I am certain that 99% of our website viewers are not aware that if you raise the home page, there are three columns which everyone should read. The reason I know that most don’t even know they’re there, we because I get one question continually, and that is: “Suppose they confiscate my gold like they did before?” That is the favorite line of the numismatic salesmen. (Read the column on rare coins while you’re down there). Everyone has a sales pitch, no matter what they’re trying to sell, and the old ’confiscation’ line is their favorite, even though it is a lie.
Did FDR order everyone to turn in their gold, under an executive order, in 1933? Yes. Was it ever enforced? No. Did everyone turn in their gold? No. Some did, but if everyone did, how come they still have it to sell in the coin shops or through the numismatic hawkers? No one ever was fined, or had their gold seized. We don’t have a sales pitch, and we never call anyone. I work at my home in Colorado, Melissa my daughter, works at her home in upstate New York, and my son David, works at his home in Wisconsin. We have no employees, pay no rent for a store, and do absolutely no advertising. If there were a ’sales pitch’ for Colorado Gold, it is simply for you to, “Get out of dollars, and into something tangible, to protect yourself.”
Is there a shortage of silver and gold?
No, there is a shortage of manufacturing capability. When Obama and his gang got elected, the rush for metals was huge. So huge, that there was a shortage of manufacturing capability. The manufacturers bought new equipment, and doubled their output. We caught up for many months, but now, it isn’t the election that has caused more to want metals. It’s the world economic situation, plus the idiotic Fed wanting to print $600 billion and place it in circulation, which will cause far more inflation and prices to go up. Naturally, government will lie about that too. Once again, there is a huge demand, and the manufacturers will simply have to buy more equipment! As of yet, there is no shortage of silver or gold. If there were, prices would shoot up rapidly, and as it is, we are having a lovely correction. Prices shoot up and people take profits, causing prices to go down and people buy on the corrections. It’s merely the market at work. Do not be alarmed. Corrections won’t last long.
The entire world is standing on economic stilts. Ireland, Britain, Greece, Spain, Portugal, Japan, and The United States, have all been over-spending for decades, and now it has all caught up with us and them. Our beloved Tea Party brought out the anger and frustration of America, and America took out lots of trash on election day. Old hat Republicans are changing their tunes now, and the change will continue, which is good news. But the debt can never be repaid other than with unbacked paper scrip with various Presidents’ faces imprimatured on the scrip. In other words, trees will continue to be harvested to print ever more worthless dollars.
More and more Americans and smart people around the world, want security from government caused inflations, and they increasingly are aware that gold and silver can be their life preserver in times such as these. Johnson-Matthey, A-Mark, and the mints of the US and Canada are working very hard to keep up with the demand. Last week, Johnson-Matthey raised their price of hundred ounce silver bars from 40 cents over spot to 75 cents over spot, which makes the ten ounce silver bar the best silver buy now, at 70 cents over spot. That’s good, because they are simply beautiful and individually wrapped in clear plastic to keep them from tarnishing. The hundred ounce bars are ’cast,’ and the ten ounce bars are ’extruded,’ which means they are very shiny and beautiful.
To be brief, we still have the Fourth Amendment, so there will be no confiscation, and the consumption is growing every day. If we lock in the price and give you a trade number, you will get the stuff…as fast as it can be manufactured. Will there ever be a shortage of silver and gold? Yes, because while trees can be grown, gold and silver cannot, and as more and more want it, the supply will diminish, causing prices to escalate. Markets work, and this means, to me anyway, that while everything will go up in dollar prices, silver and gold will probably go up further as years pass, due to their diminished supply. The IMF sells a million ounces every month, which isn’t enough to satisfy demand. When they run out, there will be a million ounces less every month, and the U.S. has none to sell.
P.S. David and Melissa are visiting us Thursday and Friday, so it will be up to me by myself. Expect busy signals. I have to see my kids every once in a while, you know!