David Morgan & Mike Maloney Saying U.S. Mint may have to Stop Production of Silver Eagles!

David Morgan of Silver-Investor and Mike Maloney of Wealth Cycles, discuss the Metals market. They say the U.S. Mint may have to stop production of the Silver Eagles, due to the Congressional law all the silver has to have been mined in the U.S., for the Eagles. That has been fine in production previously, but now that the Eagles are selling record amounts, over 4 million ounces sold this month (Jan. 2011) alone. They believe the Eagles will not be able to be produced at some point this year.



An extra tid bit, Harvey Organ yesterday had this information in his daily update of the Comex numbers. If this is correct, well it is about time. There has been talk after talk about a Comex default, but it has never happened.

From Harveys update:

There have been rumours that certain hedge funds and sovereign wealth funds are willing to take possession of all gold and silver. In gold it is the February month and in silver it is March. If this is true, the game is over as there will be a default at the comex

which will bring on defaults at the SLV and GLD, and then a default at the Bank of England, and then all the banking system in the USA. I will be watching this closely.