OH MY the Sales Director for the Royal Canadian Mint has come out and told King World News, they are having problems getting silver! They are working with their suppliers of silver but can not source all that is needed.
Gosh darn, someone needs to call them up and let them know JP Morgan has 300 million + in ounces they are trying to sell. Because that is somewhere around the number of their shorts on the Comex and that means they are proclaiming they have that many ounces of silver for who ever would like to buy it. :)
Portion from interview:
Our advantage is that we have had long-term relationships with our suppliers and that has helped us in this situation. We have been able to leverage off of those relationships to get supply, but it still remains a big challenge sourcing material. We’re looking at ways of mitigating our risk regarding supply of silver.
So the truth is coming out from Mints directly, they are not able to get the silver they need to mint their coins. He even says they believe this is the new "norm" in the interview.
Portion:
“I think you are going to see the premiums go up in order to secure silver. At some point some players will be priced out of the market. I don’t think this is a short-term situation, I think there are a lot of issues going forward and this may be the new norm.”
I hope people listen to the Royal Canadian Mint to understand the silver market is ready to bust loose and truth come out about the amount of silver actually available.
One question:
Got Silver?
When you look at this chart and you see what is at the top of the commodities of increase and then you see what starts the negative of loss........
The chart does not read very well here - the top of the chart of commodities and increase is SILVER and the starting of the negative of the chart are U.S. t-bills.
Click on the picture to see the chart bigger. Link to chart on CME page is here.
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