Loading ...HISTORIC GLOBAL COMMODITY, CURRENCY CRASH INTENSIFIES – UPCOMING GOLD AND SILVER SHORTAGE A DISASTER IN THE MAKING
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Which brings me to the last – and for Miles Franklin Blog readers, most important – topic du jour. Which is, the upcoming Precious Metal shortage that with each passing day, draws nearer; particularly in the far tighter silver market, so much so that I felt compelled to publish a special “silver supplement” last week, titled – in the words of Miles Franklin’s President, Andy Schectman – “supply is at a 1.5 or 2.0 out of ten” – and one of the potentially last great silver opportunities.”
Well, since published, demand has tightened further – starting with the U.S. Mint itself, which not only sold nearly a million silver Eagles yesterday alone, but is on a pace for August to be its best August ever; following its best July ever; and, assuming supply doesn’t run out, what will clearly be its best year ever. In fact, regarding said “last great silver opportunity,” I personally purchased one of the last lots of available Great Horned Owls from the Royal Canadian Mint’s last “Birds of Prey” series – at which point, I was informed that shortly, nearly all distributors will be forced to suspend silver Maples sales indefinitely, due to soaring demand. This is exactly what I suggested was coming in the aforementioned article. Not to mention, what I have screamed all along about “junk silver” – i.e., the “ultimate fear asset” – which fellow bullion dealer Steve Quayle loudly validated this morning.
No matter where one looks, Precious Metal demand is exploding; inventories are vanishing; and the production outlook is historically horrible. And nowhere more so than silver, given that roughly half of all global production is the byproduct of copper, zinc, and lead mines; which, given the historic base metal price collapse that is only just starting, may well cause the conclusion of last year’s “Miles Franklin Silver All-Star Webinar Panel” – i.e, that silver production could fall up to 50% in the coming years – to approach reality.