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Marketwatch: Commentary Censorship

February 2, 2021

Marketwatch: Commentary Censorship

Yesterday (February 1, 2021), MarketWatch published an article on why the short squeeze on silver being discussed by some on WallStreetBets/Reddit would be short-lived. Having read a number of articles on the issue it was not difficult to identify some misleading/faulty statements in the article. I sent a comment through to point out these inconsistencies in the article only to receive a message back that my comment “has been rejected as it contains content that is in breach of our community guidelines.”

Here is the comment:

__________________

Some misleading and missing ‘facts’ in this story.

First, the gold-to-silver price ratio is not ‘historically’ 60-1. That is only a relatively recent ratio. Historically, the ratio is about 15:1. (https://www.mining.com/web/alert-gold-silver-ratio-spikes-highest-level-27-years/)

Second, the argument that the WallStreetBets/Reddit crowd is justifying its position based on the industrial use of silver in electronics/technology is only partially accurate. Several others justifications have been forwarded: the ratio of silver mined to gold mined is even lower than the price ratio, about 8 ounces of silver to every 1 ounce of gold (https://www.jmbullion.com/investing-guide/james/silver-supply/); and, most importantly, there are 100s of paper ounces of silver to every actual physical ounce in existence, so taking physical deliver, as many are suggesting, will expose the fraud that is the precious metals market (https://www.goldbroker.com/news/paper-silver-market-250-times-size-physical-silver-market-526#:~:text=This%20would%20mean%20that%2C%20for,circulating%20in%20several%20financial%20products.)

And finally, many simply want to expose the fraud and manipulation by the Big Banks that has been going on for ages. (https://www.reuters.com/article/jp-morgan-spoofing-penalty/jpmorgan-to-pay-920-million-for-manipulating-precious-metals-treasury-market-idINKBN26K325)

__________________

The community guidelines are fairly extensive, but I can find no where in my comment where I was in breach of them, except maybe “excessive links to external websites”; but is 4 excessive?

Blatant censorship? It seems so to me.

“Everyone Is Afraid Ahead Of The Open” – Reddit-Raiders Spark Nationwide Physical Silver Shortage

January 31, 2021

“Everyone Is Afraid Ahead Of The Open” – Reddit-Raiders Spark Nationwide Physical Silver Shortage

Update (1100ET): For some background on just how unprecedented this weekend’s action in silver markets is, Tyler Wall, the CEO of SD Bullion writes the following (emphasis ours):

In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.

In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).

However, everyone we talk to is afraid of a gap up at Sunday night market open.

This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.

Our direct AP supplier informed us after close on Friday that the “US Mint will be on allocation for the remainder of Type 1” (Current Silver Eagle Design).

Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history.

And, perhaps most importantly, as QTR tweets so succinctly, “this is a red pill moment for many, and it’s beautiful.”

* * *

Update (1030ET): It would appear the run on silver has begun. With the market closed, traders have rushed to secure some exposure to silver ahead of what WSB suggests could be “the world’s biggest short squeeze” and that has left bullion dealers

As we noted below, the premium for physical silver had soared late Friday and into Saturday (after the massive flows into SLV), but as Sunday rolled around, bullion dealers are now facing massive shortages of physical coins.

…click on the above link to read the rest of the article…

Silver Eagle Sales Explode During First Two Weeks In January

January 14, 2021

Silver Eagle Sales Explode During First Two Weeks In January

With the continued disintegration of the economic and financial system in 2021, investment demand for physical precious metals continues to be strong. After the U.S. Mint posted a stunning 2.7 million Silver Eagles sold during the first week in January, they just posted another update, which already blew past last year’s figure by a wide margin.

Remarkably, just the U.S. Mint Silver Eagle sales for the first two weeks in January accounts for 7% of the average monthly global silver mine supply. That’s a lot of silver demand, considering the U.S. Silver Eagle sales are only a small segment of the total global silver market. As I have mentioned in several articles, if we see another record year of physical and ETF silver demand this year like we had last year, the silver price will likely surpass the $35 level.

Now, according to the U.S. Mint’s most recent update, they sold almost 2 million more Silver Eagles this week to the Authorized Dealers. Total Silver Eagle sales as of Jan 12th, are 4,646,000. Already, for the first half of the month, the U.S. Mint sold 800,000 more Silver Eagles than during the entire month last year.

What’s interesting about Silver Eagles, even though the quality of .999 silver is less than its closest competitor, the Canadian Silver Maple coin at .9999 silver, the premium is higher. Silver Eagle premiums can run $1+ more than a Canadian Silver Maple. But, for whatever reason, Americans continue to buy a lot more Silver Eagles than Silver Maples.

With demand for silver investment reaching a record last year, Silver Eagle sales surpassed 30 million in 2020.

…click on the above link to read the rest of the article…

srsrocco report, us silver eagles, silver, silver coins, precious metals,

Bloomberg Analysts: “Gold the Asset to Beat in 2021”

January 12, 2021

Bloomberg Analysts: “Gold the Asset to Beat in 2021”

Bloomberg: Gold to outperform S&P 500 & Bonds in 2021

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold to spearhead precious metals’ outperformance in 2021, why 2020 was a very good year for national mints, and birdwatcher unearths biggest-ever hoard of Celtic gold in Britain.

Bloomberg analysts: A $2,000 price tag will make gold the asset to beat in 2021

Among traditional assets, it would be difficult to beat gold for the title of top performer in 2020. Having hit a new all-time high of $2,070 in August, the metal has traded around its previous all-time high of $1,911 ever since. And though gold has appeared somewhat rangebound over the previous months, Bloomberg Intelligence senior commodity strategist Mike McGlone sees this as a stepping stone on the way towards an even better year.

According to McGlone, the $2,000 level that gold appears to have had difficulty recapturing is poised to become the metal’s next support, making it the asset to beat once again. “In an investment landscape increasingly dominated by how low — or negative — central banks will set base rates, along with rising debt-to-GDP and QE, we see the foundation solidifying under the price of gold. Resistance at about $2,000 an ounce in 2020 is set to transition to support in 2021,” he explained.

McGlone added rising volatility to the list of reasons why he can’t imagine gold’s price rise stopping, especially as the metal has held steadfast to its upwards-pointing 12-month moving average. In what has by now become a common scenario, McGlone expects gold to continue outperforming the record-setting S&P 500 along with sovereign bonds.

…click on the above link to read the rest of the article…

U.S. Mint Sells 2.7 Million Silver Eagles First Week Of 2021

January 9, 2021

U.S. Mint Sells 2.7 Million Silver Eagles First Week Of 2021

With the Fed and central banks pumping up the markets with a record amount of money printing, liquidity, and stimulus, investor demand for precious metals continues to be very strong. In the first week of 2021, the U.S. Mint sold 2.7 million Silver Eagles. The Mint also sold 45,000 oz of Gold Eagles.

While Silver Eagle sales are elevated in the first month of every year as the Authorized Purchases are stockpiling the new dated official coin, 2.7 million in the first week is a solid start. With three more weeks in the month, sales of Silver Eagles may reach 4-5 million. According to the U.S. Mint website, here is the breakdown in Silver and Gold Eagle Sales.

Unfortunately, the U.S. Mint didn’t show any Platinum or Palladium Eagle sales so far in January. The U.S Mint didn’t sell any Palladium Eagles in 2020 and stopped producing Platinum Eagles in May. With a tightness in the Palladium market, it’s no wonder the U.S. Mint hasn’t sold any of these coins for quite a while.

Demand for precious metals continues to be strong even though we see NOISE BLEED price levels for Bitcoin. Bitcoin surpassed $40,000 today. Both Tesla and Bitcoin are perfect examples of TULIP BUBBLES ON STEROIDS. If investors want to know Tesla’s REAL FAIR VALUE, you need to check out the Silver Member post below.

Regardless, Silver Eagle sales in 2020 surpassed 30 million while Gold Eagles totaled 844,000 oz. Amazingly, the U.S. Mint has sold over a half-billion Silver Eagles and 24 million Gold Eagles, which turns out to be a 23/1 Silver to Gold Eagle ratio over the 1986-2020 period. However, the ratio last year was 36/1. Thus, the U.S. Mint sold 36 times more Silver Eagles than Gold Eagles in 2020.

…click on the above link to read the rest of the article…

Poll Data: Silver Stackers and Solar Panels to Push Silver Higher

January 5, 2021

Poll Data: Silver Stackers and Solar Panels to Push Silver Higher

Stackers, Solar to Push Silver Higher in 2021

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Silver to emerge as top commodity in 2021, gold and oil to create a boom in raw materials, and 5 reasons why gold is an essential part of any portfolio.

Silver will be the best performer in a bullish precious metals market

Much has been said about silver’s outperformance last year, and indeed, what should be an even better year ahead. After climbing to a seven-year high, forecasters have repeatedly stated that there’s plenty of room for silver to shoot up to $50 this year.

Kitco’s 2021 Outlook survey, which polled 1,015 investors, came back with sentiment that was very much in line with previous forecasts. Main Street investors and analysts are bullish on all precious metals, and expect silver to outperform its peers due to a combination of demand from the manufacturing sector as well as investor demand.

The rise in inflation expectations pushed gold to a new all-time high of $2,070 in August, and many participants see plenty of similar action for the yellow metal this year. However, a 56% majority of respondents listed silver as their top choice due to a push for green energy. Today’s solar panels each require 1/3 oz. of silver each, on average, so when interest in renewable energy booms, silver prices tend to follow suit. In fact, some studies suggest that silver supplies might constrain large-scale conversion to solar power, and when supplies tighten, prices rise.

…click on the above link to read the rest of the article…

Saxo Bank: Overwhelming Demand for Silver Will Push 2021 Prices to $50

December 29, 2020

Saxo Bank: Overwhelming Demand for Silver Will Push 2021 Prices to $50

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Industrial demand to push silver prices to $50 in 2021, what Swiss gold data tells us about global gold demand, and why space mining will most likely remain confined to science fiction.

Saxo Bank: Overwhelming demand for silver will push prices to $50 next year

For the global markets, the tale of the tape this year has been one of uncertainty. One of the few things traders and investors have had no trouble betting on, however, is higher inflation and currency debasement. With trillions of dollars pumped into the economy and trillions more on the way, the question of fiat debasement has become one of when, rather than if.

Loose monetary policy is just one part of President-elect Joe Biden’s agenda, with a push towards green energy being another prominent point on his administration’s bottom line. The worldwide bid for green energy has already helped elevate silver in recent years, but now, Saxo Bank’s analysts believe the metal could shoot up to as high as $50 next year as the manufacturing sector recovers.

In their annual Outrageous Prediction report, the bank’s head of commodity strategy Ole Hansen made silver one of the top talking points. As Hansen explained, the bank is highly bullish on silver as demand from manufacturers is set to collide with investor interest. Having already doubled from its March lows of around $12 and outperformed gold in doing so, Hansen sees $50 silver in 2021 as a very realistic target.

…click on the above link to read the rest of the article…

The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up

December 21, 2020

The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up

U.S. demand for silver continued to remain strong as imports surged higher in September after a decline in August. However, the opposite was true for India as silver imports during the same month collapsed to an all-time low. What a difference in just a few years as India imported nearly 500 metric tons on average a month last year.

According to the data from GoldChartsRUs.com, India’s silver imports in September fell to only 11 metric tons (mt) compared to 169 mt during the same month last year. That’s a 93% decline year-over-year. Interestingly, during July last year, India imported an average of 33 mt of silver A DAY. However, in September this year, it was a total of only 11 mt. Gosh, that’s a tad bit more than 350,000 oz. What’s going on? Of course, the pandemic likely was part of the reason for the decline in silver imports, but the silver price rise to an average of $27-$28 during September likely curtailed buying by savvy Indian investors.

While India’s silver imports nearly dried up in September, it was a totally different story for the United States. Total silver imports jumped to 745 mt in September, up from 524 mt in August. When be put India and U.S. silver imports side-by-side, we can see a huge difference.

The United States imported 66 times more silver than India in September. In just the past three months (JUL-SEP), U.S. silver imports totaled 2,309 mt, or 74 million oz. As we can see, the U.S. has imported roughly 2.5 times more silver than India during the first three-quarters of the year. The majority of U.S. silver imports were in bullion form.

The next chart shows just the U.S. silver bullion imports for Jan-Sep.

…click on the above link to read the rest of the article…

Silver Eagle Sales Surge To Highest Level In Nine Months & SRSrocco Report Interview With Palisades Radio

December 2, 2020

Silver Eagle Sales Surge To Highest Level In Nine Months & SRSrocco Report Interview With Palisades Radio

Investor demand for precious metals remains strong as the U.S. Mint Silver Eagle sales in November were the highest in nine months. Not only were Silver Eagle sales the highest since March, when the pandemic caused investors to wipe-out inventories, but Gold Eagle sales also jumped by another 25,500 troy oz this past week.

According to the U.S. Mint data, Silver Eagles sales increased from 4,081,000 on Nov. 23rd to 4,805,000 on Nov 30th. Total Silver Eagle sales for 2020 are now 29.3 million.

Silver Eagle sales in November at 4.8 million are the second highest in the year compared to the 5.5 million sold in March when the silver price fell to $12 during the stock market crash due to the pandemic lockdown. It seems likely that Silver Eagle sales will reach and surpass 30 million this year.

UPDATE DEC 1st 2:30 PM MST: It looks like the U.S. Mint sold another 276,000 Silver Eagles on the first day of December. Total Silver Eagles for 2020 are now 29.6 million. I believe we may even see 31 million sold for the year.

Furthermore, in November, Gold Eagle sales reached 88,000 oz for a total of 794,500 oz for the year versus 152,000 oz for full-year 2019.

As I have stated many times, I believe we are just beginning to see the MASSIVE SURGE of precious metals investment demand over the following years, especially in 2021. There is so much CARNAGE taking place in the U.S. economy that hasn’t been factored into the stock markets or mainstream media.

Here is my interview with Tom Bodrovics at Palisades Radio, which we recorded last week on Friday:

Americans Are Leading The World By Hedging Their Bets In Silver

November 21, 2020

Americans Are Leading The World By Hedging Their Bets In Silver

When it comes to silver, Americans are leading the world in hedging their bets in the shiny metal. This year, Americans have purchased one out of every three ounces of physical silver bar and coin compared to the rest of the world. And, that’s not all. If we also consider total Silver ETF demand, the U.S. based SLV ETF has seen its inventories increase by over 200 million oz in 2020.

Thus, Americans have purchased nearly half of all the global physical and ETF silver investment this year. According to the Metals Focus Silver Interim Report for the Silver Institute, the U.S. is projected to see a 62% increase in physical silver bar and coin demand this year over 2019. Based on the 2020 World Silver Survey data, total U.S. physical silver demand was 48.2 million oz (Moz) last year. Simple math puts the total estimate for U.S. silver bar and coin demand at 78 Moz in 2020. With global physical silver investment to be 237 Moz this year, the U.S. accounts for one-third of the total.

Furthermore, the U.S. based iShares SLV ETF, saw its inventories increase more than 200 Moz this year, accounting for two-thirds of the total 300 Moz growth in global silver ETFs.

Now, I don’t know if all that silver is located in the SLV ETF vaults, but it is still an excellent indicator revealing the increasing need for Americans to place more of their wealth into silver. I believe this is only the beginning of a rising trend that will continue over the following years.

…click on the above link to read the rest of the article…

The monetary logic for gold and silver

November 14, 2020

The monetary logic for gold and silver

A considered reflection of current events leads to only one conclusion, and that is accelerating inflation of the dollar’s money supply is firmly on the path to destroying the dollar’s purchasing power — completely.

This article looks at the theoretical and empirical evidence from previous fiat money collapses in order to impart the knowledge necessary for individuals to seek early protection from an annihilation of fiat currencies. It assesses the likely speed of the collapse of fiat money and debates the future of money in a post-fiat world, in which the likely successors are metallic money — gold and silver— and some would say cryptocurrencies.

Early action to lessen the impact of a failure of the fiat regime requires an understanding of the role of money in order to decide what will be the future money when fiat dies. Will we be pricing goods and services in gold or a cryptocurrency? Will gold be priced in bitcoin or bitcoin priced in gold? And if bitcoin is priced in gold, will its function of a store of value still exist?

Introduction

This week saw the news that a vaccine had been found to combat the coronavirus. At least it offers the prospect of humanity ridding itself of the virus in due course, but it will not be enough to rescue the global economy from its deeper problems. Monetary inflation is therefore far from running its course.

The reaction in financial markets to the vaccine news was contradictory: equity markets rallied strongly ignoring rapidly deteriorating fundamentals, and gold slumped on a minor recovery in the dollar’s trade weighted index. Rather than blindly accepting the reasons for outcomes put forward by the financial press we must accept that during these inflationary times that markets are not functioning efficiently.

…click on the above link to read the rest of the article…

Australia’s Perth Mint Silver Bullion Sales Surge In 2020

October 30, 2020

Australia’s Perth Mint Silver Bullion Sales Surge In 2020

With the newest update just released, Perth Mint silver bullion sales surged in the first three quarters of 2020. And, for the first time in many years, the Perth Mint sold more than two million oz of silver bullion in a single month this year. The official silver coins produced by the Perth Mint are the Silver Kangaroo, Koala, and Kookaburras.

Not only are the Perth Mint’s silver bullion sales up significantly this year, but gold bullion sales are also up a stunning 160% higher than the same period last year (info from CoinNews.net). The Perth Mint sold 579,644 oz of gold bullion Jan-Sep this year versus 223,821 oz in 2019.

According to the data published on CoinNews.net, Perth Mint silver bullion sales for Jan-Sep increased to 13.1 million oz compared to 7.8 million oz during the same period last year. That’s a 68% increase year-over-year.

Furthermore, U.S. Mint Silver Eagle sales of 24.5 million oz are up 66% compared to the 14.8 million sold for Full-Year 2019. So, with two more months remaining in the year, there is a good chance that Silver Eagle sales will reach 28-29 million, nearly double what they were in 2019.

I will update the Royal Canadian Mint’s Silver Maple and billion sales in an upcoming article.

With demand for physical silver bullion up significantly this year, along with the global Silver ETFs, if we see another year like this in 2021, watch out for much higher prices.

Gold and Crypto: Is This How Charts Look Before A Monetary Collapse?

October 24, 2020

Gold and Crypto: Is This How Charts Look Before A Monetary Collapse?

It is the the massive debt. It cannot be serviced. It will collapse the whole system.

The gold, silver and cryptocurrencies charts are showing signs of going parabolic. The US dollar is close to confirming a massive breakdown.

Gold, silver and cryptocurrencies all provide “crisis value” by simply being an acceptable debt-based fiat alternative. It is only later in this crisis that we will see a divergence between cryptocurrency and precious metals.

For now, they are likely to move higher together.

Gold has recently made new all-time highs, and seems ready to go higher after a decent consolidation. The importance of the 2011 all-time high can be seen on these charts:

I have marked two fractals (ABC). Both fractals start from the Dow/Gold ratio peaks (1966 and 1999). For these to continue the similarity, the level ($1920) at A and C needs to be surpassed on the current fractal.

We’ve already seen the breakout, now price has just been consolidating around that level. It is very close to blasting higher.

From a cycle analysis point of view, we are right at a point where a sustained multi-year gold rally is possible:

The top chart is gold from about 1997 to 2020 (current fractal), and the bottom chart is gold from about 1965 to 1980 (70s fractals). If the current fractal continues to follow the 70s fractal, then we could see gold continue to multiples of its current all-time high.

Currently, we are just after, or close to, a major Dow peak in the economic cycle. Again, you can see that the 2011 peak is an important indicator to confirm these fractals as relevant. It could also be considered a marker after which the chart is likely to go parabolic.

…click on the above link to read the rest of the article…

U.S. MINT SEPTEMBER SALES: 134 Times More Silver Eagles Sold Than Gold Eagles

October 7, 2020

U.S. MINT SEPTEMBER SALES: 134 Times More Silver Eagles Sold Than Gold Eagles

With the enormous investor demand for Silver Eagles, the U.S. Mint sold nearly three million official coins in September. While this wasn’t the highest monthly amount this year, it was a record when we compare the Silver Eagle sales to Gold Eagles. And, it seems that U.S. citizens are purchasing the majority of the Silver Eagles as Americans prefer silver bullion coins (and rounds) over bars.

For those who might be new to the precious metals market, the official coins such as Silver Eagles, Maples, Philharmonics, Krugerrands, Kangaroos, Britannias, Pandas, and Libertads are known as “COINS.” In contrast, private rounds such as Buffalos, Walking Liberty, etc are labeled as “ROUNDS.”

While some investors prefer the Silver Maples because they have a better fineness (99.99% silver) versus the Silver Eagles (99.9% silver), there has been one heck of a lot more Silver Eagles sold and held in the market than Maples. I don’t have a total Silver Maple Leaf coin figure because the Royal Canadian Mint stopped providing updates since 2015 on the amount of Gold & Silver Maples sold.

Regardless, here is an updated chart of the total Silver Eagles sold to date since 1986.

A total of 556 million Silver Eagles and 23.8 million Gold Eagles were sold from 1986 to September 2020. That’s a half-billion oz of Silver Eagles sold since the U.S. Mint began producing them in 1986. The ratio of total Silver Eagles to Gold Eagles over the 35 years was 23/1. However, if we look at the ratio for September this year, it’s considerably higher.

The U.S. Mint sold 2,958,500 Silver Eagles and 22,000 oz of Gold Eagles during September. Thus, the ratio was 134 times more Silver Eagles than Gold Eagles. The average ratio over the 2016-2019 period was 64/1.

…click on the above link to read the rest of the article…

THE FORMER INDUSTRIAL METAL: The Silver Price Surges As Copper & Oil Get Crushed

October 2, 2020

THE FORMER INDUSTRIAL METAL: The Silver Price Surges As Copper & Oil Get Crushed

The notion that silver is just an “Industrial Metal” was utterly destroyed today as both the copper and oil prices were crushed as silver surged higher. This is precisely what I was looking for as a positive sign showing that silver is now disconnecting itself from the INDUSTRIAL METAL BALL & CHAIN.

While analysts will continue to regurgitate that the future silver price depends on industrial demand, we can now take this analysis and throw it into the dustbin. The world is heading into a new paradigm of “Building Wealth to Protecting Wealth.” And let me tell you, you cannot protect wealth in most STOCKS, BONDS, or REAL ESTATE. Those days are over for good.

Unfortunately, 99% of investors still haven’t figured that one out yet… but they will.

Today, it was quite an impressive day for silver (and gold) as the metals surged higher while copper, the king industrial metal, got destroyed. Here is a chart of the copper price versus silver.

As we can see, copper is down 5% while silver is up 2%. Thus, the leading indicator of the global economy, COPPER, just put out a very BAD SIGNAL, indeed. Now, if silver was just a mere industrial commodity, why didn’t it’s price follow along with copper???

And, if that isn’t bad enough, take a look at the WTI Oil price. The West Texas Intermediate oil price was down 5% as well.

With the U.S. oil price falling $2 in one day, that just wiped out $21 million in oil revenues to the oil companies. This is also terrible news for the U.S. Shale Oil Industry is being held together by DUCT TAPE, BAILING WIRE, and ELMERS GLUE.

Today, I also posted the broad selloff in oil on my SRSrocco Report Twitter feed:

…click on the above link to read the rest of the article…

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