Another day, another dollar. Unless, of course, you live in the United States. If that’s where you’re at, you are now living in a country that’s run out of money. Why? Because we’ve officially run out of silver.
The US Mint has just announced that they will not be striking Morgan or Peace Silver dollars in 2022. The stated reason for this is due to a lack of silver banks (known as planchet). It seems that Americans are taking a look at the world around them and trying to do what they can to dodge what they perceive to be the incoming haymaker.
“But we’ve faced similar shortages in the past! This isn’t anything new!” you say.
Yes, we’ve faced silver shortages in the past.
This isn’t an entirely novel problem within the United States. Every few years, we do seem to face a serious silver shortage.
The late 70s and early 80s were known for the Hunt brothers amassing two-thirds of the globe’s privately-owned silver supplies. It created a couple of headlines.
Fast forward a few decades, and you’ll see that we saw discussions of silver shortages in the US in 2015.
Then, 2020 slapped everyone in the face. The economy was reduced into shambles, the wallstreetbets subreddit pushed the nation to buy up all the silver they could, and we faced a serious silver shortage throughout that year. The US Mint actually saw a 258% increase in gold coin sales throughout this year and a 28% increase in silver coin sales.
The very next year was no different, with the US Mint once more stating that there was a silver blank shortage in the United States due to the “global silver shortage.”
The minting of new silver coins was suspended as a result, and the US Mint actually sold out of gold and silver coins by February 2021.
And now, we’re seeing this once again.
According to the Deputy Director of the US Mint, Ventris C. Gibson (nominated for her position in December 2021 by Biden), this current silver supply problem is due to a shortage of silver blanks within the US.
She said, “We’ll be required to make business decisions like this until the supply chain for silver blanks recovers from the disruptions caused by COVID.”
Let’s analyze this.
If it’s just a shortage of blanks, why can’t we just melt down some more silver bars, chains, ingots, and other forms of bullion to make more blanks? The reason? Because we don’t have any of that silver to do so. We are out of silver. Of course, that doesn’t sound anywhere near as innocent as a shortage of silver blanks caused by COVID disruptions, right?
And what are the ultimate reasons why there are “supply chain disruptions” in the silver supply? Because everybody has been buying it up. Why has everybody been buying silver up? Because 2020 caused people to realize that society is fragile, and the US dollar, a fiat currency, is as well.
Here’s a pretty good video that will show you that the American dollar very well may be at the end of its lifespan.
Gibson went on to add, “I want to be ensure [sic] that our customers know that the modern renditions of the historic Morgan and Peace Silver Dollars will continue next year.”
But can we really believe that?
After all, we’ve been facing a serious silver shortage for the third year in a row. Why should we expect things to be any different next year? Because of a promise?
As we’ve discussed before here at The Organic Prepper, 80% of the US dollar supply was printed within the span of two years. Naturally, the price of everything has skyrocketed as a result. Food has gone up, gas has gone up, physical goods – everything.The dollar is worth less, and it results in more dollars being necessary to purchase the same number of goods.
People then see this and attempt to protect their finances by putting their money into what they believe to be as “safe” investments. Land, vehicles, precious metals. If you see the price of any of these three items skyrocket in a nation, you have a fairly good indicator that something strange is going on. It’s evidence that people are trying to protect their money. The people clearly believe that there is an incoming threat, and are doing what they can to fortify themselves against it.
And this is exactly what you see right now in the United States.
The price of land is astronomical right now. Used car lots are having a difficult time even finding product. Nobody wants to sell. And even our Mint has suspended minting more silver coins due to their not being enough silver to do so.
Americans currently see a problem and are responding.
It appears that the US dollar is in for some very serious trouble in the near future. The petro-yuan will replace the petro-dollar (something this guy predicted in 2017). Debt accompanies war, and it looks as if we are gearing up for one on a global scale. And now we’re having a heck of a time getting precious metals out there.
What comes next?
Are precious metals part of your prepping strategy? Is this a sign of worse economic things to come? Let us know your thoughts and comments below.
*None of this is financial or investment advice. If you are seeking financial or investment advice, find somebody else.*
About Jeff
Jeff Thompson is an avid fisherman who likes to spend time sailing on his boat and reading while at sea.
Elections have consequences…stolen elections have really, really bad consequences. The Globalists/Marxists have managed to orchestrate a coup in America, a Color Revolution, and it will lead to war, financial destruction, martial law and genocide. The Central Bankers are at the end of their game and they only have one play left…war. Get your food, water, guns and gold because all the old conspiracy clichés that the Leftards have been laughing at us about are going to materialize. This is the Fourth Turning and apparently the End of an Age…buckle up and get right with Jesus.
Well said Resolute William.
COULD NOT HAVE SAID IT ANY BETTER WILLIAM… History does repeat itself. making sure one has a sufficient amount of food will NOT be easy. Simply b/c they will eventually just run out, of food and water, then what? Also when they take away our $$$$$ then what happens to it.????? Many people put it away under the mattress (old saying), others have it in a vault or a bank safety deposit box, others perhaps in a lock box buried under a big potted plant, but you get the point.
What happens to all of those dollars? Will people lose it all and just dump it in the garbage can as trash, haul it to the dumpsters to be burned, take it over to the local landfill? Well, tell me…YES, I agree, gather what you can, get the food, water, guns, ammo and gold (to trade/barter), but it seems as for food the larger geographic area you live in the worse it shall be. Are you close to lots of people? Can you garden where you live.?????What about tomato plants, corn, cucumbers, lettuce etc.????? Can you plant any of it in a city????? Maybe with a balcony or some space but usually the ones in the cities are basically stuck without a pot to pee in, or a window to throw it out of…RURAL will certainly be better will it not????? Open space to live, to grow and to function will be far better it seems than living otherwise…There is LOTS of country out there. Wide open spaces, and sooner rather than later folks will wish they had gotten OUT OF DODGE (aka CITIES), and by time they realize it all, it unfortunately will just be to late!!! Agree, disagree, what are your thoughts????? I mean if you can tell me how the average family plans to survive I would love to read that. Knowledge is POWER, and Strength is supposed to be in numbers, but NOT necessarily. That depends on if those individuals are as “like minded” as you happen to be. Surround yourself with people that think the way you do…Be careful, and prove what you can. Their ACTIONS are always LOUDER than their WORDS !!! Are they serious????? Have them SHOW you and not just TELL you!!! Remember: THINGS ARE NOT ALWAYS AS THEY SEEM! Deceit is rampant and there are fakes on every corner!!! Be wise as serpents and harmless as doves.
We bought our PM’s years ago. Now we are “investing” in things which may be needed in the future by others, like cases of canning jars, motor oil, new t-shirts and socks, cheap bottles of brandy/wine and lastly packs of seeds. Doubled the size of our compost too and will add 3 more raised beds this fall.
We believe a smart prepper will use his money before it has lost buying power/value
GOSH, very smart, very wise, and yes very OUT OF THE BOX thinking. I can’t agree more. WHAT good is their $$$ in the bank drawing a little interest, with inflation as high as it is????? The gas, food and everything else is astronomical at this point in time. Do it ALL now and spend some NOW (not all of it) but a portion of it, and stock up on whatever you can stock up on while you can still do it. Tomorrow, next week and next month you WILL no doubt be paying MORE, and more and more for ALL of it…I advise the readers here to be SMART, WISE AND TO THINK OUTSIDE THE BOX !!! and my dog approves of this message hahaha…SHE wants a supply of doggie food, bones and some chewies too !!! If anybody in the family requires prescription medication, NOW is the time to buy as much as you can from you own funds, yes b/c your insurance may only pay for 3 months at a time maximum, and of course you, he, she will need MORE. SO get it before they stop delivering to your pharmacy…YOU will be sooooo glad you did that. And infant supplies, formula, diapers, wipes, etc and anything else for any elderly/older members of the family…Just SMART thinking…The wise and prudent carry on, the others will fall by the wayside…
If you need reading glasses get extras and then a few more. They are also excellent barter items.
Excellent point Seminole Wind……items like you describe will have more value than fiat paper if things continue on their present trajectory.
It goes a lot deeper than that. For years the gold and silver market prices have been depressed by paper gold and silver contracts.
Recently people have started wanting to redeem the paper( contracts) for the physical product.
With the Ukraine conflict and Russian sanctions, people around the world are buying up precious metals and redeeming contracts for those metals. So this is not just a national problem, but an international one.
This has caused the price of Silver and Gold to rise.
Part of the US Mint’s problem is the cost of metals is outstripping the value of the coins they are making. The metal content is worth more than the face value of the coin. the Penney costs 2.1 cents to make and the Nickel about 8.52 cents.
The silver market so volatile, they can’t afford to buy silver at high prices and have the price drop by the time the coins are completed. Causing them to sell the coins at a loss.
So they are not really out of Silver, but out of the cheap Silver blanks and do not want to buy it at it’s new high prices, fearing the price might drop in the future. Most probably they know that the market price of Silver will attempted be manipulated downward again, real soon.
So this is a world wide problem with the high prices of metals and in making coinage, not just a US problem.
I looked at the price of silver online just now. It began at $25.00, went up to $25.80, then back down to around $25.65 at close. It’s been hovering around 23, 24, 25 for a good while now. I’ve not noticed the BIG jump in price. Just saying.
There’s a lot of silver in them thar’ hills yet; 30 miles as the crow flies but 2 hours by roads from me is a large silver and gold mining operation. As with oil, gas, other shortages in our country silver shortages have been intentionally created to inflict very real disastrous consequences. Inflation is artificially created by printing fiat currency, weakening the Dollar and inducing supply chain disruption. I’ve been having great difficulty with “Hate the sin, not the sinner.”
I know what you mean, but PLEASE realize that GOD does love justice. He is LOVE, FAIR, HONEST and JUST. HE still has GRACE, MERCY and COMPASSION. His being “just” will be sure that what went around will come around on judgement day…They will ALL … the dumb and the brilliant, the rich and poor, the givers and the beggars will ALL stand before JESUS, (whom GOD the FATHER has appointed to JUDGE the whole world,) and consequently they/all/we will stand before him “corrected”. We will receive our rewards for the good done in this short life span, and we will be punished eternally for the bad that was NOT repented for. We will get our due punishment as well as our due rewards at that time…GOD is LOVE, yes but as you say GOD LOVES JUSTICE and it will be handed out. Don’t worry they will reap what they have sown but the biggest to the smallest and ALL in between as well…YOU can bet on it. GOD loves a cheerful GIVER, but He HATES the greedy souls… And they will NOT go unnoticed…JESUS knows exactly the beginning from the end, the first from the last and ALL things will be made to perfection on that day!!! Man has been deceived and GOD knows it…JESUS told us that we would be deceived and to watch out for it. Things are NOT always as they seem!!!
I know what you mean, but PLEASE realize that GOD does love justice. He is LOVE, FAIR, HONEST and JUST. HE still has GRACE, MERCY and COMPASSION. His being “just” will be sure that what went around will come around on judgement day…They will ALL … the dumb and the brilliant, the rich and poor, the givers and the beggars will ALL stand before JESUS, (whom GOD the FATHER has appointed to JUDGE the whole world,) and consequently they/all/we will stand before him “corrected”. We will receive our rewards for the good done in this short life span, and we will be punished eternally for the bad that was NOT repented for. We will get our due punishment as well as our due rewards at that time…GOD is LOVE, yes but as you say GOD LOVES JUSTICE and it will be handed out. Don’t worry they will reap what they have sown but the biggest to the smallest and ALL in between as well…YOU can bet on it. GOD loves a cheerful GIVER, but He HATES the greedy souls… And they will NOT go unnoticed…JESUS knows exactly the beginning from the end, the first from the last and ALL things will be made to perfection on that day!!! Man has been deceived and GOD knows it…JESUS told us that we would be deceived and to watch out for it. This is NOT a duplicate comment…
Indeed….and look at all the food that farmers were forced to plow under during the early stages of the COVID fiasco because they were not allowed to take it to suppliers or end consumers for a variety of fabricated reasons.
“Tom Power, president, chief executive officer and owner of Sunshine Minting Inc., told Coin World that there is no shortage of silver in the market to eventually be fabricated into blanks for the U.S. Mint and other government mints. ”
“Power says supply chain issues, production capacity and shipping logistics are contributory factors affecting blanking problems.”
It ISN’T a matter of running out of silver, it is a matter of supply chain issues to get the blanks to the mint.
This article is nothing but fear porn. You should be embarrassed for writing it, and Daisy for allowing it to be published.
Just buy silver. Watch and see what happens.
Best gardener blog out there. We love david the good!
Tom, people are accumulating silver to preserve purchasing power and barter with after CBDC becomes coin of the realm. Call that “fear porn” but understand the establishment will view today’s ‘useful idiots’ as ‘useless eaters’ on the other side of their great re[S]hit.
Difficult is the way. Narrow is the gate.
Same shenanigans.
From a letter dated March, 2011:
By stopping the production of US Silver Eagle Coins you are in violation of Public Law 99-61 which requires you to produce these coins “in quantities sufficient to meet public demand . . . ”
The Laws of the United States of America are put on the books to facilitate the proper functioning of our society. It is not within the powers of the US Mint to decide which laws are obeyed and which are discarded.
The reason given for stopping production of the US Silver Eagle is the lack of availability of silver blanks….
http://www.news.silverseek.com/SilverSeek/1299088560.php
At this point, I think having good land, access to fresh water not grid dependent (well, brook/river, rain barrels etc.) small livestock, large gardens might be a better investment.
And don’t forget the OTHER precious metal……lead! ????
“lead”
the other side will have that too ….
True, but there is no perfect scenario when it comes to human beings……
What’s that old saying Ant, “I’d rather have it and not need it, than need it and not have it!”
Besides, there are more uses for it than defence – which is your implication. There’s also putting venison on the table, or turkey, or goose. And yes, the other side may well have it, but if you don’t it’s rather one-sided, isn’t it?
The Lone Canadian,
Right you are!
Two geese were in the pond this morning.
Seen ducks too.
Heard turkeys the other day.
Deer should be back in the next two weeks or so.
Out where I am the dear don’t leave. 5 of them about 100 yards off the road hen I went into town yesterday. We really only have ducks and geese twice a year – spring and fall. I’m on the flight path when they head north in the spring, and south in the fall.
“And yes, the other side may well have it, but if you don’t it’s rather one-sided, isn’t it?”
of course. didn’t say don’t have it, just reiterated what so many people fail to consider – that the shooting won’t be one way, that the other side knows economics and logistics and tactics too.
Oh, there’s a few of us old ex-military types around that know it’s a two-way street. It’s actually #1 on my “Words to Live By” list.
Rule #1: Incoming fire has the right of way
Rule#13: there is no possible victory in defence
Rule#20: An armed man will kill an unarmed man with monotonous regularity
The Lone Canadian,
Agreed. Us former military types are perfectly aware.
“Us former military types are perfectly aware”
one might think that, and if challenged they’ll repeat the shibboleth, but until challenged they often don’t speak or act as if they actually think that way – they act as if they are smart and wise and know economics and logistics and tactics and that everyone else is stupid.
GOSH AMEN ME TOO…DO YOU HAVE THE LAND YET? Most know they want it and need it but don’t yet have it, haven’t found it. Procrastinators abound… AHHHHH, Yes 110% agree, LAND, A STREAM OF WATER, FOOD AND BEING INDEPENDENT OF THE POWER GRID AND BEING SELF SUFFICIENT, is SMART thinking today and tomorrow…A stream/brook, lake, creek, river and even the rain barrels are all great investments while we still can. Even a small garden is better than no garden at all…I pray we still have time to make it happen so we can not only help ourselves but the ones that we truly LOVE in this life. GOD LOVES A CHEERFUL GIVER, they will be precious to Him…Remember we were told to LOVE our neighbor (fellow man) as ourselves…Anybody out there saying AMEN?
THIS comment starting with GOSH, AMEN ME TOO…DO YOU HAVE THE LAND YET? was in reply to 1st Marine Jarhead !!!
Wandakate,
I was tracking you! 🙂
When I returned from Afghanistan, I looked for land with certain attributes. First priority was water. And more than one source.
Then soil.
Wood lot.
Game.
Good community. That one was a bit of a hope for the best kinda thing, but we lucked out with great neighbors.
“good land, access to fresh water not grid dependent … small livestock, large gardens might be a better investment”
a community of such, yes.
The mint is required by law to produce as many AGE and SGE bullion coins as are required to meet demand. AGE’s currently sell for over $100 above spot and ASE’s carry nearly a 50% premium over spot, but demand remains extraordinary as the article explains. The commemorative Morgan dollars are grossly overpriced at 6x spot and only appeal to collectors, so the mint is stopping their production because they need that metal to meet their legal production requirement. This is not the first time it’s been in the position of having to overpay for metal. The Bland-Allison act forced the Treasury to buy silver at a 10% premium over the value of an original minted Morgan dollar before the turn of the prior century.
The photo is a picture of Galena… lead ore, not silver ore.
Same Shenanigans
moderated out?
omg
There are some great posts and articles on what’s been happening the past few years in Reddit’s WallStreetSilver community. The Due Dilligence section has everything from the history of Article 1 Section 10 definition of money in the U.S. to the coinage acts of 1792 and 1873, as well as tracking of the COMEX and other financial markets. This community was created in late January of 2021 as a result of some tensions in the WallStreetBets community when they were centered on crushing the hedge funds that shorted GME.
Silver has been shorted by JPMorgan Bank as well as Bank of America. JPMorgan had to pay a fine of over $900,000,000 in December of 2020, and Bank of America is currently short 800,000,000 ounces of silver and will have to buy virtually one years mining supply of silver to settle their accounts.
The financial S#!T storm is upon us, and as the author implies, it’s world wide.
That was the most BS statement I have ever heard. No “Blanks”. Oh really? If they cannot stamp out blanks then why not say that there is very little silver coming from mining. Speaking to truth may cause a supposed crises, but truth is better than trying to soft peddle shortages by saying you don’t have any blanks. What horse “S*&t !!!
I am sure there is a lot of horse shit out there but if you go to a PM dealer they will tell you you have to wait two months for delivery of silver. So there is some shortage out there.
I’ve been buying silver as I can afford to; a couple of hundred dollars worth here and there. Only own one Morgan; I’ve been focusing on smaller denominations such as dimes. I figure a small denomination might be easier to do business with if needs be. Also lots of quarters. I try to make a purchased every other month. I suspect that at some point, sooner rather than later, that savvy businesses will quietly let it be known that they’ll accept silver for transactions, probably through word of mouth. “Need your tooth pulled? Go see Dr Feelgood….he takes silver and gold, as well as canned hams and whiskey.” Yes, I’m also slowly building a supply of hard liquor for barter as well. All sizes and varieties. A neighbor did some carpentry for me recently; I paid him with a fifth of Jack. He beamed from ear to ear. So, yeah, liquor is also part of my plan.
And I don’t even drink.
“And I don’t even drink”
alcohol is a great long-term store of calories. beer is “liquid bread”.
I would rather have bread. It comes in cans, and you can store wheat to grind and bake. Wheat, properly stored, lasts a lifetime. Alcohol is an invitation for addicts to burgle or rob you, or just eliminate you.
Interesting….I know someone who said they have been paying for services in ammunition from time to time (this person is not me by the way).
RoadGeek,
Check out The Alaskan Bootleggers Bible to make your own.
I have make hard cider in the past. The first two batches, one was apple cider, the second, if you pounded the contents on a empty stomach, ya might get a slight buzz.
The third, was like doing shots of hard liquor.
Did a forth batch but with the intention of making vinegar. Use it as a disinfectant or cleaner. Works great on everything from bicycle chains to windows.
those saying “I’ve bought this and that” really shouldn’t be saying so on t he net.
A nickel is worth about .07 cents now. Save your nickels.
http://coinapps.com/nickel/us/calculator/
This happens when you put in an illegal and unqualified guy in the office and nobody bothers to enforce the law and remove him.
All corrupt up there and you can’t expect anything good to come out of it when it’s lawless. Can’t anybody see the LOGIC?
This contingency is well covered. ALL trading/ bartering in PMs will be a felony and will be stringently enforced. Food will be worth more than gold, as will potable water.
“enforced”
By whom?
And if your theory plays true, .. perfect! Add one more thing to the list I’m a criminal for. It’s now that much more valuable. Got to find that silver lining..????
Cocaine is illegal. Raw milk is illegal. Hell, firecrackers are illegal certain times of the year. But I can (if I desired) drive 20 miles in any direction of my farm and find any one. Hell, in July I can drive a little further and buy all three.
Your theory is flawed for this reason- deprivation will be on both sides of “the law” very soon. I know and have made friends with many of my local LEO’s they’re good folks. They’re going to have needs also in spite of their occupation.
If your worried about conducting “illegal” barter, I have to say, you have passed up a key point in preps. Networking.
“By whom?”
the new red guards.
it’s easy. they’ll bust some guy for, say, guns, and tell him, “we’ll reduce charges if you work for us, now tell us everyone who barters with you. and also we’ll set you up as a judas goat, you barter with anyone you can find, tell us who they are and you can keep everything you get from bartering.”
“it’s easy. they’ll bust some guy for, say, guns, and tell him, “we’ll reduce charges if you work for us, now tell us everyone who barters with you. and also we’ll set you up as a judas goat, you barter with anyone you can find, tell us who they are and you can keep everything you get from bartering.””
Eh.., I’ve got that avenue covered too.????
It ain’t bartering if you’re giving it away for sweat relief.
I don’t believe much of what the government says. Whether the government has blanks or not it doesn’t matter. They don’t seem to be inclined to produce Silver Eagles. By law, the US Mint has to purchase US-mined silver to make coins.
Meanwhile, just purchase silver Rounds. They are 1 oz .999 silver coins (just like Silver Eagles) issued by private mints. Plus, the markup over spot is a lot less than with Silver Eagles making them more affordable. One can argue the difference, but 1 oz .999 silver is 1 oz .999 silver. When it comes to barter, the seller and buyer will determine the price regardless of the expensive Silver Eagle or the less expensive silver Round. It’s also good to have junk silver on hand (pre-1965 US quarters and dimes). When bartering, people that are not used to bartering are more familiar with US quarters and dimes.
The point is, silver and gold ARE MONEY. They have NEVER been worth zero (like paper money) and have been used for some 3,000 years as money.
“1 oz .999 silver is 1 oz .999 silver”
sure – if that round stamped “.999” is actually .999. the issue is not silver itself, but trust. ae’s are trusted, other mints are less trusted.
I’m just really curious. WHY did the author (and Daisy, who I assume has to approve/edit everything on her site) choose to put that big photo of Deputy Director Gibson on here? Hmmm? It added nothing to the “story,” had zero relevance to anything in the story. Can someone tell me why?
I can think of a few reasons.
“why”
a picture is worth a thousand words.
Yet i know of a place close to san francisco a poor chap could mine silver for the cost of a hand chisel and hammer seen with my two eyes personally. My guess silver/gold is run the similar way of Oil and diamonds. They are so plentiful on the earth they have to control their collection and release as to keep the fantasy of high value up. It has been known for decades de beers controls the release of earth made diamonds. So if this site knows someone poor near san fransisco get in contact with me please and i will freely share location.
IMHO all you preppers need to start burying caches as to keep them from possible invading soldiers under the false UN banner. Has it ever occurred to yall you maybe stocking up for the use by an invading army? They know all your purchases.
We have not run out of silver – supplier is at capacity
https://www.coinworld.com/news/precious-metals/sunshine-mint-producing-silver-planchets-at-capacity.html?msclkid=454b2c9fabc811ec8ba70c1dcf1f28af
Do your homework folks.
The article you linked is from 2015.
Best to not hoard too much cash, because between inflation and the coming change in the reserve currency (hint: It will NOT be the US Dollar), your stash of cash may soon dwindle so much in value you may end up using it to light fires in your wood-burning stove. Convert it ASAP to useful, irreplaceable goods that will be in high demand when the SHTF, such as gardening hand tools, hats, gloves, clothes, socks, underwear, boots, stores of heirloom seeds, freeze-dried food, water and filters, solar panels, batteries, ammo, guns (ideally bought from private citizens at gun shows)–and find places to hide it all from FEMA, which claims a mandate to steal anything you have to take care of idiots who didn’t save anything. Also, buy lots of trade goods that doesn’t take much space, such as pins, sewing needles and thread, scissors, boxes of nails, etc. Barter your trade goods for things you need, and help set up a bartering system with your like-minded neighbors BEFORE the SHTF.
A lot is not being told. Hycroft Mine had to lay off 1/2 their work force despite the Mine showing 481 million oz of silver. Nevada has some of the largest silver deposits in the world. So why isn’t silver available? Look to Uncle Sam as the prime reason.
You don’t want to buy those new Peace and Morgan dollars. The cost several times the silver content. They are made for collectors.
There is a coin show in my city this weekend. Silver eagles and silver rounds will be for sale there, gold too. The prices will be cheaper than the local coin dealer and the internet sellers. But it will still be at a premium to spot. Spot is now NOT an accurate reflection of value because of the banks selling gold and silver short in the futures market. Spot is determined by the futures market while value pricing is based upon demand. Demand for gold and silver is high now because of inflation and the war. Why are the banks selling PMs short you ask. Because they want the value of PMs and the dollar to be stable. If people realize the dollar is worthless and inflation hits 3 digits, the banks loan portfolios become worthless.
Well, I have heard it said that it only takes one person to f-f-f, uh, cause a 100 train car pile up. It sure looks like our pile up has happened. We can watch for the “trickle down effect.”