On Monday 21st 2011 Silver passed $34 an ounce at spot price for the first time in 31 years.
Gold passes $1400 an ounce as the world teeters on the edge both politically and financially
One must remember that you always need to add the premium, shipping, handling and insurance cost for actual delivery of physical bullion.
Last week’s action in the precious metals markets was astounding, but last Friday in particular marked what may officially be the beginning of the end for the precious metals paper manipulators.
In any other scenario than the one we are now facing, which includes a very tight physical metals supply chain and backwardation, at any other point in history Friday would have marked a bloodbath in the precious metals sector.
The banking cabala attempted yet another Silver and Gold smash by once again raising the margin requirements on Silver and Gold at the Comex (The paper trading of Silver and Gold).
Now when the CME did this exact same thing back in November 2010 by raising Silver margin requirements by 30% they succeeded in causing a Silver and Gold selloff.
But on Friday they pulled the same trick again but this time they raised the margin limits for Gold and Silver futures contracts by a whopping 50%, but this time instead of a selloff more people piled in and the price for the metals went up.
Something fundamental has changed and it may spell the end for the Silver and Gold Paper Manipulation scheme!
For those how still think that we have reached a top in the metals prices or at least that it must surely be near, just remember that when the major buyers of your debt become sellers, the Federal Reserve become the buyer of last resort, can you say hyperinflation!
China has sold billions of dollars in US Treasury Bills for the second month in a row, this is screaming the death of the US dollar and why the USA’s QE2 must go on to infinity.
Don’t kid yourself, food, fuels, credit and more basics of life are all going to go into hyperinflation and unless you have something like Physical Gold and Silver you will pay the price!
Yes the only way to protect yourself for certain is to be the holder of Physical metals and not the manipulated Paper Ponzi representation of Silver and Gold on the Stock exchanges linked to the Comex.