Implode-o-Meter News - Banco Azteca: New policy on purchase and sale of silver â€˜Libertadâ€™ coins

In response to the restriction on supply of silver â€œLibertadâ€ coins applied last week by the Bank of Mexico, Banco Azteca will proceed as follows:

Banco Azteca will seek to attract the re-sale of silver ounces in order to satisfy, as much as possible, the strong demand forecast for the year-end.

Therefore, Banco Azteca will raise the re-purchase price of silver from the public to where the re-purchased quantities equal the quantities sold to the public, always maintaining the necessary margin to cover costs.

Wow... the move towards real-world pricing has begun. COMEX will be irrelevant after not too long (if it is even functioning). Also interesting are remarks on the "excuse" for the lack of balance in the market:

Banco Azteca was informed by a source at Banco de Mexico, that the restriction of supply was due to a â€œvery large foreign order for silver ouncesâ€.

...

The Mexican Civic Association Pro Silver does not accept this excuse, even if it were true, because in any case providing the Mexican people with silver ounces would have to be its Number One priority, and not supplying a foreign buyer while depriving Mexicans of silver ounces.

Furthermore, this Association was told years ago by an officer of Banco de Mexico that the Mexican Mint was capable of minting up to 10 million ounces of silver coins a year.

We believe the restriction of supply in silver ounces is meant to deprive the Mexican population of the possibility of seeking refuge in silver as a protection against financial and economic carnage, and to force Mexicans into depositing their savings in the Banking System, with its risks.

People are catching on to the scam -- nominally "legal" gold and silver ownership, but so controlled and distorted as to be a non-factor... at least, relative to the paper-centric banking world.

Relevant:

Banco Azteca: New policy on purchase and sale of silver â€˜Libertadâ€™ coins