2013-04-17 — paulcraigroberts.org
From Friday to Monday the premium on Silver Eagles at the large online retailer, Gainesville Coins, rose from $3.75 to $5.99 above the spot price of silver. The percentage increase in premium was larger than the percentage decline in the silver price. Thus, the price of a silver one Troy ounce coin did not drop despite the drop in the spot price... Listening to the media and to academic economists such as Paul Krugman, you would think no one any longer wants gold and silver. But try getting your hands on some.
The Federal Reserve and the US Treasury using their dependent bullion banks, every one of which would be busted if interest rates were not rigged by the Federal Reserve, have used leverage in the paper market to drive down the prices of gold and silver; yet, purchases of physical bullion are outrunning supplies.
What we are witnessing is the failure of a policy of financial corruption.
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