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If you missed the Special Report on Saturday…
Here is something you MUST read and understand. Look at the differences between the thought processes of the US and Chinese populations. When the metals go down, the Chinese rush in to buy more physical, whereas most people here in the US run the other way…
Its my opinion that China is now and will become even more powerful than the US in a short period of time. Its not that I want it that way, its just the way that it is…
We are headed for a catastrophe friends and China knows it. So instead of sitting on the sidelines to see what’s going to happen, they are protecting themselves NOW, they are not waiting until the SHTF –
When a big storm is coming and you see it on the news station, do you sit in disbelief and wait and see if they’re right, or do you get your family together and get prepared? This is the same thing friends!
Chinese Silver Inventories Nearly 90% Depleted At Shanghai Futures Exchange – It is truly amazing to watch how much silver inventories declined at the Shanghai Futures Exchange since March of 2013.
It’s important to understand that the Shanghai Futures Exchange as well as the Shanghai Gold Exchange behaves more as a physical delivery market than the COMEX. Most of the silver and gold contracts at the COMEX are settled in cash, whereas the vast majority of contracts on the Shanghai Exchanges are settled in physical metal.
Once the price of silver started correcting lower, inventories declined in March to 417 mt, and then a huge fall to 246 mt by the end of April. In May and June, silver inventories remained relatively flat as spot price bottomed then headed higher in June.
When June rolled into July, once gain, the price of silver headed lower right along with the decline in silver warehouse stocks.. Another 86 mt were withdrawn in July as inventories are now the lowest level (148 mt) they have ever been.
When you read this next story and how counties lead up to default and why, its an scary resemblance to what’s happening right now in the US
Coming Soon To A Country Near You? Not just Argentina: 11 countries near bankruptcy – After years of bitter court battles with creditors, Argentina has defaulted on its debt, according to rating agency Standard & Poor’s. After failing to come to an agreement with creditors from its previous default in 2001, the country missed necessary bond payments on July 31, triggering the default announcement.
As of publication, other organizations, most notably the rating agency Moody’s Investors Service and the International Swaps and Derivatives Association, a derivatives trade group, have yet to release public statements confirming the default.
Argentina is not the only country that has struggled, or even failed, to pay its debt in recent years. It is hardly the only country with a severely impaired credit rating either.
Alongside Argentina, Moody’s currently lists 10 other countries with a rating of Caa1 or worse. A Caa1 rating is several notches below Ba1, which still carries substantial credit risk. Based on ratings from Moody’s Investors Service, these are the 11 countries at risk of default.
Paul Craig Roberts – This Mega-Collapse Will Terrify People – It’s just really amazing that people still go into the stock market even though it’s up because the corporations are borrowing money from banks to buy their own shares.
The bonds are at negative real interest rates when extraordinary debt and money is created. None of this makes any sense — none. None of it would have been possible at any previous time in history. And we can add to that, nobody knows the consequences of these extraordinary derivatives that a few big banks have.
We are talking about derivatives that are some multiple of world GDP. They can’t possibly be covered. So I have never seen anything like it. These types of developments that produced this mess would have been strictly illegal in my day. So I don’t know what to make of it.
And I don’t know how much longer it can go on, particularly with Washington now beating the war drums, not against some helpless country like Iraq or Libya or Syria, but against Russia.
It’s just insanity. So what I see is a complete and total failure of the United States government. I do see that The War In The Gold Market Is Raging and what results when a government totally fails? We don’t know, but we are going to find out.
Is a correction near? Wall Street on edge – So much for the summer doldrums. Investors got a rude awakening last week, and now they’re scrambling to figure out what comes next. The Dow Jones industrial average fell more than 300 points on Thursday, erasing its gains for the year. The S&P 500 fell 2.7% last week, the biggest weekly decline since Jan. 2012.
Now onto the breaking news that matters….
The End of the Silver Fix – Will Silver Spike? – August 14 will be the last day of the silver fix. Some are speculating that the price of silver will jump on August 15. If the silver fix was really fixing the price, then maybe prices will adjust accordingly once the manipulators are out of the picture.
I don’t think the silver fix can really manipulate prices to much of an extent. Therefore, I think a big jump in the silver price on August 15 is unlikely. But in these markets, you never do know.
There are, however, other good reasons to buy and own silver. As I mentioned earlier, the price of silver will go higher as dollars become more plentiful. As the U.S. dollar depreciates in value, you will want to own things that do well in times of inflation.
Not only will silver go up in nominal terms, but it is quite likely that it will go up in real terms, too, meaning the price will go higher even when adjusting for inflation.
Forget the price fixing and just buy what you can now. If the price is being manipulated at all, then it should make it that much more of a buying opportunity.
4 Reasons To Prefer Investing in Silver to Gold – With Wall Street and a number of institutional investors like Ray Dalio and billionaire George Soros placing big bets on a recovery in precious metals, now is likely the time for investors to take the plunge. But the key question remains, which precious metal should they choose?
A key driver of silver prices is its rarity, and the amount of available silver is far lower than gold, even though it’s 17.5 times more abundant in the Earth than gold. This is because over 90% of all silver ever produced has been consumed primarily in industrial applications.
Even more pressing is that mine production is currently incapable of keeping up with demand, placing greater pressure on scrap metal and recycling. In 2013, despite silver production from mining jumping a healthy 3.5% compared to 2012, it only produced enough silver to meet 76% of the total physical demand in that year.
While mine production will continue to grow, this shortage will continue for the foreseeable future with the major silver miners having cut back on investing in the development of new projects after precious metal prices tanked. These factors, along with growing industrial demand, will certainly act as tailwinds to push the price of silver higher.
Despite Pullback, Gold To See Major Breakout – Today a legend in the gold world told King World News that despite the recent pullback; the gold market is about to see a major breakout to the upside. – Central banks are piling into gold, not dollars.
Gold has been caught in a trading range. Last week, gold rallied near the $1,300 level, and the breakout for gold on the charts is now in the $1,310 to $1,320 area. Gold is very close to that level. This tells me gold is most likely about to break out of this trading range to the upside.
Many people are wondering why gold isn’t up another $100 with all that is going on. But people need to understand that while the Dow has lost all its gains for the year, gold is up something like 7.5 percent. So gold has been a very good refuge in all this and my expectation is that we haven’t seen anything yet.”
Have we totally lost control of our rights? This next story happened in the next town from me – This is nuts.
I thought it was a parody from the Onion, but as it turns out… its true! A woman gets arrested for letting her son walk to the park by himself and has to pay a $4,000 bond!