On January 7th, we wrote of how the “Noose of reality continues to tighten” on TPTB; in their soon-to-miserably-fail attempt to control perception via unprecedented levels of money printing, market manipulation and propaganda. Moreover, we last week discussed the fraudulent “recovery” that will soon be understood to have never existed; and in fact, never will until the business cycle is either “allowed” to play out, or forced upon the world by the markets. This weekend’s superb Zero Hedge article refuting said “recovery” – re-published from none other than mainstream Wall Street firm Societe General – describes exactly what we have been referring to; and frankly, is must read material for anyone still drinking the MSM Kool-Aid. That is, anyone willfully ignoring the reality of the world around them.
As for Precious Metals, worldwide physical demand has never been stronger – even in the United States of Paper Dreams, where last year’s historic Cartel attacks have sapped sentiment to record low levels; and as we discussed last week, PM prices are now at oversold levels NEVER before seen. Better yet, COMEX registered gold inventory is down nearly 90% from last April, worth just $450 million; i.e., a few minutes of global money printing. And BTW, for those spreading propaganda that “don’t worry, there’s still seven million ounces of “eligible” inventory; such “inventory” is not inventory at all – but instead, private holdings not available for sale. Heck, my personal “inventory” at Brink’s Montreal could be considered “eligible” as well – in that one day I might sell it. But for now – and likely, years, it’s not going anywhere!
Anyhow, the world has waited nearly six weeks for the U.S. Mint to finally re-open, and start reporting 2014 orders; and on Friday afternoon, it finally did. And it was worth waiting for; as through January 17th, gold coin sales (Eagles plus Buffaloes) were a whopping 123,000; on a pro-rated basis, projecting to more than 224,000, which would make it the fifth strongest month ever. And actually, it’s really the fourth largest, as October 2009 should be excluded given that Buffaloes had not been sold the prior ten months; and thus, had huge pent-up demand.
Meanwhile, silver sales followed up their strongest year ever with a blistering start to 2014; racking up 3,464,000 ounces in just 17 days – prorating to 6.3 million, which would nearly make it the second strongest month ever.
As we wrote Friday – and I discussed in this weekend’s Audioblog – the Cartel’s decade-long price suppression scheme is clearly in its death throes. Zero Hedge wrote of it as well; as did Eric Sprott and Andrew Maguire in a series of must read material this weekend, of how the gaping disparity between soaring PHYSICAL demand and depressed PAPER prices must resolve to the upside – likely, in short order.
As my good friend Brent Santiago highlighted last week – in this fabulous presentation – it’s only “halftime” for this generational PM bull market; and sadly, the final minutes of history’s most destructive fiat currency experiment. Time is running out; so please, PROTECT yourself, and do it NOW.