Kitco – Infinite Unknown

Flashback:

– US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

– Kitco Raid: Why You Should Avoid Storing Gold in Canada (Kitco, 15-06-2011):

Peter Macfarlane writes about the raid last week on one of the world’s most prominent gold dealers, a clear demonstration that Canada cannot be regarded as an offshore safe haven. This is why you should NOT buy, store or trade gold in Canada.

Here at Q Wealth we have lots of readers from North America – both from the USA and from Canada. Canada has a respectable image internationally (the Canadian government rarely stirs up trouble outside its borders), and the Canadian banking system is admittedly much more stable than the US. Even the currency has been doing well, backed in part by Canada’s huge wealth of gold and other natural resources.

Read more5 Top Reasons Why The Canadian Dollar Will Not Survive A US Dollar Collapse – Why You Should Avoid Storing Gold in Canada: Kitco Raid

Silver 6 Months

(If you don’t hold it, you don’t own it)

Three more major silver dealers are reported to be out of silver today: The U.S. Mint, Kitco, and Monex. This, on top of the major dealers yesterday, Amark, Perth Mint, CNI Numismatics, and APMEX, all reported sold out. Further, nearly all of Canada is reported to be out of silver, from Vancouver to Toronto.

This is unprecedented, and is a perfect case of market manipulation in the paper market at COMEX and other futures exchanges to see silver prices continue to drop down to below $17/oz. today. Paper promises can be created endlessly, but real silver cannot.

This is NOT a case of the dealers getting spooked, and selling out to the refiners just in time, at peak prices. This is a case of the public buying up the stock at coin shops across the world ever since gold hit $1000/oz.. That event finally sparked a little of the public’s buying of silver and gold. Thus, the typical coin shop flow of silver to the refiners just stopped in the last few weeks, and especially the last two days.

This is NOT a case of the public creating a top with ‘everyone’ in silver, because nobody’s in silver yet. In 2006, only $1 billion was spent on investment silver, which is 0.007% of the $13.5 trillion of money in the banks. As I have long reported, the silver market is so small, there is no room for new investor demand, not even 0.1% of money could be spent on silver, because that would be $13 billion, which would push silver prices to $200/oz., and we are seeing only the tiniest beginnings of that.