Mint – Infinite Unknown

12 of the most POWERFUL antibiotics you can get without a prescription

August 9, 2017 by Infinite

Additionally (I.U.):

Acacia, aloe, cryptolepsis, eucalyptus, grapefruit seed extract, juniper, sage, usnea, wormwood, onions, oregano, thyme, cloves, lemongras, capsicums, rosemary, marjoram, mustard, mint, fennel, coriander dill, basil, nutmeg, parsley, cardamom, pepper, lemon juice, black walnut hull tincture, propolis, bear leek (Allium ursinum), …

– 12 of the most POWERFUL antibiotics you can get without a prescription:

We have entered a truly dangerous period in human history in which not only have we lost touch with traditional, natural treatments for infection, but improper and excessive use of antibiotics has led to drug-resistant superbugs. Back in 2012, Dr. Margaret Chan, then director-general of the World Health Organization (WHO), noted that we are moving toward a post-antibiotic era in which “things as common as strep throat or a child’s scratched knee could once again kill.”

Then, just last year, Reuters reported that for the first time in the U.S., a patient had been diagnosed with an infection “resistant to a last-resort antibiotic.” At the time, health officials “expressed grave concern that the superbug could pose serious danger for routine infections.” [Related: Stay abreast of the latest information at Superbugs.news.]

As Dr. Chan noted, in terms of new antibiotics, the “pipeline is virtually dry. The cupboard is nearly bare.”

It is therefore becoming increasingly important that we familiarize ourselves with the ancient knowledge of natural antibiotics that have all but been forgotten by modern medicine.

Rebecca Tarrant, writing for Ask a Prepper, provides a list of 12 of the most powerful antibiotics known to man – and not a single one was created in a laboratory. [Related: Learn more about natural healing at Nutrients.news.]

One Week Into 2014, UK Royal Mint Runs Out Of Gold Coins

January 8, 2014 by Infinite

– One Week Into 2014, UK Royal Mint Runs Out Of Gold Coins (ZeroHedge, Jan 8, 2014):

Update: the UK mint was kind enough to advice that “only” Sovereigns are sold out. More expensive coins are still available:

@zerohedge Hi, only #gold #bullion #Sovereigns are sold out. Britannia bullion & Proof Sovereigns are in stock: http://t.co/YFz8AEqOGP

— The Royal Mint (@RoyalMintUK) January 8, 2014

Just 2 day safter their release, The U.K.’s Royal Mint said it ran out of 2014 Sovereign gold coins “due to exceptional demand.”

*U.K. ROYAL MINT SAYS RUNS OUT OF 2014 SOVEREIGN GOLD COINS

*ROYAL MINT SAYS EXPECTS TO HAVE COIN STOCK AGAIN BY END OF JAN.

The mint added “Since the dip in the price of gold we have seen increased demand for our gold bullion coins from the major coin markets, and this presently shows no sign of abating.”

Via Bloomberg,

The U.K.’s Royal Mint said it ran out of 2014 Sovereign gold coins “due to exceptional demand.”

Read moreOne Week Into 2014, UK Royal Mint Runs Out Of Gold Coins

No More Dead Presidents As Mint Stops Coin Production: More Than 40 Percent Of The 70-80 Million Coins Per Deceased President Coins Are Returned To The Federal Reserve Because Nobody Wants Them

December 14, 2011 by Infinite

– No More Dead Presidents As Mint Stops Coin Production (ZeroHedge, Dec. 13, 2011):

In continuing efforts to save governmental money (and waste) the Washington Post is reporting that the United States Mint will cease production of Dollar coins (with each carrying a deceased President’s likenesses). More than 40% of the coins have been returned to the Fed because no one wants them. Who needs real money when 1s and 0s are all that counts nowadays?

White House cutting production of presidential dollar coins; will save taxpayers $50 million

The presidential dollar coin is falling victim to Washington’s cost cutting efforts.

The Obama administration is stopping nearly all production of the coins, which carry the likeness of every deceased President. The effort will save taxpayers $50 million a year in production and storage costs.

In 2005, Congress mandated that the United States Mint issue the coins. But the White House says more than 40 percent of the coins are returned to the Federal Reserve because nobody wants to use them.

Instead of producing 70-80 million coins per deceased president, the Mint will now only produce as many as collectors want.

The announcement is part of the White House campaign to cut back on government waste.

No Silver? No Problem: US Mint Would Like To Know If You Will Accept Brass, Steel, Iron Or Tungsten Coins Instead

March 9, 2011 by Infinite

Wonder why the US mint has not sold a single ounce of silver so far in March? Here is a clue:

Press Releases
March 7, 2011

United States Mint Seeks Public Comment on Factors to be Considered in Research and Evaluation of Potential New Metallic Coinage Materials

WASHINGTON – The United States Mint today announced that it is requesting public comment from all interested persons on factors to be considered in conducting research for alternative metallic coinage materials for the production of all circulating coins.

These factors include, but are not limited to, the effect of new metallic coinage materials on the current suppliers of coinage materials; the acceptability of new metallic coinage materials, including physical, chemical, metallurgical and technical characteristics; metallic material, fabrication, minting, and distribution costs; metallic material availability and sources of raw metals; coinability; durability; sorting, handling, packaging and vending machines; appearance; risks to the environment and public safety; resistance to counterfeiting; commercial and public acceptance; and any other factors considered to be appropriate and in the public interest.

Read moreNo Silver? No Problem: US Mint Would Like To Know If You Will Accept Brass, Steel, Iron Or Tungsten Coins Instead

Silver Touches Fresh 31 Year High of $34.90, US Mint Runs Out Of Bullion Blanks, Halts American Eagle Silver Coin Production

March 2, 2011 by Infinite

The scramble for non-dilutable currencies hits a frenzy as silver just touches on a fresh 31 year high of $34.90.

To commemorate this historic event, the US Mint has halted American Eagle silver coing production, in addition to its ongoing halt of American Buffalo coins:

“because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced. The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.”

Submitted by Tyler Durden on 03/02/2011 09:45 -0500

Source: ZeroHedge

And of course Blythe Masters was right that nobody can manipulate the silver market, right?:

Added: 05.07.2010

Sure Blythe! Nobody believes that BS anymore. Game over.

It’s just a fact now that there is nothing left!

Silver is still incredibly cheap.

I would buy every silver Maple Leaf, American Eagle or Wiener Philharmoniker I could get my hands on.

Only physical gold and silver are real, everything else is an illusion.

– Exposed: The iShares Silver Trust (SLV) Scam

More on gold and silver:

Silver:

– CNBC: Total Silver Demand At 127% ! – The Case For $130 Silver

– Dollar Ready to Collapse, Silver Squeeze to Continue

– Even The Royal Canadian Mint Now Says It’s Difficult To Secure Silver

– Unprecedented: Silver Backwardation Surges To Over $1.00

– Eric Sprott on Silver: ‘THERE IS NOTHING LEFT’

– Fractal Analysis Suggests Silver to Reach $52 – $56 by May – June 2011

Even The Royal Canadian Mint Now Says It’s Difficult To Secure Silver

February 25, 2011 by Infinite

With continued reports of booming sales and tightness in the silver market, today King World News interviewed Dave Madge director of sales at the Royal Canadian Mint. When asked if the RCM is having trouble acquiring silver Madge responded, “Demand right now for silver is through the roof and it shows no signs of slowing at this point. Sourcing silver is becoming very difficult. We are competing with a great many players when it comes to purchasing silver and many of these players are bidding the price higher.”

Dave Madge of the Royal Canadian Mint continues:

“Our advantage is that we have had long-term relationships with our suppliers and that has helped us in this situation. We have been able to leverage off of those relationships to get supply, but it still remains a big challenge sourcing material. We’re looking at ways of mitigating our risk regarding supply of silver.

We are anticipating it to become even more difficult to secure supplies in the future. This is based on what we are seeing firsthand and what our suppliers are telling us. We work closely with these banks to secure silver and they tell us there is a lot of competition.”

…..

Full article here: King World News

– Eric Sprott on Silver: ‘THERE IS NOTHING LEFT’

– Fractal Analysis Suggests Silver to Reach $52 – $56 by May – June 2011

– Silver Backwardation Now ‘Unprecedented 73 Cents’

US Mint Sells Absolute Record 6.4 Million Ounces Of Silver In January, 50% More Than Previous Highest Month

February 2, 2011 by Infinite

Don’t miss:

– Eric Sprott: Expect $50 Silver, Gold Possibly $2,150 by Spring

As the topic of US Mint silver sales is not new to our readers, after we first brought attention to the record January sales by the Mint, we will not dwell much on it, suffice to say that the final January tally is in.

And at 6,472,000 ounces, this is nearly 50% higher than any prior month in the Mint’s 26 years of published sales history.

US Mint Reports Unprecedented Buying Spree Of Physical Silver

January 17, 2011 by Infinite

Only physical silver and gold are real, everything else is an illusion.

Three days ago we noted that in just the first week of January, the US Mint had sold 2,221,000 ounces of silver “a number which if run-rated would be an absolutely all time monthly record,” A quick glance at the tally today, shows that something very scary is going on. In the subsequent three days, the number has surged by 50% and has hit 3,407,000 ounces of silver! In just the first 12 days of the month we have already surpassed the total monthly sales of 9 separate months of 2010.

And some additional observations on what is becoming a physical buying frenzy from CoinNews.net:

An increase in 2010 Silver Proof Eagles and record-approaching 2011 Silver Bullion Eagles are the most interesting aspects in the latest US Mint sales report.

The Proof Eagle coins have seen two weekly adjustments since they sold out in late December. The latest brings them up 3,644 to 860,000, which would seem like a natural stopping point. Collectors will have to wait until the July time frame for the 2011 Silver Proof Eagles to make their appearance, according to the US Mint.

2011 bullion eagles launched on January 3, 2011. Silver Eagles already have last year’s January record in their sight. The coins have raced to 3,407,000 in less than two weeks after their latest weekly pick-up of 1,322,000. Until January 2009, the silver coins had never topped the 3 million mark during the first month of a year. Those record sales totaling 3,592,500 may get clobbered in mere days. The all-time monthly high of 4,260,000 which was just set in November could be the next victim. As a side note, the 3,407,000 sold this month includes 469,500 of the 2010-dated issues. The US Mint had buyers order one 2010 Silver Eagle for every five of the 2011?s.

Bullion one-ounce 2011 Gold Eagles are running, but not sprinting like their silver counterparts. US Mint sales has their tally at 42,500 for a weekly increase of 29,000. As a comparison, buyers ordered 85,000 in January 2009. Inventory of the 2010-dated coins also remains. There were 53,000 at the start of the year. US Mint Authorized Purchasers must order one old for every four of the new ones.

Mike Krieger presents the following disturbing observation on this trend: “In the first 12 days of January 3.4 million silver eagles have been sold. I have never seen anything like this. The amount of physical being taken off the market on this paper sell off is EXTRAORDINARY. We must be VERY close to the end.” Whoever has adopted JPM’s legacy paper silver short position is in for some very troubling days ahead.

Submitted by Tyler Durden on 01/13/2011 14:23 -0500

Source: ZeroHedge

Related information:

– The Ultimate Cost of 0% Money

– These Central Banks Are Printing Money – Prepare Yourself

– Quantitative Easing Explained

Gold:

– George Soros’ and John Paulson’s Biggest Holding Is GOLD

– China, Russia, Iran are Dumping the Dollar, Buy Gold And Silver

– Gold and Gold Mining Shares As a Percentage of Global Assets or ‘The Once In a Lifetime Ride’

Silver:

– BullionVault.com Runs Out Of Silver In Germany

– Silver: Shortage This Decade, Will Be Worth More Than Gold

– Silver Derivatives – China and JP Morgan

– Max Keiser: Want JP Morgan to Crash? Buy Silver!

– Max Keiser: Crash JP Morgan – Buy Silver!

– JPMorgan Silver Manipulation Explained (Must-See!)

And don’t forget to do this (!!!):

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

US Mint suspends sales of American Eagle 1oz gold coins

November 27, 2009 by Infinite

US Mint suspended sales of its popular American Eagle 1oz bullion coins after demand from retail investors stripped its vaults bare.

Sales of the coins are expected to resume in early December.

Investors have been snapping up American Eagle coins, as well as Krugerrands from South Africa and Canada’s Maple Leaf coins as a hedge against inflation and the falling dollar.

Today 1oz American eagles were selling for $1,232.84 each, up $17.24. The coins have a face value of $50 but are sold by dealers at a premium to the price of gold.

Gold futures hit another record today of $1,188.60 per ounce for February delivery.

The US Mint said that it had depleted its current inventory of 1oz American Eagles after selling 124,000 ounces so far this month, up from 115,000 ounces sold in both September and October.

Gold coin shortage as demand soars

February 26, 2009 by Infinite

The rush by retail investors into bullion coins is creating shortages as mints across the world struggle to meet the surge in demand, dealers and mint officials say.

The scarcity is lifting coin premiums to as much as 5 per cent above the spot gold price, a level reached briefly after the collapse of Lehman Brothers last September, when coin shortages also surfaced.

Spot gold in London on Wednesday traded at $972 an ounce, below last week’s peak of $1,004.5.

“There is demand for double or triple what the US mint is able to produce,” said Michael Kramer, president of MTB in New York, one of the four US gold dealers authorised to purchase bullion coins directly from the government’s mint.

The US Mint has sold 193,500 ounces of its popular American Eagle gold coin in the first seven weeks of this year, the same amount it shipped during the whole of 2007 and about the same as in the first six months of last year.

Mint suspends orders amid rush to buy bullion; One European client purchased 30,000 ounces for $33 million

November 21, 2008 by Infinite

FEARS of the unknown long-term effects from the global financial crisis have sparked a new gold rush.

With retail and wholesale clients around the world stocking up on the precious metal, the Perth Mint has been forced to suspend orders.

As the World Gold Council reported that the dollar demand for gold reached a quarterly record of $US32 billion ($50.73 billion) in the third quarter, industry insiders said the race to secure physical gold had reached an intensity that had never been witnessed before.

Perth Mint sales and marketing director Ron Currie said the unprecedented demand had forced the Mint to cease orders until January, with staff working seven days a week, 24-hour days, over three shifts to meet orders.

He said Europe was leading the demand, with Russia, Ukraine, Middle East and US all buying — making up 80 per cent of its sales. One European client purchased 30,000 ounces for $33 million.

“We have never seen this before and are working right at capacity. And we are seeing it from clients in the shop buying one ounce, right up to 30,000 ounces from overseas clients,” Mr Currie said.

Financial crisis: demand for gold soars as price tumbles

October 23, 2008 by Infinite

Investors have rushed to buy gold bars and bought exchange traded funds, worth US$2.8 billion – the biggest inflow on record.

Gold bars - Gold offers safety as the financial crisis rages
Good as gold: investor demand for gold remains high Photo: EDDIE MULHOLLAND

The onset of a global recession and falling stock markets have triggered a stampede for gold – the traditional safe haven during times of uncertainty.

According to the World Gold Council, exchange traded funds are the main beneficiary of the flight to safety. ETFs experienced their strongest quarterly inflow during the third quarter since SPDR®Gold Shares – the first gold ETFs – were launched in November 2004.

But the Council added that bullion dealers around the world reported an unprecedented surge in demand for coins and small bars. It said that there had been reports outright shortages of gold and high premiums over the gold spot price. The US Mint temporarily suspended sales of American Buffalo gold 1 ounce coins after its stocks were depleted, while UK, German and Austrian coin dealers have also reported an enormous increase in demand during the third quarter, it added.

The average gold price edged down slightly between June and September, to $870.88/oz, from $896.11/oz in the previous three months. Gold traded as high as $986/oz on July 15, the day after the US Treasury and Federal Reserve Bank announced plans for a joint bail-out of mortgage giants Fannie Mae and Freddie Mac, but fell sharply later in the quarter to a low of $740.75/oz on September 11. This proved short lived, however. By the end of the quarter, the gold price had rebounded to $884.50/oz.

Yesterday, gold was trading at $729.20 an ounce after hitting intraday low of $718.20 — its lowest level since September 2007.

Austria witnesses new gold rush

October 12, 2008 by Infinite

There’s a new gold rush.

The financial crisis is prompting people to look for safer forms of investment than stocks and shares.

Both international speculators and ordinary Austrians want to get their hands on gold

The interest in gold coins is so great that many of the world’s major mints are struggling to keep up with demand, including the Austrian Mint, which produces the Vienna Philharmonic – one of the best-selling bullion coins worldwide.

Sales of Vienna Philharmonic gold coins have gone up by more than 230% since last year.

Kerry Tattersall, the director of marketing at the mint, says production has gone into overdrive.

“We are running at present something like three shifts on all of the machines, on the presses, producing both gold and the silver bullion coins.

How gold coins are made

“We’ve actually got delays in delivering orders in silver. With gold, we are just about keeping pace, but it is a bit of a struggle.”

In September alone, the mint sold 100,000 ounces in gold coins – in normal times it would take three to four months to sell that much.

Central banks all but stop lending bullion

October 8, 2008 by Infinite

Central banks have all but stopped lending gold to commercial and investment banks and other participants in the precious metals market, in a move that on Tuesday sent the cost of borrowing bullion for one-month to more than twenty times its usual level.

The one-month gold lease rate rocketed to 2.649 per cent, its highest level since May 2001 and significantly above its five-year average of 0.12 per cent, according to data from the London Bullion Market Association.

Gold lease rates for two, three and six months and for a year also jumped to levels not seen in the last seven years.

US Mint halts some American Eagle coin production

October 7, 2008 by Infinite

NEW YORK, Oct 7 (Reuters) – Unprecedented demand for precious metals and volatile markets forced the U.S. Mint to cease production for the half-ounce and quarter-ounce popular American Eagle gold coins for the rest of this year and to supply other bullion coins on an allocation basis.

“Due to the extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high,” the U.S. Mint said in a Monday memorandum to its authorized coin dealers.

“The U.S. Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the U.S. Mint to focus remaining bullion production primarily on American Eagle Gold One Ounce and Silver One Ounce Coins,” the Mint said.

Gold demand soars. Price falls. What’s going wrong?

September 6, 2008 by Infinite

Physical demand for gold is surging but the price keeps taking serious knocks. What’s happening.

LONDON – Gold market manipulation conspiracy theorists should be having a field day. The past few weeks have seen solid evidence that physical gold demand from individuals is soaring. We have seen the U.S. Mint having to suspend one ounce Gold Eagle coin sales because of what it terms ‘unprecedented demand’, Indian gold sales have picked up enormously in the past few weeks leading to purchasers having to wait several days for deliveries as the traditional sellers are short of gold, while yesterday we hear that Abu Dhabi, a major trading centre for precious metals, has seen gold sales rise by 300 percent in volume and 250 percent in value in August compared with a year ago.

According to a Reuters report quoting Abu Dhabi Gold and Jewellery Group Chairman Tushar Patni “It was the best month the market has seen in almost 30 years and it compensated for any drops we have seen earlier this year. We had never expected that if gold fell below $800 an ounce we would see a 300 percent increase in volume and 250 percent in value, especially as many buyers are abroad on holiday.”

World’s Largest Gold Refiner Runs Out of Krugerrands

August 29, 2008 by Infinite

Aug. 28 (Bloomberg) — Rand Refinery Ltd., the world’s largest gold refinery, ran out of South African Krugerrands after an “unusually large” order from a buyer in Switzerland.

The order was for 5,000 ounces and it will take until Sept. 3 for inventories to be replenished, said Johan Botha, a spokesman for Rand Refinery in Germiston, east of Johannesburg. He declined to identify the buyer.

Coins and bars of precious metals are attracting investors as a haven against a sliding dollar and conflict between Russia and its neighbor Georgia. The U.S. Mint suspended sales of one- ounce “American Eagle” gold coins, Johnson Matthey Plc stopped taking orders for 100-ounce silver bars at its Salt Lake City refinery and Heraeus Holding GmbH has a delivery waiting list of as long as two weeks for orders of gold bars in Europe.

“A lot of people are worried about the dollar, they’re worried about inflation and now we have geopolitical risk with what’s happening in Russia,” said Mark O’Byrne, managing director of brokerage Gold and Silver Investments Ltd. in Dublin. O’Byrne said his company’s sales are up fourfold this year, heading for a record since its founding in 2003.

U.S. Mint resumes gold coin orders on limited basis

August 25, 2008 by Infinite

NEW YORK (Reuters) – The U.S. Mint said it must allocate the American Eagle bullion coins among dealers to cope with overwhelming demand as it resumed taking orders for the popular coins on Monday.

“The unprecedented demand for American Eagle gold one-ounce bullion coins necessitates our allocating these coins among the authorized purchasers on a weekly basis until we are able to meet demand,” the U.S. Mint told its authorized American Eagle dealers in a memo dated August 22.

Last week, soaring demand forced the U.S. Mint to suspend temporarily sales of the American Eagles, creating a shortage in the one-ounce version of the coins, which are also available in other weights and denominations.

The Big Sting Two

August 22, 2008 by Infinite

By Bob Chapman

The plan for an economic takedown, the results of rampant market speculations, insiders picking up assets for pennies on the dollar, the coming hyperinflation, the credit crunch, collapse of the dollar carry trade, suppression of metals prices, American meddling in Georgia

Wall Street Journal: US Mint Halts Gold-Coin Sales

August 22, 2008 by Infinite

As gold prices tumbled from their highest level ever, investors and collectors loaded up on one-ounce “American eagle” gold-bullion coins. The buying spree came to an abrupt halt this week after the U.S. Mint stopped selling the coins for the first time since production began 20 years ago.

David Gothard

“Due to the unprecedented demand…our inventories have been depleted,” the Mint — part of the U.S. Treasury Department — told its dealers Friday. “We are therefore temporarily suspending all sales of these coins.”

The move shocked sellers and collectors of the coins, which are the most widely traded in the U.S. Suppliers became angry as they turned away customers. Theories about the decision’s underlying cause ran rampant — from investors in gold futures to Russia’s invasion of Georgia.

“This whole thing started about the time the Ruskies made their move,” a collector noted in an Internet chat room called goldismoney.info. “It may very well be that the USGovt is preparing for the real financial meltdown by hoarding all remaining gold flows.”

The Mint says it simply was wiped out. It has sold 311,000 ounces of the coins this year — about 50% more than in all of 2007. In the first few weeks of August alone, buyers snapped up 63,500 ounces.

“We are working diligently to build up our inventory and hope to resume sales shortly,” the Mint wrote in a memo to dealers.

The United States Mint
The U.S. Mint has stopped selling American eagle gold-bullion coins.

The Disconnect Between Supply and Demand in Gold & Silver Markets

August 19, 2008 by Infinite

There is a huge demand for both gold and silver right now in India and North America. North American shops are completely bare of silver. Indian shops are empty of both silver and gold. Even the Indian banks don’t have any gold or silver. The big western bullion banks, based in New York and London, control both the gold and silver trade. Reports from India are that they are refusing to extend Indian bank lines of credit, forcing the small banks to deliver to clients, collect money, and pay down lines of credit, before being allowed to take delivery of another gold or silver shipment. This is very abnormal. Normally, if a banker’s bank knows that its customer-bank has firm orders, it would extend the smaller bank a bigger line of credit. Not now.

By refusing to extend lines of credit, the big bullion banks are essentially rationing a very thin supply. Most physical silver, for example, is being reserved for industrial and fabrication use, and investors are simply not able to get any, without waiting for months. Investor oriented shops are bare, and the U.S. Mint has suspended coin production. All available supply seems to be reserved for industrial users. You cannot substitute paper claims for real silver, in industrial use, because paper doesn’t have the physical properties of silver. So, it seems that all available supply is being diverted to industrial users, and, to a lesser extent, aside from the squeeze on lines of credit, also to jewelry fabricators. But, investors are left out in the cold. They can accept paper claims, or nothing. The most interesting mistake that the manipulators have made is in not supplying the U.S. Mint, which has run out of silver, proving that there is a severe shortage.

U.S. mint suspends gold coin sales; futures price is a fiction

August 17, 2008 by Infinite

This is very important news. There is a massive manipulation going on and as I have said before that when the financial markets collapse you will not be able to buy Gold and Silver anymore and even if you could it would be too late. Related article: U.S. Dollar Intervention Protect yourself.
______________________________________________________________________________

Dear Friend of GATA and Gold:

The U.S. Mint has suspended sales of American eagle gold coins and is refusing orders from dealers, two coin and bullion dealers confirmed Thursday.

The mint’s suspension of gold coin sales follows its tight rationing of sales of silver eagle coins, begun in May, when sales to the public were terminated and sales to the mint’s 13 authorized dealers were tightly limited.

Silver Rationing

June 4, 2008 by Infinite

The 2008 Silver Eagle dollar coins have become so wildly popular, the U.S Mint stopped taking orders for the bullion coins in March, and late last month began limiting how many coins the exclusive group of 13 authorized buyers globally can purchase.

Silver’s growing popularity as an investment vehicle has stymied the U.S. Mint, which stopped taking orders for its American Eagle Silver Bullion coin, and rationed sales for the remainder of this year.

On Thursday, Michael DiRienzo, Executive Director of the Silver Institute, asked Edmund Moy, Director of the United States Mint, to meet with institute members to discuss immediate remedies to the shortage.

The American Eagle Silver Bullion coin is the country’s only official investment-grade silver bullion coin with weight, content and purity guaranteed by the U.S. Government. With their unique government backing, the Silver Eagle dollar coin can be sold for cash at most coin and precious metals dealers globally. They are also considered legal tender and sell at silver’s prevailing marketing price, plus a small premium to cover coinage and distribution costs.

The U.S. Mint advertised the coin as a building block for precious metals investment. “They increase your portfolio’s diversity by bringing balance because their value often moves independently of stocks and bonds. They offer liquidity, meaning they’re easy to buy and sell. And in this fast-paced world of electronic investing, Silver Eagles are tangible investments whose beauty and artistry you can literally enjoy in the palm of your hand.”

The Wall Street Journal recently reported that the coins are made at an armored facility in West Point, New York, next to the military academy. “Dealers said they heard that the mint had run out of planchets-round metal disks ready to be struck into coins. …The companies producing the blanks are also busy, limiting the mint’s ability to increase production. The mint won’t comment on the planchets.”

Jim Hausman of the Gold Center in Springfield, Illinois, one of eight U.S. companies authorized to buy silver eagles, told the WSJ that the rationing will halve his expected annual sales of 4 million eagles.

As of May of this year, the U.S. Mint reports that 7,252,500 of the silver bullion coins had been sold, which had promised to well exceed the total of 9,887,000 coins sold last year. (!!!)

Congress Is Clueless On The Oil Issue

May 28, 2008 by Infinite

Related video: The Energy Non-Crisis by Lindsay Williams

The U.S. Congress continues to show an incredible amount of ignorance on the oil issue. This week, the U.S. Senate held a hearing on the high price of oil and called out a group of oil company executives to testify. In addition, the U.S. House of Representatives approved a bill to sue OPEC over the high oil price. All of this grandstanding by our so called elected officials is going to do nothing to resolve the high oil price. This is a case of the U.S. Congress misdirecting the blame of the high oil price on OPEC and the major oil companies when they are really only minor players in this game. Threatening to sue OPEC is an incredibly stupid move because that could very well have the reverse effect and cause OPEC to respond to this threat by reducing the amount of oil they decide to pump. The two major reasons for the high oil price involve the Federal Reserve devaluing the U.S. Dollar through their monetary policies as well as the U.S. occupation of Iraq and Afghanistan. On top of this, it is clear that the Bush administration is looking for any excuse possible to bomb Iran. Israeli Prime Minister Ehud Olmert has even stated that a naval blockade of Iran is an option that should be put out on the table. With the devaluation of the U.S. Dollar and a potential expansion of war in an area where a tremendous amount of oil is drilled, it is no wonder why the oil price has skyrocketed as high as $135 a barrel. This makes the actions of the U.S. Congress entirely insane and intellectually bankrupt. Expect oil prices in the long term to move much higher.

Since oil is priced in U.S. Dollar denominated terms and the monetary unit of the U.S. Dollar continues to be devalued by the Federal Reserve’s ability to create as many U.S. Dollars as they like, it isn’t a real mystery as to why the oil price is so high. Instead of suing OPEC, the U.S. House of Representatives should be suing the Federal Reserve for fraud. The Coin Act of 1792 states that U.S. Mint employees who are caught debasing the nation’s coinage would be subject to the penalty of death. The Federal Reserve is engaging in the intentional debasement of the nation’s currency which is fundamentally no different and in fact worse than employees of the U.S. Mint debasing the nation’s coinage. Instead of debasing the physical coinage, bankers can simply type digits into a computer to devalue the nation’s currency. Maybe the death penalty should be explored for some of the central bankers that have engaged in these practices.

The U.S. Congress is also helping to contribute to the high oil price with their ridiculous policies. They have funded the illegal and unconstitutional occupation of Iraq and Afghanistan since 2003. The U.S. Senate just passed another war funding bill which will give the executive branch another $165 Billion to continue military operations in Iraq and Afghanistan. By continuing the military occupation of these countries it makes an attack on Iran all the more likely and contributes to greater uncertainty in the oil producing region.

General David Patreaus the current commander in Iraq is on the path to being confirmed as the new CENTCOM commander which means he will be in charge of all U.S. military operations in the Middle East. Assuming he gets confirmed, the chances of a strike on Iran will be all the more likely. Admiral William Fallon the former CENTCOM commander resigned from the position due to the perception that he was refusing to play ball with the Bush administration’s agenda on Iran.

Silver Eagles Shortage

May 24, 2008 by Infinite

The government rationed food during World War II and gasoline in the 1970s. Now, it’s imposing quotas on another precious commodity: 2008 dollar coins known as silver eagles.

The coins, each containing about an ounce of silver, have become so popular among investors seeking alternatives to stocks and real estate that the U.S. Mint can’t make them fast enough. In March, the mint stopped taking orders for the bullion coins. Late last month, it began limiting how many coins its 13 authorized buyers world-wide are allowed to purchase.

“This came out of nowhere,” says Mark Oliari, owner of Coins ‘N Things Inc. in Bridgewater, Mass., one of the biggest buyers of silver eagles. With customers demanding twice as many as they did last year, Mr. Oliari would like to buy 500,000 a week. But the mint will sell him only around 100,000.