An ethical person - like a politician, banker or lawyer - may know right from wrong, but unlike many of them, a moral person lives it. An Americanist first already knows that.
Bankers and their government agents will always act in their own best interests. Any residual benefit flowing down to the citizens by happenstance will just be litter.
In my Numismaster column earlier this week, I discussed some facts about what led to the sudden sharp drop in gold and silver prices, then speculated on some possible events that might be occurring behind the scenes. I concluded that the drop in prices represented a bargain buying opportunity instead of being an indication that the gold and silver markets were past their peak.
The product experiencing the longest delay right now is Johnson Matthey 100 Ounce silver ingots. Buyers will have to wait for new product to be fabricated. The end of the line, as I type this in the early afternoon on September 29, is about 7 weeks delay. By the time this is published, the delay will almost certainly be longer.
For most sizes of silver ingots, US American Silver Eagles, and Canadian Silver Maple Leafs, you can still receive delivery within two weeks from the time you pay for it. But, I expect these delivery times to quickly extend further into the future. Even if you can still purchase ingots at the same dollars and cents premium above spot price than two weeks ago, the lower silver spot price means that the percentage premium has risen. A $1.00 per ounce premium at $40.00 spot is only 2.5% whereas it would be a 3.3% premium at $30.00 silver spot.
US 90% Silver Coin, a physical silver product that has not been in production since 1964, is no longer available on the wholesale market at prices below the intrinsic value of the silver. In fact, it seems like the premium is trickling up literally almost every hour right now. I expect that the premium will continue to rise. For now, supplies are plentiful, but that could change within days... read more
The product experiencing the longest delay right now is Johnson Matthey 100 Ounce silver ingots. Buyers will have to wait for new product to be fabricated. The end of the line, as I type this in the early afternoon on September 29, is about 7 weeks delay. By the time this is published, the delay will almost certainly be longer.
For most sizes of silver ingots, US American Silver Eagles, and Canadian Silver Maple Leafs, you can still receive delivery within two weeks from the time you pay for it. But, I expect these delivery times to quickly extend further into the future. Even if you can still purchase ingots at the same dollars and cents premium above spot price than two weeks ago, the lower silver spot price means that the percentage premium has risen. A $1.00 per ounce premium at $40.00 spot is only 2.5% whereas it would be a 3.3% premium at $30.00 silver spot.
US 90% Silver Coin, a physical silver product that has not been in production since 1964, is no longer available on the wholesale market at prices below the intrinsic value of the silver. In fact, it seems like the premium is trickling up literally almost every hour right now. I expect that the premium will continue to rise. For now, supplies are plentiful, but that could change within days... read more