A Scary Sign
Below is a link to an article that I believe everyone should read. I came across it in my tri daily checking of CNBC website. Most times I find nothing but junk on their site but on occasion they report a good story. The thing is though that this story will get very few hits and the people that do read it will not understand the severity of it.
http://www.cnbc.com/id/34153788
It is an article explaining that US mint is no longer minting the 1 ounce Gold Eagle coins do to a depleting supply of gold in the mint. This is alarming for a few reasons and reasons most people would not think of.
1) There has not been an official inventory done on the amount of gold held by the US mint for years. So how do we even know if we have any gold remaining in the mint. You read that the US has a huge reserve of gold but that was from years ago, how do we know if they do since they don’t do inventories any longer. It’s like me telling my banker I have 100 stock cows but he never comes to check on them.
2) That there is obviously a fear that paper money is worthless since people are loading up on physical gold.
3) That this country is printing worthless paper faster than a fresh divorced gal gets hit on in the Canton bar but is now unable to mint real money (Gold coins).
4) I believe this is only the start and they will stop minting silver coins in time as physical silver inventories become depleted.
Scary stuff!!! My advice is load up on as much physical gold and silver as you can. I have been buying junk silver coins on ebay for a little over a year and am finding it harder and harder to actually win an auction due to the demand for these items.
Happy Thanksgiving
Erik
