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Rush To Safety: Americans Buy Nearly Half a Billion Dollars Of Gold and Silver In January
SHTF Plan ^ | 1-30-2013 | Mac Slavo

Posted on 01/30/2013 11:06:54 AM PST by blam

Rush To Safety: Americans Buy Nearly Half a Billion Dollars Of Gold and Silver In January

Mac Slavo
January 30th, 2013

While public officials may be ignoring the continued deterioration of our economy, job losses to the tune of hundreds of thousands of people weekly, and the unprecedented demand for government emergency support services like unemployment insurance and food assistance, Americans who sense uncertainty in the air are flocking to the safety of physical resources.

Our first point of interest is a recent report from the Federal Reserve that indicates some $114 billion dollars in cash was withdrawn from the nation’s largest banks in the last thirty days. Those holding their money at bailed out financial institutions are understandably concerned because the government’s $250,000 deposit insurance guarantee program, originally implemented to restore confidence in the wake of the 2008 financial crisis, expired at the end of 2012. That and the US fiscal situation has never been worse, with one Obama official recently having said the solution to the country’s woes is to simply kill the dollar.

This suggests investors and cash savers are no longer confident in the purported safety of the country’s “too-big-to-fail” institutions.

The next obvious question then is, “where did this money go?”

Part of the mystery may have been unraveled when the US Mint released its latest sales and inventory report.

According to the mint, investors purchased nearly half a billion dollars in gold and silver in the last 30 days. There was, in fact, so much money shifting into physical precious metals in January that the mint was actually forced to cease operations because they couldn’t meet demand.

A massive 7.4 million Silver Eagles were purchased from the U.S. Mint in January, considerably higher than the previous record from early 2011.

After halting Silver coin production/sales for over a week, the Mint re-opened yesterday and demand once again surged.

Having almost doubled from the first week in January, there remains two more days before the book is closed on January’s sales.

At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost three years, suggesting the rising ‘currency wars’ are stoking people’s ongoing rotation from paper-to-physical assets as their ‘wealth’ slowing loses its value.

With a Silver Eagle trading at around $31 per ounce and the gold spot price at near all time highs of $1650, the US Mint saw some $460 million dollars shift into precious metals in the month of January alone.

What’s equally as interesting, and perhaps a harbinger of the coming chaos, is that the People’s Republic of China is also shifting a large amount of its cash reserves into physical resource based investments that include agriculture, energy, and precious metals, a move that has caused confusion among experts at the United Nations.

With the political situation in this country rapidly dwindling because of government interference on all levels, a recession for 2013 already baked into the cake, and a global economy on the brink of collapse, there is one primary motivating factor driving money into gold and silver.

Uncertainty.

As we’ve seen recently with shortages in emergency food rations and supplies, firearms and magazines, and now gold and silver, Americans are no longer confident in the stability of the system as a whole, and they are diversifying their assets into physical resources that will retain value should the global financial, economic, monetary, and geo-political systems come unhinged.


TOPICS: News/Current Events
KEYWORDS: commodities; economy; gold; recession
I bought a few more 'junk' silver dimes a few days ago. I paid $2.30 each for them. (Insurance only...not investing for profit)
1 posted on 01/30/2013 11:07:02 AM PST by blam
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To: blam

‘.22 LR’ rounds are right up there with silver & gold, if you can find them.


2 posted on 01/30/2013 11:10:07 AM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: blam

How much copper, brass, lead and blue steel did they buy?


3 posted on 01/30/2013 11:12:15 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: DuncanWaring

Considering the waiting lists for guns and ammo, copper, brass, lead, blue steel, gold, and silver are the only parts of the economy that are not performing miserably. I hope the socialists are paying close attention. If they grab for absolute power, they will fail, but I would prefer to avoid a second civil war - if we can have genuine peace rather than surrender to totalitarianism.


4 posted on 01/30/2013 11:22:42 AM PST by Pollster1
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To: Obama_Is_Sabotaging_America
US Silver Coin Sales Hit An All-Time High In January


5 posted on 01/30/2013 11:24:27 AM PST by blam
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To: Pollster1

How come gold has hardly moved in six months? Plus silver has been mostly flat for year. If demand is so strong..why have the prices stagnated?


6 posted on 01/30/2013 11:25:40 AM PST by Oldexpat
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To: blam
Rush To Safety: Americans Buy Nearly Forty Million More Firearms and Two Billion Rounds of Ammo since November Election
7 posted on 01/30/2013 11:27:11 AM PST by pabianice (washington, dc ..)
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To: Oldexpat
How come gold has hardly moved in six months? Plus silver has been mostly flat for year. If demand is so strong..why have the prices stagnated?


10 year gold prices


10 year silver prices

I'd say that the risk of having a communist in our White House has already been fully factored into gold and silver prices. There was, as you say, no major increase in the past two years (in fact a slight drop), but the rise under Pelosi and the first couple years of Obama was dramatic. A significant fraction of my investments are now in durable forms appropriate to the economy that Obama is creating.

8 posted on 01/30/2013 11:38:42 AM PST by Pollster1
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To: blam
Americans are no longer confident in the stability of the system as a whole...

I suspect people are worried the government is lying about the amount of gold they actually have ... and that 'investment groups' after greasing the hands of Democrats - might be selling paper gold that doesn't exist. Who knows? It's possible...

9 posted on 01/30/2013 11:43:44 AM PST by GOPJ ( Revelation can be more perilous than Revolution. Vladimir Nabokov)
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To: Oldexpat

10 posted on 01/30/2013 11:47:57 AM PST by blam
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To: blam
Think back to a few hurricanes, say Sandy and Katrina.

Serious collapses of infrastructure and society. No food, no fuel, no electricity, no government services.

Was anybody whipping out the gold and silver to buy something that wasn't there?

No.

11 posted on 01/30/2013 1:24:45 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: blam

$2.30 is a pretty good price, BTW...

Current melt value is $2.3155.


12 posted on 01/30/2013 1:27:24 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Pollster1

Don’t have any gold... but I have a lot of dirt now.


13 posted on 01/30/2013 1:28:10 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Oldexpat

See the charts in post 8. Those are wedge formations that will break to the upside. Whatever the price is at the end of the wedge (e.g. 1650 for gold) will never be seen again, however it might take another year to break the wedge.


14 posted on 01/30/2013 1:42:48 PM PST by palmer (Obama = Carter + affirmative action)
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To: elkfersupper

The dollar did not collapse then. Once it is no longer the world currency, the dollar will be worth zip.


15 posted on 01/30/2013 3:36:16 PM PST by w4women (A claim for equality of material position can be met only by a government with totalitarian powers.)
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To: MrB
"$2.30 is a pretty good price, BTW..."

Yup. I know...he wanted $2.60 each...we bought all he had, about $2,000 worth, worked out to be $2.30 each. (It was at a flea market...he was a snowbird from Wisconsin))

16 posted on 01/30/2013 4:05:12 PM PST by blam
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To: w4women

Barter value only. Marginal and questionable intrinsic value. Not a medium of exchange


17 posted on 01/30/2013 4:29:28 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: MrB

Dirt is a good investment - to some extent, the more remote the better.


18 posted on 01/30/2013 6:11:17 PM PST by Pollster1
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To: blam; jiggyboy; PA Engineer; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Thanks Blam.

Goldbug Ping.


19 posted on 01/30/2013 6:34:57 PM PST by Jet Jaguar
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To: pabianice

Tulip bubble...... the word on the street is that ammo is worth more than gold


20 posted on 01/31/2013 4:43:41 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: Pollster1

Of equal and perhaps greater importance is the stabilization of the southern European economies and the €

The demand for gold is said to be greater in Asia then the west where jewelry sales are actually reverse flow. Jewelers are hanging on by buying rather than selling gold.


21 posted on 01/31/2013 4:49:11 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: w4women

Would you agree it is good to hold gold for asset protection - savings, 401k, etc.


22 posted on 02/02/2013 6:14:10 AM PST by w4women ("I believe the very heart and soul of conservatism is libertarianism" - Reagan)
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bookmark


23 posted on 02/06/2013 11:06:55 AM PST by RebelTex (Soli Deo Gloria, "To God alone the glory")
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bookmark2


24 posted on 02/06/2013 11:28:31 AM PST by RebelTex (Soli Deo Gloria, "To God alone the glory")
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