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Silver Stock Report "Silver prices are dropping like a rock, down to $12.50/oz., and yet, none of my trusted, major, regular dealers have any silver to sell..." (8/17/08)

ReportGold
TitleWhy Are Prices Crashing When No Silver Is Available?
Quote"Silver prices are dropping like a rock, down to $12.50/oz., and yet, none of my trusted, major, regular dealers have any silver to sell. Tulving is sold out of all forms of silver...

My guy in Rocklin is out. Amark is out. Mish in Menlo Park is out. Klaus in Denver is out. All those guys cannot find silver to buy from any other major dealer, and they are all very well connected in the industry.

APMEX.com is sold out of most forms of silver, but still has some Silver Maples left, I just ordered some this evening: http://www.apmex.com/Category/2/2008__Prior_Canadian_Silver_Maple_Leafs.aspx

CNI is out of 100 oz. bars and Eagles, but has other forms of silver...

For 5 months now, nobody has had 100 ounce silver bars in quantity, over 100 of them, available for immediate delivery. Well, that's not true, there have been reports here and there of one such lot, on occasion. A mere 10,000 oz. has popped up from time to time. Once at tulving, once at CNI. They are both out now.

But for the most part, for most of the last 5 months, if you wanted 100 oz. silver bars, the wait would be 8-10 weeks from Johnson Matthey or NWT Mint, the only two places that make them anymore.

During the last 5 months, Silver Eagles have been rationed by the U.S. Mint, who makes the excuse that they cannot find or source silver blanks fast enough, even though they are making twice as many this year than last year.

So, why are prices crashing when no silver is available?

Manipulation. Lies. Paper games. I've covered this many times before in the last few years." (8/17/08)