[Ed. Note: Hmm. Ignoring Europe, the middle east and Japan altogether, there’s more than a billion Chinese folks, and around 320 million Americans. Given that there’s only about 700 million ounces of physical silver mined every year, you can see the potential problem.]
from Silver Doctors:
With the recent claims from an Apple contractor that a Chinese silver shortage is the culprit for the production delay in the new I-Macs, an SD reader who has recently moved to China has given SilverDoctors a MUST READ first-hand account of the retail gold and silver mania underway in mainland China.
With the Chinese New Year less than a month away, Ichban describes Chinese demand for gold and silver in Beijing as a tidal wave, and states that the demand for gold and silver is more intense than Thanksgiving/ Black Friday mobs in the US, despite the nearly 60% premiums retail dealers are asking for silver bullion!!
Ichban gives readers a glimpse of what to expect when the mania stage of the gold and silver bull markets finally reaches the US, as he describes the scene at Chinese retail bullion stores:
Despite these high premiums, I have never seen such frenzied buying in my life! I am a young adult male and 40 year old Chinese women are shoving me out of the way because they are trying to buy some gold and silver!