The Phaserl


The Spot Price of Precious Metals Is Becoming Irrelevant

from Peak Prosperity, via Zero Hedge:

In light of the recent violent down-and-up action in the precious metals, the Hard Assets Alliance (HAA) see three effects in the fallout. For starters, demand is off the charts: “We had four to five times as many buy orders and sell orders, both in number of trades and in volume. Far more significant buying than selling, and it’s continued throughout the week.” Second, the demand we’re seeing is from existing customers who are returning to buy in bigger volume as they see the precious metals as being “on sale” right now. Third, the surge in physical buying combined with tightening supply is resulting in the premium paid over spot price for physical bullion to march upwards quickly. For all of recent memory, the price of precious metals has been determined in the paper marketplace (e.g., COMEX; LBMA). That may now be changing. Should the availability of physical bullion start setting the price action, the spot price quoted in the paper market for gold or silver will become an anachronistic irrelevance.

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3 comments to The Spot Price of Precious Metals Is Becoming Irrelevant

  • Bob

    Picture this…how about when everyone gets involved like your uncles, nieces, brother and best friends, etc. People will go nuts when they hear “no offer” and they’re not able to participate. This will be a once in a lifetime event because like everything else this won’t disappear in an electronic blip. I know Sinclair talks about Gold, but Silver has to follow. I like what Bix says about Silver going into the thousands. I say 1500.00 an oz. Keep stacking!

    • NaySayer

      It is hard to know how high the metals will go when this whole illusionary economy comes crashing down, as it must. It is based on nothing but lies and smoke and enough people are smart and awake that we are trying to get out of it and into something real, something that has stood the test of time as money gold/silver/copper.

      It could be realistic to say $12,000 silver or $150,000 an oz silver. Why? Because in a hyperinflation an egg can be “worth” a billion fiat dollars. Prices in fiat become irrelevent in the end game and we are in the first stages of the endgame now. You can tell because the big king rats are leaving the sinking ship. Geither, Clinton, Now Bernanke & Dimon are talking about leaving.

      What I want to know is what will the real commodity money buy? Reports are that a single gold ounce would buy an apartment building in Weimar germany back int he 1920s. That gold ounce would get a family passage on a train & ship and out of europe so it was worth it to them.

      There has been massive price DEFLATION when real things like food & fuel are priced in real money. Gas had been going down down down in relation to silver until the recent vicious cartel manipulated smackdown. So if you have any real money (gold, silver, real 95% US copper pennies from before Oct. 1982 and even the current nickel which is 75% copper & 25% nickel) then you can expect to see prices of real things go down, way way down. Everybody else will be in the billion dollar egg situation.

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