January 31st, 2013

Rush To Safety: Americans Buy Nearly Half A Billion Dollars Of Gold And Silver In January


gold-silver1

This article was written by Mac Slavo and originally published at SHTFplan.com

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point of interest is a recent report from the Federal Reserve that indicates some $114 billion dollars in cash was withdrawn from the nation’s largest banks in the last thirty days.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.

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.




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5 Responses to “Rush To Safety: Americans Buy Nearly Half A Billion Dollars Of Gold And Silver In January”

  1. 1
    GeorgeW. Says:

    Defending the World, Bankrupting Ourselves Steve Chapman | December 6, 2012 After decades of American protection, our friends can form their own alliances to confront any adversary.

    http://reason.com/archives/2012/12/06/defending-the-world-bankrupting-ourselve

    U.S. has military personnel in 130 nations and 900 overseas bases: Republican presidential candidate Rep. Ron Paul, R-Texas, gestures during a Republican presidential debate on Sept. 12, 2011, in Tampa.

    http://www.politifact.com/truth-o-meter/statements/2011/sep/14/ron-paul/ron-paul-says-us-has-military-personnel-130-nation/

  2. 2
    Russ Says:

    If in fact the banks all crash and i thinks its a matter of time.If it did next week on any given day,There would be no payroll,SSI,Disability,Armed forces,checks,And many more downd systems.Food supplies would be gone in hours across this country, Riots,shootings,total food, housing ,transpertation,and water shortages. My point on the gold,and all the other hype metals is that if you do not have shelter,water,heat,food,ect. You can come to me, who has a vast amount of most of that above, with all the silver,gold,t.v’s you want,and you wouldent get to nice cans of food for what you have in gold,gold wont keep you warm and fed and it wont keep me warm and fed. Do you kinda see where you greed for that stuff is what got us to where we are today! I don’t want it. Good luck on your journey, Russ

  3. 3
    John Says:

    Russ, you fail to realize that gold and silver are not just items to be used for barter during SHTF times. Let’s try this.. Take a 100 dollar bill and place it in your drawer. Now, take 100 dollars in gold or silver and place it in your drawer. In 10 years, remove your 100 dollar bill and your gold or silver and ask yourself, “Which held it’s value, lost value or increased value?”.. I guarantee you that the 100 dollar bill won’t buy as much as it did when you placed it in the drawer. It has actually LOST it’s value or its buying power. THAT’S CALLED INFLATION AND IT’S COMING SOON IN A BIG WAY. It is almost a given that not only will the gold and silver that you tucked away KEPT its value but it has INCREASED its value and will enable you to buy just as much or more with it than when you first bought it. THIS IS WHY YOU BUY PRECIOUS METALS AND DON’T KEEP YOUR MONEY IN CASH.

    When the SHTF, initially all hell will break loose. Half the population will probably be killed. But for some, having gold and silver will be far better than having paper money. Paper money will be worth NOTHING. Gold and silver will ALWAYS be worth SOMETHING.

    Of course you need food, water.. That is a given. But more than anything you’ll need firearms and ammo. Some people link .22 LR ammo will become the new currency.. Who knows? Maybe 9mm or .223?? No one knows.. But one thing is for sure, investing in gold and silver NOW is a lot smarter than keeping cash in the bank. That could disappear overnight when the banks crash! Gold and silver will always be worth SOMETHING, but paper money WON’T!!!!

  4. 4
    Brandon Says:

    @Russ

    That’s a common argument against precious metals, and it is not historically accurate. In any economic collapse there is still ALWAYS a need for a common currency, at the very beginning of the crisis, and after the crisis subsides. During Argentina’s collapse, gold and silver were highly sought after exactly because the standard currency had died.

    Having essentials like beans and bullets is of course important, but never discount metals. They have been around through 5000 years of cultural disaster, and they will be around for 5000 more.

  5. 5
    Deborah Says:

    Where do you buy solid gold or silver bars where you could anytime later be able to sell it for what you paid for it or more? I understand when you have gold jewelry maybe any gold we can’t go directly to the top to get its full worth due to not having license, only a shop that offers you very little for it then they sell it up one more line or two to get to the top. Many middle men in between for full pay out to them not the original owner. It was much cheaper a few years ago.

    [Editor's note: You may wish to look up any reliable coin dealer in the nearest town or city. You can usually buy bullion "rounds" from such dealers at spot-price plus their reasonable commission. You also can buy silver and gold bullion "rounds" at the U.S. Treasury when they are available. Do not buy jewelry. But one ounce, half-ounce, or smaller "rounds" which will be marked ".999 fine silver" or ".999" gold, at coin dealers shops. Jewelry has a retail markup, is generally made of alloyed "karat" gold or .925 sterling silver, and cannot usually be resold to anyone for what one paid the jewelry store for it. Buy "rounds" marked .999. And btw, NEVER buy silver or gold "on paper". You want to take the precious metal in your hand when you give the dealer your cash.]

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