Silver is very scarce in London

By Michael Pennington © Copyright 2010 Pennco Coins

We have many wonderful customers in more than 20 nations worldwide, but by far the largest number are in the UK. My sources there say that Silver is nearly impossible to find in London and if you can find it, many frustrated investors are paying premiums of 100% over spot. This is why our UK business is booming in spite of the stronger dollar. We now know that Silver is scarce in the UK because the LBME is nearly out of its stockpile of physical metal. The Silver ETF’s probably have nowhere near enough Silver to balance their books. They’re banking that not all customers will require their silver. The little silver that is available is being used to answer the strongest demand as each ounce of the shiny metal is used to cover 100 ozs not currently in demand. This Ponzi scheme will be revealed one day in the near future.


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This entry was posted in Buffalo, Bullion, Coin, Dollar, Eagle, Federal Reserve, Gold, Gold to Silver Ratio, Government, Investment, Maple, Mint, Palladium, Peso, Philharmonic, Platinum, Silver, Tax and tagged , , , , , , . Bookmark the permalink.

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