16% of the US’s silver production has just been vaporized in a landslide. See Story below.
In theory silver should be going up but Bernanke and Feds are the Wall Street manipulators are whacking it and gold hard and fast right now. The crimes against humanity of these people like Bernanke must be brought to book. They are a disease on decent humans, we need the antibiotic to disinfect the financial toilet seat. ASAP!
They have plotted to steal investors life’s savings for the greater glory of their mission and the enrichment of the Empire of the Snake, and none of the politicians can protect the people and restore their wealth. It says in the ancient legend a force will come and set the people free.
Strangely the force seems to be here but it’s very secretive and mysterious. If you own gold or silver it’s best not to sell, this is a con to get you to dump at low prices, but once these lizard-people finish whacking it, they will start buying it again. You can trust their greed it has to follow the down-up path. Max Keiser, the world’s most watched financial commentator said recently “There is a fury against the global banking fraud that is building every day.” It will be interesting to see how that fury manifests. Stuart Wilde www.stuartwilde.com
PS Our gold people http://gold.celticgold.eu/ said this morning the market is crazy right now there are 50 buyers for every seller. SW
5 million ounces of annual silver supply and 500,000 ounces of annual gold supply have just been vaporized landslided.
Rio Tinto’s Kennecott mine in Utah- the US’ 2nd largest silver mine and world’s largest copper mine has just suffered a massive landslide which will likely shut down production at the mine for years as upwards of 1 billion tons of dirt and ore have collapsed into the basin.
16% of US annual silver production just vanished. Good thing there aren’t any physical supply issues in silver currently or anything…
According to Rio Tinto’s VP of Marketing Vania Grandi, Kennecott produces up to 5 million ounces of silver, and 1/2 million ounces of gold annually:
“We produce about 3 (million) to 5 million ounces of silver a year and 300,000 to 500,000 ounces of gold,” said Vania Grandi, vice president of marketing for the Precious Metals Copper Group at Rio Tinto — parent company of Kennecott Utah Copper Corp.
The total US mine output for silver in 2012 was 1,050 tons for 2012 or 30.6 million ounces, and US gold production was 230 tons, meaning Rio Tinto’s Kennecott accounted for upwards of 16% of total US silver supply, and 5% of US gold supply!!!
The loss of 5 million ounces in domestic silver supply will have a DIRECT AFFECT on the Sunshine mint’s ability to source silver for blanks- which are used in the production of American Silver Eagles, which are already being rationed (allocated) due to physical supply constraints.
Look for premiums on ASE’s to go super-nova as the implications of the Kennecott landslide work their way down-stream!