d'un lecteur midas
Dear Mr. Murphy!
As operator of the German language gold-website www.hartgeld.com
I get a fairly accurate picture of the market situation in Europe, especially in the German speaking area:
1. There is almost no silver available. US silver eagles and CAN silver maples are in extremely short supply. Sometimes it is possible to get 1oz Austrian silver philharmonics in low to medium quantities. Plus a few exotics.
2. Nobody sells any silver at Hank's virtual, artificial spot price of $10.50 - even if they have it
3. Just got a message from a reader in Germany about real market prices for silver ounces:
The largest dealer in Germany buys them for 9.89 euros, sells them for 14.81, Hank's spot price is 7.5 euros. This means, this dealer pays a 31% surplus when buying, but demands a 97% surplus when selling!
4. With gold the situation is "better", but the surcharge over Hank's "Spot Price" is also about 50 euros (approx. $80)
5. Some people still buy massively, although demand has slacked compared to a few weeks ago. On the other hand, supply is decreasing more rapidly
6. Very important: there is almost no gold/silver coming to the market from investors, they still sit tight on their metal. Of course, there is lot of metal coming the market from people who need the money (Trichet's confetti). Life became very expensive within the last year. Buying up old gold and silver is now big business in Europe.
7. Yesterday I had an interesting talk with a coin dealer in Switzerland. He told me he gets many coin collections out of inheritances. Younger people have absolute no relationship to gold and silver. They also have no idea of its value. Anyway, this metal either directly or indirectly (melted first) ends up in investors vaults - like in a black hole (nothing escapes)
Why did I call the price which is displayed in Kitco's easy to integrate chart "Hank's Spot Price". Because in comes out of Hank Paulsons "virtual price factory", also called PPT or Gold Cartel. In the meantime it has lost any relationship to reality.
When this manipulation scheme fails, the reversal will be spectacular. Just look at when Lehman or WaMu (85% failure probability) go bankrupt. I hope everyone has loaded up on gold/silver/shares at these low prices.
best Regards from Vienna, Austria,
Walter K. Eichelburg
When the reversal comes, you need new rockets. I have some for you. They are essentially yours, but with the launch tower removed (they look better this way). I also added a third rocket - the "rates rocket", to be used when interest rates explode as a result of gold taking off.