The Canaries in the Gold Mine are Dying

from Grams Gold Gold prices have been artificially held down for the past few years by the banking cartel, desperate to keep confidence in the false stock market and the debt-based Ponzi-fiat-money scheme. Yet mining companies are starting to go out of business, as it cost more to mine an ounce of gold, than what is the selling price per ounce. And keep prices down, they have. But demand is way up. How long can they defy the forces of economics? How long can demand for precious metals be high, the supply low, and prices low? What happens when there is no supply to meet that demand?

When the market turns, if you’re not already in the market, you’re not getting in. I can see the gold market moving $200-$300 in a day. There is no supply to meet that demand and the price would have to skyrocket.

Peter Schiff makes the case as to why you should buy precious metals now, before the market turns. In a radio interview with Goldseek, Schiff says: “Jim Rickards is calling for $3,000 gold and $100 silver. The conditions could shift overnight, so abrupt, that many people miss the opportunity altogether. Schiff: I would agree that when the market turns, if you’re not already in the market, you’re not getting in. I can see the gold market moving $200-$300 in a day. I think this happens when enough people realize the Fed is not confident in the recovery and that it is actually contemplating more quantitative easing, we could get a scramble back into gold. There is no supply to meet that demand and the price would have to skyrocket.” Interviewer: Martin Armstrong is reporting a major dislocation in gold. According to some of his sources, any major buyer…in the precious metals market is finding delivery virtually impossible for anything less than $600 over spot. And the only place they can find sellers is in Asia. Schiff: “We’re not experiencing that right now on the retail level because we don’t have clients that are buying it by the ton, but by the ounce. But if you have major players that are looking to move significant amounts of fiat into gold, and they are having a problem with physical, that really shows you how tight the supply is.” Continue Reading>>>

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