Andrew Hoffman: There Will Be No Silver & Gold Left and It will Be Too Late!

by Rory, The Daily Coin As the economy continues to falter, we see more and more people awakening to the reality of the criminal banking cabal that has completely destroyed everything that it has touched. Global economies and financial systems are now in turmoil; unemployment, around the world, is swelling to unimaginable new heights. The Western world is in serious trouble and there appears to be no way out and no turning back. If you haven’t already began a program of preparedness, it is not too late. You need to get started as soon as humanly possible, as this teetering top could flop over on it’s side any time. Please don’t take my word for it dig in, read up and turn off your tee-vee. You’re welcome to start here, at The Daily Coin or you can visit ZeroHedge, Dollar Collapse, David Stockman’s Contra Corner and a plethora of other top notch websites that cover the economy from a realistic perspective. Earlier today Andrew Hoffman of Miles Franklin sat down with me to get caught up how all this is impacting the gold and silver acquisitions going on around the world. As many of you know silver is, currently, being drained from the retail shelf and is creating delays in shipments as products are no longer available, premiums are through the roof and people are scrambling all over the world to acquire whatever remains. Andrew explained the 100oz bars are still available, but they are beginning to evaporate at an ever increasing pace. Where does silver come from? Mines. What’s happening with the silver mines? They are all closing because there is no capital to keep them in operation. After four long years of suppressed exchange rates for silver and gold, the mining operators can no longer function. Mining is an extremely capital (read cash) intensive business and since silver and gold have been trading at lows that are BELOW mining costs, these companies can only lose funding for so long. Some of the largest gold and silver mines in the world are beginning to show strain due to capital inflows being completely drained. Planning ahead is always a good idea, as life happens when you least expect it. The thing is, life is happening right now and most people are so drunk from reality tee-vee and football they can’t see what is happening right in front of them. Sure, they can explain every detail of Bruce Jenner’s surgery and how this wide-receiver or that running back has stats that are off the chart. However, when it comes to managing their own life and understanding their money, currency and financial situation they would rather not be bothered. “My financial advisor handles all that.” Good luck with that outlook. My guess is most financial advisors have the same problem as most of our society–too much “reality tee-vee” and too little reality. As we, at The Daily Coin, have been saying for several months now, if you don’t hold it, you don’t own it and if you don’t hold now you may never get the opportunity again. Silver is being drained from the system at a pace that makes it hard to keep up. Gold is beginning to move out the door as well. When there is no mine supply and the current supply of retail silver is gone, where is the next medallion, bar or coin going to come from? If you have no raw material, you can not produce a product. We will find out soon enough, by years end, if the miners are going to be able to see their way through 2016. My guess is, most will not. I am not talking about junior miners, I am talking about Barrick, GlenCore and the other large scale mining operations that have depleted all their high-grade ore and are now digging deeper and deeper to produce less and less. That does not add up when you have ever expanding demand on a global scale. Not sure how all of this is going to end or when the next leg down begins, I just know this: if you are not prepared now, you had better get started.

 

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