Shattered! – Silver, Gold – Precious Metals Supply Chain Disrupted for 2-3 Weeks / Longer
Shattered! – Silver, Gold – Precious Metals Supply Chain Disrupted for 2-3 Weeks / Longer by Rory for The Daily Coin
Once again there was a major announcement concerning our monetary system on a Sunday. It was President Nixon who, on Sunday August 15, 1971, made the announcement to completely disrupt and change “temporarily” the global monetary system. On Sunday March 15, 2020, Federal Reserve Chairman Jerome Powell who, along side President Trump, announced another massive change to the global monetary system.
With the global economy reeling from the spread of the Wuhan Chinese coronavirus President Trump, who had been asking the Federal Reserve for the past several months to lower the Fed Fund Interest Rate, finally was able to strong-arm the Federal Reserve who pushed the Fed Fund rate to 0.00 – 0.25% all the way down from 1.25 – 1.50%. This, in essence, makes the interest rate the too big to jail banks “borrow” money from the Federal Reserve zero. These too big to jail banks then loan the currency to you and I at 3,4,5% or higher. This is how the banks are stealing all the wealth from the citizens of this country.
This is merely one aspect of what has recently happened to the global economy and the global monetary system. The Wuhan Chinese coronavirus has spread to 4 continents and is now spreading through most all nations on earth. This pandemic is creating lockdowns, quarantines and disrupting economic activity in every community it touches. To say this is creating disruptions on a global scale would be a massive understatement.
The precious metals markets have been directly impacted by all the disruption going on around the world. Transportation, mining, refineries and the retail precious metals markets and precious metals exchange platforms have all been impacted. The price setting mechanism in New York and London have been impacted as well.
This is the chart James mentions during conversation:
O M G,
to mine eyes,
this latest #Silver price takedown
another west derivative smokescreen
If plan to take phys delivery from
the CRIMEX do so, heavily & quickhttps://t.co/6BTjTmhiak
1970 – 2020
Silver Price Aggregated
Spot – $12.90
ChIndia – $105.55
Western morons – 24¢ pic.twitter.com/kg3arclYv5
— James Henry Anderson (@jameshenryand) March 24, 2020
I sat down with James Anderson, Director of Content, for SDBullion to discuss the impact he is seeing at SDBullion and the impact of all the major mints being shut down, 3 of the largest gold refineries being shut down for a minimum of 2 weeks and the impact of a massive surge in people acquiring precious metals at unprecedented volumes as a safe haven from all the economic and financial turmoil. It’s a lot to take in and we do our best to keep the conversation light while providing you with the information you need to make the proper decisions for you and your family.