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BREAKING and STUNNING: US MINT to RAISE price 1oz SILVER EAGLE to $67/oz in FIVE DAYS: on October 13th!
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[quote:Anonymous Coward 79206091:MV80NTQ1OTgxXzgyODQyMjMwXzRFQ0MyMzY1] Another interesting reality: If I'm not mistaking, it was only a month or so back that ANOTHER (EITHER THE SECOND OR THIRD NOW) MAJOR INSTITUTION has announced... THAT THEY ARE GOING TO (RE-ALLOCATE) SOME OF THEIR PENSION ASSETS INTO GOLD AND/OR SILVER: THE POLICE AND FIRE PENSION FUND OF OHIO, as I recall the news. I believe they said 5% of their assets into Au! Wow. Do you know how much gold (I don't recall if they will do any silver) that is?...5% of about $16 Billion? It's in the order of $700/800,000,000 (7 or 8 hundred million dollars). That I believe is around 4,000 Au contracts! (That can chew up most of the open Interest on Comex; depending upon the timing). But again...how they do it; how they acquire it...we'll have to see. But what happens when other players (institutions) get involved? [/quote]
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NO PROBLEM...HOLD BACK PHYSICAL, AS THERE'S A GROWING SHORTAGE AND DEMAND, FOR PHYSICAL (EVEN AS THERE WERE RECORD PHYSICAL DELIVERIES OVER THE SUMMER ON COMEX; irrespective of the controlled price via computers) - BLAME Ag delivery delays ON (fill in the blank), ALLOW THEM TO THEN COME BACK OUT AND RAISE THE PRICE, WAY UP (vs. COMEX SPOT)...EVEN AS THE ELECTRONIC PRICE IN CHICAGO STAYS AT...WHAT? $23 AND CHANGE?
WOW!
NICE JOB!
Reminds me a little bit of 1933 and the "move" on Au...as they added to their reserves, then post (ex. order), raised the price. (just my opinion though of course.)
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