M3 Money through Oct. 10th is sitting at approximately $14 Trillion, and 16% year over year rate of increase. I have said this before, but if you have not figured it out yet, if money supply is expanding at 16% that means your investments MUST grow at more than 16% or you are going backwards.
On the gold shortage front, a recent letter from Bill Murphy over at GATA caught my attention:
Bill,
I talked to the chief broker in charge of the precious metals dept. of one of the largest metals banks in the Netherlands this morning. He told me that his bank had no gold in the vault for the first time in one hundred and forty seven years of its history! He had clients waiting in line for bullion coins of any type, and for the first time in his career, he had No supply! None, zero, zip, nada! I called a broker in West palm beach, fl. and he confirmed he also had no supply! He also said he had funds of two and one half million dollars in his acct. from one client, and could not find product to fill his order! Bewilderment is a term he used! He asked me how silver and gold could be so cheap in the markets when there is no supply! That discussion I will have with him another day!
Paul
This is simply mind blowing.
Just as an aside, it has become abundantly clear that this metal shortage at the retail level is being widely felt on a global scale.
I have had reports come in from Germany, Canada, USA, Aussieland, Singapore that metal is in high demand and short supply.
I have suspected for a time that it might be possible that the only way people would be able to buy gold in the future is through firms who hold institutional accounts at the refinery level at the core of the industry, otherwise they simply would not be able to get access.
Seems this may be coming true sooner rather than later.
Anglo Far-East is having zero sourcing problems for metal right now, but that might be because it also holds institutional accounts with the largest LBMA refineries in the world.
This of course could change, but right now things are looking pretty good.
For more info on buying gold and silver bullion through Anglo Far-East, you can request information here online, or email me at astanczyk ( @ ) anglofareast.com
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