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LBMA acknowledges “Buying Frenzy” in Silver Market and silver shortage Fears

  • Date 13 Apr 2021 23:22

London Bullion Market Association (LBMA) has just published a new report titled “Silver Investment 2021: Report” which looks at recent developments in the investment silver sector.

While it’s not clear who actually wrote the report, as no author is specified, the LBMA states that it “acknowledges Metals Focus’ contribution to this report” so we can assume Metals Focus actually wrote it or was heavily involved. Metals Focus is a precious metals consultancy based in London, which also at times, writes the Silver Institute’s annual World Silver Survey.

That the LBMA has decided to publish a specific report on investment silver at this time is notable in itself (as it hasn’t published this type of distinct report in the past), but beyond this, the report itself is worth reviewing for what it says, as much as what it leaves out.

Pitched as a “Spotlight on Silver Investment, a report which explores the key developments in silver investment over the last 12-18 months”, the LBMA report (which is quite short at 15 pages) focuses on recent trends in demand for silver Exchange-Traded Products (ETPs), silver coins and bars, and the in silver futures market. It also surprisingly mentions the #Silver Squeeze in great detail, which is refers to the “much-publicised social media campaigns” and a “social media buying frenzy” of silver bars and coins, and silver ETPs.

The report begins by commenting that “the past 12-18 months have witnessed some incredible developments in the silver investment market, including a dramatic improvement in investor activity”, and that the combined demand from silver bars, coins, ETPs and futures positioning rose by about 20% in 2020, with the growth in this trend carrying over into the first quarter of 2021.

Exchange Traded Products (ETPs) / Exchange Traded Funds (ETFs)

In chapter 2 on silver ETPs (more commonly called ETFs), the LBMA report notes that silver ETF holdings reached a record high on 1.2 billion ozs in early February 2021, and that London is the world’s largest storage centre for ETF silver, calculating that 725 million ozs is held on behalf of silver ETF’s such as the iShares Silver Trust (SLV) by LBMA custodians in London (the custodians being JP Morgan and HSBC and their sub-custodians Brinks, Malca-Amit and Loomis).

Surprisingly, the LBMA report acknowledges that strong inflows into silver-backed ETFs in late January and early February, if they had persisted, could have led to the LBMA London vaults running out of acceptable (good delivery) silver bars for the ETFs. The LBMA report states that:

“Early 2021 saw an unprecedented 110Moz added in just three days. Although some liquidations emerged, there were concerns that London would run out of silver if ETP demand remained at a high level.


“this year, the location of the custodial vaults has come into sharper focus as ETP demand has jumped, leading to concerns about the potential availability of metal.

This is something I had highlighted in a BullionStar article on 8 February titled “Houston, we have a Problem”: 85% of Silver in London already held by ETFs” which concluded that:

“A few more days of inflows like the ones seen over 29 January to 2 February would be a major emergency for these ETF providers, particularly the iShares SLV. Because there is just not that much physical silver left in the vaults of JP Morgan, Brinks, Malca-Amit, Loomis and HSBC, which is not already reported as being in these ETFs.”

Back to the LBMA report, which continues:

As the social media frenzy gathered pace in late January, demand for coins, bars and ETPs all jumped. For the latter, global holdings surged by 119 mn ozs in just three days. This was concentrated in the iShares fund (SLV), where holdings rose by 110 mn ozs. Given that most of this metal was allocated in London, fears emerged as to whether there was enough silver should demand continue at this pace.

What the LBMA report fails to mention though is that this extra silver (3,416.11 tonnes in the form of 113,501 Good Delivery silver bars) could only be added to SLV over those 3 days by SLV’s custodian JP Morgan frantically tapping into silver bars which it claimed to have secured in 5 vaults all over London, namely Brinks vault in Premier Park London, Loomis London vault near Heathrow, Brinks Unit 7 vault Radius Park near Heathrow, Malca Amit London vault, and JP Morgan’s own London vault.

More importantly, the LBMA / Metals Focus report also fails to mention that concerns about a lack of silver in London were so great that the iShares Silver Trust (SLV) actually changed its prospectus in early February, adding the wording that:

The demand for silver may temporarily exceed available supply that is acceptable for delivery to the Trust, which may adversely affect an investment in the Shares.

 It is possible that Authorized Participants may be unable to acquire sufficient silver that is acceptable for delivery to the Trust 

Luckily, I did mention the SLV prospectus amendment it in an article titled “#SilverSqueeze hits London as SLV warns of Limited Available Silver Supply” from 14 February.

The LBMA / Metals Focus report goes on to say that:

“had demand in iShares continued at the frenetic rate of late-January/early February it would only have been a matter of weeks before London’s existing stock was used up.

While it would have been surprising to see ETP demand maintain this pace of buying, the concerns were still very real.

This reflects both the time required for a refinery to convert non-Good Delivery (GDL) material into 1,000oz bars approved by LBMA as Good Delivery and then delivery of this by sea freight into London.

If the above sounds like too much honesty from the bullion bank LBMA, you are not alone in thinking so. Perhaps no one from the LBMA read the Metals Focus draft of the report before they hit publish. Its a far cry from the bullion bank apologists of the silver market, for example see here and here. who said that there was no shortage of silver in the London market.

Spoken for – Silver Good Delivery bars destined for the London vaults

Its also interesting to see from the above quote, that silver, since it is bulky, is not transported by air but by container truck when moving within a Continent such as Europe, and by sea, when moving between continents or to an island nation such as Britain. Silver enters London via container ports located in  the terminal ports to the east of London.

 A section of the LBMA report also looks at identifiable global above ground silver stocks, commenting that “the recent jump in ETP demand has led to fears as to whether there are sufficient above-ground bullion stocks, should ETP holdings see a further sharp increase”

But, are there sufficient above-ground bullion stocks, that could be called upon by the ETFs?

LBMA / Metals Focus more or less say no, stating that:

  • “there is a gulf between the total of silver above-ground stocks and the portion which can be quickly allocated against ETPs.”
  • “Even though above-ground stocks are difficult to pin down, there is no doubt that bullion stocks account for a small share of the total.”
  • The biggest identifiable silver holdings are held in London, COMEX [New York] and Chinese approved vaults, which at the end of 2020, stood at a combined 1.694 bn ozs of silver.

It’s interesting that the point about the 1000 oz silver bar market being far smaller than the above ground stock of silver is a point which exactly concurs with what was described by David Morgan in an interview which he recently did for BullionStar Perspectives. See relevant section of that interview video here.

But how much of these identifiable silver holdings in London, COMEX [New York] and Chinese vaults are actually available to ETFs? The LBMA report would have you believe that the answer is ‘a lot’. But is this really the case?

Regarding identifiable silver holdings held in London, the LBMA has just published its latest London vault holdings data, claiming that at the end of March there were 1.249 bn ozs (38,859 tonnes) of silver held in the London LBMA vaults. This data is then referenced in the new LBMA / Metals Focus report.

Putting aside the fact that this was a massive 11% increase on the amount of silver that the LBMA claimed was stored in the London vaults as of the end of February, and that none of these claims are verifiable and none of the claimed silver is independently physically audited in real time, Metals Focus calculates that 725 mn ozs (or 58%) of this London silver was held by ETFs at that time.

The LBMA report says that this ETF silver in London is held by “ten ETP funds”. Its unclear how LBMA / Metals Focus arrived at the figure of 10 ETFs, since there are actually 14 of these ETFs. See here for details. These ETFs are iShares SLV and SSLN, Wisdomtree PHAG and PHPP, Invesco SSLV, Aberdeen Standard SIVR and GLTR, ETF Securities‘ PMAG and PMPM, and five Deutsche Bank XTrackers ETFs. Perhaps they are counting all the XTrackers as one.

Out to lunch? – The LBMA, Royal Exchange, City of London

LBMA / Metals Focus also fail to account for the silver held in London LBMA vaults by GoldMoney and Bullion Vault, which together store about 690 tonnes in total. This silver is not available to ETFs. Nor is the allocated silver holdings held in LBMA London vaults by investment institutions, family offices and High Net Worth individuals. And finally, the elephant in the room, the LBMA report does not acknowledge the massive outstanding unallocated silver positions which are claims against the bullion banks for silver which they have not got but would have to try to allocate from stocks of silver that are in the LBMA London vaults, if unallocated silver holders requested allocation.

Regarding the COMEX approved silver inventories in New York (combined registered and eligible categories), the LBMA report says that there was a total of 393 mn ozs of silver in those vaults at the end of February, but concedes that of this total, over a quarter represents silver bars held by the SLV in JP Morgan’s vault in New York. This is something I first explained in the “Houston, we have a Problem” article in early February. See section ‘A Note about SLV and COMEX’ here.

LBMA also fails to mention that a lot of other eligible silver in the COMEX vaults in New York may have nothing to do with COMEX trading. The CME have already gone on record to explain to the CFTC regulator that in the case of ‘Eligible Gold" in COMEX vaults, this is the case. It is also the case with silver to some extent.

Regarding China, the LBMA report says that as of the end of 2020, the Shanghai Gold Exchange (SGE) held 130 mn ozs of silver bullion stocks, and the Shanghai Futures Exchange (SHFE) held 89 mn ozs. None of these SGE and SHFE silver stocks are related to ETP holdings, but they are stocks which are used in SGE and SHFE trading and can be quickly withdrawn into the Chinese silver market.

Excluding LBMA London, COMEX and China, the report says that “silver bullion stocks that exist elsewhere and are in a deliverable form (specifically LBMA or COMEX Good Delivery compliant) appear extremely modest.

These other locations would be, according to the LBMA report a) India, where some bonded warehouses hold good delivery silver bars, but these are for the local market, and rarely flow back to London, and b) Switzerland, which apart from silver allocated to Swiss silver ETFs, stores little other silver holdings.

LBMA / Metals Focus go on to suggest that it’s possible to add both the silver in the London LBMA vaults to all the silver held in COMEX, and view them as a combined pool of available silver for the ETFs. The report says:

“Another way to view this is to look at combined Comex/LBMA holdings, which at end-February were 1,518 mn ozs. ETPs vaulted in these locations stood at 880 mn ozs, which meant that 42%, or 638 mn ozs was in theory immediately available to meet new silver ETP demand.”

But this is wrong. Why? Because silver not currently in ETFs is not necessarily available to ETFs, and besides, ETFs which hold their silver in London cannot hold silver in New York (apart from SLV). Its against their prospectus rules.

This, however, doesn’t stop the LBMA report from sweeping the problem under the carpet by concluding that “the pool of available metal should be sufficient, for the foreseeable future at least, to meet new ETP demand.

Although in the next sentence they seem concerned about the potential lack of supply as they continue that “this also pre-supposes there is no repeat of the social media frenzy.” Note to LBMA – the social media frenzy is still on, and by being worried about it, it will now only get more frenzied.

There then follows a bizarre line in the report which says – “Should this occur [repeated frenzy], higher prices would almost certainly be triggered, which would be met by heavy selling.” We therefore have to ask, “heavy selling” from who? The bullion bank members of the LBMA no doubt?

Retail Market

Chapter 3 of the LBMA report discusses the retail silver market. Briefly, some highlights from Chapter 3 are as follows (quotes from the report are in italics):

  • Retail investment in silver (coins and bar demand) recovered in 2020 and into 2021
  • The [retail] sector then burst into life this year, initially as a social media buying frenzy emerged
  • The industry was quickly beset with product shortages, in part due to logistical restrictions
  • While social media discussions have abated, silver coin and bar demand has remained extremely strong, especially in the US
  • Ongoing strength in the US coin and bar market, which also reflects some supply issues, extended product delivery lead times and premiums

First some corrections to the above. Product shortages primarily arose due to huge demand, not logistical restrictions. And, if the LBMA / Metals Focus is not aware of it, ‘social media discussions have not abated.’ Far from it. Just look at Twitter and Reddit.

This doesn’t stop the report condescendingly referring to ”the recent, if short-lived, social media phenomenon surrounding silver that emerged in the US in late-January this year and what legacy, if any, it leaves behind.

  • Global retail investment in silver coins and bars in 2020 is estimated to have exceeded 200 mn ozs for the first time in four years. This was the result of higher demand in the US and Germany, while purchases in India weakened sharply.
  • Over the past decade, the US has been the largest retail investment market in all but two years (2018-19), when purchases fell sharply
  • During 2018-19, India occupied top spot, with retail investment in each year exceeding 50 mn ozs. ..In general, Indian demand has typically benefited from strong silver price expectations, with many viewing silver as being undervalued. This has often led to a surge in investment when prices have fallen.
  • In India, high net worth individuals tend to purchase large silver bars, such as 5kg, 15kg and 30kg bars. Others are consumers and investors who buy small-minted bars
  • Germany completes the top-three listing and has only emerged as a prominent market for silver bars and coins over the past two years.
Silver ‘frenzy’ from Silver Stackers

Social Media Storm

There then follows an entire section of the LBMA report titled ‘The Social Media Storm”, which begins:

“The events of late January/early February this year have almost become folklore in the silver market. It is worth recalling how this emerged and its impact on retail buying even after the social media storm faded.

For obvious reasons, the LBMA would like to have people believe that the #silverSqueeze has faded. If anyone wants to check on Twitter and Reddit, they will, however, see that this is not the case. The LBMA / Metals Focus then show their hand by dismissing the existence of a bullion bank short position in silver.

“Buoyed by this success, social media discussions soon focused on silver, and in particular longheld conspiracies that financial institutions were holding significant short positions.

Not content with hurling conspiracy theory accusations against anyone mentioning the Wall St silver short position, while trying to pretend the frenzy has faded, the LBMA report then doubles down, referring again to both in the same sentence:

“Although the silver price achieved a six-year high of $30.10, the social media frenzy quickly faded – dynamics in the silver market are quite different to those behind the GameStop trade. In essence, there were no massive short positions in silver to force out.

But then the social media frenzy was seemingly back:

“As the social media frenzy was picked up by the mainstream media, silver benefited from widespread news coverage, particularly in the US.”

“As dealer inventories were depleted the emphasis shifted to silver coin and bar manufacturers. Although many fabricators quickly ramped up production, three issues emerged –

a) lockdown restrictions affected how much the manufacturers could respond to the jump in demand, c) the increase in retail sales was so great that delivery lead times grew, ..added to concerns about a shortage of silver, which further boosted sales, c) US Mint gold and silver Eagle coin minting scaled back due to switch of production to new design.”

“As a result, February and March 2021 have seen retail silver investment demand remain exceptionally strong in the US.”

Finally, the LBMA / Metals Focus report also notes it does not see recent inflows into silver ETPs as competing with the demand for silver bars and silver coins, as the retail investors are new buyers with a different profile to physical silver stackers:

“[Silver] ETPs have attracted a large swathe of new buyers, including those active in the stock market who might not have previously bought precious metals. As a result, there appears to be little sign of an adverse impact on physical investment by the success of silver ETPs.


This new silver report published by the LBMA is indeed a strange report, discussing as it does the fact that if inflows into SLV and the other ETFs had continued , “it would only have been a matter of weeks before London’s existing [silver] stock was used up". And its a far cry from LBMA CEO Ruth Crowell on 8 February, telling NASDAQ that there were ‘healthy’ silver stocks in London.

Equally strange is the LBMA acknowledging the power of the social media buying frenzy in silver (cue memes of silver back Ape ‘frenzy’). Which would make a good story that the  report was written by Metals Focus, and published by the LBMA intern when the rest of the LBMA staff was out to lunch. Stranger things have happened.

On a serious note, it’s increasingly obvious that those few days in late January and early February when there were huge inflows into SLV and when the silver price hit $30, terrified the powers that be within the bullion banks and within the central banks that the silver market was about to explode. Which is why the silver price was not allowed to rise any further and which is why the CFTC and US Treasury was monitoring the action closely.

It should also give hope to the #SilverSqueeze movement that the LBMA thinks they have ‘faded’ and gone away. Because, as Sun Tzu once said on the art of war,  “Appear weak when you are strong, and strong when you are weak


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24 minutes ago, ladyGrace'sDaddy said:

This, however, doesn’t stop the LBMA report from sweeping the problem under the carpet by concluding that “the pool of available metal should be sufficient, for the foreseeable future at least, to meet new ETP demand.

Although in the next sentence they seem concerned about the potential lack of supply as they continue that “this also pre-supposes there is no repeat of the social media frenzy.” Note to LBMA – the social media frenzy is still on, and by being worried about it, it will now only get more frenzied.

There then follows a bizarre line in the report which says – “Should this occur [repeated frenzy], higher prices would almost certainly be triggered, which would be met by heavy selling.” We therefore have to ask, “heavy selling” from who? The bullion bank members of the LBMA no doubt


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This, however, doesn’t stop the LBMA report from sweeping the problem under the carpet by concluding that “the pool of available metal should be sufficient, for the foreseeable future at least, to meet new ETP demand.

Although in the next sentence they seem concerned about the potential lack of supply as


they continue that “this also pre-supposes there is no repeat of the social media frenzy.


Note to LBMA – the social media frenzy is still on, and by being worried about it, it will now only get more frenzied.

There then follows a bizarre line in the report which says


Should this occur [repeated frenzy], higher prices would almost certainly be triggered, 


which would be met by heavy selling.” We therefore have to ask, “heavy selling” from who? The bullion bank members of the LBMA no doubt.



As the news of what the LBMA has admitted to in this report spreads like WILDFIRE throughout the social media, we're going to see an EXPLOSION of request for actual metal on the Comex. 


The LBMA has admitted that just one more month of the Silver squeeze and the value of Silver will go much higher. Let me translate that for everyone,  One more month of the Silver squeeze and we're out of metals thus the price of Silver will SKYROCKET. 

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This MORON is an expert at talking out both sides of his head. "It is sustainable, it isn't sustainable". Does he even know what he's saying? It TERRIFIES me to think that we tolerate such fools with the greatest economy on earth. 



April 14, 2021 Updated: April 14, 2021

WASHINGTON—Federal Reserve Chair Jerome Powell on April 14 pushed back on warnings about a rising federal budget deficit and national debt due to an aggressive fiscal response to the pandemic and said the “current level of the debt is very sustainable.”

“There’s no question of our ability to service and issue that debt for the foreseeable future,” he said during a virtual interview hosted by the Economic Club of Washington, D.C.

He warned, however, that the national debt is growing “meaningfully faster” than the U.S. economy.

“That’s by definition, unsustainable over time. It’s a different thing to say that the current level of the debt is unsustainable. It’s not,” he said.

Federal debt held by the public reached 100 percent of gross domestic (GDP) product in the last fiscal year. And President Joe Biden’s $1.9 trillion coronavirus relief package signed into law last month increased the deficit and the national debt even further. The gross federal debt is on track to reach $30 trillion.

The Congressional Budget Office now projects the federal debt will be 107 percent of GDP by 2031, the highest level in U.S. history.

When the economy is strong, Powell said, the United States could focus on addressing the debt problem.

"We will have to eventually get back to a sustainable path. That is something that is best done in very good times when the economy is at full employment and when taxes are rolling in. This is not the time to prioritize that concern,” he said.

Economists, including Lawrence H. Summers, the former Treasury secretary under President Bill Clinton, have raised concerns about Biden’s aid package and warned that excessive government spending could overheat the economy and fuel inflation.

A New York Times article published on April 13 revealed that Biden administration officials are “wary of the inflation threat” while they publicly defy warnings about “a 1970s-style escalation in wages and prices that could cripple the economy".


The article stated that the officials “check on real-time measures of prices across the economy, multiple times a day.”

Prices have begun to rise at their fastest pace since 2012, according to Labor Department data on April 13. The consumer price index rose 0.6 percent in March, more than expected. Half of the increase was driven by a 9.1 percent jump in gasoline prices. Overall consumer prices were up 2.6 percent from a year ago, the fastest pace since August 2018.

This week’s inflation data, however, hasn’t altered Powell’s message. He said the unemployment rate could go low for a long time without inflation being a problem.

He added that the inflation in the United States has been running at low levels for decades and that’s mainly because of globalization, advancement of technology, demographics, and the aging population.

“Since the global financial crisis for the last decade, you’ve seen central banks around the world really struggle to reach a 2 percent [inflation] goal,” Powell said.

Some Republicans criticized Powell, Treasury Secretary Janet Yellen, and the White House for playing down the debt crisis and inflation threat.

Following the New York Times article, Sen. Rick Scott (R-Fla.) put out a statement, saying, “They are lying in public, while privately worrying about the issue.

“It’s a disgusting betrayal of the trust of the American people. When inflation rises, the prices of everyday goods go up,” he wrote on April 14. “It’s time for Biden to acknowledge this threat is real, understand that his reckless spending has consequences, and address the risk of runaway inflation now.”

According to The New York Times, the White House is planning to dispense the money for the proposed $2.3 trillion infrastructure package “gradually enough not to stoke further price increases right away.”

The Fed officials expect upward pressure on prices this year due to an increase in spending with the opening up of the economy.

The Fed’s recent inflation projection rose to 2.4 percent this year, up from 1.8 percent projected earlier. But officials expect inflation to return to 2 percent next year, indicating that inflationary pressures will be temporary.

“The structure of the economy is always changing,” Powell said. “The economy that we had back in college was one where low unemployment led to high inflation, inflation stayed high. It’s very different now.”

In an interview with Steve Bannon’s show War Room, former White House trade adviser Peter Navarro criticized comments made by Powell on CBS’s “60 Minutes” on April 11 about inflation and globalization. Navarro called Powell “the worst Fed chair in modern history.”

Navarro reacted to Powell’s comment that it’s hard for people in wealthy countries to raise prices and wages “when wages can move overseas.”

“The people who control this government—whether the Democrats or Republicans— think that whenever your wages go up, they’re going to ship your jobs offshore,” Navarro said.

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Yes, I watched Ole Jerome Sunday night and he did NOT give me a warm fuzzy!!! They talk about inflation being under control and low. :bs:. A sheet of OSB (glued together chip board for roofing) is over $37/4x8 ft sheet. YGTBSM!! 2x4x8 ft long over $7/board. Gas prices doubled. Food prices rising. And the Ho (who is suppose to be Ole Joke's point man on the border is f'ing knitting. Guess she can't fiddle!! And the Moronic Rats blame Climate Change. What the HELL???

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Got Wood?

An illustration of the wooden frame of a house in front of a lavender background. In front of the house is a red sign with four $ printed on it.

Francis Scialabba

Yesterday, lumber futures hit $1,260 per thousand board feet on the Chicago Mercantile Exchange. If that sounds like a lot, well, it is—an all-time high.

Lumber prices have soared during the pandemic. Last April, that same order would've cost just $358.

If you think this doesn't affect probably haven't been house hunting recently. Astronomical lumber prices have added $24,000 to the cost of a typical single-family home and $9,000 per apartment, according to the National Association of Home Builders.

What's going on?

1. The pandemic. At its outset, Covid forced many mills to temporarily close. When historically low mortgage rates met a summer wave of homebuying, renovations, and DIY-ing, producers were unprepared for the demand surge. 

Lumber prices kept rising during the winter months, so homebuilders and lumber yards delayed their purchases, hoping prices would come down. Now, with the busy spring/summer building season ahead, homebuilders and lumber yards are rushing to get coveted boards, driving prices even higher.

2. The plague. Not the human one. Since the 1990s, warmer winters have caused mountain beetles to spread further across British Columbia, infecting more forests. Their arboreal appetites have diminished harvests. 

  • Somewhat ironically, in Europe, a different beetle plague is also getting worse and forcing loggers to cut down infected trees before the wood becomes unusable. As the US looks for more supply, Europe has extra to export.

3. Labor. Mills could theoretically produce more...except some are facing labor shortages. While the job can include lots of Vitamin D and flannel, low pay and the difficult, sometimes dangerous work required has pinched manpower.

Bottom line: The number of homes for sale continues to sit near a record low. While that should be a dream for construction businesses, rising prices and tight inventories for lumber and other building materials have made it more expensive for builders and, in turn, created an affordability crisis for buyers. 

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The thing that should be noted in the above article is that not one time is the printing of Trillions of dollars even considered part of the equation. In my opinion this is because of two reasons. First, some people simply cannot fathom that the printing of Trillions of dollars as part of the problem because to do so will naturally flow to the inevitable conclusion of a collapsing economy. Something that has far more serious ramifications than just higher lumber prices.  

Second, Then there are the "True Believers" that actually believe in the direction that the  Democratic Party is taking the world and as such will not only ignore the dollar inflation but they will also believe the party line that, "we can control inflation". Something that has NEVER once been done in the history of Fiat currency.


I started this thread In hopes of helping others, like me, who don't have a 5 star Degree in Economics understand what is coming. However, there's a part of me that feels so very few people will even read this thread and try to understand. But when you consider the next thing I will show you, then hopefully you will begin to understand how close we all are to the complete destruction of our economical world. 


Consider this, what is the percentage of increase in the price of lumber over the last twelve months? 



Solution for 358 is what percent of 1250:

358:1250*100 =

( 358*100):1250 =

35800:1250 = 28.64

Now we have: 358 is what percent of 1250 = 28.64

So I ask you, in what world do we actually think that such a percentage increase will stop at the cost of lumber? I have posted Tweets showing the rising cost of many things over the last few years. How long before we all start seeing several hundred percent increase in the price of food? That is when it will hit everyone what has happened. I use the past tense because  by the time that most people wake up it will be too late. 


Americans today pay an average of 19.1 percent more on grocery items than they did 10 years ago. Over the same time, the inflation rate was just 16.3 percent.


That's 19.1 % increase over the last ten years. But I can tell you that my families grocery bill has gone up more than that in the last two yrs. Just two yrs ago I could buy all my families groceries and hygiene needs for around $110 a week. Today the same items will run me closer to $200 dollars a week. That's a Whopping 55% increase in just the last two years. 

And now I'm saying that we are about to see those types of increases month over month. 

Sounds crazy? Well just ask a Contractor if he would have believed  one yr ago that lumber would be up by over 28%?


I beg all who read this just buy 25 ounces of Silver, that's an investment of only $790 dollars at todays prices. But by the time that people realize what has happened that 25 ounces of Silver could be worth somewhere between $25,000 to $150,000. It could save your families life. 


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I'm telling you that you simply cannot make this stuff up. What will they try next to convince everyone to sell their Silver. :facepalm1:




Here's the clip of the video.




I can't overemphasize enough that the situation is far worse than anyone knows. The lengths that these Banksters are going to in their effort to dissuade Investment Silver Buyers is beyond telling. 

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