Silver Shortages Accelerate As Wholesale Supplies Plunge

[TedWeir]

Is the Kriger/Keiser "Short Squeeze JPM to Oblivion (http://www.zerohedge.com/article/max-keiser-buy-silver-coin-destroy-jp-morgan)" plan working? Judging by the wholesale availability of silver (or lack thereof) the answer is a resound yes. In Coin Updates News (http://news.coinupdate.com/widespread-silver-bar-shortages-0542/)we read that "as of today, there are no longer any regular wholesale supplies of the 1 ounce through 100 ounce silver rounds and bars available for immediate delivery. It may be possible to locate incidental quantities of some product, but most wholesalers are now promising two to four weeks delivery to allow time for the silver to be fabricated." Over the weekend we noted (http://www.zerohedge.com/article/us-mint-reports-soaring-november-month-date-silver-coin-sales-surpass-2010-high-following-ma)that even at the smaller, retail level, Silver American Eagles sold by the US Mint, have surged to a 2010 high in just the first three weeks of November. Is America now fully intent on ending Jamie Dimon's domination over the precious metal space?


More on the wholesale silver shortage (http://news.coinupdate.com/widespread-silver-bar-shortages-0542/):

As a result of the shortages, premiums have started to rise. So far, the increases have been modest, on the order of 0.5-2%. However, if the shortage grows, expect to see further and larger premium increases in the coming weeks. We could see a repeat of the late 2008 gold and silver buying frenzy, where product availability got as slow as 1-4 months after payment.

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http://www.zerohedge.com/article/silver-shortages-accelerate-wholesale-supplies-plunge-kriegerkesier-1-jp-morgan-0