blog.milesfranklin.com
nd by record high demand, just yesterday the Royal Canadian Mint reported its first quarter Silver Maple Leaf sales of 10.6 million ounces were not only 27% above last years’ first quarter levels (kicking off a year that resulted in all-time high sales), but one million ounces above the RCM’s highest-ever quarter; i.e., last year’s third quarter, when the North American bullion industry experienced a massive silver shortage (Miles Franklin had its busiest-ever three-month period, principally due to silver demand). And that, in an environment void of the type of crisis that catalyzed the historic shortage of 2008 – when the industry ran out of product for two months, and physical premiums surged to 100%. Or heck, the April 2011 shortage, when silver reached $50/oz; or even the May 2013 shortage, following April’s “ Alternative Currencies Destruction” paper raid. As for the rest of the world, look no further than the world’s largest silver importer, India, which experienced record imports in 2015 despite the continued imposition of 10% import tariffs by its soon-to-be-overun, fiat-currency-loving government. Or, for that matter, the world’s largest retail bullion market, the United States |
