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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (34441)	11/7/2000 10:08:47 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

at the moment...it won't be in the future, especially with the govt. exchanging SS cash for IOU's. Ted Butler on the latest twist in the growing silver supply shortage: ted butler (@A Minor Event) ID#370209: Copyright © 2000 ted butler/Kitco Inc. All rights reserved Since we've talked about silver this AM, I thought I'd comment on something I haven't seen discussed. Sometime in the next six months ( or sooner ) , the US Government will finally run out of silver. Putting this into perspective, this will be the first time in half a century, that the USG won't be supplying silver to the market. In the last ten years, as its stockpile approached zero, the net amount of silver supplied was in the range of 10 million ounces a year, principally in the Eagle and commemorative coinage programs. Assuming steady to growing coinage demands going forward, that is an immediate 20 million ounce net impact on the silver supply/demand equation ( net supplier, to net consumer ) . It's like a having a giant silver mine shut down unexpectedly and permanently. In a broader perspective, the impact is much more dramatic. The USG's liquidation of its 3 billion ounce stockpile over the past 50 years, meant that the USG supplied an average of 60 million ounces a year, year in and year out, for 50 years. Now that can't happen again because it's all gone. And while the USG still has ample inventories of gold in an emergency, for the first time in a lifetime, it has no water to put out a silver fire. What will the Silver Users Association do now - now that it doesn't have taxpayer silver to steal? Maybe they can work on increasing the short position.