Submitted by SD Contributor SRSrocco:

The latest USGS monthly Silver Commodity Update IS AN ABSOLUTE SHOCKER.  If we take a look at the difference in silver exports from just June to July, we can see that a staggering 169 metric tonnes of silver was sent to the United Kingdom back in July.  This is a 5.4 million ounce transfer of silver to the U.K in just one month: [Read more...]

There was a massive silver withdrawal out of the Comex on Friday.  Over the past week, there has been a steady increase in the total amount of silver in the Comex warehouses.

However, in one huge withdrawal, 3.6 MILLION OUNCES, a whopping 17% of Brinks total REGISTERED silver inventory was removed on Friday.  I have not seen such a large withdrawal from the registered category for quite some time.

Furthermore, this single withdrawal from the Brinks registered category was nearly 10% of all the total registered silver in the Comex warehouses.

NEW IMPORTANT UDPATE BELOW:  added at 9:53 pm SATURDAY

[Read more...]

By SD Contributor SRSrocco:

THE US ENERGY POLICY IS COMPLETELY F.O.S.! – We are SERIOUSLY SCREWED!

The reason why I have been writing a great deal about energy is due to the fact that energy is money.  Gold and Silver are only a physical accounting of energy.  Without ample energy supplies, gold and silver cannot be mined commercially.

The U.S. energy policy promoting LNG because they believe we have 100 years of natural gas reserves is plain insanity.  Oil is even worse.
Break-even for the average well in the Bakken is probably $100 a barrel.

PEAK GOLD & SILVER will come sooner than later… [Read more...]

Something very interesting took place this weekend.  Silver Eagle Sales jumped a staggering 1 million from friday’s last update!!  According to the US Mint, silver eagle sales were 2,190,000 on Friday 9/24/12.  When they updated their figures on Monday 9/24/12, silver eagle sales stood at 3,125,000.

I have never seen a jump of this kind in silver eagle sales ever.  This also includes the buying during 2011 when the sales of silver eagles hit nearly 40 million. [Read more...]

September Silver Eagle sales updated today at 1,961,000 oz. If we keep up with this pace, we may see the highest month of sales for they year (not including Jan).

For the OFFICIAL MOVEMENT of GOLD out of the United States, June was a record export month. Here is the data: [Read more...]

THE POPPING OF THE SHALE ENERGY MIRACLE MEANS PEAK METALS SOONER THAN LATER

As the world wakes up to the fact that unconventional liquid energy sources will not be able to offset the ongoing depletion of conventional crude production, the world will have to survive on less in the coming years;  and that means less gold and silver.

The popping of the SHALE GAS MIRACLE just erased any remaining doubts that the world will be able to continue its delusion of maintaining business as usual… forever. [Read more...]

Lindsey Williams did an interview with Goldseek last week explaining the upcoming collapse of the U.S. Dollar & economy as well as the shutting down of the biggest oil drilling rig in the world –THE LIBERTY RIG.  Lindsey was a pastor to the elite during his stay in Alaska (1970′s) when they were working on the Prudhoe Bay oil field.  Lindsey believes he has an ‘INSIDE SCOOP TO THE ELITE” and shares this supposed information on interviews and DVDs.

Some years ago I started to listen to Alex Jones who would have Lindsey Williams on as a frequent guest.  While Lindsey was stationed in Alaska, he was told by the elite that there was the biggest oil reserve in the world right off the coast of Alaska near Gull Island.  They told him that this oil reserve was secret and they were not going to tap into it until the price of oil was much higher.  Basically the elite were telling Lindsey… there was no shortage of oil, rather they were controlling the world by manipulated the price of oil.

As time went by, some of the things that I heard (or didn’t hear) on the Alex Jones show or in Lindsey Williams interviews started to make me quite skeptical.  [Read more...]

Submitted by SD Contributor SRSrocco:

In 1998, Nevada was actually the 4th largest gold producer in the world generating 78% of all the gold mined in the United States.  We can also see some interesting changes when we compare the two charts.

China moved from number six in 1998 (150 tonnes) to number one in 2011 (355 t).  The biggest loser turns out to be South Africa which lost its number one position (465 t) in 1998 to become number 6 (190 t) in 2011.  Furthermore, Russia moved up to the 4th largest producer in 2011 (200 t) from the 7th slot in 1998 (105 t).

Isn’t it interesting that China & Russia have increased their gold production the most compared to all the other countries in the past 13 years?  Their combined total was 555 tonnes in 2011, up from only 255 tonnes in 1998.

Do you think they are motivated to mine and acquire as much gold as they can?  I wonder why? [Read more...]

Submitted by SD Contributor SRSrocco:

I at times have wondered just how much gold there is in the world.  I have read some of these articles and reports of the so-called hidden huge hoards of gold. 

While these conspiracies sound nice on paper… if we look at the historical gold-silver ratio of production, we may find some answers. [Read more...]

Submitted by SD Contributor SRSrocco:

Gold miners are facing several challenges.   Not only are costs increasing, but the Investment or CAPEX spending is increasing higher than most had forecasted.  The problem with the gold mining industry is the same with the oil industry — that is — they have to increase production every year to offset depletion rates.
The world has to increase gold production approximately 4.3-4.4 million oz a year, just to keep global gold production flat!

According to Nick Holland’s (CEO of Gold Fields) recent presentation on the top 8 gold miners, average gold ore grades have fallen 5% per year in the past five years.  This means that the gold mining companies have to either increase total processed ore or bring on new projects to offset this 5% decline on ore grades.

In 2011, the world produced about 87 million ounces of gold.  If we apply some simple math: [Read more...]

Submitted by SD Contributor SRSrocco:

Costs are increasing faster than the price of commodities are rising.  Even though some copper miners are making decent profits, it is not enough to supply all the FUTURE CAPEX spending that these companies have in their pipelines.  We must remember, the so-called forecasted increase of global silver production is based on these scheduled base metal mines becoming commercial. [Read more...]

The nitwits on MSM and CNBC who believe that gold is in a bubble, fail to understand that a large percentage of its recent price move higher has been due to the increased costs in the mining industry — and not because of rampant speculation.

This reminds me of a famous quote from the movie Aliens… “DID IQ’S JUST DROP SHARPLY WHEN I WAS AWAY?”

If we look at the information and data provided in the body of this post, you will realize that the price of gold will have to head much higher just to cover increased mining costs.  Furthermore, you don’t have to believe me… the title of this post came from an article quoting the World Gold Council’s chief executive, Aram Shishmanian. [Read more...]