Massive Run on Gold and Silver! Physical Demand off The Charts!

• Massive Run on Gold and Silver! Physical Demand off The Charts! 
  by http://www.libertygoldandsilver.com/GoldandSilverBlog/
  We are in the midst of experiencing two of the most radical weeks in the history of the precious metals markets.  Paper prices for gold and silver, those prices determined by the fraudulently managed commodities exchanges (namely the COMEX and the London Bullion Marketing Association – LBMA) and regulated by the equally corrupt and complicit Commodities Futures Trading Commission (CFTC), have been driven into the basement.
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  Simultaneously, the available physical supplies of precious metals, especially silver, have suddenly nearly disappeared.  Some of the most extreme shortages for silver in memory have caused premiums for all types of bullion and coins to skyrocket.  Nearly all major wholesalers in the United States, and for that matter the world, are completely out of stock for smaller denominated silver rounds and bars, with no projected delivery dates in sight.  This phenomenon is a worldwide event.
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  Here is a brief overview of the extraordinary world events highlighting the tremendous surge in precious metals demand.
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  India
  Last week, the highly reputable Business Standard of India reported that there are “acute” shortages of gold in southern India.  Reports the Standard, “Major jewelry manufacturing centers in southern India are facing an acute shortage of gold ahead of the wedding season despite the industry’s claim to have seen a record import of the yellow metal last financial year.”
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  Thailand
  US ex-patriots living in Bangkok are reporting that gold dealers in that city are completely out of bullion products other than minor amounts of jewelry.  These reports are stating that there is not one ounce of gold bullion available for sale!   Dealers are taking orders but these are limited to 2.5 ounces per person.
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  China
  Gold demand is surging.  China’s domestic gold consumption is outpacing its internal production 5.5 to 1.  China’s mining output was up 5.8% in 2011 but its domestic consumption of the yellow metal increased by 33%.
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  Hong Kong
  Reports from Hong Kong have seen line-ups out the doors of precious metals dealers.  Dealers are reporting massive buying with almost zero selling.  Some dealers are reporting that they have sold more gold in one day than they normally do in three months with walk-up clients buying over a million dollars in gold with cash and taking it out the doors in gym bags!
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  Europe
  Dutch Bank Shuts Down Gold Deliveries Possible major shortages of its clients’ deliverable gold has forced Dutch megabank ABN Amro last month to dramatically change its custodian rules.  ABN Amro announced March 24th that it “will no longer allow physical delivery.”  Hysterically, ABN Amro account managers attempted to soothe their clients by saying, “You need to do nothing” as “we have your investments in precious metals.”
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  Major German Auto Manufacturer Hoarding Silver It is being reported from Switzerland that a world famous German automaker is now resorting to storing thousands of pounds of .999 fine silver for perceived future shortages.  The company’s purchasing manager has been quoted saying, “For some metals, like silver, there’s no such thing ‘just in time’ delivery anymore.”   It has further been reported that this company is buying every available ounce it can in preparation for severe world shortages.
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  Switzerland to Buy a Stunning 1,000 Tons of Physical Gold? A political movement inside Switzerland has acquired one hundred thousand signatures towards new legislation to eliminate future gold sales by the Swiss National Bank as well as to require the Swiss government to buy back immediately one thousand tons of gold that it already sold.  If this becomes law, it will have a significant impact on tightening world gold supplies.
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  United States
  16% of US Annual Silver Production Vaporized in Mine Collapse A massive landslide at Rio Tinto’s Kennecott mine in Utah, on April 12, 2013, has wiped out five million ounces of annual silver production and five hundred thousand ounces of gold production.  Taking into account that the US Treasury requires all US Eagles be manufactured exclusively with US mined gold and silver, the extreme shortages of these products can only increase.
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  US Mint Reports Massive Silver Sales The US Mint reported that it has sold one 1.645 million ounces of Silver Eagles through the first six business days in April, bringing its 2013 total to an extraordinary 15.868 million ounces this year.  This is on pace to completely crush the current annual record.  Because of unprecedented demand, all dealers are on very tight allocations with almost all retailers as well as major wholesalers completely out of stock.  Earliest expected shipments are at least 4 – 6 weeks out!
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  US Mint Gold Sales Setting Monthly Records In April 2012, the US Mint sold 20,000 ounces of gold bullion coins.  As of April 16th this year, the US Mint has sold over 50,000 ounces of gold and the month is only half over!!
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