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There’s no surer sign of FRAUD than prices falling whilst supply is falling FASTER; and when it comes to PHYSICAL PMs, it should be painfully clear by now that the supply/demand balance is “tight as a drum” – for both silver

PEAK SILVER?

…and gold; per last week’s RANT, “PHYSICAL VS. PAPER PMs – CASE CLOSED”…

WGP SGE Graph

However, even a term as ugly as “fraud” doesn’t do justice to what we have seen since the mid-January; when the Cartel went into ATTACK mode; just days after the U.S. Mint announced a 12-day suspension of Silver Eagles due to SHORTAGE…

US Mint Out Of Silver Coins – Suspends Sales – January 13, 2013

…amidst the STRONGEST-EVER U.S. retail demand…

Largest Monthly U.S. Mint Silver Eagle Sales

Month

Ounces

Jan-13

7,498,000*

Jan-11

6,422,000

Jan-12

6,107,000

Sep-11

4,460,500

Nov-10

4,260,000

Apr-13

4,087,000

May-13 (pace thru 5/13)

3,714,643

Aug-11

3,679,500

May-11

3,653,500

May-10

3,636,500

Jan-10

3,592,500

Jun-11

3,402,000

Mar-10

3,381,000

Feb-13

3,368,000

Mar-13

3,356,500

*Sales suspended 12-days due to shortage

SHORTAGE will be the END GAME for those aiming to PROTECT their assets…
Depleted Supply Pic

…and after last month’s “ALTERNATIVE CURRENCIES DESTRUCTION,” we yet again saw it in “all its glory”; particularly in the Cartel’s “Achilles Heel” – PHYSICAL silver…

Junk Silver Graph

SHORTAGES eventually yield DEFAULTS; particularly in the corruption-tainted PAPER PM “industry”…

JPMorgan Accounts For 99.3% of COMEX Gold Sales in the Last Three Months – April 26, 2013

JPMorgan’s Eligible Gold plummets 65% in 24 Hours to All Time Low – April 25, 2013

…and after last month’s ATTACKS, nowhere were they more evident than in the world’s financial “crime capital”…

MaguireLBMA Default Triggered Gold & Silver Takedown – April 15, 2013

Maguire – Elaborates on the LBMA Default & Ensuing Panic – April 22, 2013

However, such “chinks” in the Cartel’s armor are EVERYWHERE; as PHYSICAL PM demand is currently at its highest level EVER…

Gold Buying Frenzy continues: China, Japan, and Australia Scramble for Physical

India’s Response to the Gold Sell Off: A Massive Buying Frenzy

…and if ANYONE believes otherwise; they should recall January’s announcement that the Federal Reserve is DEFAULTING on Germany’s repatriation request  – by telling them it will take seven years to delivery what should take no more than seven weeks

German Bundesbank to Repatriate Gold from New York Fed – January 15, 2013

…let alone, March’s announcement that the Netherlands’ largest bank is DEFAULTING on PHYSICAL gold deliveries…

Another Gold Shortage? Dutch ABN to Halt Physical Gold Delivery – March 24, 2013

…and last week’s news that the Hong Kong Metals Exchange is DEFAULTING on gold futures contracts – via euphemistically titled “cash settlements”…

HKMEX to Cease Trading, will close out & Cash Settle Open Contracts Monday! – May 18, 2013!

They say “where there’s smoke, there’s fire”; and right now, I feel like the taste tester in a Marlboro factory…

Natalie Imbruglia – Smoke