Dec 16, 2022
Summary:
Where has all the silver gone? Andy Schectman comes on the show to
talk about what’s happening in precious metals, specifically
regarding the decrease in inventory. This is happening both in the
COMEX and the London Metals Exchange, and inventory is down almost
four million ounces for the week. 673 tons have been shipped out of
the COMEX this year—the highest yearly total since 1967—and
liquidity is being stripped away as a result. Andy recommends
starting to accumulate gold and silver now to set yourself up for
future investments, expenses, and the unexpected.
Highlights:
-Where has all the silver gone?
-This is happening in the COMEX and the London Metals Exchange. The
inventory is down almost 4 million ounces for the week
-We’ve lost 100 million ounces in 18 months that have been
delivered away from COMEX, which strips away their liquidity from
an industrial perspective
-We’ve seen 673 tons shipped out of the COMEX—which is higher than
any yearly total since 1967
-Metals are moving eastward, and not coming back
-For the
-Gold has risen by $200 in the last few months and the commercial
banks that typically short it have not joined in
-Andy believes the banks have set a trap
-The best thing to do right now is get out of debt as much as
possible, and to prepare yourself for the future
-Own silver because it is the most under-valued commodity right
now, and will offer protection
-Andy suggests 1oz of gold and silver coins that are widely
accepted as a starting point
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Miles Franklin
info@milesfranklin.com