We have well documented over the past few months the unprecedented flows of physical gold and silver being drained out of Western vaults and shipped East.
SD reader Chichura, an American currently residing in China, has provided a boots-on-the-ground first-hand account which substantiates our recent claims that spiking silver premiums on the Shanghai Gold Exchange indicate a shortage of the physical metal in China.
“3 months ago, when I inquired about buying some more bars, they said that I would have to wait a month.
So, yesterday, I stopped by the shop and was told again that I would have to wait a month.
The affordable investment grade bars are in shortage.”
Click here for Chichura’s first-hand account of the developing shortage of investment grade silver in China:
Failure to be able to see what’s coming in these perilous times will result in being left with nothing.
So, buy physical my friends, whoever you are, if you are seeking to protect yourselves against the economic collapse just around the corner.
I raised the buy flag last week.
I do not mean these are the lowest prices that will be seen, however, ANYTHING below $20 is a great bargain and the time is quickly coming when I will raise the buy flag to an alarm level because the collapse is about 1 year away.
“Stay thirsty my friends” AND start building your dry powder (physical precious metals) from your paper investments cause they ain’t going to be around much longer…Click here for more on the latest gold & silver COT- & why investors should stay thirsty for physical:
One of my contacts with one of the largest European precious metals brokers told me this morning that they could not find any silver. All the refiners they contacted could not take their orders and could not give any delay. “Call us next next month”, they said. This is the first time that such an event has occurred.
On Wednesday, he attempted to source a ton of silver (32,000 oz), from the three main Swiss refiners. Two of them refused to take the order entirely, and the third refiner stated delivery would take 2 weeks.
The refiners claimed they had been very busy during the last month trying to fulfill an “enormous” Chinese order.
Click here for more on the developing European wholesale shortage of silver: