Where Did the Silver Go? - Andy Schectman #5679

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 Useful Links: Financial Survival Network Miles Franklin [email protected]