SILVER ALERT: Geithner Panics and Shuts Down Silver Eagle Supply
Box Wier
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So word is flying around about how the US Mint has stopped shipping Silver Eagles. Here's the story:
US Mint Sold Out of Silver Eagles
http://news.coinupdate.com/us-mint-sold-out-of-silver-eagle-bullion-coins-1766/
"Authorized purchasers will be faced with a three week period during which there will be no American Silver Eagle bullion coins available to order from the United States Mint."
"The Mint recently informed authorized purchasers that all remaining inventories of 2012-dated Silver Eagle bullion coins had sold out and no additional coins would be struck. Since the 2013-dated coins will not be available to order until January 7, 2013, this leaves a three week void for the Mint's most popular bullion offering."
This is not the first time that the US Mint has either stopped producing the Silver Eagle or tried to ration them when they ran out of silver blanks but it is the first time that IT MAY NOT BE ILLEGAL!
I have written many letters to the US Mint over the years pointing out that they were in violation of the law by stopping production and they continually scrambled to find some convenient excuse but it never trumped the law stating the they were to mint coins in "quantities sufficient to meet public demand".
Back in July 2010 the writing was on the wall and they knew (because I told them) that the Silver Eagle Program was designed by Barney Frank to destroy the banking cabal so they set about to change the law. Here was the article I wrote back then...
The US Mint Fraud
http://www.roadtoroota.com/public/330.cfm
Last year Congress was coerced into changing the law such that it was now up to the JUDGEMENT of the Treasury Secretary
31USC5112(e)
http://www.law.cornell.edu/uscode/text/31/5112
(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in qualities and quantities that the Secretary determines are sufficient to meet public demand...
So there it is....we have to rely on the Treasury Secretary's JUDGEMENT on whether or not there are enough Silver Eagle coins being Minted to "sufficiently" meet supply.
But we ALSO know that Treasury Secretary Tim Geithner ORDERED the US Mint NOT to make anymore Silver Eagles this year because he's the only one that has the legal authority to do so!
Something BIG is coming in the next few weeks in silver.
Keep an eye out!
Bix Weir
http://www.roadtoroota.com/public/1063print.cfm