commodities a bull market can thrive. This takes place when supply declines faster than demand—disrupting the fragile balance and igniting what we believe are the beginnings of a massive bull market.
In 2012, for January alone the U.S. mint sold 6,107,000 oz. of silver, after remaining stable throughout 1999-2007, averaging 9,400,000 oz. annually. In 2008, sales more than doubled, reaching 19,700,000 oz., and then another huge rise in sales to 34,700,000 oz. for 2010. In 2011 a fresh peak was set: 39,868,500 oz.! This is more silver than the United States produces as a nation, for the sole use of being fabricated into 1-ounce coins.
For the remaining silver needed for industrial and other purposes, the United States relies on imports. The January 2012 United States Geological Survey shows that U.S. reliance on silver imports has grown from 64% in 2007, up to a staggering 75% of U.S. consumption coming from overseas....more
USD/CAD: Is this just the beginning? 1.40 is next?
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