New law lets Treasury diminish gold, silver coin production

Posted: December 7, 2010 in Current Events, Gold, Investing, Precious Metals, Silver

The treasury and the government are getting desperate about suppressing gold and silver.  This is from Gata.org. 

Zielinski reports that new legislation passed by the House and Senate — H.R. 6162, the Coin Modernization, Oversight, and Continuity Act of 2010 — which awaits action by President Obama, diminishes the obligation of the Treasury Department to make gold and silver coins available to the public.

Current law requires the department to mint gold and silver coins “in quantities sufficient to meet public demand.”

The new law would require the department to mint gold and silver coins “in quantities and qualities that the secretary determines are sufficient to meet public demand.”

There is nothing the government can do to suppress gold and silver.  The PM’s are going much higher.  The cat is out of the bag, we know gold and silver have been suppressed for years, while global demand goes through the roof.  Gold and silver are the destruction of the bankers fiat currency backed by nothing.  Real wealth is GOLD & SILVER! Continue to buy forget about spot prices all pull back will be met by huge demand.  You need to put aside a budget for your precious metal monthly purchase.  If you only have a small amount a month that is just fine buy an ounce of silver a month if that is all you have.  When silver is $200 an ounce 3 to 5 years from now your $30 an ounce is irrelevant.  This is an investors dream!!  This bull market is the real deal!! Keep in mind the largest future contract is $1500 an ounce by year-end.  That would give us a $32 silver by year-end based on the current silver to gold ratio of 47:1.  We will hit $50 next year which may end to be conservative.

Full Article Here

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