Scotia Mocatta Sells Out Of All Silver Bars

Submitted by Tyler Durden on 02/02/2011 10:47 -0500

When a week ago we noted that ScotiaMocatta sold out of the Valcambi 1 kg block, yet once again showed the 100 oz silver bar as back in stock, we said: "We will keep tabs on how long before this also becomes "sold out."" We have the answer and it is 7 days. As of today, Canada 's biggest bullion bank is out of not only the 100 oz silver bar, but all silver bars! This follows yesterday's news that in January the US mint sold 50% more silver than in any month before.

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Submitted by Tyler Durden on 02/02/2011 07:47 -0500

"To rebalance debt loads and re-equitize financial institutions that should have known better, central banks and policymakers are taking money from one class of asset holders and giving it to another. A low or negative real interest rate for an “extended period of time” is the most devilish of all policy tools. And the asset class holder that it affects, or better yet, “infects,” is the small saver and institutions such as insurance companies and pension funds that hold long-term fixed income assets. It is anyone who holds bonds with coupons that cannot keep up with inflation or the depositor in a local bank who cumulatively holds trillions of dollars in time deposits that don’t earn a real rate of interest. This is the framework that has been created by modern-day policymakers who have innovated far beyond their biblical counterparts. To put it bluntly, they are robbing savers and taking money surreptitiously from longer-term asset holders who are incorrectly measuring future inflation." - Bill Gross 

 

 

 

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