Andy Hoffman – Gold and Silver Shortages Coming This Year
by Greg Hunter
USA Watchdog
Financial writer Andy Hoffman says we are getting to the end of the road for the fantasy economy. Hoffman explains, “I shy away from predictions as much as possible and . . . when things will happen. When will the gold cartel break? When will the big one will happen? It’s an unknowable thing in a manipulated world, but if you listen to me lately, I have never been more passionate that I don’t think things can make it through this year, and people like David Stockman (former White House Budget Director) think the same. There are just too many things coming to a head right now. The economy of the world has never been worse quantitatively and qualitatively. The political and social ramifications going on because of the bad economy have never been more tenuous.”
Gold and silver are a different story as Hoffman contends, “If you look at my world, the gold and silver world, never before have we seen such high demand, low inventory and now falling production. So, I am in the camp that does not believe that the powers that be can hold this thing together through the end of this year.”
What about reports that gold and silver are plentiful? Hoffman, who works for Miles Franklin, says, “As far as what we see, as one of the largest bullion dealers in the nation, last summer, we had one of the biggest silver shortages since the 2008 crisis. Since then, business has been very brisk, but we are not yet at the level where premiums are surging and have shortages (in the U.S.) That said, around the world, people cannot get product. There is a reason why (demand at) the U.S. Mint is off the charts. Last year was a record year for selling Silver Eagles. This year, we are at a level that is at a pace 40% or 50% above that.”