by Hugo Salinas Price
Banco Azteca (BAZ) – a Mexican bank in which I have an interest – is the only bank that has been selling – and purchasing – “Libertad” silver ounces to and from the Mexican public in recent years.
The current price at which BAZ sells “Libertad” silver ounces to the public is $600 pesos.
The current price at which BAZ purchases “Libertad” silver ounces from the public is $550 pesos.
In October 2020, BAZ sold 55,622 “Libertad” silver ounces, and purchased from the public 15,315 ounces. At present, the desire of the public to purchase silver ounces far exceeds its willingness to part with its silver ounces.
The fundamental souce of supply of silver ounces for BAZ is Banco de Mexico, Mexico’s Central Bank; this institution has informed BAZ of its available supply of ounces for this year, and BAZ estimates that that supply will likely be exhausted before year-end.