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US Mint Suspends Gold Coin Sales
GATA. org
Submitted by cpowell
8-17-8
Dear Friend of GATA and Gold:
The U.S. Mint has suspended sales of American Eagle gold coins and is
refusing orders from dealers, two coin and bullion dealers confirmed
Thursday.
The mint's
suspension of gold coin sales follows its tight rationing of sales of silver
eagle coins, begun in May, when sales to the public were terminated and sales to
the mint's 13 authorized dealers were tightly limited.
Word of the mint's suspension of gold coin
sales came from the American Precious Metals Exchange in Edmond, Oklahoma,
(..
://apmexdealer.
blogspot. com/2008/08/news-alert-us-mint-suspends-sales-of. html) and from
Centennial Precious Metals in Denver, Colorado.
The suspension is overwhelming evidence that
the futures contract price of gold on the commodities exchanges is substantially
below the physical market price and that, indeed, the commodities exchanges are
being used as GATA long has maintained -- as part of a massive scheme of
manipulation of the precious metals, currency, and bond markets.
Michael Kosares,
proprietor of Centennial Precious Metals and host of its Internet bulletin
board, the USAGold Forum
(..
"The U.S. Mint buys direct from the
refiners, and this suspension of gold eagle sales may be an indication that the
supply line is already backing up, or that the mint expects that it will back up
for the rest of the year. I wonder who would give up physical metal at these
prices and under these circumstances except distressed sellers. The central
banks are in a hunker-down mode as far as I can determine, and it's the mines
that supply the refiners. So if the mint, which buys from the refiners, is
having a difficult time locating metal, what does that tell you? I keep saying
that we may get a surprising rubber-band effect later in the year when the
pre-holiday/festival season kicks off in September/October. It may happen
sooner. One of our indicators of approaching a bottom in gold is how many calls
Centennial Precious Metals gets from our U.S.-based Indian clientele. Here's a
quote from my office's report to me at the end of the day today: 'Today was a
good day. ... There must have been an Indian convention where someone was
handing out USAGold business cards.' That may give you a clue as to thinking in
India proper and probably the rest of the Asian rim."
That is, through
their agents the bullion banks the Western central banks, desperate to prop up a
corrupt and totteringt financial system, have put gold so much on sale that even
the U.S. Mint can't find any now. The price reported from the commodities
markets is a fiction -- a scary one, perhaps, but a fiction no less.
You can strike a blow
at the market riggers who are defrauding the world -- just buy a little real
metal The dealers listed at the bottom right of this dispatch will be glad to
help you do it.
CHRIS POWELL, Secretary/Treasurer Gold
Anti-Trust Action Committee Inc.
* * *
Contact GATA
info@gata.org
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