NO MORE SILVER EAGLES – AGAINby Michael Pennington 

An obvious question is where have all the silver eagles gone? As of today, none of the large suppliers of bullion dealers, or the dealers themselves have anymore silver eagle boxes. I have said it before on this forum and others that the day is coming soon when it will be impossible to buy silver at any price. Once again, we have witnessed blatant manipulation on the part of the FED and their elitist owners in the past several weeks driving the price of both gold and silver to dangerous low levels. They do this simply by selling the metals short in the “paper market” intensely enough to convince speculators that they should sell their long positions and the route is on. The reasons, as always, are to convince people that their dollar is solid and that there is no inflation eating away at the middle class assets. This is motivated so they can continue their devastating policy of creating more dollars in attempt to keep their credit rich, fiat system from collapsing. It will inevitably, but in the meantime they have to keep the sham alive. Just this week, the FED announced they have loaned troubles banks another $25,000,000,000. They have already “loaned” Freddie Mac and Sallie May $50,000,000,000 and yet unbelievably they allow these GSE’s to still pay their shareholders a DIVIDEND that comes from the money borrowed from the American taxpayer.I mentioned the danger of lower prices. Everyone is aware of the huge short position in silver. It is the largest short position in any commodity in our country’s history. It is more than one year’s full production. The regulatory officials turn their heads and allow this illegal activity to continue. This past week Silver dipped below its cost of production. Two of the nation’s largest silver miners just reported losses for the second quarter. If they are losing money when silver was at $17.50 per ounce, what do think will happen at $14.50 per ounce? When the mines stop producing, silver is still needed for many manufactured goods and processes. Prices will escalate rapidly and then the millions of ounces short will be squeezed, probably into default.Remember, these markets exist on fear and greed. When prices are falling, fear takes over and visa versa. But you need to have the courage of your convictions. DO NOT BELIEVE WHAT YOU HEAR IN THE MAINTREAM MEDIA. Believe what you see with your eyes. Know the fundamentals and stick with them. Manipulation has always been a short term strategy. The markets eventually react as they should. The dollar my friends is toast. Everybody else in the world knows it and most of the world’s largest nations are doing whatever they can to diversify out of dollars. The Euro was muscled off the near $1.60 level by more than $10 billion in currency market intervention, along with Trichet’s verbal intervention stating that the economic environment might take precedent over inflation. Today as he reverses himself by making inflation the primary concern, more intervention is taking place to make the Euro look weak in the face of a statement that should have had the opposite impact.When evaluating your investments look at the return/risk over a given period. Any clear minded individual aware of the facts will conclude that gold and silver, but especially silver, are among the best investments today at these prices.