This is the crazy territory we ar now entering, where commodities are beginning to be priced higher than what they end up making, at least for a short time…can you see how hyperinflation is going to strike?
(I will also call attention to the comments posted to the original blog post. The US has made the same mistake with the National Park Service coins that are going on sale in December this year, by law they have to sell them and keep selling them until demand stops…)
_________________________________________________________________
Germany Unwittingly Adopts A Silver Standard Due to Soaring Price
By Toni Straka of The Prudent Investor
Germany Unwittingly Adopts A Silver Standard Due to Soaring Price
Silver’s sky-shot to a new 30-year high of $27.73 per ounce has led to a new phenomenon in Germany. For the first time in history it is theoretically possible to buy two last series of silver coins with a denomination of €10 and a silver content of 0.535 ounces for less than the silver equivalent. According to a report in German Daily “Welt” the soaring silver price has forced the German government to bring forward the starting time of sales of the 2 commemorative coins into October to save face. The coins now have a value of €10.66 but have to be sold at the denominated Euro value.As this story is widely circulating in Germany it can be expected that these coins will be sold out by tomorrow.
Germany’s time on a theoretical silver standard – the country was on a bi-metallic standard before the Weimar Republic in the 1920s – won’t last long, though.In order to counter soaring silver prices and keep the denominated value below the silver value the country has announced it will reduce the silver content to 10 grams or 0.3215 ounces in its commemorative silver coin line from January 2011.
————————————————————————————————
Comment posted to above article:
The US is in even deeper shit.
They have to distribute the national park set in the 5 OZ blown version for 120 dollars a piece.
As this also needs to be done according to US law, they’ll be sold out in 1 day when they sell them.
Launch will be in december and the maximum order quantity is 1000 pc for national parks and 50 sets per citizen.
AND!!!!
THEY HAVE TO MAKE THEM UNTILL DEMAND STOPS!!!
That’s why they wait untill the end of the year to do so because at first it was planned after the summer.
Click on the article title for a link to full original referenced article.
myBlessedHope 