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292

Hugo Salinas Price, president of the Mexican Civic Association for Silver, whose family operates Banco Azteca, reports that the Mexican central bank, the Banco de Mexico, has suspended production of the famous Mexican silver Libertad coin --

https://www.banxico.org.mx/banknotes-and-coins/new-libertad-series-silve...

-- attributing the decision to difficulties caused by the coronavirus epidemic.

Banco Azteca long has purchased the Libertad coins from the central bank and sold them to the public, with monthly sales lately reaching 50,000. Now, Salinas Price says, the only Libertads Banco Azteca can obtain are those its customers are willing to sell.

Of course in recent months the U.S. Mint also has reduced or suspended production of U.S. gold and silver coins, again blaming the virus epidemic.

People familiar with gold and silver price suppression policies of governments and central banks and with the tight conditions in the gold and silver markets suspect that the epidemic is being used as an excuse for decisions by the mints not to enter the market for monetary metals when demand is high, supplies are tight, and increased production of gold and silver coins might drive prices higher and encourage more demand.

https://silverseek.com/article/mexican-central-bank-reported-suspend-production-silver-libertads

Hugo Salinas Price, president of the Mexican Civic Association for Silver, whose family operates Banco Azteca, reports that the Mexican central bank, the Banco de Mexico, has suspended production of the famous Mexican silver Libertad coin -- https://www.banxico.org.mx/banknotes-and-coins/new-libertad-series-silve... -- attributing the decision to difficulties caused by the coronavirus epidemic. Banco Azteca long has purchased the Libertad coins from the central bank and sold them to the public, with monthly sales lately reaching 50,000. Now, Salinas Price says, the only Libertads Banco Azteca can obtain are those its customers are willing to sell. Of course in recent months the U.S. Mint also has reduced or suspended production of U.S. gold and silver coins, again blaming the virus epidemic. People familiar with gold and silver price suppression policies of governments and central banks and with the tight conditions in the gold and silver markets suspect that the epidemic is being used as an excuse for decisions by the mints not to enter the market for monetary metals when demand is high, supplies are tight, and increased production of gold and silver coins might drive prices higher and encourage more demand. https://silverseek.com/article/mexican-central-bank-reported-suspend-production-silver-libertads

(post is archived)

[–] 2 pts

A silver dealer that I subscribe to (via email) says the above report is indicative of a run on silver. They say it's good news for silver investors. And if you don't have silver, you should buy silver. All to create MORE of a run on silver. Thereby increasing the price of their sales.

Honestly, I don't know what to think. All of my silver is basically the same price that I paid for it.

[–] 1 pt

They have us stagnating in a tide pool. I'm hoping that is a Baby Ruth bar that keeps circling. Fingers crossed the tide comes in soon! Then it's surf's up!