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  • Silver bullion coin demand has quadrupled in since 2007, says the U.S. Mint

    Silver bullion coin demand quadrupled between 2007 and 2013 the U.S. Mint noted in an eye-opening report this week explaining its silver “allocations” to authorized purchasers.

    The Mint said there is plenty of raw silver material available for purchase in the open market. However, periodic shortages of the blanks used for coin production do develop.

    It attempts to manage its supplies in a “manner that ensures we have a sufficient number of coins to meet the weekly demand of our authorized purchasers,” it said. “When that demand exceeds our ability to acquire a sufficient number of blanks, we then go on allocation until our inventories can be rebuilt again and the supply of blanks increased so that time spent on allocation is minimized.”

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    • How Government Cutbacks Ended Sweden’s Great Depression

      By Per Bylund

      Mises.org

      February 8, 2014
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      During the recent financial crisis, Sweden has emerged as one of very few financially sound economies. The country’s strong position, setting it apart from most Western nations, makes it an interesting example of what could — or should — have been done. Indeed, Paul Krugman, the former economist and Nobel Prize laureate, has repeatedly pointed approvingly at how the Swedes handled their depression in the early 1990s as the reason for their recent success. Specifically, he notes the nationalization of some banks at the time of the crisis. While he misses the point by focusing exclusively on a narrow selection of short-term measures rather than longer-term changes, as is the hallmark of a Keynesian, Krugman is right that Sweden has done some things right.

      In September of 1992 the Riksbank, Sweden’s central bank, raised the interest rate to 500 percent in a vain attempt to save the fixed exchange rate of the Swedish krona (Sweden’s currency). This drastic measure was taken in conjunction with large spending cuts and tax increases to address the free-fall of the nation’s economy. The economic meltdown was the culmination of two full decades of decline, and it fundamentally changed the political situation in Sweden.

      Since 1992, Sweden has, across the board, seen consistent government cutbacks while increasing restrictions on welfare policies, deregulating markets, and privatizing former government monopolies. The country has instituted an overall new incentive structure in society making it more favorable to work. The national debt tumbled from almost 80 percent of GDP in 1995 to only 35 percent in 2010.

      In other words, Sweden successfully rolled back its unsustainable but world-renowned welfare state. Despite Krugman’s wishful thinking, this is the real reason for Sweden’s success in riding out the present financial crisis.

      • 1 Reply to sharpie3444
      • Coming Global Collapse Will Eclipse The Terror Of 2008

        King World News

        February 8, 2014
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        Today the man who has been one of the most accurate in the world at calling movements in gold warned King World News that the coming collapse will be far worse than the terror that engulfed the world 5 or 6 years ago. William Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, also warned KWN that the reaction by global governments to this coming collapse will be incredibly alarming for ordinary citizens.

        Eric King: “Based on what you’ve been communicating to KWN, it appears you firmly believe that the 2008/2009 collapse is nothing compared to what’s in front of us?

        Kaye: “That’s right. The 2008 collapse was just a warning shot. That’s all it was. And the reaction by governments around the world was simply one of panic….

        “They (the governments) took the easy way out. Because of that they did not learn any of the lessons that should have been learned.

        If you have a problem which was precipitated by excess leverage, and ultimately the market is dictating that you can’t service that debt, which was going to lead to enormous wealth destruction, ultimately you’ve got to learn to intelligently de-lever. But instead of doing that, additional layers of debt were piled on everywhere, while policies of financial repression were used to prevent interest rates from causing yet another financial convulsion.

        But now we are getting to the point where the authorities are recognizing the fact that there is a major problem, and this cannot go on indefinitely. Look at the destruction that has already taken place in emerging markets because of the very slight withdrawal of the most extraordinary aspects of quantitative easing.

 
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