US Treasury trying to reduce ASE/AGE mintages

Discussion in 'Silver Coins' started by Clawhammer, Dec 7, 2010.

  1. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    http://goldandsilverblog.com/gold-and-silver-treasury-secretary-public-demand-0124/

    The US treasury has been pushing a bill to amend the number of ASE/AGE coins the US Mint HAS to produce by law. Obviously they've seen how much bullion is walking out of the treasury doors. Is this the thin edge of the wedge regarding PM restrictions?

    The article argues that the inclusion of the word "quality" takes into account the deletion of 'proof' coins by the mint in 2009, and will allow the mint to concentrate on quantity.
     
  2. Stedlar

    Stedlar Active Member

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    Well, I guess if they do this then it will just feed the fire.
     
  3. Agauholic

    Agauholic New Member

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    Epic....

    I wonder all the other knee-jerk reactionary moves we will see in the run up to $500ounce...

    Confiscation is surely not off the cards
     
  4. Matthew 26:14

    Matthew 26:14 New Member

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    Yeah that'll work, restrict supply to force down prices.
     
  5. goldpelican

    goldpelican Administrator Staff Member

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    that the Secretary determines are sufficient

    This is the alarm bell for me - so someone might decide that 12 million coins are sufficient and only crank out a million a month when they've been selling at anywhere from one to four million a month this year.
     
  6. projack

    projack Well-Known Member Silver Stacker

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    Good news for th Perth Mint
     
  7. silverAM

    silverAM New Member

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    did u mean More like drive up prices?
     
  8. DutchBullion

    DutchBullion New Member

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    I smell sarcasm.
     
  9. domdolittle

    domdolittle Member Silver Stacker

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    Would they ever learn ?

    Every time you try to manipulate something somewhere there is always other things that will have to be added, modified or even falsified to balance the way of things looking normal.
    The truth is, there is nothing left to trust in the way the US govermin is running the show.
    Yes, the Plumbers (PPT) will close a valve here and there but the pressure will have to be dealt somewhere else or the whole she-bang will blow up in their faces.
    You have Silver and Gold, good... now sit tight and watch the show, you won't be dissapointed !
    :cool:
     
  10. chimpanchu

    chimpanchu New Member

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    This is definitely a camel nose inside the tent.

    I'm sure as hell they won't stop at this and this is just the beginning of more buying restriction on PM.

    And who's to say Australian govt and Perthmint won't follow suit? Currency crisis is NOT just American problem, Australian too.
     
  11. zurnaik

    zurnaik Member

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    This is a failure of logic! How can the secretary determine what quantity is 'sufficient' for public demand? :) Public demand is public demand, the more demand there is the more orders pop up on their computer screens. There doesn't need to be a 'determination' made anywhere!
     
  12. boston

    boston Active Member Silver Stacker

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    +1
     
  13. Loxmyf

    Loxmyf Member

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    At the start of the year the Secretary determines that public demand will be 1,000,000 a month. 1,000,000 a month are sold. Voila; demand is equal to supply and he's done his job.

    Yes, the sarcasm tag is in effect.
     
  14. PerthStack

    PerthStack New Member

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    You have to remember, the US use supply side economics and trickle down, not the more rational demand driven market model.
     

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