The U. S. Empire is in real trouble. This is due to its idiotic business model of selling quality assets while acquiring massive liabilities and debts. Of course, the U. S. Government realizes this is not a sustainable way to do business, but at least for now…. we continue to have our Bread & Circuses, McDonalds & NFL Football for a bit longer.
Furthermore, Americans have no clue that the U. S. Dollar’s world reserve currency status continues to disintegrate each passing day as more countries elect to by-pass the Dollar and trade in other currencies… especially the Chinese Yuan.
The Total Liquidation of U. S. Silver Stocks One such asset the U. S. Government totally liquidated is its massive stocks of silver. In 1940, the U. S. Treasury held 3,135,000,000 oz of silver. That’s correct, 3.1 billion ounces. That is nearly four times the current annual world mine supply of 820 million oz.
This figure is documented on page 64 in the USGS 1940 Gold-Silver Minerals Yearbook:
This post was published at SRSrocco Report on September 15, 2014.