Thanks to another reader, David, for sending another obscure but important story our way. A little more demand here, a little more demand there and the next thing you know, a little short squeeze you know where.
Rich farmers now buy silver bars, not jewellery
MUMBAI/PUNE/KOCHI: Rural India is opening a new chapter in personal finance. Instead of jewellery and utensils, farmers are celebrating their rich pickings from high crop prices by buying traditional favourite silver in coins and bars as the precious metal touches a 30-year top of Rs 50,000 per kilo. That’s no small thing. Rural consumers purchase 60% of over 2,000 tonne of silver India imports annually.
Traders say rural families are convinced silver will continue to spiral and therefore want to buy it in forms that are easy to encash later. Coins and bars, with guaranteed purity, make it easy. In 2010, silver outperformed gold in terms of returns, generating three times more.
You can read the entire story here:
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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