pastillas para tener una ereccion safe buy requip online shuddha guggulu shoppers drug mart buy serophene from india pioglitazone and bladder cancer mechanism ordering cheap brand levitra pharmacy ciproxin 500 mg cistite posologia side effects of detrol la 2mg effexor xr missed dose symptoms getting tetracycline in australia generic synthroid safe how to order omnicef online retino a cream price buy zpak without a prescription what is chloromycetin overnight pharmacy cheap bentyl fedex actos without prescription miami cephalexin cost comparison what is rizatriptan benzoate retin-a gel 0.01 reviews side effects of amaryl 3mg where to buy diamox in singapore cost of cyklokapron finpecia online coupon code actos buy usa brand amoxil pills viagra sublingual reviews for men buy viagra online with no prescription with overnight delivery cleocin phone orders buspar combined prozac pharmacy has best price benfotiamine aldactone fastest delivery Purchase seroquel 300mg no prescription glyset usa order generic clonidine malegra fxt on line licensed pharmacy viagra professional how to help someone with an addiction to pain pills cefadroxil sublingual dosage prinivil online can you buy amaryl over the counter in germany getting biaxin in australia prix cialis en pharmacie paris cephalexin non perscription countries tolrest cloridrato de sertralina emagrece doxycycline 100mg dosage for chlamydia what is diltiazem hcl er cd caps propranolol prescriptions beconase aq 100mg cheap how to spot fake viagra discount canadian pharmacy desyrel us online pharmacy no prescription myambutol can you buy pharmacy zovirax ointment how long to use diclofenac acheter pas cher cytotec best online pharmacy generic nolvadex pharmacy that sells neurontin where can i buy low dose naltrexone in the uk effexor xr for sale australia low price zyrtec uk order cod buy endep xeloda shortage brand cialis costco alesse uk equivalent safe to buy generic elavil from canada finpecia without prescription miami can we trust alphagan online order augmentin 120 mg what drugstore makeup brands don;t test on animals best site to buy cymbalta what is aristocort ointment bentyl capsules 10 mg flonase for daily use canada drugs similar paxil prandin roche precio argentina aceon coupon code canada online pharmacy for vermox pharmaceutical jobs north west prilosec lawsuit 2012 clomid coupons how to get nexium samples diarex medication overnight delivery generic zyvox 300 mg lukol to buy in england buy clomid cheap uk viagra shopping in india how to get off of risperdal zyloprim drug classification bactroban price philippines prilosec generic version i want to buy trazadone bactrim ds and cold medicine buy cheap dapoxetine online can you buy cefadroxil over the counter cozaar annual sales billion non prescription grifulvin v pharmacy endep without prescription canada where can i buy aspirin in canada orlistat uk buy differin reviews for acne lasix sublingual dosage accutane 40 mg a day results ventolin 100 mg is it safe to use rogaine and propecia together what is the dosage for cialis comparateur de prix xenical what is pravachol used to treat keppra epocrates online lincocin con eucalipto dosis is there a generic form of estrace atarax online overnight do you need a prescription for diflucan cyproheptadine tablets ip cephalexin medicine indian pharmacy viagra professional snovitra super power online overnight shipping astrazeneca nexium discount card indian pharmacy tadacip buy genuine minocycline uk sale zestril online cod metoclopramide prokinetic mechanism of action world rx services reviews diovan in india can i order antivert no prescription in the usa how to take cordarone plendil online without prescription discount metformina canada pharmacy xeloda shopping what does silagra do institute of nuclear medicine and allied sciences (inmas) delhi buy tulasi online india micardis for daily use canada is there a shortage of ortho tri cyclen pharmacy assistant jobs ireland how to order cefixime online where can i order fincar prazosin hcl 10 mg clomid pharmacy cheap medications without prescriptions canadian superstore online pharmacy reviews viagra mckesson zetia coupon buy actos pioglitazone hcl type diabetes tramadol and alcohol uk to buy leukeran in uk prevacid online sales pharmacy that sells protonix buy nolvadex perth acheter une livebox 2 can zantac 75 get you high ordering doxycycline 500mg purchase kamagra gold cheap mg viagra soft buy australia cheap penegra sale uk mail order generic zocor prevacid coupons january 2013 buy liv 80 mg online recommended dose of benadryl for infants normal cialis dosage how to buy differin gel can you buy flonase in ireland buy vermox bulk opiniones ivalia dermis order diclofenac pharmacy visa discount cheap pills coupon code how is nitroglycerin stored best price for real diovan what is toprol xl tablets doxycycline for dogs same as people cheap fertomid free delivery how long to get nexium out of system resources for acai diclofenaco sodico gel embarazo ordering prescription drugs online from canada hair loss after using accutane eulexin paypal geriforte canada overnight delivery cafergot availability in australia tramadol dosage for dogs snovitra super power generic wikipedia drugs brand cialis cost comparison leukeran shelf life buy clozaril canada what does methotrexate do to your body is my finpecia fake aciclovir breastfeeding viagra for sale paypal vytorin generic reviews buy lipothin in ireland aciphex over the counter equivalent prescription alli diet reviews orlistat metformin from merck betoptic prescription coupon buy alli weight loss uk clinically order vpxl online no presctiption mobic meloxicam side effects azithromycin 250mg tablets used for zyrtec medicine while pregnant atacand mais barato seroflo barato ordering flomax here in canada buy ortho tri-cyclen generic lipothin tablets us online furosemide veterinary medicine can you buy himplasia over the counter in germany zyrtec tablets online get aceon las vegas how much will metoclopramide cost buy over the counter hoodia online safe phenergan buy generic for synthroid norvasc without a prescription from canada side effects of coming off prozac buying uk drugs buy estro500 australia buying zyrtec for dogs neurontin lawsuit settlements prevacid generic 2013 drugs canadian alliance of student associations 1995 buy generic amitriptyline augmentin 10 mg ortho tri-cyclen online generic furosemide lasix cost abilify maintena approval nosipren prednisone side effects mevacor to buy from europe elavil birth control online mexico canadian health and safety legislation cialis commercial dad turns up music canadian pharmacy 24 hour review safe buy differin online chloramphenicol limited india clavamox dt 875 spironolactone aldactone side effects elavil amitriptyline medication singulair with american express cheapest metformin online accutane long term side effects infertility buy antivert online india maxalt melt ingredients discount canadian pharmacy doxazosin buy minomycin in india online how to use finpecia tablets vipps online pharmacy in canada zetia usa cheap nymphomax sale uk do i need a prescription for kamagra gold amitriptyline for daily use canada diflucan where to buy cheap genuine maxalt online lansoprazole 30 mg dosage 10 lidocaine cream what does zovirax do online imuran purchase cheapest coversyl amoxicillin 500mg alcohol cheap genuine requip online cheapest places to live florinef brand positioning 20 mg prednisone high dosage order isoniazid overnight say doctor get prescription viagra buy cialis soft in ireland xenical uk support antivert suppositories buy compare prices lukol viagra side effects in women canada pills online for klonopin buying cialis sublingual using paypal septilin pharmacy prices list methotrexate dosage calculator for ectopic compare prices naprosyn xenical by roche buy wellbutrin sr paypal accepted price of plavix 75 mg genesis today acai berry chews reviews what are the long term side effects of unisom what is amoxil used for in babies lotrisone delivery uk buy z pak no prescription alli online bestellen viagra soft without a prescription from australia alli over counter medicine prograf generic side effects speman for men in usa side effects of xenical orlistat 120mg wo viagra rezeptfrei kaufen where can i order motrin how much can you sell viagra for phenergan codeine cough syrup dosage is ethionamide a prescription drug cialis sublingual pct buy febuxostat vs allopurinol gout mail order generic florinef nizoral generic shampoo warfarin alternatives light blue oval pill watson 540 one side buy bactroban hong kong crestor sales 2010 kosovarja chat nolvadex pct reviews atarax no prescription needed canadian online pharmacy glyset dosage too high vp 120 drug levitra professional no prescription pill bayer generic actos 30 mg buy dulcolax suppositories online pharmacy has best price aleve generic geriforte syrup in usa brand cialis drugstore.com cialis professional no prrescription what is ic indomethacin 50 mg life brand flu pills nitroglycerin medication form micardis tablets on line to buy bactrim forte uses costco pharmacy prices list can you buy motilium cymbalta price walgreens minocin canada head office trazodone hydrochloride 50 mg capsules over the counter antabuse shuddha guggulu over the counter worldwide pharmacy motrin ventolin inhaler dosage children buy cheap ditropan cheap au buy metformin vigrande 50 mg fiyat what is the dosage of doxycyline for dogs wth heart-worm diclofenaco pensa 10 mg emulsion cutanea amantadine in canada get dulcolax toronto rosuvastatin suppliers overseas where can i buy vermox directions for taking 100mg viagra dose pack sale depo medrol can you buy grifulvin v doctor infections acquisto albendazole sicuro online avalide online pharmacy uk buy toprol xl discount moduretic medicine children zyvox pills drugstore buy levitra professional online from australia dog earthworm medicine online phenamax where can i buy it lipitor 4 copay card participating pharmacies aspirin order by phone do you need rx sarafem pharmacy cephalexin penicillin mestinon cheap uk zithromax buy on line compare prices voveran combivent 40 mg dose long term side effects of nizagara celexa by mail order how to buy duetact purchase cheap bacterial order zithromax requip how to buy how to buy lamisil best prices propecia safe place order olanzapine ramipril dosage for hypertension buy antabuse tablets uk no rx omnicef online babymed clomid calculator generic betapace in usa albuterol sulfate inhalation solution 0.5 msds nizoral shampoo usa buy olanzapine bulk flomax rxlist buy amoxicillin tablets no prescription buy cheap arimidex cheap prescription drugs uk buy norvasc 5 buy glimepiride no prescription generic atorlip-5 no prescription purchase fosamax cheap best generic voveran sr review side effects of nolvadex in men vermox in canada stopping allopurinol medication purchase propranolol 40 mg cialis tadalafil 20 mg nedir costco uk order canada doxycycline online lamisil pill canadian best place to buy levaquin in canada generic no prescription lexapro online alli diet plan book silver slimming tablets they safe alli over the counter prescription orlistat brafix shortage one man one jar dilantin loading dose po what is clonidine tablets zentel 200 mg dosage of what is ampicillin pills used for voltaren gel dosage information generic cialis 10mg online can you only get rogaine 2 on prescription buy saw palmetto oil horse meds online canada what does clomid do to hormones strattera abuse potential trazodone pas cher italie no rx meds online levitra for sale canada viagra suppliers london buy generic zovirax ointment dilantin 50 mg tablet is advair diskus a prescription drug does aciphex cause weight gain paxil online buying overnight delivery flomax over the counter equivalent guna salep bactroban what does prinivil nolvadex shop buying serophene in manchester cheap allegra free delivery buy viagra sublingual online pharmacy where can i get viagra jelly pills deltasone pharmacy online florida skelaxin indocin 50 mg cap what is didronel tablets voltaren retard 100 mg+beipackzettel no prescription super active plus levitra online pill zithromax cost without insurance promethazine hydrochloride 25 mg recreational alli weight loss reviews 2012 nizagara pharmacy prices list best place to buy sinequan pharmacie cialis pas cher paris what is mobic pain medicine zyprexa price in india calcium carbonate canada overnight delivery donde comprar metformina en colombia is yasmin sold over the counter buy levitra tablets uk over the counter estrace cefixime suprax dosage sildenafil citrate powder sale order digoxin drugs mexican pharmacy no prescription mircette bupron sr tablets online albuterol inhalant does zoloft cause weight gain or weight loss discount minipress floxin dosage forms acheter du vrai viagra sur internet costo de januvia en mexico cheap rogaine 50 pills hair can you split topamax pills staxyn vardenafil hydrochloride cymbalta with no perscription ordering avapro here in canada what drug category is sinequan provera tablets 100mg torsemide low dose birth control aspirin for dogs buy cozaar over the counter amoxicillin clavulanate potassium 875 mg alcohol mail-order seroquel can you buy albendazole online what does ciplox do zofran on the internet baclofen overnight pharmacy ciprofloxacin side effects joint pain tadacip with prescription buy amoxil next day aleve reviews chloramphenicol over counter can you buy levitra plus in ireland 20mg 100mg wellbutrin sr generic equivalent ventolin online shipping valtrex overnight shipping cialis 2 5 mg costo in farmacia singulair medicine cost anacin usa american gyne-lotrimin periactin appetite stimulant toddler cialis south africa online accutane pharmacy assistance programs safe cordarone buy can you order estrace finpecia weight gain anyone taking phentermine and levothyroxine weight loss boots pharmacy opening hours ireland suhagra online price synthroid drugs online purchases generic name for diclofenac buy furosemide online australia dipyridamole mail order generic haldol uk paypal evista prescription online chloromycetin doctors online buy cheap diflucan online how long does it take for zofran to work for morning sickness buy cheap voltaren pills order uk doxycycline without usa buy finpecia without prescription buy elimite cream uk get topamax las vegas breakouts years after accutane geriforte syrup reviews cheapest place to buy alli weight loss pills purchase fml forte online methotrexate for psoriasis reviews zofran cost buy aristocort pills current price nolvadex price increase alesse buy acai paypal accepted other medicine like abilify prednisone 20 mg revista veja online finpecia tablets+side effects eulexin by mail dove posso acquistare kamagra in contrassegno post cycle therapy beconase aq zoloft dosage for anxiety lozol mist canada what is flonase nasal spray used for gyne-lotrimin to buy in england what does viagra sublingual side effects of levitra 10mg cheap citalopram free delivery what is clomiphene citrate clomid order erection packs 21 from what is the dosage of tetracycline for dogs antibiotics without prescriptions usa lisinopril tablet sale generic viagra 150 mg pills how to use erythromycin and benzoyl peroxide topical gel usp buy cardura 20 where can i buy provera in canada what is pariet medication nootropil online bestellen avodart maximum daily dose where to paroxetine pharmacy what is finasteride 5 mg list of tesco stores selling levitra professional viramune online usa no prescription buy tetracycline without a subscription levitra cost canadian strattera side effects in kids what is zyban dosage buying himcocid from canada no prescription propranolol hcl 40 mg tablet how to buy snovitra super power in london viagra vs. cialis which is cheaper where to buy celebrex online is pepcid ac better than zantac buy smart drugs online uk is it safe to buy birth control pills online mirtazapine and alcohol amitriptyline suppositories buy where can i buy phenergan meclizine medicine where cane i buy diflucan online albuterol sulfate inhalation aerosol purpose is generic cialis professional available in usa retino a cream for face clomid calculator ovulation calendar can maxalt get you high how to take clomid 50 mg pct dramamine 100mg buy capoten tablets 25mg can you order phenergan online canadian no prescription needed kamagra without kamagra chewable dosage too high best place to buy crestor in australia discount coupons for viagra buy lexapro online pharmacy can i get high off elavil tadalis sx coupon code where can i purchase geriforte tadalis sx 20mg tab frye boots promo code overseas pharmacy no prescription promethazine indian pharmacy council registration how to get zestoretic on line tadapox pills drugstore how to buy flonase buy compazine from india healthy bmi 15 year old male minocin billig kaufen order lipitor from uk without prescription benicar side effects anxiety purchase viagra online org from canada cialis puerto rico board of pharmacy license prednisone 5 mg tablet purchase valtrex on line in uk stent without plavix acai costa rica viagra cost per pill at walmart list discount medications walmart pariet western australia generic from luvox acne medication accutane wiki generic prednisone for sale on line best place to buy reglan buy cabgolin australia buy chloromycetin boots safe place order cabgolin cialis value packs how long does it take for zithromax to cure chlamydia legal to buy cabgolin risperdal consta new zealand can you get high off metoclopramide hydrochloride canadian alliance party policies buy cialis black online generic dostinex cabergoline when will there be a generic for levitra what class of drug is femara cytoxan from canada is clomid over the counter drug sildenafil citrate 100mg vimax viagra sublingual tablets price celebrex sales figures januvia purchase canada buy viagra jelly sachet ginseng without insurance wellbutrin 100 sr hcg clomid post cycle therapy buy gasex online from usa non prescription substitute for viagra buy premarin without prescription us can viagra be bought over the counter in the uk avapro in canada purchase allegra caverta discount buy viagra cheapest online buy exelon online no prescription us libido edge labs testosterone cream formula for men estrace generic reviews casodex online in usa buy eltroxin tablets abilify with prescription can you buy albendazole trusted paxil weight gain omega 3 mylan metformin 500 mg tablet paxil rxlist free coupon for dipyridamole vigra airport wiki low price retin-a 0,025 uk herbal equivalent propecia dramamine suppliers overseas suppliers of clonidine in us fluconazole tablet usp 100 mg/ml ampicillin recipe comprar amaryl pela internet aristocort italiano buy buspar with e check buy cabgolin singapore glaxosmithkline ventolin hfa coupons walgreens mail order pharmacy florida keftab for men sale in uk atorvastatin vs simvastatin dose american viagra online gasex himalaya where can i buy alli weight loss low cost does alli work prescription drugs online tenormin overnight delivery lloyds pharmacy online prescription purchase tadacip in usa most reliable place to buy elavil online raloxifene hydrochloride (evista) propranolol western australia low cost overnight calan lowest priced nizoral eurax delivery london kirkland minoxidil buy live fish walmart brand advair diskus perth australia over the counter cipro hc otic erythromycin and alcohol acivir pills phone orders levitra comp. bucodispersable 10 mg largest online pharmacy in canada trental medication uses generic propranolol er travel insurance costco non aspirin viagra ohne rezept bestellen per nachnahme purchase kamagra pills viagra prescription information claritin shop net mentax dosage instructions canadian healthcare online pharmacy complaints relafen not generic diclofenac birth control online us pharmacie de garde paris 15 buy brand advair diskus visa hydroxyzine dichlorhydrate wiki worldwide pharmacy venlor can order seroquel online side effects of dipyridamole tablets kwikmed review prednisone for dogs side effects diarrhea ciprofloxacin 500mg and alcohol renagel with american express qsymia online uk kamagra pharmacies what is rumalaya liniment pills used for topical zovirax for genital herpes pulmicort side effects in children behavior buy diarex next day what is fexofenadine hcl used for amoxil 250 mg tablets bactroban mail order do i need a prescription for ventolin australia canadian pharmacy phone number medication endep side effects cipro rx info how long does it take for metformin er to work generic emsam buy canada singulair dosage for kids free erectile dysfunction pills zenegra online usa pill rx health order retino products emt nitroglycerin dose buy lasix online from australia reviews of best online pharmacies bupropion pill shop discount code acheter lamictal zestril 40 mg tablet indian generic for viagra doxycycline used for acne treatment quibron-t italiano what are the side effects of the drug levaquin how much is lopid tablets cost of viagra sublingual without insurance elocon dosering levothroid from india come comprare cialis in italia cheap generic cialis tadalafil flagyl er capsules para que se usa el norvasc nolvadex better than clomid how much does a prescription of singulair cost viagra prescription online pharmacy all types of drugs in a list buy viagra super force online average cost generic zoloft what is baby aspirin good for can i buy a visa gift card online with paypal trental shoppers drug mart lisinopril 20 mg tablet lup clozaril prices the best fertility pills for women can benadryl get you high by snorting what does generic norvasc look like chloroquine without insurance buy online liposafe generic is there a generic cymbalta lisinopril 5 mg tablet side effects tetracycline for acne review best pills to get cut generic zestril overnite shipping proscar y propecia en mexico precio how long does it take for diovan hct to work aldactone usa sale hair loss after taking accutane zoloft without prescription medication xenical no prescription fedex ups aleve liquid gels reviews descargar el libro culturismo sin tonterias gratis phenergan ordering no prescription prilosec canada head office citalopram pills 20 mg prozac weight gain side effects half price stromectol post cycle therapy actoplus met zaditor phone orders viagra professional refill pack voltaren emulgel p cipla pharmaceutical indore norvasc brand positioning professional cialis online cheap nizoral 2 uk american brafix non generic atarax compazine max dose florida glucotrol xl ordering tenormin mexico cheap usa zyprexa online cozaar pharmacy coupons what is zocor purchase cardizem online no prescription lotrisone cream 45gm stats 19 form buy met rx protein powder why is nizoral so expensive now moduretic canada prescription singulair generic canada flovent mail order start allopurinol after gout attack viagra generic online canada generic hydrochlorothiazide 12.5 mg avodart ordering no prescription lantus insulin canada price ceftin mg canada canada drugs female viagra with prescription differin online pharmacy can you get high off bupropion 300 mg el padre chelo over counter levitra super active cialis price europe where to buy alli weight loss capsules what does propecia do to women kamagra offer albenza package insert buying diamox in manchester furosemide where to buy in canada kikisu pure chinese viagra cheap 1 pharmacy abilify generic flagyl er shortage what does a cialis tablet look like arava for dogs buy hyzaar ds vs hyzaar how to buy arimidex in london tadacip wikipedia buy feldene 100 piroxicam capsules cheap levitra canada mail order cialis super active buy elocon lotion no prescription zyvox 600 mg best price fast shipping prescription drugs in canada legal can you buy claritin d over counter tricor over counter uk ginseng pill shortage cheapest prometrium tablets uk generic from geriforte syrup ultra low dose moduretic paroxetine cr 12.5mg tablet viagra soft precio mexico side effects of testosterone therapy in children duphalac usa ketoconazole shampoo boots uk cialis super active discounts codes buy lamisil from canada lasuna generic reviews buy generic retin-a 0,025 online no prescription shuddha guggulu buy ceftin tablets avandamet refills buy erexor online reviews cheapest price for generic viagra cialis vente libre quebec insurance check cashing order singulair from canada brand aspirin for sale forzest western australia effects of viagra on men and women can you split bupropion tablets order cordarone online in usa cost of atacand 8mg tadacip online pharmacies with out prescription what all is benadryl used for generic for lamisil cheap combivent lexapro where to buy in canada what is motilium syrup used for indian delivery alesse next day max viagra pills suppliers of lariam in us avalide overnight delivery abb combiflex rx4 viagra with debit card hytrin with american express generic viagra names zovirax 100 mg estrofem 2 mg uk propecia costco canada citalopram buy online ireland buy ayurslim next day artane with no rx prandin annual sales low price hydrea uk buyers of geriforte canada cyklokapron medicine online buy tretinoin online no prescription cheap aciphex buy lipothin without a script chlamydia antibiotics can you drink alcohol can you get addicted to zofran gasex ingredients cleocin gel in the uk now canadian pharmacy online unisom non prescription ginette-35 actos canada sale discount code for pilex fluconazole buy paypal is generic betnovate available in usa biaxin without prescription overnight lithium tab evanescence artane where to purchase can aldactone cause weight loss buy bystolic online no prescription proair generic ventolin order prednisolone 5mg dogs bystolic tablets uk no prescription arimidex cheap uroxatral brand positioning shingles valacyclovir dosage desyrel drug oversea prozac and weight gain in children cloridrato sertralina pode ser usado emagrecer how much is phexin tablets is phenergan legal in uk florida quibron-t what is atacand side effects zocor online in usa buying proscar cheapest micardis tablets uk antibiotics alcohol myth how to buy zocor in canada dulcolax dosage rxlist nizagara tablets 100mg does nexium cause you gain weight cyklokapron online cheap buy albenza online pharmacy albendazole minomycin tablets side effects canadian pharmacy betapace benicar 40 mg pharmacy mevacor express canada nitroglycerin patch for achilles tendonitis snl flomax commercial estrace lawsuit discount female cialis craigslist new york city classifieds for jobs apartments personals acheter cialis montreal lexapro 10 mg wiki europe buy aciphex online cost of metformin 1000 mg studying clinical pharmacy in canada tadacip weekender tablets does benicar hct cause weight gain clomid online legally suhagra direct pharmacy neurontin uses medication buy alli online from australia decadron results forum hyzaar express canada diovan sale prescribed cialis sale ireland pharmacy taxonomies for primate order differing in replacement of tarsiers purchase prednisolone in us nolvadex drug class trial erection packs 1 overnight pharmacy acheter zyban en ligne retin-a ge buy canada online combivent india finasteride generico costo buy pariet online no prescription us genuine bactroban discount canadian pharmacy keflex for uti during pregnancy toradol best price how long to use ciprodex brand l-tryptophan buy hyaluronic acid oral dose arthritis is generic zantac safe during pregnancy original strattera online ordering flomax on line calan online sales max dose lamictal xr cytotec online price what is flagyl 400mg for metformin sky pharmacymexico do over the counter ed pills work what is lithium ion made of online pharmacy emsam sildenafil citrate 100 mg oral jelly the sons of sol pharmacy house dramacrazy buy cialis super active mg can you drink alcohol with fexofenadine xeloda patient forum where to buy cheap generic aldactone cymbalta canada head office cheap dapoxetine pills priligy tadalafil naturel glucophage without a prescription propranolol side effects long term use farmacie online md geriforte syrup prices usa long time side effects citalopram proventil without a prescription from uk etodolac drug class glucophage looking for zyloprim generico italiano prescription anti anxiety pills prometrium generic name purinethol usa 1 order acticin online pharmacy singulair barato to buy astelin nasal spray online betapace ordering no prescription cuando usar ahi o alli accutane 40 mg to 60 mg online pharmacy maxaman emsam buy canada health canada propecia best place buy acivir pills pct best online pharmacy technician school pharmacy mexico atarax cialis 5 mg side effects buy actos generic discount periactin online from uk generic lipitor wikipedia is lasix available over the counter generic risperdal paypal Purchase propecia 1mg online where purchase tenormin liquid retin-a 0,025 review phenergan generic promethazine pregnancy symptoms after taking clomid viagra sublingual usa sale canadian pharmacy 24h contact furosemide without rx levitra walmart pharmacy cheap generic himcocid best price for propecia lipitor canada purchase descargar gratis culturismo sin tonterias pdf cost of seroquel xl lamisil shop generic name for reglan where can i buy acai berry select in stores tadapox order by phone anacin shortage can you plus in ireland buy levitra online generic why has kamagra been discontinued how to buy viagra in the united states no place to buy alli diet pill where can i buy pyridium in canada omnicef dosage rxlist buy colchicine in mexico citalopram weight gain 10mg mexican pharmacy no prescription skelaxin pregnancy test calculator free where do chinese alligators live zyvox overnight shipping cheap tretinoin 0,025 order skelaxin drugs forum where to buy flonase generic prescription what is the drug classification for actos viagra swissmedic apo salvent buy mentat mg donde comprar hoodia gordonii colombia metformin hcl oral tablet 500 mg craigslist newcastle indiana sarafem by mail tulasi telugu movie online youtube cheap differin 0.3 side effects of phenytoin dilantin can include generic premarin 1.25 tenormin from canadian pharmacy buy genuine fluoxetine uk benfotiamine without insurance buy lotensin without a script pharmacy that sells prednisone lowest priced skelaxin where do i estrace in canada where can i buy alligators size clonidine dose for menopause tetracycline online with prescription buy lopid next day zoloft 50 mg tablets plendil medication dose amantadine prices at costco can you order dostinex doxycycl hyc acne review where to buy ginseng in london ventolin uk sale antivert medication dosage lisinopril hctz without rx adalat 20 mg xl how to get nexium for $18 a month buy cleocin gel for daily use purchasing betapace online uk buy bactrim online in usa where to buy lotensin with visa what is estrace cream dosage buy forzest online in usa para hyzaar forte generic cordarone paypal buy ranitidine online with mastercard can you buy atacand without perscription acquistare meclizine in italia worldwide pharmacy keflex maxalt from headaches treatment purchase generic viagra in canada himplasia discount voucher lipvas 40 mg acticin 100mg tablet sarafem spain can you get aricept over the counter where to buy unisom sleeptabs approved can you buy voltaren over the counter in nz unisom without prescription miami order glycomet online uk research grade prograf where to order actos online canadian pharmacy viagra over the counter walgreens pills prednisolone online mexico what is cefadroxil 500mg used for strattera fast mexico nexium 40 mg buy online lexapro buy online no script nizoral over the counter uk phenamax uk online seroquel online canadian pharmacy no prescription do i need a prescription for levaquin calan now co uk cheap differin gel order lipitor rx buy haldol with e check brand levitra reviews and dosage aciphex reviews for men how can i get off abilify buy cheap aldactone pills order tinidazole cheap yasmin birth control cost canada indian generics online vasodilan minocin delivery london i pill website lithium carbonate mgb zyban maximum dosage levitra vs. viagra effectiveness azulfidine buy canada online sale of rumalaya forte cialis professional rx etodolac recommended dosage is it illegal to order generic hyaluronic acid tetracycline acne nhs provera 20 mg three times daily buy amaryl online india levitra super active mail order finasteride drug card generic vardenafil reviews generic viagra overnight delivery online is propecia and finasteride the same thing procardia best price furosemide australia pharmacy diclofenac gel discount voucher buy diclofenac 80 mg online ethionamide to buy from europe order non generic bupron sr where can i buy alli diet pills renova rhinocort aqueous price prograf cost price benicar sales 2009 growing betnovate online overnight shipping keppra price order flagyl er pill erythromycin uses acne generic form of promethazine all types nootropil pills inderal shards of order metoclopramide echeck fosamax price canada india nitroglycerin price quinine poisoning from tonic water best place to buy viagra online in the us buy periactin paypal best site to buy kytril cheap long stay parking liverpool airport azithromycin alcohol caffeine sex pill for men last long sex metformin and alcohol pcos pcos clomid no ovulation famvir ships from india cheap calan blanes holiday safe buy aldactone online female viagra in indian market cialis at walmart pharmacy buy effexor xr online from usa amoxicillin drops no script fenazopiridina helicobacter pylori estradiol hemihydrate how to get seroflo drug maxaman tablets canadian pharmacy online viagra super active top drugstore makeup periactin online terramycin tablets us online canadian pharmacy + finasteride + "no prescription" ampicillin stock in ethanol januvia generic substitute where to buy propecia in canada safely non prescription gyne-lotrimin pharmacy best generic cialis forum azathioprine eczema children how to use metformin to get pregnant mexico diamox order cymbalta tablets ovulation predictor calculator with clomid buy pariet tablets us all types serpina pills diflucan for sale online levitra professional no prescription pill 5mg diclofenac gel australia pharmacy pill rx health sinequan products lowest price cozaar most common side effects of amitriptyline buy voltaren bulk 100 mg alli buy keflex no rx buy dramamine online reviews canadian pharmacy online no prescriptions depakote 100 mg saw palmetto canada head office us pharmacy online aristocort ginette-35 canada head office nizoral tablets purchase on line nexium online store diovan hct missed dose depo provera pills side effects can you take cialis jelly daily order strattera from buy generic lamisil tablets online no prescription cheapest levitra plus medicine cheapest nexium wiki orlistat weight loss results cheapest skelaxin to buy renova group russia alphagan for men sale in uk university puerto rico pharmacy program ampicillin 5mg tablets metformin hydrochloride 500mg tadalis sx buy on line indian generics online seroquel cheap viagra professional usa buy isotretinoin online no prescription buy eldepryl 50 beat way to order benzac zithromax shortage target com pharmacy list generic drugs artane 40mg aricept side effects paranoia best online pharmacy generic toradol brand levitra delivery discount bentyl can you drink alcohol with doxycycline tablets buy accutane online uk mastercard prevacid australia where can i purchase effexor xr late ovulation on clomid 3-7 exelon purchase john deere zocor prices costco can men take hydroxycut max for women plavix cost comparison generic no prescription needed allegra online himcolin for men sale in uk sale mestinon mentat ds syrup to buy from europe cheap requip 0.25 mg erythromycin stearate tablets 500mg spc overnight online nolvadex without clomifeno 50 mg prospecto viagra generic 2010 canadian pharmacy paroxetine drugs best generic indocin sites nootropil where can i buy it glyset from usa where can you get free samples of viagra cost of tamoxifen in india buy lipitor online with mastercard cystone maximum dosage red panax ginseng capsules prescription drugs pill identifier canada order mevacor cheap where to get suprax hydrochlorothiazide 25 mg tab periactin medication overnight delivery is zantac over the counter medicine ordering himcolin how atorvastatin is better than rosuvastatin super active baby cymbalta mg price zerit sale cheap elimite 100 mg korean panax ginseng pills buy hytrin without a prescription from canadian pharmacy walmart pharmacy drug list 2010 lipothin buy on line cabgolin pill shortage xalatan price comparison flagyl without prescription echeck buy paroxetine astrailia prevacid italiano flonase australia pharmacy ciplox pill shop discount code side effects of seroflo inhaler 125 purchase generic zestoretic can going off wellbutrin cause weight gain effexor xr mg no prescription watson generic wellbutrin xl buy rocaltrol pills online dipyridamole tablets online generic pills for trileptal uk drugs law oder mg tablets of motilium trental canada chloramphenicol 20mg tab lamisil canada over counter online pfizer pharmaceuticals kenya vacancies can you buy cleocin gel over the counter in germany lanoxin rxlist low price rogaine 2 uk generic suprax antibiotic side effects and adverse effects of lithium therapy apo-paroxetine 20mg side effects buy female cialis 5 generic artane safe liquid crestor review nombre generico del cialis blopress online price serophene tablets uses order tricor on line canada premarin cream dosage instructions hoodia discount medications zestril online forum lisinopril side effects after long term use best price for real coumadin buy brand advair diskus from mexico online buy vantin get viagra prescription doctor imitrex dosing for migraines ajanta pharma limited contact details good canadian pharmacy online topamax cost in canada ephedraxin discontinued zithromax online australia cheap himcocid free delivery buy diflucan with no script safe erythromycin buy brand prandin buy betnovate ingredients cream generic sinemet in usa alligator snapping turtle for sale california cilostazol pletal medication how to order celebrex online albendazole for children dosage metoclopramide complications zestril order online buy elimite 5 buy online tricor generic generic brand viagra for sale on line acheter pas cher buspar eldepryl pharmacy order trazodone women buy is alli diet pills discontinued dostinex composition atarax medication cost lamisil at 1 spray order celadrin tablets can you get levitra professional promethazine codeine cough syrup buy buy converse shoes online australia snovitra super power by mail cialis 40 mg reviews prescriptions buy alesse shipping available proscar 10 mg cost elavil generic wikipedia drugs buy avandamet online usa discount canadian pharmacy dipyridamole betnovate order canada atacand 8 mg in india finpecia cipla price india cabergoline mental tadapox canada head office buspar tablets buy best depression medicine to lose weight where can i buy dramamine in canada lithium overnight pharmacy zanaflex reviews and dosage atorlip-10 india us pharmacy online zithromax zyban pas cher italie water pills high blood pressure list xanax order online with no prescription how many moles of aspirin are in a tablet weighing 500 rm mg what does promethazine codeine feel like viagra jelly drugs protonix vs nexium cost levitra 20 mg online accutane canada sale ginette-35 canada prescription levothroid generic drug allegra over the counter generic order famvir prilosec 10 mg cost acheter du baclofene en belgique flagyl er online store best place to buy wellbutrin sr generic name of combivent plavix generic when available viagra 150mg online aldactone generic name can you buy zenegra in ireland decadron dose im viagra dose response what drug category is retino-a cream 0,025 where to get fluoxetine retin-a 0,05 from canadian pharmacy get accutane nhs elimite cream reviews norvasc annual sales ditropan sublingual dosage floxin delivery uk comprar sarafem original en madrid generic for diovan hct 160/12.5 buy brahmi tablets atenolol 25 mg informacion en espanol is endep a prescription drug acquisto capoten sicuro online online pharmacy lotrisone healthy peach mango smoothie recipe how long does it take for tegretol to get in your system baclofen birth control online canada vermox 100 buy anafranil 50 buy tamoxifen online no prescription uk what are the side effects of zestril drug pharmacy has best price glyset lowest price myambutol vermox plus bebidas alcoholicas nizagara online in canada lisinopril 10 mg tablet lup can you buy emsam over the counter rx pharmacy one reviews missed coumadin dose myambutol not generic atorvastatin generic lipitor side effects baclofen dosage hiccups buy vantin online Purchase abilify 6 pharmacy where to purchase capoten nitroglycerin comprar how to import chloramphenicol cefixime tablets usp monograph dipyridamole 75 mg tablet floxin generic 2013 drugs augmentin 1 gm prozac vs generic fluoxetine promethazine hcl 25mg side effects cam you buy coreg canadian is zerit legal in uk super active sale pill levitra cheap online cheap blue pills ordering voltaren gel buy metronidazole tinidazole amantadine next day buy ortho tri cyclen online no prescription canada name brand wellbutrin cost aurochem pharmaceuticals mumbai best medicine to take for back pain where to claritin cheap glucophage sr decadron drugs for sale atorlip-10 over counter uk pulmicort flexhaler 180 mcg price buy tamoxifen online pharmacy online motilium with no prescription where to buy allopurinol all rights canadian drug agency pharmacy that sells arimidex buy viagra plus greece lamisil price in india metoclopramide tablets pramin maximum lasix dose per day web doctor prescriptions buy actosol soil yasmin mogahed new zealand celexa medication order cheap effexor xr online i pill lipitor website drug atorvastatin when will allegra be available over the counter fda where can i buy acai berries in toronto price of minocycline without insurance azithromycin and pregnancy side effects buy lopid in ireland why is there a shortage of yagara generic seroquel names what is zetia for cabaser tablets femara com discount card unisom pill shortage dutas next day delivery antabuse online sales meclizine discontinued kamagra oral jelly without a script how to get a prescription for birth control pills online american kamagra oral jelly eritromicina mas alcohol line buy generic zyvox ginseng medicine lipitor generico italiano what is tetracycline hydrochloride ophthalmic ointment used for bactrim from europe birth control pills eldepryl florinef pharmacy prices list medrol generic release date does trazodone cause weight gain or loss buy sildenafil citrate paypal proscar 5 mg vs propecia speman billig kaufen yasmin pill new zealand levitra 20 mg directions coumadin for sale abana from usa canadian pharmacy accutane buy isotretinoin hoodia for daily use canada micardis by mail generic alesse online birth emsam bonus pills us online pharmacy no prescription lasix trileptal from usa co diovan novartis fast beconase aq delivery buy estrace in singapore long term use of keflex side effects keppra sales 2010 metronidazole flagyl forte 500 mg low cost kamagr and viagra receding hairline treatment finasteride donde comprar venlor glycomet best price donde comprar diltiazem etodolac 200 mg capsules online pharmacy medications physicians unisom 25 mg pregnancy what will happen when viagra goes generic strattera side effects sleep cefixime for sale uk buy viagra over counter tesco midamor echeck acquisto evecare sicuro online tamoxifen by mail cleocin coupons generic prozac online online pharmacy accutane no prescription isotretinoin kamagra 100 tablets what is digoxin level cheap phenamax no prescription where to buy amaryl ointment buying viagra in canada buy ampicillin uk save overnight Purchase actos 60 mg viagra sildenafil citrate online zoloft 100 mg street value albendazole tablet dosage acheter pas cher rumalaya forte what is amoxil for reglan uk online orlistat update july 2012 there generic clozaril viagra professional drug class cheap nexium qnexa online order augmentin online cheap flagyl and pregnancy second trimester walmart pharmacy prices list purchase sinequan mg after sex pill cvs coumadin price walmart best place to purchase cialis online can you buy quibron-t buy suhagra astrailia parlodel prices at costco losec capsules nz cipro drug store online buy actos 40 discount valtrex online free or low cost terramycin where can i purchase voveran possible side effects of testosterone therapy best generic combivent review buy cialis soft tabs online artane cheap uk adavan drug non perscription acquisto eldepryl sicuro online can bystolic pills be cut in half cialis professional non perscription countries mexican buy zofran buy liposafe discount rumalaya forte mail order india cafergot sale generico de atacand plus indian alliances pharmaceutical clozaril in usa buy cialis safely long term side effects of water pills z pack bronchitis contagious cialis hk azulfidine australia pharmacy buy tetracycline online price discounts donde comprar xenical argentina paxil 20 mg high can you buy aricept buy avapro mg diamox supplier in uk watch adalat online sony tv non prescription nolvadex pharmacy wellbutrin generic use keftab coupon online can youtube buy cialis soft in ireland canadian canigetviagraindibai is armour better than synthroid toradol dose iv pediatric cost of requip recommend the use of generics viagra drugs purchase dipyridamole on line in canada tretinoin 0,05 lawsuit cozaar 10 mg purchase cialis professional in us what does artane all types amantadine pills fda zofran pregnancy research grade extendaquin effects of female taking viagra where to buy revatio mg adderall weight loss reviews buy imitrex online reviews cheap omnicef usa azulfidine rxlist propranolol for migraines in children cheap glasses without prescriptions avodart drug in mexico pharmacy order generic atacand where to buy trimox drugs online buy clozaril tablets side effects of allegra cytoxan shipping overseas reglan online in us parlodel drug information order furosemide no prescription i pill avapro website buy cefixime for gonorrhea online trandate tablets pregnancy usa today celexa buy doxycycline usa generic apcalis sx no prescription malaria lariam tablets side effects colchicine suppositories buy buy over the counter zofran online buy allopurinol singapore keflex prices antabuse canadian source como comprar cialis professional tegretol tablets on line to buy dramamine brand order cheap propranolol buy online lopid pas cher zithromax z-pak oral buspar doctors online cost of wild ginseng comprar norvasc en argentina purchase children;s motrin can i buy betnovate cream over the counter estrace online ordering order alli in canada where to get silagra pct what is acticin ou acheter levitra sans ordonnance aristocort forte injection mail order generic amoxil anastrozole 1 mg for men side effects of combivent inh what is premarin cream used for nifedipine extended release tablets spc free cialis sample where to purchase speman keppra xr brand vs generic mexico coupon order cafergot prazosin to buy in england generic of protonix acid ppi finpecia medicine online can i get nolvadex from my doctor foods to avoid while on coumadin medicine bentyl for sale australia singulair over the counter or prescription lanoxin for sale online non generic brand cialis finpecia purchase in canada no prescription confessions of a viagra salesman acquistare tetracycline in italia zebeta suppliers overseas how to order nolvadex what is an example of alliteration in poetry non prescription celebrex nsaids citalopram lawsuit bactrim ds australia free coupon for eulexin is it safe to order elimite allopurinol for sale philippines discount prescriptions walgreens safe place order abilify how to buy nizoral 2 over the counter avalide mg hydrochlorothiazide plavix from canada pharmacy cheapest nolvadex forum cheapest place to buy lantus insulin online drugs prednisone flovent for sale online lisinopril 100mg tablet phenergan now co uk most prescribed medication for anxiety buy flovent perth australia lisinopril generic or brand duetact for sale etodolac medication where to buy ophthacare perth australia fluoxetine online pay paypal how to get hydrea in australia how much is topamax without insurance at walmart
Sunday, December 21, 2014
   
Text Size

Search our Site or Google

Silver: It’s All About Inventories

Articles & Blogs - Silver Commentary

User Rating: / 49
PoorBest 

While I have long since given up the “hunt” for intelligent analysis from the mainstream media on the silver sector, I have also become somewhat frustrated with much of the commentary I’ve seen from the more reliable/better informed commentators within the silver sector. Two “camps” seem to have emerged, separated by what I can only describe as a logical disconnect.

On the one hand, we have a group of very vigilant and bullish commentators who are squarely focused on the melodrama of ‘evaporating’ inventories now taking place in the Comex exchange (and any/every other warehouse where significant amounts of silver can still be found). Their reporting, while insightful, is almost surreal.

They are essentially engaged in a “countdown” until some “default” event occurs in the silver market, something these commentators look forward to with extreme anticipation, as to them this would signify “the end” of the silver-manipulation game the bullion-banks have been playing for the last 30 years (and actually much longer). Conversely, since such a default event directly implies the financial disintegration of the ‘monster’ silver-short, JP Morgan, I have much more “mixed feelings” about what such an event portends.

Living in the age of “too big to fail” banking Oligarchs, it is obviously naïve in the extreme to expect either JP Morgan or its servants who run the U.S. government to simply allow this bankster to be vaporized by the implosion of the silver market. Such an event would require settlement of its $100’s of billions ($trillions?) in losses on its gigantic, silver “short” position and its much larger losses on its silver derivatives – which it used to ratchet-up its suicidal leverage still further.

A much more realistic scenario is that when there is a default at the corrupt Comex exchange that the crooked operators of that market will simply suspend all trading in the silver market until the “disruptions” in the silver market have been resolved. Translation: the Comex will simply cease to honour/enforce any of its legally-binding contracts until after JP Morgan has found some way to weasel-out of its own annihilation.

Having spent countless hours studying this “equation”, I have concluded that there is no plausible way for JP Morgan to extricate itself from its self-created financial suicide other than through the U.S. government once again confiscating the silver held by its own citizens (as it did in the 1930’s). Given the magnitude of the silver-losses being hidden by the criminal-shorts, it is very unlikely that U.S. silver-confiscation alone would be sufficient to rescue all of the banking Oligarchs who have taken part in this manipulative shorting. Thus, we could easily see concurrent “confiscation” schemes in many/most/all Western nations.

Let me qualify that comment by noting that at this point “confiscation” would start (and likely end?) with all of the “bullion” held in bullion-ETF’s or bullion “accounts” – which were based in jurisdictions taking part in confiscation. The vast majority of personal bullion holdings are contained in this form and can be seized (literally) through nothing more than the click of a mouse.

It is highly unlikely that our governments have any appetite for smashing down doors and directly seizing bullion by force. First of all this would require a massive expenditure of resources (and extremely bad “optics” for our fascist governments), for a limited yield of bullion. Secondly, especially in the U.S., many of the same people stashing significant quantities of physical silver are also stashing significant amounts of guns and ammunition. They would not get much of this silver without (literally) a fight. Most likely, our governments would not go beyond the mouse-click – which also explains why the propaganda-machine has done its best to “herd” bullion investors into the large bullion-ETF’s.

Meanwhile, at the same time as all of this is occurring, we see an equally surreal discussion taking place in the silver sector regarding price. We have earnest, and in many cases very astute writers talking about “rising demand” and somewhat stagnant mine-supply, and then rather timidly assert that it was their opinion that silver prices “should” move higher. Even the highly esteemed Eric Sprott fell into this mental trap of understating the dynamics of the silver market.

In a very detailed and well-reasoned analysis – which even covered some of the inventory parameters – Sprott concluded:

In our view whatever froth and excess was present in the paper markets [the Comex] has likely been shaken out in the recent sell-off.”

His conclusions were pock-marked with qualifiers that something “seemed” a certain way in the silver market, and it was “their view” that fundamentals remained bullish. This is unnecessarily timid. Commentators in this sector can be unequivocal because the parameters are unequivocal: silver inventories are depleted; silver stockpiles all-but-gone. As the title to this piece exclaims, “it’s all about inventories”.

In the supply/demand equation, it is inventories which always “trump” all other factors in analysis – any and every time they move toward one extreme or the other. If inventories are large-and-rising, prices will fall irrespective of whatever data is presented exhibiting “bullish” factors for either supply or demand.

Those who are actual “producers” or “consumers” in a particular market have a fixed amount of physical space in which to store inventories. As that space fills up, these players will inevitably use the only “corrective” tool at their disposal: pushing prices lower and lower until the build-up ends.

At the same time, “traders” know that you don’t make money holding onto any commodity which is abundant (and becoming more so). You make money by either being one of the first to jump into a market of scarce supply/inventories, or you short the markets where supply has become abundant. Inevitably, the traders will also push prices down until the inventory-glut abates.

Obviously the reverse dynamic must be equally true: if inventories are small-and-falling, prices must rise irrespective of any other supply/demand data. Those who are actual producers/consumers in the market will become alarmed as their inventories plunge to “dangerous” levels, and they will inevitably push up prices until the inventory-erosion stops.

Similarly, traders will not only gravitate into sectors with scarce supply, they will increase their bets, knowing that the only possible way to reverse a dynamic of small-and-falling inventories is with much higher prices.

Let me digress for a moment to point out how the propaganda-machine (i.e. the mainstream media) refers to such behavior as “speculation” and/or “hoarding” – and demonizes all such investors. I have addressed this absurd propaganda before. First, buying into a market of small-and-falling inventories is (by definition) not “speculation” – since as I have already asserted, it is a certainty that prices must rise.

Secondly, a much better word to use instead of “hoarding” is “conserving”. Those people who stock-up on a particular commodity in times of small-and-falling inventories are healing the market. Not only are they conserving scarce inventories in order to prevent 100% depletion (the worst form of systemic shock for a market), but they are causing the higher prices which are necessary to reverse the dynamics from inventory-depletion to inventory build-up.

Higher prices simultaneously discourage demand, while stimulating supply – inevitably leading toward equilibrium. I have illustrated this obvious dynamic before using chocolate bars as an example, but let me expand on the implications still further.

As I have pointed out, if we were to suddenly price chocolate bars at 10 cents apiece (the price I paid as a child), store shelves would be cleaned-out of chocolate bars within days (hours?). Of equal importance, as long as the price of chocolate bars remained at 10 cents, inventories would remain permanently depleted.

The moment that more “supply” hit store shelves it would be instantly consumed by those lining up to buy. Effectively there would be “infinite” demand for chocolate bars at 10 cents apiece. However, I didn’t mention the chocolate bar producers in my previous example.

To begin with, it’s unlikely that they could “break even” selling chocolate bars at 10 cents apiece.  They would be forced to cease production, making the supply-crisis even worse. Meanwhile, those producers who could manufacture chocolate bars for 10 cents apiece and remain in business would look at the empty store shelves and tell themselves that chocolate bars must be worth more than their current price.

They would simply refuse to sell at a price which obviously does not represent any sort of market “equilibrium”. Thus, as long as chocolate bars remained at 10 cents we would have a permanently dysfunctional market of near-infinite demand, restricted supply – and no inventories.

Naturally this hypothetical example applies to the real-life silver market perfectly. In the 1990’s, bankster-manipulation pushed the price of silver to a 600-year low (in real dollars)  - every bit as absurd as buying chocolate bars at 10 cents apiece today.


We see those nations with Mints, that still produce silver money for their citizens permanently struggling to keep up with demand, and their inventories are frequently near-zero. And this is occurring despite these Mints raising their premiums – essentially a “tax” being imposed only upon the buyers of this form of real silver. Even with that tax, at the current, totally absurd price for silver they are unable to keep any inventory on their own “shelves”.

Just as in the hypothetical example with the chocolate bars, the current situation of small-but-falling inventories and empty “store shelves” must result in much higher prices for silver. Period. However, while higher prices are a certainty, “time” continues to remain a variable.

As an investor, I am more than willing to accept the uncertainty of time, when I already have the certainty of outcome (i.e. higher prices). I am especially eager to do so because I understand the dynamics of supply and demand. The longer the price of silver is suppressed to some level ridiculously out-of-sync with supply and demand (as proven by our depleted inventories), the higher the long-term equilibrium price.

Had silver been allowed to rise to $50/oz ten years ago, it is highly likely (if not certain) that this could have represented a long-term equilibrium for the market. However, thanks to another decade of illegal bankster-shorting ravaging silver stockpiles, it is now a certainty that any “long-term equilibrium” for silver would involve a price well into three-digits. Naturally, these supply/demand fundamentals are being multiplied by the currency-dilution (i.e. inflation) caused by the out-of-control money-printing by that same cabal of bankers.

The absolute “laws” involving inventories in markets are just as immutable as the Law of Gravity in physics. In physics, we know with certainty that “what goes up must come down”. In markets we know with certainty that when inventories go down, prices go up.

It is very rare to have an investment-insurance opportunity which offers such 100% certainty. Given the unfolding economic catastrophe created by the Western banker Oligarchs (and the politicians whom serve them), ordinary people have never needed such “insurance” so badly. Don’t miss your opportunity.

Trackback(0)
Comments (20)Add Comment
Jeff Nielson
...
written by Jeff Nielson, July 27, 2011
BobB, we don't shy away from peoples' questions around here. So when people have concerns or simply don't entirely understand a scenario, we're happy to try to clarify things.

I also personally believe that if I'm making statements which can/do have a DIRECT impact on peoples' investment decisions that I have a certain amount of "obligation" in taking the time to clarify issues. Glad I was able to help here.
bobbybarr
...
written by bobbybarr, July 27, 2011
Jeff,

OK, I went out and dug a little further and found some info reflecting your portrayal of "The Scam". I had only seen what I pasted into my last comment and that didn't seem too terribly "evil". If a Tax Credit scam is what is really going on then there is GREAT reason to be concerned and I will definitely take immediate action to remove my $ from Kitco's clutches.

Thanks, BobB
Jeff Nielson
...
written by Jeff Nielson, July 27, 2011
BobB, if my comments seemed overly flippant I apologize. The one problem with having a discussion in a "comments" section is that it's not as easy to deal with detailed subject matter. I'll certainly be more methodical this time.

First of all, regarding any/all bullion-ETF's and any/all bullion "accounts", those would undoubtedly be the FIRST bullion seized in any confiscation - "point-and-click" and it's gone. And that's why IF the propaganda-machine ever says anything NICE about gold or silver they IMMEDIATELY point at the bullion-ETF's.

Regarding Kitco, being a law school graduate, I consider myself reasonably adept at spotting "clues" with respect to legal matters. There are TWO clues which have caused me to suspect that Kitco's position is dire:

1) The "strong language" used by the government in announcing its enforcement operation.

2) The ENORMOUS sums of money being discussed in this prosecution. Note that this is a TAX-CREDIT scam which netted $millions upon $millions in proceeds.

Understand what that implies: $BILLIONS in (phony) underlying transactions which would then GENERATE claims for these bogus tax-credits. As I understand it, this ALL took place WITHIN the province of Quebec.

Thus, here is how the scam appears to me. "Someone" decided that two branch's of Quebec's tax authority NEVER "communicated" to each other - and thus they could produce (relatively) INFINITE quantities of these phony transactions and never get caught.

However the scam got so large that the PHONY transactions eventually DWARFED the legitimate ones, to the point that the government saw an EXPLOSION in what it was paying-out on these tax credits. In other words, the sheer SIZE of the scam is what gave it away - and the government (at this point) is 100% adamant that this "paper trail" leads to Kitco.

If you don't find this disturbing enough to seek alternate arrangements for your bullion holdings, then obviously that is only your decision to make. However, I certainly never (needlessly) "scare" people here. When I "warn" someone about a particular risk/danger, I would like to think I do so only after careful consideration.
bobbybarr
...
written by bobbybarr, July 27, 2011
Jeff,

I was somewhat surprised by the strong reaction to my earlier comment/questions. I decided to do some checking on my own. It seems that an article in the Vancouver Sun is what got the ball rolling. The language in the article is a bit inflammatory in my opinion -- written to propagandize more than inform. There are also dozens of sites/forums where the article has been posted or linked. What was interesting/concerning is that some of the commentors have managed to morph Revenu Québec into Revenue Canada -- a much bigger fish!

I went to the company's website so see what they were saying and found their initial press release in response to the RQ actions. I have pasted an excerpt from that document below.

"Kitco buys precious metals scrap and pays the suppliers' sales taxes on these purchases for which Kitco receives a tax credit. It is the responsibility of these suppliers to pay back the sales taxes to Revenu Québec. Revenu Québec alleges that some of these suppliers have not
remitted the taxes paid to them. Revenu Québec is unjustly holding Kitco responsible for the unremitted taxes, which led to the issuance of the tax assessments."

This is their statement of the facts. I have operated businesses in the past and am aware of how this situation can occur. I'm sorry, but by default I am on what ever side is NOT the side of the Taxing Authority! What is happening to Kitco could be done to any of the metal/coin dealers out there. If the Taxing Authority so decides, they can create regulations on a whim that make the dealer fiscally responsible for any taxes that they, The Authorities, feel that the "anonymous" buyers owe but do not pay to the Authority. Eg. Capital gains, Income, etc.

I am interested in knowing the facts, and, like you, I like to share what I know. I AM a customer at Kitco, but I am NOT a shareholder so please don't set me on fire!

BTW, I notice that you didn't say anything about my other question: "Do you think "pool accounts" will be targeted for confiscation?" Perhaps it is a moot question in light of your previous answer?
BobB
Jeff Nielson
...
written by Jeff Nielson, July 26, 2011
BobB, the phrase "unallocated account" is a synonym for "scam". You give someone money. They make a BOOKKEEPING ENTRY that you have "gold" (or "silver").

They SOMETIMES even charge people a "storage fee" for this bookkeeping entry. However, the companies offering such accounts are NOT required to actually hold the metal on your behalf - and so they DON'T. If (at some point) you want to pay the ADDITIONAL fees to "take delivery" of metal, or to create an "allocated account", then the company "holding" your gold will actually try to find some metal for you.

As for Kitco, hopefully you are aware they were forced into "creditor protection" as they are facing $MILLIONS in potential liability - as part of the accusations of CRIMINAL FRAUD which have been made against them.

This is NOT a company with which ANYONE would want to hold an "unallocated account", and I would NOT dare to even have an "allocated account" with them, as that would NOT necessarily be enough to protect YOUR gold if they are forced into formal bankruptcy.
bobbybarr
...
written by bobbybarr, July 25, 2011
Jeff, can you comment on the pros/cons of bullion investments such as 'Unallocated Pool Accounts' like those offered by Kitco? a) Are they safe and b) Do you think they would be targets for confiscation?
BobB
Jeff Nielson
...
written by Jeff Nielson, July 22, 2011
Scobes9999, the FIRST thing that we Canadians would be worrying about if (when) U.S. silver confiscation takes place is whether our eager-to-please-the-U.S. Prime Minister would do the SAME thing to Canadians.

If we are spared from that fate, then "confiscation" can only be viewed as a "bullish" move for the sector - especially when much of what was confiscated would be IMMEDIATELY used to cover the "short" obligations of JP Morgan, HSBC, and other banksters.

The only way there would be a different "Canadian" price would be if a "blackmarket" for silver arose, where silver-starved Americans would come across the border (or maybe "smugglers" would bring the silver to the U.S.) and then Americans could surreptiously buy silver (at a "blackmarket" premium) and then hold it with relative safety - since AFTER U.S. confiscation had been completed, there would be no reason for any further "seizure" machinery to be employed.

I'm still hopeful that BECAUSE most of the "official" private holdings of silver (and gold) are in "ETF" or "account" form that there would be no door-to-door seizures of bullion - since they would be deemed "not worth it" for the SMALL amount of bullion and LARGE amount of hostility such actions would produce.
scobes9999
...
written by scobes9999, July 22, 2011
Hey Jeff,

In the event of a US silver confiscation, what affects would that have on the silver price for Canadians?
Jeff Nielson
...
written by Jeff Nielson, July 07, 2011
Zoooey, it's never a bad bet to quote Ted Butler when it comes to silver. However, I have to admit that I have some problem understanding these dynamics.

On the one hand, when the shorts have pulled-back like this, you could argue there is an "expectation" on their part of a massive rise coming - and so they don't want to be sitting "fully invested" on the short side when that happens.

On the other hand, you could argue that when the short position is at its MAXIMUM that this is when the shorts are MOST over-extended - thus creating a large possibility of forcing some short-covering in a RISING market, leading to even HIGHER prices.

However, I'm quite happy to defer to Ted in this instance, since I'm certainly expecting a big "fall rally" myself - which could start as soon as two or three weeks from now.
zooey
...
written by zooey, July 07, 2011
To quote Ted Butler:

""If there is one word to describe the changes in this week’s COT for gold and silver, it is spectacular. Make that two words, spectacularly bullish. Rarely do we see the reductions in speculative long/commercial short positions witnessed this week. The total commercial net short position was reduced by 6,400 contracts in silver and by 42,500 in gold. Even for someone who believes (me) that the commercials control and manipulate the price of both silver and gold, I stand somewhat in awe of how brazenly and collusively the commercials pulled off this recent sell-off rig job. I don’t use the word collusively loosely. In both gold and silver, all the commercial categories, the big 4, the big 5 thru 8, and the raptors, seemed to divide evenly the speculative selling they were able to induce. I don’t know how that could be accomplished so efficiently without collusion."

"In silver, the total commercial short position dropped to 29,200 contracts, the lowest level since April 2009, when silver traded at $12. The big 4 shorts (JPMorgan) bought back more than 2,200 short contracts, reducing that concentrated short position to the lowest level since October 2006, when silver traded at $11. The raptors (the smaller commercials apart from the big smilies/cool.gif bought 3,400 of the 6,400 commercial contracts bought during the reporting week, increasing their net long position to 12,400, their largest since last November. The 5 thru 8 largest commercial shorts bought the balance, reducing their net short position to among the lowest in years. The obvious takeaway here (aside from all the commercials behaving collusively) is that the commercials are all buying because they expect the price of silver to be higher in time. That’s what you should expect as well."

"As painful as these deliberate sell-offs may be, they are also setting the stage for a rally of monumental proportions in silver. That’s the essence of the COT. I make a point of telling you what the price of silver was the last time the short position was as low as it is now because I believe you should look at silver as if it is $11 or $12. The beauty of the COT is that it does not consider price; all it is concerned with is structure. If the structure indicates a large speculative long/commercial short position, then the danger of a significant sell-off looms large. If there is a small historical speculative long/commercial short position, a large price rally would seem to be in the cards. Currently, there is a small historical speculative long/commercial short silver position."

If the writing is on the wall then it is a play for time. Another price run-up; this time maybe higher; then crash the market again.

I have wondered for a few years about the "rescue" of Novagold in 2008? when payments were due and the bankers avoided the miners. In comes Paulson and provides long term financing. Now Nova shares the 30+million oz. resource with Barrick in Alaska. My thought is that to own the gold in the ground; to own as much as possible above ground. To corner as much as can be cornered. Anywhere in the supply chain. This is obvious.

Crash the markets one more time (at least); buy shares for nothing; buy physical from weak hands and day traders. Short the juniors. Cover what you can at Comex. Comex can always suspend trading; force cash settlements; SLV will be gone.

These folks have no reason to fear any real legal consequences. They already know that from the last bailout.

The end game has always been to have as much of the gold and silver as they possibly can.

I read today speculation on the Rothschild gold holdings here:

http://www.dgcmagazine.com/blog/index.php/2008/08/25/gold-and-the-house-of-rothschild/.

The unlimited downside to a default at Comex can be looked after through politics. No harm done; as the blogs say "nothing to see here, move along".

What matters is who has the most when the music stops. Just a thought.
Jeff Nielson
...
written by Jeff Nielson, July 07, 2011
Thanks Earl.

I'm concerned that many people still seem to view the "confiscation" warning as more rhetoric than "threat". I would be happy to pull-back from such a prediction IF someone can provide me with ANOTHER plausible explanation for what SEEMS to be totally suicidal behavior by JP Morgan and the other silver-shorts.

I believe the banksters capable of many sorts of mistakes and folly, but destroying THEMSELVES in such an OBVIOUS manner does not seem consistent with their behavior pattern.
Earl
...
written by Earl, July 06, 2011
Jeff,

You explain (and a recent post bye "SilverCaper") the "paper manipulation" very well. The statistic reality of more paper silver than real/actual silver and how it's traded at volumes that are not real.

Thus, I'd suggest to any and everyone to think about the real threat of "confiscation".

You've stated in reality, how easy "confiscation" could happen. I've found
the BBC video archives a real help in understanding, the reality.


Here's to a brighter tomorrow and planning for a rainey day.

Thank You
Earl
Jeff Nielson
...
written by Jeff Nielson, July 06, 2011
I hope you're right!
zooey
...
written by zooey, July 06, 2011
What you say is true of course. Harper is dangerous. Why the Canadian people cannot see this is beyond me. However I still cannot see the government, majority or not, getting any confiscation of PM's by the public or parliament. I hold out a bit of hope that the mining "lobby" in Canada; that Mr. Sprott; that CEF; that bullion holding mutuals have clout. That we still have a few less dishonest political creatures.

It is a hard and long read to get through the "Silver Stealers". I am still working on wading my way through this. Seems everyhere I dig for information the "plots" and theft just become more mind-numbing.

My hope is that the Chinese and Indian nations retain an awareness of what occured in the past. I am slightly optimistic about the future of China-Russia-India-Asian economic agreements. I am optimistic that the Pan Asian Exchange will force some transperency and real price discovery into these markets.

While I think it best to have physical bullion in hand; and I think it is common knowledge that both SLV and GLD are fraudulent; I still see it as far less likely that any confiscation would extend to the Canadian PM funds; to the allocated bullion stored at Canada Mint etc. to goldmoney and other Off-shore holding set-ups. Outrageous taxation maybe; direct theft from Canadian people I doubt.

While Harper is plainly, IMO, without integrity; I still think Canada would not follow the US/Britain into outright "confiscation".

Or so I hope. I would be tempted to become violent if theft of my future was the case.
Jeff Nielson
...
written by Jeff Nielson, July 06, 2011
Zooey, I will certainly agree with you that the probability of confiscation is LOWER in Canada than in the U.S. However, as for the "political will" to do such a thing, now that Harper has his precious "majority" I think you will be SURPRISED at the things he now has "the political will" to carry out.

Keep in mind that if (when) the U.S. confiscates silver that this will be VERY unpopular to anyone/everyone connected to this sector. Thus the U.S. NEEDS other nations to JOIN IT in silver confiscation - in order to provide some "political cover" for the U.S. government.

In other words, it will be easier for the U.S. propaganda-machine to "justify" silver confiscation if ALL (or at least MOST) Western governments participate.
zooey
...
written by zooey, July 06, 2011
I cannot see large scale confiscation in Canada. The CEF fund has a long history. It was formed long before precious metals became fashionable to even a small group of investors. The Sprott funds, even though recent, I think are safe vehicles. I do not see the political will in Canada to even go down this road.

The US is a different story.
Jeff Nielson
...
written by Jeff Nielson, July 05, 2011
No, DGierl, BOTH gold and silver were confiscated by the U.S. government in the 1930's, in fact I included a link inside the article which leads directly to that piece of U.S. legislation.

The only reason that hardly ANYONE knows about "silver confiscation" is because the banksters had it ERASED from our history books. It is SILVER even more than gold that the banksters fear - and thus they were VERY interested in re-writing "history" concerning silver.

They ERASED all mention of silver confiscation. They ERASED all mention of the REAL cause of The Great Depression: when the banksters DESTROYED the economies of China and India by LOOTING all of India's silver and DUMPING it onto the global market.

Then AFTER that, they "invented" a new "gold/silver ratio": 50:1 instead of the REAL ratio of 15:1, and they simply had their media parrots keep repeating the phony, "new" ratio until it was treated as fact.
Jeff Nielson
...
written by Jeff Nielson, July 05, 2011
Abperusdisvet, first this is a VERY long-term parameter. Second, you're assuming that silver recycling will NOT increase significantly, and thirdly it is pushing prices in the SAME direction as inventories.

We will never "run out" of silver (completely, forever) anymore than we could "run out" of gold. At some point at or above $100/oz silver recycling will become much more ECONOMICAL and thus much more intense. So increased, recycling and MUCH higher prices will eventually bring "equilibrium" back to this market - and such equilibrium will be DEFINED by a return to somewhat normal INVENTORIES.
dgierl
...
written by dgierl, July 05, 2011
Silver was not confiscated in the US in 1933, only gold. Silver has been in our circulating coinage until 1965.
apberusdisvet
...
written by apberusdisvet, July 05, 2011
Jeff: in the most recent reports of both the USGS and the Silver Institute, it is estimated that the mineable/recoverable worldwide silver resource is approximately 500,000 Mt, with annual demand for both industry and investment at 25,000 Mt. This would indicate that within 20 years all the mineable/recoverable silver will be gone, unless of course there is technology existent to profitably mine the oceans (or some other planet).

Does not this scarcity and "endangered" nature of silver automatically trump all other analysis?

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.

busy

Latest Commentary

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Latest Comments

Disclaimer:

BullionBullsCanada.com is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.

Login Form