Michael C. Ruppert on China & silver shortage ...
April 25, 2011, 8:00 PDT -- SEBASTOPOL -- APMEX, the American Precious Metals Exchange, has initiated reverse inquiries to all of its precious metal buyers offering to buy back silver and gold at above spot price. This means one of two things. Either APMEX is desperate to cover short positions or to conceal the fact that it has no physical metal to deliver.
This is a big market move and a signal that APMEX and many others see Fukushima's impact on the global economy, our civilization, and the Old Paradigm. Put another way, they see pm's going absurdly hot very shortly which is exactly what I have written about consistently for over a decade. This fits with my analysis predicting immediate (there is no better term) apocalyptic events. Having left a record of maybe three million words I have never used that word before.
What I have said consistently in many university lectures in seven countries over nine years is that we will certainly see $2,000, $5,000 and maybe even $10,000 gold. And in the same breath I usually shuddered and said, "But when that happens we will not recognize the world we live in anymore."
A great many people have criticized the fact that I had predicted $2,000 gold by the end of last year. (Ted Williams only had to bat .400 to be the best in baseball. Did major league pitchers stop fearing him when he struck out?) Well, if we see $2,000 gold in May then I missed it by five months... I also missed the 2008 crash by about a year and a half. The film "Collapse" by Chris Smith was a success because of the fact that I so accurately predicted the events... not because I missed that date. The most important thing I got absolutely right was that $2,000 gold was actually coming. That was and remains the essential point here. Few believed me when I first said that gold might break $500 in 2001... My guess is that silver may well blast through $100.
This is assuredly connected to China's official announcement that it intends to sell $2 Trillion of USD holdings [see the April 24th story below]. And why might China be deciding to dump now?... A caveman could see that -- come July -- the markets are toast, nobody will be able to afford oil, the derivatives will implode, more than a billion people will not have enough money to eat and -- as I said in "Collapse" -- "Everything will just shut down".