INVESTMENT RARITIES INCORPORATED
was founded in 1974 by Jim Cook, and has since grown to be one of the nation’s leading silver and gold dealers. In the 48 years of service, IRI has logged 400,000 transactions for 60,000 customers equaling $3 billion sold and delivered.
From the desk of Jim Cook
Crack-Up Boom
Years ago, I first read the term “crack-up boom” in an essay by the brilliant Austrian School economist Ludwig von Mises. The crack-up boom happens when inflation becomes so bad in a country that the populace will no longer hold onto the currency. They will spend it as fast as they get it because of its rapid depreciation. An actual crack-up boom took place in 1921 in Germany. Inflation kept worsening until the currency became worthless. READ MORE
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INSIGHTS from TED BUTLER
Bonfire of the Silver Shorts
After 40 years of silver price manipulation and suppression on the COMEX, the physical market has experienced a lack of production growth and enhanced demand brought about by too-low silver prices. According to the immutable law of supply and demand, silver is now in a deepening physical shortage in which sharply higher prices are both required and inevitable. The key element that I speak of today is the likely behavior of the short sellers of silver derivatives. Investors hold 2 billion ounces of silver in industry-standard 1,000-ounce bars and a similar quantity in smaller bars and coins. Since these holdings are owned outright, there is no short position as exists in every derivatives contract, including COMEX futures and options and OTC swap contracts. READ MORE
