Jim’s Mailbox

Posted at 11:01 AM (CST) by & filed under Jim's Mailbox.

From our friend CIGA Chuck.

Bill

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Does this give you a warm and fuzzy feeling?

Courtesy of JB.

Bill

U.S. Stock Clearinghouse Suspends Certificate Repatriation
April 2, 2020

Dear Friend of GATA and Gold:

The Depository Trust & Clearing Corp., which stores most stock certificates and settles most securities transactions in the United States, has suspended all securities repatriation services since March 23 and announced on March 28 that these services will remain suspended until at least April 6. The suspension was attributed to difficulties arising from the virus epidemic sweeping the world.

So anyone who wants to take possession of stock certificates or transfer them to the possession of someone else is out of luck for the time being.

This is a situation that gold advocate and mining entrepreneur Jim Sinclair of JSMineset.com often warned against years ago.

The DTCC says all the rest of its services remain operational, though in recent years some investors and corporate officials have complained that those services include facilitating naked short selling.

More…

40% of global production? COMEX would have you believe this is bearish for silver?

Courtesy of GG.

Bill

GLOBAL SILVER SUPPLY COLLAPSE ON ITS WAY: Mexico Mining Suspension To Hit Silver Supply
April 2, 2020

Due to Mexico’s Ministry of Health issuing an Executive Order for the immediate suspension of non-essential activities until April 30th, the mining industry in the country has now come to an abrupt halt. The mining industry was hoping for an exemption to the Executive Order, but was not granted one. So, companies are now suspending production and putting their mines on care and maintenance.

According to the article on the Mining Journal website, Mexico mining suspension to hit silver supply:

Under the government decree, non-essential activities are to be suspended immediately until April 30.

The decision is expected to have a significant impact on the supply of silver at a time when demand for silver coins is high. Mexico is the world’s largest silver producer at some 23% of world production and produced more than 200 million ounces in 2019, up from 196.6 million ounces in 2018.

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