Dartboards Clogged Toilets and the Silver Institute — John Macintosh

On average, over the last 5 years, the US was a net importer of 6,944 tons, or 19 million ounces per month. However, from last October through March, the US has become a net exporter of 6,500 tons, or 35 million ounces per month, an enormous and totally unprecedented swing of 54 million ounces per month. If net exports out of the US were to continue at this rate for the balance of this year, the US would be a net exporter of 500 million Silver ounces. The only explanation that I have heard for this enormous trade flow reversal that makes any sense at all is that the US and China have made a deal for certain rare earths to be shipped to the US, and paid for, not in dollars, but in gold and silver. In 2024 the average quarterly US gold exports were $ 9.5 billion. Last quarter they were $ 37.5 billion.