Short Sellers Now Screaming about a Buy-Side Silver Conspiracy http://jessescrossroadscafe.blogspot.com/2011/04/bankers-silver-scam-is-unwinding.html
That article says platinum is 14.7 times rarer than gold which isnt true. Gold occurs at .004 ppm and platinum occurs at .003 ppm. That article says Platinum should be worth $22k per oz, but in reality it should only be worth $2,039 if gold is at $1530. Currently platinum in relation to gold is undervalued by about $215 only. This article should get its facts straight.
You are right about the average occurance of the minerals in the earths crust. However, the rarity is here referring to the distribution of the minerals. You need a much higher concentration than the average in order to be able to mine the mineral. For gold a mining pit ususally have a concentration of 1-5ppm. Platinum is more evenly distibuted and is basically mined at two sites in the world (South Africa and Russia) and the extraction is painfully slow. This can be seen in the annual productions: Gold 2800tons, Platinum 30tons.
It is true. The Treasury sold the 3 Billion ounce or 100,000 Tons of silver they had in the 1950s, and then the 400 Million ounce silver or so strategic stockpile got sold/used up by the early 2000s. This shows that the Treasury had 3.28 billion ounces of silver at the end of 1942. Many people claim (a/k/a have fallen for) the U.S. having 5.9 Billion ounce of silver at one time, but that seems to include coinage (or was perhaps simply made up). 300,000 Tons of Gold and other treasures This gold find in the 1940's would have crushed the value of monetary gold around the world, per Weir. Because the US Government was the largest holder of monetary gold, it would have significantly devalued the US monetary reserves if made public . Too, its revelation would allow claims from certain Asian countries that the gold belonged to them. This would upset the balance of power and wealth in the region. http://digicoll.library.wisc.edu/cg...inYB1941.p0081&id=EcoNatRes.MinYB1941&isize=M http://www.marketoracle.co.uk/Article8813.html http://uscode.house.gov/download/pls/31C51.txt