Kitco News, Released on 6/30/21
Supply disruptions that began during the outbreak of COVID still linger and continue to cause shortages of physical silver deliveries, driving premiums up, according to Rick Harrison, owner of the Gold & Silver Pawn Shop as featured in the hit reality TV show “Pawn Stars”. “It’s very hard to keep any bullion in stock and the bullion I do have I’m selling them for $4, $5 over spot when it comes to silver. It’s very difficult to get. Physical silver is a very hard thing to find right now. I know a lot of people in this business…physical delivery is very hard right now,” Harrison told Michelle Makori, editor-in-chief of Kitco News.
0:00 – Inflation and the USD
5:31 – Labor shortages
7:10 – Physical silver shortage
11:57 – Prices on collectible items
Pawn Stars’ Rick Harrison on why it’s so hard to find silver right now added by Herman James on
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Rick has pretty good fundamentals regarding economics & how the world works, and this was enjoyable to watch. Nice interview.
He did have one little slip up though that came out early and I’ll bet he’d probably take it back on hindsight. And that was when he was describing how fast prices were going up and how the govt doesn’t understand that printing money causes prices to rise. He’s in error because those people he refers to in govt know full well & understand completely that printing money causes prices to go up. The big problem is that they couldn’t care less. They don’t give a crap that inflating the currency is immoral and causes enormous economic destruction & dislocations. And this is because of one thing and one thing only. THEY BENEFIT FROM IT.
Pawn Stars’ Rick Harrison is absolutely right. As a pawn shop operator he has to constantly ask himself the question; what is this particular incoming item actually WORTH? What is it’s real VALUE? So, when the pawn shop broker is operating in the real world, and the Federal Reserve strategists are just smokings their socks, the US of A is really down shit creek!
Gold and silver is the only few remaining items of any value, so stack it up as fast as you can…
I like to pull up a long-term chart of gold/silver from the early 2000’s every now and then to put things in perspective, and it’s pretty clear the dollar is steadily losing value.
It’s clear the future for gold/silver is bright. I think where most people go wrong is they thought they were gonna time the market and get rich quick whereas this is more of a slow-burn that will take decades to unfold. It’s hard to imagine a scenario where gold and silver don’t keep rising in value against the US dollar over the next, say, 10, 20 or 30 years