by Steve St. Angelo, SRSRocco Report:

The world economic and financial markets have entered into a crippling cannibalization of the system in which few are prepared.  While the politicians, financial analysts, and media are providing optimistic forecasts for the future, they continue to underestimate the seriousness of the global contagion.  Thus, after a week or two, these forecasts will be revised lower (once again) to reflect a more gloomy, negative and more realistic outlook.

So, in another a few weeks, the world as it pertains to this contagion will look a lot worse than it does today.  I’d imagine the Dow Jones Index will likely shed another 5-8,000+ points during this period. Also, the global supply chain disruptions will kick into high gear as month-long lockdowns in various countries finally impact manufacturers and retailers across the world.

I haven’t put out too many new updates and articles over the past few weeks.  Rather, I decided to take a step back to research and watch as this global contagion continued to unfold.  However, I will be putting out more updates, videos, and articles over the next month as I believe most people are still unprepared for what’s coming.

Although, I have been a bit busy on Twitter recently.  You can follow my TWEETS and REPLIES on Twitter here: SRSRocco Report Twitter Feed.  When I posted this Tweet on March 15th, the price of oil was $31.  I stated that the price would likely fall to $29 the next day… and it did. The relevant sentence in the tweet below is… WE DON’T COME BACK FROM THIS ONE.

Today, in early Asian trading, the oil price is trading in the $27 range.  If $31 oil was destroying Shale Oil Companies left and right, $27 is undoubtedly wreaking havoc inside and out.  Unfortunately, the worst is still yet to come.  I now believe we could see oil reach the low $10s.  And, to make matters even worse, the wholesale gasoline price is currently trading at 72 cents a gallon… LOL.  If you add state and federal taxes, along with a bit of profit by the gas station, the price at the pump would be approximately $1.40-$1.50 a gallon.  It will likely take a few weeks for the lower price to finally make it to the pump.

What happens when the oil price reaches the low $10s??  Gasoline will be selling for 99 cents a gallon or less.  Can you imagine?  This is partly the reason we are seeing a low PAPER SILVER price.  I will get into the details of why this is the case in a video shortly.  However, physical silver prices for bullion are $4-$8 higher than the spot price, and the spread may continue to increase going forward.

Physical Silver Buying Surges As Fear, Panic and Common Sense Hit Investors

Investors are buying record amounts of physical silver for very different reasons.  If you are a “Seasoned” precious metals investor, you may be adding more silver to your holdings because common sense says it’s a good idea.  On the other hand, new investors to the precious metals are likely buying due to Fear and Panic. Many of these investors have thought about buying gold and silver for years, and now that the market is disintegrating right before our eyes… they have finally decided to PULL THE TRIGGER.

Unfortunately, these new investors have started to acquire precious metals at the worst possible time… when an avalanche of people has come into the market.  This is like the infamous video now circulating on Twitter showing the extensive long lines at Costco.  Click on the video posted by Craig at TFMetals Report if you haven’t seen it yet.  This is what panic looks like when people decided to prepare at the last minute.

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