RE:gold miner index / gold ratio at a 31 year low More like criminal... Look at JPM's Silver Short - so large it reported to be illegal by many.
Banksters love off take agreements crammed down struggling silver miners throats at below market prices...We have an offer you can't refuse...and if you don't take it...we'll wait - You'll be back...we will make sure of it.
The Mafia would blush at how slick there criminals are.
One might claim this is nonsense - but this strong-arming by the banksters has been reported by miners. And Butler notes...they are still shorting silver as vault levels drop...and there is not a lot of above ground supply so what would be the motive to short at already depressed levels as supplies drop? One very plausible explanation: They are holding the price below cost to force the miners into their scam.
I am hard pressed for other explanations because the longer the price is held below cost, the more miners will high grade further (like GORO is doing) or will shutter (like AUN is doing with Shafter). It makes no sense to give it away but this appears to be what the banksters want. And having worked with London Banksters - fully plausible - in fact, I would bet on it. There is no compassion, only profits and the lust to win at all costs. If they could con old ladies, they would.