RE:RE:SLV about to throw in the White Towelwhy they were true to their prospectus and bought upwards of 600 million ozs of silver. They are obviously having trouble getting the last 100 million ozs or so though.... the thing is all the horse pukey about GLD not holding the real thing was formulated by one James Turk at the beginning of this century and this line of thinking was extended to the SLV. James Turkd was running his own bullion outfit in competition with the oncoming gld etf. Gata picked up on this disinformation and still to this very day those quacks are supporting the disinformation about the etf holdings of physical bullion..
what happened my friend is the buying of slv shares caused a shiortage of physical sulver bullion but you guys were so full of the gata puke that you didn't realize delivery of physical bullion to the slv depository is not instantaneous. Now the authorized dealers have finally told the slv that they cannot acquire the silver to meet their obligation to supply the erf depository..
and slv adjusted its prospectus accordingly...
all that is left is for game set and match to be called..
on the other hand gold is getting hammered because the BIS has told the banker boys they must get rid of their unallocated gold accounts... when they force the unallocated gold holders to take cash for gold they want to pay the lowest price..... and also since a crack up the gold market could cause structural damage to the world fianancial sustem... The is why the hedge funds amd bankers like black rock and TD are telling the all and sunfry that they are exiting gold positions..