RE:RE:MemoriesHang in there my old friend. It is not Brendan who we trust. All I do is counting the days where Sprott Physical Silver Trust, currently boasting 150 million ounces of silver inventory, along with Rick Rule Investment Fund plus Fresnilio and Keith Newmeyers of the world and last but not least the Wall Street Silver Squeeze movement will break the back of the COMEX' monopoly.
Here are the details. There are currently 90,000 open interest silver contracts in Comex and the majority are silver miners hedging their future production. 90,000 contracts are 450,000,000 ounces of silver that the Crimex ought to hold in inventory to write perhaps 100 times more paper contracts.
Eric Sprott and Rick Rule only launched their physical silver trust two years ago. There is currently 50% premium of physical silver over spot price, meaning major players are witholding physical silver. So, you and I can parther and buy let's say 2 COMEX silver contracts for 10,000 ounces at the price of $230,000 Cad. Then we can force the Crimex to get physical delivery and in the process can realize 50% profit.