Impact Silver Corp V.IPT

FFS 21 handle again on silver

[OneDayRodders]

As long as COMEX exists then Silver is f*****d

[Thales42]

Recently Ruffie Faber  set a precedent by buying a 5,000 silver contract and forced phisical delivery. According to him there are 90,000 open interest silver contracts remaining. 90,000 contracts by 5,000 is 450,000,000 ounces of silver.  Eric Sprott's Physical Silver Trust has 60,000,000 silver.  It will take some time for Sprott, First Majestic, Endeavour Silver and few others

[OneDayRodders]

Yeah ... I won't be alive when that happens!

[Thales42]

Perhaps, but remember that. Sprott Siver Physical Trust with its 150  million ounces of silver in inventory were not around two years ago.  Think for a moment where Sprott, Keith Newmeyer and Wall Street Silver Squeeze movement will be in two years time  

[Thales42]

Day by day the monopoly position of the Crime-ex syndicate is eroding. There is 50 % primium of physical silver over silver spot price.  The bulk of the open interest contracts are actually miners hedging their future silver production. What will happen if some of them, Fresnilio or First Majestic turn to Rick Rule Investment Fund and start hedging their production with Sprott and Rule