Loading ...I just checked as I have been reading etc. so much this week I wanted to check.
It looks like they in fact cannot redeem the metal – Eric Sprott made sure of that – so all this shorting does is prevent them from buying more silver.
So, the specs etc. are short and must cover at some point, but the bankers can’t get the physical.
So, where they are getting all this physical from – maybe JPM and/or SLV.
It doesn’t really matter – they have built up their Comex supply for a while – so they probably intend to cover the shorts when stocks go down – hoping for a deflation scare.
That’s not bullish short-term, but longer term they can never duplicate what they just did with gold again; and silver should follow at some point once enough time and consumption occurs.
I am open to any other more bullish scenarios if somebody has one.
It will be telling where they are able to get silver to close at month end.
You can’t say they won this week with the silver finishing at $33. (Just a normal consolidation?)
They won’t like that.
But they did finish the NDX positive, so they sure showed us – no?
Cheers