GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Wednesday, October 19, 2011

Eric Sprott, the silver paper market have lost any touch with the physical market

Eric Sprott, Financial Sense NewsHour 19 Oct 2011 : The Markets have made gold the de facto reserve currency , there are two markets for silver there is the physical market and there is the paper market and I found it almost ludicrous that when silver was close to 50 dollars an ounce then we would have days between London and China and New York when we trade a billion ounces of paper silver in a day and the world only produces 900 million a year rather than thinking about the guy who is buying it think about the guy who is selling it , somebody hit the sell button to sell a billion ounces of silver and of course without having any possibility of providing none of that silver because it is just not available , the amount that is available today is a million and a half ounces of silver for investment per day meanwhile some guy is selling a billion ounces by hitting a computer key

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