Friday, January 20, 2012
Gold and silver moving.
I did not post about this. KWN is always talking about the coming shorts squeeze, so I kept quiet. What they report though is that the silver market is 20M oz short and that the silver was borrowed from SLV and sold. So, silver rocketed past 31 and is now over 32. There is serious backwardation for silver and Europeans are dumping the Euro as fast as they can. The Dollar had stopped rising, even as the Euro falls, and the CRIMEX has "compliance problems." Meaning that they can not deliver on paper contracts. Is this the early phase of the coming panic?
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