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Daily Reckoning/James Rickards/2-16-2021
“In plain English, the SLV sponsor is candidly admitting that there may not be enough silver to support the issuance of new ETF shares, in which case, new share issuance may be suspended. This would come as a shock to markets and could cause outright panic buying in silver. The short-squeeze would reach a critical stage. Given a shortage of silver in the London market and increased attention from both professional traders and the Bros, what are the prospects for the price of silver in the near future?”
USAGOLD note: If the price is set too low via the commodity markets price discovery mechanism then supply will be stymied. Demand, on the other hand is consistent…… and strong with the Biden administration’s push for green energy, in fact, energizing even more demand. Rickards offers details in this article how a squeeze on physical supplies could develop using Ronan Manly’s findings on the silver supply in London as a launchpad.
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