Go Figure? As registered silver inventories at the COMEX continue to plunge to record lows, the paper silver price on the COMEX aka the CRIMEX continues to be under extreme pressure. Silver eligible for deliveries on the COMEX dropped to under 28 million ounces.
After having run up from $5 to $50, silver prices were hammered hard down to the low 30's. they have been rangebound in low to mid 30's ever since. They certainly aren't "crashing down" or anything like that. Even after the last two days of beatings, silver is still above $34/oz. This is fantastic. (especially if you were buying at 8, or 12 or 20 per ounce).
Nevertheless, assets are being driven down now on purpose in an orchestrated manner to give the Fed the room it needs to move into the next Quantitative Easing what ever they call it this time. Jim Sinclair says the entire western banking system will implode or collapse if the euro were to fail and therefore, it will not fail.
The bankers will save it by issuing more debt. That is what they do. Create and issue more and more debt and make everyone a debt slave.
Make sure you have silver and gold to protect yourself from the fiat currency crisis that is happening right now as we speak. You can never be to early, but you might already be too late.
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