This interesting comment was posted in
lemetropolecafe.com today:
Quote:
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The silver ETF has over 20 Million oz in the trust. That's over 600 tonnes of silver, acquired in just two days. Something does not smell right. This silver is supposed to be stored in England, and that 20 Moz already approaches LBMA total stockpiles. If the ETF owns it, what is the LBMA using to trade? The capacity of a 16 wheel tractor trailer is 15 tons. How did the ETF move 600 tonnes into its vaults in two days (over 40 truck loads) even if they had access to it? I have said all along that this ETF is a paper silver play and that's the way it looks. Did you know that it took Central Fund over 6 months to acquire a mere 8 Moz two years ago? The logistics of moving large tonnages of silver are daunting. Rhody.
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