Pent Up Silver Demand and The CFTC Linchpin As scandal after financial scandal take their toll on public confidence in the economic morass curiously called the financial system, what will be the trigger for a short covering panic in the metals markets? With countries the size of Spain lining up to get bailed out and a lagging global economy, the United States is not that far behind Europe as individual states and local governments find it harder to stay afloat. Consequently, what you can purchase with a U.S. Dollar will continue to diminish. The inventories for precious metals are dwarfed in relation to the amount of paper silver contracts used to keep prices controlled. When the eventual covering of contracts occurs, heavy buying will come from the large entities that unofficially represent or are literally the working arms of the central banks, exacerbating the panic. Chilton Refutes FT Article On August 5th, the UK financial daily, the Financial Times published an article entitled, “Four Year Silver Probe Set to be Dropped”. The article began with, “A four-year investigation into the possible manipulation of the silver market looks increasingly likely to be dropped after US regulators failed to find enough evidence to support a legal case, according to three people familiar with the situation.” …to continue reading the article, click here.
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