yes but if they are short and there is a squeeze then they will have to:
1 short cover to pay
2 can’t magically roll or substitute the contract
3 market frenzy knowing bullion banks don’t have the silver they promised, industrial uses will hoard silver (think Kodak) further pushing up the price.
also I don’t believe the comex has that in their contracts - - yet. They recently changed that you need 5000 oz to stand for delivery. The slv does but comex don’t think so.
but when this gets crazy govt can easily change the rules.
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