Currently the silver market is once again knocking on backwardation; for those that don't know, this means the future price of silver is less than the spot price.
This can mean there is mistrust in the market as traders want their metal NOW!
It is argued that this is self healing in a non-criminal market by virtue of the arbitrage opportunity it opens up.
I can't believe that someone hasn't taken up the opportunity to bust the crimex as it is well known that no matter what you paid for a futures contract, if you hold for delivery they'll give you whatever you ask, except the metal. Think Hunt brothers but smart and have access to a standing army.
On another matter:
The IPC https://www.ipcn.nsw.gov.au/cases/2022/12/bowdens-silver has stopped reporting submissions as of the 25th of January and even removed the count.
This is deeply troubling to me and is indicative of corruption and negativity.
This may be influencing the market to some degree.
I have diamond hands and will never surrender.
I'll still be a shareholder when they're paying dividends.
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