I wasn't going to post here, because the blinded bulls don't seem to listen to reason, but the premise of this particular thread is so wrong its laughable. I have the data for futures spreads, backwardation meaning negative spreads, occurs from time to time in silver. Firstly I'll post the chart I posted earlier on the XJO thread which shows silver is actually not in backwardation. So thats one part of the blinded silver bull argument out the window...
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The second chart here shows a period when backwardation did occur several times, and as you can see backwardation was not followed by an upside 'explosion' in price. In fact the opposite occurred. I can't find a single instance when backwardation was immediately followed by a rise in the spot price. From my data back to 1980, invariably backwardation is followed by significant falls in the spot price.
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Each low point in the forward spreads was followed by a dramatic fall in silver prices. The gold and silver threads here on HC have lately become a joke from all the misinformation, ridiculous statements about taking physical delivery to 'bring down' Comex, etc, etc. I've been shorting silver lately, and the signs were all too obvious.
I believe further falls are still to come.
silver in backwardation, set to explode, page-7
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