I wasn't going to post here, because the blinded bulls don't...

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...



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.



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.