Looking at the Ronan Manly article about the change in the prospectus of silver ETF's and in particular at comments from the Aberdeen Physical Shares ETF management in which they are concerned by "an online campaign to harm hedge funds and large banks with substantial short exposure to silver" which may cause a divergence in price of its shares to its NAV as demand for silver rises. Ronan Manly eludes to the possibility of the problem being that the fund doesn't have the necessary metal to back the funds shares 1 for 1. The problem could be somewhat larger if they have leased out their metal to a hedge fund to short. If so, shareholders in this fund "need to run for the hills." Also from what I believe, the ETF's are not bound by law to back the shares 1 for 1 so anyone owning shares in a bankster backed fund may well be betting against themselves. The only ETF fully backed by metal is Sprotts and it will no doubt outperform the others when silver finally breaks free.
