Sprott Frustrated With Hostage-Taking Paper Silver Market
GRONINGEN -
Silver producers are being held hostage to the paper silver market, says, Eric Sprott, Sprott Asset Management CEO.
Speaking to Mineweb the week after posting a letter on King World News calling on silver producers to act to ensure that the physical market, rather than the paper one, determine the price of the metal, Sprott said that he wished producers of the metal would ” finally realise what the paper boys did to them in 2008 – they nearly bankrupted them all and yet they haven’t got involved in these lawsuits which I find troubling.”
Asked whether or not he has received any feedback from the producers on his suggestion that they “reinvest 25% of their 2011 earnings back into physical silver,” Sprott said that there had been a groundswell of interest – more than he had ever seen before – but that still more needs to be done.
Sprott says that the idea stems from two factors currently at play within the silver market: the first is the general weakness seen within the global banking system, the second is the level of volatility in the system.
“For example, when silver hits $49.50 between the various paper markets, there was something like one billion ounces of paper silver sold that day – and purchased of course. But, we only produce about 900 million ounces a year… what do you think of the guys who were selling a billion ounces of silver who didn’t have a hope in hell of providing it?”
By investing in the physical market, Sprott believes, producers would be able to show that there is indeed an imbalance in the physical silver market.
“It’s a pretty fine line right now whether they can meet all the demand on a day-to-day basis, if by putting 25% of their cash into silver – it might have the effect of decreasing the supply by around 10 percentage points… I believe 10 percentage points would be enough to make a difference.”
READ MORE:
http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=141088&sn=Detail
Filed under: SILVER AND GOLD MARKETS Tagged: http://www.colonel6.com/Sprott-frustrated-with-hostage-taking-paper-silver-market.html, http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=141088&sn=Detail
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,609,811,959 |
| Stories: | 8,168,661 |
Whistler Blowers, Insiders
BUY SILVER!!
For a muslim, only physical gold, silver, and err… other commodities that do not die, and have value, are money.
http://www.youtube.com/watch?v=f6iFFs0l3fs&list=PL33CA1E851717FFB8&index=1&feature=plpp_video
This is the problem with Silver, the paper market can drive the price down any time and make large profits. They then let Silver slowly rise then drive it down again. The paper market has effectively turned Silver into paper money, the market can continue to create paper therefore hold the price of Silver at what ever they want.
I hold Silver and I’m fed up with the manipulation.
The only way to kill the shorts is serious physical shortages. I hope Sprott’s plan works but I’m not holding my…….
Just keep buying silver, and avoid eugenics food. Putting the money in silver is better than putting it in paper notes. They’re selling, we should be buying. And at least we can use the silver coins in our communities… (personally I’m looking for an organic village that has the balls to trade with silver and gold and etc)