While the rest of the world settles into semi-lockdown, truckloads of 1,000-oz. silver bars are being quietly transferred in and out of COMEX warehouses and ETFs. Who and what's behind the moves?
The "Big 8" banks are the principal players, according to silver and commodities expert, Ted Butler. To avoid criminal prosecution by the Justice Dept. for price manipulation, the banks have agreed to buy back their expensive silver short positions, a move that has already cost them an estimated $15 billion.
Then there's the movement of millions of ounces into silver ETFs, as investment demand consumes more of the precious metal that's already in critical short supply.
Now add in accelerating industrial demand for silver in product manufacturing, setting off a move by some users to begin stockpiling physical silver as insurance against continued and future short supply. "These guys are going to start to panic," Butler says. They will have to pay whatever the cost is and it will send silver prices to the moon!"
Listen in to this episode to find out when Butler believes it all might happen, whether additional silver mining can right the situation and why he believes most will be tempted to sell when the price is too low.