BIS statistics shock.During Dec 07 -June 08 ,87$ billions of precious metals(excluding gold ) derivatives were created .This is about 10 times the whle COMEX open interest!!!
I am pro-silver and and agree that physical holdings is a must. Obviously the market is somewhat manipulated. However, it is inaccurate to consider this $87B number as a figure representing money that could have been invested in physical silver, it is simply not the same thing. Did you see on the report there is hundreds of billions of otc derivatives in agricultural commodities such as wheat. Is the wheat market manipulated, with hundreds of billions diverted from physical wheat investment?
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