Monday, February 21, 2011

Turk - Silver Backwardation Now “Unprecedented 73 Cents” We Are Winning

I cannot stress this enough, there is something BIG happening in silver.  On KWN James Turk discusses how silver backwardation is now at a whopping $.73!!!  Investors are willing to pay a premium to get physical silver in their hands today, as opposed to waiting.  The problem is backwardation is a sure sign there are shortages in physical silver, so this backwardation spread will likely increase.  Priced in Euros silver has already taken out all time Hunt Brother highs. 

The positive news is silver investors are on the verge of looking like geniuses.  The negative is I believe the US Dollar and silver are intertwined.  What I mean by this is after silver exploded through key resistance of $31.23 the silver fraud officially ended.  Although we have not seen the massive fireworks yet, the evidence this fraud has ended will soon be noticeable to all. 

The problem moving forward is I believe for every $1 dollar silver moves higher we will see a noticeable weakness in the US Dollar.  I believe silver backwardation will increase not only because there is little physical demand, also because investors do not want  fiat paper.  When silver hits $40 it will be obvious the economy is much worse than what the media wants you to believe.  When silver hits $50 the dollar could be in free fall.  The amazing thing is the public will not get a clue until we hit $50, then more money will flood into this tiny sector sending silver even higher. 

The silver fraud is over.  We won the war against JP Morgan and HSBC, you will realize this when silver hits $50.  GREAT JOB!!  Moving forward we will not see a straight line higher, however we will likely see a disorderly move higher.  Continue to add to you physical position monthly. 

Full Article Here

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