David Morgan, aka Silver Guru, talks about a real possibility of a default (or at least a slow delivery) for physical silver delivery above the amount of 30 million ounces.
So swapping your paper silver or cash to physical silver on the market might end at one moment. Eric Sprott had already bought 10 to 20 million ounces of silver for a few times for the PSLV physical silver trust but David Morgan signals that you can't continue doing this for long as the silver supply is very tight.
Katchum, they have been talking about this default for years. Please google to 2008, 2009, 2010 and 2011. Every year it is the same thing, they sucker investors to buy silver and every year there is no default.
BeantwoordenVerwijderenPlease go back and see how truthful these pundits have been. They are untrustworthy in my opinion.
Maybe it's a long term thing, going over several years. But it certainly will happen in a time period of a decade from now, because we have depleted silver in about 10 years, unless silver goes much higher or unless there is new technology to mine silver.
VerwijderenGoldbug is right: the idea that there will be a default (or at least a slow delivery) for physical silver delivery is a Fringe Theory.
BeantwoordenVerwijderenWhen gold or silver moves in or out of a registered wharehouse such as COMEX, this does not mean there is a surplus or a shortage of metal. It simply means that metal that is "registered" (i.e. COMEX publishes the amount it holds) has changed. When metal is moved to an unregistered wharehouse that does not mean that the supply of silver has gone down.