On average, over the last 5 years, the US was a net importer of 6,944 tons, or 19 million ounces per month. However, from last October through March, the US has become a net exporter of 6,500 tons, or 35 million ounces per month, an enormous and totally unprecedented swing of 54 million ounces per month. If net exports out of the US were to continue at this rate for the balance of this year, the US would be a net exporter of 500 million Silver ounces. The only explanation that I have heard for…
