The amount of silver withdrawn from SLV...or SLV shares converted to physical since January 14...now totals 36,203,057 troy ounces...7,240 COMEX contracts worth...60 truckloads.
There was a lot of talk on the Internet about the explosion in the cost to borrow SLV shares yesterday morning. The first I heard of it was from reader Dave Draughon -- and the next time from John Glavin, who sent along an 'X' message from Bob Coleman entitled "SILVER ALERT: The borrowing fee on SLV ETF has just gone vertical. Up 10x since this morning" -- and linked here.
And from reader Paul Uselton at 10:32 p.m. PST last night...the link to the SLV borrow fee...is now up to 12.16% as I type this...with only 600 shares available to borrow. So no SLV shareholder is foolish enough to lend their shares out, even at this interest rate. The stress in the silver market appears to be in the process of going parabolic.
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Ed Steer’s Daily Analysis of the Gold and Silver Markets
After eight years of writing about the precious metals for Casey Research, the folks at Stansberry & Associates—who just recently purchased controlling interest in the company—decided that my ‘niche market’ column didn’t fit into their plans.
Since the time that Casey Research was kind enough to offer me a stand-alone column, it became their most highly-rated blog almost from the outset—and has remained that way up to this date...