Since leading the precious metals higher for the last few months, Silver had passed the baton to Gold over the last few weeks. Now after resting, Silver should start to reassert itself and join in with gold and soon get back to it’s usual modis opperandi of outperforming  on a percentage basis. Here are a couple of paragraphs at the end of this week’s missive from Ed Steer regarding what may happen when the Comex & LBMA run out of silver inventory. I agree with him that it won’t happen without a cover story. Some geopolitical or economic bombshell needs to be the cover story(catalyst/excuse) just like an Enron, Lehman Brothers, war etc. It could be the final domino’s from FTX or a China move on Taiwan, they will need and use some story when they can no longer keep the beachball under water and the price rise will be explosive!

“The only way out of this for all the shorts is if the powers-that-be decided to close the COMEX…an extreme option, I admit — and allow the precious metals to trade freely, without futures or options contracts attached to them. That would be the end of the COMEX, or at least damage it significantly. The LME got away with a version of that when its nickel contract blew up…but its reputation, never very good at the best of times, blew up with it.

But the nickel market doesn’t hold a candle to the two monetary metals — and as the end approaches — and it becomes more obvious that it is upon us, one must never underestimate the treachery of those in charge of the financial system in the West. Think draconian.

Whenever that day arrives — and there’s no possible way to avoid it at some point, it will be an historic moment for the ages and, as I have been pointing out for almost forever now, it won’t happen in a news vacuum.

So, until that day arrives, all we can do is wait some more.”                                                                                                                                                                                                                                                                                        And keep stacking until there is no silver available at today’s ridiculous price.