And this is the Greatest Depression!
Eric Sprott made an appearance at Casey Research Gold and Resource Summit where in addition to providing a succinct summary of all his monthly letters from the past year, whose forecasts are all gradually panning out, he spoke about the prospects for gold, and particularly silver.
We will leave it to readers to parse through the brief must watch clip, but here is the punchling for those wondering why increasingly more distributors are reporting indefinite lack of physical silver inventory:
“There’s $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half… Which means there’s nothing left.”
Submitted by Tyler Durden on 02/23/2011 15:05 -0500