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<p>[QUOTE=&quot;InfleXion, post: 2238465, member: 29012&quot;]I do recall. ASEs are doing the same thing now, but junk silver has never done this. I&#039;m not sure why you can&#039;t seem to address that point. These are apples and oranges. Silver eagles are made every week. Junk silver is becoming scarce. This is a much bigger development than market cycles. This is a fundamental shift that will cause scrap metal to decline, and market demand is dependent on that scrap.</p><p><br /></p><p>It doesn&#039;t much matter what the intent of the Comex is, because the fact of the matter is that for every one actual ounce you have 200+ paper ounces, which means that the price is skewed by up to a factor of 200+ in either direction on the supply side, and multiply that by the amount of contracts bought on margin on the demand side and we could very well be into a factor in the thousands. True price discovery is not possibe in this environment. Price is the arbiter of supply and demand. When supply is not supply, price is a lie. You are buying and selling IOUs, not metal. I am aware of how risks are hedged. That does nothing to negate the fact that price discovery by proxy is dishonest.</p><p><br /></p><p>If you want to invest based on whether or not there are shoe shine boys in the market that&#039;s your prerogative. I don&#039;t care what other people say. I only care about fundamentals. Buying at today&#039;s prices amounts to getting in a time machine and going back 6 or 7 years. That&#039;s a much better reason to buy than using lemmings as a contrarian play, as if their lack of knowledge somehow makes their viewpoint worse... no, it simply makes them ignorant, the same as throwing a dart randomly, as is the opposite.[/QUOTE]</p><p><br /></p>

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