~2020: Silver begins a structural supply/demand deficit where mining production + scrap recycling < industrial demand. The structural deficit begins draining existing vault stocks from the LBMA et al
2021: The US military begins sourcing silver from the public markets as the Defense Logistics Agency (DLA) runs out of their surplus silver stock
July 2024: India enters the chat:Silver spot price begins ~93% correlation with INR/CNY currency pair. This might be reflective of India...
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At the beginning of the year, the Exchange For Physical (EFP) spread for silver (calculated as COMEX futures minus LBMA spot) rose dramatically from near zero to almost $1. This was largely attributed to fears or confusion over USA tariff policy and the potential impact of same on moving physical silver from London to New York eating into the profit of the arbitrage trading that bullion banks have long enjoyed. The bullion banks started moving physical silver en masse to New York - COMEX...
Considering the possibility of gold as unpegged legal tender ...
... history only records six characteristics for money. It is with the development of digital money systems that a seventh characteristic for money becomes apparent ...
Tracking silver vault totals for the COMEX, LBMA and SGE/SFE monthly. Also contains news and discussion related to industrial demand vectors for silver.
Ongoing discussion of events related to the world reserve currency ...