Ned Naylor-Leyland on Keiser Report - LBMA struggling to deliver silver

When asked about this week’s big moves in gold and silver and whether we are witnessing the start of a historic rally in the metals Harvey responded:

No question. The key development that Ned Naylor-Leyland discovered is this big physical purchase of silver that had to be settled INSIDE of the LBMA. They won’t deliver it outside of the system because there is no silver! That’s a real crisis! I’ve always advised the CFTC that the moment London is out of metal, the COMEX will be out in a nano-second! It will travel across the pond as quickly as possible and could cause a default of the COMEX.

This is why you’re seeing massive movements of silver in the vaults, all over the place. Every day there’s been over a million ounces moving around. Whenever you start seeing that, then you know there’s trouble. It’s Peter robbing Paul to pay somebody else. It’s just going on, and on, and on, and it’s now coming home to roost. And our friend the banks – JPM have their hands full!
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