The COMEX silver futures market is leveraged anywhere from 100:1 to 300:1 in real metal terms. Recently, several reliable sources claimed silver is actually at a ratio of 405 paper contracts against each ounce!
There are typically only 80–120 million ounces of registered (deliverable) silver in the entire COMEX warehouse system, yet open interest regularly exceeds 800 million to 1 billion ounces when measured in total contracts.
The entire pricing structure of the world’s silver market is therefore built on a tiny sliver of physical metal backing an ocean of paper claims.
If silver ever broke out and stayed above $60, $75, or $100, the physical delivery demands would explode.
Miners, industrials, jewelers, and investors would stand for delivery in unprecedented size, and the vaults could be drained in weeks.
That would expose the fractional-reserve fraud for what it is and force a settlement at prices multiples higher than today.
The bullion banks cannot allow that contagion to start. It's all about preserving the current global monetary system that's run & controlled by a few elite bankers.....
....Keeping silver suppressed is literally a systemic risk issue for them.
But while the bullion banks defend the $60 level like its the Alamo, silver continues to relentlessly grind higher every time China opens.
Forget the COMEX and the globex this afternoon and Sunday night.
Keep an eye on Shanghai when trading resumes next week. If China pushes the price of silver to $62 or $63, the bullion banks won't have enough fingers to stick in the dam to prevent the flood of silver demand from overwhelming their suppression schemes.
