Bill’s Commentary:
“Thank you Wolfgang. For those who fret about Friday, here is some news on “demand”, and don’t forget, silver cannot be printed and a lower price spurs demand.”
Bill,
It's all coming out in the open. What you've been espousing for some tome now... fractured markets. Everywhere you look, articles are sounding the alarm: the vaults are empty. This is NOT the Hunt brothers scenario of 1980. The silver, this time, is not there.
Wolfgang
The chaotic sell-off exposed a massive structural fracture: the "Great Divorce" between paper contracts and physical metal.
For decades, Wall Street banks controlled silver prices by selling billions in "paper silver"— futures contracts that rarely resulted in actual delivery. But in 2026, China locked down silver exports, creating problems for companies in sectors that need the physical metal for next-gen solar and AI technologies.
Facing a sixth consecutive year of supply deficits, those industrial buyers are no longer settling for cash. Instead, they're demanding bars, triggering a physical scramble that's drained COMEX and LBMA vaults to their lowest levels in decades. As a result, the scramble has created a "backwardation" trap where silver for immediate delivery is far more valuable than a paper promise for next month's delivery.
You can see the strain in the spiking paper-to-physical ratio, which has surged to 528 million ounces of paper exposure to 113 million ounces of physical silver, according to Investing.com.
Why silver bears just flipped bullish after record plunge
Silver’s 30% plunge on January 30 is one for the record books. The drop in the shiny white metal was the worst since 1980, when the Hunt Brothers tried to corner the market, and it followed a massive silver rally that sent prices soaring nearly 250% in the past year.
The decline wasn’t unexpected. I’ve been tracking markets for over 30 years and wrote last week that Wall Street futures trading legend Peter Brandt and pro strategist Marko Kolanovic were bearish, expecting a major move lower after silver’s parabolic blow-off top.
The latest from USA Watchdog –
BillHolter.com 
Nice job all keep it coming ty
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