If the Comex runs into troubles with a temporary inability to deliver on contracts and approaches a de facto default, most of the regulators and pundits will say they 'never saw it coming.'
Well, here it is.
Hard to miss an almost 70% drop in deliverable inventory like this in a little over two years.
UBS remarked today that they see a choke on the supply in gold, but not in other metals.
Yes, there is plenty of silver available, but at higher prices. How high, only the market can tell.
At some point, even if it is for a brief period of time, silver bullion may not be available at any price, at least in dollars.
Just another day in the Pax Goldmana. "They create a desert, and call it recovery."
