SILVER SHORTAGE: Eric Sprott : There is only 700 million ounces mined in a year

SILVER SHORTAGE: Eric Sprott : There is only 700 million ounces mined in a year

MONDAY, MAY 16, 2011

Eric Sprott : There is only 700 million ounces mined in a year

Eric Sprott : One of the things we should look at is the trading of silver in the paper markets, I mean the Comex and the SLV. Last week it averaged 1.2 billion ounces per day. There is only 700 million ounces mined in a year. There is only 33 million ounces of physical silver that is available for delivery by the commercial shorters. If something like 3% of the people that were trading silver in one day demanded physical delivery, there would be no silver on the Comex.... The key market is the physical market. I don't think this raid is going to work." .

MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

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