Ed Steer on silver ETF SLV

SLV reported another big chunk of silver was withdrawn. This time it was 1,250,823 troy ounces. That makes 9.6 million ounce of silver withdrawn since February 26th... this at a time when silver prices are rising... and metal should be pouring into the SLV... not out of it. Obviously someone needed another big chunk of silver and couldn't get it in a timely manner from either the open market... or from the refineries.

- Ed Steer, Gold and Silver Daily, April 6, 2010

Financial Armageddon

I think the expression "going to hell in a hand basket" is very apropos right now. There is absolutely no way out of this economic, financial and monetary Armageddon that awaits the entire planet.. and I would suspect that all governments and their respective central banks know that. The only thing that's unknown, is the timing. But, judging by the speed with which things are circling the drain, something has to give pretty soon.

As I said the other day, there are only three possible outcomes... or combinations of all three... that are staring 'the powers that be' in the face. One is an outright deflationary collapse, the second a hyperinflationary depression... and the third, a return to a gold standard of some sort. Which will it be?

- Ed Steer