My portfolio holds ECUXF and today it finished up $.01 on average volume. It was one of only 2 green stocks on my board today. At least that is a positive.

Of course yesterday it was down while ECU on the Can ex was trading almost 3 cents higher even allowing of exchange rates.

I recall in the last few years there has been examples of gold and silver getting pressured toward the end of december only to pick up strongly in january. I am hoping that the volitility we have been seeing translates into a massive up move starting in January.

More and more we seel more buyers demanding physical or taking the "physical" that they own out of some banks storage. Taking physical out of the hands of fractional reserve banksters puts pressure on them. No one knows how much physical is actually owned EXCLUSIVELY by the ETF's, by the crimex, by LBME. In 1999 there were rumors of all the major US and British bullion banks implemeting fractional reserve practices. Now there is SO much more physical supposedly in the hands of the various agencies, that it seems unlikely that there aren't many "owners" of the metal that each ETF, CB, BB, exchange claims to have.

The multiple recent examples of difficulty in getting the "custodians" of precious metals to deliver that metal to its owners is just another symptom of what is going on. It won't end nicely if what seems obvious, is discovered to be fact. If thousands of "owners" turn out not able to take delivery of the metal they bought and have paid storage fees on for years.

Those holding actual physical and quality metal producers will be in a good stiuation. Many others will not be so fortunate. No one will go to jail, the governments will collect fines, but the people who believed that their physical gold or silver was really in the vault just waiting for them to come pick it up at any time will be screwed.