"The huge rise in silver price has caught the silver bankers totally offside on the silver banking. The BIS data released in November (www.goldexsextant.com) shows that the G 10 bankers have collectively sold forwards and swaps to the tune of 4 billion oz and short naked calls for another 3 billion oz. The total, 7 billion oz represents 10 years of production. If you just do the forwards, then it is 7 years of annual silver production.

Let us say the average cost of acquiring these derivatives and forwards equate to $15.00 for silver. Thus collectively the entire G10 bankers are feeling massive pain (losses) to the tune of:

7 billion oz of silver( 32.30-15.00) = 7 billion x $17.30 = 121.1 billion dollars of losses.

This is in a market of only 14 billion dollars. It begs the question to what economic need was this done.This is still off balance sheet. If you include only the forwards or swaps (the lending of actual metal to which nothing has come back yet) then the losses are:

4 billion x 17.30 or 69 billion dollars.

Regardless how you look at it, the bankers are in serious trouble with this huge rise in silver prices. I hope you understand the severity of the situation."

My note: We have seen reports of silver shortages, paper overloads, delivery delays etc for the last five years. What seems different now is that they are all happening at once AND they seem to be accelerating. The amount of paper pounding is now constant. I don't think that the banksters have any "within the market" exit left. Something is about to break. I have no idea what it will be, but it will be significant and will signal a permanent change in the metals market. I will not sell any ounce of physical, nor one share in this enviornment except for re-ballancing. I do not want to be caught in cash (toilet paper) WTSHTF.