If I remember well, in October 2008 the price of silver wentdown 22% in a few hours.

Courtesy of the same banking cartel ofcourse.

Someone on the CDE board says the COMEX is already in default and I think it is true. Sadly enough, the CFTC is not taking any action. We have backwardation in silver, we have dealers stopping sales of physical silver, there are enough signs that there may be a 20-30% difference in today's virtual silver price and the price in the physical market. Arbitrage cannot close that gap, because there is no physical silver coming from the COMEX to do so.

This is an unsustainable situation. Either the price of silver shoots up next week or the COMEX must be declared in default, because the demand for physical cannot be met by the COMEX at today's price of silver.