this comes from ed steer of casey research:

In a lengthy phone conversation with Ted Butler on Thursday afternoon, he informed me that since June 12th there were about 2 million ounces of gold that had been purchased in the gold ETF...GLD. The fund is now almost back to the amount of gold it had in it before the March price 'correction'. But silver is the jaw-dropper. You may remember that zero ounces of silver were sold out of the silver ETF...SLV...during the big $5 smack down in mid March. The amount of silver that has come into the silver ETF...SLV...since June 12th is zero, zip, zilch, nada, none...not an ounce!!! Ted says (and I agree) that the reason that no silver is coming in, is because a) there isn't any to be had, or b) none is available at anywhere near current spot price, or c) a combination of both. Butler wrote an essay on this issue about three weeks ago where he felt that Barclays' silver ETF (SLV) was short between 25-60 million ounces. Ted now feels that total owed has now risen to between 40-75 million ounces (that SLV should have backing all its shares, but doesn't)

http://caseyresearch.com/displayDrp....