john embry was on bnn today, and he said it is possible there could be a default on the comex in december. that would be the event that changes investors perceptions about silver and gold. if that were to occur, then pricing would be determined by the physical market instead of the paper market.

the presidential election next month and the departure of henry paulson could also change the playing field. at any rate, with the arbitrage opportunity afforded by being able to buy paper silver at $10 and sell physical silver at $15+, i think it is only a matter of before they empty the comex warehouses.

according to david morgan, a couple of individuals are attempting to take delivery, and then produce the bars and/or rounds in demand by retail investors.

http://watch.bnn.ca/tuesday/#clip104603