gfms, a "respected" name in silver has issued a 41-page report on the white metal that adrian douglas of gata does not agree with. you can find the original report here, but reading it is a waste of time:

http://www.silverinstitute.org/pr22a...

It is a complete sham -- misinformation and garbage.

For example: "Starting with retail investors, part of this group, primarily investors based in North America, continues to consider silver to be a quasi-monetary commodity. After all, silver ceased to be part of the United States' monetary system only in the 1960s. Some players consider silver (as well as gold) to be a superior store of value to fiat money, due to the latter's arguably not bearing any intrinsic value. These investors are understood to have 'kept the faith,' to varying extents, throughout the bear market of the 1990s, while some seem to subscribe to various theories of silver price suppression."

How about that? Fiat money "arguably not bearing any intrinsic value"! What is there even to argue about? Fiat isn't even printed anymore; it's stored as a number on a computer. If you unplug the computer or hit it with a virus, all record of your money disappears.

GFMS says "some seem to subscribe to various theories of silver price suppression." How arrogant of GFMS! The Federal Reserve has announced that it will suppress interest rates with "quantitative easing." Has the silver market somehow been vaccinated against price suppression so that it could be immune to this?

These so-called experts on the silver market fail to mention in their report that the Enforcement Division of the U.S. Commodity Futures Trading Commission is conducting an investigation into possible manipulation of the silver market and has been doing so for seven months.

http://www.gata.org/node/7379