Relevant:
- Ed Steer: Gold Shares Rallying; Concentrated Gold/Silver Shorts Continue To Decline
- Butler, Steer - Silver and Gold ETF Shorts Explode As Price Suppression Rages On
- JPMorgan et al Rush to Cover Silver Short Positions: Is a Silver Price Explosion Imminent?
- The coming silver price eruption - Alasdair MacLeod
- Ted Butler: Massive Improvement in Silver, Gold Futures Structure
2012-12-13 — financeandeconomics.org
The final chart shows the non-US banks' net [silver] shorts. Unlike their exposure to gold, these banks are in the same deep trouble as the US banks, having made the mistake of turning a broadly level book as recently as the August BPR into a record net short position on the August-October price rise. This is a vicious bear squeeze on them, which added to the US banks' position amounts to a total short of 290,000,000 ounces. This figure compares with net shorts of only 120,000,000 ounces when the price was successfully taken down from its all-time highs early last year.
...
The silver does not exist to cover these short positions, and it will take very little further buying to set off a crisis in this important market.
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