Manipulation SMASHES Silver Prices – But they Go Back Up Anyway . . .

• Manipulation SMASHES Silver Prices – But they Go Back Up Anyway . . .
  by https://halturnerradioshow.com/
  It’s not the silver, its the derivatives! Wednesday night into Thursday, the silver market experienced 6 vertical smash-downs as silver prices crept up towards $60. The most blatant attack occurred this morning, after silver had closed ABOVE $60/oz in Chinese trading.  The bullion banks went to work as soon as London opened, but silver prices wouldn’t stay down.
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  As silver started to re-accelerate to the upside, and neared the critical $60/oz level, the bullion banks unleashed their fury yet again. Prices were smashed from $59.895 to $58.47 on MASSIVE volume. It is clear that the bullion banks have drawn a line in the sand at $60, & are defending this level much more strongly than even the all-time high of $49.45. Does something BREAK with silver prices above $60/oz?  Is that something related to the derivatives market?
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  Silver Is the Achilles’ Heel of the Fractional-Reserve Precious Metals Paper Market
  The COMEX silver futures market is leveraged anywhere from 100:1 to 300:1 in real metal terms.  Recently, several reliable sources claimed silver is actually at a ratio of 405 paper contracts against each ounce!
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  There are typically only 80–120 million ounces of registered (deliverable) silver in the entire COMEX warehouse system, yet open interest regularly exceeds 800 million to 1 billion ounces when measured in total contracts. The entire pricing structure of the world’s silver market is therefore built on a tiny sliver of physical metal backing an ocean of paper claims.
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  If silver ever broke out and stayed above $60, $75, or $100, the physical delivery demands would explode. Miners, industrials, jewelers, and investors would stand for delivery in unprecedented size, and the vaults could be drained in weeks.
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