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Sprott: We Will Nail Those Paper Sellers To the Wall Here

"There is only a certain percent of the silver market which can go into savings because a lot goes into industrial. But here is the ‘piece de resistance,’ they said (India) imported 720 tons in April (annualize 8,000 tons). In May it went to 900 tons, annualized call it 11,000 (tons). We’re going from 1,900 tons (of silver Indians were purchasing) to 11,000 tons, in a 25,000 ton market. That’s impossible. There’s not that amount of silver available for investment.

Here’s what’s interesting about these numbers, Eric: As they (Indians) can’t buy gold, they are going to buy silver. If you tell the Indian population they can’t buy gold, they want to buy something real. They don’t want fiat paper. They are going to buy silver. And maybe in June or July, which we don’t have data on, when the restrictions and costs have shot up here (in India to buy gold), maybe they will buy even more (silver)"...


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costs to mine and

until there are figures as to the costs to get silver out of mines and the known reserves its hard to know /forecast a huge crunch coming..could be so but it could go to $5 /ounce as well..

Since we're throwing out

Since we're throwing out numbers, it could easily go to $5000 as well...esp. when the US Geological Society is calling for silver to become the first element to go extinct by 2020.

Silver comes out of the ground at a 1 to 9 ratio to gold. If it weren't for the Fed and the banking cartels massively selling these paper derivatives into the market and DISTORTING the price, silver would already be into the hundreds or higher. With the antibacterial, conductivity, and multitude of uses for silver, it will eventually prove to be the greatest buying opportunity of all time.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul


The current Ratio is 63 - 1.

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)