Comment: ♫ Oh say can you see, by the rockets red glare? ♫

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♫ Oh say can you see, by the rockets red glare? ♫

So How Is The Silver Price Today Determined?

Note: Another important thing to keep in mind is that with the current rate of dollar creation (disguised as quantitative easing), the actual purchasing power is being eroded. Therefore, we should always seek to understand the value of silver in terms of purchasing power.

Daily silver prices... ♫ promises ♫... are determined by the commodities futures exchange (COMEX), which is part of the New York Merchantile Exchange.

The problem for silver is that most of what is traded in these contracts represents silver that does not exist. Or in other words, this amount exceeds the amount of silver that can be produced in a year.

In still other words, the price discovery mechanism for silver is broken and has been for years. What does is mean? Nothing.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul