Antal Fekete and silver backwardation

"THE LAST CONTANGO IN WASHINGTON" by Antal Fekete I read the above article 5 years ago and have reread it a few times since. It is copyright material so I didn't link to it , though it is easily found. Silver is in backwardation but the story is really about the end of fiat currency. I dont think silver has been in real backwardation before during my lifetime ( ready to be corrected) so as a market event gotta be a bit dark swanish

jack - you can always paste a link to copyright material that is published anywhere - what you shouldnt do is cut and paste it in full, without attribution, you are allowed a [snip] for fair use with attribution, but you may not post even a ship, even with attribution, if it specifically says the material is not for distribution - e.g. a paid newsletter.

Thank you for this very interesting link nad post, thank you.

I read the article too, but its does not hang together historically. Backwardation is a speculators market condition when conditions are pointing to inflation, lack of metals, cornors or just bad guesses. Fiat currencies are always and everywhere flawed, and failing eventually. The two are not necessarily linked in my opinion. In 45 years of owning silver I have not figured out the insanity of PMs, except they run on volitality. But it is a habit that is hard to break once you are bitten. Thanks, interesting and dasin is right you can offer a source on any data even if it is proprietary, just do not quote it. Islander

jack - you can always paste a link to copyright material that is published anywhere - what you shouldnt do is cut and paste it in full, without attribution, you are allowed a [snip] for fair use with attribution, but you may not post even a ship, even with attribution, if it specifically says the material is not for distribution - e.g. a paid newsletter.

K, thanks for that

Here is Link to old (copyright)article by Antlal Fekete re silver backwardation

exerpt below

"Last contango" does not mean that the available supply of monetary silver has been "consumed" by industrial applications, as trumpeted by the cheerleaders of the get-rich-quick crowd. Such a notion is at odds with the fact that silver has always been, and still is, a monetary metal. Huge stores of monetary silver still exist, but are kept out of sight and availability by their current owners who, for obvious reasons, want to remain anonymous. "Last contango" is the endgame of the grand tug-of-war between the money doctors and "We, the People". The doctors exiled silver from banking to the futures market hoping that it will drown there in a sea of paper silver. But the silver corpse stirs. People withdraw ever greater chunks of cash silver from exchange-approved warehouses. The money doctors run scared. If futures trading in silver is unsustainable and must end in default, then the flimsiness of the house of cards built of irredeemable promises will be exposed for all to see. Following the last contango in Washington the money doctors, led by Helicopter Ben, will follow the example set by the 18th century Scottish adventurer John Law of Lauriston. He left Paris in a hurry. In a disguise.