Why These Gold Standardites Are Wrong

by Keith Weiner

On Friday, the price of silver went up from $24.25 to $25.20, or +4%.

Let’s look at the graph of the price and basis (i.e. abundance) action.

[…] For the first part of the day, the action is from speculators, for the most part.

Then around the time that the US west coast comes online, we see a continued rise in price but a drop in basis back to where we started.

Folks, this is what buying of physical metal looks like: prices rises by about 30 cents accompanied by a drop in basis from about 2.9% to just over 1.9%.

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