To: TheBusDriver who wrote (3188 ) 12/20/2000 9:29:20 AM From: Raja Read Replies (1) | Respond to QUOTE: My "proof" of the amount of silver leasing is as follows. First off, noone denies silver leasing exists. Just what the amount is. We also know it's cumulative, since silver, like gold, loans are never paid off net-net. So we are talking about an amount that has grown over the years. I claim the most reasonable answer to the very legitimate question, "how can silver prices be so low, with such a long term deficit?", is that leasing has funded the physical deficit. Since, there is a reported cumulative deficit of 1.5 billion ounces over the past decade, saying the amount of cumulative leasing is 1 billion ounces, seems reasonable to me. In addition, with a handful of mining companies ( ABX, Pasminco, PDG, and a few others ) you can get to 100 million. The problem with silver leasing, is it's not just the miners, it's the fabricators and users. I was able to verify, from a Philipenes CB press release a couple of years ago, they had maybe 300 million ounces of silver leased out. In addition, because silver is so cheap, it takes a lot of ounces to make a decent dollar amount, so that it's worth it to the banksters. A billion ounces of silver is only $5 billion. Compared to gold, for instance, with over $50 to $100 billion out on loan ( 5 to 10K tons ) . If you think my numbers of 1 billion ounces, or 5 billion dollars, are out of line, let me know why. kitcomm.com
