THE FORCES THAT WILL PUSH SILVER OVER $100
By SRSrocco
SilverDoctors.com
NOVEMBER 18, 2012
There are tremendous forces at work that will push silver over $100 an ounce.
According to the 2012 World Silver Survey, total global silver investment demand has risen from only 31.6 million oz in 2002 to a staggering 282.2 million oz in 2011. As world economic fiat based monetary system continues to deteriorate, investors are taking delivery of physical silver rather than holding on paper contracts that may not be backed by any metal whatsoever.
This has created a run on the LBMA… the largest metal exchange in the world.
Evidence of this can be seen by the huge increase of U.S. silver bullion exports to the United Kingdom. In 2011, the U.S exported a mere 19 metric tonnes to London. However, in just four months (May-Aug), the U.S. has exported 291 metric tonnes to the LBMA vaults in the U.K.. The United States has exported more silver bullion in the first seven months of the year than it did in all of 2011. Silver bullion shipped to the United Kingdom rose from 3% of total U.S. silver exports in 2011, to a staggering 42% of the 700 million oz exported so far this year.
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