Turk - Record Silver Backwardation Spells Danger for US Dollar

``Turk stated, “We’re now at a record backwardation in silver in terms of length of time. I think what we need to do is compare what is happening now to 2009 when silver was in backwardation the last time. Over a period of just about two months silver rose 40% from approximately $10 to $14, and that rise in price eliminated the backwardation... his time Eric, we’ve gone from $27 to over $37, again about a 40% rise in price and the backwardation is still there. It hasn’t disappeared. So what that suggests to me is that there is tremendous physical demand for silver. This is a very, very rare event and it’s very bullish.''