“Stay long precious metals” …
I’m beginning to think that’s Graeme Irvine’s mantra.
He’s the business columnist on Longer Life’s Bourse page, and I’ll leave it to you to discover his reasons for this four-word chant. Amidst Graeme’s siren calls, I’ve taken notice of his recent daily listings of silver transfers. It seems that HSBC-Hong Kong is in the process of accumulating a substantially high percentage of the current market inventory. The range is something like 60%, an achievement I find as breathtaking as it is intriguing.
Why would that much of the world’s investment-grade silver be moved to one depository? So far, I’ve not been able to find anyone willing to provide an answer. The accumulation is public knowledge, so I’m not suspecting a conspiracy.
I think most investors recall the Hunt brothers’ clumsy attempt to corner the silver market three decades ago — driving their Texan empire from billionaire to bankrupt within eight years — and wouldn’t think of trying to duplicate that stunt.
Super-investor Warren Buffet is, of course,...
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