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Sprott Physical Silver Trust ET (PSLV) Message Board

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  • kiddynamiteblog kiddynamiteblog Feb 3, 2012 6:15 PM Flag

    Ted Butler's Reply

    Butler's reply as to what the "problem" is, is factually incorrect. Undeniably, factually false.

    "Two owners have simultaneous claim to the same original share and the silver backing it. The only problem is that there are two claims on the same silver"

    false. that's what Silverbars spent 8 messages trying to explain to you in the other thread titled "Paper PSLV?"

    If you lend out your SLV shares, you forfeit your claim to the silver backing it. The borrower inherits that claim, and when he shorts the shares in the market, he transfers that claim to the new buyer.

    If you want your claim back, you can recall your stock loan, at which point the short will either 1) buy back his short 2) borrow the shares from someone else or 3) create new shares of SLV by delivering bullion to the Trust.

    In any case, it doesn't matter how many times Ted Butler repeats falsehoods - they don't get any truer by repetition.

    If Butler refuses to see this, I can’t help him.

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