200 Million Ounces of Paper Silver Traded in 1 Minute Friday-FEB15-2013
Over a 5 minute period from 10:32-10:37 AM Friday, a massive volume spike (approximately 40,000 contracts) coincided with silver’s waterfall to $29.75- a fairly common occurrence during major cartel silver raids.
Astonishingly however, 2 minutes after silver marked it’s low at $29.75, approximately the same volume traded over the next minute- spiking silver .15 off it’s low.
It appears that a major buyer stepped in and took on the cartel at exactly 10:39 am on Friday 2/15 as nearly 40% of the day’s volume traded over a single minute.
To put this number in perspective, 200 million ounces is 26.2% of 2012′s world silver mine supply of 761 million ounces!
jai, are you too stupid to understand that if everyone actually bought "PHYSICAL" silver during these takedowns, they wouldn't happen anymore??
EXK, GLD, AG, GDX.......they're just all paper silver too. Do you even have any stock certificates from EXK....not sure, but I'll bet you can't get anything but electronic registration and even if you can, probably 1% of you do that. Thus it's just a piece of paper or even worse a binary number in an electronic account.