Today one of the greats in the business told King World News that COMEX must immediately move to radically reprice silver higher.
February 14 (King World News) – Alasdair Macleod: “I think what we’ve seen on COMEX is virtually the end of COMEX coming into sight — certainly as far as the silver contract is concerned. Now the reason I say this is because the price is being set in Shanghai. There is absolutely no two ways about it, they (China) control the price. That is where the big demand is. And when whoever it is walks into London and stands for delivery or stands for delivery on COMEX, whoever they are I think there’s a pretty large Asian element in it. But you can see this is something which is no longer in our hands. We Westerners are accustomed to running things, this is not happening anymore. The only way the COMEX can get back into it is for the dealers on the COMEX to get the price higher so that there is no premium in China. I would go even further and say the price on COMEX would have to rise…to listen to Alasdair Macleod discuss the end of the COMEX price rigging scheme and China’s push for significantly higher silver prices CLICK HERE OR ON THE IMAGE BELOW.
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