Wall Street always wants people to focus on the paper products they sell, and in doing so, try to establish false prices for commodities such as gold and silver.
Fortunately, those who own physical metals are usually not fooled when the paper prices fall, or rise based on rumors and manipulation. This can be expressed in no better terms than backwardation.
Take for example Eric Sprotts PSLV etf which is truly backed 100% with physical silver. Even as the futures price at the CME and NY markets have fallen some 30%, the premium for the actual physical silver has JUMPED 30% to equate the actual price value vs the paper price.
Courtesy of Zerohedge