From the Edelmetall & Rohstoffmesse precious and resource metals show in Munich, David Bond, editor of the Silver Valley Mining Journal, muses about the black market that has developed in the precious metals. Bond writes:
"What we have is what's shaping up to be a state-set price of $10 for 1 troy ounce of triple-fine. This price, like Hugo Chavez's milk price, tells the cattle that the U.S. dollar is OK. The reality is a pile of Munichers and Londoners swarming around to buy whatever silver they can at $15 an ounce while they still can. Sean Rakhimov is right: This is a black market right out in the open."
Bond's commentary is headlined "Munich Musings" and you can find it at GoldSeek's companion site, SilverSeek, here: