I don't regularly monitor Crimex warehouse Silver inventories but last time I checked which is not all that long ago, levels were in the neighborhood of 110 - 120MM ounces. It is a well-known fact Silver mining production has remained flat for nearly a decade (peak Silver?) at 550MM ounces per year, so pray tell how have Crimex inventories managed to grow another 40 Million ounces over the past 12 months?

It's a feat in itself just to maintain current inventory levels in the face of record demand, let alone build huge stockpiles. So where does all this new Silver come from? And where the heck is Barclay's sourcing it's Silver from to back outstanding shares? Based on the growth of these 2 inventories alone, I'd estimate these 2 paper pushers have managed to accumulate a hundred million ounces of physical in the past year despite no increase in mining output.

Bottom line is this huge increase in inventories just does not match the ability of the industry to deliver real physical metal, which is why I firmly believe these sources simply cannot be trusted to hold anywhere near the vast quantities of Silver advertised. Please do enlighten me or admit we are all being scammed big time.