Very interesting goldi!
From the ref site:
02-Feb-09 |
-0.16000 |
-0.17400 |
-0.13000 |
-0.05000 |
-0.02000 |
|
If those rates are really negative, they are not in backkwardation except between the 1 and 2 month rates. Further out they get less negative (or are in contango).
I often wish they would lend me a few million ounces of silver at negative rates. I would be glad to return to them less than they lent me in silver. Exactly what kind of idiot wants to offer negative rates? One who's motives are not profit, but manipulation.