Seems like the Terminator was made in Asia, pretty much like anything else theses days..

The last time Eric King's London source spoke up, and determined the $25.50 threshold as that past which a massive squeeze was coming, he/she was spot on. This time we learn that Asian demand for physical silver continues to be relenteless, the squeeze on the shorts will not end, and that nobody but the Fed-backed banks continues to short the metal (and if exchanges are enforcing margin changes how about changing those position limits, eh CFTC?). In other words, rumors of silver's death appear to be largely exaggerated.

From King World News:

The contact out of London has updated King World News on the Asian buyers which have been squeezing the shorts in the silver market. The London source stated, “There is an insatiable appetite for physical silver here and the shorts know that, the shorts know they are checkmated. The Asian buyers are layering in bids to take advantage of bear raids in the paper market which have been used to shake out the weak hands.”

Asian buyers were able to pick up silver at a discount at the lows of yesterday. They are continuing to buy today and tomorrow. People have to remember that spot trades 24 hours a day, so as the shorts raid the market, physical buyers already have orders in to buy tonnage of silver at a time on that weakness.

As I said to you the other day, the locals which were short with the banks were overrun when the price of silver stabilized just above $25.50 for a few hours. The local traders were margined out and silver moved over $1 higher later that same day.

In other words, the only entities that are left short here are the Fed backed banks. Nobody in their right mind would be short here.

Spot has been trading in front of futures here in London all day. We have been in backwardation all day long on the LBMA.”

So the Asian buyers are enjoying this weakness in the silver market?

“Of course they are. $30 is just going to be a small pause along the way to much higher prices.”