The reason being, that “Admiral Sprott” (yes, it was I that coined that term four years ago) finally pulled the trigger on a secondary offering of the Sprott Physical Silver Trust (ticker PSLV) this afternoon, directly after the NYSE close.

Per today’s article title – let alone, on a day when Precious Metals prices surged, whilst commoditiesplunged; along with stocks (such as DEUTSCHEBANK and GLENCORE, mere days after the first quarter ended!); Treasury yields, high yield bonds, and Central bank credibility – such an event is a MASSIVE, MASSIVE blow to not just the gold and silver Cartel, but “the powers that be” in general.

To wit, in my February 2013 article, “PM bullion closed-end funds, helping or harming?,” I wrote of how the Sprott (PSLV and PHYS) and Spicer (CEF, SVRZF, and at the time GTU, which has since been acquired by PHYS) bullion trusts had seen their premiums to net asset value (NAV) nearly disappear. In it, I warned that the Cartel, deathly afraid of what these funds had done for physical demand, would do anything in their power (i.e, limitless naked shorting) to push their respective prices well below NAV; and thus, prevent Stefan Spicer and “Admiral Sprott” from issuing new shares, and using the proceeds to purchase large amounts of metal in the market. In my view, PSLV’s October 2010 IPO was theprincipal event catalyzing silver’sinitial run to $50/oz (from $24/oz at the time the deal was announced), as it exposed just how tight the institutional market for actual physical silver was.