I don’t remember ever seeing anything like this before and this has real implications for the dollar because one of the other interviews that we did a while back I was saying if silver stays in a prolonged period of backwardation, what we really have to watch for is if gold goes into backwardation. Because if gold goes into backwardation then it’s all over for the dollar.

That’s a flight out of fiat currency and a flight into precious metals. And the fact that we’ve got silver at a record length in terms of backwardation, and even though the price has risen as much as it has, we’re still in backwardation. It’s really stunning.

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/4/2_James_Turk.html