For many of you who don't know squawkbox (CNBC) many in the know call it "tout TV" and hold it in great distain. I listen as I am too cheap to get Bloomberg so catch it briefly in the morning before leaving for work. Today Joe mentioned in a slight aside that it is coming out about the banks silver manipulation to which the pretty gal anchor said, "you're kidding, that's a new one." She thought it was manipulating it up but Joe said they were trying to drive the price down. That was it and they moved on to more important news like how great the US economy is doing. As word starts leaking out the speculators may jump into silver thinking it will go up as the manipulators are exposed.....just my miniscule thought for the day.

Actually I think this is starting to show up in the premiums for the silver closed end funds. For example, CEF which is 50/50 gold/silver moved from a 5.3% premium with a close on Wednesday of $17.06 to a premium of 7.2% premium with a close on Thursday of $17.42. SBU a silver only sister which trades in Canada (pink sheets only in the US under SVRZF) moved from a 1% discount to a 2.3% premium (which is still lower than the premium needed to buy actual silver coins). Interestingly the gold closed end funds are trading at lower premiums to NAV with GTU at $51.09 sporting a 1.4% premium and Sprott's PHYS at $11.85 having a 3.58% premium. These are all buillon only funds with PM stored in the great country of Canada.