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Gene Arensberg: SLV exceeds its silver storage capacity
7:22p ET Monday, March 30, 2009
Dear Friend of GATA and Gold:
An abbreviated version of Gene Arensberg's "Got Gold Report," which now appears in full in Brien Lundin's Gold Newsletter (http://www.goldnewsletter.com), has been posted at Stockhouse and discloses that the volume of silver claimed to be held by the exchange-traded fund SLV now exceeds the storage capacity available under the fund's custodial agreement with the London office of JPMorganChase. Of course some silver bugs (and free-market bugs) will consider this only the most technical of problems, since, while silver is a very bulky thing that can fill whole warehouses, a contract claiming to store silver can fit comfortably inside a file folder.
The abbreviated version of the "Got Gold Report" is headlined "SLV Exceeds Its Silver Storage Capacity" and can be found at Stockhouse here:
http://www.stockhouse.com/Columnists/2009/March/30/SLV-exceeds-its-silve...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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