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James Turk: Silver in 'staggering' backwardation despite 20% rise

Section: Daily Dispatches

9:22p ET Friday, September 11, 2009

Dear Friend of GATA and Gold (and Silver):

GoldMoney founder James Turk's subscription newsletter, the Freemarket Gold & Money Report, has turned into an occasional public Internet posting, the Free Gold Money Report, and tonight it discloses that silver again has fallen into backwardation even though it has risen 20 percent in two weeks. This is "simply staggering," Turk writes, adding, "The possibility of a short squeeze in silver cannot be ruled out, particularly given its very bullish chart picture." You can find Turk's commentary on silver, along with some great charts, at the Free Gold Money Report site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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