No Way Out for SILVER Shorts as They Desperately Cover - 'I'm a Buyer': Ed Steer
Steer argues that reported inflation understates the problem, that heavy sovereign debt is weighing on currencies, and that fiat currencies have historically lost value through inflation. He characterizes precious-metals declines as efforts by large traders to cover shorts, pointing to silver outflows, concentrated short exposure, and options positions. He sees the current sell-off as a buying opportunity and expects China’s gold disclosures and imports to draw attention, while presenting his estimate of its undisclosed reserves as unconfirmed.