WHERE’S THE SILVER? Serious Questions Emerge As SLV Managers Look To Cover Themselves With New Disclosure
With investors becoming increasingly aware of the fraud and outright criminal activity taking place in the financial markets, serious questions are now emerging as the managers of the Silver ETF SLV just issued a new disclosure that made very little sense if the fund is indeed backed by physical silver.
February 14 (King World News) – James Turk out of London takes a trip down the rabbit hole that is SLV: Social media is abuzz this weekend about silver, Eric. It all started with a tweet posted by @bullionstar.
They noticed that SLV, the silver ETF, filed a new prospectus that included some startling language that was exceptionally frank. SLV has been in the spotlight because there have been growing doubts about how much silver it really owns, so the tweet fired up social media.
There have been various interpretations of the new SLV language offered through social media, with nearly unanimous agreement that it is a legal disclaimer. In other words, it lets the managers of SLV off the hook if the silver price starts rising and the price of SLV does not.
Here is what I believe to be the key new disclaimer:
“This could lead to volatile price movements in [SLV] Shares that are not directly correlated to the price of silver.”