Your mistaken assumption is that the SLV paper product you buy is actually backed by an equal amount of silver. It's not. Its actual value is a rounding error from toilet paper.
If you can't/don't want physical, go with PSLV. They actually do back it like you describe.
no one backs it like they are supposed to. They don't have to because of how the agreements are set up. There is literally NO ONE that audits the holdings to make sure the physical is in store. No one. If you knew you could fudge the numbers and no one was going to audit you, what would you do?
Trusts are complete fucking scam. I can't believe after 1989, 2001 (enron), 2008, and now, people still think those bastards have a conscience. They have none. Zero.
Watch the movie "The Big Short" if you haven't yet. It's fucking excellent. It is the truest depiction of Wall Street ever made. Ever.
Your mistaken assumption is that the SLV paper product you buy is actually backed by an equal amount of silver. It's not. Its actual value is a rounding error from toilet paper.
If you can't/don't want physical, go with PSLV. They actually do back it like you describe.
no one backs it like they are supposed to. They don't have to because of how the agreements are set up. There is literally NO ONE that audits the holdings to make sure the physical is in store. No one. If you knew you could fudge the numbers and no one was going to audit you, what would you do?
Trusts are complete fucking scam. I can't believe after 1989, 2001 (enron), 2008, and now, people still think those bastards have a conscience. They have none. Zero.
Watch the movie "The Big Short" if you haven't yet. It's fucking excellent. It is the truest depiction of Wall Street ever made. Ever.
The silver is stored by jp morgan. Those guys that got fined 920 million for silver manipulation.
If you believe they actually have the physical, you deserve to have your wealth turned into toilet paper.