Jim Willie is a "Gloom and Doomer" His rants may have some truth, but his conclusions and facts cannot be trusted. Yes there is a disconnect between ETF's and the physical market, but I don't see that as anything unusual. It won't destroy the market. Physical gold and silver goes into hiding when prices drop. You can trade the paper for short term profit, and accumulate physical for the long term.
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Anyway, I don't trust him.