Silver Market Collapsing, Dealers/Mints Shutting Down | Andy Schectman

Andy Schectman of Miles Franklin reports from Aruba that the London silver market is experiencing an unprecedented liquidity crisis, with massive backwardation and lease rates soaring above 100%, surpassing even the 1980 Hunt Brothers silver squeeze. Schectman describes premiums on U.S. Silver Eagles and Gold Eagles skyrocketing as inventories across mints, refiners, and wholesalers dry up, creating what he calls a “broken market.” He warns that the divergence between spot and futures prices is making it nearly impossible for dealers to hedge, leading some major wholesalers to temporarily halt trading. According to Schectman, the stress on COMEX and LBMA signals a global shift toward physical metals as investors lose faith in paper contracts. He advises buyers to cost average their positions rather than wait for a pullback, emphasizing that this time “feels different” and may mark the beginning of a systemic shift in the precious metals market.

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INTERVIEW TIMELINE:
0:00 Intro
1:30 LBMA liquidity squeeze
4:00 Premiums skyrocket, dealers shutting down
24:07 Weekly specials
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