Nick Ward of Gold Bullion Partners in London reported that the Bank of China is currently dumping trillions and trillions into the market, the biggest money printing event in history. China’s M2 money supply is now over 48 trillion [M2 money is money that can be accessed easily and quickly]. That is more than double the entire US M2 money supply.

China is buying commodities and assets, trading their paper money for real things such as gold, silver, copper, etc. Meanwhile, western banks are are reportedly sitting on massive silver short positions – an estimated 4.4 billion ounces short. What happens to them when the price goes up?

Ward said that the global mine supply every year is about 800 million ounces, and that means these banks are shorting about 550% of the world’s annual silver production.

Also, 4700 contracts were standing for delivery in January on COMEX – each contract represents 5,000 ounces of physical silver, about 23 and a half million ounces, all demanded in in the first 3 days of the month when people expect it to be quiet.