Apparently Silver is in contango now, and not in backwardation. This is complete shit, and should be trusted with the same degree as if you were dropping your kids off at Blythe's house for the day.
Backwardation, is essentially the investment rate - the lease rate. But lets look at things closer shall we?
If I were JP, and caught in the worlds largest short conundrum know to man, I would have to manipulate ALL data to make the sheep sell back their metal for paper. How would I do this?
Simple, I would do two things: First, I would bid up the amount of COST in the lease rate. Secondly, by painting the tape, I would just go out and buy the longer months, and bid them up temporarily knowing full well it means shit to begin with.
In conclusion, these rates are what the Banks want them to be.
Do what you want with your silver, I will be buying more, and I still understand silver is still in 'real' backwardation. If this is too much conspiracy for you, move along...this board is not for you.