I deal in the physical metals market, I am telling you the buyers are not mom and pop. Except for March -May. They have been getting out or not buying as much. The consistent buyers are larger investors over the last 2 1/2 years and they continue to buy today. That money flow can really move this metal. Just like palladium, the paper market will begin to have a diminished impact. Silver is tight if you are trying to buy in size. The Comex system is not a physical delivery mechanism. Being in the financial business since 1992, my sense is that this whole "allocated or pooled" metal system will fail the moment 10%-20% of the investors ask for delivery. I am talking most well known structured programs will fail. Just like Mike Green explained about Vanguard, there is no exit strategy for this industry if physical metal begins to be sought after.