a sign of the collapsing dollar;

When silver surged to multi-year highs, veteran bullion dealer Andy Schectman didn’t see just another price move—he saw a rupture in the foundation of the global metals market.

In a wide-ranging interview last week, Schectman argued that what’s happening now represents the physical market finally “calling the bluff” of decades of paper manipulation.

“I’ve never seen anything like this,” he began, emphasizing that this was not mere volatility. “Backwardation… shows extreme delivery stress… It’s the market exposing the shortages of physical silver, the frailty of the paper promises.”

For Schectman, “backwardation”—when spot prices exceed futures prices—isn’t just a technical quirk. It’s the alarm bell that the supply of real metal is running thin. He believes the era when investors could comfortably rely on “paper silver” derivatives is ending..........more........