Rochester, NY 8/5/2009 8:31:19 PM
SLV - Silver Inaccurate Inventory Documentations
ISHARES SILVER TRUST
ISHARES SILVER TRUST, SLV
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iShares Silver Trust and London-based ETFS Silver Trust physical silver funds both have inaccurate records regarding the levels of physical silver inventory. The report states that there is significant duplication of silver and the actual amounts are lower than reported.
This indicates a high statistical likelihood of “systematic fraud or gross negligence” in the accounting of both silver ETFs. Since silver ETFs are now accepted forms of delivery on the COMEX proper accounting is the only way establish proper silver price discovery.
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