Thoughtful Money with Adam Taggart

SPECIAL REPORT: Silver Price Explodes Above $50/oz -- Is It Too Late To Buy In? | Andy Schectman

Oct 14, 2025
In this discussion, guest Andy Schectman, a veteran precious metals dealer and co-founder of Miles Franklin, dives into the recent surge in silver prices. He explains the dynamics of backwardation and the alarming physical shortages driving the market. Andy explores risks with paper claims versus physical metals and warns of a potential run on physical silver. He also highlights the growing demand from both institutional buyers and anxious retail investors, while sharing practical advice on how to navigate this volatile landscape.
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INSIGHT

Paper Promises Breaking In Silver

  • Andy Schectman says current silver market shows unprecedented backwardation that signals extreme delivery stress and depleted inventories.
  • He argues this exposes frailty of paper promises and is decisively bullish for physical precious metals.
INSIGHT

Rehypothecation Creates Systemic Mismatch

  • Andy explains rehypothecation created multiple paper claims on the same physical silver and trading volume far exceeds float in London.
  • He highlights soaring lease rates and daily contract volumes showing a systemic mismatch between claims and deliverable metal.
INSIGHT

London Is Epicenter Of Delivery Stress

  • Delivery stress is strongest in London while COMEX sees rising deliveries, signaling buyers demanding immediate metal rather than rolling contracts.
  • Andy says standing for delivery and high delivery numbers indicate urgent physical demand overpowering paper markets.
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