From 2006 and Safe Haven
By Antal E Fekete
''People from around the world keep asking me what advance warning for the collapse
of our international monetary system, based as it is on irredeemable promises
to pay, they should be looking for. My answer invariably is: "watch for the
last contango in silver".
It takes a little bit of explaining what this cryptic message means. Contango
is that condition whereby more distant futures prices are at a premium over
the nearby. The opposite is called backwardation which obtains when the nearby
futures sell at a premium and the more distant futures are at a discount. When
contango gives way to backwardation in all contract spreads, never again to
return, it is a foolproof indication that no deliverable monetary silver exists.
People with inside information have snapped it up in anticipation of an imminent
monetary crisis.''
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