Of course the guy demanding the gold would be either Indian or Chinese or the US retail coin buyer -- people like that. And all of a sudden people will realize that the demand was always way above supply. And the same thing for silver. I mean look at what India has done in the last two years. They’re buying 30% of the silver market up from 10%. How is that possible?
You could buy an extra 20% of the market and have the price go down. It’s mathematically challenging to come up with that conclusion unless somebody in the paper market just wants to make the price whatever he wants to make it. Somebody who has got deep pockets can make the price do anything he would want as long as nobody asks for the silver. So I’m pretty convinced that the physical argument is a very powerful one.