“The reality is that unrecorded inventories are huge. This is an old argument -- a bogus argument -- that has been presented for many years, but there is no long-term silver shortage.”
“If the system was not robust enough these fluctuations would have gone unrecorded.”
“Inventory is a big factor. Total primary inventories increased, but the gap explained by inventory changes is relatively small -- the key main driver is a drop in demand for heavy fuels.”
“The single most significant number is the inventory number. The rebuilding of inventories hasn't even started yet. When they do, it will be a major source of additional stimulus to the economy.”
“The reality is that everyone is always trying to reduce the level of inventory because everyone is forced to write-off inventory each year.”
“The U.S. inventory situation remains extremely tight, with total inventories still falling and gaining no ground on the five-year average.”
“At our present production and inventory levels we currently anticipate that we have the ability to meet our obligations.”
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