“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.”
“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.”
“At our present production and inventory levels we currently anticipate that we have the ability to meet our obligations.”
“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.”
“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.”
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