Yesterday's 19% discount to NAV broke the record set on 10/10/2008, the day the TARP was introduced during the Global Financial Crisis. Before Friday's collapse, SLV had about $60 billion in assets. The chart above shows that the silver market is now broken, meaning there is a high risk that a financial firm heavily involved in this market is either bankrupt (causing the large discount above) or in serious trouble (due to the large discount above). It doesn't mean we will automatically see a firm fail, but the silver market needs to correct itself quickly; otherwise, it probably will. Quickly correct itself = Monday or Tuesday.

@judejinjin @Chickendaddy5 Oh, and the bottom of page 20 from the prospectus

To be clear, I said the "silver market is broken," not $SLV is broken. ETFs always trade at premiums/discounts. That does not mean something is wrong with the ETF. Instead, extremes signal problems in the underlying market. Like this chart, the biggest move in 75+ years.

@supercatmy And the retweet is from Eric Balchanus the Bloomberg ETF expert, using a Bloomberg Chart