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Peter Spina describes the U.S. dollar as a debt-backed IOU note. He further highlights that it now features the signature of what he calls the King of Debt.
The statement draws attention to the symbolic nature of the currency and its leadership.
Spina has previously tracked shifts in silver-related securities. He recently reported that the SLV short position dropped 18.22% to 37.45 million shares as of late February. Earlier, he noted a 38 percent decline in SLV shorts to 45.79 million shares.