In this Spaces, we discuss the growing tightness in the metals markets and how the problems with the debt system are starting to really reveal themselves. Premiums are getting out of hand and refiners are pulling metals off the exchanges. In the past, they would have been able to source metals elsewhere. Physical metal is in true demand with inflation not coming under control. David discusses the distortions in metals which are caused by derivative products. Commercial bars are now getting serious premiums. People are over paying for both metals and delivery. David has never seen the metals market so distorted as they are currently.