Not to be an ass, but is 150,000 + 570,000 ounces OUT OF THE VAULT from CNT and HSBC a significant number? After eons of paper silver and gold settlements via Crimex and LMBA, the physical metal being moved seems like a lie and unicorn...perhaps this time is different. After eons of paper settlements, they surely have plenty of physical in the vaults ready for delivery. (?)
PSLV is good, SLV sucks and is a bankster proxy.
The WSS crowd is a difficult read. Ivan started a really good thing. There was the silver squeeze in January that was significant. The billboards and the semi-regular raids is appreciated, but is it understood by most of those WSS jokers? There are definitely some very committed individuals there, and some serious whales, but many of the WSS jokers probably are hangers-on like the AMC stock raid...no longevity, no understanding of what financial freedom really means. Those that have been investing in PM's for a long time aren't foolish enough to fall for the traps, but are opportunistic enough to realize all side of the equation. IMHO.
This is big... industrial silver users are going straight to the miners to secure supply, even though it costs more than the suppressed Comex price. This is probably because the investor demand/silver squeeze movement is pulling so much physical out of the market that they are getting nervous about getting what they need.
Idk... guessing that bars sold to an industrial user are probably checked out before manufacturing. Vaults might have a SOP to spot check random assey bars before taking delivery, and depending on chain of custody to guarantee quality....that could start to be an issue as Comex starts going down the drain.
Kinesis Money is still very small potatoes but they are now holding 1.88 Million ozt of physical silver. In the November audit that was only 403k ozt. So definitely more physical silver moving in there too. No storage fees helps of course.
Physical inventory seems to be catching up a bit now along with things like lumber. That price below the COMEX mid-point is a first in a while. Plus I've seen a few sales on physical lately with smaller premiums lately.