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nowon brought this re silver

WillA2

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#82
SLV is probably about to pull out another roll of paper. At this rate, wall paper will be from the Atlantic to the Pacific.
 

savvydon

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#86
Sumbody explain the above to the site dummy?
Well first they would have to read the tiny figures to the site blind man, who can barely make them out...

My understanding is that this figure refers to the amount of contracts that were actually delivered in metal. Most futures contracts just expire with someone in the money and someone out of the money. However, like oil contracts, another option is to just take what you have bought when you took the position. In this case, off loading silver may eventually strain the system when we see how much actual silver is in Comex possession as opposed to how much is traded back and forth.

That is the idiots version. Best I can do.
 

solarion

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#87
Sumbody explain the above to the site dummy?
Let me know when he gets here, and I'll give it a go. ;)

I've not gone over the numbers posted above, still sipping coffee after tying one the eve last, but I can tell you that I'm carefully following cumulative gold and silver futures contracts standing for delivery this month at the crimex and this goes right along with that. The MTD(Month to Date Delivery) totals were updated rather late last night so there's some fresh info available and since I ran it down and did some back of the napkin calcs last night, I'll copy and paste that here for reference...then go over the divisions posted in the spreadsheet above. I'll tell you the functionality of the crimex is the most opaque, intentionally confusing, obscure "market" one can imagine...so at the end of the day, nearly everyone is just trying to put 2 + 2 together and get an answer that makes sense.

"MTD report just updated...another 115 Ag contracts standing for delivery making 2103(10,515,000 oz) cumulative. Gold added 343 more for a total of 34,299(3,429,900 oz)."

1613834973960.png

Most futures contracts just expire with someone in the money and someone out of the money.
That is the idiots version. Best I can do.
Good stuff, and spot on with one exception. Futures do not have strike prices like options.
 

solarion

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#88
Most futures contracts are rolled over to following months with every other month being a "delivery" month. Typically very few contracts stand for delivery, and the number that do can indicate trustworthiness sentiment within the metals industry. Essentially the contracts are placeholders and if things are functioning nominally then very few pay the hefty premiums to take physical delivery from the crimex. If/when larger numbers of contracts as a proportion of the total stand for delivery, as happened last year, then people begin to get concerned that physical cannot meet demand...particularly for the silver contract(5k oz) and the gold contract(100 oz).
 

ZZZZZ

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#89
Is there a way to tell from those Comex reports how much silver was actually delivered and withdrawn from the warehouse, vs. how much stayed in the warehouse and they just changed the ownership tag on the bars on the shelf? Is that considered a "delivery?"
 

solarion

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#90
Is there a way to tell from those Comex reports how much silver was actually delivered and withdrawn from the warehouse, vs. how much stayed in the warehouse and they just changed the ownership tag on the bars on the shelf? Is that considered a "delivery?"
In absolute terms? No. That information is available if one digs enough, but, as ever, it's only as useful as the trust one has in the entity issuing the information. For starters, comparing the amount of open interest to the cumulative number of contracts "delivered" will feed you the percentage that were allegedly removed from crimex vaults. A running total charted vs former months can give one a sense of demand for physical vs complacency(trust) in the current rigged system. The numbers in the spreadsheet above, separate eligible metal(warrantless metal for delivery) vs registered metal(metal for which a warrant has been issued). Did I mention that this crimex gig is convoluted as all hell?

1613837618983.png


There's now data for "Thursday final" and "Friday final", but this chart is not updated. Thursday there were 25 deliveries and Friday there were 115. With only a few days remaining it's possible to act with more and more clarity.
 

solarion

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#91
Since crimex deliveries must theoretically come from "eligible" inventory the fact that open interest remains at 67,884(339,420,000 oz) only a few days before the delivery deadline is significant. While I guarantee not all of those open contracts will stand for delivery, it illustrates the potential problem the crimex has with sourcing physical metal, particularly Ag and Au if this level of demand continues.

Eligible = 251.1m oz in the most recent report linked on twatter, which is < the potential delivery amount. Further, I think what the poster(Bob Coleman) is trying to emphasize(and doing a poor job of explaining) is that crimex silver inventory is being moved from warranted inventory(registered) to warrantless inventory(eligible) prior to delivery. This can be seen with the drop in registered vs eligible totals from week over week.

The crimex is very plainly being drained and if this continues they'll default. This delivery month or next, but something must change in the physical supply and demand equation or the crimex is effed.
 

ZZZZZ

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#92
Could Silver "Do a Palladium"?
February 17, 2021

David Smith
The Morgan Report
436Shares

Palladium was manipulated for years. It had the largest short position relative to its size, while physical demand rose inversely to decreasing supply.
In 2018, demand became so large that it overwhelmed the shorts.

Physical palladium could not meet the market's needs and prices exploded. Shorts eventually decreased their positions until they got to a more sustainable level.

For many years, the platinum/palladium ratio, shown on proprietary charts, averaged 2.4 to 1 in favor of platinum, stretched as high as 5:1 in 2009, but then collapsed for a decade into 2020, to where 1 ounce of palladium would buy 5 ounces of platinum!

Today, much like what was the case with palladium, the concentrated short position in silver is unsustainable.

Ted Butler has been writing about it for two decades, and we can be forgiven for thinking it will never change. But at some point soon, it appears the shorts WILL be overwhelmed.

Indeed, the rats are already leaving the sinking ship.

Witness Scotia Mocatta's exit, and if Ted is correct, J.P. Morgan's has reversed its long-standing position of being massively short silver, to going long.

Gold Silver Ratio over 50 Years
Through the 2020 Spike High


The "normal" Gold/Silver Ratio is set to fundamentally change.
Silver's price ratio to gold briefly hit 15:1 in 1980 and set a new record in March 2020 with a spike to about 125:1. But its "normal" range oscillates between 40 and 80.

Like a stone tossed into a quiet pool, the rings of effect will spread out in ever-widening circles, when (not if) this comes to pass.

As Willem Middelkoop, Author of The Big Reset says, "If silver breaks, then the gold manipulation might break as well, and then you will have a real crisis within the monetary system, because then the dollar system is at risk... This is what can happen, and I believe will happen to silver...

There are structural changes for silver in the supply/demand metric, projected growth of new use cases, degradation of a decades-long pattern of unrestrained "paper silver" futures and mining share selling – not to mention changing investment demand ratios compared to industrial use.
Therefore, it's probable that – just like the gold-to-platinum, and platinum-to-palladium ratios – silver is set to massively outperform gold.
The First Stage: Just moving the ratio into the lower range of 40:1 gives us all-time nominal highs and vast outperformance for silver.

The Second Stage: Turning the gold/silver ratio on its head. Another underappreciated factor is that Bitcoin's meteoric rise, if sustained, could blunt global gold demand.

Let's say that silver, as factored above, goes through the roof and briefly hits $500 the ounce while gold hits $10,000. Doing the math gives us a 20:1 ratio.

Then if silver recedes to $250 you would have a "normal" 40:1 ratio. Under this scenario, primary silver producers would be "digging up money" in exchange for fiat!

Meanwhile, it's not a good idea to "challenge" the COMEX.
In The Art of War, Sun Tzu cautioned against attacking an opponent head on. He also said you should set the field of battle so that you had already won before the conflict began.

This is exactly what the denizens at the "CRIMEX" do, and why they continually defeat all comers.
They can:
  • Change the rules (-see The Hunt Bros. 1980)
  • Alter margin limits and sell unlimited paper silver.
  • Enforce a trading rule of "offset positions only."
  • "Settle" silver obligations with fiat.
A (much) better way to "un-game" the silver system.
Uber-trader "Plunger" writing on Rambus1 com, comments: So why the strength in silver? I think it’s because the bullion bank silver cartel is in the process of unraveling and its ability to maintain its concentrated short position is entering into its last days...despite the army of silver detractors out there, the charts signal to me that silver is on the verge of a breakout..."

The WallStreetBets-Robinhood-GameStop fiasco poked a hole in the vaunted Masters of the Universe's game plan.

The losers are learning the old winner's tactics and bringing new tools to bear.
Don't try to win by holding "faux silver" positions like the ETF SLV.
Don't buy silver from trading houses that charge you for an empty vault while they write derivatives and lease out what they do have.
Instead…
  • Attack their flanks and underbelly by purchasing .999 fine physical silver.
  • Add what you can on a regular basis - what happened a few weekends ago was just a preview.
This will keep the pressure on the paper pushers as the ongoing effect of declining silver production through lower grade and a dearth of big discoveries takes silver stores into their fifth consecutive year of decline... just like what happened to palladium.

News broke this week that BlackRock, the world's largest asset manager, sold a third of its GLD shares in late 2020 and put a big chunk of the proceeds into the silver ETF, SLV.

It sure looks like the dominoes holding up the old way of doing things are starting to fall. If even BlackRock is now "going for the silver" shouldn't you?

https://silverseek.com/article/could-silver-do-palladium
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solarion

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#95
Catchy headline is catchy. Austrolib was wearing their thinking cap.
This would constitute an existential threat to the dollar as a monetary reserve.
I would argue that it also constitutes an existential threat to SLV and SIVR's custodian, irrespective of their weasel language frantically written into their prospectus' in the middle of the night without telling anyone, but in large part that depends on some form of regulatory intervention...which admittedly seems unlikely. ...at least with respect to penalizing criminal banksters. Regulators are just as likely to prosecute SLV's victims for having the audacity to stack SLV "shares" without knowing it's operated by a criminal enterprise.

1613842898239.png


https://seekingalpha.com/article/44...-s-why-you-should-buy-physical-silver-instead

1613843828894.png


https://seekingalpha.com/article/4405065-pslv-vs-slv-battle-for-best-silver-etf

I doubt anyone will be shocked to find out that while paper gold prices roughly track the amount of physical metal reportedly poured into gold ETF's vaults, the same is not true of paper silver prices relative to the amount of physical silver allegedly poured into silver ETF vaults. Look at the massive divergence that occurred as the banksters regained control and crushed paper silver into the ground following their short squeeze in 2011. Pity there's no regulatory agency monitoring this blatant market rigging or doing anything more than dispensing fines when clear evidence of racketeering and manipulation is found.

It's no wonder JPM is putting fresh weasel language into SLV and SIVR prospectus' while physical metal dries up.

1613857496618.png


http://goldchartsrus.com/newsblog/i...ansparent-Precious-Metal-Holdings-Gold/Silver
 
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solarion

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#98
Sprott's fund is really turning the screws on the supply of 1k oz delivery bars YTD.

1613926684247.png


...and it seems to be having an impact. Lease rates. lol Like silver is a car or a tractor...what a joke. Leasing a commodity just increases the number of claims to the same physical. Nothing but bankster scams masquerading as legitimate business.

1613927488005.png


Seems there's a chain twat kind of thing going around where some whales are promising to stack shares of PSLV based upon new followers gained over the weekend. It appears to be spreading fairly wide and could help to continue the run PSLV has been on YTD.

1613929143576.png


...and now it's being tracked/spreading on WSS, presumably to cause more chain twats. I myself, do not twat, but I find it interesting that this is spreading to twatter.

https://www.reddit.com/r/Wallstreetsilver/comments/los94v
 
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ZZZZZ

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solarion

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Gnarly.

1613949838676.png


In addition to significant remaining open interest going into delivery week(59,937), there are now 345(1,725,000 oz) contracts standing for delivery in May. Never before have I seen this happen this far in advance of a delivery month. EFP = Exchange For Physical.
 

solarion

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<SLV>

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nowon

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Big dealer talking about being unable to get 1000 oz bars....the Comex is bracing for a potential run on physical delivery. Section starting ~49 min

 

ZZZZZ

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Here we go, the Deep State, running cover and trying to boost supply.

I think the rest of the article is behind their paywall. (Like hell Mikey Bloombag is getting even a zinc penny from me.)

It’s a Good Time to Unload Those Silver Coins and Candlesticks

Alexis Leondis Bookmark February 20 2021, 6:30 PM February 21 2021, 3:04 AM (Bloomberg Opinion)

Silver won't be minting the next round of Reddit-trading millionaires, but that doesn't mean now isn't a good time to sell the family silverware, candlesticks and coins stored in the back of the closet. At $27 an ounce, the spot price of

Read more at: https://www.bloombergquint.com/gadfly/how-to-sell-your-silverware-and-not-get-ripped-off
Copyright © BloombergQuint
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solarion

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1613964335974.png

1613966873340.png

1613967017892.png
 
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solarion

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Silver remains in beast mode. Beautiful chart since flipping the switch last March.

1614026614479.png


...now if only big bro would shake off the groggy and pull its weight. "Damn you yellow silber...why you no keeping up?!?" GSR down to 64.2.
 

BigJim#1-8

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