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nowon brought this re silver

solarion

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Good stuff! I see Sprott stacked another mountain of silvery goodness. The crimex hasn't posted up cumulative # for the MTD report yet, but it could be interesting to see how much damage is being done, with options expiration tomorrow.

41k EFP. ;) I believe sc2103 is a crude oil contract.
 

nowon

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As PSLV keeps adding, SLV is shedding physical big time... might be banks taking delivery from slv to cover shorts?

It makes SLV look pretty bad, if trend continues it could crash the trust.

Screenshot_20210222-192125.png
 

solarion

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As PSLV keeps adding, SLV is shedding physical big time... might be banks taking delivery from slv to cover shorts?
Yeah probably "authorized participants" taking "delivery" of leased silver. lol Banksters like their paper peddling games.

1614051509887.png

It makes SLV look pretty bad, if trend continues it could crash the trust.
Let's hope so.
 

solarion

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Is the reckoning nigh for Silver shorts?
Clint Siegner
Money Metals Exchange
ANALYSIS | 2/22/2021 8:26:36 PM GMT

Investors are buying silver in vast quantities – in whatever form they can get it.

Smaller silver bugs are buying it a few ounces at a time from scarce retail inventories. Whales are accumulating millions of ounces via the silver ETFs or by standing for delivery of COMEX futures contracts.

Unless the bullion banks and other shorts can finally engineer a price smash, they may have to stop selling paper and start buying a lot of physical.

If the short sellers are naked, i.e., not hedged with long positions elsewhere, a genuine short squeeze driving prices higher could commence.

Over the past several trading days, the silver market has simply been resilient. Prices haven’t risen. More importantly, they haven’t fallen much either.

Long investors continue to buy as the paper sellers dump massive amounts of unbacked silver contracts on the market.

We’ll know by the end of this week, when the March futures contract goes off the board, how many of those contracts are held for delivery of actual bars.

It is expected to be a record

If the number of contracts held is 30,000, the demand would, in theory, completely wipe out the entire stockpile of registered bars in the COMEX vault system.

That almost certainly won’t be allowed to happen. The contracts provide the option of cash settlement in the event physical silver is not available in adequate quantities.

Widespread cash settlement would at least put the lie to the notion that a futures contract is a proxy for the actual metal. In a sense, that would be good thing.

The COMEX has been a tool for manipulating prices, creating price volatility, and discouraging ownership of the physical metal since gold and silver futures trading started at the exchange during the 1970s.

The number of “Registered” bars has been in decline in recent months and that trend is accelerating. The stockpile dropped by 5.5 million ounces last week.

COMEX bar inventories are being accessed by nervous speculators who want the actual bars and by mints and refiners who are scooping up metal to convert into retail-sized coins, bars, and rounds.

The situation doesn’t appear to be any better in the larger London physical markets.

Ronan Manly of BullionStar recently estimated there are only about 150 million ounces of silver not locked up by ETFs in London vaults. Much of that remainder may be owned by investors who will not be willing to sell unless prices go higher.

David Jensen, who watches the London markets carefully, noted that silver lease rates are spiking.

...more at link...

https://www.fxstreet.com/analysis/is-the-reckoning-nigh-for-silver-shorts-202102222026
 

solarion

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Crimex MTD report silver futures updated for Moon-day 2/22

Gold tacked on 334 contracts, bringing the total MTD deliveries to 34,633(3,463,300 oz).
Silver added 171 contracts, for a total of 2,274(11,370,000 oz) delivered month-to-date.

Open interest stood at 58,927 for the March contract on Friday. No update yet on how many contracts remain open.

Edit: Open interest stands at 48,100(240,500,000 oz) contracts, less 10,827.

Looks like silver got whacked downward by .40 @ roughly 4am. Someone sure seems to like to unload into very thin markets in the wee hours. Presumably they hate getting a good price for their contracts. A couple more smackdown attempts were met with buy orders.
 
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solarion

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lol

1614093761404.png


This estimate is for roughly 20k(100m oz) contracts left standing when the smoke clears.

1614097707809.png

1614097730402.png
 
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solarion

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Paper platinum was knocked down > 60 bux...nearly 5% at one point shortly after open. Think of the absurdity of these "commodity" markets and contrast that to legitimate markets for hard assets and real price discovery mechanisms. Guy goes into an actual physical metals trading market with a quantity of bulk platinum bullion. Now, even if the guy at the front of the line negotiates a solid deal to sell in quantity to the vendor at the table, it doesn't instantly lower the pricetag for the next 50 people in line waiting to buy, any more than it'd immediately lower the price the vendor was willing to pay for stock to the next 50 people waiting to sell.

Yet with these faux commodity markets, banksters can simply front run(spoof) the buy side of the order book to lower market prices...and then load up at significantly lower prices. It's all made much easier of course since they don't need to be bothered lugging around the "barbaric relics" allegedly underlying their derivatives...which of course "increases liquidity" while completely destroying proper price discovery mechanisms.

1614100233408.png


I stacked moar physical near the lows btw...thank you globex banksters and your options expiration paper dumping scams. ...have a crappy day banksters. ;)
 

solarion

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The crimex is in desperate need of being destroyed. We need functional price discovery mechanisms, not a sea of paper fictions readily tossed around on highly restrictive opaque elitist markets with rules consistently altered to benefit those with the deepest pockets.

Banksters have been able to manipulate the commodity market to their own benefit for far too long. It's high time we had prices set by physical trading hands from seller to buyer.
 

nowon

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The crimex is in desperate need of being destroyed. We need functional price discovery mechanisms, not a sea of paper fictions readily tossed around on highly restrictive opaque elitist markets with rules consistently altered to benefit those with the deepest pockets.

Banksters have been able to manipulate the commodity market to their own benefit for far too long. It's high time we had prices set by physical trading hands from seller to buyer.
The thing is that with the reddit and twitter campaigns, there are millions of new people becoming aware of how crooked these bullion banks really are.... unsustainable business model for anything resembling a capitalist economy
 

<SLV>

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The thing is that with the reddit and twitter campaigns, there are millions of new people becoming aware of how crooked these bullion banks really are.... unsustainable business model for anything resembling a capitalist economy
[sarc] Yeah. Kinda like how Q and Trump woke up 75,000,000+ Americans to the corruption in Washington. That made corruption unsustainable in anything resembling a democratic republic. [/sarc]

I don't think they will be overthrown that easily. In fact, I think the corrupt banksters would rather see the entire system destroyed than lose control of it.
 

Bottom Feeder

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Yeah, Yeah, Yeah, they will let the people have at it, then when it's 15 minutes of fame are over its back to SOS.

BF
 

solarion

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While I get the pessimism, and to large extent share it, the simple facts are these. The current debt dollar system, begun in August of 1971, is long in the tooth and WILL be replaced. I suspect sooner rather than later. To sustain the current system required massive manipulation in several markets...most notably sovereign debt, commodities, and forex.

1) The current fake bond market bull, begun in Oct of 1981 has reached the end of the road...due to interest rates hitting zero. In fact they're negative in real terms. Who wants to buy that crap? Well, a whole lot less people that can do maths...hence the fed's exploding balance sheet...currently $7.556t.

2) Commodities HAD to be suppressed or the system would have imploded as people fleeced by the debt dollar would have known...due to rising prices(price inflation). To accomplish this it was found that realistically only six vital commodities had to be suppressed. Gold, silver, and oil are foremost on that list.

3) Recall Nixon's excuse for taking the "temporary" measure of suspending dollar to gold convertibility in the first place? Right...those "evil" dollar speculators. Ya know, those nasty bastids that recognized the US was counterfeiting the hell out of receipts for gold...known as the US dollar.

This system will be brought down. The banksters are powerful, but not omnipotent. Right this very moment they're working to replace the buck as the world reserve currency, via their "great reset" because they know it's going to go the way of the do-do bird anyway.
 

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Just checked with my LCS. Had almost nothing out and said he has almost nothing. Did show me the serious premiums the dealer network is charging. Guy really doesn't charge enough, IMO. Anyway a roll of nice Morgan dollars and some avg Peace dollars was just about all they had.
 

nowon

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Just 2c.... it's not that anyone wants to see society crumble, it's that the globalist and DS agenda is already doing that through stolen election, fake virus, etc...the takedown of the dollar is happening in trillions of ways like it or not, it is what it is...

The silver squeeze movement is bringing new people into the sector and just might force some actual market reform. At least it will help folks save in case things get much worse.

The more people get into precious metals the less pain all the way around...the publicity from the movement is doing that very well...fwiw
 

Zed

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Lonnnnnng video. I'm about 1/3rd of the way in, great info.

Yeah but he is full of shit in the first part so I would not trust his judgement.
 

Zed

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Watching the Sideshow!
Zero in on the BS for us, please.
He claims the the London OTC market is an unallocated market. BULLSHIT. It is the largest physical market in the WORLD. It shifts virtually all the mine output. You can have an unallocated account with a bullion bank in London which is a different thing, many do this, but if you go OTC London and buy gold it is T+2 delivery of metal.

The Comex is the paper market, yet he talks like it is the delivery market. It's NEVER been that. The remarkable thing is the soaring deliveries on the Comex, not the fact that people are going to London for metal. This is the big development. This points to tighter supply.

That basically undermines all of his claims, at least to where I watched. He was twisting what was written, making this false assumption and extrapolating from there. It was just stupid US centric BS. London is the metal center of the world if you deal in real metal. It's the best place to operate the back end of a backed PM ETF. It's the easiest place to acquire, store and unload real metal. It's the center... sure there are connections to vaults all over the world and you can do allsorts of location swaps etc but you deal through London OTC.

He got the start so fundamentally wrong that I bailed out.

Sorry.

Anywhoooo...

Yes I am bullish silver, yes I think London is tight for supply, yes there are a heap of unallocated accounts in London BUT do I believe that BlackRock will give an "authorized participant" a bunch of shares that they can legally redeem as real sliver in return for some unallocated holding outside of their custodial arrangement. NO!

The only way that these things are not backed is if the custodian (JPM) is defrauding BlackRock by booking metal that they don't receive. Why they'd do that for anyone other than themselves I don't know. + BlackRock can't be that naïve, they will have an auditor that checks things out.

Follow the money and find the incentive? What is in it for BlackRock? Nothing but massive risk if the metal isn't there. They are MUCH better off playing it straight. Why would they risk blowing themselves up on a silver ETF?

I just don't buy his line... it has holes in it, big ones.
 
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Joe King

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Buck

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my lcs said they had nothing to sell and no one is selling to them

they've placed orders from their suppliers but there's nothing to supply them with...everyone they contact is out

both gold and silver, they were kinda concerned this is their business and there's no commodity to trade
 
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solarion

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A relatively large number of a gold contracts(+1818) were tacked onto the cumulative MTD report for 2/23, but only 15 silver contracts were added. That brings the cumulative totals for delivery up to:

Gold 36,451(3,645,100oz) ; remaining open interest = 1818(181,800oz)
Silver 2289(11,445,000oz) ; remaining open interest = 28,442(142,210,000oz)

Interestingly EFP for silver stands at 1048(5,240,000oz) 728(March) + 320(May) contracts. There are also 2165(216,500oz) EFP added to the Gold April contract. It appears as though the market is adapting to the tight supply by jumping into the EFP(Exchange For Physical) queue earlier than in years past.

1614176151149.png


Ah the morning pre-market monkey hammering by the bankster spoofing crew. ...they are devoted. Clearly this entity doesn't care at all about getting a good price.

1614180309481.png


Meanwhile...in the real world, an ounce of silver costs roughly five bucks(18%) more than the fake "spot" price set in the rigged bankster paper counterfeiting market.
 
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gringott

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Can't seem to catch the LCS open. I have tried about 6 different times of the day, all on different days. Has stuff in the glass counters but the sign just says closed, no hours posted. Kinda weird. I am not a frequenter of the establishment so I am clueless as to what is going on.
 

solarion

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Perhaps they have nothing they wish to sell. There's one by me that I never loved, but I've picked up a few goodies here and there. Anyway, the other day he said he doesn't have anything at all he wishes to sell at these silly low prices and probably won't even bother opening, until he gets new supply from his distributor. People coming in to these things are heavily skewed toward buying lately, with scarcely a seller in the crowd. The proprietor at my favorite shop calls me the second he gets anything worth buying in stock...particularly 1oz gold and platinum sovereign coins that aren't made by the US mint. ...he doesn't call often these days.

I just snapped up some more silver phillys from SD bullion on the bankster paper smashdown this morning. Looks like I caught the recent low and managed to stack them at 32.92(crypto). I believe I left a hundred or so...for anyone so inclined. lol

https://sdbullion.com/1-oz-austrian-silver-philharmonic-coin-random-year

1614184027981.png


What a clown show...perhaps the crimex bullion banks should be paying US to take paper silver off their hands...

1614184817997.png


One gets a sense, that premiums are heading up again...not down. The crooks just can't stop dumping paper metal.
 
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WillA2

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my lcs said they had nothing to sell and no one is selling to them

they've placed orders from their suppliers but there's nothing to supply them with...everyone they contact is out

both gold and silver, they were kinda concerned this is their business and there's no commodity to trade
Chances are, if you want to buy actual metal, you will need to look for local people who need/want to sell for various reasons but don't want to be low-balled by a "dealer."

Look through places like Craigslist, etc.
 

WillA2

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Can't seem to catch the LCS open. I have tried about 6 different times of the day, all on different days. Has stuff in the glass counters but the sign just says closed, no hours posted. Kinda weird. I am not a frequenter of the establishment so I am clueless as to what is going on.
Some of those guys are "by appointment only" when they deal.
 

Buck

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Chances are, if you want to buy actual metal, you will need to look for local people who need/want to sell for various reasons but don't want to be low-balled by a "dealer."

Look through places like Craigslist, etc.
I appreciate that Will, i did manage to ask what their buy price is: $2 over