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nowon brought this re silver

solarion

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Also on that thread...

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ZZZZZ

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David Morgan, "The Silver Guru," sums it up.

 

solarion

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The crimex and LBMA are being drained of physical gold and silver. None should be surprised at who's doing the draining...

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6820 March silver contracts(34,100,000 oz) standing for delivery so far. Goldman and JPM account for 4313(21,565,000 oz) of those. That's 63.2% of the total. Goldman sucks is 42.5% alone. Gee, I wonder if these guys were naked shorting silver and are now scrambling to get ahold of physical after knocking prices lower. A whopping 19,939 contracts(99,695,000 oz) standing for delivery year to date. If this keeps up both the crimex and LBMA vaults are going to be empty.

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Big time EFP activity setting up in May silver futures. Dropping the paper price further would merely cause more deliveries/EFPs as those with deep pockets arbitrage against the manipulated paper price, to take delivery of physical and sell it elsewhere into depleted sales channels.

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D-FENZ

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The crimex and LBMA are being drained of physical gold and silver. None should be surprised at who's doing the draining...

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6820 March silver contracts(34,100,000 oz) standing for delivery so far. Goldman and JPM account for 4313(21,565,000 oz) of those. That's 63.2% of the total. Goldman sucks is 42.5% alone. Gee, I wonder if these guys were naked shorting silver and are now scrambling to get ahold of physical after knocking prices lower. A whopping 19,939 contracts(99,695,000 oz) standing for delivery year to date. If this keeps up both the crimex and LBMA vaults are going to be empty.

View attachment 203123

Big time EFP activity setting up in May silver futures. Dropping the paper price further would merely cause more deliveries/EFPs as those with deep pockets arbitrage against the manipulated paper price, to take delivery of physical and sell it elsewhere into depleted sales channels.

View attachment 203126
David Morgan says that no more than 7.5 million ounces of silver can be delivered on any given contract month no matter how many contracts are standing for delivery. The rest are cash settled. So basically, standing for delivery- even the talk of it- is pretty much just nonsense. David does say that in a couple of months they will be doubling that amount to 15 million ounces but it will still remain a relatively miniscule amount of silver that actually gets delivered.

Zzzzz posted this video earlier today. You can hear David shooting down this delivery argument starting at about the 11:00 minute mark:

 

solarion

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I believe he's referring specifically to the crimex though. Many of those deliveries are being sent over to the LBMA, which is much closer to an actual physical exchange. I recall half watching that particular video...or at least listening, but frankly I've never found Morgan to be all that interesting or insightful with regard to the PM markets.

As an aside, if one studies closely the reports emanating from the crimex, it's difficult to miss the huge increase in EFP silver contracts. These are likely the raids on the SLV by "authorized participants"(big banks), but this number is also separate from official "deliveries", many of which, as you correctly state are just a pile of bank credit at the end of the day. The entire futures market "commodity" system is so opaque and convoluted, it's nearly impossible to discern WTF is going on over there.

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solarion

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nickndfl

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I been buying the silver dips and filling in a nice bullion collection with coins from other countries and different sized bars. Some of the best opportunities are on Sunday nights. I could produce a video with a wide variety of silver and gold.
 

solarion

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Same. Picking off sovereign silver coins @ < 32(crypto) has become a hobby. I've similar price targets for sovereign platinum and gold, but they're easier. Silver premiums are insane, so any way to beat that back is well worth it.

Wonder what the excuse is for this paper silver price smashing. It ain't dollar "strength" or bond yields...so probably "ZOMG equities are dropping! ...I must dump moar paper silver!". lol For a bankster crook, any excuse seems to be a good excuse to dump paper metal.

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ZZZZZ

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solarion

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And that is only going to intensify the cycle. As they withdraw more, the price will rise, thus putting more pressure on the shorts.
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Huge numbers of contracts showing up for EFP(Exchange for Physical) the past few days. Looks like 4799, just in the past few trading sessions.

Some masterful trading going on in paper silver just now. Take this silver now dammit! I hate the stuff and don't care how much(or little) I get for it.

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solarion

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...and the NY market rigging criminals bid all you PM stackers out there a hearty GOOD MORNING!

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There is *NO* silver squeeze people! ...SEE! The price keeps dropping, because the stuff is everywhere! LMAO

Stacked another 100 of these, 2 of these, 1 of these...thank you so much for the unexpected flash sale bankster scum.

Wait...so you're saying metals = baaaddddd? ;)

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I guess I'm just not very bright then, cuz I'll be stacking moar if this continues.

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solarion

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31.73 for an ounce of sovereign silver. Deal! Thanks again banksters! Keep up the good work buddies. ;)

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solarion

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Registered inventory at the crimex continues to be drawn down. Now -11.8% since the silver squeeze campaign began.

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ROFL
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solarion

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solarion

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Bob Coleman is doing God's work! I don't actually want 1k oz bars, I just want to track how tight the market for wholesale investment grade silver is over time.

Looks like it's time for the post lunch slam down. The paper pushers have finished up their lunches are are ready to get back to their day jobs...as pirates.

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Here's an interesting bit of intel crossing the crimex wires...

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Naturally the crimex isn't going to just hand over all this physical gold, silver, platinum, and palladium in anything resembling a timely fashion irrespective of Bank of Novia Scotia/MTB/Pamp's wishes, but it's interesting to see this seeming loss of faith in criminal enterprises...like the crimex.

BTW this, if it happens would put a serious hurting on the crimex. MTB is listed as the single largest depositor of registered/eligible inventory at the crimex.

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33.535m oz = 25.43% of registered inventory at the crimex.

The latest crimex inventory report. The situation is even worse than stated above.

https://ibb.co/NSm8qKb

Here's the official notice. My understanding, is that this occurred because Scotia got busted(fined) for spoofing PM markets, decided to exit the PM markets, and therefore sold their interests to MTB(Pamp). Now if only goldman and JP morgue would do likewise...yeah that'd be great.

Anyway, here's the official Scotia notice of intent to CME to withdraw and transfer interest of their metals interest there to MTB.

https://www.cmegroup.com/notices/market-regulation/2021/03/MKR03-01-21.html
 
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nickndfl

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Miners are gonna hold out like your cathlolic date on prom night until the prices goes up.
 

Voodoo

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You know what we really need... is a company like Wheaton Precious Metals to sell their silver/gold streams directly to the refiners. They could immediately improve prices.
 

nowon

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One other option is what the CEO of Kuya Mining said in an interview... what if miners used cash reserves to buy PSLV

Withholding production would work with companies that had the cash to cover operating costs

Like them both
 

Voodoo

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One other option is what the CEO of Kuya Mining said in an interview... what if miners used cash reserves to buy PSLV

Withholding production would work with companies that had the cash to cover operating costs

Like them both

Miners need the capital to you know, mine. I mean they can just sit on some of the product if the prices are low but that has other problems. The streaming companies are selling to the refiners anyway I assume, why do you even need the spot price?
 
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solarion

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I don't care. I stack 100 oz every time they whack the price down enough to stack sovereign silver for < 32 an ounce. I doubt I'm alone. The way to break these crooks is to stack that which they cannot print.

Premiums on an ounce of silver are now firmly over 20%. The spot price is becoming less relevant every day.
 
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nowon

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I don't care. I stack 100 oz every time they whack the price down enough to stack sovereign silver for < 32 an ounce. I doubt I'm alone. The way to break these crooks is to stack that which they cannot print.

Premiums on an ounce of silver are now firmly over 20%. The spot price is becoming less relevant every day.
True..and they're making it cheaper, at least the PSLV route

e:thumbs up 2:
 

solarion

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504,400 oz of gold and 42,480,000 oz of silver have been delivered in just the five days since first notice.
 
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