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nowon brought this re silver

solarion

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Doubtless the mainstream financial media will be ALL. OVER. THIS. STORY.

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Dunno if this is going to create a stampede of people trying to get metal out of bankster hands and into their own safes, but these guys are meticulously documenting the incidents of defaults at Perth. Bravo to them for getting information out there.

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Fascinating reading of 1st person accounts. Shit's gettin' realz boiz.

https://www.reddit.com/r/Wallstreetsilver/comments/m6qxgg
 
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solarion

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Perth is now attempting to get in front of the problem...seemingly by acknowledging it, but simultaneously(unsurprisingly) failing to address any wrong doing on their part. There's no mention there whatsoever of their failure to deliver unallocated pool silver bullion in a timely fashion as stated in their own contracts.

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So you see? Unallocated silver remains "fully backed by silver at the mint" ...you little people simply may not have it for some unspecified amount of time because...uh reasons.
 

WillA2

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Looking at that last image...

Is the metal truly for sale if you cannot make delivery of the product?


Hmmm...
 

solarion

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Technically yes, but the photo is misleading, at least if you're buying unallocated "inventory". The Unallocated silver pool at Perth appears to be based upon all the unprocessed silver in their pipeline. It's likely they failed to foresee a time in which all of their production would be spoken for many months in advance. So now they're attempting to stonewall unallocated buyers who request delivery, even while continuing to take in funds for unallocated silver, they know cannot be delivered for many months.

A bit sleezy imo, but frankly people paying for "unallocated metal" kind of deserve some hardship. At least Perth correctly does NOT charge them to store metal...as that'd be outright fraud. As it is they should just be honest about the issue and stop accepting funds for unallocated resources that are unavailable months into the future. They're handling it poorly...probably to prevent a stampede out of their vaults as well as the vaults at the crimex and LBMA.
 

ZZZZZ

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That announcement from Perth Mint is more carefully worded than a legal brief.

"Customers can still invest in silver coins...."

They just can't take delivery of them.
.
.
 
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Voodoo

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ZZZZZ

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Someone want to tell those commies they need real silver for those stupid ass solar panels?

And their electric cars. And their windmills.

And the entire 75-100 year old US national electric grid needs to be upgraded or replaced entirely. Millions of ounces of silver needed for a high efficiency grid.
.
.
 

917601

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I am not to sure many know that he Aussie government is as corrupt as can be. The Covid lockdowns are the most strict on the planet...they bought into the Great Reset, unintended consequences of forcing a nation wide shutdown spilled over into the politically corrupted Perth Mint. Evil destroys evil, the Perth Mint has a price to pay for aligning themselves with the evil powers to be. Should they go bankrupt, out of business- I call that Justice...just my 2c.
 

917601

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I will add, I pray the COMEX and all those that have corrupted the PM markets for decades receive a mega dose of divine Justice. It is coming, no idea when , but unequal weights and measures, fraud and deception was dealt with severely in Biblical record.
 

solarion

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Dunno about divine justice, but the comex is facing a lot of physical silver going out the door...50,900,000 ounces in the current delivery month. Gold withdrawals stand at 843,900 ounces in March.

This is 15 business days of inventory reductions.

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Yet another example today of an inversion in the silver futures contract convenience yield. ...otherwise known as backwardation.

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Voodoo

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No cash settlement either? Paging all lawyers.
 

solarion

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No cash settlement either? Paging all lawyers.
Covid is, no doubt, causing their funny munny to get the sniffles and needs to be quarantined.

Perth is bankrupt. Sacrificed to keep the charade going a little bit longer at the LBMA and crimex.
 

solarion

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...or has been encumbered.

What?!? You mean selling multiple claims to the same physical bullion?!? ZOMG bankers would never!
 

WillA2

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Reminds me of MF Global and back when first heard the term rehypothecated...

Fancy word for theft

A lot of little guys got ripped off by those crooks. Big corporations got theirs at the expense of eveyone else. All legal like, though.
 

solarion

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An ounce of paper silver in hand right now, is worth more than a promise of paper silver ten months hence. The current spot price just exceeded the forward year contract trade price. Trust at the crimex is breaking down.

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This after another 1.6m ounces were withdrawn yesterday from crimex vaults.

TOTAL REGISTERED127,000,651.2860.0000.0000.000-204,025.320126,796,625.966
TOTAL ELIGIBLE244,912,783.9651,622,470.0521,638,519.903-16,049.851204,025.320245,100,759.434
COMBINED TOTAL371,913,435.2511,622,470.0521,638,519.903-16,049.8510.000371,897,385.400

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We're going to see just how far down the road the can really can be kicked when dealing with real money that cannot simply be printed.
 
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ZZZZZ

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Looks like the US Mint is over the edge. Polish Mint too.

Ew3DjUhXAAMB_P6


Breaking News! Mint of Poland completely out of investment silver.​

News
Mint of Poland completely out of investment silver! They do have some collectible coins with premium 2X over spot, but there are no investment coins or bars available anymore. Keep in mind that Polish KGHM is the world’s largest silver producer (top 8), and silver has always been available domestically, but not anymore. Something big is going on under the radar.

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nowon

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Sounds like the Polish Mint is also getting fleeced to feed the Comex...good info, thanks for posting
 

solarion

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arminius

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I'm in the process of selling a little silver locally, mainly just to test the market and set up a group that I can rely on buying silver for possible future sales when the economy really collapses. I did this back in 2008/2009 sucessfully, to survive a time when no money was coming in. My price is what the local LCS charges, spot+, but is a private transaction.

What's amazed me so far this time is the number of folks out there who seem to want to fight to get their price. They are clueless as to what will happen to their frns soon. TV Zombies who might also view enough alternative media to begin to understand PMs might save their corpuses in this clusterfuck society we are currently engaging.

This current economy has made folks much more obnoxious secondary to the institutional fear promulgated.
 

nickndfl

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Coins could be in short supply because planchet manufacturing cannot easily be ramped up to meet extraordinary demand similar to ammo.

So buy kilo bars instead.
 
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Oldmansmith

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Just got back from my LCS. He only had five 5 ounce bars (I bought them all) and not a single round or 10 ounce bar. Picked up some junk silver for the rest of my stimulus package.
 

pay dirt

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The banking cartels religiously control that ticker tape and will drive the spot price below 20. It has worked well for them in the past. Its going to end up like Soviet union bread its priced incredibly cheap yet none available anywhere.
 

nowon

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Sooner or later miners are going to stop selling at artificially supressed Comex prices because they are losing too much against the actual physical market price...

Even a short term miner delivery embargo will crush and end crimex
 

BigJim#1-8

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