• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Rumors’ of looming COMEX silver default

BarnacleBob

Exoriare aliquis nostris ex ossibus ultor
Founding Member
Survivor
GIM Hall Of Fame
Joined
Oct 15, 2012
Messages
19,774
Reaction score
46,973
...and still even with the massive financialization of commodities to steal from producers and transfer wealth to banksters, they still have to deliver some amount of physical metal. Long ago that was roughly 40% of the paper traded in silver, now it's more like 1-2%, but there's still the veneer of it being a physical market thin though it may be.

The absurdity is not that it exists, the absurdity is that prices are set there based upon paper trading. The sky is falling for the US dollar and fiat currencies around the world. I do not know if the sky is falling yet at the crimex, just trying to follow the breadcrumbs.

COMEX is a derivative function of the paper futures market where paper longs & shorts are reconciled.... I for one don't buy the current mantra that fiat currency is failing, on the contrary it is operating as designed... TPTB have purchased control of resources & finance using them, which has served to place control in the hands of a few western nations & the men that control them...

The true monetary system only accounts for about 2% or less of transactions, the remainder are cleared using credit... I have listened & read all of this erroneous hype that the dollar is dieing, etc... The dollar is just fine,vand so to is $ denominated credit.. Housing Bubble & excesses can easily be contained via writing 40, 50, 75+ year mortgages, auto loans can be extended to 15 or twenty years, credit card moratoriums can be used in lieu of raising wages, etc... There are all kinds of financial schemes that have not been deployed & employed to prevent the fiat system from collapse... The financialization of the world's largest economies was precisely organized & managed to prevent the FOREX basket of currency & credit from destruction & implosion.... IOW quit buying into this nonsense, fiat credit & currency has many years of operation ahead before it self destructs.... JMO
 

solarion

Midas Member
Midas Member
Midas Supporter
Joined
Nov 25, 2013
Messages
9,702
Reaction score
18,076
Also common knowledge that the crimex can cash settle. Still, if it's going to pretend to be a commodity market, then forced cash settlement is quite literally a default. Are they running out of physical silver? I've personally no idea, but people wander around trying to figure out why premiums are so high, and the reason is right in front of us. Paper trading on the crimex setting the price of silver. Why are premiums so high? ...because the fictional paper price is so low. ...and why is that? ...because banksters want it lower. Why is that? I've no idea, but they clearly like paper silver really cheap and high premiums discourage people from stacking physical.

1646244144529.png


Physical premiums are spiking again, from historic highs. Does anyone know why? Aside from shortages of silver?

...yeah I figured.

Yes fiat will be around for decades, probably centuries. Will the fiat I have now buy tomorrow what it will buy today? Absolutely not. What am I going to do about it? ...right, gold, silver, platinum, cryptos, bullets, soup, bottled water, etc.
 

ZZZZZ

Midas Member
Midas Member
Midas Supporter
Joined
Dec 23, 2017
Messages
9,811
Reaction score
23,536
Location
Northern Arizona
Michael ️‍ #silversqueeze
@mikesay98

COMEX SILVER VAULTS AT LOWEST LEVEL SINCE AUGUST 31, 2020 AS 1.11 MILLION OUNCES WITHDRAWN FROM EXCHANGE

COMEX GOLD VAULTS AGAIN AT LOWEST LEVEL SINCE JULY 6, 2020

FM3taUSVEAElYro
 
Last edited:

solarion

Midas Member
Midas Member
Midas Supporter
Joined
Nov 25, 2013
Messages
9,702
Reaction score
18,076
Eligible inventory at the crimex is allegedly owned by someone else and cannot be used for deliveries. That means, the only number on that graphic that matters is the 82,409,822 ounces of registered inventory. Why they insist on listing other people's silver as though it's available for delivery is beyond me. However it sure sounds a lot better when 42,000,000 ounces of silver stand for delivery every other month and you can claim you have 345,000,000 ounces in your vault...even if only 24% of that is actually able to be used to meet demand.

Their system over there is designed to be as opaque and nonsensical as possible, so that people literally have to study it for years to have a clue what's actually going on there. Hell, maybe all their numbers are just made up, who knows.
 

solarion

Midas Member
Midas Member
Midas Supporter
Joined
Nov 25, 2013
Messages
9,702
Reaction score
18,076
What if an entity that gobbled up 55m SLV shares in late December began exchanging for physical in Q1 of 2022? One may suspect that may create some ruckus over at the crimex. "Please give me my $1.3 billion worth of silver sir."

1646267958383.png


1646268129351.png




Maybe.

Edit: Today they delivered a whopping 93 more contracts, resolved another 272, left 3935(46%) of the remaining March delivery contracts open, and sent 2100 over to the LBMA. Slowest delivery month ever.

1646279475354.png
 
Last edited:

solarion

Midas Member
Midas Member
Midas Supporter
Joined
Nov 25, 2013
Messages
9,702
Reaction score
18,076
Slowest crimex delivery month ever. I swear PAAS is mining silver faster than these crooks are delivering it. Officially, a whopping 222(2.59%) open contracts were closed yesterday of the original 8555 standing for delivery and another 550 were "exchanged for physical" IE...sent to the LBMA.

1646394709095.png


Meanwhile, unofficially, deliveries YTD rose by 3062(68.7%) yesterday to 7518 contracts...or 37,590,000 ounces. With the career criminals over at JP Morgue naturally doing the most shuffling of silver...turning over 8755 contracts in March alone between their house and customer accounts. Again, this is indicative of a large entity draining silver from SLV...which JP Morgue, just happens to be the custodian of.

1646395690801.png


Nothing to see here folks...
 

Uglytruth

Mother Lode Found
Sr Midas Sup +++
Survivor
Mother Lode
Joined
Apr 6, 2011
Messages
22,344
Reaction score
56,010
https://www.reddit.com/r/Wallstreetsilver/comments/w9oma9
Posted by
u/Ditch_the_DeepState
#SilverSqueeze
16 hours ago

Helpful
2
Silver
Take My Power
Take My Energy
All-Seeing Upvote
2

JP Morgan's registered silver plunges 1.9 million oz or 9%. That's a 3% reduction for ALL of comex vaults dropping registered to 57.8 million oz. And 3.2 tonnes of gold is OUT OF THE VAULT also at JP Morgan.​



Due Diligence
Did JP Morgan forget to pay their security team? Has NYC's crime wave hit comex vaults? Seems to be as somebody is running truckloads of gold and silver out of JP Morgan's vault.
Here is the crime report:
r/Wallstreetsilver - JP Morgan's registered silver plunges 1.9 million oz or 9%. That's a 3% reduction for ALL of comex vaults dropping registered to 57.8 million oz. And 3.2 tonnes of gold is OUT OF THE VAULT also at JP Morgan.
Joking aside, this drops JP Morgan's registered silver to 19.6 million oz. That would be the total owned by JP Morgan's customers AND the bank. There are no public reports that show who owns what metal in the vaults.
I have documented recent occasions where it appeared that JP Morgan's house account had minimal, if any, silver in registered OR eligible and they likely had to lease metal to settle contracts.
Furthermore, there have been 2 occasions in the last 2 years where JP Morgan issued delivery notices for large amounts of silver... 30 million oz in July 2020 and 17 million oz in March 2022. These occasions did not occur because JP Morgan wanted to lighten their stack. They occurred to contain silver prices.
Given the current depleting vault status it would appear that JP Morgan's house account would be highly challenged to sell similar large amounts of physical silver as they have done in the recent past. All we need is a triggering event ...
 

Uglytruth

Mother Lode Found
Sr Midas Sup +++
Survivor
Mother Lode
Joined
Apr 6, 2011
Messages
22,344
Reaction score
56,010

Goldbrix

Mother Lode Found
Eagle
Mother Lode
Joined
Apr 4, 2010
Messages
21,898
Reaction score
35,255
Haven't these rumours been swirling for years now?
Yep! But it's different this time! :rage 1
YEP, IN THE PAST We had not have a She Whale activate a 50 million dollar US Coin BUY in Silver and GOLD as happen a few days ago. By Mid August she'll have acquired 27 million usds worth of Eagles and junk silver from all the major silver wholesalers; and 23 million in gold eagles.
She also has inferred she has plans for FIVE more similar transactions as each one gets completed.
Her bank attempted to stop her and slow walked her financial withdraw. She finally threaten to get banking regulators involved when the bank finally acquiesced.
Miles Franklin got a call from her bank asking them for routing numbers.
Andy Schectman,onwer of Miles Franklin, said she has wiped out all his US .Gov Silver products leaving him with only bullion products in his vault.
I believe this She Whale has not only set a bottom for Silver pricing but is also responsible for over $1.00 spot price increase in the last two days.
And still heading upward.
The She Whale wants all the public to know what she is doing and her longer range plan.
 

Uglytruth

Mother Lode Found
Sr Midas Sup +++
Survivor
Mother Lode
Joined
Apr 6, 2011
Messages
22,344
Reaction score
56,010
Her bank attempted to stop her and slow walked her financial withdraw.
Kinda puts a wrench into their "fractional reserve bankstering" don't it. They had to cover....... or get bailed out................

I love the way this leverages against both the comex & banksters.......