This page has been archived and commenting is disabled.
Comex Physical Silver Drops To Fresh All Time Low Of 28.8 Million Ounces, 3% Drop Overnight, 30% Drop In Six Weeks
When we first started paying attention to the physical ("Registered") silver held in COMEX warehouses on April 20 following the explosion in the silver price, the total amounted to just over 41 million ounces. As of today, a short 6 weeks later, the total physical silver held throughout the entire Comex complex, has dropped by 30% over that period. As of close today, the total amount of Registered silver is now 28,773,375 ounces, a decline of 2.9% overnight from 29,636,513. This is due to a withdrawal of physical from both Brinks and Scotia Mocatta, as well as the ongoing reclassification of 438,708 ounces of Registered into Eligible silver over at HSBC (but wait, it will revert back to Registered any moment... we promise). At this rate of withdrawal and "adjustment", there will be no physical silver left in the entire Comex in about 5 months. At that point, even one delivery intention will send the price of silver to previously unseen levels.
Source: COMEX
»
- 25551 reads
- Printer-friendly version
- Send to friend
- advertisements -
http://trololololololololololo.com/
lol, you even fail at ad hominem.
You do realize that a, I'm a chemist, not a biologist (I work in a biomaterials research lab that is branching into drug work), and b, high school biology teachers aren't exactly low level intellects.
Funny how my "not knowing a fuckin' thing" about silver has netted me 100% on spot in the last 12 months (more, since I own physical, and premioums are WAY up), and am up much, MUCH more than that on both dollar cost average and initial investments. Indeed, I predicted everything that would happen months in advance.
But hey, you feel free to keep pushing your agenda. I don't think anyone here will be selling their physical silver though, lol.
I got silver @ or below $15 in 6 months.
What's your crystal ball say?
$15 by Dec? Okay Bob, you're on the clock.
Looks like you've just joined the Spalding Smells, Math Boy, Tejas Shitslinger, and Robo the Clown PM Troll Brigade.
And Bob, did you know gold hit an all time high London PM fix today @ $1549? No, I didn't think so.
I put my call out there, instead of talking shit what's yours?
Guessing you and tmosely won't come out with any calls (you both are normal chicken shit trolls) pushing an agenda.
My call for 2011 made last Dec., was for $1700-1800 gold and $50 silver. Posted that at Mish's blog and here. I'll stick with those targets, and if I'm wrong I'll say so.
I have no problem taking the other side of that ridiculous call of yours.
I'm not talking about gold, I'm talking about silver.
And by what date will silver hit $50?
I gave price & time. You just gave price.
$15 or lower by December.
Nice bet
first posted for the doomers™ weeks before crash ... lol
1900 - $0.80
1910 - $0.70
1920 - $1.70
1930 - $0.50
1940 - $0.42
1950 - $0.90
1960 - $1.00
1970 - $2.00
1980 - $48.00 ( Two months later below $10.00 )
1990 - $6.00
2000 - $5.00
2003 - $5.00
2006 - $8.50
2009 - $12.00
2010 - $18.00
Today = Bubbleicious
Spalding...
You don't know shit either so STFU.
US 25 cents circa 1964 will still buy thee a liter of high octane race petrol; two war nickels will do the same with 1 usg of premium. It's all figured in; hold 5,000ozt of ag .999 and you or your posterity will be able to buy a sustainable farm and employ share croppers.
Look at the 20 year graph for Microsoft, Intel, etc, and I suspect you'll find a similar pattern. Yet, you see no issue investing in MSFT. In fact, it's a STEAL at current price, right?
Can't you read? End of 2011.
So you talk shit on silver but have no balls to call gold?
Sounds about right.
I'm 100% in cash (dollars) right now.
Gold is a different beast and I have no idea where it's going.
100% cash? You are fucking crazy. What are you low on toilet paper and have the runs or something?
Pay no attention to the COMEX price, which has been separating from physical this year. COMEX may trade at $15 silver in December but that's paper garbage, just like that 100% cash you have. Physical Silver will be over $100.
Ok chief...
Good luck with that.
And you
The price doesn't matter, as I have said. It is fake.
The COMEX is already in default. It will be in default in a very public way by the end of the year. It will probably be bailed out, and maybe even still trading, but there won't be much physical silver changing hands. Physical silver trading will move elsewhere.
You can never admit when you are wrong. This is why you are a loser. For example, you still try to claim that I am always wrong, despite the fact that COMEX inventories are in fact being depleted, EXACTLY as predicted (ie I said that lower prices will deplete physical inventories).
Funny how you now accuse US of having an agenda. Accuse the other party of doing what you yourself are doing. Reminds me of the Soviet Union.
Even more amusing than usual.
Price doesn't matter?
Ok...
nuff' said, thanks for the input.
It's pretty clear how you could have no predictions as you live in a fantasy world where nothing (including price) has any value.
I'm tmosely and I predict infinite volatility...did you see silver today? it went up and down, I know what I'm talking about, I predicted it.
Again, you fail at reading comprehension.
I said in FEBRUARY that volatility in silver was going to explode, you know, before it did. Further, I said just now that price doesn't matter because the market is highly manipulated. The volatility is going to continue to increase as the market goes schitzo trying to decide what the real price of silver is (paper, or physical). This is followed by a public DEFAULT on the COMEX. This ENDS the volatility, as the market adopts the physical price as the real one. It will be set MUCH higher. Arbitrarily higher, even.
Your stupid shit doesn't change the fact that I was right, and that you are a dumbass.
You hold those dollars, bitch. You are going to get what you deserve.
Haha.
You keep saying "the price"....
silver priced in what?
Whatever. Enjoy your Bernankonfetti.
If it does, we'll just keep rotating worthless paper for real moolah at a bargain.
Meanwhile, keep buying at the best price you can.
Nice try bubba.
I have wet dreams about 15 dollar silver. I wont make any calls about the comex defaulting, physical supplies, or anything else where the facts arent truly there. The books are cooked, the books are cooked everywhere, in pretty much every market. My only option as I see it is to stack physical and hold it long. I dont care where silver is at the end of 2011, I care where silver is in 2061. I'm under 30 so I have plenty of time to stack and a fake crash would just make my stacks that much bigger. I'm a representative of a real buying force behind silver, the force that doesnt give a shit if it hits 50 this year or even 100, cause I'll still keep stacking. What else should I do with my money? Buy retail crap that will fall apart in a year? Buy real estate which is still way overvalued and pay exponentially rising property taxes? We may be small in comparison to industrial demand and banking power at this point but we're still growing, we buy the manufactured dips, we hold, and we take the power back little by little.
...but really, who doesnt expect a real manufactured crash in the comex? I keep half my purchasing power available to buy that big dip when it comes because it will be the signal to liftoff as the big players try to wrangle themselves out.
.
Banks which execute these forward sales borrow silver from the spot market, which reduces the physical supply of silver temporarily.
Hedge books are being yanked from Bankers control at an alarming rate, hence Silver @$35+.
here is sombody that is short silver.
http://finance.yahoo.com/news/Arian-Silver-Progress-Update-ccn-3790216439.html?x=0&.v=1
Thanks dog, I'll be steering clear of that junior silver miner.
Doc,
highgrading is just behind prostitution so no surprise here. the surprise to me is that there is such lax security. Mexico has a lot of silver in high grade veins. The hidden storey of Pancho Vanilla might have a silver lining.
Gold Corp has a high grade zone at their flagship Red Lake mine. The gold grade is extreme in the > 100's of ounces per ton. That zone is locked behind a steel door underground.
At the diamond mines in northern canada, workers are fired if they so much as pick up a rock.
"Name one..."
Some nondescript Mexican co. that only produces 20k oz Ag/yr and needs fiatscos to boost its concentrates volume, is my guess.
Looking forward to the Comex fireworks show. Sept or Oct with 90-100% margins. It will be a hoot.
so do you mean ebay will be the price setting mechanism for physical.
you look like a bitch.
Force majeure, bitchezzz!
BTW, Jesse has been all over this for at least the last couple of months.
Does the Comex problem really matter for JPM as long as they control SLV? They can switch silver from one pocket to the other at will, with no interference from the CFTC or SEC.
True.....convenient tweaking of the rules eh?
The extortion plot of the small speculators (longs) has one more chance in the July delivery month....then all bets are off until December.
I'm not sure they have deep enough pockets to hand the Bullion Banks a beating....but they may drive the price back up to the cusp of the all time high.
It's must see t.v......especially when the crybaby gamblers complain about margin hikes and rule changes...while remaining unwilling to burn down the casino they so love playing at. Clueless Masochists.
I know from immediate experience how desperately short JPM is on silver: a while back I moved XXXX oz from SLV to bullion. To get out of the SLV, my broker - a JPM/Smith Barney operative - had me sign a piece of paper showing his boss that he had "advised me against so doing". That says volumes about the situation.
Silver Bitchez !
5 months? I bet the withdrawl rate accelerates as inventory plummets. Maybe two months...
over one month & still waiting for delivery on only 10, 2011 eagles from bullion direct.
Mine just shipped. BD is swamped.
I deal with AmericanSilverEagles. Still delivering in one week or less.
Comex won't bust, not when they can hand out SLV shares. And if that ever gets to be an issue they will just change the rules. Only thing that will change the exchanges is if they give up all pretense up being a physical market and become a paper trade and the physical users go elsewhere.
Stop arguing with yourself.
SPALDING eats horse cock...and don't even choke.....
He's good......
Perth Mint (Australia) won't have physical till July 2011. Probably good timing, market lows timed and huge commodity sell offs. So buy on dip
Well, I'm not a financial maven. Have lots of physical silver, though, and got an email today from APMEX - they had 78 thousand silver eagles on sale with free shipping. Almost jumped at it, but i'm waiting for below 33 or over 50 to add to my physical. So, anyone have a comment on this...
"There is no national housing market, so there can't be a national house-price bubble."
- Michael Youngblood, Managing Director, Friedman Billings Ramsey & Co
“If you own your own home free and clear, people will often refer to you as a fool. All that money sitting there, doing nothing.”
- Anthony Hsieh, CEO Lending Tree
"It's impossible for prices to go down this year."
- Gary Watts, Spokesman Orange Country Association of Realtors
...yet, the stocks you posted about are SCREAMING BUYS despite the economy falling off a cliff, and them already having gained substantially since their 2009 lows, right?
GLUU √
MPEL √
CAT ( still ) √ You will see $130 this year
JPM √
ARMH √
JOBS √
most still have a green light, yes ...
got to put your money where your mouth is man....short silver stocks...if you are sure of another 30-50% decline...any ideas?
I'm sure he did, and he lost everything, which is why he's so pissed off at the silver bulls.
But he doesn't talk about his losers.
A home or house is not currency. Nor has it a history of being considered a currency. It is illiquid unless sale-able, silver and gold are not. How many in world history have traded their house for food, water or medicine. How many have traded gold or silver for these same items. A bubble would also imply high price AND high inventory. Is that truly happening right now in the situation concerning either gold or silver? Houses can be built with many raw materials, from mud, to wood, to brick, and concrete. Silver and gold as currency exists in finite amounts and CANNOT be diluted under any market condition at will. To compare houses to PM's as currency or something similar belies comprehension and speaks of an antagonizing wannabe troll who displays a piss-poor grasp of economics or reality.
A home is a place to live, and raise a family. It can provide you immesurable memories over your life. Having it free and clear as we do other than ordinary taxes each year (Homestead act, not much...) and replacing obselete infrastructure and driving down the cost of utilities (Example 500 dollar electricity non levelized driven down to about 35 levelized)
It really frees up cash flow. When you are secure in your home, you are free to look about and consider what can be done to improve upon that.
Should a bad day come and the hordes come well... It's going to cost them plenty before they get their way with the house.
We improve, add on and make repairs when we need to. That way if ever we find a better place also free and clear... we can relocate easily. We already have several people who intend to fight over the old property as buyers with the realtor.
Real estate prices keep dropping. And they are building new homes in our area by the dozen with a price point somewhere around 120K or so. Which probably equaled 300K 5 years ago.several years from now, if Obama is still president... 120 silver, 1800 Gold and 60K homes will be the norm.
APMEX is at the front of a lot lines to buy silver from Government Mints and huge dealers throughout the world. They are the bellwhether. When APMEX is short on supply so will all dealers be short on supply. Summer is typically a slow time for precious metals dealers hence the sales. This summer may be different though. It promises to be "The Summer of Discontent"!
Tuco Benedicto Pacifico Juan Maria Ramirez
THERE IS NO TROLLING BUBBLE. ITS IMPOSSIBLE FOR THE TROLLIN G MARKET TO GO DOWN.
-- Spalding
Since I'm looking down on earth from outer space, it is easier for me to conceptualize planetary silver production compared to population. Here is what I see: planetary silver production in the neighborhood of 600-700 mil ounces per year, and world population approaching 7 billion. This means that if each "citizen" of earth demaned their share of silver each year, everyone gets a about one US silver dime per year, with NOTHING left over for industrial use. Spalding, I think the Fed has more control over your mind that the Borg had over Locutus.
http://www.silverinstitute.org/supply_demand.php
No comments on it; I'm just posting this link here for everyone interested.
All that matters is the paper market.
If the goons at the Fed want silver lower, all they have to do is swamp the COMEX with more paper shorting contracts.
Virtually every hedge fund on the planet playing the "Risk On/Risk Off" trade watches the COMEX "paper" spot price.
They look at nothing else.
Investors are lining up in droves to buy LNKD stock at the IPO price of $41.
Nobody is lining up at silver warehouses requesting delivery.
Word
http://trololololololololololo.com/
Hahaha...
All the comedians are out tonight. Where's Tejas Shitslinger?
Yeah, but the sellers that bought at 100+ aren't quite ready to sell.
They would probably line up if the Comex actually satisfied the longs- oh wait, they're having trouble- especially with the OI increasing as the month (not even a delivery month) keeps rising.
Nice try Robo.
Yeah people just can't get enough of the LNKD.
Would that be the same as say trading paper water? If your city or town ran clean out of potable water, would that petty and insignificant supply and demand issue affect your everyday life. Supply and demand ARE reality, the market is a pauper not just paper and will always bow to facts whether it likes it or not. Nature and ecology are a bitch, but too many as arrogant as you fail even to grasp it, fighting it even unto your dying breath.
USGS says silver will be the first element to expire from the periodic table by their estimation the timeline is 2020. I guess I can wait that long.
It won't be long now that it will finally be revealed that there is no silver either at SLV or the CRIMEX. Harvey has an interesting post tonight.
ok. Someone explain this. Phil Streible at lind waldock sats NO shortage at Comex!
http://youtu.be/WLWmV522Oes
Tyler should apply his logic to the the weather futures contracts. Chance to change the weather patterns as shorts cover.
What would happen if we run out of weather with the right specs for delivery. Would too many longs hasten global warming?
The amount of weather in the future is almost infinite, until the sun goes all red giant and eats the planet. Silver is much harder to come by. I enjoyed the analogy though.
If Joe 6 pack and Susie bag 'o' doughnuts knew of all the various vehicles by which one could gamble in markets with fiats that were backed by nothing...and forever increased...by which to supply the capital for said casino house chicanery...they would probably wake up alot faster to the notion of having a precious metals insurance policy.
I hope they will soon have 100 oz's of silver and 2 oz's of gold....for every year of their adult life that they have worked.
If they had the attention span...I'd convince them to watch MM's video:
http://www.youtube.com/watch?v=E5VNAEmmBQM&feature=pyv&ad=10906266712&kw=why%20gold%20and%20silver
Just as Anthony Wiener admitted to lying today, Crimex will have their Kodak moment shortly.
Patience is a virtue.
Aren't the equity and FRN guys supposed to be working on their Rosetta Stone Mandarin course so they can post intelligible comments on the Chinese financial message boards? I mean, the last time they used Babelfish it came up with the translation "It costs $5 an ounce to pull a chunk of silver out of your ass," and the Chinese junked the shit out of the comment. It's amazing to see all the effort put into the ZH readers which make up, what, 0.001 percent of the physical market buyers. Doesn't the real effort need to go into discouraging the Asians, the Indians,the Middle Easterners - come to think of it the Central Banks and populace of every other f'in country on the planet?
Oh, and they forgot about this argument: Dwindling supplies in the Comex are a clear indicator that nobody wants silver anymore, otherwise the exchange and producers would be making more of an effort to supply it.
Knowing the crooks running things in the silver market the unseen levels the silver price will go to when the Comex is out of silver completely is probably $2. They will just designate paper as physical. Or they will have Blythe and her minions make paper mache bars and paint them silver then offer a few photos as proof they have silver.
Stock the empty vaults with paper shares of SLV's imaginary silver and settle with that. Problem solved.
I Really don't know why so many on this site, play with the Trolls ! It's kind of funny to watch now and then.. It's like watching a Cat play with it's half dead mouse dinner.. I'm not a trader, but I know enough to see when things are not right.. I've been selling all my play toys for the last year and a half and buying mostly Silver.. I don't know when this gig will end, but I feel it coming soon.. Trolls don't give a shit about nothing but themselves ! I believe them to be just like most of our Politicians.. They're Psycopaths !
Perth couple Brian and Eileen Bowden are among thousands reaping the benefits of the state's robust economy as they prepare to extract a $100,000 profit on their home in just six weeks. "The people who we bought this house from made $100,000 off us, so it's a non-stop cycle," Mr Bowden said.
"West shows way but east trembles" by Anthony Klan and Alana Buckley-Carr, The Australian.
Available listings as of Aug. 1 totaled 9,555, up 68.9 percent from a year ago. `That's a big number,' said Portland economist Jerry Johnson.
"Housing boom might be kaput" by Dylan Rivera, The Oregonian.
"In Jackson [Wyoming], the market doesn't really go down," said (realtor) Linda Walker. Broker Ryan Olsen agrees. "We are immune to the up and down treads that plague many real estate markets," he says. "Our real estate market is essentially quite 'bullet proof'!"
"Un-Real Estate" by Jake Nichols, on Planet Jackson Hole
Mozilo reached out to borrowers as part of a "little experiment" to understand the reasoning behind making only minimum payments on so-called pay-option loans, a practice that boosts the total amount due, the 67-year-old CEO told investors Wednesday in New York.
"What we're finding out is that they're pretty smart," Mozilo said. "It's like voters: Individually they're sort of idiots, but collectively they seem to make the right decisions."
"CEO Makes Call on Pay-Option Loans: It's Risky", from Bloomberg News.
And yet you can't apply the lessons of your own cut and pastes to stocks.
Amusing.
Here are a few parables that are more amusing (and heartfelt):
http://www.zerohedge.com/article/guest-post-major-inflection-point-upon-us#comment-483859
I remember that one. A CLASSIC ZH comment.
Best analogy of the stock market yet.
Border Gold in Vancouber is four to six weeks for silver and that is the same as it was when it was running up. The demand has not changed at bit. I'm not thinking they are selling monkeys.
Even gold is running two weeks and it used to be instant.
I am beginning to think Monkies are being trained to trade the market so that the Villagers need not dig and slave for a day's bread and the Overlord need not bother visiting same to ensure the rebellious Serfs are toeing the line.
If no one does business with COMEX and does business with new exchanges such as Hong Kong for silver or whatever then Comex must compete. Paper is not the path. It's coin, bullion and bars. Everything else is pissing against the wind.
There is plenty of silver to order and buy. Delivery comes in a timely manner. However Spot over has doubled this year. That is ok... If silver drops in price, buy and have more physical sent to house. If it rises, wait and accumulate funds or clear credit card balance and be ready to grab the next dip below a certain level.
Never paper. Only real metal in your possession.
It's all Ponzi, courtesy of our fractional lords and masters. => No matter what you're holding, you are going to need a bag holder at some point. => The only way is UP!
Id
technicals look bad. 25ish bad (itll be a hell of a week for physical buyers). no way comex stays afloat at anywhere near those prices.
lots of unhappy paper owners to get ramrodded.
price fixing --> shortages. must we learn this over again...
fokking math questions; 3 be a charm.......
Buy physical Silver on credit then default. Is that OK? Find me I'm lost.-
They got what they wanted: fewer speculators looking for a price change on margin.
What they have got now are hard asset investors demanding delivery of physical silver.
HaHaHaHaHaHaHaHaHaHaHa
Gold exchange rate ('price' to all the paper worshippers) is still bumping along a few dollars below from it's all time high.
Only paper gold is keeping it from spiking higher but paper is losing the battle so this week we will see a new all time high.
Keep stacking physical silver.
Waiting (not so) patiently for today's various CPI readings to come out.
Tanking economic indicators and CPIs rising out of control = gold/silver on the up.
Ah good, German Factory Orders yoy/mom due at 10am GMT.
A miss will juice up gold/silver
Gold exchange rate approaching all time high.
Come on, breach it this time.
yet again
David Morgan keeps saying there is plenty of supply. I tend to believe him.
With plenty of supply, silver is grinding sideways in the $35 range.
Methinks that says more about how silver is valued in paper than anything else.
Yet the stock on hand is lower than ever and margins have been raised numerous times.
Redneck hate fests aside, we all make our own beds then lie in them. Mine has silver headboard baby
"In a research note BarCap said it had found fairly wide agreement among investors that gold was, at least to some extent, a risk trade."
What a load of S**T.
The paper currencies are the overwhelming risk and these investors are going to lose all their fortune when paper currencies die.
Ok bob dob and spalding smells.
$75 (minimum) silver before Dec.
There will be a knock back within the next 6 weeks because paper manipulation is rife.
But if you hold physical it doesn't matter and it'll just be another buying opportunity that I will gladly except.
So go wet each others beds again and we'll see who's right. Tossers.
Silver exchange rate bouncing up to $37/oz from $36.50/oz an hour ago.
Market not believing the 'The Fed Just Telegraphed Not To Expect Much If Anything From Bernanke's 3:45pm Speech' story ?