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For First Time Total Comex Silver Drops Below 100 Million Ounces; Physical Deliverable Silver Under 28 Million Oz
The slow, steady, very predetermined and methodical depletion of Comex silver, which recently entered 6-sigma range for a perfectly random event, or is the preparation for a Hunt Bros squeeze, now that there is 32% less silver (27.9MM vs 41MM on April 19) than there was 2 months ago, is starting to become disturbing to anyone who can identify a flat line pointing northeast at -45 degrees. Contrary to promises from virtually everyone that the ongoing decline in registered silver is something very temporary, the perfectly diagonal chart below begs to differ with this naive and now disproven hypothesis. The culprit for today's decline to a new record low is Brink's warehouse, where there was a 9% draw down in both registered and eligible silver. In the meantime, registered silver has not posted an uptick in over 3 months. Amusingly this is happening even as the price of spot and futures silver continues to trend lower. We wonder at what point will the general public wake up to what is happening (hint: here): 25MM oz? 20MM oz? 10MM oz? 0? When Bloomberg writes an article how physical silver is the equivalent of Japanese off the charts safe purchases? Never?
Daily change from the Comex:
A longer-term chart:
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Where is the $20/oz silver you said was coming in June? I mean, it only costs $5 to dig it out of the ground...
hog wash; them days of unfettered capitalism be limping now; the spurs can no longer be put to this horse called state capitalism. once the common and middling throw off the yoke of corporate branding and unite; ball game is over. over i say; over for the republikan brand and the demokratik brand of citizens united hooliganery. my point you ask? well i forgot wherst i go
you're addressing persons who think a coin collection is a reitrement account; give up; it's useless.
I guess on your planet, the US Congress is ACTUALLY cutting spending! Get a clue.
Timeline of events, which may be inevitable....
1. Comex default event sends silver and gold skyrocketing
2. SLV and GLD start experiencing demands for physical delivery
3. SLV and GLD blow up
4. Money plows into mining shares
This may take time, but eventually the market will uncover this fraud. My popcorn is ready
Without a timeline, your "prognosis" is utterly unactionable...
Uhhh, not really. Buy physical. With no margin.
That's all you have to do. And it has worked for YEARS.
Apmex doesn't have those nice 10oz Heraeus bars anymore. :(
Triple Witch Friday Bitchez.................!
my friend jeff says j6p will figure out this bullshit when the prices of meth and mayo go giddy for inflation.
phew, there's a visual. . .
Why is this bar stamped Alcoa?
better than Hersheys?
drip, drip, drip.
hit 'em where it hurts.
Two words, to take down the whole mf'ing system.
TAKE DELIVERY.
Cash, PMs, everything...
Ah, simple thoughts for simple minds; now if only there was a simplistic properly scaled universe in which your simplistic analysis could be meaningful. Unfortunately, there is not.
Wow, are you smart! I can tell by your user name.
lol
It is important to let everyone know. He also drives a Smart car with a personalized license plate with the same declaration. He also has a bumper sticker that says "13 inches".
re: history of silver's "efficient markets", pages 8-13 offer additional perspective:
http://www.10sigma.com/files/Martin%20Armstrong%20Biography%20May%202011.pdf
Harvey Organ thinks that SLV, Comex & London "own" the same 28 Million ounce silver inventory.
Probably.
Fractional reserve banking and all that. They always fail. Matter of time.
aaaaaaaaand its gone. its gone. its all gone.
charg'd particles; them blokes at mit and nasa be fiddle fartin around with this new fangl'd battery with liquefied - + stuffs; long quatrain short; we all know's how our ancestors used mercury for propulsion in their space craft; yet we just can't replicate it. the missing link be silver; hence hold the precious for it's highest and best use be coming
Well duk-tape me to a wheelie seat an do spins down that their hill yonder. Points me in the spot wer I cans pontificated more on it Plata. Be ever gratesful I would.
Took Gainsville 5 weeks to deliver 60 oz. to my door...and only after I made 3 calls asking, "Where is my Silver?"
Dear Mr. Castellano,
As you know from the below email, our office has the honor and responsibility of representing XXX. XXXXXXXXXXX. We would appreciate confirmation as soon as refunded our client in full. I am at a loss to understand why you required wire instructions when a credit will suffice.
In any regard, please refund the amount in full promptly and be sure to reply to me that same has been completed.
Thank you for your assistance.
Rusty Huseman
William R. Huseman, P.A.
3733 University Blvd. West, Suite 305A
Jacksonville, Florida 32217
(904) 448-5552
Fax (904) 448-5653
I told everyone here time and time again! but NO ONE wanted to hear it! NO One wanted to know the truth! Everyone wanted to listen to the Salesman Plants!
Now ya Fucking Know!
What does a real estate attorney have to do with Silver?
http://jaxattys.com/blog/
Gainesville has always been a good source at fair shipping prices and they are nowhere near Jacksonville (armpit of Florida)
Edit: Did your mom ever get her Silver?
http://www.zerohedge.com/article/silver-touches-3490-us-mint-runs-out-bu...
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File Format: PDF/Adobe Acrobat - Quick View
Jacksonville, FL 32217. Email: Rusty@husemanhealthlaw.com. William R. Huseman, P.A.. 3733 University Blvd. W. Suite 305 A. October 2, 2010. Suite 305-A ...
www.husemanhealthlaw.com/images/.../Audits%20and%20Compliance.pdf
Rusty Teaches as well as his pro-bono work or community outreach. My Mothers Money was returned within an hour of this email being sent. As for Jacksonville being the asshole of the State, only if you dont count the west coast of Florida. Jacksonville is far better than the West Coast but a lil more rustic than South FL. Now, go shoot yourself towel head.. save me the time later.
How do we know that these draw down figures are correct?
In what ways have we verified the authenticity of the transactions that allegedly move silver from registered to eligible?
Perhaps we are being gamed?
The PTB know that even though most of us have escaped the notional/nominal matrix, we still have a part of us that is dissonant.
Think of the additional shakeout that might be in the future. It's almost as if we are ignoring the fact that everything else is deception in the PM complex.
A good confidence man will ascertain the character of the mark, and let some of them understand part of the scam. This, so the mark is compelled to game the conman. As they do, the trap is sprung... hook, line, and sphincter
Dont worry I can Print more for less than $5 bucks and I will make it out of ediable paper!
SO! Less than $5 Bucks and YOU! CAN!! EAT!!! IT!!!!
hate to sound a bit grey,,, but yes indeed it would not suprise me that the comex and their friends have raft upon rafts of paper manipulation and skull duggery up their sleeves..and the long game may be a very long game... but am i long...YES... it is one of very few ways we effectively withdraw our support for this elitist trickle up theft of all we have... silver, gold and a small punt on bitcoin(Open Source means so much and is so alien to traditional banking).
comex may be jus a sideshow... or may be very significant indeed. I would never dare to suggest i could see all the angles ... but every time i can affor a few coins i will buy them...
I think as long as you can call the small mints and they reply back yes we have silver to sell, then no panic will really start.This is because even I will sell most any of my silver without much concern as long as I can replace it on the same day at nearly the same price.
I am guessing that many others will think just as I do too.It tends to be because shortages claimed on the Comex just do not mean much if they are so far away from home, they just do not seam relevant.What happens in Afghanistan, the Comex or Hodineyville, is not like when the shortages are in the small mints in you own town, that's when it hits home, its personal then.I believe that the powers that be must also know this too.So expect that the very last places to be allowed to show any shortages will be those small mints.Showing shortages to a few rich people where you have fewer to pay off is easier to hide than showing shortages to thousands and thousands of poorer more numerous people.
My god, you couldn't make this stuff up; it's funnier than the "Onion", and it's free!
Glad you're being amused -- check this out for the punchline: www.usdebtclock.org
It not so much the Comes getting drained.....its that the USA´s value is getting drained...this silver is leaving the USA I believe...going to a safe haven or at least closer to the owners home..
can LulzSec nuke this comment section?
LulzSec will never do anything to ZH.
Perhaps you don't understand "freedom of speech" or "Liberty"?
I didnt say ZH, i said comment sections talking about lulzsec. just fucking idiots - worse then the 80s talking about hackers
When 1% of the population that currently knows nothing about silver finds out its like gold "only cheaper", then 10%, then every coin dealer will have more in assets than any bank in town, except in the safety deposit boxes. How long before those little piggies are broken open like the pension funds?
When FDR confiscated Gold, the only Gold he got was in Bank Safety Deposit Boxes. Anyone with anything valuble in a Bank's Safety Deposit Box is an idiot.
I know this keeps statistic keeps getting paraded around, but what exactly am I supposed to take away from this? It seems like with the recent price action that it doesn't even matter at all, but on the other hand if their tradable supply keeps dwindling like this why is the front month contract so important to pricing the metal. "We're all fucked" isn't actionable information, but maybe someone who's an insider to commodities trading could explain why and how this is important?
Here is a ratio chart of Comex registered silver vs US Mint sales http://i54.tinypic.com/14y4v4.jpg
Yes, but the Mint can't get silver to make coins. And who can trust COMEX figures? So the ratio, getting smaller is an indication of I don't know what.
the chinese - in collaboration with others - are draining the west's silver stocks....this is the natural outcome of currency debasement and wealth transfers....the torrential trade deficits (along with fiscal deficits) guaranteed the former while treason guaranteed the latter....
this is the canary in the coal mine. the end of western domination is over - fini. the annals will in time show that it was a calculated and planned maneuver by the rockefeller-rothschild axis of evil
Not even close Tony. Yes, China is buying silver. So what. They have ghost cities, 700 million+ in poverty, and their best customers - the West - are broke.
The Chinese are going to blow themselves up like a firecracker show. Think we're all screwed up here? We are sane and completely debt solvent compared to them. Their Central Bank is leveraged at 1200 to 1 per Jim Grant - 10 times more then the Federal Reserve. And that's only what they admit to - born Commie liars that they are.
Plenty of edible paper silver. Let them eat paper silver.
3/4MN oz of registered silver departs the CRIMEX !!
HOLY S**T.
Those delivery charts are wrong!
Quadruple Witching this Friday folks. Maybe we'll get some real play because of it!
+1
"Supply doesn't matter, demand doesn't matter" ?
Plenty of paper silver in supply but when the holders of paper silver contracts find that the CRIMEX cannot deliver physical silver this will all implode and rip a hole in the space/time continuum.
Perhaps tres should look at what sarbane/oaxley costs public companies that are a tenth of a 107 billion! Audits ain't cheap for nobody folks! But those are the rules, play by them!
Transitory Silver:go long.
WTF is this? Anyone with experience in dealing with New Treasury/MorganGoldman rules on Perth Mint Goldmoney accounts? Received this yesterday From EuroPac-
Dear Valued Client:
In regard to your investments in precious metals through the Perth Mint Certificate Program, earlier this year the U.S. Treasury Department amended regulations concerning the Report of Foreign Bank and Financial Accounts (FBAR). Under FBAR regulations, United States persons are required to file a FBAR (Form TD 90-22.1) under certain circumstances. The Report must be received by the IRS by June 30 of the year following the calendar year being reported.
Euro Pacific Capital is not in a position to offer an opinion on accounting or legal issues related to FBAR reporting requirements. Clients may wish to seek the advice of an accounting professional or tax attorney on whether FBAR regulations relate to them in regard to their precious metals investments. Additional information on this topic can be found on the Internal Revenue Service website at the following page: www.irs.gov/businesses/small/article/0,,id=148849,00.html.
Thank you and best regards,
Euro Pacific Capital, Inc.
It means that the US Treasury is being advised which US citizens have a claim on silver which may or may not exist, and there are potential taxes to be extracted from you.
Just take the physical gold/silver into your possession unless it is a ton or more.
Owning PMs directly is freedom.
"Amusingly this is happening even as the price of spot and futures silver continues to trend lower."
Is it impossible that this is happening precisely *because* SLV trades lower? Raiding PM ETFs to cover your short positions with physical could be the cheapest way to do it without moving the market. No?
I noticed this as well. Registered silver fell by 773,000 ounces yesterday and is now down to 27,924,074 ounces. Eligible fell by 1,226,322 ounces and is now down to 70,892,045. So supplied at the exchange vaults continues to fall rapidly. Weird thing is, the market continues to ignore the ever tightening supplies at the exchanges. When will the market care? There seems to be a larger unknown factor putting pressure on prices. What is this unknown?
http://www.TheAngryGrapes.Com
It will only be a huge problem for producers and consumers of physical silver.
By the way, aren't those the people these futures markets supposedly exist to primarily serve?
Of course, why would a central banker or index fund manager care about that when there’s a ton of money to be made peddling paper silver to so-called investors.
We could all get together, pool our physical, and lend it to the CRIMEX at huge premiums. They float a while longer, we all retire to the beach.
This fall is going to be interesting. looking at that chart it's around my
birthday Nov 8th that the inventory will reach 0.
Maybe Nov. 5th? Your avatar thinks it apropos.
As I understand it, the COMEX is currently settling most contracts with SLV paper:
http://harveyorgan.blogspot.com/2011/06/massive-drain-of-comex-silveralmost-all.html
As COMEX inventories approach silver, where will industry go to find silver for their products? Will there be a raid on the SLV inventory?
By my count, it's about 20%, but I haven't been keeping rigorous track of it.
Cliff note on why silver depletion is important please. (Is it because it's being priced down and sucked out by wealth-power as to explode exponential when the theving is done?)
We are certainly going to have fireworks in July!
http://dont-tread-on.me/huge-drop-in-silver-inventory-today/
This trainwreck will be worth watching.
The last big slump in registered silver stockpile was June 6th and in 1 day we have 3/4MN oz leave.
I almost fell off my chair with the shock.
To answer the question, the general public will not notice when physical drops below zero. Hell, they won't even notice when physical drops below zero and simultaneously they owe 50-quadrillion tons of physical to people.
By then, many of us here at ZH will have huge caches of silver and gold hidden all over the place, especially if the price dips below $30 one last time. Yeah, I know, wishful thinking. I agree.
It only costs $5 to dig a troll out of the ground and get him to post comments about how silver is going to permanently crash back to $8. But you still don't get an ounce of sincerity.
"For First Time" ?
Does this mean we have one up on the billionaire Hunt brothers ?