SLV Adds Record 572 Tons Of Silver In One Day, More Than In All Of 2012

Tyler Durden's picture


Technically the addition of 572 tons, or a massive 18,378,092 ounces of physical silver, to the SLV ETF, in one day is not a record, as it excludes one amount which however was a year end rebalance at the end of 2007 offset promptly on the next day, but it certainly is the biggest one day addition of physical silver to SLV in ordinary course operations. It is also more silver added to the ETF in all of 2012, when just 544 tons were added in the entire year. This was driven by the creation of some 19,000,000 shares of SLV overnight which brought the total to 356.8 million shares. And since there has been no move in the price of silver, which certainly would have soared had this amount been purchased in the open market we can only assume this has to do with in kind basket creation taking place. Whether this was due to arbitrage, or simply the need to create inventory we don't know: we are confident however, that SLV custodian, money laundering expert extraordinaire HSBC, will have no comment. Just as there is no comment why in the days following the epic May 1, 2011 take down of silver, a nearly just as large 522 tons of silver poured out the ETF on May 4, 2011. What is certain is that a move of this size is certainly notable.

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 01/17/2013 - 12:37 | 3162595 Cognitive Dissonance
Cognitive Dissonance's picture

So you're saying that someone moved an I.O.U from from PM vault to another?



Thu, 01/17/2013 - 12:39 | 3162606 idea_hamster
idea_hamster's picture

Is this the opposite of that "GLD Puke Indicator"?  

If it's the opposite of a major redemption, then perhaps we're looking at a short-term trough in the metal itself.

Thu, 01/17/2013 - 12:38 | 3162614 AlaricBalth
AlaricBalth's picture

Did iShares just invade Bolivia. Hadn't seen the news.  ;-)

Thu, 01/17/2013 - 12:40 | 3162632 Deo vindice
Deo vindice's picture

Unaudited, of course. Pretty soon the emporer won't just have any clothes. He won't have any skin either.

Fiat silver. Now that's an oxymoron.

Thu, 01/17/2013 - 12:42 | 3162637 Stackers
Stackers's picture

SLV = a picture of a picture of a bar of silver printed with disappearing ink on magicians flash paper.

Thu, 01/17/2013 - 12:48 | 3162665 THX 1178
THX 1178's picture

Bolivia is just a base of operations for an eventual invasion of the real prize: PERU. False flag imminent? /sarc

Thu, 01/17/2013 - 13:12 | 3162746 Harlequin001
Harlequin001's picture

So where did they just find 572 tons of physical silver without moving the price?

Physical silver my arse.

It should be crystal clear that these ETF's have no fucking bullion whatsoever.

Thu, 01/17/2013 - 13:57 | 3162978 strannick
strannick's picture

GLD's custodian is the biggest gold short, HSBC.

SLV's custodian is the biggest silver short, JPM.

Luckily for the banks orchestrating this chicanery, they only have the CFTC Commisioners to worry about. Jill Sommers. Scott OMalia. Bart Chilton. Mark Wetjen. Gary Gensler. Names to live in finanical fraud infamy.

Andrew McQuire had a great piece on how SLV and GLD are used to manipulate PMs down.

Thu, 01/17/2013 - 13:59 | 3162992 Pinto Currency
Pinto Currency's picture


Not sure what is growing faster - the Fed's balance sheet or SLV's inventory.  The race is on and both can grow without limit.

Thu, 01/17/2013 - 14:17 | 3163070 nope-1004
nope-1004's picture

All is fair in love and war.

Although I'm not into 'predictions', Nostradamus hit the nail on the head:

Nostradamus: (Cent. 8 Quat. 28)

Les simulacres d'or & argent enflez,
Qu'apres le rapt au lac furent gettez
Au desouvert estaincts tous & troublez.
Au marbre script prescript intergetez.

Translates as:

The copies of gold and silver inflated,
which after the theft were thrown into the lake,
at the discovery that all is exhausted by the debt.
All scripts and bonds will be wiped out.

SLV and GLD are paper frauds.  Everyone knows it, but time is required to get things in order before price accelerates upward and default can be publicly palatable.


Thu, 01/17/2013 - 14:42 | 3163217 MillionDollarBoner_
MillionDollarBoner_'s picture

"The copies of gold and silver inflated,
which after the theft were thrown into the lake,"

So Nostradamus had a boating accident too?

Surprised he didn't seee that coming...

Thu, 01/17/2013 - 15:39 | 3163475 RafterManFMJ
RafterManFMJ's picture

See if you can find the Quatrain where he tells me where the **** my car keys are?

Thu, 01/17/2013 - 19:05 | 3164284 nope-1004
nope-1004's picture

Thanks Chris.  Saw your reference on Twitter.


Thu, 01/17/2013 - 14:22 | 3163010 FEDbuster
FEDbuster's picture

My silver gets moved from local coin shops and internet purchases via USPS to my gun safe.  Where no rehypothication or leasing occurs.  I am my own Central Bank, with a fiduciary duty to my family.  

In two minutes Kyle Bass teaches you everything you ever need to know about COMEX/NYMEX gold and silver contracts:

Thu, 01/17/2013 - 19:21 | 3164345 lincolnsteffens
lincolnsteffens's picture

Where's the sound volume?

Thu, 01/17/2013 - 19:36 | 3164390 espirit
espirit's picture

ctrl + p

3D printers have finally breached the alchemy paradox.

Fri, 01/18/2013 - 02:15 | 3165385 Lord Koos
Lord Koos's picture

They needed the extra tons of (paper) silver to dump on the market should silver pop over $34 an ounce.

Thu, 01/17/2013 - 13:10 | 3162743 Stock Tips Inve...
Stock Tips Investment's picture

Numerous indicators seem to point to the opposite. The Smart Money is buying gold (and silver too sure). Try to lower prices until their needs have been completed. In the medium term, prices of Gold and Silver will rise ... much!.

Thu, 01/17/2013 - 12:49 | 3162666 NotApplicable
NotApplicable's picture

So... just how much does 572 tons of Comex paper silver weigh?

Thu, 01/17/2013 - 13:01 | 3162700 HoofHearted
HoofHearted's picture

Hell, at a cost of $5 an ounce to pull the stuff out of the ground, that's some real money. 

Right, MDB?

Thu, 01/17/2013 - 14:22 | 3162920 francis_sawyer
francis_sawyer's picture

I still love the $5 an ounce image...


Let's see... Minimum wage is what?... Something like $7 bucks & something?... So your cost of labor [at minumum wage] to reach $5 bucks is like 40 minutes of human labor [as well as the GUARANTEE that you'd be pocketing one ounce per increment of time]...

Every year ~ I dig several new 4x8 gardens, which really only go, maybe a foot into the earth... I've logged in countless hours doing so... Ain't struck no gold yet...

Thu, 01/17/2013 - 16:04 | 3163556 Likstane
Likstane's picture

You couldn't mix in Joobux're slipping!

Thu, 01/17/2013 - 16:52 | 3163760 francis_sawyer
francis_sawyer's picture

I thought deeply about this...


Everytime I publish it... CROCKETT & CH1 come charging out of the woodwork to drop comments... The only way to avoid those two ostriches is to avoid it, [though ~ by definition, I suppose I am ALSO denying them of their pre-born destinies of CURING all the injustice in the world & saving the worlds paper debt monetary system in the process]... 

Thu, 01/17/2013 - 18:23 | 3164104 Likstane
Likstane's picture

At least you silenced Croc-o-shit for awhile.  Hopefully he will make good on his promise to cease posting/defending the official US goverment 911 story. 

Thu, 01/17/2013 - 18:31 | 3164157 francis_sawyer
francis_sawyer's picture

Truth is ~ I'm not trying to SILENCE anybody... Anybody can say anything they want... Then again ~ if they want to be 'Barbara Streisand' and move out of the country if their fucking political candidate doesn't get elected... That's their problem...

Thu, 01/17/2013 - 13:07 | 3162718 fuu
fuu's picture

How many iron oxide atoms are required to hold 111111101001000101000101 as a value?

Thu, 01/17/2013 - 14:30 | 3163153 ParkAveFlasher
ParkAveFlasher's picture

Tell you what, pretty soon they'll really start to need silver ... for their processors, of course ...

Sat, 01/19/2013 - 13:20 | 3168896 Pseudo Anonym
Pseudo Anonym's picture

a "bin nazi" would point out that you are 'bout 1.7m oz's short: 1000110000110110101101100 minus 111111101001000101000101 dif 110011101110000100111 to calculate how many iron oxide atoms are required to hold that value in 64/32/16 bit registers (cpu) or mem (ram/dram/sram/..)

Thu, 01/17/2013 - 13:09 | 3162733 savagegoose
savagegoose's picture

weighs about $572M

Thu, 01/17/2013 - 13:46 | 3162927 Teamtc321
Teamtc321's picture

I'd say the 16oz baseball used for the paper weight, is heavier.  

Thu, 01/17/2013 - 12:56 | 3162692 johnnymustardseed
johnnymustardseed's picture

Remember of course JPM can and will sell 800 million ounce in a millisecond and this means nothing. I am surprised that they have let it go above $31. Beat down coming

Thu, 01/17/2013 - 15:37 | 3163465 CompassionateFascist
CompassionateFascist's picture

So am I surprised. Unpleasantly. Sold some of the real thing last week. I'll get these bastards. 

Thu, 01/17/2013 - 19:02 | 3164274 San Diego Gold Bug
San Diego Gold Bug's picture
Big news today.......How does the SLV add silver when the US Mint has to suspend sales of silver Eagles??? I am a dealer and this is the email I recieved from the mint.  Notice the "allocation process" when they do start taking orders again.  The demand will far exceed the supply and none of the dealers will get the quantities they need.  Price spike is near.

The US Mint has run out of silver eagles and has suspended sales.  They may begin allocating coins the week of January 28th.


Please see a copy of the email we received today from the US Mint:


“Authorized Purchasers,


The United States Mint has temporarily sold out of 2013 American Eagle Silver Bullion coins.  As a result, sales are suspended until we can build up an inventory of these coins.  Sales will resume on or about the week of January 28, 2013, via the allocation process.


Please feel free to call us if you have any questions.




Jack A. Szczerban

Branch Chief, Precious Metals Group

Department of the Treasury

United States Mint”


Thu, 01/17/2013 - 12:57 | 3162695 SeverinSlade
SeverinSlade's picture

Itc's going to take 7 years for the NY Fed to deliver 300 tons of gold to Berlin. How long did it take to deliver 572 tons of silver to HSBC?

Thu, 01/17/2013 - 13:07 | 3162724 NidStyles
NidStyles's picture

The Chicoms don't do subtlety.

Thu, 01/17/2013 - 13:51 | 3162959 tradewithdave
tradewithdave's picture

Measured in dog years (7) or Chilton CFTC metals manipulation years (5)?

Thu, 01/17/2013 - 14:45 | 3163227 W74
W74's picture

Asians only have two modes: Modesty and Holy Shit.

Thu, 01/17/2013 - 13:11 | 3162745 Cognitive Dissonance
Cognitive Dissonance's picture

That my friend is the $2 Trillion $3 Trillion $(fill in the blank) Trillon dollar question.

Thu, 01/17/2013 - 13:50 | 3162896 Ham-bone
Ham-bone's picture

Somebody give Sprott the SLV purchasing managers phone number...obviously if SLV can buy 500+ tons on any given day then it shouldn't be so hard for Sprott's new offerings???

Perhaps Sprott just needs to be more "creative" in his sourcing plan?  Perhaps he should also see what company handles the year end "inventory" for SLV?  Sprott has soooo much to learn regarding the "flexibility" required to be "successful" in todays business environment.

Thu, 01/17/2013 - 12:36 | 3162600 ItchyBeard
ItchyBeard's picture

Silver, Bitchez!

Thu, 01/17/2013 - 12:40 | 3162630 Xibalba
Xibalba's picture

Too bad SLV has none.  

Thu, 01/17/2013 - 12:56 | 3162693 THX 1178
THX 1178's picture

With the effect on the market that have you'd think they owned ALL the silver in the world.

Joe Q. Investor sez, "I'm here to collect my silver. I have 1,000 shares of SLV"

SLV managemnt sez, "Will you take a check of equal value?"

Thu, 01/17/2013 - 12:58 | 3162697 THX 1178
THX 1178's picture

EDIT: "You will take a check of equal value."

Thu, 01/17/2013 - 13:10 | 3162744 savagegoose
savagegoose's picture

EDIT: " you've been  MFG'ed "

Thu, 01/17/2013 - 13:50 | 3162953 Teamtc321
Teamtc321's picture

EDIT: you've been Corzanalized. 

Thu, 01/17/2013 - 14:17 | 3163090 SeverinSlade
SeverinSlade's picture

EDIT: "Here's a list of all of the third parties that, like you, also have a claim against the same physical silver you do.  As you can see, your silver has been rehypothecated quite a bit."

Thu, 01/17/2013 - 18:30 | 3164151 Bansters-in-my-...
Bansters-in-my- feces's picture

Or you have be Ponzined.

Thu, 01/17/2013 - 14:06 | 3163043 Kaiser Sousa
Kaiser Sousa's picture

Hey itchy - 

gave you a green arrow just cause someone gave u a red for reciting the battle cry...

SILVER BITCHEZ!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Thu, 01/17/2013 - 12:39 | 3162610 jimijon
jimijon's picture

I love pointers.

Only the blessed computers can have "those" pointers. Hence why they really crack down on media pirates. If the illusion of only blessed computers can have certain orders of ones and zeros ever crumbles, look out below.

Do NOT follow this link or you will be banned from the site!