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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.

 

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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?

 

I O U

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.

http://www.gata.org/node/12132

 

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:

http://www.youtube.com/watch?v=UQTa66gCggY

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 anywhere...you'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.

 

Regards,

 

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)?

www.tradewithdave.com

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.

Thu, 01/17/2013 - 12:39 | 3162612 LongSoupLine
LongSoupLine's picture

Those fuckers at HSBC and JPM should get a fucking silver fucking bullet in the or fucking heads...starting with super fucking cunt, Blythe.

Fuck you banker assfucks.

Thu, 01/17/2013 - 12:40 | 3162621 idea_hamster
idea_hamster's picture

Come on. dude -- open up.  Tell us how you really feel.

Thu, 01/17/2013 - 12:40 | 3162628 unrulian
unrulian's picture

ok.... or you could just ask them nicely to stop

Thu, 01/17/2013 - 12:42 | 3162639 LongSoupLine
LongSoupLine's picture

I already do that...every time I take delivery of physical.

Thu, 01/17/2013 - 12:50 | 3162673 HoofHearted
HoofHearted's picture

I picked a good day to wear my "Kiss my ass, JP Morgan. I got silver and you don't" t-shirt. It's under my long sleeve shirt, because it just wouldn't look right to go teach some financial math classes while wearing such a shirt. Now, should it be ok to wear it? Would it inform the students more than the Black & Scholes formulas do? Well, I have my opinions.... 

Thu, 01/17/2013 - 13:04 | 3162711 pods
pods's picture

Well if the whole class bombs the next exam you might don one of these:

http://www.spreadshirt.com/i-shaved-my-balls-for-this-C3376A7367581

pods

Thu, 01/17/2013 - 13:41 | 3162909 debtor of last ...
debtor of last resort's picture

Wonder what's on your long sleeve. Fuck you Bernanke?

Thu, 01/17/2013 - 14:40 | 3163203 W74
W74's picture

At my university....we only have Keynesians.

Thu, 01/17/2013 - 15:44 | 3163482 CompassionateFascist
CompassionateFascist's picture

Just plain stupid. It's only thanx to Blythe, Comex, and SLV that many of us have been able to do the (real) silver stacking we've done over the past few. 

Thu, 01/17/2013 - 12:40 | 3162620 Dr. Engali
Dr. Engali's picture

572 tons soon to be Corzined.

Thu, 01/17/2013 - 12:51 | 3162677 Temporalist
Temporalist's picture

It was probably Corzined first, but that is just semantics.

Thu, 01/17/2013 - 12:40 | 3162625 spankfish
spankfish's picture

So that's where I left all my silver... hmmm thought it sank during that barge accident?

Thu, 01/17/2013 - 12:40 | 3162629 LawsofPhysics
LawsofPhysics's picture

Doesn't mean shit unless it can be delivered.

Thu, 01/17/2013 - 12:45 | 3162646 Ancona
Ancona's picture

I wholeheartedly agree with your comment. This has become like watching a Wiley Coyote cartoon. I doubt they have even a hundredth of what they state they have. It's a paper scam of biblical proportions and I can't wait to see it implode one day.

Thu, 01/17/2013 - 12:54 | 3162690 NotApplicable
NotApplicable's picture

You really think there's any difficulty in acquiring that much Comex paper?

According to the prostpecus, physical never has to be delivered to the trust.

So, until the fund blows up (right after the Comex does), it is moot.

Thu, 01/17/2013 - 12:42 | 3162640 Desert Irish
Desert Irish's picture

So...The Feds going to take 7 years to ship 700 tons of gold to Germany and SLV adds 572 tons of silver overnight? Maybe Germany should just hire HSBC to ship their gold. Just sayin......

Thu, 01/17/2013 - 12:45 | 3162653 SubjectivObject
SubjectivObject's picture

Fed/Treasury claims GSR conditions apply.

Thu, 01/17/2013 - 12:52 | 3162669 Temporalist
Temporalist's picture

The reason it's going to take 7 years for Germany to repatriate their gold is that unicorns are difficult to come by and that is how they will be shipping the gold over the Atlantic.  Also Magic Skittles, Unicorn's favorite food, had a supply disruption because they have been allocated to that hirsute leprechaun Krugman's trillion dollar platinum coin minting factory where they are the fuel used to feed the hopium furnaces.

 

Oh...and we're all out of Twinkies too!

Thu, 01/17/2013 - 12:57 | 3162696 NotApplicable
NotApplicable's picture

I'm assuming that they will run the same boatload of gold back and forth enough times to appear to have shipped X amount to Germany, as tungsten is likely the only other choice, and I'd assume they'd prefer to keep that stuff safely out of sight.

Thu, 01/17/2013 - 13:20 | 3162785 samsara
samsara's picture

"The reason it's going to take 7 years for Germany to repatriate their gold is...."

It's in DEEP Storage....

(ie Yet to be Mined)

 

Thu, 01/17/2013 - 13:53 | 3162973 youngman
youngman's picture

Actually if I was a Foreign country....and I saw this.....I would ask for the order to bring my real metal back to my shores...this just shows how rigged it is....and I would want to protect my peoples money.....this is like setting off 3 more dominos......its going to go faster now.....funny I think GLD and SLV will end up with trillions of ounces.....but have nothing.......Hos is the Pimco mouth piece saying to slow down..don´t rush things..we are all in this together.....well to the lippy Indian or Arab....we are not in this together...things like this make it everyone for themselves...

Thu, 01/17/2013 - 18:56 | 3164253 Bansters-in-my-...
Bansters-in-my- feces's picture

I whole heartedly agree with your comment Desert Irish,other than the number.

I think the USSA told them only around 300 tons is all they may get...

Thu, 01/17/2013 - 12:44 | 3162643 francis_sawyer
francis_sawyer's picture

I was at the coin shop on Tuesday... There was only one other guy there at the moment & he was trading in about 10 AGE's for a whole box of of 10 Ag bars... I should have asked him if he was interested in a bunch of shares of SLV [but I think I know what the answer would have been]...

Thu, 01/17/2013 - 14:36 | 3163182 W74
W74's picture

Dude, can't even get Au and Ag for even 1% over spot anymore like in the old days.  Now maybe 3% if you're lucky.  Even the numismatic shops are having a hard time supplying what's demanded.

Thu, 01/17/2013 - 15:38 | 3163468 francis_sawyer
francis_sawyer's picture

The only way you can get close to that premium anymore is with 'junk'... That's what I was in there to buy... They had ZERO inventory pretty much told me that it's getting harder to come by... They used to have bags & bags of the stuff...

Thu, 01/17/2013 - 12:43 | 3162644 Bay of Pigs
Bay of Pigs's picture

More importantly, what does Bart Chilton have to say?

Thu, 01/17/2013 - 13:50 | 3162944 RockyRacoon
RockyRacoon's picture

That's the sound of crickets you hear.

What Ted Butler has to say will be more important (and believable) anyhow.

Thu, 01/17/2013 - 12:44 | 3162645 Never One Roach
Never One Roach's picture

Demand is very strong for Hard Assets.

Thu, 01/17/2013 - 12:44 | 3162647 SmallerGovNow2
SmallerGovNow2's picture

Added shares of paper so they can continue to short paper and manipulate the price lower...

Thu, 01/17/2013 - 14:34 | 3163177 W74
W74's picture

So what happens when they can no longer short paper?  Price of the SLV etf game collapses and shareholders are left with nothing after buying into a system of nothing?

Thu, 01/17/2013 - 12:45 | 3162650 Al Gorerhythm
Al Gorerhythm's picture

Comstock lode found under 270 Broadway, NY.

Thu, 01/17/2013 - 12:45 | 3162655 One Ton Lady
One Ton Lady's picture

Oh yeh sure, like i believe what they say about SLV,

 

Just like i believe that jew, gene rosen , kvelling on about how much of a hero his sorry yiddish ass was.

Thu, 01/17/2013 - 12:46 | 3162657 Money 4 Nothing
Money 4 Nothing's picture

If silver or Gold go up, the game of cooking the books and supposed inflation % game is over. You will be able to draw a direct coorelation to other metrics.  Must... keep. the price down!

Thu, 01/17/2013 - 12:48 | 3162663 Lmo Mutton
Lmo Mutton's picture

Silly rabbits, SLV is for kids.
3D printers man.

A little more expensive than ink, but works the same magic.

Thu, 01/17/2013 - 12:57 | 3162694 Sutton
Sutton's picture

Who sold it?

Rehypoed imaginary silver.

Manti Te'o gets mocked if he was duped, but people who think SLV actually bought that much silver get off free.

Thu, 01/17/2013 - 13:10 | 3162742 mayhem_korner
mayhem_korner's picture

 

 

Did the Bundesbank request this?

Thu, 01/17/2013 - 13:13 | 3162750 americanspirit
americanspirit's picture

Does anyone share my discomfort that SLV is in the hands of an acknowledged international criminal organization HSBC? I'm not uncomfortable because I own any shares of SLV, which I don't, but I am VERY uncomfortable that this narco-trafficing, money-laundering gang of financial terrorists has control of the world silver market by proxy, and that no law enforcement or regulatory agency anywhere has uttered so much as a peep.

Thu, 01/17/2013 - 13:38 | 3162890 Bay of Pigs
Bay of Pigs's picture

Yes, and think about how much 571 tons (or 18M ounces) of silver weighs. How easy is it to procure anything of that size and move it around? And in one day? 

SLV's "official" holdings are absurd, preposterous and laughable.

 

Thu, 01/17/2013 - 13:57 | 3162990 azzhatter
azzhatter's picture

I only feel comfortable with it in my hands

Thu, 01/17/2013 - 15:19 | 3163389 Panafrican Funk...
Panafrican Funktron Robot's picture

To quote the Honorable Sir Nixon, "It's not illegal if the president does it."

Now consider who owns the presidency.  Laws ain't got shit to do with this.

Thu, 01/17/2013 - 13:19 | 3162776 Quinvarius
Quinvarius's picture

No comment.

Thu, 01/17/2013 - 13:23 | 3162800 digalert
digalert's picture

Why did the US Mint halt silver eagles sales for six weeks? Resuming sales this third week of 2013.

 

Thu, 01/17/2013 - 13:56 | 3162987 ParkAveFlasher
ParkAveFlasher's picture

DING DING DING DING winnah

Thu, 01/17/2013 - 13:26 | 3162816 Gloeschi
Gloeschi's picture

every dollar spent on paper silver (SLV) is one dollar less spent on pysical silver #elegantwayofpricesuppression

Thu, 01/17/2013 - 13:33 | 3162867 debtor of last ...
debtor of last resort's picture

Huh? Paper silver is trading $2,45 under spot as we speak? Rigged markets indeed.

Thu, 01/17/2013 - 13:54 | 3162900 JOYFUL
JOYFUL's picture

Although it's being talked down by the usual mining industry  apologists, the announced failure of Barrick Gold to unload it's African properties onto(state-owned)China National Gold Core this week marks a decisive phase in the deteriorating fortunes of the world's biggest gold miner\money launderer, and speeds up an appointment with destiny already accelerated by the Pascua-Lama debacle.

Formerly unlimited capital has been drying up apace, as the noose tightens on the bullion banks whose hypothecation\lease loaning of precious metal inventory has been cut to the bone by the heavy flow of physical stock eastwards. And the parallel flow of drug $ awaiting a wash has been backing up as a result.

Barrick, notoriously uninvestigated and unchallenged in it's presumptive role  of 'gold miner' has very few quality assets in its fold now, and has always depended upon buying up real miners and forward selling their production....part of it's two pronged strategy and raison d étre -forcing pm prices down. As the Argentine-Chilean property comes into focus within the next 3 to 6 months as an almost unlimited liability, the wheels are going to come off quickly - meaning the end of price suppression at last...not by way of termination of their partner in crime's(JPM)activist role, or COMEX shenanigans, but the simple loss of effective control of the mining industry which Barrick has exercised now for almost two decades.

Like the progression of dimwit brother Joe Napoleon 'King of Spain' back towards the safety of the Pyrenees 200 years ago, retreat will turn to rout, soon enuff, and hard-riding troopers of the Heavy Metal cavalry  intent upon cast off loot will be able to pick up great amounts of it amongst the roadside debris as Barricks' palenquin gets lighter n lighter in the haste of flight! Sharpen those claymores, gentlemen, you'll soon being seeing backsides to use them on!

Thu, 01/17/2013 - 14:13 | 3162915 moonstears
moonstears's picture

One lucky Aussie added 5 kilos+ GOLD yesterday...see...http://www.thecourier.com.au/story/1242592/gold-nugget-found-near-ballar...

He's got pics to prove it.

Best quote in brief article "There’s nothing like digging up money, it’s good fun." Think on that, fellow ZH-ers.

Thu, 01/17/2013 - 13:47 | 3162929 Save_America1st
Save_America1st's picture

"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."

EDIT:  Whether this was due to arbitrage, or simply the need to "invent" inventory we don't know: we are confident however, that SLV custodian, money laundering expert extraordinaire HSBC, will have no comment.

 

There...fixed it for ya!

 

Thu, 01/17/2013 - 13:56 | 3162983 azzhatter
azzhatter's picture

I took delivery of 10 ounces this week

Thu, 01/17/2013 - 13:57 | 3162993 ParkAveFlasher
ParkAveFlasher's picture

Did you order it in 2006?

Thu, 01/17/2013 - 13:56 | 3162988 Carl LaFong
Carl LaFong's picture

What a load of absolute BULLSHIT. People who invest in this sham are going to get killed one day. Everybody who knows anything about the phys silver market knows this is physically impossible. This vehicle's only purpose is price manipulation. My only question is, "What's going to happen when they start manipulating the other way?"

Thu, 01/17/2013 - 14:01 | 3163011 slightlyskeptical
slightlyskeptical's picture

You need to own the shares before you sell them. I see a big silver liquidation in the works.

Fri, 01/18/2013 - 02:24 | 3165392 Lord Koos
Lord Koos's picture

eggsactly

Thu, 01/17/2013 - 14:01 | 3163013 Stuck on Zero
Stuck on Zero's picture

Anyone check to see if the silver bars they hold are magnetic?

 

Thu, 01/17/2013 - 14:03 | 3163027 Quinvarius
Quinvarius's picture

I like how SLV did less than 10 million shares volume yesterday.

Thu, 01/17/2013 - 14:15 | 3163087 de Cosmos
de Cosmos's picture

Wow!  They must have bought the entire Madoff silver hoard.

Thu, 01/17/2013 - 14:22 | 3163109 sawman
sawman's picture

Easy really! Create another shit load of paper silver backed by nothing and use it later to smack down the market price of the real stuff - rinse and repeat - corrupt bastards

Fri, 01/18/2013 - 01:37 | 3165347 Out9922
Out9922's picture

Bingo!!!!

Thu, 01/17/2013 - 14:23 | 3163119 Ignorance is bliss
Ignorance is bliss's picture

If not for manipulation I couldn't afford to loose any PMs in lake Wobegon. The true value of Gold and Silver are well beyond the means of a fiat slave such as myself.

I thank you JPM, Blythe, HSBC, King Cornholio of the U.S. Thank you Thank you  Thank you.

Thu, 01/17/2013 - 14:28 | 3163140 mark mchugh
mark mchugh's picture

I hate correcting Mr. Durden, but JP Morgan is the custodian of SLV:

http://prospectus-express.newriver.com/summary.asp?doctype=pros&clientid...

We all get our evil overlords confused from time to time...

Thu, 01/17/2013 - 14:41 | 3163204 reTARD
reTARD's picture

That was SO easy. I have a computer. Don't you?

Thu, 01/17/2013 - 15:05 | 3163324 W74
W74's picture

Options Expirations tomorrow. What can we expect to happen with silver shorts?

Thu, 01/17/2013 - 15:14 | 3163365 Herkimer Jerkimer
Herkimer Jerkimer's picture

'

'

'

Isn't HSBC the $#!+-Rats that just got pinched for money laundering?

 

You don't think these shysters would be doing something with the SLV, like just printing paper with no silver behind it, now would you?

 

That would be "illegal".

 

OJO

V-V

Thu, 01/17/2013 - 15:17 | 3163379 mt paul
mt paul's picture

let them 

eat paper....

Thu, 01/17/2013 - 15:18 | 3163386 cynicalskeptic
cynicalskeptic's picture

At least with the gold markets you've got tungsten acting as a place holder - what's the stand-in for silver?

Thu, 01/17/2013 - 16:48 | 3163726 AE911Truth
AE911Truth's picture

Molybdenum 10.188 g/cm^3

Silver 10.490 g/cm^3

source: http://www.simetric.co.uk/si_metals.htm

Thu, 01/17/2013 - 15:29 | 3163425 Venerability
Venerability's picture

Commerzbank forecast - Commerzbank holds most of the former Dresdner MegaSilver Short - on top of GFMS strong statements - had to be the final straw that threatens to break the Alpha Bank's (JPM's) back.

JPM is beginning to see it is just not worth it!

In fact - a very interesting little sidelight - Uber-corrupt Zack's - the new Dorfman or Marcial - which often seems to do JPM's dirty work - has actually been rating the major US and Canadian silver producers as Strong Sells the past few days. Which is, of course, breathtakingly astonishing and pretty much an admission that their "opinions" are for sale to the highest bidder.

Does anyone NOT think JPM surrogates are avidly lapping up every single stray share Zack's can manage to shake out - which one does not suppose is very much.

Thu, 01/17/2013 - 15:36 | 3163457 trip kitchen
trip kitchen's picture

They think all this SLV paper will cover their naked shorts, but I can still see their naughty parts.

Thu, 01/17/2013 - 16:25 | 3163638 Obnoxio
Obnoxio's picture

I don't trust any of the Gold or Silver ETFs. I prefer quality mining stocks like Goldcorp if I'm unable to have the metal in my hand.

Thu, 01/17/2013 - 18:00 | 3164042 pbppbp
pbppbp's picture

Isn't JP Morgan the custodian of SLV?

Thu, 01/17/2013 - 19:42 | 3164408 tugtrash
tugtrash's picture

Tyler I belive that you may have miss labeled this article. It should have read:

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

The fact that it was created out of thin air probably should have been mentioned too.

Fri, 01/18/2013 - 04:26 | 3165483 slvrizgold
slvrizgold's picture

Don't forget guys, Jim Cramer's favorite way to play silver is... you guessed it...  SLV!!!  

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