Is there anyone who would be willing to summarize the above in normal English?
It sounds like that if a buyer were to go and buy silver futures, say a hundred 1000 ounce contracts (not sure if the standard contract is that size or not) and then instead of selling the contracts when they come due actually asking for physical delivery of the silver their personal vault somewhere, then COMEX is buying them out way above market price so that they do not have to deliver physical silver.
This makes it seem that COMEX doesn’t really have all the silver they say they do to cover all the contracts they sell, which means they are overselling a commodity in order to keep the price down. Or something.
I like to know how they get the money to pay such premium. If they keep doing that, won’t they go bankrupt? So why keep selling futures that they can’t deliver? I find it unbelievable
The take-home message here is:
GOT PHYSICAL SILVER?
If you don’t, you ain’t got nuthin but worthless paper.
If all this COMEX hubub is true then how do you explain silver bar availability at APMEX? Some bars are out of stock but there are still bars available at spot silver price ($36.30) plus $1.29 (approximate)
http://www.apmex.com/Category/1184/Silver_Bars_.aspx
the guys name is LOU CYPHER??? Really???? LUCIFER???
The Bears will explain everything:
http://www.youtube.com/watch?v=AId_UiPtPpQ&feature=related
Go to www.zerohedge.com
for further info.
There are only 1600 Comex silver contracts for March 2011 outstanding as of Friday March 4.
I suspect this story is nothing more than a well written story to excite.
Silver is on a tear tonight. And I was hoping for a downward correction. I read somewhere that less than 1% of 1% of the general population is buying physical silver. If just 1% of the population bought an oz of silver tomorrow it would cause the COMEXMORGANFED to lose control of their silver manipulation game and silver would settle at its normal 15 to 1 gold ratio.
Silver Ping.
Up to $36.30 tonight... somebody better wake up Blythe, stat.
mark
Goldbug ping.
Its funny someone doesnt bow to pressure..and go for “it”.
In 2008 Minn Grain Exchange, supposedly the trade caught the Canadian Wheat Board (a govt entity) short the wheat market....
the “trade” took the wheat market from 8.00 to 22.00 with up daily limits, not letting the Ca. wht board even a chance to get out.
Where are the greedy capitalists on the silver trade?
G. Soros-—here is your chance for some extra pocket change
Silver Ping