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Posted on 04/22/2026 8:30:24 AM PDT by delta7
119th CONGRESS 2d Session H. R. 8007
To amend the Commodity Exchange Act to reduce systemic risk while increasing geographical diversity and competition with respect to depositories for the storage of precious metals, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES March 19, 2026 Mr. Fulcher (for himself and Mr. Harris of North Carolina) introduced the following bill; which was referred to the Committee on Agriculture
A BILL To amend the Commodity Exchange Act to reduce systemic risk while increasing geographical diversity and competition with respect to depositories for the storage of precious metals, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “System Integrity through Licensed Vault Expansion and Resilience Act” or the “SILVER Act”.
SEC. 2. FINDINGS.
Congress finds the following:
(1) Precious metals exchanges currently require physically traded metals to be stored within close proximity to New York City.
(2) Geographic concentration creates systemic risk vulnerabilities, reduces available liquidity, and increases the cost to market participants.
(3) Recent liquidity events in global metals markets underscore the need to minimize regulatory barriers that reduce the available supply of metals to the publicly traded marketplace.
(4) Notwithstanding the current limited supply, the security standards of existing vaults supporting publicly traded exchanges are outstanding and have enhanced the confidence of market participants.
(5) Market liquidity and participant confidence will be enhanced by the addition of storage vaults of relative scale and commercial importance in the marketplace.
(6) Additional supply in lower-cost markets, especially markets that are near hubs of precious metals activity and interstate transportation networks, would also reduce storage costs, enhance competition in the storage marketplace, and promote greater market access to investors.
(7) It is in the public interest for systemically important financial market utilities to provide a clear and transparent selection process for precious metals storage facilities within their network.
SEC. 3. PRECIOUS METALS DEPOSITORIES USED IN CONNECTION WITH FUTURES CONTRACTS.
Section 5b(c)(2) of the Commodity Exchange Act (7 U.S.C. 7a–1(c)(2)) is amended—
(1) in subparagraph (E)(vii), by inserting “, including risks related to the geographic concentration of depositories for the storage of gold, silver, platinum, and palladium (referred to in this paragraph as ‘precious metals’),” after “clause (vi)”;
(2) in subparagraph (F)—
(A) by redesignating clause (iii) as clause (iv); and
(B) by inserting after clause (ii) the following:
“(iii) APPROVAL OF PRECIOUS METALS DEPOSITORIES.—
“(I) IN GENERAL.—A derivatives clearing organization shall—
“(aa) develop, publish, and employ objective and transparent criteria in evaluating and selecting depositories for the storage of precious metals used in connection with a contract of sale of a commodity for future delivery; and
“(bb) provide a formal process for those depositories to apply for that selection.
“(II) SELECTION FACTORS.—In selecting depositories under subclause (I), a derivatives clearing organization shall—
“(aa) assess and account for, among other factors, geographic diversity, competition, risk management, storage costs to members and participants, and systemic risk implications; and
“(bb) approve new depositories in the context of a public interest in increased geographic diversity, increased liquidity, market resiliency, market access, competition, and cost efficiency, consistent with appropriate security and quality standards.
“(III) GEOGRAPHICAL REQUIREMENT.—
“(aa) IN GENERAL.—A derivatives clearing organization shall select at least 2 depositories described in subclause (I) in each time zone described in item (bb).
“(bb) TIME ZONE.—A time zone referred to in item (aa) is each of the following:
“(AA) Eastern time.
“(BB) Central time.
“(CC) Mountain time.
“(DD) Pacific time.”;
(3) in subparagraph (I)—
(A) in clause (ii)(II), by striking “and” at the end;
(B) in clause (iii), by striking the period at the end and inserting “; and”; and
(C) by adding at the end the following:
“(iv) periodically assess the ease of access for market participants with respect to the physical settlement of any commodity, regardless of the geographic location within the United States, to ensure system availability and resiliency.”;
(4) in subparagraph (L)(iii)—
(A) in subclause (IV), by striking “and” at the end;
(B) by redesignating subclause (V) as subclause (VI); and
(C) by inserting after subclause (IV) the following:
“(V) conditions for applying to, and receiving approval from, the derivatives clearing organization as a metal service provider, such as a depository for the storage of precious metals; and”; and
(5) in subparagraph (N)(i), by inserting “, including with respect to the approval of a metal service provider, such as a depository for the storage of precious metals” after “trade”.
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More:
“How do you “decentralize” the SILVER market and FORCE “competition” on the Wall Street banks, who are controlling the precious metals system?
Something just happened and I don’t believe the timing is a coincidence.
Have you heard of the SILVER Act?
Submitted by Joe Lange:
“At today’s U.S. House Agriculture Committee oversight hearing, Commodities Futures Trading Commission (CFTC) Chairman Michael Selig today applauded – and pledged to assist the efforts by – two members of Congress who recently introduced the “System Integrity through Licensed Vault Expansion and Resilience Act” (SILVER Act). The SILVER Act (H.R. 8007): – introduced by Rep. Russ Fulcher (R-ID) and Rep. Mark Harris (R-NC) – seeks to address longstanding geographic limitations on approved depositories for precious metals tied to regulated futures markets.”
(CFTC Chairman to Examine National Security Risks from Concentration of Precious Metals Depositories in NYC)
The Trump appointed Commodities Futures Trading Commission (CFTC) Chairman Michael Selig, has vowed to help pass the SILVER Act, which approves precious metals “depositories” across the country, in order to take away Wall Street’s centralized control of the “futures supply.”
Trump’s taken out the LBMA and Lloyd’s. Starmer must be pissed.
Yeah it’s like the New York diamond merchants. Try to set up a jewelry store of your own near them. Whoops
Bad law. They need to strike “DD. Pacific time”. Nothing of value should be placed in California, Washington state, or Oregon. I know Northern Idaho and Nevada are options, but keep it away from neo-Nazis and gamblers, as well.
Coincidentally insiders have begun buying silver options at an eye-popping $900-$1,000 per OUNCE for December 2026 (current price is in the $80/oz. range). Very odd. It’s as if these insiders are positioning themselves for some sort of total economic collapse. Who knows! It doesn’t help that insider trading and market manipulation are all the rage these days.
Trump’s taken out the LBMA and Lloyd’s. Starmer must be pissed.
The proof is in the Comex data, the big banks used to short years of supply, $$$ billions in paper contract shorts....today, they run very reduced shorts with equal longs- a wash. It is no secret they have lost control.
China and the East is now controlling pricing. Silver is now trading at more than $10 over the Crimex in China, and India announced they will no longer use the corrupted Crimex for pricing.
The worlds Wealth is moving from the West to the East.They have drained the US Comex, and our government is finally awakening to that fact....new refineries, new depositories,...Trump had better get busy auditing our Gold reserves.
Coincidentally insiders have begun buying silver options at an eye-popping $900-$1,000 per OUNCE for December 2026 (current price is in the $80/oz. range).
https://greyrabbitfinance.substack.com/p/the-dark-knight-of-silver-meet-the
“Bateman casually revealed that over the past six months, he has invested close to $1 billion in precious metals, including the purchase of 12.69 million ounces of silver—roughly 1.5% of the world’s annual supply....”
That was in 2025, he is now up more $$$ billions...in physical...J Six Pack and the thin air Bitcoin types are always the last to know....it is going to be another historic year!
The latest, Crimex now being drained by the same corrupted manipulators.
“1103 COMEX GOLD DELIVERIES ISSUED TUESDAY!
🏦COMEX GOLD DELIVERIES REPORT🏦
💥JP Morgan Issued 762 Notices
➡️Deutsche Bank’s HOUSE Account Issued 100
➡️Stonex’s House Account Issued 206
⚠️BOA’s HOUSE Account Stopped 1,015
➡️JP Morgan Stopped 42
⚠️The CME’s HOUSE Account Stopped 39
🔥TOTAL COMEX APRIL GOLD DELIVERIES RISE TO 21,450- 2,145,000 oz
They still play the paper game, but when they start taking delivery it’s game over.
The latest, Crimex now being drained by the same corrupted manipulators.
“1103 COMEX GOLD DELIVERIES ISSUED TUESDAY!
🏦COMEX GOLD DELIVERIES REPORT🏦
💥JP Morgan Issued 762 Notices
➡️Deutsche Bank’s HOUSE Account Issued 100
➡️Stonex’s House Account Issued 206
⚠️BOA’s HOUSE Account Stopped 1,015
➡️JP Morgan Stopped 42
⚠️The CME’s HOUSE Account Stopped 39
🔥TOTAL COMEX APRIL GOLD DELIVERIES RISE TO 21,450- 2,145,000 oz
They still play the paper game, but when they start taking delivery it’s game over.
Silver:
COMEX SILVER DELIVERIES REPORT🏦
➡️27 COMEX April Silver Deliveries Issued Tuesday
➡️JP Morgan Issued 25 Notices
➡️Wells Fargo’s House Account Stopped 6 Notices
💥The CME’s HOUSE Account Stopped 13
🚨TOTAL COMEX APRIL SILVER DELIVERIES RISE TO 3,279- 16,395,000 oz
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