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Massive Silver Withdrawals From The Comex
The Market Oracle ^ | 1-9-2011 | Jesse's Café Américain

Posted on 01/09/2011 3:22:40 PM PST by blam

Massive Silver Withdrawals From The Comex

Commodities / Gold and Silver 2011
Jan 09, 2011 - 10:49 AM
By: Jesse

It will be interesting to see how the CFTC, the Obama Administration and the Comex deal with this situation with silver, including massive paper short positions.

Harvery Organ's commentary:

"And now for the big silver report.

We witnessed a massive withdrawal of silver unprecedented in the history of the comex. First there was a smallish 6507 oz of silver deposited to two customers, one being 497 oz and the other 6010 oz). But just look at the huge withdrawals:

Four customers (not dealers) withdrew a total of 1,019,310 oz from the comex vaults. This is real silver leaving from 4 registered vaults. The individual withdrawals are: 579,081, 30,380, 399,994 and 9855 oz.

The dealer (our bankers) also were involved in the withdrawal of silver to the tune of 769,941 oz (there were 2 dealers involved removing 102,866 and 667,875 ozs). When you see this massive drain of silver, the fire is raging. The total silver withdrawal by both dealer and customer totalled an astronomical 1,789,251. The Brink's trucks must have been very busy yesterday.

The comex folk notified us that an amazing 85 notices were sent down for servicing for a total of 425,000 oz of silver. The total number of silver notices sent down so far total 323 or 1,615,000 oz. To obtain what is left to be served, I take the open interest for January at 153 and subtract 85 deliveries leaving a total of 68 notices or 340,000 oz left to be serviced.

Thus the total number of silver ounces standing in this non delivery month of January is as follows:

1,615,000 oz + 340,000 = 1,955,000 oz (Thursday total = 1,625,000). As promised to you, this number is rising and will continue to rise until the end of the month as our banker cartel scrambles to get any morsel of silver to satisfy the massive demand for this metal. Our bankers are stunned to see such a huge amount of silver options in a traditionally slow month.

I hope everyone caught the Eric Sprott story on Kingworld news that he is having trouble locating silver."


TOPICS: News/Current Events
KEYWORDS: commodities; gold; silver
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1 posted on 01/09/2011 3:22:44 PM PST by blam
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To: blam

They sold more than is on planet no doubt.


2 posted on 01/09/2011 3:24:44 PM PST by screaminsunshine (Surfers Rule)
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To: blam

What does this mean? Guess I am really asking what are the implications?


3 posted on 01/09/2011 3:27:22 PM PST by NELSON111
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To: blam

Eric Sprott having trouble locating silver? This a big deal. The JP Morgue aka The Rockefellers.


4 posted on 01/09/2011 3:27:57 PM PST by Frantzie (Slaves do not have freedom only the illusion of freedom & their cable TV to drool at)
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To: NELSON111

My guess is that someone is trying to corner the silver market by creating an artificial shortage of the physical product against which the futures contracts are written. See Hunt, Nelson and Hunt, Bunker.


5 posted on 01/09/2011 3:29:26 PM PST by 2 Kool 2 Be 4-Gotten
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To: screaminsunshine

If so, it’s gonna get real interesting.


6 posted on 01/09/2011 3:31:21 PM PST by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: NELSON111
"What does this mean? Guess I am really asking what are the implications?"

I have no idea. That's exactly why I posted the article. Maybe someone will come along and tell us both.

7 posted on 01/09/2011 3:31:57 PM PST by blam
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To: mamelukesabre

What happens if people want the metal and they do not have it?


8 posted on 01/09/2011 3:32:37 PM PST by screaminsunshine (Surfers Rule)
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To: 2 Kool 2 Be 4-Gotten

The Dukes!


9 posted on 01/09/2011 3:33:38 PM PST by screaminsunshine (Surfers Rule)
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To: blam

10 posted on 01/09/2011 3:35:03 PM PST by blam
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To: screaminsunshine

My bad - the two brothers weren’t named Nelson and Bunker. One was named “Nelson Bunker” and the other was “William Herbert”.

http://en.wikipedia.org/wiki/Nelson_Bunker_Hunt


11 posted on 01/09/2011 3:37:04 PM PST by 2 Kool 2 Be 4-Gotten
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To: screaminsunshine

What is happening to real estate today?

LLS


12 posted on 01/09/2011 3:37:36 PM PST by LibLieSlayer (WOLVERINES!)
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To: screaminsunshine

naturally the price goes up.

But that’s not the issue you implied. You implied people legally own silver that doesn’t exist and they don’t possess. They will be refunded in cash if that happens and if the cash is available. all sorts of unknown consequences could ensue. Lawsuits, currency catastrophes, insanity in the markets, and possible domino effects in the economy. People could go silver crazy and the price could get nuts. Governments would be pressured to intervene.


13 posted on 01/09/2011 3:41:16 PM PST by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: blam

Bookmark


14 posted on 01/09/2011 3:42:03 PM PST by misanthrope (Liberals just plain suck!!)
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To: blam

Someone needs to post the little bear animated video about The JP Morgue. The JP Morgue (Chase) aka Rockefellers are acting for the Fed to short silver to pro up the dollar goes the theory. This has been going on for a while. Supposedly The Fed gives JP Morgan more money to short silver because they must have mega losses. HSBC is supposedly also short silver. This is not tin foil hat BS because a fed lawsuit was recently filed over this.

The weird thing recently is The JP Morgue has gone long copper in a big way. My guess is that is used to offset the silver short.

Eric Sprott owns a legitimate Canadian company that has gold and silver ETFs (exchange traded funds) backed by real bullion in a trust bank in Canada.

Oddly, the custodian for the better known US silver ETF - ticker SLV is - The JP Morgue. Experts have been speculating that the SLV ETF and the two US Gold ETFs (GLD and IAU) may not really have the bullion they are claiming.

The investors and speculators do not trust the US ETFs and trust Canada more included closed-end fund ticker CEF in Canada which holds gold and silver bullion.

People are speculating that the elites are going to lock up most of the physical silver and gold before they crash the dollar. This is because the US debt is reaching a level that the Fed ponzi scheme cannot go on much longer.


15 posted on 01/09/2011 3:46:31 PM PST by Frantzie (Slaves do not have freedom only the illusion of freedom & their cable TV to drool at)
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To: blam

The Case For Investing In Silver

http://www.silverbearcafe.com/private/04.09/roota.html

http://www.silverinscripture.com/archives.php#silver

http://goldismoney.info/forums/


16 posted on 01/09/2011 3:47:36 PM PST by Silver Sabre
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To: jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Goldbug Ping.


17 posted on 01/09/2011 3:49:18 PM PST by Jet Jaguar
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To: blam

Another Soros Ploy to Destroy America using his Idiot Puppet Figurehead TOTUS to cover his BASS! Seriously, BECK Must Put His TV Expose of SOROS on DVD for All of Us to Purchase, Study and Distribute to Other Patriots!


18 posted on 01/09/2011 3:50:11 PM PST by True Republican Patriot (May GOD Continue to BLESS Our Greatest President :George W. Bush!!)
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To: Frantzie
"Eric Sprott having trouble locating silver? This a big deal. The JP Morgue aka The Rockefellers."

Why Eric Sprott Sees Silver As The Next Big Investing Winfall (PDF)

19 posted on 01/09/2011 3:51:08 PM PST by blam
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To: mamelukesabre

Silver could be the new Tulips. I had about 300 face and sold at 20. But at least I bought a sailboat and survival gear with the dough. I thought 20 was high.


20 posted on 01/09/2011 3:58:09 PM PST by screaminsunshine (Surfers Rule)
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