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Old 11-17-2011, 07:38 AM   #1
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COMEX silver games

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JP Morgan has made a MASSIVE adjustment of PHYSICAL SILVER into its REGISTERED VAULTS, moving over 1 MILLION OUNCES from eligible into REGISTERED OVERNIGHT!

For those inquiring as to the significance of an inventory adjustment from eligible to registered vaults, please see The Doc's explanation of registered vs. eligible COMEX categories for a full understanding of the implications.
...
http://silverdoctors.blogspot.com/20...ed-silver.html

Why would JPM need to lease 1MM ounces of silver to make deliveries if the COMEX really had over 30MM ounces of silver already allocated for that purpose? If you have been following COMEX movements regularly (I read Harvey Organ's blog daily), you would know that it has been over a month since there was any movement into (or out of) the registered category. I've been asking around for help in understanding this from people smarter than me, but so far have not found any answers.
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Old 11-17-2011, 11:51 AM   #2
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...
Having said that, in studying the Comex open interest and inventories for nearly 10 years, I can say that the outright size of this inventory move by JP Morgan is unusually large and would suggest that JP Morgan is anticipating the probabilty of having to deliver a lot of silver for the December delivery month, of which JP Morgan is likely short at least 17k of the current 34k open interest, or 85 million ounces. Please note that there are still 9 trading days until the "first notice" day, November 30th, for December silver and I expect that the open interest will decline substantially between now and then. However - remember I like to look at the truth behind "however" - in order for the December open interest to get down to a level which represents just the total amount of registered silver - roughly 33 million ounces - the December open interest will have to bleed down to 6600 contracts. This is a big liquidation in just 9 days. I would suggest that JP Morgan's inventory behavior implies that delivery supply could get very tight this month.
...
More: http://truthingold.blogspot.com/2011...ex-silver.html
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Old 11-17-2011, 11:52 AM   #3
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With silver down 7.5% and no news...
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Old 11-17-2011, 12:05 PM   #4
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My guess is they are in serious trouble and trying to shake leaves from the tree.
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Old 11-17-2011, 12:26 PM   #5
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Originally Posted by PMBug View Post:
My guess is they are in serious trouble and trying to shake leaves from the tree.
Well.. It's opx so naturally we have some BS but this is a complete route. I'd really like to know the rational behind this move.
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Old 11-17-2011, 03:01 PM   #6
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I absolute LOATHE the terms "Eligible" and "Registered", as their meanings are counter-intuitive. I believe that is a deliberate obfuscation.

Eligible sounds like "eligible for purchase" when it means the exact opposite. It only means that the silver met "eligibility standards". However, silver cannot go on EITHER list without meeting eligibility standards, so the term is redundant.

Registered sounds to the casual observer like "spoken for", when really it means silver that the silver is "eligible" for purchase (long delivery).

How about Available and Unavailable, or something along those lines?

Over the past few years more silver has been taken out of circulation (Registered to Eligible), which gives the perception that there is less available physical, which in turn puts upward pressure on its value - given its new scarcity. The massive overnight move from Eligible (out of circulation) to Registered (in circulation) is tantamount to putting silver into circulation. Most silver investors don't track warehouse movements, so moving silver from Eligible in a sudden move to Registered is just one more way, I believe, of artificially suppressing prices.

I could be wrong, but it's the only plausible explanation I can see that fits with reality.
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Old 11-26-2011, 09:54 AM   #7
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More COMEX vault games?
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Blythe just tried to sneak a massive 613,738 ounce silver adjustment past the market this afternoon on one of the thinnest trading days of the year, but The Doc's all over it like white on rice- and WAIT TILL YOU SEE WHERE THE RABBIT TRAIL THE DOC JUST RAN DOWN LEADS!

The Morgue adjusted 613,738 ounces of silver from eligible vaults into REGISTERED vaults on Wednesday!

Not to be beaten, Scotia topped its 1.2 M oz deposit reported Wednesday, by receiving a massive deposit of 2,395,835 ounces!

Rather coincidental seeing Brink's had a nearly identical withdrawal Tuesday of 2,346,587 ounces!
...
More: http://silverdoctors.blogspot.com/20...rt-614000.html

Read the source material for a breakdown of vault movements leading to a conclusion that the ~613K movement is likely metal stolen from MF Global client accounts.
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Old 11-26-2011, 02:28 PM   #8
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Let them continue to play games and suppress the price.. I laugh every time I make a purchase! True price discovery is in the not to distant future!
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Old 12-07-2011, 06:54 AM   #9
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One possible explanation for the OP story: http://www.pmbug.com/forum/f13/mf-gl...-207/#post1835
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Old 12-23-2011, 10:22 AM   #10
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Quote :
...
*HSBC adjusted 1,182,386 ounces into eligible vaults. This was an adjustment- meaning not a new deposit. There was no corresponding adjustment out of registered vaults, simply 1.2 million ounces of silver suddenly appeared in HSBC vaults out of thin air!
...
http://silverdoctors.blogspot.com/20...ounces-of.html

Hocus Pocus - Abracadabra

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Old 12-26-2011, 11:25 AM   #11
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When looking at recent charts, it is beginning to look like a default at either the LME or Comex is becoming more of a reality. As sovereigns show stronger desire to back up their reserves with real money, and demand delivery of their gold, more and more pressure is exerted on the paper pushers to deliver the real thing. Nations liekk the U.S. and England, who actively lease their/our reserves are running out of ammunition.
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Old 01-05-2012, 06:12 AM   #12
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Quote :
...
HSBC received a deposit of 582,852 ounces into eligible vaults, exactly the same as a 582,852 ounce deposit reported Monday. (No, The Doc did not download Tuesday's report again in error, the 582,852 ounce deposit into HSBC vaults is the only identical movement from Tuesday's report)
...
http://silverdoctors.blogspot.com/20...852-ounce.html

Hard to believe that report reflects reality.
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Old 01-13-2012, 06:48 AM   #13
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Quote :
Brink's Receives Identical 596,741 Ounce Deposits into Eligible & Registered Vaults Wednesday
...
http://silverdoctors.blogspot.com/20...741-ounce.html

These vault reports do not inspire much confidence that they are grounded in reality. Very strange numbers being reported in the last month or so.
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Old 01-13-2012, 10:31 AM   #14
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mh, has anybody informed the CFTC?
.
.
.
.
.
.
.
Just kidding
This scam is gonna implode big time
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Old 01-20-2012, 06:51 AM   #15
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More hocus pocus, abracadabra:
Quote :
Brink's Magically Adjusts 140,248 Ounces of Silver into Vaults Wednesday

Brink's reported identical adjustments of 70,124 ounces into both registered and eligible vaults Wednesday, with no corresponding accounting for where this silver came from- it just magically appeared!
...
http://silverdoctors.blogspot.com/20...48-ounces.html
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Old 01-20-2012, 08:21 AM   #16
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Originally Posted by PMBug View Post:
More hocus pocus, abracadabra:

http://silverdoctors.blogspot.com/20...48-ounces.html
The guy who is doing the magic math must be really lazy. He is not even caring about some kind of encryption of this scam. He could easily make this a little more credible by using numbers that aren't that obviously manipulated.
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Old 01-20-2012, 08:23 AM   #17
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Another observation: The fact that this fake accounting seems to take place at every vault, regardless of the owner (HSBC, Brinks to name just two) tells me that the CME is involved in the scam, too. It's not just the single bullion banks.
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Old 01-20-2012, 10:03 AM   #18
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SA,
I, just as you do, believe all this to be one big fractional reserve scam. Unlike the fiat scam, silver cannot be printed, however promises to deliver can, as well as vault receipts with serial numbers. The problem with this is that those serial numbers have been promised to more than one person or entity. When the price starts to get crazy again, and it will as a result of the faltering/failing EU, that is when the glue comes loose and the wheels fall off. I do not expect it to be a one-off rapid fire event, rather I expect the PTB to try and buy their way out with massive fiat premiums. This could work for a long time if faith in fiat remains relatively high. However, if the EU breaks apart, and i view that as an extremely likely event, then all bets are off. Folks will want to hold their wealth. Just look at Greece. Tax revenues are down. Banks are recording record outflows of cash. Banks across Europe are limiting how much cash people can withdraw in a single day to try and stop the bleeding. It is too late for Greece and the little mentioned Italy, and Spain, Portugal and Ireland are not far behind. There is a groundswell movement all over Europe to take back sovereignty from the EU and their draconian requirements that put tens of millions of people under the regulatory thumb of an unelected elite.

It will not end well, and it will not be televised, but the columns of smoke will be visible all over Europe when it comes down.
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Old 01-20-2012, 03:32 PM   #19
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Originally Posted by ancona View Post:
SA,
I, just as you do, believe all this to be one big fractional reserve scam. Unlike the fiat scam, silver cannot be printed, however promises to deliver can, as well as vault receipts with serial numbers. The problem with this is that those serial numbers have been promised to more than one person or entity. When the price starts to get crazy again, and it will as a result of the faltering/failing EU, that is when the glue comes loose and the wheels fall off. I do not expect it to be a one-off rapid fire event, rather I expect the PTB to try and buy their way out with massive fiat premiums. This could work for a long time if faith in fiat remains relatively high. However, if the EU breaks apart, and i view that as an extremely likely event, then all bets are off. Folks will want to hold their wealth. Just look at Greece. Tax revenues are down. Banks are recording record outflows of cash. Banks across Europe are limiting how much cash people can withdraw in a single day to try and stop the bleeding. It is too late for Greece and the little mentioned Italy, and Spain, Portugal and Ireland are not far behind. There is a groundswell movement all over Europe to take back sovereignty from the EU and their draconian requirements that put tens of millions of people under the regulatory thumb of an unelected elite.

It will not end well, and it will not be televised, but the columns of smoke will be visible all over Europe when it comes down.
As you said. One can't bailout the CRIMEX. That's the beauty of hard money.
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Old 03-09-2012, 06:43 AM   #20
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Quote :
Yesterday the big news was that someone had withdrawn 3 million ounces of silver out of the Brink's vault Tuesday. Well today's COMEX Warehouse update divulges the destination of the massive phyzz withdrawal Tuesday, as Scotia Mocatta reported an IDENTICAL 3 million ounce silver deposit Wednesday!

That's right...the 3 million ounces of silver were never actually withdrawn from the Brink's vault Tuesday, an intern was just busy scrawling Scotia's name on 3,000 new post it notes.
...
Must have been a long night for the intern tasked with moving the phyzz in and out of the vault...moving the pallet across the room.....writing Scotia's name on 3,000 new post-it sticky notes.
...
http://silverdoctors.blogspot.com/20...withdrawn.html
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