TF stated..."Even though there are still 26M+ open contracts...

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#1 Tue, Jun 28, 2011 - 2:27pm
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Black Hole Sun
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TF stated..."Even though there are still 26M+ open contracts...

TF stated.....

"......Even though there are still 26M+ open contracts three days before July first notice and, even though The Death Star only has enough registered silver to settle 5,600 of those contracts, no one seems to care."

DPH states: "Holy Shit!"

(Something has to give way at the Comex sooner then later I would imagine. The EE's plan seems to have gone awry)

What could their back-up plan possibly be to not having enough physical silver to deliver to cover contracts? Sounds like were going to find out pretty soon.

Edited by: ¤ on Nov 8, 2014 - 5:09am
Tue, Jun 28, 2011 - 2:47pm
PaPaSpeed
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Ever since he posted that, I

Ever since he posted that, I have been thinking about it. I don't have any idea how that situation get resolved, but I will be watching. I'm sure someone here has some experience with these kind of situations. Perhaps they'll provide some insight.

I've been reading Harvey Organ's with interest. Maybe some of the answers lie there.

https://harveyorgan.blogspot.com/

Tue, Jun 28, 2011 - 3:27pm (Reply to #2)
Jake
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PaPaSpeed wrote: Ever since

PaPaSpeed wrote:

Ever since he posted that, I have been thinking about it. I don't have any idea how that situation get resolved, but I will be watching. I'm sure someone here has some experience with these kind of situations. Perhaps they'll provide some insight.

I've been reading Harvey Organ's with interest. Maybe some of the answers lie there.

https://harveyorgan.blogspot.com/

It's my guess or understanding that they can't prevent anyone wanting their eligible silver from being removed. If this is true, I can't imagine silver being supplied from this source to the registered category. If this is true, supplies must come from SLV or the London Metal Exchange. So it boils down to how much of the SLV 309 Million oz. are actually available to the COMEX.

Wait a minute! This Could have been Avoided Had We Listened to The Zombies!

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Your Silver--I Want to Buy it! Sell Me Your Silver!
Tue, Jun 28, 2011 - 5:07pm
PaPaSpeed
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Maybe I'm just better off not

Maybe I'm just better off not knowing where the silver is.

The Zombies - I Don't Want To Know
Tue, Jun 28, 2011 - 5:15pm
silverbleve
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Greek Silver

Maybe they will get Silver from greece. There is another thread about Greece being forced to sell their silver reserves. Hit tips for the zombies videos! Love that 12 string electric sound.

Tue, Jun 28, 2011 - 9:59pm
Warren Peace
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Repost from another thread

I posted this earlier in another thread, but it seems relevant to this discussion. The open interest will likely shrink further by thursday. I think we will end up with 8000 to 10000 still standing for delivery. That is still 40 to 50 M oz. We know that only a small percentage of those contracts will remove the physical silver from the comex warehouse system. They will use short shares of SLV to satisfy 'in system' contracts. This is obviously illegal according to commodity contract law, but they will continue until the market stops them. Who else is going to do anything? The CFTC ?? That's hysterical...

Registered silver as of 6-28-2011 28 M oz.

Total Silver as of 6-28-2011 99 M oz.

Total July open interest as of 2-27-2011 19,600 ( 98 M oz.)

Remaining days until first notice 2

Remaining days for July delivery 31

Unbacked SLV shares sold short 37 M shares (oz)

It seems apparent that the comex has been liberally using shares of SLV to satisfy delivery of comex contracts. The problem is that there isn't enough physical to go around, so they just create, and short new shares of SLV without real silver backing. Isn't this against the SLV prospectus.... um, yes, but who cares? Not owners of SLV apparently. And the comex receipt holders are none the wiser because they almost never take physical possession of the silver they supposedly own. This is turning into one BIG mf'n train wreck coming soon to a market near you. If you own these things, you are f'in crazy.

https://harveyorgan.blogspot.com

Good luck, and Godspeed

Wed, Jun 29, 2011 - 2:14pm (Reply to #5)
Jake
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silverbleve wrote: Maybe they

silverbleve wrote:

Maybe they will get Silver from greece. There is another thread about Greece being forced to sell their silver reserves. Hit tips for the zombies videos! Love that 12 string electric sound.

Yes, I read this article too---Silver Doctors Had a Post About This:

https://silverdoctors.blogspot.com/2011/06/g-pap-begs-greek-lawmakers-to...

Your Silver--I Want to Buy it! Sell Me Your Silver!