UPDATE: SLV Short Positions From Harvey's Site

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#1 Tue, Jun 28, 2011 - 7:15pm
Jake
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UPDATE: SLV Short Positions From Harvey's Site

Silver Supplies Look to be Worse Than Previously Thought--->

FROM HARVEY ORGAN'S SITE:

https://harveyorgan.blogspot.com/2011/06/slv-short-37-million-oz-of-silv...

"Ted Butler has informed us of a big additional rise in the SLV short position of 4.2 million oz to an unheard of 37 million shares( oz). The short shares were offered without any silver behind them. I have written to the SEC and the CFTC on many occasions on this matter and I have shared my letters with you. This is very alarming if the SLV are settling at the comex instead of real metal as this is my big fear. I will once again write both of these regulating bodies on this development and hope that they respond to this massive fraud. Here is the passage from Ted Butler:" (courtesy Ted Butler and Ed Steer)

"Here are three paragraphs about the massive short position that exists in the SLV ETF that I snipped out of silver analyst Ted Butler's weekend commentary to his paying subscribers on Saturday...
"The latest short figure for shares in SLV was just released. As of June 15, the short position for SLV rose by 4.2 million shares (ounces), to a new record of more than 37 million shares. The SLV short position now constitutes more than 11.6% of all shares outstanding. This is truly an obscenely large short position for any stock; so large that it is inherently fraudulent and manipulative to the price of SLV from a size point alone. In turn, the price of silver itself is also manipulated given that SLV is the largest inventory of silver in the world.

It also means that there are more than 37 million shares of SLV in existence that have no silver backing, as required by the prospectus. There is no question in my mind that BlackRock, the Trust’s sponsor is negligent for this continuing fraud and manipulation in SLV and will, hopefully, be brought to justice."


"So large is the short position in SLV, that it seems impossible that the largest COMEX short, JPMorgan, is not somehow involved in it (and every other manipulative dirty trick in silver). To my knowledge, there is no disclosure as to the identity of short sellers in stocks. As I previously indicated, it seems patently unfair that large long holders in stocks must publicly identify themselves over certain thresholds, but no such rule applies to shorts. My suspicion is that JPMorgan is involved in the SLV short in conjunction with its big COMEX short position. On the one hand, the concentrated COMEX short position has come down significantly; but on the other hand, the short position in SLV has grown to levels never seen.

Is there a connection here? I think so. I did privately ask (at the highest levels) that the CFTC inquire into this with the SEC, but asking and getting are sometimes two different things. But given the unusual price action in silver, both at the beginning of May and late last week it would seem reasonable for the regulators to see if there is a connection between the COMEX and SLV short positions. These are very unusual circumstances."


"It is precisely these unusual silver short positions on the COMEX and in shares of SLV that contribute to silver being very special. These short positions exist for a very basic reason; there is not enough real silver available for sale at current prices. That makes it necessary for shares of SLV to be sold short, as not enough silver is available to issue new shares legitimately and in accordance with the prospectus. That makes it necessary for additional COMEX contracts to be sold by existing short holders even though they can’t economically justify their existing large short positions."

NOBODY TOLD ME THERE'D BE DAYS LIKE THESE!

STRANGE DAYS INDEED!

John Lennon - Nobody Told Me [Remastered] [HQ]
Edited by: Jake on Nov 8, 2014 - 5:09am
Wed, Jun 29, 2011 - 2:48am
pistol
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Is the implication here that

Is the implication here that the JP Morgue is settling COMEX contracts with SLV shares they don't own?

Wed, Jun 29, 2011 - 7:14am
Kid Salami
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silver shorting jamboree explanation

"That makes it necessary for shares of SLV to be sold short, as not enough silver is available to issue new shares legitimately and in accordance with the prospectus. That makes it necessary for additional COMEX contracts to be sold by existing short holders even though they can’t economically justify their existing large short positions."

Is there anyone who could explain this part to me in more detail please?

Wed, Jun 29, 2011 - 10:09am
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Any Investigation? When PIIGS Fly!

Seriously? How blatant and enormous does the short position and the market manipulation have to get before it catches someone's attention in a position to do anything about it?

Why isn't Ron Paul or anyone else with serious credential's DEMANDING that the U.S. Attorney General or someone look into it?

If Ted Butler, Harvey Organ and others are to be believed (and I do believe them) in their investigations and digging into the silver shortage and reporting on it etc. then how hasn't such a huge criminal banking conspiracy been publicly talked about on the MSM and investigated and acted on by any law enforcement agency in the U.S.?

It defy's logic if it's that massive in it's scope and the effect on global financial markets it has on a daily basis. If this silver market has been worked over for 20 years or longer then the money siphoned off or lost by investors due to the manipulation must be in the $100's of Billions or more at this point over that many years/decades. Am I way off base in a crude approximation of the possible losses?

An epic lack of foresight, accuracy and rationale... https://www.tfmetalsreport.com/comment/170246#comment-170246

Wed, Jun 29, 2011 - 11:10am (Reply to #4)
Jake
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DarkPurpleHaze wrote: If this

DarkPurpleHaze wrote:

If this silver market has been worked over for 20 years or longer then the money siphoned off or lost by investors due to the manipulation must be in the $100's of Billions or more at this point over that many years/decades. Am I way off base in a crude approximation of the possible losses?

I can't say I've read any credible refererence citing how much JPM has made through manipulation of the silver market, but I believe there was a reference somewhere stating they would be losing as much as 61 billion at a price of $36 silver. I think it come out during that Wynter_Benton controversy.

Your Silver--I Want to Buy it! Sell Me Your Silver!
Wed, Jun 29, 2011 - 11:19am
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practical

Not much sense in demanding justice. JPM and other biggies own Washington. Isn't this apparent by now? Speculating on when the Comex goes bust is one of the most popular topics on the metal sites but does it make anyone any money? Of course not. The Comex was supposed to have gone bust for the last god knows how many months. You can die trying to guess when and it is of no practical value. Nor do the stats mean anything. Perception is reality. Same in the Empire's politics. We are waiting for the black swan event that finally crashes the Comex but spending energy and time on when this will happen is a fool's game imo.

Wed, Jun 29, 2011 - 11:21am (Reply to #2)
Jake
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pistol wrote: Is the

pistol wrote:

Is the implication here that the JP Morgue is settling COMEX contracts with SLV shares they don't own?

I don't know if there has been any credible reference ADMITTING to settling Comex contracts with SLV Shares, but this might explain why the SLV silver inventory (if it's all really silver) has dropped by so much at such a fast rate recently. (Since 4-26-2011, The SLV Inventory has dropped by 53,102,116 oz.).

The theory would be that these new SLV share holders would then force physical delivery from the SLV for 50,000 shares blocks or more.

Your Silver--I Want to Buy it! Sell Me Your Silver!
Wed, Jun 29, 2011 - 11:34am (Reply to #6)
Jake
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SilverWealth wrote: Not much

SilverWealth wrote:

Not much sense in demanding justice. JPM and other biggies own Washington. Isn't this apparent by now? Speculating on when the Comex goes bust is one of the most popular topics on the metal sites but does it make anyone any money? Of course not. The Comex was supposed to have gone bust for the last god knows how many months. You can die trying to guess when and it is of no practical value. Nor do the stats mean anything. Perception is reality. Same in the Empire's politics. We are waiting for the black swan event that finally crashes the Comex but spending energy and time on when this will happen is a fool's game imo.

Yeah...I agree with you! From my perspective it's like this. I'm not a metal trader as I feel it's impossible to make money consistently trading. As a result, I buy the physical stuff. It's fun to receive boxes of silver in the mail, etc, but after a few days the enthusiasm wears off and I need a new fix like some exotic-looking coin or different type of silver round.

After years of doing this, now that I've seen most of them, I need other interests. So, speculation on the date of the comex bust seems the right stimulus. And there you have it! I also like Blues Brothers Vids:

Rawhide Blues Brothers
Your Silver--I Want to Buy it! Sell Me Your Silver!
Wed, Jun 29, 2011 - 11:46am
Sterling
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Jake

What do you want for nothing?

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Can I offer you a drink? How about this expensive prostitute?
Wed, Jun 29, 2011 - 6:51pm
Jake
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SLV Losing Even More Today!

As of 6-29-2011, SLV has lost another 633,632 oz.

https://us.ishares.com/product_info/fund/overview/SLV.htm

Apparently, There is a Band About The SLV!

It's Called The SLV Community Steel Pan Band. Here, They're Playing a Song Called Yellowbird---Must Be The "Canary in the Silver Vault"---LOL!

Yellowbird - SLV Community Steel Pan Band
Your Silver--I Want to Buy it! Sell Me Your Silver!
Thu, Jun 30, 2011 - 6:32pm
Jake
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Lost Another 1.41 Million Oz. Today

SLV Lost Another 1,413,466 oz. today, 6-30-2011. Of Course We Know it's Just Paper!

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