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COMEX: 5% of Silver HAS BEEN REMOVED!!
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CNBC.com
User ID: 809398
 Thailand
11/3/2009 11:47 AM
Report abusive post | COMEX: 5% of Silver HAS BEEN REMOVED!!
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And so it begins...the Comex default is approaching closer and closer as huge amount of reserves looks to be removed recently!
At first I was skeptical but if you follow the link to kitco, and check out the charts, that is indeed the case.
SILVER TO THE MOON! 
Oh yeah, the link...(dont want to stink)
https://www.kitcomm.com/showthread.php?t=52458 |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 11:49 AM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:03 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
 |
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Anonymous Coward
User ID: 809495
 United States
11/3/2009 12:07 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
what does that mean... I am not really good with this market stuff. explain please |
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Anonymous Coward
User ID: 457415
United States
11/3/2009 12:07 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
very cool |
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GlassPearls 
GlassPearls
User ID: 613866
United States
11/3/2009 12:09 PM
 | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
what does that mean... I am not really good with this market stuff. explain please Quoting: Anonymous Coward 809495
It indicates that people want delivery of physical metal, not dollars or false substitutes (ETFs). If COMEX can't deliver it to a buyer on contract, they will have defaulted. IF that happens, look out. |
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Anonymous Coward
User ID: 743646
United States
11/3/2009 12:12 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
what does that mean... I am not really good with this market stuff. explain please Quoting: Anonymous Coward 809495
People buy gold/silver. Rather than physically get it, Comex gives you a piece of paper saying: You own this. You can pick it up anytime.
Folks have been trying to physically get theirs. Comex gives them the run-around because they don't have all the silver they have promised.
They sold more than they have. The lie got one step closer to being uncovered. |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:13 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
what does that mean... I am not really good with this market stuff. explain please Quoting: Anonymous Coward 809495
check out the kitco link
or here is the actual site
[link to www.cmegroup.com]
click on where it says 'warehouse and depository stocks' for silver
check out the exchange.
basically, that was a huge huge pull for silver to be delivered in just one shot.
this usually leads to a dominoe effect of more silver having to 'delivered' for physical, and the more actual silver is being called for delivery, the bigger the panic for people who want their silver delivered asap.
when the panic hits, and comex is defaulted as investors find out that comex doesnt have their silver, this panic will send silver prices to the moon so to speak |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:14 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
there was a 'comex default' countdown about a year ago. nothing happenned but it was getting close to crunch time.
this is bigger than that and what will be interesting to see is what will happen very soon. |
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Anonymous Coward
User ID: 809495
United States
11/3/2009 12:15 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
WOW good catch OP!
Silver may go up alot then real soon. |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:18 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
WOW good catch OP!
Silver may go up alot then real soon. Quoting: Anonymous Coward 809495
thanks, actually all credit goes to op at kitco. i just like to channel surf on the net alot.  |
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Anonymous Coward
User ID: 742149
United States
11/3/2009 12:18 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
More WebBot hits (Building Tension) |
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BOWMAN
Something Wonderful
User ID: 747536
United States
11/3/2009 12:22 PM
 | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
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[link to video.google.com]
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Who's In Control?
[link to www.youtube.com] |
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Eagle # 1
User ID: 802743
United States
11/3/2009 12:26 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Silver UP about $.50 SO FAR; gold UP $25, so far !
BUT, silver is in shorter supply than gold AND, is actually MORE in demand than gold for coins, jewlery AND electronics wiring, where the amout used is too small for recovery ( Thus ends up GONE to the scrap heap ! ).
ALSO, silver is 50 to 1 against gold , when it should be at least 20 to 1 !
Eagle |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:27 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Here is from Jim Sinclair on Oct. 27..notice the Nov 7 date...
BYE BYE DOLLAR!
-------------
October 30th the Fed is planning to curtail QE regarding Treasury auctions.
November 4th is the FOMC meeting most likely to contain discussions of timing for the exit from economic stimulation.
November 7th is the G20 meeting at which BRIC nations will anticipate a cessation of QE and a commitment to establish a currency alternative to the US dollar. |
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Anonymous Coward
User ID: 805089
United States
11/3/2009 12:33 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:35 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Comex default, november 7 date..lots of good doom (and happiness if you happen to own metals) coming soon to a town near you |
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SHR 
Forum Administrator
11/3/2009 12:36 PM
 | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Hmmmm....interesting event...and good snag OP....here's the jpeg of the spread sheet....does appear to be true.....that's a massive draw off of physical Silver....and to who knows where or whom....it's a pretty big move...could signal that something is up...
Raised eyebrow pin......
[link to img141.imageshack.us]
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Or the fistagons, the bullets and bombs
Who stuff the banks, who staff the party ranks
More for Gore or the son of a drug lord.
None of the above....fuck it, cut the cord.
Lights out! Guerrilla Radio
Turn that shit up.
It has to start somewhere, It has to start sometime.
What better place than here, what better time than now?
All hell can't stop us now! |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:38 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Hmmmm....interesting event...and good snag OP....here's the jpeg of the spread sheet....does appear to be true.....that's a massive draw off of physical Silver....and to who knows where or whom....it's a pretty big move...could signal that something is up...
Raised eyebrow pin......
[ link to img141.imageshack.us]
why thank you sir
(and thanks for the pin )
 |
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Anonymous Coward
User ID: 792052
United States
11/3/2009 12:48 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
In a somewhat related topic, I was told all of my pre-1965 coins are worth more now than their face value because of the silver content. Any truth to that? |
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the hermit
User ID: 796008
United States
11/3/2009 12:49 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Posted leading another thread, appears relevant here:
Link: [link to financialsense.com]
Over the past few weeks, anecdotal accounts of shortages of physical gold bullion have been surfacing around the world. Empirical observations supporting this development include [below excerpted from Eric DeCarbonnel – Market Skeptics];
Mints are seeing a sharp rise in sales this year due to interest so strong that dealers are reporting a shortage of products such as Krugerrands and one-ounce bullion coins.
China is now pushing their citizens to buy gold.
Anecdotal accounts from “boots-on-the-ground” gold and silver brokers are reporting heavy ‘net with drawl of physical metal’ at COMEX depositories, raising doubts as to whether there is gold in inventory to match existing warehouse receipts.
London gold vaults are being emptied. Hong Kong is pulling all its physical gold holdings from depositories in the UK and moving their $63 million worth of gold home to newly built vaults near the city's airport. Dubai is also planning to withdraw its gold from London. Meanwhile, private investors and Swiss ETFs continue to move gold out of London.
Many large money managers who were formerly in paper gold are now demanding physical gold bullion instead.
Anecdotal accounts I have already reported on, during the week of Oct. 5, some large allocated physical transactions that were settled in London under VERY strange circumstances. Banks like JPMorgan and Deutsche Bank (who sold endless amounts of gold futures at prices of 950 to 1025) and then tried to make “side deals” with the folks they sold the futures to – offering them spot + 25% (around 1,275 per ounce) to settle in fiat – after their counter parties demanded [allocated settlement] substantial tonnage of physical gold bullion.
Additionally, wide-spread reports specifically relating to COMEX include:
Delays and complications in the delivery process have become increasingly commonplace. It is taking weeks and possibly even months, and sometimes dozen of inquiries, for investors to get the gold they already own out of the warehouse.
More restrictions are being applied to overseas buyers requesting delivery.
Some brokerages will not help with the delivery process or refuse to help even after the commissions are paid.
Investors withdrawing their 100oz. bars from the Comex depositories are being given bars with incorrect serial numbers or weight...
...In recent weeks and months the buyers of gold futures and paper promises have increasingly become “monetary interests,” i.e., foreign Central Banks – who have clearly recognized the fiat profligacy of Anglo-American Central Banking and their rampant gold price rigging. The reason for the physical shortages of gold bullion ARE SPECIFICALLY because these entities possess more than adequate means to produce the fiat money required to purchase ALL the “relative pittance” of physical gold bullion backing the ridiculous amount of paper promises of gold that have been sold into the market place.
Even a blind squirrel [or an informed shill, perhaps?] should be able to stumble across the litany of actual, historical evidence that shows how ALL fractional, irredeemable, fiat money systems ever devised by mankind have ended in abject failure.
Today’s fractional reserve gold market will be no different.
(emphasis added)
my two cents: If gold and silver exchanges fail to deliver and default, the spot price will go ballistic!!! Same with silver.
Comex and London exchanges will be bankrupt, possibly along with the banks that finance them. |
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Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 12:49 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
just for the record, silver at 16.95
as of november 3, 2009 |
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Anonymous Coward
User ID: 743646
United States
11/3/2009 12:51 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
In a somewhat related topic, I was told all of my pre-1965 coins are worth more now than their face value because of the silver content. Any truth to that? Quoting: Anonymous Coward 792052
Yes.
[link to www.coinflation.com] |
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Anonymous Coward
User ID: 380667
United States
11/3/2009 12:52 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
That is interesting, OP...I think you are right on. |
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Anonymous Coward
User ID: 738892
United States
11/3/2009 1:01 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
India just bought 200 tons of the 400 that the IMF put up for sale. |
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Anonymous Coward
User ID: 434204
United States
11/3/2009 1:05 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
In a somewhat related topic, I was told all of my pre-1965 coins are worth more now than their face value because of the silver content. Any truth to that? Quoting: Anonymous Coward 792052
Absolutely. My mom just cashed in some of hers, she said they had a face value of about $12 and the coin shop paid her about $120.
Make sure you check what you have against on an online calculator to know the silver content before selling.
Here is one:
[link to www.coinflation.com] |
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crazycanuck
User ID: 183770
 Canada
11/3/2009 1:05 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
what does that mean... I am not really good with this market stuff. explain please
People buy gold/silver. Rather than physically get it, Comex gives you a piece of paper saying: You own this. You can pick it up anytime.
Folks have been trying to physically get theirs. Comex gives them the run-around because they don't have all the silver they have promised.
They sold more than they have. The lie got one step closer to being uncovered. Quoting: Anonymous Coward 743646
Gee, if an individual did that (sold more than they had), it would be called fraud and we would go to jail. One law for us, another for "them"...........
 |
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crazycanuck
User ID: 183770
Canada
11/3/2009 1:07 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Posted leading another thread, appears relevant here:
Link: [link to financialsense.com]
Over the past few weeks, anecdotal accounts of shortages of physical gold bullion have been surfacing around the world. Empirical observations supporting this development include [below excerpted from Eric DeCarbonnel – Market Skeptics];
Mints are seeing a sharp rise in sales this year due to interest so strong that dealers are reporting a shortage of products such as Krugerrands and one-ounce bullion coins.
China is now pushing their citizens to buy gold.
Anecdotal accounts from “boots-on-the-ground” gold and silver brokers are reporting heavy ‘net with drawl of physical metal’ at COMEX depositories, raising doubts as to whether there is gold in inventory to match existing warehouse receipts.
London gold vaults are being emptied. Hong Kong is pulling all its physical gold holdings from depositories in the UK and moving their $63 million worth of gold home to newly built vaults near the city's airport. Dubai is also planning to withdraw its gold from London. Meanwhile, private investors and Swiss ETFs continue to move gold out of London.
Many large money managers who were formerly in paper gold are now demanding physical gold bullion instead.
Anecdotal accounts I have already reported on, during the week of Oct. 5, some large allocated physical transactions that were settled in London under VERY strange circumstances. Banks like JPMorgan and Deutsche Bank (who sold endless amounts of gold futures at prices of 950 to 1025) and then tried to make “side deals” with the folks they sold the futures to – offering them spot + 25% (around 1,275 per ounce) to settle in fiat – after their counter parties demanded [allocated settlement] substantial tonnage of physical gold bullion.
Additionally, wide-spread reports specifically relating to COMEX include:
Delays and complications in the delivery process have become increasingly commonplace. It is taking weeks and possibly even months, and sometimes dozen of inquiries, for investors to get the gold they already own out of the warehouse.
More restrictions are being applied to overseas buyers requesting delivery.
Some brokerages will not help with the delivery process or refuse to help even after the commissions are paid.
Investors withdrawing their 100oz. bars from the Comex depositories are being given bars with incorrect serial numbers or weight...
...In recent weeks and months the buyers of gold futures and paper promises have increasingly become “monetary interests,” i.e., foreign Central Banks – who have clearly recognized the fiat profligacy of Anglo-American Central Banking and their rampant gold price rigging. The reason for the physical shortages of gold bullion ARE SPECIFICALLY because these entities possess more than adequate means to produce the fiat money required to purchase ALL the “relative pittance” of physical gold bullion backing the ridiculous amount of paper promises of gold that have been sold into the market place.
Even a blind squirrel [or an informed shill, perhaps?] should be able to stumble across the litany of actual, historical evidence that shows how ALL fractional, irredeemable, fiat money systems ever devised by mankind have ended in abject failure.
Today’s fractional reserve gold market will be no different.
(emphasis added)
my two cents: If gold and silver exchanges fail to deliver and default, the spot price will go ballistic!!! Same with silver.
Comex and London exchanges will be bankrupt, possibly along with the banks that finance them. Quoting: the hermit 796008
Actually, I read about this potential shortage in the MarketOracle.uk more than a year ago, as demand for the physical metal started to go up.....
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Anonymous Coward
User ID: 738892
United States
11/3/2009 1:10 PM | |
Anonymous Coward
User ID: 809398 (OP)
Thailand
11/3/2009 1:13 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
Breaking: Silver shoots up BIG time! Now at 17.14 |
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BLACKOUT DRIVE
User ID: 780030
United States
11/3/2009 1:13 PM | | Re: COMEX: 5% of Silver HAS BEEN REMOVED!! | Quote |
That is interesting, OP...I think you are right on. Quoting: Anonymous Coward 380667
OP if we are reading this right, this might be very interesing indeed...Excellent catch! |
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