perth mint has run out of silver bars, page-28

Thanks dub I have now read that thread at SS


IMO brons replies on that thread paint a different picture to what Jeffrey Christian is trying to paint

Firstly, Jeffrey implies that the Perth Mint is overflowing with silver (1000oz bars) that it cant sell and would love to sell, and most other metal depositaries are full of PMs as well, basically that the world is awash in silver.

From my reading of brons replies, it appears that the Perth Mint does not actually own any precious metals at all, they use either pool or unallocated metal stored with them for their fabrication process, the silver that was drawn from their pool account is then replaced when the perthmint either imports or refines enough to replace it.

If this is indeed correct then how can Jeffrey Christian say that the perthmint is full of silver that they would love someone to come in and buy and move out of there. SOMEONE ALREADY OWNS THAT SILVER!, the perthmint is simply only storing it for the REAL OWNERS, if the perthmint simply sold it all, and did not replace it, would that not be a breach of contract.

Is this not the same for the other depositaries, the silver is already sold and is being stored, IMO the two reasons depositries maybe full of silver is, that silver is still cheap compared to gold, a pallet of silver is only worth around $1million, whilst the same sized pallet of gold would be worth around $100million, also when silver was really cheap, alot of people would store their silver say at home, but now people are chosing a safer form of storage.


Jeffrey also cleared up another point that I have argued here in the past, I remember a debate about this with johnaus

Jeffrey explains, the comex is a futures exchange and has all kinds of mechanisms to resolve congestion if there is problems there, you can settle for cash, the rules are already there, its a matter of imposing the rules. Also that the reason the comex wont default is because players dont and wont want delivery.
This is IMO one of the main reasons silver is cheap, you can sell silver that you do not own and never have to worry about having to come up with that metal. So then what is the point of the comex if not to be a bona fide marketplace between buyers and sellers, no wonder those wanting to buy physical metal dont play in that marketplace, but the price action on this paper market dictates that real physical metals price, and affects the lively hoods of those who invest, hold or mine this metal.



So let me get this straight,

I cannot buy any bar of any size (including any of their 1000oz bars that they store for the real owners) from the Perth mint, because they have none for sale, and wont allow any silver bars to be ordered, because they and other world mints are experiencing huge physical demand, which they can not meet.

If I buy a futures contract and demand delivery, delivery cannot be enforced.
From what has Jeffrey said earlier, there can be up to 100 times more ounces sold in futures contracts than what actually exists to back these sales.

I can order silver through bullion dealers and pay upfront, without knowing when I might get my silver and take my chance that the dealer doesnt go under in the meantime.
(I already have orders unfilled for longer than 2 months)

all these facts

Yet there is no shortage of silver

Yet the price of silver falls

Yet the market price for silver is fair and not manipulated

Yet when we question this we are called conspiracy theorists



If physical silver is not in short supply, and the spot price is a fair indication of its value, then why is there none available to purchase at this price.
Why does the supply/demand balance not apply to silver.


I am not having a go at bron or the Perth Mint, it is just the Jeffrey made a point of the availability of silver at the Perthmint in his interview with Daniela



cheers grant


the above is opinion only and written without prejudice