With pleasure I report the following interesting developments hot off todays rumormongering desks. Hot because evidently there are more ass-fires tonight at COMEX. Harvey Organ writes that Adrian Douglas (GATA & MFA) has today informed the following notices are standing for delivery on May COMEX;
Gold 1.8366 million ounces Silver 108 million ounces
Why are these figures interesting you ask?
There are interesting because there are only 1.8323 million ounces of registered gold available for delivery in COMEX warehouses and as you see, holders of contracts are standing for delivery of 1.8366 million ounces of gold. They are even more interesting for silver because there are only 33.3 million ounces of registered silver available for delivery in COMEX warehouses and holders of contracts are standing for delivery of 108 million ounces of silver. Do the maths.
Given the above scenario is it possible that COMEX margins were yiked again today for the SECOND time this WEEK to help with the ass-fires?? How is it possible anyway that the premier metals exchange COMEX in the mightiest country on earth has less silver of gold in its warehouses than possibly one or two large banks have sold short?? It didnt walk out the door while you were sleeping last night.There has in fact been a relentless decline in COMEX silver inventories for years.
Admiring the graph (thanks Jesses cafe) one cant help but ask if the CME group were indeed telling the truth when in February with straight faces and the faint smell of smoke coming from their asses, they denied a shortage of physical silver in their COMEX market was evident.
Enough question. The following four weeks will be very interesting for those invested in silver stocks and physical silver. They will be interesting weeks for the operators of unallocated silver and gold schemes as enquiries regarding the redemption of physical metals increase somewhat. Some of those enquiries might also be from investors, wink! They will be interesting weeks for those firemen who will be regularly called upon to extinguish ass-fires with only slightly deceptive and misleading statements to markets assuring them everything is ok as there is unlimited supply of silver and gold in paper-land. Lastly they will be interesting for those standing on the sidelines patiently waiting for a silver correction to stock up on silver goodies because "parabolic markets always correct". Correct. Poly want a cracker?
As a reminder Adrian Douglas is the remarkable individual who with GATA has been responsible for uncovering the LBMA scams in gold and silver and for assisting lawsuits against JP Morgan and HSBC for silver fraud on COMEX.
