Another 1.4 Million Ounces Gone From The CRIMEX

As the price of silver continues to bump along this sideways action until the options expiry date on the 27th, the physical inventory of silver has only gone down. This trend is undeniable proof that this game is coming to an end. They day that the CRIMEX cannot deliver on one single ounce on the billions of ounces they trade, the game will be up. I do not believe this will happen without major manipulations of either rules changes or some other tricks, but sooner or later this game is going to end.


The usually busy July delivery period is coming fast and furious upon us. As I wrote in early May any short term victories in the paper silver market will only lead to long term physical losses. You can plainly see that despite the massive paper selling (8 billion ounces in the first couple of days of May) the physical Registered inventory has dropped from 42 million ounces to now 27 million ounces. With only about 3% of all paper contracts are settled in physical metal and the new regulations that are effecting the FOREX trading in precious metals, July could be the month the deception ends. Just yesterday alone 1.4 million ounces was taken from the CRIMEX. At that pace we may not make it to the end of July. The ramifications of a physical default to the real price of silver boggles my mind. In the mean time, get out of all paper assets and get physical.


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10 comments to Another 1.4 Million Ounces Gone From The CRIMEX

  • VIPER131

    APMEX just sent me a Price Alert last night.

    Silver went below $35 per ounce.

    Time to call APMEX and order more.

    I love options months — the price drops down lower so Ms. Blythe doesn’t have to fork out so much money and all the little ants buy more.

    Is this the positive feedback loop that we were told about? Probably a negative feedback loop for Ms. Blythe.

    Silver Shield — keep kicking ass and taking names!!!!

  • colin

    if july is the delivery month, please explain how the silver in the comex is getting lower every day?

    • Silver Shield

      I will write a longer answer because I think it is important to know, but essentially this is a cancellation of warrants.

  • YoungWolf

    If your banking with JP Morgan you want to take your money out, right?

    • Silver Shield

      It would be a nice gesture but they are one of the few banks that don’t need reserves.

  • James Woroble Jr

    ‘COMEX up x,xxx,xxx amount of ounces’. ‘COMEX down x,xxx,xxx amount of ounces’.

    These are data entries, not subject to independent audit, by a proven self-serving criminal institution.

    DO YOU REALLY BELIEVE THAT THESE PRONOUNCEMENTS FROM THE FOX(Z) TO THE GOYIM FARMERS ABOUT HOW MANY CHICKENS ARE IN THEIR COOPS HAVE ANY BASIS IN REALITY????

    It is theater of the absurd to even post or to refer to such statistics, other than their technical and psychological usefulness to paper day trade in their casino.

  • Lowell L Morse

    Very well put, James

  • ewkeane

    and the sidewards trend looks like it will be on the 200 dma sometime in late july or sometime in august, it could bounce pretty soon, i think.
    it could keep moving sideways, or even down turn. more likely to move sideways some more rather than take a turn south.
    but the trend suggests higher prices in the long term.
    see the five year, and how the london fix bounces off of the 200;
    http://www.kitco.com/charts/techcharts_silver.html
    and check out deriks recent vid, too;
    http://www.youtube.com/watch?v=DhwIDuo5u60

  • RUJOKING

    James,

    COMEX #’s are suspect, agreed.

    They are likely lying up, saying they have more than they do, like some men lie up about income & height. Who lies the other way?

    Bullish for silver, if the COMEX has, say, 30% less than they say they do. Ya know?

  • James Woroble Jr

    ‘Suspect’??? :-)

    In this regard, the COMEX is as ‘suspect’ as postulating what a convicted child molester is doing with with a kid in a locked room who is screaming, ‘NO!, NO! TAKE IT OUT! IT HURTS!’.

    Of course the machinating apologist(Z) would tell you that he could be merely removing a splinter. But why is the door locked? Why is their no transparency and third party audit? It’s not like they haven’t done bad before in this very same vain.

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