For the 3rd consecutive day (following the 1 million ounce withdrawal Monday and 651k ounce withdrawal Tuesday) we have a massive silver withdrawal to report from Scotia’s vault Wednesday.
SD reader Saddle has noted that the previous 2 silver withdrawals almost exactly equal a coinciding massive new silver deposit just reported into the SLV fund.
As Harvey Organ has long alleged, it would not surprise us if the cartel is currently scrambling to move around what little PHYSICAL silver they have left to meet delivery requests at the SLV.
I want to point out something very important. SLV is allowed to increase its inventory through paper contracts, physical, and futures. If you look at the SLV inventory for July 10, 2012 you’ll see it increased from 311,271,605.500 ounces up to 312,823,227.900. This is a net increase of: 1,551,622.4 ounces.
COMEX SILVER INVENTORY UPDATE 7/12/12
|METAL DEPOSITORY STATISTICS|
|SILVER||Report Date: 7/12/2012|
|Troy Ounce||Activity Date: 7/11/2012|
|DEPOSITORY||PREV TOTAL||RECEIVED||WITHDRAWN||NET CHANGE||ADJUSTMENT||TOTAL TODAY|
|HSBC BANK, USA|
|JP MORGAN CHASE BANK NA|
With this week’s segregated client theft by PFG, it might not be long until this list is expanded, but here is the missing phyzz from MFG:
Every day we’re shufflin….shufflin
While the CME is now reporting inventory levels to 3 decimal places, strangely enough- once again, NO MENTION FROM THE CME OF THE MISSING 1.4 MILLION OUNCES OF REGISTERED SILVER THAT SIMPLY DISAPPEARED IN THE AFTERMATH OF THE MF GLOBAL BANKRUPTCY!
As a strangely coincidental supply turned up in JPMorgan vaults almost simultaneously as the MFGlobal clients phyzz went missing, until the CME provides an update of what happened to this stolen inventory, The Doc will continue to provide the latest available info on this from the CME:
*Registered ounces of metal currently not available for delivery
as of 11/4/11 due to MFGI bankruptcy. Included in above totals.