Wonder why silver’s take-down was renewed this week? The Doc may have found the answer.
After reading Wednesday that Ted Butler believes this entire take-down in silver was for the purpose of inducing a liquidation of physical silver from the SLV, we decided to take a closer look at the silver movements in The JP Morgue’s new silver vault this week.
The chart is hard to read, so we’ll summarize:
5/9/2011:
JP Morgue holds a whopping 541,486 ounces of physical silver in their vault.
5/10/2011:
JP Morgue adds 109,760 ounces of silver to their new vault, while all other depositories had a total of 435,236 ounces removed from their vaults.
5/11/2011:
JPMorgue adds another 99,515 ounces of silver to their new vault- the rest of the depositories combined….. 0. (We summarized yesterday’s results to make them a little easier to read)
Metal Depository Statistics
Report Date: 5/12/2011Silver Activity Date: 5/11/2011
Depository
JP MORGAN CHASE BANK NA
PREV TOTAL NET CHANGED TOTAL TODAYRegistered 0 0 0
Eligible 651,246 99,515 750,761
TOTAL CME REGISTERED
32,749,749 0 32,749,749TOTAL CME ELIGIBLE 68,311,080 99,515 68,408,636
COMBINED TOTAL 101,060,829 99,515 101,158,385
Ok, so what does this all mean in lay-mans terms? JPMorgue has increased their physical silver position held in their new vault by 39% IN THE LAST 2 DAYS DURING A VIOLENT MANIPULATION INDUCED SILVER SELL-OFF while all other depositories have had silver leave their vaults.
Implication? It certainly appears plausible and actually quite likely that this entire recent manipulative smack-down of silver has been to induce SLV liquidation of physical silver (if the price of silver plummets, the SLV prospectus requires a liquidation of physical silver to keep share/ounce ratios intact). While we don’t believe that the SLV has ALL of the silver it claims, SLV certainly still has a large supply of silver, and is likely the only place left on earth that JPMorgue could go to induce a physical silver liquidation.
This strikes us as desperation by Blythe and friends….perhaps we are correct in our thoughts about possible COMEX fireworks in July?
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so the question is did they come up with enough physical to make it through July delivery? doesn't look like it- at least as of those 5/11 numbers.
This is interesting. Thank you.
Nice work Doc. This is why they needed that vault in record time. This take down was planned and executed. Now ask yourself.. why are they stockpiling physical silver? Is there a paper default coming? If you are playing the options game, don't get greedy. When it goes up and you make a good profit, get out and buy physical.
The Kill Bin Laden game should be turned into a JP Morgue game!
This is like a Who Done It novel. In the end the longs will have to accept fiat since there is not enough physical. Lets throw in an investigation called The CMI Commission.How about a law from congress or throw in an Executive Order and we will be the bad guys who caused it all. In the end the longs will have to accept fiat since there is not enough physical. Then JPM will be put in charge of liquidating CMI in bankrupcy. CMI will be renamed and all corruption will be done away with. Did I leave anything out?
So it is really true then… all of it. It's war now baby! The fever is rising.
Sorry friends. I mean the CME rather than the CMI. It was my birthday and wife wanted me to blow the candles on the cake so I was in a hurry. My question,"Did I leave anything out." The answer is yes, the butler did it. Excuse me, the evil speculators who are starving the poor people of the world did it. Obama will be a fucking hero and Bernie because he will print all the fiat to put out this fire and take care of JPM & HSBS short positions because they were trying to save the dollar and the country. Propaganda and people's perception of reality.
are they adding the physical silver to try to prevent a July default, or to build a physical long position for themselves because they know the end is near? anybody have any thoughts?
We need to start taking delivery from the Comex! Not all of us have $175,000 to take delivery. Let's get a group together (18ppl) and everybody pitch in $10,000. We will take the bars and convert them to 1oz rounds (I have a connection that will do it for $0.90 per oz). That blows away APMEX pricing for 1oz rounds…who's in?
Big Machine
I think you got it right – my feeling is they know the end is near, but if its a July default, its the same thing.
The Navigator