Sunday, January 9, 2011

Massive Silver Withdrawals From The Comex

January 8, 2011

Jesse's Café Américain: Massive Silver Withdrawals From The Comex:

 
"It could prove to be a watershed event, or at least an interesting scandal to observe as it unfolds.
Harvery Organ's commentary:
'And now for the big silver report.
We witnessed a massive withdrawal of silver unprecedented in the history of the comex. First there was a smallish 6507 oz of silver deposited to two customers, one being 497 oz and the other 6010 oz). But just look at the huge withdrawals:...."

Prior report that JP Morgan recently took a massive short side position on silver:

Citizens Look to Squeeze Silver Manipulator January 3, 2011

By Eric Fry American FreePress Net http://www.americanfreepress.net/html/silver_150.html

There’s a lot of rumor, buzz, innuendo, chitchat and scuttlebutt about the precious metals markets these days. Most of the buzz is about JPMorgan and silver. Rumor has it that JPMorgan has amassed a whopping short position in silver......For perspective, 3.3 billion ounces is roughly equal to one-third of all the world’s known silver deposits; two times the world’s approximate stockpiles of silver bullion; four times the annual mined supply of silver; 30 times the inventory of silver at the COMEX.....So it should come as no surprise that a grassroots campaign has formed, the sole purpose of which is to punish JPMorgan for its attempted manipulation of the silver market.

A viral campaign to buy physical silver and ‘crash’ the bank is now spreading like wildfire on the Internet,” Rubin reports. “Just Google [the words] ‘Crash JP Morgan; Buy Silver’ [to learn more about it]. . . .Those who wish to participate in squeezing the living daylights out of JPMorgan may want to consider buying physical silver, silver futures and [the iShares Silver Trust, which issues stock backed by silver].”

Maybe the story about JPMorgan’s short position in silver is mere innuendo. Maybe not. But two facts are irrefutable:........

No comments: