Market Curiosity: Exploring Markets And Systems

March 22, 2011

Silver update – death of the US dollar and COMEX?

Filed under: Just Watching — Tags: , , , , , , , — Jeff Fitzmyers @ 10:31 pm

Things are getting really interesting…

Harvey Organ: There are 7 trading days left so in each of the 7 days, the comex must settle upon 625,000 oz each and every day… I do not believe that they can do it.

+ PSLV has a 21% premium to NAV.
+ Scotia Mocatta is still out of 4 of 7 silver offerings.
+ Solid evidence: The official data about central bank gold reserves is bogus and often simply disinformation.
+ 10-Johnson Matthey 1 Troy oz. 999 Fine Silver Bars just sold on Ebay for 540 frn’s/oz. (Sorry, don’t recall who pointed this out.)

Some vault operators are more equal than others. JPM appears immune from processes that everyone else must suffer through. On March 15, 2011, the Commodity Exchange (COMEX) and the New York Mercantile Exchange (NYMEX) advised the CFTC that they had approved J.P. Morgan’s application to become a licensed vault facility, using a “self-certification” process.

Jim Willie’s latest for paid subscribers is rumored to suggest the “secret meeting” in Feb 2011 with all the US ambassadors, was all about devaluing the current dollar and replacing it with a new “Republic Dollar” that is backed by gold and silver. Where is this gold and silver going to come from???

Fed’s Fisher: U.S. debt situation at tipping point “We are seeing speculative activity that may be exacerbating (price rises in) key commodities such as oil.” It’s always those pesky speculators, never the people responsible… “We need to continue to discuss the exit policy… ” Please discuss something that is not going to happen and please don’t discus us stealing your money!

This is for March 21st. Same basic structure today though. About 0.80 between May 2011 and December 2015.

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