Wednesday, February 23, 2011

100 oz bars about to be extinct, We only need 10K Silver contracts for BOOM, we still have 40K, Nuff said

Before the Comex updates, I would like to let everyone in on some insider info. Spoke with an insider today, the machine for the RCM 100 oz bar is cooked, and the part is from Italy. So that's going to take forever. If you are looking for an 100 oz RCM, buy it tonight as they will be out indefinitely. Secondly, because of the Canadian Mint producing so many grizzles, the maples are soon to be extinct on the shelves as well. Thirdly, this machine problem will cause a massive demand for other 100 oz bars. Watch these vanish within the week. You heard it here first. Fourthly, how many fuckin bars are you making that your industrial machine breaks? Hint. Hint.


-OI rises by, lets say I dont know, 14,285!!!
-low volume=no speculators playing, just people wanting their fuckin gold
-vaults like ghost town
-1,131,100 oz standing this month (gained)

-OI contracts by only 5090
-The total open interest declined from 50,848 to 39,528 (rest standing for delivery)
-Feb OI rises, people want their metal now before the fireworks show!
-Surge in volume last 2 days
-no movements (leading me to believe that COMEX data could now be full of shit)
-2,745,000 oz standing (rise)

CHECK THIS SHIT OUT: SLV adds 7.38 million oz tonight! How the fuck can you move 5.3 out yesterday and then move 7.38 in today in a day? That's not like bumming a cigarette for example.

I am the proud owner of my first 1 kg Aussie Kookaburra (certified real). I will use it as a coaster for my brews as I watch the fireworks in March. Like I said a while ago, I buy anything PHYSICAL under $34, spot price doesn't mean anything anymore. I hope you have your metals in your hand. You may get a pullback to $32.5-33 tonight, but I assure you it will be short lived. Enjoy the rest of the show. Comments welcomed.

QUICK NEWS: Brought to you by - YOU KNOW WHO

Greek police man gets set ablaze, Bahrain+Libya+every ME country in flames, US debt ceiling about to be punched out, March 11 Saudi destruction plan, IMF says some shit don't listen to it, Auction failure, Geither sounding more and more like Mozillo, QE 3 coming..what!!?, WTI set for $348 soon.


  1. EXCELLENT.. thanks SGS. Your blog ROCKS!

  2. Post a pic of the 1kg Aussie!! ;^p

  3. Hi SGS,
    I have been following you the past months. Thanks for your views and insider info.

    I have bought physical here in Tokyo and also have a few positions in COMEX and TOCOM.

    I went in at US$29.02 as you suggested last time.

    Should I liquidate COMEX position now and buy more physical or should I wait a bit more before COMEX goes bust?

    With TOCOM, I intend to get physical delivery when the expiry comes.

    Thanks for your advise.

  4. Tomorrow's gonna be a BIG day!!!

  5. Trader Dan Norcini has a good technical blog. He's already mentioning $40.00 potential. I guess I better load up on some more purchases here with less paper. I never liked to waste paper but at times like this I'm going to waste all the paper I can.

  6. Just a heads up. I just got off the phone with well known silver website and according to the person I spoke with there are seeing MASSIVE orders. All employees have been working a lot of overtime and they are having trouble taking all the orders as the phones have been "ringing off the hook". He said the order flow this month has been HUGE and very unusual for February! Seems like this only echos what the Comex data has been telling us. I have my popcorn ready for the fireworks!

  7. U.S. Government has their priorities once again in other places as usual. It is interesting that paper is being replaced with coin instead. Is this a new trend?
    Sorry but you have to cut and paste my links here:

    About the RCM bars. They are difficult to order now. I'm having equal difficulty with J&M bars. Even monster boxes are getting difficult in a few places. I'm sick of buying now and just going to sit tight and watch the show.

    MR. SGS: How many RCM Grizzly Bears are they minting this year? They always seem to come out when the price takes off higher.

  8. Crisis coming, but I don't think crippling crisis.. I think this is all pointing towards 2012... still silver is going to soar,

  9. I know recently there have been blogs about Perth Mint also running out of 100oz bars. I can confirm that this is not true. I called them up and they asked how many i wanted to buy. So its fair to say that they're still selling.

    Especially good if you're buying in Australian Dollars= discounted price :)


  10. How and where do I order from the Perth Mint? It seems there is a big premium on all of their fancy coins and stuff. I like their 1 oz. gold bars that are assayed. I like them better than Pamp Suisse bars actually. Gainesville Coin is the only one I know that carries their stuff but I don't know where to get their bars actually unless I just missed the link there. Thanks.

    As for silver spot price: Hopefully it holds above 33.50 here at least. I would like to see higher support towards 40.00 soon. Enough of this! Get the ball rolling!

  11. These guys never have any women with them that I have seen:

  12. This is the calm before the storm, believe it or not everyone here is about 1.5 years ahead of the masses. Expect the US dollar to collapse, dead, done, worthless near the end of 2012.

    Right now 99.5% of the population is clueless as to whats going on. Expect a panic near the end, I'm calling at least $400/oz silver before the dollar dies.

  13. Any ideas on how to use the silver to our advantage when the value increases? Buy land with it on contracts? I'm curious as to any game plans folks have on this. Or do we just turn it in for fiat to make certain purchases if needed?

  14. Talking about the Royal Canadian Mint, I just received my new $20 .9999 silver coins today. For $20 the RCM will send you a $20 coin, free delivery. The catch is they are only available in Canada with a maximum purchase of 3 coins per customer. I'm sure that these coins will be stashed away, but they can be used as currency if you want to.

  15. I called CMI today to follow up on my order (I received it right away, but they forgot to add an extra bag)...had to wait through 2 "messages" about how they were busy, so please wait....

    When I got on with my broker, he sounded like he had been going crazy...

  16. ay yay yay!

    my good friends i too have kookaburra coasters, my wedding gift from dear wives, 21 of them and always a clean one for when my fermented yoghurt spills as I surf net for more silver inside info and see silver on its way to the moon as on a winged steed, like our prophet mohammed peace be upon him!


    Why do you think the price of silver is going up? Is our current state of backwardation a result of short supply from the mines – or a backlog at the mints for manufactured investment grade products? Who are the buyers waiting to buy up silver at any price? Are there any? If and when silver reaches this 16:1 ratio we all hear about -- who is going to part with their fiat currency -- or worse still their gold -- for silver?

    Me? I imagine silver will revert to a dollar price commensurate with its value as an industrial commodity – that is -- after the traders are done batting it around like a dead frog.

  18. I am just not sure that the longs will put the necessary 1,7 billion USD on the table to stand for their delivery (and, lordy, how I wish they would). But really: I do not see that happening ...

  19. SGS,
    what is the likelihood that the cause of the current backwardation is that ppl want to take advantage of the current high prices of silver? this would mean that silver is in a bubble and although im skeptical about this explanation, it wouldnt hurt to get a response from those who know more about the current situation than myself. according to this link their response to talks of a physical shortage is that well... i'll let yall read it


  20. Appreciate your excellent and funny expertise, SGS, following you since two weeks.

    CME says ( there is only 31064 March contracts left today, maybe I am missing something.



  21. Watchman,

    perth mint site-

    There is an international number there for ordering, if you order anything over $5k you will need id.
    They have also started an online bullion trading scheme, however i am unsure if that is applicable to US citizens at the moment.

    Hope that helps

  22. apmex has been showing 100z bars oming in 3-11...this has been posted a few days now....will advise if this is taken down or modified....

    watchman, i dont think the answer is known yet on the furture use of our silver....however i think i will see the turn in the road and answer before others, this is said assuming sgs et al are still blogging.....

  23. "You may get a pullback to $32.5-33 tonight, but I assure you it will be short lived."

    I don't know how you do it, but you got a very enviable track record. Thanks for sharing it with us! Especially since you only ask for a couple extra mouse-clicks.

  24. Thank you for your work Mr. SGS, your bears determined me to "speed up the process":)

  25. Hi SGS, went to buy 10 100oz RCM bars from tulving just over a week ago (got maples instead) and they had over 100 bars in stock......Zero today.

    The have 125 monster boxes of maples if anyone wants to load up.

    Looking forward to the OI numbers today. Thanks for the updates.

  26. ...not a good idea to post comments from fofoa on a thread frequented by people who know that silver is money (contrary to paper) and has been throughout recorded history. The vast majority of metals experts with 30-40 years experience knows this. I always buy Au & Ag together. Sad that FOFOA is blind and proud as he spits out his derision of silver, thus exposing his anger at the outperformance. I respect him as a gold savant but am shocked that he is such a silver idiot. Reading him on silver is like listening to Dave Ramsay on gold. BTW - If you want to see utter stupidity on gold, look at some of the past advice of (financial expert) Dave Ramsey.

  27. Anon: Thanks for the PERTH MINT link.

    Looks like silver and palladium are under the gun now. Wonder why?

  28. When these entities like SLV are "moving" millions of ounces in and out, they aren't backing up a truck to the door. They just make a different pile in the warhouse with someone's note on it.

  29. That is, if they really have that much silver at all...

    re 100 oz bars, I am able to still buy them locally but I imagine that will end very soon.