Saturday, February 19, 2011

Paging Blythe - "please come to the office, the principal wants to see you about your silver shorts"


-contract holders now looking for delivery of gold, dont want to kick the bucket down the road anymore like normal
-1,131,000 oz standing this month
-commercial banks RAISE shorts by huge 7109 contracts

-OI rises to fucknormous level of 150,615
-ZERO deliveries
-March contracts now stand at 53,125, we are a week away from the show baby!
-withdrawal of 178,378 oz
-2,425,000 standing this month
-JPM et al. adds another 6831 contracts SHORT!
-and biggest JOKE of the day goes to....SLV! Who thinks they found 3,466,666 oz OVERNIGHT to replenish 'physical' supplies, LOL, this is going to be EPIC

I would like you to read the following from Harvey's post today:

"The huge rise in silver price has caught the silver bankers totally offside on the silver banking. The BIS data released in November ( shows that the G 10 bankers have collectively sold forwards and swaps to the tune of 4 billion oz and short naked calls for another 3 billion oz. The total, 7 billion oz represents 10 years of production. If you just do the forwards, then it is 7 years of annual silver production. Let us say the average cost of acquiring these derivatives and forwards equate to $15.00 for silver. Thus collectively the entire G10 bankers are feeling massive pain (losses) to the tune of:

7 billion oz of silver( 32.30-12.00) = 7 billion x $17.30 = 121.1 billion dollars of losses.

This is in a market of only 14 billion dollars. It begs the question to what economic need was this done.This is still off balance sheet.
If you include only the forwards or swaps (the lending of actual metal to which nothing has come back yet) then the losses are:
4 billion x 17.30 or 69 billion dollars.

Regardless how you look at it, the bankers are in serious trouble with this huge rise in silver prices. I hope you understand the severity of the situation.

Keep those tinfoil hats on, I will have more to come. I was at a private conference last night listening to a very important individual who is an expert on the middle east. I will relay some info from there, and why I think this will be a HUGE issue for us moving forward, and hugely beneficial for PM holders.

I will be back later, have many posts to do up, great info coming...I also have a plan to get the word out to many many Canadians who also like many many Americans live in the CNN world influence of mindfucking. My idea will hit the younger generation as well, and with YOUR help, I may be able to...I'll explain will be EPIC, I'm so excited, I'll keep you posted.

QUICK NEWS: Brought to you by: Oh, you know who! ;)

MERS done with fraud says see ya, S.Korean Banks runs, 88 protests this week globally, 10 year surges, $USD death spiral, Iranian ships moving in Suez, 10% inflation for 2011, Silver margin raised like I said 48 hrs prior to release!

Hi Blythe!! Someone told me you read this!! winky winky my lovely! Kisses.


  1. Love our site. I check it throughout the day regularly. Keep up the great work.

    I listened to another video (somewhere) that mentioned that JPM is now long on silver and done with their shorts. Is there any way to verify? Thanks again!

  2. I would love to see the banks eat over $100 billion in loses, but we all know that the Fed will just print up the money and bail them out of their unjust behavior (like mortgage fraud). They have nothing to lose. It is a sad state of affairs. I guess it only means silver can go as high as the Fed decides to print.

  3. "I listened to another video (somewhere) that mentioned that JPM is now long on silver and done with their shorts. Is there any way to verify?"

    ummm, I'm going to say no to that...they are still adding shorts according to the metals data.

    I'm not sure they can ever cover. This is precisely the reason why they have cornered 90% of copper, and most likely numerous other comods. They have covered some, but they are still fucked, no question about it.

  4. If WB et al are standing for delivery, and everyone in the market knows this, is there anyway that the market is going to go down from now? Everyone and their mother is going to pile in right? why would JPM still increase their short positions, surely this is more fuel to the fire?
    Looking forward to hearing the middle east info.

  5. ...also do you think the genie is now out of the bottle for the fiat/PM manipulation.
    I was reading Stoneleigh's opinion ( regarding a flight to safety back to the USD if a shock turns up (Euro crash / oil shortage etc).
    If PM manipulation is over, then the flight would be to the PM's right?
    sorry if this sounds naive....I'm only starting to get my head out of test tubes and into economics.

  6. Look for people to pile into the Yuan soon and PM's. Realize one thing, 95% of all hedge funds dont own any PM's, this equates to 99% of citizens do not even have PAPER exposure to PM's. The dollar will have bounces like the inverse PM's will have pullbacks moving forward, but I see a dark day ahead, as the US$ gets obliterated, and the end game rears its head...I will be in contact shortly with my Citi Group FX contact to see how things are going to shake up this week...last I spoke with him he said the end of days is coming for the dollar...if anyone knows the inside, its this guy.

  7. Interesting times... what a time to be alive, eh? So exciting to imagine all the possibilities both good and bad. I just hope people are actually more sane than I give them credit for and we can have some kind of a transition that is on the low end of the volatility curve. Good luck to us all.

  8. How are people going to pile into the Yuan? I thought china had Yuan FX locked down.
    I was looking at the comex data regarding futures contracts and noticed that there is nearly zero contracts for April delivery but everyone is piling into May? does this point to a price correction in March similar to the January dip or is it just some technical point?

  9. I have a nice graph showing the derivatives exposure of the big commercial banks. Since I don't seem to have the ability to upload it, can I send it to you for uploading?

  10. Blythe reads this? Hey Blythe, I'm taking applications for maids to clean my soon to come mansion on my own personal hawaiian Island kuai.
    Since you are soon to be looking for work I thought you might want to get your foot in the door early.

  11. isnt JPMs combined number like 4 billion ounces? so they alone short more than the other 9 combined

  12. Keep the info coming Mr Silvergoldsilver.
    Love your blog. Always a heartfelt perspective.

  13. SGS, what do you think of this youtube video?

  14. SILVERGOLDSILVER- maybe I understand this wrong but isnt the purpose of the traders to stand for delivery just to get the price up to say 40 dollars and when it hits 40 they will take the paper profits instead of the metal??? if so, doesnt that mean when it hits 40 JP Morgan can knock silver down again pretty hard, similar to what happened in January??? thx..

  15. @ Pearl Jam ... it may well work out that way ... up to $40 ... JPM knocks it hard back to $33-36 ... an we do the whole charade again so on an so forth up past the old high ... 2 steps forward 1 step backwards.

  16. You can find all those answers here...

    About that Youtube video. Not too sure what to make of it, not too sure what his point is, and I was watching him more instead of listening to his message b/c he looks like he's high, out of breath, or borderline drunk.

    Gilliom: send to

  17. SGS, what day in March would the comex have to declare a problem? How many notices sent down, could sit in their in tray before they have admit they can't deliver?

  18. Anyone heard anything regarding what Andrew Maguire is going to say or when he is going to say it?