Thursday, April 28, 2011

Undisclosed Email Adressee...Comex is bone dry.

"In a stunning development yesterday 18,366 MAY GOLD CALL options were EXERCISED for futures contracts and 21,721 MAY SILVER CALL options were EXERCISED for futures. If these are not settled in a backroom cash deal for large premiums a default is on the horizon."

Its on like Donkey Kong Motherfuckers.


  1. Everything is a mess now. We just have to hold out now until THE END. It's not far ahead of us.

    Do you have these in Canada?

    Wal Mart Hotel

  2. Think about it logically, JPM is backed by the US government who has an unlimited supply of paper money. If they weren't these losses would show on their books. So people are buying the contracts knowing they will settle for huge cash premiums. Any talk of an actual metal default IS and WILL been just talk. How many times can one say the same thing?


  4. Err, how many oz of gold and silver would that be?

  5. 1,836,600 oz of Gold
    and 108,605,000 oz of Silver

    Total silver in ALL comex vaults both registered and eligible is

    So its more silver than is in the entire COMEX system.

    If true its game over.
    Current reported May OI is 10,963 contracts.

    The report for options exercised yesterday shows 20883 exercised this looks really similar to the number exercised on the last day of Mar 11 options. Way more were exercised on the last day than stood for delivery.

    So I really doubt that we will have 21K more contracts standing for delivery.

  6. It is time for the price discovery for actual physical silver to me made somewhere else beside the CRIMEX where the shitbirds trade 100 oz. of paper for one actual ounce of phyzz...

  7. Dang.

    That's some serious shit.

  8. Fuck it. Keep stackin' dat Phyzz!

    Capcha: Nesse

  9. The scare tactics are starting to show up. Most sheep will bail out now. This $50 mark is not easy to break. Anyone have any good news links? Things are somewhat quiet to uncertain today. I think the silver stalwarts are going to hang in there. :-)

    Tale Your Silver Chips off the Table

  10. Here's the original post from Adrian on the Comex data per SGS post.!&s=f46f97b1827911d2a15ca89ec6264466&p=3235132#post3235132

  11. The physical/paper market is split. They can trade the paper all day long, but the timescale for physical transactions is too long to be affected by these short term volatile moves. The massive move to physical and resulting supply squeeze just might push us right on up even if the sheep try to bail. So bring on the scare tactics! This time the supply shortage is REAL and they just ain't scary enough to make that new silver jump out of the ground!

  12. A Comex default WON'T happen. As long as the USD has ANY value, contract holders will accept huge settlements to not stand for delivery. And if somehow enough people refused to settle in fiat the default would be hidden from public knowledge at all cost. We wouldn't find out until well after the fact.

  13. I'll believe it when it actually happens. Sorry, been reading this blog since it started and this has been said over and over.

    On the topic of the Morgue, Reggie Middleton just wrote a blip about their financial situation, which as I'm sure you could guess, has something fishy about it.

  14. Dr.: The Comex has defaulted just like the USA is bankrupt-we all know it, now they are just keeping it afloat.

  15. Doubters and non-believers! The end is nigh!!

    You people realize that major industrial users acquire their metal through the Comex? Ever thought that through? You think they'll be silent when the litigation headlines hit the front page?

    Always right before the end is when most people lose faith and quit. Few have the endurance for this slog.

    "The darkest time of night is an hour before sunrise."

  16. I see that, SGS. Maybe I'm not understanding what "default" technically means. Does it like actually close it's doors? Stop trading, go offline, etc? I read what Harvey says believe how fukt it is, but what's the end game, here?

    How will I know, as a silver investor strictly buying phizz, that COMEX is done for good?

    Don't try pull the "end is near" card, it's been used so many times it's useless. We're sliding, here...gaining momentum, sure....but some of you make it sound like the lights go out in the next hour! Take a step back, chillax, breathe....

  17. Dr. Durden.

    Lighten the fuk up.

  18. CME raised margins again today.....

  19. Hey guys, did you know the end is near?

    Did you know CRIMEX has defaulted?

    You know how to thank me.

  20. If the COMEX defaults wouldn't all commodity trading cease? That would sort of royally fuck everything pretty quickly no?

    I can see them settling for cash, claiming a shortage of material, maybe. Anyone really know what the COMEX options are? I mean, there is silver constantly being produced and mined, so if prices go high enough and people stop buying, it could restock itself?

    Besides, its the perfect scam, trick millions into buying ETF's, then when the US defaults they are fucked.

    I can see them patching things up, bullshitting, and otherwise cheating to keep this US fiasco going until there agenda is complete and the US is ready to default...

  21. In 2006 the LME ran out of nickel and declared a default so they just changed the rules on the delivery process which favored the short side.

    My point is, do not underestimate the biggest money in the world to change the game to suit themselves based on prevaling conditions.

    In time they will meet their demise as all corruption eventually does but it may take a lot longer that anybody expects.

    Joe M.