For an explanation, consider today's July silver open interest from The CME Group.
The banksters are becoming desperate for physical silver, as July open interest closed today at 66,555 contracts, or 332,775,000 ounces of silver. Again, this is against a backdrop of less than 33 million ounces of physical silver remaining at the COMEX. Will the game of musical chairs continue in July, with longs settling for Blythe's generous cash premium? One day soon the music will end, and those playing the game will find not just one, but numerous chairs missing.
| Daily Settlements for Silver Futures Trade Date: 05/11/2011 |
| Month | Change | Settle | Estimated Volume | Prior Day Open Interest | ||||
|---|---|---|---|---|---|---|---|---|
| MAY 11 | -2.971 | 35.509 | 321 | 339 | ||||
| JUN 11 | -2.971 | 35.509 | 3,682 | 702 | ||||
| JLY 11 | -2.971 | 35.515 | 136,460 | 66,555 |
5 comments:
Doc, we need to get together a buying group and capitalize on this cash premium. The worst thing that could happen if they don't give us the premium is a split among the buying group of all the silver. And I like that alternative too!
it wud help if u spoke in basic terms rather than greenspeak. do u think we r gong up or down, or don't want to make the call. I am a seller till 27.66
how is this greenspeak anonymous? what dont you understand? 332 million ounces longs could stand for delivery for, and less than 32 million ounces remaining in Comex inventory
can the cartel make it through July?
Their lies are running out... I suggest everyone holding this worthless paper to get your money out and buy some physical before it's too late. But they have to get violent now, there is nothing else left to do.
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