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| COMEX Warehouse Come July? |
It appears that most of this loss was not due to a withdrawal, but rather was due to an adjustment from Scotia Mocatta, which recorded an adjustment of 1,456,488 ounces from registered to eligible status! (Eligible silver does not qualify as inventory that can be delivered to longs).
As we reported this morning, US Silver Eagle sales to little men like our readers are a whopping 18.9 million ounces for THE FIRST 5 MONTHS OF 2011, and total COMEX inventory is now down to a mere 29.6 million ounces!
Perhaps even more interesting, The Morgue's registered silver inventory still sits at 750,761 ounces.
This means that after increasing their physical silver held at their vault by 39% over 2 days DURING A VIOLENT MANIPULATIVE CARTEL INDUCED SELL-OFF, The Morgue hasn't been able to add a single ounce of silver to their vaults ever since! This just solidifies our theory that the whole purpose of the early May silver take-down was to:
1. Prevent a May COMEX default (the cartel appears to be trying to extend COMEX's life month by month at this point)
2. Force a liquidation of physical silver from SLV, which was then scooped up by The Morgue and promptly deposited into their new vault.
Good luck making it through the July delivery month with a COMEX silver inventory below 30 million ounces Blythe- you had better be prepared to offer 200% premiums for cash settlement!
The game's about up folks. Real silver is vanishing at an astonishing pace! Stack up while you can, looks like you won't be able to (at anywhere near current fiat prices) much longer!
| Click here for the full COMEX warehouse data: | ||||||
