Tuesday, November 22, 2011

2.8 Million Ounces of Silver PHYZZ Withdrawn from COMEX Vaults Monday!

We have 3 major withdrawals to report from Monday's COMEX silver inventory movements, including an almost unprecedentedly large withdrawal of 2.3 million ounces from Brinks' vaults!


*Brink's had a massive withdrawal of 2,346,587 ounces out of eligible vaults

*Delaware had a withdrawal of 6,999 ounces out of eligible vaults

*HSBC had a withdrawal of 406,010 ounces out of eligible vaults

*No Changes for JP Morgan or Scotia Mocatta

*TOTAL REGISTERED SILVER was unchanged at 32,563,955 ounces
*TOTAL ELIGIBLE SILVER declined a net 2,759,596 ounces to 73,322,667 ounces
*TOTAL COMEX SILVER INVENTORY declined to 105,886,622 ounces

Over 1 million ounces of MF Global clients' silver remains in the custody of The Morgue:

*Registered ounces of metal currently not available  for delivery as
of 11/4/11 due to MFGI bankruptcy. Included in above totals.

DEPOSITORY  Registered 
Brinks 210,320
Delaware 65,706
HSBC 793,734
Scotia Mocatta 351,156

Clearly COMEX silver inventory volatility is increasing almost exponentially now, as customer confidence in the integrity of the exchange itself is now shattered in the wake of the MF Global theft as the CME has refused to make the customers good on the MF Global/JPM theft, and the bullion banks scramble to shift the remaining phyzz under their control around to meet delivery requests and put out fires.