JP Morgan, Brink's, and Scotia Mocatta all had eligible silver inventory movements of nearly exactly 600,000 ounces.
Clearly there's no shortage of silver and need to shift inventory around like a 3-card monte game in order to prevent a delivery default, right? RIGHT!?!
COMEX WAREHOUSE SILVER INVENTORY UPDATE 12/30/11
*Brink's received a deposit of 600,577 ounces into eligible vaults
*Delaware received a deposit of 13,955 ounces into eligible vaults
*Delaware also had a withdrawal of 1,067 ounces out of eligible vaults
*No Changes for HSBC
*JP Morgan had a withdrawal of 597,408 ounces out of eligible vaults
*Scotia Mocatta received a deposit of 596,539 ounces into eligible vaults
*TOTAL COMEX REGISTERED Silver Inventories were unchanged at 34,501,725 ounces
*TOTAL COMEX ELIGIBLE Silver Inventories increased a net 607,290 ounces to 82,797,470 ounces
*TOTAL COMEX SILVER Inventories increased to 117,299,195 ounces
As a strangely coincidental supply turned up in JPMorgan vaults almost simultaneously as the MFGlobal clients phyzz went missing, until the CME provides an update of what happened to this stolen inventory, The Doc will continue to provide the latest available info on this from the CME:
*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 |
6 comments:
Nice green day for silver today, but why do the selloffs have a lot more volume than the rallies?
You just described the OI rising.
Doc, another good video by Ann Barnhardt, this one a phone call made by Warren Pollock to one of his brokers, Fidelity:
http://barnhardt.biz/
Pollock, thinking like any rational person, concludes his dollars are not safe at Fidelity as they are doing with customer dollars/accounts essentially what MFG did...
so WP pretty much closes his account...
Do not trust paper silver prices! It's not real. Real is what you hold in your hands. Weak hands lose it, strong continue stacking.
Official GOP Iowa caucus results page
http://caucuses.desmoinesregister.com/data/iowa-caucus/results/
Fidelity I heard some nasty things about that group and I have had my account there since 1985.
They seem to be losing customers taking their accounts out due to MFG. I plan to bail as soon as I get my IRA moved to safer harbors.
How do you deal with a firm that has $1.5 trillion under management if they go sideways?
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