After reading Wednesday that Ted Butler believes this entire take-down in silver was for the purpose of inducing a liquidation of physical silver from the SLV, we decided to take a closer look at the silver movements in The JP Morgue's new silver vault this week.
The chart is hard to read, so we'll summarize:
5/9/2011:
JP Morgue holds a whopping 541,486 ounces of physical silver in their vault.
5/10/2011:
JP Morgue adds 109,760 ounces of silver to their new vault, while all other depositories had a total of 435,236 ounces removed from their vaults.
5/11/2011:
JPMorgue adds another 99,515 ounces of silver to their new vault- the rest of the depositories combined..... 0. (We summarized yesterday's results to make them a little easier to read)
Commodity Exchange, INC.
Metal Depository Statistics Report Date: 5/12/2011
Silver Activity Date: 5/11/2011
Metal Depository Statistics Report Date: 5/12/2011
Silver Activity Date: 5/11/2011
Troy Ounce
Depository
JP MORGAN CHASE BANK NA PREV TOTAL NET CHANGED TOTAL TODAY
Registered 0 0 0
Eligible 651,246 99,515 750,761
TOTAL CME REGISTERED 32,749,749 0 32,749,749
TOTAL CME ELIGIBLE 68,311,080 99,515 68,408,636
COMBINED TOTAL 101,060,829 99,515 101,158,385
Ok, so what does this all mean in lay-mans terms? JPMorgue has increased their physical silver position held in their new vault by 39% IN THE LAST 2 DAYS DURING A VIOLENT MANIPULATION INDUCED SILVER SELL-OFF while all other depositories have had silver leave their vaults.
Implication? It certainly appears plausible and actually quite likely that this entire recent manipulative smack-down of silver has been to induce SLV liquidation of physical silver (if the price of silver plummets, the SLV prospectus requires a liquidation of physical silver to keep share/ounce ratios intact). While we don't believe that the SLV has ALL of the silver it claims, SLV certainly still has a large supply of silver, and is likely the only place left on earth that JPMorgue could go to induce a physical silver liquidation.
This strikes us as desperation by Blythe and friends....perhaps we are correct in our thoughts about possible COMEX fireworks in July?
Depository
JP MORGAN CHASE BANK NA PREV TOTAL NET CHANGED TOTAL TODAY
Registered 0 0 0
Eligible 651,246 99,515 750,761
TOTAL CME REGISTERED 32,749,749 0 32,749,749
TOTAL CME ELIGIBLE 68,311,080 99,515 68,408,636
COMBINED TOTAL 101,060,829 99,515 101,158,385
Ok, so what does this all mean in lay-mans terms? JPMorgue has increased their physical silver position held in their new vault by 39% IN THE LAST 2 DAYS DURING A VIOLENT MANIPULATION INDUCED SILVER SELL-OFF while all other depositories have had silver leave their vaults.
Implication? It certainly appears plausible and actually quite likely that this entire recent manipulative smack-down of silver has been to induce SLV liquidation of physical silver (if the price of silver plummets, the SLV prospectus requires a liquidation of physical silver to keep share/ounce ratios intact). While we don't believe that the SLV has ALL of the silver it claims, SLV certainly still has a large supply of silver, and is likely the only place left on earth that JPMorgue could go to induce a physical silver liquidation.
This strikes us as desperation by Blythe and friends....perhaps we are correct in our thoughts about possible COMEX fireworks in July?
