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Silver order trouble... does silver really burn or is that fiat?
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Thread: Silver order trouble... does silver really burn or is that fiat?

  1. #1
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    Exclamation Silver order trouble... does silver really burn or is that fiat?

    (from Bill Murphy of Lemetropole cafe on silver deliveries as relayed to him from a silver trader getting his silver):


    *Then today I received a phone call from a sophisticated Café member who is in the gold/silver business. This person asked me about a client who was having trouble getting his $5 million silver order delivered. He is getting one excuse after another why he is not getting his physical silver. The question to me was about the manufacturing dates these days for silver being delivered … meaning that what is delivered are current date bars … because there just isn’t any silver around in size to be delivered. SMOKE is everywhere. It is billowing and is advertising the coming silver fire.


    http://www.youtube.com/watch?v=HIWNujn6adM
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  2. #2
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    Good stuff!
    I think Shellster should intervene here and get to the bottom of this.
    He has stated numerous times that he would take a stack of 1000 ounce silver bars and deliver them on his lunch break to nervous clients.
    I don't think it's a big deal. lol

  3. #3
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    I wouldn't be surprised in the least if they have NONE left, and are filling orders as they come in. Anytime a business has delays in delivering their product means the shelves are empty, or they are incompetent. I like to believe it's the empty stock room. If silver isn't over 100 by Jan 1st, I'll eat my hat.

  4. #4
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    Whoever that is must be dealing with a highly questionable dealer. Or a broke one.

    In the futures market we are talking about a measly 34 contracts. The dealer could have arranged to take delivery from an exchange depository any weekday they like(except yesterday). ScotiaMocatta is an exchange depository, if they didn't have it on hand, the certificates wouldn't exist in the first place. In the metals market, Mocatta is the 800 pound gorilla that sits across the table from J. Aron. Sounds to me like someone is bullsh*tting the troops.

  5. #5
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    Quote Originally Posted by Matthew Shelley View Post
    Whoever that is must be dealing with a highly questionable dealer. Or a broke one.

    In the futures market we are talking about a measly 34 contracts. The dealer could have arranged to take delivery from an exchange depository any weekday they like(except yesterday). ScotiaMocatta is an exchange depository, if they didn't have it on hand, the certificates wouldn't exist in the first place. In the metals market, Mocatta is the 800 pound gorilla that sits across the table from J. Aron. Sounds to me like someone is bullsh*tting the troops.
    Yea. That's a measly 5.5 Million. They coulda shoulda woulda delivered that in a shoping basket. Matthew. Give us some examples of 170,000 ounce deliveries happenig smoothly now. You're there oh ye wise one. Right? Don't just blow us all up wil bearish BS. This is a silver site for silver investors. You really think they don't know somethings really fishy. We seen and felt the volotility. We've seen huge backwardization. No news there. I forgot to mention Matthew's Fees, and delivery fees plus freight.

  6. #6
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    Quote Originally Posted by slimsilvershady View Post
    Yea. That's a measly 5.5 Million. They coulda shoulda woulda delivered that in a shoping basket. Matthew. Give us some examples of 170,000 ounce deliveries happenig smoothly now. You're there oh ye wise one. Right? Don't just blow us all up wil bearish BS. This is a silver site for silver investors. You really think they don't know somethings really fishy. We seen and felt the volotility. We've seen huge backwardization. No news there. I forgot to mention Matthew's Fees, and delivery fees plus freight.
    On the CME website is the records for delivery which is plainly out in the open for all to see. What you are looking for are the words "issuers" and "stoppers". The stoppers being the ones who are taking the deliveries. Today was a light day, being the day after a holiday and the first day of the September deliveries. http://www.cmegroup.com/delivery_rep...topsReport.pdf

    You are wasting valuable electrons with your posts that can easily be exposed.

  7. #7
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    Quote Originally Posted by Matthew Shelley View Post
    On the CME website is the records for delivery which is plainly out in the open for all to see. What you are looking for are the words "issuers" and "stoppers". The stoppers being the ones who are taking the deliveries. Today was a light day, being the day after a holiday and the first day of the September deliveries. http://www.cmegroup.com/delivery_rep...topsReport.pdf

    You are wasting valuable electrons with your posts that can easily be exposed.
    THAT'S AWFULLY TRANSPARENT matthew shelley

  8. #8
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    Quote Originally Posted by Matthew Shelley View Post
    On the CME website is the records for delivery which is plainly out in the open for all to see. What you are looking for are the words "issuers" and "stoppers". The stoppers being the ones who are taking the deliveries. Today was a light day, being the day after a holiday and the first day of the September deliveries. http://www.cmegroup.com/delivery_rep...topsReport.pdf

    You are wasting valuable electrons with your posts that can easily be exposed.

    And they delivered 1,460,000 ounces the day before (292 contracts). Not like that will be a typical delivery day throughout the month by any means, but it's not at all uncommon to see several hundred to a thousand or more contracts in a month being delivered from COMEX.

    I think what screws with so many, is the fact that the COMEX warehouse reports only show what is in the REGISTERED and ELIGIBLE categories. There is the unknown amount that falls under unallocated inventory or something like that. We look at the COMEX warehouse inventory and see 1,460,000 ounces being delivered and yet it's not uncommon to see no reductions or an actual increase in the COMEX inventory as a result. Then the average person is saying bullshit, that can't be possible. You can't deliver 1,460,000 ounces and end up with more inventory than you started. They never delivered that inventory or the warehouse numbers are really not there. I think keeping secret how much total inventory is in those warehouses, has a lot to do with keeping the cost under control, if no one knows if there is little or a lot. Investors can't go crazy if they don't know the true numbers and they would if they knew the cupboard was almost empty and they might leave the market if they felt there was too much available Silver. You can bet we might very well be one of the first to find out about a true impending Silver shortage, because those retail mints that rely on those 1,000 ounce bars to produce our products, will be some of the first to experience long delivery delays. Which will result in a shortage in our retail market and panic buying as the rumors spread, rather they are true or false.

    I'm not saying the numbers posted by COMEX are not accurate, I'm saying they do not include all of their inventory.
    Last edited by valerb; 4th September 2012 at 18:12.
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  9. #9
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    Quote Originally Posted by valerb View Post
    And they delivered 1,460,000 ounces the day before (292 contracts). Not like that will be a typical delivery day throughout the month by any means, but it's not at all uncommon to see several hundred to a thousand or more contracts in a month being delivered from COMEX.
    I think what screws with so many, is the fact that the COMEX warehouse reports only show what is in the REGISTERED and ELIGIBLE categories. There is the unknown amount that falls under unallocated inventory or something like that. We look at the COMEX warehouse inventory and see 1,460,000 ounces being delivered and yet it's not uncommon to see no reductions or an actual increase in the COMEX inventory as a result. Then the average person is saying bullshit, that can't be possible. You can't deliver 1,460,000 ounces and end up with more inventory than you started. They never delivered that inventory or the warehouse numbers are really not there. I think keeping secret how much total inventory is in those warehouses, has a lot to do with keeping the cost under control, if no one knows if there is little or a lot. Investors can't go crazy if they don't know the true numbers and they would if they knew the cupboard was almost empty and they might leave the market if they felt there was too much available Silver. You can bet we might very well be one of the first to find out about a true impending Silver shortage, because those retail mints that rely on those 1,000 ounce bars to produce our products, will be some of the first to experience long delivery delays. Which will result in a shortage in our retail market and panic buying as the rumors spread, rather they are true or false.
    I'm not saying the numbers posted by COMEX are not accurate, I'm saying they do not include all of their inventory.
    Val,

    I know this will cause a ruckus with people who would like to think we live in a simple world, but I am sure you will understand. Life is faintly more complicated than what we would like. Metals deliveries are certificates for metal in the warehouse. The certificates are allocated or unallocated metal. Allocated stuff is in the back of the warehouse, and is metal that is directly assigned by serial number to the specific cert. Unallocated is the stuff in the front. You walk in with an unallocated cert and you get 5,000 ounces, but it's any 5,000 ounces off the shelf. There is also an issue of whether metal is held in individual name or 'house' name. House(as in 'brokerage house') name is cheaper and has less fees, but individual name is more secure. With the MF headache, house certs landed in the equity pool, individual certs were assets named to specific people or entities and could only be returned to the same.

    The last day of the month tends to be a big delivery day as that is when things come to a head. The last day of September or, more importantly, December will be big days as those are heavy Silver months.

    The certs apply to Silver that is already in the depositories. If there isn't enough physical Silver for you to show up with an armored truck and demand delivery, you will get certs that are assigned to a different depository, that actually does have the Silver. There aren't always the complete physical deliveries for every single ounce, because money moves like money and I can sell you 5,000 bushels of corn on a railcar that you will never see on a track in the middle of Nebraska.

    For all the goofs who want to tell me everything they "know" about deliveries and how it's going to implode, show me the money, and I will arrange to have the Silver dropped off in front of your garage door.

  10. #10
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    Quote Originally Posted by Matthew Shelley View Post
    Whoever that is must be dealing with a highly questionable dealer. Or a broke one.

    In the futures market we are talking about a measly 34 contracts. The dealer could have arranged to take delivery from an exchange depository any weekday they like(except yesterday). ScotiaMocatta is an exchange depository, if they didn't have it on hand, the certificates wouldn't exist in the first place. In the metals market, Mocatta is the 800 pound gorilla that sits across the table from J. Aron. Sounds to me like someone is bullsh*tting the troops.
    Ever get the feeling that you don't really know what's going on down the hall? What your boss tells you, isn't what you're hearing from the others?

    But hey, You're a broker and you know everything that's going on in the silver market. So you'll trash something you don't know anything about.

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