Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19
The Key Test Ahead
Results 1 to 2 of 2

Thread: The Key Test Ahead

  1. #1
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    8,961

    Default The Key Test Ahead

    Theodore Butler | August 4, 2017 - 9:15am

    Before getting into the subject of today’s title, allow me to update a couple of topics previously discussed. Last Wednesday, I offered a review of world silver inventories in which I concluded that there were roughly one billion oz in fully documented inventories of metal in industry standard 1000 oz bars and perhaps another 500 million to one billion additional oz in unverified holdings; making a grand total of 1.5 to 2 billion oz for world silver inventories in, essentially, the only form that matters.

    I went on to claim that JPMorgan owned a total of 600 million oz of that silver, including just over 100 million oz in its COMEX warehouse and 500 million in unverified holdings. In essence, I was claiming that JPMorgan held either all of the world’s unverified silver inventories or that there might be another 500 million oz out there that JPM didn’t own. I know this is a pretty outrageous claim, but I study this stuff closely and it is my firm conclusion that JPMorgan holds between 30% to 40% of all the 1000 oz bars in the world. Most outrageous of all, of course, is that JPMorgan bought all this silver over the past six years as it depressed the price by virtue of it also being the largest paper short seller on the COMEX.

    When I wrote last week’s article, I knew full well that the LBMA was about to publish, for the first time ever, the quantities of gold and silver bullion held in London. To be frank, one reason I wrote the inventory article was to preempt the LBMA, because I was sure they would overstate world silver inventories. In the interest of full disclosure, please know that in terms of transparency and reasonable verification of its published statistics, I hold the LBMA in the lowest possible regard –almost to the point of disregarding everything they claim. I had every expectation that the LBMA would report that many billions of silver ounces resided in their affiliated vaults.

    Therefore, it came as quite a bit of a shock to read that the LBMA reported that it held “only” one billion oz of silver, since it was much less than I would have expected it to report. I’m not going to get into the amount of gold (240 million oz) that the LBMA claims to have in its vaults, for the simple reason that no one argues that there isn’t roughly 5.6 billion oz of gold in all forms throughout the world and the amount said to be in the LBMA is less than 5% of the total gold in the world (even though it’s the second largest gold holding in the world, behind the US Government’s holdings). A key point I tried to make last Wednesday was that individual gold stockpiles were less critical because there was no dispute about how much total gold existed. There could be (and is) endless discussion about who really owns the world’s gold, but not that it exists in reasonably-known quantities.

    http://silverseek.com/commentary/key-test-ahead-16791
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  2. #2
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    8,961

    Default

    I have to give Ted credit, he's not like most of the SilverSellers, he's not out here selling Silver, he's out here trying to get you to spend your money on "HIS" Silver BS.

    If you go through his archive over the past couple decades, you'll find one theory after another from absolutely no Silver left on earth to commercial investors called prehistoric reptiles consuming one another to pointing fingers at this person, group or entity.

    Now a couple decades later for all the world to see, he and all the other SilverSellers have been proven dead wrong about the supply chain problem for Silver as it's been proven to be everywhere and in great abundance.

    We are no longer waiting for the supply to run dry in a matter of months but we are faced with an extra Billion(s) to run out of before a shortage can ever take place.

    Keep in mind that no matter how low the supply runs and how high the price rises, people will be selling their hoards into a rising market place to take advantage of their investment and that has to be another Billion(s) ounces on the sidelines.

    Other than market players using the market to their upside advantage for profit, I don't see the supply being a major player no matter how many miners have tiny changes in their production because of circumstances.

    Put another way, if the Silver Guru's have never been able to really know how much Silver is actually available in the world, why should anyone start to believe them today, especially with so much of it out in the open for everyone to see.

    Yet here we have Ted trying to downplay the one billion ounces the LBMA is reporting to have in their vaults, as if it really makes a whole hell of a difference where the hundreds of millions, if not billions are stashed in which vaults around the world.

    You've come a long way Ted from 2005 when your theory was there wasn't enough Silver in the world to fund the 129 million ounces that was needed to start SLV back in 2006. Go with the flow Ted, go with the flow...

    I'm sorry I forgot, Silver in not an investment, it's a life line for your future when everything else turns to dust around you.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •