MASSIVE COMEX SILVER WITHDRAWAL ON FRIDAY- 3.6 MILLION OUNCES WITHDRAWN FROM BRINKS!

 There was a massive silver withdrawal out of the Comex on Friday.  Over the past week, there has been a steady increase in the total amount of silver in the Comex warehouses.

However, in one huge withdrawal, 3.6 MILLION OUNCES, a whopping 17% of Brinks total REGISTERED silver inventory was removed on Friday.  I have not seen such a large withdrawal from the registered category for quite some time.
Furthermore, this single withdrawal from the Brinks registered category was nearly 10% of all the total registered silver in the Comex warehouses.
NEW IMPORTANT UDPATE BELOW:  added at 9:53 pm SATURDAY

Brinks had a staggering 3.6 million ounce silver withdrawal (or 17% ) from its total REGISTERED INVENTORY on Friday.  There was an additional 558,390 ounces withdrawn from HSBC.
There were two deposits on the same day.  456,057 ounces was deposited into the JP Morgan warehouse and 1,176,937 ounces went into the Scotia Mocatta vaults.

 http://www.silverdoctors.com/massive-comex-silver-withdrawal-on-friday/

Who says silver is second best? Price streaks ahead 572% in the past decade - beating even gold as the top-performing commodity

Silver has zoomed up in value by 572 per cent over the past decade - outstripping the performance of all other top commodities, including gold.
Gold, which saw a 428 per cent price jump, was the second-best performer in a league table compiled by Lloyds TSB Private Banking.
The top duo were followed by tin (414 per cent), copper (406 per cent) and lead (344 per cent).

But there is a sting in the tail, because commodity prices have suffered an overall decline of 13 per cent in the past year due to fears of a global economic slump - and precious and base metals have fared worst with falls of 19 per cent in both sectors.

Some 15 of the 20 commodities tracked by Lloyds TSB have at least doubled in value since 2002, according to Lloyds TSB.
Silver proved the winner over 10 years because it is seen as a safe haven investment and is in high demand for industrial uses, it explained.

Commodity values in general soared due to the relatively weak U.S. dollar - in which most are priced - and strong economic growth in emerging markets as they become more industrialised and middle class.
The 161 per cent rise in overall commodity prices over 10 years dwarfs the 35 per cent return investors got from UK shares during the same period.
However, the sharp correction in commodity values in the past year highlights the challenges faced by those who invest in this volatile asset class.
Just six out of the commodities monitored by Lloyds TSB have posted an increase in value over the past 12 months.
The best performer over one year was soya with a 24 per cent rise. It only ranks around the middle of the 10-year league table, but supply problems in the U.S. have recently pushed up prices.
Wheat, corn and crude oil have also seen prices rise over one year - but coffee has almost halved in value due to changes in trading conditions.

Silver analysts' forecasts & commentary for 2012.

 Silver analysts' forecasts & commentary for 2012.

 silver (All prices in USD's)

↓	high	low	average	range
YTD actual at 21-Sep-12	$37.23	$26.67	$30.53	$10.56
Wolfgang Wrzesniok-Rossbach - Degussa Goldhandel GmbH	$44.00	$25.00	$35.00	$19.00
William Adams - Fastmarkets	$53.00	$24.00	$32.15	$29.00
Tom Kendall - Credit Suisse Securities (Europe) Ltd	$42.60	$24.20	$32.80	$18.40
Thorsten Proettel - LBBW	$37.00	$22.00	$31.00	$15.00
Suki Cooper - Barclays Capital	$45.00	$22.00	$32.50	$23.00
Ross Norman - Sharps Pixley Ltd	$50.00	$20.00	$37.35	$30.00
Rohit Savant - CPM Group	$35.00	$20.00	$27.00	$15.00
René Hochreiter - Allan Hochreiter (Pty) Ltd	$48.00	$28.00	$38.00	$20.00
Philip Klapwijk - Thomson Reuters GFMS	$45.05	$26.85	$34.20	$18.20
Peter Fertig - QCR Quantitative Commodity Research Ltd	$45.00	$25.00	$33.90	$20.00
Michael Widmer - BAML	$40.00	$25.00	$34.00	$15.00
Michael Jansen - JPMorgan Securities	$36.00	$26.00	$34.00	$10.00
Matthew Turner - Mitsubishi Corporation International (Europe) Plc	$45.10	$24.15	$32.95	$20.95
Jeffrey Rhodes - INTL Commodities	$50.25	$22.25	$36.25	$28.00
James Steel - HSBC	$38.00	$27.00	$34.00	$11.00
Frederic Panizzutti - MKS Finance S.A.	$50.00	$27.00	$36.00	$23.00
Edel Tully - UBS	$50.00	$24.00	$35.00	$26.00
Eddie Nagao - Sumitomo Corporation	$33.00	$23.50	$28.00	$9.50
David Jollie - Mitsui & Co Precious Metals Inc	$44.60	$19.20	$30.95	$25.40
Daniel Smith - Standard Chartered	$48.00	$26.00	$39.20	$22.00
Daniel Brebner - Deutsche Bank	$45.00	$26.00	$37.00	$19.00
Carl Firman - VM Group	$42.50	$24.10	$31.40	$18.40
Bhargava Vaidya - B.N. Vaidya & Associates	$48.10	$21.25	$29.20	$26.85
Bayram Dincer - LGT Capital Management	$50.00	$25.00	$42.00	$25.00
Average forecasts -	$44.49	$24.06	$33.98	$20.43
Anne-Laure Tremblay - BNP Paribas	$47.00	$24.00	$35.75	$23.00

http://www.lbma.org.uk/pages/index.cfm?page_id=142

Cartel Dumped 2x Annual US Silver Production on Market in 15 Min to Smash Silver Under $35

 After silver exploded through $35 on this today’s COMEX open, we wrote this morning that should silver hold $35 through today’s weekly close, the metal would quickly run to $37-$37.50 early next week as a massive short squeeze developed.

The cartel understood the predicament they were in, and responded with a massive paper dump on the market to stuff price back below $35.
Between 10:35 and 10:50am EST, an astonishing 62.5 million ounces of paper silver were indiscriminately dumped on the market to induce the sell-off- nearly twice US annual silver production of 36 million ounces!!

Must. Not. Allow. Silver. To. Close. Over. $35.
Perhaps there is something to those rumors of JP Morgan silver derivatives losses triggered with silver over $36?

 

Silver will be the first element in the periodic table to become extinct (shooting price per Oz. past Gold).

Besides Strontium (Sr), Silver (Ag) has the least amount of world reserves remaining. In a recent article on kitco commentaries, David Morgan put some highlights of what Adrian Douglas had stated in a recent interview about silver.
There’s very little left on the planet. The U.S. Geological Society said just a couple years ago that silver would be the first element in the periodic table that would become extinct. It’s incredibly bullish. The USGS said that would happen by 2020. So if we’re in the situation where we can run out of silver, the price clearly has to go up, because you can’t obviously run out of silver. What will happen is, the price will have to go to a price level where it’s economic to recycle it..
We have seen history in the making here. Normally whatever the government states, we know as of late is false. But here, we have some honesty from the USGS. Unfortunately, as energy becomes more expensive due to less net energy available due to a falling EROI ratio, even recycling will become expensive and prohibited. There will be plenty of challenges in the future for the modern technological society we live in as we transition to a world with less of everything right at the time when China and India are westernizing.

http://maxkeiser.com/2011/04/08/silver-will-be-the-first-element-in-the-periodic-table-to-become-extinct-shooting-price-per-oz-past-gold/ 

Harvey Organ: The Moment London is Out of Silver, the COMEX Will Be Out in a Nano-Second!

Harvey Organ joins us again for an explosive interview discussing this week’s breakout in gold and silver, the developing ‘TREMENDOUS PHYSICAL SHORTAGE‘ in the silver market, and concerns with unallocated gold and silver accounts, which Harvey describes as nothing but paper notes and obligations.
Harvey also discussed recent reports that the LBMA is refusing to deliver silver outside of the LBMA system: They won’t deliver it outside of the system because there is no silver!  That’s a real crisis!  The moment London is out of metal, the COMEX will be out in a nano-second!

Harvey also discusses Romney’s threat to fire Bernanke and what it means to Fed monetary policy prior to the elections, the Republican party’s announcement of the development of a ‘gold commission‘ with the goal of returning the US to a gold standard will be official Republican policy and MUCH MORE.
The Doc’s FULL MUST LISTEN interview with Harvey Organ below:

When asked about this week’s big moves in gold and silver and whether we are witnessing the start of a historic rally in the metals Harvey responded:
No question.  The key development that Ned Naylor-Leyland discovered is this big physical purchase of silver that had to be settled INSIDE of the LBMA.  They won’t deliver it outside of the system because there is no silver!  That’s a real crisis!   I’ve always advised the CFTC that the moment London is out of metal, the COMEX will be out in a nano-second!  It will travel across the pond as quickly as possible and could cause a default of the COMEX.
This is why you’re seeing massive movements of silver in the vaults, all over the place.   Every day there’s been over a million ounces moving around.  Whenever you start seeing that, then you know there’s trouble.   It’s Peter robbing Paul to pay somebody else.   It’s just going on, and on, and on, and it’s now coming home to roost.   And our friend the banks – JPM have their hands full!

Harvey goes on to discuss the physical shortage developing in the silver market:
Eric Sprott still hasn’t got his silver yet.  I can’t remember exactly how much, but he’s still short on his order.  He hasn’t completed it yet as of last week.  I’m telling you, there’s a TREMENDOUS PHYSICAL SHORTAGE out there, and it’s reflected in the price rising.  The price of silver has been closing at it’s highs at the COMEX close which is very positive.
Now I expect a little raid Friday.  The bankers are trying to quell the HUGE DEMAND so I expect a raid to try to smash the price down, because the shortfall for Morgan is just annihilating them!
They have problems on their interest rate swaps which are killing them!  They have $ Trillions of interest rate swaps and they’re short the 10 year T-bond.   That’s been hurting them because of the rate of movement of the yield caught them off guard.  They lost on that, they lost on their IG9 London Whale trade, and now the rise in silver.  That’s three whamo’s against them, and they’re sweating bullets!    It’s certainly reflecting now in the silver and gold price.


Harvey also discussed Ted Butler’s recent claims that the other commercial banks have turned on JP Morgan:
They’re all trying for their survival.  Ted Butler calls them the Raptors.  The two major guys in silver and gold are HSBC and JP Morgan.  They’re the Kingpins.  Now the other guys are saying ‘We’ve got to survive ourselves!’.    You can just see them going in themselves and purchasing!  And you’ll notice that on the COMEX the open interest has been trending different than gold!  The OI in gold is near it’s low for 3 years, yet the OI in silver is near it’s record high!  This will explain why there’s certain guys in the know who are taking on our boys, the two big guys.  It’s very exciting to watch!
The SLV went up for the first time in quite a while today, about a 1.5 million ounces!  The GLD has been rising every day.  I don’t think it’s real, it’s just paper going in, but that’s a different matter.  I’ve always stated that the GLD and SLV are absolute frauds!  If you open up their vaults, you’re going to see nothing but paper notes and obligations.  The poor shareholders are going to end up with nothing when this thing implodes!

Harvey also discusses Romney’s threat to fire Bernanke and what it means to Fed monetary policy prior to the elections, the Republican party’s announcement that a ‘gold commission’ to return the US to a gold standard will be official Republican policy and much more.


 http://www.silverdoctors.com/harvey-organ-the-moment-london-is-out-of-silver-the-comex-will-be-out-in-a-nano-second/

COMEX WAREHOUSE REGISTERED SILVER - AUGUST 2012

COMEX WAREHOUSE REGISTERED SILVER - AUGUST 2012