Short sellers for Gold at $2000/ounce, the bankers are bankrupt. Ha..Ha..
Physical Gold and Silver shortage
- Thread starter pmbug
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Short sellers for Gold at $2000/ounce, the bankers are bankrupt. Ha..Ha..
Oyarde, Gold reached $2970/ounce. Oyarde invested all his money in Gold. He made big profits
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There's always been a shortage, just masking it through the futures market.
In India, they were importing and MELTING so much gold, they had to come up with a ponzi scheme.
They got the population to deposit their gold in exchange for interest.
The gold is then melted and resold into the market.
It's fractional reserve banking.
In India, they were importing and MELTING so much gold, they had to come up with a ponzi scheme.
They got the population to deposit their gold in exchange for interest.
The gold is then melted and resold into the market.
It's fractional reserve banking.
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At one time, PSLV was supposedly separate and held at the Royal Canadian Mint.
Of course they would never really have any separation from London.
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pmbug
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I wrote an article about the state of the silver market and the new #silversqueeze 2.0 efforts:
www.pmbug.com
Silver Squeeze 2.0 Comprehensive Thesis
Last night, I participated in an impromptu, late night Spaces on X hosted by SilverDegen and (at various times) 20-40 members of the X #silversqueeze community. At the start of the session, some folks were asking some very basic questions and it occurred to me that there are a lot of people...
- Joined
- Jul 13, 2007
- Messages
- 62,355
I wrote an article about the state of the silver market and the new #silversqueeze 2.0 efforts:
Silver Squeeze 2.0 Comprehensive Thesis
Last night, I participated in an impromptu, late night Spaces on X hosted by SilverDegen and (at various times) 20-40 members of the X #silversqueeze community. At the start of the session, some folks were asking some very basic questions and it occurred to me that there are a lot of people...
"COMEX shorts won't be able to play completely naked (hedged only with LBMA paper) after July."
Good old naked shorts. A time honored tradition in the metals markets.
"The LBMA's position is that every troy ounce of metal in their vaults is free float - including allocated metal owned by ETFs, central banks and anyone else. Yikes."
Yikes, indeed. Do we still trust PSLV?
"This will leave COMEX shorts exposed to high risk of not being able to cover short positions. Either the COMEX shorts will have to find unobtanium or unwind their shorts."
Failure to deliver. My personal hypothesis has long been that when a FTD arises, it is settled with a little bit of paper premium. In other words, instead of delivering the physical metal, they deliver the promised price + some extra money (bribe).
pmbug
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PSLV uses the Royal Canadian Mint to custody their silver. Supposedly all or almost all of their silver is stored in vaults in Canada, not in the LBMA system. I have not yet been able to get a definitive answer on this point though.
pmbug
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First Mint made a special silver cube to commemorate today's #silversqueeze effort:
Only 2,025 mintage. They are being sold at spot. Ordering page is password protected - the offering was exclusive to the X #silversqueeze community. I have permission to share details privately with pmbug.com members.
Only 2,025 mintage. They are being sold at spot. Ordering page is password protected - the offering was exclusive to the X #silversqueeze community. I have permission to share details privately with pmbug.com members.
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