From SRSrocco:

The physical silver scramble continues, as a MASSIVE 2.4 million ounces of silver were withdrawn from Brink’s & HSBC vaults Wednesday!Got PHYZZ??

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    • My thought exactly!  It is interesting to know where it came from but knowing where it is going would be really informative, IMO.

      First thing I thought of was, “Did Eric Sprott buy another couple of million ounces for his silver trust?”.  Hmmm… maybe.  Could also be silver that is being shipped to Asia, to various mints, or even to various manufacturers who supposedly can’t live without the shiny stuff. Maybe The Doc will come up with some way to track where all these BIG silver withdrawals are going.  Now that would be of considerable interest to all of us.   

  1. Question…It seems every other month or so there has been 1-3 million ounces of registered silver withdrawn or appx 10-20% of what they say they have.  This has been going on for a couple of years.  So, are they any closer to running out?

  2. Methinks this silver is going east.  The London silver is in short supply according to some in the know.  The silver that moves out is destined for China and India who are buying 40% of the entire 2012 worldwide production.  Harvey Organ makes some comments on this too.

    • Maybe you’re right since China and India’s demands for physical silver is very big. Because of the huge demands, there aren’t enough physical to recover that so the bullion banks are selling their silver in secret. There are a lot of reasons.

  3. Everyone talks about a tight supply and scrambling for silver but anyone who puts in an order of any size, always receives their silver. When Sprott puts in these huge orders and he gets it within 2 to 3 months along with all the other orders in between getting filled it doesnt spell a shortage to me.

    • There is a lot of other data out there that does spell this out when it is all added together.  No single part of it does, though.  The most telling is the fact that worldwide silver consumption is increasing at the same time that grams of silver per ton of ore is decreasing.  At some point on the graph, these lines HAVE to cross.  No telling when, though.
       

    • when andrew macguire attempted to receive delivery of physical silver of several million $ worth for his client, we was denied, and was told that he could not receive delivery to ouside the LBMA system. further, he was told that a small market like silver was “not appropriate” for someone looking to invest in the million dollar plus range.
       

    • Silver might not be in a short supply right now but it will soon because its above ground supplies are diminishing, its demands are growing and it is one of the most manipulated commodity in the markets. You just wait and see for the shortage to happen! ;)
       

  4. The thing that tweaks me is the ability of the SLV and GLD ETF to acquire hundreds of tons of silver and tons of gold  in the low double digits.   They seem to be able to do this on a daily basis 
    Now don’t get me wrong; I’m a believer.  I really believe what they say. I’m not a sceptic or anything like that.  It just stikes me as weird that they can buy gold and silver easily when everyone else has great trouble to the extent of their ability the same stocks of PMs.  China seems to be able to acquire same  tonnages  that we can only dream of.  Either GLD and SLV are lying through their teeth and China is buying up the world of PMs or China has some real problems.  Me thinks its the ETF that are full of BS and post it notes.  Harvey Organ agrees.

    • Trick is, AG, when we read about all this silver movement, we do not know if this is physical silver or paper / electronic silver.  A vault can show millions of silver ounces on their inventory but do we really know whether they actually have real metal or if it is simply a “silver asset” that someone owes them… as in some rehypothecated drek that is absolutely worthless?

  5. Soros and Paulson will be seriously pissed if they find their investments in GLD, Soros just added 50% to his nearly $1 billion, and Paulson with his multi billion dollar holdings, are air.  I know that you can redeem your GLD  for the real thing if you own sufficient shares.  I just don’t see Soros going to Xi Pinling, begging cup in hand, asking for his gold.  Actually that would be a very funny picture, but I’m an SOB when it comes to seeing someone like Soros getting screwed.

    • If there is any justice in the hereafter, Soros will meet Vlad the Impaler… and you just don’t mess with anyone who has “the” as a middle name!  :-D

      Soros and Paulson are the kind of guys whose trucks will be at the loading docks emptying out the SLV and GLD vaults of real phyzz while the small customers will be pounding on the locked front doors, trying to get in.  They WILL get physical metal for their shares, unlike the rest of the “customers”.

  6. back in 2010 the silver inventory is also lower than today in 2012


     

    COMEX Warehouse Stocks June 4, 2010

    SILVER

    ZERO ozs withdrawn from the dealer’s (registered) inventory 
    574,293 ozs deposited in the customer (eligible) inventory 
    Total dealer inventory 52.46 Mozs 
    Total customer inventory 65.46 Mozs 
    Combined Total 117.92 Mozs

    GOLD

    ZERO ozs withdrawn from the dealers (registered) category 
    ZERO ozs withdrawn from the customer (eligible) category 
    Total dealer inventory 3.24 Mozs 
    Total customer inventory 7.49 Mozs 
    Combined Total 10.74 Mozs

    http://harveyorgan.blogspot.sg/2010/06/commentary-june-52010very-important.html

  7. It looks like a lot of people are getting aware of things around them and they are starting to understand the meaning of “If you don’t hold it, you don’t own it”. I wonder if there are enough physical silver inside the vaults to cover up the demands and if not, then where would the bullion banks get the physicals?

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