Comex Registered Fall off CliffCOMEX registered silver inventories have fallen off the proverbial cliff this week, as registered supplies have dropped a massive 10% in the last 48 hours! 
Nearly 4 million ounces of physical metal has vaporized from COMEX vaults as the rush to physical intensifies in the wake of the Cyprus bail-in wealth confiscation as news has spread that nations the Western world over are preparing to shove the next banking crisis down the throats of depositors.


2013 Silver Eagles As Low As $3.25 Over Spot at SDBullion!

From SRSrocco:

Comex Registered Fall off Cliff


10ozntr ban

    • If my math is correct, 1 billion oz. of above ground physical silver = $30 billion market. 
      Apple market cap = $500 billion (16 times bigger than silver market, and that is one stock).  
      What if 5% of Apple sheeple sold $25 billion and tried to buy physical silver?
      Total deposits at top 25 USA banks = $5,000 billion (166 times bigger than silver market)
      What if 5% of USA depositor sheep withdrew $250 billion and tried to buy physical silver?
      Total market cap of S&P 500 = $13,000 billion (433 times bigger than silver market).  And that is only the top 500 stocks in the USA alone.
      What if 5% of stock holding sheeple sold their S&P 500 stocks for $650 billion and tried to buy physical silver?
      Total USA bond market = $30,000 billion (1,000 times bigger than silver market).
      What if 5% of bond holding muppets withdrew $1,500 billion and tried to buy physical silver?

      Answer: you would have $2,500 billion chasing 1 billion oz. of silver. Let us not forget that as recently as 1980 almost 5% of the world’s wealth was held in gold and silver. $2,500 per ounce anyone?

  1. Don’t be over enthusiastic, such moves are quite frequent, just google comex registered silver inventory and click the first link on You will see that such moves are quite normal and that the inventory actually grew between July 2011 and now.

    • With the most humble of respect, unless you are a vault monkey you don’t know if that is physical are paper increase.

  2. There is plenty of physical silver available to meet physical needs, that is why silver is at 27 oz.  Inventory shortages get fixed when new production comes into market,  shortages to not last long unless there is constant buying. Why is that so difficult for so many to understand?
    If constant buying is maintained the price will go higher, higher prices causes new selling, thus more available inventory.
    I am not talking about the paper markets, physical buyers is the only thing that counts, paper markets only can lower the price when there is plenty of silver available, which is the case today.

    • Than why does silver sell with such a high premium? Silver has been in backwardation for over two years. If there was soo much silver available I’m sure dealers would sell much closer to spot. Wouldn’t you?

    • “If constant buying is maintained the price will go higher, higher prices causes new selling, thus more available inventory.”
      You’ve got it backwards.  As the price goes higher, people are less likely to sell.  They short the paper markets to drive the price down, which in turn causes more people to sell.

    • Looks like we have picked up a couple of trolls (didi and zman) … further evidence for S about to HTF. Keep Stacking and top off your preps. Thanks guys for the confirmation 🙂

  3. From his mouth to our ears…
    Eurogroup head Jeroen Dijsselbloem has sent the euro tumbling by declaring that the Cyprus rescue should be seen as a template for the rest of the eurozone.
    A rescue programme agreed for Cyprus on Monday represents a new template for resolving euro zone banking problems and other countries may have to restructure their banking sectors, the head of the region’s finance ministers said.
    “What we’ve done last night is what I call pushing back the risks.
    If there is a risk in a bank, our first question should be ‘Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?’.
    If the bank can’t do it, then we’ll talk to the shareholders and the bondholders, we’ll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.
    If we want to have a healthy, sound financial sector, the only way is to say, ‘Look, there where you take on the risks, you must deal with them, and if you can’t deal with them, then you shouldn’t have taken them on….
    The consequences may be that it’s the end of story, and that is an approach that I think, now that we are out of the heat of the crisis, we should take.
    It means deal with it before you get in trouble. Strengthen your banks, fix your balance sheets and realise that if a bank gets in trouble, the response will no longer automatically be that we’ll come and take away your problem. We’re going to push them back. That’s the first response we need. Push them back. You deal with them.
    We should aim at a situation where we will never need to even consider direct recapitalisation.
    If we have even more instruments in terms of bail-in and how far we can go on bail-in, the need for direct recap will become smaller and smaller.
    I think the approach needs to be, let’s deal with the banks within the banks first, before looking at public money or any other instrument coming from the public side. Banks should basically be able to save themselves, or at least restructure or recapitalise themselves as far as possible.”
    “Now we’re going down the bail-in track and I’m pretty confident that the markets will see this as a sensible, very concentrated and direct approach instead of a more general approach,” 
    It will force all financial institutions, as well as investors, to think about the risks they are taking on because they will now have to realise that it may also hurt them. The risks might come towards them.”

  4. Dealer premiums change from week to week, I don’t think it’s that big of a deal.  The day heavy physical buying of silver takes place, the price will move higher, until then, we are stuck in the mud.

  5. Eagles sales are better than they have been, but 16 million ozs YTD is not that much in a 800-1000 million oz yearly global market. 
    I can bet that once silver hits 35oz, many investors will be selling into higher prices, thus available inventory once again, don’t fool yourselves.

  6. Guys, I am not a troll, I am being realistic.  Physcial demand can break any paper manipulation, and it may happen at some point down the road, when?  Maybe 2 months, 2 years, or maybe never. 
    It wouldn’t even take that much money to enter the physical silver market to make a rocket ship, the point being, it has not happened, not even close.
    Most silver longs are in the paper market, they are not silver investors, they are paper investors, they do NOT buy physcial silver.
    If investors ever decided to take physical silver,inventory shortages would occur, until then, we live with 27 oz silver prices.
    Maybe people from around the world could buy physical silver, people from China, India, Brazil, Russia, US, Mexico, UK, Europe, ect. It could over power paper market, it has not happened, it may never happen, time will tell.

    • ‘it may never happen’   …..    if this is what you believe, you would not be visiting silverdoctors, troll
      When the dollar / debt bubble bursts, which will be soon, there will be an acute shortage of resources, and millions of people will die. That is when all paper-based assets will vaporise, and PMs will be money. And, that is when you better have protection, stored food, stored water, medicines, etc. Gregory Mannarino explains it best …
      But this is not for the troll, because he/she already knows this

    • Have you ever studied sovereign debt defaults?  Countries are fine until they are not.  Yields rise rapidly.  It happens very quickly.  The same can be said with the metal’s inventory in the Comex.  Have you see the open interest in silver lately?
      This is from Harvey Organ today.
      The total silver comex OI continues to astound to our bankers.  Here the total OI for the silver complex rose again  by a gigantic 4,380 contracts from  162,241 all the way up to 166,62 despite the huge drop in silver price yesterday.  Needless to say we are again at record multi year levels in silver OI.
      We are at a multi year highs for open interest for silver and it rose huge with these smash downs.  That is a huge red flag.  That means that the people who hold these positions have very deep pockets and can take huge losses.  Price really doesn’t matter.  They want the metal.  Why hasn’t their been a increase in margins lately?  IMO, it would be a waste of time.  Nothing will make these players pitch their contracts.  It has been a steady increase.  Nothing shocking but just a nice pace of longs going into silver.  One of these months, they will call for delivery.  When?  I really don’t know but when they do, look out.   I brought up sovereign debt defaults because the action will be similar in the Comex. 

    • “‘it may never happen’   …..    if this is what you believe, you would not be visiting silverdoctors
      Hey Chief (that works), he is welcome to visit and comment at Silverdoctors even if he hedges that ‘it might not happen‘. No everyone MUST feel as though it is inevitable. Lighten up and stop the name calling. It’s okay to disagree – don’t take it personal.

    • When the dollar / debt bubble bursts, which will be soon, there will be an acute shortage of resources, and millions of people will die…

      Let’s try a different flavor of KoolAid. Firstly, while I can’t outright dismiss your assertions – I do dispute that you can know when (“soon“) or how many will suffer. If you are trusting these PM pundits – recall that ‘they‘ have been nothing but incorrect in the past few years. I suggest to you that there is a possible solution that is staring us in the face.

      The whole Krugman platinum coin childishness was a hidden clue. After he suggested it, I wrote an email contemplating that CB’s could secretly hoard Platinum and revalue it to pay debt (All the Pt in the world can fit inside my modest basement!). Only one big problem – Platinum is ‘used‘ (pacemakers , Catalytic converters etc.) so if an ounce was revalued (forcing the Market unnaturally, btw – I know, they’d NEVER do anything like that 🙂 ) to, say, a million USD an ounce (to pay the deficit), even the small amounts in industrial use would be enough to encourage possible looting, stealing… even murder. So what, the heck, can you use? What is, essentially, useless, Mr.Aristotle?

      You got it.

      How could this be done? Create a huge paper market that can suppress the AU price so it could not create any type of panic flight out of the USD. Crush the majority of miners prior to Nationalization. Then, when the time is right (and that DOES appear to be now) collapse the paper market as the economy shrinks. When you do this – what will happen? Physical Gold will dry-up. After a time – do some bogus revaluations (say $20K an ounce) and get all the weak-handed scrap etc. DON’T SELL, boys. Eventually it will be revalued high enough for sovereigns to pay their dept – after all, aside from outrageous debt – what do they have? yes – tons of Gold. At $50K an ounce the US (even if they have half of what they claim) will be able to run their country for another 50 years. I suspect it will be officially revalued much higher.

      …and PMs will be money.

      I don’t see how, Chief. As in other Hyperinflations – the masses will be given, yet, another form of paper money (think simply adding a zero) or, in this day and age, a new digital currency. Decades of conditioning will win out over the logic that you guys have awoken to (hard money). The masses are zombie robots – discuss amongst yourselves. I expect you all realize this…

      And what of Gold? It will relieve paper of its SoV (Store of Value) function, while keeping its UoA (Unit of Account) and MoV (Medium of Exchange). Gold will be used for international trade (Oil, Oil, Oil) – kinda happening now – since Sovereigns will no longer trust each other’s paper. I doubt the US will do this willingly, it will be forced on its knees. If your country loses Oil – it devolves pretty quickly. They can’t let it get to that stage as it is not in their best interests. Don’t buy into the Nat Gas, Shale propaganda…
      Google #Freegold for more…

    • @DVDBeaver … OK, so please tell us your attitude to those who are PAID to post misinformation on key sites around the internet, to mislead those poor people who are confused, who do not understand that they and their families are about to be slaughtered financially and later literally?

      What do YOU do about it when you see these misinformation spreaders?

      Surely it behoves those who are in the know and who will be one of the few who survive this cataclysm due to their understanding, to help those who cannot see the truth? Or maybe you believe different?

    • <Or maybe you believe different?>

      Maybe I do…

      <What do YOU do about it when you see these misinformation spreaders?>

      Like you, Chief – I have my own opinions. Largely I ignore people who have an axe to grind – people like Stewart Thompson who is posted in this Forum. (add Sinclair, Sprott all of KWN et all) But I only know of one who doesn’t have some ulterior reason – FoFoA. He is using the words of ‘Another’ and ‘FoA’ from the old GoldUSA Forum form 15+ years ago. No one has been more correct and he has predicted what we are seeing right NOW.

      My only difference from most of you is that I see the decline in paper Gold as a huge positive foreseeing the conclusion. We are all PGAs (Physical Gold Advocates). My other difference is that I don’t see Silver (or platinum or copper) as being a part of the eventual revaluation. CBs don’t hold it – and despite the injustice of it all – I don’t see the CBs going ANYWHERE (no matter how hard you shake your fists) There is a reason they are buying Gold right now and why GLD is shrinking over the past 90 days. Don’t worry about the price in phoney USDs – measure your wealth in ounces…

      Mary said “When the Comex Breaks…” Why do you guys think this will happen? NO ONE requests delivery – I agree with Sinclair “No one want to be Hunt’ed” (as in the Hunt brothers). If Silver shot up to $35, then dropped back to $34 – you’d see a deluge of physical selling. Gold has always been a different animal. I’d make sure you have some Gold, guys… that is my opinion.

      Best of luck to all in these Koyannisquatsi times we are living in…

  7. Against all logic – shortage of supply (scarcity) is not always an indication the price will rise. It is all about the flow and, while Silver flows, Gold is still. In the equation MV = PQ where M= money supply, V= the velocity of money, P=prices, Q=quantity of production or activity. It is not the money supply that is the issue (as many perceive) – it is the velocity. Consider this with Silver. 3 weeks ago when I went to a local coin store to buy some Gold – there were lineups of people selling Silver (LINEUPS!) If I were you I would stop going by coin sales as – if it were a big factor – it would have affected already. The paper markets of PMs are 100X bigger than the physical – so expect lack of availability while the price remains modest. As the paper price has a loss of confidence – expect many miners to go bankrupt. Expect things to continue with nothing breaking – they appear to have everything under control (why not? they have an unlimited wallet).
    Where Sinclair hints at getting ‘it’, so is Turd:
    Well, let’s look at GLD’s little brother, the SLV. On 1/2/13, the SLV reported an “inventory” of 10,084.96 metric tonnes of silver. As of last night, the SLV showed an “inventory” of 10,497.59 metric tonnes of silver, UP 412.63 metric tonnes YTD or almost 4%. WHAT?? Wait a second. That can’t be right. My math must be wrong. GLD has shed 166 metric tonnes of gold YTD…more than the entire holdings of Thailand or Singapore…but, over the same time period, the “inventory” of the SLV has grown?? YEP!”
    I suspect this is what to look at not coin sales or Paper Comex (no one takes delivery!)… The shortage will definitely appear in Gold… as for silver? – I’m less sure. We could still have a physical shortage for months without a paper price increase. A black market will form (if you have a ‘guy’ – great…if you don’t – ‘get one’) with hefty premiums. Eventually, I expect a revaluation.
    Funny my son’s friend’s parents were over last Friday. They are mainland Chinese – rough English but very nice people. So I said “They encourage you to buy Gold, right?” – the mother rolled her eyes and said “yes… but you can’t get any” “Why” I asked. She said “…the lineups are too long“… LOL how different from North America where people line up to sell Silver…
    Best of luck,

    • @canadianstacker I agree with you that there’s too much paper silver out there are alot less physical. But as far as premiums go, most bullion coins only are a few dollars over spot at most. A dealer is only making a dollar or two per coin, he needs to make a profit…

    • @Mammoth Haha about the craigslist people. I used to sell on craigslist and I would bump into lowballers like that all the time. One time I had a guy tell me that a 1 oz american eagle is only worth a dollar because the denomination was $1. He offered me about half the price of spot at the time. Craigslist is filled with unemployed people looking to buy silver under spot that’s why I stopped selling on there.

  8. For your reading entertainment…
    So I’ve been selling some of my stack – at MY prices mind you.  ‘Take it or leave it’ is my attitude.
    But I still keep getting low-ball offers.  Here is one email exchange:
    “Hi There,
    interested in some of your coins.

    Value on the silver quarters and halves are the spot silver price.  I’ll give you right at spot for those items.  that’ll save you Ebay’s cut or any rare coin shop’s cut.  
    Quarters are worth $5.06 each
    Halves are worth $10.13 each 
    let me know if you’re interested in those.

    –  –  –  –  –  –
    Here is my reply:
    No you asshole, I am NOT interested in your ridiculous offer.
    The value of REAL silver is not the same as the spot price for imaginary paper-silver.
    You can go and shove the spot price up your ass.
    In case any of you are able to explain to this idiot better than I can, the value of physical silver, be my guest.  Here is his contact information:
    Henry Wasenmiller <[email protected]>

  9. Mammoth  I fully intend to use your wording when some schmuck comes up to my table at the show and runs that crap
    “You paid $10  admission and waited in line for 2 hours. Ammo is 100-200% more than 5 months ago and you are going to quibble with me over spot price.  Try that will the ammo guy over against the back wall and see how that works out.  It you quibble again I will double the price.”

    • @AGXIIK, or you may put some polish on that turd I offered:
      “Thanks, but I am having NO problems selling these for my asking price.  The price for Silver which you can hold in your hand – has diverged from the ‘paper-price,’ and only the ignorant & desperate people will sell you their Silver for the spot price.”
      But don’t these Silver Dollars and rounds look pretty?  Five years from now you will be calling yourself a genius for having the foresight to buy these from me today!”

    • “Five years from now you will be calling yourself a genius for having the foresight to buy these from me today!”
      To which he then says, “And you will be kicking yourself for having sold them!”.  😉

  10. Any updates on the stock levels?
    What commodities are all traded onAny COMEX? 

    Could the Asian markets take over this role? Is a scenario available for price discovery when COMEX is offline? Surely HonKong and Shanghai could do this, all with paper as preferred?

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