Submitted by SD Contributor SRSrocco:

The latest USGS monthly Silver Commodity Update IS AN ABSOLUTE SHOCKER.  If we take a look at the difference in silver exports from just June to July, we can see that a staggering 169 metric tonnes of silver was sent to the United Kingdom back in JulyThis is a 5.4 million ounce transfer of silver to the U.K in just one month:

If you notice, you will see that the normal amount of silver that has been moved per month to several different countries is in the 30,000 kg or 30 metric tonnes.  However, in July the U.S. exported 169,ooo kgs. or 169 metric tonnes to the U.K.   Looks like there has been some serious silver being transfered to the LBMA in London.

Lastly, of the total 587 metric tonnes of silver bullion exported between Jan-July of 2012, 169 metric tonnes or 29% of the total silver exports took place in one month… and to one country…. U.K.

 

 

  1. The U.S. produces about 35 million ounces a year of silver. Around 26 million Silver Eagles have already been sold this year and with two and a half months still to go so total sales should take it above 30 million. Therefore it’s very unlikely that any US domestic silver production is available  for export.
    Therefore where did the US get their silver from to export to London? Is there a table of US silver imports? How much silver refining goes on in the USA or does that mainly occur in China? Would Mexico be a primary source of silver for the USA?
     

    • I also heard somewhere on YouTube and other websites that the US Mint gets their rounds from the Sunshine Mint which is an American company and they get their silver from Mexican silver mines.

  2. Harvey always says the fizz is sent to London to put out fires over there.  The main physical market is in London.  The bozos need very little silver at the Crimex since most contracts are just rolled over or cash settled.  Or maybe a lot of the “deliveries” on the Crimex are mere paper entries.  It is when London cannot deliver on physical orders to be delivered outside the LBMA that we will have a commercial signal failure and the Crimex will default in a nanosecond, and it is game over.  Until then the Crimex price smashes will continue.  This I have learned from being one of “Harvey’s sheep” for the last couple of years.   

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