BrotherJohnF states silver has resumed its bull market, examines the current extraordinary technical fundamentals in silver, and discusses the US Mint’s shutdown of Silver Eagles production in his latest Silver Update:
Silver Glut?

SD Bullion

  1. The SLV doesn’t have to book inventory upon the day of delivery.  Who knows how long those stacks sat in the warehouse before somebody there decided to add it to the registered category.  Those 572 tons didn’t have to show up in a caravan all in one day either.  I do buy into the notion that inventories worldwide are starting to feel the squeeze.  The story about the SLV is a tempest in a tea pot.  Keep stacking. 

  2. I see something giving way shortly and I hope it’s to the upside. I also believe there are lots of people demanding delivery maybe that’s why the SLV is stocking up and 572 tons isn’t going to last to long. Lol

  3. That’s about 20 MOZ into the SLV.  Worth $600 million.  Is my math correct?  If so, how come it takes Sprott 3 months to acquire same amount?  SLV is a bogus scam with no silver. It’s gone forever, leased or sold to make money for the fund. Anyone in this scheme will probably wake up to this fact when silver shorts and COMEX have their day of reckoning. 

    • Math looks good to me.
       
      Agree that SLV is basically a magician’s trick with much hand waving as the distraction while tricks are being done by the less visible hand of JP Morgan.
       
      The thing that intrigues me about the Sprott silver purchases is that Sprott says the bars all bear production marks that show them to have been produced AFTER they were ordered.  Because of this, it is clear that this silver did not come from some giant bullion bank hoard.  Once Sprott’s order was placed, THEN the bars were produced to fill it.  Given that, no wonder it takes him 2-3 months to get an order completed.
       

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