http://silverdoctors.blogspot.com/2011/11/brinks-loses-nearly-34-million-ounces.html Can't post prcis as I'm ballooning... x
Source: http://1.bp.blogspot.com/_fr44lIzC03k/TKHlkPAndSI/AAAAAAAACKQ/6APOPixKb94/s400/balloon+poodle.jpg or Source: http://dumree.com/wp-content/uploads/2009/07/gimp-suit-220x275.jpg
"With the Veteran's Day holiday over, massive volatility returned to COMEX silver warehouse vaults Monday, with several large withdrawals to report." Who is withdrawing and why? TIA.
And on Weds night Brinks ADDS 1.1M ounces.... I think what we're seeing as someone on KWN suggested (Sprott maybe?) was the expected rush for phyzz as everyone realises SLV & GLD aren't worth a pigeon poop.... http://silverdoctors.blogspot.com/2011/11/brinks-adds-over-11-million-ounces-of.html x
I should have told you guys yesterday that I was buying then you would have know this drop was imminent :/
Does this recent drop have much to do with the link in the OP? That is: when JPM withdraws a shiteload, can we always expect spot to tank?
I think it really reflects the disconnect between phys & paper - there are maybe, what... 350M oz of actual refined silver out there - possibly 400M oz... but if you sell enough paper silver contracts, each for 5000oz and you sell 100,000 in ONE day - that's 500M oz... In other words whilst there's all this paper floating about in the control of JPM mainly, we're always going to be at the mercy of their 'churn'. It'll end though. Eventually. You have to ask yourself why JPM's been accumulating all this phys metal recently - silver, platinum, copper... maybe it's off the cliff time to pick up more dirt-cheap & then go long? We shall see.
