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Thread: COMEX silver raid following 2.4 million ounce warehouse withdrawal

  1. #1

    Default COMEX silver raid following 2.4 million ounce warehouse withdrawal

    http://www.silverdoctors.com/2-4-mil...-comex-stocks/

    By SD Contributor SRSrocco:

    BIG SILVER TAKE DOWN THE DAY AFTER 2.4 M OZ TAKE DOWN OF COMEX SILVER STOCKS

    How interesting that silver was treated to a $1 waterfall takedown today, the DAY AFTER 2.4 million physical ounces of silver were withdrawn from COMEX vaults!




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  3. #2

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    Is this like that raid that happened to that Van Notthaus guy?

  4. #3
    Site Staff - Moderator Brian4Liberty's Avatar
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    Who withdrew the silver? Wasn't there a recent story about the German Central bank taking their bullion out of US storage and moving it back to Germany?

    Edit: story was about Gold bullion.

    http://www.resourceinvestor.com/2012...recious-metals
    Last edited by Brian4Liberty; 11-29-2012 at 12:22 AM.
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    Site Staff - Moderator Brian4Liberty's Avatar
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    bump
    Twitter: B4Liberty@USAB4L
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  6. #5

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    Is there another source for this?


    Also this is why you shouldn't own stocks in PMs, you shouldn't own certificates, you shouldn't have people store it for you, you should only posess the bullion yourself. One exception is to hold it offshore, but to ensure that it's held in a bag with your name on it so they can't lend it out (no fractional reserve banking).
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  7. #6

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    I don't understand, and reading the entire message board, I still did not get it. What is the link between 2.4M physical being taken out of the vaults, and the attempt to drive down prices?

    Are they saying JPM is trying to tank the price, so people will demand less physical?

  8. #7

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    Quote Originally Posted by UWDude View Post
    I don't understand, and reading the entire message board, I still did not get it. What is the link between 2.4M physical being taken out of the vaults, and the attempt to drive down prices?

    Are they saying JPM is trying to tank the price, so people will demand less physical?
    Did you read the link to TFMetals blog? This explains it better than most of us could.

    http://www.tfmetalsreport.com/blog/4336/shakeout?page=1

    In short, it's about controlling futures contract prices and support levels. Ive noticed there's been considerable pressure to keep silver below $35/oz.
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  9. #8

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    Quote Originally Posted by devil21 View Post
    Ive noticed there's been considerable pressure to keep silver below $35/oz.
    Above $36 for 90 days is purportedly the condition that would sink JPM.
    “If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”

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  10. #9
    Member John F Kennedy III's Avatar
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    Quote Originally Posted by thoughtomator View Post
    Above $36 for 90 days is purportedly the condition that would sink JPM.
    How can we help?
    Quote Originally Posted by Origanalist View Post
    There would be riots in the streets, if boobus gave one shit about his honor.
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  11. #10

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    Quote Originally Posted by UWDude View Post
    I don't understand, and reading the entire message board, I still did not get it. What is the link between 2.4M physical being taken out of the vaults, and the attempt to drive down prices?

    Are they saying JPM is trying to tank the price, so people will demand less physical?
    well think of it this way... if silver is driving up in price people will flock to buy more... if its going down in price then people can get scared that they will lose their money and will sell to retain any profits.. they do this stuff in the stock market everyday
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  12. #11

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    Quote Originally Posted by Matt Collins View Post
    Is there another source for this?


    Also this is why you shouldn't own stocks in PMs, you shouldn't own certificates, you shouldn't have people store it for you, you should only posess the bullion yourself. One exception is to hold it offshore, but to ensure that it's held in a bag with your name on it so they can't lend it out (no fractional reserve banking).
    Do you approve of BullionVault's operation?

  13. #12

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    Sure the morgue is probably pushing around the price, but why should rp supporters get angry? A price supression scheme is the best gift a pm investor could ever have. We all know the end game is silver in the 100's and gld over 5k, so why the anger toward the jp morgue? Hopefully they can successfully keep the price down. That way I can accumulate more physical.

  14. #13

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    Quote Originally Posted by John F Kennedy III View Post
    How can we help?
    Buy physical silver, take delivery.
    “If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”

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  15. #14

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    Another big silver beatdown today, while pretty much no other asset classes were touched. Hmmm.
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  16. #15

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    Yeah. they did it at the end of the week this time, so it could not bounce back. They are hoping it will be the price at open on Monday. A smart move, we will see if it holds.

  17. #16

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    China says;

    "Fank you vewy much mista Dimon."

    Quote Originally Posted by UWDude View Post
    Yeah. they did it at the end of the week this time, so it could not bounce back. They are hoping it will be the price at open on Monday. A smart move, we will see if it holds.
    "Like an army falling, one by one by one" - Linkin Park

  18. #17

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    Quote Originally Posted by Seraphim View Post
    China says;

    "Fank you vewy much mista Dimon."
    The pendulum is swinging big time, in a world being turned upside down. I have a Dutch expat friend living in Shanghai now who just told me he has an account with ICBC that is denominated in and backed directly by silver, and another one in gold. I had to look up the words Land of the Free and the Home of the Brave again, just to see if I missed something along the way.

  19. #18

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    On a positive note, the raids are becoming less effective. The drops are smaller and short-lived as others step in to buy the dip. Remember when silver got knocked down for like $5 in two days early last year? Those sort of raids look almost impossible now.
    "Let it not be said that we did nothing." - Ron Paul

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  20. #19

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    Quote Originally Posted by devil21 View Post
    Another big silver beatdown today, while pretty much no other asset classes were touched. Hmmm.
    Today was first notice for delivery...employment figures next friday will be the next smackdown.

  21. #20

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    Quote Originally Posted by jclay2 View Post
    Sure the morgue is probably pushing around the price, but why should rp supporters get angry? A price supression scheme is the best gift a pm investor could ever have. We all know the end game is silver in the 100's and gld over 5k, so why the anger toward the jp morgue? Hopefully they can successfully keep the price down. That way I can accumulate more physical.
    Not all of us buy only physical...I buy phys and I trade options/futures, and I loath JPM's manipulation...lost $500 today...
    Last edited by DFF; 11-30-2012 at 08:35 PM.

  22. #21

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    Quote Originally Posted by devil21 View Post
    On a positive note, the raids are becoming less effective. The drops are smaller and short-lived as others step in to buy the dip. Remember when silver got knocked down for like $5 in two days early last year? Those sort of raids look almost impossible now.
    This is the most important sign to take away.

    The raids are becoming less effective!

    The buying pressure is also waaay to great in the low 30s for silver to dip much farther than that.

    The technicals still look fantastic on silver, I think one sign that's becoming obvious with the manipulation is that:
    A) They tend to crash silver on Fridays
    B) They always crash it at the end of the month


    I'm still very confident that we will see $36 silver by the end of the year.
    It's just an opinion... man...

  23. #22

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    Quote Originally Posted by DFF View Post
    Not all of us buy only physical...I buy phys and I trade options/futures, and I loath JPM's manipulation...lost $500 today...
    If you'd followed my handy rule to buy below $33 and sell above $34 you would have made a mint these past few months daytrading options.
    “If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”

    - SAMUEL ADAMS

  24. #23

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    Quote Originally Posted by DFF View Post
    Not all of us buy only physical...I buy phys and I trade options/futures, and I loath JPM's manipulation...lost $500 today...
    Meh, if you aren't buying physical, you aren't really an ally in this fight. A lot of us buy physical for more than safety and profit, we buy it because we know it is one of the free market lynchpins that will destroy the fed. And we know the more awake people who buy and hold silver, the faster the downfall will happen.

  25. #24
    Member John F Kennedy III's Avatar
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    Quote Originally Posted by jclay2 View Post
    Sure the morgue is probably pushing around the price, but why should rp supporters get angry? A price supression scheme is the best gift a pm investor could ever have. We all know the end game is silver in the 100's and gld over 5k, so why the anger toward the jp morgue? Hopefully they can successfully keep the price down. That way I can accumulate more physical.
    This is true. So I want one of 2 things to happen:

    1. $5 silver

    2. We cause and sustain the condition needed to destroy JPM.

    I wish I was born 15 years earlier or knew this stuff when I was 10. 15 years ago silver MIGHT HAVE BEEN $3-4 an ounce.
    Quote Originally Posted by Origanalist View Post
    There would be riots in the streets, if boobus gave one shit about his honor.
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    Member John F Kennedy III's Avatar
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    Quote Originally Posted by thoughtomator View Post
    Buy physical silver, take delivery.
    That's the plan when I get the FRNs. Everyone who buys PMs should do the same.
    Quote Originally Posted by Origanalist View Post
    There would be riots in the streets, if boobus gave one shit about his honor.
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  27. #26

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    Quote Originally Posted by John F Kennedy III View Post
    That's the plan when I get the FRNs. Everyone who buys PMs should do the same.
    Especially before all the big boys clean out the inventories.

    http://www.zerohedge.com/news/2012-1...ing-possession
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  28. #27

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    Additionally:

    http://www.zerohedge.com/news/2012-1...bernanke-night


    Generally when gold behaves in a certain way, silver follows soon thereafter. That is a parabolic spike in gold coin demand from the treasury. That spike will almost definately occur for silver. And soon.

    Quote Originally Posted by devil21 View Post
    Especially before all the big boys clean out the inventories.

    http://www.zerohedge.com/news/2012-1...ing-possession
    "Like an army falling, one by one by one" - Linkin Park

  29. #28

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    SOMEBODY just shorted 5 thousand silver futes...I guess it was to get the best price in afterhours

  30. #29

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    In related news...

    CME Declares Force Majeure at Manhattan Gold Depository

    Read more: http://www.foxbusiness.com/news/2012...#ixzz2E3yjqrxa
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