Backwardation and the fall of the bankers

Discussion in 'Commodity Futures' started by peilthetraveler, Feb 19, 2011.

  1. **Message to the mods...please dont throw this into metals...this is economic news.**

    There are over 150,000 open interest silver contracts as of close. Comex only has enough physical silver to satisfy less than 8700 contracts or about 5.8% of all contracts. Comex could go belly up. I found a youtube video that kind of explains how the bankers will be affected by it and why it could mean the end of fiat money this year. (the video is 5 days old, thats why it says the price of silver is at $29.91)

    <iframe title="YouTube video player" width="640" height="390" src="" frameborder="0" allowfullscreen></iframe>
  2. Most of my money is in precious metals and the miners as it has been since 2008.

    I expect my portfolio to go up at least another 500% over the next 5 years after which I wil retire.

    I won't be rich enough to buy my own plane or buy a mansion in Beverly Hills but I'll get by...

  4. Locutus


    This. If there was free money there would be a lot of people picking it up. There are a lot of "anomalies" in the financial markets which are interpreted one way or another but don't actually mean anything (for example also usage of the ECB emergency liquidity facility (or whatever that was called), some huge block trade on a futures instrument and so forth) and have no predictive value of future returns.

    All I think it means is that the market is pricing in either:
    a) deflation (pretty likely imo)
    b) Supply will catch up to demand (lots of little drones are rushing to the stores to buy silver and minters cannot keep up hence there is a supply squeeze. (I'm pretty much 95% certain this is the case here)
    c) the market really has no confidence (pretty much 99% certain this is not the case)
  5. Didnt you post that same link 2 days before bear sterns went belly up when people said they could go under?

    Didnt you also post that same link in 2007 when they said housing could go down in value?
  6. Let me know when COMEX "goes belly up" -- I'll be happy to apologize at that point... Re BSC, I'm highly confident I've forgotten more about the firm than you'll ever know. I suspect your knowledge of the firm comes from reading the newspapers...
  7. Whats a newspaper? Isnt that one of those things that if you touch it, it turns your hands black?
  8. Isn't that the same thing people have been saying for years, there is not enough silver in inventory to fulfill the promises of delivery ?
  9. Yes.

    And maybe that's why silver has risen from 4$ an ounce to +30$ an ounce.


    All aboard, 100$ here we come.:eek:
  10. AK100


    Guys, Comex is the friend of the elite and if anyone's big time short Silver it's the elite.

    Therefore expect them to change the rules via some 'emergency rule' in which case the contract will be cash settled rather than physical.

    Please realise that the reason for this will be 'to protect the integrity of the Exchange' from people (the longs) who are clearly trying to corrupt the market.

    Anyone who expects any differerent these days is naive, but of course 100% right.
    #10     Feb 20, 2011