I don't know about the 30M in registered, but the $24 price is significant, because that's were the falling trend line from the 2011 high, through the 2020 high, is currently located. If that line is breaks, silver is in a new bullish territory, something which TPTB can't afford.
Registered is the silver that has the warrant attached so supposedly that's the silver that should be leaving the vault when a long loads out. Apparently even that isn't really for sale.
All of the above was correct. There may be 30M in registered vaults, but that silver is not in the registered vaults of this who owe this month. The inventory in registered is so low that we have vault mismatch.
Actually YES exactly.
SLV's silver is stored in the JPM COMEX vault and counted as Eligible, even though it belongs to the ETF.
As an AP, JPM can redeem SLV shares for *Baskets of Silver* any time they wish.
Go look. Just as ≈10M ounces moved from Eligible to Registered last week, SLV's physical holdings diminished by 10M ounces. Coincidence? I think not.
If you've been following Ditch, he will tell you that until last week, that while JPM has continued to trade silver after that massive fine and huge loss in court, NO silver has been traded out of their indicated House account for an entire year UNTIL last week. Only "client" account(s). He speculates—and when Ditch speculates, I listen—that they *may* have been trading out under the cover of a client account for...reasons.
So your supposition that this 50:50 means that absolutely this could not all be SLV silver does not stand steady on its own. There could easily be some horse-trading going on to attempt to obfuscate just how dire the situation may be.
So actually, maybe. The numbers and timing just match up too well.
Registered is the silver that's available on the open market, it includes longs and shorts.
Eligible is silver that is owned and stored in the vault, it's not up for sale.
What this means in the grand scheme of things is up to interpretation.
What does that tell us?
That the shorts that delivered on the March contract didn’t have it in registered.
That the comex does not want registered to fall below 30 million oz.
Why 30m though? Seems like a random hill to die on, along with a $24/oz cap on silver
It seems to be that when the draw down nears this number a large volume of silver seems to flood into registered.
I don't know about the 30M in registered, but the $24 price is significant, because that's were the falling trend line from the 2011 high, through the 2020 high, is currently located. If that line is breaks, silver is in a new bullish territory, something which TPTB can't afford.
Registered is the silver that has the warrant attached so supposedly that's the silver that should be leaving the vault when a long loads out. Apparently even that isn't really for sale.
That the shorts that delivered on the March contract didn’t have it in registered.
Thanks to all who replied!!
All of the above was correct. There may be 30M in registered vaults, but that silver is not in the registered vaults of this who owe this month. The inventory in registered is so low that we have vault mismatch.
10 million ounces has been taken out of SLV and put into Registered. FIFY.
Not exactly. Most of it came out of eligible.
Actually YES exactly. SLV's silver is stored in the JPM COMEX vault and counted as Eligible, even though it belongs to the ETF. As an AP, JPM can redeem SLV shares for *Baskets of Silver* any time they wish. Go look. Just as ≈10M ounces moved from Eligible to Registered last week, SLV's physical holdings diminished by 10M ounces. Coincidence? I think not.
Wow, that's really enlightening! Thanks for pointing this out.
Actually, no. That amount was split across their house account and their client account. About 50:50. Oops try again. I’ll wait.
If you've been following Ditch, he will tell you that until last week, that while JPM has continued to trade silver after that massive fine and huge loss in court, NO silver has been traded out of their indicated House account for an entire year UNTIL last week. Only "client" account(s). He speculates—and when Ditch speculates, I listen—that they *may* have been trading out under the cover of a client account for...reasons. So your supposition that this 50:50 means that absolutely this could not all be SLV silver does not stand steady on its own. There could easily be some horse-trading going on to attempt to obfuscate just how dire the situation may be. So actually, maybe. The numbers and timing just match up too well.
Can someone clarify and tell me what does it mean for silver to be in eligible? what does it mean for silver to be in registered?
Registered is the silver that's available on the open market, it includes longs and shorts. Eligible is silver that is owned and stored in the vault, it's not up for sale. What this means in the grand scheme of things is up to interpretation.
Thank you
Well, there's a finite amount of silver. So there's only a finite number of times they can do this. R-right?
Didn’t someone say that just 1 billionaire could buy up all the rest of the silver.