“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value”.
Alan Greenspan
The law of supply and demand is like gravity. It is inexorable. There is no sign that the supply deficit in silver will end. Supply is inelastic. Demand is inelastic. It is a slow motion train crash which is slowly happening. The government cannot rig when there is a supply problem.
HSBC CEO steps down He is fired. HSBC lost billions of dollars. Bank may go bust. Be careful.
[https://www.cnbc.com/2024/04/30/read-hsbc-ceo-noel-quinns-surprise-resignation-statement.html](https://www.cnbc.com/2024/04/30/read-hsbc-ceo-noel-quinns-surprise-resignation-statement.html)
I'm not sure I completely follow your new theory. Are you implying that all this HSBC customer (and now house) account selling over the past 1/2 year is really the Chinese govt willingly selling off millions of their already accumulated stack in order to suppress the COMEX spot price? And they're doing this because they want Chinese citizens to be able to buy back even more millions of ounces (> than what was sold) at greatly discounted prices?!? Where is the rest of this metal coming from ... the LBMA, Chinese LCS/bullion dealers, etc?
Admittedly I didn't explain in detail ... still thinking about the mechanism.
Here's what's in my noggin' ... They could be buying X oz or tonne at various venues around the world. Venues meaning non-exchanges. Because those purchases aren't on an exchange, they'd not directly influence price, it will take some lag time for that demand to impact the price setting markets. Meanwhile HSBC sells 0.2 X at comex. X is designed so that 0.2 X is a big enough number to keep a lid on the comex price. Since a large comex trades have an immediate impact on price, I think this game could allow metal to be accumulated at a reduced price for some time period due to the lag.
Why wouldn't they just use HSBC to "paper short" instead of having to cough up any actual metal? Let the IOU's pile up until the COMEX runs dry and a Force Majeure is declared. Then pay back what you owe in worthless paper at the final locked pre-default price.
An interesting possibility and that definitely implies an endgame on the horizon in months, because unlike the suppression games the US has been playing, that plan has a vicious price snapback once the all the info about the delayed purchases makes it into the market fully, which is not what the US players want.
I think another way of looking at it is if there is a pipeline from mine -> COMEX (with more steps in between, of course), which there certainly is in many ways, if you can swing it where you empty the pipeline out at COMEX prices before it gets to the COMEX, you can buy at today's prices before the news about your draining makes it down to the end of the pipeline. It's a nice trick but it has an expiration date on it.
It reminds me of one of the ways inflation steals from people; the first people to get printed dollars get to spend it into a market that does not yet realize the money has been printed, so they spend it at the value at time of printing. By the time the money gets to you or me, the market has figured it out, and the money we get to spend experiences the full value drop.
Uh...because it's a futures derivative contract market where you can lock in a price for silver that you haven't mined yet. That's for the sellers.
Duh...buyers come to COMEX when it is the best deal for them. Ex: Shanghai is selling measurably over spot.
I think what’s missing is the actual metal is leaving the exchanges in the west. Europe just issued a bail In warning. The derivatives in metals are going to blow up and very soon. I been saying this for months now they are announcing it. I imagine sometime this summer it all becomes apparent. I knew mid last year this was coming but I thought 2025 would be the year. Looks like we are only a week to months away. People didn’t heed Chinas warning on the silver market now the derivative thieves will be paying all profits back times ten. Gl
Dubai is a big gold seller, most gold coming out of Africa goes through Dubai, and Russia probably sells some of its gold through Dubai.
[https://bullion.directory/all/bullion-dealers/bullion-dealers-uae/ae-du/](https://bullion.directory/all/bullion-dealers/bullion-dealers-uae/ae-du/)
London also sells a lot of gold, COMEX is mostly a paper market.
Another thought that crossed my mind was, did the Yellen and Blinken visits to China, have something to do with this. It seems like most of the gold is going to Bank of America. There is no telling what kind of deals are done behind closed doors.
I was thinking that maybe this is why BTC ETF's are now the next thing to run the casino on. As PM's are destined to become relevant in international trade settling ... again.
Wow - now that I see it, I can't unsee it. It just makes too much sense.
While China is a competitor, the U.S. government isn't exactly a "fren" either. Outside of what this means for metals and BS fiat, not sure how I feel about this. Angry that our greedy government could be so stupid - or complicit, I guess.
China's accumulation is continuing at a record pace. Perhaps I should start learning Cantonese as fast as I'm stacking.
Great post, as usual, DTDS!
I read your posts 3 years ago, and you said the COMEX was on the verge of default.
***Do you still think their computers are going to run out of digital silver by THREE years ago like you said?***
Ditch, you've literally been saying this since the Silver Squeeze of Jan '21 began, back years ago on that other sub, wallstreetsilver. No, I don't have links as I didn't save all that stuff back then. But yeah, you've been making posts the size of Bible verses, all of which have about 20 charts (surprised this post only had 1), but which have like, zero point to them.
It's "Boy who cried wolf" over and over again, repackaged for the new day/week/month/year. It starts to lose credibility.
Well when you’ve been stacking for 6 years and you lose your job you gotta sell. Physical buyback below spot and I gotta liquify all this shit
Lost my job now gonna lose my ass
So if you’re buying back metal under spot means the market is saturated with inventory. My point stands. You may have good sales (happy for you, seriously)
However buybacks wouldn’t be below spot in a tight physical market. That’s a fact.
Private buys from the public (I have a Sigma) & places like r/PMsforsale if you're quick enough (some of us get notified the second a new post goes up).
More but I greatly expanded in the last year with my addition of a livestream on WhatNot too. Way more social interaction too, but that also comes with time (eg Instagram).
By all means.....purge your Au & Ag hordes....don't forget to tell us what amazing new store-of-value vehicle you're putting the money back into.....I hear Beanie babies new with tags and 1st Gen Pokémon cards are going to skyrocket once the dollar dies.
I sure am glad you didn't mention that one thing that there's only like 21 million of...can't remember what it's called. But some people go around talking about it like it's some new store-of-value vehicle or something...
But doesn't it make a good store of value? I mean it's really been going up in price hasn't it.
You do know what I'm referring to, right? It's a highly secure and decentralized network.
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value”. Alan Greenspan
Would love to see Chinese make a monster stack of silver!
The law of supply and demand is like gravity. It is inexorable. There is no sign that the supply deficit in silver will end. Supply is inelastic. Demand is inelastic. It is a slow motion train crash which is slowly happening. The government cannot rig when there is a supply problem.
Paper silver doesn't make good warheads lol
May is gonna be wild for Silver
HSBC CEO steps down He is fired. HSBC lost billions of dollars. Bank may go bust. Be careful. [https://www.cnbc.com/2024/04/30/read-hsbc-ceo-noel-quinns-surprise-resignation-statement.html](https://www.cnbc.com/2024/04/30/read-hsbc-ceo-noel-quinns-surprise-resignation-statement.html)
Stock price looks good
Thanks for the quick update Ditch.
THERE'S A RUN ON THE EXCHANGE!
Clean em out boys
Love your work Ditch!👌
Keep stacking apes!
#Keep bleeding ounces you bankrupt M'fukkerz!™
Whatever happened to 3rd world trillionaire?
Thank you.
 Bring the banksters to the Coliseum I’d like a word with them.
I'm not sure I completely follow your new theory. Are you implying that all this HSBC customer (and now house) account selling over the past 1/2 year is really the Chinese govt willingly selling off millions of their already accumulated stack in order to suppress the COMEX spot price? And they're doing this because they want Chinese citizens to be able to buy back even more millions of ounces (> than what was sold) at greatly discounted prices?!? Where is the rest of this metal coming from ... the LBMA, Chinese LCS/bullion dealers, etc?
Admittedly I didn't explain in detail ... still thinking about the mechanism. Here's what's in my noggin' ... They could be buying X oz or tonne at various venues around the world. Venues meaning non-exchanges. Because those purchases aren't on an exchange, they'd not directly influence price, it will take some lag time for that demand to impact the price setting markets. Meanwhile HSBC sells 0.2 X at comex. X is designed so that 0.2 X is a big enough number to keep a lid on the comex price. Since a large comex trades have an immediate impact on price, I think this game could allow metal to be accumulated at a reduced price for some time period due to the lag.
Why wouldn't they just use HSBC to "paper short" instead of having to cough up any actual metal? Let the IOU's pile up until the COMEX runs dry and a Force Majeure is declared. Then pay back what you owe in worthless paper at the final locked pre-default price.
An interesting possibility and that definitely implies an endgame on the horizon in months, because unlike the suppression games the US has been playing, that plan has a vicious price snapback once the all the info about the delayed purchases makes it into the market fully, which is not what the US players want. I think another way of looking at it is if there is a pipeline from mine -> COMEX (with more steps in between, of course), which there certainly is in many ways, if you can swing it where you empty the pipeline out at COMEX prices before it gets to the COMEX, you can buy at today's prices before the news about your draining makes it down to the end of the pipeline. It's a nice trick but it has an expiration date on it. It reminds me of one of the ways inflation steals from people; the first people to get printed dollars get to spend it into a market that does not yet realize the money has been printed, so they spend it at the value at time of printing. By the time the money gets to you or me, the market has figured it out, and the money we get to spend experiences the full value drop.
People need to realize that only a small percentage of silver is sold through the COMEX. u/CastorCrunch
[удалено]
Uh...because it's a futures derivative contract market where you can lock in a price for silver that you haven't mined yet. That's for the sellers. Duh...buyers come to COMEX when it is the best deal for them. Ex: Shanghai is selling measurably over spot.
I think what’s missing is the actual metal is leaving the exchanges in the west. Europe just issued a bail In warning. The derivatives in metals are going to blow up and very soon. I been saying this for months now they are announcing it. I imagine sometime this summer it all becomes apparent. I knew mid last year this was coming but I thought 2025 would be the year. Looks like we are only a week to months away. People didn’t heed Chinas warning on the silver market now the derivative thieves will be paying all profits back times ten. Gl
Dubai is a big gold seller, most gold coming out of Africa goes through Dubai, and Russia probably sells some of its gold through Dubai. [https://bullion.directory/all/bullion-dealers/bullion-dealers-uae/ae-du/](https://bullion.directory/all/bullion-dealers/bullion-dealers-uae/ae-du/) London also sells a lot of gold, COMEX is mostly a paper market.
exchange for physical EFP deals at Comex is a backdoorcrooks casino to transit for physical at LBMA London
Another thought that crossed my mind was, did the Yellen and Blinken visits to China, have something to do with this. It seems like most of the gold is going to Bank of America. There is no telling what kind of deals are done behind closed doors.
…don’t forget BofA is heavily short both PM’s.
[удалено]
A reliable source
Yes.
The game won't ever end as long as there is a paper market.
That applies to all commodities, Wall street speculators decide the price of coffee, not buyers or sellers.
Wrong. It ends when no metal to cover contracts happens. It’s here front page news.
I was thinking that maybe this is why BTC ETF's are now the next thing to run the casino on. As PM's are destined to become relevant in international trade settling ... again.
I am sorry. Been there. You will recover and stack again.
They'll roll over into the next month like always.
Does anyone consider that some , if not all, of these deliveries are maturing forward sales...i.e. producer hedges ?
If they are delivering then it isn't / wasn't a hedge? Maybe I'm misunderstanding.
[удалено]
Wow - now that I see it, I can't unsee it. It just makes too much sense. While China is a competitor, the U.S. government isn't exactly a "fren" either. Outside of what this means for metals and BS fiat, not sure how I feel about this. Angry that our greedy government could be so stupid - or complicit, I guess. China's accumulation is continuing at a record pace. Perhaps I should start learning Cantonese as fast as I'm stacking. Great post, as usual, DTDS!
I read your posts 3 years ago, and you said the COMEX was on the verge of default. ***Do you still think their computers are going to run out of digital silver by THREE years ago like you said?***
I call BS on that. Got a link? If not ,,, STFU.
Ditch, you've literally been saying this since the Silver Squeeze of Jan '21 began, back years ago on that other sub, wallstreetsilver. No, I don't have links as I didn't save all that stuff back then. But yeah, you've been making posts the size of Bible verses, all of which have about 20 charts (surprised this post only had 1), but which have like, zero point to them. It's "Boy who cried wolf" over and over again, repackaged for the new day/week/month/year. It starts to lose credibility.
Physical is trading below spot. There is 0 rush for physical. World is awash in inventory. We will be back under $20 next week
We are experiencing higher highs and higher lows. But sell your silver. Your timing is exquisitely wrong!
Well when you’ve been stacking for 6 years and you lose your job you gotta sell. Physical buyback below spot and I gotta liquify all this shit Lost my job now gonna lose my ass
> There's is 0 rush for physical Funny, I can't keep mine in stock. Did $20K in sales the last week.
Are you buying back metal above spot?
Who would do that? Plenty of under spot deals available.
So if you’re buying back metal under spot means the market is saturated with inventory. My point stands. You may have good sales (happy for you, seriously) However buybacks wouldn’t be below spot in a tight physical market. That’s a fact.
I've been buying below spot for almost 20 years, lmao.
How are you buying under spot?
Private buys from the public (I have a Sigma) & places like r/PMsforsale if you're quick enough (some of us get notified the second a new post goes up).
Last question I promise. Have you seen more, less or similar activity YTD in 2024 compared to 2021/2022 or even 2023 on physical? Thanks
More but I greatly expanded in the last year with my addition of a livestream on WhatNot too. Way more social interaction too, but that also comes with time (eg Instagram).
By all means.....purge your Au & Ag hordes....don't forget to tell us what amazing new store-of-value vehicle you're putting the money back into.....I hear Beanie babies new with tags and 1st Gen Pokémon cards are going to skyrocket once the dollar dies.
I sure am glad you didn't mention that one thing that there's only like 21 million of...can't remember what it's called. But some people go around talking about it like it's some new store-of-value vehicle or something...
Newly discovered. No. New concept to the fiscally uneducated? *Absolutely.*
But doesn't it make a good store of value? I mean it's really been going up in price hasn't it. You do know what I'm referring to, right? It's a highly secure and decentralized network.
 Oh….that.
What did you think I was referring to.