GZ, I got a kick out of this:
VanHelsing Says:
February 21st, 2011 at 6:28 am
Silver Default Looms?! About 53,000 silver contracts for 5000 oz. each are nearing the first delivery day on Feb. 28th. At that time, each contract must be fully funded to await delivery in the following 30 days, or sold before then. By the way, 53k x 5k = 265 million oz. The thing is that the four COMEX approved warehouses have only about 100 million oz. of silver in them. So, in essence, a default looms. Clearly, if the longs stand for delivery of 265 million oz., when there are only 100 million oz. in the warehouses, there will be a short squeeze, and the price can go ballistic to the upside
worldtruthorg Reply:
February 21st, 2011 at 7:24 am
Is'nt this fraud on a very large scale?
billp Reply:
February 21st, 2011 at 8:23 am
No it is fraud on a very, very, very, very large scale. |
