SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?


To: Louis V. Lambrecht who wrote (7395)5/1/2006 11:54:38 PM
From: Patrick Slevin  Respond to of 8010
 
Oh, broker to broker has a clearing delay.

Never knew that, nor thought about it much. Swaps I can understand. Unwinding those positions could take forever.

I still do not quite understand why I, as an individual, would be concerned about a problem like that?

Unless you are relating it somehow to Refco. Coincidentally, I had an account at Refco, but also one at Man. When everything went kerflooey Man eventually had both my accounts so I just merged them.



To: Louis V. Lambrecht who wrote (7395)5/2/2006 9:19:32 AM
From: TrueScouse  Read Replies (2) | Respond to of 8010
 
Louis:

As I suspected, almost all the SLV volume on Friday involved purchase of new silver. 2.34 M shares were traded and 2.1 M shares were outstanding at the end of the day -- worth $263 M...

ishares.com

So it took 21 million oz of silver off the market in one day. Not bad!

Best regards,
Howy