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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (14644)	11/18/2008 6:32:41 PM
From: Secret_Agent_Man	Read Replies (2) \| Respond to of 71456

The withdraws of COMEX gold and silver are continuing. In gold a total of 60,999 ounces were withdrawn yesterday, with 19,268 ounces coming from the Scotia Mocatta warehouse and the remainder coming from HSBC. Total COMEX gold holdings are now down to 8,115,689 ounces of which 2,402,463 ounces is registered. In silver a significant 1,169,649 ounces were withdrawn yesterday, all from the Scotia Mocatta warehouse. That is two 18 wheelers worth, fully loaded. Total COMEX silver holdings are now down to 129,034,435 ounces. Dave from Denver on the same… Yesterday 1.2 million ounces of silver left the Comex and 61,000 ozs. of gold, 1.7 tons. The November o/i in gold is now down to 8 contracts, so the contracts were either retendered or delivered. We won't know for a few days what that situation is, as in my experience sometimes when I've been given notice, it takes a few days before the Comex actually ships the gold. At least 61 of yesterday's 800 and change November o/i was delivered. This will be interesting to watch over the next 12 days to see how much gold and silver are removed. *** Houston’s Dan Norcini responded… Dave; See my comments on the charts from both yesterday and today… the 886 increase in November last week was for the express purpose of taking delivery. Bank of Nova Scotia took most of them. They were all assigned on Friday of last week and come off the books the following trading session. I am watching to see if BNS retenders any of it or holds it all. Dan

To: Real Man who wrote (14644)	11/18/2008 6:37:00 PM
From: Secret_Agent_Man	Read Replies (5) \| Respond to of 71456

Adrian on the Comex… Bill, Yesterday 1.17 Moz of silver were removed from the COMEX. Abut 10,000 ozs came from the eligible category which means private owners of silver stored on the COMEX are removing it. The total inventory is now below 130 Mozs (129, 034,435) for the first time in at least 2 years if my memory serves me right. The dealers have just 80.8 Moz enough to deliver on only 16% of the open interest. In gold 60,999 ozs were withdrawn from the registered category bringing the inventory of the dealers to 2.4 Mozs which is enough to deliver on just 8.3% of the Open Interest. Typically the majority of contracts are rolled to future months but with no metal available in the retail market anywhere the December contract will be closing in unprecedented market conditions. It would be naïve to expect "typical" behavior of the longs. The longs that are now holding contracts have endured the most vicious cartel attack ever under the most gold bullish conditions ever. Have these longs endured this just to roll their contracts to endure some more shenanigans from the Cartel or will a large percentage stand for delivery? My guess is that the December contract will be anything but "typical". We will know soon. Cheers Adrian