Current CRIMEX open interest in the Silver contract stand at 121,709. At 5000 ounces per contract, this open interest equates to 608,510,000 ounces of Silver. The running bet at the CRIMEX is that only 1% of these open contracts will stand for delivery in any given delivery month. This 1% would be equal to 6,085,100.
As of yesterday, the CRIMEX had 29,631,268 ounces Silver in their registered warehouses available to meet delivery demands. What if suddenly 5% of these open Silver contracts stood for delivery?
5% of the current open interest in Silver standing for delivery would equal 30,425,000 and effectively wipeout the CRIMEX registered warehouses invetory and close the exchange.
The estimated supply of Global Silver available for delivery is about 600 MILLION ounces. The CRIMEX banking cartel currently holds a short position of 608 MILLION ounces. The problem is obvious, unless of course you are a blind CFTC regulator.
The paper price of Silver is a joke. The real price of Silver is in the physical markets, and premiums are rising. Buy phiscal Silver immediately before there is none left.
Think of CRIMEX Silver as a beach ball being pushed under the water. [the water is a pool of depreciating US Dollars] How long can you hold a beachball under water before it explodes to the surface and into the air?
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