Discover and read the best of Twitter Threads about #LBMA
Most recents (5)
Two years ago on 1/27/21 I posted my #silversqueeze post on Wallstreetbets
It was a Wednesday night in the middle of the GameStop controversy
Four days later #silver was squeezing
Robinhood banned buying of PSLV
A few days later $SLV changed their prospectus
Crazy times
It was a Wednesday night in the middle of the GameStop controversy
Four days later #silver was squeezing
Robinhood banned buying of PSLV
A few days later $SLV changed their prospectus
Crazy times
2 months later the #LBMA admitted they over represented their inventories by 110m ounces of silver
A month after that they released a report saying they came roughly 2 weeks from running out of silver
@CFTCbehnam admitted they “had to tamp down” the silver run up
A month after that they released a report saying they came roughly 2 weeks from running out of silver
@CFTCbehnam admitted they “had to tamp down” the silver run up
Jeff Currie of Goldman went on CNBC and Bloomberg saying there was no risk of running out of silver and that 50 billion ounces were available
A massive misrepresentation when the LBMA came within a couple hundred million ounces of running out
A massive misrepresentation when the LBMA came within a couple hundred million ounces of running out
4 RICO not suave
#JPMorgan traders
go on trial today🧵
Wait?!
US DoJ claims PM mkts 'were' criminal
JPMorgan still dominates US precious metals derivative mkt share
This topic is way deeper than mere greed
- bloom.bg/3Pf2W97 -
2 Bloomberg reporters tagged below
#JPMorgan traders
go on trial today🧵
Wait?!
US DoJ claims PM mkts 'were' criminal
JPMorgan still dominates US precious metals derivative mkt share
This topic is way deeper than mere greed
- bloom.bg/3Pf2W97 -
2 Bloomberg reporters tagged below
IRONIC TIMING:
💣former London gold trader
precious metals mkt makers increasingly use unsecured derivatives to subvert mkt forces, now decades running:
reaction.life/dont-forget-th…
"Once investors swallowed this stupefying pill it was easy to sell them gold that simply didn’t exist."
💣former London gold trader
precious metals mkt makers increasingly use unsecured derivatives to subvert mkt forces, now decades running:
reaction.life/dont-forget-th…
"Once investors swallowed this stupefying pill it was easy to sell them gold that simply didn’t exist."
JPMorgan
paid a paltry $920 million fine
for the US Department of Justice's 8 yr RICO precious metals rigging indictment 2008-2016
US Office of the Comptroller of the fiat Currency
often known by the acronym OCC just acknowledged Q1 22 that +90% of PM derivatives = JPMorgan/Citi
paid a paltry $920 million fine
for the US Department of Justice's 8 yr RICO precious metals rigging indictment 2008-2016
US Office of the Comptroller of the fiat Currency
often known by the acronym OCC just acknowledged Q1 22 that +90% of PM derivatives = JPMorgan/Citi
1/ Could the #LME #nickel fiasco happen to the #Comex #gold and #silver market?
On my recent Twitter Spaces with @PalisadesRadio I mentioned that we may have a problem with current and future availability of gold and silver bars from the expanded refiner list.
Please retweet!
On my recent Twitter Spaces with @PalisadesRadio I mentioned that we may have a problem with current and future availability of gold and silver bars from the expanded refiner list.
Please retweet!
2/ Back in 2020, the #CME expanded the list of approved refineries whose bars are eligible for good delivery to the Comex. This was due to overwhelming demand for physical product and to maintain an orderly market. bullionstar.com/blogs/ronan-ma…
3/ 51 #LBMA approved gold refineries had been added to the eligible brand list for the COMEX 100 (GC 100) gold futures contract. Of the 51 refiner brands, the top countries represented are 12 refineries from China and 7 from Russia.
We are nearly a month later and BOY IS IT WORSE then i thought.
The Definitive August #COMEX #Silver #Shadowcontracts thread!
Summarized; I know I'm right now. The patterns that emerged this month have been enlightening.
COMEX. Is. Dead.
Picture first explanation later! 1/y
The Definitive August #COMEX #Silver #Shadowcontracts thread!
Summarized; I know I'm right now. The patterns that emerged this month have been enlightening.
COMEX. Is. Dead.
Picture first explanation later! 1/y
I would highly recommend first reading the other thread. But just to summarize; #Shadowcontracts are the contracts that are created, then delivered, on the same day.
This means that open interest goes up by 1, then down by 1, meaning there's 1 delivery to 0 OI change. 2/y
This means that open interest goes up by 1, then down by 1, meaning there's 1 delivery to 0 OI change. 2/y
So if open interest changes by -10, but there where 15 deliveries, there where 5 #shadowcontracts.
Open interest being below the number of deliveries isn't a problem, it should simply never be above it.
As shown in the picture, It adds up to quite a few ounces. 3/y
Open interest being below the number of deliveries isn't a problem, it should simply never be above it.
As shown in the picture, It adds up to quite a few ounces. 3/y
ALRIGHT it's here! The definitive Thread about #COMEX #Silver #Shadowcontracts starting to appear in July.
Picture first, explanation below. It's cobbled together from daily screenshots from their site cmegroup.com/trading/metals… where you can check daily futures volume. 1/x
Picture first, explanation below. It's cobbled together from daily screenshots from their site cmegroup.com/trading/metals… where you can check daily futures volume. 1/x
First off, small apology about missing a few days of final reports; i drew the short straw on long term #covid19 effects and it's been a rough year. Never the less it's accurate enough.
Let's start with the basic question: What do i mean by #silver or #gold #shadowcontracts? 2/x
Let's start with the basic question: What do i mean by #silver or #gold #shadowcontracts? 2/x
By that i mean a contract for delivery on the #COMEX that is created - and delivered - on the same day. It's my explanation for why the open interest change doesn't line up with the deliveries.
I want to stress i don't know this, it's just the only logical explanation left. 3/x
I want to stress i don't know this, it's just the only logical explanation left. 3/x
