Thread by @honzacern1

COMEX Is Bleeding Silver.

🧵 1/

While everyone watches the price…
COMEX silver is quietly bleeding.

And almost nobody is talking about it. 🩸🥈

Let’s look at what just happened.

2/

📉 TOTAL REGISTERED SILVER:

Was: 101,394,888 oz
Now: 98,138,005 oz

💥 −3,256,882 oz
In. One. Day.
Registered = metal ready for delivery.

That’s the ammo pile shrinking.

3/

📉 TOTAL COMBINED STOCKS:

Was: 386,273,024 oz
Now: 381,568,803 oz

💣 −4,704,221 oz gone.
Not a paper move.
Not a spreadsheet trick.

Physical silver leaving the system.

4/

Let that sink in.
Almost 5 MILLION ounces drained in 24 hours.

At $83 silver.

This isn’t panic selling.

This is positioning.

5/

Now here’s where it gets interesting:

JP Morgan
👉 −2,565,810 oz (Eligible)

Loomis
👉 −1,088,419 oz
Asahi
👉 −610,906 oz

When custodians move size like that… it’s not retail.

6/

Registered silver is now under 100M oz.
Psychological level.

Only ~25% of total inventory is actually deliverable.

That ratio is not comfortable.

7/

And here’s the kicker:

February deliveries already near 23 MILLION ounces.

Let me repeat.

23 million oz standing for delivery.

In a non-major month.

8/

High price.
Heavy deliveries.
Falling inventories.
That’s not weakness.
That’s tension building.

9/

Paper traders see candles.
Stackers watch warehouses.

And warehouses are getting lighter.

10/

If this pace continues…
COMEX doesn’t need to “run out.”

It just needs to get tight enough.

Tight markets reprice violently.

11/

You don’t need hysteria.
You don’t need conspiracy.

You just need math.

And math says silver is being absorbed.

Quietly.

12/

Physical > Paper.
Always.

🥈🔥

#Silver
#SilverSqueeze
#Stackers
#COMEX
#PhysicalSilver

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