Borrowed this from SH ............

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Looks like the Banks (JP Morgan & others) could blow up sooner than later and get literally SCREWED. :)

The Commitment of Traders wasn't happy reading either. It showedthat the bullion banks went net short another 2,421 contracts in silver.The Commercial net short position [where the bullion banks play] nowsits at 61,798 contracts, or 309.0 million ounces of silver. The '4 orless' traders are short 256.0 million ounces... and the '8 or less'traders are short 337.6 million ounces. The link to the full colour COTsilver graph is here... and the further deterioration is very obvious.

In gold, the bullion banks increased their netshort position by a smallish 3,119 contracts, or 311,900 ounces. TheCommercial net short position in gold is now 28.8 million ounces... ofwhich the '4 or less' traders hold 21.0 million ounces short... and the'8 or less' bullion banks are short 28.3 million ounces. The fullcolour COT graph for gold is linked here. The page was very slow to load earlier this morning.

These increases in net short position in theCommitment of Traders report are part of the numbers reported in theSeptember Bank Participation Report... not an addition to them.... asthe cut-off date for both reports was this past Tuesday at the close oftrading.