-- Posted Tuesday, 16 December 2008 | Digg This Article | Source: GoldSeek.com

By: Bix Weir

I think it's a good time to put things in perspective when it comes to the "Run on the COMEX Gold/Silver". As I have stated before, the “Authorized Warehouse” reported inventory as well as the CFTC reported "delivery notices" are most likely a complete fraud and a true default will never appear in this data until after the gold/silver rocket has taken off.

Having said that, if someone really wanted to beat the cabal by soaking up all the physical metal at the COMEX it looks like this months notices could have taken down the entire fraudulent COMEX MARKET RIGGING SCAM. The only problem was where they focused their attack.

Let me explain:

As of 12/16 the following notices have been given for delivery:

Gold 13,018 contracts or 1,301,800 oz against a TOTAL COMEX gold inventory of 8,553,831oz in both registered and eligible categories. This is interesting but doesn't seem to be back breaking for the COMEX naked shorts. At todays gold price the delivery notices equate to physical gold bullion worth $1,093,512,000.

Silver 5,943 contracts or 29,715,000 oz against a TOTAL COMEX silver inventory of 126,824,117 oz in both registered and eligible categories. Again interesting but doesn't seem to be back breaking. At todays silver price the delivery notices equate to physical silver bullion worth $317,356,200.

Let's assume, for the sake of argument, that all the gold/silver delivery notices were called by the "good guys" who were trying to orchestrate the run and the suppliers of metal were the "bad guys" trying to prolong the COMEX manipulation. It has been shown by many in the GATA camp that the Cabal suppressing the price of gold are the same players suppressing the price of silver. This can be easily seen by comparing the "Authorized Participants" in both SLV and GLD. It's an almost identical gang of white collar mobsters we like to call the "Banking Cabal".

Now let's add up the cash required to take delivery of both gold and silver bullion so far this month:

$1,093,512,000 + 317,356,200 = $1,410,868,200

If the goal of the "good guys" was to destroy the market manipulation on the COMEX clearly throwing $1.4B at the physical gold COMEX holdings would not blow the gold shorts out of the water....BUT WHAT ABOUT SILVER?

$1,410,868,200 / $10.60 per oz = 133,100,774 ounces or 105% of the entire COMEX Warehouse silver stock including those who are just storing their silver there!

Given we know that all the players in gold and silver manipulation are the same....

THE LONG TERM MANIPULATION OF GOLD AND SILVER WOULD BE OVER HAD THE "GOOD GUYS" THROWN ALL THEIR MONEY AT PHYSICAL SILVER INSTEAD OF GOLD!

A few months back I tried to outline the incredible difference in the gold and silver opportunities (Swap All Your Gold For Silver)

It makes you wonder if the "good guys" are simply not ready for the scam to end. Either they are delaying the final blow to load up on as much physical as possible OR they are waiting for a the "moment" when the entire house of cards comes down.

The Atlas Shrugged Moment.
-- Posted Tuesday, 16 December 2008 | Digg This Article