For anyone who thinks breaking the COMEX is impos
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Posted On: 04/29/2021 6:26:25 PM
For anyone who thinks breaking the COMEX is impossible. I have these words for you... Potato Futures, 1976... Silver is the new potato...
Silver Futures are the new Potato Futures
Don't let the daily smackdowns get you down. The price is holding strong. When Jeffrey Christian from Goldman Sachs gets on CNBC and Bloomberg lying his ass off and trying to instill FUD to keep people from turning into Apes. He is doing it to try and keep things contained and try and save their ass. He is willfully neglecting to mention what happened in 1976 when speculators/traders on the NYMEX defaulted on their ability to deliver potatoes yet kept selling futures for them. It blew up and now the CME Group no longer trades Potato Futures.
https://preview.redd.it/01ou4gw3z5w61.jpg?wid...596a9f5c0f
Which brings us to today. At some point the delivery demand for silver will dry up the bullion banks' stock pile which it is happening now worse than anytime before. The PSLV inflow by itself is worse than the Hunt brothers demand in the 70s-80s. They just think this is a phase, and will never stop their game on that premise, so therefore the only way to put them to task is to take the metal off the exchange as we know. But for some of you who wake up every day to see the morning smackdown, this is proof they are really trying to deter us from hording metals. The shorts are really getting backed into a corner here.
Even if the COMEX begins to offer cash to close rather than deliver silver they can't keep that up forever. If they make themselves a commodity exchange but refuse to exchange a commodity how long will that take before the exchange itself is broken by bleeding funds and than a loss of confidence in the global markets when they still attempt to sell paper futures? If industry needs silver and cannot get it thru the COMEX then it is defunct as a real exchange and its pricing mechanisms are totally irrelevant. I'd imagine industry will go elsewhere and that will create a trend with the miners and producers like what happened in the potato industry and pricing will begin to reflect supply, demand, and production lead-times. If the COMEX isn't providing silver and only providing cash, it would be hard to settle all the future orders in cash and still outlay cash to replace inventories, at the same time real physical demand will leave that exchange. They are greedy but not stupid. It only seems stupid because they are currently making a killing doing what they are doing. When it turns ugly and shorts deliver not only will that destroy years of profit it will create bank solvency issues due to the immense amount of fake paper futures. I'd imagine if ultimately the COMEX is no longer a customer to the miners and the producers and they would get accustom to not relying on their orders. The industrial logistics will develop to buying direct from the producers. The COMEX exchange will be forced to close it's doors to silver trading. This happened already with the Potato futures, they defaulted and haven't provided potato futures trading for the last 50 years and the potato industry is doing just great without the COMEX futures trade.
Relevant Citations:
***Let's start by explaining that the COMEX and the NYMEX are all under the CME Group umbrella just so people aren't confused. Everyone knows of the COMEX but the NYMEX is just another exchange, different city, same parent company. Just making clarification before we begin.***
COMEX Agriculture Future Offerings: Can you find the potato futures on the COMEX? NOPE
https://www.cmegroup.com/market-data/delayed-...tural.html
NYMEX Future Offerings: How about here on the NYMEX? NOPE
https://www.cmegroup.com/designated-contract-...html#nymex
Historical New York Times Articles circa 1976:
https://www.nytimes.com/1976/05/26/archives/p...aders.html
https://www.nytimes.com/1976/05/25/archives/p...ng-to.html
Silver Futures are the new Potato Futures
Don't let the daily smackdowns get you down. The price is holding strong. When Jeffrey Christian from Goldman Sachs gets on CNBC and Bloomberg lying his ass off and trying to instill FUD to keep people from turning into Apes. He is doing it to try and keep things contained and try and save their ass. He is willfully neglecting to mention what happened in 1976 when speculators/traders on the NYMEX defaulted on their ability to deliver potatoes yet kept selling futures for them. It blew up and now the CME Group no longer trades Potato Futures.
https://preview.redd.it/01ou4gw3z5w61.jpg?wid...596a9f5c0f
Which brings us to today. At some point the delivery demand for silver will dry up the bullion banks' stock pile which it is happening now worse than anytime before. The PSLV inflow by itself is worse than the Hunt brothers demand in the 70s-80s. They just think this is a phase, and will never stop their game on that premise, so therefore the only way to put them to task is to take the metal off the exchange as we know. But for some of you who wake up every day to see the morning smackdown, this is proof they are really trying to deter us from hording metals. The shorts are really getting backed into a corner here.
Even if the COMEX begins to offer cash to close rather than deliver silver they can't keep that up forever. If they make themselves a commodity exchange but refuse to exchange a commodity how long will that take before the exchange itself is broken by bleeding funds and than a loss of confidence in the global markets when they still attempt to sell paper futures? If industry needs silver and cannot get it thru the COMEX then it is defunct as a real exchange and its pricing mechanisms are totally irrelevant. I'd imagine industry will go elsewhere and that will create a trend with the miners and producers like what happened in the potato industry and pricing will begin to reflect supply, demand, and production lead-times. If the COMEX isn't providing silver and only providing cash, it would be hard to settle all the future orders in cash and still outlay cash to replace inventories, at the same time real physical demand will leave that exchange. They are greedy but not stupid. It only seems stupid because they are currently making a killing doing what they are doing. When it turns ugly and shorts deliver not only will that destroy years of profit it will create bank solvency issues due to the immense amount of fake paper futures. I'd imagine if ultimately the COMEX is no longer a customer to the miners and the producers and they would get accustom to not relying on their orders. The industrial logistics will develop to buying direct from the producers. The COMEX exchange will be forced to close it's doors to silver trading. This happened already with the Potato futures, they defaulted and haven't provided potato futures trading for the last 50 years and the potato industry is doing just great without the COMEX futures trade.
Relevant Citations:
***Let's start by explaining that the COMEX and the NYMEX are all under the CME Group umbrella just so people aren't confused. Everyone knows of the COMEX but the NYMEX is just another exchange, different city, same parent company. Just making clarification before we begin.***
COMEX Agriculture Future Offerings: Can you find the potato futures on the COMEX? NOPE
https://www.cmegroup.com/market-data/delayed-...tural.html
NYMEX Future Offerings: How about here on the NYMEX? NOPE
https://www.cmegroup.com/designated-contract-...html#nymex
Historical New York Times Articles circa 1976:
https://www.nytimes.com/1976/05/26/archives/p...aders.html
https://www.nytimes.com/1976/05/25/archives/p...ng-to.html
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