Wasn't something suppose to happen with silver?

agentjim007

Nov. 20th I think. Contracts,default, Comex or some other mumbo jumbo I don't get.

OPA

<< <i>Nov. 20th I think. Contracts,default, Comex or some other mumbo jumbo I don't get. >>



Yeah ... I was wondering myself ... I have not heard of any defaults in PM's by COMEX ....

roadrunner

It was more about gold contracts. Today is the 21st and gold is up much higher. I believe those providing delivery have weeks to accomplish it. The dollar weakness today may not be the only reason gold spiked.

roadrunner

rgCoinGuy

Thread Link

MoneyLA

thank you for posting the link. Okay guys... where is that default you were talking about? and what filled the Internet with "crisis stories?" come on. we're waiting.

jmski52

Okay guys... where is that default you were talking about? and what filled the Internet with "crisis stories?"

Ask the OP (of the original thread). He pretty much discredited himself by not offering any substantiation.

renman95

Something did happen, gold up $50+, silver up 8% and platinum up $45.

I don't know why?

Ren

MoneyLA

Renman, the moves today were not significant, considering the recent plunges.

The Internet hype concerned a major crisis and default. Where is it?

roadrunner

Yeah, the moves today are nothing even though the dollar is basically unchanged. Keep on walking along, nothing to see here.
Apparently the rapid $50 move to $800 gold today wasn't big enough to catch anyone's attention.

roadrunner

fc

<< <i>Okay guys... where is that default you were talking about? and what filled the Internet with "crisis stories?"

Ask the OP (of the original thread). He pretty much discredited himself by not offering any substantiation. >>



i agree with this. saying you heard a rumor is one thing but the OP
made it sound like he had something substantial.

renman95

My intent was lost...should've put a winky at the end.

R

Deadhorse

I believe I know the OP's original intent.

As far as not naming names, this has to be the most widely known "secret name" I've heard of in years. Sort of like LeBron James when supposedly no one knew who the rookie of the year would be his first year in the NBA. Right down to the trophy presentation, it was who knows who it will be, wink, wink, nudge, nudge.

However, while there was oncoming stress on physical reserves, it's didn't quarantee a default.

So, in that sense, perhaps it was a bit overblown. Now, in 90 days, with the next bartch of futures coming up, that could be a sitiation where push comes to shove. Maybe not, but certainly more apt to the OP's intent than currently.

RR is correct, they have 2 weeks to complete delivery and the fact is that they had well over 4 times the futures contracts at the rigged paper prices than they had the physical to deliver. Should even 25% of their contract holders demand physical delivery, the sauce could hit the airscrew.

Let's see, extend my paper contract at the $750 paper price give or take $25............ or take delivery when it's common knowledge that the physical is worth well over 10-15% more in the real world. Hmmm, tough decision. Made all the more easier when one considers the size of the baskets involved.

We're talking real money here, large amounts of money at a time when the smart moves are towards either physical gold or the US Dollar.

So, yeah, sure that gold spike today was just a coincidence. Several more days of coincidences wouldn't surprice me at all.

Must make sure you drag your little brother silver along with you, that would, of course, just be coincidental.