Someone sold $2 Billion worth of silver futures contracts.

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EagleEye
EagleEye Posts: 7,677 ✭✭✭✭✭
in Precious Metals

From Zerohedge

"Silver investors were gaining confidence and dealers were experiencing robust demand for silver coins and bars. Suddenly at almost exactly 1630 GMT yesterday as European markets were closing, some entity decided to dump $2 billion worth of silver contracts into the futures market in minutes. A huge 23,000 silver contracts which is the equivalent of 1.15 million ounces of silver was dumped on the market"

Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
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  • EagleEye
    EagleEye Posts: 7,677 ✭✭✭✭✭
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    115 Million Ounces…Not Even Close To Possible!

    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    We have seen this movie before , it was a Sunday night in Asia

  • Billson
    Billson Posts: 78 ✭✭✭
    edited March 5, 2017 12:14PM
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    ZeroHedge is saying 1.15M ounces but jsmineset is saying 115M ounces, a big difference. I am leaning toward 115M. Which is the correct number? Looking the chart, there was a big drop right before 12 noon.

    Successful BST transactions:
    Buy and sold to Wondercoin,
    Buy from: mbogoman, sol15g

  • EagleEye
    EagleEye Posts: 7,677 ✭✭✭✭✭
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    $2 Billion equates to 115 million ounces - 1.15 million oz is normal daily acitivity

    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • BAJJERFAN
    BAJJERFAN Posts: 31,659 ✭✭✭✭✭
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    1.150 million ounces would be 50 ounces per contract and about $20 million worth. Chump change for rawteam.

    theknowitalltroll;
  • CCC2010
    CCC2010 Posts: 1,997 ✭✭✭
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    To those who are savvy at this ...did it have any effect on the silver prices? What does it intend to accomplish?

    References:Coinsarefun,DerryB,Bloodman,Zubie,Gerard,Skyman,Bestclser1,Lakesammman,Yellowkid,PerryHall,Piecesofme,HTubbs,grote15
    Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
    Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    @CCC2010 said:
    To those who are savvy at this ...did it have any effect on the silver prices? What does it intend to accomplish?

    Rapid drop of 71 cents per oz. The intention is to shake the weak hands out of the tree. Many of those weak hands that were holding are now sellers and many of those looking to buy are having second thoughts.

    Hammer it down and let fear do its job. I'll be taking advantage of the fire sale.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • CCC2010
    CCC2010 Posts: 1,997 ✭✭✭
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    Thanks for the response derryb. Much appreciated.

    References:Coinsarefun,DerryB,Bloodman,Zubie,Gerard,Skyman,Bestclser1,Lakesammman,Yellowkid,PerryHall,Piecesofme,HTubbs,grote15
    Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
    Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
  • rawteam1
    rawteam1 Posts: 2,472 ✭✭✭
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    @CCC2010 said:
    Thanks for the response derryb. Much appreciated.

    Bro, do your best not to buy into that infantile theory/fantasy/fairy tale... hmmm a trifecta...

    keceph `anah
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    It only happened because I bought a monster box the week prior. No biggie.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    gold fell
    silver fell

    both tanked

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    and silver is now about 15 cents higher than after that drop

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • piecesofme
    piecesofme Posts: 6,669 ✭✭✭
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    It's PAPER people, just remember that. Sure, it will have an effect, but what happens every time this happens with PAPER? The premium goes up for physical, that's all. Rest easy and buy if you can afford to.

    To forgive is to free a prisoner, and to discover that prisoner was you.
  • EagleEye
    EagleEye Posts: 7,677 ✭✭✭✭✭
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    It's paper, but it is also driving the speculation in the silver market. If the trade was meant to hurt the silver market it would have been dripped out over a few months. It looks like a institution or Government just wanted out. Taken with the mega sale in gold just after the election, these were troubling trades for what we don't know that the sellers do know.

    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • rawteam1
    rawteam1 Posts: 2,472 ✭✭✭
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    Seems you only have one eye Eagle...

    keceph `anah
  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Such fun to watch these things... and always, the conflicting opinions... Cheers, RickO

  • BAJJERFAN
    BAJJERFAN Posts: 31,659 ✭✭✭✭✭
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    @rawteam1 said:
    Seems you only have one eye Eagle...

    In the land of the blind, the one-eyed man is King.

    theknowitalltroll;
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
    edited March 6, 2017 12:46PM
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    It's an opague market. If a government wanted out, my observation is - why a government wanted in at all - since there's no legit reason for a government to be playing in commodities. A better explanation is that paper is only being used to jerk the physical market around. But we already knew that decades ago.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    @jmski52 said:
    It's an opague market. If a government wanted out, my observation is - why a government wanted in at all - since there's no legit reason for a government to be playing in commodities. A better explanation is that paper is only being used to jerk the physical market around. But we already knew that decades ago.

    they're not playing in commodities. They are weakening dollar competition by having their proxies play the gold paper market when it strengthens.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    how did it get to $1900 then?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    they let it. the banks doing their dirty work get to make a profit so that it is worth their while.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    They!!!!

    Damn them!!

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • roadrunner
    roadrunner Posts: 28,374 ✭✭✭✭✭
    edited March 7, 2017 11:21AM
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    "They" also collected $202 BILL in otc silver derivatives back in July 2009. That was JPM at that time after they added the BSCos silver positions to their own. At that time, it was the equivalent of 13-14 yrs of world annual silver production....back when silver was $19/oz. So a measly $2 BILL is only 1/100th the size JPM unloaded on the market from July-November 2008....end result was a 55% drop in silver prices. Even Warren Buffett accumulated approx 130 MILL physical oz of silver from 1994-2006....documented by Armstrong and others. They were the "super secret" silver buyer at the time. I think everyone knew but the USGovt. Who later "persuaded" to dump that position and start getting heavier into Bank Stocks and banking otc derivatives...lol. Buffet probably had as many physical ounces as the Hunts did in 1979. One of them is a hero....the other scorned and mocked. The Hunts never broke the law. Not sure about the other guy.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    Buffett? That guy? I wouldn't put anything past him.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    damage. someone could have laid into it with a tough blade.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    Reason for decline....I waited for silver to drop before I purchased the latest 5 oz bullion ATB. Should have waited a while longer. :/

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    It appears, that the seller(s) knew something that most of us didn't, or is it simply a temporary supply & demand situation?

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    @OPA said:
    It appears, that the seller(s) knew something that most of us didn't, or is it simply a temporary supply & demand situation?

    seller(s) new they could buy back cheaper and do it all over again when the red phone rings.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @derryb said:

    @OPA said:
    It appears, that the seller(s) knew something that most of us didn't, or is it simply a temporary supply & demand situation?

    seller(s) new they could buy back cheaper and do it all over again when the red phone rings.

    Yup, it's a conspiracy!!! Lol

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    You guys aint got nothing on conspiracies . I ran into a guy at a coin shop yesterday that was a conspiracy fountain . :D . We were both waiting while the owner dealt with someone ahead of us. I like to encourage people for my own amusement . This guy was so far down the rabbit hole , it was breathtaking. Common silver manipulation doesn't interest him , he literally believes that the earth is not a globe , that every space photo ever printed is a hoax and the earth is the center of the universe.

    HE even showed me a website , I won't link to it but anyone who wants a few laughs can google nasamoonhoax

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
    edited March 9, 2017 9:11AM
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    Bronco...I think that guy was a former forum member. Was his name Stan?

    Or who was the nuckle head that made a YouTube video trying to explain the Grand Canyon was formed by water schlossing back and forth as the Earth traveled thru some sort of warp field? That dude truly was hilarious.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • roadrunner
    roadrunner Posts: 28,374 ✭✭✭✭✭
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    @bronco2078 said:
    You guys aint got nothing on conspiracies . I ran into a guy at a coin shop yesterday that was a conspiracy fountain . :D . We were both waiting while the owner dealt with someone ahead of us. I like to encourage people for my own amusement . This guy was so far down the rabbit hole , it was breathtaking. Common silver manipulation doesn't interest him , he literally believes that the earth is not a globe , that every space photo ever printed is a hoax and the earth is the center of the universe.

    There's a current well known NBA player with similar beliefs. Earth flat...etc.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    @cohodk said:
    Bronco...I think that guy was a former forum member. Was his name Stan?

    Or who was the nuckle head that made a YouTube video trying to explain the Grand Canyon was formed by water schlossing back and forth as the Earth traveled thru some sort of warp field? That dude truly was hilarious.

    I don't know if it was Stan , but I told the guy my name was derry just in case he tried to get a hold of me.

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Haha

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    @jmski52 said:
    Buffett? That guy? I wouldn't put anything past him.

    Yeah... he was doing lunch with Obama yesterday in my town. I'm surprised there was no auction on eBay for that outing.

  • BAJJERFAN
    BAJJERFAN Posts: 31,659 ✭✭✭✭✭
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    @TwoSides2aCoin said:

    @jmski52 said:
    Buffett? That guy? I wouldn't put anything past him.

    Yeah... he was doing lunch with Obama yesterday in my town. I'm surprised there was no auction on eBay for that outing.

    Who bought lunch?

    theknowitalltroll;
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    he was doing lunch with Obama yesterday in my town

    He does realize that Obama is no longer president, doesn't he? Or, was this just the two of them discussing their pipeline investments?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BAJJERFAN
    BAJJERFAN Posts: 31,659 ✭✭✭✭✭
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    @jmski52 said:
    he was doing lunch with Obama yesterday in my town

    He does realize that Obama is no longer president, doesn't he? Or, was this just the two of them discussing their pipeline investments?

    Nah, I think they were going over their brackets.

    theknowitalltroll;
  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    @BAJJERFAN said:

    @TwoSides2aCoin said:

    @jmski52 said:
    Buffett? That guy? I wouldn't put anything past him.

    Yeah... he was doing lunch with Obama yesterday in my town. I'm surprised there was no auction on eBay for that outing.

    Who bought lunch?

    The one who can write it off of his taxes as business expense. :D

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • DoubleEagle59
    DoubleEagle59 Posts: 8,433 ✭✭✭✭✭
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    Maybe they plan to team up next election and run against Trump!

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Someone bought $2 Billion worth of silver futures contracts.

    Just sayin....

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
    edited March 16, 2017 12:20PM
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    @cohodk said:
    Someone bought $2 Billion worth of silver futures contracts.

    Just sayin....

    Most likely same outfit that sold them earlier for a profit. Run it up and profit again. Wash, rinse, repeat. If there wasn't something in it for the FOMC's bidders they wouldn't do the FOMC's bidding.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Damn they!!!

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    @cohodk said:
    Damn they!!!

    Analysis of how "they" do it.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • rawteam1
    rawteam1 Posts: 2,472 ✭✭✭
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    Those that aren't they, are insane...

    keceph `anah
  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @derryb said:

    @cohodk said:
    Damn they!!!

    Analysis of how "they" do it.

    If you want someone to believe a lie just keep telling it over and over again. And if you want to look sane just surround yourself with people crazier than yourself.

    Kinda like microwaves that turn into cameras. Lol

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    It takes one unhappy camper to believe that everything he is too blind to see is a lie.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    Nah, they just use microwave towers to frontrun their clients. No need for cameras.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.

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