SILVER 0.30% $15.25 silver futures

jason hommel alleges

  1. 24,765 Posts.
    Silver Market Updates

    Silver Stock Report
    by Jason Hommel, December 21st, 2009

    Once again, the BIS data on derivatives is totally ignored by all gold and silver market participants and commentators. Nobody mentioned this new BIS data update from my last newsletter.

    The BIS data proves the huge extent of the fraud in the banking system, particularly in all forms of paper silver accounts.

    The "other precious metals" derivatives notional value, which are mostly all silver, (but also tiny amounts of platinum and palladium) grew, over the last 6 months, from $96 billion to $203 billion, for an increase of $107 billion.

    But the size of the silver market cannot be significantly larger than annual production, which stands at about 600 million ounces, x $17/oz. = $10 billion.

    Simple question: How can the banks of the world, owe $107 billion more in brand new "mostly silver" derivatives positions over a 6 month time frame, given that world annual production stands at a mere $10 billion, without that silver being mostly all fraud?

    http://www.bis.org/statistics/otcder/dt21c22a.pdf

    Scroll to the last chart.

    This "paper silver selling" is fraud, it is inflation, it is hyperinflation, it diverts investment demand away from real physical silver.

    This paper silver selling suppresses real silver prices.

    Full article at http://silverstockreport.com/2009/BIS-and-updates.html
 
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