Silver Monitoring Thread £ (GBP) only.

[Spark268]

21 hours ago, Minimalist said:

Im fully convinced that the banks would still short dump Silver if nukes went off, deadly serious.

they can do that if they wish, but will have to stump up with the actual silver in exchange for fiat come delivery date !

Edited March 10, 2022 by Spark268

[Gruff]

Another day, another set of withdrawal notices from Bullion Vault, this time Zurich and London.

Gold from Zurich - 2,361 ounces

Gold from London - 795 ounces
Silver from London - 57,914 ounces or 1,800 kilo's  (60 1000 ounce bars)

Investors are getting rattled it would seem, even from private/non-bank owned vaults.  I wonder if this is to do with sanctions on wealthy Russians at all? 

[Spark268]

1 hour ago, Gruff said:

Another day, another set of withdrawal notices from Bullion Vault, this time Zurich and London.

Gold from Zurich - 2,361 ounces

Gold from London - 795 ounces
Silver from London - 57,914 ounces or 1,800 kilo's  (60 1000 ounce bars)

Investors are getting rattled it would seem, even from private/non-bank owned vaults.  I wonder if this is to do with sanctions on wealthy Russians at all? 

interesting, thx for sharing !

 

is it normal for BV to experience withdrawals?

[Gruff]

1 minute ago, Spark268 said:

interesting, thx for sharing !

 

is it normal for BV to experience withdrawals?

I've seen then occasionally over the last 6 or 7 years. But it appears that the frequency and volume of withdrawals has increased of late. I've never seen silver withdrawals as large as these  and not on consecutive days. I'll be keeping a beady eye out now and watching for further withdrawals to see if this is a pattern emerging or if it is simply a one off event

[Rains]

1 hour ago, Gruff said:

Another day, another set of withdrawal notices from Bullion Vault, this time Zurich and London.

Gold from Zurich - 2,361 ounces

Gold from London - 795 ounces
Silver from London - 57,914 ounces or 1,800 kilo's  (60 1000 ounce bars)

Investors are getting rattled it would seem, even from private/non-bank owned vaults.  I wonder if this is to do with sanctions on wealthy Russians at all? 

Nah mate that was just me i finally  wanted to build  my log cabin out of pure silver

[Gruff]

1 minute ago, Rains said:

Nah mate that was just me i finally  wanted to build  my log cabin out of pure silver

Aaah nice work pal! Good effort there  

[silversky]

2 hours ago, Gruff said:

Another day, another set of withdrawal notices from Bullion Vault, this time Zurich and London.

Gold from Zurich - 2,361 ounces

Gold from London - 795 ounces
Silver from London - 57,914 ounces or 1,800 kilo's  (60 1000 ounce bars)

Investors are getting rattled it would seem, even from private/non-bank owned vaults.  I wonder if this is to do with sanctions on wealthy Russians at all? 

I saw on RT that apparently some of Russia's gold reserves have been frozen.  No idea how much if indeed that's true.  One has to wonder how much they were foolish enough to hold in someone else's bank vault?  I recall the Germans found that repatriating their gold from the USA was near impossible.  Not sure if they ever got it all back?  I seem to remember some multi year deal being struck to get it.  Clearly something was up with that and if a country can't manage to get their gold back, what chance would smaller investors have?

Edit: There's a lesson somewhere here...  Something like Hold it Own it!  

Edited March 11, 2022 by silversky

[Spark268]

3 minutes ago, silversky said:

I saw on RT that apparently some of Russia's gold reserves have been frozen. 

according to Roman Manly, the most likely explanation for the freeze in Russian gold is due to the cold weather, as its not for sale.

3 minutes ago, silversky said:

recall the Germans found that repatriating their gold from the USA was near impossible.  Not sure if they ever got it all back? 

Although some remains, the repat effort was completed ahead of schedule.

Edited March 11, 2022 by Spark268

[Gruff]

4 minutes ago, silversky said:

I saw on RT that apparently some of Russia's gold reserves have been frozen.  No idea how much if indeed that's true.  One has to wonder how much they were foolish enough to hold in someone else's bank vault?  I recall the Germans found that repatriating their gold from the USA was near impossible.  Not sure if they ever got it all back?  I seem to remember some multi year deal being struck to get it.  Clearly something was up with that and if a country can't manage to get their gold back, what chance would smaller investors have?

 

Yep, the Americans have brought a bill to congress to prevent gold being sold, but they failed to in blocking it being used as collateral in finance deals, which is a technicality but one that surely will be exploited.
Russia has been a net buyer of gold for a long time. I think we might soon find out how much gold they really have!

2 minutes ago, Spark268 said:

according to Roman Manly, the most likely explanation for the freeze in Russian gold is due to the cold weather, as its not for sale.

Indeed, in a Siberian winter

An interesting article from Egon von Greyerz is below, a bit gloomy but a realistic look at the state of the global economy and how these sanctions against Russia but end up being the black swan we've heard rumours of for so long.

https://www.zerohedge.com/geopolitical/von-greyerz-dark-years-are-here

If Russia and several other Asian countries come out in support of a gold standard, or gold and silver that could have serious ramifications for us hodlers/stackers and general lovers of PMs. But it would collapse the entire global FIAT ponzi scheme in one swoop. 

It sure is an interesting time to be alive. we are, I feel, at the in the end game of the current money game

[silversky]

1 minute ago, Spark268 said:

Although some remains, the repat effort was completed ahead of schedule.

How can it be completed if some remains?  I got the feeling that the deal was about appeasing the USA by not demanding all of it.  When you have to strike a deal that doesn't include full payment of debts, it's some sort of write down.  Maybe in the future they'll get the rest, or at least be able to use it as leverage in another deal, but I doubt it.  When clawing back debt from a bad debtor, one has to be careful not to scare the horses.

[Spark268]

12 minutes ago, silversky said:

How can it be completed if some remains?  I got the feeling that the deal was about appeasing the USA by not demanding all of it.  When you have to strike a deal that doesn't include full payment of debts, it's some sort of write down.  Maybe in the future they'll get the rest, or at least be able to use it as leverage in another deal, but I doubt it.  When clawing back debt from a bad debtor, one has to be careful not to scare the horses.

who knows, perhaps instead of the remainder freezing, it got erroded by the atlantic winds

[Spark268]

moving the topic back to silver, according to this update (which is difficult to read due to caps), most of the silver traded in London comes from Russia, so there might be difficulties going forward, as it will have to come from comex (or apparantly BV also?)

 

https://www.silverdoctors.com/silver/silver-news/silver-comex-under-siege-us-set-to-freeze-russian-gold-reserves/

 

[Gruff]

5 hours ago, Spark268 said:

moving the topic back to silver, according to this update (which is difficult to read due to caps), most of the silver traded in London comes from Russia, so there might be difficulties going forward, as it will have to come from comex (or apparantly BV also?)

 

https://www.silverdoctors.com/silver/silver-news/silver-comex-under-siege-us-set-to-freeze-russian-gold-reserves/

 

I don't see BV in the article. I've searched as well. But not sure. BV is simply a bonded warehouse and is stores PMs. It might have sellers that will sell to the LME. Not sure, but if so I would expect that to come from their London vault if it needs transferring to an LME vault. However, with BV if you have sufficient weight of silver, you can reserve a 1000 ounce bar with serial number and that bar gets allocated against your "internal BV" name, that can be seen on your account. This can be tracked on the daily list that is available of what bars are physically allocated to customers. This then means that they aren't used to as fractional bars to sell to other customers.

[Rains]

On 11/03/2022 at 11:29, Gruff said:

Yep, the Americans have brought a bill to congress to prevent gold being sold, but they failed to in blocking it being used as collateral in finance deals, which is a technicality but one that surely will be exploited.
Russia has been a net buyer of gold for a long time. I think we might soon find out how much gold they really have!

Indeed, in a Siberian winter

An interesting article from Egon von Greyerz is below, a bit gloomy but a realistic look at the state of the global economy and how these sanctions against Russia but end up being the black swan we've heard rumours of for so long.

https://www.zerohedge.com/geopolitical/von-greyerz-dark-years-are-here

If Russia and several other Asian countries come out in support of a gold standard, or gold and silver that could have serious ramifications for us hodlers/stackers and general lovers of PMs. But it would collapse the entire global FIAT ponzi scheme in one swoop. 

It sure is an interesting time to be alive. we are, I feel, at the in the end game of the current money game

What would the possible ramifications  be for holders like us

[HerefordBullyun]

5 minutes ago, Rains said:

What would the possible ramifications  be for holders like us

If a world financial crisis ensued every government would be after your metals. Period.

[Gruff]

1 minute ago, Rains said:

What would the possible ramifications  be for holders like us

In terms of holders of Russian silver? Anything produced before the 7th March is fine apparently, but wuite how they're able to tell I have no idea. Unless 1000 ounce bars have a poured date stamped on them. What this will do is add pressure to already tight supply from what I can tell. That should in theory push the price up as there will be more demand for less supply so basic economics should kick in. But who knows. The banks probably have other ideas. 

However that said the demand for physical seems to be high. You only need to look at Apmex or watch a YouTube video with Andy Schetchman from Miles Franklin and he will confirm how crazy the demand is and at the same time how they are struggling to get product. 

I think Chris Marcus posted something on Twitter today showing that the RCM now states that Maples are on pre-order with an expected delivery date of 7 weeks out. So that to me reinforces the supply side issues and tight supply even before this ban on Russian silver kicks in. 

I think we're going to be in for an interesting but bumpy few months.

[Gruff]

5 minutes ago, HerefordBullyun said:

If a world financial crisis ensued every government would be after your metals. Period.

It's a pity I lost my stack in a boating accident  

[Rains]

3 minutes ago, Gruff said:

In terms of holders of Russian silver? Anything produced before the 7th March is fine apparently, but wuite how they're able to tell I have no idea. Unless 1000 ounce bars have a poured date stamped on them. What this will do is add pressure to already tight supply from what I can tell. That should in theory push the price up as there will be more demand for less supply so basic economics should kick in. But who knows. The banks probably have other ideas. 

However that said the demand for physical seems to be high. You only need to look at Apmex or watch a YouTube video with Andy Schetchman from Miles Franklin and he will confirm how crazy the demand is and at the same time how they are struggling to get product. 

I think Chris Marcus posted something on Twitter today showing that the RCM now states that Maples are on pre-order with an expected delivery date of 7 weeks out. So that to me reinforces the supply side issues and tight supply even before this ban on Russian silver kicks in. 

I think we're going to be in for an interesting but bumpy few months.

Very interesting  so supply chain issues and demand is up but prices do not reflect this due to all the paper silver thanks gruff always interesting  looking at it and I will  check those people out i would expect Silver to be alot high if they are have issues delivering it 

[silversky]

4 minutes ago, HerefordBullyun said:

If a world financial crisis ensued every government would be after your metals. Period.

Such a shame that I lost most of my metals in a boating accident.  Still, they can have my stack of copper 1's and 2's.  I've been waiting for them to fall off from being legal tender so I can scrap them... 

[HerefordBullyun]

1 minute ago, Gruff said:

It's a pity I lost my stack in a boating accident  

I dont own any metals

[Rains]

1 minute ago, Gruff said:

It's a pity I lost my stack in a boating accident  

What metals i have no idea

[stefffana]

Just now, HerefordBullyun said:

I dont own any metals

Of course, you are selling them tube after tube.😊

[HerefordBullyun]

Just now, silversky said:

.  Still, they can have my stack of copper 1's and 2's.

The melt value is still worth more than what they hold now.

[Minimalist]

9 minutes ago, HerefordBullyun said:

If a world financial crisis ensued every government would be after your metals. Period.

Lost mines in a North Sea boating accident.

[Rains]

1 minute ago, HerefordBullyun said:

The melt value is still worth more than what they hold now.

How about £22 per monkey 😄😄