Let’s lay out the timeline above one more time, because it deserves it. Thanksgiving night: the CME halts ALL futures trading for 10 hours on a “cooling issue,” right as silver breaks out to record highs. Trading resumes JUST after 8:30 am, the very moment the Fed’s Standing Repo Facility hands out $24.4 BILLION in emergency liquidity. Two business days, $49.4 billion total. We asked the question in the headline because nobody official was going to ask it for us.
Update: two guests later put their own read on that week, on the record. Vince Lanci on JP Morgan pulling roughly 14 million registered ounces off the table that Black Friday: “I characterize it as a default. Somebody wanted delivery of the silver, and JP Morgan said, no, we’re not giving it to you” (17:40). His characterization, offered with “I have no proof of this,” and worth exactly that framing. And SD Bullion’s James Anderson noted reports that the bullion banks’ trading desks “made the most profit… that they’ve ever made this past year” (17:22).
What isn’t speculation: silver ran from here to $121 in eight weeks. Somebody’s shorts were burning. The receipts above are why we asked.
The Fed Standing Repo Facility Was Tapped for ANOTHER $25 BILLION Monday Morning!!
As most of our readers are well aware, on Thanksgiving night, the CME halted all futures trading for 10 hours, just as the price of silver was breaking out to new all-time record highs.
The CME claimed a “cooling issue” had forced them to shut their servers for hours…but coincidentally, the CME resumed trading JUST AFTER 8:30 am EST, when the Fed Repo Facility was tapped for $24.4 BILLION in emergency liquidity:
$49.4 BILLION in emergency liquidity injected into the banking system over the past 2 business days- coinciding with a massive SHORT SQUEEZE in silver!
Where there’s smoke, there’s often fire.
Are the bullion banks’ silver short positions BURNING THEM ALIVE!?!
