You know, you got way, way less than one country plans and importing
this year.
And this is what we base, the price setting across the globe.
They are running a rehypothecation scam and it's comex, should rhyme
with ft x because it's the same damn thing.
I can see the Finish Line, the endzone feel like I'm dragging the
whole defensive team running trying to make the End Zone here for the
end of the year.
You know it's it's been an amazing year.
It's been an amazing three years.
It's been an amazing time to try and make commentary on what's
happening.
It's also simultaneously thumb, one exhausting and I'd be lying if I
said I wasn't really kind of
Excited for the holidays and to be with family.
And as I was joking with you and bring on the eggnog, you know, I just
it's this has been a.
This is a this has been an interesting time where so much is
happening.
We often talk about that you and I where the beginning of my career
just seemed that things didn't happen, very quickly, that there would
be one or two things to talk about maybe a quarter.
We were lucky.
And yet every day, it seems the acceleration of the things that I've
been talking about with you for three years and other things that just
pop, out of The Ether, that some of, which just make you shake your
head.
In amazement wondering, you know, where are we?
We in Bizarro land or, I don't know, but I must say that it's been a
fun ride.
I'm very, very excited to see where
t23 takes us.
I think there will be a lot to talk about.
I really do.
Believe it will be the year of the bricks but a couple of days off
your over the next 10 days is something.
I'm really looking looking forward to.
And yeah well I don't think back a few weeks ago the UK reversing
course coming in to bail out the Pension funds in the bond market.
Think about the you know you go back and think about how many times
Times we've had this conversation over the debt ceiling.
It's just an absolute farce and these are the kinds of reasons.
These are the things that I think are incentivizing the brics Nations
to move away from the West who just are able to make the rules and
break the rules.
And whenever they want to have fit fit, their agenda.
And that agenda is is of continuing manipulation of Mother Nature, and
the markets, and interest rates oppression, you know, all of
of this boils down to
the ramifications that are associated with.
Over a decade of suppressing, interest rates by all the Western banks
in other Comics, is come out of the CME Group has come out last year
and they told us that the goal in the eligible category should be cut
in half when trying to figure out how much could actually be
transferred to registered, and they just basically said the same thing
about silver.
Let me explain what that means.
So you have eligible and you have registered.
We've talked about this before register, the bars that are available
for delivery and I'm cold
Max they have been drawn down by somewhere in the neighborhood of 75
percent.
Over the last 18 months about 33 million plus Oz.
India will import 300 million ounces this year?
The entire comex Warehouse system has, under that amount.
I believe I haven't looked last few days, but I do believe it's under
about 300 million ounces.
So India will important as much as comex has an
All of its vaults.
However, of the 300 million ounces that are in the eligible category,
let's say of just under that they're telling us that half of it should
be discounted.
In other words half of it belongs to people like me and I ain't
selling it or people like Elon Musk.
He ain't selling his silver or hedge funds or whoever strong hands.
Let's say maybe a hedge funds, not the best example.
Let's say a
Family office who just wants the exposure.
The metal, they're not selling it.
So when you talk about registered ineligible and we've talked about
this before, the reason to leave your medal in a comex warehouse would
be in my opinion at this point.
Knowing the massive draw down.
The reason to do it would be to take advantage of an industrial buyer
if you own thousand ounce bars in silver.
And I think there will come
Moment where you will find industrial buyers making very substantial
offers to Holders of thousand ounce bars in the eligible category.
Now you could then very quickly and promptly and efficiently transfer
to the registered category which will then allow it to to be
purchased.
Now to your point about changing the rules, this is what happened to
the Hunt Brothers, very similar situation than we see right now, you
know, a few weeks ago the
Registered category had eighteen hundred percent more contracts
written against it than there were bars to be delivered.
17 people get cash, one gets the bar.
If they allow it to go that far and then whole mix is empty.
If it came down to that and it's the same thing, the Hunt Brothers
noticed in 1980, they noticed there were far more contracts than bars
in the vault.
So they bought they bought as much as they could and demanded
delivery.
When does the, the force?
We're Happened.
One does the cash settlement happened?
But these is the CME Group and the banks that are part of it or not,
going to eat themselves.
It will happen before it runs out of silver, they will just not allow
deliveries any longer at which point comex is rendered a complete scam
and that's probably when you'll see the rise of the Moscow exchange
and this is the perfect time for them then to Peg their a.m.
and p.m.
I'm fix that much much much higher prices.
The Arbitrage would be fantastic as all the metal in the west would
flow Eastward to try to take advantage of that big increase in price.
They already own the majority of it, this would be the coup de gras
but you're right when you realize that 33 million ounces for delivery
and 300 million which were told should be cut in half based upon
At least half of it is not for sale.
So, in total, you know, you got way way less than one country plans
and importing this year.
And this is what we base, the price setting across the globe on.
It's a farce it's a scam and here again, when you listen to what the
Russian Finance Minister talked about, in building the new Moscow,
Metals exchange is exactly what we're saying here.
You said this exchange will be used to fight
Overt manipulation of the Western Metals Market by the, by the few key
players, this is the rallying cry.
The drumbeat, if you will, that get everyone to the room, and then
when the door is closed, and they say, how do we beat them without
firing a weapon easy, our new distributed Ledger technology, we Peg.
All of us, pet Commodities to it in equal amounts.
So, not China or Russia has more say than any of us, but we
all have equal say, based upon what we are pledging.
The new bricks currency in the whole world can see it on the
distributed Ledger that we show to the world.
I mean, it's so obvious that this is where we are going, but it's more
of the same and comex is no different.
They are running a rehypothecation scam and it's comex should rhyme
with ft x because it's the same damn thing.
There's more paper than there is the real thing backing.
And if everyone says I want it just like Bernie madoffs clients did
got a problem Houston.
We got a problem and that's exactly where we are right now with the
comex market.