Revolution 2.0

[jt6455]

"Looking specifically at silver, we have a true potential atomic bomb in the works for July. COMEX claims to have 22,482,000 ounces registered and available for deliver. This number is an ALL TIME low for “registered” ounces. To put this number in perspective, it is less than $400 million dollars and only about 10 days of global production. Also in perspective, customers have already withdrawn 12,244,000 ounces of silver in just the first 8 days of June! Finally, the real shocker is the July contract.

First, the open interest for July of over 107,000 contracts is more than 50% of the entire open interest. This represents over 536 MILLION OUNCES! Do you realize this amounts to over 60% of total global production on just one bourse and in just one single month? Obviously there will not still be 536 million ounces standing for delivery by July 1st, but as it stands now there are contracts open to deliver 24 ounces for every 1 ounce registered for delivery."