1) COMEX Default generates a "short squeeze" 2) All contracts obligated for physical delivery will demand delivery (legal fight to ensue) 3) LME (London's Metal Exchange) may also topple 4) CFTC to step in and try to restore confidence 5) No more speculators allowed to purchase silver (or futures contracts) 6) Physical Silver (spot prices) jumps dramatically, pick any multiple 7) Online Retailers and Mom/Pop shops are sold out 8) Commercial's are given priority for any new supply into the market 9) ETF's may be frozen and any physical silver could be confiscated to fulfill higher priority needs 10) ETF's will come under scrutiny if Silver Holding's fail to materialize and the ETF's tank in parallel to the (paper) Price 11) Law Suits will ensue 12) ETF silver holders will (if they are not busted) look for physical only 13) CFTC to rewrite Exchane Controls pertaining to Silver 14) Gold Exchange could also lead to a "short squeeze" 15) Major banks, hedge funds, who had *Naked Short* Positions will be killed 16) Certain "Rogue" Traders will be routed out and charged 17) Losses will be in the 10's of billions if not more 18) A Foreign Exchange (which does not have the same risk exposure) will be selected (at least for the interim) to replace the COMEX 19) Mining Stocks, both junior and senior with proven reserves and capital will sky-rocket 20) All hedged positions will become unhedged 21) Gov't to provide tax incentives and capital to startup's 22) Mining Rights, Off-shore mines to become nationalized 23) Ability to purchase physical silver will be extremely difficult if not impossible 24) Demand - Supply balance will be overweighted on the demand side for a period of months if not years (*certain variables we do not have visibility to changes this equation) 25) Certain industries are threatening to shut-down due to lack of supply 26) Some countries may make it illegal to purchase phsyical silver (Europe, Britain), leading to black market in PM's 27) Silver purchased for Jewelry may be deemed illegal 28) Banks / Countries may be forced to start hoarding physical Silver (US Stockpile reserves at this time is negligible). 29) 401K holdings of physical silver may be confiscated (these are reported to the Gov't / IRS), consequently they have visibility to what amounts investors have. *Silver is both vital commodity to many sensitive industrial usages and also strategic deployments in the Military. 30) US and Candian Gov't Mints will halt temporarily if not permanently minting Silver Coins
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