It looks like you're using an Ad Blocker.

Please white-list or disable in your ad-blocking tool.

Thank you.


Some features of ATS will be disabled while you continue to use an ad-blocker.


LBMA refusing to deliver 10 million in silver outside of the LBMA system!

page: 1

log in


posted on Aug, 23 2012 @ 07:54 PM
Thought this was noteworthy. The conversation starts at around the 12:50 mark.

The LBMA is the London based Metals market exchange. From what I gather, 2 different contracts requested delivery of somewhere between 5 and 10 million oz of silver, but the LBMA is not delivering, unless the silver is kept in their system..

Since paper metals are leveraged from 40 to 100 times what they have in stock, it seems quite clear that they either don't have the physical to deliver or don't want to let what they do have go.

There is also some issue as to whether people in PM stocks own allocated or unallocated PMs. If you have unallocated, which is the most common, you don't really own the PM, the bank does.

I don't have a broad understanding of the whole PM market, but to me, this seems like a big deal.
Got phyz?

edit on 23-8-2012 by SunnyDee because: (no reason given)

edit on 23-8-2012 by SunnyDee because: (no reason given)

posted on Aug, 23 2012 @ 08:29 PM
So hang on, isn't that what the concept of money was for ?

'it's your valuables, we'll just look after them. And we'll give you this'
(As the money says "I promise to pay the bearer of this note the sum of....")

'when you want your precious items, bring us the IOU's and you can have it'

But then when you go to get it you can't have it ?...........what's that ?'ve GOT to look after it for me ?

Hmmrphh there's something wrong with this system

A while ago I had some broker contact me trying to sell Rothschild's wine as an investment
lol as if
Then he tells me "oh we look after it for you, at one of our specialist wine storage a monthly price of..."

And they wonder why we're getting so p****d at them

edit on 23-8-2012 by Neocrusader because: Auto

posted on Aug, 23 2012 @ 08:33 PM
Nobody has any thoughts on this? EDIT: oops someone did post, cool.

So if this goes mainstream, the lack of delivery on contracts, don't you think there will be others following with requests for delivery and/or a sell off?

I think it could get ugly fast! But I guess if no one talks about it, they can keep up the charade and keep selling more PMs they don't have and you don't really own.

People will start requesting delivery more and more. I think many are just about to pull out of the markets, they know something is up.

edit on 23-8-2012 by SunnyDee because: (no reason given)

Edit again, but if there is a sell off due to no real metals available, who is going to buy worthless paper? Get out of paper metals is what I say, take delivery or sell right quick.
edit on 23-8-2012 by SunnyDee because: (no reason given)

posted on Aug, 23 2012 @ 08:40 PM
reply to post by SunnyDee

Oh no, everyone here thinks and talks about this .......hey your getting flags and stars .......but what else can be said that hasn't already, am I right in believing that audit the fed is going to check that they have the gold they say they do ?

Perhaps it's just abit quiet lol I saw your thread and didn't want your thread to be an empty page

posted on Aug, 23 2012 @ 08:46 PM
reply to post by Neocrusader

Well I don't know if everybody talks about PMs, but many do. I just think this could be a trigger for an explosion in PMs. Something has got to give, it makes no sense that with the ridiculousness of the entire market system anymore, that PMs are not off the charts. Basically telling us day after day, it's being manipulated. I suppose when it is no longer being manipulated we will have bigger problems than the going price for an ounce of silver/gold.

posted on Aug, 23 2012 @ 08:56 PM
You wanna know where to invest ?
Look at where the politician's do .......recently it's bio tech ......that alone is bad news .....and another topic

But the precious metals problem is world wide, it's on peoples minds and that of governments
Audit the fed, with holding of PM stocks, tungsten filled US stamped gold bars turning up !
To that I've heard that china is going to conduct a 10% check on its gold reserves for 'dodgy bars'
( 10% may be under - I'm thinking 16% but would rather state under rather than over )

The whole system is corrupt and broken

If it goes a bit pear shapped and it comes to people going to get their investment and getting refused enmass
Then yeah there's gonna be trouble .........but look around.......they're getting ready for that trouble

posted on Aug, 23 2012 @ 09:07 PM

or look at it like this..

If the paper silver cert is leveraged say just 20 to 1

(they sell 20 paper ounces for each physical ounce the bank has)

so the real asset price of that silver is twenty times the face value of the their physical holdings.....

so one ounce of silver is worth 20*FV= real value 20*25=$500

??? Silver is really worth $500 an ounce ????

sounds right for banker math

posted on Aug, 23 2012 @ 09:30 PM
reply to post by fnpmitchreturns

Sounds right to me.

Something will trigger a market crash, pick a card any card.....PMs, Commodities, fed audit, Euro crash,
Just keepin an eye. Those few extra days or hours of notice might help us regular people here.

top topics


log in