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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: 1+1=0

1+1=0

posted on Jun 23, 2009 06:10PM

Here are two quotes from tonight's Midas.

First: "Lease rates for gold are back in the green, after going negative at the end of May. Silver is still negative in the 30 day and 60 day lease term periods. This negative lease rate is consistent with my theory that the Comex has a shortage of silver that it can deliver to parties who want to take custody off the Comex, as central banks are trying to "force" silver onto the market by paying lessees to take silver. Our fund is still waiting for the delivery of ONE single May contract. Last delivery day was May 29 and we have prepaid for the cost of delivery from the Comex to our depository. Given the backwardation we saw in silver recently and the fact that we can't get our silver delivery from the Comex, I think it is unquestionable as whether or not the Comex is reporting fraudulent inventory numbers and there is a brewing shortage of physical silver.

And then we get: "SILVER

ZERO ozs withdrawn from the dealer’s inventory
262,325 ozs (net) withdrawn from the customer inventory
Total dealer inventory 63.4 Mozs
Total customer inventory 54.9 Mozs
Combined Total 118.3 MOZ

So one customer can't get delivery of one contract (and he reported last week it was because the crimex was too busy). Yet we see that the crimex has made no deliveries.

They want us to believe that 1+1=0, but the way I add it up is that the crimex is crooked. Does the taxpayer actually pay the CFTC?

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