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  two days into the December delivery month and there's already been 23,970 um uh gold contracts that have stood for delivery. That's 2.397 million ounces and plus 8,35 silver contracts or 41. >> Welcome to Gold Silver News, your go to destination for all things economics and finance. Whether you're an experienced investor, an inquisitive student, or just someone who wants to stay ahead in today's everchanging economic landscape, you've come to the right place. Now, we'll show you the best scenes of the

latest interview. But first, smash the subscribe button, hit the like button, and send us super thanks if you find our daily recaps valuable. Enjoy the episode. >> 525,000 Troy Oes issued and stopped so far, and the month has just started. Uh it's it's also relevant to note that in November, which um I would say was not normal, um the silver deliveries um ended the month at just under 20 million ounces, about 19.7 million, which it's really crazy because November is not a scheduled delivery month for either

silver or or gold. There was 1,267,000 ounces of gold um delivered, issued, and stopped is the correct terminology. Um but you know, the first day this this this month, the December contract, day one, we saw 7,330 contracts stand for delivery in silver, which is 36 almost 37 million. Um that's more than $2 billion worth. And although it's not a record, it's close to it. April was the biggest record of just under 12,000 contracts, but to see a 2-day, you know, that's day one and two-day obviously added the more, but um

it's just insanity where there's already been 2.4 million ounces of gold and almost 42 million ounces of silver delivered in 2 days. This is the same type of volume that we've seen all year long. And you know, it's funny. You and I started talking about this in in 2020 before anyone did. And now it's just mainstream. And well, mainstream in our business. And um I think this will continue until it doesn't, meaning until stuff is just depleted. And it's becoming more and more obvious that this

is an imminent deal. At the same time, you have one of, if not the largest short position um in Col futures market um you know along with a massive short position in SLV, one of the largest ever. And at the same time you have the LBMA uh which is running on fumes and um you know it's a situation where the delivery v mechanisms are breaking down um almost 90 million ounces have been delivered off of COMEX this this year and um or excuse me since October pardon me. Um, and I I don't know, since October 1st,

90 million, it's it's accelerating at a level that I don't think people understand or take for granted. And I I think the way that you break that up is is just to simply say that um, you know, let's make an analogy, right? Uh, for years, everyone pretended that let's call it um, let's call it a cardboard box was full of cookies. There's a picture, a cookie on the outside. And the thing of it and and they would trade that. But now everyone is saying, "No, I want the

cookies." And people are realizing that the box is pretty much empty. And when that happens, this this pretend cookie game, which you could call the derivatives, falls apart and real cookies, gold and silver, become much more valuable. And that's why prices are rising. Um, and why the dollar and other currencies may look weak when the truth comes out. So yeah, I think um it's a big deal. Uh there was this report that JP Morgan shifted its offices to Asia in the middle of the night that they were

told that the people had like five days to move their their family and everything to Singapore. I believe that is false. So I everything that I'm f reading tells me that that's not true. I guess we'll find out and we will see. But I know a lot of people have been asking about that. Um the bottom line then again to me is that the market runs on trust and when you believe that you'll get delivery of what you were promised um and and that trust has been built up over decades then the system

works and you buy a contract you can stand for delivery. The metal's there. That's why COMX has set the price of gold and silver forever. And the analogy is like a bridge that handles a whole bunch of weight until it doesn't. Like the 35W bridge in Minnesota that collapsed that I drove over 5 million times. And you're witnessing that in London. You're observing that in the comics now. And I don't know. I believe that um I think that this is going to be a narrative that gains a lot of momentum

over the coming weeks and months. Um, I think that the valuation of silver is just starting. I genuinely, honestly, truly do. Uh, and that nonsense of a shutdown, um, a malfunction and an outage of air conditioning at the CME, a cooling breakdown is a pile of rubbish because only the metals markets went offline. You know, the other CME arenas like the bonds and the FX and the repo and the equity futures, well, they remained operational. It was a technical malfunction confined to only one asset category uh and low volume that day yet

the entire thing crashed. Um to me it's simply showing you that things are fracturing and um I don't know I believe that this is just the start. We saw 12.5 million ounces were shifted out of the comx registered class on November 26th. Uh so you know where is it heading? Who's acquiring it? Um how trapped are they? These are the matters that I would be concentrating on right now. To me, that's the most crucial thing to discuss today. I would just plainly say that if a market loses confidence in how prices

are determined or if it can abruptly alter the rules, then the price discovery will shift elsewhere. And to me, all pathways lead to the same destination, and that's Shanghai, which becomes the pricing engine for physical silver. It will replace the comics. And you know when you play these schemes, we've observed it now in London with the nickel market. We're noticing it here. It's what they did to the Hunt brothers. They altered the rules. They'll increase margin demands. They'll execute all of

these things. But when you ultimately witness um you know, when you ultimately witness a collapse of confidence, a massive rupture in trust, uh I believe that transition will occur. And you know we'll kind of mirror London losing its hold on oil pricing and shifting to the NYX and you know they controlled it for a long period. Now they are an afterthought. The identical thing will occur here. I believe that the world will be so will be so um outraged if you will by the fact that this has been a

manipulation that has been executed for a long period by the west that it will migrate to the region of the globe that uh you know the center of influence will shift towards Asia I suppose is what I'm attempting to say. So yeah I think that that's going to occur. I don't know when, but ultimately in a world of likelihoods, I'd assign a high level of assurance on that that at some point it simply moves to the region of the world that is cash and carry instead of promises and rehypothecation. In other

words, you purchase in Asia, you pay your funds, you receive your bars, and off you go. And before you acquire it, you must buy a bar from one of the pre-authorized refiners and they laser engrave the number of the contract that you possess on that bar. There are no tricks there. It's entirely about tricks here in the West. Well, you know what's notable? The chart analysis would say you take the cup and handle when it breaches the handle, which it has at over 50 bucks, that you take the top of

the cup in 1980, which was 50, the bottom of the cup, which was four bucks in the '90s, and the variance is 46. you add it to the top and that would indicate $96 would be the next chart resistance level if any or that would be the implied next destination. And if you take a 42:1 ratio right now, or even call it 45:1, where it's average for the past 100 years, the silver to gold ratio, even though it's been mined for 5,000 years, it's 16:1 and now it's 7:1. Meaning it's thinning in nature, the

valuation ratio, because mainly due to in the western sphere, gold's function as a monetary metal and silver's role in industry. It's averaged roughly 45 to1. So you take gold today at 4240 and divide by 45, it's 95 bucks. Well, isn't that fascinating? Um, that would be where it would signal you to go where you take the top minus the bottom, which is 46, add it to the top, that would say 96 bucks. So I mean, if you were to witness silver at the end of the year at $96, it would not be unrealistic at all.

And if you take 42.40 40 and divide by 7, it's going to be somewhere around 600 bucks, 6005. As unbelievable as that sounds, that would align with the geological ratio right now. So yeah, I think silver is the asset of an era and I want to consistently emphasize it. I'm not advising people to purchase it to become affluent. It is affluence and the largest capital in the world is displaying that. the sovereign wealth funds and the central banks who have now mostly reclassified silver as a crucial

mineral. The US government has the EU did it in 2023. China just did it and they're limiting exports. And China, as we've repeated endlessly on your program, the second biggest producer in the world is flying to Peru and Mexico and purchasing Dory and concentrate, paying double what the remainder of the world will and transporting it back to refine it. If they're the second biggest producer, then why on earth are they doing that? Because it's valued far more than the currency used to acquire it.

The valuations are incorrect. They have never been permitted to experience true price discovery. When you have the largest concentrated commodity, the concentrated short stance of any commodity of a thousand plus traded on COMX for years, it indicates, it simply indicates the reason. Why would it be the biggest short stance in this tiny little commodity? It's not for these banks to earn money, is it? Sure, they do. But is there something larger behind it? And we've discussed that endlessly.

So yeah, what we are witnessing right now is the incapacity of the actors that have used the western supremacy with merely big checkbooks, large piles of capital to persist in suppressing the valuation naked. It's now an existential danger. And you're seeing that the rumor is the reason they paused is there's one major trader who took possession and would not renew it. A stamp for cash settlement. perhaps an Asian trader who wanted over 400 million ounces of silver. Give it to me. And so, oh,

suddenly the cooling fails over Thanksgiving in one of the most thinly exchanged markets of all. So, there's almost no activity but just those servers collapsed. Right? So, the essence of it is that this signals just as the LBMA said, "Sorry, it's not L+ or T+1, it's T plus 8 weeks. We lack enough workforce trucks." The western framework is deteriorating under their own narrative and they are forfeiting trust and that isn't good when a system is entirely constructed on trust and it

begins to you know as the water withdraws what's the old saying you know Warren Buffett said when the tide recedes you discover who is swimming without swimming trunks. Yeah, right. Right. And I think that's going to be a grotesque site before it's finished. And that's why I think you're observing a different story line unfold among these banks that perhaps the scheme is over and survival would require breaking ranks and covering and exiting. You observe one of those European banks do

that and then the entire scheme simply collapses as the valuation soarses and shorts are pressured and they cover driving the valuation upward further. This is a significant matter uh and I think it's just commencing. >> Don't forget to like our video and subscribe for our channel.