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 I think that this is going to be a story that gains a lot of traction over the the coming weeks and months. Um I I think that the price of silver is just beginning. I really truly truly do. Uh and that nonsense of a outage um a glitch and an outage of air conditioning uh at the CME a cooling cooling failure uh is a bunch of crap because only the metals markets went down. You know the other CME markets like the bonds and the FX and the repo and the equity futures well they stayed online. It was a

technical failure isolated to only one asset class uh and low volume that day yet the whole thing went down. Um to me it just is telling you that things are breaking and um I don't know I I think that this is just the beginning. In recent weeks, the precious metals market has been experiencing unprecedented levels of strain with Andy Sheckchman warning that the retail bullion supply chain is entering a phase of extreme pressure. Silver Eagle inventories are thinning far earlier than normal, premiums remain unstable,

and delivery requests on major exchanges are accelerating at a pace rarely seen before. In just the first two days of the December contract, more than 2.3 million ounces of gold and over 41 million ounces of silver were requested for physical settlement, numbers that echo the heavy offtake patterns seen since early autumn. Sheckchman explains that this surge in demand for actual metal rather than paper derivatives signals a major shift in investor behavior and growing concern about the reliability of traditional delivery

systems. At the same time, he highlights increasing structural stress across global exchanges, focusing in particular on COMX and the London markets. Large short positions, declining inventories at the LBMA, and significant metal flowing out of registered categories all point to weakening foundations in the paperbased pricing system. According to Sheckchman, trust, the essentially pillar that allows futures markets to function, is deteriorating as more participants insist on taking physical delivery instead of rolling over

contracts. He compares the situation to a bridge that carries weight safely for decades, but eventually collapses without warning, emphasizing that the current signs of structural fatigue are too large to ignore. These pressures are unfolding amid growing concerns about market transparency and systemic stability, heightened by recent technical outages that affected only metals trading and reignited suspicions of deeper issues beneath the surface. Sheckchman believes these developments mark the early stages of a major shift

in which real physical metal becomes far more valuable than its paper representation and traditional pricing systems begin to break down under persistent physical demand. Ongoing questions about central bank activity, large unreported buyers, and unexplained metal withdrawals suggest that the precious metal story is still in its early chapters. He warns that the coming months could force a dramatic reassessment of supply, trust, and price discovery throughout the entire sector. Now, we present the clips from Andy

Shechman's interview with Liberty and Finance. >> Only two days, well, today is day three. I don't have the numbers yet, but 2 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 41,525,000 troy ounces issued and stopped so far. And the month has just started. Uh it it's it's also relevant to note that in November, which um I would say was not

normal, um the silver deliveries 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. But you know, the first day this this this month, the December contract, day one, we saw 7,330 contracts stand for delivery and 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 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 COLMX 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. Almost 90 million ounces have been delivered off of commex since October. Pardon me. 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 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 or 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 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 5 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. 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 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. Um, and you're seeing that in London. You're seeing that in in the ComX now. And I don't know. I think that

um I think that this is going to be a story that gains a lot of traction over the the coming weeks and months. Um, I think that the price of silver is just beginning. Please subscribe to our channel and activate the bell icon to receive timely updates.