J.P. Morgan adjusts about all of the eligible silver (this is big)

[Large Sarge]

JPM Adjusts NEARLY ALL Eligible Silver into REGISTERED Vaults
Is JP Morgan preparing for an imminent onslaught of silver longs standing for delivery in September???

Just yesterday we reported that on Monday JP Morgan adjusted 19,003 ounces of silver from eligible supplies into registered vaults- the VERY FIRST OUNCES OF SILVER ever to appear in JPM's registered vaults.

In today's CME warehouse silver inventory report, JP Morgan adjusted another 781,915 ounces of eligible silver into their registered vaults yesterday- nearly ALL of their eligible silver supply!

Is JP Morgan gearing up for the Wynter Benton group (or any other trader with just $1.3 Billion) demanding delivery in September of the remaining 32.75 million ounces of silver in the COMEX?

COMEX SILVER INVENTORY REPORT 8/24/2011


*Brink's had a small withdrawal of 1,006 ounces from eligible vaults

*The Delaware Depository had a small withdrawal of 9,009 ounces from eligible vaults

*HSBS had a small withdrawal of 4,990 ounces from eligible vaults

*JP Morgan adjusted nearly all of their eligible silver (781,915 ounces out of 962,160 total) into REGISTERED VAULTS

*Scotia Mocotta had a large withdrawal of 630,512 ounces from eligible vaults.

*TOTAL COMEX REGISTERED SILVER Inventories increased by JPM's 781,915 ounces to 33,538,485 ounces
*TOTAL COMEX ELIGIBLE SILVER Inventories declined to 71,732,144 ounces
*TOTAL COMEX SILVER INVENTORIES declined to 105,270,629 ounces.

[JohnQPublic]

I think it may be related to this chaneg from paper to electronic warrants:

http://gold-silver.us/forum/showthread.php?48155-Comex-Explains-Large-Adjustment-in-Silver-amp-Gold-Registered-Inventories

"Unfortunately for the silver conspiracy nuts, the reclassification was not due to a run on supplies or indicative of fraud at Comex. It was due to a change in its reporting system to electronic warrants and the metals that had not fully converted from paper to electronic were moved to eligible. In an email sent out this evening, Comex explains:

A correction to the COMEX Metal Depository Statistics Stock Reports published on April 27, 2011, has been made to reflect a change in the reporting of metal from the Registered category to the Eligible category. This change reflects paper warrants that have yet to be converted to electronic form. The metal represented by these paper warrants, which will now be reported in the Eligible category, will continue to remain eligible for delivery against COMEX futures contracts provided holders of the paper warrants convert them to electronic form.

Exchange metal reported in the Registered category represents troy ounces of metal that meet the contract specifications as defined in the Exchange Rules for which an electronic warrant has been issued.

Exchange metal reported in the Eligible category represents troy ounces of metal that meet the contract specifications as defined in the Exchange Rules for which an electronic warrant has not been issued."

[ximmy]

What does this mean to the layman?

[sirgonzo420]

What does this mean to the layman?

Nothin'.

[Large Sarge]

Maybe we need magnes for some help on this....?

one thing I think plays a role in this, the financial new year starts oct 1 (just like the jewish new year starts in early oct, yom kippur)

no coincidence our financial calendar follows the jewish calendar

point being is that Sept is the last time to put these losses on 2011, 4th quarter....

someone might want to take the bitter pill in 2011....

[osoab]

Sarge, you got a link for the OP?

[Large Sarge]

Sarge, you got a link for the OP?


gotta call the doctor, the silver doctor

http://silverdoctors.blogspot.com/2011/08/jpm-adjusts-nearly-all-eligible-silver.html

[Cebu_4_2]

HahahaHaha no clue but that was funny.

[Ponce]

Should I lend them all some of mine? at what rate?.......hummmmmmm, nawwwwwww they will fail no matter what.