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The Bank of
International Settlements (BIS) has changed, or revised, their silver derivatives data in their derivatives reports. The change took
place between their June, 2010 report, and their December, 2010 report, for the period
of June, 2009. The change was
from $203 billion in "other
precious metals" liabilities, changed down
to $93 billion.
The change took place, in Table 22A: Amounts outstanding of OTC equity-linked and commodity derivatives, By instrument and counterparty, in
the category of "other
precious metals",
for June, 2009, Notional amounts outstanding.
In June, 2009, the silver
price was about
$15/oz.
http://www.silverseek.com/quotes/5silver.php
This means that the $203
billion silver liability divided by $15/oz. shows that all
the banks in the world that
are tracked by the BIS owed
13.5 billion ounces of silver.
But the entire world silver
mining production is only about 700 million oz. of silver
annually, so this is an admission that the banks owed about 19.3 years worth of world annual mine
production of silver.
The adjustment, from $203
billion, down to $93 billion was a drop of $110
billion, or more than half
of the number! The lower
number, $93 billion, is
still absurdly large, at about 6.2 billion oz. of silver,
or about 8.8 years of worth
of world annual mine production of silver.
The obviously large and very
excessive amounts are the smoking gun of silver fraud by the western world's banks.
This BIS data is extremely
important, because it is far larger than the excessive short selling
amounts often noted at the COMEX, which typically is only about 1 billion ounces of silver, or less.
I attended the CFTC open hearings
on silver manipulation. A banking representative was asked directly
what the banks were hedging by being so massively
short of silver at
the COMEX. The answer was that the banks were "hedging client long
positions in the OTC market". That's obviously an admission
of manipulation, because client long positions do
not need to be hedged, since the client obviously wants to be exposed to the changes in
the silver prices, which is why
they bought silver to be held by the large LBMA member banks in the first place. So if the banks are hedging client long
positions, it means that the bank has not bought the silver, and that they want
to prevent silver prices from going
up, because if it does, then the banks will owe their clients a lot of
money, so, to "hedge"
that exposure, they short at the COMEX, which is the market that generates
"price discovery",
since trades there create a trail and record of prices.
After all, imagine what
the silver prices would be if the LBMA banks actually went into the market to buy 13 billion ounces of silver, or 19 years worth of annual production. Clearly,
the silver prices could go hundreds if not thousands of times higher, and it could destroy the entire financial system of paper money.
The revision was an adjustment from $203 billion
down to $93 billion, and the adjustment is strange, because
it was the only number that
was repeatedly and consistently highlighted
in this silver stock
report. It's also strange because the amount of the value of the gold contracts,
at $425 billion, and other
commodities contracts, at $3101, went unchanged for that reporting period.
This BIS change is significant,
both in the relatively
large silver amounts, and
the reporting period.
The change took place after
I began publishing this BIS data, and soon after I filed the first anti
trust complaint against JP Morgan with the Justice Department, in
April, 2010.
http://silverstockreport.com/2010/doj.html
This data change also took
place after the filing of
approximately 25 lawsuits
against JP Morgan over silver
manipulation.
It has been difficult to document the BIS data
change, since they often change the web links to their
reports, and they change the reports directly. But a helpful reader has discovered the original reports at
the BIS website.
From 2009, Dec report:
$203 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa0912.pdf
From the 2010, June
report: $203 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1006.pdf
From the 2010, December
report: $93 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1012.pdf
From the 2011, June
report: $93 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1106.pdf
Since the BIS changes their
urls and reports, I saved
all of these pdf files, which are archived here:
http://www.silverstockreport.com/BIS/r_qa0912.pdf
http://www.silverstockreport.com/BIS/r_qa1006.pdf
http://www.silverstockreport.com/BIS/r_qa1012.pdf
http://www.silverstockreport.com/BIS/r_qa1106.pdf
And since the BIS changes their
urls and reports, I also captured a print screen of these pdf files being opened directly on the BIS website:
http://www.silverstockreport.com/BIS/0912.png
http://www.silverstockreport.com/BIS/1006.png
http://www.silverstockreport.com/BIS/1012.png
http://www.silverstockreport.com/BIS/1106.png
In conclusion, it's not a "conspiracy
theory" that the banks are manipulating the silver market.
The BIS bank data shows the conspiracy.
And when the banks are saying indirectly, "don't trust us", given both the large amounts and large changes in their
published data, it would be foolish
to trust them.
It's a mathematical certainty that silver prices will explode upwards in price, and only people who hold their own
silver will benefit from the major value
change that's coming.
Jason Hommel
Silver Stock
Report
I strongly advise you
to take possession of real gold and silver, at anywhere near
today's price, while you still can. The fundamentals
indicate rising prices for decades to come.
Follow me on facebook I have 3500 friends, and I hear there is a limit
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http://www.youtube.com/user/bibleprophesy
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