Vaporize COMEX 2008-12-24

Gold: 47.5% depleted. Delivery notices today: 12,800 oz.
Silver: 45.7% depleted. Delivery notices today: 0 oz.

Link to all Vaporize COMEX posts:
Vaporize COMEX Graphs

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comex-countdown-silver-2008-12-241

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COMEX trades hundreds of times more gold & silver than they actually possess. If enough investors demand delivery of PHYSICAL gold & silver COMEX stockpiles will be depleted. If COMEX runs out, the ensuing rush to grab physical metal to settle contract obligations *could* be the spark that ignites the long-awaited precious metals wildfire.

Explanation:
COMEX warehouses contain both “registered” and “eligible” metals. The “registered” metals are available for physical delivery. The “eligible” metals are not ready for delivery until they become “registered.” Although this pool of “eligible” metals is stored at COMEX warehouses there is no obligation to “register” these metals for subsequent physical deliveries.

The graph shows:
1) the cumulative ounces of metal delivery notices this month,
2) the ounces of “registered” metal available for delivery,
The percentage shown is based on the cumulative physical metal delivery notices for the month against the “registered” amount of metal in COMEX.
“Eligible” metal inventories are not shown as they do not have a direct bearing on the inventory depletion ratio.

Sources:
[1] COMEX precious metals warehouse stocks:
gold: http://cmegroup.com/trading/energy-metals/files/Gold_Stocks.xls
silver: http://cmegroup.com/trading/energy-metals/files/Silver_Stocks.xls
[2] COMEX precious metals daily delivery notices: http://cmegroup.com/trading/energy-metals/files/delivery.pdf
Link to master list of reports: http://www.cmegroup.com/trading/energy-metals/nymex-daily-reports.html 

More info:
Gold: Is This It, NOW?
Attack of COMEX Gold & Silver
How 2 Track COMEX Deliveries
Sinclair Sez “Help Me Bust Comex”
This Guy Plans 2 Kill “Paper” Silver
COMEX: Taking Delizery Is EZ

Army Planning 4 Economic Collapse

From yesterday’s New York Post, summarized for your enjoyment.

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US ARMY READY IF THE DOWNTURN GETS OUT OF HAND

Are you afraid that the economic downturn could get out of hand? I mean, really out of hand?

Well, don’t worry.

The US Army War College is on the case – ready to handle “unforeseen economic collapse” and the “rapid dissolution of public order in all or significant parts of the US.”

And you thought we were just dealing with a recession!

knownunknows-pub890_100x130In a report published Nov. 4 – just in time for the holiday season – the War College’s Strategic Studies Institute posited a number of shocks that the country should be prepared for, including unrest caused by the economy’s failure.

The report has a snappy title, “Known Unknowns: Unconventional ‘Strategic Shocks’ in Defense Strategy Development,” and was written by Nathan Freier, a visiting professor at the college. 

Freier lists a number of possible things we should worry about – because we probably don’t have enough of our own – including run-of-the-mill terrorism and the fact that China and Russia could align against us politically and economically.

“Some of the most plausible defense-relevant strategic shocks remain low-probability events,” Freier soft-pedals before going on to scare the hell out of us.

The War College says “widespread civil violence inside the US would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.”

Among things Freier wants us to worry about are:
– deliberate employment of weapons of mass destruction,
– unforeseen economic collapse,
– loss of functioning political and legal order,
– purposeful domestic resistance or insurgency and
– catastrophic natural and human disasters.”

[more]