Bill,
Thursday was the last day for deliveries for the January contract at COMEX. Action in gold was non eventful but in silver 503 contracts were delivered, 502 of which were by JP Morgan which is 2,510,000 ounces worth. For the month 2,105 silver contracts were delivered representing 10,525,000 ounces. Usually 80 to 90% of deliveries are on the first 2 or 3 days of the month, so to have 24% of the deliveries made on the last day shows the cartel is sucking wind. This is irrefutable proof that JP Morgan is the big COMEX silver short. March is the next large delivery month for COMEX silver. Based on the cartels struggle to deliver a minor 2,105 contracts in January (a minor month), March looks like it will result in a silver default. Regards,
Bryant