this came from lemetropolecafe:

SILVER ALERT

There are 118 open silver contracts in the May contract (the Comex website shows 119, but our futures broker said the number is 118). This is an unusually high amount given that today is last trading day, tomorrow is last notice for delivery day and Friday is last delivery day. We are still waiting for notice on our 1 measly contract. Our broker, RJ O'Brien, said that there's "chatter" in his back office that we may see cash settlement offers by the end of the day today. Apparently the bottleneck in delivery is with HSBC. This could get interesting and may be why silver is strong relative to gold today. I just noticed that spot and July silver are trading at parity right now, after having been in slight contango (spot trading below the futures prices, which is how a healthy, normal futures market functions) for the past few weeks.

This experience with the Comex reinforces my belief that the reported gold and silver inventory on the Comex is fraudulent and, even more so, that the reported inventory with GLD and SLV are completely fraudulent. I can not believe some of the big holders of GLD like John Paulson or Greenlight Capital do not hold GLD accountable. GLD will be the next Enron/AIG.

***

Silver took off like The Roadrunner, speeding its way to $15 an ounce. However, it couldn’t maintain those gains when The Gold Cartel put its pressure on gold. Even so, it was a big one for us silver bulls today as the price closed in new high ground and really firmed up the technical picture.

Should there be any kind of delivery issues in the days ahead, the ramifications ought to be explosive as it would highlight the manipulation claims of Ted Butler and GATA that something is very wrong in the silver market.

The gold open interest went up 202 contracts to 396,965.

The game appears to be changing in silver. Its OI shot up to a new recent high, rising 1351 contracts to 98,120. Perhaps the time has come when the BIG MONEY is ready to take on The Gold Cartel’s Morgan and HSBC when it comes to silver. It just may be this money feels the cabal is finally vulnerable.