robert singer expects a comex default sooner or later:

A default at the Comex that will ignite the explosion in the price of silver and gold is in progress. Investors turned away from the bullion and coin dealers who refuse to sell silver at the $9 paper price opened commodity futures brokerage accounts. They hope to take delivery of the real thing--silver bars with serial numbers--at the manipulated price of $9 an ounce before the Comex has to shut down and admit they never had enough real silver.

Silver delivery at $9 per ounce is courtesy of The Shorts, the largest concentrated short position by four or less dealers in financial history.

Ted Butler, a brilliant researcher, has been writing about the concentrated short position in silver for years and initially thought the default at Comex would come when the dealers ran out of liquidity, but his research suggested otherwise: “Even when holding extremely large short positions and incurring massive unrealized paper losses, measuring in the many hundreds of millions of dollars, the dealers have never collectively turned tail and bought back their short positions to the upside.”

Shorts to Comex and the regulators: The dramatic price decline in August from $21 to $9 is our parting gift to you for looking the other way during our obvious manipulation of prices in the War on Precious Metals. We had to prevent gold and silver from gaining legitimacy as stores of value or consumerism would not have become hyper-consumerism. Mopping up our mess will be easier at $9 instead of $21.

http://news.silverseek.com/SilverSee...