adrian douglas comments on the comex:

COMEX Warehouse Stocks January 6, 2010

SILVER

ZERO ozs withdrawn from the dealer’s (registered) inventory
1,898 ozs withdrawn from the customer (eligible) inventory
Total dealer inventory 54.38 Mozs
Total customer inventory 58.12 Mozs
Combined Total 112.50 Mozs

GOLD

6,500 ozs deposited in the dealers (registered) category
402 ozs withdrawn from the customer (eligible) category
Total dealer inventory 2.60 Mozs
Total customer inventory 7.23 Mozs
Combined Total 9.83 Mozs

For the umpteenth day there was no movement of silver into or out of the dealer inventory. How come the “sales office” is so busy with plenty of “ordering” pushing prices through key resistance to new highs yet nothing leaves the “factory gates”? If you saw a company that had such a profile wouldn’t the words “scam” or “Ponzi scheme” or “Enron” come to mind? There were only paltry movements in the gold inventory also. As you will see below the contango in silver reduced significantly with buyers buying the JAN contract for immediate delivery indicating tightness of physical supply and a high demand for physical silver yet ZIP moves out of the warehouse! And Jim Bianco thinks there is no evidence of market manipulation! This is just one piece of evidence in a mountain of evidence that GATA has amassed over the years. The golden rule in financial markets is that if things don’t smell right, they are NOT right. There is a putrid stench coming out of the COMEX.