Update on silver


Silver has been driven down by short sellers as well as a fall off in industrial demand due to the
recession. We at Centennial could not figure out who would be selling short at such low prices
($4.50 and lower) until the bankruptcy of Enron occurred. Then all the dirty laundry came to
light. Apparently, Enron used Rudolf Wolff as its commodities broker to clear its trades. And so
did Warren Buffet. And good old Warren deposited his physical silver with Rudolf Wolff and
Enron helped themselves to it through the leasing program. Everything was going along just fine
until Enron went bust.

The story out on the street (which has been mentioned on this site before) is that Warren Buffet
now wants his silver back--approximately 50 million ounces of his 130 million ounces total. The
problem is that Enron sold it into the market and now it is gone. Normally, that would be the
end of the story because bankruptcy discharges all obligations. But in silver and gold leasing
deals, a third-party guarantor is required just in case things go sour. That third-party guarantor is
one of the major bullion banks. (Take your pick from Goldman Sachs, Deutsche Bank, JP
Morgan Chase, et al. Nobody knows for sure because nobody is talking.)

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>Update on silver
>
>Silver has been driven down by short sellers as well as a fall off in industrial demand due to the
>recession. We at Centennial could not figure out who would be selling short at such low prices
>($4.50 and lower) until the bankruptcy of Enron occurred. Then all the dirty laundry came to
>light. Apparently, Enron used Rudolf Wolff as its commodities broker to clear its trades. And so
>did Warren Buffet. And good old Warren deposited his physical silver with Rudolf Wolff and
>Enron helped themselves to it through the leasing program. Everything was going along just fine
>until Enron went bust.
>The story out on the street (which has been mentioned on this site before) is that Warren Buffet
>now wants his silver back--approximately 50 million ounces of his 130 million ounces total. The
>problem is that Enron sold it into the market and now it is gone. Normally, that would be the
>end of the story because bankruptcy discharges all obligations. But in silver and gold leasing
>deals, a third-party guarantor is required just in case things go sour. That third-party guarantor is
>one of the major bullion banks. (Take your pick from Goldman Sachs, Deutsche Bank, JP
>Morgan Chase, et al. Nobody knows for sure because nobody is talking.)

Das klingt sehr nachvollziehbar! Aber offenbar hat man die Sache wieder in den Griff bekommen, s. die Lease-Rates.


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...gerade in letzter Zeit häuften sich dort die Eingabefehler und die Lease Rates bei Bulliondesk, welche i. A. verlässlicher sind, liegen für den 3. Januar immer noch bei 18%. Nächste Woche wird sich's zeigen.

Gruss

tofir
<ul> ~ hier, und oben Lease anklicken</ul>
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