500 MILLION ounces of paper silver dumped on the COMEX in 1 Hour

Capitulation, or the Apex of manipulation?  NetDania’s 1 hour silver chart indicates 105,231 silver contracts were dumped on the market this morning between 9am and 10am EST, as silver was smashed a dollar from $28 to $27.

To put this number in perspective, 105,231 contracts is north of 500,000,000 ounces of silver, nearly 2/3rds of entire world annual silver production trading in a single hour!
This is either capitulation/panic selling in the face of the EUR/USD gapping down on Euro contagion fears, or more likely, the most blatant manipulative raid to date…even more than the infamous February 29th Leap Day Massacre!  As tomorrow (5/24) is May options expiration in gold, we’ll put our money on #2.

Price/ Volume Screenshot From NetDania (NetDania acquires volume totals from a variety of feeds/sources and claims the volume estimates are not precise, but are a close proxy to actual volume:

This is merely another example of the Psychological WAR raging in precious metals, as discussed by SRSrocco yesterday.

Those who hold physical precious metals in their personal possession have nothing to fear as the escalating psychological war played by the cartel reeks of end-game desperation!


Source: http://www.silverdoctors.com/were-500-million-ounces-of-paper-silver-just-dumped-on-the-comex-in-1-hour/