SLV: 308,087,386.400 Ounces of Silver in Trust

[po14015]

FWIW: A lot of ounces have been added in the last few weeks.

http://us.ishares.com/product_info/fund/overview/SLV.htm

October 18, 2010
328,710,808.000 Ounces of Silver in Trust

October 15, 2010
326,754,532.000 Ounces of Silver in Trust

October 9, 2010
324,260,251.800 Ounces of Silver in Trust

October 8, 2010
321,423,408.000 Ounces of Silver in Trust

October 6, 2010
319,711,498.500 Ounces of Silver in Trust

October 5, 2010
317,559,361.700 Ounces of Silver in Trust

Sept 30, 2010
314,642,317.200 Ounces of Silver in Trust

Sept 29, 2010
313,663,993.200 Ounces of Silver in Trust

Sept 24, 2010
309,065,776.400 Ounces of Silver in Trust

Sept 23, 2010
308,087,386.400 Ounces of Silver in Trust

[Aurumag]

I checked out the web-site, and found no reference to independently conducted audits of Ag...

Therefore, I must conclude that there is no physical metal in trust.

[GodspeedMetals]

What a load of bunk. So SLV claims they have $6.5 trillion worth of silver in their vaults??? That's a little over 308 million ounces of silver, according to their website. The Hunt Brothers tried to corner the market with about 200 million (?) ounces of silver.

Keep stacking them physicals, Comrades. The paper silver landslide may happen sooner than we think.

[anywoundedduck]

Yes, the SLV BOD are lying out their ass, and need to be called on it. This is pure fraud, plain and simple. The CFTC and the SEC should demand an audit, based on these obvious fraudulent claims, the NASDAQ should delist them if they don't cooperate, and the entire BOD needs to be thrown in prison for life after the audit proves them to be liars and thieves.

[Gcubed]

Yes, the SLV BOD are lying out their ass, and need to be called on it. This is pure fraud, plain and simple. The CFTC and the SEC should demand an audit, based on these obvious fraudulent claims, the NASDAQ should delist them if they don't cooperate, and the entire BOD needs to be thrown in prison for life after the audit proves them to be liars and thieves.

Organize a few folks of like thinking and buy a few shares. Then file a class action lawsuit alleging fraud. You will have subpoena power! The fraud will be exposed and the wounded duck will be a HERO!!

:banana: :banana: :banana: :banana: :banana: :banana: :banana:

[silverwood]

I have made a couple of posts where I have seen SLV, on main street media, being promoted as the best way joe average investor can particapated in the silver market. My comments where that reading between the lines this is an excellent way of making joe buy paper silver vs. real physical silver. Jim Sinclair has commented that the shorts in PM will receive a religious experience in the not too distant future and to that I say AMEN Brother!:haha:

[GodspeedMetals]

I'm sure the SLV prospectus has been scrutinized from day 1, but read this...

As an owner of iShares, you will not have the protections normally associated with ownership of shares in an investment company registered under the Investment Company Act of 1940, or the protections afforded by the Commodity Exchange Act of 1936.

The trust is not registered as an investment company for purposes of United States federal securities laws, and is not subject to regulation by the SEC as an investment company. Consequently, the owners of iShares do not have the regulatory protections provided to investors in investment companies. For example, the provisions of the Investment Company Act that limit transactions with affiliates, prohibit the suspension of redemptions (except under certain limited circumstances) or limit sales loads do not apply to the trust.

The trust does not hold or trade in commodity futures contracts regulated by the Commodity Exchange Act (CEA), as administered by the Commodity Futures Trading Commission (CFTC). Furthermore, the trust is not a commodity pool for purposes of the CEA, and its sponsor is not subject to regulation by the CFTC as a commodity pool operator, or a commodity trading advisor. Consequently, the owner of iShares does not have the regulatory protections provided to investors in CEA-regulated instruments or commodity pools. Consequently, the trustee is not subject to registration as a commodity pool operator and the owners of iShares do not receive the disclosure document and certified annual report required to be delivered by a commodity pool operator.

[Gcubed]

So what? Fraud has been alleged, correct? Those that make the charge should "man up" and take it to court, no? Fraud is still illegal, isn't it? WHO will lead the CHARGE? Talk is cheap guys.

Peace Out,
'cubed

[Turner-son]

What a load of bunk. So SLV claims they have $6.5 trillion worth of silver in their vaults??? That's a little over 308 million ounces of silver, according to their website. The Hunt Brothers tried to corner the market with about 200 million (?) ounces of silver.

Keep stacking them physicals, Comrades. The paper silver landslide may happen sooner than we think.

I agree it's BS that they actually hold 300 million + physical ounces of silver in their vaults, however it would "only" equate 6.5 billion dollars, not trillion.

[anywoundedduck]

Organize a few folks of like thinking and buy a few shares. Then file a class action lawsuit alleging fraud. You will have subpoena power! The fraud will be exposed and the wounded duck will be a HERO!!

:banana: :banana: :banana: :banana: :banana: :banana: :banana:

You are right. That is exaclty what we should do. In past years I managed to pull family members out of this charade, and into physical. But what about all the other suckers. You are right.

[Gcubed]

You are right. That is exaclty what we should do. In past years I managed to pull family members out of this charade, and into physical. But what about all the other suckers. You are right.
Get A Lawyer!
Hell, call Hommel or Sinclair or Butler. Surely one of them can assist! Call the AFL-CIO, the ASPCA, the NAACP, PETA!!. Hell, call AAA for a tow truck! Get some HELP with this!!!

[<===Foolsgold]

Doesn't their prospectus give them an out?

[GodspeedMetals]

I agree it's BS that they actually hold 300 million + physical ounces of silver in their vaults, however it would "only" equate 6.5 billion dollars, not trillion.

My zeal (and attempt to do math in public) got the best of me!!! Thanks for the correction. But billion is so 1990s.

[GodspeedMetals]

Doesn't their prospectus give them an out?

It does... and it doesn't. I'm no liar, eh hem, lawyer... but there appears to be three ways to skin this cat.

1. While during election season, write letters and urge Congress, State Attorney Generals, State Governors to look into the matter;
2. A whistleblower from the inside; and
3. Have someone buying or redeeming multiple "basket of shares" for physical delivery and see what happens.

#3 is least likely to happen because you have to be an insider (ala Warren Buffett).
#2 anyone blowing the whistle on these crooks will get shot before he finishes the word "ponzi"
#1 while seemingly futile to me...

I'll be writing a letter to Cuomo and Paladino (NY Governor candidates) this weekend.

[Gcubed]

It does... and it doesn't. I'm no liar, eh hem, lawyer... but there appears to be three ways to skin this cat.

1. While during election season, write letters and urge Congress, State Attorney Generals, State Governors to look into the matter;
2. A whistleblower from the inside; and
3. Have someone buying or redeeming multiple "basket of shares" for physical delivery and see what happens.

#3 is least likely to happen because you have to be an insider (ala Warren Buffett).
#2 anyone blowing the whistle on these crooks will get shot before he finishes the word "ponzi"
#1 while seemingly futile to me...

I'll be writing a letter to Cuomo and Paladino (NY Governor candidates) this weekend.

Letters like talk, are CHEAP puffery!! Hire a lawyer! Put up or shut up!! :vollkommenauf:

[ToBeSelfEvident]

I love SLV. It's a great investment tool. I use it to punish the cartel whenever they drop the bottom out of the silver price. I scoop in, buy a block of paper silver, and sell a few weeks later after the inevitable correction. It's usually good for a clean 10% - 15% profit. And the risk of systemic default is almost nil. Don't get me wrong - SLV will default. But not right after a successful manipulation by the cartel.

[jupitergold]

Get A Lawyer!
Hell, call Hommel or Sinclair or Butler. Surely one of them can assist! Call the AFL-CIO, the ASPCA, the NAACP, PETA!!. Hell, call AAA for a tow truck! Get some HELP with this!!!

LOL, tow truck! Where's the pic of Ax's beat up gold tank?

[po14015]

Another 1 million ounces added in the last 24 hours:

Ounces of Silver in Trust 309,065,776.400

[southfork]

Whom did they find to sell them this 300m+ ounces of silver pray tell, I would wager the dentists office has more silver in store than these lying SOB'z

[Strawboss]

I am no lawyer, but, dont you need to have a grievance (or suffered a loss) in order to have standing for a lawsuit? If someone sued them - what is the grievance? Their prospectus clearly tells you that you are buying a POS (piece of xxxx) - and in the absence of a default or collapse or something - what is the "wrong" the plaintiff would be seeking to have rectified?

[Gcubed]

I am no lawyer, but, dont you need to have a grievance (or suffered a loss) in order to have standing for a lawsuit? If someone sued them - what is the grievance? Their prospectus clearly tells you that you are buying a POS (piece of xxxx) - and in the absence of a default or collapse or something - what is the "wrong" the plaintiff would be seeking to have rectified?

EXACTLY! No One crying FRAUD is able to make an intelligent case! It's just "Blog Guru's" and some "send a donation" lobby stirring up the emotions of the uneducated masses. End of rant.

[po14015]

Over 4,500,000 ounces added since Friday.

Ounces of Silver in Trust 313,663,993.200

Gcubed: It isn't fraud if they tell you.

[GodspeedMetals]

I think there's enough evidence for an investigation. To say that no one has made an intelligent case... is a bit early. I think all the people crying fraud (including myself), want an investigation by the proper authorities. We haven't even come to that point yet.

In the end, I don't own SLV - but it smells like another billion dollar bullion scam. It's just not right.

[po14015]

20 million plus ounces is what they claim have been added in the last 30 days, btw. 5.5 million in just the last week.

How many ounces did the Hunt brothers try to take delivery of when they tried to "corner" the market???

As for fraud, if you loan me money, and I tell you that I am going to use it to buy a car or (maybe) buy booze/lottery tickets. Is it fraud if I buy booze and lottery tickets?

[GodspeedMetals]

20 million plus ounces is what they claim have been added in the last 30 days, btw. 5.5 million in just the last week.

How many ounces did the Hunt brothers try to take delivery of when they tried to "corner" the market???

As for fraud, if you loan me money, and I tell you that I am going to use it to buy a car or (maybe) buy booze/lottery tickets. Is it fraud if I buy booze and lottery tickets?


I don't think so... but it's fraud if you sign a contract for those loan proceeds and do not buy a car, booze or lottery tickets.

[Ragnarok]

Key words: "In Trust"

Not "In Storage/In or On Hand".

Some people will make money with this ETF.

Question is... do you feel lucky?

Read the prospectus carefully. Caveat Emptor.

R. (disclosure: PMs in hand, not in trust)

[GodspeedMetals]

Po, apologies, 58 years young and I'm losin' my marbles. Misread what you wrote!



20 million plus ounces is what they claim have been added in the last 30 days, btw. 5.5 million in just the last week.

How many ounces did the Hunt brothers try to take delivery of when they tried to "corner" the market???

As for fraud, if you loan me money, and I tell you that I am going to use it to buy a car or (maybe) buy booze/lottery tickets. Is it fraud if I buy booze and lottery tickets?

[Veli Hopea]

6.8 billion dollars, right?

There are obviously very many people who trust SLV.

[po14015]

Close to 3 million ounces have been added since Sept 30:

October 5, 2010
317,559,361.700 Ounces of Silver in Trust

[Ragnarok]

How much is that in reams?

R.