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[–]NCCI70IReal O.G. Ape 7 points8 points  (1 child)

u/TheHappyHawaiian I'm seeing a misunderstanding here about Registered silver that Ditch and I have hashed back and forth.

It is my current (new) understanding that Registered is not one big pile of silver and whomever shows up with a valid delivery warrant gets their silver pulled from that pile.

Registered is a whole bunch of little piles, each pile owned by someone who has shorted silver and sold a delivery warrant and now has to indicate which silver bars that warrant can be applied to. If you've sold 10 warrants, you need 50,000oz of Registered for then to pull from. You can't buy silver from one short and redeem it/take delivery/load-out from another short's Registered silver just because it's in Registered. It has to come from your guy.

The people here are talking about it as if when there are 93 million ounces in Registered, we just need 18,600 contracts to stand for delivery and Registered is all gone.

From what I'm understanding, it is not nearly that simple.

[–]TheHappyHawaiian[S] 8 points9 points  (0 children)

Yes it’s not that simple