The Daniela Cambone Present Mar 18, 2026
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Is the COMEX quietly working out of silver—and if that’s the case, what occurs subsequent?
The COMEX silver scarcity is not a fringe idea—it’s flashing warning alerts that even seasoned merchants can’t ignore. Registered silver stockpiles have plunged towards important ranges, whereas demand continues to surge.
On the similar time, gold stays stubbornly sturdy regardless of geopolitical shocks and rumors of central financial institution promoting.
So what’s actually occurring beneath the floor? And extra importantly—what does it imply in your wealth?
COMEX Silver Scarcity: A System Below Stress
The numbers are onerous to disregard. COMEX registered silver inventories have dropped under 90 million ounces, hovering dangerously near the 80 million ounce vary.
That’s not only a statistic—that’s deliverable metallic.
Right here’s why this issues:
Registered silver = metallic obtainable for supply
Declining inventories = tightening bodily provide
Rising industrial demand = rising stress
Paper contracts = massively outweigh bodily provide
In line with Todd “Bubba” Horwitz:
There might not be sufficient bodily gold and silver on the earth to cowl the quantity of paper claims written in opposition to them.
Translation?The system relies on confidence—not precise metallic.
And when confidence cracks, markets don’t modify regularly… they snap.
Worth Suppression vs Actuality: Are Markets Being Manipulated?
Let’s deal with the elephant within the room: “nefarious exercise.”
Horwitz doesn’t mince phrases—he suggests manipulation is just not new.
Key dynamics at play:
Paper derivatives dominate value discovery
Bodily provide constraints are ignored—till they aren’t
Costs usually transfer independently of real-world shortages
This creates a harmful imbalance:
That’s a textbook setup for a brief squeeze.
And when it occurs?
It received’t be delicate.
Silver vs Gold: Why Silver May Outperform
Whereas each metals are positioned to rise, silver could also be the true breakout story.
Why silver has the sting:
Industrial demand is exploding (AI, electronics, vitality)
Traditionally undervalued vs gold
Smaller market = extra risky upside
Tightening provide = sooner value प्रतिक्रिया
Horwitz places it bluntly:
However right here’s the important thing perception:
The longer costs consolidate, the extra explosive the eventual transfer greater.
This present “sideways” market?It might simply be the calm earlier than a violent repricing.
Central Banks and Gold: Are They Actually Promoting?
Latest headlines recommend international locations like Poland could promote gold reserves to fund protection.
However the market isn’t shopping for that narrative.
Why?
Gold costs stay secure—not collapsing
Central banks proceed accumulating globally
Promoting gold would weaken monetary positioning
Horwitz calls it what many suspect:
“Rhetoric”
“Smoke and mirrors”
If central banks had been really dumping gold, costs would mirror it.
They don’t.
The Greater Threat: A Market Constructed on Phantasm
Zoom out—and the true hazard turns into clear.
We’re sitting on prime of maximum monetary imbalances:
Inventory market overvaluation (CAPE ratio > 40)
Market cap vs cash provide at historic highs
Housing market distortions re-emerging
Banking system probably overleveraged
And maybe most alarming:
That’s not a wholesome market—it’s a fragile one.
When the subsequent shock hits:
Liquidity disappears
Panic promoting begins
Capital flees to security
And traditionally, that security is:
Gold & Silver: The Case for Tangible Wealth Preservation
In a system constructed on debt, derivatives, and digital guarantees, tangible belongings matter greater than ever.
Why gold and silver stand aside:
No counterparty threat
No reliance on banks or establishments
Confirmed retailer of worth for hundreds of years
Safety in opposition to foreign money devaluation
That is the essence of:
Wealth preservation
Gold vs greenback actuality
Inflation hedge technique
When paper markets fail, bodily possession turns into all the things.
And as Horwitz identified:
If buyers begin demanding supply as a substitute of paper, the system faces actual stress.
Conclusion
The warning indicators are stacking up:
COMEX silver inventories are shrinking
Paper markets are stretched past actuality
Monetary methods are more and more fragile
And but, mainstream narratives stay calm.
That disconnect is the place alternative—and threat—lives.
As a result of when the system lastly adjusts, it received’t be a gradual correction.
Will probably be a repricing occasion.
The one query is:
Will you be positioned earlier than it occurs—or reacting after?
About ITM Buying and selling
ITM Buying and selling has over 28 years of expertise serving to shoppers safeguard their wealth by customized methods constructed on bodily gold and silver. Our workforce of consultants delivers research-backed steering tailor-made to right this moment’s financial threats.
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