Repeat after me. If you take delivery they have to de-liv-er. To NOT deliver is k own as a DEFAULT. The Not required part comes from trading contracts where every contract play does not have to move around millions of ounces of silver.
If require silver delivery and it is not delivered then a default occurs...
If you are taking delivery they are.
Repeat after me: "COMEX is not required to fill physical contracts."
Repeat after me. If you take delivery they have to de-liv-er. To NOT deliver is k own as a DEFAULT. The Not required part comes from trading contracts where every contract play does not have to move around millions of ounces of silver.
If require silver delivery and it is not delivered then a default occurs...
Unless they inform that there's no silver to deliver to you. Aw. "Here's your (fiat) money back!"
Google: "it is possible that the futures exchange could just elect to settle contracts in cash in a worst-case scenario."
-- Isn't COMEX just a lovely racket?
Yup. They default and people start wondering why they are defaulting.