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...
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.
Because wondering people is a terrible concern when you're trying to keep concerned wonderers out of your racket after you've fleeced them.
There's a reason SLV is traded like a common-stock with a typical 30% margin-requirement. It's all about raping the stops.