SCOTIABANK MELTDOWN- $273 Silver Historic Exit (I Have LBMA Filing- ScotiaMocatta Closing)

Описание: 1. The Day a 342-Year Silver Giant Filed Its Exit
2. Seven Words That Ended the Oldest Name in Precious Metals
3. Scotia’s LBMA Withdrawal and the $273 Silver Reckoning
4. When History Broke: The Collapse of a 342-Year Silver Institution
5. The Oldest Silver Market Maker Is Gone — Here’s Why It Matters



All units, this is a red alert. What follows is not another rumor, not another chart pattern, and not another speculative theory. On January 10th, 2026, at 4:22 p.m. Toronto time, a formal market maker withdrawal notice was submitted to the London Bullion Market Association. The filer was Scotia Bank. The subject was ScotiaMocatta. And with seven words, 342 years of precious metals history came to an end: operations no longer economically viable. Immediate closure.

This was not a restructuring. It was not a pause. It was a permanent exit. ScotiaMocatta, founded in 1684, older than the Bank of England, older than the United States, older than the London Stock Exchange, formally notified the LBMA that it is withdrawing from all precious metals market making activities. Silver, gold, platinum, palladium — all of it. After surviving every financial crisis in recorded history, ScotiaMocatta could not survive the 2026 silver market.

The filing makes one detail unmistakably clear. Scotia Bank must exit approximately 4.1 billion ounces of silver exposure by February 7th, 2026. That gives them 28 days. The document includes a market impact assessment commissioned by Scotia Bank itself. The median projected silver price upon completion of the exit is $273 per ounce, with a downside scenario of $241 and a worst-case outcome approaching $400 if competitive buying accelerates.

This is what makes the event historic. This is not a hedge fund blowing up or a short-term trading desk retreating. This is the oldest continuously operating precious metals dealer in the world admitting that its business model no longer works. The filing cites three causes: catastrophic losses driven by silver volatility, regulatory capital mandates from Canadian banking authorities, and shareholder pressure to shut down an operation that has destroyed billions in value.

Financially, ScotiaMocatta lost more than $8 billion over the last two fiscal years, with nearly $5 billion tied directly to silver derivative positions. Operational costs surged, bid-ask spreads collapsed, and physical delivery demands overwhelmed a system built on paper liquidity. Regulators stepped in when the silver book grew too large relative to Scotia Bank’s capital base, issuing a directive that effectively forced an exit. Shareholders followed, demanding closure rather than continued capital destruction.

The math inside the filing is brutal. Covering billions of ounces in less than a month requires daily buying volumes that dwarf normal global silver trading. Physical supply is acknowledged as insufficient. Most of the position must be closed through futures, forwards, cash settlements, and deferred obligations — all mechanisms that exert upward pressure on price. This is not optional. The positions must be closed or Scotia Bank faces regulatory consequences.

Historically, when centuries-old institutions fail, markets change permanently. Barings. Lehman. Bear Stearns. Each collapse marked the end of an era. ScotiaMocatta’s closure does not threaten the banking system, but it does mark the death of traditional precious metals market making as it has existed for centuries. When the oldest name in silver tells the LBMA it cannot survive these conditions, the signal is unmistakable.

This filing is not bullish commentary. It is an admission. The institution that has traded silver longer than anyone else is exiting, under deadline, under mandate, and under impossible math. Whatever comes next for the silver market, it will not resemble the past 342 years.