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  • Precious Metals Disappoint: Time To Change The Way Of Looking At Precious Metals [View article]
    The record pace of international deals being made outside the Reserve Currency will be a factor. If the US Debt was normal, then deflation would probably be absolute.
    The new normal, all countries currency are racing to zero. They have to in order to pay off debts.
    If you lived in Russia the last 8 months, there was deflation, but gold gave an appearance of rising. The Russia Treasury accumulated even more gold in the last 8 months. So did Turkey.
    I have no idea how this will play out. This is a first in world history where the printing press cost went away due to electronic printing. There is no limit or limit to the speed that currency can be created out of thin air.
    Feb 24, 2015. 03:44 PM | 2 Likes Like |Link to Comment
  • Precious Metals Disappoint: Time To Change The Way Of Looking At Precious Metals [View article]
    Seriously, good luck with that plan.
    My expectation is that a banking holiday or whatever they want to call it at the time could leave many on the sidelines.
    It could be that overnight the price goes down but the premiums are double the price.
    There are so many triggers involved in complex systems none of us can control. They can change very quickly.
    Feb 24, 2015. 03:35 PM | 1 Like Like |Link to Comment
  • Precious Metals Disappoint: Time To Change The Way Of Looking At Precious Metals [View article]
    You wont see a Dime. DOJ is just investigating so they can say they found no evidence.
    Just look at how many 2008 Wall Street crimes were investigated since 2008. Not a single one.
    Why should you expect anyone else to defend your honor if you are not willing to do it yourself? -- G. Marx
    Feb 24, 2015. 03:17 PM | 3 Likes Like |Link to Comment
  • Hi Ho Silver Away [View article]
    $18.00 scared me. Sold silver mining stock. Sat on sideline for the last few weeks. Trading once a week wears me out.
    Janet Y testified to congress today (2/24/2015). Going back in to mining stock at $16.25. Will see how this cycle goes.
    Feb 24, 2015. 03:07 PM | Likes Like |Link to Comment
  • Lunar New Year & Pending Indian Tax Cut Used To Attack Gold Prices [View instapost]
    The only predictable High Frequency Trading direction is down, at least on a FMOC Federal Reserve meeting or Federal Reserve testimony day. Today was no exception.
    Janet Y told us this new truth: Central Banks should not be penalized for lowering the value of a currency.
    We assume it means lowering a currency to zero.

    Just like every other FMOC meeting, Gold and especially Silver ETF (paper stock) will drop. It shows confidence for the FED.

    This time was different. Yes, the paper traders knocked the price down. But it popped back up? Popped back up 3 times in a row? That hurts! Nobody sent me the memo.

    Feb 24, 2015. 02:57 PM | Likes Like |Link to Comment
  • Yet Another Useless Article About Gold Supply And Demand [View article]
    unsold oil in storage? Those of us in the industry know that someone did buy it, and put it into storage. What model are you talking about?
    The people that bought it had access to cheap, near zero interest paper so they one-way-or-another bought it. Just another example of the mis-allocated resources caused by inflation of fiat currencies. That is indisputable. So, the supply demand model is totally distorted.
    Past oil buyers may be upside down in the deal today. They won't sell it because it would become a true default. So, they pay the zero interest payments. It is the same with upside-down homeowners. They can't sell. So, cheap money funds building more homes despite the surplus of homes that were sold but can't enter this market. Fiat lending totally distorts any supply/demand logic.
    Feb 2, 2015. 03:56 PM | 1 Like Like |Link to Comment
  • The Next Debt Default Is America's 4th, Not 1st Time: Therein Lies A Treasury Trade. [View article]
    Great Article on your part: I think you should include the Continental Dollar
    It was the US first experiment with fiat currency.
    The country had inflation, misdirection of resources, food riots, no industry, high unemployment...
    Then President George declared it treason not to trade precious metals.
    Within six months, there was full employment.

    Amazing how the "unseen hand" worked better than overpaid central bankers.
    Feb 2, 2015. 03:36 PM | Likes Like |Link to Comment
  • Silver Looks Bearish Compared To Gold [View article]
    Thanks for the great analysis. It would help if you could add one more vector.
    Your charts only show ETF pricing. That assumes there is actual physical silver backing each contract. Could you please chart the physical inventory of Silver in the EFT?
    I noted on Monday that there have been historic physical silver withdrawals with almost no deposits into the ETF since early Dec 2014. The actual physical silver inventory is very low. The general trend would indicate there needs to be a measurable amount of silver drawn out of the market to deposit into the ETF soon.
    Looking at the past ETF pricing when there was a full physical inventory in the ETF for the contracts vs. a fractional physical inventory in the ETF would be very useful.
    Jan 29, 2015. 11:08 AM | Likes Like |Link to Comment
  • Hi Ho Silver Away [View article]
    Andrew, in general a good article.
    The near historical event that the Silver ETF we mere mortals use to set the price of silver has had record physical withdrawals (and virtually no deposits) since early December 2014. So, this isn't the price for silver, it is the price for an IOU actual silver.
    I can't expert you or any other investor to explain what appears to be the secret non-transparent working of the silver ETF. However, it is worth noting.
    Last week, I projected there would be a HFT (or spoof trading) to knock down the price of silver ETF even if the USD index fell.
    While I don't have any fancy formulas or charts, my gut feeling was that the Junior Silver Mines failed to respond in-kind to the Silver ETF pricing uptick.
    It would be interesting if you could put your excellent chart skills to look at Junior Mining stocks and speculate if they have some type of predictive ability.
    Jan 26, 2015. 10:57 AM | Likes Like |Link to Comment
  • Gold Is A Buy, Even If You Are Not A Gold Bug [View article]
    Expect a HFT smashdown for the ETF even with the USD downward correction.
    The silver ETF inventories are at an almost decade low. Since early December 2014 there have been record physical withdrawals. However, the CFTC doesn't appear to hold the too-big-to-fail banks moving electronic bits from a propritary accounts to the reported values accountable.
    As I mentioned last week, the High-Frequency-Trading or spoof trading is likely to take the Siver ETF down regardless of any actual supply-demand. They need to do this to cover the positions for which there is no silver.
    This article would be more interesting if it included the Premium for actual physical silver as part of the delivery.
    Physical deliver for manufacturing or investors has risen hundres of percents over a short period.
    German and othe manufactures have created physical silver trusts to prevent a stop in manufacturing as most beleived happened to Apple in China a few short years ago. Silver Solder can no longer be replaced with lead solder just because of a shortage on the assembly line.
    Jan 26, 2015. 10:46 AM | Likes Like |Link to Comment
  • What Is Driving Up SLV Besides Gold? [View article]
    Just very surprised the story doesn't mention the largest one-day withdrawals. Why would an authorized participant take out 6.5 million oz (physical)?
    Since Silver rallied, no physical has been deposited? Isn't that newsworthy?
    Please explain the massive physical withdrawals since the rally.
    As of 1/1/2015 over 11 million oz were withdrawn from SLV. Since the rally in early December 2014, around 31 million oz was removed.
    Lets not forget that even the US Mint (and other sources) ran out of silver after record breaking sales months.
    Is there physical silver available to deposit into SLV?
    Does the lack of depositing physical make SLV "fractional"?
    I suspect the HFT traders that plague this ETF will soon spoof down the paper price to flush out those silly enough to buy Silver ETF on margins.
    Jan 22, 2015. 01:24 PM | 2 Likes Like |Link to Comment
  • Is SLV A Better Buying Opportunity Over GLD? [View article]
    Amazed how an article now days ignores the HFT assault on SLV and discounts the massive short positions by a major bank that would make the late Hunt blush.
    What about the risk of SLV outright defaulting should a sizeable withdrawal be ordered?

    The Fixing as it has been called for decades, by a few insiders is synthetic. It has little to do with physical supply and demand in the real world. The USGS report over a decade ago predicted Peak Silver around 2013.
    China use to be the largest exporter of silver until a very few years ago. Now they are net importers as they understand the Peak Silver.

    Silver Mining stock is the most hated stock at this point in time. My preference is to go with mining stock where silver isn't just moved around on some high-frequency digital carts. The day SLV is squeezed for physical delivery, the mining stocks will change drastically. Owners of SLV will be holding digital paper.

    Call it credibility, rumors or unanswered questions. There are plenty of reasons traders avoid SLV. If the HFT trading at SLV isn't fully transparent, find an alternative to the goal of investing in silver.
    Oct 27, 2014. 06:38 PM | 2 Likes Like |Link to Comment
  • Micro Cap Biotech Stocks Being Accumulated By The World's Largest Money Managers [View article]
    The Facebook offering exposed that much of what is on Wall Street can not be completely trusted. As one veteran investment company said on Bloomberg July 12, out of 25 key functions, 24 of them were absolutely wrong.
    The overwhelming trend will be based on the government interventions rather than any free-market trend. If QE3, QE4, ... direct money into commercial real-estate or any other business sector, the money will be pulled out of all others and run to the government intervention. Debt will drive the markets, not innovation. It is really too bad at so many levels.
    I just can't trust the system at this point.
    Jul 13, 2012. 11:05 AM | Likes Like |Link to Comment
  • Precious Metals Wrap Up: Another Week Of Rising Prices [View article]
    Interesting that banks are basically cashing in dollars to buy gold. There was a new metals competitor opened overseas this week. Given that SLV is estimated 15% paper contracts that are not backed by anything much like MF Global.
    Bart Chilton of CFTC was on Bloomberg this morning regarding MF Global. My take was the CFTC wanted Tax Payers to bail out any fund mismanaged portfolios (SLV may be in this category) that fails to meet the terms of it's own portfolio. In the case of SLV, Blackrock is paid massive dollars to guarentee the portfolio is followed. If the CFTC put the board of Blackrock on notice to do what they are paid for, all of the commodities might be trustworthy again. And, how dare the CFTC even suggest Tax Payer dollars in some "fund"?
    Dec 20, 2011. 05:39 PM | Likes Like |Link to Comment
  • Global Sovereign Credit Default Swap Prices [View article]
    How fast things change - the moment it is printed - there were updates Friday:

    Irish Times just reported : "Moody's cut Hungary's government bond rating by one notch to Ba1, below investment-grade"
    Belgium has been downgraded from ‘AA +’ to ‘AA’ by Standard & Poor’s.

    S&P: (the) return demanded by Belgian 10-year bond's has soared from 3.6% to 5.8%. Thus, the risk premium against the German ‘bund’ is now around 360 basis points.

    The *rate* of defaults and downgrades will accelerate very rapidly.
    Nov 26, 2011. 10:22 AM | 1 Like Like |Link to Comment