First off in the Gold vaults we are witnessing a sure fraud. A delivery month with 3 days with no delivery into the dealer vaults is rare-we are wondering how they are settling, if settling at all.
As for silver:
Zilch into the dealer vaults. Nada. Zero hero.
The customer deposits 1 million oz (today! think about what 1 million oz looks like) and then its ALL massively withdrawn. Epic.
About 1.2 million oz for February to be served. Oh, right, its 2 days into February.
And guess who shed inventories? Yours truly Mr. SLV from he JP Morgue. Are you starting to get the picture yet? As these posts go on, you will begin to see a nice little pattern emerging as we do.
The equation looks like this: LBMA+CRIMEX= "we know we are fucked"/call Blythe fast x JPM liquidate some physical or whats left of it to put out fires+call Ben to print/ {get Erin on CNBC to pump that gold is bubble story, again, hurry}
Keep this equation in mind moving forward as March approaches and half way through March. Overall, I'm hearing a consolidation in the metals market until March. Accumulate, and be ready for the stratosphere Round 2 in the early Spring. My predictions are there will be 10 rounds. Like Mikey T.
Every night check in, the metals market will tell us what is really going on. This will give us a better indication of what we can expect in fiat spot price.
QUICK NEWS
Egypt still rock throwing, Cotton Limit up, Debt ceiling raise inevitable, Faber calls the Ben Bernank a whore-basically, Scotia Maccotta sells out of ALL silver bars (says does not want to have a lot of inventory b/c fear of price going down (CEO may be mildly retarded for thinking this), bank runs in Ireland, and EU, and SNOW or some sort of HAARP related side effect wreaking havoc in, fuck, well every continent today, even my shitty little city is a blizzard.
I will always reward my audience with a video whether metals related or not...
Part 1
http://watch.bnn.ca/#clip411554
Part 2
http://watch.bnn.ca/#clip411572
NOTE: My linking is not working, maybe Blythe is trying to make my life a living hell by disabling this feature.
Awesome blog MrSilvergoldsilver! Thanks for the update and happily clicked on the ad to the left to keep the blog rolling. A question I've been having is whether or not to liquidate my junior mining shares (SDRG) and just use that to buy physical. I have a hair over 500 oz and liquidating $2k worth of shares would surely add some physical. Thing is, I keep hearing peeps talk about juniors going for the home run but don't we still have to cash out in fiat one way or the other?
ReplyDeleteAnd also, Apmex has also ran out of 100 oz bars for immediate delivery.
MrSilvergoldsilver, my guess is that I should stack maples than going for say proof britannias and other related stuff. Thx!
Please correct me if I am wrong. So, they will continue to deplete the SLV physicals to fullfil the physical delivery ?
ReplyDeleteThat means SLV will be liquidated into just Cash at mid 20's.
Am I right ?
Hi SGS, what do you think of AGQ and SLW ? I need to make a move on my porfolio..
ReplyDeleteThanks!
So would you expect the counter attack to be?
ReplyDeletePrice up to get the bars cashed in? (40-50/oz)
Price down to make the fiat settle chicken feed. ($25oz)
Rabbit out the arse with the CTFC, use them to their advantage.. "halt on SLV/GLD" whilst they "investigate" long enough to let the whole thing blow over.
Other???
Great info as usual MrSGS. For the near term (before a default), is it safe to play options on SLV for a quick leveraged gain in fiat that could be turned around and used to purchase physical? I'm eyeing the April calls, not sure which strike yet. If not SLV, how about SIVR? Unfortunately I think its custodian is HSBC. I know Sprott's PSLV is a safe bet, but he doesn't have options yet so no leverage for the little guy with only a few thousand to play with. Any advice appreciated. Crash JPMorgan - Buy Silver
ReplyDeletePlate: SDRG is shit (remember I'm blunt about things) chart looks like complete shit, although it looks like some sort of bottom at .10 here. Any silver stock that has dropped by more than 3/4 of value in the last month, is IMHO, a pump and dump, and those who got caught at .50 got fleeced. If you are looking for junior mining companies (hopefully you have access to the Toronto Venture Exchange) I have a list of about 15 you should be in. Homerun? We hit grand slams. I dont want to sound like some pump and dump myself, but 75% of the juniors I pick have fantastic returns b/c of the contacts I know. I will be posting a list of juniors I like on Sunday. You should be stacking Maples, and dont overlook Austrian Philharmonics.
ReplyDeleteUSER2008: SLV is a tool, nothing more, to Blythe and the JP morgue to suppress silver. If anyone tells you anything different they have no clue what they are talking about.Think about it, withdrawing something you dont have into the 'market' (pretend monopoly silver bars), is nothing short of a mind fuck that works perfectly. Sure they have some bars, albiet putting out all the demand right now at the CRIMEX. You will notice on days POS is down 3-5%, they unload some asinine amount into the market, that in theory capitulates the POS down that much more the next day. And on up days, they add some unfathomable number of oz's that not even God himself could track down overnight. Its a tool. I'm assuming they will be getting a copper ETF soon too ;) its so fucking easy for these guys it makes me sick. The reason I know its all smoke and mirrors is b/c when Eric Sprott wanted to see their vaults, they said no (only JP morgue 'auditors' can see the vaults)...nuff said.
In regards to AGQ I'm not sure which AGQ you are referring too as I myself is in AGQ.V (arian). And just throwing out stocks at me is like asking me how long a piece of string is...how long do you plan to hold it? Entry? Exit? For what purpose do you hold these? IN an RRSP/401k? the list goes on and on...and I wouldnt want to get you into X if Y were to happen if you know what I mean.
Thanks for the update SGS! I dont have access to the TSX ( I'm using Scottrade, I'll see if they have access to use it) but I will await for your picks.
ReplyDeleteMy plan is to leave the US and move to a place like Colombia (lived there before and know a thing or two about a different cartel...though the drug cartel is related to banking cartel) or Thailand (need to find a way to bring in my silver without paying ass VAT tax, although they are not strict as Europe) and start somewhere fresh again. Hopefully my small amount of ounces will do that for a meager living.
Mucho gracias again
TSX is different from the Venture....just to clarify...
ReplyDeletePlate/SGS-
ReplyDeleteSome Canadian stocks are available on Scottrade. For example, Arian is ASLRF, which I have some of but not enough :-)
I'd forgo the high premium stuff like Brit's, proofs, and esp. proof Brit's at this time. Stick with the basics: Eagles, Maples, US junk, and easily recognizable 10oz bars. Phils & Libertads are good too if you aren't paying too much.
Some light entertainment: Gwen of the CFTC
ReplyDeletehttp://www.youtube.com/user/princesumo?feature=mhum#p/u