Thursday, March 3, 2011

Comex data is useless, Buy the dip before the NFP data


-OI rose by small amount even after strong breakout
-Robust volume suggested that the shorts came out to play, again.
-Harvey, "Let us begin with gold. It is getting to look like more like a monstrous fraud as each day goes bye."
-No notices sent down, no deposits, no deliveries. I forgot to mention that gold is 5000 year highs. No Movement in the comex. None. Rein. Nada. Zero hero.

-OI rose
-March OI drops from 2251 to 2040, suggesting that Blythe has continued to deal crack
-Harvey, "This is totally unprecedented to have 4 consecutive low notices and silver and yet see a drop in the OI"

Nothing different here. I would recommend putting in stinky's around $33.50 because its coming before the NFP data. I will be a buyer of more physical tomorrow at those levels. I would prepare to bounce around in between $33-35 for a bit here, until the hype begins again around the next delivery month, or the "day of rage" actually comes to fruition.

I would also like to thank my supporters and comments that are made daily. I would have ended this blog weeks ago if it wasn't for your support, questions, and genuine concern for the well being of the world. There are many many people dying as I write this. For what? Some old faces printed on some paper? I can honestly say I cant wait for the reset button. I will be here when its time to prepare for it.

Until then, you will get your chance to buy silver on sale. Insider told me that Blythe needs to stay away from $35 on the SLV. Covering those calls are going to be a disaster for her. So the battle ground line has been marked.

I would also like to apologize for the dismal hora this post has. Its dismal and depressing because the data we are getting now from the Comex is blatantly fradulent. How the FUCK can you have NO withdrawals or deliveries when gold is at this level? Very depressing right now that we cant give a report that has merit backed by real data. I feel like I'm reporting what JPM wants to report out of the CRIMEX.

Oh and Dennis is complete douche sac. He should be lynched. Case closed.

QUICK NEWS: Brought to you by...

Food prices hit all time high, Euro worthless $ worth more than the USA worthless dollar today, Chatter of Yuan gold standard, Market up 200 on fuck all or maybe more people are renting more netflix videos, QE2 Ends June 1-if no QE3 announced buy man many puts it will go down like 2008, food stamps all time high, another recession-like we ever came out of the depression is inevitable without QE3, has everyone forgot about SPAIN??


  1. Got a few stinky's in here already a bit lower than $33. I'm not as optimistic all of the sudden here. Just seems we are going to get whacked here for some reason. It shouldn't really happen but with all the shenanigans going on in the CRIMEX and related Wall Street computer networks anything is possible.

    I called the Bank of China today in New York (China Town) and asked if I could come in and trade my dollars for Yuan currency. The China girl there said that would be fine. I asked if there's a limit to how much I could get and specifically asked if I could come in with $1 million US and trade if for Yuan if they had enough. She said that would be fine and said the exchange rate today was 6.492 YUAN for $1.00US.

    Recently went to the bank here In the USA to withdraw $9,000 cash and was told not to do that anymore without asking for it a week in advance. How about that?

  2. Thanks for your posts! I'm fairly new and the technicalities confuse me a bit plus I have a solid amount of physical silver. Nevertheless, I relish you're perspective down in the trenches. Keep it up. :)

  3. You think Blythe will be able to keep a lid on price at 35 even with the supply/demand dynamics so out of balance? I don't think that's possible even for that stupid bitch because if it were silver would still be sitting in the teens. Even the Wicked Witch's powers are limited.

  4. Flaunt: SLV price lags by $1.50 to spot. So even if we see $36 spot she will still be in the clear...after $36.50 spot is where its going to hurt for her...thats why it will be a bloody war to get there.

  5. SGS.. yea some coudy/dismal reporting but you know what.. I want to KNOW the truth. If you don't know what is going on you can not prepare.
    Thanks for what you do. Still hoping for 50.00 silver by April 24th!

  6. New here, but I check in a few times a day. Thank You.

  7. Continued from above:

    I was also questioned recently for sending large wire transfers for gold and silver and was told it was because of some B.S. about "Homeland Security". Good thing I know the people at my bank and made a joke about it but this is really getting weird here folks.

    This is the reason I'm buying more gold and more silver and I'm keeping just enough in the bank to do the usual day to day life transactions. I'm also going to be using credit cards to my advantage until this thing busts. And I'm convinced it will!

    If you want to call the China bank in New York and ask them yourself the number is: (212) 925-2355.

    I don't know if I'm going to bother doing this but I'm thinking about it. Just more paper but if it becomes the world currency standard, that may be an a possibility. I do prefer metals.

    Read also Obama is sending food aid to Libya. Maybe that's where the dollars are going?

  8. Hey SGS. Don't close the blog! For the few that comment, there's probably x10 (or x50 - you have the stats, do the math) that read on a daily basis. As Orwell said years ago, “Political language. . . is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind...” the informed minority are hungry for the truth. For better or worse, you're a piece of the puzzle.

  9. SLV could lag comex spot silver by $1.50, but usually, just multiply spot silver by 97.7%. If you graph the SLV:silver ratio, that is your average. Try it on

    The gap between SLV and silver will keep getting wider slowly over time, because SLV has storage fees.

    Today, I guesstimated that at 9:30am today, silver spot was $34.5, and SLV was $33.64. So 33.64 is 97.5% of 34.5.
    And at 4pm today, silver spot was about 34.25 and SLV was $33.62. And 33.62 is 98.1% of 34.25.
    So today, the SLV was 97.5% and 98.1% of spot silver, depending on the time of day.
    So, SLV is usually about a $0.75 less than spot silver.

  10. Please keep posting !

    I think comex survives spring, but I think this whole silver deal is one of the big faults in the financial system and if/when it cracks.... get ready !!!

  11. Lets say Blyte gets the call to cover all her shorts- Wont ol' Benny fire up the press for a bit more stimulus?

    The Morgue is only deep in around 80? Trillion; QE3 and some of QE4 should cover that.

    I dont think the reset button is as close as many hope it is.

    Keep up the good work.

  12. "I think this whole silver deal is one of the big faults in the financial system and if/when it cracks"

    For sure! Silver is the gap in the articulation of Leviathan's carapace and the Silver Liberation Army has all it's firepower locked on this weak spot! FUCK IT i'm maxing out my credit and buying physical.

  13. SGS I and others rely on your blog. Thanks .

    The first thing I read in the AM and the damn last thing at night.

  14. SGS, read the blog everyday & part of the must read list. We appreciate it & all enjoy the candour & straight talk.

  15. Am I missing something? Where does it say this blog is going down?

  16. SGS,

    Keep the river flowing -say it like it is. I know I will not get bullshitted with any of your great info!


  17. Hang on a sec, SGS... You're saying that Blythe has sold naked calls on SLV?? The only way that would help suppress the price of bullion would be if SLV is actually taking in real physical bullion when money is flowing into the fund, and releasing it when money is flowing out. If she depresses the price of SLV then bullion would flow out and be made available on the market. Thing is, I haven't noticed SLV trading at an abnormal discount to spot recently, and I know you don't even believe that there's physical backing up SLV. So, exactly what would be the point of writing naked calls on SLV?

  18. SLV can not be above 36, isn't that means silver spot price will never hit 40 ?

    I thought they can just buy time but they can't stop it from going up indefinitely. US dollar keeps dropping in value. That's means foreign countries will be buying PM cheap. If I were Chinese or Indian or OPEC countries, I would get the US dollar and buy PM if they were that much cheaper. They will just blow the silver future wide open. Chinese are allowing their businessmen exchanging their currency at will now. Silver, gold, metals and oil are in high demand. If JPM keep suppressing the price, it means big sales for those foreign buyers. They will buy even more. Chinese had already shown importing more gold in the first two months. They will continue to grow as the Chinese Yuan exchange rate will relax more.

    More OI, more premium to pay off, JPM can't win.

  19. SGS: I read your blog 20 times a day and read all the comments. DO NOT CLOSE IT PLEASE.

  20. "If I were Chinese or Indian or OPEC countries, I would get the US dollar and buy PM if they were that much cheaper"

    They are! LOL they are raiding the comex of what left of the Physical silver and leaving the paper for Blythe and the American taxpayer once this bitch blows wide open.

  21. what is all this about using credit cards to buy physical? When everything pops does that mean your credit debt disappears? Or are you thinking you will just pay the debt off when it pops? I would love to max out my credit card and get all physical but I think that would be to big of a risk.

    Question: How much silver do you think I should have to be safe and get buy? I do not make a lot of money however I do have my physical.

  22. SGS, if comex is dry.. should it be over at the end of March ? May be they can lease metal from SLV or someone else. But then there are more OI for May. How can they contain it ?!

    Some people are taking the physical and run with it. How can Comex replenish the lease metal when JPM keep writing naked short on the silver?

  23. Put every dime into silver. It will be $150 within 2-4 yrs and help you maintain purchasing power. American government is spending money like there is no tommorrow. The real problem is to spend that money the USA is borrowing from others. If those lenders slow down the lendng we are in trouble. If they stop lending, our economy crashes. You can buy bread with a silver coin. Your stocks will be worth 98% less in a real stock market crash. Not gold or silver.

  24. Coconut: Comex is dry means there is not 50 million in there, but there may be a few million. thats why the OI is dropping like its hot for cash Blythe crack premiums. Oh it can continue for a long time, but when the music stops, you better be sitting on your physical. They are bleeding, but they can bleed for a while.

    David: I cant help you with that question. To me I need 25,000 oz's. Some may need 4 million. Some may need 200 oz's. No idea how to answer that sorry man.

  25. I just have 1200 ounces and can not buy more.

    I am not Rich like SGS.

  26. sgs,

    what happened to you, you thanking he commenters, this doesn't seem like you :) i enjoy your blog, keep up the good work.

    One observation and one question:

    - you mention 35$ on the SLV. Considering the 1.50$ (or 2-3%) discount to spot, which would be around 36-36.5$, it conincides with the number mentioned by amber, constrained by derivatives. putting authenticity aside, i found it interesting that the numbers and reason at least seem to match.

    - any updates on the transaction you mentioned on Feb 28th ("my contact tells me on friday, he has never seen a transaction like the one he saw")?

  27. Bare with me, I am posting from my blackberry as I am out and about. I have to say, its f*cking torture trying to do so, but I had a few important points.

    First, utah is voting on passing a bill to allow gold and silver as an alternative currency to the bernank note.

    Second, saudi arabia does not have any spare capacity to export. One big phat lie. Saudi aramco is getting ready to start pumping co2 into their giant ghawar field to keep production up. This is not a good sign for them to increase any production, but rather a tell tale sign of a field ready to collapse.

    I will have a couple of interesting posts tomorrow when I am able to get to a real f*cking computer.

    Until then...god bless the cheesemakers.

  28. That's nice. I feel much better about my few 100 ounces. /s

  29. Some Euro/Spain refreshment news...

  30. David said
    Question: How much silver do you think I should have to be safe and get buy? I do not make a lot of money however I do have my physical.

    David ive seen it written before that 1000 ounces, food supplys an a gun should be enough to get through this mess ... more of each and some farm land would put you in the box seat

  31. Keep Blogging.

    Your blog is the only one that keeps me up to speed. All the rest of the sites on finance and Gold /Silver are way too slow. By the time most of the others write about a "road-accident" I get the feeling the truck will have run over me.
    I used to click everyday on Max Keiser but he's now just turned into a self-publicist with a serious Man Made Global Warming Masturbation problem.

  32. Don't stop blogging, MrSGS. I prefer your no-bs analysis to some of the long long winded bloggers out there.

  33. Why stop bloging SGS ... you are starting to get good at this ... would be a waste of talent if u picked up your computer and threw it in the toilet an flushed this blog.
    Not everyone is going to write something on this little roll.
    So dont be blythes hoe,
    stay with us, dont go.

  34. Hey SGS,
    I just found your blog a little while ago and it's one of the few out there that tells the truth. Please keep it going as there are not enough good guys like you, to outnumber all the crap MOPE the bad guys are spreading around. We need someone who can really distinguish the difference and alert those like me who aren't experts in the silver areas and all else you do. Much appreciated - keep it up! All the best!!