COMEX Fraud Report:
-240,883 volume today. Wow. No wonder we cant get our legs above 1430...must be nice to short to infinity, but I guess Gold is a bubble now
-OI rose to 138,460. This is a DISASTER for the banks.
-40 contracts left. I guess they managed to scrap together some ounces overnight. Good for you. I look forward to the massive April and May problem that awaits you.
I took this from a poster over at Harvey blog, he says:
"Agree. I'm tired of waiting for "the COMEX default". The five separate bears videos. Wynter Benton. Claims that silver will be the same price as gold. This dude Silvergoldsilver saying gensler is leaving the country. Yawn. Tired of getting excited about so called epic events that that never happen."
I'm not too sure which bear video it is, but I said to be patient and I guess 110% return in one year is bad for someone in this easy money making economic time. Sorry if we are hyping it up too much, maybe our entertainment is not as good as CNBC these days. Also, I am no longer going to battle the trolls, comment back to negative comments, or entertain fuck suckers that waste my time. If you can prove us wrong, START YOUR OWN BLOG and be a hero. So the new rule is set-fuck off, I will just delete stupidity, don't waste your time posting it, we know we are wrong and you are right. We need to figure shit out here in a constructive, research orientated approach from here on out.
So, we are going back to the basics. Which are, 1. Metals Reports (which may be a complete fraud anyway) and 2. Options activity.
Options are where the smart money is. I will try to give you some insight everyday of where people are hedging the price to go. So far, its looks as if April/May $40 is inevitable from the calls activity.
We are coiling and consolidating and placing bets for the new wave of buying. The Fed is doing all it can to stop this immanent explosion from happening by talking down QE2.
So Here's my theory. The Fed needs an excuse to print some more. June is the end of QE2. Why not create a fucking vacuum in the market to the downside, by not printing anymore, and FORCE the idiots in Washington to sign another bill for more before the World collapses? Easy peesy.
Now, where PM's fit into that equation will be interesting. I'm researching some phenomenons about a liquidation in the overall markets and what that means for SLV and GLD. Again, if this should occur, my inclination is that people will clear out the physical, regardless of spot price, and price discovery would commence. Anyhow, we are months away form this happening, so in the mean time I will be buying dips and getting ready to celebrate $40.
One of the most interesting thing happened to my yesterday (as well as the CFTC). As many of you know, I am part of a fight club. Yup, not a typo there. At the end I was pulled aside from the organizer and told me he has something disturbing to tell me. I, like most people, would think that his GF has some VD or some drippy thing like that, but it was quite the opposite. He told me that one of his private clients is in bed with a high level member of the Dept. of Homeland Security whom resides in buffalo. I said big fuckin deal. Then he said, "He told me to start stock piling food and supplies."