27.9 ish left in the CRIMEX. Tick...tock...tick...tock
Firstly, I would like to congratulate anyone that has been buying PHYZZ in this 'corrective' or 'dead cat bounce' state we are in. $33 for the bottom to me looks fabulous and anything under that would be a disaster for people trying to buy phyzz as my perception of anything under $30 would deplete the comex within 24 hrs of what little or no silver it already thinks it has. Hopefully, people realize by now that my 30 day countdown is still in effect. July 5-7 is the end game for this place of trade. If its not, they will magically make up some arbitrary number overnight, saying they found some 34 million ounces or some insane fuckstory like that.
There is a real delicate balance here folks; on one hand you have a chairsatan who started the printing presses up full blast, and now is taking away the heroin addicts food supply off cold turkey. This impacts directly with SLV and GLD. Make no mistake about it. The paper liquidation of the equity markets without some some new printing will be 'it.' This is where I sit on the fence about the next 5 months, in which I have yet to find answers to from my contacts. Bears 7 will be attributed to this very soon.
John Embry recently said, "More and more people are going to see the light and realize that their protection is in hard assets. And when you put that in context of how small the sector is in reality to the amount of paper out there, the moves could be outsized. I would not be surprised at huge moves in gold and silver in the next three to six months. The story is very concise now, I mean the economy is in death throes and reality is going to intrude very quickly on this picture and when it does gold and silver will be the refuges."
No one is stating the obvious; what will happen when the equity markets, which included SLV and GLD get smoked?
This is why I'm starting to take an in depth video analysis of SLV trading and looking for clues as to the future price movements.
SGS: do you think 2k oz AG in bars and ASEs and 20 oz of AU is enough? I need more lead and food though...
ReplyDeleteWhat will happen to AGQ when everything gets destroyed? its juist paper that tracks the price of spot silver. But which spot silver the real price or the paper price?
ReplyDeleteI assume PSLV and PHYS will be OK as its real! Or will all the people who have enough to withdraw their physical from that trust do so, and then suddenly those who do not have $500k's worth get f'ed just like the SLV/GLD investors?
Remember, PSLV and PHYS require you to have a shitload of shares to actually get your physical out, but at least its real and audited and allocated in Canada!
SGS,
ReplyDeleteExcellent and thoughtful commentary! I'm not really sure what the EE has in store, from the reallocated inventory to the recent news that they are settling in GLD and SLV paper on the comex.
It may be that they empty the SLV vaults before a comex default,if SLV has any fucking Ag at all!
With the recent news about Kitco, this whole shell game is finally about to collapse!
malcolm...
ReplyDeletecan you elaborate about "recent news about Kitco" please? I'm looking around to see if I can put it in context somehow, but am not seeing anything on the web jumping out at me.
Thanks much!
FUBM!!!
By the way...Turd officially launched his new site at 4:30pm EDT today. So far so good...check it out.
http://www.tfmetalsreport.com/
Late word out yesterday that the crackdown of the gold and silver manipulators has begun. Kitco, one of the partners in Gold and Silver Manipulation Scam, is being taken out by the authorities. It your fault if you have any metal in their paper games...
ReplyDeleteRevenu Quebec Investigates Gold Fraud
http://business.financialpost.com/2011/06/10/revenue-quebec-investigates-massive-gold-fraud/
There will be a lot more of this as the veil comes off the metal market rigging operations. Kitco was running a gold and silver ponzi scheme that was started by none other than the infamous Jon Nadler.
Nadler was the inventor and promoter of the Pooled Metal Investment accounts. He started this at Bank of America then implemented it at the Perth Mint, Kitco and the Royal Bank of Canada. The idea was that since everyone doesn't cash in their gold and silver certificates at the same time you could sell allocated and unallocated pooled account certificates without buying the actual metal. You then take that money and invest it in some other interest baring account and you get the interest gains.
Like any ponzi scheme it only works when people don't try to withdraw their investment. Once they try to cash in certificates for real metal the game is over.
This is where we are today...BUT WATCH WHAT HAPPENS NOW!
There are many forms of paper metal ponzi schemes including ETF's, certificate programs, pooled accounts and even the COMEX and LME exchanges which are leveraged 100-1 paper metal vs the deliverable ounces.
THE CON WILL FAIL FAST AND TAKE THE ENTIRE GLOBAL MONETARY SYSTEM WITH IT!
If you've been on the Road to Roota for long enough you KNOW that the ONLY way to survive this global meltdown is by holding PHYSICAL GOLD AND SILVER IN YOUR OWN POSSESSION!
The time for explaining the reasoning behind this is over. If you still don't get it you should read the Road to Roota ARCHIVES here:
http://www.roadtoroota.com/public/department36.cfm
The breakdown of the paper metal infrastructure has begun. With it will come the moonshot for physical metal, the destruction of paper metal to zero, the nationalization of mines and warehouse metal and ultimately the end of un-backed fiat money.
It was always the plan.
Best of luck to us ALL!
Bix Weir
www.RoadtoRoota.com
Also see:
http://www.zerohedge.com/article/kitco-charged-massive-tax-fraud-scheme-business-viability-question
Holy fuck Malcom, no wonder Nadler was such a dicktwat about gold and silver going up. I bet he is shitting the bed tonight.
ReplyDeleteTheir whole fucking scheme is unraveling right in front of them.
ReplyDeleteMy opinion is that they look at PMs and tried to perform a leveraged ponzi scheme, like fractional reserve bank, because of greed.
I think so much Au and Ag, is leased out, no one know who owns what and the worst part of it all, in that there has been malinvestment in the PM sector and the lower they keep the price the less miners have money to explore and produce.
The have place themselves in a box, they can not get out of. The suppression scheme hide the dollars worthlessness but they have to know that can do this forever.
I was reading a very interesting report the other day, screw tape files.com, it think, anyway, they charted the increase in gold price since 2001, it was capped at 1% a day or 25% or 144MA. They considered it a controlled retreat for the dollar.
do not be in slv or gld...get out go to cef and phys
ReplyDeleteI'm leaning more towards the theory that these fuckjobs are going to find a hidden stash of 50 Million ounces as soon as the entire world starts thinking that the Comex is going to default. It's a classic rope-a-dope. They are managing the data to give the impression that the Comex is on the verge of a default thanks to the tenuous position of the physical. Just when all the hedgies/momos are loaded up to their gills with long contracts, the genie is going rub the magic lamp and voila - comex inventory increases by 50M ounces.
ReplyDeleteWhere are they going to lay their hands on such a large position? The usual suspects - George Soros, Paulson, Carlos Slim, etc. These bums are very much part of the cartel. Don't let their public posturing about precious metals fool you. If they don't cooperate, then there will be numerous leaks about their fraud, investigations into insider trading or even spreading false rumors about some of their biggest investments (note how Paulson's chinese investment was taken to the cleaners).
There's also the interplay between JPM setting up a depository and this inventory that will appear out of nowhere. The holder of the largest concentrated short position also gets to open a warehouse. For real??
SB
ReplyDeleteI hope there is 50 Million more ounces to buy ! Gives us all more time to buy More ! But what if there's Not ! I'm Sure the Banksters Stole Libya's Gold, and they could of also had some silver.. I'm not willing to chance being able to buy much cheaper than this anymore.. I'd Love more time to get my hands on more and to be able to tell others..
SGS, If silver is so short and tight, would it be good to buy some SLV puts?
ReplyDeleteThanks
What do we think of SDS (the double inverse of the S&P 500)? I think the S&P 500 is going to take a dump very soon and won't be done until QE3 rears its ugly head.
ReplyDeleteThoughts?
Adam,
ReplyDeleteI was looking at shorting the S&P mini, but SDS sounds much better and I think I'm gonna risk on shorting the Euro.
JU,
Comex options expire next week, I think we all know that the EE hits during that week. Longer term out I dont know.
From my perspective I would be shorting the overall market until about Aug. and long Gold and agriculture.
American Fukushima closing in:
ReplyDeleteJune 10th:
http://www.naturalnews.com/032672_nuclear_power_plant_Nebraska.html
June 15th:
http://hawaiinewsdaily.com/2011/06/nebraska-nuclear-plant-at-level-4-disaster/
June 21th:
Main stream media awareness/live coverage.
@malcolm I bought a small position in SDS today at $22.16/share. If it goes significantly below $22/share I will buy more.
ReplyDelete@ Everyone
ReplyDeleteThis is insane. How much longer can they keep driving silver down? This is really starting to piss me off.