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Gold and Silver • ALL US WHOLESALERS SOLD OUT OF ALL PHYSICAL SILVER!!!
ALL US WHOLESALERS SOLD OUT OF ALL PHYSICAL SILVER!!!
http://silverdoctors.com/cnt-sold-out-o … al-silver/
APRIL 15, 2013 BY THE DOC 30 COMMENTS
*UPDATE: ALL US WHOLESALE SUPPLIERS ARE NOW SOLD OUT OF EVERY OUNCE OF PHYSICAL SILVER & HAVE SUSPENDED ALL SALES! SDBullion.com has closed due to lack of ANY AVAILABLE SILVER!
Two of the largest wholesale suppliers in the US, including Amark and CNT, who is the supplier of gold blanks to the US Mint for Gold Eagles, and is a registered COMEX depository, HAVE JUST SOLD OUT OF ALL PHYSICAL SILVER!!!
In the face of an EPIC TSUNAMI of gold and silver sales today as the cartel hammered the price of silver down over 12%, and off $6 from Friday’s open, we have just been informed at SDBullion upon trying to place a large inventory order that BOTH AMARK & CNT ARE SOLD OUT OF EVERY LAST OUNCE OF PHYSICAL SILVER!!!
Apparently the fact that one of the largest wholesale suppliers in the US is SOLD OUT, while simultaneously the 2nd largest silver mine in the US is offline perhaps permanently is of absolutely no consequence to the paper dumping cartel bullion banks.
The alleged silver shorts are going LONG HERE AND NOW, and will be NET LONG by 9pm Thursday evening when they must have exited their short positions.
AND……IT’S GONE!!!!!
2013 Silver Eagles (on-delay but Available for now)
at SDBullion!
Statistics: Posted by DIGGER DAN — Mon Apr 15, 2013 4:31 pm
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Gold and Silver • Maguire – Over 500 Tons Of Paper Gold Sold In Takedown
Maguire – Over 500 Tons Of Paper Gold Sold In Takedown
http://kingworldnews.com/kingworldnews/ … edown.html
Whistleblower Andrew Maguire told King World News that more than a stunning 500 tons of paper gold has been sold in today’s takedown in the gold market. Maguire also spoke to KWN about the staggering Chinese physical gold purchases. Below is what Maguire had to say in this remarkable and exclusive interview.
Eric King: “How much paper gold was sold to take this market down, and how much tonnage have the Chinese and others been taking out of the physical market?”
Maguire: “Just since the cross (today) of $1,550 into the (London) fix and the breach of $1,500, we are now looking at in excess of 500 tons of paper gold that’s been sold.
Eric King: “So all of that is today?”
Maguire: “Yes.”
Eric King: “So when you look at the tonnage being taken out by the central banks in the last couple of weeks, including today, what kind of tonnage are we talking about on the physical side?”
Maguire: “Deliveries in Shanghai alone in March were 283 tons. In the eight trading days of April, we have seen another 117 tons (of gold) delivered. Today was another 20 tons delivered. So what we are looking at here is over 400 tons (of gold) in less than a month and a half.
Eric, consider that the basis of all of the mainstream media shills coming out and saying, ‘We’re in a bearish market because GLD, the ETF, has dumped around 200 tons since the beginning of the year. But what we are talking about here is China having purchased and taken delivery of over 400 tons in less than a month and a half. And since the beginning of the year (that figure) is substantially higher. It’s probably in the 800 ton range (for the Shanghai Exchange).
So it just amazes me how people concentrate on what’s happening in one paper market. What we are seeing today is actually a very positive development. I think we’ve reached a point of capitulation. I cannot see how the central bank buying cannot overwhelm all of these short sales, despite the leverage.”
Statistics: Posted by DIGGER DAN — Sat Apr 13, 2013 12:55 pm
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American • THE BIGGEST LIE EVER SOLD TO AMERICANS
THE BIGGEST LIE EVER SOLD TO AMERICANS
Posted on 16th March 2013 by AWD in Economy
A succinct presentation about inflation. It’s the silent tax. The U.S. dollar has been devalued 20% in the last decade alone. Did you have investments that went up 20% in the last decade? If not, you’ve been taxed (and you’ve lost money). Cash sitting idly by is melting away, every single day.
Bernanke is printing $118 million dollars every hour of every day, $84 billion every month. Inflation is a lagging indicator, but when it kicks in, it’s unstoppable. And those that believe we can’t have hyperinflation without wage inflation are wrong. In a stagflation picture, wages stay the same or drop as inflation continues skyward. Remember the late 70?s and early eighties? 12% inflation. Worse, interest rates were also 12%. Once inflation takes off (if it isn’t already), interest rate must rise. Then the whole debt bubble threatens to collapse as the debt is unserviceable (never mind the $210 in unfunded liabilities).
Bernanke is out of bullets. At what rate of inflation is he finally going to stop printing money? 20%? 30% If he pulls the punchbowl of QE heroine, or unwinds the Fed portfolio, we’ll have market collapse. He’s pouring gasoline on the fire now, printing billions just to keep the debt bubble inflated. It’s not going to end well.
The Biggest Lie Ever Sold to the American Public
Submitted by Phoenix Capital Research on 03/15/2013 12:53 -0400
The US has been lying to all of us for decades now.
We’re not talking about some kooky conspiracy theory… we’re talking about INFLATION.
By understating inflation, the Federal Government and Federal Reserve have done two things:
Exaggerated our economic growth.
Lied about the true cost of living in the US.
Regarding #1, every time the US prints GDP growth numbers, it adjusts this data for inflation. The reason for this is that if the economy grows at 10%, but prices also rise at 10%, then there really hasn’t been any actual growth.
To deal with this, the US adjusts its GDP measures for inflation to make it appear as f they’re objective. The only problem is that the US adjusts GDP using a phony inflation number that is much lower than reality.
A great example is last quarter when we were told that the GDP grew at an annual rate of 0.1%. The reality is that if you used realistic inflationary measures, the US economy SHRANK at a rate of over -1% last quarter. Yes, negative 1%. The worst GDP print since 2009.
The same lie has been extended to the US population about our standard of living.
For decades now we’ve been told that we were getting wealthier because incomes were growing and asset prices like stocks and real estate were rising. Yet data clearly show incomes have been dropping in the face of rising inflation: a “double whammy”.
However, the reality is that inflation was the source for much of this “growth.” The US Dollar has lost nearly 20% of its value in the last decade. The end result is all of us are paying much more for EVERYTHING. But we’re being told that we’re actually richer because incomes are up
This is why understating inflation is a HUGE LIE: it is a lie to all of us that our living standards are improving when in fact they’re not.
And the media is FINALLY beginning to report on it.
Those who know the price of everything and the value of nothing are said to be cynics. Americans can be forgiven for being a bit cynical, though, when it comes to prices. Their own cost of living rarely seems to be as low as official statistics claim it is.
Friday’s consumer-price index for February is seen rising 0.2% month on month, excluding volatile food and energy costs. That would bring the year-on-year pace to 2%.
A change to the inflation-measuring process 30 years ago by the Bureau of Labor Statistics, Uncle Sam’s arbiter of prices, is starting to raise eyebrows again. Since 1983, house prices haven’t been part of the consumer-price index. Instead, the BLS calculates “owners’ equivalent rent,” a mix of actual rents and what homeowners guess their homes would fetch if rented.
http://online.wsj.com/article/SB1000142 … 55538.html
Look around you. The cost of everything is increasing dramatically. Gas prices are UP. Home prices are UP. Healthcare costs are UP. Energy prices area UP. Everything you need to survive is UP.
Forget the Fed’s CPI measure. Inflation is here now. And things are only going to be getting worse going forward. History has shown us countless times that you cannot print money without prices soaring. There is not one single instance in which currency devaluation has not done this. And the US Federal Reserve is now printing $84 billion every single month.
What effect do you think this will have on the cost of everything?
Make no mistake, now is the time to be preparing yourself and your portfolio for this. Inflation can take its time to arrive. But once it does… things move very very quickly.
http://www.theburningplatform.com/?p=51093
Statistics: Posted by yoda — Sat Mar 16, 2013 2:39 pm
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Health • New Study Shows 59% of “Tuna” Sold in the U.S. Isn’t Tuna
New Study Shows 59% of “Tuna” Sold in the U.S. Isn’t Tuna
Posted on March 1, 2013
This is just the latest revelation in the stealth inflation and food fraud theme I have written about frequently in recent months. The non-profit group Oceana took samples of 1,215 fish sold in the U.S. and genetic tests found that that 59% of those labeled tuna were mislabeled. It seems that “white tuna” should be avoided in particular as “84% of fish samples labeled “white tuna” were actually escolar, a fish that can cause prolonged, uncontrollable, oily anal leakage.” Oh and if you live in my hometown of New York City, you should pay particular attention:
Big Apple has big problem with seafood fraud: 94 percent of tuna and more than three quarters of sushi samples in New York City mislabeled.
Of the 142 fish samples collected in New York, 39 percent were mislabeled. New York City led the nation with the highest occurrence of mislabeled salmon as well as the highest amount of fraud among salmon collected from grocery stores and restaurants.
http://libertyblitzkrieg.com/2013/03/01 … isnt-tuna/
Statistics: Posted by yoda — Sun Mar 03, 2013 12:35 pm
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Gold and Silver • Rare Half Cent sold for £225,000 Belonged to Tragic Mountai
Rare Half Cent sold for £225,000 Belonged to Tragic Mountaineer
By DOMINIC GOVER: Subscribe to Dominic’s RSS feed
January 24, 2013 2:06 PM GMT
A man who died in a climbing accident unknowingly bequeathed a valuable inheritance to his family – a rare coin struck after the turbulent birth of the United States.
The humble half-cent coin, minted in 1796, lay undiscovered for 50 years inside a matchbox before it was found by the family of Mark Hillary during a clean-out.
The coin fetched £225,700 ($353,000) at auction – 72 million times its original face value.
Only 1,400 of the coins were made at the Philadelphia Mint in the US.
Daniel Fearon, a coin consultant at Salisbury auctioneer’s Woolley and Wallis, which sold the half cent, said it was in good condition.
"The condition of the coin is unchanged with a good, even brown colour and some traces of redness around the obverse letters and around the wreath on the reverse," he said.
"The coin is one of just a handful that have survived in this condition. Half cents have always been a rarity in the collectors’ market."
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Coin collecting thrived in Regency Britain during the years when the United States was forging itself as a nation.
"[Britain] is the natural place for coins of the former colony to end up," said Fearon.
"It was very exciting when it was brought to us. It is an instantly recognisable and beautiful coin. I’m so pleased to have found it."
The precious half cent was found during a house clean by the family of Hillary, who was killed in a climbing fall in 1963 at the age of 20.
Lagging behind auction stakes
Oxford University classics student Hillary had the coin as part of a collection of 70 he kept inside a set of miniature drawers made from matchboxes.
Despite making nearly a quarter of a million at auction, the half cent lags far behind in the auction stakes.
A dollar coin minted just one year before Hillary’s half cent was sold for $7.85m in 2005. The dollar was the first of that currency unit issued by the United States federal government, in 1795.
Another US coin fetched $7.59m at auction. It was made from 98 percent gold and was struck during the California gold rush.
A medieval coin depicting King Edward III of England was bought for $6.8m. It was in circulation for just eight months from December 1343.
http://www.ibtimes.co.uk/articles/42749 … states.htm
Statistics: Posted by yoda — Thu Jan 24, 2013 1:49 pm
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Agriculture • Horse Meat Found Being Sold As Beef In UK Supermarkets
Horse meat in Tesco burgers: Supermarket apologises after food watchdog’s findings
Scientific tests on some beef products found low levels of horse DNA
However one offering from Tesco’s Value range had 29% horse meat
Retailers have told food safety chiefs they are removing the products
Horse also found in Dunnes Stores, Lidl, Aldi beef products
By SEAN POULTER
PUBLISHED: 20:15 GMT, 15 January 2013 | UPDATED: 01:10 GMT, 16 January 2013
Beefburgers sold by Tesco and other supermarkets have been found to contain horse meat, it emerged last night.
Tests on products from four chains showed a third were contaminated.
Most revealed only small traces but in one Tesco offering 29 per cent of the ‘beef’ content was actually horse meat.
Discovery: The DNA tests found horse in Tesco Everyday Value Beef Burgers
Last night, Tesco issued an apology and said the suspect burgers had been withdrawn. It is likely however that thousands have been eaten, with many more still stored in home freezers.
The highest level of horse meat was found in the chain’s Everyday Value beefburgers but traces were also detected in its frozen quarter pounders.
The revelations emerged following checks by Irish food safety experts.
Horse Meat
The affected burgers were made at two sites in Ireland and one in North Yorkshire owned by Dalepak Foods.
Tesco confirmed the burgers had been on sale in the UK. Iceland said it has ‘withdrawn from sale the two own-brand quarter pounder burger lines implicated in the study’.
Other products that tested positive for horse DNA included Aldi’s Oakhurst Beef Burgers and Lidl’s Moordale Beef Burgers.
The retailers have told food safety chiefs they are removing all implicated products from their shelves
Aldi said its product was on sale only in Ireland and had been withdrawn.
The DNA tests on 27 burgers showed very low levels of horse meat in nine and a much higher level in Tesco’s value product.
Traces were also detected in batches of raw ingredients, including some imported from The Netherlands and Spain.
It is not illegal to buy or sell horse meat in the UK, but it is illegal not to declare every ingredient on food labels.
Tim Smith, Tesco’s technical director and a former head of the Food Standards Agency, said: ‘We immediately withdrew from sale all products from the supplier in question.
‘We are working with the authorities in Ireland and the UK, and with the supplier concerned, to urgently understand how this has happened and how to ensure it does not happen again.’
Tesco has stopped taking any products from the factory involved until the investigation has been completed.
Mr Smith added: ‘The safety and quality of our food is of the highest importance to Tesco. We will not tolerate any compromise in the quality of the food we sell.
‘The presence of illegal meat in our products is extremely serious. Our customers have the right to expect that food they buy is produced to the highest standards.
Tests: A Tesco spokeswoman said they were treating the incident as extremely serious after horse meat was found in its products
‘We understand that many of our customers will be concerned by this news and we apologise sincerely for any distress.’
Barry Gardiner, who sits on the Commons food, environment and rural affairs committee, called for an immediate inquiry.
The Labour MP said it looked as if there had been ‘fraud, misrepresentation and incompetence’ at the highest levels.
‘Big companies like Iceland and Tesco are responsible for their supply chain and for verifying whether their suppliers are giving them what they should be delivered,’ he added. ‘It is abhorrent that the suppliers appear to have adulterated the burgers in this way, but these big companies’ buyers are responsible to the public.
Aldi said it was conducting its own investigation
‘You expect what is on the label is what you get, and a beef burger is not a horse burger. Most people would be horrified to find they have been eating horse.’
The Food Safety Authority of Ireland, which carried out the tests, is working with the Irish Department of Agriculture, Food and the Marine, and the processing plants and retailers involved.
Professor Alan Reilly, chief executive of the FSAI, said there was no good explanation for the inclusion of horse meat in the burgers. He said the use of pig meat would also be upsetting for religious groups such as Muslims and Jews.
‘The products we have identified as containing horse DNA and/or pig DNA do not pose any food safety risk and consumers should not be worried,’ he added. ‘Consumers who have purchased any of the implicated products can return them.
‘Whilst there is a plausible explanation for the presence of pig DNA in these products due to the fact that meat from different animals is processed in the same meat plants, there is no clear explanation at this time for the presence of horse DNA in products emanating from meat plants that do not use horse meat in their production process.
‘We are working with the meat processing plants the Department of Agriculture, Fisheries and the Marine to find out how horse DNA could have found its way into these products.
‘Likewise, for some religious groups or people who abstain from eating pig meat, the presence of traces of pig DNA is unacceptable.’
Lidl said it had taken the decision to remove all implicated products from sale pending a full investigation. ‘A refund will be provided to customers who wish to return affected products,’ said a spokesman.
No one from Dalepak could comment.
Marks & Spencer ‘Simply M&S beefburgers’ were the only brand found by the FSAI to contain neither pork nor horse and were 100 per cent beef.
Read more: http://www.dailymail.co.uk/news/article … z2I6mo5cfC
Statistics: Posted by yoda — Tue Jan 15, 2013 10:15 pm
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War and Conflict • Re: How Syria’s rebel fighters were sold exploding rifles –
Syrian Opposition Speaks
Failure of U.S. to provide direct aid demoralizing anti-Assad forces, opposition leader says
BY: Adam Kredo
October 27, 2012 5:00 am
President Barack Obama’s administration has continued to turn its back on Syrian opposition fighters, refusing to provide not only critical weaponry but also direct humanitarian aid to those fighting a bloody battle against embattled Syrian President Bashar al-Assad, according to an opposition leader who just returned from the battle’s front lines.
The dearth of direct support has enabled Assad to continue slaughtering citizens and opposition forces, prolonging a civil war that has claimed thousands of lives since it broke out over a year ago.
“I saw no support for the armed rebels by the U.S.,” Mouaz Moustafa, political director of the Syrian Emergency Task Force (SETF) and United for a Free Syria (UFS), said Friday afternoon during a conference call with reporters.
A lack of sophisticated weaponry has allowed armed terrorist groups, such as Iran-funded Hezbollah, to infiltrate Syria and stir chaos that could spill across the region, said Moustafa, who recently spent time in Syrian cities that have been decimated by Assad’s forces.
“There needs to be more serious arming of the [opposition] efforts,” he concluded. “That would greatly help depose the regime.”
A level of “military intervention to end the blood being spilled” would help rebel forces speed up Assad’s ouster, said Moustafa, who also serves as a board member for the Coalition for a Democratic Syria (CDS). “That’s something we’ve been very slow to move on.”
“The risks of not doing anything, not bombing … are far outweighed by the risks of letting these [attack on civilians] go on,” he added.
The United States also has failed to take a lead on the humanitarian front, Moustafa explained.
Currently, the U.S. sends aid to Syria via several United Nations bodies and other “middle men,” he said.
“It doesn’t have the stamp of the U.S.,” he said. “There’s middle men.”
It would send a “huge” message to the Syrian people if the U.S. were to take a more direct approach, Moustafa explained.
“We’re hoping to see it as more direct so Uncle Sam gets the credit,” he said. “It’s much needed.”
There are huge risks associated with the Obama administration’s continued passivity on the Syrian front, Moustafa said, including the rampant destruction and violence that continues to devastate towns along the Syria-Turkey border.
That violence could spread further into Turkey, potentially leading Saudi Arabia or even Jordan to get involved in what could become a regional conflict.
Additionally, if Assad falls, a power vacuum could allow militants and Islamic extremists to gain a foothold in the nation, as they have done in other Middle Eastern countries that have experienced tumult.
If the U.S. and other Western nations fail to prepare and organize local governments for the toppling of the Assad government, the situation in Syria could become “ten times more complicated and worse for the U.S.,” Moustafa said.
“We really have to take advantage because if we don’t … then we’ll end up with problems.”
There is growing evidence that Hezbollah and other extremist groups have been waging deadly cross border raids aimed at murdering Assad’s enemies.
Free Syrian Army fighters have recounted tales of being targeted by Hezbollah, according to reports.
Hezbollah has provided arms to pro-Assad forces, which routinely engage in the mass slaughter of innocent Syrian civilians.
Saudi Arabia has also reportedly armed opposition fighters in an effort to counter Iran and Hezbollah in Syria.
“Sectarian divisions driven by the war are sowing political instability outside of Syria, alongside the unstable security situation introduced by the fighting itself,” The Israel Project, a D.C.-based organization, wrote in a recent analysis of the conflict.
Moustafa reported seeing evidence of “spill over” from the conflict during his time in Syria.
“We see it already happening in certain places” such as Lebanon, he said.
Armed fighters have entered the conflict from Iraq, Moustafa said.
“There’s potential to have chaos in the entire region,” which is exactly what Assad is “banking on.”
To protect its borders, Turkey has established a de facto green line replete with artillery and soldiers. Government leaders have hoped to formalize this line, but it has yet to get explicit support from the Obama administration.
“The Turks are very much exposed,” Moustafa said. “There are no talks of formalizing this buffer zone ,though the Turks would like to see it.”
However, “it can only happen if the U.S. is at the table,” he added.
Violence has become so rooted in Syria that even a cease-fire during the Islamic religious holidays was short lived, according to reports.
Moustafa speculated that Assad has no reason to observe a temporary cease-fire and even less motivation to enact a long-term plan.
“I don’t think it could hold,” he said. If Assad ends the violence, “he will fall.”
Moustafa outlined the horrors the war has brought to areas of Syria such as Khirbet al-Joz, a Syrian border town that was razed by pro-Assad forces.
“The conditions of everyone in the village were horrendous,” Moustafa said, recalling “the smell of burning.”
Moutafa interviewed several pro-Assad prisoners of war who were being held captive by opposition forces in several warehouse-like structures in the town.
Some of them explained the reasons they were aiding the regime.
“Many of them are young men,” Moustafa recalled, “and they are stuck in this game being played by Assad.”
http://freebeacon.com/syrian-opposition-speaks/
Statistics: Posted by yoda — Sat Oct 27, 2012 11:59 am
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International News • London Olympic Tickets Sent To Foreign VIP Being Sold
Ticket touts disgrace: Row upon row of empty seats… as tickets sent to foreign VIPs go on the black market
Large areas of empty seats seen in stadia for the second day running
London 2012 chairman Lord Coe reveals students and teachers are also being called in at the last minute
Every tout arrested had tickets sent to foreign VIPS
Organisers Locog have begun an investigation into the ticketing fiasco
By ROB PREECE, DAVID WILLIAMS, CHRIS GREENWOOD and KATHERINE FAULKNER
PUBLISHED: 13:37 GMT, 29 July 2012
Prized Olympic tickets entrusted to foreign delegations are being openly sold by touts on the streets of Britain, it emerged last night.
They are cashing in on the huge demand for seats by selling tickets sent overseas by Games organisers.
The revelation came as a row raged over embarrassing scenes of banks of empty seating at many Games venues – including last night’s swimming finals.
Read more: http://www.dailymail.co.uk/news/article … z228J6n5Lc
Statistics: Posted by yoda — Mon Jul 30, 2012 12:46 pm
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Gold and Silver • London Trader – Staggering 515 Tons of Gold Sold in 4 Hours
London Trader – Staggering 515 Tons of Gold Sold in 4 Hours
http://kingworldnews.com/kingworldnews/ … Hours.html
With many global investors still rattled by the recent price action in gold and silver, today King World News interviewed the “London Trader” to get his take on these markets. The source told KWN that not only was a shocking amount of paper gold sold in just 4 hours yesterday, but it was also confirmed that the mainstream media is not reporting the staggering amount of physical gold that has actually been purchased by China recently. Here is what the source had to say: “China has purchased hundreds of tons of gold in the last couple of months. China is not disclosing what their true reserves are. Russia is delaying disclosure and so is Iran. We saw record gold imports of over 100 tons through Hong Kong to China in April, as reported by the mainstream media, but what has been reported is just the tip of the iceberg.”
“What we’ve seen is a dramatic acceleration of physical gold purchases as the price has been drawn down. Staggering amounts of physical gold are being purchased. The acceleration of physical purchases, at these lower levels, is the reason why gold has been holding firm and building such a nice base.
I want to be very clear about this, in addition to what is being reported by the mainstream media, we have seen hundreds of tons of additional physical gold being purchased by China over the last three months….
“What happened yesterday in the gold market was very interesting. One full hour before Bernanke’s testimony, the bullion banks started selling. Over the next 4 hours, the bullion banks sold the equivalent of 515 metric tons of paper gold. This was in just 4 hours, and again, the selling started one hour before Bernanke’s testimony.
The selling went on for another 3 hours after the Fed Chairman began to speak, and as I said, over 515 metric tons of paper gold was sold. During this entire takedown, there was zero physical gold available for sale in the market. However, this action did create tremendous supply for the Eastern buyers to lock in the spot price of gold. This will patiently be converted to physical in the coming weeks.
The real question here is, how could an entity begin selling such a massive amount of paper gold when there hadn’t been any news (starting to sell before Bernanke’s testimony)?
During this coordinated attack on gold, hedge funds and managed money were being forced out of their paper positions. A large wave of selling entered the paper gold market and traders saw the price of gold drop $40 in a matter of minutes. So the action was orchestrated by the Fed, and Fed-speak was used to assist in the takedown.
On the opposite side, the rise we saw last Friday was not a natural rise, it was a squeeze of the hedge fund shorts. After squeezing the hedge fund shorts on Friday and actually getting them to take on some long side exposure because gold took out key resistance levels, they then dropped the gold market like a stone yesterday. So the commercials are ringing the register at both ends of the tape. But in reality, what the bullion banks are trying to do is to get out of some of the massive naked short positions that are on the books.
During all of the chaos of the last couple of months, the Eastern hemisphere have been vacuuming physical metal out of the market. However, supply is very tight out there. As I mentioned earlier, no physical gold was for sale yesterday during the takedown, just paper gold. Gold actually went into backwardation, and silver has actually been in backwardation for weeks. For immediate delivery of gold, in size, we are seeing delays, but silver is extraordinarily backlogged.
Also, there was an absolutely staggering amount of silver that was purchased by an Eastern buyer three weeks ago near the $27 level. This order was breathtaking in terms of the size. It is currently queued up at two refiners, but has been backlogged for the last three weeks and running. In other words, we are looking at serious backlogs for physical silver.
So as I said earlier, the bullion banks are ringing the register at both ends, while trying to extricate themselves from their short positions in the paper market. They are attempting to do this before transparency comes in to the market. They do not want a situation where the aggressive hedge funds actually get evidence that these bullion banks are naked short.
They are concerned that if it is discovered they are naked short gold and silver, those hedge funds will aggressively target those banks. This is what happened to JP Morgan, recently, when the London Whale got caught. As soon as Jamie Dimon was forced to admit a $2 billion loss, the sharks realized they were vulnerable and came in to attack. That has greatly magnified the size JP Morgan’s loss. The last thing powerful entities want to see is for this to occur in the gold and silver markets.”
Statistics: Posted by DIGGER DAN — Sat Jun 09, 2012 12:28 am
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