JP MorganIn gold, the latest COT report indicates that swap dealers are reaffirming their intent that gold will crash and they will reap an ABSOLUTELY HUGE windfall from paper delights (soon to be currency of the past). 
The commercials both increased their total net short ounces and those swap dealers are now OVER 8,000,000 gold short ounces! 
They see the kill in the not too distant future, they taste the blood that is not yet extracted from their victims.  They are a bloodthirsty lot, indeed.

Gold & Silver COT Report, by Marshall Swing:

Greetings from outside my home in the Wilderness of Southern Illinois!


It seems the travel bug will not stay away from me as this time I am in the Land of Mindanao in the Southern Philippines to effect a very special mission close to my heart.  More on that next week!


I did manage to remember to bring my data stick this time so neat tables with lots of numbers nad percentages are present and accounted for in this report away from home…


But what of gold and silver?


It appears a hit job was done by the silver producer merchant this past reporting period.  It is a sly maneuver but they must position themselves carefully in order to control price from falling too far too fast as it is not their time yet.


The Silver Shield Silver Bull Only $2.49 Over Spot ANY QTY at SDBullion!


How do I know that is the case?  Just look at those BIG RED NUMBERS of the silver commercials and follow it down to the disaggregated COT numbers and we see very interesting development where close to equal numbers of longs AND SHORTS were discarded.  This is what I call POSITIONING.


When the puppet master controls the strings I spoke of last week they are controlled usually from above and below spot price.  Remember, these paper puppets of silver and gold ARE always defined by a long and a short position for each and every contract of, in this case, 5,000 ounces of silver.


Therefore, to gain strength to control price, it is necessary to trim long and short contract positions that are not conducive to maintaining TIGHT control of where they desire price to be.


Notice the pickup of over 2,300 shorts by the large spec!  They like the profit they might have made into the price decline and see far more opportunity to stuff themselves in an act of gluttony with fiat currency that will one day soon not even be good for bathroom purposes.  Temporarily, for now, the more fiat you have the more purchasing power you have to get the good stuff, the physical metal…  But this will not last long!!


Notice ever so clearly, in a week of much adjustment, the silver swap dealers were completely silent while their trusted buddies the bullion banks did their bidding that will lead up to the monetary version of the Valentine’s Day Massacre! 


In gold we see differing movements.  Silver saw a significant decrease in total open interest and gold sees an increase.  Divergent paths but I assure you they are tightly coordinated.


Notice it is the commercials who pick up most of the new open interest as the specs are not quite sure what to do with price movement upwards that they thought would go down as they were covering a few shorts.


BUT, notice which commercial gained a huge sum of new short positions!!  Those swap dealers are reaffirming their intent that gold will crash and they will reap an ABSOLUTELY HUGE windfall from paper delights (soon to be currency of the past).


Those commercials both increased their total net short ounces and those swap dealers are now OVER 8,000,000 gold short ounces!  They see the kill in the not too distant future, they taste the blood that is not yet extracted from their victims.  They are a bloodthirsty lot, indeed.


Tomorrow, I and mine to be travel to a beautiful mountain resort in the hills of Apo, called Woodlands, where the highest peak in the Philippines is within spittin’ distance.  There in the mountains seems to be a special place to be close to God, remember that guy Moses who journeyed up the mountain to get the 10 commandments from God?  I had better watch my P’s and Q’s!!


I have loved the mountains for a long long time ever since I can remember as a boy camping in the Appalachian mountains of North Carolina with my parents.  They are amazing to me…


Check out the pictures on the link!


Until next week, my friends, and I urge you to add to your physical stacks while price is low before it is too late to buy…


From the Land of Mindanao,




PS May God bless all those who appreciate His true currency and do His will.
COT Gold 4-29-2014

COT Silver 4-29-2014

    • I do not specifically follow Ted Butler…
      If he makes that prediction repeatedly, just ignore it. 
      But even if it still trades sideways for a while, or even down, it’s a good time to stack.
      If you have “extra cash” that is… but I would not use the house/car payment!!!  😀

    • More “sell your silver quick”, from this tedious shill.

      I guess when you are just an anti-metal mouthpiece, it doesn’t matter that you are always wrong, for months at a time.
      Someone needs to lift the needle on this broken record.

    • @Strannick 
      Let’s make it very clear…
      I recommend buying physical silver and never selling until years into the future unless you intimately understand the COT numbers and can make trades to increase your stash of physical, which I know you Strannick are incapable of this but with diligent reading of my reports you might get insight into how to do this…  😉

    • Let’s make it very clear, it is not just the bankers behind this but also the miners who are invested/hedged under the swap dealer category.  They depend on the bullion banks to do their bidding as far as price direction to keep them afloat…  It is sort of like being in bed with the Harlot of Revelation 17 and 18…
      Their time is shortly coming to an end 🙂

  1. Sorry guys but im bit of confused… 
    those swap dealers are now OVER 8,000,000 gold short ounces! 
    Does it mean  PM price will decline or increase? Just want to know in which game banksters are playing right now )

    • Should decrease, if the HFT algos are set to protect this position. 
      It depends on WHO HOLDS the “shorts”. But in that quantity,
      it is likely the ones working on behalf of the VAMPIRE SQUID

    • ummmm 
      The 7-1-14 event will propel PMs upward in ANYONE’S Estimation. It will be too late then! 
      (if it is implemented as described)

    • The commercial part of this report deals with… wait for it… commercials.  Those are entities who hedge what they buy and sell.  A massive short position means they have a long in the physical.  When they go sell the physical they will buy the futures.
      I pay more attention to what the producer and end users are doing.  If the producer is hedging (selling) that is an indicator he likes prices.

    • @Underground
      This is a game of domination, complete domination of the people.
      The banks and the miners have colluded, it is clear.  As they continue to mine metals they can easily cover losses with covering a short here and there or hold until the bottom and reap the full profit, if possible.  Most of the shorts they hold are at much higher prices so they are very far into the money with them 😉

  2. Well Gene Arensberg doesn’t seem to agree with you. As Gene said the other week in an article, that fact that the Producer/Merchant class have been covering shorts like crazy recently suggests that we are at or near a bottom in gold. I seriously doubt that the price will be going much lower from here as the miners need a bare minimum price of $1200.00 to break even.
    You also have the GOFO rate that has been negative for around 2-3 weeks suggesting tightness yet again in the physical market in London. You can’t keep slamming the gold and silver price down forever and not have an effect on supply.
    China/Russia has the US/UK cornered. The desperation is self-evident. You only have to look at what is happening in the Ukraine to see that.

    • @59LesPaul
      “You also have the GOFO rate that has been negative for around 2-3 weeks suggesting tightness yet again in the physical market in London.”
      It seems highly significant that the GOFO rate has been negative for a couple of weeks, when its prior history shows that a couple of days has been the usual pattern.  The fact that this is being stretched out like this portends some kind of sea change in gold prices.  My guess is that we will see a brief dip and then some higher prices but I have no data to support that.
      “You only have to look at what is happening in the Ukraine to see that.”
      Agreed.  Ukraine is where East meets West.  It is symbolic of the conflict between these spheres of power and it is being manifest in physical form, which is to say as “war”.  Many of us see the economic battles being waged out there, the currency wars, trade wars, etc. but when these go on for too long without resolution, real war soon follows.  Neither the US nor the UK is in any position to oppose Russia militarily.  Yes, they can instigate, they can supply weapons, food, ammo, medical supplies, and other things but these will not stop Russia if it decides to take eastern Ukraine and fold it into Crimea or directly into the Russian Federation.  The current Western tactic of forcing economic sanctions on Russia will surely backfire and cause the US / UK more problems than it will solve.  And who knows what the EU folks will do.  They are very dependent upon Russia for fuel and their economy will crash big-time without it.  I don’t think that they will allow this to happen, so are currently walking a thin line between supporting the US while also reassuring Russia that this is just political theater.  I believe that this is why Russia has not simply shut the gas valves to make a point who who’s really in charge in all this.  The BIG reply from Russia to the West will come when their long-term energy deal with China is finally signed and made fully public.  While this has been hinted at a number of times, it looks like it might finally happen sometime in late May or June.

    • @59LesPaul
      That is EXACTLY why i am correct on price movements almost all of the time my friend and Gene is only right on major moves adn has not advised anyone to short paper to build their physical stash.
      Gene has written much in the past that he believes what is seen in metals in nothing more than hedging and he scoffs at the idea of manipulation.
      I have talked with him.  one day he will get it.
      gold and silver were created by God and they are manipulated in order to maintain control over men and makes slaves of them rather than give the people a chance at honest money weights and measures 😉

  3. Gold in Weeks, 9 Year Chart – (Reuters)
    Plaintiffs Consolidate Gold Fixing Lawsuits in New York
    It appears that critical mass is finally being reached amongst the lawsuits that are being taken against the Gold Fixing bullion banks.
    Yesterday, in Federal District Court in New York, more than 20 plaintiffs met up to coordinate their lawsuits against the five investment bank members of the Gold Fixing.
    The various lawsuits, which are being pursued by public investors, hedge funds and private investors, stipulate that the five investment banks (Barclays, SocGen, ScotiaBank, Deutsche Bank and HSBC) have the ability to manipulate the gold price because the Fixing is unregulated and the fact that the banks can and do trade gold and gold derivatives during the twice daily Fixing calls.
    The first lawsuit was filed in March by Kevin Maher, a former New York gold trader. However, over subsequent weeks, multiple lawsuits were filed, leading to a decision to try to consolidate the suits and appoint a lead lawyer.
    According to The New York Times, the courtroom in Manhattan was so full of lawyers yesterday that it took nearly 15 minutes for the army of lawyers to introduce themselves. The presiding judge, Valerie Caproni, attempted to bring some discipline to the situation and said “I want to do this in an organized way to figure out who’s who,”, however, the sheer number of lawyers appeared too much for the judge as she added, “Not, that I’ll remember.”
    It will therefore be interesting to see how these lawsuits progress now that the lawyers appear to have joined forces.

  4. THey’ll keep doing what they always do until they lose control. Any number of experts have stated this has gone on far longer than they thought it could have so at this point all you can do it curse them and wait.
    I finally got my order from a couple weeks ago ( was waiting for a new release ) and at this point I almost hate silver but know it is a smart move to buy as much as I can. At this point I dearly hope the people behind this end up hanging from trees, sincerely. After being beaten.

    • Yeah I’m just fukkin sick and tired. I’m pleased I have a large position now and am focusing on making sure I have some preparation supplies. I’m trying to just unplug as much as I can because I’ve essentially had it with about everything LOL.

    • Those shorts being touted are not ‘arrows in the quiver’, they are the results of the shorting done previously.
      They are future promises to deliver silver at whatever price in whatever month.
      They are accumulated obligations from previous raids.
      IF the price can be driven lower than those were sold for, they are in the money.
      If it rises, they have to cover them.  They (theoretically) have to acquire those ounces at their own expense and deliver them to the ‘longs’ that took the other side of that bet.  They apparently get reimbursed through the ESF for any losses incurred doing this.
      They are not future ammo to use against the longs.
      They are an indication that the short sellers expect lower prices in the future.

  5. @Marshall Swing
    Thanks for this analysis. It has proven to be generally correct, (as much as I have followed it) for the recent market movements. Please ignore the “trolls” and disgruntled silver investors who went “all in” at $40 and are hating on anything the Doc publishes. Enjoy hunting for “Yamashita’s Gold” and the rest of your trip!!! 😀

    • @jane smith
      I actually have an answer for that! 
      It seems to me it is for a gargantuan effort to prop up the U$DX… We are practically ready to fall UNDER 79, and they ave been defending 80 fiercely for a few years. Seems as though 79 is the new “line in the sand” they have drawn. The shorts are to kill PM sentiment which makes the U$DX stronger by keeping the non-BRICS in CA$H, which is the U$D mainly. They may need help from the ECB to defend this 79 level, and get back above 80. We were nearly below 70 earlier, Obama’s first term, and they killed the PMs for months to get them under control and get the index back over 80. 
      This is my new pet theory 😉 

    • @Underground
      I view those who are negative as thiose who will become believers 😉
      I do not concern myself at all 🙂
      If they review my posts for the last 2 years they will realize i am the only one in the industry who saw this price crash coming 😉
      So, trolls, assimilate and become followers or eat the dust left behind 😀

  6. Didn’t I read somewhere that the lows last year on I believe 26th June 2013 and 29th December 2013 magically almost exactly 6 months apart coincided, again almost exactly, with the slime ball bankers calculation dates for the assessment of their 6 monthly bonuses?. I can hardly say the word and I apologise for mentioning it. If that repeats then maybe the end of June and beginning of July might be a time to expect the next ambush and be a time to keep any available funds for buying on the cheap. I appreciate your efforts Mr Marshall Swing but a bloodbath is not a very specific way of suggesting how far prices could drop. Are you anticipating merely revisting the 2 previous lows or are you anticipating a genuine assault on Goldman Sachs vaunted $1050 an ounce in gold. Just wondering. Obviously they can shove it up their backsides either way but at $1050 an ounce I can buy so much more………………and keep stacking as someone once said.

    • Perhaps the issue here is not whether or not 8M ozs. is a large fraction of the gold in the world but that it is a large fraction of the gold which is available for purchase?  It certainly seems sufficient to warp the gold market and affect gold prices.

  7. I guess at some point these gurus will be correct in their predictions. While I personally think that silver has bottomed and will remain relatively flat I certainly do not rule out lower prices in the short to intermediate term. A ‘summer slam’ in the metals coinciding with a ‘blowoff top’ in stocks is a reasonable expectation. 

  8. $1215 gold. Can not go lower. And if it does, then back up the truck, it won’t last long at that price, before it moves back into the $1215-$1285 boundary.
    The shorts can play roulette if they want, but the price is what it is. Remember folks, gold is a COMMODITY first and foremost. This means that in the long it will follow the basic law of supply and demand. 

    • WFS,
      Gold is not a commodity . A commodity  will react to an increase in demand by an increase in supply . And that is pretty much not possible with gold or any of the PM’s , that is why they ( gold and silver ) are called “precious” or better , they are MONEY . they were forced to be traded as commodities by the bankers just to confuse people . obviously they have succeded .

    • You can live without money, money is an artificial man made construct. A commodity is so much more. There is nothing dirty about the word commodity.
      Silver and gold do react to demand, thats exactly my point. They react more violently to supply. The bottom sales price is $12.15. Thats the point. You literally can not get it out the ground any cheaper without going bust. 
      So let the gamblers gamble with their betting slips. I’m cool with my physical commodity. Let them break the casino, makes no difference in the real world.

  9. Marshall; I am in the Land of Mindanao in the Southern Philippines to effect a very special mission close to my heart. Hum. Like find the caves the Golden Lily gold was stored? Cool. 90,000 Tons or so. Yeah. I’d like to see them too. Take lots of pics. I’d love to see em. O where or where has the golden Lily gold gone. O where o where can it b.  

  10. Short/long who cares it doesn’t affect my PHYSICAL holdings one way or another. I could care less what the fake fiat value is, fiat that is worth 3% of what it was 100 years ago, fiat that is as manipulated as the paper gold/silver markets

  11. One thought I haven’t seen mess mentioned, is the fact that in order to bring the medals down big-time you need to bring all the markets down at once. This seems to me the most likely scenario in order to get PMs down have a big 20% correction.

    • @ Silver Alert
      Excellent question!
      I advise now because one has to weigh if there will be anything at all available at the bottom.
      The rebound to the stratosphere will happen almost immediately and silver supply will dwindle as the masses rush into paper and those in the know swallow up all available metals on the market.
      Prices will skyrocket past the moon 🙂

    • “Prices will skyrocket past the moon “
      Beware of things that shoot up like rockets because they tend to come down the same way!  And there is usually a big BOOM and a ball of fire at the end of that ride.  😉

    • My personal take is there will be a period of time where the signs to sell at very high prices will be obvious.
      HOWEVER, it is my personal view of history  HIS-story that all this current age is coming to an end very quickly as we move into Daniel’s 70th week very shortly and the first half of the week is where the rewards from gold and silver can be used most effectively then desperation sets in in the final 1260 days of great tribulation…  😉

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