silver mine

Silver OI rose sharply by 892  contracts from 172,725 up to 173,617  as silver was down 26 cents yesterday.
It seems that judging from silver’s OI, our banker friends are still very nervous as they try to cover their massive shortfall in silver.
In ounces, this represents a total of 868 million oz or 124.0% of annual global supply!
Let’s head immediately to see the major data points for today:

Here is the net result of central banks pursuing quantitative easing and zero-interest rates: a massive increase in global risks resulting from the carry trades the money expansion and cheap rates fueled.
The central banks’ “solution” has blown another global bubble of risk that now threatens to destabilize not just the carry trades but the economies and credit systems that have become intertwined with the carry trade.

In effect, the failure to address the structural problems revealed in the Global Financial Meltdown of 2008-2009 have been transferred to the larger foreign-exchange (FX) market, which is connected to virtually everything in the global economy.

my-shorts-on-fire

SERIOUSLY, are you watching this manipulation set up?
I have written numerous times over the years that they do exactly that sort of operation taking both sides of the bet because you are about to see what appears to be some market volatility but is in fact planned, calculated, pre-fabricated volatility that will shake up the speculators from both ends of the price war and leave them dazed and disoriented and trying to regroup.
After the COT week, we saw some incontrovertible evidence of this on Friday as price jumped up like a ROCKET.
I will step out on the plank now and tell you some speculators got scared out of their shorts on Friday. 
Happens every time.  

storm

The Bank of Japan plans to buy ¥8 to ¥12 trillion per month.  The government is selling ¥10 trillion per month in new bonds.
This is an astonishing development.
The Bank of Japan will buy 100 percent of the new government bond issuance.
When the central bank is buying all of the bonds issued by the government, this is a major sign of imminent collapse.
Collapse happens when it hits zero, if not earlier. 

HarveyOrgan1

Gold and silver did not have  a great day price wise.
I reminded everyone on Friday that:
The bankers will regroup and will try and forcefully send gold and silver back down on Monday.  Of course the problem that the bankers have is this:  every time they orchestrate a huge raid, some strong entities (a sovereign??) are in there gobbling up much of the naked offering of our bankers. The bankers risk that many of the longs purchased will end up on the delivery table.” 

And sure enough, the bankers started their raids once the COMEX session got under way.

pharoah-future-gold

In the Pharaohs’ day, gold was money.
Today, it might be even more important than ever.

As advanced as our modern civilization may be, we’ve been playing with fire for more than a century.    Every single experiment with unbacked paper money throughout history failed.
And though today’s economists like to think that ‘this time is different,’ our own experiment with paper money will share the same fate.

jim willie

The “switching of sides” in the currency war is going red hot, and it’s no longer simply happening on the outer reaches of the Western alliance, but within core countries which the 3rd Wheel Dollar always thought it could count on: like Canada, like Germany, like the U.K.   Country after country is beginning to understand that this is a key moment in history…
And they don’t want to be left standing on the wrong side!
The World’s unwanted, bullying 3rd Wheel Dollar is being permanently relegated to the “friend zone” or worse, and so is the the U.S.’s leadership by extension!
The U.S. petrodollar, once tolerated, due to its violence and power, is now a sagging, bloated, bankrupt shadow of its former self, and the rest of the neighborhood is now teaming up to take on this bully.

Rigged-US-gold-market

The contemporary, fiat currency system, which central and international banks constructed, is a model that’s built upon the bedrock of systemic fraud in multiple markets. The only way the system can continue is by constant expansion of currency and debt.  The system has become so full of rot, that it can’t survive without fraud and constant rigging, especially of its perennial competitors: silver and gold.
The untold wealth and power these banks have amassed, comes from being able to steer world markets, whether currencies, or OTC derivatives, or bonds, or commodities, or real estate, and none of that steering is possible without the fiat, debt-based currency system it rests upon.

The monetary system itself is where “the money is”, and that is why the Powers that Be are willing to spend several trillion dollars a year suppressing silver alone!  Even at a price tag that high, it is still well worth continuing.

bazaar

Described as the “next generation of uncensored trade” and a “safe untouchable marketplace,” OpenBazaar is fundamentally different from all the online black markets that have come before it, because it is completely decentralized.
If authorities acted against OpenBazaar users, they could arrest individuals, but the network would survive.

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Simply put, QE can never be halted or even slowed.  The USFed is in a corner, with no policy options, FACING COLLAPSE, with no ability whatsoever to halt the systemic failure in progress.
The USDollar is fast losing its integrity, during a dangerous global rejection episode.   
Therefore, QE must be exported, the easy candidate Japan. Call it Operation Tokyo Twist.
The King Dollar is in the final death throes, and the entire world knows it.
When the new Scheiss Dollar arrives, the wake up call comes. Its painful devaluations will bring price inflation, supply shortage, social disorder, and shock to the gutted nation.
The Tokyo Twist will be the song on the FOREX dance floor where all the gals (fiat currencies) are ugly, in a desperate contest to be the least ugly.
The new BRICS gold & silver backed currency is at an advance stage in the design rooms, soon to see actual implementation.
The Gold Standard is to be re-installed, euphemistically called the Currency Reset. 
History is on the verge of being made.
 

apocalypse

This latest capitulation by gold-stock investors has left this hated sector at truly apocalyptic lows.  Bearish consensus is so extreme that pretty much everyone believes the gold miners are doomed to spiral lower forever.  But today’s horrendous gold-stock price levels aren’t righteous, they’re a temporary emotional fiction conjured by epic fear.  Trading at fundamentally-absurd levels, gold stocks are due to mean revert far higher.

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Play

Matterhorn Asset Management’s Egon von Greyerz out of Switzerland joins the show for a special episode this week covering the historic Swiss Referendum, discussing:

  • Is the latest PM take-down ALL about the Swiss Referendum and portraying gold in as negative a light as possible to the Swiss people ahead of this month’s Swiss Referendum?
  • Egon explains why we are witnessing the FINAL EXHAUSTION in Gold & Silver Manipulation!
  • Paypal shuts down account for Swiss Gold Referendum, confiscates funds in Gestapo like move!
  • Trouble brewing in Euroland?  Egon predicts there is No chance the Swiss Franc/ Euro peg will hold with a yes vote!

Don’t miss this Special Edition Metals & Markets with The Doc, Eric Dubin, & Egon von Greyerz with full coverage of the Swiss Referendum: