ComexGOLDThe big “buzz” over the weekend in the precious metals community was about the enormous short position in paper gold and silver taken by the bullion banks per the weekly COT report, published by the CFTC.   The short position taken on by the big banks blew out by 54,832 contracts, which is the biggest one-week increase in history.  This translates into 159 tonnes of paper gold.
In silver, I’ve never seen a higher Cartel gross short number. EVER.
Not in 2010. Not in 2011. Not in 2013. Last Tuesday. At $17.05. For the week, The Criminals added 18,595 new naked shorts. That’s about 93,000,000 ounces or 2900 mts!
Below is a graph (Comex June gold contract) of this morning’s attack on the price of gold and silver, which occurred shortly after 2 a.m. EST, when Asian physical markets begin to retire for evening and the London fraudulent paper market opens:

silver smashToday is options expiration at the COMEX and too many longs could have cashed in if gold was left over $1,200 and silver over $17.
The ferocity of the early a.m. take-down before the London open is a classic cartel maneuver.

2012 Amercian Silver Eagle Jason Burack and Eric Dubin are launching a new podcast with Market commentary shows 1-2 times per week!
Help name the podcast and you could win 1 Silver Eagle for helping us out!

This podcast will cover interesting news and market topics that we view as important that the mainstream media is either not covering at all, not covering accurately, or is misleading the public about.
This week’s episode Jason and Eric discuss:

  1. Precious Metals Market Update
  2. China QE/ China’s RMB being added into the SDR/ China updating its official gold reserves
  3. Greece Leaving the Euro
  4. Analysis of the Oil Market
  5. All the news items involving hacking and cyber security

barbaric relic‘Barbarous Times’ Ahead
Some call gold a ‘barbarous relic,’ after famed economist John Maynard Keynes used this term to describe the gold standard in the first half of the 20th century.
They’re right. Gold is a barbarous relic, but these are also ‘barbarous times’

Last week it was reported that some of the largest banks in the world were slammed with yet another stiff fine by the United States government.
This time it amounted to roughly $5.7 billion, after the likes of JPMorgan, Barclays, Citigroup and RBS admitted to criminal wrongdoing in years of manipulating currency markets.
How much of that $5.7 billion did you get?

thomsonToday is gold options expiry day on the COMEX. As expiry day approaches, gold has a tendency to trade sideways to lower.
The most successful investor now is the one who dials down their obsession with predicting the next price move, and simply pours themselves a glass of fine bull era infrastructure construction wine

economic dollar collapse

While we remember those who paid the ultimate price to secure our Freedom today on Memorial Day,
Deagel has posted an update to its forecast for a coming economic collapse of the United States and the resulting  78% “depopulation” of the US that will occur. 

The collapse of the Western financial system will wipe out the standard of living of its population while ending ponzi schemes such as the stock exchange and the pension funds. The population will be hit so badly by a full array of bubbles and ponzi schemes that the migration engine will start to work in reverse accelerating itself due to ripple effects thus leading to the demise of the States.
The death toll will be horrible.
The American downfall is set to be far worse than the Soviet Union’s one.
A confluence of crisis with a devastating result…

chart fiveFor a number of years the market presence of commercial traders has dictated the direction in the price of gold and silverWith deep pockets and by trading contracts in the futures market without having to back up their contracts with metal, commercial traders acting in concert, can raise the price after a pullback, and cap a rally when their computer trading programs signal that price is ripe for a quick drop.
While no group of traders can change a long-term trend, they can control the short-term trend.  We saw a clear example of this in June 2013, when out of nowhere and starting early in the morning, (before US markets opened), someone or a group of people, dumped 12,000 gold contracts (totalling about 1.5 billion dollars of gold), on a thinly traded market in the space of hours. At the same time a large number of silver contracts were dumped as well.  It was obvious that no one owned this much physical metal – it was simply a case of sellers of contracts smothering physical demand with ‘paper gold and silver’.  No trading system can predict the type of market action we witnessed in June 2013.    Nevertheless, by studying the COT reports, we can synchronize our trading with the commercial traders, and reduce our risk of being blindsided.