house-of-cardsThis is a MEGA Precious Metals Update from SGT Report. The news is coming at us so fast and furiously (pun intended) that it’s hard to keep up, even for us. But here’s a half hour update dedicated to the very latest cartel precious metals manipulation news as we watch the end game unfold before our eyes: The COMEX default and economic collapse nears as 99% of ALL gold sales in the last 3 months was thanks to primary broker and agent of the FEDERAL RESERVE, JP Morgan. You can’t make this stuff up – it can ONLY happen when and if the collapse is at hand.

 

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May 1st

  1. Isn’t the NY Fed, their only location that seems to get any sort of auditing, simply being re-stocked by unwinding gold leasing deals with JPM? 
    Soon they’ll host a high-profile audit, and there will be a whole lot of gold there. the question is: new or old bars?

    • Agreed, and better question… Why do people want it to default?  If there is mass chaos in financial markets globally I have a strong suspicion that it won’t be the people with silver and gold who are loving things, it will be the people with guns.  Not high on my wishlist.

    • EVERYONE HAS BEEN SAYING THAT THE COMEX DEFAULT WAS IMMINENT FOR OVER TWO YEARS. IF YOU LOOK AT REGISTERED VS ELIGIBLE THE REGISTERED HAS ACTUALLY INCREASED FROM OVER A YEAR AGO. ALSO THE COMEX AND CME RULES CLEARLY STATE THAT THE REGISTERED CAN BE FORCED TO TAKE CASH. THE ELIGIBLE CAN OF COURSE TAKE DELIVERY BUT THATS WHAT EVERYONE AT MF GLOBAL THOUGHT TOO.

    • Comex default will take the TBTF banks down with it. That is needed before we can start on any form of real recovery in this country.

  2. Can anyone here tell me why then would Nevada, now Arizona have passed legislation to make Gold and Silver a trade currency for goods and services and the 12 other states are considering doing the same? You must own paper if you think that The Comex is not in deep trouble. Have you tried buying physical lately? Just remember if you don’t hold it your hands, you simply don’t own it.
     
    IMO, I see a lot of new posters here that are not really up on the facts.
    Good Luck to you.
    Ranger

    • Ranger, do you have any links to the legislation or articles on it?  I tried googling but didn’t have much success to any articles with much detail.  
       
      I find that very interesting and curious how the vendors accepting gold/silver will price it’s value.  Will they use some reference to US$ I assume?  After all, not everyone will want to use silver/gold to buy goods they can buy with USD.  So then what becomes the standard, the metal or the fiat?  
       
      Very interesting times!

    • Much of the interest in state laws allowing gold and silver to be used as money seem to be based on the idea that gold and silver sales can be taxed but converting one form of money into another is not.  If you go into a bank and swap a $100 bill for five $20 bills, this is not a taxable event in any state.  If you swap a $100 bill for some 90% silver coins, it might be taxable depending on the laws in that state.  I think that the primary purpose of these laws is not to conduct business in PMs but to eliminate taxes on them.  I think that most of us here would prefer that PMs not be taxed, so see these changes in state laws as a positive step.  ;-)

    • Marchas, this is exactly how it works!  Comex is physical.  Say you make catalytic converters and your silver supplier now says he’ll sell to you but only at COMEX + $10…  you tell him go pound sand, you buy April or May paper, take delivery, and have it shipped to your production facility for far less than $10 / oz.
       
      The more this happens, the more the paper market will reflect the physical (i.e. you will find more paper buyers than paper sellers because the price is too cheap).  
       
      Be warned, this also happens in reverse!

  3. Listen, folks, the price of silver (since we are talking about silver) is based upon what the GENERAL SELLER is willing to sell it for, AND what the GENERAL BUYER is willing to pay, period.  Really, that has NEVER changed.  What changed is that the elitist greedy bastards (EGBs) created this PAPER price to control YOU, the stackers, and the uninformed.  This weekend I sold silver at SIGNIFICANTLY HIGHER than paper price…damn near embarrassing. No question, no problem.  Could have sold more.  Why?  Because astute people (NOT sheeple) know its a good deal at ANY price within reason.  Now for the sheeple.  They are under impression (this weekend, at least) that silver will go waaaaaay down, so they are selling.  Again, without any sense of priceline.  Me, I’m just a buyer and a seller.  The PAPER price has ABSOLUTELY NOTHING on the PHYSICAL price.

    • Maybe it is not sheeple selling… maybe it is a mine that produces silver only as a by-product and selling silver at $24 represents acceptable returns to their operation.  If so, why not sell?  They are not saving the metal for inflation, they are converting the silver to fiat to pay workers, pay bills, etc. etc. etc.  Meanwhile it gives the rest of us good buying opportunity.
       
      Let’s think about your situation, if you can sell silver at ‘embarrassingly’ high premiums, you can buy paper at spot price, stand for delivery, and have that 5,000 oz shipped to your house.  If you could melt the bars and form 1oz bars or rounds, you could then sell them to the populace at the high premiums and make a margin.  Not all of us have 5,000 oz X $24 sitting around to pay for that silver (myself included), not to mention the equipment to turnt he 1000oz to smaller increments.  However, those who do have that ability are executing this very trade!
       
      Check provident for OPM rounds, or look for them on Docs page.  Very reasonable premiums.

  4. Well,  well,  well;  speaking of manipulation, we’re in DC visiting the IRS and what’s left of our money.  I guess with all those big-assed buildings, that’s what our was used for.  With a stop by the Lincoln Memorial, Washington Monument, the reflecting pool and the Vietnam War Wall, we strolled along Constitution Ave near 21st Street, I noticed the silver coin in my pocket started making a funny sound, kind of like the noise my testosterone makes when watching a clip of  Woodie Allen movie.
    Distracted by a VP Biden motorcade; two drones on Smugways pulling a cart with Biden on board, or at least I thought it was the VP, unless it was Special Ed from Crank Yankers, I looked up and saw this HUGE building. 
    Yes, it was  FEDERAL RESERVE BUILDING– Home of Mental Ben;  The building that actually houses the Binford 1200, the same printer in operation since 2008, printing trillions in currency. We could hear the humming of this massive machine.
    I went up to the big  front door, banging on it with my fist, yelling for Ben to come out and see me.  “Come out here, you no good son of a bitch” I shouted.   I guess no one was working on Sunday.  We went around to the back and peeked in that door.  All we saw were huge stacks of FRNs,  racks and stacks to the ceiling. Hallelujah!! The FED is still in business.
      We left the grounds, assured that all was well and we can expect QE to Infinity. All is right with the world. I would have picked up some samples but we thought it would be best not to try to bring  a few hundred million in Benjamins past TSA.   They have no sense of humor. Besides which, the airline charges $25 for overweight bags. 

    • Not to worry, AG.  While the TSA definitely has zero sense of humor, they are VERY amenable to splitting some of that ill-gotten lucre with you.  The Gov has nothing against theft so long as they get their cut.  Try to stiff them, however, and they tend to get rather prickly about it.
       
      And never mind the over-weight bags.  Just stuff a large duffle bag with all the FRNs it will hold, buy an extra ticket, and fly home with your new “friend”.  ;-)

  5. Best Quote on SilverDoctors since I don’t know when:
    @Marchas45 said…”Keep Stacking and Starve a Bankster.”
    ————————————————————–
    Careful AGXIIK, don’t get yourself into trouble there in Washington D.C.  They will take you asay and send you to Guano Bay, and your with will sorely be missed here.

  6. Plenty of Monday morning quarterbackers around here lately, and I’m talking about names I’ve never seen before.
     
    Just remember why you started stacking in the first place, and all the research you have done along the way, and hold to your convictions. Don’t get rattled by a few rats in the sewers – they’ll come and go, but silver is forever.

    This is the only way to stay outside of the banksters game. Play by their rules, you’ll get wiped out as sure as the sun will rise again. Play by your own rules, and keep stacking, and you have a chance of surviving, and perhaps even thriving. To me, it’s a no-brainer.

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