rocketThe commercials that have been short in silver covered a huge 5455 contracts from their short side. 
Conclusions: the commercials go net long by 8440 contracts! 
Something is bothering them and it may explain the huge activity inside the COMEX vaults…

 

Harvey Organ

GLD ADDS A WHOPPING 7.13 TONNES TO ITS INVENTORY/SLV ADDS 5.426 MILLION OZ TO ITS INVENTORY/THE BIG NEWS OF THE DAY; BLACKROCK’S GOLD ETF, IAU SUSPENDS THE ISSUANCE OF SHARES BECAUSE DEMAND FOR GOLD IS TOO STRONG (REAL MEANING: THEY CANNOT FIND PHYSICAL)/FORMER BRAZILIAN PRESIDENT LULA HELD BY FEDERAL POLICE: CHARGES PENDING AFTER A RAID ON HIS HOUSE/HONG KONG TO CHANGE ITS FUTURE GOLD CONTRACTS STATING THAT IT WILL BE SETTLED NOW ONLY IN PHYSICAL GOLD PRICED IN YUAN OR DOLLARS: PREVIOUSLY ONLY CASH SETTLED/ANOTHER PHONY JOBS REPORT OF 242,000 JOBS GAINS (WITH A 129,000 BIRTH/DEATH PLUG ADDITION/HUGE DISAPPEARANCE OF THE USA 10 YR TREASURIES AS COLLATERAL IS DISSIPATING RAPIDLY/AT END OF THE DAY, THE FED INTENDS TO LIMIT BANK’S EXPOSURE ON ONE COUNTERPARTY: BANKS DO NOT LIKE THAT!

Buy Silver Eagles SD Bullion

Gold:  $1,269.90 up $12.50    (comex closing time)

Silver 15.68 up 55  cents

In the access market 5:15 pm

Gold $1259.40

silver:  15.53

At the gold comex today, we had a fair delivery day, registering 16 notices for 1600 ounces and for silver we had 102 notices for 510,000 oz for the active March delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.

In silver, the open interest rose by 1033 contracts up to 164,801. In ounces, the OI is still represented by .824 billion oz or 118% of annual global silver production (ex Russia ex China). Generally as we go into an active delivery month the liquidation is much bigger.

In silver we had 102 notices served upon for 510,000 oz.

In gold, the total comex gold OI rose by a gigantic 25,944 contracts to 482,938 contracts as the price of gold was up $16.30 with yesterday’s trading.(at comex closing)

We had another huge change in gold  inventory at the GLD, a mammoth sized deposit of 7,13 tonnes and gold goes down early this morning? and rises only slightly? / thus the inventory rests tonight at 793.33 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex.   In silver,/we again had a major change in inventory/this time another huge deposit of 5.426 million oz  and thus the Inventory rests at 319.776 million oz

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver rose by 1033 contracts up to 164,801 as the price of silver was up 13 cents with yesterday’s trading. The total OI for gold rose by 25,944 contracts to 482,938 contracts as gold was up $16.30 in price from yesterday’s level.

(report Harvey)

2 a) Gold trading overnight, Goldcore

(Mark OByrne)

2b) COT report

(Harvey)

 

3. ASIAN AFFAIRS

 

i)Late  THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 14.39 POINTS OR 0.50% ON A LAST HR RESCUE, /  Hang Sang closed UP by 234.94 points or  1.18% . The Nikkei closed UP 54.62 or 0.32%. Australia’s all ordinaires was UP .18%. Chinese yuan (ONSHORE) closed UP at 6.5120.   Oil GAINED  to 34.69 dollars per barrel for WTI and 37.20 for Brent. Stocks in Europe so far IN THE GREEN . Offshore yuan trades  6.5098 yuan to the dollar vs 6.5120 for onshore yuan/ ON WEDNESDAY, MOODYS DOWNGRADES CHINA’S CREDIT FROM STABLE TO NEGATIVE

 

ii) Yuan soars on POBC intervention

 

(zero hedge)

 
iii)The Chinese plunge protection team came to the rescue of markets last night ahead of the big party meeting

( zero hedge)
 
GLOBAL ISSUES
 
The global shipping of dry goods continue to sink as the CEO of the large shipping company Golden Ocean Group is expecting many bankruptcies.  He warns of huge counterparty risk:
 
(zero hedge)
 
EMERGING MARKETS
 
Former President and much beloved by his people has been detained by Federal police.  Believe it or not, the real rose over 2.5% on that news: also Petrobas rises 18%.  the real rose because the world believes that for once corruption in that country will be stopped.
( zero hedge)
 
OIL MARKETS
 

i) Surprisingly WTI crude spikes to 2 month highs on the massive short squeeze we are witnessing

( zero hedge)

 

ii)Rig counts continue to decline.  They dropped below 400 for the first time since 2009:

( zero hedge)

100 oz Silver RCM Bar

PHYSICAL MARKETS

 

i)THE BIG STORY OF THE DAY:

Gold reacts to the suspension of gold ETF due to:
1. huge demand for gold
2. lack of supply for the physical metal.
 
( BlackRock/zero hedge)
 
ii) Indian citizens are revolting on another sales tax for gold!

( Bloomberg/GATA)
 
iii)This is big news.  Hong Kong will change its futures gold contracts to settle in real gold and the gold will be denominated in yuan and in dollars. The previous contract was only in dollars and was cash settled.

( Bloomberg/GATA)
 
iv)Alasdair Macleod’s commentary tonight is entitled:

(
 

“Brexit and a Hanseatic League”

Alasdair Macleod)

 

v)Bill Holter’s paper is a good one.  It is entitled:

 

Outright PANIC!”

(Holter-Sinclair collaboration)

 

vi)Good reason for copper to rise today:  Chinese inventories skyrocket

( zero hedge)
 
vii)James Turk on the huge demand for silver:

(courtesy James Turk/iRD/Dave Kranzler)
 

 

USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD AND SILVER

 

i)payrolls surge 242,000!! even as hourly earnings unexpectedly drop: the official release!

 
( zero hedge)
 
ii)the market INITIALLY does not buy the jobs number:

( zero hedge)
 
iii)Over 80% of the jobs created in January were minimum wage earners:

( zero hedge)
 
iv) What a joke: the USA has added 360,000 waiter jobs but only 12,000 manufacturing jobs:

( zero hedge)
 
v)What the Fed needs is job growth.  They did not get it as weekly earnings drop the most on record!

( zero hedge)
 
vi)Just look at what the lack of collateral in the 10 yr treasuries has done to this market. We now see an increase in “fails charge” as it is better for short investors to pay the penalty and not deliver as opposed to finding what little collateral (treasuries) are out there.  The huge shorting is potentially driving up rates on the 10 yr treasuries.  No doubt at around 1.88%, yield starving entities around the world would be unleashed, driving these yields back below the 1.60 level

an important read..
 
( zero hedge)
 
vii)This came out of left field. Late this afternoon, stocks tumble after the Fed plans that our too big to fail banks have a bank counterparty risk cap.  JPMorgan is tumbling and so are stocks.

(zero hedge)
 
viii)The USA trade report is worse than thought and the culprit is the high USA dollar:( Bloomberg)

ix) This week’s wrap up with greg Hunter

(Greg Hunter/USAWatchdog)

 

Let us head over to the comex:

 

The total gold comex open interest rose to a high of 482,938 for a monstrous  gain of 25,944 contracts as the price of gold was up $16.30 in price with respect to yesterday’s trading.  For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest:  1) total gold comex collapse in OI as we enter an active delivery month or for that matter an inactive month, and 2) a continual drop in the amount of gold standing in an active month.   Today, only the first scenario was in order as we actually gained in number of ounces standing for March.  The front March contract month saw its OI fall by 65 contracts down to 106.We had 87 notices filed yesterday, and as such we gained 22 contracts or an additional 2200 oz will stand for delivery. After March, the active delivery month of April saw it’s OI rise by 15,803 contracts up to 315,469. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 369,479 which is humongous.  The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was excellent at 258,872 contracts.It seems that the bankers  supplied the necessary gold paper today with reckless abandon. The comex is back in backwardation until April.

 

Today we had 16 notices filed for 1600 oz in gold.
 
And now for the wild silver comex results. Silver OI rose by 1033 contracts from 163,768 up to 164,801 as the price of silver was up by 13 cents with yesterday’s trading.  The next big active contract month is March and here the OI fell by 687 contracts down to 2766 contracts. We had 186 notices served upon yesterday, so we lost 501 contracts or an additional 2,505,000 ounces will  not stand for delivery. The next contract month after March is April and here the OI rose by 21 contracts up to 403.  The next active contract month is May and here the OI rose by 443 contracts up to 116,768. The volume on the comex today (just comex) came in at 69,880 , which is huge. The confirmed volume yesterday (comex + globex) was excellent at 48,980. Silver is not in backwardation at the comex but is in backwardation in London.
 
We had 102 notices filed for 510,000 oz.
 

March contract month:

INITIAL standings for MARCH

March 4/2016

Gold
Ounces
Withdrawals from Dealers Inventory in oz   nil
Withdrawals from Customer Inventory in oz  nil 2025.45 oz(Scotia)

63 kilobars

Deposits to the Dealer Inventory in oz 30,126.65 ozBRINKS
Deposits to the Customer Inventory, in oz   28,711.89 ozSCOTIA
No of oz served (contracts) today 16 contracts
(1,600 oz)
No of oz to be served (notices) 90 contracts(9000  oz)
Total monthly oz gold served (contracts) so far this month  521 contracts (52,100 oz)
Total accumulative withdrawals  of gold from the Dealers inventory this month   nil
Total accumulative withdrawal of gold from the Customer inventory this month 101,471.1 oz
Today, we had 1 dealer transaction
i) Into brinks:  30,126.65 oz
(and for a change a real deposit instead of those phony 4,000.00  deposits)
total dealer deposit; 30,126.65 oz
 
we had no dealer withdrawals
 
 
total dealer withdrawals nil. oz
 
We had 1  customer withdrawals:
i) Out of Scotia: 2025.45 oz (63 kilobars)
 
total customer withdrawal: 2025.45   oz
 
we had 0 customer deposits:
 
total customer deposit:  nil oz
 

we had 0 adjustment

SilverMapleSDBullion

 JPMorgan has a total of 46,083.778 oz or 1.4333 tonnes in its dealer or registered account.
***JPMorgan now has 634,356.528 or 19.734 tonnes in its customer account.
 
Today, 0 notices was issued from JPMorgan dealer account and 0 notice were issued from their client or customer account. The total of all issuance by all participants equates to 16 contracts of which 5 notices was stopped (received) by JPMorgan dealer and 0 notices were stopped (received)  by JPMorgan customer account. 
 
To calculate the initial total number of gold ounces standing for the Mar contract month, we take the total number of notices filed so far for the month (521) x 100 oz  or 52,100 oz , to which we  add the difference between the open interest for the front month of March (106 contracts) minus the number of notices served upon today (16) x 100 oz   x 100 oz per contract equals the number of ounces standing.
 
Thus the INITIAL standings for gold for the March. contract month:
No of notices served so far (521) x 100 oz  or ounces + {OI for the front month (106) minus the number of  notices served upon today (16) x 100 oz which equals 61,100 oz standing in this non  active delivery month of March (1.900 tonnes)
 
we gained a huge 2200 oz of additional gold standing for March delivery.
 
We thus have 1.900 tonnes of gold standing and 9.475 tonnes of registered gold for sale, waiting to serve upon those standing.  The bankers are still doing their best in cash settling as there is not enough registered gold to satisfy those that are standing.
 
We now have partial evidence of gold settling for last months deliveries We now have 1.900 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes = 8.882 tonnes standing against 9.475 tonnes available.  .
 
Total dealer inventor 334,772.85 oz or 10.412 tonnes
Total gold inventory (dealer and customer) =6,816,892.643 or 212.03 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period. 
 
JPMorgan has only 21.16 tonnes of gold total (both dealer and customer)
end
 
 
And now for silver
 

MARCH INITIAL standings/

March 4/2016:

Silver
Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory  2,108,993.611 oz(Delaware,Scotia, JPM)

 

Deposits to the Dealer Inventory nil
Deposits to the Customer Inventory 361,657.56 oz
 (Scotia)
No of oz served today (contracts) 102 contracts 510,000 oz
No of oz to be served (notices) 2664  contract (13,320,000 oz)
Total monthly oz silver served (contracts) 320 contracts (1,600,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month nil oz
Total accumulative withdrawal  of silver from the Customer inventory this month 7,036,067.3 oz

Today, we had 0 deposits into the dealer account: 

 

total dealer deposit;nil  oz

we had 0 dealer withdrawals:

total dealer withdrawals:  nil

 

we had 1 customer deposit

 

 

i) Into Scotia:  361,657.56 oz

:

total customer deposits: 361,657.56   oz

We had 3 customer withdrawals:
 
i) Out of Delaware; 609,698.76 oz
 
ii) Out of Scotia; 846,386.36 oz
ii) Out of JPM: 652,908.49 oz
 
 

total withdrawals from customer account 2,108,993.611   oz

 

 we had 0 adjustment

 

 

The total number of notices filed today for the March contract month is represented by 102 contracts for 510,000 oz. To calculate the number of silver ounces that will stand for delivery in March., we take the total number of notices filed for the month so far at (321) x 5,000 oz  = 1,600,000 oz to which we add the difference between the open interest for the front month of March (2766) and the number of notices served upon today (102) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the March. contract month:  320 (notices served so far)x 5000 oz +(2766{ OI for front month of March ) -number of notices served upon today (102)x 5000 oz  equals  15,920,000 oz of silver standing for the March contract month.
 
we lost a whopping 501 contracts or an additional 2,505,000,000 oz  that will not stand.
No doubt these were cash settled as they are running out of real silver.
 
Total dealer silver:  25.725 million  (near all time recorded low level)
Total number of dealer and customer silver:   150.438 million oz
Question: 1. why so much activity in the silver comex?
Question   2.  why so much deposit of silver and yet tiny delivery notices?
Question 3:   why are the total inventory in silver rapidly declining in total?
 
 
end
 
The two ETF’s that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.There is now evidence that the GLD and SLV are paper settling on the comex.***I do not think that the GLD will head to zero as we still have some GLD shareholders who think that gold is the right vehicle to be in even though they do not understand the difference between paper gold and physical gold. I can visualize demand coming to the buyers side:i) demand from paper gold shareholders ii) demand from the bankers who then redeem for gold to send this gold onto China

And now the Gold inventory at the GLD:

MARCH 4/another mammoth sized deposit of 7.13 tonnes of gold into GLD/Inventory rests at 793.33 tonnes.  This is no doubt a “a paper addition” and not physical

MAR 3/another good sized deposit of 2.37 tonnes of gold into the GLD/Inventory rests at 788.57 tonnes

MAR 2/another mammoth paper gold addition of 8.93 tonnes of gold into the GLD/Inventory rests at 786.20 tonnes.

March 1/a mammoth 14.87 tonnes of gold deposit into the GLD/inventory rests at 770.27 tonnes

FEB 29/another deposit of 2.08 tonnes of gold into the GLD/Inventory rests at 762.40 tonnes

Feb 26./no change in gold inventory at the GLD/Inventory rests at 760.32 tonnes

Feb 25./we had a huge deposit of 7.33 tonnes of gold into the GLD/Inventory rests at 760.32 tonnes. No doubt that this is a paper gold deposit/not real as the price of gold hardly moved on that huge amount of deposit.

FEB 24/no change in gold inventory at the GLD/Inventory rests at 752.29 tonnes

FEB 23./another huge addition of 19.3 tonnes of gold into its inventory/Inventory rests at 752.29 tonnes.  Again how could they accumulate this quantity of gold with backwardation in London/this vehicle is nothing but a fraud

Feb 22/A huge addition of 19.33 tonnes of gold to its inventory/Inventory rests at 732.96 tonnes/ How could this happen: a huge addition of gold coupled with a huge downfall of 20 dollars in gold.

FEB 19/a huge deposit of 2.68 tonnes of gold into the GLD/Inventory rests at 713.63 tonnes

fEB 18/no change in gold inventory at the GLD/Inventory rests at 710.95 tonnes

fEB 17/no change in gold inventory at the GLD/Inventory rests at 710.95 tonnes

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

March 4.2016:  inventory rests at 793.33 tonnes

 

end

Now the SLV
MAR 4/another huge deposit of 5.426 million oz /inventory rests at 319.776
MAR 3/a huge deposit of 2.732 million oz/inventory rests at 314.350 million oz
MAR 2/no change in silver inventory/rests tonight at 311.618 million oz
March 1/no change in silver inventory/rests tonight at 311.618 million oz
FEB 29/no change in inventory/rests at 311.618 million oz
Feb 26./no change in inventory/rests at 311.618 million oz
Feb 25/no change /inventory rests at 311.618 million oz
FEB 24/no change/inventory rests at 311.618 million oz
FEB 23/no changes in inventory at the SLV/Inventory rests at 311.618 million oz
Feb 22/ we have a good addition of 666,000 oz into inventory/Inventory rests at 311.618 million oz
FEB 19/no change in inventory/inventory rests at 310.952 million oz
FEB 18/no change in inventory/inventory rests at 310.952 million oz
fEB 17/ a huge withdrawal of 1.237 million oz of silver removed from the SLV/Inventory rests at 310.952 million oz
 
.
March 4.2016: Inventory 319.776 million oz.
 
1. Central Fund of Canada: traded at Negative 5.5 percent to NAV usa funds and Negative 5.7% to NAV for Cdn funds!!!!
Percentage of fund in gold 64.8%
Percentage of fund in silver:35.2%
cash .0%( Mar 4.2016).
2. Sprott silver fund (PSLV): Premium to NAV rises to   3.23%!!!! NAV (Mar 4.2016) 
3. Sprott gold fund (PHYS): premium to NAV rises to +.45% to NAV Mar 342016)
Note: Sprott silver trust back  into positive territory at +3.23%/Sprott physical gold trust is back into positive territory at +.45%/Central fund of Canada’s is still in jail.
 
 
 

end

 

At 3:30 pm we receive the COT report from the CME.

First gold:

 

Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
223,186 70,773 60,650 115,571 287,002 399,407 418,425
Change from Prior Reporting Period
-4,195 -11,630 13,043 -5,283 2,999 3,565 4,412
Traders
176 106 90 48 57 264 217
 
  Small Speculators      
  Long Short Open Interest    
  51,148 32,130 450,555    
  1,700 853 5,265    
  non reportable positions Change from the previous reporting period  
COT Gold Report – Positions as of

 

Our large specs:

those large specs that have been long in gold pitched 4195 contracts from their long side as we approached first day notice in March

those large specs that have been short in silver covered 11,630 contracts from their short side.

Our commercials

those commercials that have been long in gold pitched 5283 contracts from their long side.

those commercials that have been short in gold only added 2999 contracts to their short side.

Our small specs:

those small specs that have been long in gold added 1700 contracts to their long side

those small specs that have been short in gold added 853 contracts to their short side.

 

Conclusions: our criminal commercials only went net short by 5582 contracts. I expected worse.

 

end

 

And now for silver

 

Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
78,607 23,127 13,530 48,025 113,262
-4,582 1,865 -8,641 2,985 -5,455
Traders
90 48 41 37 42
Small Speculators Open Interest Total
Long Short 162,293 Long Short
22,131 12,374 140,162 149,919
-2,166 -173 -12,404 -10,238 -12,231
non reportable positions Positions as of: 145 120
  Tuesday, March 01, 2016

Our large specs:

Those large specs that have been long in silver pitched 4582 contracts as they entered first day notice in silver

Those large specs that have been short in silver, added 1865 contracts to their short side.

 

Our commercials:

Those commercials that have been long in silver added 2985 contracts to their long side

those commercials that have been short in silver covered a huge 5455 contracts from their short side

.

Our small specs;

Those small specs that have been long in silver pitched 2166 contracts from their long side

those small specs that have been short in silver covered 173 contracts from their short side.

Conclusions:  the commercials go net long by 8440 contracts. Something is bothering them and it may explain the huge activity inside the comex vaults.

    • Correct me if I’m wrong, but until the price is discovered in a non-rigged, physical market, all this info that Harvey puts out is useless.  This means until a player or players come along that can print more Fiat then the Fed-ESF tag team, and has an undisclosed amount of physical metal which to keep throwing at the problem,  we will not have a true value of anything.   Silver maybe more rare than gold at this point, but how would one know?

  1. Here are two great tells in the physical vs paper gold cluster bungle

    Blackrock’s  gold ETF cannot source gold so they stop selling more shares

    GLD snorkels up gold at 3-20 tons a day, as much as China and Russia combined

    Don’t you love it when the liars lie in plain sight?

    • @AGXIIK i having hard time believing silver is almost back to $16.00. i made an awesome buy of two 100oz silver bars right at the very bottom at $13.50 .. i been buying silver all the way down from $33.00.. i think my average is below $25.00 .. i would be surprised to see pms drop lower again.. it feels as though the bottom was in at 13.50 for silver.. what was gold at that time ?? like $1100 ?? i knew as soon as goldman sachs came out after that telling us to not buy that pms was going down.. i knew than that the bottom was in and we would be on our way up. if they want they can crash it down again to prove me wrong will be fine with me i will buy more lol . i aint trying to predict anything, i’m just talking trash as much as possible .

  2. Maybe I don’t understand the contracts?  But my math says 501 contracts x 5000ea =

    2,505,000 not 2,505,000,000.

    so is it 2.5 million oz or 2.5 billion oz?  I usually scroll past his numbers because I don’t really trust bankers numbers, but 2 billion really stood out to me, so I had to ask.

    • @Shamus001

       

      Your math is good.  AFAIK, there aren’t 2.5B ozs. of available for sale silver above ground these days.  There was at one time but that was back when various nations were minting silver coins as money.  Unlike most gold, most silver is consumed when it is used for commercial purposes.

       

  3. In addition, there seems to be a LOT of optimism this weekend?  Why the happy faces? Perhaps I’m missing something?  I admit, I typically just stack and save and stack, and figure to myself, when the metals pop, I’ll know it, and so instead of plaguing myself with anxiety, I just ignore many details until SHTF.

    (that and I have been busy with the gun show and my daughter)

    Please, ya’ll feel free to update me with the dirt!

    • All I know is the miners dove hard all at once and in the same day!

      That told me it was the bottom!

      Then you have the comex bleeding profusely and the march delivery month is huge!

      Next you had the hedgies long and the commercials way short with enough contracts on the comex to all but take it all out at once if they so desired! So when I saw this I knew silver would fly as the cartel cant have a run on the comex with no metal to refurbish the thing! Now you just had the reversal which I thought was a turkey shoot happen and the rest is soon to be history! Once 20 is broken then 30 is a lock and very soon! They say 18.50 but it will be 20!If we get our 5% day then you will know it is about to visit the moon!What we end up with will depend how much us stackers take from inventory this year!gl

  4. @Shamus001  My tired-a*** old math brain has trouble getting around 1 plus 1 equals to these days.  Common core is contagious and I think I got a case of that recently

    Some people say this means something and maybe they’re right but whether they’re talking about 1 million paper ounces or 1 billion, from my lowly perspective it’s like incoming rounds of artillery.

    It’s moot if its 105  155 or 16 inch bunker busters, we keep squirreling away the shiny like nuts for the winter.   At these prices, the concensus is shiny is pretty cheap

    I still think about $8 silver when Lehman when TU and even with BLSBS inflation adjustments, $15 silver is not much higher on an inflation adjustment from $8 and even lower when silver hit $13

    The one think I haven’t gotten my head wrapped around is whether there will be another big hit like we saw last week and silver dropped around 90 cents an ounce

    The enemy is expending all ammo to shoot down the prices but they’ve done so much damage to prices that all I see in rubble bouncing after each salvo.

    I gotta go stack my last silver shipment so it’ll sink real fast when the canoe tips over.

    goddam  I love stacking silver.  makes me feel all warm and fuzzy   Almost as much as stacking ammo and that shipment was huge.

Leave a Reply