In silver, the commercials closed -12.2k shorts, an 8% decrease, while managed money bailed out of 10.8k longs, a 10.8% decrease. Commercials have finally started ringing the cash register after printing up a large amount of paper silver over the past months. From the COT report perspective, we are not at a low yet for silver – we need quite a bit more short covering in the commercials to bring us back to even a neutral position.

It ain’t looking good for one Bo Polny’s May prediction, AT ALL…
Unless something MAGIC happens, Bo’s latest declaration is headed for that huge scrap pile he has been amassing…

The commercials go net short by a rather large 6313 contracts with an advancing silver price.
Note the huge difference between silver and gold.
Somebody is taking on the crooked banks in silver and in gold!

Massive shortsWith Friday’s Commitment of Traders Report, the ridiculous has just metastasized into the sublime as the Commercial Cretins have just gone “over the top” and added another 5.4M “ounces” to their synthetic gold short position.
At 298,077 contracts declared short, they are now carrying the largest short position in Crimex history.
The scary part is that these figures don’t include the big rise in open interest yesterday and you just KNOW that it ballooned out due to more Cartel shorting.

smashWhat we do not see in the latest numbers are the silver Specs picking up more shorts as price descends and that has been their trait for the last year+.  They are depressed.  Severely depressed
The precise scenario exists right now for both silver and gold Commercials to totally obliterate the Speculators, once and for all.

silver rocket downIn September 2014, I wrote:

Precious Metals DEPRESSION IS the goal of the bullion banks and their minions heading into 2015 so all precious metals investors everywhere will lose their confidence in the metals and other hard assets, invest in paper stocks, then be raped when the world wide economic collapse takes place in the Fall time-frame of 2015.”

There were other “analysts” saying there would be Gold $2000 by the end of 2014.  Are they still writing?  Some said Gold was blasting off in June 2015.  Does anyone still read those guys? 

nuclearI want to make one thing perfectly clear.  We ARE NOT going to see Greece explode today and cause financial Armageddon and a bond and derivative worldwide economic collapse either today, tomorrow, this week, or next week. Greece is not going to be THE JIG that causes the dollar’s collapse. 
Forget about being thirsty for physical metal my friends, drown yourselves in it while it is so DIRT CHEAP with 95%+ of every cash dollar you can muster…

panicThe Commercials in both metals know the storm is coming…
Are you ready for the storm?  Have you converted 95% of all your paper to physical gold and silver or another hard asset?

Chaos is coming…
Anarchy is coming…
Those who wait until the last minute will find themselves without a plan.
Get out of the system while you still can.

gold bottomThe Large Specs are believers the bottom is not anywhere close to being in plain sight but the Commercials are going to play puppet master from above and below to get them there and avoid them covering for large profits on the way down to close to September.
What happens in the near future? 
I think we get a price rise followed by more price depression
The Large Specs are betting on more depression and the Commercials will give it to them… but not too quickly.