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As promised to you, the crooked bankers continue with their criminal ways with a MASSIVE RAID on gold and silver on the week of options expiry.
Let’s head immediately to see the major data points for today:

empty-vault

Close to 20 million ounces have been removed from the “customer” accounts since February, held in vaults operated by banks like JP Morgan, Scotia and HSBC.  Yet, at the same time, the paper silver futures open interest has soared to near all-time highs. At the beginning of January, there were approximately 132k contracts of silver open interest.  As of yesterday, the amount was over 173,000 – close to an all-time high.
To put this in perspective, 173k contracts represents 865 million ounces of silver.  Compare this to the 66.7 million ounces reported by the banks to be in their “registered” vault account (registered = the silver available to be delivered).
In other words,  there’s 7.65x more paper silver that has been sold to investors/speculators than there is physical silver available to be delivered.
This is a Ponzi scheme that only the upper managements at Enron, JP Morgan and Madoff & Co. + the Secretary of the U.S. Treasury could appreciate.
No wonder investors holding their silver at the Comex are taking it OUT of the Comex.

HarveyOrgan1

Gold & silver were whacked by the cartel in the access market today as Janet Yellen and the Fed announced QE will end at the end of the month. 
Expect gold and silver to be under the weather for the remainder of the week.
Let’s head immediately to see the major data points for today:

GATA

The last two months have brought confirmation that, as we long have suspected, GATA has outlined only a small part of the surreptitious market manipulation being undertaken by central banks — that this manipulation is actually comprehensive, that it covers nearly every major market in the world.

Bernanke-Dimon-Fed-Tunnel

We are in a bottom for sure.  How long will it last is anybody’s guess- but silver stackers need not worry.
This is only a question of how much fiat can you raise in order to purchase hard core, hold in your hands bullion to hold for a couple of years through the greatest worldwide total economic collapse in history and the institution of a one world government and one world currency.

They simply must destroy the U.S. dollar along with all the world’s currencies otherwise the many that hold USD would retain power and that means many nations and small businesses that oppose them.
“The Powers That Be” want it all for themselves!

china bank run

In this excellent interview with SGTReport, Alasdair Macleod discusses the latest banker “suicides” which have all of the hallmarks of intelligence agency ‘wet work’.
Alasdair also explains how China could easily have acquired 20,000 tons of gold in recent decades – and as SRS Rocco recently pointed out, an additional 10,000 tons of gold in just the last three years!
Full MUST LISTEN interview is below: 

Gold-Loan-2-1

We can’t speak about the manipulation of the gold price today without understanding the derivatives market.
These products have never been tested in the real world and especially in adverse conditions as a major crash.  
I have concluded that the next financial crisis will have derivatives at its core.
The 2008 crisis confirmed it to some extent.   The next crisis will be much worse and it will also have derivatives at its core.
In the gold market derivatives are presently dictating to the physical market what the price should be whereas by definition, as derivatives, they should be derived from prices set in the physical market.

manipulation
Play

In this week’s Metals & Markets, The Doc & Eric Dubin break down the week’s action discussing: 

  • First Majestic Silver takes on the cartel- holds back 35% of Q3 silver production- CEO Keith Neumeyer issues call for silver miners to form their own cartel to put an end once and for all to paper manipulation
  • Russian/ US Geopolitical crisis escalates- Putin warns of MAJOR CONFLICT with US, loss of reserve currency status for dollar
  • Swiss Gold Referendum- could a YES vote shatter the cartel’s grip on gold? 
  • Silver market tightens- premiums are on the rise as Royal Canadian Mint begins allocating silver maples, major private mints running production delays on PHYSICAL metal
  • Gold predictably capped at $1250- whats next for gold & silver? 

The SD Weekly Metals & Markets With The Doc & Eric Dubin is Below: 

Pisani gold gld

Another 2 tonnes of gold was removed from the GLD trust yesterday.  The last time the reported amount of gold in GLD was this low was November 18, 2008.   The price of gold was $738.
Despite the fact that the price of gold is up about 2% YTD, 6% of GLD’s reported amount of gold has been removed by the bullion banks.
I predicted in 2009 in a report I wrote about GLD’s legal structure that GLD would eventually suffer the same fate as Enron.   In fact, our entire is system is one giant Enron/Madoff Ponzi scheme.

To compound the removal of the “visible” physical stock of gold from our western system, nearly 10 tonnes of gold was removed from JP Morgan’s Comex gold vault:

EmptyVault

As the increasingly volatile stock markets bounced back higher today,  JP Morgan experienced one of the largest withdrawals of gold from its inventories this year.  In just one day, a stunning 321,500 oz of gold (10 metric tons) were removed from JP Morgan’s Eligible inventories:

HarveyOrgan1

Today, we had a huge withdrawal in inventory at the GLD. of 2.1 tonnes.
On the 22nd the LBMA stated that they will no longer publish GOFO rates.

It looks to me like these rates are now fully manipulated. 

Pisani gold gld

Another 9 tonnes of gold was removed from the GLD trust yesterday.  This takes the “reported” amount down to 751 tonnes.
The last time the reported amount of gold in the trust was at this level was November 18, 2008.
The price of gold was $738.

asian gold demand

China is still in a holding pattern ready to pounce when needed.
The open interest on silver is  still highly elevated.  Gold has a low OI with a low gold price.  Silver has a high OI with a low silver price.  Something has got to give!!
Let’s head immediately to see the major data points for today…