London has been pretty much emptied out – I don’t think there’s a lot gold left in London that’s available for shipment elsewhere. – James Turk
Expert PM analyst Steve St. Angelo (SRSRocco) joins the show this week discussing:
- How long can the bankers manipulate the price of gold & silver? Can it continue another decade or two?
Steve explains why the price of silver is poised to rise EXPONENTIALLY
- Steve explains why When the Light Bulb goes on (for global investors), you’re going to see see a MAD RUSH into precious metals, and crazy prices!
- With the oil price cut in half over the past 6 months, is Peak Oil a Myth of the past, or is it closer than ever- and what are the implications for gold & silver?
- Steve believes the numbers indicate that Silver investors are becoming complacent in 2015- the time to buy insurance is BEFORE your house burns down and its TOO LATE!
- We’re going to see convulsions in the market- by 2020 the world will be a totally different place, and it will be difficult to obtain physical precious metals!
- “What happened to Ammo will happen to Gold & Silver!”
The SD Weekly Metals & Markets With The Doc, Eric Dubin, & SRSRocco is below:
The world is heading towards an economic and financial collapse of epic proportions.
ENERGY drives the markets, not FINANCE. Finance is supposed to steer the economy in a straight line on the road, not full speed over the cliff. Without a growing energy supply, there would be no U.S. Dollar Fiat Monetary System.
That being said, the global gold mining industry is now in serious trouble as the current low market price impedes exploration which would guarantee future production. How bad is it?
Well, let’s look at the following chart:
The Austrian Court of Audit expresses great concern about the disproportionate amount of official gold reserves (229.6 tonnes) stored at the Bank Of England (BOE), which will be the Austrians excuse for repatriating, “the gold depository contract with the depository in England contained deficiencies” and, “gold reserves stored abroad, internal auditing measures were lacking”.
They’re putting it blunt for an official source on a topic so sensitive as gold.
Americans are in big trouble and they don’t even know it.
The financial system in which they are totally invested is heading towards an epic collapse.
Printing money and increasing debt (exponentially) are not sustainable business practices.
These artificial techniques to prop up a Zombie Economy have a certain lifespan… one that will end much sooner than later.
And the cartel were afraid they were scraping the bottom of the barrel in remaining gold supplies after raiding Ukraine’s gold reserves….
Science Magazine has reported there are an estimated 360 tons of gold flowing through global sewage.
Who would have thought that the Coney Island Waste-water Treatment Plant may hold more gold reserves than the NY Fed?
Just how bad do you
want need it Jamie/Lloyd/Janet/Mario?
If any country knows about the flow of gold it is Switzerland. They are the refining hub.
Did the SNB look at the data and realize that the physical offtake was reaching levels where it could no longer be ignored?
In my humble opinion the SNB was short gold and they needed to cover- AND COVER THEY DID.
We just received word that Germany repatriated 120 tonnes of gold: 35 tonnes from Paris France and 85 tonnes from NY! We already knew that 47 tonnes was repatriated from FRBNY (to Germany and Holland) during the month of November of which 3.5 tonnes belonged to the Netherlands. Thus 43.5 tonnes of gold was repatriated to Frankfurt for the entire 2014 year up to the November figure. With the BuBa announcement of 85 tonnes arriving in December, we now know that Germany repatriated 41.5 tonnes of gold in December.
We will get verification of that on the release of the FRBNY figures next week.
However what is true is the speed of repatriation is accelerating!
Here comes the global run on gold…
Something BIG changed after the collapse of the U.S. Investment and Housing Markets as a huge crack in the Fiat Monetary System took place. After the world nearly disintegrated under the debt-based U.S Dollar system in 2008, some of the Central Banks of the world finally found MONETARY RELIGION.
At this time, and according to some of the more enlightened Central Banks, gold was no longer a worthless piece of metal whose sole purpose in government was to be pawned off to support a worthless paper monetary system.
In just a few years time, the huge flood of Central Bank gold into the market dried up and switched to become a large source of demand.
Going into the London close Wednesday, precious metals were raided.
But then, a funny thing happened…
The 6th month GOFO rate has entered backwardation.
The backwardation in gold is incompatible with the raid on gold . It does not make any economic sense.
Lets head immediately to see what the data has in store for us today:
The record high investment demand of silver and gold, coupled with monstrous central bank purchases, is putting the hurt on the “just in time” precious metal-delivery system the bullion banks have been operating for many years.
These banks are being caught in a pincer movement, which are once again threatening their hallowed, price-setting mechanisms.
There’s growing evidence that the system’s widening imbalance between supply and demand is again becoming critical. The amount of silver and gold that Western central and bullion banks are able to bring to the market is growing more and more inadequate.
As long as the cartel can make timely deliveries to all the parties who want to buy silver, then this silver price suppression scheme will continue. We will only see a freed silver price (as we nearly did in 2011) when they take silver’s contractual price (paper price) to levels which cannot be adequately delivered to both investors and industrial users alike.
With each and every Comex-Open, silver price-pummeling, that day grows ever closer.
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: