wealth watchman

Despite the ridiculous 80/20 rule and the import taxes heaped on by the authorities (read the Central banksters in India and elsewhere), which continue to unfairly burden the hundreds of millions of citizens there who want to stack precious metalsthe heroic Indian stackers continue to line their temples, their safes, their brides’ necks, the wheels of their cars, and perhaps even the bathroom walls with the metals of kings and gentlemen: gold and silver!
In fact, the unbelievably strong demand in India, for both gold and silver, is at surreal levels.  
It is so huge at this point, that it’s terrifying their central bankers, and bullion bankers the world over!

gold

Gold had a volatile week, but rose from $1147 last Friday afternoon to a high of $1205 on Tuesday.
On Wednesday the price moved between down $25 on the latest opinion poll on the Swiss referendum, then recovered to $23 before falling again on the release of the Fed’s FOMC minutes.
However, despite these unsettling swings gold rose on the week by about $30 overall, making it two weeks in a row as shown in our first chart.

Official-Central-Bank-Gold-Demand

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.

gold reserves

The Netherlands has repatriated about 130 tonnes of their gold reserves, according to a press release published by the central bank.
The gold was repatriated from the vaults of the Federal Reserve in New York back to the vault of ‘De Nederlandsche Bank’ in Amsterdam.
This operation took several months and was done in complete secrecy.
The full press release on this secret gold repatriation by the Dutch central bank:

moon

In this interview with Finance and Liberty, Golden Jackass editor Jim Willie discusses:

  • U.S. Mint SOLD OUT of Silver Eagles- is this the first sign of a massive physical shortage of precious metals?
  • GLD and ScotiaMocatta being drained of physical gold
  • The U.S. government has ALREADY DEFAULTED on its debt; China is taking control
  • How returning to a gold standard might work
  • Willie’s outlook on Gold- why a MASSIVE MOVE to $18,000/oz is coming

Jim Willie’s MUST LISTEN interview with Elijah Johnson is below: 

Massive shorts

It looks like we have a few nervous shorts in silver racing against the clock to cover some of their shortfall!!
The total silver OI  remains extremely high with today’s reading  at 173,075 contracts. The big December silver OI contract marginally lowered to 71,638 contracts. The high December OI is huge news as those longs remain firmly planted ready to take on the bankers.
The potential for a MASSIVE short-squeeze is brewing.

gold bull

Gold has staged a nice upside breakout, from a bullish flag pattern.
A rise above $1200 could usher in a lot of momentum-oriented buying,creating a near-vertical surge to the $1235 -$1240 price zone.
In my professional opinion, gold demand in India for Diwali has been the main price driver of this rally, and that demand has overwhelmed speculators carrying short positions on the COMEX.
Gold is in a tremendously strong position right now. The weekly charts are very bullish, and flag patterns are in play on the shorter term charts.  Fundamentally, India is a force to be reckoned with for decades to come, and the Swiss referendum and the potential for the ECB to become a gold buyer is growing.
Almost all the lights are green, for gold! 

silver mine

Silver OI rose sharply by 892  contracts from 172,725 up to 173,617  as silver was down 26 cents yesterday.
It seems that judging from silver’s OI, our banker friends are still very nervous as they try to cover their massive shortfall in silver.
In ounces, this represents a total of 868 million oz or 124.0% of annual global supply!
Let’s head immediately to see the major data points for today:

HarveyOrgan1

Gold and silver did not have  a great day price wise.
I reminded everyone on Friday that:
The bankers will regroup and will try and forcefully send gold and silver back down on Monday.  Of course the problem that the bankers have is this:  every time they orchestrate a huge raid, some strong entities (a sovereign??) are in there gobbling up much of the naked offering of our bankers. The bankers risk that many of the longs purchased will end up on the delivery table.” 

And sure enough, the bankers started their raids once the COMEX session got under way.

Swiss-Gold-650x360
Play

Matterhorn Asset Management’s Egon von Greyerz out of Switzerland joins the show for a special episode this week covering the historic Swiss Referendum, discussing:

  • Is the latest PM take-down ALL about the Swiss Referendum and portraying gold in as negative a light as possible to the Swiss people ahead of this month’s Swiss Referendum?
  • Egon explains why we are witnessing the FINAL EXHAUSTION in Gold & Silver Manipulation!
  • Paypal shuts down account for Swiss Gold Referendum, confiscates funds in Gestapo like move!
  • Trouble brewing in Euroland?  Egon predicts there is No chance the Swiss Franc/ Euro peg will hold with a yes vote!

Don’t miss this Special Edition Metals & Markets with The Doc, Eric Dubin, & Egon von Greyerz with full coverage of the Swiss Referendum: 

freefall

Nearly 3 years ago, with silver trading near $40/oz and gold near all-time nominal highs, SD gold & silver analyst Marshall Swing shocked the PM community by warning that silver would crash to $15/oz, then rocket past $1,000/oz as fiat collapses! 
Fast forward to Oct 31st, 2014, and silver has indeed crashed to a $15 handle.  
Does the ONLY precious metals analyst who forecast silver’s crash from $50 to $15 still believe a silver moon-shot past $1,000/oz is coming along with a full-fledged fiat currency collapse?
Take heart silver investors.  The one analyst who saw this coming remains as bullish as ever:

beach ball

Gold and silver  had a great day price wise.
However it did not start out that way.  The criminal bankers started early last night with gold being pushed back below the $1160 level reaching its nadir at around $1145 early in the comex session.  Silver saw its lows at around 2:00 am  (London fix time) at $15.30.  Then at a little after 9 am both metals started their huge ascent as the physical markets totally overwhelmed the paper markets.  One could see that the market was going to test the huge $1180 gold resistance level.
The dam burst as it could not stop gold’s huge demand as gold ended the day at $1185.60 and silver at  $16.31.

The bankers will regroup and will try and forcefully send gold and silver back down on Monday.
Of course the problem that the bankers have is this: