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With gold & silver taken to the woodshed once again while China was closed, Harvey Organ joined us for an explosive 100th Episode of Metals & Markets, discussing:

  • Metals Smash All About Options Expiration With China Closed On Holiday!
  • 3 Separate MASSIVE Derivatives Messes Could Each Send the System to SMITHEREENS!
  • Why Hypo Bank’s derivatives could take down the entire system
  • Greece On the Brink Of Default- the $5 Trillion End Game is Unfolding!
  • Harvey Reveals the Signal to Watch For That Will Indicate Gold is Going Through the Roof!

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

Harvey Organ

Yesterday was options expiry on the COMEX.  On Thursday we will have options expiry on the LBMA in London and on the OTC market as well.  It was no surprise at all to see the bankers try and whack gold and silver.
Their attempt today was quite feeble.

my-shorts-on-fire

We are now at multi year high in the total OI complex despite the low price. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end. The COT report on Friday in silver showed the commercials going long in silver in a big way and the large specs going short. 
Is a short squeeze coming?

rocket

Today is options expiry on the COMEX.  On Thursday we will have options expiry on the LBMA in London and on the OTC market as well.  Today was a welcomed change from our bankers normal behaviour of whacking silver and gold during options expiry week, however we still have 3 more days before first day notice.
The big story of the day:  China is set to do its own QE.  This was the rocket that propelled silver and gold today.

Harvey Organ

Monday is options expiry on the COMEX.  On Thursday we will have options expiry on the LBMA in London and on the OTC market as well. The bankers ALWAYS whack the precious metals prior to and during options expiry week.
The boys are also very concerned about the high OI in silver.

GLD

Today, we had a huge addition of 1.79 tonnes of gold inventory at the GLD/  Gold Inventory rests at 736.08  tonnes.
In silver, we had no change in silver inventory at the SLV/ and thus the inventory tonight is 324.900 million oz.
We have a few important stories to bring to your attention today…

HarveyOrgan

Greece paid the IMF on Thursday.  On Friday, it was announced that the ECB increased its ELA to Greece by 1.2 billion euros up to 73.2 billion euros as more depositors fled.  Yesterday, the London’s Financial times has reported that Greece has decided that it will withhold the IMF payment in May and June so it can pay its pensioners.
Also the reform package submitted by Greece is totally offside on its pension reform and on privatization.
Contagion seems to be spreading as yields widen with the advanced risk of default.