manipulationThe silver paper futures open interest is now officially over a 1 billion ozs., most of which represents a naked short position in silver.   Never in the history of the markets has any futures market been this extraordinarily disconnected from the amount of underlying physical commodity that is available to deliver against those contract open interest.
The only conclusion that can be drawn is that the Fed, Treasury and big banks are implementing the most extreme market manipulation exercise ever witnessed.
I shudder to think about what catastrophe is coming at us that they know about but we don’t – yet.

Bernanke-Dimon-Fed-TunnelI assume JP Morgan and the Fed are one and the same.  There have been stories JPM has amassed 350 or more ounces of silver.  We also know China/Russia/India have been huge buyers of gold.  We now know JPM has increased their derivatives by over $3 trillion in just one quarter.  It is obvious to me, they are the ones sitting on the paper prices of gold and silver.  This would make sense for the Fed to attack the metals and thus support the dollar.
In fact, standard procedure in any war is to strengthen your currency while weakening your opponents.  I believe the neocons know the bottom of our “gold barrel” is close at hand, they have decided to go ALL IN on price suppression.

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marketsWith the Metals Hit Yet Again, Eric Dubin Goes On An All-Out RANT in This Week’s Show, Discussing:  

  • Why June Was the Most Interesting Trading Month in the Entire 15 Year PM Bull Market
  • Silver Open Interest EXPLODES Over 200,000 Contracts For the First Time in History! 
  • S.C. Shooting Kabuki Theatre As Elite Work to Fasttrack TPP & Obliterate the Constitution!
    No COMEX Expiration Raid?
     Implications & Conclusions
  • Rebooting of the Bull Cycle in Gold & Silver is Underway- Just Can’t See it on Short Term Charts! 
  • Eric Dubin Explains Just Exactly Who is Taking the Other Side of JPM’s Massive Naked Shorting of Silver, and Why a Genuine Shortage of Silver is Coming Directly Down the Pipe!
  • Why Things Are Shaping Up For a HOT Summer!

    The SD Weekly Metals & Markets is Below:

falling-bearGold and silver are languishing near major lows, trudging through the barren sentiment wasteland of the summer doldrums.
The major factor behind this weakness is extreme shorting by American futures speculators.  But their heavily-bearish bets are actually VERY BULLISH for both precious metals.
Not only do these traders as a herd always bet wrong at price extremes, their shorts are guaranteed near-future buying.

For the first time ever, total Comex silver open interest exceeded 200M contracts yesterday, settling at 200,273. This means that the coming Spec short squeeze is going to be violent and substantial.
And why isn’t anyone calling this a “bubble”?

ChristianIts been awhile since we’ve shone the spotlight on our favorite PM Perma-Bear, Jeffrey Christian of the CPM Group. 
In this interview with Daniella Cambone, Christian downplays the Greek debt crisis (“people are pretending or acting that it is much more important than it is“), and not surprisingly, thinks gold could go lower
For Entertainment Purposes Only, Christian’s Full Interview is Below:

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stormWith gold and silver popping this week, The Doc & Eric Dubin Break Down All the Action Discussing: 

  • Gold and silver back above key support/resistance levels- Time For Another Managed Retreat by the Cartel?
  • Will Bo Polny’s Latest Call Be Correct and Gold and Silver Surprise to the Upside in June?
  • The Doc & Eric Dubin Discuss Tyler Durden’s Theory That the ECB is Intentionally Triggering Greek Bank Runs- Is a Greek Collapse Really in the ECB’s Interests, or is a Bail-in More Likely?
  • Eye of the Storm- Why Eric Believes Things Will Get Interesting Come July

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

shortsBack on April 15, we accurately projected that a major Spec short squeeze was brewing in the coming days.
Nine days later, silver shot higher in a move of +14% in just over three weeks.
Well, guess what.
The conditions that created that move have returned and another significant short squeeze is right around the corner.

silver shortageBased on the numbers below, the amount of naked short interest on the Comex is 904.2 million ounces, which is the amount by which the total paper open interest exceeds the amount of silver – 57.8 million ounces – that has been made available for delivery.
This market imbalance represents first and foremost a degree of market intervention and price-setting collusion that has never been witnessed in the history of any market.
There’s a reason the Government is enabling this illegal activity to persist and to grow more extreme.  I have a bad feeling that no one wants to see this reason and I have a worse feeling that we may find out this year…

manipulationThe open interest in Comex silver hit another new all-time high yesterday.
Never in the history of the commodities markets has the amount of futures outstanding for any commodity been this extraordinarily disconnected from the amount of the physical supply produced and available for delivery.

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Fed monkeyWith Gold and Silver Under Attack Yet Again, Fund Manager Dave Kranzler Joins the Show This Week Discussing:

  • Kranzler Explains Why Silver Manipulation Right Now is the MOST EXTREME IN HISTORY!
  • Silver Open Interest Soars Over 191,000, Highest OI EVER!- 1 B Oz of Paper vs 50 M oz of Physical! 
  • Cartel is losing control of the market- UTTERLY FAILING in This Week’s Attempts to Smash Silver Under 16!
  • The ULTIMATE BLACK SWAN That NO ONE IS LOOKING FOR!
  • Greek Crisis Nears End-Game- Greek Depositor Bail-in & Capital Controls This Weekend?
  • London Source- London Will Be Out of Silver to Send to Refiners By Sept/Oct!
  • Silver & the Shares Will Be the Best Performing Assets of 2015- Big Money Expecting MUCH HIGHER Prices!

The SD Metals & Markets With The Doc, Eric Dubin, & Fund Manager Dave Kranzler is Below:

The Pilgrims Society and the ancestors of those who founded it are THE gold and silver price suppressors and the ones who shoved the whole world off metallic money and forced the world into fake currencies by which the issuers are enriched and everyone downstream is harmed by inflation.

CME Group bars two gold futures traders for allegedly spoofingJamie Dimon

This is propaganda 101. The lie big enough that it’s almost mesmerizing.
As long as you keep them confused, disconnected, and anesthetized, the crime can continue unabated…

SILVER COT Chart 4 YearThere is no limit to how high the value of gold and silver could reach as the Greatest Paper Ponzi Scheme in history collapses.
Something strange is going on in the silver market.  There is no reason the U.S. should be importing a record amount of silver bullion as Silver Eagle sales are flat year-over-year, industrial silver consumption is likely lower, and the COMEX silver inventories didn’t really increase that much during the first quarter of 2015.
This makes the huge increase in the Commercial Net Short quite interesting. Something BIG IS ABOUT TO HAPPEN TO SILVER
The real question is… WHICH WAY WILL IT GO?

mineGold and silver are being hit again in early COMEX trading today, with silver plunging to $16.30 and gold knocked below crucial support at $1180 with a last of $1175. 
We suspect the commercials (JPM) are preparing to put their 125,000 naked silver shorts accumulated on May 19th at silver’s short term top of $17.80 to use…

my-shorts-on-fire

(Editor’s note: with today’s gold & silver smash down to the bottom of their respective trading ranges, this will either prove to be the short term call of the year, or be epically wrong)

Our forecast stands unchanged; the final up cycle into the 2015 June spike top has now begun.
In June 2015 the shorts will run to cover as Gold and Silver spike!

The breakout point is the $17.50 – $17.75 range for Silver when the SHORTS will be forced to ‘cover’.

First Majestic Silver’s CEO Keith Neumeyer (who advised SD readers in a 2012 interview that “I am a TRIPLE DIGIT silver guy“)  has just stepped to the plate as the first major player in the silver market to call out the CFTC on massive silver manipulation by commercials acting as speculators.
In an open letter to CFTC Chairman Timothy Massad, the CEO blasted the CFTC:

Something is wrong with the price discovery process, since real producers and consumers of silver don’t appear to be represented…” 

SwingToday’s (Monday) wild upswing and subsequent crash are a reversal to add Commercial shorts.
Commercials use an upward swing to blast Spec shorts then add more to their shorts at the top then quickly HFT crash price to kill new Speculator longs and the net result is they strengthen their new short position.
The Commercials are building their short base to move price lower.

That does not portend well for future metal price, AT ALL.

beach ballAs expected (and as Eric Dubin and The Doc discussed on this weekend’s M&M), with options expiration now in the rearview mirror, and with the Greek debt crisis setting up for potential fireworks at the end of the week, gold and silver have just exploded higher, with silver popping back above $17, and gold has just popped back above the $1200 level the banksters spent so much effort defending last week: