Bernanke-Dimon-Fed-Tunnel

The Doc and Eric Dubin from SilverDoctors & SD Bullion joined the SGTReport this weekend to talk about all things silver.
We discuss the new record in silver eagle sales and the fact that in ancient Rome, payment for a hard day’s labor was 1/10th of once ounce of physical silver.
Today, due to the massive manipulation, a person earning $50,000/year is compensated with the equivalent of 10-11 ounces of physical silver per day.
More than 100 times the historic norm — and it’s only possible because silver is the most manipulated, most undervalued tangible asset on earth.
The Doc points out that with the current silver gold ratio over 70 to 1, while the earth’s mining output in 2013 was a mere 8.3 to 1, a move to fundamental valuations could see silver place a 10 bagger vs gold!

The Doc & Eric Dubin’s full interview with the SGTReport is below: 

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In silver, the open interest fell by a small 823 contracts with yesterday’s rise in price of  $0.02.  Looks like some of the shorts are vacating the arena.
For the past year, we have been witnessing massive liquidation of contracts despite the fact that it cost nothing to roll.  This makes no sense and it smacks of cash settlements which are totally illegal.
Since I have been following comex data, I have never witnessed such a massive liquidation in both gold and silver. 

cliff edge

Notice the abrupt halt to the precious metals “rally”.  If the price spike was caused by enormous Speculator long buying enthusiasm, we would still be watching PM prices shoot or drift upwards.  This was a Commercial exercise, pure and simple.
It is very indicative of what will happen next year on a far larger scale where Speculator longs will be pounded “in the blink of an eye” by a Commercial short covering of gargantuan proportions.
Price will descend into the abyss for moments while pre-programmed Speculator short buying eats up shorts all the way to the bottom as Commercials gladly take the longs and the temporary “losses” and then WHAM price rebounds upward just as suddenly as it dropped.  But this time there will be no upper limit.

Price might just be about $14.15 (elite telegraphing the future?) this time next September when this event happens and may well dip into the $8 handle but when price rebounds minutes later it is not going to stop at $16.15 on it’s way to $100, $500, and beyond as trillions of dollars of paper fiat rush into commodities looking for a safe haven from what appears to be the repeat of the 2008 c rash.

bottom of the barrel

All GOFO rates moved closer to the positive and out of backwardation today- the bankers must have found a few bars to lease.  On the 22nd of September the LBMA stated that they will not publish GOFO rates.
It looks to me like these rates even though negative are still fully manipulated. London good delivery bars are still quite scarce.
The backwardation in gold is incompatible with the raid on gold. It does not make any economic sense.
Let’s head immediately to see the major data points for today:

weekend update

On Friday gold dropped -13.40 to 1192.60 on moderate volume, while silver dropped -0.20 to 16.28 on light volume.
PMs took a hit at 0830 EST at the time of the Nonfarm Payroll report, which significantly exceeded expectations.
This news was good for the buck, and bad for precious metals. 

The junior miners didn’t even make it as high as the 50, they look much weaker than their larger cousins.
I never like it when juniors under-perform, it always seems to lead someplace bearish sooner or later.

beach ball

It turns out the Swiss referendum last weekend which sought to force the Swiss National Bank to maintain 20% gold reserves was a red herring so far as precious metal markets are concerned, and set up precious metals for the sharpest rally seen in years. 

gold bottom
Play

In this week’s Metals & Markets The Doc & Eric Dubin break down all the action in the metals over the past week discussing: 

  • Negative GOFO rates, soaring 90% premiums, and month long delays- physical tightness is BACK!
  • Swiss cave in to banksters fear mongering, vote down Gold Referendum- impact on gold’s trading over the short and long term
  • Repatriation Contagion: First the Netherlands, now France now discussing Gold repatriation
  • Monday’s outside reversal saw silver soar 15% higher, and close over $2 off overnight lows of $14.45- have we finally seen the capitulation bottom & subsequent short squeeze, or are gold & silver about to roll over to $1050 and $12?

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

bankster manipulation

Gold straddled the 1206 dollar mark at midnight as the bankers were adamant to suppress the price having sent the signal to the boys earlier via  silver yesterday.
By 3 am (London first fix) gold traded at $1203.00. Gold hovered at these lower values and hit its nadir at $1202 at 5 am.  By 9 am (news from the ECB of non action) saw gold shoot up to $1213.  However the suppression scheme was still on and gold was knocked down to close at $1207.50 at the comex closing time and $1205.50 at the access closing time.
Let’s head immediately to see the major data points for today:

silver butler

The Wealth Watchman took time to stop by the SGTReport and compare thoughts on the ongoing lunacy of the globalist elites.
While sadly, the Swiss people’s original inclinations(to bring their gold home) were overwhelmed by a tsunami of bankster-gold hate, 
it’s a great victory that such a vote was held at all.
This has, no doubt, planted the seeds in millions of minds(in Switzerland and beyond), as to how precious gold is, and how important it is for a nation to possess it themselves.

It’s a no-holds-barred discussion, ranging from Dutch gold repatriation theories, to the relative size of the “plankton” silver market to the “Blue Whale”, known as Apple Computer, to the vampire living within Swiss borders.
The Wealth Watchman’s full interview with the SGTReport is below: 

HarveyOrgan

 

Gold was hit immediately in yesterday’s access market due to the fact that the banking cartel never allow gold to rise for two consecutive daysThe other goal was to keep gold below $1200.00.  It is my belief that above that level it is very toxic to the bankers due to the huge derivatives placed on gold to keep it suppressed.
Gold hit it’s zenith at  2 am (first London fix) with a price of $1209.00  From there it was downhill.
Let’s head immediately to see the major data points for today: