embryIn the wake of historic movements in the gold and silver markets this week, Sprott’s John Embry joined us for a power-packed show, discussing:

  • Metals Drive-By Shooting As $2.7 Billion Notional in Gold Dumped in Nanoseconds: “This is financial repression at its finest!
  • CAPITULATION Bottom In Progress– Absolute OBLITERATION in Mining Sector!
  • Manipulation & MOPE Went Into Overdrive! I’ve never seen such a coordinated attack on gold in the media!
  • Sunshine Mint SUSPENDS SALES OF ALL SILVER BARS AND ROUNDS, & the RCM SHOCKS Distributors Friday By Announcing 90% Decrease in Silver Maple Allocations! 
  • Embry Explains Cartel Gets Aggressive Because “We Are Getting VERY CLOSE TO THE END
  • Just a Retail/ Minting Shortage? “There is a WHOLESALE SHORTAGE!…There’s so much misinformation in the markets!

    Sprott’s John Embry Provides MUST LISTEN Analysis On Metals Capitulation & Shortage Below:

empty-vault*UPDATE*  This just in from my source who said that there would be a shortage of silver at refiners by September/October:  Silver is tight as can be.  Nothing around in size
The bullion banks knew that the Mint was going to be forced to release the news that it was out silver – that’s why silver was slammed in the paper market when the Comex trading floor opened.
This is as criminal as it gets.

FOAFOFOA and its hardcore followers look at the world through shiny gold-colored glasses The folks at FOFOA believe the future value of gold is heading to the moon, while silver gets flushed down the toilet.
Here is one of their excerpts:

When the coming paper illusion price of gold is destroyed, sending its trading price way up and way down, several times, before shutdown… the thinner paper markets of lesser metals will be absolutely devastated. Yes we will see $50.00 silver in our time… $50.00 for a hundred ounce bar that is!  No less a relative price decline for the other metals is in store. Even if these actual dollar numbers prove incorrect… relative inflation adjusted prices will show the exact same ratios to gold. The gain will truly be in gold!

In the MUST READ article below, SRSRocco delivers FREEGOLD an intellectual smackdown and makes the case for MUCH HIGHER silver prices: 

empty-vaultWe had a huge addition of 3.57 tonnes in gold inventory at the GLD; thus the inventory rests tonight at 705.47 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. I am sure that 700 tonnes is the rock bottom inventory in gold.
I believe anything below this level is just paper and the bankers know that they cannot retrieve “paper gold” to send it onwards to China.


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:

imagesWindow-dressing or the management of prices for a favourable mark-to-market valuation at year-ends, half-years and quarters has long been a distorting feature in financial markets.
And, with bank capital adequacy ratios at stake, not to mention traders’ bonuses, it has been an increasing feature. With the onset of June 30th it seems reasonable to expect this factor to be a reason why gold and silver prices have generally failed to reflect escalating systemic risk in the face of Greece’s insolvency and a developing bear market in bonds. Indeed, losses from bonds are bound to encourage window-dressing of banks’ short positions as an off-set,
and they are generally short of gold and silver futures contracts.

Gold’s breakout today was nice to see; I’m a bit concerned that silver’s rally failed, and that the mining shares treated the breakout as more of a ho-hum than a cause for excitement.  As a result I’m a bit cautious about today’s price action.  Gold shouldn’t be leading the charge, it should be silver and the miners, and they are the ones holding back right now. 

return kingBottom-line:  we are witnessing a “managed retreat” this week and as I’ve been arguing since May 30th, June is going to surprise a lot of precious metals market observers.  The precious metals cyclical bear market ended in 4Q-2014 and the secular bull market has resumed.

PutinBelgium and France are about to confiscate Russian property in their respective countries due to the Yukos ruling.  The courts gave the Russians until June 15.2015 to comply.  They refused and now, both France and Belgium have decided to immediately confiscate Russian property.

HarveyOrgan1The total silver OI continues to remain extremely high with today’s reading at 191,774 contracts now at multi-year highs despite a record low price. In ounces, the OI is represented by 958 million oz or 136% of annual global silver production!