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Source: Nanex

In this EXCLUSIVE, MUST LISTEN interview with The Doc, Eric Sprott dissects the fundamentals in the gold and silver markets, coverage of manipulation finally reaching the mainstream, and reveals his updated outlook on gold & silver.
Eric discusses why the precious metals options markets always expire at MAX PAIN for the customers, and why he urges all PM investors to STAY OUT of the futures options markets, and simply accumulate physical metal.
Sprott explains how PM manipulation shifted from being conducted solely by the Central banks to the dealers active daily participation that we see now, and discusses how much he personally lost when a Barclays trader manipulated gold down into the London fix.  

Regarding his price outlook for the metals, with silver trading under $20 and gold trading near $1250, is Eric still looking for new highs in 2014?
His answer might shock you.

The Doc’s full Exclusive interview with Eric Sprott of Sprott Asset Management is below:

gunWell, it’s a bit of an exaggeration, but for the first three days of this week daily turnover in the gold future fell to about 80,000 contracts, compared with a more normal level of 120,000.
At the same time volatility fell to as close to zero as you can get.
Silver is now set up for a major bear squeeze, but for the fact that both silver and gold have a recent history of weakness into quarter ends. Gold bottomed a year ago on 26th June at under $1200, and again at the same level on 30 December. It also sold off into the end of the March quarter.

No doubt this predictable price behavior has encouraged silver’s bears into a technically dangerous position.

dry powder silverSo, here’s the deal. DO NOT get itchy to buy or get long…YET.  Let this play out.
Raise a mountain of dry powder and wait. Lay in the weeds with full knowledge of what is coming and then pounce later this month. Don’t be fooled by the first time GOFO slips negative. Recall that it did so on 12/9/13 only to move back positive on 12/12/13 before moving decisively negative on 12/19/13 ahead of the 12/31/13 Double Bottom.
Of course, in the long term, it matters little whether you add to your stack at $1240 or $1200.
   I get that. And anyone simply stacking should be sure to add on a consistent basis.  For traders of metal and/or miners, however, the main opportunity awaits.

LegendaryIn his latest video update, Chris Duane explains why the most oversold markets make for the largest returns.
Duane makes the case for the fact that silver is poised to place LEGENDARY GAINS once the current correction is completed, and that now is the time to accumulate physical silver while the metal is out of favor by nearly everyone. 
People marvel at the returns silver made from 2008-2010, but it is obvious that the next rally will blow that silver move away. 

Global Conventional Investment Assets Updated 2013 EstimateThere is no need in trying to prove precious metals manipulation, because it’s out in the open… right in front of your eyes.  However, this doesn’t stop the silly games being played by some of the well-known analysts in the precious metal community.
It is the siphoning of the majority of the worlds fiat currency-funds into the Derivative-Paper Market that is guilty of manipulating the values of gold and silver.  If a fraction of these funds moved into physical assets such as gold and silver, their values would rise to unimaginable levels.
The world will be forced to move into Gold and Silver one way or another.
My advice is… you better get some before it’s too late.

JP MorganTo all of you who are on the fence about buying physical, NOW IS THE TIME TO BUY while there is physical on the shelves.  In the coming months, I truly expect metal prices to continue to depress, but at some point there will be a HUGE gap to the downside where major players (the bullion banks) cash in on their shorts very very quickly, reaping the cash, then repositioning in LONG positions as silver and gold GO TO THE MOON.
During that VERY BRIEF WINDOW, it may not be possible to purchase silver and gold at rock bottom prices and the only options left are fiat futures, index fiat futures, or fiat metal mining stocks.  You do not want to be in any of those, IN MY HUMBLE OPINION.
I firmly believe what is coming is going to confiscate all metal in mines from personal stock holdings and it is my expectation just as we see the veiled robbing of 401Ks, retirement investments, and all such fiat vehicles to “cover” the coming collapse, that all investments in paper shares will be lost.
If we have a MAJOR crash next year, a financial crisis like the world has never seen, do you really think they are going to allow the small speculator holders of paper physical metal in futures or mines to hold those vehicles when silver is $500 an ounce and gold is $10,000 an ounce?
Stay thirsty for physical, my friends…

gold-nanex-feb2014_Dec-6-2013-NFP_smashLast week gold and silver fell sharply. The principal reason was the expiry of the June gold future contract on Comex, whose open interest has unwound 120,000 contracts in the last six trading sessions.
Some of this has been rolled forward, but Open Interest still took a bad knock as shown in the chart below.

This week started with a severe markdown in gold and silver prices when markets opened in the Far East on Monday morning, taking gold down $12 to $1278 and silver only 12 cents to $19.03. The clue in this was the resilience of silver, which hardly moved: it was an attack on the gold price presumably designed to take out stop-losses. From there precious metals never looked back.

David MorganPhysical silver demand was UP big in 2013. Ironically, physical silver production in Canada has dropped significantly in 2014.
Meanwhile, long time precious metals uber villain Jeffrey Christian is out with the 2014 CPM Group Silver Yearbook [priced at $150!!] which once again distorts the FACTS in service of the longtime Bankster narrative that silver in PHYSICAL form is abundant, easy to mine and of little real value.
David Morgan from Silver-investor.com joins the SGTReport to dissect the SILVER LIES and LIARS.

Canadian Silver Production Jan-Feb NEWCanadian silver production declined significantly in the first two months of 2014 compared to last year.  The huge drop off in production was due to the closure of two base metal mines and one primary silver mine in 2013.
Canada has lost two-thirds of its silver production in just twelve years.
While Canada isn’t a large global silver producer, it’s still a large percentage decline nonetheless.
As the Royal Canadian Mint continues to ramp up sales of its Silver Maples, the country will have to import more silver to make up for the shortfall in domestic production.

silver break freeWhat goods or services would you offer and be willing to accept gold or silver as payment?   How much gold and silver would you be willing to use as currency?  If you are serious about breaking the system, operating outside of the system and leaving a murderous, criminal, liberty and life stealing system behind, these are the questions that should be in the fore-front of every waking moment.
They have been for me for several years now and the time has come to begin making a real move away from supporting people that do not support nor care for the well being of me and my family. The only thing the federal government is interested in from me is how much will my family support, with our labor and currency, un-Constituntional wars, drug money laundering banking cartels and indefinite detention for all that oppose their system. Beyond those items, they care not for me or you or anyone else except for the other scum that make up the upper part of the 1% gang.
Will you consider breaking away from the system and researching how you can do that? Will you at least look at how the state of Utah functions to determine if their system will work for your business? Will you make any effort at all to get out of the system other than reading articles and “buying” gold and silver?   Until we, the gold and silver community, begin making real world efforts to break the system, the criminal elite are laughing all the way to the criminal bank that they own.