SILVER-RUSH

Investors snatched up a record number of Silver Eagles as the paper price was manipulated to new lows today.  This is a very strange market phenomenon, as several “Official” analysts forecasted a drop or sell-off of physical metal if the price continued to decline.
In just the past two days, investors purchased more than 1.4 million Silver Eagles.  This pushed the total sales for October to 5,790.000, surpassing the record set in March at 5,354,000:

JPMorgan

Just in time for the Halloween Spooks to come out and play by slashing the prices of the precious metals, JP Morgan (vampire squid), experienced another ghastly withdrawal from its gold inventories Friday.   Something quite eerie seems to be taking place as the majority of Comex gold withdrawals are coming out of the dark dungeons at JP Morgan Chase.
In just one week, JP Morgan has lost 41% of its total gold inventories. 

Gold-Loan-2-1

We can’t speak about the manipulation of the gold price today without understanding the derivatives market.
These products have never been tested in the real world and especially in adverse conditions as a major crash.  
I have concluded that the next financial crisis will have derivatives at its core.
The 2008 crisis confirmed it to some extent.   The next crisis will be much worse and it will also have derivatives at its core.
In the gold market derivatives are presently dictating to the physical market what the price should be whereas by definition, as derivatives, they should be derived from prices set in the physical market.

silver mine

The first primary silver miner in the industry just announced that it suspended sales of silver during the 3rd quarter due to the low market price of silver.  First Majestic suspended sales of 35% of its Q3 silver production.
While this is only a small part of the primary silver mining industry’s overall production, at least First Majestic is trying to set a precedent by standing up to the manipulated low price of silver.   If other companies joined the band-wagon and held back sales of their silver production, this could send a clear message to the Bullion Banks… that FUTURE PHYSICAL SUPPLY shouldn’t be taken for granted.

EmptyVault

As the increasingly volatile stock markets bounced back higher today,  JP Morgan experienced one of the largest withdrawals of gold from its inventories this year.  In just one day, a stunning 321,500 oz of gold (10 metric tons) were removed from JP Morgan’s Eligible inventories:

The-Pilgrims-Image-1

GOLD HAS NO USEFUL PURPOSE TO SERVE IN THE POCKETS OF THE PEOPLE—Pilgrims Society member Alan Sproul, president of Federal Reserve Bank of New York, addressing the anti-precious metals American Bankers association meeting in San Francisco.

copper

According to the financial media, the global economy is supposedly rolling over causing a glut of inventories producing a deflation in the prices of many commodities If this is the case… someone should tell that to King of base metals… Copper.
Something doesn’t seem to be making sense in the copper market as the price continues to decline, so are the level of global copper inventories.  You would think the opposite would be the case, but we must remember in the new Financial Paradigm — Paper assets such as Derivatives, Stocks and Bonds are KING, while Gold-Silver and commodities are GARBAGE.
If we look at the chart below, we can see a very interesting trend taking place in global copper inventories.  Not only are we are near record lows, we are down to less than five days worth of copper inventories:

US gold

Ever since the world suffered a near collapse of its economic and financial system in 2008, investors around the globe have purchased physical gold in increasing volume.  However, if you lived in the United States… the opposite is the case.
Not only did Americans purchase less gold, they ranked DEAD LAST on the planet.

silver sales

After the recent price smash in silver, investors purchased a record amount of Silver Eagles.  In the past week, the U.S. Mint sold a great deal more Silver Eagles than it did during the same time period in every other month of the year.
Not only are first week sales of Silver Eagles stronger than any other month, they have already surpassed the total sales in the month of July and August!
The best time to buy Gold or Silver is anytime before the Financial System collapses.
The day after… will be too late.

JP Morgan

The Primary Silver Mining Industry continues to suffer from manipulated low metal prices. 
The miners produced 37% more silver only to see their total revenues decline while their adjusted income fell an amazing 88% over the past two-years. 
And remember… this was at an average realized price of silver at $19.89.
Can you imagine what the losses will be at $17??

EmptyVault

We all know that the end of COMEX price rat-holing of gold and especially silver has a more limited life now than ever before.
Have you wondered what will be the response of the President and Treasury Secretary might be to a silver default? 

2012 Amercian Silver Eagle

The market has reacted to the big drop in the paper price of silver by a huge increase in Silver Eagle purchases. 
September was turning out to be a much stronger month compared to July and August even before the last update of the month.
On Monday, the U.S. Mint reported 3,375,000 sales for the month. 
Then this evening, I checked to see if they had updated their figures.. which they did in A BIG WAY.