IMF or CHAOS: Ed Steer & Dave Janda

This past week we highlighted the western led precious metal price containment scheme with two specific long term data driven price charts (LBMA gold and NY silver price discrepancies vs the East).

Below you can hear Dr. Dave Janda interview Ed Steer on the who’s, why’s, how’s, and ongoings in the physical gold and silver world. All ongoing, underneath the derivative driven gold price discovery and silver price discovery mechanisms still in usage today.

This discussion gets in depth at about the 5 minute mark. They discuss record velocities of physical COMEX in and out deliveries of physical bullion (i.e. see the COMEX gold silver customer vs house account delivery breakdown from 2011 to now in 2018).



Around the 16 minute mark discussed is Trump boxing in the Federal Reserve over their driving interest rates higher at the potential expense of the nominally high priced US stock market.

At about the 19 minute mark, touched upon is the coming reaction by government central banks in the next financial recession and potential debt crisis.

Larger Question: which Ed thinks won’t happen due to devaluing central bank credibility and balance sheets, hence his IMF or Chaos call.

Will the Federal Reserve blow out its balance sheet to $8 trillion USD as some macro economic names are on record stating they indeed will?

COMEX Gold Silver House vs Customer Accounts

Below is the COMEX customer vs house physical gold and silver bullion deliveries since 2011.

Interesting to note that the Bank of Nova Scotia (aka ScotiaBank) has been only dealing in its house account over this entire timeframe.

After failing to sell their precious metal trading desk, and recently also fined for spoofing precious metal trades, the entity recently claimed it will halve their precious metal derivative trading and lending division.

COMEX Gold Delivery

Customer vs House Accounts 2011-2018

302,243 COMEX Gold futures contracts equates to 30,224,300 oz or just over 940 tonnes of physical gold bullion delivered to these entities.

COMEX Silver Delivery

Customer vs House Accounts 2011-2018

144,310 COMEX Silver futures contracts equates to 721,550,000 oz or just over 22,443 tonnes of physical silver bullion delivered to these entities.



Default or Inflate Away? Gold Lays in Wait to Gain in Value


BIG PICTURE: the COMEX may mostly determine Gold Spot prices today.

Physical gold flows are dominated by China.


JP Morgan keeps Stacking Silver in their COMEX Warehouse

Perhaps we can now deduce how much silver JP Morgan has within their COMEX House Account