AuthorTopic: Gold & Silver News  (Read 429337 times)

Offline g

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Re: Gold & Silver News
« Reply #420 on: April 15, 2013, 11:20:20 AM »
]WHY, oh WHY doesn't ANYBODY want to admit that if PHYSICAL ownership was the only criteria for pricing PMs, this downward pressure would be IMPOSSIBLE in a the current currency debasing environment!!?
It's the NAKED SHORTING ON PAPER that is doing this, PERIOD!  :evil4:


From Standard Bank Gold report last friday labelled "Positioned for a Blood Bath:

Quote
Participants showed a reluctance to unwind short positions;
in fact, 1.1 tonnes were added (51.2 tonnes were added the
previous week). This brings total shorts to 267.7 tonnes,
more than 2.5x the 5-year average (106.7 tonnes) and
closing in on the 5-year high of 292.4 tonnes recorded in
mid-February of this year.

A paltry 7.8 tonnes were added to long positions; clearly, the
market was no where near confident in gold’s prospects for
further upside. This turned out to be prescient, as Friday
(not included in this data) saw a dramatic sell-off in gold
(and most other commodities), pushing it well below
$1,500/oz.

http://www.kitco.com/reports/

I will admit to it AG, it's obvious, Mr Kunstler  seems to think so too. How long they let these whores gang bang markets is any ones guess. They obviously haven't learned a thing from the great crash five years back.

Offline g

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Re: Gold & Silver News
« Reply #421 on: April 15, 2013, 11:28:01 AM »
Most all markets caving in now at 2:30 EST   Gold down 135 Silver down 2.60 Platinum down 80.00 Palladium down 45.00

Dow down  200 S&P down 28.00  Nasdaq off a whopping 60   Oil getting hammered as well. 

Not a pretty day for the bulls on anything so far.  :-\

Offline agelbert

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Re: Gold & Silver News
« Reply #422 on: April 15, 2013, 11:29:45 AM »
Quote
I will admit to it AG, it's obvious, Mr Kunstler  seems to think so too. How long they let these whores gang bang markets is any ones guess. They obviously haven't learned a thing from the great crash five years back.

GO,
Thank you for confirming my analysis. Kunstler is right BUT he refuses, like RE and others here, to get into the Black Scholes pricing formula that allows naked shorts into this crooked price discovery mechanism. This is BIG! This means the price on any God DAMNED THING CAN BE YANKED ASSBACKWARDS TO SUPPLY AND DEMAND JUST FOR THE PLEASURE OF TBTB AND OUR PAIN!  :emthdown:

This SUCKS!
Leges         Sine    Moribus      Vanae   
Faith,
if it has not works, is dead, being alone.

Offline g

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Re: Gold & Silver News
« Reply #423 on: April 15, 2013, 11:42:51 AM »
Quote
I will admit to it AG, it's obvious, Mr Kunstler  seems to think so too. How long they let these whores gang bang markets is any ones guess. They obviously haven't learned a thing from the great crash five years back.

Quote
GO,
Thank you for confirming my analysis. Kunstler is right BUT he refuses, like RE and others here, to get into the Black Scholes pricing formula that allows naked shorts into this crooked price discovery mechanism. This is BIG! This means the price on any God DAMNED THING CAN BE YANKED ASSBACKWARDS TO SUPPLY AND DEMAND JUST FOR THE PLEASURE OF TBTB AND OUR PAIN!  :emthdown:

They own the regulators AG, the corruption has seeped too far into the system. They are intoxicated with their power and the politicians kiss their ass for fear of angering them. OWS was our only hope and they took care of them in short order. Perhaps someday we will get a real leader in the White House, but that is just another dream too. No basis at all in reality. They give us two swine to pick from every four years, no one decent has a chance anymore.  :-[

This SUCKS!

Offline monsta666

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Re: Gold & Silver News
« Reply #424 on: April 15, 2013, 11:55:31 AM »
]WHY, oh WHY doesn't ANYBODY want to admit that if PHYSICAL ownership was the only criteria for pricing PMs, this downward pressure would be IMPOSSIBLE in a the current currency debasing environment!!?
It's the NAKED SHORTING ON PAPER that is doing this, PERIOD!  :evil4:

One word for you. GREED. Same reason why shorting (which I would say is an ethically questionable activity to engage in) and even naked shorts is continued to be allowed. You can't take prevent the pigs from having their morning grub so people turn a blind eye. This same greed has a way of making people blind or in this case forgetful. I am staggered how people in England cheer when house prices rise and the number of mortgages made are increasing when it was precisely those things that caused the financial crisis!!! And it is not just idiots who advocate this nonsense but well educated people too! It times like this when I just scratch my head. :icon_scratch:

As for the dodgy gold market it is my understanding that even though the price of gold has declined on the whole banks have been buying more and more gold on the market and have increased their market share (at least this was the implication from the slogger article). If true that would mean the banks could have even greater powers to manipulate gold prices even further in the future. In any case a true gold bug does not trade his physical gold early for a quick buck but sees it as a long-term investment so this should not hurt the gold bugs who are genuinely in it for the long game. I do think there will be a rally in the future and people who have big gold positions should not panic.

Offline Eddie

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Re: Gold & Silver News
« Reply #425 on: April 15, 2013, 12:10:59 PM »
WHY, oh WHY doesn't ANYBODY want to admit that if PHYSICAL ownership was the only criteria for pricing PMs, this downward pressure would be IMPOSSIBLE in a the current currency debasing environment!!?
It's the NAKED SHORTING ON PAPER that is doing this, PERIOD!  :evil4:


Agree. But it's supported at the highest level of government, and the regulators are owned outright by the banks.

As assets of all kinds deflate, the winner may be the USD for the short run. In the event of a stock market collapse correction of say 50%, then I would be a buyer of gold and silver again. Metals would recover much faster than stocks, and as you say, GO, they always retain value.

After a major deflationary event that was actually adequate for a banking reset, then gold would surely soon find its real price, whatever that turns out to be.

Stackers never need worry about such things. I strongly advocate for holding some physical metals in every case. I would never recommend anyone sell ANY physical gold as long as they can meet their day to today needs and still have enough cash flow to make their regular monthly obligations.
What makes the desert beautiful is that somewhere it hides a well.

Offline DoomerSupport

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Re: Gold & Silver News
« Reply #426 on: April 15, 2013, 01:11:53 PM »
I'm heading to the coin store on my lunch break.   :coffee:

Hopefully to buy Haniel, looks like a great entry point. Figure the Comex will raise margins, blaming the move on the volatility and that will be it; but who knows. The fiat crowd with their options, futures, leverage etc have turned all the markets into a gambling den in  the short term.  Posting an article on Gold and the stench of the smackdown by J H Kunstler, you might find it interesting. Will be up in a moment.

They had no gold coins for sale.. I'm guessing they don't want to sell in the dip.  Will call me when they have some for sale.   :-\


Offline g

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Re: Gold & Silver News
« Reply #427 on: April 15, 2013, 01:14:03 PM »
Quote
They had no gold coins for sale.. I'm guessing they don't want to sell in the dip.  Will call me when they have some for sale.   :-\

Just curious Haniel, same for silver coins?

Offline agelbert

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Re: Gold & Silver News
« Reply #428 on: April 15, 2013, 01:34:49 PM »

monsta666, Eddie and GO,
Yep. IF the price discovery mechanism was akin to put and call options where nobody has physical (unless they take delivery which hardly anybody ever does), THEN you would have a level playing field on the long and short side. But SOMEBODY always owns the commodity/PM so the owners get screwed by leveraged shorting.

Consider that a short, in theory (:evil4:  :evil6:) must BORROW the physical BEFORE the short. But when you can claim humongous amounts of the physical as if it had been BORROWED by CB supported naked short massive leverage, the price is pushed down. What a scam!

And let me add that when that happens, it's like pulling teeth to actually acquire physical because the coin dealer suppliers are probably in on the scam (I'm certain the "temporary" unavaillability of certain coins during the bogus price drop is no accident  :icon_mrgreen:).

And now look what happened with the Boston Marathon that underscores the high level coordination of the PM price crushing push.

Geesh! Talk about the fix being in! After that Boston Marathon attack the PM prices should have jumped and then rocketed up when the short covering rocket fuel comes in.

But no, they are bound and determined to ignore everything real just to keep the PM price down.

The fix is IN. Have a nice day...:evil3: 
Leges         Sine    Moribus      Vanae   
Faith,
if it has not works, is dead, being alone.

Offline Petty Tyrant

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Re: Gold & Silver News
« Reply #429 on: April 15, 2013, 05:21:33 PM »
Are you saying at this coin shop you dont need to provide your name and adress, just cash no questions asked and at the proper market weight/$? I have only seen coins in the post office to buy with no ID, all fancy encased and costing about double the proper price per oz.

the long waits and lack of physical availability was predicted, I dont think its a scam necessarily. perth mint, had the same thing a few months back apparently because of chinese ownership of the gold mines and taking the gold there.
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Offline monsta666

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Re: Gold & Silver News
« Reply #430 on: April 15, 2013, 06:00:49 PM »
If the Japanese markets are anything to go by then tomorrow will be another hectic day in the gold market... If current trends continue we could well see gold dropping below $1300.

------------------------

All Abe-Inspired "Gold-In-JPY" Buyers Now Underwater

Submitted by Tyler Durden on 04/15/2013 20:31 -0400

Japan is opening ugly - the commodity rout continues with rubber, gold ($1325), and copper all down hard and stocks also being hit as liquidations continue. JGBs are modestly bid 1-2bps (though fading). JPY's bounce off the after-hours spike is fading...

JPY was its strongest at the start of October - and then the new Abenomics plan began. Very quickly the "long of gold in JPY terms" trade became extremely popular. After an impressive 16.4% rise into mid-February, gold-in-JPY corrected modestly; but the BoJ-inspired action smashed gold-in-JPY back up to its recent highs (helped by the seeming capitulation is JPY longs on the bigger-than-expected QQE). This appears to be the last straw on this trade. With JPY shorts so extremely positioned, the small rally on Thursday/Friday in JPY sent many scrambling to cover and, along with the need to unwind any and every asset to cover cash needs for JGB volatility, the avalanche began in gold-in-JPY. In 2 days, the entire Abe-inspired 'rally' in gold-in-JPY has been undone and all post-Abe buyers are now underwater. Whether this marks a short-term capitulation of these positions is unclear but CTFC CoT this week will be intriguing - and further JGB vol will not help. The rally in JPY of the last two days is the largest in 35 months - so someone clearly broke something...

Gold in JPY has retraced all its post-Abe gains...



It would appear that it is no longer moving from the lower left to the upper right...

and JPY is rallying faster than it has in 35 months...



and Gold is plunging on the Japanese open (as margin calls flush a few more out)...



Japanese interest rate volatility is surging higher and gold is being sold to match it still (as we discussed here)...



Something broke when the BoJ went full retard...

Offline agelbert

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Re: Gold & Silver News
« Reply #431 on: April 15, 2013, 06:36:52 PM »
This from Colorado Gold Bullion dealer

Substantial delays on most silver products. Silver Eagle premiums just increased to $3.50!  :evil4:


WE ARE SORRY FOR OUR LIMITED SUPPLY OF PRODUCTS, BUT THE DEMAND IS SO HIGH THAT MANUFACTURERS CANNOT KEEP UP!
  :icon_mrgreen:


http://www.coloradogold.com/

Isn't that an AMAZING "coincidence" that when PMs are SO CHEAP, it's hard to get physical... WTF!!? I thought, DUH, that "everybody" was Dumpin' PMs! Nah, there's no scam going on...Not at ALL :evil6:

Leges         Sine    Moribus      Vanae   
Faith,
if it has not works, is dead, being alone.

Offline Petty Tyrant

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Re: Gold & Silver News
« Reply #432 on: April 15, 2013, 06:59:52 PM »
This from Colorado Gold Bullion dealer

Substantial delays on most silver products. Silver Eagle premiums just increased to $3.50!  :evil4:


WE ARE SORRY FOR OUR LIMITED SUPPLY OF PRODUCTS, BUT THE DEMAND IS SO HIGH THAT MANUFACTURERS CANNOT KEEP UP!
  :icon_mrgreen:


http://www.coloradogold.com/

Isn't that an AMAZING "coincidence" that when PMs are SO CHEAP, it's hard to get physical... WTF!!? I thought, DUH, that "everybody" was Dumpin' PMs! Nah, there's no scam going on...Not at ALL :evil6:

AG If people like you and haniel are suddenly rushing to buy coins  dont you think many other people also are and got there first? Was there not already a waiting period before the recent dive? The DUMPING is only dumping of futures gold not yet dug up, even I know that. The world of the gold bug and the world of the CB's and pigmen are not the same. Plus the chinese now own the gold mines in africa, australia, asia and south america. They have stocked 2000 tons and are stocking another 2000 to take over reserve currency status. They are simply taking most of it home.
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Offline RE

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Kunstler-Elvis Podcast on Gold Smackdown?
« Reply #433 on: April 16, 2013, 12:23:06 AM »
Kunstler asked Elvis to join him in a Podcast.  No indication yet from Elvis if he will accept the Invite.  Should be entertaining if he does.

RE
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Offline g

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Re: Gold & Silver News: Rise of the PetroYuan
« Reply #434 on: April 16, 2013, 04:08:51 AM »

How the Chinese currency is replacing the U.S. Dollar in global oil markets

History is being written in the East. As the U.S. stays distracted with stone age warriors in Central Asia and the Middle East, the last platform of the American economic foundation, the U.S. Dollar's currency reserve status, is being underminded by their trade partners in Asia. Both Australia and Japan are set to start direct-trading in Chinese currency and they are not the only ones. There are almost 20 countries whom have currency swaps in place with China all in order to side-step the U.S. Dollar in global trade. At the China Money Report, we have written extensively on the "Rise of the Renminbi". What is new and largely unreported and what we will cover in this article is the "Rise of the Petroyuan," as China is now converting its oil imports into Chinese Yuan as opposed to U.S. Dollars. This will be a new challenge and possibly the fatal blow to the U.S. Dollar as the dominant global reserve currency.

With their industrial base all but gone, the housing market bubble popped, and the Federal Resereve funding the majority of the government debt with printed currency, the American economy can ill-afford a new challenge to its currency's reserve status. It is this very reserve status which has led to America being able to consume more than it produces for decades upon decades as foriegn countries were willing to trade consumer products for paper IOU's. The Dollar's reserve status came about naturally after WW2 as the U.S. was the world's larget trading nation, exporter, and creditor. Today, China occuppies all of these slots.

China will soon occupy a new slot: That of the world's largest oil importer. OPEC has confirmed on April 4th of this year that they expect China to surpass the United States as the world's largest oil importer in 2014. This shift in global oil flows is being driven by the twin pillars of a booming Chinese economy and America’s newfound booming domestic oil and gas supply. This shift in the oil trade carries with it massive geopolitical implications that will reshape the world as we know it.
China’s Increasing Oil Imports

The demand side of oil from China has already reshaped geopolitics and global supply chains. Between 2002 and 2010, China's annual imports of crude increased from 70m tonnes to more than 270 million tonnes. Saudi Arabia’s largest customer for oil is no longer the U.S. but the Peoples Republic of China. In the year 2012, China’s net oil imports were still 1 million barrels per day lower than in the United States, but in some months, China was very close and even surpassed the U.S. in net oil imports. In December 2012 for instance, China imported 6 million barrels a day compared to only 5.98 million barrels in the U.S. From 2010-2015 alone, oil imports in China are expected to grow over 40%. China's oil demand growth is expected to represent 64% of all new demand for oil in 2012-2013.

The upside potential of oil imports into China are still not understood by most analysts and the potential on how large they could become is incredible. Car sales in China are already almost twice the levels in the U.S. and sales are up 20% for the first two months of 2013. Keep in mind that 90% of car sales are paid cash-up-front and most large cities have prohibitive taxes and quotas against new car sales. Despite these regulations, sales are still up 20% so far in 2013. All of these new cars and trucks will of course require more oil that China will need to import. General Motors already sells more vehicles in China than they do the United States and their sales are growing double-digits.

China's increasing dependence on imported oil has threatened the country's energy security and it is of major concern to the government. China’s oil dependence is expected to reach 59.4 percent in 2013. Be assured, China is building a blue-water navy and developing the global relationships, which will be required to protect this supply of crude they require today and the ever increasing amount they will need in the future. Indeed, the country of China may be forced into becoming the reluctant miltary superpower to guarantee that they have access to global oil markets.
Americans Turning Off Oil Imports

In comparison to China, the US reliance on foreign energy imports has declined considerably, and many are predicting that the US could be energy self-sufficient by 2030 thanks to its surging domestic production of shale gas and oil. The US is now expected to be a gas exporter by 2020 instead of the previously projected 2022. Domestic oil supplies as well as Canadian supplies will make North America energy independent. This is good news for the U.S. and this new found wealth could be used for a new platform for a revitalized American economy if they can substianlly restructure the tax and legal system which has driven production out of the country.
Trading Oil for Yuan

Recent reports from Reuters, have confirmed that China is now trading their own domestic currency, the Yuan, for oil. Both Russia, and Iran are now using Yuan for oil sales to China. Venezuela is sure to follow. With Russia and Iran accepting Yuan for oil that means there are now almost 1 million barrels per day being exchanged for Yuan instead of USD. Angola can be expected to move oil sales into Chinese Yuan if they haven't already. Over half of their oil sales are now to China. For Venezuela, the political relationship with the U.S. is well known as fear of the U.S. military might be the only thing stopping them from shifting oil sales into Yuan now. Sudan is another country, highly dependent on China politically and will most likely convert their oil sales into Chinese Yuan.

If Russia, Iran, Angola, Sudan, and Venezuela all convert just their oil sales to China into the Chinese Yuan the world will see over 5 million barrels per day traded not in U.S. dollars but in Chinese Yuan. Good night Petro Dollar...Hello Petro Yuan.
Geopolitical Shift and Rise of the Petro Yuan

Does China, as the world’s largest importer of oil then take charge of global sea lanes to ensure the trade in oil? This has been a priority of the U.S. military for the last 50 years. The Pentagon is spending $1.58 trillion annually on hardware for trucks, planes, ships, and guns. In 2013, their cost increase alone was $74 billion. The cost increases this year alone, of $74 billion, is more than Russia’s entire military budget. Can America justify a defense budget of this size to protect sea lines for Saudi crude going to China?

What about the so called “King Dollar”? For decades you could trade oil for dollars. This relationship has gone a long way towards making the U.S. dollar the world’s reserve currency. What happens when the U.S. no longer needs to buy imported oil. As time goes on, the oils futures markets will no doubt shift more to Dubai and Dalian, than West Texas and Brent Crude. In decades past, America's thirst for energy imports resulted in all oil contracts being denominated in U.S. Dollars, the so-called Petro Dollar. The Petro Dollar is now headed for extinction to make way for the Petro Yuan.

We are all witnessing the birth pangs of a new global reserve currency and the "Rise of the Petro Yuan".

 

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