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Is COMEX Being Cornered?
11-27-2014, 12:33 AM #1
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
I've been trying to follow this since August. Now Holter has a new analysis out

Is COMEX Being Cornered?

And it's certainly interesting (if you're into that sort of thing lol)

snip

Quote:For open interest to increase and the price to drop, the “initiation” to the opening of contracts has obviously been done by sellers. This is exactly what I have been saying all along, the dropping price has been dictated by paper sales of COMEX contracts …but now there is a problem. So much paper has been sold to dictate the price that the contracts outstanding simply dwarf the available metal to deliver. Put another way, COMEX gold and silver look like they have been cornered! Let me rephrase this, COMEX gold and silver are now “very cornerable.” We will know shortly if this is true and “who” did the cornering. I suspect we will find out that this has been a Chinese/Russian hand holding consortium and one that was carefully planned and done within legal bounds. I think we will find out they in fact did play by the West’s rules and it was the “sellers” of nonexistent metal who fell into their own price fixing trap.
11-27-2014, 12:46 AM #2
DaJavoo If looks could kilt
Posts:1,861 Threads:45 Joined:Mar 2011
Yeah the old ala Bernie M thing of buy low sell high non-existent product is coming home to roost ~ 'specially now that everyone wants to repatriate the shiny stuff.

China, Russia and India are gonna be the winners.
11-27-2014, 01:11 AM #3
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Comex is lying about what they have, and worse if they did have what they say they do, then expected deliveries are still 20x what they have available. If there's any substance to this, Comex may well default on Monday. The shorts are forcing prices down to first notice day which is Friday. I'd be surprised to see gold over $1200 before close, if so it'll be smashed down again and JPM is short silver to the trillions in futures. If it's Russia holding the majority of the contracts it's because they planned it this way. Also Netherlands got a heads up Monday. So did someone else who jumped queue and took delivery of 138,000 oz Nov 14.
11-27-2014, 01:40 AM #4
DaJavoo If looks could kilt
Posts:1,861 Threads:45 Joined:Mar 2011
(11-27-2014, 01:11 AM)Shadow Wrote:  Comex is lying about what they have, and worse if they did have what they say they do, then expected deliveries are still 20x what they have available. If there's any substance to this, Comex may well default on Monday. The shorts are forcing prices down to first notice day which is Friday. I'd be surprised to see gold over $1200 before close, if so it'll be smashed down again and JPM is short silver to the trillions in futures. If it's Russia holding the majority of the contracts it's because they planned it this way. Also Netherlands got a heads up Monday. So did someone else who jumped queue and took delivery of 138,000 oz Nov 14.

Technically, it's those who hold it in their hands who are the 'winners.'

I've long maintained it's all about maximum cash extraction and that the metals and stock markets are only strung up with paperclips and rubberbands as long as real wealth can be siphoned off. If, in fact, the goods have been delivered, the stock market will blow away with the wind from the COMEX collapse. It was all planned and has been on life support since 2007.

The global economy has been a walking corpse since then and really, there's not even a helluva lot of stink left ~ just the wailing and moaning.

There has been little rhyme or reason other than pure charade and Kabuki theatre since Lehman Bros. bit the dust in 2007.
11-27-2014, 01:45 AM #5
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
yup.gif the old Golden Rule. I still find it fascinating. Doesn't do me or anyone else any good, maybe it's my face crack.
11-27-2014, 02:24 AM #6
DaJavoo If looks could kilt
Posts:1,861 Threads:45 Joined:Mar 2011
Personally, I'm going long for the local economy since the global one has multiple forks sticking out of it.

Locally it will be barter and silver will be king. Gold will be nice, but it's collecting dust in hoards somewhere. Silver has been affordable for the peasants and will come to shine ~ that and moonshine and tools...not to mention tobacco products.
11-27-2014, 08:08 PM #7
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
A couple days ago this
Deutsche Bank's Modest Proposal To Central Banks: "Purchase The Gold Held By Private Households"

then this morning this
CITI's Dutch rep said "Gold is a fiat commodity currency (with insignificant intrinsic value)." and a 6,000 yeear old bubble.

So... they repatriate all the Dutch gold held in the US. Then say buying the couple ounces 5% of households have is a great idea, then go on to say gold has "insignificant intrinsic value".

rofl.gif
11-28-2014, 01:40 AM #8
DaJavoo If looks could kilt
Posts:1,861 Threads:45 Joined:Mar 2011
(11-27-2014, 08:08 PM)Shadow Wrote:  A couple days ago this
Deutsche Bank's Modest Proposal To Central Banks: "Purchase The Gold Held By Private Households"

then this morning this
CITI's Dutch rep said "Gold is a fiat commodity currency (with insignificant intrinsic value)." and a 6,000 yeear old bubble.

So... they repatriate all the Dutch gold held in the US. Then say buying the couple ounces 5% of households have is a great idea, then go on to say gold has "insignificant intrinsic value".

rofl.gif

They should stick to used cars.

İmage
11-28-2014, 11:20 AM #9
SpiritMasonChazz Member
Posts:975 Threads:102 Joined:Jun 2014
Paper always fails in history as a Fiat currency without a balanced backing.
Resources on hand will tip the scale in the holders benefit after the musical chairs stop and some will just have worthless paper sold over & over to the fools dancing with it .
11-28-2014, 11:55 AM #10
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,393 Threads:1,439 Joined:Feb 2011
(11-28-2014, 11:20 AM)SpiritMasonChazz Wrote:  Paper always fails in history as a Fiat currency without a balanced backing.

One of the few constants in history. Yet they do the same thing again and expect different results. blink.gif

wonder.gif



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