Just A Snippet

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During today's A2A, I asked David Morgan to address once again the idea that someone can just go to The Comex and take delivery of several thousand contracts in order to "break" the exchange.

This snippet is about 8 minutes long. I thought I would share it with everyone because it should help clear up the misconception that The Comex can be broken by any entity with deep enough pockets to pull it off. As a lifelong silver investor, David's insights on this matter are invaluable.

The full A2A recording is available to Vault subscribers. You can become one by clicking here:

http://www.tfmetalsreport.com/subscribe

The plan is to host at least one of these "Access To Access" webinars each week, where subscribers get to ask questions directly to some of the biggest names in the metals industry. The majority of the subscriber feedback thus far has been positive toward this fun and informative format.

TF


47 Comments

Bollocks's picture

first!

What goes up ...

1st Amendment (amended 1913 - 2013)

Congress shall make any laws respecting an establishment of religion or other, prohibiting the free exercise thereof; remove the freedom of speech, and of the press; and remove the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

¤'s picture

2/3 of worlds adult populace has less then $10,000

World likely to have 11 trillionaires within two generations: Credit Suisse

October 9, 2013, 2:17 PM

In the past year, aggregate global household wealth increased by 4.9% to reach $241 trillion, a sign that even as the tepid economic recovery plays out, households are still accumulating wealth.  And that number is poised to grow over the next five years by 40%, reaching $334 trillion, according to Credit Suisse’s annual Global Wealth Report, out Wednesday.

Here’s what the distribution of that wealth looks like in pyramid form:

Credit Suisse

It’s pretty disconcerting to see over two-thirds of the world’s adults have wealth of less than $10,000, while the wealthiest 0.7% hold 41% of the world’s wealth.

But there are some heartening signs in the report. One suggests that some measures of mobility are high. Future projections of growth rates based on historical averages show that the fraction in the bottom category of wealth will fall steadily over a 60-year time-frame. After the first 30 years, the number of people currently at the bottom will be cut nearly in half. The authors write:

“Two generations ahead, future extrapolation of current wealth growth rates yields almost a billion millionaires, equivalent to 20% of the total adult population. If this scenario unfolds, then billionaires will be commonplace, and there is likely to be a few trillionaires too – eleven according to our best estimate.”

Here’s what it looks like in colorful chart form:

Credit Suisse

Wealth mobility within the period works the other way as well. The top 100 billionaires in the Forbes billionaire list in any given year tends to fall in consecutive years, the authors found. So, for example, of the top 100 billionaires on the list in 2001, only 37 remain. It’s a small sample size that hinges on a number of factors, but it goes to show that just because you’re perched on the top of the pyramid doesn’t mean you’ll stay there.

This chart shows the trajectory:

Credit Suisse

– Ben Eisen

marketwatch.com

Kcap's picture

Dear Cartel:

We're waiting. 

Bring the price down again.  Make your last DESPERATE attempt to kill the psychology of the market very clear for ALL to see.  We'll ALL just buy more.

Thank you,

Kcap

Bongo Jim's picture

That's

Gonna leave a mark, Bollocks.

fraxinus's picture

What is "National Security", Alex?

If the Chinese view strategic metals as instruments of economic warfare, they are probably accumulating gold at a rate far above 2000 tons a year. Their commanding stockpiles of other metals are well-known. And the long-running pricing charade at the Comex is precisely the tool that makes the Chinese strategy cheap and easy, and guarantees its success. I can't imagine why this doesn't concern Western governments: it will soon. 

Mr. Fix's picture

6th,..."On The Path To Default"

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/10_Chilling_Truth_About_What_Will_Happen_When_The_US_Implodes.html

"One day the US will start to see inflation pick up, and then inflation will start to take on a life of its own.  As store owners start to anticipate the inflation, they begin marking up their prices in anticipation.  Prices change week-to-week, and eventually day-to-day.  This is how the panic begins.  Inflation then begins to really surge.  We will see a lot of changes as prices begin to soar, but most importantly people’s quality of life will be deteriorating.” 

 
Turd Ferguson's picture

This is excellent

MODERATOR
Mr. Fix's picture

It is shaping up to be an interesting weekend…

http://www.infowars.com/report-feds-order-national-guard-to-close-i-495-to-derail-trucker-protest/

“Since Interstate 495 is clearly a federal roadway,” report our DOT sources, and “the federal government is now closed because of the crazy House of Representatives Republicans, it is within the purview of the federal government to add it to the list of government properties that are closed and may not be used by citizens,” claims Ryt adding that the I-95 and I-66 in Northern Virginia could also be closed.

I don't think I'm going to far out on a limb here by stating that Barack Hussein Obama is now in the process of imposing his beloved  police state, he's not even going to wait for the so-called "debt ceiling" to be  hit.

 
achmachat's picture

Smart Man!

I especially loved his last three words!

in a picture:

Turd Ferguson's picture

To that end

MODERATOR

Somebody linked this yesterday. Interesting...

Bugzy's picture

Strange don't you think

Wealth, including roads etc, were only built via the labour of Americans. Paid for by the donations (of taxes) to the government, for government (of and for the people) to spend on behalf of the people; to make their (peoples) roads. Peoples roads.

What is this talk that these parks and roads and stuff BELONG to government and that government, when deprived of currency, can, with the use of force, prevent the people from using that which they have already paid for by the sweat of his brow!

This is NOTHING less than MARTIAL LAW LIGHT. The government owns nothing, it never earned anything, it operates only by the behest of the people to to their bidding.

WAKE UP!

Turd Ferguson's picture

And along those same lines...

MODERATOR
Response to: To that end
Nigel Black's picture

Another US military commander sacked

TrendingLeafs | Ottawa | Syria | Freemen | BlackBerry | NFL | Lotto 6/49 numbers | Marois | Trudeau | Concordia

Navy admiral fired as deputy chief of nuclear command over counterfeit chips gambling scandal

The deputy commander of U.S. nuclear forces, Vice Adm. Tim Giardina, was notified Wednesday that he has been relieved of duty amid a military investigation.
The deputy commander of U.S. nuclear forces, Vice Adm. Tim Giardina, was notified Wednesday that he has been relieved of duty amid a military investigation.

WASHINGTON — The deputy commander of U.S. nuclear forces, Vice Adm. Tim Giardina, was notified Wednesday that he has been relieved of duty amid a military investigation of allegations that he used counterfeit chips at an Iowa casino, the Navy said.

The move is exceedingly rare and perhaps unprecedented in the history of U.S. Strategic Command, which is responsible for all American nuclear warfighting forces, including nuclear-armed submarines, bombers and land-based missiles.

The Navy’s top spokesman, Rear Adm. John Kirby, said Giardina, who had held the job since December 2011, is being reassigned to the Navy staff pending the outcome of the probe by the Naval Criminal Investigative Service. The gambling matter originated as a local law enforcement investigation in Iowa in June.

http://news.nationalpost.com/2013/10/10/navy-admiral-fired-as-deputy-chief-of-nuclear-command-over-counterfeit-chips-gambling-scandal/

Bugzy's picture

Medicne

I posted this at the end of the last thread. I have brought it forward because I believe it highlights some aspects about state run control which often go unheard.

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

I live in Canada and am originally from the UK. I became quite ill some years ago and they could not figure out what it was.

I eventually figured it out. Lyme disease with two co infections. (from a tick bite).

Now there is a problem: The infectious disease society of america (IDSA) writes the guidelines for Lyme diagnosis and treatment. You have to get a positive on a really suspect test or have a particular rash - even then you only get 1 month of antibiotics max.

So.... in BC Canada (as in all of Canada) there are literally thousands who cannot get a diagnosis. This means that no matter what, you will not be given ANY treatment for this bacterial infection. It does not matter if you are poor or have millions to spend. THEY control whether you live or die. Many Canadians have to go to the US (fleeing persecution) to get the treatment they need. They can do this in the US because they sign a waiver not to bill insurance companies and then pay out of pocket; privately.

The UK is the same as Canada. It would seem that they who provide your total care can deny you any care. A bit like rights (Carling again) if they can be taken away they are merely privileges.

This is a first hand account of complete centralized control.

There are only about 6 "confirmed" cases of Lyme in BC per year. Yet the US CDC has just announced that there are over 300,000 cases per year in the US. Yet BC has felt the need to start up a specific Lyme clinic. (hint, not for just 6 people who are definitely  cured within a month). And get this... they are NOT allowed to treat Lyme with antibiotics. No,,,guided meditation and pacing and CBT. This is because ALL doctors must belong to the college of physicians and surgeons and THEY will remove the license from any Doc who treats Lyme. So for those without money - this socialized medicine is nothing more than a death camp. (not just Lyme).

Hence my early trip down the rabbit hole. I was forced to take the red pill before the economic crisis. That is why Atlas shrugged rang a chord. I detest total control.

Addition: The IDSA somehow dictates policy to USA, Canada, UK (interestingly not Scotland), Australia. How is it that one group of very powerful (corrupt) medicine policy insiders can dictate how any disease ought to be treated in many English speaking countries in several continents, affecting 100's of millions of people and effectively blocking life saving antibiotics (which are handed out like candy for teenage acne)? One thing is for certain, this powerful group were NOT democratically elected. Nor, it seems, can they be brought to task.

Yet the mafia (tax man) still taps my pocket every month and demands his protection money (for ALL encompassing health care) and yet does not deliver on his promises. Resist the mafia and violence will be used against me. (court and fine.jail).

Man needs the right to be able to opt out if they fail to deliver. I have needed to spend well over $100,000, in another country, on my own treatment while still paying the Mafia here. I am one of the lucky ones, a saver of capital.

silver66's picture

Nigel Black--admiral fired

Thanks for the post.

Remember the issue is never the issue.

Silver66

Nigel Black's picture

@silver66

"Remember the issue is never the issue."

Of course. 

I find it *interesting* that so many high ranking US military officials have either been sacked or resigned in the past 10 months.

Or, maybe not...

achmachat's picture

They're getting more effective!

This time it took them a little bit less than 6 minutes from first signal to actual take-down!

Bollocks's picture

achmachat

signal?

achmachat's picture

yes. signal.

for (almost) all the raids that I have watched in the last three years, usually ten minutes beforehand, there's sell orders of around 15-20 cents under current spot in a very regular interval of around 2 minutes.  (those sell orders are to the third decimal identical).

Usually there's 4 or 5 of these (hence the ten minutes warning) and then there's a waterfall.

Bollocks's picture

thanks

very interesting wink

achmachat's picture

interesting, yes...

I would make use of it if Ms. Achmachat still allowed me to have a trading account. But to me it's just 100% proof that the price we are currently seeing is absolutely phantasy mark-to-unicorn stuff!

Buy the discounted real thing, be patient and be right ;-)

Mr. Fix's picture

A signal!

That sounds like an incredibly valuable piece of knowledge you have there,

how many of us could have used a 10 min. warning before the waterfall?

Would've saved me thousands.

zman's picture

Gold at $1284

Just horrible action today, does anyone feel like a massive decline to test the recent lows is coming in short order?

Not good, all signs point to lower prices. (miners, silver, ect.)

achmachat's picture

algo off

for the first time in more than an hour the "signal" hasn't appeared in more than 6 minutes.

From now on, the algo will let humans decide if it continues down or goes up. (usually it will be flat).

edit: scratch that! After 15 minutes it's back!

five sell orders around 10 cents under current spot, precise to the third decimal. Each around 2 minutes apart.

Algo is on, now let's see if it can induce another waterfall or if support got too strong here.

algo back off. Too much demand at this point. Good sign.

Magpie's picture

Mr. Fix, yer gonna luv this!

Obama's deadpool:

http://www.nachumlist.com/deadpool.htm

And, be sure to click on the top link about Breitbart's death, too.

(FWIW, I never know what to believe, or not believe when it comes to stuff like this, but some of it certainly seems plausible.)

Nana's picture

Breaker 1-9, We Got A Convoy

The kens, petes, cab overs, reefers, flats, box vans, straight vans, etc. are rolling from Alaska, California, east cost, west coast, north, south and midwest, converging in mass with their 20 being DC. 10,000 expected so far and the number keeps climbing. Along are coming bikers, vets and many others. This is going to be historic.

Many road jocky's who can't make the 20 are shutting down, pulling the keys and parking in solidarity.

I would love to be riding in the cradle but no can go, so I will do my part here.

Be part of it even if you are not there, do not spend one dime Friday, Saturday, Sunday. Shut down your spending in support.

Write T2SDA (Truckers to shut down America) on your car, hold a sign on the overpass. The is a call to all patriots.......

Coverage at the link below.

http://ridefortheconstitution.org/

Turd Ferguson's picture

LOVED this song as a kid

MODERATOR

For Nana and all the great Americans converging on DC:

 

Bugzy's picture

British version

SteveW's picture

I-495 Beltway closure

So what difference does it make if I-495 is closed by truckers or by the National Guard? Perhaps truckers will be able to close the Beltway by threat alone and allowing the Guard to do the heavy lifting.

Bollocks's picture

goddamn criminals!

lock 'em up, I say angry.

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