Where's The Tylenol?
So I try to have a "normal" day. The kind I enjoyed pre-Turd. Took MrsF and LT#2 to an amusement park and had a few laughs. After dinner, I spent about 45 minutes talking to MamaFerg, getting caught up.
Then I think to myself..."Self, you should down to your office and get a few things in order before the morning". I open up the creaky, old MacBook and....
This is comical to the point of being absurd. That this has been allowed to happen is breathtaking in its audacity. One day soon I hope to see the bullion bankers and their CFTC accomplices held accountable for their actions. That may seem tonight like the quixotic fantasy of a hopeless dreamer. Perhaps it is. I don't know.
What I do know is this: Right now, right this very instant, bullion bank traders are gleefully lapping up the paper metal being created and sold by the greedy spec shorts and the pathetically-crushed spec longs. As I type, I have no doubt that by sometime later tonight or Monday, the commercial category in silver will move to net long, perhaps even substantially so. The Gold Cartel has likely seen it's net short position fall to the lowest ever recorded. Maybe even to 1.5:1 or further. And how many of you have consistently said: Boyohboy, if/when the time ever comes that The Silver Cartel is net long, THEN THAT'S THE TIME TO BUY!
Well, it's happening right here and right now, in real time. Look, I obviously don't want anyone out there trying to trade this nonsense. I've cautioned everyone against trading for what, 18 months now? How ever long it is back to the MFG collapse & theft. People have asked me why I'm so light-hearted about this. Mainly it's because I don't have any skin in the game. Well, I guess I do...I have 3 July silver calls that cost me a whopping $800 or so. Big whoop. My stack of metal looks just fine (through the underwater camera) and I plan to add to it again tomorrow...should I actually be able to lay my hands on some physical. None of this changes the long-term plan and role of precious metal in the future global currency regime. And none of this causes me to question the role that gold and silver are playing in protecting my personal financial well-being from the destructive powers of the central banks and the central planners.
Soon, this craziness will reverse in breathtaking fashion and price will rebound nearly as quickly as it has collapsed. Of that, I'm 100% certain. Shanghai and London are going to see record physical days on Monday and that real metal will shortly have affect a dramatic turnaround in price. In the meantime, try to keep your wits about you tonight and enjoy the fireworks. If you're not on margin, what's the big deal? Just kick back and enjoy the show.
Time for some sleep. See you Monday. Gee, I wonder what the price of gold and silver will be then???