IF

496
Fri, Apr 26, 2013 - 5:36pm

If the CoT is true and accurate...and I have always thought it to be...then there can be no doubt that we are on the verge of major fiat-conversion price rallies in both metals, perhaps even something more dramatic.

(By "on the verge", I DO NOT mean "starting Monday". That is not what CoT analysis is all about. CoT analysis simply tells us how the sides are aligning and preparing for the next major move.)

I simply cannot stress enough how unusual and extraordinary this data is, particularly in silver. I gasped when I saw it. It is breathtaking...and you know I try very hard to avoid hyperbole. Let's get to it.

GOLD

For the reporting week of 4/17 thru 4/23, gold was up about $21. Total open interest increased by 2,000 contracts. Sounds nice and simple...perhaps even mundane and boring. WRONG!

This week, AFTER gold had already fallen over $200, we saw these changes:

  • The Large Specs sold 7,500 longs and initiated 17,100 new shorts for a net long reduction of 24,600 contracts. They are now net long at a ratio of just 2.12:1.
  • The Small Specs sold 5,900 of heir longs and began 7,000 new shorts. This net long reduction of 12,900 contracts leaves them flat. Long 39,868 and short 39,735.
  • The Gold Cartel utilized all of this Spec selling to buy 11,600 new longs and cover an amazing 25,900 existing shorts. This is a net short reduction of 37,500 contracts and leaves their net short ratio at a must-be-seen-to-be-believed 1.67:1.
  • Clearly, The Gold Cartel Bullion Banks have used the occasion of the $240 selloff in paper price to aggressively cover shorts and add longs. Which side do you think will profit from these changes? The Specs now nearly crowded into the short side (the SmallSpecs are net neutral, for Pete's sake!) OR The Cartel?

    SILVER

    Oh my goodness gracious, I really don't know what to say about the CoT picture in silver. There is now NO DOUBT that the oft-mentioned "Civil War" in silver, where the entire commercial category rises up and takes on JPM, is ON! It's happening right now, in real time.

    I was amazed last week that the silver commercials, who had openly challenged JPM by building a gross long position in excess of 60,000 contracts, had not been forced out of the long side by the $5 drop and the attendant margin hikes. You'll recall that last week, the Comm longs added contracts, instead. Not a lot but who cares? Just the simple fact that they didn't capitulate was HUGE. And now get a load of the action from this week:

    • The Large Specs sold 884 longs and added 1,713 new shorts for a net long reduction of 2,597 and a new net long ratio of just 1.63:1.
    • The Small Specs did the same. They dumped 1,895 longs and added 842 new shorts. Just like the gold Small Specs, the silver Small Specs are nearly neutral at long 20,782 and short 18,619.
    • Now, hold onto your hat. The Commercials in silver...this is the everybody but JPM crowd...added 6,617 new longs this week. Yes, that's right. After the brutal and malicious beatdown, not only didn't the CommLongs sell, they increased their gross position by over 10%! They are now long a could-it-be-a-misprint 68,258 contracts. This is unbelievable and, literally, twice the size of their historical average position. Because the other commercials were such heavy buyers, JPM and their two pals actually had to add shorts this week. ADD! At $23! The shorts now total 85,422 and the all-important Silver Cartel net short ratio has fallen all the way to a preposterously bullish 1.25:1.

    Look. I don't want to be over-dramatic here. However, I simply can't overstate how remarkable this is. There are some VERY COMMITTED, VERY DEEP POCKETS who are directly challenging the long-standing status quo in the silver pit. The questions are:

    • Why now?
    • What do they know? AND
    • What are they expecting next?

    Chew on that over the weekend and come back Monday with your game face on. Things are about to get very, very interesting.

    TF

    About the Author

    Founder
    turd [at] tfmetalsreport [dot] com ()

      496 Comments

    AlexCojones
    Apr 28, 2013 - 3:38pm

    Jake Blues Advice Taken

    You do good investigative work.

    Buying Numi-Grade Junk Silver, if at all possible, is one that I think we all try to do. Given the choice between a slick Barber half or a near Unc Frankin, Most of us would choose the Benny.

    At the LCS last week, I saw some poor grade silver dollars, G to VG with a few VF, selling for $28 each. Uncirculated 2013 Eagles sold for $28 and change. Which would you choose? Junk dimes and quarters were selling (then) at $18. 50 for a dollar face. I think that is around $1.25 over melt value (@ $17.30).

    Sometimes junk is the second choice to Choice bullion.

    Keep up the good work!

    Alex

    John Galt
    Apr 28, 2013 - 3:45pm

    Apparently, 92% of Cypriots

    Apparently, 92% of Cypriots do not trust central bankers according to this latest ZeroHedge article:

    https://www.zerohedge.com/news/2013-04-28/one-month-later-what-cyprus-th...

    Just to be clear about what little difference this makes, let's look at the chain of command:

    Central banks control government;

    Government controls military and police forces;

    Military and police forces control the population;

    Therefore, population obeys central bankers.

    Any questions?

    tyberious
    Apr 28, 2013 - 3:46pm

    Alasdair Macleod- What COMEX

    Alasdair Macleod- What COMEX Default?

    https://www.youtube.com/watch?feature=player_embedded&v=dS7StCXAtI8

    AltInvestorshangout, Published on Apr 28, 2013

    Alasdair Macleod from GoldMoney.Com discusses:

    (1) The latest gold raid.

    (2) That the COMEX, LBMA, and CME may not default as people have been saying. Tricks can be played.

    (3) Refutes Keynes and Krugman’s critique of Say’s Law and debunks another Keynesian argument.

    Tabberto
    Apr 28, 2013 - 3:58pm

    GL A button push isnt enough

    that was marvellous

    Cry Me A River
    Apr 28, 2013 - 4:03pm

    Yeah Alex--Take A Look At This Crap

    SLICK CRAP. If I brought these into my LCS, He would NOT buy them for junk silver prices. I know, because this is how I learned the importance of junk silver condition if you are going to cull out your crappy coins from your junk silver bags.

    This kind of crap fetches 70% of spot and is treated like sterling silver jewelry:

    Frankly there should be an agreement among dealers to take these slicks in at awful buy-back prices with the intention of sending it all to refiners.

    Green Lantern
    Apr 28, 2013 - 4:03pm

    3 in 1 post silver/gold/corporate ambitions.

    @AlexCojones Why don't you suggest an answer to your own question. Instead of leaving us in a lurch assuming that you are suggesting that silver will the hit shitters because supply rises. What happens to supply once silver hits the open market? Don't wait for us. While you are answering the question, also answer the question with very little supply of silver available based on almost every fricken report in the last two weeks, why hasn't the price skyrocketed high demand and low supply? Might as well answer the entire supply and demand question and ignore all the posts by Turd about price discovery mechanisms.

    To all the sprott haters that keep spreading ferkakta rumors on these threads over and over again that Sprott dumped his shares despite 1st hand reports from Sprott/Global that is not what happened. It was addressed over an over again and somebody even called Sprott offices and reported back. And yet, people continue to mischaracterize it and the other day people were saying that Sprott doesn't have the goods in his PSLV. Put up or shut up. Stop with the general character assaults and libelous posts that spread misinformation. Somebody show how the hell they know Sprott doesn't have the goods. Sprott didn't dump shit. It was sold to buy other silver leveraged instruments. PERIOD. It was also the Sprott charitable foundation.

    “The shares were sold by his charitable foundation to meet some of its obligations. The rest of the units were sold to buy shares in silver mining companies, which he believes will outperform the metal itself on the next rally.”

    And if you don't know what the obligations are, research it. The obligations are scared ass people that want cash.

    Off topic is not as offensive as misinformation that speaks to the topic. People yell and scream at the KWN permabulls, this guy and that guy, but in their own small lives make the same atrocious errors that they accuse the professionals of. Be consisten.

    AND

    GMO etc is an OK conversation for a Saturday. But now it's Sunday and the metals re-open in 4:40. Let's please turn our attention back to the week ahead.

    Got that all you people whining and moaning. True some of the GMO posts went over Turd's deadline but all the folks who are moaning let's talk gold and silver never seem to bring anything to the table on the very thing they want to talk about. Instead they focus on how annoyed they are instead of being the change they want to see.

    It's not like there haven't been any really interesting developments with gold in the last 36 hours. I found three interesting gold stories. Here is the one I like the best, Like the Swiss tryiing to pull out of world financial currency markets, now asking Canada and Britain for their gold back, and forbidding their central bank from selling any of their gold to develop a gold back currency.

    https://www.thespec.com/news/business/article/925451--swiss-central-bank...

    And 13 states voting for Gold currency

    https://www.theglobeandmail.com/globe-investor/inside-the-market/eric-sp...

    People complain about others because they themselves don't know how to make a differences. Start doing your own due diligence and don't wait for others to steer tthe conversation in your direction. You be the source of your own knowledge and show everybody what you know instead of whining like babies.

    AND

    Finally, the I want to be like the guys that work in the big office post.

    From what I have observed, I can tell you that all of these people are normal and down to earth. Sure, the have tons of money... but at one time they didn't. Most worked hard for DECADES to get where they are. There is no giant conspiracy against the public, be it GMOs or in my case, propaganda on the TV. While some broadcasts like MSLSD and CNN might spread propaganda, these people are just doing business. Had to laugh when I saw Bill O'Reilly call out one of my client's companies on national television. I asked him about it and he said "You will never be able to make everyone happy. Sure we put people on the air that we disagree with, but we have no interest in silencing anyone."

    Silverbullet, you might want to reconsider or bring greater powers of observation to those "normal" down to earth people in those big corporate offices. Because many of us here, and I believe Turd included, were part of that group and some still are like yourself. And it's true that most people at large corporation from Banking, Big Pharma and Agriculture are "normal" aka live the unexamined life, don't question the status quo and work long hours to feed their kids, have bigger houses, send their kids to college etc... It's true 99% of the people are not in on the game because they have been gamed. They buy the lies of their corporate masters. Everybody from the CEO down aren't the decision makers. It's the guys in the black suits who you see in the elevators maybe once a month, get briefing books from the pions, and then decide the fate of ever worker including CEO, CFO, divisional Presidents on down.

    By now, you are probably thinking he is one of those anti-capitalist guys. WRONG.

    I worked for one of those corporations most of my adult life, made good money, and enjoyed all the perks that come along with such associations, sports tickets to World Series's, Hockey, Basketball, front row tickets at concerts, all night drinking binges at the best restaurants and bars, limo's home and offers of all the girls I could get in return for business. You don't know shit about what happens in antibodies office when you are not there. In one fell swoop in a closed door meeting they dumped the most successful people into the gutter. Everybody that thought just like you went into a crisis of faith. a crisis of I thought we were family. The "normal" people who the masters paid handsome sums of money to their elite executive never questioned but are only given marching orders. To question the corporate missions is financial suicide and nobody with 1/2 a brain wouldn't do it. There people in the corporate world that do see the charade just play the game however, they are devoid of any real passion for their work and just collect a paycheck. I understand it and don't hold anything against them.

    But they, just like you will be in a for a big wake up call, IMHO. You seek security where none exists. You seek a symbiotic partnership with corporation and you only see the normal people which as a vendor you might take them out for a beer, dinner and a ballgame and see their humanity. And that's true that they are probably hard working, righteous people that aren't out to poison the human race. But I'd bet dollars, they are brainwashed, dumb down and never question the authority even in their quiet moments away from the office.

    You are entitled to your American dream but it seems like that dream prevents you from seeing the truth and definitely indicates there is further down the rabbit hole for you to travel. I'm all for entrepreneurs and becoming as filthy rich as you possibly can in a free market. "Normal" is not what anybody wants to be at this juncture. Normal is not why most people are here.

    By the way, in your spare time when we are discussing GMO's and other topics of disinterest, look up the history of the expression of the American Dream. You might be surprised how that was introduced into the American vernacular.

    Life Inc The Movie
    hammerman
    Apr 28, 2013 - 4:21pm

    wsj post by texas sandman @ 9:42pm last night

    texas.... please consider my plight if i was a congressional critter.... now you as a gold bug come forth asking/demanding for an investigation of the CME/CFTC.... hmmm... sounds like i need to consider this.... my people in my district are awaking.... hmmm.... let me check with my jamie dimond connection to get the ok to do some more dog and pony shows on tv..... JAMIE SAYS xxuyt!!x off! ok mr dimond.... just send your next payment to my caymin acct thank you.... then upon refllection i say to myself..... self your an older gent so leave this for someone else to clean up...... anyways i want my spot in this one world gubmint thing that is coming..... press release from your congressman..... sorry but we dont feel that an investigation into the CME/CFTC are worthy of our time..... we gotta collect them guns anyhow before too many people wakes up and start shooting.....

    Karankawa
    Apr 28, 2013 - 4:51pm

    Jakeblues, excellent points!

    There is only one reason I can think of that might offer an explanation. When I have shown 90% coins to people that were not aware of any facts about the silver/coin market, they have frequently gravitated to the older dates.

    People that work in convenience stores frequently tell me when they come across a 90% coin, and they all center in on the date with the idea that older is better.

    Perhaps that is the market that is bidding them up.

    Karankawa

    Edit

    exclaimation = explanation (sheesh!)

    Cry Me A River
    Apr 28, 2013 - 4:52pm

    Karankawa

    Yep--Good Explanation.

    There's a big difference between condition and numismatic characteristics. Key dates and specific rarity aside, unless you need to "balance" your junk holdings with dimes and quarters in order to sufficiently own the proper fractional amounts, the only coin in my book that qualifies as the ultimate in junk silver value is the 1964 Kennedy half dollar. The more you have, the better your holdings are. Today, your best way to acquire good condition dimes and quarters is to find them in a junk silver bucket that a "fair" dealer allows you to sort through.

    I've traded all my crappy Franklins, and (1 for 2) crappy Washington's, long ago when silver prices were under $20, for nice, almost always, 1964 AU-BU Kennedy's.

    With this in mind, you can take this notion to ridiculous extremes as well. Say you want quarters but also don't want crappy coinage? Just sort through a junk bucket at your LCS--Avoid paying insane prices like this: https://www.apmex.com/Product/61276/90_Silver_Washington_Quarters___100_Face_Value_Bag_BU.aspx

    $2490.26/72.3 oz = $34.44/oz?---$10.47 Over Spot?--INSANE!

    Nick Elway Cry Me A River
    Apr 28, 2013 - 4:58pm

    Jake, I'd rather have liberty "mercury" dimes than FDR dimes

    It bothers me to spend money for something with the mega-statist FDR's image on it. That is why I tend to purchase liberty "mercury" dimes and will pay a premium for them.

    For most of my life I've considered Kennedy to be in a league with FDR and definitely on the side of statism. In college a friend cursed me with "may all your children grow up to be Kennedy democrats" That would be a step up, they are Obama democrats. My opinion of Kennedy has climbed, but he is still not in a league with Ben Franklin.

    We may be living with this silver for years before it reaches full value and then spending it one coin at a time. I'd rather have my hands touch on the images of Liberty and Founding Fathers than on statists.

    The coin collectors I know regard Franklins more highly than Kennedy halves, they say more were melted so they are relatively rare. I say you also don't have to check for 90 per cent versus 40 per cent versus clad when dealing with Franklins.

    That's my taste, I'd pay a bit more (19 ea Franklins worth to me as much as 20 ea 1964 Kennedys) . Perhaps the eBay buyers have similar thoughts.

    Southern Cross
    Apr 28, 2013 - 5:06pm

    Faceoff for WW III heats up

    Which bully projects power using aircraft carriers in Korean waters? This would be a face off of China and the US. All others would play a minor role. Obama and the elite continue to raise the stakes while Americans let him do it. This is silly and will get millions killed. Will nukes fly? Will one come to your city? Silence is all it takes. Time to stand and hold accountable those in power.

    WE DON"T NEED ANYMORE KILLING. WHY ARE AMERICANS ALLOWING THOSE IN POWER TO STIR THE POT AND CAUSE ANOTHER WAR?

    CHINA IS ON FIRE: China Orders Troops And Tanks To North Korean Border, Deploys Anti Aircraft Carrier Missiles Off Cost Of Taiwan, Sends More Than 40 Fighter Jet To Senkaku Islands, And Warns Philippines To Immediately Withdraw From Disputed Islands

    April 28th, 2013

    Read more at https://investmentwatchblog.com/china-is-on-fire-china-orders-troops-and-tanks-to-north-korean-border-deploys-anti-aircraft-carrier-missiles-off-cost-of-taiwan-and-warns-philippines-to-immediately-withdraw-from-disputed-islands/#jdupihxiZKZ8pyRD.99

    agNau
    Apr 28, 2013 - 5:08pm

    .

    "Derivatives will be a primary tool for the destroyers of wealth, and bank deposits all over the Western hemisphere will be invaded." Hmmmph

    Kill the Rooster
    Apr 28, 2013 - 5:09pm

    Does your LCS charge sales tax?

    First time post. Writing in from Las Vegas, NV. Does your LCS charge sales tax? They sure do here! (8%) A few years back, the LCS's were complaining about all the PM bullion business they were losing to Coin Shows. So in response, the NV State Legislature passed a law in 2011 exempting bullion from sales tax. There is only one reputable LCS in town and a few other rip-off shops. Sahara Coin interprets the law as only applying to generic bullion like a bar or .999 round. They charge sales tax on AGE, ASE, maples, krugs, 90%, numismatics, etc. This effectively prices me out for something like junk coins or silver eagles. I don't like taking the 8% hit. They probably don't remit the tax that they collect, and just keep it as extra profit. But whatever, most of us know that there are better places to buy PMs than a LCS. The ONE reputable joint (Sahara Coin) has a website with their daily buy/sell prices, so it's fair in that regard. Just consider that pesky 8% sales tax on all except generic. Do LCS in other cities post buy/sell prices? Would be interesting to compare.

    lakedweller2
    Apr 28, 2013 - 5:21pm

    Weight of the Metal

    FWIIW

    When comparing coin dealer prices, whether 90% or BU new .999, I try to figure what the actual weight of the silver or gold is to figure which is a better deal. I guess that is the same as melt value. If it is a well worn coin, then the weight of silver or gold would be expected to be less than a BU of same origin. A well worn coin should be discounted to one that is not. (Then look at markup/shipping differentials/volume discounts).

    I will go back to lurking now.

    TD
    Apr 28, 2013 - 5:25pm

    Perhaps an explanation...

    I personally like the worn coins... obviously I'm not a coin collector. I do collect antiques though, old tools and such, and I appreciate the wear and patina that comes with years of use. I like to reflect on the hands that held these pieces. I'm sure the the guy at the LCS is amused at my selections from the junk box... but hey, different strokes for different folks.

    Cry Me A River
    Apr 28, 2013 - 5:35pm

    Well Nick, Now I've Heard It All--ROFL!

    Karankawa, There's Your Explanation. If you have any slick Franklins, or Rosey's---trade them to Nick---ROFL!---he says, "I'd pay a bit more (19 ea Franklins worth to me as much as 20 ea 1964 Kennedys) "

    I need to look up guys like Nick when I need to sell!---LOL!

    Hey Nick--I'll Give You This Slick Crap:

    In Exchange For This:

    Or How About This: For This---lol!

    Come On Nick---You can't Be Serious?

    lakedweller2 TD
    Apr 28, 2013 - 5:35pm

    TD

    That's a good point. I recently bought five different new silver coins from 4 different countries. Same amount of silver in each but different mark-up on each. I bought them for the picture stamped on them. Still silver for the long run, but can see something a little different while I stack them.

    BagOfGold
    Apr 28, 2013 - 5:37pm
    cpnscarlet
    Apr 28, 2013 - 5:44pm

    Now I feel ill...

    Listen to Lindsey Williams start off the Alex Jones show pimping product and AJ saying "I didn't know you were going to say this..."

    What a bunch of crap...

    Remember... LW said the dollar would be "dead" by December 2012. More scamsters.

    Cry Me A River
    Apr 28, 2013 - 5:47pm

    TD

    says, "I appreciate the wear and patina that comes with years of use. I like to reflect on the hands that held these pieces. I'm sure the the guy at the LCS is amused at my selections from the junk box... but hey, different strokes for different folks."

    TD---You're referring to a completely different subject. Who doesn't appreciate an 1858 seated coin and imagine where it's been---But buying quantity junk silver requires some important considerations when comparing value at the time of resale.

    I didn't intend on delving this far into this subject until Nick put up his post, but I was just suggesting that you can't allow your fascination for numismatic characteristics in a worn out coin that won't bring you any extra value to cloud your thinking when looking for best ways to hold silver in quantity.

    All of us, I'm guessing have a small percentage of their net silver holdings in the form of numi coins for fun. I do too. But that's altogether a different subject. That's why I qualified my post by saying "Key dates and specific rarity aside..."

    Cry Me A River
    Apr 28, 2013 - 6:02pm

    Kill The Rooster

    From: https://thecoinologist.com/sales-tax-state-by-state-breakdown/

    Nevada
    Sales tax is collected on anything that sells for over 50% of its “Face Value.” Private Mint Bars and Rounds are exempt.

    STATES NEAR YOU:

    California
    Exemption on Coins and Bullion when over $1500. Paper Money is taxable.

    Utah
    No sales tax collected on Coins, Paper Money, or Precious Metals.

    Idaho
    No sales tax on Coins or Bullion. Paper Money is a grey area.

    Arizona
    No sales tax collected on Coins, Paper Money, or Precious Metals.

    Oregon
    No sales tax collected on Coins, Paper Money, or Precious Metals.

    SilverSurfers
    Apr 28, 2013 - 6:07pm

    China

    Yeah, China, the global confluence marches on. What was asked not two days ago?

    Any chinese carriers in the south china sea, yet?

    meh this world is fun .... ok, back to meow fights.

    Dont ya love, this time of day, sundays ready for the china launch?

    just saying, just asking,

    and oh, 4th grade writing skills in cerebral light speed, tends to hog for awhile the latest post billboard, so, one can only say, sincerely sorry, as a millions proof reads conflict with excitable boys and alpha werewolves in london, ok ok, back on the back page, for now.

    Zoltan
    Apr 28, 2013 - 6:09pm

    ND Silver Open

    First tick volume had 14.5k NDU but price gapped up to over $24. Second tick was down to 7K and calmed down now at around 1k or less. There always seems to be a big seller who will step in and hit all the bids to keep the price in check.

    Wonder who that could be? /sarc

    Nothing crazy so far and at least the trend is up.

    Z

    Nick Elway Cry Me A River
    Apr 28, 2013 - 6:26pm

    Jake,

    I am serious about the mercury dimes versus FDR dimes. I really would prefer to have 1 per cent less silver in my mercury dime than to have to deal with an FDR image.

    Your choice of the 1953 Franklin half in average circulated condition actually makes me say yes for that one too. The numismatic premium for an average uncirculated 1953 half is a dollar or more. I'd expect a roll of 20 average circulated 1953 halves to cost at least $20 more than uncirculated 1964 Kennedy halves. If you want to face-to-face trade me such a roll of yours for one of my 1964 Kennedy half rolls I would say yes. Edit:(and today I'd still come out ahead if your roll had only 19 coins)

    https://coins.about.com/library/US-coin-values/bl-US0050-Franklin-Half-D...

    Ridicule my choice or the choices made by those eBay shoppers if you want, this is the Internet and ridicule is cheap.

    I could question why you would want to give any respect to a statist like FDR. The free market sorts our differences out.

    Then again the market won't be free in Connecticut much longer! They will be demanding a digital picture and sequence number for each coin sold?

    https://teapartyeconomist.com/2013/04/26/connecticut-no-guns-no-gold/

    tpbeta
    Apr 28, 2013 - 6:29pm

    MOPE

    You know we just don't talk about MOPE enough around here. Management of Perception Economics. Yes there's manipulation but it wouldn't be enough on its own. Yes there are fundamentals arguments on inflation but they're disputed and no longer taken seriously by big money, as far as I can tell.

    But perception? I've watched the PMs get caned by MOPE over the last 6 months - pavlovian training of the algos by planned sell-offs which then created their own narrative that became self-sustaining, creating that most remarkable thing - a bearish perception where all the indicators had bullish correlations. Incredibly sophisticated accomplishment.

    My point in this ramble is this. It's the market perception that lies between fundamentals and manipulation that is the real battle ground. By over-focusing on the other two, I think gold and silver bugs expose themselves to getting blindsided more than they need to. The COT may suggest a bounce, but without a favorable perception, the rally will get sold. QE may increase the money supply, but so long as the perception thinks (rightly or wrongly) it's not going to create inflation down the road, it doesn't impact on commodities.

    Finally how is the perception created? Not by MSM propaganda IMHO, however much folks want to bang on about sheep and shills. But by extrapolation from the present. There is no hyper-inflation so there will be no hyper-inflation. Metals have gone down so metals will go down.

    A British Prime Minister of yesteryear was once asked (or maybe it's apocryphal) what he feared most. His reply - "Events, dear boy. Events." It's events that will defeat the MOPE, if it is to be defeated at all. Until then, my guess is a bottoming and a range trade is most likely.

    Mr. Fix
    Apr 28, 2013 - 6:30pm

    ALASDAIR MACLEOD- WHAT COMEX DEFAULT?

    ALASDAIR MACLEOD- WHAT COMEX DEFAULT?

    APRIL 28, 2013 BY THE DOC LEAVE A COMMENT

    In this interview with AltInvestors, GoldMoney’s Alasdair Macleod discusses why the COMEX will NOT default, and what tricks the banksters may yet have up their sleeves to keep the paper metal futures markets functioning. [Read more...]

    It's audio, a good listen!

    Karankawa
    Apr 28, 2013 - 6:32pm

    Opinions on 90%

    Folks. It's been said that 90% silver is going to become the free market example.

    With the discussion I see so far, I have to agree. I think this is rather fascinating.

    Mr. Fix
    Apr 28, 2013 - 6:33pm

    A PM half hour update :

    SGT REPORT UNBOUND: MEGA PRECIOUS METALS UPDATE

    APRIL 28, 2013 BY THE DOC 12 COMMENTS

    This is a MEGA Precious Metals Update from SGT Report. The news is coming at us so fast and furiously (pun intended) that it’s hard to keep up, even for us. But here’s a half hour update dedicated to the very latest cartel precious metals manipulation news as we watch the end game unfold before our eyes: The COMEX default and economic collapse nears as 99% of ALL gold sales in the last 3 months was thanks to primary broker and agent of the FEDERAL RESERVE, JP Morgan. You can’t make this stuff up – it can ONLY happen when and if the collapse is at hand. [Read more...]

    Gold Dog
    Apr 28, 2013 - 6:37pm

    @Jake

    I always enjoy your 90% updates. I would have to guesstimate that half of my Junk is slicks. It never occurred to me that I was looking for anything other than plain Jane AG that would work in a barter situation.

    I would hate to think that appearance could over ride metal content, even though slicks weigh a tad less.

    Dog

    PS- I miss Chez Paul....what a special treat eating there was!

    tmosley
    Apr 28, 2013 - 6:41pm

    Tyberious, thank you for the

    Tyberious, thank you for the post on GMOs. Having read the evidence presented in this thread (the peer reviewed articles posted earlier, and Tyberious' good summary), I have changed my position on GMOs, and now consider them inherently dangerous, not just dangerous because of the greater amount of herbicide dumped on them.

    I am surprised that such effects come from genetic modification, as gene therapy has been quite well established for use in medicine, and to my knowledge has not lead to the seemingly endless number of side effects that GMO food has. Surprise is good to a scientist, as it allows one to improve their understanding.

    Now, back to metals. Let us hope for some positive surprises.

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    Key Economic Events Week of 5/20

    5/20 7:00 pm ET CGP speech
    5/21 10:00 ET Existing Home Sales
    5/22 2:00 ET FOMC minutes
    5/23 9:45 ET Markit PMIs
    5/24 8:30 ET Durable Goods

    Key Economic Events Week of 5/13

    TWELVE Goon speeches through the week
    5/14 8:30 ET Import Price Index
    5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
    5/15 9:15 ET Cap. Ute. and Ind. Prod.
    5/15 10:00 ET Business Inventories
    5/16 10:00 ET Housing Starts and Philly Fed
    5/17 10:00 ET Consumer Sentiment

    Key Economic Events Week of 5/6

    5/9 8:30 ET US Trade Deficit
    5/9 8:30 ET Producer Price Index (PPI)
    5/9 10:00 ET Wholesale Inventories
    5/10 8:30 ET Consumer Price Index (CPI)

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