A Bear Market in GoLD

326
Tue, Apr 30, 2013 - 10:47pm

Everyone's favorite faux depository reaches a dubious milestone.

As you know, we've been keeping track of the depletion of the GLD. Today, let's use CNBS' favorite metric, the 20% decline, to characterize the "inventory".

On 1/2/13, the GLD showed an alleged "inventory" of 1,349.92 metric tonnes of gold. As of this evening, the GLD "inventory" is listed as 1,078.54 metric tonnes following another drawdown today, this time for 2.10 tonnes.

So, year-to-date, the GLD "inventory" is now down 20.1%...thus the title of this post. What does this mean? How much gold is this? At what rate is gold exiting the GLD? Here are some random bullet points:

  • Down over 20% means that for every 5 bars that the GLD allegedly held 4 months ago, it now holds only four.
  • GLD has shed 271.38 metric tonnes YTD, that's about as much as the entire holdings of Austria and more than the combined holdings of Brazil, Denmark, Australia and Indonesia. https://en.wikipedia.org/wiki/Gold_reserve
  • Using the same source as above, even after this 20% decline YTD, the GLD still holds as much gold as the country of Switzerland. Rrrrright....uh-huh....
  • It took over two months for the GLD lose it's first 100 tonnes for 2013. The "inventory" fell to 1,243.05 on March 7.
  • It then took just six weeks to lose the next 100 tonnes, reaching 1,145.92 on April 16.
  • Three weeks ago tonight, just days before the massive, two-day beatdown of paper price, the "inventory" stood at 1,200.37. Again, this evening, it stands at 1,078.54. That's nearly 122 metric tonnes (over 10% or roughly the size of the total holdings of Mexico) in just the past three weeks alone.
  • In contrast, the SLV has seen its "inventory" rise YTD. It began 2013 at 10,084.96 metric tonnes. As of this evening, it allegedly holds 10,407.44. Up 3% since the first of the year. Now Bob Pissonme would have you believe that the drop in GLD "inventory" is related to simple investor liquidation and re-allocation. If that's the case, how do explain this change in the SLV? <crickets>

So, let's have some fun and attempt to put all of this into context. Again, the GLD has now shed 271.38 metric tonnes in just the first four months of 2013. This is:

  • 8,725,069 troy ounces OR
  • 21,813 London "good delivery" bars OR
  • If you stack those bars onto pallets holding 192 bars a piece, it looks like this:

Yes, that's 114 pallets of gold, each holding 192 bars, each bar weighing 400 troy ounces. Gone. But, to where? Back to Authorized Participant vaults for safekeeping until "investors" begin to accumulate shares of GLD again? That's what Bob Pissonme would have you believe but is that really the case? Perhaps something else is going on, instead? We shall see, now won't we...

It certainly is an interesting time to be alive.

TF

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SilverSurfers
May 2, 2013 - 8:00pm

Think II

of a simply prayer relief (1) at lift off among many details ones,

(1) leviathan is preliminary enjoined from manipulating the commodities markets.

note: they cant really argue against it because they admitted they dont manipulate, because it dont hurt them, so, shut your month and sit down, the only thing is, in that motion at lift off, is for leviathan to tip its hands, and explain its business methods in a focused way, where it believes it dont manipulate based on the moving papers, thus a set up, hence the immediate focus on their business by then, and hence shut your mouth or put up or shut up, and will try in the opposition motion papers, explaining the focus, and thank you very much for the focused opposition, hence in the reply focused on their admissions of their business, and we sink the ship, LOL, piece of cake, back on motion papers, where there is manipulation, and thus the initial salvos, in (1) obtained, seriously damages them, but game over, and provides us advantages during further litigation, and hence, the key is the initial salvo of moving papers, short and sweet and simple, (Silly's proven ability) that even joe six pack gets, and since they get no sympathy and courtesy, they got a couple weeks to respond back to these well guided precision motions, with Ts crossed and Is dotted, they are doomed, easy as pie:0 Yours Truly, Elfie

And so, the trick is up front preparation, firing the salvo, according to the rules, so all can see, and then watch the rats leave the sinking ship, lol, piece of cake. Yours Truly, Elfie

This is not rocket science, and they are not rocket scientists, but mere mortals, ripe for slaughter, hehehe. Yours Truly, Elfie

The investigator, andy dany apparently through the looking glass has shown prima facie manipulation, and is probably having a hard time seeing inside leviathan operations for the killer proof, but not to worry, leviathan will hand it over on a silver platter, shooting itself in the foot, hehehe, but prima facie manipulation gets the STAR into court, and we just got to set them up. Yours Truly, Elfie

NASA video: Space shuttle Endeavour final launch
SilverSurfers
May 2, 2013 - 6:25pm

Think

how long it would take to get the necessary asset, the three hired guns, up to speed, and the costs of teaching them, if not impossible, considering them in the first order as trolls locked in, and as an example, look at what bifurcated canine proved convincing that a scatter browian motion light on a hard rock group of rocket jocks with mirv bombs spitting back scattered diffused reflections, that could not and did not, put it all together, convincingly in a short time for bifurcated canine, and thus a failure of the rank and file, and now attempt to extrapolate that failure to the hired guns, and you are talking about an infinite amount of attorney time of those hired hos, that funding is simply unavailable or the time in our life time, even if successful ultimately in the schooling, but maybe leviathan can afford it, and so, in order to go toe-to-toe with leviathan now with a six month event horizon, you will need control of the sharks without getting them up to speed, absolutely so, as that is cost prohibitive, and so, you will need a cross-dimensional manager on light speed with precision torpedoes, the tres hombres, and who can concurrently control swimming sharks for enhanced guidance to hit and sink the ship, otherwise, you and I must watch the wiggles and hope on hopium, legs crossed, that andy dandy strikes pay dirt, unguided, in a forum where bart has previously failed, before the totalitarians in self interest, which totalitarians have already shown their colors. Best guess, its a loser from the get go, and andy dany wont bring home the pot of gold. just saying, respectfully, sincerely, SS

SilverSurfers
May 2, 2013 - 5:42pm

double

post sry.

dudestacker
May 2, 2013 - 5:15pm

There will never be another

There will never be another selfie as great as this.

SilverSurfers
May 2, 2013 - 4:55pm

Rant

by the mayor asking for clarification, and due to high honor in town, that request must be considered seriously, out ranking the commander, and it has been duly noted, the results being in the negative, because Silly does not have the time as the first order cut is the first prime directive, and secondly, Silly could careless about periods and commas and typographical errors and English Teachers on The Hunt for Red October.

Sorry, Sincerely, no offense, Silly

Video unavailable

We can play these games all night, USS Alabama, and day.

Video unavailable
SilverSurfers
May 2, 2013 - 3:30pm

Retirement

at the old old age of 58, having two young boys 8 and 10, being house husband, only the star going for leviathan would temp me out of retirement, and thats a fact jack.

Razzle-Dazzle at Graduation - Stripes (8/8) Movie CLIP (1981) HD
SilverSurfers
May 2, 2013 - 3:18pm

Adjust

the dosage, and that is shocking, actually, as Silly did not know golden bugs in town, creepy guys on the corner, and PhD shrinks at the lockdown wards, all employed the same means, Surprised, Surprised, Surprised, but sticking to caffeinated jet fuel only, so cant really comply with the request. Sincerely, no offense, just being Silly.

As long as Silly is stuck is this stupid silly crazy world, might as well toil and have fun,

Arthur Brown - Fire

betwtix refuelings and inspirationals, of course.

Zoltan
May 2, 2013 - 2:39pm

@SilverSurfer

First of all that is the worst run on sentence I have ever seen (Bollocks Forget paragraphs, how about a period in there once in a while!!!).

I tried to read it twice because you have made some valuable contributions to the site in the past. Frankly, I have no idea what you are going on about. Now I like riddles as much as the next guy but I was unable to interpret anything of any value from that. If you have something to say, why not just state it in plain english?

Hopefully you will clarify what that rant was about cause I am drawing a blank.

Z

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SilverSurfers
May 2, 2013 - 1:14pm

But

you may just get there. This cite has a tremendous number of great thinkers and aligned. Nuff said. Sincerely, no offense.

Gold Dog
May 2, 2013 - 12:54pm

None taken!

I understand everyone's apprehention about what is going on these days.....we all have to learn and teach the best we can!

Your friend,

Dog

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