GLD Deception Reaches a New Level

Wed, Jul 17, 2013 - 5:55pm

Just as Westley asked Fezzik, "Look. Are you just fiddling around with me, or what?".

My contempt for the GLD and its Authorized Participants is well-documented. I have no doubt that this sham vehicle was expressly created to siphon demand for actual bullion and provide a readily-accessible inventory of metal for the Bullion Banks to "flywheel" whenever and wherever conditions warranted.

Since the first of the year, the GLD "inventory" is now down over 30%, having fallen from 1,350 metric tonnes to today's 936. The shills of the sell-side firms and the dupes in the financial media proclaim that this liquidation is due to heavy investor "selling and reallocation" away from precious metal. Of course, the fact that the comparable silver ETF, the SLV, is UP in inventory by 140 tonnes matters little. The narrative must be forced down your throat in order to provide the banks the continued cover that they require.

And then you get days like today and yesterday, where the banks let their guard down. Did they mess up and accidentally show their true motives OR do they just simply not care anymore, preferring to thumb their collective noses at all of us who are screaming "fraud" and "sham"?

Why do I say this? Check this out.

Yesterday, the GLD reported another drawdown. (Even though price had risen by over $40 since last Thursday...but I digress.) Yesterday's "inventory reduction" wasn't significant compared to some of the drops we've seen this year, it was reported at just 1.50 metric tonnes. The only thing that caught my eye was the round number of 1.50. That seemed strange so I made a mental note and moved on.

Today, the GLD reported another drawdown and this one really got my attention because...drumroll, please...the amount reported was another 1.50 mts. Exactly, right on the nose. Drill down even further and it gets more hilarious:

Monday GLD: 30,192,195.27 troy ounces

Tuesday GLD: 30,143,884.76 troy ounces

This is an AP withdrawal of 48,310.51 ounces. (As an aside, how the heck do you account for the extra 0.51 ounces anyway? Doesn't that seem strange, too? But, again, I digress.) Now check this out:

Tuesday GLD: 30,143,884.76 troy ounces

Wednesday GLD: 30,095,574 troy ounces

This an an AP withdrawal of 48,310.04 ounces.

Seriously, we're supposed to believe that paper gold went up $6.90 yesterday and fell by $12.90 today, all the while the exact same number of shares were tendered each day leading to the exact same physical withdrawal. As they say, "I might have been born at night but it wasn't last night". Exactly 48,310 ounces for two days in a row? Seriously?? Give me a break! Are you just fiddling around with me or what?!?

This is all a huge sham, scam and joke. Can there be any remaining doubt that folks like Maguire, Sprott and Williams are correct? Decades of leasing and rehypothecation have left physical gold in such short supply that a crisis has developed within the fractional reserve bullion banking system. Absent available physical gold to deliver immediately to hungry Eastern buyers, The Gold Cartel Bullion Banks have been utilizing the current price weakness to raid the GLD for every possible ounce. Further proof of this extreme physical tightness is seen in the negative GOFO rates, which have now remained negative for a record-shattering eight, consecutive days.

This charade will soon end in spectacular fashion. Please continue to accumulate physical metal, as much as you deem prudent, while you still can.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 18, 2013 - 10:40am

Coober Pedy Oil

I wouldn't get too excited yet over Coober Pedy oil deposits saving the world. Information is scarce on this discovery, but I understand it to be tight oil like the bakken.

I have no doubt there is oil there, but what is the extraction cost going to be? Coober Pedy has got to be one of the most inhospitable places on earth. Many of the people there live in caves because of the heat. However these caves are not what one might expect.

I don't know what company Money Morning is promoting, but it may be too late to get in at a decent price as this discovery has been known for months. These companies usually spike on initial promotion, then taper off as reality sets in. It will take at least a couple of years to get a true reading on this find when drilling costs, infrastructure, depletion rates, etc., can be obtained.

Jul 18, 2013 - 10:33am

GLD depleting SLV growing

On one hand we have the fact that, JPM are hoarding almost all the availabe silver through being custodians of the SLV at the same time JPM and others are raiding the GLD stock to deliver metal to people who are standing for delivery.

Which seems to imply that silver is not in a shortage but gold is. . .

just trying to express some vauge suspicions, I have a notion that we migt be being led to these conclusions like the way sheep are shepherded into their pens.

On this board i think we are like the stray sheep left straggling behind. Most sheep are all ready rounded up, the price manipulation and anti gold and silver propaganda is enough to do that. But that doesn't mean they don't also want to round us up too.

I can't put my finger on it yet but I am suspicious of freegold. I feel it is what the bankers want us to move to when the end of the keynsian experiment is upon us. It won't be much different to what we have now except gold will be priced higher. Do bankers want us out of silver and prefer to divert us to gold if we have to be in PM's? Could SLV stocks growing be an elaborate construction designed to make metals bugs abandon silver thinking gold is a better bet

Another example, here in UK you can buy gold and not pay VAT tax. When you buy silver you must pay tax! Is this another example, divert metals enthusiasts to gold instead of silver?

just throwing it out there

could silver really be the bankers Achilles heel?

Jul 18, 2013 - 10:31am

where is the 90% junk silver coming from

I switched to 90% junk silver 3 years ago. I was under the impression it is not being made any more.

But, Gainsville Coin, Apmex, always have a fresh supply. It seems like the LCS don't have any, so what is the source of it?

I have asked that question before and no one answered.

Could it be that SLV when started cleaned out all the 90% that was stored. And now either melting it or sending it back to the market . Back in the summer of 2008, you could not get any 90% anywhere.

So, where is it coming from.

Jul 18, 2013 - 10:30am

I sure hope the GOFO rates

I sure hope the GOFO rates make a quick and massive 180-degree turn. And I hope the CoT gets horribly bearish - quick! I can't wait for Tapering to begin, followed by a complete stoppage of asset purchases, followed by The Fed liquidating its balance sheet.

All that bullishness is destroying my silver portfolio.

Jul 18, 2013 - 10:25am

I just laugh

All of the time and energy we devote to commenting on the metals.

All of the arguing back and forth.

All of the undeniable, epic corruption and all of this talk as to whether or not they really are committing ginormous crimes.

All, in the end, to sway your opinion on whether or not it makes sense to trade fiat paper for real money.

Don't get me wrong, I love this place, and the conversations, and the information, and the community, but there is absolutely nothing anyone can say or write that will convince me I am better off holding fiat paper instead of time tested money.

Every other argument is just passing the time until a mathematical certainty reaches its conclusion.

I am going out with my kids for a few hours. They are way more funner than rehashing manipulated metals action driven by algorithms. Cheers Turdville, you people rock!

Jul 18, 2013 - 10:14am

I guess I prefer to hedge

I know that 66 to one is a bad ratio at which to convert silver to gold... but...

Last week I sold enough ounces of AG to take a 3K maximum loss to stack against takaing my fiat our of the IRA earlier in the year. A couple of days later I was drawn to the LCS and I bought mostly gold and a couple nice little AG bars that I think the native American silversmiths use around here.

But something lately has been attracting me to gold. I have been weighted about 10 to 1 AG to AU for a while and just "feel" that I need more AU. What if Motley Fool is right? Then I'll want to pay off some land with a AG spike and hold the AU long term. My spidey sense is just yelling "gold" lately.

Any thoughts on wise ratios? count in fiat or ounces?

Motley Fool
Jul 18, 2013 - 9:38am

Motley: I, for one, find it

Motley: I, for one, find it hard to beleve that there is a guy with a scale and or ledger writing down the exact weight of each and every bar allegedly liquidated and transferred. And how is it that they transfer amounts that are not divisible by 400 or 100? Are we supposed to belive that when 48,310 ounces are withdrawn, the AP gets: 120 London bars 3 Comex bars 1 10-ounce Johnson Matthey Regardless, my point remains, two days in a row with nearly the exact amount of withdrawal is very fishy.

Jul 18, 2013 - 9:34am


USA Judicial Political Market Impeachment

Posted by Derrick Michael Reid on Thursday, July 18, 2013 9:04:48 AM

The country is facing an Evil Empire which will result in time to either economic collapse, civil war, total anarchy or totalitarian Stalinism as the Evil Empire locks down the people while trashing founding fathers principals and the US Constitution. Changes to judiciary, political, and market makers or their methods, must be made at to very top levels of judicial, political and market positions so as to defeat the Evil Empire and restore inherent freedoms the people and protect the government from the collectivized totalitarianism of the Evil Empire.

As President, I would eliminate the national debt, restore real and honest money, and restore the republic, and only during the the DMR Presidency as that is all that is sought to do the job necessary.

As President, I would ask of the US Attorney General to submit for approval Judicial Indictment Bills directed to the Senate charging Supreme Court Judges and Circuit Court Judges with high crimes for failing to comply with their oaths of office through gross interpretations of the US Constitution. The Senate would, of course, be the trier of fact in all such Judicial Indictment Bills against Supreme Court Judges and Circuit Court Judges for violating their oaths of office. Appointing any person to be a Federal Judge to sit on the federal bench based mostly upon political party orientation is major clue for those who do not understand what is totalitarianism or what is the Evil Empire.

Impeached Judges who are not mere political appointments, but real hard working jurists of long standing would then be reappointed to the federal district courts, so as to not waste valuable legal talents, while replacing any impeached judge with those willing to fully honor their oaths to defend the US Constitution, thereby providing necessary negative feedback at the highest level of the Judicial Branch so as to end the current open loop judicial fiat interpretations that are contrary to oaths to defend the US Constitution. District judges are confined by legal precedence of the Circuit Courts and the Supreme Courts and would fall in line with Circuit Courts and Supreme Court decisions as lower ranking courts, which district court judges are in effect Jurist Administers of the legal hierarchy complex, and thus there would be no need to indict any district court judge. Impeached political orientation appointments to the Supreme Court or Circuit Courts would be found a place in the DMR Administration which shall be party neutral so as not to waste good government talent. The DMR Administration does not seek to destroy any political party or political movement, but rather focus them all at the correct state or federal level for expressing their political orientations in the context of a republic of states headed by a federal government.

As President, I would ask the US Attorney General to bring cases against the Wall Street Banksters and Greedsters to change their methods of operations. All persons of any political, judicial and Market persuasion shall not be deemed to be inherently evil by the DMR Administration, for they do believe that what they are doing is right and moral, but cumulatively misdirected resulting in the Evil Empire. It is that accumulative misdirectedness that is the heart of the collectivized Evil Empire that pervades governmental functions, politics, judicial benches, and market forces. The Wall Street Banksters and Greedsters are generally playing by the rules, which allow, generally, Mala en Se profiteering, market riggings, and undue influences. They play by the written rules and they believe they are doing good work. They all are not evil per se.

It is the accumulative affects of the Banksters and Greedsters in the markets playing by the rules, interpreting judges violating their oaths in good faith, and self-centered political parties collectively upon government functions that results in and expands day by day, totalitarian rule, which is the Evil Empire. Thus, the DMR Administration will seek changes at top levels of political, judicial, and market positions, so as to change the nature of those functions only to such an extent to defeat the Evil Empire, so as to represent all the people, in view of founding father principals and the US Constitution.

Black Sabbath - Black Sabbath

Jul 18, 2013 - 9:22am

NSA affair: Ex-President

NSA affair: Ex-President Carter condemned U.S. snooping

By Gregor Peter Schmitz in Atlanta


Ex-President Carter: "The invasion of privacy has gone too far"

The Obama administration tried to placate Europe's anger over spying programs. Not as ex-President Jimmy Carter: The Democrat attacked the U.S. intelligence sharp. The disclosure by whistleblowers Snowden was "useful."

Former U.S. President Jimmy Carter was in the wake of the NSA Spähskandals criticized the American political system. "America has no functioning democracy," Carter said Tuesday at a meeting of the "Atlantic Bridge" in Atlanta.

Previously, the Democrat had been very critical of the practices of U.S. intelligence. "I think the invasion of privacy has gone too far," Carter told CNN. "And I think that is why the secrecy was excessive." Overlooking the NSA whistleblower Edward Snowden said Carter, whose revelations were long "likely to be useful because they inform the public."

Carter has repeatedly warned that the United States sharply declined due to excessive restriction of civil rights, their moral authority. Last year he wrote in an article in the "New York Times", new U.S. laws "never before seen breach our privacy by the government" allowed the.

Carter was the 39th President of the United States, who ruled from 1977 until 1981. During his tenure, he tried to align U.S. foreign policy that is more about human rights - after his retirement from active politics for his humanitarian work, he received the 2002 Nobel Peace Prize .

In Atlanta, he also expressed his overall pessimistic about the global situation. There is currently no reason for him to be optimistic, Carter said, referring to the situation in Egypt, which had fallen into a military dictatorship. He also lamented the growing political divide in the United States, the excessive influence of money in U.S. election campaigns and the confusing American election rules. The ex-president whose "Carter Center" operates worldwide including election monitoring, announced skeptical whether the United States, the standard that applies when reviewing the Center of elections might be fulfilled.

As a bright spot, however, Carter called the triumph of modern technology that would have caused some of the countries of the Arab Spring of democratic progress. Exactly these developments but are endangered by the NSA Spähskandal as major U.S. Internet platforms such as Google or Facebook lose credibility worldwide.

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