Turd on The Shadow Of Truth

28
Tue, Mar 8, 2016 - 9:50am

Yesterday, I had the pleasure to visit again with Rory Hall and Dave Kranzler. It was a terrific discussion of the current situation in gold and silver and I encourage you to listen.

The original link that summarizes the discussion can be found here: https://investmentresearchdynamics.com/sot-craig-hemke-demand-for-physic...

Here's some of the text Dave provided with the link:

"The debate raging in the precious metals community is if and when the a big raid on the precious metals market will commence. Today, for instance, gold had drifted higher in overnight trading only to be smacked pretty hard when the Comex opened. That’s nothing new. But what’s new, given the way in which the precious metals market is set up right now, is that after being taken down $12 by the criminal traders on the Comex, gold grinded higher until it was only down a couple bucks by the time the stock market closed. Even more interesting is that fact that the mining stocks (HUI Amex Gold Bugs Index) rejected repeated attempts to put them into negative territory on the day and they finished up over 6 points – 3.6% – on the day.

The trading pattern of the precious metals sector – at least for now – has defied all expectations of the market given that the technical factors in place now have historically ushered in a vicious takedown of the sector.

This data that I refer to when I talk about the bank picture, whether its the Commitment of Traders report or the Bank Participation report, it’s all dubious crap anyway because it’s generated by the criminals at the CFTC…when they crank out these reports, we’re supposed to take them seriously in the first place? The CFTC is a criminal co-conspirator [in the precious metals manipulation scheme] – Craig “Turd Ferguson” Hemke, SoT

A big variable in the expectation of a big sell-off in gold and silver is the COT “structure.” As of last Tuesday, the “Commercial Sector,” which is primarily the bullion banks, is net short 171,000 gold future contracts. The hedge funds segment of the COT is net long 104k gold future contracts. The “other reportables” and “non-reportable (retail trader) segments make up the rest of the long side of the bullion bank short position.

The net short of the bullion banks is 17.1 million ounces. Currently, the Comex vaults are showing 377k ounces of gold in the “deliverable” account and 6.8 million total ounces. This ratio of short interest to the amount of physical underlying is absurd. Technically it’s illegal because, as Craig discusses in the interview (see below), the CFTC continuously defies the laws in place and enables the banks to skirt mandated position limits on the Comex.

What will happen if one of these days the hedge funds decide to stand for delivery? If just 50% of the hedge funds stand for delivery? While it’s true that in any given delivery period that, at most, 1% of the long open interest stands for delivery, the laws of probability suggest that one of these days a significant portion of the longs will decide to take delivery. This will bust the Comex.

In the interview session below, we discuss this issue with Craig and several other factors right now that are affecting both the markets and the Central Banks ability to manipulate the markets. At some point the demand for physical gold/silver will break the system."

I think you'll find this audio to be both entertaining and informative.

TF

p.s. Here's the most important chart for gold in 2016:

About the Author

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turd [at] tfmetalsreport [dot] com ()

  28 Comments

AGAU
Mar 8, 2016 - 9:50am

great stuff thanks

great stuff thanks

amarula4
Mar 8, 2016 - 9:55am
Blythesshrink
Mar 8, 2016 - 9:58am

oh look, just before the 3pm

oh look, just before the 3pm (UK time) London Fix, the world's silver holders have decided to dump a large amount of silver for no apparent reason.

Marchas45
Mar 8, 2016 - 9:59am

Ok!!!

It's 4th, Right ??????? Dang I even waited for 6 minutes. Lol Keep Stacking

O! O! Are we heading down again. Maybe I'll be able to spend my roof fiat after all. Lol

Benitho
Mar 8, 2016 - 10:00am

1st 10$...

...kick in the behind happening right now. As always, waterfall style... - this is getting kinda funny, 10$ seems to be all they can do right now.

B.

Blythesshrink
Mar 8, 2016 - 10:00am

Yep

Even though we've seen it a million times, it's still enough to deflate your spirits.

WHILE the USDJPY was falling 30 pips, gold is driven $10 lower. CLEAR manipulation move ahead of the PM fix.

Grotesque.

canary
Mar 8, 2016 - 10:02am

The criminals don't look at fundamentals (USD/JPY)...

...any more. They're desperate to do something.

canary
Mar 8, 2016 - 10:11am

OI (final)

Gold +6507

Silver -1287.

LostMind
Mar 8, 2016 - 10:16am

Top 10

Watch out below....

s1lverbullet
Mar 8, 2016 - 10:18am

Miners

Getting kicked in the nuts this morning. I still think we will consolidate sideways for a while if we can't break 180. Looking like we are about to get our correction. We will see how deep it goes. I think they are going to have a hell of a time this go around trying to flush the specs.

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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