I asked John Williams to spend a few minutes with us and help us review some of the basics. We cover the BLSBS, the CPI, GDP and the potential for hyperinflation. No one knows more about government statistics (and how they're manipulated) than John and I am very grateful that he took the time to help educate us.
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71 Comments
The Green Manalishi
Jun 29, 2012 - 3:35pm
murphy
Jun 29, 2012 - 3:38pm
The Green Manalishi
Jun 29, 2012 - 3:40pm
bam
Jun 29, 2012 - 3:53pm
Great News!!
I have been worried lately that JPM's Ina Drew would be forced out and not receive the compensation she most richly deserves given the overall performance of the firm these last few years.
But no need to worry my free market friends, Ina walks away with her 21.5 million! Fortunately for the sake of all that is good and right, she was "allowed to retire", thereby securing her well "earned" booty....errrh savings.
https://www.bloomberg.com/news/2012-06-29/jpmorgan-cushions-drew-s-retirement-with-21-5-million.html
WOWOWOWOWOWOWOW
I WAS EXPECTING A POSITIVE AND HELPFUL CoT. WHAT WE GOT IS TERRIFIC!
GOLD
For the reporting week, price fell about $49 and total OI dropped 4,874 to 413,618. Now, check this out: The Gold cartel net short position was reduced by 19,531 contracts to just 144,170 and a net short ratio at 1.93:1. Again and for perspective, as recently as 2/28/12, the Gold Cartel net short ratio was 2.69:1. And check out the idiot specs: Large specs added net short 13,785 and the small specs added net short 5,746. Gee, I wonder who got fleeced (AGAIN) today??? Bahhhh, Baaaahhh. Baaaaaaahhh.
SILVER
The silver CoT is simply fantastic. Remember for context that silver plunged $1.55 and OI rose by 6000 contracts on 6/21/12. Even though OI fell back 3000 on Tuesday, check out the changes for the reporting week!
The Silver Cartel decreased their net short position by 4,943 contracts. They are now net short just 12,011 contracts and they have a never-before-seen-by-Turd net short ratio of 1.25:1. Again and for perspective, on April 5, 2011, The Silver Cartel was net short 56,414 contracts and held a net short ratio of 2.69:1. Even on 2/28/12, they were net short 44,593 and had a ratio of 2.32:1.
Remember, the final surge in the month of April 2011 was almost entirely caused by Silver Cartel panic short covering. They then realized that hey were trapped and have engineered the 14 months since to buy themselves time to cover in a more orderly (and profitable) manner. They are almost done as their net short position has now been trimmed by an amazing 85%.
And here's one more for you: On 4/5/11, The Silver Cartel held 33,413 contracts long. This was 23.36% of the total open interest. On 2/28/12, they still held just 33,802 long but this was now 29.17% of the total OI. As of Tuesday, The Silver Cartel how holds 48,591 contracts long. This is an increase of 44% since 2/28/12 and it represents 38.51% of the total open interest.
HERE IS YOUR EXTREMELY IMPORTANT TAKEAWAY: THOUGH A STOP-GUNNING PLUNGE THROUGH $25 IS STILL POSSIBLE, WE ARE VERY, VERY CLOSE TO THE BOTTOM IN SILVER. FROM THERE, WE WILL ALL EXPERIENCE A MOVE HIGHER THAT WILL BE BREATHTAKING.
survivalwstyle
Jun 29, 2012 - 4:09pm
7th heaven
right here, right now. this CoT and todays action has me hopefuLLy optimistic tOO turd. lOOking forward to listening to this interview. have a wonderful wEEkend.
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Admiral Ag Bar
Jun 29, 2012 - 4:32pm
Thanks Turd!
Standing by with cash hoping for a vomit inducing plunge before the rocket ride up!
Larry L
Jun 29, 2012 - 4:38pm
I need a nap
I hate to say it about John Williams and his expertise in economics but, I think I fell asleep during this hot and humid day while doing something yawnnnn....where was I? Where am I? I'm sorry I need to take a nap now. Nothing new here so I guess I will move along...yawn
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