Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Massive Attacks On Gold Reek Of Desperation - Dave Kranzler/Rory Hall

IMG Auteur
 
 
Published : April 21st, 2017
751 words - Reading time : 1 - 3 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
[titre article pour referencement]
0
Send
0
comment
Our Newsletter...

The paper silver open interest on the Comex is at all-time highs. The previous all-time high was 224k contracts when the price of silver was pushing $50 in 2011. The current paper silver open interest is 229k contracts with the price of silver at $18. At least the degree of fake silver open interest in silver was more appropriate to the price level at which silver was trading in 2011.

Having said that, the current paper silver open interest is entirely inappropriate relative to the amount of silver reported to be held in Comex silver vaults. 229 thousand silver contracts translates into 1.15 billion ozs of paper silver. That number represents about 37% more actual silver ounces produced by global by mining companies in one year. Compare that paper representation of silver to the actual 193 million ozs of silver reported to be held in Comex vaults, primarily “held” by JP Morgan which is reporting nearly 102 million ozs of silver in its vault.

Notwithstanding whether or not those 101 million ozs of silver are actually sitting physically in JP Morgan’s Comex-designated custodial vault (and much of it has likely been hypothecated), the amount of paper silver issued primarily by Comex bullion banks is nearly 6x the total amount of silver reported to be held in Comex vaults.

But it gets worse. The amount of silver that has been designated as available for delivery, or “registered silver,” is only 30 million ozs. In other words, the amount of paper silver issued by the Comex is 38x greater than the amount of silver made available to be delivered to the holders of those silver contracts.

The point here is that the Comex is likely the world’s most fraudulent market. In fact, It’s inappropriate to refer to the Comex as a “market.” The Comex is nothing but a mechanism by which the Fed, in conjunction with the Treasury’s Exchange Stabilization Fund and the Comex bullion banks, exerts control over the price of silver.

The degree to which the Fed et al has to exert fraud in order to contain the price of silver is reflected by the absurd imbalance between paper silver contracts issued in relation to the amount of the underlying silver available for delivery. In any other commodity sector this situation would be labeled “criminal.” With silver and gold it’s labeled, “nothing to see here, move along.”

As with silver, the trading patterns in gold reflect a high degree of desperation by the bullion banks to contain the price and demand of physical gold. Interestingly, right now most of the blatant manipulation appears to be connected to the London p.m. gold fix activity on the LBMA. We believe it’s evidence of a growing shortage of physical gold available to deliver into India, China and other gold-buying countries. We explain this view in detail in today’s Shadow of Truth episode:

 

Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Visit The Daily Coin website and The Daily Coin YouTube channels to enjoy original and some of the best economic, precious metals, geopolitical and preparedness news from around the world.


24hGold - Massive Attacks On G...

Dave Kranzler spent many years working in various Wall Street jobs. After business school, he traded junk bonds for a large bank. He has an MBA from the University of Chicago, with a concentration in accounting and finance, and graduated Oberlin College with majors in Economics and English. Dave has nearly thirty years of experience in studying, researching, analyzing and investing in the financial markets. Currently he co-manages a precious metals and mining stock investment fund in Denver and publishes the Mining Stock and Short Seller Journals. Contact Dave at dkranzler62@gmail.com.


The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

 

Data and Statistics for these countries : China | India | All
Gold and Silver Prices for these countries : China | India | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
War Games: China Say It Will Prevent US From Attacking North Korea ...
18 AugRckpyle1
Tough talk from China. Ask yourself, would China be willing to see Beijing become a crater if it attacked the US to aid NK? No, tough talk is cheap...
NY Fed President Wants Consumers to Tap Home Equity: Didn’t We Try ...
17 Augmikejuha
As a prudent investor, I eliminated all mortgage debt in January 2009. When I paid off my loan with Bank of America, they initially refused to tak...
Total Eclipse
19 AugThe Recusant
"I’d like to hear [sic] an argument..." Historical statues typically honor or remember people of greatness, the beneficial contribution th...
Can a government surplus cause the economy to tank?
18 Auggfs543
Your dissection is incisive, Steve. You weren't refuting just this one writer. You were beating up on popular Keynesian fallacies.
Can a government surplus cause the economy to tank?
17 AugDRGEORGE
Thank you very much for that Steve. But please just don't 'leave it there'. The author of that article apparently intends to expand on that bullshi...
Smoke and Fire
16 Augaccording0
some things happen without collusion do you think that the stupid little rats of blm and antifa dont get paid to help wreck our socie...
Smoke and Fire
16 Augaccording0
James. Even a believer has to leave Zoar before he starves to death. Kudos for having the fortitude to write this.
The Folly of Democratic Socialism
16 AugFalconflight
It this Amerika, I reference it as Krony Socialism.
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS