For more than 6 months I have been gathering data released daily by the COMEX concerning delivery notices and inventory levels of gold and silver. This data must be captured and recorded each day as there is no database of historical data available to the general public.
Studying data on a daily basis is not conducive to seeing the big picture so I have
just completed a study of what can be discerned by looking at the entire 6
months of data. The results are very revealing.
(snippet)
I estimate that as much as 50,000 tonnes of gold has been sold that does not
exist. That is equivalent to all the gold reserves in the world that are yet to be mined, or put another way, 25 years of gold production. That is the grand-daddy of all short positions! As physical market shortages lead inevitably to exposing this scandal there will be the grand-daddy of all short squeezes and the granddaddy of a bull market in precious metals….but only in REAL physical precious metals and quality mining equities, not paper promises for physical metals. It would be a tragedy for an investor to have correctly identified the huge investment potential to wind up with nothing. It would be like winning the lottery to find that someone sold you a counterfeit lottery ticket!
More Here..
Well, I read every word. Alot of it is over my head because it is not my area of study nor my mode of investment. I wish however I had gold and plenty of it. It seems to me that this person has done good research. I have always thought it strange to buy gold and have only paper to show you own it. This is another great tragedy in the world. Again people will lose their savings because of a bad system of market services. Collapse grows closer.
ReplyDeleteI need to call some of my family members that I know have bought gold and warn them that they must have the yellow stuff or they may have nothing.
ReplyDeletejoe
ReplyDeleteyea i bought gold on a gut feeling
they wont extend uenployement
they wont show you any truth on the news
there are no jobs in the job bill except the hand job
there is no real estate turn around
the people in goverment not the poor bastards on uenployment are the true lazy bums that sold out america
people are not looking to help these days as much as to scew you out of money
we are bankrupt and only a fool could not see it
2001 to 2008
my taxes doubled 5 to 11 thousand
were it use to be an extra 500 dollars was alot of money
theres going to be 2 kinds of people
people that prepared and the people rioting
moving into fema camps
i trust in my goverment
to start wars bankrupt me and sell me out to another country
gold is real and paper is paper
when the sht hits the fan ill take my gold and food and you can keep your paper
im very happy
you people that have jobs get ready to lose alot soon and join the club
welcome aboard
Jim Willie, author of the "Hat Trick Letter" has been contemplating this very issue for over a year. He states that the COMEX is poised for a catastrophic collapse. He is a very good analyst IMO. It will be a sad day for unaware investors when COMEX defaults on PM paper. But it will be of on surprise to some as numerous analysts are now predicting this will occur. Just another scam in the crooked markets which may be uncovered shortly.
ReplyDeletescott
ReplyDeleteI can only hope that I have the skill sets to get through the tough stuff. I grew up poor and am a survivor. Momma could do magic in the kitchen with little to know food, it was like she had Jesus skills or something. I inherited that in many ways. I don't have a lot of cash or gold, but I can survive without hurting anyone and can probably assist in taking care of others. I dread the next few days when all of the people who took a bath on their 401k's a year ago and panicked cashed it in and bought gold (the Paper kind) and will finally have absolutely zero left. Man that makes me terribly sad for them. All of my money is tied up in developing countries in oil etc. I have no gold. I want some it is just not feasible at this time. I would give the gold panic over this less than 14 days. What do you think?
Just accumulate it. Dont sell it unless you need to for food or gas.
ReplyDeleteI agree with the above post. But also you should have bags of pre-1965 silver coins in case you need to purchase something small. And keep it in your house hidden in several places. Don't keep it in a safe deposit box. What's the point of owning gold unless you have control over physical possession. There's no way for Joe Sixpack to audit Fort Knox.
ReplyDeleteIf Comex collapses, where will people store excess wealth?
ReplyDeleteBut wealth is very abstract anyway.
I think Ralph Waldo Emerson said that money was only a sign of wealth, not actual wealth.
I guess he was right. Since we've been off the gold standard, it's been volatile and greedy types of predatory capitalism that dominate America.
9:46 is HILARIOUS......bags of it, huh? Let me see, you are gonna go down to the five and dime and they will look at you like "you want how much for that DIME?"
ReplyDeleteROFLMAO!!!!
Yes, Mr Grocer will look at you gleefully when you arrive at his place of business, hand him a fistfull of mercuries and go on your jolly way with your goods, meanwhile he is celebrating with his worker that they have made another sale,LOL.
You then arrive home to find Pedro on top of the Mrs shagging in the bedroom, where he takes his 38 out and tells you "show me ze monee gringo, this is are countree"
I just love all these fairy tales of the silver and gold bugs of how they will emerge unscathed and just go about thier collective jolly way as they have special powers,HAHA
You guys do not even comprehend the level of theft that was perpetrated on you and most of the industrialized world. So private interests who are in charge of printing money in every European country and North America convinced the crooks-in-charge first to print fiat currencies and then to sell gold. So they exchanged your gold for the papers they printed and that's the end. For instance, since 1980 Canada sold 459 tonnes of gold with remaining 3 tonnes in the country's reserves. If you doubt, check it out at www.gold.org. Create an account and search for: Major_changes_in_central_bank_holdings_2009.pdf.
ReplyDeleteOne thing this great site has taught me.. NEVER buy "paper" gold! Only the shiny metal in your hands will do. Tell the people you care about to NEVER buy paper gold. It will ruin them. Also, I am not buying pre 64 silver. I buy new silver American Eagles for that. Good luck to all.
ReplyDeleteThis article is excellent and kudos to the editor for finding it. Jim Willie, Eric deCarbonnel and Jim Sinclair ("Mr. Gold"), have written about this issue for some time. They've long argued that there is little physical gold held by the COMEX or the London Bullion Market Association (LBMA). They have repeatedly said that gold ETF's (GLD, etc.) will be worthless--there is NOTHING backing them up!! All three have have made it crystal clear that gold MUST be held in physical form.
ReplyDeleteI truly believe that gold and silver will have value in some circles. The exchange is the problem. For example, I have a garden, I heat with wood and can survive with little to no electricity if need be. When the bottom falls and my money buys little to nothing I will not except it for produce. I will likely not trade much for gold, I will trade for a new chain for my chainsaw, chickens, eggs, gas, salt etc. I will have little interest in gold. I will accumulate some through other skill sets like repairs on roofs, herbal remedies, knife sharpening, skinning and tanning hides etc. It will take a long time for the world to calm down after this breaks and I will only need gold for luxuries like to pay some taxes, bribery, buy minor construction supplies and possibly feed. All of this a guess really.
ReplyDeleteHaving physical gold and being able to "spend" it may be a problem. If the government decides to make it illegal for private citizens to own gold, and requires you to hand it over to them you'll have a problem. You won't be able to use gold to buy necessities or you may be caught and end up in fema camp. If you just hide the gold and hang onto it so that you have something of value after the depression, which may take many years, then you still have to explain why you have gold when it was supposed to have been turned over to the government.
ReplyDelete11.08 seems to me you you have none and your a little bitter about it.As one of those out to lunch Gold and Silver bugs let me counter HA Ha
ReplyDeleteHa Ha will see whose laughing i a year from now.Paper lions or Gold bugs.
I will buy your silver or gold at a set competetive price and you can exchange that for the same value in goods like food or gas or even beer at my store. These guys that post that store owners wont accept gold or silver are foolish. Money is money. PM are better for me than paper. I'm just waiting.
ReplyDeleteLet me make my previous statement more clear. PM's are valued by weight and not value on the coin. You will get many times more value for your silver quarters and dimes than what is stamped on your coins. Its about weight, not actual value. Just dont do business with merchants that cant change with the times.
ReplyDeleteDo not worry about the Gov't confiscating your physical gold.
ReplyDeletea) they should never even know you have it ( you bought a $5 gold piece for $200,00 cash from
a dealer - you signed nothing; trail stops there.
b) If things truly get that bad and you are forced to pay something to state/gov't ( taxes etc.) you can merely go thru what amounts to a bookie to sell your physical gold for whatever
exchange you wish
c) One of the greatest moneymakers of all time
is still illegal & even " small time" drugs like Pot are bought and sold and traded every day for everything under the sun. These people who automatically assume the only way to make money is to have a "real" job & deal with a "real" bank
are forgetting this country has a HUGE black market already in place.
It will get much bigger if need be.
PM has been money for more than 5000 years. A ounce of gold will still buy that top of the line suit as it did in 1913. Can you say that about paper money. When the COMEX crashes supply and demand will take over. I've done got my stash of silver.
ReplyDeleteAs for you 11:08 I'm going to be the one laughing at you when your begging for food! Keep watching your TV and beliving everything it tells you like a good surf or slave. I will just use the $100 bill to wipe my butt here in a year or two. But better yet im buying everything I can now while it still has value.
Silver Eagle now goes for $20. Try to go find some! To me that is a deal knowing what I know.
Ta ta 11:08 Keep dreaming!!!!
To 1:33 - you made a lotta great points.
ReplyDeleteWell we done did tryed to tell them about 4 years ago didn't we?
ReplyDeleteWe kept telling everyone we knew that Gold was the only way to keep your money.
It's that simple folks, take it from a simple farm boy, that if you don't want other people confiscating the paper your holding, you need to convert it to good old solid ass gold.
The only thing is it's painful keeping all that gold up your rectum all the time.
So the government fucks you one way or another kids.
Jethro, you're a riot!
ReplyDeleteIn the Great Depression I read that no one accepted gold for purchases. Is that because they were afraid of the government after the gold confiscation? Or was it some other reason?
ReplyDeleteDuring the great depression, what kind of gold was confiscated? Jewelry?
ReplyDeleteDuring the great depression, only Gold made out of real Gold was confiscated, so your fake gold was totally safe.
ReplyDeleteIt will be very interesting to see how gold and silver play out.
ReplyDeleteYou need to differentiate between buying physical gold and buying a piece of paper that says you own a share of gold somewhere. The piece of paper is probably worthless. The best bet is to have jewelry, gold and silver, for barter. Actually, better than that is to stock up on food and water since you can't eat a necklace.
ReplyDeleteVery good post. I have been searching for this post since many days. Now I have implemented the same for my site.
ReplyDeleteI appreciate your post, thanks for sharing the post, i would like to hear more about this in future.
ReplyDelete