“The only time I commit to conspiracy theories is when something way retarded happens. Like Lee Harvey Oswald acting alone. Or when 19 radical Muslims armed with box cutters and zero ability to fly a commercial airliner managed to bring down three buildings with two planes in New York City” –Joe Rogan: American stand-up comedian and commentator This one’s a [...]
The currencies of most of the developing nations are being routed. I have an overall theory about why this happens. They are set ups. There is literally a parasite cartel, or guild, that promotes and exploits these situations. Take for example Argentina, where the guild is adept at promoting a government that employs poor economic principles. […]
In our podcast, to be posted separately, Lee Adler thought that Fed could very well taper next week, but that it would come back to haunt them. I am doubtful about another taper, primarily because there are severe crises going on in developing country markets and economies. If a taper is forthcoming that situation will […]
Monday’s flash crash in gold has predictably brought about commentary from the gold community. Unfortunately, it appears that many of the folks who normally do their homework on gold activity seemed to regress into a pattern of blaming these dumps on the Fed and/or bullion bankers. Few, if any, commentators are looking at the actual reported data, such as the bankers participation report and commitment of traders, which points the smoking gun at speculators — or conceivably even a whale. I use the term “slinger” to describe the activity.
The WinterActionables State Media Award for 2013 goes to Newsweek for its absurd January 2013 cover (below). To be fair, it was published before the International Business Times bought Newsweek brand and its products last August. Runner up for worst of the worst in 2013 is state television MSNBC’s Chris Matthews “Obama on Mt. Rushmore” gibberish from last February.
The latest banker’s participation gold report covered holdings as of Dec. 1, 2013 with PoG at 1251. The US bullion bankers reduced their shorts by about 1,177,000 ounces, and ended the period with net longs of nearly 5.75 million ounces, another record. Their short position is a very modest 14,489 contracts versus a whopping 71,897 longs.
At the end of a severe bear market, or at the end of a frothy bull market, one reads many post-facto articles. In yesterday’s Wall Street Journal, for example, there was a ring the bell article about the complete and total liquidation of hedge-fund and speculative interest in precious metal stocks. It mentions that money under management […]
Travesty- n: “a false, absurd, or distorted representation of something.” Despite the knot in my stomach, I’m proceeding directly to the available Comex forensics. The gold and silver Commitment of Traders report is highly revealing. The data is for Tuesday, Nov. 26, when gold was trading at 1,243. The settlement price on Monday was 1,222. […]
Several largely overlooked items came out of China this week. First, the Shanghai Exchange is moving toward trading in petro-yuan. As we have seen with gold, Shanghai is a very effective delivery based market. This helps set the stage for Saudi Arabia to disengage from its 1973 Petro-dollar agreement, which essentially involves selling oil in U.S. dollars in […]
Obamacare illustrates in spades what happens when you have corrupt government run by special interest lobbies and cronies. Now every manifestation of this is being revealed front and center, and it’s just one more knockout blow on a growing list of things that will bring the country down. Most of the looting conducted in recent […]