If the source is corrupt, the data must be as well. The nature of counterintuitive silver price action, secondary to ongoing, and blatant price manipulation lends itself to the swirling dreams of conspiracy and encourage those who choose to ignore the trail of bodies left behind by the powers that be. Whether it’s daily volume, open interest, or warehouse data released by the CME… Or the dry, granular electronic schedules submitted by the largest traders and compiled by the CFTC for public consumption - the Weekly CoT Report.
COT Silver Report - June 24, 2016
It's 1:30 AM MST on Friday, June 24th; i.e., the most important day in global financial history. I only slept for two hours; from which, I was awoken by a client - for the first time in five years at Miles Franklin - wanting to buy gold NOW. The reason, of course, is that what I have vehemently predicted for weeks has come true, despite unrelenting propaganda otherwise. Not to mention, pervasive PM community belief that "they" won't let it happen; because, as Josef Stalin once famously said, "it's not who votes, but who counts the votes that matter."
While the world awaits the BREXIT vote, the COMEX Registered Silver Inventories reached a new record as it pertains to leverage. Matter-a-fact, the number of owners per ounce of Registered Silver is higher than gold. In the beginning of the year, COMEX Gold Registered inventory owners per ounce spiked to over 500 to 1.
Jeffrey Nichols of Rosland Capital, returns to the show with his latest insights on the precious metals sector - gold could top $2,000 possibly in 2016 or 2017.
Our guest notes that the founders of this nation: Washington, Franklin, Madison and Jefferson etc., were "Gold Bugs."
A new gold bull market could lift silver and related shares to record levels.
As the smart money like billionaires Jim Rogers / George Soros accumulate gold, tightening supply, demand conditions could boost the prospects of silver.
The world's most useful metal could regain the more traditional gold to silver ratio, perhaps returning to the natural mineral ratio of 10 : 1, sending the silver price north of triple digits.
Escalating investment demand from China and India as well as global central bank purchases remains a positive.
Their tendency to hold the metals intergenerationally, suggests supply will continue to dwindle, amid increasing demand.
Gold and silver offer an exceptional and free insurance policy, without monthly premiums or an expiration date.
If it escaped your notice, there is the small matter of British citizens voting on whether to leave or remain within the European Union on the 23rd June. Being a British citizen (or is that a British subject), I have a vote to cast which requires some thought. However, one other thought is the effect a “Brexit” would have on silver as measured in Pounds Sterling.
It’s Wednesday morning, the day before what could – but as of now, is not expected to be – the most violently anti-establishment election in global history. Which, if it in fact comes to pass, will shake up the global political, social, and monetary order like nothing ever before it. Amidst a sea of propaganda (like the “importance” of Jo Cox’s murder); lies; and market manipulation, there’s no telling what Britons will actually do – particularly as seemingly each hour, new statistically insignificant polls claim dramatic changes in “sentiment.” Moreover, the Ladbroke’s “odds” of a BrExit vote have been longshots. However, the amount of money “bet” on the event is infinitesimal; and thus, could be easily “altered” by those trying to influence sentiment.
There are few guarantees in life beyond death and taxes, but continued currency devaluations, increasing debt, and higher gold and silver prices seem inevitable. Act accordingly.
Bill Gross has mentioned a “supernova” explosion in the debt markets. If $10 – $40 Trillion in debt collapsed down to near its intrinsic value, the shock, panic, and fear could push gold and silver prices into the stratosphere. Act accordingly.
It’s early – very early – Tuesday morning, and it’s one of those rare days when I don’t have something completely urgent, and compelling, to speak of. Don’t get me wrong, the financial world is chock full of urgent, compelling topics. However, at this rare snapshot in time; five hours before Janet Yellen’s semi-annual “Humphrey-Hawkins” Congressional testimony; two days before the BrExit referendum; three days before the COMEX “Commercials” report if they’ve made any progress in covering the all-time high naked short positions that threaten to imminently destroy them; and five days before Spanish Parliamentary elections; we’re stuck in a temporary financial market “time warp,” in which all markets are on manipulative lock down.
According to the figures in the 2016 World Silver Survey, Americans now lead the world in physical silver investment. This is quite an interesting change as India has been the number one market for silver bar demand in the past. For example, Indians purchased more than 100 million oz (Moz) of silver bar in 2008 of the approximate world total of 125 Moz. However, silver bar demand is only one segment of total global physical silver investment. There is also Official Coin demand.