| The JP Shuffle Act III |
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Last night's Zerohedge report below on the musical chairs taking place NOW at the COMEX is a must read. The paper players are in PANIC mode -- driving the price down $500 encouraged just enough gold investors to turn their paper into physical, and start the run we all knew had to come. In fact, as The Telegraph reports, 43pc of investors in the UK have added to their silver and gold holding since the price plunge.What a classic 'call'. A COMEX blow-up is assured at some point soon, as are more busts, bankruptcies and bank bail-ins; fortunately silver and gold in bullion form is bullet proof. Contact me for the best pricing and performance. Cheers!
Turk: Unprecedented & Historic Events In Gold & Silver
It is important to note that while gold backwardation lasted a few days in 1999 and again in 2008 -- both of which marked major bottoms and key turning points in the price of gold -- we now have 31 trading days of backwardation and a gold price that has already risen $135 from when the backwardation began. It is a situation that undoubtedly will go down in the history books. What we are seeing today is truly unprecedented and historic."
The Color-Coded Comex Crunch: Behind The JPMorgan Golden "Musical Chairs" Scramble
The Comex gold crunch has gotten so confusing, nothing short of a color-coded schematic can do it justice. Moments ago the Comex reported that JPM doubled down once more and received a third consecutive infusion of over 43K ounces from HSBC, just as we predicted last Thursday when we said, that "with HSBC moving 43.4K oz from Registered to Eligible, we would expect either another major Comex withdrawal in the next few days from HSBC, or this is merely HSBC making room for further gold "requests" by JPM." It was the latter to a tee.
Commodity Trader: 'Huge Run' on Physical Gold
GATA Dispatch: Bloomberg News television today lets Mihir Dange, co-founder of commodity trading firm Grafite Capital, remark that his company bought physical gold eight weeks ago but still hasn't gotten delivery yet. Dange says "there's a huge run on physical now." Dange's comment begins at the 1:30 mark in the video here:
Happy To Help ..
Now is NOT the time to be complacent. Those that have been right about this market (Sprott, Sinclair, Turk) believe that these recent paper price attacks were a signal that the coming financial hurricane is closer than ever, and that physical silver an gold ownership is an absolute necessity. We currently have a healthy supply of gold and silver products, in all shapes and sizes. Please contact me for the very best pricing and discreet, informed service.
Kunstler: The Dreadful Summer Wind
Historians will remark that it was a beautiful August with bright days and cool nights for sleeping, and the Hamptons were ablaze with self-satisfied egos, and that nobody was paying attention to all the mischief that was set in motion the previous spring, not to mention the many seasons of bad behavior that preceded it. And when they returned from vacation, lo, the world was in crisis. What a surprise.
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Sovereign Exchange International Ltd.
Steven Merrill, President
www.sovereignize.net
phone:
778.835.7667
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Engage a Rich New Audience; Reconcile to your Private Account; Settle for Metal at Any Time. The Sovereign Exchange was founded by Steven Merrill and a small network of individuals from across British Columbia with a vision to embrace Austrian economic principles and provide a sound and stable payment facility than be trusted for commerce and used to store wealth.
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