I could never understand why ETF’s were ever allowed in the PM’s….after all they were designed to get more people into PM’s, the last thing the Gu’mint wants…so why allow them.

Well it seems they were allowed, to do exactly that…they may say they trade PM’s, but I seriously doubt they do, and certainly not how they are supposed to. I think they are full of hybrid paper derivatives.

I think there allowed because they would be able to deflect a large portion of the money away from actual PM’s and actual Shares.

GDXJ’s problems are letting us all see a glance, of what they are upto and it don’t look clever.

North Korea Threatens US With “Super-Mighty Preemptive Strike”

http://www.zerohedge.com/news/2017-04-20/north-korea-threatens-us-super-mighty-preemptive-strike

Pardon me for asking, but just what is so SM bullish about the above ….there is more common sense in Rikers on a full moon, than on Fall st.

I would if I could. I look occasionally at after market action, and its always nothing, or practically nothing, price volume etc. The spread between buy and sell is usually much bigger than normal too, which inhibits action I guess.

@Maddog,

Re 4:56, part,  “Van Eck (creators of the “GDXJ”) has been forced to stop buying junior gold stocks.”

Comment:

Many years ago, before ETFs, it was commonly known that regular Mutual Funds could NOT buy positions in small cap miners, because they buy too much at one time when they invest, and were only able to buy invest in ONLY the big caps like ABX $23bil/cap, NEM $18 bil/cap, GG $14 bil/cap etc.

I also remember years ago before ETFs, in the early 1990s I think, when we saw the big blue chip miners going up, we knew the mutual funds were buying in, a bullish sign. I think any miners with market cap under $500 million is no place for bulk money bets. Even under $750 mil.

During the past month, the BEST percent AU movers were between $1.7 bil/cap and $4.7 bil/cap

Sooooo, if GDXJ like a mutual fund, was buying big on SMALL CAPS? That would explain the REDICULOUS high steep price rises in Jan thru July Aug 2016. It would also explain the REDICULOUS deep lows end of 2015, and the extreme highs in 2011, that led to those lows in late 2015.

The same story for GLD. People should NOT be able to willy ninny click here, and buy and sell physical gold thru a middle man that is then OBLIGATED to buy and or sell the PRODUCT for a crowd of people that don’t actually want to own the gold. (like futures)

They, ETF buyers, are just riding or betting on a price, and they unwittingly contribute to making all moves up or down more extreme than they normally would be. Many years ago I made a post of how the master planners promoted all things normal, to be abnormal, and made all abnormal things the norm.

For example, its normal to hate certain “situations” so they pass hate crime laws to discourage and punish a normal function.

Gold putting up one hell of a fight at the 1280 ish level. Beginning to doubt if they will get it below the 1250 by next Wednesday.

Slapping sister Silver around, but still holding the 18 line….

Xau, Hui, EVEN GDXJ in the Green. Whats up with that??!

PM’s bloodied up a little, but not out of the fight.

For the next few days, if you have the time, I would appreciate you posting the after market buying of  those miners. I want to scour the list over the next few days so I can do a little nibbling next week on Wednesday (Options Expiry)

Got this feeling they should be pretty close to some lows by then, and I look for a turn around in the PM’s. The national budget will be front and center next week as they once again have to extend/overhaul/kick the can again. I think the stock markets are going to go into a frenzy over all the uncertainty, and there is a good chance Gold and Silver will take an upward shot.

Yep, looking forward to doing a little shopping next week. Probably almost as much as  AuGal looks forward to a Shoe Sale. 🙂

Every once in awhile I can talk the gals down at the Silver Dollar Café to do a little dance for me when they bring the coffee. Usually some kind of ‘Shag’ or a little ‘Dosey Doe’.  And on my birthday they even let me get up and dance with them.

Now about that ‘biscuit’, I’m not sure which side to butter and which side do I put the blackberry jelly on? 🙂

There’s only one way to beat the bastards. Buy the physical and shares (after the crash) and stop playing the derivatives (which do nothing but sap primary demand).

Simple

Cheers

Me too! Until lately, we could always count on the “switch” being flipped on and a rally starting…after a long bear run that made gold seem hopeless. But now, the wraps are off–the fraud and manipulation are shamelessly on display for all to see–with no threat of penalties…no official oversight.

Rick’s Pick for Thursday—[click to enlarge chart]

$SIK17 – May Silver (Last:18.150)

The big news lately is how awfully the junior miners are acting now that Van Eck (creators of the “GDXJ”) has been forced to stop buying junior gold stocks. You wonder why the juniors are now in a completely bifurcated market and all you need do is look at the names in the GDXJ that are considered the “anointed ones” while everyone else aspires to be lest they wind up as “orphans” (housed and fed but without sponsorship) or the “zombies” (no food, no shelter, reviled by all).

The bankers created the ETF’s to capture market share but more importantly, they created ETF’s to capture FEES and to corner the bid-ask spreads that allows them to take a haircut on every ETF transaction that occurs. Applying this line of thinking to the junior gold miners and explorers, back in the days before bankers took greed to a new level, the junior mining space had access to ample funds by way of the junior resource brokerage firms such as Canaccord (before the “wealth management” transformation), Yorkton, Haywood, Fraser Mackenzie, Union Securities, and Mackie.
Private investors would forge relationships with the resource broker and if he/she wanted to invest in the junior exploration sector, his/her only access would be through the open market or indirectly through a mutual fund or through private placements.

The conduit to the market was not guarded by a gatekeeper called IIROC until the banks decided to exert pressure and then once achieved , the big five Canadian banks squeezed the little firms out of business by creating the money-draining resource ETF’s run by ex-bankers whose billion dollar funds would inevitably find their way into the bank-led underwritings formerly the specialty of the smaller boutique brokers.

Watching the lag in junior miners despite a move over $1,290 in gold is painful but now you know why. The Van Eck GDXJ ETF is a $5 billion fund in a $35 billion junior mining market and there just aren’t enough names to go around. This is why I try to have a basket of my own juniors rather then the ones owned by the ETF’s because once you are in the GDXJ fund, you are slave to the macro trends and victim to the inevitable moment where you may get ejected from the fund and 18% plus of your issued capital is thrown on the market for sale. In fact, inclusion of your company into the GDXJ has been transformed into a “Sell Signal” because it is the second-greatest liquidity event in a company’s life, the first being a takeover by a major.

end

As good as an explanation as this is, it does not deal with why the leverage ratio of stocks over metal has gone haywire. Stocks will normally move at anywhere from 3 to 10 to 1 against metal…in BOTH directions. Juniors way more….

Currently we are running 1 to 1 or less on the upside, but at the old rate on the downside.ystydy being a fine example….Hui down 3.6 %, Gold dn 0.9 % …4 to 1 !!!!!

So with the knowledge some lunatic is happy to dump 70 tonnes of Gold in a minute 2 days running, which can only be the scum…it looks safe to say that the scum have found a way of capping the miners gains and maximising losses….the GDX seller ????

What ever are you talking about?  🙂

I know nothing about Maui.  I’m on the next island to the right, in the Puna District.   Here we grow Puna Butter. (Budder?)  My friend has a medical permit and bakes:

If you want the full islands tour…

Maui Wowie in the tea.

Jeebus, mellow him in between the seat cushions before 8 wouldya.

Mango Tea

Hula Girl coffee

What it’s like to hold Japan’s super train golden ticket

Japan proposes exporting MagLev to the US NorthEast Corridor between Washington, DC and New York.  The bankers will be able to get to Washington in only an hour to buy their wishes!

For you mainland insomniacs.. I know it’s late there, but we’re on Hawaiian Standard Time here.  The Merrie Monarch Festival starts tonight with the ‘backstage’ entertainment tonight.

Thur., Fri., and Sat. nights are the hula competition.  This is the premier cultural fest of the year in Hawaii.  Many years in the past, yours truly was responsible for bringing TV coverage of this event.

Schedule is here:  Click the link below the schedule for the live streaming TV coverage

http://merriemonarch.com/live-streaming

Was a story about a muslim couple. Unlike europe who is to chicken to go after them for violence a couple had their kids removed from the CPS. Yes even in a santuray state. Apparently there was domestic violence they may call Shaira in their country and now the man is no longer allowed into the home until he completes anger management classes. I guess the reason they took the kids was that the wife defended hers husbands right to hit her but she changed her mind in order to get her kids back. She wasn’t innocent either and took 300 from his wallet which started the fight and wasn’t severly injured or bruised. They will find again like that doctor who was doing female genitial mutalation  whether they do it here or take them back home they will also have their children taken from them and charged with child abuse.