Loading ...To be fair the cretins should at least let the silver miners make a profit. I guess fairness is far from their minds as they peruse their Snidely Whiplash Manual of Skulduggery, Fraud and General Piracy.
Cheers
ipso facto @ 17:34
And that’s as of Tuesday with a bunch more covered since then. Comex silver is setting up nicely as long as the asshole bankers don’t get their collective finger stuck on the sell button again when it gets back up to $18.
Cheers
Buygold
Yeah that’s a good chunk of silver shorts covered. We don’t have much good to say about silver lately. I don’t think most miners are even making a profit.
Massive last hour rally in the SM
On the other hand gold came back from being down $30 to closing flat which pretty much never happens.
HUI got as low as 231 but closed at 240. I think we’re doing OK.
I wish we’d go straight up but this is going to be a bull that tries to buck anyone holding out of their positions, so I guess if we trade we better be nimble, but I do think buying the dips is the right play. Maybe I’m full of shit. I’m wrong a lot.
COT’s are interesting but really only in silver, I would’ve thought there was going to be more action in gold. maybe next week.
https://cftc.gov/dea/futures/deacmxlf.htm
Ten yr. closed @ .76% not exactly a big selloff in bonds to match the SM rally into the close.
Boston Fed’s Rosengren Says Fed May Soon Have To Buy Stocks
https://www.zerohedge.com/markets/boston-feds-rosengren-says-fed-may-soon-have-buy-stocks
maybe he should pop down to New York and ask the Boys and Gals on the desk just how much of all stock ETF;s they already have…..800 pt rally in last 30 mins ….sure ain’t mom and pop retail having a quick weekend punt.
I have 1690 as @ 1 % plus…..they never stop.
It’s everything versus the Fed…..could it be more obvious.
Sick system
An old banker friend said ystdy, that by taking away interest rates they killed the system, it can’t work without real rates and both Europe and Japan have done that.
R640
That Bond Arb…is typical of what blows up, when the mkts are mad and 20 % plus cash bond moves every day are mad…..if we had real journalist in the Financial press they would be all over the Repo story….and as Hook say if it is DB and the Fed are bailing them, or any Hedge Fund,,,,then that is a monster scandal…who ever it is, someone is in deep doodoo
Under normal panics, the bond move could well be a blow off top……but with stocks barely off all time Hi’s, this one might well be different, as stawks have miles to fall and the eco impact is gonna be huge…who is going out to eat, theatre, Hotels,,, fly on holiday etc. All exports from NZ, to China like timber etc….dead,,,nada
heard this ystdy from a Cathay Pacific captain…they had a passenger on a flight with the Virus, all the people within 3 rows are quarantined in HK, in rooms with just a bed and a chair, being fed slops through a slot in the door for next 2 weeks…no TV even,,,,nothing !!!!!
Richard640 @ 14:06
It’s not hard to figure someone is blowing up and must cover, the question is what the reaction is Monday.
Could be like ’87 if the boyz can’t stuff the derivatives genie back in the bottle.
DB is signaling big trouble on deck.
Couldn’t happen to a nicer bunch of assholes.
Chuckle
Maddog-I asked u earlier about the 30 yr bond…maybe u didn’t see it–anyway, now u do-[Captain or anyone else feel free to weigh in]
[in your opinion, what, if any, new implications does this add to an already dire looking situation for world markets?]
It was the fear that this arb would suddenly dislocate in chaotic fashion, culminating in a cross-asset liquidation cascade, that spooked the Fed into activity in September, forcing it to inject over $600 billion in liquidity in the ensuing months via both Repo and QE4.
Which brings us to today, and this morning’s unprecedented move in the Ultra long bond future…
… which has already swung higher by over 10points, is the biggest one-day move in history!
Now, as a reminder, most hedge funds are also clients of JPM, which for the past two months had been urging them passionately and over and over and over again to short the long-dated rates complex:
Bringing Back All Manufacturing Jobs Won’t Matter If Middle Class Needs $175k/yr
In my area the Police make middle class wages. Thanks to generous taxpayers. If you work in a tax payer sheet metal fabrication factory you make maybe $50k in my area. No unions.
If you are a sheet metal duct guy HVAC, for REAL ESTATE, its unionized and they make a lot of money. Like a cop I guess.
I always suspected that because of military contracts, and the greater good for fabricating companies, it was important to keep metals prices and factory labor cheaper.
R640
I’m with you. JMHO but there’s going to be a ton of big shakeouts like we’re seeing today and saw a few days ago.
Gold is holding steady. Silver sucks like it always does until it doesn’t.
Kudlow tried to spur a big rally in the SM but failed – so far anyway.
Unfortunately, holding tight as Sinclair used to say might be the best way to win the pm game going forward. I’m puking nothing. ?
Someone has problems and if this is right it is a monster.
https://www.zerohedge.com/markets/rumors-macro-fund-failure-amid-ultra-long-bond-explosion
Moves like we are seeing daily in the Bonds, have gotta be killing anyone on a bad leveraged trade.
On This Day In 1933 President Roosevelt Declared A Bank Holiday.
At 1:00 a.m. on Monday, March 6, President Roosevelt issued Proclamation 2039 ordering the suspension of all banking transactions, effective immediately. He had taken the oath of office only thirty-six hours earlier.
The terms of the presidential proclamation specified that “no such banking institution or branch shall pay out, export, earmark, or permit the withdrawal or transfer in any manner or by any device whatsoever, of any gold or silver coin or bullion or currency or take any other action which might facilitate the hoarding thereof; nor shall any such banking institution or branch pay out deposits, make loans or discounts, deal in foreign exchange, transfer credits from the United States to any place abroad, or transact any other banking business whatsoever.”
For an entire week, Americans would have no access to banks or banking services. They could not withdraw or transfer their money, nor could they make deposits.
The crisis had been a long time coming.
1933 was the one of the worst years during the great depression and Very few countries around the world were not affected and because of the Great Depression many leaders came to power who may not have done in normal times, a good example of this is the rise of Hitler in Germany where unemployment was high and …
How Much things cost in 1933
Average Cost of new house $5,750.00
Average wages per year $1,550.00
Cost of a gallon of Gas 10 cents
Average Cost for house rent $18.00 per month
Vacuum Cleaner $17.75
A loaf of Bread 7 cents
Newport Boulevard Ladies Hat $1.69
A LB of Hamburger Meat 11 cents
Silk and Rayon Stockings 39 cents a Pair
Plymouth 6 Car $445.00
Health Building Tonic 89 cents
Campbells Vegetable Soup 10 cents
Vintage Radio $52.00
Average Laborers Wage $20.00 per week
Average Cost of new house $5,750.00
Average wages per year $1,550.00
Cost of a gallon of Gas 10 cents
Average Cost for house rent $18.00 per month
Vacuum Cleaner $17.75
A loaf of Bread 7 cents
Newport Boulevard Ladies Hat $1.69
A LB of Hamburger Meat 11 cents
Silk and Rayon Stockings 39 cents a Pair
Plymouth 6 Car $445.00
Health Building Tonic 89 cents
Campbells Vegetable Soup 10 cents
Vintage Radio $52.00
Average Laborers Wage $20.00 per week
Executive Order 6102 President Franklin D. Roosevelt “forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States”.
Some people think this could happen again. During an emergency. Funny though, there is tons of gold in the GLD warehouse that got there as stock investors buy the ticker GLD. Merry Christmas to banks and goats.
A 12” x 12” x 12” block of gold weighs 1,200 lbs. more than half ton. The full load of a half ton pick up truck.
https://en.wikipedia.org/wiki/Executive_Order_6102
Note: People these days are hoarding Stocks, Bonds, and Real Estate, not much Gold at all. Stocks, Bonds, and Real Estate should be included in the national money supply.
And what good is all that so called “money supply” if we still have a $22 trillion national debt? And still have a negative trade imbalance of who knows how much that is?
And funny how the PTB had to save the Dollar and system in the 1970s with HIGH rates, and now they are trying to save the system with LOW rates. Maybe this is the final coup de gras. Won’t surprise me. They are running out of rabbits to pull out of their hats.
Warren @ 11:10
I like to be an optimist about the situation but can’t close my eyes to the other possibilities … very evil ones.
Buygold–I agree-todays stock mkt and gold mkt–and for that matter the $ index mkt configurations are different from 2008-9
The most glaring for me is that they are not buying the $ index–it is down as ZI write a big .850 bps–remember in 2008 the nonsense about the $ shortage–the that foreigners were buying dollars
I know gold looks hopeless agains the PPT but I am convinced a TESLA type move–sometime soon– in gold cannot be ruled out.
TODAY I HAVE A VERY STRONG RL640 BUY SIGNAL–[they have not worked lately but here it is nonetheless]
JNUG is DOWN a yooge 8 bucks or 12% whilst crimex gold futures are UP 60 cents
The JNUG March 13 $50 call is $5.40—the $65 call is 3.40—now that’s with one lousy weeks’ time
the slv March 20 $16.50 call is .23
R640 – you’re right, but let’s see how we close
I agree and wouldn’t put much stock on the HUI coming back, but I’m not sure gold will finish the day in the red. They obviously just threw a ton of money at the SM and weren’t able to bring it positive.
Like I said, I’m probably too optimistic but this SM is different than what we’ve seen since maybe 2008-09’ except gold is stronger.
Don’t you think?
Ipso re 18:17 yesterday
The Optimist would say the bio-weapon was released accidentally but the pessimist would expect otherwise. With what we read about the kings of the universe trying to stabilize the planet’s population at .5 to 1 billion, and where we are now, it is not hard to see this as a test shot at how to eliminate lots of our brothers and sisters. The Bible says ” the human heart is deceitful above all and desperately wicked, who can know it?” That is all I need to know to be the pessimist.
R640
Tks…I see they can’t fill the SM gaps yet….not good.
Just drop the baby on its head
nothing new to see here
Buygold–Maddog–The alibi for the rally is that KUdlow on FOX Biz just now promised targeted stimulous
translated, that means cranking up the printing presses=SUPER BULLISH FOR GOLD–HENCE, the sell-off-the usual counter-intuitive response
OK Guys, I ask again why are the treauries–off their highs–still solidly green?
I remember a day like today about 10 days ago when Trannies came 500 points off their lows but stocks ended the day down abpout 900 pts