Meadowlark
Has No Life - Lives on TB
Since most of my retirement savings is in precious metal futures at the moment. This is one are of good news for me.
ECON Hey Gang! Silver is Over $21!
- Thread starter Sub-Zero
- Start date
kittyluvr
Veteran Member
Here is a video from USAWatchdog on July 8th that explains another aspect of the rise in silver prices.
View: https://youtu.be/9EOPKizJ_Y4
Length 48:57
JP Morgan Will Stop Shorting Silver – Craig Hemke
By Greg Hunter On July 8, 2020 In Market Analysis 199 Comments
By Greg Hunter’s USAWatchdog.com
(Corrected)
Financial writer and precious metals expert Craig Hemke has predicted for the last year and a half that “high demand coupled with low supply will unlock the price of precious metals.” Nowhere has that prediction been more on target than in the gold price. This year, it looks like gold prices will continue to climb with the doubling of Fed debt on its balance sheet, and massive stimulus from Congress to fight the virus lockdown. Hemke explains, “A key driver here is the Fed policy that is going to lead to a 1970’s style of stagflation. . . .”
Now come supply shortages in the rigged metals markets and a reason to end short selling by a big bank. Hemke contends, “The abuse of the markets was so extreme that in the first 15 days of March of this year, they did 290 thousand gold contracts (at 100 ounces per contract). That’s 900 metric tonnes this way in just the first 15 days of March. Then, boom, everything collapses. Here comes the Fed with QE (money printing) to infinity. The mints are closed. The refineries are closed. There is no gold anywhere. The spread explodes to $100. There are articles written that say HSBC lost $200 million in a day . . . and massive losses because they got caught with no physical gold. . . . Everybody is showing up now and demanding delivery from COMEX. They are having to fly in metal from everywhere to try to make it look like it’s working. . . . So, now, these banks, like JP Morgan, which were able to control the market by issuing these shorts and calling it a hedge, are now being called to deliver.”
So, demand for gold delivery is exploding, and that is a big reason for the upward price pressure. What about silver? Why is it lagging behind gold? It takes nearly 100 ounces of silver to equal 1 ounce of gold. That ratio is going to start coming down dramatically, and Hemke explains why, “JP Morgan has been accumulating all this silver and shorting against it as a hedge, managing the price and monopolistically controlling it. Now, the COMEX is a delivery vehicle, and people were standing for delivery. JP Morgan was short nearly 6,000 contracts (of silver) on delivery day, and JP Morgan had to deliver (29 million ounces of physical silver). In doing so, they have now reduced their stockpile down to 120 million ounces of physical silver. . . . Now. JP Morgan is left with a dilemma. They can continue to play this game of shorting or hedging . . . and run the risk of losing another 8,000 to 10,000 contracts (at 5,000 ounces per contract) and see that stockpile of physical silver get cut again. Or, they can stand down and stop shorting. Either way, they are in a jam. . . . If they keep shorting while there is increasing demand for delivery, they are going to lose it all, and once they lose it all, they won’t be able to issue anymore contracts. This is going to allow the price (of silver) to go up. If they simply stop shorting, once again, the price of silver goes up. . . . JP Morgan may not have a choice but to stand down. . . . The demand is going to continue to grow. . . . JP Morgan will make $120 million for every $1 silver goes up. . . . I think they have to stop interfering with the market. When JP Morgan stops shorting silver, you are going to get the change to the question of why is silver not going up?”
Hemke says there will come a time in the markets when there will be no sellers of physical gold or silver. Then, Hemke says the price will skyrocket.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Craig Hemke of TFMetalsReport.com.
usawatchdog.com
Length 48:57
JP Morgan Will Stop Shorting Silver – Craig Hemke
By Greg Hunter On July 8, 2020 In Market Analysis 199 Comments
By Greg Hunter’s USAWatchdog.com(Corrected)
Financial writer and precious metals expert Craig Hemke has predicted for the last year and a half that “high demand coupled with low supply will unlock the price of precious metals.” Nowhere has that prediction been more on target than in the gold price. This year, it looks like gold prices will continue to climb with the doubling of Fed debt on its balance sheet, and massive stimulus from Congress to fight the virus lockdown. Hemke explains, “A key driver here is the Fed policy that is going to lead to a 1970’s style of stagflation. . . .”
Now come supply shortages in the rigged metals markets and a reason to end short selling by a big bank. Hemke contends, “The abuse of the markets was so extreme that in the first 15 days of March of this year, they did 290 thousand gold contracts (at 100 ounces per contract). That’s 900 metric tonnes this way in just the first 15 days of March. Then, boom, everything collapses. Here comes the Fed with QE (money printing) to infinity. The mints are closed. The refineries are closed. There is no gold anywhere. The spread explodes to $100. There are articles written that say HSBC lost $200 million in a day . . . and massive losses because they got caught with no physical gold. . . . Everybody is showing up now and demanding delivery from COMEX. They are having to fly in metal from everywhere to try to make it look like it’s working. . . . So, now, these banks, like JP Morgan, which were able to control the market by issuing these shorts and calling it a hedge, are now being called to deliver.”
So, demand for gold delivery is exploding, and that is a big reason for the upward price pressure. What about silver? Why is it lagging behind gold? It takes nearly 100 ounces of silver to equal 1 ounce of gold. That ratio is going to start coming down dramatically, and Hemke explains why, “JP Morgan has been accumulating all this silver and shorting against it as a hedge, managing the price and monopolistically controlling it. Now, the COMEX is a delivery vehicle, and people were standing for delivery. JP Morgan was short nearly 6,000 contracts (of silver) on delivery day, and JP Morgan had to deliver (29 million ounces of physical silver). In doing so, they have now reduced their stockpile down to 120 million ounces of physical silver. . . . Now. JP Morgan is left with a dilemma. They can continue to play this game of shorting or hedging . . . and run the risk of losing another 8,000 to 10,000 contracts (at 5,000 ounces per contract) and see that stockpile of physical silver get cut again. Or, they can stand down and stop shorting. Either way, they are in a jam. . . . If they keep shorting while there is increasing demand for delivery, they are going to lose it all, and once they lose it all, they won’t be able to issue anymore contracts. This is going to allow the price (of silver) to go up. If they simply stop shorting, once again, the price of silver goes up. . . . JP Morgan may not have a choice but to stand down. . . . The demand is going to continue to grow. . . . JP Morgan will make $120 million for every $1 silver goes up. . . . I think they have to stop interfering with the market. When JP Morgan stops shorting silver, you are going to get the change to the question of why is silver not going up?”
Hemke says there will come a time in the markets when there will be no sellers of physical gold or silver. Then, Hemke says the price will skyrocket.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Craig Hemke of TFMetalsReport.com.
JP Morgan Will Stop Shorting Silver – Craig Hemke | Greg Hunter’s USAWatchdog
By Greg Hunter’s USAWatchdog.com (Corrected) Financial writer and precious metals expert Craig Hemke has predicted for the last year and a half that “high demand coupled with low supply will unlock the price of precious metals.” Nowhere has that prediction been more on target than in the gold...
usawatchdog.com
RUNTIME PLEASE?
Quiet Man
Nothing unreal exists
I did see that video. An excellent one.
If you liked that one, this one with Alasdair Macleod was also very informative:
Disclaimer: Alasdair is in the business of selling and vaulting precious metals.
Dollar Destroyed by Year End – Alasdair Macleod
37 minutes
Dollar Destroyed by Year End – Alasdair Macleod | Greg Hunter’s USAWatchdog
By Greg Hunter’s USAWatchdog.com Finance and economic expert Alasdair Macleod says the gold market is “extremely dangerous as far as the bullion banks, swaps and trading desks” that, at some point soon, are going to have to deliver physical gold they do not have. Macleod explains, “I find it...
usawatchdog.com
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Hfcomms
EN66iq
In the paper world the old high of 1900 and change is important as once it passes that and holds that now becomes support for vaults higher and similarly $20 silver is important psychologically and that is holding firm.
With markets at or near all time highs and few ‘deals’ to be found these levels draw a lot of attention and are going to explode much higher and then of course greed and FOMO draws in more. With lack of physical even the metal ETF‘s will benefit greatly. I’m into physical but I do have some miners in my brokerage account I’m holding and these are also going to really take off.
This is not the time to sell unless one has no choice.
With markets at or near all time highs and few ‘deals’ to be found these levels draw a lot of attention and are going to explode much higher and then of course greed and FOMO draws in more. With lack of physical even the metal ETF‘s will benefit greatly. I’m into physical but I do have some miners in my brokerage account I’m holding and these are also going to really take off.
This is not the time to sell unless one has no choice.
Bubble Head
Has No Life - Lives on TB
Gold is holding at $1900 and Silver remains strong at over $22.00. Silver has supply problems since the Covid-19 lock down. I expect a lot more out of Silver.
Quiet Man
Nothing unreal exists
Craig always interviews well, but that is a particularly good/informative discussion. I also found Greg's 7/15 interview of Alasdair Macleod to be super informative (and a bit frightening).
CaryC
Has No Life - Lives on TB
Still it is interesting. Making what you are holding worth more. Also good info if it goes barter.
most of my retirement savings is in precious metal futures
Futures are not only paper but massively controlled paper at that. I hope you have 10% or so in physical metal in your possession as well, for insurance.
I play around with junior mining shares, you understand, so I have no room to be considered critical of paper speculations ... but I have never considered the juniors as an investment.
Futures are not only paper but massively controlled paper at that. I hope you have 10% or so in physical metal in your possession as well, for insurance.
I play around with junior mining shares, you understand, so I have no room to be considered critical of paper speculations ... but I have never considered the juniors as an investment.
abby normal
insert appropriate adjective here
Silver had a big jump last weekend, gold reached 1900 today. Will be interesting to see where we go come Monday
abby,
We have been waiting for capitulation (an admission of their exhausted ability to manipulate prices) from the paper price controllers for decades. It is bound to come sooner or later, and the exact day that happens is only of concern to short term traders. The time to get into PMs cheap and easy is long over, and probably will not be back in our lifetimes. And this might possibly be the beginning of a rocket ride to end all rocket rides. I'd like to see that happen before my ride is over
even though it would mean disastrous times for most people.
We have been waiting for capitulation (an admission of their exhausted ability to manipulate prices) from the paper price controllers for decades. It is bound to come sooner or later, and the exact day that happens is only of concern to short term traders. The time to get into PMs cheap and easy is long over, and probably will not be back in our lifetimes. And this might possibly be the beginning of a rocket ride to end all rocket rides. I'd like to see that happen before my ride is over
even though it would mean disastrous times for most people.
The big news on the day gold/silver go to the moon, that few will have and all will want some of,
will soon flip, instead, to all about their $ collapsing, that everybody has, but is now panic trying
to exchange for something/anything that'll better hold its value to sell/barter for some tomorrow.
Panic Early, Beat the Rush!
- Shane
will soon flip, instead, to all about their $ collapsing, that everybody has, but is now panic trying
to exchange for something/anything that'll better hold its value to sell/barter for some tomorrow.
Panic Early, Beat the Rush!
- Shane
For some, precious metals may be key for them getting through those few years intact.
Just like it did for many refugees escaping, paying & bribing their way out of a hell hole.
For some, in a dystopian future, gold/silver might be the only thing that gets your deathly
sick kid to the front of the mile long line for the only doctor, dentist or pharmacist around
that's already got all the canned food and chickens in-trade he'd ever want. It happens.
Bottom Line: It's always good to have some precious metals for your wealth diversification.
You can choose not to ever take gold/silver in trade for anything you might have to barter,
but you can never demand of another to take something from you other than gold/silver if
that's what they have chosen to only accept in trade.
Panic Early, Beat the Rush!
- Shane
Precious metals will have 'their day' for a few years. Then the things that you absolutely must have will eclipse them in value
And the Rule Book says you can only have all of one thing, you are not allowed to diversify your resources. All your eggs MUST be in one basket - and ONLY one.
And the Rule Book says you can only have all of one thing, you are not allowed to diversify your resources. All your eggs MUST be in one basket - and ONLY one.
Quiet Man
Nothing unreal exists
DOZ: I think that you're saying that if you really understand value, you see that everything in the inverted pyramid of wealth that is not gold is a derivative of gold; Only the gold (and silver) are real money and have value, and most all else will fall away in the difficult times ahead.
Please correct/add if I misunderstood you.
I largely agree with this view, except that I do hold some quality PM mining stock (for which I hold the actual physical certificates).
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Quiet Man
Nothing unreal exists
I just noticed this on SD Bullion. I haven't had a chance to watch yet, so for those with time during the day...
Disclaimer: SD Bullion is a seller of precious metals.
Chris Powell – Growing Signs That Central Banks Are Preparing For Dollar Dissolution
48 minutes
View: https://www.youtube.com/watch?v=2RHpfI1SJ24
Disclaimer: SD Bullion is a seller of precious metals.
Chris Powell – Growing Signs That Central Banks Are Preparing For Dollar Dissolution
48 minutes
hiwall
Has No Life - Lives on TB
Some perspective on the "value" of the dollar. When they talk about the value of the dollar they compare to other worthless currencies.
Quiet Man
Nothing unreal exists
So true. I can't recall where I heard it, but in a recent interview the speaker likened the basket of fiat currencies to a bunch of skydivers that have jumped out of a plane. At any given moment, one diver might be falling faster or slower than the others, but they are all hurtling to the ground with a mathematically certain fate.
Not perfect, but drives the point home (ha!).
A 'strong' or 'weak' USDX dollar by this measure is just a trick to deceive you.
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hiwall
Has No Life - Lives on TB
Or the cleanest dirty shirt. But the skydivers one is the most accurate because all are falling in value every minute.
Hfcomms
EN66iq
Why would you want to sell it? You price in dollar inflation since 1986 and your not making much at $25 today. In 1986 the high spot price was $6.50 which would be just over $20 today. The old high in silver during 1980 was $50 and to eclipse that high in real numbers would be over $150 an ounce today and we are going to see that eclipsed before this is over.
TxGal
Day by day
I just checked Texas Precious Metals for silver eagles (American Silver Eagle | Texas Precious Metals), and they're out of stock now. The demand doesn't appear to be letting up, at all.
And, even more revealing of how tight this market is, they'll
pay you $2.50 OVER SPOT to buy a silver eagle from you!
Panic Early, Beat the Rush!
- Shane
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Quiet Man
Nothing unreal exists
Another fantastic interview by Greg Hunter; this time with Bill Holter...
Disclaimer: Bill is a seller of precious metals.
Main theme: 'All Roads Lead to Gold'
Bill Holter – It’s Now Inflate or Die
42 minutes
View: https://www.youtube.com/watch?v=eA58ZrSxZtM
Disclaimer: Bill is a seller of precious metals.
Main theme: 'All Roads Lead to Gold'
Bill Holter – It’s Now Inflate or Die
42 minutes
Please put aside your preconceived notions about history, money, economics and personalities and give this interview a serious attentive listen. You owe it to yourself and those who depend on you. It is worth 40 odd minutes of your time. All this is in your lap right now and the outcome will be on your head in the future.
And for those who are interested, Silver Coin Melt Values with Live Silver Prices - Coinflation
And for those who are interested, Silver Coin Melt Values with Live Silver Prices - Coinflation
Quiet Man
Nothing unreal exists
I suggest that anyone who sees themselves as 'on the same page' as Greg Hunter with his guests, like Bill Holter, Craig Hemke, Alasdair Macleod, Jim Sinclair, and the like, should seriously consider subscribing to the pay side of JSMineset.com if $129/yr is affordable. There, in more privacy, Jim and Bill and friends are able to more frankly share their perspectives on what's happening and where we are headed.
Great interview, thanks for posting, had met Bill H at a small
conference Jim Sinclair & GATA had put on some years ago
in Austin.
Panic Early, Beat the Rush!
- Shane
Hfcomms
EN66iq
Last August I signed up for the premium service and of all of the pay portals out there this is the only one that I pay for. Sinclair is a wealth of wisdom and knowledge and is also one of the few mining stocks that I have....his TRX ticker. His family line is one of the ‘rich men of the earth’ and he chose a different path.
Is Sinclair paying dividends for TRX in PM's, yet?
He'd teased about wanting to do so at one time.
Panic Early, Beat the Rush!
- Shane