from ROGUE MONEY:
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Speculators Sour On Gold And Silver, Which Means The Bottom Is Near
by John Rubino, Dollar Collapse:
The stars — in the form of smart and dumb money futures contract positions — have once again lined up favorably for precious metals. Here are those positions for gold and silver as of Tuesday the 4th. Notice that speculators (the dumb money) got a lot less optimistic — that is, less long and more short — while the commercials (the smart money) got much less pessimistic. The closer each group gets to neutral, where their longs and shorts are about equal, the greater the likelihood that metals prices will rise in the subsequent six or so months.
WAR ON CASH: DESPERATE VISA BEGS MERCHANTS WITH $10,000 BRIBE TO GO CASHLESS
by Claire Bernish, The Daily Sheeple:
A war on cash has surreptitiously and duplicitously come to pass, as Big Banks and Big Credit attempt to convince their millions of oft-captive customers to make the leap away from currency and into plastic — a surefire means of gaining access to more of your funds through repressive policies and monstrous fees.
Writing a check as payment has been difficult for years, but the move away from currency to digitally-tracked plastic and online pay options has recently taken off — despite reluctance from customers and smaller businesses already wary of being bilked by guileless banks and slithery credit institutions.
Putting the Latest Silver Crash Under a Lens – Keith Weiner
by Keith Weiner, Sprott Money:
On Thursday, July 6, in the late afternoon (as reckoned in Arizona), the price of silver crashed. The move was very brief, but very intense. The price hit a low under $14.40 before recovering to around $15.80 which is about 20 cents lower than where it started.
Buyers of silver are rejoicing. They can now get more money (silver, like gold, is money) in exchange for their dollars than before. However, as we see from the reactions in the community, there were few buyers.
Cries of woe are heard everywhere. Those who are crying are sellers, including those who say they don’t plan to sell but who really want a high price in case they change their mind by Monday morning.
If you want to see what it looks like when everyone is thinking of buying, look at the bitcoin market when there is a price drop. The enthusiasm is palpable. Everyone is gloating about buying the dips, with faith unbroken that the cryptocurrency is on its way to shoot past $10,000 if not $1,000,000.
GOLD DOWN $1.50/SILVER IS DOWN 18 CENTS/AGAIN AT THE SILVER COMEX THE AMOUNT STANDING INCREASES BY 245,000 OZ
TOTAL SILVER STANDING: 14.560 MILLION OZ/REPUBLICANS INTRODUCE A NEW HEALTHCARE BILL BUT IT WILL GO NOWHERE
from Harvey Organ:
USA RUNS A SURPRISING DEFICIT OF $429 BILLION DUE TO EXPENDITURES WITH RESPECT TO STUDENT LOANS AND HOUSING LOANS
In silver, the total open interest ROSE BY 887 contract(s) UP to 208,479 WITH THE RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 15 CENT(S). WITH THE DATA TODAY, THE ONLY EXPLANATION IS THE COMMERCIALS CONTINUED AS THE SUPPLIER OF THE SHORT PAPER AND THE SPECULATORS WENT TO THE LONG SIDE GOBBLING UP THE PAPER.
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.042 BILLION TO BE EXACT or 149{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 50 NOTICE(S) FOR 250,000 OZ OF SILVER
In gold, the total comex gold ROSE BY A MONSTROUS 15,769 CONTRACTS WITH THE RISE IN THE PRICE OF GOLD ($4.20 with YESTERDAY’S TRADING). The total gold OI stands at 491,438 contracts. AGAIN, THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS WENT ON A RAMPAGE ON THE LONG SIDE.
we had 52 notice(s) filed upon for 5200 oz of gold.
Silver Fundamentals Vs. The Base Metal Bubble Part ll-Silver Undervalued Against Everything Now!
by Andy Hoffman, Miles Franklin:
Yesterday, we learned that Donald Trump Jr. was allegedly involved in secret meetings with a Russian lawyer last year, in an alleged attempt to obtain anti-Hillary information. This, as Trump’s snot-nosed, silver spoon son-in-law, Jared Kushner – a mere 36 years old – was collaborating with Qatarian sheiks whilst Saudi Arabia “coincidentally” declared economic war on it – under the ultimate “pot calling the kettle black” insinuation that Qatar funds terrorism. To which, I can only say, how ridiculous is it that the President’s family is involved in such blatant conflict of interest activities; and doubly so, how screwed up has America’s increasingly Banana Republic political system become? Which I only state, to demonstrate how painstakingly obvious the need for portfolio insurance has become – at a time, no less, when historic market manipulation has not only produced “dotcom valuations in a Great Depression Era,” but the most undervalued Precious Metal prices – on an inflation-adjusted basis – ever.
Stocks and Precious Metals Chart – Me and My Baby
from Jesse’s Café Américain:
“Learn what is to be taken seriously and laugh at the rest.”
Hermann Hesse
“Narcissism falls along the axis of what psychologists call personality disorders, one of a group that includes antisocial, dependent, histrionic, avoidant and borderline personalities.
But by most measures, narcissism is one of the worst, if only because the narcissists themselves are so clueless.”
Video – “Gold Should Probably Be $5000” – CME Chairman
by Mark O’Byrne, Gold Core:
Video – “Gold Should Probably Be $5000” – CME Chairman Duffy
– Fed has caused “frustration” and “confusion” in market place
– “If you adjust for inflation, you should have gold somewhere around 2 to 3,000 per ounce”
– “If you look at what is going on the world, gold should probably be $5,000 to $6,000 per ounce”
– “Lot of us are so jaded about what is going on in the world, it is like yesterday’s newspaper in five minutes”
– “One day you will not be able to dismiss them and you will see a huge move in the precious metals”
– Gold “coins are probably of more value than anything else” – CME President Duffy on Bloomberg in 2013
Prediction Made Nearly 30 Years Ago Coming True Before Our Eyes – With ‘Chickens Coming Home To Roost’, We May Be ‘Counting Down The Minutes Until Everything Changes’
by Stefan Stanford, All News Pipeline:
– ‘This Could Very Well Be The Way They Try To Usher In Their One World Currency!’
In this December 31st of 2014 story from CNBC they begin: “If the future plays out like BNY Mellon’s chief economist expects, 2018 is going to be a year for the history books.” Warning within their story that 2018 will be the year “a number of chickens come home to roost”, they also reported then:
“I’m worried about 2018. I think by that time everything will all come due. We’ll have wage inflation. The Fed will have to tighten hard,” Richard Hoey told CNBC’s “Squawk Box” “I’m not worried about 2015. I’m not worried about 2016, not too much about 2017. I think the bill comes due in 2018, but that’s too far in the future to worry about now.“
Andrew Hoffman – Janet Yellen’s Moment of “Truth”
by Kerry Lutz, Financial Survival Network:
What’s Really Happening Wednesdays with Andrew Hoffman:
Following last week’s “Operation July 4th week silver slam,” historically undervalued PM prices
Historic valuation anomalies – platinum/gold, silver/gold, numismatics
Today’s article, “silver versus the base metals bubble, Part II – Silver now undervalued versus everything!”
Whirlybird Janet’s Congressional economic testimony
Why is she lying through her teeth? And who doesn’t realize this yet?
Update – They do now, given her massively dovish prepared remarks!
Breaking down of fraudulent financial and market memes, everywhere!
Bitcoin “civil war” – and what it means.
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