14 September 2015

Who is the player and who is being played?

New post on corporate site with some thoughts on articles about shortages of coins and comex stocks. And yes, I have read How to Win Friends and Influence People but I don't give a F. As Alex Stanczyk says "Price will not fix. West demands of physical delivery similar to Kyle Bass will fix price" and paying massive coin premiums just reduces the amount of physical drain out of the system and thus pressure on it.

22 comments:

  1. What's all this about? Have we run out of Physical?

    Comexodus: JPMorgan's Vault Is One Withdrawal Away From Running Out Of Deliverable Gold

    http://www.zerohedge.com/news/2015-09-15/comexodus-jpmorgans-vault-one-withdrawal-away-running-out-deliverable-gold

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  2. One vault on one exchange, yes it is the end of the world.

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    1. I figured so? What about this?

      JP Morgan Loses 45% Of Registered Gold Stock In One Day

      https://srsroccoreport.com/jp-morgan-loses-45-of-registered-gold-stock-in-one-day/

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  3. JPM and the Comex are mighty big dominoes and as i understand it only takes one to fall, especially when linked to derivatives.
    Thanks...

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  4. You're being disingenuous. You know and I know that "total gold stocks" at the COMEX playpen are irrelevant and that 'eligible' "stocks" may only become 'registered' at far, far higher prices. One only need look at the steady dribble of bullion owners converting their 'registered' into 'eligible' because of today's prevailing low (and artificial) prices.

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  5. No, I'm not be disingenuous. You and many other are completely ignoring the possibility that bullion banks engage in arbitrage and could easily be acquiring physical metal outside the Comex warehouse against their short positions which they will deliver into Comex should longs refuse to sell out. They could also, in that market making/arbitrage activity, have purchased eligible metal against their short. There is no need for them to convert that to registered to satisfy you or others that OI is "covered". Indeed wouldn't you think that such traders would purposely hide the nature of such hedged positions and what their true proprietary position is just so that silly "analysts" like ZH or Craig can get all their followers worked up about imminent default and how prices will have to go higher to bring out metal to settle?

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    1. And I fully agree that bullion banksters are likely playing the spread, buying physical as a hedge for their short positions. But, at these managed prices, and when those short positions are constantly increasing in term and # ounces to the point that that each 'declared' eligible ounce is potentially spoken for 220+ times, any buying of physical will never be able to keep up. The short positions will (and do) multiply and multiply and the banks will be chasing their own tails unless they can somehow engineer another reduction in "the gold price", something not easy in this economic climate. One day the "price" will explode, suddenly and massively: see Jim Rickards' July 16 2015 interview on the subject.

      The Comex is a paper betting shop which criminally has been allowed by government to set the price of the real item. It should be forced to have unencumbered ounces in possession or in escrow for EVERY ounce of paper contracts issued.

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  6. The Biggest Silver & Gold Scam In History

    https://www.youtube.com/watch?t=20&v=hUtlrZX9aTE

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  7. Bron your opinion is poor logic. I'll Never ”trust paper”. Sorry, I’d like to but I trust my own eyes far more than you or anyone else’s word! Logic is logic and if more gold has been demanded than produced for years upon years, it had to come from somewhere yet no one says their vault has been emptied …logic tells me someone is lying as to how full their pools really are.
    Eventually this paper ponzi scheme will come to a head and the ones with the paper will be the ones been played !

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    1. Oh yes there will be scams, as the recent Bullion Direct example shows, but not every single storage service will fail. There are ways to tell which is which but if you don't feel comfortable, then yep stack physical, just don't pay silly premiums - you don't have to buy it all right now.

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  8. btw, any idea on when those bulk in tube 9999 silver kangaroos will be coming out? no one at Perth mint seems to know perhaps you can enlighten us?
    Regards,

    joey

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    1. I thought things were still on track for 21 September release, I just heard that we have had a lot of pre-order interest.

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    2. This comment has been removed by the author.

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  9. Glad for the explanations, Bron. All i know is buy low sell high. I can't predict what will change this downtrend. Hope my miners survive till prices rise....the coins will be there either way.

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  10. So much for SEP 21 release hey Bron? I doubt they'll ever be released now that Silver has become so tight? What say you?

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    1. Yes it was released today ex-Perth Mint, some coin dealers may not have it in store. See http://www.perthmintbullion.com/au/Buy-Silver-Coins/All-Silver-Coins.aspx

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    2. Yes, I figured that as my supplier took the wedge tail eagles off the shelf early today, they're still not advertised yet, I'd say tomorrow ?

      btw, beautifully designed coin. Well done BronPM

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  11. I phoned ABC bullion today re 9999 silver Kangaroos and they told me their supplier(perth mint) had no stock and that they weren't taking any orders either? What on earth is going on Bron??

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  12. Well the weeks almost over and no one in Sydney has the new Silver kangaroos. The irony is that I/m being told nothing and "we're not taking orders" ?? It's as if they know somethings coming and they're holding back stock? It's becoming a Joke !

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    1. Well we have been stamping out millions of them and have already sold everything we stockpiled, so maybe it is freighting issue getting out the door. Dealers should know what they have been allocated so I'm not sure why they would not be pre selling what they know they are going to get.

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  13. Beats me Bron? I took a trip to one of my bullion Suppliers late yesterday and It was as if they swallowed memory loss pills?? My words to the effect were; when are the kangaroos coming in? their response was "we don't know and we're not taking orders" I then asked them what they had left? Not much at all, only whats in this 1 x 1/2m display consisting of only 1 ounce koala's, 1ounce five blessings, 1 ounce year of goat and some 1kg Perth Mint coins? I ended up buying a small number of 1 ounce koalas.

    I also noted that while i was there, all customers before and after me were Indian and most were requesting Silver, especially maple leaf. They were gutted to see no stock, lol

    I don't know what's going on? All out of conspiracy theories, all I know for certain is supply is tight.

    regards


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  14. Ok, here is a cut/paste from KJC bullion site re kangaroos silver coins
    "Limited Product Quantity Available: 31
    Delivery: PRE ORDER - Estimated Shipping or Collection Available Late October 2015
    Storage: Storage Available"
    Did you notice when they have them available? Late October Bron? What are they doing? carrying them across the Nullarbor Plains by foot? lol
    I'll put my money into stocks, thanks.

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