Loading ...the scum are treating the whole world as idiots.
GDX and GDXJ both up about 1.3%–JNUG is fighting for its life up a few and down a few
so far buyers are ignoring the Crimex shenanigans…they want gold exposure..the HUI in and out of red…green
Richard640 @ 9:19
I know that’s your situation, and that the larger situation is hopeless, but if I can save one life it’s worth the grief.
I know many who used to hang out here have been hurt badly.
Cheers
Captain-I have always agreed with you concerning options…but I am 76…I have never
Richard640 @ 16:11
Yes but it all adds up and it should be talked about because people will be dead before the PMs rally ever gets going if this crap continues.
Cheers
Capt Hook
It ain’t just the options that allow the Fed to game PM’s….it’s the unlimited selling, that really controls the mkt and until that stops, nothing much will change…..that said the end game is much closer, the Dollar is being challenged and we may yet have a very interesting Apr gold expiration of the futures contract.
Buygold
yup they keep turning up, like bad relations …….it’s the only game they have.
Richard640 @ 16:11
Enjoy yourself today. The OI put/call ratios keep pushing lower because the gamblers can’t stop.
Some, unlike you who only dabbles for fun, are financially ruined because they keep playing this crap.
And all PM investors are at least financial impaired due to this support of the cabal’s control mechanism.
So again…enjoy yourself today.
Cheers
Republican Sen. from Alaska
Saying we should raise money by selling “Virus bonds” like they sold the old War bonds back in WWII
These idiots never stop.
and here they come…the 8 am EST blitz
Gold will be negative by the time the SM opens
Silver never was positive so I guess that’s a little less disappointing
Unreal
This is one of the best articles I’ve seen in a long time-it really gets to the heart of the matter…
COVID-19 has cratered the global economy exposing the internal rot within our hyper-financialized global economy as nothing more than a pyramid of Ponzi schemes…
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As much as I hate to invoke The Ayn Rand lest I give off the impression I’m some kind of Objectivist, which I am most certainly not, the engine of the world is coming to a halt
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Money velocity has been falling for years. It is now cratering as we hide in our homes from a bug that eventually we will all have to reconcile with. Credit is the engine of the world of today.
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The Devil made me 83 y/o Dad do it
Physical
Bill was a bit embarrassed and told the doctor he had trouble getting an erection with his wife and she was getting frustrated.
The doc checked the man’s blood pressure and other vitals. Then after a thorough examination the doctor said he wanted to check with Bill’s wife.
He took her to another cubicle and asked her to disrobe. Then he told her to turn all the way around slowly.
She did as instructed. He then told her to raise her arms above her head, then bend over, touch her toes and cough.
Finally he said, “Ok, good. You can get dressed now, and I will go talk to your husband”.
The doctor went back to the other cubicle and said to the husband, “Well Bill, you can relax, there is nothing wrong with you. I couldn’t get an erection either.
See picture below…This is Bill…
Morning R640
Yep. USD is charging ahead. Gold barely up after yesterday’s slaughter – it’s always vulnerable – and the SM is no guarantee it will be a “safehaven” as is running along the CNBS ticker this am.
Ten Yr. down to .61% – Seems bonds are acting like they should.
The one thing I guess, the HUI didn’t do a death drop with gold yesterday, only fell a couple of points.
Probably be a makeup day today.
Kitco has spot gold up $17–The Crimex June contract is up $11-that’s $31 off the low
which is fine and dandy….now lets see some upside matching yesterdays downside…gold looks vulnerable…that its up at all is a surprisw what with the $ up .586…
Gold Train
Kansas City Southern belle
https://railpictures.net/photo/726526/
https://railpictures.net/photo/726527/
Hawaii has first COVID-19 death.
Today’s stats from HDOH:
Total cases: 224 (20 new)
Hawai’i County: 15 (0)
Honolulu County: 157 (18)
Kaua’i County: 12 (0)
Maui County: 25 (0)
Pending: 13 (2)
Residents diagnosed outside of Hawai‘i: 2 (0)
Required Hospitalization: 13 (1)
Hawaii deaths: 1 (1)
Released from Isolation: 58 (3)
“Stay at home” orders. Mandatory 14 day quarantine for incoming visitors. InterIsland travelers now subject to 14 day quarantine also… with exemptions for critical workers or medical transport.
They have started to map ‘hot spots’ in the islands… primarily for crowded Honolulu.
So now fill up the water jugs too?
Swarm of 650 earthquakes rattles Utah, Idaho and California, experts say
https://www.kentucky.com/news/nation-world/national/article241639561.html?fbclid=IwAR05IylUqPfT9vhgHZw1sJzj2z4Da-BifJ-aHfe-fpLMXzbTYwI98QLxzA4
The CME Opens Pandora’s Box – Craig Hemke (31/03/2020)
With mines, mints, and refineries closed around the world due to coronavirus, the demand for physical gold has blown through the roof. This has led to some drastic measures by the CME Group, which in turn may have unwittingly sealed the fate of the COMEX and the entire fractional reserve and digital derivative pricing scheme.
This latest crisis began last Tuesday, when the spot market for gold appeared to seize up as the futures price roared ahead following the announcement of formalized QE∞ by the U.S. Federal Reserve. The event has been chronicled by many analysts and experts, with even Reuters and Bloomberg joining in the reporting.
• https://www.reuters.com/article/us-gold-trading-cm…
As the Reuters article notes, a clear shortage of the COMEX standard 100-ounce bars had developed. To counter this— and in a desperate attempt to maintain the integrity of their trading system —the CME Group immediately responded by amending the delivery procedures of their standard COMEX contract. Instead of the required 100-ounce bars, the COMEX would now be able to deliver fractions of 400-ounce London Good Delivery bars as well.
• https://www.cmegroup.com/trading/metals/precious/faq-gold-enhanced-delivery-futures.html
First of all, this exposes the charade of what has always passed for the bi-monthly physical settlement process on COMEX. Oh sure, the COMEX vaults may have always shown 8,000,000 ounces of gold, but quite obviously, none of that was actually available for physical delivery. Instead, each delivery month consisted of simple journal-entry transfers of nothing but warrants and warehouse receipts. To maintain the charade, one bank would issue some “gold” and another would take delivery. We’ve written about this scheme on countless occasions, most recently here:
• https://www.sprottmoney.com/Blog/the-continuing-comex-fraud-craig-hemke-05-112019.html
But, whatever. Let’s get back to the crux of the matter.
Obviously, the CME Group knew that they had a problem on their hands last week, which is why the sudden rush to amend the COMEX delivery rules to allow for London bar usage. The current front and delivery month is the Apr20, and that contract was due to go “off the board” and into delivery yesterday, Monday, March 30. Due to the virus-related shortages, The CME clearly anticipated a sudden surge of demand for actual physical delivery in April.
And did they ever get it! As of the COMEX close on Monday, the total amount of Apr20 contracts still open and “standing for delivery” was 25,595! A usual/normal delivery month on COMEX usually sees 8,000-10,000 “deliveries” for up to 1,000,000 ounces of warrants, etc. For Apr20, however, there is a request for 2,559,500 ounces, and because of the current shortages, most of these contract holders actually want real, physical metal.
https://www.sprottmoney.com/Blog/the-cme-opens-pandoras-box-craig-hemke.html