whats the problem ?
The Oil Futures Crash Is A Warning To Gold Speculators
April 24, 2020
Mike Gleason
Director @Money Metals Exchange
-The credibility of the gold and silver futures markets is also being called into question. Earlier this month the spread between COMEX gold futures and the London so-called spot price grew to a record high of more than $80.
Something strange is going on. The COMEX and London markets curiously changed their rules to allow 400-ounce gold bars located in London to be substituted for delivery of 100-ounce bars in satisfaction of U.S. contracts, actions which have drawn the attention of Congressman Alex Mooney of West Virginia.
Rep. Mooney is now demanding the CFTC explain why U.S. markets are permitted to carry so little deliverable physical gold and silver to back the exchanges. If there are widespread defaults, it could throw the entire financial system into chaos, Mooney warned.
At the same time, an enormous divergence between spot prices and the prices on bullion coin, bars, and rounds have developed.
So what is the real price of gold? What is the real price of silver?
The answer is that it depends on the form in which it is traded. Paper contract settlements carry one price. Bullion bars carry another. And American Eagles carry yet another.
For example, while the silver spot price closed at $15.36 on Thursday, Silver Eagles were selling for $27 or more at Money Metals’ higher-priced competitors.
Certainly a few of these dealers are getting greedy or struggling with insufficient capital, but the elevated premiums in general DO reflect extraordinarily strong retail demand on the one hand – and on the other, higher sourcing costs and U.S. Mint closures that threaten to crimp supply.
Coin values cannot be manipulated arbitrarily on a futures exchange. No physical bullion product will suddenly acquire a negative price because a handful of traders desperately need to unload contracts at a particular time and can’t find buyers.
As long as you aren’t using leverage, your downside risk in bullion is limited. That’s certainly not the case if you choose to play gold and silver futures. There, as you heard the head of the CME/COMEX admit, you could potentially lose more than 100% of the capital you deploy.
The upshot for holders of physical is that in the event the highly leveraged precious metals futures markets lose credibility, and especially if they melt down and default on obligations to deliver, a squeeze on available inventories of physical metal could push bullion prices explosively higher – regardless of what the paper quotes for gold and silver happen to be.
Global Pandemic
Aaron Russo did this interview 14 years ago. He produced among other things the movie Trading Places (one of my favorites). The way they are promoting new vaccines bothers me.
Why Not Call Pandemic, Damnpenic or Damnpanic?
By the way, looking at my watchlist, and software, in general, most of the bigger cap miners (billions) are in the green, on the day and on the month. All the smaller caps (millions) mostly in the red.
FWIW….
I see there is some “conversation” going about the evil Mr. Gates.
I thought some of you might be interested in the videos created by someone called “reallygraceful”.
I’ve included a link to her BitChute channel where she does some analysis of BG as well as others.
https://www.bitchute.com/channel/reallygraceful/
Interesting that the old peoples nursing home, in Kirkland WA, where so many died in the beginning of this “plandemic”, is just a few miles NE of the Gates mansion. I don’t think there is a direct connection; TV coverage of the lengthy event showed severe mis-management and just plain lack of basic medical protocol, but, the location is interesting.
BTW I’ve stolen that word “pandemic” from Dr. Joseph Farrell:
Maddog
That’s a good point. Glad they’re learning their enemies in the background, openly saying they want them to suffer pain so they’ll bow down to their demands and who’s causing these things to happen to them. That they aren’t naturally occurring events. God forbid if they said up yours started a barter system and they didn’t get their cut. The farmers should do it now. One trade eggs or milk for crops,or other needs. Even better make these politicians work for food hand them a pitchfork tell them their money’s no good.
They won’t open up the unemployment as essential either while they have their own debts to pay. Mucho comments so they know they can’t trust them now. Of votes weren’t rigged I bet Big Bird could run against them and win and still might. Good time for real conservatives to come along. Not different than third world mentality.
Goldielocks
We have a magazine over called the Spectator, which has a pretty smart readership….
I saw a post from someone whom said…tks to the lockdown a lot of people who are normally at work and are far too busy to follow events, have plenty of time on their hands, so are surfing and reading and what they are seeing about Gates, Vaccines and the so called scientific community is not impressing them at all.
Gates has blown it big time, loads of very switched on people have rumbled him.
Repulsive, should never be bought JNUG…my mangy ole companion…
FilledBuy358JNUGLimit76.67—-12:06:47 04/24/20
FilledBuy200JNUGLimit76.67—-12:06:46 04/24/20
goldielocks @ 14:10
Thank God for the internet!
Ipso
Least we’re getting better at identifying the beast or beasts. With viruses mutating like the flu they have to change them. So you can see where that is going to go if he can get away with certificates and mandates. I only worry next time they’ll find a lab to make a even more lethal one. These kind of people won’t stop till their stopped. Meanwhile the middle class are getting wiped out because of these lunatics and their self fulfilling prophecy’s “ they caused”!!!
OMG-!! The HUI is up 4.88-almost 7 pts off the low & that’s with
gold still down 4.20 & silver down 3—buyers want gold exposure via stocks/etfs and are giving the funger to the Crimex…PM equities are well supported…so far…[gulp!]
Gates
Notice before they take it down he said We again “ us against him don’t want to have a lot of recovered people. That would interfere with his vaccine and certificate his computer companies can profit on when he was talking about digital certificates. The one interviewing him had to lead him away from putting his foot in his mouth.
These are a lot of recovered people greater than he imagined. Plus by the time he gets a vaccine it could mutate.
goldielocks @ 13:41
Mark of the beast! Only half joking.
hui, stocks…
…making a nice little comeback from this morning’s slapdown.
Had to change the video to another. Gates suggesting to have patients do health care
Apparently people don’t have their own jobs, bills to pay, their own family’s he can just take precious sick people like slaves to do testing on others.
I like he he says “ we” like he was actively involved developed a swab.
Ipso
Here’s it from the horses mouth talking about certificates. Also a tattoo like the holocaust injected oh but you can only see it with a special light but don’t know if it’s on this one.
Maddog @ 11:22
re: HCQ Interesting what Novartis said about it. Maybe an honest man?
The Dems, Gates and the whole vaccine business are highly suspect. The control thing is so important to them. I’m hearing the talking heads talking about the need for some kind of vaccine passport or some such to use public transportation. They’re getting us used to the idea that someone has to be vaccinated to participate in society.
Who thinks they have our best interests at heart? Not me.
Captain Hook
I hope they’re eyes are opening because their lives and lively hood will depend on it.
States are now using the virus to pay off their debts. Oh throw in money oldie this and that too, just print. They never make conservative changes because they are not qualified to do it. Like Armstrong said would you have a taxi driver do brain surgery. He also said they produce nothing just consume and they have no accountability.
Continued rinse and repeat this time they had to come up with a virus. It’s not them it’s the virus doing it. This time even the economic naive wont be fooled. People are going to see them as waisted energy and a threat to their survival , culture including that favorite coffee shop, bar, salon, martial arts, store, restaurant, on and on shut down permanently and most important constitution.
They’re not serfs for these condescending idiots..
if the private sector goes down who’s gonna pay their salary?