Loading ...By Pam Martens and Russ Martens: December 1, 2022 ~
The price of a Credit Default Swap reflects the cost of insuring oneself against a debt default by the bank. Who might be desperate to buy protection against a default by Credit Suisse and driving up the cost of that protection? The mega banks on Wall Street that are counterparties to its derivative trades come to mind, as well as hedge fund speculators.
Gavin Newsom’s reparations committee will recommend handing out $223,200 per person to all descendants of slaves in California for ‘housing discrimination’ at a cost of $559BN – in nation’s biggest restitution effort ever
BREAKING NEWS:
BLACKSTONE'S $69 BILLION REAL ESTATE FUND SAYS IT WILL LIMIT REDEMPTION REQUESTS AFTER BREACHING LIMITS THIS QUARTER
That doesn't sound good.
— Gold Telegraph ⚡ (@GoldTelegraph_) December 1, 2022
Horrific video! Too bad all our friends and family who got jabbed didn’t see it beforehand!
Hey supposedly there’s multiple volcanoes erupting around the world …
Not so good for crops to have the sun obscured.
I don’t deal in conspiracy theory. I deal in conspiracy fact.
WARNING: Graphic video of enbalmers removing massive clots.
But the evidence cannot be refuted. And no one will investigate.
One thing is an absolute certainty.* At some point the S is gonna hit the fan!
*unless the Sun goes supernova.
Bernie! I thought they were hiring SBF! 
Re new GLD custodian
I guess they gave the job to JPM, because Bernie Madoff is still indisposed.
I was just looking at some charts, and the USD was on rocket fuel all thru 2022, and all they could manage, the best they could accomplish was Gold down to $1,630. Har har hardy har har. LOL. And silver down to $18 but none available at that price.
Gold too about $150 $200 over spot. I’ll bet the banks and gov’ts that bought gold during that dip, that started in March at $2,060, must have been disappointed it didn’t go any lower. And if they delayed buying for a lower price, now they got locked out or have to chase it.
Spot closed right at the $1801 area – futures up to $1817.
Assuming the Adens use spot?
Good day today, jobs report tomorrow, if they’re going to get us it will likely be tomorrow. We’ve had a good little run, especially with the SM down.
If you are very quiet and listen you can hear the faint sound of the silver shorts screaming. 
I think your post is prophetic. SBF may end up looking like a midget next to the fraud perpetrated by GLD and the gold custodians. Their paper work says that they don’t have to actually have the gold but may have derivatives etc. IMO they are up to their necks in the gold suppression scheme.
I’d be amazed if it’s actually all there!
Thats pretty interesting. All the Americans that bought GLD contributed USA money to send Gold (financial insurance) to London. I wonder if Brexit, separating London from Europe had something to do with safety of the stored gold.
When they outlawed gold in the USA I read that many Americans shipped their US Gold eagles to Europe to avoid giving it up here. Even during the ’70s PM bull market a big dealer here told me everything they took in from the local people, went to the docks in NYC and shipped overseas. Amusing.
The price action that we’ve seen, and my instinct suggests Gold is going to fly right by $2,000/oz soon. Crazy highs and crazy lows have been common.
Some day GLD might end up like Bitcoin and FTX when all the big depositors try to take out or withdraw their holdings and store it somewhere else.
HSBC will have to share custody with JPMorgan of $52 bln in gold bars
LONDON, Dec 1 (Reuters) – JPMorgan will join HSBC in storing bullion for the world’s biggest gold-backed exchange-traded fund (ETF), the fund’s operator said on Thursday, ending its rival’s sole guardianship of the $52-billion stash of gold.
The change, which begins on Dec. 6, is a boon for JPMorgan, which could rake in millions of dollars of storage fees.
HSBC had been the sole custodian for SPDR Gold Trust, also known as GLD, since it launched in 2004. The bank currently stores about 910 tonnes of gold for GLD in London — around a quarter of all the gold held for ETFs globally.
Turns out $ 1800 is a big number/area…we have the Adens 23 month Av at 1790, their 65 week av at 1801 and the good old 200 day av at 1797
and of course the scum at $ 1800
I just checked a big online dealer, Gold Eagles in bulk a 20 ounce roll are charging $205 over spot. Amazing AU was at $1600 in Sept Oct and early Nov, merry xmas from Jay Powell, and suddenly its $1816 + $205 = $2,021/oz.
Junk Silver bags $1,000 face value? $22,666. Thats $22,66 for one dollar face. Or $31.70 per oz. with spot at $22.85.
Guangzhou has announced lifting of all lockdowns. Beijing has been gradually lifting lockdowns over the past few days. Vice Premier Sun Chunlan on Wed formally noted the virus' weakening pathogenicity for the first time…China is speeding up to cast aside large-scale lockdowns.
— Hu Xijin 胡锡进 (@HuXijin_GT) December 1, 2022
— Plato's Grot (@GrotPlato) November 30, 2022
Continuing Jobless Claims Hit 10-Month Highs As Layoffs Exploded In November
Yep the COTS don’t seem to have predicted much lately.
I’m liking our recent trend. Has Powell thrown in the towel? Stay tuned.
slowly but surely. Bad news for shorts. Gold futures hit $1810
I added to my underperformers GROY and GORO. I’ll see if they make a fool out of me again.
Exciting day so far. No reversals please…
BTW – gold catching up to palladium. Tells me gold is moving for monetary reasons. Palladium suggesting slower growth?
Wesdome Declares Commercial Production at the Kiena Mine
https://finance.yahoo.com/news/wesdome-declares-commercial-production-kiena-120000338.html
Lundin Mining Announces Updated Share Capital and Voting Rights
https://finance.yahoo.com/news/lundin-mining-announces-updated-share-220000990.html
Blackrock Completes Drilling at Silver Cloud; All Assays Pending
https://finance.yahoo.com/news/blackrock-completes-drilling-silver-cloud-120000557.html
Sokoman and Benton Channel Samples up to 13.57% Cs2O and Confirm High-Grade Cesium Discovery at the Golden Hope Joint Venture, Southwestern Newfoundland
https://finance.yahoo.com/news/sokoman-benton-channel-samples-13-121600499.html
Equity Metals Announces a Significant Increase to the Mineral Resource Estimate at the Silver Queen Project, BC
https://finance.yahoo.com/news/equity-metals-announces-significant-increase-123000764.html
Mayfair Gold Reports 1.10 g/t Gold over 366.7m from Near-Surface, Including 5.66 g/t Au over 16.0m from Fenn-Gib Drill Program
https://finance.yahoo.com/news/mayfair-gold-reports-1-10-130000086.html
VIZSLA SILVER INTERCEPTS HIGH-GRADE ON HANGING-WALL VEIN AT SOUTHERN END OF NAPOLEON
https://finance.yahoo.com/news/vizsla-silver-intercepts-high-grade-130000234.html
Update on Acquisition of Colossal Gold in Suriname
https://ceo.ca/@newswire/update-on-acquisition-of-colossal-gold-in-suriname-d5f6a
Great Atlantic Makes New GOLD DISCOVERY New Rock Samples & Soil Samples Define New Gold Target Zone, 1.5 KM Long Samples Up To 1.8 G/T Au
https://ceo.ca/@accesswire/great-atlantic-makes-new-gold-discovery-new-rock-samples
Exploration Update, Taquetren Project, Argentina
https://ceo.ca/@thenewswire/exploration-update-taquetren-project-argentina-6a3dd
Prismo Metals Announces Palos Verdes Drilling Results and Corporate Update
https://ceo.ca/@newsfile/prismo-metals-announces-palos-verdes-drilling-results
Fortune Minerals Announces Settlement of 2015 Debentures
https://ceo.ca/@businesswire/fortune-minerals-announces-settlement-of-2015-debentures
Orezone Declares Commercial Production at the Bomboré Gold Mine
https://ceo.ca/@globenewswire/orezone-declares-commercial-production-at-the-bombor
Golden Independence Receives Fraser Lake Technical Report
https://ceo.ca/@newsfile/golden-independence-receives-fraser-lake-technical
Monarch Reports High-Grade Intersections at McKenzie Break, Including 35.9 g/t Au Over 0.5 m (1.6 ft), 28.2 g/t Au Over 0.66 m (2.2 ft), 17.2 g/t Over 0.9 m (2.9 ft) and 12.65 g/t Au Over 1.5 m (4.9 ft)
https://ceo.ca/@globenewswire/monarch-reports-high-grade-intersections-at-mckenzie
Equity Metals Announces a Significant Increase to the Mineral Resource Estimate at the Silver Queen Project, BC
https://ceo.ca/@newsfile/equity-metals-announces-a-significant-increase-to-the
Maple Gold Ramps Up Winter Exploration Activities with Five Drill Rigs Now Mobilized at Eagle and Joutel
https://ceo.ca/@newsfile/maple-gold-ramps-up-winter-exploration-activities-with
Palladium One Announces C$4.0 million Private Placement Financing
https://ceo.ca/@newsfile/palladium-one-announces-c40-million-private-placement
Aya Gold & Silver Announces Fixed Price EPC Contract for Construction of Zgounder Process Plant of USD $78 Million
https://ceo.ca/@newswire/aya-gold-silver-announces-fixed-price-epc-contract
Apollo Reports First Assay Results From Phase 2 Drilling
https://ceo.ca/@globenewswire/apollo-reports-first-assay-results-from-phase-2-drilling
Red Pine discovers two high-grade structures: Intersects 5.57 g/t gold over 8.51 m west of the Surluga Deposit and 10.18 g/t gold over 4.89 m south of the Sadowski Zone
https://ceo.ca/@globenewswire/red-pine-discovers-two-high-grade-structures-intersects
Comstock Announces Dayton Mineral Resource Report Significantly Expands Gold and Silver Resources
https://ceo.ca/@globenewswire/comstock-announces-dayton-mineral-resource-report-significantly
Core inflation numbers were flat, PCE Core was down to 0.2 percent from 0.3%
Good enough for gold. Futures up another $20 to $1804 or so.
I’ll be surprised if it holds, only because silver is flat.
USD down 1%, gold blew thru the Adens $1792. Nice
Gold spot bumping its head on $1780. Futures up at the Adens $1792 on the button. Spot got up around $1785 but firmly rejected, same for silver @ $22.50. Silver down $.11 at the moment. No surprise after the 4+% yesterday. Rates flat. Shares flat.
Gotta be happy with the action so far. Hopefully a nice big Santa Claus rally.