Monday, January 31, 2011

Gold Bar Premiums At 17-Year High In Hong Kong

As the physical gold and silver market continue to tighten we can expect premiums to move much higher in the US and around the world.  Although we have forces like JP Morgan working overtime trying to keep spot prices down utilizing paper, physical demand continues to explode higher. 

Premiums in Hong Kong are at their highest levels since 1994 according to Zerohedge.  As the Middle East and other parts of the world (including the US) continue to show signs of instability people will look for a way to protect their wealth.  As more money flows into physical gold and silver spot prices will move up and premiums will explode higher. 

In other news the People's Bank of China is urging China leaders to buy gold and silver on any dips.  Xia Bin who is an advisor of PBOC said the following "holdings of gold and silver can help establish the yuan as an international currency by increasing China's "final payment capacity."  This piece of advice from Xia comes after is comments from last month where Xia said the PBOC should diversify their $2.7 trillion in foreign reserves and increase gold reserves.  Of course when Xia says "foreign reserves" he means get away from the US Dollar and US Treasuries.

We are living in interesting times.  Protect your wealth!

Article Here

Sunday, January 30, 2011

Silver bars likely to be gone within days, dealer tells King World News

Bill Haynes of CMI Gold and Silver was recently interviewed by King World News.  The topic of discussion the extreme tightness in silver.  The hundred-ounce silver bar which is the most popular for silver investors will likely be out of stock within days.

What we have been discussing for months is becoming reality, we are seeing shortages in physical silver.  As paper prices are pushed down physical demand spikes much higher, nothing has changed on the global debt scene.  It is amazing to watch bullion banks making the same mistake over and over again.  The problem is pushing spot price down with massive naked short positions is the only strategy available for the bullion banks.  Long term the physical market will win this fascinating battle.

Full Article Here

NIA Inflation Update

Here we have an inflation update from NIA.  This clip also has important updates in the physical silver market regardless manipulate paper prices.

Harvey Organ’s Nasty Email to the CFTC

The organizations involved in silver manipulation are working overtime.  We are seeing forces in the open (for those who understand the game) pushing prices down.  Harvey Organ has been working tirelessly to end this fraud.  If you are not aware of who Harvey Organ is please see the clip below of Harvey at the famous CFTC hearing, which proved beyond a reasonable doubt gold and silver are manipulated.

Recently Harvey sent a nasty email to the CFTC and I thought our readers would appreciate the email.  You can see the email addresses of key players at the CFTC, feel free to send them an email voicing your frustration.


Subject: Position limits and elimination of exemptions. Date: 1/20/2011 9:40:56 P.M.

I am rather disappointed that you have allowed the major banking short interests to continue with their fraudulent and manipulative practices in the precious metals. You have allowed another 60 days of massive shorting by the bankers to allow for yet another public input. The public for the past 2 1/2 years have bombarded you with millions of emails with the hope that you will see the light and put position limits on silver and eliminate the phony exemptions. Mr O'Malia was the lone dissenter on your latest vote voicing his concern that the swap books on JPMorgan once opened would be a shock and that the CFTC would not know how to handle the situation. It has been my contention all along that the major short, is in reality the Chinese government who lent their hoard of silver in support of the suppression of gold. It would be difficult to suppress gold while allowing silver to advance in price. The gold was supplied by central authorities. The USA ran out of silver in 2003 and in order to receive most favoured nation status, the Chinese have done a swap with the USA with a date certain to re-swap. It is quite conceivable that the Chinese have asked for their silver back but were refused as global supplies for silver are vanishing.

Yesterday, the USA Mint announced a record 4.6 million oz of silver eagles sold in the first 3 week period of January which is a record. The USA produces 40 million oz from their mines so for the first time, the USA must import silver from the rest of the world to satisfy the mint's requirements.

The comex is witnessing massive movements of silver into and out of registered vaults signifying turmoil as this silver is putting out fires in other jurisdictions. In gold we are witnessing the opposite. How on earth is gold being settled?

What is even more troubling to me is this:

How could you even discuss position limits and the elimination of exemptions without first telling us what happened in July 2008 which caused you to bring in the enforcement division of the CFTC? Mr Chilton has decided to act unilaterally in proclaiming one trader, JPMorgan, with fraud, and from his statement to the press, major class action law suits have been initiated and filed.

It is frustrating to many of us who witness time and time again massive un-backed paper driving the commodity price of silver and gold down like today. I guess the CFTC's motto that the futures market is a price discovery mechanism is out the window. Mr Dunn has stated that he needs more manpower to try and catch manipulation. Yet when a whistle blower is presented to you and this person describes in detail the accounting of how the crime has been committed in the past and how it will happen in the future and yet you refuse to listen to this gentleman.

Mr Sprott of Sprott Asset Management is having a tough time trying to find any physical silver for his silver fund and yet the bankers massive sell huge amounts of paper silver. The SLV also has liquidated massive amounts of "paper silver". The real stuff is difficult to find in quantity.

Sooner or later, this fraud will end and I guess there is going to be a lot of explaining to do.

I urge you to do the right thing and order JPMorgan and friends to stop this massive fraud and manipulation immediately.

Harvey Organ.

Hillary Propaganda Filter

If you understand propaganda, you realize we are seeing propaganda on a regular basis on multiple fronts.  This is an interesting clip called "Hillary Propaganda Filter" regarding the Egypt crisis.

Xtranormal Cartoon Explains POMO

Zerohedge posted an Xtranormal Cartoon that explains POMO.  POMO is a key part of our rigged market these days.  If you wonder why the market has been moving up on no volume understanding POMO is key.

Silver futures trading has nothing to do with metal's real price, Sprott says

Eric Sprott CEO of Sprott Asset Management was interviewed this week on King World News.  Billionaire Eric Sprott is an expert in precious metals along with many other topics.  Sprott covers many key issues in this interview such as silver shortages, gold and silver price predictions, inflation and much more.

Sprott believes gold will take off this year.  One key factor discussed in this interview that will surely be a catalyst for gold is the millions of new retail gold accounts available in China banks.  This interview is about 18 minutes long and should be considered a must listen to interview.

Listen Here

The Bears Explain Banker Bailouts And The Screwing Of The American People