Gold/silver paper smackdown coming?

Where do you find data on "gold...scheduled for delivery"? I'd like to bookmark that source.

 

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Harvy Organ does a great job organizing the information - http://harveyorgan.blogspot.com/

From his most recent post~

"Today we had first day notice and what a surprise. We had a massive 1,391,000
million oz of gold stand or 43.26 tonnes of gold. I have been following the gold
and silver comex data from the mid 1970's and I have never seen anything like
this before. You will recall that this past December we had only 10 tonnes of
gold delivered upon. Generally December is the biggest delivery month of the
year. The comex is not a physical market. If one needs physical they generally
head over to London at the LBMA and purchase the metal over there. The high
amounts standing may mean that our gentlemen from Eastern persuasion are having
difficulty finding metal and thus they are heading over to our neck of the woods
to obtain this very valuable commodity."

 

PAPER RAID!!!!!!!!!! This is just ridiculous!! How can these criminals get away with it?!?!!?

http://www.kitco.com/charts/livegold.html

 

Just asking, are you referring to a momentary .77% drop as a "paper raid"? There is no other physical explanation?

I would have thought first maybe a report came out saying production up, jewelry sales down, etc etc, but you go right to "paper raid" on such a tiny move?

I know you and I don't see eye to eye sir, but just warning you crying wolf on a .77% movement will make it much less effective if someday there IS such an action, like a 5 or 10% move.

Btw, look at the bigger move just two days ago, was that a "raid' too?

 

Just to make sure I'm keeping up -- a spike downward is always "clear manipulation", but any spike upward is "natural market forces overcoming the manipulators", right? No need to consider things like jobs reports and whatnot?

 

Ok i'll just bet that the drop was caused by a flooding of paper ETF's... Prove me wrong.

 

Wow amazingly enough the price is now HIGHER then it was before the raid?!?! Maybe because the price never should have fallen that far?? Maybe someone at a big bank sold a lot of paper products to drop the price so they could either buy physical cheaper or get rid of some futures contracts??

But I guess you're right... no way anyone is rigging this game... or LIBOR.. oh and Lance Armstrong never took performance enhancing drugs either...

 

Not trying to be a jerk, but you are the one asserting something. Can YOU prove there were massive amounts of paper contracts, (abnormal levels), put onto that market then?

I am just saying someone asserting something, especially something "illegal", kind of has the burden of proof to prove their allegation. Don't they?

 

HEY, you know what? My NWS stock is down 2.57% today.

I want a Congressional hearing, as this is CLEARLY being manipulated by CBS, ABC, and NBC.

Prove me wrong.

 

It is kind of embarrassing when people say there is manipulation only when silver moves down. It makes us buyers look foolish. I'm sure there is manipulation by both buyers and sellers. Wouldn't mines want the most amount for their silver too?

 

I would ask what is "manipulation" exactly? Sellers want high prices, buyers want low prices. It is kind of funny how small physical buyers of PM, (usually the ones wanting prices lower), are always the ones screaming manipulation.

Anyway, what is manipulation versus normal buying and selling, higher and lower, on a market? What would be the definition in people's minds? If a buyer comes onto a market and buys a large amount, enough to move it higher, is that manipulation? Is someone selling enough to drive it lower manipulation? Or is it only the fact of the paper contracts that makes it "manipulation"? Everyone knows that for every paper contract you sell, you have to buy back before it expires, right? If you aren't transfering physical PM, then the largest SELLER of contracts at the beginning of a period has to be the largest BUYER of contracts at the end. If JPM is the largest seller of contract, (just assuming), then by definition they have to be the largest BUYER of contracts as well, to settle the contracts.

 

I think those kinds of dips and rebounds happen all the time. Some of us have been on the roller coaster for a while. Wait until it goes from 30 down to 20 and then back to 50. That will be the real ride!

 

Don't ask me where the manipulation is. I agree with everything you just said. If you believe silver has been manipulated for nearly 100 years wouldn't you stay away from it!? It just means they could continue for another 100. Eventual us buyers will have to sell.

 

Also, I am not sure about JPM being the largest seller of contracts but if their short position has increased over time then it could appear as manipulation.

 

You win the thread.

 

LOL Thanks!

 

You know, I just had a thought, (I know, some here will say that's impossible).

Let's just assume for a second that those who say PM is manipulated are correct, that its been manipulated for 40 years. BUT, they ACQUIRED THEIR PM then under "manipulated" prices. So they are complaining about a system in which they have BENEFITED by lower prices than SHOULD HAVE been in place.

So, am I understanding correctly then they they wished to BUY their PM under a "manipulation" regime, buying at far lower prices than they should have, but now that they have bought all they want to, they want the manipulation scheme to end so they can reap higher profits? Is that what all of this is about? What about your children and grandchildren, you wish to take away their RIGHT to buy cheap, price manipulated PM?

 

The manipulation is everywhere. Up, down, sideways. You can acquire many times more silver contracts than you can afford based on margin. Contracts can be for buying or selling. So there's a huge skew in both directions. Couple that with the fact that these contracts are only 2% backed by the physical metal, and the market is a compounding far cry from anything resembling true value. Any attempt to gauge whether it should be higher or lower would have to be based on fundamentals. You can't glean anything substantive from the market itself.

 

That is correct. They want to purchase PM at deflated prices and sell at what they believe is a free market price. In essence they feel they have the right to become rich because of how smart they feel they are. I have PM as a store of wealth not a get rich scheme.

 

So in your opinion what do you believe to be the "true value" of silver? Like you said it goes both ways.