All Hands on Deck!

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All Hands on Deck!! Economy Imploding/DEFCON ONE Imminent - GOLD and SILVER skyrocket

Posted By: Susoni
Date: Wednesday, 7-Sep-2011 17:15:04

I guess you must have seen the CNBS clip now from when they visited the SPDR/GLD gold vault. It didn't put anyone to rest as the gold bar they zoomed in on turned out to NOT to belong to GLD but the ETF Securities. (And it looked surprisingly light when handled as it was supposed to be a 400oz/12kg bar). For those who missed this story check out these links; http://www.zerohedge.com/news/some-observations-bob-pisanis-visit-glds-vault http://screwtapefiles.blogspot.com/2011/09/zero-hedge-zj6752.html http://www.kitco.com/ind/McWhinnie/sep022011.html Susoni ********************************** The USA government released their jobs report and the report showed zero jobs was created. I will discuss the numbers with you in the body of my commentary.First I would like to report that two banks entered the morgue last night taking their last breath before the FDIC entered and pronounced them dead: 1. Creekside Bank of Woodstock Georgia 2. Patriot Bank of Georgia, Cumming Georgia. The price of gold at closing comex time (1:30 pm est) came in at $1873.70 up a cool $47.70. The price of silver fared even better rising to $43.02 for a gain of $1.54 Here are the final gold and silver prices from the access market: gold: $1884.20 silver: $43.25 gold and silver advanced to its zenith after the CME released its COT report which I will also discuss with you. Let us head over to the comex and access the wild day of precious metals trading. The total gold comex OI advanced by less than a 1000 contracts to 503,799 despite the huge run up in price on Thursday. Bankers are covering their shorts with reckless abandon at higher and higher prices. Some bankers are visiting their psychiatrists and some are jumping out of windows. The rise in gold and silver are blowing up their derivatives. The front options expiry month of September saw its OI fall from 579 to 509 for a loss of 70 contracts. We had 76 deliveries on Thursday so we gained 6 contracts of gold ounces standing and lost zero oz to cash settlements. The next delivery month is the October contract. This contract month is a very low volume month as many investors seek the more popular December contract. The October OI fell by a few contracts to 33,736. The big December contract rose by over 800 contracts to 336,575. The estimated volume at the gold comex yesterday was very good at 193,980. The confirmed volume on Thursday was lower at 147,977. The total silver comex OI continues to contract. On Friday, the OI fell to 111,735 from 112,243 for a loss of about 500 contracts with a huge rise in silver. The silver bankers are joining the gold bankers in seeking medical help. The front delivery month of Sept saw its OI fall from 2418 to 1364 for a loss of 1054 contracts. We had 550 delivery notices yesterday so we lost 504 contracts or 2,520,000 oz to the fiat bonus money supplied by JPMorgan's Blythe Masters. The big December contract remained constant at 76,939 contracts. The estimated volume at the silver comex was 43,425 which is quite low. The confirmed volume on Thursday was very anemic at 30,670 which kind of shows you how the bankers now are now loathe to supply any paper short. You will see this in the COT report. Inventory Movements and Delivery Notices for Gold: Sept 3.2011: Gold Ounces Withdrawals from Dealers Inventory in oz nil Withdrawals fromCustomer Inventory in oz 430 (Brinks,Manfra) Deposits to the Dealer Inventory in oz nil Deposits to the Customer Inventory, in oz 8000 (Brinks) No of oz served (contracts) today 30800 (308) No of oz to be served (notices) 20,100 (201) Total monthly oz gold served (contracts) so far this month 170,700 (1707) Total accumulative withdrawal of gold from the Dealers inventory this month nil Total accumulative withdrawal of gold from the Customer inventory this month 8560 oz Rest on link: This is just scratching the surface of this article... http://harveyorgan.blogspot.com/2011/09/all-hands-on-deckeconomy.html