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No physical metals left at LBMA or COMEX to back "paper" gold and silver?

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posted on Jan, 6 2011 @ 06:33 AM
does nayone know what will happen to the EURO gold price if the dollar dies? is dealt in if the dollar is worthless....what does that mean for the gold price in other currencies?..if 1 ounce is 2000 dollars...but 2000 dollars is worth only 100 euros...would 1 ounce be 100 euros in europe?


posted on Jan, 6 2011 @ 09:36 AM
reply to post by OBE1

All I want to see is how you can feasibly come up with these figures sans speculation. That is it. Just do the calculations for me.

posted on Jan, 6 2011 @ 01:09 PM
reply to post by Dance4Life

To borrow a quote....

Originally posted by Dance4Life
It isn't exactly black and white and it is not that easy to comprehend if you are not familiar.


It's impossible to produce JPM's total outstanding short interest as a line item. Due to the ambiguous nature of official reporting standards, the best we can do is provide estimates based upon current/historical information, common sense, deductive reasoning, and maybe a little Kentucky windage

Understandably, the doubters won't be satisfied until we receive a degree of clarity on this issue from an official inside source...say, from a CFTC commissioner....

Speech by Commissioner Bart Chilton before the High Frequency Trading World, USA 2010 Conference, New York, NY

December 8, 2010

I’m not suggesting a direct correlation between the inflow of speculative money or positions and the price volatility, by any means. Many of us learned, however, that while there may not be such a thing as too much speculative money, that same money might be too concentrated. We saw very large concentrations of trader positions in 2008. That has continued. Since then, we saw one trader hold more than 20 percent of the crude oil market. Even earlier this year, one trader held over 40 percent of the silver market. Full Text

and even, please do your own DD.


If I remember right, you posted a couple of months ago that you were going to email the CME, and the CFTC regarding questions you had on short interest and position limits. I'd like to know what they had to say...can you share ? And maybe you could expand a bit on the statement that ignited this dialog in the first place....

"Not only that, but JPM is the custodian in SLV, so they can have a wide range of offsetting positions." - (page 2)

I still fail to see the relationship ?


posted on Jan, 6 2011 @ 03:11 PM
reply to post by OBE1

I am not the one making accusations with numbers in the billions. All I have ever stated is that from the figures I have seen they are not close to the figures that you (or others) have stated previously. You and others continually make accusations based on opinionated articles and blogs.

I did in fact send an E-Mail, that no one else cared to comment on by the way, but never received a response. Real surprise isn't it?

My only point throughout this whole

"Crash JPM by buying Silver " - easily the most outlandish

- or -

"there is no silver left @ Comex" - I admit there could be less than advertised

is that there is absolutely no proof of any of these accusations based on information readily available.

Since JPM is a prime broker that means they can handle wide ranges of positions from many different entities. So while on paper it may look like they are holding large positions in some areas it is most probable that these positions are taken on from other entities other than JPM itself.

Also, about JPM being the custodian. I have to go back and reread it myself, but I believe per the iShares prospectus JPM is allowed to do some sort of swap where they sell silver and buy paper or vice versa. I can't remember correctly now without more reading for which I do not currently have the time. Moving forward if I am remembering correctly this would allow them to have a position that has a strong bias either way for short time periods.

So back to my only point. I have never made one accusation as to whom is violating position limits or really any accusation in general. All I am asking is for someone to cite a factual reference for these numbers that I am reading on this website and others. When I read a post from you that says "someone" estimates the short positions to be upwards of 3 billion ounces, yes I am going to have to call you out on it. It is ridiculous. While some will read anything on the Internet and take it as gospel I generally am leery of statements without citation or reference to factual documentation.

Have a nice afternoon.

posted on Jan, 11 2011 @ 09:21 AM

What a disgust! Those SOB financial terrorists did it again.

Same old sudden downward pattern at LBMA-NYMEX sessions.

edit on 1/11/2011 by wisdomnotemotion because: better remarks

posted on Jan, 11 2011 @ 11:01 AM
reply to post by wisdomnotemotion

Buyers re-appeared at 1375. All eyes on the cash dollar USDX which just rolled over below 81. Crude up big, and the miners opened strong. If the HUI manages to close green, it's the best indicator that G/S are heading higher (immediate-term).

Ok, on the count of three...everybody PUSH!

posted on Jan, 11 2011 @ 12:01 PM
reply to post by OBE1

im up to 60 ounches of silver. Im trying to buy as much as i can before the panic. I need to stop buying silver and start buying more ammo as well.

posted on Jan, 11 2011 @ 12:20 PM
The Comex paper-pushers must have depleted an entire pulp forest trying to defend 1380...which just gave way to 1382+. See what a little coordinated pushing can produce ?
but please don't quit now, still a blood & guts battle for supremacy at that particular price point.

posted on Jan, 11 2011 @ 12:42 PM
reply to post by camaro68ss

You da man da man!

At $35, maybe sell a few rounds of Silver, and buy few rounds of....

ETA: Or even better...barter a trade.

edit on 11-1-2011 by OBE1 because: (no reason given)

posted on Jan, 11 2011 @ 02:52 PM
"Frankly, we are concerned about the illiquidity in the physical silver market," said Eric Sprott, Chief Investment Officer of Sprott Asset Management. "We believe the delays involved in the delivery of physical silver to the Trust highlight the disconnect that exists between the paper and physical markets for silver."

Read this.... there having a hard time getting pysical silver! The Dan is braking..... i hope

posted on Jan, 11 2011 @ 04:11 PM
reply to post by wisdomnotemotion

You have to understand something. Metals are a very thin market. What do I mean by that?

For instance, if we take a look at the GC Contract (Gold Futures) and then compare it to the ES (E-Mini SP 500)

Let me give you the summation during RTH (Regular Trading Hours) for the DOM (Depth of Market) for both contracts. I have visibility 10x10 each side.

Gold Bids - 250 contracts approx.
Gold Asks - 300 contracts approx.

E-Mini-SP Bids - 20,000 contracts approx.
E-Mini-SP Asks - 25,000 contracts approx.

So you see in a thin market you have large price fluctuations (volatility) because the market is thin. Meaning if someone comes in with a market order for 150 contracts (not that large of an order) they can instantly move the price about 5-7 levels. This is equal to .50 to .70 cents instantaneously. This goes triple for non RTH, the price can move dollars before your eyes can adjust because there isn't any liquidity.

Hope that helps. I mean I can't blame you for thinking that I guess because you don't understand the concepts, but in reality what you are seeing is definitely not manipulation. You should really understand the concepts and the markets you are trading in (if you are currently). I am doubting you are trading in short time periods, if at all, but these are important concepts to understand if you want to be competent in discussions.

Thin Market

Depth Of Market

Here is a picture of my DOM Ladder during NON RTH for the E MINI

Here is a picture of GC (Gold) during NON RTH, now you will easily see the difference

edit on 11-1-2011 by Dance4Life because: (no reason given)

posted on Jan, 11 2011 @ 04:12 PM
reply to post by camaro68ss

What average price are you in at?

posted on Jan, 11 2011 @ 04:55 PM
reply to post by Dance4Life

I just became aware of the government’s debt, the Federal Reserve and how it works, and the coming plan of crashing all currencies to make a global currency ( that last part I added because that’s what I think is going on) so I bought in at $28-$30.

If the world doesn’t end I know silver will be in high demand due to its practical uses. Either way it’s a win-win as I see it.

posted on Jan, 11 2011 @ 05:48 PM
reply to post by camaro68ss

Not a bad spot. Sixty ounces @ $30 so around $1800. You might get a push at minimum towards mid twenties but I am guessing that will all come back plus some more very quickly if so. At least you aren't levered up to your eyeballs, you can actually sleep at night with something under your mattress.

Personally I thought EUR/USD would be below 1.28xx already this week which would bring down commodities as well. So far nothing has really budged.

You will make a nice little profit after taxes I am guessing in the future. If you ever get the feeling that you need protection in your investment you can always hedge yourself in EUR/USD with a micro forex account.

So let's say you are break-even right now.

You could sell a .1 micro lot (valued at 10 cents a tick I believe depending on your broker) on EUR/USD. This essentially makes you LONG the Dollar so if all the sudden the dollar gets real strong you are protected.

Or another way. Let's say you are up all the sudden big in Silver. To guard against the erosion in your profit you could essentially do the same thing.

After years of investing you come to find out that you are never smarter than the market. Hindsight is a wonderful thing. As long as your investment is purely risk capital you are doing well. Although I think you will be doing very well by 2012.

posted on Jan, 11 2011 @ 06:10 PM
reply to post by Dance4Life

I just really dont have any faith in either the USD or EURO there both dropping at the same pace it seems these days. I just don’t want anything to do with the market right now. Unemployment is rising and the market is rising with it…. how is that possible?

It’s all funny business if you ask me but that’s just my opinion

I hear they just raised the VAT tax over there in England. is that true? sorry to assume your from england. I things thats where your from. lol

posted on Jan, 11 2011 @ 06:29 PM
reply to post by camaro68ss

Unfortunately residing in the Southern part of USA

You have to remember something. You are in the market, you are officially part of it - no going back now. By the way, since it sounds like you are new to investing let me tell you a short story.

The energy crisis in the early 70's - Everyone and their brother said the world was doomed

Crash in late 80's - Everyone said there was no coming back

Crash in 2001 - People were talking like we were going back to the stoneage sans technology

What do all of these have in common?

Everyone thought it was the end of the road. You might hear "Well, this time it is different!". Well these people must all be direct descendants of one another because it has been stated every single time there is a hitch in the market.

You are entitled to your own opinion. That alone is invaluable. Of course this website in particular is slightly slanted to one side. Let me give you some priceless advice. It sounds like this is one of your first forays in the marketplace.

1. Diversify

2. Dollar Cost Average

All you ever need to know to come out on top over the long-haul. Because it is all about the long-haul. GL to you in the near future.

posted on Jan, 13 2011 @ 01:34 PM

Silver got slaughtered.

With all the non-stop suppression on gold & silver, I just wish there is a sinkhole upon the entire New York.

edit on 1/13/2011 by wisdomnotemotion because: (no reason given)

posted on Jan, 13 2011 @ 03:51 PM
reply to post by wisdomnotemotion

i just read a report that silver at the US mint is being sold like crazy. since they started saleing jan 3, 2011 they sold more silver in 10 days then they did for 9 months in 2010!

posted on Jan, 20 2011 @ 08:03 AM
Silver and gold price just got slaughtered again. This happened despite the fact that silver experiences shortages around the world and the U.S. debt being unsustainable. Not to mention the recent massive state layoffs where thousands just become jobless.

The financial terrorists at LBMA - NYMEX finding news headline excuses to execute their manipulation.

posted on Jan, 20 2011 @ 06:22 PM
reply to post by wisdomnotemotion

its crazy whats happening to gold and silver! but i dont think there is no way of hiding it now. people want silver in hand and the rationing at the US mint for silver eagles will be the start of a silver explosion.

i want JP to crash hard! i hope they do soon.

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