Gold & Silver/ Precious Metals

NEW CHINESE EXCHANGE WILL DESTROY GOLD AND SILVER SHORTS, WHISTLEBLOWER MAGUIRE PREDICTS

Whistleblower Maguire - This Will Destroy Gold & Silver Shorts

This morning London whistleblower Andrew Maguire told King World News that the launch of the new gold and silver exchange in China will destroy the remaining gold and silver shorts. Maguire stated, “The launch of this new gold and silver exchange has flown under the radar, but certainly has my attention. I firmly believe we are marking a pivotal point that will in very short order affect current precious metals price discovery dynamics. We now have an additional factor to be vended into the supply demand equation. This factor will ultimately destroy the remaining short positions in both gold and silver.”

Maguire continues:

“China is keen to diversify their cash holdings and is also encouraging citizens to make investments in gold and silver. The Pan Asia Gold Exchange is another step in this direction by opening up ease of access to physical gold and silver to their bank customers. This physical backed exchange is going to be a big game-changer.

Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform.

By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse. To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down....

“The impact on the price of silver will be even more pronounced. Silver is a much smaller market and already in tight supply. If just 1% of Agricultural Bank of China customers buy 500 ounces of silver, that would require 1.6 billion ounces of silver! I believe the leveraged and naked existing short side concentration in silver will be blind-sided by this. In my opinion it will create a massive short squeeze.

None of this potential new physical demand has been factored in by analysts and I expect a large and unanticipated drawdown of physical gold and silver over the next few months, ahead of the international contracts going ‘live.’

One of the key points here Eric is that many of these shorts are naked and heavily leveraged. Thus for every physical ounce of gold and silver taken out of the physical market and into this new exchange in China, it will force many multiples of that to be covered in the paper market.”

(From $203 to $93 Billion in Silver Liabilities?)

Silver Stock Report

by Jason Hommel, July 6th, 2011

The Bank of International Settlements (BIS) has changed, or revised, their silver derivatives data in their derivatives reports. The change took place between their June, 2010 report, and their December, 2010 report, for the period of June, 2009. The change was from $203 billion in "other precious metals" liabilities, changed down to $93 billion.

The change took place, in Table 22A: Amounts outstanding of OTC equity-linked and commodity derivatives, By instrument and counterparty, in the category of "other precious metals", for June, 2009, Notional amounts outstanding.

In June, 2009, the silver price was about $15/oz.
http://www.silverseek.com/quotes/5silver.php

This means that the $203 billion silver liability divided by $15/oz. shows that all the banks in the world that are tracked by the BIS owed 13.5 billion ounces of silver.

But the entire world silver mining production is only about 700 million oz. of silver annually, so this is an admission that the banks owed about 19.3 years worth of world annual mine production of silver.

The adjustment, from $203 billion, down to $93 billion was a drop of $110 billion, or more than half of the number! The lower number, $93 billion, is still absurdly large, at about 6.2 billion oz. of silver, or about 8.8 years of worth of world annual mine production of silver.

The obviously large and very excessive amounts are the smoking gun of silver fraud by the western world's banks.

This BIS data is extremely important, because it is far larger than the excessive short selling amounts often noted at the COMEX, which typically is only about 1 billion ounces of silver, or less.

I attended the CFTC open hearings on silver manipulation.  A banking representative was asked directly what the banks were hedging by being so massively short of silver at the COMEX. The answer was that the banks were "hedging client long positions in the OTC market". That's obviously an admission of manipulation, because client long positions do not need to be hedged, since the client obviously wants to be exposed to the changes in the silver prices, which is why they bought silver to be held by the large LBMA member banks in the first place. So if the banks are hedging client long positions, it means that the bank has not bought the silver, and that they want to prevent silver prices from going up, because if it does, then the banks will owe their clients a lot of money, so, to "hedge" that exposure, they short at the COMEX, which is the market that generates "price discovery", since trades there create a trail and record of prices.

After all, imagine what the silver prices would be if the LBMA banks actually went into the market to buy 13 billion ounces of silver, or 19 years worth of annual production. Clearly, the silver prices could go hundreds if not thousands of times higher, and it could destroy the entire financial system of paper money.

The revision was an adjustment from $203 billion down to $93 billion, and the adjustment is strange, because it was the only number that was repeatedly and consistently highlighted in this silver stock report. It's also strange because the amount of the value of the gold contracts, at $425 billion, and other commodities contracts, at $3101, went unchanged for that reporting period.

This BIS change is significant, both in the relatively large silver amounts, and the reporting period. The change took place after I began publishing this BIS data, and soon after I filed the first anti trust complaint against JP Morgan with the Justice Department, in April, 2010.

http://silverstockreport.com/2010/doj.html

This data change also took place after the filing of approximately 25 lawsuits against JP Morgan over silver manipulation.

It has been difficult to document the BIS data change, since they often change the web links to their reports, and they change the reports directly. But a helpful reader has discovered the original reports at the BIS website.

From 2009, Dec report: $203 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa0912.pdf

From the 2010, June report: $203 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1006.pdf

From the 2010, December report: $93 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1012.pdf

From the 2011, June report: $93 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1106.pdf

Since the BIS changes their urls and reports, I saved all of these pdf files, which are archived here:

http://www.silverstockreport.com/BIS/r_qa0912.pdf
http://www.silverstockreport.com/BIS/r_qa1006.pdf
http://www.silverstockreport.com/BIS/r_qa1012.pdf
http://www.silverstockreport.com/BIS/r_qa1106.pdf

And since the BIS changes their urls and reports, I also captured a print screen of these pdf files being opened directly on the BIS website:

http://www.silverstockreport.com/BIS/0912.png
http://www.silverstockreport.com/BIS/1006.png
http://www.silverstockreport.com/BIS/1012.png
http://www.silverstockreport.com/BIS/1106.png

In conclusion, it's not a "conspiracy theory" that the banks are manipulating the silver market. The BIS bank data shows the conspiracy.

And when the banks are saying indirectly, "don't trust us", given both the large amounts and large changes in their published data, it would be foolish to trust them.

It's a mathematical certainty that silver prices will explode upwards in price, and only people who hold their own silver will benefit from the major value change that's coming.

You can buy real silver from us at www.jhmint.com

We have much lower prices, or premiums over spot, right now. Everyone wants to buy on a dip. Now's your chance!

=====

I strongly advise you to take possession of real gold and silver, at anywhere near today's prices, while you still can. The fundamentals of silver indicate rising prices for decades to come, and a major price spike can happen at any time.

And just like clockwork, the morning cartel smash commences. Take a look at the below charts. This is not how a free market trades folks. Gold and silver consolidate, rise overnight, and then get taken to the cleaners at 6am, 8:30-8:45am through 10-11 am on 75% of trading days. Only to once again slowly rise in the afternoon, and rise further during the Asian session. Blythe and friends literally seem to have gold and silver manipulation on autopilot!
Now that silver has broken decisively below $35, it looks like the cartel will attempt to induce another push towards the lows. Look for large buying to emerge near $34, which will only increase if the cartel can push silver back towards $32. If $32 does not hold, a new wave of selling could push silver all the way to $28-$30. As long as you're in physical, these games are meaningless to your long term position, and are in fact helpful. Continue to accumulate physical silver as Blythe gives you discount after discount. You should be buying silver now (~ 10am-noon appears to be the best time currently), and increase the size of your buy orders if/when the cartel is successful at pushing silver down to the above numbers.

In the bigger picture, the cartel is really not having that much success with gold. They are playing the same game, but gold is taking it like a man right now. The cartel has thrown everything at the metal the last 4-5 days, and gold is still trading at $1515, a solid $15 above the critical $1500. Euro debt/collapse fears are proving just too much for the cartel to overcome. Traders around the world want to own gold to protect their assets from devaluation and default, period. The trend will only intensify as the crisis progresses.

Try to take a few steps back and look at the big picture. Nothing has changed, both silver and gold's fundamentals have only improved over the past month. Hold on tight, the cartel is only increasing the frequency and intensity of the manipulation because they are becoming more and more desperate. There's only 28 million registered silver ounces remaining at the COMEX. These people will not simply give up and go home. Their game is ending, and they will respond like a caged tiger.
Too bad they've already lost the war.

Carlos Slim's Incredibly Smart Silver Sales

Nothing slim about Carlos.

Literally.

Say what you like about Carlos Slim and his preference for capitalist hegemony rather than philanthropy - the man can trade. In the years to come he will likely widen the gap between the richest man in the world and everyone else.

A few weeks back as Zero Hedge speculated that the silver shorts were DOA because Carlos Slim was about to purchase the remaining physical silver out of the market, Mr. Slim was out actively hedging (selling short) his own mine production two to three years out. In essence, likely more than doubling the market price he will receive if silver continues to trade along the parabolic arc as expressed by the Nasdaq, Circa 2000.

chart

Impressive - very impressive. Glad that Market Anthropology and Carlos are on the same page here.

-----------

Comment by Maria De Wind on July 9, 2011 at 8:55pm: NEW CHINESE EXCHANGE WILL DESTROY GOLD AND SILVER SHORTS, WHISTLEBLOWER MAGUIRE PREDICTS

kingworldnews.com
JULY 06, 2011

Whistleblower Maguire - This Will Destroy Gold & Silver Shorts

This morning London whistleblower Andrew Maguire told King World News that the launch of the new gold and silver exchange in China will destroy the remaining gold and silver shorts. Maguire stated, “The launch of this new gold and silver exchange has flown under the radar, but certainly has my attention. I firmly believe we are marking a pivotal point that will in very short order affect current precious metals price discovery dynamics. We now have an additional factor to be vended into the supply demand equation. This factor will ultimately destroy the remaining short positions in both gold and silver.”

Maguire continues:

“China is keen to diversify their cash holdings and is also encouraging citizens to make investments in gold and silver. The Pan Asia Gold Exchange is another step in this direction by opening up ease of access to physical gold and silver to their bank customers. This physical backed exchange is going to be a big game-changer.

Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform.

By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse. To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down....

“The impact on the price of silver will be even more pronounced. Silver is a much smaller market and already in tight supply. If just 1% of Agricultural Bank of China customers buy 500 ounces of silver, that would require 1.6 billion ounces of silver! I believe the leveraged and naked existing short side concentration in silver will be blind-sided by this. In my opinion it will create a massive short squeeze.

None of this potential new physical demand has been factored in by analysts and I expect a large and unanticipated drawdown of physical gold and silver over the next few months, ahead of the international contracts going ‘live.’

One of the key points here Eric is that many of these shorts are naked and heavily leveraged. Thus for every physical ounce of gold and silver taken out of the physical market and into this new exchange in China, it will force many multiples of that to be covered in the paper market.”

Comment by Jose Villarreal on July 8, 2011 at 11:42pm: The Economic Death Spiral Has Been Triggered

One of the strategies is the Asian Mercantile Strategy. The other is the US Dollar Reserve Currency Strategy. These two strategies have worked in harmony because

Read more
http://lonerangersilver.wordpress.com/2011/05/29/guest-post-the-eco...

Comment by Maria De Wind on July 6, 2011 at 10:31pm: BIS Changed Silver Data

(From $203 to $93 Billion in Silver Liabilities?)

Silver Stock Report

by Jason Hommel, July 6th, 2011

The Bank of International Settlements (BIS) has changed, or revised, their silver derivatives data in their derivatives reports. The change took place between their June, 2010 report, and their December, 2010 report, for the period of June, 2009. The change was from $203 billion in "other precious metals" liabilities, changed down to $93 billion.

The change took place, in Table 22A: Amounts outstanding of OTC equity-linked and commodity derivatives, By instrument and counterparty, in the category of "other precious metals", for June, 2009, Notional amounts outstanding.

In June, 2009, the silver price was about $15/oz.
http://www.silverseek.com/quotes/5silver.php

This means that the $203 billion silver liability divided by $15/oz. shows that all the banks in the world that are tracked by the BIS owed 13.5 billion ounces of silver.

But the entire world silver mining production is only about 700 million oz. of silver annually, so this is an admission that the banks owed about 19.3 years worth of world annual mine production of silver.

The adjustment, from $203 billion, down to $93 billion was a drop of $110 billion, or more than half of the number! The lower number, $93 billion, is still absurdly large, at about 6.2 billion oz. of silver, or about 8.8 years of worth of world annual mine production of silver.

The obviously large and very excessive amounts are the smoking gun of silver fraud by the western world's banks.

This BIS data is extremely important, because it is far larger than the excessive short selling amounts often noted at the COMEX, which typically is only about 1 billion ounces of silver, or less.

I attended the CFTC open hearings on silver manipulation.  A banking representative was asked directly what the banks were hedging by being so massively short of silver at the COMEX. The answer was that the banks were "hedging client long positions in the OTC market". That's obviously an admission of manipulation, because client long positions do not need to be hedged, since the client obviously wants to be exposed to the changes in the silver prices, which is why they bought silver to be held by the large LBMA member banks in the first place. So if the banks are hedging client long positions, it means that the bank has not bought the silver, and that they want to prevent silver prices from going up, because if it does, then the banks will owe their clients a lot of money, so, to "hedge" that exposure, they short at the COMEX, which is the market that generates "price discovery", since trades there create a trail and record of prices.

After all, imagine what the silver prices would be if the LBMA banks actually went into the market to buy 13 billion ounces of silver, or 19 years worth of annual production. Clearly, the silver prices could go hundreds if not thousands of times higher, and it could destroy the entire financial system of paper money.

The revision was an adjustment from $203 billion down to $93 billion, and the adjustment is strange, because it was the only number that was repeatedly and consistently highlighted in this silver stock report. It's also strange because the amount of the value of the gold contracts, at $425 billion, and other commodities contracts, at $3101, went unchanged for that reporting period.

This BIS change is significant, both in the relatively large silver amounts, and the reporting period. The change took place after I began publishing this BIS data, and soon after I filed the first anti trust complaint against JP Morgan with the Justice Department, in April, 2010.

http://silverstockreport.com/2010/doj.html

This data change also took place after the filing of approximately 25 lawsuits against JP Morgan over silver manipulation.

It has been difficult to document the BIS data change, since they often change the web links to their reports, and they change the reports directly. But a helpful reader has discovered the original reports at the BIS website.

From 2009, Dec report: $203 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa0912.pdf

From the 2010, June report: $203 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1006.pdf

From the 2010, December report: $93 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1012.pdf

From the 2011, June report: $93 billion for the June, 2009 period.
http://www.bis.org/publ/qtrpdf/r_qa1106.pdf

Since the BIS changes their urls and reports, I saved all of these pdf files, which are archived here:

http://www.silverstockreport.com/BIS/r_qa0912.pdf
http://www.silverstockreport.com/BIS/r_qa1006.pdf
http://www.silverstockreport.com/BIS/r_qa1012.pdf
http://www.silverstockreport.com/BIS/r_qa1106.pdf

And since the BIS changes their urls and reports, I also captured a print screen of these pdf files being opened directly on the BIS website:

http://www.silverstockreport.com/BIS/0912.png
http://www.silverstockreport.com/BIS/1006.png
http://www.silverstockreport.com/BIS/1012.png
http://www.silverstockreport.com/BIS/1106.png

In conclusion, it's not a "conspiracy theory" that the banks are manipulating the silver market. The BIS bank data shows the conspiracy.

And when the banks are saying indirectly, "don't trust us", given both the large amounts and large changes in their published data, it would be foolish to trust them.

It's a mathematical certainty that silver prices will explode upwards in price, and only people who hold their own silver will benefit from the major value change that's coming.

You can buy real silver from us at www.jhmint.com

We have much lower prices, or premiums over spot, right now. Everyone wants to buy on a dip. Now's your chance!

=====

I strongly advise you to take possession of real gold and silver, at anywhere near today's prices, while you still can.   The fundamentals of silver indicate rising prices for decades to come, and a major price spike can happen at any time.

Comment by Maria De Wind on July 2, 2011 at 1:26am

Comment by Maria De Wind on July 2, 2011 at 1:25am

Comment by Maria De Wind on June 21, 2011 at 10:27pm: Don’t Get Caught With Paper Silver

Comment by Maria De Wind on June 14, 2011 at 10:08am: Gold and Silver Update Tuesday, June 14th, 2011

Gold and Silver Update

And just like clockwork, the morning cartel smash commences. Take a look at the below charts. This is not how a free market trades folks. Gold and silver consolidate, rise overnight, and then get taken to the cleaners at 6am, 8:30-8:45am through 10-11 am on 75% of trading days. Only to once again slowly rise in the afternoon, and rise further during the Asian session. Blythe and friends literally seem to have gold and silver manipulation on autopilot!
Now that silver has broken decisively below $35, it looks like the cartel will attempt to induce another push towards the lows. Look for large buying to emerge near $34, which will only increase if the cartel can push silver back towards $32. If $32 does not hold, a new wave of selling could push silver all the way to $28-$30. As long as you're in physical, these games are meaningless to your long term position, and are in fact helpful. Continue to accumulate physical silver as Blythe gives you discount after discount. You should be buying silver now (~ 10am-noon appears to be the best time currently), and increase the size of your buy orders if/when the cartel is successful at pushing silver down to the above numbers.

In the bigger picture, the cartel is really not having that much success with gold. They are playing the same game, but gold is taking it like a man right now. The cartel has thrown everything at the metal the last 4-5 days, and gold is still trading at $1515, a solid $15 above the critical $1500. Euro debt/collapse fears are proving just too much for the cartel to overcome. Traders around the world want to own gold to protect their assets from devaluation and default, period. The trend will only intensify as the crisis progresses.

Try to take a few steps back and look at the big picture. Nothing has changed, both silver and gold's fundamentals have only improved over the past month. Hold on tight, the cartel is only increasing the frequency and intensity of the manipulation because they are becoming more and more desperate. There's only 28 million registered silver ounces remaining at the COMEX. These people will not simply give up and go home. Their game is ending, and they will respond like a caged tiger.
Too bad they've already lost the war.

Comment by Maria De Wind on June 5, 2011 at 12:07am: Silver’s New Trading Range

Silver’s destiny with its 200-day moving average appears to be sealed this week as a brief bounce earlier in the week failed at the 50-day moving average. From peak to trough so far this correction has run about 35%, which is still less than the 37% correction silver underwent from its parabolic peak in 2006. And the rally in 2005-2006 for silver was dwarfed by this recent run. In 2005-2006 silver went from $6.64 to $15.21 for a 129% gain. The 2010-2011 rally took silver from $17.22 to $49.75 for a 189% gain. So if this recent silver parabola follows the “higher they rise, harder they fall” rule then we should see a bigger correction than 37% peak to trough.

Silver has followed a repetitive spike, crash, and consolidate pattern during this silver bull market. The bulk of each crash lasted approximately two months, so if this crash follows the same pattern it should bottom sometime in June. Then silver should stage a recovery rally. The recovery rally has tended to be followed by a consolidation period, where silver just grinds sideways. If the crash is the “scare you out” phase, then the consolidation after the recovery rally is the “wear you out” phase. The goal of both of these phases is to recreate the wall of worry necessary to drive the next major rally.

Markets typically need time to repair the damage after a crash and that is essentially what the recovery rally and consolidation phases accomplish. It usually takes a period of time and multiple attempts for a market to overcome the resistance created by a sharp crash. Therefore silver investors should adjust their expectations and prepare for a sideways grind after the current crash has run its course. Expecting silver to race back up to 50 and make new highs right away is not out of the realm of possibility, but it isn’t probable based on how markets normally behave.

Based on past precedent the new trading range for silver is likely to be from the mid-20s to the recent high right below 50. There’s some support on the chart between 26-30 and this zone also resides underneath the 200-day moving average, so that area would likely prove tough to penetrate to the downside.

It should be interesting to see how long it takes silver to repair the damage done before it can attempt to stage a real breakout past 50. One important thing to note about bull markets is they tend to overcome corrections quicker as the bull market becomes more mature and accelerates to the upside. This next chart of the tech bull market shows how the market consolidated for years at a time early in the bull market, but later in the bull market it only took a matter of months to complete each consolidation period.

Comment by Maria De Wind on May 30, 2011 at 1:00am: Mrssilverqueen Discusses the 8 Reale, Monetary History, All While Keeping Silver Sexy!

Comment by Maria De Wind on May 26, 2011 at 6:00pm

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NEW CHINESE EXCHANGE WILL DESTROY GOLD AND SILVER SHORTS, WHISTLEBLOWER MAGUIRE PREDICTS

The Economic Death Spiral Has Been Triggered

(From $203 to $93 Billion in Silver Liabilities?)

Silver Stock Report

by Jason Hommel, July 6th, 2011

Gold and Silver Update

Carlos Slim's Incredibly Smart Silver Sales

Erik Swarts

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