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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.
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To: The1Stockman who wrote (1938)6/27/2014 1:13:17 PM
From: Robov1 Recommendation

Recommended By
CurveBall86

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It does appear on the surface that silver is indeed or could very well be in short supply. Here is a snippet from Ed Steers blog this morning.

There were no reported changes in GLD---and as of 10:06 p.m. EDT yesterday evening, there were no reported changes in SLV, either. However, when I was editing today's missive at 3:00 a.m. EDT this morning, I noted that SLV had been updated over at the iShares.com Internet site. Another 1,344,261 troy ounces were shipped out for parts unknown.

Since the gold and silver rallies began back on June 5, GLD has had about 66,000 troy ounces of gold withdrawn---but over at SLV over the same period, 8.12 million ounces has been shipped out the door for parts unknown. Because of these rallies, both ETFs are owed metal. As I've been saying all week, Ted Butler says that SLV is owed about 7 million ounces. So, where is it all??? That's one of several reasons that I wouldn't touch these two particular ETFs with the proverbial 10-foot cattle prod.

Of note as Ed points out since the rally of June 5th both GLD and SLV have seen metal LEAVE? And over 8 million ozs of silver? My understanding of these instruments is that we should see metal ENTERING as price moves higher, yet that is not the case and Ted Bulter figures that they are shorting the shares in lieu of adding metal. It seems like such a scam to me and nothing more than a source of physical for the banks to keep the paper charade going.

I notice that Trader Dan indicates that until we see metal coming into the GLD things remain bearish for Western investors. My question to him was were does he think these banks are going to find metal to replenish what they keep plundering. The fact that they have to keep shorting the shares on rising prices to remove metal to keep the suppression going tells me they have no other source of metal.

On another note I see the USD is falling again and has now taken out the 200 & 50 SMA's and is just barely holding on at the 100 SMA as I type this. And that the HARD CAP at 1320 remains on gold. Next Friday's COT report will probably be a doosey. I expect to see that the banksters have had to add massive new short positions and/or sell more longs or both to keep a lid on things and as I stated over at the MUX board THEY NEVER lose money on those short positions so we all know what that means going forward. Add to that the over bought conditions and we'll almost certainly have our correction.

I can't help but think that Monday could be ugly for the metals and that the S & P will be a BTATFHFTF kind of day for the big 3. (2Q profit taking to make the books look good)
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