Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (82510)	8/5/2010 7:49:31 PM
From: longnshort	Respond to of 89467

Cold wave kills six million fish in Bolivia Wednesday - Aug 04, 2010, 12:52pm (GMT+5.5) [+] Text [-] La Paz (IANS/EFE)- At least six million fish have died in three rivers of Bolivia due to the intense cold wave sweeping through the country in the past few weeks. Authorities in the eastern Bolivian province of Santa Cruz declared an alert following the death of fish in the Grande, Pirai and Ichilo rivers that run through the tropical region. This is an "environmental catastrophe" brought on by the lowest temperatures registered in Santa Cruz in nearly half a century, Gov. Ruben Costas told reporters. He said that environmental experts have found that the rivers are highly polluted by dead fish, and he warned locals not to use those waters. The cold wave that gripped the Southern Cone of South America last month caused a severe drop in temperatures in southern and eastern Bolivia, even falling below 0 degrees Celsius. Bolivia's weather department has forecast that the southern and eastern parts of the country will continue to reel under the cold wave this week. Read more: indiavision.com

To: T L Comiskey who wrote (82510)	8/6/2010 9:57:04 AM
From: coug	Read Replies (2) \| Respond to of 89467

Thank you, Groceries will soon be gold:: Along these lines of trying to figure out where all the gold has gone. There was once a story about weaving flax into gold or so I am told.. So there should be more gold and less flax.. I'm confused. Everything is bassackwards today.... :) <<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Harvey Organ's - The Daily Gold Thursday, August 5, 2010 August 5.2010 commentary. Good evening Ladies and Gentlemen: Gold closed up by $3.50 to 1197.20 . Silver also rose a nickel to rest at 18.31. The open interest on both gold and silver continue to astound me and just about all analysts in the know on these precious metals. The gold comex OI fell another whopping 7206 contracts to 511,437. Silver's OI continued to advance up another 1235 contracts to rest at 124,679. This is of course basis yesterday with gold and silver advancing nicely! I am having great difficulty in understanding the reporting process with respect to gold. I can understand silver. In gold, there has been a tremendous lack of clarity from July 30 2010 until today. I am having difficulty in understanding why almost 100,000 contracts or 10 million oz of gold comex oz has disappeared in less than a month. I am having difficulty in understanding why 27,000 OI contracts after waiting the entire month decided to cash in their chips and not roll despite massive evidence to these traders that gold demand was on the rise throughout the world. Why is the silver Open interest rising and the gold open interest falling? Why has no gold entered any of the registered vaults at the comex? I will seek answers to these questions and it looks like something big is happening behind the scenes. Let us go straight to the gold and silver inventory and delivery notices: OK here are todays figures: Silver Withdrawals from Dealers Inventory ZEROoz Withdrawals from customer Inventory N/A Deposits to the dealer Inventory N/a Deposits to the customer Inventory 301,920 and 440,000 No of oz served 4 contracts served 20,000 oz No of oz to be served zero left xxxxx Gold Withdrawals from Dealers Inventory zero Withdrawals from customer Inventory n/a oz Deposits to the dealer Inventory N/a oz Deposits to the customer Inventory 1866 oz No of oz served 493 notices 49,300oz No of oz to be served 2467 notices to be served 246,700 oz Let us begin with gold: Please notice that zero oz enter the dealers inventory and thus none withdrawn. Only a small 1866 oz enters the customer inventory. There were 493 notices served or 49300 oz of gold. We have had a total of 5407 notices served or 540700 oz of gold. There remains 2467 notices left to be served or 246,700 oz. The total number of gold standing for this delivery month of August is 540,700 + 247,700 + 90,000 oz = 878,400 oz or 27.3 tonnes of gold. Now for silver where again strange things are happening over there. We got another of those internal transfers where 440,000 oz of silver leave the dealer. The (a) part of the equation was released Wednesday night. ie. 440,000 oz of silver leaving the dealer to destinations unknown..... Then (b) part of the equation showed 440,000 oz of that silver deposited into the customer inventory. Normally this is handled together but for some strange reason, the Comex folks decided to release this reporting in a rather haphazard fashion. When silver leaves the dealer and enters the customer inventory, it is lease in silver that is paid back. It does not address where the silver came from! To boot, another 301,920 oz of silver from destinations unknown was deposited to a registered comex vault of a customer (not a dealer) The comex announced that 4 notices were served for a total of 20,000 oz of silver. The total number notices served so far is 10 or 50,000 oz. They also announced that there are no more options to be exercised So the total number of oz of silver standing for this non delivery month of July is 50,000., as only 10 stood for delivery on July 31.2010. Silver has rebounded by about 80 cents from the beginning of August. Bryant Blake has been following the lease rates and he noticed a sharp rise in the lease rate He comments on what could have happened during the last few days of July and the first week of August with respect to silver. It looks like he is right: In the last week, silver has gained 81 cents with a 39 cent gain Friday (7/30), a 41 cent gain Monday (8/2), and 1 cent worth of gain for the other 3 days combined. Comparing this data to the silver lease rates, rates were in contango on 7/29, then the one month lease went into full backwardation on 7/30 and 8/2, then the market returned to full contango on 8/3. It looks like someone need to borrow silver for one month in a big way. The price in the window is not the actual price and a positive lease rate was agreed to for the one month lease. The borrower then bought hundreds or thousands of long silver contracts to hedge their borrowing. This explains the large price increase for Friday and Monday and explains why open interest has been increasing in silver while open interest in gold has been dropping. If this is correct, the silver inventory withdraws are going to continue or accelerate. harveyorgan.blogspot.com