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Has JPM cornered the gold market?

derrybderryb Posts: 36,779 ✭✭✭✭✭
in Precious Metals

If so, they are about to become the stacker's best friend.

"All of this could and should set off a buying frenzy/short-covering spree like no one has ever seen. Not only could and should price move higher in the weeks and months ahead, it should move dramatically higher, catching nearly everyone (except the readers of this site) by complete surprise."

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    funny how for years these guru's know all the plays of the opposing team & still lose every game...
    keceph `anah
  • derrybderryb Posts: 36,779 ✭✭✭✭✭


    << <i>funny how for years these guru's know all the plays of the opposing team & still lose every game... >>


    I think you will find a good majority of the serious PM bloggers have made large fortunes in the PM market.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The CFTC's Bank Participation Report dated 2/5/13 shows the 4 U.S. banks had a combined net short position of 69,300 gold contracts.
    5 months of deliveries and a $500 price drop, the 4 banks had flipped to 59,473 contracts net long. Hmmmmm?

    On the silver side however, those banks are in just the opposite position with silver....very much net short with a 4-1 short to long ratio (36K net short silver futures). Might be a
    straddle position of some sort.

    The previous COT report showed it to be a large short squeeze cover week with the hedge funds dumping 37% (21,000 contracts) of their gross gold short futures position. This has been
    the extra bulk position of shorts being carried by the large specs for most of 2013....and now gone. They specs are now carrying the typical amount of shorts seen during previous
    bottoms of the past 10 yrs. To add some confusion to this picture, the banks/producer/merchants in gold are fairly flat with a short to long ratio of 1.12 (20K net short). It's the swap
    dealers in gold futures that are carrying a HUGE net short position in gold with a 2.36 short to long ratio (67K net short). A decent % of the gold futures short covering fuel was spent
    last week. But the specs and swap dealers still have a lot more to burn.

    Ignore what the self-serving bullion dealers have to say - look at the CFTC - COT - BPR data yourself and come to your own conclusion

    BPR link - why did the 4 largest US banks trading in gold futures go from 69K net short to 59K net long?
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    I make it a habit to ignore all articles written by bullion dealers ( that includes this one ).. Especially those that have an interest in TV hucksters peddling overpriced bullion coins.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,814 ✭✭✭✭✭
    On the silver side however, those banks are in just the opposite position with silver....very much net short. Might be a straddle position of some sort.

    Yep, that's a "HMMMMMMMMM" alright. So the economy is going down and Tier One monetary assets are going up?



    I make it a habit to ignore all articles written by bullion dealers ( that includes this one ).. Especially those that have an interest in TV hucksters peddling overpriced bullion coins.

    TF is a bullion dealer? And is a TV huckster to boot? He seems to have a lot of research capabilities.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>I make it a habit to ignore all articles written by bullion dealers ( that includes this one ).. Especially those that have an interest in TV hucksters peddling overpriced bullion coins. >>




    So do I. What I don't ignore is the base data being presented that is straight from CFTC COT, BPR, BIS, and OCC reports. We all realize that a lot of these govt reports are rigged
    just like Libor, Interest Rates, NFP, and others. It's possible these other reports are just as riddled with questionable data.

    TF presented the information that is sourced to Ted Butler. I don't think TB is a bullion dealer though he probably has PM advertisers that he supports. He is more of a researcher and
    newsletter writer who does offer a paid subscription service. I've read the guy on and off for years and make my own decisions on the information presented. From my view you have
    GATA carrying the torch for the gold manipulation story while Ted Butler is carrying it for silver.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>TF is a bullion dealer? And is a TV huckster to boot? He seems to have a lot of research capabilities. >>



    He may not be directly involved with Silvertowne or their TV association (Coin Vault), but that article is posted on ST's web site.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭


    << <i>

    << <i>funny how for years these guru's know all the plays of the opposing team & still lose every game... >>



    I think you will find a good majority of the serious PM bloggers have made large fortunes in the PM market. >>



    Yes, those newsletter subscription fees, and advertising revenues from hosted links to other websites, can really add up image

    edit: Also....
    Turd Furguson

    Liberty: Parent of Science & Industry

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