The Paper Stays As Physical Precious Metals Go Away!

Posted at 9:01 AM (CST) by & filed under General Editorial.

Great and Wonderful Wednesday Morning Folks,

      Gold is trading lower, with the price now at $1,555.70, down $2.20 and after the low of $1,550.00 was hit with the high at $1,559.80. Silver is following with its trade at $17.77, down 3.8 cents and recovering from its low at $17.675 with the high to beat at $17.86. The US Dollar still won’t budge at all, regardless of the actions within the political arena, with the trade at 97.355, up 6.1 points after hitting 97.460 with the low at 97.315. Of course all this happened already, before 5 am pst, the Comex open, the London close, and after another Veritas Video came out showing more of what children think just after the education they received from hard core socialists.

      Gold under the Venezuelan Bolivar, is now worth 15,537.55 Bolivar proving a loss of 14.99 with Silver at 177.478 Bolivar shaving off 2.297 since yesterday’s early morning report. Argentina’s Peso now has Gold valued at 93,374.74 Peso’s reducing its value by 6.23 with Silver trading at 1,066.56 taking out 13.42 A-Peso’s. The Turkish Lira’s value now shows Gold worth 9,213.60 Lira showing a reduction of 26.92 with Silver also getting hit losing 1.555 T-Lira’s with its last price at 105.258.

      January Silver’s Delivery Demands are in direct contrast to the Comex price as the Demand Count now stands at 155 fully paid for contracts waiting for receipts after yesterday’s 175 count increase in Volume that still wasn’t important enough to post a price. That’s right, another unwinding or winding into a spread trade, yet 875,000 more ounces of Silver were added for delivery and no price! So, was this added to the “73” that was waiting for their receipts or was it something in between? So far this morning, the Comex has no addition purchases or spread activities posted and we are forced to assume they are telling us the truth (cough).

       Silver’s Overall Open Interest dropped during yesterday’s punch lower with the count now at 233,960 Obligations still in the trade, showing a reduction of 2,250 since yesterday’s quote. Gold’s Open Interest, however, gained with the count total now at 794,728 Overnighters proving an addition of 29 Obligations were added during the (Feb) contract rollover. With all the unverifiable numbers within the Comex Delivery System, one would have to question all the other exchanges that sell precious metals along with this huge amount of paper (LBMA is one, but there are far more to add). Are they all doing the same thing and if so, what is the overall “real” vs. “paper” count? Maybe we’ll get there (as a way of measuring the entire manipulation) as time rolls on as the paper stays and as the physical precious metals go away.

      Here we are again, forced to watch a much small group of tax wasters, after 4 years of bullshit that no president should have to go thru, that still can’t get over the fact that the population voted for someone the Deep State doesn’t want. At the same time, nothing has happened to currencies or precious metals prices. We’ve no choice but to move forward, the great unwinding of paper will occur, as the prices are forced higher and higher. While we wait, it allows us the time to consider; is this group of Deep State despots directly linked to the Federal Reserve’s money creation system? And if so, will the next election help prove it all or will it bust out during this joke of a hearing?

     Let us wait it out, with physical precious metals in our possession, as the paper flays against the winds of trade. Keep the attitude positive, have a smile on your face no matter what, and as always…

Stay Strong!

J. Johnson