GOLD - ACTION ALERT - BUY

Silver continued to push higher yesterday, but so did gold, silver, palladium, platinum and copper - though copper was unable to push above Friday's 3.8340 recovery peak. Silver touched 32.91, inching toward my targeted 33-35 range. I am giving the metals the benefit of the doubt and remain on my near-term BUY signal. As you know, I'm in the camp that calls for the breaking the COMEX/CME's back! We need to expose them for the thieves that they are! I am, of course, referring to the phoney 'paper market' which is utilized by large market players like JP Morgan to suppress the metals markets, especially gold and silver. I've cited this example before, but it's well worth repeating: On average, 750 million ounces of silver are mined each year. On average, 34,000 contracts are traded on any given day. With 5000 ounces per contract that equates to 170 million ounces of silver traded each day or, believe it or not, 34 billion ounces per year. According to my calculator that equates to a 45 to 1 ratio, assuming 200 trading days in each year. Mind you, this is only the CME/COMEX. It does not include any of the silver ETFs or trading on the London Bullion Market Association (LBMA). Imagine if a large percentage buyers of silver futures suddenly decided to demand delivery of the physical silver. Folks, it won't be pretty. A short squeeze of monumental proportions would ensue. Of course, the vermin (that's what they are!) at the CME/COMEX might try and temper things by dramatically raising margin requirements or even closing the exchange, but that may be too late to save them. My admonition is not addressed against the entire futures industry, but they are still indirectly responsible for permitting this to occur and not demanding the end of this practice indicting those responsible. This goes for individuals such as Jaime Dimon and the CFTC. Meanwhile, there are just too many 'bad apples' - with some of those apples so far up the tree we may never be able to reach them and 'pluck them'.