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Message: Ho Hum...another day of short shrift.
As per the following excerpts from Le Metropole Cafe, the short positions are beyond all ethics and have reached historical proportions. It is exemplary of repugnant, illegal and defiant activity by those wo are criminally determining the markets. It also appears that gold requested for delivery is beng met with cash, not bullion. Other lies include Barrick's pronouncement that they have setteld all their hedges...which is virtually impossible, more lies and cover-ups. All we need now is the sex and videotapes. Good thing the media is doing a bang up job (pun for LongSFMI) covering the Tiger Woods saga. What has our world come to?
Sinclair is convinced the JPM shares will erupt with the "discovery" of default in the GLD and SLV ETFs. So, we still don't see much movement in the shares (except for a choice few like DRG which is rumored to be a takeout target) of the JPMs.
"Talk about a MASSIVE increase in gold and silver Commercial shorts with both metals’ prices hitting new highs….and still going up.
http://www.cftc.gov/dea/futures/deacmxsf.htm
Here’s the updated Commercial short position – again, HOLY S-T, they increased it by nearly 25,000 contracts last week to a new all-time record. And not just a new record, but a new record by nearly 10,000 contracts (at 306,000 contracts vs. the old record of 297,000 contracts set just four weeks ago). In silver, the Commercial short increased by a huge 6,000 contracts, an increase of a whopping 10.3% from last week, and back up to last month’s highs. These guys will be TOAST very, very shortly, particularly in gold where they are being absolutely swamped by physical demand! If only the moron COMEX longs would be smart enough to take delivery (and demand gold, not GLD). But even if they get GLD, the damage to the Cartel will be substantial and irreparable.
Here's the latest COT charts
We now have the largest short/long positions ever in the Gold COTs although Open Interest is not at it's maximum.
Still more room to run.
Cheers Nick
There ought to be an investigation into the CFTC as to why they allow the concentrated Gold Cartel gold and silver short positions to grow and grow. They need to go no further than Jamie Dimon and JP Morgan Chase! Then we have…
To:ggensler@cftc.gov, BChilton@CFTC.gov
Subject: SLV and GLD Today, the short positions on the NYSE were reported.
Consider this as an official complaint in the SLV and GLD shorts.
Shorting shares in the GLD and SLV is illegal as bullion has not been deposited to the trustee on these shorts.
This no doubt will lead to a catastrophe once the music stops.
I urge the chairman of the CFTC and the Chairwoman of the SEC to stop this practice immediately.
It also violates its own prospectus.
The SLV ETF short position increased from 7,835,934 shares to 13,133,787 shares, an increase of 68%. The GLD ETF short position increased from 12,147,164 shares to 13,862,173 shares, an increase of 14%.
Sincerely
This is staggering news and ought to set off bells, whistles, and fireworks all over the gold world. What we have here is a MAJOR DEFAULT of STAGGERING proportions, unless I am really missing something here. The only question for me is will the Comex spin this like Tiger Woods?
Dave from Denver follows up with…
Re: Gold, the Comex, and Exchange for Physical What's ironic about accepting GLD or IAU in lieu of gold is that it is very likely that GLD does not have even close to the amount of gold that it's supposed to have. And, you have to own 100,000 shares in order to exchange your GLD shares for gold from GLD. If you take GLD in lieu of gold for 1 Comex gold contract, you are merely getting paper with no ability to exchange that paper for real gold. The whole system of investing in gold has become no different than any other Ponzi scheme. The Comex is hoping that holders of gold contracts will settle for cash or shares of GLD. GLD is counting on its investors never owning enough shares to force convert into gold. All the while, how can we prove that Comex and GLD actually have the amount of gold required to stand behind their paper claims. I'm on record saying they do not until they step forward with independently verified proof that they do. What do people running this country have in mind when it becomes apparent to all that the our system is one big fraud?
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