Monster Spike in Western Precious Metals Demand

Fsge7FYes, Martha, western gold and silver demand is rapidly picking up steam. The GLD etf has seen an increase from 701.90 tonnes on June 19th to 711.44 tonnes yesterday. Elsewhere, the US Mint sold a record amount of 1 oz American Eagles Monday at 1,150,000. As POS trades in the range around $16, the US Mint June demand alone looks to be in the five million ounces range, or 8% of world production.

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Black Monday Math 101 Replaces Blind Faith in Central Banks

The psychotics in China started the week with a continuation of a classic crash and this despite aggressive PB0C monetary moves. The crazies like to invoke their divine right to stock market profits, something that has been reinforced by the criminals who function as their leaders. However, the parabolic blow off, during which millions of stock trading accounts were opened, has been erased.

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Markets Acts Psychotic in Face of Epic Fails

I’m sure I’m not the only one to say that it is quite astonishing that global equity markets can be so psychotically comatose in the face of a Black Friday event in the Chinese equity bubble and an obvious fail on the Greek default.



And after hours going into the weekend should not be a surprise, as the Greek government calls creditor proposals against EU rules, and then called for a referendum for next week and is ignoring the latest ultimatums.  Long lines are forming in the middle of the night at Greek ATMs as a bank closure looms.

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Open Casket Funeral of Clementa Pinckney: Madame Tussauds, the Real McCoy, or a Body Double?

A $29 million plus budget can buy a quality Madame Tussauds body replica, but I see serious issues. This looks like they tried to bring in a poor excuse for a doppelganger stiff from Haiti or somewhere. Here is “Rev. Pinckney” all laid out at his public viewing.

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Silk Road Precious Metals Buyers in Full Force

RussiaDollarsThe Russians ran a most impressive operation during the last 18 months. They dumped about half of their holdings of Old Maid cards from the U.S. Treasury and replaced a large portion of it with low cost gold. Up to now there has been much less transparency with China, but I am speculating they have been doing a version of the same maneuver.

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Silver Open Interest Just Piles Up, Continential Has New Resource Estimate

Open interest on silver futures blew out to 202,415 contracts Tuesday. The 7,051 added was likely was even more managed-money slinger shorting. Friday we will get the read on Tuesday’s positioning. These contracts now represent over a billion ounces of largely unbacked paper silver. There are 57,046 contracts still hanging around as the contract closes off going into another tense weekend globally. Yes, I know it usually doesn’t matter, but these numbers are volcanically extreme, just saying. So I’ll simply repeat my George Orwell quote from yesterday: “Whoever is winning at the moment will always seem to be invincible.”

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Storm Roof Agitprop Hoax Takes Down the Confederate Flag

images“Whoever is winning at the moment will always seem to be invincible.”  – George Orwell

If people wish to have an intelligent adult conversation about the pros and cons of the Confederate flag, fine. But I will be damned if I sit by and watch it fall prey to a hoax. This is a sad commentary.

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