The bluff will finally be called…
A little over four years ago, gold and silver were blasted with sales from “the Jolly Green Giant” that caused major price declines. If you recall, this happened immediately after a closed meeting between Obama, the Treasury secretary and the heads of many banks and brokers.
We wrote about it at the time and discussed the outsized (and naked) sales on COMEX, concentrated in very short timeframes that actually came in waves. Since then, we have seen a half dozen of these events each year and always coordinated with key “technical” levels. In other words, the sales were a very large paintbrush used to paint the charts to display the “official” all is well picture.
The outsized sales always worked to depress price until Friday.
Friday saw our Green Giant again enter the COMEX floor to dump 2 million [paper aka counterfeit] gold ounces and 50 million [paper aka counterfeit] silver ounces.
- This amounted to about 2.5% of annual global gold production and about 6% of annual global silver production …in ONLY TWO MINUTES!
- In perspective, the COMEX holds 735,000 gold ounces and 38 million silver ounces in their dealer (deliverable) inventories.
- Let’s call this $1 billion and $650 million worth which is completely laughable in a world where $5-10 billion takeovers are done every single day.
As we pointed out last week, the dollar was used (“forced”) on the world for the last 40++ years. It was “forced” by our military plain and simple.
If you don’t believe this, ask the ghosts of Saddam, Khadaffi and other deposed/dead leaders who tried to break away from using the dollar? But recently it looks as if our military may have been technologically neutered based on the recent naval “mishaps”.
My point is this, we may not have had a COMEX run in the past for two reasons, 1. for fear of military retribution. 2. because why upset the apple cart as long as gold is still being delivered?
But the equation is changed if the dog has had its teeth pulled and is running low on deliverable metal. We have no way to know for sure if the bottom of the barrel is in view but we do know for sure it has been over 20 years where physical demand has far outstripped global production plus scrap supply. We are much closer to Western gold running out today than any time prior based on supply/demand basics.
Our naval ships being rammed and buzzed are a giant middle finger which has followed unprecedented dollar sales as evidenced by the FOREX dollar waterfall. The final middle finger will cost less than $2 billion to gobble up the woefully low metal available that has represented “strength” to this point.
COMEX will be broken because it is a “broken” concept to start with.
The Counterfeit Derivative Con aka; Fraudulent Promissory Agreements
Argue this all you want but then explain how 500 contracts can be backed by only one single ounce?
Please understand we are in a war where shots fired are financial.
The U.S. is broke without argument and fighting a financial war where we could always use the final threat of military action. If the military has been defanged then the end game to our Ponzi has finally arrived because “forcing” new money into the scheme is no longer viable. [McCain was in charge of “defanging” our military]
We have asked readers to imagine a world where “credit” is unavailable. We asked this because it is exactly where we are headed. Without the benefits of free issuance of the global reserve currency, credit in reality will evaporate and no longer be forwarded to Uncle Sam.
See Iceland’s Nullification Of Debt And Imprisonment Of The Rothschild Deep State
Quite simply, we will need to adjust our lifestyles down to what we actually produce.
A 50% drop in goods available (as everything is now imported) will be a rosy scenario. ALL sides of the equation will break. People will lose savings and not have funds to purchase the fewer goods available (produced here and not imported) that actually get to market with a distribution system in gridlock! Get ready to do with less …or without.
And This Is An Example Of What Is Happening In The World Naturally
As for the metals, the world is clearly (being led by China) moving towards cash markets and away from paper markets.
The implosion of COMEX will come swiftly and possibly with no warning at all. It could be they receive an “unfillable” order and know delivery will be demanded.
The rules will change or they will simply end the contract …because it is a contract that cannot perform or be honored.
We have lived a credit fueled fantasy lifestyle that lasted so long, “normal” or living within ones means is not even a distant memory. We are very soon to see the “bluff” of the U.S. called and will include the biggest bluff of all …gold! [Gold & Silver]
You will be told “it won’t happen …because it hasn’t happened”. This is very dangerous thinking and mostly dangerous to you if you believe it.
The U.S. has run roughshod on the world for years and is now in a very weakened state. If you cannot see this then no one can help you.
Think back to your school days when the “bully” was in a weak position? He was sucker punched and even piled on by the geeky guy with glasses in the band. He was not liked and people were happy to see him fall. Similar to the world’s view of the U.S. today?
The stakes are very high for you to understand this writing. I say this because your understanding or non understanding will affect how you, AND your children/grandchildren live out their lives. You either understand and see through ALL the lies we are fed today, or you don’t. You absolutely must think for yourself and know that no one other than you …is going to protect you!
The biggest laugh is those who say “the government will never let it happen” …I have news for you, they are the ones responsible for it!
As an addendum, the dollar is continuing to break down while gold/silver are breaking out to the upside. This may be your warning, once control is lost, the unwind will be rapid!
This was written for JSMineset subscribers and published Tuesday. David Schectman is undergoing a medical procedure and asked if I could publish a couple of articles in his absence. I gladly obliged as we still have close ties between Miles Franklin and JSMineset. If you enjoy this, please consider subscribing here https://www.jsmineset.com/membership-account/membership-levels/ .
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