Monday, November 29, 2010

Comex Default for Gold and Silver Finally at Hand for December? Looks Like It May Finally Be the Month!

It seems things are about to get really interesting at the Comex!  There is one site I go to every day to read the latest of what is happening in Gold and Silver and the numbers from the Comex.  That site is Harvey Organ!

If you are in the least bit interested in metals - gold and silver than Harvey Organ's Blog is a must read!  Every day he will  put out the numbers of the Comex and today he gave the best news I have read yet about metals!

He says a Comex Default looks to be at hand!!  The amount of orders standing for delivery for the month of December is much more than the Comex has officially listed on hand!

Also, remember the shorts on metals, especially J.P. Morgan has on silver is Huge!  They have to cover their shorts for those who are standing for delivery!  How will they do this?  Considering the millions of ounces standing for delivery in December?  Bet they will be calling those longs and offering a huge percentage over the long value order in cash, instead of physical.

Portions from Harvey Organ's Blog today, excerpt from Truth in Gold Blog :

BUT, right now based on the o/i for gold and silver, the Comex is potentially insolvent.

With that said, the open gold o/i as of this morning is 59,412 contracts. This translates into 5.9 million ounces. The Comex gold inventory shows only 2.6 million ounces of gold registered and approved for delivery. There is a total of 11.4mm ounces.

In silver, there are 17,208 open contracts. This translates into 86 million ounces. The Comex reports 48.5 million ounces available and approved for delivery, 107.2 million total ounces.

What does this mean, in the context of the cartel being unable to force liquidate a majority of the open gold/silver positions? Everyone reading this can use their imagination and I'm not willing to predict how this will unfold, but right now the Comex has a problem.



**What is Great, We can all be roasting Chestnuts on the Open Fire for Christmas as the Comex will be trying to extinguish all the Fires, along with J.P.Morgan and HSBC! I think I will go and get a bag of Chestnuts...... Just for Roasting!****  So, read Harvey to know what the deal is everyday this month, we can all watch those numbers.... as we are munching on our popcorn... enjoying the show!  

UPDATE - 11/30/10 - KingWorldNews - Pan American Silver CEO - says End users of Silver are having a hard time getting the physical needed for Industry, never mind investments!


UPDATE 12/1/10 - King World News - Interview with John Hathaway says $100 moves in one day will begin happening in Gold. 

UPDATE 12/1/10 -  King World News - Jim Sinclair - Says Gold at $1650, BEFORE years End!

7 comments:

  1. "When the truth comes into the light, the lies will hide in the dark"... Ponce

    Is not only with COMEX but with the US as a whole.

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  2. Think of a world where EVERYONE even the dullest KNOWS JKF was murdered with the co-operation of the highest levels of the USSA government.

    Think of a world where EVERYONE even the dullest KNOWS RFK was murdered with the co-operation of the highest levels of the USSA government.

    Think of a world where EVERYONE even the dullest KNOWS MLK was murdered with the co-operation of the highest levels of the USSA government.

    That world may not be far off is we ALL learn and SPEAK these truths.

    ReplyDelete
  3. Have been hearing that story for a while.
    That video is from Nov 2008.

    But will love to see the truth. I think this is where the Gold price has been manipulated to make the USD look expensive to other currencies.

    ReplyDelete
  4. Vega, thank you, I did not realize that, I had gotten it off youtube from a date of earlier this month as that person putting it on. Thank you for pointing that out. I remember 2 years ago, when many thought there would be a December default. Lets hope This December will now be it! And it looks like it just may!

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  5. I went ahead and took out the Keiser video since it was 2 years old! ooppsss.

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  6. Comex short on physical? They'll pay off the customers with TARP or just more Fiat currency. If there is a printer, theres a way. Best guess is they've got this contingency covered: maybe arrest anyone who tries to cash in their metals and call them a terrorist. Even more likely, the 911 Patriot Act for confiscating OUR metals already on Congress' desk for signing.
    WE'LL bail them out, like we did w/ fiat, but this time in GOLD. What do you think all that heavy weaponry is for?

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  7. If you want to know the extent to which the corruption exists, let me briefly explain it to you. I have a website called "Oil Trading Academy", and you can find this information on the web page "Secret Revealed" there. And the secret I refer to is the fact that the entire Futures markets, like Gold, Silver, Oil, Currencies, etc are 100% controlled by a computer program. Another words, these markets do not trade, they are controlled in advance by a computer. I'm a scientist and philosopher and can assure you this is 100% true. So come out of the Matrix and realize that EVERYTHING is controlled, not just the Futures markets, but everything on a quantum level (exceeding complex level).....David

    ReplyDelete