Spot and premiums for retail bullion rising modestly, but noticeably. I’m thinking ripples of the surface being generated by Leviathan woken from slumber and ascending from the deep.
Is America importing to make sure the war machine, which undergirds the all-important Cantillion Effect, remains ready to Rock and Roll while the military machines of other countries wither? Are Uncle Sam and the ghost of Henry Kissinger JP’s big “customer” accounts?
As one analyst has put it, silver is “Boring, Boring, BOOM!” Looks to me like this may be a mushroom cloud boom, and it will never, ever go back to current prices.
And many volume end-users are now getting supplies directly from suppliers and refiners without seeing physical metal "flowing" through the financial markets where the bankers take their substantial cut.
Largely unnoticed by "analysts" and "experts" the US just announced they plan to default on their sovereign debt. Of course, being the US, they wrap this in some sugar-coated thingie, they call it the "Mar-A-Lago accord" - labeled after the place where the golfer-in-chief spends most of his time, maybe reminiscent of the Plaza accord, with one little twist: The Plaza accord was created by the major central banks of the world together - "together" nor being the favorite term of the current US administration, it seems. The "Mar-a-Lago accord" of course should be called the "You gotta be kiddin' me Accord", involving some BINO's ("Bonds in name only" because they pay no interest and cannot be sold for 100 years) but let's see when the world finds out and what happens to the shiny stuff then.
Perhaps the big squeeze won't occur for at least another month or so. Have some consolidation on capital asset sales then a large allocation to physical metal and mining stocks.
Neither Comex nor the EFP contract (under which Comex contracts go to London to die) are intended to be physical delivery mechanisms. However............
This may sound a silly question, but why would London not just hold the gold and silver and face the consequences, isn't it more risky shipping it to America then having less metals in the vaults which then becomes a national security risk as markets and debt implodes.
Thanks Dave. i think private contract breaches will be the least of there concerns when the debt implodes globally. Wouldn't it be better just declaring bankruptcy and to back door the metals internally to the Government for an emergency which seems to be coming.
Nice work David. My heart bleeds for them 🤦🏻♂️
It's going to get worse - best buy some tissue.
Yeah, cry harder😂
Nah not really . Criminals and fraudsters
Thanks David, it's getting juicy....
Another superb article highlighting the current fragility of the London market. Thanks David.
Thanks!
Spot and premiums for retail bullion rising modestly, but noticeably. I’m thinking ripples of the surface being generated by Leviathan woken from slumber and ascending from the deep.
Is America importing to make sure the war machine, which undergirds the all-important Cantillion Effect, remains ready to Rock and Roll while the military machines of other countries wither? Are Uncle Sam and the ghost of Henry Kissinger JP’s big “customer” accounts?
As one analyst has put it, silver is “Boring, Boring, BOOM!” Looks to me like this may be a mushroom cloud boom, and it will never, ever go back to current prices.
Invest in popcorn.
“Time and tide wait for no man”
Tic Toc…
Indeed.
all i can say is WOW! won't it be nice to have a market with no price manipulation.....well at least not as severe as this one has been.
Thank you David 🤙🏻
https://www.zerohedge.com/precious-metals/us-trade-deficit-explodes-record-high-ahead-trump-tariffs-bullion-imports-soar
Unlike gold I dont think there is lots Central Bank Silver reserves at the BOE vaults to tap into or lease out!
London silver market is cap in hand.
And many volume end-users are now getting supplies directly from suppliers and refiners without seeing physical metal "flowing" through the financial markets where the bankers take their substantial cut.
Largely unnoticed by "analysts" and "experts" the US just announced they plan to default on their sovereign debt. Of course, being the US, they wrap this in some sugar-coated thingie, they call it the "Mar-A-Lago accord" - labeled after the place where the golfer-in-chief spends most of his time, maybe reminiscent of the Plaza accord, with one little twist: The Plaza accord was created by the major central banks of the world together - "together" nor being the favorite term of the current US administration, it seems. The "Mar-a-Lago accord" of course should be called the "You gotta be kiddin' me Accord", involving some BINO's ("Bonds in name only" because they pay no interest and cannot be sold for 100 years) but let's see when the world finds out and what happens to the shiny stuff then.
I have a hunch.
All debt is burning now. It is just a matter of time.
Perhaps the big squeeze won't occur for at least another month or so. Have some consolidation on capital asset sales then a large allocation to physical metal and mining stocks.
We'll see how the London lease rates and pricing structure signal in the weeks ahead.
A lot of silver is still being pulled on a daily basis. Question is whether shipments to London can meet the demand for delivery.
Neither Comex nor the EFP contract (under which Comex contracts go to London to die) are intended to be physical delivery mechanisms. However............
This may sound a silly question, but why would London not just hold the gold and silver and face the consequences, isn't it more risky shipping it to America then having less metals in the vaults which then becomes a national security risk as markets and debt implodes.
It is not 'London'. Private, party-to-party contracts for which you face legal consequences if you default.
Thanks Dave. i think private contract breaches will be the least of there concerns when the debt implodes globally. Wouldn't it be better just declaring bankruptcy and to back door the metals internally to the Government for an emergency which seems to be coming.
It ends London gold and silver market and likely London as financial center.
He who holds the gold makes the rules!!
Silver too as it is remonetized.
I hope so mate!!
Agree and leads to social chaos as seen throughout history.
Have you read "Catch-22" ?
This is one.