If you think the oligarchs running the show are going to tell you in advance when they are going to pull the plug and fuck you over again, you haven’t been paying attention. All of the turmoil in the gold and silver markets is a cover for their plan to reset the worldwide currency scheme. The wild gyrations in the Japanese bond, stock and currency markets are a warning that things are going to blow. Bernanke and his minions are desparately trying to hold things together until they are ready with their reset plans. The clueless dupes on the beach are amazed that the tides have receded. They are venturing out onto the sand where the ocean formerly flowed looking for trinkets and bobbles. They should be running for higher ground, but the TV and government officials tell them not to worry.
It will happen suddenly. Are you ready? Do you have cash on hand? Do you have food and water on hand? Do you have physical gold and silver on hand? Do you have a gun in hand? That is a tsunami wave in the distance and it’s coming fast.
I have included some comments from Nick below that touch on some factors that had not yet occurred to me.
|Total Ounces In Warehouse Including Both Registered and Eligible|
Here is the summation of quite a few repositories/Trusts/ETFs/Funds that list their inventory levels.
Here is a comment on this from Nick:
Since Dec 31st
Gold holdings have fallen 17.5 %
Silver holdings have risen 2.7%
Platinum holdings have risen 0.1%
Palladium holdings have risen 8.2%
I believe that there’s a transfer of gold holdings from the publicly visible sector to the private sector where the numbers cannot be followed. Gold holders are taking possession of physical by removing physical from public places, eg. Comex, and selling them from visible accounts, eg. ETFs.
I do believe that there is a lot more to this than meets the eye and that we’re seeing the initial transition stages that in a year or two’s time we will look back & say ‘Aha!’ Gold is flowing not just from West to East but also from public to private places, and this I think is solely related to Cyprus and the future implications of a financial meltdown.
I think we’re on the verge of the music stopping and a rush to safety.
All we need do is sit back and watch what happens to these public stocks when gold starts rising again. My bet would be that public stocks will continue to dwindle as more people feel unsafe about where their gold is held.”
I tend to agree. I also think that a fear of the ‘rehypothecation’ of gold, especially in light of the seizure of assets held even with allocated receipts in the failure of MF Global, is driving people to take more care about where they keep their wealth.
As Nick points out, the biggest drawdowns are in gold itself. Ted Butler has recently speculated that some of the bullion banks may be taking inventory on the cheap as GLD disgorges inventory. So something is happening with gold that is not happening in the same way with the other precious metals.
And I am sure that by now you know that I am persuaded that big changes are coming to long standing global currency arrangements.
My first take was that on the whole this remarkable inventory drawdown in public repositories in the West resembles the receding of the ocean after an earthquake. I don’t think the bankers realize the signals that they sent to the markets with the manner in which they handled Cyprus. And MF Global and the entire financial crisis for that matter. These things take time to build, and then it seems that suddenly people begin to act.
We will have to wait and see what comes next, and, as Nick points out, what the inventory levels do when the price of gold starts rising again.
Posted by Jesse