The elitists’ bid to rig the BREXIT referendum failed. Notwithstanding a continuous flow of propaganda sponsored by the elitist-controlled mainstream media showing that the Remain vote win, the public’s voice in England prevailed.
As I suggested yesterday, the BREXIT pandemonium deflected the public’s attention from the collapsing western economies. The most prominent sign of this is the Fed’s unwillingness to raise interest rates just one-quarter of one percent. Today’s durable goods report showed a 2.2% plunge in durable goods orders during May. A drop of .5% was expected. This 17 months in a row of year over year declines in “core” durable goods orders. Freight shipments represent the “pulse” of an economic system. The Cass Truck Transportation Index is in a literal free-fall.
The boost in the U.S. dollar vs. most global currencies will undermine any uptick in export activity that was preliminarily reported for June. The alleged 4.9% unemployment rate shoved down our throats by the Government and Janet Yellen is belied by the fact that the percentage of working-age people in the U.S. is at its lowest point since the late 1970’s, a time when most households were still one-income in nature.
Perhaps most at stake for the elitists is the paper war on gold and silver that intensified when the metals threatened to go parabolic in 2011. But there is evidence that the paper rigging scheme is failing. To the extent that a BREXIT event undermines the euro, one of the collateral consequences for the elitists is that it will hasten the conversion of fiat currencies into physical metal.
But there’s a problem. The most glaring evidence of this problem is the catastrophic issuance of Comex paper silver claims on a shrinking pile of physical silver in Comex vaults. Since January 20th there’s been a stunning decline in reported Comex silver inventory.
Currently, the amount of paper silver contracts issued on the Comex represents over one billion ounces of silver. This is more than seven times the total amount of physical silver reported to be sitting in Comex vaults. It’s 45 times more than the amount of “registered” (available to be delivered) silver on the Comex. It’s 25% more than the annual global production of silver.
I discuss this issue in the latest issue of the Mining Stock Journal, which was released yesterday (Thursday). I present another junior mining stock idea that has still not been discovered by the mainstream mining stock analysts and purveyors of research. You can access the MSJ here: Mining Stock Journal. New subscribers will receive a copy of all of the back-issues plus a discount link for the Short Seller’s Journal.