Time To Buy Gold And Silver On Every Pullback

The soaring paper gold open interest on the Comex is just one indication of a shortages developing in the physical gold bullion market. It’s no coincidence that just prior and accompanying the sell-off in gold this week that Exchange for “Physical” and Privately Negotiated Transactions (EFPs and PNT) volume spiked up on the Comex. EFPs and PNTs are “derviative” transactions which enable the bullion banks to settle futures with cash or some other form of gold derivatives like shares of GLD.

There are other indications as well, which Chris Marcus and I discuss this week on his Arcadia Economics podcast:

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5 thoughts on “Time To Buy Gold And Silver On Every Pullback

  1. I have a suspicion that we are soon to experience a system and global, financial crisis. In my opinion, intervention by the central banking cartel, through massive money printing to underpin grossly inflated, asset prices, will result in the destruction of the fiat currency regime. I suspect that this time, a good portion of the counterfeit money will not chase stocks or bonds, but rather commodities (This is also Alisdair Macleod’s thesis).

    Commodity prices, in general, have been price managed no different than gold and silver, just less successfully. Gold has been managed more successfully because of it’s huge stock to flow ratio, and it’s importance as a monetary competitor to the dollar.

    Since we really don’t know the true global, public and private indebtedness, or the amount of financial fraud in the system, which I suspect , is enormous, the amounts of counterfeit money that will be required to halt a systemic asset deflation will be staggering and unanticipated.

    So, in reflecting upon Chris’s comment of a looming dislocation in the gold price, I anticipate (that when it occurs) a discontinuity in the gold price curve, will be large, permanent, and jaw-dropping.

  2. That’s a big 10-4 good buddy. I will not be eating cat food in
    my retirement. Twenty six years driving 18 wheelers and June 1st
    I’m all done. Just found your blog and glad I did. Keep fighting
    the good fight.

  3. “Privately negotiated transactions.”

    So the exchanges condoning using their platforms to allow sellers to meet customers and then condone taking the transactions off the exchange?

    What a novel business model for an exchange.

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