Gold Daily and Silver Weekly Charts - Tightening - Can't Touch This

"Big squeeze with shortages starting now both on the wholesale/retail level and at the bulk level. Unless the paper price is reverting up, it may not subside this time around and then the paper fiat mess (including paper prices of gold and silver) is in trouble.

If it goes to the point of shortages at the bulk level like 1kg gold bars and 1000 oz silver bars, the emperor will stand without clothes."

Torgny Persson, BullionStar CEO

Now is the time to get your own house in order, and to make the arrangements to protect any bullion you own as wealth insurance.

This means holding that bullion in private vaults to which you have personal access or subject to regular public audits.  It means owning your 'insurance' without leverage, sharing,  and without intervening parties who may use the bullion for hypothecation as collateral for third party obligations.

Insurance is for those instances when times get tough, and a deleveraging under duress is occurring.

While this is not a likely scenario normally, now it seems to be more possible than one might expect.

There was intraday commentary about NAV Premiums and the Paper to Bullion ratio on the Comex here.

Ring the bell; school's back in.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - All Eyes On the Fed - Let It Whip

Stocks tried to rally today, but just managed a little bounce.

If you take a look it is clear that stocks are 'coiling' within fairly tight symmetrical triangles ahead of next week's FOMC meeting.

Fundamentally the economy is weak, and financial assets are overpriced.

They could get more overpriced here for the short term, but the risks still seem elevated.

The primary weakness in the economy is the lack of wage growth providing the disposable income that consumers need to repair their domestic balance sheets and to do the kind of broad and steady buying that will be a stimulus to GDP and aggregate demand.

The difficulty is that the one percent is keeping a huge portion of the domestic public down financially, the better to shift their wealth through political policy, tax loopholes, and wage suppression.

It is not a good longer term situation but the ruling classes and their courtiers are traveling in rarefied realms of their own construction.

Have a pleasant evening.

NAV Premiums - Comex Paper Ratio Rises to 228:1 - Sprott Gold Reports More Redemptions

"It is virtually impossible to get physical gold in London to ship to those countries now. We get permanent requests in Russia now. Would we please sell our physical gold to India and to China?

Because there is not enough physical about.  There are endless promises. And I worry that the market, the paper market, could be stamped on and people say 'sorry we're going to have a financial closeout' and it's all over. If you want to be in the gold business, you ought to be in the physical business."

 Peter Hambro


"I just got off the phone with A-Mark which is one of the world’s largest wholesalers. They are reporting that they have no gold and silver at all live available, that they have stopped taking orders for Silver Maples and Silver Philharmonics altogether and that Silver Eagles are available first in the end of November. For Pamp, there is similarly long delivery times for all minted gold bars.

We still have most products in stock because we stocked up as massively as we could in the last weeks but for many products, we are unable to replenish as of now when we run out."

Torgny Persson, BullionStar CEO

The ratio of potential claims per deliverable (registered) ounce of gold bullion has soared to 228:1.

How fortunate that September is not an 'active month' for gold at The Bucket Shop.

Sprott Gold trust lost another 34,356 ounces of gold bullion since the last time we checked their numbers on August 24th.  This is just over one metric ton, or tonne.