Gold And Silver Registered Comex Ounces - On Notes From the Bailout Boys

These are the registered ounces of bullion in the Comex warehouse.  Tightness is appearing in the retail physical market, but nothing is showing up here, yet.

If you need a reminder, a brief explanation of what registered and eligible ounces on the Comex means is here.

Janet Tavakoli is a very witty person, as well as being derivatives expert, a financial writer and a noted novelist.

She just sent me this via email:

Notes from the bailout boys:

Goldman 2013: With our economists expecting few ramifications from Cyprus.

Goldman 2007:  AIG presents no counterparty risk.

Insider Sales on the Sprott Physical Silver Trust

Someone emailed me about this, and I wanted to get the actual data so you can see it.

It appears that Eric Sprott has sold about 3 million shares of his Silver Trust so far this month.  That is quite a bit of selling, but certainly not unheard of for someone who is a billionaire.

I have it second hand that the sales are related to a commitment that Eric Sprott has to a charitable obligation, and has nothing to do with his views on silver or the Trust.  I obviously do not know with any certainty if this is the reason.

A similar search shows no such insider sales on the Sprott Physical Gold Trust.

I do have current positions in both of  these funds, and some of their rivals. 

I did not find anything about this on the Silver Trust homepage.  I would think that some comment should be made given the size of the sales. 

Insider Sales Data for PHS (PSLV in the US)

Note:  Ed Steer reports that he called Eric Sprott and that the sales are being conducted for a charitable obligation, and that the sales are also related to his belief that miners will outperform bullion so he is shifting his assets accordingly.

One might obverse that a simple press release stating one's intentions for a very large sale or purchase is customary for the actions of a significant insider in a substantial public organization.

Gold Daily and Silver Weekly Charts - Goldman Says 'Sell' and It's a Risk On Day

Intraday commentary here.

It is worth reading.

Goldman made a big bear call on gold today.  Let's mark it, and see how it turns out in six months.

SP 500 and NDX Futures Daily Charts - The Fed Let's the Dogs Out - Bubble On Ben

The Fed leaked the minutes of their last meeting early today, and some discussion by some members about ending QE this year had the market leaning to the bull side, and then encountering little resistance, it was a sky hook day as resistance fell by the wayside.

Let's see how the real economy acts, as we are now in earnings season, albeit with lowered expectations.

 The Fed has proven, over and over, that it cannot see those bubbles it creates, and blithely ignores looming dangers on a regular basis. It is hard to think of a forecasting outfit with a worse record, except perhaps Townsend, Greenspan & Co.

This is a bonfire of the mediocrities.  Try not to get burned.  But since they control the currency one has to respect their power, if nothing else.