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John Embry of Sprott asset

I firmly believe that the bullion banks,
(which have been the major perpetrators of the gold suppression for many years),
- realize that the ‘jig .....is almost up.’
- And ....they are making a heroic and what appears to be a successful effort to change their (gold and silver short) book around
(to being long the metals).

Because the sentiment in the whole sector is so negative, there are all sorts of other speculators replacing them on the short side.
- I find this absolutely unfathomable from an intellectual point of view,
- but in reality it’s happening.
I believe this is one of the pre-conditions that is required before the price of gold and silver ....goes nuts to the upside.

.........................The one thing the powers that be realize is............................

- the banking system is so compromised that....
- the last thing they want to see is .......these guys (the bullion banks) on the wrong side of gold and silver
- when the prices explode to the upside.

Currently
- they are fixing that situation,
- and we are very close to getting into a position where.....
gold and silver will be released to the upside.”
kwn

Moving on from Embry's comment...
-
The one thing the powers that be realize is....
- the banking system is so compromised that....
- the last thing they want to see is .......these guys (the bullion banks) on the wrong side of gold and silver
- when the prices explode to the upside.

Currently
- they are fixing that situation,
- and we are very close to getting into a position where.....
gold and silver will be released to the upside.”

......................................................................................................................

As to the - TPTB - fixing the situation aspect above........ This Progress report
- would seem to confirm Embry's point :-

Gene Arensberg's latest Got Gold Report, .....disclosing that .....
- the biggest commercial traders in silver
- have reduced their short position to..

......... the lowest level in - 20 years..........

http://www.gotgoldreport.com/2013/06/special-got-gold-report-large-trader-positioning-in-silver-furtures.html

On the moving along fronm - as happens with toppling dominoes
- yes - the Co-op
- the early headlines 30% haircut (nay bail-in) of junior bondholders
- is now touted by Moody's as......70%
- warning "warns investors may only get .....a third of their money back"

- and - "with the negative outlook indicating the risk that... the final loss faced by investors... may be greater".

- and - senior bondholders ?
- It also downgraded the bank's senior debt due to the "material risk" that, until the bank has finished its recapitalisation plan,........ "further burden sharing
- may be required at some point if these efforts to recapitalise and restructure the bank prove unsuccessful".
(They put theft - so nicely "further.....burden sharing" - aaah!)

- and - Standard & Poor's pushed the group's rating ....further - into junk territory
- and - "In our view,.... the added leverage will put pressure on the Co-operative Group's financial covenants, which has led us to revise.... the liquidity assessment to.......... 'less than adequate'

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10128049/Co-op-suffers-double-rating-blow-as-Moodys-warns-investors-may-only-get-a-third-of-their-money-back.html

And as I mentioned in my earlier post - when the SHTF - the prized family jewels go ...on sale
- the Boyz get to pick up - the lucrative Insurance arm - at a pennies on the dollar
- fire sale price
(Is Sir - drooling on another....saville row shirt)

Honestly - do NOT MISS this one

- The only guy on mainstream - that really out Farages.... Nigel Farage
- Rick Santelli - a Chicago Bond pit trader
- lets fly (& I mean lets fly - ....Chicago Style) - at the Bernank & FEDy
- and...it's live on TPTB sunshine blowing machine CNBC

http://www.cnbc.com/id/100828431

Do not miss - 4 mins of - Raw Chicago ....truth :o)

The above - worthwhile video - on click and play




Took a while to remember how to do that :o)

Saturn - good to see you here - hope you work out how to do charts.

Gaz - that last vid I can't access as it says "chrome for android cannot support this plug in". I have been able to access your previous vids.

All good stuff - interesting about capital situation with uk banks.

Looks like we're being prepped for a devaluation of £.

Have not heard 1 peep on the MSM tv here about the Co-op's bail in.

It also looks the pos is taking a serious nose dive this morning. Load up if you can find it.
I'm fully (over) extended and am looking forward for this to change direction........ upwards!!

have had a look, many ounces carry a serious premium.
On CID it's the Phillies, Noah's arks and Surinam dollars that are the cheapest
High spec traders have the cheapest ounces..... if they have them in stock.

only 1 left of this
http://www.highspectrading.co.uk/10oz-a-mark-silver-bars-31-p.asp

one of this
http://www.highspectrading.co.uk/50oz-sunshine-silver-bars-81-p.asp

and a few other bits and pieces

Squirrel
- should be able to watch - Santelli blow his stack (chicago style) via the link in the post above the embedded video
(Sorry can't help re the techy chrome/android/plug in aspect)

Snurkle
- the link you posted on silver products on the swiss link site was telling
- all either - out of stock
- or 4 week delays/lead in times

With real GOLD - selling at nearly $300 an oz ! - above the kitco paper price - in the recent Vietnamese Gov't gold auction last Fri - denotes
- the price of real physical
- - vs - the price at which ..the Morgue & buddies ...are being allowed to exit their paper shorts (in silver...well underway - now down at the lowest in...20yrs)

$20.......wow!
Looks like they're in a rush......... where's the fire

Re the Co-op
Has cameroon issued a D notice on that too (see stalag UK above)
- very little mainstream coverage - of this.... thin end...thick wedge

There should be "we interupt your normal viewing programme" bulletins with air raid sirens playing - saying....warning ! - Warning !....Cyprus bail in template "begins"
....here in the U.K.

As the article above makes clear "further - burden sharing" may be required
- if their savers wake up - and head for the exits (used to be called ...a bank run)
- their snowball escalates
- but at least TPTB club in addition to picking up the lucrative Insurance arem
- will get to pick up the other "family Jewels" at firesale prices
(the lucrative co-op pharmacy and funeral businesses etc)

Most people who think ...."I'm alright Jack" - don't realise that when this gets up a head of steam and rolled out into - the ....other financials
- whilst they may not suffer "direct theft"

- these bonds, financial shares....are.... probably held by their personal pension plans, corporate pension schemes, unit trust investments etc
- and the contagion knock on effects - these are also held as other Co's assets, cross share holdings etc - which then take a hit
- and those in turn are also are
.....probably held by their personal pension plans, corporate pension plans, unit trust investments etc
- etc & so on.

And the direct shares prices of all the Co's that get touched along the way - take a hit.

So one way or another - if you are traditionally - "in the system"
- Co pension scheme, AVC's, private pension, Co Bonds, unit trusts, share portfolio etc etc

Most didn't see the '29 crash coming, most didn't see the dot.com bubble, most didn't see the housing bubble, most didn't see the Mortgage backed securities/Lehman/AIG and after effects. The Cypriots - didn't see "the template" coming.
- I wasn't there in '29 - and I didn't see the others coming as quick and hard as they did
- and I'm I'm glad I wasn't a Cypriot

- but my eyes are wide open......on this one.

- So - the small Co-op snowball shows - the process has begun rolling....and one way or another......rolling in - your direction.

If at some point - the great unwashed wake up & the sheeple want "IN" on the real money metals
- whilst they are currently all in snooze mode, as Snurkle's link makes clear - wea are at ......"out of Stock"..."4 week lead in/delays".
- Imagine - when the snoozers....eventually....wake up.

"We interrupt your regular viewing - to bring you......"

The wedge failed after the Fed release and failed heavily, remember I said to watch for price confirmation...



S.

Gaz - I noticed my earlier chart has gone awol too?/

S.

sahara - just having a play around now in post 167 - they really do - seem to want to insist ....
- you go to stockcharts own site :o)

Gaz - I did notice the chart I posted yesterday had morphed into a live chart a short while after, so there may be some data issues/restrictions.

I wonder if there is an option to post an image/screnshot which would bypass the data issue.

S.

I have posted the charts on the other side.

S.

Sahara - had a play around - even "had a go :o)"
-at having a read of the java script in "source"
Need to go out - will have a look tonight .

Thanks Gaz - I am tied for time too, but will try again later.

S.

straight through $20

They really are desperate to flush out weak hands.

Sit tight, stick fingers in ears and go 'la la la la la la la la ' till next week as this can't carry on.....

This in favour of going out and get very wet :-)

Snurks - we bounced - you can look now. Someone got cheap pms.

Bloomberg so overboard - still they need to keep the mayor happy.