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http://www.zerohedge.com/news/2013-07-01/jpmorgan-comes-out-first-overweight-call-commodities-september-2010

I think the bottom is in too. Things like oil are going to go through a turbulant time - look at Egypt, Syria, Iraq is still dangerous & Afghanistan. All will contribute to higher prices. PMs will follow. Very sparky these young folk - they're not going to give up. Big push for what they want.

http://www.cobdencentre.org/2013/07/forward-guidance-nonsense-central-bankers-have-no-choice/

Posted on other site on SCLP thread and very interesting.

https://www.youtube.com/watch?v=FrwZN1cPfX8


macnai 6 Jul'13 - 03:26 - 898 of 901 0 0

Cure for Malaria?


Too easy,too cheap?
Please view the video and make up your own mind.

mabel

Good afternoon
Snurkle
- interesting read re the diatomaceus earth - just ordered some. Interesting read - great for clearing slugs and bugs, and handy as an internal digestive parasite cleanse too.
The potential health benefits looked to good to not try and your rec goes a long way.

Read the warnings re do not breathe with interest, seems about the equivalent in effect of inhaling fibreglass fibres.

Will let you know how I get on with it.

Mabel

Thanks for the link to the equine supplies - a good value source of both products.

Human tea tree shampoo in the shops - usually has no tea trea oil in it (just an aroma). A bit like wrights coal tar soap used to have coal tar in it, now it doesn't have any in, just the smell equivalent.

Horses always get the good stuff - they don't have health insurance, or NHS generating huge profits for big phrama when ..they.. are ill

Actually have some of the Jim Humble sodium chlorite solutions stuff in the cupboard (a just in case solution to any dire infection).

- The cover up by the Red Cross of it's 24hr effectiveness against malaria was very interesting to watch.
(no great suprise tho' if you track back the R/Cross origins - they.. wouldn't want all those Africans not dying an' all)
- sad world when you see..... the big picture

All Edward G Griffin stuff is worth reading or listening too.

This one is well worth the time on the (sad) really big picture & how it ticks.

http://www.youtube.com/watch?v=udWXFC2sWU8&feature=player_embedded

Only got back last night.
Last minute choice with the weather set fair, to throw in the camping gear and head for a fixed Norfolk coast rather than tour down the coast.
Son now settled in new house and ours still in one piece after his week in residence :o)

Other son said with the weather looking blazing for the weekend, if we were going to stay on a few extra days, then he would come down with his partner (and camping gear) as they had Monday booked off as lieu days.
- with the weather as it was, didn't take much arm twisting.

When we go away no TV, no newspapers, no internet etc...we just step off "the world" other than odd 2min news on the car radio when we are on the move.

So will do some catch up reading tonight.

Today, something happened
- that has not happened since the Lehman collapse:
- the 1 Month Gold Forward Offered (GOFO) rate turned negative, from 0.015% to -0.065%, for the first time.... in nearly 5 years,
(or technically since just after the Lehman bankruptcy precipitated AIG bailout in November 2011).

And if one looks at the 3 Month GOFO, which also.... turned shockingly negative overnight from 0.05% to -0.03%,
- one has to go back all the way to ......the 1999 Washington Agreement on gold,
to find the last time that particular GOFO rate was negative.

CAUSE ??
- the reality is that one can't know for sure .....until after the fact.
- It may be one of many things:

•An ETF-induced repricing of paper and physical gold
•Ongoing deliverable concerns and/or shortages involving one (JPM) or more Comex gold members.
•Liquidations in the paper gold market
•A shortage of physical gold for a non-bullion bank market participant
•A major fund unwinding a futures pair trade involving at least one gold leasing leg
•An ongoing bullion bank failure with or without an associated allocated gold bank "run"
•All of the above

The answer for now is unknown.
- But - What is known .......is that something very abnormal,
- and even historic,
is afoot...... at the nexus of the gold fractional reserve lending market.
zh

Snurkle - if you remember the Chilean miner who took on Barrick gold - over the ownership title of the Pascua Lama

Coincidence ??
(or nice cover story :o)

Barrick Mining - expects to book.... $4.5-$5.5 bln impairment charge... on Pascua-Lama

TORONTO, June 28 (Reuters) - Barrick Gold Corp said on Friday it is slowing construction at its Pascua-Lama gold project in South America,
- as it looks to rein in spending on the severely delayed project,
- already billions of dollars over budget.

Wow it's hot out there (missing the sea breeze already)
- preparing/& repairing :o(... an 8ftx8ft up and over "wooden" garage door ready for painting.

Mabel
re Vitamins - Vitamin D essential for a healthy immune system
- your skin makes oodles of it when exposed to the sun
(hence why - we tend to get bugs and flu's in feb - ie just when your body's summer made stores of vit D run down).

Big profits for the pharma/mafia
1 - keep out the sun, you could get skin cancer - you don't make vit D, you get ill - big bucks profits.

2 - lather up in those ..big bucks profit... multi chemical sunscreens - your skin absorbs all those chemicals - compromises your health/immune system - you get ill....so even more big bucks profits.

Did an experiment way back in school days in chemistry - dipped just a finger
- in a solution (Probably DMSO) - with aniseed in it
- you could taste the aniseed within ....2 seconds
(used to demonstrate just how absorbent your skin is)

As to sunscreens
- a retired chemist once told me - if you don't know what it is, can't pronounce it or.......if you wouldn't eat or drink it.
..."for goodness sake don't put it on your skin !!"

The other essential for the immune system is Vitamin C

- nearly all other mammals make it themselves
(I think it's just humans and something like guniea pigs/hamsters who are ...an enzyme short.. in being able to make it ithemselves).

When other mamals get ill their body's production of Vit C - goes thro' the roof
- but as we can't make it - we have to injest it
(again from memory most plant/vegetables even meat/dairy eggs contain elements of it, not just citrous fruits.
...so the fast food eaters....oops again on that one too)

It's from memory but I think Big Pharma manufactures most Vit C supplements - from corn
(& 80% plus U.S corn is.....yes...you guessed....genetically modified)

As of today GFO rates on gold are now negative out to 6m

In a nutshell this means :-

The GOFO is the interest rate that you would pay
- to borrow dollars
- and use gold as collateral for the loan.

Obviously with collateral like gold, the interest rate you pay to borrow dollars would be lower than if you were borrowing the dollars unsecured.
- If the GOFO is negative, it means
- that someone is willing.... to lend you dollars
- AND pay you .....interest
- in exchange for use of ....your gold as collateral.
It's really someone borrowing your gold with interest .....and putting up dollars as collateral.

The only reason this would occur
- is if someone desperately needs to get their hands on gold
- but thinks they'll be able to return it within the time frame of the loan - out now to six months in this case. A negative rate out to 6 months tells us t
- hat there's a big delivery shortage
- and bullion banks are willing to pay an interest rate..... to borrow gold.... and put up dollars as collateral.
- It also tells us that gold today is worth more than gold re-delivered out to 6 months.

In addition
- Comex Gold futures contracts are in - backwardation too
- in a nutshell - it costs more to buy gold delivered ....now
- than it does to buy in 3/6 months time
- normally the reverse is true (ie why would you sell your gold - at less than you could sell it for today - and then wait 3/6 months for your money)

This suggests people need to/or are willing to pay a premium to ge hold of physical ....now
- rather than waiting to (hopefully) get it cheaper later, by waiting.

Taking the above two pointers together - perhaps a desperate scramble to get hold of physical metal.

A couple of weeks ago - the Vietnamese Gov actioned off some "physical" gold - it obtained....
- nearly $300 per oz over....the prevailing comex spot price at the time.

let's consider this month's Bank Participation Report. This aggregated report gives us a once-a-month look at the gross positions of those traders classified as banks, both U.S. and non-U.S. Now ...
- check this out...let's start with the report from.... last October
(so that you can see from this perspective just how steep the changes have been in the nine months since).

GROSS LONG / GROSS SHORT

U.S. Banks 40,625 / 146,809

Non U.S. Banks 34,881 / 113,445

TOTAL 75,506 / 248,254

And now here are the numbers from last month (June).
Note that the banks had moved from ......net short position of 172,748
- to a small net long position of 4,582.

GROSS LONG / GROSS SHORT

U.S. Banks 56,751 / 27,129

Non U.S. Banks 24,035 / 49,075

TOTAL 80,786 / 76,204

Well, we've all been waiting with baited breath for the July report.
- Would the banks continue to cover on these falling prices
- or were they adding to the downside momentum?
We got our answer:

GROSS LONG / GROSS SHORT

U.S. Banks 69,565 / 24,939

Non U.S. Banks 34,904 / 58,565

TOTAL 104,560 / 83,859

The total .....net long position
- grew by over 16,000 contracts to an astounding 20,701.

Join the dots - the paper price crash - has allowed a massive net short position - to be covered.....and a net long position being established.....and growing :o)

Worth reading this hedge fund manager's comments re - the gold that his funds refiner - claims they have been smelting ( & importantly the origin stamps on it - before.....they re-smelted it)

Hong Kong hedge fund manager William Kaye
- re the missing Fed .....and German gold,
- where it has gone, and how much gold the People’s Bank Of China (PBOC) really owns.
Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, and also ran money for George Soros,

My sources tell me that contrary to the public numbers that are available,
- China has anywhere between 4,000 to possibly 8,000 tons of (physical) gold

Gold has been leased out, and we do know this (takes place) because
- it’s been admitted to by the major central banks. The Fed has admitted it, the European Central Bank has admitted it, the Bank of England has admitted it. They’ve all admitted that they engage in wholesale leasing of gold to the market.

In practice how that (leasing) works is the Fed would contact their agent, typically JP Morgan, sometimes Goldman Sachs, and they would say, ‘OK, the gold price needs to be capped, so here is 20, 30, 40, 50 tons (of gold) that we’re going to lease out to you as our agent. But in theory
- we can call it back.’

That’s a great theory, but in reality it’s nonsense because
- once JP Morgan and Goldman Sachs get the gold they sell it into the market.
- So these bullion banks then become net-short gold.
(And the Fed says, ‘Well, we still have a contract where in theory we can claim the gold. So we’re going to report that we still own it in the official documents.’)

But in reality the gold has been sold into the market.
- That gold winds up in places like Beijing.
- But before it gets to Beijing it frequently goes through Hong Kong.
- And when it goes to Hong Kong,
------it goes to our refiner, -----------the same people we use.

And by the way,
- we may own some of the gold .......that Germany thinks that they own.
- But Germany will never see that gold
- because it’s safely stored in my account (and) for our investors...... at the Hong Kong International Airport.

Regarding that gold, which could have had...... the symbol of the Bundesbank on it when it arrived in Hong Kong,
- a leading refiner,
- one of the biggest in the world that deals with the People’s Bank of China (PBOC), certified that.......
- , ‘Yes, we’ve got gold available that we can deliver.
- We’ve melted it down, we’ve tested it.
- It may have had...... the Bundesbank symbol.... on it - when it arrived,
- but now .........it’s melted down .9999 (fine) gold.’

That’s how it works in practice.
- So the Fed gold, that Americans think is theirs, is gone.
- The gold that the Germans have been told they will get back in 7 years,...... they’ll never get back because .........it doesn’t exist anymore (at the Fed).

I own it.
- The People’s Bank of China owns it.
- The Reserve Bank of India owns it.
- The central bank of Russia owns it.

But the people of Germany (and America)...... don’t own it.”

Well it's 2am
- and I think that the above (barring an unforeseen black swan event) paints a favourable outlook for metals prices.
- and incidentally if the Morgue fully settled it's outstanding comex deliveries for May ?? and June
- from it's dealer invent/ory
- it would be nearly 100,000 oz....short (ie negative)

Goodnight.

This thread is LIT. Well done Gaz.

On vit D - I do not use suncreens. Dry off in sun after swimming & getting a lovely tan without burning. Also greater degree of insights/dreams.

Vit C - a lemon a day.

No supplements.

Swimming best exercise - although building muscle which weighs heavier than fat :-(

Squirrell - it seems you are either already either wise, well informed, well read or just intuitive on the health fron (or maybe just ..all 4 :o)

Interesting chart - highlighting the tops and bottoms -vs- "net" commercial overall positions
- this ends at the latest COT report
(The info I posted yesterday highlights the massive swing towards a net long, and the other article suggests since the last COT report...that swing will now have gone...net long)




“The COT data for week ending 7/2 show a 35% reduction in Net Commercial Position to ‐22,776 contracts ... the least Net Short reading since Jan 8, 2002
(when gold was $279/oz).

Based on the trend history & with a Net Long reading not far off (if not already achieved since cut off)
- a significant upside reversal for gold iwould seem ......clearly in the works.

Before the "public show" of FEDy dissunity
- taper now
- end puchases june
- end purchases Sept 2013/or 2014

Members show their "real unity" behind the scenes :o)

Hi Gaz,

Good to have you back buddy. Glad to hear you've had a good time on the 'other side'.
As of tomorrow I will be off the planet for 4 days as I'm on a little island in Holland spending QT with my family. There is no internet full stop and as my phone is still one from the 80's.... (it has buttons), no capability .........bliss.
The weather is to be great so timing couldn't have been better.

DE really is indeed a great cleanser.

I'll let them know next door you're back as they were asking after you.

Snurkle
- have a really great time and enjoy time both with family - and being off planet.
It's quite rejuvenating, and lets you clear your mind of all trivial distractions, and contemplate the big picture of who & what is really important in life.

Regarding phones, I have gone to contract SIM only - as they couldn't offer me a phone with buttons at my contract renewal, then went a step further and went back to my phone before last (it was an early model with internet access capability, but never use it)

When I was away, there was a young girl (around 15) - spent about 3 days virtually sat in the car with her phone plugged in charge (presumably living on facebook). When she ventured out to the shower block, she hardly looked up from her phone, and when her parents drove off, she was nose glued to her phone.
(quite sad to be oblivious of the world and those around her)

I await the day, when someone says I have a bluetooth inserted in my rear end with a sensor, which has a live feed to my facebook.
- When I fart, it feeds an odour-ometer app on my phone that rates the smell and puts it straight up on my facebook page, and updates my chart position amongst my friends.

Have a fantastic time away...from it all.

I think everything above points to the bottom being in (or thereabouts), however TPTB can always take it where they wish - if they still want to drain GLD further, stock up with physical on the cheap, and book some more paper profits.

I would imagine the Morgue are delivering their outstanding contracts via baskets bought and delivered from GLD physical
(as mentioned above they are significantly short of dealer inventory metal - to meet their outstanding May (overdue) and June deliveries.

Ever since the take-down of the price of silver in April, silver warehouse stocks
- have been declining in a large way at the Shanghai Futures Exchange.
- At the peak on April 12th, the Shanghai Futures Exchange held 1,124 tonnes of silver at its warehouses.
- However, just six weeks later, ........360 tonnes or 32% were removed.
- In less than 3 months, a total of... 511 tonnes (45%) of silver... have been removed from the Shanghai Futures exchange.

This is almost half... of all the silver stored at the exchange. [