Latest from Harvey Organ
And this just in...Pay Attention Class...and check back often...
Okay so lets dive into it. The Silver front month delivery saw its OI (open Interest) today, and it came in at 152. 152! February is NOT a delivery month! I will have more on this tomorrow as the options data comes in and I can patch things a little more clearer. This means we are somewhere around 1.3 million ounces to deliver for February and should continue to rise!
I need to point out that premiums in Asia are starting to increase in the physical markets. This is a clear indication of what is to come in the delivery month of March for Silver. This is exciting news. Get excited. Seriously, even if you dont have a fu$%ing clue what I'm talking about, get excited. Just be aware, that the 'price' in fiat may still be manipulated by the Blythe's out there, but they cannot manipulate the physical supply and demand for those shiny little maples, and crisp little eagles. Hence, from the numbers, they cant shake the tree, and the lower the prices go, the more people line up to buy. Houston, they have a problem.
Oh and China's central banker urged an increase in PHYSICAL gold and silver holdings today. Oh, and Egypt is burning.
I should have more info tomorrow night as it filters through. Overall a good day. Let them bash the price down some more, who cares, when the world figures out there is no supply, or very little, price discovery will be, you know it, EPIC.
END
Jim Sinclair’s Commentary
What was dismissed today as not really much of a problem by the media, Egypt,
is a problem of a most serious nature.
Dispatch: Regime Change in Egypt and a Radicalizing Region January 31, 2011 | 2059 GMT
Analyst Kamran Bokhari explores the potential behavior of a post-Mubarak Egypt and the fears that a radical Cairo could align with Iran and Islamist movements in the region.
The instability in Egypt comes at a time when the region is already in the throws of shifts. But contrary to popular fears, the region is not necessarily headed toward an Iranian led radicalization. Instead a new and still emerging complex situation is something that the United States and the region and the rest of the world will have to deal with.
Egypt is in a situation of flux, and it is really too early to say what will be the outcome of all the unrest and instability. There are all sorts of options. One option, one likelihood, is that the current regime rejiggers itself, reinvents itself, sends Mubarak a continuation of the old order. Another option is that there are elections and some form of coalition government emerges, and that’s where it gets tricky because the Muslim brotherhood, the country’s largest and oldest Islamist movement, is the single largest organized political force. In any such scenario the brotherhood is expected to play a large part and that raises a whole lot of fears in the region around the world of what will be the outlook, the policy outlook of Cairo in that situation.
So it’s not really clear as to where we are going right now but the big question is what happens to the region. We have an assertive Iran given the rise of a Shiite government in Iraq. Turkey is rising. There are all sorts of concerns about whether Turkey is headed toward alignment with the Islamic world as opposed to the West. And in the midst of all of this when you have Egypt also flaring up, it’s only natural for people to say what is happening here, are we looking at a scenario of Islamic radicalization of the region.
The reality is that there are too many complexities for that to happen. A: Iranian rise is still very much in play. It is not consolidated; it’s not necessarily going to happen. There the entire US-Iranian struggle that’s taking place. And number two: Turkey is a rising power and Turkey checks the power of Iran. And if you throw Egypt into that mix, it is not necessarily that Egypt will align with Iran or Egypt will lead a new radical wave. There is the huge difference between a Shiite Iran and Sunni Egypt and all of this assumes that Egypt will at some point become a radical regime, a radical state. And by that we mean that a state is at least not aligned with U.S. foreign policy in the region, and not necessarily at peace with Israel.
More…
Jim Sinclair’s Commentary
Houston, we really do have a problem.
Clinton convenes mass meeting of US ambassadors
WASHINGTON (AP) — Secretary of State Hillary Rodham Clinton is convening an unprecedented mass meeting of U.S. ambassadors.
The top envoys from nearly all of America’s 260 embassies, consulates and other posts in more than 180 countries will be gathering at the State Department beginning on Monday. Officials say it’s the first such global conference.
The gathering comes at a time of crisis in Egypt that could reshape dynamics in the Middle East, fallout from leaked diplomatic documents and congressional calls for sweeping cuts in foreign aid.
Although the meeting has been called to discuss U.S. foreign policy priorities for 2011, officials say Clinton plans to meet personally with ambassadors from front-line states to hear about developments on the ground. Officials also expect that specific concerns about the WikiLeaks revelations will be raised.
More…
Jim Sinclair’s Commentary
Houston, the world has another problem.
Albania braces for fresh protests January 29, 2011 12:00AM
THE mood of revolt has spread beyond the Arab world to the Balkans.
The Albanian opposition gearing up for another anti-government protest today and the police warning of a high risk of violence.
The opposition Socialist Party said the rally was aimed at honouring the three victims of violent clashes in last week’s anti-government demonstration. Protesters have been calling on the government to resign, claiming corruption and electoral fraud.
"I want to assure you it will be peaceful and quiet, there will be flowers and candles," Socialist leader Edi Rama said yesterday.
"Everything will be normal, not provoking anyone and not being provoked by anyone."
Police said the demonstration was a danger to national security, and warned that they could not guarantee the rally’s safety.
Mr Rama, who is Tirana’s Mayor, said he regretted the police statement.
More…
Jim Sinclair’s Commentary
Houston, we have a third problem!
After Riots, Algeria Considers a Reshuffle By BENOîT FAUCON
* JANUARY 28, 2011
Algeria’s President Abdelaziz Bouteflika is considering high-level cabinet changes in hope of showing a reformist bent after the country was shaken by riots, people familiar with the matter said.
There is no clear timing for the changes, but one scenario under consideration would include the promotion of Energy Minister Youcef Yousfi to be the new prime minister, replacing current Prime Minister Ahmed Ouyahia, they said. Such a move could be part of a broader reshuffle aimed at replacing officials with ties to political parties with technical experts whose reputations remain intact after the protests.
Mr. Yousfi, who became energy minister last year after a corruption probe shook Algeria’s oil industry, has had a long career in the hydrocarbons sector as well as in diplomacy.
Mr. Ouyahia is the secretary general of the National Rally for Democracy, a member of the ruling coalition.
A presidential spokeswoman said she had no information about any potential cabinet reshuffle. Spokesmen for the energy minister and the prime minister’s office couldn’t be reached.
More…
Jim Sinclair’s Commentary
Houston, things are getting pretty bad this weekend!
Jordanians protest government policies Fri Jan 28, 2011 2:57PM
Thousands of Jordanians have marched against the government’s political and economic policies, demanding the prime minister’s resignation.
The demonstrations, which were held following the Friday prayers in the capital Amman and other major cities, were organized by the country’s main political opposition group, the Islamist Muslim Brotherhood. It was the third consecutive Friday of protests in Jordan.
The demonstrators denounced Prime Minister Samir Rifai’s economic policies, saying reforms introduced by him, which led to cuts in subsidies for basic commodities, have caused the soaring food and fuel prices, unemployment and poverty.
"Rifai go away, prices are on fire and so are the Jordanians,” protesters chanted.
Protesters have also demanded that the prime minister be democratically elected rather than appointed by the King.
Today’s protests came while the prime minister and the country’s ruler King Abdullah II have promised to make reforms.
More…
Jim Sinclair’s Commentary
This is disgusting!
Get Ready For More Outrageous Compensation Date: 03.22.09 Posted by: Equedia Weekly Newsletter
This past week, outrage was sparked over the controversial executive compensation from AIG, which recently received billions in taxpayer dollars. President Barack Obama on Monday blasted AIG and pledged to try and prevent it from giving its executives 165 million dollars in bonuses.
Eight top executives of Nortel Networks got approval from the courts for up to $7.3-million (U.S.) in bonus payments under a retention plan – despite the layoffs of 1,100 Canadian workers last year who were denied their severances after the telecommunications giant filed for bankruptcy protection in January.
The list of outrageous compensation to executives of failing companies stretches for miles and will continue to stretch because they argue that these big bonuses are required in order to keep good people in the company.
I say that’s bull. But it won’t change. It will just get worse.
More…
Huge gold standing for delivery; problems in Egypt intensifies
And this just in...Pay Attention Class...and check back often...
Monday January 31st, Updated 10:00 pm EST
I need to point out that premiums in Asia are starting to increase in the physical markets. This is a clear indication of what is to come in the delivery month of March for Silver. This is exciting news. Get excited. Seriously, even if you dont have a fu$%ing clue what I'm talking about, get excited. Just be aware, that the 'price' in fiat may still be manipulated by the Blythe's out there, but they cannot manipulate the physical supply and demand for those shiny little maples, and crisp little eagles. Hence, from the numbers, they cant shake the tree, and the lower the prices go, the more people line up to buy. Houston, they have a problem.
Oh and China's central banker urged an increase in PHYSICAL gold and silver holdings today. Oh, and Egypt is burning.
I should have more info tomorrow night as it filters through. Overall a good day. Let them bash the price down some more, who cares, when the world figures out there is no supply, or very little, price discovery will be, you know it, EPIC.
END
Jim Sinclair’s Commentary
What was dismissed today as not really much of a problem by the media, Egypt,
is a problem of a most serious nature.
Dispatch: Regime Change in Egypt and a Radicalizing Region January 31, 2011 | 2059 GMT
Analyst Kamran Bokhari explores the potential behavior of a post-Mubarak Egypt and the fears that a radical Cairo could align with Iran and Islamist movements in the region.
The instability in Egypt comes at a time when the region is already in the throws of shifts. But contrary to popular fears, the region is not necessarily headed toward an Iranian led radicalization. Instead a new and still emerging complex situation is something that the United States and the region and the rest of the world will have to deal with.
Egypt is in a situation of flux, and it is really too early to say what will be the outcome of all the unrest and instability. There are all sorts of options. One option, one likelihood, is that the current regime rejiggers itself, reinvents itself, sends Mubarak a continuation of the old order. Another option is that there are elections and some form of coalition government emerges, and that’s where it gets tricky because the Muslim brotherhood, the country’s largest and oldest Islamist movement, is the single largest organized political force. In any such scenario the brotherhood is expected to play a large part and that raises a whole lot of fears in the region around the world of what will be the outlook, the policy outlook of Cairo in that situation.
So it’s not really clear as to where we are going right now but the big question is what happens to the region. We have an assertive Iran given the rise of a Shiite government in Iraq. Turkey is rising. There are all sorts of concerns about whether Turkey is headed toward alignment with the Islamic world as opposed to the West. And in the midst of all of this when you have Egypt also flaring up, it’s only natural for people to say what is happening here, are we looking at a scenario of Islamic radicalization of the region.
The reality is that there are too many complexities for that to happen. A: Iranian rise is still very much in play. It is not consolidated; it’s not necessarily going to happen. There the entire US-Iranian struggle that’s taking place. And number two: Turkey is a rising power and Turkey checks the power of Iran. And if you throw Egypt into that mix, it is not necessarily that Egypt will align with Iran or Egypt will lead a new radical wave. There is the huge difference between a Shiite Iran and Sunni Egypt and all of this assumes that Egypt will at some point become a radical regime, a radical state. And by that we mean that a state is at least not aligned with U.S. foreign policy in the region, and not necessarily at peace with Israel.
More…
Jim Sinclair’s Commentary
Houston, we really do have a problem.
Clinton convenes mass meeting of US ambassadors
WASHINGTON (AP) — Secretary of State Hillary Rodham Clinton is convening an unprecedented mass meeting of U.S. ambassadors.
The top envoys from nearly all of America’s 260 embassies, consulates and other posts in more than 180 countries will be gathering at the State Department beginning on Monday. Officials say it’s the first such global conference.
The gathering comes at a time of crisis in Egypt that could reshape dynamics in the Middle East, fallout from leaked diplomatic documents and congressional calls for sweeping cuts in foreign aid.
Although the meeting has been called to discuss U.S. foreign policy priorities for 2011, officials say Clinton plans to meet personally with ambassadors from front-line states to hear about developments on the ground. Officials also expect that specific concerns about the WikiLeaks revelations will be raised.
More…
Jim Sinclair’s Commentary
Houston, the world has another problem.
Albania braces for fresh protests January 29, 2011 12:00AM
THE mood of revolt has spread beyond the Arab world to the Balkans.
The Albanian opposition gearing up for another anti-government protest today and the police warning of a high risk of violence.
The opposition Socialist Party said the rally was aimed at honouring the three victims of violent clashes in last week’s anti-government demonstration. Protesters have been calling on the government to resign, claiming corruption and electoral fraud.
"I want to assure you it will be peaceful and quiet, there will be flowers and candles," Socialist leader Edi Rama said yesterday.
"Everything will be normal, not provoking anyone and not being provoked by anyone."
Police said the demonstration was a danger to national security, and warned that they could not guarantee the rally’s safety.
Mr Rama, who is Tirana’s Mayor, said he regretted the police statement.
More…
Jim Sinclair’s Commentary
Houston, we have a third problem!
After Riots, Algeria Considers a Reshuffle By BENOîT FAUCON
* JANUARY 28, 2011
Algeria’s President Abdelaziz Bouteflika is considering high-level cabinet changes in hope of showing a reformist bent after the country was shaken by riots, people familiar with the matter said.
There is no clear timing for the changes, but one scenario under consideration would include the promotion of Energy Minister Youcef Yousfi to be the new prime minister, replacing current Prime Minister Ahmed Ouyahia, they said. Such a move could be part of a broader reshuffle aimed at replacing officials with ties to political parties with technical experts whose reputations remain intact after the protests.
Mr. Yousfi, who became energy minister last year after a corruption probe shook Algeria’s oil industry, has had a long career in the hydrocarbons sector as well as in diplomacy.
Mr. Ouyahia is the secretary general of the National Rally for Democracy, a member of the ruling coalition.
A presidential spokeswoman said she had no information about any potential cabinet reshuffle. Spokesmen for the energy minister and the prime minister’s office couldn’t be reached.
More…
Jim Sinclair’s Commentary
Houston, things are getting pretty bad this weekend!
Jordanians protest government policies Fri Jan 28, 2011 2:57PM
Thousands of Jordanians have marched against the government’s political and economic policies, demanding the prime minister’s resignation.
The demonstrations, which were held following the Friday prayers in the capital Amman and other major cities, were organized by the country’s main political opposition group, the Islamist Muslim Brotherhood. It was the third consecutive Friday of protests in Jordan.
The demonstrators denounced Prime Minister Samir Rifai’s economic policies, saying reforms introduced by him, which led to cuts in subsidies for basic commodities, have caused the soaring food and fuel prices, unemployment and poverty.
"Rifai go away, prices are on fire and so are the Jordanians,” protesters chanted.
Protesters have also demanded that the prime minister be democratically elected rather than appointed by the King.
Today’s protests came while the prime minister and the country’s ruler King Abdullah II have promised to make reforms.
More…
Jim Sinclair’s Commentary
This is disgusting!
Get Ready For More Outrageous Compensation Date: 03.22.09 Posted by: Equedia Weekly Newsletter
This past week, outrage was sparked over the controversial executive compensation from AIG, which recently received billions in taxpayer dollars. President Barack Obama on Monday blasted AIG and pledged to try and prevent it from giving its executives 165 million dollars in bonuses.
Eight top executives of Nortel Networks got approval from the courts for up to $7.3-million (U.S.) in bonus payments under a retention plan – despite the layoffs of 1,100 Canadian workers last year who were denied their severances after the telecommunications giant filed for bankruptcy protection in January.
The list of outrageous compensation to executives of failing companies stretches for miles and will continue to stretch because they argue that these big bonuses are required in order to keep good people in the company.
I say that’s bull. But it won’t change. It will just get worse.
More…
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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