Open interest remains high in gold and silver/Russia increases official gold reserves to 790 tonnes/brent sea price advances over 9.0 dollars over WTI

Open interest remains high in gold and silver/Russia increases official gold reserves to 790 tonnes/brent sea price advances over 9.0 dollars over WTI

 

Scotia-Mocatta Sells Out Of 1 Kilo Silver Bars

Submitted by Tyler Durden on 01/24/2011 18:58 -0500

It seems that not a day passes by without some major dealer running out of a precious metal in inventory. Last Thursday when we presented the most recent inventory at Scotia Mocatta (alongside the ongoing firesale at the US Mint where incidentally total silver sales in January are now at a fresh all time record 4,724,000 ounces), one of the ten market-making members of the London Bullion Market Association and one of only 5 banks to participate in the London gold fixing, we indicated that of all silver bar related products, the bank only had the 1kg Valcambi silver bar, that was listed 3 weeks ago, in stock. As of today, this object is no longer in inventory even at the unit price of CAD$980.11. Reader S. presents the two logical alternative for what is happening: "This can only conclude two things: 1. They purchased a limited amount (due to low supplies) and was sold off quickly. 2. They purchased a large amount and was sold off due to major purchases." Alternatively, the bank now has the 100 oz silver bar back in stock. We will keep tabs on how long before this also becomes "sold out." Our question is whether the ongoing shortage at most dealers, despite the so-called drubbing in PM prices, is nothing but definitive evidence that just like in stocks, precious metal investors are merely using every drop in prices as nothing more than a chance to "buy the fucking (fisical) dip"?

 

 

NBC: U.S. can't link Army private to Assange http://on.msnbc.com/dTP3EW

 

Russia Imposes Inflation-Driven Price Controls: Will Use Price Caps On "Socially Important" Commodities

 

Insurance Companies Sue Bank Of America Over "Massive Mortgage Fraud", Find 91% Of Securitized Loans Are Misrepresented

 

Goldman Goes Gaga Over Cyclical Commodities, Says Gold Run Is Ending As QE2 Comes To A Close (Full Commodity Update)

 

Yesterday I posted this...

MrSilvergoldsilver ALERT: I am a buyer of more physical at $25.50-26.50. Next week should give you this opportunity to buy at these levels. This range might be the bottom of 2011-lets see what happens! Either way, my wallet is open and whats left in it will be trading my worthless paper in for solid maples. NOTE: I am not buying US Eagles anymore, I do not trust that they are pure silver. And ANY tubes I get I always pick a random coin and rigorously test it to make sure its not plated, fake, etc.

The Most Predictable Financial Calamity in History

Posted: Jan 24 2011     By: Greg Hunter      Post Edited: January 24, 2011 at 5:42 pm
Filed under: USAWatchdog.com

By Greg Hunter’s USAWatchdog.com

Dear CIGAs
In November 2010, the Federal Reserve announced a second round of economic stimulus commonly referred to as Quantitative Easing (QE2).  The reason, according to the Fed, was “progress toward its objectives has been disappointingly slow.”   So, to try and turn the economy around, the Fed said, “. . . the Committee intends to purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter (June) of 2011, a pace of about $75 billion per month.”(Click here to read the complete announcement from the Fed.) QE means the Fed basically creates money out of thin air to buy debt.  The current money printing orgy is financing more than half of U.S. government right now.  The first round of QE bought toxic mortgage debt and bailed out the bankers.
What was not said in the press release was much more important and may go down as one of the biggest turning points in the history of America.  Bringing on QE2 meant QE1 ($1.75 trillion) failed to provide a sustained recovery.  It also exposed the $12.3 trillion total spent or loaned by the Fed since the meltdown of 2008 failed to give the economy a lasting boost.  The Fed did save some businesses and all the big Wall Street Banks from bankruptcy, but we now know nothing has really been fixed.
This brings me to one really important question.   I put this question to a group of well-known market experts, economists, investment bankers and big thinkers.  The five guys you are about to hear from have at least one major thing in common.  They all predicted tough times for America when most didn’t see it coming.  So, I asked them all last week to peer into the not-so-distant future for their take on “What happens when QE2 ends?”
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