For First Time Total Comex Silver Drops Below 100 Million Ounces; Physical Deliverable Silver Under 28 Million Oz 

Submitted by Tyler Durden on 06/14/2011 21:30 -0400

The slow, steady, very predetermined and methodical depletion of Comex silver, which recently entered 6-sigma range for a perfectly random event, or is the preparation for a Hunt Bros squeeze, now that there is 32% less silver (27.9MM vs 41MM on April 19) than there was 2 months ago, is starting to become disturbing to anyone who can identify a flat line pointing northeast at -45 degrees. Contrary to promises from virtually everyone that the ongoing decline in registered silver is something very temporary, the perfectly diagonal chart below begs to differ with this naive and now disproven hypothesis. The culprit for today's decline to a new record low is Brink's warehouse, where there was a 9% draw down in both registered and eligible silver. In the meantime, registered silver has not posted an uptick in over 3 months. Amusingly this is happening even as the price of spot and futures silver continues to trend lower. We wonder at what point will the general public wake up to what is happening: 25MM oz? 20MM oz? 10MM oz? 0? 

 

 

 

 

 

Gold and silver have bottomed, Turk tells King World News

 

 

 

 

Moody's Puts Credit Agricole, SocGen, BNP On Downgrade Review, Refreshes Dexia, Over Greek Exposure 

Submitted by Tyler Durden on 06/14/2011 20:10 -0400

While S&P appears to have completely forgotten about the country of Belgium, Moody's has realized that should Greece default, which is now inevitable, there may be aftershocks. Today, it focuses on France, and its three main banks Credit Agricole, SocGen and BNP, all of which it has put on downgrade review with a one notch maximum downgrade potential (except for SocGen which is two). Moody's also refreshed those who care that its downgrade review of Belgium's Dexia is ongoing and could result in a two-notch downgrade. The announcement comes just as it seemed that the EURUSD was about to shake off its late afternoon swoon, and instead is now near the day's lows. 

 

 

 

 

I know...I know...the media has told you, that you shouldn't consider voting for someone they (TPTB) haven't approved of...BUT...After the economy implodes...your  going to regret not doing the research and voting for the one man... that could get us back on the right track...

Complete Ron Paul Highlights From Last Night's New Hampshire Debate 

Submitted by Tyler Durden on 06/14/2011 19:57 -0400

While last night's republican debate was at best a complete waste of 2 hours, and at worst something not even fit for the pages of Zero Hedge (and we have very low standards - Zero "low hanging fruit" Hedge is what we are often been called), there was 20 minutes worthy of popular attention, and all of them belonged to Ron Paul. The Texas anti-Fed crusader presented his rational opinion, substantiated by actual fact and, more shockingly, math, glaringly standing out from the herd. Alas, since America always and without fail elects precisely the candidate it so rightfully deserves, it pains us to conclude that Paul has zero chance at the presidency. That said, we hope to convert at least one additional human to his cause by presenting the complete highlight reel from yesterday. Yes it is commercial- and other candidate-free so the signal to noise ratio is not seppuku inducing.

The Reason Why Greece Is Pissed, Or They Don't Call It The "Misery Index" For Nothing 

Submitted by Tyler Durden on 06/14/2011 21:55 -0400

A day ahead of the general Greek strike coupled with major Parliament blockade protest, it is useful to remember just why it is that Greeks are so pissed. Well, besides the obvious increase in the retirement age from 61 of course. So below it is in chart format. While we previously presented the UK "misery index" which back in March hit a 20 year high for the first time, here is the same appropriately titled index for Greece. And if the UK is at a 2 decade "misery" high, then Greece is roughly at a 10 billion year high. It really may all be uphill from here... Unless of course the Greek population decides it is happy with the status quo. 

 

 

 

 

The False-Flag Attacks on ‘Speculators’

We are being bombarded with an unprecedented amount of propaganda from the mainstream media today, on a daily basis. Yet with so much objectionable material to choose from, I would argue that none of this propaganda is as odious or malevolent as the relentless attacks by media talking-heads against “speculators”.

According to media mythology, virtually all of our problems in markets today are being caused by speculators. Oil (and gasoline) prices are too high? Blame the speculators. Silver inventories are totally gone? Blame the speculators. Food-riots are taking place in more and more developing economies. Blame the speculators.

About the only thing that can be said unequivocally about this propaganda is that “speculators” bear 0% of the responsibility for any of these problems. If this is so, then why such a venomous propaganda-campaign against these scapegoats by the media? Simple. Because the mainstream media has been instructed to conceal the real cause of the significant stresses and imbalances which exist today in virtually every sub-sector of the commodities complex: the insane, destructive money-printing of the Federal Reserve, and its 0% interest rates.

There can be no possible argument here, as the evidence is overwhelming: the monetary policies of the Federal Reserve are destroying savers.

1) The reckless money-printing of the Federal Reserve (and European Union, and Japan) is not merely the “cause of inflation”, it is inflation. The actual, original definition of inflation is to “inflate the money supply”. As with any other form of dilution (such as the printing of shares of companies), printing-up countless trillions in new currency dilutes the value of all currency – with the consequence being higher prices.

2) Meanwhile, the U.S.’s 0% interest rates amount to nothing less than the serial-rape of all savers. They get virtually no “interest” on their banker-paper, while in the real world (i.e. the legitimate “statistics” which can be found at Shadowstats.com) inflation steals their wealth at nearly 10% per year.

Given these parameters, any/all sane investors have been given only one choice: get their wealth out of banker-paper (where it is stolen at the rate of nearly 10% per year) and into hard assets.

At one time, such a list of favored “hard assets” would have included real estate. However, the rapacious bankers and corrupt politicians have screwed-up our real estate markets so badly that only the real “speculators” are foolhardy enough to sink their cash into real estate as an “investment”.

This has essentially left commodities as the only refuge for any/all savers seeking to prevent the bankers from stealing all of their wealth with their excessive money-printing and near-zero interest rates. Obviously this makes the media’s campaign against “speculators” as malicious as it is mistaken.

In fact, if we want to find the real “speculators” we need only turn our gaze in the direction of New York. The insane, relentless speculating of the Wall Street vampires has already created $trillions in losses for their victims all over the world, while the biggest “bubble” created by these psychopathic speculators still hasn’t burst: the $1.5 quadrillion derivatives bubble – a bubble more than twenty-times larger than the entire global economy. And yet the corrupt CFTC illegally refuses to implement the restrictions on this market which are required by law. Read more: The False-Flag Attacks on ‘Speculators’  

Gold Standard Institute: Bankers aren't the problem; funny money is

 

 

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