We The Sheeplez- The Coming Economic Collapse.."A Nation Of Sheep Ruled By Wolves" Thomas Jefferson

Saturday, October 1, 2011

Gold, Silver Speculative Longs Plunge To March 2009 Levels

While the drop in speculative interest in various currencies made news last week, it is the turn of precious metals to be the key focus in this week's summary of the CFTC's Commitment of Traders report. As the chart below demonstrates, as of Thursday September 27, both gold and silver saw a massive plunge in the net long non-commercial interest (the cleanest proxy of how speculators are positioned in gold and silver). This is not surprising, following last Friday's CME hike in gold and silver margins, and this week's follow through action by the Shanghai Gold Exchange. The drop of 22,278 and 7,113 contracts, in gold and silver, to 127,801 and 15,425 contracts, respectively, brings the net total exposure to the lowest it has been since the fear of deflation was the only thing on everyone's mind in March of 2009. What is perplexing is that the net spec interest in silver is about half where it was on December 31, 2010 even with silver unchanged on the year, while only 56% of the long spec gold contracts from the beginning of the year remain even as gold is still up 15% YTD!

I hope you take advantage of this and BTFD...

Goldman's European Clients Are Oblivious About Developments In Europe

In David Kostin's latest weekly chart book, in addition to the plethora of useful charts (if materially incorrect when it comes to fund flow data - never before have we seen such as disconnect between Lipper/AMG and ICI flow data, allowing one to pick and chose which data set to use depending on their point), and market statistics, the Goldman head strategist observes a rather curious psychological schism, notably as pertains to investor sentiment regarding the financial powderkeg known as Europe. Namely that while US investors just need to read a Euro-negative headline to sell everything, in Europe Goldman's clients are largely oblivious of any and all adverse developments. To wit: "Our meetings with clients in Europe and the US during the past two weeks showed investors in continental Europe to be more composed about the direction and pace of policy decisions. US and UK investors are far more anxious about potential policy solutions and the cumulative impact of a drawn out resolution." We wish we could recreate the European nonchalance, in no small part predicated by the general mindset of a socialist backstop to another global collapse, which in case of failure, will simply mean the activation of US-based FX swap lines, and thus America would have to bail out Europe once again like it did back in 2008. In retrospect we can see why nobody in Europe is too worried. Also, perhaps Goldman should do a better job at distributing the report by its own Alan Brazil saying Europe is doomed...

Blast From The Past - Cramer On Kodak "EK Has Gone From A Classic Business To A Revolutionary One"

Because we can always do with a Saturday afternoon laugh at Cramer's expense...

J. Dimon Addresses

silvergoldsilver at silvergoldsilver - 2 hours ago

Anyone feel like sending Jimbo some flowers please do start with these lofty penthouses please: 270 Park Avenue, New York, NY, US 1185 Park Ave, Apt 11l, New York, NY, US 398 Greenwich St, New York, NY, US 211 E 70th St, Apt 10h, New York, NY, US 388 Greenwich St, New York, NY, US 1185 Park Ave, Unit 17l, New York, NY, US

Sol Sanders | Follow the money No. 86 -- Perfidious Americus

Trader Dan on King World News Weekly Metals Wrap

Trader Dan at Trader Dan's Market Views - 1 hour ago

please click here to tune in to my regular weekly radio interview with Eric King on the KWN Weekly Metals Wrap. We will be discussing the technical posture of both gold and silver as well as some significant developments in the Commitment of Traders Report. *http://tinyurl.com/3bsokd4*

Real Estate Markets In China Can Drop Massively

Admin at Marc Faber Blog - 2 hours ago

"Some real estate markets in China will blow up & massively so prices could easily drop 40%, 50%" - *in Reuters* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.*

Greek Default, Eurozone/Bank Crisis and the Effect on the Gold, Silver prices

The Real Cost of the Bailout [So Far]

On the Brink: World-Changing Events in All Markets

Gerald Celente: Engineered fall in gold and silver; Trying to scare people out of precious metals; Started buying silver - GoldSeek.com Radio Nugget

Gaining from the Golden Road Ahead

States to Financially Break Away from Federal Government