Gold closes at a new all-time record high - now within striking distance of $2000

[antonius123]

I pity the fool who bets against gold!

It is just a price correction, due to profit taking as the price already increase sharply recently.

Usually profit taking will follow after the consecutive price increase.

 

[zectech]

@Feng Leng

COMEX’s Gold and Silver Futures Market Trade Data Not Adding Up
We have been following both the gold and silver futures markets since June with great interest. We could see in the data a buildup of demand for physical metal against short futures positions. And indeed, the summer has seen quite a bit of physical metals “delivered” between players on the COMEX futures market.




Robert Kientz
15 hours ago (Sep 07, 2020 7:54 AM GMT)

So far in 2020, the exchange has seen 132,999 contracts of 100 oz gold delivered, valued at $25.7 billion. Silver deliveries in 2020 have been even more extraordinary, with 43,798 contracts of 5000 oz silver delivered, valued at $5.8 billion.

These are large numbers for the precious metals market which does not routinely see so much physical settlement in a year. The vast majority of contracts are rolled into the next available delivery months, or settled for cash.

This basically means players on the market are looking to take the metal off the hands of traders and put it into safe storage. And while the numbers of physical deliveries have been staggering this year, gold being taken off market has been a trend dating back to the tech crisis in 2000. The following chart, for instance, shows that majority of gold stored in COMEX allocated to the “eligible” category, which is vault storage and NOT used in futures market trading. See chart below from goldchartsrus.com.

So the fact that deliveries have ramped up on the metals is not surprising, and it could be that we are in a short squeeze in the market for the metals. While the COMEX claims there is enough gold in registered to satisfy current deliveries, we have started to see some anomalies in the data which potentially paint a different picture.
Shadow Contracts
On August 28th, the last day of the month to roll over an existing September contract to the next active contract month in December, we see CME group reporting open interest of 3070 contracts. See screenshot from the CME website below.

What is interesting is that you are not supposed to be able to deliver more contracts of gold ounces in a month for which you have open interest, because you can only deliver against open contracts. Typically, we see many contracts rolled until the last day and then the rest are settled. But so far for September, the CME group is reporting 3457 contracts posted for delivery, or 387 more than the 3070 that should have been available to be posted. And we are only 6 days into the month of September, at time of this writing.

What gives on the COMEX? We are not sure, but it sure looks suspiciously like we have a “shadow” contract being presented on COMEX for delivery. That, or all of the CME group accountants need to be fired for failing to do basic math correctly.
The errors could be forgiven if they miscalculated the amount of paper futures contracts rolling from one month to the next. Well not really, but at least it would have much less effect on the overall price of gold. Why is this? Because as we have shown numerous times this year on our site, when physical deliveries pick up, the prices of gold and silver always follow.
And this is to be expected, because while the COMEX allows as many paper derivative contracts to be placed as bets on the market price, we only have a finite amount of the real metals available on the market at any given time. Those cannot be printed up at the push of a button on a computer like the paper contracts can be. This has two effects on the market.
First, when the physical deliveries are miscounted, the paper contract derivative trades overstate short term speculative interest in the metals versus those willing to take ownership. Secondly, and probably more importantly, it overstates the amount of physical metals available for delivery on the futures market for those that want to take delivery. It basically amounts to fraud, much as if your bank claimed to have enough cash for your deposit, and then notified you when you showed up to the bank that you would have to wait 2-3 months to get your cash.
Advertisement
Contract Volume Discrepancies
Since we have been watching the COMEX so intently this year, we have noticed some other discrepancies in the reported contract volume on COMEX. The next series of screenshots shows various daily reports in which the CME group reported more physical deliveries that day than the amount of closed contracts.
That again appears to indicate physical gold and silver are being exchanged without closure of a corresponding contract. Does this mean gold and silver are being raided off the COMEX market without a corresponding futures contract settlement? You can decide this for yourself, since CME group has never provided the transactional data needed to “true up”, from an audit perspective, their aggregate trading volumes.
Gold

Silver

Concluding Thoughts
Looking at the shadow contracts and discrepancies in daily contract numbers makes on question all of the gold and silver market data reported by the CME group for the COMEX market. Who knows how long the mistakes in accounting have been allowed to exist. Just because the CME reports a number, I know of no audit of the transactional data published to guarantee its authenticity.
If the market is misreporting the amount of open contracts and the deliveries of physical gold and silver, then how can market participants rely on this data to make trading decisions on the futures market?
Further, how do we all now value the gold and silver prices used in our daily physical transactions? The answer is we don’t, and this will lead to a new era in how the public views the gold and silver market. While these shadow transactions exist in particular, I expect the market to heavily question COMEX’s reported physical inventories. Just like a fear of cash shortages would cause a run on the banking system, fears of physical precious metals could cause a run on whatever is left in the COMEX warehouses.
Then we would see a rapid change in the prices of gold and silver, which would have to be determined off-exchange. These would seemingly come from physical market exchanges by large parties, from banks to wealthy individuals. It may be much harder to pry gold and silver from their current owners if they are unsure current prices are high enough to properly value them.
And then what happens to the miners? If they do not have a legitimate pricing mechanism via the COMEX, how do they forecast metals prices for their mine business models? We may see a flurry of independent contract negotiations from merchants using the metal directly to the miners producing it, circumventing the whole futures exchange model.
We will see how long the issues persist in the CME futures data reporting. But it is becoming clear that the system that the world uses to value precious metals may about to undergo rapid changes when the world finds out how unstable that system currently is.

COMEX’s Gold and Silver Futures Market Trade Data Not Adding Up

We have been following both the gold and silver futures markets since June with great interest. We could see in the data a buildup of demand for physical metal against short futures positions. And indeed, the summer has seen quite a bit of physical metals “delivered” between players on the

www.fxempire.com

 

[Liaslia]

Gold is the real investment for next 50 years. Silver going to $50/ounce

 

[KAL-EL]

Gold is the real investment for next 50 years. Silver going to $50/ounce

Don’t forget about dilithium. That will be a good future investment too.

 

[Beast]

Plantinum too.

 

[zectech]

Suppressing the price of gold and silver is a priority to Washington because gold and silver and platinum prices rising means there is lack of trust in the reserve currency.

Silver and gold are among the most manipulated markets out there.

I still would not bet on gold, manipulation invents losers in the market, those losers won't want to invest in gold again. They punish gold investors to scare away investors. You need large players to break this scam.

Manipulation has been happening for years:

The CiA wants you to not buy gold or silver, and instead buy CiA bitcoins. Bitcoins = Their black-op money to make the CiA trillions of dollars.

That said, if China does not hold gold and silver, Washington and the banks could move to a gold currency and China lacking the gold reserves would have their currency severely popped in world trade. Gold is money and insurance for the rich. You get rich off of factories and commerce. You store your wealth in gold and silver. Gold and silver are for the super wealthy.

 

[zectech]

or being shorted in some ETF or other holding.

Everyone and their mama betting against silver!

Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.

www.kitco.com

Suppressing the price of gold and silver is a priority to Washington because gold and silver and platinum prices rising means there is lack of trust in the reserve currency.

Silver and gold are among the most manipulated markets out there.

I still would not bet on gold, manipulation invents losers in the market, those losers won't want to invest in gold again. They punish gold investors to scare away investors. You need large players to break this scam.

Manipulation has been happening for years:

The CiA wants you to not buy gold or silver, and instead buy CiA bitcoins. Bitcoins = Their black-op money to make the CiA trillions of dollars.

That said, if China does not hold gold and silver, Washington and the banks could move to a gold currency and China lacking the gold reserves would have their currency severely popped in world trade. Gold is money and insurance for the rich. You get rich off of factories and commerce. You store your wealth in gold and silver. Gold and silver are for the super wealthy.

Bitcoin Will Replace Gold as Go-to Safe Haven, Says $10 Billion Advisory Group CEO

The founder and CEO of $10 billion advisory firm Devere Group, Nigel Green, has revealed he believes bitcoin will replace gold as the go-to safe haven asset within a generation.

www.cryptoglobe.com

That was the purpose of bitcoin when it was invented in a CiA basement somewhere. They want the option one to be the dollar, option two if dollar weakness, to have you buy CiA bitcoins, invented by the Central Intelligence (Agency). Satoshi Nakamoto means Central Intelligence in Japanese. Satoshi is supposed to be some Japanese dude. bitcoin language indicates it was invented in East Coast USA. Though I am sure the CiA has some poster dude as a fake founder of CiA bitcoins.

Bitcoins are supposed to go to 1 million or 10 million USD per each CiA coin to prop down the worthless dollar. It is down to you to buy them to risk your money to support this ponzi scheme. Two Washington pet projects Federal Reserve Note and CiA bitcoins.

 

[zectech]

I called it, gold down over $100 in a day, and silver is down $3.

NOBODY is buying physical gold and silver. The entire speculative market has been paper trades. When investors thought they were buying physical gold on ETFs, ETFs can be shorted, so even the physical investments are paper - you don't own (able to be shorted). If the gold you own is physical and can be shorted, you don't own it, and there was no point investing in the ETF in the first place.

This is exactly what they did in 2012-3. Bankers buy up the precious metals in the bull market - turn the bull market into speculation, then dump the investment, doing massive selling and short selling to scare away investors from any moral investing. Precious metal investments are moral, they are not Boeing Military Industrial Complex, they are are not CiA bitcoins for funding black ops, they are not health care pill pushers that give people dementia and diabetes, they are not google to spy on everybody for the NSA. Gold and silver are moral investments for the preservation of wealth.

Nobody is going to want to invest in physical gold now. Central Bankers defeat the losers who were buying paper gold.

The entire Western market system is manipulation.

https://twitter.com/x/status/1321690906253283328

When you see the COMEX run out of gold, then you have a bull market. When there is a run on endless paper gold, you are in a slump. Think of paper gold as bits of computer memory. Would you invest in it when there is a demand for 500 bits of computer memory, when a factory can make hundreds of thousands of TBs of memory.

To get silver and gold to high levels, you need state players like China to buy up gold and silver. And these prices are too high for massive stacking for state players.

 

[zectech]

I have said that commodities and base metals are severely undervalued. Here is the article supporting that point:

Here's where to invest your money before traders start 'rotating, if not stampeding' out of stocks, according to one Warren Buffett disciple

Earlier this year, Berkshire Hathaway threw its heavyweight name behind Barrick Gold with an investment that flew in the face of Warren Buffett's longtime...

www.marketwatch.com

And this undervalue could continue, so China should keep buying up raw materials at these incredibly cheap prices and keep stacking gold and silver at these cheap prices now that hyperinflation hit the stockmarket. cia bitcoins are allowed to keep gaining against the dollar, yet the manipulation of metals and commodities through paper contracts continues. So take advantage of these low prices and increase steel production and other metals.

US hyper inflated dollars to keep prices low, when you comprehend the paper markets where you don't buy physical gold, only a paper contract, and how if you buy physical gold in an exchange, 10 others also own the same bar of gold, and short selling, etc. None of this exists with bitcoins, so gold and silver stay flat, at very cheap prices and stay flat for decade after decade when compared to inflation and DOW Jones, etc. China in not buying up gold and silver for the past 10 years and not buying gold and silver in 2020 is gonna hurt China with the competition of cia bitcoins. This hyper-rise of bitcoin happening should have been going on with gold and silver, had China bought up the supply of silver and gold. Nobody would be talking about cia bitcoins, they would be jumping on China's godl bandwagon. Not the cia's bitcoin bandwagon. China not buying up gold through very large purchases when silver was at $15 and gold at $1500 years ago is why China now has a bitcoin problem. If prices were allowed to organically rise with increase in demand from China, China could have broken the commercial banks shorts and other manipulations in the market that keep prices low. Gold would have shot to $10000 and silver to $500 or more. Everybody would be talking about gold and silver. Not talking about bitcoin, which is the planned impoverishment of China. Bitcoin would be a nothing, if gold was $50000 per ounce. That is where the smart money would go and China would be rich with their gold and silver holdings. China would have broken the shorts and been on top of the world with no rivals.

So @vi-va Gold and silver are not archaic old relics of the past. They are what defend a currency from ponzi schemes like bitcoin. If China did what I wanted in 2019 and before and bought up gold and silver and broke the Western system that keeps gold and silver prices low. The focus would be on everybody buying gold not cia bitcoins. Now if China does this, you would have competition with bitcoin. Investors who would have followed China and made Chinese rich for buying up gold and be the followers wanting to buy gold and silver, won't do that now with bitcoin going to 1 billion yuan. So China not buying up gold and silver to break the short selling, allowed bitcoin to be viewed as the only viable alternative to the dollar.

Libertarians, who were die-hard gold is money, and money is gold, now say gold is not money or a good investment, bitcoin is. This was China's policy for years doing what Washington wants to play their game.

And I was right again, that gold would go down from their October levels due to lower demand. Even with a multi-trillion dollar stimulus, gold barely budges. That is manipulation. And perhaps now is a good time for gold to rise, however, bitcoin would steal the show as it would be a bitcoin vs gold debate. China would have to really strategize for that. The late November dip was a buying opportunity for state players.

Economists in China need to strategize a plan on how to deal with bitcoins, since they are the dollar 2.0:

Bitcoin ‘created as dollar 2.0 by US Government to fund secret CIA and MI5 missions'

Bitcoin ‘created as dollar 2.0 by US to fund secret CIA missions'

BITCOIN was created by US intelligence services to send untraceable funding to top-secret international CIA and MI5 missions, according to a shock new claim.

www.express.co.uk

Russians have been aware of this for many years.

Russian Lawmaker: Bitcoin is a CIA Conspiracy

A lawmaker from the Liberal Democratic Party of Russia is speaking out against bitcoin on the grounds it is part of a US conspiracy.

www.coindesk.com

EXPOSED: The real creator of Bitcoin is likely the NSA as One World Currency - Global Intel Hub

(GLOBALINTELHUB.COM) 6/12/17 — Bitcoin has surged to all time highs, urging us to compose this article on a hot trending topic that we’ve wanted to compose for a long time. Our parent company, Elite E Services, is primarily a FX algorithm development company – so we get asked about Bitcoin...

globalintelhub.com

That this is a deepstate project is the only explanation why bitcoin has been allowed to replace gold and silver as anti-dollar.

Then there is the prediction the gold and silver are going to be so low in price value, that residents throw away their gold out into the streets. That why you don't go 100% or even 50% of reserves as gold, because you need the other currencies for buying opportunities. Massive buying opportunities.

You can't pit digital Yuan against bitcoin because there are only 21 million bitcoins out there, a ponzi scheme that won't collapse and has built-in scarcity is crushing every currency, including the yuan. That is the wealth transfer. Those who go in bitcoin first - US government, anti-Chins libertarians, insider capitalists from USA got rich off bitcoin, now zionists are getting into it. And average investors after that, and after that your average joe. Then replace the US dollar with bitcoin and China is poor and has nothing to trade with. This is the new trade war... China defeated the first, can China rise the the challenge and survive bitcoin too.

Bitcoin has no value, it is worthless, there is no need for bitcoin, no purpose for bitcoin other than to spy on every transaction. However it was designed by the cia to be the largest pyramid scheme in history. You are supposed to be drawn into bitcoin to pour your wealth into it because it is by design supposed to go to 1 billion yuan per bitcoin if you get more and more support and use.

The cia even does fake volume to give an impression that it is doing even better so it goes higher and higher. And the US wants it to be the one world currency, it started if the dollar collapses and US dictates the future of Bretton Woods. What are China's plans.

 

[zectech]

During the beginning of the Ming Dynasty, paper money was being hyperinflated, and the Ming gradually went to silver to save themselves. If the dollar collapses, libertarians knew that gold and silver would have to be the new US currency, to stablize confidence that the currency was backed by something. This would get worldwide demand of gold and silver to go very high, driving up everybody's investment in gold and silver. With bitcoin replacing gold as the alternative dollar, if the dollar collapses, gold and silver would not be the new US currency, you could get bitcoin as the new us currency, and if the dollar drags down the whole paper currency confidence with it, you have every currency on earth crashed with the dollar. So a world wide bitcoin is the cia plan.

Two-fold reasons for China to buy gold and silver.

You want to buy up gold and it has two effects gold/silver you are re-battling gold vs bitcoin sound money vs some ponzi scheme schemed by the cia, and you have something to back up your currency with.

You don't want the yuan to battle bitcoin, you want gold and silver rising value battling bitcoin. However you first want to keep buying up gold and silver cheap.

 

[PeaceGen]

https://www.kitco.com/commentaries/...igh-now-within-striking-distance-of-2000.html

Gold has risen ten out of the last eleven trading days. This week alone gold has traded to a new all-time record high on four of the five trading days. Most impressive was the closing price of gold futures today. The most active December 2020 Comex gold futures contract gained $27.20 and settled at a new all-time record high of $1994.00, this accomplishment occurred as gold’s intraday high was the highest ever recorded at $2005.40 per ounce.

As the last trading day of the month comes to a close, traders and market participants witnessed one of the strongest rallies in history with gold gaining approximately 10% this month. Undoubtedly this is one of the best monthly performance’s gold has produced, and now the precious yellow metal is within striking distance of the elusive number; $2000 per ounce.

In fact, today’s dramatic gains occurred in spite of U.S. dollar strength. The U.S. dollar has been in a freefall since the middle of March when the dollar index was trading at 103. The virtual meltdown of the U.S. dollar has devalued the currency by 10% in the last 4 ½ months.

Spot gold gained $18.90 in trading today closing at $1976.10. According to the KGX (Kitco Gold Index) traders and investors bought gold at such a fevered pace today that without dollar strength the net change on the day would have been $28.10 rather than $0.10 shy of $19.00. Dollar strength accounted for a negative gain of $9.20 today.


Goodbye USD! It was nice knowing you

lol. rofl. tell me when it hits rock bottom ok..
buy low, sell high

 

[zectech]

There is a reddit movement to destroy the short sellers of silver and even maybe crash the silver paper market.

Reddit day traders look to silver as the next short-squeeze after being restricted from hot stocks

Our competition is not with the dollar now. Our threat are these cia bitcoins. We want the dollar strong and to keep the dollar strong, we need to defeat bitcoin by making precious metals a viable investment again. cia Bitcoin ponzi scheme must never replace the dollar. Also the threat of bitcoin against every currency is real. China needs to stockpile high amounts of precious metals as possible for decades to make precious metal once again the anti-dollar play, along with holdings of millions of bitcoins as I have stated many times. Having federal reserve dollars and cia bitcoins as the two options is bad for everybody on earth. Silver investors must be rewarded for their investments, that is so long as silver is decoupled from bitcoin, meaning they don't rise together. The intent to crash the paper market and destroy the short selling has problems, as stated below.

The way to properly explain China buying up silver is to say China wants to buy up at these low prices before prices get into the many thousands. And that China has reason to believe bitcoins are a us deep state invention. And bitcoins are a clear and present danger to dollars and dollar holdings. Precious metal holdings by central banks secure paper money value.

China is being slowly boiled in evil with bitcoin. To do nothing and let the Yuan to end and bitcoin to replace the Yuan is the end of China.

Here is one opportunity. May work may not. These are China's decisions. Does China want to get impoverished by bitcoin or does China want the old dollar vs gold/silver battle back. Instead of dollar vs cia bitcoins.

Yes the whole media is going to go chimp out and western gubbermints are gonna chimp out too if China crashes the paper market of silver. It is going to cause a financial crisis worse than the 2008 sub-prime loan crisis because many banks are involved in shorts and paper and derivatives, and the West would blame China for simply buying up silver and gold. So maybe wait until China is exonerated from the blame for the US bioweapon attack known as the coronavirUS. I wanted China to reward silver investors back in 2018, when I joined the forum, to crash the banks and shorts and paper and have huge losses for the derivatives market. That would have been the perfect time, before the coronavirUS attack on China.

I am here still advising China to do this because there are not many opportunities like this. When bitcoin is mandated worldwide for trade and Chinese are poor and jobless. China is going to look back at opportunities that would have made gold and silver once again the anti-dollar players. China perhaps has several years before bitcoin replaces dollars and every currency on earth. Though you want to replace bitcoin with gold/silver before the bitcoin craze is going out of control. Already corporations and hedge fund managers are indicating these individuals want in on bitcoin.

China should want a world where the dollar (paper money) and gold/silver are strong investments/value. Bitcoin is the ruin of both.

The US operates on diabolical catch 22s. Where the cia wins with both sides. dollar vs bitcoin is the latest of these diabolical catch 22s. cia runs both Dems and Republicans, Republicans have historically started the conflicts around the globe. And Dems continue the policies of Republican cia operations. Syrian civil war was planned with Bush... Dems carried out the cia/pentagon/deepstate program. Pompeo says China is genociding Uighurs... Biden continues this lie. Dems are the better diabolical catch 22 than Republicans. The dollar is the better diabolical catch 22 vs bitcoin. You want the dollar/gold to defeat bitcoin and to be back to the dollar vs gold/silver, so gold can defeat the dollar.

It is my belief that when China was opening up, Kissinger proposed a diabolical catch 22 to China. It would be Kissinger-esque - that China if they want jobs has to be part of the UN zero population growth or no growth for China.

China has historically defeated the diabolical catch 22s. Capitalism was supposed to collapse the CPC communist system. China made their own brand of capitalism with Chinese characteristics. Openness and Western ways was supposed to cause Tienanmen Square incidents every year. This openness did not collapse China like the USSR. China was supposed to have democracy protests in HK or face UK outrage. China responded with new laws in accordance with the Constitution.

For the West, biden was the media and corporate candidate that was picked to lose against trump. biden was the weakest and least alive candidate and was picked weak against trump. This failed, and even the cia tried to stage a color revolution in the US with the insurrection and Qanon military psy-op operation, that failed.

What the cia have left is bitcoin.

Getting a world with dollar vs gold/silver instead of dollar vs bitcoin puts the nail in the coffin of the USA.

The defeat of bitcoin by China would be one of the greatest feats of the CPC. Hint, you can't short bitcoin, better to spend the money shorting bitcoin to actually paying the electric bill of mining bitcoin. the cia does not want Chins holding any bitcoins, it collapses their plan of China being poor without millions of bitcoins if bitcoin ever replaces the dollar and the rest of the world currencies. The cia plan of a 2nd trump term has been defeated for now, can the world come together and defeat bitcoin.

You can at any time defeat the dollar with gold and silver. That has been known for decades. Which is why the cia put forward bitcoins to defend the monopoly system of Washington. When the dollar collapses bitcoin is the new worldwide currency is the plan of bankers, corporations, and cia trolls.

 

[zectech]

Rough guess is at these prices world annual production is 25 billion USD in silver value per year. That is chump change to China. China can defeat the shorts, crash paper market. Save their currency.

When debt bubble bursts and paper money finally experiences hyperinflation in value dropping. bitcoin is the alternative anti-dollar play, and the banks, hedge funds, corporations, politicians and other losers agree on bitcoin as the anti-dollar play... meaning as the dollar collapses bitcoin is the replacement. And with bitcoin started by the "US gov't", the bitcoin is the new world's reserve currency and since the debt bubble is worldwide, the banksters would take the rest of the paper money with them, and there would be one world currency of bitcoin.

When the yuan is banned from the new Bretton woods and bitcoin is the only "currency" allowed, China if they are bright are going to look back at missed opportunities. This failed Reddit buy up of physical silver to defeat the shorts is going to be another missed opportunity to defend the renminbi.

Bloomberg - Are you a robot?

www.bloomberg.com

China has the ability to reward precious metals investors for their investments, while the banks stab China in the back with their planned bitcoins. Banks and cia drew first blood with bitcoin. China can have revenge in buying up physical silver.

Only a large player like China has the resources and savings to rescue silver and gold. Everybody else is going to be overtaken by bitcoin ponzi scheme insanity, because the banks keep silver and gold prices low with paper silver and paper gold that only those with hundreds of billions in savings can defeat. If Silver and Gold can't battle bitcoin, what is the other option. I can't think of any.

What is the point and objective of the involvement by China buying up physical precious metals (potentially). You want the headlines reading, gold is once again the anti-dollar play. gold is the undeniable store of value. And is a good investment. Silver too. Bitcoin is volatile and has no value. When these are the headlines, China won, their currency is safe. And the dollar has real competition - gold and silver again.

(Whether planned or not, this reddit failed short squeeze of silver is going to reinforce that precious metals are "bad investments" driving more fools to invest in cia bitcoin, whose price is targeted to reach 100 million USD once it becomes the sole world "currency")

 

[zectech]

Silver is not budging, even with physical supply in the dealers almost gone. Still under $30 for paper spot. Physical spot is in the $30s. The fact that silver is not $1000 currently because of massive, epic manipulation from shorts, and paper and other means of manipulation... and the fact that bitcoin is over 30000... more than proof that Washington wants bitcoin to succeed and silver to crash. Washington can ban bitcoin as fake money, bitcoin is not fiat money, not lawful money, not legal money. bitcoin is cia money. And therefore bitcoins are allowed to trade and be worth anything vs the dollar AND renminbi. renminbi are currently nearly worthless against cia bitcoins. The new planned and accepted "currency" that is the .... what Chinese members don't realize is that when it was gold vs dollar 15 years ago... when and if the dollar collapsed, gold was the store of wealth, gold was the source of security, gold was the safe haven, gold was the anti-dollar play, meaning the world would go to the GOLD STANDARD if the dollar collapsed. And countries held gold in the central banks for this purpose, to have something of VALUE, when paper crashes. Debt bubble burst could cause a paper crash of currencies. Fast forward to 2021, and you have Chinese picking their noses, wonder what the heck this bitcoin is. bitcoin has replaced gold, hedge funds want bitcoin, corporations want bitcoin, banks want bitcoin to succeed vs gold, politicians support bitcoin. bitcoin is the new anti-dollar investment. Meaning when the dollar collapses and drags down the entire world fiat currencies with them including the yuan, bitcoin is the new world currency. And the yuan is currently WORTHLESS when compared to bitcoin, and the cia plans bitcoin to be worth even more. The cia lost with trump, because people struggled to defeat trump and supported biden. To defeat bitcoin and save China, gold and silver have to rise, and not linked to bitcoin, they have to be decoupled. So China is rich with paper money, becoming more worthless to bitcoin everyday, and China is clueless about the real reason for the existence of bitcoin.

 

[zectech]

Is Silver the New GameStop? Thanks to Reddit, Precious Metal Hits 11-Year High

One of the odder financial events in the late 1970s was an attempt by the Hunt brothers, three Texas oil billionaires, to buy all the silver in the world. In the commodities markets, an attempt to control the inventory of an asset is known as a corner. The Hunts wanted a hedge against inflation and possible global economic collapse. They succeeded in controlling two-thirds of the world’s silver before the bubble burst in early 1980 — after my father sold his high school class ring for more money than he paid for it.

© MicroStockHub / Getty Images/iStockphoto Silver bars sitting on blue graph.

Some forty years later, a group of speculators banding together on the WallStreetBets Reddit message board are trying again. Inspired in part by the Hunts, traders are buying shares of silver miners and silver exchange-traded funds as well as ingots and coins. They are using the hashtag #silversqueeze and hoping to force anyone shorting the metal to close their positions. As of Monday morning, silver was up 9%, “the most in 11 years,” according to CNBC.

There are significant differences between metals markets and stocks. The first is something that thwarted the Hunts and made a little extra money for my father: there is a lot of silver floating around, and if the price is high enough, people have an incentive to sell keepsakes.

GameStop (NYSE: GME) has 69.8 million shares outstanding. The total number of silver atoms on earth also may be fixed, but no one knows exactly how many of those atoms trade, how many are sitting in people in people’s drawers and how many are yet to be mined. The Hunts simply could not raise enough money to buy all the world’s silver because the target kept changing. They could not meet a margin call on March 27, 1980, causing the price of silver to drop and the brothers to lose their billionaire status.

The current attempt to corner the silver market is likely to fail, but some people will make profits. In the short term, the inventory of coins and ingots is fixed, so prices will go up. Over time, more inventory will enter the market, bringing prices back down. The Hunt saga makes for fun YouTube videos and a great cautionary tale.

Is Silver the New GameStop? Thanks to Reddit, Precious Metal Hits 11-Year High

As I posted on Oct 30th, 2020:

To get silver and gold to high levels, you need state players like China to buy up gold and silver.

(post 38)

And like I stated, you want a low price to loot the world of silver. If silver is trading at $5, your money goes further to keep buying physical silver as it hits the market. Shorts are your friends when buying up the world supply of silver - to crash the shorts, to crash shorts and buy up every ounce of silver on earth - to bring silver to 10K USD or more, you need moron shorts short selling silver to $5 dollars, because your cash reserves to buy up the world's supply of silver and past 30 decades supply of silver requires low silver prices. If silver goes to $100, without a massive raid on the supply of silver, then your stash of money gets you little stash of silver. You burn out of money before you can crash the COMEX. Therefore as I state on post 38:

And these prices are too high for massive stacking for state players.

That China would need hundreds of billions of dollars to crash the COMEX and keep it crashed, with no supply of silver at the COMEX. If silver were are $5, and the idiots at JP Morgan kept shorting silver to $5 while a short squeeze was happening, more supply of physical silver would go out of the market and into China's hands, helping to keep silver at $1000s long term. You want to mop up decades worth of silver in the heist at low prices to crash the COMEX. This reddit squeeze looks to go nowhere, without more deep pockets to support the silver squeeze.

Why do you think I advise China to keep stacking at these low prices, because silver should be $5000 per ounce and more. Shorts are the friends are stackers, who do no want silver to be an investment. Who buy silver for silver. Because silver is real money. Regardless of the shorters on wall street and fake media, and fake everything.

However with bitcoin, and Precious metals under preforming, China needs silver and gold to be the store of wealth, China is going to be destroyed with bitcoin, so China is running out of time, and needs precious metals to replace bitcoin as the anti-dollar play.

Three response of China to bitcoin:

(1) develop a comprehensive strategy against the rise of bitcoin

or

(2) mop up dollars to try to prevent a collapse of the dollar - China would loose big time if the dollar collapsed

or

(3) see no evil hear no evil speak no evil - China ignores the problem in hopes bitcoin goes away


(1)
Strategy - stockpile raw materials to last 100 years, what trump wanted to do was to isolate China and force China to have a closed economy, to sanction China to the point of North Korea. The defense against this is to stockpile raw materials, and metals like steel. China defeated the trade war and beat trump. Forcing China to participate in the global economy only with bitcoins... it would be better for China to stack raw materials China does not have for times of want.

Strategy - get world opinion (Europe/Islamic countries/Africa/Latin America) against bitcoin. That the world wants national currencies (euros and yuans) with gold and silver as the flight to safety.

Strategy - get European nations to know that getting late into bitcoin, as in now, means they are enriching those who bought huge amounts of bitcoins at pennies. That this is not good for Europe. Precious metals must be the store of value, because Europe has very large quantities of precious metals.