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Short squeeze in gold?
Submitted by Jive_Dadson on Fri, 11/21/2008 - 11:38
GOFO, the gold offered forward rate, has been negative for two days. Hang onto your hats. (And your gold.) http://www.lbma.org.uk/?area=stats&page=gofo/2008gofo ... » |
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So what are the ramifications....
.. if the COMEX shelves are bare???
Gold boom? Silver as well?
It's obvious the prices have been manipulated in an attempt to show the dollar and the economy as stronger than it is but it sound like that is coming to an end!
Those who still hold it are in good shape? I hope?
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
take delivery
When the shelves are bare, the manipulation of paper metal is over.
If the shelves are bare and people take physical delivery, then the price will spike - double, triple, maybe more.
http://FlipFlopRomney.blogspot.com
Not that I think that this is a likely option but ...
there is another option ....
Remember what FDR did ... or was it WW?
Require gold to be turned in.
WAHOR!!
http://www.dailypaul.com/node/48994
WAHOR!!
http://www.dailypaul.com/node/48994
as Peter Schiff would say
total headfake
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“The Roots of Violence: Wealth without work, Pleasure without conscience, Knowledge without character, Commerce without morality, Science without humanity, Worship without sacrific
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"The essence of freedom is the proper limitation of government". ~ Founding Fathers
Is this the Comex crash they were talking about a few days ago?
I thought that was due the 20th?
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
Here's the schedule
Options expired yesterday. Futures do not begin settling until the 28th.
Nov. 20 Comex December gold options expiry
Nov. 20 Comex December silver options expiry
Nov. 24 Comex December miNY gold futures last trading day
Nov. 24 Comex December miNY silver futures last trading day
Nov. 28 Comex December gold futures first notice day **1st day to take delivery**
Nov. 28 Comex December silver futures first notice day **1st day to take delivery**
Dec. 29 Comex December gold futures last trading day **Last day to take delivery**
Dec. 29 Comex December silver futures last trading day **Last day to take delivery**
a nice little Christmas
a nice little Christmas present??
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Here's the deal
Suppose you are a bullion bank, and that forward contracts on gold are cheaper than spot gold. You can make a guaranteed profit (arbitrage) by simultaneously selling spot gold and buying futures contracts. You take the money from the sale and invest it in T-bills. When the futures contract is due, you just buy back the gold that you sold for less than you sold it for. So why is that not happening? Could it be that the bullion banks are out of gold?
There's more evidence of that. When a "commercial" like a bullion bank buys physical gold, they simultaneously go short in the futures market. Thus they are hedged against a price decline, and can make a profit on the bid/ask spread for physical gold. When they sell some gold, they cover in the futures market. But recently the commercials have been net LONG in the futures market. What can that mean if not that they are out of the real stuff and looking to buy?
Thanks for the explanation
Maybe the same thing is happening with silver, because it is creeping up to today too.
Is this when we find out that Fort Knox has been emptied?
That we've sold of all our gold reserves in return for some trinkets and shiny beads?
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
No, but...
No, but it may be when we find out that COMEX has been emptied.
Why hang on to your hats?
What does this mean?
_________________________
http://www.jabronitools.com
It means that gold for
It means that gold for immediate delivery costs more than gold for delivery in a month or two. That almost never happens. December contracts on the COMEX are due. We could be seeing a huge short squeeze.
and a comex default in the
and a comex default in the making!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Is that why
it is heading up today?
Well...
That's my take on it. But one seldom can identify a "why" for certain.
You may be right
because something is happening. Up $53 so far and the market is up.
$56.75
... and counting.