Posted on 03/29/2025 10:37:02 AM PDT by delta7
The naked short on the March silver contract is the HSBC "customer" account.
I had posted about this situation a couple of days ago on X, pointing out that the OI was one of the highest ever at this point in the delivery cycle:
https://x.com/DtDS_WSS/status/1904572463012282757
Over the last two days, that HSBC "customer" account has issued delivery notices on 417 contracts (2.1 million ounces) dropping the open interest as of this morning's open to 223 (1.1 million ounces). Last notice day is tomorrow (March 28) so they have delayed to the last moment…
This isn't the first time HSBC was caught naked short. On one prior occasion, Band of America bailed them out in the waning days of the contract. On this occasion it appears (for now) they found some metal to deliver. I’ll get to the vault moves in a moment. ...
I have theorized that this isn't a customer account but is an HSBC bank account designed to suppress the price at the world's price-setting venue (Comex) as they accumulate metal at non-price setting venues. I tagged this the "Differential Lag Theory," meaning they can buy at remote locations but the price signal lags Comex. ...
... For the remainder of the analysis:
https://econanalytics.substack.com/p/comex-silvers-situation-is-precarious
“Gold at 3060 USD’s is becoming unaffordable”
It was more unaffordable at $5,000 in 2015.
That would be almost $7,000 in today’s dollars.
Interesting comments at the site.
Gold did not hit $5k in 2015. Record high spot was two days ago.
No - I sold a bunch in 2015 for $1200 per oz.
But it should have been at $3,000 in 2015 according to a Martin Armstrong forecast. That’s what my AI says.
“Gold did not hit $5k in 2015.”
I didn’t say it did.
OTOH, that was Armstrong/delta7’s prediction in 2014.
Where are you getting $5K in 2015?
Put the pipe down!
“But it should have been at $3,000 in 2015 according to a Martin Armstrong forecast. That’s what my AI says.”
You are mistaken. He predicted $5,000.
“Gold rises when people lose confidence in government. It has nothing to do with inflation. So, when you start to worry about government is not going to survive or who’s going to win, that’s when gold rises. Short term, we still have the risk of it going under $1,000 per ounce. It’s going to flip when everything is right. It will probably max out at $5,000 per ounce. . . . You are really talking about a major reset coming. 300 years ago, that was the revolutions against monarchy. Today, it’s going to be revolution against . . . pretend democracy. We do not have a democracy.”
We would slightly disagree with this as research and the historical record shows that gold is a hedge against inflation – particularly virulent inflation as was seen globally in the stagflation of 1970s and the litany of hyperinflations seen in the last 100 hundred years.
Martin Armstrong was accused of running a $3 billion Ponzi scheme and served 11 years in jail under house arrest, including a possible record seven years for contempt of court in a dispute over gold and antiquities. He is a former financial adviser who was Chairman of an investment firm called Princeton Economics International and he is best known for his economic predictions based on the Economic Confidence Model, which he developed.
https://www.goldcore.com/blog/martin-armstrong-gold-bullion-to-max-out-at-5000-per-ounce
Shoulda, coulda, woulda…
If gold was where it “should” be…I would be rich today.
Hope it’s not one of the Cartel money laundering accounts that they are coming up short on ... could be a fatal short.
nobody wants to to be short to death.
nobody wants to to be short to death.
If gold was where it “should” be…I would be rich today.
————-
Patience, Gold historically is Wealth. If, as many greats are forecasting, a great global financial melt down occurs, you will be one of the few that prospers “ on the other side”.
All that said, Gold is insurance against failing currencies and equities, time tested.
You: “It was more unaffordable at $5,000 in 2015.”
Correct. I said that it was more unaffordable at $5000.
I didn’t say it was priced at $5000.
The high in 2015 was $1,183. 2011 was a little higher at $1,852. Today, it's over $3,000.
Dear Marty,
You said gold would at $5,000 in 2015.
Can you explain how Socrates got it so wrong.
MA
“On one prior occasion, Band of America bailed them out”
Great band.
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