There are still a hundred or so gold contracts left open in the January delivery month, but after yesterday's big delivery notice in silver, there are very few contracts left open in the January delivery month for that metal. But, having said that, of the 143 silver contracts posted for delivery tomorrow---96 of them were added yesterday, so someone needed a decent amount of that metal on zero notice. !!!!!!
Thanks for posting news and running through the EW projections. I enjoy CB and your informative posts.
Am trying to get a better handle on EW. (I get the 123 corrections but haven't yet learned to count to 5)
Following your numbers is very helpful~
JP Morgan’s Frauds are Epic---Unprecedented in World History: William Black
Professor Black is a former financial regulator and an expert in white collar crime. What does the Professor think about the trouble JP Morgan Chase has been in over things such as the so-called London Whale trading losses, the selling of tainted mortgage bonds and being a conduit for convicted fraudster Bernie Madoff? Just these three legal debacles alone have cost the bank nearly $23 billion in fines, restitution and trading losses in the last year. Professor Black says, “CEO Jamie Dimon has presided over the largest financial crime spree in world history. . . . It depends on how you count it, but it is more than a dozen, and more in the range of 15 major felonies that either the United States investigators have found, state investigators have found or foreign governments have found.” The Professor goes on to say, “JP Morgan’s frauds are epic in scale, unprecedented in world history. . . in these $23 billion we’re talking about, these are frauds that made Jamie Dimon and other senior officers incredibly wealthy by creating fictional income that led to very real bonuses.”
But, it’s not just JP Morgan. According to Professor Black, the entire financial system is headed for an even bigger collapse. As a major warning sign, Professor Black points to Treasury Secretary Jack Lew’s complaint about no money for regulation in the recent budget deal. Professor Black says, “Jack Lew is the anti-canary in the coal mine because Lew has been gutting regulation for virtually all of his professional life. . . . Lew is saying, my God we’ve gone so far we’re going to cause the collapse of the system. . . . You know when Jack Lew keels over, you know that carbon monoxide has already killed everybody reasonable.” Professor Black goes on to say, “The system is ungovernable . . . It has already largely imploded.”
Sharpie: a topic was in the works (“Collusion in the furtherance of manipulation”), but yours covered much the same material
Another source for most of the same information follows. To locate it put the following in your browser: “Gold-Update” by David Levenstein. This was dated 2 days ago. The following is a quote from within.
“...In mid-December, German banking regulator Bafin demanded documents from Deutsche Bank under an inquiry into suspected manipulation of benchmark gold and silver prices by banks. ...”
Suspected? LOL. It seems everybody that has been watching these markets has by now noticed the obvious.
The only question remaining will be, just as in Iceland, will anybody go to jail? Or will it be the typical inconsequential fine as business as usual continues? Bets here, with recent past history as a guide, is that the crooks in London and New York financial markets will continue with their crime spree until everything implodes. They show no indication of doing otherwise since jail is not in their future as regulators and police powers are bought off.