Member Info for speedymeadie

Hi All. The COT report is week late news. The reported data is from close of play on a Tuesday and released Friday night. The reason for todays action will not be known until Sat week. I suspect a big drop in naked short positions or a massive rise in hedge fund longs. Inflation and neg interest rates are starting to spook the market. If the POG can hold above $1830 for the week then i see a spike to $2000 and beyond. Whilst being good for our co this is not a good sign for the world, be prepared for the worst. ATB Speedy

HiJerry. Starvest have dropped 50% over the last 12 mths. Is that because of the high geared investment is GGP or some other factor. The 15% spread will prove to be only a small problem over time. ATB Speedy

Hi Phelpsb. The slight correction in the POG is due to the fantastic run up prior, plus the bullion banks are keeping the POG around the $1800/oz fig to allow a controlled retreat from what was an obscene short position. All pointers are for a much higher POG going forward. ATB Speedy

Hi froggzy. With the implementation of Basel111 and Basel1111 "naked" trading in all markets will be a no no. To get around this in the gold space the traders on COMEX use liquidity providers (holders of physical) by leasing (lending) gold to shorts. The problem is that more and more traders are wanting delivery in gold not $s (8 tons last month) and the liquidity providers are reluctant to settle so are pulling liquidity. Will this be the catalyst for a higher POG? no one knows. I see it as just another tailwind in the space. The LBMA(10 times bigger than COMEX) has delayed implementation until 2023 so the effect will not be felt this year but the traders will be preparing towards the end of 2022. The main driver for a higher POG is negative interest rates and as inflation increases so does the negativity. Add to that currency debasement and massive unpayable debt levels the future for PMs looks bright. ATB Speedy

Hi All. European refiners are having to cut back on production due to supply issues just when there is unprecedented demand for physical gold. Basel 111 is starting to bite COMEX traders with liquidity providers unwilling to cover un allocated shorts due to possible physical delivery demands, this will spill over into the 10 times bigger LBMA OTC market putting further pressure on the shorts to cover. Will this produce a short squeeze? Bet your life it will.
Silver is the most undervalued commodity on the planet at the moment with a $2 difference between paper and physical wholesale prices. This cannot continue and i see the paper control coming to an end.
When the POG holds above $1830 for a week a spike to $2000 is expected. Lets all hope this happens prior to the end of our 5% negotiations. ATB Speedy

Hi Mattyboy. Well done, you are some one to be proud of. Caring for your father for all those years was a hard thing to do. I second the opinion that you should take the best legal advice available prior to making decisions, equity release is about the worst. ATB Speedy

Hi Starbright. I thank you for your indepth analysis. The OTC market is opaque in the extreme. A deal between JPM and BOA (BAC) can be hidden in a variety of ways. Your analysis assumes a compliant approach. The proven criminality of both these entities is worrying and investing in them carries a moral problem. Is it possible to believe a word they say? ATB Speedy

Hi Blindfaith. My understanding is that BOA have used the leased gold to assist several gold tracking ETFs. What the outcome of that will be will depend on the chain of counterparty risks holding good. ATB Speedy

Hi Starbright. JPM have leased to BOA a parcel of gold. BOA at some time in the future have to repay that gold. This is a paper transaction so no gold actually changes hands just the liability. BOA will want to repay that gold at a lower price than they paid hence me calling it a short position. I am not 100% certain of the exact details of the lease as the OTC market is very opaque. The potential losses are massive for BOA. Just because they are a bank does not make them clever and are prone to some very stupid actions. Hope that answers your questions. ATB Speedy

Hi Starbright. BOA is one with a short position against JPM for $300bil. ATB Speedy

hi B4zh. The implementation, in the UK, for Basel 3 has been put back a year, by the BOE, to allow the LBMA time to adjust their short position. I still fully expect gold to rally in 2022 and even more into 2023. ATB Speedy

Hi TT. They are not alone many, many entities around the globe are saying and doing the same thing. Short equities long PMs. ATB Speedy

Hi CJ. Market manipulation is pandemic, some times gov/CB backed, sometimes hedge funds or HNW individuals and some times large Cos wanting control over other Cos. Out little co is no different and with the potential for a multiple $billion co it is no wonder that 1 or several want a piece of the pie. All we (as PIs) can do is ride the storm and maybe take advantage of the current SP. ATB Speedy

Hi All. There is a desperate battle going on in the gold space. The bullion banks want to clear their short side (approx net $35 billion) and keep on driving the price down to $1800. This has the effect of offering a opportunity for all to buy gold at a relatively low price and HNW individuals are standing for record amounts of delivery from COMEX. At the same time the banks have increased, not decreased, their shorts by 7000 contracts, they are not happy. Another interesting fact is that the USA retail market has purchased record amounts of physical gold in the last 12 mths (they are waking up at last) but are well behind the Russians and Chinese. ATB Speedy

Hi Mush. Why use 1 word when a 1000 will do? ATB Speedy

Hi Jerry. HNY to you.Good to see you back. ATB Speedy

Hi Hollamatronic. That only values the whole of Hav at 1bill. I cannot see many here agreeing to that. ATB Speedy

Hi Ben. Not too long to wait. ATB Speedy

Says mr two fat ladies

Hi All. What we need is some ramping up of these figs. Try a POG at $2200/oz and 30mill ozs and then POG at $2500 and 40mill ozs. Mickeys predictions look better and better. ATB Speedy