The Phaserl


Contrary To Popular Belief, Paper Is The Bellwether For Near-Term Precious Metals.

By Michael Noonan, Gold Silver Worlds:

For all of the disdain directed toward the paper futures markets in gold and silver from the Precious Metals, [PM], community, those markets continue to set the tone for pricing. Why is that?

People by the tens of thousands lining up to buy gold and silver, waiting for hours in lines; record sales for gold and silver coins growing month by month; central banks have over- leased their gold holdings, [add also the gold holdings of its customers, against their knowledge]; banks no longer delivering physical gold; banks with allocated gold accounts held by the uber-wealthy not able to make good in delivering gold to rightful holders; German bank demanding gold back from New York and London, told “unable” for the next seven years, not weeks, not months, years; India banning gold imports, and now Pakistan. There are many rumors that COMEX /LMBA have little to no gold and silver available to deliver. The paper markets are garbage, worthless, a joke.

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5 comments to Contrary To Popular Belief, Paper Is The Bellwether For Near-Term Precious Metals.

  • Frank Zak

    It is very very possible the gold market
    could snap. You can only bend a twig so far.

  • Frank Zak

    Something strange is happenning in silver
    for last 2 weeks. There is a major player
    that keeps taking silver back up to $20.

    This is showing me the big boys are long
    and could be hurt very badly if silver
    goes down.

    In fact they could be blown away if silver

  • Frank Zak

    Short term gold is overbought and a
    slight correction could happen.
    Range trading in a channel
    could occur.

    But, the lows put in June 28 would
    be a nice place to buy in
    if it reaches there.

    The Bollinger bands should hold
    the June bottoms again on a retest.

  • rich


    Choosing a topic to write about in today’s world is usually no problem. I usually sit down for 5 minutes watching CNBC, hear something really stupid and point at the TV and say “I call B.S.” Today I got an e-mail from one of the largest gold/miner money managers in the world in response to my last piece. He told me that one of his salesmen just went to a presentation by the CEO of one of the largest miners in the world. The salesman asked him, why do they keep selling more to bullion banks? Why don’t they sell directly to the marketplace? Why not sell directly to a mint or a refiner and cut out the supply that the bullion banks use to fractional reserve or hypothecate …more gold than exists?

    OK, here is the punch line. The CEO replied “I never thought of that.” Are you serious? Are you an idiot or just plain ignorant? Think about it, if some guy with a mask broke into your house and held a gun pointed at you…and then said “It’s not loaded, can I borrow some ammo?” …would you scrounge around and give him some? Don’t get me wrong, the mining companies do (will) have huge leverage to the price of gold but they are being run by complete fools!

    • Ed_B

      It absolutely amazes me that the major gold miners have not formed a cartel of their own and then set the price that they MUST have to remain profitable. Instead, they subject themselves to the whims of the naked short selling paper mongers as their idea of how gold prices should be set. HUH? This is insane. Why would anyone tolerate that? No one would… unless… some boys showed up at their house one night and made them an offer they could not refuse.

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