The Phaserl


Summarizing The Latest BPR

by Turd Ferguson, TF Metals Report:

As you know, the CFTC-generated Bank Participation Report contains the evidence that the U.S. banks or, more likely a single U.S. bank, have “cornered” the Comex gold futures market. The latest BPR came out last Friday and it confirms that this condition still exists.

First, a refresher….What the heck is the “Bank Participation Report” anyway? It’s a summary report issued by the CFTC, usually on the Friday following the first Tuesday of every month. As with all CFTC data, it is deliberately opaque in that individual firms are not specified. Instead, the report aggregates the positions of the four largest U.S. banks and the twenty largest non-U.S. banks.


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2 comments to Summarizing The Latest BPR

  • rich

    Dollar era drawing to its end

    In St. Petersburg, Russia signed a series of agreements that undermine this monopoly. On the first day of the summit, Gazprom and the Chinese state oil company signed an agreement on the basic conditions of supply of gas and oil and gas development in Russia. It is imperative that the currency of the agreement is the yuan or ruble, and the price of the supplied hydrocarbons will be determined on a bilateral basis without a reference to the Anglo-Saxon index Henry Hub determined on the London Stock Exchange. This guarantees that speculative impact on the Russian economy due, for example, to shale gas supplies, will be minimized.

  • Frank Zak

    As I mentioned last week gold and
    silver topped.

    The next bottom is 24 weeks away.
    Which is an awful long time. Will be able to give you
    exact bottom when it occurs. This will be a great
    opportunity at this time, 24 weeks away, as it will
    run up for many many weeks afterwards.

    It should be the major bottom we are all looking for.

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