The Phaserl


Again no change in GLD and SLV inventories/Surprisingly no gold is entering the comex

by Harvey Organ,

Good evening Ladies and Gentlemen:

Gold closed down $25.40 cents to $1326.60 (comex closing time ). Silver was down $1.15 cents at $21.83.

In the access market today at 5:15 pm tonight here are the final prices:

gold: $1322.80
silver: $21.91

First day notice for both the gold and silver non active November month is today.
The gangsters generally hit gold and silver right after options expiry on both metals usually 4 days before first day notice. This is done to convince those exercising for a futures contract from taking delivery on that contract. This is done time and time again right under the noses of our regulators but they do nothing.

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1 comment to Again no change in GLD and SLV inventories/Surprisingly no gold is entering the comex

  • rich

    A new world order and China’s key role
    By Henry C K Liu
    This is the first in a series.

    The unraveling of the global financial network and trading system since the onset of the global financial crisis that began in New York in mid-2007 has continued for more than five years with no end in sight, despite coordinated, extended monetary easing by many central banks to shore up a seriously impaired neoliberal global financial system that has been disintegrating at the core from its own internal contradictions.

    On the occasion of the First G20 Leaders Summit of 2008, Paul Davidson and I co-authored an Open Letter to World Leaders dated November 7, a week before the White House meeting. The Open Letter was co-signed by a large number of other supportive economists worldwide. The Open Letter recommended a new international financial architecture based on an updated 21st century version of the Keynes Plan originally proposed at Bretton Woods in 1944.

    This new international financial architecture proposed in the Open Letter will aim to create:
    1) a new global monetary regime that operates without national currency hegemony,
    2) global trade relationships that support rather than retard domestic development and
    3) a global economic environment that provides incentives for each and every nation to promote full employment and rising wages for its labor force.
    After two decades of substituting wage increases with consumer debt in order to maximize return on capital by tilting the distributional balance between capital and labor against labor to the benefit of capital, and the detriment of demand, overlooking the structural wage-price dynamics of Fordism that built the US middle class, this win-win illusion of comparative advantage in international trade without the prerequisite of global full employment with rising wages has been shattered by concrete data: relative poverty has increased worldwide and global wages, already low to begin with, have declined since the Asian financial crisis of 1997, and by 45% in some emerging market economies, such as that of Indonesia. As wages failed to grow, demand was kept high by debt unsustainable by low wages.

    Under dollar hegemony, export to US markets is merely an arrangement in which the exporting economies, in order to earn dollars to buy needed commodities denominated in dollars and to service dollar loans and direct investments, are forced to finance the US consumption beyond the level supported by US wages, and by the need to invest their trade surplus dollars in dollar assets as foreign-exchange reserves, giving the US a rising capital account surplus to finance its rising current account deficit.

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