Great to have you back. The banks that are short tried like hell to tamp silver down this morning and have failed so far. Are they running out of ammo?
Ditch - what (if anything) do you make of 4 large banks visiting China in the past few weeks? Are they trying to beg (or bribe) China to hold the silver price down until they can get out of their short positions?
The banks know which way this is going and they are not trading for the house account - the house accounts are long gold and silver. There is only one party for whom cash losses do not matter, as they can print as much as they like. That party will also be very happy to settle off market, to keep its identity hidden... and that party is now desperate.
It seems pretty clear to me that the banks are acting as agents for the Fed.
Nothing like the 4 corners to get ones mind straight...
I keep tryin to fully understand this system explained by your work, and slowly gettin' there, but it's like learning Sanskrit at an old age.
So for,this month, the "bottomless checkbook" "spent" approx ~ 50 to 100 million USD, ( if say paying 5-10% over contract for the 33.7 mill. oz settled off contract) to keep the game rolling?
Great to have you back - all rested and ready to report on pre-launch shenanigans and summer pyrotechnics.
Great to have you back. The banks that are short tried like hell to tamp silver down this morning and have failed so far. Are they running out of ammo?
Ditch - what (if anything) do you make of 4 large banks visiting China in the past few weeks? Are they trying to beg (or bribe) China to hold the silver price down until they can get out of their short positions?
The banks know which way this is going and they are not trading for the house account - the house accounts are long gold and silver. There is only one party for whom cash losses do not matter, as they can print as much as they like. That party will also be very happy to settle off market, to keep its identity hidden... and that party is now desperate.
It seems pretty clear to me that the banks are acting as agents for the Fed.
Nothing like the 4 corners to get ones mind straight...
I keep tryin to fully understand this system explained by your work, and slowly gettin' there, but it's like learning Sanskrit at an old age.
So for,this month, the "bottomless checkbook" "spent" approx ~ 50 to 100 million USD, ( if say paying 5-10% over contract for the 33.7 mill. oz settled off contract) to keep the game rolling?
Was that a tamp down today?
Or just a Tamp and Rebuy at a profit?
You got out of the Southwest just in time.
First heat warnings of the season coming later this week.
Phew - thought maybe "they" got to you, glad to see it was just a vacation.
Thanks for the insights; the off-exchange transactions are always interesting (if not maddening) and well-played by Macquarie!
Glad you had a great hiking trip Ditch......also glad you're back! Thanks for the update.
I wonder if the Macquarie account is the bank in Australia that is going cashless, and if so, what (if any) correlation there might be.
https://news.bitcoin.com/macquarie-bank-to-go-cashless-as-the-banking-sector-shifts-to-digital-only-in-australia/
Great to see our frontman is back!🥳
How about the story that Europeans all of a sudden aren’t aloud to buy PSLV? I know I can’t anymore. Only selling is possible.
what country-state are you in?