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Ihubber's FUN House (FUNHouse)

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SkeBallLarry

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SkeBallLarry

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SkeBallLarry

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Tree

09/06/24 9:48 AM

Post #320,151

Re: #320,150: @pos_stock_hoarder - Don't worry, Rat hasn't gone soft!

LMAO!!!!

pos_stock_hoarder

09/06/24 9:22 AM

Post #320,150

Re: #320,149: @Tree - LAREE!!!! It had me jumping off of my couch!

Don't worry, Rat hasn't gone soft!

Tree

09/06/24 8:28 AM

Post #320,149

Re: #320,148: @SkeBallLarry - " Boy 'O Boy ~ whatta Game "

LAREE!!!!
It had me jumping off of my couch!

SkeBallLarry

09/06/24 8:20 AM

Post #320,148

Re: #320,146: @Tree - LMAO!!!

" Boy 'O Boy ~ whatta Game " .. !!!

wow_happens28

09/05/24 4:38 PM

Post #320,147

Re: #320,130: @SkeBallLarry - Waylon >

Hey Hey What Can I Do, Page and Plant

The Only single that Led Zep put out that was never on an LP. It was on the flip side of Immigrant Song.

Tree

09/05/24 10:10 AM

Post #320,146

Re: #320,145: @pos_stock_hoarder - https://media3.giphy.com/media/11WsJMBxcels8E/200w.gif?cid=6c09b952x7vgvecw

LMAO!!!

pos_stock_hoarder

09/05/24 9:27 AM

Post #320,145

Re: #320,144: @Tree - Good morning my fellow Three Peats!

Tree

09/05/24 8:42 AM

Post #320,144

Good morning my fellow Three Peats!

pos_stock_hoarder

09/04/24 10:26 PM

Post #320,143

Re: #320,142: @Flobewan - https://investorshub.advfn.com/uimage/uploads/2013/2/26/gvipcwaitwat.gif[/i

Flobewan

09/04/24 8:18 PM

Post #320,142

Re: #320,140: @pos_stock_hoarder - https://media.giphy.com/media/kzuKRQ9BN3Ffy/giphy.gif

Tree

09/04/24 9:10 AM

Post #320,141

Re: #320,140: @pos_stock_hoarder - https://media.giphy.com/media/kzuKRQ9BN3Ffy/giphy.gif

LOL!!!

pos_stock_hoarder

09/04/24 9:04 AM

Post #320,140

Re: #320,139: @Tree - Good morning my fellow trudgers

Tree

09/04/24 8:59 AM

Post #320,139

Good morning my fellow trudgers

pos_stock_hoarder

09/04/24 8:53 AM

Post #320,138

SkeBallLarry

09/04/24 5:35 AM

Post #320,137

Gigglin's Island >>>
👀🎶🤣 pic.twitter.com/JWMzHTdU6a
— C3PMeme (@C3PMeme) September 3, 2024

((( UnMute, Place (( pic.twitter.com/JWMzHTdU6a ))
~ in your Address Bar *above* )))

wow_happens28

09/03/24 6:18 PM

Post #320,136

Re: #320,125: @Flobewan - https://www.youtube.com/watch?v=ut1NEhQA1fM

Ross Copperman- Holdin On and Letting Go - with lyrics

pos_stock_hoarder

09/03/24 10:41 AM

Post #320,135

Re: #320,133: @Tree - LOL!!! That actually isn't too bad

LOL. Reach for the sky or I shoot. BAM!

Hope you had a great weekend!

Tree

09/03/24 10:01 AM

Post #320,134

Good morning my fellow disgruntles!

Tree

09/03/24 10:01 AM

Post #320,133

Re: #320,124: @pos_stock_hoarder - Ah! A worthy groaner!

LOL!!! That actually isn't too bad

I have seen a pic of a guy with no arms wearing a shirt that says "Don't be afraid. I am unarmed." LMAO!!

wow_happens28

09/02/24 5:42 PM

Post #320,132

Re: #320,127: @SkeBallLarry - Haven't Met You Yet >

Rascal Flatts - Bless The Broken Road (Live)

wow_happens28

09/02/24 5:32 PM

Post #320,131

Re: #320,130: @SkeBallLarry - Waylon >

Rascal Flatts - Unstoppable CSI: Mix

SkeBallLarry

09/02/24 9:57 AM

Post #320,130

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

Waylon >

SkeBallLarry

09/02/24 9:55 AM

Post #320,129

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

Burning a Hole in my Heart >

SkeBallLarry

09/02/24 9:54 AM

Post #320,128

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

Mama Don't Allow, (good music) >

SkeBallLarry

09/02/24 9:53 AM

Post #320,127

Haven't Met You Yet >

SkeBallLarry

09/02/24 9:52 AM

Post #320,126

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

Strait >

Flobewan

09/01/24 7:11 PM

Post #320,125

pos_stock_hoarder

08/30/24 4:07 PM

Post #320,124

Re: #320,108: @Tree - LMAO!!!!

Ah! A worthy groaner!

MiamiGent

08/30/24 12:45 PM

Post #320,123

Re: #320,121: @SkeBallLarry - " I agree with that strategy, MiamiGent ~

Ya, it can be harrowing out there, Ske!

MiamiGent

08/30/24 12:44 PM

Post #320,122

Re: #320,120: @pos_stock_hoarder - Hello, MG. This has a really perfect

Yes, I observed the same psh- a very well-done video to go with a fine instrumental

Sometimes the videos make little sense, but this one really fits!

SkeBallLarry

08/30/24 9:22 AM

Post #320,121

Re: #320,119: @MiamiGent - Driving as much as I do, I listen

" I agree with that strategy, MiamiGent ~ Big Welcome " ... !!!

pos_stock_hoarder

08/30/24 9:11 AM

Post #320,120

Re: #320,119: @MiamiGent - Driving as much as I do, I listen

Hello, MG. This has a really perfect video to go with the song!

MiamiGent

08/30/24 8:03 AM

Post #320,119

Driving as much as I do, I listen to classical music to help me be calm, between the periodic cars veering into my line while the driver is focused on his cellphone.
But when I pull in to rest for the night, I listen to 70's and some 80's music, to touch my memories of then.
Mark Knopfler is one of the good ones:

SkeBallLarry

08/29/24 12:49 PM

Post #320,118

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

" Luv this one, WoWMan ~ Thank you " .. !!!

SkeBallLarry

08/29/24 12:49 PM

Post #320,117

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

Noora Noor, she don't luv you like I luv you >

SkeBallLarry

08/29/24 12:47 PM

Post #320,116

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

% Memphis Soul % > good stuff >

SkeBallLarry

08/29/24 12:47 PM

Post #320,115

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

% Sept. Morn % >

SkeBallLarry

08/29/24 12:45 PM

Post #320,114

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

% Staples % >

SkeBallLarry

08/29/24 12:44 PM

Post #320,113

Re: #320,112: @wow_happens28 - Unwritten (Official Video - UK Version)

3 Degrees >

wow_happens28

08/29/24 12:44 PM

Post #320,112

Re: #320,111: @SkeBallLarry - % J.D. Souther % >

Unwritten (Official Video - UK Version)

SkeBallLarry

08/29/24 12:43 PM

Post #320,111

Re: #320,110: @wow_happens28 - Zach Bryan- Pink Skies (Houston 7-27-24)

% J.D. Souther % >

wow_happens28

08/29/24 12:33 PM

Post #320,110

Re: #320,098: @SkeBallLarry - % Young Vince %>

Zach Bryan- Pink Skies (Houston 7-27-24)

Giovanni

08/29/24 8:37 AM

Post #320,109

Re: #320,105: @pos_stock_hoarder - https://assets.amuniversal.com/77f0a5304070013d68f8005056a9545d

Moving Toward Failure - London Gold And Silver Data Point Toward The End of London's Metal Price Setting Rig

David Jensen
Aug 24, 2024
The price-setting system of selling promissory notes, that do not require specific vaulted bars allocated to buyers, in the world’s largest gold and silver cash/spot immediate ownership market in London can only continue as long as the holders of those promissory notes are content with paper and do not ask for bar delivery.

The currency printers at the UK’s central bank, the Bank of England, have run this price setting scheme since 1987 and current data and indicators are showing market supply stress in both the gold and silver markets.

As the demand for metal delivery grows, the immense leverage of claims for metal vs actual vaulted available metal translates to the London market moving toward a sudden failure of its price setting / price control scheme through default by the issuers of these promissory gold and silver cash/spot claims.

Overview of London Gold Market Stress
With global physical gold demand in Q2 2024 reported at an all-time high and Q2 2024 Over-The-Counter (OTC) physical gold bar delivery demand in London running now at a multi-decade high of 329 tonnes, let’s look at the status of the London leveraged gold market.

The LBMA gives daily net-settled gold clearing volume of 17 million (M) oz. per day in London.

The LBMA also states in their 2011 Loco London Liquidity Survey that daily trading turnover or volume is estimated at 10x the daily net-settled clearing volume giving the latest daily gold trading volume of 170M oz. per day.

Assuming 90% of daily trading in London is in the cash/spot market, total open interest claims of 2x daily trading volume translates to claims for 306M oz. or 9,517 tonnes of cash/spot gold in London.

Assuming total open interest claims of 3x daily trading volume translates to claims for 459M oz. or 14,276 tonnes of spot market gold in London.

Current vault holdings in London not claimed by the BoE or ETFs is 1,304 tonnes (see Figure 1 below).

Note that this 1,304 tonne amount or ‘float’ includes all gold held in London vaults not claimed by the BoE or ETFs and that much of this 1,304 tonne float is tightly held and not available to market.

Compare the 1,304 tonnes of gold float to the 329 tonnes withdrawn from the London OTC market in Q2 2024.

Figure 1; LBMA London Vault Gold Holdings

The draw rate of gold in the London OTC market vs the gold float indicates that some gold must be provided from other sources to allow delivery.

A further indicator that the increasing draw of bars from the London OTC market since 2022 is inducing market stress is that short-term lease rates, that reflect the ability of bullion banks (that have sold cash/spot claims) to borrow gold to make delivery when demanded, has also been elevated since 2022 to levels seen during the 2008 Financial Crisis.

Figure 2; Gold Market Implied Lease Rates

Assuming the low estimate of 9,517 tonnes of gold claims in the London cash/spot market and the fact that we can see the OTC physical gold draw intensifying since 2022, at some point we will see available gold limited and default by parties that have sold paper gold into the London market.

The global gold market will then flip to supply-demand price discovery, unsatiated by paper metal offerings, and much higher prices.

Overview of London Silver Market Stress
The global silver market in 2024 is seeing an annual silver supply deficit for the sixth consecutive year.

The LBMA gives daily net-settled silver clearing volume of 236 million (M) oz. per day in London.

Using the 2011 Loco London Liquidity Survey multiplier of total turnover or trading volume of 10x the daily net-settled clearing volume giving the latest daily silver trading volume of 2.36 Billion (B) oz. per day in London.

Assuming 90% of daily silver trading is in the cash/spot market and assuming total open interest claims of 2x daily trading volume translates to claims for 4.248B oz. or 132,130 tonnes of spot market silver in London.

Assuming total open interest claims of 3x daily trading volume translates to claims for 6.372B oz. or 198,195 tonnes of spot market silver in London.

Current vault silver holdings in London not claimed by ETFs is 10,440 tonnes (see Figure 3 below) - not much in comparison to the above estimated market claims in the London silver cash/spot market.

Figure 3; London Vault Silver Holdings

Similar to gold, we can see elevated short-term silver lease rates in the silver market indicating elevated silver supply stress.

Figure 4; Silver Market Implied Lease Rates

In summary, because of the leveraged paper market claims for both gold and silver in the London market and the growing global shortage of gold and silver, both of these metals are trending toward default on the London spot/cash market.

Default in one metal will likely trip to physical supply-demand pricing in both metals - a rapid re-pricing to much higher levels as the decades of faux paper metal supply is resolved.

Best regards,

David Jensen

Thanks for reading Jensen's Economic, Precious Metals, & Markets Newsletter! This post is public so feel free to share it.

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Tree

08/28/24 11:21 AM

Post #320,108

Re: #320,105: @pos_stock_hoarder - https://assets.amuniversal.com/77f0a5304070013d68f8005056a9545d

LMAO!!!!

Tree

08/28/24 11:18 AM

Post #320,107

Re: #320,104: @pos_stock_hoarder - https://media4.giphy.com/media/v1.Y2lkPTc5MGI3NjExbnRyY2wxOG9ibGQ5eGF5ZTc3M

LMAO!!!

Tree

08/28/24 11:18 AM

Post #320,106

Re: #320,103: @SkeBallLarry - " Good Morn'n, Forrest ~ no sleep ~

Laree!!!
I did not have one of my better sleep nights either last night

pos_stock_hoarder

08/28/24 9:54 AM

Post #320,105

Re: #320,102: @Tree - LOL!!!

pos_stock_hoarder

08/28/24 8:54 AM

Post #320,104

Re: #320,101: @Tree - Good morning my little MIAs!

SkeBallLarry

08/28/24 8:44 AM

Post #320,103

Re: #320,101: @Tree - Good morning my little MIAs!

" Good Morn'n, Forrest ~ no sleep ~ just got up " .. !!

Tree

08/28/24 8:43 AM

Post #320,102

Re: #320,090: @pos_stock_hoarder - https://assets.amuniversal.com/96671cf03aef013d675d005056a9545d

LOL!!!

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Ihubber's FUN House (FUNHouse)

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