RE:Hemke on the cartel naked short covering
Hemke on the cartel naked short covering
The market data provided by the U.S. CFTC is deliberately sparse and opaque. However, when these Banks are grouped together with other firms that actually seek to provide legitimate hedging and trading facilities, the CFTC categorizes them as "Commercials". And on the Commitment of Traders report surveyed on Tuesday March 10, these combined "Commercials" in COMEX gold were NET short 328,304 contracts.
Each contract is alleged to represent 100 ounces of gold...so...doing the math...as of March 10, these "Commercials" were NET short 32,830,400 ounces of COMEX gold. That means:
• Every $1 rally from the COMEX close of $1660 on March 10 was a NET paper loss of nearly $33,000,000
• Every $10 rally from the COMEX close of March 10 was a NET paper loss of $330,000,000
• And a rally from $1660 to $1690 would add another cool $1,000,000,000 to an already-hefty pile of paper losses.
So, when The Bullion Banks got the inside, secret word of rushed-forward FOMC schedule, they KNEW they had to act fast. If COMEX gold remained near $1640 and then blasted $100 higher on the FOMC news, the "Commercials" would have added another $3.3B in paper losses heading into the end of the first quarter.
Instead, by taking immediate action, The Banks not only reset price $150 lower BEFORE the FOMC news rally could begin, they also were able to cover an untold number of their short positions by taking the buy side of the Spec liquidation selling they had engendered by using all of the same dirty tricks (spoofing, etc.) for which they are currently under federal investigation.
So, look, I could be wrong. Maybe ten years of monitoring and tracking the every move of these criminal Banks has left me jaded and cynical. That's possible. But it's more than possible that, instead, what gold investors witnessed last week was blatant overt price manipulation that was taken by Bank trading desks after they had received inside word of a change in the FOMC calendar.
In the end, for long-term gold investors, what you've just read hardly matters.
Though The Banks may have bought themselves some time and lessened some of their potential losses, it's undeniable that significantly higher gold prices are coming over the horizon in 2020, as the global central banks rush to devalue their currencies by funding the TRILLIONS in government spending that will be needed to overcome the economic devastation of the coronavirus.
To that end, this latest criminal price manipulation effort by The Banks is actually a gift for gold (and silver) investors. Once rational thought returns to the global markets, the economic reality of these ongoing Central Bank actions will sink in. When it does, the demand for gold and silver in all their forms will likely skyrocket.
Hemke, thank you,
the NWO banksters gangsters mafia should
have been taken to court justice and
prison for a long time ago!
What I can say about NWO Satan's banksters evils;
Be sober, be vigilant;
because your adversary the devils walks about
much worse than roaring lions and alligators,
seeking whom they may devour.
Resist NWO banksters mafia evils, steadfast in faith.
Therefore submit to God,
Resist the devils and they will flee from you.
888C.com
God Bless
Amen