Everything But Commodities Is In A Bubble!

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submitted by J. Johnson via JS Mineset

Great and Wonderful Tuesday Morning Folks,

Gold is trading at $1,557.20, down $3.10 after dipping down to $1,551.80 with the high at $1,568.80. Silver is following along with its trade down 7.3 cents at $18.00 recovering from a low of $17.92 with the high to beat at $18.155. The US Dollar is also trading lower with its value pegged at 97.26 down 9.9 points after hitting a low of 97.225 with the high way up at 97.42. Of course, all of this already happened before 5 am pst, the Comex open, the London close, and after another weekend of peace and quiet regardless of the media’s attempt to stir up hate against law abiding gun owners.

Our emerging markets currency watch is all over the place today since we had a holiday and nobody else did. For instance, Gold under the Venezuelan Bolivar is showing a loss of 15.98 with the current trade at 15,552.54 Bolivar with Silver 179.775 Bolivar showing a reduction of 0.949. Gold, under the Argentine Peso, now has a price of 93,437.04 Peso’s proving a gain of 80.11 with Silver at 1,079.98 A-Peso’s showing a loss of 3.69. In Turkey, Gold’s value is now priced at 9,240.52 Lira showing a gain of 75.03 with Silver at 106.813 showing a 0.401 T-Lira gain.

January Silver Delivery Demands are showing some intrigue as the count increased from 52 to 73 fully paid for 5,000-ounce contracts last Friday and with zero trading range and volume up on the board so far this morning. Friday’s additions had no prices posted on the board as well, so if we’re to use Comex Logic, a spread trade was either entered into or exited out of to create this No-Price-Demand, because (as Comex reps claims) trades with no price are spreads and spread prices are not necessary. This is where we have the biggest problem at the Comex, were these no-price-trades an additional 73 to be added or?

Silver’s Overall Open Interest is now at 236,210 Overnighters showing an additional 783 Obligations had to be added in order to stay the price with only 7,986 more pieces of paper away from making a new life of contract high in paper, not price. Gold’s Open Interest is now at 794,699 Overnighters proving a gain of 608 since Friday’s numbers showing what paper can do to the fair price mechanism that used to be in our markets.

Our Resolute Buyer came in and did his thing over the last 2 trading days. We’re still at odds with the Open Interest in both precious metals, at the same time the Federal Reserve is pumping out cash because there seems to be none in liquid form, unless they start clearing Treasuries. How much longer we have to go, will be defined by those that are required to locate product at these prices, as they find it more and more difficult to do so. Especially if the Resolute is a manufacturer with a constant and continual demand so they too, can stay in business.

Bill Holter’s latest article points to the issues everyone, under the US Dollar, has right now even though they don’t know it. Everything but Commodities is in a bubble! When that corner turns, it won’t be pretty at all. In fact, food, energy, and clothing prices, are all super cheap compared to the things one doesn’t need to survive. This turn will occur when the Dollar goes south.

We hope you are prepared. Hang on tight to the real and fear not. Paper is worthless, precious metals are the opposite. Enjoy the day, keep a positive thought in the head and a smile on your face, and as always …

Stay Strong!

J. Johnson

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