In interest rates start to really Spike, not at the hand of the FED,
but at the hand of the market and things start, to really get shaky as
I think we will see, then I think you'll see what I mean.
We are seeing, you know, we haven't talked about the others for a
while.
This group of manage, money hedge fund, excuse me of family offices or
Sovereign, wealth funds.
We've talked to at length about the role they've had over the last few
years in proactively pulling metal off of the exchanges.
And and this last reporting month for deliveries into the August
contract has been incredible.
We saw
Um this year a total of our this this month a total of 100 and 3079
contracts delivered or had million three hundred and seven thousand
nine hundred ounces of 321 metric tons of gold delivered off of coal.
Next to these other reportable 's this month, extraordinary amount and
it's interesting.
We've also talked about how they
The commercial Banks again all talking about doing things before
everyone runs out the door.
At once the commercial Banks seem to not only have as we've talked
about have they dwindled down their short position to the lowest level
in the history of the comex.
It seems that they're also trying to take possession of metal and
doing it in a way that somewhat little bit more clandestine.
If we look at the numbers out of Estelle V.
In terms of what they've delivered out of SL beep, it's remarkable 20
million ounces.
This
Weak or delivered off of sld, 60 million over the past month and 100
million over the past four months, coinciding with the drawdown in not
only their short position but also the price of silver.
And it's truly remarkable how the commercials have rigged.
The silver prices lower over the last five months to achieve.
What is such a stark contrast to the positions that they've had for so
long name?
Only the smallest short position they've ever had in the history of
the market.
It's it's very very bullish backdrop right now and the big money seems
to be aware of perhaps how important it is to get out in front of the
crowd.
Also, I think it's worth mentioning.
We've talked a lot about the gold to Silver ratio.
And people who have purchased silver, ultimately with the intention of
owning gold.
I want you to understand how fast it can really move, just in the last
week alone.
We've seen the ratio Fall by almost
Seven points in favor of silver was 94 to 1 and now it's roughly
eighty six to one.
So when silver starts to move it will be in a magnificent fashion in
terms of
Speed in which I think it will try and catch up to gold as it's been
lagging and underperforming.
But I think the thing to take away from this is in looking at what the
commercial banks have done and looking what the the other reportable
Czar doing, you're seeing a real strong push right now in concert with
a drawdown in the short position to take delivery.
I don't know if that's a whole lot more bullish to what I've been
saying about the likelihood that the commercial banks have set a trap
for
or the hedge funds and are waiting for the price to rise only.
Not too short at this time, to let it go higher and maybe this is why
they're taking huge deliveries off the exchange right now and back
door and things out of out of SLV.
I just think the hour is drawing nearer to to us being right?
And you know it's fair to admit in some respects we have in, right?
And others, we have been early and I don't know if that means being
wrong but to a degree, maybe it does.
But I think this is one of those deals.
Where you have to be early if not you'll be very lucky that you timed
it, just right.
There are too many factors I think against us right now such as the
inability to pull money.
Swiftly out of our accounts, the inability of these Financial
intermediaries to cooperate or to not lose the check that we said and
the ability to get product while big money is front running delivery
when no one's looking.
So, I would just simply say that from a, when I take a step back and
look at this from a macro perspective,
Of, in the light of everything that I've been talking about, I just
see things accelerating and accelerating very quietly, very, very
privately behind the scenes but they all seem to support the same
thing.
And that is a widening.
Awareness of the need to be dollar eyes to the leverage to take
physical possession, or remove counterparty risk, and to do all of the
things that are so important.
I think if you wait and they're trying to
To achieve this at just in time at the 12th hour, there's a 50/50
chance or better that it will fail just based upon how much things are
accelerating size of orders that were seeing and and the movements of
the commercial banks in this case.
So interesting times to say the least out again, and I think we are
going to continue to say that things are just becoming more and more
interesting and and and
More and more rapidly changing.
The the way things are unfolding and I don't know when you look at
what's happening with all the central banks moving away from the
dollar, only speeding things up.
I have a feeling that this fall is going to be a pivotal time in this
industry, maybe maybe more interesting, more exciting and more
challenging than anything.
We've seen yet over the last,
Two years, which would be hard to hard to top but the things that I
see now are much more significant than the things.
We've had to deal with in terms of the pandemic and all of the
challenges that have personally I think this is going to broaden into
a much bigger deal as it pertains to the dollar to the markets and to
the D dollarization by the biggest money in the world.
So I don't know.
Time to time to buckle up.
I think time to button things down and get your house.
In order, you can see a lot of the big money is doing that ahead of
the curve.
The one of the things that I think is made me successful as a business
man is not, is being able to see things that are coming.
That are not right in front of your face, then of all you do is stare
right in front of your face or a first, for skiing terminology, you
never supposed to look at the tips of your skis.
You're supposed to look way out in front, 20, 30 feet ahead of you if
you don't do that, you end up.
I think you end up not making the right decision.
And so, all of the things that I have talked about regarding product
in the availability, or the lack thereof, defining this Marketplace,
I'm looking not at the tips of my skis.
I've said that for a while now that yeah, people can think I'm talking
my book, but I say it to you because if we see a major influx in
demand, by the public at correlating with draw Downs, in equity values
and and people leaving
01 K is leaving IRAs, getting out of the market, taking control of
their funds and looking for a safe place to put it.
It won't take very much to completely disrupt this entire ecosystem.
And that's really what people need to understand.
Yeah, it's available.
It has been available at much, higher premiums, and much more
difficulty getting it.
And yet, I don't think we've even begun to broach the mainstream.
Yes, we've expanded into a larger segment of the population who's
interested in Precious Metals but it's
A small market place.
And I really I stand behind what I'm saying.
That John Silver is emblematic of everything.
You're going to see in this market, look at the u.s.
mint.
Why, why in the heck would they tell us that they are decreasing
production of gold per products by 50% in the second half of 2022?
When really most people buy silver?
I mean now they're making it difficult to buy gold and if the US Mint
runs out of product like
gold Eagles or premiums have already member.
I told you I expect premiums to rise their up as much as I can $165
over spot in almost every country company in America and then some and
I said this a few weeks ago, so that's going to pull up all of the
other goal items you already beginning to see it happen.
Does that mean that product is disappearing?
No, it's still available.
But I will tell you that if the u.s.
Mint and the price of the gold and silver eagles are any even
Only close to what I expect ultimately to happen on a broad skill.
Yeah.
You ain't seen nothing yet and I know I've gotten heat for it and I
openly understand then I get it.
It's really hard to try to be objective and let people understand
that.
Yes, I run a business.
Yes, I want to sell metal but I am not in the business of lying to
people to get them in the front door.
That's that's not the way to do it.
I'm being dead serious.
I think it's going to be it's going to be a very big deal when the
people who have
Never even thought about buying gold but have heard it from their
friends and all those people start running to buy when the market
starts to Crater because maybe Saudi Arabia decides, we are going to
join bricks and open up oil purchases to other countries in the dollar
starts to come home, all those dollars, and inflation picks up and
interest rates start to really Spike.
Not at the end of the FED but at the hand of the market and things
start to really get shaky as I think we will see then I think you'll
see what I mean because
See if five percent of the people out there with with managed accounts
or what not, say my gosh, where do I go?
And look to Metals I mean in the blink of an eye it's it.
You see how hard it is to get junk silver after we do this one, very
large sale where we cleaned out all the junk we had and that of most
companies around.
But what happens, if it, if that client only didn't care what that
they bought and what we're happy to buy any of the volume items we had
and we sold out of
Three million dollars worth of gold and silver bullion products.
And then what?
Now we're going to wait, two, three, four weeks to get more stuff in,
and we'll probably sell that before it's delivered.
And it just, it's a cycle that's very fragile and, and I see it all
based upon an increased, an increasing Demand by the mainstream and
increasing awareness.
And when that really takes hold, yeah.
Everything's going to be like John Silver.
I do mean that and we are reliant upon six, major mints of the world.
Four of which are across the Atlantic one of, which is the absolute
epitome of inefficiency, the u.s.
mint, and the Canadian men's not far behind.
So, you know, it's walking, a tightrope, and I were fortunate that
we're high up on the food chain, and have good relationships, and pay
fast and are able to get product, keep coming in the door.
But I don't see that being something that last long.
If all of a sudden, we see a massive influx from the mainstream as
they are awoken to
What can happen in an interest rate Rising environment when you're
looking at assets inversely priced against them.
And when they really see things start to fall, not just cross fault
30% and then hang in there.
But I mean really fall in the face of massively Rising, interest
rates.
That's when everything like that disappears.
You have to be in the door first, like these commercial Banks and
these manage Money traders.
The others that are taking all of this metal before.
That happens, huge amounts.
Million ounces in a month.
I mean that to me is very, very significant and bears.
I think keeping an eye on because they always lead lead the charge and
the big money is indeed would appear front running this when you put
it in conjunction with the massive drawdown in the short position of
the commercials how bullish that really is, it even becomes more
bullish.
When you see, how much metal is being taken off the exchanges?