When we look back at things in retrospect, we see so many signposts
along the way, but we refuse to acknowledge the reality because the
price is what drives.
So many people.
This is not something that I say very lightly, the sad truth of it is
that supply and demand do not control this Market.
It is the the trading on comex by a handful of very wealthy and very
nefarious commercial Banks.
January February, March.
Okay, there's the end of quarter one and so you can see that, hey,
this was a big deal for the commercial Banks and that coincides at the
exact same time with the nickel failure.
So, yeah, I think it is and, and to the lengths, to, which they had to
push this down to cover their short positions, because the shore,
Positions that concentrated short positions in silver are larger than
any commodity ever traded ever on the comex and gold is gold and
platinum or beneath silver.
But the silver concentrated position alone makes zero sense where for
banks can have control.
Fifty sixty seventy percent of all the derivatives on the entire
silver market and they're all on the short side.
So they're holding down pushing down, see the commercial or the manage
money comes in and pushes up the price.
Ice.
It's very dangerous to short something in a rising price, unless you
have enough money to overwhelm The Lawns, and that's what the
commercial Banks, do unlimited money.
And so they came in after everything, dictated Rising prices and they
stepped on it.
With with vengeance, look, you go back.
10 years.
You've never seen anything like this.
They step on it with vengeance to drive the price down and that
created capitulation to the management that they just said screw it
already.
And they went
Short.
And they sold all their long positions.
But in this game, remember, I always talk about the commitment of
Traders report that has two sides to it.
You have the this new group that we talked about the the the others,
but in particular it's the hedge funds and the manage money of the
hedge funds, go long, the man, the commercial Banks go short, if the
hedge funds and manage money, go short, the commercial Banks go along,
you have two sides to the table.
And so basically the manage money went way long.
Long into an environment that would dictate it.
Their clients were probably saying get me gold exposure, you know, do
it by goal and the manage money drove the price to Gold's all-time
high.
The commercial Banks were taking the opposite side of that trade and
shorting the rising market with vengeance until it fell and collapsed
by 40 freaking percent.
It's not how gold should behave right now.
And everyone say, you know what the heck is going on with gold Falls,
40%.
And this environment, well here's the reason why
This is a complete disconnection from the retail Market, which is
blowing up because people see through it.
Now, the question is always been, can they do this forever?
And I would argue with the things that we've talked about in
particular with the brics Nations moving away from the dollar and and
the potential that that actually has on all of the US markets and the
US dollar and Saudi Arabia.
Now, contemplating joining the brics Nations which is a
Big deal.
I mean we've been talking about Saudi Arabia forever and now they're
talking about joining the brics Nations, this is a very big deal and
so I think they're realizing that it's a.
It was once very easy to suppress the price of gold when everyone
wanted dollars and dollar base assets.
But in a world where the dollar is being shed globally, quietly,
preemptively, proactively.
This is becomes a game that can put you out of business like that.
That.
And this is what almost happened.
As I mentioned to you last week, about the nickel failure, the way the
London Metal Exchange, in most of these markets are supposed to work.
Like the CME is that?
If a Trader, if I'm a traitor and you're my broker, and I place this
massive short position that blows up and I can't cover it, you're
supposed to, and if you can't cover it, all of the members of The
Exchange are supposed to.
This was such a big deal that they just said, screw it.
All the trains are canceled, that's a default that basically.
There's the exchange of Fraud and I think they realize that gold and
silver are much bigger than the nickel market and and have a much
greater implication as it relates to the US dollar and to their own
existence than the nickel Market did.
This is not something that I say very lightly, the sad truth of it is
that supply and demand do not control this Market.
It is the the trading on comex by a handful of very
Wealthy.
And very nefarious commercial Banks.
Yeah, so, you know, in the client wants us to talk about it, she's a
very, very wealthy lady.
She's a billionaire and she went to her bank and was more or less
locked into a room for hours.
And it took two and a half days and threatened, she had to threaten
them with going to The Regulators for them to release her 50 million
dollars.
She sent us a wire 450 million dollars.
We've done almost 7 billion in sales.
You guys
in 33 years and the biggest sale I've ever seen in my career one-time
sale was 9 million dollars.
And, you know, we did almost 600 million dollars in sales.
Last year, we had the biggest sale we did.
Last year was maybe four or five million dollars.
We do big sales but nothing like this.
I talked to people who've been in the industry for 50 years and
they've never seen anything like this a 50 million dollar sale and she
claims this is just the very beginning.
That she bought now the one Saving Grace.
Why?
We weren't completely wiped out of inventory.
And I wiped out half of the industry and inventory is because she only
wanted American-made points and
There are reasons behind that that I won't really jump into at this
point, but let's just simply say she wanted only silver American
Eagles didn't care what the premium was.
Now think about this.
She bought all 900,000 Silver Eagles at a 12 dollar premium.
Do the math.
How much premium she paid either.
I cleaned out every distributor almost seven that I could find.
We had 90,000 stock, they're all gone.
I cleaned out every distributor I could find and took their
allocations into August and then the rest of it was in pre-1965, junk,
silver.
Cleaned out everyone that I knew in 33 years it had a good
relationship with.
I called them and said, give me everything you had.
I mean, it was a hoot.
I sat at this desk for two days and did nothing other than call.
Everyone, I know and say I'll take it right now and everyone said the
same thing, okay, but do you have the money?
Can you send me the money?
Yeah, I said I got it.
I'll send it to you and, and then she put 25 million dollars into
gold.
Now, had she not done that?
Had she said, I'll just take all the silver, you had.
It would have wiped out my entire inventory gone.
And I
I would then had to wait until I get new stuff in.
This should underscored the fragility of the of the retail Market.
When we look back at things in retrospect, we see so many signposts
along the way, but we refuse to acknowledge the reality because the
price is what drives, so many people and it's the price I get it.
What have you done for me lately?
It's the price.
That is the ultimate tool of misdirection and you can see that in the
OCC chart.
That they use those huge amount of derivatives, huge amount of
Firepower to control the price because the demand is off the charts
and whether it be on the big institutions, like the central banks or
the commercial banks for the retail investor, the demand is huge.
And the only reason that the other half of the world who is, is moving
away from us isn't bitching, is that they're accumulating gold.
We are playing right into the hands of the East
We are holding down the paper price of metals so that they can quietly
D dollar eyes.
If you look at what China has done, just in the few months in the last
six months, I think they've sold a hundred billion dollars worth of
our treasury bonds, you know, so they're not buying our bonds anymore
and and and why would they do, they fear?
We're going to do the exact same thing that we did 22 to Russia.
And so, you know, this is an example of D, dollarization, and maybe
with the help,
Hundred billion in treasuries that they sold their buying gold to
because they realize, I do believe that gold will be part of a new
standard.
It will be part of a new system, whether it emanates from the bricks
or
The West out of desperation, it has to because the mismanagement of
the world Reserve currency would dictate that.
No one will ever believe that ever again, if it's not pegged in
tethered and what better way to introduce a central bank, digital
currency or the distributed Ledger technology than to show the
veracity of gold that is now pledged or pegged to this new system.
Hey everyone is housing distributed Ledger technology even if they
don't believe in crypto
Currency allows well to distributed Ledger.
Technology is good idea.
Okay, fine.
Here's the great way to roll it out and say yes, it is a central bank,
digital currency, we've gotten rid of paper, but look, look at the
Gold backing it.
And I think that is, I think that's part of the plan and why it was
reclassified Tier 1 and, you know, when you look at the banks that
repatriated their gold way back, when I always talk about these
European Banks.
Hungry, turkey, Czech Republic Poland, these are
The European banks that are part of the European Union, but all have
their own currency, they're the ones, wickedly buying gold.
That it's the, the Euro countries that aren't buying it.
The way that the, the way that the rest of the world is they're
hopeful, but when you look at this side of the table, you got the
Euro, you got the Yen, and you got the dollar three, bankrupt
currencies, and the rest of the world sees this, and I think they are
moving away from the dollar and they're looking at gold as
As a life raft to do it, and they're not complaining about the
manipulated price because they're still accumulating it.