Harvey, any place you recommend where I can learn more about the notices served and the OI calculations you do? For example I do not get how you deduce the bullion banks are covering shorts from the increase in open interest when the price went down. Or how you question the possibility of the exact amount of bullion bars being delivered by Scotia. Thanks for the informative commentary. I took a small position in silver (PSLV) as I wanted the physical and thought it looked to cheap to be true fundamentally and when looking at the cost of production for the average silver miner. Upon further analysis there seems to be a lot more to learn both politically and practically.
Dearest mr Harvey
I really watched ur video about the collapse coming and it’s seems so hard to believe it’s true
Any how I trust u so ur experience and much more than me .
But the things u mentioned about prices expectations by end of this year 2014 is really difficult to be true any more .
Especially about gold and oil as u said gold will reach from 5 to ten thousand Uss and oil around 140 uss , this can be true but not on 2014 it can be true on 2017 or 2018 or even end of 2016 bit end of 2014 I’m going crazy and I need ur real update after Swiss vote with no and after oil drop I think now u have clearer picture and understanding to launch new video explaining to us if your last video was wrong or u insist to be true or give us a maximum time limit when it might be or expected rather than December 2014
Dear Mr. Organ.
Please go on Greg Hunters and get us “Update” on your December Comex Default prediction.
Do you still think it is this month!?
Really appreciate your input ASAP.
All the best.
Please explain COMEX rule 112102.E.:
“112102.E. Termination of Trading
No trades in Silver futures deliverable in the current month shall be made after the third last
business day of that month. Any contracts remaining open after the last trade date must be
(A) Settled by delivery which shall take place on any business day beginning on the first
business day of the delivery month or any subsequent business day of the delivery month,
but no later than the last business day of the delivery month.
(B) Liquidated by means of a bona fide Exchange for Related Position (“EFRP”) pursuant to
Rule 538. An EFRP is permitted in an expired futures contract until 12:00 p.m. on the
business day following termination of trading in the expired futures contract. An EFRP
which establishes a futures position for either the buyer or the seller in an expired futures
contract shall not be permitted following the termination of trading of an expired futures
I’m not native english speaker but I believe this means trading of december contracts is allowed untill second last business day of december. Correct?
Compare to Dubai Gold Exchange:
Last Trading Day Third last business day of the month preceding the Delivery Month
Has 112102.E. been changed at some time in history? It must have been.
I enjoy watching and reading your articles. I am wondering if i submitted your name to a radio talk show in Halifax would you come on the radio. Additionally, I read the report about CME and Comex changes coming S-7258. Could you touch on this in your next report. I would be very curious to read your opinion on this.
Harvey what happened to your big prediction about $200 Silver and $3,000 Gold?
Harvey, I am so glad that you said what you did about the silver December expiration. Even though the default potential did not play out, that is good for me because there are still several friends who need to buy silver or get out of SLV. Keep up the good work.
The tons of gold in GLD has a typo…should be 752 tons, not 952 (last 2 days)
wishing you success in your daily activities,
im a big fan , incredible work you are doing
i was hoping in a way we could communicate
since im in need of some information
and if you have some requirements to communicate please
send it to my email.
I must have missed something. The SLV inventory on 3/6 was 727 mil oz.
on 3/9 it dropped to 327 mil oz…..that’s 400 mil oz drop? Please advise.
Hi Harvey, I sent a short story to your Facebook ID. Please read and respond. Thanks, DSD
Hi Harvey, nice work here. just curious what you think is a good percentage of physical silver to gold. I have heard that a real gold bug would buy silver now, leverage the ratio, and swap for gold later……thank you jeff
Hi Jeff, I agree with what you say about gold bugs. Last November I got a bee in my bonnet and went 100% all in on Silver. As soon as I felt the 70:1 ratio in my back ache I knew it was the right thing to do. Since then I got the jitters and all new saving (100% of new free cash) is going into gold again. It is an age thing. If one is 30 one can afford to wait, if one is 65 like me, one can’t. I can pick up the phone and get good value on any amount of gold that I want to buy or sell instantly. The same is not true for silver, buying and selling silver in the UK requires cunning and lots of work. Effectively silver is highly ill-liquid at the retail level in the UK. Want to buy 3000 ounces, nobody has it, want to sell 3000 ounces, nobody interested has the cash. VAT is the great bugbear here. To get fair value on second hand silver one needs to find a non VAT registered investor who can compare your offer to ‘new’ VAT bearing prices. The problem is that there are almost none (yet). The UK’s largest retail bullion dealer told me that there were not 1000 people in the UK investing more than £100 at a time into silver. This same dealer only handled 340 second hand one ounce coins in six months, I bought them all of course but so far it is pathetic. I have to go for scrap metal and old coins to get the spot price. Ben
I find your blog a great source of news. You are like my news editor, thank you. Harvey I have a suggestion. I think that people like me value your personal opinion, but you rarely give it out. I would like it if you wrote a brief paragraph or longer on your latest thinking about the direction you see things happening. In fact you already do this, but it is just your daily title in CAPS and too brief. Harvey, I would very much value your opinion and comments or corrections upon an article that I wrote about saving in silver, aimed at poor UK people. It is linked by cut and paste of this and also in the ‘my web site’ box:
Best wishes, Ben
I read your prodigious and most excellent report daily. I get it from Pacific Rim Coins in Bellingham. If it takes me at least 45 minutes to read AND DIGEST it, it must take you hours and hours to write it. I get it free and feel that you are an author being cheated out of royalties
How are you able to offer this invaluable information free? Surely the laborer is worthy of his hire…
You indicate that OTC options expire at midnight, July 31, 2015. Please clarify whether that is London time and whether that is the beginning of July 31 or the end of July 31.
Hey Harv.. i grew up near you . dunkirk ny. i LOVE toronto and the food. what a town! and your not bad either!
ps.. been reading you since circa ’07-’08
Harvey, I just watched a YouTube video of you on Market Watch from September 2014. You dogmatically said that by January 2015 Gold would hit $10,000 and silver $200 do to derivative defaults owed to China, Russia and India. We are a year past that time and nothing happened. Help me to know why I should trust your analysis and forecasts now?
What’s the implecations of no gold entering Comex? Can you expand
Harvey, you publish some stuff that is absolute propaganda, but not your propaganda, propaganda to knock oil, gold, silver etc.
Your comment mentioned the flotilla of tankers and the storey specifically stated Galveston. The picture was false, the story was false, as you can easily check how many tankers are not only in Galveston, but en route or even in the Gulf. Not only was there NO FLOTILLA the figures were completely fabricated to knock the price of oil.
Then you publish the IEA mentioning 3billion barrels of oil…..but that 3 billion has been in store for months and months. Because the IEA forces its 27 members to stock 90 days supply of oil.
The EC forces members EC Directive 68/414/EEC of 20th December 1968, all 28 member states are REQUIRED to have at least a 90 day supply on EU territory.
So you add those Strategic Petroleum Reserves up, including USA, Russia, China, India, and you will find the headline story was deliberately contrived to knock oil, because the IEA knows there has been 3.4billion barrels stored by necessity for individual countries and their SPR.
The U.S. though is taking SPR drawdown and not announcing it, then pumping it into the infrastructure and claiming its continued high U.S. production, and Saudi claiming production that is not accurate as it refuses to have figures on exports or production audited.
The same is happening with gold with the whole commodity market deliberately being suppressed in this proxy war.
Sorry to hear that you did not feel good today.
Japanese recipe to cure cold, if that’s why you don’t feel good is to apply one to two drops of Oil of Peppermint ( you could buy it from your nearby health food store ) to a cup of Hot Tea with Honey.
The peppermint oil will start to evaporate which you should Inhale.
It will have a burning sensation in your sinuses, but will kill the Viruses that cause the cold.
Then drink the Tea. A few sessions one in the morning and one in the evening and you should recover in a day or two.
Hope you feel better
Harvey are there credit default swaps for silver short contracts like there were or are for real estate CDOs . I was watching the movie “The Big Short” and the question of whether or not it is possible came to mind. If it is possible what are the pros and cons of such a strategy?
Harvey, doesn’t it seem like the ~$35 drop in gold corresponds to the FOMC meeting, like every month in recent memory save about two??? Tomorrow, when the Fed leaves the interest rate unchanged, gold will rally back up to ~$1370 or maybe a little more, but under $1400.
You may want to consider linking the following web address that shows the Live Gold and Silver prices in both LBMA and Shanghai .
I have it open all the time on my monitor , right now Silver is now around 50 Cents higher in Shanghai .
Hi Harvey, my article updating on the London gold and silver fix lawsuits is now live. Happy for you to share as you see fit
Hi Harvey, I read in one of your articles about the spread US and China about gold, I am from Mexico, how can I sell gold to china and profit with this spread?
Hi Harvey, I go to your site for daily news – thank you!
“I wonder, has there ever been a pogrom of a local chapter of Mensa?LOL! Yeah, round up all those smart people and hang ’em from the nearest la.”wostmpTpo thoughts for you Mensa members:1) There aren’t enough lumpen folks who have heard of Mensa to carry out a half-decent pogram.2) Mensa members haven’t been demonized for two thousand years as Christ killers.
Yesterday, the CME final showed just 922 EFP contracts as the OI shrunk by 24,452.
Today, the CME preliminary shows 1,751 EFP contracts as the OI shrunk by 5,859 to 14,397.
The last 5 trading days shows a total of 7,480 EFP contracts as the OI shrunk by 84,282. Thats not a whole lot of EFP’s being used. Makes one wonder doesnt it?
Thanks for your work, especially re EFP transactions. I looked at the COMEX website and could not find the data re EFPs. Where do I find the info? If you could put some of this info in a table format, that would be helpful. Thanks Again.
Harvey, have been following your work for several years and really enjoy. A few weeks ago you published communication from Andrew Magure and Tom Coughlin ( ABX Bullion) regarding the launch of their new crypto currrency KINESIS. We were led to believe from Andrew that the WHITE Paper would be released imminently ( I think around first week of Feb). Since then silence! Can you find out what is holding it up. You know Andrew was the Whistle Blower about shannigans in the CFTC manipulations and was shunned by DOJ back in 2010-2011 when he brought his complaints to them. I am thinking the hold up in releasing White Paper has more to do with the Cartel , using their Gov’t connections are again putting pressure on this new gold backed crypto launch. Just MHO.
How can you explain that Open Interest does not decrease each time there are new EFP ?
Exchange Futures for Physical… you should see it on the “Futures” is not it ?
I appreciate your work. Please put the EFP info in a format that is easier to follow. I suggest a table that shows each month and YTD. Also, the back and forth between ounces and tonnes requires calculations/rethinking by readers. Also, can you direct us to a public source of info for EFPs. I looked at the COMEX website and couldn’t find it. If you could add some endnotes with links that would be good.
Instead of YTD, I meant to write MTD (month-to-date).
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