Images of the mammoth twister and the aftermath are below: [Read more...]
*Update: Tornado ripped through Oklahoma City suburbs, 51 fatalities reported, including 7 children from Plaza Towers Elementary
*Update 2: Multiple schools reportedly blown away, Children being pulled alive from rubble at Plaza Towers Elementary, at least 70 children being treated in OkCity trauma center
A 2-mide wide tornado reportedly ripped through Oklahoma an hour ago, and according to Oklahoma Governor Mary Fallin, has directly struck a high population metro area, with high casualties likely.
Shocking video footage of the massive twister and live updates are below:
There seems to be a great deal of the yellow metal heading out of the United States and into certain foreign countries lately. According to the USGS, the United States exported 129 metric tonnes of gold Jan-Feb, 2013. At this rate, total U.S. gold exports could reach 700-800 metric tonnes this year. With the recent take-down in the price of gold in April & May, I would imagine the United States is more than likely going to reach that figure.
If we look at the chart below we can see just who received all this gold: [Read more...]
This is all about a banking crises! Gold and silver are being held as hostages.
The central bankers have their overly-rehypothecated teat caught in the wringer of world-wide demand for physical gold, and they cannot get it out. Their only recourse has been to drive down, crush would be a better description, the fiat [paper] prices of gold and silver so they can “buy” time to acquire whatever physical available to cover their cheating ways.
Ironically, while these financial fiat-wizards are in a panic mode, of sorts, they are able to buy physical at somewhat lower prices and destroy the ability to take delivery for those if-you-do-not-hold-it-you-do-not-own-it paper holders upon demand. “Sorry, but you can only have paper fiat. Didn’t you read the fine print?”
As we have been saying since 35 silver, 1800 gold; 30 dollar silver, 1700 gold; 25 silver, 1500 gold, etc, the issue is not price, rather, and most importantly, it is all about having possession of the physical for which there is an insatiable demand. We have been saying this for many months: keep buying physical gold and silver regardless of price. At some point in time, it may not be available to buy, except at substantially higher prices, or not at all.
Better to be the proverbial year early than a day late.
Short squeeze in progress as silver has gone vertical to $23.40, over $3 off its overnight lows: [Read more...]
Despite ‘crashes’ in the market, the demand for physical silver continues to rise. Buyers are already outpacing sellers by a stunning 50-to-1 ratio. We are seeing the beginning of shortages; but this will only accelerate if Western governments continue with this raid on paper gold and silver.
When Supply & Demand take over…the Squeeze is On!! [Read more...]
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Wondering why the $2.30 plunge in silver overnight took 4 minutes for the algos to execute? 4 consecutive 20 second trading halts per the CME:
- *SILVER TRADING WAS HALTED FOUR TIMES OVERNIGHT, CME GROUP SAYS
- *SILVER TRADING WAS STOPPED FOUR TIMES IN 20-SECOND HALTS
- *SILVER TRADING WAS HALTED IN `STOP-LOGIC EVENTS’, CME SAYS [Read more...]
By SD Contributor Marshall Swing:
Commercial longs added 1,014 contracts to their total and covered 224 net total shorts to end the week with 50.69% of all open interest, a minor decrease of 0.1% in their share of total open interest since last week, and now stand as a group at 66,090,000 ounces net short, which is a decrease of almost 6.2 million net short ounces from the previous week. [Read more...]
Silver has recovered 7% of the price plummet and is now down 2.7% today at $21.60 an ounce. Silver’s weakness may have contributed to gold falling 1% to $1,354/oz.
It is likely that the very aggressive selling in illiquid Asian markets overnight was by a large hedge fund or bank or a combination of hedge funds and banks with deep pockets. Reuters quoted an analyst at a Japanese bank who said that silver’s price falls were due to one “unidentified investor”.
Heavy concentrated selling likely led to stop loss orders being triggered at technical supports – particularly at the $22/oz level. [Read more...]
Precisely as we warned listeners on this week’s SD Metals & Markets, silver was greeted with an epic waterfall smash on Sunday’s Globex, plunging 10% to just over $20/oz moments after the open. [Read more...]
When the Rothchild’s HKMEx was launched in 2011, much of the metals community assumed that the COMEX & LBMA, were they not to outright default, would fade into irrelevance with the advent of the new Asian metals exchange.
Two years to the day after the exchange’s launch however, in perhaps the most glaring evidence of physical gold & silver shortage to date, the HKMEx has announced it will voluntarily cease trading, and all open positions will be closed out and financially (cash) settled on Monday 5/20! [Read more...]
“Nothing is normal: not the economy, not the financial system, not the financial markets and not the political system. The system remains still in the throes and aftershocks of the 2008 panic and the near-systemic collapse, and from the ongoing responses to same by the Federal Reserve and federal government. Further panic is possible and hyperinflation is inevitable. What continues to unfold in the systemic and economic crises is just an ongoing part of the 2008 turmoil. All the extraordinary actions and interventions bought a little time, but they did not resolve the various crises. That the crises continue can be seen in deteriorating economic activity and in the panicked actions by the Federal Reserve, where it proactively is monetizing U.S. Treasury debt at a pace suggestive of a Treasury that is unable to borrow otherwise. -John Williams, ShadowStats
It had to happen. And now it has begun. The very biggest bubble in financial history has begun to deflate. And over the next few months, we expect that deflation to accelerate and morph into a bursting. [Read more...]
The levitating stock markets continue to seductively entrance traders, powering to new nominal record highs day after day after day. No one believes a meaningful sell-off is even possible anymore, thanks to the vast deluge of central-bank monetary inflation. Sheer euphoria has set in as all perception of risk has vanished. This makes these stock markets extraordinarily dangerous, they are truly at topping extremes.
This move, particularly the one-sided 22.6% melt-up in the last 6 months, has bred unmistakable euphoria. Wall Street vehemently tries to deny this truth, but the definition of euphoria is “a feeling of great happiness or well-being, a feeling of great elation”. Does that not describe the outlook for the stock markets today? There are no bears left, everyone is incredibly bullish and expects no material selloffs.
Currently, I don’t think it’s possible for the media reporting and investor sentiment to get any more negative toward gold. But quite frankly, given the extreme negative sentiment, in addition to the numerous other contrarian indicators I’ve outlined in previous articles, I have never in my life seen a market set up technically for a big bull move as gold/silver and the mining stocks are now. – Dave Kranzler, Seeking Alpha
Let’s be clear here, if I thought the fundamentals of the global financial system were improving in a way that was negative for gold, I would go short gold and load up on stocks and junk bonds. No question about that. [Read more...]