You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings.– Professor Wilhelm Hankel, Frankfurt University, The Telegraph… November 25, 2010
I have three music selections for you today. The first one is a real hoot about the TSA… and comes from reader Dennis Miller. It’s a spoof on a Kris Kristofferson piece from 1970 entitledHelp Me Make it Through the Night. This song is headlined Help You Make It To Your Flight. The photos that accompany the music are worth the trip all by themselves. It runs a bit over two minutes… and the link to the youtube.com video is here.
Having spent a lot of time around gifted children during my eleven-year tenure on the board of the Edmonton Symphony Orchestra, I’m always astonished when one shows up at such a tender age as this one. I’ve run videos of child prodigies before… and this one is worth watching/listening to as well. It’s 8-year old Maya Tamir playing the first movement from Haydn’s Piano Concerto in D-major with the Israeli Philharmonic Orchestra. It’s wonderful from start to finish… and I thank reader G.G. for sharing it with us… and the link to theyoutube.com video is here.
If you live in Philadelphia and happened to be in Macy’s Center City at precisely noon on Saturday, October 30, 2010… this is what you heard… and I thank reader Wistar Holt for sending it. Click here… and feel free to sing along, which is exactly what I did.
I mentioned earlier in this column about how low the real volume was in both gold and silver on Thursday and Friday… and how ‘da boyz’ had their way with the market. This is very typical of the way that JPMorgan et al do the dirty.
Talking about ‘doing the dirty’… let me quote a sentence from yesterday’s column… “Because of the way that the open interest numbers were reported in the [preliminary] CME volume report… I’m going to be particularly interested in the final open interest numbers when they become available later this [Friday] morning. It’s too bad that none of this data will be in Monday’s Commitment of Traders report.”
And it was exactly what I expected. What the final open interest number showed was a big drop in open interest in both gold and silver for Wednesday’s trading day. Gold o.i. declined by 15,048 contracts… and silver’s o.i. was down a whopping 9,741 contracts.
There was little in the way of price action on Wednesday in either direction that would warrant such declines, so I’m speculating that this was carry-over from Tuesday’s price drops that weren’t reported in a timely manner by the bullion banks… which, as you know, is one of their favourite tricks when they’re trying to hide their activities. I suppose it could have been spreads being lifted, which would have the same effect. But, regardless of that fact, these numbers won’t be reported until next Friday’s Commitment of Traders report… not the one that’s due out on Monday.
Whatever it means, I’m getting the feeling it my bones that when this ‘correction’ is over… we could see a major move to the upside. Ted has been expecting it ever since CFTC Commissioner Bart Chilton made his big announcement about the silver market being rigged… followed immediately by a succession of lawsuits [now totaling 25] against both JPMorgan and HSBC.
There’s still time to get fully invested in the next major up-leg of this bull market in both silver and gold… and I respectfully suggest that you take a trial subscription to either ourInternational Speculator [junior gold and silver exploration companies], or BIG GOLD [large producers] today, as that will allow you the luxury of spending time this holiday weekend perusing the current issues, with all our best [and current] recommendations… as well as the archives. Don’t forget that our 90-day guarantee of satisfaction is in effect for both publications.
With the Germans buying both gold and silver with both hands, it’s probably a good bet that you should be doing the same. There are only two types of paper currencies: those that are already worthless… and those that are about to become worthless. The German people know this all too well.
That’s it for another week. I hope you enjoy what’s left of it. I’m off to bed.
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