The villain fox that kills ducklings is the hero fox that feeds its kits. No right or wrong in (the rest of) nature - just consequences. I was top-heavy silver, bought more Friday, more this morning. My version of Belichick "just getting ready for Cincinatti" is "5 year strategy, 5 year tactics" (my panic-managing mantra).
Wisdom is garnered from often-painful experiences studied, sifted out from emotion and articulated.
Yeah this whole engineered smash makes me angry. It was very controlled and constant so as not to trigger halts in trade for hours on end. I guess. China will start mopping up the floor with prices lower.
The day of reconning when the physical smashes paper is coming. They just delayed it a bit so some fat cats could get out from under their short positions. (Probably on the too big to fail list)
Why put silver on the critical mineral list for the USA then smash the price and send even more to the far East?
I think $120 was a critical number. it had be stopped. Where it is now isn't the point. Gold and silver had to be stopped. This is the beach after the storm... I have no clue what happens next.
I owe you an apology Rick. I didn't read the substack in detail util this morning and I made an ass of me by assuming the lease was done in january and not expiring in january. I covered ICBC for several years and at the time they traded enormous quantities of silver with us. So for them to do a deal like that with JPM the counterparties would probably be ICBC London ... sounds well within the realm of possible.
I have not, Rick ... That would fit with the massive selling in SLV last week...They'd need it to create shares and short interst in SLV was 62.5 million on Thursday... hard to borrow another 128, 000,000 shares so having 4000 tonnes solves that. ....
It doesn't fit with Comex open interest. 4000 tonnes is about 25,500/ 26,000 lots and OI is down 14 k since last Monday.
China would not lease it for free.. leasing is going to be expnsive and onces leased metal is sold it is short metal.... JPM will need to be nimble to get it back if in fact it's true. ..have a look at the evening wrap tonight. Seeing signs of support here.
I guess the question is, who is buying all the silver at these newly depressed prices. would an arm of the government step in (it's strategic after all) and take advantage of the move? wouldn't that be another sh*tstorm if it did? I'm with Tom here, the fundamentals remain the same, and the real buyers still need the stuff
Thanks, JJ. I'm old enough to remember when US futures had limits. The horror stories were about markets locked limit for several days in a row. I'm also old enough to remember that customers were often given three days to meet a margin call. You know, the cheque's in the mail!
Hi Petra... I think they received 633 lots of deliveries which are a typical DVP conclusion to a transaction priced on the exchange at a previous date. So yes they did take in 63,300 ounces of gold (was it gold? if it was silver still small at ca 3 mm toz) ) but that is a very small quantity. I think the rules and reg agencies are the big problem.
"I like XXXXXX so I don’t look at it every day wondering what I think." and "It’s not up to the T-Rexes to be fair." Two more great lines for the JJ Pyramid of Trading Greatness (https://www.youtube.com/watch?v=mIoSV-obhu4&t=7s)
They can’t crash the stock exchanges anymore due to the 0 Day Casino and, well, math, so instead we get gold, silver and BTC being used as the “Gimp” from Pulp Fiction. Jamie Dimon and Larry Fink licking their lips as they await their turns in the back.
GM OBC, I'm trying to avoid mixing Epstein with bitcoin if I can help it.... but ty for keeping an eye out for me. I have a tin ball cap because I prefer a visor the cut the glare...
Pardon the question from a non-trader but what are the mechanics behind how silver can drop so precipitously in one day. I've been reading JJ's commentary but am unfamiliar with some of the terminology. Are the big banks spoofing sales to cause a drop? In future, how to know this in advance? Thanks for any understanding you may be able to provide.
The villain fox that kills ducklings is the hero fox that feeds its kits. No right or wrong in (the rest of) nature - just consequences. I was top-heavy silver, bought more Friday, more this morning. My version of Belichick "just getting ready for Cincinatti" is "5 year strategy, 5 year tactics" (my panic-managing mantra).
Wisdom is garnered from often-painful experiences studied, sifted out from emotion and articulated.
Thanks again for your wisdom!
"The villain fox that kills ducklings is the hero fox that feeds its kits." Like it!
Yeah this whole engineered smash makes me angry. It was very controlled and constant so as not to trigger halts in trade for hours on end. I guess. China will start mopping up the floor with prices lower.
The day of reconning when the physical smashes paper is coming. They just delayed it a bit so some fat cats could get out from under their short positions. (Probably on the too big to fail list)
Why put silver on the critical mineral list for the USA then smash the price and send even more to the far East?
I think $120 was a critical number. it had be stopped. Where it is now isn't the point. Gold and silver had to be stopped. This is the beach after the storm... I have no clue what happens next.
No doubt they were going up too fast.
JJ have you hear anything about China leasing 4000 tons to JPM?
https://open.substack.com/pub/no01/p/the-aftershocks?r=vnnx8&utm_medium=ios&shareImageVariant=overlay
I owe you an apology Rick. I didn't read the substack in detail util this morning and I made an ass of me by assuming the lease was done in january and not expiring in january. I covered ICBC for several years and at the time they traded enormous quantities of silver with us. So for them to do a deal like that with JPM the counterparties would probably be ICBC London ... sounds well within the realm of possible.
I appreciate you reading it further. I don’t mean to bog you down with too much info. Thank you for your replies and good work.
I appreciate you helping me... ty sir
I have not, Rick ... That would fit with the massive selling in SLV last week...They'd need it to create shares and short interst in SLV was 62.5 million on Thursday... hard to borrow another 128, 000,000 shares so having 4000 tonnes solves that. ....
It doesn't fit with Comex open interest. 4000 tonnes is about 25,500/ 26,000 lots and OI is down 14 k since last Monday.
China would not lease it for free.. leasing is going to be expnsive and onces leased metal is sold it is short metal.... JPM will need to be nimble to get it back if in fact it's true. ..have a look at the evening wrap tonight. Seeing signs of support here.
I guess the question is, who is buying all the silver at these newly depressed prices. would an arm of the government step in (it's strategic after all) and take advantage of the move? wouldn't that be another sh*tstorm if it did? I'm with Tom here, the fundamentals remain the same, and the real buyers still need the stuff
Exactly ... There's no physical here. if there wre ounces to be had they on a plane to China...
JJ… damn … you’re such a pleasure to read… “The obscure we eventually see. The completely obvious, it seems, takes longer..” Cheers
Cheers Paul, ty sir.
Thanks, JJ. I'm old enough to remember when US futures had limits. The horror stories were about markets locked limit for several days in a row. I'm also old enough to remember that customers were often given three days to meet a margin call. You know, the cheque's in the mail!
Hi Victor, yes sir... let's have lunch! haha
The 633 Lots JPM (and only them) was covering on friday - at the exact bottom - is all over the place. What is your take on that?
Hi Petra... I think they received 633 lots of deliveries which are a typical DVP conclusion to a transaction priced on the exchange at a previous date. So yes they did take in 63,300 ounces of gold (was it gold? if it was silver still small at ca 3 mm toz) ) but that is a very small quantity. I think the rules and reg agencies are the big problem.
Was listed as (c) client activity
Might have been linked to the management of some of the short based ETFs and the reduction in OI they had when they snapped at 1.24 est
Thank You Jay ❗
Its a game. Everyone is playing. Only a select few have a controller.
“ If powerful forces in the markets can put silver down 40% in a single session, they can try to save bitcoin.”
Let’s remember this one.
It could prove invaluable over the coming couple of quarters….and Beyond.
Excellent write up. Cheers JJ
"I like XXXXXX so I don’t look at it every day wondering what I think." and "It’s not up to the T-Rexes to be fair." Two more great lines for the JJ Pyramid of Trading Greatness (https://www.youtube.com/watch?v=mIoSV-obhu4&t=7s)
They can’t crash the stock exchanges anymore due to the 0 Day Casino and, well, math, so instead we get gold, silver and BTC being used as the “Gimp” from Pulp Fiction. Jamie Dimon and Larry Fink licking their lips as they await their turns in the back.
Someone got a raise for this one. Trust me.
The great birds of prey say "but we love the little lambs, they are so delicious." Nietzsche
Epstein said in one of his emails he’d ’Been in touch with the founders of bitcoin’.
If true, real Hydra.
The email is verified.
And in an email to Peter Thiel he says ‘you know I represent the Rothschild’s’
I guess the tin hats were right all along!
GM OBC, I'm trying to avoid mixing Epstein with bitcoin if I can help it.... but ty for keeping an eye out for me. I have a tin ball cap because I prefer a visor the cut the glare...
Good morning Alyosha!
Yes it does all start to feel a little too on the nose
https://youtu.be/5WvMb1cTwvs?si=L9WvVz9cE16He9AD
On another Substack I just dropped a note saying:
"Please don't spoil my little CT, during C19 Scam I've ran out of all of them!"
What is CT?
Conspiracy Theory
Apparently Saylor is in at around 76k. https://coinmarketcap.com/charts/bitcoin-treasuries/
Pardon the question from a non-trader but what are the mechanics behind how silver can drop so precipitously in one day. I've been reading JJ's commentary but am unfamiliar with some of the terminology. Are the big banks spoofing sales to cause a drop? In future, how to know this in advance? Thanks for any understanding you may be able to provide.