• Gold: 1,525.51 -3.03
  • Silver: 17.37 -0.09
  • Euro: 1.113 -0.001
  • USDX: 97.64 -0.647
  • Oil: 53.65 -1.71

Whirlybird Janet

Andy Hoffman
|
Friday, March 14th
SilverSeek.com Comment Wire

With a potentially tumultous weekend coming - let alone, next Wednesday's FOMC meeting, when "Whirlybird Janet" will be under signficant pressure to "pause" the taper - PM's have surged to their highest levels of the year.  The Crimean referendum takes place Sunday, and it's a fait accompli that it will vote to secede from the Ukraine and join Russia.  The U.S. has made it clear this is not acceptable, so the odds of a military confrontation are sky high. 

 

Equally ominously, U.S. consumer confidence "unexpectedly" plunged, whilst foreigners sold more Treasuries last week ($104 billion) than any week EVER.  Throw in the comical negative PPI reported this morning, and the stage is set for expectations of more QE to take center stage.

 

The Cartel is desperately attacking with a typical "cap of last resort" attack at 12:00 PM EST - for the second straight day, doing so just as gold rose by its usual upside cap of 1.0% - while silver has been taken down from a $0.57 gain to $0.17 - also, just like yeseterday - in cotinuing its pattern of at least a 2% intraday decline on an incredible 60% of all trading days since the beginning of 2013.

 

PHYSICAL silver demand is exploding, causing the Mint - for the first time, during a non-crisis situation - to ration silver Eagles, and mine production has now flattened out.  Meanwhile, COMEX registered gold inventory of a piddling 637,000 ounces hasn't changed in nearly two weeks, despite some 500,000 long contracts still awaiting delivery!  Something  BIG will have to give soon in the PM markets, and we assure you, it will be the Cartel on the short end of it.

 

 

Andrew C. Hoffman, CFA

Marketing Director

Miles Franklin Ltd.


 

ahoffman@milesfranklin.com

www.milesfranklin.com

 

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