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Gold Analyst Warns of Leverage: “There Are About 325 Paper Ounces For Every Physical Ounce Backing It”

December 15, 2015

Gold Analyst Warns of Leverage: “There Are About 325 Paper Ounces For Every Physical Ounce Backing It”

paper-and-real-gold

Back in September Zero Hedgereported that something snapped in the COMEX market and all indicators suggest there was a relentless outflow in registered gold. At that time there were about 202,054 ounces of gold available for delivery. To put that into perspective, Craig Hemke of TF Metals Report points out that just earlier this year there were nearly one million registered ounces available.

What this likely means is that someone, somewhere is requesting that their paper holdings be converted into deliverable physical gold. All the while many a mainstream pundit has declared that gold is nothing but a relic of times past. Yet, despite its purported unpopularity, since the last time the COMEX snapped in September even more registered gold has disappeared.

As of December, notes Hemke in his latest interview with Crush The Street, we’ve hit an all-time low in registered physical metal at the COMEX which has in turn led to a massive amount of leverage.

We’re at an all time low of about 120,000 [ounces of registered holdings].

But yet the total open interest- the amount of paper contracts based upon that declining amount of physical metal – has stayed the same.

Now, there’s about 325 paper ounces for every one physical ounce backing it. In the past that number was always around 10-to-1 or 20-to-1.

…

It’s another one of these data points that we follow that seems to indicate a global physical tightness.

In the full interview Hemke explains what this means for the gold market, as well as why the leverage in COMEX precious metals is significantly different than stock markets:


(Watch At Youtube)

…click on the above link to read the rest of the article…

Financial Strategist: “To Tie The Collapse To Some Date In September Is A Fool’s Errand”

September 14, 2015

Financial Strategist: “To Tie The Collapse To Some Date In September Is A Fool’s Errand”

There are scores of reports and analyses that peg a coming collapse of the economic, financial and monetary systems to the latter half of 2015. And while it is obvious that global stability is on borrowed time, analyst Craig Hemke of TF Metals Report isn’t completely convinced that we can effectively forecast such paradigm shifts the way we used to before the introduction of central bank intervention and rows upon rows of high frequency trading machines operated by Wall Street’s biggest banks.

In a recent interview posted by Future Money Trends Hemke argues that humans operating in free markets no longer carry the same influence as they did during previous events attributed to The Shemitah, Elliot Wave theory or Kondratieff waves:


(Watch at Youtube)

If you plot the U.S. Dollar versus Japanese Yen with a chart of S&P futures you can see them moving in exact one-to-one correlation… this gets back to those High Frequency Trading Machines and the ability of the central banks to influence the stock market by influencing a key factor that these HFT machines follow.

So if our markets now are not a human market… of human emotions and human economic cycles… if they’re not that anymore… then all of this stuff… the Shemitah, Kondratieff Waves, or all of the cycles and all of the Elliot Waves… you can throw it all out the window.

Because, that all relies to a great extent on human beings making decisions. What we’re seeing now is that all of these global markets are… they’re not flat out controlled because that means you’ve got central banks actually managing it tick-by-tick… But they are so utterly influenced by the central banks that are trying to purport this vision of normalcy to keep things going and they’re driven by these HFT machines, there’s no humans left.

…click on the above link to read the rest of the article…

 

 

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