Silver News

The Mission Of The Silver News Surfer Has Always Been & Will Always Be - To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

May Health Wealth And Success Be Yours!


COMEX Confirms Inventory Reports Are Fraudulent!

June 5, 2013 8:31 am est

On a Personal Note…

Just FYI – In case you were not aware – Aside from great advice and good reading… The Silver News Surfer does sell silver and gold also.

Please come back tomorrow for a very important message…

We all know and have read that China is the powerhouse of gold reserves and the information below confirms their intentions. When I tell you to “do what the big money does” – Do it and ask questions later.

When I say “do what they do and not what they say to do” do it now and ask questions later… this is how money is made, wealth is protected and generational wealth is created!

In the wee hours of my research, I stumbled upon a message from posted on SD that confirms the COMEX is a fraud! If you have futures, options or even ETF’s and expect delivery of your metal… don’t hold your breath.

If you want to purchase real silver and gold and you want it stored in an allocated account for you and your family, call me – that’s what we do!

Read the full report below…

The Mission Of The Silver News Surfer Has Always Been & Will Always Be – To Preserve Your Wealth, Protect Your Purchasing Power and Help You To Create Generational Wealth!

May Health Wealth And Success Be Yours!

Eric Weigand

The Silver News Surfer

954-639-3059

Now, onto the business of protecting your wealth…

If it were not important for you to understand, I would not take my time and yours to present this…. Please forgive me, but I hijacked this from SD –

Comex Confirms That its Silver & Gold Inventory Reports are Fraudulent!

How would like to get your bank statement in the mail from JP Morgan or Bank of America and see this disclaimer added at the bottom:

“The information in this account statement is taken from sources believed to be reliable; however, JP Morgan Chase & Co. disclaims all liability whatsoever with regard to its accuracy or completeness. This account statement is produced for information purposes only.”

How would feel about that?

That’s pretty much the equivalent of what the attorneys for the CME/Comex have done by adding the statement at the top to their daily gold and silver warehouse stock reports.  That disclaimer was not in Friday’s warehouse stock report, it was on yesterday’s (kudos to the commenter “anonymous” who discovered this).

The common reaction would be to ask “why now?”  But we already know the answer to that question.  I’ve suspected for a long time that the Comex vault operators lease out a substantial portion of the gold and silver bars that they keep in both the “registered” and “eligible” account designations.

It would be easy income for JP Morgan, a bullion bank who actively engages in gold leasing, to lease out the majority of the bars it stores for delivery – “registered” – and for investors who have taken delivery but keep their gold/silver in JPM’s Comex vault – “eligible.”  After all, in any given delivery month, less than 1-2% of the open interest ever stand for delivery, making it very easy for a Comex vault operator to earn extra income by leasing out gold and silver that it knows it will never be required to produce for delivery.

I am willing to bet a very large amount of money that this disclaimer was put on the warehouse reports starting yesterday as a result of the large amount of gold bars that has been physically removed from Comex vaults, and specifically from JP Morgan’s “eligible” account, since the beginning of the year.  This means that it is highly likely that a significant portion of the remaining gold and silver sitting in Comex precious metals vaults – especially JPM’s –  has been been hypothecated in some form.

For anyone who has witnessed what happened with MF Global and the illegal hypothecation of customer assets, a situation in which JP Morgan is/was inextricably tied, if  you believe that Wall Street is willing to hypothecate the sacred customer accounts but would not hypothecate or lease out Comex gold, then you are either tragically naive or terminally ignorant.

To make matters even worse, I just looked up the Comex warehouse rules with regard to storage and guarantee requirements, and there is not any requirement that Comex vault operators establish “allocated” accounts for the individual customers who have taken delivery – theoretically – of gold or silver from the Comex and chose to “safekeep” it in a Comex vault.  Here’s the link the to rules:  Comex Storage Rules…

Yes, insurance is required, but there will come a time – likely sooner than most think – when there will be a rush by Comex vault customers to take delivery of the metal they have been ambivalently assured is sitting in a Comex vault.  Unfortunately for them, they will receive a notice that will say “see the disclaimer on our website, check’s in the mail.”

Please allow me to help you to understand these implications and more importantly, how you can protect yourself from it….

Call me for a – no obligation – private consultation

954-639-3059

Now, on to the breaking news that matters…

DOUG KASS: This Is A Great Time To Buy Gold – “There is probably no better time to consider diversifying one’s portfolio into a depressed asset class (e.g., gold) than when the crowd is optimistic about a vigorous and self-sustaining global economic recovery and when the world’s stock markets are at record high prices,”

Read More Here 

Major Insider: Time to Buy Gold; The Chinese Want to Make the Yuan Gold Backed – Gold bulls have a rare chance to double up now. Gold bears will have a hard time doubling down from a record profit. Meanwhile, apparently the Indians and everybody else in the emerging markets recognizes a good deal when they see it.

As inflation pain continues to make headlines from high tomato prices in Brazil to the same for onions in India, no emerging market investors have any illusions. Inflation for them is here for the duration. A gold backed Yuan is sounding like a sensible idea.

Read More Here 

Also Read China gold imports to keep growing after hitting record high

And Gold Premium Surges In China – Wise ‘Aunties’ And Wealthy Buying 

And What in the world is China up to? 

Richard Russell – Silver, Gold & A Coming Stock Market Crash – What is the worst possible environment for investing?  The Fed has given it to us — A low interest environment along with an eroding currency.  That’s what we have now.  At present there’s no perfect or even a satisfactory investment position.

You are not safe in bonds, you are not safe in stocks, and you are not safe in cash.  Which is why I choose gold.  It doesn’t bring in income, but it will be around when everything else is in ruins.  And if the whole current house of cards starts to fall apart, chances are that there will be a huge panic to own gold, which is out of the Fed’s and the government’s grip.” Russell had this warning for the silver bears: “Everybody hates silver, and everybody wants to short it.  But keep your eye on silver.”

Read More Here

This Amazing Chart Shows Gold Set For Massive $1,000 Spike – The man who provides macro research and commentary to many of the largest financial institutions and top hedge funds around the world sent KWN an absolutely extraordinary gold chart. “If we are in fact at this major bottom here around the $1,400 level, we should expect to see a roughly 70% rally in gold, which would take us to the $2,300 to $2,400 level.

Those figures may shock some people because the sentiment is so bearish right now, but that’s what we are looking at in terms of a rally in the gold market. The worst case scenario is a summer where gold grinds in a bit of a trading range, which would allow the commercials to get long the gold market for the first time since 2001.  This would allow for another month or two of sideways trading while this massive bottom is being formed in gold.”

Read More Here