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Citi Sells All USD Positions Fearing “Squeeze”

August 27, 2014 8:43 am est

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!

While the US is being distracted by magic numbers again, such as the Durable Goods exploding well over estimates, the fact is that Durables Goods, Excluding Bumper Boeing Orders, Suffer Biggest Drop Of 2014

But nonetheless, as US investors are being distracted, Shanghai Silver Warehouse Stocks Fall 24% In One Week… Why? Because they want what they bought… SILVER! Unlike here in the US, where a vast majority of the contacts are settled in something they didn’t buy… CASH!

The Time Is Coming…

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Overnight Monday, The CME Group Inc., the world’s largest futures market, halted all of its Globex electronic trading markets, including gold and silver, for four hours due to a “technical glitch.” What was the glitch? Gold & Silver were going up!

Yesterday I saw that Citi Sells All USD Positions Fearing “Squeeze” which says alot about where the USD is heading. Couple that with the story I wrote last week about George Soros taking his biggest put in history against the S&P 500 and you have a recipe for disaster!

I don’t know about your neck of the woods, but where I’m from it feels like  the $5 Bill the New $1 Bill? – Everything that could be purchased with one or two dollars not that long ago is now $5 or even $10 and its not going to stop there. That’s how hyperinflation works… A little at a time, then all at once!

If you can understand and grasp half of that story, then you understand why we keep talking about the NEED to acquire silver. First of all, you nor I can do a damn thing about it… either pay up or don’t buy the product and secondly, is the distorting facts from the FED…

Why S&P 2000 Is A Fed Manufactured Mirage: The Chart That Says It All – The fruits of these distortions are evident in the graphs below. An economy that is not creating breadwinner jobs, gains in real household incomes and real increases in productive assets is not remotely worth 20X earnings.

It is only a matter of time before another black swan event like the Lehman bankruptcy shatters confidence in the Fed’s con game, causing the pleasant undulations in Lance Roberts’ chart to give way to another dizzying plunge. To be sure, the Fed is a serial bubble machine. But even it cannot defy economic gravity indefinitely.

Read More Here

Now onto the breaking news that matters….

Expect Skyrocketing Gold As China & Russia Continue Buying – The Russians buying gold is another indication that the Chinese have a major bid under the gold market. The Chinese have told the Russians, ‘You are going to be OK buying gold here because we have put a floor under the market.’

The Chinese are working closely with the Russians because they need their resources and the cooperation of the Russian military.  So China wants Russia to be in a strong position and that is why China has advised Russia to buy gold.

This doesn’t mean that gold is immediately going to move up to $2,000, but it’s the strongest indication we’ve had that the Chinese have a major bid in the gold market. This says to me that we have ridden out the worst of this pullback in gold.

These are certainly not the conditions that Goldman Sachs thought we would see in the gold market. So, yes, there is a ‘Chinese put’ in the gold market that will prevent us from seeing much more downside in gold.

Gold is going to be part of the new monetary system. There is no doubt about that.  This will involve a basket of currencies, including gold. So we are living in exciting times, and we are seeing this transition unfold. This is why the countries in the East, including Russia and China, are accumulating so much physical gold. They know what is coming.

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HUGE: A Momentous September: The Price Discovery Mechanism Is Also Moving From West To East With The Metals – Shanghai Gold Exchange will be opening up bullion trading to international investors on September 26. China is striving hard to internationalize their currency, and as well, remove the pricing privilege in markets, which the West has monopolized so far. This is a very bold move, and part of their larger plan to make China a bullion-trading hub.

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Ted Butler Shows Us How The Coming Silver Bubble Will Develop – In this article, precious metals market analyst Ted Butler (www.butlerresearch.com) explains his vision of how a silver bubble is going to develop.

Contrary to the mainstream view, Mr. Butler believes that the silver peak of 2011, when spot silver intraday touched $49 per ounce on May 1st 2011, was only an intermediary peak. In other words, the real price explosion lies still in front of us. Of particular interest is the role of the ongoing silver price manipulation as a key driver in the creation of a bubble.

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What’s worrying millionaire investors? The Middle East – Wealthy investors have grown more pessimistic about the economy this summer, with many citing crises in the Middle East and Ukraine as potential hazards. The main reason: Trouble in the Middle East and Ukraine.

When asked about news most affecting their economic outlook, the largest number of millionaires (49 percent) cited “international problems.” That was followed by “the political environment” and “unemployment,” which ranked far behind at 8 percent each. News about the overall economy was cited by only 6 percent of millionaires.

Read More Here