Items of interest from Harvey's blog...... and the additional odd precious metal piece or two....

Dave from Denver  (on last nights inventory) the Golden Truth:

There's a lot of statements and quotes from analysts in that article that are incorrect or hearsay from the GFMS, which we know is full of bull excrement, but the total inventory at the Comex is at a relative high. BUT, the deliverable/registered inventory is at a very low level relative to historical inventory. In fact, Just today another 557k ozs of silver was removed from the Comex registered account, taking it below 29 million.

The eligible inventory is at a very high level, more than offsetting the outflows from the registered accounts, although today, ironically, 1.49 million ounces was taken off Comex from the eligible account.

Whether or not the Comex reports total inventory honestly is open for debate. We'll never know until it defaults. BUT, knowing what we know about asset hypothecation and metals leasing, you would have to be an imbecile to keep your silver at the Comex vaults unless you knew that you were going to sell it via shorting futures in the near future. Anyone "safekeeping" silver at the Comex is a complete idiot.

As for anything that comes from the WGC or GFMS, we know that it is extremely unreliable. I never waste time reading there industry analysis and reports and I NEVER EVER waste a single brain cell reading to ANYTHING said by Jeffrey Christian or Philip Klapwijk. Anyone who does is more dumb for having done so.

and.....

Ted Butler on the COT report on silver as JPMorgan covered 6000 contracts from their short side:

(courtesy Ted Butler/Ed Steer)

silver analyst Ted Butler's 

"I would estimate JPMorgan's concentrated net short position in COMEX silver futures to now be around 18,000 contracts (90 million oz). That means we are close to the mid-way mark between JPM's all-time low of 13,000 contracts net short in late December and their recent high-water mark of 24,000 contracts into Feb 28. Back in December, I had predicted that JPMorgan would not increase their silver short position on the next rally, as I had done many times before at important price bottoms. I was wrong this time, just as I had been before, as JPMorgan increased its short position by 11,000 contracts (85%) on the $10+ rally in silver into the end of February. Now JPMorgan has been able to buy back 6000 contracts on the $6 price decline from the recent highs at $37."

"Had JPMorgan not sold short the additional 11,000 contracts (55 million oz) of COMEX silver, the price of silver would have climbed much higher than the $37 mark of late February. How much higher is an open question, but in my opinion, the price would have challenged and probably exceeded the $50 mark, possibly by a wide margin. The reason it's hard to pinpoint a price is because of the profound influence that JPMorgan has on the silver market. For the past four years, JPMorgan has been the short seller of last resort in the silver market and that also makes them the price-capper of last resort."

It is surprising that the world does not acknowledge manipulation in the gold and silver markets yet worry about manipulation in the oil market.

Today I just shake by head in bewilderment with this;(courtesy Market Watch)

Obama sees oil manipulation, vows response





WASHINGTON (MarketWatch) -- President Barack Obama on Tuesday morning will announce a plan to crack down on what the White House calls manipulation in oil markets. Obama will deliver a statement from the Rose Garden on the plan to increase oil-market oversight, the White House said. Energy policy has emerged as a major election-year issue between Obama and Republicans.Read the full story: Obama pushes Congress over oil prices


and.....


http://sgtreport.com/2012/04/free-people-of-the-world-unite-the-use-of-gold-dinars-and-silver-dirhams-goes-viral/

Well friends, things are looking up for free people around the world who value REAL money. I just received an update from reader and physical precious metals stacker Dean Arif, the Program Director of Dinihari Dinar (The Dawn of the Dinar) in Malaysia.

Dean reports that the use of physical gold and physical silver in the form of gold dinars and silver dirhams, has spread from Malaysia to Indonesia and has now gone viral in Singapore, Brunei and Philippines!

Dean writes, “The silver dirham coins will unite the people of this region (Southeast Asia) as the dirhams from Indonesia can be used in Malaysia and the ones from Malaysia can be used in Singapore WITHOUT THE NEED FOR THE MONEY CHANGER’S fiat! And the coins follow WIM (World Islamic Mint) standards (consistent weight, purity and size), so they are fully interchangeable anywhere in the world, making it a true global mode of payment.

If you don’t think that’s bad news for the Central Banking criminals, check this out. Dean reports that exchanging physical silver for everyday goods is simple, and one ounce of silver – while still representing a ridiculous 50 to 1 silver to gold ratio – goes FAR. There are 31.1 grams of silver in one troy ounce, so 1/10th of an ounce, around $3.10 in silver value (USD) will buy 5 loaves of organic wholewheat bread.

1 dirham (2.975g of 999 silver) =
1 whole organic, free-range chicken
5kg of brown rice
10kg of unbleached flour
5 loaf, organic wholewheat bread, etc.

1 dinar (4.25g of 917 gold) =
1 goat
1 sheep
1 month apartment rent

Dean writes, “Suddenly, we see true freedom on a whole new level as more and more people awaken to the nature of “divide-and-conquer” paper currencies!”

Once again we say, take THAT criminal Banksters. Good luck trying to put the genie back in the bottle now.