http://www.businessinsider.com/john-paulson-13f-2013-8
( Wrong way John Paulson.... dumped half of his GLD shares at end of Q-2 )
John Paulson's new 13F quarterly regulatory filing is out.
The highlight of the filing is that he's scaled back on his gold position.
At the end of Q2, Paulson held just 10,234,852 shares of SPDR Gold Trust, down from 21,837,552 shares in Q1.
Paulson, who made a name for himself by shorting subprime mortgages when the housing bubble burst, has been getting crushed by his bet on gold.
and....
http://www.valuewalk.com/2013/08/george-soros-sells-gold-john-paulson/
Same goes for John Paulson, who reduced his position in SPDR Gold Trust (ETF) (NYSEARCA:GLD) by more than 50% while closing all call options in Barrick Gold Corporation (USA) (NYSE:ABX). On the other hand Paulson increased his position in Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) by more than 70% while leaving his positions in IAMGOLD Corp (USA) (NYSE:IAG), Allied Nevada Gold Corp. (NYSEMKT:ANV) and Agnico Eagle Mines Ltd (USA) (NYSE:AEM) unchanged.
Is This Why Gold Is Spiking
That JPMorgan has been scrambling day afterday in the past week to meet gold delivery requests directed to its vault located deep under 1 CMP is no secret, at least not to our frequent readers. This peaked on Monday when, courtesy of a color-coded Comex scheme, we showed how panicked the lateral moves between various Comex gold vaults had become to preserve the illusion of physical availability.
However, as yesterday's Comex report showed, instead of tapering, JPM was just slammed with yet another 70K delivery (registered to eligible warrant detachment), which will likely appear on either today's or tomorrow's settlement. And since the other gold vaults appear to have no more freely transferrable gold to hand over to JPM as everyone is now scrutinizing their every move under a microscope, JPM may no longer have the option of ignoring the mess its vault is in. Which means it has one option: to start buying the metal in the open market.
And sure enough, breaking from the "standard" of the past 8 months, in which JPM was drowning in Issues, for both House and Customer accounts, the firm's House accounts just saw the largest Stop (i.e. taking delivery) since December of 2012, amounting to over 210K oz.
Has JPM, flooded with demands for physical, finally thrown in the towel, and seeing that the deluge in delivery requests is "untapering", had no choice but to turn to the one place it has left to replenish its stocks: the market?
Still, here is the big picture - until the 2103 August Stop, the balance for JPM House accounts was:
- Issues: 15,293
- Stops: 636
And Clients:
- Issues: 17,458
- Stops: 1,444
In other words, there is a ways to go.
Source: CME
April gold smash was self-defeating, Grant Williams tells King World News
Submitted by cpowell on Wed, 2013-08-14 21:17. Section: Daily Dispatches
5:15p ET Wednesday, August 14, 2013
Dear Friend of GATA and Gold:
In the second installment of his interview with King World News, Singapore-based fund manager Grant Williams, author of the "Things That Make You Go Hmmm. ..." letter, says the April smashing of gold has created a "perfect storm" for the metal, stoking demand instead of demoralizing it. An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
Investors taking their gold out of the fractional-reserve system, Grant Williams tells KWN
Submitted by cpowell on Wed, 2013-08-14 04:55. Section: Daily Dispatches
12:55a ET Wednesday, August 13, 2013
Dear Friend of GATA and Gold:
Fund manager and market analyst Grant Williams, author of the "Things That Make You Go Hmmm. ..." letter, tells King World News that gold is moving out of the commodity trading and banking system and into private hands as investors realize that paper claims on the metal far exceed the supply and the fractional-reserve gold banking system begins to come apart. An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
http://jessescrossroadscafe.blogspot.com/2013/08/gold-daily-and-silver-weekly-charts_14.html
14 AUGUST 2013
Gold Daily and Silver Weekly Charts - Thar She Blows?
The metals are hovering just below some key breakout points.
It has the appearance of a setup for an epic short squeeze, perhaps after some additional huffing and puffing.
Ted Butler thinks JPM has a corner going on the gold futures market on the COMEX.
"And I will be the first to attest that were it not for the incontrovertible evidence in the COT and Bank Participation Reports, there would be no allegation of a market corner to be made. But the data clearly indicate that JPMorgan holds 25% of the total true net open interest in COMEX gold futures and no one can refute that degree of market share wouldn’t constitute a corner on any market."If so, this will prove to add some interesting fuel for the fire to the upside. I am watching to see if we form a massive inverse head and shoulders bottom with the formation of a right shoulder and then a breakout through the neck, with a target in the $2,000s.
Well, let's see if at some point we get a triple digit gain day and break the no more than 2% up in one day rule.
If so, then silver should be capable of generating some fairly impressive shock and awe to the upside of its own.
http://jessescrossroadscafe.blogspot.com/2013/08/comex-registered-ounces-fall-to-new-low.html
COMEX Registered Ounces Fall To New Low, Total Gold Steady
“The tyrant is a child of Pride
Who drinks his sickening cup
Of recklessness and vanity,
Until from his heights he headlong
Plummets into the dust of hope.”
Sophocles, Oedipus Rex
Weighed, and found wanting.
Stand and deliver.
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