This guy has a great analysis.
Silver Update 4/16/13 Force Majeure
Investors… this is a GREAT VIDEO…. this guy is good.
Watch for Force Majeure ( An event that is a result of the elements of nature, as opposed to one caused by human behavior.) in the Comex to default soon. 7: minutes in.
The door is going to be SHUT on being able to PUCHASE gold / silver soon….
The CME announced today a case of “force majeure” regarding one of its physical gold storage facilities, Mantra, Tordella & Brookes (MTB), managed for the COMEX, located in the southern part of New York City, in an area that was inundated during the storm known as Sandy.
MTB’s warehouses were holding 29,276 ounces of gold for the COMEX as of November 23, 2012.
A case of force majeure is a clause in [...]
Hurricane Sandy blew away 29,276 troy ounces of gold and 33,000 troy ounces of palladium!!!
“CME Group Inc. (CME) on Monday said that Manfra, Tordella and Brookes Inc., one of the exchange’s gold depositories, will not be able to delivery metal as the lower Manhattan company deals with “operational limitations” almost a month after the arrival of Hurricane Sandy.
MTB, one of five depositories licensed to deliver gold against CME’s benchmark 100-troy [...]
When Indonesian copper mine workers discovered they were being paid fraction of pay at $3 an hour, subsistence levels, for highly profitable copper mining at the world’s second largest mine, compared to $47 an hour, workers for the same large US Corporation Freeport-McMoran, in other parts of the world, riots started. Several striking workers have been killed; also police have been attacked, with some casualties, [...]
Libya’s descent into civil war has led to drastic cuts in oil shipments and prompted warnings that an escalation of the crisis could see Brent crude prices double to $220 a barrel.
By Ambrose Evans-Pritchard8:50PM GMT 23 Feb 2011
Nomura’s commodity team said oil prices risk vaulting to uncharted highs over coming weeks if chaos hits Algeria as well, reducing global spare capacity to the wafer-thin margins seen [...]
Our advice to Italy, which imports 425,000 barrels of oil each day from Tripoli: “Panic.” Following yesterday’s Force Majeure announcement from Libya which meant that oil production and exports will continue only for a few more days, the FT now reports that over half of Libya’s production, or about 800,000 barrels is now offline. As Libya accounts for ~2% of global oil exports, this [...]
As oil prices race toward $100 a barrel, the expectations that gasoline prices will make a leap are running high.
Some traders say $4 a gallon will be a reality in the not-too-distant future, and prices could shoot even higher. But that might be the exception rather than the average in the United States this year unless the Middle East unrest spreads to Saudi Arabia or another [...]
With Egypt dominating the news, were you aware that a severe price spike in produce for the United States is very likely?
The headline above from this article appeared as the headline in the Digital Journal on Friday
In a February 6th article on record global prices for food I had presented the Food Price Index that was prepared by the FAO of the United Nations (see chart here). The point of [...]
King World News has received word from James Turk that silver is in extreme backwardation.Â Turk stated, â€œThere is a huge story that is brewing.Â Silver is in backwardation to 2015, which is 13-cents cheaper than spot.Â This is unbelievable.Â Money does not go into backwardation except â€˜in extremisâ€™!â€
â€œIf this situation continues, and there is no reason to suspect that it is about to end [...]