http://harveyorgan.blogspot.com/

Good evening Ladies and Gentlemen:

Gold closed today up $1.20 to $1388.50. Silver finished the session up 15 cents to $28.54.

Before heading over to the final readings at the comex today, I would like to explain a few details for you. The comex silver and gold started to trade in the early 1970's. The mantra of the comex, is: " the futures market is always a price discovery mechanism and does not determine price." The factors surrounding the current spot month determine the price and conditions in the future will influence how that price is determined. In essence, that worked quite well until the late 1980's when the bankers started to lease gold and silver. The comex instead of being the price discovery mechanism, it became the determining factor in the price and the supplying of huge amounts of un-backed gold and silver paper via the leasing of gold from the central banks played a major role in the suppression scheme. The bankers sought to have paper money supreme over gold and silver.

To continue this game, you needed collusion from all banking players as to when to withhold bids and when to whack the metal prices. They decided to use the jobs report to engage in their collusive activity. They have for at least 5 years, whacked gold and silver on the eve of this report and they are doing it right now.

When you have criminal activity it is difficult to think of the comex as a science. It is far from it. I try to give you the facts so you can engage yourself accordingly. For example, I do not give you total inventory levels of comex gold and silver because they are without a doubt false. The dealers inventory, if they have any, is encumbered many times over. So to give a hint as to what is going on, I give changes in inventory and also notices to deliver as a sign of a possible default. The open interest reported gives us clues as to demand and how the bankers are behaving with their huge short position. If any of you think you can use technical analysis on the comex, forget it. Whenever you have manipulation, technical analysis is out the window. However I will do my utmost to explain in simple terms what is happening to help you in your investments.