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Precious Metals
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Three things you may wish to keep in mind for this week As close as we can figure, JPM cornered the physical PM markets, and has the corner. As well Citi captured the entire derivative market for PM's. The screwy LMBA report that appears to say that China has the equivalent of 981,602 Kilo-Bars or 9,816.03 metric Tonnes of .9999 Gold, and attempts are made to explain that "They" meant that the Mineral Mining Reserves of Gold in China were 9,816.03 Metric Tonnes (China may have good engineers, but I submit it would be impossible to calculate underground Mineral Reserves of Gold to .03 of a metric ton). Now Greece should be voting now, and Monday is gonna be a Go / No Go day, a "come to Jesus" moment for the entire EU, but that is belaboring the point, since its a dead horse, fait accompli we are beating. Now I have not calendared all the other things that happen this upcoming week, but betcha dimes to doughnuts, that there are other issues private and public that are going to strain the financial and societal fabric in a big way. Given that, everyone and everything is suspect, and no one, is as Caesar's wife, above suspicion (she wasn't either). |
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