Large Comex Gold Withdrawal As Paper Price Manipulated Lower

As the Banking Cartel continues to push the paper price of gold lower, the Comex experienced another large withdrawal of gold from its inventories.  The largest withdrawals came from the vaults at HSBC and Scotia Mocatta.

In just one day, 321,650 ounces of gold were removed from the Comex:

Comex gold 110414

As we can see from table, 196,764 oz of gold were removed from the HSBC’s vault and a total of 85,584 oz were taken off Scotia Mocatta.  The total 321,650 oz removed represents 36% of the total gold in the Registered Category.  The Registered category is gold that is available for delivery into the market.

Furthermore, JP Morgan only has 577,937 oz of gold remaining in its vaults.  A few weeks ago, JP Morgan experienced a ONE DAY removal of 321,500 oz from its warehouse stocks.  This is not a trend JP Morgan can afford to continue.

Furthermore, total Comex gold inventories fell nearly 2 million oz since its high of 10 million ounces at the end of August. This is a 20% decline of total gold warehouse stocks in just three months.

Gold Paper Price Smash During the Swiss Gold-Backed Franc Referendum

Right now the Swiss are voting on whether to back their Swiss Franc with gold.  The voting takes place throughout the month and will be tallied on November 30th.  It’s no coincidence that the paper price of gold is being smashed during this important Swiss vote, that if passed, could be a huge LOSS for the BANKING CARTEL.

Of course, there are no REAL MARKETS anymore as every thing is being rigged by the Fed and Central Banks.  Before the Fed took control of the markets in 2008, the Stock markets and the precious metals all declined in the same fashion.  However, today we see a totally disconnect.

The Dow Jones hits another high today, while gold and silver hit new lows. Furthermore, the king base metal, COPPER is down 8% from its high of $3.27 in July to $3.02 today.  However, SILVER is down 28% from $21.5 in July to $15.5 today.  Thus, silver is down more than three times than copper in percentage terms.

The world will wake up one day to realize the BIGGEST PAPER PONZI SCHEME in history will go the same way as BERNIE MADOFF.  Right now, the Banking Cartel has the world convinced that the only way to survive is to continue investing in the largest ponzi scheme in history.

Unfortunately, all PONZI SCHEMES BURST.  And, when this one finally goes MADOFF, it will end a way of life for most of those who thought DIGITS in an account were wealth.

Please check back for new articles and updates at the SRSrocco Report.  You can also follow us at Twitter, Facebook and Youtube below:

Enter your email address to receive updates each time we publish new content.

I hope that you find SRSroccoReport.com useful. Please, consider contributing to help the site remain public. All donations are processed 100% securely by PayPal. Thank you, Steve

newest oldest most voted
Notify of
Outlookingin
Guest
Outlookingin

For day number 5 today, someone or group dumped $1.5 billion worth of gold futures onto the market at 00:30 hours this AM in the thinly traded market time frame.

Who “sells” this large amount of gold futures into price weakness? For the last five days in a row?

This blatant market price manipulation has become absolutely odious! I have now stopped paying any attention to this “paper shell game” and will now look at what the gold premium is in Shanghai.

Syrin
Guest
Syrin

Even better, who buys it. It’s worthless

Mark
Guest
Mark

If the price of silver stays below $20 for any period of time, I have to imagine the silver miners will fold up shop. A good thing actually. They are some of the worst businessmen around. Why they tolerate this price control is something I can’t understand.

Mark
Guest
Mark

Let me just add that I may be dumb for buying silver, but I’m not so stupid as to buy shares of silver miners. “Silver in the ground”? Total BS.

Outlookingin
Guest
Outlookingin

Just been confirmed as of 1:34 PM EST today, that the US Mint is now sold out of silver eagles!

Silver Curious
Guest
Silver Curious

I agree; valuations regarding Silver in the ground (or Gold in the ground) are loaded with all types of risks that most people can’t even imagine – holding physical bullion eliminates the additional counter-party risk the “Miners” inherently carry.

Brian Scrocca
Guest
Brian Scrocca

Can you explain your silver in the ground comment?

Outlookingin
Guest
Outlookingin

Demand for physical gold and silver products in ALL weight ranges, but especially in the one ounce coins (eagles, maple leafs, etc.) is now becoming very, very tight. It may well be that time when the masses begin to wake up and smell the coffee!

Only, it will be too late. When everyone wants to buy physical gold & silver, there won’t be any to be had!

Silver Curious
Guest
Silver Curious

I think in the $10 to $15 range even the general public realizes what a screaming deal 999 minted Silver Coins/Bars are compared to holding just a piece of paper that only has $10 to $15 Dollars worth of purchasing power.

Outlookingin
Guest
Outlookingin

The US Mint started today out with a little over 2 million ASE’s This supply is now gone In a little over two hours!

Also this just out from one of the biggest primary dealers; “Premiums for any previously placed purchases for silver eagles are NO LONG VALID”. Unprecedented.

Get ready for much, much higher premiums.

David
Guest
David

“I think in the $10 to $15 range even the general public realizes what a screaming deal 999 minted Silver Coins/Bars are compared to holding just a piece of paper that only has $10 to $15 Dollars worth of purchasing power.” From Ed Steer’s column today. Apparently it isn’t the general public buying in quantity. It was another big sales day over at the U.S. Mint. They sold 12,000 troy ounces of gold eagles—2,000 one-ounce 24K gold buffaloes—and another 635, 000 silver eagles. In the last four business days, the U.S Mint has sold 2,685,000 silver eagles, about twenty times… Read more »

Frank
Guest
Frank

“Right now the Swiss are voting on whether to back their Swiss Franc with gold. The voting takes place throughout the month and will be tallied on November 30th. It’s no coincidence that the paper price of gold is being smashed during this important Swiss vote, that if passed, could be a huge LOSS for the BANKING CARTEL.”

This is exactly what is going on. The banking cartel doesn’t want to give up its control of all things. So expect the prices to get smashed the entire month. MUST MAKE SWISS VOTERS AFRAID OF GOLD.

Silver Curious
Guest
Silver Curious

Most Swiss I know like buying cheap … so the cheaper Gold price may induce even more Swiss to vote pro-Gold.

JohninMK
Guest
JohninMK

Especially those who buy PM now when forced low to influence the vote, knowing that if the vote is yes them prices have to go up as the Swiss will have to buy 100s of tons.

Frank
Guest
Frank

They will figure out how to come up with a no vote. Our freedoms have been taken away from the banking cartel. Truly remarkable and SAD and DEPRESSING. This truly is the greatest ponzi scheme in history. Let’s see, central banks print trillions upon trillions into the hands of their connected banks, they then manipulate everything anyway they want, and as they print trillions to monetize govt. debt, gold and silver sink in value everyday while stocks are allowed to rip higher every single day. Then they parade their monkeys on CNBC talking about what AWESOME traders they are and… Read more »

RD
Guest
RD

Westeners have lost their mind and their souls decades ago to be sure…

rrrr
Guest
rrrr

I too think they will come up with a way to say the vote was negative. That’s who they are, and that’s what they believe in doing, they’re in the position to do it, there is nothing to stop them. It will take more than what we are doing to stop them.

Frank
Guest
Frank

Well…..RD, the thing is that this will all coming crashing down one way or another. The can keep gold at 700 an oz really, if they want. But that congress in the U.S. and around the world, ahem–Japan, can’t balance their budgets and haven’t addressed any of the long-term structural issues with entitlements, etc. then you can count on them having to print and print and print until it all ends. And that is exactly what we are RIGHT NOW witnessing in Japan. Japan’s profligacy is going to end in a hyperinflationary nightmare. It will be the first developed world… Read more »

Herman the German
Guest
Herman the German

Great post Frank!!!

Not much to add, except for the Million Dollar questio:
When does China dump the Dollar?

RD
Guest
RD

I do believe the swiss will not vote for gold in the swiss CB because the propaganda is going to be in overdrive mode in the next few weeks. Westerners have been sold to paper fraud for decades and seems to really love it (they are buying less than very poor indians when they even have mansions at several million dollars) so that this charade can continue for a while. The only think which could hasten the fall is if official BRICS power decide that enough is enough and launch a new more competitive system compared with this of the… Read more »

Frank
Guest
Frank

Indeed, RD. Believe it or not though…..almost all countries have been sold on the awesomeness of paper backed by nothing, which can be printed to pay for transfer payments, and even more awesomeness inflation. So this works for the little people as they get their transfer payments. And it works for the wealthy as they consolidate wealth. And the shrinking middle class is simply too stupid to stand up to it as they continue to believe voting for the blue team or red team is going to fix everything for them. And paper is clearly the greatest gift every for… Read more »

Dana W
Guest
Dana W

What I find interesting is the dollar index has gone clear up to 87.5, metals to have a reverse correlation to the dollar index.

David
Guest
David

All a manifestation and reflection of market manipulation Dana.

Nitro
Guest
Nitro

Great write up.
Great reply Frank!

mick
Guest

Not sure which comes first, market crash or gold moonshot.