Gold and silver inventories and trading positions are becoming increasingly interesting.
In the first chart below I show CFTC data that shows gold and silver short positions in the futures to be at record highs.
And in the inventory reports, physical gold marked as available for delivery, in both Hong Kong and New York, is approaching record lows.
Are gold and silver near a tipping point, at least for this long, long sideways chop through a trading range?
The signs seem to indicate that we have indeed reached an extreme in the pursuit of speculative advantage through the manipulation of paper.
Stocks were indecisive, moving lower by the end of the day, with a few tech notables managing to move higher, in what perhaps may be remembered as a last hurrah.
The rally seems tired. And is often seen at the latter stages of long trends, risk seems to be almost phenomenally mispriced. Or at least it may be perceived so after the tumult is over and done, and the denouement of this latest phase of the ongoing control fraud that is modern finance collapses, once again.
And perhaps more importantly with regard to tipping points, is the current regime of the domination of he real economies of the world by the Banks, with their enormous power to create and distribute the Dollar almost at will, nearing an end?
We cannot yet know. But what is certain is that all this too shall pass. Especially when it seems as though it never will.
And in the short term, there will be a Non-Farm Payrolls report on Friday.
I confess that this weekend was a bit more difficult than ordinary. Not that I am looking for sympathy, but just so those others who feel the weight of some loss know that they are not alone. No normal person is exempt from the suffering of a loss of a long time companion and best friend. There is an emptiness that creeps into the heart.
But the cure is not to dwell upon the sick sweetness of despair, but to fill our hearts with acts of loving kindness, actions that take us out of ourselves, and reward us with repentance and forgiveness. And most of all with gratitude, for the many consolations and tender mercies that are too often overlooked.
