Harvey Organ: Derivative Meltdown HAS BEGUN!

by Harvey Organ, Silver Doctors Judging from the volatility in the USA index today, I strongly believe that we had a derivative meltdown of some sort. The total US dollar short position by major players is $9 TRILLION according to the IMF. The US dollar has gone from 80 up to 91.5 for a 14.3% loss. Coupled with this, the players then bought oil plus other commodities and that as well as seen a huge fall. There is also a huge problem with a potential Greece exit. All of these combined could add up to a trillion dollar loss to the major USA banking system! Here are the following closes for gold and silver today: Gold: $1183.00 up $2.10 (comex closing time) Silver: $15.73 up 7 cents (comex closing time) In the access market 5:15 pm Gold $1189.00 silver $15.76 Judging from the volatility in the USA index today, I strongly believe that we had a derivative meltdown of some sort. The total USA dollar short position by major players is 9 trillion USA according to the iMF. The USA dollar has gone from 80 up to 91.5 for a 14.3% loss. Coupled with this, the players then bought oil plus other commodities and that as well as seen a huge fall. There is also a huge problem with a potential Greece exit. All of these combined could add up to a trillion dollar loss to the major USA banking system (the major banking underwriters) The gold comex today had a poor delivery day, for the second day notice for the January contract month registering 0 notices served for nil oz. Silver comex registered 4 notices for 20,000 oz. Three months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 245.58 tonnes for a loss of 57 tonnes over that period. In silver, the open interest rose by 1,621 contracts despite Wednesday’s silver price fall of 68 cents. It is obvious that somebody is taking on the banks. The total silver OI still remains relatively high with today’s reading at 151,215 contracts. The January silver OI contract reads 104 contracts. In gold we had a decrease in OI with the fall in price of gold on Wednesday to the tune of $16.30. The total comex gold OI rests tonight at 371,646 for a loss of 2332 contracts. The January gold contract reads 353 contracts Continue Reading>>>

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