James Turk: Silver in Backwardation- No One Wants the Counter-Party Risk!

by The Doc and Eric Dubin, Silver Doctors

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panicJames Turk joins us this week for a MUST LISTEN show discussing:

  • Silver Has Been in Backwardation Since JanuaryNo One Wants the Counter-Party Risk!
  • The writing is on the wall for Greece- Bail-in appears inevitable! 
  • When Greece is bailed-in, Will Contagion Rip Across the Banking Systems of France, Italy and Spain?
  • Turk Explains Why Fiat Currency is Coming to a Conclusion
  • Governments Will Come Back to Gold Either Willingly, or Kicking and Screaming!
  • When the Big Black Swan hits, Will Americans Finally Wake Up to the Encroachment of Fascism? 
  • Why it is Prudent to Protect Your Wealth With THINGS…Not Promises! 
  • Turk Explains Why Buying Gold Today at $1200 is Better Than Buying Gold at $35 in 1971!The SD Weekly Metals & Markets With The Doc, Eric Dubin, & James Turk is below:

 

 

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header art:  JPM trade diagram
Source:  William Banzai7

The gold cartel must have a sense of humor.  Just look at today’s 72 hour Kitco “spot” chart.  As Turd Ferguson is fond of joking, even Stevie Wonder could see the HFT algorithm driven correlation between Friday and Thursday’s COMEX sessions.

Looking forward, we have a shortened holiday trading week.  The same motivation that compelled capping action this past week remains.  options expiration looms and the cartel is going to try to hose as many longs as possible.

Once we get past the options expiration song and dance, traders are going to start to set their sites on the obvious fact that Greece is going to default in June and China is going to likely announce new gold holdings this summer.  These catalysts and other developments will drive gold and silver higher and I’m expecting June will bring break-out moves higher – finally.

It was a pleasure speaking with James Turk.  Mr. Turk has tremendous insight into the precious metals markets.  I’ve followed his work for over 14 years and I rarely miss any of his articles.  I highly recommend the two books he co-authored with John Rubino, “The Money Bubble,” and “The Collapse of the Dollar.”

Weekend Links

Have a great weekend – Eric Dubin

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