Thursday, December 15, 2016

Rigged, another day of rigging..........Gold battered, silver tattered

"over 90,000 contracts in gold futures were puked .....over $10 billion notional..."
Yet, not even "one" ounce changed hands in the process!
Gold is suffering the worst 6-week tumble since May 2013 and the last 24 hours have seen the losses accelerate as following The Fed's second rate hike in a decade, someone dumped over $10 billion notional of the precious metal through the futures market. As the dollar surges to 14 year highs (and EUR tumbles) so silver also is plunging most since the election near a $15 handle once again.
Over 90,000 contracts were puked through futures in the brief time after yesterday's rate hike decision - over $10 billion notional, and that selling pressure has re-accelerated this morning.
When the derivative market for Gold/Silver finally gets busted by the physical side of the market it's probably going to be the biggest fireworks party the world has ever seen.  Buying physical Gold is like buying a Lottery Ticket,  where you know the odds of winning are 300 to 1,  you just don't know the date  that they announce the winner.

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173