chek't
same here.
The most manipulated (Ag) of them all not going to go down as easy as an equity
ETF's and Physical metal: Gold and Silver
This methodology can be applied to virtually ALL of the ETF products out there. Some background of process and stated ownership (custodial) . Blackrock is LARGE in this space with trillions tied to ETF's. Larry Fink COB/CEO and his handler's et al deserve a special place in hell for all this too. You own real hard assets if you purchase physical. You own pieces of paper that promise you can have it later. This is the fallacy that the system has created to make you get muh feels that you are protected from any systemic problems the system has. Understand that these products that are in retirement account(s), brokerage accounts, managed money accts etc. They are nothing moar then a promise to get in a very LONG line should you actually need this protection. The contracts that trade on the COMEX are also this way. You are buying a paper delivery promise to own the metal(s) that is not backed by anything but it's input price and that is taken from the spot price-. These are ok if you want to capture movements with the daily prices. They are NOT going to give you anything physical when it all goes tits up.
Exchange Traded Funds or ETF's are a vehicle to capture any given movement of an asset class. These grew like weeds starting in 2006. They are hundreds of them that "track" market index(s), commodity's, bonds, currency-anything that is offered for trade. Now in the case of metals ETF's the major ones are: GLD (SPDR Gold Trust), IAU (ishares Gold Trust) for Gold and SLV (ishares Silver Trust) and SIVR (Aberdeen Standard Physical Silver Shares) for Silver- There are several moar in each and also have products that use leverage against the spot prices (2-3x of movement up and down) but those are the big ones based on the total amount of 'assets' placed in both. They key point of this is what you own. You own NOTHNG…all you own is a piece of paper that SAYS you can stand for delivery at an agreed upon call date. The price for these products are derived from the Chicago Mercantile Exchange or COMEX and use the spot prices you see displayed on any ticker that tracks that pricing input. Kitco is but one. In the case of iShares these are owned by Blackrock and they are the custodian of the metal that are supposed to be in these things. They do not have it. Larry Fink is the CEO of Blackrock and Cheryl Mills sits on the BoD as well. What they do is create fake reports that basically say "we have moved this amount in or out of the trust" to reflect the movement of daily prices. This can be seen in what is called the Committment of Traders report or COT.
See Cap #2 for the process of how they report it happens
It's nothing moar then a way to make it seem they are moving real metal around and satisfying the duties they have as custodians. If they truly did this in the way it is reported you would see real physical evidence of it being moved around-like a few trucks here and there…you don't. Recall the 911 event when the gold was taken out of the WTC complex afterwards. They had all these trucks lined up to "clean it up" what they really did was loot the gold that was stored in the complex. Think about it- if you did not know that was going to habben how could you amass a small army of trucks and put it on stand-by waiting to "clean it all up"? This goes back to Barrick gold and a few other mining companies too-not enough space to get in to that.
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The system created these products to take the pressure off of the physical metals trade..as to say, they want you in these instead of investing in real hard assets. In the last run-up in both metals that culminated in 2011- the day that UBL was "killed" both spot markets were HAMMERED upon the release of that information to the public. They used that event to have cover to do it. It was on a sunday early evening/anoon CONUS time. While everyone was transfixed by that news the system slammed both metals upon the opening of those markets for the coming Asian market open. See cap #2 for the silver slam-May 6th 2011. It was to the absolute SECOND that the UBL information released and the paper contracts were dumped on both Gold and Silver. William Daley (THAT Daley family)-Hussein's Chief of Staff, at the time, was brought in to manage this event in concert with the "news" being released-he was on staff for about a year. He currently occupies a positon as Vice Chairman of Public Affairs for Wells Fargo and was on the BoD of Bank of MY mellon just prior
Now JP Morgan, HSBC, Deutsche Bank and several others ran the metals up in anticipation of this event habbening-they knew it was coming and with each subsequent rise they were also acquiring physical metal and storing it somewhere in NY-the docks most likely-and systematically placing shorts on the overall market so that when the news bomb was dropped they were all positioned to profit on the way down. So no matter which way it went they were going to reap the benefit. JP Morgan does have a sizable physical position in physical silver and this is what will be confiscated from them using the E.O.'s. However it is not the same as what Blackrock represents as the custodian of the iShares products it created.