Harvey Organ's Daily Gold & Silver Report - Massive Raid failed again...silver is the attempted "mark"

http://harveyorgan.blogspot.com/2011/01/massive-raid-failed-againsilver-is.html
Massive Raid failed again...silver is the attempted "mark"

Good evening Ladies and Gentlemen:

The banking heroes orchestrated another of their raids today with their ultimate goal was to force many of silver longs to pitch their positions. As you will see in the body of my commentary they failed miserably today. Tomorrow is also the jobs report and as is customary, gold and silver are raided like clockwork. The fraudulent banksters wish to promote fiat currency instead of real money like gold and silver.

Gold closed today down by only $2.00 to close at $1371.40 (comex closing time 1:30 pm est). Silver, the object of this massive manipulation lowered by 6 cents to $29.11.

I would like to point out that when a raid has been signalled during their midnight meetings, the bankers never retreat and thus they continue to bombard at every rally. Gold and silver rose to par on 3 occasions today and each time huge number of un-backed paper was supplied by the bankers and down went these precious metals only to rebound once the close of comex was upon them.

Let us see what transpired at the comex.

First the gold comex:

The total gold comex saw the total open position fall by a hefty 9413 contracts as some very weak longs were routed as they pitched their contracts only to be gobbled up by the bankers covered his shorts. Thu, we witness the open interest contraction which is what generally happens in a raid. The open interest for tonight which is basis last night was 583,200 contracts. Yesterday's level was 592,613. Here is a corker: the January open interest rose from 58 contracts to 71 contracts despite a fair size delivery yesterday of 45 contracts.

If all options must be exercised by January 1 2011, how on earth is the OI rising? The estimated volume today was a very healthy 199,914 contracts and I will bet that when confirmed tomorrow , the volume will rise high into the 200 thousands.

As promised, the confirmed volume yesterday was a massive 234,633. The front delivery month of February saw its open interest fall from 350,399 to 335,228. At least the bankers were smiling a bit with this figure!

Now for our silver (and the object of the "Morgues"' (JPMorgan) advances:

The total comex silver OI to the amazement of everybody who follows this stuff, rose by another 1629 contracts having withstood two consecutive days of massive raids. The new open interest tonight rests at 138,560 (basis last night) from the prior reading of 136,931.

This was the reason for another midnight oil meeting. The decision: tell Bylthe Masters to muster up the gang as they need another raid. Get a load of this next reading: the front January options delivery month saw its open interest rise from 59 to 95. There were only 2 deliveries yesterday so, this is difficult to explain as all options have to be exercised by the first of January. The front delivery month of March saw its open interest basically remain constant at 77,480 contracts. The estimated volume today was good at 65,676. The confirmed volume yesterday was a monstrous 87,462 contracts. To give you an idea as to quantity of oz, 87,462 contracts equals 437.3 milllion oz. The world (without China) produces around 600 million oz or roughly 72.8% of worldly production. China has decided not to export any of their silver. If you include China's 89 million oz then the total world production is around 690 million and thus today's volume equates to 63.3% of worldly production.

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