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A Look Ahead To The CoT Report and Inflation Next Year

Cory
December 14, 2017

Craig Hemke joins me today to share his thoughts on the recent CoT report for gold and silver. The report showed an over 10% unwind in the net short position for the commercial traders. We will see the next CoT report tomorrow which we expect the unwind to continue. As for next year Craig comments on the potential of inflation picking up.

Click here to visit to visit Craig’s site for more PM focused commentary.

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Discussion
35 Comments
    Dec 14, 2017 14:03 PM

    He has it totally reversed. If you are short as the commercials were, you can’t make prices go down by closing a position. You would close a short by buying. The guys who drove prices lower were the speculators longs who closed their positions by selling out. The speculators, small and large, sold about 40,000 long positions and added an additional new 17,000 short positions. The Commercials unwinding was meaningless, the speculators are always the guys who move the market.

    Is this guy so wrapped up in his fantasies that he can’t understand you can’t make prices go down by buying?

      Dec 14, 2017 14:36 PM

      What a sad, pathetic troll you’ve become, Bob. Once again, as you’ve done before, you take what I say or write out of context and then try to spin it to your advantage. It’s disingenuous and it’s sad.
      What is your deal, anyway? Why have you become just a simple troll in your old age? Don’t you have your own website to run?
      Sadly, your anger and bitterness explains why you are on so many folks’ permanent ignore lists. I hope my business never gets so bad that I have to descend to your level.

    Dec 14, 2017 14:05 PM

    Turd:

    What part of “you have it reversed” has you confused? After mumbling for minutes about the positions of various participants, you specifically state that the commercials control the market.

    So my very simple question is, “How do the commercials make the market go down by buying contracts?”

    The answer is simple. Contrary to your claim, the commercials do not control the market any more than blackjack dealers control the market in Vegas. The speculators, the bettors control the market. And since the speculators like to sell at bottoms and buy at tops, we have a bottom coming. You understand that, you just don’t have any clue as to who controls the market.

    And by the way there is no ignore list on this site. I have no doubt you would love to ignore me but that’s your problem. And since you cater to what people want to hear, I also have no doubt you will do just fine financially. It’s your followers who will suffer.

    Dec 14, 2017 14:45 PM

    Whatever, Bob. Knock yourself out. Live in the delusional world you occupy.
    I clearly state that it was the RECORD SPEC SELLING that drove prices lower and have set up price for a rally. But that doesn’t matter to you, Bob. All that matters is your own little fantasy land of free and fair markets.
    I’m heading out for the night now. Off to see a movie with my family. You’ll just have to argue with yourself going forward. Just as you are for so many others in the gold community, you are permanently on my personal IGNORE LIST.

    Dec 14, 2017 14:47 PM

    arghhh

    Dec 14, 2017 14:14 PM

    Turd:

    Perhaps you should listen to yourself. Go to 6 minutes and 40 seconds.

    “the banks, the commercials that control this little tiny market. . . ”

    Fact: Prices went down
    Fact: Speculators sold
    Fact: Commercials bought

    Now tell us one more time how you control a market and move it down by buying.

    You obviously have never passed either a logic course or a Series 7 exam to be a commodity broker. I have done both and we were taught how commodities actually worked. If you would bother listening, you might learn.

    And where on earth did you come up with something as stupid as putting words in my mouth. “Fair and free markets?” How many thousand times would I need to say all markets are manipulated for you to get it? You want a fair and free market, move to Zimbabwe.

    Dec 14, 2017 14:17 PM

    Does anyone still listen to this guy?

    Bob Grierson

    Dec 14, 2017 14:17 PM

    That’s no way to treat a guest of this show. Personal attacks can and should be handled privately.

      Dec 15, 2017 15:42 PM

      Scott:

      While I pretty much agree, are you suggesting that it’s perfectly ok for the guest to be the one doing the personal attacks.

      My point was really simple. Either the commercials control the market or the speculators. It has to be one or the other and he was saying it is both. And that’s a fantasy.

        Dec 15, 2017 15:50 PM

        No I understood what you were saying, it’s just how it was said. Craig was a guest, and I felt he should be treated as such, just like I would for a guest in my home. Doesn’t mean I can’t question him or disagree.
        For that matter his attack directed at you was also very inappropriate for a public forum. Good debate is great, and we can all learn from each other, but not by attacking each other. Respect goes both ways for sure. I appreciate all your contributions to this site and on 321gold.

    Dec 14, 2017 14:25 PM

    Bob Moriarty gave a great interview on ‘CrushTheStreet’.

    Dec 14, 2017 14:01 PM

    Is Bitcoin a Bubble? 96% of Economists Say ‘Yes’

    By Ben Leubsdorf – Dec. 13, 2017

    “The soaring price of bitcoin is likely the result of an unsustainable speculative bubble, according to the vast majority of private-sector economists surveyed by The Wall Street Journal.”

    “If it looks like a duck, and quacks like a duck, it’s a duck,” said Diane Swonk, founder of consultancy DS Economics.

    “Fifty-one out of 53 forecasters, or 96%, said bitcoin has been experiencing a speculative bubble. Just two forecasters said its recent gains weren’t a bubble.”

    https://www.wsj.com/amp/articles/BL-REB-37908

      Dec 14, 2017 14:07 PM

      Please invest responsibly — an important message from the Coinbase team
      Brian Armstrong – Dec 8

      “We at Coinbase couldn’t be more excited by the explosion of interest in digital currencies. The last few weeks has seen an unprecedented increase in the price of digital currencies. More people are engaging with our platform than ever and that bodes well for the future of the digital currency. At the same time, it does create extreme volatility and stress on our systems.”

      “There may be downtime which can impact your ability to trade
      Despite the sizable and ongoing increases in our technical infrastructure and engineering staff, we wanted to remind customers that access to Coinbase services may become degraded or unavailable during times of significant volatility or volume. This could result in the inability to buy or sell for periods of time”

      https://blog.coinbase.com/please-invest-responsibly-an-important-message-from-the-coinbase-team-bf7f13a4b0b1

      Dec 14, 2017 14:12 PM

      Ripple Price Leaps Another 32% as FOMO Sets In
      South Korean investors can’t get enough of XRP, and its price continues to soar.

      Josiah Wilmoth on 14/12/2017

      https://www.cryptocoinsnews.com/ripple-price-leaps-another-32-as-fomo-sets-in/

      Dec 14, 2017 14:18 PM

      Ethereum Price Achieves All-Time High at $752, Up 20% in 24 Hours
      Joseph Young on 14/12/2017

      https://www.cryptocoinsnews.com/ethereum-price-achieves-time-high-752-20-24-hours/

        Dec 14, 2017 14:21 PM

        Ethereum co-founder Vitalik Buterin questioned whether the the half of trillion dollar market valuation of cryptocurrencies can be justified.

        Buterin said:

        “So total cryptocoin market cap just hit $0.5T today. But have we earned it? How many unbanked people have we banked? How much censorship-resistant commerce for the common people have we enabled? How many decentralized applications have we created that have substantial usage? Low added value per user for using a blockchain is fine, but then you have to make up for it in volume. How much value is stored in smart contracts that actually do anything interesting? How many Venezuelans have actually been protected by us from hyperinflation? How much actual usage of micropayment channels is there actually in reality?”

        “Bitcoin, Ethereum, and other cryptocurrencies are transforming the global finance sector and more multi trillion dollar industries at a rapid rate. But, Buterin emphasized that cryptocurrencies in the market including Ethereum have not done enough to solve the problems he mentioned in the statement above. At least not sufficient to justify the $0.5 trillion market valuation.”

        “In the last 3 years, the crypto market cap has increased by 200x, but I definitely don’t feel like crypto’s potential has increased by 200x. In some key sectors (eg. payments) it has even regressed,” Buterin added.

            Dec 14, 2017 14:16 PM

            Over the river, and through the woods, to Grandmother’s house we go……

          Dec 15, 2017 15:39 AM

          Ex:

          I just hate it when you start combing both facts and logic in the same piece. Facts and logic should be like health for your mind and body.

          Chose one, healthy mind or healthy body. It’s not natural to want both.

            Dec 15, 2017 15:15 AM

            Hi Bob M. – For the record I didn’t write any of the pieces above, they are just news reposts from the space showing the bubble-like frenzy, the government reactions, and even the co-founder of Ethereum had a reaction.

            The only commentary I personally gave up above was :

            “Over the river, and through the woods, to Grandmother’s house we go……”

            🙂

            Dec 15, 2017 15:43 AM

            It was pretty telling what Vitalik Buterin had to say about Ethereum (as one of the creators)in that piece linked above. Even he thinks the whole space is undeserving of it’s current valuation.

          Dec 15, 2017 15:41 AM

          EX,
          isn’t Spock’s company planning to use Etherium block chain tech into his gold mine…as a backed contract that is actually gold backed???

            Dec 15, 2017 15:13 AM

            Thanks I saw it below.

            Dec 15, 2017 15:08 AM

            Ex:

            It’s going to be interesting to watch $500 billion evaporate into the cloud.

            Dec 17, 2017 17:12 PM

            Bob M. – We’ve seen funds go to money heaven before, and we’ll see it again. 😉

    Dec 15, 2017 15:44 AM

    EX,
    this is the link……game changer??

    https://www.youtube.com/watch?v=H6b7ejoMEMQ

      Dec 15, 2017 15:12 AM

      Thanks for that interview confused. Interesting to see what Spock and Canamex are doing. Not sure that it will be a game changer, but interesting to see how things develop.