Craig Hemke from TF Metals Report – Fri 13 Apr, 2018

Open Interest For PMs Has Been All Over The Place This Week

The big swings in the precious metals this week have been matched with some equally big swings in open interest and contracts. Craig Hemke, founder of share the changes in gold contracts and position of the specs in silver.

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Craig HemkeCory Fleck
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  1. On April 13, 2018 at 7:01 am,
    Dick Tracy says:

    Japan has found a rare earth supply off their coast big enough to supply the world for 100’s of years and in the case of yittrium around 780 years.

    • On April 13, 2018 at 7:29 am,
      JohnK says:

      Thanks for the link D.T.
      This could prove to be a real game changer.
      The concatenation with Japan and China just became more interesting.

      • On April 13, 2018 at 10:02 am,
        Nigel says:

        I had to look up ‘concatenation’ well you learn something everyday

        • On April 13, 2018 at 10:33 am,
          JohnK says:

          I just finished Ludwig Von Mises four book set “Human Action” A Treatise on Economics.
          All said and done I had to learn 387 new words.
          Mises writings can explain why a lot of things are happening in today’s world.

          • On April 13, 2018 at 10:43 am,
            JohnK says:

            I will add that I was really looking forward to the fourth book.Turns out the fourth book was a glossary of words. I guess now in retrospect I should have started with the fourth book instead of the first.
            Ludwig what are you doing to me?

  2. On April 13, 2018 at 7:13 am,
    Robert Moriarty says:


    You are either a liar or a fool. You just said,

    Hemke writes: “Do you really think that some mining CEOs had left standing orders with the bullion banks to immediately sell forward a year’s worth of production on any sudden, war-related spike in price? Give me a break! But this is what the apologists and shills want you to believe.”

    Give me even a single example of an apologist or shill who said anything like that ever or admit you just made it up.

    • On April 13, 2018 at 8:19 am,
      Silverdollar says:

      Mr. Moriarty:
      Trud (Turd) can defend himself but I’m going to comment on the hatred you seem to exude with almost every post of yours in the last few months. We all know you’re bright enough to hold your own in most debates so why add that lather of hate? Are you in pain? A boil on your ass perhaps? Lance it, Bob. Soak it in a tub of hot water and make sure it heals from the inside out; otherwise you will have to lance it again.
      Personally, I think Hemke has a good understanding of the future markets. What he sees as suppression, you see as something else. So what? He thinks the banks don’t have the ability to deliver the physical. He’s probably right except no one ever tests that area since the Hunts, who found out the hard way that rules count only until they are changed! You likely see it a bit differently. Good. We’re all entitled to our opinion, just not our own facts.
      Take care of yourself Bob. I like your web page and I agree with 90% of your thoughts and facts on Israel.

      • On April 13, 2018 at 9:24 am,
        Robert Moriarty says:


        You get it. After listening to what I know are lies for the best part of 18 years and watching as no one in the industry seems to be willing to do anything about it, I began to hate the liars and manipulators and con men that have taken over the mining business and I figured that while I could, I had an obligation to speak up and speak out.

        We all know because we can add and subtract that you cannot possibly suppress anything to a 1150% positive return. We know that because anything that goes up that much couldn’t possibly be suppressed. And we know that after it went up that 1150% anyone saying it was about to explode because it was suppressed must have cost a lot of people a lot of money.

        There are some great writers who have made a lot of money for people and they are starting to speak out about the rampant corruption that we all know is going on Avi Gilbert just came up with a couple of pieces commenting on the manipulation that had been happening that the Turd is part and parcel of.

        • On April 13, 2018 at 11:00 am,
          OOTB Jerry says:

          From the article above……321 Avi
          The letter asserts that the Federal Reserve has been seeking to manipulate the price of gold by intervening in or otherwise interfering with the free market in gold. This is not true.

          The Federal Reserve owns no gold and therefore could not sell or lease gold to influence its price.

          • On April 13, 2018 at 11:01 am,
            OOTB Jerry says:

            Mar 9, 2016 – According to the figures published by the World Gold Council, the United States central bank — known as the Federal Reserve — has 8,133.5 tons of gold … In his own words, he is investigating “the audits performed on 95 % of US official gold reserves — the 7,628 tonnes stored by the US Mint — this is …

          • On April 13, 2018 at 11:02 am,
            OOTB Jerry says:

            In 1933, U.S. President Franklin D. Roosevelt issued Executive Order 6102, which outlawed the private ownership of gold coins, gold bullion, and gold certificates by American citizens, forcing them to sell these to the Federal Reserve. As a result, the value of the gold held by the Federal Reserve increased from $4 billion to …

          • On April 13, 2018 at 11:02 am,
            OOTB Jerry says:

            ug 10, 2017 – Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6200 tons of gold. … In doing so, he says, “central banks actually own less gold than people believe.” Some gold bugs — investors bullish on the yellow metal — think the Fed secretly lends it

          • On April 13, 2018 at 11:03 am,
            OOTB Jerry says:

            Gold custody is one of several financial services the Federal Reserve Bank of New York provides to central banks, governments and official international organizations on behalf of the Federal Reserve System. The New York Fed’s gold vault is on the basement floor of its main office building in Manhattan.

          • On April 13, 2018 at 11:04 am,
            OOTB Jerry says:

            Does the Federal Reserve Own or Hold Gold? |
            Jul 15, 2015 – Yes. That’s the short answer to the question of whether the Federal Reserve owns or holds gold. The Fed got out of gold ownership in 1934 and shipped its gold holdings to the U.S., Department of Treasury under orders from Congress and the president.

          • On April 13, 2018 at 11:07 am,
            OOTB Jerry says:

            Dec 3, 2014 – Gold certificates are denominated in U.S. dollars. … Although the Federal Reserve does not own any gold, the Federal Reserve Bank of New York acts as the custodian of gold owned by account holders such as the U.S. government, foreign governments, other central banks, and official international organizations.

          • On April 13, 2018 at 11:10 am,
            OOTB Jerry says:

            Gold Certificates…..are redeemable in GOLD……same as they have been since the beginning…..If, they own the certificate they own claim to the Gold……JMO

          • On April 13, 2018 at 11:14 am,
            OOTB Jerry says:

            Audit the FED and Ft.KNOX……..will be the real proof…………jmo

          • On April 13, 2018 at 11:49 am,
            OOTB Jerry says:

            Dollar to gold ratio on the debt clock is……$4737 per OZ……..

      • On April 13, 2018 at 11:19 am,
        Ebolan says:

        …why add that lather of hate? Are you in pain?

        Maybe Bob’s like me. I am not prejudice, I hate everyone. 🙂

        Just kidding. But regarding being in pain, I try to laugh so I do not cry. 🙂

        Our society is so absurd and our rulers so corrupt what else can you do?

        • On April 13, 2018 at 11:33 am,
          OOTB Jerry says:

          Ditto……….Our society is so absurd and our rulers so corrupt

        • On April 13, 2018 at 12:26 pm,
          Silverdollar says:

          +1. I understand where you are at, believe me. It will get better. My worry is that it will get worse first.

  3. On April 13, 2018 at 7:40 am,
    CRAIG HEMKE says:

    Feel free to check the archives of Christian or Weiner for examples, Bob. You’ll find all sorts of references to how the altruistic bullion banks are simply helping their mining clients to hedge.

    Good grief, Bob. It’s sad to see what you’ve become.
    There was a time when you were relevant and you actually added helpful information. But now, you’ve reduced yourself to the role of a simple troll, following me around and posting disparaging commentary.
    It’s 2018, Bob, not 1988. Maybe it’s time to hang it up?
    Have a nice weekend.

    • On April 13, 2018 at 9:11 am,
      Robert Moriarty says:


      Everyone who understand finance in mining knows that loan provisions provide for hedging via forward sales. There is no right/wrong, good/bad as you love to suggest. The terms are simple, Mr Mining Company. If you want $XXX million, we insist on you hedge $yyy for zzz years.

      So suggesting that there is good hedging or bad hedging is making stuff up. You know as well as I do the banks want their loans covered. So if that is so and we know it is, what exactly was your point and who believes “mining CEOs are leaving standing orders to sell forward a year’s production on a surge in price.” I swear you made that up. It doesn’t happen so you can’t possibly be an apologist or shill for something that isn’t happening.

      Hedging is a fact, there is no good or bad. Banks demand it. It’s a fact and if you can’t handle that maybe you need to go into another business.

      I am sick and tired of people who make stuff up and neither Al nor Cory ever follows up with a tough question such as who is doing this. I’m not sure there is even such a thing as a bullion bank. There are banks that loan money to mining companies. They are never altruistic, banks always want to get paid. They aren’t helping mining clients to hedge, they are demanding it in the same exact way that local banks in Iowa insist corn farmers hedge their production.

      And I’ll make you a deal, you attack me and I will attack right back and if you can’t handle it, get your mommy to put a band-aid on your boo-boo.

      Futures market manipulation and spoofing??
      I thought Weiner/Christian/Armstrong/Moriarty/Norcini/Casey/Gilbert all assured us the markets were sacrosanct, free and fair!
      TF Metals Report added,

      Tell me again where I ever suggested markets were sacrosanct, free and fair or by your silence you can admit you made it up.

  4. On April 13, 2018 at 8:01 am,
    spanky says:

    Is this “it?”

    Is the nearly 2 year consolidation in the silver miners over with?

    Well, the weekly candles my silver miners are putting in, especially EXK and AXU, look promising for additional follow through (assuming they aren’t reversed by the close of the day today–never say never).

    Is this “it?” Is the nearly 2 year correction/consolidation over with???

  5. On April 13, 2018 at 8:10 am,
    JohnK says:

    Good one there Spankmeister.
    “Charts don’t lie,People do”

  6. On April 13, 2018 at 9:40 am,
    spanky says:

    I will note that IPT’s 10 week EMA is very close to positively crossing the 50 week EMA. Definitely a very bullish sign. The 50 week EMA will thereafter represent a major support and any touch should represent a buying opportunity.

  7. On April 13, 2018 at 11:53 am,
    OOTB Jerry says:
    • On April 13, 2018 at 11:54 am,
      OOTB Jerry says:

      Rosy can say, …”they made me do it”…………”I asked for permission” ….what a joke

      • On April 13, 2018 at 11:56 am,
        OOTB Jerry says:

        They make these rules up , as they go……..

      • On April 13, 2018 at 11:57 am,
        OOTB Jerry says:

        To date, Rosenstein has offered little by way of explanation publicly, but he made clear last year that if he were to become a subject of Mueller’s investigation, he would recuse himself.

  8. On April 13, 2018 at 12:18 pm,
    Paul L says:

    About time for stocks to fall hard as Vix has dropped by an extreme amount. Intel is giving a negative signal. S&P made it close to the 50 day to within 10 points and that means shorting can begin.

  9. On April 13, 2018 at 12:19 pm,
    Paul L says:

    Bitcoin up 27% from my purchase Tuesday and still has room to run even though it is really worth zero.