For those tracking precious metals, keep a close eye on the Russian Ruble rate in $USD over the next few days/weeks. Keep in mind that Putin has pegged the ruble exchange rate at 5000 rubles per gram of gold for the next couple of months.
There are 31.1034768 grams in one troy ounce. As such, the exchange rate for a one troy ounce of gold garnering you 155,517 Rubles.
After peaking at 145 Rubles to $1 dollar (145:1) a few weeks ago at the start of the conflict, it's now approaching where its stable range was prior at about around 72-77:1 range. The ratio went as low as 74:1 last night, creating a brief arbitrage opportunity for savvy traders to sell gold in rubles amounting to $2101 USD/oz versus the present CRIMEX spot price in the neighborhood of $1950/oz.
Today the ruble:$USD ratio has been fluctuating wildly in the 77-83 range. With Putin's most recent threat to cut off the gas to Europe tomorrow, I would imagine we can expect some more wild fluctuations as the international banksters fight to keep the ratio around 80:1, while sovereign western European nations scramble to get their hands on more Rubles.
Here's where banksters need to hold the ruble at to maintain the illusory CRIMEX spot price, somewhere in the 79-80:1 range.
155,517/83 = $1873.70
155,517/80 = $1943.97
155,517/79 = $1968.57
155,517/74 = $2101.58
Assuming the spot price of gold maintains the $1950 range, any slippage in the ratio below 79:1 will cause another arbitrage opportunity for international traders selling gold into Russia for rubles, than trading their highly in-demand rubles for Euros or $USD. Last night there was nearly a $150/oz profit margin at 74:1.
For those interested, most of the online currency converters are static, not reflecting the wildly fluctuating rates right now. Here's a good currency conversion tracker that provides up-to-the-minute values if you click the "1M" chart view -> https://tradingeconomics.com/russia/currency
If the CRIMEX, CME, LBMA, etc. continue their shenanigans with MASSIVE SUPPRESSION of the precious metals prices in order to maintain the fiat $USD value deception, then gold is going to start flowing to Russia in never before seen amounts. And if they don't, then the spot gold price is going to start rising like never before. This could get interesting!
Could this be how "Gold destroys the Fed"? Inquiring minds wanna know.
Nice link, thanks!
That guy posts daily, often even more detailed. Amazingly brilliant mind. Gotta love his username too.
Also want to shout out Wallstreetsilver and to say that even though gold looks to do well, silver still has plenty of fundamentals behind it pointing to an improving gold/silver ratio currently ~80:1 to head towards ~55:1 regardless of whether gold price rises
Been following the squeeze over a year. Have a few hundred Oz myself but the price is lower than it was all of last year, really. It's frustrating but the more people stack, the closer we get. It's the physical equivalent of GME
The lower commodity price with real inflation roaring at +10% is the absolute proof of market manipulation. The price itself is what’s known as a “steal”.
I am trying to understand his posts. Looks like I need to take a crash course in Comex terminology and process to fully understand what all the things like "gold arriving", "inactive month", etc means. Worth investing the time on it.
Inactive months are more tha that don't generally see as much volume in trade. They are usually the same year by year.
Gold arriving is usually when the metals banks move some of their stock into the COMEX vaults, usually to replace gold that has been delivered to customers demanding delivery of gold they are entitled to.
The ponsi scheme is that when people buy gold in "unallocated vaults" they don't buy actual gold, rather the promise that if they demand delivery they will get gold.
So if there are 100oz in unallocated pool, the banks will often sell that same gold to several customers and they all own it thinking it's theirs. Typically no one demands delivery of large amounts of metals because they want it to be "kept safe"
That fractional reserve dealing makes the price of gold be kept down because on paper it shows that so much has been sold (when in reality it's the same gold being sold again and again having multiple unwitting owners).
Banks also sell their own gold to each other (without ever moving it, just changing the owner of it on paper) to keep prices down.
However the last year, many people wisened up and have been demanding delivery of silver and gold, causing the banks to have to put in their own stock to replace what has been delivered. As people keep demanding delivery, banks are getting their bluff called.
Of course they can always default and settle for cash as per their contract to those demanding delivery of non existing stock, but that will blow the lid off the scheme.
For bullion buyers in the retail side (people buying coins, rounds, bars, etc) they aren't directly affecting the comex as the comex deals with contracts (5000oz of silver per contract) and they get supply from producers. The coin buyers are retail and its a different side of things, but the more goes to retailers, the less there is for COMEX and the British and Australian equivalents.
There were massive shortages on the retail end and the Perth Mint (Australia gov mint) was set back MONTHS and set limits on retail purchases but swore they had the supply. They resorted to buying silver from China at one point to keep up lmao.
Then they released a picture of some guy standing by some bars and used that as proof that they have plenty of silver. He became a meme.
Hey, thanks for this really useful post. You should perhaps think about making a new post or series of posts - like "Primer on Comex and their Shenanigans" or something like that. It would be massively useful for the people here.
So this is a thing? Is this reflected in their data? I see available pool and reserved pool but no unallocated pool.