Precious Metals vs. Currency Roll-Over

US$ is trading close to its opening price (77.070) at 77.10 up 51 points on the final trading day of Sept Currencies, the new spot month is now Dec, Sept US$ high is 77.280.   Treasuries are stagnant with Eurodollars trading lower and the further years out trading higher. Petro Products are weaker to flat at present, Gold has leveled off from the strong Asian demand with the trade at $1,825.80 up $7.10 with the high so far at $1,832.90, Silver is being pressured down 30 cents with the trade at $40.530 after reaching a high of $40.900, all base metals are following Silver at present.   Grains are all weaker to flat with Rice down the most, Softs are mostly lower with the exception of Sugar.   Meats do not trade till the opening of CME leaving our Paper Products to report on as weak at best.   Today we are done with the Sept Currency contracts (in most things banks can control) and we believe the end of the attempts to keep precious metals under wraps.   We’ve heard from the many who have no experience trading Commodities telling us that the metals have run their course. We believe these people should learn more before reporting this type of incorrect view.   With open interest as low as it is in Silver (112,967) and the price no further away from its 1980 than it was when there was opening interest of over 535,000 back in 2008 which means the strategy of buying the physical and removing it from Comex is doing something that the bankers don’t want.   Martin Armstrong’s latest missive talked about the fiat ratio in commodities being 10:1. When Martin was imprisoned, the representative for CPM group Jim Christianson claimed the ratio was 100:1.   It simply might have been a typo, but the removal of a 5,000 ounce contract of Silver, removes 100 pieces of paper Silver from their control, this will have a major bearing on prices in the future.   Precious Metals will remain the go to till people of this planet believe the banking system can be trusted again.   That took 40 years the last time, as people began to work hard to pay off everything and had carried no debt what so ever …. Stay Strong!!!

JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
Fax: 817-764-2537

Don’t risk what you cannot afford to lose….

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