PIMCO,Texas Teacher Reitrement Fund &Soros buys into GLD/Greek bailout no further ahead as potential delay in implementation/ Portugal

Wednesday, February 15, 2012

Good evening Ladies and Gentlemen:

Gold closed up today by $10.70 to $1726.60 by comex closing time.  Silver was ambushed by our bankers after being up considerably during the early part of the comex session.  Silver's final comex resting price was $33.39 up only 7 cents. It was close to $34.00 at the second London fix.  As I pointed out to you on previous commentaries the bankers do not like what they are witnessing in silver.  They are viewing the players as different from before and they are probably scared witless that many are taking delivery.  The last two non delivery months of January and February is all the evidence that they need that some newer and stronger entity is here trying to get as much of physical silver as possible.  You will see below that for the 6th straight session the net OI for the front February month increased again (we remove yesterday's delivery notices from the Feb OI to get net OI)

Let us head over to the gold comex and assess trading today.
The total gold comex surprisingly rose by 4380 contracts yesterday from 426,784 to 431,164. I guess the raid had no damage done to the open interest as gold leaves refused to fall from the gold tree.  The front delivery month of February again saw its OI fall from 493 to 452 for a loss of 40 contracts despite only 1 delivery notice yesterday.  Blythe was handing out the candies in full force today as 40 contracts succumbed to cash settlements.  The next big delivery month is April and here the OI rose from 231,263 to 232,679 as long players certainly took note that the Euro meeting scheduled today was cancelled.  The estimated volume today was very weak at 128,217. The confirmed volume yesterday, with the raid orchestrated by our bankers registered 167,886 as they supplied huge amounts of non backed gold paper.

Silver is the object of the bankers interest.  Today the OI registered a slight retreat of 1320 contracts to 104,872 from 106,192 as it still trades in this very narrow channel.  The front options delivery month of February saw its OI fall 81 contracts from 212 to 131.  However we had 127 delivery notices filed yesterday.  Thus for the 6th straight day, the number of silver oz standing for delivery rose.  Today an additional 50 contracts ( 250,000 oz) are standing.

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Reversal of Fortune: Soros Said to Buy Gold Again Late Last Year

Friday, 06 Jan 2012 11:15 AM

By Forrest Jones

Legendary financier George Soros returned to buying gold in late 2011 after selling it earlier, and is due to reap the benefits later this year when Fed policies will likely weaken the dollar and send the precious metal climbing, Emerging Money reports.

In the first quarter of 2011, Soros Fund Management sold almost all its shares in the SPDR Gold Trust and the iShares Gold Trust exchange-traded funds, Bloomberg reports, citing SEC data.

Gold later fell in 2011 as the dollar resumed its safe-haven status on sentiment that the U.S. economy was set to improve and somewhat decouple itself from Europe's woes.

Read more: Reversal of Fortune: Soros Said to Buy Gold Again Late Last Year
Important: Can you afford to Retire? Shocking Poll Results

Soros says EU break-up would be catastrophic: report

Thu Jan 5, 2012 11:46pm EST

(Reuters) - A collapse of the euro and break-up of the European Union would have catastrophic consequences for the global financial system, billionaire investor George Soros was quoted as saying.
"Today, the euro is potentially endangering the political cohesion of the European Union," the Business Line newspaper cited Soros as saying in the south Indian city of Hyderabad.
"If the common currency were to break down, it will lead to the break up of the European Union itself. And this will be catastrophic not only for Europe but also for the global financial system."

How George Soros ended up with MF Global’s client money

By Peter Brandt
A warning to former MF Global segregated account holders: If the news has already been more than you can bear, please do not read this post — it may really push you over the edge

While the congressional hearings have been interesting, at times shocking, at other times even quite entertaining, Congress has yet to connect the dots. So I will do it for them.

In short, when the dots are connected, a significant portion of the $1.2 billion (some say more, some say less) of segregated account money illegally stolen by Jon Corzine’s MF Global (with the CFTC driving the get-away car) has landed in the pockets of George Soros.