Not sure how many of you saw this as it was posted over the weekend, but here it is again for those that missed it. Quite telling if you ask me. This was an email sent to Bill Murphy @ Le Metropole Cafe which he included in Saturdays MIDAS:
Bill,
A quick note.
Mr du Plessis of Rand Refineries tells me that JP Morgan is virtually begging for delivery of all available gold and has been aggressively pushing the South Africans for delivery for a number of weeks already. None of the "non-Cartel" mining houses are willing to sell their stocks stored at the refinery at current prices.
He also advises me that J P Morgan are on an extremely short list of buyers entitled to delivery of any stock available for sale and that all buyers not on the short list are simply turned away, no matter how much cash they have in hand. Non-Cartel holders of bullion will sell only at very high premiums over spot, but they do have stock if anyone is interested.
The South African refinery is convinced that the pog will bounce off a low somewhere in the mid $500’s and track straight back up past $1000.00 and into the mid $1500’s in short order.
Good luck to anyone who can secure delivery at current spot prices.
This squeeze is definitely tightening.
Regards
The Buccaneer
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