GOLD FLOOD: All Time Record 60K Contracts Remain Open For Delivery In Feb. Gold

And Two Short Selling Opportunities if RFK and Tulsi are Confirmed. To HELL with the Pharma and Military Industrial Complexes

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On the Road to Record Gold Deliveries

First notice on February gold came in at 29,621 deliveries. This is the second highest tally ever for a single day, and it is above the June 2020 first notice day of 28,375. We are on pace for an all time record gold delivery month. Closing open interest for the February contract came in at 59,285, which suggests we will have at least that many deliveries, and probably more.

The January contract came in at 22,538. If that is repeated, we could see deliveries as high as 80,000 contracts, completely unprecedented. There is some kind of panic going on, and I doubt it is related to tariffs. There are reports that the Bank of England is short on bullion and shipments have been delayed by about 2 months. This is equivalent to what was going on in the retail market in 2020, where if you wanted to order gold or silver in April 2020 when silver was around $12 and gold at $1,450 or so, you'd have to wait at least 2 months. I know because I begged my father to order from Schiff Gold the day of the crash and he did. He got his coins 2 months later.

Now the difference is it's happening in the wholesale market for 400oz good delivery bars instead of in the retail market on the coin level. If it's hitting the wholesale market now, the backup is going to hit retail in a month or two.

Meanwhile, the repos to bank reserves ratio is back above 70%, repocalypse ratio being about 83%.

Bank reserves fell about $107B from last week, thank almost entirely to the increase in the Treasury's account at the Fed, which has risen by the same amount most likely thanks to the Trump across the board spending moratoria. It's very obvious when you look at this table below of the Fed balance sheet.

So we can see numerically how slowing spending will actually quicken the final banking crisis, rather than postpone it. It's OK. We have to go through it anyway.

Short Selling Opportunity if RFK is Confirmed, and another if Tulsi is

God willing, RFK Jr. will be confirmed and tear the Pharma industry to bloody shreds. I'm hearing from Walter Kirn, who has a podcast with Matt Taibbi, that the fear in Washington from the chainsaws of the coalition of the sane is real. Kirn is as genuine of a man as they come, and in his opinion if we can get RFK in, there will be real change going forward in healthcare.