Can I Sign Massachusetts Banking Medical History

Can i industry sign banking massachusetts claim

hey everyone this is rob kings of goldsilverpros.com and it's wednesday march 3rd 2021. it's a lot of content that we could cover so i'm probably going to do a series of shorter videos this week we're going to go ahead and jump right in we're going to take a look at what's going on in the general economy and then i'm going to take a look at the precious metals right after that there's an interesting report that comes out from transunion every month where they look at some industry snapshots this is the january 21 2021 monthly industry snapshot and transunion along with some of the other credit rating agencies because they're ingesting so much data can look at different industries and tell where they're going they know how people are doing on their credit and they also know how they're doing per industry so this is always a good little snapshot to look at i'm going to read just the first part of the executive summary so you get an idea of what we're looking at in this report it says here transunion is pleased to release the 10th edition of our monthly industry snapshot the first of 2021 as the new year progresses impacts of the pandemic continue to evolve each month we provide lenders with insights on consumer credit trends to help guide strategies and some highlights include and then i'll let you read that executive summary if you want to you basically just go here to this url on train union's website or you can just google it and find the report we're going to go down and look at some of the data in the report so i'm going to blow this up as much as i can get it these little snapshots into the picture so what they do here first is they break it down by industry so the first set of charts is for auto then they have their their tiers here the wrist tiers here so the current one is in the bright color so the current wrist here is 13.83 for the sub prime and then it goes up from there near prime prime prime prime plus so on so forth but really what i want to look at is the number of accounts or the percentage of accounts in hardship and and how that's trending since last year it's this middle table here so i'm going to blow this up just a little bit and focus on this middle table so in the auto sector january of 2020 that's a year ago 0.453 total right here if i can highlight just this one last year not even a percent about a half a percent of people were in some level of hardship meaning they were delinquent on their payments or they hadn't paid in a while in the auto sector that has now jumped to whopping 2.66 that is something like a five and a half fold increase since last year now it has come down just a tad since december 2020 but it's still very very high compared to a year ago before we started having the shutdowns that's the trend that we're going to be noticing and that's what i want to point out to you that's why i looked at this particular month's report here for the channel was to do a year-over-year trend to see where we have come since the shutdowns basically since the the pandemic began subprime has jumped amazing almost 900 percent from 0.928 to 8.891 that means the lowest part of the market by credit score is suffering the most in their automobiles and it means all of those subprime automobile loans are basically starting to blow up the near prime which means they get an interest rate slightly worse than the prime or the best is uh went from just over a half half a percent about point six percent to almost four percent so that one jumped a great deal as well the prime went from point four one eight to two so even those prime lenders those decent credit and above are spiking we saw an increase in prime plus which is really good credit 0.3 uh 0.326 percent to 1.1 so that's almost a quadrupling and the super prime has even gone up it's tripled to even the best credit they the amount of accounts and hardship owning automobiles has tripled year over year since basically we saw the pandemic not so surprising when we see all the deflation in the economy the job losses and so on and so forth but you see it really show up in automobiles now as we go through the other industries in the report you're going to notice where people are prioritizing their money because essentially people don't have enough money and i'll show you some of that information later on in the presentation there's a nice little story and zero hedge we're going to go over some of the the savings rates and things uh in a moment but it's interesting to see where people prioritize their money obviously they're letting a higher percentage of automobile loans go bad essentially over some other areas so let's scroll down we're going to look at bank card or credit card if you will this time last year there was six hundredths of one percent six hundredths of one percent not six percent six hundredths of a single percent of bank cards and hardship or delinquency now there's 2.133 percent i don't even know how many thousands and thousands of percent increase that is but it basically went from being minuscule to being over two percent of bank cards in hardship the subprime of course went up the most to 2.9 percent from the same .006 or six i'm sorry six one thousands of percent let me get this correct six one thousandths of a percent the same as the total the subprimes went to 2.906 the near primes were seven thousandths of a percent they went up to one point eight three four percent the primes are about even money on the credit as eight thousandths of a percent went up to about two percent uh prime plus seven thousandths of a percent to two point two and this the super primes four thousand percent 2.091 now the interesting thing to note here is regardless of your credit level you went from having a minuscule almost identical from point i'm sorry four thousandths of a percent to seven thousand or i'm sorry eight thousandths of a percent not that much in other words minuscule amount of delinquencies on bank cards and credit cards to all of them going to about two percent with subprime going to almost three percent it's like an even distribution across the different credit ratings for the bank cards so that is real explosives what that tells me is people may be using their bank cards more to pay for other things we'll see that in mortgages here in a moment maybe to pay their auto bills although auto bill delinquencies are exploding they may be using pay for other things and it's probably housing let's take a look at housing next so mortgages this is the percent current so this is this report's done a little bit differently it's just showing current and and how many days overdue in this middle section so we're going to look at january of last year current 92.9 january 2021 95.7 that number actually looks pretty good uh january last year 30 to 60 days overdue 3.9 down to 2.2 60 to 89 days overdue 2.7 down to 1.2 uh 90 plus days overdue has dropped from one percent to 0.7 and in foreclosure is halved from 0.2 to 0.1 percent so where are people spending the money they're using their bank cards to help pay their mortgage that's obvious whether they're withdrawing cash or doing it in some other way using checks written on your credit cards they're paying off the mortgage because because the amount overdue on the mortgages has actually fallen over the year while the auto and the bank cards has exploded so people are prioritizing their mortgages the place where they live over the automobiles and they're using their credit cards to do it this makes sense if you think about people not commuting to work as much not going out to restaurants as much maybe they don't need as many automobiles maybe they're selling off an automobile and and sticking with one instead of two or two instead of three and they're also letting them go more delinquent and they're also using their bank cards basically to finance their lifestyle that's pretty clearly uh what this report is showing so interesting data there unsecured personal loan this is really interesting when if you go to your bank and you get an unsecured personal loan that means that you're using a lot of banks will use something as collateral your your um you can tie anything you want in into it but this is unsecured so basically you go to your bank and you're saying i have decent credit you know i have had a bank account here for 10 years or whatever can you give me an unsecured personal loan so it's just a loan the bank gives you tends to be a little bit higher interest rate than what you could get like on a mortgage but lower than once you can get under credit card so they're going to be pretty popular but the banks also tend to be somewhat stingy on these they don't hand out credit on these as readily as they do credit cards so it's kind of in between like a mortgage and a credit card not as much paperwork and you don't have to put your house up for collateral on an unsecured personal loan but a little bit harder to get than a credit card so january 2020 uh last year we have .223 percent that's less than one percent uh we're basically delinquent or in hardship and now it's exploded to over three percent so this is even higher than what we saw on the bank cards and the auto loans well except for the subprime auto loans but essentially people are letting these personal loans because they're unsecured go delinquent faster than they are even their credit cards because they know they have to keep their credit cards the the unsecured personal loans maybe it's an issue with the bank but if you're out of money anyway and you don't have any money in your your checking your savings account i can see why people will let these go delinquent faster so people are figuring out where can they basically borrow money and never pay it back and where the lowest amount of consequences were were the highest amount of consequences they're not going to lose shelter and go live on the street before they allow these personal loans to go bankrupt they probably liquidate their bank accounts in the meantime while they let these go delinquent then they're giving up some of their cars and then the mortgages are going to be next but the trend is that eventually it's going to come to mortgages because you see it big time in the credit cards you see it in the automobile and you see it in the personal loans so uh getting back to the detail on unsecured personal loans it went from point one seven three percent this time last year to three point three one seven percent near prime point two two to 3.16 you see the same level of consistent delinquency rates going up on the unsecured personal loans here as we did up in the essentially the bank cards the percentages are basically the same regardless of your credit level so regardless of your credit credit level they were really low this time of year ago really low like like two tenths of a percent exploding to between 2.5 to 4 across the board on the unsecured personal loans so there's more information in this transunion report if you want to look at they got it broken down by state uh percent of borrowers 60 plus if they get age groups 30 plus i encourage you guys to go look at that because they'll really teach you about first of all who's suffering problems and second of all how people allow these bankruptcies to to progress because this is all going to appear on their credit and what they value the most obviously shelter service and the mortgages they want to keep their credit cards liquid as much as possible because they use they live off the credit cards to pay for other things they'll let a car go and they'll let some of those cars go delinquent and they'll totally not pay unsecured personal loans so what happens to banks lending out on these unsecured personal loans when these rates get high enough they'll stop blending those out and that will start a cascade credit gets tighter as delinquencies go up pretty much across the board so whether we're talking the personal loans the mortgages the autos or the credit cards as delinquencies go up banks are gonna that hits the banks and their liquidity ratios we talked about remember basel iii requirements or tightening up liquidity ratios this year uh across the board for banks so as delinquencies go up regardless of what category those delinquencies are it's really more the overall dollar amount as that plays against the bank's liquidity ratio their ability to to to be liquid you know because you have to have more money coming in than going out to stay liquid right so as delinquencies rise your liquidity ratio gets strained and as basel iii requirements start to come into play here on the liquidity ratios this year and next that's going to start a cascade in a waterfall of not only defaults of people on their various loans but on the banks not lending anymore so those two things are going to happen at the same time higher delinquencies less lending especially to the subprime borrowers so i expect to happen the subprime borrowers are going to get squeezed first and they're going to lose out first and it's going to go right up the chain right up the stack of the credit ratings as both of these things converge um interesting information for you guys to see uh especially in light of people criticizing the states of texas and missouri release relinquishing all of their their restrictions due to uh the shutdowns and due to the pandemic they're releasing their restrictions they're getting rid of the mass mandates and things and they're getting a lot of criticism but i think those states the governance of those states and the health departments may be seeing this coming and they know they have to get the economy restarted because this could knock out the entire system where at the end of the day the end victims of this are not only the account holders or the people taking the loans it's going to be the banks and if the bank failures start cascading across the system and again it's two things happening at once it's delinquencies going up across the board with exceptional mortgages but it will get there eventually to mortgages as people run out of money as delinquencies rise across the board and the basel iii requirements start to come into play and tighten things up in the banking sector across the rest of the world if we don't open up the economies then you could start see cascading defaults across the banking system and that could start the next depression and the fed could print all they want but they already have dumped with quantitative easing and all the printing going on as a result of quantitative easing regardless of how that money gets printed transmitted we can talk semantics but as you ease as the fed eases and more liquid money and debt money enters the system the the next subsequent round of easing that you do is less effective so if we have another issue where we have a banking issue like we did in 2007 2008 the economy could be in serious trouble because they don't have as much firepower they can't lower rates we're down basically zero percent rate so they can't you know have five percent of rates to lower like they did during the last crisis i think they were up over six percent they started lowering and on average the imf has said you need five percentage points to lower to jump start an economy during a major recession the fed doesn't have that and they've already created so much easing so there's so much debt and money awash in the system that they would literally have to drop a nuclear bomb of money on the system to have any effect whatsoever and even then i think it appears as though uh it may not be enough so i think that's the period we're entering into we're the end of this round of the fiat system where it's going to crash and we're starting to see that come across the numbers and a lot of that had to do with the deflation economy last year due to the shutdowns and the restrictions so criticize texas and missouri uh governors and health departments all you want but i think they see the writing on the wall maybe that's one of the reasons and along with the uh the virus numbers going down sort of across the board at least as reported by the cdc whether or not you believe those i'm just saying the officially reported numbers um i think that's why that's happening uh the governor's no and the townships no and the people know another piece of data i want to share with you is this really interesting report on xero hedge it's called 30-year mortgage rates are no longer below 3 so going back to this report you know the only area where people weren't didn't have rising delinquencies was in mortgages but now we're already starting to see the banks react and raise mortgage rates so in other words the era of ultra-low mortgage rates is about to come to an end they cannot keep it low they have to raise those rates to deal with what all these other delinquencies and all the other risk in the system and also we're seeing bond rates rise and that's going to affect eventually the mortgage rates there's a certain sector of the bond rates that affects mortgages are basically based off of those bond rates so as as the bond rates rise so are the mortgage rates and so that's going to tighten up how many people can get lending for homes okay and you're going to start to have more delinquencies as people give up their automobiles and give up and can't get secured loans anymore basel iii requirements come into place and require more liquidity banks tighten up then it's going to start to affect 30-year mortgage rates at a time when you have rising i'm sorry affect mortgage solvency at a time when you also have rising mortgage rates meaning less mortgage loans subsequently closed which means less liquidity coming into banks in terms of overall amount of lending which means additional stress on the banks you're starting to see the trend of of what i'm talking about today that's what this whole video it is about today is about solvency of the consumer insolvency of the banks as a result of that and some of the regulatory requirements coming down that's going to make it worse starting this year and next with basel iii so 30-year mortgage rates are no longer below three percent uh us 30-year mortgage rates have rebounded sharply since two weeks with the 30-year treasury yield spiking above 2.25 percent this story was as of march 2nd so it was earlier this week on thursday uh last week the recent shock to fannie mae 30 year mortgage uses a benchmark for his home loans it's meaningful on a five-day basis outside of one time during the crisis last spring it was the biggest percentage rise in mortgage rates on record so here's the chart you can see the 30-year five-day price changes spiking and the overall rate is now above three percent as it goes on further to say despite the latest report from freddie mac suggests that 30-year mortgage rates were still at 2.97 percent it seems that reality is a little bit different so now we have going above three percent according to bloomberg freddie mac and christoph broad so going back to the report earlier this week mortgage daily news published an interesting article highlighting freddy's data is accurate when it comes to capturing bond rates over time but can really fall short when the bond market experiencing elevated volatility the paper added most any mortgage lender added another eighth of a percent to their 30-year fixed rate offerings over the course of the past week most lenders are 0.25 to 0.375 percent higher and compared to the beginning of last week many lenders are full half point higher in other words what have been 2.75 is now 3.25 percent would have been 2.875 is now 3.375 the spike in mortgage rates has already had negative consequences u.s home loan purchase applications fell for the third straight week reaching a nine month low nine month low lending is going down and we haven't even gotten to the meat of the liquidity requirements on basel three which is going to change the whole game this year later this year mortgage bankers association data showed that the purchase index decreased by 11.6 percent the largest drop since april 2020 and we know what happened last year around that march april time frame and a weekend of february 19 2021 down 6.1 percent in the week prior the so in other words the the percentage of down is going up it was down 6.1 percent now it's down 11.6 so that that is an increasing amount of reduction in the purchase index the index of purchase application has fallen for the last five weeks down 23.9 for mid january so since transunion compiled all this mortgage uh information and this uh performance credit performance information the overall purchase applications have fallen 23.9 and the rates have risen to over three percent so you're starting to see the trend there you're seeing the tightening you're seeing less money come into the system you're seeing the whole thing just start to like this the whole machine just like oil's been drained down the engine it's starting to seize up you're starting to see signs all right another interesting report related to all of this again from zero hedge i love zero hedge because they've in the last week have had really great information on what's going on the economy and what's going on with consumers so 27 of all household income in the us now comes from the government following today's release of the latest personal income and spending data wall street was predictably focused on the changes in these two key series which showed a surge in personal income to be expected the month when the 900 billion december 2020 stimulus hit a couple of the far more modest increase in personal spending you can see this chart see if i can blow this up just a little bit so there was an increase in personal income but not so much an increase in consumptive expenditures so people are either saving or using to pay off other debt but while the change in the headline data was notable what was far more remarkable was the data showing just how reliant on the us government the population has become personal current transfer receipts that's a little big let's drop that one down so you can see here that the personal uh let me blow this up smaller because my windows can be on top of it okay this is basically government payments to the public has gone if you look in 2000 january of 2010 of the century it was about a thousand dollars per person it's reached about 6 500 and that was during uh basically crisis times last year we know the shutdowns and then it's almost re-reached that a year later we're sitting at about 5 700 uh current transfer receipts or payments from the government to the public uh and it means that excluding the two trillion analyzed surge in government transfers personal income excluding government handouts actually declined by 22.3 billion in other words if the government hadn't been handing out personal expenditures went down 22.3 billion um hardly a sign of a reflating economies you can see the numbers here u.s household income minus government handouts is actually down down in september down december up a little bit in december down in january remember december is holiday season but you're not seeing a huge jump due to holiday season so this holiday season was pretty muted compared to past holiday seasons shown in longer term context one can see the creeping impact of government payments shown in red below i'm going to make this a little bit bigger for you guys so the red is is the government payments and the rest is personal income minus the payments you can see over time this goes back to 1959 the gradual increase as as an amount of the payments by the government it's increasing it's also increasing as a percentage you can see this red is a larger percentage of the overall pie than it was at the very beginning that's something we talked about in our book we in my book drop shadow truth about the economy which you can order on amazon or subscribe to my website and get access to i talked about this trend and i use government data about 50 pages in chapter 2. i talked about all this in in excruciating detail here's another chart on the personal savings rate now it did spike when the pandemic first hit because people weren't out spending so they were saving but that has fallen throughout the year and personal savings rate has gone up a little bit but again a lot of that has to do with government expenditure so the government doesn't continue to bail out that personal savings rate is going to fall back off a cliff even though the personal savings rate momentarily went up it did not increase the overall savings of the average american and you can see that in the delinquency data we showed from the transunion report at the beginning now government transfer payments as a percentage of total income you can see it spiked it spiked twice spiked at the beginning of 2020 and now spiking again in 2021 it continues to go up now it's been going up over time since they started looking at it in 1960 so this just means the government's paying more and more and at the end they're having to pay a whole bunch just to keep the economy going that's essentially what this is saying because the consumer is about 75 of the us economy so the government has to increase transfer payments to consumers or the economy collapses essentially and that's what's happening so um rich countries tend to have a bigger middle class except the united states you can see here here's the us compared to the trend this is a trend line of rich countries the us is lower has the middle class basically is dying that's what that means u.s at same level as china turkey and russia so china turkey and russia these you can call them emerging markets you can call them secondary whatever you want to call them uh u.s is at that level now we're no longer on top in terms of the size of our middle class middle class has been eroded and that's because of all the things that i've been showing you for years in terms of how healthy is economy and how much money are people making another interesting thing again from zero hedge uh this is gonna be the last news report now i'm gonna get into the gold and silver report we'll do that here in a moment but i wanted to to highlight this u.s mall values crashed by record 60 in 2020. now this is something i predicted for last two to three years i used to write for seeking alpha a really big site where a lot of people write on finance and a lot of them credit investors go to get investment data i think there's something like 20 million visitors every month six million registered subscribers at seeking alpha the average uh register subscriber makes 377 000 at least that's what it was last year i don't know what the 2021 data is but as of 2020 people that read it seeking offer basically are all you know rich and credit investors top one percent and so i used to write there and i kept saying the reit sector and the the retail um retail real estate sector is in trouble and you're starting to see it now i'm always ahead of the curve when i say this because i look at data and i can start to see trends and data before they blow up into big trends i see them when they small trends and i look at the overall economy i look at a lot of things and i called this and so u.s small values crashed by 60 in 2020. so all of those reits those real estate investment trusts those funds that you can invest in in real estate to have a mall component you can expect that those will continue to fall now i stated before that reits can fudge their numbers there are creative ways they can fetch their accounting but they can only do it for so long expect these numbers to start to hit the returns on the reits any day now in fact they've already started to but they're really going to hit big time in 2021 for those of you that subscribed to my website the paid subscription the quarter one newsletter which i wrote at the end of january this is about a month and maybe six or seven days ago i said the big story of 2021 is going to be the crash in real estate and i highlighted this stuff for my subscribers about a month before i'm bringing it to you guys on the youtube channel so that's one reason you may want to subscribe to me on the website because i'll get to things i'll do my my predictions my early predictions ahead of when i release them publicly and it's one of the outstanding predictions i made a couple of three years ago i think this one was in 2017 2018 you can see that on my website you can go to the research page and it'll show my predictions and i link where i made the prediction so you can follow where i actually have been credited for making it usually the 2017 or 2018 i said uh one of my predictions was a real estate crash and that's about to come true i think that's going to happen in 2021 i think that's starting now so in any case the the mod values crashed by 60 i'm not going to go over detail on this but you you can you can read it um here's why i'm just going to pick a random quote we're just going to read one thing but you guys can go and read this report on xero hitch simon's town center at cobb outside atlanta which once appraised 322 million received no bids at a courthouse foreclosure auction in february meaning nobody wanted this bad boy according to a local news report the the company's montgomery mall near philadelphia was appraised at 61 million last year at 69 dropped from its 2014 value so you can see how these reits based upon these malls or they have a large mall component are going to continue to crash when you literally can take a foreclosure sale and there are zero bids on an entire mall complex that was valued almost 400 million dollars at one point i mean that's tremendous that shows you what the investors are smart they're not buying something that's on the decline gonna keep declining even if they get at a discount because they know people aren't shopping at malls anymore they're ordering online and overall sales even though the the amount of online sales has increased overall retail sales has fallen and i wrote an article about that basically for the last year i believe that was on seeking alpha on my website as well you can go look in the free section on my website and find that report where i said if you add up the increases in online sales it still does not equal the decreases in the brick and mortar sales so overall consumer spending has been going down of course i just showed you that with the reports the previous reports on xero hedge as well all right next we're going to go into the metals report what you all have been waiting for so here is silver you can adjust it here so we can do this one silver has had some pretty good deliveries i covered this the first delivery day of march was actually back in february so this is last week i covered this and i talked about how we had healthy deliveries and i want to focus on that too so let's go back to that friday february 6. we had 5904 contracts a 5 000 silver it's about was it 30 million ounces that that's quite a bit we also had strong ep numbers that's people going over to get exposure in the london market either they're taking delivery or they're getting some sort of paper derivative exposure because the otc market is unallocated but there's a lot of that too so we saw uh we saw 9 000 contracts between london and comex a 5 000 out silver on the first uh intent day for march which occurs uh two trading days before the beginning of the month two business days then in monday's numbers we still saw 9 or 16 deliveries and 478 efp here and then if you go to yesterday's data you saw 772 deliveries on comex and 1031 either deliveries or access to the unallocated dc bs market in london and so we're seeing lots of interest in silver is what that means increasing interest and silver if you want to look at the price trend silver has remained fairly strong right now it's in the 26 range and you can see overall that people are trading at about 26 and a half a little less than 26.5 26.385 somewhere in that range at 26 and what is that 3 8 give or take contracts for may so a lot of the trading is shifted to may and it looks like we're sitting in that 26 area but again that's all paper has nothing to do with physical because physical is running out just about everywhere it's run out in the retail sector some people still have thousand ounce bars not a whole lot obviously there are still some thousand ounce bars on comex because people are doing the 5000 ounce contracts at a fairly heavy rate to the tune of about 30 million ounces plus an additional how many million ounces are going over to the london market as well so there is some liquidity in silver although it seems to be tightening up it started in retail and it's not just because mints closed and things like that because a lot of them have reopened um it's because the current prices are cheap people see risk in the system they're taking delivery because silver is cheaper than gold you have more people able to do it and you also have the industrial demand and there is a temporary shortage in silver will that lead to a long-term shortage in silver we think so because according to silver institute uh we're supposed to increase industrial silver demand by a hundred million ounces to over a bay ounces this year at the same time in which we don't have a lot of free silver and the investment demand has gone off the charts we talked about that repeatedly on previous shows and have talked to andy scheckman of miles franklin and james anderson vestibulin about that so we know that silver silver is not readily available to the retail market and there are shortages okay moving over to gold gold got smashed i'm going to talk about gold gain smasher in a minute on february 25th of course you see this big volume bar in both the futures and the options and i'm gonna show you that's when gold got smashed down into the low 1700s it's very clear in the charts it's unmistakable it's a fact it's on comex it's their data not conspiracy theory it is a fact this is how the market trades i'll show you that in a minute the big thing about gold was there there was a hell there have been a healthy amount of deliveries as well so on the first delivery day for march and gold there were 2 531 on the march contract there were 7 0013 on the efps so 7013 went over to london you look um on the deliveries uh the next delivery date which was this past monday 823 and then almost 2 000 in london so you can see more gold demand pushing over to london that unallocated market what does that mean an allocated means not one owner it means you're going to have more paper sitting on top of less metal that's the literally the definition of unallocated more traders than is actual metal or more paper claims or speculation on top of actual metal you're seeing more gold going to that unallocated market than you're seeing delivered on comex if gold was really that liquid on comex people would just take it off comics because all you got to do is switch the warehouse receipt to that gold doesn't have to move anywhere and just hold it right there it's not that expensive to do one of these things you just basically have to be willing to pay you know all of the margin or 100 of the value of that gold so what this tells me is people are interested in physical either going to london or they're taking that derivative exposure getting that short-term gold exposure but more liquidity is in london right now than it is on the comex in other words it's more in the derivatives than it is the physical that's the key now on tuesdays data same thing about five times as much demand went into the unallocated odc market in london then went on the actual deliveries but even so gold's had fairly robust deliveries let's get to the to the delivery report you'll see that both gold and silver are having a very healthy a delivery month in march uh the first day of course we saw 25.31 overall deliveries for march and gold are sitting at 49.47 this number right here that's very very healthy four days in in what was considered a fairly light market for gold in silver we knew that there could be more deliveries because it's a fairly good amount of open interest and you can see overall it's up to 76.61 so the very first day it was at 30 million ounces it's up more than that it's up to seven six six one contracts of 5000 out silver so it's creeping up and if we get anywhere near the 16 000 of open interest which we could because we're only four days in so we've got another what 20 20 um calendar days or was that 15 17 business days in the comex markets you can take delivery we could get to that 16 000 number there was 16 000 contracts of open interest in in silver when we started so if you get all of that off i think that's 80 million ounces that would drain most or the majority at least of the registered silver stocks on comex registered meaning available for trading not the eligible the one that's privately owned that's not registered for trading but the registered that would be the majority of that all in one month meaning we continue to drain on silver supplies much more demand we're seeing industrial and investment wise than there is supply coming in that's why the numbers can continue to dwindle now if we reach that clamp up phase and silver where it completely locks up because we have immutable uh silver shortages no but clearly the numbers indicate we're getting there and i don't care what what anybody says there's been there's been a lot of disinformation uh on a particular interview over at kitco that people have been sending me i'm gonna examine that interview later am i going to do it today um but essentially a lot of what was said in that interview is balderdash and misinformation and misdirection i'm going to show that won't do it today but we will get to that fear not all right so i'm going to get back to something i teased earlier look at the smash down that occurred on february 26 in gold let's go over to the settlement numbers the volume is how many contracts are trading futures and options the settlement tells you what the average price is in on what month so the active month being traded in gold right now is april you can see by the amount of volume of the open interest so at a average price of 1750 80 there were 235 000 contracts that sold that was on wednesday if we go back to thursday february 25th we were trading in in the high 1700 1775 300 000 contracts then if we go to the next trading day friday february 26th this is where it happened 364 000 contracts look at that spike in volume closing at 17 28 that's a 50 difference in one day so when you see a spike in volume on this chart i'm gonna teach you guys how to do this when you see a spike in volume on this chart the immediate thing you should do is for that day go to settlements and see what the price is compared to the previous day so let's go back and let's look at that again we're going to go to settlements we're going to look at the price so if we looked at the 25th there was a healthy 317 000 contracts but in the high 1700s and the paper shorts came in the naked shorts by definition a naked short is when you don't have the metal to back each contract position that is settling that is by definition and naked short in any market okay there were not 364 000 contracts of 100 ounce gold backed by metal because they're not that much gold there available in the registered category so it can't be it's naked shorting they dropped at 50 bucks in a day that's how it works so people that say oh the futures market normal trading market it's all normal and and the price is determined based on you know individual trader um wants and that accurately reflects the physical market and gold silver or any other commodity it's not how it works there's a bunch of paper not tied to any physical outs that settle 50 bucks lower just because people wanted to come in and dump paper on the market and do that these contracts were not tied to physical they are by definition not deliveries how do we know because the deliveries are reported separately on the report so there's 364 000 contracts on friday february 26 364 000 paper and only 25 31 physical okay 364 000 paper 2531 physical over 100 and sometimes paper over physical in other words there's over 100 times paper claims on physical gold then there is gold being traded on these markets and that's called a smash down and that's not conspiracy theory that's straight off the numbers on the website undeniable proof that's exactly how the market trades these settlements have nothing to do with physical so when people say oh that's the price of gold on comex that reflects the interest in gold no it does not that reflects the interest in paper derivative that has very little to do percentage wise with gold because you have 364 000 compared to 2 000. you see the difference now if it were 5 000 compared to 2000 i would say the paper contracts at least were based 40 on real gold they have some semblance not a majority of but but some semblance no it's less than 100. in fact it's probably about 1 130th the two are not the same so when people quote the gold price to you and they're not looking at settlement data and they're not relating that to actual physical gold trade they're not talking about the gold market they're talking about some ponzi paper system which you might as well go into a casino in in rio or in vegas or atlantic city because it has nothing to do with gold okay it's not even one percent real gold not even one percent that is a fact in the numbers i just showed you an undeniable indisputable fact now there have been people going on certain shows talking about oh you know this is the real gold market this is a real silver no no no no ladies and gentlemen look at the volumes of paper compared to the volumes of physical and look at how much additional paper goes to the unallocated derivative odc market in london especially in gold and has been going into actual physical gold on the comex there you go so it has nothing to do with gold or silver itself when we're talking about the actual physical metals you can hold in your hand you can use in products you can store in your safe you can store overseas you know you can put into medical devices or computers or cars or whatnot the two are completely different and that is an undeniable irrefutable fact based upon the numbers i showed you so to recap today's video the shutdowns are causing major issues the governors in missouri and texas are getting flack for opening up but if you look at the numbers like i did they realize they have to or it could crash the system and once a sizeable bank goes down anywhere because all the banks are intertwined with their credit systems and the currency systems and the loans the whole thing is going to go poof across the world it's going to be a domino effect you cannot separate texas and missouri from the rest of the united states you cannot separate the united states banking system from the rest of the world it doesn't work that way anymore this is not 1905. this is 2021 it's a different system it's globalized intertwined system once any banks start going down that could cause a ripple effect if those are big enough to the rest of the banking system we also know that personal expenditures are going down saving rates briefly spiked but that was from government money so in other words it comes from taxes so it's robbing from one to give to the other that's not a sustainable way to grow the economy by definition especially when you add in the cost of transferring or the cost of government meaning that you're not going to get a one-for-one it's not like i'm giving one dollar to my neighbor and he's able to spend a dollar i'm giving a dollar to government they take their 23 inefficiency out and the next guy is getting 60 to 70 it goes down a black hole and they still haven't solved their problem and you see that in the delinquency rates the very first report i showed from transunion and the only thing that hasn't been affected so far is mortgage rates but remember the basel iii requirements the liquidity ratios and the rising mortgage rates you're gonna start to see that in 2021 that's going to change on the mortgage rates autos unsecured loans and bank cards have been hit those are the small the babies the big one the nuclear bomb of the banking system the is you're gonna see that that's the big one at least from a consumer perspective you're gonna see that start to break up in 2021 based upon the data i showed you so that's gonna be today's video guys thank you so much leave your questions down in the comment section i'll try to answer as many as i can until next time this is rob kings goldsoverpros.com