To listen to the recording of the Saturday conference call go to free conference website Click on the “listen to recordings” link about half way down the page. Fill in the info and enter the conference code: 174526

I’m going to do a free conference call Saturday Aug. 22. The call will start at 9:00 am PST/12 noon EST. I’ll do a brief summary on where I think gold and oil are heading along with the stock market and then open the call up for Q&A. Everyone is welcome to join in and not just SMT subscribers.

Dial in code: 1-712-432-3082

Enter the conference code when prompted: 174526

I suggest using Skype, especially for overseas participants. A one month calling plan In the United States and Canada is $2.99. Overseas is $13.99 one month unlimited.

For those of you that want to follow along with the charts during the first 20 minutes of the conference call I will offer a trial $10 one month subscription to the SMT premium newsletter. Just go to the subscription page and register for a one-month subscription and I will refund $15 back to you. This offer will be good until the conference call starts at 9 AM Saturday morning.

I’m going to do a free conference call Saturday Aug. 22. The call will start at 9:00 am PST/12 noon EST. I’ll do a brief summary on where I think gold and oil are heading along with the stock market and then open the call up for Q&A. Everyone is welcome to join in and not just SMT subscribers.

Dial in code: 1-712-432-3082

Enter the conference code when prompted: 174526

I suggest using Skype, especially for overseas participants. A one month calling plan In the United States and Canada is $2.99. Overseas is $13.99 one month unlimited.

For those of you that want to follow along with the charts during the first 20 minutes of the conference call I will offer a trial $10 one month subscription to the SMT premium newsletter. Just go to the subscription page and register for a one-month subscription and I will refund $15 back to you. This offer will be good until the conference call starts at 9 AM Saturday morning.

CLICK ON CHART TO ENLARGE.

Many times over the last three years we’ve seen shortages develop in the precious metal sector, especially in the silver market. Just recently the US mint ran out of silver coins again. This has happened multiple times over the last several years.

So let me ask this question: Has there ever been a shortage in the oil market? Copper market? Grains market? 

No of course not. Why? Because price automatically adjusts to maintain equilibrium and prevent a shortage from ever occurring.

Gold has gone through bear markets before. It had a secular bear market from 1980 to 2001. To my recollection there was never a shortage during that time. As the new bull market started from 2001 till 2007 I don’t recall ever seeing a shortage during that period either. Why? Because price rose along with demand, automatically preventing any shortages from developing. Heck, even during the last big surge from 2008 to 2011 I don’t ever recall seeing a shortage in either of the metals markets.

However, since 2013 not only have we seen multiple shortages, but during this period we have seen regular attacks on the gold market with dumps sometimes it as large as 20,000 contracts, usually in the middle of the night. Again I never saw anything like this prior to 2013.

So my question is: If gold & silver are trading freely, and this is a natural bear market, then how in the world are shortages developing? In a free market, and in every other commodity market in the world, shortages are impossible. They simply never happen. They didn’t occur during the last bear market. Price automatically adjusts to prevent it.

Based on standard regression to the mean principles, this should mean that when the market finally breaks free the rally will be much larger and more aggressive than it would have been naturally, if the metals market had been allowed to trade freely.