Bill’s Commentary:
“One of them should have worn blackface? A world gone mad…”
California University Cancels Governor Debate Over ‘Blowback’ for Candidates Being All White
All white is not alright, apparently.
The University of Southern California abruptly canceled its planned gubernatorial debate that was set for Tuesday night after the college was criticized for all six candidates being white.
That led to “outrage” and “blowback” against USC and compelled the school to scrap the debate less than 24 hours before it started, according to The New York Times.
Bill’s Commentary:
“Our pal Brian on Hotel California back in 2005.”
HOTEL DEBT CALIFORNIA
In a dark desert country, Christmas coming fast
Congress still in session, 1913 here at last
Seven men in the chamber; a Fed Proposal fright
My head grew heavy and my sight grew dim
We signed the contract that night
This gave us free money, but war takes tolls on thee
Gold coins and certificates were outlawed by thirty-three
And I cried to my God: “What have I unleashed”;
In sixty-five silver coins were gone; how will we stop the beast?
Welcome to Hotel Debt California
Such a lovely rate (such a lovely rate) in a debtor state
Plenty of room at Hotel Debt California
Any time of year (any time of year) you can buy it here
Nixon is Japanese twisted, he’s refusing the French
No more Gold, only Fiat for you; but let’s still be friends
You’ll like reserve dollars; earn them with your sweat
Some work to save beast bucks, some work to pay debt
So I called up Magoo Man; I’ll pay gold for my stay
he said, We haven’t had that coinage here since long before yesterday
And still those voices keep calling from far away
Wake you up in the middle of the night, just to hear them say
Welcome to Hotel Debt California
Such a lovely rate (such a lovely rate) in a debtor state
They livin’ it up at Hotel Debt California
What a nice surprise (what a nice surprise) bring your alibis
MasterChip in your forehead, a pink invoice is nice
And she said we are all just prisoners here of our own device
At the master’s image, they’re bowing at his feet
They charge it with their bobbing bows but they just can’t pay the beast
Last thing I remember I was running for the door
I had to find the passage back to the place I was before
Relax said the high priest; we are programmed to deceive
You can charge-up anything you like, but you can never be free.
The latest from USA Watchdog –
Bill’s Commentary:
“It looks like it will not be the March delivery month…
As you know, I believed there was a strong chance of the March silver contract being the one to fail on delivery. January, a non delivery month, saw over 50 million ounces drained followed by February with 25 million. These amounts were roughly 7 times normal deliveries. March came along and it looked like 52 million ounces on first notice day. This was significant because for the last couple of years, whatever stood on first notice day increased and sometimes more than doubled by the end of the month. We now stand at 42 million ounces standing for delivery for March, a decrease of about 10 million ounces. What happened?
The pattern of increased demand during the current delivery month over the last two years mysteriously ended this month unless there is a rush for metal over the next few days. I am going to call this another hat and another rabbit because physical demand all over the world is extremely strong and inventories held have shrunk dramatically. Shanghai now only stands at 13 million ounces, a fraction of what is was, while COMEX registered has dropped to 73 million ounces from well over 100 million. I ask, why were January and Feb so strong while not primary delivery months, and March as a primary delivery month was a dud? I do not have the answer to this.
The above said, COMEX silver total open interest is only 111,000 contracts. This is as low as I can remember going all the way back 20 years. I view this in 2 possible ways – the lack of interest by traders playing in a rigged casino, or big money not wanting to play the game because they understand the potential problems for delivery? In any case, the supply demand situation is tenuous at best as we have been in deficit for 5 years. Last year alone demand exceeded supply by some 450 million ounces.
Gold and silver have/had become oversold and the bottoming process is in the works, “bottom” has probably already occurred Sunday/Monday AM. So, we sit and wait for the inevitable. The grand picture has always been money supplies growing faster than mining production, so price reflected higher prices with more cash chasing a nearly static supply. I still believe silver will be the one that breaks first with a failure to deliver… time will tell.”
Standing watch,
Bill Holter
BillHolter.com 