Comex Paper Precious Metals Open Interest Is Going Parabolic

• Comex Paper Precious Metals Open Interest Is Going Parabolic 
  by http://investmentresearchdynamics.com/  
  Since the end of May open interest has risen 14.23% while gold basis the stock market close has fallen 2.69%. Gold has been battered by a powerful short-selling campaign. MKS Geneva last night furnished the colorful remark:  “Shorts grew 12% last week to a new all time high. The position is about 3.6 times the size of the last 20 years average!!”
  – from John Brimelow’s Gold Jottings Report 
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  The price level and trading activity in the precious metals market – gold and silver specifically – has reached mind-blowing absurdity.  Make no mistake about it, the fact that the U.S. mint had to suspend sales of 1 oz Silver Eagles until at least early August is definitive evidence that the natural market function of price as a mechanism to balance supply/demand has been completely destroyed by the western Central Banks using the big bullion banks as their agents of manipulation.
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  As we already know, the silver open interest on the Comex has soared to preposterous levels to an open futures level which far exceeds the amount of silver produced by mines globally in a year: (chart top of post)
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  As you can see from this graph to the left, the open interest in silver is historically correlated with the directional price movement of silver.  This correlation blew up and the amount of paper silver open interest on the Comex began to go parabolic last summer, while the price continued to head south.  This is direct evidence that that Comex paper silver is being used to push down the price of silver.
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