The Mega Metal Derivative Default…and God’s Work

One of the world’s largest silver miners, Glencore, is in deep trouble and the world is about to see what happens when one of the largest silver derivative counter-parties…blows up! Their derivative book is estimated to be over $19B with most of it being hedged metal. Mining companies hedge by selling their forward production…meaning they SHORT their own metal and cover it with their annual production. Of course being SHORT something like silver is a very dangerous game as your losses are UNLIMITED. Not that it’s going to matter when the company is on death’s door anyways…

Is Goldman Preparing to Sacrifice the Next Lehman?

http://www.zerohedge.com/news/2015-09-24/goldman-preparing-sacrifice-next-lehman

Yes, they can always just deliver their metal to cover their short but they have to still be in business to mine the metal! The big problem hits when they DON’T deliver those ounces into the market then the LONG side of the bet, the counter-party, is left with nothing. Of course it’s much more complex than that but throwing a $19B default into the derivative markets at this moment in time would not be a good thing for in this fragile game.

Of course the vultures are hovering to make it happen so they can feed off the “Metal Carcass.” From the Zerohedge article it sure looks like Goldman is wanting to crash the system…is this their “God’s Work” all over again?

Blankfein Says He’s Doing “God’s Work”

http://dealbook.nytimes.com/2009/11/09/goldman-chief-says-he-is-just-doing-gods-work/?_r=0

I’m going to post my latest interview tomorrow which will illuminate just what Woodrow Wilson was thinking in 1913 when he allowed the Federal Reserve System to be established…and it’s not what you think!

May the Road you choose be the Right Road.

Bix Weir

www.RoadtoRoota.com

PS – For answers to the million questions you may have it is all in my books…what’s coming is NOT an accident – it was all PLANNED long ago!


Book I: “Silver, Gold, Bitcoin…and God!”

http://www.roadtoroota.com/public/1530.cfm

Book II: “Out of The Darkness”

http://www.roadtoroota.com/public/1584.cfm

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