Posted at 9:01 AM (CST) by & filed under General Editorial.

Great and wonderful Tuesday Morning Folks,

     Precious Metals are rarely allowed a follow thru day after a nice and positive move up is made like yesterday, with Gold now at $1,784.20, down $9.20 after hitting a low of $1,781.20 with the high so far today at $1,797.60. Silver is leading us lower, as usual, with the trade at $18.31 down 27.2 cents after hitting the London low of $18.235 with the high up at $18.68. The US Dollar finally did get overseas support with its value now at 96.90, up 21.9 points after hitting a high of 97.105 with the low at 96.555. Of course, all this happened already, before 5 am pst, the Comex open, the London close, and after Sven the trader, claims “Markets are basically just a liquidity meth lab”… with no earnings growth during the last few years, “it is folly to pretend markets are about anything else but the Fed”. One thing for certain, meth labs and currencies do blow up, as witnessed in our next few paragraphs.

     In Venezuela, Gold value is now priced at 17,819.70 Bolivar taking back 26.96 overnight with Silver at 182.871 showing a drop of 2.247 Bolivar. In Argentina, the Peso has Gold valued at 126,242.61 showing a gain of 134.27 with Silver down 12.22 A-Peso’s with the price at 1,295.51. Gold’s price in Turkey now sits at 12,251.21 Lira, showing a reduction of 19.81 with Silver losing 1.559 T-Lira with the last trade at 125.725.

      Here are some charts to ponder upon, Gold’s price under the Venezuela’s Bolivar rallied 502,617.91% in 3 years’ time. It’s unfortunate this same site removed the other currencies vs. Gold’s past multiyear rally, because they were substantially huger, much huger, in fact ginormous! Pardon my Trump-ette.  Argentina’s Peso only shows a 115.52% gain since last year, here is a chart between the Argentine Peso and US Dollar where the currency values are many % points higher past that 1 year period. Btw, the Argentine Peso is our highest printed blow up currency to date. Turkey’s Lira has also fallen against the US Dollar which also means Gold price rise was substantial as well. This is why we believe the prices of precious metals, under our dollar, just may meet, or exceed, these past facts as everything unwinds.

      July Silver Delivery Demands now stand at 3,401 fully paid for 5,000-ounce contracts and with a price range between $18.26 and $18.22 with the last buy at the high, proving a drop of 132 in the demand count since yesterday’s posts and with a Volume of 78 already up on the board. Yesterday’s activity happened between $18.64 and $18.21 with the last buy at $18.53 with the close lower at $18.504. The fear is rising and so is the Open Interest in Silver as another 2,117 more shorts had to be added yesterday or today the price would be higher with the total count now at 169,735 Overnighters going against the physicals.

      July Gold’s Delivery Demands now totals 861 fully paid for 100-ounce contracts proving a drop of 409 receipts either getting filled here at the Comex or EFP’d over to London, with this mornings trading range between $1,789.30 and $1,784.90 with the last buy at the low and with a Volume of 178 already up on the board. The fear is also showing up behind the price in Gold as well, as the Open Interest gained another 3,079 more short contracts in order to supply liquidity, bringing the early morning total to 559,945 Overnighters.

      To add more reasons to the fear trading in the markets, the U.S. Mint is upping its coin production, after shortages of stamped coins have been reported in the U.S., and after purchases dropped off until the CCP19 bio got out. The second half of 2020, the Mint estimates an increase production to 1.2 billion coins in June and 1.35 billion coins per month for the rest of the year– which would add up to a projected total of 14.2 billion coins produced in 2020. This helps point out the idea that people are leaving the crime ridden investment arenas where the regulatory bodies are equally as guilty as the perpetrators, and as things start to heat up in the failed debt markets, which leads right to Currency Devaluations, which leads right to Precious Metals Rising, like they did in our emerging markets currency watch. 

      Here’s a good thread of closing thoughts that can only be answered in time; Is it possible the Ginormous Precious Metals Deliveries inside our July demand count, is the US mint itself? Is this proof their normal supply chain got disrupted because of a lab-designed-bio that shut down a world for 60 days? Demand is Demand, and the US Mint is required to meet the physical demands, and here we are.

      Nothing can stop this derailing train of debt vs. currencies vs. precious metals. Yet those that hold the physicals, have a much better chance of retaining their purchasing power, while the world observes how much has to be printed in order to pay off a debt, that has been piled high to a level of uncollectable.

      Stay positive no matter what, it’s food for the soul in times like these. Have a smile on your face and a prayer for all, and as always …

Stay Strong!

Jeremiah Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.

Posted at 8:44 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Three time best-selling book author Nomi Prins says long before the Covid 19 crisis, the global economy was faltering big time.  The Fed stepped in with the start of massive money printing in late 2019 to save the day.  Prins explains, “We were already in crisis mode as I mentioned at the end of my last book going into 2019.  What did we see at the end of 2019?  We saw this pivot, and I call it phase two. . . . Central banks had pivoted to easing mode. . . . Come September, October, November and December, the Fed is producing repo operations.  Those are short-term lending operations that are supposed to be the purview of the banks . . . . The Fed is not supposed to get involved, but it did.  The Fed had all kinds of excuses.  It said it was not QE, but it was. . . . The debt at the end of 2019 for the world was three times GDP.  For every $3 borrowed, only $1 of economic activity occurred.  That’s what we started 2020 with.  Throw a pandemic into that . . . and you have a long drawn out financial and economic crisis.”

More…

Posted at 9:55 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Freedom of speech? Not so much anymore…

The 1st Amendment is First For a Reason (On Politics)_001

The 1st Amendment is First For a Reason (On Politics)_002

Bill Holter’s Commentary

Of course young people today cannot answer simple questions about history…because their “ignorance” has been planned and actually taught for many years. Send your kid to a trade school and they graduate with a skill. Send them to college and they come back with mush for brains and incapable of performing simple logic. History shows the best way to destroy a society is to destroy its roots. The easiest way to do this is to teach fake history or none at all, and erase erase erase any remnants of history so not even questions will be asked. As the oath states, “all enemies foreign and domestic”, it looks like the domestic type are most dangerous in today’s world!

VIDEO: Young Americans know nothing about 4th of July
July 2, 2020

Ahead of the Fourth of July, Campus Reform spoke with young Americans to ask them basic questions about the nation’s founding.

Young Americans and students were asked by Digital Reporter Eduardo Neret what the holiday commemorates, which year the country declared independence, which nation the United States declared independence from, and what which was fought for American independence.

Many could not answer these questions. Some answered that America gained its independence in the 20th century, while others said the corresponding war was the Civil War, World War I, and even World War II.

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Posted at 9:45 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

This is a good lesson in that if you do not hold it in your hands, it is not yours.

Dave

UK Court Recognizes Juan Guaido As ‘Unequivocally’ Venezuela’s President In Legal Fight For Tons Of Gold
July 2, 2020

The UK High Court has ruled that Venezuela’s legitimate president is in fact its self-proclaimed leader Juan Guaido, and not the elected Nicolas Maduro, in a bizarre legal battle for $1 billion of gold bullion.

The Bank of England (BOE) holds close to $2 billion of Venezuela’s gold for safekeeping. With both the Venezuelan government and the opposition laying claim to the fortune, the High Court has been tasked with deciding who deserves the funds, and said on Thursday that the UK “unequivocally recognizes” self-proclaimed leader Guaido as president.

“Whatever the basis for the recognition, her majesty’s government has unequivocally recognized Mr Guaido as president of Venezuela,” Justice Nigel Teare said on Thursday. “It necessarily follows that her majesty’s government no longer recognizes Mr Maduro as president of Venezuela.”

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Posted at 10:20 AM (CST) by & filed under Jim's Mailbox.

Jim,

Bill has warned readers that this was coming.

Dave

Extreme COMEX Delivery Demand Continues
June 30, 2020

Demand for physical delivery through the COMEX futures market continues, and this has significant implications for the future of the current fractional reserve and digital derivative pricing scheme.

It’s now mid-summer and the July COMEX contracts have moved into their delivery phase. The numbers are as amazing as they are historic, thus this updated summary is necessary today.

Back in late March, the COMEX nearly failed, as Covid-related sudden delivery demands in the spot gold market drove massive losses for many of the Bullion Banks. Much has been written about this since, so there’s no need to recap what happened. However, a handy summary—including an easy-to-understand explanation of the COMEX “delivery” process—can be found here: https://www.bullionstar.com/blogs/ronan-manly/the-…

Due to this near failure, the CME Group and the LBMA rushed to turn the COMEX futures market into a physical delivery vehicle in a desperate attempt to restore legitimacy to the derivative-only trading that takes place there. Remember, without underlying physical delivery, a commodity futures market might as well be trading baseball cards. Some physical delivery MUST be made at the futures contract price, otherwise the price discovered through futures trading is utterly illegitimate and fraudulent.

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Posted at 9:58 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

More geopolitics from Erik.

The Hopes I Had for Trump—Were Not Going To Be_001

The Hopes I Had for Trump—Were Not Going To Be_002

Bill Holter’s Commentary

Patriots need to stand up, this man makes the local call to arms!

Florida Sheriff Says He’ll Deputize Lawful Gun Owners If Law Enforcement Can’t Handle Protesters
July 1, 2020

CLAY COUNTY, Fla. — Clay County Sheriff Darryl Daniels shared a video on Tuesday, stating he will “make special deputies of every lawful gun owner” in the county if his deputies aren’t able to handle all the protesters.

In the three-minute video, the northwest Florida sheriff calls out “the mainstream media” and protesters as godless dissidents. He tells people to not “fall victim to this conversation that law enforcement is bad, that law enforcement is the enemy of the citizens that we’re sworn to protect and serve.”

Daniels then talks about law enforcement taking an oath “to support, protect and defend the Constitution of the United States and the government…And we end that with, ‘So help me God.'”

“But God is absent from the media’s message or Black Lives Matter or any other group that’s making themselves a spectacle disrupting what we know to be our quality of life in this country,” Daniels says.

More…

Bill Holter’s Commentary

If “supposed” US gold were used to balance the federal balance sheet…this number is TOO LOW! Before laughing or commenting, please do the math for yourself.

Gold At $64,000 – Bloomberg’s ‘China Gold Price’”
June 5, 2020

If China were to partially back its yuan with gold it would require a gold price of $64,000 per ounce, 50 times gold bullion’s price today, according to a recent article from respected Bloomberg Intelligence.

It seems like an outlandish forecast. However, as tensions between the U.S. and China continue to escalate such a scenario is not actually as implausible as it may first appear.

If China were to back its yuan with gold it would require a price of $64,000 per ounce according to a recent report from Bloomberg.

While Bloomberg give no details as to how they arrive at this figure, our “back of envelope” calculations would confirm that at its current value relative to the dollar the yuan would indeed require gold – priced in dollars – to be priced in the tens of thousands of dollars.

Chinese M1 money supply is roughly 33.64 trillion yuan which at todays exchange rate equates to around $5.4 trillion.

More…

Bill Holter’s Commentary

Don’t mess with the mayor’s house!

Seattle Police Dismantle CHOP After Protesters Threaten Mayor’s $7 Million House
July 2, 2020

The city of Seattle has finally stepped in and dismantled the anarchist CHAZ/CHOP district.

More…

Posted at 9:32 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Gerald Celente, a top trends researcher and Publisher of The Trends Journal, declared back in March that the “Greatest Depression” had already started.  Now, he says politicians who are power tripping “imbeciles and freaks out of their minds” closed down the economy for political gain in an attempt to stop President Trump from winning a second term in November.  Celente explains, “They destroyed the economy.  The economy is dead.  These little liberals, I am surrounded by them here . . . Cuomo loving liberals, when it started, they all said it will come back.  It’s not coming back.  The economy is dead, and the politicians killed it. . . . They are doing this as a power trip and to show President Trump is not doing the right thing.  So, they are looking at it like that. . . . If Trump were smart, and I think this is the card he is going to play, he’s going to blame the shutdown of the economy on the Democrats.  I don’t like either party because I am a political atheist, but he’s going to blame it on them and rightfully so.  Trump is going to say the reason you are out of work, the reason you lost your business, the reason you have escalating crime is because the ‘Democraps’ closed down the economy.  That’s the way I see him playing out the Trump card.”

In previous interviews on USAWatchdog.com, Celente predicted that when gold reached $1,485 per ounce, that it would begin to take off and never look back.  It looks like that prediction has come true.  Now, Celente says look for gold to be going much higher.  Celente says, “You look at gold prices.  Look at where gold prices are going.  How long have I been saying this?  When all this began, I said boom, you are going to see gold spike, and now it’s around $1,800 per ounce.  Silver is going to follow when gold breaks $2,000 per ounce.  It’s because this economy is going down, and it’s not coming back.  According to Yelp, 53% of the restaurants will not be reopening.  On average, 43% of the businesses won’t be reopening, and the bigs are going to gobble it up.  Here’s a headline, ‘Big hotels could benefit from aid.’  That’s right, more billions and billions of dollars are going to big hotels. . . . Why are the markets up?  The Federal Reserve is going to pump money into our big guys who got richer by about $650 billion since this started.  We are all becoming workers on the plantation of ‘Slavelandia,’ and here are some crumbs for you.”

More…

Posted at 9:18 AM (CST) by & filed under General Editorial.

Great and Wonderful First Day of July Folks,

     They can’t let the markets show the fear after it was discovered Shanghai had far more Copper than Gold in their Gold bars with Gold now down $4.80 at $1,795.70 after a new high was made at $1,807.70 with the London low right here at $1,792. Silver is also “not allowed” to rally like it did yesterday with its trade at $18.52, down 11.7 cents after it made a new high at $18.85 with the London low at $18.46. Our forever printed US Dollar still seems to have universal support from the central banks with its value pegged at 97.515, up 16.6 points with the London high nearby at 97.56 with the low at 97.205. Of course, all this happened already before 5 am pst, the Comex open, the London close, and after the Seattle mayor slammed protesters for showing no ‘regard for’ her ‘safety’ as demonstrators circle her home. We say to her, “if you like ANTIFA invading your city, you can keep them!” In fact, you should really enjoy feeding them and taking care of them at your home too. Btw, if you arrest them, they’re “get out of jail free credit cards” will allow them the chance to go back to your door, again, and again, and again. You, Ms. Mayor, own all of this, and it is your responsibility to protect everyone in your city, not just your voters, all of them!

      Venezuela’s price for Gold gained 143.82 Bolivar with the trade at 17,934.55, Silver’s value also gained 4.245 with the trade at 184.969 Bolivar. Argentina’s currency has Gold priced at 126,513.39 Peso’s proving a gain of 1,231.98 overnight with Silver gaining 40.84 A-Peso’s with the last price at 1,305.12. Turkey’s Lira now has Gold valued at 12,310.44, giving the noble metal a 98.41 T-Lira gain with Silver now worth 126.970 T-Lira, showing a gain of 2.911.   

      July Silver’s Delivery Demands now sit at 5,209 fully paid for contracts with a Volume of 284 already up on the board with a trading range between $18.705 and $18.405 with the last trade at $18.48, down 6.1 cents so far today. Yesterday’s activities inside the delivery month happened between $18.53 and $17.94 with the last buy at $18.465 with the Common Core Calculated Close up at $18.541, above all “buys”. A total Volume of 1,718 contracts swapped hands yesterday as 11,625 contracts somehow got lifted making yesterday’s comment “don’t expect much” looking weak. Yet how can 11,625 contracts fit inside a Volume that low? It is possible that this reduction is Mr. Resolute getting his receipts in immediate fashion? Even Harvey’s EFP data doesn’t jive with this drop either. Silver’s Overall Open Interest fell by 2,237 leaving a total of 169,476 Overnighters going against the buy. The reduction in the deliveries is far more than the Overall Open Interest, let’s see what happens from here.

     July Gold’s Delivery Demands now total 2,013 fully paid for contracts with a Volume of 237 already up on the board inside a trading range between $1,798 and $1,784.20 with the last trade at the London low, so far today. Yesterday’s trading activity inside the delivery month happened in between $1,793.20 and $1,774.40 with the last buy at $1,791.30 with a total Volume of 986, reducing the demand count by 2,479. The Shorts have to be in a panic now, as witnessed by the activity behind the price, as Gold’s Overall Open Interest jumped to 562,737 Overnighters as another 14,863 pieces of liquidity got added into the mix after the Shanghai Gold Bar Scandal.

     Remember when HSBC put into our markets a new level of CFTC preapproved paper right into Comex Gold without explanation? That approval caused Gold’s Open Interest to rise to a life of paper contract high of 794,541. That event just so happened to occur around the time when Silver was at peak paper, when the March Options came off the board, and sending the OI count from 246,078 down to 135,000 +/- with in a months’ time. Are they connected? Did the governing bodies help out? Is there hanky panky still going on even after Bart Chilton’s last interview with Chris Marcus where Bart stated the CFTC approved JPMorgan’s overleveraged Silver contracts? Did their “hidden from public view” agreement include Copper? Is this part of what the DOJ is looking into?

      We may never get all the answers we need, but one thing for sure; cheap prices cure cheap prices, and too high a price, cures too high a price. This describes the battle we’re in, on a global playing field, between Precious Metals and Uncollectable International Debt, as the world churns over a bio, and as our nation head towards an election where a foreign nation has accused one candidate, evidenced in a phone recording, explicitly detailing the quid-pro-quo arrangement, running against a president, who has withstood every single impeachment accusation, that can be made up out of thin air, comes to a head. Please God let there be a debate!

     Stay Positive, no matter what! It is my believe that Positive People live longer. Keep the faith and a Prayer for all, and as always …

Stay Strong!

Jeremiah Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.