Split Tongued Devils at the Helm
May 13, 2019
Good Monday Morning Folks,
We start our day off with some red across the board with Gold now at $1,284.70, down $2.70 and up from the low of $1,282.40 with a high at $1,289.20. Silver is leading the dip with its trade at $14.655, down 13.5 cents and right by the low of $14.64 with the high at $14.795. One would think the Dollar would be benefiting from this push but alas, it too is trading down at 97.09, off by 3.5 points in between a high of 97.165 and the low at 97.025. All of this negative trading has already happened, in the land that ignores the (Brexit) vote, just before 5 am PST, and our Comex open.
Gold’s price under the Venezuelans massively printed Bolivar now has the metal priced at 12,830.94 Bolivar, a loss of 11.99 with Silver at 146.367, losing .999 Bolivar. The other South American currency under stress, the Argentine Peso, now has Gold priced at 57,574.66 Pesos proving a loss of 612.85 over the weekend with Silver at 656.734 A-Pesos, losing 10.921 of value in what can only be called a damn good buy zone as they try to resuscitate the fiats value. Good luck with that.
May Silver Deliveries continue on in orderly fashion with the Demands for physical now at 323 contracts waiting for receipts and with a Volume of 13 posted up on the board so far this morning, proving a swap of 5 obligations during Friday’s trading period. As we’ve mentioned many times before the only way the precious metals can be controlled is by using paper contracts in order to “stay the price” as the buyers of physical take away as much as they can with the Overall Open Interest count now at 202,115 Overnighters proving an additional 1,464 more pieces of paper where needed for price control.
Bill Holter’s Commentary
It seems we told you the day after the ’16 election to look up who Judy Shelton was…
Judy Shelton, Trump’s Next Fed Choice, Favors A Gold Standard And Free Trade
May 13, 2019
Authored by Mike Shedlock via MishTalk,
Economist Judy Shelton, a Trump economic advisor and a gold standard advocate is rumored to be Trump’s next Fed pick.
Bloomberg reports White House Considers Economist Judy Shelton for Fed Board
The White House is considering conservative economist Judy Shelton to fill one of the two vacancies on the Federal Reserve Board of Governors that President Donald Trump has struggled to fill.
She’s currently U.S. executive director for the European Bank for Reconstruction and Development, and previously worked for the Sound Money Project, which was founded to promote awareness about monetary stability and financial privacy.
Case for Monetary Regime Change
On April 21, Judy Shelton had an ope-ed in the Wall Street Journal: The Case for Monetary Regime Change.