And he’s back in his comfort zone of privacy at steemit (for now…).
J. Johnson’s Latest – FOMC Day as Silver’s Resolute Longs, Carry On!
June 19, 2019
Great and Wonderful FOMC Day Folks,
Gold is trading lower this morning with the current price at $1,345.90, down $4.80 after a few hours of pump and dump were applied once the market reopened with the high at $1,351.10 with the low close to where we are now at $1,344.80. Silver is leading the decline with the trade at $14.905, off by 8.8 cents and at the low with the high at $15.015. With the currency rollover being completed, September US Dollar is now at 97.055, it too trading down 9.8 points with the low at 97.045 and the high at 97.205. All this of course was done way before 5 am pst, the Comex open, and the London close.
The volatility is rising as the So American emerging markets will prove, with Gold under the Venezuelan Bolivar now at 13,442.18, showing a loss of 77.90 Bolivar with Silver at 148.864 showing a reduction of .349 Bolivar. Argentina’s Peso now has Gold priced at 58,539.61 chopping off some 993.31 Peso’s with Silver doing the same with its price now at 648.370 proving a loss of 8.647 A-Pesos. Over in the Euro-mess, Turkey’s Lira now has Gold trading at 7,880.70, losing only 19.3 in T-Lira value with Silver at 87.2979, losing .1016 (barely registering).
The June Silver Delivery demands is where it all matters with the total count posting 239 receipts waiting for physical, showing a loss of 1 from the previous day and with Zero Volume up on the board so far this morning. In fact, so far this week, we still do not have a “price traded” in the deliverable Silver month with today being all about the J. Powell FOMC “play of the day”. When it comes to the Overall Open Interest in Silver, the centrals are exposing themselves even more as the count needed another 6,700 more short positions in order to keep Silver just under that $15 handle with the total now at 238,985 Overnighters, proving we are just about at the point of contention as the Resolute Longs keep things real against the overwhelmingly large paper trade that will fail when the last bar is delivered. Still to date, the only question left is when is that last bar going to trade? We only need another Open Interest gain like yesterday to exceed the old paper count against the physical to break new ground. One day, the paper will fail, and we’re getting closer to that moment as the Resolute Longs, Carry on!
Jim Sinclair’s Commentary
The latest from John Williams’ www.shadowstats.com
– U.S. Economy and Markets Are Transitioning, and It Is Not Good News
– Excessive FOMC Rate Hikes and Tightening of the Last Year Have Pushed the Economy to the Brink of a New Recession, Exacerbated by the Shutdown
– Headline Back-to-Back First- and Second-Quarter 2019 GDP Contractions Likely Follow Still-Pending Reporting of Sharply Slowing Fourth-Quarter 2018 GDP; Consider Plunging Retail Sales, Production, Manufacturing and Freight Activity
– Unprecedented in 100 Years of Reported U.S. Manufacturing Activity, December 2018 Marked a Record Eleven Full Years of Economic Non-Expansion
– January 2019 Monetary Base Suffered Its Steepest Annual Decline Since Triggering the Second Down-Leg of the Great Depression
– Income Dispersion Worst Since Before the 1929 Stock Crash and Great Depression
– With a Tanking Economy, the Stock-Market Sell-Off Is Far from Finished; Political Discord in Washington Should Exacerbate and Intensify Market Instabilities
– Does This Concern the FOMC and Government Policy Makers? It Should!
– Driven by Energy Prices, 2018 Annual Inflation Measures Hit Multi-Year Highs, Not Driven by the FOMC Rate-Hike Canard of an Overheating Economy
– Time for Congress to Revisit the Concept of the Federal Reserve?
– U.S. Treasury Fiscal Operations Are Not Sustainable, Threatening Ultimate Financial-Market and U.S. Dollar Turmoil
“No. 983a: Updated ALERT, Advance Economic and Financial-Market 2018-2019 Review and Preview”