In The News Today

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Bill Holter’s Commentary

…and where exactly does the capital come from for this new special tool called “countercyclical capital buffer”? I think they’re going to need a bigger boat?

Fed Considers New Tool for a Downturn
August 13, 2019

WASHINGTON—Federal Reserve officials are weighing whether to use a tool that could reduce the risk of a credit crunch in a downturn.

The tool is known as the countercyclical capital buffer. It allows the Fed to require banks to hold more loss-absorbing capital should the economy show signs of overheating, or to keep less of it during bad economic times. The buffer applies generally to banks with more than $250 billion in assets, including firms such as JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc.


J. Johnson’s Latest – The Resolute Longs In Silver Have Yet To Blink!
August 13, 2019

Great and Wonderful Tuesday Morning Folks,    

     Gold has been making newer highs during the overnight with the trade now at $1,537.70, up $20.50 after reaching up to $1,546.10 with the low at $1,520.80. Silver seems to be leading the charge with its trade at $17.42, up 34.9 cents with the high so far at $17.49 with the low down at $17.035. With moves like these in the precious metals one would suspect the Dollar to have fallen but alas, it sits at the centrals support table with its value still pegged at 97.215, up 1.7 points and close to its low at 97.165 with the high at 97.455. All of this activity happened before 5 am pst, the Comex open, and the London close.  

     Our Emerging Markets currency watch is nothing but spectacular for the precious metal bulls! Down south in Venezuela, the Bolivar now has Gold priced at 15,357.78 proving a 199.75 Bolivar gain with Silver adding 4.444 Bolivar with its trade at 173.982. In Argentina, the Peso now has Gold priced at 81,394.88 Peso’s giving the people under that currency a whopping 13,199.54 A-Peso jump in value with Silver doing the same gaining 153.29 A-Pesos with its price at 921.968. The Turkish Lira now has Gold pegged at 8,633.40 showing a gain of 212.37 T-Lira with Silver gaining 3.4636 Lira’s with the price at 97.8137. Yes, it is still our opinion that these price jumps will occur in the primaries as well.    

     August Silver’s Delivery requests gained some purchases during yesterday’s actions with the count now at 210 fully paid for 5,000 ounce contracts, representing a jump of 20 demands for physical and with an early morning trading range between $17.315 and $17.31 and with a Volume of 2 up on the board so far. Of note during yesterday’s trades the Volume in August was way above 100 by the closing of the day giving us the idea that large swaths of EFP’s are still traveling over to London or the buyer of physical is a real manufacturer needing product not only now, but in the future as well. Silver’s Overall Open Interest is proving the Shorts are exiting the manipulation with the count now at 233,043 Overnighter’s proving 5,751 positions have left the field of play while Silver barely moved. We still have more to go, but if the Resolute Longs have finally gauged the play and are successfully pushing out the shorts, we’ll see not only the price of Silver jump, but the OI will continue to fall, how high the price and how low the OI goes is now on the front burner. So far, the Resolute Longs in Silver have yet to blink!