In The News Today

Posted at 9:53 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Gold in the top 20 currencies has broken to new highs, it won’t be long until we see new highs for gold priced in dollars…

Gold Currency Index (Top 20 GDP Non-Weighted) (Aug. 29, 2019) – via http://goldchartsrus.com 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bill Holter’s Commentary

Inflation of the things you need and deflation of the things you have…where have you heard this before?

I’ve Never Seen Anything Like This”: China Reels As Pork Prices Explode To Record Levels
August 30, 2019

One could see it coming from a mile away, but still the breakout in Chinese pork prices as a result of the country’s “pig ebola” outbreak and the ongoing trade war with the US, is a sight to behold.

As the chart below shows, pork prices in China have soared to record highs in the past two weeks, adding pressure on a government trying to contain food-price inflation during the trade war with the U.S., even as the country’s Producer Price index posted its first negative print in 3 years, putting China in a bind: contain soaring food inflation, or stimulate the economy and risk an angry public backlash (something we discussed extensively two weeks ago).

 

 

 

 

 

 

 

 

 

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J. Johnson’s Latest – Silver SCHWINGS as China Suffers From Inflated Pork Politics!
August 30, 2019

Great and Wonderful last trading day of the month folks,    

We start our day with Gold’s price, which over the past month, has rallied $152.90 (at today’s price) and is now correcting a little, with the trade at $1,534.30, down $2.60 with the low at $1,530.60 and the high so far to beat at $1,541.90. Silver, which started the month out at $16.065, is now trading at $18.47, up $15.2 cents for the day and after pushing up to $18.575 with the low at $18.165. This makes Silver’s rally for the month $2.40 under the US Dollar. Hopefully we’ll see more additions to the price before the close of today. The control mechanism for the world’s economy, the US Dollar, is now at 98.485, up only 3 points after reaching to 98.55 with the low at 98.355. Of course, all of this was done sometime before 5 am pst, the Comex open, and the London close.     

      Our emerging markets currency watch has really shown the climb when currency values collapse with the Bolivar in Venezuela giving Gold a value of 15,323.82 Bolivar, losing 108.87 in value with Silver now at 184.469 Bolivar, it too seeing some end of the month settling showing a drop in value of 1.299. In Argentina, Gold is now priced at 88,808.96 showing a loss of 744.53 Peso’s overnight with Silver losing 9.13 Peso’s with the price now at 1,068.70. In Turkey, the Lira now has Gold at 8,953.84 T-Lira dropping 60.45 in Lira value with Silver at 107.798 Lira showing a 0.733 loss since yesterday’s early morning quotes. Not such a bad month at all for everyone holding onto precious metals while currencies lose value. Hopefully Silver and Gold are in your wallet, after all, the warning signs are everywhere.     

      We are now in the September Silver Delivery cycle with the total demand for physical Silver showing a contract count at 6,743 demands for physical, as we wait for those that didn’t get the call from their brokers that they are on margin call and need to get out of the contract or put the needed cash in to take delivery, with the Volume for this contract now at 532 so far this morning. Today’s trading range for the delivery contract is between $18.02 and $18.41 with the last buy at $18.33. We’re now seeing the Wayne’s World’s “Schwing” in the delivery price, plan on seeing more, and a lot more!     

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