In The News Today

Posted at 10:44 AM (CST) by & filed under In The News.

J. Johnson’s Latest – Pay Attention To Ag’s Resolute Buyer And The Future Us Dollar Drop In Value!
September 6, 2019

Great and Wonderful Friday Morning Folks,

      Gold is continuing its price correction after yesterday’s push lower with the trade now at $1,513.10, down $12.40 with the London low close by at $1,510.90 and the high at $1,528.50. Silver seems to be leading the price drop with its trade at $18.21, down 59.7 cents with the low at $18.12 and the high at $18.63. The currency all eyes should be on, the US Dollar, is still being supported with its trade at 98.475, up 9.3 points and right beside the London high at 98.48 with the low that needs to be crushed at 98.285. All of this activity, going against everything price wise under our currency, happened before 5am pst, the Comex open, and the closing of London.   

      The emerging markets currency watch is showing the same price reversals with the Venezuelan Bolivar valuing Gold at 15,112.09 Bolivar showing a 382.52 drop in price with Silver now at 181.872 showing a loss of 11.286 Bolivar. In Argentina, the Peso now has Gold valued at 84,767.73 showing a reduction of 2,005.73 A-Pesos with Silver doing the same, losing 61.67 A-Pesos with the price at 1,020.15. The Turkish Lira is also doing its best to make the value of its fiat look better than the metals with Golds price losing 188.20 T-Lira with the official price at 8,633.37 Lira. Silver’s price now rests at 103.899 showing a loss of 6.046 in T-Lira value.    

      There sure was a lot of drama on the September Silver Delivery stage yesterday with the total count now standing for delivery at 1,100 fully paid for demands for physical proving a drop in count of 282 and with a Volume of 212 so far this morning with a trading range between $18.63 and $18.00 with the last trade at $18.235. Even though the count dropped 212, the Volume in the early morning report yesterday morning was 382 and by the end of Comex trade, the Volume was more than double the drop in count. This tells me the Resolute Buyer stepped in during the commotion and added a few hundred more physical buy orders at these cheap prices. Whether this is paper or not won’t matter to the market players, but that physical buyer will need the real product or his business is out of business.

More…

Bill Holter’s Commentary

Jim coined the phrase “QE to Infinity” many years ago…only now does the mainstream begins to recognize it?

Blackrock CIO: The Endgame Is Coming And Central Banks Will Debase Everything To Spark Inflation
September 6, 2019

Blackrock’s Chief Investment Officer, Rick Rieder, best known perhaps for recently suggesting that the ECB should monetize stocks, writes in the Blackrock blog today and highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and populism continue to thrive.

* * *

The major global central banks continue to draw bigger guns in their battle against deflation, yet in some places, it appears to be of no avail. The fact is that the share of sovereign yields that are in negative territory keeps increasing and the average level of these interest rates becomes ever more negative. Further, quantitative easing (QE) purchases of sovereign debt have transitioned to purchases of corporate debt, and in some places equities; with inflation still elusive and improved growth prospects in question. That all leads one to wonder where (and how) these policies end? What is today’s monetary policy endgame?

Turn to economic history for perspective

More…

Bill Holter’s Commentary

The UN pulls its pants down for all to see?

Head of UN Global Communications Says Illegally Entering the U.S. is a Right
September 6, 2019

The head of United Nations Global Communications says that it is a “right” for migrants to illegally enter the United States.

Writing on Facebook, Melissa Flemming asserted that, “the right to seek asylum is enshrined in Article 14 of the Universal Declaration of Human Rights & was made binding by the 1951 Refugee Convention.”

“It is never a crime to seek asylum in another country even if one enters a country irregularly,” she added.

As head of communications, Flemming, who is American, is also the spokesperson for the United Nations High Commissioner for Refugees (UNHCR), the same organization that Rep. Ilhan Omar advocated take control of the US-Mexico border last week.

“We should do what any other country does by dealing with this situation in a serious way,” Omar said during an immigration forum in south Minneapolis.

“So, we have to bring in the United Nations high commissioner on refugees, an agency that has the expertise and the training to handle massive flows of refugees humanely.”

More…

Bill Holter’s Commentary

…because the economic pie is shrinking!

It’s Happening Again: Maersk Halts Asia-Europe Loop Amid Global Slowdown
September 6, 2019

Growth in the world continues to collapse into late summer, so much so that Maersk and Mediterranean Shipping Company (MSC) had to “temporarily suspend” their AE2/Swan Asia to North Europe loop until mid-November, removing 20,000 twenty-foot equivalent unit (TEU) a week from trade, reported The Loadstar.

 

 

 

 

 

 

 

 

Collapsing demand and plunging shipping container rates have led to pain for carriers who sail their vessels along the route. This is the second time Maersk and MSC have suspended the circuit, and the last time this happened was last fall.

Maersk and MSC said it’s working hard to “balance its network to match reduced market demand for the upcoming [Chinese factory shutdown] Golden Week.”

More…

Bill Holter’s Commentary

Alan Greenspan knows…he has ALWAYS known!

Greenspan: Rising Gold Price Shows Investors Want Hard Assets That Will Increase In Value
September 6, 2019

Via SchiffGold.com,

During a CNBC interview, former Federal Reserve Chairman Alan Greenspan said gold prices are surging because investors are looking for hard assets that they know will have value in 20 or 30 years.

Gold is up more than 21% on the year and is trading at levels not seen since 2013.

During the interview, Greenspan focused on an interesting fundamental he thinks is driving both the bond and gold markets – the aging population. He said there has been a shift in time preferences as people recognize they will likely live longer and they will need to finance those longer lives. This, he says, is increasing the demand for hard assets like gold.

More…