J. Johnson’s Latest – Apparently, Physical Silver Is Priceless!
November 5, 2019
Great and Wonderful Tuesday Morning Folks,
Gold is lower in the early morning with the trade at $1,501.80, down $9.50 and right beside its low at $1,500.40 with the high at $1,511.90. Silver is still following with its trade at $17.96, down 9.6 cents and it too right beside its low at $17.94 with the high not that far away at $18.085. With the drop-in precious metals price, one would think the Dollar is in a super rally but alas, the fiat is up only 12.4 points with the trade at 97.48 and right beside its high at 97.50 with the low down at 97.275. All of this was done during London’s trading period, before 5 am pst, the Comex open, and the London close.
We apparently have a mishmash occurring in the emerging currency markets with the Venezuelan Bolivar rising causing Gold’s price to drop with the trade at 14,999.23 Bolivar, losing 133.83 in value with Silver at 179.376 down 1.897 Bolivar. In Argentina, where the zeros have yet to be lopped off the currency’s value (like Venezuela did a few years ago), Gold is now trading at 89,590.04 showing a loss of 794.18 A-Pesos with Silver at 1,071.34 it too losing 11.34 A-Pesos. In Turkey, the Lira now has Gold gauged at 8,626.14 Lira giving the holders of Gold a 6.61 T-Lira gain with Silver at 103.162 showing a lose of 0.085 in T-Lira value.
The November Silver Deliveries continue to confound me with its Open Interest numbers, which legally requires 100% margin in order to hold a position in the contract. Truly there can’t be someone trying to day trade inside the delivery month, the lack of liquidity is suicide to the day trader, so what are these numbers about? November Silver’s delivery count is now at 23 contracts waiting for receipts and with a Volume of 1 up on the board, and once again with no price. Yesterday, the Open Interest was at 16 which proves a 6 lot “buy”. So, where is the price for this increase in deliveries? Is Silver truly Priceless? Sometime during yesterday’s Comex trading period, the Volume went from Zero to 23 and with No Price once again! Spread trade, exit or entry, new purchases, yada yada yada, all require a price in order to sustain the math, yet even those people that work on the exchange cannot answer what is going on, and we’re supposed to trust the numbers? Not!
Bill Holter’s Commentary
Deutsche Bank is a dead man walking and will be far more meaningful than Lehman when they finally do go down. There were rumors last week of their bankruptcy, and now more rumors today. No matter how they paint the tape in precious metals today, the $64 trillion question when DB does go down is …got gold?
The Deutsche Bank Death Watch Has Taken A Very Interesting Turn
November 5, 2019
Authored by Michael Snyder via The Economic Collapse blog,
The biggest bank in Europe is in the process of imploding, and there are persistent rumors that the final collapse could happen sooner rather than later. Those that follow my work on a regular basis already know that this is a story that I have been following for years. Deutsche Bank is rapidly bleeding cash, they have been laying off thousands of workers, and the vultures have been circling as company executives desperately try to implement a turnaround plan. Unfortunately for Deutsche Bank, it may already be too late. And if Deutsche Bank goes down, it will be even more catastrophic for the global financial system than the collapse of Lehman Brothers was in 2008. Germany is the glue that is holding the EU together, and so if the bank that is right at the heart of Germany’s financial system collapses, the dominoes will likely start falling very rapidly.
There has been a tremendous amount of speculation about Deutsche Bank over the past several days, and so let’s start with what we know.