Heads Up! J.J’s report will not be on Steemit anymore…
Great and Wonderful Tuesday Morning Folks,
Gold is doing it again, showing up on my screen in green (day 2), with the trade at $1,470.80 close to the high at $1,472.50 with the low at $1,464.20. Silver is following with its trade at $16.70, up 5.8 cents with the high at $16.735 and the low at $16.625. The real reason for the stale trades in precious metals is the US Dollar, and all the money laundering involved to keep the fiat elevated, with the trade at 97.535 down 7.4 points after dipping to 97.465 with the high at 97.630. All of this as done before 5 am pst, the Comex open, and the London close.
Our Emerging Markets Currency Watch shows rising prices in Gold and a very close shave for Silver. For instance, Venezuela’s Bolivar now has Gold’s price at 14,689.62 giving the holder a 19.98 Bolivar gain with Silver at 166.791 shaving off 0.05 of a Bolivar. In Argentina, their Peso now has Gold priced at 88,118.97 proving the holders gained 178.08 Peso’s with Silver’s price at 1,000.41 taking away 0.19 of a Peso. The Turkish Lira now has Gold’s value pegged at 8,528.12 Lira, gaining 9.26 with Silver now trading at 96.8319 barely shaving 0.0353 off of yesterday’s sale price.
The problem with all manipulations within the physical Commodities (not the fiat instruments) lies with the deliveries of the product. The system MUST have physical product in order to control the prices with the unlimited paper they use against the physicals. It is at this point when the markets are forced to find the price that will free up the physicals, which is why we observe the “Deliveries”, “Open Interest”, and the “Options” within the Futures Market. Yesterday’s activities in the December Silver Contracts showed a solid gain, not once but twice, during yesterday trade. I had posted the early morning Open Interest on Monday at 913 (4,565,000 ounces). Later in the day that count increased to 917, I’m not certain what this means because the Open Interest NEVER changes during the day, but it did and with a Volume posted at 138. Now we have to demand count at 968 requests for physical showing an increase of 55 more 5,000-ounce contracts demanding physicals bringing the demand count to 4,840,000 ounces of Silver and with a trading range between $16.59 and $16.555 with the last trade at the high with a Volume of 53 so far this morning.
Silver’s Overall Open Interest remains elevated and will do so till they run out of the physicals with the count now at 204,660 Overnighters proving a reduction of 2,019 short positions showing how precarious the short trade is really in. Once the physicals are drained from this system of delivery, we will see real price gains like those a few years ago when Venezuela, Argentina, and Turkey all reduced their currencies against the value of ours.
We must ask what things would be like if there was a fair playing field within the Futures/FX currency markets. Our fiat is being artificially supported by a market basket of other currencies. These other nations, that lift the value of our currency higher than it should be, are doing so they can keep the costs of their labor cheaper than ours. These same nations have also applied tariffs to our products and have been doing so for years. Now that Trump is doing the same to those that tariffed us first, it seems to be frustrating that basket of manipulators.
This market basket has become an oversized Weimar Cart, filled with over printed – not earned fiat, which has grown to the size of a wagon, with an ass pulling it. This ass drawn cart should be called The International Money Laundering Cart of Suppression, and maybe it will in the future, now that the Ukraine/Biden/Burisma is now front and center. The problem with Deep State is that their antics are being exposed on multiple playing fields to the point that Deep State is being cut, slashed, and crushed, by its own malfeasance, and with its own creation, the fiats. This is not a left/right fight, this is a fight we are all involved in whether we like it or not!
There is no escaping a fiat failure! The value of all currencies printed yet not earned, will devalue to zero PERIOD! It always has and it always will, because printing trillions of dollars on a regular basis, by those that always seem to always need it when their control of the markets goes awry, is coming to an end. The written history of mankind, even with all the BS by the “victor”, proves that HARD money (Silver and Gold) is the real money and everything else called money, is fake.
So, get the real while you can and keep in it in hand! No one knows when the fiats will finish the race at the Zero Hero Finish Line, but they always end there. Those that have Silver and Gold in hand will not suffer like those who hold the promise of a fiat. Have a great day no matter what, keep that smile your face and that attitude as positive as possible, and as always….