More Paper Is Applied To The Lie We Call A Price!

Posted at 9:07 AM (CST) by & filed under General Editorial.

Great and Wonderful Last Day of 2019 Folks!

    We have a good start for the last day of the year with Gold up $5.20 with the trade at $1,523.80 after being driven up to $1,529.00 before the “calming down” affect was put into play with the low at $1,517.50. Silver is tagging along as usual with the trade at $18.075, up 7.4 cents after reaching $18.20 with the low at $17.965. The US Dollar, which is the only reason why precious metals has not exploded in price (here), is still losing steam, and more than precious metals are rising, with its value pegged at 96.105, down 30.2 points and at the low of 97.085 with the high way up at 96.415. Of course, all this happened already before 5 am pst, the Comex open, the London close, and still not a peep from California’s Nancy Squad who is making sure they win against the majority vote by “Any Means Possible”, even if it’s unfair or illegal.

      Venezuela’s Bolivar now has Gold gauged at 15,218.95 Bolivar proving a gain of 85.89 Bolivar overnight with Silver gaining 1.598 Bolivar with the price pegged at 180.524. Argentina’s Peso, which has yet to have their currency digits reduced (like Venezuela), now has Gold priced at 91,254.18 Pesos showing a gain of 594.45 in A-Peso value with Silver now priced at 1,082.35 Pesos, a gain of 9.15 in the overnight. Over in the lands of Turkey the Lira, which has a closer value to the Dollar’s peg, now has Gold priced at 9,067.31 Lira showing a gain of 51.80 with Silver gaining 1.044 overnight with its last price of the year at 107.551 T-Lira.

      January Silver Deliveries are now in full swing with the Demand Count now at 233 fully paid for contracts (dropping 24 from yesterday) waiting for receipts to either take delivery here at the Comex, or get their pieces of paper sent over the trusting lands of London. Yesterday’s activity in January ended with a Volume of 82 and with a trading range between $17.91 and $17.85 with the last trade at $17.89 ending with an adjusted settlement price of $17.908.

      Over the past 4+ years, Silver’s Overall Open Interest has remained elevated, with the prices subdued because the burden of paper overwhelms real price discovery, and that has yet to lapse with this mornings count at 226,858 Overnighters proving 1,067 more shorts had to be “applied to the lie” we call the price. When it’s all said and done, the solution will present itself at the Comex!

      By law, the Comex is obligated to find these products at the prices they claim, or the entire Commodity Complex will melt Up/Down! The increased prices will include Precious Metals, Foods, Energy, Softs, everything physical that is traded at the Exchanges which in turn will leave all the bankers play toys (all debts, treasuries, currencies, et al) looking like paper-chaff on a windy day. The Crossfire Hurricane phrase may be an applicable expression when this happens. We’ll all be in it when the prices really move, and whether we like it or not. Preparation is why we write our missives.

     Gold is another one of those commodities that has a CFTC approved overbearing amount of paper applied to the price with last night’s World Record closing Comex Count at 772,683 Overnighters proving a paper increase of 5,606 more shorts as Gold gained only 50 cents. One has to wonder how many other commodity markets have this overbearing; paper shorts applied to the price we know is a lie? We must keep in the back of our heads the Q-Quote #2619; Yes. Gold shall destroy FED. How? Maybe by letting the criminal element have its way at first, then not allowing them to change the rules when they run out of product, like they did in 1980 with Silver.

     Happy New Year Everyone! Keep the attitudes positive, have a smile on your face no matter what, and as always …

Stay Strong!

J. Johnson