Posted May 22nd, 2019 by Bill Holter & filed under In The News.

That Must be the Best Duct Tape in the World Holding it All Together
May 22, 2019

Great and Wonderful Wednesday Morning Folks,   

      Gold is trading at $1,275.20, up $2 inside another tight trading range between the high at $1,276.30 and the low at $1,272. Silver is leading the mini-charge with its trade at $14.45, up 4 cents inside its own tight range between $14.455 and $14.37. The US Dollar is also stuck in between a bunch of non-volatility with its trade at 97.84, down 5.6 points after reaching as high of 97.97 before the buyers stopped with the low down at 97.81. All of this non-activity happened while we sleep, before 5 am pst, and the London close.   

      Our emerging markets gold for currency swap shows that Venezuela’s price for Gold is now at 12,736.06 Bolivar, regaining 31.96 in value with Silver recovering .898 with its current price at 144.319 Bolivar. Argentina, which lead the charge yesterday, now has the Peso/Gold swap valued at 57,112.44 losing 362.54 Pesos with Silver losing 2.425 A-Pesos with its price at 647.086. Our new addition, the Turkish Lira now has Gold priced at 7,790.46, a gain of 85.59 Lira with Silver now pegged at 88.2699, gaining 1.1964 Lira overnight. We see the level waters of the primary currencies unmoved, but those tributaries leading to the primaries are sure stirred up. We still expect one (if not all) of the primary currencies within the Dollar’s currency basket to go volatile. The problem we have is almost all of them (currencies within the basket) have serious issues within the central bank manipulations schemes, with any or all of their concerns, possibly sending the precious metals into the stratosphere pricewise, we simply don’t know which one goes first, or if that even really matters anymore.    

      Our May Silver deliveries carry on with the demand for physicals now at 225, dropping only 2 contracts into the delivered bin and with a Volume of 49 up on the board so far this morning with a price range between $14.40 and 14.39 (this is the real SPOT price, not Kitco’s). This is a super tight buyer/seller agreement and the antipodal of last week’s story, (is someone “not on our side” reading this too?). The big trading point is our Open Interest within Silver’s overall numbers with the count continuing to gain as another 367 more shorts got added to the fray proving the count at 210,854 Overnighters “staying” the trade (keeping prices steady). Our point being, the buyers, who are continually being punished for thinking Silver should be higher in value, are refusing to exit their positions as the shorts keep adding. Normally the buyers would cave by exiting their trade, bleeding and wounded. This may be another attempt at scaring the trade lower, but it could also mean the shorts are against the ropes. Only the deliveries will matter in this game, and when the shorts can’t deliver … Boom!!     

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Posted May 21st, 2019 by Bill Holter & filed under In The News.

There Is A Real Problem For The Central Shorts
May 21, 2019

Great and Wonderful Tuesday Morning Folks,  

     Gold is lower under the US Dollar with the trade at $1,272 down $5.30 with the low right here at $1,271.20 and the high to beat at $1,277.70. Silver is doing the same with its trade at $14.375, down 7 cents with its trade right at the low of $14.36 and our high to beat at $14.46. At least the Dollar is heading higher against the metals with the value pegged at 97.945 up 18.1 points and it too is right beside the forced number at 97.975 with the low to beat at 97.78. All this opposing activity was recorded before 5 am pst, the Comex open, and before the London close.    

     In Venezuela, Gold is now priced at 12,704.10, losing 38.95 Bolivar in value with Silver doing the same, continuing its slide downward with its trade at 143.421, losing .249 of a Bolivar. In Argentina, Gold has reversed with its trade gaining 6.95 Argentinian Pesos with the price at 57,474.98. Silver is trading at 649.511, it too regaining 2.17 A-Pesos. Since Turkey is now acting out by cutting its interest rates from 25.5% to 24% we’ll start looking at the power of precious metals under that currency as well with Gold now priced at 7,704.87 Lira with Silver gauged at 87.0735.    

     The Silver Deliveries for the month of May still have some intrigue to deal with as we see the demands for physical at 227 and with a Volume of 22 up on the board so far this morning, proving a drop of 126 demands as either receipts for physicals have been dished out, a short trader exited, or some EFP’s going to London, sometime over the past 3 days. Even though the price of the precious metals keeps getting played with, the real fear factor is not in the price but the numbers behind the price that is proving the thesis that there is a real problem for the central shorts who constantly try to scare the trade lower. No one on the Long side is getting out! That is our point here! The Overall Open Interest in Silver continues to climb with yesterday’s additions putting on another 979 more shorts in order to stay the price making the new total now 210,487 Overnighters. This is what most stock chartists cannot see nor understand. Commodities Open Interest and Volumes will be what tells us when the pressure is too much for the shorts, not the charts. Charts are like Hollywood, simply pretty pictures with no intelligence because the chart uses the fake prices to paint the exact opposite of what is really going on.  

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Bill Holter’s Commentary

It looks like “sunrise” for the vampires!

Transparency

READ: The transcribed interview of Trisha Anderson by the Committee on the Judiciary, joint with the Committee on Oversight and Government Reform.

READ: The transcribed interview of William Sweeny by the Committee on the Judiciary, joint with the Committee on Oversight and Government Reform.

READ: The transcribed interview of Loretta Lynch by the Committee on the Judiciary, joint with the Committee on Oversight and Government Reform.

. . .

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Posted May 20th, 2019 by Bill Holter & filed under In The News.

The Continuing Saga Of The Lone Ranger’s (Missing) Horse
May 20, 2019

Great Monday Morning Folks,    

      Gold is trading up at this very second, with the price at $1,275.90, up 20 cents inside a very tight trading range between $1,278.70 and $1,273.30. Silver is equally as flat, this time trading lower at $14.385, down 3/10ths of a penny with its range set so far between a high of $14.44 and its low at $14.355. The US Dollar is also equal in flatness with its trade barely making a move at 97.795, down 2.9 points after reaching as high as 97.875 before turning down with the low so far at 97.76. All of this non activity being done way before 5 am pst, the Comex open, and the close in London.    

      In Venezuela, the price of the real currency is taking a beating with Gold now at 12,743.05, losing 111.86 in Bolivar value with Silver at 143.670, losing .999 Bolivar. Argentina’s Peso has Gold priced at 57,405.48 proving a loss of 291.66 Pesos with Silver at 647.341, it too continuing to lose as another .806 A-Pesos have been removed over the weekend. Turkey’s Lira now shows Gold breaking thru its life of contract high over the past few days with Silver next in line, as we wait for the inevitable break in confidence within the primary currencies.       

      May Silver Deliveries remain the question with the total demand for physicals stuck at 353 requests with a Volume of 7 up on the board so far this morning showing no changes since Friday’s early morning count. This has been proven as typical since we’ve been writing up our early morning trade report, COMEX cannot seem to post real live data, even though all transactions are done in a computerized trading system. In short, all this data should be accurate, live, and without mistakes, and here we sit, still waiting for COMEX to catch up. Even the COT reports should be updated daily by now, Hello!! Silver’s Overall Open Interest remains elevated at 209,508 Overnighters proving only 94 Obligations left the field of play as very few “longs” have left the trade even as the shorts piled on almost all of last week.   

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Posted May 19th, 2019 by Jim Sinclair & filed under In The News.

China Doesn’t Want to Be Like the West
May 18, 2019

Theories abound for why the U.S.-China trade talks collapsed into stalemate, from misplaced overconfidence on the part of Beijing to President Donald Trump’s calculation that a tariff fight will boost his re-election chances. It helps to look beyond the political maneuvering and consider China’s history.

Throughout its 500-year relationship with the West, Beijing has sought to profit from its wealth without truly embracing its ideals and norms. That long-standing ambivalence is playing out in trade negotiations today, and probably doomed them before they even got underway.

The notion that China can be turned “Western” has been the mainstay of U.S. foreign policy toward Beijing since President Richard Nixon held his famous 1972 meeting with Mao Zedong. But the thinking goes back much further. In the 18th century, the European powers, frustrated by Chinese trade practices, wanted the Qing Dynasty to adopt its economic principles, too. Back then, China was more than happy to trade porcelain and tea for silver, but the court tightly controlled such exchanges. That seemed unfair to merchants who desired free trade. In 1793, the British sent a mission led by Lord Macartney to Beijing to plead for market opening and other reforms.

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Posted May 17th, 2019 by Bill Holter & filed under In The News.

The Lone Ranger’s Horse (Silver) Breaks Free! Or Did He?
May 17, 2019

Great and Wonderful Friday Morning Folks,   

      We start our last day of the week off with Gold trading slightly higher at $1,287.10, up 90 cents and close to the high at $1,289 with the low at $1,284.50. Silver is trading lower as well, but that depends on what contract one quotes with July’s price now at $14.485, down 5.4 cents with a high to beat at $14.555 and the low, close to where we are now at $14.45. The US Dollar’s trade is still benefiting with the price pegged at 97.75, up 7.2 points and right beside the high at 97.775 with the low at 97.59. Of course all of this is done while we sleep, during London’s trading time, before 5 am pst, and the Comex Open.    

      Our Emerging markets paragraph starts off with Venezuela’s Bolivar collapse, which made the precious metals soar over the past 2 years with Gold now at 12,854.91 showing another loss of 74.91 in Bolivar value being taken out with Silver now at 144.669 losing 3.06 in Bolivar value all during this overnight period. Argentina’s Peso now has Gold priced at 57,597.06 Argentine Peso’s, losing a huge amount totaling 643.41 A-Pesos with Silver now posting a price of 648.147 losing 17.372 in A-Peso value in what we call, “a cleaning by the shorts”.    

      The Silver Deliveries is where our focus has been for way too long and admittedly, with the way things have been going for our sector, I was thinking we may never see a jump in demand ever again. That is until yesterday’s trade when someone decided the low was here and placed a sizable order for physical as we witnessed an increase in May’s Open Interest now totaling 353 Contracts waiting for physical. This is an increase of only 55 Contracts which is nowhere near the additional trades made in May’s delivery contract which had a Volume of over 270 during yesterday’s beating. Someone stepped in and purchased over 1,350,000 ounces within the Delivery Month. Either to buy physicals, or to exit a near term hedge, or maybe it’s another level of EFP’s going to London. No matter what, this is huge and should mean something in support for High Ho Silvers price. The demands for physical has now pushed the May Silver price to $14.58, far above June’s price at $14.42, July’s price at $14.445, Sept Silver’s price at $14.52, with December’s at $14.63, oops! Now we have Decembers price at $14.60. Every single month of trade, with the exception of December’s price is proving demand is accelerating beyond the capacity to manipulate (in my opinion).   

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Posted May 15th, 2019 by Jim Sinclair & filed under In The News.

It Doesn’t Take Much to Stampede a Jittery Herd
May 15, 2019

Great Wednesday Morning Folks,   

      Gold is trading higher as we start the “too early to trade report” with the price at $1,298.40 up $2.10 after reaching $1,300.00 with the low down at $1,293.60. Silver is flat at $14.805, down .007 of a penny inside a trading range between $14.865 and $14.765. The US Dollar’s trade continues to find buyers with its value at 97.46, up 13.8 points and at the high with the low at 97.24. What really seems to be sticking out over the past several months is the complete reversal in all US Treasury Instruments making us think that something very very bad is happening and all the while, everyone, NOT part of the club, is kept out of the discussion, which means those in the club, are the ones in trouble. All of this activity of course was done way before 5 am pst and the Comex Open, also way before the London close.   

      Venezuela’s currency now has Gold priced at 12,967.77 Bolivar taking back a little (11.99) from yesterday’s move with Silver now at 147.865, gaining 5 cents worth of Bolivar value on top of yesterday’s gains. Argentina’s Peso has yet to see the slicing off of digits to the left of the decimal as it shows Gold’s price now at 58,350.50 losing some 116.83 in Peso value after the giant move in yesterday’s trade. Silver under the same currency is now at 665.321, losing 2.52 A-Pesos as the swings remain wild under the emerging markets. 

The May Deliveries in Silver seems to have slowed down a little with the demand for physicals at 295 fully paid for contracts waiting for receipts and with no Volume up on the board so far this morning proving a reduction of 12 but with no receipts being settled out as of late last night (thank you Harvey). It also seems the Algos are no longer churning the trade, at least since yesterday. What is meant by this statement is the early morning Volumes are only at 17,324 for the July contract which has an Open Interest Count of 154,126. In the past few months we’ve seen giant amounts of churn (in the Volume, in fact, some days the churn was more than the OI count) even when the prices are not moving. Now we see the exact opposite happening, a 10 cent swing in price with a low count under 18k in Volume, this could mean something and maybe even be a positive for the price. Stay Tooned!   

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Jim Sinclair’s Commentary

The latest from John Williams’ www.shadowstats.com

– INFLATION, PENDING ECONOMIC HEADLINES, MARKET TURMOIL
– Inflation Increase Reflected Gasoline Prices, Not a Booming Economy
– Real Average Hourly Earnings Declined for the Second Straight Month
– Weaker Than Expected Economic Reporting Looms
– Downside Revisions to First-Quarter GDP Should Follow
– Market Sentiment Should Begin Shifting Back Towards a Fed Easing

“Bullet Edition No. 9”

www.shadowstats.com

Posted May 14th, 2019 by Bill Holter & filed under In The News.

What Can Go Wrong When Everything Is So Wonderfully Controlled?
May 14, 2019

Great and Wonderful Tuesday Morning Folks,   

      Gold is under British pressure this morning with the trade below the Maginot Line at $1,299.60, down $2.20 with the low at $1,296.60 and the high to beat at $1,304.20. Silver, however, is trading higher and at $14.80, close to the high at $14.825 with a low at $14.745. The US Dollar is still seeing some rather large support from all overseas trades with the value pegged at 97.125, up .005 after reaching 97.20 with the low at 97.075. All of this was done way before 5 am pst and the Comex open.   

      Our view of precious metals thru the eyes of a South American in Venezuela now shows Gold at 12,979.76, a huge gain of 148.82 Bolivar overnight with Silver at 147.815 regaining all that was lost yesterday and more. Argentina’s Peso now has Gold pegged at 58,647.33 regaining a ginormous 1,072.67 Peso’s in the overnight with Silver’s gain equaling 11.107 Pesos at the price of 667.841. A friendly reminder here is Gold trades in a 100 troy ounce contract and Silver at 5,000 within the commodity sector. This is done in order to make international trades equal in size. In short, these moves are huge and are going to happen in other currencies as they too, start to fail.   

      The May Silver Deliveries on the Comex now shows a demand of 307 contracts waiting for physical and with a Volume of 1 up on the board so far this morning. This count proves a drop of 16 contracts and with Harvey Organ’s late night data points, proving 13 out of these 16 got delivered as we wait for more demands to reduce the amount of physicals which in turn will either kill the Comex, or force prices higher till more product becomes available. Our proof of manipulation in Silver shows up in the Overall Open Interest and even with yesterday’s Gold price pop, the manipulators added 1,903 more Silver shorts in order to stay the price with the total Overnight Obligations now at 204,018 pieces of paper in a system that is now totally controlled by algos that do not have real price value in mind at all, it’s all about price suppression.    

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Posted May 13th, 2019 by Bill Holter & filed under In The News.

Split Tongued Devils at the Helm
May 13, 2019

Good Monday Morning Folks,    

      We start our day off with some red across the board with Gold now at $1,284.70, down $2.70 and up from the low of $1,282.40 with a high at $1,289.20. Silver is leading the dip with its trade at $14.655, down 13.5 cents and right by the low of $14.64 with the high at $14.795. One would think the Dollar would be benefiting from this push but alas, it too is trading down at 97.09, off by 3.5 points in between a high of 97.165 and the low at 97.025. All of this negative trading has already happened, in the land that ignores the (Brexit) vote, just before 5 am PST, and our Comex open.    

      Gold’s price under the Venezuelans massively printed Bolivar now has the metal priced at 12,830.94 Bolivar, a loss of 11.99 with Silver at 146.367, losing .999 Bolivar. The other South American currency under stress, the Argentine Peso, now has Gold priced at 57,574.66 Pesos proving a loss of 612.85 over the weekend with Silver at 656.734 A-Pesos, losing 10.921 of value in what can only be called a damn good buy zone as they try to resuscitate the fiats value. Good luck with that.   

      May Silver Deliveries continue on in orderly fashion with the Demands for physical now at 323 contracts waiting for receipts and with a Volume of 13 posted up on the board so far this morning, proving a swap of 5 obligations during Friday’s trading period.  As we’ve mentioned many times before the only way the precious metals can be controlled is by using paper contracts in order to “stay the price” as the buyers of physical take away as much as they can with the Overall Open Interest count now at 202,115 Overnighters proving an additional 1,464 more pieces of paper where needed for price control.    

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Bill Holter’s Commentary

It seems we told you the day after the ’16 election to look up who Judy Shelton was…

Judy Shelton, Trump’s Next Fed Choice, Favors A Gold Standard And Free Trade
May 13, 2019

Authored by Mike Shedlock via MishTalk,

Economist Judy Shelton, a Trump economic advisor and a gold standard advocate is rumored to be Trump’s next Fed pick.

Bloomberg reports White House Considers Economist Judy Shelton for Fed Board

The White House is considering conservative economist Judy Shelton to fill one of the two vacancies on the Federal Reserve Board of Governors that President Donald Trump has struggled to fill.

She’s currently U.S. executive director for the European Bank for Reconstruction and Development, and previously worked for the Sound Money Project, which was founded to promote awareness about monetary stability and financial privacy.

Case for Monetary Regime Change

On April 21, Judy Shelton had an ope-ed in the Wall Street Journal: The Case for Monetary Regime Change.

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