Posts Categorized: In The News

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J. Johnson’s Latest – The Silver “Manipulators” Are on the Wrong Side of the Futures Price!
November 13, 2019

  Great and Wonderful Wednesday Morning Folks,    

     We start the early morning with a positive price in Gold with the trade at $1,466.80, up $13.20 and close to the high at $1,467.60 with the low at $1,456.40. Silver is leading the charge this morning with the trade at $16.99, up 29.8 cents and right at the high’s double 00’s with the low at $16.720. The US Dollar isn’t doing anything in comparison with its trade at 98.225, up 7.4 points with the high at 98.300 and the low at 98.140. Of course, all this was done in preparation, before 5 am pst, the Comex open, and the London close.   

       Our emerging markets currency watch is quite explosive this morning with the Venezuelan Bolivar pricing Gold at 14,649.67, adding 124.85 to its value with Silver at 169.688 Bolivar, showing a 2.198 addition to its value. In Argentina, the Peso now has Gold’s price at 87,461.14 popping in an additional 579.29 Pesos to its value with Silver adding 11.21 A-Pesos bringing its value to 1,013.04 Pesos. In Turkey, Gold is valued at 8,443.52, showing an addition of 51.85 T-Lira in value with Silver at 97.8017 adding 1.0262 in T-Lira value. One day folks, we’re going to see these heavy fashioned additions added to the price of precious metals but under the US Dollar. They’ll Print it and We’ll prove it!   

       Our November Silver Delivery watch is proving to be a wonderful mess with the total demand count now at 27 fully paid for requests (for 5,000 ounces of Silver each) proving the Resolute Buyer stepped in again adding 22 (110,000 ounces) more buy orders to the mix with a trading range between $16.805 and $16.675 with the last trade of course being at the low end at $16.677, most likely being a 2 lot buy order only! This is where we have the issues, if there are 20 more purchases done during the day, why is the last trade always leading the price when it should be the bulk of the day’s trade? This is price fixing at the register folks! So far this morning we see a Volume of 7 up on the delivery board and with a trading range, ok, a single price for the high, low, and last, at $16.765. Is this price for 1, or 2, or all 7? That apparently is none of our business as far as COMEX is concerned.     Silver’s Overall Open Interest is still super elevated with the total count now at 222,630 Overnighters showing us an additional 251 more shorts had to be added in order to keep Silver from blowing thru $17.00 but it will when the last bar has left the controllers of print.  

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J. Johnson’s Latest – We Applaud The Resolute Buyer Of Silver At The Comex!
November 12, 2019

Great and Wonderful Tuesday Morning Folks,   

      Gold is trading lower again this morning, not because of physical supply increases, but because they can add paper to the printer anytime they want, with Gold now at $1,454.30, down $2.80 and recovering from the low at $1,449.50 with the high to beat at $1,457.80. Silver is just like Gold in that it’s all about the undeliverable paper contracts that are allowed to control the price instead of physical supplies, with its trade at $16.77, down 3.2 cents after dipping to $16.665 with the high to beat at $16.875. The US Dollar is still under support, even though it has to be printed, which should be driving its market price into the dirt, with its value now at 98.215, up 18.2 points with the high right here at 98.250 and the low at 98.055. All of this was done before 5 am pst, the Comex open, and the London close.      

      In Venezuela, Gold is now priced at 14,524.82 Bolivar proving a loss of 100.88 Bolivars with Silver at 167.490 showing a reduction of 0.70 of a Bolivar. In Argentina, Gold is now priced at 86,881.85 losing 430.52 A-Pesos with Silver at 1,001.83 losing only 0.18 of a Peso. In Turkey, Gold is priced at 8,391.67 proving a loss of 65.95 Lira’s with Silver now trading at 96.7755 losing 0.4677 of a Lira.   

      The Open Interest in the fully paid for contracts of November Silver, waiting to get their receipts for physicals, now stands at 5 and with a trading range between $16.805 and $16.785 and with a Volume of 17 posted so far this morning. The physical demands are proving a reduction of 25 contracts from yesterdays post and with 1 price reported during yesterday’s trade at $16.765 for a 5-lot purchase, yet with only this one price posted, the Comex felt the closing price should be 9 cents lower, at $16.675. This is proof that more paper instead of more physicals controls the price.    

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J. Johnson’s Latest – Silvers Resolute Resolution(s) Is At Hand!
November 11, 2019

Great and Wonderful Monday Morning Folks,   

      Gold is higher in the early morning with the trade at $1,464.40 up $1.50 after reaching $1,467.40 with the low at $1,459.50. Silver is tagging along with its price at $16.840 up 1.7 cents after reaching up to $16.91 with the low at $16.755. The US Dollar seems to be weaker in the early morning with its value pegged at 98.025, down 17.6 points and close to the low at 97.975 with the high up at 98.235. All of this happened before 5 am pst, the Comex open, the London close, and before the Resolute Silver buyers’ steps in again.   

      Venezuela’s Bolivar now has Gold priced at 14,625.70 giving the noble metal a 58.93 Bolivar gain with Silver at 168.190 Bolivars giving the holder a 0.85 Bolivar gain over the weekend. In Argentina, the Peso now has Gold priced at 87,312.37 A-Pesos giving the holder a 392.21 gain with Silver at 1,002.01 increasing it’s value by 3.49 A-Pesos. In Turkey, the Lira now has Gold valued at 8,457.62, increasing its value by 60.38 T-Lira with Silver now at 97.2432 T-Lira, giving the holder a slight 0.7832 T-Lira gain.   

      November Silver deliveries are confounding the sellers for sure and for certain with the demands for physicals now at 30 fully paid for contracts waiting for receipts proving an increase of 27 during Friday’s knock down day in price. Just to keep everyone up to date here, last Friday did have Volume of 31 up on the board, but the Comex doesn’t think a price was necessary to post this purchase(s), which is why we constantly look and criticize.  Comex has bad math skills, and they are using it to hide the transgressions we’ve claimed for years now. So far this morning, there is No Volume and No Price to post yet as we wait for Silver to be knocked down so the buyer can step in again. Something must have scared out some traders during Friday’s raid as the Overall Open Interest in Silver waned by 3,992 reducing the count to 225,261 Overnighters still in the trade. Remember these tallies are live and are not to be used against the closing totals given at the end of each day.   

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Jim Sinclair’s Commentary
Looks a little lopsided to me. IMO, the people with the biggest problem is the 1% of the 1%. What does a trillionaire do if, in fact, they are of the opinion that gold is a barbaric relic? They have to look toward resources, there is no other place to look if they don’t wish to continue being paper giants.

Richest 1% of Americans Close To Surpassing Wealth Of Middle Class
November 9, 2019

The U.S.’s historic economic expansion has so enriched one-percenters they now hold almost as much wealth as the middle- and upper-middle classes combined.

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Jim Sinclair’s Commentary

Bloomberg decides to become president. Index all of a sudden turns red.

This Red Alert Is Now Flashing On The Bond Trader’s Radar Screen
November 8, 2019

A bond-market warning light that glowed green for years is suddenly flashing red. The bad news for bondholders is that the last time this happened, it was accompanied by the biggest sell-off since the aftermath of the global financial crisis.

That indicator is the term premium, which, for both Treasuries and German bunds, has snapped back from last quarter’s record lows. The U.S. gauge is now on track for the biggest three-month increase since late 2016.

After a stellar rally through August, global bonds have pulled back in recent weeks as thawing trade tensions lightened the global economic gloom, sapping demand for the safety of sovereign debt. Rebounding term premiums now signal the sell-off has further to run — the measure of extra compensation for holding longer-term debt versus simply rolling over a short-tenor security for years is in an uptrend that investors and strategists say has only just begun.

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Jim Sinclair’s Commentary

The New York Fed added $62.542 billion to financial markets on Wednesday as part of the central bank’s ongoing efforts to ensure that the financial system has enough liquidity and that short-term borrowing rates remain well-behaved.

It would be nice to have a full description of the real why and when/if this will end!

Fed Adds $62.542 Billion To Markets Wednesday
November 6, 2019

The New York Fed added $62.542 billion to financial markets Wednesday.

The intervention came via overnight purchase agreements in which eligible banks submitted $55.042 billion in Treasurys and $7.5 billion in mortgage-backed bonds to the central bank.

Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a short-term loan of central-bank cash, collateralized by the bonds. The Fed’s injections are aimed at ensuring that the financial system has enough liquidity and that short-term borrowing rates remain well-behaved.

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Jim Sinclair’s Commentary

The U.S. collected a record $7 billion in import tariffs in September as new duties kicked in on apparel, tools, electronics and other consumer goods from China.

Market heralds supposed tariff progress.

U.S. Collected a Record $7 Billion in Tariffs in September
November 6, 2019

WASHINGTON—The U.S. collected a record $7 billion in import tariffs in September, fresh figures show, as new duties kicked in on apparel, tools, electronics and other consumer goods from China.

Tariff revenue jumped 9% from August and was up more than 59% from a year earlier. The revenue is a bounty for the U.S. Treasury, but is an increasing burden on the American businesses that import Chinese products—and their customers.

The new figures are based on an analysis of official Commerce Department data compiled by Trade Partnership, an economic consulting firm. The data was released by Tariffs Hurt the Heartland, a coaliti

The sharp rise was driven by a new 15% levy on consumer goods that went into effect Sept. 1. Imports of these items were valued at $111 billion last year, according to an analysis by The Wall Street Journal.

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Jim Sinclair’s Commentary

China, after years of pumping out financial support to keep companies afloat and workers happy, has embarked on a debt reckoning—rapidly building a bankruptcy system to take on a significant pickup in corporate defaults.

This approach beats TARP and 10 other acronyms to cover government support of US corporations in 2009.

China Embraces Bankruptcy, U.S.-Style, to Cushion a Slowing Economy
November 6, 2019

XI’AN, China—In the trenches of China’s debt-addled economy, the government has made a startling decision: Let companies fail.

That has left creditors angry, debtors fighting to save their businesses and judges on a mission to promote the benefits of bankruptcy.

After years of pumping out financial support to keep the economy humming and workers happy, China has embarked on a debt reckoning. Beijing is building a bankruptcy system to take on a significant pickup in corporate defaults.

The country now has more than 90 U.S.-style specialized bankruptcy courts to help sort through a morass of corporate debt that, until recently, would have been swallowed by state banks and other creditors.

It is a sign that Beijing is worried about the number of failing companies and trying to find a fix. The system is helping, many lawyers, foreign investors and lenders say, as it takes some pressure off local governments that lack the resources for so many bailouts.

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America’s Housing Crunch Is So Bad It May Hurt City Bond Ratings
November 6, 2019

Not only is the shortage of affordable housing and the number of homeless on America’s streets a social and public policy crisis, it’s increasingly becoming a risk for municipal-bond buyers as residents of high-cost cities struggle to make ends meet.

Home prices are up 33% nationwide over the past five years and the homeless population increased in Los Angeles, New York City and the Seattle metro area between 2014 and 2018, according to a report from Moody’s Investors Service. Failure to deal with these changes puts local governments’s bond ratings at risk as residents move to cheaper jurisdictions, spend less and use more social services.

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J. Johnson’s Latest – Silver Is On Sale And The Resolutes Know It!
Great and Wonderful Friday Morning Folks,   

      Sales abound in the paper contracts of the precious metals arena with Gold’s “On Sale” price now at $1,458.50 down $7.90 and close to the low at $1,457.00 with the high at $1,473.90. Silver seems to be getting the worst of it with its trade at $16.755, down 25.5 cents after hitting $16.66 with the high to beat at $17.095. Even all the madness of the political crowds can’t budge the US Dollar from its lofty heights with the trade at 98.155, up 16.6 points, it too close to the ridiculous, I mean, its high at 98.17 with the low at 97.945. All this paper being thrown around way before 5 am pst, the Comex open, and the London close.    

      The holders of precious metals may not be happy with the price drops, but the buyers are thinking just the opposite with Venezuela’s Bolivar now pricing Gold’s value at 14,566.77, dropping 265.67 Bolivar overnight with Silver now trading at 167.34 losing 7.69 Bolivar. In Argentina Gold is now valued at 86,920.16 dropping 1,685 Pesos with Silver at 998.52 Peso’s dropping 47.05 overnight. In Turkey, Gold is now priced at 8,397.24 losing 134.81 T-Liras with Silver now priced at 96.46 T-Lira, a loss of 4.20.   

      November Silver Deliveries proved Comex had the receipts to deliver 215,000 ounces of Silver (43 fully paid for contracts) yesterday, leaving the Open Interest at 3 and with zero Volume and no trading range so far today. We await our Resolute Silver buyer. The more the Resolutes buy the cheaper the Comex prices, Heads he Wins Tails he Wins – Eventually! Remember this is a game against the biggest criminal element in history, it’s not supposed to be easy.   

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J. Johnson’s Latest – Regardless of “Who”, Silver’s Resolute Buyers Continue…
November 7, 2019

Great and Wonderful Thursday Morning Folks.   

It looks like the price of Gold can’t shake off the weight of paper (for now) with the trade at $1,485.10, down $8.10 and close to the low of $1,482.00 with the high to pass at $1,493.60. Silver is still being kept within yesterday’s trading range with the trade at $17.525, down 7.3 cents with the low at $17.436 and the high at $17.645. The US Dollar’s trade is flat as can be with its value pegged at 97.805, up 4.1 points with the high right here at 97.85 and the low at 97.66. All of this was done before 5 am pst, the Comex open, and the London close.

      In our emerging markets currency watch we have declines in Gold but increases in Silver values across the board. In Venezuela, the Bolivar now has Gold priced at 14,832.44 showing a loss of 11.98 Bolivar for those that hold with Silver now priced at 175.03 Bolivar proving a gain of 0.748. In Argentina, Gold priced under the Peso is now at 88,605.16, showing a loss of 59.38 in A-Peso value with Silver holders seeing a price of 1,045.57 Peso’s proving a gain of 4.61 in the overnight. Over in Turkey, the Lira now has Gold priced at 8,532.05 proving a loss of 26.97 in T-Lira’s with Silver holders seeing their price under the Lira at 100.66 giving the holder a 0.205 gain in T-Lira value.     

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J. Johnson’s Latest – Is Today The Right Side of a V Bottom in Silver?

November 6, 2019

 Great and Wonderful Wednesday Morning Folks,    

      Gold has turned positive even with all that newly added “Never Ever Been Seen Before Life of Contract High in Comex Paper Open Interest” with the trade at $1,486.30, up $2.60 after the punch in the price gut low at $1,483.80 with the high at $1,490.30. Silver is simply not allowed to respond in kind as we observe the continual shorting without product as the paper game is allowed to overrule price discovery, until it can’t any longer, with its trade at $17.450, down 11.8 cents after being dipped to $17.36 with a high at $17.62. The US Dollar, really a basket of currencies set to trade against the precious metals, is down 18 points as well with the value at 97.625 and right beside the low of 97.61 with a high only 16 points from the low at 97.77. All of this activity happened before 5 am pst, the Comex open, and the London close.     

      Maybe observing the emerging markets currencies can prove how little the metals move under the US Dollar with all other currencies supporting the Dollar’s control (for now) with Gold, under the Venezuelan Bolivar now trading at 14,844.42, proving a 154.81 Bolivar drop in value of the first currency, as the government supports its fiat, with Silver now at 174.282 knocking off a hefty 50.94 in Bolivar value. In Argentina, the first currency’s price now stands at 88,664.54 showing a drop of 92.55 Peso’s with Silver at 1,040.96 Peso’s losing 30.38 A-Peso’s overnight. In Turkey, the Lira now has Gold pegged at 8,559.02 showing a loss of 67.12 T-Lira with Silver losing 2.707 with its price at 100.455 T-Lira.   

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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!   

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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.

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