Posts Categorized: In The News

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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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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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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 by & 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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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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Trust And Follow Your Guts! (TFG)
May 10, 2019

Great and Wonderful Friday Morning Folks,   

      We start the last day of the week off with Gold trading slightly higher with the price at $1,285.90, up 70 cents as I watched London’s Algos force the natural price movement lower from the high of $1,287.60, as they attempt to push Gold below the low created so far at $1,283.90. Silver was not giving us the sell signal, till just now, with its trade at $14.755, down 1.8 cents at its low of $14.75 with the high at $14.83. These very low price movements are not doing anything to the currency trade as we observe our US Dollar not moving either with the price at 97.135, down 2.9 points inside another tight range between the high at 97.245 and the low at 97.095. Of course all of this was done before the Comex Open, at 5 am, and a few hours before the London close.    

      The Venezuelan Bolivar now has Gold priced at 12,842.93 proving a gain of 33.96 Bolivar with Silver’s trade now at 147.366 Bolivar, losing only .09 Bolivar cents during the overnight swing. Argentina’s Peso now has Gold valued at 58,187.51 A-Peso’s, gaining back 381.27 with Silver now pegged at 667.655 regaining 2.233 A-Pesos. We post these prices swings in order to keep the traders eyes on point. One day these huge swings WILL occur in the primary currencies, and that day is getting closer and closer.    

      May Silver’s Delivery demand count now stands at 328 contracts, with 100% of the funds already allocated and in position for the physical purchases with a Volume of 3 up on the board so far this morning. This proves a drop of only 38 receipts from yesterday’s count as the wait continues until there is no more physical to be had at these prices. There is a ton of non-movement everywhere in precious metals prices with the Overall Open Interest being stagnated with the count at 200,651 Overnighters proving 1,634 more shorts had to be added in order to “fake the price” as these Algos restrict virtually all movements in the “first currencies of the world” (Silver and Gold). It’s the Volume and Open Interest counts in the commodity sector that are controlling the prices, not supply and demand. This will change in time and most likely will be the last thing to be reversed. Then the Boom in price will happen.

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Bill Holter’s Commentary

If your knees are weak on silver, read this…it is factual!

Silver In Charts: Supply/Demand Crunch After Years Of The Opposite
May 9, 2019

The data is in: based on a review of reports from multiple consultancies, the silver market has officially entered a supply/demand imbalance. The structure now in place sets up a scenario where a genuine crunch could occur.

The silver price has been stuck in a trading range for five years now. But behind the scenes, an imbalance has been forming that could potentially lead to price spikes based solely on the inability of supply to meet demand.

That statement isn’t based on some far-out projection or end-of-world scenario. It comes solely from the latest supply and demand data. As you’ll see, it demonstrates just how precarious the state of the silver market is. And as a result, how easily the price could ignite.

Here’s a pictorial that summarizes the current state of supply and demand for the silver market. See what conclusion you draw…

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Bill Holter’s Commentary

My Cousin Vinny would call this “aidn’ and abettin'”, others might say accomplice?

Pope Issues New Law Requiring All Catholic Priests, Nuns To Report Clergy Sexual Abuse
May 9 2019

VATICAN CITY – Pope Francis has issued a new law requiring all Catholic priests and nuns around the world to report clergy sexual abuse and cover-ups by their superiors to church authorities, in a groundbreaking new effort to hold the Catholic hierarchy accountable for failing to protect their flocks.

The church law published Thursday provides whistle-blower protections for anyone making a report and requires all dioceses around the world to have a system in place to receive the claims confidentially. And it outlines procedures for conducting preliminary investigations when the accused is a bishop, cardinal or religious superior.

It’s the latest effort by Francis to respond to the global eruption of the sex abuse and cover-up scandal that has devastated the credibility of the Catholic hierarchy and his own papacy.

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The Silver “Sell” Signal Is Up Again
May 5, 2019

Good Thursday Morning Folks,   

      The Silver “Sell” Signal is up again and with Gold trading higher at $1,282.50, up $1.20 and close to the low at $1,280.40 than the high at $1,286.40. Silver is down 9.7 cents at $14.765 with the low at $14.755 and the high at $14.875. The US Dollar is trading at 97.415, up 2.7 points with the low at 97.31 and the high, close by, at 97.49. All of this was done at 5 am pst, before the Comex open, and the London Close.    

      The Venezuelan Currency now has Gold priced at 12,808.97 losing 78.91 Bolivar overnight with Silver now at 147.465 losing 1.499 Bolivar. The Argentinian Peso now has Gold priced at 57,806.24 taking back a large portion of the previous day’s activity, 600.67 A-Pesos to be exact, with Silver now pegged at 665.422, taking back 10.024 A-Pesos.     

      The May Silver Delivery requests are now at 366 Obligations waiting with money for the paper receipts to be dished out and with Zero Volume up on the board so far this morning. This is a drop of 133 contracts in the May Silver Delivery system. Silver’s Overall Open Interest continues to wane with the total now at 199,017 proving a drop of 574 Overnighters as we continue to hold onto our manipulated priced physical holdings and the knowledge that things will change in the future.     

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Can We Call This A Currency Crisis Yet?
May 8, 2019

Great and Wonderful Hump Day Morning Folks,   

      Gold is trading higher this early morning, up $4.20 with the price at $1,289.80 with the high to beat at $1,291.90 and a low we never want to see again at $1,285. Silver is still giving the sell signal that seems to be approved by the CFTC (since they refuse to do anything about it) with its trade at $14.915, down 1.1 cents after reaching, once again the $14.99 price before being pushed away from the Maginot Line with the low at $14.895. The US Dollar is trading lower with the value now at 97.27, off by 12.9 points in between a high of 97.375 and a low at 97.18. These prices were tallied before 5 am pst and the Comex open and a few hours before the London markets are stopped.     

      The Emerging Markets currency board now shows the Venezuelan Bolivar’s value of Gold at 12,881.88, a gain of 83.90 Bolivar overnight with Silver’s value now at 148.964, gaining .949 Bolivar. Argentina’s Currency called the Peso, is showing the Nobel metal at 58,406.91, a 1,127.80 A-Peso gain (X a 100 ounce contract) – DAM!!!), with Silver now gauged at 675.446 proving a gain of 13.616 A-Peso’s (X a 5,000 ounce contract) as the excitement (I have) about the future of precious metals prices, under the primary currencies, is getting harder and harder to contain.    

      Everything precious metals trading boils down to the delivery requests and that count now shows a total of 499 demands for physical with a Volume of 36 up on the board so far this morning. Harvey Organ’s nightly watch proved 150 Contracts got their physicals during yesterday’s trade which is only adding more intrigue as we see the systems supplies weakening and the demands continuing unchanged. Silver’s Overall Open Interest has waned a bit with the tally now at 199,591 Overnighters, proving a loss of 657 Obligations as we wait to see if the OI totals fall to 139,000 as the price swings to $50.    

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Jim Sinclair’s Commentary

The latest from John Williams’ www.shadowstats.com

– PAYROLLS, CONSTRUCTION SPENDING, TRADE, CONSUMER AND THE FOMC
– Even in a Bifurcated Economy, Growth Depends Upon a Financially Healthy Consumer
– Yet, FOMC Policies Still Strangle Consumer Liquidity
– Signs of a Deepening Contraction in the Monetary Base
– New Recession Remains in Play, Still Likely to Force FOMC Easing by September, Irrespective of Federal Reserve Protestations to the Contrary
– Headline Gains in April Payrolls and First-Quarter Gross Domestic Product Were Not As Strong As They Appeared
– GDP Showed Multiple Levels of Contracting Consumer Activity
– Advance March Trade Deficit Reconfirmed Collapsing U.S. Goods Consumption, Not Otherwise Fully Accounted for In the Advance GDP
– Amidst Downside Revisions, Total Nominal U.S. Construction Spending Contracted Year-to-Year and Quarter-to-Quarter; Last Seen Going Into the Great Recession
– April Unemployment Rate Declined to a Record-Low 3.58%, Amidst a Declining Labor Force, Reflecting Mounting Labor-Market Distress
– How Can Full-Time Employment Be In Decline With a Booming Economy?
– Downside Revisions
Likely Follow for First-Quarter GDP Growth

www.shadowstats.com