Posts Categorized: In The News

Posted by & filed under In The News.

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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J. Johnson’s Latest – Comexian Antics, Bank Failures, and The Power Of Print Failing!
November 4, 2019

Great and Wonderful Monday Morning Folks,   

      Gold is trading higher again as we wait for the “Comexian Antics” to start with the December trade at $1,515.20, up $3.80 with the high close by at $1,516.50 and the low at $1,510.80. Silver is up as well and equally unmoving as Gold with the December contract at $18.15, up 9.8 cents with the high at $18.18 and the low registered at $18.045. The US Dollar, which needs to be printed in order for the banks to keep Silver, Gold, and all commodities at bay, is now valued at 97.11, up 6.9 points and close to the high at 97.155 with the low just below the Maginot line at 96.975. All of this happened after daylight savings time, before 5 am pst, the Comex open, and the London close.   

      Gold in Venezuela is now priced at 15,133.06 Bolivar, proving a gain of 23.97 in value with Silver now priced at 181.273 it too gaining 0.25 of a Bolivar. In Argentina, the Peso has Gold’s value pegged at 90,384.22, a gain of 284.62 Peso’s since Friday’s early morning quote with Silver at 1,082.68, a gain of 2.99 A-Pesos. In Turkey, their currency, the Lira, now has Gold’s value pegged at 8,619.53 Lira, gaining 40.49 with Silver losing 0.554 in T-Lira value with its early morning price at 103.247 Lira.    

      Once again the “Comexian Antics” are carried forward as we still question the Comex numbers when it comes to the real factor of deliveries with the November Silver Demand Count now at 16 fully paid for contracts waiting for receipts proving a drop of 60 obligations and with no price given all day Friday and so far today as well. Were these demands for physical Silver delivered here, or in London, or is it one of those Comex things that is no one else’s business?     

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Citi Predicts The Greenback Could Weaken ‘Substantially’ — To As Low As 85 On The Dollar Index
November 1, 2019

The U.S. dollar index could fall to as low as 85 as the Federal Reserve grows its balance sheet again by purchasing more bond assets, a Citi strategist said Thursday.

“Our latest projections are that it would weaken even further — maybe to the high 80s, perhaps even as low as 85,” Mohammed Apabhai, head of Asia Pacific trading strategies group at Citi, told CNBC’s “Street Signs.” Technical analyst Daryl Guppy said last year that 85 is a “historical support level” for the dollar.

The dollar index is a measure of the greenback’s value relative to a basket of currencies, largely made up of the United States’ most significant trading partners.

The Fed increases its balance sheet by buying up bonds and Treasurys as a way of pumping cash into the market. That in turn makes bond yields — which move inversely to prices — drop as the bond prices rise. The dollar usually weakens when bond yields fall.

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Bill Holter’s Commentary

Do you own gold or silver and want something to chew on? How about this?

Chris Powell: Gold market manipulation update, November 2019
November 1, 2019

Remarks by Chris Powell, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

New Orleans Investment Conference

Hilton New Orleans Riverside Hotel

Friday, November 1, 2019

Since we gathered here a year ago the gold and silver markets feel much stronger.

The central bank-instigated smashdowns that used to depress prices for weeks or even months are failing to keep prices down for more than a few days.

The gold futures market of the New York Commodities Exchange is operating very differently. Most contracts seeking delivery are now being converted through a rarely used mechanism called “exchange for physicals” whereby they are settled somewhere off the exchange, apparently in London. Until recently the “exchange for physicals” mechanism was said to be used only in emergencies. Now it seems that everything is an emergency. The implication here is that there is little or no gold available immediately in Comex vaults. Whatever it means, there is a huge change here.

The “exchanges for physicals” seem to be rolled over in London every two weeks to escape ordinary reporting requirements. This implies that the sellers are trying to hide something. Of course that the powers in the gold market are trying to hide things is not new, but that they are using new mechanisms of concealment suggests that they are under greater strain.

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J. Johnson’s Latest – Did 1,140,000 Ounces Of Silver Really Leave The Comex?
November 1, 2019

Great and Wonderful Friday Morning Folks,   

      Gold is lower to start off the early morning report with the trade at $1,512.80, off $2 after reaching up to $1,517.20 with the low close by at $1,511.00. Silver is leading the trade at $18.125, up 5.8 cents with the high at $18.160 and the low at $18.035 so far this morning. Our US Dollar, the reason why Silver and Gold are kept under control, is trading at 97.060, down 9.4 points and falling from its high at 97.17 with the low close by at 96.970. All of this was done before 5 am pst, the Comex open, and the London close.   

      Today’s early morning emerging markets currency watch shows all positives again!  Venezuela’s Bolivar is now pricing Gold at 15,109.09 proving a gain of 44.94 Bolivar overnight with Silver at 181.023 Bolivar giving those that hold a 0.898 gain. In Argentina, the price of Gold now rests at 90,099.60 Pesos giving the holders a gain of 168.23 with Silver trading at 1,079.69 giving those holders a 4.36 A-Peso overnight gain. The Turkish Lira now has Gold valued at 8,660.02 Lira giving the precious metal holder a 30.73 T-Lira gain with Silver gaining 0.612 T-Liras with the overnight now priced at 103.801.    

      Yesterday we had one hell of a parlor trick done inside Comex’s November Silver Delivery System when we had a Delivery Count at 304 with a posted Volume of 1 and with no trading price. Later, after our early morning report, the Volume jumped to 79 with no trading range to offer. Now, the Open Interest in November deliveries is at 76, proving a drop of 228 and no price offered. This OI reduction is 3 times the amount of the Volume, exactly. Regardless of the bad math we have to work with, that was one hell of a delivery as 1,140,000 ounces got removed somehow on the last day of October.    

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Bill Holter’s Commentary

Would be very nice but will never happen…

Legislation Would Force Google and Rivals to Disclose Search Algorithms
October 31, 2019

WASHINGTON—Senate lawmakers proposed bipartisan legislation that would require search engines to disclose the algorithms they use in ranking internet searches and give consumers an option for unfiltered searches.

Search engines such as Alphabet Inc.’s Google unit use a variety of measures to filter results for individual searches, such as the user’s browsing activity, search history and geographical location.

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Bill Holter’s Commentary

Here’s some dollar friendly news for you!

India US Officially Suspends Defense Cooperation
October 25, 2019

In a major development brewing for sometime now, India and US have officially suspended Defense Cooperation after Americans refused to give India high-end jet-engine technology. At the heart of the Indo-US Strategic Partnership is what is known as the Defense Technology and Trade Initiative or DTTI. Under the 2012 DTTI, India and the US set up joint working groups (JWGs) for cooperation on aircraft carriers and jet engine technology, all of the 4 pathfinder projects have now been shutdown. The move comes days after former US Secretary of State and National Security Adviser Henry Kissinger’s visit to India.

India and the United States have suspended cooperation on jet engine technology under the Defense Technology and Trade Initiative (DTTI) that seeks to deepen bilateral cooperation and identify opportunities for sharing of high-end defence technologies, a senior Pentagon official revealed on Thursday. The US export controls is one of the reasons for dropping the cooperation on jet engine technology, she said.

“The original project (jet engine technology) we have is suspended right now but we are talking about other potential engine working groups. We could not come to an understanding of what exportable technologies will be useful to India and we did run into a challenge in terms of US export controls,” said Ellen Lord, the US under secretary of defense for acquisition and sustainment.

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Jim Sinclair’s Commentary

Russia’s foreign policy takes excellent advantage of any opportunity.

Planeloads of Cash From Russia Have Been Shipped to Venezuela
November 1, 2019

Hundreds of millions of dollars in cash has been shipped from Russia to Venezuela, providing a lifeline to the South American country as U.S. sanctions limit its access to the global financial system.

A total of $315 million of U.S. dollar and euro notes were sent in six separate shipments from Moscow to Caracas from May 2018 to April 2019, according to data reviewed by Bloomberg from ImportGenius, which compiled Russian customs records it obtains through private sources. The cash came from lenders run by the countries’ governments and went to Venezuela’s development bank, the records show.

President Nicolas Maduro Holds Press Conference

While the money could be for any number of things — like Venezuela repatriating cash held overseas or dividends from a stake in a Moscow-based bank or revenue from sales of crude or gold — the complex logistical feat shows one of the ways President Nicolas Maduro’s administration has sought to skirt aggressive U.S. financial sanctions. As a consequence of the scrutiny, the central bank is conducting more transactions in cash, sometimes offering local clients access to euro bills.

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Jim Sinclair’s Commentary

The weakness in all algorithms is their incapacity to function in repeated instances of volatility. Here is an example.

Futures Exchange Reins In Runaway Trading Algorithms
October 29, 2019

The Chicago Mercantile Exchange is cracking down on runaway algorithms in one of the world’s biggest futures markets.

Over the past two months, the volume of data generated by activity in CME’s Eurodollar futures soared 10-fold, according to exchange statistics. The torrent of data strained trading systems and prompted complaints to the exchange, traders said. It subsided Monday after CME took emergency measures to halt it.

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Jim Sinclair’s Commentary

If you haven’t listened to our interview with the author of Jekyll Island, I strongly recommend that you do.

Why the Fed Is Losing Potency
October 28, 2019

Federal Reserve rate cuts ain’t what they used to be.

Fed officials will almost certainly lower their target range on overnight rates by a quarter point at the conclusion of their two-day meeting Wednesday, marking the third cut this year. They have framed their efforts as insurance moves, aimed at cushioning the economy against the effects of slower global growth and tariff uncertainties rather than rescuing it from recession.

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Jim Sinclair’s Commentary

“Squeeze out” means goes broke.

The $4 Trillion ETF Industry Is Creating More ‘Roadkill’
October 28, 2019

Exchange-traded funds have swelled into a $4 trillion juggernaut over the past quarter of a century, but many asset managers say the industry is entering a new phase of competition and oversaturation that threatens to squeeze out smaller funds.

More than 90 funds have closed this year through early October, following a record 139 closures last year. Meanwhile, launches of new exchange-traded products, including funds and notes, peaked in 2011 and have remained relatively flat since dipping from that level, according to FactSet…

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Posted by & filed under In The News.

J. Johnson’s Latest – Spells Cast, The Vote is On, and The Precious Metals Trade Higher Muhahahaha!!
October 31, 2019

Great and Wonderful Hallo’s Eve Morning Folks,  

     The day the witches promised to cast a spell against Trump now has Gold trading higher with the price at $1,508.30, up $11.60 and right by the high at $1,510.30 with the low at $1,496.00. Silver is up as well, Muhahahaha, with its trade at $18.035, up 16.8 cents with the high up at $18.13 and the low at $17.795. The interest rate reduced currency called the US Dollar, is now trading at 97.085, down 35.9 points, bouncing off it’s low at 97.015 with the high at 97.255. All of this occurred before 5 am pst, the Comex open, and the London close.    

     It seems the emerging markets currency watch we do, proves how powerful the US Dollar really is when it comes to the international currency churn. In Venezuela, Gold is valued at 15,064.15 Bolivar, adding another 130.84 in value with Silver at 180.125 Bolivar, gaining 1.349. In Argentina, Gold is now priced at 89,931.37 Peso’s, giving those that hold a 1,118.57 A-Peso jump in value with Silver now at 1,075.33 proving a gain of 12.37 A-Pesos. In Turkey, the Lira now has Gold valued at 8,629.29 giving the metal holder a 71.56 T-Lira jump in value with Silver at 103.189 proving a 0.734 T-Lira gain overnight.  

     Today is the First Notice Day for the November Silver Delivery Demands with the Open Interest now at 304, proving a gain of 11 contracts since yesterday’s tally. So far this morning, we have a Volume of 1 up on the board with no price to offer (spread exit/entry/something else?). Silver’s Overall Open Interest is still elevated, even after yesterday’s attempts to scare out a few longs when the shorts added 1,187 more positions to the fray making the total count 222,682 Overnighters keeping the price of Silver Resolute.    

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Posted by & filed under General Editorial, In The News.

Bill Holter’s Commentary

Yes, free and unfettered markets…!

BOJ To Start Lending ETF Shares To Prevent Market Freeze
October 29, 2019

While most central banks are contemplating how to gently break it to the public that since they are out of ammo with interest rates at all time low, and $15 trillion in global sovereign debt is now yielding negative – a financial abortion which suggests the value of money is negative – the only hope markets have to avoid collapse is for central banks to start buying stocks in the open market, the BOJ has no such problems: after all the Japanese central bank (alongside its Swiss peer) has for years been quite open that it purchases stocks and ETFs directly. Unfortunately, in its efforts to stabilize the market, the BOJ has been purchasing a little too many ETFs and it now owns far too much.

Last May, speaking to Japanese parliamentarians, BOJ Governor Haruhiko Kuroda noted that the central bank now owns nealry 80% of the country’s stock of ETFs, the result of a program begun in 2010 and ramped up in 2013.

 

 

 

 

 

 

 

 

 

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J. Johnson’s Latest – This Is Silver’s Time Of Intrigue!
October 30, 2019

Great and Wonderful Wednesday Morning Folks,   

      Gold is trading higher under the US Dollar with the December contract at $1,495.20, up $4.50 with the high close by at $1,496.20 and a low at $1,489.10. Silver is higher as well with the December contract at $17.90, up 6.9 cents with the high at $17.92 and a low at $17.75. The US Dollar, which has had 100’s of billions of newly added print created in order to keep up with the bills it can’t pay, is now trading at 97.445, down 2.4 points with the high at 97.51 and a low at 97.36. All of this slow activity happened before 5am pst, the Comex open, the London close, and the very strong possibility of another 1/4% interest rate cut here in the USA.    

      We have nothing but positive trading in the emerging markets this morning with the Venezuelan Bolivar now giving Gold a price of 14,933.31 offering those that hold a 68.91 Bolivar jump in price with Silver trading at 178.776 giving the holders a 20.97 pop in Bolivar value. In Argentina, the Peso has Gold priced at 88,812.80 giving the holder a 377.07 A-Peso increase with Silver at 1,062.96 showing an additional 11.83 in A-Peso value. The Turkish Lira now has Gold priced at 8,557.73, it too showing an increase of 24.169 T-Lira with Silver at 102.455 offering a 1.014 uptick in T-Lira value.    

      Yesterday was the last trading day for the October Silver deliveries with the last count at 60. Today is simply a time out for Silver deliveries with tomorrow being the First Notice Day for the cereal month of November. A Cereal Month is a nice way to say “hardly any purchase” month. The November Open interest in Silver is now at 293 contracts and with a Volume of 1 up on the board with the price of $17.79 as a purchase and sell. FND is when all holders of long positions must have 100% of the margin in order to play the game. The sellers are supposed to have receipts for physical, with the spread traders owning all the background noise inside the hidden data of Comex (aka the moves without a price). 293 Contracts makes the delivery total 1,465,000 ounces of Silver (5,000 ounces per contract) possibly standing for delivery.   

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