Posts Categorized: In The News

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J. Johnson’s Latest – Will Silver’s Resolute Buyer Step In Again?
October 29, 2019


Great and Wonderful Tuesday Morning Folks,    

      Gold is continuing it’s forced price adjustment, even though the US Dollar’s digital printing can’t be hidden anymore with December’s price at $1,488.30, down $7.60 and right beside the usual London low at $1,486.50 with the high at $1,497.10. Silver has no choice but to follow along with its trade at $17.69, down 18.6 cents with the low at $17.675 and the high at $17.875. The over printed US Dollar is still the reason why our precious metals have yet to produce any new highs (for now) with its value pegged at 97.60, up 7.6 points after reaching up to 97.70 with the low close by at 97.51. All this was done before 5 am pst, the start of the FOMC 2-day meeting, the Comex open, and the London close.    

      Apparently, all international banker eyes are on the FOMC meetings (and subsequent ¼% rate cut) with Gold, under the Venezuelan Bolivar, now trading at 14,864.40 proving a loss of 179.77 Bolivars with Silver at 176.679 Bolivar down 3.446 in the overnight. In Argentina, Gold is now trading at 88,435.73 Pesos losing 1,818.01 with Silver at 1,051.13 taking out 29.55 in A-Peso value. The Turkish Lira’s value for Gold now stands at 8,533.56 Lira’s showing a loss of 101.35 with Silver now at 101.441 Lira’s showing a reduction of 1.945 in value.    

      Yesterday Silver’s trade was a disappointment price wise, but the amazing point was the Volume in trade that happened before the Comex close. We reported the Open Interest in the October Silver Delivery system to be at 20 and with a Volume of 5 up on the board with no prices. After our report, we got a trading range between $17.89 and $17.77 and with a Volume of 60 posted up on the board. This is three times the amount of Open Interest and before the Options expired. As of right now, the standing demanding Open Interest in the October Silver Delivery system is at 61, and with no Volume posted so far. Today at 10:25 am pst, the October Silver Delivery process will close then we start Novembers. As a side note, I do not recall this type of activity happening within a cereal month’s trading period. Will our Resolute Buyer step in again today? Stay Tooned!    

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Bill Holter’s Commentary

This is just more packing for the powder keg. Can you imagine what any meeting like this will look like after the markets collapse?  So you think the country is unrecognizable now…?

Where Hate Has A Home: Oak Park, Illinois – Videos
October 27, 2019

Despite national embarrassment from an initial incident earlier this month, many Oak Parkers are doubling down. They seem intent on making their town a national showcase for the manic intolerance of diversity of opinion into which identity politics have devolved.

It started at an early October Village Board meeting debating a statement on inclusion, particularly the term “system of oppression,” which some members thought might be interpreted as an unfair smear of the town’s police department.

That’s when Trustee Susan Buchanan let loose, telling the white males on the board to “shut up,” and much more. If you haven’t seen the video, watch it. Keep in mind that one of the targets of Buchanan’s comments was the mayor, Anan Abu-Taleb. He’s a Palestinian immigrant born in the Gaza Strip as the second oldest of 13 children and came to the Chicago area at the age of 18 to attend college. Among her comments:

You shouldn’t have an opinion on that. That is the point. Why do you have an opinion on equity? You’ve never experienced oppression so shut up…. Just stop… You are not oppressed…. Enough… You stop it! You are a white male. Your skin is light enough. Stop it.”

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J. Johnson’s Latest – Our Silver Options Watch is One of a Kind!
October 28, 2019

Great and Wonderful Monday Morning Folks,    

      Gold is higher in the early morning with the trade at $1,506.30, up $1.00 after reaching up to $1,510.80 before the controlling mechanism was called in with the low right at the price, $1,504.70. Silver is leading, for now, with its trade at $18.035, up 10.4 cents after reaching up to $18.145 with the low at $18.005. The Dollar is down 8.4 points after a few weeks of massive print with its trade at 97.515, inside a 22-point trading range between 97.665 and 97.445. All of this, of course happened while we slept, before 5 am pst, the Comex open, and the London close.    

      The Venezuela Bolivar is now pricing Gold at 15,044.17, losing 46.94 in Bolivar value with Silver now at 180.125 Bolivar, showing it too lost 1.148 in value. In Argentina, where they elected a new president, the Peso now has Gold priced at 90,253.74 Peso’s, proving a gain of 319.11 with Silver at 1,080.68, proving a slight gain of 0.37 in A-Peso value. The Turkish Lira now has Gold priced at 8,634.91 losing 75.81 in T-Lira value with Silver now gauged at 103.386 proving a loss of 1.244 in T-Lira value.     

      October Silver Deliveries ends tomorrow with the total count waiting for receipts standing at 20 and with a Volume of 5 up on the board with no trading range to offer so far this morning. I do see an offer out there to sell 3 contracts at $17.99 as the buyer waits. The proof that there is no manipulation (cough), is all in the Open Interest with the total count now at 223,220 Overnighters, proving an additional 4,690 more short contracts had to be added in order to keep Silver from exploding any higher than it did on Friday with that Friday high to beat, at $18.35. We wonder if it has anything to do with the November Options in Silver that is due to expire today at the Comex Close? As a reminder of the situation we’ve been watching over the past 3 years, the Option Board has not seen so much Open Interest as in the last ½ of this year’s tallies. Even going out to 2024, there is no accumulation in Silver options like we’re in right now, why?    

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J. Johnson’s Latest – Nothing Says Calm Like The Overall Open Interest In Silver
October 25, 2019

Great and Wonderful Friday Morning Folks,   

      Gold is trading higher with the December contract at $1,511.00 up $6.30 and close to the high at $1,512.70 with the low at $1,503.40. Silver is the early morning leader with its Christmas price at $18.15, up 34.6 cents after reaching $18.185 with the low at $17.80. Just to show everyone how everything is “just fine” out there on the side of the printers, the US Dollar is trading higher as well with its value pegged at 97.445, up 4 points with the high close by at 97.49 with the low at 97.34. All of this occurred while we slept, before 5 am pst, the London close, and before Comex takes the prices sharply higher.   

      Our emerging markets currency watch sure turned the corner today with Venezuela’s Bolivar pricing Gold at 15,091.11 giving those that hold a 176.78 Bolivar jump in value with Silver’s price increase showing a 6.092 Bolivar gain with the price at 181.273 Bolivar. In Argentina, the Peso’s price for Gold is at 89,934.63 proving a 1,966.81 A-Peso gain with Silver now at 1,080.31 giving those that hold a 47.10 A-Peso gain (do the math here with a 5,000-ounce contract). In Turkey, Gold is now trading at 8,710.72, proving a gain of 83.65 in T-Lira value with Silver at 104.630 T-Lira proving a gain of 3.257 in T-Lira value.    

      What a delivery day yesterday was, even with no trading range or price given, the October Silver Deliveries demand count dropped 85 contracts proving receipts were given out, with no idea if they were sent to London or where delivered here. So far this morning there is still no trading range and no sellers taking the higher bids that are offered. My guess is these sellers are waiting for much cheaper prices before they dump their holdings. Nothing says calm like the Overall Open Interest in Silver as the total count increased another 3,447 contracts proving yesterday’s little rally would have been far more substantial had the centrals been restricted like they should be with the total OI count now at 218,580 Overnighters.    

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J. Johnson’s Latest – We’re at the Nitty and the Gritty of this 3-year Silver Option Study
October 24, 2019

Great and Wonderful Thursday Morning Folks,  

     Gold’s is in a super tight trading range and under early morning pressure with the trade at $1,493.30, down $2.40 after being pushed down to $1,490.40 with the high at $1,496.30. Silver has no volatility either with its trade at $17.54, down 4 cents with its high at $17.60 and the low at $17.485. The US Dollar is having more movement then the real money with its trade now at 97.25, up 1.4 points after the push down to 97.055 with the high close by at 97.300. All of this non-trading activity occurred before 5 am pst, the Comex open, and the London close.    

     Gold’s trade under the Venezuelan Bolivar is showing a loss of 17.98 in value with the price at 14,914.33 Bolivar. Silver’s value in Venezuela is now priced at 175.181 Bolivar barely proving a nickel drop. In Argentina, Gold’s value is now priced at 87,967.82 giving the noble metal a 395.62 A-Peso jump in value with Silver at 1,033.21 Pesos, it too gaining 4.48 in the overnight. Over in the agreeable lands of Turkey, Gold is now priced at 8,627.07 Lira proving a loss of 17.08 in value with Silver at 101.373 Lira’s showing only a 0.066 T-Lira loss in value.    

     The October Silver Delivery requests shows a 22-count drop from yesterday’s trades giving us a total of 113 fully paid for (5,000 ounces per contract) requests waiting for receipts and with zero Volume posted so far today. Yesterday’s Delivery Month Volume reached 27 as the trading range widened to the upside giving the high price in the delivery month a post of $17.56 with the very last single order trade of the day at $17.49 with Comex’s closing price is $17.517. Silver’s Overall Open Interest remains elevated and it also gained another 554 more shorts in order to “stay the price” with the total count now at 215,133 Overnighters. Still to date the elevated count in Open Interest has yet to be reduced proving the shorts have to keep the count elevated or the price WILL explode.    

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J. Johnson’s Latest – Why Is the Silver Seller Not Taking The Higher Price When Offered?
October 23, 2019

Great and Wonderful Wednesday Morning Folks,  

     Gold is leading the trend so far with the trade at $1,495.10, up $7.60 and being pushed lower from its high already reached at $1,498.10 with the low at $1,490.70. Silver is still under the control of the Algo makers with the trade at $17.545, up 4.5 cents after reaching up to $17.615 with the low only 10 cents from the top. The US Dollar’s trade remains constant, as if all that printing doesn’t do anything but get spent with none of it showing up in the usual places with the trade at 97.315, up 5.9 points with its high at 97.39 and the low at 97.22. All of this of course was done while we slept, before 5 am pst, the Comex open, and the London close.  

     In Venezuela, Gold is now valued at 14,932.31 proving a gain of 47.94 Bolivar over yesterday’s price with Silver now at 175.231 showing a loss of 0.998 in the overnight. Argentina’s Peso now has Gold valued at 87,572.20 giving the real money a 621.81 A-Peso gain in value with Silver at 1,028.73 showing a drop of 1.86 in A-Peso value. In Turkey, the Lira now has Gold’s value pegged at 8,644.15 proving a loss of 51.13 in value with Silver at 101.439 it too losing 1.495 in T-Lira value.  

     Yesterday turned out to be a physical Silver buying frenzy at the Comex and all within that ½ penny range as the Volume jumped from 8 to 51 yet no additional price increases posted, including that 11 lot buy order offered 6.5 cents higher than the last. Why did the sellers not take that higher price when it was offered? Hello McGoverningBody! Selling at the higher price means more profits to the seller and he doesn’t want that? Am I missing something? Why is the seller not taking the higher price? We believe it’s about controlling the price and nothing else, and right at the delivery. We know these are additional buys because the Open Interest in the October Silver Delivery system jumped to 135 fully paid for contracts waiting for receipts, proving at least 23 of those 51 were real purchases, with the possibility of the other 28 replacing other buyers that were waiting to get their receipts which were finally delivered.

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J. Johnson’s Latest – We May Be Getting Into The Nitty And Gritty Of It All – Ag!
October 22, 2019

Great and Wonderful Tuesday Morning Folks,  

     Gold is trading higher this morning after yesterday’s very brief lead by Silver with Au’s trade at $1,490.30, up $2.20 after reaching $1,492.10 with the low at $1,484.00. Silver is following at $17.645, up 4.3 cents and close to its high at $17.68 with the low down at $17.455. The only thing that’s keeping the precious metals from moving higher without the controllers, is the US Dollar. We all know one day this turd will flush but until then, its value is pegged at 97.16, up 11 points and at it’s high (97.165) with the low at 96.99. Or course all of this was done before 5am pst, the Comex open, and the London close.  

     The corrections in the emerging markets are real encouraging since yesterday’s rally. In Venezuela, Gold is now valued at 14,884.37 Bolivar down 42.95, taking back most of yesterday’s gains but not all with Silver’s price under the Bolivar at 176.229 down 0.899 Bolivar, taking back less than half of yesterday’s gains. In Argentina, Gold’s price now stands at 87,041.33 proving it too lost 63.14 which is by far less than half of yesterday’s gains with Silver 1,030.59 A-Pesos, losing only 3.02 from yesterday’s 13.02 Peso gain. Over in Turkey, the T-Lira now has Gold valued at 8,695.28 showing a loss of 22.62 from yesterday’s gains with Silver losing only 0.303 in T-Lira value with its price at 102.937 Lira.    

     October Silver Deliveries now show a demand count of 112 fully paid for receipts waiting to take delivery, proving a reduction of 18 – 5,000-ounce contracts of Silver during yesterday trades. We also have a Volume of 8 up on the board this morning with a trading range between $17.49 and $17.485. I also see a buyer trying to get some product with a requested price of $17.55, 6.5 cents higher and with a buy order total of 11 with no sellers around. Hmmm. We may be getting into the nitty gritty of it all and real soon too. Yesterday, we were on the verge of a far more powerful upward move in Silver, that is until the shorts came in to “not control” but to add “liquidity” to the system by adding 2,426 more positions into the Overall Open Interest giving us a total of 213,801 Overnighters. This game will carry on till there is no more physical at these prices. With the way the sellers fill only the dip prices and not the higher buys, we may be seeing the stress in reverse.    

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Bill Holter’s Commentary

How does the saying go…out of my cold dead hands?

National Police Unions Refuse To Enforce Beto’s Gun Confiscation Plan If Elected
October 21, 2019

While Robert “Beto” O’Rourke’s plan for a mandatory buyback of “assault weapons” remains conceptual, many law enforcement officials have already assailed the proposed measure as “unconstitutional” and one they would not enforce.

Last week O’Rourke proposed a “visit by law enforcement” to collect banned firearms from holdouts of his proposed mandatory buyback of “assault weapons,’” such as AR-15s. O’Rourke appeared to reach that law enforcement conclusion after being pressed for details on how his plan would counter mass noncompliance by gun owners; however members of the National Fraternal Order of Police (FOP) and other law enforcement officials are already undermining that proposal, according to the Washington Free Beacon.

Several law enforcement officials reportedly called the gun control plan “ridiculous” and “asinine” and raised questions about its constitutionality.

A leader of the National Fraternal Order of Police—the nation’s largest police union, representing more than 330,000 sworn law-enforcement officers—said that not only was Beto’s plan unlikely to be constitutional but that Beto himself was unlikely to ever be elected.

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J. Johnson’s Latest – The Silver Options Anomaly is Still Right Here!
October 21, 2019

 Great and Wonderful Monday Morning Folks,   

      Gold is following in the early morning with the trade at $1,494.60, up 50 cents after reaching up to $1,497.70 with the low at $1,490.60. So far, Silver is leading the charge, at least during London’s time, with the trade at $17.735, up 15.7 cents with the high at $17.80 and the low at $17.53. The US Dollar, which has been under massive print, is still holding on with the trade at 96.945, down 6.3 points after reaching up to 97.13 with the low at 96.885. All of this happened before 5 am pst, the Comex open, and the London close.   

      We have nothing but green showing up across the board in our emerging markets currency watch. In Venezuela, Gold now carries a value of 14,927.32 Bolivar giving those that hold a 16.98 Bolivar gain with Silver at 177.128 giving those ahead of the curve a 2.097 addition to its value. In Argentina, the Peso now has Gold valued at 87,104.47, giving those that hold a 144.06 A-Peso jump in value with Silver now trading at 1,033.61, giving those that hold a very powerful 13.02 A-Peso jump in value. Over in Turkey where the currency is getting killed but no American Soldiers are, Gold is now priced at 8,717.90 T-Lira, giving those that hold an 84.39 jump in value with Silver now at 103.240, showing an improvement of 1.886 in T-Lira value.    

      Our October Silver Delivery watch now shows a demand count of 130 fully paid for contracts proving a 146 count drop in either physicals or paper, which might have been delivered here or in London via the EFP’s. Who the hell is allowed to know this information outside the central banking system caught in the crossfire of the DOJ anyways? So far this morning we show a Volume count of 17 up on the board with a trading range between $17.53 and $17.505 with the last trade being the high so far. Silver’s Overall Open Interest remains elevated but did lose 51 short positions since Friday morning’s count with the total now at 211,375 Overnighter’s willing to stay in the trade.    

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Bill Holter’s Commentary

Excellent writing by Daniel Amerman re US federal debt.  Very long but worth your time to read twice because as we have stressed to you, it all boils down to too much debt in the system.

Chapter 17: How A Soaring National Debt Can Reduce Retirement Standard Of Living By 77%
For over a decade now, very low interest rates have been reducing the earnings of retirement investors as well as the lifestyles of many of those who have already retired. To understand why this has been happening – and why it may continue for what could be decades into the future – one must recognize that there is a very direct relationship between the size of the national debt, and the interest rates that are paid to savers.

Using over 50 years of historical information on interest rates and the size of the national debt, in this analysis we will examine the change in interest rates since the national debt spiked upwards in the aftermath of the 2008 crisis. These dramatic rate reductions have the potential to lower the future U.S. national debt – compared to what it otherwise would be – by up to almost $50 trillion over the next 20 years. In other words, keeping interest rates far below historic averages is a matter of financial survival for a United States government that is currently over $22 trillion in debt.

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Bill Holter’s Commentary

Mifsud’s Phones Obtained By Durham Have UK Sim Cards Tying Them To The UK — AND BACK TO JOHN BRENNAN
October 20, 2019

General Michael Flynn’s attorney Sidney Powell a few days ago requested that the DOJ turn over the contents of two phones related to Joseph Mifsud.  We now know those phones were from the UK, the country that is more suspect than Russia ever was!

Sidney Powell on Tuesday demanded the DOJ “produce evidence that has only recently come into [the DOJ’s] possession. This evidence includes the data and metadata of the following two devices:”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Bill Holter’s Commentary

Is this guy for real and the global warmists full of crap? I know where my bets are placed…

Bill Holter’s Commentary

This is exactly what value investors look for…

Hedge Fund CIO: “Commodity Prices Are -23% Below Where They Were In The Depths Of The Global Financial Crisis”
October 20, 2019

Submitted by Eric Peters, CEO of One River Asset Management

Cost of Production

“The commodity index price is roughly at the cost of production,” said the CEO, trained in tracking supply and demand. “Prices sometimes falls below production costs, but those periods are brief,” he continued. We were reviewing his historical charts of a range of the world’s most important commodities, each told a story. “By our calculation, only four times has the average marginal cost of production been below the commodity index price: in 2001 it was -5% below, 2008 it was -7% below, 2015 it was -12% below, and now it’s -2%.”

“But in every other year since 2000, the commodity index price was substantially higher than the average marginal cost of production,” said the same CEO. “In 2002, the price was 20% above, and that was just one year after prices were -5% below production costs.” In 2007 prices were over 50% above. In 2008 they were -7% below. By 2010, prices were nearly 70% above.

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