Posts Categorized: In The News

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The Global Economy Has Not Only Slowed, It’s Almost Stopped!
April 17, 2019

Great and Wonderful Hump Day Morning Folks,

     After all the days of morality beatings, we start this day of with a positive note with Gold trading higher at $1,278.10, up 90 cents after reaching $1,282.10 before the London button of control was pushed with the low right here at $1,276.80. Silver is trading higher as well at $14.942 up only 2.2 cents and at the low of $14.93 with the high so far at $14.99. It seems the US Dollar is getting more volatility then the precious metals are allowed with its trade at 96.575, down 7.7 points and up from its low at 96.46 with a high so far at 96.785. This is a 32.5 point swing with Silver doing 11.5 cents and Gold only a $5.30 swing all before 5 am pst and the Comex open. Apparently in Venezuela, Gold is still dropping hard in value with the latest pricing under a currency in heavy print at 12,765.02 Bolivar losing a whopping 89.89 overnight with Silver at 141.173 crushing Silvers price by 7.641 Bolivar. Amazing volatility, one day, it will be proven under the US Dollar, British Pound, and the Eurocurrency.

        April Silver Delivery Demands are still stuck at 1 with Zero Volume up on the board so far this morning. I watched all day yesterday to see if a fill would occur when a posted 28 count buy order was placed in the Bid at $14.945. It sat out there like a dead fish rotting in the sun all day long with no takers. Not that it matters anymore because it really does seem that the Comex pricing mechanism has become irrelevant when it used to be the place for real price discovery. The Open Interest in Silver continues to gain proving once again that the issues in Ag are only increasing the pressure under the lid as another 1,536 short trades are added into the Silver futures count now totaling 224,850 Overnighters in order to stay the price.. It proves pure and simple, this market is controlled, but only until there is no more physical to sell at this price.

       What’s amazing to me is how everyone who does not or never has traded in commodities, tells everyone else to stay away at the time when everyone should be salivating because of the manipulations and the slowing of physical extractions, and completely ignore the fact, that commodities are exactly where all the banks recover their losses when the time comes (Ag leverage at 5,000 ounces a contract). It really is frustrating to be in the commodities business when commodity firms are not allowed to talk openly, but everyone who doesn’t trade, disses the price mechanism everyone uses to quote. Who’s helping who by doing this?

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One Of These Days, Cheap Silver Prices Will Be Fixed By Cheap Silver Prices
April 16, 2019

Good Tuesday Morning Folks,    

       Our early morning precious metals trading report starts off the same way it did yesterday, all trading lower with Gold leading the dip at $1,287.10, down $4.20 with the low at $1,285 and the high at $1,291.70. Silver is following along with its trade at $14.90, down by 7.5 cents with the low at $14.875 and the high at $14.975. The US Dollar is down as well, just like yesterday, with its value pegged at 96.555 down .001 of a point recovering from its low at 96.505 with the high at 96.705, all this was done way before 5 am pst and the Comex open. It seems the money manipulators have the entire gambit under wraps as we look into the emerging markets failed currency, the Venezuelan Bolivar, which has pegged Gold at 12,854.91 losing another 25.97 Bolivar overnight however Silver is trading at 148.814, a positive gain of .25 Bolivar.    

     April Silver’s Open Interest remains at 1 and with zero Volume up on the board so far, unchanged from yesterday’s number. The biggest and most glaring issue in this pricing game is the fact that the manipulators have no fear what so ever about facing any penalties for breaking the laws regarding hedging positions as well as their antics with the EFP’s going into Britain. Silver’s Overall Open Interest continues to climb now totaling 223,314 Overnighters as 3,471 more shorts get added to the fray to stay the price, at the same time the Open Interest in one of the primary delivery months collapses early on, with the Open Interest in May just about ready to break down below 100k mark with the count now at 102,663 as the Options in the said month close out on April 25th and the last trading day for the paper longs in May leave on the 26th. One of these days, cheap prices will be fixed by cheap prices, it is the way all trading works, that is until recently.

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The Crowned Commotions of Silver and Gold
April 15, 2019

Great and Wonderful Monday Morning Folks,   

      We open up our week with our usual starting point, precious metals trading weaker with Gold leading the drop at $1,289.70, down $5.50 with the low at $1,287.70 and the high to beat at $1,295.20. Silver is down 8.8 cents at $14.875, 2 cents off its low with its high at $14.95. With the precious metals under control, the US Dollar should be doing something different but alas, it’s following the precious metals lower with the value now pegged at 96.47, down 12.8 points with its low at 96.415 and the high at 96.58. Of course all this was done way before 5 am pst and our Comex open. Our emerging markets view within the Venezuelan currency now has Gold pegged at 12,880.88 Bolivar, losing 59.92 over the weekend with Silver now at 148.564 losing .949 of a Bolivar as these gyrations swing hard and fast, but not in the primaries, yet!   

      April Silver Deliveries have been something to view over the past few weeks, but not today, as the Demands for Physical stay at 1 and with zero Volume up on the board so far this morning. Silver’s Overall Open Interest has been climbing a huge wall of worry with the early morning count still showing 219,843 Overnighters are still in play proving only 512 positions got out before the weekends trade. This is where we think all price issues will be corrected. The exchanges will run out of physical at these below production prices, however these trading hubs, will have to prove they are still a viable way of getting product and real price, or they will be blown apart and blockchained into correction, if they survive at all.     

      Britain is now being labeled a rogue state –  “a nation or state regarded as breaking international law and posing a threat to the security of other nations.”  The list of reasons are well defined in this article but it misses the most treasonous reason, the intervention into our election process here in the states, making many other nations wonder what else Britain has done for the sake of a crown? It seems we have much more to discover, especially since the City of London has been heavily involved with the Comex EFP’s in precious metals going to London for well over 2 years using this so called “emergency procedure”. We hope its only paper being sent over and not the physicals, time will prove all and now we wait for this weekend’s update on the special “U.S., European Banking Union, and UK Officials Meet for Planned Coordination Exercise on Cross-Border Resolution Planning” and it’s outcome which no one has followed up on yet. Oh to be the fly on the wall there!    

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Bill Holter’s Commentary

Jim Grant with stark truth!

The World-Wide Suppression of Interest Rates Has Been Something Very Near to a Crime
April 3, 2019

Once again, the expedition to go back to normal has been postponed. After the big market scare at the end of 2018, central banks have abolished their plans to tighten interest rates further. Wall Street loves it. The first quarter has been the best one for risk assets in a decade, and after Lyft’s successful going public, a record year for IPOs seems to be in sight. Jim Grant observes the madding crowd from a sober distance. «Interest rates are the traffic signals of a market economy. Turn them all green, and errors and pileups abound», says the sharp thinking editor of the iconic Wall Street newsletter «Grant’s Interest Rate Observer. He states that a decade after the financial crisis, many companies are so heavily addicted to easy monetary policies that they wouldn’t be able to survive on their own. Consequentially, the proficient value seeker has a hard time to find attractive investments in today’s markets. Where he spots rare opportunities, he tells «The Market» in this extended interview.

Mr. Grant, once again, the Federal Reserve is giving investors the green light. US equities are off to their best start since 1998. What’s your take on the current state of the global financial markets?

Stocks are up, bond yields are down and economists are speaking of full employment: Everything seems perfect and improving. But I remain a non-believer in these modern monetary methods. If it were this easy, mankind would have solved the economic problems a long time ago.

For quite some time, you have been warning that extreme measures like negative interest rates and quantitative easing will get us into trouble. But so far, the central banks remain confident that their policies are working.

What we see is an attempt to make things smooth and to forestall crises through keeping interest rates very low. But central banks are arsonists and firemen. They are arsonists because they strike the matches which set off the fire. It’s like an underground fire in a coal mine: You can see the smoke seeping up out of the ground and the ground is warm under foot, but you can’t see the flames. Then, time passes and the fire spreads and becomes more fierce and hotter. Finally, it bursts out of the ground. That’s in some way what happens in the credit markets.

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Bill Holter’s Commentary

Don’t miss this chart in John Hussman’s article.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“You Are Here…”
April 13, 2019

Excerpted from John Hussman’s Weekly Market Comment,

There are three principal phases of a bull market: the first is represented by reviving confidence in the future of business; the second is the response of stock prices to the known improvement in corporate earnings, and the third is the period when speculation is rampant – a period when stocks are advanced on hopes and expectations.

There are three principal phases of a bear market: the first represents the abandonment of the hopes upon which stocks were purchased at inflated prices; the second reflects selling due to decreased business and earnings, and the third is caused by distress selling of sound securities, regardless of their value, by those who must find a cash market for at least a portion of their assets.

– Robert Rhea, The Dow Theory, 1932

Charles Dow once wrote, “To know values is to know the meaning of the market.” That quote may surprise trend-followers and adherents of technical analysis, because Dow’s work is often squeezed into a caricature focusing on nothing more than confirmation and divergence across the Dow Jones Industrial and Transportation averages. But Dow’s actual views, best elaborated by writers like Robert Rhea and William Peter Hamilton, were actually about something much more fundamental: identifying the position of the market in its complete bull-bear cycle. That’s a concept that investors have forgotten, encouraged by the illusion that the Federal Reserve’s buying of Treasury bonds is capable of saving the world from any form of discomfort. That illusion is likely to prove costly.

Probably the most useful exercise we can do at present is to examine where the markets and the U.S. economy are in their respective cycles – with 19 charts and detailed analysis.

The recent bull market clocked in as the longest in history. Even if the September 20, 2018 peak in the S&P 500 was the final high, the preceding advance outlived the 1990-2000 bull market by nearly 8 weeks. Likewise, the current economic expansion is just 3 months shy of the record 10-year expansion that ended in early 2001, the unemployment rate is down to just 3.8%, the entire post-crisis gap between actual real GDP and the CBO estimate of potential real GDP has been eliminated, and the expansion has already outlived the previous runner-up, which ran from 1961 to the end of 1969.

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Bill Holter’s Commentary

Stating the obvious…but until now this thought process remained only among polite company.

Russia Says ‘New World Order’ Being Formed
April 12, 2019

Russian Foreign Minister Sergei Lavrov declared today that the Western, liberal model of society is dying, and a new world order is taking its place. Lavrov made the comments at his annual meeting with students and professors at the Foreign Ministry’s Diplomatic Academy, reported Russian state news agency TASS.

“The Western liberal model of development, which particularly stipulates a partial loss of national sovereignty – this is what our Western colleagues aimed at when they invented what they called globalization – is losing its attractiveness and is no more viewed as a perfect model for all. Moreover, many people in the very western countries are skeptical about it,” Lavrov said.

According to him, global development is guided “by processes aimed at boosting multipolarity and what we call a polycentric world order.”

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If You Can’t Take A Joke, Don’t Go To Britain!
April 12, 2019

What a way to start a Friday Folks!  

     The Good Morning report starts off with Gold trading higher after a day of forced shorts sending the noble metal sharply lower, only to see enough buying coming in sending Au to a high of $1,299.10 with the trade right now at $1,295.70, up $2.40 with a low at $1,294.30. Silver is leading the charge this morning after yesterday’s morality beating with the trade now at $14.97, up 10.3 cents with the high at $15.035 and a low at $14.90. The US Dollar has lost all of yesterday’s support with the trade now at 96.495, down 31.9 points just above the low of 96.425 with the high at 96.815. All this was done before 5 am pst and the Comex open. The emerging markets Venezuelan Currency now has Gold priced at 12,940.80 Bolivar showing an additional loss of 87.89 from yesterday’s beatings with Silver now at 149.513, a loss of .699 Bolivar.    

     April Silver’s Delivery demands sure got settled out during yesterday’s trade with the request count now at 1 contract waiting for physical proving a drop of 15 obligations and with Zero Volume up on the board so far this morning. With this kind of buying activity going on inside the delivery system one would suspect the short traders to lighten up the risk a bit but noooo! Instead, they added an additional 7,384 more short contracts to control (stay) the prices as we see the game reach its pinnacle as the total Open Interest in Silver is now at 220,355 Overnighters, yet Silver is now trading higher against the shorts …. Hmmm, with all this short pressure being applied keeping the prices (only) steady, one has to wonder how deep the pockets are of the buyers who are taking on the short trade at these cheap ass prices and at least 13 days away from the May Precious Metals Options Expirations.  

     Our eyes are on Britain this weekend with the supposed enforcers of western market law gathering at the “U.S., European Banking Union, and UK Officials Meet for Planned Coordination Exercise on Cross-Border Resolution Planning”. Such a fluffy name for a group that has already allowed the major banks to collude with one another till one got caught and ratted out the rest. We’re hoping some actual law enforcement may be finally applied, but these are political appointees, so we have to wait to see what they “don’t” do for now. Regardless of this gathering, the precious metals are bound to go higher because of all the international printing going on as it seems everyone has turned negative on economic growth.  

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This Game Of More Buying Making Prices Cheaper, Should Not Last Much Longer
April 11, 2019

Great and Wonderful Thursday Morning Folks,  

    The Monkey hammer is out with the beatings continuing till morale is improved with Gold down $9.40 at $1,304.50, right beside the low at $1,304.20 with a high at $1313.10. Silver seems to always lead the downside when the shorts force the issue with its trade at $15.04, down 20.4 cents and is the low with the high at $15.215. The US Dollar is not getting much of a boost from this push as the trades value is now pegged at 96.65, up 9.2 cents with the usual caveat, right at the high of 96.665 with a low at 96.50. All of this is done way before the Comex Open and 5 am pst. In Venezuela Gold is now pegged at 13,028.69, proving the markets took back 30.97 Bolivar with Silver at 150.212 Bolivar, losing 1.89 overnight.  

     April Silver’s Delivery Demands got an extra boost in purchasing yesterday as another 18 lot was added to the fray, yet the numbers on the board do not show the additions to the delivery count, with the April OI still at 16 demands for physical and with a Volume of 1 up on the board so far this morning. It is apparent purchasing doesn’t matter until they have nothing to deliver, so we’ll keep an eye on the numbers and report till our markets make the corrections of a life time. If this type of delivery issue is not evidence enough to prove purchasing at Comex no longer gives a real price discovery, then maybe the constant increase in the Overall Open Interest will help prove our accusations as the OI continues to climb with the count now totaling 212,971 Overnighters. The shorts added another 3,981 more positions to stay the price even though a larger purchase than was already scheduled was placed and settled. This game of more buying making prices cheaper, should not last much longer.  

     The past couple of days had lots of FOMC data and British BS to cloud the airwaves, but there was also more discovery presented providing evidence that the past administration was doing illegal spying on Americans because of party affiliation as Attorney General William Barr admitted on Wednesday that the Obama administration ‘spied’ on President Trump, and has vowed to get to the bottom of it. After yesterday’s finale with Maxine, friends, and AG Barr, Q posted;

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European Central Bankers “Stay” The Rates
April 10, 2019

Good Hump Day Morning Folks,  

     Gold is flat to lower this morning with the trade at $1,307.60, down 70 cents and close to the low at $1,305.10 with the high at $1,309.30. Silver, which gave us the sell signal after yesterday’s Comex close, is trading at $15.23, up 1.9 cents yet closer to the high at $15.25 than the low at $15.115, making a mess of things since this signal has been used by algos ever since instant messages became the popular review for investigators. The US Dollar has been steadily heading lower but not enough to scare out the foreign buyers, who are sopping up as much American debt as they can in order to escape the failings of the Euro, with the Dollars trade at 96.525, down 8.6 points and right beside the low at 96.51 with the high at 96.695. All this was done sometime before 5 am pst and the Comex Open. In Venezuela, Gold’s early morning price is now at 13,059.66 Bolivar, gaining another 19.98 overnight with Silver at 152.110, losing 1/10th of a Bolivar.    

     April Silver’s delivery demands fell by one contract during yesterday’s trade. I watched the sale occur, priced at 15.26 (a buyer and seller agreed), yet Comex closed the April Contract at 15.168, a fake settling price at the exchange. This was a single contract traded, yet they are able to game the price lower offering 2 prices, one the real buy, the other, a fake settling price (not a traded price). This is when they use the back month’s trades to “calculate” the deliveries settling prices, in our opinion, it should be the other way around. As far as this morning totals, we show the Open Interest in April Deliveries of Silver at 16 contracts with a Volume of 4 up on the board so far today. Silver’s Overall Open Interest continues to climb higher and higher with the count now at 208,990 Overnighters. A gain of 2,145 Obligations added in order to stay the price bringing us, once again, closer to the life of contract highs in OI at the same time Silver is way below the average production costs.    

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Jim Sinclair’s Commentary

The latest from John Williams’ www.shadowstats.com

– PENDING DOWNTURN IN ECONOMIC EXPECTATIONS
– New Recession Should Be Timed from November/Fourth-Quarter 2018 Peak; Fourth-Quarter 2018 GDP Faces Still Further Downside Revision; First- and Second-Quarter 2019 Real GDP Quarterly Contractions Loom
– Current, Positive Economic Expectations Should Drop Sharply, Following Heavily Negative Economic Releases, April 16th to 25th, Leading Into the Initial First-Quarter 2019 GDP Estimate on April 26th
– Series Facing Near-Term Negative Catch-Up Reporting and/or Intensifying, Negative First-Quarter Trends Include: Retail Sales, Production, New Orders, Freight Activity, Home Sales, Construction and the Trade Deficit

“Bullet Edition No. 6”

www.shadowstats.com