Posted at 11:19 AM (CST) by & filed under Bill Holter.

We received many e-mails and phone calls yesterday re the gold and silver trashing. First, this is not 2011 in any way shape or form. Back then, we were at the end of at least 2 1/2 years of very strong action coming off the 2008 GFC lows (or 10 years off the 2001 lows). Today we are less than 6 months off the lows. While physical demand was good in 2011, physical demand today is off the charts and stronger than ANY time in memory. In fact, Miles Franklin saw almost zero sells yesterday as the already very busy phone lines exploded with new buy orders!

Add to retail demand the fact that central banks bought nearly 20 tons of gold over the last 30 days. Understand, central banks do not buy gold to trade, it is an effort to shore up their shaky foundations because they know where the current financial lunacy leads to. Also, COMEX August deliveries look to be a barn burner! First notice day saw 143 tons standing which prior to this June was simply unprecedented. As of yesterday, that number has increased to slightly over 150 tons. Until about 18 months ago, standing amounts would always leak down into final delivery day, now each and every month sees queue jumping where the amount standing for delivery increases on a daily basis each and every month. Physical demand will mathematically overwhelm the available supply that paper exchanges can deliver, we are very close to this realization.

Yesterday’s action was kicked off with what I understand was a $4 billion paper order Monday night/Tuesday morning. We also have seen (and there have been many questions over the last week) the shares trade like crap for the last 10 days. This action in past years ALWAYS preceded raids on the metal prices. In other words, yesterday’s action was pre planned as so many past raids have been.

That said, we were certainly due a pullback from such overbought levels. We have been telling subscribers during our weekly calls to expect huge volatility that would only grow larger over time, it has certainly begun. Jim mentioned to me this morning that he is encouraged to see such high volatility so early in the move. Normally volatility does not rear such a large head until later in moves…but, this is gold and silver we are talking about where “unofficial” coordinated attacks occur. If you thought silver moving 7% higher several days in a row was volatility, just wait!

Many were looking for a pullback to make purchase or further purchase. You may have gotten the full correction yesterday or possibly more to come. In any case, this is the third, final and most exciting leg of the bull market in metals! Another way to say this is; the end and final meltdown in fiat currency is in sight. And with that, our advice as it has been for the last year or more is that this is the rally in gold and silver that should not be sold until a new currency comes forth that can be trusted. To be trusted of course will mean some sort of real backing and not just a promise the check is in the mail.

Stay calm and understand “why” you bought gold or silver in the first place. If you purchased to “make a profit” then good luck to you. If you bought to get out of the system (GOTS), then stay out of the system and move further capital to safety on this pullback if able. As for volatility, the last couple of weeks and yesterday are only the beginning tremors before the total eruption which also means the meltdown of fiat and credit. Please use your common sense and your own eyes to see credit (which is now 120 days late all over the world) is broken to the point it cannot be fixed. The explosion in global demand for metal is a direct result of big money understanding the only place to hide in a credit meltdown can only be where liability does not exist. There is ONLY one financial place in the world where liability does not exist, and you witnessed a coordinated effort to scare you away from it yesterday…!

Standing watch,

Bill Holter

Holter-Sinclair collaboration

Posted at 9:36 AM (CST) by & filed under

By Greg Hunter’s

Financial writer and precious metals expert Craig Hemke predicted in July that silver was about to start a dramatic move higher.  He was right.  After Tuesday’s smash-down of the metal, Hemke says precious metals investors have nothing to worry about.  Hemke explains, “The important thing to understand is the fundamental stuff that has driven gold and silver higher, especially in the last couple of weeks, none of that has changed. . . . You get these speculative excesses.   They traded on the COMEX futures exchange (Tuesday 8/11/20) 1.5 billion ounces of pretend fake digital silver.  In a normal non-Covid world, the entire globe mines about 850 million ounces of silver.  So, in one day’s trading of the phony baloney plastic silver, they traded two times global mine supply. . . . The picture has not changed fundamentally.  They can trade two times global mine supply and you get these speculative excesses that get wrung out, but that just sets you up for the next move higher.”


Posted at 9:42 AM (CST) by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

       Nothing starts a Monday off better than a strong-precious-metals move higher with December Gold at $2,038.70, up $10.70 after reaching $2,047.50 with the low at $2,018.90. Silver leads the percentages with the September trade at $28.31 up 77 cents after reaching up to $28.845 with the low down at $27.96. The Continually Overprinted US Dollar is still the lynch pin to it all with the trade at 93.64, up 22.8 points after Friday’s rally with the high at 93.685 with the low that will eventually be blown out at 93.28. Of course, all this happened before 5 am pst, the Comex open, the London close, and after Trump removed the Bickering Party’s say in the negotiations, when he signed the executive order giving the additional cash created by the US Treasury to Americans, in what one professor called “smart politics.” In short, Nancy, Chuckie, Schiff, and the Myth, got sidestepped, LOLOLOLOL!

       Gold’s value under the Venezuelan Bolivar is now priced at 20,361.52 Bolivar, showing a pullback of 271.66 since Friday with Silver gaining 5.642 Bolivar with the last trade at 288.089. Argentina’s currency now has Gold valued at 148,211.93, it too losing about 1,051.06 Peso’s since Friday with Silver doing the opposite with its trade at 2,097.02 A-Peso’s providing the holder a 42.76 rise in price. Turkey’s Lira is standing out all by itself (or is it Au’s price?) with Gold gaining 95.87 Lira’s with the last price at 14,923.25. Silver under the Lira also gained 7.885 T-Lira’s with the last quote at 211.191. Please get used to these price swings, they are expected in the primaries when the exchanges run out of what has already been extracted.

      August Silver Delivery Demands now sit at 174 fully paid for contracts and with a Volume of 4 already up on the board, with a trading range between $28.20 and $28.115 with the last buy at $28.13, up 59.7 cents. Friday’s full day of delivery trades occurred in between a high of $29.53 and the low at $27.525 with the last swap at $27.533, down 85.4 cents yet increasing the demand count by 19 contracts waiting for delivery. Thank you, Mr. Resolute! The shorts continue to pile on, and it does seem they are stressed, as the count increased by only 432 Overnighters, bringing this morning’s total Open Interest to 208,451.

      August Gold’s Delivery Count now sits at 4,590 fully paid for contracts with a trading range between $2,028.30 and $2,022.20 with the last swap at $2,024.40, up $14.30 so far today. Friday’s delivery trades occurred between $2,055 and $2,009.60 with the last buy at $2,010.10 ultimately losing $41.40 by the end of the day and as we witnessed a 532-count reduction as those who wanted receipts, finally got them, maybe. Gold’s Overall Open Interest continues to do the opposite of Silver’s as another 2,041 short contracts got out while they could, leaving 551,632 Overnighters still going against the physicals that the Resolutes are demanding.

      We’re getting into the “mail-in-ballot season” one party thinks will get them respect, with some discomforting news coming from the Customs and Border Protection (CBP) officers working at Chicago O’Hare International Airport having intercepted close to 20,000 counterfeit U.S. driver’s licenses shipped from China, and just ahead of the elections. I wonder who these new voters would be voting for? This event was totally ignored yesterday as Nancy said “China would prefer Joe Biden. Whether they do – that’s their [the IC’s] conclusion, that [China] would prefer Joe Biden.” I still remember 2015’s election run with those people that said “By Any Means Possible” which also meant illegally. What are they afraid of; more disclosures? Are they afraid of that Big Red Disclosure Button on the President’s desk that has been pushed many times already?

     I got a perfectly timed question, regarding the international currency paragraph that might be helpful for all interested, posted this Saturday;

     A query from CIGA Mike.

            Subject: Bolivar, A-Peso & Lira


            I’m sure there is some significance for you posting the gold and silver equivalents of the Bolivar, A-Peso and Lira. However, since I don’t know what this is, I would appreciate (along with others, I’m sure) you explaining this at some point in a future post.

      I read your posts every day, and this is the only paragraph that has me somewhat stumped.

      Be well and stay safe,

      CIGA Mike

      Hello CIGA Mike,

            Thank you for reading and sharing your frustration. I have posted a few times how these currencies were once linked to the US Dollar, one to one, or in variations, before they revalued themselves from their original peg to the US$. I post the precious metals prices, under these already devalued currencies, so people are aware of the international changes in price, and by extension, hoping readers will get used to the price swings we may see in the future, and under our Dollar. In a way, it is preparing one for what may happen in the primary currencies once debt fails, causing the skyrocketing inflation these failed currency nations have lived thru already.

      Take a look at Wikipedia’s storyline of the Argentine Peso for instance, from 1992 to present. The Peso was tied to the Dollar 1 to 1. Now consider where Gold’s price is under that currency and how your purchasing power held, if one had Gold already in possession. What will the price of Gold be in the US when we see our currency value being revalued against the others like Argentina did a few years ago? This can’t be answered yet, but these currencies do give us a path in price projection.

      Admittedly, the little slipped in reminders I put in there, may not be enough. We’re involved in a currency issue, and most don’t want to know how fragile currencies really are. I was hoping this would help those who do not “currency”, learn by reading along to develop the understanding. “Currency” talk is a subject not spoken in kind by most. It is a lonely subject.

     How about this? When Jim and Bill talk about Gold going to $50,000, $80,000, or higher under the US Dollar, is there any form of proof those prices can be reached? All we need to do is look at what happened already in Argentina, and all of a sudden $80,000 is more than possible.

    I deeply appreciate your email, and I hope this helped.

    Keep the faith, smile, positive attitudes and your precious metals close, by any means legally possible! And as always ….

Stay Strong!

Jeremiah Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.

Posted at 2:19 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Up is down, in is out and wrong is right…just remember, one man’s debt is another man’s asset so when one does not pay another is not paid!

No Payment, No Problem: Bizarre New World of Consumer Debt
August 7, 2020

All kinds of weird records are being broken. But it’s scheduled to expire, and then what?

By Wolf Richter for WOLF STREET.

The New York Fed released a doozie of a household credit report. It summarized what individual lenders have been reporting about their own practices: If you can’t make the payments on your mortgage, auto loan, credit card debt, or student loan, just ask for a deferral or forbearance, and you won’t have to make the payments, and the loan won’t count as delinquent if it wasn’t delinquent before. And even if it was delinquent before, you can “cure” a delinquency by getting the loan deferred and modified. No payment, no problem.

Nearly all student loans go into forbearance, delinquencies plunge.

Student loan borrowers were automatically rolled into forbearance under the CARES Act, and even though many students had stopped making payments, delinquency rates plunged because the Department of Education had decided to report as “current” all those loans that are in forbearance, even if they were delinquent. Yup, according to New York Fed data, the delinquency rate of student loan borrowers, though many had stopped making payments, plunged from 10.75% in Q1, to 6.97% in Q2, the lowest since 2007:



Bill Holter’s Commentary

Many words come to mind but let’s use “immature” rather than something more inflammatory and descriptive. Maybe we should just cancel all classes, forever, and hand out degrees? That might be better as students would have less “indoctrination” that way? We should also pay all professors and new graduates for a life of zero work because that is their God given right? Not really sure what the spark will be but at this point it seems a very violent future is in store for us all…! And here I thought the book Animal Farm was total fiction when I was a kid, little did I know it foretold our future?

Faculty, Students Across US Hold ‘Die-Ins’ To Protest Return To Campus
August 9, 2020

As the fall semester approaches, students from universities across the United States are holding protests, marches, and “die-ins” to denounce the return of in-person classes.

Most American universities are entering the fall semester under a hybrid model of virtual learning and in-person instruction. However, student activists believe that these decisions are motivated by money- not the health and well-being of students.

Protesters are correct in assuming that there are financial consequences for universities moving to only online instruction. Postsecondary institutions across the United States are watching their summer and fall enrollment plummet as they adapt to virtual learning. Many are laying off faculty and cutting budgets by as much as 25 percent.


Posted at 9:48 AM (CST) by & filed under

By Greg Hunter’s (Saturday Night Post)

Cycle expert and financial analyst Bo Polny predicted near the first of the year there was a “new era of time” starting on the 21st of April 2020.  Polny explains, “Things take time to happen.  Life is not a switch in God’s world.  So, if it’s the 21st of April, life doesn’t change on the 22nd.  There’s a transition period.  Noah was on the Ark for an entire year, actually a little more than a year, before he actually stepped off the Ark with all the animals and his family.  That would equate to April 26th of 2021.  So, when he stepped off the Ark is when he stepped into a new world or a new era.  If that was not a delineation point for a new era, exactly what is?  Even though the old world we knew is finished and over, we are in a transition point.  We really have not seen the new world yet because we are in the transition point.  In a transition point, we still have these people trying to run the world still in power. . . . Do expect immense changes, and I do feel September 18th of this year is going to be pretty epic.  Everything changes after April of next year.”

President Trump gave a speech last week and said he has “a lot of very, very rich enemies, but they are not happy with what I’m doing.”  What does Polny think Trump meant?  Polny says, “Please think about the moment that Christ walked into the temple and started flipping all the money tables.  Do you think all those people were happy?  Or, were they freaking out? . . . Trump, like Christ, is overturning the money tables.  The present day money tables are big pharma, the Federal Reserve, government agencies, politicians, fake news, China, including the trade deal and intellectual property, the pedophiles, drug cartels and the like who have all been working together quietly for generations, and now they are losing money.  It’s all about the money, and Trump is turning the tables on them.  They hate him.”