Posted at 10:34 AM (CST) by & filed under Jim's Mailbox.

Courtesy of Dave

Bill

EU to Switch from US Dollar to Euro on Oil Trades from Iran
May 18, 2018

May 18, 2018 “Information Clearing House” –  Iran, under a renewed threat of U.S. sanctions returning, two months ago decided to switch using the greenback as a currency in its imports and banned all traders from using USD. A directive came from the Ministry of Industry, Mine and Trade. Iran was being backed into a corner and was facing a situation of having has no access to dollar transactions because of the sanctions. Hence, it decided to remove that threat. Now instead of using banks, it has to use a network of foreign exchange bureaus and even gone the distance by saying it wants no transactions at all in USD.

This was quickly but quietly followed up with a Reuters report at the same time in March that China was now ready to start testing its new system and that regulators had asked a handful of financial institutions to prepare for pricing China’s crude imports in the yuan. Since the launch in May, the interest in the renminbi-backed oil contracts has steadily increased. Traded daily volumes hit a record 250,000 lots within two weeks and surprisingly the share of yuan contracts in global trading jumped to 12 percent from 8 percent just eight weeks earlier.

Then, an industry news source for the oil and gas industry reported on April 9th that Russia was considering replacing the U.S. dollar in crude oil payments on deals with Turkey and Iran, Energy Minister Alexander Novak said.

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Courtesy of Dave

Bill

Putin: ‘If Novichok Was Used, Skripal Would Have Died On The Spot’, Ex-Double Agent Leaves Hospital
May 18, 2018

Russian President Vladimir Putin says he was happy to hear that former double agent Sergei Skripal had been discharged from hospital, stressing that if a weapons-grade poison had been used, Skripal would have died on the spot.

Speaking at a joint press conference with visiting German Chancellor Angela Merkel, Putin said he had heard Skripal had been released from hospital.

“God give him health, we are very happy,” the Russian president said. He added, however, that he doubts a weapons-grade toxin was used to poison Sergei Skripal and his daughter Yulia in Salisbury, UK, in early March.

“I think that if, as our British colleagues claim, a weapons-grade poison had been used, that person would be dead on the spot. Combat chemicals are so strong that the person either dies immediately or within seconds, maybe minutes,” Putin said.

He also reiterated Russia’s willingness to help the investigation. “We have offered our British partners all the necessary help numerous times, and asked for access to the investigation. There has been no answer so far. Our offer remains on the table,” the Russian leader concluded.

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Posted at 10:54 AM (CST) by & filed under Jim's Mailbox.

J. Johnson’s latest. Courtesy of JB.

Bill

 

Good Morning,

 

The case of the Perplexing Call Options

 

Silver and Gold are still under pressure as we make it to the end of another frustrating week of manipulation with Gold at $1,287.60 down $1.80 with the usual “close to the low” in London’s price of $1,285.40. The high reached during our early morning is $1,290.50. Silver’s trade is at $16.445, down 3.6 cents with its low at $16.39 and currently 3.5 cents off the high. The US Dollar is what all this is about and its trade is at 93.49, up 11.5 points just off its London high of 93.545. This market wants to drop and hard but as long as we have our Working Group, they should be able to keep it going (until?).

The Open Interest in the delivery month for Silver (May contract) jumped to 176, this is an increase of 82 contracts totaling an additional 410,000 troy ounces added on top of the waiting list now making a total demand of 880,000 troy ounces, this does not include all the settled delivery notices from earlier. No need to worry about supply and demand issues forcing prices higher, that’s all been taken care of (very sick joke). Don’t be fooled, one day this will matter so much so, if one blinks, they may miss the first $30 of the rally. Open Interest in Comex Silver now stands at 199,453 contracts sometime in the early morning before 6am PST. This is a 705 contract drop from yesterday’s early quote as we see the entire week was a waste for any Silver and Gold Bull Market Rider.

When I look at the Silver options board I’m still perplexed as to why there are so many purchased Calls options out in July of next year. Sept 2018 Call options total 5,589, Dec 2018 has 26,406 Calls, March 2019 has 1,263, May 2019 has Zero (0), yet July has a total of 34,511 Call Options. This imbalance is something new to me and I still don’t see why it is this way unless these July 2019 Call options are “a way” out when Silvers price does explode (imo). The July 2019 Silver Call Options exceeds all main delivery month(s) Call Options by roughly 1,253 contracts and I am excluding July 2018 because they come off the board next month. If a group on “large” traders needed a way out of their “Short Calls”, this could be a sort of Calendar Spread approach towards an exit. All one would need to know is what price target would be set along with “when they decide to let it go” and the seller of these options (before 7/19) would be off the hook. Of course this is only 1 of a million different ways to see this, but at the same time, we’re dealing with a full blown manipulation in all things financial so, this too should be considered as a possible end game approach.

Bitcoin is trading at $8,106, down $196, Ethereum is trading at $683.54 down $23.55, and Litecoin is at $133.12 down $5.77. It seems everyone wants a chunk of crypto system with a couple of news articles being sent out like the Federal Reserve’s new name for their experiment by calling it the FedCoin (cashless dollar?). https://www.nytimes.com/2018/05/04/upshot/should-the-fed-create-fedcoin-to-rival-bitcoin-a-former-top-official-says-maybe.html .Of course this will be supported by the full faith and trust of the policy makers, so when they run into trouble, they can digitize more and more. The there’s Goldman’s idea called the Circle USD https://futurism.com/goldman-sachs-launched-new-cryptocurrency/. Nothing to worry about here LOLOLOL.

As if that all this wasn’t enough, we have this to chew on over the weekend;

IG Horowitz Finds FBI, DOJ Broke Law In Clinton Probe, Refers To Prosecutor For Criminal Charges

https://www.zerohedge.com/news/2018-05-17/inspector-general-finds-fbi-doj-broke-law-clinton-email-probe-refers-criminal.

Yet nothing can weaken the strength of the US Dollar, not even 15 months of criminal investigation into the highest levels of US politics can shake the Dollar from its lofty price, for now that is. One day all the politics and illegal actions will catch up to the value of the dollar regardless of all the support and when that happens, those of us that hold most of our wealth in physical precious metals will be rewarded in kind. Have a great day and weekend and as always … Stay Strong!

  1. Johnson

 

…here we are again! Courtesy of CIGA Werner.

Bill

 

 

 

 

 

 

 

 

 

 

CIGA Tom with an excellent point!

Bill

Less recycling if no surplus, right? If they need to sell bonds and we need to sell bonds, who’s going to buy the bonds? Venezuela? 🙂

CIGA Tom

 

Werner checks in with a picture of how undervalued gold is currently.

Bill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The smoking gun of who is backing Trump?

Dave

How Rothschild Inc. Saved Donald Trump
June 21, 2016

In the early 1980’s Donald Trump was an up and coming real estate developer in New York.  There was no connection between the Trump name and casinos or gambling.  The obvious nature of the name Trump and its definition related to gambling and card games foretold of the massive empire which would develop in the coming years.

In 1987 Donald Trump purchased his first casino interests when he acquired 93% of the shares in Resorts International.  Resorts International has a sordid history which began in the early 1950’s when it evolved from a CIA and Mossad front company which had been established for the purpose of money laundering the profits from drug trafficking, gambling, and other illegal activities.

The socioeconomic engineering benefits of mass population manipulation through means of drug addiction, gambling, and other vices, far outweigh those provided by money laundering alone. It can be assumed that money laundering acted as a secondary advantage in much the same way that the subjugation of the Chinese population through the spread of opium financially benefited the East India Trading Company centuries before.

On October 30, 1978, The Spotlight newspaper reported that the principle investors of Resorts International were Meyer Lansky, Tibor Rosenbaum, William Mellon Hitchcock, David Rockefeller, and one Baron Edmond de Rothschild.

Michael Collins Piper, in his book The New Jerusalem: Zionist Power in America has done an excellent job of describing the relationship between Donald Trump and Resorts International.  The following excerpt sums up the relationship:

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Posted at 10:43 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

…they meet to talk about the end of the US dollar?

Putin to meet Merkel to talk Iran and Ukraine
May 17, 2018

Sochi (Russia) (AFP) – Russian President Vladimir Putin is due to meet German Chancellor Angela Merkel in the Black Sea resort of Sochi on Friday, as Moscow and Europe make rare joint efforts to save the Iran nuclear deal.

The pair’s first face-to-face meeting in a year will take place less than a week before French President Emmanuel Macron is due to visit Russia.

The meeting will take place in Putin’s Sochi residence and is expected to be dominated by US President Donald Trump’s decision to pull out from the Iran agreement.

The fallout over the Iran deal is a rare topic for rapprochement between Europe and Moscow, whose relations are marred by disagreements over the Syria conflict, Moscow’s 2014 annexation of Crimea and the subsequent war in eastern Ukraine.

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Bill Holter’s Commentary

Interesting relationship between reserves and oil.

Posted at 3:39 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

If yesterday’s sale in one minute was real physical gold, it would have been gobbled up faster than it could be sold!

China Gold Demand Off To Hot Start
May 15, 2018

It looks to be another boom year for gold. Investors are anticipating a continued demand for the precious metal for the fifth year in a row, driven by geopolitical uncertainties and less-than-strong predictions for the U.S. economy and the U.S. dollar in 2019.

In times of economic turmoil, gold has always served as a hedge against the decreased value of stocks or currency. Faced with unusual market volatility, people around the globe are turning to the yellow metal as a haven and safe investment diversifier. The price of gold rose by 14 percent in 2017 and is likely to go higher.

While the U.S. dollar is expected to lose some value in 2018, the Euro and other currencies are showing a modest gain.

India has historically turned to gold not only for investment purposes but for jewelry. Its traditional wedding season is approaching, and gifts of gold jewelry are the norm, even among India’s more impoverished population.

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Bill Holter’s Commentary

Sanctions? What sanctions?!!!

Dollar Collapse Coming: EU To Ditch The Us Dollar In Payments For Iranian Oil

May 16, 2018

The dollar’s collapse is nearing.  The European Union is planning to switch its payments to the Euro for its oil purchases from Iran, eliminating United States dollar transactions.

Just one more nail to the US dollar’s coffin.  Its collapse is all but imminent at this point. The EU has successfully found a way to scoff at potential future sanctions on Iran by openly defying the US; and as an “added bonus,” they’ve helped seal the dollar’s fate.  According to RT, a diplomatic source with the EU has told a news outlet of the decision.  “I’m privy to the information that the EU is going to shift from dollar to euro to pay for crude from Iran,” said the diplomatic source.

Brussels has been at odds with Washington over the US’s decision to withdrawal from the Iran nuclear deal, which was reached during the administration of Barack Obama. President Donald Trump has pledged to re-impose sanctions against the Islamic Republic as soon as he is able to do so. The Trump administration also has had plans to topple the current regime in Iran, according to leaked documents, and it looks like they’ve just given themselves the go-ahead:

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Posted at 12:04 PM (CST) by & filed under Jim's Mailbox.

Courtesy of JB. We have suggested this from the beginning, the current cryptocurrencies are a dry run for sovereign cryptocurrencies …but they will still need to have some sort of backing to have value.  Just because you can “account” for something does not change whether the subjest has real value or is simply air…

Bill

Should the Fed Create ‘FedCoin’ to Rival Bitcoin? A Former Top Official Says ‘Maybe’
May 4, 2018

Many enthusiasts of Bitcoin and other cryptocurrencies are motivated by deep skepticism of the central banks that control the world’s money supply.

But what if central banks themselves entered the game? What would happen if the Federal Reserve, or the European Central Bank or the Bank of Japan used blockchain technology to create their own virtual currencies? Besides, that is, having some cryptocurrency fans’ heads explode?

A former Fed governor — who was also a finalist to lead the central bank — thinks the idea deserves serious consideration.

“Most central banks have a view that these crypto-assets are clever, like guys in the garage did it and it’s kind of cool, or risky,” given the potential investor losses and widespread fraud, said Kevin Warsh, who was a governor at the Fed from 2006 to 2011 and was a top contender to become its chairman late last year when President Trump instead appointed Jerome Powell.

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Posted at 10:15 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

My Dad told me at an early age “you can’t fix stupid”, I guess he was right?

Debbie Wasserman Schultz: The NRA Is ‘Just Shy Of A Terrorist Organization’
May 15, 2018

Rep. Debbie Wasserman Schultz (D-Fla.) had stern words for the National Rifle Association on Tuesday, responding to the gun group’s new president attacking student survivors of the shooting in Parkland, Florida, for allegedly engaging in “civil terrorism.”

“The NRA is kind of just shy of a terrorist organization,” Schultz told HuffPost. “They have done everything they can to perpetuate the culture of violence that we have in our country with the spread of assault weapons across the nation.”

In an interview with The Washington Times last week, newly elected NRA president Oliver North accused students of Parkland’s Marjory Stoneman Douglas High School of using “intimidation and harassment and lawbreaking” in the anti-gun efforts they launched following the Valentine’s Day massacre that left 17 people dead at their campus.

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Tom Fitton: The Mueller Investigation has been an Unmitigated Disaster
May 15, 2018

 

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Posted at 10:10 PM (CST) by & filed under Jim's Mailbox.

Correct Wolfgang, we will soon see “why” and the revelation that paper gold is only paper and has nothing to do with real physical gold will be revealed for all too horrifyingly see!

Bill

Jim/Bill,

“Blatant” is a good word.

“Nobody in their right mind would just all of the sudden have to sell 13,500+ contracts of gold, all at once, in one single minute, one hour before the market officially opens.

It’s disgusting really, and blatantly in our faces.”

Yup.

CIGA Wolfgang Rech

Gold Loses $1300 As Cartel Dumps $1.75-Billion Worth Of Paper Gold In One Single Minute
May 15, 2018

Using the unimpressive April Retail Sales Report as cover, the cartel has gone on an absolutely viscous pre-market attack. Here’s the details…

The April, 2018 Retail Sales Report hit the tape at 8:30 a.m. EST, and the cartel hit the sell button on gold.

Retail sales were unimpressive, with what we already know: Stagflation.

For example, sales at gasoline stations rose a whopping 11% in April.

Don’t think it’s because people all of the sudden had to try the newest Slushie flavor and load up on sunflower seeds & beef jerky.

That’s not why gasoline station sales are surging.

It’s because of diesel and gas prices.

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Courtesy of JB.

Jim

Russian Bank Helps Venezuela Defy US Sanctions On Cryptocurrency
May 15, 2018

The world’s first state-backed digital currency ‘el petro’ launched by Venezuela this year to circumvent US sanctions is reportedly getting help from a Russian bank.

According to Associated Press, Russia’s Evrofinance Mosnarbank has become the first international financial institution so far willing to back the petro after US authorities warned potential investors over related risks.

Investors who registered with Venezuela’s government and downloaded the petro’s wallet software were invited to buy the cryptocurrency by wiring a minimum of €1,000 to a Venezuelan government account at Evrofinance. The wallet software is available in Spanish, English and Russian.

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…and this is happening during “good times”?

Bill

Posted at 9:11 AM (CST) by & filed under Jim's Mailbox.

Assad: Why talk to Trump if he doesn’t control the US?

Dave

Assad: ‘The Deep State in The US is in Control, Not The President’
May 10, 2018

Meeting with Donald Trump would be pointless because the deep state – not the president – controls the US, Bashar Assad said in an interview. He noted that the agenda of the deep state is to create conflict aimed against Russia.

In an exclusive interview with Athens daily Kathimerini, Assad said there was no reason to meet face-to-face with Trump, since the US president “says something today, and does the opposite tomorrow,” and is likely not even being in control of policy decisions.

“[W]e don’t think the president of that regime is in control,” Assad told the paper, referring to Trump. “We all believe that the deep state, the real state, is in control, or is in control of every president, and that is nothing new. It has always been so in the United States, at least during the last 40 years, at least since Nixon, maybe before, but it’s becoming starker and starker, and the starkest case is Trump.”

Assad also dismissed the possibility of a third world war breaking out in Syria, telling the Greek newspaper that Moscow’s levelheadedness has so far prevented a catastrophic escalation – even as the US aims to expand the conflict. Asked directly if he was concerned about the possibility of a third world war, Assad replied:”No, for one reason: Because fortunately, you have a wise leadership in Russia, and they know that the agenda of the deep state in the United States is to create a conflict. Since Trump’s campaign, the main agenda was against Russia, create a conflict with Russia, humiliate Russia, undermine Russia, and so on,” the Syrian president said.

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