Posted at 11:14 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Very, very funny 90 seconds, but so sad because our entitled youth today truly think like this. They will vote and even run for office (AOC?)…and “fund” an already bankrupt Social Security system. Oh that’s right, they would have to have jobs and actually work to do that!

Posted at 4:52 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

It won’t be long before this will be true in all currencies…

Gold Surges To New All Time Record Highs In Euros At EUR 1,456 Per Ounce
February 14, 2020

Gold prices surged to new all time record highs in euros today at €1,456 per ounce as the single currency came under selling pressure.

The record highs are due to safe haven demand due to a weaker euro as the German and eurozone economies slow and on concerns about the impact of a slowing global economy on risk assets.

Gold prices are up over 7% in euro terms so far in 2020, building on the 22.7% gains in euros seen in 2019 (see table below).


Posted at 10:00 AM (CST) by & filed under General Editorial.

Great and Wonderful Friday Morning Folks,

      Gold is barely trading higher than it’s close with the price at $1,579.50 up 70 cents and inside a $5 trading range between $1,581.20 and $1,576.00. Silver is leading the rally (barely) with its trade at $17.68 up 6.1 cents after hitting $17.69 with the low at $17.595. The US Dollar finally broke thru and is now at 99.02 up 6.2 points after it reached up to 99.045 with the low at 98.950. Of course, all of this “hardly a trade” happened before 5 am pst, the Comex open, the London close, and after Harvard and Yale, are put under investigation, for not reporting their incoming foreign funds as we wonder what that money was truly sponsoring? Did they too, think she could not lose?

      Gold under the Venezuelan Bolivar is now priced at 15,775.26 proving an increase of 23.97 Bolivar with Silver at 176.579, it too gaining 0.749 of a Bolivar. In Argentina, Gold values sits at 96,845.44 Peso’s proving a gain of 382.90 overnight with Silver adding 7.25 to its value at 1,083.99 A-Peso’s. The Turkish Lira, which we feel is more closely tied to the Euro because of its proximity to that monster print machine, now has Gold valued at 9,573.97 Lira adding 19.27 with Silver at 107.160 it too, adding another 0.499 of a T-Lira.

     February Silver Delivery Demands has dropped from a 10 count to 1 during yesterday’s trades and with no price to offer what so ever, and even after a Volume of 3 was posted up on the board at the end of the trading day. Spread entry or exit, who really knows, with the exception of those that feel bad math is good for investing. The numbers behind the price is proving far more of the problem for the shorts than anything else. In fact, the Open Interest gained another 1,914 more shorts while the price went up 12.2 cents with the total count now at 225,725 Overnighters. The count is still highly elevated and only 18,471 pieces of paper off the all-time Brexit/Trump/Win high.

      February Gold’s Delivery Count now sits at 726 fully paid for contracts waiting for their 100-ounce receipts proving a drop of 150 obligations inside a trading range between $1,574.10 and $1,570.20 with the closing price adjusted higher at $1,575.10. Even though we like the higher close, this still points to the idea that the paper controls the price and not the real purchases. Gold’s Overall Open Interest now sits at 674,264 Overnighters showing an increase of 17,365 more shorts being added, proving our point, that if there really was a limit to how many contracts, in total can be used verses an outside, audited, and confirmed warehoused numbers, prices would be different than they are now, and more than likely, sharply higher. Gold’s Open interest is off the top by 124,277 Obligations.

      Our Petri Dish observation of the infected passengers sequestered on the cruise ship in Yokohama, Japan, has continued to rise. 44 more cases of the illness have been added since the last count bringing the total to 218. The affect of this event has caused the cruise line to cancels 18 future cruises because 30 countries and territories now have the virus and with the way people are stuck in place, most likely future passengers will cancel their plans and simply stay at home. There should be more cancelations coming if this spread continues. Also, of note and inside this report, Sydney, Australia, now has an infected ship to deal with, bringing the infected ship count to 5.

Vietnam is now following China’s lead as “villages” (plural) with 10,000 people or more, close to the nation’s capital, were placed under quarantine on Thursday after six cases of the deadly coronavirus were discovered there. It seems the virus is not slowing down one bit, instead, we see the spread gaining traction. It is truly unfortunate that governments can never be truthful about anything, it would really help here. We expect next week’s “end of the quarantine” which is scheduled for the 19th, to be extended until there really is a count drop.

      We pray to be wrong here, horribly wrong! At the same time, we are not taking things lightly. If the spread does not drop it will increase and with it, more and more travel, shipping, and international trade will be affected, period! What you have is what you are stuck with, we strongly suggest stocking up on things you will need, in order to stay in place. Please offer up a kind thought or prayer to all infected. Have a Happy Valentine’s Day, a wonderful weekend, and a good President’s Day on Monday, keep that smile on your face, and a positive thought in the head no matter what, and as always …

Stay Strong!

Jeremiah Johnson

Posted at 10:08 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Any idea what this means? Do you really believe your brokerage statement is correct…?

Hong Kong’s Largest Mall Owner Cuts Rents Up To 50%
February 12, 2020

Commenting on the regional impact of the Covid-2019 epidemic, Morgan Stanley writes that Hong Kong’s tourism, trade and domestic consumption could be significantly affected, further aggravating the technical recession the financial hub found itself going into 2020.



Posted at 10:00 AM (CST) by & filed under General Editorial.

Great and Wonderful Thursday Morning Folks,

      Gold is higher in the early morning trade; in fact, it made a new high for the week with the trade at $1,577.10 up $5.50 after reaching $1,581.10 with the low at $1,568.50. Silver is higher as well, yet never allowed to do much more than trade slightly higher, with the price at $17.605 up 10.8 cents after reaching $17.665 with the low at $17.440. The US Dollar keeps being rallied during the day sessions and is now valued at 98.890 down 0.032 points after hitting 98.945 with the low at 98.745. With all the Repo printing going on with the dollar pricings going higher, one would think the Fed Res is signaling us that when this game of print is stopped, so will this fiat rally. All of this of course has happened already, before 5 am pst, the Comex open, the London close, and after a gallop poll claims the Democrats worst nightmare (which they’ve chosen to ignore all this time), that a majority of Americans are saying they’re better off now than in the past elections. My message to the party is, don’t stop spreading your ideas of love for higher taxes and more control over everything. I really think it’s catching on .

      Our emerging markets currency watch is flat to higher in the overnight. In Venezuela, Gold is now priced at 15,751.29 Bolivar, adding back 81.9 with Silver now trading at 175.830 completely unchanged from yesterday. In Argentina, Gold is now valued at 96,462.54 Peso’s proving a gain of 722.08 in the overnight with Silver at 1,076.75 Peso’s regaining 2.14. In Turkey, the Lira has Gold pegged at 9,554.70 providing the holder a gain of 74.11 T-Lira’s with Silver up 0.306 of a Lira at 106.661.

      The February Silver Deliveries doubled in demand during yesterday’s activity with the count now at 10 and with a 1 lot Volume up on the board with another one of those “no price trades” so far today. Silver’s Overall Open Interest is now at 223,811 Overnighters, proving a gain of 1,828 more shorts in order to stay the price, yet barely able to keep the money of the people down 10 cents. The early morning Volume in the March contract is still super low at 25,536 with the OI at 119,613 with a reminder that the March options are coming off the board in 12 more days.

      February Gold’s Delivery Demands now has a post of 876 up on the board and (unlike Silver) it has a trading range for its Volume of 27 between $1,574.10 and $1,570.20 with the last buy/sell at $1,573.40. This proves 102 demands for physicals got a receipt from somewhere, if you’ve been reading me for a while you know no one has any idea what the receipts really mean. In short, your guess is as good as mine. Gold’s Overall Open Interest is now at 656,899 Overnighters showing a “short” exit of 1,057 pieces of paper since yesterday’s early morning count.

      While we wait for more data regarding the airborne Coronavirus, China continues to clamp down hard on the people of Wuhan and it’s mid-level party members controlling the providence; Sudden Militarization Of Wuhan’s P4 Lab Raises New Questions About The Origin Of The Deadly Covid-19 Virus. Inside this report they claim senior Chinese officials were ‘removed’ for “dereliction of duty”. As the media continues to tell us what the officials are saying and doing, other audio is coming out from below giving more details on who/what/why, things have gotten out of control. Like we’ve mentioned in the past, the truth is somewhere in the middle. It may be best to be more concerned now than not, as their idea of telling people to stay in place and away from gatherings, might be a good idea for concerned individuals. Remember, panic does no one any good, remaining calm and using logic helps everyone, including the panicked.

     The markets for now are totally ignoring the idea of a “ Global Just In Time Inventory Challenge”. That may be because the algos are built to remove this natural human emotion, of people moving money around to protect their retirements when events like this occur. That can only be temporary until products are no longer found on the shelves. Until then we wait, being positive no matter what, with a smile on our face, and a prayer for all. Make it a great day no matter what, and as always …

Stay Strong!

J. Johnson

Posted at 10:22 AM (CST) by & filed under Jim's Mailbox.

Shut downs are echoing.

USPS Suspends “Delivery Guarantee” On Mail To China As Shipping Industry Faces Global Disruption
February 12, 2020

The United States Postal Service (USPS) announced on Monday that it will be “temporarily suspending the guarantee on priority mail express” destined for China and Hong Kong because of airline and air freight cancellations and other restrictions since the coronavirus outbreak.

“USPS will be temporarily suspending the guarantee on priority mail express international destined for China and Hong Kong, effective Monday, February 10,” a service alert on USPS’ website read.

usps warning coronavirus


Posted at 10:03 AM (CST) by & filed under

By Greg Hunter’s

Precious metals expert and financial writer David Morgan says silver is still 65% off its all-time high and is a much better value than gold. Morgan points out, “Relative to all asset classes, I can’t think of one that is more undervalued than silver. If you look at every asset in the metals world, meaning base metals . . . anything to do with the periodic chart, every one of them has obtained a higher price level than it was in 1980 except silver.”

The biggest problem out there is the virus chaos going on in China that is nowhere near solved and getting worse by the day. Morgan says, “Sooner or later, the reality is going to hit the stock market. I don’t care how much funny money they use to pump it up. When you don’t get goods on the dock that you can distribute, something has got to give. This is taking place as we speak. It will only, in my view, get worse. Nobody really knows the impact at this time exactly, but we know the trend, and the trend is exponential. One person can infect two, two goes to four, four goes to eight, eight goes to 16 and it’s exponential. This means until this thing burns itself out one way or another, we’ve probably got worse days than better days for a while.”

How global powers are dealing with the financial fallout is to simply print money to paper over the problem. That’s not going to work forever. According to Morgan, “Basically, it all gets down to something very simple. Print, print, print until people stop accepting it as valuable and realize whenever you have a lot of anything. its value decreases. This is what we are facing. In the interim, you could see the dollar do quite well because of this foreign exchange swap problem. You need dollars because you need to settle debts, and your yuan is not worth as much because people are afraid and you have a foreign exchange sway putting pressure on one side or the other. . . . The bottom line is pretty simple. It’s all based on trust. The banks do not trust each other for overnight loans. . . . Fed Head Powell has come out and said the coronavirus is something they are going to handle, means the Fed is going to come out and flood the market with funny money.”