Posted at 11:07 AM (CST) by & filed under In The News.

J. Johnson’s Latest – Silvers Resolute Resolution(s) Is At Hand!
November 11, 2019

Great and Wonderful Monday Morning Folks,   

      Gold is higher in the early morning with the trade at $1,464.40 up $1.50 after reaching $1,467.40 with the low at $1,459.50. Silver is tagging along with its price at $16.840 up 1.7 cents after reaching up to $16.91 with the low at $16.755. The US Dollar seems to be weaker in the early morning with its value pegged at 98.025, down 17.6 points and close to the low at 97.975 with the high up at 98.235. All of this happened before 5 am pst, the Comex open, the London close, and before the Resolute Silver buyers’ steps in again.   

      Venezuela’s Bolivar now has Gold priced at 14,625.70 giving the noble metal a 58.93 Bolivar gain with Silver at 168.190 Bolivars giving the holder a 0.85 Bolivar gain over the weekend. In Argentina, the Peso now has Gold priced at 87,312.37 A-Pesos giving the holder a 392.21 gain with Silver at 1,002.01 increasing it’s value by 3.49 A-Pesos. In Turkey, the Lira now has Gold valued at 8,457.62, increasing its value by 60.38 T-Lira with Silver now at 97.2432 T-Lira, giving the holder a slight 0.7832 T-Lira gain.   

      November Silver deliveries are confounding the sellers for sure and for certain with the demands for physicals now at 30 fully paid for contracts waiting for receipts proving an increase of 27 during Friday’s knock down day in price. Just to keep everyone up to date here, last Friday did have Volume of 31 up on the board, but the Comex doesn’t think a price was necessary to post this purchase(s), which is why we constantly look and criticize.  Comex has bad math skills, and they are using it to hide the transgressions we’ve claimed for years now. So far this morning, there is No Volume and No Price to post yet as we wait for Silver to be knocked down so the buyer can step in again. Something must have scared out some traders during Friday’s raid as the Overall Open Interest in Silver waned by 3,992 reducing the count to 225,261 Overnighters still in the trade. Remember these tallies are live and are not to be used against the closing totals given at the end of each day.   

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Jim Sinclair’s Commentary
Looks a little lopsided to me. IMO, the people with the biggest problem is the 1% of the 1%. What does a trillionaire do if, in fact, they are of the opinion that gold is a barbaric relic? They have to look toward resources, there is no other place to look if they don’t wish to continue being paper giants.

Richest 1% of Americans Close To Surpassing Wealth Of Middle Class
November 9, 2019

The U.S.’s historic economic expansion has so enriched one-percenters they now hold almost as much wealth as the middle- and upper-middle classes combined.

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Posted at 10:32 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Bloomberg decides to become president. Index all of a sudden turns red.

This Red Alert Is Now Flashing On The Bond Trader’s Radar Screen
November 8, 2019

A bond-market warning light that glowed green for years is suddenly flashing red. The bad news for bondholders is that the last time this happened, it was accompanied by the biggest sell-off since the aftermath of the global financial crisis.

That indicator is the term premium, which, for both Treasuries and German bunds, has snapped back from last quarter’s record lows. The U.S. gauge is now on track for the biggest three-month increase since late 2016.

After a stellar rally through August, global bonds have pulled back in recent weeks as thawing trade tensions lightened the global economic gloom, sapping demand for the safety of sovereign debt. Rebounding term premiums now signal the sell-off has further to run — the measure of extra compensation for holding longer-term debt versus simply rolling over a short-tenor security for years is in an uptrend that investors and strategists say has only just begun.

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Jim Sinclair’s Commentary

The New York Fed added $62.542 billion to financial markets on Wednesday as part of the central bank’s ongoing efforts to ensure that the financial system has enough liquidity and that short-term borrowing rates remain well-behaved.

It would be nice to have a full description of the real why and when/if this will end!

Fed Adds $62.542 Billion To Markets Wednesday
November 6, 2019

The New York Fed added $62.542 billion to financial markets Wednesday.

The intervention came via overnight purchase agreements in which eligible banks submitted $55.042 billion in Treasurys and $7.5 billion in mortgage-backed bonds to the central bank.

Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a short-term loan of central-bank cash, collateralized by the bonds. The Fed’s injections are aimed at ensuring that the financial system has enough liquidity and that short-term borrowing rates remain well-behaved.

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Jim Sinclair’s Commentary

The U.S. collected a record $7 billion in import tariffs in September as new duties kicked in on apparel, tools, electronics and other consumer goods from China.

Market heralds supposed tariff progress.

U.S. Collected a Record $7 Billion in Tariffs in September
November 6, 2019

WASHINGTON—The U.S. collected a record $7 billion in import tariffs in September, fresh figures show, as new duties kicked in on apparel, tools, electronics and other consumer goods from China.

Tariff revenue jumped 9% from August and was up more than 59% from a year earlier. The revenue is a bounty for the U.S. Treasury, but is an increasing burden on the American businesses that import Chinese products—and their customers.

The new figures are based on an analysis of official Commerce Department data compiled by Trade Partnership, an economic consulting firm. The data was released by Tariffs Hurt the Heartland, a coaliti

The sharp rise was driven by a new 15% levy on consumer goods that went into effect Sept. 1. Imports of these items were valued at $111 billion last year, according to an analysis by The Wall Street Journal.

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Jim Sinclair’s Commentary

China, after years of pumping out financial support to keep companies afloat and workers happy, has embarked on a debt reckoning—rapidly building a bankruptcy system to take on a significant pickup in corporate defaults.

This approach beats TARP and 10 other acronyms to cover government support of US corporations in 2009.

China Embraces Bankruptcy, U.S.-Style, to Cushion a Slowing Economy
November 6, 2019

XI’AN, China—In the trenches of China’s debt-addled economy, the government has made a startling decision: Let companies fail.

That has left creditors angry, debtors fighting to save their businesses and judges on a mission to promote the benefits of bankruptcy.

After years of pumping out financial support to keep the economy humming and workers happy, China has embarked on a debt reckoning. Beijing is building a bankruptcy system to take on a significant pickup in corporate defaults.

The country now has more than 90 U.S.-style specialized bankruptcy courts to help sort through a morass of corporate debt that, until recently, would have been swallowed by state banks and other creditors.

It is a sign that Beijing is worried about the number of failing companies and trying to find a fix. The system is helping, many lawyers, foreign investors and lenders say, as it takes some pressure off local governments that lack the resources for so many bailouts.

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America’s Housing Crunch Is So Bad It May Hurt City Bond Ratings
November 6, 2019

Not only is the shortage of affordable housing and the number of homeless on America’s streets a social and public policy crisis, it’s increasingly becoming a risk for municipal-bond buyers as residents of high-cost cities struggle to make ends meet.

Home prices are up 33% nationwide over the past five years and the homeless population increased in Los Angeles, New York City and the Seattle metro area between 2014 and 2018, according to a report from Moody’s Investors Service. Failure to deal with these changes puts local governments’s bond ratings at risk as residents move to cheaper jurisdictions, spend less and use more social services.

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Posted at 10:18 AM (CST) by & filed under Jim's Mailbox.

Bill,

This is Conrad, who who single sails trans-world races. He recently lost his entire mainsail in the fray. He singlehandedly sailed the to the finish many hundreds of miles away.

He jerry-rigged the ship in the fierce ocean.

He has a good sense of humor re: his training now for the Southern Ocean race.

Jim

 

Jim/Bill,

This is why I said to Denny on Saturday, China is holding a strong hand.

Dave

How Russia and China Are Building Eurasia Into a Geopolitical Powerhouse
November 8, 2019

Together, Russia and China have outstripped America economically and militarily within Eurasia and are in the process of drawing the European Union into a vast, increasingly prosperous alliance as America pursues an increasingly dystopian future. Their leaders ares so dominant, their vision is so seductive, their alliance so strong, their weapons so advanced and their pockets so deep that their centripetal force is almost irresistible. Russia’s leadership–Putin, Lavrov, Nabiullina, Siluanov and Shoygu–is the best in the country’s history and, as President Trump observed, “China’s leaders are much smarter than our leaders. It’s like taking the New England Patriots and Tom Brady and having them play your high school football team.” President Xi has visited Moscow more than any other capital city and has met Vladimir Putin thirty times, calling him, “My best, most intimate friend.”

* * *

Colonial nations lost their political and economic freedom because imperial centers of capital needed to control resources crucial for their survival, wealth, and power[2]. This is the real meaning of the terms ‘national security’ and ‘national interest.’ Powerful nations’ ‘national security’ is the control of an economic empire of subject states and the strategies through which this is carried out are their ‘national security secrets.’ They practice the antithesis of what they preach: their trumpeting of peace, freedom, justice, rights, democracy, and majority rule disguises those strategies for controlling other people and their resources be kept secret. The most pernicious is that multi-party democracy and a free press and must precede successful development.

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Jim/Bill,

On Saturday, Denny asked, “could the US Government seize private citizens gold?” I responded, “they can do what ever they want as there appears to be no rule of law”.

Dave

Pentagon: We’ll Shoot Any Syrian Official Who Tries to Access Syrian Oil
November 10, 2019

Authored by Andrea Germanos via CommonDreams.org,

Pentagon officials asserted Thursday U.S. military authority over Syrian oil fields because U.S. forces are acting under the goal of “protecting Americans from terrorist activity” and would be within their rights to shoot a representative of the Syrian government who attempted to retake control over that country’s national resource.

The comments came from Pentagon spokesperson Jonathan Hoffman and Navy Rear Admiral William D. Byrne Jr. during a press briefing in which the two men were asked repeatedly about the legal basis the U.S. is claiming to control Syrian oil fields.

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Posted at 10:01 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Geopolitical and financial analyst Warren Pollock says if you look beneath the veneer, the USA and China function much differently than their stated forms of government. Pollock explains, “Now, we have melded the organs of state that we need to run a country with our corporations. They are one in one, hand in hand. So, the FAA and Boeing are tied at the hip. Tobacco companies and the FDA are tied together. . . . Then we have technical failures because of that, and we have a big bureaucracy. That is all functional communism. . . . Communism ignores fact. It is fact resistant, and that is what communism is. The housing market is fact resistant. Bitcoin is fact resistant. The news is fact resistant, and you have people that are fact resistant people. If you confront them with a fact, they look at you like you are crazy.”

Pollock says this is why government in America and part of the society functions like it is “incompetent.” Meanwhile, China is practicing something more like the Nazis (National Socialists) of 1930’s Germany. According to Pollock, “This is way more dangerous.”

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Posted at 11:16 AM (CST) by & filed under In The News.

J. Johnson’s Latest – Silver Is On Sale And The Resolutes Know It!
Great and Wonderful Friday Morning Folks,   

      Sales abound in the paper contracts of the precious metals arena with Gold’s “On Sale” price now at $1,458.50 down $7.90 and close to the low at $1,457.00 with the high at $1,473.90. Silver seems to be getting the worst of it with its trade at $16.755, down 25.5 cents after hitting $16.66 with the high to beat at $17.095. Even all the madness of the political crowds can’t budge the US Dollar from its lofty heights with the trade at 98.155, up 16.6 points, it too close to the ridiculous, I mean, its high at 98.17 with the low at 97.945. All this paper being thrown around way before 5 am pst, the Comex open, and the London close.    

      The holders of precious metals may not be happy with the price drops, but the buyers are thinking just the opposite with Venezuela’s Bolivar now pricing Gold’s value at 14,566.77, dropping 265.67 Bolivar overnight with Silver now trading at 167.34 losing 7.69 Bolivar. In Argentina Gold is now valued at 86,920.16 dropping 1,685 Pesos with Silver at 998.52 Peso’s dropping 47.05 overnight. In Turkey, Gold is now priced at 8,397.24 losing 134.81 T-Liras with Silver now priced at 96.46 T-Lira, a loss of 4.20.   

      November Silver Deliveries proved Comex had the receipts to deliver 215,000 ounces of Silver (43 fully paid for contracts) yesterday, leaving the Open Interest at 3 and with zero Volume and no trading range so far today. We await our Resolute Silver buyer. The more the Resolutes buy the cheaper the Comex prices, Heads he Wins Tails he Wins – Eventually! Remember this is a game against the biggest criminal element in history, it’s not supposed to be easy.   

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Posted at 9:29 AM (CST) by & filed under In The News.

J. Johnson’s Latest – Regardless of “Who”, Silver’s Resolute Buyers Continue…
November 7, 2019

Great and Wonderful Thursday Morning Folks.   

It looks like the price of Gold can’t shake off the weight of paper (for now) with the trade at $1,485.10, down $8.10 and close to the low of $1,482.00 with the high to pass at $1,493.60. Silver is still being kept within yesterday’s trading range with the trade at $17.525, down 7.3 cents with the low at $17.436 and the high at $17.645. The US Dollar’s trade is flat as can be with its value pegged at 97.805, up 4.1 points with the high right here at 97.85 and the low at 97.66. All of this was done before 5 am pst, the Comex open, and the London close.

      In our emerging markets currency watch we have declines in Gold but increases in Silver values across the board. In Venezuela, the Bolivar now has Gold priced at 14,832.44 showing a loss of 11.98 Bolivar for those that hold with Silver now priced at 175.03 Bolivar proving a gain of 0.748. In Argentina, Gold priced under the Peso is now at 88,605.16, showing a loss of 59.38 in A-Peso value with Silver holders seeing a price of 1,045.57 Peso’s proving a gain of 4.61 in the overnight. Over in Turkey, the Lira now has Gold priced at 8,532.05 proving a loss of 26.97 in T-Lira’s with Silver holders seeing their price under the Lira at 100.66 giving the holder a 0.205 gain in T-Lira value.     

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Posted at 9:27 AM (CST) by & filed under Jim's Mailbox.

From our friend Robert, a set of eyes from outside of the US.

Bill

Democrats’ ‘Star Witness’ Admits He Wasn’t On Trump-Ukraine Call, Sole Source Was NY Times
November 6, 2019

House Democrats have released the latest in the series of heavily-redacted transcripts of the secret hearings they had undertaken in recent weeks – that of Bill Taylor – the top US diplomat in Ukraine – ahead of his public testimony next week.

As The Hill notes, Taylor is viewed as a key witness who previously testified in meticulous detail about what he considered an effort by Trump and his allies to pressure Ukraine into opening investigations that would benefit Trump politically.

In leaked copies of his 15-page opening statement, Taylor voiced concerns that the Trump administration had withheld nearly $400 million in aid as leverage to get Ukrainian President Volodymyr Zelensky to open investigations into interference in the 2016 election and former Vice President Joe Biden, one of his leading 2020 political rivals.

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Bill/Jim,

If what we are seeing moves forward, we may be witnessing the “Unwinding” of the criminal element…

JB

Dangerous Liaisons: New York Fed and JPMorgan’s Incestuous Relationship
November 6, 2019

The Federal Reserve Bank of New York (New York Fed) is just one of the 12 regional Federal Reserve banks around the country. But it has amassed enormous powers for itself since the Federal Reserve was created in 1913. Three of those powers dwarf all others: the ability to create money electronically at the push of a button; the accepted right to meddle in the markets; and the supervision of some of the largest bank holding companies in America.

After Wall Street blew itself up under the indulging and incompetent supervision of the New York Fed in 2008 and it was exposed that the Fed had secretly created $29 trillion in electronic money to bail out zombie banks – most of that funneled out by the New York Fed – most rational folks would have assumed that Congress would have stripped it of supervisory and money-printing powers for bailouts. Insanely, that did not happen and here we are today with the same deeply-conflicted New York Fed creating its own money to dole out $690 billion a week in super-cheap loans to unnamed securities firms while buying up $60 billion a month in the debt of the United States. (The Fed doesn’t want you to call the $60 billion a month QE4 because that would strongly suggest that this is just Stage II of the continuing 2008 bailout of Wall Street and that QE-Infinity is coming.)

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