Posted at 4:02 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

You are now a full blown “racist” if you disagree with anything the Liberals profess. Sadly, you are tagged with some sort of “ist” or “obia” whenever your real logic begins to dent their mushy brains. Thank our pristine Universities for cultivating idiots…

Biden Goes All In on the Race Issue
August 9, 2019

Those who believed America’s racial divide would begin to close with the civil rights acts of the 1960s and the election of a black president in this century appear to have been overly optimistic.

The race divide seems deeper and wider than at any time in our lifetimes. Most of the aspiring leaders of the Democratic Party have apparently concluded that branding the president a “racist” and “white supremacist” is the strategy to pursue to win the nomination and the White House.

Here is Joe Biden, speaking in Iowa as President Donald Trump was visiting the wounded communities of Dayton, Ohio, and El Paso, Texas: “This president has fanned the flames of white supremacy in this nation. … The energetic embrace of this president by the darkest hearts and the most hate-filled minds in this country says it all.

“We have a problem with this rising tide of … white supremacy in America. And we have a president who encourages and emboldens it.”

What had Trump done to invite such a charge?

More…

Bill Holter’s Commentary

Even if you believe central banks have the ability to bail out the entire global banking system (they cannot), have you ever asked yourself “how” and what it really means to currencies themselves?

Bailout #3: Chinese Bank With $200 Billion In Assets Is Nationalized
August 9, 2019

Step aside Baoshang Bank and Bank of Jinzhou, it’s time for Chinese bank bailout #3.

Last month, when reporting on the imminent failure of yet another Chinese bank in the inglorious aftermath of Baoshang Bank’s late May state takeover, we dusted off a list of deeply troubled Chinese financial institutions that had delayed their 2018 annual reports…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

… and noted that the #2 bank on this list, Bank of Jinzhou recently met financial institutions in its home Liaoning province to discuss measures to deal with liquidity problems, and in a parallel bailout to that of Baoshang, the bank was in talks to “introduce strategic investors” after a report that China’s financial regulators are seeking to resolve its liquidity problems sent its dollar-denominated debt plunging.

Just a few days later, that’s precisely what happened, when in late July, Industrial and Commercial Bank of China (ICBC), the country’s largest lender by assets, China Cinda Asset Management and China Great Wall Asset Management, two of China’s four largest distressed debt managers, said on Sunday they would take stakes in Bank of Jinzhou.

More…

Bill Holter’s Commentary

Kathy Griffin on steroids? Liberals of today do not even resemble the liberals I remember, these people are demented. The odds of eventual civil war in the U.S. have never been higher.

Hollywood Blockbuster That Satirizes Killing Of ‘Deplorables’ Causes Outrage: ‘Demented And Evil’
August 9, 2019

A controversial movie about privileged vacationers hunting “deplorables” for sport is ruffling feathers more than a month before its scheduled release and after tragic mass shootings in El Paso, Texas and Dayton, Ohio.

“The Hunt” is billed as a satire that follows wealthy thrill-seekers taking a private jet to a five-star resort where they embark on a “deeply rewarding” expedition that involves hunting down and killing designated humans. The Hollywood Reporter reported on Tuesday that “Universal is re-evaluating its strategy for the certain-to-be-controversial satire” following the shootings after ESPN reportedly pulled a trailer for the film that had been previously cleared to air on the sports network.

“The violent, R-rated film from producer Jason Blum’s Blumhouse follows a dozen MAGA types who wake up in a clearing and realize they are being stalked for sport by elite liberals,” THR’s Kim Masters and Tatiana Siegel wrote. “It features guns blazing along with other ultra-violent killings as the elites pick off their prey.”

According to the Hollywood trade publication, characters in the film refer to the victims as “deplorables,” which is what Hillary Clinton famously dubbed Trump supporters during the 2016 election. The report noted that a character asks, “Did anyone see what our ratf–ker-in-chief just did?”

More…

Bill Holter’s Commentary

As we have said all along, China will do what China believes is best for them …

Is China Hoarding Food, Gold And Other Commodities In Anticipation Of A Global Collapse?
August 8, 2019

Does China believe that we are on the verge of a major global crisis?  The communist Chinese government has always been very big into planning, and it appears that they have decided that now is the time to hoard food, gold and other commodities.  Of course in recent days the fact that China is completely cutting off U.S. agricultural imports has made headlines all over the globe, but at the same time China is dramatically increasing the amount of food that it is importing from the rest of the world.  The end result is actually a substantial surge in Chinese imports, and this is starting to show up in the official numbers.  For example, we just learned that Chinese soybean imports in July were actually up 8 percent compared to last year…

More…

J. Johnson’s Latest – Who’s Buying All Those Short Term Calls in Silver?
August 9, 2019

Happy Friday Morning Folks,    

      It seems the term “Buy the Dip” is still the precious metals strategy of the day (and past few months) with Gold trading higher at $1,515.40, up by $5.90 after trading as high as $1,521.10 with the low close by at $1,510.50. Silver is trading in the positive as well with the trade at $17.02, up 7.9 cents after reaching up to $17.14 before being slammed down to $16.93 then the recovering again. The US Dollar is doing another steady Eddie move with the value pegged at 97.35, down 8.4 points and close to the low at 97.31 with the high up at 97.465. All this occurred in the dark, before 5 am pst, the Comex open, and the London close.    

     Our Emerging Markets Currency watch is showing a mostly negative trade period in the overnight session. The Venezuelan currency view has Gold priced at 15,135.06 showing another 54.93 Bolivar’s being added to the price with Silver at 169.987 showing at .25 Bolivar lose. Argentina’s currency now has the price of Gold at 68,455.80 A-Peso’s dropping 253.73 in the overnight with Silver losing 6.592 in A-Peso value with its price pegged at 768.867 Pesos. Turkey’s Lira now has Gold gaining 38.59 T-Lira with the going price at 8,332.04 with Silver seeing minor pressure with its price at 93.5631 down by .0222 T-Lira.    

      August Silver Deliveries are showing a sizable drop in demand with the count now at 256 fully paid for contracts waiting for receipts, proving a drop of 180 physical obligations or EFP’s going to London with a Volume of 10 up on the board with the repeating occurrence being, no trading range. Once again, the opaque parenthesis trades are equaling each other in count between the August and September contracts even though the prices are different and still with no trades posting. The Resolute Longs are causing quite the stir these days with the early morning Overall Open Interest count at 243,791 Overnighters, showing a drop of 1,902 obligations from yesterday’s early morning record breaking OI tally. It must be remembered my count is NOT the closing numbers given at the end of the day. My posted numbers are live and in the early morning. These tallies may reflect the added pressure we see in the early morning trade after the Comex close and the reopening of the global trade. The papers still dominate the price but the obvious stress is here showing plenty of reasons to support the Resolutes that have remained these past few years.

More…

Posted at 11:17 PM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

Can’t help but wonder what people are thinking.

“Germany’s yield curve is negative all the way out to 30 years”

https://www.zerohedge.com/news/2019-08-07/german-banks-cutting-nose-spite-face

And many other global debt markets, including the U.S, are currently or expected to go negative.

“With more than $15 trillion in debt trading with a negative yield, there doesn’t seem to be any better alternative to gold,”

https://www.kitco.com/news/2019-08-08/Gold-Silver-Precious-Metals-Daily-News-Briefs.html

That sort of leaves out getting any sort of return in the debt markets.

In fact, you have to PAY to keep your money there.

That, by definition, in NOT an investment.

The stock market appears toppy to say the least, especially with the spectre of global recession hanging overhead, especially with widespread currency wars in vogue and Central Banks losing all control.

 “If Trump’s administration considers intervening in the U.S. dollar to bring it down, expect to see another steep rally in the yellow metal price,” Sayed states.

https://www.kitco.com/news/2019-08-08/Gold-Silver-Precious-Metals-Daily-News-Briefs.html

Gold’s surge is a message:  Central Banks are out of control;

..gold is a measure of faith in central banks that everything is under control.

https://www.zerohedge.com/news/2019-08-08/golds-surge-message-central-banks-are-out-control-not-inflation

Perhaps someone can direct me to alternative that doesn’t guarantee to lose me money?

Aside from precious metals, of course.

This looks like a no brainer if I ever saw one.

CIGA Wolfgang Rech

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

J. Johnson’s Latest – The Resolutes Longs Are Forcing The Shorts To Add More Shorts
August 8, 2019

Great and Wonderful Thursday Morning Folks,    

      Gold has a correction happening with the trade down $9.70 at $1,509.90 after dipping down to $1,503.50 with the high to beat at $1,518.60. Silver is following along with the trade at $17.045 down 15.1 cents and close to the low at $17.01 with the high to beat at $17.225. While all this pressure is being applied to slow the precious metals reactions, the Dollar ain’t doin’ much with its trade at 97.435, up by 9 points and close to the high at 97.45 with the low to beat at 97.255. All of this of course was done way before 5 am pst, the Comex open, and the London close.

      It’s still all positive in our emerging markets currency watch. Venezuela is still adding value to the Nobel metal with the trade now at 15,080.13, adding 39.95 more Bolivar with Silver at 170.237, it too adding .999 in Bolivar value. Argentina’s currency has added 551.83 Peso’s to the price of Gold with the trade at 68,709.53 Pesos with Silver trading at 775.606 adding 8.734 Pesos. In Turkey, Gold is now trading at 8,293.45 Lira adding 25.42 in value with Silver’s trade now at 93.5853, it too adding .5360 Lira.      

      August Silver’s Physical Demand count now stands at 436 fully paid for 5,000 ounce contracts waiting for receipts and with a Volume of 28 up on the board so far this morning. Once again, we have another day of no trading range (yesterday) to offer in the delivery month. We’re still challenging the opaque here, if the count is real, how can the additional 29 contracts be added to the mix without a price? Also of note, the closing price for the delivery month now stands at $17.156, adding .751 cents to the price from the previous day’s close. Maybe today we’ll see some lower price swings as the stage is set for an attempt at beating the Resolutes. The big question for today; are the Resolutes going to add more Longs? Stay Tooned!    

More…

Posted at 6:09 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

This is not a trading event, but a seminal one!

“the bank stated that it sees the U.S. dollar losing its status as the world’s dominant currency, and consequently depreciating in value.”
 
“To us, this makes sense: gold is a stable source of value with thousands of years of trust among humans supporting it,” he said.

All I can say is WOW!  The powers that be are revealing themselves.

CIGA Wolfgang Rech

Ditch the Dollar, Buy Gold and Other Currencies: JP Morgan
August 06, 2019

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

(Kitco News) – Investors should diversify away from the U.S. dollar and increase their exposure to other major currencies and gold, according to a report from JP Morgan.

In a recent market note, the bank stated that it sees the U.S. dollar losing its status as the world’s dominant currency, and consequently depreciating in value.

“There is nothing to suggest the dollar dominance should remain in perpetuity,” the note said. “In fact, the dominant international currency has changed many times throughout history going back thousands of years as the world’s economic center has shifted.”

JP Morgan attributed the dollar’s decline to China’s emerging role as an economic power, a trend that can be traced back to after the Second World War, as China “has been at the epicenter of [a] recent economic shift driven by the country’s strong growth and commitment to domestic reforms.”

More…

Posted at 5:57 AM (CST) by & filed under In The News.

J. Johnson’s Latest – Resolute Longs And The Silver Stress Test Challenge!
August 7, 2019

Great and Wonderful Wednesday Morning Folks,    

       Gold is higher, and right now the December trade is at $1,505.90, up $21.70 and right close to the high of $1,507.70 with a low at $1,484.30. Silver is leading the charge with its trade at $16.945, up 50 cents with its high close by at $16.97 and the low down at $16.45. The Dollar is staying in place for now with the value pegged at 97.425, up 8/10ths of a point with the high at 97.535 and the low to beat at 97.225. All of this was done way before 5 am pst, the Comex open, and the London close.    

       Our emerging markets currency watch is all positive today! In Venezuela, the Bolivar now has Gold priced at 15,040.18, showing a gain of 313.61 Bolivar with Silver now at 169.238 adding 5.443 Bolivar to the price. In Argentina, the Peso has Gold valued at 68,155.04, a rocket ship launch of 1,229.08 Pesos with Silver now trading at 766.872, et tu adding an additional 22.437 in A-Peso value. Turkey’s Lira has Gold priced at 8,268.03 adding 107.80 Lira to its value with Silver now at 93.0493, a jumping of 2.2878 T-Lira’s.    

     August Silver’s Delivery requests now shows a post of 407 contracts, fully paid for and still waiting for receipts, with a Volume of 9 up on the board so far this morning. Just like yesterday’s trades, and after seeing the previous day‘s volumes go to 30, we still have no trading range to offer today, with the delivery month‘s closing price at 16.405 proving 7 contracts were settled out yesterday either in EFP’s to London or physical’s here. There’s nothing to worry about because all the trades being done in the delivery month are none of your business. The secret parenthesis’s trade has taken over the Comex. I’ll argue the point here that “if” these are spread trades entering or exiting, there HAS TO BE A PRICE COORDINATE! And they should be posted! Hello McFly! Silver’s Overall Open Interest is proving the shorts are still “staying the price” by adding more short contracts with the total count right now at 239,938 Overnighters still in play proving the addition of 1,430 more contracts where added just to keep Silver from breaking double zeros ($17.00).    

More…

Posted at 12:54 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Click here for Part #2) 

Renowned geopolitical and financial cycle expert Charles Nenner says forget what the mainstream financial channels are saying about more Fed easy money policies pushing the markets higher. Nenner explains, “The clever institutions I work with were selling all the time when the S&P was around 3,000, and the small investor and public were buying, buying and buying. The clever money was so happy then . . . . The small investor buys and all the time they (clever money) get a chance to sell, sell and sell until they are finished selling. Then, suddenly something happens. Then the small investor who holds the cash and he’s in a crisis, and here we go down. I always stress to the small investor, understand how this game works. Day before yesterday, the Dow was down 1,000 (inter-day). I heard one person say maybe you should sell. It’s always buy, buy, buy. They don’t do anybody any favors because there are so many losses. I never hear CNBC say sell, sell, sell. So, it’s a crooked game.”

What does he say to people waiting for the Fed to drive markets back up with easy money? Nenner says, “We are finished with the cheap money. It’s not going to work anymore. That’s what the big investors understand. Even if we have 0% rates, it’s not going to keep this economy going. They cannot keep it going anymore.”

More…

Posted at 12:07 PM (CST) by & filed under In The News.

J. Johnson’s Latest – Can You Feel The Stress in Silver? I Bet The Bankers Do!
August 6, 2019

Great and Wonderful Tuesday Morning Folks,  

Gold is trading flat to lower in the early morning with the trade now at $1,474.50, down $2 and recovering from the low at $1,468.20 that was made only a few minutes ago, today’s high to beat is at $1,486.80 made after yesterday’s reopening. Of note, Gold is not even $458 away from making new all-time highs (really not that far away at all). Silver is flat as well but still trading positive with the price at $16.40, up 7/10ths of a penny with its low at $16.365 and the high to beat at $16.53. The US Dollar did what the president wanted yesterday but it wasn’t enough with the trade now at 97.405, up 9.7 points after dipping down to 96.98 before the sudden recovery with the high close by at 98.48. All of this of course was done sometime before 5 am pst, the Comex open, and the London close.  

     Our Emerging Markets Currency watch is a mixed bag this morning. In Venezuela, Gold is still gaining value with the price now at 14,726.57 proving a gain of 34.96 Bolivar, however, Silver is now priced at 163.795 showing a loss of .649 Bolivar. Argentina’s Peso now has Gold priced at 66,925.96 Peso’s adding another 1,333.35 in value with Silver now trading at 744.435 adding another 10.227 A-Peso to its price. Turkey’s Lira now has Gold valued at 8,160.23 showing us a loss of 1.02 T-Lira with Silver’s trade at 90.7615 as it loses .58 in T-Lira value.    

     August’s Silver’s Delivery Demands now show a count of 414 fully paid for contracts. This is only an 11 count drop from the previous days quote even with yesterday’s early morning Volume at 32 with the obvious note that the Volume always goes higher during the trading day. So far this morning the Volume is at 17, but once again, we have no trading range to offer, but those quotes in parenthesis are still ticking away as the opaque view remains the same, confusing. All the proof we need to show that Silver is about to do something major (up or down) is in the Open Interest. That count keeps going higher even with the price stuck in the mid $16’s with the early morning quote at 238,508 Overnighters proving a gain of 618 more short contracts being added in order to keep Silver from breaking through to newer highs. This is bringing us closer and closer to that commercial signal failure we’ve been waiting for. Can you feel the stress in Silver? I bet the bankers do!    

More…

Posted at 1:06 PM (CST) by & filed under In The News.

J. Johnson’s Latest – The Paper Vs. Real Rock Battle Goes On!
August 5, 2019

Great and Wonderful Monday Morning Folks,  

     I sure missed a day to remark on last Friday but today makes up for it all, with Gold breaking thru to newer highs with the trade now at $1,471.00, up $13.50 after traveling to $1,473.90 with the low starting point at $1,448.80. The Tag A Long Kid is doing fine as well with Silver’s trade at $16.465, up 19.5 cents after hitting $16.59 before all that calming paper was applied with the low at $16.135. The US Dollar is now trading at 97.435, down 41.7 points and right at the low of 97.425 with the high at 97.93. All of this was done before 5am PST, the Comex open, and the London close.  

     The Emerging Markets Currency watch now has Gold trading under the Venezuelan Bolivar at 14,691.61, showing a gain of 526.34 Bolivar since Thursday’s write up with Silver at 164.444 giving us a gain of 4.544 in Bolivar value. Argentina’s Peso now has Gold pegged at 65,592.61 proving a gain of 3,443.41 Peso’s with Silver now at 734.123 Peso’s showing a gain of 32.535. Over in the lands of Turkey, Gold is now priced at 8,161.25 T-Lira, it too proving a gain of 252.27 with Silver gaining 2.0474 with its price at 91.3415 Lira. We still think these prices moves are the future moves under the primary currencies, as the paper vs. real rock battle goes on.  

More…