Posted at 8:30 AM (CST) by & filed under General Editorial.

Great and Wonderful Tuesday Morning Folks,

      Gold is still in the green with the April contract at $1,732.20, up $3 and close to the high of $1,736 with the low at $1,724.40. Silver is giving the sell signal, with the trade at $26.155, down 13.3 cents and trading right by the low at $26.065 with the high at $26.405. The US Dollar’s new trading month is now June with the trade pegged at 91.71, down 12.2 points with the low at 91.69 and the high at 92.00. Of course, all of this happened before 5 am pst, the Comex open, the London close, and as we still wait for an official date for Biden to address the joint session of congress, which most likely would be the lowest viewed address since the start of radio or television.

    Gold, under the Venezuelan Bolivar is now worth 17,300.35 Bolivar proving a gain of 29.96 overnight with Silver losing 0.30 with its last trade at 261.27 Bolivar. Further south in Argentina, Gold gained 743.39 Peso’s with the last price at 157,741.89 with Silver gaining 4.72 with its last price at 2,382.21 A-Peso’s. Turkey’s last trade in Gold occurred at 12,944.85 Lira showing a loss of 70.40 with Silver at 195.50, down 1.68 T-Lira’s.

      March Silver’s Delivery Demands now stand at 1,209 fully paid for contracts waiting for receipts and with 170 new swaps already up on the board between $26.145 and $26.13 with the last trade at $26.145 so far today. Monday’s delivery activity happened in between $26.335 and $25.925 with the last purchase at $26.30, after the Comex closed its day out at $26.253 which had a total of 143 buys raising today’s count by 93 contracts. Was this a Resolute Purchase or a Bunch of Apes from WallStreetSilver? We hope it’s both! Silver’s Overall Open Interest gained as well as another 1,236 contracts had to be added for liquidity bringing the early morning total to 156,978 Overnighters to go against real price discovery, for now.

       March Gold’s Delivery Demands now has a total of 192 fully paid for contracts waiting for receipts and a Volume of 78 already up on the board with a trading range between $1,732.20 and $1,729.50 with the last buy at 1,730.30, a gain of $1.40 so far today. Yesterday’s Ides of March trade happened in between $1,731.90 and $1,722.80 with the last buy at $1,727.70, a gain of $8.20 after Comex Calculated its close at $1,731.70 which had a total of 147 new swaps that helped raise the demands by 9 contracts. Also, of note was the reduction in the standing delivery count from 70 to 69 during Comex trading yesterday. Minor yes, yet it helps prove the lack of accuracy at the Comex, which is still a common core problem even after all those algo’s took over. Gold’s Overall Open Interest shows a gain of 6,028 more short contracts having to be added bringing the early mornings total to 472,427 contracts to trade against the physicals.

      The rumors continue in Silver as one of the Apes at Wall-Street-Silver put out a claim; Breaking news Perth mint out of physical silver bullion for the next minimum 6 months. Hi Everyone in addition to my recent post. My friend just called Perth mint asking to claim his $300k of unlocated silver that he bought last year. They told him that they will put him on the waiting list and couldn’t give him any specific date for delivery. They told him for big orders could be over a year. Let’s see if there is a confirmation from another source.

      These new buyers have an attitude I truly love, regardless of how little is purchased. Each and every one receives notes of encouragement after they post their purchases with a few adding comic relief. 

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      Every purchase matters! Consider what Andy Schectman said during one of the Silver gathering videos over a weekend a few weeks past. He had to buy spot futures contracts to cover his demands after selling out everything. Each major supplier does the same thing in order to protect their businesses. Even the smallest purchase adds up to a level that needs coverage eventually. With the WSS (Wall Street Silver) group doing what they are doing, it makes sense that the demands would pick up like they did yesterday. One day, it’s all going to matter, which is why we continue to support the buying of physicals anywhere and in turn, it drains the Comex’s paper strength.

      We’re in the Triple Witch Week, with the usual pressure being applied for now. Regardless of the precious metals price actions, the US Treasuries have a problem, which is the core issue. So, keep buying up physicals and get out of the system while you can and …

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Stay Strong!

Jeremiah Johnson

JeremiahJohnson@cableone.net

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

Posted at 7:39 AM (CST) by & filed under Jim's Mailbox.

The saying goes; a picture is worth a thousand words. In this case the pictures represent $trillions!

Bill

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Posted at 6:15 PM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Michigan State Economics Professor Mark Skidmore revealed three years ago there was $21 trillion in what he called “Missing Money” from the Department of Defense (DOD) and Housing and Urban Development (HUD).  To hide what was going on with the federal books, Congress made all government accounting a national security issue, making it impossible to get real accounting of money “We the People” pay in taxes.  Now, even more unofficial and unaccounted for cash has been revealed from the DOD.  It’s an eye popping $94 trillion from the years 2017 to 2019.  So, add in the $30 trillion in official debt, and that means there is at least $145 trillion in overt and covert money floating around in the federal government, not counting Social Security and Medicare commitments.  This story sounds like a fantasy or a cartoon, but it’s totally backed up with facts you will never hear on the legacy media.  Dr. Skidmore, who is an expert in public budgets, explains, “In my mind, it does not follow the principles laid out in our Constitution in accounting for revenues coming in and expenditures going out.  It’s fraudulent in my mind.”

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Posted at 8:33 AM (CST) by & filed under General Editorial.

Great and Wonderful Friday Morning Folks,

      Gold is trading at $1,701.30 down $21.30 and right close to the usual low of London at $1,696.60 with the high to beat at $1,726.10. Silver is leading the beatings, even though the inventory arguments persist, with the trade at $25.595, down 59.8 cents after the dip down to $25.48 with the high at $26.235. The US Dollar continues to see support, for now, with the trade at 91.875, up 45.7 points with the high right there at 91.96 and a low at 91.405. Of course, all this happened before 5 am pst, the Comex open, the London close, after more money is being passed out by Team Biden, and after the governing body in commodities did its homework on the WallStreetBetz – SilverBackApes.

      Gold, under the Venezuelan Bolivar, is now priced at 16,991.73, a savings of 284.65 with Silver trading at 255.68, a 7.19 Bolivar discount over yesterday morning. In Argentina, Gold lost 2,494.97 Peso’s overnight with the current buy price at 154,447.29 with Silver buyers seeing a 63.76 discount over yesterday’s gains with its last trade at 2,324.16 A-Peso’s. Lastly, Gold under the Turkish Lira, didn’t even lose half of yesterday’s gains, with the last trade of the day at 12,906.14 Lira down 16.71 with Silver losing 2.36 (more than yesterday’s gains) with its last buy at 194.20 T-Lira.

      March Silver’s Delivery Demands now has a count of 1,148 fully paid for 5,000-ounce contracts waiting for delivery with a Volume of 16 already up on the board with a trading range between $26.20 and $25.705 with the last buy at $26.725, down 43.7 cents, so far today. Thursday’s full day of ICE Deliveries happened in between $26.41 and $26.04 with the last buy at $26.17, with Comex Calculating its Close at $26.162, a gain of 6 cents which had a total of 37 new swaps that helped increase the demand count by 12 contracts. Silver’s Overall Open Interest proves a gain of 543 Overnighters bringing our early morning total to 156,662 “shorts over physicals” as the draining continues, unabated.

      March Gold’s Delivery Demands now has a count of 309 fully paid for 100-ounce contracts waiting for receipts with a Volume of 58 already up on the board and a trading range between $1,715.90 and $1,699 with the last swap of London at $1,699.20 down $23.10 so far today. Yesterday’s full day of ICE Delivery demands had a total of 18 swaps that happened in between $1,737.50 and $1,720.20 with the last buy at $1,721, and a CCC at $1,722.30, gaining 80 cents on the day, which helped reduce the delivery demands by a whopping 1,726 contracts, that got something, like a receipt, or was sent to London via EFP, so they can take delivery over there, or to short a delivery contract into the Comex open, maybe. Not only did the Demand Count fall quite a bit, so did the Overall Open Interest, as 7,840 “papers over physicals” left the field of play leaving 468,453 Overnighters to keep things in control.

      I listened to yesterday’s CFTC hearing (last month’s congressional one too) and am grateful they addressed the WallStreetBetz-Silver-Back-Apes and their want for physical Silver. This had to be done after the Congressional Hearing over GameStop, a failing mall-queen, which just so happened to have certain hedge funds shorting a combined total of 140% “short over actual shares” (an accusation from WSB), which these “low IQ crayon eating retards” traded against, and buried! When these reddit site members mentioned they wanted to go after the Silver Shorts in Comex, the governing bodies perked up. The CFTC employee, claimed during the audio hearing, that their investigation into the WSBz-Apes proved to be mute, or not even noticeable. Another person in the hearing mentioned they are reading the sites and are making adjustments accordingly (algo?). 

      I thought they would gloss over the issue, and they did, imo, the had no choice. How can a regulator determine from the names used in Reddit, and match those with real accounts that are buying physicals in stores or at the Comex? For example, is there a real person named “FlamingKitty”, “Physical_Farmer_4222”, “FartInACrowdedElevator”, or “JakeFromStateFarm” that have checking accounts and all proper verifications needed in order to trade in commodities? The Reddit site is all about privacy, so these people make up names, then gain followers based on their points of view and humor. My thoughts, in all things investing; was/is real names, matching SS numbers, addresses, et al, have to be used period, at least I thought so, I best leave room to be wrong here since the CFTC has done its homework.

      In the meantime, the deliveries continue, Comex claims to have deliverable metals, our electronic manufacturers still have needs, and the premiums are still high! Now there is another group, that wants physicals at any price. This group has more pictures from the “Low-IQ-Apes” that are truly inspirational!

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      We haven’t even seen their Billboard Signs yet, so Stay Tooned, keep buying up physicals, and welcome any and every one including fake names, into the purchases of physicals while the printing of dollars continues, weakening everyone’s purchasing power and retirement accounts. Enjoy your weekend, find a smile no matter what, and as always …    

Ape Up!

Jeremiah Johnson

JeremiahJohnson@cableone.net

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

Posted at 8:38 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Money manager and economist Michael Pento warns the era of super low Fed manipulated interest rates is coming to an end.  This is big trouble to the bond market and the overall economy.  Pento explains, “I think what’s happening now is about 35 years of government manipulation of markets is about to end.  The faith that we have in our government and the faith that we have in our central banks is coming to an end.  As evidence of that, the 7-year note auction was the worst auction in U.S. history. . . . It just goes to show you the faith in our bond market is eroding.”

Now, we are facing multiple bubbles as opposed to just the sub-prime crisis in 2007-2008.  Pento points out, “So, we have another bubble in real estate, but back in 2007, all we had was a bubble in real estate.  We really didn’t have a massive bubble in the stock market.  The total market cap to GDP was only 100% back in 2007.  Now, it’s 191% of GDP, and, of course, you have a massive bubble in the bond market.  You have $15 trillion in negative yielding sovereign debt and a U.S. Treasury at .3% in March of 2020.  So, we have a triumvirate of bubbles that are all held together by this artificially low interest rate.  Here’s the catch 22. . . . We are sending more checks to people, $1,400 checks in Biden’s Covid relief package.  So, we are monetizing debt.  We are creating inflation.  If you continue to print money, borrow money and monetize that debt, inflation is going to wax higher and higher.  You are going to blow up the bond market.  If you blow up the bond market, you will blow up high yield, you will blow up credit, you will blow up the real estate market and then the stock market.  If they stop, the only buyer of U.S. Treasury bonds . . . is the Federal Reserve.  If they lose the bid of the Fed and it stops printing money and buying . . . rates spike . . . and then you see a massive deflationary bubble from a massive fiscal and monetary cliff.  It’s game over either way, and that’s where we are now.  If you keep printing and keep manipulating markets, you have a bond market crisis.  Stop printing, you have a deflationary crash of asset prices.  That’s it, that’s where we are headed.”

More…

Posted at 8:42 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Sadly, everything financial sits upon a foundation of “credit”.

Repo Chaos Continues: “Market Just Doesn’t Know Where To Price The 10-Year”
March 8, 2021

The Federal Reserve and Jay Powell want to pretend that all is well with the repo market, but nothing could be further from the truth.

Last Thursday, we presented to our readers the latest repo market data showing just how broken and inverted the traditional fund flows surrounding the world’s “most liquid” and important security had become in “Historic Repo Market Insanity: 10Y Treasury Trades At -4% In Repo Ahead Of Monster Short Squeeze.” One day later, the chaos got even worse as discussed in “10Y Treasury Hits A Stunning -4.25% In Repo As Yields Blow Out.” Very simply, this meant that an investor in the repo market lending money so others could short the 10Y would end up paying rather than getting paid. As we explained said “this is a clear breach of one of the most fundamental relationships in the repo market, where lenders of cash always get paid – however little – in order to make a more liquid and efficient market.”

The repo rate sliding far below the “fails charge” of 3.00% which is viewed as the lowest theoretical level where dealers are punished for not delivering a 10Y Treasury i.e., there is a delivery “fail”, was striking but what was even more striking is that the recent repo crunch has been surpassed just once in history: when the 10Y hit a record low repo print of -5.75% during the fear and loathing of the covid crash chaos on 3/13/20, when the Treasury bond market essentially broke down for several hours.

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Posted at 8:31 AM (CST) by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

     It’s apparent, that the powers that be are not done telling us how worthless precious metals are, with Gold down $15.00 with the April trade at $1,683.50 right by the low of London at $1,681.40 with the high to beat at $1,712. Silver is following, at least the paper contracts are, with the trade at $25.165, down 12.2 cents with the low right here at $25.115. The US Dollar is trading higher, with the Index calculated at 92.32, gaining 33 points with the high right there at 92.335 with the low down at 91.865. Of course, all this happened before the Comex open, the London close, and after the government bails itself out again with more unearned money, in order to tell us how wonderful things really are.

      In Venezuela, Gold is now priced at 16,813.96 Bolivar, showing another 91.88 pull from Friday with Silver’s last trade at 251.39, a reduction of 1.79 Bolivar. Argentina now has Gold pegged at 152,013.34 showing another 831.44 A-Peso pull with Silver losing 15.92 with its’ last trade at 2,272.96 A-Peso’s. The Turkish Lira is playing the odd duck with Gold gaining 278.07 with the last quote at 12,946.87 Lira with Silver

gaining back all of Friday’s pull (3.91) with the last trade at 193.68 T-Lira.

      March Silver’s Delivery Demands now has a total of 1,759 fully paid for 5,000-ounce contracts waiting for receipts with a Volume of 33 already up on the board and a trading range between $25.71 and $25.215 with the last buy at $25.24, down 1.7 cents so far today, while the future months tell us; Paper Good, Silver Bad. Friday’s full day of delivery trade happened in between $25.37 and $24.905 with the closing price at $25.257, a loss of 17.7 cents that had a total of 339 contracts trading hands that helped reduce the demands by 420 contracts that at the very least, got receipts, maybe. Silver’s Overall Open Interest lost another 282 contracts leaving a total of 154,990 contracts to trade against the physicals we’re told are in Comex warehouses. Could it be all of the activity is in the warehouse receipts? We think it’s probable.

      March Gold’s Delivery Demands now total 919 fully paid for 100-ounce contracts waiting for receipts and a Volume of 271 already up on the board with a trading range between $1,705.40 and $1,695.40 with the last buy at $1,696.60, down $1.40 while all that newly printed paper still pushes the futures prices lower, in Paper Good, Gold Bad fashion. Friday’s full day of delivery trades happened in between $1,701 and $1,685 with the last swap at $1,698, down $2.20 that had a total of 302 contracts swapping hands which only reduced the demands by 80 contracts. Gold’s Overall Open Interest shows a gain of 4,005 additional paper contracts giving us an early morning total of 470,358 Overnighters willing to trade against the physicals.

A federal judge has reinstated a Michigan County voter fraud case after the county clerk (without proper authority) dismissed it … Judge Kevin Elsenheimer issued two separate orders to immediately reinstate the Antrim County election fraud case, ruling the clerk’s non-service dismissal was improper.

      2 weeks ago, a Federal Arizona Judge ruled that Maricopa County must provide the 2020 ballots to the Arizona Senate for a forensic audit under multiple subpoenas. Then this last Saturday, a two-barn fire happened at a chicken ranch that one of the Maricopa County Board of Supervisors just so happens to own. What does that have to do with the court ruling? Well, before being told when and where to deliver the ballots, at least one of the Maricopa County Board of Supervisors, is accused in this article, of having the ballots loaded onto a truck. Ironically or not, that very same truck, found its way to that chicken ranch, just before that fire.

      With the most voted for president ever in office, one would think there would be no problem confirming the ballots, yet here we are, months later still wondering how the Supreme Court can claim all these accusations are of no concern. With so much law and order in place, one can understand why the Treasuries continue to trek lower, causing rates to rise, as well as the S&P and the rest of the papers that represent US Market investments, stays red.

      We’ll continue to encourage the purchases of physical precious metals no matter who you are, while the money is made, and is passed out freely. If I get this Biden money, it’s going right into Silver, that is if I get it, since I’m a deplorable, degenerate, and now labeled a neanderthal for not wearing a mask. Enjoy your day and find a smile no matter what. As always …

Stand Your Ground!

Jeremiah Johnson

JeremiahJohnson@cableone.net

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