Posted at 10:11 AM (CST) by & filed under In The News.

J. Johnson’s Latest – Mexico has a Wild Card in the Tariff Game – Silver
June 7, 2019

Good Friday Morning Folks,   

      Gold is trading lower this morning after a pretty good run with the price at $1,339.50, down $3.20 after it was pushed down to $1,334.30 with the high just above the now at $1,340.40. Silver is slightly lower as well with the price at $14.89, down 1.5 cents and right smack in the middle of its trading range between $14.94 and $14.84. The US Dollar is equally as flat, almost as if the Algos had no idea what today’s Unemployment report will say, with the trade at 97.035, up 3.8 points after reaching to 97.13 with the low at 96.96. All of this was done sometime before 5 am pst, the Comex Open, and the London Close.      

      Venezuela’s Bolivar price for Gold is now pegged at 13,378.26, taking off 16.98 Bolivar from yesterday’s price with Silver at 148.714, losing .599 of a Bolivar. Argentina’s Peso has Gold priced at 60,137.35, removing 77.06 of value with Silver losing 2.766 at 668.469 Pesos. The Turkish Lira is pricing Gold at 7,827.89 proving a gain of 81.38 T-Lira with Silver’s price at 87.0117 gaining .6743 in value.    

      June Silver’s Open Interest now shows a post of 5 with no evidence of a trade done during yesterday’s watch but somehow removing 45 contracts. So far today the Volume is still saying Zero, but with no trades reported during Comex, it’s hard to say what is going on. I was watching to see if another sizeable purchase would be agreed upon and did witness an order to purchase 78 more June Contracts at $14.885 but nothing shook the seller’s interest. Silver’s Overall Open Interest continues to grow proving the shorts have a problem and are the issue with the count now at 219,380 Overnighters, gaining another 2,953 more shorts in order to add liquidity against the physicals.    


Posted at 5:03 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Wow, doesn’t this chart remind you of the monetary base…in the US?










J. Johnson’s Latest – Will the Mexican Border Crisis affect Comex Silver?
June 6, 2019

 Great and Wonderful Thursday Morning Folks,   

      We start our morning off with another rise in precious metals pricings with Gold at $1,341.20, up $7.60 and right beside the high at $1,341.70 with the low at $1,331.30. Silver is still tagging along with its price at $14.95, up .159 cents and is literally at its high with the low at $14.73. The US Dollar is showing some selling with the trade at 97.080, down 17.1 and 2 points off the low with the high at 97.39. Of course all of this happened before 5 am pst, the US Market open, and the close of London.   

      Venezuela’s Bolivar now shows Gold priced at 13,395.24 adding another 11.99 to the weeks tally with Silver at 149.313, it too adding another 1.049 Bolivar. As a reminder here, Venezuela loped off a few decimals from its old currency value. If we were to observe Gold in the old Bolivar value, Au would be at 13,395,235.00 Bolivar and Ag would be at 149,313.13 Bolivar (in a 100 ounce Au contract and a 5,000 ounce Ag contract). Argentina’s Peso, which still has all its numbers, has Gold trading at 60,214.44 Peso’s, proving a whoppingly large increase of 1,326.02 A-Pesos with Silver doing the same, gaining 7.778 Peso’s proving a price of 671.235 A-Peso’s. Turkey’s currency is now showing Gold’s price at 7,746.51, proving a gain this time of 8.764 Lira with Silver now at 86.3374, a gain of 1.4782 T-Lira in the overnight.   

      Our June Deliveries in Comex Silver had a good jump in purchasing during yesterday’s game play as the buyer found a price the seller was willing to give away physical, with the count now showing a 50 lot on the board and with Zero Volume again. This is a gain of 46 additional purchases with most of the buying happening at $15 with a few sells later in the day pushing the real cash price lower than the futures prices. The rest of the day’s trade was all about reducing the spot price below the futures value because that buy order pushed all the months’ prices higher. If those lone sell orders didn’t show, the spot (cash) price would have closed above the further months which would have caused another inversion. In the old days, this was a close your eyes and buy moment because that literally meant a shortage of product to deliver. Ironically the Overall Open Interest in Silver only gained 57 additional contracts proving the total to be 216,427 Overnighters with almost all of this being added into the Delivery Month, a first for me, not sure about anyone else.    


Posted at 4:49 PM (CST) by & filed under Jim's Mailbox.

Something very strange is happening.


Global Trade Collapsing To Depression Levels
May 15, 2019

With the trade war between the US and China re-escalating once more, investors are again casting frightened glances at declining global trade volumes, which as Bloomberg writes today, “threaten to upend the global economy’s much-anticipated rebound and could even throw its decade-long expansion into doubt if the conflict spirals out of control.”

“Just as tentative signs appeared that a recovery is taking hold, trade tensions have re-emerged as a credible and significant threat to the business cycle,” said Morgan Stanley’s chief economist, Chetan Ahya, highlighting a “serious impact on corporate confidence” from the tariff feud.

To be sure, even before the latest trade war round, global growth and trade were already suffering, confirmed most recently by last night’s dismal China economic data, which showed industrial output, retail sales and investment all sliding in April by more than economists forecast.













Gold Gold Gold!


Central Banks Are Buying Gold At The Fastest Pace In Six Years
May 15, 2019

Authored by Simon Black via,

Earlier this month the World Gold Council published its quarterly report– and it shows that central banks and foreign governments from around the world are buying up gold at their fastest pace in six years.










This is pretty big news, and it says a LOT about the future of the dollar.

Remember, central banks and foreign governments hold literally TRILLIONS of dollars of reserves… and traditionally they do this by buying US government debt.

It sounds strange, but to big institutions, banks, etc., US government debt is equivalent to cash. They use it as a form of money.

More importantly, they hold US dollars because that’s the global standard: the US dollar has been the world’s primary international reserve currency for seventy five years.

So US debt is extremely liquid. In fact, the $22 trillion US debt market is the biggest and most liquid market in the world.

But foreign governments have started breaking with the tradition of buying treasuries.


Posted at 10:37 AM (CST) by & filed under Jim's Mailbox.


BOOM!!! someone just bought 50 – 5,000 ounce contracts of Silver for delivery between $15 and $14.88. The last 2 trades were at $14.88. This is done to control the futures prices and is the exact reverse of what should be happening. Draining the Comex is still the play.

Looks like the buyer triggered some selling out in the futures. Right now I see another order for 62 more contracts at $14.735…Someone has figured the game and is taking them on in the physical purchases…


Posted at 10:35 AM (CST) by & filed under In The News.

J. Johnson’s Latest – The Sellers of Silver Continue on Suiciding Themselves
June 5, 2019

 Happy Hump Day Morning Folks,   

      Gold did a fine job of recovering from yesterday’s attempted smash and with some more follow thru with Gold now at $1,340, up $11.30 after reaching as high as $1,344.80 with a low down at $1,329.30. Silver is still being dragged along with its trade up 7.6 cents at $14.845 after it too reached higher at $14.895 with the low at $14.775. Looking at the US Dollar, we see the buyers are still buying, as if to escape the failings of another currency, with its value pegged at 97.030, up 3.1 points after reaching up to 97.075 with the low recovery happening after it dipped to 96.845, all of this was done while we sleep, before the Comex Open, and the close of London.    

      The Venezuelan Bolivar now has Gold priced at 13,383.25 Bolivar, gaining 103.87 overnight with Silver at 148.264 adding back 1.398 in Bolivar value. In Argentina, the Peso has Gold priced at 59,888.42 Pesos, jumping up 229.52 in the overnight with Silver now pegged at 663.466, a regain of 3.621 A-Pesos overnight.  The Turkish Lira now has Gold pegged at 7,658.87, losing another 62.07 in T-Lira value with Silver at 84.8592, it too losing .5346 in value. This is what keeps me charged up every single time I write. These movements are not for the faint of heart, and I for one, truly look forward to seeing these rises under the primaries. Oh Boy!!   

      June Silver deliveries are trying to show a slow start for the summer, but like the weather, that too may change as we observe the June Silver Delivery demands at 4 fully paid for contracts and with Zero Volume up on the board so far this morning. What I have been observing these past few days is an order out there to buy up to 94 more contracts at a specified price but not taken. This buyer may be trying to trigger moves in one direction or another than remove the order only to replace it again. If this is one person, this act is illegal, if it’s an Algo, it may not be illegal, who the hell knows anymore? One thing for sure the CFTC is quiet on the subject. Even with yesterdays attempted smash the Sellers of Silver continue on suiciding themselves by adding more shorts and refusing to get out while the prices move higher with the Overall Count now at 216,370 Overnighters after another 2,079 more shorts entered the trade in order to stay the price. Good luck with that!   



Posted at 10:27 AM (CST) by & filed under

June 5, 2019

By Greg Hunter’s

Precious metals analyst and financial writer David Morgan says we are very close to a bottom in silver. Morgan contends, “I am biased, but objectively, there is no cheaper hard asset out there than silver. I mean it is so undervalued. It’s unwanted, it’s unloved, it’s misunderstood and there are very few people who want to get into this market at these lows. I found that true when I started the website.”

Back then, in the early 2000’s, Morgan was calling a bottom in silver, and he was proven correct. Back then, Morgan pointed out, “I said inflation adjusted, silver was the lowest in all recorded history. I said if you want to be a value investor like Warren Buffett, and if you want something that is cheap and you want something at the bottom, well, here’s the bottom. . . . Hardly anyone would do it. I wrote an article back then about how people don’t buy bottoms. They want to, but people buy momentum. . . . People want to jump on the train when it’s already moving. . . . Gold has gone from $1,045 (in 2015) to $1,300 . . . I think there is enough momentum on gold to bring silver up from this level. I do think the bottom is in or close to being in.”

So, precious metals won’t go much lower but are going much, much higher in price. Morgan explains, “If we see the equity market start to fall off in a major correction, I’m talking more than 20%, I think you will see a run to gold and a confirmation in the silver market. In my analysis, I’d say we are on our way up to the largest move in the precious metals market I have probably ever seen in my lifetime. . . . There will be a run into gold because the bond market is really not a safe haven as it is touted to be. How safe is something that there is $43 trillion ($22 trillion official federal debt and $21 trillion ‘missing’) in debt that cannot be repaid in any way, shape or form? You’re going to pay it off in dollars, and you will just print the money up and you will have it worth less, and worth less, and worth less, and then it’s worthless. Or, you are going to have to see these bonds default where you are going to get 60 cents on the dollar, or 50 cents on the dollar or 20 cents on the dollar. That’s more unlikely. The most likely case is that they will just print their way out of it, which means you are defaulting on the currency itself. Once that psychology hits the market, there will be a run to gold that will be unbelievable. There will be no place else to go.”


Posted at 11:52 AM (CST) by & filed under In The News.

J.Johnson’s Latest – Silver’s Overall Open Interest Points the Way of the Criminals
June 4, 2019

Good Tuesday Morning Folks,   

      Gold is higher again in the early morning but way off its high at $1,334.10 with the trade right now at $1,329.60 up $1.70 with the low at $1,326.60. Silver started giving its sell-signal during yesterday’s Asian trading period with the price now at $14.705, down 3.5 cents after reaching a high of $14.805 before the signal was applied with the low right close to the now at $14.695. The US Dollar took a late hit during yesterday’s trade with the value now pegged at 97.030, down 3 points after reaching as low as 96.90 with the high at 97.185. All of this was done while we sleep, with President Trump MAGA-ing in London, and before the Comex Open.    

      Venezuela’s Bolivar, the first emerging market currency to go nuts, now has Gold priced at 13,279.38, gaining another 73.91 Bolivar overnight with Silver now at 146.866 giving back some .799 of Bolivar value. Argentina, the second emerging market currency to go sharply lower and before some zeros get knocked off, now has Gold pegged at 59,658.90 adding another 465.29 Pesos since yesterday’s count with Silver at 659.845 taking back 2.066 A-Pesos of value from yesterday’s massive move. The Turkish Lira now has Gold pegged at 7,720.94, a loss of 50.72 from yesterday’s gains with Silver losing 1.6292 overnight with the going price now at 85.3938 T-Lira.    

      Yesterday’s mornings count for June Silver deliveries had a 50 marked up on the board and with zero Volume. I did not see any trades in size being applied at all during yesterday’s rally, in fact, the Volume was only at 2 most of the day but now the Open Interest in June Silver stands at 5 contracts with a Volume of 1 up on the board so far this morning proving a delivery of (ironically) 45 contracts either here or somewhere between here and the City of London. Silver’s Overall Open Interest points the way of the criminals with the count adding some 4,029 more shorts during yesterday’s trade. Imo, this is the last line of defense for the central planners and now the tally shows a total of 214,291 Overnighters helping to stay the price all the while someone is taking the physicals.  


Bill Holter’s Commentary

A truly mentally whacked world…does this mean The Olympics are cancelled?

Dodgeball Is “An Unethical Tool Of Oppression”, Say Academics
June 4, 2019

Authored by Sofia Carbone via,

The left’s most recent addition to the list of things they find oppressive is: dodgeball.

Yes, the game you played in gym class when you were twelve.

The National Post released an article earlier today by Joseph Brean explaining how “dodgeball isn’t just an unethical tool, it’s a form of oppression.”

This week, three education theorists will present the premise that dodgeball is “miseducative” and teaches athletic privilege to the Canadian Society for the Study of Education at the Congress of the Humanities and Social Sciences in Vancouver, Canada.

The presentation argues that physical education is supposed to empower children via ‘democratic practices’, and dodgeball’s underlying message of athletic hierarchy and reinforcement of oppression undermines this.

Although dodgeball is the focus of the left for the time being, Brean points out fault in many childhood games, proving them to be similarly problematic. He describes capture the flag as ‘militaristic’ and says tag “singles out one poor participant, often the slowest child, as the dehumanized ‘It,’ who runs vainly in pursuit of the quicker ones.”


Posted at 9:25 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Nothing to see here even if the charts come from the St. Louis Fed themselves?













J. Johnson’s Latest – We Have a Wonderful Weekend of Positive Price Recovery!
June 3, 2019

Great and Wonderful Monday Morning Folks,   

      We start the week off with a higher price in Gold with the trade at $1,322.20, up $11.10 and right beside the high at $1,323.30 with the low at $1,310.90. Silver is up as well with its price at $14.785, up 13.9 cents and right beside its high at $14.79 with the low at $14.64. The US Dollar is trading lower with its value pegged at 97.56, down 10.6 points after dipping to 97.495 before the recovery with the high at 97.72. All of this was done way before 5 am pst, the Comex Open, and the London close.    

      The Venezuelan Bolivar now has Gold priced at 13,205.47, regaining 200.75 Bolivar with Silver now valued at 147.665 regaining 2.996 Bolivar. Gold priced under the Argentine Peso is now trading at 59,193.61, regaining a whopping 1,174.74 A-Pesos in value with Silver whopping out a 16.545 A-Peso gain at 661.911 Pesos. Turkey’s Lira now has Gold priced at 7,771.66 regaining 145.06 Lira with Silver now priced at 87.0230 regaining 2.2006 T-Lira, all in a wonderful weekend of positive price recovery, that is, in the emerging markets for now, soon it to will be hitting the primaries and much harder. Remember Gold contracts are 100 troy ounces, Silver has 5,000 in its contract.   

      June Silver’s Delivery system is in full swing with the demands for physical now at 50 contracts and with Zero Volume up on the board so far this morning. This is a drop of some 203 demands for physical with Harvey’s numbers showing 45 of these orders being delivered receipts so far. Silver’s Overall Open Interest is still showing elevated numbers which IS the only play left the central planners have to control the prices. The reduction is a little more than 1% as we are forced to wait for more data that should be “live” but instead is “delayed” with the Overall Count now at 210,262 Overnighters, losing only 2,589 obligations during Friday’s 12 cent gain. With the Longs sticking to their positions since the Trump presidential win, things should really start to turn higher, especially since we have our 45 in London, asking questions, including Julian Assange’s health, since he (supposedly) won’t be charged over the CIA leak.