Posted at 11:35 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

In our talk on Saturday I quoted statistics on Corona virus. This is the source I use the most for up to date information…

Dave

Worldometer is run by an international team of developers, researchers, and volunteers with the goal of making world statistics available in a thought-provoking and time relevant format to a wide audience around the world. Worldometer is owned by Dadax, an independent company. We have no political, governmental, or corporate affiliation.

Trusted Authority

Worldometer was voted as one of the best free reference websites by the American Library Association (ALA), the oldest and largest library association in the world.

We have licensed our counters at the United Nations Conference on Sustainable Development (Rio+20), to BBC News, and to the U2 concert, among others.

Worldometer is cited as a source in over 3500 published books, in more than 2000 professional journal articles, and in over 1000 Wikipedia pages.

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Posted at 10:17 AM (CST) by & filed under General Editorial.

This is a public article, the majority of my work is now posted for JSMineset subscribers.

Great and Wonderful Monday Morning Folks,

      A violent reversal has occurred in Gold with Sunday’s 3pm pst opening price for April Gold at $1,592.80 up $26.10 then raced to $1,612.10 (the high so far) with the right now price at $1,597.10 with the low at $1,576.30. The Red Headed Step Child – Silver is still taking the beatings (and is getting stronger because of it) with its opening price at $16.50, up only 11.3 cents from Friday’s closing price with the rally sending it to $17.06 before they settled it down with the low at $16.445 and the right now price at $16.80 up 33.7 cents. The US Dollar is finally losing some altitude with the trade at 97.605, down 47.6 points and recovering from the low of 97.460 with the high at 98.045. Of course, all this happened already, while we slept, before 5 am pst, the Comex open, the London close, and after 2 days of spike trades occurring in all US treasuries.

      Gold’s price under the Venezuelan Bolivar is still being sent lower with the trade at 15,951.04 Bolivar showing a loss of 239.70 over the weekend with Silver at 167.790 Bolivar, taking away another 3.396 in value. Argentina’s Peso has Gold’s value pegged at 99,227.88 showing a reduction of 1,365.08 Peso’s with Silver at 1,043.70 Peso’s as the currency took away another 19.90 A-Pesos off of Friday’s price. The Turkish Lira’s price for Gold now sits at 9,954.15 showing a 123.57 T-Lira takeaway from Friday with Silver also losing 1.85 T-Lira with today’s price pegged at 104.710. With the emerging markets still sinking the precious metals, one may wonder if we’re finally going to see the primary currencies rally the precious metals now like they did under these 3 currencies a few years ago? The “Sit tight and be right” mindset may all of a sudden have a much bigger meaning under the US Dollar.

      March Silver’s Delivery Count now sits at 1,104 fully paid for 5,000-ounce contracts waiting for receipts and with the Volume at 305 up on the board with a trading range between $16.975 and $16.390 with the last price at $16.74. Our starting count for the month in deliveries totals 5,520,000 Ounces of Silver standing the chance of being removed somewhere in between the real and the fake (real honest to God Comex take-out at the delivery window or the EFP’s going to London). Silver’s Overall Open Interest fell by 17,329 Overnighters from Friday mornings quote with the count now at 201,349 Obligations showing a huge removal as we witnessed a panic during last week’s beatings. The loss in Silver’s Open Interest count from Tuesday’s Option Expiration Day to Friday’s tally was 44,729 Overnighters, one of the biggest drops I’ve witnessed in a very short period of time.

      March Gold’s Delivery Count stands at 252 fully paid for 100 Ounce Contracts and with a Volume of 431 up on the board this morning with a trading range between $1,608.30 and $1,574.30 with the last Buy/Sell 5-lot at $1,601.00. Gold’s Overall Open Interest is now calculated at 701,001 Overnighters proving a reduction of 28,812 Obligations leaving the impression that only the Longs excited both precious metals on Friday. Btw, “leaving the impression” has many meanings and not necessarily just a “Long” exit. Keeping Watch!

The Organization for Economic Co-operation and Development has sounded its alarm of concern after the US Treasuries started reversing slowly at first, then all of a sudden (Friday and today) as the Chinese import/export calamity starts to affect the global growth of the world’s economies. Then Goldman Sachs makes its statement claiming the possibility of 2 rate cuts in the next 2 weeks, with the expectations that a “coordinated” central bankers print-a-palooza may have to happen in order to keep things steady (but for who?).

      We’ve prepared to stay in place, hopefully you are too. That also means staying in our positions as well even though last weeks fight against the price proved even more so that the manipulations are real and are failing. The outcome of all of this will be a real price discovery in all things under fiat. So, keep the attitudes positive no matter what, have a smile on your face and a prayer in your heart, and as always …

Stay Strong!

J. Johnson

Posted at 9:51 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Real time updates on coronavirus.

Real-Time Update On Coronavirus Outbreak

Source:Global Times Published: 2020/1/22 21:15:00 Last Updated: 2020/3/1 20:33:06

302

8:32 pm Mar 1

South Korean officials said that a number of members of Shincheongji Church, causing over 1,500 COVID-19 cases in S. Korea, visited Wuhan in January. The authorities will try to find out how many had been to the central Chinese city, epicenter of the virus.

7:36 pm Mar 1

Iran has reported 385 new COVID-19 cases on Sunday, making the Middle East country’s total infected cases to 978. Among them, 54 died.

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Posted at 9:49 AM (CST) by & filed under USAWatchdog.com.

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

Financial writer and precious metals expert Bill Holter says forget about the relatively small sell-off in the gold and silver markets. The big worry shaking the markets is an enormous global credit problem. Holter explains, “Your protection about the credit market coming down is asset money, if you want to call it that. Gold and silver have no liability. They are not issued by a central bank, and there is no promise that has to be kept for it to perform. . . . Dollars, euros, bonds or what have you, those are all liabilities of a central bank or sovereign treasury. They all carry liability, and that’s what the problem is in today’s world. It’s a world completely awash in liability. . . . I think, ultimately, you are going to see a credit meltdown.”

Holter points out the U.S. government “Plunge Protection Team” is not only trying to prop up the stock market, but also is suppressing gold and silver prices. Holter says, “Friday’s hit in the gold market (down $60 per ounce) is obviously an ‘official’ movement because they don’t want people getting the idea that your safe haven is physical gold and silver. In other words, they tried to steer investment away from gold and silver by smashing it with paper contracts.”

Holter, who has two decades of brokerage and equity experience, also points out, “This coming week and the weeks going forward, I am sure there are all kinds of margin calls that will be forced selling. . . . So, this thing could become a self-perpetuating spiral (down).”

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Posted at 2:50 PM (CST) by & filed under Jim's Mailbox.

Coronavirus Survival Kit

coronavirus survival kit

Jim

Friday Musings…

This week a number forces combined to give pause to economic outlook as it relates to value and opportunity, and desirability.

Over $ 5 trillion was wiped out in stock market declines missing no one’s portfolio, or holdings. And COVID-19 continued its’ global march affecting countries like Iran and Italy with many reported cases causing much angst; while China struggles with its’ impact, effectively offline as the world’s workshop. Causing many companies to issue warnings about supply chain disruptions and profit warnings. What also became clear this week is that global credit expansion is actually declining. While at the same time global output is in decline as evidenced in reports of continued lackluster car sales and declines in everything from oil consumption to meat to soybeans. This is reflected in the lower prices that have declined all week. We have also seen meaningful action taken by the “bug out crowd” who hope to escape the passing storm.

One thinks that this has all makings of a rogue wave. It is well canvassed that the world was short on liquidity last year. The fall in China output will place them in negative growth for a period, not yet known. However, with car sales down some 90% and many businesses running short of capital liquidity the outcome is clear. China will need to bailout not just many of their banks but whole industry segments. The question is with what capital? Printing money to prop industry in a world not consuming is a recipe for failure. Many loans China has made globally will fall short on payment. And the human impact on China is not really known and it will take several more weeks before a truthful picture emerges. And there are many theories out there as to the hastened impact of 5G on the virus spread. The truth will come out on this theory over time. What is clear is 5G from Huawei will be banned in the US shortly.

When you couple this with global angst over the virus, people become worried and tend to tighten their spending behavior and already it is quite clear that typical social norms are changing. Just go to any Chinatown anywhere to find a lack of people. Spending will be redirected, perhaps to paying down debt as optimism declines. Now add to this supply chain disruptions which will manifest in lowered employment, another decline in spending is introduced. People not working or sick do not spend.

This the lack of liquidity combines with lessened demand and credit creation, human angst over the virus, and lower asset values to create a situation whereby confidence is lacking not just in consumers but in bank lending who see their own woes of liquidity to corporations who question their businesses and in some cases their survival through difficult times as declining sales, regardless of why, lower both values and expectations.

This combined rogue wave of a lack of confidence has come together this week to affect everything and everyone. We should expect and will experience more volatility in the coming weeks as the combined impact takes hold. And phrases like “no bid” will become more common as what we will see in days ahead will make 2008 feel like a walk in the park.

Buckle up!

Cheers

Robert

Posted at 12:25 PM (CST) by & filed under Bill Holter.

We have been telling you it is all about credit for years…you will soon see the real world reasons why. It is clear the real global economy was already seriously slowing down in Q4 prior to the coronavirus outbreak. Now, China who has been the supplier to the world and the great hope to be the engine of growth to pull the world forward, is all but frozen up.

Within a very short period of time, we will begin to see more and more real world examples of products not being produced which affects downstream ability to get final products to market. The latest example of this is the Audi electric vehicle plant “pausing” production because they cannot procure batteries. Just watch how many other various products cannot and will not be produced in the coming weeks…and remember, businesses have both accounts receivable and accounts payable, not to mention boatloads of DEBT!

As for the coronavirus, all one must do is take a look at the travel and leisure industry. Airlines, resorts, etc., not to mention restaurants and other ancillary businesses have already reported severe drops in traffic, some as much as 30-40%. All of these have both accounts receivable, accounts payable, and debt. Can the industry survive with lower traffic flow? Can the industry survive if even one part of the chain breaks?

Please understand the entire global financial AND real economic systems only function as long as cash flows function. Lack of parts or product means no final sale which means the entire supply chain chokes because the final product is not monetized. This is where accounts payable and receivable come in. How does a business pay another business if they are not being paid? Or how do they pay their bank debt with less or no cash flow? This episode already looks like a chain breaker in not one but several links!

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Posted at 11:29 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

As we tried to relay to subscribers earlier today. “It is ALL about credit”! You will understand this shortly…

Coronavirus Paralyzes Global Credit Market As New Issuance Crashes To Zero

February 26, 2020

In the early days, when virtually nobody paid attention to the coronavirus pandemic which China was doing everything in its power to cover up, markets were not only predictably ignoring the potential global plague – after all central banks can always print more money, or is that antibodies – but until last week, were hitting all time highs. All that changed when it became apparent that for all its data manipulation, China was simply unable to reboot its economy as hundreds of millions of workers refused to believe the government had the viral plague under control, starting a potentially catastrophic 2,3 month countdown to millions of small and medium Chinese businesses going bankrupt, resulting not only in untold devastation in the world’s 2nd largest economy but paralyzing and crippling supply chains across the world. Worse, it also triggered the biggest equity selloff in years.

And now, the coronavirus pandemic is about to leave yet another market in critical condition as the global credit machine is grinding to a halt.

As Bloomberg points out, the $2.6 trillion international bond market, where the world’s biggest companies raise money to fund everything from acquisitions to factory upgrades, came to a virtual standstill as the coronavirus spreads panic across company boardrooms.

While hardly a surprise with US equity markets suffering one of their worst selloffs since the great depression, Wall Street banks recorded their third straight day without any high-grade bond offerings, an unheard of event – especially in this day and age of ravenous yield apetite – outside of holiday and seasonal slowdowns. Across the Atlantic, European debt bankers had their first day of 2020 without a deal on Wednesday. And bond issuance in Asia, where the virus first emerged, has also slowed to a trickle.

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Bill Holter’s Commentary

GATA has been all over this since 1999. they are correct!

How Gold Is Manipulated
February 25, 2020

Is there gold price manipulation going on? Absolutely. There’s no question about it. That’s not just an opinion.

There is hard statistical evidence to make the case, in addition to anecdotal evidence and forensic evidence. The evidence is very clear, in fact.

I’ve spoken to members of Congress. I’ve spoken to people in the intelligence community, in the defense community, very senior people at the IMF. I don’t believe in making strong claims without strong evidence, and the evidence is all there.

I spoke to a PhD statistician who works for one of the biggest hedge funds in the world. I can’t mention the fund’s name but it’s a household name. You’ve probably heard of it. He looked at COMEX (the primary market for gold) opening prices and COMEX closing prices for a 10-year period.

He was dumbfounded.

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Posted at 9:59 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Wayne Jett is an accomplished lawyer who has argued cases in front of the U.S. Supreme Court. Jett is also an expert on the Federal Reserve and says all the signs he sees say we are nearing the end of the line for the debt based monetary system. Jett explains, “We are at the end stage of the fiat currency disease, which means they always go to zero. It’s just a matter of how long can they extend it in terms of the way they are able to acquire more hard assets with their worthless currency before it goes to zero for the rest of us. . . . I believe the Trump Administration is on the course towards turning to sound currency, meaning an end to the Fed and meaning something in return to something like a gold standard. My view is the gold standard – period. In that circumstance is how do we get there with the least disturbance in our economy and the wellbeing of our people? We’re going to try to get through 2020 and the election without having to make that change. . . It involves a great deal of displacement in terms of financial capabilities of the population, provision of necessary services, food and accommodations. It is very disruptive. I think the President wants to have a gold standard and a new currency in a ready position. We need to have our current account balance, meaning the amount of goods we buy from abroad should be roughly equal to the amount of goods we sell abroad. We have made great progress on that.”

Jett says the China virus crisis is not a coincidence. Jett thinks that it is happening now because the Deep State is hitting the global economy and Donald Trump in an election year to stop him from winning a second term.  Jett explains, “I am quite convinced of it. I think, most likely, there was some communication behind the scenes at some level indicating either you stop these investigations and prosecutions that you are planning . . . or we are going to do this. They got a ‘NO’ on that, and so the so-called virus has been released. . . . The story is China has done this to the world, and I don’t think that is the case because the virus has shut down their economy, and that is the last thing they want to do. Why would they do this to themselves?”

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