Posted at 2:37 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Shocking I say, just SHOCKING!

‘Defund the Police’ Activists Complain Cops Aren’t Protecting Them Enough
December 13, 2020

Black Lives Matter DC activists complained on Sunday that the Metropolitan Police Department (MPD) failed to protect them while continuing to call for defunding police. The apparently conflicting statements came during a press conference held in Black Lives Matter Plaza Sunday afternoon.

Black Lives Matter DC Anthony Lorenzo Green said during the Sunday press conference that the mayor and police department failed “to protect the rights of D.C. residents” during the Stop the Steal Trump rally held in the nation’s capital on Saturday. ”



Posted at 8:35 AM (CST) by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

       February Gold is down $14.80 with the last quote at $1,828.80 after hitting the low of London at $1,820 with the high to beat at $1,845.60. I had to hit the side of my screen this morning because Silver is only down 14.2 cents (I thought the price got stuck) with its trade at $23.95, recovering from its low at $23.755 with the high at $24.175. This is one of a few times for me to see Silver not leading the beatings. Today is the start of our Triple Witch Week, with all currencies expiring at high noon (except the Loonie), with our US Dollar down 44.5 points and at the low of 90.525, with the high at 90.900 so far today. It also seems apparent that the agreed upon trades over the past 3 days are over. Of course, all this happened before 5am pst, the Comex open, the London close, and after the world’s 4th largest shipping line, suspends its cargos bound for South China Ports in early 2021, could it be a problem with international sales after a plandemic?

      Gold under the Venezuelan Bolivar is now priced at 18,265.14 showing a 57.93 Bolivar pullback with Silver’s last price at 239.201 Bolivar, gaining 0.50 since Friday mornings write up. Gold in Argentina is now priced at 150,238.78 A-Peso’s proving a reduction of 270.60 with Silver’s price at 1,967.53, popping in a gain of 6.56 A-Peso’s. Over in Turkey, where the currency is called the Lira, Gold’s last price is at 14,389.63, showing an 87.76 T-Lira loss with Silver’s last buy at 188.444 T-Lira, registering a 0.158 loss. Once again, Silver has strength even in the emerging (short for “already exploded”) currency markets.

      December Silver Deliveries now has a demand count of 1,026 fully paid for 5,000-ounce contracts waiting for receipts and with a Volume of 22 up on the board and with no price posted so far. Friday’s full Ice/Comex trading period happened in between $24.05 and $23.955 with 44 contracts trading hands with the last buy at the high, a gain of 1.9 cents and as Comex settled the day out at $24.032, adding only 0.001 pennies, which just so happen to raise the demand count, by 11 contracts. Silver’s Overall Open Interest shows the shorts had to add 588 more pieces of liquidity in order to control the futures prices bringing the total count to 154,904 Overnighters.

      December Gold’s Delivery Demands now has a post of 6,322 fully paid for contracts and with a Volume of 40 already up on the board with a trading range between $1,835.70 and $1,824.70 with the last sell at the low, down $15.10 so far today. Friday’s full day of play happened in between $1,846 and $1,829.10 with the last swap at $1,839.10, a gain of $5.50 with the Comex close, a little higher at $1,839.80, up $6.20 that had a total of 90 contracts being swapped helping to reduce the demand count by 1,382 contracts that, at the very least, got paper receipts. Gold’s Overall Open Interest continues to see the shorts getting out of the way, as 3,228 paper contracts left the field of play, leaving 546,387 contracts to go against the physicals.

      This week promises to be something else as we roll out of all December contracts and into next year’s play. Then this Friday, the Director of National Intelligence, is required to submit his report providing evidence, of foreign nations intentionally influencing our presidential election process. Remember the other communist nation besides China back in 2016? This is Executive Order 13848, which was signed into law back in Sept 2018, because of the frauds witnessed during the midterm. And it has penalties too, as this order “follows the money” with the Treasury Dept involvement too.

      One fine example of foreign fraud is the Dominion Voting Systems, which is based in Canada; “Founded in 2003, Dominion Voting Systems is a leading supplier of election technology across the U.S., Canada and globally.” Many successful elections have been won thru Dominion’s dominance as Venezuela, Argentina, and various other nations, have proven, the highest bidder always wins over the most voted for in any nation, with the help of the back door access, thru the internet. What can go wrong here, with so many, trusting a foreign company, with our sacred electoral process?

        So, keep it real and hang on tight. As always …

Stay Strong!

Jeremiah Johnson

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

Posted at 5:49 PM (CST) by & filed under

By Greg Hunter’s (Saturday Night Post)

Analyst, professional trader and financial writer Rick Ackerman says don’t expect the trillions of dollars of borrowed money given away in government stimulus to save the economy. It will not. Ackerman explains, “For every dollar of debt we create, we only get 33 cents of growth. . . . The stimulus is having less and less of an effect, and because it has less of an effect, it stimulates the stimulators to do even more stimulating, which essentially means more borrowing. So, that’s what’s called a debt trap, and we are very much in it. . . . There is no question you get a shot in the arm on the consumer spending side and also with asset inflation with the real estate market and stock market. Don’t kid yourself, you are not creating sustainable growth to pay off that borrowing. We are not going to grow our way out of this.”


Posted at 5:48 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Some somber Erik for you.

Changing the National Anthem to Forty Miles of Bad Road_001

Changing the National Anthem to Forty Miles of Bad Road_002

Bill Holter’s Commentary

This deserves some discussion on this week’s recorded call.

Mission Creep Or Creepy Mission: The New York Fed’s Trading Desk Has Ballooned To $6.59 Trillion Today From $576 Billion In 2008
December 11, 2020

Trader on the Open Markets Trading Desk at the Federal Reserve Bank of New York

Few Americans are aware that the central bank of the United States, the Federal Reserve, has its own trading desk in New York that interacts every business day with the trading desks of the giant Wall Street banks. When Americans think of massive trading operations, names like JPMorgan, Goldman Sachs, Morgan Stanley, UBS and Citigroup come to mind. But if we measure trading desks by the value of their portfolio holdings, these global banks are pikers compared to the Fed’s trading desk, operated by one of its 12 private regional banks, the Federal Reserve Bank of New York (New York Fed).

Using the New York Fed’s own annual reports to obtain the data, we can report that the New York Fed’s Trading Desk has grown from $576 billion in holdings of domestic securities as of December 31, 2008 (at the peak of the last financial crisis) to $6.59 trillion as of December 9, 2020. And according to the New York Fed’s most recent financial statement, its Trading Desk’s domestic securities holdings have spiked by $15.9 billion in just the past week.


Bill Holter’s Commentary

A plan in the works since 1971?

China Is Laying The Foundation For The Next World Gold Standard System
May 5, 2016

On April 19, the Shanghai Gold Fix officially began. The pricing mechanism is intended to be a replacement for the London Gold Fix, the primary price-discovery mechanism for gold bullion today. The London “bullion” market is not a market in bullion. Rather, it is a market in “unallocated” gold, defined as an unsecured liability of banks.

In short, it looks suspiciously like an exercise in paper-hanging. The London Bullion Market Association claimed 21.95 million ounces of “net” clearing per day on average in 2013, worth about $27 billion. Estimates of “gross” trading are considerably higher than this. Supposedly, one might be able to call in these unsecured liabilities of banks, and receive real bullion. However, when people actually try this, banks have a pattern of shunting clients into cash settlement.

The Shanghai Exchange appears to be a real market in bullion, with immediate physical delivery on every contract. Curiously, the opening of the Shanghai gold fix coincided with a dramatic admission by Deutschebank that it had been rigging the London gold and silver markets, accompanied by promises that it would help authorities identify other market manipulators.

Many have considered the phony “paper gold” markets, including the U.S. Comex futures market and also, potentially, gold ETFs, to be a significant impediment to using gold as a standard of currency value. Is China laying the framework for a new world gold standard system? One Chinese analyst called it “the culmination of a two-year plan to move away from a U.S.-centric monetary system.”


Bill Holter’s Commentary

Please read this one carefully. Global sovereign debt is now 99.3% of GDP while investors clamor into this debt with negative yields? Understand that too much debt is the problem and the world “saves” in the currencies issued by these insolvent sovereigns. On the other hand, gold and silver have zero liability which means they can never default in a world headed toward collective default…

2020 Is Ending With 93% Of Global Economies Contracting…And With Markets At All Time Highs
December 12, 2020

As BofA’s European credit strategist, Barnaby Martin, puts it in one of the final issues of his European Credit Strategist report for the year, “2020 is ending with one of the most predictable and potent themes of the last decade: central bank activism.”

Case in point: on Thursday the ECB doubled down on more of the same as it delivered more PEPP, longer PEPP, further reinvestments and an extension of favourable TLTRO conditions. According to Martin, “while not as novel as some of the ECB meetings gone by, the aim of Thursday’s package was to maintain “favorable” funding conditions across all markets (to ensure the swift return of business and consumer confidence).” For those who missed it, this is what the ECB did, to quote Martin:

Lagarde gave bond markets another dose of PEPP: a €500bn increase in the envelope and an extension of buying until March 2022. Thus, big QE will still be with markets for some time.

But as this week’s PEPP disclosure shows, the programme is now almost exclusively about buying government debt (Chart 13). Instead, weekly APP has become more relevant for gauging the pulse of ECB corporate bond buying (Chart 14). Notice how the share of corporate bond buying has been rising here.