Posted at 12:22 PM (CST) by & filed under In The News.

The Demands Remain the Game…
May 23, 2019

  Great and Wonderful Thursday Morning Folks,   

      Gold is up again with the trade at $1,276.80, a gain of $2.60 and right close to the London high at $1,277.50 with the low at $1,272.10. Silver is tagging along with its trade barely up 2.1 cents at $14.47 with its high at $14.48 and the low at $14.40. The US Dollar finally broke thru the upside resistance with its value pegged at 98.07, up 18.9 points after reaching up to 98.14 before settling down a bit with the low at 97.94. Of course all this non-activity already happened before 5 am pst, the Comex Open, the London close and, “May”be before a prime minister is forced out of office.     

      The Venezuelan Bolivar now has Gold priced at 12,752.04, gaining back another 15.98 Bolivar with Silver only able to scratch back .20 of a Bolivar so far today with its price at 144.519 Bolivar. Argentina’s Peso now has Gold valued at 57,278.67, a regain of 166.23 A-Pesos within a 24 hour period with Silver pegged at 649.262 almost gaining back all of yesterday’s pullback as the climb equaled 2.176 A-Pesos. Then we have Turkey’s little fireside fiat sale putting Gold’s price at 7,832.36 showing an increase of 41.90 T-Lira with Silver gaining .5055 as well with Ag’s value at 88.7754 T-Lira.

      The May Deliveries for Ag seem to be gaining some more drama as the demands for physical increased with the count adding 32 more buy orders putting the requests for physicals at 257 and with Zero Volume up on the board so far this morning. During yesterday’s Comex trading coma we witnessed May Silver’s trading prices widen a bit after the early morning report, but more importantly was the Volume which exceeded a 150 count inside an 8 cent window. Whether these purchases are another batch of EFP’s to London, a real delivery request, or another paper trade exiting out, cannot be answered until Comex pulls its head out and gives the majority of traders the information. Regardless, the demands remain the game, and this is where it all begins and ends. The Overall Open Interest for Silver continues to climb with the count now at 210,970 showing a gain of 116 more shorts to stay the “Delivery” price for now.    


Jim Sinclair’s Commentary

The latest from John Williams’

– Economic Downturn Continued into Second-Quarter 2019; Faltering April Freight Volume Presaged Declines in Production and Retail Sales
– April Manufacturing Turned Negative Year-to-Year for First Time Since 2015, When Freight Volume Also Turned Negative, Signaling the Onset of an Unofficial Double-Dip Recession in Production and Manufacturing
– Production and Manufacturing Suffered Heavy Downside Revisions Along With Unexpected Sharp Declines in April Activity
– April Single-Unit Building Permits Signaled an Unexpected Deepening Downturn
– April Existing-Home Sales Declined Month-to-Month and Year-to Year
– Fourth-Quarter 2018 and First-Quarter 2019 Quarterly Contractions in Real Retail Sales Held in Place, Along With an Unexpected, Sharp April Decline
– Shutdown-Disrupted Retail Sales Data Remain of Suspect Quality
– Latest Round of Economic Data Implied Downside Revisions to First-Quarter 2019 GDP, With an Intensifying Second-Quarter Downturn
– Surging Consumer Optimism Tends to Mirror the Tone of the Popular Press
– Market Sentiment Should Continue Shifting Towards Renewed Fed Easing

“Bullet Edition No. 10”

Jim Sinclair’s Commentary

First Ford had stopped making all but two cars, but kept its truck line, etc. Now Ford is slashing 7k jobs. Ford is getting ready. Ford is the only auto manufacturer who didn’t take the last bail out. Ford is planning to stay alive while others do not.

Ford Slashes 7,000 Jobs as Sweeping Disruption Hits Automakers
May 20, 2019

Ford Motor Co. plans to eliminate about 7,000 salaried jobs — about 10% of its global white-collar workforce — as pressures mount on automakers to keep pace with massive technological shifts amid signs global car demand has peaked.

Eliminating the positions will save Ford about $600 million a year, Chief Executive Officer Jim Hackett wrote in a memo to employees Monday, seven months after the company informed employees of a salaried workforce “redesign.” The majority of the cuts will be completed by May 24 in North America, and by the end of August in markets including Europe, China and South America.

“To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work, and cut costs,” Hackett wrote. “Ford is a family company and saying goodbye to colleagues is difficult and emotional.”


Posted at 2:14 PM (CST) by & filed under In The News.

That Must be the Best Duct Tape in the World Holding it All Together
May 22, 2019

Great and Wonderful Wednesday Morning Folks,   

      Gold is trading at $1,275.20, up $2 inside another tight trading range between the high at $1,276.30 and the low at $1,272. Silver is leading the mini-charge with its trade at $14.45, up 4 cents inside its own tight range between $14.455 and $14.37. The US Dollar is also stuck in between a bunch of non-volatility with its trade at 97.84, down 5.6 points after reaching as high of 97.97 before the buyers stopped with the low down at 97.81. All of this non-activity happened while we sleep, before 5 am pst, and the London close.   

      Our emerging markets gold for currency swap shows that Venezuela’s price for Gold is now at 12,736.06 Bolivar, regaining 31.96 in value with Silver recovering .898 with its current price at 144.319 Bolivar. Argentina, which lead the charge yesterday, now has the Peso/Gold swap valued at 57,112.44 losing 362.54 Pesos with Silver losing 2.425 A-Pesos with its price at 647.086. Our new addition, the Turkish Lira now has Gold priced at 7,790.46, a gain of 85.59 Lira with Silver now pegged at 88.2699, gaining 1.1964 Lira overnight. We see the level waters of the primary currencies unmoved, but those tributaries leading to the primaries are sure stirred up. We still expect one (if not all) of the primary currencies within the Dollar’s currency basket to go volatile. The problem we have is almost all of them (currencies within the basket) have serious issues within the central bank manipulations schemes, with any or all of their concerns, possibly sending the precious metals into the stratosphere pricewise, we simply don’t know which one goes first, or if that even really matters anymore.    

      Our May Silver deliveries carry on with the demand for physicals now at 225, dropping only 2 contracts into the delivered bin and with a Volume of 49 up on the board so far this morning with a price range between $14.40 and 14.39 (this is the real SPOT price, not Kitco’s). This is a super tight buyer/seller agreement and the antipodal of last week’s story, (is someone “not on our side” reading this too?). The big trading point is our Open Interest within Silver’s overall numbers with the count continuing to gain as another 367 more shorts got added to the fray proving the count at 210,854 Overnighters “staying” the trade (keeping prices steady). Our point being, the buyers, who are continually being punished for thinking Silver should be higher in value, are refusing to exit their positions as the shorts keep adding. Normally the buyers would cave by exiting their trade, bleeding and wounded. This may be another attempt at scaring the trade lower, but it could also mean the shorts are against the ropes. Only the deliveries will matter in this game, and when the shorts can’t deliver … Boom!!     


Posted at 2:07 PM (CST) by & filed under Jim's Mailbox.

Right you are Wolfgang!



Words from the past come back to remind us of our rights….lest we forget.

The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government – lest it come to dominate our lives and interests.”
-Patrck Henry

When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”

-Thomas Jefferson

Who is restraining who in today’s world?

Who fears who in today’s world?

CIGA Wolfgang Rech

France Threatens Journalists With Jail Time For Exposing Government Lies About Yemen
May 22, 2019

Via Middle East Eye,

France has threatened three French journalists with potential jail time for using secret documents to reveal the country’s involvement in the Yemen civil war.

In a series of reports published in April, investigative journalists from Disclose and Radio France revealed the number of French arms sold to Saudi Arabia and the United Arab Emirates.

The documents, authored by France’s Directorate of Military Intelligence (DSGI), showed that senior French officials had lied about the role of French weapons in the Yemen War.

Following the publication of the reports in April, Disclose’s co-founders Geoffrey Livolsi and Mathias Destal and Radio France journalist Benoît Collombat were asked to attend a hearing at the DSGI headquarters in Paris.

The three journalists refused to reveal their sources after being questioned by the DSGI on the origin of the document, their work and posts on Facebook and Twitter.




This is dove tails with Wolfgang’s post.


Vicious Cycle: The Pentagon Creates Tech Giants and Then Buys their Services
May 22, 2019


The US Department of Defense’s bloated budget, along with CIA venture capital, helped to create tech giants, including Amazon, Apple, Facebook, Google and PayPal. The government then contracts those companies to help its military and intelligence operations. In doing so, it makes the tech giants even bigger.

In recent years, the traditional banking, energy and industrial Fortune 500 companies have been losing ground to tech giants like Apple and Facebook. But the technology on which they rely emerged from the taxpayer-funded research and development of bygone decades. The internet started as ARPANET, an invention of Honeywell-Raytheon working under a Department of Defense (DoD) contract. The same satellites that enable modern internet communications also enable US jets to bomb their enemies, as does the GPS that enables online retailers to deliver products with pinpoint accuracy. Apple’s touchscreen technology originated as a US Air Force tool. The same drones that record breath-taking video are modified versions of Reapers and Predators.

Tax-funded DoD research is the backbone of the modern, hi-tech economy. But these technologies are dual-use. The companies that many of us take for granted–including Amazon, Apple, Facebook, Google, Microsoft and PayPal–are connected indirectly and sometimes very directly to the US military-intelligence complex.


Posted at 10:26 AM (CST) by & filed under Jim's Mailbox.


The New York Times is called out by Peter Koenig.


Venezuela In “Misery” – Lies And Deceit By The Media Open Letter To The New York Times
May 19, 2019

Note by The Saker: I normally don’t post open letters, but in this case I made an exception since this latter is also an analysis and because of the importance of this issue.

by Peter Koenig for The Saker Blog

To the Editor in CHIEF

NYT – 18 May 2019

Venezuela’s Collapse Is the Worst Outside of War in Decades, Economists Say


Butchers have stopped selling meat cuts in favor of offal, fat shavings and cow hooves, the only animal protein many of their customers can afford.

This introduction is accompanied by a picture of a man in rags, pushing a shopping cart through a garbage dump site. You, NYT, say it is in Maracaibo, Venezuela, the man looking for recyclables. The photo could be from anywhere, the same with a picture further down in the text – depicting a young woman nursing a baby in the dark – you say in a typical Venezuelan blackout.

This is a flagrant misrepresentation of what’s going on in Venezuela.

The New York Times is known for selecting photos from places of misery, could be slums from anywhere in the world, and placing them where it is most convenient to propagate a lie story – a story meant to demean a country in the public opinion, a country that the empire wants to subdue by bashing and insulting it – so the public – the braindead western public, notably in the US and Europe, will tolerate or even scream for a “humanitarian invasion” from the friendly US of A.




How many times can the USA get away with bombing a country based on lies?


Further Evidence US Attacked Syria Based on False Flag
May 19, 2019

By Tony Cartalucci “Information Clearing House” –   Further evidence has emerged indicating that the alleged 2018 Douma, Syria chemical attack was staged by US-backed militants, not the Syrian government.

With the US plotting war from South America to the South China Sea, understanding how US-backed militants staged the attack, allowing the Western media to sell US military intervention to the global public based on a lie – will help guard against similarly staged attacks in the near future.

Recent revelations mean the US not only falsely accused Damascus of having carried out the attack – but launched military strikes against Syria based on an entirely false pretext. To date, the US has categorically failed to produce any convincing evidence backing their original claims.

Conversely, a subsequent investigation carried out by the Organisation for the Prohibition of Chemical Weapons (OPCW) produced damning evidence suggesting a false flag event was carried out by US-backed militants. This included a chlorine gas cylinder found in a militant weapons workshop inspected by OPCW investigators closely matching the two cylinders allegedly used in the 2018 Douma attack itself.

While US-backed militants insisted two gas cylinders were dropped on Douma by government helicopters, the OPCW noted that the alleged craters caused by the cylinders’ impact matched those on nearby buildings clearly caused by high-explosive ordnance.




Interesting how things are evolving on the foreign policy front.

As we noted previously, the reason for the dramatic market response is that the presidential visit flags policy priorities, and “rare earths have featured in the escalating trade spat between the U.S. and China.” 

We have witnessed, over the past years, the threats by the U.S. imposed upon foreign corporations and governments in terms of the Dollar.

“Do not go along with our self serving foreign policies and ideological beliefs and you will be banned from trading with us, from US Dollar transfers via SWIFT, and from even getting your gold back that’s in storage and safekeeping within our borders.

Well, the implications of such acts are far reaching and enormous.  No longer will the world trust us to honor commitments in international trade, finance, and safety.

There will be a point when alternative suppliers will be sought out and relied upon to the exclusion of U.S. counterparts.

There will be to turning back.

CIGA Wolfgang Rech

Rare-Earth Stocks All Soar “Limit Up” After Xi’s Threat
May 21, 2019

Chinese rare-earth stocks soared overnight for a second day following the implicit trade restrictions (export ban?) threat signaled by Xi Jinping’s visit to JL Mag, a material producer in Jiangxi province.

As Bloomberg notes, China Northern Rare Earth, Shenghe Resources, China Minmetals Rare Earth, and JL MAG Rare-Earth all spiked by the 10% daily limit in mainland trading, extending Monday’s similar gains…



















Posted at 10:22 AM (CST) by & filed under In The News.

There Is A Real Problem For The Central Shorts
May 21, 2019

Great and Wonderful Tuesday Morning Folks,  

     Gold is lower under the US Dollar with the trade at $1,272 down $5.30 with the low right here at $1,271.20 and the high to beat at $1,277.70. Silver is doing the same with its trade at $14.375, down 7 cents with its trade right at the low of $14.36 and our high to beat at $14.46. At least the Dollar is heading higher against the metals with the value pegged at 97.945 up 18.1 points and it too is right beside the forced number at 97.975 with the low to beat at 97.78. All this opposing activity was recorded before 5 am pst, the Comex open, and before the London close.    

     In Venezuela, Gold is now priced at 12,704.10, losing 38.95 Bolivar in value with Silver doing the same, continuing its slide downward with its trade at 143.421, losing .249 of a Bolivar. In Argentina, Gold has reversed with its trade gaining 6.95 Argentinian Pesos with the price at 57,474.98. Silver is trading at 649.511, it too regaining 2.17 A-Pesos. Since Turkey is now acting out by cutting its interest rates from 25.5% to 24% we’ll start looking at the power of precious metals under that currency as well with Gold now priced at 7,704.87 Lira with Silver gauged at 87.0735.    

     The Silver Deliveries for the month of May still have some intrigue to deal with as we see the demands for physical at 227 and with a Volume of 22 up on the board so far this morning, proving a drop of 126 demands as either receipts for physicals have been dished out, a short trader exited, or some EFP’s going to London, sometime over the past 3 days. Even though the price of the precious metals keeps getting played with, the real fear factor is not in the price but the numbers behind the price that is proving the thesis that there is a real problem for the central shorts who constantly try to scare the trade lower. No one on the Long side is getting out! That is our point here! The Overall Open Interest in Silver continues to climb with yesterday’s additions putting on another 979 more shorts in order to stay the price making the new total now 210,487 Overnighters. This is what most stock chartists cannot see nor understand. Commodities Open Interest and Volumes will be what tells us when the pressure is too much for the shorts, not the charts. Charts are like Hollywood, simply pretty pictures with no intelligence because the chart uses the fake prices to paint the exact opposite of what is really going on.  


Bill Holter’s Commentary

It looks like “sunrise” for the vampires!


READ: The transcribed interview of Trisha Anderson by the Committee on the Judiciary, joint with the Committee on Oversight and Government Reform.

READ: The transcribed interview of William Sweeny by the Committee on the Judiciary, joint with the Committee on Oversight and Government Reform.

READ: The transcribed interview of Loretta Lynch by the Committee on the Judiciary, joint with the Committee on Oversight and Government Reform.

. . .


Posted at 10:15 AM (CST) by & filed under Jim's Mailbox.

People don’t realize that they are voluntarily giving up cash for digital. The less cash in circulation, the easier it will be for TPTB to make us go cashless. If we want to remain autonymous and without transaction records, we need to keep cash in circulation as long as possible. Everything else except for PMs are traceable, trackable and taxable. We all need to be using more cash, not less.



The number of cash machines around the world fell last year as usage of paper money and coins continues to decline.

I can’t help but believe this is what the government wants.

Nobody really has cash anymore.  And by that, I mean money. We’ve all read articles how the current generation is living paycheck to paycheck and can’t afford to purchase homes anymore.

So, to keep the economy’s head above water, we corral the herd of Millennials, and everyone for that matter, into credit cards and subsequent debt overload.   Just to keep them buying….stuff.

But eventually, it will all come home to roost one day.

CIGA Wolfgang Rech

Number Of ATMs Falls Globally As Cash Continues To Die
May 20, 2019

The number of cash machines around the world fell last year as usage of paper money and coins continues to decline.

New research by banking consultancy RBR claims that the number of ATMs (automated teller machines) declined by 1% to 3.24m in 2018.

The fall comes amid declining usage of cash in developed markets globally. Sweden has already gone cashless and only 30% of transactions in the UK use cash today. Consumer group Which? said this month that the number of free cash machines in the UK declined by 1,700 in the first three months of the year.

Four of the world’s five biggest markets for cash machines registered a drop in numbers last year, RBR said. The number of ATMs fell in China, the USA, Japan, and Brazil.

“While the outcome was the same, each of these markets had its own reasons for the removal of ATMs,” RBR said. “In China, the swift adoption of non-cash payments has contributed to a similarly rapid fall in ATM installations. Branch closures have led to fewer bank ATMs in the USA.”

Growth in the number of ATMs in India, the fifth biggest market, slowed. Between them, China, the USA, Japan, Brazil, and India are home to over half of the world’s ATMs.




Not for anything, but it’s the concept that bothers me.

Promising to pay the holder in silver, then reneging.

A silver certificate dollar bill is a former circulation of paper currency that allowed for the direct exchange of silver.

Certificates were issued in place of the silver dollars because of the weight of the coins.

In 1963, the House of Representatives passed PL88-36, repealing the Silver Purchase Act and instructing on the retirement of $1 silver certificates. The act was predicated by a prospective shortage of silver bullion

Investors of silver were naturally upset at the passing of this law, which rendered their holdings worthless.

Never, ever trust anyone. Not even the government.






First they convince you that the paper promises are as good as silver…simply easier to carry around.

Then they say…Sorry Charlie.

CIGA Wolfgang Rech

What Is a Silver Certificate Dollar Bill Worth Today? (SLW, SVM)
May 20, 2019

A silver certificate dollar bill is representative of a unique piece of history. It no longer carries any monetary value as an exchange for silver, yet collectors still seek out the print. Its history dates back to the 1860s, and the certificate is a unique historical artifact representing a time period when the monetary structure of the United States was changing.

Silver-Certificate Dollar Bill

A silver certificate dollar bill is a former circulation of paper currency that allowed for the direct exchange of silver. This representative money allowed for the redemption of silver coins or raw bullion equal to the certificate’s face value. The certificate was used to back U.S. paper currency systems during the 1800s and 1900s. Other countries to have issued silver certificates include Cuba and the Netherlands.

Old Silver Dollar Certificates

The U.S. government began issuing silver certificate dollars in 1878. The certificates were initially issued in response to the Fourth Coinage Act of 1873. Enacted by the 42nd United States Congress, the act abolished the rights of holders of silver bullion to have their holdings converted into legal-tender dollars, ending bimetallism and effectively placing the United States on the gold standard. In 1874, the legal-tender status for silver certificates was removed for debts exceeding $5.



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

The Continuing Saga Of The Lone Ranger’s (Missing) Horse
May 20, 2019

Great Monday Morning Folks,    

      Gold is trading up at this very second, with the price at $1,275.90, up 20 cents inside a very tight trading range between $1,278.70 and $1,273.30. Silver is equally as flat, this time trading lower at $14.385, down 3/10ths of a penny with its range set so far between a high of $14.44 and its low at $14.355. The US Dollar is also equal in flatness with its trade barely making a move at 97.795, down 2.9 points after reaching as high as 97.875 before turning down with the low so far at 97.76. All of this non activity being done way before 5 am pst, the Comex open, and the close in London.    

      In Venezuela, the price of the real currency is taking a beating with Gold now at 12,743.05, losing 111.86 in Bolivar value with Silver at 143.670, losing .999 Bolivar. Argentina’s Peso has Gold priced at 57,405.48 proving a loss of 291.66 Pesos with Silver at 647.341, it too continuing to lose as another .806 A-Pesos have been removed over the weekend. Turkey’s Lira now shows Gold breaking thru its life of contract high over the past few days with Silver next in line, as we wait for the inevitable break in confidence within the primary currencies.       

      May Silver Deliveries remain the question with the total demand for physicals stuck at 353 requests with a Volume of 7 up on the board so far this morning showing no changes since Friday’s early morning count. This has been proven as typical since we’ve been writing up our early morning trade report, COMEX cannot seem to post real live data, even though all transactions are done in a computerized trading system. In short, all this data should be accurate, live, and without mistakes, and here we sit, still waiting for COMEX to catch up. Even the COT reports should be updated daily by now, Hello!! Silver’s Overall Open Interest remains elevated at 209,508 Overnighters proving only 94 Obligations left the field of play as very few “longs” have left the trade even as the shorts piled on almost all of last week.