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.   


Posted at 1:24 PM (CST) by & filed under In The News.

China Doesn’t Want to Be Like the West
May 18, 2019

Theories abound for why the U.S.-China trade talks collapsed into stalemate, from misplaced overconfidence on the part of Beijing to President Donald Trump’s calculation that a tariff fight will boost his re-election chances. It helps to look beyond the political maneuvering and consider China’s history.

Throughout its 500-year relationship with the West, Beijing has sought to profit from its wealth without truly embracing its ideals and norms. That long-standing ambivalence is playing out in trade negotiations today, and probably doomed them before they even got underway.

The notion that China can be turned “Western” has been the mainstay of U.S. foreign policy toward Beijing since President Richard Nixon held his famous 1972 meeting with Mao Zedong. But the thinking goes back much further. In the 18th century, the European powers, frustrated by Chinese trade practices, wanted the Qing Dynasty to adopt its economic principles, too. Back then, China was more than happy to trade porcelain and tea for silver, but the court tightly controlled such exchanges. That seemed unfair to merchants who desired free trade. In 1793, the British sent a mission led by Lord Macartney to Beijing to plead for market opening and other reforms.


Posted at 9:08 AM (CST) by & filed under Jim's Mailbox.

If this is for real it is the start of a trend we have all hoped for. Slowing down the Process to Perdition is meaningful.


I don’t see this really helping too much…what needs to be done is restrict HFT from holding lion shares of anything.


Futures Exchange To Introduce Gold, Silver “Speed Bump” To End HFT Manipulation
May 17, 2019

No sooner had we covered the battle of high frequency traders physically moving infrastructure and microwave towers to gain nanosecond advantages, that we learned that Intercontinental Exchange (ICE) has planned on launching the first ever “speed bump” for the US futures market that would negate some of these advantages. Despite two of the CFTC’s five commissioners disagreeing with the decision, the exchange still looks set to impose a split second delay on some trades, according to the Wall Street Journal.

Those not in favor of the decision claim that the “speed bump” would unfairly punish firms that rely on their speed advantage. Those in favor, say that it’s about time someone did something to stop the HFTs from frontrunning everyone in the futures market. Which is also why some of the largest high frequency trading firms are vocally opposed to the plan.

As part of the proposed speed bump, the ICE is looking to introduce a 3 millisecond pause before executing some trades in its gold and silver futures contracts. Trading in those contracts is relatively tiny, as most gold and silver futures trades take place at the CME Group. However, traders have been watching this decision because of the precedent it could set.

The CFTC had a chance to block the proposal within 90 days, but that period ended on Tuesday. Now, ICE is free to do as it pleases. The CFTC’s Division of Market Oversight said it’s going to watch carefully to analyze the impact of the new “speed bump” saying it “does not view the certification of the ICE Rule as establishing a precedent with respect to the legal and policy merits of speed bump functionalities generally.”




I bring this point up many times in our Saturday talks.


“Cultural Schizophrenia”: US Media No Longer Reports Facts, But Appeals To Emotions
May 17, 2019

Authored by Mac Slavo via,

The mainstream media in the United States has made a shift in the past few decades.  Now, they appeal to emotions as opposed to reporting the facts. This “cultural schizophrenia” is tearing the U.S. apart at the seams.

Based on the conclusions to a RAND Corporation study, the mainstream media is actively sowing discord in American society, award-winning journalist Chris Hedges tells RT. The media is focusing on making two sides hate each other instead of reporting on the facts, and the majority of the public is unaware and doesn’t care that their minds are being manipulated by their own emotional responses.

The study, which was released by RAND earlier this week, states that between 1987 and 2017, news content has shifted from event- and context-based reporting to coverage that is “more subjective, relies more heavily on argumentation and advocacy, and includes more emotional appeals.” According to RT,  prime-time cable news shows and online journalism lead the way in this shift to emotional and hate-based rhetoric. It has been noticed in print journalism as well, the government-funded think tank concluded.

This is contributing to what RAND termed “Truth Decay.” This is described as a shift away from facts and analysis in public discourse.


Posted at 3:55 PM (CST) by & filed under In The News.

The Lone Ranger’s Horse (Silver) Breaks Free! Or Did He?
May 17, 2019

Great and Wonderful Friday Morning Folks,   

      We start our last day of the week off with Gold trading slightly higher at $1,287.10, up 90 cents and close to the high at $1,289 with the low at $1,284.50. Silver is trading lower as well, but that depends on what contract one quotes with July’s price now at $14.485, down 5.4 cents with a high to beat at $14.555 and the low, close to where we are now at $14.45. The US Dollar’s trade is still benefiting with the price pegged at 97.75, up 7.2 points and right beside the high at 97.775 with the low at 97.59. Of course all of this is done while we sleep, during London’s trading time, before 5 am pst, and the Comex Open.    

      Our Emerging markets paragraph starts off with Venezuela’s Bolivar collapse, which made the precious metals soar over the past 2 years with Gold now at 12,854.91 showing another loss of 74.91 in Bolivar value being taken out with Silver now at 144.669 losing 3.06 in Bolivar value all during this overnight period. Argentina’s Peso now has Gold priced at 57,597.06 Argentine Peso’s, losing a huge amount totaling 643.41 A-Pesos with Silver now posting a price of 648.147 losing 17.372 in A-Peso value in what we call, “a cleaning by the shorts”.    

      The Silver Deliveries is where our focus has been for way too long and admittedly, with the way things have been going for our sector, I was thinking we may never see a jump in demand ever again. That is until yesterday’s trade when someone decided the low was here and placed a sizable order for physical as we witnessed an increase in May’s Open Interest now totaling 353 Contracts waiting for physical. This is an increase of only 55 Contracts which is nowhere near the additional trades made in May’s delivery contract which had a Volume of over 270 during yesterday’s beating. Someone stepped in and purchased over 1,350,000 ounces within the Delivery Month. Either to buy physicals, or to exit a near term hedge, or maybe it’s another level of EFP’s going to London. No matter what, this is huge and should mean something in support for High Ho Silvers price. The demands for physical has now pushed the May Silver price to $14.58, far above June’s price at $14.42, July’s price at $14.445, Sept Silver’s price at $14.52, with December’s at $14.63, oops! Now we have Decembers price at $14.60. Every single month of trade, with the exception of December’s price is proving demand is accelerating beyond the capacity to manipulate (in my opinion).   


Posted at 1:30 PM (CST) by & filed under Jim's Mailbox.

Courtsey of Dave.


What Putin And Pompeo Did Not Talk About
May 15, 2019

by Pepe Escobar : Posted with permission

Russia is uneasy over the destabilization of Tehran, and on other hotspots the powers’ positions are clear.

Even veiled by thick layers of diplomatic fog, the overlapping meetings in Sochi between US Secretary of State Mike Pompeo and President Putin and Foreign Minister Sergey Lavrov still offer tantalizing geopolitical nuggets.

Russian presidential aide Yury Ushakov did his best to smooth the utterly intractable, admitting there was “no breakthrough yet” during the talks but at least the US “demonstrated a constructive approach.”

Putin told Pompeo that after his 90-minute phone call with Trump, initiated by the White House, and described by Ushakov as “very good,” the Russian president “got the impression that the [US] president was inclined to re-establish Russian-American relations and contacts to resolve together the issues that are of mutual interest to us.”

That would imply a Russiagate closure. Putin told Pompeo, in no uncertain terms, that Moscow never interfered in the US elections, and that the Mueller report proved that there was no connection between the Kremlin and the Trump campaign.

This adds to the fact Russiagate has been consistently debunked by the best independent American investigators such as the VIPS group.


Posted at 3:21 PM (CST) by & filed under Jim's Mailbox.


As I have said many times, if you get your news from MSM you are being mislead.


US Press Reaches All-Time Low On Venezuela Coverage
May 14, 2019

Authored by Daniel Kovalik via,

As famed Latin American author Eduardo Galeano once wrote, “every time the US ‘saves’ a country, it converts it into either an insane asylum or a cemetery.” Of course, as we look over the wreckage left by the US in countries such as Iraq, Afghanistan, Libya, Somalia, Syria, El Salvador, Guatemala and Honduras, we see that this statement is demonstrably true. And yet, now that the US is poised for another intervention, this time in Venezuela, the press is right there again to cheer it along.

Analyzing 76 total press articles of the “elite” press from January 15 to April 15, 2019, Fairness & Accuracy In Reporting (FAIR) could find not one voice that opposed Trump’s regime plans in Venezuela. Meanwhile, 54 percent openly supported these plans.  Of course, this should not be all too surprising given the press’s usual complicity in past US war efforts — e.g., by pushing such war lies as the Gulf of Tonkin, the killing of babies in Kuwait, the WMDS of Iraq and the alleged Viagra-fueled rapes in Libya.  The current war lies are coming fast and furious from such outlets as CNN which lied about seeing Maduro forces lighting aid containers on fire at the Colombian border (it was in fact opposition forces which did so as the NYT admitted two weeks later), and which claimed that US puppet Juan Guaido actually won the presidential election against Nicolas Maduro when in fact Guaido never even ran for president.

What is quite stunning, however, is the total unanimity of the press in uncritically covering and supporting the ongoing coup in Venezuela. This is baffling because the same press outlets which have been rightly critical of Trump for all of his stupidity, lying and meanness, have suddenly found him brilliant, true and benevolent when it comes to Venezuela. This is particularly remarkable given that his partners in this crime are Neo-Con John Bolton; former CIA Director Mike Pompeo who recently joked that the CIA’s true motto is “We lied, We Cheated, We Stole”; and convicted liar Elliott Abrams.  As for Abrams, he is infamous for his role in the illegal funding of the Nicaraguan Contras; his covering up of the El Mazote massacre in El Salvador in which around 1000 civilians, mostly women and children, were killed by US-backed forces; and his aiding and abetting the US-backed genocide in Guatemala.




MSM doing what it does best, misleading the public.


Leaked Document Pokes More Holes In Establishment Syria Narrative
May 14, 2019

Authored by Caitlin Johnstone via,

“It is hard to overstate the significance of this revelation,” tweets former British MP George Galloway of a new report by the Working Group on Syria, Propaganda and Media (WGSPM).

“The war-machine has now been caught red-handed in a staged chemical weapons attack for the purposes of deceiving our democracies into what could have turned into a full-scale war amongst the great-powers.”









“An important #Douma #Syria ‘Assad chemical weapon attack’ development and yet more evidence to suggest the ‘attack’ was staged, as it’s now revealed that @OPCW suppressed expert engineers report that found the cylinders were likely not dropped from the air,” tweets former Scotland Yard detective and counterterrorism intelligence officer Charles Shoebridge.

“The engineering assessment confirms our earlier conclusion,” the excellent Moon of Alabama blog writes.

“The whole scene as depicted by ‘rebels’ and propaganda organs was staged. The more than 34 dead on the scene were murdered elsewhere under unknown circumstances.”




5G info.


Children And EMFs: What You Need To Know
April 24, 2019

Children are far more vulnerable to the damaging effects of electromagnetic fields than we are. Your child’s brain absorbs two to three times as many EMFs as yours, and sources of exposure are everywhere. What can you do?

Is your child’s favorite pastime screen time? Are you concerned about how much cumulative exposure your kids have to electromagnetic radiation at home and at school from computers, cell phones, tablets, electronic toys, cell towers, power lines and the like?

If not, you should be!

Children are more vulnerable than adults to the effects of EMF (electromagnetic frequencies or fields) for a number of reasons, and most are submerged in an electrosmog soup all day, every day. What are the risks?

Very few human studies have focused specifically on cell phone towers and cancer risk, but the latest studies about cell phones and brain cancer are very disturbing.

In 2016, the National Toxicology Program released the results from the largest cell phone study ever performed showing an undeniable association between nonionizing radiation and cancer. Rats exposed to the frequency of radiation emitted by cell phones developed two kinds of tumors: gliomas in the brain and schwannomas in the heart. These results align with several observational studies finding links to the same types of tumors in humans – plus acoustic neuromas and meningiomas.




We said from day one a trade war was not a good idea.


China Calls For “People’s War” Against The US, Vows To “Fight For A New World”
May 15, 2019

While market mood has shifted diametrically from yesterday, with stocks sharply higher on Tuesday following what has widely been interpreted as conciliatory comments from both president Trump and various members of China’s ruling elite, one would be hard pressed to find any de-escalation amid the Chinese press commentaries written in the aftermath of the latest escalation in trade war between the US and China.

In a series of editorials and op-ed articles published Monday and Tuesday, Chinese state media slammed what it labeled the Trump administration’s “greed and arrogance”, called for a “people’s war” targeting the US “with precision” as China begins a “fight for a new world.”

“The most important thing is that in the China-US trade war, the US side fights for greed and arrogance … and morale will break at any point. The Chinese side is fighting back to protect its legitimate interests,” the nationalist, state-owned Global Times tabloid wrote.

Urging indirect boycott of US goods and services, the editorial slammed Trump and suggested a nation-wide uprising against the US aggression: “The trade war in the US is the creation of one person and one administration, but it affects that country’s entire population. In China, the entire country and all its people are being threatened. For us, this is a real ‘people’s war.'” Whether this means a renewed collapse in Chinese iPhone sales remains to be seen – for confirmation, watch for a new guidance cut from Apple in the coming days.




Denny brought this up on Saturday and we have said all along Americans are not being told the truth by MSM about the need to hold Gold.


The Vast Gold Hoards Held By Germany’s Population
April 28, 2019

Submitted by Ronan Manly,

While the Chinese and Indian populations are well known for their insatiable appetite for importing, buying and hoarding physical gold, there is one market in the West that does likewise but which flies under the radar slightly, garnering less attention than China and India. That gold market is Germany.

Although German citizens are known for their fondness for holding gold, the vast size of the German population’s gold holdings was clarified recently in a newly published survey commissioned by Reisebank, a bank active in the German precious metals market.

The survey, conducted by the Research Center for Financial Services (CFIN) on behalf of Reisebank, found that German adults currently own a staggering 8918 tonnes of gold, worth about € 330 billion at current Euro gold prices. Note, this figure is gold held by private citizens in Germany and does not include the gold reserves of the German central bank, the Bundesbank, which amount to an additional 3370 tonnes.

Germans hold 4925 tonnes of gold bars and gold coins

Of the 8918 tonnes of gold held by the German population, CFIN data says that 4925 tonnes (or 55% of the total) is held in the form of physical gold bars and gold coins, with 3993 tonnes held in the form of gold jewellery.



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.

As the World Gold Council’s report showed us, foreign governments and central banks have been buying a LOT more gold than in previous years.

Net gold purchases in Q1/2019 among foreign governments and central banks was nearly 70% greater than Q1/2018… and the highest rate of first quarter purchases in six years.

The Chinese in particular, have been stockpiling gold faster than ever, while at the same time, Chinese ownership of US treasuries as a percentage of total holdings has been gradually declining over the past years.


Posted at 2:17 PM (CST) by & filed under In The News.

It Doesn’t Take Much to Stampede a Jittery Herd
May 15, 2019

Great Wednesday Morning Folks,   

      Gold is trading higher as we start the “too early to trade report” with the price at $1,298.40 up $2.10 after reaching $1,300.00 with the low down at $1,293.60. Silver is flat at $14.805, down .007 of a penny inside a trading range between $14.865 and $14.765. The US Dollar’s trade continues to find buyers with its value at 97.46, up 13.8 points and at the high with the low at 97.24. What really seems to be sticking out over the past several months is the complete reversal in all US Treasury Instruments making us think that something very very bad is happening and all the while, everyone, NOT part of the club, is kept out of the discussion, which means those in the club, are the ones in trouble. All of this activity of course was done way before 5 am pst and the Comex Open, also way before the London close.   

      Venezuela’s currency now has Gold priced at 12,967.77 Bolivar taking back a little (11.99) from yesterday’s move with Silver now at 147.865, gaining 5 cents worth of Bolivar value on top of yesterday’s gains. Argentina’s Peso has yet to see the slicing off of digits to the left of the decimal as it shows Gold’s price now at 58,350.50 losing some 116.83 in Peso value after the giant move in yesterday’s trade. Silver under the same currency is now at 665.321, losing 2.52 A-Pesos as the swings remain wild under the emerging markets. 

The May Deliveries in Silver seems to have slowed down a little with the demand for physicals at 295 fully paid for contracts waiting for receipts and with no Volume up on the board so far this morning proving a reduction of 12 but with no receipts being settled out as of late last night (thank you Harvey). It also seems the Algos are no longer churning the trade, at least since yesterday. What is meant by this statement is the early morning Volumes are only at 17,324 for the July contract which has an Open Interest Count of 154,126. In the past few months we’ve seen giant amounts of churn (in the Volume, in fact, some days the churn was more than the OI count) even when the prices are not moving. Now we see the exact opposite happening, a 10 cent swing in price with a low count under 18k in Volume, this could mean something and maybe even be a positive for the price. Stay Tooned!   


Jim Sinclair’s Commentary

The latest from John Williams’

– Inflation Increase Reflected Gasoline Prices, Not a Booming Economy
– Real Average Hourly Earnings Declined for the Second Straight Month
– Weaker Than Expected Economic Reporting Looms
– Downside Revisions to First-Quarter GDP Should Follow
– Market Sentiment Should Begin Shifting Back Towards a Fed Easing

“Bullet Edition No. 9”