CONTINUAL TROUBLES FOR DEUTSCHE BANK AS THEIR CO- CO BONDS CLIMB IN YIELD ABOVE 10%

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by Harvey Organ, Harvey Organ Blog:

WE HAVE NOW FINISHED OPTIONS EXPIRY: GOLD RISES $3.70 UP TO $1253.15/SILVER UP 14 CENTS TO $16.14./ECB ISSUES TRIAL BALLOON THAT THEY WILL ENGAGE IN ANOTHER OPERATION TWIST: EURO RISES/CANADA RETALIATES AGAINST THE USA TARIFFS/ARGENTINIAN INTEREST RATE (OVERNIGHT MONEY) RISES TO 40% AS BONDS TANK

GOLD: $1253.15 UP  $3.70(COMEX TO COMEX CLOSINGS)

Silver: $16.14 UP 14 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1253.40

silver: $16.14

 

 

 

For comex gold:

JULY/

NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT:15 NOTICE(S) FOR 1500 OZ

TOTAL NOTICES SO FAR 15 FOR 1500 OZ (0.0466 tonnes)

For silver:

JUNE

1888 NOTICE(S) FILED TODAY FOR

9,440,000 OZ/

Total number of notices filed so far this month: 1888 for 9440,000 oz

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Bitcoin: BID $5846/OFFER $5934: DOWN  $47(morning)

Bitcoin: BID/ $5838/offer $5923: DOWN $58  (CLOSING/5 PM)

end

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix:  2:15 pm

First Shanghai gold fix gold: 10 pm est: 1254.63

NY price  at the same time: 1247.05

PREMIUM TO NY SPOT: $7.58

Second gold fix early this morning: 1256.42

USA gold at the exact same time:1252.05

PREMIUM TO NY SPOT:  $4.37

AGAIN, SHANGHAI REJECTS NEW YORK PRICING.

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

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In silver, the total OPEN INTEREST FELL BY A HUGE 8631 CONTRACTS FROM 218,236 DOWN TO 209,605 WITH YESTERDAY’S 18 CENT LOSS IN SILVER PRICING. NORMALLY WE WITNESS A CONSIDERABLE DROP IN COMEX OPEN INTEREST IN THE WEEK PRIOR TO FIRST DAY NOTICE.  TODAY WE WITNESS THIS PHENOMENON ONLY ON ONE DAY,  FIRST DAY NOTICE.   WE HAVE NOW ENTERED THE  ACTIVE DELIVERY MONTH OF JULY WHERE WE CONTINUE TO WITNESS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON IN GREATER NUMBERS.  WE WERE  NOTIFIED THAT WE HAD A HUMONGOUS SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 100 EFP’S FOR JULY, 5699 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 5799 CONTRACTS. WITH THE TRANSFER OF 5799 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 5799 EFP CONTRACTS TRANSLATES INTO 28.99 MILLION OZ  ACCOMPANYING:

1.THE 18 CENT LOSS IN  SILVER PRICE  AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE COMEX DELIVERY MONTH. (5.420 MILLION OZ)   AND NOW JULY/ 2018 WITH 25.945 MILLION OZ INITIALLY STANDING FOR DELIVERY.

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JUNE:

69,086 CONTRACTS (FOR 21 TRADING DAYS TOTAL 69,086 CONTRACTS) OR 345.43 MILLION OZ: (AVERAGE PER DAY: 3289 CONTRACTS OR 16.45 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  345.43* MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 49.34% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* THE 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWS THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:            1,659.73    MILLION OZ.

ACCUMULATION FOR JAN 2018:                                               236.879     MILLION OZ

ACCUMULATION FOR FEB 2018:                                               244.95        MILLION OZ

ACCUMULATION FOR MARCH 2018:                                       236.67         MILLION OZ

ACCUMULATION FOR APRIL 2018:                                          385.75         MILLION OZ

ACCUMULATION FOR MAY 2018:                                            210.05         MILLION OZ

ACCUMULATION FOR JUNE 2018:                                           345.43         MILLION OZ

RESULT: WE HAD A HUMONGOUS SIZED DECREASE IN COMEX OI SILVER COMEX OF 8631 WITH THE 18 CENT LOSS IN SILVER PRICE.  WE HAVE NOW ENTERED THE NEW ACTIVE MONTH OF JULY AND  THE CME NOTIFIED US THAT IN FACT WE HAD A GIGANTIC SIZED EFP ISSUANCE OF 5799 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) . FROM THE CME DATA:  100 EFP CONTRACTS FOR JULY,  5699 EFP’S FOR SEPT, 0 EFP’S FOR DECEMBER AND ZERO FOR ALL OVER MONTHS   FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 5799). TODAY WE LOST A CONSIDERABLE: 2832 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES: i.e.5799 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN DECREASE OF 8631  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 18 CENT LOSS IN PRICE OF SILVER  AND A CLOSING PRICE OF $16.00 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS  ACTIVE JULY DELIVERY MONTH OF ALMOST 27 MILLION OZ. IT SURE LOOKS LIKE A FAILED BANKER SHORT COVERING EXERCISE!!

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.048 MILLION OZ TO BE EXACT or 150% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 1888 NOTICE(S) FOR 9,440,000 OZ OF SILVER

IN SILVER, WE  SET THE NEW RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018.  AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

  1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ  MAY: 36.285 MILLION OZ / JUNE/2018  (5.420 MILLION OZ) AND NOW JULY 2018 AMOUNT INITIALLY STANDING: 25.945 MILLION OZ   )
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
  4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLIONOZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).

In gold, the open interest FELL BY A SMALL 130 CONTRACTS DOWN TO 470,182 DESPITE THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A  DROP IN PRICE OF $5.15).  WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF JULY. NO DOUBT THE BOYS ARE CASHING IN THEIR COMEX LONGS TO BEGIN THE PROCESS TO MOVE INTO LONDON FORWARDS.  THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A TINY SIZED 1103 CONTRACTS :  AUGUST SAW THE ISSUANCE OF:  1074 CONTRACTS, DECEMBER HAD AN ISSUANCE OF 29 CONTACTS  AND THEN ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 470,182. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A FAIR  OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES:  130  OI CONTRACTS DECREASED AT THE COMEX AND A SMALL SIZED 1103 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 973 CONTRACTS OR 97,300 OZ = 3.02 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A  FALL IN THE PRICE OF GOLD TO THE TUNE OF $5.15.???

YESTERDAY, WE HAD 6118  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 209,206 CONTRACTS OR 20,920,600  OZ OR 650.71 TONNES (21 TRADING DAYS AND THUS AVERAGING: 9962 EFP CONTRACTS PER TRADING DAY OR 996,200 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 21 TRADING DAYS IN  TONNES: 650.71 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 650.71/2550 x 100% TONNES =  25.51% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JUNE ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  4,102.91*  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES  (20 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018:             741.89 TONNES  (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018:                 713.84 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MAY 2018:                   693.80 TONNES ( 22 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JUNE 2018                      650.71 TONNES  (21 TRADING DAYS)

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

Result: A SMALL SIZED DECREASE IN OI AT THE COMEX OF 130 DESPITE THE $5.15 DROP IN PRICING GOLD TOOK YESTERDAY // .  WE ALSO HAD A SMALL SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 1103 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX.  I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 1103 EFP CONTRACTS ISSUED, WE HAD AN FAIR NET GAIN OF 973 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

1103 CONTRACTS MOVE TO LONDON AND 130 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 3.02 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED  WITH A FALL OF $5.15 IN TRADING!!!. AT THE COMEX. THE COMEX IS AN OUTRIGHT FRAUD

we had: 15 notice(s) filed upon for 1500 oz of gold at the comex.

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With respect to our two criminal funds, the GLD and the SLV:

GLD…

WITH GOLD  UP $3.70  TODAY: / A BIG CHANGE IN GOLD INVENTORY AT THE GLD/THE CROOKS RAIDED THE COOKIE JAR AGAIN TO THE TUNE OF A 1.18 TONNES OF GOLD WITHDRAWAL

/GLD INVENTORY 820.51 TONNES

Inventory rests tonight: 820.51 tonnes.

SLV/

WITH SILVER  UP 14 CENTS TODAY /NO CHANGES IN SILVER INVENTORY AT THE SLV

 

/INVENTORY RESTS AT 320.395 MILLION OZ/

 

end

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in SILVER FELL BY A HUMONGOUS SIZED 8631 CONTRACTS from 218,236 DOWN TO  209,605 (AND FURTHER FROM THE  NEW COMEX RECORD SET /APRIL 9/2017 AT 243,411/SILVER PRICE AT THAT DAY: $16.53). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 OVER ONE YEAR AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89. OUR CUSTOMARY MIGRATION OF COMEX LONGS MORPH INTO LONDON FORWARDS CONTINUES AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

100 EFP’S FOR JULY, 5699 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 5799 CONTRACTS . EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  OI LOSS AT THE COMEX OF 8631 CONTRACTS TO THE 5799 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A NET LOSS OF 2832 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES:  14.16 MILLION OZ!!! AND YET WE HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESS AN INITIAL STANDING OF CLOSE TO 27 MILLION OZ AND YET THIS OCCURRED WITH A 18 CENT LOSS IN PRICE??? .  THE BANKERS ORCHESTRATED THEIR CONSTANT AND NEVER ENDING RAIDS  DESPERATELY TRYING TO PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES WITH HARDLY ANY SUCCESS. HOWEVER A DRAMATIC AMOUNT OF EFP ISSUANCE IS HEADING OVER TO LONDON AND NO DOUBT WE WILL COME CLOSE TO BREAKING APRIL’S RECORD OF 385 MILLION OZ.

RESULT: A HUMONGOUS SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE  THE 18 CENT LOSS THAT SILVER TOOK IN PRICING ON YESTERDAY. BUT WE ALSO HAD ANOTHER HUMONGOUS SIZED 5799 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR JUNE, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

)FRIDAY MORNING/THURSDAY NIGHT: Shanghai closed UP 60.52 POINTS OR 2.17%   /Hang Sang CLOSED UP 457.70 POINTS OR 1.61%    / The Nikkei closed UP 34.12 POINTS OR 0.15% /Australia’s all ordinaires CLOSED DOWN 0.26%  /Chinese yuan (ONSHORE) closed DOWN at 6.6225 AS POBC EXERCISES A HUGE DEVALUATION IN THE LAST FEW DAYS/Oil UP to 73,29 dollars per barrel for WTI and 78.42 for Brent. Stocks in Europe OPENED  IN THE RED //.  ONSHORE YUAN CLOSED DOWN AT 6.6225 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.6319 :HUGE DEVALUATION/PAST FEW DAYS//ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING  WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH WEAKER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR IS BEGINNING

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