DEUTSCHE BANK FAILS THE FED STRESS TEST AND ORDERS 6 AMERICAN BANKS TO LIMIT PAYMENTS

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by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $5.15 TO $1249.45/SILVER DOWN 18 CENTS TO $16.00/FIRST DAY NOTICE TOMORROW/SHOULD HAVE A HUGE AMOUNT OF SILVER STANDING/SHANGHAI COMPOSITE DOWN FOR 11 STRAIGHTS DAYS/INDIA’S RUPEE COLLAPSES AS DOES THE ARGENTINA PESO/ROSENSTEIN GRILLED BY JORDAN/GOWDY AND GAETZ: HUGE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1249.45 DOWN $5.15(COMEX TO COMEX CLOSINGS)

Silver: $16.00 DOWN 18 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1248.50

silver: $16.02

ON JUNE 29 OPTIONS, FOR OTIC/LONDON GOLD EXPIRE SO EXPECT CONTINUAL WHACKING OF GOLD UNTIL TOMORROW NIGHT.

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:40 NOTICE(S) FOR 4000 OZ
TOTAL NOTICES SO FAR 6890 FOR 689000 OZ (21.430 tonnes)

For silver:

JUNE

0 NOTICE(S) FILED TODAY FOR
nil OZ/
Total number of notices filed so far this month: 1076 for 5,380,000 oz

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Bitcoin: BID $6056/OFFER $6141: DOWN $41(morning)
Bitcoin: BID/ $6076/offer $6161: DOWN $38 (CLOSING/5 PM)
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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: 1260.66
NY price at the same time: 1253.65

PREMIUM TO NY SPOT: $4.09

Second gold fix early this morning: 1253.39
USA gold at the exact same time:1253.15

PREMIUM TO NY SPOT: $0.24

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 TINY 256 CONTRACTS FROM 218,492 DOWN TO 218,236 WITH YESTERDAY’S 8 CENT LOSS IN SILVER PRICING. HOWEVER AS WE ARE NOW WELL INTO THE NON ACTIVE DELIVERY MONTH OF JUNE WE CONTINUE TO WITNESS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON IN GREATER NUMBERS. WE WERE NOTIFIED THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 2550 EFP’S FOR JULY, 827 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 3377 CONTRACTS. WITH THE TRANSFER OF 3377 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 3377 EFP CONTRACTS TRANSLATES INTO 16.805 MILLION OZ ACCOMPANYING:

1.THE 8 CENT LOSS IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (5.420 MILLION OZ) DESPITE IT BEING A NON ACTIVE DELIVERY MONTH.

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

63,287 CONTRACTS (FOR 20 TRADING DAYS TOTAL 63,287 CONTRACTS) OR 316.44 MILLION OZ: (AVERAGE PER DAY: 3164 CONTRACTS OR 15.82 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 316.44* MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 39.77% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* WE HAVE ALREADY PASSED LAST MONTH AND CLOSING IN ON THE RECORD MONTH OF APRIL/2018.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1,632.48 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

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX OF 256 DESPITE THE 8 CENT LOSS IN SILVER PRICE. WE HAVE NOW ENTERED THE NEW NON ACTIVE MONTH OF JUNE AND THE CME NOTIFIED US THAT IN FACT WE HAD A STRONG SIZED EFP ISSUANCE OF 3377 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: 2550 EFP CONTRACTS FOR JULY, 827 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: 3377). TODAY WE GAINED A STRONG: 3121 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e.3377 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN DECREASE OF 256 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 8 CENT LOSS IN PRICE OF SILVER AND A CLOSING PRICE OF $16.18 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON ACTIVE JUNE DELIVERY MONTH. 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. 1.094 MILLION OZ TO BE EXACT or 156% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JUNE MONTH/ THEY FILED AT THE COMEX: 8 NOTICE(S) FOR 40,000 OZ OF SILVER

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

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ AND MAY: 36.285 MILLION OZ /AND JUNE/2018 (5.420 MILLION OZ SO FAR)
HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ (FINAL)
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 ROSE BY A CONSIDERABLE 1739 CONTRACTS UP TO 470,312 DESPITE THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A DROP IN PRICE OF $3.60). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF JUNE. 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 ISSUANCE AND IT TOTALED A GOOD SIZED 6118 CONTRACTS : JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF: 6118 CONTRACTS WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 470,312. 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 GOOD OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 1739 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 6118 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 7857 CONTRACTS OR 785,700 OZ = 24.43 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A FALL IN THE PRICE OF GOLD TO THE TUNE OF $3.60.???

YESTERDAY, WE HAD 9008 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 208,103 CONTRACTS OR 20,810,300 OZ OR 647.28 TONNES (20 TRADING DAYS AND THUS AVERAGING: 10,405 EFP CONTRACTS PER TRADING DAY OR 1,040,500 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 20 TRADING DAYS IN TONNES: 647.28 TONNES

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

THUS EFP TRANSFERS REPRESENTS 647.28/2550 x 100% TONNES = 25.38% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JUNE ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 4,099.09* 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 (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 CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 1739 DESPITE THE $3.60 DROP IN PRICING GOLD TOOK YESTERDAY // . WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 6118 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 6118 EFP CONTRACTS ISSUED, WE HAD AN STRONG NET GAIN OF 7857 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

6118 CONTRACTS MOVE TO LONDON AND 1739 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 26.62 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED WITH A FALL OF $3.60 IN TRADING!!!. AT THE COMEX. THE COMEX IS AN OUTRIGHT FRAUD

we had: 11 notice(s) filed upon for 1100 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 DOWN $5.15 TODAY: / NO CHANGES IN GOLD INVENTORY AT THE GLD

/GLD INVENTORY 821.69 TONNES

Inventory rests tonight: 821.69 tonnes.

SLV/

WITH SILVER DOWN 18 CENTS TODAY / THE CROOKS ADDED 1.035 MILLION OZ OF SILVER INTO THE SLV

/INVENTORY RESTS AT 320.395 MILLION OZ/

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

1. Today, we had the open interest in SILVER FELL BY A TINY SIZED 256 CONTRACTS from 218,492 DOWN TO 218,236 (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:

2550 EFP’S FOR JULY, 827 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 3377 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 256 CONTRACTS TO THE 3377 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A NET GAIN OF 3121 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 15.605 MILLION OZ!!! AND YET THIS STRONG DEMAND OCCURRED WITH A 8 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 SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE THE 8 CENT LOSS THAT SILVER TOOK IN PRICING ON YESTERDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 3377 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)

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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
)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed DOWN 26.28 POINTS OR 0.93% /Hang Sang CLOSED UP 141.06 POINTS OR 0.50% / The Nikkei closed DOWN 1.38 POINTS OR 0.01% /Australia’s all ordinaires CLOSED UP 0.24% /Chinese yuan (ONSHORE) closed DOWN at 6.6235 AS POBC EXERCISES A HUGE DEVALUATION IN THE LAST FEW DAYS/Oil UP to 72,73 dollars per barrel for WTI and 78.14 for Brent. Stocks in Europe OPENED IN THE RED //. ONSHORE YUAN CLOSED DOWN AT 6.6235 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.6273 :HUGE DEVALUATION/PAST FEW DAYS//ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING MUCH 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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