TRADE WAR ESCALATION WITH TRUMP RESTRICTING CHINESE OWNERSHIP OF TECH COMPANIES

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by Harvey Organ, Harvey Organ Blog:

NAVARRO SAVES THE DOW DENYING THE STATEMENT FROM TRUMP/GOLD DOWN $1.45 TO $1267.30/SILVER DOWN 12 CENTS TO $16.33//HUGE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1267.30 DOWN $1.45(COMEX TO COMEX CLOSINGS)

Silver: $16.33 DOWN 12 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1265.90

silver: $16.32

TOMORROW IS OPTIONS EXPIRY FOR COMEX/ GOLD AND SILVER AND THIS FRIDAY, FOR OTIC/LONDON GOLD SO EXPECT MORE WHACKING BY THE CROOKS.

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:19 NOTICE(S) FOR 1900 OZ
TOTAL NOTICES SO FAR 6836 FOR 683600 OZ (21.262 tonnes)

For silver:

JUNE

3 NOTICE(S) FILED TODAY FOR
15,000 OZ/
Total number of notices filed so far this month: 1076 for 5,380,000 oz

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Bitcoin: BID $6017/OFFER $6167: DOWN $647(morning)
Bitcoin: BID/ $6117/offer $6217: UP $100 (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: 1274.11
NY price at the same time: 1270.45

PREMIUM TO NY SPOT: $4.66

Second gold fix early this morning: 1273.44
USA gold at the exact same time:1265180

PREMIUM TO NY SPOT: $8.26

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 206 CONTRACTS FROM 219,254 UP TO 219,048 ACCOMPANYING FRIDAY’S GOOD 12 CENT GAIN 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 GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 1202 EFP’S FOR JULY, 248 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 1450 CONTRACTS. WITH THE TRANSFER OF 1450 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 1450 EFP CONTRACTS TRANSLATES INTO 7.25 MILLION OZ ACCOMPANYING:

1.THE 12 CENT GAIN IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (5.380 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:

57,140 CONTRACTS (FOR 17 TRADING DAYS TOTAL 57,140 CONTRACTS) OR 285.70 MILLION OZ: (AVERAGE PER DAY: 3361 CONTRACTS OR 16.81 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 285.70* 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.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1,601.82 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 206 DESPITE THE GOOD 12 CENT GAIN 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 GOOD SIZED EFP ISSUANCE OF 1450 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: 1202 EFP CONTRACTS FOR JULY, 248 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: 1450). TODAY WE GAINED AN CONSIDERABLE: 1619 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e.1450 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN INCREASE OF 169 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 12 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $16.45 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. 1.097 MILLION OZ TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JUNE MONTH/ THEY FILED AT THE COMEX: 3 NOTICE(S) FOR 15,000 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 (5.380 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 2976 CONTRACTS UP TO 473,193 WITH THE RISE IN THE GOLD PRICE/FRIDAY’S TRADING (A TINY RISE OF $0.25). 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 FAIR SIZED 4393 CONTRACTS : JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF: 4393 CONTRACTS WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 473,193. 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 STRONG OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 2976 OI CONTRACTS INCREASED AT THE COMEX AND A FAIR SIZED 4393 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 7369 CONTRACTS OR 736,900 OZ = 22.92 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A TINY RISE OF $0.25.???

FRIDAY, WE HAD 12151 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 183,602 CONTRACTS OR 18,360,200 OZ OR 571.07 TONNES (17 TRADING DAYS AND THUS AVERAGING: 10,800 EFP CONTRACTS PER TRADING DAY OR 1,080,000 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAYS IN TONNES: 571.07 TONNES

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

THUS EFP TRANSFERS REPRESENTS 571.07/2550 x 100% TONNES = 22.39% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JUNE ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 4,022.90* 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 2976 DESPITE THE TINY $0.25 RISE IN PRICING GOLD TOOK ON FRIDAY // ($0.25 RISE). WE ALSO HAD A FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 4393 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 4393 EFP CONTRACTS ISSUED, WE HAD A STRONG NET GAIN OF 9407 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

4393 CONTRACTS MOVE TO LONDON AND 2976 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 22.92 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED AT THE COMEX WITH A RISE OF $0.25 IN TRADING!!!.

we had: 19 notice(s) filed upon for 1900 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 $1.45 TODAY: / NO CHANGES IN GOLD INVENTORY AT THE GLD/

/GLD INVENTORY 824.63 TONNES

Inventory rests tonight: 824/63 tonnes.

SLV/

WITH SILVER DOWN 12 CENTS TODAY /NO CHANGES IN THE SILVER: ANOTHER DEPOSIT OF 941,000 OZ/

/INVENTORY RESTS AT 320.301 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 209 CONTRACTS from 219,254 DOWN TO 219,048 (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:

1202 EFP’S FOR JULY, 248 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1450 CONTRACTS . EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI GAIN AT THE COMEX OF 169 CONTRACTS TO THE 1450 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GOOD GAIN OF 1244 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 6.220 MILLION OZ!!! AND THIS OCCURRED WITH A GOOD 12 CENT GAIN 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 TINY SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE GOOD THE 12 CENT GAIN THAT SILVER TOOK IN PRICING ON YESTERDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 1450 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
i)MONDAY MORNING/SUNDAY NIGHT: Shanghai closed DOWN 30.42 POINTS OR 1.05% /Hang Sang CLOSED DOWN 277.31 POINTS OR 1.29% / The Nikkei closed DOWN 178.68 POINTS OR 0.79% /Australia’s all ordinaires CLOSED DOWN 0.21% /Chinese yuan (ONSHORE) closed DOWN at 6.5402 AS POBC EXERCISED A HUGE DEVALUATION/Oil UP to 68.80 dollars per barrel for WTI and 74.33 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED//. ONSHORE YUAN CLOSED DOWN AT 6.5402 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5472 HUGH DEVALUATION/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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