Tuesday, November 13, 2018

DOW PLUMMETS BY 602 POINTS/NASDAQ FALLS BY 206 POINTS

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $4.65 AND SILVER IS DOWN 10 CENTS AS THE USA INDEX CLIMBS TO 97.59/VOLATILITY INDEX CLIMBS A HUGE 3.08 POINTS TO 20.44/ITALIAN BOND SPREAD/GERMAN BUND SPREAD RISES ABOVE 3.00 TO 3.04/CHINA REPLACES THE USA WITH RUSSIA IN THE PURCHASE OF SOYBEANS/FIFTY MILLION APARTMENTS ARE EMPTY IN CHINA IN A NIGHTMARISH SCENARIO/CARIGE BANK IN ITALY BAILED OUT TEMPORARILY BY OTHER ITALIAN BANKS BUT THE SITUATION IS DIRE/MALAYSIA SEEKS FULL REFUND FROM GOLDMAN SACHS IN SCANDALOUS 1MDB AFFAIR/SURE LOOKS LIKE VOTER FRAUD IN FLORIDA AND MAYBE ARIZONA/MORE SWAMP STORIES FOR YOU TONIGHT

Latest de-dollarization move comes from one of the U.S.’s biggest allies

by Kenneth Schortgen, Shotgun Economics:

While the sanction war America started against Russia in 2013 appears to have opened the door to de-dollarization, Washington’s latest gambit towards Iran seems to have fully opened the floodgates.  And that is because the latest country to willingly accept trade outside the dollar just happens to be a long-standing ally of the U.S..

South Korea and Iran have agreed to switch to national currencies in trade exchanges as the sides aim to strengthen relations despite the US sanctions on Tehran.

SWIFT Cuts Off Iran Central Bank As Tehran Sells 700,000 Barrels To Anonymous Direct Buyers

from ZeroHedge:

As reported last week, shortly after SWIFT caved to US pressure and defied the EU announcing it would cut off a selection of Iranian banks, on Monday, the US Treasury said the Iranian Central Bank has been officially cut off the SWIFT financial messaging system. The disconnection, which comes at a time when Iran’s economy is reeling and its currency is tumbling as a result of restricted oil exports (albeit offset by numerous temporary waivers for top Iranian oil clients), will made it far more difficult for the Islamic Republic to settle import and export bills.

China to Adopt Gold Standard? | Alasdair MacLeod

from Silver Doctors:

https://www.youtube.com/watch?v=RqVRzah34YQ

Economy Rolling Over: Focus On Housing And Tariffs

by Peter Schiff, Schiff Gold:

As the stock market was tanking last month, Peter Schiff said a recession is obviously coming. Now things have calmed down a little bit and everybody seems convinced October was just a bad month —  a needed correction. But as Peter has been saying, there are some fundamentals everybody is ignoring that look really bad. The housing market, in particular, is showing signs of trouble. In fact, we don’t have a booming economy; we have a bubble.

In an article published on Seeking Alpha, Mad Genious Economics provides an in-depth breakdown of an economy rolling over, focusing specifically on housing and auto markets, the trade war and banking.

Oil Price Getting Whacked: Lower Prices Ahead or Just A Large Correction?

from WallStForMainSt:

https://www.youtube.com/watch?v=em7l3oJc4Ng

JP Morgan Pleads Guilty to Precious Metals Manipulation (Not Suppression)

from Smaul gld:

https://www.youtube.com/watch?v=tRBTNmdWRc8

House Democrats Plan ‘Aggressive’ Gun Control Push As Soon As They Regain Control

by Emily Zanotti, Daily Wire:

House Democrats are planning an “aggressive” push to greatly expand gun control as soon as they take control of the House of Representatives in January, the Washington Examiner reports.

After a shooting at a California bar last week that claimed a dozen lives, Democrats have decided to shift (briefly) away from prioritizing several investigations into the Trump administration and President Donald Trump, and focus instead on passing strict gun control measures, including universal background checks, a national ban on “high capacity magazines,” a ban on “assault-style” weapons, and a provision that would allow law enforcement to temporarily confiscate weapons from individuals deemed a threat to themselves or others.

Trudeau To SEIZE Canadian Bank Records?! – No Place To Hide!

from World Alternative Media:

https://www.youtube.com/watch?v=K_MLdNHK5k8

Anatomy of the Housing Downturn in Vancouver, Canada

by Wolf Richter, Wolf Street:

It’s not pretty.

In 2018, “each month has brought weaker than normal sales, rising inventory, and continued downward pressure on prices” in Vancouver, British Columbia, writes Steve Saretsky, a Vancouver Realtor and publisher of real-estate blog, Vancity Condo Guide. The market faces another headwind: “With the Bank of Canada determined to reach a neutral rate of interest of between 2.5-3.5%, borrowing power continues to erode.”

Market Report: Mid-terms and USD dominate

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by Alasdair Macleod, GoldMoney:

Precious metals were lower in quiet trade this week, which was dominated by the mid-term elections and a strong dollar. Gold was down $12 from last Friday’s close at $1220 in early European morning trade today (Friday) and silver down 40 cents at $14.34 over the same time-scale.

Looking at prices and volumes on Comex suggests that yet more shorts were created at the higher price levels. We can conclude this because open interest has been rising on higher prices and on down days, taking gold’s open interest up to 502,344 on provisional figures for yesterday. This is the highest level of open interest since 20 July, when the dollar was roaring and commodities, including precious metals, were collapsing.