Thursday, October 17, 2019

SILVER PRICE UPDATE: Key Technical Levels While The Underlying Fundamentals Improve

by Steve St. Angelo, SRSRocco Report:

While the silver price is trading at another important short-term technical level, the underlying fundamentals continue to improve.  Since silver peaked at $19.75 at the beginning of September, it has been correcting lower to key support levels.  As I mentioned in my last update, the silver price would like correct back down to a key support level before moving higher.  And, if history is a guide, there is a likely price where that turnaround will occur.

Stocks Bubble Up From More Money Printing

by Dave Kranzler, Investment Research Dynamics:

The stock market spiked up last week as Trump started in with his trade war optimism tweets, which excited the algos and momentum chasers. As Monday rolled around, however,  it was determined that a “Phase 1” trade agreement amounted to nothing more than a commitment from China to buy some farm products. On Tuesday China made the purchases contingent on Trump removing tariffs. So there is no “Phase 1” trade deal.

But the hedge fund computers don’t care.  Now the market is bubbling higher on the reimplementation of Federal Reserve money printing. Call it whatever your want – QE, balance sheet growth, term repos, whatever. But the bottom line is that Fed is printing money and injecting it into the banking system, which thereby acts as a transmission mechanism channeling some portion of this liquidity into the stock market.

Why Banks Didn’t Lend to the Repo Market When Rates Blew Out: JPMorgan CEO Dimon

by Wolf Richter, Wolf Street:

“Does that mean that we have bad markets?”

This still doesn’t show who or what triggered the fire in the repo market in mid-September when overnight lending rates more than quadrupled and briefly hit 10%, but it confirms who sat there and watched the fire and fanned it though they could have extinguished it.

Due To The Weather, Midwest Farmers Fear Widespread Crop Failures And A “Record-Low” Harvest In 2019

by Michael Snyder, The Economic Collapse Blog:

Snow usually blankets the Upper Midwest around the first week of November, and so that means that many farmers in the Midwest only have about two weeks to salvage what they can before everything is lost.  The unprecedented October blizzard that we just witnessed dumped massive amounts of snow on millions upon millions of acres of crops from Colorado to Minnesota.  Even if the weather is absolutely perfect between now and November 1st, farmers are still “expecting massive crop losses”. In fact, one South Dakota lawmaker told the press that the crop losses will be “as devastating as we’ve ever seen”.  And as you will see below, even parts of the Midwest that didn’t get hammered by the recent blizzard are potentially facing “record-low” harvests this year.  We have never seen a year this bad for Midwest farmers in modern American history, but if the weather does not cooperate things could rapidly get much, much worse over the next two weeks.

ANOTHER RAID ORCHESTRATED BY THE OFFICIAL SECTOR

by Harvey Organ, Harvey Organ Blog:

ANOTHER RAID ORCHESTRATED BY THE OFFICIAL SECTOR/BANKERS: GOLD DOWN $13.25 TO $1480/00////SILVER DOWN 30 CENTS TO $17.38//HUGE PAPER WITHDRAWAL FROM THE SLV (2.15 MILLION OZ//)QUEUE JUMPING AT BOTH GOLD AND SILVER COMEX WITH THE GOLD ADVANCE MASSIVE (3/4 OF A TONNE)//CHINA’S CPI ADVANCES HUGELY DUE TO LARGE PRICE GAINS IN PORK//CHINA DEMANDS THE USA TO REMOVE TARIFFS AND THEN CHINA MAY RESUME FOOD PURCHASES (FAT CHANCE)//HOPE FOR A BREXIT DEAL TONIGHT//LEE ADLER PENS THE TRUTH BEHIND THE NEED FOR POMO (QE4) AND THIS IS YOUR MUST READ FOR TONIGHT//MORE SWAMP STORIES FOR YOU TONIGHT

Keiser Report: Will China announce it’s got 20,000 tons of gold? (E1449)

from RT:

In the second half, Max continues his interview with Alasdair Macleod of Goldmoney.com. In this segment, they discuss the rise of China, its large purchases of gold, and Alasdair’s belief that China may one day announce that it has over 20,000 tons of gold. Should Beijing do this, the dollar is toast, he says.

FED REPOS SIGNAL END Of Fiat Federal Reserve Notes

by Wayne Jett, Classial Capital:

For weeks, financial observers have been agitated by astonishingly high sums of Federal Reserve Notes (“hundreds of billions of dollars”) moving from the Federal Reserve to borrowers under lending instruments known as repurchase agreements, or “repos.” On September 17, e.g., the Fed created and loaned $53 billion to unnamed parties and, on September 18, an additional $75 billion. Those two days are the mere tip of the iceberg. Who are the borrowers and why is the Fed providing them so much money?

Fed Set to Launch “Massive” Bond-Buying Program — In Other Words QE

by Peter Schiff, Schiff Gold:

The Federal Reserve is set to begin what MarketWatch article called a “massive” bond-buying program.

Jerome Powell announced the program last Tuesday and the central bank released more details about the plan on Friday. The Federal Reserve will buy $60 billion in short-term Treasury bills each month. According to a statement, the purchases will continue, “at least into the second quarter of next year.” That would amount to around $400 billion worth of Treasurys added to the Fed’s balance sheet.

Historic Midwest Blizzard Has Farmers “Expecting Massive Crop Losses – As Devastating As We’ve Ever Seen”

0

by Michael Snyder, End Of The American Dream:

An unprecedented October blizzard that hit just before harvest time has absolutely devastated farms all across the U.S. heartland.  As you will see below, one state lawmaker in North Dakota is saying that the crop losses will be “as devastating as we’ve ever seen”.  This is the exact scenario that I have been warning about for months, and now it has materialized.  Due to endless rain and horrific flooding early in the year, many farmers in the middle of the country faced very serious delays in getting their crops planted.  So we really needed good weather at the end of the season so that the crops could mature and be harvested in time, and that did not happen.  Instead, the historic blizzard that we just witnessed dumped up to 2 feet of snow from Colorado to Minnesota.  In fact, one city in North Dakota actually got 30 inches of snow.  In the end, this is going to go down as one of the worst crop disasters that the Midwest has ever seen, and ultimately this crisis is going to affect all of us.