Tuesday, November 19, 2019

3RD CONSECUTIVE RAID ATTEMPT BY OUR BANKERS FAILED WITH RESPECT TO GOLD AND SILVER

by Harvey Organ, Harvey Organ Blog:

OPEN INTEREST IN SILVER CONTINUES TO FALL DESPITE THE RISE IN PRICE WHICH INDICATES BANKER CAPITULATION/GLD STOPS ITS BLEEDING OF GOLD ANS INVENTORIES RISE BY 4.14 TONNES/CHINA ANNOUNCES A HALT TO ALL IMPORTS CONTAINING COAL, IRON, IRON ORE AND SEAFOOD FROM NORTH KOREA/ THE UKRAINE IS THE SOURCE OF ENGINES ON THOSE NORTH KOREAN MISSILES: AND THE UKRAINE IS AN ALLY OF THE USA?

GOLD: $1284.70  DOWN $3.10

Silver: $17.14  up 6 cent(s)

Closing access prices:

Gold $1282.20

silver: $17.08

SHANGHAI GOLD FIX:  FIRST FIX  10 15 PM EST  (2:15 SHANGHAI LOCAL TIME)

SECOND FIX:  2:15 AM EST  (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1292.87 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1287.85

PREMIUM FIRST FIX:  $5.02

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SECOND SHANGHAI GOLD FIX: $1290.15

NY GOLD PRICE AT THE EXACT SAME TIME: $1285.70

Premium of Shanghai 2nd fix/NY:$4.45

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LONDON FIRST GOLD FIX:  5:30 am est  $1281.10

NY PRICING AT THE EXACT SAME TIME: $1281.95 

LONDON SECOND GOLD FIX  10 AM: $1282.30

NY PRICING AT THE EXACT SAME TIME. $1282.30 

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 34 NOTICE(S) FOR  3400  OZ.

TOTAL NOTICES SO FAR: 4521 FOR 452,100 OZ (14.062 TONNES) 

For silver:

AUGUST

 

 20 NOTICES FILED TODAY FOR

 

100,000  OZ/

Total number of notices filed so far this month: 830 for 4,150,000 oz

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end

 

 

Today, the bankers tried to raid both gold and silver for the third consecutive day and failed again.  The open interest in silver continues to fall despite a rise in price and it sure looks like banker capitulation as they try to extricate themselves from their mess. Another good indicator of trouble for our bankers is that the bleeding of gold has stopped  (physical gold supplying Eastern countries e.g. China, Russia and Turkey). Today 4.14 tonnes of gold was added to inventories. SLV showed no gain or loss of silver inventory.

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY A HUGE4967 contracts from 194,445 down to 189,478 DESPITE THE  RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO FRIDAY’S TRADING (UP 4 CENT(S) AND THE FAILED RAID. SIMPLE EXPLANATION: THE BANKERS HAVE CAPITULATED….THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE HAVING EXTREME DIFFICULTY IN SUPPLYING ADDITIONAL SHORT PAPER AND LONGS CONTINUE TO ADVANCE TAKING ON THE BANKER SHORTS. THE BATTLE OF WATERLOO WILL BE FAST APPROACHING

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.947 BILLION TO BE EXACT or 135{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 20 NOTICE(S) FOR 100,000OZ OF SILVER

In gold, the open interest ROSE by A CONSIDERABLE 5,002 WITH the RISE in price of gold ($4.10 GAIN ON FRIDAY.)  The new OI for the gold complex rests at 480,915.  IN COMPLETE CONTRAST TO SILVER, THE BANKERS SUPPLIED THE MASSIVE AMOUNT OF PAPER SHORT GOLD WHICH WAS GOBBLED UP BY THE LONGS.  THE NEWBIE SPEC SHORTS HAVE NO DOUBT COVERED THEIR SHORT POSITION BY NOW.  I WROTE THE FOLLOWING TO MY FRIENDS OVER THE WEEKEND: “WE MUST BE COGNIZANT OF ANOTHER RAID THIS COMING WEEK AS THE OI FOR GOLD IS EXTREMELY HIGH AND THE NOOSE IS AROUND THEIR NECKS IN SILVER.”  THE CROOKS DID NOT TAKE LONG TO INITIATE ANOTHER RAID TODAY

we had: 34 notice(s) filed upon for 3400 oz of gold.

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

GLD:

Today, a big change in gold inventory: a deposit of 4.14 tonnes into the GLD

Inventory rests tonight: 791.01 tonnes

 

IN THE LAST 21 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $45.85 . 

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 335.825 MILLION OZ

 

end

.

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

1. Today, we had the open interest in silver FALL BY  4,967 contracts from 194,445 DOWN TO 189,478 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL RISE IN PRICE AND FOR THE FIRST TIME WE ARE WITNESSING BANKER CAPITULATION.  BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN AND WILLING TO TAKE ON OUR CROOKED BANKERS. 

(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

i)Late SUNDAY night/MONDAY morning: Shanghai closed UP 28.92 POINTS OR 0.90{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}   / /Hang Sang CLOSED UP 366.72 POINTS OR 1.36{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} The Nikkei closed DOWN 192.64 POINTS OR .98{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.61{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6720/Oil DOWN to 48.49 dollars per barrel for WTI and 51.72 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades  6.6874 yuan to the dollar vs 6.6720 for onshore yuan. NOW THE OFFSHORE IS WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY

Read More @ HarveyOrganBlog.com

Money Laundering Scandal at Australia’s Largest Bank Triggers Another Call for Ban of Cash

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by Mish Shedlock, Mish Talk:

Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges.

Money laundering is big business in Australia because regulations do not cover lawyers, real estate agents, accountants, and CEOs ignoring warnings from police.

Despite the obvious problem, it’s cash itself that gets the blame.

There are several stories here buts let’s start with Australia’s Biggest Bank Says CEO Will Retire Amid Money-Laundering Scandal.

Commonwealth Bank of Australia Chief Executive Officer Ian Narev will step down by the end of June 2018 as the nation’s largest lender seeks to mitigate the fallout from a money-laundering scandal.

Pressure is building on Commonwealth Bank amid allegations by the nation’s financial crimes agency that drug syndicates used its network of deposit machines to launder cash, despite warnings from police. The nation’s securities regulator opened its own inquiry last week and the governor of the central bank called for accountability in the banking industry, which is beset by a string of scandals.

Narev, 50, has presided over a market-topping stock price since he took the helm at the start of December 2011. Last week, he delivered the lender’s eighth consecutive record profit.

His achievements have been overshadowed by the money-laundering allegations — the third major public-relations scandal he has faced as CEO. The bank has paid A$29 million ($23 million) in compensation to customers who were allegedly given poor financial advice, and has faced accusations it wrongly failed to honor insurance claims to sick clients.

The financial crime agency, Austrac, alleges that Commonwealth Bank failed to report either on time or at all suspicious transactions through its network of automated cash deposit machines totaling more than A$624 million, and it failed to monitor the activities of drug syndicates even after being alerted by police. The bank has blamed most of the breaches on a software coding error which has since been fixed.

The allegations are the latest in a series of scandals in Australia’s banking industry, ranging from giving poor advice to wealth-management customers to allegations the nation’s three other biggest banks manipulated a benchmark swap rate.

Moral of the Story

With share prices high after three scandals, the moral of the story must be CEO crimes pay. What other lesson could there possibly be?

Australia a ‘Place of Choice’ for Money Laundering

Please consider Australia a ‘place of choice’ for money laundering due to lack of regulation.

Australia’s hot property market is an attractive haven for criminals, with estimates that billions of dollars of dirty money is being laundered through residential property.

Australia’s anti-money laundering law does not cover real estate agents, lawyers and accountants, despite promises when the law was enacted in 2006 that the legislation would be widened.

ANZ’s head of financial crime, Guy Boyd, is scathing of the failure of subsequent governments to extend the legislation.

Australia’s housing market has been targeted by money launderers from countries including Papua New Guinea, Malaysia and China.

Read More @ MishTalk.com

SDR, Assimilation and Crushing the Banksters

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from The Daily Coin

Editors Note – The real “meat of the matter” lies within the supporting articles, documents and interviews that are hyperlinked throughout this article and the articles linked are loaded with additional hyperlinks. I would encourage the use of all links.

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As a lot of you know, Lynette Zang has been under fire after the interview with SGTReport about the ACChain being tied to the SDR. There have been several people to argue that she is 100{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} wrong and made videos showing what an SDR is, “calling the IMF”, having roundtable discussions and a variety of other attacks from former hard asset community members turned digital profiteers. The question I have is this – when was the last time a policy, bill or law was implemented then shelved and never used for it’s intended purpose? How many of these people have discussed the SDR with the Chief of the SDR or read any of the documents surrounding, not only the Original SDR but the M-SDR? I would venture to say very few or zero. SDR’s have been sitting in a basket since their inception and have not been used for their intended purpose. That, however, is changing.

As we discussed in 2016 the SDR is coming to the table and it will fulfill its intended purpose – when that will happen is the next question. Building puzzles takes time and, it appears, another large piece of the puzzle has been put into place with the development of the ACChain.

World Bank explains further

“This is a landmark development for China’s bond market and for the SDR as an international reserve asset,” said World Bank Group President Jim Yong Kim. “We are very pleased to support China’s growing role in global financial markets. World Bank issuance of SDR bonds in China will support the G-20’s objective of expanding the use of SDRs and help promote the development of China’s domestic capital market. It will also increase Chinese investors’ access to foreign currencies in the domestic bond market, while opening up new opportunities for international investors seeking high-quality investment products in the country.” [emphasis added]

In 2016 China was approved to join the SDR basket of currencies and was also approved to issue the M-SDR bond valued in Renminbi. The initial offering was oversold by 2.5 times the offering – not unusual, but shows people are interested. This means the M-SDR is now out in the market place. Where does it go from here? What are China’s plans, with this M-SDR priced in Renminbi?

This was another, very strong, indication of what is on the horizon and will be unfolding. We are seeing some of the unfolding right now – it happens everyday, its just some days experience bigger moves than others.

As we have reported over the past several weeks the Federal Reserve Note (FRN), a.k.a. U.S. dollar, is on life support. The changes that are currently in motion, combined with the policy changes that have been approved, will assure the FRN will no longer be the world reserve currency and this will have a direct impact on you, your family and your wealth. As was stated recently by China’s President, Xi Jingping, it is time for action and time to stop talking.

The next five weeks will mark one of the most significant transformations in the international monetary system in over 30 years. Source

 

Has anyone bothered to review what has been put in place over the past several years in regards to “freeing” the SDR and moving this monetary nightmare into the global monetary system? Apparently not too many, however, several people are all the sudden some kind of expert on the subject. I am not an expert on SDR’s and do not claim to be. I have, however, dedicated hundreds of hours and tens of thousands of words to research on the subject and feel comfortable in my analysis.

When I interviewed Dr. Warren Coats in 2016, Chief of the SDR, we covered some of the ground that he had been developing and discussing for several years, if not several decades, regarding the use of the SDR at the global level. Did I mention Dr. Coats was the Chief of the SDR at the IMF?

Dr. Warren Coats served on the IMF from 1976 to 2003. He became chief of the Special Drawing Rights (SDR) division in 1983 and remained until he retired. Dr. Coats has more experience with the SDR than anyone else on planet earth. He also knows a little something about currencies after working with well over twenty different countries to either strengthen their currency or develop a new currency. Dr. Coats understands gold and understands gold as money. Source

The SDR has been sitting quietly in the corner awaiting its turn in the spotlight. There will be no grand entrance as that is not how the IMF nor China wishes for this to unfold. Bring as little attention to this situation as possible and simply make it part of everyday life. Or as George Carlin said – Nobody seems to notice, nobody seems to care.

In another article we penned on this subject we noted:

As Dr. Coates describes it in Larry White’s latest article:

“I fully agree that short of a real crisis, developing and expanding the role and use of the SDR will be a gradual step by step process. The development of private SDRs, for example, requires no decisions by the IMF at all if the existing currency basket is used. This was the topic of my “Asian Infrastructure Investment Bank and the SDR” article.”  —-  Warren Coats

I would ask anyone that questions the SDR’s role in the new ACChain to please re-read the above underlined statement. It may have some bearing on the current arguments that the IMF has not approved the SDR to be used with the ACChain. M-SDR’s are that “private SDR” Dr. Coats references above.

This is part of the overall scheme, as was stated by the World Bank – China is being used, as was the original intent, to bring SDR’s to the citizens and have them folded into the current monetary system with little fanfare and no one really paying attention. By doing so, the current monetary system can be circumvented with almost zero noticeable change to the system.

As the IMF recently stated as one of the goals of de-cashing the nations, globally, was to create scenarios where no one even questions what is happening because they do not realize what is happening and they awaken one morning and the cash is all gone. This new system will assist in making that happen – right under your nose. Who’s excited about the cryptocurrency market? “WOW. I just became a gazillionaire with my shiny new fiat, based-on-faith, backed-by-nothing digital blips on a screen. WoooHoooo” I haven’t heard anything like that recently, have you? “Precious metals suck and I have lost soooooo much money on gold and silver.” Haven’t heard anything like that either, have you? I would argue this is part of the assimilation process, part of the enslavement process to suck more funds out of precious metals and into the new system of enslavement instead of a real system that has been proven to break the backs of the banking cabal throughout all of history.  Since when did a “new currency” break the backs of the banking cabal? Gold, and only gold, has proven to have the fortitude to create real change and crush the banksters.

As we learned in a recent interview conducted by SGTReport, Brad Peters, Sr. Software Engineer, Intel, clearly shows the SDR as part of the code within the ACChain. No it does show any ties to the IMF, which is not a requirement, but it clearly shows the SDR, which is the real issue that Lynette Zang was bringing to the table during the SGTReport interview just a day prior to the conversation with Brad Peters. jsnip4 also made a video in an attempt to dispel what Ms. Zang had stated. jsnip4, Joe, “called the IMF” to ask about this ACChain and the IMF explained to him they knew nothing about it. Well, why would they when it is not necessary to have the IMF approve the use of the SDR in this manner? Did anyone bother to even think the SDR in the code of the ACChain is tied to the M-SDR bond issued by China and can be freely issued by China? It would appear not.

The conversation continues and I still know that gold is part of the current monetary systemand will be part of the future monetary system. What role it will play is yet unknown, but as I have stated time and again, China is not acquiring tons of gold to create more jewelry or produce more coins. The Belt and Road Initiative is not planning on having gold as payment across the “heartland” because they trust nations to do the right thing with their currency. Gold is money and everything else – EVERYTHING ELSE – is credit.

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Read More @ TheDailyCoin.com

Gerald Celente on Markets: “When Interest Rates Go Up, This Thing Goes Down”

by Mike Gleason, Money Metals:

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.

Coming up the one and only Gerald Celente of the Trends Journal and one of the top trends forecaster in the world joins me for an explosive interview on the dollar, the growing tensions with North Korea and a wildcard that he sees driving a big run in gold. You will not want to miss an incredible interview with Gerald Celente, coming up after this week’s market update.

Well, the invincible U.S. stock market finally came under some selling pressure this week as tensions between the United States and North Korea flared up. Bombastic threats from Kim Jong-un to strike the U.S. military outpost of Guam were met with elevated rhetoric from President Donald Trump and Defense Secretary James Mattis. They warned the North Korean regime that it would be wiped out if it initiated an attack or continued making threats.

As concerned investors sold equities on Thursday, precious metals markets received some significant safe-haven inflows. Gold is up 2.0{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} this week to bring spot prices to $1,286 an ounce as of this Friday morning recording and pushing toward its high for the year at just under $1,300. Silver shows a weekly gain of 4.8{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} and now trades at $17.09 per ounce. That’s a 7-week high.

The platinum group metals are also on the move, with platinum up 2.0{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} to $990 an ounce and palladium up 2.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} to $899.

Yesterday’s big outperformance in metals has gold bulls eyeing a possible trend change in the Dow to gold ratio. Since mid 2011, blue chip stocks have been trending higher relative to the yellow metal. The Dow-gold ratio has risen from just under 6 to 1 to a high of just under 18 to 1 last month.

That’s still far below the secular high in the ratio from 2000. But it’s also far above the secular low of 1 to 1 seen in 1980. So, there is plenty of room for a major move in the ratio to commence.

Looking at the Dow and the gold market individually, both seem ripe for major moves. In the case of the Dow, the most remarkable feature of this summer’s rally to record highs was vanishing volatility. Day after day prices would inch up in narrow trading ranges.

Extreme lows on the VIX volatility index are unsustainable for very long. And volatility finally came back with a vengeance on Thursday with the Dow dropping 200 points.

In the case of gold, volatility has also been muted in recent months. Even the gold mining stocks, which are notorious for their wild swings, settled into a narrow sideways trading range. But the precious metals sector now appears poised to break out of its summer doldrums to the upside.

It’s too early to call a definitive breakout until gold prices actually close strongly above the $1,300 resistance level. If and when that happens, bulls would be back in the driver’s seat.

And it could be just the beginning of a major trend change in the Dow to gold ratio that lasts for years – with gold outperforming the Dow. That’s why it’s definitely not too late for investors to move some wealth out of the seemingly expensive stock market and into physical precious metals.

As we’ve seen this week, it’s not just gold that stands to benefit when equities go out of favor. The more thinly traded white metals of silver, platinum, and palladium can gain even more dramatically when investors seek hard assets.

Successful investors have to think about which trends are exhausted and which ones may just be getting started. Successful investors don’t try to catch exact tops and bottoms, but they do rotate out of old positions and into new ones as opportunities present. They also diversify their holdings to avoid being too heavily concentrated in any one asset.

Click HERE to listen.

Read More @ MoneyMetals.com

Keith Neumeyer Discusses Silver One Resources

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by Turd Ferguson, TF Metals:

A few days ago, we took the time to visit once again with Keith Neumeyer, president and CEO of First Majestic Silver. In addition to providing a full update on the state of the silver market, Keith shares some insight into a company in which he has an interest as a shareholder, Silver One Resources.

Over the course of this call, Keith discusses:

  • The latest developments in the silver market and his forecast into the remainder of 2017
  • How mining companies manage their costs and currency exposure in an attempt to widen margins
  • Why he thinks Silver One is such an intriguing investment opportunity

Silver One is listed in Canada with the symbol SVE and in the US under the symbol SLVRF.

Click HERE to listen.

Read More @ TFMetals.com