Tuesday, December 11, 2018

These Charts Show the Fed’s Stress Tests as a Dangerous Illusion

by Pam Martens and Russ Martens, Wall Street On Parade:

Sometimes a picture really is worth a thousand words. The charts above show how four of the largest Wall Street banks traded like clones of one another yesterday. Their share prices rallied at almost identical times and the rallies faded at almost identical times. The chart contrasting the trading pattern of JPMorgan Chase and Morgan Stanley is particularly interesting. JPMorgan’s Chase bank has thousands of retail commercial bank branches spread across the United States. Morgan Stanley, on the other hand, has approximately 17,000 retail stockbrokers, now known as financial advisors. What both firms have in common is that they are among the five banks in the country that control a monster pile of derivatives on Wall Street. Ditto for the other two banks illustrated above: Citigroup and Bank of America.

A2A with Dave Kranzler of Investment Research Dynamics

by Turd Ferguson, TF Metals Report:
After a few weeks away, the award-winning webinar series “Access to Access” returns today with an update from our pal, Dave Kranzler of Investment Research Dynamics.

It’s always great to have Dave on as a guest and once again he did not disappoint. Over the course of this 54-minute call, Dave addresses a wide range of topics, including:

the developments today at Tahoe Resources
the current CoT structure and its implications for price
why Mother and her Goons are moving to raise the FF rate
possible gold and silver confiscation
how the mining shares may trade in a general equity bear market
and a whole lot more!
Please be sure to give this a listen and thanks again to Dave for all of his time.

Click HERE to Listen

JULY 7/RAID!!

GOLD: $1210.40 DOWN $13.40 Silver: $15.43 DOWN 53 cent(s)
from Harvey Organ:

In silver, the total open interest SURPRISINGLY ROSE BY A TINY 344 contract(s) UP to 207,805 WITH THE SMALL RISE IN PRICE THAT SILVER DELIVERED WITH YESTERDAY’S TRADING (UP 8 CENT(S) ON TOP OF THE CONSTANT TORMENT THESE PAST FEW WEEKS including today.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0390 BILLION TO BE EXACT or 149{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 292 NOTICE(S) FOR 1,460,000 OZ OF SILVER

In gold, the total comex gold SURPRISINGLY ROSE BY A HUGE 9974 CONTRACTS DESPITE THE TINY RISE IN THE PRICE OF GOLD ($3.40 with YESTERDAY’S TRADING). The total gold OI stands at 472,831 contracts.

we had 3 notice(s) filed upon for 300 oz of gold.

Read More @ Harveyorganblog.com

WAR DRUMS BEAT LOUDER AGAINST NORTH KOREA

EU PARLIAMENT SUSPENDS ACCESSION TALKS WITH TURKEY/MONTE DE PASCHI BAILED OUT AGAIN WITH A 5 BILLION EURO INFUSION
from Harvey Organ:

EARTHQUAKE AT 5.8 IN MONTANA UNDER THE YELLOWSTONE NATIONAL PARK WHICH CONTAINS THE SUPERVOLCANO UNDERGROUND

In silver, the total open interest SURPRISINGLY ROSE BY A HUGE 3,920 contract(s) UP to 207,461 DESPITE THE DRUBBING IN PRICE THAT SILVER TOOK WITH YESTERDAY’S ATTEMPTED RAID (DOWN 18 CENT(S) ON TOP OF THE CONSTANT TORMENT THESE PAST FEW WEEKS.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.037 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 369 NOTICE(S) FOR 1,845,000 OZ OF SILVER

In gold, the total comex gold SURPRISINGLY ROSE BY A HUGE 5.656 CONTRACTS DESPITE THE TINY RISE IN THE PRICE OF GOLD ($2.40 with YESTERDAY’S TRADING). The total gold OI stands at 462,857 contracts.

we had 19 notice(s) filed upon for 1900 oz of gold.

Read More @ Harveyorganblog.com

Financial System of U.S. Rests on Health of Just Five Mega Banks

by Pam Martens and Russ Martens, Wall Street On Parade:
According to the Federal Deposit Insurance Corporation (FDIC), as of March 31, 2017 there were a total of 5,856 banks in the U.S. operating under its Federal deposit insurance umbrella. But according to government financial researchers, five of those banks pose an ongoing material threat to the U.S. financial system. Not surprisingly, those five banks hold insured deposits for savers while simultaneously engaging in highly leveraged, high risk trading on Wall Street.

On June 27, Janet Yellen, the Chair of the U.S. Federal Reserve (the nation’s central bank) spoke at an event at the British Academy in London.

Keiser Report: Anarchy Currencies (E1093)

from RT:

Max and Stacy are in Mexico City, where they ask whether American childhood has taken an authoritarian turn, as posited by The American Conservative magazine. Max also interviews Jeff Berwick of DollarVigilante.com about crypto currencies, anarcho-capitalism and the Mexican business environment.

NORTH KOREA LAUNCHES AN ICBM AND WITH THAT WAR DRUMS BEAT LOUDER/SAUDI ARABIA REJECTS THE QATARI NEW PROPOSAL AND THE BLOCKADE CONTINUES IN THE GULF

SOUTH AFRICA TO NATIONALIZE ITS CENTRAL BANK AND THEN THEY WISH TO CONFISCATE ALL PRIVATE LANDS IN WHITE HANDS
from Harvey Organ:

MOODY’S SET TO DOWNGRADE ILLINOIS TO JUNK DESPITE THEIR BUDGET AGREEMENT/CARMAGEDDON IN THE USA ADVANCES.

In silver, the total open interest SURPRISINGLY ROSE BY 2485 contract(s) UP to 203,541 DESPITE THE DRUBBING IN PRICE THAT SILVER TOOK WITH FRIDAY’S RAID (DOWN 47 CENT(S) ON TOP OF THE CONSTANT TORMENT THESE PAST FEW WEEKS.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0175 BILLION TO BE EXACT or 145{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 397 NOTICE(S) FOR 1,985,000 OZ OF SILVER

In gold, the total comex gold SURPRISINGLY FELL BY ONLY 3,356 CONTRACTS DESPITE THE HUGE FALL IN THE PRICE OF GOLD ($20.80 with FRIDAY’S TRADING). The total gold OI stands at 457,201 contracts.

we had 1 notice(s) filed upon for 100 oz of gold.

Read More @ Harveyorganblog.com

Why Wall Street Should Be Viewed as a Major National Threat

by Pam Martens and Russ Martens, Wall Street On Parade:
The day before the 4th of July, when most Americans were hustling about preparing for family barbecues, the New York Times finally decided to publish an editorial warning about Wall Street’s potential threat to the nation. Unfortunately, it did so with the kind of timidity we see regularly from cowed or compromised Wall Street banking regulators. The editorial writers noted that: “It’s entirely possible that the system is more fragile than the Fed’s stress tests indicate,” and they called for “heightened vigilance of derivatives in particular” without providing any detailed data.

A more accurate assessment of the situation would have been this: There is only one industry in the United States that has twice in a period of less than 100 years brought about a devastating economic crisis in the country. Wild speculation coupled with poor regulation of mega Wall Street banks brought about the Great Depression in the 1930s, leading to massive job losses, bank failures, poverty and economic misery for tens of millions of innocent Americans. The precise same combination of wild speculation and crony regulators created the Wall Street crash of 2008, throwing millions of Americans into unemployment and foreclosure while creating obscene bailouts and bonuses for bankers, and leaving the U.S. with such a low economic growth rate to this day that many Americans feel they are still living in the Great Recession.