Friday, July 19, 2019

GOLD AND SILVER REBOUND DURING PHYSICAL TIME ZONES AND DURING COMEX TIMES BUT WHACKED AGAIN DURING ACCESS TIME ZONES (NON PHYSICAL)

by Harvey Organ, Harvey Organ Blog:

GOLD OI CLIMBS BY 11,000 CONTRACTS WHEREAS SILVER OI HARDLY BUDGES/TRUMP BASICALLY LAUNCHES A TRADE WAR WITH CHINA AND RUSSIA/THE EU READY TO RETALIATE AGAINST THE USA RUSSIAN SANCTIONS/ADD NOW TURKEY TO THE GROWING LIST OF COUNTRIES BUYING MASSIVE AMOUNTS OF PHYSICAL GOLD: TURKEY LAST MONTH 68.4 TONNES WHICH IS ABSOLUTELY HUGE!!/IN THE USA, 2018 LOOKS LIKE ANOTHER 30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} RISE IN OBAMACARE PREMIUMS: BELIEVE IT OR NOT THEY ARE BLAMING TRUMP!!

In silver, the total open interest FELL BY A TINY 358 contracts from 207,643 DOWN TO 207,258 WITH NO GAIN IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 0 CENT(S). WHEN YOU COMPARE THE HUGE GAIN IN OI FOR GOLD THEN YOU MUST ADMIT THAT IT SURE LOOKS LIKE BOTH THE SPECULATOR SHORTS AND THE BANKER SHORTS ARE HAVING SEVERE PROBLEMS TRYING TO COVER THEIR SHORTFALL WHICH CANNOT COME TO FRUITION. THE LONGS REMAIN STOIC AND NOTHING WILL BUDGE OUR SILVER LEAVES FROM DEPARTING OUR SILVER TREE. YESTERDAY’S TRADING IS EVIDENCE OF THAT

 In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.038 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 107 NOTICE(S) FOR 535,000OZ OF SILVER

In gold, the open interest ROSE by A MONSTROUS 11,747 with the RISE in price of gold ($4.95 yesterday.)  The new OI for the gold complex rests at 448,709. Yesterday we had the bankers supplying a major amount of short paper to newbie longs who entered the arena like gangbusters.  The specs shorts covered but at a higher price.No wonder a raid was orchestrated overnight with the intention of cooling gold’s jets. It seems that the raid failed again.  The bankers are losing control over the precious metal markets

we had: 193 notice(s) filed upon for 19,300 oz of gold.

Read More @ HarveyOrganBlog.com

Seymour Hersh Cracks ‘RussiaGate’ as CIA-Planted Lie, Revenge Against Trump

by Eric Zuesse, Global Research:

During the later portion of a phone-call, by the world’s greatest investigative journalist, Seymour Hersh, Hersh has now presented “a narrative [from his investigation] of how that whole f**king thing began,” including who actually is behind the ‘RussiaGate’ lies, and of why they are spreading these lies. 

In a youtube video upload-dated August 1st, he reveals from his inside FBI and Washington DC Police Department sources — now, long before the Justice Department’s Special Counsel Robert Mueller will be presenting his official ‘findings’ to the nation — that the charges that Russia had anything to do with the leaks from the DNC and Hillary Clinton’s campaign to Wikileaks, that those charges spread by the press, were a CIA-planted lie, and that what Wikileaks had gotten was only leaks (including at least from the murdered DNC-staffer Seth Rich), and were not from any outsider (including ’the Russians’), but that Rich didn’t get killed for that, but was instead shot in the back during a brutal robbery, which occurred in the high-crime DC neighborhood where he lived. Here is the video, and here is the transcript of it: 

Seymour Hersh

I’ll tell you what I know:

(Mumble) comes off an FBI report, don’t ask me how, I can figure out, I’ve been around long enough:

The kid gets — I don’t think he [Seth Rich] was murdered [because of this] I don’t think he was murdered because of what he knew, the kid was a nice boy, 27, he was not an ITS person, he learned stuff, he was a data-programmer, but he learned stuff, and so he was living on one street, somewhere, he was living in a very rough neighborhood, and in the exact area where he lived, there had been about, I am sure you know, there had been about 8 or 9 or 10, violent robberies, most of them with somebody brandishing a gun, and I am sure you know, his [the kid’s] hands were marked up, the cops concluded [HERSH SAW THE POLICE REPORT] he fought off the people, he tried to run, and they shot him twice in the back with a 22, small-caliber, and then the kid that did it ran, he got scared.

So, the cops do this, here’s what nobody knows, what I am telling you, now maybe you do know something about it: When you have a death like that, DC cops, as you’re [dealing now with a person who is] dead, you generally don’t zip and go, yep I know, what’s the motive, what’s going on, you have to get to the kid’s apartment and see what you can find.

If he’s dead, you don’t need a warrant, but most cops get a warrant because they don’t know if the guy has a roommate, so they get a warrant, I’m just telling you, there is such a thing. They go in and can’t do much with his computer, [to find the] password, the cops don’t know much about it, so the cops have a cyber unit in DC, and they’re more sophisticated, they come in and look at it. The idea is maybe he has had a series of exchanges with somebody who said ‘I am going to kill you motherfucker’ over a girl, and they can’t get in, the cyber guys are a little better, but they can’t make sense of it, so they call the FBI cyber unit.

The DC unit, the Russian[-monitoring] and field office is a hot-shit unit. The guy running the Washington field office, he’s like a three-star at an army-base, he’s ready [mumble], you know what I mean, he’s going to do a top job. There’s a cyber unit there that’s excellent. What you get in a warrant, the public information you get in a warrant doesn’t include the affidavits underlying why you are going in, what the reason was.

 That’s almost never available, I can tell you that — the thesis of a warrant as a public document 99{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the time. So they call in the feds, the feds get through, and here’s what they find [HERSH SAW THE FBI REPORT]. This is according to the FBI report. What they find is, first of all you have to know some basic facts, one of the basic facts is there is no DNC or protected email that exists beyond May 22nd, the last email from either one of those groups. So, what the report says, is: 

(2:50-) At some time in late spring, which we’re talking about in June 21st, I don’t know, just late spring early summer, he makes contact with Wikileaks, that’s in his computer, and he makes contact. Now, I have to be careful because I met Julian [Assange] in Europe ten twelve years [ago], I stay the fuck away from people like that. He has invited me and when I am in London, I always get a message, ‘come see me at the Ecuadorean’ [Embassy], and I am fucking not going there. I have enough trouble without getting photographed. He’s under total surveillance by everybody. 

They found, what he had done, he [Seth Rich] had submitted a series of documents, emails from DNC — and, by the way, all this shit about the DNC, you know, was it a ‘hack’ or wasn’t it a ‘hack’ — whatever happened, it was the Democrats themselves wrote this shit, you know what I mean? All I know is that, he offered a sample, he sends a sample, you know, I am sure dozens of emails, and said ‘I want money’. Later Wikileaks did get the password [SETH RICH DID SELL WIKILEAKS ACCESS INTO HIS COMPUTER.] He had a drop-box, a [password-]protected drop-box, which isn’t hard to do. I mean you don’t have to be a whiz at IT [information technology], he was not a dumb kid. They got access to the drop-box. This is all from the FBI report.

 He also let people know with whom he was dealing, I don’t know how he dealt, I’ll tell you all about Wikileaks in a second, with Wikileaks the mechanism, but according to the FBI report, he shared his box with a couple of friends, so ‘If anything happens to me, it’s not going to solve your problem’, okay? I don’t know what that means. But, anyway, Wikileaks got access. And, before he was killed, I can tell you right now, [Obama’s CIA Director John] Brennan’s an asshole. I’ve known all these people for years, Clapper is sort of a better guy but no rocket-scientist, the NSA guys are fuckin’ morons, and the trouble with all those guys is, the only way they’ll get hired by SAIC, is if they’ll deliver some [government] contracts, it’s the only reason they stayed in. With Trump, they’re gone, they’re going to live on their pension, they’re not going to make it [to great wealth]. I’ve gotta to tell you, guys in that job, they don’t want to live on their pension. They want to be on [corporate] boards like their [mumble] thousand bucks [cut]. 

I have somebody on the inside, you know I’ve been around a long time, somebody who will go and read a file for me, who, this person is unbelievably accurate and careful, he’s a very high-level guy, he’ll do a favor, you’re just going to have to trust me, I have what they call in my business, long-form journalism, I have a narrative, of how that whole fucking thing began.

(5:50-)

It’s a Brennan operation. It was an American disinformation, and the fucking President, at one point when they even started telling the press — they were back[ground]-briefing the press, the head of the NSA was going and telling the press, the fucking cocksucker Rogers, telling the press that we [they] even know who in the Russian military intelligence service leaked it. All bullshit.

Read More @ GlobalResearch.ca

Can Germany Be Made Great Again?

1

by Antonius Aquinas, via Market Oracle:

When Germany Was Great!

Ever since the start of the deliberately conceived “migrant crisis,” orchestrated by NWO elites, the news out of Germany has been, to say the least, horrific.  Right before the eyes of the world, a country is being demographically destroyed through a coercive plan of mass migration.  The intended consequences of this – financial strain, widespread crime and property destruction, the breakdown of German culture – will continue to worsen if things are not turned around.

Opposition to the societal destruction within Germany have been harassed and persecuted by the authorities and labeled by the mass media with the usual epithets: “far right,” neo-Nazi, “haters,” and heaven forbid, “separatists.”  Because of this and other factors, there has been no mass movement, as of yet, that has coalesce to challenge the German political establishment.

A possible reversal of German fortunes, however, has come from a recent poll of Bavarians.*

A survey conducted by YouGov, a market research company, found that 32{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of Bavarians agreed with the statement that Bavaria “should be independent from Germany.”  This percentage has increased from 25{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of secession-minded Bavarians when polled in 2011.

Of the some 2000 surveyed between June 24 and July 5, most supporters ofindependence come from the southern portions of the country.

Whether Bavarians or their fellow German separatists realize it or not, the only “political” solution to the migrant crisis is secession.  This is not only true for Germany, but for all Western nation states swamped with unwanted migrants.  Once free from the domination of the national government (and just as important the EU), each jurisdiction could make its own immigration policy and would be better able to control population influx at the local level.

Historically, Germany’s past has much more in common with a decentralized political landscape than with a unitary state.  From the disintegration of the Roman Empire until Napoleon wantonly abolished the Holy Roman Empire in 1806, Germany was an amalgam of different political units – kingdoms, duchies, confederacies, free cities, etc.  With no grand central state, there was considerable freedom and economic growth as each sovereign entity was largely able to conduct its affairs on its own terms.

Decentralized political power is also conducive for the advancement of culture.  Music, the highest art form, found some of its greatest expression from the German peoples.  And, the monumental figures of Western music were financed in large measure by German princes, kings, and emperors.  Johann Sebastian Bach’s sublime Brandenburg concertos were underwritten, so to speak, by Christian Ludwig, Margrave of Brandenburg while Beethoven received support from Archduke Rudolph.  Mozart was funded no less by the Austrian emperor himself, Joseph II.

Political decentralization provides an important mechanism as a check on state power.  A multitude of governments prevents individual state aggrandizement as oppressed populations can “vote with their feet” and move to safer and less repressive regimes.  A unitary state, or just a few, throughout the world would negate such an advantage.

Naturally, if nation states are a constant threat to the liberties and economic well being of their citizens, global organizations and states are that much more of a danger and should always and everywhere be opposed.  The European Union, largely based on the principles of the US Constitution, has pressured nations under their sway, such as Germany, to accept the migrants and has threatened members such as Hungary and Poland with penalties if they do not do their fair share.

Read More @ MarketOrackle.co.uk

Europe’s Banking Dysfunction Worsens

0

from Chris Whalen, Daily Reckoning

“While the US and the UK have been mired in political chaos this year, the EU has enjoyed improved economic conditions and some political windfalls. The question now is whether this good news will inspire long-needed EU and eurozone reforms, or merely fuel complacency – and thus set the stage for another crisis down the road.”

Philippe Legrain
Project Syndicate

This week The Institutional Risk Analyst takes a look at recent reports out of the EU regarding a proposal to “freeze” the retail accounts of failing European banks.  The original story in Reuters suggests that our friends in Europe actually think that telling the public that they will not have access to their funds, even funds covered by official deposit insurance schemes, is somehow helpful to addressing Europe’s troubled banking system.  Investors who think that Europe is close to adopting an effective approach to dealing with failing banks may want to think again.

Judging by the reaction to the story by investors and on social media, it appears that the EU has learned nothing about managing public confidence when it comes to the banking sector.  In particular, the idea that the banking public – who generally fall well-below the maximum deposit insurance limit – would ever be denied access to cash virtually ensures that deposit runs and wider contagion will occur in Europe next time a depository institution gets into trouble.

“The plan, if agreed, would contrast with legislative proposals made by the European Commission in November that aimed to strengthen supervisors’ powers to suspend withdrawals,” Reuters reports, “but excluded from the moratorium insured depositors, which under EU rules are those below 100,000 euros ($117,000).

While some Wall Street analysts are encouraging investors to jump into EU bank stocks, the fact is that there remains nearly €1 trillion in bad loans within the European banking system.  This represents 6.7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the EU economy, according to a report and action plan considered by EU finance ministers earlier this month.  That compares with non-performing loans (NPL) ratios in the US and Japan of 1.7 per cent and 1.6 per cent of gross domestic product, respectively.

But the most basic point to make about the proposal for a “temporary” suspension of access to cash is that such moves never work.  Moratoria are part of the banking laws in Germany and many other European nations, but they are never used because once invoked the institution is dead for all practical purposes.  In Spain, for example, the government had the power to impose a temporary suspension of access to deposits in the case of Banco Popular, but did not do so because it would have killed the franchise.

Jochen Sanio, the former president of the German Federal Financial Supervisory Authority (BaFin), commented about banks subject to “temporary” deposit moratoria that “they never come back.”  Sanio, who guided Germany through the 2008 financial crisis and forced the clean-up of insolvent state-owned banks, was retired and gagged for the rest of his life for challenging Germany’s corrupt political status quo of covert bailouts.

So again, one has to wonder, why any responsible official in Europe would support the plan reported by Reuters.  As the US learned the hard way in the 1930s and with the S&L crisis in the 1980s, the lack of a robust national deposit insurance function to protect retail depositors leaves an entire society vulnerable to banks runs and debt deflation.  Until the EU is prepared to do “whatever is necessary,” to paraphrase ECB chief Mario Draghi, in order to protect retail bank depositors, the EU will remain far from being a united political economy.

Readers may recall the comments of German Chancellor Angela Merkel last Fall, when she suggested that the German government would not support Deutsche Bank AG (NYSE:DB) in the event that the institution got into financial trouble.  At the time, DB was trading at about $12 per share in New York.  We spoke about DB and the ill-considered comments made by US and German officials from Dublin on CNBC on September 30th.

At the time, we reminded investors that political officials should never talk about a depository institution while it is still open for business.  This is a basic, well-recognized rule that has been followed by prudential regulators around the world for many years.  Yet because of the popular political pressures on elected officials such as Merkel, the temptation to engage in absurd hyperbole with respect to big banks is irresistible.

We see this latest piece of news out of Europe as further evidence that there is still no political consensus about how to deal with troubled banks.  As we learned last year, Merkel could not even make positive public comments about DB for fear of committing political suicide.

The more recent bank resolutions in Spain and Italy were made to look like touch measures in public terms, even as the Rome government quietly subsidized the senior creditors of two failed banks in the Veneto.  We noted in an earlier comment, “Fade the Great Rotation into Europe,” that the EU pretends to play tough on bank rules while bailing out the senior creditors:

Read More @ DailyReckoning.com

Sanctions against China, Russia, Iran and North Korea. Part of a Global Military Agenda. Pentagon’s World War III Scenario

by Prof Michel Chossudovsky, Global Research

Washington announced sweeping sanctions to be imposed on three countries: Russia, Iran and North Korea, following the US House of Representatives vote to impose a three countries’ sanctions “package”.  

While the justifications are diverse and unrelated, all three countries are from a military and geopolitical standpoint on the US nuclear “hit list”. They are considered as de facto rogue states, enemies of America.

The Congressional bill invoked respectively Tehran’s support of terrorism, Russia’s meddling in the 2016 presidential elections, and North Korea’s ICBM missile tests.

The pretexts with regard to Russia and Iran are largely fabricated. The main sponsor of  Islamic terrorism is US intelligence.

The “package sanctions regime” is intimately related to the Deep State military agenda. Moreover it is worth noting that the legislation included a (rather dangerous) clause to “disapprove of any moves the president makes to end the sanctions… and build a better relationship with Russian President Vladimir Putin.”

This clause is visibly intended by the neocon hawks in Washington to constrain the powers of the White House. In the words of Paul Craig Roberts, they intend to “Put Trump in a box.”

The Congressional bill still requires the endorsement of President Trump, who might exercise his veto.

The China Sanctions Regime

While China was excluded from the Congressional three countries’ “package”, Washington formally intimated in early July that sanctions would also be imposed on China in response to China’s increased bilateral commodity trade with North Korea.

Read More @ GlobalResearch.ca

Turkey, Russia and Interesting New Balkan Geopolitics

0

from F. William Engdahl, New Eastern Outlook

The geopolitical template of the entire European Union is undergoing one of its most profound changes since the collapse of the Soviet Union more than twenty-five years ago. At the June 30 meeting in Ankara of the Turkish-Hungarian Business Forum Hungary’s Prime Minister Viktor Orbán stated that Hungary “stands by its friends” and it is on Turkey’s side in its current war of words with the European Union. The Hungarian Prime Minister also praised Turkey’s role in preventing a huge further refugee flow into the EU, noting that “Without Turkey Europe would have been flooded with many millions of immigrants,” stating that for this Turkey “deserves respect.” Behind the comments, calculated to enrage the EU and its unelected, faceless bureaucrats, stands far more than the issue of refugees and rights of national sovereignty.

There’s a major tectonic shift underway not only in Hungary but also across the entire Balkans. The shift involves Erdogan’s Turkey and also Putin’s Russia. The outlines of a new Balkans geopolitics are emerging and it’s opening huge fault-lines within the EU between die-hard NATO Atlanticists and pragmatic EU states more keen on economic development and the health and safety of their countries than in defending a bankrupt declining USA Superpower.

Hungarian Prime Minister Orbán was in Turkey for no casual photo op. He was there to talk business, economic business. He brought with him half of his cabinet and around 70 business leaders to discuss areas of increased bilateral economic cooperation. Orbán also met privately with Turkish President Erdogan and Prime Minister Binali Yildirim.

Energy Hub for Southeast Europe

Though it was played down in media releases, a central issue discussed in Ankara was the prospect of Russian natural gas imports via Turkey’s Turkish Stream gas pipeline.

With the legally dubious new US sanctions bill targeting European companies investing in the Russian-German Nord Stream II gas pipeline, which would bypass Ukraine, Russia is accelerating its priority to complete construction of its Turkish Stream gas pipeline from the already-built gas pumping station near Anapa in Southern Russia, going beneath the Black Sea, that will pass through Turkey to the Bulgarian and perhaps Greek borders.

The latest incredibly foolish US Congressional sanctions, aiming as well at Iran and North Korea, punish German and Austrian companies investing in the northern EU Nord Stream II pipeline from near St Petersburg, claiming it’s illegal under international law for a US President to sanction companies outside their territorial jurisdiction, legally termed extra-territoriality.

The announcement of new sanctions aimed at Nord Stream II has led Russia to accelerate laying of its Black Sea Turkish Stream line, currently running ahead of plan. Gazprom contractor Swiss Allseas has laid about 15 miles of the pipeline under the Black Sea since May. The first of two parallel pipelines is due to open in March 2018, the second in 1919. The annual capacity of each leg is estimated to reach 15.75 billion cubic meters of natural gas or a total of almost 32 bcm for both.

Here is where things get interesting.

Balkans Joining Turkish Stream

In early July newly elected Bulgarian Prime Minister Boyko Borisov announced that he intended to sign an agreement on transit of gas from the Russian-Turkish Turkish Stream pipeline. He also signed an agreement with neighbor Serbia, not an EU member– and not likely ever to become one because of her strong ties with Russia among other things. Under the new agreement, Serbia will ultimately receive 10 billion cubic meters of Gazprom Turkish gas.

On June 29 as Prime Minister Aleksandar Vučić took the office of Serbian President, Ana Brnabic became Prime Minister. She told Parliament that she would seek a “balanced foreign policy” and her government would especially seek good relations with Russia and China. Serbia’s new Defense Minister, Alexandar Vulin, was bitterly opposed by Washington among other things for his known pro-Russian orientation. Aleksandar Vučić himself met with Vladimir Putin the week before his election as President and reaffirmed the close relations between Russia and Serbia.

On July 5, Hungary’s government also signed an agreement to receive gas from Turkish stream. Earlier this year Russia’s President went to Budapest where he and Prime Minister Orbán discussed Hungarian participation in Turkish Stream as well as Russian construction of nuclear plants in Hungary.

At the World Oil Congress on July 9-11 in Istanbul Turkish President Recep Tayyip Erdoğan made clear that Turkey aims to become an energy hub between east and west, north and south. In short all the elements of a major new realignment are coming together between Balkan states, Russia and Turkey.

Turkish Stream

In December 2014 after the Brussels EU Commission, backed by Washington, pressured the Bulgarian government to cancel the agreement to land Gazprom gas via the South Stream pipeline to the Bulgarian port of Burgas, Russian President Putin announced that South Stream was dead. At the same time Russia began negotiations with Turkey on the Turkish Stream alternative.

To avoid punitive EU laws, Gazprom’s Turkish Stream pipeline passing through Turkey will end at the Turkish-Bulgarian border, with the second possibly ending at Lüleburgaz in the Marmara region of Turkey, close to Turkey’s border with Greece. From there it would be up to the purchasing countries to contract their own pipelines and construct them for the use of the Turkish Stream. EU law forbids Gazprom from building and operating its own gas pipelines inside the EU.

The Baltic Shift

In recent months as Brussels EU policies become more and more onerous, the countries of eastern Europe, especially Hungary, Czech Republic and Bulgaria have turned their sights eastward to Eurasia and especially Russia and China and their growing infrastructure investments in OBOR and other Eurasian infrastructure networks.

In February 2017 during a visit of Russian President Putin to Budapest, Hungary signed a $17 billion contract with the Rosatom Group, Russia’s state nuclear power company for construction of two reactors at Paks Nuclear Power Station, the only nuclear plant in the country. Russia also has 51{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} stake in a Czech project company, Nuclear Power Alliance, together with Czech Skoda JS that will bid for several planned Czech nuclear plants. The latest Czech national energy plan views nuclear electricity as a safe way to meet EU CO2 emission reduction targets as does Hungary.

The Turkish government has also chosen Russia’s Rosatom to build its first nuclear power plant, the Akkuyu NPP, with four reactors near the Mediterranean in southern Turkey across from Cyprus. The first unit costing $20 billion is being built by a Russian-Turkish consortium together with the Turkish construction group, Cengiz-Kalyon-Kolin (CKK). It will be operational in 2023.

Today, as the USA and most of Western Europe have frozen investment in nuclear power technology and has lost qualified trained manpower, Russia emerges as the world leader in export of nuclear technology with over 60{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the global market.

Areva, Europe’s largest nuclear plant producer based in France has not won a foreign contract since 2007. In the USA Westinghouse, the largest US nuclear plant provider historically, has undergone troubling times to put it mildly. The Pittsburg group’s nuclear power business was sold and today is owned by Japan’s Toshiba group. The Westinghouse nuclear group, which recently contracted to supply four new domestic US plants, their first in thirty years, is plagued by cost overruns and law suits and Westinghouse Electric has been forced to declare bankruptcy. Russia by contrast currently has contracts to build 34 reactors in 13 countries, with an estimated total value of $300 billion. ix

Read More @ NEO.org

SENATOR LINDSAY GRAHAM: “USA IS PREPARED TO STRIKE NORTH KOREA”/GOLD UP $4.95 BUT SILVER FLAT

by Harvey Organ, Harvey Organ Blog

GOLD AND SILVER EQUITY SHARES FALL AGAIN/CHAOS RUNS SUPREME IN VENEZUELA/USA SANCTIONS ONLY MADURO SO FAR/GENERAL MOTORS REPORTS HUGE DROP IN AUTOS/ALSO USA REPORTS BIG DROP IN CONSTRUCTION SPENDING

In silver, the total open interest surprisingly  ROSE BY 862 contracts from 206,781 up to 207,643 WITH THE GOOD RISE IN PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 9 CENT(S). IT SURE LOOKS LIKE BOTH THE SPECULATOR SHORTS AND THE BANKER SHORTS ARE HAVING SEVERE PROBLEMS TRYING TO COVER THEIR SHORTFALL BUT IT IS TO NO AVAIL. THE LONGS REMAIN STOIC AND NOTHING WILL BUDGE OUR SILVER LEAVES FROM DEPARTING OUR SILVER TREE. TODAY’S TRADING IS EVIDENCE OF THAT

 In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.038 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 71 NOTICE(S) FOR 355,000OZ OF SILVER

In gold, the open interest fell by 2,686 with the fall in price of gold to the tune of $1.60 yesterday.  The new OI for the gold complex rests at 436,962. Yesterday we had some banker short covering but it was minimal and this was accompanied by some longs entering the arena sensing danger due to the firing of that ICBM missile by North Korea. The shorts tried their best on the last day of options expiry to nullify any gains from option traders. The result a small open interest fall with that fall in price.

we had, ON second DAY NOTICE: 1309 notice(s) filed upon for 130,900 oz of gold.

Read More @ HarveyOrganBlog.com

Letters from India: How Bad Can the Crackdown on Cash and Tax Evasion Get? What’s Next?

by Mish Shedlock, Mish Talk

Reader “IB” an India businessman, writes about the crackdown on cash and tax evasion by Prime Minister Narendra Modi.

“IB” is very concerned about recent events, as well he should be.

Background for this story started on November 8, 2016, when Modi stunned the country with an announcement that 500-rupee ($7.30) and 1,000-rupee notes, which account for more than 85 percent of the money supply, would cease to be legal tender immediately. For details, please see Cash Chaos in India, 86{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of Money in Circulation Withdrawn; Cash Still King in Japan.

The crackdown on cash has hurt the poor the most, and likely the richest the least. Nonetheless, Modi has widespread popular support.

Modi’s latest set of mandates has small businessmen caught in the crossfire. Let’s tune into to an email from “IB” (India Businessman) for some details.

Hi Mish,

I am writing from Mumbai, India. I have been running a small business for a decade now. Since the business has been profitable we have also been paying tax as applicable. But with the introduction of Goods and Services Tax (GST) in India from July 1, 2017, it looks like business might start experiencing difficulties soon due to its plethora of rules, some of which are mind-bogglingly inane.

More than the tax rates, it is the implementation and the draconian measures that have been taken by the Government that has made me come to this conclusion. Given that the incumbent government has been winning elections despite steps like demonetization and the opposition is in complete disarray (Modi is a great orator), they have been emboldened to introduce measures that would be viewed as draconian by normal standards. In this context, I have to mention Modi has been able to mesmerize voters to an extent that he can make even pain appear as something that is pleasurable and he has been able to conquer state after state and has an invincible aura about him now. Such acts always bring Goebbels to my mind.

I am attaching an article that highlights three steps (of the many) that have been introduced in GST that I feel would impact businesses negatively.

Thanks for your time.

Regards,
IB

New Rules

“IB” emailed a lengthy document describing new rules. What follows is a short list of three key points that I condensed from the document.

  1. The government will not allow Input Tax Credit on GST paid to vendors if the vendors do not pay their own taxes. The issue here is the Modi is forcing the role of tax-enforcement on businesses who buy goods for resale.
  2. Tax payments are required every month. For all cash businesses, there is no problem. There is a huge problem for those who have to pay taxes on receivables, in advance, when the business owners might not even get paid. Liquidity will kill many small businesses.
  3. Modi now wants three tax filings every month plus an annual tax return making it 37 overall. Currently, businesses file service tax returns twice in a year while they pay their taxes every quarter. Now with GST, small businesses have to file 3 returns every month, month on month, year on year, with fines stipulated for non-compliance.

All Hail Modi

The Economic Times reports PM Narendra Modi steps up assault on Congress, eyes Indian supremacy

Prime Minister Narendra Modi’s ruling alliance is stepping up its assault on the opposition Congress party as it looks to expand its national dominance and moves closer to securing a majority in the upper house of parliament.

How to Destroy an Economy

This is the path that populist fools take to gain control and destroy economies.

When tax collections actually go into reverse as businesses fail, Modi will come up with another set of ill-advised reforms, perhaps a total ban on cash.

All it takes is a Congressional majority and Modi can and will do what he wants.

In all likelihood, Modi’s enemies will soon be silenced for the “good of society”.

Read More @ MishTalk.com

War Is Right Around The Corner: Russia Mobilizes Three Motorized Rifle Division “Strike Forces” In Preparation For Rapid Offensive Assault On Ukraine

by Jeremiah Johnson, SHTFPlan

“Signing a bill that sanctions Russia would mark a significant shift for Trump. He’s repeatedly cast doubt on the conclusion of U.S. intelligence agencies that Russia sought to tip the election in his favor. The president also has pushed for cooperation between Moscow and Washington on various matters, such as counterterrorism and the conflict in Syria, and more sanctions against Russia could imperil that effort.

Trump’s persistent overtures to Russia drove lawmakers to include a section that mandates a congressional review if Trump attempted to suspend or terminate the sanctions on Moscow. The White House had objected to the review requirement, arguing it would infringe on the president’s executive authority and tie his hands as he explores avenues of communication between the two former Cold War foes.”

“Vast support for Russia sanctions quashes potential for veto”

Richard Lardner, Associated Press 7-25-17

As I wrote in the beginning of the year, the first six months in office make or break a president by setting the tempo for the remainder of his term.  The President has not been effective in any area, and he has pulled a complete 180-degree shift in dealing with Russia.  After they met in the G-20 summit, relations between the President and Vladimir Putin have steadily declined.

Now we have a Congress who has long desired to go to war with Russia, and a President who is ineffective at every turn.  Obamacare will not be repealed, the border fence is a fiasco, and the Democrats (aided by the pseudo-Republicans) are doing the “Rope-a-Dope” on the President.  They are bouncing off the actions he takes akin to Ali on the ropes and making continuous counterattacks of their own.  Domestically, the President has not lost control because he never had it, and now the shadow government that is hidden behind the pseudo-Congress and the moneyed interests that support it are pushing the United States into a war with Russia.

It’s worse than merely a consortium seeking expansion of empire and all the attached perks.  Look at this excerpt:

“The U.S. is actively considering whether or not to arm Ukrainian forces in their war with Russian-backed insurgents in the east, the new U.S. envoy for Ukraine told the BBC.  Fresh from his first official tour in his new role, during which he claimed to be “astonished” with the “hot war” he had seen in the east, Kurt Volker said in an interview on Tuesday that arming Ukrainian troops could shift Moscow’s tactic but would not be provocative.

“Defensive weapons, ones that would allow Ukraine to defend itself, and to take out tanks for example, would actually stop Russia threatening Ukraine,” Volker said. “I’m not again predicting where we go on this, that’s a matter for further discussion and decision, but I think that argument that it would be provocative to Russia or emboldening of Ukraine is just getting it backwards,” he added

Despite initial concern that Trump’s sympathies for Russian President Vladimir Putin could compromise the U.S.’s position on Ukraine, there has been virtually no change in Washington’s approach to Kiev since the administration came into office.

Members of Trump’s Republican Party—historically in favor of using more kinetic combat means to neuter any expansive visions the Kremlin may have—are rallying around a call for a more hardline policy.

“Vladimir Putin’s violent campaign to destabilize and dismember the sovereign nation of Ukraine will not stop unless and until he meets a strong and determined response,” McCain, chairman of the Senate Armed Services Committee told Trump in February.”

“Trump Wants to Arm Ukraine Against Russia, Says New U.S. Special Envoy” Damien Sharkov, Newsweek, 7-25-17

So, this “envoy,” Volker is labeling anti-tank and anti-armor weaponry as “defensive” to “take out tanks” and denying any provocative actions on the part of Ukraine or for the U.S. government to supply it.  Russia already informed the U.S. (then Obama) government that any arms sent to Ukraine would be considered an act of war.

Please take note again of the origin of the last comment in the excerpt, the source is underlined:

“Vladimir Putin’s violent campaign to destabilize and dismember the sovereign nation of Ukraine will not stop unless and until he meets a strong and determined response,” McCain, chairman of the Senate Armed Services Committee told Trump in February.”

McCain.  The same McCain who destabilized Ukraine in the first place, along with Victoria Nuland and Senator Lindsay Graham.  And just in case McCain’s brain illness keeps him from his agenda?  Guess who Kurt Volker is?                                 Here, taken straight out of Wikipedia:

“Volker served as a legislative fellow on the staff of Senator John McCain from 1997 to 1998.”

That’s right.  Volker was on McCain’s staff.  Read the rest of it.  He was appointed by Tillerson to his current post as the Special Representative to Ukraine, but he’s basically a State Department “creature” with plenty of liberal-arts education and propaganda, with no military experience and little in the field of diplomacy.  Still, he has been employed by large lobbying firms and multinational corporations, so he should “do well” for himself.  It is obvious that the “baton” was passed from McCain’s hand to Volker’s, and all that transpires will be a continuance in Ukraine from the Obama years.

The IMF/NATO hegemony really want to kick things off badly in Eastern Ukraine.  That’ll be the excuse to go to war with Russia, a nation that believes in a first-strike as a deterrence and believes a first strike to be a defensive measure.  The problem is the United States is provoking Russia into a response.  The military equipment was already signed off to be delivered to the Kiev government last year by Congress for use against the Separatists rebels of the Eastern provinces, to be delivered this year.

The Russians are not taking it lying down.  Sharkov of Newsweek penned another article, entitled Russian Army Arrives at Ukraine Border as U.S. Fears Over ‘Hot War’ Simmer, and here is that article, as it is short:

“As the bloody standoff in Ukraine reaches its annual apex month for violence, Kiev claims Russia is sending more troops near its borders, while the Kremlin has snapped back that it has every right to do so.

Relations between both countries have deteriorated significantly since Russia annexed Crimea from Ukraine in 2014; it has since backed separatist militants in Ukraine’s border regions. However, Moscow has not officially declared war on Kiev and continues to deny official involvement in the fighting on the ground.

Speaking during a military conference, captured in a Facebook video and posted on the military’s official account on Sunday, Ukrainian Chief of General Staff Viktor Muzhenko said his forces had observed new moves on the Russian side of the border.

“The organizational and staff structure, the arms and the military equipment that is approaching for reinforcement, indicates that these Russian divisions are striking forces in their essence and are intended for carrying out rapid offensive actions,” he said.

The units in question, Muzhenko specified, were three motorized rifle divisions, two of which are usually headquartered at the borders of Ukraine’s war-torn Donbass region and one that is usually deployed further north, near Smolensk.

Russian troops have previously dug in near the Ukrainian border, including near separatist-held lands, at times of impending fighting. Observers regularly record peaks in cease-fire violations during August.”

Pretty serious.  Three motorized rifle divisions, tasked and trained for performing rapid, strike-force, offensive operations.  Look at what is going on in the region for a taste of what is to come: the “hot spots” I have previously focused upon in other articles of Ukraine, North Korea, and Syria.  The bottom line here is that although the reins of power are in someone else’s hands besides Obama, the establishment is the real power behind the throne (with examples of McCain formerly and his protégé Volker).  That establishment is marching on with their own globalist agenda.  Domestically the country is still trying to shake the ring of Obamacare out of its nose…and this has been unsuccessful.

Read More @ SHTFPlan.com