Friday, May 27, 2022

Andrew Hoffman – Janet Yellen’s Moment of “Truth”

by Kerry Lutz, Financial Survival Network:
What’s Really Happening Wednesdays with Andrew Hoffman:

Following last week’s “Operation July 4th week silver slam,” historically undervalued PM prices
Historic valuation anomalies – platinum/gold, silver/gold, numismatics
Today’s article, “silver versus the base metals bubble, Part II – Silver now undervalued versus everything!”
Whirlybird Janet’s Congressional economic testimony
Why is she lying through her teeth? And who doesn’t realize this yet?
Update – They do now, given her massively dovish prepared remarks!
Breaking down of fraudulent financial and market memes, everywhere!
Bitcoin “civil war” – and what it means.

Click HERE to Listen

Silver Expected to Rally

by Clive Maund, Streetwise Reports:
This could be an optimum time to buy silver and high-quality silver stocks, says technical analyst Clive Maund, as he expects a sizeable silver rally to ensue.
June is silver’s worst month of the year by far, on a seasonal basis, and its price dropped significantly this June. However, we are now well into July, and July is seasonally silver’s 2nd best month of the year, and as the month got off to a bad start, it is reasonable to expect things to look up, especially as silver put in what looks like a high-volume Reversal Day on Friday, when it broke down below support but then got back above it later in the day.

We can see silver’s dive into what looks like a capitulative high volume Reversal Day on Friday to advantage on its 6-month chart, and the chance of its having hit bottom is increased by the fact that there was a full moon at the weekend.

Must See Video

1

by Turd Ferguson, TF Metals Report:
A few moments ago on Fox Business Channel we heard someone proclaim that “given all that’s going on the world, gold should probably be $5,000 to $6,000 per ounce”. Who actually had the gall to say this on live television? You won’t believe it unless you see it for yourself.

So, here you go. This is Neil Cavuto discussing the “markets” with Terry Duffy, the one and only CEO of the CME Group. The first five minutes are the standard boilerplate of Fed policy, etc and blahblahblah. However, at the 4:55 mark, Cavuto asks:

“But we haven’t seen money move into the metals….what is going on there?”
To which Duffy answers:…….

GOLD & SILVER MARKET: Four Interesting Developments

by Steve St. Angelo, SRSRocco Report:
There are four interesting developments taking place in the gold and silver market that precious metals investors should be aware of. While Americans continue to place all the BETS in the CASINO called Wall Street, via stocks, bonds and real estate, the EAST has been acquiring record amounts of gold and silver. Furthermore, something interesting seems to have changed recently in the Silver Eagle sales market.

FIRST DEVELOPMENT: Let’s start off with showing the stunning amount of silver India imported in May. According to Smaulgld.com, India imported nearly 2,000{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} more silver in May 2017 vs May 2016:

Mechanics of the Shanghai International Gold Exchange

by BullionStar, via Gold Seek:
In September 2014, the Shanghai Gold Exchange (SGE) established a physical gold trading and custody platform aimed at international gold investors, launching this platform as the “Shanghai International Gold Exchange (SGEI)“.

The Shanghai International Gold Exchange can be viewed in a number of ways. Organizationally, the SGEI it is a fully-owned subsidiary of the SGE and is registered in the Shanghai Pilot Free Trade Zone (FTZ)[1]. The SGEI’s offices are also located in the Shanghai Pilot FTZ in the Bank of China Tower, 200 Yincheng Road Central, Pudong, in Shanghai.

From a trading perspective, SGEI refers to the “International Board” of the Exchange. On this Board, a number of physical gold contracts (products) specifically designed for international gold investors are listed and traded. Since these products are physically delivered gold contracts, the SGEI infrastructure also encompasses a certified precious metals vault where the physical metal backing this gold trading is stored. This SGEI certified vault is also located in the Shanghai Pilot FTZ and is ring-fenced from the SGE’s network of gold vaults that serve the domestic Chinese gold market. The gold in the SGEI vault can be freely imported into and exported from the FTZ since the FTZ is deemed to be outside of China for customs purposes.

VISA takes its War on Cash to US Retailers

by Wolf Richter, Wolf Street:
Forget “legal tender.”

“We’re focused on putting cash out of business,” Visa’s new CEO Al Kelly said on June 22 at Visa Investor Day. Pushing consumers into digital and electronic payments is the company’s “number-one growth lever.” Visa has been dogged by the stubborn survival of cash and checks, despite widespread government and corporate efforts to kill them off.

Globally, check and cash transactions totaled $17 trillion in 2016, Visa President Ryan McInerney said. Confusingly, that’s up 2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from a year earlier.

So today, Visa rolled out a new initiative on its war on cash. It’s designed “for small business restaurants, cafés, or food truck owners,” and the like. In this trial, it will award up to $10,000 each to 50 eligible businesses (online businesses are excluded) when they commit to refusing cash payments.

GOLD UP $4.20/SILVER UP 15 CENTS/AMOUNT STANDING AT THE SILVER COMEX RISES AGAIN/HUGE AMOUNT OF GOLD LEAVES THE REGISTERED (DEALER) ACCOUNT

SLV WITNESSES ANOTHER 1.986 MILLION OZ ADDED TODAY/IN THE LAST 3 DAYS 7.281 MILLION OZ “ADDED”
from Harvey Organ:

CANADA RAISES RATES BUT DATA SEEMS TO SUGGEST THE COUNTRY IS IN BIG TROUBLE/YELLEN VERY DOVISH IN HER HUMPHREY HAWKINS TESTIMONY/HARTFORD CT DEBT IS NOW JUNK

In silver, the total open interest SLIGHTLY FELL BY 360 contract(s) DOWN to 207,592 DESPITE THE RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 7 CENT(S). WE AGAIN MUST HAVE HAD NEW SPECS TRYING TO COVER THEIR NEW FOUND SHORTS WITH THE COMMERCIALS BOTH COVERING AND ALSO GOING LONG. THE NET EFFECT A TINY DROP IN OI. SOMETHING YESTERDAY FRIGHTENED THE SHORTS FROM BOTH SIDES OF THE ISLE TO COVER

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: 145 NOTICE(S) FOR 725,000 OZ OF SILVER

In gold, the total comex gold FELL BY 3,998 CONTRACTS DESPITE THE RISE IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S TRADING). The total gold OI stands at 475,669 contracts. SOMETHING FRIGHTENED THE GOLD SHORTS TO COMMENCE COVERING.

we had 0 notice(s) filed upon for 0 oz of gold.

Read More @ Harveyorganblog.com

Silver Fundamentals Vs. The Base Metal Bubble Part ll-Silver Undervalued Against Everything Now!

by Andy Hoffman, Miles Franklin:
Yesterday, we learned that Donald Trump Jr. was allegedly involved in secret meetings with a Russian lawyer last year, in an alleged attempt to obtain anti-Hillary information. This, as Trump’s snot-nosed, silver spoon son-in-law, Jared Kushner – a mere 36 years old – was collaborating with Qatarian sheiks whilst Saudi Arabia “coincidentally” declared economic war on it – under the ultimate “pot calling the kettle black” insinuation that Qatar funds terrorism. To which, I can only say, how ridiculous is it that the President’s family is involved in such blatant conflict of interest activities; and doubly so, how screwed up has America’s increasingly Banana Republic political system become? Which I only state, to demonstrate how painstakingly obvious the need for portfolio insurance has become – at a time, no less, when historic market manipulation has not only produced “dotcom valuations in a Great Depression Era,” but the most undervalued Precious Metal prices – on an inflation-adjusted basis – ever.

U.S. House Financial Services Committee Needs New Leadership

by Pam Martens and Russ Martens, Wall Street On Parade:
When members of the U.S. House Financial Services Committee question Fed Chair Janet Yellen this morning following her testimony on monetary policy, many Republicans on the panel will be posturing for their money masters who fund their political campaigns rather than asking questions that benefit the average American.

You can tell that there has been a Koch Network-corporate takeover of the House Financial Services Committee by the statement that its Chairman, Jeb Hensarling, plastered on the front page of the Committee’s web site following the heroic actions of the Director of the Consumer Financial Protection Bureau, Richard Cordray, on Monday. Cordray reopened the nation’s courts to millions of Americans who have been the victims of predatory actions by the banks that fund Hensarling’s seat in Congress.

What’s next for the dollar, stocks, bonds and gold?

by Axel Merk, GoldSeek:

The Fed’s “balance sheet reduction” may have profound implications for the dollar, gold, stocks and bonds. We’ll provide an outlook.

It is said forecasts are difficult, especially when they relate to the future. Investors might want to pay attention nonetheless, not so much because I believe I have a crystal ball, but because investing is about managing risk. And there’s a risk that I’m right.

Quantitative Tightening
There’s a lot to cover, so let’s start with what is perceived to be the elephant in the room, the Fed. In suggesting that the Fed would soon initiate balance sheet reduction, Fed Chair Janet Yellen indicated it would be like watching paint dry on a wall. Duly observant, numerous pundits agreed. With due respect, that’s a bunch of baloney, but judge for yourself. Unless markets fall apart in the coming weeks, we expect that the formal announcement for the Fed’s balance sheet reduction will be made this September, with a gradual stepping up in the amount the Fed will allow to “run off”, i.e. the amount of maturing bonds it won’t re-invest. The Fed has left many details open to interpretation, but looking at Treasuries alone, at first, $6 billion may be allowed to run off; this is gradually stepped up until $30 billion a month may be allowed to run off. It’s not clear at what duration maturing bonds will be reinvested that are above the threshold, but it is plausible to roll those excesses to “fill the gaps” in subsequent months. Differently said, it’s perfectly possible that the Fed will indeed allow $30 billion in Treasuries to run off once the program is fully deployed:

Timeline to Collapse: The End of Market Rigging, Money Fraud, Political & Moral Secrets | Rob Kirby

from Reluctant Preppers:

Rob Kirby, outspoken commentator, proprietary analyst and founder of KirbyAnalytics.com returns to Reluctant Preppers to spell out the timeline to collapse. Kirby explains how intervention in our capital markets has been rampant, our cash system is a crack-house, and why it needs to be busted. Kirby further argues that those who have denied it, perpetrated it, and prolonged it must be outed, and the natural law allowed to restore truthful and just money, to protect world peace. Kirby pulls no punches.