Wednesday, November 20, 2019

GOLD REBOUNDS TO SETTLE UP 40 CENTS TO $1228.00/SILVER RETREATS BY 3 CENTS TO $15.57

by Harvey Organ, Harvey Organ Blog:


OPEN INTEREST ON BOTH GOLD AND SILVER RISE DESPITE THE RAID YESTERDAY/ALSO HUGE EFP’S ISSUED FOR BOTH GOLD AND SILVER/RUSSIA DUMPS A MONSTROUS 48 BILLION USA IN TREASURIES AND NO DOUBT WILL BUY GOLD WITH THAT/HUGE DEMAND COMING FROM INDIA FOR SILVER/HOUSING STARTS AND PERMIT ISSUANCE CRASH WITH THE LATEST REPORT/HUGE SWAMP STORIES FOR YOU TONIGHT

The Global Economy Will Collapse On July 20th (For Now Just Get Ready For A MASSIVE RAID On Silver)

from SilverDoctors:

Marshall Swing has been spot-on with all of his calls lately, and if Marshall is correct with his latest call, we have very little time to prepare…

by Marshall Swing of The Church Of Acts

Silver Moving Laterally, Gearing Up For Raid

On a side bar chat with SilverDoctors, Sunday, I indicated having been stopped out and repositioned shorts at higher level after seeing a huge Commercial Repositioning pattern on Friday.

SilverDoctors indicated they saw similar things and noted them in a post Friday and apparently the commenter’s were not happy.  Negative commenter’s are generally not happy or polite because they have little clue as to what is going on near term or what the big picture is in the metals.  All they want is instant gratification coupled with Blue Skies and have little to no patience or manners.

I lost almost a dime an ounce but I would rather lose a dime an ounce 560K times only to make $1.00+ an ounce later from a better position…

What caught me by surprise was the amount of drift allowed to $17.32 from roughly $17.00

When I see a certain number of contracts expended in the Commercials mounting a top then I calculate the width of the drift to set stops.  Didn’t work for me this time but that is quite okay.  You learn from miscalculations and get better.

Appears to be more of a war going on in gold.  If you notice the massive amount of contracts expended today (Wednesday) where the Commercials made a pointed cone, sort of like the Tin Man’s Hat, with a position reversal flag on top,  around 75,000 contracts traded in 90 minutes, in gold, in that space to the flag top today then retreated to exactly the price point from where they came.

Last Friday’s COT showed the Silver Commercials had upped their percentage of shorts from 46% to 56% and since COT close Tuesday January 2 we know they are much higher.  They are as predictable as Hillary and Bill Clinton are crooked.

Looks like we are headed to a fake new year’s full frontal assault on silver, and somewhat gold, as the last quarter corporate sales results come into reporting.  Great (FAKE) economic news spells temporary disaster for the metals and it is always intentional, especially at option exirations.

What those Commercials do is Witchcraft via Blythe Master’s manipulating, sly come hither stare:

Frank Tells It Like It IS

Strictly taboo are the Commercial’s ways courtesy of Blythe, long ago…

Don’t forget her!!!  She is a Blockchain nightmare ready to enter your dreams.

This metal’s lateral movement has all the looks of the same old tricks used to create depression in Small Speculators and Managed Money which tarnishes the allure of gold so various players like the Chinese and Russians can buy gold on the cheap and more importantly so the Elite’s get their fill before the world’s economies are crashed in July.

If you do not know why I say July, then read this:

Global Economic Collapse July 20, 2018 Tish B’av?

As the DOW blows by $26,000 is anyone remembering my friend Martin Armstrong who predicted roughly DOW 30K in the Fall of 2015?  Anybody getting that déjà vous feeling?

At this rate, DOW 30K will happen by late June or early July and right on schedule!

Could it be that something virtually imperceptible caused the Elite’s world economic crash and cashless society to be physically moved from October 24 2015 to Tish B’Av 2018, which is exactly 1000 days?

Read More @ SilverDoctors.com

Prospects for Gold II

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from Hugo Salinas Price, Plata:

In my previous article, “My Views Regarding Prospects for Gold”, published on September 21, I addressed the consequences of the Chinese scheme “to be launched formally by the end of the year, by means of which exporters of oil to China will accept the Chinese currency, the Yuan, in payment for oil; for this deal, the Chinese have added an incentive: the Yuan received by the oil exporters will be exchangeable for gold. This gold will be “sourced”, i.e. “purchased” outside of China, for the oil exporters.”

This scheme – should China effectively carry through on its intentions – is quite revolutionary and likely to have vast consequences which will affect the whole world.

For the first time, since August of 1971- 46 years ago – gold will once again form part of commercial international transactions.

Not only is it a first in 46 years, but the Chinese are linking together both the world’s real money, gold, and the world’s most important commodity, oil, which is the fundamental motor of all the world’s productive activity.

By contrast, it is helpful to consider how the US dealt with the oil-gold nexus in 1971.

By 1970, it was evident to those running the US that it would very soon be necessary to import large quantities of oil from Saudi Arabia. Under the Bretton Woods Agreements of 1945, the immense quantities of Dollars which would shortly flow to Saudi Arabia in payment of their oil would be claims upon US gold, at the time quoted at $35 Dollars an ounce. Those claims would surely deplete the remaining gold held by the US Treasury in short order. It thus became imperative to cut the nexus between gold and the Dollar. Accordingly, on August 15, 1971, the US did just that: the US went “off gold” and continued to pay Dollars for Saudi oil. Kissinger convinced the Saudi that they should deposit their Dollars in the US banking system and hold Dollar Bonds.

The alternative, to continue under the Bretton Woods monetary system, would have meant that the US would have been forced to raise the price of gold to an enormous figure, in order to reduce the amount of gold payable to the Saudi, to a tolerable level. But raising the Dollar price of gold in that manner, would have constituted a great devaluation of the Dollar and collapsed its international prestige; that in turn, would have ended the predominance of the US as the Number One power in the world. The US was not willing to accept that outcome. So, Nixon “closed the gold window” on August 15, 1971.

The Chinese measure, which we have outlined above, will go contrary to the American decision of 1971. It is going to raise, and keep raising the price of gold, through its “oil – for Yuan – for gold” scheme, if and when it is launched as programmed later this year.

China imports about eight million barrels of oil a day. A part of these imports comes from Russia, but the majority comes from the rest of the world’s oil producers. We can estimate that about six million barrels a day arrives in China, from oil producers in various parts of the world, who will find the Chinese offer very tempting. Some will go for the gold, others may hold off.

In the final analysis, we can eliminate calculations of the Dollar price of the barrel of oil, and the Dollar price of gold. The final calculation will have to be the relationship that the world markets establish between oil and gold.

Enormous amounts of oil going to China will have to be paid in gold. An economic balance will be established between those enormous quantities of oil and a relatively tiny amount of gold with which to pay for them. Only the world markets will determine that relationship, but we can see that the intermediate figures in the relationship – the price of oil, the value of gold, the value of the Yuan and the value of the Dollar will all be affected as the economic relationship between vast amounts of oil and scarce amounts of gold is determined.

We can see that the present relationships of the intermediate figures in the oil for gold trade are going to be severely altered: Oil at $50 Dollars a barrel, and gold at $1300 or so Dollars, means that one ounce of gold at $1300 Dollars will purchase 26 barrels of oil at $50 Dollars a barrel. This is a totally unsustainable relationship, if gold is going to be paid for oil.

The present relationship between oil and gold is: 31.1 grams per ounce of gold, divided by 26 barrels = 1.196 grams of gold will purchase one barrel of oil. An unsustainably low purchasing power of gold, vis-a-vis oil. At $13,000 Dollars per gold ounce, one barrel of oil, at $50 Dollars, will be bought with 0.1196 grams of gold; perhaps we may see $13,000/oz gold in the not distant future.

There will be a permanent demand for gold in London – in increasing quantities as more oil exporters decide to receive gold for their oil – and this on-going demand for physical gold will cause a steep and continuing rise in the gold price, as it becomes necessary to adjust the huge amounts of oil delivered to China, to a relatively tiny stock of world gold available for the trade.

It is quite impossible to predict at what relationship the production of oil and the availability of gold will stabilize. But when it does stabilize, we can predict with certainty that the price of gold denominated in Dollars, or in Yuan, will be very much higher, which will mean that both the Dollar and the Yuan will have been severely devalued from their present state.

The establishment of a nexus between, oil, the world’s most important commodity and foundation of the world’s industrial activity, and gold, which is the world’s true money, will overthrow everything which we have taken for granted during the last 46 years.

China’s gold reserves, which serious analysts have calculated at not less than 30,000 tons, plus the gold held by the population (which the Chinese leadership has encouraged it to hold) will increase the wealth and influence of China in the world.

Read More @ Plata.com.mx

The Gold Spec Washout Begins-Craig Hemke (15/05/2018)

by Craig Hemke, Sprott Money:

As we type this on Tuesday the 15th, the price of COMEX Digital Gold is down nearly 2% on the day. This places it under $1,300 per ounce and below its all-important 200-day moving average.

Over the last two weeks, we’ve attempted to summarize the risk of this event through weekly columns that are distributed here by Sprott Money. If you haven’t been following along, you should be sure to review these two posts, as they pretty well encapsulate the goings on today:

https://www.sprottmoney.com/Blog/gold-going-on-sal

https://www.sprottmoney.com/Blog/the-next-rally-in

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

THE DOW TANKS!!/GOLD RISES $9.90 TO $1331.30/ SILVER ADVANCES BY 8 CENTS TO $16.72

by Harvey Organ, Harvey Organ Blog:

HUGE GOLD ISSUANCE OF 15,916 DESPITE THE RAID/SILVER EFP ISSUANCE A HUGE: 5413 CONTRACTS/TWO BIG BELLWETHERS ADD DOOM TO THE MARKETS: A HUGE MARKET SUPPLIER TO APPLE FALTERS AND CATERPILLAR

GATA: Those Who Deny Gold / Silver Manipulation Won’t Answer Basic Questions

by Dave Kranzler, Sprott Money:

For nearly two decades, GATA has seized on Frank Veneroso’s original research which provided first-hand evidence that Central Banks were actively operating to suppress the gold and has presented direct evidence of precious metals manipulation. Beyond this, there are public admissions from Henry Kissinger and Alan Greenspan acknowledging this fact. Unfortunately, those who deny that gold/silver are manipulated have never offered any response to the direct proof that Central Banks intervene directly in gold trading. The article below presenting just the facts was published by GATA.

Newsletter writer Steve Saville of The Speculative Investor, who long has denied that manipulation of the monetary metals markets means much, has seized on the recent essay by Keith Weiner of Monetary Metals as the conclusive refutation of silver market analyst Ted Butler’s longstanding complaint that JPMorganChase has been rigging the silver market.

Weiner’s analysis, headlined “Thoughtful Disagreement with Ted Butler” and posted here – LINK – argued that JPMorganChase is undertaking only ordinary arbitrage in the silver market, exploiting spreads between bid and ask prices.

Saville, in commentary headlined “A Silver Price-Suppression Theory Gets Debunked” – LINK – cheers Weiner’s essay and goes on to remark: “Entering a debate with someone who is incapable of being swayed by evidence that invalidates his position is a waste of time and energy, so these days I devote no commentary space and minimal blog space to debunking the manipulation-centric gold and silver articles that regularly appear.”

But when has Saville himself ever addressed evidence of manipulation of the gold and silver markets? Of course if he declines to address the evidence, he too can’t be swayed by it. The manipulation deniers never address the evidence. [IRD note: this is similar to Hilary Clinton never denying the allegations of corruption – instead she deflected the issue using the scare tactic of blaming the Russians for making the evidence public]

Weiner’s technical analysis is no refutation of silver market manipulation, for even if JPMorganChase is just doing arbitrage in silver, a judgment on manipulation would require knowing for whom the investment house was doing the arbitrage. JPMorganChase’s former chief of commodity operations, Blythe Masters, said on CNBC five years ago that the investment house had no position of its own in silver and was trading only for clients: LINK

So might those clients include governments and central banks, entities with nearly infinite resources sufficient to nullify markets? The question is compelling because filings with the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission by CME Group, operator of the major futures exchanges in the United States, assert that governments and central banks are clients of the exchanges and that the exchanges give them special volume trading discounts for trading all futures contracts, not just financial futures contracts: HERE and HERE

Do Weiner and Saville know that JPMorganChase is not trading silver futures for governments and central banks? Do Weiner and Saville know that governments and central banks are not trading gold and gold derivatives surreptitiously? If Weiner and Saville think they know, they’re wrong, for the Bank for International Settlements admits that it operates as a broker in gold and gold derivatives for its member central banks: BIS admission

Indeed, in 2005 the director of the BIS’ monetary and economic department, William R. White, told a conference at BIS headquarters in Basel, Switzerland, that a primary purpose of international central bank cooperation is “the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful “: LINK

The BIS even advertises that its services to its member central banks include surreptitious interventions in the gold market: LINK

Anyone who wants to engage in honest argument about gold and silver market manipulation needs to address a few simple questions:

1) Are governments and central banks active in the monetary metals markets or not?
2) Are the documents asserting such activity genuine or forgeries?
3) If governments and central banks are active in the monetary metals markets, is it just for fun or is it for policy purposes?
4) If such activity by governments and central banks is for policy purposes, do those purposes involve the traditional objectives of defeating an independent world currency that competes with government currencies and interferes with government control of interest rates, objectives documented at length by GATA here?: LINK

Of course if largely surreptitious intervention in the monetary metals markets by central banks and governments is ever acknowledged, technical analysis of those markets is meaningless, which may explain why technical analysts like Weiner and Saville avoid the crucial questions and just sneer at those who raise them.

Read More @ SprottMoney.com

Supply and Demand in Comex Digital Gold – Craig Hemke (03/07/2019)

by Craig Hemke, Sprott Money:

A few years ago, we wrote the salient article on the subject of derivative supply and demand on Comex. Given the recent price breakout and sentiment change, it’s likely a good idea to re-visit this topic today.

The post from 2017 dealt with Comex silver and the original link is below. However, since it is extremely important that you understand this dynamic, I’m going to ask the folks at Sprott Money to reprint the post in its entirely at the bottom of this page. Please take the time to read and study this full article:

• https://www.sprottmoney.com/Blog/econ-101-silver-m…

While it is important to understand that action on Comex is perhaps only 25% of the entire, global digital derivative pricing scheme, Bullion Bank control of that “market” means that Comex manipulation has an outsized ability to impact price.

Give Thanks and Pass the Jackass

by Turd Ferguson, TF Metals:

In a holiday tradition here at TFMR, our old pal Jim Willie returns today to discuss a wide range of issues with questions posed by listeners in our A2A webinar format.

Following an initial, 30-minute discussion of the significance of the recent events in Saudi Arabia, The Jackass spends nearly an hour fielding questions directly from the audience. Among the topics covered:

  • the growing economic conflict between the US and “the Eurasian Alliance”
  • the Swiss banks and shortages of allocated gold
  • reports of US intervention to allow ISIS terrorists to escape Raqqa
  • that “The Big Reset” has already begun, you likely just haven’t noticed
  • the Saudi Aramco IPO and what it signifies
  • Jim’s preferred asset allocation mix
  • and, in true Jackass free-form style, a whole lot more in between

Click HERE to listen

Read More @ TFMetals.com

ANOTHER STRONG QUEUE JUMPING IN GOLD (AND SILVER) BY THE BANKS AS THEY TRY AND FIND SCARCE PHYSICAL SUPPLIES

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $6.25 TO $1684.75//SILVER UP ONE CENT TO $14.57//ANOTHER STRONG QUEUE JUMPING IN GOLD (AND SILVER) BY THE BANKS AS THEY TRY AND FIND SCARCE PHYSICAL SUPPLIES//GLD ADDS A WHOPPING 6.45 PAPER GOLD TONNES TO ITS INVENTORY//WE WORK TAKEN OVER BY SOFTBANK IN A DEBTOR IN POSSESSION 6.5 BILLION CASH ADVANCE//WEEKEND CHAOS IN 3 CITIES: HONG KONG, BARCELONA AND SANTIAGO CHILE//ANOTHER BREXIT VOTE DELAY//MORE LAYOFFS AT TROUBLED DEUTSCHE BANK//MORE ON THE SYRIAN-TURKISH CONFLICT//TWO IMPORTANT SWAMP STORIES FOR YOU TONIGHT

THE EYE OF THE STORM — Dan Kurz

from SGT Report:

Dan Kurz from DK Analytics joins me to discuss the record debt level of the US government and the nose bleed bubble valuations of stocks and bonds. Dan says, “We’re in the eye of this bubble valuation storm.”

What’s That?! Silver Above $17!!

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by Rory Hall, The Daily Coin:

Following the slight gains from Tuesday it appears something is happening in the “pits” this morning. We are on the brink of the “market” opening and the metals are reaching for the stars.

It appears someone will be fired later this morning for allowing silver to breach the $17 mark. I feel confident that soon after the termination of the Fed Trading Desk “hack” silver, along with gold, will be beaten back into submission. The cartel can’t have people getting all excited about silver making moves above $17 where it has been held captive. We can only hope this is not some mistake and the current gains will hold and we will begin seeing movement to the upside for both the shiny and the yellow metal. Nothing would make us any happier than to see the Fed Trading Desk lose control of this market. I somehow don’t see that happening on a no news Wednesday. especially when we have seen another attack on Syria and the metals market yawned at such an event.