Thursday, October 6, 2022

Gold May Be On The Cusp Of A Big Upward Price Reset

by Dave Kranzler, Investment Research Dynamics:

Precious metals investors may be getting an unexpected Christmas present this year, beginning with the sudden $25 jump in gold on Tuesday and Wednesday. From what I’m hearing, a shortage of physically deliverable gold is developing in London. In fact, Alasdair Macleod and Egon von Greyerz have both alluded to this development.

The action this past week fits the information. Given the size of the derivative short position (futures, LBMA forwards, leased gold, OTC derivatives, hypothecated gold) in London and New York, if obligated counterparties begin to default on delivery demands, the precious metals sector could become explosive next year.

Michael Ballanger: A Violent Move Higher In Gold & Silver Prices Is Indeed Coming

by Michael Ballanger, Silver Doctors:

I shall pass along my thoughts on the tenth anniversary of the 2008 bank bailouts, currency chaos and the un-precious metals in no particular order and with no specific agenda. More important, I want to pay tribute to a writer whose work I truly love, Rolling Stone magazine’s Matt Taibbi. Taibbi’s work reminds me of an era-gone-by when reporters actually reported and where “fake news” was at the least an excuse for the originator to be blackballed from the journalistic fraternity and at the worst a jail sentence. The senior editors in the newspaper business demanded that their reporters verified facts by way of constant scrutinization of sources while chasing down leads for days on end in order to allow something controversial to hit the media screens. Matt covered the “Great Financial Crisis” ten years ago and immediately after that, he was the chap that nicknamed Goldman Sacks “a great vampire squid” whose claim to fame and prosperity was how it was “wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

2017, The Year of the Truth Bomb! (Part 1)

by Bill Holter, Miles Franklin:

Here we are at the end of 2017 with more “truth bombs” released than I could have imagined!  In fact, I believe we probably received more “truth” in just one year than collectively in all of human history.  This is a sad statement because it also means we have lived behind more lies than at any time prior.  Also surprising is none individually have cracked the dam called “confidence”.  But do not be fooled as it looks as if the entire dam is moving, particularly in the last few weeks!

As we have stressed all year long and prior, our entire lifestyle relies on credit …and credit relies on confidence.  The “truth bomb” thesis from the very beginning came from our belief that confidence will break once enough lies are fully and obviously exposed showing our entire lives (standard of living) as a fallacy.  The global standard of living has evolved hand in hand with the credit bubble, it will also deflate hand in hand as the bubble pops.  “Truth” will be the catalyst!

The topic is so broad it had to be broken down into 3 (possibly 4?)parts.  Our goal is to build categories from individual stories shedding light for you the reader to connect dots.  During the year, we heard from readers asking “why” we discuss, politics, the rule of law, geopolitics/international tensions rather than sticking to economics, finance, and ultimately silver/gold?  The answer is simple, as the various lies are exposed and the dominoes begin to fall, each truth will create a drop in confidence and push more and more capital out of the rigged casinos toward “safety”.  It is human nature to pull in your horns and go back to basics when trust becomes and issue.  Another way to say this is for “scared” money, all roads will lead toward gold and silver because they ARE “trust” on their own.  The road to silver and gold are paved with many broken promises …which truth bombs are in the process of fully exposing!

Yes I fully expect to hear from trolls and even the well meaning, “gold and silver are rigged and suppressed, why will capital gravitate there”?  This is also simple, and in reality the “core” to all of the rigging.  Gold and silver are money themselves and thus direct competition to government “issued” currency.  Metals have no “promise” or liability attached to them to be “trusted”.  When confidence breaks, even more unimaginable truths of all sorts will come forth as they always do when the tide goes out.  Capital will move away from investments that require “trusting” someone else to perform.  Physical gold and silver supplies will be overwhelmed exposing the ultimate truth …there is nowhere near the amounts of physical gold and silver available as depicted by the paper markets!  THIS fraud is the ultimate truth bomb they must desperately prevent from coming forth!

Before we get started, this link http://educateinspirechange.org/alternative-news/dont-believe-conspiracies-58-admitted-false-flag-attacks/ is interesting because many “conspiracy theories” in the past and going back many years have already been outed to ho hum response.  No one has cared because their lives were not impacted and the revelations were made many many years after the fact.  The current truth bombs are different, because they expose the current or recent day events.  They are basically real time and will be met with real time anger.  These truths cover nearly all facets of everyday life and in many cases are 180 degrees from what is present belief and “proper protocol”.

To start, let’s look at “government” and I believe there is no better place to start than where the rock started rolling downhill to begin with …911 (yes I know, JFK’s assassination was the real starting line).  This is not a new topic and has been covered by many over the years.  The thing is this, 911 will become a lightning rod once other “conspiracies” and “out there thought” is exposed as hard fact.  To many, 911 is a bridge too far mentally to arrive at even if the hard evidence points 100% to controlled demolitions.  Once the masses begin to see hard proof and extent of the evil that exists and has existed in so many other areas, the “leap” in thought of 911 will be like stepping out of bed in the morning.  Building #7 is the most obvious.  This two year study was released in Sept.  https://www.youtube.com/watch?v=fRkgIV8U9f0  Please watch, the information cannot be argued with.

Government

The following links are only briefly commented on due to the huge volume:

It has been this way for years but is only realized now …you are not supposed to think for yourself?…https://www.wsj.com/articles/the-google-facebook-duopoly-threatens-diversity-of-thought-1513642519  The gates of hell will open if we think for ourselves!

Is there any “level” the Japanese government (or any other govt. for that matter) will spill true beans?

http://insider.foxnews.com/2017/02/08/unimaginable-levels-radiation-fukushima-pacific-ocean-leaks

Or Russia?  http://thedailycoin.org/2017/11/21/fears-major-nuclear-accident-reuters-radioactivity-levels-surged-1000-times-normal-russia/

This is still speculation at this point and not widely dispersed but if true, is a biggie!  http://phibetaiota.net/2017/11/worth-a-look-proof-positive-of-blue-lasers-starting-fires/

Would the IRS or any other alphabet agency target citizens for their political views?  You bet they would!

http://www.zerohedge.com/news/2017-11-02/tea-party-lawsuits-over-irs-targeting-settled-peanuts

Now we know, a “theory” no more!

http://clicks.aweber.com/y/ct/?l=NH5ZY&m=3kGoYeLmCwnjM89&b=g00u4E37vUnJN3xuMmqfUA

How about our Navy and the “mishaps”, do we get a glimpse of truth?

 http://www.zerohedge.com/news/2017-11-04/us-navy-being-truthful-its-report-recent-crash-incident

…and yet another?  http://www.zerohedge.com/news/2017-11-18/another-us-navy-warship-crashes

Political suppression is not just a U.S. thing… http://thedailycoin.org/2017/11/03/eight-catalonia-ministers-jailed-madrid-seeks-european-arrest-warrant-catalan-leader/

Tax evasion?  Elites and even the Queen herself?  http://www.zerohedge.com/news/2017-11-05/paradise-papers-massive-new-leak-exposes-tax-haven-secrets-links-wilbur-ross-russi
a

We HAVE been told you know?  https://www.counterpunch.org/2017/02/09/trumps-truth-bomb-you-think-were-so-innocent/

The Middle East too… http://www.zerohedge.com/news/2017-11-07/leaked-secret-israeli-cable-confirms-israeli-saudi-coordination-lebanon

Syria … http://nesaranews.blogspot.com/2017/07/huge-truth-bombs-on-syria.html  Mr. Putin and the Chinese had this figured out early on!

And sandwiched in between …http://www.zerohedge.com/news/2017-11-27/putin-mediating-secret-deal-between-assad-and-netanyahu-bombshell-report-reveals

We would be remiss if we left out “war” itself …

http://www.zerohedge.com/news/2017-11-20/real-cost-war-three-times-more-government-admits  How much???

http://www.zerohedge.com/news/2016-09-15/us-war-terror-has-cost-5-trillion-and-increased-terrorism-6500  How much???

http://www.zerohedge.com/news/2017-11-21/ron-paul-asks-why-are-we-helping-saudi-arabia-destroy-yemen

http://www.zerohedge.com/news/2017-11-21/us-airstrike-somalia-kills-more-100-al-shabab-militants  These are just a taste, two entire pages would not suffice!

Finance

We need to start finance off with these two links:

http://www.usdebtclock.org/index.html

http://www.usdebtclock.org/world-debt-clock.html

And always remember this, one man’s asset is another man’s debt!

Catherine Austin Fitts uncovered $21 trillion of “missing” funds!  Her find is documented and supported by two separate University professors doing two separate studies.  The money is gone …and it is nearly 10 times the size of what Donald Rumsfeld told us Sept. 10, 2001 …and we know what happened the next day to shove that truth bomb under the rug…!

https://missingmoney.solari.com/

(Her supporting documentation)

https://solari.com/blog/dod-and-hud-missing-money-supporting-documentation/

This one is huge as we now know how COMEX has avoided delivery default.  Just the month of December alone has seen the equivalent of 25%+ of global gold and silver production “steered” away from COMEX delivery and toward London.  We cannot know how much metal is left for London to deliver but we now know that HUGE quantities over the past several years have left their vaults.  The CFTC has still not as far as I know, responded to Harvey Organ’s letter calling this a fraud!

Read More @ MilesFranklin.com

Bullion Bank Pump-N-Dump

by Craig Hemke, Sprott Money:

Though we’ve seen this trick countless times over the years, it never gets less frustrating. However, with a summer rally pending, this latest Bank effort might be instructive.

Speaking of countless, I have no idea how many times I’ve written about this topic. Ten? Twenty? It’s impossible to say and, unfortunately, the fraud of the current pricing scheme continues. At any rate, you might review this post from April 2017 as it explains in greater detail the specifics of this latest smash, which we’ll discuss in detail today.

GOOGLE LISTENS TO TRUMP AND PULLS ITS MFG OF SMART PHONES OUT OF CHINA

by Harvey Organ, Harvey Organ Blog:

SILVER CONTINUES TO ADVANCE UP ANOTHER 19 CENTS TO $18.37//GOLD TAKES A LITTLE BREATHER DOWN $2.15 TO $1539.65//CHINA REFUSES TO ALLOW A USA WARSHIP TO DOCK IN CHINA//GOOGLE LISTENS TO TRUMP AND PULLS ITS MFG OF SMART PHONES OUT OF CHINA//BORIS JOHNSON SUSPENDS PARLIAMENT//ITALY FORMS A NEW GOVERNMENT WITHOUT SALVINI: HINT IT WILL NOT LAST//HUGE DEVELOPMENTS IN THE SWAMP TODAY RE RUSSIAGATE

Investors Getting Bullish on Silver and Other Silver News

by Peter Schiff, Schiff Gold:

The price of silver was up better than 15% in 2019. This has led to a major improvement in investor sentiment toward the white metal, according to a report highlighted in the latest issue of the Silver Institute’s Silver News.

According to the report, silver got a boost from a host of factors, including economic and geopolitical concerns that drove safe-haven investment in precious metals.

There were healthy gains in physical silver investment in 2019, with bar and coin sales expected to chart a three-year high. Global silver mine output is expected to show a 0.7% decrease.  For the second year in a row, silver industrial fabrication was expected to hold at a record high. Global silver jewelry and silverware demand were projected to grow by 3% and 4% respectively in 2019.

GASOLINE PRICES RISE TO RECORD LEVELS IN THE USA AND EUROPE

by Harvey Organ, Harvey Organ Blog:

GOLD CLOSED UP $5.40 TO $1814.90//SILVER CLOSED UP $.52 TO $21.51//PLATINUM FELL SLIGHTLY BY 40 CENTS TO $943.20//PALLADIUM RISES BY $81.35 TO $2018.50/GOLD STANDING FOR MAY RISES BY ANOTHER HUGE QUEUE JUMP OF 33,000 OZ//NEW STANDING 17.8150 TONNES//SILVER OZ STANDING REMAINS RELATIVELY CONSTANT AT 27.815 MILLION OZ//GASOLINE PRICES RISE TO RECORD LEVELS IN THE USA AND EUROPE//BOTH SWEDEN AND FINLAND SET TO JOIN NATO: RUSSIA CUTS OFF FINLAND FROM ITS NATURAL GAS//COVID UPDATES//IVERMECTIN UPDATES//VACCINE INJURY REPORT//VACCINE IMPACT//COMMODITY REPORT: WHEAT

TAX REFORM LIKELY TO PASS/THE CROOKS RAID THE GLD COOKIE JAR WITH A HUGE 7.09 TONNE WITHDRAWAL

by Harvey Organ, Harvey Organ Blog:

GOLD RISES BY $7.85 AND SILVER RISES BY 10 CENTS/ BITCOIN RISES $961 DOLLARS UP TO $18,608. BID/AT THE COMEX: BANKERS ISSUE 13632 CONTRACTS FOR GOLD AND SILVER: 1699 CONTRACTS/MORE SWAMP NEWS FROM THE USA

GOLD: $1262.60 up $7.85

Silver: $16.14 UP 10 cents

Closing access prices:

Gold $1263.00

silver: $16.14

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: $1266.13 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1255.08

PREMIUM FIRST FIX: $11.07

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SECOND SHANGHAI GOLD FIX: $1268.96

NY GOLD PRICE AT THE EXACT SAME TIME: $1256.00

Premium of Shanghai 2nd fix/NY:$12.96

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1258.65

NY PRICING AT THE EXACT SAME TIME: $1258.15

LONDON SECOND GOLD FIX 10 AM: $1260.60

NY PRICING AT THE EXACT SAME TIME. 1261.20

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECEMBER CONTRACT:  4 NOTICE(S) FOR 400 OZ.

TOTAL NOTICES SO FAR: 7094 FOR 709,400 OZ (22.065 TONNES),

For silver:

DECEMBER

103 NOTICE(S) FILED TODAY FOR

505,000 OZ/

Total number of notices filed so far this month: 5930 for 29,650,000 oz

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Bitcoin: BID $18,946/OFFER $19,068 UP $1322 (morning) 

BITCOIN : BID $18,608 :  OFFER 18,707  UP $961 (CLOSING)

end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY A TINY SIZED 571 contracts from 208,354 FALLING TO 207,945 DESPITE FRIDAY’S 12 CENT RISE IN SILVER PRICING.  WE HAD NO APPRECIABLE COMEX LIQUIDATION BUT ON TOP OF THIS, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A RESPECTABLE  1699 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1699 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX.  STILL, WITH THE TRANSFER OF 1699 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. FRIDAY WITNESSED 3376 EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DECEMBER:

36,412 CONTRACTS (FOR 12 TRADING DAYS TOTAL 36,412 CONTRACTS OR 182.06 MILLION OZ: AVERAGE PER DAY: 3,034 CONTRACTS OR 15.172 MILLION OZ/DAY)

RESULT: A TINY SIZED FALL IN OI COMEX DESPITE THE 12 CENT RISE IN SILVER PRICE.  HOWEVER  WE HAD MINIMAL COMEX SILVER LIQUIDATION BUT WE DID HAVE A FAIR SIZED SIZED EFP ISSUANCE OF 1699 CONTRACTS  WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS:  FROM THE CME DATA 1699 EFP’S  WERE ISSUED TODAY (FOR MARCH EFP’S)  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 1128 OI CONTRACTS i.e. 1699 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 571 OI COMEX CONTRACTS. AND ALL OF THIS INCREASE DEMAND  HAPPENED WITH THE RISE IN PRICE OF SILVER BY 12 CENTS AND A  CLOSING PRICE OF $16.04 WITH RESPECT TO FRIDAY’S TRADING. YET WE STILL HAVE A MASSIVE AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.040 BILLION TO BE EXACT or 149% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 103 NOTICE(S) FOR 505,000 OZ OF SILVER

In gold, the open interest ROSE BY A CONSIDERABLE 4394 CONTRACTS UP TO 455,137 DESPITE THE TINY SIZED LOSS  IN PRICE OF GOLD FRIDAY ($0.30).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED A CONSIDERABLE  13,632 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 13,632 CONTRACTS. The new OI for the gold complex rests at 455,137. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE WITNESS THE HUMONGOUS NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR DECEMBER. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK  TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD.  THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX  HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.  IN ESSENCE WE HAVE A HUGE GAIN OF 18,026 OI CONTRACTS: 4394 OI CONTRACTS INCREASED AT THE  COMEX  AND A GOOD SIZED  13,632 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

FRIDAY, WE HAD 10,561 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  161,396 CONTRACTS OR 16.396 MILLION OZ OR 509.98 TONNES(12 TRADING DAYS AND THUS AVERAGING: 13,449 EFP CONTRACTS PER TRADING DAY OR 1.3449 MILLION OZ/DAY)

Result: A GOOD SIZED INCREASE IN OI DESPITE THE TINY FALL IN PRICE IN GOLD TRADING  YESTERDAY ($0.30). WE  HAD A GOOD SIZED  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 13,632. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE REACHED THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES.  IF YOU TAKE INTO ACCOUNT THE 13,632 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 18,026  contracts:

13,632 CONTRACTS MOVE TO LONDON AND A 4394 CONTRACTS INCREASED AT THE  COMEX. (in tonnes, the gain yesterday equates to 56.06 which is unbelievable)

we had:  4  notice(s) filed upon for 400 oz of gold.

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

GLD:

Today,  A SHOCKER:  A HUGE CHANGES in gold inventory at the GLD.  AFTER TWO CONSECUTIVE DAYS OF GOLD RISING, THE CROOKS RAID THE COOKIE JAR WITH A WITHDRAWAL OF 7.09 TONNES

Inventory rests tonight: 837.20 tonnes.

SLV

NO CHANGE IN SILVER INVENTORY AT THE SLV:

INVENTORY RESTS AT 326.337 MILLION OZ/

end

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

1. Today, we had the open interest in silver FELL BY A TINY SIZED 571 contracts from
208,1516 UP  TO 207,945 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY RISE IN PRICE OF SILVER OF 12 CENTS YESTERDAY . HOWEVER,OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  1699  PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM).  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  WE HAD MINIMAL COMEX SILVER COMEX LIQUIDATION BUT, IF WE TAKE THE SLIGHT OI LOSS AT THE COMEX OF 571 CONTRACTS TO THE 1699 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  1128  OPEN INTEREST CONTRACTS, AND YET WE STILL HAVE A  HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET GAIN TODAY IN OZ: 5.64 MILLION OZ!!! 

RESULT: A TINY SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE  12 CENT RISE IN PRICE (WITH RESPECT TO FRIDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 1699 EFP’S ISSUED TRANSFERRING  COMEX LONGS OVER TO LONDON . TOGETHER WITH THE HUGE AMOUNT OF SILVER OUNCES STANDING FOR DECEMBER, DEMAND FOR PHYSICAL SILVER INTENSIFIES DESPITE THE CONSTANT RAIDS.

(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 1.78 points or 0.05% /Hang Sang CLOSED UP 202.30 pts or 0.70% / The Nikkei closed UP 348.55 POINTS OR 1.55%/Australia’s all ordinaires CLOSED UP 0.70%/Chinese yuan (ONSHORE) closed DOWN at 6.6180/Oil UP to 57.56 dollars per barrel for WTI and 63.38 for Brent. Stocks in Europe OPENED ALL GREEN . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6180. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.6160 //ONSHORE YUAN SLIGHTLY WEAKER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS  VERY HAPPY TODAY.(STRONG MARKETS)

Read More @ HarveyOrganBlog.com

Mr. President, If We Don’t Have Gold, We Don’t Have a Country

0

by Stewart Dougherty, GoldSeek:

“Passivity is fatal to us. Our goal is to make the enemy passive. … Communism is not love. Communism is a hammer which we use to crush the enemy.” Mao Tse-tung, proclaiming the founding of the People’s Republic of China, 1949

Circumstantial evidence is mounting high that there is something seriously wrong with the amount of gold reportedly owned by the United States government, or more precisely, the American people.

After nearly two generations of being brainwashed into believing that gold is a meaningless relic, western citizens have lost all concept of gold’s crucial monetary importance. If it turns out that the United States does not, in fact, possess and own the gold it claims to, the monetary, fiscal, economic, and humanitarian fallout will be unprecedented in its destructiveness. Unfortunately, the people have no idea what is at stake.

The largest corporation in the world, by far, is the United States government. No other corporation has anything even close to its $3.4 trillion in annual revenues, and $4.4 trillion in annual expenses. And no other corporation has ever suffered multiple annual losses exceeding $1 trillion dollars, nor could it have, as such losses would have financially annihilated it. To be able to print money at will and without limit, as USG, Inc. can do, has blinded it to the powerful beast called Consequences that is slowly and methodically hunting it down.

USG, Inc. employs thousands of accountants, many of whom work at the Congressional Budget Office. The CBO prepares detailed budgets, one of which looks forward thirty years, and then extrapolates the numerical trends for an additional forty-five years, for a total forward horizon of 75 years. The 2015 report examines USG, Inc.’s projected performance until the year 2090. According to that report, not only will USG, Inc. lose money every single year for the next 75 years, the losses will actually accelerate each year and total more than $300 trillion. In 2047 alone, the deficit is estimated to be $5.3 trillion, on a cash accounting basis. On an accrual accounting basis, it will be far worse, if USG, Inc. even makes it to that point in its current state, something we find it difficult to envision. It is arithmetically impossible for the dollar to avoid destruction in such a scenario.

It should be no surprise that USG, Inc.’s finances are such a disaster, because for the past generation and longer, the CEOs of USG, Inc. have never in their lives held real jobs in the productive economy, other than GW Bush’s brief stints as a member of an oil and then a baseball investor group, which is not the kind of real job we mean. Instead, these CEOs have all been professional politicians, who by definition do not contribute to the real economy, but rather, feed upon it.

This pattern was about to repeat itself in 2016, with the Deep State’s planned installation of Hillary Clinton into the CEO role at USG, Inc. Clinton, too, has never in her life had a real job in the productive economy, and has precisely zero experience managing anything even beginning to resemble a massive corporation with millions of employees and projected $1+ trillion, accelerating annual losses extending as far as eyes can see. This is exactly what the Deep State wanted: a corrupt, financially clueless, ideological figurehead, who would be oblivious as they ramped up the looting of USG, Inc. to a new level of rapaciousness while she was busy hectoring the nation’s producers and taxpayers about their deplorable selves. It is this looting that is the precise reason why USG, Inc. is now drowning in losses and debt, and is strategically paralyzed.

While anyone with any common sense would immediately understand that it would be ridiculous to expect that someone with zero education, training or experience in engineering could oversee the design of a spacecraft capable of landing on Mars, or that someone with zero medical education, training or experience could successfully conduct brain surgery, for some unfathomable reason, people think that someone with zero business education, training or experience can successfully manage the world’s largest corporation. USG, Inc.’s catastrophic financial results demonstrate the regrettable stupidity of that thought.

We previously termed the current United States operating system as one of “crony communism,” whereby the cronies have free rein to steal the nation’s current and retained earnings (the private wealth), while the people are progressively immiserated in communistic helplessness and squalor. The election of HRC would have finalized the crony communist revolution that Obama unleashed with all his might.

During the campaign, Trump claimed that the 2016 election provided the American people their “last chance” to turn the nation around. The key word was “chance;” he offered no guarantees, because he knew that the situation hung on a thread. In an upset, Trump won, and for the first time in decades, an actual businessman is now the CEO of the world’s largest corporation. Imagine that. Unfortunately, he inherited a situation so fractured and poisoned fiscally, monetarily, politically and societally that his turnaround task is virtually impossible, no matter how genuine his efforts might be.

Whether or not one agrees with Trump’s policies or style, he is now talking to the American people and the world about business topics that previous, politician USG, Inc. CEOs totally avoided, given their desire and incentive to preserve the status quo: the astronomical trade deficit; the need to bring back offshored jobs; the critical importance of reviving manufacturing; the staggering national debt; NATO’s getting a free defense ride at U.S. taxpayers’ expense; the need to slash strangulating regulations; skewed, unfair trade deals; the urgent need for GDP growth; the untenable condition of the nation’s infrastructure; the need to get massive illegal immigration, which comes at an exorbitant cost to taxpayers, under control; and all the rest.

Beyond those issues, Trump’s most important job responsibility is to restore the American spirit. Under Obama’s crony communist revolution, euphemized as his so-called “fundamental transformation of America,” a fraud he dared not call by its true name given that it was such an overt and pernicious attack on everything the vast majority of the people of this nation stand for, believe in and want, the citizens started to do, in droves, what they always do when subjected to totalitarian control: check out and shut down.

GDP and retail sales stagnated, and the economy progressively ground down. Stores closed and business owners gave up. And by the millions, the people retreated into the dead-end dependency of welfare, Food Stamps and Medicaid, while homelessness, tent city and under-bridge community numbers skyrocketed. Not coincidentally, opioid addiction, the ultimate surrender to despair and suicide, became a national epidemic. Which is exactly what the crony communist profiteers wanted: an increasingly helpless, hopeless, addicted and compliant populace that could be controlled by the actual “crumbs,” Ms. Pelosi, of subsistence government pigeon feed scattered upon the ground for the citizens to peck at.

As the Dutch thinker, Ronald Bernard, so incisively realized: “All the misery in the world is a business plan.”

Trump has said that his proposed tariffs on steel and aluminum are more than a matter of financials; they are also a matter of national security, because “if you don’t have steel, you don’t have a country.” This is thematically identical to the statement he has repeatedly made about illegal immigration: “If you don’t have borders, you don’t have a country.” This notion of “country” is vital, and particularly so when it comes to a nation’s monetary reserves. To steel and borders, we would add that, “if don’t have gold, you don’t have country.”

Mr. Trump is knowledgeable about gold. In fact, on January 29, 2016, he sealed a deal with Apmex, one of the nation’s largest gold dealers, for a 10 year lease of the 50th floor of “The Trump Building” located at 40 Wall Street in New York City. Significantly, at the signing ceremony, Apmex CEO Michael Haynes paid Mr. Trump the $200,000 lease deposit in gold bars.

In a statement, Mr. Trump said: “It’s a sad day when a large property owner starts accepting gold instead of the dollar. The economy is bad, and Obama’s not protecting the dollar at all. … If I do this, other people are going to start doing it, and maybe we’ll see some changes.”

Later, Trump’s press office amplified his statement by saying that “Mr. Trump has been bullish on gold due to his concerns about the value of the dollar.”

These statements demonstrate that Mr. Trump has more than a casual understanding of gold.

It is well-known that China, Russia and Turkey, among many other smaller nations, are steadily, and in the case of China, massively adding to their gold reserves. In fact, the governments of China and Turkey publicly encourage their citizens to buy gold, while Russia leads by example with its steady and well-publicized sovereign purchases. Gold is important to these nations for reasons that are well thought-out, forward-thinking and strategic.

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