Saturday, September 25, 2021

The Coronavirus Panic: It All Makes Complete Sense

by Chris Menahan, Information Liberation:

Coronavirus has long been known to virologists. It’s a seasonal virus that mutates somewhat each year. In the past, it’s routinely been dealt with through treatments that are both cheap and plentiful.

And yet, somehow, the release of corona in its latest mutation has been co-opted to justify a social and economic shutdown in over one hundred countries.

The knock-on effects of this shutdown have included, in the US alone:

Europe is Panicking Over the Prospects of a Trump-Putin Summit

by Grete Mautner, New Eastern Outlook:

As it’s been officially confirmed by both Washington and Moscow, Donald Trump and Vladimir Putin are going to hold an official meeting in mid-July. This will be their third in-person meeting even though both leaders have made statements about how they have a positive working relationship and there’s reports that they would often hold phone conversations.

As it’s been pointed out by The Nation, every single American president after Roosevelt held at the very least one summit withhis Soviet or Russian counterpartwhile other had multiple onesincluding Eisenhower, Reagan and George Bush seniorThose summits pursued a number of goals, including attempts to solidify a mutual nationalsecurity partnership between the leaders of the two statestypically on behalf of improving relations; to enhance both leaders’ political standing at home and in the worldtosend a message to their respective elites that attempts at sabotaging the leaders détente policy will not be toleratedto spread a positive media message to gain more popular support at home. It goes without saying that summits had various results, both those that can be described as positive and negative ones.

Wells Unexpectedly Shuts All Existing Personal Lines Of Credit, Hinting US Economy On The Edge

from ZeroHedge:

Wells Fargo just announced that it’s shutting down all of its existing personal lines of credit – a popular product offered by the retail-focused Wall Street giant – a move that will likely infuriate legions of customers.

The revolving credit lines, which will be shut down in the coming weeks, typically allow users borrow $3K to $100K, were pitched as a way to consolidate higher-interest credit-card debt, pay for home renovations or avoid overdraft fees on checking accounts attached to the loan.

Russian Military Releases Satellite Images Confirming US Smuggling of Syrian Oil

0

from Government Slaves:

The Russian military described the US scheme as nothing less than “international state banditism.”

MOSCOW (Sputnik) – The Russian Defense Ministry published satellite intelligence images proving that oil from Syria was sent abroad under the guard of US servicemen before and after the defeat of the Daesh terrorists, Russian Defense Ministry spokesman Maj. Gen. Igor Konashenkov said Saturday.

The ministry spokesman said that “the space intelligence images showed that oil was actively extracted and massively exported for processing outside Syria, under the reliable protection of US troops, before and after the defeat of the Daesh* terrorists.”

VIDEO: The Reddit Revolution, GameStop and Melvin Capital

by Glenn Greenwald, Greenwald Substack:

A remarkable series of events culminated in at least one major Wall Street hedge fund on the verge of insolvency and widespread anxiety and even panic from the titans of the financial system. It was all initiated on a sub-group of Reddit known for its heterodox interest in stock markets, video games, and vaguely populist politics.

The Age of Petty Tyrannies

by John W. Whitehead, Rutherford Institute:

Whether the mask is labeled fascism, democracy, or dictatorship of the proletariat, our great adversary remains the apparatus—the bureaucracy, the police, the military. Not the one facing us across the frontier of the battle lines, which is not so much our enemy as our brothers’ enemy, but the one that calls itself our protector and makes us its slaves. No matter what the circumstances, the worst betrayal will always be to subordinate ourselves to this apparatus and to trample underfoot, in its service, all human values in ourselves and in others.”—Simone Weil, French philosopher and political activist

We labor today under the weight of countless tyrannies, large and small, carried out in the name of the national good by an elite class of government officials who are largely insulated from the ill effects of their actions.

GOLD DOWN $2.45 TO $1352.95/SILVER DOWN 8 CENTS TO $16.84

by Harvey Organ, Harvey Organ Blog:

HUGE EFP TRANSFER IN GOLD OF 22,672 CONTRACTS/SILVER EFP ISSUANCE: 1731 CONTRACTS/THE KEY USA/YEN CROSS PLUMMETS TO CLOSE TO 106.00/TWO BIG USA DATA POINTS TODAY; PPI IS SCORCHING HOT AND THAT MEANS INFLATION AROUND THE CORNER/INDUSTRIAL PRODUCTION FALTERS MEANING STAGFLATION MAY BE UPON US/MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1352.95 DOWN $2.45

Silver: $16.84 DOWN 8 cents

Closing access prices:

Gold $1353.50

silver: $16.88

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: $XXXX DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $XXXX

PREMIUM FIRST FIX: $3.78

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SECOND SHANGHAI GOLD FIX: $XXXX

NY GOLD PRICE AT THE EXACT SAME TIME: $1333.50

discount of Shanghai 2nd fix/NY:$1.20

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LONDON FIRST GOLD FIX: 5:30 am est $1353.70

NY PRICING AT THE EXACT SAME TIME: $1353.90

LONDON SECOND GOLD FIX 10 AM: $1352.45

NY PRICING AT THE EXACT SAME TIME. $1351.900

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 1 NOTICE(S) FOR 100 OZ.

TOTAL NOTICES SO FAR:1784 FOR 178400 OZ (5.5489 TONNES),

For silver:

FEBRUARY

1 NOTICE(S) FILED TODAY FOR

5,000 OZ/

Total number of notices filed so far this month: 308 for 1,540,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $9638/OFFER $9714: up $198(morning)

Bitcoin: BID/ $99029/offer $9999: up $492  (CLOSING/5 PM)

 

end

Let us have a look at the data for today\

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In silver, the total open interest ROSE BY A HUGE SIZED 3070 contracts from 194,056  RISING TO 197,126 WITH  YESTERDAY’S HUGE  35 CENT GAIN IN SILVER PRICING.  WE  HAD ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1731 EFP’S FOR MARCH AND AND 0 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 1731 CONTRACTS.  WITH THE TRANSFER OF 1731 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. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. THE 1731 CONTRACTS TRANSLATES INTO 8.915 MILLION OZ DESPITE  WITH THE CONTINUAL DROP IN OPEN INTEREST IN SILVER AT THE COMEX.

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

36,852 CONTRACTS (FOR 12 TRADING DAYS TOTAL 36,852 CONTRACTS OR 184.26 MILLION OZ: AVERAGE PER DAY: 3071 CONTRACTS OR 15.355 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  184.26 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 26/32% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  432.60 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A HUGE SIZED GAIN IN OI SILVER COMEX WITH THE HUGE  35 CENT GAIN IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 1731 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 1731 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  4801 OICONTRACTS i.e. 1731 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3070  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE HUGE RISE IN PRICE OF SILVER OF  35 CENTS AND A CLOSING PRICE OF $16.92 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A FAIR AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.986 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest  ROSE BY A HUMONGOUS 16,637 CONTRACTS UP TO 528,382 WITH THE GIGANTIC SIZED RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($27.40). HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TODAY AND IT TOTALED AN ATMOSPHERIC SIZED  22,672 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 21,922 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 750 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 528,382. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI  TOGETHER WITH  THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. 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 (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE TODAY DESPITE YESTERDAY’S TRADING IN GOLD,  WE HAVE A GAIN OF 39,309  CONTRACTS: 16,637 OI CONTRACTS INCREASED AT THE COMEX AND A GIGANTIC SIZED  22,672 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(39,309 oi gain in CONTRACTS EQUATES TO 122.26 TONNES)

YESTERDAY, WE HAD 6481 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 131,430 CONTRACTS OR 13,143,000  OZ OR 408.80 TONNES (12 TRADING DAYS AND THUS AVERAGING: 10,952 EFP CONTRACTS PER TRADING DAY OR 1,095,200 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 12 TRADING DAYS: IN  TONNES: 408.80 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2200 TONNES

THUS EFP TRANSFERS REPRESENTS 408.80/2200 x 100% TONNES =  18.58% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1042.2 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22  TONNES

Result: A  HUGE SIZED INCREASE IN OI AT THE COMEX WITH THE HUGE SIZED GAIN IN PRICE IN GOLD TRADING YESTERDAY ($27.40). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS  RECEIVED THEIR PRIVATE EFP CONTRACT  FOR EITHER  APRIL OR JUNE. HOWEVER, WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 22,672 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE 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 22,672 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 39,309 contracts ON THE TWO EXCHANGES:

22,672 CONTRACTS MOVE TO LONDON AND  16,637 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 122.26 TONNES).

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

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

GLD

WITH GOLD DOWN $2.45 TODAY, NO CHANGE IN GOLD INVENTORY AT THE GLD/

Inventory rests tonight: 823.66 tonnes.

SLV/ 

NO CHANGES IN SILVER INVENTORY AT THE SLV/ AGAIN WITH TODAY’S HUGE RISE IN SILVER PRICE:   NO CHANGE IN INVENTORY

/INVENTORY RESTS AT 314.045 MILLION OZ/

end

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

1. Today, we had the open interest in silver ROSE BY A HUGE 3070  contracts from 194,056 UP TO 197,126 (AND now A LITTLE FURTHER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE HUGE SIZED FALL  IN PRICE OF SILVER  (35 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 1731 PRIVATE EFP’S FOR MARCH AND 0 EFP CONTRACTS OR MAY  (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS .  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  3070 CONTRACTS TO THE 1731 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF  4801  OPEN INTEREST CONTRACTS .  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES:  24.00 MILLION OZ!!!

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE HUGE SIZED GAIN OF 35 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 1731 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR FEBRUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.

(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

)Late WEDNESDAY night/THURSDAY morning: Shanghai closed /Hang Sang CLOSED UP 599.83 or 1.97% / The Nikkei closed UP 310.81 POINTS OR 1.47%/Australia’s all ordinaires CLOSED UP 1.16%/Chinese yuan (ONSHORE) closed UP at 6.3415/Oil DOWN to 60.58 dollars per barrel for WTI and 63.84 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN  .   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3415. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.2980//ONSHORE YUAN A LITTLE STRONGER AGAINST THE DOLLAR/OFF SHORE A LOT STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS A LOT WEAKER AGAINST ALL MAJOR CURRENCIES .  CHINA IS  HAPPY TODAY AS THEY BEGIN THEIR NEW YEAR ONE WEEK HOLIDAY TOMORROW

Read More @ HarveyOrganBlog.com

Biden’s Nominee For New Cabinet-Level Science Position Is Epstein-Linked Geneticist

by Whitney Webb, The Last American Vagabond:

CRISPR gene-editing expert Eric Lander, Biden’s director of the Office of Science and Technology Policy, is awaiting Senate confirmation to serve in a new Cabinet-level position in the Biden administration. Jeffrey Epstein, the eugenicist pedophile and sex trafficker, bragged about funding Lander’s research and was photographed taking part in at least one meeting with him.

China’s Fake Numbers And The Risk They Pose For The Rest Of The World

by John Rubino, Dollar Collapse:

Not so long ago, London Telegraph’s Ambrose Evans-Pritchard was one of the handful of must-read financial journalists. He probably still is, but since he disappeared behind the Telegraph’s pay wall his work is invisible to non-subscribers, only emerging when a free outlet runs one of his stories.

That happened this morning when the Sydney Morning Herald carried his analysis of the financial Ponzi scheme that is China.

After taking on more debt in a single decade than any other country ever — in the process helping to pull the US and Europe out of the Great Recession — China recently shifted into an even higher gear, creating a world record amount of credit in the most recent reporting month.

BC: The Collapse of Rome: Washington’s $6.5 trillion Black Hole

by F. William Engdahl, New Eastern Outlook:

BC stands for NEO’s Banned Classic. This article was originally published by our journal on 22.08.16 For some reason, this article is missing from Google search results. Since this article remains pretty relevant to those geopolitical events that are taking place on the geopolitical stage today, we deem it possible to present it to our readers once again. Should it go missing again, you may be confident that you will see it republished by NEO once more, should it still remain relevant by that time.

10-Year Yield Jumps, Yield Curve Steepens, on Fed’s Plan to Buy $60 Billion a Month, But Only Short-Term Treasury Bills

by Wolf Richter, Wolf Street:

Ending the repo market blowout and un-inverting the yield curve.

Since Fed Chair Jerome Powell’s initial explanation of the Fed’s new plan, and with a big push this morning from the Fed’s announcement of the actual details of the plan, the 10-year Treasury yield has jumped 23 basis points, from 1.52% when he was speaking on Tuesday to 1.75% at the moment. And the yield curve has steepened and is getting close to un-inverting. Here is what happened.