Tuesday, June 25, 2019

Inflation and Gold – Precious Metals Supply and Demand

0

by Keith Weiner, Acting Man:

Reasons to Buy Gold

The price of gold went up $19, and the price of silver 42 cents. The price action occurred on Monday, Wednesday and Friday though so far, only the first two price jumps reversed. We promise to take a look at the intraday action on Friday.

File under “reasons to buy gold”: A famous photograph by Henri Cartier-Bresson of a rather unruly queue in front of a bank in Shanghai in 1949 in the final days of Kuomintang rule. When it dawned on people that the communists couldn’t be stopped, they frantically tried exchange their government-issued paper money for gold. In preparation for its exodus to Taiwan, the Kuomintang regime had forced everyone to exchange their gold, silver and foreign exchange for a new paper currency, the Jingyuanquan in 1948 (“golden yuan”) – which it promptly inflated with gay abandon, belying its name. It then tried to combat rising prices with price controls – a strategy that has reliably failed since at least the times of the Roman Empire. It reversed the policy a few months later, as even its main supporters became thoroughly fed up. The people in the picture above were among those who had clearly waited too long to take advantage of this policy reversal. [PT]

But first, we want to clarify something in light of our ongoing commentary about the struggles of the debtors and the lack of drivers for rising consumer prices. Just because farmers and restaurateurs are frantically producing and selling like mad, which results in soft prices, does not mean that people cannot begin to buy gold in earnest again.

There is no causal relationship between consumer prices and the price of gold. At times, they can be highly correlated, but then the correlation ends. For example, did you know that the age of Miss America correlated with the number of murders by steam and hot things for 10 years? Let’s look at a chart.

Gold price y/y change (right hand scale) vs. consumer price index y/y change (left hand scale) – click to enlarge.

NB: we had to put the two numbers, change in consumer prices and change in gold price on two different axes. Though both are percentage changes, gold changes are so much larger that if plotted on the same axis, consumer prices look almost like a flat-line.

You can see a tantalizing relationship between the two traces, at least for a time. At first (we began the graph in 1971 when President Nixon cut the dollar loose from gold), there is a striking correlation.

But then there is a marked change post-1981, and if there is a correlation (we have not done the math), it looks much more tenuous. This is when Reagan and Volcker beat inflation (in the mainstream Narrative), or objectively when interest began to fall, when marginal productivity of debt began its uncanny correlation with interest (which we believe is causal), and when yield purchasing power begins to show a kind of hyperinflation.

Offhand, we can think of two reasons to buy and own gold: participate in speculative mania and avoid default risk. Right now a speculative mania is occurring in crypto-currencies so that may (but not necessarily, beware correlation!) shunt such capital flows away from gold. As to default risk, there are signs of rising stress in high yield credit markets, but it’s early yet.

Fundamental Developments

Here are the charts of the prices of gold and silver, and the gold-silver ratio.

Read More @ Acting-Man.com

Ominous Video Shows Swarm of A.I. Drones Carry Out Mass Murder Without Human Orders

0

by Matt Agorist, Activist Post:

Imagine a world in which people who hold a certain political ideology could be sought out and summarily executed with surgical precision using autonomous microdrones and with no collateral damage. While this may seem like a great way to eliminate terrorist organizations like ISIS or Al-Qaeda, it could also be used by them to wipe you out.

As the Future of Life Institute points out, autonomous weapons select and engage targets without human intervention. They might include, for example, armed quadcopters that can search for and eliminate people meeting certain pre-defined criteria, but do not include cruise missiles or remotely piloted drones for which humans make all targeting decisions. Artificial Intelligence (AI) technology has reached a point where the deployment of such systems is — practically if not legally — feasible within years, not decades, and the stakes are high: autonomous weapons have been described as the third revolution in warfare, after gunpowder and nuclear arms.

All the technology to assemble these machines which would carry out autonomous assassination exists right now. However, as far as the public is concerned, it has not yet been implemented to the point we see in the ominous video below which was created by the Future of Life Institute to raise awareness to this encroaching dystopian reality.

If the above video made you feel uneasy, it should. Knowing the horrifying lengths to which governments and terrorist organizations will go to implement their will, the idea of easily wiping out one’s political foes is like a wet dream to the warmongering elite.

Indeed, these weapons have long been the wet dreams of warmongers and are outlined in their own documents which detail fleets of robots that “can fit inside a soldier’s pocket” and weapons that can “target specific genotypes.” The Project for the New American Century, the neocon think tank founded by William Kristol and Robert Kagan in 1997 described these weapons in their report, written in September 2000, titled, Rebuilding America’s Defenses.

On land, the clash of massive, combined-arms armored forces may be replaced by the dashes of much lighter, stealthier and information-intensive forces, augmented by fleets of robots, some small enough to fit in soldiers’ pockets…..And advanced forms of biological warfare that can “target” specific genotypes may transform biological warfare from the realm of terror to a politically useful tool.

The swarming drones—as fictionally portrayed in the video above—are real. In fact, as TFTP reportedlast year, Defense Secretary Ashton Carter disclosed the existence of micro-drones that can be launched from the flare dispensers of F-16s and F/A-18 fighter jets traveling at the speed of sound. As the drones are released, tiny propellers provide them with the propulsion they need to find each other and create a swarm.

While the idea of weaponized swarming micro-robots deployed by one of the most destructive governments in the history of the world is ominous and horrifying, the war-mongering bureaucrats in D.C. are actually patting themselves on the back and released video of their robots to justify stealing even more of your tax dollars to build them.

Read More @ ActivistPost.com

Gangsterism, Mob Rule and War

0

by Gordon Duff, New Eastern Outlook:

Criminal gangs that run our governments, control our corporations, fabricate our news, invent and reinvent out history and lull us into slavery do so believing humanity to be a form of cattle, no more.  Denying this is insanity.

Their prime methodology is war, this is what gangs do.

Ask anyone across the Middle East and they will say war is coming to Lebanon.  However, there is one problem with this, no one is certain who will be fighting whom?  The divided politics of Lebanon, though puzzling to outsiders and a daily concern to the Lebanese themselves are not a factor.  No one in Lebanon wants war.  Only Saudi Arabia and Israel want war, or so we are told.

Stranger still, classified briefings to key American congressional committees, blame Lebanon’s Hezbollah for backing ISIS across Africa and even in Afghanistan and Pakistan, notwithstanding the fact that Hezbollah has up to 20,000 fighters engaged in war against ISIS and its US backed surrogates at this time.

Saudi Arabia is blaming Iran for shooting missiles at them from heavily blockaded Yemen, and even more insane is the unending effort to accuse Syria of use of chemical weapons.

The world was supposed to learn a lesson after Bush 43 and Blair cooked up a war on terror after 9/11, might we well say “conveniently” after 9/11.  Fabricating war crimes, false flag terrorism, staged videos, actors as victims, all of this is not only standard fare, it is and has been the rule of the day.

Thus, we expect the now suspected 60-year marriage of love or marriage of convenience, the jury is out on which applies, between Saudi Arabia and their “besties” in Israel, to garner their assets, their paid-off politicians in America and Europe, their media assets, and their intelligence agencies, long suspected of backing ISIS and al Qaeda.

We can only wait for what they do next, will it be more staged gas attacks or a mass murder somewhere, anywhere, blamed on Iran or Syria or Hezbollah or perhaps Russia?

As American humorist, Jim W. Dean so often says, “You just can’t make this stuff up.”

Background

Before assigning blame, usually attributed to the “halls of power,” most often governments or boardrooms, we must take a moment.  Events since 9/11 have identified a flaw in typical causalities normally attributed to events and trends.  Resources, religion or even ethnic feuds are no longer casus belli, nor are identifiable institutions prime movers or participants.

We look across the Middle East in particular but must turn to further reaching areas as well, the Russian-Ukrainian steppes, the Hindu Kush or the Sahel of Africa and we see one thing, a destruction, suffering, populations in upheaval, and behind it all, mysterious supposed “non-state players” at war.  None of it should be taken at face value.

Prediction

There is general agreement that the end of the wars in Syria and Iraq will lead to a wider conflict.  No one admits as to why, no one dares.  Here is what can be told.

War is now a living thing, like a child.  Its parents may well be the “usual suspects” who gave us the Napoleonic Wars, certain the architects of the two great wars of the 20th century and the Bolshevism that violently swept much of the planet in the aftermath, ending in Vietnam and the fall of the Soviet Empire.

The end of ISIS is being mourned like the death of a child.  ISIS will live on, and we will explain why, but its wars of conquest may well never rise to the levels of profitability seen in Iraq and Syria.  The war and ISIS as well is a construct of need, a response to a regime that long ago replaced capitalism or the once imagined free markets or any other economic system.  There are no economic systems, even the “bankster debt slavery” peddled by the IMF and World Bank, no longer serve, not without a backdrop of war.

One hypothesis seems to prove out above all outs, that the last two decades of war indicate a political change in the West, that elected governments have been supplanted by one or more criminal organizations.  It may be further postulated that there may be two kinds of war:

  • War as economic necessity, the real “last stage” of capitalism
  • War is now and may well always have been a natural result of the real natural stages of human development, invariably ending in mob rule

The Methodologies

Were one to ask experts, government advisors or “cutting edge” think tanks, the world of “minds on the take,” so often used to launder and certify “fake facts” into government policy, you still end up with an unpleasant answer.  Universally, all agree, the United States is “dead in the water” as a world leader without its military engaged around the world, particularly in the Middle East and now Africa.

With America’s European allies “off the table,” now only willing, after the post-9/11 fiasco, of lending token force against helpless foes like the Houthi’s of Yemen, the balance of global power has shifted.

How It Will Play

The Astana talks on Syria have demonstrated why Washington is seen to require war.  Turkey and Iran, the real military powers of the region, each considerably more “combat sustainable” than Israel or Saudi Arabia, have found a dangerous commonality.

With Pakistan’s Imran Khan ready to move Pakistan closer to China and perhaps Russia as well, America’s adventure in Afghanistan will come to an end.  Khan will likely unite Pakistan’s Pashtun population with Afghanistan, overwhelming the US backed Northern Tribal Alliance.

What may well happen is a restructuring of Pashtun goals, mirroring the Kurdish moves further West, seeking a purely Pashtun state carved out of both Pakistan and Afghanistan.  Has the Taliban always been more of a national liberation front than extremist group?

Khan will torpedo America’s “divide and rule” game in Afghanistan and may well move nuclear Pakistan away from its traditional role as defending of Saudi Arabia and backer of CIA interests.

The making of an Islamic “anti-NATO,” which could even include Iran, with Russia and China as guarantors, could change the global balance for the foreseeable future.   What has driven this, of course, is that other narrative, one that identifies the reality of our time, that war itself is the norm, the real engine behind the shadow world economy driven by the real “non-state players.”

The Unpleasant Reality

As few as 500 individuals govern the planet.  They don’t “rule” anything, however.  Though most are elected officials and a mix of equally corrupt “tin pot” dictators, none have real power.  There are no elections that can’t be rigged, what is going on now in America is proof of that.

Where the proof is, however, points no fingers at Russia.  The proof is how the press, the police agencies, congress, all marching in lock-step, follow totally fake narratives on behalf of, well, on behalf of what or who?

There is one organization in the world that rigs elections and that is the CIA.  It “leverages” press assets around the world, and to any reasonable person inside America as well, it controls voting machines software and has a newfound partnership with quasi-secret organizations like the Federalist Society that controls paper ballot counts and polling place security across America as well.

Both the CIA and “Federalists” work for the same masters, particularly as the CIA was almost entirely privatized after 9/11.  Almost all US security organizations are now privatized or infiltrated or “castrated.”

The pattern is simple, with police across the US “trained” in Israel, where they are indoctrinated or bought off and all Washington based organizations, employing up to 1 million, answer to a chain of command that terminates “offshore,” events that drive America are more theatre than reality.

The proof, more often, is in the coverup than the acts themselves.  When one assumes a “government” serves the electorate, when all evidence supports any other hypothesis, events become predictable.  Mass killings like recent events in Las Vegas or terror attacks such as 9/11 and not some of the others, but most, are simply the “kinetic” end of government sponsored psychological warfare programs.

Terrorism and “Kinetics”

This is the term, “kinetics.”  It refers to use of violence by “surrogates” to create sufficient fear and anger, and even more dangerous, the feeling of general despair, that allows totalitarianism to be marketed as “democracy under attack.”

The concept grew up in the late 1960s, initially in Vietnam, when the US decided to implement a policy of mass murder of political opponents under the Phoenix Program.  The targets weren’t just politicians or religious leaders, the US sent assassins after teachers, nurses and journalists, anyone capable of supporting a cohesive society outside of American control.

After Vietnam, Phoenix moved to Central America, run out of the School of the America’s, began running death squads in El Salvador, Nicaragua and Honduras, killing numbers no one may even guess.

Read More @ Journal-NEO.org
 

The Generational Wheels Are Turning

0

by Michael Krieger, Liberty Blitzkrieg:

“The electric light did not come from the continuous improvement of candles.”

— Oren Harari

If you only read my stuff sporadically, you might be surprised to hear that I’m actually quite optimistic about the future. The main reason I compose articles highlighting all the frauds, corruption and absence of ethics within our current paradigm isn’t to fill you with fear and dread, but to create awareness. Ignorance is not bliss, and I believe a deep appreciation about how completely broken and opaque the current way of doing things is can provide the spark of inspiration and determination necessary to create a new and much better world

As I’ve stated many times previously, it wasn’t until Bitcoin emerged and I started to understand the implications of it, that I became very encouraged about the future. Prior to that, I saw humanity living under a terminal, predatory system that would eventually consume itself, but I couldn’t see a plausible roadmap toward a better tomorrow. Bitcoin proved to me that not only did such a path exist, but the infrastructure for this better future was being built right in front of our eyes.

I first started writing about the revolutionary implications of Bitcoin in the summer of 2012, and looking back five years later I’m filled with an overwhelming sense of awe and appreciation for all that’s been achieved. While the optimist in me always thought we might get to where we are today, to see it actually happen is nothing short of extraordinary. The incredible energy and global talent that’s entered this space over the past several years brings a gigantic smile to my face. It truly is an idea whose time has come, and the more the concepts of decentralization and trustless systems infect the global consciousness, the more unstoppable they become. I think we’re already there.

Meanwhile, there continues to be tremendous resistance to this innovation from wide swaths of the population, which is to be expected for anything that seemingly came out of nowhere and is so incredibly disruptive. I have various theories for why that’s the case, but today’s post will focus on a specific aspect that I think is relatively unappreciated, particularly by many of us older than 35.

I’m old enough to have lived half of my life during a time when the internet wasn’t totally ubiquitous. As such, being proficient in the use of technology wasn’t something I grew up with. I had to learn what I know on my own later in life, having already become comfortable and reasonably well adjusted to the pre-internet world. Throughout my ten year career on Wall Street, I simply didn’t have the intellectual curiosity to really look behind the curtain, but then the financial crisis came along and shattered my worldview. I haven’t been the same since.

I’m not the only one of course. The financial crisis of 2008/09 similarly shattered the worldview of tens, if not hundreds of millions of people across the globe. I believe that the old manner of doing things as far as organizing an economy and society died for good during that crisis and its aftermath. Sure it’s been shadily and undemocratically propped up ever since, and we haven’t yet transitioned to what’s next, but for all intents and purposes it’s dead. It’s dead because it has no credibility.

Increasing numbers of people accurately see the institutions that currently manage our lives as outdated and corrupt. More importantly, many of us don’t want to simply replace the current crop of unethical people in charge with a new bunch, we want to completely change the way things are done at a systemic level. This is precisely what lies at the heart of Bitcoin, as well as decentralized, trustless systems in general. If there’s any fundamental lesson from history it’s that human beings cannot be trusted to use power and authority altruistically and wisely. As such, it’s imperative that we distribute those things as much as possible.

Sometimes my posts are inspired by the most random of things. In today’s case, it was the following tweet by Reason.

The above caused a flood of thoughts that had been already percolating in my mind to coalesce. It made me realize that if you aren’t observing what’s currently happening with regard to Bitcoin’s ascendance (and crypto assets more broadly) from a generational perspective, you’ll completely miss the big picture. The Baby Boomer generation, which has dominated so many aspects of our country for so many decades — including the overall narrative of everything — is finally heading off into the sunset.

Read More @ LibertyBlitzkrieg.com

Merkel’s failed gambit about to bring paradigm shift to Germany

0

by Kenneth Schortgen, Rogue Money:

Despite the fact that Angela Merkel’s political party won the most seats in September’s national elections, her hopes of majority rule fell through over the weekend when the ‘Jamaican coalition’ came apart and left her with few options in trying to put together a government.  And in a very interesting response to the weekend’s failed proceedings in what should have been her 4th term in office as leader of the German people, Merkel decided that calling for new elections was a better choice than in trying to forge a secondary coalition with political parties that contain much more difficult opposing members.

“German President Frank-Walter Steinmeier says Germany is facing a situation unseen in decades after coalition talks failed. He warned of “great concern” across Europe if the “strongest country” in the EU can’t form a government.

“We are facing a situation which [we] did not face in the Federal Republic of Germany for almost 70 years,” Steinmeier said.”

— Russia Today

The primary reasons behind Merkel’s failed coalition attempts is that her political party, the Christian Democratic Union (CDU), lost more seats in September than at any time since she has reigned in office.  In Addition to this, political parties from the extreme right wing gained seats in the government they had not achieved since the end of World War II, which forecasts a shift in the political direction of the German people.

Thus the failure of the Jamaican Coalition gambit has left the Chancellor between a rock and a hard place as her inability to listen to the German people over the ‘refugee invasion’, as well as her inability to comprehend the growing anti-EU sentiment proliferating from within Germany amongst the worldwide populist movement, is leaving her little choice but to call for a new vote which could see her party lose a plurality outright, or at best bring about a new coalition partner to try to continue her hold over the government.

“Seeking her fourth term, Bloomberg reports that Merkel is “skeptical” about a minority government as it may not bring about necessary stability and is open to another so-called grand coalition with the Social Democratic party, she said in an interview with ARD television.

In the absence of an agreement to secure a majority in Germany’s Bundestag, “I’m certain that new elections are the better way,” she said.”

— Zerohedge

The fact of the matter is that Germany is experiencing the same political volatility it went through exactly 100 years ago when in the midst of World War I the people forced the abdication of Kaiser Wilhelm for a more Democratic form of government that would serve the German people rather than the monarchy.  And while Germany today is obviously not ruled by a King, but are instead under the thumb of a technocracy through which Merkel has ruled with for the past decade or more, demands for change are coming to the surface faster than anyone could have imagined.

Read More @ RogueMoney.met

GOLD RISES BY $5.10 AND SILVER IS UP BY 7 CENTS

by Harvey Organ, Harvey Organ Blog:

A MONSTROUS 21,428 EFP’S TRANSFERRED OUT OF THE COMEX AND LANDS AS A FORWARD IN LONDON/SARA CARTER; PROOF OF CLINTONS AND OBAMA IN URANIUM ONE SCANDAL

GOLD: $1282.00  UP $5.10

Silver: $17.00 UP 7 cents

Closing access prices:

Gold $1280.70

silver: $16.97

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: $1287.34 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1280.10

PREMIUM FIRST FIX: $7.24

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SECOND SHANGHAI GOLD FIX: $1288.21

NY GOLD PRICE AT THE EXACT SAME TIME: $1279.95

Premium of Shanghai 2nd fix/NY:$8.26

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LONDON FIRST GOLD FIX: 5:30 am est $1280.00

NY PRICING AT THE EXACT SAME TIME: $1280.55

LONDON SECOND GOLD FIX 10 AM: $1283.30

NY PRICING AT THE EXACT SAME TIME. 1283.30

For comex gold:

NOVEMBER/

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

TOTAL NOTICES SO FAR: 1053 FOR 105,300 OZ (3.375 TONNES)

For silver:

NOVEMBER

0 NOTICE(S) FILED TODAY FOR

nil OZ/

Total number of notices filed so far this month: 884 for 4,420,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $8198 OFFER /$8224 down $30.00 (MORNING)

BITCOIN : BID $8206 OFFER: $8235 // down $22 (CLOSING)

end

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total open interest FELL BY A LARGELY ANTICIPATED 7611 contracts from 205,094 DOWN TO 197,483 WITH RESPECT TO YESTERDAY’S TRADING  WHICH SAW SILVER FALL  BY A CONSIDERABLE 45 CENTS AND FALL WELL BELOW THE HUGE $17.25 SILVER RESISTANCE.   WE HAD CONSIDERABLE LONG COMEX LIQUIDATION.  HOWEVER   WE WERE ALSO NOTIFIED THAT WE HAD QUITE A HUMONGOUS NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE : 2998 DECEMBER EFP’S WERE ISSUED ALONG WITH 0 EFP’S FOR MARCH FOR A TOTAL ISSUANCE OF 2998 CONTRACTS. (THE ISSUANCE FOR MARCH THAT WE HAVE SEEN THESE PAST FEW DAYS BOTHERS ME A LOT AS THIS IS SUPPOSE TO BE FOR EMERGENCY IN THE UPCOMING DELIVERY MONTH).  I GUESS WHAT THE CME IS STATING IS THAT THERE IS NO SILVER TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. THURSDAY WITNESSED  1078 EFP’S ISSUED FOR YESTERDAY.

RESULT: A HUGE SIZED RISE IN OI COMEX WITH THE 45 CENT PRICE FALL.  WE HAD CONSIDERABLE  COMEX LONGS  EXITED OUT OF THE COMEX .  HOWEVER FROM THE CME DATA 2998 EFP’S  WERE ISSUED FOR TUESDAY FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY LOST ONLY 4613 CONTRACTS.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.987 BILLION TO BE EXACT or 141{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 3 NOTICE(S) FOR 15,000 OZ OF SILVER

In gold, the open interest FELL  BY A LESS THAN EXPECTED 9,277 CONTRACTS WITH THE HUGE SIZED FALL IN PRICE OF GOLD ($19.70) WITH RESPECT TO YESTERDAY’S TRADING. WE HAD CONSIDERABLE COMEX LONGS EXIT THE ARENA.  HOWEVER  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED A TOTALLY UNBELIEVABLE: 21,428 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 21,428 CONTRACTS AND FEB SAW THE ISSUANCE OF 150 CONTRACTS. YESTERDAY, WE WITNESSED A TOTAL OF 12,711 EFP’S ISSUED FRIDAY  FOR MONDAY.  The new OI for the gold complex rests at 550,561. DEMAND FOR GOLD INTENSIFIES DESPITE THE CONSTANT RAIDS.  EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION.  THE BANKERS AT THE COMEX  HAVE JUST STATED THAT THEY HAVE NO METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NOT BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND ON TOP OF THAT IT IS TAKING 6 TO 10 WEEKS TO OBTAIN PHYSICAL WHEN FORWARDS ARE DUE.

Result: A HUGE SIZED DECREASE IN OI  WITH THE MAMMOTH FALL IN PRICE IN GOLD ON YESTERDAY ($19.70). WE  HAD AN UNBELIEVABLE HUMONGOUS NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 21,428. THERE OBVIOUSLY DOES NOT SEEM TO BE ANY PHYSICAL GOLD AT THE COMEX AN YET WE ARE APPROACHING THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS NO GOLD PRESENT AT THE GOLD COMEX. IF YOU TAKE INTO ACCOUNT THE 21,428 EFP CONTRACTS ISSUED, WE HAD A NET GAIN OPEN INTEREST OF 12,151:  21,428 CONTRACTS MOVE TO LONDON AND 9277 LEAVE THE COMEX.

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD:

No change in gold inventory at the GLD/

Inventory rests tonight: 843.39 tonnes.

SLV

TODAY WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 318.074 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 7611 contracts from 205,094 DOWN  TO197,483 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE HUGE FALL IN SILVER PRICE (A LOSS OF 45 CENTS ). HOWEVER, OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE A MONSTROUS 2998  PRIVATE EFP’S FOR DECEMBER (WE DO NOT GET A LOOK AT THESE CONTRACTS)  AND 0 EFP’S FOR MARCH FOR A TOTAL OF 2998 EFP CONTRACTS.  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. THIS IS QUITE EARLY FOR THESE EFP ISSUANCE..USUALLY WE WITNESS THIS ONE WEEK PRIOR TO FIRST DAY NOTICE AND THIS CONTINUES RIGHT UP UNTIL FDN.  WE ALSO HAD CONSIDERABLE  AMOUNT OF SILVER COMEX LIQUIDATION.

RESULT: A HUGE SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE 45 CENT LOSS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). HOWEVER, WE  HAD ANOTHER 2998 EFP’S ISSUED,TRANSFERRING OUR COMEX LONGS OVER TO LONDON TOGETHER WITH CONSIDERABLE  SILVER COMEX LIQUIDATION.  YESTERDAY WE EXPERIENCED 1078 EFP’S ISSUED FOR TRANSFER TO LONDON.

(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 MONDAY night/TUESDAY morning: Shanghai closed UP 18.10 points or .53{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} /Hang Sang CLOSED UP 557.76 pts or 1.91{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} / The Nikkei closed UP 154.72 POINTS OR 0.70{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.27{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6336/Oil UP to 56.55 dollars per barrel for WTI and 62.36 for Brent. Stocks in Europe OPENED GREEN  . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6336. OFFSHORE YUAN CLOSED WEAKER TO THE ONSHORE YUAN AT 6.6362 //ONSHORE YUAN WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS   VERY HAPPY TODAY.(MARKETS STRONG)

Read More @ HarveyOrganBlog.com

Are Sandy Hook Dominoes Beginning To Fall? Civil Suit Against Investigator Wolfgang Halbig Dropped

by Tim Brown, Freedom Outpost:

In a stunning move, father of Noah Pozner, and alleged Sandy Hook victim, has dropped his civil lawsuit against investigator and school security expert Wolfgang Halbig just as he was about to have to provide a video a deposition in the case.

Appearing on NorthWest Liberty News, Halbig said that despite the lawsuit being dropped, he would continue to pursue obtaining information via a counter lawsuit.

At the very point in the case where Leonard Pozner is supposed to present a video deposition, Halbig said that both Pozner and his attorney dropped the lawsuit.

Apparently, the lawsuit was nothing more than a ploy to deprive Halbig of his resources and try to shut him down by getting him to either presumably settle of back down.

Halbig said he would do neither because the American people had a right to know what took place at Sandy Hook in December of 2012, and is planning a countersuit in order to obtain

 

“I believe Leonard Pozner is the domino that’s going to make the whole thing just fall apart,” Halbig said.  “The reason I say that is because once Leonard Pozner dropped that lawsuit, the Hartford Courant, which is the big newspaper in Connecticut, they published on the headlines that they are demanding that the Connecticut State Police immediately release the active shooter response report that they’ve been waiting for for over five years.”

Even now, the Connecticut State Police have refused to release that report.  Will they do so now?  It should be public knowledge.

Halbig recounts some of the problems with the official story of what took place in the interview, as well.

Here’s the thing.  When it came time to put up or shut up regarding charges that a parent of a child at Sandy Hook made against Halbig for simply questioning the official narrative, the parent shut up.

The question is why?  I think they know that if they go to court, there will be an entire pile of evidence opened up in discovery that will not be to their liking.

Listen to the interview below.  What do you think?

Wolfgang Halbig is an American Executive Director of the National Institute for School and Workplace Safety, best known for his allegations and theories regarding the Sandy Hook Elementary School shooting.

Read More @ FreedomOutpost.com

SCIENTIFIC PROOF: Today’s poisons will pollute the gene pool until the year 2300 — both internal and external environmental memories are passed down for 14 generations

0

by Isabelle Z., Natural News:

When you live an unhealthy lifestyle, you might think that you’re only hurting yourself, but the truth is that you are setting up the next 14 generations to pay the consequences for your actions. Similarly, you are currently embodying what your own ancestors experienced a remarkable 14 generations ago.

A team of scientists led by the European Molecular Biology Organization in Spain illustrated this effect in studies using nematode roundworms that had been genetically engineered to carry a transgene for a type of fluorescent protein that made them glow brightly under ultraviolet light.

They then altered the temperatures in the containers of the nematodes to 68 degrees Fahrenheit, at which point they barely glowed. After moving them to a space with temperatures nine degrees higher, their fluorescence gene activated and they glowed brilliantly. They even continued their glowing after being moved back to colder temperatures.

After following the offspring of these worms for seven generations, they discovered the baby worms inherited epigenetic genes for warmer climates even though they had not been exposed to those temperatures themselves at any point. After dividing them into groups and exposing half to colder temperatures and half to temperatures of 77 degrees, both groups still showed high fluorescence gene activity. In fact, they inherited the epigenetic genes for warmer climates through sperm and eggs. The researchers believe this could be some type of biological forward planning, and it went on for 14 generations in total.

Trauma and unhealthy habits affect future generations

This phenomenon has also been seen in humans. Trauma is one thing that can affect the DNA in sperm and change the behavior and brains of subsequent generations. For example, the children and grandchildren of female survivors of the Dutch famine in the 1940s had higher glucose intolerance as they got older, while descendants of Holocaust survivors have lower levels of cortisol, a hormone that can help the body recover from trauma. An examination of skulls belonging to Cherokee Native Americans descended from survivors of the Trail of Tears found that nutritional deficiencies, past traumas, and poor immune systems could also be inherited.

A study published in Nature Neuroscience found that mice who had been trained to avoid certain smells actually passed those aversions on to their grandchildren. The team of researchers from the Emory University School of Medicine responsible for that study wrote in their report: “The experiences of a parent, even before conceiving, markedly influence both structure and function in the nervous system of subsequent generations.”

Genetics have even been shown to affect the way that people look at images in their environments in studies with twins, influencing the way we seek out information and where we direct our gazes – and by extension, the way we interpret our world.

Future generations paying the price

A study from the University of Massachusetts Medical School revealed that just one junk-food-consuming generation could pass on the metabolic disorders such a lifestyle creates to the next generation – which is something you might want to keep in mind the next time you ponder having a donut.

Read More @ NaturalNews.com

Another Cryptocurrency Gets Hacked. Here are the 30 Biggest Crypto Hacks So Far

0

by Wolf Richter, Wolf Street:

Hackers are dogging cryptocurrencies.

It starts with nightmarish messages like this:

Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. Tether integrators must take immediate action, as discussed below, to prevent further ecosystem disruption.

Disappeared: $31 million in tether tokens. This was reported Monday night by Tether, the company behind the cryptocurrency “tether,” with a market capitalization of $673 million, according to CoinMarketCap. The value of tether, pegged to the US dollar continued to hover around $1.

But bitcoin plunged 5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} and then recovered. Tether is used is used by bitcoin exchanges in trades with real currencies.

The hack had taken place on November 19, Tether said. The tokens were sent to an “unauthorized bitcoin address.” The company said it’s trying to prevent the stolen tokens from being converted into dollars or enter “the broader ecosystem.”

Sure, there are thefts of all currencies. But there’s a difference. When someone steals money from your bank account by hacking into the bank, the bank is responsible and makes you whole. When someone hacks into a cryptocurrency, no one covers it.

These hacks of cryptocurrencies are just about as old as cryptocurrencies themselves. In June, 2011, a user named ALLINVAIN made off with 25,000 bitcoins, at the time valued at $775,000, today valued at $200 million. It went on from there.

The biggest hack remains Mt. Gox, which at the time was handling 70{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the global bitcoin transactions. The exchange, located in Tokyo, revealed the hack in February 2014. Apparently 650,000 bitcoins ($473 million at the time) had disappeared over a period of several years. At today’s prices, the hack would have amounted to $5.2 billion.

Here are some of the major cryptocurrency hacks:

August 2017, Enigma ICO (Initial Coin Offering)  was hacked, 1,500 Ether ($500,000) stolen. Store of Value writes:

The hacker was able to break into Enigma’s website, Slack group, and mailing list and sent fraudulent messages to the project’s community asking for money. This allowed the hacker to gather almost 1,500 Ether (about $500,000). This is despite a previous warning by Enigma that it would not collect money in this way until its ICO in September.

July 2017, Veritaseum’s Ether wallet hacked, about $8 million stolen after its ICO on May 26th. Store of Value:

[O]n July 23rd, Middleton [founder Reggie Middleton of the Boom Bust Blog] claimed in Veritaseum’s Slack group that hackers stole 36,000 VERI tokens out of a wallet held by the company. This is how Middleton described the hack: “The hackers thwarted 2FA, on two different accounts, and finagled 3rd parties security among several other things. They went through quite a bit of effort, alas going through that much effort caused them to leave a bread crumb trail as well. I hate thieves.”

 

July 2017, Parity Multisig Wallet was hacked, according to ParityTech. “A vulnerability in the Parity Wallet library contract of the standard multi-sig contract has been found,” the company said. Via this vulnerability, hackers drained 153,037 Ether ($32 million) from three multi-signature contracts that were used to store funds from prior ICOs (Swarm City, Edgeless Casino, and æternity).

July 2017, Bithumb, the world’s fourth largest Bitcoin exchange and largest Ether exchange, was hacked, according to Hacker News. Claims “started to surface” that “billions of won” disappeared from compromised accounts at the Korean exchange. At the time, actual loss data remained unclear.

July 2017 (a busy month for cryptocurrency thefts), CoinDash ICO was hacked and 37,000 ether ($7 million) were stolen. Store of Value:

CoinDash is an Israeli startup that conducted an ICO in July of this year to raise funds. However, just 13 minutes into the crowdsale, a hacker was able to change the Ethereum address posted on the ICO’s website. This address is where interested investors should send their Ether to in order to receive CoinDash tokens in return.

October 2016, Bitcurex, a bitcoin trading platform in Poland, suddenly shut down. A few days later, it posted a notice on the otherwise dead site that an update had gone awry and asked customers to be patient. January 2017, the owner of the exchange “disappears,” as the exchange remained shut down and its 2,300 bitcoins ($2.6 million) are gone. Polish authorities started investigating.

August 2016, Bitfinex was hacked again, after its May 2015 hack. This time, 119,756 bitcoins were stolen ($72 million), at the time the second largest heist, after Mt. Gox. The exchange, based in Hong Kong, is the world’s largest dollar-based bitcoin exchange.

Read More @ WolfStreet.com

Bankrupt Venezuela Is Demanding Oil From JV Partners Without Payment

from ZeroHedge:

Now that Venezuela, and its state-owned petroleum company PDVSA, were both officially declared in default on their debt by ISDA last Friday, analysts were closely watching what the insolvent Maduro government would do next, now that it is – at least on paper – isolated from most international capital markets (with the occasional loophole when it comes to Chinese and Russian funds). We didn’t have long to wait, and as Reuters reportsa cash-strapped, and bankrupt, PDVSA has resorted to siphoning oil from its cash-paying joint ventures with foreign firms to feed its domestic refineries.

In one example, PDVSA asked its Petropiar joint venture with Chevron to turn over as much as 45{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the oil it planned to export in November without payment. While state-owned PDVSA predictably did not respond to a request for comment by Reuters, Chevron – which stands to lose far more – similarly declined to comment. Reduced exports of Petropiar’s crude is mainly having an impact on customers in the United States, according to one of the sources and Thomson Reuters trade flows data.

PDVSA started requesting some cargoes from Petrocedeno for the Paraguana Refining Center (CRP). Now it is asking Petropiar to relinquish almost half of its crude production,” the Reuters source said.

From August through October, PDVSA took at least 1 million barrels per month of heavy crude from Petropiar after acquiring Zuata Sweet crude from Petrocedeno earlier this year. It is seeking 2 million barrels, or 45{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of Petropiar’s total production for November.

Venezuela’s action is a bizarre form of self-cannibalization, as PDVSA’s joint ventures export upgraded crude to buyers around the globe and as such, Maduro’s diversion cuts into the main source of the government’s revenue. The likely reason why the government has resorted to such a drastic decision, one which will significantly cut into Venezuela’s only source of dollar funding, is to deal with intermittent, and increasingly acute fuel shortages plaguing the nation because of the poor condition of its refineries, which in some cases are working at a third of capacity.  

Reuters confirms as much, “the lack of these exports add to the nation’s cash crunch as President Nicolas Maduro tries to restructure some $60 billion in debt to bondholders” even as some of Venezuela’s oil exports are already under oil-for-loan agreements with Russia and China, as we reported this summer

In addition to the Petropiar joint venture with Chevron, PDVSA has this year taken oil for its domestic refineries from its Petrocedeno project with Total and Statoil. The diversions are adding new strains to the ventures’ cash flow. Foreign partners in several joint ventures also have been required since last year to pay for imported naphtha used to dilute the Orinoco Belt’s oil when upgraders are not operating or working at reduced capacity, further hurting their earnings.

Worse, the cash grab impacts not only PDVSA, but the international partners: “The joint ventures are expected to be compensated for the diverted oil through dividends paid to the partners. However, some foreign oil firms operating in Venezuela have been unable to repatriate such payments to their parent companies.

Meanwhile, Venezuela’s dometic oil industry is crashing as PDVSA’s finances are so weak it is struggling to find the funds to drill wells, maintain oilfields and keep pipelines and ports working, Reuters notes. For context, according to the latest OPEC numbers, Venezuela’s overall crude output declined in October to its lowest since 1989.

Sanctions imposed by the United States on Venezuela and its state-run company PDVSA have not helped, and have also contributed to weaker exports this year as most offshore energy coutnerparts demand letters of credit, which however no banks will endorse due to fears of Venezuela’s escalating sanctions.

As a last ditch measure, Maduro’s government has increasingly turned to ally Russia for the cash and credit it needs to survive as China has not extended any more credit to Venezuela amid delays in oil shipments, Reuters reported in August.

Read More @ ZeroHedge.com

CREEPY UNCLE JOE

0

from Paul Joseph Watson: