Monday, October 21, 2019

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

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

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

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

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.038 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 145 NOTICE(S) FOR 725,000 OZ OF SILVER

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

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

Read More @ Harveyorganblog.com

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

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

Domestic Abuse: A Smart Device Called the Police

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from The Daily Bell:
This article is not about fear. This article is about common sense.

Last week, we discussed the internet of things, and how smart devices could be used to literally know more about us than we know about ourselves.

This is not some distant future dystopia we are talking about. It is already happening.

A smart device in a home called the police during a domestic violence incident.

Trump’s Ultimatum with China

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by Jim Rickards, DailyReckoning:
The Mar-a-Lago meetings between President Trump and Chinese President Xi have now brought geopolitical, economic, financial and other issues all to a convergence.

The worlds of defense and diplomacy are now converging on global capital markets — stocks, bonds, derivatives, commodities, currencies, gold, etc.

The significance of the Mar-a-Lago meeting extends beyond the historic property and the fact that it is Donald Trump’s main winter residence. Presidents have a protocol of meeting locations with heads of state. They tend to reserve the most important meetings for exclusive venues.

Commodity Cycle Upturn To Lift Precious Metals Prices

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by Stefan Gleason, Activist Post:
Safe-haven demand for physical precious metals came in soft through the first half of the year as a rising stock market reinforced investor optimism toward the economy.

U.S. stocks are expensive by just about every valuation measure you can think of – price/earnings, price/sales, dividend yield, total market capitalization as a percentage of GDP, etc. Even Fed chair Janet Yellen remarked recently that equity valuations appeared “rich.”

The inverse of the extreme overvaluation in equities is the extreme relative cheapness of hard assets. Commodity indexes entered the summer at generational lows in real terms.

U.S. House Financial Services Committee Needs New Leadership

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

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

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

by Axel Merk, GoldSeek:

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

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

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

New Utah Facility Will Turn Food Waste into Renewable Energy

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by Mike Barrett, Natural Society:
Food waste is a huge problem for the United States. As a wealthy nation, we often take our supermarkets full of food for granted. Thankfully there are many initiative popping to tackle this problem, with one example being seen at Salt Lake City, Utah, where a facility will reduce landfill waste and turn food waste into renewable energy. [1]

Set to open in late 2018, the facility will use anaerobic digesters to grind and liquefy food waste, then use water, heat and bacteria to convert it into methane gas. The methane will eventually be used as natural gas and the bio-solids will be converted into fertilizer.

Anaerobic digestion is biological process in which microbes break down biodegradable material without oxygen.