GOLD: $1338.95 UP $2.20

Silver: $17.17 DOWN 3 cents

Closing access prices:

Gold $1327.00

silver: $17.00

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: $1346.38 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1338.80

PREMIUM FIRST FIX: $7.58

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SECOND SHANGHAI GOLD FIX: $1342.50

NY GOLD PRICE AT THE EXACT SAME TIME: $1333.25

Premium of Shanghai 2nd fix/NY:$9.25

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1337.35

NY PRICING AT THE EXACT SAME TIME: $1336.65

LONDON SECOND GOLD FIX 10 AM: $1335.65

NY PRICING AT THE EXACT SAME TIME. $1335.00

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 0 NOTICE(S) FOR NIL OZ.

TOTAL NOTICES SO FAR: 449 FOR 44900 OZ (1.3965 TONNES),

For silver:

jANUARY

52 NOTICE(S) FILED TODAY FOR

260,000 OZ/

Total number of notices filed so far this month: 625 for 3,125,000 oz

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Bitcoin: BID $10,088/OFFER $10,193 DOWN $1255 (morning)

 Bitcoin: BID   11,186/OFFER  $11,294 DOWN  $160(CLOSING)

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A RATHER LARGE  3912 contracts from 200,423 FALLING TO 196,511 DESPITE YESTERDAY’S 5 CENT RISE IN SILVER PRICING.  WE HAD CONSIDERABLE COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER FAILED MAJOR BANK SHORT- COVERING OPERATION YESTERDAY AS SPECS CONTINUE TO POUR IT ON. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  7310 EFP’S FOR MARCH AND ZERO FOR OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 7310 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE  MAJOR PLAYERS WILLING TO TAKE ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 7310 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.

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

31,554 CONTRACTS (FOR 12 TRADING DAYS TOTAL 31,554 CONTRACTS OR 157.770 MILLION OZ: AVERAGE PER DAY: 2629 CONTRACTS OR 13.147 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  157.77 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 22.5% OF ANNUAL GLOBAL PRODUCTION

RESULT: A LARGE SIZED LOSS IN OI COMEX DESPITE THE GOOD 5 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 7310 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 . FROM THE CME DATA 7310 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 3398 OI CONTRACTS i.e. 7310 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 3912  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 5 CENTS AND A CLOSING PRICE OF $17.20 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD 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. 0.9860 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 52 NOTICE(S) FOR 260,000 OZ OF SILVER

In gold, the open interest ROSE BY A CONSIDERABLE 7341 CONTRACTS UP TO 582,333 WITH THE SOLID  RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($2.30).  IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED TUESDAY FOR WEDNESDAY AND IT TOTALED A GIGANTIC SIZED  23,183 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 23,183 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS   The new OI for the gold complex rests at 582,333. 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 JANUARY 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 WE HAVE ANOTHER MONSTROUS GAIN OF 30,530 OI CONTRACTS: 7341 OI CONTRACTS INCREASED AT THE COMEX AND AN ATMOSPHERIC SIZED  23,183 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 7163 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 121,948 CONTRACTS OR 12,194 MILLION OZ OR 379.31 TONNES (12 TRADING DAYS AND THUS AVERAGING: 10,162 EFP CONTRACTS PER TRADING DAY OR 1,016,200 OZ/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: 379 TONNES

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

THUS EFP TRANSFERS REPRESENTS 379/2200 TONNES =  17.22% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A HUGE SIZED INCREASE IN OI AT THE COMEX WITH THE SMALL  RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($2.30). WE HAD ANOTHER ATMOSPHERIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 23,183. 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 23,183 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 30,530 contracts ON THE TWO EXCHANGES:

23.183 CONTRACTS MOVE TO LONDON AND  7341 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 100.40 TONNES)

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

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

GLD

With gold up again today, we had no changes in inventory from the GLD:

Inventory rests tonight: 828.96 tonnes.

SLV/ 

NO CHANGES IN SILVER INVENTORY AT THE SLV/

INVENTORY RESTS AT 316.348 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 CONSIDERABLE 3912 contracts from 200,423 DOWN TO 196,511 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE FAIR SIZED RISE IN PRICE OF SILVER TO THE TUNE OF 5 CENTS WITH RESPECT TO  YESTERDAY’S TRADING.  WE HAD WITHOUT A DOUBT ANOTHER FAILED  SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GIGANTIC 7310 PRIVATE EFP’S FOR MARCH (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 LOSS AT THE COMEX OF 3912 CONTRACTS TO THE 7310 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 3398 OPEN INTEREST CONTRACTS IN CONJUNCTION WITH ANOTHER FAILED  BANKER SHORT COVERING. 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: 16.99 MILLION OZ!!!

RESULT: A STRONG SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE SMALL RISE OF 5 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 7310 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR JANUARY, 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

i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 8.07 points or 0.24% /Hang Sang CLOSED UP 78.66 pts or 0.25% / The Nikkei closed DOWN 83.47 POINTS OR 0.35%/Australia’s all ordinaires CLOSED DOWN 0.51%/Chinese yuan (ONSHORE) closed WELL UP at 6.4348/Oil UP to 63.48 dollars per barrel for WTI and 68.74 for Brent. Stocks in Europe OPENED ALL RED.   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4348. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.4364 //ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE SLIGHTLY WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS )

 

 

3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)/South Korea/North Korea/USA

b) REPORT ON JAPAN

3 c CHINA

ii)With the trade deficit with China rising with the lower dollar, you can expect that Trump may initiate a trade war

4. EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

A good look at the Ukrainian/Russia and USA situation with respect to the Crimea and Donbass that may trigger a cold war

( Turd Ferguson/TFMetalsReport)

 

6 .GLOBAL ISSUES

i)CANADA

Even though the Bank of Canada raised their interest rate by 25 basis points, the dollar fell due to warnings of NAFTA uncertainty

( zerohedge)

ii)YEMEN/SAUDI ARABIA

 

( zerohedge)

7. OIL ISSUES

8. EMERGING MARKET

9. PHYSICAL MARKETS

ii)A good summary of why silver will always be money

10. USA stories which will influence the price of gold/silver

e)Bannon’s one slip up and that may cause some grief to Trump’

( zerohedge)

f)The Inspector General of the uSA has concluded that the Awans used unathorized access to transfer congress data to a stolen server

( zerohedge)

Let us head over to the comex:

The total gold comex open interest ROSE BY A CONSIDERABLE  7341 CONTRACTS UP to an OI level of 582,333 WITH THE GOOD RISE IN THE PRICE OF GOLD ($2.30 GAIN WITH RESPECT TO YESTERDAY’S TRADING).   WE HAD ZERO COMEX GOLD LIQUIDATION  AND NO DOUBT WE WITNESSED SOME GOLD SHORT COVERING AT THE COMEX.   WE ALSO WITNESSED ANOTHER STRONG COMEX TRANSFER THROUGH THE EFP ROUTE. THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. THE CME REPORTS THAT A MONSTROUS 23,183 EFP’S WERE ISSUED FOR FEBRUARY , 0 EFP’s  FOR APRIL, AND 0 FOR DECEMBER:  TOTAL  23,183 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. THE COMEX IS NOW AN ABSOLUTE FRAUD!!

ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 30,530 OI CONTRACTS IN THAT 23,183 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 7341 COMEX CONTRACTS. NET GAIN ON THE TWO EXCHANGES: 30,530 contracts OR 3.0530 MILLION  OZ OR 94.96 TONNES

Result: A CONSIDERABLE  INCREASE IN COMEX OPEN INTEREST WITH THE RISE IN THE PRICE YESTERDAY’S GOLD TRADING ($2.30.) WE HAD NO GOLD LIQUIDATION AT THE COMEX. HOWEVER WE,  NO DOUBT WE HAD ANOTHER FAILED BANKER SHORT COVERING .. TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 30,530 OI CONTRACTS…

We have now entered the active contract month of JANUARY. The open interest for the front month of JANUARY saw it’s open interest FALL by 0 contracts REMAINING AT 40.  We had 12 notices served upon yesterday so we gained 12 contracts or an additional 1200 oz of gold will stand AT THE COMEX in this non active month of January AND QUEUE JUMPING INTENSIFIES.

FEBRUARY saw a LOSS of 5069 contacts DOWN to 319,889.  March saw a loss of 7 contracts down to 485.  April saw a GAIN of 10,533 contracts UP to 150,606.

We had 0 notice(s) filed upon today for NIL oz

PRELIMINARY VOLUME TODAY ESTIMATED; 374,337

FINAL NUMBERS CONFIRMED FOR YESTERDAY: 555,977

comex gold volumes are RISING AGAIN

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And now for the wild silver comex results.

Total silver OI FELL BY A CONSIDERABLE 3,912  CONTRACTS FROM 200,423 DOWN TO 196,511 WITH YESTERDAY’S GOOD 5 CENT GAIN.  AGAIN WE HAD CONTINUED FAILED BANKER SHORT COVERING.  NOT ONLY THAT, WE HAD ANOTHER HUGE SIZED 7310 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (AND ZERO FOR ALL OTHER MONTHS)  TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON: THE TOTAL EFP’S ISSUED: 7310. IT SURE LOOKS LIKE THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY. USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. WE HAD SOME LONG COMEX SILVER LIQUIDATION BUT A RISE IN TOTAL SILVER OI. WE ARE ALSO WITNESSING A FAIR AMOUNT OF SILVER OUNCES STANDING FOR COMEX METAL IN THIS NON ACTIVE JANUARY AS WELL AS THAT CONTINUAL MIGRATION OF EFPS OVER TO LONDON. ON A PERCENTAGE BASIS THERE ARE MORE EFP’S ISSUED FOR GOLD THAN SILVER.  ON A NET BASIS WE GAINED 3398 OPEN INTEREST CONTRACTS:

3912 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 7310 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN TWO EXCHANGES: 3398 CONTRACTS

We are now in the poor non active delivery month of January and here the OI LOST 47 contracts FALLING TO 63.  We had 31 notices served upon yesterday, so we lost 16 contracts or an additional 80,000 oz will not stand for delivery AT THE COMEX BUT THESE GUYS JOINED THEIR BRETHREN IN MORPHING INTO LONDON BASED FORWARDS.

February saw a LOSS OF 196 OI contracts FALLING TO 383. The March contract LOST 4402 contracts DOWN to 140,169.

We had 52 notice(s) filed for NIL 260,000 for the January 2018 contract for silver

For JANUARY:
Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

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To calculate the INITIAL total number of gold ounces standing for the JANUARY. contract month, we take the total number of notices filed so far for the month (449) x 100 oz or 44900 oz, to which we add the difference between the open interest for the front month of JAN. (40 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 48,900 oz, the number of ounces standing in this active month of JANUARY

Thus the INITIAL standings for gold for the JANUARY contract month:

No of notices served (449 x 100 oz or ounces + {(40)OI for the front month minus the number of notices served upon today (0 x 100 oz which equals 48,900 oz standing in this active delivery month of JANUARY (1.5109 tonnes). THERE IS 18.245 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE GAINED 12 CONTRACTS OR AN ADDITIONAL 1200 OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY

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ON FIRST DAY NOTICE FOR JANUARY 2017, THE INITIAL GOLD STANDING: 3.904 TONNES STANDING

BY THE END OF THE MONTH: FINAL: 3.555 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.

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I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.

IN THE LAST 14 MONTHS 70 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE DECEMBER DELIVERY MONTH

DECEMBER FINAL standings

we had no inventory movement at the dealer side of things

total inventory movement dealer: nil oz

we had 0 inventory deposits into the customer account

 

total inventory deposits: nil oz

we had 3 withdrawals from the customer account;

i) out of Brinks; 4131.15 oz

ii) Out of CNT: 28,086.980 oz

iii) Out of Scotia:  100,526.88 oz

total withdrawals;  132,745.01 oz

we had 0 adjustments

total dealer silver:  45.456 million

total dealer + customer silver:  246.352 million oz

The total number of notices filed today for the JANUARY. contract month is represented by 52 contract(s) FOR 260,000 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 625 x 5,000 oz = 3,125,000 oz to which we add the difference between the open interest for the front month of JAN. (63) and the number of notices served upon today (52 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JANUARY contract month: 625(notices served so far)x 5000 oz + OI for front month of JANUARY(63) -number of notices served upon today (52)x 5000 oz equals 3,180,000 oz of silver standing for the JANUARY contract month. This is VERY GOOD for this NONACTIVE delivery month of JANUARY.  WE LOST 16 CONTRACTS OR AN ADDITIONAL 80,000  OZ WILL NOT  STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY BUT THESE GUYS JOINED THEIR BRETHREN IN OBTAINING A LONDON BASED FORWARD. 

ON FIRST DAY NOTICE FOR THE JANUARY 2017 CONTRACT WE HAD 3,790 MILLION OZ STAND.

THE FINAL STANDING: 3,730 MILLION OZ

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ESTIMATED VOLUME FOR TODAY: 185,446

CONFIRMED VOLUME FOR FRIDAY:   129,233 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 129,233 CONTRACTS EQUATES TO  646.5 MILLION OZ OR 92.5% OF ANNUAL GLOBAL PRODUCTION OF SILVER

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44

end

NPV for Sprott 

 

1. Sprott silver fund (PSLV): NAV RISES TO -0.84% (Jan 17/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.65% to NAV (Jan 17/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -0.84%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.65%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott WINS hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

END

And now the Gold inventory at the GLD

Jan 17/no changes in gold inventory at the GLD/inventory rests at 828.96 tonnes

Jan 16/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.96 TONNES

Jan 12/no changes in inventory at the GLD despite the rise in gold price/inventory rests at 828.96 tonnes

Jan 11/ANOTHER IDENTICAL WITHDRAWAL OF 2.95 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 828.96 TONNES

Jan 10/with gold up today, a strange withdrawal of 2.95 tonnes/inventory rests at 831.91 tonnes

Jan 9/no changes in gold inventory at the GLD/Inventory rests at 834.88 tonnes

Jan 8/with gold falling by a tiny $1.40 and this being after 12 consecutive gains, today they announce another 1.44 tonnes of gold withdrawal from the GLD/

Jan 5/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.32 TONNES

Jan 4/2018/no change in gold inventory at the GLD/Inventory rests at 836.32 tonnes

Jan 3/a huge withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 836.32 tonnes

Jan 2/2018/no changes in gold inventory at the GLD/inventory rests at 837.50 tonnes

Dec 29/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES

Dec 28/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES

Dec 27/NO CHANGES IN GOLD INVENTORY AT THE GLD/ INVENTORY RESTS AT 837.50 TONNES

Dec 26/no change in gold inventory at the GLD

Dec 22/ A DEPOSIT OF 1.48 TONNES OF GOLD INTO GLD INVENTORY/INVENTORY RESTS AT 837.50 TONNES

Dec 21′ NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.02 TONNES

Dec 20/DESPITE THE GOOD ADVANCE IN PRICE TODAY/THE CROOKS RAIDED THE COOKIE JAR TO THE TUNE OF 1.18 TONNES/INVENTORY RESTS AT 836.02 TONNES

Dec 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.20 TONNES

Dec 18 SHOCKINGLY AFTER TWO GOOD GOLD TRADING DAYS, THE CROOKS RAID THE COOKIE JAR BY THE SUM OF 7.09 TONNES/INVENTORY RESTS AT 837.20 TONNES

Dec 15/NO CHANGES IN GOLD INVENTORY/RESTS AT 844.29 TONNES.

Dec 14/a good sized gain of 1.48 tonnes of gold into the GLD/inventory rests at 844.29 tones

Dec 13/no changes in gold inventory at the GLD/inventory rests at 842.81 tonnes

Dec 12/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 11/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD DESPITE THE CONSTANT RAIDS ON GOLD/INVENTORY RESTS AT 842.81 TONNES

Dec 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 7/A BIG WITHDRAWAL OF 2.66 TONNES FROM THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 6/No changes in GOLD inventory at the GLD/Inventory rests at 845.47 tonnes

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Jan 17/2018/ Inventory rests tonight at 828.96 tonnes

*IN LAST 310 TRADING DAYS: 111.99 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 245 TRADING DAYS: A NET 45.32 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory

Jan 17/no changes in silver inventory at the SLV/inventory rests at 316.348 million oz/

Jan 16/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.348  MILLION OZ

Jan 12/no changes in silver inventory at the SLV/inventory rests at 316.348 million oz/

Jan 11/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.348 MILLION OZ/

Jan 10/with silver up again, we had a huge withdrawal of 1.227 million oz from the SLV/inventory rests at 316.348 million oz

Jan 9/a withdrawal of 848,000 oz from the SLV/Inventory rests at 317.575 million oz/

jan 8/no change in silver inventory at the SLV/Inventory rests at 318.423 million oz/

Jan 5/DESPITE NO CHANGE IN SILVER PRICING, WE HAD A HUGE WITHDRAWAL OF 2.026 MILLION OZ/INVENTORY RESTS AT 318.423 MILLION OZ.

Jan 4.2018/a slight withdrawal of 180,000 oz and this would be to pay for fees/inventory rests at 320.449 million oz/

Jan 3/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.629 MILLION OZ.

Jan 2/WITH SILVER UP DRAMATICALLY THESE PAST 4 TRADING DAYS, THE FOLLOWING MAKES NO SENSE: WE HAD A WITHDRAWAL OF 2.83 MILLION OZ FROM THE SLV

INVENTORY RESTS AT 320.629 MILLION OZ/

Dec 29/no changes in silver inventory at the SLV/inventory rests at 323.459 million oz/

Dec 28/DESPITE THE RISE IN SILVER AGAIN BY 13 CENTS, WE LOST ANOTHER 1,251,000 OZ OF SILVER FROM THE SILVER.

Dec 27/WITH SILVER UP AGAIN BY 17 CENTS, WE LOST ANOTHER 802,000 OZ OF SILVER INVENTORY/WHAT CROOKS/INVENTORY RESTS AT 324.780 MILLION OZ/

Dec 26/no change in silver inventory at the SLV./Inventory rests at 325.582

Dec 21/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.227 MILLION OZ/

Dec 20/INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ (COMPARE WITH GLD)

Dec 19/SILVER INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ

Dec 18.2017//SILVER INVENTORY CONTINUES TO REMAIN PAT./INVENTORY REMAINS AT 326.337 MILLION OZ/

INVENTORY RESTS AT 326.337 TONNES

Dec 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.337 MILLION OZ/

Dec 14/a small withdrawal of 377,000 oz and that usually means to pay for fees./inventory rests at 326.337 million oz/

Dec 13/no change in silver inventory at the SLV/Inventory rests at 326.714 million oz/

Dec 12/WOW!ANOTHER STRANGE ONE: SILVER HAS BEEN DOWN FOR 10 CONSECUTIVE DAYS, YET THE SLV ADDS ANOTHER 1.415 MILLION OZ TO ITS INVENTORY. IN THAT 10 DAY PERIOD, SLV ADDS 9.584 MILLION OZ/

INVENTORY RESTS AT 326.714 MILLION OZ

Dec 11/WOW!! ANOTHER STRANGE ONE: SILVER DESPITE BEING DOWN FOR 9 CONSECUTIVE TRADING DAYS ADDS ANOTHER 944,000 OZ TO ITS INVENTORY. FROM NOV 30 UNTIL TODAY SILVER HAS BEEN DOWN EVERY DAY. HOWEVER THE INVENTORY OF SILVER HAS RISEN 8.169 MILLION OZ.

Dec 8/A HUGE DEPOSIT OF 2.642 MILLION OZ/INVENTORY RESTS AT 324.355 MILLION OZ/

Dec 7/strange!! with the continual whacking of silver, no change in silver inventory at the SLV/Inventory rests at 321.713

Dec 6/no change in silver inventory at the SLV/Inventory remains at 21.713 million oz.

Jan 17/2017:

Inventory 316.348 million oz

end

 

6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration

+ 1.74%
12 Month MM GOFO
+ 2.06%
30 day trend

end

Major gold/silver trading /commentaries for WEDNESDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER

END

 

Another Bitcoin exchange closes after regulatory crackdowns

(courtesy zerohedge)

---

3. ASIAN AFFAIRS

i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 8.07 points or 0.24% /Hang Sang CLOSED UP 78.66 pts or 0.25% / The Nikkei closed DOWN 83.47 POINTS OR 0.35%/Australia’s all ordinaires CLOSED DOWN 0.51%/Chinese yuan (ONSHORE) closed WELL UP at 6.4348/Oil UP to 63.48 dollars per barrel for WTI and 68.74 for Brent. Stocks in Europe OPENED ALL RED.   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4348. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.4364 //ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE SLIGHTLY WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS )

3 a NORTH KOREA/USA

NORTH KOREA/SOUTH KOREA/USA

 

Trump: it is very possible that the crisis with North Korea cannot be resolved peacefully

(courtesy zerohedge)

 

3 b JAPAN AFFAIRS

c) REPORT ON CHINA

 

China’s version of the Nasdaq, CHINEXT tumbles to 6 month lows as crypto related stocks crash

 

(courtesy zerohedge)

4. EUROPEAN AFFAIRS

 

Europe/Euro

 

Euro speculators are loading the boat on the long side as they are gearing up for the end of ECB QE which will end in September

 

(courtesy zerohedge)

Euro Speculators Amass The Greatest Long Positioning Ever

The last week saw speculators in the EURUSD FX futures market added dramatically to their long positions. In fact, as Bloomberg reports, hedge funds and other speculative investors have amassed the heaviest long positions on the euro ever, according to the latest CFTC data.

The G-10’s best currency in 2017 is getting fresh momentum from the prospect of a September end to European Central Bank stimulus and an upswing in growth.

However, the rates market is not reflecting that optimism…

 end

This is quite a hit:  USA banks over $1 billion on the big European Steinhoff collapse

(courtesy zerohedge)

US Banks Lose Over $1 Billion On Steinhoff Collapse

It’s not just the ECB that was humiliated  for holding Steinhoff bonds: so were all major US banks.

As we have documented this earnings season, one after another major US bank, from JPM, to Citi, to Bank of America and Goldman reported that they have suffered direct losses in the hundreds of millions on their exposure to the scandal-plagued company.

According to a Bloomberg summary, the 4 of the biggest US banks have revealed more than $1 billion in mark-to-market losses and charge-offs on margin loans and other debt tied to the embattled South African retailer in their Q4 results. Citigroup was at the top, with $370 million in losses, followed by Bank of America Corp.’s $292 million, JPMorgan with $273 million and Goldman with $130 million.

“Once in a while, something doesn’t turn out the way we want because that’s what the definition of taking risk is,” Bank of America CEO Brian Moynihan told reporters Wednesday, saying the incident wouldn’t change the lender’s risk appetite.

To an extent the losses and charge-offs were expected: one month ago we reported that global banks were on the hook for some $21 billion as part of the Steinhoff implosion. What is surprising, however, is seeing just how substantial the losses are when flowing through the P&L, and also how profound the artificial sense of security created among the banking community, in this case thanks to the ECB also being on the hook for losses due to its purchases.

The bigger question is what happens if and when other fallen angels suffer the same fate as Steinhoff, are downgraded from Investment Grade to junk, and are kicked out of the ECB’s balance sheet, forcing US banks to take losses as they did with Steinhoff.

How much of a problem will this be for Draghi, and US commercial banks? As we showed last month, Using S&P’s historical rating transition matrices, BofA estimates that €7bn of corporate bonds that the ECB own will end up as Fallen Angels prior to maturity (by bonds impacted, this is equivalent to €38bn of total outstanding debt). The chart below shows that over the last decade, the price drop severity of Fallen Angels has been declining. But if the ECB become a motivated seller of downgraded credits, we feel this dynamic could reverse.

In conclusion, and in Bank of America recently warned, credit investors should anticipate more pronounced price drops in names that migrate from IG to HY next year.

“After all, there may now be a big buyer (ECB) behind some of these credits that chooses to become a seller upon downgrade.”

The silver lining – if only for deep junk investors – is that Falling Knives, and further bank losses, may soon produce a source of technically cheap BBs for yield-starved investors to mull over. Then again, if for whatever reason the rug is pulled out from under the junk bond market, suddenly everything else will be surprisingly cheap too.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

A good look at the Ukrainian/Russia and USA situation with respect to the Crimea and Donbass that may trigger a cold war

(courtesy Turd Ferguson/TFMetalsReport)

 

The New Cold War In 2018

Authored by Turd Ferguson via TFMetalsReport.com

As mentioned at the beginning of this podcast, we are all indebted to John and Steve for their regular, weekly discussions.

Their podcasts offer the only fair and balanced coverage of The New Cold War that you will find anywhere in the western media. Rather than a simple regurgitation of the War Party line, John and Steve consider the conflict from the historical perspective of each side. Thus, in listening to them over the past four years, I almost feel as if I have participated in a graduate-level Russian Studies class.

Download Podcast (Right Click + ‘Save As’)

To be certain that this discussion is as widely-heard as possible, I’ve taken the additional step of transcribing portions of the audio.

We begin with Professor Cohen providing some historical background regarding Ukraine, Russia and the run-up of this New Cold War.

I’ve been working in print and broadcast about the onset of a new Cold War since late 1990s because I saw the Clinton administration’s intrusive policies and then Yeltsin’s Russia as generating a backlash that would lead the two countries to a replication or continuation of the 45-year cold war that Reagan and Gorbachev and then the first President Bush said they had ended in 1989-1990 and that has unfolded more or less in the worst ways that I worried about. I don’t think anybody would deny that they we’re in a new Cold War. I think they’re slow in acknowledging that it’s even more dangerous in various ways and reasons than was the 45-year cold war. But one reason is this was not the case during the old Cold War is that we are militarily eyeball-to-eyeball with Russia and on three new cold war fronts.

One, of course, is Ukraine which in a way is the epicenter but because of NATO’s I think reckless military buildup on Russia’s western borders particularly in the Baltic regions region but also to a certain extent in Syria where the situation is very fluid and still dangerous. The cold war could erupt into an actual hot war very easily. And I guess though the danger seemed maybe a year ago would be first and foremost in Syria because Ukraine since 1914 seemed rather frozen. Now it’s shifted back to Ukraine. We’ve got to stop and think what that means. Ukraine as a nation and then as a state following the end of the Soviet Union in 1991 was always fraught with historical religious, ethnic, economic, and political divisions. Simply holding Ukraine together as a unitary state was going to be a problem but everyone managed. It wasn’t pretty but they managed until the events of 2014 when we all remember the Maidan protest and let’s remember what they were about…the legally-constitutionally elected president of Ukraine, Viktor Yanukovych, declined to sign a so-called European Union partnership agreement.

It was just said to be civilizational and economic and it was said that that would bring Ukraine into European civilization and of course away from Russia. Now Ukraine and Russia had been bound at the hip. People don’t mention this often but there are tens of millions of intermarriages. It’s hard not to go to Moscow and spend some time and not find someone who’s got a Ukrainian and Russian parent or grandparent. But this happened and it also needs to be removed reminded that Yanukovych did not refuse to sign that agreement. He simply asked for more time. But that set off protests driven by all sorts of people. Some benign democratic seeking Liberals, fine people in Ukraine, but also by people who were by any definition ultra-nationalists and even quasi-fascist neo-nazis. And that led of course to the confrontation where Yanukovych was driven illegally off.

A new, illegal government was formed backed by the United States and Europe. Russia for various reasons that I think were legitimate feared that the unrest would spread to the historical Russian peninsula of Crimea which for most of its history for centuries had been part of Russia. But because of a kind of fluke, was now territorially part of Ukraine. The Russians therefore welcomed and encouraged a referendum in Crimea. By all standards including Gallup polls that were taken later, more than 80 percent voted to join Russia. And so Russia legally annexed in 2014…they don’t call it annex, they call it reunited with Crimea.

Meanwhile, the mostly Russian provinces of Donbass, part of Crimea objected to the coup in Kiev that had overthrown the president. They had voted for Yanukovych. His electorate was not only in southeastern Ukraine but it was primarily there. So they believed that their president had been overthrown and a rebellion began backed by Russia of course. And the war has gone on now nearly four years. The official number of dead is 10,000 but it’s surely many more and perhaps 2 million people who lived in southeastern Ukraine have been displaced most of them gone to Russia. Incidentally, Russia gets no credit for the very humanitarian way they have handled all these people, refugees who fled to Russia. Now of course it was easier because they were Russian speakers. But a great many of them have rebuilt their lives. Vocationally and in terms of their family in Russia. And whether they’ll ever go back to Ukraine is not clear. So that’s where the situation was kind of frozen.

There was this agreement as you know called the Minsk 2 agreement that all the European powers agreed to there. The president of Ukraine, Poroshenko, agreed to it and that Putin agreed too for resolution of the crisis. And it called for two things…a cessation along a designated line of the fighting and Kiev’s agreement that Donbass would be given home rule. To remain within what would essentially be a federated Ukrainian state. No one has ever suggested a better or alternative solution to that. During the years since Minsk was formalized in 2015, by all evidence it seems both sides have violated the agreement. But Kiev has refused to grant any home rule to the rebel provinces and that we know from history whether it’s from the Irish civil war or other diverse countries is the only way to save a state is to make it a federation.

But the opposition to it in Ukraine among ultra-right is enormous. President Poroshenko is weak both as a person and as a leader and in terms of his public support at home. The United States has done nothing to encourage the real implication of Minsk. And so it remains this hot front. And one could imagine all sorts of bad outcomes because it’s now a proxy war in Donbass that is the rebels were backed by Russia. Kiev is backed by the United States and that proxy war could become a direct war. And a final point and this has been long winded but when is that ever since Obama was trying to figure out what to do about Ukraine. The idea of the United States sending more and higher quality weapons to Kiev. To presumably suppress the rebellion in Donbass though formally it said to ward off a new Russian attack of which there is no evidence or intention. Obama refused to do it (send heavy weapons). He was under enormous pressure especially from the liberal wing of the Democratic Party which has become very hawkish and he refused to do that.

It seemed clear from Donald Trump’s campaign that he would never do it because he wanted to cooperate with Russia. And yet he has been compelled I think to agree to send weapons to Kiev when and what they’ll send isn’t yet clear but he can only make matters worse really matters worse. And that’s where we are today.

The discussion then turns to the present day.

The narrative in the west is that Russia seized Crimea as some sort of post-Soviet expansion, where Putin must be stopped as he is desperately trying to recreate the borders of the old Soviet Union. At TFMR, we have always felt that this was bogus and that it failed to acknowledge any context from the Russian point of view.

Professor Cohen resumes:

The situation from the Russian point of view was even worse. I mean Crimea…and for to understand this you have to know Russian history, know Russians and know Crimea…Crimea historically, culturally was such a part of Russia for so many centuries right through the Soviet period that it would be….this is a bit of a stretch as if to say that Texas because it once belonged to Mexico…was not authentically, indigenously a native part of America. But even more because the cultural romance of Crimea. The site, I mean the home of Chekov’s dacha was in Yalta. It’s iconic in Russian history, Russian culture and Russian sentiment.

It wasn’t just the naval base at Sebastopol which was vitally important, although the Russians which had been leasing the naval base and by the way what happened at Maidan called into question whether Kiev would honor that long term lease any longer. You’re absolutely right about that. Russia was building in the far north an alternative naval base. I mean technically it could have replicated Crimea strategically it could have done this but it could never have replicated Crimea in the hearts and minds of Russians. And, as poll after poll and the referendum showed in the hearts and minds of some 80 percent of the Crimean people. Now Crimea also has Tartar Crimeans and Ukrainians who don’t share this view. But the overwhelming majority of Crimeans who were born there or moved there or lived there for decades, that was their sentiment.

Now here’s the political background. Nonetheless in all the years I’ve followed post Soviet Russia, beginning in 1991, I never saw any Kremlin leadership give any indication that it was going to take Crimea back. Let me repeat that. You could not find, certainly not in the public record…who knows what…dreams…you know these kinds of people have in the Pentagon and elsewhere secretly in the dark of the night. But neither Yeltsin nor Putin ever gave any public support to the idea which you could find in Moscow and some intellectual circles that you know, Crimea is ours.

In fact, at one point they needed to draw new maps because Crimea was now no longer in Russia after 1991. AndPutin wrote to the president of Crimea…I don’t recall which one it was saying “hey our map people want to get on with the new maps could you get your map people to work with them because there’s a number of borders that aren’t clear and we’ve got to clarify them”. And he got no response. In other words, the notion that Crimea might be taken or even negotiated back into Russia simply was not on the political agenda for the Kremlin under Putin until 2014.

The final segment of the discussion deals with the future. +

 

More specifically, what if anything can be done by you and I…regular everyday people…to effect change and divert the War Partyfrom this path of destruction?

Professor Cohen had some thoughts there, too.

I’m not a Trump supporter and I didn’t vote for him. However, we can actually support Donald Trump’s campaign promise which I think he’s tried to act on since he’s been president that it’s necessary to cooperate with Russia.

This is what was called detente in the 20th century.

I don’t know why Trump doesn’t make this point. I don’t think he has very good advisors in regard to Russia either in terms of what’s going on in Russia or in terms of his own policy making but Trump might say in his own defense because they’re indicting him for simply saying I want to cooperate with Russia and with Putin in particular.

He could say look, every Republican president of consequence in the 20th century pursued detente with Russia. First Eisenhower, the first detente the spirit of Camp David with Khrushchev, then the Nixon Kissinger attempt at a grand detente with Brezhnev and finally above all Ronald Reagan a detente with Gorbachev the last Soviet leader Soviet Russian leader so great that Reagan and Gorbachev ended the cold war.

Trump could put himself in that tradition and say “I’m the traditional Republican. This is what Eisenhower, Nixon and Reagan did. They did it wisely. They avoided nuclear war with Russia. We’re in a new Cold War. The dangers are grave. It’s not only my duty as the American president to pursue cooperation to ward off a catastrophe but I commend the honorable tradition of the Republican Party”.

He doesn’t say that. I don’t know why as I say it because he doesn’t know what or because he wants to be the one and only I have no idea what he needs to say.

And if he said it it would compel a conversation in Washington that we’re not having. What’s happened to detente and what’s happened is we have if we ignore his own idiom and put it in again I speak as a story in the historical language of 20th century diplomacy.

We have a pro-detente President who for the first time in history is not permitted to at least try because every time he has a sensible conversation with Putin, no matter whether it’s face to face or on the telephone, he’s accused not only by the traditionally crazies in American politics but by the New York Times of treason.

So what we could do and it will be hard for a lot of people because of the loathing for Trump. Is so pervasive just and I didn’t vote for Trump is the fifth amendment I didn’t vote for Trump and I didn’t support President Trump.

But about this he is not only right. He’s our only hope at the moment.

So one possibility is simply to say no matter all else we support Donald Trump’s attempt to cooperate with Russia because it’s existential. Now would enough of us do that would a few newspapers do that? Would a few of these cable TV panelists? Would they ever have panelist on who would do that? We might affect a little civic courage in Congress where a few people there would do so also. But at the moment you have a complete blackout on this perspective in the American political media arena and you have an utter lack of civic courage among political figures and editors who know better but have been frightened by this rush to do business unfortunately and that’s a pretty good summation.

Obviously, at 49 minutes, there’s A LOT more information here than what I’ve transcribed. Therefore I beg you, please take the time this weekend to listen to this full podcast. Then, when you’re finished, please forward the audio to someone you know.

Only through some sort grassroots dialogue will we be able to prevail against The War Party and their march toward confrontation with Russia.

As Professor Cohen states, we face a very real and existential threat from this New Cold War. We must do all we can do to stop it before it becomes an out-of-control, hot war.

6. GLOBAL ISSUES

 

Even though the Bank of Canada raised their interest rate by 25 basis points, the dollar fell due to warnings of NAFTA uncertainty

 

(courtesy zerohedge)

7. OIL ISSUES

 

Both oil and gasoline gain after a larger than expected draw

 

(courtesy zerohedge)

WTI/RBOB Extend Gains After Bigger Than Expected Crude Draw

Crude edged higher as OPEC showed increased determination to curb production and tighten markets ahead of inventory data tonight, but extended gains after API reported a bigger than expected crude draw (9th in a row).

 

API

• Crude -5.121mm (-3.15mm exp)
• Cushing -3.936mm (2.5mm exp)
• Gasoline +1.782mm
• Distillates +609k

This is the 9th straight week of crude draws and gasoline builds…

 

There could be some weather-impact in this data as Bloomberg notes that at least two Gulf Coast refineries aren’t producing product because of issues related to sub-freezing temperatures sweeping across the South while multiple other sites are having cold-related upsets.

 

“The market continues to take support from signs that OPEC and Russia’s compliance with their production cuts is really high and it doesn’t seem that there are any worries that there is cheating going on yet,” Gene McGillian, a market research manager at Tradition Energy in Stamford, Connecticut, said by telephone.

Prices were higher on the day but limped into the API data as the Dollar spiked but resumed climbing after the bigger than expected crude draw.

 

“WTI is continuing to outperform Brent as the reductions at Cushing have been really pronounced,” Thomas Finlon, director of Energy Analytics Group LLC in Wellington, Florida, said by telephone.

8. EMERGING MARKET

 end

And now your more important USA stories which will influence the price of gold/silver

TRADING IN GRAPH FORM FOR THE DAY

END

 

Initial trading Wednesday morning:  Deja Vu all over again

(courtesy zerohedge)

 

end

 

Afternoon trading; the dollar plummets;

end

 

The outlook for Ford is not too good as they miss estimates

 

(courtesy zerohedge)

end

 

Goldman Sachs like other major banks reports its worst revenue in 2 years due to bond trading crashing by 50%

(courtesy zerohedge)

 

 

end

 

Hard data industrial production surged .9% month/month

 

(courtesy zerohedge)

 

 

SWAMP STORIES

 

CNN’s Jim Acosta gets thrown out of the Oval office over the “shitgate” questions

(courtesy zerohedge)

 

END

 

According to this former CIA officer Kevin Shipp, Trump has declared war on the so called Deep State and shadow government of the uSA,  This is why the Deep state wants Trump gone and thus the constant media bombardment on negative stories on the President.

 

(courtesy KevinShipp/Greg Hunter/USAWatchdog)

end

 

FBI agents hand deliver a Mueller subpoena to Steve Bannon’s home

 

(courtesy zerohedge)

end

 

Another great interview of Dr Dave Janda and Greg Hunter

 

a must view

 

Reset Rule of Law – Dr. Dave Janda

By Greg Hunter On January 17, 2018 In Political Analysis

By Greg Hunter’s USAWatchdog.com

Dr. Dave Janda is a radio host and a patriot who is a Washington outsider with insider contacts. Janda says a new Inspector General’s report will be the beginning of the reset of the rule of law. Janda explains, “Comey, Lynch and Clinton are now in the crosshairs, and I believe that’s accurate. Many people believe that the Inspector General’s report was not going to happen and was not going to be turned in. 1.2 million pages were delivered to Congress. . . . The reason why this report is important is, I believe, it will reset the rule of law in this country. The rule of law in this country has been abandoned. It has been massacred by the globalists. That was not by accident–it was by intent. The rule of law was used to persecute people that were freedom fighters and against the globalist system . . . they were shoved to the side, and the globalists, such as the Clintons, the Bushes or the Obamas, or their puppets like Soros, and all these other puppets of the globalists, could act out the globalist game plan. What this Inspector General’s report, I believe and many people believe, will lead to is a significant escalation of what the rule of law should be.”

Janda goes on to say, “The Inspector General’s report is going to unearth collusion in the Justice Department and the FBI about the possible re-engineering of the election results in 2016. It will show the illegal surveillance, not just of Trump, but of millions of Americans whose 4th amendment rights were violated. It’s going to reopen the Clinton Foundation and their pay-to- play program. Uranium is just a part of that and, remember, 20% of the uranium production in the United States was delivered to Russia. . . . The Inspector General’s report will also open Hillary’s emails.”

So, are there going to be mass arrests and prosecutions? Janda says, “I believe that it’s going to happen, and I know people are saying that it’s pure fantasy and that it’s just not going to happen. . . . One of most effect control mechanisms is the human trafficking pedophile situation. The media won’t report on this because they are part of it . . . . Look at the CIA’s Operation Mocking Bird where they have infiltrated every aspect of the media to deliver the globalist message. They are complicit in it.”

There are big changes coming to Washington, and Janda says Americans cannot remain quiet. Janda says, “People cannot be bench players any longer. Everyone listening needs to be calling Congress, Senators, their Governors, and all they have to say is this: We’re watching you, and we want you to finally do what is right for every person in this country.”

Join Greg Hunter as he goes One-on-One with Dr. Dave Janda, host and creator of the popular radio show “Operation Freedom.”

Video Link

https://usawatchdog.com/reset-rule-of- law-dr-dave-janda/

-END-

 

 

I will  see you THURSDAY night

HARVEY