GOLD: $1346.90  DOWN $ 1.00  (COMEX TO COMEX CLOSINGS)

Silver: $16.78 UP 10 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1347.50

silver: $16.78

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:0 NOTICE(S) FOR nil OZ.

TOTAL NOTICES SO FAR 663 FOR 66300 OZ (2.062 tonnes)

THE COMEX IS OUT OF GOLD

For silver:

APRIL

115 NOTICE(S) FILED TODAY FOR

575,000 OZ/

Total number of notices filed so far this month: 379 for 1,895,000 oz

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Bitcoin: BID $8039/OFFER $8139: up $32(morning)

Bitcoin: BID/ $7862/offer 7962: DOWN $146  (CLOSING/5 PM)

 

end

I will be reporting on the Shanghai gold fix as I can now attest to it’s accuracy:

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix:  2:15 pm

TOMORROW I WILL PROVIDE BOTH FIXES.

Second gold fix early this morning:1353.83

USA gold at the exact same time:  1346.60

PREMIUM TO NY SPOT:  $7.23

AGAIN, SHANGHAI REJECTS NEW YORK PRICING.

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

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In silver, the total OPEN INTEREST SURPRISINGLY FELL AGAIN  BY A CONSIDERABLE  3817 CONTRACTS FROM  217,817  FALLING TO 214,000  DESPITE YESTERDAY’S 7 CENT RISE IN SILVER PRICING.  WE AGAIN HAD CONSIDERABLE COMEX LIQUIDATION  AND FOR SURE BANK SHORTCOVERING AT THE COMEX. WE WERE AGAIN NOTIFIED THAT WE HAD A SMALL SIZED  NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP :  555 EFP’S FOR MAY AND 207 FOR JULY AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE OF 762 CONTRACTS.   WITH THE TRANSFER OF 762 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 24-48 HRS IN THE ISSUING OF EFP’S. THE 768 EFP CONTRACTS TRANSLATES INTO 3.810 MILLION OZ  ACCOMPANYING THE RISE IN  SILVER PRICE AT THE COMEX AND THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR APRIL COMEX DELIVERY.

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF APRIL:

33,744 CONTRACTS (FOR 12 TRADING DAYS TOTAL 33,744 CONTRACTS) OR 168.720 MILLION OZ: AVERAGE PER DAY: 2,812 CONTRACTS OR 14.060 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  168.720 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 24.10% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  887.205 MILLION OZ.

ACCUMULATION FOR JAN 2018:                        236.879 MILLION OZ

ACCUMULATION FOR FEB 2018:                        244.95 MILLION OZ

ACCUMULATION FOR MARCH 2018:                236.67 MILLION OZ

RESULT: WE HAD A CONSIDERABLE SIZED LOSS IN COMEX OI SILVER COMEX OF 3817  DESPITE THE 7 CENT GAIN IN SILVER PRICE. WE MUST HAVE HAD SOME SHORTCOVERING BY THE BANKERS AS A SMALL AMOUNT OF THE LOST COMEX OPEN INTEREST LANDED IN LONDON AS FORWARDS.  THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 762 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) . FROM THE CME DATA 535  EFP’S  FOR THE  MONTH OF MAY AND 207 EFP CONTRACTS FOR JULY,  WERE ISSUED FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.    WE LOST  3055 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 762 open interest contracts headed for London (EFP’s) TOGETHER WITH AN DECREASE OF 3817  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 7 CENTS AND A CLOSING PRICE OF $16.68 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON ACTIVE APRIL DELIVERY  MONTH.

In ounces AT THE COMEX, the OI is still represented by WELL OVER 1 BILLION oz i.e. 1.070 BILLION TO BE EXACT or 152% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 115 NOTICE(S) FOR 575,000 OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51  ON APRIL 9.2018.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH 27 MILLION OZ AND APRIL 1.8 MILLION OZ)
2. HUGE RECORD OPEN INTEREST IN SILVER  243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION

AND YET WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest  ROSE BY AN FAIR SIZED 2699 CONTRACTS UP TO 509,128 WITH THE SMALL GAIN IN PRICE/YESTERDAY’S TRADING ( RISE OF $2.80).  WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 9736 CONTRACTS :   JUNE SAW THE ISSUANCE OF 9736 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS  AND ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 509,823. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI  TOGETHER WITH  THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A GOOD SIZED  OI GAIN IN CONTRACTS ON THE TWO EXCHANGES 2699 OI CONTRACTS INCREASED AT THE COMEX AND AN STRONG  SIZED 9736 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS  TOTAL OI GAIN: 12,435 CONTRACTS OR 1,243,500 OZ = 38.678 TONNES.

YESTERDAY, WE HAD 10,403  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 130,927 CONTRACTS OR 13,092,700  OZ OR 407.23 TONNES (12 TRADING DAYS AND THUS AVERAGING: 10,910 EFP CONTRACTS PER TRADING DAY OR 1,091,000 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 12 TRADING DAYS IN  TONNES: 407.23 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 407.23/2550 x 100% TONNES =  15.96% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  2,451.17 TONNES

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018:                741.89 TONNES

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE. 

Result: A FAIR SIZED INCREASE IN OI AT THE COMEX OF 2699 WITH THE RISE IN PRICE // GOLD TRADING YESTERDAY ($2.80 GAIN). HOWEVER, WE HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9736 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX.  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 9736 EFP CONTRACTS ISSUED, WE HAD A GOOD SIZED NET GAIN OF 12,435 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES: 

9736 CONTRACTS MOVE TO LONDON AND 2699 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 40.83 TONNES).

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

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

GLD

WITH GOLD DOWN  $1.00 :  WE HAD NO  CHANGES IN GOLD INVENTORY AT THE GLD/

Inventory rests tonight: 865.89 tonnes.

SLV/

WITH SILVER UP 10 CENTS TODAY: NO  CHANGES/ 

/INVENTORY RESTS AT 320.196 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 3817 CONTRACTS from 217,817 DOWN TO 214,000 (AND AWAY FROM THE  NEW COMEX RECORD SET YESTERDAY/APRIL 9/2017). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 ALMOST ONE YEAR AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

 THE RATHER LARGE COMEX LOSS OF 3817 CONTRACTS, OCCURRED DESPITE THE RISE IN PRICE OF SILVER (7 CENTS//). THE COMEX OPEN INTEREST HAS FALLEN FOR 6 CONSECUTIVE DAYS.  HOWEVER  OUR BANKERS ALSO USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 555 EFP CONTRACTS FOR MAY  (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 207 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE:  762 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  OI LOSS AT THE COMEX OF 3817 CONTRACTS TO THE 762 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A SMALL NET LOSS 3055 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES:  15.275 MILLION OZ!!! AND THIS OCCURRED WITH A RISE IN PRICE OF 7 CENTS.  THE BANKERS ARE CAPITULATING AS THEY DESPERATELY TRY AND PARE THEIR GIGANTIC OPEN INTEREST SHORT.

RESULT: A LARGE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE RISE IN SILVER PRICING / YESTERDAY (7 CENTS/) . BUT WE ALSO HAD ANOTHER SMALL SIZED 762 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR APRIL, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN 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)TUESDAY MORNING/MONDAY NIGHT: Shanghai closed DOWN 43.85 POINTS OR 1.41%  /Hang Sang CLOSED DOWN 252.84 POINTS OR 0.83%   / The Nikkei closed UP 12.06 POINTS OR 0.06%/Australia’s all ordinaires CLOSED UP .02% /Chinese yuan (ONSHORE) closed UP at 6.2834/Oil DOWN to 66.69 dollars per barrel for WTI and 71.81 for Brent. Stocks in Europe OPENED IN THE RED    .   ONSHORE YUAN CLOSED UP AT 6.2834 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2773 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING  A LITTLE STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

SOUTH KOREA/NORTH KOREA

i)North Korea/South Korea

b) REPORT ON JAPAN

3 c CHINA

4. EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

iii)This is interesting:  The Russians find a chemical weapons lab right inside the rebel held section of Douma.  The USA side states that the Russians have somehow hid this…do not make this up

(courtesy zerohedge)

6 .GLOBAL ISSUES

7. OIL ISSUES

8. EMERGING MARKET

9. PHYSICAL MARKETS

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

( zerohedge)

Trading Volumes on the COMEX

PRELIMINARY COMEX VOLUME FOR TODAY:265,609  contracts

CONFIRMED COMEX VOL. FOR YESTERDAY: 277,452 contracts

comex gold volumes are RISING AGAIN

Here is a summary of the latest gold trading volumes at the Comex per year

certainly the introduction of EFP’s has certainly had an effect:

Meanwhile, gold-trading volumes on the COMEX have never been higher:

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And now for the wild silver comex results.

Total silver OI FELL AGAIN BY 3817 CONTRACTS FROM 217,817 DOWN TO 214,000 (AND AWAY FROM THE NEW RECORD OI FOR SILVER SET APRIL 9.2018)  DESPITE THE 7 CENT RISE IN SILVER PRICING.  HOWEVER, WE  ALSO WERE ALSO INFORMED THAT WE HAD A SMALL 693 EMERGENCY EFP’S FOR MAY ISSUED BY OUR BANKERS: 75 EFP CONTRACTS ISSUED FOR JULY 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: 762.  WE SURPRISINGLY AND SHOCKINGLY AGAIN HAD CONTINUAL LONG COMEX SILVER LIQUIDATION.   ON A NET BASIS WE LOST 3055 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 3817 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 762 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET LOSS  ON THE TWO EXCHANGES:3055 CONTRACTS 

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the non active delivery month of April and here the front month LOST 5 contracts FALLING TO  211 contracts.  We had 120 notices filed upon  so in essence we GAINED 115 contracts or 575,000 additional ounces of silver will  stand for delivery in this non active delivery month of April AS SOMEBODY WAS IN URGENT NEED OF SILVER.

The next big active delivery month for silver will be May and here the OI LOST 6690 contracts DOWN to 98,037. June saw a LOSS of 4 contracts to stand at 95.  The next big delivery month for silver is July and here the OI ROSE by 3057 contracts UP to 78,855.

We had 115 notice(s) filed for 575,000 OZ for the APRIL 2018 contract for silver

IN THE LAST 18 MONTHS 72 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE APRIL DELIVERY MONTH

APRIL INITIAL standings/SILVER

we had 0 inventory movement at the dealer side of things

total dealer deposits:  nil oz

we had 0 deposits into the customer account

i) Into JPMorgan: nil oz

*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.

JPMorgan now has 140 million oz of  total silver inventory or 53.4% of all official comex silver. (140 million/263 million)

JPMorgan did not  deposit  into its warehouses (official) today.

ii) INTO EVERYBODY ELSE:  ZERO OZ

total deposits today: ZERO  oz

we had 1 withdrawals from the customer account;

i) out of JPMorgan; 605,295.100 oz

total withdrawals;  605,295.100   oz

we had 0 adjustment

total dealer silver:  61.363 million

total dealer + customer silver:  263.191 million oz

The total number of notices filed today for the APRIL. contract month is represented by 115 contract(s) FOR 575,000 oz. To calculate the number of silver ounces that will stand for delivery in APRIL., we take the total number of notices filed for the month so far at 379 x 5,000 oz = 1,895,000 oz to which we add the difference between the open interest for the front month of April. (211) and the number of notices served upon today (115 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the APRIL contract month: 379(notices served so far)x 5000 oz + OI for front month of April(211) -number of notices served upon today (115)x 5000 oz equals 2,275,000 oz of silver standing for the April contract month 

WE GAINED 115  SILVER CONTRACT OR 575,000 ADDITIONAL OUNCES WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF APRIL AS SOMEBODY WAS IN URGENT NEED OF PHYSICAL SILVER.

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ESTIMATED VOLUME FOR TODAY: 96,979 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 92,910 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 92,910 CONTRACTS EQUATES TO  464 MILLION OZ OR 66.3% 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 -1.92% (APRIL 17/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.51% to NAV (APRIL 17/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -1.92%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.51%/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)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV RISES TO -2.40%: NAV 13.90/TRADING 13.58//DISCOUNT 2.42.

END

And now the Gold inventory at the GLD/

APRIL 17/WITH GOLD DOWN $1.00 NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 16/WITH GOLD UP$2.80/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 13/WITH GOLD UP $6.15, A HUGE DEPOSIT OF 5.90 TONNES INTO THE GLD INVENTORY/INVENTORY RESTS AT 865.89 TONNES

April 12/WITH GOLD DOWN $17.40/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

April 11/WITH GOLD UP $13.85/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859,99 TONNES

APRIL 10/WITH GOLD UP $5.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

APRIL 9/WITH GOLD UP$4.50/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

APRIL 6/WITH GOLD UP $7.50 ,A HUGE CHANGE IN INVENTORY AT THE GLD/ A DEPOSIT OF 5.90 TONNES/INVENTORY RESTS AT 859.99 TONNES

APRIL 5/WITH GOLD DOWN $8.20 WE HAD TWO ENTRIES: 1) TINY WITHDRAWAL OF .28 TONNES TO PAY FOR FEES AND 2) A DEPOSIT OF 2.06 TONNES//INVENTORY RESTS AT 854.09 TONNES

April 4/WITH GOLD UP $2.90 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.31 TONNES

APRIL 3./WITH GOLD DOWN $9.30 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.31 TONNES

APRIL 2/WITH GOLD UP $19.50, WE HAD A BIG  CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 6.19 TONNES/INVENTORY RESTS AT 852.31 TONNES

MARCH 29/WITH GOLD DOWN $3.20 AND OPTIONS EXPIRY FINISHED, WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS A 846.12 TONNES

March 28/WITH GOLD DOWN $16.70, ANOTHER RAID ORCHESTRATED, AGAIN NO SURPRISES AS WE WITNESS ANOTHER 1.18 TONNES OF GOLD REMOVED/INVENTORY RESTS AT 846.12 TONNES

MARCH 27/WITH GOLD DOWN $11.70 AND A RAID INITIATED, IT WAS NO SURPRISE TO SEE THAT A MASSIVE WITHDRAWAL OF 3.24 TONNES WAS USED IN THE ABOVE RAID/INVENTORY RESTS AT 847.30 TONNES

MARCH 26./WITH GOLD UP $4.60/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES

MARCH 23/WITH GOLD UP $23.30/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES

MARCH 22.WITH GOLD UP $5.90, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES/

MARCH 21/WITH GOLD UP $9.65 NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES

March 20/WITH GOLD DOWN $5.75, A SURPRISING HUMONGOUS DEPOSIT OF 10.32 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 850.64 TONNES/

SO FAR, FOR THE MONTH OF MARCH, THE GLD HAS ADDED 19.61 TONNES WITH A NET LOSS OF $17.45

March 19/WITH GOLD UP $5.25: ANOTHER HUGE DEPOSIT OF GOLD TO THE TUNE OF 2.07 TONNES/GOLD INVENTORY RESTS TONIGHT AT 840.22 TONNES

MARCH 16/WITH GOLD DOWN $5.65/OUR CROOKS DEPOSITED ANOTHER 4.42 TONNES INTO GLD INVENTORY/INVENTORY RESTS AT 838.15 TONNES

FOR THE WEEK: GOLD LOST  $11.80, BUT GOLD INVENTORY ADVANCED:4.42 TONNES

MARCH 15/WITH GOLD DOWN $7.85, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 14/WITH GOLD DOWN $1.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 13/WITH GOLD UP $6.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

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APRIL 17/2018/ Inventory rests tonight at 865.89 tonnes

*IN LAST 363 TRADING DAYS: 75.15 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 313 TRADING DAYS: A NET 81.15 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory/

APRIL 17/WITH SILVER UP 10 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS  AT 320.196 MILLION OZ

April 16/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 13/WITH SILVER UP 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ.

April 12/WITH SILVER DOWN 27 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 11/2018/WITH SILVER UP 16 CENTS:  NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 10/WITH GOLD UP 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 9/WITH SILVER UP 12 CENTS/WE HAD NO CHANGES IN SILVER INVENTORY/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 6/WITH SILVER UP 4 CENTS, WE HAD A HUGE DEPOSIT OF 1.319 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 320.196 MILLION OZ

APRIL 5/WITH SILVER UP 6 CENTS/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 318.877 MILLION OZ/

April 4/WITH SILVER DOWN 11 CENTS/A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHRAWAL OF 135,000 OZ AND THIS IS PROBABLY TO PAY FOR FEES/INVENTORY RESTS AT 318.877 MILLION OZ/

APRIL 3./WITH SILVER DOWN 16 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

APRIL 2/WITH SILVER UP 34 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 29/WITH SILVER UP 6 CENTS, THE CROOKS DECIDED THAT THEY HAD BETTER ADD SOME 943,000 PAPER OZ TO THEIR INVENTORY/INVENTORY RESTS AT 319.012 MILLION OZ

March 28/WITH SILVER DOWN 27 CENTS/AGAIN NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ

MARCH 27/WITH SILVER DOWN 14 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

WITH SILVER UP 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 23/WITH SILVER UP 19 CENTS, A HAD A BIG WITHDRAWAL OF 1.602 MILLION OZ.INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 22/WITH SILVER DOWN ONE CENT, NO CHANGE IN SLV INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

March 21/WITH SILVER UP 21 CENTS/NO CHANGE IN SLV INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

March 20/WITH SILVER DOWN 13 CENTS/NO CHANGE IN SLV INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

March 19/WITH SILVER UP 5 CENTS, THE SLV ADDS A SMALL 659,000 OZ TO ITS INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

MARCH 16/WITH SILVER DOWN 15 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ.

FOR THE WEEK;  SILVER IS DOWN 42 CENTS YET ADDS 943,000 OZ OF SILVER INTO THE SLV/

MARCH 15/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 14/WITH SILVER DOWN 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 13/WITH SILVER UP 10 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

HAD ANOTHER HUGE ADDITION OF 1.315 MILLION OZ/INVENTORY RESTS AT 316.590 MILLION OZ/

APRIL 17/2018:  A NO CHANGES IN SILVER INVENTORY:  

Inventory 320.196 million oz

end

6 Month MM GOFO 2.04/ and libor 6 month duration 2.51

Indicative gold forward offer rate for a 6 month duration/calculation:

G0FO+ 2.04%

libor 2.51 FOR 6 MONTHS/

GOLD LENDING RATE: .46%

XXXXXXXX

12 Month MM GOFO
+ 2.75%

LIBOR FOR 12 MONTH DURATION: 2.51

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.24

end

Major gold/silver trading /commentaries for TUESDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER

London House Prices See Fastest Quarterly Fall Since 2009 Crisis

17, April

– London house prices fell by 3.2% in the first quarter – Halifax
– Brexit, financial and geo-political uncertainty lead to falls
– Excluding sale of seven £10m-plus houses in London, prices were down 3.4% in the year
– UK house prices climb by just 0.4% in April, the slowest increase since 2008 for same period
– Sales transactions fall by 19% and asking versus selling prices show turning into buyers’ market
– Homeowner or not, buy physical gold to hedge falls in physical property

Editor: Mark O’Byrne

London house prices declined at the sharpest pace in nine years during the first quarter of 2018, the latest data from  Halifax shows.

London house prices fell by 3.2% in the first three months of the year according to the Halifax House Price Index. This was the fastest rate of decline since the UK and global financial crisis in 2009.

The average London house price fell to £430,759, its lowest since the end of 2015.

Average prices of London property continued to drop this month with house prices in the capital down by 0.6%, contributing to an overall fall of 2% for the year.

The UK property market has remained more resilient so far. The national average asking price for properties appearing for the first time was up by 0.4%. Six of the eleven major UK regions reached individual property price highs.

In London sellers are no longer achieving the asking price. The days of buyers outbidding one another seem long gone.

Anecdotally, a friend selling a 2-bed flat in West London’s Putney has had to lower the price from £595,000 to £545,000. A couple of years ago there would have been a queue around the block filled with potential buyers, armed with mortgage offers and desperation to pay ‘whatever it takes’.

My friend’s experience is worse than the data suggests. Research from Rightmove finds that sellers are achieving 95.6% of the asking price, with an average loss of £27,442 based on the average London asking price of £628,039. The difference reflects the ‘cloud 9’ approach of sellers who are yet to come to terms with the fact that buyers can no longer afford to pay any asking price.

By way of comparison the national average loss is £10,000, or 96.7 per cent of the final asking price. A difference of 1.1% between the two groups (London versus national) is not that dramatic and perhaps suggests than London is the siren call for the rest of the UK.

The fall in the London boroughs appears to be concentrated in the central areas of the city and outer boroughs are yet to feel the tightening. This is most likely due to the ripple effect.

The worries surrounding Brexit, stamp duty and interest rates will eventually be felt everywhere. This is regardless of how and when inflation really begins to bite.

Ongoing house price climbs are unsustainable

The strong performance by the rest of the UK may be seen as something to celebrate by those angry about the north-south divide. In reality history and data suggests this is not a sustainable situation for the long-term.

As we have already seen in London, home buyers will becoming increasingly stretched as prices climb. Wages are certainly not increasing but interest rates are.

The 0.4% increase in house prices was down significantly from the 1.5% climb seen in the previous period, perhaps a reflection of a changing and pushed market.

The property correction, and potentially crash, has started closest to the centre of the capital first. Soon a ripple effect will likely play out.

Many of the factors felt by central Londoners will also be experienced by the rest of the UK. Brexit, interest rate climbs or stamp duty rises make this likely. Brexit may be felt more keenly in the capital but this will set the tone for the rest of the country.

Banks are feeling financial pressures and the jobs market is certainly not suggesting to anyone that wages are on their way up. None of these are London-exclusive problems.

Throw in Brexit and you’ve just served up uncertainty on a platter for the entire UK.

Listen on SoundCloud , Blubrry & iTunes. Watch on YouTube below

Pressured first-time buyers support the market

In the short-term it may well remain a sellers’ market. There are still some property shortages across the country. Brits remain instilled with the psyche that it is better to own a home than to rent one. Earlier this year first-time buyers reached 10-year highs, ‘thanks’ to help-to-buy and shared ownership schemes. With interest rates set to climb further and stamp duty here to stay we may see a surge from first time buyers keen to jump on the housing ladder before it becomes even more unaffordable.

Rightmove and propertywire, explain the key differences between the property prices, lead by first-tme buyers:

The index also shows that typical first time buyer properties with two bedrooms or fewer are up by 2.2% average year on year, while the sector favoured by second steppers, mainly comprising three bedroom properties, rose by 2.7% rise.

In contrast, the more expensive top of the ladder category, typically detached with four bedrooms or more, has a more muted annual rate of increase of 0.9% and is still behind its peak set in October 2017 of £542,347.

‘In the more popular locations and for the property with the right specifications, buyer demand is helping to push prices higher. A lack of choice is nudging prices up to test the ceiling of what the market will pay,’ Shipside pointed out.

An abundance of houses or not, if they are unaffordable then there won’t be much demand for them.

Whilst the government is apparently working to increase the number of new homes, it may be too little too late. A housing shortage was not the driver of the housing boom. It was easy money and easy lending and those days are rapidly coming to an end and there are consequences to the age of frivolity by mortgage lenders and over-stretched buyers.

No property? You’re still vulnerable

London should not be seen as the outlier when it comes to property prices. It just feels change more acutely than the rest of the UK. Investors and analysts should see it as an only partially effective shock-absorber or airbag.

A crash appears likely. As ever, those who are diversified and own gold will weather the storm better than those who do not.

It’s easy to think that you are immune from a housing market crash if you are not a property owner. Sadly there are few who will be unaffected by a fall in property prices. So ingrained is the debt-fuelled housing market in our economy that all investors, savers and consumers are exposed.

Whilst the crash in house prices looks inevitable, it may not be imminent. The slow collapse in the London housing market has been ongoing since before the Brexit referendum, as buyers face the reality of reduced real wages and increased interest rates.

Investors and savers should hedge themselves by allocating a sensible proportion of their portfolio to the only real counter-party free asset – gold and silver bullion coins and bars.

Listen on SoundCloud , Blubrry & iTunes. Watch on YouTube below

Recommended reading

London Property Sees Brave Bet By Norway As Foxtons Profits Plunge

Brexit Risks Increase – London Property Market and Pound Vulnerable

London Property Market Tumbles As Glut of Luxury Apartments Grows To 3,000

News and Commentary

Gold ends higher as Trump comments put pressure on the dollar (MarketWatch.com)

Gold inches up as dollar slides, but risk premium fades (Reuters.com)

U.S. Homebuilder Sentiment Declined in April for a Fourth Month (Bloomberg.com)

US retail sales beat expectaiton, but Empire State survey showed outlook waned sharply (ActionForex.com)

U.S. retail sales spring back 0.6% in March after three straight declines (MarketWatch.com)

Source: Bloomberg

Barclays: Geopolitical Risk Is Back To Cold War Highs (ZeroHedge.com)

Does The “Normalization” of the Fed’s Balance Sheet Signal the Next Asset Collapse Has Begun? (Econimica)

Greece Back in the Spotlight (Bloomberg.com)

U.S. Libor Replacement, Two Weeks After Debut, Has Some Issues (Bloomberg.com)

Silver’s Bullet (Bloomberg.com)

Listen on SoundCloud , Blubrry & iTunes. Watch on YouTube below

Gold Prices (LBMA AM)

16 Apr: USD 1,344.40, GBP 941.21 & EUR 1,087.62 per ounce
13 Apr: USD 1,340.75, GBP 938.93 & EUR 1,087.35 per ounce
12 Apr: USD 1,345.90, GBP 951.01 & EUR 1,090.99 per ounce
11 Apr: USD 1,345.20, GBP 947.96 & EUR 1,087.86 per ounce
10 Apr: USD 1,335.95, GBP 942.25 & EUR 1,083.46 per ounce
09 Apr: USD 1,328.50, GBP 941.91 & EUR 1,082.33 per ounce

Silver Prices (LBMA)

16 Apr: USD 16.60, GBP 11.61 & EUR 13.42 per ounce
13 Apr: USD 16.51, GBP 11.57 & EUR 13.40 per ounce
12 Apr: USD 16.66, GBP 11.74 & EUR 13.50 per ounce
11 Apr: USD 16.57, GBP 11.67 & EUR 13.39 per ounce
10 Apr: USD 16.49, GBP 11.65 & EUR 13.38 per ounce
09 Apr: USD 16.34, GBP 11.59 & EUR 13.32 per ounce

Recent Market Updates

– Global Debt Bubble Hits New All Time High – One Quadrillion Reasons To Buy Gold
– Oil Surges Over 8%, Gold and Silver Marginally Higher, Stocks Gain In Volatile Week
– EU and Euro Exposed To Risks Including Trade Wars and War With Russia In Middle East
– Trump Tweets Russia “Get Ready” For Missiles In Syria – Gold, Oil Rise and Stocks Fall
– Private: EU and Euro Exposed To Trade Wars, Energy Dependence, Anti-EU and Anti-Euro Movements
– Trump Making ‘Major Decisions’ on Syria, Iran and Russia Response ‘Very Quickly’
– Gold Out Performs Stocks In 2018 and This Century By Ratio Of Two To One
– Jamie Dimon Warns Of Potential ‘Market Panic’
– Silver Bullion: Should We Be Worried About Silver?
– Martin Luther King Jr. Anniversary: Reminds Us Of Costs Of War To Society and Financial System
– Gold Outperforms Stocks In Q1, 2018
– Brexit, Stagflation Pressures UK High Street
– Gold Is Money While Currencies Today Are “IOU Nothings”

janskoyles

Andrew Maguire’s Kinesis money which is a “bitcoin” but backed 100% by allocated gold and silver is set to go.

it think it would be a great idea to look at this!

please read at:  https://kinesis.money/#/

(Andrew Maguire)

3. ASIAN AFFAIRS

i)TUESDAY MORNING/MONDAY NIGHT: Shanghai closed DOWN 43.85 POINTS OR 1.41%  /Hang Sang CLOSED DOWN 252.84 POINTS OR 0.83%   / The Nikkei closed UP 12.06 POINTS OR 0.06%/Australia’s all ordinaires CLOSED UP .02% /Chinese yuan (ONSHORE) closed UP at 6.2834/Oil DOWN to 66.69 dollars per barrel for WTI and 71.81 for Brent. Stocks in Europe OPENED IN THE RED    .   ONSHORE YUAN CLOSED UP AT 6.2834 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2773 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING  A LITTLE STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

3 a NORTH KOREA/USA

North Korea/South Korea

 

3 b JAPAN AFFAIRS

c) REPORT ON CHINA/HONG KONG

USA is now planning a 3rd front into its attack on China.  China does not allow USA firms to compete in China unless they find a joint venture partner of Chinese origin. Basically Chinese high technology is off limits to the USA and Trump is planning to remedy this:

(courtesy zerohedge)

4. EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/IRAN/SYRIA

Now we know what happened last week when we were informed of a massive explosion last Monday inside the T4 air base.  At the time nobody claimed responsibility.  Once the Americans categorically stated that they had nothing to do with the hit, all eyes turned on Israel..and sure enough they admitted the attack today.

The question was why they targeted an Iranian drone base.   Israel now state that Iran sent over a drone into Israeli soil carrying explosives and this drone was shot down. This is the very first confrontation between Iran and Israel directly and no through proxies.

thus the reason for the attack on live Iranian targets inside Syria..this will escalate!

(courtesy zerohedge)

“It Was The First Time We Attacked Live Iranian Targets”: Israel Admits Striking Iran Base In Syria

A senior Israeli military official admitted to NYT columnist Thomas Friedman that Israel targeted the Iranian drone command center at the T4 air base in Syria last week, an airstrike which killed 14 people, half of whom were Iranians active in Syria.

“It was the first time we attacked live Iranian targets — both facilities and people,” said the Israeli military official quoted by Haaretz.

The admission validates accusations by Russia and the Syrian command – until now unconfirmed – which blamed Israel for the pre-dawn raid last Monday on the major air base in central Syria, saying Israeli fighter jets launched the missiles from Lebanon’s air space, and which a war-monitoring group said killed 14 people. Last week, Russia’s Defense Ministry said two Israeli aircraft targeted the T4 air base in Homs province, firing eight missiles. It said Syria shot down five of them while the other three landed in the western part of the base. Syrian state TV quoted an unnamed military official as saying that Israeli F-15 warplanes fired several missiles at T4.

Photos of the T4 base showed the aftermath of the airstrike.

Fast forward to today when the Israeli official said that last Monday’s attack was in retaliation for an armed Iranian drone that entered Israeli airspace in February, and “opened a new period,” saying that “this is the first time we saw Iran do something against Israel — not by proxy.”

During the attack, Israel killed seven Iranian Revolutionary Guards’ Quds force members, including Colonel Mehdi Dehghan, who led the drone unit operating out of T4, east of Homs.

FDD’s Iran Project@FDD_Iran

IRGC-affiliated media have thus far confirmed that 4 Iranians were killed in Israeli strikes on T-4 airbase in Syria’s Homs: Col. Mehdi Dehghan, Seyyed Ammar Mousavi, Akbar Javar-Jannati and Mehdi Lotfi-Niasar.

Israel has been furious at Iranian forces operating out of Syria ever since February, when an Israeli F-16 fighter jet that carried out airstrikes on a Syrian air base was shot down after it struck targets in Syria in response to an Iranian drone that allegedly first infiltrated Israeli airforce.

Babak Taghvaee@BabakTaghvaee

#Syria Air Defense Force used S-200V Surface to Air missile to shoot-down an #Israel Air Force F-16I while was bombing an #IRGC base in Syria. The F-16 is crashed in Israel territory & its pilots ejected safely & were evacuated by S-70A. #IRGC has used UAV to check F-16 wreckage.

The downed Iranian drone was armed with explosives and the Israeli military claimed that it was on its way to carry out an attack.

According to IDF spokesman, Brig. Gen. Ronen Manelis, the drone’s flight path and Israel’s “intelligence and operational analysis of the parts of the Iranian unmanned vehicle” indicated that “the aircraft was carrying explosives” and that its mission was “an act of sabotage in Israeli territory.”

Needless to say, Iran was not happy with Israel’s admission, which prompted Tehran to vow retaliation against Israel for the attack, while the commander of Iran’s army ground forces, commander Heidari, said a date has been set for Israel’s destruction:

• IRAN SAYS TO RETALIATE AGAINST ISRAEL FOR AIRBASE ATTACK IN SYRIA: AL-KHABBAR
• IRAN ARMY GROUND FORCES COMMANDER HEIDARI SAYS DATE HAS BEEN SET FOR ISRAEL’S DESTRUCTION: MEHR

Meanwhile, however, it appears that Israel is continuing its now daily attacks on Syria:

• UNIDENTIFIED MISSILES ENTERED SYRIAN SKIES, SANA REPORTS
• UNIDENTIFIED AIRCRAFT OVER DAMASCUS SYRIA: LOCAL REPORTS
• HOMS SYRIA MISSILE STRIKES BEING CARRIED OUT BY ISRAEL: LOCAL REPORTS
• AIR DEFENSES RESPOND TO MISSILE ATTACK ON SHAYRAT AIRBASE IN HOMS AND SHOOT THEM DOWN -SYRIAN TV

And now we await what, if any, response Iran may have to this latest Israeli attack.

end

This is big:  Robert Fisk, famed war reporter for the UK Independent now reached his conclusion after visiting the Syrian chemical gas attack that  the Syrians inside East Ghouta were not gassed.

(courtesy zerohedge)

Famed War Reporter Robert Fisk Reaches Syrian ‘Chemical Attack’ Site, Concludes “They Were Not Gassed”

Robert Fisk’s bombshell first-hand account for the UK Independent runs contrary to nearly every claim circulating in major international press concerning what happened just over week ago on April 7th in an embattled suburb outside Damascus: not only has the veteran British journalist foundno evidence of a mass chemical attack, but he’s encountered multiple local eyewitnesses who experienced the chaos of that night, but who say the gas attack never happened.

Fisk is the first Western journalist to reach and report from the site of the alleged chemical weapons attack widely blamed on Assad’s forces. Writing from Douma in eastern Ghouta, Fisk has interviewed a Syrian doctor who works at the hospital shown in one of the well-known videos which purports to depict victims of a chemical attack.

Importantly, the report, published late in the day Monday, is causing a stir among mainstream journalists who–minutes after the Saudi-sponsored jihadist group Jaish al-Islam (Army of Islam) accused the Syrian Army of gassing civilians–began uncritically promoting the “Assad gassed his own people” narrative as an already cemented and “proven” fact based on the mere word a notoriously brutal armed group who itself has admitted to using chemical weapons on the Syrian battlefield in prior years. Also notable is that no journalist or international observer was anywhere near Douma when the purported chemical attack took place. 

Controversy ensued immediately after Fisk’s report, especially as he is among the most recognizable names in the past four decades of Middle East war reporting, having twice won the British Press Awards’ Journalist of the Year prize and as seven time winner of the British Press Awards’ Foreign Correspondent of the Year (the NY Times has referred to him as“probably the most famous foreign correspondent in Britain” while The Guardian has called him “one of the most famous journalists in the world”). An Arabic speaker, Fisk became famous for being among the few reporters in history to conduct face-to-face interviews with Osama bin Laden, which he did on three occasions between 1993 and 1997.

Fisk says he was able to walk around and investigate newly liberated Douma without Syrian government or Russian minders (in part this is likely because he has reported from inside Syria going back decades, in war-torn 1982 Hama, for example), and he begins his account as follows:

This is the story of a town called Douma, a ravaged, stinking place of smashed apartment blocks–and of an underground clinic whose images of suffering allowed three of the Western world’s most powerful nations to bomb Syria last week. There’s even a friendly doctor in a green coat who, when I track him down in the very same clinic, cheerfully tells me that the “gas” videotape which horrified the world– despite all the doubters–is perfectly genuine.

War stories, however, have a habit of growing darker. For the same 58-year old senior Syrian doctor then adds something profoundly uncomfortable: the patients, he says, were overcome not by gas but by oxygen starvation in the rubbish-filled tunnels and basements in which they lived, on a night of wind and heavy shelling that stirred up a dust storm.

Fisk goes on to identify the doctor by name – Dr. Assim Rahaibani – which is notable given the fact that all early reporting from Douma typically relied on “unnamed doctors” and anonymous opposition sources for early claims of a chlorine gas attack (lately morphed into an unverified “mixed” chlorine-and-sarin attack).

The doctor’s testimony is consistent with that of the well-known Syrian opposition group Syrian Observatory for Human Rights (SOHR), which initially reported based on its own pro-rebel sourcing that heavy government bombardment of Douma city resulted in the collapse of homes and underground shelters, causing civilians in hiding to suffocate.

According to SOHR, which has long been a key go-to source for mainstream media over the course of the war, “70 of them [women and children] have suffered suffocation as a result of the demolition of home basements over them due to the heavy and intense shelling.”

Though outlets from The Guardian to The Washington Post to The New York Times have quoted SOHR on a near daily basis throughout the past six years of war, the anti-Assad opposition outlet’s reporting of mass asphyxiation due to collapse of shelters has been notably absent from the same publications.

Fisk to Spirit Radio: “The video is real, but they are not suffering from gas poisoning…”

Fisk details the Syrian doctor’s testimony, who is adamant in his emphasis that civilians were suffocating en masse, and were not gassed:

It was a short walk to Dr Rahaibani. From the door of his subterranean clinic–“Point 200”, it is called, in the weird geology of this partly-underground city–is a corridor leading downhill where he showed me his lowly hospital and the few beds where a small girl was crying as nurses treated a cut above her eye.

“I was with my family in the basement of my home three hundred metres from here on the night but all the doctors know what happened. There was a lot of shelling [by government forces] and aircraft were always over Douma at night–but on this night, there was wind and huge dust clouds began to come into the basements and cellars where people lived. People began to arrive here suffering from hypoxia, oxygen loss. Then someone at the door, a “White Helmet”, shouted “Gas!”, and a panic began. People started throwing water over each other. Yes, the video was filmed here, it is genuine, but what you see are people suffering from hypoxia–not gas poisoning.”

In addition to interviewing a doctor while standing in the very hospital featured in White Helmets footage of the events, Fisk cites the testimonies of multiple locals in the following:

Before we go any further, readers should be aware that this is not the only story in Douma. There are the many people I talked to amid the ruins of the town who said they had “never believed in” gas stories–which were usually put about, they claimed, by the armed Islamist groups. 

These particular jihadis survived under a blizzard of shellfire by living in other’s people’s homes and in vast, wide tunnels with underground roads carved through the living rock by prisoners with pick-axes on three levels beneath the town. I walked through three of them yesterday, vast corridors of living rock which still contained Russian–yes, Russian–rockets and burned-out cars.

And further fascinating is that the veteran British war correspondent comes upon local Douma residents who have so long been trapped in an isolated ‘fog of war’ battlefield environment, that they are not even aware of the international importance that the town has played in the US coalition decision to bomb Syria:

So the story of Douma is thus not just a story of gas–or no gas, as the case may be. It’s about thousands of people who did not opt for evacuation from Douma on buses that left last week, alongside the gunmen with whom they had to live like troglodytes for months in order to survive.

I walked across this town quite freely yesterday without soldier, policeman or minder to haunt my footsteps, just two Syrian friends, a camera and a notebook. I sometimes had to clamber across 20-foot-high ramparts, up and down almost sheer walls of earth. Happy to see foreigners among them, happier still that the siege is finally over, they are mostly smiling; those whose faces you can see, of course, because a surprising number of Douma’s women wear full-length black hijab.

…Oddly, after chatting to more than 20 people, I couldn’t find one who showed the slightest interest in Douma’s role in bringing about the Western air attacks. Two actually told me they didn’t know about the connection.

But it was a strange world I walked into. Two men, Hussam and Nazir Abu Aishe, said they were unaware how many people had been killed in Douma, although the latter admitted he had a cousin “executed by Jaish el-Islam [the Army of Islam] for allegedly being “close to the regime”. They shrugged when I asked about the 43 people said to have died in the infamous Douma attack.

Bassem@BBassem7

The Evidence thriller

Evidence? …A video montage of the Pentagon and State Department’s awkward attempts to dodge the question of evidence. 

Concerning the White Helmets, who have played a dubious role throughout the war while presenting themselves as “impartial” and “neutral” rescue workers and film-makers, though known to operate exclusively in al-Qaeda and other jihadist-controlled areas of Syria, Fisk reports the following:

The White Helmets–the medical first responders already legendary in the West but with some interesting corners to their own story–played a familiar role during the battles. They are partly funded by the [British] Foreign Office and most of the local offices were staffed by Douma men. 

I found their wrecked offices not far from Dr Rahaibani’s clinic. A gas mask had been left outside a food container with one eye-piece pierced and a pile of dirty military camouflage uniforms lay inside one room. Planted, I asked myself? I doubt it. The place was heaped with capsules, broken medical equipment and files, bedding and mattresses.

Of course we must hear their side of the story, but it will not happen here: a woman told us that every member of the White Helmets in Douma abandoned their main headquarters and chose to take the government-organised and Russian-protected buses to the rebel province of Idlib with the armed groups when the final truce was agreed.

And Fisk further narrates the strangeness of some of the reporting now happening far outside of Douma which flatly contradicts the testimonies of civilians still inside Douma that he encounters:

How could it be that Douma refugees who had reached camps in Turkey were already describing a gas attack which no-one in Douma today seemed to recall? It did occur to me, once I was walking for more than a mile through these wretched prisoner-groined tunnels, that the citizens of Douma lived so isolated from each other for so long that “news” in our sense of the word simply had no meaning to them. 

Syria doesn’t cut it as Jeffersonian democracy–as I cynically like to tell my Arab colleagues–and it is indeed a ruthless dictatorship, but that couldn’t cow these people, happy to see foreigners among them, from reacting with a few words of truth. So what were they telling me?

They talked about the Islamists under whom they had lived. They talked about how the armed groups had stolen civilian homes to avoid the Syrian government and Russian bombing. The Jaish el-Islam had burned their offices before they left, but the massive buildings inside the security zones they created had almost all been sandwiched to the ground by air strikes. A Syrian colonel I came across behind one of these buildings asked if I wanted to see how deep the tunnels were. I stopped after well over a mile when he cryptically observed that “this tunnel might reach as far as Britain”. Ah yes, Ms May, I remembered, whose air strikes had been so intimately connected to this place of tunnels and dust. And gas?

For a prime example of what Fisk references as refugees in Turkey “already describing a gas attack which no-one in Douma seemed to recall…” CNN aired a segment from one such refugee camp which is absolutely bizarre and stunning in its claims. 

During the segment which aired “hours after” the US-led airstrikes on Damascus, CNN’s Arwa Damon began sniffing a 7-year-old Syrian girl’s backpack while concluding, “I mean there’s definitely something that stings…” – with the implication that empirical proof had been found of government chemical weapons use against the little girl and her family.

Walid@walid970721

This CNN report by Arwa Damon is an example of what Western governments and media consider evidence that the Syrian govt used chemical weapons in #Douma. In fact it proves nothing. CNN continues to shamelessly promote Jihadist propaganda & western military intervention #Syria

And in the full segment, Damon attempts to subtly introduce the idea of a nerve agent used against the family (though initial claims were widely reported to be chlorine) by awkwardly including the account of the girl’s escape from Douma: “She could barely breath…she felt as if her entire nerves basically released.” 

CNN✔@CNN

This Syrian girl hid her dolls inside a box, telling them “you’re going to suffocate in here, maybe, but at least you might be safe from the bombings.” CNN reports from inside a refugee camp in Syria hours after a coordinated US-led airstrike hit the area. https://cnn.it/2H2pCLe 

Though it’s unclear what the strange phrasing of “her entire nerves basically released” actually means, CNN’s Arwa Damon is ultimately claiming to be able to safely and comfortably handle and sniff a backpack which contains residual sarin and chlorine agents, while simultaneously presenting the backpack as “proof” of a chemical attack which happened a week prior (to say nothing the clearly unscientific and bogus nature all of the above).

Notably, in addition to Fisk’s bombshell report filed from ground zero of the claimed chemical attack in Douma, cable network One America News has also issued a report from on the ground in the newly liberated town, finding “no evidence” – in its words – that a chemical attack took place there. 

One America News✔@OANN

OAN Investigation Finds No Evidence of Chemical Weapon Attack in Syria: http://youtu.be/lSXwG-901yU?a  via @YouTube

Robert Fisk’s report for The Independent and the One America News segment constitute the first major international media reports from the location of the alleged chemical attack. But it will be interesting to see the extent to which international chemical and weapons experts either validate or refute their conclusions once the site is inspected.

Meanwhile, the Organization for the Prohibition of Chemical Weapons (OPCW) Fact-Finding Mission (FFM) team arrived in Damascus on Saturday, April 14th – after the US-led overnight strikes which primarily hit government buildings in the capital

end

This is interesting:  The Russians find a chemical weapons lab right inside the rebel held section of Douma.  The USA side states that the Russians have somehow hid this…do not make this up

(courtesy zerohedge)

US Says Russia ‘Hacked’ Syrian Attack Evidence As Russia Finds Rebel Chemical Weapon Lab

Update: Interfax reports that the Russian military has discovered a rebel-owned chemical weapons lab in Douma.

The Russian Defense Ministry says that components for Mustard Gas production were discovered along with cylinders of chlorine at a alb belonging to militants in Douma.

Additionally, Moscow has said it is stunned by a French statement that Russia is obstructing OPCW experts from entering Syria’s Douma (echoing Ambassador Ward’s). the Russian foreign  ministry confirms OPCW expoerts are already in Douma.

*  *  *

And on the game goes…

While Russia’s foreign ministry warns that Western powers are interfering with OPCW’s work in Syria (noting that the chemical weapons experts’ access to Douma is being hampered by remaining militants, supported by Washington), as Caitlin Johnstone details, we are now being told by US officials (and I assure you I am not making this up) that if the Organization for the Prohibition of Chemical Weapons doesn’t find evidence that the Syrian government conducted a chemical weapons attack in Douma last week, it’s because Russia hid the evidence.

“It is our understanding the Russians may have visited the attack site,” reports U.S. Ambassador Kenneth Ward.

“It is our concern that they may have tampered with it with the intent of thwarting the efforts of the OPCW Fact-Finding Mission to conduct an effective investigation.”

Via Caitlin Johnstone,

I guess the idea is that this international top-level investigative team on which tremendous credibility has been placed by the western world can be thwarted by Russians showing up with a Hoover and spraying some Febreze in the air like a teenage stoner when mom comes home? I’m not sure, but given the immense dearth of evidence we’ve been seeing in support of the establishment Douma narrative and the mounting pile of evidence contradicting it, it sure does sound fishy.

Now that the jihadist-occupied suburb of Douma has been retaken by the Syrian government, western journalists have been allowed in to poke around and start asking questions, and so far it isn’t looking great for the propaganda machine.

The Independent‘s Robert Fisk has published a report which affirms the storyso many westerners have been dismissing as Kremlin propaganda for days now after interviewing a doctor from the hospital of the area where the Douma attack was supposed to have occurred. Dr Assim Rahaibani told Fisk that what was in actuality an outbreak of respiratory distress among occupants of a dusty oxygen-deprived tunnel was made to look like the aftereffects of a chemical weapons attack when a member of the White Helmets started shouting about a gas attack in front of a bunch of video cameras. Everyone panicked and started hosing themselves down, but in the video, according to Rahaibani, “what you see are people suffering from hypoxia — not gas poisoning.”

This report was independently backed up by a reporter from One America News Network named Pearson Sharp, who gave a detailed account of his interviews with officials, doctors, as well as many civilians on the street Sharp says he deliberately selected at random in order to avoid accusations of bias. Many people hadn’t even heard that a chemical weapons attack had taken place, and the ones who had said it was staged by Jaysh al-Islam. The staff at the hospital, including a medic-in-training who was an eyewitness to the incident, gave the same story as the account in Fisk’s report.

The increasing confidence with which these unapproved narratives are being voiced and the increasing discomfort being exhibited by empire loyalists like Ambassador Ward indicate a weakening narrative in the greater propaganda campaign against the Assad government and its allies, but don’t hold your breath for the part where Fox News and the BBC turn around and start asking critical questions of the governments that they are meant to be holding to account.

The journalists who have been advancing the establishment narrative on Syria aren’t about to start reporting that they’ve gotten the entire Syria story assballs backward and have been promoting a version of events manufactured for the benefit of CIA-MI6-Mossad agendas. You’re not about to see CNN, who last year staged a fake scripted interview with a seven year-old Syrian girl to manufacture support for escalations against Assad, suddenly turn around and start asking if we’re being told the full story about what’s happening Syria.

Watch them closely. Watch how they steadfastly ignore the growing mountain of evidence and keep promoting the Syrian regime change agenda that the western empire has been working toward for decades. Watch them dismiss all evidence they can’t ignore as Kremlin propaganda and shift the narrative whenever things start to look bad for them. Those riding the crest of the wave of establishment media are too far gone into the blob to ever admit error and change. The least among us aren’t about to stop constructing a public reality tunnel which depicts them as heroes of truth, tear it all down, and start advancing a narrative which makes them look like fools at best and villains at worst. It will not happen.

Luckily for us, it doesn’t need to. Internet censorship is still far from closing the door on our ability to network and share information, and we’ve been very effective at sowing skepticism among the masses. The war propagandists are not nearly as good at their jobs as they want to believe, and we can beat them.

They work so hard to manufacture support for war because they require that consent. If the oligarchs try to launch a war against a disobedient nation amidst very clear opposition from the public, they will shatter the illusion of freedom and democracy that their entire empire is built upon, and then they’re exposed. Corporatist oligarchy has succeeded in weaving its web of dominance because its oppression has thus far remained hidden and its depravity disguised as humanitarianism. They cannot expose themselves by transgressing a loud NO from the public or else the masses will realize that everything they used to believe about their country, their government and their world is a lie.

They won’t risk that. We can force them into retreating from open war by circulating facts and information and keeping a healthy level of skepticism circulating among the public. Watch them squirm, move goalposts and shift narratives, and point and yell about it whenever it happens. We can win the media war against the propagandists. We have truth on our side.

*  *  *

Internet censorship is getting pretty bad, so best way to keep seeing my daily articles is to get on the mailing list for my website, so you’ll get an email notification for everything I publish. My articles and podcasts are entirely reader and listener-funded, so if you enjoyed this piece please consider sharing it around, liking me on Facebook, following my antics on Twitter, checking out my podcast, throwing some money into my hat on Patreon or Paypal, or buying my new bookWoke: A Field Guide for Utopia Preppers.

6 .GLOBAL ISSUES

The IMF warns of huge risks to the system:

(courtesy zerohedge)

The Party Is Ending: IMF Warns The Coming Risks Are “Clearly To The Downside”

Things are good… for now. They won’t last.

That’s the TL/DR summary of the latest IMF World Economic Outlook report released this morning. Like the last Financial Stability report, released in October, the sunny headline numbers – which show that global economic growth is expected to continue expanding over the next two years before the advent of the next slowdown some time after 2020 – conceal signs of growing concern buried deeper in the report.

Widening income inequality, a phenomenon the IMF says has been exacerbated by technological advancements, could lead to myriad problems down the road, from political unrest to worsening trade wars, that governments will need to grapple with.

Instead of slashing taxes, governments need to focus on raising workers sense of security in the face of radical technological changes, while more evenly distributing the benefits of strong economic growth and asset appreciation.

But first, some good news: Economic activity in 2017 ended on a high note, with second-half growth surpassing 4%, the strongest since the second half of 2010, bolstered by a recovery in investment.

In Japan, the US and China, growth exceeded the October 2017 World Economic Outlook forecasts while it also continued to improve gradually in commodity exporters. Despite the recent volatility in equity markets, financial conditions remain supportive even as bond yields have risen slightly following signs of firming inflation in the developed world. With broad-based momentum and expectations of a sizable fiscal expansion in the United States over this year and the next, global growth is now projected at 3.9% for 2018–19, a 0.2 percentage point upgrade for both years compared with the October 2017 forecast.

But while the IMF modestly raised its growth forecasts for developed economies over the next two years, US fiscal policy is expected to soon turn contractionary in advanced economies for 2020–22 and more clearly contractionary in 2023, “when the investment-expensing  provisions of US tax reform begin to expire.”

Worse, the momentum will eventually slow – and then reverse- leaving countries with a challenging outlook over the medium term. Financial conditions are expected to tighten naturally as output gaps close and monetary policy normalizes. But crucially for the US, “tax reform will subtract momentum starting in 2020, and then more strongly as full investment expensing is phased out starting in 2023; and China’s transition to lower growth is expected to resume as credit growth and fiscal stimulus diminish.”

And while the expected recovery in investment will help raise potential output, weak productivity trends and reduced labor force growth due to population aging constrain medium-term prospects in advanced economies.

“Global growth is on an upswing,” the IMF says in its executive summary. “But favorable conditions will not last forever, and now is the moment to get ready for leaner times.”

As for the short-term, here the IMF is growing increasingly concerned as well:

Risks around the short-term outlook are broadly balanced, but risks beyond the next several quarters are clearly to the downside.

Here’s a summary of the major growth forecasts, courtesy of Bloomberg:

• The U.S. economy will grow 2.9 percent this year, up 0.2 percentage point from the fund’s forecast in January. The U.S. will expand at a 2.7 percent pace next year, also up 0.2 point from three months ago
• The IMF also raised its forecast for the euro area, predicting the currency zone will grow 2.4 percent in 2018, up 0.2 point from January. The fund left its forecast for euro-zone growth next unchanged, at 2 percent
• China will grow 6.6 percent this year and 6.4 percent in 2019, the fund said. Both forecasts were unchanged from three months ago
• The IMF also left its outlook for Japan flat, predicting the nation will expand at a 1.2 percent pace this year and 0.9 percent in 2019
• India will grow 7.4 percent this year and 7.8 percent in 2019, both unchanged from January
• The fund cut its forecast for Canada to 2.1 percent this year, down 0.2 point from three months ago

Here’s a summary of the IMF’s projections:

Read the report’s executive summary below (pdf link):

7. OIL ISSUES

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

HARVEY