OCT 9a/comex data for today plus early morning data/ plus GLD and SLV inventory movements.

GOLD: $1187.60 UP  $2.00 (COMEX TO COMEX CLOSINGS)

Silver:   $14.39  UP 9 CENTS (COMEX TO COMEX CLOSING)

Closing access prices:

Gold :  1187.80

 

silver: $14.37

 

at least I am able to provide for you the comex data which is essential to understanding the fraud

i provided early morning data  (7 am) but not closing data as I was under a considerable ordeal but I am almost OK now.

 

here is your data…plus some stories

 

 

 

 

 

For comex gold and silver:

OCT

 

 

 

 

 

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

Total number of notices filed so far for OCT:  850 for 100 OZ  (2.6438 TONNES)

 

 

 

 

 

FOR OCTOBER

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

0 NOTICE(S) FILED TODAY FOR

NIL OZ/

Total number of notices filed so far this month: 295 for 1,475,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: OPENING MORNING TRADE  $6697: UP  $87

 

Bitcoin: FINAL EVENING TRADE: $6657  DOWN 69 

 

end

 

XXXX

 

China is controlling the gold market

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total OPEN INTEREST FELL BY A TINY SIZED 275 CONTRACTS FROM 200,923 DOWN TO  200,648 DESPITE YESTERDAY’S HUGE  33 CENT FALL IN SILVER PRICING AT THE COMEXTODAY WE  MOVED A FURTHER FROM AUGUST’S RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY , 6 MILLION OZ FOR AUGUST AND NOW JUST LESS THAN 31 MILLION OZ STANDING IN SEPTEMBER. AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S.  WE WERE  NOTIFIED  THAT WE HAD A HUMONGOUS SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:

EFP’S FOR OCT.  4802 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 4802 CONTRACTS. WITH THE TRANSFER OF 4802 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 4802 EFP CONTRACTS TRANSLATES INTO 27.71 MILLION OZ  ACCOMPANYING:

1.THE 33 CENT FALL IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE/2018 COMEX DELIVERY MONTH. (5.420 MILLION OZ);  30.370 MILLION OZ  STANDING FOR DELIVERY IN JULY, FOR AUGUST: 6.065 MILLION OZ AND  39.505 MILLION  OZ STANDING  IN SEPT. AND 1,590,000 OZ STANDING IN OCTOBER.

 

 

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

16919 CONTRACTS (FOR 7 TRADING DAYS TOTAL 16,919 CONTRACTS) OR 84.59 MILLION OZ: (AVERAGE PER DAY: 2301 CONTRACTS OR 11.507 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF SEPT:  84.59 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 12.08% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*  JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:           2,304.11    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

ACCUMULATION FOR APRIL 2018:                                           385.75        MILLION OZ

ACCUMULATION FOR MAY 2018:                                             210.05        MILLION OZ

ACCUMULATION FOR JUNE 2018:                                           345.43         MILLION OZ

ACCUMULATION FOR JULY 2018:                                            172.84          MILLION OZ

ACCUMULATION FOR AUGUST 2018:                                      205.23          MILLION OZ.

ACCUMULATION FOR SEPTEMBER 2018:                                 167,05          MILLION OZ

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 275 DESPITE THE HUGE 33 CENT FALL IN SILVER PRICING AT THE COMEX //YESTERDAY. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 2166 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) .

TODAY WE GAINED A GIGANTIC SIZED:4527 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 4802 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH DECREASE OF 275  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 33 CENT FALL IN PRICE OF SILVER  AND A CLOSING PRICE OF $14.30 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THE BIG JULY DELIVERY MONTH OF SLIGHTLY OVER 30 MILLION OZ, IN AUGUST ANOTHER BIG 6.065 MILLION OZ IN A NON ACTIVE MONTH AND IN SEPTEMBER AN FINAL MONSTROUS 39.505 MILLION OZ OF SILVER STANDING FOR DELIVERY… NOBODY IS PAYING ATTENTION TO THE HUGE NUMBER OF PHYSICAL OUNCES STANDING FOR SILVER THESE PAST SEVERAL MONTHS.

 

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.007 MILLION OZ TO BE EXACT or 144% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT AUGUST MONTH/ THEY FILED AT THE COMEX: NOTICE(S) FOR NIL OZ OF SILVER

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

AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

  1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ  MAY: 36.285 MILLION OZ ; JUNE/2018  (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ   )  FOR AUGUST 6.065 MILLION OZ. , SEPT:  AN INITIAL HUGE 39.505 MILLION OZ./AND NOW OCTOBER:1,590,000 oz
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018:  244,196 CONTRACTS,  WITH A SILVER PRICE OF $14.78.
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
  4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, 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).

IN GOLD, THE OPEN INTEREST ROSE BY A CONSIDERABLE SIZED 3037 CONTRACTS UP TO 470.534 DESPITE THE FALL IN THE COMEX GOLD PRICE/YESTERDAY’S TRADING (A LOSS IN PRICE OF $18.60.THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A VERY STRONG SIZED 12092 CONTRACTS: ALWAYS, ON THE WEEK PRIOR TO FIRST DAY NOTICE IN ANY ACTIVE MONTH WHETHER GOLD OR SILVER THE OI COLLAPSES.  IT IS HERE THAT THE MIGRANTS RECEIVE THEIR FIAT BONUS FOR ENGAGING IN THIS EXERCISE. WE HAD THE FOLLOWING EFP ISSUANCE FOR TODAY:

 

OCTOBER HAD EFP’S ISSUED AND, DECEMBER HAD AN ISSUANCE OF 12092 CONTACTS  AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 470,534. 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. . 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 VERY STRONG SIZED OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 15,129 CONTRACTS:  3037 OI CONTRACTS INCREASED AT THE COMEX AND 12,092 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 15,129 CONTRACTS OR  1,512,900 OZ = 47.05 TONNES. AND ALL OF THIS STRONG DEMAND  OCCURRED WITH A FALL IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $18.6??? GO FIGURE!!

 

 

 

YESTERDAY, WE HAD 9706 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF SEPT : 57,900CONTRACTS OR 5,790,000 OZ OR 180.09 TONNES (7 TRADING DAYS AND THUS AVERAGING: 8271 EFP CONTRACTS PER TRADING DAY OR 827,100 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 6 TRADING DAYS IN  TONNES: 180.09 TONNES

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

THUS EFP TRANSFERS REPRESENTS 180.09/2550 x 100% TONNES =  7.05% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:     5,847.66*  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES  (20 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018:             741.89 TONNES  (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018:                 713.84 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MAY 2018:                   693.80 TONNES ( 22 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JUNE 2018                      650.71 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JULY 2018                       605.5 TONNES     (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR AUG. 2018                      488.54  TONNES  (23 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR SEPT 2018                       470.64 TONNES   (19 TRADING DAYS)

 

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 CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 3027 WITH THE LOSS IN PRICING ($18.60 THAT GOLD UNDERTOOK YESTERDAY) //. WE ALSO HAD AN STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 12092 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 12092 EFP CONTRACTS ISSUED, WE HAD A STRONG  GAIN OF 15,129 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

12092 CONTRACTS MOVE TO LONDON AND 3037 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 47.05 TONNES). ..AND ALL OF HUGE DEMAND OCCURRED WITH A LOSS OF $18.60 IN YESTERDAY’S TRADING AT THE COMEX.???

 

 

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD...

 

WITH GOLD UP $2.00 TODAY: / 

 

NO CHANGE IN INVENTORY

 

 

 

 

 

 

 

 

 

/GLD INVENTORY   730.17 TONNES

Inventory rests tonight: 730.17 tonnes.

TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD.  IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY

SLV/

WITH SILVER UP 9 CENTS TODAY

NO CHANGES IN SILVER INVENTORY AT THE SLV

 

 

 

 

 

 

 

 

 

 

 

 

/INVENTORY RESTS AT 332.912 MILLION OZ.

 

NOTE THE DIFFERENCE BETWEEN THE GLD AND SLV: THE CROOKS CAN RAID GOLD BECAUSE THEY DO HAVE SOME PHYSICAL.  THEY DO NOT RAID SILVER PROBABLY BECAUSE THERE IS NO REAL SILVER INVENTORIES BEHIND THEM

 

end

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

1. Today, we had the open interest in SILVER FELL BY A TINY SIZED 275 CONTRACTS from 200,923 DOWN TO  200,648  AND MOVING A LITTLE FURTHER FROM THE NEW COMEX RECORD SET LAST IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  1 1/3 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.  AS YOU CAN SEE, WE HAVE RECORD HIGH OPEN INTERESTS IN SILVER  ACCOMPANIED BY A CONTINUAL LOWER PRICE WHEN THAT RECORD WAS SET…..

 

.

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 

 

4802 CONTRACTS FOR DECEMBER AND  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 4802 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 275 CONTRACTS TO THE 4802 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A STRONG NET GAIN OF 4527 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 22.63MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESSED A FINAL STANDING OF GREATER THAN 30 MILLION OZ FOR JULY, A STRONG 6.065 MILLION OZ FOR AUGUST..  A HUGE 39.505  MILLION OZ  STANDING FOR SILVER IN SEPTEMBER…AND NOW 1.590 million  OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER.

 

 

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE 33 CENT PRICING LOSS THAT SILVER UNDERTOOK IN PRICING YESTERDAY.BUT WE ALSO HAD A STRONG SIZED 4802 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR SEPTEMBER, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY 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

) TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 4.50 POINTS OR 0.17% //Hang Sang CLOSED DOWN 29.66 POINTS OR 0.11% //The Nikkei closed for 314.33 POINTS OR 1.32%/ Australia’s all ordinaires CLOSED DOWN 1.02%  /Chinese yuan (ONSHORE) closed WELL DOWN  at 6.9248 AS POBC RESUMES  ITS HUGE DEVALUATION  /DELEGATION COMING TO THE USA TO SEE TRUMP IN NOVEMBER CANCELLED/Oil UP to 74.70 dollars per barrel for WTI and 84.44 for Brent. Stocks in Europe OPENED RED//.  ONSHORE YUAN CLOSED SLIGHTLY UP AT 6.9248 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED SLIGHTLY UP ON THE DOLLAR AT 6.9310: HUGE DEVALUATION/PAST SEVERAL DAYS RESUMES// TRADE TALKS STOPPED   : /ONSHORE YUAN TRADING STRONGER  AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR COMMENCED

 

 

 

 

 

 

 

 

 

 

 

3A/NORTH KOREA/SOUTH KOREA

i)North Korea/South Korea/USA/

 

 

 

b) REPORT ON JAPAN

3 C/  CHINA

 

4/EUROPEAN AFFAIRS

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

 

 

 

6. GLOBAL ISSUES

 

 

 

 

 

 

7. OIL ISSUES

 

 

8 EMERGING MARKET ISSUES

 

i)ARGENTINA

 

 

9. PHYSICAL MARKETS

 

 

 

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

 

 

MARKET TRADING

 
ii)Market data

 

iii)USA ECONOMIC/GENERAL STORIES

.

 

 

iv)SWAMP STORIES

 

 

Let us head over to the comex:

 

The total gold comex open interest ROSE BY A CONSIDERABLE SIZED 3037 CONTRACTS UP to an OI level 470,534 DESPITE THE HEAVY LOSS IN THE PRICE OF GOLD ($18.60 FALL YESTERDAY’S COMEX TRADING). FOR TWO YEARS STRAIGHT WE HAVE NOTICED THAT ONE WEEK PRIOR TO FIRST DAY NOTICE OF AN ACTIVE DELIVERY MONTH THE COMEX OPEN INTEREST CONTRACTS AND EFP’S NOTICES EXPONENTIALLY INCREASE AS WELL AS WE WITNESS THE COMEX OPEN INTEREST COLLAPSE. ONCE WE GET TO FIRST DAY NOTICE, THEN THE OPEN INTEREST RISES AND AGAIN THEY DID NOT DISAPPOINT US.

 

 

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF OCT..  THE CME REPORTS THAT THE BANKERS ISSUED AN STRONG SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 12092 EFP CONTRACTS WERE ISSUED:

OCTOBER: 0 EFP’S AND DECEMBER:  12092 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  12092 CONTRACTS.

THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST  48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON BASED FORWARD.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A 15,129 TOTAL CONTRACTS IN THAT 12,092 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 3037 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES:  15,129 contracts OR 1,512,900 OZ OR 47.05TONNES.

Result: A CONSIDERABLE SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE LOSS IN PRICE/ YESTERDAY (ENDING UP WITH THE DROP IN PRICE OF $18.60). THE  TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES:  15,129 OI CONTRACTS..

We are now in the active contract month of OCTOBER. For the October contract month, we lost 26 contracts to fall to 2122 contracts.  We had 0 notices yesterday, so we lost 26 contracts or 2600 oz will not stand for delivery at the comex and these guys marched over to London as they received London based forwards on top of a fiat bonus for their hard work.

The next delivery month is the non active NOVEMBER contract month and here the OI FELL by 54 contracts up to 550.  The next delivery month after November is the very big December contract month and here the OI ROSE by 349 contracts up to 376,326 contracts.

 

 

 

 

WE HAD 0 NOTICE FILED AT THE COMEX FOR NIL OZ.

 

FOR COMPARISON BETWEEN LAST YR AND TODAY:

 

FOR THE OCTOBER CONTRACT MONTH: OCTOBER IS THE WEAKEST OF ALL DELIVERY MONTHS IN GOLD.

FOR THE COMEX OCT 2017 GOLD CONTRACT MONTH: WE INITIALLY HAD 300,600 OZ STAND FOR DELIVERY OR 9.349 TONNES. (VS 13.695 TONNES OCT 2018)

AT THE CONCLUSION OF THE OCTOBER/2017 TRADING MONTH: 333,300 OZ OR 10.367 TONNES FINALLY STOOD FOR DELIVERY

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now for the wild silver comex results.

Total silver OI FELL BY A TINY SIZED 275 CONTRACTS FROM 200,923 DOWN TO 200,648 (AND FURTHER FROM  THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018.  (THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S TINY OI COMEX LOSS OCCURRED WITH A 33 CENT FALL IN PRICING.

 

WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF OCTOBER AND, WE WERE  INFORMED THAT WE HAD A STRONG SIZED 4802 EFP CONTRACTS:

 

FOR DECEMBER: 4802 CONTRACTS AND ZERO FOR ALL OTHER MONTHS.  THESE EFPS WERE ISSUED TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  THE TOTAL EFP’S ISSUED: 4802.  ON A NET BASIS WE GAINED 4527 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 275 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 4802 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES:   4527 CONTRACTS…AND BELIEVE IT OR NOT BUT  ALL OF THIS DEMAND OCCURRED WITH A 33 CENT DRUBBING IN PRICING YESTERDAY.

 

 

 

 

We are now in the non active delivery month of October and here we had a gain of 1 contracts to stand at 5 contracts.  We had 0 notices filed YESTERDAY so we gained 1 contracts or 5,000 oz will stand for delivery at the comex as these guys refused to accept a London based forward plus as well as a fiat bonus 

 

After October, is the non active delivery month of November and here we gained 39 contracts up to 475 contracts.  After November, we have a December contract and here we lost 1185 contracts down to 165,427

 

 

 

 

 

 

 

 

We had 0 notice(s) filed for NIL OZ for the SEPTEMBER 2018 COMEX contract for silver

 

Trading Volumes on the COMEX

 

PRELIMINARY COMEX VOLUME FOR TODAY: 245,585 contracts,

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  332,539  contracts

 

 

 

 

 

 

AND NOW COMPARISON FOR OCTOBER:

 

FOR THE OCTOBER 2017 CONTRACT MONTH WE HAD 4.205,000 OZ OF SILVER INITIALLY STAND FOR DELIVERY.

BY MONTH’S END WE HAD 5,475,000 OZ FINALLY STAND AS QUEUE JUMPING IN SILVER WAS ALREADY IN THE NORM.

OCTOBER IS A NON ACTIVE DELIVERY MONTH FOR SILVER BUT AS YOU CAN SEE OCT 2017 DELIVERIES WERE PRETTY

GOOD.

 

 

 

 

 

INITIAL standings for  OCT/GOLD

OCT 9-/2018.

Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 NIL oz
Deposits to the Dealer Inventory in oz NIL oz

 

Deposits to the Customer Inventory, in oz  

NIL

 

oz

 

 

 

 

 

No of oz served (contracts) today
0 notice(s)
 NIL OZ
No of oz to be served (notices)
2122 contracts
(212200 oz)
Total monthly oz gold served (contracts) so far this month
850 notices
85000 OZ
2.6438TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz

 

we had 0 dealer entry:

 

total gold entering dealer:  NIL oz

total gold withdrawing from the dealer;  NIL oz

 

we had 0 kilobar transaction/
we had NIL withdrawal out of the customer account:
total customer withdrawals:  NIL oz
we had NIL customer deposit
i
total customer deposits: NIL oz
we had NIL adjustments
i

FOR THE OCTOBER 2018 CONTRACT MONTH)

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.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
To calculate the INITIAL total number of gold ounces standing for the OCT/2018. contract month, we take the total number of notices filed so far for the month (850) x 100 oz or 100 oz, to which we add the difference between the open interest for the front month of OCT. (2122 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 297,200 OZ OR 9.2441 TONNES) the number of ounces standing in this non active month of OCT

 

Thus the INITIAL standings for gold for the OCT/2018 contract month:

No of notices served (850 x 100 oz)  + {2148)OI for the front month minus the number of notices served upon today (0x 100 oz )which equals 297,200 oz standing OR 9.2441 TONNES in this active delivery month of OCTOBER.

 

We lost 26 contracts or 2600 oz of gold will not stand as these guys morphed into London based forwards and received a fiat bonus for their effort.

 

 

 

THERE ARE ONLY 4.411 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 9.2441 TONNES STANDING FOR OCTOBER  

 

 

 

total registered or dealer gold:  141,829.805 oz or   4.441 tonnes
total registered and eligible (customer) gold;   8,160,889.574 oz 253.83 tonnes

IN THE LAST 25 MONTHS 102 NET TONNES HAS LEFT THE COMEX.

LADIES AND GENTLEMEN: THERE IS NO GOLD AT THE COMEX..AS THE CROOKS SEEMS TO BE FORCING LONGS TO TAKE DELIVERY OF LONDON FORWARDS AND NOT TAKE POSSESSION OF ANY GOLD AT THE COMEX/

end

And now for silver

AND NOW THE AUGUST DELIVERY MONTH

OCTOBER INITIAL standings/SILVER

OCT 9 2018
Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
 7018.156 oz
Delaware

 

 

Deposits to the Dealer Inventory
nil
oz
Deposits to the Customer Inventory
604,903.800
oz
DELAWARE
JPMORGAN
No of oz served today (contracts)
0
CONTRACT(S)
NIL OZ)
No of oz to be served (notices)
5 contract
(25,000 oz)
Total monthly oz silver served (contracts) 314 contracts

(1,570,000 oz)

Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

we had 0 inventory movement at the dealer side of things

 

total dealer deposits: nil oz

total dealer withdrawals: nil oz

we had 2 deposit into the customer account

i) Into JPMorgan: 602,903.970 oz

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

JPMorgan now has 142.435 million oz of  total silver inventory or 48.9% of all official comex silver. (142 million/291 million)

ii) Into  Delaware:  1999.83

 

 

 

 

 

 

 

 

 

 

 

 

 

total customer deposits today: 604,903.800  oz

we had  1 withdrawals from the customer account;

i) Out of Delaware”  7018.156 oz

total withdrawals:  7018.156 oz

 

we had 1 adjustment

i) Out of Brinks:  606,478.780 oz was adjusted out of the customer account and this landed into the dealer account of Brinks

 

 

 

 

 

 

 

 

 

 

total dealer silver:  72.901 million

total dealer + customer silver:  288.373 million oz

The total number of notices filed today for the OCTOBER 2018. contract month is represented by 0 contract(s) FOR NIL oz. To calculate the number of silver ounces that will stand for delivery in OCT., we take the total number of notices filed for the month so far at 314 x 5,000 oz = 1,570,000 oz to which we add the difference between the open interest for the front month of OCT. (5) and the number of notices served upon today (0 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the OCT/2018 contract month: 314(notices served so far)x 5000 oz + OI for front month of OCT (5) -number of notices served upon today (0)x 5000 oz equals 1,595,000 oz of silver standing for the OCT contract month.  This is a huge number of oz standing for an off delivery month.

We gained 1 contracts oran additional 5,000 oz will be standing at the Comex as these guys refused to morph into London based forwards on top of not receiving a fiat bonus .

 

 

 

 

 

 

 

 

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

ESTIMATED VOLUME FOR TODAY: 65.421 CONTRACTS   

 

 

CONFIRMED VOLUME FOR YESTERDAY: 92.211 CONTRACTS..

 

 

YESTERDAY’S CONFIRMED VOLUME OF 92,211 CONTRACTS EQUATES TO 461 million OZ  OR 65.80% 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 -3.48% (OCT 9/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -1.87% to NAV (OCT 9/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -3.48%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):

NAV 12.10/TRADING 11.59/DISCOUNT 4.33.

END

And now the Gold inventory at the GLD/

OCT 9/WITH GOLD UP $2.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 730.17

OCT 8/WITH GOLD DOWN $18.60 NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 730.17TONNES

OCT 5/WITH GOLD UP $3.75, WE HAD A BIG WITHDRAWAL OF 1.47 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 730.17 TONNES

OCT 4/WITH GOLD DOWN $1.90/WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/731.64 TONNES

OCT 3/WITH GOLD DOWN $4.05, ANOTHER HUGE REMOVAL OF 6.18 TONNES

OCT 2WITH GOLD UP $15.80 TODAY A HUGE WITHDRAWAL OF 8.35 TONNES

OCT 1…GOLD ADDS 3.94 TONNES TO THE GLDINVENTORY RESTS AT 746.17 TONNES

SEPT 28/WITH GOLD UP $8.90/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.23 TONNES

SEPT 27/WITH GOLD DOWN $10.90: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.23 TONNES

SEPT 26/WITH GOLD DOWN $6.05: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.23 TONNES

SEPT 25/WITH GOLD UP 0.75: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.23 TONNES

SEPT 24/WITH GOLD UP $3.20: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.23 TONNES

SEPT 21/WITH GOLD DOWN $9.90/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.23 TONNES

SEPT 20/WITH GOLD DOWN $2.80/A SMALL WITHDRAWAL OF .3 TONNES AND THIS IS TO PAY FOR FEES/742.23 TONNES

SEPT 18/WITH GOLD DOWN $3.00: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.53 TONNES

SEPT 17/WITH GOLD UP $5.20: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 742.53 TONNES

SEPT 14/WITH GOLD DOWN $6.95 TODAY, ANOTHER HUGE 2.65 TONNES OF GOLD WAS REMOVED FROM INVENTORY AT THE GLD..PRETTY SOON WE WILL HAVE ZERO INVENTORY/INVENTORY RESTS AT 742.53 TONNES

SEPT 13/WITH GOLD DOWN $2.65:NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 745.18 TONNES

SEPT 12/WITH GOLD UP $8.00 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 745.18 TONNES

SEPT 11/WITH GOLD UP $3.00 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD; A WITHDRAWAL OF .26 TONNES/INVENTORY RESTS AT 745.18 TONNES

SEPT 10/WITH GOLD DOWN 80 CENTS/ANOTHER HUGE 1.44 TONNES OF WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 745.44 TONNES

SEPT 7/WITH GOLD DOWN $3.75: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 746.92 TONNES

SEPT 6/WITH GOLD UP $3.05 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 746.92

SEPT 5/WITH GOLD UP $2.30 TODAY, WE HAD ANOTHER WHOPPER OF A WITHDRAWAL:  6.24 TONNES/INVENTORY RESTS AT 746.92 TONNES

SEPT 4/WITH GOLD DOWN $2.65: ANOTHER 2.65 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 755.16 TONNES/

AUGUST 31/WITH GOLD UP $2.15:ANOTHER WITHDRAWAL OF 2.06 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 757.81 TONNES

AUGUST 30/WITH GOLD DOWN $6.90: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 759.87 TONNES

AUGUST 29/WITH GOLD DOWN $2.90 (COMEX TO COMEX BUT UP 6.00 DOLLARS FROM ACCESS CLOSING) THE CROOKS RAIDED THE COOKIE JAR ONCE AGAIN TO THE TUNE OF 4.71 TONNES/INVENTORY RESTS AT 759.87 TONNES AFTER THE WITHDRAWAL.

AUGUST 28/WITH GOLD DOWN $1.60: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 764.58 TONNES

AUGUST 27/WITH GOLD UP ANOTHER $3.00: ANOTHER SURPRISE WITHDRAWAL OF 2.65 TONNES FROM THE GLD/SHAREHOLDERS OF GLD ARE DUMB OWING THIS CRAP/INVENTORY RESTS AT 764.58 TONNES

AUGUST 24/WITH GOLD UP $18.65 TODAY/A SURPRISE WITHDRAWAL OF 1.53 TONNES FROM THE GLD/INVENTORY RESTS AT 767.23 TONNES

AUGUST 23/WITH GOLD DOWN $9.20: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 768.70 TONNES

AUGUST 22/WITH GOLD UP $3.45: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 768.70 TONNES

AUGUST 21: WITH GOLD UP $5.75/A  BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.54 TONNES/INVENTORY RESTS AT 768.70 TONNES

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

OCT 9.2018/ Inventory rests tonight at 730.17 tonnes

*IN LAST 473 TRADING DAYS: 203.01 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 373 TRADING DAYS: A NET 46.48 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.

 

end

 

Now the SLV Inventory/

OCT 9/WITH SILVER UP 9 CENTS TODAY: NO CHANGE IN SILVER INVENTORY: SLV INVENTORY RESTS AT 332.912 MILLION OZ

OCT 8/WITH SILVER DOWN 33 CENTS, A GOOD SIZE WITHDRAWAL OF 563,000 OZ/INVENTORY RESTS AT 332.912 MILLION OZ.

OCT 5/WITH SILVER UP 5 CENTS, NO CHANGE IN SILVER INVENTORY AT THE SLV

OCT 4/WITH SILVER DOWN 9 CENTS/A WITHDRAWAL OF 1.316 MILLION OZ

OCT 3WITH SILVER FLAT, A GOOD INCREASE OF 1.879 MILLION OZ INTO INVENTORY

OCT 2 A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/INVENTOR RESTS AT 332.912

OCT 1.NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 333.046 MILLION  OZ.

SEPT 28/WITH SILVER UP 41 CENTS, STRANGELY WE HAD A WITHDRAWAL OF .517 MILLION OZ AT THE SLV.INVENTORY RESTS AT 333.046 MILLION OZ/

SEPT 27/WITH SILVER DOWN 10 CENTS: A HUGE WITHDRAWAL OF 1.457 MILLION OZ AT THE SLV/INVENTORY RESTS AT 333.563 MILLION OZ/

SEPT 26/WITH SILVER DOWN 9 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 335.020 MILLION OZ/

SEPT 25/WITH SILVER UP 16 CENTS: STRANGE!! A BIG CHANGE IN SILVER INVENTORY AT THE SVL: A WITHDRAWAL OF 1.645 MILLION OZ/.INVENTORY RESTS AT 335.020 MILLION OZ/

WITH SILVER DOWN ONE CENT TODAY: A HUGE DEPOSIT OF 1.692 MILLION OZ INTO THE INVENTORY OF THE SLV

INVENTORY RESTS AT 336.665 MILLION OZ/

SEPT 21/WITH SILVER UP 2 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 334.973 MILLION OZ/

SEPT 20/WITH SILVER UP 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 334.973 MILLION OZ/

SEPT 18/WITH SILVER DOWN 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 334.973 MILLION OZ/

SEPT 17/WITH SILVER UP 8 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 334.973 MILLION OZ/

SEPT 14/WITH SILVER DOWN 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 334.973 MILLION OZ/

SEPT 13/WITH SILVER DOWN 2 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.316 MILLION OZ OF SILVER ENTERS SLV INVENTORY/INVENTORY RESTS AT 334.973 MILLION OZ/

SEPT 12/WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 333.657 MILLION OZ/

SEPT 11./WITH SILVER DOWN ONE CENT TODAY/WE HAD NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 333.657 MILLION OZ/

SEPT 10.WITH SILVER DOWN 2 CENTS TODAY, WE HAD ANOTHER DEPOSIT OF 940,000 OZ/INVENTORY RESTS AT 333.657 MILLION OZ/

SEPT 7/WITH SILVER DOWN 2 CENTS (AND DOWN 48 CENTS FOR THE WEEK): WE HAD A HUGE DEPOSIT OF 3.008 MILLION OZ INTO THE SLV/

SEPT 6/WITH SILVER DOWN 4 CENTS TO: A SLIGHT CHANGE, A WITHDRAWAL OF 147,000 OZ AND THIS IS TO PAY FOR FEES/INVENTORY RESTS AT 329.709 MILLION OZ/

 

SEPT 5./WITH SILVER UP 4 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.856 MILLION OZ/

SEPT 4/WITH SILVER DOWN 37 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.856 MILLION OZ/

AUGUST 31/WITH SILVER DOWN ONE CENT TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.856 MILLION OZ/

AUGUST 30/WITH SILVER DOWN 20 CENTS TODAY, A BIG CHANGE IN SILVER INVENTORY: A DEPOSIT OF 742,000 AT THE SLV/  .INVENTORY RESTS AT 329.856 MILLION OZ/

AUGUST 29/WITH SILVER DOWN 10 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/

AUGUST 28/WITH SILVER DOWN 5 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/

AUGUST 27/WITH SILVER UP 6 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/

AUGUST 24./WITH SILVER UP 26 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/

AUGUST 23/WITH SILVER DOWN 20 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/

AUGUST 22/WITH SILVER DOWN 1 CENT/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/

 

 

 

OCT 9/2018:

 

Inventory 332.912 MILLION OZ

LIBOR SCHEDULE AND GOFO RATES:

HUGE JUMP IN LIBOR AND GOFO RATES

YOUR DATA…..

6 Month MM GOFO XXX/ and libor 6 month duration XX

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

G0FO+ XX

 

libor XX FOR 6 MONTHS/

GOLD LENDING RATE: .XX%

XXXXXXXX

12 Month MM GOFO
+ XX%

LIBOR FOR 12 MONTH DURATION: XX

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +XX

end

 

Major gold/silver trading /commentaries for TUESDAY

GOLDCORE/BLOG/MARK O’BYRNE.

Gold Bottoms As Gold Industry Consolidates and Weak Hands Capitulate

by Frank Holmes via Forbes

Get ready, gold bulls: The precious metal could be close to finding a bottom.

The price of gold fell back below $1,200 an ounce again last week as the U.S. dollar advanced following another federal funds rate hike. The precious metal logged its sixth straight month of declines, its longest losing streak since 1989.


The Barrick-Randgold merger will create the world’s largest gold miner, valued at $18 billion (U.S. GLOBAL INVESTORS, ISTOCK)

 

That gold’s not trading below $1,150 is, I believe, remarkable. There’s a lot motivating the bears right now. Besides a stronger dollar and higher interest rate, stocks are still going strong, buoyed by record buybacks and massive inflows into passive investment products. In the week ended September 20, investors poured as much as $34.3 billion into ETFs, taking year-to-date inflows to nearly $215 billion, according to FactSet data.

This makes gold mining stocks look especially attractive by comparison. Relative to U.S. blue chips, the FTSE Gold Mines Index is now at its most discounted level in over 20 years.

There are other signs that a bottom is near.

For one, Vanguard just restructured its precious metals mutual fund, slashing its exposure to the industry from 80 percent to only 25 percent. This means the world’s largest fund company will no longer offer its investors a way to participate in a potential rally in metals and mining stocks.

The last time Vanguard made a change like this, it coincided with a huge run-up in metal prices. In 2001, gold was just as unloved as it is now, prompting Vanguard to drop the word “Gold” from what was then the Gold and Precious Metals Fund.

Bad move—the precious metal went from under $300 an ounce to as high as $1,900 in September 2011.

Last week, mining giants Barrick Gold and Randgold Resources announced an $18 billion merger that, once complete, will create the world’s largest gold producer. An “industry champion for long-term value creation,” according to BMO Capital Markets, the resultant company will “operate five of the 10 ‘tier one’ gold mines on a total cash cost basis and possess numerous projects with potential to” deliver sustainable profitability.

Historically, a telltale sign that an industry has found a bottom is consolidation. Just look at the wave of mergers and takeovers in the then-struggling airline industry following the financial crisis.

Other financial firms and analysts also find the Barrick-Randgold news positive, for the two senior producers as well as metals and mining as a whole. Scotiabank believes the merger “improves [Barrick’s] overall asset quality, balance sheet, free cash flow profile, technical expertise and management team, with no takeout premium paid.” The deal, says the Royal Bank of Canada (RBC), “could spur a pick-up in M&As, which in our view could result in a turnaround in mining equity performance.”

Good news indeed as inflation continues to ramp up. The price of Brent oil, the international benchmark, closed above $80 a barrel last week for the first time since November 2014. That’s an incredible threefold increase from its recent low of $27 a barrel, set in January 2016.

The Incredible Shrinking Stock Market Is Shrinking Even Faster

As you already know, one of the key reasons why gold has been so highly valued for centuries—as a commodity and currency—is its scarcity. It makes up roughly 0.003 parts per million of the earth’s crust. According to the World Gold Council (WGC), an estimated 190,040 metric tons of the stuff have been mined since the beginning of time, leaving only 54,000 metric tons in the ground for producers to dig up, at greater and greater expense.

“Peak gold,” as some experts call it, is a real concern, one that could rocket the price of the yellow metal into the stratosphere on a supply-demand imbalance.

Scarcity, after all, is what’s helping to drive the equity bull market even higher right now. Over the past 20 years, the number of listed companies has steadily been shrinking, mostly as a result of tougher securities regulations.

And now, those companies—flush with cash thanks to last year’s corporate tax reform—are buying back their own stock at record and near-record levels.

Stock Buybacks Have Soared Faster Than Capital Spending (U.S. GLOBAL INVESTORS)

Just how much? I shared with you recently that in the June quarter alone, S&P 500 companies spent a record $190.6 billion on stock repurchases, an increase of almost 60 percent from the same quarter a year ago. Apple led the pack, taking $21.9 billion worth of stock out of circulation. That’s down slightly from the record $22.8 billion in the first quarter.

In general, Wall Street likes buybacks, which lower the number of shares outstanding. As a result, earnings per share (EPS) and dividends available per share increase even when there isn’t any profit growth.

But there are a couple of issues. First, buybacks require capital that could have otherwise been spent on investing, upgrading equipment, giving workers raises and the like. For the first time in 10 years, according to Goldman Sachs, buybacks have outstripped capital spending so far in 2018. The S&P 500 is already trading at overinflated prices, meaning companies like Apple are buying high.

Second, buybacks take shares off the market. Over the past decade, companies have bought back $4.4 trillion as historically low interest rates created, for some, a more favorable environment to float debt instead of equity. Below, I chose to highlight the consumer staples sector because the decline in shares since 2006 has been so dramatic, falling from around 32.5 billion shares to 27.5 billion shares—a decrease of more than 15 percent.

Total Shares Outstanding of S&P 500 Consumer Staples Companies Are Plunging (U.S. GLOBAL INVESTORS)

Today, “not enough shares are being issued to offset those being withdrawn from circulation,” according to Reuters. Net equity supply turned negative for the first time ever in 2016, and it could end in negative territory again by the end of this year.

Coupled with the ticking passive index bomb I wrote about earlier in the month, fundamental investing is changing. It’s hard to say where this will end—when there’s only one share of Apple left?

Prices would explode, and investing would become even more out-of-reach for many than it already is today.

7_Key_Storage_Must_Haves_-_Copy.jpg

 

 

Avoid Digital & ETF Gold – Key Gold Storage Must Haves

 

 

 

 

 

News and Commentary

Gold inches higher on safe-haven demand amid China worries (Reuters.com)

Global shares slide on China growth fears, dollar gains (Reuters.com)

IMF downbeat on global economic outlook (MarketWatch.com)

Stocks under pressure for 3rd session over fears of rising interest rates (MarketWatch.com)

Venezuela’s 2018 Inflation to Hit 1.37 Million Percent, IMF Says (Bloomberg.com)


Source: ZeroHedge

IMF Slashes US Growth Outlook, Blames Rates & Trade; Sees Venezuelan Inflation 10-Million-Percent (ZeroHedge.com)

The Crash Is Coming and Gold Will Gain As “Money-Printing Never Works” – Fred Hickey (FUW.ch)

Notice How Quickly Market Psychology Changed? (DollarCollapse.com)

Why Central America stays poor (WSJ.com)

China says it’s not afraid of a trade war with the US — its actions show otherwise (CNBC.com)

The Gold Standard: Protector of Individual Liberty and Economic Prosperity (AntoniUSAQuinas.com)

Listen on SoundCloud , Blubrry & iTunesWatch on YouTube below


Gold Prices (LBMA AM)

08 Oct: USD 1,194.80, GBP 914.86 & EUR 1,040.67 per ounce
05 Oct: USD 1,201.10, GBP 921.48 & EUR 1,045.08 per ounce
04 Oct: USD 1,199.45, GBP 925.02 & EUR 1,043.28 per ounce
03 Oct: USD 1,203.50, GBP 925.73 & EUR 1,040.55 per ounce
02 Oct: USD 1,192.65, GBP 919.77 & EUR 1,035.46 per ounce
01 Oct: USD 1,185.30, GBP 907.94 & EUR 1,021.02 per ounce

Silver Prices (LBMA)

08 Oct: USD 14.47, GBP 11.10 & EUR 12.61 per ounce
05 Oct: USD 14.64, GBP 11.23 & EUR 12.73 per ounce
04 Oct: USD 14.63, GBP 11.27 & EUR 12.72 per ounce
03 Oct: USD 14.74, GBP 11.36 & EUR 12.75 per ounce
02 Oct: USD 14.51, GBP 11.20 & EUR 12.59 per ounce
01 Oct: USD 14.55, GBP 11.16 & EUR 12.53 per ounce


Recent Market Updates

– 60 Charts For The (Last Few Remaining) Gold Bulls
– Poland and Australia Buy Gold As Global Property Bubble Bursts – This Week’s Golden Nuggets
– Brexit To Burst Dublin and London Property Bubbles? GoldCore Video
– Perth Mint’s Gold and Silver Bullion Coin Sales Soar In September
– “I’m Favouring Equities and Gold Over Bonds” – Stepek
– Poland Buys Gold For First Time In 20 years
– This Week’s Golden Nuggets – Central Banks, Goldman, Bank of America Positive On Undervalued Gold
– Central Banks Positivity Towards Gold Will Provide Long Term “Support To Gold Prices”
– Europe Unveils “Special Purpose Vehicle” With Russia and China To Bypass SWIFT, Jeopardizing Dollar’s Reserve Status
– Gold Set to Soar Above $1,300 – Goldman and Bank of America
– Goldnomics Podcast: Silver Guru – David Morgan – Silver and Gold Will Protect in the Coming Currency Collapse
– This Week’s Golden Nuggets – Dalio’s Dollar Crisis, Fitt’s U.S. Government “Missing” $21 Trillion and Silver Guru’s End of Empire

Mark O’Byrne
Executive Director

 

 

 
ANDREW MAGUIRE’S KINESIS WHICH IS A”BITCOIN’ BACKED 100% BY ALLOCATED GOLD AND SILVER

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)

 Dear Harvey Organ,

Thank you for your participation in our webinar on June 7th with our host and CEO of Kinesis, Thomas Coughlin.

The response we received has been incredible, we appreciate you taking the time to join us and hope you found it to be beneficial.

Due to such a high influx of questions we received we were unable to have them all answered. Nevertheless, if there was anything which requires more clarification, or you have a query which needs to be rectified, we invite you to join our telegram group:

https://t.me/kinesismoney

We apologize for the technical issues we incurred during the webinar which resulted in it running a little over schedule, we hope that the next one we host will run seamlessly.

A video has been put together and uploaded onto our YouTube channel which can be found here:

Kinesis Webinar

Please share and subscribe to our YouTube channel to be notified of all the latest videos as they become available.

The rapid growth that we are currently experiencing has been incredible and with your support, is only going to get better.

We are working behind the scenes very hard to create a better experience for everyone involved! Stay tuned in as we have many more announcements to be released in the upcoming days.

Kind Regards,

Kinesis Money
a:C/O ILS Fiduciaries (IOM) Limited, First Floor,Millennium House, Victoria Road, Douglas, Isle of Man IM2 4RW
    
END

 

The following is self explanatory

(courtesy GATA/Chris Powell and Harvey Organ)

GATA asks bank regulator to check risks of gold futures maneuver

 

 Section: 

12:21p ET Sunday, June 10, 2018

Dear Friend of GATA and Gold:

GATA has appealed to the U.S. comptroller of the currency, who has regulatory authority over banks, to review financial risks certain banks may have incurred through derivatives in the monetary metals markets, particularly through the recent heavy use of the “exchange for physicals” mechanism of settling gold and silver futures contracts on the New York Commodities Exchange.

The appeal was made in a letter sent May 5 to the comptroller, Joseph M. Otting, whose office is part of the U.S. Treasury Department, by your secretary/treasurer and GATA futures market consultant Harvey Organ.

“Exchange for physical” settlements of futures contracts long were considered emergency procedures when a seller was not able to deliver metal from an exchange-approved warehouse and wanted to settle with delivery elsewhere. But now such settlements appear to constitute most gold and silver futures settlements on the Comex. It is a strange development that appears to have been necessitated by the increasing difficulties of central banking’s gold and silver price suppression policy.

GATA has received no acknowledgment of the letter. Its text is below and a PDF copy of it is here:

http://www.gata.org/files/ComptrollerOfCurrencyLetter.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

May 5, 2018

Joseph M. Otting, Comptroller of the Currency
U.S. Treasury Department
400 7th Street, SW
Washington DC 20219

Dear Comptroller Otting:

Please let us bring to your attention financial risks to major banks involving their possibly unreported exposure to derivatives in the monetary metals markets.

In recent months gold and silver future contracts issued by U.S. banks on the New York Commodities Exchange have been moved off-exchange for delivery through a mechanism known as “exchange for physical” (EFP) contracts. Until recently use of this mechanism was considered an emergency procedure when a seller did not have access to metal for delivery through Comex warehouses. Now the mechanism seems to be in use for a large share of front-month contracts for which delivery is sought.

Here is an example that is happening at the Comex in the front active month of April for gold and the inactive delivery month of April for silver.

In gold, there were 229,436 EFP contracts for 713.64 tonnes, an average of 10,925 contracts and 1,092,500 ounces per trading day.

In silver, there were 77,150 EFP contracts for 385,750,000 ounces, an average of 3,673 contracts and 18,369,000 ounces per trading day.

London Bullion Market Association rules suggest that these contracts may not be reported to regulators. The LBMA’s bylaws say:

“Figures above exclude any contracts not subject to risk-based capital requirements, such as FX contracts with an original maturity of 14 days or less, futures contracts, written options, and basis swaps. Therefore, the total notional amount of derivatives by maturity will not add to the total derivatives figure in this table.”

We are told that these EFP contracts are transferred from the Comex to London as what are called “serial forwards” and their duration is always less than 14 days, which exempts them from being reported.

It is our understanding that in each quarter your office prepares a report detailing risk undertaken by the banks under the comptroller’s supervision.

These risks include derivatives undertaken by U.S. banks and other obligations that may cause a bank to fail. Our concern is that your office may not be aware of large unreported derivative exposure by banks.

Could you review this matter and let us know your conclusions?

Sincerely,

CHRIS POWELL
Secretary/Treasurer

HARVEY ORGAN
Consultant

Gold Anti-Trust Action Committee Inc.
7 Villa Louisa Road
Manchester, Connecticut 06043-7541

end

Finally, they replied and it was a complete brush off

(courtesy zerohedge)

Currency comptroller brushes off GATA’s inquiry on gold, silver EFPs

 Section: 

11:35a ET Friday, August 10, 2018

Dear Friend of GATA and Gold:

The U.S. comptroller of the currency, a bank regulator, has declined GATA’s request to inquire into the strange explosion of the use of the emergency procedure of “exchange for physicals” in the settlement by banks of the gold and silver futures contracts they have sold on the New York Commodities Exchange.

Your secretary/treasurer and GATA’s consultant about the Comex, Harvey Organ, wrote to the comptroller, James M. Otting, on May 5, calling attention to the recent enormous use of EFPs, which implies derivatives risks being undertaken by U.S. banks that could cause the banks to fail:

http://www.gata.org/node/18303

“Our concern is that your office may not be aware of large unreported derivative exposure by banks,” GATA wrote.

As months passed without any acknowledgment from the comptroller’s office, your secretary/treasurer appealed to his U.S. representative, John B. Larson, D-Connecticut, to ask the comptroller’s office to reply. The congressman’s office made a second inquiry on Monday this week and today the comptroller’s office provided Larson with a copy of a reply written and mailed Wednesday.

The comptroller’s reply, signed by the deputy comptroller for public affairs, Bryan Hubbard, said only that the comptroller’s office has “dedicated examiners” at the largest banks who “continuously evaluate the credit, market, operational, reputation, and compliance risks of bank trading and derivative activities.”

The reply did not say anything about the use of the “exchange for physicals” procedure for settling futures contracts. That is, the reply was a begrudged brushoff and GATA’s letter would have been ignored completely if not for Representative Larson’s repeated intervention.

Of course GATA hardly expected a conscientious reply to its letter, the comptroller’s office being not an independent regulator but part of the Treasury Department, whose mandate includes administration of the Gold Reserve Act of 1934, which, as amended in the 1970s, authorizes the department’s Exchange Stabilization Fund to secretly intervene in and rig any market in the world, directly or through intermediaries:

https://www.treasury.gov/resource-center/international/ESF/Pages/esf-ind…

But there’s always value in demonstrating government’s lack of candor about what it is doing, especially in regard to the monetary metals.

A PDF copy of the reply from the comptroller’s office is posted at GATA’s internet site here:

http://www.gata.org/files/ComptrollerOfCurrencyReply-08-08-2018.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

END

 

______________________________________________________________________________________________________________________________________________

Your early TUESDAY morning currency, Asian stock market results,  important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/9 AM EST

i) Chinese yuan vs USA dollar/CLOSED UP TO 6.9248/HUGE DEVALUATION FOR THE PAST FOUR WEEKS RESUMES/CHINESE COMING TO USA FOR TRADE TALKS IN NOVEMBER CANCELLED //OFFSHORE YUAN:  6.9310   /shanghai bourse CLOSED DOWN 104.84 POINTS OR 3.72%

. HANG SANG CLOSED DOWN 29.66 POINTS OR 0.11%

 

2. Nikkei closed DOWN 314.33 POINTS OR 1.32%

 

3. Europe stocks OPENED  IN THE RED 

 

 

/USA dollar index RISES TO 96.14/Euro FALLS TO 1.1436

3b Japan 10 year bond yield: RISES AT. +.16/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 113.38/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET

 

3c Nikkei now JUST BELOW 17,000

3d USA/Yen rate now well below the important 120 barrier this morning

3e WTI:: 74.70 and Brent: 84.44

3f Gold UP/JAPANESE Yen DOWN/ CHINESE YUAN:   ON SHORE UP/OFF- SHORE:  UP

3g Japan is to buy the equivalent of 108 billion uSA dollars worth of bond per month or $1.3 trillion. Japan’s GDP equals 5 trillion usa./“HELICOPTER MONEY” OFF THE TABLE FOR NOW /REVERSE OPERATION TWIST ON THE BONDS: PURCHASE OF LONG BONDS AND SELLING THE SHORT END

Japan to buy 100% of all new Japanese debt and by 2018 they will have 25% of all Japanese debt. Fifty percent of Japanese budget financed with debt.

3h Oil DOWN for WTI and DOWN FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO +.54%/Italian 10 yr bond yield UP to 3.67% /SPAIN 10 YR BOND YIELD UP TO 1.63%

3j Greek 10 year bond yield RISES TO : 4.68

3k Gold at $1186.70 silver at:14.32   7 am est) SILVER NEXT RESISTANCE LEVEL AT $18.50

3l USA vs Russian rouble; (Russian rouble DOWN 16/100 in roubles/dollar) 66.78

3m oil into the 74 dollar handle for WTI and 82 handle for Brent/

3n Higher foreign deposits out of China sees huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 113.19DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning 0.9950 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.1385 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

3p BRITAIN VOTES AFFIRMATIVE BREXIT/LOWER PARLIAMENT APPROVES BREXIT COMMENCEMENT/ARTICLE 50 COMMENCES MARCH 29/2017

3r the 10 Year German bund now POSITIVE territory with the 10 year RISING to +0.53%

The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.

4. USA 10 year treasury bond at 3.23% early this morning. Thirty year rate at 3.40%

5. Details Ransquawk, Bloomberg, Deutsche bank/Jim Reid.

6.  TURKISH LIRA:  UP  TO 6.1394

Futures Tumble As 10Y Yield Hits Fresh 7-Year High,

Italian Rout Hits Europe

Heading into Tuesday, there was just one thing traders wanted to know: how the 10Y cash Treasury would open after Monday’s US holiday and after last week’s rout which sent yields to multi-year highs (even as the 0.3% drop in the TLT ETF suggested more weakness for US rates). To their disappointment, the TSY yield promptly rose to a fresh 7-year high as soon as trading resumed, touching 3.26% in early trading.

30-year TSYs likewise dropped for a fourth day, sending yields to the highest since July 2014, ahead of the government selling a combined $38 billion of longer-maturity Treasuries this week, with futures volumes running at more than 200% of normal.

As yields rose, sentiment quickly reversed the tepid optimism that emerged in Asian trading, with U.S. futures and Asian shares falling as European equities gave up an early gain, leading to another sea of red for global stocks. JPMorgan summarized the trader mood best: “risk sentiment is in a foul mood and stocks are sinking everywhere.”

Strength in oil stocks on higher crude prices and a rise in banking stocks on increased global borrowing had initially lifted Europe’s STOXX 600 index, but it was back near a 6-month low as the early momentum faded as fears over rates and Italy returned.

As yields crept above 3.25%, both S&P 500 futures and the Stoxx Europe 600 Index were poised for a fourth day of declines. Earlier in Asia, stocks in Shanghai rose fractionally after the biggest sell-off in more than three months on Monday.

The yuan gained in onshore trading after sliding a day earlier, even though the PBOC briefly allowed the currency to slip past the 6.90 “redline.” China’s central bank fixed its yuan rate at 6.9019 per dollar on Tuesday, breaching the 6.9000 barrier and leading speculators to push the dollar up to 6.9120 in the spot market.

“With Chinese economic momentum continuing to weaken alongside increasing pressure from the United States, currency weakness is the obvious release valve,” JPmorgan warned. “A lurch through the 7.0 level by year end is possible.”

While a stronger yen put Japanese stocks under pressure, the currency ultimately pared its advance. Japan’s Nikkei fell 1.3% hurt in part by a rise in the safe-harbor yen and as yields on Tokyo’s government bonds tested the 0.15% cap the Bank of Japan effectively has on them. Pakistan’s rupee slumped about 5 percent in an apparent devaluation ahead of what looks likely to be another IMF program.

“It all feels like it’s quite nervous here over whether things going to break (out of ranges) or not,” said Saxo Bank’s head of FX Strategy John Hardy. He pointed to the rising U.S. and Japanese government bond yields which tend to set the bar for borrowing costs globally as well as the latest pressure on China’s yuan.

And with US Treasuries set for more losses, the next question was whether Italian assets would find a bid; alas it was not meant to be and Italian bonds extended declines, led by the 10-year sector, after finance minister Giovanni Tria didn’t give investors the reassurance they were hoping for in relation to growing tensions with the European Union over the nation’s budget plans.

Italy’s benchmark 10-year government bond yield also moved toward a 4-1/2-year high as Economy Minister Giovanni Tria struck a resolute tone on his controversial budget plans in Rome’s parliament. Tria said the country’s low growth doesn’t allow for a cut to debt-to-GDP, adding that “the outlook is not positive” referring to global growth during a parliamentary hearing in Rome. The 10Y Italy yield rose above 3.70%, the highest since February 2014 while the BTP-Bund spreads widened to 311 bps…

… with Italy’s FTSE MIB paring initial gains, and falling 0.4%, after gaining as much as 0.9% in early trade. Italy’s stock market is now getting close to bear market territory, down 19% since its high on May 7.

As the selling returned in Italy, it promptly spread to other European assets, with the Stoxx Europe 600 falling 0.4% and dragging the EURUSD to session lows below 1.1450.

The gloomy mood that has spread across markets did not get any help from the latest IMF report released overnight. The fund reduced its outlook for global growth for the first time since 2016, due to growing trade tensions between the world’s two largest economies. Meanwhile China’s RRR cut announced this weekend, which failed to stabilize Chinese stocks which plunged more than 3% one day later, will inevitably put pressure on the yuan, with weakness of the currency threatening to further aggravate the trade tensions in a vicious circle that could prompt more Chinese easing.

“If the trade confrontation continues, the Chinese currency will go lower and that will create a whole host of problems for the global economy,” said Alicia Levine, chief strategist at BNY Investment Management. So far there is no sign at all that the trade war has any likelihood of easing.

The global risk off mood meant more demand for safe havens like the US dollar, and the Bloomberg Dollar Spot Index advanced a second day to rise 0.2% to a six-week high as U.S. long bonds extended their recent decline. The pound came under pressure as investors started to lose hope that a Brexit agreement was imminent.

The greenback gained against all G-10 peers as the U.S. 10-year yield touched a new seven-year high; traders kept their focus on large expiries Tuesday in the majors as a thin data calendar makes case for gamma traders to control price action until New York cut off.

In commodity markets, gold got a modest safety bid at $1,191.10, having fallen 1.4% overnight. Industrial bellwethers copper and nickel jumped 1.4 and 2% . Oil prices also rose as more evidence emerged that crude exports from Iran, OPEC’s third-largest producer, are declining in the run-up to the re-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico. Brent crude added 50 cents to $84.41 a barrel and U.S. crude firmed 41 cents to $74.70.

Economic data include NFIB small business optimism survey, while several Fed speakers are due. Helen of Troy is among companies reporting earnings.

Market Snapshot

  • S&P 500 futures down 0.3% to 2,884.75
  • STOXX Europe 600 down 0.09% to 371.88
  • MXAP down 0.9% to 157.44
  • MXAPJ down 0.3% to 493.14
  • Nikkei down 1.3% to 23,469.39
  • Topix down 1.8% to 1,761.12
  • Hang Seng Index down 0.1% to 26,172.91
  • Shanghai Composite up 0.2% to 2,721.01
  • Sensex down 0.3% to 34,381.04
  • Australia S&P/ASX 200 down 1% to 6,041.07
  • Kospi down 0.6% to 2,253.83
  • German 10Y yield rose 2.5 bps to 0.554%
  • Euro down 0.2% to $1.1473
  • Brent Futures up 0.7% to $84.52/bbl
  • Italian 10Y yield rose 14.1 bps to 3.194%
  • Spanish 10Y yield rose 1.1 bps to 1.602%
  • Brent Futures up 1% to $84.73/bbl
  • Gold spot up 0.1% to $1,189.09
  • U.S. Dollar Index up 0.2% to 95.91

Top Overnight News

  • The Trump administration is concerned about the Chinese yuan’s depreciation as the Treasury Department weighs whether to name China a currency manipulator in a report due out next week, a senior Treasury official said Monday.
  • Midterm elections are looking like a no-win situation for the U.S. bond market. If Democrats take the House, it raises the odds that congressional leaders will propose an infrastructure-spending bill similar in scope to President Donald Trump’s original trillion-dollar proposal. And if the GOP defies expectations and holds on in Congress, tax cut 2.0 becomes more likely. In either case, the result will be more debt
  • Italian Finance Minister Giovanni Tria warned about the negative effects of a global trade slowdown, and said the country’s output gap with other euro-area nations is unacceptable
  • The International Monetary Fund said the world economy is plateauing as the lender cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets
  • After spending most of the summer below 15, the Cboe Volatility Index climbed as high as 18.38 on Monday, a level not reached since June 28
  • The International Monetary Fund said the world economy is plateauing as the lender cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets
  • The European Union has made “limited progress” in addressing the threat a no-deal Brexit would pose to financial services, and urgent action is needed, according to the Bank of England
  • The three British currency traders who were part of an exclusive online chat group referred to by members as “the cartel” go on trial this week for alleged market manipulation that’s already cost global banks $14 billion in penalties

Asia-Pacific stocks traded mixed as the region followed a similar picture painted on Wall St, where the Dow rose for the first time in three days, the S&P closed little changed and the Nasdaq pulled back for a third straight session. ASX 200 (-0.8%) was pressured by the healthcare and lT sectors, while Nikkei 225 (-1.4%) was playing catch-up to yesterday’s slump while also subdued by a firmer currency, after re-entering the market from a long weekend. Elsewhere, Hang Seng (+0.5%) and Shanghai Comp. (+0.5%) traded choppy and with no firm direction for most of the session, before finding a firmer footing in the green following yesterday’s mass sell-off. Finally, US Treasury yields continued to rise with the 30yr hitting 4-year highs and the 10yr revisiting levels last seen in 2011.

Top Asian News

  • Messaging Upstart Touted as WeChat Rival Wiped From Apple Store
  • Fat Pigs Fed Less Is China’s Latest Strategy as Trade War Rages
  • 2018 Echoes 1987 as Central Banks Shift Toward Tighter Policy
  • Pakistan Says It Will Seek IMF Bailout, Fueling Stock Rally

Major European indices trade broadly lower (Euro Stoxx 50 -0.5%), with the FTSE MIB hitting session lows, down -0.7%, amid reports Italy’s fiscal plan may be rejected and statements from Salvini confirming the plan will not change. Sectors are mixed, with Energy up over 1% following supply concerns stemming from Hurricane Michael’s impact on the Gulf of Mexico. Commerzbank is up over 2.4% following their upgrade to Overweight from Neutral by JP Morgan; but has not alleviated the DAX which is underperforming its peers. Aviva is also up over 1.5% following announcement that CEO Wilson will step down and is to be replace by Adria Montague. Swedebank is down by over 2.3% following a downgrade to Sell from Hold at Socgen.

Top European News

  • Royal Mail Sinks Below 2013 IPO Price Lambasted as Too Cheap
  • Ceconomy Plunges After Retailer Cuts Profit Forecast Again
  • Stay Invested in Europe Banks, Despite Italy Concerns: JPMorgan
  • No-Deal Brexit Could Cut German Exports to U.K. 57%: IW Study

In FX, G10 – It’s not quite déjà vu, but price action and trends remain broadly the same with the USD firm and outperforming all its major rivals bar the JPY amidst sour or at least fragile risk sentiment. Indeed, Usd/Jpy is slipping back towards 113.00 again having dipped just below the big figure overnight, and is currently testing the 200 WMA around 113.18. However, decent option expiry interest at 113.25 (1.1 bn) may keep the headline pair afloat, and there is a key Fib circa 112.73 providing underlying support. Conversely, the GBP and NZD are at the foot of the G10 table as Cable retests stops/bids at 1.3050 after another retreat from 1.3100 ahead of yet another UK parliamentary presentation on Brexit, while the Kiwi is pivoting 0.6450 and lagging its more resilient AUD counterpart with the cross up near 1.1000 and Aud/Usd holding close to 0.7100. Elsewhere, the EUR remains top-heavy at 1.1500 vs the Greenback and against the Pound ahead of 0.8800 due to ongoing Italian budget jitters. The CAD awaits Canadian housing starts after nothing from BoC’s Lane so far, and eyeing option expiries at 1.2950 and 1.2975 in 800 mn+, while the CHF remains relatively confined between 0.9920-50 vs the Dollar and around 1.1400 vs the Eur. DXY underpinned amidst all the above and poised to revisit 96.000. EM – Aside from further YUAN depreciation an air of consolidation pervades, with the TRY cautious within 6.0810-1340 trading parameters ahead of the Government’s plan to tackle inflation.

In commodities, both WTI and Brent are up by over 0.6% and testing USD 75/BBL and USD 85/BBL respectively following supply concerns from the Gulf of Mexico where just under 20% of crude oil production has been halted in preparation for hurricane  Michael alongside evidence that Iranian crude exports are declining. In the metals scope, gold is uneventful, with the yellow metal trading within a thin USD 3/oz range. Aluminium has fallen slightly amidst reports that Norsk Hydro are preparing to resume their aluminium refinery at half capacity in the coming weeks; currently -0.15% on the day. Iron ore futures in China are up by over 3% in today’s session, with prices supported by increased restocking demand at steel mills.

US Event Calendar

  • 6am: NFIB Small Business Optimism, est. 108.3, prior 108.8
  • 8am: Fed’s Kaplan Speaks to Economic Club of New York
  • 1pm: Fed’s Harker Speaks on Importance of Education to the Economy
  • 9:10pm: Fed’s Williams Speaks on Recent Monetary Policy Developments
  • 10:30pm: Fed’s Williams, Indonesia Cen. Bank’s Warjiyo speak to press

DB’s Jim Reid concludes the overnight wrap

Yesterday’s Treasury market holiday helped take some of the steam out of the sell off for risk assets as US equities saw a late rally in thin holiday trading to reverse some of the notable sell off in the Asian and European session. The DOW and S&P 500 outperformed, bouncing off intraday lows to close +0.15% and -0.04% respectively (the latter -0.78% at the lows as Europe went  home). Tech stocks continued to selloff with the NASDAQ and FANG indices shedding -0.67% and -1.16%, respectively, but again well off the session lows.

The VIX spiked to an intraday high of 18.38 and to the highest since July, before closing up 1.01pts at 15.83 – still the highest close since July. This came after Europe was rocked by another rout for Italian assets following a clash of heads between the populist leaders and European officials. Down for the 8th time in the last 9 session, the FTSE MIB (-2.43%) took the decline during this run to -8.39% with the index also closing below 20,000 for the first time since April 2017 and -19.12% off the near 10yr highs seen in May. The STOXX 600 by comparison was down -1.12% yesterday. The V2X index closed at 17.63 and to the second highest close since July 2nd. Italian Banks also slumped -3.71% and are now down -16.87% from the September local highs and -32.76% from the end April YTD highs. Meanwhile 10yr BTPs passed 3.50% (closing 14.4bps higher at 3.568%) for the first time since February 2014 while the 10y spread to Bunds (which fell 4.4bps yesterday to 0.529%) hit 303.9bps and to the widest since June 2013.

Sparking those moves, EU Commissioners Dombrovskis and Moscovici, in a letter sent to Italy’s Finance Minister Tria over the weekend, said that there was a “significant deviation” of budget targets put forward by the government, versus the fiscal path. On the Italian side, speaking at a joint press conference with France’s Le Pen, Italy’s Deputy PM Salvini attacked the leaders of  the European Commission including Juncker calling them the “enemies of Europe”, and added that “the politics of austerity of the  last few years have increased Italian debt and impoverished Italy”. Le Pen also weighed in on the EU elections debate next year which is becoming an increasingly significant event given the Italian situation. Le Pen called the EU a “totalitarian system” and that the aim is to win the EU elections next year and work to form a “Europe of nations”. It’s worth noting that today will see parliament in Italy begin debating the government’s budget outline. Finance Minister Tria is due to hold a number of hearings before the Lower House and Senate joint budget committees. The current timing is for the government to submit a draft budgetary plan to the EU Commission by October 15th.

After selling off last week, 10yr Bunds yet again went into flight-to-quality mode and as touched on above rallied 4.4bps. As we discussed yesterday, although we’re convinced that yields should be going higher across the globe, the biggest risk is that rising yields and tightening policy create a financial crisis or tightening of financial conditions that reverse the move for a period. With global debt-to-GDP at record levels, this is a notable risk. Ironically, Bloomberg reported yesterday that Goldman Sachs plans to cut its targets for its online retail lending platform, on credit concerns.

With the recent risk-off, we are badly exposed to evidence of higher-than-expected inflation as this would make it very tough for bonds to rally on any flight to quality trade. This would be very bad for risk. So although that’s not the forecast for this Thursday’s vital US CPI, the risks remain asymmetric for inflation at the moment.

Also weighing on sentiment yesterday was the seemingly tense exchange between US Secretary of State Pompeo and China Foreign Minister Wang Yi. Pompeo said that there was “fundamental disagreement” between the two while Wang accused the US of escalating trade disputes and interfering in the country’s domestic affairs. Wang told reporters that “these actions have damaged our mutual trust, cast a shadow over US-China relations and are completely out of line with the interests of our two people”.

This morning in Asia markets are trading mixed with Nikkei (-0.92%) down as traders returned from yesterday’s holiday while the Shanghai Comp (+0.42%) and Hang Seng (+0.37%) are up after declining by -3.72% and -1.39%, respectively, in yesterday’s trade. Elsewhere the Chinese yuan is up +0.18% against the greenback to 6.9184. The strength in the yuan assumes significance as Bloomberg reported yesterday that the White House is concerned about the Chinese yuan’s depreciation and the US treasury department is weighing naming China as a currency manipulator in a report due out next week. In the meantime, PBOC skipped its open market operation today citing high liquidity in the system. Overnight, US 10y yield has moved up by +1.1bp to 3.244% which is impressive given the risk off in Europe. This extends the 7 year highs.

In other news, the IMF slashed the global growth forecast for 2018 and 2019 to 3.7% from 3.9% earlier while keeping the US growth forecast for 2018 unchanged at 2.9% and reducing the 2019 growth forecast for US by 0.2pp to 2.5% citing the trade conflict. The IMF also sounded the alert on the global trade war saying it could take a significant bite out of global growth  estimating output could fall by more than 0.8% in 2020 and remain 0.4% below its trend line over the long term, in a scenario where US President Trump follows through on all his threats, including global duties on cars. IMF estimates output could fall by more than 1.6% in China and over 0.9% in the U.S. next year, in such a case.

Elsewhere the IMF upped the inflation forecast for the Venezuelan economy in 2018 to 1.37 million percent by the end of the year from its earlier forecast of 1 million percent. Impressive numbers.

There was some good news for markets yesterday though and that was in the performance of Brazilian assets. Indeed following the resounding victory for the far-right Bolsonaro in the first round presidential election, the Bovespa surged +4.69% yesterday while the Brazilian Real (+2.19%) ended up the top performing currency. Local currency 10y yields also rallied 45.9bps.

On the Brexit front, the pound traded as much as -0.70% weaker yesterday before retracing to close down only -0.22%. A government spokesman declined to confirm that Brexit Secretary Raab will visit Brussels this week, potentially signalling an impasse between the two parties. He also said that the UK will seek a “precise future framework” which will be more difficult to achieve than the alternative, vaguer outcome. The spokesman described the proposed Irish border solution as “temporary” which is unlikely to be acceptable to the EU. So still a lot of details to be ironed out before an agreement can be concluded this year.

The economic data front was quiet yesterday, with the main focus on Germany’s disappointing industrial production print. It showed activity fell -0.3% mom in August versus expectations for a 0.3% expansion. That marks the third consecutive downside miss, which is beginning to present more serious downside risks to third quarter GDP. Separately, the Bank of France’s Industry Sentiment survey printed at 105 for September, up 2pts and near its cyclical high.

Before we wrap up, and as mentioned at the top, Michal in my team published a report “Credit in a Post-QE World: Spread Curves vs. Rate Curves” yesterday. It analyses the co-movement of credit spread and rate curves across the cycle, examines how much the ECB QE/CSPP taper has been priced in, highlights current term premia in credit, presents views on value across credit curves and recommends macro credit trades on the back of that. You can download the full report here .

As for the day ahead, it’s another quiet one for data with August trade stats in Germany and the September NFIB small business optimism reading in the US the only releases of note. Away from that we’ll hear from the Fed’s Kaplan just after lunch when he speaks at the Economic Club of New York, before the Fed’s Harker speaks at an event in the evening. The ECB’s Villeroy de Galhau is also due to speak this afternoon, while the BoE’s Broadbent is to testify to Parliament. As mentioned earlier, keep an eye on Italy also with Finance Minister Tria due to hold a number of hearings before the joint budget committees of the Lower House and Senate on the Government’s fiscal outline for the 2019 budget. Elsewhere, today is also the day that the IMF and World Bank annual meetings get underway.

 

3. ASIAN AFFAIRS

i) TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 4.50 POINTS OR 0.17% //Hang Sang CLOSED DOWN 29.66 POINTS OR 0.11% //The Nikkei closed for 314.33 POINTS OR 1.32%/ Australia’s all ordinaires CLOSED DOWN 1.02%  /Chinese yuan (ONSHORE) closed WELL DOWN  at 6.9248 AS POBC RESUMES  ITS HUGE DEVALUATION  /DELEGATION COMING TO THE USA TO SEE TRUMP IN NOVEMBER CANCELLED/Oil UP to 74.70 dollars per barrel for WTI and 84.44 for Brent. Stocks in Europe OPENED RED//.  ONSHORE YUAN CLOSED SLIGHTLY UP AT 6.9248 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED SLIGHTLY UP ON THE DOLLAR AT 6.9310: HUGE DEVALUATION/PAST SEVERAL DAYS RESUMES// TRADE TALKS STOPPED   : /ONSHORE YUAN TRADING STRONGER  AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR COMMENCED

 

3 a NORTH KOREA/USA

 

North Korea/South Korea/USA/China

3 b JAPAN AFFAIRS

 
END

3C CHINA

4.EUROPEAN AFFAIRS

 

5.RUSSIAN AND MIDDLE EASTERN AFFAIRS

US Freezes Deripaska’s US Assets

The federal government’s scorched-earth campaign against Ukrainian-born oligarch Oleg Deripaska has traveled all the way from Russia to the Upper East Side. To wit, the New York Post reported that the US Treasury has frozen Deripaska’s US assets, including a sprawling mansion on East 64th Street in Manhattan, as it pressures Deripaska to abandon his stake in metals-and-energy holding company EN+, the London-traded holding company behind Deripaska’s controlling ownership in Rusal and other ventures.

Since being slapped with sanctions in April, Deripaska’s legal team has been negotiating with the US government for Deripaska to limit his involvement to help alleviate sanctions brought against Rusal, which have nearly triggered its collapse. Following Mueller’s unveiling of sanctions against 24 Russian oligarchs and senior political officials, Rusal found itself effectively cut off from the western banking system and global markets. Since August, Deripaska’s legal team has been negotiating with the Treasury for Deripaska to reduce his stake in EN+ and transfer some of his shares to a Russian bank (albeit one that’s also under sanctions). Most recently, Deripaska offered to cut his stake in EN+ to 45%.

Deripaska

Though his assets are under sanction, Deripaska – who famously maintained a decade-long business relationship with Paul Manafort, bankrolling Manafort’s work for a pro-Russian Ukrainian politician, until the two had a falling out – has arranged for the ex-wife of his business partner, fellow oligarch Roman Abramovich, to continue living in the residence (in unrelated news, Abramovich recently transferred $92 million worth of property to his ex-wife, Dasha Zhukova, an editor and patron of the arts, whose current address is listed as East 64th St.).

Washington has frozen Deripaska’s US-based assets, including massive mansions in Manhattan and Washington, DC. But the feds are also negotiating with him to give up some of his European-based operations to keep them running free of sanctions, Treasury officials say.

Deripaska’s US assets include a mansion at 11 East 64th St. The uber-posh residence is just down the street from fellow Ukrainian-born oligarch Len Blavatnik’s mansion, which he bought for a record $90 million earlier this year.

But although the US government has frozen Deripaska’s US assets, including his property, Deripaska has arranged to have the children and ex-wife of his business partner, the oligarch Roman Abramovich, live within its secure walls, The Post has learned.

Deripaska bought the mansion for $42.5 million in 2008. The double-wide, five-story townhouse was previously owned by the late international art dealer Alec Wildenstein and his then-wife, Jocelyn Wildenstein, and was an infamous battleground in their divorce. To be sure, Deripaska, who once worked with the FBI in an aborted plan to rescue an FBI agent imprisoned in Iran. And if Deripaska ever wants to end the bargaining with the US government, he can simply give the Mueller probe the “smoking gun” linking Trump to Putin.

end

 

6. GLOBAL ISSUES

end

7  OIL ISSUES 

8. EMERGING MARKETS

BRAZIL

end

 

 

Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings MONDAY morning 7:00 am

Euro/USA 1.1436 DOWN .0057 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems + USA election:///ITALIAN CHAOS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES  IN THE  RED 

 

 

 

USA/JAPAN YEN 113.19  UP 0.077  (Abe’s new negative interest rate (NIRP), a total DISASTER/NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL

GBP/USA 1.3042 DOWN   0.0051  (Brexit March 29/ 2017/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED

USA/CAN 1.29996  UP .0040 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS TUESDAY morning in Europe, the Euro FELL; by 57 basis point, trading now ABOVE the important 1.08 level FALLING to 1.1526; / Last night Shanghai composite CLOSED UP 4.50 POINTS OR 0.17%

 

//Hang Sang CLOSED DOWN 29.66 POINTS OR 0.11%

 

/AUSTRALIA CLOSED DOWN  1.02% / EUROPEAN BOURSES ALL RED

 

The NIKKEI: this TUESDAY morning CLOSED DOWN 314.33 POINTS OR 1.32%

 

 

 

Trading from Europe and Asia

1/EUROPE OPENED ALL RED

 

 

 

 

 

 

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 29.66 POINTS OR 0.11%

 

/SHANGHAI CLOSED UP 4.50 POINTS OR 0.17%

 

 

 

Australia BOURSE CLOSED DOWN 1.02%

Nikkei (Japan) CLOSED DOWN 314.33 POINTS OR 1.32%

 

 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1187.090

silver:$14.31

Early TUESDAY morning USA 10 year bond yield: 3.23% !!! UP 0 IN POINTS from MONDAY’S night in basis points and it is trading WELL ABOVE resistance at 2.27-2.32%. (POLICY FED ERROR)/

The 30 yr bond yield 3.41 UP 1  IN BASIS POINTS from MONDAY night. (POLICY FED ERROR)/

USA dollar index early TUESDAY morning: 95.94 UP 32  CENT(S) from FRIDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

disregard data from here down!!

I was unable to retrieve it….

And now your closing TUESDAY NUMBERS \1: 00 PM

 

Portuguese 10 year bond yield: 1.94% UP 3    in basis point(s) yield from MONDAY/

JAPANESE BOND YIELD: +.15%  DOWN 1  BASIS POINTS from MONDAY/JAPAN losing control of its yield curve/EXTREMELY VOLATILE YESTERDAY…DANGEROUS!!

SPANISH 10 YR BOND YIELD: 1.58% UP 5 IN basis point yield from MONDAY/

ITALIAN 10 YR BOND YIELD: 3.42 UP 9   POINTS in basis point yield from MONDAY/

 

 

the Italian 10 yr bond yield is trading 184 points HIGHER than Spain.

GERMAN 10 YR BOND YIELD: RISES UP TO +.53%   IN BASIS POINTS ON THE DAY//

 

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

Closing currency crosses for TUESDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1490 down .0023 or 23 basis points

 

 

USA/Japan: 113/18 down 49 basis points/

Great Britain/USA X1.3090 DOWN .0054( POUND DOWN 54 BASIS POINTS)

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

This afternoon, the Euro was FELL BY 23 BASIS POINTS  to trade at 1.1490

The Yen rose to 113/18 for a gain of 49 Basis points as NIRP is STILL a big failure for the Japanese central bank/HELICOPTER MONEY IS NOW DELAYED/BANK OF JAPAN NOW WORRIED AS AS THEY ARE RUNNING OUT OF BONDS TO BUY AS BOND YIELDS RISE

The POUND LOST 54 basis points, trading at 1.3090/

The Canadian dollar lost 25 basis points to 1.2953

 

 

The USA/Yuan,CNY closed DOWN AT 6.9307-  ON SHORE  (YUAN down)

THE USA/YUAN OFFSHORE:  6.9219 (  YUAN DOWN)

TURKISH LIRA:  6.1213

the 10 yr Japanese bond yield closed at +.15%

 

 

 

Your closing 10 yr USA bond yield up 0 IN basis points from MONDAY at 3.23 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 3.40 up 0 in basis points on the day /

THE RISE IN BOTH THE 10 YR AND THE 30 YR ARE VERY PROBLEMATIC FOR VALUATIONS

Your closing USA dollar index, 95.96 UP  14 CENT(S) ON THE DAY/1.00 PM/

Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates for TUESDAY: 1:00 PM 

London: CLOSED DOWN 85.21 POINTS OR 1.16%

German Dax : CLOSED DOWN 165.74 POINTS  OR 1.36%
Paris Cac CLOSED DOWN 59.11 POINTS OR 1.10%
Spain IBEX CLOSED DOWN 54.70 POINTS OR 0.59%

Italian MIB: CLOSED DOWN:  494.49 POINTS OR 2.43%/

 

 

WTI Oil price; XXX 1:00 pm;

Brent Oil: XXX 1:00 EST

USA /RUSSIAN /   ROUBLE CROSS:    66.61  THE CROSS LOWER BY 1 ROUBLES/DOLLAR (ROUBLE higher by 1 BASIS PTS)

USA DOLLAR VS TURKISH LIRA:  6.1213 PER ONE USA DOLLAR.

TODAY THE GERMAN YIELD RISES +.53 FOR THE 10 YR BOND 1.00 PM EST EST

END

This ends the stock indices, oil price, currency crosses and interest rate closes for today 4:30 PM

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM:XXX

 

BRENT:XX

USA 10 YR BOND YIELD: 3.23%

USA 30 YR BOND YIELD: 3.40%/

EURO/USA DOLLAR CROSS: 1.1490 ( DOWN 23 BASIS POINTS)

USA/JAPANESE YEN:113.18 DOWN .490(YEN UP 49 BASIS POINTS/ .

USA DOLLAR INDEX: 95.76 UP 14 cent(s)/

The British pound at 5 pm: Great Britain Pound/USA: 1.3090 DOWN 54 POINTS FROM YESTERDAY

the Turkish lira close: 6.1213

the Russian rouble:  66.61 UP 0.01 Roubles against the uSA dollar.( UP 1 BASIS POINTS)

 

Canadian dollar: 1.2953 DOWN 25 BASIS pts

USA/CHINESE YUAN (CNY) : 6.9307  (ONSHORE)

USA/CHINESE YUAN(CNH):  6.9219 (OFFSHORE)

German 10 yr bond yield at 5 pm: ,0.53%

 

The Dow closed  UP  39.73 POINTS OR 0.15%

NASDAQ closed DOWN 52.80  points or 0.67% 4.00 PM EST


VOLATILITY INDEX:  15.69  CLOSED UP  .87

LIBOR 3 MONTH DURATION: 2.408%  .LIBOR  RATES ARE RISING/big jump today

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

TRADING IN GRAPH FORM FOR THE DAY

 

Dow Trumps Te

 

market data

USA economic/general stories

SWAMP STORIES

 

 

SWAMP STORIES COURTESY OF THE KING REPORT

I hope to see you WEDNESDAY night
Harvey
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: