GOLD: $1310.75 UP $0.35 (COMEX TO COMEX CLOSING)
Silver: $15.71 DOWN 1 CENT (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : 1310.50
silver: $15.73
For the entire week, China has been off for their lunar New Year. China is such a huge purchaser of physical gold, the crooks now have an easy time shorting gold/silver because they do not have to cover until Monday.
For comex gold and silver:
FEBRUARY
NUMBER OF NOTICES FILED TODAY FOR FEB CONTRACT: 28 NOTICE(S) FOR 2800 OZ (0.087 tonnes
TOTAL NUMBER OF NOTICES FILED SO FAR: 8890 NOTICES FOR 889,000 OZ (27.651 TONNES)
SILVER
FOR FEBRUARY
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
11 NOTICE(S) FILED TODAY FOR 55,000 OZ/
total number of notices filed so far this month: 500 for 2,600,000
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: OPENING MORNING TRADE $3409: UP 5
Bitcoin: FINAL EVENING TRADE: $3401 DOWN $71
end
XXXX
JPMorgan or Goldman Sachs are taking a huge issuance (stopping) of gold at the comex.
today 15/32
EXCHANGE: COMEX
CONTRACT: FEBRUARY 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,309.500000000 USD
INTENT DATE: 02/06/2019 DELIVERY DATE: 02/08/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
661 C JP MORGAN 3
661 H JP MORGAN 12
686 C INTL FCSTONE 1
690 C ABN AMRO 20
737 C ADVANTAGE 6 5
800 C MAREX SPEC 1
880 H CITIGROUP 8
____________________________________________________________________________________________
TOTAL: 28 28
MONTH TO DATE: 8,890
Let us have a look at the data for today
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In silver, the total OPEN INTEREST ROSE BY A GOOD SIZED 1055 CONTRACTS FROM 207,101 UP TO 208,276 DESPITE YESTERDAY’S 13 CENT LOSS IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED CLOSER TO AUGUST’S 2018 RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WE NOW HAVE JUST LESS THAN 22 MILLION OZ STANDING IN DECEMBER. 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 SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
788 EFP’S FOR MARCH, 0 FOR APRIL, 0 FOR MAY, 0 FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 788 CONTRACTS. WITH THE TRANSFER OF 788 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 788 EFP CONTRACTS TRANSLATES INTO 1.175 MILLION OZ ACCOMPANYING:
1.THE 13 CENT LOSS IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST SIX MONTHS:
JUNE/2018. (5.420 MILLION OZ);
FOR JULY: 30.370 MILLION OZ
FOR AUG., 6.065 MILLION OZ
FOR SEPT. 39.505 MILLION OZ S
FOR OCT.2.525 MILLION OZ.
FOR NOV: A HUGE 7.440 MILLION OZ STANDING FOR NOVEMBER AND
21.925 MILLION OZ FINALLY STAND FOR DECEMBER.
5.845 MILLION OZ STAND IN JANUARY.
AND NOW 2.595 MILLION OZ STANDING FOR FEBRUARY.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY: 4998 CONTRACTS (FOR 6 TRADING DAYS TOTAL 4998 CONTRACTS) OR 24.990 MILLION OZ: (AVERAGE PER DAY: 833 CONTRACTS OR 4.165 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF FEB: 24.990 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 3.57% 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 2019 TO DATE SILVER EFP’S: 242.45 MILLION OZ.
JANUARY 2019 EFP TOTALS: 217.455. MILLION OZ.
RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1055 DESPITE THE 13 CENT LOSS IN SILVER PRICING AT THE COMEX //YESTERDAY..THE CME NOTIFIED US THAT WE HAD SMALL SIZED EFP ISSUANCE OF 788 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 STRONG SIZED: 1843 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 788 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH INCREASE OF 1055 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 13 CENT LOSS IN PRICE OF SILVER AND A CLOSING PRICE OF $15.72 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY
In ounces AT THE COMEX, the OI is still represented by JUST OVER 1 BILLION oz i.e. 1.047 BILLION OZ TO BE EXACT or 150% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED AT THE COMEX: 11 NOTICE(S) FOR 55,000 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 244,196 CONTRACTS 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:
- 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: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ JANUARY AT 5.825 MILLION OZ.AND NOW FEB 2019: 2.595 MILLION OZ/
- 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.
- HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
- 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 FAIR SIZED 1857 CONTRACTS UP TO 481,593 DESPITE THE FALL IN THE COMEX GOLD PRICE/(A LOSS IN PRICE OF $4.85//YESTERDAY’S TRADING).
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3148 CONTRACTS:
MARCH HAD AN ISSUANCE OF 0 CONTACTS APRIL 3148 CONTRACTS, DECEMBER: 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 481,593. 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 AN A VERY GOOD SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5293 CONTRACTS: 2145 OI CONTRACTS INCREASED AT THE COMEX AND 2145 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 5293 CONTRACTS OR 529,300, OZ = 16.46 TONNES. AND ALL OF THIS DEMAND OCCURRED WITH A LOSS IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $4.85.
YESTERDAY, WE HAD 5510 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY : 31,781 CONTRACTS OR 3,178,100 OZ OR 96.77 TONNES (6 TRADING DAYS AND THUS AVERAGING: 5296 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 6 TRADING DAYS IN TONNES: 96.77 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 96.77/2550 x 100% TONNES = 3.79% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***
ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE: 4,730.2 TONNES
JANUARY 2019 TOTAL EFP ISSUANCE; 531.20 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 1857 DESPITE THE LOSS IN PRICING ($4.85) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 3148 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 3148 EFP CONTRACTS ISSUED, WE HAD A GOOD GAIN OF 5,005 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
3148 CONTRACTS MOVE TO LONDON AND 1857 CONTRACTS INCREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 15.56 TONNES). ..AND ALL OF THIS DEMAND OCCURRED WITH THE LOSS OF $4.85 IN YESTERDAY’S TRADING AT THE COMEX
we had: 28 notice(s) filed upon for 2800 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 UP $0.35 TODAY
THE FRAUD CONTINUES:
ANOTHER STRONG PAPER WITHDRAWAL OF 2.06 TONNES
/GLD INVENTORY 809.76 TONNES
Inventory rests tonight: 809.86 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 DOWN 1 CENT IN PRICE TODAY:
NO CHANGES IN INVENTORY AT THE SLV.
/INVENTORY RESTS AT 309.656 MILLION OZ.
end
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in SILVER ROSE BY A GOOD SIZED 1055 CONTRACTS from 207,101 DOWN TO 208,156 AND MOVING CLOSER TO 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:
788 CONTRACTS FOR MARCH. 0 CONTRACTS FOR MAY., 0 FOR DECEMBER AND AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 788 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI GAIN AT THE COMEX OF 1055 CONTRACTS TO THE 788 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A STRONG GAIN OF 1843 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 9.815 MILLION 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… OVER 2 million OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER., 7.440 MILLION OZ FINALLY STANDING IN NOVEMBER. 21.925 MILLION OZ STANDING IN DECEMBER , 5.845 MILLION OZ STANDING IN JANUARY..AND NOW 2.595 MILLION OZ STANDING IN FEBRUARY.
RESULT: A FAIR SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 13 CENT PRICING LOSS THAT SILVER UNDERTOOK IN PRICING// YESTERDAY.BUT WE ALSO HAD A GOOD SIZED 788 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
i)THURSDAY MORNING/ WEDNESDAY NIGHT:
SHANGHAI CLOSED CHINESE NEW YEAR //Hang Sang CLOSED NEW YEAR /The Nikkei closed UP 29.61 PTS OR 0.14%/ Australia’s all ordinaires CLOSED UP 0.39%
/Chinese yuan (ONSHORE) closed DOWN at 6.7422 AS TRUCE DECLARED FOR 3 MONTHS /Oil DOWN to 53.60 dollars per barrel for WTI and 62.41 for Brent. Stocks in Europe OPENED RED //.
ONSHORE YUAN CLOSED DOWN AT 6.7422AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.7837: / TRADE TALKS NOW ON/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER 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//USA
b) REPORT ON JAPAN
3 C/ CHINA
i) CHINA/USA
My goodness, the Clintons are involved with Huawei as the company has deep ties to the former Sec of state Hillary Clinton and President Bill Clinton
( Dick Morris/WesternJournal.com)
4/EUROPEAN AFFAIRS
i)UK
Not good for England this morning after the Bank of England slashes its GDP forecast for the year as well as warning of rising BREXIT damage
( zerohedge)
iii)Germany/Wirecard
Looks like we have another massive fraud on our hands with respect to German based Wirecard as a whistleblower exposes accounting fraud.
(courtesy zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6. GLOBAL ISSUES
7. OIL ISSUES
8 EMERGING MARKET ISSUES
i)VENEZUELA/USA
Admiral states that the USA is now military ready to protect uSA personnel in Venezuela.
( zerohedge)
9. PHYSICAL MARKETS
10. USA stories which will influence the price of gold/silver)
MARKET TRADING
b)) Then: stocks further collapse on reports that Trump and Xi will not meet
ii)Market data/
a)Another good indicator to suggest the economy is faltering: Class 8 heavy truck orders just crashed by 68% in January
( zerohedge)
( zerohedge)
d)Marriage rates are down, while cohabiting rates are up. Young adults refuse to marry because mainly their student debt is just too high. Also family formations is in decline and again due to the high student and auto debt
( Mishtalk,Mish Shedlock)
e)Quite a stat: The total debt of Americans that still have student loans and are over 60 years of age is a whopping $86 billion dollars.
( zerohedge)
f)Moody’s warns the new Illinois Governor that his state is in dire shape. He warns that any new taxes will make more residents to flee and thus less citizens to pay the taxes and purchase goods to stimulate their economy
( Dabroski/Klingner/WirePoints.com
iv)SWAMP STORIES
TRUMP is furious as Schiff hires former National Security Council to trying and find stuff on him. These guys are deep staters and will stop on nothing. This is going to be a huge witch hunt
( zerohedge)
end
Let us head over to the comex:
THE NEXT NON ACTIVE DELIVERY MONTH AFTER FEBRUARY IS THE VERY BIG AND ACTIVE DELIVERY MONTH OF MARCH AND HERE THE OI FELL BY 2574 CONTRACTS DOWN TO 131,912 CONTRACTS. AFTER MARCH, APRIL ROSE FROM 18 OPEN INTEREST CONTRACTS TO STAND AT 26 FOR A GAIN OF 8. AFTER APRIL, THE NEXT BIG ACTIVE DELIVERY MONTH IS MAY AND HERE THE OI ADVANCED BY 3472 CONTRACTS UP TO 43,570 CONTRACTS.
FOR COMPARISON SILVER COMEX CONTRACT MONTH FEB 2018 VS FEB 2019
ON FIRST DAY NOTICE FEB 1/2018 CONTRACT MONTH WE HAD 670,000 OZ. AT THE MONTH’S CONCLUSION WE HAD 2.035 MILLION OZ STAND AS WE WITNESSED QUEUE JUMPING ON A REGULAR BASIS AT THE SILVER COMEX.
TODAY THE INITIAL AMOUNT OF SILVER STANDING IS 2.050 MILLION OZ./
comex gold volumes are getting extremely low as players just do not want to play in this casino.
ITALEX
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
6. GLOBAL ISSUES
A global crash is coming: the entire world’s economies are entering contraction/crisis
(courtesy Graham Summers/Phoenix Research Capital)
This Is Your Final Warning Before Things Get UGLY
The next leg down is officially here.
The big picture story for the markets is that the US/China trade deal is no longer important. Even if the two nations did agree on a perfect deal that resolves the structural issues between their economies (highly improbable), the fact is that the global credit cycle has turned and we are entering a contraction/ crisis.
Europe is now officially weakening with most major economies (Germany, France, Italy and Spain) approaching, if not already in, recessions.
The market is fully aware of this. The German DAX has ended its bull market from the 2009 low. This latest rally is a pathetic dead cat bounce in the context of a larger bear market.
The situation is even worse in China. There we have the beginning of complete systemic collapse as the largest pile of garbage debt/ financial fraud finally blows up. China spends $25 in debt for every $1 in GDP growth. And its economy is growing, at best, by 2% per year.
The market similarly knows this which is why China has broken in 20+ year bull market trendline. The Chinese stock market has been in a series of successive bubbles followed by spectacular crashes for the last two decades. This time around, the Crash will be something truly astonishing to behold.
This leaves the US, where despite all the fanfare, the economy is almost certainly contracting if not already in a full-blown recession.
Maxing out your credit card is very different from getting a raise. What’s happened in the US in the last two years is the country maxing out its credit card on a personal, state, and national level.
Here again the market knows this, which is why we’ve broken the bull market trendline from the 2009 lows. The ultimate downside for this collapse is at best 2,000, and more likely than not we’ll go to the high 1,000s (think 1,750-1,800).
A Crash is coming…
end
Another indicator of a global slowdown: Advertising giant Publicis, suffers an historic rout as USA consumer brand spending tumbles
(courtesy zero hedge)
Ad Industry Suffers Historic Rout As US Consumer Brand Spending Tumbles
While search and social network companies, most of the funded by advertising, have left the bruising selloff of December far in the rearview mirror, as investors rush to bid up the high beta, high growth sector once again, the broader advertising market is suffering from a sharp repricing which today manifested itself in the world’s biggest advertising companies losing more than $5 billion in market value in under 24 hours.
The rout, as Bloomberg notes, began Wednesday around midday in New York and spread around the globe after Paris-based ad giant Publicis Groupe said Q4 sales fell “unexpectedly” because of a decline in business with consumer goods brands in the U.S. Publicis shares plunged as much as 15%, their biggest intraday drop since the Sept. 11 terrorist attacks in the U.S.
News of the unexpected industry slowdown promptly sent shares of Publicis’ biggest rivals tumbling as much as 9% once the implications for the wider industry sank in: after all, if consumer goods makers had less need for Publicis’ services, the same applies to WPP, Omnicom Group, Dentsu and Interpublic. Worse, Publicis has been seen as an early mover in shifting to the new digitally-driven advertising that’s supposed to keep corporate marketing departments loyal to the old ad firms. The fact that it had gotten no traction was clearly dismal news for the entire sector.
In emailed comments to Bloomberg, Mirabaud analyst Neil Campling said consumer goods companies can have as many as 25 ad agencies working for them and that looks inefficient. The alternative: just use Amazon and “connect directly to consumers”
“The key area hit is North America,” Campling said. “The combination of consumer packaged goods and North America for us points to the rise of Amazon more than anything else, offering a brand new channel for brands to connect directly to consumers.”
Meanwhile, in addition to an relentless shift to pure-play digital names such as Google and Facebook, Amazon has also been profiting from the shift away from legacy businesses; as a result its advertising revenue has been growing almost as fast as AWS as the company starts to give more prominent placement to sponsored products in search results, rather than those offering the lowest prices, while charging generously for said placement. Investors see the area as even more profitable than its main e-commerce business.
7 OIL ISSUES
8. EMERGING MARKETS
Venezuela/USA
Admiral states that the USA is now military ready to protect uSA personnel in Venezuela.
(courtesy zerohedge)
Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings THURSDAY morning 7:00 AM….
Euro/USA 1.1335 DOWN .0031 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 RED
USA/JAPAN YEN 109.79 DOWN 0.171 (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…DEADLY TO OUR YEN SHORTERS
GBP/USA 1.2885 DOWN 0.0058 (Brexit March 29/ 2017/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED
USA/CAN 1.3247 UP .0032 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 THURSDAY morning in Europe, the Euro FELL by 31 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1394/ Last night Shanghai composite closed /OFF FOR THE WEEK/CHINESE NEW YEAR
//Hang Sang CLOSED CHINESE NEW YEAR
/AUSTRALIA CLOSED UP 1.10% /EUROPEAN BOURSES RED
The NIKKEI: this THURSDAY morning CLOSED DOWN 122.78 POINTS OR 0.59%
Trading from Europe and Asia
1/EUROPE OPENED RED
2/ CHINESE BOURSES / :Hang Sang CLOSED CHINESE NEW YEAR
/SHANGHAI CLOSED CHINESE NEW YEAR
Australia BOURSE CLOSED UP 1.10%
Nikkei (Japan) CLOSED DOWN 122.78 PTS OR 0.59%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 1306.20
silver:$15.66
Early THURSDAY morning USA 10 year bond yield: 2.67% !!! DOWN 2 IN POINTS from WEDNESDAY’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 3.01 DOWN 2 IN BASIS POINTS from WEDNESDAY night. (POLICY FED ERROR)/
USA dollar index early THURSDAY morning: 96.63 UP 24 CENT(S) from WEDNESDAY’s close.
This ends early morning numbers THURSDAY MORNING
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And now your closing THURSDAY NUMBERS \12: 00 PM
Portuguese 10 year bond yield: 1.66% UP 0 in basis point(s) yield from WEDNESDAY/
JAPANESE BOND YIELD: -.01% DOWN 0 BASIS POINTS from WEDNESDAY/JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 1.24% DOWN 2 IN basis point yield from WEDNESDAY
ITALIAN 10 YR BOND YIELD: 2.96 UP 10 POINTS in basis point yield from WEDNESDAY/
the Italian 10 yr bond yield is trading 172 points HIGHER than Spain.
GERMAN 10 YR BOND YIELD: FALLS UP TO +.11% IN BASIS POINTS ON THE DAY//
THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 2.85% AND NOW ABOVE THE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A MASSIVE BANK RUN…
END
IMPORTANT CURRENCY CLOSES FOR THURSDAY
Closing currency crosses for THURSDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1358 DOWN .0008 or 8 basis points
USA/Japan: 109.70 DOWN 0.007 OR 7 basis points/
Great Britain/USA 1.2971 UP.0038( POUND UP 38 BASIS POINTS)
Canadian dollar DOWN 72 basis points to 1.3287
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The USA/Yuan,CNY closed HOLIDAY AT 6.7422 0N SHORE (YUAN CLOSED)
THE USA/YUAN OFFSHORE: 6.7844( YUAN DOWN)
TURKISH LIRA: 5.2600
the 10 yr Japanese bond yield closed at -.01%
Your closing 10 yr USA bond yield DOWN 3 IN basis points from WEDNESDAY at 2.66 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 3.01 DOWN 1 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, 96.43 UP 4 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 THURSDAY: 12:00 PM
London: CLOSED DOWN 79.51 OR 1.11%
German Dax : DOWN 302.70 POINTS OR 2.67%
Paris Cac CLOSED DOWN 93.49 POINTS OR 1.84%
Spain IBEX CLOSED DOWN 162.60 POINTS OR 1.79%
Italian MIB: CLOSED DOWN 518,15 POINTS OR 2.59%
WTI Oil price; 52.24 12:00 pm;
Brent Oil: 61.13 12:00 EST
USA /RUSSIAN / ROUBLE CROSS: 66.08 THE CROSS HIGHER BY 0.21 ROUBLES/DOLLAR (ROUBLE LOWER BY214 BASIS PTS)
TODAY THE GERMAN YIELD FALLS +.11 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 : 52.64
BRENT : 61.68
USA 10 YR BOND YIELD: … 2.66..
USA 30 YR BOND YIELD: 3.00
EURO/USA DOLLAR CROSS: 1.1346 ( DOWN 20 BASIS POINTS)
USA/JAPANESE YEN:109.84 DOWN.145 (YEN UP 15 BASIS POINTS/..
.
USA DOLLAR INDEX: 96.56 UP 17 cent(s)/
The British pound at 4 pm: Great Britain Pound/USA:1.2952 UP 18 POINTS FROM YESTERDAY
the Turkish lira close: 5.2645
the Russian rouble 65.97: DOWN .10 Roubles against the uSA dollar.( down 10 BASIS POINTS)
Canadian dollar: 1.3301 DOWN 86 BASIS pts
USA/CHINESE YUAN (CNY) : 6.7422 (ONSHORE)/CLOSED FOR THE WEEK
USA/CHINESE YUAN(CNH): 6.7847 (OFFSHORE)
German 10 yr bond yield at 5 pm: ,0.11%
The Dow closed down 220.77 POINTS OR 0.87%
NASDAQ closed down 86.893 POINTS OR 1.18%
VOLATILITY INDEX: 16.54 CLOSED UP 1.16
LIBOR 3 MONTH DURATION: 2.737% .LIBOR RATES ARE FALLING/
FROM 2.738
And now your more important USA stories which will influence the price of gold/silver
TRADING IN GRAPH FORM FOR THE DAY/WEEKLY SUMMARY/FOLLOWED BY TODAY
Stocks, Bond Yields Tumble On Global Growth, China Talks Anxiety
European economies are collapsing along with global sovereign bond yields… but stocks seem to have found something to love (hint rhymes with Schmentral Schmank Schmiquidty)… how long are they willing to let this decoupling from reality last?
Total desperation to ensure the world thinks…
When in fact its circling the drain.
China remains closed for the lunar new year celebrations but Yuan tumbled on the Kudlow comments...
Worst day of the year for German and Italian stocks as the parade of terrible economic data finally breaks the bad news is good news meme…
Larry Kudlow spoiled the party early on after stocks rebounded magically at the cash open…
But we did see dip-buying after Europe closed – Nasdaq was worst, Trannies best…
S&P failed to break its 200DMA for the second day and broke down below its 100DMA…
Nasdaq and S&P ended the day giving up all their February gains…
US equities also started to play catch down to crude’s recent demise…
Equity and Credit protection costs spiked… IG spreads spiked the most since mid-December…
And stocks started top catch down to bond yields’ reality…
Treasury Yields tumbled across the curve…
30Y broke back below 3.00%…
And the market is repricing the uber-dovish Fed (expecting rates to drop 10bps in 2019!)…
The dollar is up for the 6th day in a row – the longest win streak since Dec 2017…but note that it rolled over at what looks like key resistance…
We wonder what happens when the Chinese come back from their lunar new year celebrations.
Notably, EM FX has been tumbling as the USD surged and EM sovereign debt was hit today…
Cryptos were quiet again after yesterday’s chaos…
Despite dollar gains, PMs managed to rally (safe haven), copper was flat, and crude tumbled…
Gold dipped and ripped back to unchanged…
WTI tested $51 handle intraday…
Finally, we note that, while it’s surely just a coincidence but, US equity markets suffered their biggest drop since the start of the year on the day when AOC unveiled her full-socialist-utopia “Green New Deal”…
market trading/
stocks tumble after Kudlow warns on poor trade talks
a)S&P
Stocks Tumble Through Key Technical Level After Kudlow Warns On Trade Talks
It appears White House advisor Larry Kudlow is today’s ‘bad cop’ as he just told Fox Business that “there is a pretty sizable distance to go” in US-China trade talks (adding that Xi and Trump “will meet at some point”). That has taken the shine off the latest algo BTFD ramp…
Dow is down over 200 points…
And all major US equity indices are at the lows of the day…
Perhaps most critically, having failed twice at the 200DMA, the S&P 5000 has just broken back below the 100DMA…
Stocks Erase February Gains On Reports Trump-Xi Won’t Meet
The S&P and Nasdaq are now in the red for Februaru after Larry Kudlow’s comments on the US-China talks and a further story from CNBC that Trump is ‘highly unlikely’ to meet Chinese President Xi before March 1 trade deadline, sources say (via @kaylatausche).
The Dow is down 340 points and S&P, Nasdaq, and Small Caps are now red for February…
That escalated quickly…
Offshore yuan is also tumbling on the news…
MARKET DATA
USA ECONOMIC STORIES OF INTEREST
Another good indicator to suggest the economy is faltering: Class 8 heavy truck orders just crashed by 68% in January
(courtesy zerohedge)
SWAMP STORIES
TRUMP is furious as Schiff hires former National Security Council to trying and find stuff on him. These guys are deep staters and will stop on nothing. This is going to be a huge witch hunt
(courtesy zerohedge)
Janet Yellen says global slowdown in places like China and Europe is a growing threat to US https://t.co/UiPZanAu1z
Former Fed Chief Yellen Says Rates Next Move Could Be Up or Down [depending on stocks?]
Justice Department opens probe into Jeffrey Epstein plea deal [not Epstein, the DoJ attorneys involved in the disturbing deal – Google “Lolita Express”; Mueller was FBI Dir.] https://hrld.us/2RJXqwW
How a future Trump Cabinet member gave a serial sex abuser the deal of a lifetime [in 2007]
Facing a 53-page federal indictment, Epstein could have ended up in federal prison for the rest of his life.
Not only would Epstein serve just 13 months in the county jail, but the deal… essentially shut down an ongoing FBI probe into whether there were more victims and other powerful people who took part in Epstein’s sex crimes… https://www.miamiherald.com/news/local/article220097825.html
Solomon: Mueller hauled before secret FISA court to address FBI abuses in 2002, Congress told
Most of the omissions occurred in FBI work that pre-dated Mueller’s arrival, the sources said. But the court wanted assurances the new sheriff in town was going to stop such widespread abuses…
Thanks to Anderson’s recounting of the episode from 16-plus years ago, we now know the FISA judges don’t tolerate omissions of material facts and were angry enough in an earlier time to haul the FBI director into court to make their point. Anderson testified Mueller got to see that lesson up close and personal. The question now is, do the current FISC judges and Justice Department supervisors — Deputy Attorney General Rod Rosenstein and FBI Director Christopher Wray among them —care the same about the integrity of the FISA process?…
@ABC: Pres. Trump calls House Intelligence Committee Chair Adam Schiff a “partisan hack” and dismisses his plans to launch broad new intel probe. “He has no basis to do that…It’s called presidential harassment.” https://t.co/GiLzWOe0WU
Adam Schiff Showboats, Republicans Call His Bluff on Russia Probe
Republicans with the House Permanent Select Committee on Intelligence Tuesday submitted a motion to immediately publish dozens of witness transcripts in the Russia Trump investigation that were turned over for declassification review, stating it is “part of the process of publishing them for the American people to see.”… The Republican motion was in response to now Democratic Chairman Adam Schiff’s proposal to turn over all the witness interviews to Special Counsel Robert Mueller’s office for review. Those witness interviews, however, are already available to Mueller…
https://saraacarter.com/adam-schiff-showboats-republicans-call-his-bluff-on-russia-probe/
NYT: Firms Recruited by Paul Manafort Are Investigated Over Foreign Payments
Key figures who worked at the three firms — Mercury Public Affairs, the Podesta Group and Skadden, Arps, Slate, Meagher & Flom… former Obama White House counsel Gregory B. Craig…
The case has drawn intense interest in Washington in part because of theprominence of the three main figures, each of whom has played high-profile roles in politics and lobbying…
https://www.nytimes.com/2019/02/05/us/politics/paul-manafort-news-ukraine.html
Liz Warren is finished as a national candidate. The WaPo discovered that when she applied to the Texas Bar Association on April 11, 1986, she designated her race as ‘American Indian’.
Socialism and late-term abortion, thanks to some blue-state near-birth abortion initiatives, are emerging as key issues for 2020. This is why DJT addressed both issues in his SOTU address.
Trump shows he’s playing to win with bold State of the Union address
The state of the union is frighteningly divided and hostile… He derided the rising calls on the far left for a socialist approach to economics, declaring, “America will never be a socialist country.”…
The heart of the speech, of course, was the battle over immigration… Pols and their donors have walls and guards, he said, while “working-class Americans are left to pay the price of illegal immigration.”
While most of his remarks were necessarily aimed at people watching at home, that one was a right hook to the Democrats — and some squishy Republicans — in front of him…
https://nypost.com/2019/02/06/trump-shows-hes-playing-to-win-with-bold-state-of-the-union-address/
WSJ’s @KimStrassel: Democrats, including all those women in white, sit motionless at the call to restrict late-term abortion–which polls show 70-80% of public disapproves. Who is out of step with the country?
The media has been proven again to be extremely thin-skinned and hypocritical.
Twitter Locks Daily Caller EIC’s Account Over Traumatizing “Learn To Code” Tweet
The phrase “learn to code” went viral last month after hundreds of journalists were laid off at the Huffington Post and BuzzFeed. Said outlets notably insulted laid-off middle American coal-miners by recommending they “learn to code” – which 4chan users then turned around on the journalists. Thus, the meme was born… [The media gives it out 24/7 but when they are snarked, it’s snowflake city!]
end