GOLD: $1275.90 UP $1.75 (COMEX TO COMEX CLOSING)
Silver: $15.03 UP 4 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : $1275.55
silver: $15.03
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING: 16/19
EXCHANGE: COMEX
CONTRACT: APRIL 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,271.900000000 USD
INTENT DATE: 04/18/2019 DELIVERY DATE: 04/23/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
661 C JP MORGAN 16
737 C ADVANTAGE 19 3
____________________________________________________________________________________________
TOTAL: 19 19
MONTH TO DATE: 6,313
NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT: 19 NOTICE(S) FOR 1900 OZ (0.0509 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 6313 NOTICES FOR 63130000 OZ (19.636 TONNES)
SILVER
FOR APRIL
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
1 NOTICE(S) FILED TODAY FOR nil OZ/
total number of notices filed so far this month: 775 for 3,875,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: OPENING MORNING TRADE :$5284 UP $24
Bitcoin: FINAL EVENING TRADE: $5343 UP =86
end
XXXX
Let us have a look at the data for today
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IN SILVER THE COMEX OI ROSE A GOOD SIZED 1029 CONTRACTS FROM 219,907 UP TO 220,936 DESPITE THURSDAY’S 0 CENT RISE IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED FURTHER FROM 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 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 GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
0 EFP’S FOR MARCH, 0 FOR APRIL, 652 FOR MAY, 120 FOR JUNE 184 FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 956 CONTRACTS. WITH THE TRANSFER OF 956 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 956 EFP CONTRACTS TRANSLATES INTO 4.78 MILLION OZ ACCOMPANYING:
1.THE 0 CENT RISE IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST NINE 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 AND
21.925 MILLION OZ FINALLY STAND FOR DECEMBER.
5.845 MILLION OZ STAND IN JANUARY.
2.955 MILLION OZ STANDING FOR FEBRUARY.:
27.120 MILLION OZ STANDING IN MARCH.
AND NOW 3.875 MILLION OZ STANDING FOR SILVER IN APRIL.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF APRIL:
27,773 CONTRACTS (FOR 15 TRADING DAYS TOTAL 27,773 CONTRACTS) OR 138.86 MILLION OZ: (AVERAGE PER DAY: 1851 CONTRACTS OR 9.257 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF MAR: 138.86 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 19.83% 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: 707,38 MILLION OZ.
JANUARY 2019 EFP TOTALS: 217.455. MILLION OZ
FEB 2019 TOTALS: 147.4 MILLION OZ/
MARCH 2019 TOTAL EFP ISSUANCE: 207.835 MILLION OZ
RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1029 DESPITE THE 0 CENT RISE IN SILVER PRICING AT THE COMEX /YESTERDAY... THE CME NOTIFIED US THAT WE HAD A GOOD SIZED EFP ISSUANCE OF 956 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) . OUR BANKERS HAVE NOT YET STARTED THEIR LIQUIDATION OF THE SPREAD TRADES.
TODAY WE GAINED A CONSIDERABLE SIZED: 1985 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 956 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH INCREASE OF 1029 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 0 CENT RISE IN PRICE OF SILVER AND A CLOSING PRICE OF $14.99 WITH RESPECT TO THURSDAY’S TRADING. YET WE STILL HAVE A STRONG 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. 1.116 BILLION OZ TO BE EXACT or 160% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED AT THE COMEX: 0 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 244,196 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 FEB 2019: 2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/ AND NOW APRIL AT 3.875 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 FELL BY A FAIR SIZED 2337 CONTRACTS, TO 436,092 DESPITE THE TINY FALL IN THE COMEX GOLD PRICE/(A LOSS IN PRICE OF $0.45//THURSDAY’S TRADING).
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 7734 CONTRACTS:
APRIL 0 CONTRACTS,JUNE: 7724 CONTRACTS DECEMBER: 0 CONTRACTS, JUNE 2020 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 436,092. 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 GOOD GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5387 CONTRACTS: 2327 OI CONTRACTS DECREASED AT THE COMEX AND 7724 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN OF 5387 CONTRACTS OR 538700 OZ OR 16.76 TONNES. THURSDAY WE HAD A TINY FALL IN THE PRICE OF GOLD TO THE TUNE OF $0.45.…AND YET WITH THAT, WE STILL HAD A VERY STRONG GAIN IN TONNAGE OF 16.76 TONNES!!!!!!.??????????????????????????????????????????
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 108,519 CONTRACTS OR 10,851,900 OR 337.53 TONNES (14 TRADING DAYS AND THUS AVERAGING: 7198 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 14 TRADING DAYS IN TONNES: 337.53 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 337.53/3550 x 100% TONNES = 9.50% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***
ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE: 1710.93 TONNES
JANUARY 2019 TOTAL EFP ISSUANCE; 531.20 TONNES
FEB 2019 TOTAL EFP ISSUANCE: 344.36 TONNES
MARCH 2019 TOTAL EFP ISSUANCE: 497.16 TONNES
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLEDRIAL 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 DECREASE IN OI AT THE COMEX OF 2337 DESPITE THE TINY LOSS IN PRICING ($0.45) THAT GOLD UNDERTOOK THURSDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7744 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 7744 EFP CONTRACTS ISSUED, WE HAD A VERY GOOD GAIN OF 5387 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
7724 CONTRACTS MOVE TO LONDON AND 2337 CONTRACTS DECREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 16.76 TONNES). ..AND THIS HUGE DEMAND OCCURRED WITH A FALL IN PRICE OF $0.45 IN THURSDAY’S TRADING AT THE COMEX.????
we had: 19 notice(s) filed upon for 1900 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 $1.75 TODAY
A SMALL CHANGE IN GOLD INVENTORY TONIGHT
A WITHDRAWAL OF .59 TONNES FROM THE GLD INVENTORY///
INVENTORY RESTS AT 751.68 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 4 CENTS TODAY:
NO CHANGE IN SILVER INVENTORY AT THE SLSV//
/INVENTORY RESTS AT 311.979 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 STRONG SIZED 1029 CONTRACTS from 219,907 UPTO 220,936 AND 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…..THE SPREADERS EN MASSE ARE WAITING UNTIL THE 23RD OR 22ND OF APRIL TO BEGIN THEIR LIQUIDATION:
HERE IS HOW THE CROOKS USED SPREADING AS WE ENTER AN ACTIVE DELIVERY MONTH. THUS SILVER HAS THE ACTIVE MONTH OF MAY COMING UP AND THUS SPREADERS DO THE FOLLOWING:
“YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST IS STARTING TO RISE IN THIS NON ACTIVE MONTH OF APRIL BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (MAY), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
EFP ISSUANCE:
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
0 CONTRACTS FOR APRIL., 652 FOR MAY, FOR JUNE 120 CONTRACTS AND JULY: 184 CONTRACTS AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 956 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 1029 CONTRACTS TO THE 956 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A STRONG SIZED GAIN OF 1985 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 10.45MILLION 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. 2.955 MILLION OZ STANDING IN FEBRUARY, 27.120 MILLION OZ FOR MARCH. AND NOW 3.875 MILLION OZ FOR APRIL.
RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE 0 CENT RISE IN PRICING THAT SILVER UNDERTOOK IN PRICING// THURSDAY. WE ALSO HAD A GOOD SIZED 956 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR THIS MONTH, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.
BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL
(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)MONDAY MORNING/ SUNDAY NIGHT:
SHANGHAI CLOSED DOWN 55.76 POINTS OR 1.70% //Hang Sang CLOSED DOWN 161.42 POINTS OR 0.54% /The Nikkei closed UP 17.34 POINTS OR 0.08%/ Australia’s all ordinaires CLOSED DOWN .01%
/Chinese yuan (ONSHORE) closed DOWN at 6.7113 AS TRUCE DECLARED FOR 3 MONTHS /Oil UP to 65.31 dollars per barrel for WTI and 73.68 for Brent. Stocks in Europe OPENED MIXED// ONSHORE YUAN CLOSED DOWN // LAST AT 6.7113 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.7119 / TRADE TALKS NOW ON/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED : /ONSHORE YUAN TRADING BELOW 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
b) REPORT ON JAPAN
Japan
3 China/Chinese affairs
i)China/
China’s Minsheng as defaulted as it was hit with a sudden rash of cross defaults orchestrated in a daisy like fashion. Many of these state owned companies are basically zombies having been amalgamated with other zombies stitched together with some new found debt. No wonder these are failing:
(ZEROHEDGE)
4/EUROPEAN AFFAIRS
i)EU/
The EU is in a massive slowdown and it is worse than the global one. The only other country in severe recession is Japan
( Daniel Lacalle)
ii) UK
The upcoming European election has Nigel Farage in the lead and that is a harbinger of things to come as many citizens want out of the EU shenanigans
( Tom Luongo)
iii)The following details how Farage will go after the Tories.
( Tom Luongo)
iv)The Tories worried that they are going to be decimated are now willing to change the rules to out Theresa May
( Mish Shedlock/Mishtalk)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)UKRAINE
A comedian who portrays Poroshenko on TV easily defeats him in the big Ukraine presidential election. He has no experience in politics
( zerohedge)
ii)TURKEY
iii)LIBYA
General Hafter has the backing of the uSA as Haftar has now secured Libya’s oil reserves as they prepare to take Tripoli
( zerohedge)
iv)Iran
6. GLOBAL ISSUES
Sri Lanka
Death toll now rises to 290 after suicide bombers hit 3 Catholic churches and 4 luxury hotels
( zerohedge)
7. OIL ISSUES
Oil surges as Washington is prepared to end the Iranian crude export waiver on March 2. USA intermediate climbs to 65. dollar per barrel and Brent topped 74 dollars]
( zerohedge)
8 EMERGING MARKET ISSUES
i)ARGENTINA
( Daniel Lacalle)
9. PHYSICAL MARKETS
iii)A great interview of Chris Powell of GATA as he explains market rigging and the fact that we have low inflation is nonsense
( Chris Powell/GATA/Greg Hunter/USAWatchdog)
iv)10. USA stories which will influence the price of gold/silver)
MARKET TRADING//early this morning/FOMC
ii)Market data
a)On a rare Good Friday release: housing starts continue to collapse..the worst annual drop in 8 years.
(zerohedge)
b)And this is followed by existing home sales slump for the 13th straight month. February’s huge spike was an anomaly. The 11.8% spike in February was revised lower to 11.2% and then March report saw a big slump down to a loss of 4.9%
(zerohedge)
ii)USA ECONOMIC/GENERAL STORIES
my goodness: Homeless people are now descending on the 4th largest airport in the USA: the San Francisco Airport.
( zerohedge)
SWAMP STORIES
i)Trump on the warpath as he states that various testimony inside the Mueller report is”bull shit”
( zerohedge)
ii)The Democrats now subpoena an unredacted Mueller report and its underlying evidence
iii)A terrific commentary on the truth of the Mueller report and what comes next:( McShay/)
iv)And here is another good commentary on the “Witch-Hunt” orchestrated by Mueller. The author wants to see Mueller in front of Congress and he is waiting for Rand Paul to say this:
“Rand Paul: BREAKING: A high-level source tells me it was Brennan who insisted that the unverified and fake Steele dossier be included in the Intelligence Report… Brennan should be asked to testify under oath in Congress ASAP.”
He correctly states that it is Obama that is worried. He knew point blank that the Russians were trying to meddle in the elections. Obama did nothing because of the Iran deal and he needed Russia on his side and thus he went soft on them
( Raul Meijer/Automatic Earth)
(courtesy New York Times/zerohedge)
vii)We are now beginning to see Main Stream Media becoming a little perturbed with Mueller. Veteran intelligence officials are blasting Mueller for not going over to interview Assange in that it was his assertion that it was the Russians who hacked the DNC servers. The one person who would knew is Assange and he was willing to be interviewed. I wonder why Mueller never went? The correct answer was that the Russians never hacked the server as it was Democrat Rich who downloaded the stuff to Wikileaks and he was murdered for that deed.
( zerohedge)
Let us head over to the comex:
AFTER APRIL, WE HAVE THE ACTIVE DELIVERY MONTH OF MAY AND HERE THE OI FELL BY 9544 CONTRACTS DOWN TO 81,084. CONTRACTS.. THE NEXT MONTH OF JUNE GAINED 97 CONTRACTS TO 231. AFTER JUNE, THE VERY BIG DELIVERY MONTH OF JULY HAD A GAIN OF 10,166 CONTRACTS UP TO 100,258 CONTRACTS.
GATA STORIES WITH RESPECT TO GOLD/PRECIOUS METALS.
Supposedly West Mint has 54 million oz of gold reserves or 22% of the nations total reserves.
(courtesy Toohey/WNYW/TV 5/New York)
* * *
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
UKRAINE
A comedian who portrays Poroshenko on TV easily defeats him in the big Ukraine presidential election. He has no experience in politics
(courtesy zerohedge)
Comedian Who “Came To Break The System” Wins Ukraine Presidential Election By Landslide
According to exit polls, millions of voters – weary of war and economic hardship – have thoroughly rebuked the incumbent elites, overwhelmingly voting for 41-year-old TV comedian Volodymyr Zelenskii in Ukraine’s presidential election today.
“I voted for Zelenskii because everything he said is true,” said Viktoriia Bengalska, a 45-year-old secretary in Kiev.
“It’s impossible to survive on this salary, prices have increased like crazy, and we were promised something totally different.”
With no political record (aside from playing the president on TV), Zelenskii crushed President Petro Poroshenko, who was running for his second five-year term, with 73% of the vote.
The comedian had been a heavy favorite ahead of today’s election according to polls.
“To all Ukrainians, no matter where you are, I promise that I will never let you down,” Zelensky said after the results came in.
“Though I’m still not president, I can say as a Ukrainian citizen to all the countries of the former Soviet Union: Look at us. Everything is possible.”
As The Washington Post notes, Zelenskii’s apparent victory is the latest in the global trend of political outsiders harnessing TV and social media to out-muscle the unpopular establishment.
“Zelenskii doesn’t have experience, and Putin is a very dangerous adversary,” said Volodymyr Fesenko, a political analyst in Kiev.
“There’s a lot of risk here.”
What happens next? The Saker explains one of two things is most likely:
Option A: Zelenskii will rapidly and energetically resume all the rabid russophobic policies of his predecessor. The topics of the Donbass and Crimea will be front and center of Ukie propaganda. At this point, Russia might as well recognize the outcome of the election (I don’t see a point in pretending that Zelenskii did not “kinda” get a popular mandate) and, in the same breath, recognize the two Novorussian Republics and let them conduct a referendum on their future.
Option B: Zelenskii will rapidly and energetically try to stop (or, at least, “freeze”) the conflict with Russia and with the Donbass. If he does that, the Kremlin will see that Zelenskii is trying to cut his losses and gain political credibility by stopping the war in the Donbass and the (utterly stupid and self-defeating) confrontation with Russia. At this point, Russia is likely not only to recognize the outcome of the election, but also serve as a mediator between the Novorussians and the Zelenskii government in Kiev to offer some kind of compromise centered around a de facto independence of the two republics combined with some kind of de jure (only!) Ukrainian sovereignty over these republics, even if only symbolical.
At least so far, all the signs are that Zelenskii will go with Option A and resume Poro’s anti-russian policies which, considering that Zelenskii is a puppet of Kolomoiskii, who himself is a puppet of the AngloZionist Empire (with, in his case, the stress of the “Zionist” part of the name) certainly makes sense.
Finally, we give the last word to Zelenskii: “I’m not a politician…I’m just a simple person who came to break the system.”
LIBYA
General Hafter has the backing of the uSA as Haftar has now secured Libya’s oil reserves as they prepare to take Tripoli
(courtesy zerohedge)
6.GLOBAL ISSUES
Sri Lanka
Death toll now rises to 290 after suicide bombers hit 3 Catholic churches and 4 luxury hotels
(courtesy zerohedge)
7 OIL ISSUES
Oil surges as Washington is prepared to end the Iranian crude export waiver on March 2. USA intermediate climbs to 65. dollar per barrel and Brent topped 74 dollars]
(courtesy zerohedge)
8. EMERGING MARKETS
ARGENTINA
At the turn of the 20 Century , Argentina was the jewel of South America. In over 120 years, the country has defaulted many times on their foreign bond issuance. Now inflation is ripping at 54%, and their currency the Argentine Peso is now at:41.64.
In 2001, the Peso was trading at one peso per USA dollar. They then devalued to 3: 1 and from that point on they have devalued steadily.
(courtesy Daniel Lacalle)
Five Reasons For The Weakness Of The Argentine Economy
Authored by Daniel Lacalle via dlacalle.com,
Argentina has been “printing money for the people” MMT-style for many years. Its wrongly-called “inclusive monetary policy” of the past – print money to finance massive government spending – has driven the country to massive inflation and depression.
This is the main reason why a country with an excellent education, human capital, and high economic potential has third-world inflation rates.
Argentina inflation rose to 54% annualized this week. Bonds spreads soared to 854 Bps, the two-year Credit Default Swap (CDS) is at 1094 bps; and the five-year at 948 Bps. But the country’s governments blame inflation on anything except its insane monetary policy
The Argentine economy is more fragile and vulnerable than similar ones. However, Argentina is also one of the countries with the highest economic potential. There are five essential factors to understand the weakness of the economy:
- The Peso. Despite the dovish policies of the Federal Reserve and the change of course in the process of normalization, the Peso is, again, the worst performing currency against the dollar in 2019. The dollar index has not moved much against its basket of currencies, therefore, it is the disastrous monetary policy that made the Peso plummet. A weak currency is a danger to the stability of the country and the successive governments only seem to want to patch up the mistaken monetary policy of the Central Bank. A weak Peso does not make the Argentine economy more competitive or export more, as reality shows. If the country does not address in a serious and determined way the error of maintaining a currency in a constant process of destruction of its purchasing power, it will simply move from crisis to crisis again.
- Monetary policy is also seriously inflationary. Not by mistake, but by design. Governments prefer to see high inflation and blame an inexistent external enemy than to stop financing the bloated public spending with newly printed currency. The loss of purchasing power of the currency is added to an inflation rate that should not correspond to a country with the potential and human capital of Argentina. Argentina has been, for many years, a country with the potential of a developed economy and a monetary policy of a third-world country. It has followed the MMT recommendations for years. Many claim that dollarization would be worse because it was already attempted and led to a crisis, except that this argument is false. Argentina did not dollarize, it carried out an exchange rate subterfuge by pegging the Peso to the US Dollar with a completely inflated exchange rate that led to the accumulation of imbalances. Argentina did not have dollars, it had pesos in disguise. Dollarization is what Ecuador did, abandoning the sucre , which allowed the country to avoid a Venezuelan-style hyperinflation.
- Very high taxes. Argentina’s tax wedge remains the highest in the region and one of the highest for companies in the world,. This constant expropriation of wealth via currency devaluation, inflation and taxes work as a huge barrier to international investment, growth and job creation. In Argentina, one always hears that “tax revenues are low” and that therefore taxes cannot be cut. However, raising them puts a lid on job creation, productive investment and the attraction of capital, and revenues are even lower.
- High government expenditure. Denying the depressive effect of extractive political spending, within a public expenditure that already reaches more than 45% of GDP, is a problem for a country with high potential. It not only is the highest public expenditure in the region but the most inefficient according to the Inter-American Development Bank. The inefficiency of public spending in Argentina reaches 7.2% of GDP.
- The loopholes of protectionism. According to the global competitiveness index of the World Economic Forum, Argentina is ranked 92 out of 137 countries. The deterioration trend generated between 2012 and 2015 has been reduced for three years, but the challenges are important. One of them is to eliminate the loopholes of anti-trade and protectionist measures imposed from the short-sighted perception that protectionism would replace imports and strengthen the economy while printing money would spur growth. There are still significant recesses of that period that act as a disincentive to growth and, above all, as a warning to global investors who prefer to avoid long-term and capital intensive investment in Argentina.
It is true that some measures have been taken to reverse these elements of fragility, but reforms must be more courageous to prevent the economy from falling further in 2019 and 2020.
It is not easy to change wrong “neo Keynesian” policies of the Kirchner era without recognizing the enormous monetary and fiscal hole created by the previous administration, but if the reforms are not decisive and clear, the Argentine economy will continue to be fragile and more vulnerable to economic cycles than other similar ones. Argentina is a great country with terrible monetary and fiscal policies. With such potential for growth and employment, it is worthwhile to be brave and put an end to the remnants of past wrong policies
Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings MONDAY morning 7:00 AM….
Euro/USA 1.1249 UP .0009 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /MIXED
USA/JAPAN YEN 111.92 UP .068 (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 1.2986 UP 0.0009 (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT EXTENDED TO OCT 31/2019//
USA/CAN 1.3362 DOWN .00019 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 MONDAY morning in Europe, the Euro ROSE by 9 basis points, trading now ABOVE the important 1.08 level RISING to 1.1249 Last night Shanghai COMPOSITE CLOSED DOWN 55.76 POINTS OR 1.76%.
//Hang Sang CLOSED DOWN 161.42 POINTS OR 0.54%
/AUSTRALIA CLOSED DOWN .01%// EUROPEAN BOURSES //MIXED
The NIKKEI: this MONDAY morning CLOSED UP 17.34 POINTS OR 0.08%
Trading from Europe and Asia
1/EUROPE OPENED MIXED
2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 161.42 POINTS OR 0.54%
/SHANGHAI CLOSED DOWN 55.76 POINTS OR 1.70%
Australia BOURSE CLOSED DOWN .01%
Nikkei (Japan) CLOSED UP 17.34 POINTS OR 0.04%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 1279.35
silver:$15.05
Early MONDAY morning USA 10 year bond yield: 2.57% !!! UP 1 IN POINTS from THURSDAY’S night in basis points and it is trading WELL ABOVE resistance at 2.27-2.32%.
The 30 yr bond yield 2.97 UP 1 IN BASIS POINTS from THURSDAY night.
USA dollar index early TUESDAY morning: 97.33 DOWN 4 CENT(S) from THURSDAY’s close.
This ends early morning numbers MONDAY MORNING
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And now your closing MONDAY NUMBERS \12: 00 PM
Portuguese 10 year bond yield: 1.19% UP 2 in basis point(s) yield from THURSDAY/
JAPANESE BOND YIELD: -.03% DOWN 0 BASIS POINTS from THURSDAY/JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 1.07% DOWN 0 IN basis point yield from THURSDAY
ITALIAN 10 YR BOND YIELD: 2.60 DOWN 0 POINTS in basis point yield from THURSDAY/
the Italian 10 yr bond yield is trading 153 points HIGHER than Spain.
GERMAN 10 YR BOND YIELD: RISES +.03% IN BASIS POINTS ON THE DAY//
THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 2.57% 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 MONDAY
Closing currency crosses for MONDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1259 DOWN .0059 or 59 basis points
USA/Japan: 111.94 UP 0.086 OR YEN DOWN 9 basis points/
Great Britain/USA 1.2983 UP .0006 POUND UP 6 BASIS POINTS)
Canadian dollar UP basis points to 1.3346
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The USA/Yuan,CNY closed AT 6.7121 0N SHORE (down)
THE USA/YUAN OFFSHORE: 6.7138 (YUAN DOWN)
TURKISH LIRA: 5.8358.EXTREMELY DANGEROUS LEVEL.
the 10 yr Japanese bond yield closed at -.03%
Your closing 10 yr USA bond yield UP 3 IN basis points from THURSDAY at 2.589 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2,993 UP 2 in basis points on the day /
Your closing USA dollar index, 97.29 DOWN 9 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 MONDAY: 12:00 PM
London: CLOSED DOWN 11.47 0.15%
German Dax : UP 69.32 POINTS OR 0.57%
Paris Cac CLOSED UP 17.29 POINTS OR 0.31%
Spain IBEX CLOSED UP 32.10 POINTS OR 0.24%
Italian MIB: CLOSED DOWN 44.29 POINTS OR 0.20%
WTI Oil price; 65.88 1:00 pm
Brent Oil: 74.47 12:00 EST
USA /RUSSIAN / ROUBLE CROSS: 63.81 THE CROSS LOWER BY 0.21 ROUBLES/DOLLAR (ROUBLE HIGHER BY 21 BASIS PTS)
TODAY THE GERMAN YIELD RISES TO +.03 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 : 65.70
BRENT : 74.11
USA 10 YR BOND YIELD: … 2.585… STILL DEADLY//
USA 30 YR BOND YIELD: 2.99..STILL DEADLY
EURO/USA 1.1257 ( UP 17 BASIS POINTS)
USA/JAPANESE YEN:111.94 UP .088 (YEN DOWN 6 BASIS POINTS/..
USA DOLLAR INDEX: 97.30 DOWN 8 cent(s)/
The British pound at 4 pm: Great Britain Pound/USA:1.2981 DOWN 4 POINTS
the Turkish lira close: 5.837
the Russian rouble 63.79 DOWN 22 Roubles against the uSA dollar.( DOWN 22 BASIS POINTS)
Canadian dollar: 1.3349 DOWN 30 BASIS pts
USA/CHINESE YUAN (CNY) : 6.7121 (ONSHORE)/
USA/CHINESE YUAN(CNH): 6.7127 (OFFSHORE)
German 10 yr bond yield at 5 pm: ,+0.03%
The Dow closed DOWN 48.49 POINTS OR 0.18%
NASDAQ closed UP 17.21 POINTS OR 0.22%
VOLATILITY INDEX: 12.41 CLOSED UP .32
LIBOR 3 MONTH DURATION: 2.581%//
FROM 2.591
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
Oil Jumps, Small Caps Dump On Lowest Volume Day Of The Year
The gap between global money-supply-fueled equity exuberance and macro- and micro-economic data has never been greater…
Nothing to see here.. move along…
…
With Europe away, volumes were the lightest of the year as China tumbled…
US Small Caps were the biggest laggard today and Nasdaq led, barely closing green…a buying-panic began at 1530ET which made things look a little better…
NOTE – it seems the machines forgot that EU was closed as they rallied the market into the “EU Close”.
This is the 9th straight session of oscillating gains and losses for The Dow.
Small Caps have now underperformed Mega Caps for seven straight trading days…
But 2900 is all that matters for the S&P 500 traders…
(last 6 days closes for the S&P 500 – 2907, 2906, 2907, 2900, 2905, 2906)
Treasury yields were higher on the day, despite equity weakness (long-end underperformed)…
30Y remains below 3.00%…
The yield curve steepened further…
The Dollar flatlined for the second day as most of the world remained on Easter holiday…
Bitcoin is holding gains after some notable selling across cryptos on Saturday…
PMs trod water along with the dollar but crude spiked as copper was dumped…
WTI soared overnight – smashing through a significant technical level – on the back of Trump Iran waiver headlines…
But tried and failed to break $66 twice…
Finally, this morning’s dismal housing data sent US Macro Surprise Index to its lowest since June 2017…
Because nothing says record high stocks like the worst macro economy in two years and worst relative to the world.
We’re gonna need more cowbell (but no more cows)…
AOC will not be happy!!
end
MARKET TRADING/ EARLY AFTERNOON TRADING
ii)Market data/
On a rare Good Friday release: housing starts continue to collapse..the worst annual drop in 8 years.
(zerohedge)
SWAMP STORIES
Trump on the warpath as he states that various testimony inside the Mueller report is”bull shit”
(courtesy zerohedge)
END
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