GOLD: $1295.55 DOWN $5.45 (COMEX TO COMEX CLOSING)
Silver: $14.79 UP 2 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : 1297.00
silver: $14.80
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING 42/43
EXCHANGE: COMEX
CONTRACT: MAY 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,300.100000000 USD
INTENT DATE: 05/13/2019 DELIVERY DATE: 05/15/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
657 C MORGAN STANLEY 3
661 C JP MORGAN 42 28
737 C ADVANTAGE 1 12
____________________________________________________________________________________________
TOTAL: 43 43
MONTH TO DATE: 232
NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT: 43 NOTICE(S) FOR 4300 OZ (0.1337 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 232 NOTICES FOR 23200 OZ (.7216 TONNES)
SILVER
FOR MAY
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
13 NOTICE(S) FILED TODAY FOR 65,000 OZ/
total number of notices filed so far this month: 3373 for 16,865,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: OPENING MORNING TRADE :$8060 UP $258.00
Bitcoin: FINAL EVENING TRADE: $7642 DOWN $31
end
XXXX
Let us have a look at the data for today
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IN SILVER THE COMEX OI ROSE BY A CONSIDERABLE SIZED 1934 CONTRACTS FROM 201,956 UP TO 203,890 DESPITE YESTERDAY’S 2 CENT LOSS IN SILVER PRICING AT THE COMEX. ,LIQUIDATION OF THE SPREADERS HAVE STOPPED FOR SILVER BUT IT NOW IN FULL FORCE FOR GOLD. 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 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 FOR MAY, 0 FOR JUNE, 1163 FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 1163 CONTRACTS. WITH THE TRANSFER OF 1163 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 1163 EFP CONTRACTS TRANSLATES INTO 5.82 MILLION OZ ACCOMPANYING:
1.THE 2 CENT FALL 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.
3.875 MILLION OZ STANDING FOR SILVER IN APRIL.
AND NOW 18.335 MILLION OZ STANDING FOR SILVER IN MAY.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MAY:
12,868 CONTRACTS (FOR 10 TRADING DAYS TOTAL 12,868 CONTRACTS) OR 64,34 MILLION OZ: (AVERAGE PER DAY: 1260 CONTRACTS OR 6.30 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF MAY: 64,34 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 9.19% 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: 805.44 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
APRIL 2019 TOTAL EFP ISSUANCE: 182.87 MILLION OZ.
RESULT: WE HAD A CONSIDERABLE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1934 WITH THE TINY 2 CENT FALL IN SILVER PRICING AT THE COMEX /YESTERDAY... THE CME NOTIFIED US THAT WE HAD A GOOD SIZED EFP ISSUANCE OF 1164 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 RESUMED THEIR LIQUIDATION OF THE SPREAD TRADES TODAY.
TODAY WE GAINED A STRONG SIZED: 3097 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 1163 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH INCREASE OF 1934 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 2 CENT FALL IN PRICE OF SILVER AND A CLOSING PRICE OF $14.77 WITH RESPECT TO YESTERDAY’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. 1.020 BILLION OZ TO BE EXACT or 145% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED AT THE COMEX: 13 NOTICE(S) FOR 65,000 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 FEB 2019: 2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/ APRIL AT 3.875 MILLION OZ/ AND NOW MAY: 18.335 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 CRIMINALLY SIZED 31,765 CONTRACTS, TO 520,485 WITH THE STRONG RISE IN THE COMEX GOLD PRICE/(AN INCREASE IN PRICE OF $15,25//YESTERDAY’S TRADING).
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 9488 CONTRACTS:
APRIL 0 CONTRACTS,JUNE: 9488 CONTRACTS DECEMBER: 0 CONTRACTS, JUNE 2020 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 520,485. 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 ATMOSPHERIC AND CRIMINALLY SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 41,253 CONTRACTS: 31,765 OI CONTRACTS INCREASED AT THE COMEX AND 9488 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN OF 41,253 CONTRACTS OR 4,125,300 OZ OR 128,31 TONNES. YESTERDAY WE HAD A GAIN IN THE PRICE OF GOLD TO THE TUNE OF $15,25….AND WITH THAT STRONG RISE, WE HAD AN UNBELIEVABLE GAIN OF 128.31 TONNES!!!!!!.??????
AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:
“AS YOU WILL SEE, THE CROOKS HAVE NOW SWITCHED TO GOLD AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX GOLD OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.
HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NO INTO THE NON ACTIVE DELIVERY MONTH OF MAY HEADING TOWARDS THE VERY ACTIVE DELIVERY MONTH OF JUNE.
AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES, HERE IS THE BANKERS MODUS OPERANDI:
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST IS STARTING TO RISE IN THIS NON ACTIVE MONTH OF MAY BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN GOLD WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (JUNE), 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.”
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 59,969 CONTRACTS OR 5,996,900 OR 186.52 TONNES (10 TRADING DAYS AND THUS AVERAGING: 5997 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 10 TRADING DAYS IN TONNES: 186.52 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 186.52/3550 x 100% TONNES =5,25% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***
ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE: 2002.08 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
APRIL 2019 TOTAL ISSUANCE: 456.10 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: AN ATMOSPHERIC SIZED INCREASE IN OI AT THE COMEX OF 31,765 WITH THE STRONG RISE IN PRICING ($15.25) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9488 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 9488 EFP CONTRACTS ISSUED, WE HAD AN ATMOSPHERIC AND CRIMINALLY SIZED GAIN OF 41,253 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
9488 CONTRACTS MOVE TO LONDON AND 31,765 CONTRACTS INCREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 128,31 TONNES). ..AND THIS HUGE DEMAND OCCURRED WITH A STRONG RISE IN PRICE OF $15.25 IN YESTERDAY’S TRADING AT THE COMEX. NO DOUBT THAT A STRONG PERCENTAGE OF OI GAIN WAS DUE TO THE CONTINUING OF THE SPREADING OPERATION AS I HAVE OUTLINED ABOVE.
we had: 43 notice(s) filed upon for 4300 oz of gold at the comex.
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With respect to our two criminal funds, the GLD and the SLV:
GLD...
WITH GOLD DOWN $5.45 TODAY
THE FOLLOWING MAKES A LOT OF SENSE:
A MASSIVE DEPOSIT OF 3.23 TONNES OF GOLD
INVENTORY RESTS AT 733.23 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 2 CENTS TODAY:
NO CHANGE IN SILVER INVENTORY AT THE SLV//
/INVENTORY RESTS AT 316.582 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 CONSIDERABLE SIZED 1934 CONTRACTS from 201,956 UPTO 203,890 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 HAVE STOPPED THEIR LIQUIDATION IN SILVER BUT HAVE NOW MORPHED INTO GOLD..
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., 0 FOR MAY, FOR JUNE 0 CONTRACTS AND JULY: 1163 CONTRACTS AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1163 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 1934 CONTRACTS TO THE 1163 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A STRONG GAIN OF 3097 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 15.455 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 7.475 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., 3.875 MILLION OZ FOR APRIL AND NOW 18.335 MILLION OZ FOR MAY
RESULT: A CONSIDERABLE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE TINY 2 CENT LOSS IN PRICING THAT SILVER UNDERTOOK IN PRICING// YESTERDAY. WE ALSO HAD A GOOD SIZED 1163 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
)TUESDAY MORNING/ MONDAY NIGHT:
SHANGHAI CLOSED DOWN 20.10 POINTS OR 0.69% //Hang Sang CLOSED DOWN 428.22 POINTS OR 1.50% /The Nikkei closed DOWN 124.55 POINTS OR 0.59%//Australia’s all ordinaires CLOSED DOWN .85%
/Chinese yuan (ONSHORE) closed DOWN at 6.8816 /Oil UP to 61.64 dollars per barrel for WTI and 71.08 for Brent. Stocks in Europe OPENED GREEN// ONSHORE YUAN CLOSED DOWN // LAST AT 6.9068 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.8816 TRADE TALKS STILL ON//TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/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 /TRADE DEAL NOW DEAD..TRUMP THREATENS TO RAISE RATES TO 25%
3A//NORTH KOREA/ SOUTH KOREA
i)NORTH KOREA
b) REPORT ON JAPAN
3 China/Chinese affairs
i)China/USA/
Jeffrey Snider outlines the warning signs that we must be cognizant of: the low price of copper, the higher yen values, and lower CNY exchange and the scarcity of dollars floating around the globe: all indicators of a massive global slowdown. He states that we should not pay any attempt to the Chinese threatening to dump dollars
( Jeffrey Snider/Alhambra Investment Partners)
ii)Although both Trump and Chinese leaders toned down the rhetoric today which caused the European and USA markets to rise, the Chinese media seem very upset with the USA. They are calling for a people’s war against the USA and vowing to fight for a “New World”
( zerohedge)
4/EUROPEAN AFFAIRS
i)ITALY
Again, Salvini aggravates Brussels: this time Italy declares wars on boats rescuing immigrants
( zero hedge)
( zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Turkey
A little background to this story: Israel made this very big discovery of natural gas and some oil off its coast several years ago. They knew that the discovery was heading onto Cyprus and told sovereign Cyprus on the nature of that discovery. You will recall that Cyprus had a civil war in 1974 between Greece and Turkey whereby an armistice was established in that Northern Cyprus would be governed by Turkish Cypriots and the rest of the country by Greek Cypriots. The capital Nicosia would be under control of Greek Cypriots. Turkey never recognized the Greek overthrow of Cyprus and now that a massive amount of gas has been discovered and badly needed by Turkey, you can now see why Turkey is ready to go to war over this.
( zerohedge)
6. GLOBAL ISSUES
Cuba
Crisis begins in Cuba as there is widespread rationing of food: so much for socialism
( zerohedge)
7. OIL ISSUES
8 EMERGING MARKET ISSUES
VENEZUELA
9. PHYSICAL MARKETS
( South China Morning post/GATA)
ii)Mike Kosares posts his views on gold/silver in this May report which is now in the open
( USA Gold/Mike Kosares)
iii)This is deadly as James Turk claims that counter party risk (credit default swaps) are rising fast and that should be good for gold.
(James Turk/GATA)
iv)A slow down in gold demand from China last month coming in at 151.89 tonnes. It will improve next month.
v)Lawrie Williams tackles the USA China trade war with respect to gold With respect to who will win the war between the USA and China it is up in the air. Williams thinks that China will win.( Lawrie Williams)
10. USA stories which will influence the price of gold/silver)
MARKET TRADING//
ii)Market data
this is not what the Fed wants to see: USA import, export prices disappoint as China’s deflationary impulse hits a 12 year low
In a nutshell, China is sending deflation throughout the globe due to its excess capacity
( zerohedge)
ii)USA ECONOMIC/GENERAL STORIES
USA/China
a)USA posts details on the 300 billion dollars of remaining goods to be tariffed.
( zerohedge)
b)A USA trade official states that a trade deal is not even close: It could be in for a long trade war with China.
( zerohedge)
e)It looks like Boeing will need to shell out over one billion dollars for those doomed 737 Max passengers(courtesy zerohedge)
SWAMP STORIES
a)Barr selects apolitical Attorney John Durham, a non nonsense fellow to head the investigation into FBI/DOJ spying. He has also investigated the FBI before
( zero hedge)
c)Clapper is nervous; he now claims: “we don’t need another investigation of the investigators”. I wonder why he thinks that
( zerohedge)
Let us head over to the comex:
IT LOOKS LIKE THE RATS ARE FLEEING A SINKING SHIP!
Gold withdrawals;
i) We had 1 withdrawal:
from the Bank of Nova Scotia: 8219.138 oz
.
GATA STORIES WITH RESPECT TO GOLD/PRECIOUS METALS.
Slowly and surely many nations are moving away from the dollar. Today we find that Asian leaders are adding Chinese yuan and Japanese yen to the reserve buffers
(courtesy South China Morning post/GATA)
* * *
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
TURKEY/
A little background to this story: Israel made this very big discovery of natural gas and some oil off its coast several years ago. They knew that the discovery was heading onto Cyprus and told sovereign Cyprus on the nature of that discovery. You will recall that Cyprus had a civil war in 1974 between Greece and Turkey whereby an armistice was established in that Northern Cyprus would be governed by Turkish Cypriots and the rest of the country by Greek Cypriots. The capital Nicosia would be under control of Greek Cypriots. Turkey never recognized the Greek overthrow of Cyprus and now that a massive amount of gas has been discovered and badly needed by Turkey, you can now see why Turkey is ready to go to war over this.
(courtesy zerohedge)
Turkey Flexes In “Largest Ever” East-Med Naval Drills Amid Cypriot Oil & Gas Grab
Turkey kicked off its “largest ever” military drills conducted in the Mediterranean and Aegean Seas on Monday. Though the drills are pre-scheduled “annual” exercises, the massively beefed up Turkish naval presence comes as Cyprus is pressing the EU to address illegal Turkish oil and gas drilling inside Cyprus’ exclusive economic zone.
Turkish state-run TRT World described the exercise known as “Sea Wolf 2019” as including a total of 131 warships, 57 warplanes and 33 helicopters — the largest force deployment in the exercise’s history.
The games will extend to the Black Sea as well, and is set to run through May 25; it will further involve “submarines, frigates, naval artilleries, armed UAVs, as well as search and rescue units” engaging in “strategic and operational exercises with scenarios similar to crisis-tension situations and wartime,” according to Turkish sources.
The west supported Greek Cypriot government and Turkey – the latter which occupies northern Cyprus – have overlapping claims of jurisdiction for offshore oil and gas research in the natural gas-rich eastern Mediterranean.
Turkey has laid claim to a waters extending a whopping 200 miles from its coast, brazenly asserting ownership over a swathe of the Mediterranean that even cuts into Greece’s exclusive economic zone. Ankara has in the past demanded that Cyprus formally recognize the breakaway Turkish Republic of Northern Cyprus (since 1974) and allow it to share revenues from Cypriot gas exploration.
Last week the president of Cyprus Nicos Anastasiades slammed Turkey for what he called the “unprecedented escalation of illegal action” which constitutes a “second invasion” in the eastern Mediterranean
Meanwhile, Turkish President Recep Tayyip Erdogan has reportedly been provocatively sending warships in support of gas exploration and drilling vessels near Cypriot waters over the past months in order to ward off foreign competition to oil and gas research, according to Cypriot officials, also seeking to bar Cypriot ships and planes from freely traversing its own European recognized waters.
Turkish state media footage of the games as they kick off Monday.
On Monday TRT World reported separately just as the war games were kicking off:
Ankara plans to start drilling near the island of Cyprus, in a project that Turkey says is within the rights of his country.
Elaborating on the issue, Turkish President Recep Tayyip Erdogan said, “The legitimate rights of Turkey and the Northern Cypriot Turks over energy resources in the eastern Mediterranean are not open for argument. Our country is determined to defend its rights and those of Turkish Cypriots. We expect NATO to respect Turkey’s rights in this process and support us in preventing tensions.”
The extensive Turkish claims around Cyprus have been condemned by the US, European Union, and Egypt, with NATO officials recently signalling to Turkey that it was out of line.
But Turkish Foreign Minister Mevlut Cavusoglu confirmed early this month that “we are starting drilling” in the region, perceiving that EU and NATO leadership have merely long paid lip service to Cypriot and Greek complaints.
Should the Turkish military attempt to enforce its drilling claims and run up against Cypriot and Greek vessels, it could spark a deadly encounter which would force the EU and NATO to finally weigh in more forcefully.
Turkey has been frequently flexing its military might amid the territorial showdown, conducting the “Blue Homeland” drills between Feb. 27 and March 8 earlier this year.
So this week’s massive naval exercise will be the second in only a few months, just as EU leaders are planning to consider Cyprus’ allegations during meetings at the end of May and in June.
end
IRAN
Reuters report that Iranian proxies or Iranians themselves damaged those ships in UAE waters
(courtesy Reuters)
US Official – Iran or Iranian Proxies Damaged Ships in UAE Waters – Report
US officials said Monday that initial assessments of an incident over the weekend in which four oil tankers were damaged by explosions in Emirati waters point to Iranian involvement.
Four oil tankers — two Saudi, one Emirati and one Norwegian — off the coast of the Fujairah, in the United Arab Emirates, suffered on Sunday what the UAE Foreign Ministry called “sabotage operations.” The explosion blew a five-to-10 foot hole in each ship near or just below the water line, a US military team told AP Monday.
“Iranian or Iranian-backed proxies” are believed to be behind the attack, according to US officials.
Fujairah is Abu Dhabi’s only major port on the Arabian Sea. In the event of war, Tehran has already threatened to close the Strait of Hormuz, immediately strangling 20% of world seaborne oil trade, making Fujairah of great strategic importance.
While the explosions weakened the structures of the four vessels, none suffered any injuries or deaths and no oil was leaked from the ships, Sputnik noted.
Iranian Foreign Ministry spokesman Abbas Mousavi earlier on Monday called the incident “worrisome and dreadful,” adamantly denying Tehran’s involvement.
“Such incidents have a negative impact on maritime transportation security,” Mousavi said, decrying the incident whether it was “orchestrated by ill-wishers” or “adventurism by foreigners.”
The US has deployed extensive military forces to the region in recent days, with nuclear-capable B-52 bombers arriving in Qatar and the aircraft carrier USS Abraham Lincoln sailing into the region as well. Last month, US President Donald Trump declared Iran’s Revolutionary Guard Corps (IRGC) a terrorist entity, claiming the group was responsible for US service member deaths in Syria and Iraq.
In early August 1964, a similar incident occurred in the Gulf of Tonkin, off the coast of North Vietnam. Amid another massive US military buildup off the coast of a country Washington was threatening with military action, reports of attacks on US ships by North Vietnamese gunboats led to the US Congress authorizing the use of military force against Hanoi in response to the provocations.
However, it was later revealed that no such attack ever happened. A US National Security Agency internal memo declassified in 2005 revealed that no North Vietnamese ships were present at that time.
END
IRAN/USA
A leaked document plans for a huge 120,000 deployment of troops to counter Iran. Trump later refuted this story as fake news
(courtesy zerohedge)
Leaked Pentagon Plan Calls For 120,000 Troops To Counter Iran
As Michael Pompeo travels to Brussels to discuss the Iranian threat amid a flare-up in tensions that has brought the US to the brink of an armed conflict, the New York Times has published details from a confidential military plan presented to top national security officials that envisions sending as many as 120,000 troops to the Middle East should Iran attack American forces or start ramping up work on nuclear weapons (something it has promised to do if its European partners don’t meet their commitments under the Iran deal).
Though the revised plan – it had been modified to incorporate suggestions from John Bolton – doesn’t include plans for a land invasion, it does reflect “the influence of Mr. Bolton, one of the administration’s most virulent Iran hawks, whose push for confrontation with Tehran was ignored more than a decade ago by President George W Bush.”
It’s unclear whether Trump himself has seen, or been briefed on, the plan. Asked about it, Trump said “we’ll see what happens with Iran. If they do anything, it would be a very bad mistake.”
Here are a few key details from the plan according to more than a half-dozen senior administration officials who spoke with the NYT:
- The 120,000 troops called for in the plan would be close to the size of the force that invaded Iraq in 2003. The reversal of the US troop presence in the region under Obama and Trump has reportedly emboldened leaders in Tehran and the IRGC that there’s no appetite in the US for a war with Iran. Deploying this many troops would take weeks or months.
- The most likely trigger for a US military response is still an attack by the IRGC The guard’s fleet of small boats has a history of approaching American Navy ships at high speed. Though the plan includes provisions for a US response if Iran once again starts stockpiling nuclear fuel. If Iran does start stockpiling enriched uranium again, the US would have more than a year to formulate a more coherent response, since it would take at least that long for Iran to stockpile anything close to enough to fashion a weapon.
- Cyberweapons would be used to paralyze the Iranian economy during the opening salvo of the conflict, in the hopes that this would be enough to cripple Iran before any bombs were dropped. Such an operation would call for “implants” or “beacons” inside US networks. Though, given Iran’s increasingly sophisticated cyberweapons, such an attack would still pose “significant risks.”
- This is not the first time since joining the administration that Bolton has sought updated plans for an invasion of Iran. Though it’s widely believed that the president remains opposed to such an incursion. Bolton requested an update after Iranian-backed militants fired three mortar shells into an empty lot on the grounds of the US embassy in Baghdad.
- One of the options offered up as a proportional response was a strike on a Iranian military facility that would have been “mostly symbolic.”
While a war with Iran still seems unlikely, if Iran starts stockpiling enriched uranium again as it has threatened to do, it could give Bolton and his fellow neocons exactly the opening they need to successfully push for a military intervention.
END
6.GLOBAL ISSUES
Cuba
Crisis begins in Cuba as there is widespread rationing of food: so much for socialism
(courtesy zerohedge)
Crisis Begins: Cuba Begins Widespread Rationing Due To Shortages
Last month, the Trump administration imposed new sanctions on Cuba and Venezuela, attempting to tighten the vice on Havana to end its support for Venezuelan president, Nicolas Maduro. As a result, Cuba launched widespread rationing of staple foods and hygiene products due to shortages triggered by US trade embargos, reported Al Jazeera.
After a month of shortages, Cuban authorities announced Friday the rationed sale of chicken, eggs, rice, beans, soap, and other essential items, “to avoid hoarding and ensure greater access.”
Commerce Minister Betsy Díaz told the Cuban News Agency that rationing would be used to deal with shortages of staple foods. Díaz condemned the Trump administration for triggering the latest crisis developing throughout the country.
“Our mission is to fracture all the measures the US government imposes, and today we are setting priorities,”Diaz said on a state-run media broadcast.
Cuba imports approximately two-thirds of its food and small shortages have been common throughout the years. In recent weeks, many products have been missing from store shelves for days, and long lines have sprung up with many waiting for scarce products like chicken and beans.
Amid the developing economic crisis on the Caribbean island, Cuban youth have flooded onto social media under the hashtag #lacolachallenge (queue challenge) to shed light on the shortage.
Many Cubans find themselves standing in line for hours, waiting for products to arrive, a problem the government has blamed on “hoarders.”
“The country’s going through a tough moment. This is the right response. Without this, there’ll be hoarders. I just got out of work and I was able to buy hot dogs,” said Lazara Garcia, a 56-year-old tobacco-factory worker.
Product rationing has already begun in many municipalities across the island, with government-run grocery stores currently limiting bottles of cooking oil.
Cuban officials admitted that a liquidity crunch has hit the country after commercial debt hit $ 1.5 billion with suppliers late last year, as well as the renewed US sanctions, have complicated things for the centrally planned government.
“We depend on imports that come from the United States, and this has meant that we have had to look for alternatives to be able to secure the product in the market,” Díaz told local media.
It seems that an economic crisis is unfolding in Cuba and the dangers are beginning to emerge with food shortages across the country.
7 OIL ISSUES
8. EMERGING MARKETS
VENEZUELA
Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings TUESDAY morning 7:00 AM….
Euro/USA 1.1234 UP .0002 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 /GREEN
USA/JAPAN YEN 109.66 DOWN 0.502 (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 1.2948 DOWN 0.0015 (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT EXTENDED TO OCT 31/2019//
USA/CAN 1.3463 DOWN .0016 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 ROSE BY 2 basis points, trading now ABOVE the important 1.08 level RISING to 1.1234 Last night Shanghai COMPOSITE CLOSED DOWN 20.10 POINTS OR 0.69%
//Hang Sang CLOSED DOWN 428.22 POINTS OR 1.50%
/AUSTRALIA CLOSED DOWN .85%// EUROPEAN BOURSES GREEN
The NIKKEI: this TUESDAY morning CLOSED DOWN 124.55 POINTS OR 0.59%
Trading from Europe and Asia
EUROPEAN BOURSES ALL GREEN
2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 428.22 POINTS OR 1.50%
/SHANGHAI CLOSED DOWN 20.10 POINTS OR 0.69%
Australia BOURSE CLOSED DOWN .85%
Nikkei (Japan) CLOSED DOWN 124.55 POINTS OR 0.59%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 1296.75
silver:$14.65
Early TUESDAY morning USA 10 year bond yield: 2.41% !!! UP 1 IN POINTS from MONDAY’S night in basis points and it is trading WELL ABOVE resistance at 2.27-2.32%.
The 30 yr bond yield 2.85 UP 1 IN BASIS POINTS from YESTERDAY night.
USA dollar index early TUESDAY morning: 97.35 DOWN 5 CENT(S) from MONDAY’s close.
This ends early morning numbers TUESDAY MORNING
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And now your closing TUESDAY NUMBERS \12: 00 PM
Portuguese 10 year bond yield: 1.14% DOWN 2 in basis point(s) yield from MONDAY/
JAPANESE BOND YIELD: -.05% DOWN 0 BASIS POINTS from MONDAY/JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 0.97% DOWN 2 IN basis point yield from MONDAY
ITALIAN 10 YR BOND YIELD: 2.72 UP 2 POINTS in basis point yield from MONDAY/
the Italian 10 yr bond yield is trading 175 points HIGHER than Spain.
GERMAN 10 YR BOND YIELD: FALLS –.07% IN BASIS POINTS ON THE DAY//
THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 2.79% AND NOW ABOVE THE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…
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 1.1204 DOWN .0027 or 27 basis points
USA/Japan: 109.71 UP .551 OR YEN DOWN 55 basis points/
Great Britain/USA 1.2909 DOWN .0054 POUND DOWN 54 BASIS POINTS)
Canadian dollar UP 7 basis points to 1.3471
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The USA/Yuan,CNY: AT 6.8752 0N SHORE (DOWN)..GETTING DANGEROUS
THE USA/YUAN OFFSHORE: 6.9035 (YUAN DOWN)..GETTING REALLY DANGEROUS
TURKISH LIRA: 6.0157 EXTREMELY DANGEROUS LEVEL/DEATH WISH.
the 10 yr Japanese bond yield closed at -.05%
Your closing 10 yr US bond yield UP 3 IN basis points from MONDAY at 2.42 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.86 UP 2 in basis points on the day
Your closing USA dollar index, 97.53 UP 21 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: 12:00 PM
London: CLOSED UP 67.47 0.94%
German Dax : CLOSED UP 96.72 POINTS OR 0.81%
Paris Cac CLOSED UP 73.33 POINTS OR 1.39%
Spain IBEX CLOSED UP 6,.10 POINTS or 0.76%
Italian MIB: CLOSED UP 255.10 POINTS OR 1.24%
WTI Oil price; 61.89 12:00 PM EST
Brent Oil: 71.31 12:00 EST
USA /RUSSIAN / ROUBLE CROSS: 65.00 THE CROSS LOWER BY 0.42 ROUBLES/DOLLAR (ROUBLE HIGHER BY 42 BASIS PTS)
TODAY THE GERMAN YIELD FALLS TO –.07 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 : 61.70
BRENT : 71,15
USA 10 YR BOND YIELD: … 2.41… VERY DEADLY// invalids the dow/nasdaq rise
USA 30 YR BOND YIELD: 2.85..VERY DEADLY/invalidates the dow/nasdaq rise
EURO/USA 1.1208 ( DOWN 24 BASIS POINTS)
USA/JAPANESE YEN:109.58 UP .425 (YEN DOWN 43 BASIS POINTS/..
USA DOLLAR INDEX: 97.52 UP 20 cent(s)/
The British pound at 4 pm: Great Britain Pound/USA:1.2909 DOWN 54 POINTS
the Turkish lira close: 6.0337
the Russian rouble 64,97 UP 0.45 Roubles against the uSA dollar.( UP 45 BASIS POINTS)
Canadian dollar: 1.3462 UP 17 BASIS pts
USA/CHINESE YUAN (CNY) : 6.8752 (ONSHORE)/we need to watch these levels/anything greater than 6.95 will be deadly.
USA/CHINESE YUAN(CNH): 6.90337 (OFFSHORE) we need to watch these levels/anything greater than 6.95 will be deadly.
German 10 yr bond yield at 5 pm: ,-0.07%
The Dow closed UP 207.06 POINTS OR 2.28%
NASDAQ closed UP 87.47 POINTS OR 1.14%
VOLATILITY INDEX: 18.27 CLOSED DOWN 2.28
LIBOR 3 MONTH DURATION: 2.518%//
FROM 2.527
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
Dead. Cat. Bounce?
Stocks are up so everything must be awesome again, right?
Despite an early session bid, China stocks ended lower once again..
Despite an early session bid, China stocks ended lower once again…
European markets were much more excited with Italy soaring along with France on the day erasing Monday’s losses…
China has caught back down to US and Europe’s YTD performance…
US Equity markets rallied back above the “constructive” rally point from Friday today as a lack of negative things from China and US as well no inflationary fears from import/export data sent markets higher…
Trannies were the best performers in cash markets with Dow and S&P laggards…
Another dead cat bounce?
“Most Shorted” stocks surged today, recovering around half of yesterday’s losses…
All the major US indices moved back above key technical support once again.
FANG Stocks rebounded extremely modestly on the day…
Bonds and stocks have traded almost perfectly in sync through this recent chaos…
Treasury yields inched higher on the day…
The dollar extended its gains from yesterday…
Offshore Yuan went nowhere today, well below the Yuan Fix…
Ripple soared today as most of the major cryptos held on to gains…
Bitcoin flash-crashed around the Asia open overnight, but scrambled back above $8000
Oil prices rebounded today as mideast tension rose (ahead of tonight’s inventory data), Copper and silver were flat and gold was weaker…
Gold slipped back below $1300…
Finally, it appears the liquidity party may be over for now…
Market trading: Today //Early morning
Futures, Yuan Jump After Trump Trade Comments
It seems the algos will never learn.
US equity futures and offshore yuan are both rising after President Trump said at an event at The White House that “he feels China talks will be successful,” adding that “we will know in 3-4 weeks.”
Johnny 5 loves that news…
Up 120 so far…
And Yuan’s move was higher beta…
ii)Market data/
this is not what the Fed wants to see: USA import, export prices disappoint as China’s deflationary impulse hits a 12 year low
In a nutshell, China is sending deflation throughout the globe due to its excess capacity
(courtesy zerohedge)
SWAMP STORIES
Barr selects apolitical Attorney John Durham, a non nonsense fellow to head the investigation into FBI/DOJ spying. He has also investigated the FBI before
(courtesy zero hedge)
Barr Appoints US Attorney To Investigate FBI/DOJ Spying On Trump; Has Investigated FBI Before
Attorney General William Barr has appointed US Attorney John H. Durham of Connecticut to examine the origins of the Trump-Russia investigation to determine if the FBI’s spying on the Trump campaign was “lawful and appropriate,” according to Fox News.
The move comes as the Trump administration has demanded answers over the use of “informants” on his 2016 campaign.
According to Fox, Barr is “serious” and has assembled a team from the DOJ to participate in the probe, adding that Durham is known as a “hard-charging, bulldog” prosecutor according to their source.
Sources familiar with matter say the focus of the probe includes the pre-transition period — prior to Nov. 7, 2016 – – including the use and initiation of informants, as well as potential Foreign Intelligence Surveillance Act (FISA) abuses.
An informant working for U.S. intelligence posed as a Cambridge University research assistant in September 2016 to try extracting any possible ties between the Trump campaign and Russia from George Papadopoulos, then a Trump foreign policy adviser, it emerged earlier this month. Papadopoulos told Fox News the informant tried to “seduce” him as part of the “bizarre” episode.
Durham previously has investigated law enforcement corruption, the destruction of CIA videotapes and the Boston FBI office’s relationship with mobsters. He is set to continue to serve as the chief federal prosecutor in Connecticut. –Fox News
Of note – in January House Republicans Jim Jordan and Mark Meadows wrote to Durham, saying that they had “discovered” he was “investigating former FBI General Counsel James Baker” over unauthorized leaks to the media.
Durham has a history of serving as a special prosecutor, investigating wrongdoing among national security officials – including the FBI’s ties to a Boston crime boss, as well as accusations of CIA detainee abuse.
Developing…
SWAMP STORIES/KEY STORIES/KING REPORT
(COURTESY OF CHRIS POWELL OF GATA)
Blatant and massive stock market manipulation for political expediency appeared on Friday.
Because Trump instituted higher tariffs on China in the wee hours of Friday, China rigged its stock market for political and psychological reasons. The CSI jumped 3.63%. The Chinese manipulation induced traders to buy ESMs. This generated early rally attempts in Europe and the USA.
China mouthpiece @HuXijin_GT: China stock market closed Fri… with SSE index rising 3.1%. Today’s trading spans over time when US’ new tariffs took effect. This shows China’s market has largely withstood the initial wave of psychological impact of Trump’s tariff stick. It’s US market’s turn next.
@realDonaldTrump [6:43 ET]: Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S… Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do. Our Farmers will do better, faster, and starving nations can now be helped. Waivers on some products will be granted, or go to new source!
Trump Baffles with ‘No Rush’ China Trade Tweet, Delete, Retweet
- U.S. has begun to add 25% tariffs on $250 billion in goods
- ‘Just sit back and watch!’ Trump says in Twitter string
If China manipulated its stock market on Friday for political and psychological benefits, why wouldn’t the USA do the same thing? Chinese mouthpiece Hu Xijin [above tweet] challenged the US to match China’s stock market manipulation on Friday; the USA met the challenge.
The stock market has devolved into a parlor game of manipulation and schemes.
For a few decades, the adage ‘bad economic news is good news for stocks’ because the Fed will have to ease has been supplanted by ‘bad US-China trade news is good news for stocks’ because the governments will manipulate their stock markets higher for political advantage.
The inability to engineer a morning reversal after a serious decline is a negative for equities. Evidence indicates that there was an increase in organic selling on Friday morning.
@HFTAlert [12:07 ET] Program activity for today thus far… 36 in total, 19 sells including the CAPPER marked on the list… 17 buys. $SPY $QQQ $DOW note how many portfolio programs there are…. this means portfolios [Real sellers] NOT some evil algo designed to spoof your brain… [Chart at:] https://twitter.com/HFTAlert/status/1126881359962578945
@HuXijin_GT [11:12 ET]: Based on what I know, Chinese side insists on a few core points: US side should remove all additional tariffs, amount of purchase the US requests should be in line with reality; the text of the agreement must respect sovereignty and dignity. I think the insistence is reasonable.
OAN’s @GretaLWall: The 11th round of US-China trade talks wrap up in Washington. The US trade team reportedly gave China 3-4 weeks to reach a deal or the Trump Administration will impose tariffs on the remaining $325B of Chinese products currently not tariffed.
On Friday morning, amid the stock rout, Boston Fed President Bostic said increased tariffs on Chinese imports are a short-term factor. However, if the tariffs become prolonged and GDP and consumers suffer, the Fed could cut interest rates. It’s insight like this that allows daffy academics to sit in the big chairs.
@AtlantaFed: May 10: Our sticky-price CPI rose 2.7% in April. Check out the updated data on the #AtlantaFed website: http://bit.ly/2EGrItP
The BLS: Real average hourly earnings for all employees decreased 0.1 percent from March to April, seasonally adjusted… https://www.bls.gov/news.release/pdf/realer.pdf
Friday was a very bad day for President Obama and Bob Mueller.
Banker behind Biggest Malaysian Corruption Scandal Indicted For Donation to Obama Campaign
Alleged mastermind of the $4.5 billion 1MDB fraud for funneling money stolen from the doomed sovereign wealth fund to benefit President Obama’s reelection campaign… https://www.zerohedge.com/news/2019-05-10/ex-fugees-star-be-charged-funneling-1mdb-money-obama-reelection-campaign
According to the indictment, between June 2012 and November 2012, Low directed the transfer of approximately $21,600,000 from foreign entities and accounts to Michel for the purpose of funneling significant sums of money into the United States presidential election… [Mueller was FBI Dir.]
NYT: President Obama asked Congress on Thursday to allow Robert S. Mueller III to remain the director of the F.B.I. for two more years, a surprise move… [May 11, 2011]
https://www.nytimes.com/2011/05/13/us/politics/13mueller.html
@TomFitton: A federal court granted @JudicialWatch discovery on Clinton emails because the court wanted answers about the cover-up. And now we have answers because it looks like the Obama White House orchestrated the Clinton email cover-up.
Judicial Watch on Friday: Records Obtained in Court-Ordered Discovery Reveal Obama White House Tracking FOIA Request for Clinton Emails
Judicial Watch announced today that it obtained 44 pages of records from the State Department through court-ordered discovery revealing that the Obama White House was tracking a December 2012 Freedom of Information Act (FOIA) request seeking records concerning then-Secretary of State Hillary Clinton’s use of an unsecure, non-government email system… [What did Mueller know?]
Aides to Hillary Clinton were on high alert in January 2011. Justin Cooper, the man who oversaw the secretary of state’s home-based email servers, sent a warning to Huma Abedin. “I had to shut down the server.Someone was trying to hack us and while they did not get in i didnt want to let them have the chance to. I will restart in the morning,” Cooper said in a 2:57 a.m. email… Early the next morning, Abedin wrote to State Department officials Jake Sullivan and Cheryl Mills, Clinton’s chief of staff: “Don’t email hrc [Hillary Rodham Clinton] anything sensitive. I can explain more in person.”…
Solomon: Newly declassified memos detail extent of improper Obama-era NSA spying 07/25/17
There also were several instances in which Americans’ unmasked names were improperly shared inside the intelligence community without being redacted, a violation of the so-called minimization procedures thatObama loosened in 2011… The new documents confirm the NSA has in fact issued such waivers and that it uncovered in 2012 a significant violation in which the waivers were improperly used and the infraction was slow to be reported to the court… [What did Mueller know and when did he know it?]
On Thursday’s Lou Dobbs Tonight, Joe di Genova said Horowitz is now investigating John Solomon’s report about the State Department telling the FBI that Steele and his dossier was bunk – and the DoJ IG has already found that the final three FISA renewals were obtained illegally. Ergo, the FBI hid the incriminating State Department memo and supporting documents from Horowitz. FBI Chief Wray has some serious explaining to do. Comey et al are in very, very big legal trouble.
@chadPergram: Nadler says Mueller won’t appear next week… contempt for Barr won’t be next week
GOP Rep. Cline (on House Intel Com) to Fox’s Melissa Francis on Mueller not testifying: “It sounds to me like those who were involved in the Steele dossier and the FISA warrants are running scared…”
In Thursday night CNN interview, Comey asserted that it is “reasonable… totally normal step” for the FBI to plant undercover sources (AKA spies) in a political campaign. No, Jim it is probably a felony. Comey also asserted that he could NOT remember if he authorized the spying on Papadopoulos.
Rep. @DevinNunes on Comey’s CNN interview: “I don’t think he’s telling the truth…The former FBI Director is not a stupid man, and he’s acting awfully stupid…I think Mr. Comey is in a lot of trouble and he should be. He made a mess of the FBI.”
It appears that dossier author Steele has now dragged people from Congress into his steaming mess.
Steele Said Congressional Sources ‘Confirmed’ Dubious Claim about Carter Page
Steele’s claim, which is found in notes that State Department official Kathleen Kavalec took on Oct. 11, 2016, is the first evidence that the former MI6 officer might have had interactions with someone on Capitol Hill regarding his investigation of the Trump campaign…
https://dailycaller.com/2019/05/10/christopher-steele-congress-carter-page/
Former Obama WH Comms Director: “I Hope” House Democrats Break the Rules in Order to Take down President Trump https://www.thegatewaypundit.com/2019/05/former-obama-wh-comms-director-i-hope-house-democrats-break-the-rules-in-order-to-take-down-president-trump-video/
Ex-SDNY prosecutor Andy McCarthy: Russiagate: Law in the Service of Partisan Politics
This is an exquisitely planned political campaign.
Russiagate has always been a political narrative masquerading as a federal investigation. Its objective, plain and simple, has been twofold: first, to hamstring Donald Trump’s capacity to press the agenda on which he ran… and ultimately, to render him unelectable come autumn 2020…
Politicize the intelligence and law-enforcement apparatus. Signal to the public through intelligence leaks… Convince Trump that using the presidency’s arsenal to fight back would just bolster the obstruction case against him. Sic a special counsel on him if he lashed out anyway. Use the investigation as a rationale for slow-walking Trump nominees and for refusing to deal with him on such critical issues as border enforcement. Drive his numbers down…
https://www.nationalreview.com/2019/05/trump-russia-investigation-partisan-politics/
@CNNPolitics: Democratic Sen. Richard Blumenthal says if Donald Trump Jr. fails to comply to a subpoena from the GOP-led Senate Intelligence Committee he should be “put in jail”: “He has no privilege, prison is the only answer” https://cnn.it/2Vo9I4S [Arresting DJT Jr would kill Dems in 2020]
Mitch McConnell’s Deep Financial Ties to China ‘Unprecedented’ in U.S. History
Sec. Elaine Chao’s father and Sen. McConnell’s father-in-law James S.C. Chao signed contracts with a subsidiary of the state-owned China State Shipbuilding Corporation for… bulk cargo ships…
[Mitch mad at DJT over China? A reason for Trump Jr’s subpoena?]
McConnell’s re-election campaign is selling ‘Cocaine Mitch’ shirts [Campaign jujitsu]
Blow was once found aboard a freighter owned by his shipping magnate father-in-law…
https://nypost.com/2019/05/09/mcconnells-re-election-campaign-is-selling-cocaine-mitch-shirts/
Schiff: Biden Ukraine Scandal Should Be Off Limits [You can’t make this hypocrisy up!]
House Intelligence Committee Chairman Adam Schiff (D-CA) said on Sunday that Joe Biden’s Ukraine corruption scandal should be off limits as the 2020 US election approaches, and that President Trump shouldn’t be allowed to investigate – or encourage Ukraine to investigate…
‘I said, ‘You’re not getting the billion.’ I’m going to be leaving here in, I think it was about six hours. I looked at them and said: ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money,’” bragged Biden, recalling the conversation with Poroshenko. “Well, son of a bitch, he got fired,” Biden gloated… https://www.zerohedge.com/news/2019-05-12/schiff-says-biden-ukraine-scandal-should-be-limits
OAN’s @JackPosobiec: Both Adam Schiff and Joe Biden take money from Ukrainian oligarchs so we shouldn’t be surprised they are in panic mode over this
@nytimes: Harvard said that a professor, Ronald Sullivan Jr., who is representing Harvey Weinstein would not continue as faculty dean of an undergraduate house. He and his wife, Stephanie Robinson, were the first African-American faculty deans in Harvard’s history. [Students are upset/triggered/bratty that he is representing Harvey Weinstein.]
https://www.nytimes.com/2019/05/11/us/ronald-sullivan-harvard.html?smtyp=cur&smid=tw-nytimes
-END-
Barr Assigns U.S. Attorney in Connecticut to Review Origins of Russia Inquiry [Act II commences]
John H. Durham, the United States attorney in Connecticut, has a history of serving as a special prosecutor investigating potential wrongdoing among national security officials, including the F.B.I.’sties to a crime boss in Boston [Mueller fiasco] and accusations of C.I.A. abuses of detainees…
[Durham is currently investigating ex-FBI General Counsel James Baker for leaks.]
https://www.nytimes.com/2019/05/13/us/politics/russia-investigation-justice-department-review.html
@WSJ: Former Deputy Attorney General Rod Rosenstein kicked off post-government life by slamming former FBI Director James Comey, calling him a “partisan pundit” whose firing was justified
[Rod also said he would not let anyone interfere in Mueller’s investigation. Comey PO-ed Rod.]
With Fox News’ lurch to the left, OAN is now Trump and conservative’s favorite news outlet.
@realDonaldTrump: Congratulations to @OANN on the great job you are doing and the big ratings jump
@realDonaldTrump: “The FBI has no leadership. The Director is protecting the same gang…..that tried to…. overthrow the President through an illegal coup.” (Recommended [Wray] by previous DOJ[Rosenstein]) — @TomFitton @JudicialWatch
Women behind almost half [45%] of individual Trump contributions in first three months of year
William Barr vs. Eric Holder: A Tale of Two Attorneys General
https://www.nationalreview.com/2019/05/william-barr-vs-eric-holder-a-tale-of-two-attorneys-general/
@JohnWHuber [not US Atty Huber]: State Department Kavalec notes imply that Steele used Former Russian Deputy Prime Minister Vladislav Surkov as a “source” for the dossier If that’s true Steele and the FBI have a problem because… Surkov is on the sanctions list. Oh and Surkov once wrote a novel under a fake name about a protagonist in public relations who bribes journalists. I’m sure that’s not relevant to the dossier…
@ProfMJCleveland Replying to @JohnWHuber: And Mueller has a problem too because that’d be apretty big red flag that Russia was feeding Steele misinformation to interfere in the election, yet Mueller didn’t investigate it.
@JohnWHuber: FYI Kavalec worked in the US Embassy in Moscow (1992-1994) during the same timeframe Steele was posted to Moscow as MI6 undercover (1990-1993). Also strong links to Ukraine
@ProfMJCleveland: In the heat of compiling the dossier, Christopher Steele “vacationed” in Cyprus, from July 9 – 16, which he told to Ohr. Steele would later claim a Cyprus resident planted virus in Democrat’s system via porn hubs to hack the info. Could all be coincidental, or not.
Attachments area
Hi Harvey,
Your section about gold contracts said that J. P. Morgan today received 42/43 contracts. But the data you posted (pasted below) seem to indicate 28/43. If I’m not misreading, could you post a clarification tomorrow. Thanks.
EXCHANGE: COMEX
CONTRACT: MAY 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,300.100000000 USD
INTENT DATE: 05/13/2019 DELIVERY DATE: 05/15/2019
FIRM ORG FIRM NAME ISSUED STOPPED
_____________________________________
657 C MORGAN STANLEY 3
661 C JP MORGAN 42 28
737 C ADVANTAGE 1 12
___________________________________________
TOTAL: 43 43
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