GOLD: $1347.00 UP $7.60 (COMEX TO COMEX CLOSING)
Silver: $15.01 UP 18 CENTS (COMEX TO COMEX CLOSING)//
Closing access prices:
Gold : $1346.85
TOMORROW IS THE BIG FOMC MEETING. DRAGHI PREEMPTED POWELL TODAY BY UNLEASHING POSSIBLE QE IN EUROPE
HERE ARE THE KEY PRICES OF GOLD AND SILVER TO WATCH FOR:
GOLD: $1350. THIS LEVEL IS IMPORTANT FOR THE BANKERS AND NO DOUBT HUGE DERIVATIVE TRADES WERE INITIATED HERE. THE BANKERS WILL DEFEND THEIR LIVES AT THIS LEVEL. GOLD HAS BEEN BEATEN BACK AT LEAST 6 TIMES ONCE GOLD PIERCED $1350.
SILVER: $15.06. MANY ARE COMMENTING ON $15.00 BUT THE REAL PRICE TO WATCH IS $15.06 AS THIS WAS THE PRICE THAT SILVER WAS BEATEN BACK DOWN INTO THE LOW 14 DOLLAR LEVEL. A PIERCING OF 15.06 WILL CREATE NIGHTMARE FOR OUR BANKERS.
STAY TUNED FOR TOMORROW..IT WILL BE A BIG DAY.
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING 237/301
CONTRACT: JUNE 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,338.700000000 USD
INTENT DATE: 06/17/2019 DELIVERY DATE: 06/19/2019
FIRM ORG FIRM NAME ISSUED STOPPED
657 C MORGAN STANLEY 2
661 C JP MORGAN 259 237
686 C INTL FCSTONE 9
690 C ABN AMRO 1
737 C ADVANTAGE 18 61
800 C MAREX SPEC 1
905 C ADM 14
TOTAL: 301 301
MONTH TO DATE: 2,114
NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT: 301 NOTICE(S) FOR 30100 OZ (0.9362 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 2114 NOTICES FOR 211,400 OZ (6.5754 TONNES)
3 NOTICE(S) FILED TODAY FOR 15,000 OZ/
total number of notices filed so far this month: 343 for 1765,000 oz
Bitcoin: OPENING MORNING TRADE : $ 9163 DOWN 143
Bitcoin: FINAL EVENING TRADE: $ 9101 DOWN 207
Let us have a look at the data for today
IN SILVER THE COMEX OI ROSE A TINY SIZED 84 CONTRACTS FROM 232,913 UP TO 232,997 ACCOMPANYING THE 1 CENT GAIN IN SILVER PRICING AT THE COMEX.( LIQUIDATION OF THE SPREADERS HAVE STOPPED FOR GOLD . HOWEVER WE ARE WITNESSING A RISE IN SPREADING ACCUMULATION BY THE BANKERS IN SILVER)..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 SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:,
0 FOR JUNE, 406 FOR JULY. 0 FOR AUGUST, 0 FOR SEPT, AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 406 CONTRACTS. WITH THE TRANSFER OF 406 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 406 EFP CONTRACTS TRANSLATES INTO 2.03 MILLION OZ ACCOMPANYING:
1.THE 1 CENT GAIN 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.
18.845 MILLION OZ STANDING FOR SILVER IN MAY.
1.560 MILLION OZ STANDING FOR SILVER IN JUNE//
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JUNE:
32,529 CONTRACTS (FOR 12TRADING DAYS TOTAL 32,529 CONTRACTS) OR 162.65MILLION OZ: (AVERAGE PER DAY: 2710 CONTRACTS OR 13.56 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JUNE: 162.65 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 23.23% 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: 1033.40 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.
MAY 2019: TOTAL EFP ISSUANCE: 136.55 MILLION OZ
RESULT: WE HAD A TINY SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 84, WITH THE 1 CENT GAIN IN SILVER PRICING AT THE COMEX /YESTERDAY... THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 406 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 WILL RESUME THEIR LIQUIDATION OF THE SPREAD TRADES FOR SILVER ONCE THE JUNE CONTRACT COMMENCES IN EARNEST….
TODAY WE GAINED A FAIR SIZED: 490 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 406 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH INCREASE OF 84 OI COMEX CONTRACTS. AND ALL OF THIS HUGE DEMAND HAPPENED WITH A 1 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $14.83 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. 1.082 BILLION OZ TO BE EXACT or 152% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED AT THE COMEX: 3 NOTICE(S) FOR 15,000 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/ A MAY: 18.845 MILLION OZ ..JUNE 1.560 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)
WITH RESPECT TO SPREADING: WE NO DOUBT HAD SOME ACTIVITY OF SPREADING ACCUMULATION IN SILVER TODAY AS TOTAL OI ROSE SHARPLY WITH THE SMALLISH GAIN OF 1 CENT.
FOR NEWCOMERS, HERE IS THE MODUS OPERANDI OF THE CORRUPT BANKERS WITH RESPECT TO THEIR SPREAD/TRADING.
AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:
“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCHED TO SILVER AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER 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 JUNE 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 (JULY), 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.”
IN GOLD, THE OPEN INTEREST ROSE BY A SMALL SIZED 963 CONTRACTS, TO 523,341 DESPITE THE $1.65 PRICING LOSS WITH RESPECT TO COMEX GOLD PRICING YESTERDAY// /THE SPREADING LIQUIDATION HAS STOPPED AND THESE SPREADERS HAVE ALREADY MORPHED INTO SILVER AND THEY ARE INTO THE ACCUMULATION PHASE OF THEIR OPERATION. THUS THE GAIN IN OI IS REAL AS INVESTORS ARE POURING INTO THE GOLD SECTOR
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5891 CONTRACTS:
APRIL 0 CONTRACTS,JUNE: 0 CONTRACTS, AUGUST 2019: 5891 CONTRACTS, DEC> 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 523,341. 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 STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6854 CONTRACTS: 963 CONTRACTS INCREASED AT THE COMEX AND 5891 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN OF 6854 CONTRACTS OR 685,400 OZ OR 21.31 TONNES. YESTERDAY WE HAD A TINY LOSS OF $1.65 IN GOLD TRADING.…AND WITH THAT SMALL LOSS IN PRICE, WE HAD A STRONG GAIN IN GOLD TONNAGE OF 21.31 TONNES!!!!!! THE BANKERS WERE SUPPLYING COPIOUS SUPPLIES OF SHORT GOLD COMEX PAPER.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 115,174 CONTRACTS OR 11,517,400 oz OR 358.24 TONNES (12 TRADING DAYS AND THUS AVERAGING: 9597 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 12 TRADING DAYS IN TONNES: 358.24 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 358.24/3550 x 100% TONNES =10.09% OF GLOBAL ANNUAL PRODUCTION
ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE: 2,636.13 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
MAY 2019 TOTAL ISSUANCE: 449.10 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: A SMALL SIZED INCREASE IN OI AT THE COMEX OF 963 DESPITE THE PRICING LOSS THAT GOLD UNDERTOOK ON YESTERDAY($1.65)) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 5891 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 5891 EFP CONTRACTS ISSUED, WE HAD AN STRONG SIZED GAIN OF 6854 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
5891 CONTRACTS MOVE TO LONDON AND 963 CONTRACTS INCREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 21.31 TONNES). ..AND THIS INCREASE OF DEMAND OCCURRED DESPITE A LOSS IN PRICE OF $1.65 WITH RESPECT TO YESTERDAY’S TRADING AT THE COMEX. WE HAD ZERO PRESENCE OF SPREADING ACCUMULATION IN GOLD ///TODAY/
we had: 301 notice(s) filed upon for 30,100 oz of gold at the comex.
With respect to our two criminal funds, the GLD and the SLV:
WITH GOLD UP $7.60 TODAY//
NO CHANGES IN GOLD INVENTORY AT THE GLD:
INVENTORY RESTS AT 764.10 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
WITH SILVER UP 18 CENTS TODAY:
NO CHANGES WITH RESPECT TO SILVER INVENTORY AT THE SILVER SLV:
/INVENTORY RESTS AT 319.070 MILLION OZ.
OUTLINE OF TOPICS TONIGHT
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in SILVER ROSE BY A TINY SIZED 84 CONTRACTS from 232,913 UP TO 233,207 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 COMMENCED THEIR ACCUMULATION OF OPEN INTEREST CONTRACTS IN SILVER AND STOPPED THE LIQUIDATION OF THE SPREADERS IN GOLD
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
FOR JUNE 0 CONTRACTS AND JULY: 406 CONTRACTS FOR AUGUST: 0, FOR SEPT. 0 AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 406 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 84 CONTRACTS TO THE 406 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A FAIR GAIN OF 490 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 2.45MILLION 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 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 18.765 MILLION OZ FOR MAY AND NOW 2.770 MILLION OZ FOR JUNE.
RESULT: A TINY SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 1 CENT GAIN IN PRICING THAT SILVER UNDERTOOK IN PRICING// YESTERDAY. WE ALSO HAD A STRONG SIZED 406 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
2 ) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
I)TUESDAY MORNING/ MONDAY NIGHT:
SHANGHAI CLOSED UP 2.54 POINTS OR 0.09% //Hang Sang CLOSED UP 271.61 POINTS OR 1.00% /The Nikkei closed DOWN 151.29 POINTS OR 0.72%//Australia’s all ordinaires CLOSED DOWN .58%
/Chinese yuan (ONSHORE) closed DOWN at 6.9267 /Oil DOWN TO 5189 dollars per barrel for WTI and 60.75 for Brent. Stocks in Europe OPENED MIXED// ONSHORE YUAN CLOSED DOWN // LAST AT 6.9267 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.9374 TRADE TALKS STALL//YUAN LEVELS GETTING DANGEROUSLY CLOSE TO 7:1//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 RAISED RATES TO 25%
3A//NORTH KOREA/ SOUTH KOREA
b) REPORT ON JAPAN
3 China/Chinese affairs
China is set to roll out its new rare earth policy as soon as next week and it will be restrictive
Beijing slams Washington’s latest feeble attempt to set up a Trump -Xi meeting\\
I would say that Boeing is in a heap of trouble. On the first day of the big PARIS Air Show: the orders: Airbus 13 billion dollars worth of planes: Boeing zero
Draghi clears the way for another round of stimulus which sends gold higher, the euro southbound. Yields all around the world collapse
iii)Fascinating, the greatest manipulator of the them all, the USA/President Trump accuses Draghi /EU of manipulating the euro.
(courtesy zero hedge)
vi)The following is a critical important commentary that you must read. Many of you know full well that Deutsche bank is in serious trouble. They are the world’s largest derivative player and we have long suspected that their derivative book is way off side. You will also recall that Deutsche bank, unilaterally went to the judge in the gold and silver manipulation case to say that their are guilty of manipulating precious metals and if the court would go easy on them, they will provide copious emails and chat room discussions indicating that DB plus a plethora of other banks were guilty of collusion and manipulation..and they certainly provided the information to the court exactly like they said they would.
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
The Jerusalem post reveals that the uSA is planning a tactical assault on Iran.
6. GLOBAL ISSUES
Unbelievable in a huge deflationary move, global yields are crashing all over the globe\
7. OIL ISSUES
8 EMERGING MARKET ISSUES
9. PHYSICAL MARKETS
i)We have pointed out this story to you yesterday: China has cut its ownership of US Treasuries and they are now at a 2 yr low
ii)Huge Swiss refiner Metalor will stop processing artisanal gold to reduce the risk of illegality
( Reuters /GATA)
iii)Bill Murphy comments how strange it is that our monetary metals is trading from violent to comatose
10. USA stories which will influence the price of gold/silver)
i)MARKET TRADING USA//
a)Market trading/LAST NIGHT/
Even though rates are plunging everywhere, housing starts slid in May
iii)USA ECONOMIC/GENERAL STORIES
a)The market will not like this: Trump is considering demoting Fed Chair Powell
b)An excellent commentary from Michael Snyder as he reviews all of those bad economic numbers coming out during this month
( Michael Snyder)
i)Very sad!! after saying a year ago that his border town in Texas was not a war zone, the Mayor of a border town in the De; Rio district now is freaking out at the Republican for their inaction as illegals are overwhelming his city.
ii)New Clinton email review reveals multiple security incidents
Let us head over to the comex:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A SMALL SIZED 963 CONTRACTS TO A LEVEL OF 523,341 DESPITE THE FALL OF $1.65 IN GOLD PRICING WITH RESPECT TO YESTERDAY’S // COMEX TRADING)
WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF JUNE.. THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 5891 EFP CONTRACTS WERE ISSUED:
0 FOR JUNE ’19: 0 CONTRACTS , AUG; 5891 CONTRACTS: DEC: 0 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5891 CONTRACTS.
THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST 48 HRS AFTER OUR LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON BASED FORWARD.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 6854 TOTAL CONTRACTS IN THAT 5891 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A SMALL SIZED 963 COMEX CONTRACTS. THE BANKERS SUPPLIED THE NECESSARY SHORT PAPER IN GOLD TO CONTAIN THE PRICE RISE.
NET GAIN ON THE TWO EXCHANGES :: 6854 CONTRACTS OR 685400 OZ OR 21.31 TONNES.
We are now in the active contract month of JUNE and here the open interest stands at 469 CONTRACTS as we LOST 121 contracts. We had 119 notices filed yesterday so we lost 2 contracts or200 oz of gold that will not stand for delivery at the comex as it looks like supplies ran out. These players thus morphed into London based forwards and they will try their look on that side of the pond. They received a fiat bonsu for their efforts.
The next contract month is the non active month of July and here the OI FELL by 48 contracts DOWN to 1338 contracts. The next big active month for deliverable gold is August and here the OI ROSE by 133 contracts UP to 389,483.
TODAY’S NOTICES FILED:
WE HAD 301 NOTICES FILED TODAY AT THE COMEX FOR 30100 OZ. (0.9362 TONNES)
And now for the wild silver comex results.
Total COMEX silver OI ROSE BY A SMALL SIZED 84 CONTRACTS FROM 232,913 UP TO 232,997 (AND CLOSER TO THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018. THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S TINY OI COMEX LOSS OCCURRED WITH A ONE CENT GAIN IN PRICING.//YESTERDAY.
WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF JUNE. HERE WE HAVE 204 OPEN INTEREST CONTRACTS STAND FOR DELIVERY THUS LOSING 37 CONTRACTS. WE HAD 40 NOTICES FILED ON YESTERDAY SO WE GAINED 3 CONTRACTS OR AN ADDITIONAL 15,000 OZ OF SILVER WILL STAND AT THE COMEX…. AND THESE GUYS REFUSED TO MORPH INTO A LONDON BASED FORWARD AS WELL AS NEGATING A FIAT BONUS FOR THEIR EXHAUSTIVE EFFORT IN TRYING TO OBTAIN METAL..
THE NEXT MONTH AFTER JUNE IS THE ACTIVE MONTH OF JULY. HERE THE OI FELL BY 3168 CONTRACTS DOWN TO 121,837. WE LOST 2 CONTRACTS OF OI FOR AUGUST TO STAND AT 822. THE NEXT BIG ACTIVE DELIVERY MONTH AFTER AUGUST IS SEPT AND HERE THE OI ROSE BY 3211 CONTRACTS UP TO 64,908 CONTRACTS.
TODAY’S NUMBER OF NOTICES FILED:
We, today, had 3 notice(s) filed for 15,000 OZ for the JUNE, 2019 COMEX contract for silver
Trading Volumes on the COMEX TODAY: 367,341 CONTRACTS
CONFIRMED COMEX VOL. FOR YESTERDAY: 247,424 contracts
INITIAL standings for JUNE/GOLD
|Withdrawals from Dealers Inventory in oz||nil oz|
|Withdrawals from Customer Inventory in oz||
|Deposits to the Dealer Inventory in oz||nil|
|Deposits to the Customer Inventory, in oz||22,505.00 oz
|No of oz served (contracts) today||
|No of oz to be served (notices)||
|Total monthly oz gold served (contracts) so far this month||
|Total accumulative withdrawals of gold from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||xxx oz|
we had 0 dealer entry:
We had 1 kilobar entries
total dealer deposits: nil oz
total dealer withdrawals: nil oz
we had 1 deposit into the customer account
i) Into JPMorgan: nil oz
ii) Into Bank of Nova Scotia: 22,505.00 oz
this is a phony entry..they need paper gold elsewhere.
total gold deposits: 22,505.00 oz
very little gold arrives from outside/ paper gold arrived today
we had 0 gold withdrawal from the customer account:
i) We had 0 withdrawal:
total gold withdrawals; nil oz
FOR THE JUNE 2019 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 301 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 237 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 0 notices by the squid (Goldman Sachs)
To calculate the INITIAL total number of gold ounces standing for the JUNE /2019. contract month, we take the total number of notices filed so far for the month (2114) x 100 oz , to which we add the difference between the open interest for the front month of JUNE. (469 contract) minus the number of notices served upon today (301 x 100 oz per contract) equals 228,400 OZ OR 7.104 TONNES) the number of ounces standing in this active month of JUNE
Thus the INITIAL standings for gold for the JUNE/2019 contract month:
No of notices served (2114 x 100 oz) + (469)OI for the front month minus the number of notices served upon today (301 x 100 oz )which equals 228,400 oz standing OR 7.104 TONNES in this active delivery month of JUNE.
We GAINED 2 contracts or an additional 200 oz will stand as these guys REFUSED TO morph into London based forwards as well as NEGATING a fiat bonus.
SURPRISINGLY LITTLE TO NO GOLD HAS BEEN ENTERING THE COMEX VAULTS AND WE HAVE WITNESSED THIS FOR THE PAST YEAR!! WE HAVE ONLY 10.08 TONNES OF REGISTERED ( GOLD OFFERED FOR SALE) VS 7.104 TONNES OF GOLD STANDING// THEY SEEM TO BE USING CONSIDERABLE GOLD VAPOUR TO SETTLE UPON UNSUSPECTING LONGS.
OF OPEN INTERESTS FOR THE UPCOMING JUNE 2019 CONTRACT VS JUNE 2018
FOR THE INITIAL JUNE 2018 CONTRACT WE HAD A HUGE 32.152 TONNES STAND. (VS 7.104 TONNES TODAY/JUNE 2019)
HOWEVER BY MONTH’S END ONLY 21.56 TONNES EVENTUALLY STOOD AS THE REST MORPHED INTO LONDON BASED FORWARDS. AS YOU CAN SEE, THE CROOKS ARE FOLLOWING THE SAME FORMAT OF MORPHING VS LAST YEAR AS ONLY GOLD VAPOUR SEEMS TO BE PHYSICALLY PRESENT AT THE COMEX AND LONGS MUST TRY THEIR LUCK IN LONDON.
IN THE LAST 32 MONTHS 117 NET TONNES HAS LEFT THE COMEX.
And now for silver
AND NOW THE DELIVERY MONTH OF June
|Withdrawals from Dealers Inventory||NIL oz|
|Withdrawals from Customer Inventory||
|Deposits to the Dealer Inventory||
|Deposits to the Customer Inventory||
|No of oz served today (contracts)||
|No of oz to be served (notices)||
|Total monthly oz silver served (contracts)||353 contracts
|Total accumulative withdrawal of silver from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of silver from the Customer inventory this month|
we had 0 inventory movement at the dealer side of things
total dealer deposits: NIL oz
total dealer withdrawals: nil oz
we had 1 deposits into the customer account
into JPMorgan: 597,102.000 oz ???
ii)into everybody else: 0
*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.
JPMorgan now has 152.3 million oz of total silver inventory or 50.18% of all official comex silver. (152.3 million/303.5 million)
total customer deposits today: 597,102.000 oz
i) out of int. Delaware: 26,445.915.
ii) Out of CNT: 29,896.910
iii) Out of Scotia: 98,732.990 oz
we had 0 adjustments :
total dealer silver: 87.119 million
total dealer + customer silver: 303.593 million oz
The total number of notices filed today for the JUNE 2019. contract month is represented by 40 contract(s) FOR 40,000 oz
To calculate the number of silver ounces that will stand for delivery in JUNE, we take the total number of notices filed for the month so far at 353 x 5,000 oz = 1,765,000 oz to which we add the difference between the open interest for the front month of JUNE. (204) and the number of notices served upon today (3 x 5000 oz) equals the number of ounces standing.
Thus the INITIAL standings for silver for the JUNE/2019 contract month: 353(notices served so far)x 5000 oz + OI for front month of JUNE( 204) -number of notices served upon today (3)x 5000 oz equals 2,770,000 oz of silver standing for the JN contract month.
WE GAINED 3 CONTRACTS OR AN ADDITIONAL 15,000 OZ WILL STAND AT THE COMEX AS THESE GUYS REFUSED TO MORPH INTO A LONDON BASED FORWARDS AND AS WELL THEY ALSO NEGATED A FIAT BONUS. IT SEEMS THAT SOMEBODY WAS BADLY IN NEED OF PHYSICAL SILVER ON THIS SIDE OF THE POND.
TODAY’S NUMBER OF NOTICES FILED:
We, today, had 3 notice(s) filed for 15,000 OZfor the JUNE, 2019 COMEX contract for silver
TODAY’S ESTIMATED SILVER VOLUME: 127,025 CONTRACTS (we had considerable spreading activity..accumulation
CONFIRMED VOLUME FOR YESTERDAY: 75,888 CONTRACTS..(we no doubt had considerable spreading activity as they are now starting to accumulate in silver)
YESTERDAY’S CONFIRMED VOLUME OF 75888 CONTRACTS EQUATES to 379 million OZ 54.2% OF ANNUAL GLOBAL PRODUCTION OF SILVER
COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44
NPV for Sprott
1. Sprott silver fund (PSLV): NAV RISES TO -1.52% June 18/2019)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -2.04% to NAV (june 18/2019 )
Note: Sprott silver trust back into NEGATIVE territory at -1.52%-/Sprott physical gold trust is back into NEGATIVE/
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 13.20 TRADING 12.63/DISCOUNT 4.93
And now the Gold inventory at the GLD
JUNE 18/WITH GOLD UP $7.60: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 764.10 TONNES
JUNE 17/WITH GOLD DOWN $1.65 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 764.10 TONNES
JUNE 14/ WITH GOLD UP $1.05 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.40 TONNES OF PAPER GOLD INTO THE GLD///INVENTORY RESTS AT 764.10 TONNES
june 13/WITH GOLD UP $6.60 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.52 TONNES INTO THE GLD INVENTORY/INVENTORY RESTS AT 759.70 TONNES
JUNE 12/WITH GOLD UP $7.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 756.18 TONNES
JUNE 11/WITH GOLD UP $1.65 CENTS TODAY: A TINY CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .24 TONNES AND THIS IS TO PAY FOR FEES/INVENTORY RESTS AT 756.18 TONNES
JUNE 10/WITH GOLD DOWN $16.40 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.17 TONNES/INVENTORY RESTS AT 756.42 TONNES
june 7/WITH GOLD UP $3.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 757.59 TONNES
jUNE 6/WITH GOLD UP $8.40 TODAY/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 757.59 TONNES
JUNE 5 WITH GOLD UP $6.00 TODAY/STRANGE: A WITHDRAWAL OF 2.06 TONNES FROM THE GLD/INVENTORY RESTS AT 757.59 TONNES
JUNE 4/WITH GOLD UP 0.85 TODAY: A MONSTROUS PAPER GAIN OF 16.44 TONNES/GLD INVENTORY RESTS AT 759.65 TONNES
JUNE 3/WITH GOLD UP $17.50 TODAY: ANOTHER BIG CHANGE, A DEPOSIT OF 2.35 TONNES OF GOLD INTO THE GLD//
MAY 31/WITH GOLD UP $17.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/GLD INVENTORY RESTS AT 740.86 TONNES
MAY 30: WI6H GOLD UP $6.40 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.52 TONNES/INVENTORY RESTS AT 740.86 TONNES
MAY 29/WITH GOLD UP $3.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 737.34 TONNES
MAY 28/WITH GOLD DOWN $6.50 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD> A WITHDRAWAL OF 1.47 TONNES/INVENTORY RESTS AT 737.34 TONNES
MAY 24/WITH GOLD DOWN $1.60 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 738.81 TONNES
MAY 23/WITH GOLD UP $11.10 TODAY: A STRANGE WITHDRAWAL OF .88 TONNES FORM THE GLD/INVENTORY RESTS AT 738,81 TONNES
MAY 22//WITH GOLD FLAT TODAY: WE HAD A GOOD 1.52 TONNES OF GOLD DEPOSIT INTO THE GLD/INVENTORY RESTS TONIGHT AT 739.69 TONNES
MAY 21/WITH GOLD DOWN $3.65 TODAY: A SURPRISE 2.00 TONNES WERE ADDED TO THE GLD GOLD INVENTORY//INVENTORY RESTS AT 738.17 TONNES
MAY 20/WITH GOLD UP $1.00 A HUGE 2.96 TONNE DEPOSIT INTO THE GLD//INVENTORY RESTS AT 736.17 TONNES
MAY 17/WITH GOLD DOWN $9.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 733.23 TONNES
MAY 16/WITH GOLD DOWN $11.50: A WITHDRAWAL OF 3.23 TONNES FROM THE GLD//INVENTORY RESTS AT 733.23 TONNES
MAY 15/WITH GOLD UP $1.50 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 736.46 TONNES
MAY 14//WITH GOLD DOWN $5.45 TODAY: STRANGE!! THE CROOKS DECIDED TO DEPOSIT A HUGE 3.23 TONNES INTO THE GLD INVENTORY//INVENTORY RESTS AT 736.46 TONNES
MAY 13/ WITH GOLD UP ANOTHER $15.40 TODAY: STRANGE! A MASSIVE WITHDRAWAL OF 6.41 TONNES OF GOLD (TO TAME GOLD’S RISE TODAY)/INVENTORY RESTS AT 733.23 TONNES
MAY 10 WITH GOLD UP $2.15 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 739.64 TONNES
MAY 9//WITH GOLD UP $4.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 739.64 TONNES
MAY 8/WITH GOLD DOWN $3.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 739.64 TONNES
MAY 7/ WITH GOLD UP $1.80: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 739.64 TONNES
MAY 6/WITH GOLD UP $2.35: ANOTHER WITHDRAWAL OF 5.88 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 739.64 TONNES
MAY 3/WITH GOLD UP $9.35 TODAY: A WITHDRAWAL OF 1.17 TONNES OF GOLD FROM THE GLD INVENTORY/INVENTORY RESTS AT 745.52
MAY 2/WITH GOLD DOWN $12.30 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 746.69 TONNES
MAY 1/WITH GOLD DOWN $1.20 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 746.69 TONNES
JUNE 18/2019/ Inventory rests tonight at 764.10 tonnes
*IN LAST 612 TRADING DAYS: 169.66 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 512 TRADING DAYS: A NET 4.03TONNES HAVE NOW BEEN REMOVED FROM THE GLD INVENTORY.
Now the SLV Inventory/
JUNE 18/WITH SILVER UP 18 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 319.070 MILLION OZ/
JUNE 17/WITH SILVER UP ONE CENTS TODAY: A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.295 MILLION OZ///INVENTORY RESTS AT 319.070 MILLION OZ//
JUNE 14/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.775 MILLION OZ/
JUNE 13/WITH SILVER UP 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.775 MILLION OZ/
JUNE 12/WITH SILVER UP 4 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.413 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 316.775 MILLION OZ/
JUNE 11/WITH SILVER UP 10 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 315.652 MILLION OZ//
JUNE 10/WITH SILVER DOWN 38 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.652 MILLION OZ//
june 7/WITH SILVER UP ANOTHER 12 CENTS, NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.652 MILLION OZ//
jUNE 6/WITH SILVER UP ANOTHER 9 CENTS TODAY: A FAIR SIZE DEPOSIT OF 630,087 OZ//INVENTORY RESTS AT 315.652 MILLION OZ//
JUNE 5/WITH SILVER UP 4 CENTS TODAY: A HUGE PAPER DEPOSIT OF 2.396 MILLION OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 314.434 MILLION OZ//
JUNE 4/WITH SILVER UP 1 CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 312.038 MILLION OZ//
JUNE 3/WITH SILVER UP 19 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 312.038 MILLION OZ//
MAY 31/WITH SILVER UP 6 CENTS TODAY: A DEPOSIT OF 422,000 OZ INTO THE SLV INVENTORY//INVENTORY RESTS AT 312.038 MILLION OZ/
May 30/WITH SILVER UP 19 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ///
MAY 29/WITH SILVER UP 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ//
MAY 28/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ//
MAY 24/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ/
MAY 23/WITH SILVER UP 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ//
MAY 22/WITH SILVER UP 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS TONIGHT AT 311.616 MILLION OZ
MAY 21: WITH SILVER DOWN 3 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 750,000 OZ///INVENTORY RESTS AT 311.616 MILLION OZ//
MAY 20/WITH SILVER UP 6 CENTS:NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 312.366 MILLION OZ
MAY 17/WITH SILVER DOWN 13 CENTS TODAY: A BIG CHANGES IN SLV: A WITHDRAWAL OF 3.185 MILLION OZ FROM THE SLV INVENTORY VAULTS:/INVENTORY RESTS AT 312.366 MILLION OZ//
MAY 16/WITH SILVER DOWN 26 CENTS: NO CHANGES IN THE SLV INVENTORY//INVENTORY RESTS AT 315.551 MILLION OZ//
MAY 15/WITH SILVER UP 2 CENTS TODAY: A BIG CHANGE IN SLV INVENTORY: A WITHDRAWAL OF 1.031 MILLION OZ// THE SLV/INVENTORY RESTS AT 315.551 MILLION OZ.
MAY 14/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV. INVENTORY RESTS AT 316.582 MILLION OZ/
MAY 13//WITH SILVE5 DOWN 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ…
MAY 10/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 316.582 MILLION OZ///
MAY 9/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 316.582 MILLION OZ//
MAY 8/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ///
MAY 7/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ//
MAY 6/WITH SILVER DOWN 3 CENTS WE HAD ANOTHER DEPOSIT OF 891,000 OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ/
MAY 3//WITH SILVER UP 34 CENTS TODAY: A DEPOSIT OF 843,000 OZ INTO THE SLV/TOTAL INVENTORY RESTS AT 315.691 MILLION OZ//
MAY 2/WITH SILVER DOWN ANOTHER 13 CENTS, MIRACUOUSLY THE AUTHORITIES ADD 2.869 MILLION OZ OF SILVER BACK INTO THE SLV/INVENTORY RESTS AT 314.848 MILLION OZ//
MAY 1/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.979 MILLION OZ////
Inventory 319.070 MILLION OZ
LIBOR SCHEDULE AND GOFO RATES:
THE RISE IN LIBOR IS CREATING A SCARCITY OF DOLLARS BECAUSE FOREIGN EXCHANGE SWAPS (COSTS) ARE SIMPLY PROHIBITIVE
6 Month MM GOFO 2.02/ and libor 6 month duration 2.31
Indicative gold forward offer rate for a 6 month duration/calculation:
G0LD LENDING RATE: + .29
12 Month MM GOFO
LIBOR FOR 12 MONTH DURATION: 2.29
GOFO = LIBOR – GOLD LENDING RATE
GOLD LENDING RATE = +.21
PHYSICAL GOLD/SILVER STORIES
Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings TUESDAY morning 7:00 AM….
Euro/USA 1.1191 DOWN .0033 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 108.24 DOWN 0.306 (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 1.2516 DOWN 0.0026 (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT EXTENDED TO OCT 31/2019//
USA/CAN 1.3418 UP .0008 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)
Early THIS TUESDAY morning in Europe, the Euro FELL BY 33 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1191 Last night Shanghai COMPOSITE CLOSED UP 5.65 POINTS OR 0.20%
//Hang Sang CLOSED UP 2.54 POINTS OR 0.09%
/AUSTRALIA CLOSED UP 0,58%// EUROPEAN BOURSES GREEN
Trading from Europe and Asia
EUROPEAN BOURSES ALL GREEN
2/ CHINESE BOURSES / :Hang Sang CLOSED UP 271,61 POINTS OR 1.00%
/SHANGHAI CLOSED UP 2.54 POINTS OR 0.09%
Australia BOURSE CLOSED UP. 58%
Nikkei (Japan) CLOSED DOWN 151.79 POINTS OR 0.72%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: $1349.60
Early TUESDAY morning USA 10 year bond yield: 2.02% !!! DOWN 9 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 2.52 DOWN 9 IN BASIS POINTS from MONDAY night.
USA dollar index early TUESDAY morning: 97.69 UP 13 CENT(S) from MONDAY’s close.
This ends early morning numbers TUESDAY MORNING
And now your closing TUESDAY NUMBERS \12: 00 PM
Portuguese 10 year bond yield: 0.53% DOWN 9 in basis point(s) yield from YESTERDAY/
JAPANESE BOND YIELD: -.12% UP 1 BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56
SPANISH 10 YR BOND YIELD: 0.39%//DOWN 20 in basis point yield from yesterday.
ITALIAN 10 YR BOND YIELD: 2.12 DOWN 23 points in basis points yield from yesterday./
the Italian 10 yr bond yield is trading 183 points higher than Spain.
GERMAN 10 YR BOND YIELD: FALLS –.32% IN BASIS POINTS ON THE DAY//
THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 2.44% 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…
IMPORTANT CURRENCY CLOSES FOR TUESDAY
Closing currency crosses for MONDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1196 DOWN .0028 or 28 basis points
USA/Japan: 108.43 DOWN .118 OR YEN UP 12 basis points/
Great Britain/USA 1.2541 DOWN .0001 POUND DOWN 1 BASIS POINTS)
Canadian dollar UP 16 basis points to 1.3395
The USA/Yuan,CNY: AT 6.9032 0N SHORE (UP)..GETTING DANGEROUS
THE USA/YUAN OFFSHORE: 6.9013 (YUAN UP)..GETTING REALLY DANGEROUS
TURKISH LIRA: 5.8427 EXTREMELY DANGEROUS LEVEL/DEATH WISH.
the 10 yr Japanese bond yield closed at -.12%
Your closing 10 yr US bond yield DOWN 4 IN basis points from MONDAY at 2.05 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.55 DOWN 4 in basis points on the day
Your closing USA dollar index, 97.64 UP 8 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 85.73 1.17%
German Dax : CLOSED UP 245.93 POINTS OR 2.03%
Paris Cac CLOSED UP 118,78 POINTS 2.20%
Spain IBEX CLOSED UP 109.60 POINTS or 1.19%
Italian MIB: CLOSED UP 507.36 POINTS OR 2.46%
WTI Oil price; 53.81 12:00 PM EST
Brent Oil: 62.16 12:00 EST
USA /RUSSIAN / ROUBLE RISES: 63.95 THE CROSS LOWER BY 0.36 ROUBLES/DOLLAR (ROUBLE HIGHER BY 36 BASIS PTS)
TODAY THE GERMAN YIELD FALLS TO –.32 FOR THE 10 YR BOND 1.00 PM EST EST
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 : 54.09//
BRENT : 62.30
USA 10 YR BOND YIELD: … 2.05… VERY DEADLY//
USA 30 YR BOND YIELD: 2.55..VERY DEADLY/
EURO/USA 1.1197 ( DOWN 27 BASIS POINTS)
USA/JAPANESE YEN:108,42 DOWN .131 (YEN UP 13 BASIS POINTS/..
USA DOLLAR INDEX: 97.63 UP 7 cent(s)/
The British pound at 4 pm Britain Pound/USA:1.2563 UP 23 POINTS
the Turkish lira close: 5.8347
the Russian rouble 64.07 UP 0.27 Roubles against the uSA dollar.( UP 27 BASIS POINTS)
Canadian dollar: 1.3383 UP 27 BASIS pts
USA/CHINESE YUAN (CNY) : 6.9032 (ONSHORE)/we need to watch these levels/anything greater than 6.95 will be deadly./
USA/CHINESE YUAN(CNH): 6.9013 (OFFSHORE) we need to watch these levels/anything greater than 6.95 will be deadly/
German 10 yr bond yield at 5 pm: ,-0.32%
The Dow closed UP 353.01 POINTS OR 1.35%
NASDAQ closed UP 131,95 POINTS OR 1.03%
VOLATILITY INDEX: 15.17 CLOSED DOWN .18
LIBOR 3 MONTH DURATION: 2.418%//libor dropping like a stone
And now your more important USA stories which will influence the price of gold/silver
TRADING IN GRAPH FORM FOR THE DAY//
Stocks Near Record Highs As Xi Hope & Powell Hype Trump Global Economic Collapse
We hate to be the bearer of bad news, as stocks near record highs, bond yields hit record lows, and global macro collapses to cycle lows…BUT…
Chinese stocks missed out on today’s fun (watch them catch up tonight) as they closed before Draghi rescued assets around the world and cornered Powell…
European stocks accelerated higher today after Draghi promised moarrrrr….
Sending Bund yields to new record lows…
And pushing yields on various European sovereign notes below 0 for the first time in history.
US equities surged in the pre-open on the Draghi and Trump-Xi comments…
But drifted lower after the European close with some weakness in the last 30 mins… Nasdaq was the best performer but the S&P 500 lagged…
Nevertheless, the S&P 500 is just 1.25% from its record highs, The Dow around 2% below its and Nasdaq around 3% below (with Small Caps and Trannies still down around 11% from their 52-week highs). China’s Shanghai Composite is down around 12% from its 52-week highs.
BYND opened above $200, then plunged back into the red…
Notably, BofA’s survey suggests market participants say that drop in the S&P to 2430 would prompt an immediate rate cut by The Fed and to 2350 would prompt Trump to do a trade deal no matter what…
Treasury yields plunged on Draghi’s comments and Trump’s follow up, but as the day went on, rates recovered some of the drop (though the long-end notably outperformed)…
Dramatically flattening the yield curve…
Bond yields were extremely volatile…
2Y roundtripped the entire plunge…
and 10Y traded like a penny stock after trading as low as 2.01%!!!
Breakevens continue to collapse…
European inflation forwards soared today – biggest spike since Feb 2012…
Short-dated Bills are extremely volatile – something or someone is in pain
Ahead of tomorrow’s Fed statement, expectations for Fed rate cuts continue to be extremely dovish…
As the global negative debt pile is within inches of a record high…
The Dollar spiked as Draghi’s comments drove the euro lower but by the close the dollar ended dovishly lower as Trump-Xi headlines hit…
EUR tumbled on the Draghi headlines…back below 1.1200…
Yuan spiked on the Trump-Xi call, hitting one-month highs against the dollar…
Cryptos slipped lower today, presumably as Facebook’s Libra dominated headlines…Ripple was worst on the day
But Bitcoin held above $9000…
Commodities were all higher on the day, led by oil’s gains…
Gold was slammed back below $1350 early on as the dollar spiked but rallied back into the green after Europe closed…
WTI soared today on the heels of China trade hopes…ripping off the $52 level once again.
Finally, we note that global macro data is double-dipping to cycle lows – and the longest period of negative surprises in history…
Who’s right? Global Bonds, Global Stocks, or Global Macro?
So, maybe The Fed should cut rates, right? Trouble is, the market already did, sending financial conditions to near record ‘easy’ levels…
Does The Fed really want to be easing with financial conditions already so easy? If you ask stocks, yep!!
i) Market trading/
Dow Soars After Trump Says He Will Have “Extended Meeting” With Xi Next Week
The bears are suffering a trifecta of terror today.
First, Draghi threw in the towel said he would be cutting rates soon.
Second, Powell is expected to unleash the dovish floodgates tomorrow.
And finally, moments ago, Trump restored hope that a trade deal may be forthcoming at next week’s G-20 when he tweeted that contrary to conventional expectations, he will be having an “extended meeting” with Xi next week..
The news sent USDJPY surging…
… the Dow soaring more than 300 points…
… and the S&P approaching all time highs.
So what does this mean for the Fed: with a glimmer of hope now appearing that trade war may be ending, and with the S&P at all time highs, just how does Powell announce a rate cut tomorrow? We’ll find out in just over 24 hours.
Even though rates are plunging everywhere, housing starts slid in May
Housing Starts Slide In May, Despite Plunging Rates
Despite the hype of soaring mortgage applications (refis, not purchases) and homebuilder stocks, housing starts tumbled 0.9% MoM in May (drastically missing expectations for a 0.3% rise), and while permits rose a better than expected 0.3% MoM, it remains very flat for the last six months.
Multi-family permits fell in May (to 820k) as single-family rose modestly (to 449k)…
The better than expected print for overall starts (at 1.294mm), was thanks to a massive spike in rental units…
- Housing Starts 1-Unit: -6.4%, from 876K, to 820K
- Housing Starts Multi Unit: +13.8%, from 383K to 436K
Not exactly a picture of health for the future of millennial homeownership as rental nation remains front and center, despite plunging mortgage rates.
iii)USA ECONOMIC/GENERAL STORIES
The market will not like this: Trump is considering demoting Fed Chair Powell
White House Reportedly Explored Legality Of Demoting Fed Chair Powell, Kudlow Denies (Kinda)
Update: Minutes after the Bloomberg reports, White House chief economic advisors Larry Kudlow denied any considerations to demoting Fed Chair Powell, “we are not taking any action to change Powell’s status.”
But then, apparently by mistake, confirmed the discussions had taken place by admitting that the “Powell demotion story was a six-month-old story.”
* * *
Since President Trump first discussed firing Jerome Powell, out of a sense of frustration that his Fed Chair pick was not dovish enough, he has regularly expressed his displeasure at central bankers lack of willingness to do whatever it takes to keep him in office (with today’s Draghi debacle top of mind) and the weekend’s interview comments:
“[Powell]’s my pick — and I disagree with him entirely,” Trump said last week in an interview with ABC News.
“Frankly, if we had a different person in the Federal Reserve that wouldn’t have raised interest rates so much we would have been at least a point and a half higher.”
But, things reportedly got a lot more serious than some spurious tweets and off the cuff remarks, as Bloomberg reports, according to people familiar with the matter, the White House explored the legality of demoting Powell in February, soon after Trump talked about firing him.
Bloomberg then reports that Trump’s team conducted the legal analysis and came to a conclusion that has remained closely held within the White House, the people said, requesting anonymity to discuss internal deliberations. It isn’t clear whether Trump directed the legal review, and the people didn’t describe the outcome.
Fed spokeswoman Michelle Smith said in an email: “Under the law, a Federal Reserve Board chair can only be removed for cause.”
An excellent commentary from Michael Snyder as he reviews all of those bad economic numbers coming out during this month
(courtesy Michael Snyder)
Evidence The US Economy Could Be Plunging Into A Very Deep Recession Is Rapidly Mounting
Not since 2008 have we seen so much bad economic data come rolling in all at the same time.
Even without a war with Iran, which by the way is looking increasingly likely with each passing day, it definitely appears that the U.S. economy is steamrolling toward recession territory. The employment numbers for last month were abysmal, global trade has collapsed to the lowest level that we have seen since the last recession, and manufacturing numbers just keep getting worse and worse. In fact, the New York Fed’s Empire State manufacturing index just suffered the worst one month decline in history…
The New York Fed’s Empire State business conditions index took a sharp turn for the worse in June, falling into negative territory for the first time in more than two years. (HARVEY: REPORTED TO YOU YESTERDAY)
The Empire State manufacturing index plummeted 26.4 points to negative 8.6 in June, the New York Fed said Monday. That’s a record decline. Economists had expected a reading of positive 10, according to a survey by Econoday.
Not even during the last recession did we witness a plunge of that magnitude.
And other measures of U.S. manufacturing activity are also “sinking steadily”…
And it’s not the only indicator showing a turn for the worse: Others, including the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey, have also been sinking steadily.
When you step back and look at the big picture, it becomes quite clear what is happening.
At this point, it is simply not possible for anyone to credibly claim that the U.S. economy is still in good shape. All of the numbers are pointing in the same direction, and Morgan Stanley’s chief US equity strategist Michael Wilson made this point exceedingly well on Monday…
Decelerations and disappointments are mounting:
- Cass Freight Index
- Retailer earnings
- Durable goods orders
- Capital spending
- May payrolls
- Semiconductor inventories
- Oil demand
- Restaurant performance indices…
and our own Morgan Stanley Business Conditions Index (MSBCI). Looking at the MSBCI in particular, the headline metric showed the biggest one-month drop in its history going back to 2002 and very close to its lowest absolute reading since December 2008.
This index has a tight relationship with ISM new orders and analyst earnings revisions breadth. Our analysis shows downside risk to ISM new orders (25% y/y), S&P earnings revisions breadth (6-13%) and the S&P 500 y/y (8%) if historical links hold.
For much more on the collapse of the MSBCI, please see my previous article entitled “Morgan Stanley’s Business Conditions Index Just Suffered The Biggest One Month Decline In History”.
Many analysts are pointing out that our economic problems really seemed to start accelerating once trade negotiations with China completely broke down, and this is true.
If the U.S. and China could find a way to reach a trade agreement, that would be a tremendous short-term boost to the economy at a time when we desperately need it.
But that isn’t going to happen unless President Trump completely caves in. Because at this point the Chinese are extremely angry, and they are definitely in no mood to compromise. In fact, one Chinese editorial that was recently published boldly declared that they are ready “to fight it out till the end”…
“China will not be afraid of any threats or pressure the United States is making that may escalate economic and trade frictions. China has no choice, nor escape route, and will just have to fight it out till the end,” the Qiushi commentary said. “No one, no force should underestimate and belittle the steel will of the Chinese people and its strength and tenacity to fight a war.”
When Americans are deeply suffering during the next recession, will they be willing to “fight it out till the end” like the Chinese are?
And if a trade war with China wasn’t enough, now we also have a trade war with India to deal with. In fact, India just hit U.S. exports with a wave of very large tariffs…
India just increased tariffs on US exports, dealing another blow to fragile global trade.
The tariffs on several US products will go into effect on June 16, India’s Finance Ministry said in a statement Saturday. The goods targeted include American apples — which will be hit with a 70% tariff — as well as almonds, lentils and several chemical products.
Of course these tariffs were in retaliation for the tariffs that we hit India with after Trump kicked them out of a preferential trade program…
The two countries exchange goods and services worth about $142 billion a year, but the relationship has soured in recent weeks after the Trump administration ended India’s participation in a preferential trade program earlier this month. The program exempted Indian goods worth more than $6 billion from US import duties in 2018.
We were certainly heading for a recession even without these trade conflicts, but without a doubt they have made things substantially worse.
And now is definitely not a good time for a recession, because much of the country is completely and utterly unprepared for any sort of an economic downturn. The following comes from an opinion piece authored by William Spriggs…
One oft-cited statistic points to just how unstable the finances of most Americans are: nearly 40 percent of households could not withstand an unexpected expenditure of $400 — the cost of just one medical bill or car repair.
The most unnerving point to keep in mind is that we are even less prepared for a sudden slowing of the economy than we were before the Great Recession of 2008.
During the relatively stable economic times of the past few years, Americans should have been preparing instead of partying.
But instead, most Americans bought into the myth that our massively bloated debt-fueled standard of living could be perpetuated indefinitely.
So now a crisis is coming which many believe is going to be even worse than what we experienced in 2008, and most of us are going to be completely blindsided by it.
Very sad!! after saying a year ago that his border town in Texas was not a war zone, the Mayor of a border town in the De; Rio district now is freaking out at the Republican for their inaction as illegals are overwhelming his city.
Democrat Border Town Mayor Freaks Out Over GOP Inaction As Illegals Overwhelm City
The Democrat mayor of a Texas border town – which he said just 14 months ago wasn’t a ‘war zone’ – chewed out staffers for Republican Senator John Cornyn, who he accused of not taking steps to help control the surge of migrants that are overwhelming local resources.
Bruno Lozano – Del Rio’s youngest and first openly gay mayor, implored the Congressman’s office to see what the city is dealing with firsthand, according to the Conservative Review.
“I asked that you go see firsthand and walk through what the Border Patrol is walking through, walk through the system of release, walk through the coalition [of nonprofits and churches], walk through the judicial process, because the senators aren’t here,” said Lozano to Cornyn staffer Jonathan Huhn, while slamming absentee Senators.
“They need to see firsthand what’s going on. They need to understand the frustrations that the commissioners, or that the city council, the school board, the hospital officials are managing [and] having to deal with.”
Of note, the Texas Tribune reported in March that Border Patrol’s Del Rio sector had begun releasing migrants into the community because it “has experienced a significant rise in the number of family units arrested throughout the sector.”
Lozano went on to describe how managing immigration was ‘not their jurisdiction,’ and that city officials need to focus on their ‘streets, parks and economy.’
We do not have the funds to fund this project that has manifested and been dumped here in the city of Del Rio Texas, Val Verde County, and the entire border. And we’re frustrated. We’re extremely frustrated. Our priorities on the city council are our streets, are our parks, are the economy, are the drive of the community and the places of worship and the places to have leisure activities. It is not the priority to solve immigration. … I will not stand for having to be dumped and find a solution, as mayor … for immigration. It is not our purview; it is not our jurisdiction. It is your job to ensure that you convey the frustration that I share with you all to ensure that our representatives at the federal level are hearing it. It’s falling on deaf ears, and we are tired of it. We are sick and tired of the deaf ears. … It’s happening in real time. -Del Rio, Texas Mayor Bruno Lozano
As the Conservative Review’s Daniel Horowitz notes, Lozano’s outburst at the June 8th special meeting of local officials is quite the turnaround for the left-wing mayor and veteran – who said in April 2018 that he wanted to ‘educate northerners’ that the border is not a “war zone.”
That tells you just how rapidly things have changed, with Del Rio becoming a transit zone for migrants from all over the world coming and draining city transportation services as well as the town’s only hospital.
Watching this mayor’s reaction to the border crisis brings to mind similar reactions from officials in Broward and Palm Beach Counties in Florida last month, when they heard a rumor that 1,000 illegal aliens would be dumped into their counties. These are very Democrat jurisdictions, but even they had zero appetite for the strains of illegal immigrants. –Conservative Review
Del Rio made headlines recently after PBS reported on Sunday that Del Rio Sector Border Patrol apprehended over 500 African migrants, most of whom are from the Republic of Congo, the Democratic Republic of the Congo, Angola and Cameroon.
One recent Saturday in Tijuana, there were 90 Cameroonians lined up to get on a waiting list to request asylum that has swelled to about 7,500 names. Also on the waiting list are Ethiopians, Eritreans, Mauritanians, Sudanese and Congolese.
Cameroonians generally fly to Ecuador because no visa is required and take about four months to reach Tijuana. They walk for days in Panama through dense forest, where they are often robbed and held in government-run camps. They come from Cameroon’s English-speaking south with horrifying stories of rape, murder and torture since late 2016 by soldiers of the country’s French-speaking majority, which holds power. –PBS
Of note, approximately 10-15% of migrants have a “legitimate asylum claim” according to CBP Commissioner Kevin McAleenan.
New Clinton Email Review Reveals ‘Multiple Security Incidents’
The State Department revealed in a letter to Sen. Chuck Grassley (R-IA) that it had identified “multiple security incidents” committed by current or former employees who handled Hillary Clinton’s emails, according to Fox News.
So far 23 “violations” and seven “infractions” have been issued as a part of the department’s ongoing investigation – a number that will likely rise according to State Department Assistant Secretary in the Bureau of Legislative Affairs, Mary Elizabeth Taylor.
“To this point, the Department has assessed culpability to 15 individuals, some of whom were culpable in multiple security incidents,” said Taylor in the letter to Grassley, adding “DS has issued 23 violations and 7 infractions incidents. … This number will likely change as the review progresses.”
Wow! The State Department said it has identified 30 Security Incidents involving current or former employees and their handling of Crooked Hillary Clinton’s Emails. @FoxNews This is really big. Never admitted before. Highly Classified Material. Will the Dems investigate this?
Taylor called the matter “serious” and acknowledged that it was time consuming.
“Given the volume of emails provided to the Department from former Secretary Clinton’s private email server, the Department’s process has been necessarily more complicated and complex requiring a significant dedication of time and resources,” she wrote, saying that the department expects to conclude its investigation by September 1.
What’s the consequence for these “multiple security incidents?” An official slap on the wrist according to the report:
“In every instance in which the Department found an individual to be culpable of a valid security violation or three or more infractions, the Department forwarded the outcome to the Bureau of Diplomatic Security’s Office of Personnel Security and Suitability (DS/PSS), to be placed in the individuals’ official security file,” wrote Taylor. “All valid security incidents are reviewed by DS and taken into account every time an individual’s eligibility for access to classified information is considered.”
“This referral occurred whether or not the individual was currently employed with the Department of State and such security files are kept indefinitely, Taylor added. “Consistent with the referral policy, for individuals who were still employed with the Department at the time of adjudication, the Department referred all valid security violations or multiple infractions to the Bureau of Human Resources.”
Clinton’s private email use has remained in the spotlight, as the DOJ looks into potential misconduct in the handling of federal authorities’ surveillance and intelligence operations in 2016. Then-FBI Director James Comey said in 2016 that Clinton’s handling of classified information was “extremely careless” — remarks that were watered down from their original draft — but that “no reasonable prosecutor” would bring charges.
It emerged earlier this year that then-FBI general counsel James Baker testified that he thought Clinton should have been prosecuted until he was convinced otherwise “pretty late” in the investigation. –Fox News
As former Utah GOP Rep. and current Fox News contributor Jason Chaffetz noted, “What’s bizarre about this, is in any other situation, there’s no possible way they would allow the potential perpetrator to self-select what the FBI gets to see, adding “The FBI should be the one to sort through those emails — not the Clinton attorneys.”
E)SWAMP STORIES/MAJOR STORIES//THE KING REPORT
@NewYorkFed: The new orders index also posted a significant decline, falling twenty-two points to -12.0, indicating a decline in orders… The shipments index fell to 9.7 in June from 16.3 in May… Labor market indicators pointed to small declines in employment and hours worked. The index for number of employees fell 8 points to -3.5, its first negative value in over two years, pointing to a small decline in employment levels. The average workweek index also fell below zero, to -2.2, pointing to a slightly shorter workweek. The prices paid index was little changed at 27.8, suggesting input prices increased at about the same pace as last month. The prices received index fell 6 points to 6.8, marking a fourth consecutive decline and pointing to an ongoing deceleration in selling price increases… The index for future business conditions fell 5 points to 25.7…The capital expenditures index fell 16 points to 10.5, pointing to slower growth in capital spending plans…The technology spending index fell 10 points to 12.8. Full Empire State Manufacturing Survey:https://www.newyorkfed.org/survey/empire/empiresurvey_overview
Iran Warns Europe It Will Breach Nuclear Stockpile Cap in 10 Days
- 60-day deadline to salvage nuclear deal will not be renewed
- Announcement could further stoke tension in the Gulf
Iran warned European nations on Monday that it would breach in 10 days the landmark 2015 nuclear agreement unless they take action to alleviate the pressure of tightening U.S. sanctions in the coming weeks. The spokesman for Iran’s atomic energy agency, Behrouz Kamalvandi, said the country would exceed a cap on stockpiles of low-grade uranium on June 27 and threatened to raise enrichment purity beyond a 3.67% limit meant to prevent Iran from making weapons-grade material…
Retirees around the world might run out of money 10 years before they die
Central banks’ financial repression harms retirees more than any demographic. This is a recipe for social unrest at any time, let alone when the west is plagued with aging populations, notably US Baby Boomers.
@JackPosobiec: Pentagon considering targeted missile strike on Iran’s uranium enrichment facility in early July – @OANN
State Department identifies 23 violations, ‘multiple security incidents’ concerning Clinton emails
The State Department revealed Monday that it has identified “multiple security incidents” involving  current or former employees’ handling of Hillary Clinton’s emails, and that 23 “violations” and seven “infractions” have been issued as part of the department’s ongoing investigation… The State Department, calling the matter “serious,” said it expected to conclude the investigation by Sept. 1…
The CIA Is Running Scared – Barr’s bloodhounds are sniffing up Langley’s skirts.
In a New York Times article entitled “Justice Department Seeks to Question CIA in its Own Russia Investigation,” the IC makes clear its fear of the results of Barr’s investigation of their spy operation on candidate Trump in 2016 that continued through his early presidency… the CIA believes it should not be accountable for its misdeeds, even if laws have been broken…
The senior CIA officials Durham’s investigators will question will obviously include CIA Director Gina Haspel, who has the most to lose. She could be fired from her position, lose her reputation, and — if the evidence proves that she violated the law — sent to jail… https://spectator.org/the-cia-is-running-scared/
@GeorgePapa19: Two weeks after I exposed Italy’s role in spygate, Obama is heading to Italy today to meet with the former Italian prime minister who weaponized his intel assets against us. Keep focused, America. The real headlines are now coming out
@TomFitton: Recall John McCain staffer Henry Kerner urged Obama IRS (Lois Lerner) to “audit so many that it becomes financially ruinous.” Kerner now runs anti-@RealDonaldTrump Office of Special Counsel that abused power today to lawlessly attack @KellyannePolls.
To understand how and why Kellyanne Conway was selectively targeted by the Office of Special Counsel over so-called Hatch Act violations, one must look no further than Henry Kerner, the special counsel for the United States Office of Special Counsel. He was nominated for the position by President Trump in 2017… [DJT with another stupid hiring – he keeps enlisting people that hate him or his agenda.]
Booker Adds a Dash of Anti-Trump Anger to His Message of Love [You can’t make this up!]
‘Anger and love are not mutually exclusive,’ Booker says
The stupid, illogical, inciting and insulting comments of politicians keep making new highs. US voters and the MSM (presumed watchdogs of the Republic) share the blame.
@Uncle_Jimbo: Trump eating his steak well done w/ ketchup is more impeachment worthy than most of the garbage from the Left
Well that about does it for tonight
I will see you on Wednesday night