JULY 9/GOLD REBOUNDS FORM ANOTHER ATTACK AND ENDS IN POSITIVE TERRITORY (60 CENTS)/SILVER RISES AGAIN BY 7 CENTS

 

GOLD: $1398.70  UP  $0.60 (COMEX TO COMEX CLOSING)

Silver:  $15.12  UP 7 CENTS  (COMEX TO COMEX CLOSING)//

 

Closing access prices:

Gold : $1398.00

 

silver:  $15.11

 

 

YOUR DATA…

I WILL NOW PROVIDE TO YOU THE COMEX DATA ALONG WITH GLD AND SLV NUMBERS
HOWEVER, I HAVE BEEN OUT OF THE LOOP FOR THE PAST 16 HOURS AS I WAS RETURNING FROM MY TRIP TO ISRAEL.
TOMORROW I WILL BRING TO YOU MY NORMAL COMMENTARIES.
HERE IS YOUR FINALIZED COMEX DATA/GLD/DATA/LIBOR DATA/

 

 

COMEX DATA

 

 

JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

today RECEIVING 15/43

MENT: 1,397.000000000 USD
INTENT DATE: 07/08/2019 DELIVERY DATE: 07/10/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
624 C BOFA SECURITIES 1
657 C MORGAN STANLEY 3
661 C JP MORGAN 15
690 C ABN AMRO 32
737 C ADVANTAGE 9 24
905 C ADM 2
____________________________________________________________________________________________

TOTAL: 43 43
MONTH TO DATE: 749

 

NUMBER OF NOTICES FILED TODAY FOR  JULY CONTRACT: 43 NOTICE(S) FOR 4300 OZ (0.1334 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  749 NOTICES FOR 74900 OZ  (2.3297 TONNES)

 

 

 

SILVER

 

FOR JULY

 

 

176 NOTICE(S) FILED TODAY FOR 880,000  OZ/

 

total number of notices filed so far this month: 3601 for   18,005,000 oz

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Bitcoin: OPENING MORNING TRADE :  $ 9769 UP 252 

 

 

 

Bitcoin: FINAL EVENING TRADE: $ 9891 UP 369

 

 

 

 

end

 

 

 

 

Let us have a look at the data for today

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IN SILVER THE COMEX OI FELL A CONSIDERABLE  SIZED 2711 CONTRACTS FROM 222,149 DOWN TO 219,336 DESPITE THE 7 CENT GAIN IN SILVER PRICING AT THE COMEX.

TODAY WE ARRIVED FURTHER FROM AUGUST’S 2018  RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S.  WE WERE  NOTIFIED  THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:,

0 FOR JULY. 0 FOR AUGUST, 229 FOR SEPT, AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  229 CONTRACTS. WITH THE TRANSFER OF 229 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 229 EFP CONTRACTS TRANSLATES INTO 1.145 MILLION OZ  ACCOMPANYING:

1.THE 7 CENT GAIN IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST 12 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.

2.660 MILLION OZ STANDING FOR SILVER IN JUNE//

20.770 MILLION OZ INITIAL STANDING FOR JULY

 

WE HAD CONSIDERABLE SHORT COVERING AT THE SILVER COMEX LAST NIGHT..AND ZERO SPREADING ACCUMULATION.

 

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

8537 CONTRACTS (FOR 6 TRADING DAY TOTAL 8537 CONTRACTS) OR 42.69 MILLION OZ: (AVERAGE PER DAY: 1422 CONTRACTS OR 7.11 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY:  42.69 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 6.09% 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:          1200.29   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

JUNE 2019 , TOTAL EFP ISSUANCE:                                               265.38 MILLION OZ

RESULT: WE HAD A CONSIDERABLE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2711, DESPITE THE 7 CENT GAIN IN SILVER PRICING AT THE COMEX /YESTERDAY... THE CME NOTIFIED US THAT WE HAD A  SMALL SIZED EFP ISSUANCE OF 229 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) .

 

TODAY WE LOST A CONSIDERABLE SIZED: 2482 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: 

i.e 229 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH DECREASE OF 2711  OI COMEX CONTRACTS. AND ALL OF THIS  DEMAND HAPPENED WITH A  7 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $15.02 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. 1.187 BILLION OZ TO BE EXACT or 169% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH/ THEY FILED AT THE COMEX: 176 NOTICE(S) FOR 880,000 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:

  1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ  MAY: 36.285 MILLION OZ ; JUNE/2018  (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ   )  FOR AUGUST 6.065 MILLION OZ. , SEPT:  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 2.660 MILLION OZ//JULY 20.770 MILLION OZ
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018:  244,196 CONTRACTS,  WITH A SILVER PRICE OF $14.78.
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
  4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT)

.

WITH RESPECT TO SPREADING:  WE WILL WITNESS THE MORPHING OF OUR SPREADERS OUT OF SILVER AND INTO GOLD AS THE JULY MONTH PROCEEDS INTO THE ACTIVE DELIVERY MONTH OF AUGUST. 

 

 

 

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 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 JULY HEADING TOWARDS THE VERY ACTIVE DELIVERY MONTH OF AUGUST.

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 JULY 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 FELL BY A GOOD 1412 CONTRACTS, TO 598,043 DESPITE THE TINY $0.35 PRICING LOSS WITH RESPECT TO COMEX GOLD PRICING YESTERDAY// /THE SPREADING LIQUIDATION WILL NOW COMMENCE FOR GOLD….

 

 

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A STRONG SIZED 5397 CONTRACTS:

APRIL 0 CONTRACTS,JUNE: 0 CONTRACTS, AUGUST 2019: 3903 CONTRACTS, DEC>  0 CONTRACTS AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 598,043.  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 FAIR SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2491 CONTRACTS: 1412 CONTRACTS DECREASED AT THE COMEX  AND 3903 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 2491 CONTRACTS OR 249,100 OZ OR 7.748 TONNES.  YESTERDAY WE HAD A TINY LOSS OF $0.35 IN GOLD TRADING.AND WITH THAT TINY GAIN IN  PRICE, WE  HAD A GOOD GAIN IN GOLD TONNAGE OF 7.748  TONNES!!!!!! THE BANKERS WERE SUPPLYING INFINITE 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 JULY : 47,830 CONTRACTS OR 4,783,000 oz OR 148.77 TONNES (6 TRADING DAY AND THUS AVERAGING: 7971 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 1 TRADING DAY IN  TONNES: 148.77 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 148.77/3550 x 100% TONNES =4.19% OF GLOBAL ANNUAL PRODUCTION

 

ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE:     3065.58 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

JUNE 2019 TOTAL ISSUANCE:                   642.22 TONNES

 

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

 

 

Result: A FAIR SIZED DECREASE IN OI AT THE COMEX OF 1412 WITH THE TINY PRICING LOSS THAT GOLD UNDERTOOK ON YESTERDAY($0.35)) //.WE ALSO HAD  A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 3903 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 3903 EFP CONTRACTS ISSUED, WE  HAD A GOOD AND CRIMINALLY SIZED GAIN OF 2,491 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

3903 CONTRACTS MOVE TO LONDON AND 1412 CONTRACTS DECREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 7.748 TONNES). ..AND THIS HUGE INCREASE OF  DEMAND OCCURRED ACCOMPANYING THE TINY  LOSS IN PRICE OF $0.35 WITH RESPECT TO YESTERDAY’S TRADING AT THE COMEX. WE WILL COMMENCE WITH SPREADING ACCUMULATION IN GOLD AS  THE MONTH PROCEEDS/

 

 

 

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 UP $.70 TODAY//

 

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD:  A PAPER WITHDRAWAL OF 2.37 TONNES

 

INVENTORY RESTS AT 795.80 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 7 CENTS TODAY:

 

NO CHANGES WITH RESPECT TO SILVER INVENTORY  AT THE SILVER SLV:

 

 

 

 

 

 

/INVENTORY RESTS AT 322.394 MILLION OZ.

 

end

 

OUTLINE OF TOPICS TONIGHT

 

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

1. Today, we had the open interest in SILVER FELL BY A CONSIDERABLE SIZED 2711 CONTRACTS from 222,047 DOWN TO 219,336 AND FURTHER FROM THE NEW COMEX RECORD SET LAST IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  1 1/3 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.  AS YOU CAN SEE, WE HAVE RECORD HIGH OPEN INTERESTS IN SILVER  ACCOMPANIED BY A CONTINUAL LOWER PRICE WHEN THAT RECORD WAS SET…..THE SPREADERS HAVE COMMENCED THEIR ACCUMULATION OF OPEN INTEREST CONTRACTS IN SILVER AND STOPPED THE LIQUIDATION OF THE SPREADERS IN GOLD

 

 

 

 

EFP ISSUANCE: 

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

 

FOR JULY: 0 CONTRACTS FOR AUGUST: 0, FOR SEPT. 229  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 229 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE OI LOSS AT THE COMEX OF 2025  CONTRACTS TO THE 229 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A SMALL LOSS OF 2482 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES: 12.41 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  18.765 MILLION OZ FOR MAY  NOW 2.660 MILLION OZ FOR JUNE WITH JULY AT 20.770  MILLION OZ STANDING SO FAR.

 

 

RESULT: A CONSIDERABLE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE 7 CENT GAIN IN PRICING THAT SILVER UNDERTOOK IN PRICING// YESTERDAY. WE ALSO HAD A SMALL SIZED 229 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 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

I)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 14.86 POINTS OR 0.50%  //Hang Sang CLOSED DOWN 76.72 POINTS OR 0.27%   /The Nikkei closed DOWN 204.22 POINTS OR 0.25%//Australia’s all ordinaires CLOSED DOWN .50%

/Chinese yuan (ONSHORE) closed DOWN  at 6.8694 /Oil UP TO 57.82 dollars per barrel for WTI and 65.36 for Brent. Stocks in Europe OPENED GREEN//  ONSHORE YUAN CLOSED UP // LAST AT 6.8694 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.8759 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

 

 

4/EUROPEAN AFFAIRS

i)UK

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

 

i)IRAN/USA

6. GLOBAL ISSUES

 

7. OIL ISSUES

 

 

8 EMERGING MARKET ISSUES

 

i)VENEZUELA/

 

 

 

9. PHYSICAL MARKETS

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

 

 

 

MARKET TRADING//USA

a)Market trading/LAST NIGHT/USA

 

II)MARKET TRADING/USA

 

 

ii)Market data/USA

iii)USA ECONOMIC/GENERAL STORIES

SWAMP STORIES

 

E)SWAMP STORIES/MAJOR STORIES//THE KING REPORT
end
LET US BEGIN:

 

 

Let us head over to the comex:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 1412 CONTRACTS TO A LEVEL OF 6598.043 ACCOMPANYING THE SMALL LOSS OF $0.35 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  STRONG SIZED  TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 3903 EFP CONTRACTS WERE ISSUED:

 FOR AUGUST; 3903 CONTRACTS: DEC: 0   AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  3903 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: 2491 TOTAL CONTRACTS IN THAT 3903 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A GOOD SIZED 1412 COMEX CONTRACTS. THE BANKERS SUPPLIED THE NECESSARY AND INFINITE AMOUNT OF SHORT PAPER IN GOLD TO CONTAIN THE PRICE RISE. 

 

NET GAIN ON THE TWO EXCHANGES ::  2491 CONTRACTS OR 249,100 OZ OR 7.748 TONNES.

YESTERDAY I REPORTED TO YOU ON THIS DEVELOPMENT:

“THE IS BECOMING QUITE ALARMING:  FOR THE PAST 10 TRADING DAYS, WE HAVE WITNESSED AT LEAST A 6,000 CONTRACT DIFFERENTIAL BETWEEN THE PRELIMINARY OI NUMBER AND THE FINAL OI NUMBER OF GOLD. TODAY IT WAS IN EXCESS OF 8,000 CONTRACTS. ALL OF THE DIFFERENCE OCCURS IN THE FRONT MONTH OF AUGUST . THIS IS HIGHLY MANIPULATIVE AND FRAUDULENT.  THE CFC REFUSES TO SUPPLY ANY ANSWER TO THIS.”

THEY DID NOT DISAPPOINT US AGAIN TODAY AND THUS FOR TOE PAST 11 TRADING DAYS WE HAVE HAD A HUGE DISCREPANCY BETWEEN THE PRELIMINARY OI AND THE FINAL OI…ALTHOUGH TODAY IT WAS SLIGHTLY LESS THAN 6000 CONTRACTS. SOMETHING IS SERIOUSLY WRONG AT THE GOLD COMEX.

 

We are now in the NON  active contract month of JULY and here the open interest stands at 76 CONTRACTS as we LOST 4 contracts.  We had  6 notices filed yesterday so we surprisingly  gained  2 contracts or 200 oz of gold that will stand for delivery as there appears to be some gold at the comex  as they will now try their luck on finding the fast vanishing supplies of physical gold over here. We usually witness queue jumping in silver immediately after first day notice but not gold.  That changed today. The next big active month for deliverable gold is August and here the OI FELL by a strong 14,390 contracts DOWN to 393,474. The next delivery month is Sept and here the Oi increased by 25 contracts up to 129 contracts. After Sept, is Oct and here the OI rose by 975 contracts to 16,163.

 

 

 

TODAY’S NOTICES FILED:

WE HAD 43 NOTICES FILED TODAY AT THE COMEX FOR  4300 OZ. (0.1337 TONNES)

 

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And now for the wild silver comex results.

Total COMEX silver OI FELL BY A CONSIDERABLE SIZED 2711 CONTRACTS FROM 222,047 DOWN TO 219,336 (AND FURTHER FROM THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018.  THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S CONSIDERABLE  OI COMEX LOSS OCCURRED DESPITE A 7 CENT GAIN IN PRICING.//FRIDAY.

 

 

WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF JULY.  HERE WE HAVE 729 OPEN INTEREST STAND FOR DELIVERY WITH A LOSS OF 25 CONTRACTS.  WE HAD 30 NOTICES FILED YESTERDAY SO WE GAINED 5 CONTRACTS OR AN ADDITIONAL 25,000 OZ OF SILVER WILL ATTEMPT TO STAND AT THE COMEX…. AND THESE GUYS REFUSED TO MORPH INTO A LONDON BASED FORWARD AS WELL AS NEGATING A FIAT BONUS. LET US WAIT AND SEE IF SUCCESSFUL IN OBTAINING PHYSICAL METAL ON THIS SIDE OF THE POND. AFTER JULY WE HAVE THE NON ACTIVE MONTH OF AUGUST AND HERE WE GAINED  7 CONTRACTS UP TO 1143.  THE NEXT BIG ACTIVE DELIVERY MONTH AFTER AUGUST IS SEPT AND HERE THE OI FELL BY 3922 CONTRACTS DOWN TO 155,526 CONTRACTS.

 

 

 

 

TODAY’S NUMBER OF NOTICES FILED:

 

We, today, had 176 notice(s) filed for 880,000 OZ for the JUNE, 2019 COMEX contract for silver

 

 

Trading Volumes on the COMEX TODAY: 322,684  CONTRACTS 

 

 

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  384,720  contracts

 

 

 

 

 

INITIAL standings for  JULY/GOLD

JULY 9/2019

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

nil

 

Deposits to the Customer Inventory, in oz  

nil

 

No of oz served (contracts) today
43 notice(s)
 4300 OZ
(0.1337 TONNES)
No of oz to be served (notices)
33 contracts
(3300 oz)
0.1026 TONNES
Total monthly oz gold served (contracts) so far this month
749 notices
74900 OZ
2.3297 TONNES
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 0 deposit into the customer account

i) Into JPMorgan:  nil oz

 

ii) Into Everybody else: nil  oz

 

 

 

total gold deposits: nil  oz

 

very little gold arrives from outside/ NO amount  arrived   today

we had 1 gold withdrawal from the customer account:

i ) out of Manfra 32.15 oz (one kilobar)

 

 

total gold withdrawals; 32.15 oz

 

 

i) we had 0 adjustment today

FOR THE JULY 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 43 contract(s) of which 715 notices were stopped (received) by j.P. Morgan dealer and 10 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 0 notices by the squid  (Goldman Sachs)

 

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To calculate the INITIAL total number of gold ounces standing for the JULY /2019. contract month, we take the total number of notices filed so far for the month (749) x 100 oz , to which we add the difference between the open interest for the front month of  JULY. (76 contract) minus the number of notices served upon today (43 x 100 oz per contract) equals 78200 OZ OR 2.4324 TONNES) the number of ounces standing in this NON active month of JULY

Thus the INITIAL standings for gold for the JULY/2019 contract month:

No of notices served (749 x 100 oz)  + (76)OI for the front month minus the number of notices served upon today (43 x 100 oz )which equals 78200 oz standing OR 2.426 TONNES in this  active delivery month of JUNE.

We GAINED 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. Somebody was in need of physical gold badly on this side of the pond…VERY UNUSUAL TO SEE QUEUE JUMPING THIS EARLY IN THE UP FRONT JULY CONTRACT MONTH.

 

 

 

 

 

SURPRISINGLY LITTLE TO NO  GOLD HAS BEEN ENTERING THE COMEX VAULTS AND WE HAVE WITNESSED THIS FOR THE PAST YEAR!!  WE HAVE ONLY 10.047 TONNES OF REGISTERED (  GOLD OFFERED FOR SALE) VS 2.432  TONNES OF GOLD STANDING// THEY SEEM TO BE USING CONSIDERABLE GOLD VAPOUR TO SETTLE UPON UNSUSPECTING LONGS.

 

 

 

 

total registered or dealer gold:  323,026.893 oz or  10.047 tonnes 
total registered and eligible (customer) gold;   7,696,451.153 oz 239.42 tonnes

IN THE LAST 32 MONTHS 117 NET TONNES HAS LEFT THE COMEX.

 

THE GOLD COMEX IS NOW IN STRESS AS
1. GOLD IS LEAVING THE COMEX 
2. GOLD IS LEAVING THE REGISTERED CATEGORY OF THE COMEX.

end

And now for silver

AND NOW THE  DELIVERY MONTH OF JULY

INITIAL  standings/SILVER

IN TOTAL CONTRAST TO GOLD, HUGE ACTIVITY IN SILVER TODAY.
JULY 8 2019
Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
 29,934.718 oz
Delaware

 

 

Deposits to the Dealer Inventory
NIL oz

 

Deposits to the Customer Inventory
597.040.600 oz
CNT
No of oz served today (contracts)
176
CONTRACT(S)
(880,000 OZ)
No of oz to be served (notices)
553 contracts
 2,765,000 oz)
Total monthly oz silver served (contracts) 3601 contracts

18,005,000 oz)

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

**

 

we had 0 inventory movement at the dealer side of things

 

 

total dealer deposits: NIL  oz

total dealer withdrawals: nil oz

we had  1 deposits into the customer account

into JPMorgan:  nil  oz

ii)into CNT: 597,040.600 oz

 

 

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

JPMorgan now has 153.4 million oz of  total silver inventory or 50.36% of all official comex silver. (153.4 million/304.6 million

 

 

 

 

total customer deposits today:  597,040.600  oz

 

we had 1 withdrawals out of the customer account:

 

i) out of Delaware 29,934.718

 

 

 

 

 

 

total 29,934.718  oz

 

we had 1 adjustments :

i) Out of CNT:  486,025.260 oz was adjusted out of the customer and this landed into the dealer account of CNT

 

 

 

total dealer silver:  93.361 million

total dealer + customer silver:  307.141 million oz

 

The total number of notices filed today for the JULY 2019. contract month is represented by 176 contract(s) FOR 880,000 oz

To calculate the number of silver ounces that will stand for delivery in JULY, we take the total number of notices filed for the month so far at 3601 x 5,000 oz = 18,005,000 oz to which we add the difference between the open interest for the front month of JULY. (729) and the number of notices served upon today (176 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JULY/2019 contract month: 3601(notices served so far)x 5000 oz + OI for front month of JULY( 1729) number of notices served upon today (176)x 5000 oz equals 20,770,000 oz of silver standing for the JULY contract month.

WE GAINED 5 CONTRACTS OR AN ADDITIONAL 25,000 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 JOINING GOLD!.

 

 

 

 

 

 

 

 

TODAY’S NUMBER OF NOTICES FILED:

 

We, today, had 176 notice(s) filed for 880,000 OZ for the JUNE, 2019 COMEX contract for silver

 

 

 

 

 

 

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TODAY’S ESTIMATED SILVER VOLUME:  54,332 CONTRACTS (we had considerable spreading activity..accumulation

 

CONFIRMED VOLUME FOR YESTERDAY: 54,441 CONTRACTS.

 

 

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 54,441 CONTRACTS EQUATES to 232 million  OZ 38.8% OF ANNUAL GLOBAL PRODUCTION OF SILVER..makes sense!!

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44

 

end

 

 

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NPV for Sprott 

1. Sprott silver fund (PSLV): NAV RISES TO -0.34% June 27/2019)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -1.10% to NAV (JUNE 27/2019 )
Note: Sprott silver trust back into NEGATIVE territory at -0.34%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

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

NAV 13.77 TRADING 13.23/DISCOUNT 3.96

END

And now the Gold inventory at the GLD/

JULY 9/WITH GOLD UP 70 CENTS, A HUGE PAPER WITHDRAWAL OF 2.89 TONNES WHICH WAS USED IN THE FUTILE RAID ON GOLD AND SILVER THIS MORNING//INVENTORY RESTS AT 794.08 TONNES

JULY 8/ WITH GOLD DOWN 35 CENTS A HUGE WITHDRAWAL OF 1.47 TONNES FROM THE GLD/INVENTORY FALLS TO 796.97 TONNES

JULY 5TH/WITH GOLD DOWN $19.50/NO CHANGES IN GOLD INVENTORY AT THE GLD//INV RESTS AT 798.44 TONNES

JULY 3// WITH GOLD UP $12.60 TODAY A SURPRISE WITHDRAWAL OF 1.76 TONNES FROM THE GLD//INVENTORY RESTS AT  798.44

 

JULY 2. WITH GOLD UP $18.90 A HUGE “PAPER” DEPOSIT OF 6.16 TONNES INTO THE GLD/INVENTORY RESTS AT 800.20 TONNES

JULY 1: WITH GOLD DOWN $24.70 A HUGE “PAPER GOLD” WITHDRAWAL OF 1.76 TONNES FROM THE GLD/INVENTORY RESTS TONIGHT AT 794.04 TONNES

JUNE 28/WITH GOLD UP $.90 TODAY: ANOTHER 2.05 TONNES OF PAPER GOLD REMOVED AND THIS GOLD WAS USED IN ATTACKING GOLD AT THE COMEX/INVENTORY RESTS AT 795.80 TONNES

JUNE 27/WITH GOLD DOWN $6.10: ANOTHER HUGE WITHDRAWAL OF 1.76 PAPER TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 797.61 TONNES

JUNE 26/WITH GOLD DOWN $3.00: WE HAD A HUGE WITHDRAWAL OF 2.37 TONNES FROM THE GLD/INVENTORY RESTS AT 799.61 TONNES

JUNE 25/WITH GOLD UP $1.30 (AND WAY UP BEFORE THE BANKERS WHACKED) WE WITNESSED ANOTHER 1.95 TONNES OF PAPER GOLD ADDED TO THE GLD INVENTORY//INVENTORY RESTS AT 801.98 TONNES

JUNE 24/WITH GOLD UP $18.00 A MONSTROUS PAPER DEPOSIT OF 34.93 TONNES/INVENTORY RESTS AT 799.03 TONNES

JUNE 21/WITH GOLD UP $  2.90, NO CHANGE IN GOLD INVENTORY: INVENTORY RESTS AT: 764.10 TONNES

June 20/WITH GOLD UP $47.95, NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 764.10 TONNES

JUNE 19 WITH GOLD DOWN $1.65: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 764.10 TONES

JUNE 18/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

 

 

 

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JULY 9/2019/ Inventory rests tonight at 794.08 tonnes

*IN LAST 620 TRADING DAYS: 140.68 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 520 TRADING DAYS: A NET 25.00 TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY.

 

 

 

end

 

Now the SLV Inventory/

JULY 9/WITH SILVER UP A SMALL 7 CENTS A GIGANTIC INVENTORY GAIN OF 4.026 MILLION OZ/ INVENTORY RESTS AT 332.518 MILLION OZ AND NOW IT SHOULD BE QUITE CLEAR THAT THE SLV ( AND GLD ARE FRAUDS)

JULY 8/WITH SILVER UP 7 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 328,492 MILLION OZ

JULY 5/WITH SILVER DOWN 32 CENTS WE STRANGELY HAD A HUGE INVENTORY GAIN OF 2,234 MILLION OZ//INVENTORY RESTS AT 328.492 MILLION OZ

JULY 3 WITH SILVER UP 10 CENTS A HUGE INCREASE IN INVENTORY..INVENTORY RESTS AT 326.151 MILLION OZ

JULY 2/WITH SILVER UP 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY/INVENTORY RESTS AT 323.330 MILLION OZ//

JULY 1/ WITH SILVER DOWN 16 CENTS: A SURPRISING DEPOSIT OF 936,000 OZ INTO THE SLV/INVENTORY RESTS TONIGHT AT 323.330 MILLION OZ/

JUNE 28/WITH SILVER UP 6 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REMAINS AT 322.394 MILLION OZ//

JUNE 27/WITH SILVER DOWN 7 CENTS: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.575 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 322.394 MILLION OZ//

JUNE 26/WITH SILVER UP 17 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.819 MILLION OZ/

JUNE 25/WITH SILVER DOWN 25 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.819 MILLION OZ.

JUNE 24/WITH SILVER UP 11 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.819 MILLION OZ//

JUNE 21/WITH SILVER DOWN 22 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.819 MILLION OZ//

JUNE 20/WITH SILVER UP 53 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.819 MILLION OZ/

JUNE 19/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 319.070 MILLION OZ/

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 XXX CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.775 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

 

JULY 9/2019:

 

 

Inventory 332,518 MILLION OZ

LIBOR SCHEDULE AND GOFO RATES:

 

 

 

YOUR DATA…..

6 Month MM GOFO 2.20/ and libor 6 month duration 2.26

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

G0LD LENDING RATE: + .06

 

XXXXXXXX

12 Month MM GOFO
+ 2.12%

LIBOR FOR 12 MONTH DURATION: 2.26

 

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.14

end

 

PHYSICAL GOLD/SILVER STORIES

 

end
i) GOLDCORE BLOG/Mark O’Byrne

If Gold

ii) Physical stories courtesy of GATA/Chris Powell

iii) Other physical stories:

 

China (Officially) Buys Gold For 7th Straight Month As Treasury Holdings Tumble

China continued its renewed (public) gold-buying spree in May adding another 10 tons of the precious metal to its reserve – the seventh month of buying in a row.

“It’s a diversification away from the U.S. dollar, particularly given the trade tensions and the potential technology cold war that’s evolving,” said Bart Melek, global head of commodity strategy at TD Securities.

“We have to remember that gold is nobody’s liability.”

While this figure is hotly contested as being an underestimate of Chinese State’s actual gold holdings, its the only figure available, and whatever the real number, its notable that the Chinese government has revived the trend of announcing physical gold purchases each and every month.

“Given the U.S.-China tensions, it is little surprise that China is attempting to diversify away its holdings of the dollar and Treasuries,” Howie Lee, an economist at Oversea-Chinese Banking Corp. in Singapore, said in an email, adding that it’s likely to continue adding in the coming months as its reserve holdings still lag countries such as the U.S. and Germany.

“Aside from its attempt to diversify its holdings of dollars, owning more gold reserves is also an important strategy in China’s rise as a superpower,” Lee said.

The People’s Bank of China raised reserves to 61.94 million ounces in June from 61.61 million a month earlier, according to data on its website on Monday. In tonnage terms, last month’s inflow was 10.3 tons,following the addition of almost 74 tons in the six months through May.

In fact, thanks in larger part to the surge in gold prices in the last month, the value of China’s gold reserves rose by the most in at least 4 years…

Pointedly this occurred as the trade war erupted and China ‘allowed’ the yuan to devalue against the dollar…

As Bloomberg previously reported, the rise in reserves reflects the government’s “determined diversification” away from dollar assets, Argonaut Securities (Asia) Ltd. analyst Helen Lau said, adding that retail demand has also picked up. At this rate of accumulation, China could buy 150 tons in 2019, according to Lau.

One wonders if Alasdair Macleod is on to something when he notes that if the yuan is to replace the dollar for China’s trade, officials will have to back it with gold

It is hard to see how the US can match a sound-money plan from China. Furthermore, the US Government’s finances are already in very poor shape and a return to sound money would require a reduction in government spending that all observers can agree is politically impossible. This is not a problem the Chinese government faces, and the purpose of a gold-linked jumbo bond is not so much to raise funds; rather it is to seal a price relationship between the yuan and gold.

Whether China implements the plan suggested herein or not, one thing is for sure: the next credit crisis will happen, and it will have a major impact on all nations operating with fiat money systems. The interest rate question, because of the mountains of debt owed by governments and consumers, will have to be addressed, with nearly all Western economies irretrievably ensnared in a debt trap. The hurdles faced in moving to a sound monetary policy appear to be simply too daunting to be addressed.

Ultimately, a return to sound money is a solution that will do less damage than fiat currencies losing their purchasing power at an accelerating pace. Think Venezuela, and how sound money would solve her problems. But that path is blocked by a sink-hole that threatens to swallow up whole governments. Trying to buy time by throwing yet more money at an economy suffering a credit crisis will only destroy the currency. The tactic worked during the Lehman crisis, but it was a close-run thing. It is unlikely to work again.

Because China’s economy has had its debt expansion of the last ten years mostly aimed at production, if she fails to act soon she faces an old-fashioned slump with industries going bust and unemployment rocketing. China offers very limited welfare, and without Maoist-style suppression, faces the prospect of not only the state’s plans going awry, but discontent and rebellion developing among the masses.

For China, a gold-exchange yuan standard is now the only way out. She will also need to firmly deny what Western universities have been teaching her brightest students. But if she acts early and decisively, China will be the one left standing when the dust settles, and the rest of us in our fiat-financed welfare states will left chewing the dirt of our unsound currencies.

Is China’s “signal” an explicit warning of the end to the dollar era that has existed since August 1971, when gold as the ultimate money was driven out of the monetary system.

Now that’s a trend that is nobody’s friend.

Due to the criminal conviction of trader Edmonds, the USA prosecution is seeking to halt the civil lawsuit. I was misinformed: all discoveries in a civil suit are public and because of that, the prosecution gives the defendants the right to plead the 5th if their testimony incriminates them
(courtesy zerohedge/Chris Powell)

US seeks halt in civil lawsuit accusing JP Morgan of manipulating metals market, citing criminal case

  • The U.S. wants a federal judge to halt a civil lawsuit accusing J. P. Morgan of manipulating precious metals markets. The Justice Department cited an ongoing criminal case as its reason for the request.
  • A former J. P. Morgan trader pleaded guilty in Connecticut last month to manipulation charges.
  • In the guilty plea, the trader said he had learned to make bogus trade orders from senior traders at the bank and that he used the strategy hundreds of times with the knowledge and consent of his immediate supervisors.

A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in New York.

Amr Alfiky | Reuters
A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in New York.

The Justice Department is asking a judge to put the brakes on a civil lawsuit against J. P. Morgan Chase, citing an ongoing probe into a “related criminal case” that involves alleged manipulation of precious metals markets.

The department wants a six-month postponement in the proceedings of the civil lawsuit, which was filed in 2015 by hedge fund manager Daniel Shak and two commodity traders. The government also says it could ask for a longer delay in the case, according to a court filing on Monday.

The move comes days after Shak’s lawyer, David Kovel, sought permission to reopen questioning of two former J. P. Morgan traders and the bank’s current global head of base and precious metals trading.

Kovel, in making the request with the Manhattan federal judge in the civil case, cited last month’s guilty plea by one of those former traders, John Edmonds, in federal court in Connecticut.

Edmonds admitted making bogus bids on precious metals contracts while working at the bank from 2009 to 2015.

Neither J. P. Morgan Chase nor Kovel’s clients have opposed the Justice Department’s request.

In arguing for a delay, the Justice Department said Shak’s lawsuit is “related” to Edmonds’ criminal case and that Edmonds has “pleaded guilty and acknowledged his own participation in such conduct, as well as that of other traders.”

“Edmonds awaits sentencing, but the broader investigation is ongoing,” the Justice Department said. The U.S. wants to delay the civil case “to protect the integrity of its ongoing criminal investigation,” it said.

J. P. Morgan did not respond to a request for comment by CNBC. Kovel declined to comment.

Tuesday night, after this story first was published, Judge Paul Engelmayer ordered the federal prosecutors to explain in detail by Monday why postponing proceedings in the civil lawsuit would not harm those involved, and why reopening questioning “would be detrimental to the Government’s ongoing criminal investigation.”

Englemayer also wrote that he regards Edmonds’ guilty plea “as potentially highly consequential” to the civil case.

In his guilty plea, the 36-year-old Edmonds said he had learned to make bogus trade orders from senior traders at the bank and that he used the strategy hundreds of times with the knowledge and consent of his immediate supervisors. He admitted to working with “unnamed co-conspirators” at J. P. Morgan, according to the Justice Department.

Kovel wants to question Edmonds again as well as Michael Nowak, the bank’s global head of base and precious metal trading, and former J. P. Morgan Chase Managing Director Robert Gottlieb. The three had previously answered questions under oath in the civil case.

Kovel said in court filings that Nowak was the immediate supervisor of Edmonds, while Gottlieb was Edmonds’ mentor.

In his prior deposition, Edmonds said that Gottlieb sat only a “couple feet” away from him for about five years, and that he was “somebody [he] looked up to in the business,” who helped guide and train him.

Nowak is described by Edmonds as his direct supervisor, with whom he would sometimes discuss trading strategies. Nowak was also the person responsible for overseeing the performance and risk of Edmonds’ portfolio, according to the deposition.

Edmonds also stated in his prior deposition that he would enter precious metals trades for both Nowak and Gottlieb, among others.

The civil lawsuit claims Shak and his fellow plaintiffs lost tens of millions of dollars as a result of actions by J. P. Morgan’s traders.

A federal judge tells traders that they can combine cases (with the other 6 banks) as they accused JPMorgan of rigging the precious metals market
(courtesy CNBC)

Federal judge tells traders they can combine cases accusing JP Morgan of rigging metals market

  • Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.
  • Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action.

71671201

Spencer Platt | Getty Images

A group of traders from across the U.S. who allege that J. P. Morgan Chase manipulated precious metals markets for years are one step closer to bringing a class action suit against the nation’s largest bank.

Earlier this month, a federal judge said five separate lawsuits making similar allegations against the bank could be combined, potentially including thousands of people who traded in the precious metals market from Jan. 2009 through Dec. 2015.

Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.

J. P. Morgan declined to comment on this story.

Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action.

Vincent Briganti, a partner at the firm, filed the first suit seeking class action status in November on behalf of Dominick Cognata, a trader who alleges he suffered losses due to J.P. Morgan’s illegal trading conduct in the silver and gold futures and options markets.

That was after the federal court in Connecticut unsealed a criminal plea agreement by John Edmonds, a former J.P. Morgan metals trader. In his guilty plea, Edmonds, who is 36-years old, admitted that he and other “unnamed co-conspirators” fraudulently manipulated the precious metals markets while they were employed at J. P. Morgan from 2009 to 2015.

Edmonds said he had learned the illegal trading tactics from senior traders, and then used them hundreds of times with the knowledge of and consent of his immediate supervisors.

Briganti’s lawsuit also names John Edmonds and a group of yet-to-be-identified precious metals traders and the bank as defendants.

On Wednesday, the lawyers sent a letter to Judge Koeltl saying they were having difficulty locating Edmonds to serve him legal papers and requested a 30-day extension to do so, which the judge granted on Thursday. Briganti noted that they have been in contact with Edmonds’ attorney in the criminal case. Edmonds’ attorney and Briganti could not be reached for comment.

“We are hopeful that this extension will result in completing service on Mr. Edmonds without formal motion practice and a request for alternative means of service,” Briganti said in the letter.

The next step in the civil case is for the plaintiffs to file an amended class action complaint and set a schedule for defendants to respond.

In addition to the proposed class action, J. P. Morgan also faces a separate civil suit which also accuses the bank of rigging precious metals markets.

end

March 4.2019

Parker City News

JP Morgan faces potential class action lawsuit after guilty pleas by a former metals trader

Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years.

At least six lawsuits, all making similar allegations against the nation‘s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut with a former J. P. Morgan Chase metals trader.

The cases could potentially include thousands of people who traded in the precious metals market. The White Plains, N.Y., law firm Lowey Dannenberg is asking the court to combine the cases and name it as the lead.

The law firm‘s commodities group is led by Vincent Briganti, the attorney who filed the first lawsuit on behalf of Dominick Cognata, a New York resident who alleges he suffered losses due to J. P. Morgan‘s trading conduct in the silver and gold futures and options markets.

A combined case, seeking class action status, would include anyone who purchased or sold futures contracts or an option on NYMEX platinum or palladium or COMEX silver or gold between at least Jan. 1, 2009, and Dec. 31, 2015. The lawyers believe that “at least hundreds, if not thousands” of traders would be eligible to join the case.

Named as defendants in all of the lawsuits are John Edmonds, a 36-year old former metals trader at J. P. Morgan, a group of yet-to-be-identified precious metals traders and the bank.

Edmonds, a New York resident, pleaded guilty in October to one count of conspiracy to defraud the market and manipulate prices of precious metals futures contracts and one count of commodities fraud. In the criminal plea, Edmonds admitted that he and other “unnamed co- conspirators” at J. P. Morgan, fraudulently manipulated precious metals markets from 2009 to 2015, the same time frame covered in the class action suits.

Briganti filed the initial class action on Nov. 7, just one day after the Justice Department unsealed Edmonds‘ plea in the U.S. District Court of Connecticut.

Edmonds admitted in his guilty plea that he deployed the illegal trading scheme hundreds of times with the direct knowledge and consent of his immediate supervisors. Plaintiffs say they have suffered economic injury, including monetary losses, as a direct result of actions by Edmonds and the other unnamed J. P. Morgan metals traders in the futures and options contracts.

One of the suits alleges that “the number of unlawful trades that JP Morgan traders executed in precious metals futures markets is at least in the thousands.”

J. P. Morgan declined to comment. Lowey Dannenberg did not respond to a request for comment by CNBC.

The Justice Department‘s criminal investigation is still ongoing and recently caused a separate related civil case to be put on hold for at least six months while the government continues its investigation. That civil lawsuit, which also accuses J. P. Morgan of rigging the precious metals market, was filed in 2015 by hedge fund manager Daniel Shak and two commodity traders.

After reviewing the details of the plea agreement, David Kovel, the attorney for Shak‘s suit, sought to re- interview Edmonds, along with two other current and former senior traders at the bank. However, the government argued that reopening questioning would be detrimental to the ongoing criminal investigation. The federal judge overseeing the proceedings ordered a six-month stay in the civil case.

Kovel declined to comment.

Edmonds was originally scheduled to be sentenced in Hartford, Conn., on Wednesday, Dec. 19, but a court filing on Nov. 27 shows the sentencing has been postponed until June. A spokesman for the U.S. Attorney for Connecticut could not elaborate on why the sentencing was postponed since the court filing is under seal.

-END-

Justice Department stalls another class action in gold market rigging, this one against JPM

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

Proceedings in the federal class-action anti-trust lawsuit against JPMorganChase charging the investment bank with manipulating the gold and silver futures markets —

http://www.gata.org/node/18844

— have been suspended for three months at the request of the U.S. Justice Department, just as the department has arranged suspension of proceedings in the class-action anti-trust lawsuit against Deutsche Bank charging similar market manipulation.

… 

In both cases the Justice Department has told U.S. District Court for the Southern District of New York that proceedings would jeopardize its criminal investigation into market rigging, which has been admitted by a former JPMorganChase trader, John Edmonds, who awaits sentencing.

According to court filings, the White Plains, New York, law firm representing the plaintiffs against JPMorganChase, Lowey Dannenberg, concurred in the government’s request to suspend proceedings. The stay is to continue for three months and may be extended.

The Justice Department’s motion, granted by the court on February 26 —

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

— said “the government is not seeking an open-ended stay that could indefinitely postpone this matter and thus jeopardize the parties’ interests in a timely resolution.” The motion added, “Any developments in the criminal case during the period the consolidated action is stayed may reduce or completely resolve the need to litigate certain issues in the consolidated action.”

Much of the Justice Department’s motion is redacted to conceal from the public evidence still under investigation. Edmonds has said he and other traders manipulated the gold and silver markets for years with the knowledge of their supervisors at JPMorganChase. In its motion to conceal that evidence, also granted by the court on February 26, the Justice Department said disclosure “could lead to destruction of evidence, flight from prosecution, and otherwise interfere with the government’s ability to conduct its investigation”:

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

Monetary metals investors may be skeptical of the Justice Department’s stalling the Deutsche Bank and JPMorganChase cases, since the department and the U.S. Commodity Futures Trading Commission do not seem ever to have responded conscientiously to complaints of gold and silver market rigging until the class actions commenced.

How much time will the court give the Justice Department to delay getting to the bottom of the issue? The court might hasten matters if enough monetary metals mining companies protested the harm done to them and their shareholders by market rigging, but of course most monetary metals mining companies don’t mind at all.

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

* * *

 

end

 

Your early TUESDAY morning currency, Asian stock market results,  important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/7 AM EST

i) Chinese yuan vs USA dollar/CLOSED / LAST AT: 6.8694/ GETTING VERY DANGEROUSLY CLOSE TO 7:1

//OFFSHORE YUAN:  6.8759   /shanghai bourse CLOSED UP 14.86 POINTS OR 0.50%

HANG SANG CLOSED DOWN 204.22 POINTS OR 0.95%

 

2. Nikkei closed DOWN 204.22 POINTS OR 0.95%

 

 

 

 

3. Europe stocks OPENED ALL GREEN EXCEPT GERMAN DAX/

 

 

 

USA dollar index UP TO 96.66/Euro RISES TO 1.1307

3b Japan 10 year bond yield: FALLS TO. –.16/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 107/51/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

 

3c Nikkei now JUST BELOW 17,000

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

3e WTI:: 57.82 and Brent: 65/36

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.30%/Italian 10 yr bond yield UP to 2.12% /SPAIN 10 YR BOND YIELD UP TO 0.42%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 2.52: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 2.55

3k Gold at $1393.90 silver at: 14.32   7 am est) SILVER NEXT RESISTANCE LEVEL AT $18.50

3l USA vs Russian rouble; (Russian rouble DOWN 51/100 in roubles/dollar) 63.37

3m oil into the 57 dollar handle for WTI and 65 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 107.51 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning .9824 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.1108 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year RISING to 0.30%

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

4. USA 10 year treasury bond at 2.03% early this morning. Thirty year rate at 2.54%

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

6.  TURKISH LIRA:  UP  TO 5.8080..

Global Stock R

3A/ASIAN AFFAIRS

I)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 14.86 POINTS OR 0.50%  //Hang Sang CLOSED DOWN 76.72 POINTS OR 0.27%   /The Nikkei closed DOWN 204.22 POINTS OR 0.25%//Australia’s all ordinaires CLOSED DOWN .50%

/Chinese yuan (ONSHORE) closed DOWN  at 6.8694 /Oil UP TO 57.82 dollars per barrel for WTI and 65.36 for Brent. Stocks in Europe OPENED GREEN//  ONSHORE YUAN CLOSED UP // LAST AT 6.8694 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.8759 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%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

 

 

 

 

 

b) REPORT ON JAPAN

 

3c China/Chinese affairs

i)China/

Hong Kong Leader Carrie Lam Says Extradition Bill Is “Dead” After Protests

In an unexpected, if not outright bizarre concession by Beijing to protesters, on Tuesday morning Hong Kong leader Carrie Lam gave her strongest pledge yet when she declared the highly unpopular extradition bill that sparked several mass protests was “dead”, changing from an earlier script that it “will die” in 2020, according to the SCMP.

Eunice Yoon

@onlyyoontv

Climb down. For government – and, in turn, Beijing – at least for now. (News flashes below)

“I have almost immediately put a stop to the (bill) amendment exercise, but there are still lingering doubts about the government’s sincerity, or worries whether the government will restart the process in the legislative council, so I reiterate here: There is no such plan, the bill is dead.”

Addressing the month-long drama during a news conference, she reiterated that there is no plan to restart the legislation, describing the work to amend the bill as a “total failure.” Meanwhile, she said she would take full responsibility for what has happened in the city, according to a translation of her address.

However, just like Erdogan’s surprisingly muted reaction to the loss of Istanbul in the local election re-run two weeks ago was a Trojan horse to the leader’s true intentions, unveiled this past weekend with his sacking of the central bank chief, confirming that nothing has changed and the Turkish “executive president” is digging himself even deeper as the country’s unchecked, executive power, we would urge readers not to read too much into this soundbite: as the SCMP notes, whether the bill was effectively withdrawn – as demanded by protesters – remained unclear, as Lam did not say that she is officially withdrawing the bill, raising questions about to what extent the measure could be revived in the future. Additionally, Lam stood firm on not setting up a top-level probe into clashes between police and protesters. Meanwhile, an independent study will be looking into police behavior during the protests, she said, asking for some time to “improve the current situation.”

Lam noted those concerns in Cantonese remarks, via CNBC.

“What I’m saying today is nothing really different from what I said before. But maybe the citizens need to hear a definitive saying (from me),” Lam said, according to a translation of those comments. “So saying that the extradition bill is now in the coffin is the more definitive way of saying it, which means, the bill is dead. Hence, everyone doesn’t need to worry whether there will be any tactics that the discussion of the bill will resume in this Legislative Council term.”

Yet in a hint that a wave of “behind the scenes” retaliation was coming, Lam said the Independent Police Complaints Council would be launching an investigation, and that all parties involved in the demonstrations, including protesters, police, media and onlookers, could provide information.

Ever the Beijing-trained bureaucrat, the chief executive, speaking before meeting her advisers in the Executive Council, reiterated that the government did not call a protest on June 12, during which there were violent clashes between police and mostly young protesters, a “riot”. And even as she suggested that all those who had “rioted” may be facing penalties, Lam also said she was “willing to engage in an open dialogue with students without any preconditions”, sending a barrage of mixed messages.

Whether this is just a gambit to ease tension in the town where just yesterday a fresh round of protests shut down the main shopping area, or a genuine gesture, student leaders from eight universities balked, and turned down her request for a small-scale and closed-door meeting on Friday, and said they would only talk to Lam if she agreed to their two preconditions: meet them in a town hall-style open meeting and promise to exonerate protesters.

At the same time, protesters have been urging the government to respond to other demands: withdraw the bill completely, retract all references to the protest on June 12 as a riot; set up a commission of inquiry to examine police use of force; and launch democratic reforms. A demand for Lam to resign appears to have gradually faded away.

Lam admitted the public’s trust in the government was fragile, yet said she is “proud of the quality of the Hong Kong people” as demonstrated by the peaceful behavior of the vast majority of protesters. She, however, said “a very small minority of protesters have used the occasion to resort to violent acts and vandalism.”

“We are sad to see these violent acts because they undermine the rule of law in Hong Kong,” she said. “So I make a very sincere plea here, that in the future, if anyone in Hong Kong have any different views — especially those about the Hong Kong government’s policies — please continue to uphold the value of expressing it in a peaceful and orderly manner.”

As the SCMP adds, the weekly Exco meeting is the first at the Chief Executive’s Office since June 11. Last week’s meeting was held at Government House as the administrative headquarters were closed because of the protests. The previous two Exco meetings were cancelled.

Had the bill passed, it would have allowed Hong Kong to transfer suspects to jurisdictions it lacks extradition agreements with, including mainland China. Critics feared it would remove the legal firewall between the city and the mainland, exposing suspects to opaque trials across the border.

Tuesday marks exactly a month since the first mass protest against the bill brought an estimated 1 million people onto the streets on June 9, followed by about 2 million the following weekend.

China Auto Sales Post First Tepid Rise In A Year, But Only After Massive Discounts

Passenger car vehicles in China finally showed the first tepid sign of recovery after a historic and record-breaking plunge in the country over the last two years, according to The Business Times and preliminary data from the China Passenger Car Association. Of course, there is demand for everything… at the right price. And as it turns out, China was able to – at least temporarily – shake itself from its inventory glut as a result of, drumroll, offering massive discounts to clear excess inventory before new emissions rules take place on July 1.

Retail sales of passenger vehicles were up 4.9% to 1.8 million units in June from the year prior. This is the first increase since May 2018 for China, according to the CPCA data.

Thus far, according to data from Marklines, four OEMs have announced results in China:

  • Nissan announced on July 5 that it sold 131,071 units in June in China, reflecting a minor y/y increase. June sales of the X-Trail, Qashqai, Tiida, Kicks, Lannia, and Terra increased. Year-to-date (YTD) sales from January to June totaled 718,268 units, reflecting a 0.3% y/y decrease.
  • Toyota sold 140,800 units in June, reflecting an 18.5% y/y increase. YTD sales totaled 769,800 units, reflecting a 12.2% y/y increase.
  • On July 3, Honda announced that its June sales were 148,382 units for a y/y increase of 37.4%. Sales of the Accord, XR-V, Fit and Crider exceeded 10,000 units respectively, and sales of CR-V and Civic even exceeded 20,000 units. YTD sales totaled 745,409 units for a 22.4% y/y increase.
  • On July 3, Mazda announced that sales in June reached 19,574 units, reflecting a 1.4% y/y increase. YTD sales totaled 106,345 units.

The latest update offers a small sliver of hope for automobile manufacturers and dealers in China, who have been struggling with the country’s first slump in demand in a generation. The recession had been brought on by slowing economic growth, trade tensions and stricter emissions rules. Despite this, a sustained recovery is far from a guarantee and researcher LMC Automotive still estimated a decline of about 5% for the full year last month.

 

We wouldn’t get too excited for a recovery just yet…

In recent weeks, dealers have slashed their prices by as much as 50%, according to local media reports, to help clear inventory. 18 provinces and regions will require vehicles to meet the new criteria as of July 1.

To say the least, it should be interesting to see how sales numbers respond for the month of July.

Meanwhile, Jefferies said in a note Monday morning that the country’s planned stimulus for the auto industry could help along cities and provinces whose economies are heavily reliant on the auto industry.

For instance, as a result of planned subsidies, residents in places like Hunan’s capital Changsha who buy a locally produced car could get as much as 20,000 yuan in subsidies, analyst Patrick Yuan said. SAIC-VW, GAC-Mitsubishi, GAC-FCA, and BYD all have plants in Changsha. The city’s sales represent about 1.2% of China’s total market.

END

In Major Provocation To China, US Approves Sale Of $2.2 Billion In Weapons To Taiwan

For those wondering how to make sure that any trade “ceasefire” between the US and China falls apart faster than a trip on board the Lolita Express, here is a suggestion: today the US State Department approved the possible sale to Taiwan of M1A2T Abrams tanks, Stinger missiles and related equipment at an estimated value of $US2.2 billion despite vocal Chinese criticism of the dealAAP reported.

As a reminder, one month ago China’s Foreign Ministry last month said it was seriously concerned about US arms sales to self-ruled Taiwan, and urged the United States to halt the sales to avoid harming bilateral ties.

The proposed sale also comes at a perilously sensitive moment: at the start of June, during the Shangri-La Dialogue in Singapore, China’s Defense Minister Wei Fenghe warned the United States not to meddle in security disputes over Taiwan and the South China Sea. He also launched into a bellicose attack on opponents to China’s expansionist plans towards the South China Sea and Taiwan, declaring: “If they want to fight, we will fight till the end”.

 

China’s Defence Minister General Wei Fenghe

In response, acting U.S. Defense Secretary Patrick Shanahan told the meeting that the United States would no longer “tiptoe” around Chinese behavior in Asia. Confirming that, a sale of more than $2 billion in weapons to Taiwan would be seen as a provocation to China’s national interest in the region, and a clear signal that the gloves are now off when it comes to geopolitical claims, potentially resulting in a worrisome escalation of a war which has so far been confined to the sphere of trade.

The sale of the weapons requested by Taiwan, including 108 General Dynamics Corp M1A2T Abrams tanks and 250 Stinger missiles, would not alter the basic military balance in the region, the Pentagon’s Defense Security Cooperation Agency said.

DSCA has notified Congress of the possible arms sale, which it said could also include mounted machine guns, ammunition, Hercules-armoured vehicles for recovering inoperative tanks, heavy equipment transporters and related support.

The United States is the main arms supplier to Taiwan, which China deems a renegade province. Beijing has never renounced the use of force to bring the island under its control. Taiwan President Tsai Ing-wen said in March that Washington was responding positively to Taipei’s requests for new arms sales to bolster its defences in the face of pressure from China.

While the US has no formal ties with Taiwan but is bound by law to help provide it with the means to defend itself.

END

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAN

Iran Threatens To Surpass 20% Uranium Enrichment After IAEA Confirms 4.5%

Though we’re still a good distance away from the 90% uranium enrichment level it takes to build nuclear weapons, at this rate Iran will get there fast. After confirming Iran has broken past the cap placed by the JCPOA, nearing 5% Monday, Iranian nuclear officials are now threatening to boost enrichment to 20% purity, reports Bloomberg, citing state sources.

“Earlier today, the level of enrichment reached 4.5%,” confirmed the spokesman for the Atomic Energy Organization of Iran, Behrouz Kamalvandi, to state-run ISNA on Monday. He separately told the official Islamic Republic News Agency that 20% purity levels are “among the options considered,” which would require activating more advanced centrifuges.

 

Reactor building of the Bushehr nuclear power plant, just outside the southern city of Bushehr, Iran. Image source: AP/Mehr News Agency

Confirming that Monday’s announcement was no mere empty threat, the International Atomic Energy Agency (IAEA) verified that Iran surpassed the enrichment threshold. The UN-linked Vienna-based nuclear watchdog stated “that Iran is enriching uranium above 3.67%,” but without saying how far past the threshold they’d gone. Previously Iranian officials said it would be enough to help power the country’s only nuclear power plant, the Bushehr reactor.

“We have no hope nor trust in anyone, nor any country, but the door of diplomacy is open,” Foreign Ministry spokesman Abbas Mousavi said Monday. This follows a new 60-day deadline that Iran set Sunday for Europe to save the deal which Washington quit in May of 2018.

At that point in September Iran warns it will take a third step away from the deal, but without specifying the nature of that would entail. However, clearly at that point it would bring the world much closer to witnessing a nuclear Iran.

“If the remaining countries in the deal, especially the Europeans, do not fulfill their commitments seriously, and not do anything more than talk, Iran’s third step will be harder, more steadfast and somehow stunning,” the foreign ministry spokesman said.

Late Sunday after Iran announced it would bust through the cap, President Trump said Iran “better be careful” — something unlikely to give Tehran’s leaders pause, especially given that the US president’s prior rhetoric was much more aggressive and bellicose.

Secretary Pompeo

@SecPompeo

Iran’s latest expansion of its nuclear program will lead to further isolation and sanctions. Nations should restore the longstanding standard of no enrichment for Iran’s nuclear program. Iran’s regime, armed with nuclear weapons, would pose an even greater danger to the world.

And even Secretary of State Mike Pompeo’s response lacked the warmongering bluster and bravado which characterize prior administration statements in the days leading up to Iran’s shoot down of a US drone last month.

All of this shows Iran has definitely moved closer to a place where it feels it has nothing to lose, now brazenly using its only leverage in the form of its centrifuges while inundating the West with threats of ramping up enrichment levels.

Multiple analysts have noted that Iran appears to now be waging its own “counter-pressure” campaign against the White House as its economy continues to be crippled by sanctions, and as its oil tankers are under threat of seizure on the high seas. But with each new uranium threshold passed it’s now firmly in the driver’s seat compared to a mere three weeks ago.

END

6. GLOBAL ISSUES

7. OIL ISSUES

 

 

8 EMERGING MARKET ISSUES

 

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

Euro/USA 1.1307 UP .0013 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 EXCEPT GERMAN DAX

 

 

USA/JAPAN YEN 107.51 UP 0.217 (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 1.2647   DOWN   0.0060  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT EXTENDED TO OCT 31/2019//

USA/CAN 1.3189 UP .0004 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 13 basis points, trading now ABOVE the important 1.08 level RISING to 1.1307 Last night Shanghai COMPOSITE CLOSED UP 14.86 POINTS OR 0.50% 

 

//Hang Sang CLOSED DOWN 76.72 POINTS OR 0.27%

/AUSTRALIA CLOSED DOWN 0,50%// EUROPEAN BOURSES ALL GREEN EXCEPT GERMAN DAX

 

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN EXCEPT GERMAN DAX 

 

 

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 76.72 POINTS OR 0.27%

 

 

/SHANGHAI CLOSED UP 14.86 POINTS OR 0.50%

 

Australia BOURSE CLOSED DOWN. 50% 

 

 

Nikkei (Japan) CLOSED DOWN 204.22  POINTS OR 0.95%

 

 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1394.25

silver:$15.27-

Early TUESDAY morning USA 10 year bond yield: 2.03% !!! UP 0 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

 

The 30 yr bond yield 2.54 UP 1  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 96.66 UP 3 CENT(S) from  MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing TUESDAY NUMBERS \12: 00 PM

Portuguese 10 year bond yield: 0.58% UP4 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: -.16%  UP 3   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.44%//UP 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD: 2.15 DOWN 0 points in basis points yield from yesterday./

 

 

the Italian 10 yr bond yield is trading 171 points higher than Spain.

 

GERMAN 10 YR BOND YIELD: RISES TO –.29% 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…

 

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 1.1339  UP     .0043 or 43 basis points

USA/Japan: 107.50 UP .198 OR YEN DOWN 20  basis points/

Great Britain/USA 1.2712 UP .0005 POUND UP 5  BASIS POINTS)

Canadian dollar DOWN 37 basis points to 1.3229

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

The USA/Yuan,CNY: AT 6.8685    0N SHORE  (DOWN)..GETTING DANGEROUS

THE USA/YUAN OFFSHORE:  6.8693  (YUAN DOWN)..GETTING REALLY DANGEROUS

TURKISH LIRA:  5.8254 EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield closed at -.16%

 

Your closing 10 yr US bond yield UP 2 IN basis points from MONDAY at 2.06 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.58 UP 4 in basis points on the day

Your closing USA dollar index, 96.50 DOWN 13  CENT(S) ON THE DAY/1.00 PM/

 

Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates for MONDAY: 12:00 PM

London: CLOSED DOWN 9.71  0.24%

German Dax :  CLOSED DOWN 15.47 POINTS OR .13%

 

Paris Cac CLOSED DOWN 7.24 POINTS 0.13%

Spain IBEX CLOSED UP 18.70 POINTS or 0.20%

Italian MIB: CLOSED UP 27.19 POINTS OR 0.13%

 

 

 

 

 

WTI Oil price; 57.44 12:00  PM  EST

Brent Oil: 65.14 12:00 EST

USA /RUSSIAN /   ROUBLE RISES:    63.28  THE CROSS HIGHER BY 0.41 ROUBLES/DOLLAR (ROUBLE LOWER BY 41 BASIS PTS)

 

TODAY THE GERMAN YIELD RISES  TO –.29 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 :  57.62//

 

 

BRENT :  65.34

USA 10 YR BOND YIELD: … 2.06…   VERY DEADLY//

 

 

USA 30 YR BOND YIELD: 2.59..VERY DEADLY/

 

 

 

 

 

EURO/USA 1.1368 ( UP 74   BASIS POINTS)

USA/JAPANESE YEN:107.34 UP .040 (YEN DOWN 4 BASIS POINTS/..

 

 

USA DOLLAR INDEX: 96.19 DOWN 44 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.2741 UP 34  POINTS

 

the Turkish lira close: 5.8239

 

 

the Russian rouble 62.97   DOWN 0.11 Roubles against the uSA dollar.( DOWN 11 BASIS POINTS)

Canadian dollar:  1.3210 DOWN 25 BASIS pts

USA/CHINESE YUAN (CNY) :  6.8635  (ONSHORE)/we need to watch these levels/anything greater than 6.95 will be deadly./

 

USA/CHINESE YUAN(CNH): 6.8645 (OFFSHORE) we need to watch these levels/anything greater than 6.95 will be deadly/

German 10 yr bond yield at 5 pm: ,-0.29%

 

The Dow closed  DOWN 34,11 POINTS OR 0.13%

 

NASDAQ closed DOWN 17.21 POINTS OR 0.13%

 


VOLATILITY INDEX:  15.37 CLOSED DOWN .62

LIBOR 3 MONTH DURATION: 2.337%//libor dropping like a stone

 

 

 

FROM

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

TRADING IN GRAPH FORM FOR THE DAY//

Des

end

 

i) Market trading/

 

MARKET TRADING/LATE MORNING

 

 

LATE AFTERNOON

 

ii)Market data/

iii)USA ECONOMIC/GENERAL STORIES

SWAMP STORIES

Barr Weighs In On 2020 Citizenship Question, Recuses Self From Epstein Case

Attorney General William Barr said on Monday that the Trump administration can legally add a citizenship question to the 2020 census, which had been excluded for the first time in US history by President Obama.

Barr told the Associated Press that he has been in regular contact with President Trump over the matter.

I agree with him that the Supreme Court decision was wrong,” said Barr – referring to the USSC’s June Decision to block the citizenship question, adding that there is “an opportunity potentially to cure the lack of clarity that was the problem and we might as well take a shot at doing that.”

According to the report, President Trump is likely to issue a presidential memorandum to the Commerce Department over the next several days ordering it to include the citizenship question.

Last week the Justice Department appeared to cave to legal pressure to keep the question off the census, only for President Trump to reverse course the next day – tweeting that the efforts to print the question would move forward.

“The tweet this morning was the first I had heard of the president’s position on this issue, just like the plaintiffs and Your Honor. I do not have a deeper understanding of what that means at this juncture other than what the president has tweeted,” DOJ attorney Joshua Gardner told a federal judge during a Wednesday teleconference, adding “But obviously, as you can imagine, I am doing my absolute best to figure out what’s going on.”

The DOJ on Sunday also announced that it would be replacing its entire legal team dealing with the citizenship issue – replacing them with other government attorneys.

Barr recuses from Epstein

On Monday, Barr told reporters that he had recused himself from the case involving billionaire pedophile Jeffrey Epstein, who was arrested over the weekend on charges of sex-trafficking minors, according to the Washington Times.

Barr says that he used to work for one of the law firms representing Epstein “long ago,” though he did not name the firm.

END

From Russia-Gate To Deep-State-Gate: “All Hell May Break Loose”

Authored by Ray McGovern via ConsortiumNews.com,

The Deep State almost always wins. But if AG Barr leans hard on Trump to unfetter investigators, all hell may break lose, because the evidence against those who took serious liberties with the law is staring them all in the face…

 

As Congress arrives back into town and the House Judiciary and Intelligence Committees prepare to question ex-Special Prosecutor Robert Mueller on July 17, partisan lines are being drawn even more sharply, as Russias-gate blossoms into Deep-State-gate. In Sunday, a top Republican legislator, Rep. Peter King (R-NY) took the gloves off in an unusually acerbic public attack on former leaders of the FBI and CIA.

King told a radio audience: “There is no doubt to me there was severe, serious abuses that were carried out in the FBI and, I believe, top levels of the CIA against the President of the United States or, at that time, presidential candidate Donald Trump,” according to The Hill.

King, a senior congressman specializing in national security, twice chaired the House Homeland Security Committee and currently heads its Subcommittee on Counterterrorism and Intelligence. He also served for several years on the House Intelligence Committee.

He asserted:

“There was no legal basis at all for them to begin this investigation of his campaign – and the way they carried it forward, and the way information was leaked. … All of this is going to come out. It’s going to show the bias. It’s going to show the baselessness of the investigation … and I would say the same thing if this were done to Hillary Clinton or Bernie Sanders …It’s just wrong.”

The Long Island Republican added a well aimed swipe at what passes for the media today: “The media went along with this – actually, keeping this farcical, ridiculous thought going that the President of the United States… was somehow involved in a conspiracy with Russia against his own country.”

King: Lashes out.

According to King, the Justice Department’s review, ordered by Attorney General William Barr, would prove that former officials acted improperly. He was alluding to the investigation led by John Durham, U.S. Attorney in Connecticut. Sounds nice. But waiting for Durham to complete his investigation at a typically lawyerly pace would, I fear, be much like the experience of waiting for Mueller to finish his; that is, like waiting for Godot. What about now?

So Where is the IG Report on FISA?

That’s the big one. If Horowitz is able to speak freely about what he has learned, his report could lead to indictments of former CIA Director John Brennan, former FBI Director James Comey, former FBI Deputy Director Andrew McCabe, former Deputy Attorneys General Sally Yates and Rod Rosenstein, and Dana Boente — Boente being the only signer of the relevant FISA applications still in office. (No, he has not been demoted to file clerk in the FBI library; at last report, he is FBI General Counsel!).

The DOJ inspector General’s investigation, launched in March 2018, has centered on whether the FBI and DOJ filing of four FISA applications and renewals beginning in October 2016 to surveil former Trump campaign adviser Carter Page amounted to abuse of the FISA process. (Fortunately for the IG, Obama’s top intelligence and law enforcement officials were so sure that Hillary Clinton would win that they did not do much to hide their tracks.)

The Washington Examiner reported last Tuesday, “The Justice Department inspector general’s investigation of potential abuse of the Foreign Intelligence Surveillance Act is complete, a Republican congressman said, though a report on its findings might not be released for a month.”  The report continued:

“House Judiciary Committee member John Ratcliffe (R, Texas) said Monday he’d met with DOJ watchdog Michael Horowitz last week about his FISA abuse report. In a media interview, Ratcliffe said they’d discussed the timing, but not the content of his report and Horowitz ‘related that his team’s investigative work is complete and they’re now in the process of drafting that report. Ratcliffe said he was doubtful that Horowitz’s report would be made available to the public or the Congress anytime soon. ‘He [Horowitz] did relay that as much as 20% of his report is going to include classified information, so that draft report will have to undergo a classification review at the FBI and at the Department of Justice,’ Ratcliffe said. ‘So, while I’m hopeful that we members of Congress might see it before the August recess, I’m not too certain about that.’”

Horowitz: Still waiting for his report.

Earlier, Horowitz had predicted that his report would be ready in May or June but there may, in fact, be good reason for some delay. Fox News reported Friday that “key witnesses sought for questioning by Justice Department Inspector General Michael E. Horowitz early in his investigation into alleged government surveillance abuse have come forward at the 11th hour.” According to Fox’s sources, at least one witness outside the Justice Department and FBI has started cooperating — a breakthrough that came after Durham was assigned to lead a separate investigation into the origins of the FBI’s 2016 Russia case that led to Special Counsel Robert Mueller’s probe.

“Classification,” however, has been one of the Deep State’s favorite tactics to stymie investigations — especially when the material in question yields serious embarrassment or reveals crimes. And the stakes this time are huge.

Judging by past precedent, Deep State intelligence and law enforcement officials will do all they can to use the “but-it’s-classified” excuse to avoid putting themselves and their former colleagues in legal jeopardy. (Though this would violate Obama’s executive order 13526, prohibiting classification of embarrassing or criminal information).

It is far from clear that DOJ IG Horowitz and Attorney General Barr will prevail in the end, even though President Trump has given Barr nominal authority to declassify as necessary. Why are the the stakes so extraordinarily high?

What Did Obama Know, and When Did He Know It?

Recall that in a Sept. 2, 2016 text message to the FBI’s then-deputy chief of counterintelligence Peter Strzok, his girlfriend and then-top legal adviser to Deputy FBI Director McCabe, Lisa Page, wrote that she was preparing talking points because the president “wants to know everything we’re doing.”[Emphasis added.] It does not seem likely that the Director of National Intelligence, DOJ, FBI, and CIA all kept President Obama in the dark about their FISA and other machinations — although it is possible they did so out of a desire to provide him with “plausible denial.”

It seems more likely that Obama’s closest intelligence confidant, Brennan, told him about the shenanigans with FISA, that Obama gave him approval (perhaps just tacit approval), and that Brennan used that to harness top intelligence and law enforcement officials behind the effort to defeat Trump and, later, to emasculate and, if possible, remove him.

Moreover, one should not rule out seeing in the coming months an “Obama-made-us-do-it” defense — whether grounded in fact or not — by Brennan and perhaps the rest of the gang. Brennan may even have a piece of paper recording the President’s “approval” for this or that — or could readily have his former subordinates prepare one that appears authentic.

Reining in Devin Nunes

That the Deep State retains formidable power can be seen in the repeated Lucy-holding-then-withdrawing-the-football-for-Charlie Brown treatment experienced by House Intelligence Committee Ranking Member, Devin Nunes (R-CA). On April 5, 2019, in the apparent belief he had a green light to go on the offensive, Nunes wrote that committee Republicans “will soon be submitting criminal referrals on numerous individuals involved … in the abuse of intelligence for political purposes. These people must be held to account to prevent similar abuses from occurring in the future.”

Nunes: Still waiting for his referrals. (Flickr)

On April 7, Nunes was even more specific, telling Fox News that he was preparing to send eight criminal referrals to the Department of Justice “this week,” concerning alleged misconduct during the Trump-Russia investigation, including leaks of “highly classified material” and conspiracies to lie to Congress and the FISA court. It seemed to be no-holds-barred for Nunes, who had begun to talk publicly about prison time for those who might be brought to trial.

Except for Fox, the corporate media ignored Nunes’s explosive comments. The media seemed smugly convinced that Nunes’s talk of “referrals” could be safely ignored — even though a new sheriff, Barr, had come to town. And sure enough, now, three months later, where are the criminal referrals?

There is ample evidence that President Trump is afraid to run afoul of the Deep State functionaries he inherited. And the Deep State almost always wins. But if Attorney General Barr leans hard on the president to unfetter Nunes, IG Horowitz, Durham and like-minded investigators, all hell may break lose, because the evidence against those who took serious liberties with the law is staring them all in the face.

END

E)SWAMP STORIES/MAJOR STORIES//THE KING REPORT

Deutsche Bank agonistes and a Rosenblatt downgrade of Apple induced stock selling on Monday.

Apple Caution Grows as Sell Ratings Hit Multi-Decade Record (57, highest since 1997)

https://finance.yahoo.com/news/apple-caution-grows-sell-ratings-131550255.html

Inflation expectations are collapsing in Europe and Germany might be in recession.  ECB officials are already preparing the markets for deeper NIRP.  The negative rates are killing European banks.  So, deeper NIRP could create systemic problems.  Everyone knows DB is on life support.  Few people know how much exposure financial institutions have to DB and its ungodly €43.5 trillion derivatives book.

Deutsche Bank derivative dumbness

Deutsche Bank’s notional derivative exposure, which as of Dec 31 2018, according to the bank’s annual report, stood at a terrifying €43.5tn

https://ftalphaville.ft.com/2019/07/08/1562575972000/Deutsche-Bank-derivative-dumbness/

Greece’s left-wing PM ousted by conservative party [Greek bonds soared]

Mitsotakis’ New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. Tsipras’ Coalition of the Radical Left, or Syriza, garnered 31.5%…Mitsotakis said Sunday he would stick to his campaign pledges of lowering taxes, attracting investments and cutting through red tape to make Greece more business-friendly

https://nypost.com/2019/07/08/greeces-left-wing-pm-ousted-by-conservative-party/

Just What Was That Stricken Russian Submarine Carrying?

Russian servicemen ‘averted planetary catastrophe’ during nuclear submarine accident, military official claims at funeral… Seven of the dead were captains, meaning whatever they were up to was pretty important… So what was the submarine… capable of 20,000 foot dives carrying?  The best guess I’ve seen is a high-yield, 100 – 200 megaton, cobalt thermonuclear bomb.  A bomb that size, two to four times more powerful than the biggest ever exploded…but if it is encased in cobalt it becomes the most lethal munition ever built… [The cobalt becomes radioactive and spreads throughout a vast area.]

http://climateerinvest.blogspot.com/2019/07/just-what-was-that-stricken-russian.html

 

Trump’s Citizenship Question Isn’t Controversial. Obama Deleting It Should’ve Been.

Obama was the first U.S. President to not include a question on nationality in the decennial census.

https://humanevents.com/2019/07/06/trumps-citizenship-question-isnt-controversial-obama-deleting-it-shouldve-been/

 

Former FBI official: Indictment of Jeffrey Epstein is ‘placeholder,’ expect dozens more charges in near future – Former Assistant FBI Director Chris Swecker said he believes the two-count indictment was brought to get Epstein “off the street” as fast as possible…

https://www.foxnews.com/us/jeffrey-epstein-indictment-former-fbi-official-expect-more-charges

 

@Barnes_Law: Epstein indictment. The fact that neither the prior Miami agreement nor the statute of limitations prohibited these charges raises another question: why didn’t the SDNY bring charges while @PreetBharara was in charge? Why did Manhattan DA fail to bring charges? Bill Clinton?

 

OAN’s @JackPosobiec: Epstein’s lawyer has already made a proffer to SDNY. Epstein will agree to cooperate with the investigation, including giving up the names of individuals that paid for activities with underage girls in exchange for a maximum sentence not to exceed 5 years

 

@Barnes_Law: Internal FBI reports disclosed via FOIA (an undervalued legal remedy best used by @JudicialWatch @Cernovich & @Techno_Fog) revealed real reason for sweetheart #Epstein deal: “no federal prosecution will occur in this matter” as Epstein “provided information…as agreed upon.

Nor is this new: #Mueller cut similar sweetheart deals w/ Asimov when federal prosecutor in San Francisco & George Nader evaded prosecution for child porn while #Mueller was in office. In all 3 cases, #Mueller never apparently used the information for actual prosecutions. Why?

 

Gawker: Jeffrey Epstein’s Little Black Book

https://gawker.com/here-is-pedophile-billionaire-jeffrey-epsteins-little-b-1681383992

 

The Mystery around Jeffrey Epstein’s Fortune and How He Made It

He ran a money management firm catering to the ultra-rich, primarily for Victoria’s Secret found Les Wexner… and few on Wall Street have dealt with him as a financier or money manager…

https://www.bloomberg.com/news/articles/2019-07-08/the-mystery-around-jeffrey-epstein-s-fortune-and-how-he-made-it

 

Les Wexner renounces Republican Party affiliation after Obama stops in Columbus  Sept 15, 2018

After former Democratic President Barack Obama made a stop in Columbus, L Brands CEO Leslie H. Wexner, the wealthiest Republican supporter in the state, told a small audience at a Downtown event that he is fed up and has quit the Republican Party… [Wexner reportedly was Epstein’s 1st & primary client.]

https://www.dispatch.com/news/20180915/les-wexner-renounces-republican-party-affiliation-after-obama-stops-in-columbus

Well that about does it for tonight

I will see you on WEDNESDAY night

H

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One comment

  1. SUDHIR · · Reply

    What is silver loan repayment ?
    Can I get details on this.

    Like

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