GOLD:$1965.60 UP $5.90 The quote is London spot price

Silver:$28.28 UP$0.80 London spot price ( cash market)

Gold and especially silver had a stellar day despite the fact that London, our major physical sponsor, was absent due to a banking holiday.

Expect gold to attack the 2,000 level and silver the huge 30.00 dollar barrier

should be fun to watch..

your data for today.

Closing access prices: London spot

i)Gold : $1969.20 LONDON SPOT 4:30 pm

ii)SILVER: $28.18//LONDON SPOT 4:30 pm

CLOSING FUTURES PRICES: KEY MONTHS

SEPT GOLD: $1969.10 CLOSE 1::30 PM SPREAD SPOT/FUTURE AUG (BACKWARD $2.4//) SCARCITY//

OCT GOLD: $1970.10 CLOSE 1.30 PM// SPREAD SPOT/FUTURE OCT /: : $1.40//BACKWARD//

DEC. GOLD $1978.30 CLOSE 1.30 PM SPREAD SPOT/FUTURE DEC $7.60/ CONTANGO ($4.30 BELOW NORMAL CONTANGO)

CLOSING SILVER FUTURE MONTH

SILVER SEPT COMEX CLOSE; $28.40…1:30 PM.//SPREAD SPOT/FUTURE SEPT// : ( 12 cent contango//12 CENTS ABOVE NORMAL contango)

SILVER DECEMBER CLOSE: $28.59 1:30 PM SPREAD SPOT/FUTURE DEC. : 31 CENTS PER OZ CONTANGO ( 19 CENTS ABOVE NORMAL CONTANGO)

COMEX DATA

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

receiving today: 0/1928

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,964.600000000 USD
INTENT DATE: 08/28/2020 DELIVERY DATE: 09/01/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
118 H MACQUARIE FUT 25
135 H RAND 10
159 C ED&F MAN CAP 3
355 C CREDIT SUISSE 44
624 C BOFA SECURITIES 481 164
657 C MORGAN STANLEY 323
657 H MORGAN STANLEY 578
661 C JP MORGAN 502
685 C RJ OBRIEN 3
686 C INTL FCSTONE 5
690 C ABN AMRO 149 11
709 C BARCLAYS 927
709 H BARCLAYS 126
732 C RBC CAP MARKETS 33
737 C ADVANTAGE 3 1
800 C MAREX SPEC 18 16
880 C CITIGROUP 2
905 C ADM 432
____________________________________________________________________________________________

TOTAL: 1,928 1,928
MONTH TO DATE: 1,928

NUMBER OF NOTICES FILED TODAY FOR AUGUST CONTRACT: 1928 NOTICE(S) FOR 192800 OZ (5.9988 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR: 1928 NOTICES FOR 192800 OZ

SILVER

6545 NOTICE(S) FILED TODAY FOR 32,750,000 OZ/

total number of notices filed so far this month: 6545 for 32.750 MILLION oz

BITCOIN MORNING QUOTE $11,674 DOWN 32

BITCOIN AFTERNOON QUOTE.: $11,731 UP 12

GLD AND SLV INVENTORIES:

WITH GOLD UP $5.90 AND NO PHYSICAL TO BE FOUND ANYWHERE:

WITH ALL REFINERS CLOSED//MEXICO ORDERING ALL MINES SHUT: WHERE ARE THEY GETTING THE “PHYSICAL?

NO CHANGE IN GOLD INVENTORY AT THE GLD//

GLD: 1,251.50 TONNES OF GOLD//

WITH SILVER UP 80 CENTS TODAY: AND WITH NO SILVER AROUND:

A MASSIVE CHANGE IN INVENTORY AT THE SLV/// ANOTHER PAPER DEPOSIT OF 2.982 MILLION OZ INTO THE SLV

RESTING SLV INVENTORY TONIGHT:

SLV: 574.053 MILLION OZ./

XXXXXXXXXXXXXXXXXXXXXXXXX

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

IN SILVER THE COMEX OI FELL BY A STRONG SIZED 1,352 CONTRACTS FROM 169,720 DOWN TO 168,368, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR STRONG 48 CENT RISE IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE LOSS IN COMEX OI IS PRIMARILY DUE TO OUR CONTINUING SILVER SPREADER LIQUIDATION ALTHOUGH LESS THAN THURSDAY…. CONSIDERABLE BANKER SHORT COVERING COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL ISSUANCE, ZERO LONG LIQUIDATION, WITH A POWERFUL INITIAL STANDING IN SILVER AT THE COMEX FOR AUGUST. WE HAD A TINY NET GAIN IN OUR TWO EXCHANGES OF 170 CONTRACTS, WITH THE MAJORITY OF THE COMEX LOSS DUE TO THE LIQUIDATION OF OUR CRIMINAL SPREADERS… (SEE CALCULATIONS BELOW).

WE HAVE ALSO WITNESSED A HUGE 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 ROUTE: SEP 1136 DEC: 0, MARCH 0 FOR ZERO ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 1136 CONTRACTS. WITH THE TRANSFER OF 1136 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 1136 EFP CONTRACTS TRANSLATES INTO 5.680 MILLION OZ ACCOMPANYING:

1.THE 48 CENT RISE 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//

22.605 MILLION OZ STANDING FOR JULY

10.025 MILLION OZ INITIAL STANDING IN AUGUST.

43.030 MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)

7.32 MILLION OZ INITIALLY STANDING IN OCT

2.630 MILLION OZ STANDING FOR NOV.

20.970 MILLION OZ FINAL STANDING IN DEC

5.075 MILLION OZ FINAL STANDING IN JAN

1.480 MILLION OZ FINAL STANDING IN FEB

23.005 MILLION OZ FINAL STANDING FOR MAR

4.660 MILLION OZ FINAL STANDING FOR APRIL

45.220 MILLION OZ FINAL STANDING FOR MAY

2.205 MILLION OF FINAL STANDING FOR JUNE

86.470 MILLION OZ FINAL STANDING IN JULY.

6.475 MILLION OZ FINAL STANDING IN AUGUST

52.740 MILLION OZ INITIALLY STANDING IN SEPT

FRIDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE 48 CENTS) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE BASICALLY UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS FROM THEIR POSITIONS AS ALTHOUGH WE HAD A STRONG LOSS AT THE COMEX, THE ENTIRE LOSS WAS DUE TO OUR CONTINUING SILVER SPREADER LIQUIDATION OPERATION. THE BANKERS ENGAGED IN CONSIDERABLE BANKER SHORT COVERING,, BUT THEY COULD NOT COVER MUCH.WITH THE CONSIDERABLE RISE IN PRICE. THUS: IN SUMMARY

i)CONTINUING SPREADER LIQUIDATION ii) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A HUGE INITIAL SILVER OZ STANDING FOR SEPTEMBER, HUGE BANKER SHORT COVERING AND 4) ZERO LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..AND THUS THE REASON FOR OUR MASSIVE RAID THIS MORNING AND ALL LAST WEEK

SPREADING OPERATIONS/NOW SWITCHING TO SILVER (WE SWITCH OVER TO GOLD ON SEPT 1)

OUR SPREADING OPERATION HAS NOW SWITCHED INTO GOLD…..

SPREADING OPERATION FOR OUR NEWCOMERS:

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED IN SILVER AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPT.

FOR THOSE OF YOU WHO ARE NEW, HERE IS THE MODUS OPERANDI OF THE SPREADERS AND THE CRIMINAL ELEMENT BEHIND IT:

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

THE SPREADING LIQUIDATION OPERATION IS NOW OVER FOR GOLD..AND WE WILL NOW MORPH INTO AN ACCUMULATION PHASE OF SPREADING CONTRACTS FOR SILVER. THEY WILL ACCUMULATE CONSIDERABLE AMOUNT OF THE CONTRACTS AND THEN LIQUIDATE ONE WEEK PRIOR TO FIRST DAY NOTICE

MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH 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 NOW INTO THE NON ACTIVE DELIVERY MONTH OF AUGUST HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF SEPT FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE IN THIS NON ACTIVE MONTH OF AUGUST. 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 (SEPT), 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.”

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

AUGUST

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

25,492 CONTRACTS (FOR 21 TRADING DAY(S) TOTAL 25,492 CONTRACTS) OR 127.46 MILLION OZ: (AVERAGE PER DAY: 1049 CONTRACTS OR 5.245 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF AUGUST: 127.46 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 18.20% 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 2020 TO DATE SILVER EFP’S: 1,386.09 MILLION OZ.

JANUARY 2020 EFP TOTALS SO FAR: 181.61 MILLION OZ

FEB 2020 EFP’S TOTAL : …… 259.600 MILLION OZ

MARCH EFP’S ….. 452.280 MILLION OZ //TOTALS//AND A NEW RECORD FOR THE MONTH)

APRIL EFP 95.355 MILLION OZ. (EX. FOR PHYSICALS BECOMING A LOT LESS)

MAY EFP FINAL: 77.27 MILLION OZ

JUNE EXP 71.15 MILLION OZ.

JULY EXP 133.95 MILLION OZ/ (EXCHANGE FOR PHYSICALS STARTING TO RISE EXPONENTIALLY AGAIN)

AUGUST EXP 127.46 MILLION OZ (EXCHANGE FOR PHYSICALS STARTING TO DECREASE AGAIN)

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1352, DESPITE OUR 48 CENT RISE IN SILVER PRICING AT THE COMEX ///FRIDAY AS ONE A NET BASIS, NOBODY REALLY LEFT THE SILVER ARENA..AS ALL OF THE LOSS WAS DUE TO SPREADER LIQUIDATION…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1136 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

TODAY WE LOST A STRONG SIZED 1352 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR STRONG 48 CENT GAIN IN PRICE)//AND AS MENTIONED ABOVE, ALL OF THE COMEX LOSS WAS DUE TO SPREADER LIQUIDATION.

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 1136 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH A CONSIDERABLE SIZED DECREASE OF 1,352 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR 48 CENT RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $27.49 // FRIDAY’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 UNDER 1 BILLION oz i.e. 0.843 BILLION OZ TO BE EXACT or 120% of annual global silver production (ex Russia & ex China).

FOR THE NEW AUGUST DELIVERY MONTH/ THEY FILED AT THE COMEX: 6745 NOTICE(S) FOR 32,725,000 OZ OF SILVER.

IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY’S RECORD OF 244,705 WAS SET WITH A PRICE OF: 18.91 (FEB 25/2020)

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ MAY: 36.285 MILLION OZ ; JUNE/2018 (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ JANUARY AT 5.825 MILLION OZ.AND FEB 2019: 2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/ APRIL AT 3.875 MILLION OZ/ A MAY: 18.845 MILLION OZ ..JUNE 2.660 MILLION OZ//JULY 22.605 MILLION OZ; AUGUST 10.025 MILLION OZ/ SEPT 43.030 MILLION OZ//OCT: 7.665 MILLION OZ// NOV: 2.630 MILLION OZ//DEC: 20.970 MILLION OZ; JAN: 5.075 MILLION OZ.//FEB 1.480 MILLION OZ//MAR: 23.005 MILLION OZ/APRIL 4.660 MILLION OZ//MAY 45.220 MILLION OZ//JUNE: 2.205 MILLION OZ// JULY 86.470 million oz//AUGUST 6.475 MILLION OZ//SEPT. 52.740 MILLION OZ//
THE RECORD PRIOR TO TODAY WAS SET IN FEB 25/2018: 244,710 CONTRACTS, WITH A SILVER PRICE OF $18.90//.
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017 RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 3716 CONTRACTS TO 547,812 AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE FAIR SIZED GAIN IN COMEX OI OCCURRED WITH OUR RISE IN PRICE OF $38.20 /// COMEX GOLD TRADING// FRIDAY//WE HAD CONSIDERABLE BANKER SHORT COVERING, A STRONG INITIAL STANDING AT THE GOLD COMEX FOR SEPT, ALONG WITH SOME ZERO LONG LIQUIDATION ACCOMPANYING A SMALL EXCHANGE FOR PHYSICAL ISSUANCE. THIS ALL HAPPENED WITH OUR HUGE GAIN IN PRICE OF $38.20.

WE HAD A VOLUME OF 0 4 -GC CONTRACTS//OPEN INTEREST 134// (2400 OZ WAS DELIVERED ON FRIDAY FROM THE ENHANCED GOLD INVENTORY)…

WE GAINED A STRONG SIZED 7177 CONTRACTS (22.32 TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 4380 CONTRACTS:

CONTRACT .; AUG 0 AND OCT: 0 DEC: 3461; JUNE: 0 ALL OTHER MONTHS ZERO//TOTAL: 4380. The NEW COMEX OI for the gold complex rests at 547,812. 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 EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7177 CONTRACTS: 3716 CONTRACTS INCREASED AT THE COMEX AND 3461 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN OF 7177 CONTRACTS OR 22.32 TONNES. FRIDAY, WE HAD A POWERFUL GAIN OF $38.20 IN GOLD TRADING……

AND WITH THAT GAIN IN PRICE, WE HAD A STRONG SIZED GAIN IN TOTAL/TWO EXCHANGES GOLD TONNAGE OF 22.32 TONNES!!!!!! THE BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO LOWER GOLD’S PRICE (IT ROSE $38.20). WE HAD A STRONG BANKER SHORT COVERING OPERATION AND JUDGING FROM THE STRONG GAIN IN TOTAL OI WITH FAIR ISSUANCE IN EXCHANGES FOR PHYSICAL THEY COULD NOT FLEECE ANY OF OUR SPECULATOR LONGS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3461) ACCOMPANYING THE GOOD SIZED GAIN IN COMEX OI (3461 OI): TOTAL GAIN IN THE TWO EXCHANGES: 7127 CONTRACTS. WE NO DOUBT HAD 1 )CONSIDERABLE BANKER SHORT COVERING , 2.)A STRONG INITIAL STANDING AT THE GOLD COMEX FOR THE FRONT SEPT. MONTH, 3) ZERO NET LONG LIQUIDATION; 4) GOOD COMEX OI GAIN AND 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL AND …ALL OF THIS WAS COUPLED WITH OUR HUGE GAIN IN GOLD PRICE TRADING//FRIDAY//$38.20.

WE ARE BEGINNING TO WITNESS A LACK OF EXCHANGE FOR GOLD PHYSICALS UNDERWRITTEN DUE TO PREMIUMS STARTING TO REAPPEAR IN THE FUTURE PRICE OF GOLD VS LONDON SPOT. THE COST TO THE BANKERS IS JUST TOO GREAT TO ENGAGE IN THESE VEHICLES ONCE THIS OCCURS.

THE FACT THAT WE ARE CONTINUALLY SEEING A DROP IN COMEX OPEN INTEREST AND VOLUMES COUPLED WITH LESS EXCHANGE FOR PHYSICALS PROBABLY MEANS THAT OUR LONGS ARE ALREADY DEPARTING NEW YORK FOR THE NEW PHYSICAL PLATFORM AT LONDON’S LME.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2020 INCLUDING TODAY

AUGUST

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF AUGUST : 48,477, CONTRACTS OR 4,847,700, oz OR 150.78 TONNES (21 TRADING DAY(S) AND THUS AVERAGING: 2308 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 21 TRADING DAY(S) IN TONNES: 150.78 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2019, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 150.78/3550 x 100% TONNES =4.24% OF GLOBAL ANNUAL PRODUCTION

ISSUANCE OF EXCHANGE FOR PHYSICAL GOLD HAS DISSIPATED THIS MONTH…THE COST TO THE BANKERS TO CARRY THESE CONTRACTS IN LONDON IS BECOMING TOO GREAT FOR THEM.

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE: 3,410.83 TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; : 570.19 TONNES

FEB 2020 TOTAL EFP ISSUANCE : 653.78 TONNES

MARCH TOTAL EFP ISSUANCE 1,098.93 TONNES (*AND A NEW ALL TIME RECORD ISSUANCE//22 DAYS)

APRIL TOTAL EFP. ISSUANCE: 243.45 TONNES (EFP ISSUANCE BECOMING A LOT LESS)

MAY TOTAL EFP ISSUANCE: 248.68 TONNES (EFP ISSUANCE STILL LOW// PREMIUM COST TO THE BANKERS IS HUGE..SO ISSUANCE IS LESS)

JUNE TOTAL EFP ISSUANCE: 192.06 TONNES

JULY TOTAL EFP ISSUANCE; 313.09 TONNES ..(EXCHANGE FOR PHYSICALS REVERSE COURSE AND ARE NOW INCREASING!)

AUGUST TOTAL EFP ISSUANCE; 150.78 TONNES FINAL

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.

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 1352 CONTRACTS FROM 169,720, DOWN TO 168,368 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT 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 2 3/4 YEARS AGO. THE PRICE OF SILVER ON THAT DAY: $17.89.

THE CONSIDERABLE SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1 )CONTINUAL SPREADER LIQUIDATION 2) CONSIDERABLE BANKER SHORT COVERING , 2) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A HUGE INITIAL STANDING FOR SILVER AT THE COMEX FOR SEPT., AND 4) ZERO LONG LIQUIDATION,

EFP ISSUANCE 1102 CONTRACTS

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

SEPT: 1102 AND DEC. 0 AND MARCH: 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1102 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1,352 CONTRACTS TO THE 1102 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A TINY SIZED LOSS OF 216 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 1.08 MILLION OZ, OCCURRED DESPITE OUR STRONG 48 CENT GAIN IN PRICE///

HOWEVER IT MUST BE POINTED OUT THAT THE ENTIRE LOSS IN OI ON THE COMEX WAS DUE TO SPREADER LIQUIDATION.

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL..THE EVIDENCE IS CLEAR: HUGE AMOUNTS OF PHYSICAL STANDING FOR BOTH SILVER AND GOLD .

(report Harvey)

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT:

SHANGHAI CLOSED DOWN 8.13 POINTS OR 0.24% //Hang Sang CLOSED DOWN 245.01 POINTS OR 0.96% /The Nikkei closed UP 257.11 POINTS OR 1.12%//Australia’s all ordinaires CLOSED DOWN .24%

/Chinese yuan (ONSHORE) closed UP at 6.8432 /Oil UP TO 43.46 dollars per barrel for WTI and 46.40 for Brent. Stocks in Europe OPENED MIXED// ONSHORE YUAN CLOSED DOWN // LAST AT 6.8432 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.8456 TRADE TALKS STALL////TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS PANDEMIC : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP RAISED RATES TO 25% AN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP RAISED RATES TO 25%

COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 3716 CONTRACTS TO 548,384 MOVING CLOSER TO OUR RECORD THAT WAS SET IN JANUARY/2020: {799,541 OI(SET JAN 16/2020)} AND PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND ALL OF THIS FAIR COMEX INCREASE OCCURRED DESPITE OUR HUGE GAIN OF $38.20 IN GOLD PRICING /FRIDAY’S COMEX TRADING/). WE ALSO HAD A GOOD EFP ISSUANCE (3461 CONTRACTS),. THUS, WE HAD AGAIN 1) HUGE BANKER SHORT COVERING AT THE COMEX. THEY ORCHESTRATED ANOTHER RAID WHICH FAILED MISERABLY. BUT JUDGING FROM THE GAIN IN TOTAL OI, THEY WERE TOTALLY UN SUCCESSFUL IN CLOSING OUT MUCH OF THOSE SHORTS…… , PLUS WE HAD 2) ZERO LONG LIQUIDATION AND 3) A POWERFUL INITIAL TONNAGE STANDING AT THE GOLD COMEX//SEPT. DELIVERY MONTH (SEE BELOW) … AS WE ENGINEERED A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 7177 CONTRACTS. WE HAVE LATELY WITNESSED THE EXCHANGE FOR PHYSICALS ISSUED BEING SMALL….. AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON.

(SEE BELOW)

WE HAD 0 4 -GC VOLUME//open interest REMAINS AT 134

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF JULY.. THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 3461 EFP CONTRACTS WERE ISSUED: AUG 0 , OCT: 0 DEC 3461; JUNE// ’21 0 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3461 CONTRACTS.

YOU WILL FIND THAT WHEN WE HAVE A GOOD PREMIUM IN THE FUTURES/SPOT, THEN THE NUMBER OF EXCHANGE FOR PHYSICALS DECLINE IN NUMBERS. THE COST IS JUST TOO MUCH FOR THEM TO ISSUE. TODAY THAT PREMIUM WAS SMALL AND THUS A LITTLE MORE THAN USUAL OF EXCHANGE FOR PHYSICALS WERE ISSUED.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 7177 TOTAL CONTRACTS IN THAT 3461 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A FAIR SIZED 3716 COMEX CONTRACTS. THE BANKERS ARE NOW LOATHE TO SUPPLY THE SHORT PAPER. THEY CONTINUE TO ISSUE SMALLER AMOUNTS OF EXCHANGE FOR PHYSICAL AS THE COST ON CARRYING SERIAL FORWARDS IN LONDON IS TOO GREAT FOR THEM. WE HAD HUGE BANKER SHORT COVERING AS THE BANKERS HAVE BEEN CAUGHT TERRIBLY OFFSIDE ON THEIR SHORT POSITIONS..AND THUS THE REASON FOR OUR HUGE RAIDS LAST WEEK AND THIS WEEK COURTESY OF THE OFFICIAL SECTOR/BIS//BANKERS. TODAY WE WITNESSED A STRONG INITIAL GOLD TONNAGE STANDING FOR SEPT….. NEWBIE LONGS JOINED INTO THE FESTIVITY WITH THE STRONG PRICE ADVANCE.

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT ROSE $38.20). AND, THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS

AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 22.32 TONNES WITH THE HUGE RISE IN PRICE

NET GAIN ON THE TWO EXCHANGES :: 7177, CONTRACTS OR 717,700 OZ OR 22.32 TONNES.

COMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION. IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCTION)

THUS IN GOLD WE HAVE THE FOLLOWING: 547,812 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 54.78 MILLION OZ/32,150 OZ PER TONNE = 1703 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1703/2200 OR 77.41% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

INITIAL STANDING FOR SEPT GOLD

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil oz
Withdrawals from Customer* Inventory in oz*	8045.400 oz HSBC Malca includes 200 kilobars Malca
Deposits to the Dealer* Inventory in oz*	NIL oz
Deposits to the Customer* Inventory, in oz*	96.453 OZ Malca 3 KILOBARS
No of oz served (contracts) today	1928 notice(s) 192800 OZ (5.9969 TONNES)
No of oz to be served (notices)	1142 contracts (114,200 oz) 3.648 TONNES
Total monthly oz gold served (contracts) so far this month	1928 notices 192800 OZ 5.9969 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

total withdrawals; 8045.400 oz

We had 2 kilobar transactions +

ADJUSTMENTS: 3 //

dealer to customer

i) Out of BRINKS 160,583.327 oz

ii) Out of Loomis: 1060.983 oz

customer to dealer:

Manfra: 48,419.410 oz

The front month of SEPT registered a total of 3070 CONTRACTS. THUS BE DEFINITION THE INITIAL AMOUNT OF GOLD OZ STANDING IN THIS NON ACTIVE MONTH OF SEPTEMBER IS AS FOLLOWS:

3070 CONTRACTS X 100 OZ PER CONTRACT = 307000 OZ OR 9.548 TONNES.

THIS IS HUGE FOR A NON ACTIVE DELIVERY MONTH.

THE ASSAULT ON THE GOLD COMEX CONTINUES UNABATED…

Oct LOST 549 contracts DOWN to 63,472

The big December contract GAINED 2914 contracts UP to 403,976 contracts…(it is here where some of our short side bankers tried to bail at higher prices//newbie longs entered the arena)

We had 1928 notices filed today for 192,800 oz

To calculate the INITIAL total number of gold ounces standing for the SEPT /2020. contract month, we take the total number of notices filed so far for the month (1928) x 100 oz , to which we add the difference between the open interest for the front month of SEPT (3070 CONTRACTS ) minus the number of notices served upon today (1928 x 100 oz per contract) equals 307,000OZ OR 9.548 TONNES) the number of ounces standing in this active month of JUNE

thus the INITIAL standings for gold for the SEPT/2020 contract month:

No of notices filed so far (1928, x 100 oz + (3070 OI) for the front month minus the number of notices served upon today (1928) x 100 oz which equals 307,000 oz standing OR 19.548 TONNES in this active delivery month. This is a HUGE amount for gold standing for a SEPT delivery month (a NON active delivery month).

THE NAME OF THE GAME TODAY IS BANKER SHORT COVERING AS FINALLY FEAR BECAME THEIR CENTRAL FOCUS.

NEW PLEDGED GOLD: BRINKS

144,088.952 oz NOW PLEDGED JAN 21.2020/HSBC 5.4807 TONNES

42,548.308.00 PLEDGED APRIL 3/2020: SCOTIA: 1.3234 tonnes

deleted Int. Delaware pledge July 7 (600 tonnes)

261,955.892 oz (some deleted august 3) JPM 8.1479 TONNES

611,401.341 oz pledged June 12/2020 Brinks/ july 2/july 21 19.017 tonnes

51,084.609 oz Pledged August 21/regular account 1.588 tonnes jpm

total pledged gold: 1,111,079.092 oz 34.55 tonnes

total pledged gold:

b 2 pledged gold JPMorgan august 21/2020; 51,084.609 oz (1.599 tonnes)

c) pledged gold at Scotia: 1.3234 tonnes or 42,548.308 oz which cannot be settled (1.3234 tonnes)

d) pledged gold at Manfra: DELETED MAY 26.2020

e) pledged gold at int.Del. DELETED: JULY 7.2020

f) pledged gold at Brinks: DELETED july 2 and july 21

g) pledged gold at Brinks: 611,401.341 oz added which cannot be settled: 19,017 tonnes

total weight of pledged: 1,111,079.092 oz or 34.55 tonnes

thus:

registered gold that can be used to settle upon: 14,983251.0 (466,04 tonnes)

true registered gold (total registered – pledged tonnes 14,983,251.0 (466.04 tonnes)

total registered, pledged and eligible (customer) gold; 37,144,350.197 oz 1,155.34 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold: 126.34 tonnes

total gold net of 4 GC: 1029,00 tonnes

end

I have compiled data with respect to registered (or dealer) gold taken on first day notice for each of the past 24 months

The data begins on first day notice for the May month taken on the last day of July 2018. and it continues to present day.

I then took, how many deliveries were recorded by the CME for each and every month. I also included for reference the price of gold on first day notice.

The first graph is a logarithmic graph and the second graph, linear.

You can see the huge explosion of registered gold at the comex along with deliveries.

THE DATA AND GRAPHS:

THE GOLD COMEX SEEMS TO BE UNDER SEVERE ASSAULT FOR PHYSICAL

END

AUGUST 31/2020

And now for the wild silver comex results

INITIAL STANDINGS

SEPT. SILVER COMEX CONTRACT MONTH//INITIAL STANDINGS

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	2,655,960.860 oz CNT Brinks Delaware Scotia
Deposits to the Dealer* Inventory*	4812,445.243 oz Brinks
Deposits to the Customer Inventory	566,095.500 oz CNT
No of oz served today (contracts)	6545 CONTRACT(S) (32,725,000 OZ)
No of oz to be served (notices)	4,003,000 contracts 20,015,000 oz)
Total monthly oz silver served (contracts)	6545 contracts 32,725,000 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 1 deposit into the dealer:

i) Into Brinks: 4,812,445.243.00 oz

total dealer deposits: 4812,445.243.000 oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 1 deposits into the customer account

i)into JPMorgan: 1,194,699.500 oz

ii) Into CNT: 566,095.500oz

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

JPMorgan now has 167.320 million oz of total silver inventory or 48.71% of all official comex silver. (167.320 million/342.247 million

total customer deposits today: 566,095.500 oz

we had 4 withdrawals:

i) Out of Delaware; 988.600 oz

ii) Out of CNT; 14,869.900 oz

iii) out of Brinks; 1,442,121.690 oz

iv) Out of Scotia: 1,197,980,670 oz

total withdrawals; 2,655,960.670 oz

We had 3 adjustments first two: dealer to customer

Loomis: 501,701.900 oz

and Manfra: 15,170.900 oz

and the 3rd customer to dealer: CNT

484,5989.800 oz customer to dealer.

Total dealer(registered) silver: 138.098 million oz

total registered and eligible silver: 344.970 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

the front month of SEPTEMBER registered an open interest of 10,548 contracts. Thus by definition, the initial amount of silver standing in this very active delivery month of September is as follows:

10,548 contracts x 5,000 oz per contract = 52,740,000 oz

this is a very strong delivery amount and it generally means that the comex is under full assault for both gold and silver.

Oct saw another gain of 102 contracts to stand at 672.

November is still at 0 notices filed

The big December contract month saw its OI rise by good 1983 contracts up to 140,834

The total number of notices filed today for the SEPT 2020. contract month is represented by 6545 contract(s) FOR 32,725,000, oz

To calculate the number of silver ounces that will stand for delivery in SEPT we take the total number of notices filed for the month so far at 6545 x 5,000 oz = 32,725,000 oz to which we add the difference between the open interest for the front month of SEPT(10,548) and the number of notices served upon today 6545 x (5000 oz) equals the number of ounces standing.

Thus the INITIAL standings for silver for the SEPT/2019 contract month: 10,548 (notices served so far) x 5000 oz + OI for front month of AUGUST (XX)- number of notices served upon today (6545) x 5000 oz of silver standing for the SEPT contract month.equals 52,740,000 oz. ..VERY STRONG FOR AN ACTIVE MONTH.

TODAY’S ESTIMATED SILVER VOLUME : 90,097 CONTRACTS // volume large

FOR YESTERDAY: 116,198. ,CONFIRMED VOLUME//volume large

YESTERDAY’S CONFIRMED VOLUME OF 116,198CONTRACTS EQUATES to 0.580 billion OZ 82.9% OF ANNUAL GLOBAL PRODUCTION OF SILVER..

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV FALLS TO- 2.36% ((AUGUST 31/2020)

2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.94% to NAV: (AUGUST 27/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.36%

(courtesy Sprott/GATA

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

NAV 20.93 TRADING 20.52///NEGATIVE 1.94

END

And now the Gold inventory at the GLD/

AUGUST 31//WITH GOLD UP $5.90 TODAY/WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD..//INVENTORY RESTS AT 1251.50 TONNES/

AUGUST 28/WITH GOLD UP $38.20 TODAY, WE SURPRISINGLY HAD A .59 TONNE WITHDRAWAL//INVENTORY RESTS AT 1251.50 TONNES

AUGUST 27/WITH GOLD DOWN 17.50 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 3.24 TONNES INTO THE GLD//INVENTORY REST AT 1252.09 TONNES

AUGUST 26/WITH GOLD UP $26.70 TODAY/ WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.53 TONNES FROM THE GLD//RESTS AT 1248.85 TONNES

AUGUST 25/WITH GOLD DOWN $14.60 TODAY, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD//RESTS AT 1252.38 TONNES

AUGUST 24//WITH GOLD DOWN $7.20 TODAY: WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1258.38 TONNES

AUGUST 21//WITH GOLD DOWN $.40 TODAY: WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1252.38 TONNES

AUGUST 20/WITH GOLD DOWN $23.45 TODAY: WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD: .//INVENTORY REST AT 1252.38 TONNES

AUGUST 19//WITH GOLD DOWN $39.65 TODAY: WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1252.38 TONNES

AUGUST 18/WITH GOLD UP $14.60 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY: A DEPOSIT OF 4.09 TONNES//GLD INVENTORY RESTS TONIGHT AT 1252.38 TONNES

AUGUST 17/WITH GOLD UP $46.30 TODAY: SURPRISINGLY WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A WITHDRAWAL OF 3.8 TONNES//INVENTORY RESTS AT 1248.29 TONNES

AUGUST 14/ WITH GOLD DOWN $19.45 TODAY: SURPRISINGLY, WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 1.46 TONNES/INVENTORY RESTS AT 1252.63 TONNES.

AUGUST 13/WITH GOLD UP $23.15 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY: SURPRISINGLY A PAPER WITHDRAWAL OF 7.30 TONNES/INVENTORY RESTS AT 1250.63 TONNES

AUGUST 12/ WITH GOLD UP $1.00 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A WITHDRAWAL OF 4.19 TONNES//INVENTORY RESTS AT 1257.93 TONNES

AUGUST 11//WITH GOLD DOWN $92.40 TODAY, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1262.12 TONNES.

AUGUST 10/WITH GOLD UP $11.35 TODAY, WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.84 TONNES//INVENTORY RESTS AT 1262.12 TONNES

AUGUST 7/WITH GOLD DOWN $38.30 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1267.96 TONNES

AUGUST 6/WITH GOLD UP $20.45 TODAY, WE HAVE ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A PAPER DEPOSIT OF 10.23 TONNES INTO THE GLD/INVENTORY RESTS AT 1267.96 TONNES//

AUGUST 5/WITH GOLD UP $ 33.75 TODAY, WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/A DEPOSIT OF 9.35 TONNES INTO THE GLD//INVENTORY RESTS AT 1257.73 TONNES

AUGUST 4//WITH GOLD UP $31.75 TODAY, WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 6.48 TONNES/GLD INVENTORY RESTS AT 1248.38 TONNES

AUGUST 3/WITH GOLD UP $2.20 TODAY, WE HAVE NO CHANGES IN THE GOLD INVENTORY AT THE GLD////INVENTORY RESTS AT 1241,96 TONNES

JULY 31/WITH GOLD UP $17.90 TODAY/WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD////INVENTORY RESTS AT 1241.96 TONNES.

JULY 30/WITH GOLD DOWN $10.00 TODAY, WE HAVE ANOTHER SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES//INVENTORY RESTS AT 1241.96 TONNES.

JULY 29//WITH GOLD UP $12.45 TODAY, WE HAVE ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A HUGE DEPOSIT OF 8.47 TONNES/INVENTORY RESTS AT 1243.12 TONNES

JULY 28///WITH GOLD UP $13.25 TODAY, WE HAVE ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A HUGE DEPOSIT OF 5.84 TONNES/INVENTORY RESTS AT 1234.65

JULY 27//WITH GOLD UP $35.30 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF XXX TONNES/INVENTORY RESTS AT 1228.81 TONNES

JULY 24/WITH GOLD UP $8.80 TODAY: WE HAVE ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.80 TONNES//INVENTORY RESTS AT 1228.81 TONNES

JULY 23/WITH GOLD UP $24.90 TODAY: WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 7.26 TONNES/INVENTORY RESTS AT 1225.01 TONNES

JULY 22/WITH GOLD UP $22.00 TODAY: WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/ A DEPOSIT OF 7.89 TONNES/INVENTORY RESTS AT 1219.75 TONNES

JULY 21//WITH GOLD UP $26.00 TODAY, WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.97 TONNES INTO THE GLD// INVENTORY RESTS AT 1211.86 TONNES

JULY 20/WITH GOLD UP $7.70 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1206.89 TONNES

JULY 17/WITH GOLD UP $7.70 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1206.89 TONNES

JULY 16/WITH GOLD DOWN $9.80 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD: INVENTORY RESTS AT 1206.89 TONNES

JULY 15//WITH GOLD UP $1.55 TODAY/A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 2.96 TONNES INTO THE GLD///INVENTORY RESTS AT 1206.89 TONNES

JULY 14//WITH GOLD DOWN $1.65 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/A DEPOSIT OF 3.51 TONNES/INVENTORY RESTS AT 1203.97 TONNES

JULY 13//WITH GOLD UP $12.50 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.36 TONNES INTO THE GLD//INVENTORY RESTS AT 1200.46 TONNES

JULY 10/WITH GOLD DOWN $.50 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD//A STRANGE WITHDRAWAL OF 1.75 TONNES FROM THE GLD//INVENTORY RESTS AT 1200.82 TONNES

JULY 9//WITH GOLD DOWN $11.75 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OX 3.21 TONNES INTO THE GLD//INVENTORY RESTS AT 1202.57 TONNES

JULY 8/WITH GOLD UP $13.75 TODAY; A BIG CHANGE IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF 7.89 TONNES INTO THE GLD//INVENTORY RESTS AT 1199.36 TONNES

JULY 7/WITH GOLD UP $12.50 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1191.47 TONNES

JULY 6/WITH GOLD UP $6.50 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 9.36 TONNES INTO THE GLD//INVENTORY RESTS AT 1191.47 TONNES

JULY 2/WITH GOLD UP $7.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.21 TONNES INTO THE GLD////INVENTORY RESTS AT 1182.11 TONNES

JULY 1/WITH GOLD DOWN $12.90//NO CHANGES IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1178.90 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at

AUGUST 31/ GLD INVENTORY 1251.50 tonnes*

LAST; 892 TRADING DAYS: +312.00 NET TONNES HAVE BEEN ADDED THE GLD

LAST 792 TRADING DAYS://+490.53 TONNES HAVE NOW BEEN ADDED INTO THE GLD INVENTORY.

end

Now the SLV Inventory/

AUGUST 31/WITH SILVER UP 80 CENTS TODAY: A HUGE CHANGE IN THE SLV//A DEPOSIT OF 2.982 MILLION OZ ENTERS THE SLV/INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 28/WITH SILVER UP 48 CENTS TODAY: A MASSIVE PAPER DEPOSIT OF 4.652 MILLION OZ ENTERS THE SLV//INVENTORY RESTS AT 571.071 MILLION OZ

AUGUST 27/WITH SILVER DOWN 28 CENTS TODAY// NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 566.419 MILLION OZ

AUGUST 26//WITH SILVER UP $1.04 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.65 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 566.419 MILLION OZ..

AUGUST 25/WITH SILVER DOWN 21 CENTS: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.607 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 571.074 MILLION OZ//

AUGUST 24//WITH SILVER DOWN 18 CENTS TODAY: WE HAD A NO CHANGES//INVENTORY RESTS AT 573.843 MILLION OZ//

AUGUST 21//WITH SILVER DOWN 30 CENTS TODAY: WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF.838 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 573.843 MILLION OZ..

AUGUST 20/WITH SILVER DOWN $.26 TODAY: WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF 3.724 MILLION OZ FROM THE SLV..//INVENTORY REST AT 572.843 MILLION OZ

AUGUST 18/WITH SILVER UP $.44 TODAY: WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 2.514 MILLION OZ//THE SLV INVENTORY RESTS TONIGHT AT 576.567 MILLION OZ//

AUGUST 17/WITH SILVER UP $1.27 TODAY: WE HAD NO CHANGES IN SILVER INVENTORY: //INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 14/WITH SILVER DOWN $1.31 TODAY, WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 6.984 MILLION OZ// //INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 13//WITH SILVER UP $1.76 TODAY: WE HAVE TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV//A PAPER DEPOSIT OF 2.421 MILLION OZ INTO THE SLV AT 2 PM AND ANOTHER DEPOSIT OF 6.984 MILLION OZ AT 5 20 PM/INVENTORY RESTS AT 581.037 MILLION OZ//

AUGUST 12/WITH SILVER DOWN 40 CENTS TODAY: WE HAVE ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF XX MILLION OZ//INVENTORY RESTS AT XX MILLION OZ/

AUGUST 11/WITH SILVER DOWN $3.25 CENTS, WE HAVE ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 2.41 MILLION OZ//INVENTORY RESTS AT 571.632 MILLION OZ//

AUGUST 10/WITH SILVER UP 1.89 TODAY, WE HAVE ANOTHER HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF 3.538 MILLION OZ/INVENTORY RESTS AT 569.491 MILLION OZ//

AUGUST 7/WITH SILVER DOWN 69 CENTS TODAY: WE HAVE ANOTHER HUGE CHANGE IN SILVER INVENTORY: A DEPOSIT OF 0.465 MILLION OZ/INVENTORY RESTS AT 573.029 MILLION OZ.

AUGUST 6/WITH SILVER UP $1.52 TODAY, WE HAVE NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 572.564 MILLION OZ///

AUGUST 5/WITH SILVER UP $1.03 TODAY, WE HAVE A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A MONSTROUS DEPOSIT OF 5.403 MILLION OZ//INVENTORY RESTS AT 572.564 MILLION OZ//

AUGUST 4/WITH SILVER UP $1.45 TODAY, WE HAVE NO CHANGES IN SILVER INVENTORY: //INVENTORY RESTS AT 367.161 MILLION OZ//

AUGUST 3/WITH SILVER UP 23 CENTS TODAY: WE HAVE A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//SURPRISINGLY ANOTHER WITHDRAWAL OF 0.931 MILLION OZ//INVENTORY RESTS AT 367.161 MILLION OZ//

JULY 31/WITH SILVER UP 82 CENTS TODAY: WE HAVE A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: SURPRISINGLY A HUGE WITHDRAWAL OF 3.26 MILLION OZ//INVENTORY RESTS AT 368.092 MILLION OZ//

JULY 30//WITH SILVER DOWN 97 CENTS TODAY: WE HAVE A SMALL CHANGE IN SILVER INVENTORY: A WITHDRAWAL OF 0.931 MILLION OZ//INVENTORY RESTS AT 571.352 MILLION OZ//

JULY 29/WITH SILVER UP 7 CENTS TODAY, WE HAD A BIG CHANGE IN SILVER INVENTORY//A DEPOSIT OF 5.984 MILLION OZ//INVENTORY RESTS AT 572.283 MILLION OZ//

JULY 28 WITH SILVER DOWN 14 CENTS TODAY, WE HAD A BIG CHANGE IN SILVER INVENTORY: A DEPOSIT OF 7.52 MILLION OZ//INVENTORY RESTS AT 566.299 MILLION OZ//

JULY 27/WITH SILVER UP $2.67 TODAY, WE HAD NO CHANGES IN SILVER INVENTORY: A DEPOSIT OF XX MILLION OZ//INVENTORY RESTS AT 558.779 MILLION OZ//

JULY 24/WITH SILVER DOWN $0.12 TODAY: NO CHANGE IN SILVER INVENTORY//INVENTORY RESTS AT 558.779 MILLION OZ/

JULY 23/WITH SILVER UP $.04 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A HUMONGOUS PAPER DEPOSIT OF 9.594 MILLION OZ//INVENTORY RESTS AT 558.779 MILLION OZ///

JULY 22/WITH SILVER UP $1.54 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A HUMONGOUS PAPER DEPOSIT OF 7.218 MILLION OZ//INVENTORY RESTS AT 549.185 MILLION OZ/

JULY 21/WITH SILVER UP $1.38 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A HUMONGOUS PAPER DEPOSIT OF 15.368 MILLION OZ////INVENTORY RESTS AT 541.967 MILLION OZ//

JULY 20/WITH SILVER UP 40 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A MASSIVE PAPER DEPOSIT OF 3.819 MILLION OZ ‘ENTERED” THE SLV..INVENTORY RESTS AT 526.599 MILLION OZ/

JULY 17/WITH SILVER UP 15 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 1.583 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 522.780 MILLION OZ//

JULY 16//WITH SILVER DOWN 14 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.123 MILLION OZ//INVENTORY RESTS AT 521.197 MILLION OZ..

JULY 15.WITH SILVER UP 21 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.956 MILLION OZ//INVENTORY RESTS AT 516.074 MILLION OZ//

JULY 14/WITH SILVER DOWN 21 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 514.118 MILLION OZ//

JULY 13//WITH SILVER UP 67 CENTS TODAY: A HUGE CHANGE IN SILVER: A WITHDRAWAL OF 1.677 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 514.118 MILLION OZ//

JULY 10/WITH SILVER UP 7 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 4.844 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 515.795 MILLION OZ

WHAT A FRAUD!!

JULY 9/WITH SILVER DOWN 8 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 8.198 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 510.951 MILLION OZ/

JULY 8/WITH SILVER UP 37 CENTS TODAY//A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.118 MILLION OZ FROM THE SLV//VERY SURPRISING.//INVENTORY RESTS AT 502.753 MILLION OZ//

JULY 7/WITH SILVER UP 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:/INVENTORY RESTS AT 503.871 MILLION OZ///

JULY 6//WITH SILVER UP 24 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.863 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 503.871 MILLION OZ

JULY 2/WITH SILVER UP 4 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//: A DEPOSIT OF 4.01 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 502.008 MILLION OZ

JULY 1/WITH SILVER DOWN 23 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE DEPOSIT OF 5.403 MILLION OZ//INVENTORY RESTS AT 498.007 MILLION OZ/

AUGUST 31.2020:

SLV INVENTORY RESTS TONIGHT AT

574.053 MILLION OZ

PHYSICAL GOLD/SILVER STORIES
i) GOLDCORE BLOG/Mark O’Byrne

Gold Rebounds on Weak Dollar With Investors Weighing Fed Policy

31, August

(Bloomberg) — Gold climbed, recovering from Thursday’s drop, as the dollar sank with investors weighing the impact of the Federal Reserve’s new approach to setting U.S. monetary policy.

The metal rose the most in almost two weeks and the dollar touched a two-year low a day after Fed Chair Jerome Powell said the central bank will seek inflation that averages 2% over time. His comments sent bullion on a roller-coaster ride in the previous session, as he signaled the central bank will stay accommodative for longer, with a more tolerant approach on inflation, but won’t hesitate to act if consumer prices rise considerably above its goals.

Gold strengthened Friday due to “a more measured appraisal of the shift in Fed nuances, along with a weakening dollar, for the same reason,” Rhona O’Connell, head of market analysis for EMEA and Asia regions at StoneX Group, said in an emailed note.

Higher inflation tolerance and low interest rates should see U.S. real yields fall in the medium-to-longer term, which is supportive for gold, said Vivek Dhar, an analyst at Commonwealth Bank of Australia. Still, the fact that the Fed will also act if there are inflationary pressures adds doubt to how high U.S. 10-year inflation expectations can reach, he said.

Spot gold jumped 1.8% to $1,963.41 an ounce by 1:57 p.m. in New York, heading for its first weekly gain in three weeks. The metal is down more than $100 from a record set earlier this month as risk-on sentiment improved, but it is still one of the best-performing commodities this year after the coronavirus crisis and massive stimulus measures boosted demand for havens. Gold futures for December delivery rose 2.2% to settle at $1,974.90.

The Bloomberg Dollar Spot Index dropped 0.9% to the lowest since May 2018, while U.S. equities rose. Economic confidence in the euro area continued to improve in August, data on Friday showed, but job cuts in recent months across the continent meant consumers remain worried about the labor market. In the U.S., the rebound in consumer spending slowed in July as virus cases rose in some states.

The Fed’s shift to let inflation and employment run higher may signal that policy makers will keep interest rates low for years to come, lifting the appeal of non-interest-bearing gold. There’s still room for bullion to set new all-time highs, although that may take time, said Ole Hansen, head of commodity strategy at Saxo Bank A/S.

Powell’s “speech did not threaten the bullish narrative for gold and silver,” Hansen said. “Low interest rates for longer, a weaker dollar, massive amounts of stimulus and the increased demand for inflation hedges are likely to continue to drive demand for both metals.”

The biggest risk to gold remains the discovery of a vaccine and a sharp correction in stocks, which would spark a drive to raise cash, he said.

NEWS and COMMENTARY

The Fed’s new policy may have just ushered in a new era of uncertainty on Wall Street

Why Warren Buffett now likes gold

Silver Could Pass Its All-Time High

Ohio Pension Fund Adds Gold Allocation to Hedge Risk, Inflation

World’s Richest People Smashed Wealth Records This Week (Musk $100B, Bezos world’s first $200 billion man)

GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

28-Aug-20 1955.85 1957.35 1471.97 1472.91 1642.72 1647.31
27-Aug-20 1938.80 1923.85 1467.87 1458.86 1638.87 1632.39
26-Aug-20 1918.50 1932.95 1458.83 1465.95 1624.39 1636.05
25-Aug-20 1925.45 1911.15 1468.35 1455.15 1626.43 1616.26
24-Aug-20 1947.55 1943.95 1484.03 1485.57 1646.26 1643.61
21-Aug-20 1932.85 1924.35 1465.87 1470.20 1635.58 1637.04
20-Aug-20 1928.05 1927.15 1471.68 1469.84 1630.55 1629.60
19-Aug-20 1993.15 1981.00 1504.23 1498.63 1668.47 1658.30
18-Aug-20 2005.15 2008.75 1522.51 1517.61 1684.53 1680.52
17-Aug-20 1949.85 1972.85 1488.13 1505.68 1645.87 1661.53

Access Latest Goldnomics Podcast (Part II) Here

Own gold and silver coins and bars in the safest vaults in Zurich, Singapore, London and Dublin with GoldCore.

Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here

Mark O’Byrne

Executive Director

ii) Important gold commentaries courtesy of GATA/Chris Powell

Your big story of the day: the Ohio police and firefighter pension fund now allocates 5% to gold.. Our only hope is that they use physical gold and not the phony GLD.

zero hedge/Ohio Police and Fire Pension fund

Ohio police and firefighter pension fund to allocate 5% to gold

Submitted by cpowell on Sun, 2020-08-30 15:48. Section: Daily Dispatches

Will they flush it down the toilet in GLD or purchase real metal?

* * *

New Asset Class Approved as First Step in Asset Allocation Review

From the Ohio Police & Fire Pension Fund
Columbus, Ohio
Friday, August 28, 2020

https://www.op-f.org/information/opfnews/opf-investment-notes-august-202…

OP&F general investment consultant Wilshire Associates began an asset allocation review and presentation to the board during the Aug. 26 meeting. The comprehensive review has not concluded but the board did approve one change to the portfolio, adding a 5-percent allocation to gold.

The approval allowed OP&F investment staff and Wilshire to explore how to best implement the strategy. No new manager will be hired and there is no timeline for implementation at this time. To allow for the additional 5-percent allocation, the board also approved increasing the current leverage amount on the total portfolio from 20 percent to 25 percent.

OP&F and Wilshire believe that the addition of gold will give the portfolio a strong diversifier to its growth-oriented investments as well as provide an effective hedge against inflation.

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 14-17, 2020

https://neworleansconference.com/online-registration/

END

What would happen if the environmentalists would outlaw gold mining

Lots of fun..

(JPKoning)

Outlaw gold mining? Imperialists and totalitarians would love that

Submitted by cpowell on Sun, 2020-08-30 16:41. Section: Daily Dispatches

12:55p ET Sunday, August 30, 2020

Dear Friend of GATA and Gold:

Because of gold mining’s environmental costs, financial writer JP Koning mused the other day, outlawing it “makes a lot of sense,” at least “in theory.”

https://jpkoning.blogspot.com/2020/08/the-case-for-banning-gold-mining.h…

Koning argues that plenty of the monetary metal is already available and since it is used largely for conserving wealth, the current supply will always be adequate for that with higher prices. (He adds that he would argue differently if the world returned to a gold standard.)

…

Koning acknowledges that outlawing gold mining would cause some environmental damage as well, as more gold mining would be done by unregulated wildcatters. Outlawing gold mining would also eliminate much employment, Koning concedes.

Your secretary/treasurer would add some other negative consequences to the idea, foremost among them that prohibiting gold mining would reduce the world’s access to an independent form of money, money that governments strive to control and oppress. Owning such a large share of what already has been mined, central banks already have unfair influence on gold’s price, and eliminating new supply would increase their power even as they already run the world most undemocratically.

Without both the mining of gold and its use as independent money, poor but resource-rich developing countries will always have to use the money of the developed world and will remain poor and exploited by the developed world’s imperialism.

Gold mining provides developing countries access to their own world reserve currency. But outlawing gold mining will give even more financial advantage to those who already have the monetary metal, disproportionately rich countries and rich people. A rising price of gold does little for people who don’t already own it or can’t extract it under their own sovereignty.

As for environmental damage, the wider the world’s access to gold as an independent reserve currency, the harder it is for governments to inflate their currencies to finance wars, which do far more environmental and human damage than gold mining, and the harder it is for governments to be totalitarian. After all, the first thing war-mongering and totalitarian governments do is to confiscate gold and forbid its use as money.

But a rising gold price will facilitate remediation of the environmental damage done by mining. With gold mining more profitable, miners will be less pressed to take the metal out of the ground and run away from the mess they’ve made.

Gold’s great value is as a mechanism for preserving individual freedom and restraining government. Outlawing gold mining would make imperialists and totalitarians very happy, and they already are having too much fun.

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

END

Are we moving to a new multi reserve currency system, and one that includes gold

(Jan Nieuwenhuijs)

Jan Nieuwenhuijs: Toward a multi-reserve currency system

Submitted by cpowell on Sun, 2020-08-30 17:13. Section: Daily Dispatches

1:12p ET Sunday, August 30, 2020

Dear Friend of GATA and Gold:

Voima Gold researcher Jan Nieuwenhuijs, whose research has persuaded him that central banks are moving the world toward a new financial system that incorporates gold, today interviews former Finnish central banker Pentti Pikkarainen about that prospect. Pikkarainen doesn’t go quite that far but contends that the future is likely to bring a financial system with multiple reserve currencies.

Nieuwenhuijs’ interview with Pikkarainen is headlined “Heading Toward a Multi-Reserve Currency System” and it’s posted at Voima Gold here:

https://www.voimagold.com/insight/heading-towards-multi-reserve-currency…

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

END

iii) Other physical stories:

$16 Billion Ohio Police & Fire Pension Fund Approves A 5% Allocation For Gold

Ohio’s $16 billion Police & Fire Pension Fund is following in the steps of Warren Buffett and making a big statement about owning gold. It has approved a 5% allocation to gold to help diversify the fund’s portfolio and to “hedge against the risk of inflation” according to Bloomberg.

The change was approved as “the first step” in an ongoing asset review that was presented to the fund’s board on August 26.

The fund was following the advice of its investment consultant, Wilshire Assocaites, in adding the gold allocation, according to Pensions & Investments. Additionally, the fund plans on adding the gold stake by borrowing; the fund is reportedly increasing its leverage from 20% to 25% to make the change.

“No new manager has been selected, and there currently is no timeline for implementing this change,” P&I reported.

Buffett’s move into gold has opened the door for fund managers to follow suit. Except, instead of playing in a hundred trillion dollar equity market, they are dealing with barely over $1 trillion in investable gold. This means that if the fund becomes a trend setter in the industry and if others follow suit, look out above.

Peter Schiff said on a recent podcast: “Warren Buffett seems to have a very good understanding of inflation. He doesn’t regard it as rising prices, he regards it as money supply. He’s talked about inflation as a hidden tax on savers. As a cruel tax. He understands the loss of value of money. He basically says that that’s inflation: the erosion of purchasing power of money. I think Buffett now has a much darker outlook on inflation than he did in the past.”

“Buffett is now of the opinion that inflation is going to be so high that gold is going to be particularly important to own, rather than just owning businesses,” he says.

You can listen to Schiff’s comments here:

If the inflation message starts to become clear to pension funds and main street asset managers, we could see a major sea change in psychology regarding gold as an investment.

Additionally, Rick Rule recently commented about exactly how under-owned gold was in the U.S.: “A major bank study, which I read, and I’ve quoted it before in interviews with you, says that between 0.3%-0.5% of savings and investment assets in the United States involve precious metals or precious metals securities.”

He continued: “That may have gone up because the denominator has declined the value, the Dow is an example, but the three decade-long mean was between 1.5%-2%. So gold is still very broadly under-owned, and I would suggest it’s even under-owned among people who are listening to this broadcast.”

Will Comex Quiver Again?

Posted August 31st, 2020 at 9:22 AM (CST) by J. Johnson & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

Gold started the Sunday session in the positive, now that’s not the case because of the London Bop with Gold at $1,974, down 90 cents after reaching as low as $1,964.30 with the high to beat at $1,985.80. Silver is staying strong with the trade up 45.5 cents at $28.245 after the low was made at $27.79 with the high to beat at $28.465. The US Dollar’s value is now pegged at 92.23, down 14.9 points in between a high at 92.49 and the 92.135 low. Of course, all this happened before 5 am pst, the Comex open, the London close, and after a weekend of media induced hype trying to stir attention away from future Federal Reserve appointee Judy Shelton, after the Fed did it’s hole-thing, and after Judy posted this on her Twitter Feed last night.

We see nothing but positive in our precious metals verses all fiats, with the Venezuelan Bolivar adding 49.94 more value to Gold’s price with the last quote at 19,715.33, with Silver’s price now pegged at 282.097 Bolivar, it too gaining 4.145. Argentina’s Peso price for Gold is now at 145,951.39 providing a gain of 439.43 A-Peso’s with Silver gaining 32.04 with the last quote at 2,088.69 Peso’s. Turkey’s Lira price for Gold is now at 14,508.44 giving the holder an additional 119.96 Lira’s per ounce with Silver gaining another 4.286 T-Lira with the last price at 28.245.

Today is First Notice Day for the September Deliveries with the starting count for Silver at 10,548. These positions now require 100% margin for those that need product in size with this morning’s Volume at 346 and with a trading range between $28.27 and $27.72 with the last buy at $28.115, up 50.5 cents. Silver’s Overall Open Interest continues to prove the unwillingness to stay short as another 1,792 positions jumped the sinking ship leaving 168,619 Overnighters to go against the physicals. After all, 10,548 contracts only stand for 52,740,000-ounces of the real stuff. That shouldn’t be too bothersome for the Comex with their additional smelters, should it?

September Gold’s Delivery requests now has a post of 3,070 fully paid for 100-ounce contracts that now have the required 100% margin with a trading range between $1,970 and 1,953.30 with the last swap at 1,960.70 down $3.90 and with a Volume of 20 already up on the board. The shorts in Gold are still floundering around with the count losing 684 positions over the weekend, leaving 548,384 Overnighters to trade against the physicals as we wait for more cash to be printed and more articles to be posted by Judy as the Federal Reserve attempts to keep her away from their data, and the microphone. Will these deliveries cause another price quiver at the Comex? Let us wait, because it shouldn’t take too long at all to see it again!

The Ohio Police & Fire Pension Fund is now allocating an additional 5% of their cash to Gold, adding to their 20% holdings, and since last month’s new life of contract high, as we expect much higher prices in the future, as things unwind because of what China did, and what a certain party is doing by blaming the president instead of taking the responsibility and protecting those that abide by laws in their own areas they tax and govern.

Also, up on the news board is the claim that more data is about to be released going into the faked Steele dossier story and those who intentionally leaked false data to the press, so they too can get in on the lie. It was mentioned in a Sunday Night interview with John Ratcliffe, the Director of National Intelligence; “When I becomeaware of intelligence community information that is disclosed unlawfully, I do what’s called a crimes report. I’ve done that now on a number of occasions, and so those investigations are moving forward.” The leaks were “for political purposes” to create what he said is a false narrative “that somehow Russia is a greater national security threat than China.”

The new life of contract high in Gold means that things are starting to unwind again. Leaving Silver behind, helps prove that the great unwind has yet to be started, and the great reset may be just ahead. When we start to see new life of contract highs, in both precious metals, at the same time, maybe then, we’ll start to see some real fall-out caused by the printers who cannot do anything else but print and give to their friends, and lie to everyone else, with Judy Shelton being the biggest threat the printers have. So, keep things real, in hand, buy more physicals if you can, and as always …

Stay Strong!

Jeremiah Johnson

JeremiahJohnson@cableone.net

end

Eric Sprott Calls The CFTC “A Loser Organization”

Last week during his weekly call with Craig Hemke, Eric Sprott called the CFTC “a loser organization,” based on how they have overlooked evidence and allowed investors to suffer incalculable losses.

And given how the organization keeps having a chance to do the right thing, yet finds ways to seemingly do the opposite, perhaps Sprott’s title for the agency is well deserved.

To find out for yourself, click to watch the video now!

Chris Marcus
August 31, 2020

end

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.

Dawn Giel | Dan Mangan

Published 3:33 PM ET Tue, 20 Nov 2018 Updated 10:32 AM ET Wed, 21 Nov 2018CNBC.com

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.

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

Submitted by cpowell on Tue, 2019-03-05 14:40. Section: Daily Dispatches

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

* * *

Your early MONDAY 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: 6.8432/

//OFFSHORE YUAN: 6.8456 /shanghai bourse CLOSED DOWN 8.13 POINTS OR 0.24%

HANG SANG CLOSED DOWN 245.01 POINTS OR 0.96%

2. Nikkei closed UP 257.11 POINTS OR 1.12%

3. Europe stocks OPENED ALL MIXED/

USA dollar index DOWN TO 92.21/Euro FALLS TO 1.1219

3b Japan 10 year bond yield: RISES TO. +.05/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 105.95/ 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:: 43.46 and Brent: 46.40

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

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 -.40%/Italian 10 yr bond yield UP to 1.06% /SPAIN 10 YR BOND YIELD UP TO 0.40%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.46: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.09

3k Gold at $1967.40 silver at: 27.99 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 10/100 in roubles/dollar) 72.98

3m oil into the 43 dollar handle for WTI and 46 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 105.95 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 .9023 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0768 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 –0.40%

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 0.736% early this morning. Thirty year rate at 1.52%

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

6. TURKISH LIRA: UP TO 7.35..

S&P Set To Open At New Record High; Tesla, Apple Trade Post-Split

The melt-up continues: S&P futures rose on Monday for the eighth session in a row alongside European markets, after setting fresh all time highs on Friday amid continued bets on prolonged central bank support, setting the benchmark S&P 500 for its best August in over three decades.

The three main US indexes are set for their fift

h straight monthly rise following this year’s March lows, with the S&P 500 looking at its biggest percentage rise in August since 1984, even as economic data pointed to an uneven recovery from the steep downturn. Among early movers, Aimmune Therapeutics more than doubled premarket after Swiss food group Nestle offered to pay $2 billion for full ownership of the peanut allergy treatment maker to expand its fast-growing health science business.

Apple gained 1.5% to $126.64…

while Tesla initially spiked to a new all time high, rising to $470 before reversing, as both stocks became less costly after their pre-announced stock splits took effect.

Shares of the Cupertino company, which have rallied nearly 30% since it announced its surprise 4-for-1 stock split and blockbuster quarterly results on July 30, were priced at $126.56, up 1.4% when compared to Friday’s split-adjusted close, in pre-market trade. It will be Apple’s latest stock split since a 7-for-1 move in 2014 and its fifth since going public in 1980. Apple shares closed at $499.23 before the split on Friday, up 70% this year, a rally which helped the iPhone maker overtake Saudi Aramco as the world’s most valuable publicly listed company and become the first publicly listed U.S. company to breach $2 trillion in market capitalization.

Tesla followed suit earlier this month by announcing a 5-for-1 split to portion its richly valued stock into smaller chunks, which also takes effect on Monday. Tesla’s stock has surged more than five-fold this year, while shares of General Motors and Ford Motor declined on fallout from the COVID-19 pandemic. Shares of Tesla, up 61% since it announced what is its first stock split in mid-August, closed at $2,213.4 on Friday. They were priced up 2.33% at $453 when counted at their post-split value in pre-market on Monday.

The unprecedented surges driven entirely by stock split news have stunned market watchers because while in theory no new value was created, the fact that “more” retail daytraders can now purchase the stocks was seen as a catalyst to push them higher, even though online brokerages Robinhood, Charles Schwab Corp and Fidelity, along with several smaller shops, have begun offering slices of individual shares.

In Europe, the Stoxx Europe 600 Index rose 0.5% as of 10:30 a.m. in London, with automakers and energy shares advancing the most among sectors. Mining shares also outperformed along with utilities including Suez SA, which jumped after an approach by rival Veolia Environnement SA. The Stoxx Europe 600 Oil & Gas Index gained as much as 1.5% to lead gains among sectors as the price of Brent crude price climbed to the highest since early March with traders focusing on demand recovery. European energy gauge extends gain in Aug. to 5.7%, after retreating 5.4% in July. London markets are closed for a public holiday

Earlier in the session, Asian stocks fell, led by communications and IT, after rising in the last session. Japanese stocks outperformed peers in Asia, the Topix Index gaining 0.8%, bolstered by Berkshire Hathaway’s purchase of stakes in five major trading companies in one of billionaire Warren Buffett’s biggest investments in the nation. Aside for Japan, most markets in the region were down, with Jakarta Composite dropping 2% and India’s S&P BSE Sensex Index falling 1.6%. Trading volume for MSCI Asia Pacific Index members was 22% above the monthly average for this time of the day. The Topix gained 0.8%, with Artra and Segue rising the most. The Shanghai Composite Index retreated 0.2%, with Zoy Home Furnishing and Tibet Tourism posting the biggest slides.

Chinese economic activity continued to rebound in August as the world’s second- largest economy emerges from the virus slump. The August Manufacturing PMI from the National Bureau of Statistics (NBS) signaled a continued recovery in overall activity. The NBS manufacturing PMI stayed solid at 51.0 in August (despite being 0.1pp lower than July). The NBS non-manufacturing PMI rose in August as the services PMI climbed to the highest level since early 2018. The construction PMI was modestly lower but remained strong in absolute terms.

China official NBS manufacturing PMI: 51.0 in August (GS forecast: 51.1, Bloomberg consensus: 51.2), vs. 51.1 in July.
Official non-manufacturing PMI: 55.2 in August, vs. 54.2 in July.

The Chinese PMI data gave investors some renewed comfort in the global economy’s reemergence from virus shutdowns. The eurozone on Tuesday publishes manufacturing and inflation data, followed by U.S. jobs numbers on Thursday and Friday. Inflation readingsfrom Spain, Italy and several German states are well below where the region’s central bank wants them to be.Still, with coronavirus infections in the U.S. ticking up again, India becoming the world’s epicenter for new cases, and the worldwide total surpassing 25 million, the pandemic is far from beaten.

“While momentum has slowed in light of rising cases, in the U.S. in July and in Europe in August, the economic recovery continues to unfold,” Esty Dwek, head of global market strategy at Natixis Investment Managers Solutions, said in a note. “Central banks have already stated they would remain ultra-accommodative for a long time. Risk assets are likely to remain supported, even if the ride will probably be bumpy.”

In FX, the Bloomberg dollar index edged up with U.S. equity futures while Treasuries steadied amid month-end positioning. The pound weakened versus the euro after a news report said U.K. Treasury officials are pushing for significant tax increases. The country’s stock and bond markets are closed for a public holiday. The yen gave back some of Friday’s gain, the biggest in five months, as Japan searched for a new prime minister following Abe’s surprising resignation.

In rates, treasury futures were lower on anemic volume with U.K. on holiday, leaving yields cheaper by less than 2bp across the curve. Month-end flows may provide support, while no U.S. coupon auctions this week puts data in focus, especially ISM manufacturing Tuesday and August jobs report Friday. 10-year yields around 0.74%, cheaper by 1.6bp vs Friday’s close with 2s10s and 5s30s steeper by ~1bp; 5s30s at 124bp is within 5bp of its June 5 YTD high; stock futures remain higher, off best levels of the day. Long end may begin to find support from the approach of month-end index rebalancing that’s been inflated by growth in issuance, at 3pm ET.

In commodities, West Texas crude oil advanced above $43 a barrel, while Brent jumped 3% to $46.33, the highest price since the March crash. Silver rose, outperforming gold.

U.S. presidential campaigns are set to take center-stage in the coming weeks with market volatility expected to spike ahead of polling in November. At 1030am ET we get the Dallas Fed Mfg Activity (est. 0, prior -3), while Catalent and Zoom Video are reporting earnings.

Market Snapshot

S&P 500 futures up 0.4% to 3,516.75
MXAP down 0.7% to 172.93
MXAPJ down 1.2% to 571.92
Nikkei up 1.1% to 23,139.76
Topix up 0.8% to 1,618.18
Hang Seng Index down 1% to 25,177.05
Shanghai Composite down 0.2% to 3,395.68
Sensex down 1.8% to 38,757.94
Australia S&P/ASX 200 down 0.2% to 6,060.46
Kospi down 1.2% to 2,326.17
STOXX Europe 600 up 0.6% to 371.09
German 10Y yield rose 1.5 bps to -0.394%
Euro down 0.1% to $1.1886
Italian 10Y yield rose 2.4 bps to 0.918%
Spanish 10Y yield rose 1.4 bps to 0.393%
Brent futures up 1.4% to $46.44/bbl
Gold spot down 0.3% to $1,958.42
U.S. Dollar Index little changed at 92.37

Top Overnight News

There isn’t any urgency for the Federal Reserve to offer more clarity on how long it will hold interest rates near zero at the moment because investors already understand the central bank won’t be tightening for a while, Minneapolis Fed President Neel Kashkari said
Figures from Italy’s statistics office, Istat, showed that the nation’s economy shrank 12.8% in the second quarter; household spending fell 11.3% in the second quarter, and exports dropped 26.4%
India is fast becoming the world’s new virus epicenter, setting a record for the biggest single-day rise in cases as experts predict that it’ll soon pass Brazil — and ultimately the U.S. — as the worst outbreak globally
Chinese economic activity continued to rebound in August, with a gauge of the services industry at the strongest level since early 2018 while the expansion in manufacturing activity slowed slightly

A quick look around global markets courtesy of NewsSquawk:

Asian equity markets were mostly higher amid tailwinds from last Friday’s gains on Wall St where the S&P 500 extended on record highs and is on course for its best August performance in more than 3 decades, helped by the recent big-tech surge and dovish undertones from last week’s Jackson Hole Symposium. ASX 200 (-0.2%) and Nikkei 225 (+1.1%) were both positive but with gains in Australia’s benchmark capped by mixed fortunes among the mining names and varied data releases, while sentiment in Tokyo was buoyed after stronger than expected Industrial Production which showed the largest M/M increase on record and on hopes of political continuity after reports that staunch Abe loyalist and current Chief Cabinet Secretary Suga is to run in the LDP elections to succeed PM Abe. Furthermore, the biggest gainers in Japan have been the largest general trading companies after Berkshire Hathaway acquired at least a 5% stake in the industry leaders including Itochu Corp. (8001 JT), Marubeni Corp. (8002 JT), Mitsui & Co. (8031 JT), Mitsubishi Corp. (8058 JT) and Sumitomo Corp. (8053 JT). Hang Seng (-1.0%) and Shanghai Comp. (-0.2%) also conformed to the upbeat tone despite mixed PMI data in which headline Manufacturing PMI missed expectations although remained in expansionary territory, while Non-Manufacturing PMI was the highest since January 2018 and Composite PMI also improved. There was a slew of earnings from China including the Big 4 banks which all showed weaker profits and China’s largest oil company Sinopec posted its first loss since 2003, although the weaker results failed to dent the risk appetite with the relevant companies all sitting on respectable gains, while concerns regarding the sale of TikTok after China tightened tech export rules were also brushed aside. Finally, 10yr JGBs were initially lacklustre and briefly slipped below 151.50 with demand for bonds subdued by the heightened risk appetite in Japan, although downside was later reversed amid the BoJ presence in the market for JPY 870bln of JGBs predominantly focused on 1yr-5yr maturities.

Top Asian News

China’s Economic Recovery Continues on Strong Services
Reliance Buys Future Assets for $3.4 Billion; Bonds Jump
Israel’s El Al Pilot Says UAE Flight to Pass Over Saudi Arabia
Credit Suisse Plans to Double China Headcount in Five Years

European stocks kick the week off on a firm footing (Euro Stoxx 50 +0.3%) but have drifted off of opening highs heading into month end, as the region coattails on the lead from Wall Street on Friday; while, initially at least, brushing off the overall downbeat APAC performance. Note, UK markets remain closed on account of Summer Bank Holiday. Sectors trade modestly higher across the board with a mild cyclical/value bias; utilities are the marked outperformer on the back of Suez (+18.8%) after Veolia (+3.4%) is offering to purchase ~30% of the group from Engie (+6.3%) for EUR 15.50/shr, amid speculation, since confirmed, that such a move would be a precursor to launching a takeover bid. Other notable movers include Sanofi (+0.3%), whose CEO noted that recent data has increased confidence in the success of the group’s two COVID-19 vaccine candidates. Nestle (+0.7%) is higher after stating it is to purchase Aimmune for USD 34.50/shr totaling USD 2.6bln, with the deal expected to close in Q4. On the other end of the spectrum, Natixis (-2.0%) is pressured as its H20 asset management arm is to temporarily suspend some of its funds, albeit this is not set to have a financial impact on Natixis.

Top European News

Wirecard Inquiry Zooms In on Why Germany Missed Fraud of Century
Philips Cuts Outlook After U.S. Slashes Ventilator Contract
Regulator Tells H2O to Freeze Funds on Valuation Uncertainty
Italy Plunged Into Recession by Investment, Consumer Slump

In FX, it remains to be seen whether the Dollar succumbs to remaining month end selling and the usual 4 pm scramble to complete portfolio rebalancing requirements, but for now the Buck is clawing back lost ground and declines against the Yen in particular after Japanese PM Abe confirmed his departure last Friday. In fact, the Greenback on a firmer footing vs most G10 counterparts and the DXY has bounced from a 92.142 low to 92.480 at best awaiting comments from Fed’s Clarida and Bostic alongside the Dallas Fed manufacturing business index for any further opinion on the new flexible average inflation targeting regime.

JPY – Not quite zero from hero, but the Yen has retreated further from post-Abe peaks amidst reports that staunch supporter and current Cabinet Secretary Suga is in the running to become new LDP leader. Usd/Jpy is now nudging through 105.90 and also taking on board remarks from another challenger to takeover as PM, as Ishiba contends that there is no need to radically change Abenomics or monetary easing, adding that a weaker Yen is not preferable in his view.
GBP – The next weak major link, and perhaps the Pound is taking note of Brexit news and media speculation suggesting that the UK is prepared to walk away from negotiations with the EU if Brussels does not back down on its demand for alignment with state aid rules. Cable is struggling to keep hold of 1.3300, albeit with volumes lighter than normal due to the August Bank Holiday.
AUD/NZD/EUR – Also unwinding recent gains/outperformance vs the US Dollar as the Aussie fades ahead of 0.7400 in wake of mixed data (Q2 business inventories fell 3 times more than forecast, but company profits rebounded from -7.5% to +15%) and pre-RBA, while the Kiwi has stalled around 0.6750 following deteriorations in ANZ business sentiment and the activity outlook. Elsewhere, the Euro is straddling the 1.1900 handle amidst benign German state, Spanish and Italian national CPI data, but also wary of hefty option expiry interest at the strike in 1.5 bn.
CAD/CHF – The Loonie is bucking the broad trend and holding 1.3100+ status against the backdrop of firm crude prices and awaiting Canadian data in the form of building permits and ppi, while the Franc is meandering between 0.9050-25 after an acceleration in Swiss retail sales and not really hindered by latest increases in bank sight deposits.
SCANDI/EM – The aforementioned buoyancy in oil and no change in daily FX purchases by the Norges Bank for September appear to be underpinning the Nok, while the Try has derived some support from Turkish GDP defying expectations for a steeper contraction and the Cnh via another firmer PBoC Cny midpoint fix rather than somewhat mixed official Chinese PMIs.

In commodities, WTI Oct and Brent Nov futures continue grinding higher in early European trade as the benchmarks remain supported by overall sentiment. An uptick in prices coincided with source reports that UAE’s ADNOC are reportedly to cut October crude oil term supplies to Asia customers by 30% across all grades. In terms of Gulf of Mexico developments, BSEE estimates of shut in for Gulf of Mexico production at 69.76% vs. Prev. 82.13% following Hurricane Laura. Meanwhile, Goldman Sachs which anticipates Brent prices to reach USD 65/bbl by Q3 next year. WTI Oct has tested USD 43.50/bbl to the upside (vs. low USD 42.90/bbl), whilst Brent Nov is yet to convincingly breach USD 46.50/bbl after printing an overnight base at USD 45.80/bbl. Elsewhere, spot gold falls victim to the firming Dollar and trickles lower from overnight highs of USD 1976/oz closer towards USD 1950/oz. Spot silver conversely remains supported around the USD 27.75/oz area. In terms of base metals, Shanghai copper posted its fifth consecutive month of gains – with robust construction and infrastructure activities keeping the red metal buoyed.

US Event Calendar

9am: Fed Vice Chair Clarida Speaks on Monetary Policy Framework
10:30am: Dallas Fed Manf. Activity, est. 0, prior -3
10:30am: Fed’s Bostic Gives remarks to Florida Philanthropic Network

3A/ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT:

SHANGHAI CLOSED DOWN 8.13 POINTS OR 0.24% //Hang Sang CLOSED DOWN 245.01 POINTS OR 0.96% /The Nikkei closed UP 257.11 POINTS OR 1.12%//Australia’s all ordinaires CLOSED DOWN .24%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

China

Beijing is not planning on letting the uSA walk with Tik Tok: is this their attempt to meddle in the uSA election?

(zerohedge)

Is Beijing’s TikTok Sale Delay Their Latest Attempt To ‘Meddle’ In US Election?

Just a few days ago, the American business and political scene were transfixed by the unceasing stream of eyeball-poaching TikTok headlines: Oracle had joined the group of bidders. Then, Wal-Mart joined the fray. Then Wal-Mart – having apparently realized that running a Gen Z-focused, video-based social media platform might be outside its core competency – joined forces with Microsoft, becoming the newest front-runners in the race to a deal.

All this happened against a backdrop of increasing political turmoil, as TikTok’s American CEO, brought on to serve as a peacemaker to Washington, decided to quit after just 3 months on the job.

While Oracle’s rumored bid allegedly valued TikTok at $20 billion (in a mix of cash and stock), Microsoft & Wal-Mart were reportedly willing to pay $30 billion. The bids were supposed to have been submitted – with some last-minute players (including a group led by Centricus Asset Management Ltd. reportedly did some sniffing around) reportedly opting against making an offer (another investment group from Silicon Valley that included General Atlantic partners and some other early ByteDance investors also ended up on the list of also-rans) – by the end of the week. TikTok was supposed to have picked an offer to move forward – according to at least one report – within 48 hours.

That was three days ago.

Now, instead of a deal, it looks like they’re facing another roadblock. And with it, the latest – but not the first – hint that Beijing isn’t planning on letting President Trump walk away from this without trying to hinder his chances of reelection in the fall.

Because while the West was focused on all this deal news, the world apparently failed to notice an announcement published on the Ministry of Commerce’s website late Friday. A set of new export controls had been adopted, and the list included AI interface technologies such as speech and text recognition, as well as those that analyze data to make personalized content recommendations. Both of these – but particularly the second – are critical components of TikTok’s content-recommendation machine, widely credited with driving the app’s global popularity.

Though China’s typical ministry spokespeople wouldn’t comment on the new rules, a few CCP functionaries were apparently willing to explain the situation to Bloomberg in an “off the record” chat. According to them, Beijing isn’t trying to scuttle the sale; it’s merely trying to delay it until after the election to force President Trump to either make good on his threat to ban the app (which, keep in mind, has already been banned in India, previously one of its most popular markets), or balk and risk another embarrassing U-turn that could diminish his “tough on China” reputation.

The move, we imagine, will be considerably vexing for President Trump, who has labeled TikTok a national security threat due to Chinese laws requiring domestic companies to cooperate with Chinese state intelligence services. The company is also being investigated by American regulators for purported abuses tied to the personal data of minors (a huge portion of the app’s user base).

Barring TikTok carries another political risk: it would also bolster liberal conspiracy theorist’ claims that the president secretly blames the app and its cadre of young, politically engaged, users for the poor turnout at his Tulsa rally.

It could also potentially hurt his approval among younger voters, a large, if politically unmotivated, section of the population (you can ignore all those media reports about how engaged Gen Z is – all the available data shows they don’t vote).

On Aug. 15, President Trump issued a second executive order extending the deadline for ByteDance to sell or spin off its US operations for TikTok.

“There is credible evidence that leads me to believe that ByteDance…might take action that threatens to impair the national security of the United States,” Trump said in his order, issued Friday.

The new longer deadline was designed to increase the odds of TikTok making a deal before US tech giants like Apple and Google are forced to remove it from their app stores. TikTok is also suing the Trump Administration over the ban in the US courts (how convenient that they even have the option).

At this point, the most advantageous outcome for President Trump would be if the US courts shoot down his executive order. They have challenged his claims of national security before when it came to immigration.

20200828200911003 by Zerohedge on Scribd

end

CHINA/AUSTRALIA

it is about time that all western nations stop trading with this criminal regime in China

China Arrests High Profile Australian Citizen & State TV Anchor Under Mysterious Circumstances

In another huge shot across the bow in the ongoing tit-for-tat media and journalism ban between China and the West, a high-profile Australian television anchor has been detained by authorities in Beijing.

Australian Foreign Minister Marise Payne confirmed Monday that Cheng Lei, who it turns out is a veteran news anchor for the Chinese government’s English news channel, CGTN, is being prevented from returning to her home country. She’s been detained and placed in secured isolation for an indeterminate amount of time.

“The Australian Government has been informed that an Australian citizen, Ms Cheng Lei, has been detained in China,” the Australian government statement said. “Formal notification was received on 14th of August from Chinese authorities of her detention,” it continued, though news of her detention is only now being reported via Australia’s ABC.

*Cheng Lei on the set of Global Business not long before she was detained, via The Australian.*

“Australian officials had an initial consular visit with Ms Cheng at a detention facility via video link on 27th of August and will continue to provide assistance and support to her and her family,” it continued.

It was friends and colleagues who first noticed she was “missing” as she didn’t return messages over a period of weeks. She also hadn’t appeared on her most recent show, CGTN’s Global Business, after long being one of its premier hosts.

Strongly suggesting that Lei could actually be under suspicion of spying or passing sensitive information to the Australian government, or other serious breach of her work for state-run CGTN, her employment profile page detailing eight years of accomplishments for CGTN has been taken down and all videos of her previous stories have been scrubbed.

*Her reporting put in her close contact with top officials across China. Here in 2018 she interviews He Yu, chairman of China General Nuclear Power Corporation. Image: CGTN*

Australian media says she hasn’t been charged, yet has been detained under a draconian Chinese law allowing security services to detain and question a suspect for up to six months with no access to a lawyer or outside communications.

It comes as tensions between Canberra and Beijing escalate primarily over the recently enacted Hong Kong national security law, which resulted in Australia suspending its extradition treaty with Hong Kong, after which China vowed retaliation.

Chinese authorities have indicated she’s currently held in “residential surveillance at a designated location”, ABC notes.

Another Australian citizen and news correspondent, Yang Hengjun, had previously been detained January 2019, and has reportedly yet to be provided access to his lawyers.

end

CHINA VS USA

White House is planning to target more Chinese tech firms as the war on China escalates

(zerohedge)

White House Plans To Target More Chinese Tech Firms After TikTok, WeChat, Navarro Warns

As CNBC reports that ByteDance could announce a deal to sell TikTok – or at least the US-facing business (along with Australia, New Zealand and Canada) – as soon as Tuesday, seemingly contradicting speculation that Beijing had a few days ago moved to try and delay the deal, White House trade advisor Pete Navarro returned to Fox Business Monday morning to warn that it’s “critical that this country not use apps that are made in China”.

Navarro warned that user data gleaned from apps like TikTok and WeChat can be used to “surveil, monitor and track” Americans.

“What I can say to the American people is that it’s critical that this country not use apps that are made in China or can take our data and move it to servers in China”.

“It will be used to steal your passwords, it will be used – in some cases – to blackmail or extort you,” he added.

“That’s the policy position underlying why we have gone after TikTok and WeChat, and there will be others because China…is basically going out around the world trying to acquire technology and influence.”

Officials in Beijing have continued to heap pressure on the Trump Administration after the president announced plans to target WeChat, the Tencent-owned app that is ubiquitous in China, where citizens use it for retail purchases, shopping, investing and myriad other tasks, in addition to texting.

American companies complained to Trump that any action against WeChat could jeopardize their access to the Chinese market. Officials in Beijing have warned that barring WeChat would cause Chinese consumers to “abandon” the iPhone, since it wouldn’t be able to run WeChat.

But while the administration’s China ‘doves’ have sought to focus the White House’s wrath on Huawei and TikTok, along with – to a lesser extent – WeChat, Navarro, who frequently contradicts comments made by his policy rivals within the West Wing – insisted that the White House would be targeting even more Chinese companies in the near future.

Navarro even suggested that TikTok’s widely praised content-feeding algorithm, credited with the hyper-addictive experience TikTok serves to users, was rooted in AI technology stolen by Chinese firms by the US, with most of the technology stolen from the biggest Silicon Valley giants.

“AI is just critical and a lot of the AI that China now has came from 2 American companies – Google and Microsoft – now we have the typical situation where China grabs content from us and now they’re restricting it,” Navarro said.

His comments on AI were in reference to new rules adopted by the CCP on Friday that impose new obstacles to a sale of TikTok, which experts say could delay any potential sale until after the election, which could force President Trump into a politically uncomfortable position.

Of course, while Navarro has been Trump’s most vocal China hawk for virtually the entirety of his first term, the administration’s push to get more countries to resist Chinese tech hasn’t always panned out – the campaign against Huawei is perhaps the best example of this.

Source: Bloomberg

4/EUROPEAN AFFAIRS

GREECE/TURKEY

Greek and Turkish jets in a near dogfight off Cyprus.

(zerohedge)

Greek & Turkish F-16 Jets In Near ‘Dogfight’ Off Cyprus; Viral Video Shows Radar Lock

Turkey’s Air Force F-16s have confronted Greek fighter jets over the eastern Mediterranean in what is perhaps the closest the two sides have come to an incident sparking war.

Military statements from both sides are revealing details of the incident which happened Thursday off the southwestern coast of Cyprus, and involved what The Times (UK) described as a mock “dog fight” in which the Greek fighters even called for more aerial reinforcements.

“Turkish and Greek fighter jets have engaged in a mock dogfight over the eastern Mediterranean, the second direct confrontation between the two Nato powers this month,” The Times writes. “Ankara sent F-16s to intercept six Greek jets as they returned from Cyprus — where they had been participating in war games — to their base in Crete.”

Subsequent Turkish cockpit video allegedly from the encounter appears to show that during the intercept a Turkish F-16 achieved radar lock on a Greek fighter, but did not fire.

Viral radar video published by Turkey’s Ministry of Defense on Friday shows the risky jet intercept. It garnered over a million views merely within the first few hours of release, showing how hot tensions are running among each side’s population:

Bloomberg also confirmed the dangerous incident as the two sides are increasingly backing their maritime claims with military power: “Turkish F-16s blocked six Greek jets from flying over a maritime area designated as off limits by Turkish navtex, or navigational telex, according to a statement by Turkey’s Defense Ministry.”

This week the UAE also jumped in, as France and Italy have already joined Cyprus and Greece in joint war games, at a time Turkey is also about to hold its own ‘live fire’ exercises in the area.

Recall that the allies are also standing against Turkey inside Libya, where Turkey’s military has propped up the Tripoli government, but alternately the UAE has firmly backed rival Gen. Khalifa Haftar.

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/UAE

This is huge! Israel and UAE planning to occupy Socotra Island monitoring what goes on in the Bal al Mandab Strait

(South Front)

UAE And Israel Plan To Create Intelligence Bases On Yemen’s Socotra Island

By South Front,

Israel and the United Arab Emirates are going to create a military intelligence-gathering infrastructure on Yemen’s Socotra Island, according to Arab and French sources.

The 3,650km^2 island, located south of the Yemeni mainland in the Indian Ocean, overlooks the Bab al-Mandab Strait. The straight is a sea route chokepoint between the Horn of Africa and the Middle East, connecting the Red Sea to the Gulf of Aden and Arabian Sea. Most exports of oil and natural gas from the Persian Gulf that transit the Suez Canal or the SUMED Pipeline pass through both the Bab el-Mandeb and the Strait of Hormuz.

Since the start of the Saudi-led intervention in Yemen, the UAE, formally a Saudi ally, and the UAE-backed Southern Transitional Council, a Yemeni separatist movement that is formally allied with the Saudi-backed government in Aden, have established control over most of Socotra Island. For years, the UAE has been seeking to annex the island due to its strategic location. The collapse of the Yemeni statehood due to the years-long instability and the foreign intervention paved a way for more direct actions. The creation of a military infrastructure there is a logical step in this strategy.

According to reports, a delegation of Israeli and UAE officers recently visited the island and examined several locations for establishing the planned intelligence facilities. Earlier in August, the UAE and Israel with assistance from the United States reached a historical peace agreement relaunching diplomatic, economic and even military cooperation between the states on the highest level. The security and military cooperation in the Bab al-Mandab Strait was among the expected goals.

Arab and Iranian media allege that in 2016 Israel started building an intelligence-gathering base at the top of Mount Ambassaira, south of the Eritrean capital of Asmara. The base, according to reports, is designed to monitor the conflict in Yemen, as well as the naval situation in the region, including movements of Iranian naval forces.

The UAE, thanks to its support to the Southern Transitional Council, has already changed the balance of power in southern Yemen to its favor. If, additionally to this, Abu Dhabi succeeds in turning the Socotra Island into its outpost, the UAE will have all chances to shift the balance of power to its own favor even further.

The Emirati leadership has been slowly but steadily taking an upper hand in the diplomatic, military and economic competition with the Saudi Kingdom, which has so far suffered most of negative consequences, including direct strikes on its territory, from the conflict with Yemen’s Houthis. The peace agreement and security, military cooperation with Israel will also contribute to this scenario.

6.Global Issues

CORONAVIRUS UPDATE/GLOBE/SUNDAY

World Passes 25 Million Confirmed COVID-19 Cases: Live Updates

Summary:

Global cases top 25 million
Deaths top 840,000
FDA director says vaccine can be fast-tracked
Dr. Fauci says vaccines could be proved ‘safe and effective’ by November
India tops 3.5 million cases

* * *

By mid-morning on Sunday in the US, the number of confirmed cases reported worldwide surpassed 25 million, a psychologically important milestone, even though millions more cases have likely gone undiagnosed.

Deaths, meanwhile, have topped 840,000.

In other news, Dr. Stephen Hahn, the FDA chief who caught flack, then apologized, for granting emergency-use approval to a blood plasma-focused COVID-19 treatment favored by President Trump, told the FT that he would be willing to “fast track” vaccine approval. This comes just days after he assured Bloomberg reporters that the agency would “stick to the science” and that any approval would be “data based”. Speaking to the Times of London, a different British broadsheet, Dr. Anthony Fauci reiterated his claims that the US should expect a vaccine by the end of the year, possibly sooner, and that we should know whether candidates are “safe and effective” by November.

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said this weekend: “The way the pace of the enrollment is going on and the level of the infections that are going on in the United States, it is likely that we’ll get an answer by the end of the year.” He added, “It is conceivable that we would get an answer before that.”

“I would say a safe bet is at least knowing that you have a safe and effective vaccine by November, December.”

That’s good news, because America’s colleges have reported one COVID-19 outbreak after the next since the new semester began earlier this month. But as student newspapers castigate universities for “putting students’ lives at risk” (calm down kids), Bloomberg reports that a consensus is building among public health experts that it’s better to keep university students on campus following a COVID-19 outbreak rather than send them home, as many schools are – inexplicably – doing.

It’s easier to isolate sick or exposed students and trace their contacts if they stay put, said Ravina Kullar, epidemiologist and spokesperson for Infectious Diseases Society of America. Sending them home creates obvious risks of further spread.

That’s less than half of Saturday’s increase of 1,555. Germany registered more than 7,000 cases per day during the pandemic’s peak in the spring. Germany’s reproduction rate climbed to 1.04 from 0.94 the prior day.

After reporting another near-world record of new cases, India officially passed the 3.5-million case mark on Sunday, while its death toll exceeded 63,000. As India’s outbreak worsens, numbers in Brazil and the US continued to fall.

end

Michael Every:

the important days events…

Rabobank: “Bombshells Loom”

By Michael Every of Rabobank

Bank Holiday Bombshells

Happy Monday – or for me traditionally an unhappy Monday. Growing up in the UK, this particular Bank Holiday Monday (for a holiday in the UK it is) was a shock to the system. First, the weather always, always sucked – and surprise! It’s cold and rainy again today. Moreover, psychologically it was a day where it was still August and the shops were trying to sell us damp ice cream and tales of summer and sunshine…and yet 24 hours later you knew it was going to be September: autumn; back to school; the media talking about the clocks changing; dark; cold; no more bank holidays for the year, and no day off until Christmas. In short, you were always trying to enjoy the Bank Holiday, but with a sense of foreboding as you knew that a psychological and physical bombshell was looming.

Which seems an apt metaphor for today. Once again, markets are rising. Once again, it’s all sunshine in terms of market commentary. And yet 1 September looms.

First of all, back to school, then. Let’s see how that challenge is overcome in the age of Covid-19.

Second, we have stories in the UK that the Treasury is considering massive tax hikes to try to deal with the existing Covid-19 debt build-up (let alone what happens if re-opening schools goes wrong.) Regardless of the political-economy of tax hikes and reallocation, which I addressed last week, any step up in taxation means a smaller fiscal deficit – and that means less state stimulus – and that is at a time when the recovery is far from cemented against either the downturn or the virus. Apparently, No. 10 is not on board with tax hikes. They want to consider spending cuts instead, which are arguably even stupider given their political-economy.

So what’s the simple message? The UK has not worked out how to safely reopen the economy, including schools, and has even suddenly flagged shut downs can be seen again if things go wrong; and the UK has not worked out that everything has changed, fiscally and politically, when it clearly has. Imagine if we get austerity and a virus flare-up. Imagine if we don’t and we don’t. That’s the difference between a Bank Holiday scorcher and the usual downpour.

This metaphor applies everywhere, even in places with far better weather.

Other bombshells loom, of course.

The US election campaign is moving into even higher gear, and as it does so we see further US sanctions on Chinese companies, with Bloomberg reporting the chip industry fears it is next. TikTok owner ByteDance has meanwhile said that it will comply with a new Chinese regulation that seems to imply that it cannot be sold without Beijing’s say so: does this slow things down, or does it mean the value of this asset is not in the tens of billions mentioned recently, but perhaps zero? If so, this would very powerfully illustrate the point about how private companies can get swept away by the changing political economy, something that was again being flagged last week.

On the political side, a Democracy Institute/Sunday Express Pollalso now puts Trump 3 points up on Biden nationally (48% – 45% with 7% undecided) and up 7 in key swing states (49% – 42%), with a Trafalgar poll on Friday putting Trump up 2 in Michigan (47% – 45%). Saying anything about the US election now generates a hyper, hyper-partisan response, but can we agree the outcome in November still remains open rather than being a done deal?

Meanwhile, over the weekend Greek and Turkish F-16s were involved in not-so-mock mock dogfights. Clearly, tensions in the East Mediterranean remain high. Indeed, Turkey’s Foreign Minister has now cited a 1995 Turkish Parliamentary resolution to declare that if Greece extends its territorial waters to 12 miles in the Aegean (consistent with the UN Law of the Sea) it would be a casus belli – and Greece has stated it intends to do so. The EU is also threatening sanctions against Turkey over its energy drilling. Escalation on all fronts, in other words, and no clear path to a compromise that does not also compromise the UN Law of the Sea (again).

China has also slapped another investigation on Aussie wine exports that could last until 2022, just in case they didn’t notice the first one. Fortunately, they are still snuffling up as much iron ore as is possible, because that ol’ pump-primin’ just keeps a pumpin’…regardless of the inefficiency of the investment and how this all plays out in the long run.

Frankly, it is tiring to keep repeating that the real world, where people still live, and markets, where people don’t, are related to each other like a dream UK August Bank Holiday and the actual outcome. Such is life, however.

Indeed, in terms of data, the Asia-Pacific outlook overall showed more showers than sun:

Japanese industrial production today was up 8% m/m vs. 5% expected, so some ice cream due there for once…until one sees it is still -16.1% y/y, and that retail sales slumped 3.3% m/m vs -2.5% expected and are down 2.8% y/y;
NZ business confidence was flat at -41.8, showing no recovery at all;
China also reported that its August manufacturing PMI at 51 vs. 51.2 consensus, but with services at 55.2 vs. 54.2 expected (which is odd given all other indicators show the production side of the economy is close to normal, but the consumption side isn’t….so which services are doing so well?); and
Aussie private-sector credit was -0.1% m/m and now up just 2.4% y/y. This is not the stuff recoveries are made of.

7. OIL ISSUES

8 EMERGING MARKET ISSUES

CORONAVIRUS UPDATE/GLOBE

New Jersey Finally Reopens Indoor Dining, India COVID-19 Deaths Surpass Mexico: Live Updates

Summary:

NYC mayor hints indoor dining won’t reopen until a vaccine is ready
NJ to reopen indoor dining for first time since mid-March
Restaurant capacity will be limited to 25%
US cases top 6 million
Controversy over FDA Commissioner’s remarks continues
India passes Mexico’s death toll
Hong Kong set to restart in-person learning

* * *

Update (1050ET): After announcing plans to delay layoffs of 22,000 city workers despite a looming fiscal crisis driven by the scourge of COVID-19 and fleeing taxpayers, NYC mayor Bill de Blasio implied that the city has no plans to reopen indoor dining until a vaccine is available.

The legions of restaurant owners who have dutifully paid taxes for years probably can’t help but wonder why the mayor is bending over backwards to keep city workers on the payroll while leaving small business owners hanging out to dry.

* * *

As we reported Sunday evening, the US surpassed 6 million confirmed coronavirus cases, adding the latest million cases in 22 days, compared with just 16 days to go from 4 million to 5 million. And as the outbreak slows, it looks like some of the most recalcitrant states, which have until very recently been reluctant to meaningfully roll back any of their pandemic-era emergency orders, are finally starting to walk the long path back to (some semblance of) normalcy.

For example, on Monday, New Jersey Gov Phil Murphy tweeted that he would allow restaurants in the state to reopen their dining rooms – albeit with just 25% capacity – as he works to “restore one of our state’s key industries”.

In other words: the exodus of wealth tax payers finally motivated Murphy to act.

Restaurants will be allowed to reopen their dining rooms on Friday morning for the first time since mid-March.

Unfortunately for restaurant owners, running a restaurant at just 25% capacity would be extremely difficult – if not impossible – to do profitably.

Restaurant owners in NJ were initially instructed that they could reopen their dining rooms at 25% capacity on July 2. Outdoor dining has been ongoing since June 15. But on June 29, just three days before indoor dining was set to open, Murphy announced that he would post plans indefinitely following a spike in new cases.

Murphy blamed overcrowded dining areas and irresponsible citizens who refused to wear masks as justification for the decision.

Since early July, restaurants, who spent thousands on cleaning supplies and plexiglass dividers, have been distraught over Murphy’s inability to offer a clear timeline for reopening, something the governor blamed on the “unsteady rate of transmission”.

Hospitality industry lobbyist Marilou Halvorsen, president and CEO of the New Jersey Restaurant & Hospitality Association, told North Jersey.com that 30% of restaurants will close because of business lost during the pandemic.

While we imagine thousands of Garden Staters will rush to revisit their old favorite restaurants (at least those that are still around), for those stuck living on rice and beans no that all the “Trump money” has dried up, at least you can enjoy this video of NJ.

Paris is now offering free coronavirus testing at locations in each of its 20 districts starting Monday as it battles against a sharp resurgence of cases that has centered mostly in France’s two largest cities, Paris and Marseilles.

As the number of new cases tapers off in Hong Kong, high schools will soon be able to resume face-to-face classes in phases starting Sept. 23, according to an announcement from Secretary for Education Kevin Yeung.

Perhaps the biggest news overnight comes out of India’, which saw its death toll finally top Mexico’s to claim the third-largest death toll globally.

India is fast becoming the world’s new virus epicenter as outbreaks in both the US and Brazil slow.

The grim milestone comes a day after the world’s second-most populous country reported its latest record jump in new infections, which was also the most new cases reported in a day by any country on earth.

India reported 78,512 additional cases and 971 fatalities on Monday. It now has more than 3.6 million cases, while the death toll is above 64,000, compared with Mexico’s. On Sunday, Mexican health authorities reported 4,129 new confirmed novel coronavirus cases and 339 additional deaths, bringing the total number to 595,841 cases and 64,158 deaths.

Finally, as we noted last night, FDA Commissioner Stephen Hahn has doubled down on his claim, made during an interview, that the FDA would approve a vaccine before Phase 3 trials were finished if it thought doing so would be “appropriate”. It’s just the latest media-assisted ‘witch hunt’ for undue political influence.

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

Euro/USA 1.1935 UP .0036 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS/CORONAVIRUS/PANDEMIC /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /MIXED

USA/JAPAN YEN 105.55 UP 0.632 (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 1.3332 DOWN 0.0013 (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3072 DOWN .0017 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS MONDAY morning in Europe, the Euro ROSE BY 36 basis points, trading now ABOVE the important 1.08 level RISING to 1.1219 Last night Shanghai COMPOSITE CLOSED DOWN 8.13 POINTS OR 0.24%

//Hang Sang CLOSED DOWN 245.01 POINTS OR 0.96%

/AUSTRALIA CLOSED DOWN 0,24%// EUROPEAN BOURSES ALL MIXED

Trading from Europe and Asia

EUROPEAN BOURSES ALL MIXED

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 245.01 POINTS OR 0.96%

/SHANGHAI CLOSED DOWN 8.13 POINTS OR 0.24%

Australia BOURSE CLOSED DOWN. 24%

Nikkei (Japan) CLOSED UP 257.11 POINTS OR 1.12%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 1968.40

silver:$28.04-

Early MONDAY morning USA 10 year bond yield: 0.735% !!! UP 2 IN POINTS from FRIDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.52 UP 2 IN BASIS POINTS from FRIDAY night.

USA dollar index early MONDAY morning: 92.21 DOWN 16 CENT(S) from FRIDAY’s close.

This ends early morning numbers MONDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing MONDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.42% UP 2 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.05% UP 1 BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.41%//UP 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:1,10 UP 6 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 71 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO –.39% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.49% 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 MONDAY

Closing currency crosses for MONDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1957 UP .0059 or 59 basis points

USA/Japan: 105.80 UP .482 OR YEN DOWN 48 basis points/

Great Britain/USA 1.3381 UP .0037 POUND UP 37 BASIS POINTS)

Canadian dollar UP 53 basis points to 1.3086

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,CNY: AT 6.8484 ON SHORE (UP)..GETTING DANGEROUS

THE USA/YUAN OFFSHORE: 6.8493 (YUAN UP)..GETTING REALLY DANGEROUS

TURKISH LIRA: 7.3609 EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield closed at +.05%

Your closing 10 yr US bond yield DOWN 1 IN basis points from FRIDAY at 0.708 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.48 DOWN 3 in basis points on the day

Your closing USA dollar index, 92.114 DOWN 25 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

German Dax : CLOSED DOWN 87.82 POINTS OR .67%

Paris Cac CLOSED DOWN 55.72 POINTS 1.11%

Spain IBEX CLOSED DOWN 163.50 POINTS or 2.29%

Italian MIB: CLOSED DOWN 207.32 POINTS OR 1.04%

WTI Oil price; 43.11 12:00 PM EST

Brent Oil: 45.95 12:00 EST

USA /RUSSIAN / RUBLE FALLS: 74.31 THE CROSS HIGHER BY 0.22 RUBLES/DOLLAR (RUBLE LOWER BY 22 BASIS PTS)

TODAY THE GERMAN YIELD RISES TO –.39 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 : 42.84//

BRENT : 45/54

USA 10 YR BOND YIELD: … 0.702 down 2 basis points…

USA 30 YR BOND YIELD: 1.48 down 2 basis points..

EURO/USA 1.11932 ( UP 34 BASIS POINTS)

USA/JAPANESE YEN:105.90 UP .584 (YEN DOWN 59 BASIS POINTS/..

USA DOLLAR INDEX: 92.18 DOWN 18 cent(s)/

The British pound at 4 pm Britain Pound/USA:1.3366 UP 22 POINTS

the Turkish lira close: 7.3494

the Russian rouble 74.08 UP 0.01 Roubles against the uSA dollar.( UP 1 BASIS POINTS)

Canadian dollar: 1.3038 UP 50 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.39%

The Dow closed DOWN 223.82 POINTS OR 0.78%

NASDAQ closed UP 79.82 POINTS OR 0.68%

VOLATILITY INDEX: 25.98 CLOSED UP 3.02

LIBOR 3 MONTH DURATION: 0.240%//libor dropping like a stone

USA trading today in Graph Form

Stocks & Silver Soar For 5th Straight Month, Bonds & Dollar Dumped

August 2020’s 7.3% surge in the major US market index is the largest August gain since 1984 (when the S&P 500 rose 10.63%), but as the chart below shows Trannies almost doubled those gains…

Source: Bloomberg

Crazy rotation day today (Nasdaq ripped and Dow and Small Caps slammed at the cash open as S&P clung to unch) but everything collapsed into a really ugly close…

While this broke the S&P’s streak of gains (would have been the longest streak since April 2019), it was still the 5th straight monthly gain…

“Do you want to play this game?”

And that strong month sent The Dow back into the green for 2020… but today’s weakness took it back red…

Source: Bloomberg

All thanks to an epic squeeze in the most-shorted stocks (more than doubling the S&P’s performance)…

Source: Bloomberg

The 5th month in a row closing at record highs…

Source: Bloomberg

With the strength being concentrated in fewer and fewer stocks…

Source: Bloomberg

As AAPL nears the same size as the entire Russell 2000!!!!

Source: Bloomberg

TSLA up 75% in August… bwuahahaha!!!

Source: Bloomberg

VIX was up on the month (despite soaring stocks)

VIX was higher on the day again (biggest jump since July 13th), continuing to decouple with stocks…

Source: Bloomberg

As the correlation between stocks and VIX reaches its highest since volmageddon in 2018

Source: Bloomberg

It was an ugly month for bonds with the long-end up over 25bps (small rotation in the last day helped a lot as rotation began…

Source: Bloomberg

In fact August was the worst relative performance of bonds to stocks since Oct 2011…

Source: Bloomberg

10Y Yields spiked 17bps on the month – the biggest absolute monthly spike since Sept 2018 – and oscillated around 70bps thanks to some rotation today (30Y back above 1.50%)…

Source: Bloomberg

But still some context for this rate move is needed…

Source: Bloomberg

Breakevens ripped higher for the 5th straight month (and up 7 days in a row) to their highest since May 2019…

Source: Bloomberg

Real yields ended notably lower (down from -1.00% to -1.10% on the month) signaling more upside for gold…

Source: Bloomberg

The dollar was pummeled for the 5th straight month to its lowest since May 2018…

Source: Bloomberg

Cryptos were mixed with Ethereum strong (DeFi boom), Bitcoin Cash weak, and Bitcoin small gains…

Source: Bloomberg

Copper and Crude had a strong month, gold ended flat, silver the big winner…

Source: Bloomberg

Gold rallied back to last week’s Powell-spooked highs today…

But Gold ended the month unchanged…

Source: Bloomberg

But despite a big roundtrip early on, Silver rallied notably on the month…

Source: Bloomberg

Which meant the Gold/Silver ratio cratered (for the 4th month in the last 5)…ending the month below 70x at the lowest level (silver strongest relative to gold) since March 2017…

Source: Bloomberg

And finally there’s this!

Source: Bloomberg

And this…

Source: Bloomberg

And this…

*BULLARD: WANT TO GUARD AGAINST ASSET BUBBLES GOING FORWARD

Because it’s different this time…

Source: Bloomberg

Probably nothing!

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

MARKET TRADING//USA

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA/AFTERNOON

ii)Market data/USA

iii) Important USA Economic Stories

Consumers have reached their financial cliff

(Mishtalk.Mish Shedlock)

Devastating Consumer Financial Cliff Coming Right Up

Authored by Mike Shedlock via MishTalk,

Consumers continued to spend in July but it won’t last.

Real Spending vs Real Income

Personal Income and Outlays, July 2020

The charts reflect data from today’s BEA report on Personal Income and Outlays, July 2020.

Personal income increased $70.5 billion (0.4 percent) in July. Disposable personal income (DPI) increased $39.9 billion (0.2 percent) and personal consumption expenditures (PCE) increased $267.6 billion (1.9 percent).
Real DPI decreased 0.1 percent in July and Real PCE increased 1.6 percent. The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.3 percent.

On the surface, things look ok.

Real Disposable Personal Income (DPI) was down a mere 0.1 percent while consumer spending more than held up.

Personal Consumption Expenditures (PCE), consumer spending, rose 1.6%.

Ominous Picture

This is an ominous picture because the Congressional Covid stimulus expired on July 25.

That’s when the last weekly stimulus check of $600 was sent. As of August 28, consumers will have missed 5 weekly checks of $600 each.

How Many People?

The answer comes from my post yesterday Unemployment Claims are Still Extremely Elevated.

All Continued Claims

Over 27 million people missed 5 weekly checks of $600 each.

Here’s the math: 27 million * 5 * $600 = $81 billion dollars.

That is money consumers don’t have to pay the rent, pay mortgages, or but food.

Some of those checks went to people working part-time. Continued claims represent people not working at all.

Continued Claims

Continued claims are covered employees who worked no hours. That’s at least 14.5 million. But that total does not include gig workers, self-employed, and other workers not covered at the state level.

My best guess is around 20 million people are solely reliant on pandemic assistance. Of them about 6 million have no money coming in at all.

14.5 million have only state benefits and that is not nearly enough to pay the bills.

Congressional Bickering

Congressional bickering over the amount of stimulus has been ongoing for months. Forbes has the latest details as of today.

According to Reuters, Meadows said the $1.3 trillion bill was offered to Democrats privately.
In their first conversation in weeks, Meadows and House Speaker Nancy Pelosi (D-Calif.) spoke for 25 minutes via phone on Thursday but did not make any progress towards reaching an agreement.
Meadows described the call as “25 minutes of nothing,” Fox Business reported, and Pelosi said in a statement that the conversation made it clear that “the White House continues to disregard the needs of the American people.”
Pelosi also said Thursday that Democrats were “not budging” on their latest offer.

No End in Sight to Bickering

Despite over 20 million people are severely impacted and have been for 5 weeks, there is no end in sight to the bickering.

Financial Cliff Has Started

A financial cliff is not coming up, it has already started. It will show up in the August data accompanied by a jump in evictions and repossessions.

end

The tide is turning: 6 democrat mayors in Minnesota are now endoring Trump claiming Biden has done noting for the working class

(zerohedge)

Half-Dozen Democrat Mayors In Minnesota Endorse Trump, Say Biden ‘Did Nothing’ For Working Class

The Democratic mayors of six small towns in Minnesota have rejected Joe Biden as having ‘moved too far to the left,’ and are instead supporting President Trump, according to Breitbart.

“Like many in our region, we have voted for Democrats over many decades,” reads a Friday letter from Mayors Larry Cuffe of Virginia (city), John Champa of Chisholm, Chuck Novak of Ely, Chris Swanson of Two Harbors, Robert Vlaisavljevich of Eveleth and Andrea Zupancich of Babbit.

Under Democrats, they continue, “We have watched as our constituents’ jobs left not only the Iron Rage, but our country. By putting tariffs on our products and supporting bad trade deals, politicians like Joe Biden did nothing to help the working class. We lost thousands of jobs, and generations of young people have left the Iron Range in order to provide for their families with good paying jobs elsewhere.”

Today, we don’t recognize the Democratic Party. It has been moved so far to the left it can no longer claim to be advocates of the working class. The hard-working Minnesotans that built their lives and supported their families here on the Range have been abandoned by radical Democrats.We didn’t choose to leave the Democratic Party, the party left us.

Yet, four years ago, something wonderful happened. Donald J. Trump was elected President of the United States, and he stood up to China, implemented tax cuts and fought for the working class. Now, four years later, the Iron Range is roaring back to life and for the first time in a very long time, locals are hopeful because of this President’s policies and willingness to fight for us. Lifelong politicians like Joe Biden are out of touch with the working class, out of touch with what the country needs, and out of touch with those of us here on the Iron Range and in small towns like ours across our nation.

The letter ends with a formal endorsement of President Trump for “four more years.”

Rittenhouse Lawyers Say Video Evidence Proves Kenosha Shootings Were ‘Acts Of Self-Defense’

A couple of days ago, we reported that conservative attorney Lin Wood has taken on the case of Kenosha shooter Kyle Rittenhouse, the 17-year-old who has been hit with 6 charges stemming from a Tuesday night bloodbath where he shot three men, killing two, during a night of chaos, anarchy and looting.

As the lawyer goes about shaping and implementing his legal strategy, Wood told reporters that he plans to argue his client acted in self-defense during the fatal shootings.

Wood, who is based in Atlanta but will be arguing the case in Wisconsin, where his client is set to be extradited, told reporters that video footage of the altercation would vindicate Rittenhouse. He also slammed the mainstream media for spreading “misinformation” about his client.

“Kyle Rittenhouse acted in self-defense. Murder charges are factually unsupportable. An egregious miscarriage of justice is occurring with respect to this 17-year old boy,” Wood said on Twitter.

An Illinois judge on Friday postponed Rittenhouse’s extradition to Wisconsin so the 17-year-old defendant and his family could arrange for a private legal team. He didn’t appear during Friday’s virtual bond hearing, where it was decided he would be held without bond.

As Reuters pointed out, the criminal complaint filed against Rittenhouse cites as evidence several videos recorded by witnesses, including one where Rittenhouse can be heard calling a friend and telling them “I just killed somebody”.

Coincidentally, Rittenhouse spoke to a reporter earlier in the evening and said he was there to help keep the peace, and that he had brought a medical kit, along with his AR-15, just in case.

Wood won notoriety for his work representing Covington Catholic student Nick Sandmann in his battle to seek compensation from the mainstream media outlets, including WaPo and CNN, that he argued defamed him.

Though he isn’t a criminal defense lawyer, Wood has helped assemble a pro bono legal defense for Rittenhouse.

“I and my colleagues at Pierce Bainbridge are representing Kyle Rittenhouse,” Pierce said in a statement. “We will obtain justice for Kyle.”

Many in the conservative media world have already speculated that Rittenhouse acted in self defense.

END

Kenosha in ruins

(zerohedge)

Kenosha Or Kosovo? Shocking Images Reveal Destruction After Race Riots Leave Buildings In Ruins

Harrowing scenes of destruction have emerged from Kenosha, where several nights of BLM riots have left the Wisconsin town looking like it’s been through war.

Entire buildings have been reduced to rubble, businesses have been destroyed, and parking lots full of burnt-out cars are all that’s left in some parts of the town, after riots over the shooting of 29-year-old black suspect Jacob Blake only came to a halt after President Trump sent the National Guard to restore order.

Josh Glancy, Washington Bureau Chief of the Sunday Times documented some of the aftermath, which locals believe was caused largely by “out of towners.”

Glancey closes by noting: As we were talking, a young man came to ask the owner where the nearest post box was. “There used to be two across the street,” he replied. “But they both just got burnt.“

Meanwhile, the Kenosha News obtained aerial images from photographer Sean Krajacic.

President Trump couldn’t have asked for a better campaign advertisement.

Meanwhile, Trump will be in Kenosha on Tuesday…

Will they cart Biden out of his basement to do the same? We would note that Trump visited flood-ravaged Baton Rouge when he was a candidate in 2016 following Louisiana’s worst natural disaster since Hurricane Sandy in 2012.

end

Tallahassee police make the correct ruling when a man pulled a pistol (lawfully carrying a permit) and thus he lawfully defended himself

(zerohedge)

Tallahassee Police Rule Man Who Pulled Pistol In Viral Protest Confrontation “Lawfully Defended Himself”

No charges have been filed against a Florida man who was pictured in a viral protest video whipping out a gun before being immediately swarmed by police and taken into custody.

In the video, a gang of “peaceful” protesters could be seen pursuing and attacking the man, who was found to be carrying a legal concealed carry permit.

But after reviewing several videos of the incident, investigators with the Tallahasse Police Department ruled that the suspect was carrying a concealed carry permit and that brandishing the weapon was justified given the fact that he was being “attacked”.

The suspect appeared at the Tallahassee protest over the weekend carrying a sign during a demonstration at the state capital. The man soon attracted a crowd who surrounded him and pelted him with curses, until members of the crowd physically lashed out at him.

While several of the protesters told local media that the suspect threw the first punch, the video tells a different story. And police investigating the incident ruled with that.

The Tallahassee PD released a statement relaying the facts of the incident. Police said a white man began “documenting the protest” and then was pushed from behind. A fight ensued, police said, and the man was knocked to the ground.

“He got back to his feet and brandished a gun,” but “officers quickly engaged, took the individual into custody and peacefully dispersed the crowd.”

No charges were filed, and no injuries were reported as the suspect “was lawfully carrying a concealed weapon as a license holder.”

Tallahassee PD’s statement ended with a warning, and a plea, calling for people to remain peaceful.

“Tensions are very high, and TPD is calling for protests and actions to remain peaceful. Verbal and physical altercations can quickly escalate into tragedy. Everyone must work together to de-escalate conflict,” the statement said.

Police also released a couple of videos so citizens could judge for themselves. The videos clearly show that the gun owner was “knocked to the ground and under attack before lawfully defending himself.”

“The evidence confirmed the physical altercation between numerous protestors and that the individual was knocked to the ground and under attack before lawfully defending himself. TPD confirmed that the individual with the gun was lawfully carrying a concealed weapon as a license holder.”

Judge sides with Trump as he voids 50,000 absentee ballot requests in Iowa

(Pentchoukov/Epoch Times)

Judge Sides With Trump Campaign, Voids 50,000 Absentee Ballot Requests In Iowa County

Authored by Ivan Pentchoukov via The Epoch Times,

An Iowa judge ordered a local county auditor to invalidate 50,000 absentee ballot requests, agreeing with a Trump campaign argument that a local elections commissioner broke the law by pre-filling the applications with voters’ personal information.

Judge Ian Thornhill ordered Linn County Auditor Joel Miller (D) to notify the affected voters in writing that their absentee ballot requests cannot be processed because they should not have been pre-filled with their personal information. The impacted voters would have to fill out new requests or vote in person on Election Day. Miller said he would comply with the order and send new blank forms to the voters in September.

The Trump campaign filed similar challenges to other counties in Iowa.

The Democrats and Republicans are waging an extensive legal battle across the nation that will shape the rules of the 2020 election. Democratic presidential nominee Joe Biden has said that his campaign has retained more than 600 lawyers for the effort.

Democrats called Thornhill’s decision an act of voter suppression. Republicans said the ruling would enhance voting security and hold a “rogue auditor” accountable.

Miller in July sent 140,000 absentee ballot request forms to voters pre-filled with their personal information, including their names, dates of birth, and voter identification numbers. Miller has said his intention was to make it easier to vote amid the pandemic.

The judge ruled that Miller’s move violated an order from Iowa Secretary of State Paul Pate, who told county officials in July that the absentee ballot request forms mailed to voters must be blank to ensure uniformity.

The voters signed and returned 50,000 of the forms.

The state will begin to send out absentee ballots on Oct. 5.

Absentee voting resulted in record turnout in the Iowa primary in June. Iowa is one of 16 toss-up states in the 2020 election, according to a tally maintained by Real Clear Politics.

Weeks after the primary, the state’s Republican-controlled legislature passed a law blocking county auditors from filling in voters’ four-digit voting identification numbers, which few know and are routinely left blank on the forms.

Instead, the law requires auditors to contact voters by email or mail to have them correct mistakes themselves. Supporters argued that requiring voters to fill out their forms was a step to make absentee ballots more secure.

Miller and elections commissioners in Johnson and Woodbury counties said contacting voters who leave the information blank would have been too burdensome and potentially disenfranchised people, so they mailed forms with that information already filled in. They contended that the law did not block them from doing so.

Trump’s campaign and state and national Republican Party groups filed lawsuits against the three counties, seeking to invalidate all forms returned in response to the mailings. They warned that any ballots cast in response to the mailings could be challenged later.

Thornhill’s ruling, issued after he heard arguments Thursday, is the first so far. Another hearing is set for Friday in Woodbury County, where 14,000 of the absentee ballot requests have been returned. A hearing in the Democratic stronghold of Johnson County, where thousands more have been returned, is planned for next week.

The secretary of state has alleged that the mailing violated a law intended to protect the personal information stored in government and corporate databases, and asked prosecutors to investigate.

It argues that Miller had no legitimate purpose to access voters’ identification numbers and share them with a vendor that processed the mailing. Attorney general’s office spokesman Lynn Hicks said the office hasn’t decided whether to open an investigation.

Assistant Linn County attorney warned that an injunction would hurt voters who are expecting to receive absentee ballots and taxpayers who would be forced to pay for additional notifications to be sent

end

Michael Moore and Bill Maher beg the Dems to wake up: enthusiasm for Trump is off the charts.

(zerohedge)

Michael Moore & Bill Maher Beg Dems To Wake Up: “Enthusiasm For Trump OFF THE CHARTS! Are You Ready For Trump Victory?”

As even The New York Times was reluctant to admit this week, the return of mass unrest and urban rioting in places like Kenosha, Portland, Seattle and D.C. is only serving to energize Trump’s base, and further to make his law-and-order message more appealing to fence-sitters. RealClearPolitics has Biden’s lead shrinking to 3 points in key battleground states after Biden led in June by a considerable nearly 7 points, according to its index of polls.

And more significantly, some of same Liberal and Progressive voices that tried to warn Democrats ahead of Trump’s “shock” 2016 victory are at it again, starting with filmmaker Michael Moore, who warned in a Facebook post on Friday using all caps that enthusiasm among Trump’s base is “OFF THE CHARTS!”

Moore begged Biden-supporters and never-Trumpers to “ACT NOW!” Crucially, Moore had in the lead-up to the 2016 election been an almost lone voice on the left predicting a Trump victory, but was dismissed, laughed at and ignored at the time.

*Bill Maher and Michael Moore, Page Six/Getty Images*

Likely his listeners are not laughing now as he issues what he’s calling “a reality check again”. Pointing out that Trump is likely at least close to Biden if not pulling ahead in key states like Michigan and Minnesota — also states lately witnessing George Floyd protest-related riots, looting, and unrest — Moore said the following:

“Are you ready for a Trump victory? Are you mentally prepared to be outsmarted by Trump again? Do you find comfort in your certainty that there is no way Trump can win? Are you content with the trust you’ve placed in the DNC to pull this off?”

“I’m warning you almost 10 weeks in advance. The enthusiasm level for the 60 million in Trump’s base is OFF THE CHARTS! For Joe, not so much,” he added, underscoring that this time his warning is coming even earlier than the similar statements that irked his audience in 2016.

“Don’t leave it to the Democrats to get rid of Trump. YOU have to get rid of Trump. WE have to wake up every day for the next 67 days and make sure each of us are going to get a hundred people out to vote. ACT NOW!”

Moore referenced recent CNN polling showing “Biden and Trump were in a virtual tie.”

HBO’s “Real Time” host Bill Maher had a similar warning, telling MSNBC’s Joy Reid on Friday that he’s nervous and “less confident” about a Biden victory — “the same way I was feeling four years ago,” he said.

“I don’t know if this stuff works, but it might,” Maher said.

“I am feeling less confident about this — maybe it’s just their convention bump got to me, but I’m feeling less confident than I was a month ago.”

And the president himself highlighted the Maher statements on Twitter: “Leading in Michigan, leading in Minnesota, leading all over. Sorry!” Trump corrected.

And crucially the Libertarian-Left leaning Maher said something more important on his show Friday night. Let’s call this another inconvenient truth that Democrats simply don’t want to hear:

On Friday’s broadcast of HBO’s “Real Time,” host Bill Maher stated that Democrats “seem to be hesitant, in some ways…to condemn the looting.”

Maher said President Donald Trump seems to be running for re-election as “the law and order candidate. And are the Democrats facing that right? They seem to be hesitant, in some ways, for example, to condemn the looting. Because they understand what causes people to have the rage that would make them loot. Although, I don’t know why looting is always associated with the rage. I mean, sometimes they’re just taking shit, and it’s not people you would even think would need the shit.”

But like in 2016 we’re again dealing with a situation where never-Trumpers “don’t want to hear it”.

“Sometime’s they’re just taking shit,”Maher emphasized of the looting in a number of major cities which appear to be giving the Trump campaign a big boost.

However, this is precisely the type of thinking that Moore and Maher appear to be warning their Liberal colleagues against, given this was by and large the mentality they observed leading into 2016 election day.

* * *

As a reminder, below is precisely the I’m entitled to the presidency (like Hillary before) mentality Moore and Maher are highlighting:

v) King report/Courtesy of Chris Powell of GATA which includes the major swamp stories.

Japanese PM Abe says he’s resigning over resurfacing of chronic illness [ulcerative colitis]

Shigeru Ishiba, a 63-year-old hawkish former defense minister and Abe’s archrival, is a favorite next leader in media surveys, though he is less popular within the ruling party. A low-key former foreign minister, Fumio Kishida, Defense Minister Taro Kono, Chief Cabinet Secretary Yoshihide Suga, and economic revitalization minister Yasutoshi Nishimura, who is in charge of coronavirus measures, are widely speculated in Japanese media as potential successors. He stepped down previously because of a health issue in 2007 after only serving one year in office. He was reelected in 2012…

https://www.foxnews.com/world/japanese-prime-minister-to-resign-over-health-issues-report

Die Welt’s @Schuldensuehner: Will history repeat? Abe’s previous resignation, in 2007, was followed by period of underperformance for Japanese stocks & a stronger Yen. Topix fell 18% in 6mth period after announcement, vs only -7% for MSCI ACWI. The Yen strengthened 12% against the dollar

@Peoples_Pundit on Friday morning: Donald Trump just got the biggest betting odds convention bounce in history, and the convention just ended last night. That follows the net 0 polling bounce for Joe Biden, which is the weakest for a Democratic convention since 1972. [Nixon won 49 states]

The election odds tightened to a virtual pick’em at London-based Betfair Exchange, which lowered Biden to -105 and moved Trump to +105 in what the book called in a release the “biggest convention comeback in political betting history.”… U.S. sportsbooks aren’t allowed to take bets on the election… Vaccaro, 74, moved his line back to pick’em Friday after money showed on Trump overnight in global markets…

https://www.reviewjournal.com/sports/betting/donald-trump-closes-gap-on-joe-biden-in-presidential-election-odds-2107301/?ocid=uxbndlbing

2020 Election Odds: Trump’s Chances of Re-election Rise To 50%

Some oddsmakers’ have even cut Trump’s odds to -110, demonstrative of a 52.38% likelihood of securing a second term… https://www.oddschecker.com/us/insight/specials/politics/20200828-2020-election-odds-trumps-chances-of-re-election-rise-to-50pp

Atlanta Fed’s GDPNow model estimate for US Q3 2020 GDP growth is +28.9%. The Q3 GDP report is due October 29, less than a week before the election. The median forecast is 20.0%. Will this impact the election? https://frbatlanta.org/cqer/research/gdpnow

Fed’s Harker says it will take ‘a while’ for jobs market to heal, would be OK with inflation at 2.5%

Philadelphia Federal Reserve President Patrick Harker said Friday that it will take a significant amount of time before the U.S. sees unemployment figures return to their pre-coronavirus lows…Harker, a voting member of the Federal Reserve Open Market Committee, also said he would be comfortable allowing inflation to rise as high as 3% so long as it does so at a slow and manageable rate. “So, it’s really about the velocity of the inflation, not just the overall level,” Harker added.

https://www.cnbc.com/2020/08/28/feds-patrick-harker-says-jobs-recovery-will-be-slow-inflation-at-2point5percent-would-be-ok.html

The Fed balance sheet contract $20.219B for the week ended on Wednesday. MBS declined $28.669B; currency swaps fell $3.64B. Perhaps the $53B balance sheet jump in the previous week was related to technical issues involving MBS (Mortgage-backed securities). https://www.federalreserve.gov/releases/h41/current/

The big story on Friday: The dollar tanked, which propelled gold 2.5% higher. The dollar is threatening to break down from a 5-week consolidation of its July tumble.

Perhaps they are missing the housing boom that is occurring due to the exodus from NYC, Chicago, LA and other big-blue cities due to the violence and business closings. We have heard economists and Street experts proclaim for years that the multiplier effect from housing is larger than any other industry.

The boom will be transitory and the exited cities will have unmanageable social and fiscal problems. It’s really just a reallocation of people and their assets, a short-term ‘broken window’ economic boost.

The NYT: New Yorkers Are Fleeing to the Suburbs: ‘The Demand Is Insane’

https://www.nytimes.com/2020/08/30/nyregion/nyc-suburbs-housing-demand.html

Fleet of moving trucks mark exodus from Manhattan’s troubled Upper West Side

https://nypost.com/2020/08/30/fleet-of-moving-trucks-mark-exodus-from-manhattans-troubled-upper-west-side/

Indiana is open for business as the Illinois Exodus continues

“One of the major drivers is that Illinois’ tax situation and that huge debt for the public worker (government) pensions is always cited because these business leaders have no hope…

There is no hope because there is no political will in Illinois to solve its own problems. Illinois Democrats lean hard left now, and Gov. J.B. Pritzker is in control. Democratic political arguments are filtered through the Chicago liberal media prism, and solutions involve more taxes — but no real cuts in government. No true structural change… https://t.co/Jbm8068bwZ

Chapter 9 Is the Best Bad Option for Chicago’s Pensions – WSJ https://t.co/yLILtDSkNt

Cook County [Chicagoland] property owners delay paying $1.8 billion in taxes

Throughout the county 33% of the taxes owed by commercial properties owners are still outstanding, while only 15.8% of the residential property taxes are still due…

https://www.dailyherald.com/news/20200829/cook-county-property-owners-delay-paying-18-billion-in-tax

New Jersey Hikes Gas Tax By 22.5%, Bringing Total Increase Since 2016 To 250%

https://www.zerohedge.com/markets/new-jersey-hikes-gas-tax-225

NYT: Your Coronavirus Test Is Positive. Maybe It Shouldn’t Be.

The standard tests are diagnosing huge numbers of people who may be carrying relatively insignificant amounts of the virus… new data underscore the need for more widespread use of rapid tests, even if they are less sensitive…the Trump administration announced on Thursday that it would purchase 150 million rapid tests… On Thursday, the United States recorded 45,604 new coronavirus cases… If the rates of contagiousness in Massachusetts and New York were to apply nationwide, then perhaps only 4,500 of those people may actually need to isolate and submit to contact tracing… https://www.nytimes.com/2020/08/29/health/coronavirus-testing.html

CDC: Comorbidities – Table 3 shows the types of health conditions and contributing causes mentioned in conjunction with deaths involving coronavirus disease 2019 (COVID-19). For 6% of the deaths, COVID-19 was the only cause mentioned… [This report teems on social media.]

https://www.cdc.gov/nchs/nvss/vsrr/covid_weekly/index.htm?fbclid=IwAR2-muRM3tB3uBdbTrmKwH1NdaBx6PpZo2kxotNwkUXlnbZXCwSRP2OmqsI

DrElizabeth Hesse DC : “…Only 6% of all the 153,504 deaths recorded actually died from Covid. That’s 9,210 deaths. The other 94% had 2 to 3 other serious illnesses and the overwhelming majority were of very advanced age…” https://facebook.com/1566405890/posts/10224050038749877/?extid=gr0T716wo2v3tjFm&d=n

@JeremyBWhite: California “not completely abandoning” ICU and hospitalization data, “we’re just not leading with those criteria” as positive test rate/test numbers become critical metrics says Gov. @GavinNewsom [In other words, ICU and hospital stays are in a sharp decline.]

Audit exposes Postal Service’s overtime racket as Democrats seek bailout

The annual bill for overtime charged by postal employees grew 35% from $3.7 billion in 2014 to $5 billion last year… https://t.co/PhNnlVjjJG

Confessions of a voter fraud: I was a master at fixing mail-in ballots

A top Democratic operative says voter fraud, especially with mail-in ballots, is no myth…

He not only changed ballots himself over the years, but led teams of fraudsters and mentored at least 20 operatives in New Jersey, New York and Pennsylvania — a critical 2020 swing state… The tipster said sometimes postal employees are in on the scam. “You have a postman who is a rabid anti-Trump guy … and knowing 95% are going to a Republican, he can just throw those in the garbage.”… “There are nursing homes where the nurse is actually a paid operative…“[They] literally fill it out for them.”… https://nypost.com/2020/08/29/political-insider-explains-voter-fraud-with-mail-in-ballots/

Boeing grounds several 787 jets due to manufacturing defect https://trib.al/6xilp

@PollWatch2020: According to Democracy Institute the Dems badly miscalculated on BLM: 74% prefer all lives matter. 26% prefer black lives matter. The most important issues according to the DI poll: Which issue is most important to you?” Law & order/riots/violence = 37%; Economy/jobs = 27%; Education = 13%; Coronavirus/COVID-19 pandemic = 13%; Immigration = 10%

@PollWatch2020: Democracy Institute [in DC] shows Trump up nationally and in battlegrounds: National Popular Vote: Trump 48 Biden 45 Battlegrounds of FL, IA, MI, MN, PA Trump 49 Biden 42

‘I’m Not Sad That a Fu*king Fascist Died Tonight’: Left-Wing Portland Protesters Celebrate Murder of Trump [who wore Blue Lives Matter patch] Supporter

https://www.zerohedge.com/political/man-shot-dead-portland-amid-violent-protest-camouflage-gear-thin-blue-line-patch-found

Portland Mayor Ted Wheeler @tedwheeler on Friday afternoon: Today, I sent this letter via email to @realDonaldTrump declining his recurring offer to aid Portland by sending federal enforcement to the city. https://portland.gov/sites/default/files/2020-08/8.28.20-letter-to-president-trump.pdf

‘All Options on the Table’ to End Violence in Portland: Acting Homeland Security Secretary

https://www.usnews.com/news/top-news/articles/2020-08-30/all-options-on-the-table-to-end-violence-in-portland-acting-homeland-security-secretary

Why Dems and the liberal media minions are running scared

The proof comes in their efforts to wish away the wave of crime and violence engulfing many American cities. Their argument can be boiled down to two false claims. First, it’s President Trump’s fault. Second, it’s not that big of a wave…it was only when the polls started picking up signs that Trump was cutting into Biden’s lead that the Dems decided they had to respond…

https://nypost.com/2020/08/29/why-dems-and-the-liberal-media-minions-are-running-scared-goodwin/

While the US’s uncivil war intensified, prominent Democrats ratcheted up their incendiary rhetoric.

Dem US Sen. @ChrisMurphyCT: Can we take the gloves off and tell the truth? Trump is deliberately killing people. He holds rallies where people get infected. On Thursday, no social distancing or masks, sending a clear message that the CDC should be ignored. His plan is to kill people. Let’s just say it.

Michelle Obama says ‘white America’ acts like black women don’t exist

https://nypost.com/2020/08/28/michelle-obama-describes-being-invisible-to-white-america/

Actor @RealJamesWoods: This is civil war now. Democrats are fine with conservatives being murdered for wearing a hat they don’t like. They are going to keep attacking law-abiding Americans in frenzied mobs, until they are dealt with the same way all bullies finally are.

With Biden and Dems declining in polls due to the violence, palpably panicked Biden, Dems and MSM spewed this new talking point: ‘The violence is occurring on Trump’s watch. It’s his fault’! Dems, the MSM and some Repubs (Romney and Nikki Haley in May) jumped on the back of the Antifa and BLM tiger. Now, the tiger is hurting them and they fear that if they jump off, they will be devoured.

MarkSimoneNY: Notice on the Sunday show, all Democrat activists, including Chuck Todd, talking about the riots, were told to say “this is Donald Trump’s America.” Yes, but it’s Joe Biden’s voters who are disrupting and destroying it with their looting, violence, arson and rioting.

Beleaguered Portland Mayor Wheeler blamed Portland’s violence on DJT at a Sunday press conference.

https://twitter.com/MrAndyNgo/status/1300176980638220288

Dem @SenSchumer: President Trump is inciting violence while screaming LAW & ORDER. Enough.

@thehill: Rep. Adam Schiff: “The president is willfully fanning the flames of this violence… They believe the violence is helpful to them.” http://hill.cm/YZ4C2UT

Team Biden released a statement on Sunday afternoon that condemns violence but blame DJT for it.

https://twitter.com/ByronYork/status/1300158286734467072?s=09

SWAT swarms LA apartment after ‘shots were fired at a Trump car caravan’ https://trib.al/Tn4xd0q

Brietbart’s @joelpollak: Only in a country with a totally corrupt media could Democrats exploit the death of one of their opponents to blame their opponents for that very same death and hope to get away with it.

With violence/law & order the #1 issue in the campaign Dems are in a panic because they could lose the House. By trying to make the risible segue from ‘mostly peaceful protests’ to Trump caused the violence, Dems could induce swing voters to believe that Dems are insulting their intelligence.

Wisconsin Governor Tony Evers Begging Trump to Not Visit Kenosha Is the Best Indication of How Scared the Democrats Are of Being Held Accountable

https://www.redstate.com/streiff/2020/08/30/evers-asks-trump-stay-away-from-kenosha/

@axios: White House…confirmed… Trump’s Kenosha trip will go ahead, saying: “The White House has been humbled by the outreach of individuals from Kenosha who have welcomed the President’s visit”

Trump campaign rakes in $76 million during Republican National Convention

The GOP convention brought in 147.9 million views across television and online, Fox News has learned

The Democratic National Committee… brought in $70 million in fundraising during the 4-day convention… The DNC convention… had 122 million total viewers through television and online…

https://www.foxnews.com/politics/trump-campaign-millions-republican-national-convention

End of RNC Convention vs. end of DNC Convention comparison video
https://twitter.com/mad_liberals/status/1299194419439116288

Beginning of fireworks show after RNC Convention https://twitter.com/Leigh4USA/status/1299379389164130307

As the Vice President Lands in Duluth, Mayors from Historically Democrat Strongholds on the Iron Range of Minnesota Announce Their Endorsement of President Trump

https://www.donaldjtrump.com/media/mayors-from-historically-democrat-strongholds

What is Biden capable of doing to generate enthusiasm and momentum between now and the election?

RNC attendees attacked by BLM mob after being left with NO police protection after Trump’s speech https://t.co/zJYmgZ3nPE

GOP Sen. Rand Paul calls for FBI arrests, investigation into ‘mob’ he believes ‘would have killed us’ outside White House – “They were inciting a riot and they would have killed us had the police not been there,“… https://www.foxnews.com/politics/rand-paul-attack-police-arrest-investigation-white-house-rnc-protests

@SteveGuest: After Sen. Rand Paul was surrounded by the violent left-wing mob in Washington, D.C. last night, recent comments made by prominent Democrats are striking. Squad member [Dem Rep.] Ayanna Pressley called for targeting GOP officials with “unrest in the streets.”

https://twitter.com/SteveGuest/status/1299342001180114946

Trump on Friday in New Hampshire: Protesters YOUR ASS! I don’t talk about MY ASS… Those aren’t protesters… Those are anarchists. They’re agitators. They’re rioters. They’re looters… They’re just looking for trouble… https://twitter.com/FogCityMidge/status/1299500418834325505

@FogCityMidge: Trump: “There’s so much racial hatred and it’s put there by CNN & MSDNC. They stoke the flames!” https://twitter.com/FogCityMidge/status/1299506591339814918

Trump says the ten most dangerous cities in the United States are run by Democrats https://t.co/zTaJFjVaTH

Joe had a moment while criticizing Trump for saying law enforcement officials should “dominate your fellow citizens for exercising their right to peacefully protest… President Woods”. https://twitter.com/KarluskaP/status/1299807947359485954

You haven’t seen a BLM poll from the MSM since late July because support is falling while opposition is growing (38% from 28% on May 22) – even though most people won’t reveal their true feelings.

https://civiqs.com/results/black_lives_matter?annotations=true&uncertainty=true&zoomIn=true

Cloud Research: 11.7% of Republicans say they would not report their true opinions about their preferred presidential candidate on telephone polls. In contrast, just 5.4% of Democrats say they’d be reluctant to share their true voting intentions — roughly half the number of Republicans reluctant to tell the truth on phone polls. 10.5% of Independents fell into the “shy voter” category, just a percentage point lower than how Republicans react to phone polls…

https://www.cloudresearch.com/resources/blog/election-2020-poll-respondent-honesty/

Lindsay Graham Kept GOP Judiciary Committee Senators in The Dark About Interview of FBI Agent Joe Pientka – Pientka, a career FBI agent who voluntarily agreed to be interviewed by Senate investigators on Thursday, is at the center of multiple investigations of FBI abuses during the course of the bureau’s anti-Trump investigations both before and after the 2016 elections… https://t.co/S5SkrSvtx5

@johncardillo: Lindsey Graham is covering his tracks… did he help McCain push the dossier?

Senate investigators were denied access to Pientka until Thursday. The significance: It implies that Durham/Barr are finished with his ‘help’, which means indictments and plea deals will soon be here.

Citing concern over leaks, intel community will cease in-person election security briefings to Congress [Dems are livid.] https://abcnews.go.com/Politics/citing-concern-leaks-intel-community-cease-person-election/story

Trump accuses top Dems of leaking after intel head halts in-person briefings

“Whether it was Shifty Schiff or someone else, you have leakers on the committee who are doing bad things.”… https://nypost.com/2020/08/29/trump-accuses-dems-of-leaking-after-intel-head-halts-in-person-briefings/

DNI John Ratcliffe: Within minutes of one of those briefings ending a number of members of Congress went to a number of publications and leaked classified information again, for political purposes, to create a narrative that simply isn’t true. That somehow Russia is a greater national security threat than China… we’ve had a pandemic of information being leaked out of the intelligence community and I’m going to take the measures to make sure that that stops…

https://www.thegatewaypundit.com/2020/08/dni-ratcliffe-several-people-several-offices-leaked-classified-info-several-media-outlets-russia-nonsense-video/

@paulsperry_: Nat’l Intel Dir John Ratcliffe today disclosed on Fox Business that he’s filed a number of “crimes reports” to the Justice Dept/Special Prosecutor Durham over intelligence leaks by congressional members/staffers to the media. He confirmed several ongoing investigations

@MarkDice: Newly uncovered video of Kyle Rittenhouse shows him helping an injured protester after she was struck in the foot with a projectile. In another video he told the cameraman that he brought a medical kit, which is the bag he was carrying. No malicious intent. Exactly the opposite. https://t.co/rsmzKPe1xg

Newly uncovered footage shows Kyle Rittenhouse bringing a fire extinguisher to the scene of the (literal) dumpster fire in Kenosha the rioters started, to help put it out. It appears he handed it off to someone else, who put out the (literal) dumpster fire, causing the rioters to begin confronting the peace keepers, resulting in Joe Rosenbaum charging at Kyle Rittenhouse trying to take his gun (eye witness who spoke with police confirms). https://twitter.com/MarkDice/status/1299805752018706432

Kenosha protester killed by Kyle Rittenhouse remembered as a ‘peaceful person’ https://trib.al/gCGlrOJ

@BuzzPatterson US House candidate: This man was arrested SEVEN TIMES for domestic violence.

US Marshals find 39 missing children in Georgia in ‘Operation Not Forgotten’

The nine suspects face a total of 26 charges, including sex offender violations

https://www.foxnews.com/us/us-marshals-find-39-missing-children-in-georgia-in-operation-not-forgotten

US Marshals locate 25 missing Northeast Ohio children in ‘Operation Safety Net’

About one fourth of them are confirmed to be related to human trafficking or prostitution.

https://www.wkyc.com/article/news/local/northeast-ohio/us-marshals-locate-25-missing-northeast-ohio-children/95-7c7e61f8-0764-4099-840a-ca85e8c463e3

@joshdcaplan: ABC 6: Ohio authorities arrest 27 men in undercover online child predator mission “Operation Moving Target”

@realDonaldTrump: No, I want Big Ten, and all other football, back – NOW. The Dems don’t want football back, for political reasons, but are trying to blame me and the Republicans. Another LIE, but this is what we are up against! They should also open up all of their Shutdown States.

Obama counseled NBA players on forming a social justice committee

“They discussed establishing a social justice committee to ensure that the players’ and league’s actions this week led to sustained, meaningful engagement on criminal justice and police reform,” she [Obama spokeswoman] added… http://hill.cm/oweAV0q

Stephen A. Smith Says LeBron James ‘Turned Everybody Off’ During NBA Meetings

Smith said he heard from multiple sources that James was “speaking out of pocket” and talked to other players in a way that “really turned some of these young cats off.” “He sort of came off like, ‘I got mine, I don’t need this,’ and walked out,” Smith said. After emotions cooled down, James decided Thursday it behooved players to continue with the playoffs, according to multiple reports…

https://www.si.com/nba/lakers/news/stephen-a-smith-says-lebron-james-turned-everybody-off-during-nba-meetings

CEO Brad Alberts says [Dallas] Stars [NHL] have lost season-ticket holders over the team’s support of Black Lives Matter

https://www.dallasnews.com/sports/stars/2020/08/28/ceo-brad-alberts-says-stars-have-lost-season-ticket-holders-over-the-teams-support-of-black-lives-matter/

@toddstarnes: Two Chicago police officers were shot and seriously wounded yesterday. Not a single professional sports team has announced they are boycotting games in response.

10-time felon robbed [knocked unconscious] 85-year-old woman near Mag Mile [Chicago]

https://cwbchicago.com/2020/08/prosecutors-240-pound-10-time-felon-robbed-85-year-old-woman-near-mag-mile.html

Couple escaped gunman who shot two St. Louis police officers from their home

https://www.stltoday.com/news/local/crime-and-courts/god-protected-us-couple-escaped-gunman-who-shot-two-st-louis-police-officers-from-their/article_6af86f6a-eadc-11ea-b258-6fba437bfbde.html

Obama fires up Democrats: ‘I want you to argue with them and get in their face’ Sept. 18, 2008

https://www.nydailynews.com/news/politics/obama-fires-democrats-argue-face-article-1.323400

Attachments area

Well that is all for today

I will see you TUESDAY night.

DONATE

NUMBER OF NOTICES FILED TODAY FOR AUGUST CONTRACT: 1928 NOTICE(S) FOR 192800 OZ (5.9988 tonnes)

6545 NOTICE(S) FILED TODAY FOR 32,750,000 OZ/

Let us have a look at the data for today

3. ASIAN AFFAIRS

Trading Volumes on the COMEX TODAY: 234,620 contracts// volume small

CONFIRMED COMEX VOL. FOR YESTERDAY: 354,911 contracts// volume: fair/good //most of our traders have left for London

Own gold and silver coins and bars in the safest vaults in Zurich, Singapore, London and Dublin with GoldCore.

ii) Important gold commentaries courtesy of GATA/Chris Powell

Ohio police and firefighter pension fund to allocate 5% to gold

Outlaw gold mining? Imperialists and totalitarians would love that

Jan Nieuwenhuijs: Toward a multi-reserve currency system

iii) Other physical stories:

$16 Billion Ohio Police & Fire Pension Fund Approves A 5% Allocation For Gold

Eric Sprott Calls The CFTC “A Loser Organization”

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

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

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

Your early MONDAY 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

S&P Set To Open At New Record High; Tesla, Apple Trade Post-Split

3A/ASIAN AFFAIRS

3 a./NORTH KOREA/ SOUTH KOREA

b) REPORT ON JAPAN

3 C CHINA

Is Beijing’s TikTok Sale Delay Their Latest Attempt To ‘Meddle’ In US Election?

China Arrests High Profile Australian Citizen & State TV Anchor Under Mysterious Circumstances

White House Plans To Target More Chinese Tech Firms After TikTok, WeChat, Navarro Warns

4/EUROPEAN AFFAIRS

Greek & Turkish F-16 Jets In Near ‘Dogfight’ Off Cyprus; Viral Video Shows Radar Lock

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

UAE And Israel Plan To Create Intelligence Bases On Yemen’s Socotra Island

6.Global Issues

World Passes 25 Million Confirmed COVID-19 Cases: Live Updates

Rabobank: “Bombshells Loom”

Bank Holiday Bombshells

Other bombshells loom, of course.

7. OIL ISSUES

8 EMERGING MARKET ISSUES

New Jersey Finally Reopens Indoor Dining, India COVID-19 Deaths Surpass Mexico: Live Updates

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

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

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

USA trading today in Graph Form

Stocks & Silver Soar For 5th Straight Month, Bonds & Dollar Dumped

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

Devastating Consumer Financial Cliff Coming Right Up

Real Spending vs Real Income

Personal Income and Outlays, July 2020

Ominous Picture

How Many People?

All Continued Claims

Continued Claims

Congressional Bickering

No End in Sight to Bickering

Financial Cliff Has Started

Half-Dozen Democrat Mayors In Minnesota Endorse Trump, Say Biden ‘Did Nothing’ For Working Class

Rittenhouse Lawyers Say Video Evidence Proves Kenosha Shootings Were ‘Acts Of Self-Defense’

Kenosha Or Kosovo? Shocking Images Reveal Destruction After Race Riots Leave Buildings In Ruins

Tallahassee Police Rule Man Who Pulled Pistol In Viral Protest Confrontation “Lawfully Defended Himself”

Judge Sides With Trump Campaign, Voids 50,000 Absentee Ballot Requests In Iowa County

Michael Moore & Bill Maher Beg Dems To Wake Up: “Enthusiasm For Trump OFF THE CHARTS! Are You Ready For Trump Victory?”

Share this:

Related

One comment

Leave a comment Cancel reply

Donate

Archive

Spot Gold

Spot Silver