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China Unleashes MASSIVE $1/4 TRILLION Stimulus! – Harvey Organ
Posted on October 20, 2016 by The Doc

China Unleashes MASSIVE $1/4 TRILLION Stimulus! – Harvey Organ

china-shanghaiCHINA UNLEASHES MASSIVE STIMULUS EQUAL TO $ 1/4 TRILLION!
CHINA UNLEASHES MASSIVE STIMULUS LAST MONTH EQUAL TO 1/4 TRILLION USA/RUSSIA DEPLOYS LARGEST NAVAL FLEET TO SYRIA AS THEY ESCALATE WAR TENSIONS


Gold $1267.90 UP $7.10

Silver 17.62 UP 3 cents

In the access market 5:15 pm

Gold: 1269.50

Silver: 17.69
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

.

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix OCT 18 (10:15 pm est last night): $ 1267.16

NY ACCESS PRICE: $1263.75 (AT THE EXACT SAME TIME)

Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1265.60

NY ACCESS PRICE: 1261.75 (AT THE EXACT SAME TIME)

HUGE SPREAD TODAY!! 4 dollars

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London Fix: OCT 19: 5:30 am est: $1269.75 (NY: same time: $1266.75: 5:30AM)

London Second fix OCT 19: 10 am est: $1269.80 (NY same time: $1269.80 , 10 AM)



Shanghai premium in silver over NY: 87 cents.


It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.

Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

end



For comex gold:

11 NOTICES FILED FOR 1100 OZ


For silver:

for the Oct contract month: 0 notices for nil oz.

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Let us have a look at the data for today

.

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In silver, the total open interest ROSE by 2317 contracts UP to 189,229. The open interest ROSE as the silver price was UP 16 cents in yesterday’s trading .In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .946 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia &ex China).

In silver for October we had 0 notices served upon for NIL oz

In gold, the total comex gold ROSE by 4,124 contracts with the RISE in price of gold( $6.40 YESTERDAY) . The total gold OI stands at 497,061 contracts.

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With respect to our two criminal funds, the GLD and the SLV:

GLD

TODAY WE HAD NO CHANGES AT THE GLD:

Total gold inventory rests tonight at: 967.21 tonnes of gold

SLV

we had a good sized deposit of .855 million oz at the SLV/

THE SLV Inventory rests at: 363.140 million oz

.

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

1. Today, we had the open interest in silver ROSE by 2,317 contracts UP to 189,229 as the price of silver ROSE by 16 cents with yesterday’s trading.The gold open interest ROSE by 4124 contracts UP to 497,061 as the price of gold ROSE $6.40 IN YESTERDAY’S TRADING.

(report Harvey).

2.a) The Shanghai and London gold fix report

(Harvey)



2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg


end
3. ASIAN AFFAIRS

i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 0.844 POINTS OR 0.03%/ /Hang Sang closed DOWN 89.42 POINTS OR 0.38%. The Nikkei closed UP 35.30 POINTS OR 0.21% Australia’s all ordinaires CLOSED UP 0.414% /Chinese yuan (ONSHORE) closed UP at 6.7367/Oil ROSE to 50.91 dollars per barrel for WTI and 52.33 for Brent. Stocks in Europe: ALL IN THE RED Offshore yuan trades 6.7417 yuan to the dollar vs 6.7367 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS A BIT AS MORE USA DOLLARS ATTEMPT TO LEAVE CHINA’S SHORES
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA

none today

b) REPORT ON JAPAN

none today
c) REPORT ON CHINA

i)In just one month, China injects another 1/4 trillion dollars of debt (Total Social Financing) to jump start their economy. That is equivalent to 2.5 trillion USA dollars per year or 25% of their entire GDP. However that is not the scary part: you must also include two other very important debt items: Government debt, sovereign and local as well as the huge shadow banking sector: Peer to Peer lending. The total rate of debt expansion is twice the level of GDP

( zero hedge)

ii)Global markets hardly move as China just manages to meet GDP expectations of 6.7% Here are the other important data points for China this morning!

( zero hedge)


4 EUROPEAN AFFAIRS

i)GERMANY/ENGLAND

(Merkel is said to offer no back door concessions to England as the enter discussions on a BREXIT. The problem for Merkel is that Germany will be the net loser as their exports to England will falter badly especially in the light of the lower pound

( zero hedge)

ii)GERMANY

Problems continue with respect to refugees from Africa:

(courtesy zero hedge)



5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

Russia is getting ready for war: they are deploying the largest naval force since the cold war. It is heading for Syria.

( zero hedge)
6.GLOBAL ISSUES
none today
7.OIL ISSUES

WTI rises after another huge inventory drawdown. However production increases.

(courtesy zero hedge)
8.EMERGING MARKETS

this once prosperous nation with the world’s largest oil reserves has now gone into its death spiral. Probably within one month or two it will default on its debt and hopefully their misery will end and they can start over but they need to rid themselves of their leader Maduro

( zero hedge)
9.PHYSICAL STORIES

i)Silver eagle demand (as well as gold eagle demand return to extremely high levels in October as the world economy shakes:

( SRSRocco/ Steve St Angelo)

ii)Chris Powell questions why the Wall Street Journal must question central banking!

( Chris Powell/GATA)

iii)The media is trying to portray Trump’s campaign as anti-semitic, which is furthest from the truth..it is Hillary’s campaign with its closer ties to Iran that must be viewed as dangerous.

( zero hedge)

iv)GATA”s main focus has always been on central banks and not bullion banks

( Chris Powell/GATA)

v)As we pointed out to you last week, premiums are now surfacing in India for the first time in 9 months. This is in spite of a 10% tax and excise duties:

( Reuters)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER

i)What a story!! Massive voter fraud exposed by project Veritas Part ii

( zero hedge)

ii)Michael Snyder explains why Obama is threatening Russia with Word War iii, right before the election.
a very important commentary
( Michael Snyder/EconomicCollapse Blog)

iii)A good indicator of how good the USA economy is performing: the Cass freight index takes another dive southbound

( Mish Shedlock)

iv)It sure looks like Hillary has committed perjury: Wikileaks:

as for her personal emails….

“I asked that they be deleted”!!!!!!!!!!!!!!!!!!!!!!!!!!!!

(courtesy zero hedge)
Let us head over to the comex:

The total gold comex open interest ROSE BY 4124 CONTRACTS to an OI level of 497,061 as the price of gold ROSE $6.40 with YESTERDAY’S trading.

We are in the delivery month is October and here the OI LOST 6 contracts DOWN to 121. We had 5 notices filed yesterday so we lost 1 contract or 100 additional oz will not stand.

The next delivery month is November and here the OI FELL by 32 contract(s) DOWN to 3004 contracts. This level is extremely elevated as generally November is a very poor delivery month.To give you an idea of size, on Oct 18 2015, we had an OI of only 248 contracts.The next contract month and the biggest of the year is December and here this month showed an decrease of 597 contracts up to 367,212.


Today we had 11 notices filed for 1100 oz of gold.

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And now for the wild silver comex results. Total silver OI ROSE BY 2317 contracts from 186,912 UP TO 189,229 as the price of silver ROSE to the tune of 4 cents yesterday. We are moving further from the all time record high for silver open interest set on Wednesday August 3: (224,540). The next non active delivery month is October and here the OI rose by 13 contracts up to 163. We had 0 notices filed yesterday so we gained 13 contracts or 65,000 additional oz will stand for delivery.The November contract month saw its OI LOSE 1 contract DOWN to 329. The next major delivery month is December and here it ROSE BY 524 contracts UP to 149,177.

VOLUMES:

Today the estimated volume was 131,988 contracts which is fair.

Yesterday, the confirmed volume was 165,006 which is also poor.

today we had 1 notice filed for 5,000 oz of silver:

INITIAL standings for OCTOBER
Oct 19.

Gold Ounces
Withdrawals from Dealers Inventory in oz NIL
Withdrawals from Customer Inventory in oz nil
138,239.094 oz
HSBC
MALCA
SCOTIA


Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
1100.000 oz
BRINKS
???

No of oz served (contracts) today
11 notices
1100 oz

No of oz to be served (notices)
110 contracts
11,000
oz
Total monthly oz gold served (contracts) so far this month
8535 contracts
854,500 oz
26.544 tonnes
Total accumulative withdrawals of gold from the Dealers inventory this month oz
Total accumulative withdrawal of gold from the Customer inventory this month 313,673.1 oz

Today we had 0 kilobar transactions, ONE EXACT TRANSACTION and a HUGE amount OF GOLD leaving the comex


Today we had 0 deposit into the dealer:

total dealer deposits: nil oz

We had zero dealer withdrawals:


total dealer withdrawals: nil oz

.
We had 1 customer deposit;
i) into Brinks: 1100.000 oz
exact weight???


total customer deposits; 1100.000oz

We had 3 customer withdrawal(s)
i) Out of HSBC; 6,1972.992 oz
ii) Out of Malca: 66,456.117 oz
This removes all of Malca’s customer gold and they are left with zero oz. of customer gold
iii)Out of Scotia: 65,609.985 o



total customer withdrawal: 138,239.094 oz

We had 2 adjustment(s)
i) Out of Brinks: 9894.700 oz was adjusted from the dealer and this entered the customer account of Brinks
ii) Out of HSBC: 6566.144 oz was adjusted from the dealer and this entered the customer account of Brinks
total leaving the dealer: 16,455.844 in an obvious settlement.



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Total dealer inventor 2,289,209.366 or 71.204 tonnes
Total gold inventory (dealer and customer) =10,468,366.656. or 325.60 tonnes

Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 325.60 tonnes for a gain of 23 tonnes over that period. Since August 8 we have lost 28 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best.




For October:



Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued form their client or customer account. The total of all issuance by all participants equates to 11 contractS of which 0 notices were stopped (received) by jPMorgan dealer and 11 notice(s) was (were) stopped received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the Oct contract month, we take the total number of notices filed so far for the month (8535) x 100 oz or 853,500 oz, to which we add the difference between the open interest for the front month of OCT (121 contracts) minus the number of notices served upon today (11) x 100 oz per contract equals 864,600 oz, the number of ounces standing in this NON active month of September.

Thus the INITIAL standings for gold for the SEPT contract month:
No of notices served so far (8535) x 100 oz or ounces + {OI for the front month (121) minus the number of notices served upon today (11) x 100 oz which equals 864,500 oz standing in this non active delivery month of Oct (26.889 tonnes).

we LOST 100 additional oz standing in this active delivery month of October and I believe that this is a record standing for October. To give you an idea of size from last yr, we had only a little over 2 tonnes standing at the conclusion of Oct 2015!




The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine

IN THE LAST TWO MONTHS 28 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

OCT INITIAL standings
Oct 19. 2016
Silver Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
235,780.35 oz

CNT
Scotia


Deposits to the Dealer Inventory nil OZ
Deposits to the Customer Inventory

nil oz
No of oz served today (contracts)
0 CONTRACT(S)
(NIL OZ)
No of oz to be served (notices)
163 contracts
(815,000 oz)
Total monthly oz silver served (contracts) 356 contracts (1,780,000 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 5,191,804.6 oz
today, we had 0 deposit into the dealer account:
total dealer deposit: nil oz

we had 0 dealer withdrawals:
total dealer withdrawals: nil oz

we had 2 customer withdrawals:
i) Out of CNT:: 174,851.340
ii) out of Scotia: 60,929.01
Total customer withdrawals: 235,780.35 oz

We had 0 customer deposits:




we had 0 adjustment(s)


Volumes:

Today the estimated volume was 43,834 which is VERY GOOD.
Yesterday the confirmed volume was 67,577 which is EXCELLENT

The total number of notices filed today for the Oct contract month is represented by 0 contract(s )for NIL oz. To calculate the number of silver ounces that will stand for delivery in OCT., we take the total number of notices filed for the month so far at 356 x 5,000 oz = 1,780,000 oz to which we add the difference between the open interest for the front month of OCT (163) and the number of notices served upon today (0) x 5000 oz equals the number of ounces standing

Thus the initial standings for silver for the OCT contract month: 356(notices served so far)x 5000 oz +(163) OI for front month of SEPT ) -number of notices served upon today (0)x 5000 oz equals 2,595,000 oz of silver standing for the OCT contract month. THIS IS STILL A HUGE SHOWING FOR SILVER AS OCTOBER IS GENERALLY A VERY WEAK DELIVERY MONTH.

We gained 65,000 additional silver ounces THAT WILL STAND.

Total dealer silver: 29.286 million (close to record low inventory
Total number of dealer and customer silver: 173.490 million oz



The total open interest on silver is NOW close to its all time high with the record of 224,540 being set AUGUST 3.2016. The registered silver (dealer silver) is NOW NEAR multi year lows as silver is being drawn out at both dealer and customer levels and heading to China and other destinations. The shear movement of silver into and out of the vaults signify that something is going on in silver.


end

And now the Gold inventory at the GLD
OCT 19/no change in gold inventory at the GLD inventory/inventory rests at 967.21 tonnes
OCT 18/A DEPOSIT OF 1.78 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT967.21 TONNES
OCT 17/ A DEPOSIT OF 3.86 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 965.43 TONNES/IN 10 DAYS 16.29 TONNES DEPOSITED
Oct 14./NO CHANGE IN INVENTORY AT THE GLD
OCT 13/a deposit of 2.67 tonnes of gold into the GLD/inventory rests at 961.57 tonnes
Oct 12/No changes in inventory/inventory rests at 958.90 tonnes
Oct 11/ what!!! we had a gigantic 9.76 tonnes of inventory increase today/inventory rests at 958.90 tonnes. (this was done with gold down?)
Oct 7: 949.14 tonnes




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Oct 19/ Inventory rests tonight at 967.21 tonnes
*IN LAST 12 DAYS: 18.07 TONNES ADDED INTO THE GLD


end


Now the SLV Inventory
oCT 19/a good sized change at the SLV inventory: a deposit of 855,000 oz/rests at 363.140 million oz/
OCT 18/NO CHANGES AT THE SLV INVENTORY RESTS AT 362.285 MILLION OZ
OCT 17/NO CHANGES AT THE SLV/INVENTOR RESTS AT 362.285 MILLION OZ/
oCT 14: A HUGE ADDITION (DEPOSIT) OF 1.138 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 362.285 MILLION OZ
OCT 13/ NO CHANGES in inventory at the SLV/Inventory rests at 361.147 million oz
Oct 12:NO CHANGES in inventory at the SLV/Inventory rests at 361.147 million oz
Oct 11/ a withdrawal of 1.762 million oz of inventory from the SLV/Inventory rests at 361.147 million oz/






.
Oct 19.2016: Inventory 363.140 million oz

end
NPV for Sprott and Central Fund of Canada

Central fund data not available today.

1. Central Fund of Canada: traded at Negative 3.7 percent to NAV usa funds and Negative 3.5% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.7%
Percentage of fund in silver:38.3%
cash .+1.0%( Oct 19/2016).

2. Sprott silver fund (PSLV): Premium FALLS to +1.22%!!!! NAV (OCT 19/2016)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO 0.75% to NAV ( OCT 19/2016)
Note: Sprott silver trust back into POSITIVE territory at 1.22% /Sprott physical gold trust is back into positive territory at 0.75%/Central fund of Canada’s is still in jail.

tags
http://www.silverdoctors.com/silver/silver-news/china-unleashes-massive-14-trillion-stimulus-harvey-organ/

http://jessescrossroadscafe.blogspot.com/

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Thank You Jesse Doc & Harvey
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