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Wednesday, 09/13/2017 8:56:30 PM

Wednesday, September 13, 2017 8:56:30 PM

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Just Spam

Sept 13/Another raid with gold down $4.20 and silver down 4 cents on news of Trump’s supposed tax reform coming on Sept 25/USA threatens China with removal of the SWIFT payment system if they do not back the USA wishes with respect to North Korea/Turkey turns to Russia as it purchases missiles from them/ex UBS trader arrested in the USA for rigging gold and silver/
September 13, 2017 · by harveyorgan · in Uncategorized · Leave a comment

GOLD: $1324.40 DOWN $4.20

Silver: $17.79 DOWN 4 CENT(S)

Closing access prices:

Gold $1323.20

silver: $17.78

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1336.44 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1332.55

PREMIUM FIRST FIX: $3.89

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SECOND SHANGHAI GOLD FIX: $1334.59

NY GOLD PRICE AT THE EXACT SAME TIME: $1331.55

Premium of Shanghai 2nd fix/NY:$3.04

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LONDON FIRST GOLD FIX: 5:30 am est $1332.25

NY PRICING AT THE EXACT SAME TIME: $1332.20

LONDON SECOND GOLD FIX 10 AM: $1327.55

NY PRICING AT THE EXACT SAME TIME. 1328.65
For comex gold:
SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 3 NOTICE(S) FOR 300 OZ.

TOTAL NOTICES SO FAR: 54 FOR 5400 OZ (0.1679 TONNES)
For silver:
SEPTEMBER
264 NOTICES FILED TODAY FOR
1,320,000 OZ/
Total number of notices filed so far this month: 4,898 for 24,490,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

end



Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total open interest ROSE BY A RATHER LARGE 1031 contracts from 187,176 DOWN TO 188,207 DESPITE THE DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 1 CENT(S). WE HAVE NOW HAD THREE DAYS OF TORMENT AND YET THE SILVER OPEN INTEREST HARDLY BUDGES. THE LONGS ARE REMAINING STOIC AND REFUSE TO GIVE IN TO THE ANTICS OF THE BANKERS.

RESULT: A STEADY RISE IN OI COMEX DESPITE THE 1 CENT PRICE LOSS.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.941 BILLION TO BE EXACT or 134% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 264 NOTICE(S) FOR 1,320,000 OZ OF SILVER

In gold, the open interest ROSE BY A MONSTROUS 6,487 CONTRACTS DESPITE THE LOSS in price of gold ($2.95 LOSS YESTERDAY). The new OI for the gold complex rests at 580,606. NO WONDER THAT WE ANOTHER FLASH CRASH AND ANOTHER DAY OF TORMENT FROM THE BANKERS.



Result: A LARGE INCREASE IN OI DESPITE THE FALL IN PRICE IN GOLD ($2.95). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. NO DOUBT THAT ANOTHER FLASH CRASH WAS ORCHESTRATED TODAY DUE TO THE HUGE RISE IN OPEN INTEREST IN GOLD AND THE STEADY RISE IN OI IN SILVER

we had: 3 notice(s) filed upon for 300 oz of gold.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD:

Tonight , we had a huge change in gold inventory last night: a huge addition of 4.14 tonnes of gold.

Inventory rests tonight: 838.64 tonnes

SLV

Today: no change in inventory.

INVENTORY RESTS AT 327.088 MILLION OZ

end

.

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

1. Today, we had the open interest in silver ROSE BY A STEADY 1031 contracts from 187,176 UP TO 188,207(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 1 CENT LOSS IN TRADING. OUR LONGS ARE STRONG AND REFUSE TO BUDGE WITH THE ANTICS OF OUR BANKERS.

RESULT: A STEADY RISE IN OI AT THE COMEX DESPITE THE LARGE FALL IN PRICE OF 1 CENTS. NO DOUBT THE RAID WAS CALLED UPON BY OUR BANKERS WHEN THEY SAW BOTH GOLD AND SILVER OI ROSE YESTERDAY.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)



2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg
3. ASIAN AFFAIRS

i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 4.65 POINTS OR 0.14% / /Hang Sang CLOSED DOWN 78.16 POINTS OR 0.28%/ The Nikkei closed UP 89.20 POINTS OR 0.45%/Australia’s all ordinaires CLOSED DOWN 0.04%/Chinese yuan (ONSHORE) closed UP at 6.5333/Oil DOWN to 48.60 dollars per barrel for WTI and 54.55 for Brent. Stocks in Europe OPENED GREEN EXCEPT LONDON. Offshore yuan trades 6.5352 yuan to the dollar vs 6.5333 for onshore yuan. NOW THE OFFSHORE MOVED A LITTLE WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS A LITTLE STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY WEAKER DOLLAR. CHINA IS VERY HAPPY TODAY




3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)Seems that Kim is using Bitcoin to help the nation facing UN sanctions

( zero hedge)

ii)late this afternoon:

with the world kind of relieved that North Korea would not launch any more missiles, imagery has shown considerable activity at the launch site and maybe another nuclear test

( zerohedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA

i)The USA threatens China with their removal from SWIFT if it violates North Korean sanctions. This is a fast way for China to back its yuan with gold if this happens.

( zero hedge)

ii)Hedge funds are abandoning their short positions on China as they say it is just north worth fighting. Only Kyle Bass remains

( zerohedge)

iii)Late this afternoon: China will not be happy with Trump blocking Chinese acquisition of chipmaker Lattice Semiconductor

( zerohedge)
4. EUROPEAN AFFAIRS
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

This was largely expected except from the Western allies. Turkey pivots completely towards Russia and signs a missile deal. Now what will Turkey do with its 3 million migrants holed up inside their country..will they release them onto Greece?..what about Incirlik, the huge air base inside Southern Turkey

( zerohedge)
6 .GLOBAL ISSUES
7. OIL ISSUES

Both West Texas oil and gasoline fall after a huge crude build up in inventory. The huge production jump offsets the greatest gasoline inventory draw in history due to the hurricanes

( zerohedge)
8. EMERGING MARKET

VENEZUELA

An excellent commentary about the troubles facing Venezuela. The author describes how the once powerful state oil company PDVSA will face inevitable default

( Christopher Dembik/Saxo Bank)
9. PHYSICAL MARKETS
i)The market does not like the fact that Jamie Dimon considers Bitcoin a fraud. It tumbled last night below $4000

(courtesy zero hedge)
ii)Craig Hemke talks about the suppression schemes by the bankers on gold and silver

( Craig Hemke/GATA)

iii)We wish all the luck in the world for these Chinese gold firms as they pursue mining in Indonesia



( Bloomberg/GATA)

iv)Hugo explains that if Mexico would not print on a silver coin its value, it will not be melted down when the peso is devalued. He claims that the value should be announced on a daily basis and that will be an excellent savings vehicle for citizens

( Hugo Salinas Price/GATA)

v)If the USA cuts off China from the SWIFT payment system, you can bet the farm that they would initiate a fully backed yuan to gold

(Bloomberg/GATA)
vi)Gold drops and the dollar rises with news of a tax plan:The USA tax plan is coming on the Sept 25.2017. This has no chance of aiding the amount of tax collections the USA will incur. They need to have a consumption tax. The lowering of the corporate tax to 15% will not solve the necessary income the country needs. In other words, with the losses from the hurricanes and already burgeoning deficits, if a tax cut comes into play, where is the money going to come from to pay for the cuts???… See David Stockman’s latest paper


( zero hedge)
vii)Early afternoon: gold rises/dollar drops on “red hot” Mueller
focusing on social media and the collusion of the Russians with respect to the USA election.please give me a break..this is beyond ridiculous!( zero hedge)

viii)One of many traders that will be arrested and charged with rigging gold/silver etc.
(courtesy zerohedge)
10. USA Stories

i)Twenty Five percent of all homes in the Florida Keys have been destroyed. Almost all homes have some damage. In the State of Florida 9 million people are without power. We have 750,000 people without power in the Carolinas and Georgia.

( zerohedge)

ii)the Fed is not going to like this: PPI fails expectations: the Fed needs for inflation especially in wages to rise for their models to work

( zerohedge)

iii)Senator Heidi Heitkamp, democrat senator states that somebody must go to jail for the severe breach at Equifax

( zerohedge)

iv)Two more American diplomats affected by the mysterious sonic attacks in Cuba

( zerohedge)
Let us head over to the comex:

The total gold comex open interest ROSE BY A MONSTROUS 6,487 CONTRACTS UP to an OI level of 580,606 DESPITE THE LOSS IN THE PRICE OF GOLD ($2.95 LOSS IN YESTERDAY’S trading). THE GAIN IN OPEN INTEREST FOR THE COMEX GOLD COMPLEX NO DOUBT CAUSED OUR BANKERS TO ORCHESTRATE ANOTHER FLASH CRASH AND CONTINUE WITH THEIR 3RD CONSECUTIVE DAY OF TORMENT

Result: a HUGE SIZED open interest INCREASE with a DROP in the price of gold. CONTINUAL BANKER TORMENT TODAY WITH ANOTHER FLASH CRASH.

The new non active September contract month saw it’s OI FALL BY 4 contracts DOWN to 816. We had 0 notices filed UPON YESTERDAY so we LOST 4 contracts or an additional 400 oz will NOT stand AND 4 EFP’s WERE ISSUED which entitles them to a fiat bonus plus a deliverable contract on a different exchange and most likely that would be London. These are private deals so we do not get to see the makeup of these deals only the number of EFP’s issued.

The next active contract month is Oct and here we saw a LOSS of 1585 contracts DOWN to 39,909.

The November contract saw A GAIN OF 20 contracts UP to 379.

The very big active December contract month saw it’s OI GAIN OF 6,285 contracts UP to 457,657.

We had 3 notice(s) filed upon today for 300 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now for the wild silver comex results. Total silver OI ROSE BY A STEADY 1,031 CONTRACTS FROM 187,176 UP TO 188,207 DESPITE YESTERDAY’S 1 CENT LOSS IN PRICE. DESPITE THE CONSTANT TORMENT FROM THE BANKERS, OUR LONGS REMAIN RESOLUTE DETERMINED TO TAKE ON OUR BANKERS AS HARDLY ANY SILVER LEAVES FELL FROM THE SILVER TREE. DEMAND FOR PHYSICAL SILVER REMAINS EXTREMELY HIGH AS AGAIN THE AMOUNT STANDING FOR DELIVERY INCREASED AGAIN AND THIS TIME BY A WHOPPING 905,000 OZ. WE HAVE BEEN WITNESSING THIS PHENOMENA FOR THE PAST 5 MONTHS. (SEE BELOW).
RESULT: A STEADY INCREASE IN OI AT THE COMEX DESPITE A 1 CENT LOSS IN PRICE. DEMAND FOR PHYSICAL SILVER RISES AGAIN AS THE AMOUNT STANDING INCREASES FOR THE SEPT CONTRACT MONTH BY A WHOPPING 905,000 OZ. THE BANKERS THIS TIME WERE RETICENT TO SUPPLY THE NECESSARY SHORT PAPER AS THEY COULD NOT CAUSE MORE SILVER LEAVES (OI) TO FALL!!. JUDGING FROM THE TRADING IN GOLD/SILVER TODAY, THE BANKERS SEEM TRAPPED AS THEY TRY TO GET OUT OF THEIR HUGE PAPER SHORTS.

We are now in the active contract month of September (and the last active month until December). Today we witness Sept. OI GAIN OF 23 contacts UP to 1077. We had 158 notices filed yesterday, so we again gained 181 contracts or an additional 905,000 oz will stand for delivery. This phenomenon has been happening in silver for the past 5 months whereby the amount standing increases on each and every delivery day. This queue jumping highlights the huge demand for silver that we have been witnessing around the globe. The next non active contract month for silver after September is October and here the OI LOST 29 contacts DOWN TO 1076. November saw a GAIN of 3 contract(s) and thus ADVANCING to 62. After November, the NEXT big active contract month is December and here the OI LOST 947 contracts DOWN to 159,583 contracts.

We had 264 notice(s) filed for 1,320,000 oz for the SEPT. 2017 contract

VOLUMES: for the gold comex

ESTIMATED VOLUME TODAY: 298,801 CONTRACTS WHICH IS VERY GOOD

YESTERDAY’S confirmed volume was 303,169 which is VERY GOOD

volumes on gold are STILL HIGHER THAN NORMAL!
INITIAL standings for SEPTEMBER

Sept.13/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
NIL oz
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
NIL oz
No of oz served (contracts) today

3 notice(s)
300 OZ
No of oz to be served (notices)
816 contracts
(81600 oz)
Total monthly oz gold served (contracts) so far this month
54 notices
5400 oz
0.1679 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 9,193.0 oz
Today we HAD 0 kilobar transaction(s)/
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 0 customer deposit(s):
total customer deposits; NIL oz
We had 0 customer withdrawal(s)
total customer withdrawals; NIL oz
we had 0 adjustment(s)
For SEPT:

Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 3 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
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To calculate the initial total number of gold ounces standing for the SEPTEMBER. contract month, we take the total number of notices filed so far for the month (54) x 100 oz or 5400 oz, to which we add the difference between the open interest for the front month of SEPT. (816 contracts) minus the number of notices served upon today (3) x 100 oz per contract equals 87,000 oz, the number of ounces standing in this active month of SEPT.

Thus the INITIAL standings for gold for the SEPTEMBER contract month:
No of notices served so far (54) x 100 oz or ounces + {(816)OI for the front month minus the number of notices served upon today (3) x 100 oz which equals 87,000 oz standing in this active delivery month of SEPTEMBER (2.706 tonnes)
We LOST 4 contracts or 400 oz will NOT stand and 4 EFP’s were issued for September which gives the long holder a fiat bonus plus a deliverable product on another exchange and that most likely will be London.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Total dealer inventory 741,512.035 or 23.064 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,696,919.037 or 270.510 tonnes

Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 270.44 tonnes for a loss of 33 tonnes over that period. Since August 8/2016 we have lost 34 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best.
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
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 at MF Global.

IN THE LAST 13 MONTHS 84 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
September initial standings
Sept 13 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
25,318.530 oz
CNT
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
94,304.196 oz
Brinks
No of oz served today (contracts)
264 CONTRACT(S)
(1,320,000 OZ)
No of oz to be served (notices)
813 contracts
(4,065,000 oz)
Total monthly oz silver served (contracts) 4898 contracts (24,490,000 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 4,303,738.7 oz
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil oz
we had 1 customer withdrawal(s):
i) Out of CNT: 25,318.530 oz
TOTAL CUSTOMER WITHDRAWALS: 25,318.530 oz
We had 0 Customer deposit(s):
***deposits into JPMorgan have stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
total customer deposits: 25,318.530 oz

we had 2 adjustment(s)
i) Out of Brinks: 319,407.830 oz was transferred from the customer into the dealer account of Brinks
ii) out of Delaware: 512702.824 oz was adjusted out of the customer and into the dealer account of Delaware
The total number of notices filed today for the SEPTEMBER. contract month is represented by 264 contract(s) for 1,320,000 oz. To calculate the number of silver ounces that will stand for delivery in SEPTEMBER., we take the total number of notices filed for the month so far at 4898 x 5,000 oz = 24,490,000 oz to which we add the difference between the open interest for the front month of SEPT (1077) and the number of notices served upon today (264) x 5000 oz equals the number of ounces standing.



.

Thus the INITIAL standings for silver for the SEPTEMBER contract month: 4898 (notices served so far)x 5000 oz + OI for front month of SEPTEMBER(1077 ) -number of notices served upon today (264)x 5000 oz equals 28,555,000 oz of silver standing for the SEPTEMBER contract month. This is excellent for this active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver demanded daily increase right from the get go. (ON AUGUST 31 (FIRST DATE NOTICE) WE HAD 20.15 MILLION OZ STAND. THUS IN THE FIRST 13 DAYS OF SEPTEMBER, WE HAVE HAD A HUGE INCREASE OF 8.5 MILLION OZ STAND FOR DELIVERY AS DEALERS JUMP QUEUE TRYING TO FIND THE NECESSARY SILVER TO SUPPLY TO OUR LONGS.)

WE HAD AN INCREASE OF 181 CONTRACTS OR AN ADDITIONAL 905,000 OZ OF SILVER WILL STAND FOR DELIVERY IN THIS ACTIVE CONTRACT MONTH OF SEPTEMBER. THIS HAS BEEN THE 5th CONSECUTIVE MONTH THAT WE HAVE WITNESSED EITHER AN INCREASE (95% OF THE TIME) OR STANDING PAT (THE OTHER 5%). WE HAVE NOT HAVE A DECREASE IN STANDING I.E. AS THEY DELIVERY MONTH PROCEEDS NOBODY WISHES AN EFP PRODUCT IN EXCHANGE FOR A DEPARTING LONG.SOMEBODY BIG WANTS SILVER IN A VERY BIG WAY.
Last yr on the first day notice for the Sept silver 2016 contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/

Volumes: for silver comex
ESTIMATED VOLUME TODAY: 87,563 CONTRACTS WHICH IS HUGE
YESTERDAY’s confirmed volume was 68,650 contracts which is EXCELLENT
YESTERDAY’S CONFIRMED VOLUME OF 68,650 CONTRACTS WHICH EQUATES TO 343 MILLION OZ OF SILVER OR 49% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.

Total dealer silver: 43.707 million (close to record low inventory
Total number of dealer and customer silver: 217.702 million oz
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 and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 5.3 percent to NAV usa funds and Negative 5.2% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.3%
Percentage of fund in silver:37.7%
cash .+0.0%( Sept 12/2017)
2. Sprott silver fund (PSLV): STOCK NAV FALLS TO -0.29% (Sept 12/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.48% to NAV (Sept 12/2017 )
Note: Sprott silver trust back into NEGATIVE territory at -0.29%/Sprott physical gold trust is back into NEGATIVE/ territory at -0.48%/Central fund of Canada’s is still in jail but being rescued by Sprott.

Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)
Sprott makes hostile $3.1 billion bid for Central Fund of Canada

Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches

From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017

http://www.cbc.ca/news/canada/calgary/sprott-takeover-bid-central-fund-c…

Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.

The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.

The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.

“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.

If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.

“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”

Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.

The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.

Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.

Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.

end
And now the Gold inventory at the GLD

Sept 13/late last night a huge 4.14 tonnes of gold was added to the GLD inventory/inventory rests at 838.64 tonnes.

Sept 12/as of 5: 40 pm est, no changes in gold inventory at the GLD/Inventory rests at 834.50 tonnes

Sept 11/Today we had a rather large 2.37 tonnes of gold removed from the GLD/Inventory rests at 834.50 tonnes

Sept 8/we had a tiny withdrawal of .34 tonnes and probably that would be to pay for fees like insurance etc.

Inventory rests at 836.87 tonnes

Sept 7./no changes in gold inventory at the GLD/Inventory rests at 837.21 tonnes

SEPT 6/WE HAD ANOTHER DEPOSIT OF 5.91 TONNES INTO THE GLD/IN THE LAST TWO DAYS: 20.69 TONNES/INVENTORY RESTS AT 837.21 TONES

Sept 5/we had a huge deposit of 14.78 tonnes into the GLD/Inventory rests at 831.21 tonnes

Sept 1/ no change in gold inventory at the GLD/Inventory rests at 816.43 tonnes

AUGUST 31/no change in gold inventory at the GLD. Inventory rests at 816.43 tonnes

August 30/another deposit of 2.07 tonnes into the GLD inventory/inventory rests at 816.43 tonnes

August 29/a huge deposit of 9.16 tonnes of probable paper gold/inventory rests at 814.36 tonnes

AUGUST 28/a huge deposit f 5.91 tonnes of gold into GLD inventory/inventory rests at 805.20 tonnes

AUGUST 25/NO CHANGE IN GOLD INVENTORY/INVENTORY RESTS AT 799.29 TONNES

AUGUST 24/no change in gold inventory at the GLD/inventory rests at 799.29 tonnes

August 23/no change in gold inventory at the GLD/Inventory rests at 799.29 tonnes

August 22/no change in gold inventory at the GLD/Inventory rests at 799.29 tonnes/

AUGUST 21/this is good!! a huge deposit of gold into the GLD to the tune of 3.85 tonnes/Inventory rests at 799.29 tonnes

August 18/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 795.44 TONNES

August 17/late last night, a deposit of 4.43 tonnes of gold at the GLD/inventory rests at 795.44 tonnes/the bleeding of gold has stopped.

August 16/no change in gold inventory at the GLD. Inventory rests at 791.01 tonnes

August 15/no change in gold inventory at the GLD/inventory rests at 791.01 tonnes

August 14/this is good!!: a gain of 4.14 tonnes of gold into the GLD inventory/the removal of GLD gone to the east has now stopped probably because there is no physical to send/inventory rests at 791.01 tonnes

August 11/no change in gold inventory/Inventory rests at 786.87 tonnes

August 7/no changes in gold inventory at the GLD/Inventory rests at 787.14 tonnes

AUGUST 4/ANOTHER LOSS OF 4.48 TONNES OF GOLD FROM GLD INVENTORY/INVENTORY RESTS AT 787.14 TONNES.THIS IS A HUGE CRIME SCENE!!

August 3/no change in gold inventory at the GLD/Inventory rests at 791.88 tonnes

August 2/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 791.88 TONNES

Aug 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 791.88 TONNES

July 31/NO CHANGES AT THE GLD/INVENTORY RESTS AT 791.88 TONNES

July 28/ANOTHER MASSIVE WITHDRAWAL OF 3.54 TONNES OF GOLD WITH GOLD UP $9.15/INVENTORY RESTS AT 791.88 TONNES
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Sept 13 /2017/ Inventory rests tonight at 838.64 tonnes
*IN LAST 231 TRADING DAYS: 102.46 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 167 TRADING DAYS: A NET 54.97 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 23.58 TONNES HAVE BEEN ADDED.

end
Now the SLV Inventory

Sept 13/no change in silver inventory at the SLV/Inventory rests at 327.088 million oz/

Sept 12.2017/no change in silver inventory at the SLV/Inventory rests at 327.088 million oz/

Sept 11.2017: no change in silver inventory at the SLV/Inventory rests at 327.088 million oz/

Sept 8/no change in silver inventory at the SLV/Inventory rests at 327.088 million oz/

Sept 7/STRANGE!! WITH DEMAND FOR SILVER HUGE WE HAD ANOTHER 945,000 OZ WITHDRAWN. NO DOUBT THAT THIS IS CRIMINAL ACTIVITY AS SILVER IS WITHDRAWN AND USED TO CONTAIN THE RISE IN PRICE/INVENTORY RESTS AT 327.088 MILLION OZ/

SEPT 6/STRANGE WITH A HUGE DEMAND FOR SILVER THROUGHOUT THE WORLD THESE DOORKNOBS WITHDRAW A HUGE 3.148 MILLION OZ OF SILVER FROM THE SLV/INVENTORY RESTS AT 328.033 MILLION OZ

Sept 5/2017: no change in silver inventory at the SLV/Inventory rests at 331.178 million oz/

Sept 1/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 331.178 MILLION OZ

AUGUST 31/STRANGE!! a huge withdrawal of 2.019 million oz with silver up today./INVENTORY RESTS AT 331.178 MILLION OZ

August 30/no change in silver inventory at the SLV/inventory rests at 333.178 million oz

August 29/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 333.178 MILLION OZ

AUGUST 28/no change in silver inventory at the SLV/Inventory rests at 333.178 million oz/

AUGUST 25/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 333.178 MILLION OZ

AUGUST 24/A HUGE WITHDRAWAL OF 1.229 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 333.178 MILLION OZ

August 23/no change in silver inventory at the SLV/Inventory rests at 334.407 million oz

August 22/no change in silver inventory at the SLV/inventory rests at 334.407 million oz.

AUGUST 21/no change in silver inventory/inventory rests at 334.407 million oz/

August 18/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REST AT 334.407 MILLION OZ

August 17/A WITHDRAWAL OF 1.418 MILLION OZ LEAVES THE VAULTS OF THE SLV (WITH SILVER UP 25 CENTS YESTERDAY?)/INVENTORY RESTS AT 334.407 MILLION OZ

August 16/no change in silver inventory at the SLV/Inventory rests at 335.825 million oz/

August 15/no change in silver inventory at the SLV/Inventory rests at 335.825 million oz.

August 14./no change in silver inventory/inventory rests at 335.825 million/

August 11/no change in silver inventory tonight. However we lost 3,781 million oz from Tuesday through Thursday. Inventory rests at 335.825 million oz/

August 7/no change in silver inventory at the SLV/Inventory rests at 339.606 million oz

AUGUST 4/A WITHDRAWAL OF 945,000 OZ/INVENTORY RESTS AT 339.606 MILLION OZ

August 3/A WITHDRAWAL OF 1,181,000 OZ FROM THE SLV/INVENTOR RESTS AT 340.551 MILLION OZ/

August 2/NO CHANGES IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 341.732 MILLION OZ/

August 1/A HUGE WITHDRAWAL OF 945,000 OZ/INVENTORY RESTS AT 341.732 MILLION OZ/

July 31/no change in silver inventory at the SLV/inventory rests at 342.677 million oz

July 28/ A HUGE WITHDRAWAL OF 1.15 MILLION OZ OF SILVER LEAVES THE SLV DESPITE SILVER BEING UP 11 CENTS TODAY/INVENTORY RESTS AT 342.677 MILLION OZ

Sept 13.2017:
Inventory 327.088 million oz
end

6 Month MM GOFO

Indicative gold forward offer rate for a 6 month duration
+ 1.37%
12 Month MM GOFO
+ 1.54%
30 day trend

end

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