Wednesday, August 16, 2017 12:00:05 AM
Raid on the Run Data
Good Morning
MMgys
Are we having Fun Yet
August 15/ANOTHER RAID BY THE CROOKED BANKERS: GOLD DOWN $11.00 AND SILVER DOWN 44 CENTS/KIM AND TRUMP SILENT ON THE NORTH KOREAN POWDER KEG/CHINA REINS IN ITS SHADOW BANKING SECTOR AND WE SHOULD EXPECT BANK RUNS SHORTLY/CARNAGE IN THE USA RESTAURANT BUSINESS AND BRICKS AND MORTAR/
August 15, 2017 · by harveyorgan · in Uncategorized · 1 Comment
GOLD: $1273.70 DOWN $11.00
Silver: $16.70 DOWN 44 cent(s)
Closing access prices:
Gold $1271.90
silver: $16.64
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: $1281.93 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1274.90
PREMIUM FIRST FIX: $5.02
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SECOND SHANGHAI GOLD FIX: $1279.81
NY GOLD PRICE AT THE EXACT SAME TIME: $1274.15
Premium of Shanghai 2nd fix/NY:$5.66
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LONDON FIRST GOLD FIX: 5:30 am est $1274.60
NY PRICING AT THE EXACT SAME TIME: $1274.80
LONDON SECOND GOLD FIX 10 AM: $1282.30
NY PRICING AT THE EXACT SAME TIME. $1282.30
For comex gold:
AUGUST/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 26 NOTICE(S) FOR 2600 OZ.
TOTAL NOTICES SO FAR: 4547 FOR 454700 OZ (14.14 TONNES)
For silver:
AUGUST
70 NOTICES FILED TODAY FOR
350,000 OZ/
Total number of notices filed so far this month: 900 for 4,500,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
end
Today, the bankers succeeded in their raid on both gold and silver. The open interest in silver continues to fall despite a rise in price (yesterday) and it sure looks like banker capitulation as they try to extricate themselves from their mess. It will be important to see how much open interest in both gold and silver evaporated. It will get the numbers late tonight (after 11 pm) and I will insert them between the xxx’s
xxxxxxxxx
preliminary OI for tonight 11 pm est
GOLD: 480,069 DOWN ONLY 74
SILVER: 188,266 DOWN ONLY 639
xxxxxxx
Let us have a look at the data for today
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In silver, the total open interest SURPRISINGLY FELL AGAIN BY 573 contracts from 189,478 DOWN TO 188,905 DESPITE THE RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 6 CENT(S) AND THE FAILED RAID. SIMPLE EXPLANATION SAME STORY AS YESTERDAY: THE BANKERS HAVE CAPITULATED….THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE HAVING EXTREME DIFFICULTY IN SUPPLYING ADDITIONAL SHORT PAPER AND LONGS CONTINUE TO ADVANCE TAKING ON THE BANKER SHORTS. THE BATTLE OF WATERLOO WILL BE FAST APPROACHING
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.945 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 70 NOTICE(S) FOR 350,000 OZ OF SILVER
In gold, the open interest FELL by A TINY 772 WITH the FALL in price of gold ($3.10 GAIN YESTERDAY.) The new OI for the gold complex rests at 480,143. A raid was called upon by the bankers and it failed. The bankers supplied the short paper but just as many longs entered the arena as banker shorts covered. Thus a small gain in open interest.
we had: 26 notice(s) filed upon for 2600 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
Today, no changes in gold inventory:
Inventory rests tonight: 791.01 tonnes
IN THE LAST 22 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $35.85 .
SLV
Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 335.825 MILLION OZ
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL BY 573 contracts from 189,478 down to 188,905 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL RISE IN PRICE AND FOR THE FIRST TIME WE ARE WITNESSING BANKER CAPITULATION. BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN AND WILLING TO TAKE ON OUR CROOKED BANKERS.
(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 MONDAY night/TUESDAY morning: Shanghai closed UP 13.90 POINTS OR 0.43% / /Hang Sang CLOSED DOWN 75.27 POINTS OR 0.28% The Nikkei closed UP 216.21 POINTS OR 1.11%/Australia’s all ordinaires CLOSED UP 0.43%/Chinese yuan (ONSHORE) closed DOWN at 6.6817/Oil DOWN to 47.37 dollars per barrel for WTI and 50.36 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades 6.6930 yuan to the dollar vs 6.6817 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA//USA
Mattis warns that the North Korean standoff could escalate into war very quickly
( zero hedge)
ii)Kim is briefed on the Guam attack plan but he then backs off his threat of an imminent missile launch
( zerohedge)
iii)We now have independent scientists who now claim that the payload was light and thus the trajectory of North Korea’s latest launch was higher and thus longer that it ought to be. Basically these guys suggest that North Korea does not have the capability to hit the USA(courtesy zerohedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)The USA is angry at China’s theft of intellectual property. However they have put off tariffs for a year as Wilbur Ross is set to study the situation and report back. China is threatening retaliation if the uSA damages trade ties
( zero hedge)
ii)Approximately 2 months ago China announced that it was going to rein in its shadow banking industry which totals 9 trillion USA or approximately equates to its GDP. Last night the POBC announced a 64 billion yuan (9.58 billion USA) drop in outstanding loans. While it looks like the move by the POBC is bearing fruit, the contraction will mostly likely spur a run on all of its banks
( zerohedge)
4. EUROPEAN AFFAIRS
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)IRAN
It seems like Trump is gearing up to end the nuclear agreement with Iran in October but there will be consequences with its European partners
(courtesy ISN Security Watch/OilPrice.com)
ii)To add to the mess globally, Iran will now send a warship flotilla to the West Atlantic as they will build their arsenal. No doubt they are using the hostage money to build up their weapons.
( zerohedge)
6 .GLOBAL ISSUES
(courtesy zero hedge)
7. OIL ISSUES
i)As rig counts continue to rise, production seems to be rising in the Permian basin. Will this push oil prices down to 40$ per barrel
( I. Slav/Oil Price.com)
ii)WTI lifts towards $48.00 after a huge draw
( zerohedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Overnight, bitcoin after reaching $4400 drops 500 to hit $3900
( zerohedge)
ii)James Turk seems to support my thinking that central bank suppression is about to break for silver
( James Turk/Kingworldnews)
iii)The geopolitical landscape, especially the Korean situation plus USA home grown problems is causing the dollar’s fall and this may precipitate into further declines
( Kimberley/South China Morning post, Hong Kong)
10. USA Stories
i)I have been highlighting to you the 3 major debt categories inside household debt for uSA citizens:
i) revolving credit (credit card debt)
ii) student loan debt
iii) auto loan debt
although mortgages represents the largest category for household debt, it is the above 3 that are signalling trouble for citizens. The Fed has now sounded the alarm bell on the above
( zerohedge)
ii)the USA restaurant business is now in a mess as people just shy away from eating out. As far are discretionary spending is concerned, this seems to be the first to take a hit.
Can someone explain then how could the BLS report an increase in bartenders and waitresses with this going on?
( zero hedge)
iii)We have been also highlighting to you the plight of used car prices. The lower the prices for used car means trouble selling brand new cards. They have to offer incentives in order to sell.
e.g. a brand new car selling for $40,000 as 0 dollars down and 80 months at 0 interest
real problems in the auto sector
( zerohedge)
iv) Retail sales rebound in July but it must be due to huge incentives offered by the auto dealers and dept stores
( zero hedge)
v)One analyst just does not believe those retail numbers today
( zerohedge)
vi)Take this with a grain of salt: the New York Manufacturing Fed surges the highest in 3 years despite profit margins getting crushed
( NYFed Manufacturing Index/zerohedge)
vii)Bricks and Mortar operations continue on its death knell
( zerohedge)
viii)Dick’s CEO claims that the retail industry is now in panic mode as they cut prices to stay alive
( zerohedge)
ix)The CBO states that if Trump does not pay the Obamacare subsidies in 2018, then premiums will surge around 20% per year and worse: Trump will be blamed
( zerohedge)
Let us head over to the comex:
The total gold comex open interest FELL BY A tiny 772 CONTRACTS UP to an OI level of 480,143 WITH THE FALL IN THE PRICE OF GOLD ($3.10 with MONDAY’S trading). NEWBIE LONGS ENTERED THE ARENA ESPECIALLY NOTICING THE FAILED RAID IN YESTERDAY’S TRADING. THE BANKERS CONTINUE TO SUPPLY THE SHORT PAPER. NEWBIE SPEC SHORTS ARE NOW COMPLETELY OUT OF THEIR POSITIONS. AS I MENTIONED YESTERDAY: “THE HUGE RISE IN OPEN INTEREST THESE PAST COUPLE OF DAYS WILL BE ADDITIONAL FODDER FOR THE CROOKS TO RAID IN THE COMING WEEK.”
We are now in the contract month of August and it is the 3rd best of the delivery months after December and June.
The active August contract LOST 187 contract(s) to stand at 1069 contracts. We had 34 notices filed on YESTERDAY so we LOST A HUGE 153 contracts or an additional 15,300 oz will NOT stand at the comex and 153 EFP’s were issued which entitles the long holder to a fiat bonus plus a futures contract and most probably that would be a London based forward.
The non active September contract month saw it’s OI LOSE 141 contracts DOWN to 1444.
The next active contract month is Oct and here we saw a GAIN of 520 contracts UP to 50,726.
The very big active December contract month saw it’s OI GAIN 1425 contracts UP to 373,043.
We had 26 notice(s) filed upon today for 2600 oz
For those keeping score: in the upcoming front delivery month of August:
LAST YEAR WE HAD A MONSTROUS 44.7 TONNES OF GOLD INITIALLY. BY THE CONCLUSION OF THE AUGUST CONTRACT MONTH 44.358 TONNES STOOD FOR DELIVERY.
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And now for the wild silver comex results. Total silver OI SURPRISINGLY FELL BY 573 CONTRACTS FROM 189,478 DOWN TO 188,905 DESPITE YESTERDAY’S 4 CENT GAIN. THERE IS NO QUESTION THAT WE ARE HAVING CONTINUAL BANKER CAPITULATION AS THEIR HUGE SHORTS IN SILVER ARE CHOKING THEM TO DEATH. I HAVE WARNED YOU, THE NOOSE IS GETTING TIGHTER AROUND OUR FRIENDLY BANKERS’ NECKS. NO DOUBT THAT THE HUGE DELAY IN SILVER DELIVERIES (IN LONDON) ACCOMPANIED WITH THE HUGE GLOBAL DEMAND FOR SILVER IS FINALLY WEIGHING IN ON OUR CROOKS. NEWBIE SPEC LONGS ENTERED THE SILVER COMPLEX YESTERDAY WITNESSING THE FAILED RAID. ON THE SUPPLY SIDE: THE BANKERS WERE JUST PLAIN FRIGHTENED TO SUPPLY THE NECESSARY PAPER. THUS A DECLINE IN SILVER OI WITH A SMALL SIZED RISE IN PRICE.
We are now in the next big non active silver contract month of August and here the OI ROSE 21 contracts UP TO 140. We had 20 notice(s) filed yesterday. Thus we GAINED A MONSTROUS 41 contract(s) or an additional 205,000 oz will stand for delivery in this non active month of August and AGAIN zero EFP’s were issued for the August contract month. Please note that in gold we continually see EFP’s issued but not in silver!!
The next active contract month is September (and the last active month until December) saw it’s OI fall by 2075 contacts down to 101,652. The next non active contract month for silver after September is October and here the OI gained 16 contacts up TO 112. After October, the big active contract month is December and here the OI GAINED by 1,598 contracts UP to 76,332 contracts.
We had 70 notice(s) filed for 350,000 oz for the AUGUST 2017 contract
VOLUMES: for the gold comex
YESTERDAY’S confirmed volume was 249,054
volumes on gold are STILL HIGHER THAN NORMAL!
Initial standings for AUGUST
August 15/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
26 notice(s)
2600 OZ
No of oz to be served (notices)
1043 contracts
(104,300 oz)
Total monthly oz gold served (contracts) so far this month
4547 notices
454,700 oz
14.14 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 19,750.2 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 AUGUST:
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 26 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 AUGUST. contract month, we take the total number of notices filed so far for the month (4547) x 100 oz or 454,700 oz, to which we add the difference between the open interest for the front month of AUGUST (1069 contracts) minus the number of notices served upon today (26) x 100 oz per contract equals 559,000 oz, the number of ounces standing in this active month of AUGUST.
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served so far (4547) x 100 oz or ounces + {(1069)OI for the front month minus the number of notices served upon today (26) x 100 oz which equals 559,000 oz standing in this active delivery month of AUGUST (17.387 tonnes)
we lost 153 contracts or an additional 15300 oz will not stand for delivery and 153 EFP’s for August were issued.
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Total dealer inventory 758,510.492 or 23.59 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,632,167.752 or 268.49 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 268.49 tonnes for a loss of 34 tonnes over that period. Since August 8/2016 we have lost 85 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 12 MONTHS 85 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
August initial standings
August 15 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
94,277.15 oz
Brinks
CNT
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
2943.700
oz
CNT
No of oz served today (contracts)
70 CONTRACT(S)
(350,000 OZ)
No of oz to be served (notices)
70 contracts
( 350,000 oz)
Total monthly oz silver served (contracts) 900 contracts (4,500,000 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 2,150,413.6 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 3 customer withdrawal(s):
ii) out of Brinks: 1,000.000 oz ???
ii) out of Delaware: 3038.483 oz
iii) out of Scotia: 741,685.48 oz
TOTAL CUSTOMER WITHDRAWALS: 745,723.963 oz
We had 2 Customer deposit(s):
i) Into Brinks: 235,300.328 oz
ii) Into Scotia: 642,090.95
***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: 877,391.270 oz
we had 0 adjustment(s)
The total number of notices filed today for the AUGUST. contract month is represented by 70 contract(s) for 350,000 oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at 900 x 5,000 oz = 4,500,000 oz to which we add the difference between the open interest for the front month of AUGUST (140) and the number of notices served upon today (70) x 5000 oz equals the number of ounces standing
.
Thus the INITIAL standings for silver for the AUGUST contract month: 900 (notices served so far)x 5000 oz + OI for front month of AUGUST(140 ) -number of notices served upon today (70)x 5000 oz equals 4,850,000 oz of silver standing for the AUGUST contract month. This is extremely high for a non active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver increases daily right from the get go.
We GAINED ANOTHER 21 contracts or an additional 205,000 oz wishes to stand for delivery in this non active month of August and 0 EFP’s were issued for the silver August month.
At this point in the delivery cycle last year on August 15/2016 we had 108,939 contracts standing vs this yr at 101,974.
Last yr on the first day notice for the Sept silver contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/
Volumes: for silver comex
YESTERDAY’s confirmed volume was 81,192 contracts which is OUT OF THIS WORLD
FRIDAY’S CONFIRMED VOLUME OF 108 994 CONTRACTS WHICH EQUATES TO 405 MILLION OZ OF SILVER OR 58% 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: 38.348 million (close to record low inventory
Total number of dealer and customer silver: 216.113 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 7.4 percent to NAV usa funds and Negative 7.7% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.4%
Percentage of fund in silver:37.6%
cash .+0.0%( August 15/2017)
2. Sprott silver fund (PSLV): STOCK NAV FALLS TO +0.53% (August 15/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.50% to NAV (August 15/2017 )
Note: Sprott silver trust back into POSITIVE territory at +0.53/Sprott physical gold trust is back into NEGATIVE/ territory at -0.50%/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
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
July 27/LATE LAST NIGHT, A HUGE WITHDRAWAL OF 5.03 TONNES WITH GOLD UP $10.45 ON THE DAY/INVENTORY RESTS AT 795.42 TONNES
July 26/NO CHANGE IN GLD INVENTORY WITH GOLD DOWN $2.55/INVENTORY RESTS AT 800.45 TONNES
July 25/A MASSIVE 9.17 TONNES OF GOLD WITHDRAWN FROM THE GLD/INVENTORY RESTS AT 800.45 TONNES
July 24/A massive 9.62 tonnes withdrawal and yet the price remains constant (down only 25 cents)..inventory drops to 809.62 tonnes
July 21/with gold up $8.75 again, we had no changes in gold inventory at the GLD/inventory rests at 816.13 tonnes
July 20/WITH GOLD UP AGAIN TODAY ($3.50) WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 816.13 TONNES
jULY 19/STRANGE!! AGAIN WITH GOLD UP $0.50 WE HAD ANOTHER HUGE 5.32 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 816.13 TONNES THIS GOLD IS HEADING TO SHANGHAI
July 18/STRANGE AGAIN/WITH GOLD UP $7.50 WE HAD ANOTHER HUGE 5.62 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 821.45 TONNES
July 17/strange again! with gold up $4.20 we had another huge withdrawal of 1.77 tonnes/inventory rests at 827.07 tonnes
July 14/strange@!!with gold up $12.00 today, we had a huge withdrawal of 3.55 tonnes/inventory rests at 828.84 tonnes
July 13/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
JULY 12/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
July 11/strange!@! we had a big withdrawal of 2.96 tonnes despite gold’s advance today/inventory rests tonight at 832.39 tonnes
July 10/no changes in gold inventory at the GLD/inventory rests at 835.35 tonnes
July 7/a massive withdrawal of 5.32 tonnes of paper gold were removed and this was used in the attack today/inventory rests at 835.35 tonnes
July 6/no changes in tonnage at the GLD/Inventory rests at 840.67 tonnes
July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST
July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES
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August 15 /2017/ Inventory rests tonight at 791.01 tonnes
*IN LAST 213 TRADING DAYS: 158.87 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 151 TRADING DAYS: A NET 1.44 TONNES HAVE NOW BEEN WITHDRAWN FROM GLD INVENTORY.
*FROM FEB 1/2017: A NET 18.25 TONNES HAVE BEEN WITHDRAWN.
end
Now the SLV Inventory
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
July 27/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ WITH SILVER UP 13 CENTS TODAY.
July 26/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ
July 25/A MASSIVE 3.309 MILLION OZ OF INVENTORY WITHDRAWN FROM THE SLV DESPITE SILVER’S 10 CENT RISE TODAY.
July 24/no change in silver inventory despite its 4 cent drop/inventory remains at 347.121 million oz
July 21/STRANGE! WITH SILVER UP AGAIN TODAY (11 CENTS), NO CHANGE IN SILVER INVENTORY AT THE SLV/inventory 347.121 million oz/
July 20/STRANGE! WITH SILVER UP AGAIN TODAY, THE SLV INVENTORY LOWERS BY 945,000 OZ/INVENTORY RESTS AT 347.121 MILLION OZ/
July 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 348.066 MILLION OZ
July 18/a huge 946,000 oz withdrawal from the SLV despite silver’s 16 cent gain!
Inventory rests at 348.066 million oz
July 17/no change in silver inventory at the SLV/Inventory rests at 349.012 million oz
July 14/no change in silver inventory/inventory rests at 349.012 million oz/
July 13/no change in silver inventory/inventory at the SLV rests at 349.012 million oz/
JULY 12/another massive 1.986 million oz of silver added into the SLV/inventory rests at 349.012 million oz/the last 3 days saw 7.281 million oz added into the SV
July 11/ANOTHER MASSIVE INCREASE OF 2.364 MILLION OZ into the SLV inventory/inventory rests at 347.026 million oz
July 10/ A HUGE INCREASE OF 2.931 MILLION OZ OF SILVER DESPITE THE EARLY HIT ON SILVER THIS MORNING/INVENTORY RESTS AT 344.662 MILLION OZ.
July 7/Strange: no change in inventory (compare that with gold) Inventory rests at 341.731 million oz
July 6/ANOTHER MASSIVE DEPOSIT OF 2.126 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 341.731 MILLION OZ.
July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ
July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.
August 15.2017:
Inventory 335.825 million oz
end
6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration
+ 1.32%
12 Month MM GOFO
+ 1.48%
30 day trend
end
Major gold/silver trading/commentaries for TUESDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Diversify Into Gold Urges Dalio on Linkedin – “Militaristic Leaders Playing Chicken Risks Hellacious War”
By Mark O’Byrne August 15, 2017 0 Comments
– Don’t let “traditional biases” stop you from diversifying into gold – Dalio on Linkedin
– “Risks are now rising and do not appear appropriately priced in” warns founder of world’s largest hedge fund
– Geo-political risk from North Korea & “risk of hellacious war”
– Risk that U.S. debt ceiling not raised; technical US default
– Safe haven gold likely to benefit by more than dollar, treasuries
– Investors should allocate at least 5% to 10% of assets to gold
– “If you don’t have 5-10% of your assets in gold as a hedge, we’d suggest that you relook at this”
– “If you do have an excellent analysis of why you shouldn’t have such an allocation to gold, we’d appreciate you sharing it with us …”
Image courtesy of Quotefancy
by Ray Dalio via Linkedin
There are returns, and there are risks. We think of them individually, and then we combine them into a portfolio.
We think of returns and opportunities as coming from those things we’d bet on, and we think of risks as the adverse market consequences of us being wrong due to our being out of balance. We start with our balanced beta portfolio—i.e., that portfolio that would most certainly fund our intended uses of the money.
Everyone should have their own based on their own projected uses of money, though more generally, it’s our All Weather portfolio.
We then create a balanced portfolio of opportunity/alpha bets based on what we think is likely to happen. We then combine them.
We bet on the events/outcomes that we think we have an edge in understanding. For events/outcomes where we don’t think we have a particular edge—e.g., political events—we aim to construct our portfolio to be relatively neutral or balanced to those risks.
Risk and Volatility
As a rule, periods of lower risk/volatility tend to lead to periods of greater risk/volatility. That is reflected in our aggregate market volatility gauge (see below), and markets are pricing in volatility to remain low next year too.
As a related rule, people adapt to the circumstances they have experienced and are then surprised when the future is different than the past.
In other words, most people are inclined to assume that the circumstances they have recently encountered will persist, which leads them to change what they are doing to be consistent with that recently experienced environment.
For example, low-volatility periods in which credit is readily available tend to lead people to assume that it’s safe to borrow more, which leads them to lever up their positions, which contributes to greater volatility and hurts them when things change.
That appears to be the case now—i.e., prospective risks are now rising and do not appear appropriately priced in because of a) a backward looking at risk and b) corporate leveraging up has been high because interest rates are low relative to many companies’ projected ROEs and because past risks have been low.
The emerging risks appear more political than economic, which makes them especially challenging to price in.
Most immediately, during the calm of the August vacation season, we are seeing
1) two confrontational, nationalistic, and militaristic leaders playing chicken with each other, while the world is watching to see which one will be caught bluffing, or if there will be a hellacious war, and
2) the odds of Congress failing to raise the debt ceiling (leading to a technical default, a temporary government shutdown, and increased loss of faith in the effectiveness of our political system) rising.
It’s hard to bet on such things, one way or another, so the best that one can do is be neutral to such possibilities.
When it comes to assessing political matters (especially global geopolitics like the North Korea matter), we are very humble. We know that we don’t have a unique insight that we’d choose to bet on.
Most importantly, we aim to stay liquid, stay diversified, and not be overly exposed to any particular economic outcomes.
We like to hedge our bets, though we are never completely hedged. We can also say that if the above things go badly, it would seem that gold (more than other safe haven assets like the dollar, yen, and treasuries) would benefit, so if you don’t have 5-10% of your assets in gold as a hedge, we’d suggest that you relook at this.
Don’t let traditional biases, rather than an excellent analysis, stand in the way of you doing this (and if you do have an excellent analysis of why you shouldn’t have such an allocation to gold, we’d appreciate you sharing it with us).
Full article by Dalio on Linkedin here
Follow GoldCore on Linkedin here
News and Commentary
Gold inches lower as N.Korea tensions ease (Reuters.com)
Asian markets bounce back as North Korean threat recedes (MarketWatch.com)
Paulson And Other Hedge Funds Rewarded as Angst Fuels Gold (Bloomberg.com)
Bitcoin Surges Past $4,000 on Speed Breakthrough (Bloomberg.com)
Stocks Surge, Havens Retreat as Korea Fears Wane: Markets Wrap (Bloomberg.com)
Source: Bloomberg.com
S&P 500’s Biggest Pension Plans Face $382 Billion Funding Gap (Bloomberg.com)
HONG KONG IS HAVING ANOTHER GO AT GOLD TRADING – HERE’S WHY IT WILL SUCCEED THIS TIME (SCMP.com)
Collecting metal: the inner and outer worlds of jewelry, coins, bullion bits, and odd shiny things (UneNumerated)
Black Sky Hazards: Feds To Wargame “Widespread Power Outages” And “Cascading Infrastructure Failures” (ZeroHedge.com)
This Gold Coin Built the Smithsonian (SmithSonIanMag.com)
Gold Prices (LBMA AM)
15 Aug: USD 1,274.60, GBP 986.92 & EUR 1,084.05 per ounce
14 Aug: USD 1,281.10, GBP 987.34 & EUR 1,085.48 per ounce
11 Aug: USD 1,288.30, GBP 993.67 & EUR 1,096.47 per ounce
10 Aug: USD 1,278.90, GBP 985.39 & EUR 1,091.67 per ounce
09 Aug: USD 1,267.95, GBP 974.80 & EUR 1,079.79 per ounce
08 Aug: USD 1,261.45, GBP 967.78 & EUR 1,068.20 per ounce
07 Aug: USD 1,257.55, GBP 963.41 & EUR 1,065.90 per ounce
Silver Prices (LBMA)
15 Aug: USD 16.89, GBP 13.12 & EUR 14.38 per ounce
14 Aug: USD 16.97, GBP 13.09 & EUR 14.39 per ounce
11 Aug: USD 17.09, GBP 13.18 & EUR 14.53 per ounce
10 Aug: USD 17.08, GBP 13.14 & EUR 14.57 per ounce
09 Aug: USD 16.59, GBP 12.76 & EUR 14.14 per ounce
08 Aug: USD 16.39, GBP 12.57 & EUR 13.87 per ounce
07 Aug: USD 16.13, GBP 12.35 & EUR 13.67 per ounce
Recent Market Updates
– Gold Has Yet Another Purpose – Help Fight Cancer
– Gold Up 2%, Silver 5% In Week – Gundlach, Gartman and Dalio Positive On Gold
– Great Disaster Looms as Technology Disrupts White Collar Workers
– Gold Sees Safe Haven Gains On Trump “Fire and Fury” Threat
– Silver Mining Production Plummets 27% At Top Four Silver Miners
– Gold Consolidates On 2.5% Gain In July After Dollar Has 5th Monthly Decline
– Gold Coins and Bars See Demand Rise of 11% in H2, 2017
– Greenspan Warns Stagflation Like 1970s “Not Good For Asset Prices”
– What Investors Can Learn From the Japanese Art of Kintsukuroi
– Bitcoin, ICO Risk Versus Immutable Gold and Silver
– This Is Why Shrinkflation Is Making You Poor
– Gold A Good Store Of Value – Protect From $217 Trillion Global Debt Bubble
– Why Surging UK Household Debt Will Cause The Next Crisis
END
http://www.silverdoctors.com/tag/harvey-organ/
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Thank You Harvey Always Good
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MMgys
Nico Simons: LBMA is the front for gold market rigging by central banks
Submitted by cpowell on Tue, 2017-08-15 17:52. Section: Daily Dispatches
1:51p ET Tuesday, August 15, 2017
Dear Friend of GATA and Gold:
Dutch financial journalist Nico Simons today compiles admissions of central bank involvement with the gold market and concludes that the London Bullion Market Association is just a front for central bank rigging of the price of the monetary metal.
The LBMA, Simons writes, provides central banks with the secrecy necessary for market rigging and this rigging, not any free market, determines the gold price.
Simons' analysis is headlined "The LBMA Is a Ploy of the Central Bank Community" and it's posted in PDF format at Money Insights here:
http://moneyinsights.org/wp-content/uploads/20170815-The-LBMA-is-a-ploy-...
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With recession looming, central banks better make peace with negative rates
Submitted by cpowell on Tue, 2017-08-15 13:02. Section: Daily Dispatches
By Sid Verma and Cecile Gutscher
Bloomberg News
Tuesday, August 14, 2017
Negative interest rates are back in the spotlight.
Investors and analysts are redoubling their warnings that with global borrowing costs already so low, central banks will need to be prepared to cut interest rates deep into negative territory in the next economic downturn. The message is taking on urgency as anxiety builds that the United States is nearing the end of its current economic expansion cycle.
"I don't think the central bankers would like to go back into negative rates once they get out of it, but they may well have to during the next recession," Iain Stealey, the head of global aggregate strategies at JPMorgan Asset Management in London, said in a Bloomberg TV interview Monday. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2017-08-14/central-banks-told-to...
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US dollar's fall could become a self-fulfilling prophecy
Submitted by cpowell on Tue, 2017-08-15 11:14. Section: Daily Dispatches
By Neal Kimberley
South China Morning Post, Hong Kong
Tuesday, August 15, 2017
Evidence of rising Asian central bank reserves could be the catalyst for another leg down in the US dollar. The currency markets may rationally conclude and react to the notion that such accruals will be accompanied by reserve diversification, as the central banks sell some of their new holdings of the greenback for other major currencies.
Of course, geopolitical concerns could intrude on market sentiment but even then investors make rational, if hurried, decisions. As rising tensions in the Korean peninsula re-emerged last week, the currency markets were quick to look for safe havens, selling US dollars against, among others, the Swiss franc.
But those decisions are by definition reactive whereas for most of 2017 the currency markets have been pro-active in selling the US dollar, and as the greenback has fallen, Asian central bank reserves have been increasing. ...
... For the remainder of the report:
http://www.scmp.com/business/article/2106812/us-dollars-fall-could-becom...
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Now reaching the depth of data.........LOL
Because were having so much Fun <3
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Roman Empire was fuelled by a 'massive influx' of Spanish silver: Scientists discover mines in Iberia were captured and allowed Rome to become the superpower of its day
Hannibal is widely considered one of the greatest generals of the ancient world
He led his North African forces over the Alps in a successful invasion of Italy
Signs of the Carthaginian leader's eventual defeat can be seen in Roman coins
Hannibal's defeat meant the Romans captured Iberian peninsula silver mines
This brought so much silver into the Roman empire that it can be traced through the coinage, scientists say
http://www.dailymail.co.uk/sciencetech/article-4788496/Ancient-Roman-coins-evidence-Hannibal-s-defeat.html#ixzz4pnFj2qv5
.jpg)
Good Morning
MMgys
Are we having Fun Yet
August 15/ANOTHER RAID BY THE CROOKED BANKERS: GOLD DOWN $11.00 AND SILVER DOWN 44 CENTS/KIM AND TRUMP SILENT ON THE NORTH KOREAN POWDER KEG/CHINA REINS IN ITS SHADOW BANKING SECTOR AND WE SHOULD EXPECT BANK RUNS SHORTLY/CARNAGE IN THE USA RESTAURANT BUSINESS AND BRICKS AND MORTAR/
August 15, 2017 · by harveyorgan · in Uncategorized · 1 Comment
GOLD: $1273.70 DOWN $11.00
Silver: $16.70 DOWN 44 cent(s)
Closing access prices:
Gold $1271.90
silver: $16.64
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: $1281.93 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1274.90
PREMIUM FIRST FIX: $5.02
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SECOND SHANGHAI GOLD FIX: $1279.81
NY GOLD PRICE AT THE EXACT SAME TIME: $1274.15
Premium of Shanghai 2nd fix/NY:$5.66
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LONDON FIRST GOLD FIX: 5:30 am est $1274.60
NY PRICING AT THE EXACT SAME TIME: $1274.80
LONDON SECOND GOLD FIX 10 AM: $1282.30
NY PRICING AT THE EXACT SAME TIME. $1282.30
For comex gold:
AUGUST/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 26 NOTICE(S) FOR 2600 OZ.
TOTAL NOTICES SO FAR: 4547 FOR 454700 OZ (14.14 TONNES)
For silver:
AUGUST
70 NOTICES FILED TODAY FOR
350,000 OZ/
Total number of notices filed so far this month: 900 for 4,500,000 oz
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end
Today, the bankers succeeded in their raid on both gold and silver. The open interest in silver continues to fall despite a rise in price (yesterday) and it sure looks like banker capitulation as they try to extricate themselves from their mess. It will be important to see how much open interest in both gold and silver evaporated. It will get the numbers late tonight (after 11 pm) and I will insert them between the xxx’s
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preliminary OI for tonight 11 pm est
GOLD: 480,069 DOWN ONLY 74
SILVER: 188,266 DOWN ONLY 639
xxxxxxx
Let us have a look at the data for today
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In silver, the total open interest SURPRISINGLY FELL AGAIN BY 573 contracts from 189,478 DOWN TO 188,905 DESPITE THE RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 6 CENT(S) AND THE FAILED RAID. SIMPLE EXPLANATION SAME STORY AS YESTERDAY: THE BANKERS HAVE CAPITULATED….THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE HAVING EXTREME DIFFICULTY IN SUPPLYING ADDITIONAL SHORT PAPER AND LONGS CONTINUE TO ADVANCE TAKING ON THE BANKER SHORTS. THE BATTLE OF WATERLOO WILL BE FAST APPROACHING
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.945 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 70 NOTICE(S) FOR 350,000 OZ OF SILVER
In gold, the open interest FELL by A TINY 772 WITH the FALL in price of gold ($3.10 GAIN YESTERDAY.) The new OI for the gold complex rests at 480,143. A raid was called upon by the bankers and it failed. The bankers supplied the short paper but just as many longs entered the arena as banker shorts covered. Thus a small gain in open interest.
we had: 26 notice(s) filed upon for 2600 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
Today, no changes in gold inventory:
Inventory rests tonight: 791.01 tonnes
IN THE LAST 22 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $35.85 .
SLV
Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 335.825 MILLION OZ
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL BY 573 contracts from 189,478 down to 188,905 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL RISE IN PRICE AND FOR THE FIRST TIME WE ARE WITNESSING BANKER CAPITULATION. BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN AND WILLING TO TAKE ON OUR CROOKED BANKERS.
(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 MONDAY night/TUESDAY morning: Shanghai closed UP 13.90 POINTS OR 0.43% / /Hang Sang CLOSED DOWN 75.27 POINTS OR 0.28% The Nikkei closed UP 216.21 POINTS OR 1.11%/Australia’s all ordinaires CLOSED UP 0.43%/Chinese yuan (ONSHORE) closed DOWN at 6.6817/Oil DOWN to 47.37 dollars per barrel for WTI and 50.36 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades 6.6930 yuan to the dollar vs 6.6817 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA//USA
Mattis warns that the North Korean standoff could escalate into war very quickly
( zero hedge)
ii)Kim is briefed on the Guam attack plan but he then backs off his threat of an imminent missile launch
( zerohedge)
iii)We now have independent scientists who now claim that the payload was light and thus the trajectory of North Korea’s latest launch was higher and thus longer that it ought to be. Basically these guys suggest that North Korea does not have the capability to hit the USA(courtesy zerohedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)The USA is angry at China’s theft of intellectual property. However they have put off tariffs for a year as Wilbur Ross is set to study the situation and report back. China is threatening retaliation if the uSA damages trade ties
( zero hedge)
ii)Approximately 2 months ago China announced that it was going to rein in its shadow banking industry which totals 9 trillion USA or approximately equates to its GDP. Last night the POBC announced a 64 billion yuan (9.58 billion USA) drop in outstanding loans. While it looks like the move by the POBC is bearing fruit, the contraction will mostly likely spur a run on all of its banks
( zerohedge)
4. EUROPEAN AFFAIRS
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)IRAN
It seems like Trump is gearing up to end the nuclear agreement with Iran in October but there will be consequences with its European partners
(courtesy ISN Security Watch/OilPrice.com)
ii)To add to the mess globally, Iran will now send a warship flotilla to the West Atlantic as they will build their arsenal. No doubt they are using the hostage money to build up their weapons.
( zerohedge)
6 .GLOBAL ISSUES
(courtesy zero hedge)
7. OIL ISSUES
i)As rig counts continue to rise, production seems to be rising in the Permian basin. Will this push oil prices down to 40$ per barrel
( I. Slav/Oil Price.com)
ii)WTI lifts towards $48.00 after a huge draw
( zerohedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Overnight, bitcoin after reaching $4400 drops 500 to hit $3900
( zerohedge)
ii)James Turk seems to support my thinking that central bank suppression is about to break for silver
( James Turk/Kingworldnews)
iii)The geopolitical landscape, especially the Korean situation plus USA home grown problems is causing the dollar’s fall and this may precipitate into further declines
( Kimberley/South China Morning post, Hong Kong)
10. USA Stories
i)I have been highlighting to you the 3 major debt categories inside household debt for uSA citizens:
i) revolving credit (credit card debt)
ii) student loan debt
iii) auto loan debt
although mortgages represents the largest category for household debt, it is the above 3 that are signalling trouble for citizens. The Fed has now sounded the alarm bell on the above
( zerohedge)
ii)the USA restaurant business is now in a mess as people just shy away from eating out. As far are discretionary spending is concerned, this seems to be the first to take a hit.
Can someone explain then how could the BLS report an increase in bartenders and waitresses with this going on?
( zero hedge)
iii)We have been also highlighting to you the plight of used car prices. The lower the prices for used car means trouble selling brand new cards. They have to offer incentives in order to sell.
e.g. a brand new car selling for $40,000 as 0 dollars down and 80 months at 0 interest
real problems in the auto sector
( zerohedge)
iv) Retail sales rebound in July but it must be due to huge incentives offered by the auto dealers and dept stores
( zero hedge)
v)One analyst just does not believe those retail numbers today
( zerohedge)
vi)Take this with a grain of salt: the New York Manufacturing Fed surges the highest in 3 years despite profit margins getting crushed
( NYFed Manufacturing Index/zerohedge)
vii)Bricks and Mortar operations continue on its death knell
( zerohedge)
viii)Dick’s CEO claims that the retail industry is now in panic mode as they cut prices to stay alive
( zerohedge)
ix)The CBO states that if Trump does not pay the Obamacare subsidies in 2018, then premiums will surge around 20% per year and worse: Trump will be blamed
( zerohedge)
Let us head over to the comex:
The total gold comex open interest FELL BY A tiny 772 CONTRACTS UP to an OI level of 480,143 WITH THE FALL IN THE PRICE OF GOLD ($3.10 with MONDAY’S trading). NEWBIE LONGS ENTERED THE ARENA ESPECIALLY NOTICING THE FAILED RAID IN YESTERDAY’S TRADING. THE BANKERS CONTINUE TO SUPPLY THE SHORT PAPER. NEWBIE SPEC SHORTS ARE NOW COMPLETELY OUT OF THEIR POSITIONS. AS I MENTIONED YESTERDAY: “THE HUGE RISE IN OPEN INTEREST THESE PAST COUPLE OF DAYS WILL BE ADDITIONAL FODDER FOR THE CROOKS TO RAID IN THE COMING WEEK.”
We are now in the contract month of August and it is the 3rd best of the delivery months after December and June.
The active August contract LOST 187 contract(s) to stand at 1069 contracts. We had 34 notices filed on YESTERDAY so we LOST A HUGE 153 contracts or an additional 15,300 oz will NOT stand at the comex and 153 EFP’s were issued which entitles the long holder to a fiat bonus plus a futures contract and most probably that would be a London based forward.
The non active September contract month saw it’s OI LOSE 141 contracts DOWN to 1444.
The next active contract month is Oct and here we saw a GAIN of 520 contracts UP to 50,726.
The very big active December contract month saw it’s OI GAIN 1425 contracts UP to 373,043.
We had 26 notice(s) filed upon today for 2600 oz
For those keeping score: in the upcoming front delivery month of August:
LAST YEAR WE HAD A MONSTROUS 44.7 TONNES OF GOLD INITIALLY. BY THE CONCLUSION OF THE AUGUST CONTRACT MONTH 44.358 TONNES STOOD FOR DELIVERY.
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And now for the wild silver comex results. Total silver OI SURPRISINGLY FELL BY 573 CONTRACTS FROM 189,478 DOWN TO 188,905 DESPITE YESTERDAY’S 4 CENT GAIN. THERE IS NO QUESTION THAT WE ARE HAVING CONTINUAL BANKER CAPITULATION AS THEIR HUGE SHORTS IN SILVER ARE CHOKING THEM TO DEATH. I HAVE WARNED YOU, THE NOOSE IS GETTING TIGHTER AROUND OUR FRIENDLY BANKERS’ NECKS. NO DOUBT THAT THE HUGE DELAY IN SILVER DELIVERIES (IN LONDON) ACCOMPANIED WITH THE HUGE GLOBAL DEMAND FOR SILVER IS FINALLY WEIGHING IN ON OUR CROOKS. NEWBIE SPEC LONGS ENTERED THE SILVER COMPLEX YESTERDAY WITNESSING THE FAILED RAID. ON THE SUPPLY SIDE: THE BANKERS WERE JUST PLAIN FRIGHTENED TO SUPPLY THE NECESSARY PAPER. THUS A DECLINE IN SILVER OI WITH A SMALL SIZED RISE IN PRICE.
We are now in the next big non active silver contract month of August and here the OI ROSE 21 contracts UP TO 140. We had 20 notice(s) filed yesterday. Thus we GAINED A MONSTROUS 41 contract(s) or an additional 205,000 oz will stand for delivery in this non active month of August and AGAIN zero EFP’s were issued for the August contract month. Please note that in gold we continually see EFP’s issued but not in silver!!
The next active contract month is September (and the last active month until December) saw it’s OI fall by 2075 contacts down to 101,652. The next non active contract month for silver after September is October and here the OI gained 16 contacts up TO 112. After October, the big active contract month is December and here the OI GAINED by 1,598 contracts UP to 76,332 contracts.
We had 70 notice(s) filed for 350,000 oz for the AUGUST 2017 contract
VOLUMES: for the gold comex
YESTERDAY’S confirmed volume was 249,054
volumes on gold are STILL HIGHER THAN NORMAL!
Initial standings for AUGUST
August 15/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
26 notice(s)
2600 OZ
No of oz to be served (notices)
1043 contracts
(104,300 oz)
Total monthly oz gold served (contracts) so far this month
4547 notices
454,700 oz
14.14 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 19,750.2 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 AUGUST:
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 26 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 AUGUST. contract month, we take the total number of notices filed so far for the month (4547) x 100 oz or 454,700 oz, to which we add the difference between the open interest for the front month of AUGUST (1069 contracts) minus the number of notices served upon today (26) x 100 oz per contract equals 559,000 oz, the number of ounces standing in this active month of AUGUST.
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served so far (4547) x 100 oz or ounces + {(1069)OI for the front month minus the number of notices served upon today (26) x 100 oz which equals 559,000 oz standing in this active delivery month of AUGUST (17.387 tonnes)
we lost 153 contracts or an additional 15300 oz will not stand for delivery and 153 EFP’s for August were issued.
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Total dealer inventory 758,510.492 or 23.59 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,632,167.752 or 268.49 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 268.49 tonnes for a loss of 34 tonnes over that period. Since August 8/2016 we have lost 85 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 12 MONTHS 85 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
August initial standings
August 15 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
94,277.15 oz
Brinks
CNT
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
2943.700
oz
CNT
No of oz served today (contracts)
70 CONTRACT(S)
(350,000 OZ)
No of oz to be served (notices)
70 contracts
( 350,000 oz)
Total monthly oz silver served (contracts) 900 contracts (4,500,000 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 2,150,413.6 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 3 customer withdrawal(s):
ii) out of Brinks: 1,000.000 oz ???
ii) out of Delaware: 3038.483 oz
iii) out of Scotia: 741,685.48 oz
TOTAL CUSTOMER WITHDRAWALS: 745,723.963 oz
We had 2 Customer deposit(s):
i) Into Brinks: 235,300.328 oz
ii) Into Scotia: 642,090.95
***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: 877,391.270 oz
we had 0 adjustment(s)
The total number of notices filed today for the AUGUST. contract month is represented by 70 contract(s) for 350,000 oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at 900 x 5,000 oz = 4,500,000 oz to which we add the difference between the open interest for the front month of AUGUST (140) and the number of notices served upon today (70) x 5000 oz equals the number of ounces standing
.
Thus the INITIAL standings for silver for the AUGUST contract month: 900 (notices served so far)x 5000 oz + OI for front month of AUGUST(140 ) -number of notices served upon today (70)x 5000 oz equals 4,850,000 oz of silver standing for the AUGUST contract month. This is extremely high for a non active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver increases daily right from the get go.
We GAINED ANOTHER 21 contracts or an additional 205,000 oz wishes to stand for delivery in this non active month of August and 0 EFP’s were issued for the silver August month.
At this point in the delivery cycle last year on August 15/2016 we had 108,939 contracts standing vs this yr at 101,974.
Last yr on the first day notice for the Sept silver contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/
Volumes: for silver comex
YESTERDAY’s confirmed volume was 81,192 contracts which is OUT OF THIS WORLD
FRIDAY’S CONFIRMED VOLUME OF 108 994 CONTRACTS WHICH EQUATES TO 405 MILLION OZ OF SILVER OR 58% 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: 38.348 million (close to record low inventory
Total number of dealer and customer silver: 216.113 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 7.4 percent to NAV usa funds and Negative 7.7% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.4%
Percentage of fund in silver:37.6%
cash .+0.0%( August 15/2017)
2. Sprott silver fund (PSLV): STOCK NAV FALLS TO +0.53% (August 15/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.50% to NAV (August 15/2017 )
Note: Sprott silver trust back into POSITIVE territory at +0.53/Sprott physical gold trust is back into NEGATIVE/ territory at -0.50%/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
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
July 27/LATE LAST NIGHT, A HUGE WITHDRAWAL OF 5.03 TONNES WITH GOLD UP $10.45 ON THE DAY/INVENTORY RESTS AT 795.42 TONNES
July 26/NO CHANGE IN GLD INVENTORY WITH GOLD DOWN $2.55/INVENTORY RESTS AT 800.45 TONNES
July 25/A MASSIVE 9.17 TONNES OF GOLD WITHDRAWN FROM THE GLD/INVENTORY RESTS AT 800.45 TONNES
July 24/A massive 9.62 tonnes withdrawal and yet the price remains constant (down only 25 cents)..inventory drops to 809.62 tonnes
July 21/with gold up $8.75 again, we had no changes in gold inventory at the GLD/inventory rests at 816.13 tonnes
July 20/WITH GOLD UP AGAIN TODAY ($3.50) WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 816.13 TONNES
jULY 19/STRANGE!! AGAIN WITH GOLD UP $0.50 WE HAD ANOTHER HUGE 5.32 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 816.13 TONNES THIS GOLD IS HEADING TO SHANGHAI
July 18/STRANGE AGAIN/WITH GOLD UP $7.50 WE HAD ANOTHER HUGE 5.62 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 821.45 TONNES
July 17/strange again! with gold up $4.20 we had another huge withdrawal of 1.77 tonnes/inventory rests at 827.07 tonnes
July 14/strange@!!with gold up $12.00 today, we had a huge withdrawal of 3.55 tonnes/inventory rests at 828.84 tonnes
July 13/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
JULY 12/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
July 11/strange!@! we had a big withdrawal of 2.96 tonnes despite gold’s advance today/inventory rests tonight at 832.39 tonnes
July 10/no changes in gold inventory at the GLD/inventory rests at 835.35 tonnes
July 7/a massive withdrawal of 5.32 tonnes of paper gold were removed and this was used in the attack today/inventory rests at 835.35 tonnes
July 6/no changes in tonnage at the GLD/Inventory rests at 840.67 tonnes
July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST
July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES
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August 15 /2017/ Inventory rests tonight at 791.01 tonnes
*IN LAST 213 TRADING DAYS: 158.87 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 151 TRADING DAYS: A NET 1.44 TONNES HAVE NOW BEEN WITHDRAWN FROM GLD INVENTORY.
*FROM FEB 1/2017: A NET 18.25 TONNES HAVE BEEN WITHDRAWN.
end
Now the SLV Inventory
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
July 27/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ WITH SILVER UP 13 CENTS TODAY.
July 26/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ
July 25/A MASSIVE 3.309 MILLION OZ OF INVENTORY WITHDRAWN FROM THE SLV DESPITE SILVER’S 10 CENT RISE TODAY.
July 24/no change in silver inventory despite its 4 cent drop/inventory remains at 347.121 million oz
July 21/STRANGE! WITH SILVER UP AGAIN TODAY (11 CENTS), NO CHANGE IN SILVER INVENTORY AT THE SLV/inventory 347.121 million oz/
July 20/STRANGE! WITH SILVER UP AGAIN TODAY, THE SLV INVENTORY LOWERS BY 945,000 OZ/INVENTORY RESTS AT 347.121 MILLION OZ/
July 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 348.066 MILLION OZ
July 18/a huge 946,000 oz withdrawal from the SLV despite silver’s 16 cent gain!
Inventory rests at 348.066 million oz
July 17/no change in silver inventory at the SLV/Inventory rests at 349.012 million oz
July 14/no change in silver inventory/inventory rests at 349.012 million oz/
July 13/no change in silver inventory/inventory at the SLV rests at 349.012 million oz/
JULY 12/another massive 1.986 million oz of silver added into the SLV/inventory rests at 349.012 million oz/the last 3 days saw 7.281 million oz added into the SV
July 11/ANOTHER MASSIVE INCREASE OF 2.364 MILLION OZ into the SLV inventory/inventory rests at 347.026 million oz
July 10/ A HUGE INCREASE OF 2.931 MILLION OZ OF SILVER DESPITE THE EARLY HIT ON SILVER THIS MORNING/INVENTORY RESTS AT 344.662 MILLION OZ.
July 7/Strange: no change in inventory (compare that with gold) Inventory rests at 341.731 million oz
July 6/ANOTHER MASSIVE DEPOSIT OF 2.126 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 341.731 MILLION OZ.
July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ
July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.
August 15.2017:
Inventory 335.825 million oz
end
6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration
+ 1.32%
12 Month MM GOFO
+ 1.48%
30 day trend
end
Major gold/silver trading/commentaries for TUESDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Diversify Into Gold Urges Dalio on Linkedin – “Militaristic Leaders Playing Chicken Risks Hellacious War”
By Mark O’Byrne August 15, 2017 0 Comments
– Don’t let “traditional biases” stop you from diversifying into gold – Dalio on Linkedin
– “Risks are now rising and do not appear appropriately priced in” warns founder of world’s largest hedge fund
– Geo-political risk from North Korea & “risk of hellacious war”
– Risk that U.S. debt ceiling not raised; technical US default
– Safe haven gold likely to benefit by more than dollar, treasuries
– Investors should allocate at least 5% to 10% of assets to gold
– “If you don’t have 5-10% of your assets in gold as a hedge, we’d suggest that you relook at this”
– “If you do have an excellent analysis of why you shouldn’t have such an allocation to gold, we’d appreciate you sharing it with us …”
Image courtesy of Quotefancy
by Ray Dalio via Linkedin
There are returns, and there are risks. We think of them individually, and then we combine them into a portfolio.
We think of returns and opportunities as coming from those things we’d bet on, and we think of risks as the adverse market consequences of us being wrong due to our being out of balance. We start with our balanced beta portfolio—i.e., that portfolio that would most certainly fund our intended uses of the money.
Everyone should have their own based on their own projected uses of money, though more generally, it’s our All Weather portfolio.
We then create a balanced portfolio of opportunity/alpha bets based on what we think is likely to happen. We then combine them.
We bet on the events/outcomes that we think we have an edge in understanding. For events/outcomes where we don’t think we have a particular edge—e.g., political events—we aim to construct our portfolio to be relatively neutral or balanced to those risks.
Risk and Volatility
As a rule, periods of lower risk/volatility tend to lead to periods of greater risk/volatility. That is reflected in our aggregate market volatility gauge (see below), and markets are pricing in volatility to remain low next year too.
As a related rule, people adapt to the circumstances they have experienced and are then surprised when the future is different than the past.
In other words, most people are inclined to assume that the circumstances they have recently encountered will persist, which leads them to change what they are doing to be consistent with that recently experienced environment.
For example, low-volatility periods in which credit is readily available tend to lead people to assume that it’s safe to borrow more, which leads them to lever up their positions, which contributes to greater volatility and hurts them when things change.
That appears to be the case now—i.e., prospective risks are now rising and do not appear appropriately priced in because of a) a backward looking at risk and b) corporate leveraging up has been high because interest rates are low relative to many companies’ projected ROEs and because past risks have been low.
The emerging risks appear more political than economic, which makes them especially challenging to price in.
Most immediately, during the calm of the August vacation season, we are seeing
1) two confrontational, nationalistic, and militaristic leaders playing chicken with each other, while the world is watching to see which one will be caught bluffing, or if there will be a hellacious war, and
2) the odds of Congress failing to raise the debt ceiling (leading to a technical default, a temporary government shutdown, and increased loss of faith in the effectiveness of our political system) rising.
It’s hard to bet on such things, one way or another, so the best that one can do is be neutral to such possibilities.
When it comes to assessing political matters (especially global geopolitics like the North Korea matter), we are very humble. We know that we don’t have a unique insight that we’d choose to bet on.
Most importantly, we aim to stay liquid, stay diversified, and not be overly exposed to any particular economic outcomes.
We like to hedge our bets, though we are never completely hedged. We can also say that if the above things go badly, it would seem that gold (more than other safe haven assets like the dollar, yen, and treasuries) would benefit, so if you don’t have 5-10% of your assets in gold as a hedge, we’d suggest that you relook at this.
Don’t let traditional biases, rather than an excellent analysis, stand in the way of you doing this (and if you do have an excellent analysis of why you shouldn’t have such an allocation to gold, we’d appreciate you sharing it with us).
Full article by Dalio on Linkedin here
Follow GoldCore on Linkedin here
News and Commentary
Gold inches lower as N.Korea tensions ease (Reuters.com)
Asian markets bounce back as North Korean threat recedes (MarketWatch.com)
Paulson And Other Hedge Funds Rewarded as Angst Fuels Gold (Bloomberg.com)
Bitcoin Surges Past $4,000 on Speed Breakthrough (Bloomberg.com)
Stocks Surge, Havens Retreat as Korea Fears Wane: Markets Wrap (Bloomberg.com)
Source: Bloomberg.com
S&P 500’s Biggest Pension Plans Face $382 Billion Funding Gap (Bloomberg.com)
HONG KONG IS HAVING ANOTHER GO AT GOLD TRADING – HERE’S WHY IT WILL SUCCEED THIS TIME (SCMP.com)
Collecting metal: the inner and outer worlds of jewelry, coins, bullion bits, and odd shiny things (UneNumerated)
Black Sky Hazards: Feds To Wargame “Widespread Power Outages” And “Cascading Infrastructure Failures” (ZeroHedge.com)
This Gold Coin Built the Smithsonian (SmithSonIanMag.com)
Gold Prices (LBMA AM)
15 Aug: USD 1,274.60, GBP 986.92 & EUR 1,084.05 per ounce
14 Aug: USD 1,281.10, GBP 987.34 & EUR 1,085.48 per ounce
11 Aug: USD 1,288.30, GBP 993.67 & EUR 1,096.47 per ounce
10 Aug: USD 1,278.90, GBP 985.39 & EUR 1,091.67 per ounce
09 Aug: USD 1,267.95, GBP 974.80 & EUR 1,079.79 per ounce
08 Aug: USD 1,261.45, GBP 967.78 & EUR 1,068.20 per ounce
07 Aug: USD 1,257.55, GBP 963.41 & EUR 1,065.90 per ounce
Silver Prices (LBMA)
15 Aug: USD 16.89, GBP 13.12 & EUR 14.38 per ounce
14 Aug: USD 16.97, GBP 13.09 & EUR 14.39 per ounce
11 Aug: USD 17.09, GBP 13.18 & EUR 14.53 per ounce
10 Aug: USD 17.08, GBP 13.14 & EUR 14.57 per ounce
09 Aug: USD 16.59, GBP 12.76 & EUR 14.14 per ounce
08 Aug: USD 16.39, GBP 12.57 & EUR 13.87 per ounce
07 Aug: USD 16.13, GBP 12.35 & EUR 13.67 per ounce
Recent Market Updates
– Gold Has Yet Another Purpose – Help Fight Cancer
– Gold Up 2%, Silver 5% In Week – Gundlach, Gartman and Dalio Positive On Gold
– Great Disaster Looms as Technology Disrupts White Collar Workers
– Gold Sees Safe Haven Gains On Trump “Fire and Fury” Threat
– Silver Mining Production Plummets 27% At Top Four Silver Miners
– Gold Consolidates On 2.5% Gain In July After Dollar Has 5th Monthly Decline
– Gold Coins and Bars See Demand Rise of 11% in H2, 2017
– Greenspan Warns Stagflation Like 1970s “Not Good For Asset Prices”
– What Investors Can Learn From the Japanese Art of Kintsukuroi
– Bitcoin, ICO Risk Versus Immutable Gold and Silver
– This Is Why Shrinkflation Is Making You Poor
– Gold A Good Store Of Value – Protect From $217 Trillion Global Debt Bubble
– Why Surging UK Household Debt Will Cause The Next Crisis
END
http://www.silverdoctors.com/tag/harvey-organ/
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Thank You Harvey Always Good
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MMgys
Neil Simon Thx Nico Oh what triggers me LOL
Nico Simons: LBMA is the front for gold market rigging by central banks
Submitted by cpowell on Tue, 2017-08-15 17:52. Section: Daily Dispatches
1:51p ET Tuesday, August 15, 2017
Dear Friend of GATA and Gold:
Dutch financial journalist Nico Simons today compiles admissions of central bank involvement with the gold market and concludes that the London Bullion Market Association is just a front for central bank rigging of the price of the monetary metal.
The LBMA, Simons writes, provides central banks with the secrecy necessary for market rigging and this rigging, not any free market, determines the gold price.
Simons' analysis is headlined "The LBMA Is a Ploy of the Central Bank Community" and it's posted in PDF format at Money Insights here:
http://moneyinsights.org/wp-content/uploads/20170815-The-LBMA-is-a-ploy-...
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With recession looming, central banks better make peace with negative rates
Submitted by cpowell on Tue, 2017-08-15 13:02. Section: Daily Dispatches
By Sid Verma and Cecile Gutscher
Bloomberg News
Tuesday, August 14, 2017
Negative interest rates are back in the spotlight.
Investors and analysts are redoubling their warnings that with global borrowing costs already so low, central banks will need to be prepared to cut interest rates deep into negative territory in the next economic downturn. The message is taking on urgency as anxiety builds that the United States is nearing the end of its current economic expansion cycle.
"I don't think the central bankers would like to go back into negative rates once they get out of it, but they may well have to during the next recession," Iain Stealey, the head of global aggregate strategies at JPMorgan Asset Management in London, said in a Bloomberg TV interview Monday. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2017-08-14/central-banks-told-to...
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US dollar's fall could become a self-fulfilling prophecy
Submitted by cpowell on Tue, 2017-08-15 11:14. Section: Daily Dispatches
By Neal Kimberley
South China Morning Post, Hong Kong
Tuesday, August 15, 2017
Evidence of rising Asian central bank reserves could be the catalyst for another leg down in the US dollar. The currency markets may rationally conclude and react to the notion that such accruals will be accompanied by reserve diversification, as the central banks sell some of their new holdings of the greenback for other major currencies.
Of course, geopolitical concerns could intrude on market sentiment but even then investors make rational, if hurried, decisions. As rising tensions in the Korean peninsula re-emerged last week, the currency markets were quick to look for safe havens, selling US dollars against, among others, the Swiss franc.
But those decisions are by definition reactive whereas for most of 2017 the currency markets have been pro-active in selling the US dollar, and as the greenback has fallen, Asian central bank reserves have been increasing. ...
... For the remainder of the report:
http://www.scmp.com/business/article/2106812/us-dollars-fall-could-becom...
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Now reaching the depth of data.........LOL
Because were having so much Fun <3
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Roman Empire was fuelled by a 'massive influx' of Spanish silver: Scientists discover mines in Iberia were captured and allowed Rome to become the superpower of its day
Hannibal is widely considered one of the greatest generals of the ancient world
He led his North African forces over the Alps in a successful invasion of Italy
Signs of the Carthaginian leader's eventual defeat can be seen in Roman coins
Hannibal's defeat meant the Romans captured Iberian peninsula silver mines
This brought so much silver into the Roman empire that it can be traced through the coinage, scientists say
http://www.dailymail.co.uk/sciencetech/article-4788496/Ancient-Roman-coins-evidence-Hannibal-s-defeat.html#ixzz4pnFj2qv5
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