Saturday, March 10, 2018 1:08:03 AM
Midnight Data
Good Morning Ladies and Gentlemen
MMgys
~Welcome To :
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Always a Pleasure To Have You with Us
MMgys
OK Here We Go >>>>>>>>>>>>>>>>>>
Onwards to the data>>>>>>>>>>>>>>>>>>>>>>>>>
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MARCH 9/GOLD REBOUNDS, UP $2.25 TO $1323.40/SILVER UP 21 CENTS TO $16.60/VERY STRONG JOBS REPORT AND IT SEEMS BROAD BASED/CONSUMER PRICES SPIKING IN CHINA/CHINA CONSIDERING INCREASING TARIFFS TO COUNTER THE TRUMP TARIFFS/MORE SWAMP STORIES/
March 9, 2018 · by harveyorgan · in Uncat
GOLD: $1323.40 UP $2.25
Silver: $16.60 UP 21 CENTS
Closing access prices:
Gold $1323.75
silver: $16.61
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: $1326.55 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1318.45
PREMIUM FIRST FIX: $8.10
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SECOND SHANGHAI GOLD FIX: $1329.10
NY GOLD PRICE AT THE EXACT SAME TIME: $1318.85
PREMIUM SECOND FIX /NY:$10.25
SHANGHAI REJECTS NY PRICING OF GOLD.
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LONDON FIRST GOLD FIX: 5:30 am est $1319.35
NY PRICING AT THE EXACT SAME TIME: $1319.50
LONDON SECOND GOLD FIX 10 AM: $1320.60
NY PRICING AT THE EXACT SAME TIME. $1320.85
For comex gold:
MARCH/
NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR:4 FOR 400 OZ
For silver:
MARCH
173 NOTICE(S) FILED TODAY FOR
865,000 OZ/
Total number of notices filed so far this month: 4727 for 23,635,000 oz
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Bitcoin: BID $8907/OFFER $8,977: DOWN $348(morning)
Bitcoin: BID/ $8947/offer $9017: DOWN $308 (CLOSING/5 PM)
end
Let us have a look at the data for today
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In silver, the total open interest ROSE BY A FAIR SIZED 796 contracts from 195,724 RISING TO 196,520 DESPITE YESTERDAY’S TINY 1 CENT FALL IN SILVER PRICING. WE OBVIOUSLY HAD ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 2693 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 2693 CONTRACTS. WITH THE TRANSFER OF 2693 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 2693 CONTRACTS TRANSLATES INTO 13.43 MILLION OZ WITH THE RISE IN OPEN INTEREST IN SILVER AT THE COMEX.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:
18,356 CONTRACTS (FOR 7 TRADING DAYS TOTAL 18,356 CONTRACTS OR 91.780 MILLION OZ: AVERAGE PER DAY: 2622 CONTRACTS OR 13.111 MILLION OZ/DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 91.780 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 13.11% OF ANNUAL GLOBAL PRODUCTION
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 584.255 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ
RESULT: WE HAD A SMALL SIZED GAIN IN COMEX OI SILVER COMEX OF 796 DESPITE THE TINY 1 CENT FALL IN SILVER PRICE. WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 2693 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 2693 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 3489 OI CONTRACTS i.e. 2693 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 796 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 1 CENT AND A CLOSING PRICE OF $16.49 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX.
In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.982 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 173 NOTICE(S) FOR 865,000 OZ OF SILVER
*** note in gold. last last night, the CME released EFP’s for yesterday and today and I reversed them ie. the EFP for today is 7473 and yesterday 7106. I will not change and it will not make a difference when the two are added.
In gold, the open interest FELL BY A STRONG 10,663 CONTRACTS DOWN TO 497,387 WITH THE CONSIDERABLE FALL IN PRICE YESTERDAY ($5.45) HOWEVER FOR TODAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN GOOD SIZED 7106 CONTRACTS THE ISSUANCE OF, APRIL SAW THE ISSUANCE OF 7106 CONTRACTS , JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 497,387. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S. THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY. THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI TOGETHER WITH THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A HUGE LOSS OI CONTRACTS: 10,663 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED 7106 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI LOSS: 3557 CONTRACTS OR 355,700 OZ =11.06 TONNES
YESTERDAY, WE HAD 7473 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 68,796 CONTRACTS OR 6,879,600 OZ OR 213.96 TONNES (7 TRADING DAYS AND THUS AVERAGING: 9828 EFP CONTRACTS PER TRADING DAY OR 982,800 OZ/ TRADING DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 5 TRADING DAYS IN TONNES: 213.96 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 213.96/2550 x 100% TONNES = 8.39% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1464.33 TONNES
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES
Result: A HUGE SIZED DECREASE IN OI AT THE COMEX WITH THE CONSIDERABLE FALL IN PRICE IN GOLD TRADING YESTERDAY ($5.45). HOWEVER, WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7106 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 7106 EFP CONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 3557 contracts ON THE TWO EXCHANGES:
7106 CONTRACTS MOVE TO LONDON AND 10,663 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 11.063 TONNES).
we had: 0 notice(s) filed upon for nil oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
WITH GOLD UP $2.25 : NO CHANGES IN GOLD INVENTORY AT THE GLD /
Inventory rests tonight: 833.73 tonnes.
SLV/
WITH SILVER UP 21 CENTS TODAY:
NO CHANGES IN SILVER INVENTORY AT THE SLV/
/INVENTORY RESTS AT 318.069 MILLION OZ/
end
Related reading
Pension Crisis And Deficit of £2.6 Billion At Carillion To Impact UK Pensions
UK Pensions Risk – Time to Rebalance and Allocate to Cash and Gold
UK Pensions and Debt Time Bomb: £1 Trillion Crisis Looms
News and Commentary
Stocks in Japan, South Korea surge on news of Trump-Kim meeting (MarketWatch.com)
Stocks Rise in Asia on Trump-Kim Summit; Yen Drops (Bloomberg.com)
Gold dips as dollar firms amid hopes for easing U.S.-N.Korea tensions (Reuters.com)
Stocks, Bonds Rise as Trump Signs Off on Tariffs (Bloomberg.com)
U.S. Household Debt Rose Last Quarter at Fastest Rate Since 2007 (Bloomberg.com)
Image source: Bloomberg
Hugo Salinas Price: Without trade deficits, U.S. dollar can’t be world reserve currency (Plata.com.mx)
Reuters exclusive: Five banks open up trillion-dollar gold club (Reuters.com)
Trump’s Historic Bet on Kim Summit Shatters Decades of Orthodoxy (Bloomberg.com)
ECB Assumes Final QE Push Totaling 30 Billion Euros (Bloomberg.com)
Hungarian National Bank Decides to Bring Gold Reserves Back Home (HungaryToday.hu)
Gold Prices (LBMA AM)
09 Mar: USD 1,319.35, GBP 955.21 & EUR 1,072.50 per ounce
08 Mar: USD 1,325.40, GBP 955.08 & EUR 1,070.39 per ounce
07 Mar: USD 1,332.50, GBP 960.07 & EUR 1,071.86 per ounce
06 Mar: USD 1,324.95, GBP 957.01 & EUR 1,074.00 per ounce
05 Mar: USD 1,326.30, GBP 958.78 & EUR 1,075.63 per ounce
02 Mar: USD 1,316.75, GBP 955.70 & EUR 1,071.04 per ounce
01 Mar: USD 1,311.25, GBP 953.80 & EUR 1,075.75 per ounce
Silver Prices (LBMA)
09 Mar: USD 16.49, GBP 11.92 & EUR 13.40 per ounce
08 Mar: USD 16.48, GBP 11.89 & EUR 13.31 per ounce
07 Mar: USD 16.65, GBP 12.01 & EUR 13.42 per ounce
06 Mar: USD 16.62, GBP 11.96 & EUR 13.41 per ounce
05 Mar: USD 16.51, GBP 11.95 & EUR 13.42 per ounce
02 Mar: USD 16.45, GBP 11.92 & EUR 13.36 per ounce
01 Mar: USD 16.32, GBP 11.87 & EUR 13.39 per ounce
Recent Market Updates
– London Property Sees Brave Bet By Norway As Foxtons Profits Plunge
– Gold Does Not Fear Interest Rate Hikes
– RaboDirect Closing – Gold May Protect From Irish Banks Going “Belly Up Again” – Finuncane
– Silver bullion will likely outperform gold bullion going forward
– Gold $10,000? Goldnomics Podcast Quotations and Transcript
– Trump Risks Trade and Currency Wars – Protectionism and Economic War Loom
– Four Key Themes To Drive Gold Prices In 2018 – World Gold Council
– Is The Gold Price Going To $10,000? (Goldnomics Podcast 3)
– Gold Corridor From Dubai to China Sought By China
– Digital Gold Provide the Benefits Of Physical Gold?
– Weekly Briefing: Currency Wars – ECB Warns Re Trump, Russia and Turkey Buy Gold and BOE Bitcoin Warning
– Russian Central Bank Buys Gold – 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches ‘Petro Gold’
– Bitcoin or British Pound ‘Pretty Much Failed’ As Currency?
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Tepco now admits that its ICE WALL is failing. Radiation is leaking through the water
(courtesy zerohedge)
TEPCO Admits Fukushima-Radiation-Blocking “Ice Wall” Is Failing
It has been nearly two-and-a-half years since TEPCO decided to give its “Game of Thrones”-inspired frozen water wall a second chance, despite initially experiencing difficulty getting the temperature low enough to freeze the ground water. At the time, we questioned their sanity, but pointed out that “wasting” tens of billions of yen on the project would, at the very least, help out the region’s badly damaged GDP…
…But today, with two years before the Tokyo Games, the Japanese utility company admitted to Reuters that the costly “ice wall” (more like an ice floor, it’s essentially a ground barrier consisting of frozen soil) is failing to stop groundwater from seeping into the ruined nuclear reactors at the ruined Fukushima Dai-ichi nuclear plant.
The wall’s failure, among other factors, is preventing the company from removing all of the radioactive melted fuel at the site, where one of the world’s worst-ever nuclear disasters unfolded seven years ago when a tsunami struck the area.
When the “ice wall” was announced in 2013, TEPCO assured skeptics that it would effectively limit the flow of groundwater into the plant’s basement, where the water becomes contaminated with radioactive debris.
But since the wall became fully operational in August 2017, an average of 141 metric tonnes of groundwater has seeped into the reactor and turbines each day – worse than the 132 metric tonnes a daythat seeped into the ruined plant during the nine months before the wall’s completion.
That’s far from the “nearly nothing” that TEPCO executives promised.
The unplanned groundwater seepage has delayed TEPCO’s clean-up at the site, the company said, and may undermine the entire decommissioning process for the plant, which the utility is tasked with cleaning up before the 2020 Olympics, though in reality, the process will likely take decades.
Some of the 160,000 residents that were forced to flee after the disaster when the government declared an “exclusion zone” around the site are beginning to return to their former homes as the government has cut off their public assistance.
What people are finding is a ghost town overrun by radioactive boars.
As we pointed out, TEPCO’s options are apparently at an impasse: The company has lost several “swimming robots” inside the destroyed reactors. The robots were sent in to search for the melted nuclear core.
As Reuters explains, TEPCO sunk 34.5 billion yen ($324 million) in public funds into the project, which involved deploying 1,500 tubes filled with brine to a depth of 30 meters (100 feet) in a 1.5-kilometre (1-mile) perimeter around the plant’s four reactors. The plant then cools the brine to minus 30 degrees Celsius (minus 22 Fahrenheit). The goal is to freeze the soil into a solid mass.
What’s worse, the continuing seepage has created more toxic water that Tepco must pump out and store in cumbersome containers. The company says it will run out of space for the water by early 2021.
One nuclear regulator who spoke with Reuters said he believed the wall had been oversold..
“I believe the ice wall was ‘oversold’ in that it would solve all the release and storage concerns,” said Dale Klein, the former chairman of the U.S. Nuclear Regulatory Commission and the head of an external committee advising Tepco on safety issues.
“The hydrology of the Fukushima site is very complicated and thus the exact water flow is hard to predict,” he said, “especially during heavy rains.”
Depending on the level of rain, the amount of water flowing into the ruined plant can fluctuate between 83 tons during a dry month to 866 during a typhoon.
A government panel blasted the ice wall on Wednesday, saying it was only partially effective. What’s worse, the ice wall was supposed to be a crucial element of Japan’s plan to show that it has the cleanup effort under control.
The failure is bad news for area fishermen, because the government’s only other viable solution appears to be emptying tritium-laced water into the Pacific Ocean – which has angered locals, and probably should anger the international community as well.
END
Missing $21 Trillion Used to Manipulate Markets?
| Rob Kirby
March 9, 2018 5 1083
Rob Kirby tells Silver Doctors the Exchange Stabilization Fund is most likely using the $21 trillion to manipulate the markets…
Rob Kirby of Kirby Analytics interviewed by Silver Doctors
Kirby reminds us $21 trillion is missing form the United States Department of Defense and Department of Housing and Urban Development.
He believes the ESF is most likely using the money to manipulate the capital markets. He explains in detail how the ESF manipulates the markets to keep the U.S. dollar afloat.
How long can this ESF manipulation go on for? America is being called out as we speak, and countries around the globe are banishing the U.S. dollar from their international trade.
https://www.silverdoctors.com/headlines/world-news/missing-21-trillion-used-to-manipulate-markets-rob-kirby/
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Gold & Silver Come Under Pressure But Don’t Crack After Super-Duper Jobs Report
March 9, 2018 14 1035
Gold & silver come under pressure but have found support. Here’s the details…
Today is one of those days where you’re going to get moves in the market.
Today the government (BLS) released the February Non-farm Payrolls Report. Of the two favorite times to smash gold & silver, the BLS Jobs Report day is one of them (with the FOMC meetings being the other favorite time to smash the metals).
So what happened in February with respect to the jobs outlook?
First of all, the “consensus” was for 205,000 jobs to have been created in February and for unemployment to have reached 4.0%
According to the government 313,00 jobs were created! Amazing! Everything is awesome!
This is going to leave the Fed with no excuse to not hike in another two weeks.
https://www.silverdoctors.com/gold/gold-news/gold-silver-come-under-selling-pressure-but-find-support-after-super-duper-jobs-report/
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313k Jobs Added? Nice Try But It’s Fake News
-- Published: Friday, 9 March 2018 | Print | 2 Comments
By Dave Kranzler
The census bureau does the data-gathering and the Bureau of Labor Statistics feeds the questionable data sample through its statistical sausage grinder and spits out some type of grotesque scatological substance. You know an economic report is pure absurdity when the report exceeds Wall Street’s rose-colored estimate by 53%. That has to be, by far, an all-time record-high “beat.”
If you sift through some of the foul-smelling data, it turns out 365k of the alleged jobs were part-time, which means the labor market lost 52k full-time jobs. But alas, I loathe paying any credence to complete fiction by dissecting the “let’s pretend” report.
http://news.goldseek.com/GoldSeek/1520628405.php
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Ted Butler: JPMorgan's motive for controlling the silver price
Submitted by cpowell on Fri, 2018-03-09 01:14. Section: Daily Dispatches
8:25p ET Thursday, March 8, 2018
Dear Friend of GATA and Gold:
Silver market analyst and manipulation exposer Ted Butler today addresses the possibility that the U.S. government is the real party in interest in JPMorganChase's seeming dominance of the silver market.
Butler writes that he still believes that JPM is rigging the silver market for its own benefit, acquiring a huge position in real metal in anticipation of much higher prices. He writes:
"It is unrealistic, in my opinion, to believe that the U.S. government would single out silver as the one commodity it should be stockpiling without any apparent reason or evidence it was doing so. That's the problem with conspiracy theories -- once you go down that path, it never ends and you have to suspend rational thinking to explain everything.
"As I said, I understand the need to rationalize the rotten price behavior of silver over the past seven years. Further, I have gone on record stating that the U.S. government did make a secret agreement with JPM on the occasion of its takeover of Bear Stearns, but if the U.S. government has been calling the shots in silver over the past seven years, then I'll go out and buy a hat and eat it."
And yet Butler himself has acknowledged that, as the U.S. government formally removed silver from U.S. coinage in 1965, President Lyndon B. Johnson warned potential investors in the monetary metal that the U.S. government would dishoard silver from its strategic stockpile as necessary to control the metal's price:
http://www.gata.org/node/11601
Johnson said the objective of such dishoarding would be to keep U.S. silver coinage in circulation and thus prevent it from being hoarded or melted and sold as bullion. That is, the objective of this dishoarding was to prevent devaluation of non-silver coinage and currency.
Maintaining the value of its currency always has been and always will remain a powerful interest of any government.
But there are other possible explanations for U.S. government intervention in the silver market -- like acquisition of metal for other countries, like China, that hold huge amounts of U.S. government debt instruments and, as the price of continuing to hold those debt instruments, might demand a hedge against their devaluation.
In any case, whenever a market is plainly manipulated and the regulatory agencies show no interest, the most plausible explanation is that, while it may be operating through intermediaries, the actual manipulator is the U.S. government, since, under the Gold Reserve Act of 1934, as amended in the 1970s, the U.S. government is fully authorized to rig surreptitiously any market in the world:
https://www.treasury.gov/resource-center/international/ESF/Pages/esf-ind...
Such an explanation becomes still more plausible with the determined refusal of mainstream financial news organizations to question governments and central banks critically about their market interventions.
Butler's analysis is headlined "JPMorgan's Motivation" and it's posted at GoldSeek's companion site, SilverSeek, here --
http://silverseek.com/commentary/jpmorgan%E2%80%99s-motivation-17141
-- and at 24hGold here:
http://www.24hgold.com/english/news-gold-silver-jpmorgan-s-motivation.as...
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Hugo Salinas Price: Without trade deficits, U.S. dollar can't be world reserve currency
Submitted by cpowell on Thu, 2018-03-08 18:04. Section: Daily Dispatches
1:04p ET Thursday, March 8, 2018
Dear Friend of GATA and Gold:
Hugo Salinas Price, president of the Mexican Civic Association for Silver, remarking on President Trump's tariffs and potential trade war to eliminate the trade deficits of the United States, notes today that no country can issue the world reserve currency without running trade deficits to spread its currency throughout the world.
Salinas Price writes: "So the exorbitant privilege of the United States, the production of the world's fundamental currency -- which allows it to purchase anything in any amount, in any place, at any price -- produces automatically the fundamental need of foreign countries to undersell U.S. producers."
If the dollar is no longer to be the world reserve currency, Salinas Price concludes, the only replacement will be gold.
His analysis is headlined "Bad Karma Brings Bad Consequences for Those Who Practice It" and it's posted at the silver association's internet site here:
http://plata.com.mx/enUS/More/346?idioma=2
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Ronan Manly: LBMA stalls daily gold and silver price auction fix reports
Submitted by cpowell on Thu, 2018-03-08 17:00. Section: Daily Dispatches
12:02p ET Thursday, March 8, 2018
Dear Friend of GATA and Gold:
The London Bullion Market Association, gold researcher Ronan Manly discloses today, has stopped providing timely reports of the daily gold and silver auction price fixes and has against postponed its plans to publish trade data about the monetary metals.
Manly writes: "It must be obvious to everyone that the LBMA and its bullion bank members do not want the transparency that gold and silver trade reporting would provide. Otherwise they would not have spent four years on a project that any individual investment bank could start and complete within less than three months."
Manly's report is headlined "LBMA Alchemy and the London Gold and Silver Markets: 2 Steps Back" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/lbma-alchemy-london-gold-m...
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Pics Of The Day
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Resistless, With a Thundering Tide
"For fools rush in where angels fear to tread.
Distrustful sense with modest caution speaks;
It still looks home, and short excursions makes;
But rattling nonsense in full volleys breaks;
And never shocked, and never turned aside,
Bursts out, resistless, with a thundering tide."
Alexander Pope, An Essay on Criticism
Stocks took off after the Non-Farm Payrolls report came in much higher than expected.
Wages came in rather weakly.
Even gold and silver managed to rally on the back of a slightly weaker dollar.
So what was this, risk on or risk off?
Or perhaps it was just irrational exuberance, dying to break free of this dull and dreary world.
We will be getting quite a bit of economic data next week, including some key inflation measures.
I will see you all next week.
And until then, don't forget to love.
Have a pleasant weekend.
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Thank You Harvey Honored To Post Your Work Man !
https://www.silverdoctors.com/tag/harvey-organ/
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Thank You Jesse http://jessescrossroadscafe.blogspot.com/
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Thank You GATA http://www.gata.org/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Thank You Zero Hedge https://www.zerohedge.com/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Thank You from MMgys The Love Network <3
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Visit our Friends at GOLDBUGS INDEX https://investorshub.advfn.com/GOLDBUGS-Gold-Spot-(FOREX-XAUUSDO)-COM-GC-Z15-3386/
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and Thank You All for Being With Us Tonight
Wishing You All a Safe and Happy Weekend <3
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.jpg)
Good Morning Ladies and Gentlemen
MMgys
~Welcome To :
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Always a Pleasure To Have You with Us
MMgys
OK Here We Go >>>>>>>>>>>>>>>>>>
Onwards to the data>>>>>>>>>>>>>>>>>>>>>>>>>
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MARCH 9/GOLD REBOUNDS, UP $2.25 TO $1323.40/SILVER UP 21 CENTS TO $16.60/VERY STRONG JOBS REPORT AND IT SEEMS BROAD BASED/CONSUMER PRICES SPIKING IN CHINA/CHINA CONSIDERING INCREASING TARIFFS TO COUNTER THE TRUMP TARIFFS/MORE SWAMP STORIES/
March 9, 2018 · by harveyorgan · in Uncat
GOLD: $1323.40 UP $2.25
Silver: $16.60 UP 21 CENTS
Closing access prices:
Gold $1323.75
silver: $16.61
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: $1326.55 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1318.45
PREMIUM FIRST FIX: $8.10
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SECOND SHANGHAI GOLD FIX: $1329.10
NY GOLD PRICE AT THE EXACT SAME TIME: $1318.85
PREMIUM SECOND FIX /NY:$10.25
SHANGHAI REJECTS NY PRICING OF GOLD.
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LONDON FIRST GOLD FIX: 5:30 am est $1319.35
NY PRICING AT THE EXACT SAME TIME: $1319.50
LONDON SECOND GOLD FIX 10 AM: $1320.60
NY PRICING AT THE EXACT SAME TIME. $1320.85
For comex gold:
MARCH/
NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR:4 FOR 400 OZ
For silver:
MARCH
173 NOTICE(S) FILED TODAY FOR
865,000 OZ/
Total number of notices filed so far this month: 4727 for 23,635,000 oz
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Bitcoin: BID $8907/OFFER $8,977: DOWN $348(morning)
Bitcoin: BID/ $8947/offer $9017: DOWN $308 (CLOSING/5 PM)
end
Let us have a look at the data for today
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In silver, the total open interest ROSE BY A FAIR SIZED 796 contracts from 195,724 RISING TO 196,520 DESPITE YESTERDAY’S TINY 1 CENT FALL IN SILVER PRICING. WE OBVIOUSLY HAD ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 2693 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 2693 CONTRACTS. WITH THE TRANSFER OF 2693 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 2693 CONTRACTS TRANSLATES INTO 13.43 MILLION OZ WITH THE RISE IN OPEN INTEREST IN SILVER AT THE COMEX.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:
18,356 CONTRACTS (FOR 7 TRADING DAYS TOTAL 18,356 CONTRACTS OR 91.780 MILLION OZ: AVERAGE PER DAY: 2622 CONTRACTS OR 13.111 MILLION OZ/DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 91.780 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 13.11% OF ANNUAL GLOBAL PRODUCTION
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 584.255 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ
RESULT: WE HAD A SMALL SIZED GAIN IN COMEX OI SILVER COMEX OF 796 DESPITE THE TINY 1 CENT FALL IN SILVER PRICE. WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 2693 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 2693 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 3489 OI CONTRACTS i.e. 2693 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 796 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 1 CENT AND A CLOSING PRICE OF $16.49 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX.
In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.982 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 173 NOTICE(S) FOR 865,000 OZ OF SILVER
*** note in gold. last last night, the CME released EFP’s for yesterday and today and I reversed them ie. the EFP for today is 7473 and yesterday 7106. I will not change and it will not make a difference when the two are added.
In gold, the open interest FELL BY A STRONG 10,663 CONTRACTS DOWN TO 497,387 WITH THE CONSIDERABLE FALL IN PRICE YESTERDAY ($5.45) HOWEVER FOR TODAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN GOOD SIZED 7106 CONTRACTS THE ISSUANCE OF, APRIL SAW THE ISSUANCE OF 7106 CONTRACTS , JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 497,387. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S. THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY. THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI TOGETHER WITH THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A HUGE LOSS OI CONTRACTS: 10,663 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED 7106 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI LOSS: 3557 CONTRACTS OR 355,700 OZ =11.06 TONNES
YESTERDAY, WE HAD 7473 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 68,796 CONTRACTS OR 6,879,600 OZ OR 213.96 TONNES (7 TRADING DAYS AND THUS AVERAGING: 9828 EFP CONTRACTS PER TRADING DAY OR 982,800 OZ/ TRADING DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 5 TRADING DAYS IN TONNES: 213.96 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 213.96/2550 x 100% TONNES = 8.39% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1464.33 TONNES
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES
Result: A HUGE SIZED DECREASE IN OI AT THE COMEX WITH THE CONSIDERABLE FALL IN PRICE IN GOLD TRADING YESTERDAY ($5.45). HOWEVER, WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7106 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 7106 EFP CONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 3557 contracts ON THE TWO EXCHANGES:
7106 CONTRACTS MOVE TO LONDON AND 10,663 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 11.063 TONNES).
we had: 0 notice(s) filed upon for nil oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
WITH GOLD UP $2.25 : NO CHANGES IN GOLD INVENTORY AT THE GLD /
Inventory rests tonight: 833.73 tonnes.
SLV/
WITH SILVER UP 21 CENTS TODAY:
NO CHANGES IN SILVER INVENTORY AT THE SLV/
/INVENTORY RESTS AT 318.069 MILLION OZ/
end
Related reading
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UK Pensions Risk – Time to Rebalance and Allocate to Cash and Gold
UK Pensions and Debt Time Bomb: £1 Trillion Crisis Looms
News and Commentary
Stocks in Japan, South Korea surge on news of Trump-Kim meeting (MarketWatch.com)
Stocks Rise in Asia on Trump-Kim Summit; Yen Drops (Bloomberg.com)
Gold dips as dollar firms amid hopes for easing U.S.-N.Korea tensions (Reuters.com)
Stocks, Bonds Rise as Trump Signs Off on Tariffs (Bloomberg.com)
U.S. Household Debt Rose Last Quarter at Fastest Rate Since 2007 (Bloomberg.com)
Image source: Bloomberg
Hugo Salinas Price: Without trade deficits, U.S. dollar can’t be world reserve currency (Plata.com.mx)
Reuters exclusive: Five banks open up trillion-dollar gold club (Reuters.com)
Trump’s Historic Bet on Kim Summit Shatters Decades of Orthodoxy (Bloomberg.com)
ECB Assumes Final QE Push Totaling 30 Billion Euros (Bloomberg.com)
Hungarian National Bank Decides to Bring Gold Reserves Back Home (HungaryToday.hu)
Gold Prices (LBMA AM)
09 Mar: USD 1,319.35, GBP 955.21 & EUR 1,072.50 per ounce
08 Mar: USD 1,325.40, GBP 955.08 & EUR 1,070.39 per ounce
07 Mar: USD 1,332.50, GBP 960.07 & EUR 1,071.86 per ounce
06 Mar: USD 1,324.95, GBP 957.01 & EUR 1,074.00 per ounce
05 Mar: USD 1,326.30, GBP 958.78 & EUR 1,075.63 per ounce
02 Mar: USD 1,316.75, GBP 955.70 & EUR 1,071.04 per ounce
01 Mar: USD 1,311.25, GBP 953.80 & EUR 1,075.75 per ounce
Silver Prices (LBMA)
09 Mar: USD 16.49, GBP 11.92 & EUR 13.40 per ounce
08 Mar: USD 16.48, GBP 11.89 & EUR 13.31 per ounce
07 Mar: USD 16.65, GBP 12.01 & EUR 13.42 per ounce
06 Mar: USD 16.62, GBP 11.96 & EUR 13.41 per ounce
05 Mar: USD 16.51, GBP 11.95 & EUR 13.42 per ounce
02 Mar: USD 16.45, GBP 11.92 & EUR 13.36 per ounce
01 Mar: USD 16.32, GBP 11.87 & EUR 13.39 per ounce
Recent Market Updates
– London Property Sees Brave Bet By Norway As Foxtons Profits Plunge
– Gold Does Not Fear Interest Rate Hikes
– RaboDirect Closing – Gold May Protect From Irish Banks Going “Belly Up Again” – Finuncane
– Silver bullion will likely outperform gold bullion going forward
– Gold $10,000? Goldnomics Podcast Quotations and Transcript
– Trump Risks Trade and Currency Wars – Protectionism and Economic War Loom
– Four Key Themes To Drive Gold Prices In 2018 – World Gold Council
– Is The Gold Price Going To $10,000? (Goldnomics Podcast 3)
– Gold Corridor From Dubai to China Sought By China
– Digital Gold Provide the Benefits Of Physical Gold?
– Weekly Briefing: Currency Wars – ECB Warns Re Trump, Russia and Turkey Buy Gold and BOE Bitcoin Warning
– Russian Central Bank Buys Gold – 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches ‘Petro Gold’
– Bitcoin or British Pound ‘Pretty Much Failed’ As Currency?
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Tepco now admits that its ICE WALL is failing. Radiation is leaking through the water
(courtesy zerohedge)
TEPCO Admits Fukushima-Radiation-Blocking “Ice Wall” Is Failing
It has been nearly two-and-a-half years since TEPCO decided to give its “Game of Thrones”-inspired frozen water wall a second chance, despite initially experiencing difficulty getting the temperature low enough to freeze the ground water. At the time, we questioned their sanity, but pointed out that “wasting” tens of billions of yen on the project would, at the very least, help out the region’s badly damaged GDP…
…But today, with two years before the Tokyo Games, the Japanese utility company admitted to Reuters that the costly “ice wall” (more like an ice floor, it’s essentially a ground barrier consisting of frozen soil) is failing to stop groundwater from seeping into the ruined nuclear reactors at the ruined Fukushima Dai-ichi nuclear plant.
The wall’s failure, among other factors, is preventing the company from removing all of the radioactive melted fuel at the site, where one of the world’s worst-ever nuclear disasters unfolded seven years ago when a tsunami struck the area.
When the “ice wall” was announced in 2013, TEPCO assured skeptics that it would effectively limit the flow of groundwater into the plant’s basement, where the water becomes contaminated with radioactive debris.
But since the wall became fully operational in August 2017, an average of 141 metric tonnes of groundwater has seeped into the reactor and turbines each day – worse than the 132 metric tonnes a daythat seeped into the ruined plant during the nine months before the wall’s completion.
That’s far from the “nearly nothing” that TEPCO executives promised.
The unplanned groundwater seepage has delayed TEPCO’s clean-up at the site, the company said, and may undermine the entire decommissioning process for the plant, which the utility is tasked with cleaning up before the 2020 Olympics, though in reality, the process will likely take decades.
Some of the 160,000 residents that were forced to flee after the disaster when the government declared an “exclusion zone” around the site are beginning to return to their former homes as the government has cut off their public assistance.
What people are finding is a ghost town overrun by radioactive boars.
As we pointed out, TEPCO’s options are apparently at an impasse: The company has lost several “swimming robots” inside the destroyed reactors. The robots were sent in to search for the melted nuclear core.
As Reuters explains, TEPCO sunk 34.5 billion yen ($324 million) in public funds into the project, which involved deploying 1,500 tubes filled with brine to a depth of 30 meters (100 feet) in a 1.5-kilometre (1-mile) perimeter around the plant’s four reactors. The plant then cools the brine to minus 30 degrees Celsius (minus 22 Fahrenheit). The goal is to freeze the soil into a solid mass.
What’s worse, the continuing seepage has created more toxic water that Tepco must pump out and store in cumbersome containers. The company says it will run out of space for the water by early 2021.
One nuclear regulator who spoke with Reuters said he believed the wall had been oversold..
“I believe the ice wall was ‘oversold’ in that it would solve all the release and storage concerns,” said Dale Klein, the former chairman of the U.S. Nuclear Regulatory Commission and the head of an external committee advising Tepco on safety issues.
“The hydrology of the Fukushima site is very complicated and thus the exact water flow is hard to predict,” he said, “especially during heavy rains.”
Depending on the level of rain, the amount of water flowing into the ruined plant can fluctuate between 83 tons during a dry month to 866 during a typhoon.
A government panel blasted the ice wall on Wednesday, saying it was only partially effective. What’s worse, the ice wall was supposed to be a crucial element of Japan’s plan to show that it has the cleanup effort under control.
The failure is bad news for area fishermen, because the government’s only other viable solution appears to be emptying tritium-laced water into the Pacific Ocean – which has angered locals, and probably should anger the international community as well.
END
Missing $21 Trillion Used to Manipulate Markets?
| Rob Kirby
March 9, 2018 5 1083
Rob Kirby tells Silver Doctors the Exchange Stabilization Fund is most likely using the $21 trillion to manipulate the markets…
Rob Kirby of Kirby Analytics interviewed by Silver Doctors
Kirby reminds us $21 trillion is missing form the United States Department of Defense and Department of Housing and Urban Development.
He believes the ESF is most likely using the money to manipulate the capital markets. He explains in detail how the ESF manipulates the markets to keep the U.S. dollar afloat.
How long can this ESF manipulation go on for? America is being called out as we speak, and countries around the globe are banishing the U.S. dollar from their international trade.
https://www.silverdoctors.com/headlines/world-news/missing-21-trillion-used-to-manipulate-markets-rob-kirby/
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Gold & Silver Come Under Pressure But Don’t Crack After Super-Duper Jobs Report
March 9, 2018 14 1035
Gold & silver come under pressure but have found support. Here’s the details…
Today is one of those days where you’re going to get moves in the market.
Today the government (BLS) released the February Non-farm Payrolls Report. Of the two favorite times to smash gold & silver, the BLS Jobs Report day is one of them (with the FOMC meetings being the other favorite time to smash the metals).
So what happened in February with respect to the jobs outlook?
First of all, the “consensus” was for 205,000 jobs to have been created in February and for unemployment to have reached 4.0%
According to the government 313,00 jobs were created! Amazing! Everything is awesome!
This is going to leave the Fed with no excuse to not hike in another two weeks.
https://www.silverdoctors.com/gold/gold-news/gold-silver-come-under-selling-pressure-but-find-support-after-super-duper-jobs-report/
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313k Jobs Added? Nice Try But It’s Fake News
-- Published: Friday, 9 March 2018 | Print | 2 Comments
By Dave Kranzler
The census bureau does the data-gathering and the Bureau of Labor Statistics feeds the questionable data sample through its statistical sausage grinder and spits out some type of grotesque scatological substance. You know an economic report is pure absurdity when the report exceeds Wall Street’s rose-colored estimate by 53%. That has to be, by far, an all-time record-high “beat.”
If you sift through some of the foul-smelling data, it turns out 365k of the alleged jobs were part-time, which means the labor market lost 52k full-time jobs. But alas, I loathe paying any credence to complete fiction by dissecting the “let’s pretend” report.
http://news.goldseek.com/GoldSeek/1520628405.php
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Ted Butler: JPMorgan's motive for controlling the silver price
Submitted by cpowell on Fri, 2018-03-09 01:14. Section: Daily Dispatches
8:25p ET Thursday, March 8, 2018
Dear Friend of GATA and Gold:
Silver market analyst and manipulation exposer Ted Butler today addresses the possibility that the U.S. government is the real party in interest in JPMorganChase's seeming dominance of the silver market.
Butler writes that he still believes that JPM is rigging the silver market for its own benefit, acquiring a huge position in real metal in anticipation of much higher prices. He writes:
"It is unrealistic, in my opinion, to believe that the U.S. government would single out silver as the one commodity it should be stockpiling without any apparent reason or evidence it was doing so. That's the problem with conspiracy theories -- once you go down that path, it never ends and you have to suspend rational thinking to explain everything.
"As I said, I understand the need to rationalize the rotten price behavior of silver over the past seven years. Further, I have gone on record stating that the U.S. government did make a secret agreement with JPM on the occasion of its takeover of Bear Stearns, but if the U.S. government has been calling the shots in silver over the past seven years, then I'll go out and buy a hat and eat it."
And yet Butler himself has acknowledged that, as the U.S. government formally removed silver from U.S. coinage in 1965, President Lyndon B. Johnson warned potential investors in the monetary metal that the U.S. government would dishoard silver from its strategic stockpile as necessary to control the metal's price:
http://www.gata.org/node/11601
Johnson said the objective of such dishoarding would be to keep U.S. silver coinage in circulation and thus prevent it from being hoarded or melted and sold as bullion. That is, the objective of this dishoarding was to prevent devaluation of non-silver coinage and currency.
Maintaining the value of its currency always has been and always will remain a powerful interest of any government.
But there are other possible explanations for U.S. government intervention in the silver market -- like acquisition of metal for other countries, like China, that hold huge amounts of U.S. government debt instruments and, as the price of continuing to hold those debt instruments, might demand a hedge against their devaluation.
In any case, whenever a market is plainly manipulated and the regulatory agencies show no interest, the most plausible explanation is that, while it may be operating through intermediaries, the actual manipulator is the U.S. government, since, under the Gold Reserve Act of 1934, as amended in the 1970s, the U.S. government is fully authorized to rig surreptitiously any market in the world:
https://www.treasury.gov/resource-center/international/ESF/Pages/esf-ind...
Such an explanation becomes still more plausible with the determined refusal of mainstream financial news organizations to question governments and central banks critically about their market interventions.
Butler's analysis is headlined "JPMorgan's Motivation" and it's posted at GoldSeek's companion site, SilverSeek, here --
http://silverseek.com/commentary/jpmorgan%E2%80%99s-motivation-17141
-- and at 24hGold here:
http://www.24hgold.com/english/news-gold-silver-jpmorgan-s-motivation.as...
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Hugo Salinas Price: Without trade deficits, U.S. dollar can't be world reserve currency
Submitted by cpowell on Thu, 2018-03-08 18:04. Section: Daily Dispatches
1:04p ET Thursday, March 8, 2018
Dear Friend of GATA and Gold:
Hugo Salinas Price, president of the Mexican Civic Association for Silver, remarking on President Trump's tariffs and potential trade war to eliminate the trade deficits of the United States, notes today that no country can issue the world reserve currency without running trade deficits to spread its currency throughout the world.
Salinas Price writes: "So the exorbitant privilege of the United States, the production of the world's fundamental currency -- which allows it to purchase anything in any amount, in any place, at any price -- produces automatically the fundamental need of foreign countries to undersell U.S. producers."
If the dollar is no longer to be the world reserve currency, Salinas Price concludes, the only replacement will be gold.
His analysis is headlined "Bad Karma Brings Bad Consequences for Those Who Practice It" and it's posted at the silver association's internet site here:
http://plata.com.mx/enUS/More/346?idioma=2
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Ronan Manly: LBMA stalls daily gold and silver price auction fix reports
Submitted by cpowell on Thu, 2018-03-08 17:00. Section: Daily Dispatches
12:02p ET Thursday, March 8, 2018
Dear Friend of GATA and Gold:
The London Bullion Market Association, gold researcher Ronan Manly discloses today, has stopped providing timely reports of the daily gold and silver auction price fixes and has against postponed its plans to publish trade data about the monetary metals.
Manly writes: "It must be obvious to everyone that the LBMA and its bullion bank members do not want the transparency that gold and silver trade reporting would provide. Otherwise they would not have spent four years on a project that any individual investment bank could start and complete within less than three months."
Manly's report is headlined "LBMA Alchemy and the London Gold and Silver Markets: 2 Steps Back" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/lbma-alchemy-london-gold-m...
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Pics Of The Day
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Resistless, With a Thundering Tide
"For fools rush in where angels fear to tread.
Distrustful sense with modest caution speaks;
It still looks home, and short excursions makes;
But rattling nonsense in full volleys breaks;
And never shocked, and never turned aside,
Bursts out, resistless, with a thundering tide."
Alexander Pope, An Essay on Criticism
Stocks took off after the Non-Farm Payrolls report came in much higher than expected.
Wages came in rather weakly.
Even gold and silver managed to rally on the back of a slightly weaker dollar.
So what was this, risk on or risk off?
Or perhaps it was just irrational exuberance, dying to break free of this dull and dreary world.
We will be getting quite a bit of economic data next week, including some key inflation measures.
I will see you all next week.
And until then, don't forget to love.
Have a pleasant weekend.
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Thank You Harvey Honored To Post Your Work Man !
https://www.silverdoctors.com/tag/harvey-organ/
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Thank You Jesse http://jessescrossroadscafe.blogspot.com/
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Thank You GATA http://www.gata.org/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Thank You Zero Hedge https://www.zerohedge.com/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Thank You from MMgys The Love Network <3
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Visit our Friends at GOLDBUGS INDEX https://investorshub.advfn.com/GOLDBUGS-Gold-Spot-(FOREX-XAUUSDO)-COM-GC-Z15-3386/
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and Thank You All for Being With Us Tonight
Wishing You All a Safe and Happy Weekend <3
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