The GraveYard Shift

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Data Air



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>>>>>>>>>>>>>>>>>>>>>>>>>

Welcome Spring' Feel You In The Air

Nice To See Ya>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

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March 19/GOLD REBOUNDS ON EU NEWS OF RAISING RATES AND ENDING QE/GOLD RISES $5.25 TO $1317.90 BUT SILVER IS UP ONLY A NICKEL TO $16.33/EU-BREXIT DEAL ANNOUNCED WHICH CAUSES THE BRITISH POUND TO RISE/MORE LOSSES FOR DEUTSCHE BANK/BOTH RUSSIA AND THE UK REMOVE DIPLOMATS FROM THE POISONING SCANDAL/USA SET TO INTRODUCE A MONSTROUS 1.3 TRILLION DOLLAR SPENDING BILL/MCCABE FIRED WHICH SETS OF A PLETHORA OF SWAMP STORIES FOR YOU TONIGHT/
March 19, 2018 · by harveyorgan · in Uncategorized · Leave a comment

BEST POLITICAL QUOTE OF ANY ERA:



“The Budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome will become bankrupt. People must again learn to work instead of living on public assistance.”



Cicero, 55 B.C.



So, we’ve evidently learned nothing over the past 2,073 years!


GOLD: $1317.90 up $5.25

Silver: $16.33 up 5 CENTS

Closing access prices:

Gold $1316.50

silver: $16.33

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: $1321.3 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1311.75

PREMIUM FIRST FIX: $9.55

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SECOND SHANGHAI GOLD FIX: $1318.49

NY GOLD PRICE AT THE EXACT SAME TIME: $1308.75

PREMIUM SECOND FIX /NY:$9.74

SHANGHAI REJECTS NY PRICING OF GOLD.

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ON APRIL 1 2018 I WILL NO LONGER PROVIDE THE LONDON FIXES AS THEY ARE MANIPULATED AND THEY WILL BE PROVIDED 36 HRS AFTER THE FACT AND THUS TOTALLY USELESS TO US!!

LONDON FIRST GOLD FIX: 5:30 am est $1311.70

NY PRICING AT THE EXACT SAME TIME: $1310.70 ???

LONDON SECOND GOLD FIX 10 AM: $1312.40

NY PRICING AT THE EXACT SAME TIME. $1309.95 ???? SIGNALS CROSSED?

For comex gold:

MARCH/
NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT:11 NOTICE(S) FOR 1100 OZ.

TOTAL NOTICES SO FAR:24 FOR 2400 OZ

For silver:

MARCH
28 NOTICE(S) FILED TODAY FOR
140,000 OZ/

Total number of notices filed so far this month: 5159 for 25,795,000 oz

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Bitcoin: BID $8221/OFFER $8,290: DOWN $288(morning)
Bitcoin: BID/ $8449/offer $8519: DOWN $59 (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 STRONG SIZED 1741 contracts from 208,501 RISING TO 210,242 DESPITE FRIDAY’S 15 CENT FALL IN SILVER PRICING. WE OBVIOUSLY HAD ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 3619 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 3619 CONTRACTS. WITH THE TRANSFER OF 3619 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 3619 CONTRACTS TRANSLATES INTO 18.09 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:

29,068 CONTRACTS (FOR 13 TRADING DAYS TOTAL 29,068 CONTRACTS) OR 145.34 MILLION OZ: AVERAGE PER DAY: 2236 CONTRACTS OR 11.180 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 145.34 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 20.76% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 627.164 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ

RESULT: WE HAD A STRONG SIZED GAIN IN COMEX OI SILVER COMEX OF 1741 DESPITE THE 15 CENT FALL IN SILVER PRICE. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 3619 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 3619 EFP’S FOR THE MONTH OF MARCH WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 5360 OI CONTRACTS i.e. 3619 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 1741 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 15 CENTS AND A CLOSING PRICE OF $16.38 WITH RESPECT TO FRIDAY’S TRADING. YET WE STILL HAVE A HUGE AMOUNT OF SILVER STANDING AT THE COMEX THIS MONTH.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.051 BILLION TO BE EXACT or 150% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 28 NOTICE(S) FOR 140,000 OZ OF SILVER

In gold, the open interest FELL BY AN CONSIDERABLE SIZED 8760 CONTRACTS DOWN TO 533,887 WITH THE GOOD SIZED FALL IN PRICE FRIDAY ( LOSS OF $5.65) HOWEVER FOR MONDAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN HUGE SIZED 11,571 CONTRACTS : APRIL SAW THE ISSUANCE OF 11,071 CONTRACTS, JUNE SAW THE ISSUANCE OF 500 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 533,887. 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 GOOD OI GAIN IN CONTRACTS: 8760 OI CONTRACTS DECREASED AT THE COMEX BUT A HUGE SIZED 11,571 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 2811 CONTRACTS OR 401,300 OZ =8.743 TONNES

FRIDAY, WE HAD 15,689 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 118,547 CONTRACTS OR 11,854,700 OZ OR 368.71 TONNES (13 TRADING DAYS AND THUS AVERAGING: 9119 EFP CONTRACTS PER TRADING DAY OR 911,900 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 13 TRADING DAYS IN TONNES: 368.71 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 368.71/2550 x 100% TONNES = 14.45% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1671.38 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES

Result: A CONSIDERABLE SIZED DECREASE IN OI AT THE COMEX WITH THE FALL IN PRICE IN GOLD TRADING ON FRIDAY ($5.65 LOSS). HOWEVER, WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11,571 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 11,571 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 2811 contracts ON THE TWO EXCHANGES:

11,571 CONTRACTS MOVE TO LONDON AND 8760 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 8.74 TONNES).

we had: 11 notice(s) filed upon for 1100 oz of gold.

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

GLD

WITH GOLD UP $5.25 : ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD / A DEPOSIT OF 2.07 TONNES OF GOLD

Inventory rests tonight: 838.15 tonnes.

SLV/

WITH SILVER UP 5 CENTS TODAY:

A SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 659,000 OZ

/INVENTORY RESTS AT 319.671 MILLION OZ/

end

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

1. Today, we had the open interest in silver ROSE BY A STRONG 1741 contracts from 208,501 UP TO 210,242 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE FALL IN PRICE OF SILVER (15 CENTS WITH RESPECT TO FRIDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 3619 EFP CONTRACTS FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI GAIN AT THE COMEX OF 1741 CONTRACTS TO THE 3619 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 5360 OPEN INTEREST CONTRACTS. WE STILL HAVE A STRONG AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN MARCH (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES: 26.80 MILLION OZ!!!

RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE FALL IN SILVER PRICING FRIDAY (15 CENTS FALL IN PRICE) . BUT WE ALSO HAD ANOTHER FAIR SIZED 3619 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR MARCH, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

(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)MONDAY MORNING/SUNDAY NIGHT: Shanghai closed UP 9.37 POINTS OR 0.29% /Hang Sang CLOSED UP 11.79 POINTS OR 0.04% / The Nikkei closed DOWN 195.61 POINTS OR 0.90%/Australia’s all ordinaires CLOSED UP 0.16%/Chinese yuan (ONSHORE) closed DOWN at 6.3320/Oil UP to 62.07 dollars per barrel for WTI and 65.94 for Brent. Stocks in Europe OPENED RED . ONSHORE YUAN CLOSED DOWN AT 6.3320 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3325 /ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY HAPPY TODAY (WEAKER CURRENCY & MARKETS/AND TRUMP TARIFFS INITIATED/WEAKER GLOBAL MARKETS )
3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)North Korea
b) REPORT ON JAPAN
3 c CHINA

In a surprise move, China announces that Deputy POBC head Y Gang will replace Zhou. He is USA educated but did not hold any positions with Goldman Sachs. He is a free market believer:

( zerohedge)
4. EUROPEAN AFFAIRS

i)Early morning UK time zone:

Cable (Br Pound /USA Dollar) spikes above 1.40 on a Brexit breakthrough. UK must abide by all EU rules for 21 months but they have no say on any EU new rules etc. This is as good as it is going to get for the uK

( zerohedge)

ii)A terrific article penned by Tom Luongo. He describes the huge lies everywhere and what it means to us:
( Tom Luongo)

iii)Gefira presents us with Europe’s perfect storm developing and will come to fruition in 2020

a must read..

( Gefira)
iv)We knew that this was going: The new German Interior Minister has now called for the suspension of Schengen or National Border Controls. Remember that the Euro’s basis for existence is the free movement of labour etc throughout the EU
( zerohedge)

v)the losses endured by our good friends over at Deutsche bank, the world’s largest derivative player and defendant to our class action law suits in both gold and silver, are even bigger than reported 6 weeks ago. Believe it or not, but cost cuts have now been abandoned and bonuses to our crooks are quadrupled.

( Wolf Richter/WolfStreet)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)The Kremlin is furious after Boris Johnson accuses Putin of personally ordering the poisoning of ex Russian citizens on British soil. The death of a second ex Russian agent Glushkov, is now been classified as a murder. An autopsy found a compression around his neck. In English: he was strangled.

( zerohedge)

ii)Russia expels 23 British diplomats in retaliation for Britain removing 23 Russian diplomats.

( zero hedge)

iii)Russia is now claiming that the USA is deploying warships for an imminent attack on Syria as they train militants for a false flag event

( zerohedge)
iv)Russia/USAThis ought to give all Americans confidence in their military: a Russian nuclear sub quietly traveled right up to the Eastern side of the USA coast undetected

( zerohedge)

v)Turkey/Syria

Erdogan declares victory as the Turks wave a Turkish flag over Afrin, in the north part of Syria. There are reports on ethnic cleansing. The Kurds now vowed to set up guerrilla warfare again the Turks

( zerohedge)
vi)the Turkish Army offers a heart felt thanks for the weapons left behind by the YPG in Afrin
( zerohedge)
6 .GLOBAL ISSUES
7. OIL ISSUES

We knew that this was going to happen; Aramco kills its massive IPO and will offer shares only domestically: why not enough demand and too high a price.

( zerohedge)
8. EMERGING MARKET

VENEZUELA

My goodness is this weird: trump issues an executive order banning any purchase of Venezuela’s cryptocurrency

( zerohedge)
9. PHYSICAL MARKETS

i)Stephen Englander states that the uSA is stealthily lowering its exchange rate (weaker dollar) as it is increasing the amount of short term paper bills. The lowering of the dollar creates an gain for foreigners when they cash in one yr later on those bills. This will surely help gold with the lower dollar.

( Bloomberg/GATA/Englander)

ii)Sprott funds lays out the argument that financial stress is laying the groundwork for gold/silver to rise

( Bloomberg/Sprott)

iii)Iran is still having trouble breaking from the dollar

Motamedi/GATA)

iv)RT publishes a detailed report by Ronan Manly on gold price suppression

(RT/Ronan Manly./GATA)

v)This is interesting: the Pro government Turkish paper, the daily Saba, reprints Manl’ys RT exposure of gold price suppression

(courtesy Daily Saba/RT/Manly/GATA)
10. USA stories which will influence the price of gold/silver

i)The uSA National debt has now surpassed 21 trillion dollars

( zerohedge)

ii)The real truth on the uSA economy:

( David Stockman)

iii)Morning trading..

(zerohedge)

iv)Disagreements galore as the Government is set to unveil a huge omnibus spending bill of 1.2 trillion dollars. It will encompass 1/3 of the yr. Already both Democrats and Republicans are fighting as to what should be included in this bill and there is a 25% of another government shutdown
(courtesy zerohedge)
v) David Stockman on the economy
(David Stockman)

ivi)SWAMP STORIES

a)Jeff Sessions fires McCabe who now loses most of his pension as well as “for life” medical benefits for himself and his family. The deep state has now lost one of its important allies.

( zerohedge)

b)McCabe hands Mueller memos on interactions with Trump//more on the firing of McCabe
( zerohedge)
c)Comey rips into Trump but that is only to promote his new book

( zerohedge)

d)Trump’s lawyer, Cohen states that Stormy Daniels could be liable for 20 million dollars as she has violated the terms of her NDA 20 times. The agreement states that she is liable for one million dollars per violation

( zerohedge)

e)My goodness: the barbs fly after news of the McCabe firing:

( zero hedge)
f)According to Law Professor Turley, McCabe just threw Comey under the bus for perjury as he stated that Comey as director authorized the leaking of Trump and Clinton stuff to the Wall Street Journal. Comey under oath stated that he was never a leaker and never authorized any leaks
( zerohedge)

g)And now Trump provides a tweetstorm on Sunday as he accuses Comey of perjury and slams McCabe for making “fake memos of his meeting with the President. Trump also goes after the Mueller team

( zero hedge)

h)A Congressman offers McCabe a job so he can earn his full pension.

( zerohedge

i)This is quite mundane…the Kushner companies are accused of filing false documents with New York City of which all developers are guilty of:

( zerohedge)

j)Trump emboldened by the McCabe firing and is demanding that the Mueller investigation to end. Trump will be keying off Fox News and if Judge Jeanine Pirro and Sean Hannity turn it up a notch, then there is no telling what Trump will do..

( zerohedge)

k)A must read…ex FBI assistant director states the obvious: there was a high ranking plot top to protect Hillary and bring down Trump and Brennan was the weekly leaker

(courtesy Kallstrom ex FBI director/Fox/zerohedge)
l)Late this morning: it seems that Mueller is pivoting only to “obstruction” to which there is no case as Trump has the authority to fire Comey at any time. Obstruction only occurs if there is a criminal element to it and there is nothing here..
(courtesy zerohedge)

m)DiGenova is to join President Trump’s legal team. He is the husband of Victoria Toensing who is representing Campbell, the whistleblower in the Uranium One scandal. It seems that Trump’s team is having difficulty getting documents on the Uranium One scandal. Now that he is hired, he will just walk over and hand the documents to the President.(courtesy zerohedge)
n)No question about it: this is going to get a lot uglier by the day

( zerohedge)
Let us head over to the comex:

The total gold comex open interest FELL BY AN CONSIDERABLE SIZED 8760 CONTRACTS DOWN to an OI level 533,887 WITH THE FALL IN THE PRICE OF GOLD ($5.65 LOSS/ FRIDAY’S TRADING). HOWEVER THE CME REPORTS THAT THE BANKERS ISSUED AN HUGE SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. WE HAD A 11,071 EFP’S ISSUED FOR APRIL , AND 500 CONTRACTS FOR JUNE AND ZERO FOR ALL OTHER MONTHS: TOTAL 11,571 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST 48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON FORWARD… THE COMEX IS NOW AN ABSOLUTE FRAUD!!

ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 2811 OI CONTRACTS IN THAT 11,571 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 8760 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES: 2811 contracts OR 281,100 OZ OR 8.74 TONNES.

Result: AN STRONG SIZED DECREASE IN COMEX OPEN INTEREST WITH THE FALL IN PRICE ON FRIDAY (ENDING UP WITH A LOSS OF $5.65.). HOWEVER TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 2811 OI CONTRACTS..

We have now entered the non active contract month of MARCH where we LOST 21 contracts LOWERING TO 507 contracts. We had 0 notices served upon yesterday, so LOST 21 contacts or 2100 additional oz will not stand for delivery at the comex and these guys morphed into London based forwards.

April saw a LOSS of 11,133 contracts DOWN to 244,083. May saw A LOSS of 23 contracts to stand at 479. The really big June contract month saw a GAIN of 1759 contracts UP to 188,570 contracts.

We had 11 notice(s) filed upon today for 1100 oz
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY:285,582 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 322,185 CONTRACTS

comex gold volumes are RISING AGAIN

Here is a summary of the latest gold trading volumes at the Comex per year

certainly the introduction of EFP’s has certainly had an effect:

Meanwhile, gold-trading volumes on the COMEX have never been higher:

end

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And now for the wild silver comex results.

Total silver OI ROSE BY A STRONG SIZED 1741 CONTRACTS FROM 208,501 UP TO 210,242 DESPITE OUR 15 CENT LOSS IN FRIDAY’S TRADING). ALSO,WE WERE ALSO INFORMED THAT WE HAD 3619 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS AND ZERO FOR ALL OTHER MONTHS TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON: THE TOTAL EFP’S ISSUED: 3619. THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY. USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH AS WE HAVE JUST SEEN IN GOLD TODAY. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER 2017. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. NICK LAIRD WAS KIND ENOUGH TO SUPPLY US THE TOTAL FOR 2017 GOLD EFP’S AND IT WAS 6600 TONNES FOR THE ENTIRE YEAR. WE OBVIOUSLY HAD ZERO LONG COMEX SILVER LIQUIDATION AND WE ALSO HAVE A STRONG SIZED GAIN IN TOTAL SILVER OI FROM OUR TWO EXCHANGES. WE ARE ALSO WITNESSING A STRONG AMOUNT OF SILVER OUNCES STANDING FOR COMEX METAL IN THIS ACTIVE OF MARCH AS WELL AS THAT CONTINUAL MIGRATION OF EFPS OVER TO LONDON. ON A PERCENTAGE BASIS THERE ARE MORE EFP’S ISSUED FOR GOLD THAN SILVER. ON A NET BASIS WE GAINED 5360 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 1741 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 3619 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES: 5360 CONTRACTS

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the active delivery month of MARCH and here the front month LOST 36 contracts FALLING TO 130 contracts. We had 48 contracts filed on FRIDAY, so we GAINED 12 contracts or an additional 60,000 OZ will stand in this active delivery month of March.(AS SOMEBODY IS IN URGENT NEED OF CONSIDERABLE PHYSICAL SILVER)

April LOST 7 contracts FALLING TO 414 .

The next big active delivery month for silver will be May and here the OI GAINED 1948 contracts UP to 150,536

We had 24 notice(s) filed for 140,000 OZ for the MARCH 2018 contract for silver
INITIAL standings for MARCH/GOLD

MARCH 19/2018.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz nil OZ
No of oz served (contracts) today
11 notice(s)
1100 OZ
No of oz to be served (notices)
496 contracts
(49600 oz)
Total monthly oz gold served (contracts) so far this month
24 notices
2400 oz
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
we had 1 kilobar transaction/
We had 0 inventory movement at the dealer accounts
total inventory deposit into the dealer accounts: NIL oz
total inventory withdrawals out of dealer accounts; nil oz
we had 1 withdrawals out of the customer account:
i) out of Scotia: 4822.500 oz
150 kilobars
total withdrawal: 4822.500 oz
we had 0 customer deposit
total customer deposits: nil oz
we had 0 adjustment(s)
total registered or dealer gold: 339,378.269 oz or 10.556 tonnes
total registered and eligible (customer) gold; 9,070,432.280 oz 282.12 tones
THE COMEX IS AGAIN IN STRESS AS ONLY 10.556 TONNES OF GOLD ARE LEFT TO SERVICE DELIVERIES


For MARCH:
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 11 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 3 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 MARCH. contract month, we take the total number of notices filed so far for the month (24) x 100 oz or 0 oz, to which we add the difference between the open interest for the front month of FEB. (507 contracts) minus the number of notices served upon today (11 x 100 oz per contract) equals 52,000 oz, the number of ounces standing in this nonactive month of MARCH (1.6174 tonnes)

Thus the INITIAL standings for gold for the MARCH contract month:

No of notices served (24 x 100 oz or ounces + {(507)OI for the front month minus the number of notices served upon today (11 x 100 oz )which equals 52,000 oz standing in this nonactive delivery month of March . THERE IS 10.556 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE LOST 21 CONTRACTS OR AN ADDITIONAL 2100 OZ WILL NOT STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF MARCH.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

IN THE LAST 18 MONTHS 72 NET TONNES HAS LEFT THE COMEX.

end
And now for silver
AND NOW THE DECEMBER DELIVERY MONTH
MARCH INITIAL standings/SILVER
March 19 2018
Silver Ounces
Withdrawals from Dealers Inventory nil oz
Withdrawals from Customer Inventory
60,151.500 oz
Scotia
Deposits to the Dealer Inventory
nil
oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
28
CONTRACT(S
(140,000 OZ)
No of oz to be served (notices)
102 contracts
(510,000 oz)
Total monthly oz silver served (contracts) 5159 contracts

(25,795,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

we had 0 inventory movement at the dealer side of things

total dealer deposits: nil oz

we had 0 deposits into the customer account

i) nil

ii) Into JPMorgan: nil oz

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

JPMorgan now has 137 million oz of total silver inventory or 53.6% of all official comex silver.

JPMorgan deposited zero into its warehouses (official) today.

total deposits today: nil oz

we had 1 withdrawals from the customer account;

i) Out of Scotia: 60,151.880 oz

total withdrawals; 60,151.880 oz

we had 2 adjustments

i)out of CNT: 550,930.824 oz was adjusted out of the dealer account and into the customer account of CNT

ii) Out of Scotia: 81,735.700 oz was adjusted out of the dealer account and this landed into the customer account of CNT

total dealer silver: 59.203 million

total dealer + customer silver: 256.857 million oz

The total number of notices filed today for the March. contract month is represented by 28 contract(s) FOR 140,000 oz. To calculate the number of silver ounces that will stand for delivery in March., we take the total number of notices filed for the month so far at 5159 x 5,000 oz = 25,795,000 oz to which we add the difference between the open interest for the front month of Mar. (130) and the number of notices served upon today (28 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the March contract month: 5159(notices served so far)x 5000 oz + OI for front month of March(130) -number of notices served upon today (28)x 5000 oz equals 26,305,000 oz of silver standing for the March contract month.

We GAINED an additional 12 contracts or 60,000 additional silver oz will stand for delivery at the comex as somebody was in urgent need of physical silver.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

ESTIMATED VOLUME FOR TODAY: 64,899 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 78,094 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 78094 CONTRACTS EQUATES TO 390 MILLION OZ OR 55.7% OF ANNUAL GLOBAL PRODUCTION OF SILVER

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV FALLS TO -2.46% (MARCH 19/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.58% to NAV (March 19/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -2.46%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.58%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott WINS hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV RISES TO -2.55%: NAV 13.57/TRADING 13.23//DISCOUNT 2.55.

END

And now the Gold inventory at the GLD/

March 19/WITH GOLD UP $5.25: ANOTHER HUGE DEPOSIT OF GOLD TO THE TUNE OF 2.07 TONNES/GOLD INVENTORY RESTS TONIGHT AT 840.22 TONNES

MARCH 16/WITH GOLD DOWN $5.65/OUR CROOKS DEPOSITED ANOTHER 4.42 TONNES INTO GLD INVENTORY/INVENTORY RESTS AT 838.15 TONNES

FOR THE WEEK: GOLD LOST $11.80, BUT GOLD INVENTORY ADVANCED:4.42 TONNES

MARCH 15/WITH GOLD DOWN $7.85, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 14/WITH GOLD DOWN $1.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 13/WITH GOLD UP $6.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 12/WITH GOLD DOWN $3.00/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 9/WITH GOLD UP $2.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

March 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES

MARCH 7/WITH GOLD DOWN 8.00/A SLIGHT CHANGE IN GOLD INVENTORY AT THE GLD/A WITHDRAWAL OF .25 TONNES TO PAY FOR FEES//INVENTORY RESTS AT 833.73 TONNES

MARCH 6/WITH GOLD UP $15.60/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES

March 5/WITH GOLD DOWN $4.10/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES

MARCH 2/WITH GOLD UP $18.70/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES

March 1/WITH GOLD DOWN ANOTHER $12.30/A HUGE CHANGE IN GOLD INVENTORY/ A DEPOSIT OF 2.96 TONNES/INVENTORY RESTS AT 833.98 TONNES

FEB 28/WITH GOLD DOWN ANOTHER 70 CENTS/NO CHANGE IN GOLD INVENTORY/INVENTORY RESTS AT 831.03 TONNES/.

feb 27/WITH GOLD DOWN $13.80 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 831.03 TONNES

FEB 26/WITH GOLD UP $2.40/WE HAD ANOTHER INVENTORY GAIN/THIS TIME 1.77 TONNE ADDITION TO THE GLD INVENTORY/INVENTORY RESTS AT 831.03 TONNES/WE HAVE HAD 5 INCREASES IN THE PAST 6 TRADING GOLD SESSIONS/

FEB 23/WITH GOLD DOWN $1.15, WE HAD A GOOD INVENTORY GAIN OF 1.47 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 829.26 TONNES

FEB 22/WITH GOLD UP 90 CENTS AGAIN TODAY, WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 827.79 TONNES

FEB 21/ WITH THE 90 CENT GAIN WE HAD ANOTHER DEPOSIT OF 3.15 TONNES OF GOLD INTO THE GLD INVENTORY/INVENTORY RESTS TONIGHT AT 827.79 TONNES

Feb 20/WITH GOLD DOWN BY $24.25, THE CROOKS DECIDED THAT THEY HAD BETTER RETURN (DEPOSIT) 3.34 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS TONIGHT AT 824,64 TONNES

Feb 16/WITH GOLD UP BY 25 CENTS, THE CROOKS DECIDED AGAIN TO RAID THE COOKIE JAR BY WITHDRAWING 2.36 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 821.30 TONNES

Feb 15/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 823.66 TONNES

Feb 14/AN ADDITIONAL OF 2.95 TONNES OF GOLD INTO GLD WITH THE HUGE GAIN OF 27.40 IN PRICE/INVENTORY RESTS AT 823.66 TONNES

Feb 13/WITH GOLD UP $3.40 WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 820.71 TONNES

Feb 12/STRANGE!!WITH GOLD RISING BY 12.00 DOLLARS, THE CROOKS DECIDED AGAIN TO WITHDRAW 5.6 TONNES OF GOLD FOR EMERGENCY USE ELSEWHERE/INVENTORY RESTS AT 820.71 TONNES

Feb 9/AGAIN WITH HUGE TURMOIL ON THE MARKETS, THE CROOKS WITHDREW 2 TONNES OF GOLD FROM THE GLD INVENTORY/INVENTORY RESTS AT 826.31 TONNES

Feb 8/DESPITE THE GOOD GAIN IN PRICE FOR GOLD TODAY/THE CROOKS REMOVED .96 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 828.31 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

MARCH 19/2018/ Inventory rests tonight at 838.15 tonnes

*IN LAST 344 TRADING DAYS: 100.92 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 274 TRADING DAYS: A NET 55.38 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory

March 19/WITH SILVER UP 5 CENTS, THE SLV ADDS A SMALL 659,000 OZ TO ITS INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

MARCH 16/WITH SILVER DOWN 15 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ.

FOR THE WEEK; SILVER IS DOWN 42 CENTS YET ADDS 943,000 OZ OF SILVER INTO THE SLV/

MARCH 15/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 14/WITH SILVER DOWN 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 13/WITH SILVER UP 10 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 12/WITH SILVER DOWN 8 CENTS/A BIG CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 943,000 OZ/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 9/WITH SILVER UP 21 CENTS, NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

March 8/WITH SILVER DOWN 1 CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 7/WITH SILVER DOWN 27 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 6/WITH SILVER UP 38 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

March 5/WITH SILVER DOWN 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 2/WITH SILVER UP 23 CENTS: A HUGE 1.479 MILLION OZ WAS ADDED TO SILVER’S INVENTORY/INVENTORY RESTS AT 318.069 MILLION OZ/

March 1/WITH SILVER DOWN 11 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ./

FEB 28/WITH SILVER DOWN 5 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ/

feb 27/WITH SILVER DOWN 17 CENTS/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 316.590 MILLION OZ

FEB 26/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ/

FEB 23/WITH SILVER DOWN 10 CENTS TODAY, WE HAD ANOTHER HUGE ADDITION OF 1.315 MILLION OZ/INVENTORY RESTS AT 316.590 MILLION OZ/

fEB 22.2018/WITH SILVER DOWN 1 CENT TODAY, WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.271 MILLION OZ/

FEB 21/WITH SILVER UP 15 CENTS TODAY, WE HAD A GOOD SIZED INVENTORY ADDITION OF 1.226 MILLION OZ/INVENTORY RESTS AT 315.271 MILLION OZ/

Feb 20/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ

Feb 16/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/

Feb 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/

Feb 14./NO CHANGE IN SILVER INVENTORY DESPITE THE HUGE RISE IN PRICE/INVENTORY RESTS AT 314.045 MILLION OZ

Feb 13./NO CHANGE IN SILVER INVENTORY TODAY/INVENTORY RESTS AT 314.045 MILLION OZ/

Feb 12/AGAIN, WITH TODAY’S HUGE RISE IN SILVER PRICE, IN TOTAL CONTRAST TO GOLD: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.045 MILLION OZ/

Feb 9/AGAIN WITH TURMOIL ON THE MARKETS, STRANGELY IN TOTAL CONTRAST TO GOLD: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.045 MILLION OZ/

Feb 8/DESPITE THE TURMOIL TODAY AND A PRICE RISE: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/

MARCH 19/2018: A SMALL CHANGES TO SILVER INVENTORY/ A DEPOSIT OF 659,000 OZ
Inventory 319.671 million oz

end

6 Month MM GOFO 1.99/ and libor 6 month duration 2.36

Indicative gold forward offer rate for a 6 month duration/calculation:

G0FO+ 1.99%

libor 2.36 FOR 6 MONTHS/

GOLD LENDING RATE: .37%

XXXXXXXX

12 Month MM GOFO
+ 2.39%

LIBOR FOR 12 MONTH DURATION: 2.61

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE = +.22

end

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Crock Of Gold Hidden In Ireland? Happy Saint Patrick’s Day
16, March

Crock Of Gold In Ireland? Happy Saint Patrick’s Day

Wishing you health, wealth and good luck this Saint Patrick’s Day!

https://news.goldcore.com/ie/gold-blog/crock-gold-ireland/

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News and Commentary

Gold at 2-week low as dollar weighs, investors eye political tensions (MarketWatch.com)

PRECIOUS-Gold steady as political concerns offset rate hike fears (Reuters.com)

Venezuela gold reserve value falls 14 pct in 2017 (Reuters.com)

Stocks Drift, Dollar Drops Amid Political Turmoil: Markets Wrap (Bloomberg.com)

Bitcoin’s ‘Death Cross’ Looms as Strategist Eyes $2,800 Level (Bloomberg.com)

The Many Uses of Gold (GoldSeek.com)

$500 million in gold bullion rains down on Siberia after aircraft cargo bungle (News.com.au)

Tons of gold fall from sky in Russian cargo plane blunder (VIDEO, PHOTOS) (RT.com)

Gold’s relationship to interest rates isn’t so simple – Kosares (Gata.org)

Forget Brexit – here’s the real reason the UK housing market is fragile (MoneyWeek.com)

Gold Prices (LBMA AM)

15 Mar: USD 1,323.35, GBP 949.24 & EUR 1,070.72 per ounce
14 Mar: USD 1,324.95, GBP 949.59 & EUR 1,071.35 per ounce
13 Mar: USD 1,318.70, GBP 948.94 & EUR 1,069.60 per ounce
12 Mar: USD 1,317.25, GBP 950.66 & EUR 1,069.87 per ounce
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

Silver Prices (LBMA)

15 Mar: USD 16.52, GBP 11.86 & EUR 13.37 per ounce
14 Mar: USD 16.61, GBP 11.88 & EUR 13.42 per ounce
13 Mar: USD 16.51, GBP 11.88 & EUR 13.38 per ounce
12 Mar: USD 16.46, GBP 11.88 & EUR 13.39 per ounce
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

end

Sprott funds lays out the argument that financial stress is laying the groundwork for gold/silver to rise

(courtesy Bloomberg/Sprott)
This $8.8 billion fund sees financial stress spurring a gold rally

Submitted by cpowell on Sat, 2018-03-17 03:56. Section: Daily Dispatches

By Luzi-Ann Javier
Bloomberg News
Saturday, March 16, 2018

Rising U.S. interest rates, usually bad news for gold, are instead feeding signs of financial stress among debt-laden consumers and helping drive demand for the metal as a haven.

That’s the argument of Sprott Inc., a precious-metals-focused fund manager that oversees $8.8 billion in assets. The following four charts lay out the case for why gold could be poised to rise even as the Federal Reserve tightens monetary policy. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-03-16/this-8-8-billion-fund…

end

Iran is still having trouble breaking from the dollar

Motamedi/GATA)
Iran’s break with the dollar is easier said than done

Submitted by cpowell on Sat, 2018-03-17 05:36. Section: Daily Dispatches

By Maziar Motamedi
Al-Monitor, Washington, D.C.
Friday, March 16, 2018

A little over two weeks ago Iran eliminated another function of the U.S. dollar in its internal workings in a move positioned amid yearslong plans to reduce dependency on the greenback. The consequences will be manifold and interconnected, but there are discrepancies in views concerning what will happen as a result among experts and officials.

On Feb. 28, the Ministry of Industry, Mines, and Trade announced by way of a directive that all traders are henceforth barred from registering their import orders in US dollars. The abrupt directive that is effective immediately was put into motion per a government request conveyed through a letter penned by Central Bank of Iran head Valiollah Seif.

In the missive, Seif argued that since Iran’s banking system has no access to dollar transactions because of decades-long sanctions, using the currency in imports translates into having to employ a network of foreign exchange bureaus instead of banks while also going against the country’s policy of “completely removing the dollar” from its international business dealings. The latter is indeed a policy that Iran is pursuing on several fronts.

For instance, Tehran is actively seeking bilateral or multilateral currency swap deals with its chief trade partners and has already one in place with Turkey. Further, it previously announced a plan to halt the use of U.S. dollars as the currency of choice in financial and foreign exchange reports from the beginning of the current Iranian year (ending March 20). But that plan ended up being postponed because a sudden break with the greenback was not deemed feasible as oil revenues are priced in US dollars, though it remains on the CBI’s agenda.

Going back to the latest manifestation of the Hassan Rouhani administration’s policy of doing away with the greenback, shortly after the announcement of the ban on imports in dollars, Mehdi Kasraei-Pour, the central bank’s deputy for foreign exchange policies and regulations, asserted that it will have “no impact” on the country’s imports. “Importers must only ask their foreign counterparts to offer their pro-forma invoices in other currencies and use alternative currencies such as the euro for their purchases,” he said.

Mojtaba Khosrotaj, head of the Trade Promotion Organization, also said the directive “shouldn’t create any serious problems” considering the type of imported goods and Iran’s trade partners.

But much of the private sector — whose players bear the brunt of the measure — holds a different opinion. …

… For the remainder of the report:

https://www.al-monitor.com/pulse/originals/2018/03/iran-import-orders-us…

* * *

end

US Bank’s derivatives are larger since the rescue of Bear Stearns. As I have stated to you many times the balloon of derivatives grows larger by the day and never contracts.

(London’s Financial Times/McLannahan/GATA)
U.S. bank derivatives books larger since rescue of Bear Stearns

Submitted by cpowell on Sun, 2018-03-18 02:23. Section: Daily Dispatches

By Ben McLannahan
Financial Times
Saturday, March 16, 2018

At the end of January 2008, in what would turn out to be its final annual report, Bear Stearns went into some detail about its big book of derivatives. The book had a notional value of $13.4 trillion at the end of November, Bear said, up more than 50 percent from a year earlier. A two-notch downgrade in the firm’s credit ratings, it added, would require it to come up with an extra $353m in collateral.

This huge cluster of financial instruments — swaps, futures, forwards, and options — may not have been the main cause of Bear’s collapse, about six weeks later. The firm was stuffed with mortgage assets at a time when the housing market was sinking, and had a tiny sliver of equity to absorb losses. But the dense web of interlocking claims in the derivatives book certainly did not help, as hedge funds and other counterparties scrambled to get their money out.

Shares in Wall Street’s fifth biggest investment bank went from $62 on Monday March 10 to $30 on Friday March 14, when Moody’s — yes — announced a two-notch downgrade. Bear was sold to JPMorgan Chase for $2 a share on the Sunday, a price that was subsequently revised to $10.

“It was the definition of a run on the bank,” says Steve Abrahams, a former senior managing director now running Milepost Capital Management.

Derivatives have never really gone away in the ensuing decade. The total value of the books at five of the biggest U.S. banks has dropped about one-quarter since tougher capital rules kicked in, from 2013. Even so, there were $157 trillion of derivatives out there at the end of last year, according to data prepared for the Financial Times by Aite Group, a Boston-based research firm. That’s about 12 percent more than the amount these banks had, entering the crisis.

At Citigroup, the derivatives book of $44 trillion is about 50 percent bigger than it was back then. That should make people uncomfortable, says Javier Paz, senior analyst at Aite. Citi “seems to have forgotten the time when they were a buck a share,” he says, alluding to the trough in March 2009.

The banks say these huge numbers — $157 trillion is more than twice global GDP — do not tell the whole story. And they are right: headline figures say nothing about the counterparties, the collateral, the offsetting positions, or whether the trades are centrally cleared. …

Still, these huge books are worrying. At a futures-industry conference in Boca Raton this week, Tom Russo argued that contracts like these just cannot be relied upon. Mr. Russo should know: as chief legal officer of Lehman Brothers for 15 years, right up until the last rites in September 2008, he found that a lot of counterparties simply refused to pay when it came to the crunch. …

Even in non-crisis situations, derivatives contracts have proven unenforceable. In the UK in the early 1990s a court ruling voided all interest-rate swap agreements between banks and local governments. Lawmakers in Milan reached a similar verdict five years ago.

So if a bank’s counterparty balks, claiming it was duped, or an entire class of contracts is declared illegal, is an auditor really going to say these things are worth 100 cents on the dollar?

“When you owe a little bit of money, you call your banker to pay it,” says Mr. Russo. “When you owe a lot of money, you call your lawyer to get out of it.”

… For the remainder of the report:

https://www.ft.com/content/201bce0c-289b-11e8-b27e-cc62a39d57a

END

RT publishes a detailed report by Ronan Manly on gold price suppression

(RT/Ronan Manly./GATA)
RT publishes detailed report by Ronan Manly on gold price suppression

Submitted by cpowell on Sun, 2018-03-18 11:59. Section: Daily Dispatches

6:55p ICT Sunday, March 18, 2018

Dear Friend of GATA and Gold:

Gold researcher Ronan Manly, whose work is regularly posted at Bullion Star and publicized by GATA, has provided to Russia Today a detailed report on the history and mechanisms of gold price suppression by major governments and central banks.

While its details will not be new to those who follow GATA, Manly’s report may be most significant for establishng again that the government of Russia, which owns RT, knows all about the gold price suppression scheme and has known at least since the deputy chairman of the Bank of Russia, Oleg Mozhaiskov, addressed the London Bullion Market Association about GATA’s work during a speech in Moscow in 2004:

http://www.gata.org/node/11723

Presumably if Russia knows all about gold price suppression and is acting on it by remaining a steady buyer of the monetary metal, nations friendly to Russia also know and may be acting on it, and denials of gold price suppression by Western sources are utter disinformation.

Manly’s report is headlined “Central Banks Manipulating and Suppressing Gold Prices — Industry Expert to RT” and it’s posted at Russia Today here:

https://www.rt.com/business/421618-central-banks-manipulating-suppressin…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]

END

This is interesting: the Pro government Turkish paper, the daily Saba, reprints Manl’ys RT exposure of gold price suppression

(courtesy Daily Saba/RT/Manly/GATA)
Pro-govt. Turkish paper reprints Manly’s RT exposure of gold price suppression

Submitted by cpowell on Mon, 2018-03-19 02:39. Section: Daily Dispatches

9:43a ICT Monday, March 19, 2018

Dear Friend of GATA and Gold:

Gold researcher Ronan Manly’s detailed report for Russia Today on the history and mechanisms of gold price suppression by central banks, called to your attention by GATA a few hours ago —

http://gata.org/node/18112

— has been quickly reprinted by the Daily Sabah, a major newspaper in Istanbul, Turkey, that is published in English, German, Arabic, and Russian:

https://www.dailysabah.com/finance/2018/03/18/central-banks-have-long-hi…

While it’s good that word of the gold price suppression scheme is getting around the world, it’s even better here because the Daily Sabah is closely aligned with the Turkish government:

https://en.wikipedia.org/wiki/Daily_Sabah

So presumably the Turkish government not only knows all about the gold price suppression scheme but also approves of its exposure.

Of course being members of the Bank for International Settlements, the coordinator of the gold price suppression scheme, most governments and central banks also know about it and cooperate with it to some extent. Indeed, six years ago the U.S. economists and fund managers Paul Brodsky and Lee Quaintance argued in a thoughtful study that central banking’s bigger scheme with gold is to redistribute it among central banks to allow them to hedge their foreign exchange exposure in U.S. dollars against the dollar’s inevitable devaluation and then to push the gold price way up to reliquefy themselves:

http://www.gata.org/node/11373

As the scheme is surreptitious and involves rigging markets, it means cheating nearly everyone around the world now and right through to its conclusion, which is why it is a cosmic wrong. But as Manly’s history of the scheme suggests, proving its existence has become like proving a truism. Central banks and governments don’t deny the scheme; they just refuse to discuss it and answer questions about it.

The only deniers left seem to be certain people in the monetary metals industry itself for whom exposure of the scheme might be bad for their business. The deniers are extras playing members of the crowd in a re-enactment of the Hans Christian Andersen fable “The Emperor’s New Clothes.” As they are assisting the bad guys, it’s GATA’s job to expose them too.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]

END
What are all those monetary metals derivatives held by a few big U.S. banks?

Submitted by cpowell on Sun, 2018-03-18 15:55. Section: Documentation

11:03p ICT Sunday, March 11, 2018

Dear Friend of GATA and Gold:

GATA’s and gold’s old friend Larry Parks, executive director of the Foundation for the Advancement of Monetary Education (FAME, http://fame.org), calls attention tonight to the third-quarter 2017 report of the U.S. Comptroller of the Currency, which shows that just several government-insured U.S. banks hold $45 billion in derivative positions related to monetary metals.

The chart disclosing these positions, appearing on Page 32 of the OCC report, is reproduced at GATA’s internet site here:

http://gata.org/files/PreciousMetalsDerivativesAtFDIC-InsuredBanks.jpg

The full OCC report is posted at GATA’s internet site here —

http://gata.org/files/OCC-Q3-2017-ReportOnBankTrading&Derivatives.pdf

— and at the OCC’s internet site here:

https://www.occ.gov/topics/capital-markets/financial-markets/derivatives…

Parks asks: Are these derivatives a “pass-through” on behalf of bank customers or are they held by the banks on their own behalf?

Of course the probability is that these positions are actually the positions of the U.S. government and other governments using the banks as intermediary cover lest more explicit public records of gold and silver market intervention be created.

After all, filings with the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission already have documented that governments and central banks are receiving discounts from CME Group, operator of the major futures exchanges in the United States, for surreptitiously trading all financial and commodity futures contracts offered by CME Group exchanges:

http://www.gata.org/node/14385

http://www.gata.org/node/14411

In January GATA published CME Group’s discount schedule for such trading by governments and central banks:

http://www.gata.org/node/17976

How likely is it that a few U.S. banks would be so involved with the monetary metals derivatives without the approval or instructions of the U.S. government?

After all, in April 2012 Blythe Masters, chief of the commodity division of one of the banks cited in the OCC derivatives report, JPMorganChase, told CNBC that the bank maintained only client positions in the monetary metals, not positions of its own:

https://www.youtube.com/watch?v=gc9Me4qFZYo

https://www.benzinga.com/media/cnbc/12/04/2478161/jp-morgan-commodities-…

https://www.ft.com/content/efc5618a-7e66-11e1-b20a-00144feab49a

http://www.zerohedge.com/news/blythe-masters-blogosphere-silver-manipula…

Of course as far as we can tell nobody from the mainstream financial news media has ever asked Masters or JPM whether those clients include governments or central banks, as CME Group has admitted in its SEC and CFTC filings that it does a lot of secret business with them.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]

* * *

END
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Your early MONDAY morning currency, Asian stock market results, important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/9 AM EST


i) Chinese yuan vs USA dollar/CLOSED DOWN 6.3320 /shanghai bourse CLOSED UP 9.37 POINTS OR 0.29% / HANG SANG CLOSED DOWN 11.79 POINTS OR 0.04%
2. Nikkei closed DOWN 195.61 POINTS OR 0.90% /USA: YEN RISES TO 106.13/

3. Europe stocks OPENED IN THE RED /USA dollar index FALL TO 89.96/Euro RISES TO 1.2359

3b Japan 10 year bond yield: RISES TO . +.043/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 105.94/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD FINALLY IN THE POSITIVE/BANK OF JAPAN LOSING CONTROL OF THEIR YIELD CURVE AS THEY PURCHASE ALL BONDS TO GET TO ZERO RATE!!

3c Nikkei now JUST BELOW 17,000

3d USA/Yen rate now well below the important 120 barrier this morning

3e WTI:: 62.07 and Brent: 65.95

3f Gold DOWN/Yen DOWN

3g Japan is to buy the equivalent of 108 billion uSA dollars worth of bond per month or $1.3 trillion. Japan’s GDP equals 5 trillion usa./“HELICOPTER MONEY” OFF THE TABLE FOR NOW /REVERSE OPERATION TWIST ON THE BONDS: PURCHASE OF LONG BONDS AND SELLING THE SHORT END

Japan to buy 100% of all new Japanese debt and by 2018 they will have 25% of all Japanese debt. Fifty percent of Japanese budget financed with debt.

3h Oil UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO +.578%/Italian 10 yr bond yield UP to 1.982% /SPAIN 10 YR BOND YIELD DOWN TO 1.359%

3j Greek 10 year bond yield FALLS TO : 4.206?????????????????

3k Gold at $1310.80 silver at:16.27 7 am est) SILVER NEXT RESISTANCE LEVEL AT $18.50

3l USA vs Russian rouble; (Russian rouble DOWN 34/100 in roubles/dollar) 57.85

3m oil into the 62 dollar handle for WTI and 65 handle for Brent/

3n Higher foreign deposits out of China sees huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 106.13 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning 0.9532 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.1708 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

3p BRITAIN VOTES AFFIRMATIVE BREXIT/LOWER PARLIAMENT APPROVES BREXIT COMMENCEMENT/ARTICLE 50 COMMENCES MARCH 29/2017

3r the 10 Year German bund now POSITIVE territory with the 10 year RISING to +0.578%

The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.

4. USA 10 year treasury bond at 2.862% early this morning (THIS IS DEADLY TO ALL MARKETS). Thirty year rate at 3.097% /

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

(courtesy Jim Reid/Bloomberg/Deutsche bank/zero hedge)

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SPRING Breaking Upon Us Now

MMgys

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Closing Price for Oil, 4:30 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM:$62.13

BRENT: $66.08

USA 10 YR BOND YIELD: 2.8537% THIS RAPID ASSENT IN YIELD IS VERY DANGEROUS/DERIVATIVES START TO BLOW UP/

USA 30 YR BOND YIELD: 3.0900%/

EURO/USA DOLLAR CROSS: 1.2339 UP .0053 (UP 53 BASIS POINTS)

USA/JAPANESE YEN:106.12 UP 0.152/ YEN DOWN 15 BASIS POINTS/ very dangerous as yen carry traders are getting killed/yen continues to rise despite the NYSE rising. however gold is now breaking away from yen influence.

USA DOLLAR INDEX: 89.89 DOWN 34 cent(s)/dangerous as the lower the dollar the higher the inflation.

The British pound at 5 pm: Great Britain Pound/USA: 1.4029: up 0.0100 (FROM LAST NIGHT up 100 POINTS)

Canadian dollar: 1.3064 UP 21 BASIS pts

German 10 yr bond yield at 5 pm: +0.568%


VOLATILITY INDEX: 19.43 CLOSED UP 3.63

LIBOR 3 MONTH DURATION: 2.20% ..DANGEROUS LIBOR RISING EVERY DAY

END

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The Week Is Finally Here: Gold & Silver Ready To Crash The Fed’s Party
March 19, 2018 27 6099

SD Outlook: The week we’ve been waiting for has arrived. It’s been a painful ten weeks, but now, it’s showtime. Here’s why…

Let’s start with the main event: The supposed rate hike and Powell’s first presser love-fest.

Do I think the Fed will hike?

Yes I do.

If they are going to keep the illusion that they are shrinking their balance sheet, and by “hiking” 25 basis points, with the float of the overnight funds rate, we’d still be looking at somewhere around a 1.62% effective rate. Hardly any rate at all and still below inflation, thus real rates are negative.

The question is whether the Fed is playing ball on Team Trump?

When the market was coming down in February, I asked if the market was taken down to send a message to President Trump, render Trump ineffective, or curb the masses’ enthusiasm towards him. We will get further clues as we move forward because the one thing that could help in President Trump’s trade wars would be the illusion of a super-strong U.S. economy. So we’ll see.

But this week, it’s all eyes on the Fed.

Monday and Tuesday start the week slow on events:

Bostic may stick his foot in the mouth today, and while Bostic is considered small potatoes in the world of Mr. Potato Feds, Bostic is still a voting member this year. so we’ll see if he can talk the markets, which we commonly call “jawboning”.

On Tuesday the FOMC meeting begins, but those are “closed door” meetings where they’re probably just eating pizza and watching Wolf of Wall Street or Trading Places or something like that.

On Wednesday at 2:00 p.m. EST, that’s when the fun begins:

You see, the Fed has the free will to do whatever they want to interest rates at any time. They don’t have to wait until the conclusion of a meeting to hike, hold or cut, and actually, the best would be to make their move at the beginning of the meeting on Tuesday so they would have a couple days of market action to see and talk about what the immediate effect was, but I digress. They know the effect because they help create it, and for now, they are in control.

But for now, these markets are so massaged, caressed and manipulated that anything other than sticking to the tight script could cause the system to go haywire.

So all eyes are on the Fed on Wednesday at 2:00 p.m. EST.

As a side note, there are also several market moving data releases on Thursday and Friday. It’s very well possible there are two or more versions of that data set up, and depending on what happens to the markets on Wednesday afternoon, if the “desired” effect was not achieved, as in, if the Fed makes a “policy error”, then we could see those data releases with data that brings the narrative back in line.

Do I think the Fed has that much control?

Working with the Plunge Protection Team and together with Stevie’s ESF, yes I do.

The wildcard in all of this is Powell’s speech. That could move markets in addition to the hike. This is the first press conference with Powell at the helm, so it will be a fun one to watch. Grab some popcorn for that one.

With the main event on Wednesday, what can we look for in the markets before and after?

I’m looking for continued pressure on gold & silver. There is the chance the metals rally in anticipation of the move, but we must go with the working assumption that the markets will be prepped in advance for Powell.

Remember, if they smash too hard, especially in silver, there could be a large spec short squeeze which could cause the prep work to backfire.

https://www.silverdoctors.com/gold/gold-news/the-week-is-finally-here-gold-silver-ready-to-crash-the-feds-party/

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and Thank You All for Being With Us Tonight


Wishing You All a Very Nice Spring Day <3

MMgys

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