The GraveYard Shift

[JD400]

GYS 5/16/18 Complete Episode Transcript

Bringing Data & News To Life


Good Morning Ladies and Gentlemen

MMgys

~Welcome To :

~*~Mining & Metals Du Jour~*~ Graveyard Shift~


Always a Pleasure To Have You with Us



MMgys

OK Lets Go >>>>>>>>>>>>>>>>>>

Onwards to the Data News Pics & Fun >>>>>>>>>>>>>>>>>>>>>>>>>



xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Ex-UBS Trader Found Not Guilty Of Spoofing Precious Metals Markets

It’s no wonder Andre Flotron has such a big smile on his face…



As we detailed previously, following news coverage of the charging of five precious metals traders and three banks in January, Commodities Futures Trading Commission and Department of Justice documents reveal a global criminal cabal of 16 traders operating in at least four major financial institutions between 2008 and 2015 to defraud COMEX gold and silver futures markets.



Of the many examples published, one reveals a UBS AG precious metals trader known as “The Legend,” spoofed sell orders to push down the price of gold futures on September 6, 2011, the day the gold market attained, and commenced a lengthy retreat, from its historic peak of US $1,923.70.

Flotron, a Swiss citizen, worked at UBS in Stamford and then in Zurich. He was arrested in 2017 while visiting his girlfriend in New Jersey. As Bloomberg notes,prosecutors say Flotron manipulated markets by placing “trick” buy or sell orders, and quickly canceling them to either shift prices up or down.

He was charged with scheming to engage in the practice with a subordinate, whom he trained to “spoof,” and another trader over a period of about five years starting in 2008. Economic turmoil at the time led to historic rallies in the prices of precious metals, especially gold.

Witnesses for the government included the former trainee, Mike Chan, 35, who testified that he learned Flotron’s methods while the two were working at the Swiss bank’s Stamford, Connecticut, office in 2008. Chan said he sat next to Flotron and learned to spoof by watching over his shoulder.

Chan then took those skills and applied them when he was transferred to the bank’s Singapore office, where he engaged in a separate conspiracy with a former trader for Deutsche Bank AG.

So having got that background out of the way, the big news of the day is…

Bloomberg reports that Andre Flotron was found not guilty of scheming to manipulate futures markets through a practice known as spoofing.

Andre Flotron, 54, was cleared of wrongdoing by a federal jury in New Haven, Connecticut, on Wednesday of a single count of conspiracy to engage in commodities fraud.

Bloomberg reports that Flotron’s defense attorney Marc Mukasey said in closing arguments that the government’s case was “prosecution by statistics” through charts and graphs and relied on testimony from two former traders who cooperated in exchange for agreements that they wouldn’t be prosecuted, and couldn’t be trusted.

“You can’t take their word for anything,” Mukasey said, noting that neither cooperator told jurors they explicitly agreed to spoof with Flotron. The practice entailed placing and quickly canceling orders to shift prices up or down.

“They’ve got a motive to tell the story the government wants.”

He could have faced as long as 25 years in prison if convicted, but now he is free to go back to not-spoofing precious metals markets.

“We’re extremely pleased with the jury’s verdict,” Mukasey said.

“Justice has been done.”

Nope – nothing to see here, move along average joes.

end

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx



The Metals:



Gold gained $4.30 to $1296.80 in Asia before it dropped back to $1286.50 in London and then bounced back higher in New York, but it still ended with a loss of 0.16%. Silver edged up to $16.342 before it fell back to $16.187, but it then climbed to new session highs into the close and ended with a gain of 0.55%.



Euro gold rose to about €1093, platinum lost $12 to $886, and copper climbed a couple of cents to about $3.07.



Gold and silver equities waffled near unchanged and ended mixed.


The Markets:



Oil turned slightly higher after the Energy Information Administration reported that crude inventories fell 1.4 million barrels, gasoline inventories fell 3.8 million barrels, and distillates fell 92,000 barrels.


The U.S. dollar index traded mostly higher as the euro fell following “reports that a likely future Italian government would seek debt forgiveness from European creditors.”


Treasuries traded mixed as the Dow, Nasdaq, and S&P mostly rose on decent economic data and surprisingly positive results from Macy’s.

Among the big names making news in the market today were Netflix, Amazon, and Macy’s.


The Miners:



Randgold’s (GOLD) grant of awards to directors, Yamana Gold’s (AUY) first quarter production, Avino’s (ASM) first quarter results, and MAG Silver’s (MAG) first quarter results were among the big stories in the gold and silver mining industry making headlines today.



WINNERS

1. Gold Resource


GORO +5.98% $5.67

2. Freeport


FCX +4.26% $16.64

3. Taseko


TGB +2.56% $1.20



LOSERS

1. Avino


ASM -4.90% $1.36

2. Harmony


HMY -3.78% $1.78

3. Seabridge


SA -2.80% $10.40

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

GATA Posts:

Who cares about 'peak gold' until there's 'peak paper'?

Submitted by cpowell on Wed, 2018-05-16 23:18. Section: Daily Dispatches

'We're Right at Peak Gold': All Major Deposits Have Been Discovered, Declares Goldcorp Chairman

By Gabriel Friedman
National Post, Toronto
Wednesday, May 16, 2018

Ian Telfer, chairman of Goldcorp Inc., is the latest industry magnate to predict the world has reached "peak gold," saying that from here on out, mine production will continue to decline because all the major deposits have been discovered.

"If I could give one sentence about the gold mining business ... it's that in my life, gold produced from mines has gone up pretty steadily for 40 years," Telfer said. "Well, either this year it starts to go down, or next year it starts to go down, or it's already going down."

"We're right at peak gold here," he added.

Although gold prices sank 2 percent to US$1,289.86 per ounce this week, sliding below the psychologically significant US$1,300 mark for the first time this year, Telfer said that day that he remained bullish and predicted gold prices would surpass US$1,500 or US$1,600 per ounce before the end of the year. ...

... For the remainder of the report:

http://business.financialpost.com/commodities/mining/were-right-at-peak-...
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


As currency crisis worsens, Iranians invest in gold


Submitted by cpowell on Wed, 2018-05-16 20:27. Section: Daily Dispatches

Wednesday, May 16, 2018

Iranians are reportedly investing in gold after the Central Bank of Iran last week issued strict limits on the amount of foreign currency travelers can take out of the country amid a deepening currency crisis.

With exchange offices forbidden to sell foreign currency and new rules limiting the amount of foreign currency travelers can take out of the country to 5,000 euros ($5,980) if leaving by air and 2,000 euros ($2,392) if exiting by land or sea, gold has become the new currency of choice for people hoping to move their money out of the country.

Referring to the formation of a "new forex market," the chairman of the Iran Gold & Jewelry Association, Hossain Pendarvand, says gold has replaced the dollar in local markets and that despite protective measures taken by the Central Bank of Iran, money is still finding its way out of the country, but now in the form of gold.

"The gold products market is suffering from a recession, while the market for melted gold is flourishing, indicating that in the absence of the dollar, people have started buying more gold and taking it out of Iran," Pendarvand told state-run Iran Students News Agency on Tuesday. ...

... For the remainder of the report:

https://en.radiofarda.com/a/as-currency-crisis-worsens-iranians-begin-to...
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LBMA suspends Russian precious metals refinery from 'good delivery' lists

Submitted by cpowell on Tue, 2018-05-15 23:44. Section: Daily Dispatches

By Peter Hobson
Reuters
Tuesday, May 15, 2018

LONDON -- The London Bullion Market Association said today it had suspended the Ekaterinburg Non-Ferrous Metals Processing Plant from its gold and silver good delivery lists due to "ownership-related issues."

The refinery in Russia is controlled by Moscow-based conglomerate Renova Group, which along with its key shareholder, billionaire Viktor Vekselberg, was sanctioned by the United States on April 6.

The LBMA said in a notice the refinery would be removed from its active good delivery lists from May 14.

The good delivery lists contain refineries whose gold and silver bars meet the required standard for acceptability in the London bullion market, the world's largest.

The London Bullion Market Association did not comment when asked whether the suspension was linked directly to the sanctions. "Due diligence in regard to the credibility of the lists is continuously reviewed on an ongoing basis," LBMA chief executive Ruth Crowell said. ...

... For the remainder of the report:

https://www.reuters.com/article/usa-russia-sanctions-gold/update-1-lbma-...

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Data Pack Data Pack Data Pack Data Pack Data Pack Data Pack

May 16/GOLD RISES $1.05 TO $1292.00/SILVER UP 10 CENTS TO $16.39/ HUGE 1.883 MILLION OZ OF SILVER ADDED INTO THE SLV/DESPITE THE SHELLACKING IN GOLD/SILVER YESTERDAY WE HAD A MONSTROUS 20,000 EFP’S ISSUED IN GOLD AND OVER 4,000 EFP ISSUANCE FOR SILVER ON TOP OF A RISE IN OPEN INTEREST/SILVER NOW HAD 30.5 MILLION OZ STANDING FOR DELIVERY/ITALY’S NEW COALITION GOVERNMENT RELEASE ITS NEW PLATFORM AND IT IS A DILLY!/

May 16, 2018 · by harveyorgan · in Uncat




GOLD: $1292.00 UP $ 1.05 (COMEX TO COMEX CLOSINGS)

Silver: $16.39 UP 10 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1291..00

silver: $16.40

For comex gold:

MAY/
NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT:6 NOTICE(S) FOR 600 OZ.

TOTAL NOTICES SO FAR 630 FOR 63000 OZ (1.9595 tonnes)

For silver:

MAY
95 NOTICE(S) FILED TODAY FOR
475,000 OZ/

Total number of notices filed so far this month: 6039 for 30,195,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: BID $8327/OFFER $8427: DOWN $92(morning)
Bitcoin: BID/ $8237/offer $8337: DOWN $182 (CLOSING/5 PM)


end

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix: 2:15 pm
First Shanghai gold fix gold: 10 pm est: 1300.30

NY price at the same time: 1293.95

PREMIUM TO NY SPOT: $6.35

ss
Second gold fix early this morning: 1303.20

USA gold at the exact same time: 1294.95

PREMIUM TO NY SPOT: $8.25

AGAIN, SHANGHAI REJECTS NEW YORK PRICING.

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total OPEN INTEREST SURPRISINGLY AND SHOCKINGLY ROSE BY A HUGE 3183 CONTRACTS FROM 195,298 RISING TO 198,065 DESPITE YESTERDAY’S HUGE 33 CENT LOSS IN SILVER PRICING. WE ARE NOW WITNESSING OUR USUAL AND CUSTOMARY COMEX LONG LIQUIDATION AS WE ENTERED INTO THE ACTIVE DELIVERY MONTH OF MAY AS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON. WE WERE NOTIFIED THAT WE HAD A HUMONGOUS SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 4034 EFP’S FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 4034 CONTRACTS. WITH THE TRANSFER OF 4034 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 4034 EFP CONTRACTS TRANSLATES INTO 20,17 MILLION OZ ACCOMPANYING:

1.THE 33 CENT FALL IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR MAY COMEX DELIVERY. (30.460 MILLION OZ)

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF APRIL: (FINAL)

24,201 CONTRACTS (FOR 12 TRADING DAYS TOTAL 24,201 CONTRACTS) OR 121.005 MILLION OZ: AVERAGE PER DAY: 2016 CONTRACTS OR 10.083 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 121.005 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 17.28% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1,266.33 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR FEB 2018: 244.95 MILLION OZ

ACCUMULATION FOR MARCH 2018: 236.67 MILLION OZ

ACCUMULATION FOR APRIL 2018: 385.75 MILLION OZ

RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX OF 3183 DESPITE THE 33 CENT LOSS IN SILVER PRICE. WE HAVE NOW ENTERED THE NEW ACTIVE MONTH OF MAY. THE CME NOTIFIED US THAT IN FACT WE HAD AN GIGANTIC SIZED EFP ISSUANCE OF 4034 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 (SEE COMEX DATA) . FROM THE CME DATA: 4034 EFP CONTRACTS FOR JULY, AND ZERO FOR ALL OVER MONTHS FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 4034). TODAY WE GAINED 7217 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e. 4034 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN INCREASE OF 3183 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 33 CENTS AND A CLOSING PRICE OF $16.29 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS ACTIVE MAY DELIVERY MONTH. IT SURE LOOKS LIKE A FAILED BANKER SHORT COVERING EXERCISE!!

In ounces AT THE COMEX, the OI is still represented by UNDER 1 BILLION oz i.e. .991 MILLION OZ TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED AT THE COMEX: 95 NOTICE(S) FOR 475,000 OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51 ON APRIL 9.2018.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH: 27 MILLION OZ , APRIL: 2.485 MILLION OZ AND MAY: 30.460 MILLION OZ )
HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ (FINAL)

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest ROSE BY A STRONG 5775 CONTRACTS UP TO 519,958 DESPITE THE LOSS IN THE GOLD PRICE/YESTERDAY’S TRADING (LOSS OF $27.25). WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN ATMOSPHERIC SIZED 20,304 CONTRACTS : JUNE SAW THE ISSUANCE OF 19,954 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS AND AUGUST SAW THE ISSUANCE OF: 350 CONTRACTS WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 519,958. 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. . 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 HUMONGOUS SIZED OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 5775 OI CONTRACTS INCREASED AT THE COMEX AND AN ATMOSPHERIC SIZED 20,304 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 26,079 CONTRACTS OR 26,079,000 OZ = 81.11 TONNES. AND ALL OF THIS OCCURRED WITH A LOSS OF $27.25 ???

YESTERDAY, WE HAD 12005 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 113,980 CONTRACTS OR 11,398,000 OZ OR 354.52 TONNES (12 TRADING DAYS AND THUS AVERAGING: 9,498 EFP CONTRACTS PER TRADING DAY OR 949,800 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 12 TRADING DAYS IN TONNES: 354.52 TONNES

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

THUS EFP TRANSFERS REPRESENTS 354.52/2550 x 100% TONNES = 13.90% OF GLOBAL ANNUAL PRODUCTION SO FAR IN APRIL ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 3,112.46* TONNES *SURPASSED ANNUAL PROD’N

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018: 713.84 TONNES (21 TRADING DAYS)

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

Result: A HUMONGOUS SIZED INCREASE IN OI AT THE COMEX OF 5775 DESPITE THE $27.25 FALL IN PRICE // GOLD TRADING YESTERDAY ($27.25 LOSS). WE ALSO HAD AN ATMOSPHERIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 20,304 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. 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 20,304 EFP CONTRACTS ISSUED, WE HAD A GIGANTIC SIZED NET GAIN OF 26,079 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

20,304 CONTRACTS MOVE TO LONDON AND 5775 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 81.11 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THESE OCCURRED AT THE COMEX WITH A LOSS OF $27.25 IN TRADING!!!.

we had: 6 notice(s) filed upon for 600 oz of gold at the comex.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD…

WITH GOLD UP $1.05 /NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 856.17 TONNES

Inventory rests tonight: 856.17 tonnes.

SLV/

WITH SILVER UP 10 CENTS A HUGE CHANGES IN THE SILVER INVENTORY AT THE SLV INVENTORY/ A DEPOSIT OF 1.883 MILLION OZ INTO THE SLV

/INVENTORY RESTS AT 321.474 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 SIZED 3183 CONTRACTS from 194,882 UP TO 198,065 (AND, CLOSER TO THE NEW COMEX RECORD SET /APRIL 9/2017 AT 243,411/SILVER PRICE AT THAT DAY: $16.53). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 OVER ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89. OUR CUSTOMARY MIGRATION OF COMEX LONGS MORPH INTO LONDON FORWARDS CONTINUES AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: , 0 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), AND 4034 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE: 4034 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI GAIN AT THE COMEX OF 3183 CONTRACTS TO THE 4034 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A HUMONGOUS GAIN OF 7217 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 36.08 MILLION OZ!!! AND THIS OCCURRED WITH THAT HUGE 33 CENT LOSS IN PRICE . THE BANKERS ORCHESTRATED THEIR RAID THROUGHOUT LAST WEEK DESPERATELY TRYING TO PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES BUT TO NO AVAIL. JUDGING BY THE RECORD NUMBER OF EFP ISSUANCE DURING LAST MONTH OF APRIL AT 385.75 MILLION OZ AND THE TOTAL OI GAIN ON THE TWO EXCHANGES, THE CONSTANT RAIDS, LIKE YESTERDAY ARE NOW BEING CALLED UPON BY OUR BANKER FRIENDS IN AN ATTEMPT TO SHAKE AS MANY SILVER LEAVES FROM THE SILVER TREE AS POSSIBLE AND JUDGING BY THE RESULTS TO YESTERDAYS ACTION THEY WERE NOT AT ALL SUCCESSFUL.

RESULT: A CONSIDERABLE SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 33 CENT FALL IN SILVER PRICING YESTERDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 4034 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR APRIL, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY 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

)WEDNESDAY MORNING/TUESDAY NIGHT: Shanghai closed DOWN 22.55 points or 0 .71% /Hang Sang CLOSED DOWN 41.83 points or 0.13% / The Nikkei closed DOWN 100.79 POINTS OR 0.44% /Australia’s all ordinaires CLOSED UP .15% /Chinese yuan (ONSHORE) closed DOWN at 6.3764/Oil DOWN to 71.19 dollars per barrel for WTI and 77.80 for Brent. Stocks in Europe OPENED MIXED/RED. ONSHORE YUAN CLOSED DOWN AT 6.3764 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3657/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/
/NORTH KOREA/SOUTH KOREA



i)North Korea/South Korea/USA

North Korea now threatens to abandon the Trump summit as Kim is furious over the Bolton comments. The question will he do next with his nuclear “mountain” destroyed

( zerohedge)
b) REPORT ON JAPAN
3 c CHINA

i)Good reason to whack gold today: China unleashes an “island encirclement” war drill over Taiwan

( zerohedge)
ii)Looks like the globalists are back in the saddle as Peter Navarro has been removed from Chinese trade talks as he behaved erratically and unprofessional
(courtesy
zerohedge)
4. EUROPEAN AFFAIRS

Italy

i)Quite a platform: cancellation of 250 billion euros of debt, a plan to exit the Euro if the will of the people so desire, stop immigration etc. This is a non starter

( Mish Shedlock/Mishtalk)

ii)As promised, chaos in Italy as the new government to be demands debt writedown a la Greece. Italian bonds skyrocket in yield, (dump in price) amid this political chaos

( zerohedge)

iii This is a surprise: Italian bond futures rise as does the Euro on news of the Italian coalition agreement that was reached Wednesday afternoon

(courtesy zerohedge)

iv)A good one: Is the real target of Iran sanctions Europe:

( Mish Shedlock/Mishtalk)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)IRAQ

A good look at who might lead Iraq and it is the populist Sadr who seems to be in the lead. The USA led coalition is far behind and so is the Iranian faction

( John Rubino/DollarCollapse..com)
ii)IRANIran’s currency, the rial is now past 85,000 per USA dollar as inflation is tearing this country apart. Citizens have spent over $2.5 billion dollars trying to get cash out of the country. Iran officials are trying to arrange curbs against crypto use and other black market operations

( Michael Kern/SafeHaven.com)_

6 .GLOBAL ISSUES
7. OIL ISSUES

Oil and gasoline rise after a larger than expected crude drawdown. We continue with record production out of the USA

( zerohedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Craig Hemke on yesterday’s raid
(courtesy Craig Hemke/GATA)

ii)As we pointed out to you yesterday, China’s holdings of USA treasuries rises to a 5 month high

(courtesy Bloomberg/GATA)

iii)Vancouver Sun

Ian Telfer of Goldcorp pounds the table that all of the major deposits have been already discovered and thus we have reached peak gold

(courtesy Gabriel Friedman.Vancouver Sun)
10. USA stories which will influence the price of gold/silver
i)EARLY MORNING DATA
a)This is a no brainer: mortgage refinance applications plunge to a 10 yr low due to the Feds raising rates

( zerohedge)

b)The higher interest rates caused housing starts to tumble as well as permits in April

( zerohedge)
c)Utilities and mining production growth has now stabilized at 7 year highs but still we need to see higher growth to equal to rise in the Dow. Auto production is down

(courtesy zerohedge)

ii )This afternoon trading

Russel 2000 surges despite USA data disappointment

(zerohedge)

iii)As always, a great commentary from David Stockman of the USA folly of empire building
(courtesy David Stockman)

iv )Is Jeff Bezos going in for the kill; He is offering steep discounts to Prime Members are rising energy prices are squeezing rivals

(courtesy zerohedge)

v)Judge orders an ex Deutsche bank trader to face libor rigging charges. The key sentence: he tried to get off as his “compelled testimony to UK investigators fatally taints a USA criminal case.

( Bloomberg/Voris)

v)SWAMP STORIES
a)Judge Amy Berman kills Manafort’s motion to dismiss. However we still have to hear from that all important judge Ellis
( zerohedge)
b)Congress is reviewing the 2017 GPS testimony on reports of a spy in the Trump campaign
Important..
( zerohedge)
c)John Brennan was feeding President Obama totally unverified information from the Steel dossier and also he contradicted his 2017 testimony many times
(y zerohedge)
d))Trump repaid Cohen the 130,000 dollars in 2017

( zerohedge)
Let us head over to the comex:

The total gold comex open interest ROSE BY A STRONG SIZED 5,775 CONTRACTS UP to an OI level 519,958 DESPITE THE LOSS IN THE PRICE OF GOLD ($27.25 LOSS/ YESTERDAY’S TRADING). FOR TWO YEARS STRAIGHT WE HAVE NOTICED THAT ONE WEEK PRIOR TO FIRST DAY NOTICE OF AN ACTIVE DELIVERY MONTH THE COMEX OPEN INTEREST CONTRACTS AND EFP’S NOTICES EXPONENTIALLY INCREASE. THE CME REPORTS THAT THE BANKERS ISSUED AN ATMOSPHERIC SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 19,954 CONTRACTS ISSUED: FOR JUNE, 350 CONTRACTS ISSUED, FOR AUGUST 0 CONTRACTS AND ZERO FOR ALL OTHER MONTHS: TOTAL 20,304 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 BASED FORWARD.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 26,079 OI CONTRACTS IN THAT 20,304 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 5775 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES: 26,079 contracts OR 2,607,900 OZ OR 81.11 TONNES.

Result: A CONSIDERABLE INCREASE IN COMEX OPEN INTEREST DESPITE THE FALL IN PRICE YESTERDAY (ENDING UP WITH AN LOSS OF $27.25). THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 26,079 OI CONTRACTS..

We have now entered the non active contract month of MAY where we GAINED 2 contracts RISING TO 106 contracts. We had 3 notices filed upon yesterday, so we GAINED 5 contracts or an additional 500 oz will stand in this non active delivery month of May SO SOMEBODY WAS IN URGENT NEED OF SOME PHYSICAL GOLD AT THIS SIDE OF THE POND.

The really big June contract month saw a LOSS of 647 contracts DOWN to 246,322 contracts. JULY saw a GAIN of 122 contracts to stand at 253. The next big delivery month after June is August and here the OI ROSE BY 5078 contracts UP to 182,929.

We had 6 notice(s) filed upon today for 600 oz at the comex

THERE IS NO QUESTION THAT THE COMEX DOES NOT HAVE ANY GOLD TO SATISFY UPON OUR LONGS.
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 206,561 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 536,892 contracts

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now for the wild silver comex results.

Total silver OI ROSE BY A HUGE SIZED 3183 CONTRACTS FROM 194,882 DOWN TO 198,065 (AND CLOSER TO THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS) DESPITE THE 33 CENT FALL IN SILVER PRICING YESTERDAY. SINCE WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF MAY. WE WERE INFORMED THAT WE HAD A GIGANTIC SIZED 4034 EFP CONTRACT ISSUANCE FOR JULY AND ZERO FOR ALL OTHER MONTHS. THESE EFPS WERE ISSUED TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. THE TOTAL EFP’S ISSUED: 4034. ON A NET BASIS WE GAINED 7217 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 3183 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 4034 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES: 7217 CONTRACTS

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the active delivery month of MAY and here the front month ADVANCED BY 32 contracts RISING TO 148 contracts. We had 35 notices filed upon yesterday so we SURPRISINGLY GAINED 67 contracts or 335,000 additional ounces will stand for delivery in this active delivery month of May AS SOMEBODY AGAIN WAS DESPERATE FOR PHYSICAL SILVER ON THIS SIDE OF THE POND..

June saw a GAIN of 11 contracts to stand at 795 The next big delivery month for silver is July and here the OI GAINED 1574 contracts UP to 137,494. The next active delivery month after July for silver is September and here the OI ROSE by 797 contracts UP to 26,100

We had 95 notice(s) filed for 475,000 OZ for the MAY 2018 contract for silver
INITIAL standings for MAY/GOLD

MAY 16/2018.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
5021.758 OZ
Scotia
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz nil OZ
No of oz served (contracts) today
6 notice(s)
600 OZ
No of oz to be served (notices)
100 contracts
(10000 oz)
Total monthly oz gold served (contracts) so far this month
630 notices
63000 OZ
1.9595 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
FINALLY AFTER MANY WEEKS, WE HAVE A PULSE AT THE GOLD COMEX TODAY
we had 0 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 Brinks: 198.395 oz
total customer withdrawals: 198.395 oz
we had 0 customer deposit
total customer deposits: nil oz
we had 0 adjustment(s)
i

For MAY:
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 6 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 4 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
To calculate the INITIAL total number of gold ounces standing for the MAY. contract month, we take the total number of notices filed so far for the month (630) x 100 oz or 63000 oz, to which we add the difference between the open interest for the front month of MAY. (106 contracts) minus the number of notices served upon today (6 x 100 oz per contract) equals 73,000 oz, the number of ounces standing in this active month of APRIL (2.2706 tonnes)

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

No of notices served (630 x 100 oz) + {(104)OI for the front month minus the number of notices served upon today (6 x 100 oz )which equals 73,000 oz standing in this active delivery month of MAY . THERE ARE 9.0356 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE GAINED 500 OZ OF GOLD (5 CONTRACTS) STANDING IN THIS NON ACTIVE DELIVERY MONTH OF MAY AS SOMEBODY BADLY NEEDED PHYSICAL GOLD AT THIS SIDE OF THE POND..
total registered or dealer gold: 290,495.119 oz or 9.0356 tonnes
total registered and eligible (customer) gold; 9,044,302.590 oz 281.31 tones
THE COMEX IS AGAIN IN STRESS AS ONLY 9.0356 TONNES OF GOLD ARE LEFT TO SERVICE DELIVERIES. THERE IS HARDLY ANY GOLD AT THE COMEX TO SERVE UPON LONGS AND THUS THE REASON FOR THE EFP TRANSFER OVER TO LONDON.

IN THE LAST 18 MONTHS 73 NET TONNES HAS LEFT THE COMEX.

end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
MAY INITIAL standings/SILVER
MAY 16/ 2018
Silver Ounces
Withdrawals from Dealers Inventory nil oz
Withdrawals from Customer Inventory
995.300 oz
Delaware
Deposits to the Dealer Inventory
nil
oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
95
CONTRACT(S)
(475,000 OZ)
No of oz to be served (notices)
53 contracts
(265,000 oz)
Total monthly oz silver served (contracts) 6039 contracts

(30,195,000 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

i

total dealer deposits: nil oz

we had 0 deposits into the customer account

i) Into JPMorgan: nil oz

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

JPMorgan now has 140 million oz of total silver inventory or 53.4% of all official comex silver. (140 million/263 million)

JPMorgan did not deposit into its warehouses (official) today.

ii) Into everybody else: 0

total customer deposits today: 0 oz

we had 1 withdrawals from the customer account;

i) out of Delaware: 995.300 oz

total withdrawals; 995.300 oz

we had 0 adjustments

i

total dealer silver: 69.161 million

total dealer + customer silver: 267.546 million oz

The total number of notices filed today for the MAY. contract month is represented by 95 contract(s) FOR 475,000 oz. To calculate the number of silver ounces that will stand for delivery in MAY., we take the total number of notices filed for the month so far at 6039 x 5,000 oz = 30,195,000 oz to which we add the difference between the open interest for the front month of MAY. (148) and the number of notices served upon today (95 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the MAY contract month: 6039(notices served so far)x 5000 oz + OI for front month of MAY(148) -number of notices served upon today (95)x 5000 oz equals 30,460,000 oz of silver standing for the MAY contract month

WE GAINED 67 CONTRACTS OR AN ADDITIONAL 335,000 OZ WILL STAND AT THE COMEX AS SOMEBODY WAS IN URGENT NEED OF PHYSICAL SILVER ON THIS SIDE OF THE POND.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

ESTIMATED VOLUME FOR TODAY: 34,094 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 101,096 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 101,096 CONTRACTS EQUATES TO 505 MILLION OZ OR 72.1% 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 -1.72% (MAY16/2018)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.65% to NAV (MAY 16/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -1.72%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.65%/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 FALLS TO -2.15%: NAV 13.40/TRADING 13.10//DISCOUNT 2.15.

END

And now the Gold inventory at the GLD/

MAY 16./WITH GOLD UP $1.05: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 856.17 TONNES

MAY 15/WITH GOLD DOWN $27.35, THE CROOKS WITHDREW 10 TONNES OF GOLD FROM THE GLD WHICH WAS USED IN THE RAID TODAY/INVENTORY RESTS AT 856.17 TONNES

MAY 14/ WITH GOLD DOWN $2.35: A HUGE DEPOSIT OF 4.68 TONNES OF GOLD INTO THE GLD and then a withdrawal of 1.48 tonnes /INVENTORY RESTS AT 866.17

A net gain of 3.2 tonnes of gold.

MAY 11/WITH GOLD DOWN $1.75/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 862.96 TONNES/

MAY 10/WITH GOLD UP $9.60/A WITHDRAWAL OF 1.17 TONNES FROM THE GLD/INVENTORY RESTS AT 862.96 TONNES/SUCH CROOKS

MAY 9/WITH GOLD DOWN $0.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 864.13 TONNES

MAY 8/WITH GOLD DOWN $0.10/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 864.13 TONNES

MAY 7/WITH GOLD DOWN $0.55/ANOTHER WITHDRAWAL OF 1.47 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 864.13 TONNES

MAY 4/WITH GOLD UP $2.05/A WITHDRAWAL OF 1.13 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 865.60 TONNES

MAY 3/WITH GOLD UP $7.05/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 866.77 TONNES

MAY 2/WITH GOLD DOWN $1.15/ A HUGE WITHDRAWAL OF 4.43 TONNES FROM THE GLD/INVENTORY RESTS AT 866.77 TONNES

MAY 1/WITH GOLD DOWN $12.15/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES

APRIL 30/WITH GOLD DOWN $4.05/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES.

APRIL 27./WITH GOLD UP $5.90/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES/

APRIL 26/WITH GOLD DOWN $4.90/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES

APRIL 25/AFTER 9 CONSECUTIVE DAYS OF NO MOVEMENT OF GOLD INTO OUT OF THE GLD, WE HAD A HUGE DEPOSIT OF 5.31 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 871.20 TONNES.

APRIL 24./WITH GOLD UP $9.90, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

APRIL 23.2018/WITH GOLD DOWN $14.00/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES.

APRIL 20/WITH GOLD DOWN $10.20: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES

APRIL 19/WITH GOLD DOWN $4.25: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

APRIL 18/WITH GOLD UP $3.65: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES

APRIL 17/WITH GOLD DOWN $1.00 NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 16/WITH GOLD UP$2.80/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 13/WITH GOLD UP $6.15, A HUGE DEPOSIT OF 5.90 TONNES INTO THE GLD INVENTORY/INVENTORY RESTS AT 865.89 TONNES

April 12/WITH GOLD DOWN $17.40/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

April 11/WITH GOLD UP $13.85/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859,99 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

MAY 16/2018/ Inventory rests tonight at 856.17 tonnes

*IN LAST 383 TRADING DAYS: 84.84 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 333 TRADING DAYS: A NET 71.46 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory/

MAY 16./WITH SILVER UP 10 CENTS/A HUGE DEPOSIT OF 1.883 MILLION OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 321.474 MILLION OZ

MAY 15/WITH SILVER DOWN 33 CENTS, NO CHANGES AT THE SLV; THE CROOKS COULD NOT BORROW ANY SILVER BECAUSE THERE IS NONE: INVENTORY RESTS AT 319.591 MILLION OZ

MAY 14/WITH SILVER DOWN 10 CENTS/A SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ A WITHDRAWAL OF 858,000 FROM THE SLV/INVENTORY RESTS AT 319.591 MILLION OZ/

MAY 11/WITH SILVER DOWN 2 CENTS/THE CROOKS WITHDREW A MONSTROUS 2.824 MILLION OZ FROM THE SLV INVENTORY/INVENTORY RESTS AT 320.439 MILLION OZ/

MAY 10/WITH SILVER UP 22 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 323.263 MILLION OZ/

MAY 9/WITH SILVER UP 6 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 323.263 MILLION OZ/

MAY 8/WITH SILVER DOWN 2 CENTS:NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 323.263 MILLION OZ.

MAY 7/WITH SILVER FLAT: A BIG CHANGE IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF 942,000 OZ OF SILVER FROM THE SLV INVENTORY/INVENTORY RESTS AT 323.263 MILLION OZ/

MAY4/WITH SILVER UP 5 CENTS/A BIG CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 1.224 MILLION OZ/INVENTORY RESTS AT 324.205 MILLION OZ/

MAY 2/WITH SILVER UP 24 CENTS/A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF 6.082 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 322.981 MILLION OZ/

MAY 1/WITH SILVER DOWN 24 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 30/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 27/WITH SILVER DOWN 5 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 26/WITH SILVER DOWN 2 CENT/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316,899 MILLION OZ/

APRIL 25./WITH SILVER DOWN 18 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 24./WITH SILVER UP 8 CENTS/SOMETHING SPOOKED OUR CROOKS TO ADD SOME PAPER SILVER: A DEPOSIT OF 1.601 MILLION OZ/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 23.2018/WITH SILVER DOWN 50 CENTS, ANOTHER HUGE WITHDRAWAL FROM THE SLV INVENTORY: A WITHDRAWAL OF 1.413 MILLION OZ/INVENTORY RESTS AT 315.298 MILLION OZ.

APRIL 20/WITH SILVER DOWN 11 CENTS: ANOTHER HUGE CHANGE IN SILVER INVENTORY: A WITHDRAWAL OF 1.13 MILLION OZ//SLV RESTS TONIGHT AT 316.711 MILLION OZ/

APRIL 19/WITH SILVER UP 3 CENTS TODAY: WE HAD A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.355 MILLION OZ/ MAKES ABSOLUTELY NO SENSE!!/INVENTORY RESTS AT 317.841 MILLION OZ

APRIL 18/WITH SILVER UP 44 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ

APRIL 17/WITH SILVER UP 10 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ

April 16/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 13/WITH SILVER UP 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ.

April 12/WITH SILVER DOWN 27 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 11/2018/WITH SILVER UP 16 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

MAY 16/2018:
Inventory 321.474 million oz

end

6 Month MM GOFO 2.06/ and libor 6 month duration 2.49

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

G0FO+ 2.06%

libor 2.49 FOR 6 MONTHS/

GOLD LENDING RATE: .43%

XXXXXXXX

12 Month MM GOFO
+ 2.75%

LIBOR FOR 12 MONTH DURATION: 2.53

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE = +.22

end
Major gold/silver trading /commentaries for WEDNESDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER
Oil Price Is Going To Keep Rising And Inflation Is Coming

16, May

by Dominic Frisby, Money Week

2018 has been a noisy year so far: stocks have been up, then down, then up, but ultimately gone nowhere.

Precious metals are a little lower than where they started. Bonds are quite a bit lower. Crypto currencies are a lot lower.

Oil supply and demand chart (Money Week)

There’s been babble and squawk about all of them.

But one normally clamorous asset has quietly ground upwards.

And that asset is oil.

The stealth bull market in oil continues
Back in early 2016 I called oil my “trade of the lustrum” (a lustrum is a five-year period – it’s an almost criminally underused word). With West Texas Intermediate oil (WTIC) at $33 a barrel, and Brent crude oil at $36, we said “buy, hold and forget”.

The wager has been a good one. With the usual wobbles along the way, oil has steadily ground higher so that now, two years on, WTIC stands at $71 and Brent at $79.

On revisiting the trade along the way, we’ve noted that this is a stealth bull market, and stealth bull markets are the best kind of bull markets, because few people are talking about them.

But this is the bottom line: it’s a bull market. Bull markets are to be involved in, not stared at. You want to have some oil exposure in your portfolio. It’s that simple.

Previous oil bull markets have been accompanied by powerful narratives: the explosion of the Asian middle class – especially in China – means huge demand. A dearth of new discoveries in readily-accessible locations means the end of cheap oil. Oil production has peaked; it declines from here. We are past Peak Oil.

Instead we’ve seen technological advances which have seen the US become the world’s largest oil producer. Production is no longer such an issue, apparently. New battery technologies and electric cars have been the hot topics. And as for the Asian middle classes and their new-found wealth – they appear to have disappeared, for all you read about them.

Of course, the Asian middle classes have not disappeared. They are now richer than they were during the bull market of the 2000s. There are many more of them. And, despite what you may hear about the vehicles of the future, the vehicles of the present run on oil.

Supply may have increased, but so has demand. Demand is growing all the time and it exceeds supply, as this chart from the International Energy Agency (IEA) shows.

There will be wobbles along the way; there always are. Indeed, measures of momentum such as RSI (relative strength index) and MACD (moving average convergence/divergence) both show oil to be overbought and due a pullback.

But this is a trend, my friends, and my trade-of-the-lustrum advice remains in play: buy, hold, forget.

Oil bull markets end with a great deal of noise. This one has not got noisy yet.

I should say it’s all the more impressive in 2018 for the fact that the oil price has quietly carried on rising, even as the US dollar has strengthened.

By the way, the fact that Treasury bond yields have been rising in the US at the same time as oil makes the macro theory that the financial backdrop has changed from one of deflation to one of inflation all the more credible.

More and more, the theme of inflation seems to be making itself present in our lives once again.

Full Money Morning article including the best way to play rising oil prices here

News and Commentary

Gold crawls up on safe-haven support; dollar limits gains (Reuters.com)

Asian Stocks Decline With U.S. Yield Around 3% (Bloomberg.com)

Dow aims for 8-day win streak as trade worries fade (MarketWatch.com)

U.S. Stocks Mixed as Treasuries Slip, Oil Gains: Markets Wrap (Bloomberg.com)

Eisman of ‘The Big Short’ Fame Recommends Shorting Deutsche Bank (Bloomberg.com)



Gold Price Manipulation Best Summary – James Rickards (Gata.org)

Credit-Driven Train Crash (GoldSeek.com)

A Crypto Tycoon, Banking Heir and the Mysterious Fight for Gold (Bloomberg.com)

The property market is about to be swept up in a whirlwind (Telegraph.co.uk)

Keep buying gold as long as it’s above this key level (CNBC.com)

Listen on SoundCloud , Blubrry & iTunes. Watch on YouTube below

Gold Prices (LBMA AM)

14 May: USD 1,320.70, GBP 972.30 & EUR 1,101.86 per ounce
11 May: USD 1,324.80, GBP 978.23 & EUR 1,110.45 per ounce
10 May: USD 1,314.80, GBP 969.27 & EUR 1,106.80 per ounce
09 May: USD 1,306.85, GBP 965.11 & EUR 1,102.07 per ounce
08 May: USD 1,310.05, GBP 969.44 & EUR 1,101.88 per ounce
04 May: USD 1,309.35, GBP 965.78 & EUR 1,094.09 per ounce
03 May: USD 1,313.30, GBP 966.19 & EUR 1,094.64 per ounce

Silver Prices (LBMA)

14 May: USD 16.65, GBP 12.25 & EUR 13.89 per ounce
11 May: USD 16.76, GBP 12.35 & EUR 14.04 per ounce
10 May: USD 16.60, GBP 12.24 & EUR 13.97 per ounce
09 May: USD 16.44, GBP 12.12 & EUR 13.84 per ounce
08 May: USD 16.45, GBP 12.17 & EUR 13.85 per ounce
04 May: USD 16.42, GBP 12.10 & EUR 13.72 per ounce
03 May: USD 16.47, GBP 12.12 & EUR 13.74 per ounce


Recent Market Updates

– EU ‘Nightmare Scenario’ As Popular Anti-Euro and Anti-EU Government Takes Power In Italy
– “Oil price highest in 3 years, gold ready to follow”, by Daniel March
– Gold Mining Supply Globally Looks Set To Decline
– Gold Bullion Demand In Iran May Surge On Trump Sanctions
– “Money Is Gold — and Nothing Else”
– U.K. Home Prices Plunge 3.1% In April – Largest Monthly Drop Since Financial Crisis In 2011
– Weekly Gold Update – Gold In Dollars Lower Despite Poor US Jobs and Other Data
– Own Some Gold and Avoid Overvalued Assets
– Gold Demand Falls In Q1 Despite Robust Central Bank and Investment Demand and Surging Demand In Turkey and Iran
– Smart Money Diversifying Into Gold – One Billionaire Invests Half His Net Worth
– “Blood In The Streets” Of U.S. Gold Bullion Market As Sale Of Gold Coins Collapse
– Most Important Chart Of The Century For Investors?
– Gold Mining Shares Are Speculative Making Gold Bullion A Better Investment

goldcore
END

Andrew Maguire’s Kinesis money which is a “bitcoin” but backed 100% by allocated gold and silver is set to go.

it think it would be a great idea to look at this!

please read at: https://kinesis.money/#/

(Andrew Maguire)
Andrew Maguire
2:57 PM (1 hour ago)
to me

Harvey

Here It is my friend! https://kinesis.money/#/ Please let everyone know.

Let catch up on Monday if you have time. We have billions in the hopper ready to be allocated on the 1st day of trading. The paper market days are over.

Warm regards

Andy
END
Craig Hemke on yesterday’s raid
(courtesy Craig Hemke/GATA)
Craig Hemke at Sprott Money: The gold spec washout begins

Submitted by cpowell on Tue, 2018-05-15 18:32. Section: Daily Dispatches

2:34p ET Tuesday, May 15, 2018

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report, writing today for Sprott Money, says today’s dip in the gold price is a “washout” of speculators by the bullion banks, a predictable development in the long cycle of market manipulation.

According to Hemke, it is also a “fakeout,” and he asks gold investors: “Are you prepared?”

Hemke’s analysis is headlined “The Gold Spec Washout Begins” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/Blog/the-gold-spec-washout-begins-craig-hemk…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx




‘We’re right at peak gold’: All the major deposits have been discovered, declares Goldcorp chairman

‘Are we not looking for it? Are we bad at finding it? Or have we found it all? My answer is we found it all’

Gabriel FriedmanGabriel Friedman

Published on: May 16, 2018 | Last Updated: May 16, 2018 10:23 AM PDT
Annual gold production from mines has been increasing, albeit incrementally, from 2,744 metric tons in 2010 to 3,298 in 2017. Akos Stiller/Bloomberg

Ian Telfer, chairman of Goldcorp Inc., is the latest industry magnate to predict the world has reached “peak gold,” saying that from here on out, mine production will continue to decline because all the major deposits have been discovered.

“If I could give one sentence about the gold mining business … it’s that in my life, gold produced from mines has gone up pretty steadily for 40 years,” said Telfer. “Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down.”

“We’re right at peak gold here,” he added.

Although gold prices sank two per cent to US$1,289.86 per ounce this week, sliding below the psychologically significant US$1,300 mark for the first time this year, Telfer said that day that he remained “bullish” and predicted gold prices would surpass US$1,500 or US$1,600 per ounce before the end of the year.

Telfer made the comments to the Financial Post while waiting to board a flight from Vancouver to Toronto, where on Thursday he will be inducted into the Canadian Business Hall of Fame. In a wide-ranging interview, he discussed his personal career highlights, market trends and company strategy.

“Are we bad at finding it? Or have we found it all? My answer is we found it all,” says Ian Telfer, chairman of Goldcorp Inc. Peter J. Thompson/National PostIn addition to starting Goldcorp, one of the world’s largest gold mining companies, Telfer has racked up numerous other successes in mining during the past few decades. Many people credit him with inventing the financial structure for streaming — the term for making an upfront payment for long term rights to some or all of the revenues from a specific metal extracted from a mine.

The notion raised by Telfer that the world has hit maximum gold production, or peak gold, is gaining popularity. Last September, the chairman of the World Gold Council, Randall Oliphant, made a similar prediction, echoing what some industry leaders have been saying for years.

According to the WGC, which advocates for the gold industry and compiles research, annual gold production from mines has been increasing, albeit incrementally, from 2,744 metric tons in 2010 to 3,298 in 2017. Last year’s production represented less than a one per cent year over year increase from the 3,274 metric tons produced in 2016.

Goldcorp net earnings slip on lower gold output and higher costs
‘Americas has a ton of potential’: Goldcorp’s Todd White at PDAC

Ryan Hanley, an analyst with Laurentian Bank Securities in Toronto, said that it’s hard to say whether the world has reached “peak gold.”

Low gold prices in recent years have curtailed exploration among junior mining companies and the majors, he said.

“We really haven’t seen that much exploration in the past few years,” Hanley said. “It’s hard to say we’re running out of deposits, but it’s starting to look that way.”

At Goldcorp, production has dropped off since 2015 when it produced 3.4 million ounces of gold. It produced 2.8 million in 2016 and 2.5 million last year. Industry peers Barrick Gold Corp. and Newmont Mining Corp. have also experienced declines from their peak production earlier this century.

“They’re shrinking fast,” Telfer said about Barrick, which has predicted its gold production will decline over time. “We’re sort of going sideways. Newmont’s going sideways.”

Telfer raised several possible reasons for why there are fewer discoveries. “Are we not looking for it? Are we bad at finding it? Or have we found it all? My answer is we found it all. At US$1,300 (per ounce of) gold, we found it all. I don’t think there are any more mines out there, or nothing significant. And the exploration records indicate that.”

According to the WGC, around two-thirds of the estimated 190,000 tonnes of gold that existed in the world at the end of 2017 was mined after 1950.

Telfer said that he’s seen research that shows the average grade of new gold deposits — meaning the amount of gold per volume of earth extracted — is declining.

Goldcorp has taken a leading edge on applying some of the techniques used by the oil and gas industry to find new deposits. For instance, it is using IBM’s Watson, which uses machine learning algorithms to analyse its exploration data.

Canadian miners are like cockroaches, man, you can’t kill us

Ian Telfer

Luis Canepari, vice president of technology at Goldcorp, said a large part of the process is about making its geologists more efficient at analyzing their data and it could be “transformational.”

“There’s a lot of art in finding gold, and it’s a lot of experience,” said Canepari. “More than a science, it’s an art to find the orebody.”

He declined to give the total budget for the IBM Watson program but said it was a small percentage of the total drilling budget, “perhaps up to $10 million, but it’s not $50 million.”

Telfer says while such technology is helpful, overall the advances in exploration have been “extremely incremental.”

Still, he said the pressure to find new ore bodies will ultimately help gold miners, arguing a declining supply would translate into price increases. “I’m very bullish on the price of gold.”

But the gold industry has plenty of reason for optimism, says Telfer. Even if a shrinking rate of major discoveries means the industry itself has to shrink and consolidate, it would not spell anything like death for the industry. If anything, he said the gold mining industry is tenacious.

“Canadian miners are like cockroaches, man, you can’t kill us,” said Telfer. “These little companies, they find a way to borrow, lease their assets, buy back equipment, do this, do that, you just can’t kill them. They’re survivors.”

For many in the industry, who share his view about shrinking deposits, the answer is to look in lesser explored regions of the world, including areas that have deterred miners in the past because they are geographically remote, politically unstable or where the governments want large portions of the revenues from a mine.

Telfer said Goldcorp was founded on the premise of staying in the Americas for two reasons: it is easier to manage operations that are confined to three time zones, and it’s a calculation of political risks.

“So far we haven’t deviated from that,” he said, “There’s still opportunities in those parts of the world, but as the commodity becomes scarcer, those are the kinds of decisions you have to make.”

-END-
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Easing Bond Rout Stabilizes Global Markets, But
Surging Dollar Keeps Traders On Edge

Following yesterday’s rate spike-driven market rout, S&P futures have steadied alongside European stocks as global markets stabilized thanks to an easing in the bond selloff, leading to speculation that the worst may be over.



xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx



Gold Loses $1300 As Cartel FORCES $1.75-Billion In PAPER SELLING Over ONE SINGLE MINUTE
May 15, 2018 173 9654

Using the unimpressive April Retail Sales Report as cover, the cartel has gone on an absolutely viscous pre-market attack. Here’s the details…

The April, 2018 Retail Sales Report hit the tape at 8:30 a.m. EST, and the cartel hit the sell button on gold.

Retail sales were unimpressive, with what we already know: Stagflation.

For example, sales at gasoline stations rose a whopping 11% in April.

Don’t think it’s because people all of the sudden had to try the newest Slushie flavor and load up on sunflower seeds & beef jerky.

That’s not why gasoline station sales are surging.

It’s because of diesel and gas prices.

As I’ve been saying for months now, most recently I wrote a feature on it here – get ready for higher gasoline prices.

Well, we don’t have to get ready for them anymore: They’re here.

But we don’t need some phony government statistics to tell us what we already know.

That said, retail sales grew a dismal .3% for April, 2018:

continues.....https://www.silverdoctors.com/gold/gold-news/gold-loses-1300-as-cartel-dumps-1-75-billion-worth-of-paper-gold-in-one-single-minute/

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Option Expiry On Friday

“Pity the nation that raises not its voice,
except to praise conquerors
and acclaim the bully as hero
and aims to rule the world with force and by torture.

Pity the nation — oh, pity the people who allow their rights to erode
and their freedoms to be washed away..”

Lawrence Ferlinghetti, New Poems, City Lights


"Perfection, of a kind, was what he was after,
And the poetry he invented was easy to understand;
He knew human folly like the back of his hand,
And was greatly interested in armies and fleets;
When he laughed, respectable senators burst with laughter,
And when he cried, the little children died in the streets."

W. H. Auden, Epitaph To a Tyrant


"All changed, changed utterly:
A terrible beauty is born."

W. B. Yeats, Easter, 1916


Are we not exceptional?

Are you not entertained?














xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Next Up On The Show

Talking with my friend "Doctor Tomb"

He has over 40 years in the old coin shop business.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Thank You Harvey Honored To Post Your Work Man !
https://www.silverdoctors.com/tag/harvey-organ/
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Thank You Jesse http://jessescrossroadscafe.blogspot.com/
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Thank You Goldseek http://news.goldseek.com/
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

and Thank You All for Being With Us Tonight

MMgys

Wishing You All a Wonderful Day <3

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Dan Fogelberg - The Power of Gold
https://www.youtube.com/watch?v=H69ohsJOliw
Evanescence - Bring Me To Life
https://www.youtube.com/watch?v=i3MKTm-49uI

Dr.Tombs Metals & Old Coin Review



Doctor Thank you for sharing with us on the MMgys love network.

I'm really enjoying your auctions lately, they're great !

I'll be sharing some of your stuff and keeping your name in camouflage Your Dr. Tomb now hahhahhah

So whats up in the world of the metal ?


Oil

Laughing yes, I've seen that


I see oil is around $70 today

Do you know why it's up.

because this administration is selling the oil reserves.

The last administration stock piled the oil reserves for the benefit of the whole country so in case the middle east pulled any shenanigans we would have the reserves.

This administration is selling the reserves for the benefit of a few

Interesting thanks I'll try to link that

Strategic oil reserve would fall by half under budget deal

Bloomberg Published 8:49 am, Friday, February 9, 2018

Crude oil pipelines stand at the U.S. Department of Energy's Bryan Mound Strategic Petroleum Reserve in Freeport, Texas, U.S., on Thursday, June 9, 2016. Congress has mandated that the department sell as much as 18 percent of the Strategic Petroleum Reserve, the world's largest supply of emergency crude oil, from 2018 through 2025 to offset some unrelated government expenses. Photographer: Luke Sharrett/Bloomberg Photo: Luke Sharrett / © 2016 Bloomberg Finance LP

Crude oil pipelines stand at the U.S. Department of Energy's Bryan Mound Strategic Petroleum Reserve in Freeport, Texas, U.S., on Thursday, June 9, 2016. Congress has mandated that the department sell as much ... more

The U.S. is poised to sell half of its emergency oil reserves to help pay its bills, something critics say defies the reason the stockpile was created decades ago as a hedge against supply disruptions......continues...https://www.chron.com/business/energy/article/Strategic-oil-reserve-would-fall-by-half-under-12564630.php
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Well you know I have to ask, Is gold & silver going to go up. What's up with it, Seems a sleep at the wheel to me.

I don't care what the price is

I'm going to buy and sell it no mater what the price is.

Price doesn't phase me a bit.

The only reason we had the bounce back in 2012 was because of everybody running around with their heads cut off yelling gold & silver is going to go up.

We're going to need gold & silver to even buy food they exclaimed.

All internet & media bullshit !!!

So everybody bought and when the price fell they got disinterested.

I see the millennial generation is buying bit coin. That has to be effecting the coin business.

Bitcoin is bullshit too. Ponzi scheme prone and some say a place for the cartel to wash money. All bull shit

Lets say you have bitcoin. Let's get in your car and you take me anywhere to Buy anything right now Let's go

Doctor Tomb Thank you so much for sharing with us tonight.

Looking forward to the next time. Thanks Again Man

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Next up on tonight's show

A Day In A Chart

MMgys

Waylon Jennings - Midnight Rider
https://www.youtube.com/watch?v=eh-pb4FLU7I
(Segment Debut Dr.Tombs Metals & Old Coin review)


Day In A Chart


Tonight's "Day In A Chart" is Brought to You by:

"Jug On"

MMgys

Please Support our Anxiety Relief Sponsors


Thank You


and Now our feature Chart Presentation >>>>>>>>




MMgys

and some "Day In A Chart" days I wear

my suit made of pork chops and swim in the MMgys Shark Tank

Yikes !!!!


En Joy

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Dollar Drops, Yields Pop As Small Caps Squeeze To New Record High



Stocks opened confidently (after for once trading sideways overnight), then slipped into the European close (Italian headlines) before ramping into the last hour when Navarro headlines spooked stocks and bonds...



The post-Navarro weakness in stocks took all but Small Caps back into the red for the week...



Russell 2000 broke to a new record high...



On the back of a major short squeeze once again..



Big Bank stocks were mixed after ramping on the European close (not helped by Italian bank weakness), they slid into the close after Navarro headlines...



Small bank stocks underperformed as Small Caps soared to record highs...



TSLA bonds pushed lower in price once again but the stock managed gains on the back of Soros buying converts in Q1...



Treasury yields traded in a narrow range but the trend was higher...



But 10Y pushed to a new cycle high this afternoon after Navarro headlines...



The long-end of the US Breakevens curve has now inverted...



But all eyes were on Italy where BTP spreads exploded on "Debt Cancellation" talk..



The Dollar ended the day modestly lower, also trading in a very narrow range on the day - and unable to make a higher high...



The Argentine Peso slipped lower again today after yesterday's huge intervention...



Cryptocurrencies were largely flat on the day but Bitcoin Cash slipped lower after its fork...



Commodities all made gains on the day but WTI remain sthe big winner on the week and gold the laggard...



Finally consider that Small Caps are being touted as domestically focused - amid fears of global trade wars etc... - but US domestic economic data is dismal...



zzzzzzzzzzzzzzerozzzzzzzzhedgezzzzzzzzzzzzzzzzerozzzzzzzhedgezzzzz

Your Reading..........

~The Graveyard Shift Mining & Metals Show~

On ~*~Mining & Metals Du Jour~*~

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

America - Sister Golden Hair
https://www.youtube.com/watch?v=3oNULFXLuMc



*Page 5*_Cripple Creek Mining District in Colorado

MMgys

The former mining town of Cripple Creek grew out of nowhere when lode gold deposits were found. Named the Independence Lode, it became one of Colorado’s richest gold strikes, and also the last major gold rush to Colorado.

About 100 years ago, prospective miners flocked in the area in search of gold and silver. Gold was first discovered by Bob Womak in 1890. What started as simple placer discoveries soon led to discovery of rich vein deposits. This prompted the gold rush which was later to become a significant part of the history of the state.

By the start of the 20th century, the town of Cripple Creek was fully established with a railroad passing through and about 500 claimed mining operations. The town had also produced more than 22 million ounces of gold by 1910 with no signs of slowing down.

The year of 1900 was particularly productive with production reaching $18 million dollars in gold and silver.

Like any other mining district, Cripple Creek had its fair share of challenges. For starters, gold was contained in gold-telluride minerals, which was very challenging to extract when compared to normal free-milling type ores. Rather than use the classic stamp milling and amalgamation process used in other mining towns, the companies employed chlorination. This was later replaced by cyanide leaching.

The city suffered two disastrous fires in 1896 that burned down almost half of the town. Both occurred within less than a week and though they didn’t particularly affect the mining operations, most of the business section was destroyed. It took a while to rebuild the town to its original state. Some of the buildings built during that time are still standing to date.

Frequent labor strikes that threatened to stall mining activity became common in later years at Cripple Creek. In 1894, miners went on a five month strike after work days were lengthened from 8 hours to 10 hours. Violence erupted between workers and company-paid militia that consisted of the sheriff’s deputies. To restore order, the governor instituted martial law and dispatched the army to Cripple Creek. It was only when the 8-hour work day was reinstated that workers went back to work.

In 1903, there were labor strikes that ended in dispatch of the National Guard to the area. By the end of the strikes, the Western Federation of miners was driven from Colorado mines altogether.

As time passed, gold on the surface mines was exhausted, prompting even deeper exploration to extract ore. The deeper they got, the worse the drainage was, and pumping methods were not efficient enough to keep water out the shafts. Drainage tunnels were dug to reach major mines. Of these, the Carlton Tunnel was the longest and drained from the Vindicator Mine.


Cripple Creek Mining District was particularly famous for large mines and having produced many millionaires. Independence Mine, discovered by Winfield Scott Stratton in 1901, was later sold for $11 million to Venture Corporation England. Portland Mine closely bordered the Independence Mine and provided jobs to 700 miners at one time. Spencer Penrose’s C.O.D Mine also produced enough to finance building the famous Broadmoor Hotel.

Mining in Cripple Creek began to dwindle at the start of World War II when the government banned mining of no-essential metals.

Cripple Creek remained dormant until the 1970’s when Texasgulf and Golden circle formed Cripple Creek and Victor Mining Company. Open Mining permits at the Cresson Mine were later issued in 1994 and from then, production improved. Ownership of the company has changed significantly with present owner being Anglo Gold Ashanti Corporation.



The Band, Up On Cripple Creek
https://www.youtube.com/watch?v=RDnlU6rPfwY


Tomb Raiders "Gold Teeth & Old Coin" Auction

Freshly dug grave spoils from Doctor Tomb's bi Weekly Auction.

Most reputable coin shops hold auctions. Look for one near you.

Doctor Tombs is one of the oldest coin shop & auction in the country.

76 years

this auction is Not Online

Sharing my seven coin picks now showing on the auction board.

Ok here we go.......First off we have a

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

1990s Silver Eagle

Ultra cameo

Proof 69

Grey sheet Bid Price $50.00

Current Last Bid $35.00

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Bakers Dozen 13

Ancient Roman Coins

In small unopened bag

Great Research Group (Meaning nobody has listed the different emperors per coin)

Opening Bid price $30.00

Current Last Bid none yet

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

All eyes on this one.....

Silver Denarius

42 BC. L. Livineus

Very Good VG

Listed price $200.00 VF

Sear#478/2 (cat. number)

Opening bid price $40.00

Current last bid $40

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

1879s Morgan Dollar

Gem UNC (uncirculated)

MS64

$60.00 grey sheet

Opening Bid Price $40.00

Current Last Bid $50.00

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

251-253 AD. Trebuninus Gallus

Opening Bid Price $15.00

Current Last Bid none yet

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

1874 Seated Liberty 50 cent

Opening Bid Price $32.00

Current Last Bid $33.00

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

1951 D Washington Quarter

Opening Bid Price $3.00

Current Last Bid $3.50

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Manilla Money Horn

3feetX4" cylinder copper with Bronze handle

( Looks like something you would carry a fire in)Ugly

, Manillas serve as money and decorative objects before they had currency in Africa

Opening Bid on Hold until day of auction

Ref https://en.wikipedia.org/wiki/Manilla_(money)

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

One of many catalog search sites

Coin Explorer Search

https://www.ngccoin.com/coin-explorer/

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

You Can

Catch "Doctor Tombs Metals & Coin review" segment in the next MMGYS show

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

(Segment Debut)


Pics Of The Day

Picture to Burn>>>>>>Pics Of The Day<<<<<<

MMgys

Well,Hope You Have EnJoyed The Show
























































Thank You for being with us tonight

Taylor Swift - Picture To Burn
https://www.youtube.com/watch?v=yCMqcFAigRg