“This Is Going To Be WILD! – China Is Attacking COMEX Silver!” –
Harvey Organ
Posted on May 14, 2017 by The Doc
This is going to be wild to you!! There are no other words to describe the data! This has never happened during an active silver delivery month. Ladies and gentlemen: the silver Comex is being attacked for its physical metal and the attacker is Sovereign China.
The gold open interest rose by a tiny 1636 contracts despite the good rise in the metal on Friday ($3.80) and the healthy gain in our gold/silver equity shares. However this is a preliminary number and in gold we lose around 3 to 4 thousand contracts so when the dust settles on Monday, the final OI number will be in reality down 2,000 or so. Buy Silver Bullion at the Best Prices Online! in the front month we had a loss of only 1 contract. We had 8 notices served upon on Friday so we again gained 7 contracts or an additional 700 oz will stand and no EFP’s issued. the front June contract month lost only 3857 contracts and it stands at 214,866. If you compare last yr at this exact moment 330,125 contracts were still open. I have a sneaky feeling that a lot of these open June 2017 contracts will stand ready to receive metal like they are doing in silver speaking of silver, the data is absolutely flabbergasting. The total open interest rose by a whopping 7462 contracts up to 214,229. We will probably lose around 800 – 1200 contracts so expect the final number to be around 213,000 The front month of May saw its OI fall by 109 contracts but we had 131 notices filed upon so we again gained 22 contracts or 110,000 additional oz will stand. This is the 11th straight trading day for an increase in amt standing and it started on day 2 right after first day notice. This is totally unprecedented and it has never occurred happened at the comex since inception until now!! we now have 22,560,000 oz standing. As you can visualize the contracts that are standing must have deep pockets to withstand the torment over the past two weeks. Many of the comex longs no doubt belong to a sovereign as these contracts are held in proxy by our bankers who know the truth behind what is going on. China who no doubt lent silver to the uSA in 2003 as a loan wants their metal back as it is needed at the Shanghai silver exchange. (By the way, record number of gold physical deliveries have occurred at the Shanghai gold exchange these past 4 months) well here is your data and I will be open to any comments. I will be writing on Monday but probably only the comex data..as I will be out of the loop for most of the day. Have a great weekend…
your data: For comex gold: MAY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 10 NOTICE(S) FOR 1000 OZ.
TOTAL NOTICES SO FAR: 483 FOR 48300 OZ (1.5023 TONNES)
For silver: For silver: MAY
22 NOTICES FILED TODAY FOR 110,000 OZ/
Total number of notices filed so far this month: 4439 for 22,195,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Let us head over to the comex:
The total gold comex open interest ROSE BY A SMALLISH 1,636 CONTRACTS UP to an OI level of 436,108 WITH THE RISE IN THE PRICE OF GOLD ( $3.80 with YESTERDAY’S trading). We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A LOSS OF 1 contract(s) LOWERING TO 41. We had 8 notices filed yesterday so we GAINED 7 contracts or an additional 700 oz are standing for delivery and no contracts were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI LOST 3,857 contracts DOWN to 214,866. The non active July contract GAINED another 216 contracts to stand at 684 contracts. The next big active month is August and here the OI gained 3,894 contracts up to 123,216.
To give you a good idea of the devastation of open interest contracts, last year on May 16 2016 we had at this exact time: 330,125 contracts of JUNE 2016 CONTRACTS OPEN.( compared to JUNE 2017: 214,866)
We had 10 notice(s) filed upon today for 1000 oz 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 (483) x 100 oz or 48300 oz, to which we add the difference between the open interest for the front month of MAY (41 contracts) minus the number of notices served upon today (10) x 100 oz per contract equals 51,400 oz, the number of ounces standing in this active month of MAY.
Thus the INITIAL standings for gold for the MAY contract month: No of notices served so far (483) x 100 oz or ounces + {(41)OI for the front month minus the number of notices served upon today (10) x 100 oz which equals 51,400 oz standing in this non active delivery month of MAY (1.5980 tonnes). We gained 10 contracts or an additional 1000 oz are standing for delivery and 0 contracts were cash settled through the EFP route where they received a fiat bonus plus a futures contract in a private deal with the bankers.
I have now gone over all of the final deliveries for this year and it is startling.
Here are the final deliveries for all of 2016 and the first 5 months of 2017 Jan 2016: .5349 tonnes (Jan is a non delivery month) Feb 2016: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low) March 2016: 2.311 tonnes (March is a non delivery month) April: 12.3917 tonnes (April is a delivery month/levels on the low side And then something happens and from May forward deliveries boom! May; 6.889 tonnes (May is a non delivery month) June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge) July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!) August: 44.358 tonnes (August is a good delivery month and it came to fruition) Sept: 8.4167 tonnes (Sept is a non delivery month) Oct; 30.407 tonnes Nov. 8.3950 tonnes. DEC/2016. 29.931 tonnes JAN/2017 3.9004 tonnes FEB/ 18.734 tonnes March: 0.5816 tonnes April/2017: 2.8678 MAY:2017/ 1.5980 TONNES
total for the 17 months; 249.5110 tonnes average 14.677 tonnes per month AND NOW FOR SILVER And now for the wild silver comex results. Total silver OI ROSE BY A HUGE 7,462 contracts FROM 206,767 UP TO 214,229 WITH FRIDAY’S 21 CENT PRICE GAIN. It seems that the EFP’s calls are now being exercised for July contracts and thus the reason for the huge OI gain in the silver complex.
We now know for certainty that private EFP contracts are given by the bankers when faced with an upcoming active delivery month. We just do not know the makeup of that private deal. It is my contention that the longs in silver at the end of April were given a fiat bonus plus a long “in the money” call for a future May contract or a July contract. They were told not to exercise for a new contract until at least the first week of May is over so it would not look like a paper settlement which in reality it surely is. So now everything makes sense: the obliteration of OI as we enter first day notice has not really occurred but replaced with a future contract with some bonus money for their effort. No doubt by the end of May, the open interest in the silver contract month will be close to the OI we had around mid April/2017. The total number of notices filed today for the MAY. contract month is represented by 22 contract(s) for 110,000 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 4439 x 5,000 oz = 22,195,000 oz to which we add the difference between the open interest for the front month of MAY (95) and the number of notices served upon today (22) x 5000 oz equals the number of ounces standing
.
Thus the initial standings for silver for the MAY contract month: 4439(notices served so far)x 5000 oz + OI for front month of APRIL.(95 ) -number of notices served upon today (22)x 5000 oz equals 22,560,000 oz of silver standing for the MAY contract month.
We actually gained another 22 contracts or an additional 110,000 oz will stand for delivery and again nobody wished to accept an EFP contract for a fiat bonus. It probably means that the entire 22.56 million oz that are standing wants only physical metal and refuses a fiat bonus. This is identical to backwardation where the investor will not accept to roll to a futures month and receive a sure fiat profit (THROUGH THE EFP) but instead that investor holds onto his physical because he is not sure in the future he would receive his metal back if he engages in that future contract. We have now had on 11 trading consecutive days, an increase in amount standing for silver. For the past several years, this has never happened during an active silver delivery month. Ladies and gentlemen: the silver comex is being attacked for its physical metal and the attacker is Sovereign China.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Thank You Harvey & Doc GATA and All Always Good Stuff ! xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
TF Metals Report interviews GATA chairman about market rigging Submitted by cpowell on Fri, 2017-05-12 14:27. Section: Daily Dispatches
10:27a ET Friday, May 12, 2017
Dear Friend of GATA and Gold:
The TF Metals Report this week interviewed GATA Chairman Bill Murphy, discussing, among other things, the latest smashing of monetary metals futures prices on the New York Commodities Exchange, the depression in the monetary metals mining sector, whether there is any limit to the suppression of monetary metals prices, and whether the anti-trust litigation against the big investment banks that have been accused of rigging silver prices will have any effect. The interview is 44 minutes long and can be heard at the TF Metals Report here:
State Dept. memo explains U.S. policy to drive gold out of financial system Submitted by cpowell on Sat, 2017-05-13 14:13. Section: Documentation
10:33a ET Saturday, May 13, 2017
Dear Friend of GATA and Gold:
A long memorandum written in March 1974 by a U.S. State Department official for Secretary of State Henry Kissinger and copied to future Federal Reserve Chairman Paul Volcker, then the Treasury Department's undersecretary for monetary affairs, describes the desire of the United States and its options to prevent European countries from increasing the use of gold in the international financial system.
The memo, titled "Gold and the Monetary System: Potential U.S.-E.C. Conflict," was recently discovered in the State Department archive by GoldMoney Vice President John Butler and brought to GATA's attention this week by GoldMoney research chief Alasdair Macleod. It emphasizes the longstanding U.S. government policy of subverting gold as a reserve currency in favor of the Special Drawing Rights issued by the International Monetary Fund, an agency then and now largely controlled by the United States.
The memo's author, Sidney Weintraub, deputy assistant secretary of state for international finance and development, wrote:
"To encourage and facilitate the eventual demonetization of gold, our position is to keep the present gold price, maintain the present Bretton Woods agreement ban against official gold purchases at above the official price, and encourage the gradual disposition of monetary gold through sales in the private market.
"An alternative route to demonetization could involve a substitution of SDRs for gold with the IMF, with the latter selling the gold gradually on the private market, and allocating the profits on such sales either to the original gold holders or by other agreement."
Weintraub copied his memo to Volcker just a month before Secretary Kissinger met with his assistant undersecretary of state for economic and business affairs, Thomas O. Enders, to hear a similar argument. Whichever nation or group of nations controls the most gold, Enders explained to Kissinger, can control the currency markets by changing gold's value periodically. Thus, Enders said, replacing gold as an international reserve with SDRs was in the interest of the United States.
GATA often has called attention to a transcript of Kissinger's conversation with Enders, which remains in the State Department's archives:
As GATA always pleads, if vainly, none of this stuff is mere "conspiracy theory." It is extensively documented U.S. government policy based on the most obvious national interest that endures to the present, even if it can't be discussed in polite company, in financial journalism, or even in the monetary metals mining industry, whose crippling it ensures.
Control of the currency markets long has been and remains the primary mechanism of imperialism.
Weintraub's memo is posted at the State Department archive here --
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