Replies to post #37760 on ~*~Mining and Metals Du Jour~*~

[Giovanni]

I am certainly elated to hear from you.

You made my day.

I will toast you today at 4 PM est.

I am going to open a cherished bottle of Machete.

https://craftcurd.com/products/orin-swift-machete-red-wine-2015?utm_medium=cpc&utm_source=google&utm_campaign=Google%20Shopping&gclid=Cj0KCQjwov3nBRDFARIsANgsdoEorgDAr_RDubiGkAsCNN1_vAPt_ifhVNvQ1VmttoBa-O-pWzQXbmIaAiTPEALw_wcB&variant=189836460055

My friend and scuba diving partner for 30 years was Nick Gage's
personal chef.

Nick went BK. He gave his chef a a few cases:O)

Nick's salary went from 60 million for 2 movies yearly to 10 to 30

For god knows how many movies.

Nick is living in a rented house and his wife was turned down to lease a Chevy Truck... the golden years.

Live your golden years 40 thru 65.

Kind Regards

Gio

[eik]

Hi Cork. It's a pleasure to see you posting again! Welcome back and hope you feel better every day.
Talking about "Mining and Metals"... Do you still own Hecla? The company keeps disappointing investors, and silver price doesn't want to cooperate. :-(

[JD400]

9 and 3 Lost Washington State Treasure Tales

MMGYS*Lost treasure by state series

So many Legendary bands have came out from Washington State, the Wilson Sisters/Heart just the tip of the iceberg

Hope your enJoying the show tonight

Great to have you with us <3

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Washington State Treasures Just Waiting to Be Found


Asotin County – Situated in the southeastern most corner of Washington in a remote mountainous area, is the ghost town of Rogersburg, with less than 25 residents today. A river boomtown stimulated by gold discoveries, the town was once accessible only by horse or by boat. In fact, it wasn’t until 1938, that a road from Asotin finally reached the small village. On or near Shovel Creek, off the Snake River, is thought to be the lost Shovel Creek Mine. Also near Rogersburg is said to be the Trio Lost Mine, as well as a hidden cache left by a long ago prospector. Yet another cache is said have been buried near Rogersburg by outlaw Charley Maguire after he robbed a stagecoach.



Bloom County – Located in the heart of Puget Sound is Vashon Island where a successful lumberman by the name of Lars Hanson lived in the 1870’s. On the banks of Judd Creek, near Burton, he was said to have hidden more than $200,00 in gold coins.

Clark County – For more than a century, rumors have abounded that there is a rich mine hidden in the Cascade Mountains. Said to have been located near the headwaters of the Lewis River somewhere in the wilderness between Mt. St. Helens and Mt. Adams, the mine was worked by an old Spaniard in the 1880’s. The miner often journeyed south to The Dalles, Oregon, to bank his gold at the French & Company Bank. On a number of occasions, other prospectors would attempt to follow him as he returned to the mine, but the old Spaniard was clever and always eluded them, using a number of tricks including putting the shoes on his mule backwards. Suddenly the old Spaniard stopped appearing to bank his gold and local miners began to wonder what had happened to him. About a year later, numerous Yakama Indians began showing in a number of stores in Washington, paying for goods with gold nuggets. When asked where they had obtained the gold, the Indians refused to answer. Soon, rumors began to circulate that the Indians had found the Spaniard’s mine. Later, a skeleton of a man and a mule was discovered near Spirit Lake by Mt. St. Helens. It was thought to have been the old Spaniard who had been killed by the Indians. The mine, that some say is hidden behind a waterfall in a cavern, has never been found.

Grant County – Outlaws are said to have buried some $30,000 in gold in a cave somewhere on Sentinel Mountain in the Saddle Mountain Range, about three miles southeast of Beverly.

Pacific County – Captain James Scarborough was the first white settler north of the Columbia River and built a frontier cabin in 1843. Allegedly, he buried a treasure near his cabin on what is now Fort Columbia. If a treasure is buried there, it will have to stay hidden, as the historic fort is now a Washington State Park.

Stevens County – The Lost Doukhober Mine, discovered in 1929, is said to be located in the northern part of Stevens County. Ore from this mine assayed at 1,000 oz of silver per ton. Another lost cache is said to be buried at Robbers’ Roost near Fruitland.



Stevens County – Located near the town of Colville, a treasure known as The Highgrader’s Poor Farm treasure is said to be hidden. Poor Farm treasure refers to “Matte” – a crude mixture of sulphides produced when smelting gold. It is thought to be buried near an old brickyard.

Walla Walla County – According to the tales, bandits took a number of gold bars in a train robbery near Wallula in the late 19th century.

Intending to catch a boat for Portland, they missed it and buried their stolen cache near old Fort Walla Walla. Later the bandits were shot before ever telling of the hiding place of the loot. Today, the old fort is gone and the location has become Fort Walla Walla Park located at the western edge of Walla Walla, Washington.

Yakima County – Pierre Rabado’s Lost Mine is thought to be located near Mt. Adams. It could also be in Skamania County.

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An Anchor in Bellingham Bay

George Vancouver


Between the years of 1791 and 1794, Captain George Vancouver, a British Officer, commanded the HMS Discovery and its accompanying ships on an exploratory voyage of the Pacific Northwest. While surveying the northern Pacific Ocean, he and his crew were the first to record the sighting of Mount St. Helens and the first to explore Puget Sound. Following the coasts of Oregon and Washington and intending to explore every bay and outlet of the region, he sent men in smaller boats to explore the Columbia River and enter the strait of Juan de Fuca.

While the smaller vessels explored the many channels and rivers along the coast, the larger ships, including the Armed Tender of the HMS Discovery, called the Chatham, often anchored in safe harbors. On April 29, 1792, the ships entered the Straits of Juan de Fuca and anchored in the calm waters of Discovery Bay. Utilizing the bay as a base, Vancouver and his men explored the waters of Admiralty Inlet and Hood Canal.

After several weeks, the Chatham began to sail north across the Straits of Juan de Fuca to explore the San Juan and Lopez Islands. After successfully doing so, the Chatham sailed southward in May to rejoin the HMS Discovery and continue their explorations south.

HMS Discovery


The explorations continued as far as Commencement Bay in Tacoma, before turning around and returning north, where the waters were safer. Arriving at Puget Sound, they found a storm raging with severe currents and tides. Crossing an unknown channel, the Chatham was caught by a flood tide and swept helpless. To slow her progress, her stream anchor was dropped but the strain was too much and the cable snapped. However, the Chatham survived and after sweeping the waters unsuccessfully for the anchor, the ship rejoined the HMS Discovery.

Vancouver would write in his journal on June 9, 1792:

“We found tides here extremely rapid, and on the 9th in endeavoring to get around a point to the Bellingham Bay we were swept leeward of it with great impetuosity. We let go the anchor in 20 fathoms but in bringing it up such was the force of the tide that we parted the cable. At slack water we swept for the anchor but could not get it. After several fruitless attempts, we were at last obliged to leave it.”

For treasure hunting divers, the anchor would be a great find..and indeed it was. In 2008, Anchor Ventures, LLC of Seattle decided that instead of searching the Channel, they would search off Whidbey Island’s northwestern shore. Their bet that the Chatham wasn’t with the Discovery at the time of the storm paid off. Anchor Ventures pulled up what they believe to be the long lost anchor. It was finally pulled up in 2014, and the team has been trying to prove its identity since. Skeptics say not so fast, this anchor is heavier than those of the late 1700’s.

Is the anchor still there? The search continues for the doubters of the 2008 find.


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MMGYS

Washington State Kurt Cobain is legend,

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John Tornow – The Wild Man of the Wynoochee, Washington


Satsop River, Washington


Coming from a respected family that homesteaded near the Satsop River, John Tornow was born on September 4, 1880. From the time he was just a small child, he preferred the unexplored wilderness near his home as his playground. As he grew, he spent more time with wild animals than he did with people.

When the boy was just ten years old his brother Ed killed his beloved dog and young John retaliated by killing Ed’s own dog. It was at this time that Tornow began to shun people altogether, vanishing into the woods for weeks at a time.

Hunting only for food, he learned to track as well as any Indian and his shooting skills quickly became legendary. He would return to his home only for brief visits with his parents, usually bearing gifts of game. By the time he reached his teen years, almost any animal would approach him unafraid, and his family had begun to think he was just a little bit crazy.

As his brothers entered the logging business, eventually owning their own company, Tornow occasionally worked as a logger, but more often continued to maintain his solitary ways in the wilderness. Living off the land, dressing in animal skins and shoes made of bark, John just wanted to be left alone with nature. Standing some 6”4” and weighing in at nearly 250 pounds, most people thought him a little strange, but harmless.

By the first decade of the 20th century, he was rarely venturing out of the woods but would occasionally watch the loggers as they were working. On one occasion he supposedly said to a logger, “I’ll kill anyone who comes after me. These are my woods.”

Convinced he was insane, his brothers captured him and committed him to a sanitarium in 1909. However, the facility, located deep in the heart of Oregon’s wilderness, was not able to contain the large man, as some 12 months later, he escaped into the forest.


Wynoochee Valley, Washington


Nothing was seen or heard of John for the next year until he began to occasionally visit his sister, her husband, and their twin sons, John and Will Bauer. He refused to have anything to do with his brothers, never having forgiven them for committing him to the sanitarium.

Spied occasionally with tangled hair, a long beard, and ragged clothes, his legend began to grow as people described him as a giant gorilla-like man seen running through the forest. Loggers would tell that he appeared to be a large hairy “beast” that would seemingly appear out of nowhere before once again vanishing into the forest.

In September 1911, Tornow shot and killed a cow grazing in a clearing by his sister’s small two-room cabin on the Olympic Peninsula. While he was dressing out his kill, a bullet whizzed over his head and dropping his knife, he lifted his rifle and fired three times in the direction from where the bullet had originated. When he went into the brush, he found his two 19-year-old twin nephews lying dead on the ground.

As to why John and Will Bauer shot at Tornow, it was suggested that the pair thought he was a bear feeding off of one of their herd. However, some historians believe that the boys intentionally made John Tornow their target. Though the truth will always remain a mystery, the mountain man, no doubt reasoned that someone was trying to capture or kill him when he returned fire. After seeing the dead bodies, Tornow quickly fled the scene disappearing into the deeply forested Wynoochee Valley. This incident would become the beginning of a legend that would grow large over the next several years and ultimately result in the death of the solitary mountain man.


William and John Bauer


When the Bauer boys did not return from home, their family contacted Chehalis County (Chehalis County would become Grays Harbor County in 1915) Deputy Sheriff John McKenzie. Soon, the deputy rounded up a group of more than 50 men to search for the brothers, who soon returned with the two dead bodies. Both had been shot in the head and stripped of their weapons.

McKenzie immediately announced that the shooting had to have been committed by John Tornow and a posse was rounded up to search for the wild man living in the forest. In no time, loggers and farmers making up the posse were roaming the Satsop area and the lower regions of the Wynoochee Valley, wary of the large man that they knew to have the intuition of an animal and the skills of an Indian.

The posse was skittish, terrified of the wild man, and when one group heard a sound in the brush, a shot rang out, killing a cow. Though the men were sure that Tornow was nearby each time they heard the slightest noise in the woods, they never spotted him.

The longer they searched and didn’t find the “ape-man” killer, the tales grew more and more exaggerated. Soon, the stories told of a cold-eyed giant constantly traversing the forest in search of prey, who soon earned such labels as “the Wild Man of the Wynoochee,” “the Cougar Man,” and “a Mad Daniel Boone.” With each telling, the story became larger and larger until the entire countryside was terrified. As the stories spread to the adjacent camps of Aberdeen, Montesano, Elma, and Hoquiam, no one felt safe with John Tornow on the prowl. Women and children were warned to stay indoors as the men oiled their hunting rifles and unleashed their dogs for protection.

As men continued to search into the winter they were forced into the lowlands due to deep snows. Tornow simply headed to higher terrain. Sometime later, the wild man broke into Jackson’s Country Grocery Store intending to help himself to a few provisions. Often he was known to burglarize cabins and stores in order to get what he needed to survive. However, on this occasion, he found more than just flour, salt, and matches, but also a strongbox filled with some $15,000. The grocery also served as the town’s bank.

In no time, Chehalis county offered a $1,000 reward for the return of the stolen money and despite their fears of the “wild man,” the number of men hunting Tornow dramatically increased. The blasts of gunfire could be heard echoing in the forest and on February 20, 1912, a gunshot-happy hunter killed a 17-year-old boy, mistaking him for Tornow.


The dense area where Tornow made his home is now part of the Olympic National Forest,


A few weeks later, a traveling prospector reported to Sheriff McKenzie that he had spotted Tornow at a camp in Oxbow. Together with Deputy Game Warden Albert V. Elmer, the pair headed out but found only a cold campfire at the point where Tornow had been spied. Sure that the money was buried somewhere close, the two began to look around. Though they were rewarded with two gold coins, they didn’t find the strongbox.

Sometime later both Sheriff McKenzie and Warden Elmer went missing and the reward was increased to $2,000. On March 16th, Deputy Sheriff A. L. Fitzgerald gathered up another posse to hunt for the “ape-man” in both Oxbow and Chehalis counties. Though they searched high and low for Tornow, what they found instead, were the bodies of Sheriff McKenzie and Albert Elmer. Both had been shot between the eyes and gutted with a knife.


Though the searches continued and Tornow was spied here and there, the mountain man continued to elude capture. A month later on April 16th, Deputy Giles Quimby, along with two other men by the names of Louis Blair and Charlie Lathrop, came upon a small shack made of bark. Sure that the crude cabin belonged to Tornow, Quimby wanted to head back for a posse, but the other two balked at having to share the bounty.

So, with guns ready, they approached the shack when a shot rang out, hitting Blair who fell into the nearby bushes. Lathrop returned fire but was immediately hit in the neck killing him instantly. Quimby, left alone with the marksman, desperately tried to negotiate with Tornow, telling him that all he wanted was the strongbox and promising to let the wanted man go free.

From his hiding place Tornow shouted, “It’s buried!”


Quimby continued to assert that he wanted nothing but the return of the money and would then leave John alone. Though Tornow was hesitant, not sure that Quimby would keep his word, the deputy assured him that he would let him go.


Deputy Giles Quimby



Finally, Tornow answered the deputy by stating, “It’s buried in Oxbow, by the boulder that look’s like a fish’s fin. Take it and leave me alone!”

Having retrieved the information from Tornow, Quimby didn’t keep his word, opening fire upon the foliage where John was hiding. Though no return shots were fired, Quimby wasn’t sure if he had hit the man or if Tornow might be just “playing dead.” Stealthily, Quimby scurried away through the woods.

When Quimby returned to Montesano, Sheriff Matthews gathered up another posse and the men began the trek back to the spot where Quimby had fired on Tornow. After cautiously approaching the trees, Tornow was found dead leaning against a tree. The men found $6.65 in silver coins on his body, identifying some of them as those taken from Jackson’s Grocery store.

Before Tornow’s body was even returned to Montesano, word had already reached the town that the “wild man” had been killed and curious gawkers began lining the street in order to get a peek at the legendary mountain man.

Deputy Sheriff Giles Quimby told newspaper reporters that John Tornow had “the most horrible face I ever saw. The shaggy beard and long hair, out of which gleamed two shining, murderous eyes, haunts me now. I could only see his face as he uncovered himself to fire a shot, and all the hatred that could fire the soul of a human being was evident.”

This further fueled the curiosity seekers’ desire to see the wildman’s face. In response, his brother Fred, who had traveled up from Portland, tried to prevent the body’s public display. However, when some 250 gawkers stormed the tiny morgue demanding to see the body, the overwhelmed coroner allowed them inside. Before it was said and done, the crowd required dozens of deputy sheriffs to prevent the nearly 700 citizens from tearing off bits of the dead man’s clothing and removing locks of his hair.

Fearing that those who were unable to view the body at the morgue would appear at the funeral, his service was held at the family’s old homestead. Immediately, postcards were printed that featured a photo of Tornow along with numerous newspaper articles with screaming headlines calling Tornow “The Great Outlaw of Western Washington.”

Of his brother’s death, Fred Tornow would, when questioned by the press, say: “I am glad John is dead. It was the best way now that it is over, and I would rather see him killed outright than linger in a prison cell.”
Customary in the days of the early 20th century, photos were taken of the dead. This photograph of John Tornow's corpse appeared on postcards the very day of his funeral.

Customary in the days of the early 20th century, photos were taken of the dead. This photograph of John Tornow’s corpse appeared on postcards the very day of his funeral.

The Oregonian newspaper noted that at the time of Tornow’s death he had $1,700 on deposit in a Montesano bank, owned real estate in Aberdeen, and was a part owner of a timber claim in Chehalis. Giles Quimby was proclaimed a hero for finally killing the feared “Wild Man of the Wynoochee,” so much so that he received offers to appear on stage to tell of his gruesome tale. Quimby politely turned down these offers.

When the furor of Tornow’s death had settled, Quimby went looking for the boulder that looked like a fish’s fin and was delighted when he found it. However, his happiness was short-lived, as search as he might, he never found the strongbox. Numerous other men followed in his footsteps, looking all over Oxbow, Washington, but the $15,000 treasure was never found.

The money is thought to be buried on the Wynoochee River where it turns into a large, horseshoe-shaped creek. However, a dam has since been built upstream, which may have caused a change in the river’s flow. Tornow said that he buried the cache near a fin-like rock. The hiding place is within the Olympic National Forest, which requires permission to hunt.

Tornow was buried in Matlock Cemetery in Grays Harbor, Washington, where his tombstone stands today.



Customary in the days of the early 20th century, photos were taken of the dead. This photograph of John Tornow’s corpse appeared on postcards the very day of his funeral.

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MMGYS*

Jimi Hendrix Legend from Washington state

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Victor Smith and a Tale of Three Lost Treasures

Port Townsend Customs House


In 1861, President Abraham Lincoln appointed a man named Victor Smith, a newspaper editor from Cincinnati, Ohio, as Collector of Customs for the District of Puget Sound, Washington. However, when Smith arrived, he immediately took a dislike to Port Townsend, thinking it no more than a city of “huts” populated by uncouth Westerners.

An ambitious man, Smith began to promote moving the Customs House from Port Townsend to Port Angeles. With the nation in the midst of the Civil War, he further supported his plan by advocating the idea that the British intended to join forces with the Confederates and the existing Port of Entry could be easily invaded from the British naval base on Vancouver Island in British Columbia.

In anticipation of the move, Smith, along with four other men, acquired land in Port Angeles and formed a Townsite Company to develop the new community. The townsfolk of Port Townsend soon learned of Smith’s plan, which of course, created feelings of hostility in the burgeoning community of Port Townsend.

When Smith’s letters to the Treasury Department failed to get immediate results, Smith traveled to Washington D.C. to promote his plan to fortify Port Angeles and relocate the Customs House there. Promoting Port Angeles’ superior location because it was nearer the ocean, he convinced Congress to move the Customs District of Puget Sound from Port Townsend to Port Angeles. It was made official in June 1862.


Port Townsend, Washington by E.S. Glover, 1878




However, all was not going exactly as Smith had planned. While he was celebrating his success on his return voyage to the west coast, the Acting Collector of Customs in Port Townsend, Lieutenant Merryman, was auditing the books of the Customs House. Finding the accounts short some $15,000, Merryman immediately reported the discrepancy to the Treasury Department by letter.

When Smith returned to Port Townsend on August 1, 1862, Lieutenant Merryman refused him access to the Customs House, accusing him of embezzlement and insisting that he would await official clearance from the Treasury Department before allowing Smith to return to his duties.

But Smith was not to be deterred. Returning to the ship on which he had arrived, he ordered the captain to train his three 12-pound cannons on the Customs House and the city’s commercial district. With the guns trained on the city, Merryman finally gave up the records and the ship sailed for Port Angeles.

Incensed, Port Townsend citizens soon traveled to Olympia to protest Smith’s actions to the governor. Though a federal grand jury indicted Smith with 13 counts of embezzlement and misuse of public funds, the Treasury Department quashed the indictment after their investigation.

In the meantime, Smith was constructing a large building in Port Angeles which served as both his family home and the Customs House. But, the Port Townsend citizens were not done fighting and began to build a case denouncing Smith and the transfer of the Port of Entry to Port Angeles.

After Smith completed the building in Port Angeles that served as both his home and the Customs House, a portion of it was rented to the government for its use. However, the building was to be short-lived as in December 1863, a landslide in the Olympic Mountains caused the dam to burst, sending a torrent of water through the town. Leveling most of the city and sweeping the Customs House into the Strait of Juan de Fuca, two customs employees were killed in the disaster. Smith was out of town and his family was spared.

It was this disaster that leads to the first treasure tale. Inside the Customs House was a strongbox that allegedly held $1,500 in bank notes and numerous $20 gold coins valued at $7,500 at the time. While some say this money was funds that Smith had stolen during his tenure as a Customs Agent, others contend it was money rightfully paid to him by the government for his home in Ohio. In any event, the strongbox was swept away in the flood and no trace of it has ever been found.

Finally, President Lincoln removed Smith as a Customs Collector in January 1864. However, his “friends” at the Treasury Department gave him a new role as a special agent.

In this new job, Smith was often tasked with transporting large sums of money. In 1865, he and his family had been on the east coast and while returning to San Francisco on the Gold Rule, Smith was tasked with transporting a large amount of payroll funds to San Francisco. However, on the ships passage from New York to San Juan, it wrecked on the Roncador Reef near the Isthmus of Panama. Though no loss of life was suffered, the ship floundered for 11 days as the 700 passengers survived on supplies salvaged from the vessel. When they were rescued by two gunboats, the passengers were taken to Panama. In the mass confusion following the wreck, the strongbox containing the money mysteriously disappeared. Smith remained on the reef endeavoring to salvage the chest containing the money. The tale continues that with the aid of a diver, the chest was recovered; however, the gold was missing. Though Smith accused the captain of the theft, many thought it was Smith himself who had absconded with the money.

In the meantime, Smith’s family had crossed the Panama Canal by railroad and returned to San Francisco on the sailing ship “America.” Two weeks later, Smith followed, reaching San Francisco and transferring to the Brother Jonathan on July 28, 1865, for the trip to Port Angeles. Did the payroll funds from the east coast wind up at the bottom of the ocean near the Roncador Reef or did it go with Smith when he finally made his way to San Francisco?

After transferring to the Brother Jonathan, Smith was again accompanying a large amount of money – some $200,000 to pay the troops at Fort Vancouver, Walla Walla, and other posts in the Northwest. The ship was also thought to have been carrying crates of $20 gold pieces for transfer to Haskins and Company as well as Wells Fargo. A government Indian Agent for the Northwestern Region may have also brought gold coins on board for annual treaty payments to the tribes.

As the Brother Jonathan passed through the Golden Gate and headed north, they faced a strong headwind and heavy seas, which continually worsened during its journey. The next day, the ship pulled into the harbor at Crescent City to offload cargo. On her way again, the storm was building and the ship headed westward to avoid the rocks of St. George’s Reef. As the storm continued to rage, Captain DeWolf decided to return to Crescent City, California to wait out the storm.

However, on July 30, 1865, the ship hit a rock and began to break up. Many of the passengers loaded into life boats were immediately thrown out as the smaller boats capsized. In the end, of the 244 people on board, 19 only people survived in a damaged boat that hobbled into the Crescent City harbor. For weeks, bodies washed ashore, but of the gold and money on board, it was never found. Victor Smith was one of the casualties.

In 1866, the Customs Port of entry was returned to Port Townsend, among great rejoicing by the citizens.

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Mining Pyrite and Quartz Crystals

MMGYS

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Where Can I Find Gold In Washington State?

MMGYS

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click on top part of videos for links

[JD400]

Gold Rush 21 Ed Steer

Our series continues

objective: Gaining insights from these 8 year old videos
Feel free to comment TIA

Ed Steer at GATA Gold Rush 2011

MMGYS*GATA series

Gold Rush 21

The most important money in the world, in a world at risk.
leading commentators and economists reveal facts and evidence
of one of the most important and dramatic issues today...
the global manipulation of the gold market.

The Gold Rush 21 conference DVD records the proceedings of the Gold Anti-Trust Action Committee's Gold Rush 21 Conference held August 7-9 2005, in Dawson City, Yukon, Canada. This historic conference exposed the manipulation of the gold market by central banks and concluded with the adoption of the Dawson Declaration, an appeal for the liberation of the precious metals markets as a matter of international human rights.


Featuring:

John Brimelow
Jeffrey P. Dahl
John Embry
Antal E. Fekete
Alf Field
Catherine Austin Fitts
Adam Fleming
Peter George
Reginald H. Howe
Robert K. Landis
Ferdinand Lips
J.K. Mortensen
Bill Murphy
Chris Powell
Hugo Salinas Price
J.P. Schumacher
James Turk

[JD400]

Dow on verge of ending 7-day win streak as stock market faces midday 'Skyfall'

MMGYS

By Chris Matthews and William Watts

Published: June 11, 2019 12:54 p.m. ET
Share

China turns the credit faucet



Dow is on the brink of halting a 7-session win streak powered by gains in tech
Reports of a fresh round of stimulus from China had underpinned Tuesday’s rise
Declines in information technology and utilities led the S&P 500 lower midday

U.S. stocks relinquished early gains to turn negative Tuesday afternoon as investors digested a new round of posturing on the U.S.-China trade standoff, along with signs of growing global economic stimulus.
How are benchmarks performing?

The Dow DJIA, -0.09% fell 27 points, or 0.1%, to 26,050, while the S&P 500 index SPX, -0.14% lost 3 points, or 0.1%, at 2,883. The Nasdaq Composite Index COMP, -0.17% retreated 12 points, or 0.2%, to 7,810.

At session highs, the Dow had risen 185.99 points, or 0.7%, the S&P had climbed 23.88 points, or 0,8%. At its peak, the Nasdaq reached 86.83 points higher, a gain of 1.1%

The Dow has risen for six-straight sessions, the longest since an eight-day run that ended on May 14, 2018, according to Dow Jones Market Data.
What’s driving the market?

Wall Street appeared likely to join a global equity surge that analysts attributed to a decision by Chinese authorities to back special-purpose bond issuances by local governments. The move is an effort to accelerate financing of major projects through the bond issuances, which are used largely for infrastructure investment, the People’s Bank of China said in a joint statement with other government agencies, The Wall Street Journal (paywall) reported.

Investors, meanwhile, appeared to ignore a continued rumble of hostile rhetoric from the U.S. and China over trade. China’s foreign ministry on Tuesday said it would respond firmly if the U.S. insisted on escalating trade tensions, Reuters reported, after U.S. President Donald Trump on Monday said further tariffs on Chinese imports would take effect if the two countries don’t reach a deal at a meeting of Group of 20 leaders later this month.

Chinese officials, however haven't confirmed that President Xi will meet with president Trump at the meeting, to be held June 28-29. President Trump said Monday that if Xi doesn’t meet with him, additional tariffs will be placed on Chinese goods. U.S. Commerce Secretary Wilbur Ross said in an interview on CNBC Tuesday morning that he believes a deal will ultimately be reached, but cautioned investors not to expect a quick resolution.
What’s on the economic calendar?

The National Federation of Independent Business said its Small Business Optimism Index posted a May reading of 105, up 1.5 points from April. Six components of the index rose, three were unchanged and one declined.

The prices of wholesale goods rose 0.1% in May from April, down from the 0.2% rise in the previous month, underscoring the lack of inflation pressures in the U.S. economy, according to the producer-price index data. The increase in wholesale prices over the past year, meanwhile, slowed to 1.8% from 2.2% in April,
What are analysts saying?

China’s move to add more stimulus, “is a sign the pivot isn’t just a U.S. central bank phenomenon and that there is stimulus in the ramping up globally,” said Eric Wiegand, senior portfolio manager at U.S. Bank.

“There’s a lateral move with a positive modest bias,” right now, he said. “We’re still range bound. It wouldn’t be surprising to see more volatility around the G-20 meeting, as investors ask ‘will they or won’t they’” make a deal, he added.

“Yesterday’s global equity market rally has continued into Tuesday, thanks to Asian stocks being led higher by the prospect of new government stimulus in China,” said Russ Mould, investment director at AJ Bell, in a research note.
What stocks are in focus?

Private-equity giant Apollo Global Management LLC APO, +0.27% will acquire the online photo sharing company Shutterfly Inc. SFLY, +0.62% in an all cash deal worth $51 per share, valuing the company at $2.1 billion. Shutterfly stock closed at $50.25 per share, and rose 0.5% Tuesday.

Shares of CVS Health Corp. CVS, -1.67% could be in focus Tuesday, after the New York Post reported that a federal judge appears to be nearing a surprise move to block CVS’ $69 billion acquisition of Aetna, completed last year. The stock fell 1.2% Tuesday.

Shares of H&R Block Inc. HRB, +2.17% rose 1.9% Tuesday, after the tax preparation services company reported fiscal fourth-quarter profit and revenue that beat expectations, boosted its dividend and announced the acquisition of Wave Financial Inc., a small-business financial solutions platform.

Broadcom Inc. AVGO, -0.14% disclosed a two-year deal with Apple Inc. AAPL, +0.76% to provide components, Monday evening. The stock rose 0.3% Tuesday.

Shares of Chico’s FAS Inc. CHS, +10.89% rose 12.5%, after the women’s apparel retailer reported disappointing same-store sales growth for the first quarter, but beat earnings and revenue that topped expectations.

Beyond Meat Inc. BYND, -21.81% stock fell 20.3% Tuesday, after J.P. Morgan analyst Ken Goldman cut his rating on the stock from overweight to neutral, citing valuation concerns. The stock has risen 265% since its May 3 initial public offering.

Shares of JetBlue Airways Corp. JBLU, +3.21% rallied 3%, after Citi analyst Kevin Crissey published a bullish note on the firm.
How are other markets trading?

Stocks in Asia were in rally mode Tuesday, with China’s Shanghai Composite Index surging 2.6%, Hong Kong’s Hang Seng Index adding 0.8% and Japan’s Nikkei 225 rising 0.3%. European markets were also rising on the hope of Chinese stimulus; the Stoxx Europe 600 has added 0.7%.

In commodities markets, crude oil CLN19, +0.11% was staging a rebound on Tuesday, while the price of gold GCN19, +0.23% was in retreat. The U.S. dollar DXY, -0.06% meanwhile, was virtually unchanged.

https://www.marketwatch.com/story/stock-index-futures-point-to-positive-start-as-china-moves-to-bolster-economy-2019-06-11?siteid=rss&rss=1

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Dow Tumbles At Open, Erases Overnight Gains As Trump Heralds "Good Day In Stocks"

Tue, 06/11/2019 - 11:42


As The Dow headed for its seventh up-day in a row - the longest win streak in 13 months - the cash open has seen almost incessant selling, erasing the overnight hype gains.



The Dow joins Trannies and Small Caps in the red for the day..



Better 'unleash the Kudlow' stat to get this market back up...

https://www.zerohedge.com/news/2019-06-11/dow-tumbles-open-erases-overnight-gains-trump-heralds-good-day-stocks

[JD400]

Gold Bulls "Buy The Dip" As Trump Brow-Beats Federal Reserve

MMGYS* AM/PM Round Up

courtesy: wow happens28 TY TY TY

Jim Wyckoff Tuesday June 11, 2019 13:34


(Kitco News) - Gold prices are modestly up in early-afternoon U.S. dealings Tuesday. Early selling pressure that was tied to keener trader/investor risk appetite this week gave way to some bargain hunting following recent losses in the yellow metal. A slightly lower U.S. dollar index today and U.S. stock indexes backing down a bit also worked in favor of the precious metals market bulls. August gold futures were last up $1.50 an ounce at $1,330.90. July Comex silver prices were last up $0.101 at $14.74 an ounce.

The gold market may have been somewhat supported today by President Trump brow-beating the Federal Reserve again. He tweeted today that the Fed does not “have a clue” regarding its monetary policy. While the Fed members say they don’t pay attention to Trump, most don’t believe them. Trump’s pressure on the Fed to ease monetary policy could help to prompt a U.S. interest rate decrease as soon as next week, or in July, when the FOMC meets. Remember the about-face the Fed did late last year when Trump admonished them on raising interest rates.

European and Asian stock indexes were mostly higher again overnight, led by solid gains in China shares. The Chinese government moved to further stimulate its economy by announcing major infrastructure projects. The move by China’s government is an effort to offset the negative economic effects of the ongoing trade war with the U.S.

The U.S. economic data point of the day is the producer price index report for May, came in at up 0.1% from April, which was expected. Very low inflation levels not only in the U.S. but most of the world are an element that could also allow the Federal Reserve to lower U.S. interest rates as soon as this summer.

The key “outside markets” today see Nymex crude oil prices near steady and trading around $53.30 a barrel. The U.S. dollar index is slightly down and is in a near-term price downtrend. There are chart clues the USDX has put in a near-term top.


Technically, August gold futures prices closed nearer the session high today. The bulls still have the overall near-term technical advantage. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at last week’s high of $1,352.70. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,310.00. First resistance is seen at today’s high of $1,333.80 and then at this week’s high of $1,341.70. First support is seen at today’s low of $1,323.60 and then at $1,320.00. Wyckoff's Market Rating: 6.5


July silver futures prices closed nearer the session high today. The silver bears have the firm overall near-term technical advantage. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at last week’s high of $15.15 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at the May low of $14.265. First resistance is seen at $14.85 and then at $15.00. Next support is seen at this week’s low of $14.625 and then at last week’s low of $14.565. Wyckoff's Market Rating: 3.0.

July N.Y. copper closed up 90 points at 267.05 cents today. Prices closed nearer the session low on tepid short covering after hitting a five-month low last week. The copper bears have the solid overall near-term technical advantage. Prices are in a steep seven-week-old downtrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 277.75 cents. The next downside price objective for the bears is closing prices below solid technical support at the January low of 256.10 cents. First resistance is seen at today’s high of 270.20 cents and then at 272.50 cents. First support is seen at today’s low of 266.00 cents and then at this week’s low of 262.55 cents. Wyckoff's Market Rating: 2.0.

By Jim Wyckoff

[JD400]

Data & News From The Beginning


MMGYS

Welcome Back cork !


Good Morning Good Evening

'Mining Investor Insights Drawn From The Wells Of Minerals,Metals & Mining'


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

On the show tonight: Great Data & News by Harvey Organ , The Dow Halted It's 7-session Win Streak Powered By A Fresh Round Of Stimulus From China, Jim Wyckoff From Kitco Gives Us The Latest On Gold & Silver In His AM/PM Round Up , In Our Continuing Series GATA 'Gold Rush 21' Exposes The Manipulation of The Gold Market By Central Banks, Treasure Tales: Lost Washington State Treasure Tales, and maybe more.....


Hello everybody I'm J:D your host tonight Thanks for being with us.

Hope Your Having a Beautiful Evening

EnJoy the show

OK...Here We go... we're packed tonight

Harvey's full Data Edition coming your way


MMGYS

Thank you

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JUNE 11/GOLD UP $1.65 TO $1325.50//SILVER IS UP 10 CENTS TO $14.76//DEPT OF JUSTICE RELEASES A LETTER SENT TO NADLER STATING THEIR PROBE WILL BE FAR REACHING!!///MORE SWAMP STORIES FOR YOU TONIGHT//
June 11, 2019 · by harveyorgan · in Uncat





GOLD: $1325.50 UP $1.65 (COMEX TO COMEX CLOSING)

Silver: $14.76 UP 10 CENTS (COMEX TO COMEX CLOSING)//



Closing access prices:

Gold : $1327.00



silver: $14.75




YOUR DATA…






COMEX DATA





JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

today RECEIVING 133/920

EXCHANGE: COMEX
CONTRACT: JUNE 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,324.700000000 USD
INTENT DATE: 06/10/2019 DELIVERY DATE: 06/12/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
323 H HSBC 499
657 C MORGAN STANLEY 50
661 C JP MORGAN 920 133
685 C RJ OBRIEN 3
686 C INTL FCSTONE 75
690 C ABN AMRO 6
737 C ADVANTAGE 96
800 C MAREX SPEC 20
905 C ADM 38
____________________________________________________________________________________________

TOTAL: 920 920
MONTH TO DATE: 1,459




NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT: 920 NOTICE(S) FOR 92000 OZ (2.816 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR: 1459 NOTICES FOR 14590000 OZ (4.538 TONNES)







SILVER



FOR JUNE




1 NOTICE(S) FILED TODAY FOR 5,000 OZ/



total number of notices filed so far this month: 310 for 1550,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: OPENING MORNING TRADE : $ 7926 UP 13






Bitcoin: FINAL EVENING TRADE: $ 7874 DOWN 40





end



XXXX





Let us have a look at the data for today

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IN SILVER THE COMEX OI ROSE A SMALL SIZED 263 CONTRACTS FROM 221,823 UP TO 222,086 DESPITE THE HUGE 38 CENT LOSS IN SILVER PRICING AT THE COMEX.( LIQUIDATION OF THE SPREADERS HAVE STOPPED FOR SILVER AND IT STOPPED FOR GOLD AS WELL. WE WILL WITNESS A RISE IN THE SPREADERS IN SILVER ONCE WE START TRADING IN JUNE… READY FOR THE FIRST DAY NOTICE JULY CONTRACT.) TODAY WE ARRIVED FURTHER FROM AUGUST’S 2018 RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S. WE WERE NOTIFIED THAT WE HAD A VERY HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:

0 FOR MAY, 0 FOR JUNE, 1313 FOR JULY. 180 FOR AUGUST, 24 FOR SEPT, AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 1517 CONTRACTS. WITH THE TRANSFER OF 1517 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 1517 EFP CONTRACTS TRANSLATES INTO 7.585 MILLION OZ ACCOMPANYING:

1.THE 38 CENT LOSS IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST NINE MONTHS:

JUNE/2018. (5.420 MILLION OZ);

FOR JULY: 30.370 MILLION OZ

FOR AUG., 6.065 MILLION OZ

FOR SEPT. 39.505 MILLION OZ S

FOR OCT.2.525 MILLION OZ.

FOR NOV: A HUGE 7.440 MILLION OZ STANDING AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

2.955 MILLION OZ STANDING FOR FEBRUARY.:

27.120 MILLION OZ STANDING IN MARCH.

3.875 MILLION OZ STANDING FOR SILVER IN APRIL.

18.845 MILLION OZ STANDING FOR SILVER IN MAY.

1.560 MILLION OZ STANDING FOR SILVER IN JUNE//



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

20,868 CONTRACTS (FOR 7 TRADING DAYS TOTAL 20,868 CONTRACTS) OR 104.340 MILLION OZ: (AVERAGE PER DAY: 2981 CONTRACTS OR 14.91 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JUNE: 104.230 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 11.09% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

ACCUMULATION IN YEAR 2019 TO DATE SILVER EFP’S: 993.06 MILLION OZ.

JANUARY 2019 EFP TOTALS: 217.455. MILLION OZ

FEB 2019 TOTALS: 147.4 MILLION OZ/

MARCH 2019 TOTAL EFP ISSUANCE: 207.835 MILLION OZ

APRIL 2019 TOTAL EFP ISSUANCE: 182.87 MILLION OZ.

MAY 2019: TOTAL EFP ISSUANCE: 136.55 MILLION OZ

RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 263 DESPITE THE LARGE 38 CENT FALL IN SILVER PRICING AT THE COMEX /YESTERDAY... THE CME NOTIFIED US THAT WE HAD A LARGE SIZED EFP ISSUANCE OF 1517 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) . OUR BANKERS WILL RESUME THEIR LIQUIDATION OF THE SPREAD TRADES FOR SILVER ONCE THE JUNE CONTRACT COMMENCES IN EARNEST….

TODAY WE GAINED A GOOD SIZED: 1780 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 1517 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH INCREASE OF 263 OI COMEX CONTRACTS. AND ALL OF THIS HUGE DEMAND HAPPENED WITH A 38 CENT LOSS IN PRICE OF SILVER AND A CLOSING PRICE OF $14.66 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY!!





In ounces AT THE COMEX, the OI is still represented by JUST OVER 1 BILLION oz i.e. 1.082 BILLION OZ TO BE EXACT or 152% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH/ THEY FILED AT THE COMEX: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

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

AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ MAY: 36.285 MILLION OZ ; JUNE/2018 (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ JANUARY AT 5.825 MILLION OZ.AND FEB 2019: 2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/ APRIL AT 3.875 MILLION OZ/ A MAY: 18.845 MILLION OZ ..JUNE 1.560 MILLION OZ//
HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018: 244,196 CONTRACTS, WITH A SILVER PRICE OF $14.78.
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/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

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)

.

WITH RESPECT TO SPREADING: WE PROBABLY HAD VERY STRONG ACTIVITY OF SPREADING ACCUMULATION IN SILVER TODAY AS TOTAL OI ROSE DESPITE THE NASTY FALL IN PRICE



.



FOR NEWCOMERS, HERE IS THE MODUS OPERANDI OF THE CORRUPT BANKERS WITH RESPECT TO THEIR SPREAD/TRADING.





AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:





“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCHED TO SILVER AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NO INTO THE NON ACTIVE DELIVERY MONTH OF MAY HEADING TOWARDS THE VERY ACTIVE DELIVERY MONTH OF JUNE.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES, HERE IS THE BANKERS MODUS OPERANDI:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST IS STARTING TO RISE IN THIS NON ACTIVE MONTH OF JUNE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (JULY), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”



IN GOLD, THE OPEN INTEREST FELL BY A LESS THAN EXPECTED 2095 CONTRACTS, TO 499,227 DESPITE THE HUGE $16.40 PRICING FALL WITH RESPECT TO COMEX GOLD PRICING YESTERDAY// /THE SPREADING LIQUIDATION HAS STOPPED AND THESE SPREADING FELLOWS HAVE ALREADY MORPHED INTO SILVER.





THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 4389 CONTRACTS:

APRIL 0 CONTRACTS,JUNE: 0 CONTRACTS, AUGUST 2019: 4389 CONTRACTS, DEC> 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 5499,227. 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 AN GOOD SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2294 CONTRACTS: 2095 CONTRACTS DECREASED AT THE COMEX AND 4447 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN OF 2294 CONTRACTS OR 229,400 OZ OR 7.135 TONNES. YESTERDAY WE HAD A LARGE LOSS OF $16.40 IN GOLD TRADING.…AND DESPITE THAT LOSS IN PRICE, WE HAD A GOOD GAIN IN GOLD TONNAGE OF 7.135 TONNES!!!!!! THE BANKERS WERE SUPPLYING COPIOUS SUPPLIES OF SHORT GOLD COMEX PAPER.



ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 84,535 CONTRACTS OR 8,453,500 OR 262.293 TONNES (7 TRADING DAYS AND THUS AVERAGING: 12,076 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 7 TRADING DAYS IN TONNES: 262.293 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 262.293/3550 x 100% TONNES =7.38% OF GLOBAL ANNUAL PRODUCTION



ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE: 2,540.84 TONNES

JANUARY 2019 TOTAL EFP ISSUANCE; 531.20 TONNES

FEB 2019 TOTAL EFP ISSUANCE: 344.36 TONNES

MARCH 2019 TOTAL EFP ISSUANCE: 497.16 TONNES

APRIL 2019 TOTAL ISSUANCE: 456.10 TONNES

MAY 2019 TOTAL ISSUANCE: 449.10 TONNES





WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLEDRIAL 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 SMALL SIZED DECREASE IN OI AT THE COMEX OF 2095 DESPITE THE LARGE PRICING LOSS THAT GOLD UNDERTOOK ON YESTERDAY($16.40)) //.WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 4389 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 4389 EFP CONTRACTS ISSUED, WE HAD AN GOOD SIZED GAIN OF 4447 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

4389 CONTRACTS MOVE TO LONDON AND 2095 CONTRACTS DECREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 7.13 TONNES). ..AND THIS GAIN OF DEMAND OCCURRED DESPITE THE FALL IN PRICE OF $16.40 WITH RESPECT TO YESTERDAY’S TRADING AT THE COMEX. WE HAD ZERO PRESENCE OF SPREADING ACCUMULATION IN GOLD ///TODAY/







we had: 920 notice(s) filed upon for 92,000 oz of gold at the comex.



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

GLD...



WITH GOLD UP $1.65 TODAY//

A SMALL CHANGE IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF .24 TONNES AND BECAUSE IT IS SMALL IT IS USUALLY FOR FEES ETC.







INVENTORY RESTS AT 756.18 TONNES



TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD. IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY

SLV/

WITH SILVER UP 10 CENTS TODAY:



NO CHANGE WITH RESPECT TO SILVER INVENTORY AT THE SILVER SLV





/INVENTORY RESTS AT 315.362 MILLION OZ.





end



OUTLINE OF TOPICS TONIGHT



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

1. Today, we had the open interest in SILVER ROSE BY A SMALL SIZED 263 CONTRACTS from 221,823 UP TO 222,086 AND CLOSER TO THE NEW COMEX RECORD SET LAST IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 1 1/3 YEARS AGO. THE PRICE OF SILVER ON THAT DAY: $17.89. AS YOU CAN SEE, WE HAVE RECORD HIGH OPEN INTERESTS IN SILVER ACCOMPANIED BY A CONTINUAL LOWER PRICE WHEN THAT RECORD WAS SET…..THE SPREADERS HAVE COMMENCED THEIR ACCUMULATION OF OPEN INTEREST CONTRACTS IN SILVER AND STOPPED THE LIQUIDATION OF THE SPREADERS IN GOLD




EFP ISSUANCE:

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:



FOR JUNE 0 CONTRACTS AND JULY: 1313 CONTRACTS FOR AUGUST: 180, FOR SEPT. 24 AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1517 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 263 CONTRACTS TO THE 1517 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A VERY GOOD GAIN OF 1780 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 8.90MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESSED A FINAL STANDING OF GREATER THAN 30 MILLION OZ FOR JULY, A STRONG 7.475 MILLION OZ FOR AUGUST.. A HUGE 39.505 MILLION OZ STANDING FOR SILVER IN SEPTEMBER… OVER 2 million OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER., 7.440 MILLION OZ FINALLY STANDING IN NOVEMBER. 21.925 MILLION OZ STANDING IN DECEMBER , 5.845 MILLION OZ STANDING IN JANUARY. 2.955 MILLION OZ STANDING IN FEBRUARY, 27.120 MILLION OZ FOR MARCH., 3.875 MILLION OZ FOR APRIL 18.765 MILLION OZ FOR MAY AND NOW 1.570 MILLION OZ FOR JUNE.





RESULT: A TINY SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE 38 CENT GAIN IN PRICING THAT SILVER UNDERTOOK IN PRICING// YESTERDAY. WE ALSO HAD A GOOD SIZED 1517 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR THIS MONTH, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL





(report Harvey)

.



2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg
3. ASIAN AFFAIRS

I)TUESDAY MORNING/ MONDAY NIGHT:

SHANGHAI CLOSED DOWN UP 73.59 POINTS OR 2.58% //Hang Sang CLOSED UP 210.70 POINTS OR 0.76% /The Nikkei closed UP 69.86 POINTS OR 0.33%//Australia’s all ordinaires CLOSED UP 1.52%

/Chinese yuan (ONSHORE) closed UP at 6.9123 /Oil UP TO 53.76 dollars per barrel for WTI and 62/33 for Brent. Stocks in Europe OPENED GREEN// ONSHORE YUAN CLOSED UP // LAST AT 6.9123 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.9274 TRADE TALKS STALL//YUAN LEVELS GETTING DANGEROUSLY CLOSE TO 7:1//TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP RAISED RATES TO 25%




3A//NORTH KOREA/ SOUTH KOREA





b) REPORT ON JAPAN
3 China/Chinese affairs

i)China/Globe

China still produces 70% of the world’s rare earths but it is diminishing. Many countries have started to compete with China. However mining of rare earths are costly as these earths are locked up in oxides or other compounds making extraction difficult

( zerohedge)








4/EUROPEAN AFFAIRS





i) UK/

Boris Johnson’s seems to have solidified his lead as Gove is reported to have taken cocaine. He has pledged tax cuts which appeal to the conservative base. Boris Johnson wants to leave the EU and not to pay anything. He will renege on European debt owed. This should be very interesting if he wins

(courtesy zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

i)TURKEY

Turkey is helping enemies of Hafter. They still have large sections inside Tripoli and fighting is house to house.

A good look at the situation inside Libya today and how Turkey is destabilizing the situation.

( Miniter/HumanEvents.com)

ii)Iran

There is now no question that a permanent military presence in the Persian Gulf is the only way to counter Iran’s threats

( zerohedge)
6. GLOBAL ISSUES



Mexico/USA








7. OIL ISSUES




8 EMERGING MARKET ISSUES



i)VENEZUELA/




9. PHYSICAL MARKETS
i)USA gold’s views on gold and silver:

(courtesy USAgold.com)
10. USA stories which will influence the price of gold/silver)





MARKET TRADING//

a)Market trading/LAST NIGHT/



II)MARKET TRADING



ii)Market data

This is not what the Fed wants: producer price growth slumps the weakest in a 1 1/2 years. PPI is a forerunner for inflation growth.

( zerohedge)



iii)USA ECONOMIC/GENERAL STORIES

a)Illinois does not have a balanced budget: it still owes billions on its pension plans

( Dabroski)

b)This is something that we should pay attention to:
1.bubbling tar is oozing up through the streets of LA
2 as many as 700 quakes has hit the Fontana area near San Diego since May 25.
3. many smell methane gas in areas where the bubbling tar comes up
(Michael Snyder/Economic Collapse Blog)



SWAMP STORIES

a)Two commentaries on the same subject: The Dept of Justice broadens and includes non governmental agencies, foreign actors and government personnel. This is very big

(courtesy zero hedge/and Gateway)

b)The crook Soros is at it again: this is how his damaging radical leftist agenda is hurting the city of Philadelphai

(courtesy Sara Carter)


E)SWAMP STORIES/MAJOR STORIES//THE KING REPORT
end
LET US BEGIN:


Let us head over to the comex:



THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 2095 CONTRACTS TO A LEVEL OF 499,227 DESPITE THE FALL OF $16.40 IN GOLD PRICING WITH RESPECT TO YESTERDAY’S // COMEX TRADING)

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF JUNE.. THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 4389 EFP CONTRACTS WERE ISSUED:

0 FOR JUNE ’19: 0 CONTRACTS , AUG; 4389 CONTRACTS: DEC: 0 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4389 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 OUR 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: 2294 TOTAL CONTRACTS IN THAT 4389 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A LOST A SMALL SIZED 2095 COMEX CONTRACTS. THE BANKERS SUPPLIED THE NECESSARY SHORT PAPER IN GOLD TO CONTAIN THE PRICE RISE.



NET GAIN ON THE TWO EXCHANGES :: 2294 CONTRACTS OR 229,400 OZ OR 7.135 TONNES.



We are now in the active contract month of JUNE and here the open interest stands at 1160 CONTRACTS as we lost 99 contracts. We had 2 notices filed yesterday so we lost 97 contracts or 9700 oz of gold that will not stand for delivery as there appears to be no gold at the comex and thus they morphed into London based forwards (as they are gave up on their luck on finding the fast vanishing supplies of physical gold over here) as well as accepting a fiat bonus for their effort. The next contract month is the non active month of July and here the OI fell by 43 contracts down to 1187 contracts. The next big active month for deliverable gold is August and here the OI fell by 4162 contracts DOWN to 373,061.



TODAY’S NOTICES FILED:

WE HAD 920 NOTICES FILED TODAY AT THE COMEX FOR 92000 OZ. (2.861 TONNES)



xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now for the wild silver comex results.

Total COMEX silver OI ROSE BY A SMALL SIZED 263 CONTRACTS FROM 221,823 UP TO 222,086 (AND CLOSER TO THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018. THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S STRONG OI COMEX GAIN OCCURRED DESPITE A 38 CENT FALL IN PRICING.//YESTERDAY.





WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF JUNE. HERE WE HAVE 3 OPEN INTEREST STAND FOR DELIVERY WITH A LOSS OF 1 CONTRACT. WE HAD 1 NOTICES FILED ON FRIDAY SO WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ OF SILVER WILL STAND AT THE COMEX.



THE NEXT MONTH AFTER JUNE IS THE ACTIVE MONTH OF JULY. HERE THE OI FELL BY 5676 CONTRACTS DOWN TO 141,848. WE GAINED 184 CONTRACTS OF OI FOR AUGUST TO STAND AT 503. THE NEXT BIG ACTIVE DELIVERY MONTH AFTER AUGUST IS SEPT AND HERE THE OI ROSE BY 3333 CONTRACTS UP TO 40,148 CONTRACTS.









TODAY’S NUMBER OF NOTICES FILED:



We, today, had 1 notice(s) filed for 5,000 OZ for the JUNE, 2019 COMEX contract for silver




Trading Volumes on the COMEX TODAY: 210,918 CONTRACTS






CONFIRMED COMEX VOL. FOR YESTERDAY: 244,307 contracts










INITIAL standings for JUNE/GOLD

June 11/2019
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
798.54 oz
Scotia
Deposits to the Dealer Inventory in oz

nil





Deposits to the Customer Inventory, in oz







nil oz





No of oz served (contracts) today
920 notice(s)
92000 OZ
(2.861 TONNES)
No of oz to be served (notices)
240 contracts
(24,000 oz)
0.7465 TONNES
Total monthly oz gold served (contracts) so far this month
1459 notices
145,900 OZ
4.538 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

STILL: SUSPECT GOLD ENTERS THE GOLD COMEX

we had 0 dealer entry:

We had 0 kilobar entries









total dealer deposits: nil oz

total dealer withdrawals: nil oz



we had 0 deposit into the customer account

i) Into JPMorgan: nil oz



ii) Into everybody else: nil oz







total gold deposits: nil oz



very little gold arrives from outside/ nothing arrived today

we had 1 gold withdrawal from the customer account:





Gold withdrawals;

i) We had 1 withdrawal:

out of Scotia: 798.54 oz

.

total gold withdrawals; 798.54 oz




i) we had 0 adjustment today

FOR THE JUNE 2019 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 920 notices were issued from their client or customer account. The total of all issuance by all participants equates to 922 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 133 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 0 notices by the squid (Goldman Sachs)



xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
To calculate the INITIAL total number of gold ounces standing for the JUNE /2019. contract month, we take the total number of notices filed so far for the month (1459) x 100 oz , to which we add the difference between the open interest for the front month of JUNE. (1160 contract) minus the number of notices served upon today (920 x 100 oz per contract) equals 169,900 OZ OR 5.2846 TONNES) the number of ounces standing in this NON active month of MAY

Thus the INITIAL standings for gold for the JUNE/2019 contract month:

No of notices served (1459 x 100 oz) + (1160)OI for the front month minus the number of notices served upon today (920 x 100 oz )which equals 169900 oz standing OR 5.2846 TONNES in this active delivery month of JUNE.

We LOST 97 contracts or an additional 9700 oz will NOT stand as these guys morphed into London based forwards as they just could not find any real, physical gold at the comex in New York.









SURPRISINGLY LITTLE TO NO GOLD HAS BEEN ENTERING THE COMEX VAULTS AND WE HAVE WITNESSED THIS FOR THE PAST YEAR!! WE HAVE ONLY 7.3210 TONNES OF REGISTERED ( GOLD OFFERED FOR SALE) VS 5.2846 TONNES OF GOLD STANDING// THEY SEEM TO BE USING CONSIDERABLE GOLD VAPOUR TO SETTLE UPON UNSUSPECTING LONGS.








total registered or dealer gold: 324,118.255 oz or 10.08 tonnes (we again had a huge adjustment yesterday of gold leaving the customer and entering the dealer//this is nothing but gold vapour)
total registered and eligible (customer) gold; 7,674,435.852 oz 238.707 tonnes







OF OPEN INTERESTS FOR THE UPCOMING JUNE 2019 CONTRACT VS JUNE 2018




FOR THE INITIAL JUNE 2018 CONTRACT WE HAD A HUGE 32.152 TONNES STAND. (VS 5.2846 TONNES TODAY/JUNE 2019)

HOWEVER BY MONTH’S END ONLY 21.56 TONNES EVENTUALLY STOOD AS THE REST MORPHED INTO LONDON BASED FORWARDS. AS YOU CAN SEE, THE CROOKS ARE FOLLOWING THE SAME FORMAT OF MORPHING VS LAST YEAR AS ONLY GOLD VAPOUR SEEMS TO BE PHYSICALLY PRESENT AT THE COMEX AND LONGS MUST TRY THEIR LUCK IN LONDON.

IN THE LAST 32 MONTHS 117 NET TONNES HAS LEFT THE COMEX.


THE GOLD COMEX IS NOW IN STRESS AS
1. GOLD IS LEAVING THE COMEX
2. GOLD IS LEAVING THE REGISTERED CATEGORY OF THE COMEX.

end
And now for silver
AND NOW THE DELIVERY MONTH OF June
INITIAL standings/SILVER
IN TOTAL CONTRAST TO GOLD, HUGE ACTIVITY IN SILVER TODAY.
june 11 2019
Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
1,670,161.115 oz
CNT
Brinks
HSBC
Loomis




Deposits to the Dealer Inventory
NIL oz
Deposits to the Customer Inventory
1,402,221.640 oz
HSBC
CNT
Scotia
No of oz served today (contracts)
1
CONTRACT(S)
(5,000 OZ)
No of oz to be served (notices)
2 contracts
10,000 oz)
Total monthly oz silver served (contracts) 310 contracts

1,550,000 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

total dealer withdrawals: nil oz

we had 3 deposits into the customer account

into JPMorgan: nil





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

JPMorgan now has 149.469 million oz of total silver inventory or 48.80% of all official comex silver. (149 million/307 milli

i)into CNT: 604,944.000 oz

ii) Into hSBC 377,243.840 oz

iii) Out of Scotia: 420,033.750 oz











total customer deposits today: 1,402,221.640 oz


we had 3 withdrawals out of the customer account:



i) out of brinks: 387,757.335 0z



ii) out of HSBC: 20,214.560 oz

iii) out of CNT 605,649.800 oz

iv) out of Loomis: 656,539.420 oz










total 1,670,161.115 oz



we had 0 adjustments :







total dealer silver: 87.119 million

total dealer + customer silver: 301.723 million oz



The total number of notices filed today for the JUNE 2019. contract month is represented by 1 contract(s) FOR nil oz

To calculate the number of silver ounces that will stand for delivery in JUNE, we take the total number of notices filed for the month so far at 310 x 5,000 oz = 1,550,000 oz to which we add the difference between the open interest for the front month of JUNE. (4) and the number of notices served upon today (1 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JUNE/2019 contract month: 310(notices served so far)x 5000 oz + OI for front month of MAY( 4) -number of notices served upon today (1)x 5000 oz equals 1,560,000 oz of silver standing for the JN contract month.

WE LOST 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND AS THESE GUYS REFUSED TO MORPH INTO A LONDON BASED FORWARDS AND AS WELL THEY ALSO NEGATING A FIAT BONUS FOR THEIR EFFORT.















TODAY’S NUMBER OF NOTICES FILED:



We, today, had 1 notice(s) filed for 5,000 OZfor the JUNE, 2019 COMEX contract for silver













xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx





TODAY’S ESTIMATED SILVER VOLUME: 95,646 CONTRACTS (we had considerable spreading activity..accumulation













CONFIRMED VOLUME FOR YESTERDAY: 119,169 CONTRACTS..(we no doubt had considerable spreading activity as they are now starting to accumulate in silver)









YESTERDAY’S CONFIRMED VOLUME OF 119,169 CONTRACTS EQUATES to 595 million OZ 85.10% 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







xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx







NPV for Sprott

1. Sprott silver fund (PSLV): NAV RISES TO -2.07% June 11/2019)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -1.32% to NAV (june 11/2019 )
Note: Sprott silver trust back into NEGATIVE territory at -2.07%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):

NAV 13.09 TRADING 12.54/DISCOUNT 4.17

END

And now the Gold inventory at the GLD/

JUNE 11/WITH GOLD UP $1.65 CENTS TODAY: A TINY CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .24 TONNES AND THIS IS TO PAY FOR FEES/INVENTORY RESTS AT 756.18 TONNES

JUNE 10/WITH GOLD DOWN $16.40 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.17 TONNES/INVENTORY RESTS AT 756.42 TONNES

june 7/WITH GOLD UP $3.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 757.59 TONNES

jUNE 6/WITH GOLD UP $8.40 TODAY/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 757.59 TONNES

JUNE 5 WITH GOLD UP $6.00 TODAY/STRANGE: A WITHDRAWAL OF 2.06 TONNES FROM THE GLD/INVENTORY RESTS AT 757.59 TONNES

JUNE 4/WITH GOLD UP 0.85 TODAY: A MONSTROUS PAPER GAIN OF 16.44 TONNES/GLD INVENTORY RESTS AT 759.65 TONNES

JUNE 3/WITH GOLD UP $17.50 TODAY: ANOTHER BIG CHANGE, A DEPOSIT OF 2.35 TONNES OF GOLD INTO THE GLD//

MAY 31/WITH GOLD UP $17.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/GLD INVENTORY RESTS AT 740.86 TONNES

MAY 30: WI6H GOLD UP $6.40 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.52 TONNES/INVENTORY RESTS AT 740.86 TONNES

MAY 29/WITH GOLD UP $3.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 737.34 TONNES

MAY 28/WITH GOLD DOWN $6.50 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD> A WITHDRAWAL OF 1.47 TONNES/INVENTORY RESTS AT 737.34 TONNES

MAY 24/WITH GOLD DOWN $1.60 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 738.81 TONNES

MAY 23/WITH GOLD UP $11.10 TODAY: A STRANGE WITHDRAWAL OF .88 TONNES FORM THE GLD/INVENTORY RESTS AT 738,81 TONNES

MAY 22//WITH GOLD FLAT TODAY: WE HAD A GOOD 1.52 TONNES OF GOLD DEPOSIT INTO THE GLD/INVENTORY RESTS TONIGHT AT 739.69 TONNES



MAY 21/WITH GOLD DOWN $3.65 TODAY: A SURPRISE 2.00 TONNES WERE ADDED TO THE GLD GOLD INVENTORY//INVENTORY RESTS AT 738.17 TONNES

MAY 20/WITH GOLD UP $1.00 A HUGE 2.96 TONNE DEPOSIT INTO THE GLD//INVENTORY RESTS AT 736.17 TONNES

MAY 17/WITH GOLD DOWN $9.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 733.23 TONNES

MAY 16/WITH GOLD DOWN $11.50: A WITHDRAWAL OF 3.23 TONNES FROM THE GLD//INVENTORY RESTS AT 733.23 TONNES

MAY 15/WITH GOLD UP $1.50 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 736.46 TONNES

MAY 14//WITH GOLD DOWN $5.45 TODAY: STRANGE!! THE CROOKS DECIDED TO DEPOSIT A HUGE 3.23 TONNES INTO THE GLD INVENTORY//INVENTORY RESTS AT 736.46 TONNES

MAY 13/ WITH GOLD UP ANOTHER $15.40 TODAY: STRANGE! A MASSIVE WITHDRAWAL OF 6.41 TONNES OF GOLD (TO TAME GOLD’S RISE TODAY)/INVENTORY RESTS AT 733.23 TONNES

MAY 10 WITH GOLD UP $2.15 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 739.64 TONNES

MAY 9//WITH GOLD UP $4.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 739.64 TONNES

MAY 8/WITH GOLD DOWN $3.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 739.64 TONNES

MAY 7/ WITH GOLD UP $1.80: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 739.64 TONNES

MAY 6/WITH GOLD UP $2.35: ANOTHER WITHDRAWAL OF 5.88 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 739.64 TONNES

MAY 3/WITH GOLD UP $9.35 TODAY: A WITHDRAWAL OF 1.17 TONNES OF GOLD FROM THE GLD INVENTORY/INVENTORY RESTS AT 745.52

MAY 2/WITH GOLD DOWN $12.30 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 746.69 TONNES

MAY 1/WITH GOLD DOWN $1.20 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 746.69 TONNES





xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

JUNE 11/2019/ Inventory rests tonight at 756.18 tonnes

*IN LAST 609 TRADING DAYS: 177.579 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 509 TRADING DAYS: A NET 11.95 TONNES HAVE NOW BEEN REMOVED FROM THE GLD INVENTORY.



end



Now the SLV Inventory/

JUNE 11/WITH SILVER UP 10 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 315.652 MILLION OZ//

JUNE 10/WITH SILVER DOWN 38 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.652 MILLION OZ//

june 7/WITH SILVER UP ANOTHER 12 CENTS, NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.652 MILLION OZ//

jUNE 6/WITH SILVER UP ANOTHER 9 CENTS TODAY: A FAIR SIZE DEPOSIT OF 630,087 OZ//INVENTORY RESTS AT 315.652 MILLION OZ//

JUNE 5/WITH SILVER UP 4 CENTS TODAY: A HUGE PAPER DEPOSIT OF 2.396 MILLION OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 314.434 MILLION OZ//

JUNE 4/WITH SILVER UP 1 CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 312.038 MILLION OZ//

JUNE 3/WITH SILVER UP 19 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 312.038 MILLION OZ//

MAY 31/WITH SILVER UP 6 CENTS TODAY: A DEPOSIT OF 422,000 OZ INTO THE SLV INVENTORY//INVENTORY RESTS AT 312.038 MILLION OZ/

May 30/WITH SILVER UP 19 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ///

MAY 29/WITH SILVER UP 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ//

MAY 28/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ//

MAY 24/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ/

MAY 23/WITH SILVER UP 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.616 MILLION OZ//

MAY 22/WITH SILVER UP 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS TONIGHT AT 311.616 MILLION OZ

MAY 21: WITH SILVER DOWN 3 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 750,000 OZ///INVENTORY RESTS AT 311.616 MILLION OZ//

MAY 20/WITH SILVER UP 6 CENTS:NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 312.366 MILLION OZ

MAY 17/WITH SILVER DOWN 13 CENTS TODAY: A BIG CHANGES IN SLV: A WITHDRAWAL OF 3.185 MILLION OZ FROM THE SLV INVENTORY VAULTS:/INVENTORY RESTS AT 312.366 MILLION OZ//

MAY 16/WITH SILVER DOWN 26 CENTS: NO CHANGES IN THE SLV INVENTORY//INVENTORY RESTS AT 315.551 MILLION OZ//

MAY 15/WITH SILVER UP 2 CENTS TODAY: A BIG CHANGE IN SLV INVENTORY: A WITHDRAWAL OF 1.031 MILLION OZ// THE SLV/INVENTORY RESTS AT 315.551 MILLION OZ.

MAY 14/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV. INVENTORY RESTS AT 316.582 MILLION OZ/

MAY 13//WITH SILVE5 DOWN 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ…

MAY 10/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 316.582 MILLION OZ///

MAY 9/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 316.582 MILLION OZ//

MAY 8/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ///

MAY 7/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ//

MAY 6/WITH SILVER DOWN 3 CENTS WE HAD ANOTHER DEPOSIT OF 891,000 OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 316.582 MILLION OZ/

MAY 3//WITH SILVER UP 34 CENTS TODAY: A DEPOSIT OF 843,000 OZ INTO THE SLV/TOTAL INVENTORY RESTS AT 315.691 MILLION OZ//

MAY 2/WITH SILVER DOWN ANOTHER 13 CENTS, MIRACUOUSLY THE AUTHORITIES ADD 2.869 MILLION OZ OF SILVER BACK INTO THE SLV/INVENTORY RESTS AT 314.848 MILLION OZ//

MAY 1/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 311.979 MILLION OZ////



JUNE 11/2019:


Inventory 315.652 MILLION OZ

LIBOR SCHEDULE AND GOFO RATES:





THE RISE IN LIBOR IS CREATING A SCARCITY OF DOLLARS BECAUSE FOREIGN EXCHANGE SWAPS (COSTS) ARE SIMPLY PROHIBITIVE

YOUR DATA…..

6 Month MM GOFO 2.03/ and libor 6 month duration 2.37

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

G0LD LENDING RATE: + .34



XXXXXXXX

12 Month MM GOFO
+ 2.04%

LIBOR FOR 12 MONTH DURATION: 2.35



GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE = +.31

end



PHYSICAL GOLD/SILVER STORIES


end
i) GOLDCORE BLOG/Mark O’Byrne
Gold To Reach 6 Y



end
GATA STORIES WITH RESPECT TO GOLD/PRECIOUS METALS.



GATA) Obviousness of gold market rigging helps central banks but there’s a limit

Submitted by cpowell on 02:25PM ET Tuesday, June 11, 2019. Section: Daily Dispatches

10:29a ET Tuesday, June 11, 2019
>Dear Friend of GATA and Gold:

Responding to your secretary/treasurer’s observation Sunday that central bank and government interventions against gold have been becoming more obvious —

www.gata.org/node/19134

— our friend C.W. writes that the more obvious interventions against gold become, the more effective they are.

“As more investors see that the gold market is relentlessly and successfully suppressed,” C.W. writes, “they (to quote Sam Goldwyn) ‘stay away in droves.’ The suppressors have found that there are no sanctions against their activities and so have concluded that the more widespread the belief that they are controlling the gold price, the better. That is why the rigging is so obvious.

“Although Stein’s Law (“If something can’t go on forever, it will eventually stop”) applies here, I am not sure I will live long enough to see it, and such a feeling also depresses sentiment.”

* * *

C.W. is right, but only to an extent. For central banks and governments long have concealed their interventions against gold —

http://www.gata.org/node/12016

— and even now refuse to acknowledge them formally —

http://gata.org/node/18210

http://gata.org/node/18832

http://gata.org/node/17793

— and still refuse to acknowledge them because they realize that acknowledging them would cause bigger problems, demolishing the myth of free markets generally and, by informing ignorant market participants, of whom there are still many, drive them out of rigged markets and impair the necessary publicity for the prices that discourage other investors.

The increasing obviousness of government and central banks interventions is less a strategy than a consequence of the increasing difficulty of market rigging. Gold price suppression is discouraging production and causing tightness in the physical market that “paper gold” cannot relieve as easily as it used to.

Indeed, the manipulation and suppression of the gold price depend on a certain number market participants being deceived all the time. If manipulation and suppression did not depend on this deception, governments and central banks would proclaim their gold price suppression every day.

This manipulation and suppression also depend — perhaps most of all — on the dignity of mainstream financial news organizations. They can overlook market rigging by governments and central banks and maintain their dignity only if it is not officially acknowledged. Mainstream financial news organizations will never pose to governments and central banks any critical questions about market rigging or anything else, but if the rigging ever was officially acknowledged, the news organizations would lose too much face by not reporting it. Word would get around among journalists themselves and market participants and before too long and what remains of the credibility of the news organizations would be shot.

So with their gold market rigging governments and central banks now are enjoying the benefits of both suspicion and ignorance. Market participants who are suspicious of intervention stay out of the gold market, and market participants who are not suspicious stay in it, get fleeced, and in getting fleeced help governments and central banks publicize the manipulated and suppressed prices.

That’s why exposure of government and central bank intervention in the gold market and other markets remains the prerequisite of ending imperialism and restoring limited and accountable government, free markets, fair dealing among nations, and democracy.

That exposure is GATA’s work and the basis of our appeal for financial support:

http://gata.org/node/19134

\Please consider helping us.

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

end
USA gold’s views on gold and silver:
(courtesy USAgold.com)
USAGold’s ‘News & Views’ letter for June

Submitted by cpowell on Mon, 2019-06-10 18:23. Section: Daily Dispatches

2:25p ET Monday, June 10, 2019

Dear Friend of GATA and Gold:

USAGold’s June “News & Views” newsletter has commentary about gold’s upward breakout, billionaires who see virtue in the monetary metal as an investment, a new book by Jim Rickards, the Malaysian prime minister’s musings about a gold-backed east Asian currency, and more. The June issue is posted at USAGold here:

https://www.usagold.com/cpmforum/newsviewsjune19/

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

end

Demand for silver jewelry in India and the uSA increases dramatically and this is the reason we are witnessing hug importing of silver into India.

(courtesy Ghosal/Economic Times)
Premium on silver doubles due to weak supply

The current gold:silver ratio is expected to give a push to silver prices in the coming weeks.

By Sutanuka Ghosal, ET Bureau Jun 11, 2019, 10.21 AM IST

Kolkata: Premium on silver has doubled in the Indian bullion market in the past one week as supply has fallen due to aggressive buying by China, which is buying the metal for industrial usage. Also, the demand for silver jewellery from the US has pushed up the demand for the metal in India, which has witnessed a massive 186.23 per cent jump in silver jewellery exports in April 2019, compared with the same month last year.

The current gold:silver ratio, which stands at 90, is expected to give a push to silver prices in the coming weeks, feel analysts. The ratio measures how many ounces of silver it takes to buy an ounce of gold. On Monday, gold was hovering around $1,328 per troy ounce, while silver was trading at $14.98 per troy ounce.

“There is every possibility of silver prices going up any moment. The metal is underpriced and it can rally in the coming weeks,” said Gnanasekar Thiagarajan, director, Commtrendz Research.

“The metal is hovering between Rs 36,500 per kg and Rs 37,000 per kg. There is more or less stability in price movement which is attracting investors,” said Mukesh Kothari, director, RiddiSiddhi Bullion.

Washington-based The Silver Institute has predicted sentiment to be more supportive of the silver market this year. Silver demand for industrial fabrication, responsible for approximately 60 per cent of the total demand, is forecast to rise modestly this year.

Silver demand from brazing alloys and solders as well as electrical and electric applications is expected to rise again this year. This is on the back of continued demand from the automotive sector.

The photovoltaic demand is expected to rise too, the institute said. Even with legislative changes in China, coupled with global overstocking and continued attempts at thrifting, photovoltaic demand will still be very supportive of silver usage, as many governments will continue to install more solar power. The institute said India is expected to continue to be one of the largest silver consumers in 2019. Silver import reached nearly 225 million ounces (around 700 tonnes) in 2018, which is 35 percent higher than 2017.

Jewellery demand is expected to record a solid year of growth in 2019, according to the Silver Institute’s report. In the US, silver jewellery will remain a popular alternative to lower cart gold, driven by many issues. Globally, silver jewellery is expected to continue to expand due to its diversity of design, fine quality and excellent retail margins.


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China’s Rare Earth Monopoly Is Diminishing

Some while ago, precious rare earths important in the production of microchips, electronics and electric motors were almost exclusively sourced in China. However, as Statista’s Katharina Buchholz points out, in recent years, several nations have picked up production again while new players entered the market, diversifying it at least to some degree.

Yet, China was still responsible for more than two thirds of global production, according to the U.S. Geological Survey. But as many countries are wary of depending on China, especially when it comes to technology products, countries with rare earth deposits are likely to exploit them further.

China also has the largest known deposits of rare earths, but Brazil, Vietnam and Russia also have a lot of (largely) untapped potential in the sector.

The United States, together with Australia, emerged as a major producer of rare earths after 2010. The country, which has produced rare earths before for military uses, got back into the market as rare earths were getting more important as a part of the implementation of crucial technologies.

end
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Dollar Dumps To 2-Mo Lows As China Trounces Kudlow’s Stock Bounce

This just seemed appropriate…

MMGYS

MMGYS

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Dollar Dumps To 2-Mo Lows As China Trounces Kudlow’s Stock Bounce

China saw another epic night of buying with tech-heavy indices now up 5% this week…



European markets extended on from China’s gains until US cash markets opened and then they faded…



The overnight gains in US equity futures were sold at the open, erasing the day’s gains and yesterday’s gains before a Kudlow-fueled bounce…

1245ET TRUMP SAYS HE IS THE ONE HOLDING UP CHINA TRADE DEAL

1330ET “Release The Kudlow”

'Kudlow U S will maintain a 3 % growth pace this year'

1410ET Which was quickly countered by Chinese Media, stalling the Kudlow bounce: Hu Xijin

“From information I have access to, there is no sign that China is relaxing its countermeasures against US trade war. Chinese basically have no trust in the mild signals the US side sent occasionally. Will there be a breakthrough at G20? I dare not be optimistic at this moment.”

Every effort was then made to get The Dow green for the 7th day in a row (longest win streak since May 2018) BUT THAT FAILED at the last second…




Nasdaq was unable to hold above the 50DMA again and The Dow found support at that level



Another big short-squeeze at the open and another big fade after Europe closed…



It would appear the tech bulls have completely forgotten about the anti-trust issues hanging over the tech giants’ heads…



As Bloomberg’s Luke Kawa noted today, tech bulls might want to pay attention to remarks out today from Makan Delrahim, Assistant Attorney General for the antitrust division of the DOJ. Because that regulatory risk isn’t going away. Delrahim name-dropped Google a few times, and not in a particularly favorable light.


BYND blew up – plunging 25% after JPM’s downgrade slapped reality into the market



VIX continues to decouple from the underlying index…



Bonds and Stocks remain decoupled also…



Treasury yields were notably quieter today with a mixed picture (curve steeper with short-end notably underperforming the long)



30Y Yields shifted back into their recent range…



The curve steepened but remains inverted for the 14th day in a row…



The Dollar dumped to its lowest since 6/17 – erasing gains since the April Fed Minutes – after Trump slammed the world’s currency manipulators for devaluing against the dollar…



Another threat from the PBOC to Yuan shorts overnight prompted a spike in the Chinese currency… to 2-day highs…



Cryptos broadly drifted lower but Litecoin spiked once again…



Copper extended its recent gains on China “growth” measures, but WTI dipped intraday (ahead of tonight’s inventory data). PMs were very modestly higher…



Gold remains above $1330…





Finally, as Bloomberg’s David Wilson reports, anticipation that U.S. stocks will rise once the Federal Reserve begins reducing interest rates is at odds with recent history.



Data compiled by CFRA Inc. show the S&P 500 Index fell 12.4% in the first six months after cuts started in 2007. The drop broke a post-World War II record of 9.5% set in 2001, when the central bank’s previous series of reductions got under way. Declines in the S&P 500 also followed moves toward lower rates that began in 1960, 1968 and 1981. Another setback may happen this time “if the Fed decides to cut rates prematurely,” Sam Stovall, CFRA’s chief investment strategist, wrote Monday in a report.

end

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Read more Harvey here......
https://harveyorganblog.com/2019/06/11/june-11-gold-up-1-65-to-1325-50-silver-is-up-10-cents-to-14-76-dept-of-justice-releases-a-letter-sent-to-nadler-stating-their-probe-will-be-far-reaching-more-swamp-stories-for-you-tonight/



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click top part of videos for links
tonight's show simo casted on M+M & Captain's Quarters boards

[goforthebet]

wow Bob, glad to see you back!! I tried to contact you several times, tired everything but without success. I am very happy to hear from you and hope that your years of suffering are soon over and you recover completely. Wish you all the best, cheers, E

[JD400]

Three Reasons: The Gold Rush

MMGYS-day off

Well sorry but I'm still in Welcome Back Mode

Welcome Back cork

We missed you so much <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3<3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3 <3

[Dr. King Schultz]

Hello Bob, WELCOME back to the board!
It is nice to see you're still around - you are one of the "good ones" in this world...

Cheers
Jack

[123tom]

Jeepers, I'm only 4 months late

to say hello

and welcome back,Bob. I hope youre feeling better and glad to know youre still with us... and well enough to give us hell.

Tom