Closing out the Triple Witch Week - J. Johnson's Latest 6/22/18
Good Friday Morning,
We start our last day of the Triple Witch Week with Gold moving higher with the price now at $1,271.50, $1 higher inside a $5 trading range between $1,273.10 and $1,268.40 sometime before 6am pst. Silvers trade is now at $16.50 (Sept contract) with a high so far at $16.535 and a low of $16.385. We start quoting the next month’s contracts when the Open Interest in the previous month (July) falls below the next traded obligation (Sept). In other words, we always talk the price that has the largest Open Interest. The US Dollars trade is now at 94.25, down 15.4 points after being knocked down to 94.095 with a high at 94.55. Admittedly, this is an odd week because most of the time, precious metals get whacked on these last trading days during the bankers inventory check and balance week. The tactics were changed for some reason forcing the metals lower last Friday. Odd imo and maybe proof of the price hex being removed (let us pray).
Speaking of Open Interest, June Silvers receipt obligations are still at 1 but with a volume so far of 6 which means our buyer(s) are still in need and are not hesitating one bit to keep on adding more and more. Silvers over all OI is now at 219,697. A gain of 1,591 contracts in order to keep things stagnant.
The cryptos are taking it on the chin again with Bitcoins trade at $6,371.31, a drop $371.29 from yesterday morning. Ethereum’s trade is at $487.03, down $48.73 and Litecoins trade is at $88.88 a fall of $7.88. This drop in value has been attributed to another banker claiming blockchaining is too primitive to be used. With cost cutting everywhere in order to make a profit, one has to consider the evidence that the only thing primitive is the fact that the fiat currency system, is no longer quick, cost efficient, nor trusted, especially when the banks have court approved rights to take your money if their careers or trades, are in jeopardy. Another crypto note to add is now Congressional Critters must report their Crypto holdings if they are over $1,000.
Italy is still making waves along its borders as they too attempt to regain their freedoms from oppression and forced immigration policies of the EU as the nation continues its attempted divorce from a relationship that refuses to listens and the judges who are siding with the EU. As a reminder, the nation is not the only one wanting out and all of this spells the end of their international currency, in short, the European Union’s attempt to one world currency itself .. failed, or is at least losing their debt burdened support.
US Politics is really starting to heat up as we now see the FBI’s number one traitor, Peter Strzok lost his security clearance and is now working for human resources, how proud he must be right about now. There are reasons why this clown has not been fired yet, but for now, this demotion is simply the continuance of law and order coming in and cleaning house in a slow and methodical way.
All has been saved! The Federal Reserve has blessed us all with their claims that All 35 Banks Will Be Fine If Stocks Crash 65%. It sure is a comfort to know they will be fine with your money. What they don’t say, is if you will ever have the chance to recover your money from them, if the market falls 65%.
We are prepared as we continue to HODL our metals during this worldwide political turmoil that will surly affect all markets in the future. Hopefully our writings have encouraged you too, in gaining more and more physical precious metals, and get out of the failed system surely set to correct. Have a great weekend, HODL as much as you can, and as always … Stay Strong!
J. Johnson