Great and Wonderful Thursday Morning Folks,
Our Thursday starts off with another reduction in price with Gold at $1,408.50, down $6.90 after dipping down to $1,404.10 with the high so far at $1,415.30. Silver is attempting to lead the decline with its trade at $15.18, down 11.4 cents and close to the low at $15.15 with the high not that far away at $15.275. The US Dollar is in a patterned trade that looks to climb higher but for now we’re at 95.70, down 2.8 points and it too close to the low at 95.67 with the high at 95.92. All of this was done mostly during the overnight in London, before 5 am pst and the Comex open.
Our emerging markets currency watch shows the Venezuelan Bolivar to be holding Gold at 14,067.39 losing only 5 Bolivar with Silvers price at 151.610 losing 1.548 Bolivar in the overnight. Argentina’s Peso has Gold pegged at 60,112.20 gaining 414.12 Peso’s with Silver now at 647.821 losing 1.913 A-Peso’s. Turkey’s Lira now has Gold under its trade at 8,130.90, proving a gain of 5.62 Lira with Silver showing a price of 87.6244 showing a loss of .795 T-Lira as well. It appears Gold is getting harder to control within these emerging currencies than Silver is for now, but that too will change in time.
The June Silver Delivery period has passed bringing in the July Deliveries with tomorrow being the First Notice Day, giving the investor one more day to get out of the delivery contract with the Open Interest Count right now at 14,897 demands for physical and with a Volume of 12,648 so far this morning. If the trade is anything like yesterday or the day before, the pump and dump numbers in the Volume column (in July) will triple the OI numbers as the Algo’s continue to pump and dump all the while the prices barely move.
Silver’s Overall Open Interest is showing the newly added shorts (last Friday’s additions) didn’t get as much punch as they thought it would deliver as the Over All Open Interest Count dropped 9,551 positions during yesterday’s sideways activity giving us an early morning total of 223,511 Overnighters, still in trade. Was this lifting of the shorts to offset of all those July Calls that went deep in the money the last day of trade? Moving forward, the count is still over-elevated compared to the time before the Trump Presidency, which to us, is proving the shorts are in trouble and the Resolute Longs have Silver under control. Let’s face it, if the correction doesn't get any worse than this, the Shorts (Central Algos) will have to change to Depends, and in a hurry. We still have a few more days to wait, and the clock is still ticking.
Needless to say, we are truly in interesting times. The markets we've been watching are starting to shake, rattle, and roll, and in the direction we have been waiting for. We also have this weekend’s G20 gathering and just before a partial trading week with next Thursday being the fireworks celebration of our independence, and maybe this one should be a bigger celebration because once again, we have to remove the central bank that we kicked out under Andrew Jackson’s Presidency as history continues to repeat or mirror itself in our time.
This time it appears our president has to remove a much bigger central problem because it is a gang of bankers that have been caught with lots of evidence which include all their past emails, texts, and phone conversations, which were most likely all recorded under the NSA/Google/Yahoo/InQTel/ et al, gleaned from with an article written by a real investigative reporter, that was posted on Jim Sinclair’s website; Why Google made the NSA. This read is deep, long, and thorough. IMO, this Google Group has a revolving door that swings both ways into the CIA/FBI/and their friends. Just like those revolving doors between the CFTC and the central banks, this group of regulators is to watch over. Instead the centrals use the CFTC as a way to protect their own game by allowing their brightest and most blinded by their education to regulate inside the CFTC. It appears the CIA/FBI and their new instrument Google, have the same revolving door set up. Maybe these revolving doors need to be investigated to see if these two real conspiracies are actually part of a bigger one.
All we really need to do while all this is going on, is to hold on to our physicals and to acquire more as the dips occur. The shorts have a problem, we don’t, and we have time. So hang on tight to the real, ignore the fake, and as always …