Me?? I'm Suggesting Physical Silver and Gold in Hand!
Great and Wonderful Thursday Morning Folks,
Gold is trading in the positive with the February contract at $1,481.80. up $1.60 and close to the high of $1,483.70 inside a tight $5.40 trading range with the low at $1,478.30. Silver is up 3.9 cents with the March contract at $16.955 and close to the high right at the $17 marker with the low at $16.870. The December US Dollar contract, which comes off the board on the 16th, to start the Triple Witch Week Roll Over, is now trading at 97.425, down 17.7 points, and a half a point off the low with the high still not that far away at 97.555. All of this of course, already happened before 5 am pst, the Comex open, and the London close.
Venezuela, a nation that has already crushed its currency in order to blow out all its manufacturing competition, now has Gold trading at 14,799.48, taking back 14.98 Bolivar from yesterday’s quote with Silver at 169.338 Bolivar, it too taking back 2.747 of value. In Argentina, another nation that has devalued its currency against our fiats value, now has Gold priced at 88,625.31 taking back 134.38 in A-Peso value with Silver now trading at 1,014.00 A-Pesos showing a loss of 17.03. The Lira, now has Gold valued at 8,533.65 proving a gain of 20.65 in the Turkish currency with Silver at 97.6429 T-Lira showing a loss of 1.244 in the overnight.
Red Silver’s Delivery Demands now stand at 1,002 fully paid for contracts proving a reduction of 245 as of this morning and with a trading range between $16.84 and $16.78 with a Volume of 42 already up on the board with the last trade at the low $16.780. Yesterday’s Volume exceeded the amount of Open Interest reduction in the deliveries, but I failed to acquire the final numbers before they were erased from my view. Silver would be naturally traveling higher in price if it wasn’t for these papered contracts created by the centrals in order to keep the price under control. This fact is evident with each passing day with todays Total Open Interest at 208,350 Overnighters, proving the point that 2,339 more pieces of paper had to be applied without the banks having the same restrictions on paper like the planet restricts the metal.
Germany is now charging its people and companies for having money in their checking or savings accounts. Let’s see here, negative rates, they say, is bad for banks yet they are the ones pushing this idea. I’ve joked for some time about waiting for the negative rates to go to 5%, then I could buy a house and the loan itself would pay for the house instead of me having to paying for it. What if this is the bankers way of getting out of their self-created situation yet on a much larger scale? It’s still devaluing the currency at the same time the fiat pays for all debt. This is probably way off, but what we are living thru right now, is not in any of my financial books or in history. All my books on the subject of finance has nothing, as if my education became worthless too. I truly feel sorry for anyone who got a degree in finance. Apparently, all of this is made up as we all are forced to go along. I also wonder how academia is treating this subject in today’s classrooms? But then again, why bother when I witnessed yesterdays professors explain how they hate Trump no matter what, yet they have no bias.
And again, China Repeats the US Must Reduce Tariffs For "Phase One" Trade Deal as if we didn’t hear it the first time, or the second. With tariffs in place and more coming, our president said he might wait to negotiate after the 2020 election to prove to China he is winning the next term whether they like it or not! Their interventions and their currency devaluations are well known. What is not is what we are going thru with a president that wants the nations people to have the same negative benefits other nations do. What can go wrong? I have only one answer in my mind. I’m suggesting physical Silver and Gold, and will wait and see how this all turns out for those willing to allow a few to decide the value of others retirement.
Please consider the idea if you haven’t done so already. We are in a place in where there is no other way out. Either the US Dollar gets devalued against a host of other fiats, that have already done so against our currency, or we implode because tariffs, and the spread in currencies, have no middle ground, until the end, when all currencies go to zero. So, keep your precious metals in your hand, have a smile on your face and a positive attitude no matter what, and as always …
Stay Strong!
J. Johnson