Silver’s Overall Open Interest Points the Way of the Criminals

in #investing5 years ago

 Good Tuesday Morning Folks,    

      Gold is higher again in the early morning but way off its high at $1,334.10 with the trade right now at $1,329.60 up $1.70 with the low at $1,326.60. Silver started giving its sell-signal during yesterday’s Asian trading period with the price now at $14.705, down 3.5 cents after reaching a high of $14.805 before the signal was applied with the low right close to the now at $14.695. The US Dollar took a late hit during yesterday’s trade with the value now pegged at 97.030, down 3 points after reaching as low as 96.90 with the high at 97.185. All of this was done while we sleep, with President Trump MAGA-ing in London, and before the Comex Open.     

      Venezuela’s Bolivar, the first emerging market currency to go nuts, now has Gold priced at 13,279.38, gaining another 73.91 Bolivar overnight with Silver now at 146.866 giving back some .799 of Bolivar value. Argentina, the second emerging market currency to go sharply lower and before some zeros get knocked off, now has Gold pegged at 59,658.90 adding another 465.29 Pesos since yesterday’s count with Silver at 659.845 taking back 2.066 A-Pesos of value from yesterday’s massive move. The Turkish Lira now has Gold pegged at 7,720.94, a loss of 50.72 from yesterday’s gains with Silver losing 1.6292 overnight with the going price now at 85.3938 T-Lira.     

      Yesterday’s mornings count for June Silver deliveries had a 50 marked up on the board and with zero Volume. I did not see any trades in size being applied at all during yesterday’s rally, in fact, the Volume was only at 2 most of the day but now the Open Interest in June Silver stands at 5 contracts with a Volume of 1 up on the board so far this morning proving a delivery of (ironically) 45 contracts either here or somewhere between here and the City of London. Silver’s Overall Open Interest points the way of the criminals with the count adding some 4,029 more shorts during yesterday’s trade. Imo, this is the last line of defense for the central planners and now the tally shows a total of 214,291 Overnighters helping to stay the price all the while someone is taking the physicals.      

      Yesterday, we saw another reversed spike in Interest Rates as the Fed’s St. Louis head, Jim Bullard unleashed the beast by stating “A downward policy rate adjustment may be warranted soon to help re-center inflation and inflation expectations at target and also to provide some insurance in case of a sharper-than-expected slowdown... The direct effects of trade restrictions on the U.S. economy are relatively small, but the effects through global financial markets may be larger... “Even if the sharper-than-expected slowdown does not materialize, a rate cut would only mean that inflation and inflation expectations return to target more rapidly." This little event pushed the short term 90 Day interest rate instrument to 1.5% in December 2020. That doesn't sound so bad till you see that rates right now are at 2.5% at the Fed Window proving to everyone who studies the numbers that the markets ain’t workin right. The Dollar took it in the shorts after this volley of words were added and it does seem to appear rates have reversed in a fashion never seen before. At this point, what could go wrong?     

      Our president is upsetting the applecart against this interest rate machine that has taken over all our markets by removing us from this gang of (G)7 which has 5 eyes (ThanQ) trying to control a world of bipeds that no longer like the control that has been imposed upon the masses. Voters rights are equal to Taxpayers rights, at least in the eyes of the population, and Trumps words are even appealing to the Brexiteers ears by stating in a string of tweets about his visit with a tantalizing offer: Once the UK has gotten rid of "the shackles" - presumably a reference to the EU - a "big trade deal will be possible" with the US. The two sides "are already starting to talk,". The questions are many and the answers are few, but I have to add this, are we going to see another tariff imposed if we don’t like the British deal? Q the Chinese or Mexican response …. And let us see.      

      Theresa May is just about done representing the European Union against the British people. There is only a few more days for her administration to really try and screw things up more than they have already with not only the Brexit, but the intrusions into our election, and NO! I won’t let that go at all, especially since we’ve been dealing with their intrusions since we started this country. So keep your precious metals close, in hand and away from all other investments strategies, they only add more problems to the owners when the shortages pop up. Keep a positive attitude no matter what and as always …    

Stay Strong! 

J. Johnson    

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