Great and Wonderful Tuesday Morning Folks,
Today Gold is being attacked because it is the barometer of the world’s economy and the money printing cartel is yelling loudly that all is well with the trade now at $1,312.50, down $10.10 and at the low of $1,312.10 with the high at $1,323. Silver is following along with its trade at $15.43, down 13.7 cents and as usual, right beside that London Bop low at $15.42 with the high at $15.56. Today London has another solution excuse, and May be only good for a day, with the US Dollar trading flat to lower with the value now pegged at 96.025. It too is trading down 4.3 points with the high at 96.115 and the low at 95.94. All this was done way before 5 am pst and the Comex Nap Time Open. In Venezuela, Gold is now pegged at 13,108.59 an ounce, losing almost all of yesterday’s gains by dropping 48.94 Bolivar with Silver losing .999 Bolivar (again a perfect measure) overnight helping to prove the point that the currency markets and the precious metals are the crisis.
March Silver’s Delivery Cycle is just about over with the total count still stuck at 44 Demands for Physical and with a Volume of 1 up on the board so far this morning, proving a drop of 1 with an actual count of 2 being posted yesterday before the close. Silver’s Overall Open Interest continues to expose the over-leveraging that apparently must be “secretly” legal since it’s always ignored by the regulators with the count now at 193,504 Overnighters, gaining 2,589 more shorts over Friday and Monday to stay the price from the buyers as we wait for more news from the Morgue Report the DOJ investigators have found in the international precious metals manipulations scheme.
What is NOT so surprising is the newest installation of a Brexit solution (again), introduced overnight claiming Parliament Seizes Control Of Brexit From Theresa May. Politicians taking authority away from other politicians is not something people are celebrating at all. I can’t speak for any Brits, but as an American, I’m sick and tired of hearing about Teresa May’s attempts to ignore the voters, it’s almost as bad as listening to our lady of great crimes tell us Trump colluded with Russia totally ignoring her own Uranium One Foundation evidence. How much longer must this go on? Politicians are quitting left and right in Britain, so maybe something good will come out of this May Delay.
Turkey’s currency crisis is continuing as the Turkish president Erdogan vowed to crackdown on currency speculators and launched a probe against JPMorgan for its Friday reco to short the country's currency to 5.90 vs the dollar, on Tuesday Turkish authorities took their vendetta against short sellers to never before seen levels, when taking a page of the Chinese currency manipulation playbook, they made it virtually impossible for foreign investors to short the lira. The emerging currencies are doing the exact opposite of what they are titled, they are disappearing and heading towards its natural finish line at zero, with the majors soon to follow as equilibrium forces the inevitable gravitational pull caused by the emerging currency weaknesses.
Venezuela now has Russian soldiers in their country as the nation once again goes dark as no real news is out there telling us the real skinny going on down there, but their currency is showing the mess their nation is in. In another nation under currency crisis, our Federal Reserve’s chairman, Jay Powell, has totally stopped all rising movements in interest rates and the mess is still too much to absorb as more and more questions surface as to what is going on in the background that “scared-stopped” a full percent interest rate increase almost overnight.
So far, the banker’s currency situation has stayed in place with Silver and Gold doing the same. How much longer before the currency crisis within the disappearing “emerging” currencies is anyone’s guess. But to those who hold the real, none of this matters because all the physical holders ever really need to do, is stay in place, holding on dearly to what is real, Precious Metals and the Truth! So have a great day anyway, because the crisis won’t go away till the precious metals explode in price as the currency’s rise to equal zero.