Great and Wonderful Thursday Morning Folks,
The Monkey hammer is out with the beatings continuing till morale is improved with Gold down $9.40 at $1,304.50, right beside the low at $1,304.20 with a high at $1313.10. Silver seems to always lead the downside when the shorts force the issue with its trade at $15.04, down 20.4 cents and is the low with the high at $15.215. The US Dollar is not getting much of a boost from this push as the trades value is now pegged at 96.65, up 9.2 cents with the usual caveat, right at the high of 96.665 with a low at 96.50. All of this is done way before the Comex Open and 5 am pst. In Venezuela Gold is now pegged at 13,028.69, proving the markets took back 30.97 Bolivar with Silver at 150.212 Bolivar, losing 1.89 overnight.
April Silver’s Delivery Demands got an extra boost in purchasing yesterday as another 18 lot was added to the fray, yet the numbers on the board do not show the additions to the delivery count, with the April OI still at 16 demands for physical and with a Volume of 1 up on the board so far this morning. It is apparent purchasing doesn’t matter until they have nothing to deliver, so we’ll keep an eye on the numbers and report till our markets make the corrections of a life time. If this type of delivery issue is not evidence enough to prove purchasing at Comex no longer gives a real price discovery, then maybe the constant increase in the Overall Open Interest will help prove our accusations as the OI continues to climb with the count now totaling 212,971 Overnighters. The shorts added another 3,981 more positions to stay the price even though a larger purchase than was already scheduled was placed and settled. This game of more buying making prices cheaper, should not last much longer.
The past couple of days had lots of FOMC data and British BS to cloud the airwaves, but there was also more discovery presented providing evidence that the past administration was doing illegal spying on Americans because of party affiliation as Attorney General William Barr admitted on Wednesday that the Obama administration 'spied' on President Trump, and has vowed to get to the bottom of it. After yesterday’s finale with Maxine, friends, and AG Barr, Q posted;
3311 Q!!mG7VJxZNCI ID: 21af99 No.6121936
Apr 10 2019 11:59:08 (EST) https://www.foxnews.com/politics/doj-watchdog-fbi-informant-in-russia-probe
Then Julian’s arrest became real; UK arrests WikiLeaks’ Assange at Ecuador embassy in London. Lots and lots of intrigue fit right here as many consider Julian a truth seeker and evidence producer of a criminal element within our government that later was called Deep State. His lawyer, Jennifer Robinson, said in (a) tweet that he had been arrested for breaching his bail conditions and in relation to a U.S. extradition request.
Ironically or not, this weekend has a plethora of things to point to with the Brexit now being MayDayed out to Halloween (Go British Parliament!), and Assanges trip back to the USA, and this emailed notice sent by the FDIC posted on April 9th, 2019 titled U.S., European Banking Union, and UK Officials Meet for Planned Coordination Exercise on Cross-Border Resolution Planning here is the story;
“WASHINGTON— Senior officials representing resolution, regulatory and supervisory authorities, central banks, and finance ministries in the United States, the United Kingdom, and the European Banking Union will hold a meeting on Saturday, April 13, as part of a series of planned exercises to enhance understanding of one another’s resolution regimes for global systemically important banks and strengthen coordination on cross-border resolution. This meeting builds upon two prior exercises in 2014 and 2016. The exercise is planned to coincide with the annual international meetings in Washington sponsored by the World Bank and International Monetary Fund. The Federal Deposit Insurance Corporation will host the exercise. Other senior officials from the United States are expected from the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Federal Reserve Bank of New York. Expected participants from the European Banking Union include senior officials from the Single Resolution Board, the European Commission, and the European Central Bank. Expected participants from the United Kingdom include senior officials from HM Treasury, the Bank of England, and the Prudential Regulation Authority.”
We’re not sure of anything these days except that the precious metals are being worked over hard and hung up wet with a “concentrated over bearing short trader”, a large bank accused in a court of law of manipulating just about everything with other major international bankers catering to the illegal activities abroad, and then this “U.S., European Banking Union, and UK Officials Meet for Planned Coordination”, are they all tied together? We think so and in strange ways too.
The situation we are all forced to deal with is unwinding, slowly, but surely. The outcome is obvious, the currencies of the majors are going to be beaten worse than our precious metals have been over these past 7 years, but in a much shorter period of time. There is nothing to worry about if one holds precious metals outside the system bound by politicians, banks, and exchanges, due to fail in time or may be failing now. So keep your precious metals close, hold on tight to that positive attitude, and as always …