The global seas of currency are starting to storm up - J. Johnson's Latest 8/27/18
Good Monday Morning Folks,
We start our new week off with Gold trading at $1,211.90, losing $1.40 off of Fridays close with a price range between $1,214.70 and $1,209.30. Silver is barely down as well with its current price at $14.875, losing 2.6 cents with a high at $14.95 and a low at $14.82 so far this trading day way before 6am pst. All this is happening with London supposedly on holiday (cough). The US Dollar is equally uneventful with its value at 95.02, down 4.8 points with its high at 95.23 and the low at 94.90 as the 9500 Maginot line is once again crossed.
The last days of the August delivery cycle for Silver is upon us with the OI numbers still at 23 which means the posted 20 volume of Friday was an immediate request for physical to the tune of 100,000 ounces as we see no volume posted so far today. I wonder if FIFO (first in first out) is the process for the deliveries, they should be, but? Silver’s overall OI still remains quite elevated with the count at 242,296 contracts losing only 276 obligations during Friday’s most excellent 29 cent+ move higher. Tomorrow is the last trading day for Sept Silver Options and Wednesday is the last trading day for August deliveries which also brings us to the First Notice Day for the September contracts coming this Friday. With the Open Interest at this level and the current price being what it is, the next few weeks actions should be quite telling.
Hopefully you had the chance to see and hear Jim Sinclair, Bill Holter, and Greg Hunters, interview yesterday as it seems the entire main stream media apparatuses refuse to go where we do because they are the part of the failed system that is being fully exposed. We should all be looking at this conundrum as being another indicator that we are on the right side of everything. Main Stream Media never tells the truth ever!! So why would they start now? Someone else within the social media and outside the main stream added the claim (after listening to this report) that the entire currency world IS Venezuela, and that is a correct addition if we are willing to look and see what happened just before Silver and Gold blew through all resistance as their currency fell into the abyss. Btw, Jim looks really great, healthy as can be.
Italy is still making news as they continue the EU divorce as best they can as the "self-disintegrating" European Union continues to blindly move ahead into oblivion as the Italian M5S leaders claim “why are we still here? The only thing keeping us tied is the common currency.”
Turkey had it’s one week holiday only to come back into international trading with its currency losing another 4% as well as their 10 year notes on their way to reversing higher than 22%. Yes sir, the perfect storm is building alright, maybe it’s time to batten down the hatches, because the global seas of currency are starting to storm up in such a way that if one is not secured, they will be remembered and talked about, among the living.
On this side of the world we are still hearing about the NAFTA (without Canada) Mexican deal as the old regime attempts to solidify agreements before the new administration comes in. I still think this is a nuthingburger, we shall see as time rolls forward and the truth becomes more evident.
Again, the global seas of currency are starting to storm up, so keep your metals in hand, watch the currents and storm clouds gather, and as always …
Stay Strong!
J. Johnson