Great and Wonderful Wednesday Morning Folks,
Gold is lower in the early morning trade with the price right now at $1,251.50, down $2.20 inside an under $5 trading range between a high of $1,255.30 and a low at $1,250.60. Silver is trading at $14.715, up 1.4 cents inside an equally tight trading range between its high of $14.79 and a low of $14.70. The US Dollar is trading down 25.5 points with the value pegged at 96.315, with a high at 96.44 and a low of 96.22, all this being done way before 5am pst. In Venezuela gold’s price is currently trading at 12,498.36 Bolivar, down 2.99 over the past 24 hours with Silver’s price valued at 146.816 Bolivar, unchanged over the past 3 trading days as the precious metals trading ranges under the US Dollar and the Bolivar prove to be getting tighter and tighter.
The December delivery cycle is coming to an end with the demand for physical now at 257 contracts waiting for receipts. Down 34 obligations from yesterday’s count with a volume of 35 posted on the board this morning. Silver’s Overall Open Interest is unchanged from yesterday at 173,007 overnighters still holding on for dear life. Unchanged OI is something I've never witnessed before and I had to do a recount to make certain. It seems everyone is waiting for the FOMC data coming out today.
England is heading our overseas news topics this morning as Teresa May is once again addressing parliament “Live” about the BREXIT. As parliament gets all blathered up, the PM has placed 3,500 Troops On Standby, and is preparing Reserves Space For 'Emergency Supplies' As May Ramps Up the 'No Deal' Planning. All of a sudden Jim Sinclair and Bill Holter’s suggestions over the years, of stocking up on food and supplies, is making its point, in hard fashion.
All over Europe, the Yellow Jackets are covering so much ground I wonder if it’s possible to see the color yellow from the international space station as this article helps us understand the nations covered in yellow coats show how this populist movement in 2018 enveloped Europe. Videos abound here and the grass roots uprisings are still something to behold.
Supposedly Italy has presented an agreement that the EU grasped at right away at the same time confirming the E-Union will abandon its plans for an "excessive debt proceeding" against Italy. After all Macron helped expose the bias treatment of the lesser nations, who seem to have a different set of “rights” than others. The article claims this may have stopped the “Italeave” but, we don’t think so. These lesser nations (based on tax revenues and populations only) are fighting against a foreign governing body, all this is, in our opinion, a stall tactic till the Italian Lira (blockchain?) is brought back.
Belgium is back to doing what it does best: running without a government. On Tuesday the Belgian Prime Minister Charles Michel became the latest political figure to fall after he tendered the resignation of his government when his liberal-led coalition lost its parliamentary majority and an appeal to lawmakers in Parliament failed to garner backing for this minority administration. It seems the plague of socialism continues to lose support of the majorities as common sense comes back into the folds (Thank God).
On another note, Blythe Masters, who previously worked at JPMorgan for two decades and was considered the queen of the credit-default swaps, is stepping down from her job as CEO of the blockchain startup Digital Asset Holdings. Is she done with cryptos, or is it time to see blockchain being introduced into the banking system in a huge way? Or it she stepping down because of her involvement with the Silver manipulations that became public when Deutsche Bank admitted to manipulating precious metals and specifically fingered JP Morgan with a broker/employee admitting he was taught and instructed to manipulate at the same time Blythe was JP Morgan’s Commodities desk queen? I hope it’s both, we can use the forensic blockchain verification process in all things money, and I would love to see her answer the questions about her involvement in this global heist of an entire sector of commodities, under oath.
The points are clear, things are coming unglued, and it’s spreading everywhere like a freedom virus. Jim and Bill’s warnings of buying and stocking up on foods and necessities, has a nation doing it NOW! Are you prepared? There still is time if you are not. So, have a great day, keep a positive attitude no matter what, and as always …
Stay Strong!
J. Johnson