Good Wednesday Morning Folks,
We start the day off with red across our entire board of focus here with Gold down $2.40, once again trading below the golden Maginot line, at $1,199.80 within another tight trading range between $1,203.90 and $1,197.60. Silver really wants to go green here as the December contract now sits at unchanged with the trade at $14.15, down 3/10ths of a penny with its range so far between $14.235 and $14.115. The US Dollar is valued at 95.17, down 5.5 points with its high at 95.27 and the low at 95.015 so far today, sometime way before 6am pst.
Sept. Silvers delivery demands shows an increase of 10 with the Open Interest now at 462 contracts waiting for receipts and a volume of 31 so far this morning. Ag’s overall OI gained 1,543 contracts with the count now at 209,488 overnighters proving the algos had to add more shorts in order to keep Silver down on what is now called "Patriots Day" here in the United States. It is very typical for the media not to report something as Patriotic as this gesture is to those that have lost family and loved ones because it came from a non-politician like Trump. Man, I love this president!
Italy got a temporary bounce in its debt instruments after a week’s worth of no news as the 5 star movement moves forward with its plans to separate itself from the failures of the northern gang of central bankers as the push against higher rates forces out the weaker shorts in the trade. With the bounce up like this chart shows (within the posted article), it looks like a great place to start shorting again till we see another new low.
The news seems to be thinning out these early mornings as we look for more data that may help others figure out what the affects will be when the currency of the western nations fails. We found a site that shows the value of everyday foods but only in the nation’s currency after the collapse not before. When one uses this site to see what the costs are in US Dollar terms, it falsely removes the fear because it posts a Big Mac Meal Deal at Bs 534,547 or $2.68 in US Dollar. The issue is the Dollar hasn't collapsed yet and therefore the inflation cannot be seen. In our twisted ways of calculating we came up with $10 an egg and much higher, and this rate gyrates a lot because of the currency swings. People need to understand what is happening but getting exact data in a world where media hides everything makes it difficult to say the least.
The idea of buying what you need way ahead of time is still something we can do for ourselves. Buying canned meats and various other forms of long term food storage is something I have always done. My hope is the people of our nation wake up before the currency collapse occurs and starts storing foods and necessities before we start seeing $120 for a whole raw chicken or $30 for a single egg (Weimar style spending). Venezuela witnessed a quadrupling of costs within the first drop in its currency value just after this past January. Here we are 6 months later and the currency continues to lose value forcing prices even higher. This isn't fear porn, this is fact, when a currency fails, everyone pays. Having precious metals and stored foods NOW will help as the costs blow past all previous moves as the failures of fiat escalate. So HODL, Gold, Grub, and Guns, keep a positive attitude, and as always …
Stay Strong!
J. Johnson