Good Monday Morning Folks,
Gold is flat to lower in this very early morning report with the trade at $1,252.20 lower by 40 cents inside a very tight trading range between $1,256.60 and $1,250.70. Silver is not as tightly wound with its trade at $14.635, down 6.1 cents with a range so far between $14.735 and $14.605, all this done some time way before 5am pst and before spell check or grammar check can wake, we apologize now. The US Dollar is still getting the support it needs to stay up in value with the trade at 96.63, up 15.4 points with a high at 96.70 and the low at 96.325. Our Venezuelan experiment may have a glitch in it with Goldbroker’s currency page showing Gold’s price under the Bolivar now at 309,907,000 Bolivar (VEF), gaining 1,531,200 over the weekend with Silver at 3,619,160 Bolivar (VEF) gaining 17,400 during the same time period. The issue maybe between the old Venezuelan currency value and the newer value. We decided to go to another page to do a check on value which helped us figure out this issue. In this web site we see a currency converter and we typed in the value of Silver and put it under the VEF and came up with $14.50 US Dollar = 144.819(VEF). When we convert the value to the other Venezuelan currency appraisal, we get $14.50 US Dollar = 2,728.32VES. What may be the issue here is the VES/VEF are mixed. So we’ll quote both appraisals since the currency was revalued over the past year and it may be relevant if we go thru the same devaluations as well as the loping off of zeros from the right.
The physical deliveries mean everything in commodities and the Silver count for Christmas continues with the Open Interest at 630 contracts with a volume of 5 so far this morning. The Overall Open Interest numbers won’t be updated till later today but the count continues to drop ever so slightly with the early morning numbers at 178,358 losing 60 before the count was stopped on Friday.
France is upside down right now with all the protests and riots being on the front page of the world’s news services. There are several instances where people were hurt and admittedly it pains us to see this but the fault lies directly on the leadership and they are in real trouble because the Yellow Jackets (I like Jackets better than Coats) are everywhere in Europe and now the EU has it’s army in France as we wonder how far the spread is between the support of the military throughout all of Europe? How many of the military support the Yellow Jackets? After all military families are everywhere and these are the people that fill the boots on the ground. The French government is just about finished but there is a few more months of churn before the media will agree, and it is obvious this loss of a tax collecting nation that supported the EU-Currency and Union is the only topic in the failing leadership. Knowing how these bankers and deciders think, they will simply add the tax loss to all the nations that are left in the union and they still might have England to add to the list.
It seems Englanders still have to deal with their European friendly deciders as these elected officials cannot allow a Brexit even though it was voted upon and demanded by the people who vote. Teresa May and friends have put themselves up against their populace and they are certain (ok praying) the subjects of the land will only get upset but not as unruly as the French. It’s the deciders against the population and ultimately the population wins but only after the leadership realizes their army won’t go against their own families. Now we see another delay in their game, which sounds as familiar as getting team Hillary into court.
Another surprising banker story is India’s central bank governor Urjit Patel unexpectedly announced his resignation today after being “in the chair” for just over 2 years. The claim is all about the independence of the central bank, but it is the “gang of Independent central bankers” around the world, that team up against all the nations they govern to extract that wonderful elixir they need to survive called “fees” they obtain thru lending. I can’t help but think about India’s reduction in their fiat paper notes and the first attempts to make the jump to cryptos a few years back. Something is changing inside the bankers arena, and it seems the banks are getting antsy.
We see nothing but population upheavals around the world and still we have a stagnant price in the real money arena called Silver and Gold. The bank canopy is shaking and cracking and the populations they manipulate are on the verge of getting crushed via currency devaluation as nation’s find newer agreements as they attempt to calm their people. Good Luck with that! Still there is no better place to keep ones savings than in the hand and in precious metals. The banks most likely will not allow anymore physicals to be taken out while the unrest is everywhere. So Keep your metals close, keep a positive attitude no matter what, and as always …
Stay Strong!
J. Johnson
