Britain Britain Britain 3 more dates and still no deal
Good Thursday Morning Folks,
Gold is flat to lower this morning with the trade at $1,285.40, down $2.40 as the trading range remains tight with the high at $1,289.10 and the low at $1,280.80. Silver is equal, in the not moving anywhere category, with its trade at $15.08, down ½ a penny with the high at $15.13 and the low at $15.03. Even the Dollar is nowhere with its value stuck at 96.88, up 8.1 points within a trading range between 96.885 and 96.765. All this non-trading being done way before 5 am pst and the Comex open. In Venezuela, Gold’s price is now worth 12,837.93 Bolivar losing another 20.98 overnight with Silver priced at 150.612, losing .349 of a Bolivar as well.
Even though the prices of precious metals are stagnant, the deliveries are far from being boring with the March Silver Delivery process proving 352 Obligations where settled out during yesterday’s trade with the count now at 554 Demands for Physical remaining in Q with a Volume of 4 up on the board so far this morning. Silver’s Overall Open Interest showed a gain as 1,485 more contracts being added during yesterday’s trade in order to stay the 2 penny close.
Supposedly, anger is at boiling point in Britain. Demonstrators are taking to the streets in growing numbers. Belief in the value of voting is being eroded day by day, and the murmured chatter in back rooms and bars across the nation is one of disgust and righteous indignation. When change fails to come through the ballot box, the nation will fall to chaos, and the social contract may be irreparably broken. On March 29, The tentacles of the unelected bureaucrats of Brussels threaten to unravel British democracy…it seems that elected members of Parliament are determined to override the will of the British people in a capitulation that will mark the death knell of their freedom. Maybe by March 30th, the Yellow Jackets will be flooding England too.
Teresa May is expected to lose by up to 100 votes when (the) British politicians decide on March 12 whether or not to sign her divorce terms into the U.K. statute book … That would pave the way for U.K. parliamentarians to either opt to crash out of the European trading bloc without a deal in a vote on March 13, or seek to delay Brexit in a vote on March 14. But these votes could be delayed if May decides to try for a third time to get her deal passed in parliament. The U.K. is currently scheduled to exit from the EU with or without a deal on March 29. 2 ½ years after the British people voted, Britain has 3 more dates and still no one representing them in Parliament.
We seem to be in a sideways pattern of consolidation (for years now). There are many points of reason to be out of the global monetary system and into hard physical assets until equilibrium is found. By the time that balance happens, precious metals prices could be in the stratosphere up by Venezuela’s Bolivar price or even Weimar’s, no one really knows for sure. So we hold onto what we know has worked for centuries while the bankers and politicians carry on misleading their voters as we wait it out. So hold on to your metals, keep a positive attitude no matter what, and as always …
Stay Strong!
J. Johnson