Nothing seems to shake the fake in market confidence

     Good Morning it’s Friday 13th,     

    We start off our early morning trade sometime before 6am pst with Gold trading $8.90 lower at $1,237.50 as the usual Londonian Bop is applied forcing a lower open for the US consumers to ponder. The low of course is right next to the current price at $1,236.20 after the high of $1,248.50 was made during the Asian trade as the pressures being applied will not subside until the very last ounce can be used to leverage a 400 ounce bar at Comex Paper. Silver is also being checked in the early morning trade with its price at $15.795, down 18.2 cents but 9.5 cents off the low with a high at the banker created line ($16) in the sand at $16.015 before being pressed lower. The Dollar is higher by 36.1 points at 94.92, of course close to the high at 95.00 after starting off at the low of 94.565.     

       July Silver’s Open Interest is now at 694 contracts (3,470,000 ounces) a drop of 25 delivered obligations with a volume of 4 so far as the market forces are showing no problems with any delivery issues at all yet the London EFP transfers say something else completely. The overall Open Interest in Silver gained 439 contracts and is now at 208,550 as nothing seems to shake the fake in market confidence yet we know the coating of paint has not dried and the stink from the fumes tell those observers that something is truly amiss.    

 Bitcoin has gained $56.23 overnight with its trade at $6,262.41. Ethereum’s trade is also posting a green shoot gain of $5.42 with its trade at $439.15, and Litecoin’s trade is at $77.33, a gain of 60 cents. News wise we have the IRS claiming to be teaming up with a few other nations to introduce a way to tax crypto traders. This may be a good idea but seeing how Trump is not being cow towed in anything when it comes to the G6 gang, it is hard to believe this will have joint cooperation, especially when this can be used as another “art of the deal” maker for later. Then there’s India, the first experimenter to remove paper currency for digits; a true experiment in backfire, is claiming that cryptocurrencies will be treated as a commodity, just like the CFTC claimed as well but with this strange caveat; “treating cryptocurrencies as commodities would clearly demonstrate to investors that crypto is not real currency” and yet ALL currencies are traded in the Commodities and nowhere else. Go figure!    

  Italy’s weekend has finally arrived as the Italian Interior Minister Matteo Salvini heads to Russia for talks on real important things like Soccer and not about trading with the Italian Lira as Italy makes another attempt at divorcing itself from a one sided EU relationship. At the same time, former Italian politicos, who thought their retirement packages were secured, just got a reduction notice in the mail as the 5 star group keeps a campaign promise, doing unto the doers as they have done unto the masses … God I hope this spreads far and wide!! If this wasn't enough Italy is also saying “Nyet” (Russian for No) to any deal with Canada and they have promised the people they will remove any official who attempts to defend the Comprehensive Economic and Trade Agreement. Yup, nothing but agreements popping up everywhere.       

     Yesterday’s Peter Strzok hearing was chock a block full of intrigue and position squaring when it comes to the left vs right (or Mad Magazines comical “Spy vs Spy”) as it is quite obvious to any observer that the leaders of the FBI are doing their best to not tell anyone anything (that would incriminate themselves). They claim privacy for an ongoing investigation and they do have guilty pleas inside the Trump team but at the same time the constant “I am not biased” …”even though I hate Trump, he’s an abomination to our country and everybody knows how I feel” …but… “I don’t know how anyone else feels” and “just because I spewed crap like this to my girlfriend while I cheated on my wife”,  gives everyone that comforting feeling the Strzok can be trusted, with nothing! It became quite clear that Peter Strzok was the final decision maker on who can see his, as well as others, text messages, but also refuses to allow his personal text messages from his personal phone to be viewed. Guess what? They will be now!  

    For now, it seems that nothing can shake apart the control of the Algo trading platforms that have taken over all trading. However, with all the wranglings going on everywhere, I for one, am glad many have taken the suggestions of getting out of the markets and holding something tangible like Silver and Gold instead of trusting a system that does not move no matter what happens. This should be scaring everyone but the media,  is a very successful tool in keeping the sheeple sheepled.  Enjoy your weekend,  HODL your metals,  and as always …   

Stay Strong!

 J. Johnson