Harvey Organ Should Be An Interesting Read Today

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Wed, Sep 24, 2014 - 9:43pm
DayStar
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~~Harvey 24 Sep 2014

This is DayStar (DS) with the Wednesday Harvey Report.










News and Commentary






Mark O'Byrne (GoldCore): A Bank of America economist on visit to Venezuelan central bank last week was allowed to view the bank's gold vault and the gold repatriated by President Hugo Chavez. Is any of the country's gold encumbered, loaned or leased to Goldman Sachs or other banks? Is there a possibility of this given the Venezuelan economy's weak position? An arbitration court of the World Bank ruled that Venezuela needs to immediately repay $740 million to US mining company 'Gold Reserve'. Repayment is connected to Venezuela having terminated Gold Reserve's gold and copper mining project in 2009 as part of Chavez's nationalisation of energy and mining projects. This ruling could set a precedent for other companies to seek compensation from Venezuelan government during a time in which Venezuelan economy is weak and heavily indebted. Venezuela's international credit ratings will now be in an even worse state, as will its international bond servicing situation. Chinese have also lent to Venezuela in return for ongoing deliveries of oil. Could Venezuela now need to mobilise more of its gold again to help finance its debts? Will China seek to use its considerable financial and economic power to build a stronger economic and political relationship with Venezuela? The confiscation also highlights the risks to precious metals mining companies operating in politically unstable countries and the stock specific risk of investing in mining shares. Venezuela's gold reserves are back in focus after Francisco Rodríguez, a Bank of America economist, revealed in a client note yesterday that while on a visit to the Central Bank of Venezuela last week, his party was given a tour of the central bank's underground gold vault in Caracas and allowed to view the bank's considerable gold holdings. This includes the sizeable quantities of Venezuela's gold reserves that were very publically repatriated back to Caracas by President Chavez in 2011 and 2012.










Harvey: GLD: There was no change in gold inventory at the GLD (inventory now at 773.45 tonnes). SLV: Today we had no change in silver inventory (inventory 342.846 million oz). GOFO was positive and tending negative.




Ambrose Evans-Prichard (via Chris Powell/GATA): The stunning rise of Germany's anti-euro party threatens to paralyze efforts to hold the eurozone together and may undermine any quantitative easing by the European Central Bank, Standard & Poor's has warned. Alternative für Deutschland (AfD) has swept through Germany like a tornado, winning 12.6 percent of the vote in Brandenburg and 10.6 percent in Thuringia a week ago. The party has broken into three regional assemblies, after gaining its first platform in Strasbourg with seven euro-MPs. The rating agency said AfD's sudden surge has become a credit headache for the whole eurozone, forcing Chancellor Angela Merkel to take a tougher line in European politics and risking an entirely new phase of the crisis. "Until recently, no openly Euroskeptic party in Germany has been able to galvanize opponents of European 'bailouts.' But this comfortable position now appears to have come to an end," it said.










Lawrence Williams (Mineweb): Something strange is happening in the silver markets. While the silver price has crashed along with gold – not in itself an unusual occurrence – the biggest of the silver ETFs have been seeing very large inflows, while the gold ETFs are seeing sales. What is happening here? Surely if silver investors are piling in because they see it as oversold and at bargain price levels then surely gold investors would be doing so too? Taking SLV as a proxy for all silver ETFs it has taken in 650 tonnes since the beginning of August, while the biggest gold ETF – GLD – has bled 26 tonnes over the same period and has fallen back to a level last seen in December 2008. True, the total GLD falls this year have only been around 20 tonnes and thus only a fraction of what we saw last year, but they are falls nonetheless. The gold:silver ratio is currently sitting at close to 69 which is above the top of its recent range too. But while SLV has been putting on those 650 tonnes the silver price has come off around $3 or about 14%, but this doesn’t seem to have worried the purchasers. What do they know that we don’t? One theory is that many astute investors feel the general stock market is overbought and riding for a fall – and perhaps a big one. October has a track record of seeing these – and we are nearly there already. If there is a stock market crash there could be a turn to precious metals, and silver tends to provide far better leverage than gold in a sharply rising precious metals price scenario with the gold:silver ratio perhaps poised for a sharp change for the better for the silver investor. We’ll have to wait and see!










Manish Pachouly (Hindustan Times): About 50 tonnes of gold has been smuggled into the country in the past 10 days, and subsequently taken into the market to cater to a surge in demand for the precious metal in the festive season. There is a heavy demand for gold during Dussehra, for which booking and supply will start from Thursday, when shradh ends and Navratri starts. Market sources said that 30% of the smuggled gold has been supplied in Mumbai to unscrupulous jewelers, while the rest was distributed to different parts of the country. Sources said that illegal gold is finding a place in the market because of below average imports resulting from the 80:20 scheme and 10% import duty. Against the average monthly demand of 80 tonnes, the import is presently around 51 tonnes in the country. Sources said that gold was smuggled into the country through the land route, via Nepal, Bhutan, Bangladesh and Pakistan. "This is because airports have tightened security, restricting the smuggling of gold by the air route," said a market expert. The Mumbai airport customs, which has started a serious crackdown on gold smugglers, has seized around 529 kg gold from April to August this financial year. Experts fear that more gold will be smuggled from similar land routes in days to come, as the demand will shoot up once the marriage season begins, in the later part of November. "There will be huge demand because of the festive season, and also the low price at which gold is presently being traded," said Kumar Jain, vice-president of Mumbai Jewelers' Association. Jain said, "The government should immediately bring down the import duty and relax the 80:20 scheme, so that official import goes up. That will bring down the smuggling." Rajiv Popley, director Popley Group, said, "Smuggling of gold has been on the rise for the last eight months, due to irrational supply issues. The officially available gold was at a premium, which was higher than anywhere else in the world."










Ned Naylor Leighland (Quilter Cheviot Investment Management): Within days of the CFTC Silver ‘investigation’ finally closing in August of 2013, CFTC whistleblower Andrew Maguire’s lawyers had contacted William D Cohan, a renowned NY-based financial journalist, and had him sifting through the folders full of detailed evidence regarding the use of the dark arts in the Precious Metals market. A month later (September 2013) I was told that the mooted article had indeed been written and that it would be the biggest mainstream broadsheet in the US within 2 weeks as an extensive editorial piece. I vocally doubted that it would happen and warned Maguire and his lawyers not to rely on any mainstream publication. Cohan has since confirmed the above ‘nobbling’ to me, independent of Maguire and described his story and the clear cover-up that has followed it as ‘amazing’ and as ‘a story that needs to be told’. The importance of this Precious Metals manipulation story is that it proves regulatory collusion, cartel behaviour and the breakdown of the rule of law in financial markets.




Bill Holter (Miles Franklin): The total amount of gold "at current prices" won't cover most country's currencies, debt or even interest payments. There is either not enough gold ...or it is not priced properly to do its job? Which is it? This is why I have written multiple times about the system going through a "re set". Either gold prices need to be marked up or paper prices marked down (the same thing) in order for there to be "enough gold" to act as a foundation with any sort of thickness or stability. This I guess you could say is one of the laws of nature. A markup in gold will either be done by man in order to support his edifice of debt ...or by Mother Nature where man's paper edifice collapses to a point where "there is enough gold" at whatever "price" it happens to be at the time. This is not original thought or even close to rocket science. This has happened many times before all throughout history. The only differences between "then and now" is that this time around even (and especially) the reserve currency itself is fake, fiat and Ponzified as opposed to periphery currencies. In the old days, the peripheries were the fakes, now even the reserve currency is fake. The problem now is the issuer of the reserve currency is broke and paying out more in interest in one year than was saved in gold over 238 years! I will leave you with a thought, what if the U.S. really has dishoarded their gold in an effort to suppress the price? What if the crazy comparisons I did for you above are really just a rosy scenario and "rosy" by a factor of 10? Or by 100? Or if ALL of the gold has been dishoarded? Then what price in dollars should gold be?




Tyler Durden: In what is certainly the most important news of the day, the WSJ reports that China's long-serving central banker Zhou Xiaochuan, "the face of the Chinese economy to markets globally" is about to be given the boot. According to the WSJ, "Chinese leader Xi Jinping is considering replacing Mr. Zhou, say party officials, as part of a wider personnel reshuffle that also comes after internal battles over economic reforms." And while it is true that at the age of 66, Zhou has passed China's retirement age, and his departure will be spun as an old man spending more time with his family, the reality is that this is part of a major Chinese shift in the "balance of power between reformist and reactionary forces, with the momentum for reforms being eroded by the loss of growth momentum in the economy," said Eswar Prasad, a Cornell University China expert. Zhou's replacement: a career banker, who will do the bidding of, you guessed it, banks, which means "liquidity to the max." Per the WSJ, "The top contender to succeed Mr. Zhou at the People's Bank of China is Guo Shuqing, a former banker and top securities regulator who is currently governor of Shandong, a prosperous eastern province, the officials said."




Zero Hedge: China will never support or join recently imposed sanctions against Russia, Valentina Matviyenko, the speaker of the Russian parliament’s upper chamber, said on Tuesday following her talks with Chinese President Xi Jinping. The speaker of the Federation Council quoted the Chinese president as saying, that China will never support sanctions against Russia, no matter how much pressure is exerted on them. According to Matviyenko, China publicly stated its opinion on the inadmissibility of unilateral sanctions, their illegitimacy and counter-productivity. “This is where our positions absolutely coincide,” she said adding that both Russia and China consider such sanctions as “ineffective and view them as attempts to exert pressure on sovereign states in order to weaken them and change their positions, to restrain their development...This is China’s public position and we are grateful to China for such evaluations,” Matviyenko, who is currently on an official visit said.






Harvey: Russia has a 3 billion note with the Ukraine and it is due next year. However there are covenants which may accelerate payment. The Russians were very smart to put in a clause that if their debt to GDP rises above 60%, they can demand immediate payment. The Ukraine does not have enough funds to pay this as well as the huge gas bill of over 5 billion USA. This is the key financial situation that we must pay extra attention to.




Tyler Durden: TNT Express earlier today provided the latest confirmation of what Goldman showed previously, namely that the global economy has not only hit a brick wall, but is now in reverse, when it warned that as a result of "weak growth in Europe and the US" it would not meet its overoptimistic full-year targets. The result: its stock plunged by 11%. And since global logistics and trade, or lack thereof, is universal, expect FedEx and UPS to follow shortly with guidance cuts of their own in the coming days and weeks. "Overall trading conditions in Europe have deteriorated further and competitive pressures have increased," the company said in a statement.




Zero Hedge: A new armed group in Algeria calling itself the "Caliphate Soldiers" - a re-splinter from Al-Qaeda splinter group ISIS - has, according to AP, beheaded a Frenchman abducted in Algeria in a video posted online on Wednesday, after giving a 24-hour deadline to Paris. Herve Gourdel, a 55-year-old hiker from the southern French city of Nice, was kidnapped on Sunday by Jund al-Khilifa, which demanded France stop its air strikes against IS in Iraq.




Psalms 2:1 ¶Why do the heathen rage, and the people imagine a vain thing?
2 The kings of the earth set themselves, and the rulers take counsel together, against the LORD, and against his anointed, saying,
3 Let us break their bands asunder, and cast away their cords from us.
4 He that sitteth in the heavens shall laugh: the Lord shall have them in derision.
5 Then shall he speak unto them in his wrath, and vex them in his sore displeasure.
6 Yet have I set my king upon my holy hill of Zion.












This Will Not End Well (In The Short Term)
















Dave Hodges (TheCommonSenseShow): “I don’t have to tell you that things are bad. Everybody knows things are bad. We are in the greatest depression of all time. Several hundred thousand Americans lost their jobs last month and several million more afraid of losing their jobs. Thanks to the FED, the dollar buys a penny’s worth; your local bank is only still open through the forced “generosity” of your hard-earned tax dollars in the form of bailouts in the biggest wealth distribution plan in all of recorded history” (Howard Beale). A modern day Beale would go on to say, "We know the air is unfit to breathe, we are being sprayed by Chemtrails and our genetically modified food is unfit to eat. And we sit watching our TV’s as some local newscaster tells us that the Dow is approaching 6,000, the FDIC and Social Security are near insolvency. Because of the NDAA, the government can secretly snatch you off the street and nobody knows what to do about it. We know things are bad—worse than bad—they’re crazy! It’s like everything, everywhere is going crazy. So, we don’t go out anymore because we cannot afford the photo radar tickets and the toll road fees. We sit in our soon-to-be foreclosed homes and slowly the world we’re living in is getting smaller, and all we say is, “Please, at least leave us alone in our living rooms. Let me have my satellite TV and my MP3 players as well as my smartphone, and I won’t say anything. Well, I’m not going to leave you alone. I want you to get mad! I don’t want you to protest, the new DARPA weapons of citizen subjugation that would render protest effort to be futile. I don’t want you to riot, NORTHCOM and DHS lie in wait. I don’t want you to write to your Congressman, because they are already bought and paid for by the forces that are already at work trying to enslave you. I don’t know what to do about the depression, the Russians and the Chinese and neither does Obama. I also don’t know what to do about inflation, your lost pension and the crime in the streets.” All I know is that first, you’ve got to get mad. You’ve gotta say, “I’m a human being! My life has value!” DS: Then we have to turn to God in repentant prayer, ask Him to forgive us, and then if He would to keep us alive. That's ALL that is going to save us now. Otherwise we will be slaughtered like sheep in a pen.






Steve Quayle (SteveQuayle.com): The Ebola Outbreak in West Africa has reached a state of disorganized chaos, as the World Health Organization attempts to launch a controversial program that would move infected persons from their homes and into temporary holding facilities, providing them with basic care and preventing them from infecting family members. WHO predicts 21,000 new Ebola cases by November and as many as 1.4 million cases by late January if something isn’t done quickly to contain the poorly-managed situation. Ebola outbreak is not meant to be contained; never was.




Theodore Shoebat (Shoebat.com): Fulani Muslims attacked the Bokkos area in Nigeria, where the murdered five Christians by shooting them to death, and then murdered another five when they burned down five houses and an Assemblies of God church building. Rev. Manasseh Duwong recounted: They were shouting, “Allahu Akbar [God is greater]” and also saying, “We must wipe out these infidel Christians today”. The rest of the report states: Duwong identified those killed in Mbar as, “Gideon Mutang Kidum, Ladi Mafulul and two of her children, and a deaf woman by the name of Urawal.” Another church member, identified only as Rabo, was killed in nearby Mandar, he added. Also killed in Mbar was a driver passing through the town at the time of the attack, Duwong said. The assailants also burned his vehicle. His name was not immediately available, but Duwong and two other area pastors believe he also was a Christian. The pastor told Morning Star News that Muslim Fulani gunmen also killed two members of his church in Mbar on Sept. 7, and two more Christians the next night. In nearby Gong village, four houses were burned. Charred home of the slain Gideon Mutang Kidum. (Morning Star News) The Rev. Moses Kungyep, secretary of the area Regional Church Council, and the Rev. Sunday Gwom of the COCIN church in Matol, confirmed the attacks. They told Morning Star News that unless the Nigerian government is able to find ways of curtailing attacks by Muslim Fulani herdsmen, more Christian communities will be displaced.










Mac Slavo (via BackToTheBorder): Retired Border Patrol officer, Zach Taylor provides a shocking first-hand account of security issues he has witnessed and shares some frightening insights with the American people. According to Taylor, this entire border crisis is a controlled event designed to shape the perceptions of the American people. But more importantly, it is being used to facilitate what Taylor describes as a widespread national crisis. In this situation where you have hundreds of thousands, literally, of people coming across the border and you’re only catching a small fraction… If you’re not telling the public that 80% to 90% of what’s coming across the border is not being apprehended and you’re putting their focus on this ten percent that is being apprehended… only showing them the 1% that are 6, 8, 10 years old… and appeal to the compassion of the American people… and not show them the people with these serious communicable disease, the fact that they are known gang bangers.. they have the gang tats all over them.. because they do not have a conviction in the United States, they’re turned loose. We don’t know when CDC takes custody of one of these people from Homeland Security and whisks them off somewhere - we don’t know where - what disease they have been diagnosed with. We know it’s communicable… We assume it’s serious. But that is being kept away, not only from the agents in the Department of Homeland Security, it is part of the controlled event where America doesn’t realize how serious the threat is… and they’re only being shown the compassionate side of the situation… that 1% to 2% of those 160,000 that appeal to the compassionate side of the people of the United States. What the people don’t realize is that it is putting their own children at risk, because these children are going to be put in schools with their children. This administration and past administrations have not lived up to enforcing the rule of law with regards to national security and immigration laws. The problem as I see it… and as apparently CDC, Health and Human Services, and Department of Homeland Security… are trying to make this a controlled situation. They’re anticipating a large national crisis. When you see that FEMA is preparing for 200 million deaths in the United States that tells you something. When you see that the government is controlling the supply of ammunition and that basic medical supplies are in short supply in southern Arizona, something’s wrong. They are anticipating something drastic.


































****************










Harvey's comments on Wednesday price action (basis 1:30 PM EST)










Quote:



Gold closed down 2.40 at $1218.60 (Comex to Comex closing time).


Silver was down 7 cents at $17.64.






In the access market tonight at 5:15 PM: Gold: $1217.00


Silver: $17.70













Tuesday, Sep 23rd Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/09/sept-24no-change-in-gold-invent...














Total, Sep (Silver), Oct (Gold), Nov (Silver) Open Interest










In silver:






Quote:



The total silver Comex OI fell by a large 5,501 contracts with silver up yesterday to the tune of 1 cent. Tonight the silver OI complex rests at 171,000 contracts. In ounces, this represents 855 million oz or 122% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. We are now in the next big delivery month of September and here, the OI for September surprisingly fell by only 16 contracts down to 387 contracts. We had 149 notices filed on yesterday so we gained another 133 silver contracts or 665,000 additional silver oz will stand for the September contract month.
The December silver contract tonight rests at an unbelievably high 125,106 contracts for a loss of 5572 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 625 million oz or 93% of annual global production. This is totally unprecedented.













In Gold:






Quote:



The total gold Comex open interest fell today by 698 contracts from 384,526 up to xxxx with gold up by $4.20 yesterday. The OI for gold is still net rising despite the constant attacks by our banker friends. The next non active delivery month is September and here we see that the open interest fell by 6 contracts falling to 18. We had 5 notices filed on yesterday, so we lost 1 contract or 100 oz will not stand for delivery in September. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month actually fell by 288 contracts down to 18,288. Most players who are still willing to tackle the crooked Comex rolled to December.













Volume










In Silver:






Quote:



The estimated volume today was very good at 49,505. The confirmed volume yesterday was huge at 80,600 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 154,277 contracts. The confirmed volume yesterday was fair at 144,417.















Inventory Numbers










In Silver Inventory:






Quote:

Today, we had 0 deposits into the dealer account:

total dealer deposit:nil oz

we had 0 dealer withdrawal:



total dealer withdrawal: nil oz



We had 2 customer withdrawals:

I) Out of Brinks: 5059.01 oz
ii) Out of CNT: 12,384.82 oz


total customer withdrawal: 17,443.83 oz



We had 0 customer deposit:



Total customer deposits: nil oz


We had 1 adjustment:

i) Out of Delaware: 314,797.429 oz was adjusted out of the customer and this landed into the dealer account.


Total dealer inventory: 66.524 million oz
Total of all silver inventory (dealer and customer) = 184.330 million oz.












In Gold Inventory:






Quote:



We had zero dealer transactions today
Total dealer withdrawal: nil oz
Total dealer deposit: nil oz
We had 3 customer withdrawals:
i) Out of JPMorgan: 100.26 oz
ii) Out of Manfra: 128.60 oz
iii) Out of Scotia: 356,204.25 oz
total customer withdrawals: 35.497.410 oz.
We had 0 customer deposits:
total customer deposit: nil oz
At the Comex on a sale of kilobars, the seller is credited with a fineness of.995.
Kilobars are the big ticket item for China. However kilobars cannot head over to Shanghai unless they are remelted with a fineness of.9999.
Why on earth is the Comex showing deposits and withdrawals in exact weight kilobars???
We had 0 adjustments:
Total Dealer inventory: 1,010,842.934 oz 31.44 tonnes
Total gold inventory (dealer and customer) = 9.383 million oz. (291.80) tonnes)
A few weeks ago We had total gold inventory of 303 tonnes, so during this short time period 11.2 tonnes have been transferred out. We will be watching this closely!
Today, 0 notices was issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.We had 1















Delivery Notices










In silver:






Quote:



The CME reported that we had 31 notices filed for 155,000 oz today.













In gold:






Quote:



Today, 0 notices was issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.










We had 1 notices served upon our longs for nil oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of September, I take the number of contracts served for the entire month at 3523 x 5,000 oz per contract or 17,615,000 ounces to which I add the difference between the OI for the front month of (xxx) - the number of notices served upon today (31) x 5,000 oz per contract.











In gold:






Quote:



In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 772 x 100 oz = 77,200 oz, and then add the difference between the open interest for the front month of September (xxx) - the number of notices served upon today (1) x 100 oz = 78,900 oz or 2.45 tonnes).

















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,056.00, down 1.58%. WTI November crude was 92.80 up 1.11. Brent crude was 97.10 up 0.25. The spread between Brent and WTI was 4.30 down 0.86. The 30 year US Treasury bond was up 0.0300 at 3.2800. The 10 year T-Note was up 0.0300 at 2.5700. The dollar was up 0.32 at 85.05. The PPT/Dow was 17210.06 up 154.19. Silver closed at 17.68 down 0.10. The GSR was 68.8122 up 0.0327 oz of silver per oz of gold. CIA's Facebook was 78.54 up 0.25 (0.32%). December wheat was up 4.25 at 480.250. December corn was up 4.00 at 329.50. December lean hogs were down 12.625 at 95.250. October feeder cattle were up 0.000 at 230.150. December copper was up 0.000 at 3.035. October natural gas was up 0.000 at 3.816. November coal was down 0.56 at 54.17.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Thu, Sep 25, 2014 - 9:30pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 25 Sep 2014

This is DayStar (DS) with the Thursday Harvey Report.










News and Commentary










Mark O'Byrne (Goldcore): Russia and ex Soviet States Kazakhstan, Kyrgyz Republic and Azerbaijan continued to accumulate significant gold reserves in August in a trend that we highlighted last month: Russia Coordinating Gold Reserve Accumulation With Ex Soviet States? Latest official gold reserve data from the International Monetary Fund (IMF) shows that Russia again added to its gold reserves in August, with the Central bank of the Russian Federation purchasing 232,510 ozs (7.23 tonnes) and bringing its total gold reserves to 35.769 million ozs or 1,112.5 tonnes. Likewise, the National Bank of Kazakhstan purchased a massive 795,213 ozs or 24.7 tonnes in August bringing its total gold reserves to 5.848 million ozs (181.9 tonnes). Turkey was also a gold buyer in August and the Turkish central bank adding 96,783 ozs (3 tonnes) to bring its total official gold reserves to 16.45 million ozs (511.6 tonnes), which is the world's 12th largest official gold holding.


Harvey: GLD: There was no change in gold inventory at the GLD (inventory now at 773.45 tonnes). SLV: Today we had a big addition of silver inventory of 3.98 million oz (inventory 345.244 million oz). GOFO was positive and increasing.


Goldcore: Yesterday, the UK Treasury announced a consultation review into widening UK financial benchmark legislation and make manipulation of key currency, precious metals, and interest rate benchmarks a criminal offence. The only benchmark that is currently regulated is the interest rate LIBOR benchmark. HM Treasury plan to add a further seven key benchmarks to the legislation. The London Gold Market Fixing Company (LGMFL) and the London Bullion Market Association (LBMA) are now attempting to 'circle the wagons' on regulatory compliance and investor litigation by moving to a new LBMA Gold Price process modelled on the recently introduced LBMA Silver Price. The LBMA Silver Price auction has not really evolved in any way since being introduced on August 15, and its current 'phase 2' stage, by design, only allows bullion banks and brokers to participate due to the lack of a central clearing counterparty and limitations on bi-lateral credit lines for auction participants. However, this has not stopped the LBMA ploughing ahead with a similar plan for the gold fixing process which still has the CME Group and Thomson Reuters as the leading contender. DS: You mean it is legal in the UK to manipulate the price of gold? What a deal.










Jim Rickards (via Chris Powell and John Ward/Anglo-Far East): Gold manipulation methods, Rickards says, include strategic dumping of official gold reserves, which isn't done much anymore; dumping paper gold on the futures markets to panic weak-handed and skittish longs, especially hedge funds, which is "child's play"; and gold leasing by central banks to investment banks that leverage the gold supply by a factor of 10, effectively devaluing gold, since most gold investors don't realize that there is no metal behind their claims, just the market-manipulating power of the central banks and their investment bank agents. Another method, Rickards says, is the exchange-traded gold fund GLD, which functions mainly to fleece ordinary investors of their gold for shipment to China. The big problem with the London gold fix, Rickards says, was not price rigging, most of that being done on the futures market in New York, but the front-running the participating banks did against the trades of their own clients. "We don't really have a reference price for gold," Rickards says. "What we have is theater." But gold investors may be confident, Rickards says, because market manipulations always fail eventually. Rickards identifies the three major participants in gold market manipulation as the U.S. Federal Reserve, the U.S. Treasury Department, and the government of China. The Fed, Rickards says, actually wants a weaker dollar and more inflation and so favors a gradually higher gold price provided it happens in an "orderly" way, and when gold was nearing $2,000, central banks freaked out. China, Rickards says, wants a lower gold price because it is still buying, not to back the yuan metallically someday but simply to hedge its foreign exchange surplus of U.S. Treasury bonds that will be devalued along with the dollar. And the Treasury Department, Rickards says, has to accommodate China's acquisition of gold so as to discourage any dumping of Treasuries. Gold market manipulation will end, Rickards says, when China gets enough gold to hedge its Treasuries fully and the Fed gets the inflation it wants. But, he adds, the Fed wrongly thinks that it can dial inflation up and down as necessary. He expects hyperinflation when markets eventually get away from the Fed. He thinks this process will conclude in a year or two. For once Rickards claims some authority for the scenario he presents. He says it is what he has been given to understand from unidentified officials at the International Monetary Fund.










Nicole Mordant (Reuters): The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations. Several mines globally have already suspended output in the past 18 months, but not as many as industry watchers expected as producers focused on slashing costs and reworking mine plans to extract more profitable, higher-grade ounces. But with bullion's slide this week to a nine-month low of $1,208.36 an ounce, those defenses may not be enough.








Manoj Nair (Gulf News, Dubai): With local gold prices dipping below the 140 dirhams a gram (for 22-karat) level for the first time this year, it was enough to unleash a manic round of buying at jewellery stores in the United Arab Emirates and the Gulf over the weekend. If the current levels -- of around Dh140 -- can sustain itself, it could lead to a surge in buying ahead of the key festivals of Eid and Diwali next month, industry sources say. Industry feedback suggests that on Friday itself nearly 1.5 tonnes of gold could have been bought at retail level transactions across the Gulf, with the UAE accounting for nearly half of that. On Monday, with the price at Dh139.25 a gram, the level of consumer interest was sustained. "The month with Diwali" -- the Indian festival when buying jewellery is rated as auspicious -- "represents a peak buying period for the trade in the Gulf, and this year it's doubly so with Eid also falling in the same month," said Shamlal Ahmad, director of International Operations at Malabar Gold & Diamonds. "Shoppers are clearly bringing forward their purchases to make use of the soft prices."






Bill Holder (Miles Franklin): By the time this whole thing is done, we will find out and know for sure ...our "rule of law" was trashed and governments themselves committed massive fraud. If the trust in various governments is broken ...will their currencies issued be trusted? To wrap this up, ask yourself a question. Were the financial system to come down, what would you trust or accept for your labor, knowledge or goods immediately afterwards? The answer to this question is why you must arrive into the aftermath of a break in confidence with something you have confidence in and would accept yourself!




Zero Hedge: China finally admitted it has a problem when overnight it "uncovered almost $10 billion in fraudulent trade nationwide as part of an investigation begun in April last year, including many irregularities in the port of Qingdao, the country’s currency regulator said today." The problem with the data set is how it is intertwined with all other data, because merely cutting down on hot money flows has major impacts not only on China's "optical" growth, as it reduces the contribution to net trade once fake export invoices are eliminated, but it also impacts the "bean count" for current account data in the US and other places where Chinese hot money transits to and from. But while the end impact of the crackdown is still to be determined, one thing is clear: $10 billion is just the start. Should the entire CFD-sector unwind, the impact could be devastating if it migrates away from the "only" $100 billion in FX loans tied to CFDs, and impact the broader FX loan space, which at last check was a whopping $1 trillion, and whose unwind would generate a wholesale market and bank crash in China, and perhaps serve as the catalyst to start China's outright QE.




Tyler Durden: Iraq's prime minister says his country's intelligence operation has uncovered a plot for an imminent attack on subway systems in New York and Paris. Prime Minister Haider al-Abadi said he was told of the plot by Baghdad on Thursday, and that it was the work of foreign fighters of the Islamic State of Iraq and Syria (ISIS) in Iraq. Asked if the attack was imminent, he said, "Yes." Asked if the attacked had been thwarted, he said, "No." Al-Abadi said the United States had been alerted. He made the remarks at a meeting with journalists on the sidelines of a gathering of world leaders at the United Nations General Assembly. At a Pentagon briefing Thursday, Rear Adm. John Kirby would not comment on the reported plot.








This Will Not End Well (In The Short Term)










Susan Duclos (AllNewsPipeline): Videographer Charles Walton captured video of a Nurses Union protest in Las Vegas with direct quotes issued by the Planet Nurse at Planet Hollywood, where nurses took to the streets dressed in HAZMAT suits, holding signs in an attempt to bring the truth the American people, the same truth that many others have been warning about...... a warning of "danger and death," should Ebola hit the United States, making it clear from the very people that would be on the front line, quite literally, that US hospitals are NOT prepared for an Ebola outbreak and those claiming anything to the contrary are outright lying. As Mashable reports, these nurses marched through Planet Hollywood Casino, the dropped to the ground in front of the Bellagio, pretending to be dead. Direct quote "Once on the ground, they outlined their bodies in chalk like a crime scene and wrote out the hashtag #StopEbolaRNRN." https://www.allnewspipeline.com/US_Nurses_Dire_Danger_And_Death_Warning.php










Live Free or Die (AllNewsPipeline): All across the internet, people are asking why USAToday suddenly changed their symbol to a ‘biohazard’ symbol as shared in the newly released videos below. Was it done in very poor taste as argued by Dahboo777, Mary Greeley and Scott Anthony? Or, does USAToday know something that we don’t know? Coincidentally, or not, the biohazard symbol was also linked to this story outlining ‘new lab incidents’ that are fueling ‘fear and safety concerns’ in Congress. The symbol has since been changed back to it’s normal symbol but the questions remain, was this a hint to the NWO that things are ready to break loose?




Susan Duclos (AllNewsPipeline): According to this breaking report at NPR, Eric Holder, one of the most controversial figures in the Obama administration is finally about to announce his resignation. From the Black Panther scandal to Fast and Furious, to the most recent screw up where his aide accidentally called Republican oversight committee chairman Darrell Issa's office to ask for help in "spinning" the IRS targeting scandal, to a high number of other controversial decisions, statements and actions, Holder has been encouraged to resign from almost the beginning of his tenure. DS: If you ask me, this is as ominous as anything. Holder is likely getting out while the getting is good. He doesn't need/want to be in DC when things get hot.










Joshua Cook (Benswann): Former CIA contractor Steven Kelley tells Benswann.com that ISIS is a “wide open secret” and confirms that the CIA has been training and arming ISIS and rebel groups. He and paints a grim picture of what may happen in Syria and predicts that this new war will spiral out of control, turning into World War 3. “We’re not going to come out of this alive,” said Kelley. Listen to the exclusive interview here. https://soundcloud.com/joshua-cook-17/joshua-cook-interviews-former-cia-...










Zaycon Foods (via SteveQuayle): We are seeing truly unprecedented circumstances in the protein commodity markets this fall; in fact, they are turned upside down. You can see it on the news, in stories online and in print, or simply by checking meat prices at your local grocery store: the extremely short supplies in the beef and pork markets have now pushed into the chicken market, and demand for chicken is up more than 17% nationwide. This squeeze on the market has not merely reduced supply, it has completely changed production forecasts, impacting the production ability of suppliers of beef, pork, and chicken products. These unforeseen circumstances have caused a marked shift in the availability of products this fall. Zaycon is committed to getting you quality foods at the lowest prices possible. There’s no trick to how we keep pricing so low: we give you the best prices the going market rates allow. And we always try to secure as much inventory as our customers want. As our events near the point of selling out, usually we just order more truckloads from our suppliers. This fall, the inventory is simply not there. Given the reality of current supply circumstances, we simply must raise the price of our chicken to $2.49 per pound. This is, in all honesty, the smallest increase we can possibly make without actually losing money on this sale. And there’s more: given the strained supply of chicken available right now, we must move the deliveries scheduled to start in early October to the end of the month. To be very clear, all past sales will be honored at the price you paid: if you have already ordered your cases of chicken, your event’s date is moving, but your price will not. The new pricing only affects future orders. Please know that we are working hard to minimize the impact this change will have on you: your deliveries will occur at the same locations and on the same days of the week, but with the dates moved approximately three weeks later. We will send details about these adjustments soon; please stay tuned to your email, texts, and our Facebook page for updates. Also, for the record: once we can lower pricing again, we’ll do it. You have our heartfelt thanks for the understanding and loyalty our customers never fail to show us. www.zayconfoods.com








Romy (SteveQuayle): Most stores have the appearance of being well stocked - truth is, the majority of them only have enough basic items for one day, possibly two and the prices are rising dramatically for meat and poultry as well as for fruit and veggies. This gives most people no great cause for concern just yet. In the next few months, everyone will be wondering why they hadn't the foresight to stock up on basic goods as well as long term food, water and living supplies such as toilet paper and paper cups, plates and utensils. The shock will hit almost overnight when we're all trying to stay safe from the manufactured plagues being brewed in the blood of our own troops being sent to Liberia, etc! Not to mention what TPTB have already released on many states already, ie, the viruses, mutated flus and very possibly forced vaccines soon. People must prepare or prepare to die, as the illnesses will keep many people from opening their homes to others, including sick and hungry family members! This is happening right now - the trucks will stop bringing food or anything else into affected areas, especially in large cities and populated areas. The post offices were armed for a reason! Even some hard core believers aren't using their heads in regard to how quickly these things are all coming down on all of us at once. https://www.stevequayle.com/index.php?s=33&d=1117






Ecclesiastes 12:13 ¶Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man.
14 For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil.










****************










Harvey's comments on Thursday price action (basis 1:30 PM EST)










Quote:



Gold closed up 2.60 at $1221.20 (Comex to Comex closing time).


Silver was down 26 cents at $17.38.






In the access market tonight at 5:15 PM:Gold: $1221.00


Silver: $17.53













Wednesday, Sep 24th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/09/sept-25slv-adds-another-398-mil...














Total, Sep (Silver), Oct (Gold), Nov (Silver) Open Interest










In silver:






Quote:



The total silver Comex OI fell by 2046 contracts with silver down yesterday to the tune of 7 cents. Tonight the silver OI complex rests at 168,347 contracts. In ounces, this represents 841 million oz or 120% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. We are now in the next big delivery month of September and here, the OI for September surprisingly fell by 42 contracts down to 70 contracts. We had 31 notices filed on yesterday so we lost another 11 silver contracts or 55,000 additional silver oz will not stand for the September contract month.
The December silver contract tonight rests at a high 121,854 contracts for a loss of 2394 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 609 million oz or 87% of annual global production. This is totally unprecedented.













In Gold:






Quote:



The total gold Comex open interest fell today by 512 contracts from 385,788 down to 385,276 with gold down by $2.40 yesterday. The OI for gold is still net rising despite the constant attacks by our banker friends. The next non active delivery month is September and here we see that the open interest fell by 1 contracts falling to 13. We had 1 notice filed on yesterday, so we neither gained nor lost any gold contracts standing for delivery in September. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month actually fell by 354 contracts down to 18,242. Most players who are still willing to tackle the crooked Comex rolled to December.













Volume










In Silver:






Quote:



The estimated volume today was very good at 51,242. The confirmed volume yesterday was excellent at 57,689 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 183,911 contracts. The confirmed volume yesterday was fair at 139,827.















Inventory Numbers










In Silver Inventory:






Quote:

Today, we had 0 deposits into the dealer account:

Total dealer deposit:nil oz

We had 0 dealer withdrawal:



Total dealer withdrawal: nil oz



We had 5 customer withdrawals:

i) Out of Brinks: 300,156.46 oz
ii) Out of CNT: 5,182.99 oz
iii) Out of Delaware: 11,884.500
iv) Out of HSBC 87,084.410 oz
v) Out of Scotia; 660,254.12 oz


Total customer withdrawal: 1,064,562.48 oz



We had 0 customer deposit:



Total customer deposits: nil oz


We had 1 adjustment:

i) Out of Delaware: 237,696.594 oz was adjusted out of the customer and this landed into the dealer account.
Total dealer inventory: 66.762 million oz
Total of all silver inventory (dealer and customer) = 183.265 million oz.












In Gold Inventory:






Quote:



We had zero dealer transactions today
Total dealer withdrawal: nil oz
Total dealer deposit: nil oz
We had 1 customer withdrawal:
i) Out of Scotia: 199.49 oz oz
total customer withdrawals: 199.49 oz.
We had 1 customer deposits:
i) Into Scotia: 199.09 oz
total customer deposit: 199.09 oz
and we lost.4 oz of gold through "evaporation"
At the Comex on a sale of kilobars, the seller is credited with a fineness of.995.
Kilobars are the big ticket item for China. However kilobars cannot head over to Shanghai unless they are remelted with a fineness of.9999.
Why on earth is the Comex showing deposits and withdrawals in exact weight kilobars???
We had 0 adjustments:
Total Dealer inventory: 1,010,842.934 oz 31.44 tonnes
Total gold inventory (dealer and customer) = 9.383 million oz. (291.80) tonnes)
A few weeks ago We had total gold inventory of 303 tonnes, so during this short time period 11.2 tonnes have been transferred out. We will be watching this closely!
Today, 0 notices was issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.We had 0















Delivery Notices










In silver:






Quote:



The CME reported that we had 10 notices filed for 50,000 oz today.













In gold:






Quote:



Today, 0 notices was issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.










We had 0 notices served upon our longs for nil oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of September, I take the number of contracts served for the entire month at 3533 x 5,000 oz per contract or 17,665,000 ounces to which I add the difference between the OI for the front month of (70) - the number of notices served upon today (10) x 5,000 oz per contract.


Thus initial standings for silver: 3533 notices x 5,000 oz per notice or 17,665,000 oz + (70- 10) x 5000 oz = 17,965,000 oz.
We lost an additional 55,000 silver standing for the September contract month.


It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.


These look like a paper deposit/withdrawal where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.











In gold:






Quote:



In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 772 x 100 oz = 77,200 oz, and then add the difference between the open interest for the front month of September (13) - the number of notices served upon today (0) x 100 oz = 78,500 oz or 2.45 tonnes).




Thus: September standings:772 contracts x 100 oz = 77,200 oz + (13-0) =


78,500 oz/ no change from yesterday.















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,038.00, down 1.70%. WTI November crude was 92.53 down 0.27. Brent crude was 97.09 down 0.01. The spread between Brent and WTI was 4.56 up 0.26. The 30 year US Treasury bond was down 0.0600 at 3.2200. The 10 year T-Note was down 0.0600 at 2.5100. The dollar was up 0.15 at 85.20. The PPT/Dow was 16945.80 down 264.26. Silver closed at 17.50 down 0.18. The GSR was 69.8229 up 1.0107 oz of silver per oz of gold. CIA's Facebook was 77.22 down 1.32 (1.68%). December wheat was down 6.25 at 474.000. December corn was down 3.50 at 326.00. December lean hogs were down 1.650 at 93.600. October feeder cattle were down 0.050 at 230.100. December copper was down 0.005 at 3.030. October natural gas was up 0.155 at 3.971. November coal was down 1.14 at 53.03.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Sun, Sep 28, 2014 - 10:02pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~28 Sep 2014

This is DayStar (DS) with the Friday Harvey Report.






FDIC Bank Seizures
The FDIC did not seize any banks this week.




The Commitment of Traders (COT) Report
Gold: For the nth straight week, bullish as the commercials go net long by a whopping 11,924 contracts and gold goes down!!


Silver: The bankers go net long by 6792 contracts and thus bullish and yet silver plummets. The data looks corrupted.








News and Commentary




Mark O'Byrne (GoldCore): Back in late 1979 and early 1980, some of the key drivers that propelled the gold price higher were the Russian invasion of Afghanistan and the Iranian hostage crisis. Just looking back at old newspaper gold market commentaries in 1979 and 1980 will highlight that a lot of the key drivers for the rise in the gold price at that time were geo-politically related. Today, the world appears to be as uncertain if not more uncertain. Indeed, in 1980 there was little risk of terrorism - state sponsored or otherwise. In the late 1970s and early 1980s, the gold futures markets did not have nearly as large an impact on the world gold price as they does now, and the gold price was primarily driven by physical demand for gold, a lot of which was Middle Eastern and Asian demand. Fast forward to today, and the 'flight to quality' and 'financial insurance' characteristics of gold should in theory be as important now as they were in 1979-1980 given similar invasions and occupations in various countries, not least in the Middle East with ISIS, and the renewed bombing in Syria/Iraq by the US and/or a US coalition. The key driver of the gold price at the moment is perceived to be the relative strength of the US dollar, yet the US dollar is only stronger compared to the other main currencies because these currencies, such as the Euro, are weak due to their economies remaining weak and their money supplies having been debased. It would appear to us that the factors that would make gold a safe-haven asset have not gone away. Adding in the fact that there is a continued disconnect between, on the one hand, the global physical gold market primarily driven out of China and India, and on the other hand, the New York gold futures market and unallocated London bullion market on the other hand, then this disconnect should not be expected to persist over the medium term. This is especially the case given the heightened geopolitical and macroeconomic risks. With the gold price not yet signalling the geopolitical and macroeconomic alarm bells that many would have expected it to, the question of gold price manipulation remains a valid question. Most markets these days are being manipulated. Therefore it seems very possibly that the gold and silver markets are too. This could be one of the factors in the precious metals surprisingly poor performance in recent weeks despite significant geopolitical and indeed economic uncertainty. Everybody should own some physical gold as a hedge and a safe haven asset to protect against the significant risks challenging us today which include bail-ins, currency wars, terrorism and war.










Harvey: GLD: There was no change in gold inventory at the GLD (inventory now at 773.45 tonnes). SLV: Today there was no change in silver inventory (inventory 345.244 million oz). GOFO is positive and increasing.










DS: Bill Haynes says he has one client who wants to buy $40 million in gold (1 tonne). Apparently there are many billionaires out there that made their money in the stock market and don't even own an ounce of gold. If the market starts down, they will sell and move into something. With money printing like it is, gold will surely get some of it. If these guys start moving into physical gold, the supply will not last very long. Of course, they might get a phone call like T. Boone Pickens and Warren Buffet did, and told to cool it with energy (Pickens) and the metals (Buffett).




Chris Powell: Egon von Greyerz notes increasing evidence of the onset of a worldwide depression. Harvey: Von Greyerz sees a worldwide depression due to the massive amount of debt accumulated. DS: Von Greyerz thinks the depression will last a long time.










Frank Tang (Reuters): The London Bullion Market Association (LBMA) said on Thursday it appointed Citigroup as a market maker, underscoring the bank's ambitions to expand into the precious metals sector while others are exiting due to regulatory concerns. LBMA said it named Citibank, a unit of Citigroup, as a spot market-making member effective Thursday. Currently, LBMA has 12 market makers that serve in either one, two, or all three of the spot, forwards, and options markets. They make markets by quoting two-way prices in both gold and silver products to other market makers.








Andrew Maguire (via Harvey): We need to start from the beginning. First let’s look at why and then how gold price suppression has been enabled right under the regulators noses as it fully explains why we are trading in the 12s not the 16’,18’, 19’.s [ DS: I think he refers to British pounds] or higher. First the why...You have had many reputable guests on that have provided detailed reasoning as to why the Fed, working through its agent banks, needs to suppress gold. Chris Powell of GATA has drawn attention to swathes of irrefutable hard copy evidence of this, and I suggest any doubters go with an open mind to the GATA site and spend a fruitful hour looking through this auditable information. I am absolutely sure this valuable resource has also been used by sovereigns and CB’s too and greatly influenced their desire to accumulate gold. Understanding this suppression exists enables these powerful entities to accumulate gold under the radar. We have seen a massive shift of western gold reserves to the East. There is plenty of evidence of this. I wonder sometimes just how many credible people does it take to convince the financial press that as a result of this obvious Fed intervention. Gold and silver are a screamingly cheap buy. People like James Turk, Eric Sprott, John Embry and others, and most recently Paul Craig Roberts did a fine job of rationalising why the Fed, through agent bullion banks, needs to supress the price of gold by flooding the futures and OTC markets with vast tonnages of synthetic gold.






Chris Powell (GATA): London trader Andrew Maguire says today that the recent pounding of the gold price in the futures markets has resulted in offtake of about 650 tonnes of real metal in the last month.




Chris Powell (GATA): Fund manager and economist Sandeep Jaitly tells the Mexican financial journalist Guillermo Barba that gold price suppression by central banks will backfire by encouraging people to hoard more metal at discounted prices.




Chris Powell (GATA): In the first installment of his review of the operations of the new Shanghai International Gold Exchange in Shanghai's free-trade zone, gold researcher and GATA consultant Koos Jansen writes, among other things, that the exchange seems designed to discourage export of gold from China.




Caroline Binham (Financial Times, London): Six banks have entered settlement discussions with the UK's main markets regulator over the alleged manipulation of foreign exchange in what could amount to record fines.
Each of the banks -- Barclays, Citigroup, HSBC, JPMorgan Chase, Royal Bank of Scotland, and UBS -- are facing fines in the hundreds of millions of pounds from the Financial Conduct Authority, according to people familiar with the situation. The settlement talks, which typically last eight weeks, are only with the FCA and do not include the United States or any other domestic regulator.






Alasdair Macleod (GATA): At the heart of market control is the substitution of unsound currency for sound money, which historically has been gold. Increasing the quantity of currency and encouraging banks to increase credit out of thin air is the principal means by which central banks operate. In this environment an investor risks all he possesses if he insists on fighting the system; and nowhere is this truer than with gold. Gold is not about conventional investing in this world of fiat currencies, it is about insurance against the financial system collapsing under the weight of its own delusions. Regarded as an insurance premium against this risk, gold is common sense; and there are times when it is worth increasing your insurance. Not only has the quantity of global currency and bank credit expanded dramatically since the Lehman crisis, it is clear that this is a trend that cannot now be reversed without triggering financial chaos. In other words we are already committed to monetary hyperinflation. Meanwhile, the quantity of above-ground stocks of gold is growing at less than 2% annually. Gold is therefore getting cheaper relative to the dollar by the day. The reason is simple: it is the accumulating burden of debt. The sum of US federal and private sector debt stands at about$30 trillion, so a one per cent rise in interest rates and bond yields will simplistically cost $300bn annually. The increase in interest rates during the 2004-07 credit boom added annual interest rate costs of a little over double that, precipitating the Lehman crisis the following year. And while the US this time might possibly weather a two to three per cent rise in improving economic conditions, much less would be required to tip other G8 economies into financial and economic chaos. Falling commodity prices and a flight from other currencies into the dollar appear to be signalling the greater risk is that we are sliding into a global slump. Even though large financial speculators appear to be driving commodity and energy prices lower, the fact remains that the global economy is being undermined by diminishing affordability for goods and services. In other words, the debt burden is already too large for the private sector to bear, despite a prolonged period of zero official interest rates. The precedent for unlimited creation of cash and credit has been set and is undisputed. The markets are buoyed up by a sea of post-Lehman liquidity, are not discounting any trouble, and are ignoring the signals from commodity prices. If the economic downturn shows any further signs of accelerating the adjustment is likely to be brutal, involving a complete and sudden reassessment of financial risk.




Goldreporter: Bullion dealers from all regions report that gold sales in the German bullion trade market surge since last week. Suppressed prices for gold and silver are obviously considered buying rates by German investors. The German precious metals trade reports a surge in sales. “For about a week we have record considerably increased turnover again, which is now on the previous year’s level, so it doubled compared to the recent months.”, Rene Lehman from the internet dealer Münzland in Dresden told Goldreporter. Daniel Marburger, Director of Coininvest GmbH in Frankfurt/Main also stated that "In the past seven working days we have seen an extreme surge in demand.”. Predominantly gold is being purchased. At Münzland's 60 percent of the business is in standard gold coins, in particular 1 oz. Maple Leaf and Australian Nugget. Silver represents only 35 percent of sales, Rene Lehman says. Purchasers are mainly buying Maple Leafs and the new Australian Lunars. The rest was mainly invested in 50 and 100 gramme gold bullion. https://www.goldreporter.de/german-bullion-dealers-report-major-increase...














This Will Not End Well (In the Short Term)










Dave Hodges (TheCommonSenseShow): Susan Duclos recently interviewed “V” the Guerrilla Economist and the following information was revealed in this landmark interview: “The process of undermining the US dollar is well on schedule as well; more than 105 countries have decided that the dollar no longer works for them, joining Russia, China and other BRICS nations in leaving the dollar as the entire world comes to the realization that America’s leaders are insane. Their recklessness and evil ways have left tremendous shame upon our nation. Though there has been much manipulation and propping up, but that is only setting us up for the inevitable massive crash. “V” begins by updating us on recent information that he has received from his 4-Star General source and warns that events are still on schedule, a schedule that he previously warned would leave the US dollar ‘undermined’ by 2015 and the US ceasing to exist as a nation by 2017“. The interview can be accessed through the following link. I highly recommend listening to this interview. https://www.thecommonsenseshow.com/2014/09/27/the-collapse-of-the-americ...










John Little (OmegaShock.com): You’ve probably heard about the Georgia Guidestones, so I won’t waste your time in a lengthy explanation. For those of you who haven’t heard of this Satanic monument, you can go here: https://en.wikipedia.org/wiki/Georgia_Guidestones. It is truly a vile tribute the ideals of the Satanic elites – and right in the middle of the ‘Bible Belt’. The fact that this monument still stands… well …it tells us that we have fallen very far indeed. Even more interesting, this monument had its 33rd birthday, last year – on March 22nd, 2013. Thirty three has always been a significant number to the Illuminati, so anything that happens in conjunction with this monument – in, around and after that time – would also be significant. That’s why I consider a granite block engraved with 20-14 to be more than a little ominous. Between 2009 and September of this year, that notch where the 2014 block now sits was empty. They had just begun the process of carving that notch in the guidestone in 2009. Why did they wait until now to fill that notch? Could it be that they now know that their plans have finally been set in motion? There is an intentionality to this that is profoundly disturbing. DS: A report is now circulating that the newly installed block had markings on all 6 sides: MM, JAM, 8-14-16-20. This is a 2-4 pattern and thus produces a 24. This number should be noted. People from the community destroyed the newly installed block on 25 Sep 2014 https://www. youtube.com/watch?v=xkQd2WySV4U&feature=youtube. The markings on the stone are decoded here: https://www. youtube.com/watch?v=A_ZgRbRQ57w






Veterans Today Radio Interview on 9-22-14 With Gordon Duff, Jim Fetzer, Preston James And Stew Webb: Latest invasion of Iraq and Syria is not getting knee-jerk reaction from American public, and beheadings are all very likely false, too. Looks like they’re setting us up for a fake boogey man to do something very catastrophic to America to make us blindly go into another conflict. 52:05 GORDON DUFF response: This is why I am saying what I am saying today. Gordon has an indication, and frankly it could have happened already were it not for so many whistleblowers on the internet exposing potential nuclear plots, that there is a nuclear threat against USA. Russians are an aware of this. There has been an exchange or not? Gordon will not box with Russians, who give Gordon information. The Ukrainian war went nuclear! The government in Kiev says it has. They are staunch allies of USA. https://stateofthenation2012.com/?p=7858














Ecclesiastes 3:1 ¶To every thing there is a season, and a time to every purpose under the heaven:
2 A time to be born, and a time to die; a time to plant, and a time to pluck up that which is planted;
3 A time to kill, and a time to heal; a time to break down, and a time to build up;
4 A time to weep, and a time to laugh; a time to mourn, and a time to dance;
5 A time to cast away stones, and a time to gather stones together; a time to embrace, and a time to refrain from embracing;
6 A time to get, and a time to lose; a time to keep, and a time to cast away;
7 A time to rend, and a time to sew; a time to keep silence, and a time to speak;
8 A time to love, and a time to hate; a time of war, and a time of peace.






DS: What time is it now?




Illuminist Albert Pike's Plan for Three World Wars:


"The Third World War must be fomented by taking advantage of the differences caused by the "agentur" of the "Illuminati" between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. Meanwhile the other nations, once more divided on this issue will be constrained to fight to the point of complete physical, moral, spiritual and economical exhaustionWe shall unleash the Nihilists and the atheists, and we shall provoke a formidable social cataclysm which in all its horror will show clearly to the nations the effect of absolute atheism, origin of savagery and of the most bloody turmoil. Then everywhere, the citizens, obliged to defend themselves against the world minority of revolutionaries, will exterminate those destroyers of civilization, and the multitude, disillusioned with Christianity, whose deistic spirits will from that moment be without compass or direction, anxious for an ideal, but without knowing where to render its adoration, will receive the true light through the universal manifestation of the pure doctrine of Lucifer, brought finally out in the public view. This manifestation will result from the general reactionary movement which will follow the destruction of Christianity and atheism, both conquered and exterminated at the same time." https://www.rense.com/general80/pike.htm


















****************










Harvey's comments on Friday price action (basis 1:30 PM EST)










Quote:



Gold closed down 7.10 at $1214.10 (Comex to Comex closing time).


Silver was up 10 cents at $17.48.






In the access market tonight at 5:15 PM:
Gold: $1218.00


Silver: $17.65













Thursday, Sep 25th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/09/sept-26no-change-in-gld-invento...














Total, Sep (Silver), Oct (Gold), Nov (Silver) Open Interest










In silver:






Quote:



The total silver Comex OI fell slightly by 379 contracts with silver down sharply yesterday to the tune of 26 cents. Tonight the silver OI complex rests at 167,968 contracts. In ounces, this represents 840 million oz or 120% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. We are now in the next big delivery month of September and here, the OI for September fell by 29 contracts down to 41 contracts. We had 10 notices filed on yesterday so we lost another 19 silver contracts or 95,000 additional silver oz will not stand for the September contract month.
The December silver contract tonight rests at a high 121,210 contracts for a loss of 644 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 606 million oz or 87% of annual global production. This is totally unprecedented.













In Gold:






Quote:



The total gold Comex open interest rose today by 2807 contracts from 385,276 up to 388,085 with gold up by $2.60 yesterday. The OI for gold is still net rising despite the constant attacks by our banker friends. The next non active delivery month is September and here we see that the open interest fell by 7 contracts falling to 7. We had 0 notice filed on yesterday, so we lost 7 gold contracts or 700 oz that will not stand for delivery in September. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month actually rose by 1537 contracts up to 19,779. Most players who are still willing to tackle the crooked Comex rolled to December.













Volume










In Silver:






Quote:



The estimated volume today was fair at 38,515. The confirmed volume yesterday was excellent at 56,673 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 163,184 contracts. The confirmed volume yesterday was good at 201,258.















Inventory Numbers










In Silver Inventory:






Quote:





silverInventoryNumbersText


Today, we had 0 deposits into the dealer account:


Total dealer deposit:nil oz.




We had 1 dealer withdrawal:


i) Out of CNT: 426,730.93 oz.
Total dealer withdrawal: 426,730.93 oz.


We had 1 customer withdrawals:
I) Out of Brinks: 202,631.49 oz.
Total customer withdrawal: 202,631.49 oz.


We had 1 customer deposit:


i) Into JPMorgan: 744,036.811 oz.
Total customer deposits: 744,036.811 oz.




We had 1 adjustment:


i) Out of Delaware: 152,905.866 oz was adjusted out of the customer and this landed in the dealer account.


Total dealer inventory: 66.488 million oz
Total of all silver inventory (dealer and customer) = 183.380 million oz.















In Gold Inventory:






Quote:





Today, we had zero dealer transactions today


Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 1 customer withdrawal and it was a dilly:


i) Out of JPMorgan: 96,450.000 oz (3,000 Kilobars???)




Total customer withdrawals: 96,450.000 oz oz.


We had 0 customer deposits:


Total customer deposit: nil oz




At the Comex on a sale of kilobars, the seller is credited with a fineness of.995.
Kilobars are the big ticket item for China. However kilobars cannot head over to Shanghai unless they are remelted with a fineness of.9999.
Why on earth is the Comex showing deposits and withdrawals in exact weight kilobars???




We had 1 adjustment:
i) Out of Manfra: We had 26,095.073 oz was adjusted out of the dealer and this landed into the customer account of Manfra.




Total Dealer inventory: 984,747.871 oz 30.629 tonnes
Total gold inventory (dealer and customer) = 9.286 million oz. (288.85) tonnes)
A few weeks ago We had total gold inventory of 303 tonnes, so during this short time period 14.2 tonnes have been transferred out. We will be watching this closely!


















Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 5 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.




We had 5 notices served upon our longs for 500 oz of gold. In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 777 x 100 oz = 77,700 oz, and then add the difference between the open interest for the front month of September (6) - the number of notices served upon today (5) x 100 oz = 77,800 oz or 2.42 tonnes




Thus: September standings: 777 contracts x 100 oz = 77,700 oz + (6-5) =
77,800 oz/ a loss of 700 oz from yesterday.


Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 5 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.
















Delivery Notices










In silver:






Quote:





silverDeliveryNotices


The CME reported that we had 24 notices filed for 120,000 oz today. To calculate what will stand for this active delivery month of September, I take the number of contracts served for the entire month at3557 x 5,000 oz per contract or 17,785,000 ounces to which I add the difference between the OI for the front month of(41) - the number of notices served upon today (24) x 5,000 oz per contract.














Thus initial standings for silver:3533 notices x 5,000 oz per notice or 17,785,000 oz + (41- 24) x 5000 oz = 17,870,000 oz


We lost an additional 95,000 silver standingfor the September contract month.


It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silverbackwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of5 days onthe Comex on acontinual basis is suspect.


These look like a paper deposit/withdrawal where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.





















In gold:






Quote:



We had 5 notices served upon our longs for 500 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary


silverContractsLeftToBeDelivered






In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of September, I take the number of contracts served for the entire month at 3557 x 5,000 oz per contract or 17,785,000 ounces to which I add the difference between the OI for the front month of (41 ) - the number of notices served upon today (24) x 5,000 oz per contract.


Thus initial standings for silver: 3533 notices x 5,000 oz per notice or 17,785,000 oz + (41- 24) x 5000 oz = 17,870,000 oz


We lost an additional 95,000 silver standing for the September contract month.


It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!















In gold:






Quote:



In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 777 x 100 oz = 77,700 oz, and then add the difference between the open interest for the front month of September (6) - the number of notices served upon today (5) x 100 oz = 77,800 oz or 2.42 tonnes).




Thus: September standings:777 contracts x 100 oz = 77,700 oz + (6-5) =


77,800 oz/ a loss of 700 oz from yesterday.























Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,049.00, up 1.06%. WTI November crude was 93.54 up 1.01. Brent crude was 97.00 down 0.09. The spread between Brent and WTI was 3.46 down 1.10. The 30 year US Treasury bond was up 0.0000 at 3.2200. The 10 year T-Note was up 0.0300 at 2.5400. The dollar was up 0.42 at 85.62. The PPT/Dow was 17113.15 up 167.35. Silver closed at 17.66 up 0.16. The GSR was 69.0487 down 0.7742 oz of silver per oz of gold. CIA's Facebook was 78.79 up 1.57 (2.03%). December wheat was up 0.25 at 474.250. December corn was down 3.00 at 323.00. December lean hogs were up 0.875 at 94.475. October feeder cattle were up 3.000 at 233.100. December copper was up 0.006 at 3.036. October natural gas was up 0.013 at 3.984. December coal was up 0.77 at 53.80.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Mon, Sep 29, 2014 - 11:53pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 29 Sep 2014

This is DayStar (DS) with the Monday Harvey Report.










News and Commentary










Mark O'Byrne (Goldcore): Gokhran precious metals has been buying gold bullion on the Russian market this year and has no plans to sell palladium from stock in 2014, Andrey Yurin, head of Gokran said. Gokhran’s palladium reserves are a state secret and analysts try to guess the level each year but they are widely believed to have been depleted according to Reuters. Gokhran was influential on global platinum group metals (PGMs) markets in the 1990s and 2000s, when its palladium stocks, accumulated during the 1970s and 1980s, came to the market, depressing prices. Gokhran is the State Precious Metals and Gems Repository which is a state institution under the Russian Ministry of Finance. It is responsible for the State Fund of Precious Metals and Precious Stones of the Russian Federation. It is responsible for the purchase, storage, sale and use of precious metals, precious stones, jewellery, rocks, and minerals by the State Fund. Palladium is already in a structural deficit and this new source of demand from Gokhran should result in palladium continuing to see gains in the coming months.






Harvey: GLD: We lost 1.20 tonnes of gold inventory at the GLD (inventory now at 772.25 tonnes). SLV: Very late Friday night we had another addition of 767,000 oz in silver inventory (inventory is now 346.011 million oz). GOFO is positive and increasing.




Goldcore on China gold market holiday: Demand for physical gold could be affected by the Chinese holiday period that begins this week, MKS note this morning. "Beginning on Wednesday this week we have Chinese Golden Week commencing, which will keep Chinese markets shut between 1-8 October," it said. "Given the natural support derived from Chinese physical demand, their absence over this period, combined with another strong payrolls figure expected this Friday, could heap added pressure on the gold. This is a very similar scenario to last year where gold was aggressively sold by speculators during the absence of the Chinese."










Chris Powell (GATA): London metals trader Andrew Maguire reports that the big bullion banks are unwinding their monetary metals positions on the Comex and that he expects a derivatives failure in the monetary metals by the end of the year. DS: Harvey Organ is also calling for a derivatives failure by the end of the year. He even said $10,000 for gold and $200 for silver by January 2015 on Greg Hunter's show. However, Jim Willie is quoting "The Voice" who says 1) China has gigantic stocks of legacy silver that are known, but not often considered and 2) Harvey is not factoring in China's need to unload USTs into hard assets. I would add, China is a player. The elites made them and they can break them. China will play ball with the satanists and do what they are told to keep the schedule. Lindsey Williams says 2015 is when the economy falls, and that is only 3 months away. I keep thinking back to the 2012 schedule that slipped because the elites discovered that there would be a divine intervention once the globalists began their planned slide into chaos, and they pulled back to evaluate how to respond to that. Two years later in this year of 2014, they decided to go for broke and deal with the divine intervention when it happened. So, if 2014 is 2012 delayed by two years, the plan was to have hyperinflation by Christmas with food on the shelf, but money worth so little that nobody could afford it. We could plausibly look for that to happen in 2014. There is also a repeated theme of snowmageddon with 20 times the normal snowfall along with great cold, mall attacks by terrorists and Ebola to add to our list of plausible catastrophies with these to be followed by a WWIII nuke attack, EMP, and reactor meltdown as sort of the icing on the cake.










Koos Jansen (via Zero Hedge): Whilst western media are still under the assumption Chinese gold demand is declining, based on data from the World Gold Council and net gold export from Hong Kong to China mainland, in reality demand is extremely strong. As I've previously written, the lower the price of gold will go the more physical gold will be purchased by the Chinese people, and the price of gold has been dropping since mid August. Remarkably the discount of Shanghai silver has stabilized over this period instead of declining. The trend has been a declining discount of silver in Shanghai (relative to London) when the silver price lowers, and vice versa. That trend seems to have been broken now. The discount of Shanghai silver - excluding 17 % VAT - closed at 4.8 % relative to London spot. Silver on the Shanghai Futures Exchange (SHFE) remained in backwardation throughout the past week. Ag futures on the SHFE have been trading in backwardation for 37 days in a row (since August 6). Silver inventory on the SHFE has dropped 9 % w/w, to 81 tonnes, the last data we have from the SGE is they hold 67 tonnes of silver inventory. I would like to stress that most physical silver in Shanghai is not traded over the SHFE or SGE but through the Shanghai White Platinum & Silver Exchange (WPSE). The SHFE and SGE are more for hedging and speculation. Silver volume traded on the SHFE was up 190 % w/w, at 67,328 tonnes from 23,23 tonnes (transcending Comex volumes). Volume on the SGE was up 284 % w/w, at 8,891 tonnes from 2,314. In the past week 44,459 tonnes of silver changed hands on the Comex. The Open Interest (OI) on the Comex dropped a little from 26,984 to 26,122. The SHFE OI jumped from 4,648 tonnes to 5,299. (all counted unilaterally, or single-sided) Harvey: Weekly demand for gold came in at an astonishingly high 51 tonnes. This equates to 7.3 tonnes per day on a 7 day week. The global mines produce 6.02 tonnes per day on a 7 day week (2200 tonnes ex China ex Russia.










Chris Powell (GATA): Bullion Vault research director Adrian Ash notes that the fourth European Central Bank Gold Agreement takes effect today, extends for five years, and removes any limits on gold sales by the 21 signatories while acknowledging that "they do not have any plans to sell significant amounts of gold," because the limits contained in predecessor agreements had come to look silly, such sales having ended long ago. From GATA's perspective the agreement's latest incarnation, announced in May, remains significant for two other reasons. That is, the agreement, renews the proclamation of conspiracy that Western financial news organizations and most purported gold market analysts refuse to see. "The signatories," the renewed agreement says, "will continue to coordinate their gold transactions so as to avoid market disturbances." And second, the U.S. Federal Reserve and the U.S. Treasury Department continue not to be signatories to the agreement and thus do not even pretend to want to avoid disturbing the gold market. The latest European Central Bank Gold Agreement is not "conspiracy theory" but conspiracy fact.














Sergey Glazyev (Russia in Global Affairs): The world needs a coalition of sound forces advocating stability -- in essence, a global anti-war coalition with a positive plan for rearranging the international financial and economic architecture on the principles of mutual benefit, fairness, and respect for national sovereignty. This coalition could be comprised of large independent states (BRICS); the developing world (most of Asia, Africa, and Latin America), which has been discriminated against in the current global financial and economic system; CIS countries interested in balanced development without conflicts; and those European nations not prepared to obey the disparaging U.S. diktat. The coalition should take measures to eliminate the fundamental causes of the global crisis, including: -- the uncontrolled issuance of global reserve currencies, which allows issuers to abuse their dominant position, thus increasing disproportions and destructive tendencies in the global financial and economic system; -- the inability of existing mechanisms regulating banking and financial institutions to ward off excessive risks and financial bubbles; -- an exhausted potential for growth within the prevailing technology-based economic system and lack of conditions for creating a new one, including insufficient investment for the broad use of basic technological solutions. Conditions must be created to allow the national fiscal authorities to lend money for building an economy based on new technologies and carrying out economic modernization, and to encourage innovation and business activities in areas of potential growth. DS: The Russians are players. They know what's coming. From Sergey's comments, you can see they know how to make the global economy flourish, and they have done the exact opposite to make it not flourish. You can see the logic to provide a reason to move toward a centralized government, controlled by strong men, purportedly interested in the welfare of the people. This logic could provide for the UN or the BIS to assume control for the world's own good, of course! Sergey's document is a wonderful example of the Hegelian dialectic. The first frame the agenda, set the thesis and the antithesis components and then synthesize a solution to get what they want.




DS: An audit the Fed bill passed the House by 333 to 92, wider than the margin it got when Ron Paul sponsored the last one. This one went to the Senate where it joins a 1000 other bills languishing in committee from which they will never emerge. Elizabeth Warren has joined forces with Rand Paul in vocally demanding an more rigorous audit of the Federal Reserve. IMO, the House can be bold, because they know it will never come out of committee for a vote in the Senate, and their bosses threw them a political bone upon which they can campaign. George Soros owns the Spanish company that counts votes using the electronic machines, so don't hold your breath for any hope in November. They will have their collapse and eat it too.






Chris Giles (Financial Times, London): Between 1999 and 2012---during the biggest bull market in gold in history, London [the red bars] was down every year. That's the 'negative price bias' in action. When they talk about rigging the gold market in London, it's not the individual fixes that matter, it's the negative bias between the morning and afternoon gold fixes that is the "fix"---and it's been negative for 39 years in a row. It's a good bet that around 90 percent of all the volume in gold [or any other commodity for that matter] occurs between 2:45 p.m. in Hong Kong---and the 3 p.m. BST gold fix in London.










Zero Hedge: Self-evidently, all the major economies are saturated with debt. Accordingly, central bank balance sheet expansion has lost its Keynesian magic entirely. Now the great sea of freshly minted liquidity simply fuels the carry trades as gamblers everywhere load up with any asset that generates a yield or short-run capital gain, and fund these bloated positions with cheap options and repo style finance. But here's the obvious thing. Central banks can't normalize interest rates - that is, allow the money markets to rise off the zero-bound - without triggering a violent unwind of the carry trades on which today's massive asset inflation is built. On the other hand, they can no longer stimulate GDP growth, either, because the credit expansion channel to the main street economy of households and business is blocked by the reality of peak debt. Yes, the era of Keynesian money printing is over and done. But don't wait for the small lady at the Fed to sing, either. DS: Jim Willie's "The Voice", says they are damaging the European economy to make the dollar look strong. They have cut off investments in America to keep the American economy from improving. They are making certain no one can make money in gold and silver. This is herding money into the dollar, stocks and bonds, and when they pull the plug, they will short it in offshore funds and get every bit of it. Right now they are trying to wring out the last of the physical gold and silver. When someone finally relinquishes their PMs, these guys are standing there ready to buy it.


















This Will Not End Well (In the Short Term)




















Glenn Canady (Summary of Lindsey's latest material): Lindsey Williams says he will not be doing any more radio shows in the future. He knows more than 99% of the talk show hosts out there, but if he says what he knows, they will kill him. Lindsey does not know how bad Ebola will get. On one hand, it's population control. On the other hand, it is a scare tactic to cause people to do what the elites want. [ DS: Snowmageddon would have the effect of minimizing the Ebola outbreak since snow would restrict commerce and schools and reduce the spread. ] The “elites” strongly believe that divine intervention is coming in 2015. Even though, to you or me, that sounds like the hand of God giving a smackdown to those who actually deserve it, apparently when the “elites” use that phrase, it most likely means disaster for ordinary people, in order to move them to repent. Lindsey says that he discussed divine intervention with his “elite friend” at length, which means that he was probably told a lot more about it, than he can say at this point. (Remember how the CIA moved to Denver a few years ago?). LW says it was suggested that he read the book, “The Harbinger” by Johnathan Cahn. (But LW didn’t say who suggested he read it.) BRICS is being set up to bring about the new world reserve currency. LW shared some quotes from the IMF to that effect. I am leaving out the details and quotes that LW shared. The gist is, the U.S.A. is purposefully being left out of this plan. The U.S. Dollar is being excluded. The date of the financial collapse that the “elites” plan is September and October of 2015. It will be many times worse than the collapse of 2008. The moment you hear that interest rates are beginning to go up, it is all over. LW points out that he did not say there would be a “Great Depression.” We will see a major drop in the stock market. Then a collapse of the derivative market will take place. Since banks are heavily invested in the derivative market, many banks will go bankrupt. The “elites” want only ten banks to survive, the banks that are under their control. When that happens, IRAs, 401Ks, and pension funds will lose value drastically. Gold will skyrocket. The “elites” expect people to beg them for help, because people won’t have enough food to feed their families, or gas to put in their gas tanks. This is part of why they don’t expect riots in 2015. They expect begging, instead. Something is scheduled in 2015 for the housing market. 2015 will be another housing market collapse, like the one in 2010. The sanctions against Russia, problems with Russia, are being used to hasten the dollar’s troubles. Russia is getting out of the dollar. The problems in the Muslim world will be used to foment discord and war in 2015. https://www.rumormillnews.com/cgi-bin/forum.cgi?read=460


Dave Hodges: Something big is about to happen. How do I know? I know because people I have known for years have pointed to the last quarter of 2014 as the beginning of the end for many of our institutions and perhaps our very way of life. Some of my very best contacts have told me that it is time to stop warning the people, because it is now time to start hiding from the wrong people. My initial reaction is to not believe them, but there are too many well-placed sources to not take seriously. Along these lines, I recently received an email contact from Pastor Lindsay Williams regarding a survival tip for the difficult times ahead. Pastor Williams has been a guest on my show several times. I sent him back an email asking when he would like to come back on my show. He responded that he has stopped doing interviews. This is becoming an all-too familiar theme as this past weekend, one of my best insider sources told me he was going to stop disseminating information because what he had to say would have no impact on the coming events. As he stated “The train has its final destination and there is no stopping it. America had its chance to mobilize and try and stop the coming tyranny, but they could not get off the couch and stop watching the damn NFL. Well, the new NFL term stands for “Not For Long” and that is how much time this country has left. Americans have been wallowing in their own apathy and ignorance for decades. Soon, they will be wallowing in their own blood”. This is from a General who fought in two wars.


Henry Makow: Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913.) “Hypothecated” all property within the federal United States to the Board of Governors of the Federal Reserve, -in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their “subjects,” the 14th Amendment U.S. citizen, to the Federal Reserve System. In return, the Federal Reserve System agreed to extend the federal United States corporation all the credit “money substitute” it needed. Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn’t have any assets, they assigned the private property of their “economic slaves”, the U.S. citizens as collateral against the unpayable federal debt. They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers. Unwittingly, America has returned to its pre-American Revolution, feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the people have exchanged one master for another. This has been going on for over eighty years without the “informed knowledge” of the American people, without a voice protesting loud enough. Now it’s easy to grasp why America is fundamentally bankrupt.


X22Report: Euro zone worsens in September. Spain’s recovery is non existent. In the U.S. spending is up but only in auto sales. Real estate continues to decline, pending sales drop. Retail investors are piling into the stock market while institutional investors jump ship. Afghanistan is signing the bilateral security deal to ramp up troops. Russia and UK evacuating citizens from Yemen. U.S. airstrikes in Syria are destroying its infrastructure. Obama says that the U.S. cannot stabilize Syria with Assad in power. New crisis response team flying in 2100 soldiers to Kuwait and are now being put on alert. The White Widow is back and training suicide bombers.


Frank Brady (GateToLiberty): Until recently The Enemy's lies have contained enough truth (or partial truth) to be at least plausible. The most recent lies have no connection with reality. In fact, they convey the exact opposite of reality. The invasion by illegal aliens across the U.S./Mexican border happened, not because of a need to flee dangerous conditions south of the border, but because the United States government invited it and subsidized it. Russia did not commit aggression against the Ukraine. The United States government did by overthrowing the Ukraine's elected government and establishing a puppet regime in its stead. ISIS did not spring up unexpectedly and suddenly. The United States government and its "allies" created ISIS, trained it, armed it, and continue to "advise" it to this day. Geometrically these are the maximum possible lies. They are 180 degrees from the truth or, in other words, an infinite distance mathematically. The subtext embedded within the transmission of these lies carries the following messages: The hatred and contempt with which The Enemy regards each of us, humanity as a whole, Truth, the real world that God created, and God Himself have reached maximum intensity. The Enemy no longer feels bound by objective reality, is in total control of our world, and believes that humanity is powerless to oppose it. The power of the Enemy's lies is enabled and enhanced by the technology that defines our environment in the modern world, a technology that separates human kind from God's genuine reality. Years ago, Steve Quayle coined the term "techno-narcissism" to perfectly describe that environment. Smart phones, hi-definition television and its so-called "reality" shows, and violence-filled video games work collaboratively to construct a false and dehumanizing virtual reality. That virtual reality damages relationships in the "reality-based world", separating people from each other and ultimately from God. Truly Satan is loose in the land. Let us pray. DS: Indeed, let us pray. Let us fall to our knees and beg God to forgive us and to protect us from the utter disaster that our deeds warrant. Not because we deserve forgiveness, but because of His great name's sake lest the Adversary boast that he has overcome God in His last bastion of believers. Let us confess our wretched state of unbelief and degeneracy, watching porn and sipping our martinis, while the world dissolves into darkness without the knowledge of Christ and our own moral decay rivals that of Sodom and Gomorrah. Let us pray that a great revival sweeps the land where people return to God with their whole heart and thereby enable God to rescue a regenerate people from the disaster that He is righteously bringing upon the land.


Ecclesiastes 8:12 Though a sinner do evil an hundred times, and his days be prolonged, yet surely I know that it shall be well with them that fear God, which fear before him:
13 But it shall not be well with the wicked, neither shall he prolong his days, which are as a shadow; because he feareth not before God.












****************










Harvey's comments on Monday price action (basis 1:30 PM EST)










Quote:



Gold closed up $3.40 at $1217.50 (Comex to Comex closing time).


Silver was up 4 cents at $17.52.






In the access market tonight at 5:15 PM:
Gold: $1215.00


Silver: $17.49













Friday, Sep 26th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/09/sept-292014addition-of-silver-a...














Total, Sep (Silver), Oct (Gold), Nov (Silver) Open Interest










In silver:






Quote:



The total silver Comex OI rose by 435 contracts with silver up on Friday to the tune of 10 cents. Tonight the silver OI complex rests at 168,403 contracts. In ounces, this represents 842 million oz or 120.2% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. We have now exited the big delivery month of September as it is now off the board.


The next non active silver contract is October and here the OI fell by 28 contracts down to 415. November is also a non active delivery month and here the OI went up by one contract.




The December silver contract is a biggy contract month and tonight it rests at 120,789 contracts for a loss of 421 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 603 million oz or 86.1% of annual global production. This is totally unprecedented.













In Gold:






Quote:



The total gold Comex open interest fell dramatically today by 7306 contracts from 388,085 down to 380,779 with gold down by $7.10 on Friday. We generally witness the collapse of OI when an active delivery commences. The non active delivery month is September is now off the board. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 12,677 contracts down to 12,677. I think we will probably see 4,000 contracts stand or 400,000 oz. Tomorrow is first day notice so we should get a good idea of what will stand. However most players who are still willing to tackle the crooked Comex generally roll to December.













Volume










In Silver:






Quote:



The estimated volume today was poor at 25,711. The confirmed volume on Friday was good at 41,769 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was poor at 101,825 contracts. The confirmed volume on Friday was fair to good at 175,306.















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit: nil oz.




We had 1 dealer withdrawal:


i) Out of CNT: 605,156.45 oz.
Total dealer withdrawal: 605,156.45 oz.


We had 2 customer withdrawals:
i) Out of CNT: 81,791.56 oz
ii) Out of Delaware: 10,938.85 oz.
Total customer withdrawal: 92,730.410 oz.


We had 1 customer deposit:


i) Into Delaware: 5059.01 oz.
Total customer deposits: 5059.01 oz.




We had 2 adjustments:


i) Out of Delaware: 362,938.597 oz was adjusted out of the customer and this landed in the dealer account.


ii) Out of JPMorgan: 52,884.45 oz was adjusted out of the dealer and this landed in the customer account of JPMorgan.


Total dealer inventory: 66.193 million oz
Total of all silver inventory (dealer and customer) = 182.687 million oz.















In Gold Inventory:






Quote:





Today, we had zero dealer transactions today


Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 1 customer withdrawal:


i) Out of Manfra: 32.15 oz (1 Kilobar)




Total customer withdrawals: 32.15 oz.


We had 0 customer deposits:


Total customer deposit: nil oz




At the Comex on a sale of kilobars, the seller is credited with a fineness of 0.995.
Kilobars are the big ticket item for China. However kilobars cannot head over to Shanghai unless they are remelted with a fineness of.9999.
Why on earth is the Comex showing deposits and withdrawals in exact weight kilobars???




We had 1 adjustment:
i) Out of JPMorgan: We had 16,135.16 oz was adjusted out of the dealer and this landed into the customer account of JPMorgan.




Total Dealer inventory: 968,612.711 oz 30.12 tonnes
Total gold inventory (dealer and customer) = 9.286 million oz. (288.85) tonnes)
A few weeks ago We had total gold inventory of 303 tonnes, so during this short time period 14.2 tonnes have been transferred out. We will be watching this closely!




Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.




We had 1 notices served upon our longs for 100 oz of gold. In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 778 x 100 oz = 77,800 oz,




Thus: September final standings: 778 contracts x 100 oz = 77,800 oz = 77,800 oz. There was no gain from Friday.
Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.
















Delivery Notices










In silver:






Quote:



The CME reported that we had 17 notices filed for 85,000 oz today.













In gold:






Quote:



We had 1 notices served upon our longs for 100 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of September, I take the number of contracts served for the entire month at 3574 x 5,000 oz per contract or 17,870,000 ounces


Thus final standings for silver: 3574 notices x 5,000 oz per notice or 17,870,000 oz


We neither lost nor gained any silver ounces standing.


It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.


These look like a paper deposit/withdrawal where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.











In gold:






Quote:



In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 778 x 100 oz = 77,800 oz.


Thus: September final standings:778 contracts x 100 oz = 77,800 oz =


77,800 oz/no gain from Friday















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,062.00, up 1.24%. WTI November crude was 94.31 up 0.77. Brent crude was 97.20 up 0.20. The spread between Brent and WTI was 2.89 down 0.57. The 30 year US Treasury bond was down 0.0400 at 3.1800. The 10 year T-Note was down 0.0500 at 2.4900. The dollar was down 0.02 at 85.60. The PPT/Dow was 17071.22 down 41.93. Silver closed at 17.46 down 0.20. The GSR was 69.5876 up 0.5389 oz of silver per oz of gold. CIA's Facebook was 79.00 up 0.21 (0.27%). December wheat was up 7.00 at 481.250. December corn was up 2.75 at 325.75. December lean hogs were up 0.375 at 94.850. October feeder cattle were up 1.550 at 234.650. December copper was up 0.021 at 3.057. November natural gas was up 0.125 at 4.154. December coal was up 0.00 at 53.80.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Tue, Sep 30, 2014 - 12:52am
glimas
Offline
-
Phoenix, AZ
Joined: Sep 18, 2012
46
252

Thanks again

Daystar:

Thanks for your postings, remember there are those of us who lurk. Read you all the time and appreciate your time and effort greatly. Please keep up the good fight, Gods speed to you as always. BTW have been following you since your days on kitco. Hence you are making a difference even if you don't hear it all the time. Logged in to finally hat tip you and send this message to encourage you.

Glimas

Tue, Sep 30, 2014 - 10:48pm (Reply to #1310)
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

RE: Lurkers

Glimas, I so appreciate your kind words. Our way of life is ending and will not return in this age. If I have helped turn someone to God or helped someone to prepare for the awfulness that lies ahead, I am gratified to have been of service.

I check my mail at Kitco almost daily, so if anyone reading this wishes to correspond privately, the venue of DayStar at Kitco Private Messaging is available.

Thanks, Glimas. Pray that the remnant will be big and strong and not fear to stand and have the faith to claim this country back. God is not done with us yet, but He is about to do some serious purging of some old leaven. If anyone wants to be part of the great revival that God will eventually send, some serious prayer time and dead-serious repentance are in order. Our lives depend on utter serious service to God with all evil in our lives purged out and gone. God will be Number One in our lives or nothing. He is tired of waiting for repentance that has not come. He is going to fix that by beating the stuffing out of us, and those that get it and repent will live. Those that fail to grasp the obvious will be objects of wrath.

DayStar

Tue, Sep 30, 2014 - 11:04pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 30 Sep 2014

This is DayStar (DS) with the Tuesday Harvey Report.










News and Commentary






Mark O'Byrne (Goldcore): Singapore continues its push to be a global gold hub. The new exchange traded Singapore kilobar gold contract will launch in less than two weeks - on October 13. The new contract is a 1 kilogramme physically deliverable gold contract for the Asian and global wholesale gold market. In a joint statement, International Enterprise (IE) Singapore, Singapore Bullion Market Association (SBMA), Singapore Exchange (SGX) and the World Gold Council, announced the new contract yesterday. The contract will be traded on SGX, the first wholesale 25 kilobar gold contract to be offered globally, and this is a collaboration among the four parties. The SGX is Singapore’s securities and derivatives exchange and clearing and depository provider. This caters to the very high demand for physical gold in China and throughout Asia, which has increased significantly over the last decade. This new gold contract differs from others in that as well as acting as a price discovery benchmark for 1kg gold bars in the Asian region, it has been specifically designed to actually deliver gold to large buyers, wholesalers and institutions, presumably including central banks. Settlement of the contract is in gold 1kg bars and not in cash. A 1kg gold bar is 32.15 troy ounces. Six consecutive daily contracts will trade at the same time, so when one contract expires, another will be added.














Harvey: GLD lost 2.39 tonnes of gold inventory (inventory now at 769.86 tonnes). SLV: As of 6 pm est no change in silver inventory at the SLV. It looks like the bankers cannot raid the SLV for physical silver because there is none...just paper silver. Inventory is now 346.011 million oz. The reported GOFO is positive and increasing.






Chris Powell (GATA): Sprott Asset Management's John Embry said today that the U.S. government now is simply making up economic statistics. He notes the constant algorithmic futures trading smashing the price of silver and says he considers the metal to be the world's most undervalued asset.




Chris Powell (GATA): GoldMoney founder James Turk says Comex spot silver prices seem to be falsified and that the monetary metal is in backwardation. Turk also notes that the Financial Times has permitted itself to describe the investment world as "distorted," a more polite term than "manipulated."


Steve Lonegan (MarketWatch.com via GATA): Well-meaning conservative and libertarian groups beat the drum for something called "free markets." Liberal groups blame these "free markets" for many of the world's evils.
Here's the harsh reality neither side will tell you. There ain't no such thing as a "free market." The free market ceased to exist more than 40 years ago. Nixon drove a stake through its heart by shutting down the Bretton Woods world monetary system, without which free markets cannot exist. It cannot exist in its true form because the very money that is the foundation of our economy now is just pieces of paper: "legal tender for all debts public and private." Money's value is controlled not by the markets but by a federal agency, the Federal Reserve, that thinks it thereby can control the economy ... like tuning a carburetor on a car.

Alan Greenspan (via Foreign Affairs then GATA): If China were to convert a relatively modest part of its $4 trillion foreign exchange reserves into gold, the country’s currency could take on unexpected strength in today’s international financial system. It would be a gamble, of course, for China to use part of its reserves to buy enough gold bullion to displace the United States from its position as the world’s largest holder of monetary gold. (As of spring 2014, U.S. holdings amounted to $328 billion.) But the penalty for being wrong, in terms of lost interest and the cost of storage, would be modest. For the rest of the world, gold prices would certainly rise, but only during the period of accumulation. They would likely fall back once China reached its goal. DS: Isn't it interesting how Greenspan and Bernanke can say one thing when they are not chairman of the Fed and then do something entirely different when they become Chairman. Bernanke gave a speech before he became chairman in which he outlined the policies he would follow if he was selected. He carried out what he said he would do in that speech. Basically, it was a preview of QE and increasing the Fed's bond portfolio. The only thing he didn't do was devalue the dollar. That was delayed past his tenure by the elites' unexpected finding of a pending divine intervention. That will probably happen in 2015 or 2016.

Ned Naylor-Leyland (Quilter Cheviot Investment Management): Last week I wrote about financial journalist William Cohan's unpublished article about silver market manipulation and a regulatory cover-up. This week Cohan has claimed that lawyers for London metals trader and market-rigging whistleblower Andrew Maguire were stopping him from publishing his article. Cohan is demanding that the main perpetrator of metals manipulation (the institution also known as Voldemort) be named specifically in the article. Without this, Cohan says, he won't publish. Contrary to his claim, this was never agreed by Maguire's lawyers and for legal reasons cannot happen. But since everyone has a pretty good idea who the institution is anyway, I find it ridiculous that Cohan is making a demand that cannot be met and using that as a reason to remain mute. Contrary to what he appears to be saying, this detail wasn't agreed in the version of the article he wanted to put in newspapers. Cohan appears to want this all to go away, which it won't. I repeat: Cohan told me that his article "got killed everywhere I took it" and that it is "an amazing story that really should be out there." These statements and that he did see the evidence and did write a long expose of the subject are unavoidable. Cohan's thoughts on the matter, in light of his reputation, would be worthwhile indeed and metals investors deserve to have this subject cleared up. If, as well may be the case, silver and gold prices are being managed with not just impunity but also with the collusion of the government, then this truly is a monster of a story with far-reaching implications. Maguire has been relentless in pursuit of the prosecution of criminal behavior in the metals markets, so any suggestion that he is getting in the way of Cohan's publishing his article is really absurd. Such a complaint deflects the blame, as of course Cohan said and thought he could get the article published in the mainstream financial news media and then discovered otherwise. Who other than Maguire approached the government regulators with folders full of evidence, risked life and limb to do this, and will not let go of the subject despite a monstrous cover-up admitted by a former member of the U.S. Commodity Futures Trading Commission, Bart Chilton? The article Cohan wrote can and should be published. He already has mentioned one of the things he was told not to publish -- that other enforcement agencies have been involved -- and the other detail he is insisting on cannot be included. Enough of the obfuscation, please, Mr. Cohan. Let's see your article, on your own Internet site if you can't publish it elsewhere.

Koos Jansen (IGWT): China should accumulate 8,500 tonnes in official gold reserves, more than the US, according to Song Xin, President of the China Gold Association, General Manager of the China National Gold Group Corporation and Party Secretary. He wrote this in an opinion editorial published on Sina Finance July 30, 2014. Gold is moneypar excellence in all circumstances and will help support the renminbi to become an international currency as "gold forms the very material basis for modern fiat currencies", Song notes. In the short term the Chinese will not back the renminbi with gold (establish a fixed renminbi price for gold), butsupport the renminbi with an appropriate amount of gold in reserve to allot credibility and manage its value - in my humble opinion. The previous President of the China Gold Association (CGA), Sun Zhaoxue, was also the General Manager of the China National Gold Group Corporation, these jobs are apparently connected. Song took over from Sun as CGA President and Manager of China National Gold in February 2014. Remarkably, when Sun was in office he wrote equally candid articles (in Chinese) about the importance of gold for China's economy. Sun's most renowned article is titled "Building A Strong Economic And Financial Security Barrier For China", published on August 1, 2012, in Qiushi magazine, the main academic journal of the Chinese Communist Party’s Central Committee. The state will need to elevate gold to an equal strategic resource as oil. Currently, there are more and more people recognizing that the ‘gold is useless’ story contains too many lies. Gold now suffers from a ‘smokescreen’ designed by the US, which stores 74% of global official gold reserves, to put down other currencies and maintain the US Dollar hegemony. Going to the source, the rise of the US dollar and British pound, and later the euro currency, from a single country currency to a global or regional currency was supported by their huge gold reserves. Individual investment demand is an important component of China’s gold reserve system, we should encourage individual investment demand for gold. Practice shows that gold possession by citizens is an effective supplement to national reserves and is very important to national financial security.


Song Xin (General Manager of the China National Gold Group Corporation, Party Secretary and President of the China Gold Association): How to achieve growth in our gold reserve? Apart from the PBOC directly buying in the open market, we should use also use the following strategies: 1. Relax gold import controls, grant large scale gold enterprises permits to import gold. In 2013, our gold consumption reached 1176.4 tonnes. Compared to the 426 tonnes of local production, there is a shortage of 750 tonnes. To meet this gap, we presently let the 12 commercial banks with gold-trading rights import standard gold ingots. But these banks lack the ability to refine and assay gold, they can only import standardized gold, missing the large amount of non-standardized gold and wasting the international resources that we could reach. By relaxing import controls, the large-scale gold companies can then obtain this gold and use their own technology to refine it into standard quality gold. This can help meet demand in the market, or turn gold into official reserves as required. 2. Establish a gold reserve building fund. This can be seeded using capital from the State Treasury, and open it for participation by private-sector capital in the public. It should be controlled by the State and used to target diverse off-shore gold resources, acquire mines and raw gold and in so doing, extend our reach beyond our borders and add a layer of opaque reserves to otherwise standard reserve numbers. 3. Establish a Gold bank. We need to establish our gold bank as soon as possible, and enable it to break the barrier between the commodity and monetary world. It can further help us acquire reserves and give us more say and control in the gold market. It may be guided under the PBOC and led by the China Gold Association, involving leading gold industry companies and commercial banks, and it's business would include: gold pricing (fix), gold financing and leasing, gold-guaranteed payments, gold saving accounts, gold lending, gold production chain financing and issuance and trading of paper gold and other gold investments. This gold bank can then naturally use market-oriented methods to change commodity gold into monetary gold reserves, thus help us increase our strategic gold reserves.




Chris Powell (GATA): Interviewed by the Turkish financial journalist Erkan Oz at the Forex World conference in Istanbul last week, fund manager and author James G. Rickards remarked that central banks use the Bank for International Settlements for manipulating the gold market. As quoted by Oz, Rickards said the BIS is "the primary intermedia for manipulating the gold market. That is not a mystery. ... This BIS is manipulating the gold market. They are the intermedia between the central banks and commercial banks and other central banks. They have been doing that."




Harvey: From Lemetropole cafe's Rhody (?) who talks about the silver scandal and references myself along with Bill Holter: Lemetropole Cafe's Bryan: A few things are clear: December is a critical month for silver, and therefore gold. These guys think China is behind the huge, entrenched long position at Comex, now resting at 850 Moz. Comex, and probably the entire West does not have this silver. So, when China demands delivery, Comex will default. That, in turn will blow up gold. Apparently, as told by Harvey Organ and others, back in 2003, the United States exhausted its Strategic Stockpile of silver that it had been using to suppress the silver market. The U.S. approached China, which still had significant silver reserves at its central bank and persuaded them to lease their silver to the U.S. for ten years in exchange for Most Favoured Nation Status. How much silver was involved is unknown. It would be a lot.... This silver was sold to back futures contracts to sell down the market. In 2013, the lease was up and China asked for its silver back. The U.S. told them it was gone and defaulted. YOU DON’T DO THAT TO THE CHINESE! The Chinese began buying Comex futures and holding them, while the West blasted the paper silver market to try to force more silver into the market. The more the price of paper silver fell, the more the Chinese bought and held. (You must realize that this is the opposite of what usually happens in the futures market. Usually as the futures sell off, investors sell out and that causes the Open Interest to fall. When the OI reaches a low, the price does too, and then the market turns as speculative longs buy back the cheapened contracts... That hasn’t happened over the past year and a half or so. Now we sit with silver at extreme lows (down from $50) while open interest is at record highs) Increasingly, analysts believe that these persistent longs are the Chinese, wanting their silver back. When they demand delivery Comex will fold. Harvey thinks this will happen in December because that is when the last bit of silver in Shanghai gets delivered and since China needs over 100 Moz of silver for industrial consumption each year from abroad, Harvey thinks that’s when Comex will face the demand for delivery.






Bryan (Lemetropole Cafe): Silver was hit for 50 cents more this morning. Harvey thinks the suppression goes on until December and then we see the blow up. Ignore the spot price. It’s a fabrication. Keep stacking real ounces and avoid futures and derivative forms of gold and silver. This is all good advice. ALL the original directors of the CFTC are gone now. Rats leaving a sinking ship. The CFTC has colluded with the bullion banks and the Government to prolong and cover up the fraudulent pricing of silver particularly but also gold and other commodities. Ducking out is an attempt to distance these directors from the greatest financial scandal the world has ever seen. The futures market is a financial sewer. What is coming in December or early next year is likely to be very ugly. I hope Harvey Organ, and Bill Holter are wrong, but I very much fear they are right. If the past 15 years has taught me anything, it is that absolutely NOTHING is the way it seems. Fraud and deceit are what keep the West alive, and everyone except the 1% suffers. There are now too many victims for this system to survive. Perhaps the above will help in understanding Harvey Organ’s interview... It is worth a listen.... Bryan






Bill Holter (Miles Franklin): On a completely side note, my amigo Principe' [DS: a horse] is "forecasting" a hard winter here in South Texas. He started growing "pelito's" (little hairs) about 3 weeks ago which is very early and much earlier than last year which was the hardest winter I can ever remember. DS: I have seen two articles by meteorologists claiming that el Nino is shaping up to make this winter a Snowmageddon, especially in the Midwest and Northeast. The first article claimed this will be a winter for the record books with some places getting 20-50 times the amount of snow they normally get. With that quantity of snow, we can expect prolonged power outages with life threatening cold as a result. If you don't have a backup heat source, now would be a good time to figure one out.




Bill Holter (Miles Franklin): The derivatives market is so big (even after the BIS lowered their total estimate by half) it is truly a "tail that wags the dog itself"! Just the top 5 U.S. banks control $280 trillion worth of derivatives notional value, this is about equal to all debt and all stock values combined ...for the entire planet! When this manmade chain of financial instruments breaks, there is no entity on the planet big enough who can ride in on a white horse to save the situation. I wrote yesterday about how the public has become "comfortably numb", a break in derivatives will change ALL of this. The banks have bet their assets at least 30 times and their capital 100's of times over ...and with it "your" savings. The pyramid will come down and when it does you have to ask yourself "what will have value"? The answer of course is and always has been "money". Gold and silver have been real "money" for thousands of years, paper monies which have been "legislated" into having value will be broken as badly as the derivatives, the banks and most all markets. Do not try to time this event because being even 1 second too late will affect you for your entire lifetime.






Tyler Durden: It's a protest meme we have seen and heard around the world...Of those who support Occupy Central, 47 percent were under the age of 24. In addition to their concerns about democracy, Hong Kong’s younger generation are worried about low-paying jobs and increasing competition from mainland Chinese coming to the financial hub to work. Hong Kong University of Science and Technology professor David Zweig said the controversy surrounding the 2017 elections and concerns that Leung is taking the port city down the wrong path are not the only issues driving the protests. “I think the other issue is that there is a lot of anger. If you look at the data in general in Hong Kong, January this year, the anger at the central government, the anger at the local government, the concerns about future job prospects and all that and anxiety in general, this is worst than anytime since the major marches of 2003," Zweig said. "I think if we want something, sacrifices cannot be avoided. No pain, no gain, right? When I see the young people's passion, I support them from deep within my heart. I hope there won't be any bloodshed," said Fung. DS: War has always been a young man's occupation, because it requires such strenuous exertion. Most military members are retired by 40 with only a few senior officers being extended into their 50s and 60s. IMO, for whatever purpose, many of these protests are fomented by the elites stirring up strife, perhaps with a view toward obtaining justification for more authoritarian rule. The people cannot win against the present machine. They will be crushed.




Zero Hedge: Anyone confused why futures are doing their best to surge in the overnight session, the answer is simple: first it was Japan reporting the latest batch of atrocious economic data, which an hour ago was followed by Europe own abysmal econofreakshow, where Eurostat just reported that in September Eurozone inflation rose a meager 0.3% from a year ago, the lowest annual increase since October 2009.This marks the 12th straight month that Euro inflation has been below 1%, and far below the ECB's goal of 2% inflation. More importantly, it also shows that some 3 months of a sliding Euro have not only had zero impact on European export competitiveness, as the entire continent is careening into a triple dip recession, but that the ECB is completely powerless to create an inflationary spark, as not only is the bulk of the Eurozone flirting with disinflation but more and more European countries are in outright deflation. Also of note, while headline inflation was in line with expectations, it was core CPI that missed expectations of a 0.9% increase, and rose by only 0.7%, confirming that the most recent bout of deflation in Europe is about far more than just sliding energy prices. In fact for the culprit, perhaps look at Japan which is now exporting deflation hand over fist.




Martin Armstrong (Armstrong Economics Blog): Spain’s constitutional court has decided to suspend Catalonia’s referendum on independence following a request from the Spanish Prime Minister Mariano Rajoy. This ruthless undemocratic pretend leader jumps whatever height the EU Commission tells him to do betraying his own country to the rising dictatorship of Brussels. As reported, a court spokeswoman stated that the 12 judges reached the decision to suspend Catalonia’s November independence referendum after an hour-long emergency meeting. They too are a total disgrace to the very idea of democracy and the West should just stop the pretense that they are any different from Russia. Power devolves to dictatorship whenever there are no checks and balances. This is a simple truth of history without exceptions. DS: There must have been some exceptions sometime, because if there were never any freedom movements, no one would now be free for tyrants to enslave.

This Will Not End Well (In the Short Term)

Dave Hodges (TheCommonSenseShow): Taking down the power grid, according to both Congressman Trent Franks and the Naval War College would result in 90% of the country being dead within 24 months with 60% of the population dying off within a year. An EMP attack would completely subjugate the country, but at what cost? The infrastructure would be destroyed and it would take years to rebuild. An EMP attack upon the power grid would be the act of an extreme psychopathic mind. However, the major drawback to this event would be that if the intent was to create martial law as a prelude to World War III a destroyed infrastructure does not lend itself to a sustained war effort. DS: I do not foresee WWIII as a sustained event. I see a brief exchange of nuclear weapons followed by time to let nature take its course. I don't see why we need much of an excuse for martial law. We already live under a soft form of it. Albert Pike said the objective was to get rid of the nihilists and atheists and to turn the survivors among the Christians to the new world religion of the pure doctrine of Lucifer. They don't want people to survive. They want them dead. There is no better way to do it than an EMP coupled with pandemics. I see a scenario something like this: financial collapse followed by a series of natural disasters such as pandemics, earthquakes, tsunamis, asteroids, volcanoes and a nuclear war with an invasion. There will be an EMP. The invasion will be short lived as God will intervene after a series of plagues/natural disasters. America will be a haven for a few years after the intervention. Jews forced out of other countries will come here for refuge. The NWO will consolidate power elsewhere and then invade. This invasion will force the Jews and the descendants of the 10 lost tribes to reunite and flee. God will ultimately destroy the invading army, just like He did Pharaoh when Israel came out of Egypt, except this time, it will probably be a tsunami that comes up on land after them. United Israel will return to the Land that has lain mostly uninhabited since it was invaded by Iran and its allies. Israel will return to the land, divide it by lot, build the third temple and live in peace for a time until the Antichrist arises in the last three and a half years of the world. Enoch and Elijah will protect Israel during the reign of the Antichrist and will keep the people safe till the last week of this age.

Alex Jones (B4IN): Alex Jones takes on a potential Yellowstone eruption at the Supervolcano which is now being considered ‘active’ and an eruption imminent, warning us that things are ‘moving quicker’, though Alex quickly clarifies that ‘imminent’ means within the next 100 years. With all of the other ‘Earth changes’ happening around our world, is Jones’ a ‘prophetic seer’ in this video? Certainly only time will tell. https://beforeitsnews.com/earthquakes/2014/09/alex-jones-yellowstone-mov...

Lisa Haven (B4IN): It’s official! The first case of Ebola has been CONFIRMED in Dallas, Texas! Prepare! Prepare! Prepare! We knew it was coming (likely already here) however the main stream media has finally admitted its arrival. That fact aside I also came into some breaking information on Ebola and proof that the entire thing is not only man-engineered as a bio-weapon but also the people who are behind it Bill Gates and George Soros–two elite globalists who’s desire it is to depopulate the earth to 500 million persons and who will attempt to do so using the Ebola virus as their weapon and now we have proof! https://www.youtube.com/watch?v=4ec4uvUn-7s


Steve Quayle Alert: I WOULD SUGGEST THAT ALL CHURCHES THAT PREACH THE GOSPEL ESPECIALLY IN LARGER CITIES, INCREASE VIGILANCE AND SECURITY, HIRING ARMED GUARDS, OR OFF DUTY FRIENDLY LAW ENFORCEMENT OFFICERS. BE ESPECIALLY ON THE LOOK OUT FOR SURVEILLANCE VANS, AND SUV'S. NEW EVENTS IN THE PERSIAN GULF AND CHATTER INDICATE GO SIGNAL MAY HAVE BEEN GIVEN FOR HOSTILE ACTIONS TARGETING FELLOWSHIPS AND CONGREGATIONS- WAITING FOR VERIFICATION AND WILL POST WHEN ACQUIRED, VERIFICATION IS NOT OVER THE THREATS TO CHURCHES BUT INFO BEING COVERED UP ABOUT AN ATTACK THAT MAY BE AN ACT OF WAR AGAINST THE U.S., THAT HAS TAKEN PLACE THAT CAN START THE 'BALL ROLLING'-AS IN WW3! ALL BELIEVER'S SHOULD BE EXTRA CAUTIOUS FROM THIS NIGHT FORWARD (26 Sep 14) -BACKGROUND SOURCES WARNING THAT 'HEAD CHOPPERS'-ARE TARGETING CHURCHES AND CHRISTIANS.


Breitbart: The organization and collection of Ebola victims has been a significant hurdle in containing the disease, which has begun to spread in a more accelerated manner in Freetown, the capital of Liberia. The New York Times reports that according to the World Health Organization, 597 people have died in Sierra Leone of Ebola, while 1,940 have been infected. This is one third of the total deaths in the four African countries that have experienced Ebola deaths (the other three are Guinea, Liberia, and Nigeria). The spread is believe to have accelerated because of an inability on the part of the government to keep Ebola infected bodies away from those who had yet to come into contact with the virus. As individuals tried to move and bury their dead without adequate protection, they soon became contaminated. To attempt to reduce this threat, the government ordered the nation to shut down for three days this month, in which no one could leave their homes without special permission. In the process, they found 300 unaccounted-for bodies– which was non-negligible progress, but certainly insufficient given the prodigious number of unaccounted for Ebola patients that remain.


BBC: On Thursday night, government spokesman Albert Damantang Camara said eight bodies of journalists and health care workers had been found, including those of three journalists. He said they had been recovered from the septic tank of a primary school in the village, adding that the victims had been “killed in cold blood by the villagers.” The reason for the killings is unclear, but correspondents say many people in the region distrust health officials and have refused to co-operate with authorities, fearing that a diagnosis means certain death. Last month, riots erupted in the area of Guinea where the health team went missing after rumors that medics who were disinfecting a market were contaminating people. On Thursday night, government spokesman Albert Damantang Camara said eight bodies had been found, including those of three journalists. He said they had been recovered from the septic tank of a primary school in the village, adding that the victims had been “killed in cold blood by the villagers.” The reason for the killings is unclear, but correspondents say many people in the region distrust health officials and have refused to co-operate with authorities, fearing that a diagnosis means certain death. Last month, riots erupted in the area of Guinea where the health team went missing after rumors that medics who were disinfecting a market were contaminating people.



Fox: Survivor’s blood sold on Black Market: SEIRRA LEONE — As hospitals in nations hardest hit by Ebola struggle to keep up, desperate patients are turning to the black market to buy blood from survivors of the virus, the World Health Organization warned. The deadliest Ebola outbreak in history has killed at least 2,400 people in Guinea, Liberia and Sierra Leone — the countries most affected by the virus. Thousands more are infected, and new cases have emerged in Nigeria and Senegal. Blood from survivors, referred to as convalescent serum, is said to have antibodies that can fight the deadly virus. Though unproven, it has provided some promise in fighting a disease with no approved drug to treat it. “Studies suggest blood transfusions from survivors might prevent or treat Ebola virus infection in others, but the results of the studies are still difficult to interpret,” the WHO said. “It is not known whether antibodies in the plasma of survivors are sufficient to treat or prevent the disease. More research is needed.” Convalescent serum has been used to treat patients, including American aid worker Rick Sacra, who is hospitalized in Omaha, Nebraska. He got blood from Kent Brantly, a fellow American who survived Ebola. Both got infected when they were helping patients in Liberia.




****************


Harvey's comments on Tuesday price action (basis 1:30 PM EST)



Quote:



Gold closed down $7.00 at $1210.50 (Comex to Comex closing time).


Silver was down 52 cents at $17.00.






In the access market tonight at 5:15 PM:
Gold: $1208.00


Silver: $16.97













Monday, Sep 29th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/09/sept-30another-loss-of-239-tonn...




Total, Sep (Silver), Oct (Gold), Nov (Silver) Open Interest




In silver:


Quote:



The total silver Comex OI surprisingly rose by 1,469 contracts with silver up yesterday by a scant 4 cents. Tonight the silver OI complex rests at 169,872 contracts. In ounces, this represents 849 million oz or 121% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. We have now exited the big delivery month of September as it is now off the board.


The next non active silver contract is October and here the OI surprisingly fell by only 1 contract down to 414. I have never seen this happen before as we enter first day notice, the entire OI for the month stands. Is somebody here trying to send a message? Like China? November is also a non active delivery month and here the OI went down by 11 contracts.




The December silver contract is a biggy contract month and tonight it rests at 122,084 contracts for a gain of 1295 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 610 million oz or 87.1% of annual global production. This is totally unprecedented.













In Gold:






Quote:



The total gold Comex open interest fell again today by 2,468 contracts from 380,779 down to 378,311 with gold up $3.40 yesterday. We generally witness the collapse of OI when an active delivery commences. The non active delivery month is September is now off the board. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 4179 contracts down to 2,973. Today is first day notice so we should get a good idea of what will stand (see below). However most players who are still willing to tackle the crooked Comex generally roll to December.













Volume










In Silver:






Quote:



The estimated volume today was excellent at 62,633. The confirmed volume yesterday was poor at 29,387 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 177,713 contracts. The confirmed volume yesterday was poor at 116,498.















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit: nil oz.




We had 1 dealer withdrawal:


i) Out of CNT: 598,687.06 oz.
Total dealer withdrawal: 598,687.06 oz.


We had 3 customer withdrawals:
i) Out of CNT: 200.421.51 oz
ii) Out of HSBC:: 20,071.700 oz
iii) out of Scotia: 60,051.44 oz.
Total customer withdrawal: 280,544.65 oz.


We had 2 customer deposits:


i) Into brinks: 5038.910 oz
ii) Into HSBC: 380,708.75


total customer deposits: 385,747.660 oz.




We had 0 adjustments:


Total dealer inventory: 65.594 million oz
Total of all silver inventory (dealer and customer) = 182.194 million oz.















In Gold Inventory:






Quote:





Today, we had zero dealer transactions.


Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 2 customer withdrawal:


i) Out of Manfra: 160.75 oz (5 Kilobars???)
ii)Out of JPMorgan: 160,750.000 oz (5,000 Kilobars?????


Total customer withdrawals: 160,910.75 oz (5005 kilobars?)
We had 1 customer deposits:
i)Into Scotia: 1607.500 oz 50 kilobars????
Total customer deposit: 1607.500 oz


At the Comex on a sale of kilobars, the seller is credited with a fineness of.995.
Kilobars are the big ticket item for China. However kilobars cannot head over to Shanghai unless they are remelted with a fineness of.9999.
Why on earth is the Comex showing deposits and withdrawals in exact weight kilobars???
The Comex is supposed to deliver 100 oz bars. why all of a sudden do we witness kilobars taking 100% of the transactions?




We had 0 adjustments:






Total Dealer inventory: 961,184.386 oz 29.89 tonnes
Total gold inventory (dealer and customer) = 9.127 million oz. (283.89 tonnes)
A few weeks ago We had total gold inventory of 303 tonnes, so during this short time period 20 tonnes have been transferred out. We will be watching this closely!


Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 2 notices stopped by JPMorgan customer account.




We had 419 notices served upon our longs for 41900 oz of gold. In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 419 x 100 oz = 41,900 oz,to which I add the difference between the open interest for the front month of October (2973) minus the number of notices served upon today (419) x 100 oz = 297,300 oz or 9.24 tonnes




Thus: October initial standings: 419 contracts x 100 oz = 41900 oz + (2973) - (419)x 100 = 297,300 oz or 9.24 tonnes


Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 2 notices stopped by JPMorgan customer account.
















Delivery Notices










In silver:






Quote:



The CME reported that we had 61 notices filed for 305,000 oz today.













In gold:






Quote:



We had 419 notices served upon our longs for 41900 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 61 x 5,000 oz per contract or 305,000 ounces upon which I add the difference between the open interest for the front month of October (414) - the number of notices served upon today (61) x 5000 oz per contract


Thus initial standings for silver: 61 notices x 5,000 oz per notice or 305,000 oz + (414) - (61) x 5,000 oz = 2,070,000 oz


This level will rise as the month progresses.
It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500,000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.


These look like a paper deposit/withdrawal where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.











In gold:






Quote:



In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 419 x 100 oz = 41,900 oz,to which I add the difference between the open interest for the front month of October (2973) minus the number of notices served upon today (419) x 100 oz = 297,300 oz or 9.24 tonnes).




Thus: October initial standings:419 contracts x 100 oz = 41900 oz + (2973) - (419)x 100 = 297,300 oz or 9.24 tonnes).

















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,063.00, up 0.09%. WTI November crude was 91.37 down 2.17. Brent crude was 94.67 down 2.33. The spread between Brent and WTI was 3.30 down 0.16. The 30 year US Treasury bond was down 0.0100 at 3.2100. The 10 year T-Note was down 0.0300 at 2.5100. The dollar was up 0.31 at 85.93. The PPT/Dow was 17042.90 down 70.25. Silver closed at 16.97 down 0.69. The GSR was 71.2257 up 2.1770 oz of silver per oz of gold. CIA's Facebook was 79.04 up 0.25 (0.32%). December wheat was up 3.50 at 477.750. December corn was down 2.25 at 320.75. December lean hogs were up 0.050 at 94.525. October feeder cattle were up 2.325 at 235.425. December copper was down 0.029 at 3.008. November natural gas was up 0.092 at 4.121. December coal was down 0.15 at 53.65.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Wed, Oct 1, 2014 - 11:52pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 1 Oct 2014

This is DayStar (DS) with the Wednesday Harvey Report.

News and Commentary

Harvey: Oct 1/GLD declines again by 1.20 tonnes/inventory 768.66 tonnes/silver inventory rises late last night by 4.075 million oz to 350.086 million oz/silver and gold advance/Dow plummets/Hong Kong still in turmoil/


Mark O'Byrne (Goldcore): Greenspan, former Chairman of the Federal Reserve Board of the United States from 1987 to 2006, points out that if the world’s largest gold consumer, China, used a portion of its massive $4 trillion foreign exchange reserves to buy enough gold bullion it could displace the U.S. as the world’s largest holder of gold bullion. The U.S. holdings are believed to be just over 8,500 tonnes with an estimated value of just $328 billion as of spring 2014. Greenspan points out how gold is the ultimate form of money in the world and is “universally acceptable”. He concedes that “a return to the gold standard in any form is not on anybody’s horizon” right now but points out that if sovereign governments have financial crises, their fiat currencies may not be accepted as payment. He highlights that bullion holds special properties that no currency can claim, except maybe silver. The fiat currencies and moving exchange rates that make up our monetary system of today are backed by the tax raising abilities of government’s of sovereign nations. However, gold bullion for over 2000 years has been an “unquestioned acceptance as payment”, writes Greenspan. “No questions are raised when gold or direct claims to gold are offered in payment of an obligation; it was the only form of payment, for example, that exporters to Germany would accept as World War II was drawing to a close.” “Today, the acceptance of fiat money -- currency not backed by an asset of intrinsic value -- rests on the credit guarantee of sovereign nations endowed with effective taxing power, a guarantee that in crisis conditions has not always matched the universal acceptability of gold.” “If, in the words of the British economist John Maynard Keynes, gold were a “barbarous relic,” central banks around the world would not have so much of an asset whose rate of return, including storage costs, is negative.” In the article, he also suggests that China will find it hard to compete with the U.S. in the long term as China is an authoritarian, one party state and does not have free markets. This comparison is questionable given that many are concerned that the U.S. markets are no longer free. Markets see daily interventions and manipulations and are increasingly influenced by corporate and banking monopolies including the Federal Reserve itself and its continuing massive intervention in financial markets and the monetary system.

Chris Powell (GATA): China's foreign-exchange surplus is so much larger than the nominal value of all the official gold in the world that a mightly upward revaluation of the monetary metal is inevitable, Mike Kosares of Centennial Precious Metals in Denver writes today. "China," Kosares writes, "through its staunch advocacy of gold, might already be in the process of forcing the issue."


Harvey: GLD: We lost 1.20 tonnes of gold inventory at the GLD (inventory is now at 768.66 tonnes). SLV: As of late last night we had a huge gain of 4.075 million oz in silver inventory at the SLV. It looks like the bankers cannot raid the SLV for physical silver because there is none...just paper silver (inventory is now 350.086 million oz). GOFO is positive with a slight decrease.


John Rubino (via DollarCollapse blog): Reports of individuals snapping up near-record numbers of gold and silver coins are coming in from around the world: U.S. Mint American Eagle gold coin sales set to rise sharply in Sept. (Reuters) – The U.S. Mint has sold nearly 50,000 ounces of American Eagle gold coins so far in September, almost double its total in August, as a sharp pullback in gold prices and geopolitical tensions boosted interest for physical products from retail investors. With only six business days left until the end of September, sales of American Eagle bullion gold coins made for investors were 46,000 ounces, up 84 percent from August sales of 25,000 ounces, the latest U.S. Mint data showed on Monday. Record highs in U.S. equities also prompted some retail investors to buy precious metal products to diversify their portfolios, said David Beahm, vice president at New Orleans coin dealer Blanchard & Co. German Bullion Dealers Report Major Increase in Sales


Gold Reporter: Bullion dealers from all regions of Germany report that gold sales in the German bullion trade market surge since last week. Suppressed prices for gold and silver are obviously considered buying rates by German investors. The German precious metals trade reports a surge in sales. “For about a week we record considerably increased turnover again, which is now on previous year’s level, so it doubled compared to the recent months.”, Rene Lehman from the internet dealer Münzland in Dresden told Goldreporter. “We can confirm that customer demand has considerably increased in the recent days.“, said Dominik Kochmann, CEO of ESG Edelmetalle in Rheinstetten. Daniel Marburger, Director of Coininvest GmbH in Frankfurt/Main also stated that “In the past seven working days we have seen an extreme surge in demand.” Christian Brenner, Chief Executive of Philoro Edelmetalle GmbH: “Already in August we noticed an increase on orders compared to the previous months, but September… September beats it all. From a German viewpoint it’s the strongest month of 2014.” Australian sales of bullion gold and silver surged in August after falling to a three-month low in July, new figures from the Perth Mint of Australia show.




Reuters: China imports more gold for holiday; Indian demand set to climb – Top bullion consumer China has been importing more gold in September than in the previous month due to demand from retailers stocking up for the upcoming National Day holiday, market sources said. Demand in India – the second biggest buyer of the metal – is also set to pick up as the festival and wedding season kicked off this week. With gold trading close to a key psychological level of $1,200 an ounce, markets are keenly watching physical demand in Asia – the top consuming region – to see if it could lend support to prices. “The physical volumes have been high this month compared to August. I would say imports could be at least 30 percent higher than last month,” said a trader with one of the 15 importing banks in China. Russia Boosts Gold Reserves by $400M to Highest Since ’93. Russia added about 9.4 metric tons of gold valued at $400 million to reserves in July as it expanded holdings for a fourth consecutive month to the highest in at least two decades. There’s no guarantee that this buying, encouraging as it seems, is anything more than a blip. But in the aggregate it does seem like a lot of buyers, old and new, are finding current prices to be attractive. That’s how bottoms form and new bull markets begin.






Chris Powell (GATA): Fund manager Stephen Leeb said today that the next bottom in the monetary metals will commence a historic rally.




Daniel Schafer (Financial Times): Some of the world's largest banks have stopped contributing to dozens of financial benchmarks to avoid further litigation risk in the wake of the Libor and foreign exchange rate rigging scandals. Deutsche Bank, Citigroup, JPMorgan, and UBS, among others, have set up task forces to scrutinise submission processes for hundreds of benchmarks in everything from commodities to interbank lending as they seek to cut their litigation and regulatory risk, several people close to the situation said. The withdrawals have already helped speed up revamps of the silver and gold fixes and reforms to some interbank lending benchmarks so that they are based on actual transactions rather than bank submissions. But investors warned the crackdown could leave less liquid markets without any benchmark at all and make it impossible to determine whether they are getting fair prices on their derivatives and good returns on their investments. DS: This bank pulling back is just window dressing. "V" stated several months ago that there would be more regulations of banks and prosecutions over the coming months, and it is happening. The bankers only intend for 10 banks world wide to survive. That makes it one bank per global region (the ten kings). The banks are like suicide bombers. Each of them is wearing a suicide vest of derivatives, and the detonator cords are in the hands of neighboring banks. When one goes, they all will go, and that is by design. Out of the chaos of global bank failure, they intend to end up owning everything.




Chris Powell (GATA): Mining entrepreneur Keith Barron today said that suppression of monetary metals prices has been "mission critical" for the Federal Reserve, which has been "doing everything it can to halt true price discovery" in those markets. Barron also warns that the Ebola virus, which appeared in the United States this week, has the potential to collapse commerce.




Bill Holter (Miles Franklin): I believe the most significant news ... and not really even reported on, was an announcement out of China on Monday. https://www.thisismoney.co.uk/wires/reuters/article-2773377/China-starts-yuan-euro-direct-trading-FX-market.html The PBOC announced that direct trading of yuan for euros will be allowed in the FX markets. This move will allow Chinese/European trade and investment to move more freely ...and without the use of any dollars. We already knew of currency swaps set up with foreign trading partners by China, this latest news is more or less a "starting gun" being fired. Could this be the start of a "run" on dollars where if they are not needed they will be sent back to the States? This is truly huge news and how it is not reported on in the U.S. is simply amazing! Why would "protests for democracy" sprout out of nowhere ...and just before China announced the ability to trade yuan for euros? Do you see a pattern here where "destabilizing" an area could be disruptive to foreign currencies and supportive of the dollar? So what do all of these stories have in common? It's all about the dollar! All of it! Bill Gross obviously see's and feels the "flows" in the bond market. If the Fed has (is) truly tapered and no longer taking his "product" off his hands at a profit like they once did, he is simply jumping ship. China facilitating their trade with Europe without using any more dollars is certainly in their favor and dollar negative while "unrest" which certainly "smells" like it is being stirred up by the U.S. is dollar supportive. These events are in my opinion all about a currency war where it is the dollar pitted against everything else. At this point it is so important you understand how quickly the world (particularly "our" world if you are American) can and will change. The rest of the world is now overwhelmingly aligned against the U.S. and thus the dollar. The dollar has been our position of power and comparable to a heavyweight's overhand right. Unfortunately for the world as a whole, the odds of a nuclear event occurring when the dollar fails is high and growing. Once foreigners decide they no longer have a use for dollars...they will come flooding back to our shores. The Fed will have no choice but to "un taper" and monetize massively. The only problem is this, "how do you buy dollars with dollars" to sop up the supply?




Zero Hedge: In the past 24 hours we learned that Ebola, despite the fervent promises of the administration otherwise, has finally made landfall in the US in an uncontrolled manner; that, and of course, the Hong Kong protests which thanks to the national holiday today, will likely see the biggest participation yet. But what is most disturbing is what Goldman said in its summary of yesterday's trading day: "Shorts were pressed with the “most short” basket closing down -1.7%." That is truly terrifying because it actually makes sense: and nothing has made sense since the central banks made a mockery of capital markets six years ago. DS: The Dow actually had a bad day as well, and German bullion dealers are reporting huge sales in spite of the fact the dollar is up.




Tyler Durden: While Greek government yields (and political leaders) proclaim the troubled peripheral European nation is 'recovering', the risk of major political upheaval in Greece has not gone away ahead of next year's presidential vote next year. As Reuters notes, under growing pressure from anti-bailout leftists, Greek Prime Minister Antonis Samaras desperately needs a new narrative to get the backing of lawmakers and rally Greeks fed up with four years of austerity. We wish him luck as Keep Talking Greece notes, it is high time that the real data of the economic situation of the Greek society come to the surface and so it did this week. A report from Greece's State Budget Office found that three in every five Greeks, or some 6.3 million people, were living in poverty or under the threat of poverty in 2013 due to material deprivation and unemployment. Four years after a messy descent into emergency funding to stave off bankruptcy, Greece’s government is trying to pull the plug on a deeply unpopular bailout program to secure its own survival.




Zero Hedge: In a striking admission that Mario Draghi's "strategy" about the ECB's Private QE future, aka ABS monetization plan, is nothing short of converting Europe's central bank into a "bad bank" repository for trillions in bad and non-performing debt, the FT yesterday reported that "Mario Draghi is to push the European Central Bank to buy bundles of Greek and Cypriot bank loans with “junk” ratings, in a move that is set to exacerbate tensions between Germany and the bank." It is expected that the former Goldmanite will unveil details of a plan to buy hundreds of billions of euros’ worth of private-sector assets at tomorrow's ECB meeting.




Tyler Durden: If the European triple-dip alert was barely glowing a muted red until this morning, then following the latest German PMI data, which tumbled to 49.9 from 50.3, below the 50.3 consensus, and is the first contractionary print in 15 months, then they are now screaming a bright burgundy. And while the European recession has now clearly made its way to the core, it wasn't just Germany: French PMI continued to be solidly in a contracting phase, at 48.8, unchanged from the previous month, the overall European Manufacturing PMI also missed and declined, dropping from a flash reading 50.5 to only 50.3, which was a 14 month low, with the average PMI reading for Q3 the lowest since a year ago, and as MarkIt summarized, "Eurozone manufacturing edges closer to stagnation." Have no fear, though, Mario Draghi and his monetization of Greek Junk Bonds will fix everything!




TASS (MOSCOW): The Federation Council, the upper house of Russia’s parliament, unanimously ratified the Treaty on the Eurasian Economic Union (EEU) on Wednesday. The Treaty on the establishment of the Eurasian Economic Union was signed by the presidents of Russia, Belarus and Kazakhstan on May 29, 2014 in Astana. The agreement is the basic document defining the accords between Russia, Belarus and Kazakhstan for creating the EEU for the free movement of goods, services, capital and workforce and conducting coordinated, agreed or common policies in key sectors of the economy, such as energy, industry, agriculture and transport. The agreement stipulates the transition of Russia, Belarus and Kazakhstan to the next stage of integration after the Customs Union and the common economic space.




SCMP: Leung Chun-ying, Hong Kong's chief executive, has adopted a new strategy to marshal the city's widespread pro-democracy protests: allow the demonstrations to continue until the protesters tire or lose support from the wider public, according to a person familiar with the matter. The impetus to resolve the standoff peacefully has come from the Chinese government in Beijing, this person said. "Beijing has set a line to C.Y. You cannot open fire," this person said. "You must halt it in a peaceful way." The thinking behind the tactic is to resolve the standoff by peaceful means and comes after a move on Sunday to deploy tear gas backfired on the government. "The strategy is to control the situation and let them occupy until a time that the inconvenience caused to others in Hong Kong will swing the public opinion against Occupy or pressure the organizers to call it off," this person said. "They can wait to a time the public opinion will swing."












This Will Not End Well (In the Short Term)










Rick Perry (News Conference on Dallas Ebola case): Perry said they had the situation under control. They have the best facilities and processes in the world. However, this guy from Liberia came into a Dallas hospital and they did not communicate his recent arrival from Liberia and consequently diagnosed him with a upper respiratory infection, gave him some antibiotics and sent him home. They are not giving out his name so people who might have had contact with him can take precautions. They are not shutting down airline travel from Liberia. They have infected this man's family and the ambulance crew and potentially others that used the ambulance for the next two days. Finally, someone got his name (Thomas Eric Duncan), but it apparently was not officially released. Five kids exposed to the sick man went to school. Among workers in contact with monkeys or pigs infected with Reston ebolavirus, several infections have been documented in people who were clinically asymptomatic. Thus, RESTV appears less capable of causing disease in humans than other Ebola species. “However, the only available evidence available comes from healthy adult males. It would be premature to extrapolate the health effects of the virus to all population groups, such as immuno-compromised persons, persons with underlying medical conditions, pregnant women and children. More studies of RESTV are needed before definitive conclusions can be drawn about the pathogenicity and virulence of this virus in humans.” Now there is a suspected second case. To be honest, I don’t believe WHO is giving us all the details on how Ebola is transmitted. I do believe it is airborne so please take more precautions then what they say. Here is a helpful video on preventative actions you can take. https://www.youtube.com/watch?v=j8oT-sjZOZA

Glenn Canady (B4IN): Stew Webb, a federal whistleblower and writer for VeteransToday.com just told me some shocking information about Ebola from one of his whistleblower sources. This source has always given him accurate information in the past. Stew was told by the source that school age children have been in contact with the Ebola victim in Texas and that there are over 100 possible cases of ebola in the Dallas area now awaiting testing to confirm. Again, the source says 100 plus awaiting testing so it’s not confirmed yet but if there are more than 100 waiting for results you can be sure we have some new confirmed cases there. The source said the kids that were in contact with the Ebola victim had been going to school so clearly there is a danger here and I pray that it has not gotten into the schools. Dr. Croft Confirmed 30 Ebola Cases in US as of 8-8-14! Dr. William Croft who has been interviewed by Stew Webb many times told Stew on 8-8-14 that he had confirmed 30 cases of Ebola in the United States at that time! Dr. Croft had got confirmation from over 38 doctors and nurses on 8-8-14 there were 30 confirmed Ebola cases in the United States! Clearly, if there were 30 cases that he knew of at that time, then there are most likely hundreds of cases out there in the US at least. We do know one thing. The mainstream news will never tell us the truth, they only tell us what their masters want them to tell us. I’m sure they will keep us in the dark as long as they can and just dribble out cases and tell us everything is under control. I put this information out not to spread fear but to just give you other sources for information so you can get prepared regardless.


Susan Duclos (B4IN): “Ultimately, we are all connected by the air we breathe.” – CDC Director Tom Frieden, Press conference on the first diagnosed case of Ebola in the US on September 30, 2014. The quote above by the Center for Disease Control and Prevention (CDC) Director Tom Frieden, was brought to my attention by my partner Stefan aka Live Free or Die, and when heard in the context of the statement Frieden was giving about the first diagnosed Ebola patient in the Dallas, Texas, it seemed out of context within the confines of the speech he was giving in order to allay the fears of the public in regards to Ebola being in the US. As was explained in a prior ANP article, according to government reports, it takes one drop of aerosolized Ebola infected blood to infect 500,000 (half a million people) and using the disturbingly fast spread of the EV 68 virus hitting children in America as an example where since mid-August it is now in 41 states according to the CDC website, we get a good idea of fast and how far any infectious virus can spread. By November the next wave, and then comes the holiday season where people travel all across the country to be with family or friends anD airports have no effective means to “screen” for Ebola before allowing people to travel across the country. Now we come back full circle to CDC Director Tom Frieden’s ominous statement “Ultimately, we are all connected by the air we breathe.”


RT.com: According to statistics released by the CDC in conjunction with the World Health Organization, the virus has infected 6,574 people in West Africa, 3,091 of whom have died. On Friday, the WHO warned that the figures “vastly underestimate the true scale of the epidemic.”

TheEconomicCollapse.blog: The day that many of us hoped would never arrive is here. Ebola has come to America. Air travel between the United States and the countries of Liberia, Guinea and Sierra Leone should have been totally shut down except for absolutely essential personnel but it wasn’t. And now our nation may end up paying a great price as a result. On Tuesday, the CDC announced that there is a confirmed case of Ebola in Dallas, Texas. We know that this individual is a male and that he traveled by air from Liberia to Texas on September 19th. At that time, he was not exhibiting any symptoms. It is being reported that he started developing symptoms on September 24th and that he sought out treatment two days later. Incredibly, he was turned away and sent home. Then on September 28th he went to a hospital again and this time he was admitted for treatment. That means that he could have potentially been spreading Ebola to others for at least four full daysbefore finally getting treated at a hospital. Now he is in intensive care at Texas Health Presbyterian Hospital in Dallas. The CDC says that “there is no doubt that we will stop it here” and is promising that “it will not spread widely in this country”. The CDC better be right on both counts.

RT.Com: Roughly one-in-five American workers have been laid off during the last half-decade, according to a recent report, raising new doubts about exactly how secure job stability really is within the United States.
The report, published last week out of the John J. Heldrich Center for Workforce Development at Rutgers University, found that roughly 30 million Americans — or around 20 percent of the workforce — have lost a job during the last five years. Additionally, the pollsters found that Americans that unexpectedly end up out of work have a hard time recovering and regularly end up making less money once they’re rehired, if hired at all. A survey of 1,153 Americans taken by the Heldrich Center determined that around half of the laid-off workers who did manage to find work after being laid off were paid less than at their previous position, and a quarter said those new jobs were just temporary. “Laid-off workers who found another job seldom improved their financial situation,” the report found. “Two-thirds said their new jobs either paid less than their previous one (46%) or paid the same (21%).” “While the worst effects of the Great Recession are over for most Americans, the brutal realities of diminished living standards endure for the three million American workers who remain jobless years after they were laid off,” Heldrich Center Director Carl Van Horn, a co-author of the study, said in a statement. “These long-term unemployed workers have been left behind to fend for themselves as they struggle to pull their lives back together.” “While a majority of Americans were affected by the Great Recession, those who had long-term periods of unemployment experienced severe, negative changes in their standard of living,” the actual study concluded. “While job growth has been consistent, it has been insufficient to produce enough full-time jobs for everyone.”

Ezekiel 14:21 For thus saith the Lord GOD; How much more [would the righteous deliver themselves only] when I send my four sore judgments upon Jerusalem, the sword, and the famine, and the noisome beast, and the pestilence, to cut off from it man and beast?
22 Yet, behold, therein shall be left a remnant that shall be brought forth, both sons and daughters: behold, they shall come forth unto you, and ye shall see their way and their doings: and ye shall be comforted concerning the evil that I have brought upon Jerusalem, even concerning all that I have brought upon it.
23 And they shall comfort you, when ye see their ways and their doings: and ye shall know that I have not done without cause all that I have done in it, saith the Lord GOD.

****************

Harvey's comments on Wednesday price action (basis 1:30 PM EST)

Quote:



Gold closed down $7.00 at $1210.50 (Comex to Comex closing time).


Silver was down 52 cents at $17.00.

In the access market tonight at 5:15 PM:Gold: $1208.00


Silver: $16.97











Tuesday, Sep 30th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/09/sept-30another-loss-of-239-tonnes-of.html






Total, Sep (Silver), Oct (Gold), Nov (Silver) Open Interest

In silver:
Quote:

The total silver Comex OI surprisingly rose by 1,469 contracts with silver up yesterday by a scant 4 cents. Tonight the silver OI complex rests at 169,872 contracts. In ounces, this represents 849 million oz or 121% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. We have now exited the big delivery month of September as it is now off the board.


The next non active silver contract is October and here the OI surprisingly fell by only 1 contract down to 414. I have never seen this happen before as we enter first day notice, the entire OI for the month stands. Is somebody here trying to send a message? Like China? November is also a non active delivery month and here the OI went down by 11 contracts.

The December silver contract is a biggy contract month and tonight it rests at 122,084 contracts for a gain of 1295 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 610 million oz or 87.1% of annual global production. This is totally unprecedented.











In Gold:
Quote:

The total gold Comex open interest fell again today by 2,468 contracts from 380,779 down to 378,311 with gold up $3.40 yesterday. We generally witness the collapse of OI when an active delivery commences. The non active delivery month is September is now off the board. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 4179 contracts down to 2,973. Today is first day notice so we should get a good idea of what will stand (see below). However most players who are still willing to tackle the crooked Comex generally roll to December.




Volume

In Silver:

Quote:

The estimated volume today was excellent at 62,633. The confirmed volume yesterday was poor at 29,387 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.



In gold:
Quote:



The estimated volume today was fair at 177,713 contracts. The confirmed volume yesterday was poor at 116,498.


Inventory Numbers

In Silver Inventory:

Quote:

Today, we had 0 deposits into the dealer account:
Total dealer deposit:nil oz.

We had 1 dealer withdrawal:
i) Out of CNT: 598,687.06 oz.
Total dealer withdrawal: 598,687.06 oz.


We had 3 customer withdrawals:
i) Out of CNT: 200.421.51 oz
ii) Out of HSBC:: 20,071.700 oz
iii) out of Scotia: 60,051.44 oz.
Total customer withdrawal: 280,544.65 oz.


We had 2 customer deposits:
i) Into brinks: 5038.910 oz
ii) Into HSBC: 380,708.75
Total customer deposits: 385,747.660 oz.

We had 0 adjustments:

Total dealer inventory: 65.594 million oz
Total of all silver inventory (dealer and customer) = 182.194 million oz.

In Gold Inventory:

Quote:

Today, we had zero dealer transactions.


Total dealer withdrawal: nil oz
Total dealer deposit: nil oz

We had 2 customer withdrawals:
i) Out of Manfra: 160.75 oz (5 Kilobars???)
ii)Out of JPMorgan: 160,750.000 oz (5,000 Kilobars?????)
Total customer withdrawals: 160,910.75 oz (5005 kilobars?)


We had 1 customer deposit:
i)Into Scotia: 1607.500 oz 50 kilobars????
Total customer deposit: 1607.500 oz


At the Comex on a sale of kilobars, the seller is credited with a fineness of.995.
Kilobars are the big ticket item for China. However kilobars cannot head over to Shanghai unless they are remelted with a fineness of 0.9999.
Why on earth is the Comex showing deposits and withdrawals in exact weight kilobars???
The Comex is suppose to deliver 100 oz bars. Why all of a sudden do we witness kilobars taking 100% of the transactions?




We had 0 adjustments.

Total Dealer inventory: 961,184.386 oz 29.89 tonnes
Total gold inventory (dealer and customer) = 9.127 million oz. (283.89) tonnes)
A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 20 tonnes have been transferred out. We will be watching this closely!





Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 2 notices stopped by JPMorgan customer account.




We had 419 notices served upon our longs for 41900 oz of gold. In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 419 x 100 oz = 41,900 oz,to which I add the difference between the open interest for the front month of October (2973) minus the number of notices served upon today (419) x 100 oz = 297,300 oz or 9.24 tonnes




Thus: October initial standings: 419 contracts x 100 oz = 41900 oz + (2973) - (419)x 100 = 297,300 oz or 9.24 tonnes


Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 1 contract of which 0 notices were stopped (received) by JPMorgan dealer and 2 notices stopped by JPMorgan customer account.





Delivery Notices

In silver:

Quote:

The CME reported that we had 61 notices filed for 305,000 oz today.





In gold:
Quote:

We had 419 notices served upon our longs for 41900 oz of gold.


Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_London_and_Shanghai.htm#Comex_silver






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 61 x 5,000 oz per contract or 305,000 ounces upon which I add the difference between the open interest for the front month of October (414) - the number of notices served upon today (61) x 5000 oz per contract


Thus initial standings for silver: 61 notices x 5,000 oz per notice or 305,000 oz + (414) - (61) x 5,000 oz = 2,070,000 oz


this level will rise as the month progresses.
It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.


These look like a paper deposit/withdrawal where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.











In gold:






Quote:



In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 419 x 100 oz = 41,900 oz,to which I add the difference between the open interest for the front month of October (2973) minus the number of notices served upon today (419) x 100 oz = 297,300 oz or 9.24 tonnes).




Thus, October initial standings: 419 contracts x 100 oz = 41900 oz + (2973) - (419)x 100 = 297,300 oz or 9.24 tonnes).




Select Commodity Prices

The Bloomberg Baltic Dry Index (BDI) was 1,063.00, up 0.09%. WTI November crude was 90.79 down 0.58. Brent crude was 94.20 down 0.47. The spread between Brent and WTI was 3.41 up 0.11. The 30 year US Treasury bond was down 0.1000 at 3.1100. The 10 year T-Note was down 0.1100 at 2.4000. The dollar was down 0.04 at 85.89. The PPT/Dow was 16804.71 down 238.19. Silver closed at 17.18 up 0.21. The GSR was 70.6054 down 0.6203 oz of silver per oz of gold. CIA's Facebook was 76.55 down 2.49 (3.15%). December wheat was up 1.25 at 479.000. December corn was up 0.50 at 321.25. December lean hogs were up 0.000 at 94.525. October feeder cattle were up 0.000 at 235.425. December copper was down 0.001 at 3.008. November natural gas was up 0.000 at 4.121. December coal was up 0.08 at 53.73.

Thank you for reading the Harvey Report!


There is much more on Harvey's blog https://harveyorgan.blogspot.com.



Goooood day!


**************
Thu, Oct 2, 2014 - 10:59pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 2 Oct 2014

This is DayStar (DS) with the Thursday Harvey Report.










News and Commentary






Mark O'Byrne (GoldCore): The Perth Mint's sales of gold coins and bars hit their highest in nearly a year in September as a fall in U.S. dollar denominated gold led to some buyers to accumulate bullion on the dip and the risks of terrorism and war led to safe haven demand. Concerns about the global financial system and economy are also leading to safe haven demand. The Perth Mint runs the only gold refinery in Australia, the world's second-biggest gold producer after China. Sales of gold coins and minted bars rose to 68,781 ounces in September, their highest since October 2013, data available on the mint's website showed. Gold prices fell 6% in September, despite strong seasonality and increasing financial risks and concerns that geopolitical tensions may impact the global economy. Silver coin sales totalled 756,839 ounces last month,compared with 961,977.07 ounces in the same period last year. Yet silver had a far greater price fall than gold. This shows that the gold bullion buying was not solely people bargain hunting. Rather, gold demand was due to safe haven demand due to the increasing risk of terrorism and war in the Middle East and between the West and EU and Russia. Also underpinning bullion was a weaker U.S. dollar and sharp falls in global stocks on concerns of a new global financial crisis. Sharply lower airlines and transport-related shares after the first diagnosis of Ebola in the United States also helped send the S&P 500 index down more than 1%. Nouriel Roubini warned that the world is vulnerable to a new global financial crisis and markets are very complacent again. While geopolitical risks have multiplied, global markets have “remained buoyant, if not downright bubbly,” said economist Nouriel Roubini in a column published Tuesday.


















Harvey: GLD lost 1.19 tonnes of gold inventory (inventory now at 767.47 tonnes). SLV: as of 6 pm tonight we have no change in inventory. However we have Fred checking throughout the evening to see if these guys update their data. SLV inventory is now 350.086 million oz. Today we have an update on the Ebola entry into the USA. We also have stories on the huge downfall in stocks from Argentina. We have another hot spot for you tonight and that is Naples. We will also provide an update on the Hong Kong riots. Tomorrow is the jobs report so you know the crooks will be busy. GOFO is positive and decreasing.










Shivom Seth (Mineweb): Multi Commodity Exchange (MCX), India's leading commodity exchange, has launched fresh futures contracts in bullion, base metals and farm commodities for the 2015 calendar year, on October 1. The Forward Markets Commission, the regulator, has granted permission to the bourse to launch the new futures contracts for next year. New contracts in commodities such as gold, silver, aluminium, lead, nickel, zinc, copper, crude oil, crude palm oil, and other farm products has been launched. Traders said the commodity bourse could see a sizeable quantity of gold delivery early this month, with jewellers still encountering some difficulty in procuring the precious metal from banks. A sharp jump in warehouse stock position of gold was noticed on the MCX from 59 kilograms on September 27, to 594 kilograms on September 29. The MCX futures contract for gold expires on October 5. Bullion dealers have attributed the jump in delivery position to traders having earmarked gold for delivery that had been placed as collateral with the exchange, to be able to trade on it. MCX may help meet part of the festive need for gold, traders said, adding that the MCX, which has largely generated business volumes from bullion and metals, has launched gold contract for expiry in February and later months. Silver contract have also been launched for expiry in March, May, July and September next year. 'Silver Mini' contract would close in February, April, June and August of next year, while 'Silver Micro' is for expiry in February, April and June, the exchange said. 'Silver 1000' contract has been launched for expiry in January and later months till September, a note from the exchange added.










Phoebe Sedgman (Bloomberg News): Gold sales from Australia's Perth Mint, which refines all the bullion output in the world's second-biggest producer, climbed 89 percent in September to the highest level in almost a year as prices declined. Sales of gold coins and minted bars rose to 68,781 ounces from 36,369 ounces in August and the most since October 2013, according to data from the mint compiled by Bloomberg News. Sales were about 68,487 ounces in September 2013, data show.






Chris Powell: Hong Kong trader William Kaye says today that demand for gold is high in Asia, contrary to some reports in the West, and this offtake will blunt the paper trading of the gold price suppression policy in the West.




Bill Holter (Miles Franklin): I believe the Chinese already have 8,000 tons of gold more or less (not including the Elders gold). They know for a fact that much of what they own came from the U.S. (and let's not forget German gold held at the Fed). China's accumulation could have only come from one place. It had to come from "where" it was previously held since China has purchased more than was available by current production. I believe China floated the 8,500 ton number in preparation for making a global bid for gold. It would not surprise me to see China say something like "we will buy any and all gold at $4,000 per ounce until further notice". This would surely accumulate gold and eventually the selling would dry up. I believe they would then raise their bid and attract more gold. Maybe their total would amount to 15,000 tons or even the 20,000 tons the U.S. had before the 1960's, where would this put China in the financial world? It would put them well ahead of the U.S. and number two Germany combined ...if they really have the gold they claim to have.




Tyler Durden: The biggest market development overnight is the plunge in crude, with both Brent and WTI plunging, the latter sliding under $90 for the first time in 17 months, extending yesterday's selloff after Saudi Aramco cut Arab Light OSP in Asia to 2008 levels. Brent drops to lowest since June 2012. This also confirms that the global slowdown whose can is kicked every so often in a new bout of money printing, is arriving fast. That, and the imminent crackdown on today's Hong Kong protest will likely be the biggest stories of the day, even as the spread of Ebola to the US is sure to keep everyone on edge.




Zero Hedge: Someone in Japan finally read Zero Hedge articles from early 2013 which were warning about precisely the kind of hyperstagflation that Japan is currently experiencing. That someone happens to be the former finance minister Hirohisa Fujii who in an interview yesterday, said that further falls in the yen may lead to market intervention. You read that correct: not yen increases, falls! Which, coming just as the USDJPY touched 110 before plunging nearly 150 pips overnight, appears to have been heard loud and clear. Some of his other comments, which repeat everything we have said from Abenomics' Day1: BOJ’s policy of monetary easing leading to weak yen is mistaken. A weaker yen hurts general public through high prices for imported food and fuel. Delaying the sales-tax rise would lead to a collapse in JGB market and a rise in interest rates. Ironic how all these people wait until they are "former" this and that before telling the truth. Perhaps it was these comments that forced Sumitomo Mitsui to admit that the USD/JPY is entering a correction phase this month, says Shinji Kureda, head of FX trading, and as a result it could decline to 108.26, the low on Sept. 23 and possibly even 107.39, the high on September. Or far, far lower once the failure of Abenomics is finally filtered through the skulls of the fat fingering momos that make up the Japanese market. And since the Nikkei stock market is nothing but a derivative of the Yen, what happened overnight puts the CNBC article above in a further amusing light because as of a few hours ago the Nikkei closed, plunging by more than 420 points, or down 2.6%, the biggest drop in months, with the Topix crashing as much as 3%, the most since March 14, on volume that was 26% above the average, and wiping out all of September's gains in one session. Something else those who acted on the CNBC article did not anticipate: all 33 industry groups down, led by real estate and glass/ceramics. The biggest decliners Tokuyama -7.1%, Nippon Electric Glass -5.7%, Suzuki -5.7%. And now we sit back and await news of another half a trillion plus fat finger as the Bank of Japan desperately struggles to preserve confidence in a crashing economy and market.




Tyler Durden: As Mario Draghi promised, here are the full details of the ECB's asset-backed securities and covered bond purchase programs, as prepped by Blackrock. ECB announces operational details of asset-backed securities and covered bond purchase programmes. Programmes will last at least two years. Will enhance transmission of monetary policy, support provision of credit to the euro area economy and, as a result, provide further monetary policy accommodation. Eurosystem collateral framework is guiding principle for eligibility of assets for purchase. Asset purchases to start in fourth quarter 2014, starting with covered bonds in second-half of October.




Zero Hedge: Just a day after Argentine President Cristina Kirchner, in a televised speech, accused central bank employees of helping local bankers to speculate against the Argentine peso in hopes of forcing the government to devalue the currency, Juan Carlos Fabrega - the head of Argentina's Central Bank - has quit. As WSJ reports, unable to borrow abroad due to a legal dispute with creditors, Mrs. Kirchner has relied on money printing to cover spending deficits at the expense of inflation that is thought to be around 40%; and it appears the sanity of Mr. Fabrega was too much to bear for Kirchner (and Kiciloff - who had reportedly clashed with the Central Banker also). The reaction - not good - the stock index collapsed over 8%, bond yields spiked and the black-market peso dumped to record lows at 15.65 to the USD (drastically worse than the 8.51 official peso rate). Fabrega’s departure is "Not a good sign," said Alberto Ramos, a Goldman Sachs analyst Alberto Ramos, Reuters reports. "Fabrega was perceived to be a moderating voice and someone that really understood financial market dynamics." The Argentina MERVAL stock index is down 16.5% since yesterday's news of the resignation of the last voice of reason among Argentina's policy-makers. This is the MERVAL's worst 2-day drop in 6 years. What some money-printing gives, too much money-printing takes away.




Zero Hedge: August factory orders miss consensus and actually plunged the most on record. Surprised? Following last month's 10.5% record rise in Factory Orders, August just printed -10.1% MoM - the biggest drop on record. While some give-back was excpected this is notably worse than the expected drop of -9.5% (the biggest miss since January 2014). Worse still durables orders cratered 18.4% (and non-durables dropped 0.4%) MoM and ex-transports dropped 0.1% - the 3rd drop in the last 4 months. So - in summary - last month saw a $56 billion rise and this month saw a $55.8 billion drop - 'economic growth' roundtripped... as inventories rose 0.1% and shipments fell 1%.








This Will Not End Well (In the Short Term)










Dave Hodges (TheCommonSenseShow): The patient, identified by The Associated Press as Thomas Eric Duncan of Liberia, arrived in the U.S. on September 20th to visit family. When Duncan arrived in the U.S., he was not symptomatic. In other words, Duncan was asymptomatic, meaning that even though he was not actively manifesting symptoms, he was still contagious. In addition to local health authorities, the CDC has rushed 10 specialists to Dallas to assist in the assessment, treatment and quarantine of Duncan. The CDC is pulling out the stops in order to give the illusion that they are on top of the problem and nobody has anything to worry about. There are reports coming in from around the country which strongly suggest that the publics’ health is not a priority with the CDC and Ebola potentially threatens to spread far and wide because of the CDC’s and the Obama administration’s inactivity in this matter. Why isn’t the CDC helping in Payson, Arizona? His name is Alan Mann and for the next 18 days, Mr. Mann is potentially a health risk to his community in Payson, Arizona. Mr. Mann is a servant of God and he was carrying out his Christian duty by preaching in Liberia, where there are Ebola outbreaks. Mr. Mann boarded a plane and flew, without restriction, to Brussels. From Brussels he flew to Phoenix and nobody in an official capacity has checked to see if Mr. Mann is a carrier of the Ebola virus. After what has just happened in Dallas, this is the ultimate in governmental irresponsibility. Soon, we will all forget about Mr. Mann because I have received similar information, yesterday, from a health care worker in Portland and a person with an Ebola transmission story from New York City. Yesterday, The Common Sense Show was also contacted by Sherry Edwards, the research director for The Institute of BioAcoustic Biology & Sound Health. Ms. Edwards stated in the email regarding the Ebola outbreak: “…I think your audience needs to hear this and become involved. We tested people today in NH, CA, TX, Ohio and several from Africa. We are being exposed some way – all the same across the country this looks very man-made…” For now, the CDC is missing in action.










Michael Snyder (TheEconomicCollapseBlog): The incubation period for Ebola is two days. As many as 20 days can pass before symptoms show up. That means that an individual could be carrying the virus for two weeks or longer and not even know it, much less have it show up via thermal scan. So what good are these scanners? Let us pray that this is just one isolated case and that there will not be a major outbreak in this nation. Because if cases do start popping up around the country, fear will spread like wildfire and we could potentially be facing the greatest health crisis that any of us have ever seen. One of the individuals that successfully survived this disease was Dr. Kent Brantly. I think that the following quote from him really does a great job of summarizing what we are potentially facing..."Many have used the analogy of a fire burning out of control to describe this unprecedented Ebola outbreak," Brantly said. "Indeed it is a fire—it is a fire straight from the pit of hell. We cannot fool ourselves into thinking that the vast moat of the Atlantic Ocean will protect us from the flames of this fire. Instead, we must mobilize the resources ... to keep entire nations from being reduced to ashes." A virus like this could change everything if it starts circulating widely.




Tyler Durden: Despite promises by all asunder that any Ebola epidemic in America will be "contained" the dreadful news this morning appears to confirm this is not the case. From one patient, Eric Duncan, just 2 days ago, to 4 schools and 18 people yesterday (according to Texas Governor Rick Perry) to today where NBC News has confirmed with the Dallas county health and human services that 80 people came into contact with the Dallas Ebola patient or his family (including 12-18 direct). The ambulance workers are also under close watch after Duncan vomited on the ground outside an apartment complex as he was bundled into an ambulance. In addition, CBS is reporting one possible Ebola patient in isolation in Hawaii. Contained? Perhaps it is time to rethink the ethics of disease control once again.








Susan Duclos (B4IN): David Vose issues a “worldwide warning” stating the elite are now actively preparing for an earthwide catastrophe, where the “richest” people in the world are plotting the end of the world as we know it. Starting in Africa, according to Vose, their plans include eradicating the majority of Earth’s population, leaving only their own people, who they believe are superior. Vose also believes, and offers his case in the video below, that Africans, Latinos and Asians are first on the elites list. One might think this is simply a conspiracy, but consider the major missteps already being seen and reported on in the MSM, and add that to the warnings we have received previously that all of what we are seeing has been done on purpose as part of the depopulation agenda. With new reports coming out fast and furiously about Ebola, mistakes and outright lunacy, one has to at least consider that it all cannot be “accidents” and it is deliberate.










WYFF (Radio): U.S. News cameraman contracts Ebola: An American cameraman working for NBC News in Liberia has tested positive for Ebola, the network reported Thursday. He will return to the United States for treatment. The freelance cameramen, 33, was hired Tuesday and came down with symptoms on Wednesday, NBC News reported. The network said it was withholding his name at his family’s request.










Town Hall (AP): The UN refuses to ban flights from Ebola-infected countries. The spokesman for the U.N. secretary-general says the United Nations believes air travel to and from the West African countries affected by the Ebola virus should continue despite the first reported case in the United States. Stephane Dujarric told reporters Thursday that “it’s very important not to isolate these countries” as it would worsen their political and economic situations. He says aid groups need access to the region. The first reported U.S. case involves a man who flew from Liberia to visit relatives. His travel took him through Brussels and Washington before reaching Texas. Dujarric emphasized the importance of screening at travelers’ departure and arrival. The United Nations has spoken out repeatedly against travel restrictions on the Ebola-affected countries. The U.N. has lost one staffer in Liberia to “probable” Ebola.






BBC (Daily Mail): Health fiasco--Ebola patient was vomiting in ambulance, five children were exposed from 4 different schools, took at least 3 flights. "We have it under control" - Gov Perry. :-0




JPMorgan Chase & Co. says that this summer's cyberattack affected 76 million households and seven million small businesses. Customer information including names, addresses, phone numbers and email addresses could have been 'compromised', according to a document sent to the Securities and Exchange Commission (SEC). The 'previously disclosed attack', which took place in July, also impacted internal data held by the New York-based bank relating to users. However the firm says there is no evidence that account information, such as account numbers, passwords or Social Security numbers, was stolen, meaning customers' money is safe. The bank says it has not seen any unusual customer fraud related to the hack. They added that customers who report unauthorized transactions to them will not be liable.




John Little (OmegaShock.com): We will not know for sure that Ebola is airborne until Winter comes. Influenza IS an airborne virus, but even that virus is more commonly transmitted via droplet. Why Winter? Because such viruses are often not airborne until cold weather comes – allowing the virus to be suspended in colder, denser air. That’s why Winter will be the test. We’ll see. But, even if Ebola ISN’T an airborne disease, it could still kill millions of Americans over the coming months. And, if THAT doesn’t do the trick, the elites will have another bio-weapon to try, or they will choose a different route, altogether. The point is that that they either want you under their direct control, or dead. And, you want to be in neither of those situations. So, what’s the answer? History DOES provide some examples of how people reacted to threats like this. One of the biggest examples is the Church. Christians have been persecuted for two thousand years, and it is impossible to count how many have died. How did our brethren react to this very real threat? Those really were the only two options that they had, and depending on their circumstances, they chose one or the other – or both. And, depending on your situation, you will need to make the same choices. I DO believe that it is permissible to take a life in self-defense, or in defense of your family or community – when there is no other alternative. When a robber comes into your home, you are to shoot – and that means shoot-to-kill. Anything else is a fool’s errand. Should anyone enter my home while I am there, without my permission, a death certificate will be issued. But, I will do everything in my power to avoid having to kill someone. I guess that you could say that the locks on my door are to help protect me from having to choose deadly options. So, this is the choice. Do you run? or… Do you Fight? And, I believe that it really does depend upon your situation. If you are in a place where it will be hard for the elites to kill you, then you have the luxury of choosing to fight – if you wish. But, for the vast majority of us, the only reasonable option is to run. DS: John expresses my concerns pretty vividly. You might have some hope against the zombies, but against the government forces with their death toys intact, you will be slaughtered. They have weapons in space they haven't even unveiled yet. Until God gives us the victory by His divine intervention, it's like the old Orwell slogan: "Resistance is futile". We will be in slavery till God intervenes and sets us free. For many of us, flight will be essentially a death sentence. Cut off from support, we will will not be able to eat and the water will be contaminated. Weakened by hunger, our bodies will likely succumb to the first wafting virus. Unlike pre-WWII Germany, this time there is no place to run. America is the last foxhole. You can try Chile or Belize or Singapore, but ultimately trouble will find you any place on the planet, unless God rescues us. This is like Israel in Egypt. A pharaoh arose that knew not God, and they went into harsh slavery, but God raised up a deliverer. He will do so again. Perhaps the deliverer will even be Elijah returned, but there will be one that will lead Israel into the wilderness after plagues have devastated Pharaoh and Israel alike, and the deliverer will lead us to safety in the wilderness away from Pharaoh. Until then, since we traded our liberty for debauchery, we will live in slavery till we have learned our lesson. God will then deliver the ones that are left with His mighty hand and and an outstretched arm. It will be a great day. I pray that I will live to see it.

Isaiah 55:6 ¶Seek ye the LORD while he may be found, call ye upon him while he is near:

Psalms 2:12 Kiss the Son, lest he be angry, and ye perish from the way, when his wrath is kindled but a little. Blessed are all they that put their trust in him.












****************










Harvey's comments on Thursday price action (basis 1:30 PM EST)










Quote:



Gold closed down $0.40 at $1214.20 (Comex to Comex closing time).


Silver was down 21 cents at $17.00.






In the access market tonight at 5:15 PM:

Gold: $1214.50


Silver: $17.13













Wednesday, Oct 1st Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/10/october-2no-change-in-silver-inventory.html














Total, Oct (Gold), Nov (Silver), Dec (Gold, Silver) Open Interest










In silver:






Quote:



The total silver Comex OI fell slightly by 1,021 contracts with silver down yesterday by 21 cents. Tonight the silver OI complex rests at 172,201 contracts. In ounces, this represents 861 million oz or 123.00% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests.


The next non active silver contract is October and here the OI surprisingly fell by 149 contracts down to 213. We had 170 notices served upon yesterday so we gained another 21 contracts or 105,000 additional oz will stand for delivery. November is also a non active delivery month and here the OI went up by 3 contracts to 89.




The December silver contract is a biggy contract month and tonight it rests at 123,414 contracts for a loss of 1407 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 617 million oz or 88.1% of annual global production.













In Gold:






Quote:



The total gold Comex open interest rose again today by 599 contracts from 379,874 up to 380,473 with gold up by $4.10 yesterday. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 188 contracts down to 2,310. We had 57 notices filed yesterday so we lost 131 contracts or 13,100 oz will not stand for the October contract month.The November contract month saw its OI rise by one contract up to 247. The December contract rose by 681 contracts up to 278,900.













Volume










In Silver:






Quote:



The estimated volume today was good at 39,803. The confirmed volume yesterday was very good at 52,493 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 146,786 contracts. The confirmed volume yesterday was also fair at 152,317.















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit:nil oz.




We had 0 dealer withdrawal:


Total dealer withdrawal: nil oz.


We had 3 customer withdrawals:
i) Out of CNT: 21,136.40 oz
ii) JPMorgan: 52,844.45 oz
iii) Out of Scotia; 70,784.600 oz.
Total customer withdrawal: 144,805.45 oz oz




We had 1 customer deposit:


i) Into CNT: 1,989.90 oz.
Total customer deposits: 1989.90 oz.




We had 0 adjustments:


Total dealer inventory: 65.678 million oz
Total of all silver inventory (dealer and customer) = 181.408 million oz.















In Gold Inventory:






Quote:





Today, we had zero dealer transactions.

Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 1 customer withdrawal:


i) Out of JPMorgan: 16,135.16 oz


Total customer withdrawals: 16,135.16 oz.


We had 2 customer deposits:
i)Into Scotia: 11,929.325 oz
ii) Into Manfra: 803.75 oz
Total customer deposit: 13,568.975 oz






We had 1 adjustment:


i) Out of the HSBC vault: 695.910 oz was adjusted out of the dealer and this landed into the customer account at HSBC


Total Dealer inventory: 960,488.36 oz 29.875 tonnes
Total gold inventory (dealer and customer) = 9.144 million oz. (284.41) tonnes)
A few weeks ago We had total gold inventory of 303 tonnes, so during this short time period 20 tonnes have been transferred out. We will be watching this closely!


















Today, 0 notices were issued from JPMorgan dealer account and 2 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.




We had 0 notices served upon our longs for 5700 oz of gold. In order to calculate what will be standing for delivery in September, I take the number of contracts served so far this month at 476 x 100 oz = 47,600 oz,to which I add the difference between the open interest for the front month of October (2310) minus the number of notices served upon today (0) x 100 oz = 278,600 oz or 8.665 tonnes.


We lost 13,100 oz of gold standing tonight.




Thus: October initial standings:476 contracts x 100 oz = 47600 oz + (2310) - (0) x 100 = 278,600 oz or 8.665 tonnes






Today, 0 notices were issued from JPMorgan dealer account and 2 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.
















Delivery Notices










In silver:






Quote:



The CME reported that we had 0 notices filed for nil oz today.













In gold:






Quote:



We had 0 notices served upon our longs for 5700 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_London_and_Shanghai.htm#Comex_silver






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 231 x 5,000 oz per contract or 1,155,000 ounces upon which I add the difference between the open interest for the front month of October (213) - the number of notices served upon today (0) x 5000 oz per contract


Thus initial standings for silver: 231 notices x 5,000 oz per notice or 1,155,000 oz + (213) - (0) x 5,000 oz = 2,220,000 oz






We gained 21 contracts or an additional 105,000 oz will stand for the October silver contract.


This level will continue to rise as the month progresses.
It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.




These look like a paper deposit/withdrawal where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.











In gold:






Quote:



In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 476 x 100 oz = 47,600 oz,to which I add the difference between the open interest for the front month of October (2310) minus the number of notices served upon today (0) x 100 oz = 278,600 oz or 8.665tonnes.


We lost 13,100 oz of gold standing tonight.


Thus: October initial standings:476 contracts x 100 oz = 47600 oz + (2310) - (0)x 100 = 278,600 oz or 8.665 tonnes).



















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,041.00, down 1.33%. WTI November crude was 91.16 up 0.37. Brent crude was 93.42 down 0.78. The spread between Brent and WTI was 2.26 down 1.15. The 30 year US Treasury bond was up 0.0400 at 3.1500. The 10 year T-Note was up 0.0400 at 2.4400. The dollar was down 0.26 at 85.63. The PPT/Dow was 16801.05 down 3.66. Silver closed at 17.10 down 0.08. The GSR was 71.0117 up 0.4063 oz of silver per oz of gold. CIA's Facebook was 77.08 up 0.53 (0.69%). December wheat was up 3.75 at 482.750. December corn was up 1.50 at 322.75. December lean hogs were up 0.400 at 94.925. October feeder cattle were up 5.675 at 241.100. December copper was down 0.010 at 2.999. November natural gas was down 0.189 at 3.932. December coal was up 0.00 at 53.73.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Sun, Oct 5, 2014 - 10:27pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 5 Oct 2014

This is DayStar (DS) with the Friday Harvey Report.




FDIC Bank Seizures
The FDIC did not seize any banks this week.




Commitment of Traders


Gold: Our commercials who have been long in gold pitched 2735 contracts from their long side. Those commercials who have been short in gold covered (???) 3219 contracts from their short side. Conclusion: Cannot think of anything!


Silver: Commercials go net long by 1306 contracts and again silver falls.






News and Commentary




Mark O'Byrne (Goldcore): The current U.S. bond market faces a "liquidity cliff" and looks like an asset "bubble" that could burst when interest rates start to rise, according to the senior U.S. securities regulator. This is something we have been warning of in recent months. The consequences of the bursting of the bond bubble would be rising interest rates which would likely impact property and stock markets and benefit safe haven gold. Securities and Exchange Commission (SEC) Republican member Daniel Gallagher said over a year ago that the $3.7 trillion municipal bond market may suffer"Armageddon" once interest rates climb. The Fed has continued ultra loose monetary policies and debt monetisation for more than six years now. It has kept its benchmark interest rate near zero since December 2008. The Fed already employed three quantitative easing rounds buying up bonds to help stimulate the U.S. economy after the financial crisis. The Fed maintains that the program will end this month and many investors expect the Fed to move to a tighter monetary policy. However, we believe that if the Fed increases rates, it would likely lead to a sharp recession and possibly a Depression. It would also likely lead to serious volatility in markets and the risk of a triple stock, bond and property crash. There has been jitters in bond markets in recent days. PIMCO saw $448 million in fund outflows last Friday. Bill Gross’s departure from PIMCO to join Janus Capital Group is being blamed for some of the jitters but it may be that investors internationally are concerned about over valuation in bond markets and heading for the exits - before the stampede begins. Given the huge levels of government debt throughout the developing and developed world, global bond markets today are multiple times bigger than they were in the 1970s when Exter created his Inverted Golden Pyramid. In the event of another global financial crisis which we see as quite likely, capital will again flow from the riskier assets at the higher levels of the pyramid into the base of safe haven gold. While bonds were the beneficiary of the last financial crisis, they may be the nexus of the next financial crisis. The stock of assets in the world today is multiple times bigger than it was in the 1970s and thus, gold appears very undervalued. Should we see capital flight from U.S. and global bond markets, gold should see gains on a par with those seen in the second half of bull market in the 1970s. Before last week’s very slight fall, the dollar had risen for 10 weeks in a row, the first time for 40 years. It appears overvalued in the short term and looks ripe for a correction. Gold traditionally has a strong inverse correlation with the dollar. However, there have been bouts of dollar strength coinciding with gold strength which saw gold rise sharply in euros, pounds and other currencies. This is a possibility in the coming months. More likely are competitive currency devaluations and currency wars. Central banks are unlikely to allow one currency to rise too sharply versus another as it creates deflationary risks for the appreciating currencies economy. A resumption of currency wars seems likely either in Q4 or in 2015 and in the coming years.




Harvey: As I warned you yesterday night: "Tomorrow is the jobs report so you know the crooks will be busy." They did not disappoint us with the criminal activity. GLD: as of 5 PM EST no change at the GLD (inventory now at 767.47 tonnes. I will update GLD figures tomorrow night. SLV: as of 5 pm tonight we have a small change in inventory. We lost 152,000 oz, and this small sale generally pays for fees (inventory is now 349.934 million oz). GOFO was positive but decreasing.




Chris Powell: Swiss gold fund manager Egon von Greyerz of Matterhorn Asset Management today explains the objectives of Switzerland's gold referendum proposal, which will go to Swiss voters on November 30, and argues that repatriating the country's gold reserves and keeping in gold 20 percent of the country's total foreign exchange reserves will be good for the country as well as for gold.




Chris Powell: Swiss gold fund manager Egon von Greyerz said recently that all news was good news during the bull market in equities and now all news will be bad news in a bear market. And Hong Kong fund manager William Kaye says that former Federal Reserve Chairman Alan Greenspan's commentary in the new issue of Foreign Affairs, affirming gold's monetary function, is an indication that gold is returning to the world monetary system.




Chris Powell (GATA): Gold price suppression by Western central banks figures heavily in an interview this week with former Assistant U.S. Treasury Secretary Paul Craig Roberts by Geoff Rutherford of Sprott Money News. Gold price suppression is undertaken through naked shorting of the metal by bullion banks upon the encouragement of the Federal Reserve, Roberts says. He adds that it probably will continue until "the Shanghai Gold Exchange in which no naked shorts are possible, produces different prices, different behavior, or until the West is so depleted of gold that the risk of selling all those naked shorts that can't be covered becomes too high."




Harvey: Koos Jansen notes that 39 tonnes of gold have left the FRBNY in July and August together. His belief is that it is going to Germany. He also stated that the only 5 tonnes received by Germany had to be refined as it was of the coin melt variety. Gold at the FRBNY is earmarked gold and cannot be leased. If the German gold is in situ at the FRBNY then why not send the entire 500 tonnes or so kept by them? I doubt that this 70 tonnes of gold is heading to Germany, but who knows what is happening behind close doors at the FRBNY?




Dave Kranzler (IRD): We’re at the end of this fraudulent system and I honestly believe they are trying to shake the system of as much wealth as they can and put it in their own pockets before it collapses. That especially includes gold and silver – real money. But that part of the strategy is already back-firing because the US mint sold the most amount of gold eagles in Sept that it had sold all year except in January, which is always the highest sales month, and it sold – between Sept 30 and Oct 1 – more silver eagles than it sold in the entire months of July and August. That’s your indicator that the strategy to fleece the population of the gold and silver we can get our hands on is backfiring. Note: we can’t get our hands on the US Treasury gold because it ain’t there anymore – ask Germany. In fact, I would argue that the rush by the public into the metals that we’ve envisioned since 2001 is now starting. No one believes the bull**** coming from DC anymore – today’s employment report is exemplary of that – and I think the people who have cash to invest are starting to go physical. We are talking with a potential client who is moving several hundred thousand dollars of he and his wife’s money into bullion. They are leaving the stock and bond markets. See the silver eagle sales statistic. That’s not an outlier population statistic. Unlike 2008, when the public was dumping their coins, people are rushing to buy. I spoke to a coin dealer in Littleton 3 weeks ago and he can’t keep silver eagles in stock. If they can take gold and silver down to where both started in 2000, it means that our system is being incinerated and you probably don’t want to be in this country – or most places for that matter. If/when that happens, paper money or real money won’t do you any good anyway. Probably should have a cyanide pill around for that scenario.






Chris Williamson, Chief Economist at Markit (via Zero Hedge) said: “The PMI suggests the eurozonurozone economy remained stuck in a rut in the third quarter. After GDP stagnated in the second quarter, we can only expect modest growth of 0.2-0.3% in the third quarter based on these survey readings, with momentum being lost as we head into the final quarter of the year. “There are certainly pockets of growth: Ireland’s economy is recovering strongly, Spain is seeing a still-robust upturn and the German service sector is providing an important prop to growth in the region as a whole. But the overall picture is one of a euro area economy that is struggling against multiple headwinds. These include a lack of domestic demand in many countries, subdued bank lending, sanctions with Russia and a reluctance of companies to expand in the face of an uncertain economic outlook. “The survey showed growth of new orders sliding to the weakest for almost a year across the region as a whole, suggesting demand for goods and services is barely growing. Employment was held more or less unchanged again as a result, and a weakening in firms’ backlogs of orders suggests we could see headcounts start to fall again in coming months if this lack of demand persists. “The waning of growth signalled by the PMI will apply further pressure on the ECB to broaden the scope of its planned asset purchases, to not only buy riskier asset-backed securities but to also start purchasing government debt.”




AP: Hong Kong protesters shelve talks with government after mob tries to drive them from streets. It appears the government's "wait-'em-out" tactic is working (optically) as The WSJ reports, angry crowds (of pro-government gangs) descended on pro-democracy protesters in Hong Kong on Friday, causing clashes and threatening to derail talks with the government. After Leung's refusal to step-down ahead of the protesters' deadline, government officials called for dialog but OccupyCentral exclaimed "if the government does not immediately prevent the organized attacks on supporters of the Occupy movement, the students will call off dialogue on political reform with the government." Some protest opponents tore down banners with words calling for Mr. Leung to resign, while others removed tents set up by pro-democracy crowds to shelter themselves.




Zero Hedge: Day after day we are told of the ongoing success of the ongoing airstrikes of an ongoing coalition of allies fighting against ISIS. However, as ISW reports, on October 2, ISIS detonated three SVBIEDs in Hit, a city between Ramadi and Haditha, targeting security checkpoints at the western and eastern entrances of the city as well as the city center. Hit is one of the few remaining areas in the Thar Thar area of Anbar Province that is not under ISIS control. Local nationals report ISIS members moving freely around the city and black flags flying over government buildings. It appears Iraq is off the grid now and all Washington eyes are focused on Syria (and its Qatari pipeline).




Tyler Durden: Now that the seal has been broken, the American Ebola cases are coming fast and furious, and a few days after the first case of the deadly disease made its way to US soil, overnight we learned that an American cameraman helping to cover the Ebola outbreak in Liberia for NBC News has tested positive for the virus and will be flown back to the United States for treatment. The news broke late last night, when NBC reported that the freelancer, Ashoka Mukpo, 33, was hired Tuesday to be a second cameraman for NBC News Chief Medical Editor and Correspondent Dr. Nancy Snyderman. Snyderman is with three other NBC News employees on assignment in Monrovia, reporting on the Ebola outbreak.




Zero Hedge: If the August payroll print was only +142, since revised to +180, it was largely offset by the September jump, which saw some 248K jobs added int he month, beating expectations of a 215K print, with a net prior revision of +69K jobs. And while with the revision of the August data the near-record streak of 200K+ jobs numbers was broken, we now have the longest running stretch of positive monthly job gains in history. On the other hand, the unemployment rate slid to jujst 5.9% from 6.1%, the lowest since July 2008. While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million! DS: All it takes to see the economy is not improving is to look for a job. The young people, college graduates, people with MBAs, cannot find work. Even people with many years of exeperience are finding it increasingly difficult to find work.




Tyler Durden: The further one digs into today's "blockbuster" jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed male now in their mid-40's, the US workforce has never been older. Case in point: the September data confimed that the whopping surge in jobs... was thanks to your "grandparents" those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K.This was the biggest monthly jobs increase in the 55 and over age group since February! What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs. Of course, don't expect any of this to be mentioned on any financial entertainment outlets: it would spoil the party of today's "surging" jobs day.




Greg Hunter (USAWatchdog): Why is he so bullish? Kirby says, “The reason I say this is because I know people that are in the business of procuring (physical gold and silver) massive amounts with mega money behind them in the physical market, and I know these people are still accumulating everything they can lay their hands on. They can’t lay their hands on enough (metal) to satiate the resources they have to work in that area. Their ability to acquire physical metal is becoming harder and harder and harder as time goes on. This is in spite of paper prices being knocked down. It is in spite of business networks in the mainstream media . . . erroneously report that people want less physical bullion, and that’s why the price is going down. That is a lie. The reality is people who are in the market for physical metal can’t get enough. It is being misreported, and we are being sold a bill of goods by our mainstream media. The mainstream media is in bed with the ruling elites. At the end of the day, physical metal will trump the paper.” When does the paper manipulation in the gold and silver markets end? Kirby says, “I still think we see major dislocations before the end of the year. I believe people who have contracted for physical metal are going to be denied their deliveries before the end of the year. I think this will go very public, and it’s going to lay bare the abject fraud that has been occurring with the smash down in the paper price (of gold and silver.) The disconnect between the paper price and the lack of physical metal is going to manifest itself in a big way before the end of the year.” Kirby goes on to say that when gold and silver bullion contracts go unfilled with physical metal, the jilted buyers will go public in a big way, and Kirby predicts, “That’s how it ends, and I think it comes this year. . . . I do think the fuse is that short now.”




Zero Hedge: Interested why despite the euphoric headline NFP print, a cursory glance deeper inside the payrolls report reveals weakness after weakness, with both participation plunging again and wages the worst since last summer? Here is the answer: 4 of the top 5 largest job additions in September, retail trade, leisure and hospitality, education and health and temp help, were of the lowest quality, and paying, jobs possible. So yes, America added a whole lot of minimum wage waiters, store clerks, groundskeepers and temps: truly the stuff New Normal "recoveries" are made of.




This Will Not End Well (In The Short Term)




Hagmann and Hagmann: Time has run out. There is a three pronged attack under way. One is Ebola. The second is ISIS attacks on soft targets (schools, shopping centers, churches). The third is a stock market crash. The elites in the affected area such as Dallas are leaving for their country estates. Young men in inner cities are preparing to take up arms against America. This is with FBI cooperation. Some of these will be suicide viricides.




Michael Noonan: For as little as we know about the Rothschilds, their banking and social history, the unparalleled financial control they have exerted over the world, how they and the select, chosen moneychanger partners have wielded such utter and unfettered control over everyone’s lives is beyond the comprehension even of those within the system. The Jamie Diamonds, Lloyd Blankfeins, and their UK counterparts, while widely known to be in the upper echelons of power, these guys are still very well-paid “gofers” for the elites who will always remain in deep background. The point is, the level of controls is so great, the level of corruption so pervasive [no laws apply] that the extent of the depth to which control is exerted remains buried, yet this is the part of the [unknown] equation that has influenced the price of gold, probably for the past two-plus centuries, ever since Mayer Amschel Rothschild founded their banking dynasty. No one, absolutely no one has a handle on how the elites operate, or none has a complete picture or understanding of how control is so absolute when it seems so implausible. Almost everyone else deals with known factors of supply and demand and maintains a fairly healthy compliance for the powers that be: those governments “elected” and those that are installed, unelected, like the EU. Everyone knows that unicorns and mermaids “live” only in one’s imagination, and they are never considered are real. Yet, everyone believes in the similar fictions [mostly outright lies] espoused by governments and/or by central bankers, like Draghi, Cameron, ex-Fed chairman, Lying Ben Bernanke, or the layers of unelected bureaucrats like Van Rompuy, Tusk, et al. All heads of States are a given as puppets acting at the behest of the elites and are total liars. Unless and until people get a grip on the powers that control them, especially in the United States where people naively believe everything they hear and read from the establishment/news media, the elites will have no opposition. Fiat paper will be more “valued” than gold and silver, paper assets like stocks and bonds, retirement accounts will continue to be the go-to form of “asset holding,” until the day when the true worth, and there is none, of these paper assets will disappear. Read more at https://investmentwatchblog.com/gold-and-silver-elites-v-gold-still-no-contest/#3mkv0w2AC0gZTWZH.99




X22Report: Euro zone business growth is the weakest this year. Unemployment rate dropped to 5.9% as the labor participation rate drops to a 36 year low. US housing prices are rolling over. The US Government is pushing the fear on Ebola to remove the peoples rights. An additional 1,000 troops is now being sent to Liberia bringing to the total to 4,000. U.S. Government admits they are funding the protests in Hong Kong. The people in the middle east are taking their countries back and the U.S. waived the sanctions for children in the armed forces to issue these countries millions of dollars. Turkey just voted for a buffer – no – fly – zone exactly what the U.S. wanted. Read more at https://investmentwatchblog.com/manipulated-unemployment-rate-drops-as-the-economic-collapse-accelerates/#yX5DYvj37a0AiLBG.99




dw.de: Health officials have determined that dozens of people could have come into contact with the first known case of Ebola in the US. The infected man's family has also been ordered to remain in their home until October 19. On Thursday, reports from US media pointed to a greater exposure to Ebola in the northeastern region of Texas than had previously been thought. Dallas County health and human services said that up to 80 people had potentially been exposed to the virus, either by coming into contact with the infected man - now identified as Thomas Eric Duncan - or four members of his family. Texas health commissioner David Lakey also confirmed that the infected man's family members had been ordered to remain in their home until October 19.




Paul Craig Roberts (PaulCraigRoberts.org): It is amazing how the government manages to continue selling Brooklyn Bridges to a gullible public. Americans buy wars they don’t need and economic recoveries that do not exist. The best investment in America is a highly leveraged fund that invests only in large cap companies that are buying back their own stocks. Many of the firms repurchasing their stocks are borrowing in order to push up their stock prices, executive “performance bonuses,” and shareholders’ capital gains. The debt incurred will have to be serviced by future earnings. This is not a picture of capitalism that is driving the economy by investment. Neither is consumer spending driving the economy. The US Census Bureau’s 2013 Income and Poverty Report concludes that in 2013 real median household income was 8 percent below the amount in 2007, the year prior to the 2008 recession and has declined to the level in 1994, two decades ago! https://www.census.gov/content/dam/Census/library/publications/2014/demo/p60-249.pdf Even though real household income has not regained the pre-recession level and has declined to the level 20 years ago, the government and financial press claim that the economy has been in recovery since June 2009. Neither is an increase in consumer debt driving the economy. The only growth in personal debt is in student loans. Real retail sales (corrected with a non-rigged measure of inflation) remain at the level of the bottom of the recession in 2009. Macy’s , J.C. Penny’s, and Sears store closings are further evidence of the lack of retail sales growth, as is the fact that two of the three dollar store chains are in trouble. Walmart’s sales are declining. The basis of auto sales hype is subprime loans and leases taken by those who cannot qualify for a loan to purchase. Housing starts remain far below the pre-recession level, which is not surprising when available jobs are part-time with no benefits. Such jobs cannot support the formation of households and purchase of homes. Where does the government’s second quarter 2014 real GDP growth rate of 4.6 percent come from? It comes from an understated inflation measure and jiggled numbers. It is not a correct figure. Nothing has occurred in the economy to turn it from a first quarter decline of more than 2 percent into a second quarter growth of 4.6 percent. The 4.6 percent number is pulled out of a hat to set the stage for the November election. It is extraordinary that economists and the financial media permit the government to get away with its false economic reporting. Of course Wall Street likes good news . . . but fake news that misleads investors and covers up economic policy mistakes? Clearly, something is wrong with the government’s economic reporting. It is not possible to have real GDP growth when real median family incomes are declining and business investment consists of corporations buying back their own shares. Either the government’s GDP estimate is incorrect or the Census Bureau’s Income and Poverty report is incorrect. Apparently Washington doesn’t understand that if it is going to rig the numbers, it must rig all the numbers. The rigged inflation measures create illusionary real GDP growth. They also block cost-of-living adjustments to Social Security pensions. Indeed, the main purpose of the rigged inflation measures is to get rid of “socialistic” Social Security by allowing inflation to gradually erode away the real values of “entitlements.” Republicans always want to cut “entitlements” that people have paid for over their working lifetime with the payroll tax. But Republicans never want to cut the payroll tax. They need the revenues in order to bail out the big banks and to pay for never-ending wars. Washington has been conducting needless wars abroad for 93 percent of the 21st century at a cost of trillions of dollars. More trillions have been wasted bailing out banks that deregulation permitted to become “too big to fail.” During the past seven years, millions of Americans have lost their jobs and their homes, and food stamp rolls have reached record numbers. These hurting Americans have been ignored by policy-makers in Washington. Clearly, government in America is focused on something different from a healthy economy and the well being of citizens. We call it democracy, but it’s not.




Susan Duclos (AllNewsPipeline): Dr. Peter Piot, a man that was part of the team that discovered the Ebola virus in 1976, states that the Ebola virus is clearly mutating, as he describes what he calls a "nightmare scenario." Piot is also doubtful that an outbreak in Europe and North America would be as devastating as one that could potentially break out in India due to the health practices and the differences in how doctors and nurses use protective gear. Normally, that would be assumed to be true, but as already shown with just the first case of imported Ebola within the US, many missteps have been made, despite months of preparation for just that eventuality, from the patient, Thomas Duncan being sent home from a Texas hospital after they were made aware that he came from an Ebola infected country and was suffering Ebola symptoms, to the lunacy of his vomit being cleaned up by men not even wearing HAZMAT suits, to the TX ambulance workers not being informed of Duncan's diagnosis, for two days in which they continued to work, to the family that had been living with Duncan being locked in the home he has already contaminated, including three children to a whole host of other blunders showing that the US is NOT more prepared that a country like India. Question: The virus is continually changing its genetic makeup. The more people who become infected, the greater the chance becomes that it will mutate ... Answer: : ... which might speed its spread. Yes, that really is the apocalyptic scenario. Humans are actually just an accidental host for the virus, and not a good one. From the perspective of a virus, it isn't desirable for its host, within which the pathogen hopes to multiply, to die so quickly. It would be much better for the virus to allow us to stay alive longer. Question: Could the virus suddenly change itself such that it could be spread through the air? Answer: Like measles, you mean? Luckily that is extremely unlikely. But a mutation that would allow Ebola patients to live a couple of weeks longer is certainly possible and would be advantageous for the virus. But that would allow Ebola patients to infect many, many more people than is currently the case. When asked if that was speculation, his answer was "Certainly. But it is just one of many possible ways the virus could change to spread itself more easily. And it is clear that the virus is mutating." We have a reminder that according to the US Army, Ebola, like the Flu, needs Winter weather to go airborne. which in turn would take this already deadly disease and turn it into an almost unstoppable force.




Alan Karuba (FactsNotFantasy.blogspot): What does it tell you when Britain and France have stopped flights to and from the nations in Africa where Ebola has become a threat and the United States has not taken a similar measure? What does it tell you when the President sends 3,000 U.S. troops on a “humanitarian” mission to West Africa? It tells me he has put the U.S. at risk if any or a portion of these troops return after having been infected. at some point, 3,000 U.S. troops will be returning from West Africa to military facilities here at home. Thus far we have been fortunate to have identified the case of the Ebola victim who had entered the nation from Liberia, but there are few guarantees that more will not be found or deterred. The Oct 4 Washington Post reports that “Since July, hospitals around the country have reported more than 100 cases involving Ebola-like symptoms to the federal Centers for Disease Control and Prevention.” Largely unknown is that 90,000 Americans die annually from preventable infections they acquire while in hospitals! Obama is the President who engineered an invasion of thousands of children and others from Latin America and then distributed them to various states without informing their governors or other authorities of who and where they were. Not surprisingly, in recent months cases of an enterovirus respiratory disease affecting school-age children have been reported around the nation. Obama has no regard for the sovereignty of the nation or its immigration laws. Jim says: When America comes to the understanding that Obama wants to destroy us then they will see everything he does makes perfect sense!


Matthew 6:31 Be not therefore anxious, saying, What shall we eat? or, What shall we drink? or, Wherewithal shall we be clothed?
32 For after all these things do the Gentiles seek; for your heavenly Father knoweth that ye have need of all these things.
33 But seek ye first his kingdom, and his righteousness; and all these things shall be added unto you.
34 Be not therefore anxious for the morrow: for the morrow will be anxious for itself. Sufficient unto the day is the evil thereof.







****************










Harvey's comments on Friday price action (basis 1:30 PM EST)










Quote:



Gold closed down $22.00 at $1192.20 (Comex to Comex closing time).


Silver was down 22 cents at $16.78.






In the access market tonight at 5:15 PM:


Gold: $1192.00


Silver: $16.87













Thursday, Oct 2nd Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/10/oct-32014gld-remains-constantslv.html














Total, Oct (Gold), Nov (Silver), Dec (Gold, Silver) Open Interest










In silver:






Quote:



The total silver Comex OI fell slightly by 323 contracts with silver down yesterday to the tune of 21 cents. Tonight the silver OI complex rests at 171,878 contracts. In ounces, this represents 859 million oz or 122.70% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. The big test will be the OI reading for the entire complex on Monday.


If it does not fall appreciably, the USA will undergo a scorched earth policy against our sovereign silver longs. No doubt they will not pay attention to the west's shenanigans.The next non active silver contract is October and here the OI remained constant at 213. We had 0 notices served upon yesterday so we neither gained nor lost any silver ounces standing for delivery in October. November is also a non active delivery month and here the OI went down by 5 contracts to 89. The December silver contract is a biggy contract month and tonight it rests at 122,853 contracts for a loss only 561 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 614 million oz or 87.7% of annual global production.













In Gold:






Quote:



The total gold Comex open interest fell again today by 461 contracts from 380,473 all the way down to 380,012 with gold marginally up by $.40 yesterday. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 70 contracts down to 2,240. We had 0 notices filed yesterday so we lost 70 contracts or 7,000 oz will not stand for the October contract month.The November contract month saw its OI rise by 30 contracts up to 277. The December contract fell by 1200 contracts down to 277,500.













Volume










In Silver:






Quote:



The estimated volume today was very good at 46,287. The confirmed volume yesterday was good at 42,063 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 178,536 contracts. The confirmed volume yesterday was also fair at 154,000.


It is strange lately that we are getting exact even numbers on our volumes/OI


(Today 277,500 OI for December/ yesterday 278,700 and volume yesterday 154,000.)






















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit: nil oz.


We had 1 dealer withdrawal:


i) Out of Brinks: 280,042.66 oz.


Total dealer withdrawal: 280,042.66 oz.


We had 3 customer withdrawals:
i) Out of CNT: 40,055.000 oz (perfectly round withdrawal)


ii) Out of Delaware: 971.900 oz.


iii) Out of Scotia: 50,033.36 oz.
Total customer withdrawal: 91,060.26 oz




We had 3 customer deposit:


i) Into Brinks: 300,308.26 oz.
ii) Into Delaware: 1,000.000 oz ???


iii) Into Scotia: 598,687.06 oz


Total customer deposits: 899,995.32 oz.




We had 0 adjustments:


Total dealer inventory: 65.591 million oz


Total of all silver inventory (dealer and customer) = 181.936 million oz.















In Gold Inventory:






Quote:



Today, we had one dealer transaction:


i) Out of the Brinks: 15,000.27 oz.


Total dealer withdrawal: 15,000.27 oz
Total dealer deposit: nil oz




We had 2 customer withdrawals:


i) Out of Brinks: 32.15 oz or 1 kilobar
ii) Out of HSBC: 7331.875 oz.


Total customer withdrawals: 7,364.025 oz.






We had 1 customer deposit:


i) Into Scotia: 16,075.000 oz or 500 kilobars???.


Total customer deposit: 16,075.000 oz.




We had 0 adjustments.






Total Dealer inventory: 945,488.206 oz 29.408 tonnes.


Total gold inventory (dealer and customer) = 9.138 million oz. (284.24 tonnes). A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 20 tonnes have been transferred out. We will be watching this closely!
Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.We had 0















Delivery Notices










In silver:






Quote:



The CME reported that we had 42 notices filed for 210,000 oz today.













In gold:






Quote:



Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices were stopped by JPMorgan customer account.




We had 0 notices served upon our longs for 5700 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_London_and_Shanghai.htm#Comex_silver






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 273 x 5,000 oz per contract or 1,365,000 ounces upon which I add the difference between the open interest for the front month of October (213) - the number of notices served upon today (42) x 5000 oz per contract












Thus Oct. standings for silver: 273 notices x 5,000 oz per notice or 1,365,000 oz + (213) - (0) x 5,000 oz = 2,220,000 oz. We neither gained nor lost any silver ounces at the Comex.this level however will continue to rise as the month progresses. It looks like China is still in a holding pattern ready to pounce when needed. The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.


These look like paper deposits/withdrawals where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.

















In gold:






Quote:



In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 476 x 100 oz = 47,600 oz, to which I add the difference between the open interest for the front month of October (2240) minus the number of notices served upon today (0) x 100 oz = 271,600 oz or 8.447 tonnes.


We lost 7,000 oz of gold standing tonight.


Thus: October standings:476 contracts x 100 oz = 47600 oz + (2240) - (0) x 100 = 271,600 oz or 8.447 tonnes).



















Select Commodity Prices




The Bloomberg Baltic Dry Index (BDI) was 1,041.00, down 1.33%. WTI November crude was 89.65 down 1.51. Brent crude was 91.88 down 1.54. The spread between Brent and WTI was 2.23 down 0.03. The 30 year US Treasury bond was up 0.0000 at 3.1500. The 10 year T-Note was up 0.0200 at 2.4600. The dollar was up 1.04 at 86.67. The PPT/Dow was 17000.51 up 199.46. Silver closed at 16.93 down 0.17. The GSR was 70.4194 down 0.5923 oz of silver per oz of gold. CIA's Facebook was 77.42 up 0.34 (0.44%). December wheat was up 0.00 at 482.750. December corn was up 0.00 at 322.75. December lean hogs were up 0.000 at 94.925. October feeder cattle were up 0.000 at 241.100. December copper was down 0.001 at 2.999. November natural gas was up 0.000 at 3.932. December coal was up 0.00 at 53.73.






Thank you for reading the Harvey Report!




There is much more on Harvey's blog https://harveyorgan.blogspot.com.




Goooood day!




**************
Mon, Oct 6, 2014 - 11:00pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 6 Oct 2014

This is DayStar (DS) with the Monday Harvey Report.


News and Commentary







Harvey: Tomorrow is going to be a very interesting day. The open interest in silver with tomorrow's reading will probably be much higher due to the strength of silver today. The bankers must make another decision: do they raid again trying to knock down silver and force some longs to liquidate or do they wait and allow the OI to rise further? GLD: As of 6 PM EST there was no change at the GLD (inventory now at 767.47 tonnes). SLV: As of 6 pm tonight we have no changes in inventory (inventory is now 349.934 million oz). GOFO is positive but decreasing.

Thomson Reuters: The move lower in September was technically driven as there was no negative [ DS: negative for gold, that is] headline data, obvious reasons for price falls or indeed evidence of physical gold selling. Most of the selling was on the Comex [ DS: the paper market] and gold remained firm in Asian trading throughout the month. Indeed, the mood music for gold is quite positive - especially the appalling western relations with Russia, Middle Eastern tensions and attendant geopolitical risk. One plausible factor for gold’s weakness is the ever increasing, “irrationally exuberant” appetite for the dollar globally which may be impacting gold. Despite, poor economic data out of the U.S. in recent days, the dollar has continued to eke out gains. Poor data has not led to the bounce in gold that one would have expected. The permanently levitating stock markets have seen weakness and this may be a prelude to much larger losses. There is increasing evidence that the U.S. consumer is struggling and close to being tapped out. Indeed, housing data has been poor recently which suggests the recent housing boom could be on its last legs. The latter scenario is likely the case which will prove bullish for gold in the long term. Technically, gold is vulnerable to a further fall to test its bottom from July, 2010, at $1,161/oz. This is particularly the case in the very short term, in other words, this week. A breach of the $1,161/oz level could result in a rapid fall to test $1,110/oz and the long term support at $1,000/oz. Silver is also vulnerable after breaking below key resistance. Technical support is at $15/oz. Therefore, short term weakness is a real risk and those considering reducing allocations should sell in the short term. At the same time, it is important to remember that with market manipulations of today, technical analysis is not as useful a tool as heretofore. The long term fundamentals remain very sound and those who are patient and focus on gold’s strong fundamentals and still robust global demand, especially from China and India, will be rewarded again.

Koos Jansen (IGWT): In week 39 (September 22 - 26) the amount of gold withdrawn from the SGE vaults accounted for 46 tonnes. Quite a strong week if one bears in mind this number equals wholesale demand of gold in China mainland. Year to date 1427 tonnes have been withdrawn from the SGE vaults. The price of deferred silver in Shanghai excluding 17 % VAT traded at a discount of just under 4 % relative to London spot. Shanghai silver remains scarce.


Koos Jansen (IGWT): 1) Because we have additional consolidation [ DS: confirmation?] about the workings of the SGE, Chinese import and PBOC purchases, the next chart is now confirmed to be fairly accurate. China holds (including September 2014) approximately 11,224 tonnes in non-government gold reserves and officially 1,054 tonnes in reserves at the PBOC. However, from various high ranking Chinese officials we know the PBOC has been steadily accumulating gold since 2009, which make current PBOC reserves likely to be 4,000 tonnes. In total there are about 15,224 tonnes of physical gold reserves in China mainland. 2) There is now so much evidence the demand numbers from the World Gold Council are erroneous the WGC is obligated to either revise their numbers upwards, or cease reporting on the Chinese gold market all together. Until then their numbers on Chinese demand are completely unacceptable. Harvey: Koos confirms the central bank of China does not buy any gold through he SGE. This makes sense as China will use its unwanted USA dollars to buy gold.


Chris Powell (GATA): Tocqueville Gold Fund manager John Hathaway's third-quarter letter to investors details how the fundamentals for a much stronger gold price remain in place, and he cites many of the developments to which GATA has called attention in recent weeks. Hathaway's letter concludes: "We take comfort that our positive view of the future dollar gold price is shared by those who understand the difference between synthetic and physical metal and who regard the real substance as a matter of strategic imperative, not as a plaything for macro traders. We believe that China's negative assessment of the future prospects for the U.S. dollar is correct and that our investment strategy of investing in the shares of value-creating gold miners offers sensible and dynamic exposure to the inevitable repricing of gold in U.S. dollars."

Chris Powell: Gold mining entrepreneur and market analyst Jim Sinclair today calls the recent clubbing of the gold futures price "a highly organized spoofing play" that won't work for long.

Andy Hoffman (Miles Franklin): As we wrote in yesterday's "Here comes the Physical Buying," PM demand is indeed surging - as exemplified by the U.S. Mint's October silver Eagle sales, which at 1.65 million ounces have nearly exceeded July and August's full-month totals of 1.97 million and 2.00 million, respectively, in the first two days of the month! Even September's very strong level of 4.14 million ounces has nearly been halved putting October on pace to not only exceed, but potentially shatter the Mint's monthly record. And of course, for full-year 2014 sales to exceed 2013's record totals. Since the "point of no return" was reached three years ago, TPTB have been operating 24/7 to make sure such reality isn't reflected in price, by naked shorting paper to the point that global silver inventories have been reduced to fumes. Even the "new Hail Mary trade" of goosing interest rates into the close was in play, all ahead of today's patently obvious strategy of "painting the tape" with the final NFP employment report before November's mid-term elections. Regarding the NFP employment report, never forget that no matter what bogus "headline print" the BLS publishes, the internals will always slam them and even the MSM knows it. And not only that, but with the entire world economy going the opposite direction - as exemplified by this morning's horrific European service PMI numbers - it's hard to believe anyone could believe the U.S. economy, record low interest rates and all can be genuinely "recovering". The Labor Participation Rate plunged to a new 36-year low of 62.7% as a whopping 315,000 people departed the labor force - and wages were unchanged. In other words, the trend of fabricated jobs - the majority of which are of the part-time, minimum wage paying, no benefits receiving variety, principally for senior citizens that can't afford retirement - continues. And thus, the Fed will have to further fret about the "significant underutilization of labor resources" destined to catalyze their inevitable "Yellen reversal" to increased QE. It's only a matter of time.

Chris Powell: Technology stock Alibaba is trading at 60 times earnings while successful gold mining companies are trading at less than 20 times earnings, notes John Ing, president of the Maison Placements investment house in Toronto. Ing thinks this indicates a "final panic selling stage" in gold.

Robin Bromby (The Australian): A China Gold Association video shown at China's first gold congress described the $US200-an-ounce fall in April last year as a "black swan, one in a 2-million-year event." Goode suspects the real meaning of that comment was that China does not intend to allow that to happen again; in April 2013 Shanghai was not trading when Comex in New York was open. Now it is. He believes China is still on course to made the yuan a reserve currency, backed by gold. China last reported its official gold holdings in 2009 at 1,054 tonnes. He thinks the figure may now be around 6,000 tonnes and the Chinese are waiting until they have 9,000 tonnes stored away before they announce they have passed the United States to become the world's biggest holder (a theory Pure Speculation has previously advanced). Goode says Russia is accelerating gold buying (another 7 tonnes in August). "With the increased level of co-operation between Russia and China, does Russia know China's intentions and is adding gold reserves as fast as possible?" he wonders. Kazakhstan is also buying up. DS: Just a reminder that Jim Willie says China has 30,000 tonnes and Russia has 20,000 tonnes.

Chris Powell: Sprott Asset Management's John Embry today tells about the phoniness and contrivances of the latest U.S. jobs report and says the data manipulation is part of a scheme to support the U.S. dollar and the U.S. stock market.

Tyler Durden: While the biggest micro news of the weekend is certainly the report that Hewlett-Packard has finally thrown in the towel on organic growth (all those thousands laid off over the past ten years can finally breathe easily - they were not fired in vain), and has proceeded to do what so many said was its only real option: splitting into two separate companies, a personal-computer and printer business, and corporate hardware and services operations (which will certainly lead to even more stock buybacks only not at one but two companies) which in turn has sent its stock and futures higher, perhaps the most notable development in the macro world is Japan's realization finally that the weaker Yen is crushing domestic businesses.

Zero Hedge: Having tried (unsuccessfully) to break up the pro-democracy protesters in the heart of Hong Kong using local triad gangs (as opposed to the optics of actual police), it appears the Chinese government is rolling back from its "wait-and-see" approach and becoming more aggressive once again. Hong Kong's Chief Executive Leung Chun-ying, as DPA reports, demanded protesters end their blockade of major roads by Monday, or the government will take "all necessary measures to restore social order." Tensions continue to rise, with clashes breaking out sporadically, as the protesters have broken off talks with the government. As fears of another Tiananmen square debacle loom, former Hong Kong governor Chris Patten noted, "I cannot believe it would be so stupid as to do anything like send in the army."

Tyler Durden: From Goldman's Naohiko Baba, previewing this week's key Japanese economic events--The Cabinet Office makes an assessment of the state of the economy based on the trend in the coincident CI, using a set of objective criteria. The August coincident CI is set to print negative MOM. In this case, the Cabinet Office’s economic assessment will likely shift downward to “signaling a possible turning point” from the current level of “weakening”. According to the Cabinet Office, such a change in assessment provisionally indicates a likelihood that the economy has already fallen into recession. This is effectively akin to the government acknowledging that the economy is in recession. And because every Keynesian lunacy has to end some time, RIP Abenomics: December 2012 - October 2014.


Zero Hedge: TEPCO: "The deluge [ DS: from the super-typhoon] would likely cause seawater to mingle with the radiation-tainted water accumulating in the basements of the reactor buildings at the six-unit plant, allowing 100 trillion becquerels of cesium to escape, according to an estimate that Tepco revealed Friday at a meeting of the Nuclear Regulation Authority," the Japan Times reports. According to the media outlet, tidal waves from the storm are likely to reach a maximum height of 26.3 meters or more.The storm is likely to strike the Fukushima No.2 nuclear plant as well, but "its idled reactors and fuel pools" are not expected to be destroyed, Tepco officials assert. It should be noted that the 2011 tsunami reached a height of 15.5 meters when it hit the plant, which was followed by a 9.0 magnitude earthquake. In order to minimize the impact of the hurricane, Tepco "will reduce the vast quantity of radioactive water" on the site,the Asahi Shimbun notes. Citing Tepco's officials, the media source claims that the amount of contaminated water, which is expected to spill into the ocean, could be decreased to 30 percent "by filling in trenches near reactors."

Tyler Durden: Greece will default the second the people start protesting the crushing, and very simple math, and they decide they have had enough of the technocrat and appoint another president. Because, you see, it is not that Greece implemented zero reform, and rooted out the pervasive corruption that saw billions in foreign "aid" end up in offshore bank accounts of the political oligarchy, or the simple math of sources and uses of funds: it is the danger of the Greek people returning to what they did best in those days of 2010 and 2011 when every other day saw a riot in the center of Athens, that will be the straw that finally breaks the camel's back. And thus we go back to square one, as we always said we would, when only timing was a matter of debate. Well, we now know the timing: T minus 15 months and counting to yet another Eurozone collapse.



This Will Not End Well (In The Short Term)


Off the Grid News: The Ebola outbreak in West Africa has now spread to the United States, but an even bigger nightmare may lay ahead: What if Ebola become airborne? Although the CDC maintains that the Ebola virus is only spread through “close contact” that involves bodily fluids, experts are warning that could change very soon – if it has not already. The problem is that Ebola is spreading so rapidly that it could mutate into an airborne virus – and be spread via a sneeze or cough, just like the common cold. In West Africa, the fatality rate is about 70 percent. As of now Ebola supposedly is spread only via bodily fluids. “[The possibility of it becoming airborne is] the single greatest concern I’ve ever had in my 40-year public health career,” Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota, told CNN. “I can’t imagine anything in my career — and this includes HIV — that would be more devastating to the world than a respiratory transmissible Ebola virus.” DS: We have already on several occasion had occasion to believe Ebola is already airborne. For one, the CDC itself issued protocols to airlines to provide suspected Ebola patients with masks and to cleanse the airplanes. The CDC regional director at the Texas news conference about the Dallas Ebola patient remarked about the air that we all share in common, and last, about two months ago, a boots-on-the-ground clinician told Congress you could be infected if 1 mm of skin was left uncovered. This statement sounded like the disease was not only airborne, it was also able to infect through the skin.

Dave Hodges: In an article, posted on Natural News, in which the point was made by Dr. Jesse L. Goodman, now a professor of medicine at Georgetown and he served as a former chief scientist at the U.S. Food and Drug Administration (FDA), states that “It’s no longer a matter of if but of when Ebola will begin to spiral out of control in the U.S.” Goodman, a top infectious disease specialist, recently made these dire claims when asked how bad will the Ebola crisis will get.

Dave Hodges (TheCommonSenseShow): During my interview with Mike Adams, he brought up the salient point that people in America go out in public because they believe it is safe to do so. Americans go to football games, movie theaters, concerts, shopping malls, attend school and sit in doctors offices. Once the American people come to believe that it is no longer safe to go in public, our economy will go the way of Liberia’s. Truck drivers will not be delivering food and necessary supplies. Chronically ill people will not be able to get needed medicines. The net effect is that “Just in time delivery” practices, the backbone of our consumer economy, will come to a screeching halt. Famine will become commonplace. Looting will commence and it will become so widespread that the authorities will be powerless in the face of the coming civil unrest. And if quarantines are enacted, the healthy Americans, who are armed to the teeth, will not allow themselves to be trapped with the dying. These “healthy” Americans will attempt to fight their way out of quarantine zones. This could mark the beginning of a potential civil war. Mike and I also discussed the fact that Ebola lives outside the body for 104 minutes at 72 degrees and Ebola Reston lives for 142 minutes outside the body at the same temperature. As America moves towards another winter, people will be gathering inside where the temperature will be 72 degrees. To some degree, the timing of the virus outbreak is very suspect. I have been told by several infectious disease experts that the United States had less than four weeks to take the proper precautions, or Ebola was going to spread far and wide across the United States. Mike Adams believes that it is already too late. I must say that I concur. Eighty Penn State students are being watched for signs of Ebola, two Portland healthcare workers have informed me that there are two active cases of Ebola in the city and the CDC is covering it up prior to moving the patients. In mid-September a man traveled from New York City to Chile, where two days later he began to exhibit symptoms of Ebola. Next door, in New Jersey, several are being watched for Ebola contamination. Within the last week a Payson, AZ. man traveled from Liberia to Brussels to Phoenix and was not health screened one time.

Jonathan Benson (NaturalNews): Parents all across the country are quickly learning that they have far fewer rights than previously believed, especially when it comes to making decisions about medical treatment for their children. A growing trend is for hospitals and doctors to falsely accuse parents of "medical child abuse" when they question a diagnosis or ask for a second opinion, in some cases using this accusation as an excuse to steal children away from their families and place them into state custody. One prominent case of this that we've reported on here at Natural News involves Justina Pelletier, a teenager from Connecticut who has been in the custody of the state of Massachusetts for more than a year. Justina's parents were told by medical experts at Tufts University that their daughter had mitochondrial disease, a diagnosis that Boston Children's Hospital disagreed with and later used as "evidence" to kidnap Justina from her parents. The saga has been ongoing for months, and the Pelletiers have been actively seeking to regain custody of their daughter. As it currently stands, Justina is being held at a residential treatment facility in Thompson, Connecticut. According to The Boston Globe, Justina is barely allowed to see her parents, except for limited, one-hour, supervised sessions at the hospital's discretion -- in other words, she is a medical prisoner being held captive by the state. Recently, Justina was allowed to spend the day with her father for Father's Day without state supervision, which some say could be indicative of her soon release back into her parent's custody. The interesting thing about this particular case is that Justina's parents did not resist the diagnosis of Boston Children's Hospital, which erroneously ruled Justina to have a psychosomatic condition rather than a physical one, based on their own bias. They were merely affirming the expert diagnosis of physicians from Tufts who, last time we checked, are far from idiots. Even if the Pelletiers had asked for a second opinion on their own accord, it would not have justified their daughter being forcibly taken from them through legal sleight-of-hand. But the fact that she was taken, even after experts from a well-respected university verified her condition, shows how serious this issue is, and how it could happen to anyone who subjects their child to the mainstream medical system. https://www.naturalnews.com/047145_medical_child_abuse_second_opinion_parental_rights.html#ixzz3FQAK0uJq



Mike Adams, the Health Ranger (Natural News): Here are the top three out of ten things you need to do NOW to protect yourself from an uncontrolled Ebola outbreak: #1) Boost your immune system function with medicinal herbs and nutrients. All patients who have survived Ebola so far can credit their immune systems for saving their lives. Anyone who is not actively taking steps right now to significantly boost their immune function with anti-viral herbs, natural medicines, superfoods and nutritional supplements is putting their own life at risk. I've listed the full details of exactly which immune-boosting items to acquire and use in Episode Six of the Pandemic Preparedness course. https://biodefense.com/Pandemic-Preparedness-Episode-06.html Episode Seven also teaches you how to stop suppressing your immune system with toxic chemicals and medications. Listen to these two episodes now if you want to live through a pandemic outbreak. Or, if you prefer to die, just follow the CDC's official advice to "wash your hands" and wait around for an experimental vaccine while doing nothing to help yourself in the interim. #2) Significantly enhance your local food supplies in anticipation of quarantines and food disruptions. One of the first things that happens in a medical quarantine is that food quickly becomes scarce. There are three reasons for this: 1) The quarantine restricts movement of transport traffic into and out of the quarantine zone. 2) Drivers of transport vehicles refuse to make deliveries into the quarantine zone. 3) Citizens stuck inside the quarantine zone begin to stockpile all supplies in anticipation of supply shortages. Currently, millions of citizens in Sierra Leone are suffering under a hellish quarantine which has resulted in a near-total economic collapse of the region. If you don't believe me, see this Washington Post article entitled Ebola-stricken Liberia is descending into economic hell. #3) Anticipate disruptions in everything: banking, emergency services, water, power and more. When any region is subjected to a medical quarantine, it means citizens in that region can't go to work. Those workers run the banks, police departments, water treatment facilities, power plants and so on. When those workers stay home under a quarantine order, all those businesses and facilities they used to run suddenly cease to function. That's when the local ATMs stop working and basic infrastructure services (such as municipal water) are at risk of disruptions or shutdowns. How will you survive if you have no food deliveries to the grocery store? No 911 emergency services? No electricity? No tap water? No hospital emergency rooms? https://www.naturalnews.com/047078_Ebola_outbreak_preparedness_personal_protection.html

Mike Adams, the Health Ranger (Natural News): Here are the top four through five out of ten things you need to do NOW to protect yourself from an uncontrolled Ebola outbreak:#4) Acquire basic medical protection and isolation gear, including plastic sheeting. If Ebola spreads throughout North America, hospitals will be quickly overrun with patients. Most people seeking medical care will be sent home to die. Presently, 82% of infected patients in Africa are being turned away from hospitals and told to go home. Do you have basic medical supplies at home to take care of yourself or an infected family member? Do you have isolation supplies to isolate one infected family member from other members of your family? I cover this in extensive detail in Episode 12 (not yet published but coming soon) at www.BioDefense.com. Expect many important supplies to be completely wiped out in the coming days and weeks. For example, at the time of this writing, you can purchase a pack of 25 Tyvek body suits with hoods at Amazon.com for just $134. That's a little over $5 a suit. By the time you read this, however, all those suits will probably be sold out. You can click here to check if I'm right. In a pandemic outbreak in North America, these suits will likely be auctioned on eBay for $100 each (or more). Those who prepare in advance can save a small fortune on the items everyone will suddenly want all at the same time. If you don't already have full-body isolation suits stocked and ready, you're already behind the preparedness curve. Remember: BEFORE the outbreak, each of these suits could be purchased for less than a Starbucks coffee. But AFTER the outbreak spreads, you probably won't be able to find them at any price. #5) Have a bug-out plan ready to go, and have the fuel and gear to follow your plan. If Ebola begins to spread in your local city, do you have a plan to evacuate before the quarantine occurs? Medical quarantines should truthfully be called "death zones" because once they're put in place, no one is allowed to leave until they're either immune or dead... or until the viral transmission has completely halted (which usually only happens after everyone is either immune or dead). The smart play is to get out of the high-density population centers and relocate to a rural area long before a quarantine order comes into play. Quarantine orders happen without warning. That's on purpose because the government doesn't want people fleeing an "upcoming" quarantine area, thereby causing the virus to spread even farther. So by definition, all quarantines happen instantly, without warning. This simply means if you haven't bugged out beforehand, you will likely not be able to bug out at all. #5) Get some extra cash in anticipation of financial and electronic commerce disruptions. If a medical quarantine is announced in your local area, it won't take long for local banks and cash machines to be out of order. How will you acquire the cash to purchase all the supplies you'll desperately need in a quarantine? Food prices will instantly skyrocket, and anti-viral herbs and natural medicines will be almost priceless (if you can find them at all). Cash will still be acceptable for commerce in nearly all areas, so having cash is your ticket to being able to acquire the items you need, many of which will be sold only at inflated, black market prices. If a large percentage of the population decides they all need some cash all at once, expect bank holidays and closures to commence soon thereafter. Our banking system is so fragile that it can't handle a large number of depositors making cash withdrawals at the same time.

Mike Adams, the Health Ranger (Natural News): Here are the top six through seven things you need to do NOW to protect yourself from an uncontrolled Ebola outbreak:#6) Set aside a large, reliable, self-contained water source. Where will you get water if the local water treatment facility stops functioning? Most people have no idea. You will need a large supply of backup water stored on site. The easiest solution is to buy a bathtub water bob and fill it to the max. This will give you 100 gallons or so -- a good start that might last you a few days. As I was writing this article, I just checked the availability of Water Bobs on Amazon.com, and not surprisingly, they're already sold out. This is exactly what I've been warning people about. The nature of all the supply lines for food, medicine and preparedness products is that everything will be almost instantly sold out the moment the masses figure out what's really happening. For many items, it may already be too late. Here's an actual quote from a Facebook user -- a person who reflects the kind of delusional denial that has been rampant across American society on many topics: "Just because the CDC said that Ebola infections could reach 1.4 million by the end of January, don't worry - you will be fine. Ebola will always be somewhere else - not here." Such statements are, of course, delusional. And when it comes to a viral pandemic like Ebola, delusional means dead. #7) Have a plan for household safety and defense against looters. If you wake up one morning and find yourself locked down in a medical quarantine zone, how exactly are you planning to protect your household from looters who are desperate for food, water and other supplies? Do you seriously think the government is going to have the manpower to guard your home and ensure your safety? Not a chance. Not even if they want to. Sure, all your neighbors are likely to be very police and civil for the first 72 hours or so. But once the food starts to run out, the thin veneer of politeness quickly vanishes. When facing extreme hunger, there's almost nothing people won't do in order to survive, including looting your home and, if necessary, killing people in the process. If you don't already have a plan to defend your own home against looters and intruders, now might be a really great time to put a plan in place, before things get any crazier. A pandemic outbreak will no doubt cause another run on guns and ammo just like happened after the December 2012 Sandy Hook shootings. (I still can't find 22LR!)

Mike Adams, the Health Ranger (Natural News): Here are the top 8-10 things you need to do NOW to protect yourself from an uncontrolled Ebola outbreak:#8) Consider permanently moving away from high-density population centers. Bizarre viral pandemics and superbugs are sweeping across our planet right now. Human activity has caused wild imbalances in the natural ecosystems, and we should all expect to see wave after wave of pandemic diseases for decades to come. In any pandemic, cities quickly become death traps due to the high population density found there. Rural areas are inherently safer from infectious disease precisely because they have far lower population densities (and therefore fewer opportunities for disease to spread among humans). If you still live in the city but you've always considered getting out into the country, right now might be a great time to take a fresh look at those plans and start taking action. You still have time to make the move. Even "successful" viral pandemics require many months to spread across large populations. Ebola may take 1-2 years to really start spreading in U.S. cities... or it may never spread in America at all if they can keep it contained. (Let's hope it never spreads, but let's also be prepared in case it does...). Sooner or later, a viral pandemic that cannot be controlled will sweep through the world population. When that day comes -- and it may have just started on Sep. 30, 2014 with "patient zero" in Dallas -- you would be wise to be living far away from population centers. #9) Plan to have no medical assistance from hospitals or doctors. During a pandemic outbreak, you can expect to have no medical help whatsoever from hospitals or doctors. Many doctors and hospital staff will rapidly become infected, and many will die. Others will be far too preoccupied with other patients to take on any more. Expect all hospital beds to be quickly filled, after which patients will be directed to go home and deal with the infections themselves. (This has already happened in Liberia and Sierra Leone.) Dialing 911 will be useless, and emergency transportation vehicles such as ambulances will of course be thoroughly contaminated with the Ebola virus. This might be a good idea to bone up on your self-reliance skills as taught in an online summit beginning today. #10) Understand that medications, junk food and toxic chemicals make you more vulnerable to infections. Here's something the mainstream media almost never talks about: medications deplete your body of immune-boosting nutrients, making you even more susceptible to viral infections. I have written extensively about this exact point in an article entitled Over-medicated, immunosuppressed Americans likely to suffer high fatality rate if Ebola sweeps across USA -- published on September 22, 2014. In that article, I explain how the mass medication of Americans has made the USA uniquely vulnerable to an Ebola wipeout. It is my opinion that those Americans who wish to survive Ebola need to work with qualified naturopathic physicians to get off their meds as quickly as possible and transition to a health-enhancing lifestyle that boosts immune function and bolsters your defenses against infections. Remember: Every single person who has so far survived Ebola has been saved by their own immune system. Your immune system can also save your life, too -- but only if you support it and stop suppressing it. Episode Seven of my free online Pandemic Preparedness course discusses this in great detail, outlining all the areas of your day-to-day life where you might be harming your own immune system. Learn more: https://www.naturalnews.com/047078_Ebola_outbreak_preparedness_personal_protection.html#ixzz3FQB4CFtA


Matthew 22:36 Master, which is the great commandment in the law?
37 Jesus said unto him, Thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind.
38 This is the first and great commandment.
39 And the second is like unto it, Thou shalt love thy neighbour as thyself.
40 On these two commandments hang all the law and the prophets.






****************


Harvey's comments on Monday price action (basis 1:30 PM EST)


Quote:

Gold closed up $14.50 at $1206.20 (Comex to Comex closing time).
Silver was up 40 cents at $17.18.

In the access market tonight at 5:15 PM:
Gold: $1207.00
Silver: $17.35



Friday, Oct 3rd Gold and Silver Action (basis 1:30 PM EST)
https://harveyorgan.blogspot.com/2014/10/oct-6no-change-in-gold-inventory-at.html



Total, Oct (Gold), Nov (Silver), Dec (Gold, Silver) Open Interest


In silver:

Quote:

The total silver Comex OI surprisingly rose by 566 contracts with silver down on Friday to the tune of 22 cents. Tonight the silver OI complex rests at 172,444 contracts. In ounces, this represents 862 million oz or 123.00% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests.On Friday I wrote the following:
" The big test will be the OI reading for the entire complex on Monday.
If it does not fall appreciably, the USA will undergo a scorched earth policy against our sovereign silver longs. No doubt they will not pay attention to the west's shenanigans."
Ladies and Gentlemen: we should see the open interest on silver rise again tomorrow and this should again cause our bankers to boil in a frenzy. Expect another major raid tomorrow.

The next non active silver contract is October and here the OI surprisingly rose by 78 contracts up to 291 contracts. We had 42 notices served upon yesterday so we gained 120 silver contracts or an additional 600,000 ounces will stand for delivery in October. November is also a non active delivery month and here the OI went up by 1 contract to 85.

The December silver contract is a biggy contract month and tonight it rests at 123,241 contracts for a gain of 388 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 616 million oz or 88.0% of annual global production.



In Gold:

Quote:

The total gold Comex open interest surprisingly rose today by a rather large 5547 contracts from 380,012 all the way up to 385,559 with gold down by $22.00 on Friday. One would have thought that more contracts would have been liquidated with the monstrous raid on Friday. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 327 contracts down to 1,913. We had 0 notices filed yesterday so we lost 327 contracts or 32,700 oz will not stand for the October contract month. The November contract month saw its OI rise by 22 contracts up to 299. The December contract rose by 4504 contracts up to 282,004.



Volume


In Silver:

Quote:

The estimated volume today was fair at 34,098. The confirmed volume on Friday was excellent at 52,016 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.



In gold:


Quote:

The estimated volume today was fair at 135,894 contracts. The confirmed volume yesterday was good at 192,208.






Inventory Numbers


In Silver Inventory:

Quote:

Today, we had 0 deposits into the dealer account:
Total dealer deposit: nil oz.

We had 1 dealer withdrawal:
i) Out of CNT; 5,004.800 oz
total dealer withdrawal: 5004.800 oz.
We had 3 customer withdrawals:
i) Out of Brinks: 36,103.07 oz
ii) Out of HSBC: 342,239.64 oz
iii) Out of Scotia: 60,768.68 oz.
Total customer withdrawal: 439,111.39 oz.
We had 3 customer deposit:
i) Into Brinks: 900,916.26 oz.
ii) Into CNT: 4961.26 oz.
iii) Into Scotia: 92,905.800 oz.
Total customer deposits: 998,783.32 oz.

We had 0 adjustments:
Total dealer inventory: 65.586 million oz
Total of all silver inventory (dealer and customer) = 182.491 million oz.




In Gold Inventory:

Quote:


We had zero dealer transactions today
Total dealer withdrawal: nil oz
Total dealer deposit: nil oz

We had 2 customer withdrawals:
i) Out of Brinks: 32.15 oz or 1 kilobar
ii) Out of Manfra: 96.45 oz or 3 kilobars
total customer withdrawals: 128.60 oz (4 kilobars)

We had 1 customer deposit:
i) Into Scotia: 34,250.527 oz
total customer deposit: 34,250.527 oz

We had 0 adjustment:
Total Dealer inventory: 945,488.206 oz 29.408 tonnes
Total gold inventory (dealer and customer) = 9.172 million oz. (285.28) tonnes)
A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 18 tonnes have been transferred out. We will be watching this closely!

Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.We had 0





Delivery Notices


In silver:

Quote:

The CME reported that we had 13 notices filed for 65,000 oz today.



In gold:

Quote:

Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices were stopped by JPMorgan customer account.

We had 0 notices served upon our longs for 5700 oz of gold.




Contracts Left To Be Delivered + Month-To-Date Summary


In silver:

For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:
https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_London_and_Shanghai.htm#Comex_silver

In silver:

Quote:

To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 286 x 5,000 oz per contract or 1,430,000 ounces upon which I add the difference between the open interest for the front month of October (291) - the number of notices served upon today (13) x 5000 oz per contract



Thus Oct. standings for silver: 286 notices x 5,000 oz per notice or 1,430,000 oz + (291) - (13) x 5,000 oz = 2,820,000 oz
We gained an additional 600,000 silver ounces that will stand for silver at the Comex for the October delivery month.
This level however will continue to rise as the month progresses.

It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!
As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500,000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.

These look like paper deposits/withdrawals where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.




In gold:

Quote:

In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 476 x 100 oz = 47,600 oz,to which I add the difference between the open interest for the front month of October (1913) minus the number of notices served upon today (0) x 100 oz = 238,900 oz or 7.43 tonnes.
We lost 32,700 oz of gold standing tonight.
Thus: October standings:476 contracts x 100 oz = 47600 oz + (1913) - (0)x 100 = 238,900 oz or 7.43 tonnes).





Select Commodity Prices


The Bloomberg Baltic Dry Index (BDI) was 1,029.00, down 0.77%. WTI November crude was 90.37 up 0.72. Brent crude was 92.79 up 0.91. The spread between Brent and WTI was 2.42 up 0.19. The 30 year US Treasury bond was down 0.0200 at 3.1300. The 10 year T-Note was down 0.0400 at 2.4200. The dollar was down 0.84 at 85.83. The PPT/Dow was 16991.91 down 8.60. Silver closed at 17.35 up 0.42. The GSR was 69.5562 down 0.8632 oz of silver per oz of gold. CIA's Facebook was 77.56 up 0.14 (0.18%). December wheat was up 8.75 at 491.500. December corn was up 9.75 at 332.50. December lean hogs were up 0.950 at 95.875. November feeder cattle were down 0.825 at 240.275. December copper was up 0.037 at 3.036. November natural gas was down 0.034 at 3.898. December coal was down 0.33 at 53.40.


Thank you for reading the Harvey Report!


There is much more on Harvey's blog https://harveyorgan.blogspot.com.


Goooood day!


**************
Tue, Oct 7, 2014 - 10:27pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 7 Oct 2014

This is DayStar (DS) with the Tuesday Harvey Report.










News and Commentary






Mark O'Byrne (Goldcore): Bullion demand has picked up but remains anemic and we are seeing only quite a small amount of new clients despite huge engagement with our emailed research and social media community. Some of our long standing clients, particularly more liquid HNW clients, are adding to allocations and see this latest sell off as an opportunity. New business is also coming from existing gold and silver investors and owners as we are seeing flows from ETF and other bank vaulted gold and silver into our allocated storage in Zurich and Singapore. Sentiment is as bad as I have seen it and reminiscent of the 2003 to 2007 period. We believe that the poor sentiment is quite bullish from a contrarian perspective.




Zero Hedge: While the economic data, especially out of Europe, just keeps getting worse by the day, with the latest confirmation that Europe is now officially in a triple-dip recession coming out of Germany and the previously observed collapse in Industrial Production which tumbled the most since February 2009, it was once again the Dollar and especially the New Normal favorite currency, the Yen, that was in everyone's sights overnight, when it first jumped to 109.20 only to slide shortly after midnight eastern, when Abe repeated once again that a plunging Yen is hurting small companies and consumers - and to think it only took him 2 years to read what we said would happen in late 2012 - but also the BOJ minutes which did not reveal any addition easing, which apparently disappointed algos and triggered USDJPY slel programs, pushing the USDJPY 80 pips lower to 108.40. Oh, don't be afraid: the world's largest economic block is now without doubt in a triple-dip recession, which will in turn drag both the US and China down with it. Well, at least the Eurozone, and the artificial "political capital" currency was bailed out at all costs, and since the "chairman got to work" nobody else had to, and thus there was zero reform in any of Europe's broken economies. Enjoy your hard-earned, and third in the past 6 years recession, Europe. Don't worry though, the rest of the world is coming right behind you.










Matthew Campbell, Zijing Wu, and Jesse Riseborough (Bloomberg News): Glencore Plc is laying the groundwork for a potential merger with Rio Tinto Group (RIO) in the next year that would create the world’s largest mining company, worth about $160 billion, according to people familiar with the situation. As a preliminary step, Glencore has reached out to Aluminum Corp. of China, the Chinese state-backed company that is Rio’s largest shareholder, to gauge its interest in a potential deal, said two of the people, who asked not to be identified because the matter is private. The discussions with the company, which is known as Chinalco and controls about 9.8 percent of Rio, took place in recent weeks, one of them said.






Chris Powell (GATA): Friday's smash of the gold futures price, GoldMoney founder and GATA consultant James Turk tells King World News, was another typical tape-painting operation by the central planners for short-term psychological purposes.




Ben Protess and Jessica Silver-Greenberg (NYT): The Justice Department is preparing a fresh round of attacks on the world's biggest banks, again questioning Wall Street's role in a broad array of financial markets. With evidence mounting that a number of foreign and American banks colluded to alter the price of foreign currencies, the largest and least regulated financial market, prosecutors are aiming to file charges against at least one bank by the end of the year, according to interviews with lawyers briefed on the matter. Ultimately, several banks are expected to plead guilty. Interviews with more than a dozen lawyers who spoke on the condition of anonymity to discuss private negotiations open a window onto previously undisclosed aspects of an investigation that is unnerving Wall Street and the defense bar. While cases stemming from the financial crisis were aimed at institutions, prosecutors are planning to eventually indict individual bank employees over currency manipulation, using their instant messages as incriminating evidence.






Bill Holter (Miles Franklin): I will leave you with a comment sent to me by a reader with a little of my own tweaking. He said ..."I buy silver with fake money for 20% less fake money than they can mine it for. Will I win? Ask any child able to grasp the concept and they can answer that!". Think about what he is saying here? He is describing Comex to a tee, they trade nonexistent silver back and forth maybe 100 times or more than is actually produced globally ...and THEY set the price. What will happen when one day the premium to purchase real silver rises $2 or $3 while the Comex contract drops $1 or more. What will a 2 tier market do? It certainly will not create confidence in paper pricing versus cash and carry. The danger as I see it is Comex may now be pushing their hand too hard and too far ...as the Shanghai exchange now exists as a potential check and balance to paper pricing. If Comex moves the price too far from where the cash price trades, they will effectively arbitrage themselves out of inventory, out business and out of confidence. Time will tell.








Harvey: Today, German Industrial production collapsed setting the mood for the red ink across the entire globe. Japan did not help when they finally admitted that they too were in a recession. GLD: as of 6 PM EST no change at the GLD (inventory now at 767.47 tonnes). SLV: as of 6 pm tonight we have no changes in inventory (inventory now 349.934 million oz). GOFO was positive but decreasing.








Thomson Reuters: Relative to stock market indices, broad commodity indices are now at their lowest levels since the late-1990s dot com boom. But key commodity price ratios, such as those between precious and industrial metals, are already at levels associated with financial crises such as that of 2008. In other words, there is already ‘blood on the commodity streets’, presenting investors and commodity traders with potentially attractive opportunities. Back in 2007, before it became generally apparent that the US housing bubble had burst, commodity prices were in a strong uptrend, which accelerated into 2008. By June that year, multiple commodity prices had soared to all-time highs. Copper reached $45/pound, soyabeans soared to over $160/bushel, cotton rose through $20/pound and crude oil briefly exceeded $140/bbl. It is my view that the sharp downtrend in commodity prices in recent months is primarily a cyclical phenomenon indicative of sharply weaker global industrial demand, combined with a stronger dollar. There is some support for this view in that global leading indicators have declined in recent months. In many cases, commodity prices and price ratios have fallen to levels not seen since the depths of the global financial crisis of 2008. Does this imply that a crisis is imminent? Perhaps not, but it does highlight the fact that, notwithstanding a modest correction of late, equity and risky asset prices generally remain elevated and could well experience a major correction lower. Commodities, by contrast, are almost as cheap as during the 2008 crisis and thus it would appear prudent to take profits, rotating out of the former and into the latter.






John Butler (via Goldcore): in the event the Fed, ECB or other major central banks indicate they are concerned by growing signs of economic weakness and declining rates of consumer price inflation, the gold price is likely to re-enter an uptrend that could continue for some time. As the IMF recently observed,[6] the global ‘shadow banking system’ has been growing rapidly, fuelled by rapid money supply and credit growth, and has again become a potential source of systemic risk, as it also was back in 2007-8. By the time the IMF makes such observations, prepares a report, approves it for publication and makes it available for external distribution, you can be rather certain that the developments in question have long since rung the alarm bells in the hallowed halls of that esteemed supranational financial regulatory institution. The Bank for International Settlements published a report expressing similar concerns over the summer. Longer-term, with economic officials stubbornly clinging to worn-out monetary stimulus measures that have lost most if not all their effectiveness due to excessive debts, public and private, and with an equal reluctance to implement any meaningful structural reforms to encourage sustainable business investment and boost productivity, there is simply no where for the gold price to go but up as the effective purchasing power of fiat currencies goes down.
There is also the possibility that, when investors least expect it, certain currencies, perhaps even major ones, suffer sudden crises of confidence in which the threat of devaluation looms. The dollar itself is not immune, given that the US possesses the world’s largest cumulative external trade deficit. Indeed, I have long predicted an eventual loss of pre-eminent reserve status for the dollar, something that would send the greenback lower and dollar interest rates higher when it occurs. Gold is a form of insurance against this eventuality or against currency crises more generally, as indeed it always has been. For those so concerned, the ideal time to add to such insurance is when it is temporarily ‘on-sale’, as it is today at just under $1,200/oz.












This Will Not End Well (In The Short Term)




Zero Hedge: Just hours after the World Health Organization warned "It is quite unavoidable, that [Ebola] incidents will happen in the future because of the extensive travel both from Europe to the affected countries and the other way around," CDC Director Tom Frieden announced that: U.S. TO ANNOUNCE FURTHER TRAVEL MEASURES VS EBOLA IN DAYS: CDC. This merely confirms all suspicions and our earlier note that 'air traffic is the driver' of global contagion. As Reuters reports, Europe will almost inevitably see more cases of the deadly Ebola virus within its borders but the continent is well prepared to control the disease, the World Health Organization's regional director said on Tuesday. Speaking to Reuters just hours after Europe's first local case of Ebola infection was confirmed in a nurse in Spain, the WHO's European director, Zsuzsanna Jakab, said further such events were "unavoidable". Spanish health officials said four people had been hospitalized to try and stem any further spread of Ebola there after the nurse became the first person in the world known to have contracted the virus outside of Africa. "Such imported cases and similar events as have happened in Spain will happen also in the future, most likely," Jakab told Reuters in a telephone interview from her Copenhagen office. "It is quite unavoidable ... that such incidents will happen in the future because of the extensive travel both from Europe to the affected countries and the other way around."








Mike Adams (NaturalNews): Health authorities in Spain have confirmed that a member of a medical team working in a modern hospital somehow managed to contract Ebola from a patient she was treating. As Associated Press reports: Spanish authorities said they were investigating how the nurse became infected at a hospital with modern health care facilities and special equipment for handling cases of deadly viruses. "...Staff at the Carlos III hospital where she worked claimed the protective suits they were given were not good enough," reports the Daily Mail. "Unnamed sources told Spanish daily El Pais the suits did not meet World Health Organisation standards. They said the suits they were issued with were permeable and lacked breathing apparatus." Modern health care facilities didn't protect this nurse from Ebola. It is apparent from the reporting of this incident that: The nurse was wearing medical isolation gear, and she knew she was treating an Ebola patient. She had access to all the advantages of "modern health care facilities." She was fully versed in infectious disease safety protocols and practices. And yet, despite all these advantages, this nurse still got infected by a virus that the CDC insists can only be transmitted via "direct contact." Medical staff infected when removing protective gear? As the Daily Mail reports, Dr. Ben Neuman, Lecturer in Virology at the University of Reading, has theorized that the nurse in Spain may have been infected by coming into contact while removing her protective gear: Nurses face a problem in that a person who is sick with Ebola can make quite a lot of highly infectious waste, as the patient loses fluid through diarrhoea and vomiting. Those bodily fluids can contain millions of Ebola viruses, and it only takes one to transfer the infection. The protective suits that Ebola workers wear provide excellent protection, but there is a danger when it is time to take the suit off. It is also possible that a tiny amount of Ebola-containing liquid splashed on the protective garments, and then was transferred to her skin while removing the protective clothing. What Dr. Neuman is describing, of course, is infection via INDIRECT contact -- a scenario that the U.S. Centers for Disease Control continues to claim is impossible. CDC director Tom Frieden continues to publicly claim that Ebola can only be contracted from "direct contact." This false claim is one of the five biggest lies about Ebola that the U.S. government continues to spread. The danger in this lie is that it encourages Ebola to spread more rapidly because citizens and front line health care workers are failing to take appropriate steps to protect themselves from acquiring the virus. If the CDC really wanted to halt Ebola in America, it would be demanding that all health care workers wear full face respirators when coming anywhere near an Ebola patient. But instead, we get the mantra of denial: "Ebola can only spread through direct contact." Tell that to the nurse in Spain. Learn more: https://www.naturalnews.com/047164_Ebola_pandemic_direct_contact_protective_gear.html#ixzz3FVhjisMe










(NaturalNews) Not long after its publishing, Professor Gilles-Eric Seralini's landmark study on genetically modified (GM) NK603 corn and Roundup herbicide received considerable undue criticism from the mainstream scientific community, which clearly didn't approve of its findings. But this doesn't negate the fact that Seralini's study exceeded the standard criteria for honest scientific inquiry, being the only study of its kind to look at the long-term effects of GMOs on mammals. Here are 10 things you need to know about Seralini's study that validate its findings and put to shame the liars who claimed that it was a fraud. 1) Seralini study looked at toxicity, not cancer. One of the major criticisms levied against Seralini's work alleged that it was a badly designed cancer study. But it was actually a toxicity study that just so happened to observe cancer as a byproduct of GMO exposure. And based on the criteria of a toxicity study, Seralini's work was both well-designed and well-conducted. 2) No other studies have looked at long-term GMO toxicity. Some have tried to claim that Seralini's findings deviate too much from the norm to be accurate. But no other long-term toxicity studies on either GMOs or Roundup have ever been conducted, so of course his findings are going to stray from the status quo. 3) Everyone uses Sprague-Dawley (SD) rats. Claims that Seralini's study used the wrong variety of rat, known as Sprague-Dawley (SD), are also invalid. Nearly every GMO food study ever conducted, including the pitiful, 90-day feeding studies conducted by Monsanto, has used SD rats as subjects since they're a good crossover for assessing how humans will respond to a particular exposure. 4) SD rats and humans are almost equally prone to cancer. As far as cancer risk, SD rats are almost just as prone to tumors as humans are, as evidenced by the fact that almost all toxicity, and even carcinogenicity, studies use SD rats as subjects. And just like people, SD rats have a higher risk of cancer the older they get, which makes them especially appropriate for long-term safety studies. 5) Seralini's sample size was appropriate by normal standards. Critics of Seralini's allegedly small sample size should take a look at all of Monsanto's toxicity studies -- they're exactly the same! The only difference is that Seralini actually looked at how rats are affected by GMOs and Roundup over the long haul rather than just 90 days. 6) If Seralini study isn't valid, neither are Monsanto's studies. The irony in the scientific elite declaring Seralini's study invalid is that, by the same standards, so are Monsanto's GMO safety studies. Since Seralini's study criteria matched or exceeded everything Monsanto and others have done, at least in terms of protocol -- as previously mentioned, Seralini's study is the only one that looked at GMOs long-term -- then either his study is valid or theirs aren't. You can't have it both ways. 7) Seralini study invalidates Monsanto 'safety' studies. Since the Seralini study is, in fact, completely valid, this poses a major problem for the establishment. By looking at how rats react to Monsanto's GM corn and Roundup herbicide over the course of two years rather than just three months, Seralini has proven that Monsanto's own short-term safety studies are inherently flawed. 8) Regulators are wrong; GM corn and Roundup are highly toxic to mammals. Whenever an industry-backed safety study has even suggested possible toxicity from GMO exposure in the short term, regulators have been quick to dismiss such findings as "not biologically meaningful." But based on Seralini's findings, the questionable toxicity outcomes in Monsanto's own research actually affirm that GMOs can lead to organ damage, cancer and premature death in the long term. 9) No governments even require long-term safety studies. It's interesting that the type of research Seralini conducted is not required by any single government anywhere in the world. The basis for every GMO approval thus far has only been limited, 90-day feeding studies that, on occasion, suggest toxicity, but never actually prove it. This is convenient for Big Biotech, which never has to face the fact that its products cause cancer and death, as demonstrated in Seralini's study. 10) Seralini isn't alone in discovering GMO toxicity. While many of his peers have refused to vet his work due to political pressures, Seralini is supported by a number of other independent researchers who have come to similar conclusions about the toxicity of GMOs. GMOEvidence.com outlines many of these, including studies on the toxicity of both Roundup and GMOs in piglets, dairy cows, bees, various aquatic animals and other organisms. https://www.gmoevidence.com/criigen-gm-maize-and-roundup-can-cause-tumours-multiple-organ-damage-and-premature-death/










Susan Duclos (AllNewsPipeline.com): After going over all the recent headlines regarding the chaotic reporting over the first case of Ebola in the US, as well as the blockbuster news the Golden State Fire Department tweeted that DART teams (Disaster Assistance Response Teams) were notified months ago to prepare to be activated in the month of October and that EMS and hospitals would be "overwhelmed," Nathan Leal from The Watchmen's Cry joins Rick for a spirited discussion of "of plagues and pestilences upon rebellious nations." As to the controversial twitter statements, it is a good thing that the SHTF Plan captured the tweets and reported them because suddenly and mysteriously, the Twitter account for the Golden State Fire Department no longer exists.






Susan Duclos (AllNewsPipeline.com): We'd consider the GlobalIncidentMap.com that is detailed in the video, https: //www.youtube.com/watch?v=a4wnUwnQRsc, the scariest map ever, as America appears to be the target of a MASSIVE and MULTIFACETED biological weapons attack. This map from the'Global Incidents Outbreak Map' even coincides with this newly released alert from the website of Steve Quayle, some of which is excerpted below. Straight from the global incident map website.: "Displaying Outbreaks, Cases And Deaths From Viral And Bacterial Diseases Which Have ThePotential To Indicate Biological Terrorism." Check out the 2nd map BELOW the video for specifically America; why does America have FAR MORE INCIDENTS than West Africa where the Ebola outbreak began? In the 2nd video below, Susan Duclos brings us MUCH more, providing a perfect answer to our questions about this bizarre map: “Have These Psychopaths Created The Perfect Bio Weapon?” What you’re seeing here is the initial global footprint of the Ebola virus. It is most likely that each one of the above countries has more than one case; and, they are struggling to maintain the public’s confidence. We should see a second global wave of Ebola cases following a brief incubation period. The secondary global outbreak will be under-reported, as well. Around the end of October/beginning of November, during the tertiary wave, it will become apparent this is a global pandemic that has spiraled completely out of control. At this point, economies will start to falter, airline travel will decline rapidly, and governments around the world will blame each other for lack of truthfulness. One may appropriately expect the spread of Ebola through the international community to look like the spread of Enterovirus-68 in the United States: 1. Initial outbreaks played down and under-reported. 2. Initial reporting suggests the government and health agencies are responding appropriately. 3. Spread has reached several states. 4. Number infected suggests it is completely out of control. 5. Confirmation that it is completely out of control. 6. Increase in morbidity and mortality. 7. Public panic ensues. It is possible the spread of Ebola will burn through the population like the flu-both have similar infection mechanisms and life expectancies in the external environment. Let’s pray this assessment is completely wrong!










Mac Slavo (www.SHTFPlan.com): It’s about to get a whole lot easier to make a semi-automatic rifle at home with no serial number, no background check, and no waiting period. Cody Wilson, the libertarian behind the world’s first 3D-printed gun, is now selling an all-in-one desktop CNC mill, called the Ghost Gunner. It can produce an aluminum lower receiver of an AR-15 rifle — the civilian version of the military’s M-16 assault rifle — in a couple of hours. The lower receiver, which connects the stock, barrel, magazine, and other parts of the gun together, is the component that is legally considered to be a firearm under US law — and its sale is highly regulated. The Ghost Gunner is programmed to take a partially-complete lower receiver, known as an “80 percent lower,” and automatically mill it into a functioning part. From there, all you have to do is buy the other widely-available components online and assemble the rifle. As Wilson explains on the product’s website, “on day one, Ghost Gunner can help you legally manufacture unserialized firearms in the comfort of your own home.” - See more at: https://www.thedailysheeple.com/ghost-gunner-3d-printer-legally-make-your-own-rifle-at-home-no-serial-number-no-background-check-and-no-waiting-period_102014#sthash.Z77oqQdj.dpuf








Alan Caruba (FactsNotFantasy.Blogspot.com): What is obvious to many observers of Obama is that he is immune to evidence and the advice based on it because he is convinced of his superior intellect and judgment. He has neither. The situation is so bad regarding his very late response to the Islamic State that his generals are openly saying that an air campaign is not going to hold them back and, indeed, as this is being written, they are knocking on the gates of Baghdad in Iraq and Kobani in Syria’s north. It is unlikely that most people in the West grasp the insanity of Iran’s Islamic view of the world. Most certainly Obama gives no indication of that. In his recent speech to the UN General Assembly he said the conflict in the Middle East is “a fight no one is winning.” He should read the newspapers or look at the TV news. To grasp what drives the Iranian leadership, a quote from the Ayatollah Ruhollah Khomeini, the leader of the 1979 revolution, is worth considering. “If one permits an infidel to continue in his role as the corrupter of the earth, the infidels moral suffering will be all the worse. If one kills the infidel and this stops him from perpetrating his misdeeds, his death will be a blessing to him.” So, nuclear missiles that destroy New York, Washington, D.C., and anywhere else where millions of infidels are found are a good thing if you’re an Iranian leader. Obama simply does not get this or refuses to do so. His failure puts us closer to a nuclear cataclysm with every passing day.


Luke 13:1 ¶There were present at that season some that told him of the Galilaeans, whose blood Pilate had mingled with their sacrifices.
2 And Jesus answering said unto them, Suppose ye that these Galilaeans were sinners above all the Galilaeans, because they suffered such things?
3 I tell you, Nay: but, except ye repent, ye shall all likewise perish.
4 Or those eighteen, upon whom the tower in Siloam fell, and slew them, think ye that they were sinners above all men that dwelt in Jerusalem?
5 I tell you, Nay: but, except ye repent, ye shall all likewise perish.















****************










Harvey's comments on Tuesday price action (basis 1:30 PM EST)










Quote:



Gold closed up $5.00 at $1211.70 (Comex to Comex closing time).


Silver was up 1 cent at $17.19.






In the access market tonight at 5:15 PM:


Gold: $1209.00


Silver: $17.15













Monday, Oct 6th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/10/oct-7gld-remains-constantslv-loses.html














Total, Oct (Gold), Nov (Silver), Dec (Gold, Silver) Open Interest










In silver:






Quote:



The total silver Comex OI surprisingly fell by 1933 contracts with silver up yesterday to the tune of 40 cents. Again we must have had some short covering. Tonight the silver OI complex rests at 170,511 contracts. In ounces, this represents 852 million oz or 121.00% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests.






The next non active silver contract is October and here the OI fell by 2 contracts down to 289 contracts. We had 13 notices served upon yesterday so we gained 11 silver contracts or an additional 55,000 ounces will stand for delivery in October. November is also a non active delivery month and here the OI went up by 7 contracts to 92.




The December silver contract is a biggy contract month and tonight it rests at 120,971 contracts for a loss of 2270 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 604 million oz or 86.2% of annual global production.













In Gold:






Quote:



The total gold Comex open interest surprisingly fell today by a rather large 44177 contracts from 385,559 all the way down to 381,142 with gold up by $14.50 yesterday. We must have had some short covering today. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 321 contracts down to 1,592. We had 57 notices filed yesterday so we lost 264 contracts or 26,400 oz will not stand for the October contract month.The November contract month saw its OI rise by 23 contracts up to 322. The December contract fell by 4596 contracts down to 277,408.













Volume










In Silver:






Quote:



The estimated volume today was good at 40,344. The confirmed volume yesterday was also good at 41,021` contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 133,207 contracts. The confirmed volume yesterday was good at 152,840.















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit: nil oz.




We had 0 dealer withdrawal:


Total dealer withdrawal: nil oz.


We had 3 customer withdrawals:
i) Out of Brinks: 185,663.200 oz
ii) Out of Delaware: 3,985.300 oz
iii) Out of JPM; 22,596.111 oz.
Total customer withdrawal: 212,245.111 oz.


We had 2 customer deposit:


i) Into CNT: 603,000.21 oz.
ii) Into Scotia: 598.948.55 oz.
Total customer deposits: 1,201,948.76 oz.




We had 1 adjustment:


i) Out to the Brinks vault:


398,038.06 oz was adjusted out of the customer and this landed in the dealer account at Brinks.


Total dealer inventory: 65.983 million oz
Total of all silver inventory (dealer and customer) = 183.491 million oz.











In Gold Inventory:






Quote:







We had zero dealer transactions today
Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 2 customer withdrawals:
i) Out of Manfra: 32.15 oz or 1 kilobar
ii) Out of Scotia: 32,150.00 oz or 1000 kilobars
total customer withdrawals: 32,182.15 oz (1001 kilobars)




We had 1 customer deposit:
i) Into Scotia: 6430.000 oz (200 kilobars)
total customer deposit: 64,300.00 oz




We had 0 adjustment:
Total Dealer inventory: 945,488.206 oz 29.408 tonnes
Total gold inventory (dealer and customer) = 9.146 million oz (284.50 tonnes).
A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 19 tonnes have been transferred out. We will be watching this closely!
Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 7 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 7 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.















Delivery Notices










In silver:






Quote:



The CME reported that we had 77 notices filed for 385,000 oz today.













In gold:






Quote:



Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 7 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices were stopped by JPMorgan customer account.


We had 7 notices served upon our longs for 700 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_London_and_Shanghai.htm#Comex_silver






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 363 x 5,000 oz per contract or 1,815,000 ounces upon which I add the difference between the open interest for the front month of October (289) - the number of notices served upon today (77) x 5000 oz per contract










Thus Oct. standings for silver: 363 notices x 5,000 oz per notice or 1,815,000 oz + (289) - (77) x 5,000 oz = 2,875,000 oz


We gained an additional 55,000 silver ounces that will stand for silver at the Comex for the October delivery month.


This level will continue to rise as the month progresses.




It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.






These look like paper deposits/withdrawals where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.











In gold:






Quote:



In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 483 x 100 oz = 48,300 oz,to which I add the difference between the open interest for the front month of October (1592) minus the number of notices served upon today (7) x 100 oz = 206,800 oz or 6.43 tonnes.


We lost 26,400 oz of gold standing tonight.


Thus: October standings: 483 contracts x 100 oz = 48,300 oz + (1592) - (0) x 100 = 206,800 oz or 6.43 tonnes.















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 1,015.00, down 1.36%. WTI November crude was 88.49 down 1.88. Brent crude was 92.11 down 0.68. The spread between Brent and WTI was 3.62 up 1.20. The 30 year US Treasury bond was down 0.0700 at 3.0600. The 10 year T-Note was down 0.0700 at 2.3500. The dollar was down 0.17 at 85.66. The PPT/Dow was 16,719.39 down 272.52. Silver closed at 17.19 down 0.16. The GSR was 70.2909 up 0.7347 oz of silver per oz of gold. CIA's Facebook was 76.29 down 1.27 (1.64%). December wheat was up 14.75 at 506.250. December corn was up 8.00 at 340.50. December lean hogs were down 1.525 at 94.350. November feeder cattle were up 2.150 at 242.425. December copper was up 0.003 at 3.039. November natural gas was up 0.059 at 3.957. December coal was down 0.30 at 53.10.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Wed, Oct 8, 2014 - 10:39pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 8 Oct 2014

This is DayStar (DS) with the Wednesday Harvey Report.










News and Commentary










Mark O'Byrne (Goldcore): Hardly a day goes by without a headline on the spread of the deadly Ebola virus in West Africa and now in Spain and in the U.S. With more than 3,500 deaths and about 8,000 reported cases, it is one of the most severe disease outbreaks in recent years. [ DS: It is the most severe outbreak ever by a long shot.] So far, there has been little attention on the financial and economic consequences of a pandemic.
Global economic growth remains weak and vulnerable and the global financial system remains very fragile. The ebola virus has the potential to be the straw that breaks the proverbial camel’s back. Stocks and commodities fell globally today due to concerns about the spread of Ebola and declining economic growth. Precious metals bounced from near multi month lows. Airlines led the sector lower, having come under pressure from the spread of the Ebola virus to Europe. Shares in travel companies including budget carrier Easyjet, Iberia owner International Airlines Group and cruise company Carnival are down for a second day after a Spanish nurse in Madrid became the first person outside Africa to contract the deadly Ebola virus.
Fears that this could put people off travelling or that travel restrictions could be imposed hit travel companies. EasyJet shares lost nearly 3% this morning, Carnival was down almost 2% while IAG and Tui Travel shed 1.9%. The emergence of Ebola in Madrid, the Spanish capital, will do little for consumer confidence in the struggling Spanish economy. Similarly, the emergence of Ebola in Texas and Washington risks impacting on the fragile U.S. recovery. The Obama administration is developing additional screening protocols for airline passengers both overseas and in the United States to control infectious diseases like Ebola, the president said Monday. [ DS: Nothing like staying ahead of the curve, eh, guys? I thought figuring out ways to control disease was what you got paid for, and you are having to make it up as you go along????? ] Pandemics can severely affect supply chains, including food supplies, business operations and key government services such as the provision of water, electricity, education and of course health care. Travel restrictions and “stay at home” policies bordering on curfew would greatly curtail economic activity. There is also an element of the “boy who cried wolf” regarding the ebola virus. There have been numerous alarmist campaigns and scaremongering regarding many viruses - bird flu, swine flu, H1N1 et cetera, et cetera. There have been so many false alarms that when an actual pandemic commences, people may ignore the threat for longer than is wise. Therefore, the public in many western countries will remain skeptical of the risk of ebola virus until it has been shown to be a real threat. This in itself poses risks as it means that people do not act in a precautionary manner thereby exposing themselves to potentially contracting the virus.




Goldcore on End of Chinese Holiday: Chinese bullion investors are back after their week-long National Day holiday and initial signs are that Chinese demand remains robust. Gold jewellery sales rose 106% at Hangzhou Department Store, at Tianjin stores gold and silver jewellery sales rose more than 40% according to data from the commerce ministry reported by Reuters. However, there are no overall jewellery sales figures available.
The bounce higher in gold and silver in recent days is encouraging from a technical perspective. Gold may have seen a triple bottom which is a strong technical signal which often signals the reversal of a recent downtrend and can often occur prior to a resumption of a bull market. It is too early to call the bottom as in. Prudent buyers will continue to accumulate through dollar cost averaging into bullion.








William Barkshire (Financial Times, London): There have been many false dawns in the progress to open up China's participation in global capital markets. That has led to the loss of interest by some overseas investors and in some cases retrenchment. However, under Xi Jinping's leadership market liberalisation is now gathering a real pace and international players should start paying more attention to concrete evidence of development. The announcement in April by the central government of the Hong Kong Exchanges and Clearing and Shanghai Stock Exchange Stock Connect link underpins this tangible change. Set to go live later this month, it is likely to see interest from funds that do not currently have access to China via the qualified foreign institutional investor quota schemes seeking either yield pick-up or to trade the valuation differential between stocks listed in both Hong Kong and Shanghai. While this project is significant, it will be eclipsed in the long term by the scale and scope of other projects. The key policy focus in Beijing is on developing those markets that can assist China in its economic development, or what might be termed its "real" economy rather than just the financial services sector. Central to this is the move toward market-based pricing in commodities, where China is the major global consumer. Here the political desire is for price discovery to take place in Asia and not just in London, New York, and Chicago. DS: Jim Willie said over the weekend that China was going to announce a test price for gold and silver on its new exchanges that would be 2-4 times the Comex price. Like Bill Holter has theorized, they would "test" a market price at say, gold at $2800 and silver at $40, and buy everything the West was willing to "arbitrage". Such actions would clean out the Western coffers and show them them for the fraudsters that they are.






David Marsh (USA Today): Protests over democracy in Hong Kong may be preoccupying the Chinese leadership, but a subject of still greater international importance is being played out this week behind closed doors in Washington. China is bidding to enter the heart of global finance by establishing its currency, the renminbi, as part of an ubiquitous monetary unit used in official transactions around the world. The issue of whether the Chinese should be part of the International Monetary Fund's Special Drawing Right, the composite reserve currency used in official financing, is highly technocratic, but the political questions at stake go to the core of world money and power -- and will be discussed, in the background, at the annual meetings of the IMF and World Bank in Washington this week. The decision on a new SDR structure, to be made in the next 15 months, will influence how China and its currency can play a bigger part in driving world trade, investment, and capital flows. The renminbi eventually could challenge the dollar and its pivotal position in world money -- which is why the U.S. government and Federal Reserve are examining this with intense interest. China is unlikely to mount an open campaign to enter the SDR, grouping the main reserve currencies, the dollar, the euro (linking countries in European monetary union led by Germany and France), the Japanese yen, and British pound, and is valued at around $1.5. Beijing would prefer the question of recalculating the composition of the SDR, which comes up for review in 2015, to follow market developments, reflecting a big increase in demand for renminbi financing from private banks, central banks, traders, corporations, and asset managers. Many hurdles remain. These include the renminbi's lack of formal convertibility for transactions that shift capital inside and outside the country, where Beijing is reluctant to abolish all controls. In addition, China still has to release more statistics to the fund about its monetary reserves and other matters. However, Chinese measures over the past three years to liberalize and internationalize its currency, and a big increase in financial market interest in China, are pointing toward a broadening of the SDR's composition from January 2016.






Harvey: GLD: As of 6 PM EST we had a huge withdrawal of 5.39 tonnes of gold at the GLD (inventory now at 762.08 tonnes). SLV: As of 6 pm tonight we have no changes in inventory (inventory now 349.071 million oz). Today, the big news came from the Fed, in their beige book report stated that the dollar was too strong and the business climate throughout the globe was worrisome. This set gold and silver on fire at 2.00 pm. We have other stories including the continuing crisis with Ebola. The USA's first Ebola patient has died. GOFO was positive but decreasing. One month now stands at .055000%.








Tom Braithwaite and Tracy Alloway (Financial Times, London): The world's biggest banks have agreed to tear up the rulebook on derivatives to make it easier to resolve a future failing institution like Lehman Brothers.
People familiar with the matter said 18 bank "dealers," ranging from Credit Suisse to Goldman Sachs, have agreed to give up the right to pull the plug on derivatives contracts with a crisis-stricken institution.
Several months of complex talks involved regulators and asset managers but were led by dealers under the umbrella of the International Swaps and Derivatives Association. US regulators, who have previously condemned the industry's crisis planning as inadequate, had demanded banks come up with a plan to stop their counterparties terminating derivatives contracts in the event of a crisis. The banks portrayed the success of the talks as a rare positive example of industry collaboration. ISDA is due to announce the agreement to change its "protocols," which govern the $700 trillion market, in the next few days. They will take effect from January 1, 2015. According to a report from the US Government Accountability Office, 80 per cent of Lehman's derivatives counterparties closed out their deals with the bank within five weeks of its bankruptcy filing.
That, in theory, helped the companies mitigate their counterparty risk with the failed bank but it also meant that Lehman's estate had to spend years in court trying to claw back collateral from its partners. "One of the problems with Lehman was when there was a failure of one subsidiary clients of derivatives trades took funding away and took business away, adding to market instability," said one bank negotiator. This also made it harder to find buyers for the rump of Lehman. The current thinking among regulators is that the core of a failing institution should be preserved. Although shareholders would be likely to be wiped out, the operating company would be recapitalised or sold to mitigate the shock to the broader financial system. "You have the financial sector absorb the losses but you have the company stay in business," said another industry negotiator. "Assuming it gets signed up, it's a very important step in ending 'too big to fail.'"










Catherine Bosley (Bloomberg News): Asking the Swiss National Bank to hold a fixed portion of its assets in gold would hinder monetary policy, the government said today. On Nov. 30 Switzerland will vote on the initiative "Save Our Swiss Gold," which would force the central bank to hold at least 20 percent of its assets in gold. It would also forbid the sale of any such holdings and require all the gold be held in Switzerland. "A rigid and unsaleable minimum gold holding would make it difficult for the SNB to fulfill its mandate to ensure price stability and to contribute to the stable development of the economy," Finance Minister Eveline Widmer-Schlumpf said at a press briefing in Bern today. Both parliament and the government have already recommended that voters reject the initiative. Opinion polls will be published this month. The SNB's balance sheet ballooned in the wake of the currency interventions it waged to defend the minimum exchange rate of 1.20 per euro set in 2011. The SNB held foreign-exchange reserves of 462.2 billion francs ($481 billion) at the end of September, with total assets of about 522 billion francs. Harvey: Circle this date: Nov 30.2014/the Swiss referendum. The fun will begin the next day!








Yuliya Fedorinova and Andre Janse van Vuuren (Bloomberg News): Platinum prices have tumbled about 20 percent since Russia and South Africa agreed on a plan in March 2013 to set up a bloc to coordinate exports. While palladium is little changed in that period, both metals are down more than 10 percent since August. Platinum rose 1 percent to $1,258.56 an ounce by 12:51 p.m. in London, while palladium gained 0.4 percent to $770.75. South Africa mines about 70 percent of the world's platinum and Russia 40 percent of its palladium. Officials from Russias central bank and OAO GMK Norilsk Nickel, the world's biggest producer of palladium, which is part of the precious-metal group, will attend the meeting next month, according to Natural Resources Minister Sergei Donskoi. "This won't be a trading agreement, but the main aim of this cooperation is to put together the interests of the two countries in this field," Donskoi said in an interview last week at Bloomberg's Moscow office. One option is for the central banks to boost purchases of platinum and palladium, he said. DS: So, with a price fixing cabal, demand fell off so much that prices still declined. Now they want the banks to bail them out. I wonder why they can't sell paper platinum on Comex like they sell paper everything else. Like Lindsey Williams said, Only gold and silver will remain standing. All paper assets will go to zero.




Chris Powell (GATA): Another statistical study has concluded that the bullion banks involved in the London daily gold price fixing long have manipulated the price, apparently front-running their clients' trades. The new study, published in the September issue of the Journal of Futures Markets --https://onlinelibrary.wiley.com/enhanced/doi/10.1002/fut.21636/ -- was conducted by a PhD student at the University of West Australia in Perth, Andrew Caminschi, and his professor, Richard Heaney, and was described in a report published this week in Perth's newspaper, The West Australian.




Don Popescu (GoldBroker.com): Again this week the gold price tested the $1,200 level dropping below it on higher US dollar against most fiat currencies. It is assumed that a stronger US dollar against the euro and other fiat currencies is also negative for the price of gold. However gold is not a hedge against the US dollar but rather against all fiat currencies. Even though gold’s price has been falling, in India and China gold premiums have increased signifying a rising demand. We have also seen a substantial increase in silver and gold coin sales in the US. Actually gold coin sales doubled in September compared to August. With sentiment at historic low and more and more articles coming out with titles like “Gold Dies”, I am more convinced than ever that we are seeing a major bottom being created. Eastern central banks are still buying massively and Western central banks are holding on to their stock. This doesn’t look to me as a continuation of a downtrend. In a recent article in the London Financial Times, John Dizard mentioned an increase in gold’s “popularity as a medium of exchange for international transactions has been soaring, particularly in the past few months as the impact of US government sanctions on non-compliant banks has become severe.” And that, despite gold being “the most expensive and least convenient of all of the monetary alternatives to the dollar.” I emphasize the words “medium of exchange” and “soaring”, because if we believe the mainstream media nobody wants to use gold as money because it is expensive and least convenient. I mentioned it in a previous article on gold sentiment but I wanted to mention it again because I think it is a very important piece of information. Physical gold is being accumulated and used in exchanges but very discretely as of now. In a recent report mentioned in the UK Telegraph it is revealed that a record number of super-rich elite are buying gold bullion bars weighting 12.5 Kg. The report says “The gold buying secrets of the UK come as it was recently revealed the number of 12.5kg gold bars being bought by wealthy customers has increased 243% so far this year, when compared to the same period last year.” The geopolitical and economic environment in the last few months was in my view the calm before the storm. All the economic issues both in Europe and the US and all the geopolitical conflicts I mentioned above, or a combination of them have the potential to degenerate “unexpectedly”. Both the economic and political environments are uncertain and will surprise the complacent markets.






Bill Holter (Miles Franklin): QE by the major western economies can be looked at as the inflation rate going higher. In both Europe and Japan, the money supplies are increasing, their currencies are dropping in value and "stuff", all stuff costs more. The problem is that both central banks (as is also the Fed) are pushing on a string and cannot get already overlevered borrowers to borrow more or spend much of the credit the central banks are creating. There are also other problems the strong dollar brings with it. It makes our production of goods (what's left of it) more costly and thus less competitive, it makes dollar denominated debt more difficult to carry and it also lowers any profits made by U.S. companies as the foreign currencies earned are worth less. A stronger dollar that moves as fast as it had recently also has the potential to set derivatives off balance and as derivatives are now larger than the system itself ...a danger to the system itself. Remember this, ANY big moves in a short period of time have the ability to bankrupt holders of derivatives and the "chain" is only as strong as the weakest link. Should a large Japanese, European, U.S. or other bank become insolvent because of losses in the FOREX market, they ALL will become insolvent in a very fast "financial virus" or chain reaction type of event. The U.S. economy and financial system have become a mirage, and, as such, we will see another round of new, bigger and badder QE once the realities begin to set in. Creating new dollars via credit is the only tool left in the Fed's bag of tricks. DS: Nope, Bill. The Fed can still devalue the dollar as Christine LeGarde has long wanted to do.




Tyler Durden: And it all started off so promisingly, when after the biggest selloff in US stocks in two months, the BOJ and its preferred banks once again sold 6J (i.e., bought USDJPY) in the morning Japan session (while collecting CME liquidity rebates of course), sending the pair from below 108 to half the way to 109, and naturally taking global futures higher while pushing yields lower when as ITC says a "large TY seller knocked USTs to lows during the session" - hmmm, wonder who the large seller was. And then... the "rebound euphoria" fizzled a la Sodastream, sending the Nikkei sliding 1.2%, and US equity futures back to unchanged with the bond surge returning and sending German Bunds to new all time highs once again, while the Dax briefly broke below under 9000 before stabilizing at the key support level. It is unclear what caused the failure in central bank euphoria, although some suggest that the latest bevy of disappointing economic news wasn't quite bad enough.




Zero Hedge: As much as Russia wants to telegraph that western sanctions are not hurting it nearly as much as they are Europe (where the recent escalation in political hostilities between West and East has undoubtedly accelerated Europe's tumble into a triple-dip recession), the reality is that they are. A quick example from BBG: There are many ways to measure the deepening financial crisis spreading across Russia. The ruble is sinking more than any other currency in the world, foreign reserves have plunged to a four-year low and the economy is teetering toward recession. Galina Mityaeva measures it in centimeters. The half stick of braunschweiger sausage that the 69-year-old retiree used to buy for her husband each week is now just too expensive. Cut it a little shorter, she instructs the deli counter clerks at the supermarket she shops at outside of Moscow -- a quarter stick will have to suffice. “Every time I go to the store, food is more expensive,” Mityaeva said as she strolled through the grocery aisles on a recent afternoon. “People are angry right now. In the store lines, you can hear people complaining: ‘What can I afford to buy with 1,000 rubles?’” The irony is that despite the people's hardships, Putin's popularity is still the highest it has ever been: "His approval rating rose to 86 percent in September from 65 percent in January, according to pollster Levada Center, which surveyed 1,600 people across Russia over four days." One wonders if this is due to Russia's innate (and historically proven) ability to handle misfortune far better than the west, or simply people are happy to suffer out of spite if it means that their adversaries will suffer even more. For now, this angle is working, because a recession in Europe should more than offset a recession in Russian, if only through the prism of nationalist pride. Additionally, Russia's key opponent, Ukraine, is not doing any better




UMIT BEKTAS (Reuters): Turkey's president said on Tuesday the Syrian Kurdish town of Kobani was "about to fall" as Islamic State fighters pressed home a three-week assault that has cost a reported 400 lives and forced thousands to flee their homes. The prospect that the town could be captured by Islamic State, who are now within city limits, has increased pressure on Turkey to join an international coalition to fight against the jihadists. Islamic State wants to take Kobani in order to strengthen its grip on the border area and consolidate the territorial gains it has made in Iraq and Syria in recent months. U.S.-led air strikes have so far failed to prevent its advance on Kobani. Turkey said it was pressing Washington for more air strikes, although President Tayyip Erdogan said bombing was not enough to defeat Islamic State, and he set out Turkey's demands for additional measures before it could intervene. "The problem of ISIS (Islamic State) ... cannot be solved via air bombardment. Right now ... Kobani is about to fall," he said during a visit to a camp for Syrian refugees. DS: There are boots on the gound in Kobani: a bunch of tough, desperate, fierce, but lightly armed Kurds defending their homes and families. I guarantee that if some B-52s and B-1s carpet bombed ISIS, it would make a difference. The US is just playing around with these airstrikes. ISIS represents, in terms of an an old bombardier "a target rich environment", and if the West wanted to, ISIS would be slaughtered. Instead, the West prefers to launch a few cruise missiles and some training rounds at some Kurdish house and declare, "Airstrikes are ineffective". Yeah, they are ineffective if you don't use them.




Zero Hedge: A long and elaborate game of "keep away" will be played to prevent the Kurds from consolidating control over oil-rich territory in the Kurdish-Arab borderland, while the competition between Turkey and Iran will emerge into full view. For Turkey to compete effectively in this space, it will need to come to terms with the reality that Ankara will not defy its history by resolving the Kurdish conundrum, nor will it be able to hide within its borders and avoid foreign entanglements.






Tyler Durden: while people are expendable, even in the most banana republic, surging assets aren't, and while the regional violent protests would likely be ignored, it is the impact they are having on local stocks that has gotten the world's attention. To wit: the Turkish lira weakened for a second day and Turkish stocks dropped to a five-month low as nervous traders took profits following the breakout of deadly clashes.




Zero Hedge: The first US Ebola patient, Thomas Eric Duncan, who was treated in Texas, has just died: TEXAS HEALTH REPORTS DEATH OF EBOLA PATIENT THOMAS ERIC DUNCAN. And while we await the inevitable CDC press conference to follow, the stock of CMRX, whose medicine was being used to treat him, is plunging. A nephew, Josephus Weeks, said earlier today that Duncan did not receive any serum from Ebola survivors, a treatment given other survivors. Kent Brantly, a U.S. doctor who recovered after being infected, has donated serum to at least two other patients. Asked in a text-message interview if the family thinks blood serum derived from disease survivors should have been used, Weeks said, “We begged and pleaded several times. They said it’s too late in his treatment. They didn’t try any other options but saline, oxygen and water.” In any event, one can only hope he is the last Ebola casualty on US soil. Unfortunately, when the best plan the "smartest and brightest" in the room can come up with is to take the temperature of West Africa travelers, he won't be. DS: My analysis: The CDC wanted Duncan to die. They are stoking the fear of Ebola. It is one of the three-pronged attack against America. They are using the Ebola epidemic, ISIS attacks against soft targets, and a stock market crash to destroy the economy in America and plunge it into chaos.




Tyler Durden: Following the sad death of Thomas Duncan this morning, CBS is now reporting that a possible second case of Ebola has been discovered in a suburb of Dallas: *DALLAS AREA PATIENT SHOWS EBOLA SYMPTOMS: CBS. The patient claims to have had contact with Thomas Eric Duncan, referred to as Dallas ‘patient zero.’




Zero Hedge: US troops will be fighting Ebola for a year...Thousands of U.S. troops may be living in tent cities in Liberia and supporting the fight against Ebola for "about a year" or until the deadly outbreak appears to be under control, the top military commander in Africa said Tuesday. "This is not a small effort and it's not a short period of time," Army Gen. David Rodriguez, the chief of U.S. Africa Command, told reporters at the Pentagon. DS: It makes me wonder if these regiments in particular were disinclined to swear allegiance to BO.






This Will Not End Well (In The Short Term)










Hagmann and Hagmann: 2 October 2014: On the August 25, 2014 edition of the Hagmann & Hagmann Report, renowned author Steve Quayle, who wrote Breathe No Evil over a decade ago, and Dr. S., MD appeared on air to discuss the Ebola outbreak in West Africa. During this broadcast, I asked Dr. S., a well-established and respected medical doctor who has experience in mass casualty events, one critical question about the state of the Ebola outbreak: If you woke up one morning and heard just one news headline that would be a “game changer” based on your professional experience, what would it be? His answer was “when the first case of Ebola is confirmed in the United States.” He expanded on his answer later in the program by stating that it was a matter of when, not if we would experience such an event. That was nearly a month before this week’s news that a man in Dallas was confirmed to be infected with the Ebola virus. “If you have one case, you will have many more,” stated Dr. S., who requested anonymity for this interview. If there’s one, there will be a thousand, he added. In addition to the threat posed by Ebola, Steve and “Dr. S” provide practical advice for handling this threat










John Little (Omega Shock): Food and water are the two most pressing concerns, but we have a host of issues that still must be dealt with. What are your medical needs? Do you have a plan for self-defense – in case of looting? Do you have a proper defense against pandemic disease? Can you trust your neighbors? Your Neighbors. That last one is what normally concerns me most. If you can’t trust your neighbors, it’s time to get new ones. If your neighbors are of uncertain parentage, they will take what you have. You do NOT want to be in that position. Please understand that your happy-go-lucky, joe-sixpack neighbor across the street will not be that way, after he missed three meals and ran out of beer. You MUST evaluate how secure you are – where you are. You might be planning on bugging-out when things fall apart, but you might not be able to get out if your neighborhood us under quarantine. The other thing that you must do, is connect with a community of like-minded people. Long-term disaster is not survivable without a mutually supporting community. This, more than anything, may help you survive in an uncertain future. Even if you do not have the resources to prepare, connecting with others will give you an edge over the most prepared person who hasn’t bothered to reach out.










WSB-TV, Atlanta: 9:20 a.m. Tuesday: Plane carrying American doctor with Ebola lands at Dobbins Air Reserve Base. The doctor will be taken to Emory University Hospital. 10:21 a.m. Tuesday: The Ebola patient walked out of the ambulance with assistance and into Emory University Hospital. The hospital said they learned Monday a patient with Ebola virus infection will be brought to its isolation unit. The patient is being transported by air ambulance from Sierra Leone, according to a statement by Emory. The patient is expected to arrive Tuesday morning.






Lisa Haven (B4IN): News about the widening Ebola outbreak is getting worse by the day. Thus far, 7,000 persons have been infected and about 3,500 have died—including our first official case in Dallas, Texas. Furthermore, rumors have been circulating about the possibility of Ebola infected persons from Arizona all the way to Washington D.C. If these headlines have left you wondering whether we are nearing a global pandemic with scenes reminiscent of movies like “Outbreak”, then here is something to ponder, at a recent Ebola conference White House Correspondent with CBS News Major Garrett, accidently left his mic on and was caught saying “Were Screwed” about the Ebola virus. Here is a document (https://bioterrorism.slu.edu/bt/news/jama_vhf.pdf) put out by medical professionals entitled, Hemorrhagic Fever Virus as Biological Weapon Medical and Public Health Management. This document reveals more about Ebola than you probably wanted to know.










BioPrepper: Five places you don't want to be in an EMP: In an airplane. In a highway tunnel. In an elevator. In a hospital or nursing home. Near a nuclear power plant. What if you are the only one that owns a working car? If you do want to run the risk of owning a running vehicle — and if you’re a mechanic — you can disassemble electrical parts to things like an ATV or motorcycle and then store these electrical components in a device known as a Faraday Cage— which is a “do it yourself” metal box that can be used to protect small electronic devices from the effects of an EMP. This is reported to be a way to get older vehicles (early 70s for example and before) operating after an EMP has taken place. You may not be able to get a newer car back on the road — due to the sophistication and number of electrical components needing to be replaced — however an older vehicle with a lot less electrical related parts could get back on the road. Rather than counting on your car or truck, you may want to have some mountain bikes and bicycle trailers in your garage back at home (which of course may also make you a target of a heist). https://beforeitsnews.com/self-sufficiency/2014/10/electro-magnetic-puls...






Luke 21:36 Watch ye therefore, and pray always, that ye may be accounted worthy to escape all these things that shall come to pass, and to stand before the Son of man.
Proverbs 22:3 A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.
Mark 13:34-35 For the Son of man is as a man taking a far journey, who left his house, and gave authority to his servants, and to every man his work, and commanded the porter to watch. 35 Watch ye therefore: for ye know not when the master of the house cometh, at even, or at midnight, or at the cockcrowing, or in the morning:










****************










Harvey's comments on Wednesday price action (basis 1:30 PM EST)










Quote:



Gold closed down $6.40 at $1205.30 (Comex to Comex closing time).


Silver was down 18 cents at $17.01.






In the access market tonight at 5:15 PM:


Gold: $1221.00


Silver: $17.37













Tuesday, Oct 7th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/10/october-8gld-falls-by-539-tonne...














Total, Oct (Gold), Nov (Silver), Dec (Gold, Silver) Open Interest










In silver:






Quote:



The total silver Comex OI surprisingly rose by 722 contracts with silver up yesterday to the tune of only 1 cent. Our banker friends are not happy campers today. Tonight the silver OI complex rests at 171,283 contracts. In ounces, this represents 856 million oz or 122.00% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests. They tried unsuccessfully today.




The next non active silver contract is October and here the OI surprisingly rose by 48 contracts up to 337 contracts. We had 77 notices served upon yesterday so we gained 125 silver contracts or an additional 625,000 ounces will stand for delivery in October. November is also a non active delivery month and here the OI went up by 29 contracts to 121.




The December silver contract is a biggy contract month and tonight it rests at 121,296 contracts for a gain of 325 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 606 million oz or 86.5% of annual global production.













In Gold:






Quote:



The total gold Comex open interest surprisingly fell today by 1055 contracts from 381,142 down to 380,087 with gold up by $5.00 yesterday. Again we must have had some short covering. The next active delivery month is October and generally this is a very poor for deliveries. The October contract month fell by 274 contracts down to 1,318. We had 7 notices filed yesterday so we lost 267 contracts or 26,700 oz will not stand for the October contract month. Strangely this is almost the identical amount of contracts lost yesterday.(yesterday 264). The November contract month saw its OI rise by 2 contracts up to 324. The December contract fell by 1860 contracts down to 275,548.













Volume










In Silver:






Quote:



The estimated volume today was fair at 36,895. The confirmed volume yesterday was very good at 46,254` contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 171,080 contracts. The confirmed volume yesterday was fair at 150,446.






















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit: nil oz.




We had 0 dealer withdrawal:


total dealer withdrawal: nil oz.


We had 3 customer withdrawals:
i) Out of Brinks: 494,200.66 oz
ii) Out of CNT: 10,157.300 oz
iii) Out of Scotia: 15,433.900 oz.
Total customer withdrawals 519,791.860 oz.


We had 1 customer deposit:


i) Into Scotia: 140,752.35 oz.
Total customer deposits: 140, 752.35 oz.




We had 1 adjustment:


i) Out to the Delaware vault:


225,498.812 oz was adjusted out of the customer and this landed in the dealer account at Delaware.


Total dealer inventory: 66.209 million oz
Total of all silver inventory (dealer and customer) = 183.102 million oz.















In Gold Inventory:






Quote:







We had zero dealer transactions today
Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 1 customer withdrawal:
i) Out of Manfra: 96.45 oz or 3 kilobars
Total customer withdrawals: 96.45 oz (3 kilobars)




We had 1 customer deposit:
i) Into Scotia: 37,565.43 oz
Total customer deposit: 37,565.43 oz




We had 0 adjustment:
Total Dealer inventory: 945,488.206 oz 29.408 tonnes
Total gold inventory (dealer and customer) = 9.184 million oz. (285.76) tonnes)
A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 17 tonnes have been transferred out. We will be watching this closely!
Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.















Delivery Notices










In silver:






Quote:



The CME reported that we had 114 notices filed for 570,000 oz today.













In gold:






Quote:



Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices were stopped by JPMorgan customer account.










We had 0 notices served upon our longs for 700 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 477 x 5,000 oz per contract or 2,385,000 ounces upon which I add the difference between the open interest for the front month of October (337) - the number of notices served upon today (114) x 5000 oz per contract










Thus Oct. standings for silver: 477 notices x 5,000 oz per notice or 2,385,000 oz + (337) - (114) x 5,000 oz = 3,500,000 oz


We gained an additional 625,000 silver ounces that will stand for silver at the Comex for the October delivery month.


This level will continue to rise as the month progresses.






It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.




These look like paper deposits/withdrawals where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.

















In gold:






Quote:



In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 483 x 100 oz = 48,300 oz,to which I add the difference between the open interest for the front month of October (1318) minus the number of notices served upon today (0) x 100 oz = 180,100 oz or 5.60 tonnes.


We lost 26,700 oz of gold standing tonight.


Thus: October standings:483 contracts x 100 oz = 48,300 oz + (1318) - (0) x 100 = 180,100 oz or 5.60 tonnes).



















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 991.00, down 2.36%. WTI November crude was 87.74 down 0.75. Brent crude was 91.38 down 0.73. The spread between Brent and WTI was 3.64 up 0.02. The 30 year US Treasury bond was up 0.0000 at 3.0600. The 10 year T-Note was down 0.0200 at 2.3300. The dollar was down 0.34 at 85.32. The PPT/Dow was 16994.22 up 274.83. Silver closed at 17.38 up 0.19. The GSR was 70.2819 down 0.0090 oz of silver per oz of gold. CIA's Facebook was 77.52 up 1.23 (1.61%). December wheat was up 1.50 at 507.750. December corn was up 2.75 at 343.25. December lean hogs were up 0.825 at 95.175. November feeder cattle were up 0.500 at 242.925. December copper was down 0.036 at 3.004. November natural gas was down 0.102 at 3.855. December coal was down 0.10 at 53.00.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Thu, Oct 9, 2014 - 11:15pm
DayStar
Offline
Joined: Jun 14, 2011
2586
14106

~~Harvey 9 Oct 2014

This is DayStar (DS) with the Thursday Harvey Report.










News and Commentary






Mark O'Byrne (Goldcore): World stock markets roared their approval of reassurances that the U.S. Federal Reserve will not raise interest rates any time soon. Capital came flooding back into almost every asset class and the dollar fell sharply. Gold jumped over 1% to $1,224.30 - at a two-week high, while silver surged 2% on the Fed minutes. Market participants have interpreted the tone of the FOMC minutes as suggesting that U.S. interest rates could remain lower for longer than most expected, causing the dollar to weaken. Observers had been worried that the minutes from Chair Janet Yellen's Fed could lead to market volatility and further sharp stock market falls. ‘Helicopter Janet’ is confirming the belief of some market participants that she will continue the ultra loose monetary policies of her predecessor ‘Helicopter Ben’ and of course Alan Greenspan before them. Bond yields throughout the world, which have plunged during years of cheap funding from the Fed and the world's other major central banks, hit new record lows. Currency debasement continues in the U.S. and with other central banks - banks, and indeed markets appear hooked on the cocaine of ultra loose monetary policies and cheap money. A rise in U.S. interest rates will be bearish for stocks, bonds, property and the already struggling U.S economy. Stocks already appear overvalued and ripe for a serious correction. The U.S. recovery is exaggerated and the health of U.S. consumers and the fundamentals of the U.S. economy remain weak. An economy that has over 55 million or nearly 20% of the population on food stamps is by its nature very weak and vulnerable.










Chris Powell (GATA): Interviewed this week by Bloomberg News TV, fund manager and geopolitical analyst James G. Rickards contends that interest rates are unlikely ever to be raised again in his lifetime. He says that as the composition of the Board of Governors of the Federal Reserve System changes in January and becomes more supportive of easy money and as the U.S. economy remains so weak, the Fed is likely to launch another round of "quantitative easing" next year. When the interview turns to gold, one of the Bloomberg anchors remarks in passing that "some would say" central banks "manipulate" it -- though of course, since he is a financial journalist, he can't be expected to do any research as to whether there's any truth in what "some say." Rickards notes the "enormous" demand for gold from China and says "the gold available to support the paper market is shrinking."














Harvey: GLD :as of 6 pm est no change in tonnage of gold at the GLD (inventory now at 762.08 tonnes). SLV: As of 6 pm tonight we have no changes in inventory (inventory is now 349.071 million oz). We have other stories including the continuing crisis with Ebola. The USA's first Ebola patient has died. GOFO is positive but decreasing.










Ron Paul: On Nov. 30, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20% of the SNB's assets. Arising from popular sentiment similar to movements in the United States, Germany, and the Netherlands, this referendum is an attempt to bring more oversight and accountability to the SNB, Switzerland's central bank. The Swiss referendum is driven by an undercurrent of dissatisfaction with the conduct not only of Swiss monetary policy, but also of Swiss banking policy. Switzerland may be a small nation, but it is a nation proud of its independence and its history of standing up to tyranny. The famous legend of William Tell embodies the essence of the Swiss national character. But no tyrannical regime in history has bullied Switzerland as much as the United States government has in recent years. The reality is that Swiss bank secrecy is dead...The Swiss tradition of bank secrecy is legendary. The reality, however, is that Swiss bank secrecy is dead. Countries such as the United States have been unwilling to keep government spending in check, but they are running out of ways to fund that spending. Further taxation of their populations is politically difficult, massive issuance of government debt has saturated bond markets, and so the easy target is smaller countries such as Switzerland which have gained the reputation of being "tax havens."








Peter Cooper (Arabian Money): Switzerland is holding a referendum on gold on November 30th that could transform the outlook for gold prices. If it passes it will mandate the central bank to hold a minimum of 20 per cent of foreign reserves in gold against 7.7 per cent today, stop its gold sales and repatriate all Swiss-owned gold. Pegging the Swiss franc to the euro has come at a high price in terms of house price inflation and there is a national concern about runaway monetary policy taking hold. Switzerland has always been one of the most conservative nations in Europe as well as the richest. However, its central bank sold off 60 per cent of Swiss gold reserves in the 2000s. In order to beef up its gold reserves to 20 per cent of foreign exchange reserves experts say Switzerland would need to buy 500 tonnes per annum for the next three years. The impact of central bank buying on that scale would have a marked effect on the price of the yellow metal. Who would be be next? Some other central banks from small, rich countries? The UAE as the Switzerland of the Middle East perhaps? Would every billionaire on earth want his or her own private stash? Often it takes such a landmark event to get markets moving and the gold price has been so manipulated down by central bank collusion that it would not really be such a surprise if it took one of them being forced to break ranks to really get the price heading to the moon.




Dave Kranzler (IRD): GLD is being looted to make deliveries into China and India. It's not a secret that Indian and Chinese imports accelerated during September. GLD has been stripped of 32 tonnes of gold since Labor Day weekend. Currently, after close to 6 tonnes were removed yesterday, GLD is reporting (note: "reporting" - this is not an independently validated number) 762 tonnes. The last time the tonnage was this low was December 12, 2008, when gold was $826. Gold does not get removed from GLD based on price movement or share selling. It is ONLY removed when the Approved Participant bullion banks - and the ONLY the bullion banks - amass enough shares either from sellers or from borrowing shares and turning those shares in for an equivalent value of gold. I strongly believe that gold is being used to deliver physical bars into China/India under LBMA forward obligations.




Dave Kranzler (IRD): In less than 3 weeks after the S&P downgrade, after gold’s initial spike to $1900, the Government’s renewed war on gold began. The reason for this is that, in the face of trillions being printed by the Fed and trillion dollar deficits being incurred by the Government, gold was about to take out $2,000. This was a milestone that would have likely triggered a flood of capital into both physical gold in this country and into the futures. A move like this would have destroyed the credibility of the U.S. dollar as the world’s reserve currency. It further would reflect the actual truth regarding the collapsing economic/financial condition of the United States. To keep this from turning into an event that would hinder Wall Street and the Government elitists from completely looting the wealth from our system, they had to implement a massive program of market intervention in order to take down the price of gold and eliminate the signal it was sending to the world that the U.S. is in a state of slow collapse. As a testament to the war on gold and on any person or entity trying to expose the truth, S&P’s President was forced out of office just two weeks after the ratings downgrade: LINK. In October, Egan Jones was notified by the SEC that it was looking into some supposed false information given by Egan Jones in connection with the rating agency’s regulatory application which would enable the firm to issue ratings on sovereign debt. See the connection here? The SEC didn’t seem to have a problem with EJ’s filing until EJ started downgrading the U.S. Government’s debt rating. Undeterred, Egan Jones further downgraded the U.S. rating from AA+ to AA on April 5, 2012. On April 24, 2012, the SEC formally filed charges against Egan Jones. These are charges, mind you, that were based on immaterial cause of action and probably could have been enforced against both Moodys and S&P. In a final “middle finger” move, Egan Jones further downgraded the U.S. debt rating to AA- on September 14, 2012. On January 22, 2013, Egan Jones was barred from rating U.S. debt for 18 months. For point of reference and a testament to its ratings acumen and skill, Egan Jones was the first rating agency to downgrade Enron’s debt before Enron spiraled into a bankruptcy engulfed with fraud and corruption. Moody’s, of course, did not downgrade Enron until it actually hit the wall. It may not seem like it right now, but your only defense against the poisonous cesspool swirling beneath the carefully crafted facade of lies and disinformation – short of just leaving the country – is to move as much of you liquid wealth as you can into physical gold and silver. Because when the U.S. Government’s war on gold is finally forced into capitulation, the collapse of our system will be unlike the collapse of any other superpower power nation in history.






Zero Hedge: So much for "the recovery" (in the US or elsewhere) and a mythical world in which a seamless handover from the Fed to the economy can ever take place. As Deutsche Bank correctly summarizes, markets were left scratching their heads last night as to whether the FOMC minutes released were actually from the right meeting. They were certainly more dovish than that implied by the increases in the dots 3 weeks ago and the associated statement. If there is anyone who goes postal in the Marriner Eccles building it will probably be a Fed Fund Futures/Eurodollar trader: "after the FOMC back on September 16th the market re-priced Fed interest rates notably higher with Dec 2016 Fed Funds futures moving from 1.67% to 1.82%. However reading the minutes last night it’s clear that some members see risks more on the downside than they let on at the time. Indeed on the committee a number of participants said growth “might be slower than they expected if foreign economic growth came in weaker than anticipated,” and that "Some participants expressed concern that the persistent shortfall of economic growth and inflation in the euro area could lead to a further appreciation of the dollar and have adverse effects on the U.S. external sector." This sounds like a committee that will clearly raise rates as they expect if everything is ok in the world but won't if events turn out more negatively. The same Dec 16 Fed Fund Futures contract is now at 1.575% and has fallen fast in recent days." DB's Jim Reid concludes it correctly, if tongue in cheek - the Fed has NO IDEA what it is doing anymore, or what will happen next month, let alone next summer.




Tyler Durden: Despite all the 'promises', all the 'whatever it takes', all the jawboning... actions and words appear unable to shift the world away from its disinflationary spiral that Central Bankers are so afraid of... US forward inflation expectations have cratered in recent weeks (to levels that in the past have triggered money-printing largesse) but it is European forward inflation expectations that have collapsed to record lows leaving Draghi caught between a deflationary rock and a Bundesbank-bating, Treaty-busting sovereign QE hard place that he knows deep-down-inside (given the cleasr evidence from the US and The Fed) simply does not work how it is supposed to (in the textbooks). As Deutsche Bank warned, "QE in Europe will be ineffective, but it will happen anyway - it is the only tool the ECB has to protect its mandate."




Zero Hedge: Despite the still confident exclamations from officials that the Ebola pandemic is 'contained', more and more nations are admitting to Ebola-symptomatic cases or bringing infected patients back from Africa for treatment. Australia has its first potential case of the deadly disease, as Bloomberg reports a nurse who returned from volunteering in Africa has developed Ebola-like symptoms. Despite claims that Nigeria's outbreak is over, a Turkish worker there has been hospitalized in Istanbul after signs of high fever and diarrhea. Health officials from Germany confirm a 3rd Ebola patient has arrived in the country - having contracted the disease in Liberia. And finally, just as in the sad case of Thomas Duncan in Dallas, The Guardian reports the infected Spanish nurse went untreated and unquarantined for a week despite reporting symptoms at least three timesto hospital officials. It seems the world is ill-prepared for this...Bloomberg reports, a nurse who treated Ebola patients with the Red Cross in Sierra Leone was hospitalized in Australia after developing a low-grade fever, health officials said. She is being tested for the deadly virus. And finally, with regard the infected Spanish nurse in Madrid (as The Guardian explains), had told health authorities at least three times that she had a fever before she was placed in quarantine. Her first contact with health authorities was on 30 September when she complained of a slight fever and fatigue. Romero Ramos called a specialised service dedicated to occupational risk at the Carlos III hospital where she worked and had treated an Ebola patient, said Antonio Alemany from the regional government of Madrid. But as the nurse’s fever had not reached 38.6C, she was advised to visit her local clinic where she was reportedly prescribed paracetamol. Days later, according to El País newspaper, Romero Ramos called the hospital again to complain about her fever. No action was taken. On Monday, she called the Carlos III hospital again, this time saying she felt terrible. Rather than transport her to the hospital that had treated the two missionaries who had been repatriated with Ebola, Romero Ramos was instructed to call emergency services and head to the hospital closest to her home. She was transported to the Alcorcón hospital by paramedics who were not wearing protective gear, El País reported. On arrival at the hospital, Romero Ramos warned staff that she feared she had contracted Ebola. Despite the warning, she remained in a bed in the emergency room while she waited for her test results. She was separated from other patients only by curtains, hospital staff said on Tuesday.The worst outbreak of the deadly Ebola virus in history is threatening to spread out of West Africa and affect countries further afield. The first case was reported in Guinea on March 22.




Zero Hedge: Yesterday's panic buying vertical ramp in stocks - decoupling from everything but the trusty partners VIX and AUDJPY - has been entirely unwound as The Dow drops over 300 points (nearly unchanged for 2014), Trannies tumble and Small Caps slump. Stocks all closed significantly lower - despite a late-day effort to lift - ending the day down from pre-FOMC Minutes. Treasuries closed 0-2bps higher in yield but had ignored equity exuberance and provided the reality check by the close. Real trading volatility ranges are surging in the major indices which historically has not been a good sign. The USD retarced some of the FOMC losses as Draghi chatter pushed EUR higher. Oil prices cratered under $85 as gold and silver rose (despite USD strength).Following yesterday's biggest intrday swing since Nov 2011, the Russell 2000 saw its worst day in 6 months.






This Will Not End Well (In The Short Term)














RT on Ebola: Thursday, October 9, 21:08 GMT: The Czech Republic has hospitalized a man with a fever as its first suspected case of Ebola inside the country, the Czech-based CTK News reported. The only symptom exhibited by the man so far is a fever, but since he returned from Liberia 22 days ago he is being monitored as a preventative measure. "As the only symptom has been fever so far, we hope that it might be another disease, for instance, malaria," chief sanitary officer Vladimír Valenta told ČTK. "At present all people whom he has met since he returned home are being searched for.” 20:53 GMT: Thomas Eric Duncan, the first Ebola patient to die in the US, will be cremated in order to ensure the risk of exposure to the virus is minimal for those preparing his body and attending a funeral. “The remains have been transported for cremation. No additional detail about timing or location will be given at this time,” Christine Mann, a spokeswoman for the Texas Department of State Health Services, said to NBC News. Cremation – as well as the use of a hermetically sealed casket – are the two ways the Centers for Disease Control and Prevention recommend handling deceased victims of the virus. 20:22 GMT: The Dallas County sheriff’s deputy suspected of becoming the second case of Ebola in the United States does not have the virus, Texas health officials said on Thursday. The deputy, Michael Monnig, had originally reported being inside of the apartment of now-deceased Thomas Eric Duncan – the first Ebola patient to be diagnosed in the US – and had contact with Duncan’s family. He did not have contact with Duncan directly. Officials at the Texas Department of State Health Services added that Duncan’s relatives have not displayed Ebola synptoms. 16:54 GMT: A British man who was suspected of contracting Ebola has died in Macedonia, Reuters reports citing a senior Macedonian official. The official added that a second British national had shown symptoms of the deadly virus. 11:57 GMT The condition of Teresa Romero - the Spanish nurse with Ebola - has deteriorated, Reuters reports citing a hospital official. "Her clinical situation has deteriorated but I can't give any more information due to the express wishes of the patient," said Yolanda Fuentes, an official at the Carlos III hospital. The official did not provide further details.








Zero Hedge: It's different this time... and not in a good way. Real intraday range volatility over the last 2 weeks is breaking out - at its highest in 3 years...That has not boded well in the past.










Tyler Durden: The student loan debt bubble in America is spiraling out of control, and it is financially crippling an entire generation of young Americans. At this point, the grand total of student loan debt in the United States has reached a staggering 1.2 trillion dollars, and an all-time record high 40 million Americans are currently paying off student loan debts. Just when our young people should be planning on buying homes and starting families, they find themselves financially paralyzed by oppressive levels of debt. What makes all of this even worse is that only some of our college graduates are able to get the “good jobs” that we promised them. So with limited job prospects and suffocating levels of debt, this generation of young Americans is increasingly putting off major life commitments such as buying a home and getting married. As a society, we really need to rethink how we are “educating” our young people, because what we are doing now is clearly not working. DS: Probably 80% of those taking out student loans also do not know that student loans are NOT dischargeable in a bankruptcy. The loans will follow them to their grave and take their estate, if any, and probably pass on to their heirs!










Susan Duclos (B4IN): As has been widely reported, the US has not banned flights from Ebola infected countries like Sierra Leone, Guinea or Liberia, where Ebola has killed thousands, and as evidenced by Mr. Duncan’s arrival in the US carrying the deadly virus, airport screenings are not effective, especially if the Ebloa infected victim is not symptomatic. This makes the refusal to restrict travel from those countries irresponsible at best, incompetent at worst, and pours fuel on the fire of accusations and theories that the Ebola spread throughout the globe is intentional and part of an agenda.




Melissa Melton (TheDailySheeple): Has the endgame been revealed on the Ebola outbreak? Two days ago, Dr. Anthony Fauci, director of the U.S. National Institute for Allergy and Infectious Diseases, told The Canadian Press that it’s “quite conceivable, if not likely” that fast-tracked Ebola vaccines may have to given to entire countries to get the viral outbreak under control (via Modern Healthcare): “It is conceivable that this epidemic will not turn around even if we pour resources into it. It may just keep going and going and it might require a vaccine.” “As the epidemic gets more and more formidable and in some cases out of control it is quite conceivable, if not likely, that we may need to deploy the vaccine to the entire country to be able to shut the epidemic down. That is clearly a possibility.” [emphasis added] The article did not specify which country in particular Dr. Fauci — whose institute just so happens to be currently working on an experimental Ebola vaccine (the first to begin human clinical trials) with Big Pharma giant GlaxoSmithKline — was referring to. Was he talking specifically about Sierra Leone? Liberia? Guinea? Any place where Ebola has taken hold? The entire continent of Africa? Other countries, should it break out there including Spain or America? - See more at: https://www.thedailysheeple.com/nih-we-may-have-to-vaccinate-whole-count...






1 Kings 8:37 If there be in the land famine, if there be pestilence, blasting, mildew, locust, or if there be caterpiller; if their enemy besiege them in the land of their cities; whatsoever plague, whatsoever sickness there be;
38 What prayer and supplication soever be made by any man, or by all thy people Israel, which shall know every man the plague of his own heart, and spread forth his hands toward this house:
39 Then hear thou in heaven thy dwelling place, and forgive, and do, and give to every man according to his ways, whose heart thou knowest; (for thou, even thou only, knowest the hearts of all the children of men
40 That they may fear thee all the days that they live in the land which thou gavest unto our fathers.




















****************










Harvey's comments on Thursday price action (basis 1:30 PM EST)










Quote:



Gold closed up $19.30 at $1224.60 (Comex to Comex closing time).


Silver was dup 35 cents at $17.37.






In the access market tonight at 5:15 PM:


Gold: $1224.50


Silver: $17.37













Wednesday, Oct 8th Gold and Silver Action (basis 1:30 PM EST)


https://harveyorgan.blogspot.com/2014/10/oct-9-no-change-in-gold-invento...














Total, Oct (Gold), Nov (Silver), Dec (Gold, Silver) Open Interest










In silver:






Quote:



The total silver Comex OI fell by a tiny 690 contracts with silver down yesterday to the tune of 18 cents. With the resultant action of silver, our banker friends are not happy campers today. Tonight the silver OI complex rests at 170,593 contracts. In ounces, this represents 852 million oz or 121.70% of silver annual production. In commodity law generally the OI is represented by 3 to 5% of annual production. These silver contracts are in very strong hands and as I have indicated to you on countless occasions, this will continue to bring nightmares to our bankers. Probably this is as good a reason as ever for the bankers to raid on a continual basis trying to force those longs to puke their interests.No doubt that the open interest for tomorrow will be quite high.




We are in the non active silver contract of October and here the OI fell by 113 contracts down to 224 contracts. We had 114 notices served upon yesterday so we gained 1 silver contracts or an additional 5,000 ounces will stand for delivery in October. November is also a non active delivery month and here the OI went up by 2 contracts to 123.




The December silver contract is a biggy contract month and tonight it rests at 120,450 contracts for a loss of 846 contracts. No doubt the December contract month may provide all the fireworks if our major entity tries to take delivery of much of the Comex silver. In ounces, the December contract equates to 602 million oz or 86.0% of annual global production.













In Gold:






Quote:



The total gold Comex open interest surprisingly rose today by a huge margin of 6062 contracts from 380,087 up to 386,149 with gold down by $6.40 yesterday. Remember that gold did not start to move higher until 2 pm, one half hour after the Comex closed. We are now in the active delivery month of October and generally this is a very poor month for deliveries. The October contract month fell by 3 contracts down to 1315. We had 0 notices filed yesterday so we lost 3 contracts or 300 oz that will not stand for the October contract month. The November contract month saw its OI rise by 14 contracts up to 328. The December contract rose by 3919 contracts up to 279,467.













Volume










In Silver:






Quote:



The estimated volume today was excellent at 49,179. The confirmed volume yesterday was also excellent at 50,081 contracts. Both Bill Holter and I strongly believe that only one entity could possibly behind the majority of these longs and that entity is the sovereign Chinese government.













In gold:










Quote:



The estimated volume today was fair at 156,078 contracts. The confirmed volume yesterday was good at 204,159.






















Inventory Numbers










In Silver Inventory:






Quote:



Today, we had 0 deposits into the dealer account:


Total dealer deposit: nil oz.




We had 0 dealer withdrawal:


total dealer withdrawal: nil oz.


We had 1 customer withdrawal:


i) Out of Delaware: 4987.600 oz.
Total customer withdrawals 4987.600 oz.


We had 1 customer deposit:


i) Into Scotia: 207,500.68 oz.
Total customer deposits: 207,500.68 oz.




We had 2 adjustment:


i) Out to the Delaware vault:


121,738.884 oz was adjusted out of the customer and this landed in the dealer account at Delaware.


ii) Out of the CNT vault:


202,053.58 oz was adjusted out of the customer and this landed in the dealer account at CNT


Total dealer inventory: 66.532 million oz
Total of all silver inventory (dealer and customer) = 183.304 million oz.















In Gold Inventory:






Quote:







We had zero dealer transactions today
Total dealer withdrawal: nil oz
Total dealer deposit: nil oz




We had 2 customer withdrawals:
i) Out of Manfra: 64.30 oz or 2 kilobars
ii) and this is a strange one: 96,750.0000 oz
and this is not kilobars as the number is not exactly divisible by 32.15.
Total customer withdrawals: 96,814.300 oz.




We had 1 customer deposit:
i) Into Scotia: 4,179.500 oz
Total customer deposit: 4,179.500 oz




We had 0 adjustment:
Total Dealer inventory: 945,488.206 oz 29.408 tonnes
Total gold inventory (dealer and customer) = 9.091 million oz. (282.79) tonnes)
A few weeks ago we had total gold inventory of 303 tonnes, so during this short time period 20 tonnes have been transferred out. We will be watching this closely!
Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from JPMorgan's client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices stopped by JPMorgan customer account.















Delivery Notices










In silver:






Quote:



The CME reported that we had 51 notices filed for 255,000 oz today.













In gold:






Quote:



Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contracts of which 0 notices were stopped (received) by JPMorgan dealer and 0 notices were stopped by JPMorgan customer account.










We had 7 notices served upon our longs for 700 oz of gold.

















Contracts Left To Be Delivered + Month-To-Date Summary










In silver:






For those that are interested in the alleged bullion in the vaults of Comex by date, you can see it here:


https://www.investmenttools.com/futures/metals/Base_Metals_Inventory_Lon...






In silver:






Quote:



To calculate what will stand for this active delivery month of October, I take the number of contracts served for the entire month at 528 x 5,000 oz per contract or 2,640,000 ounces upon which I add the difference between the open interest for the front month of October (224) - the number of notices served upon today (51) x 5000 oz per contract










Thus Oct. standings for silver: 528 notices x 5,000 oz per notice or 2,640,000 oz + (224) - (51) x 5,000 oz = 3,505,000 oz


we gained an additional 5,000 silver ounces that will stand for silver at the Comex for the October delivery month.


This level will continue to rise as the month progresses.






It looks like China is still in a holding pattern ready to pounce when needed.
The open interest on silver is still highly elevated. Gold has a low OI with a low gold price. Silver has a high OI with a low silver price. Something has got to give!!


As far as the silver inventory, it looks compromised as well. Shanghai is in complete silver backwardation and yet Comex seems to import huge amounts of silver. Note that every day we say either 500'000 or low 600,000 entry as a deposit or withdrawal. The odds of this happening 3 out of 5 days on the Comex on a continual basis is suspect.


These look like paper deposits/withdrawals where no real metal enters or leaves. Only when silver metal leaves an official vault does real metal leave.

















In gold:






Quote:



In order to calculate what will be standing for delivery in October, I take the number of contracts served so far this month at 483 x 100 oz = 48,300 oz,to which I add the difference between the open interest for the front month of October (1315) minus the number of notices served upon today (0) x 100 oz = 179,800 oz or 5.595 tonnes.


We lost 300 oz of gold standing tonight.


Thus: October standings:483 contracts x 100 oz = 48,300 oz + (1315) - (0)x 100 = 179,800 oz or 5.595 tonnes).



















Select Commodity Prices










The Bloomberg Baltic Dry Index (BDI) was 974.00, down 1.72%. WTI November crude was 84.68 down 3.06. Brent crude was 88.95 down 2.43. The spread between Brent and WTI was 4.27 up 0.63. The 30 year US Treasury bond was up 0.0000 at 3.0600. The 10 year T-Note was up 0.0000 at 2.3300. The dollar was up 0.17 at 85.49. The PPT/Dow was 16659.25 down 334.97. Silver closed at 17.35 down 0.03. The GSR was 70.5245 up 0.2426 oz of silver per oz of gold. CIA's Facebook was 75.91 down 1.61 (2.08%). December wheat was down 14.50 at 493.250. December corn was up 1.50 at 344.75. December lean hogs were up 0.450 at 95.625. November feeder cattle were down 1.400 at 241.525. December copper was up 0.026 at 3.030. November natural gas was down 0.010 at 3.845. December coal was down 0.30 at 52.70.










Thank you for reading the Harvey Report!










There is much more on Harvey's blog https://harveyorgan.blogspot.com.










Goooood day!










**************
Fri, Oct 10, 2014 - 8:37pm
DayStar
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Harvey's Not Up!

Harvey's blog has been completely removed from Blogspot. Apparently Harvey made enemies in high places.

https://harveyorgan.blogspot.com/

Blog has been removed.

  • Possible reason: It's possible that your blog was found to violate Blogger’s policies or our Terms of Service.
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DayStar

Sat, Oct 11, 2014 - 7:52am
heyJoe
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For Harvey Fans

Just relistened to a SilverDoctors Podcast from 9/29 where Harvey was a guest. Harvey made some interesting points. Might want to give it a listen and think how it might explain Harvey's current issues. If he hit TPTB nerve, may be time to prepare sooner than later. (I would post a link but my old ipad is screwed us since my latest update.)

Sat, Oct 11, 2014 - 5:59pm
Mr. Fix
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The link to Harvey's conversation on Silver Doctors:

"When the student is ready, the teacher will appear."
Sat, Oct 11, 2014 - 10:32pm
DayStar
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RE: Hit a Nerve

Harvey has officially called for gold and silver to take off before the end of the year. He and Bill Holter believe the Chinese have been buying the long positions on Comex to get back the silver they leased to the NY crooks 10 years ago. Apparently, the NY crooks defaulted on the lease, and didn't pay back the silver. Now the Chicoms intend to take it out of Comex's hide and make them put up or shut up, probably the latter. At least, that's Harvey's theory, and he may indeed have hit a nerve. Jim Willie is saying the Chicoms intend to double or triple the price of gold in Shanghai and buy all gold that is offered at that price. That will bring some physical metal to the Chicoms, which they will be happy to buy (they are already subsidizing Chinese gold mines and buying their production at well above the Comex price per oz, e.g $2000/oz), but it will show Comex and NY for the frauds that they are, because they will be unable to supply the physical metal they claim to have and arbitrage their gold and silver at double to triple the Comex price. I think all hail is going to break loose after the November elections. The elites are not happy with O and they may well put in a Republican Senate so they can impeach him (remember the Illuminati card "Sucked Dry and Cast Aside"?). That would likely make for a very unpleasant few months (Nov-Jan) before the new congress was seated while O went crazy trying to cover his buns. I think Bill Holter is saying that no physical gold has been delivered on Comex for two years anyway. It's all been paper and fiat transactions.

FWIW,

DayStar

Sat, Oct 11, 2014 - 10:53pm
Mr. Fix
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A failure to deliver:

So, Harvey says there will be “a failure to deliver” and Bill says there have been no deliveries for two years.

Doesn't anybody actually know anyone who has actually stood for delivery in the past two years?

Personally, I think it's been a paper pushing contest for years, no physical involved.

if China actually triples their price, it will bring an end to the current system quickly.

Of course, there will be lots of consequences.

"When the student is ready, the teacher will appear."
Sun, Oct 12, 2014 - 9:27pm
DayStar
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RE: Failure to deliver

I have been writing on Comex nearly daily for five years. I have never known a single person who claimed in an article that they they had taken physical delivery from Comex since I started writing Harvey. I have read articles of a couple that tried to take delivery and were stonewalled and apparently paid off in fiat, but I have never read of one single person that actually was successful in taking delivery from Comex.

DayStar