Silver’s Open Interest continues to climb the Walls of Worry
investing·@webbotreader·
0.000 HBDSilver’s Open Interest continues to climb the Walls of Worry
<html> <p>Happy First Day of February Folks, </p> <p><br></p> <p> Gold is trading in the positive with the price at $1,326.10, up 90 cents and right beside its high at $1,326.60 with the low at $1,316. Silver is giving “the signal” with the trade down 6.2 cents at $16.01 after opening near the high during the night session at $16.08 before it was pushed lower and then started to recover from its low at $15.925. The US Dollar is lower as well with the current value pegged at 95.225, down 7.9 points and beside the low of 95.195 with a high at 95.39, all this was done sometime way before 5 am pst and before the Comex open. Venezuela’s newest price for Gold now stands at 13,244.42 Bolivar shaving off 28.97 off of yesterday’s new world record price with Silver valued at 159.900 cutting back 1.099 in Bolivar value. </p> <p><br></p> <p> February Silver’s Delivery demands really came off quite a bit during yesterday’s trade with the count now at 175 obligations waiting for receipts and with zero Volume on the board so far this morning removing 235 contracts from the count. Silver’s Overall Open Interest continues to climb the Walls of Worry with the count now at 203,570 Overnighters adding some 3,846 contracts in order to keep Silver from going any higher than $16.20. It seems like someone is losing some “sell power” as more contracts are needed to control the upward momentum. </p> <p><br></p> <p> One of the warning bells we've given over the past decade, is still ringing loud clear, regarding one’s wealth being stored in a bank vault or any other facility besides one’s own possession, with that ringing bell getting louder and louder in a haunting sort of way as the <a href="https://www.zerohedge.com/news/2019-01-31/store-your-gold-bank-england-and-you-might-never-see-it-again-0">Bank of England once again, felt it can change the rules of storage anytime it wants</a>. We warned about The City’s past transgressions such as the event in 2011 when “<a href="https://www.bbc.com/news/uk-12248666">They seized the contents of 3,497 safety deposit boxes as part of Operation Rize and said they believed "a high percentage of the safety deposit boxes were being used by criminal networks to store the proceeds of crime</a>". I think there were only 3 criminals they had subpoenas for, yet almost 3,500 safety deposit boxes were looked into with many accusations of theft or missing possessions. We no longer wonder what “safety” really means to banks and their clients, we've learned from their examples. </p> <p><br></p> <p> If that wasn't enough to support the value of precious metals, the European Union is now claiming <a href="https://www.zerohedge.com/news/2019-01-31/cartel-back-eu-accuses-8-banks-rigging-government-bond-markets">8 (of its own regulated) Banks were Rigging European Government-Bond Markets</a>. Finally they say it. What we want you to understand here is this crime was just like the past cartel cases including Andrew Maguire’s bar room stories as well as<a href="https://www.zerohedge.com/news/2019-01-31/cartel-back-eu-accuses-8-banks-rigging-government-bond-markets"> traders at the accused banks allegedly using chat rooms to share "commercially sensitive information and coordinated trading strategies" that they presumably used to rig markets to benefit their own trading books - and shortchange their "counterparties".</a> We most likely won’t be seeing anymore “chat room” or “email” revelations exposing the crimes of manipulations anymore because the Algo systems have now been created to respond to words from officials that trigger the machines without the communications that make the exposures viewable. I am claiming a system has been created where there is no laws being broken because humans are no communicating, the machines are, and that is not illegal, yet. </p> <p><br></p> <p> France is now going into <a href="https://www.france24.com/en/20190201-french-court-refuses-ban-police-weapons-lbd-yellow-vest-injuries">its 3rd month of Anti-Macron Yellow Vest Protests as the French government tells it’s tax payers, they (government) can do whatever they want because they are the law</a> and the enforcers can make up whatever they want, when they want (until the guillotines comes out). The only thing these confidence building strategies are doing is exposing the reasons to have and own physical precious metals and to have it outside the trading systems of the world. </p> <p><br></p> <p> We hope many have taken steps to protect their purchasing power from the inevitable collapse in the primary fiats, as governments start to restrict the flow and velocity of money from one country to the next. It may be happening now at the upper levels of the banking system, but with no real media services doing anyone any good, we may not find out about anymore lock outs till way afterwards. So keep your metals close, have a great and wonderfully warm weekend, and as always … </p> <p><br></p> <p>Stay Strong! </p> <p>J. Johnson </p> </html>