The EU’s entire currency/debit/credit system is breaking apart
investing·@webbotreader·
0.000 HBDThe EU’s entire currency/debit/credit system is breaking apart
<html> <p> Great Friday Morning Folks, </p> <p><br></p> <p> April Gold is higher this morning with the trade at $1,294.10, up $8 with the high at $1,296.20 and a low at $1,285.60. Silver is following along with the May contract at $15.135, up 9.5 cents and right beside its high at $15.165 with the low at $15.015. The US Dollar got most of its support from the ECB after they claimed they needed to print more Euro’s with the Dollar now at 97.43, down 19.8 points with the high at 97.595 and the low at 97.37. All this of course is done way before 5 am pst and the Comex Open. </p> <p><br></p> <p> Venezuela’s fiat now has Gold priced at 12,924.82 regaining 86.89 Bolivar with Silver at 151.161, it too regaining .549 Bolivar overnight. <a href="https://www.zerohedge.com/news/2019-03-07/argentine-peso-plummets-record-low-inflation-soars">It appears that another emerging market currency is losing its monetary support mechanism as the Argentinian Peso</a> starts to falter and lose value. Of note, on April 30th 2018, Gold was priced at 27,011.29 in Argentinian Pesos, today it’s at 54,214.38 (doubled+ and a new world record). Our thesis regarding the issues within the emerging currency markets rising up to and taking over the major currencies now has another leg to stand on. As the emc’s start to wobble more and more, the majors should follow in short order depending on what is being devalued and the subsequent obligations within. </p> <p><br></p> <p> The March Silver delivery requests continue with the demands now at 535 requests for physical with a Volume of 3 up on the board so far this morning, proving a drop of 19 Obligations as we wait to see what additional amounts are needed in the days to come. Silver’s Overall Open Interest now stands at 192,136 obligations showing a loss of 646 Overnighters during yesterday’s activity. I also see another order for 30 Ag Contracts at 15.03 Bid, someone wants and needs physical.</p> <p><br></p> <p> The financial issues in Europe are many with the <a href="https://www.zerohedge.com/news/2019-03-07/brexit-ultimatums-fly-freely-betraying-bad-faith">Brexit Divorce being the most vocal</a> but there is another equally as disturbing story, but not as well supported by the main stream media, and that is the <a href="https://www.zerohedge.com/news/2019-03-07/default-or-exit-battle-between-italy-and-eu-inevitable">bankruptcy of Italy or the additional breakup of the EU</a> without any regards to the Brexit. The European Union’s entire currency/debit/credit system is breaking apart all the while the news services divide the stories up via nations and not the currency they live under. On top of these national issues, <a href="https://www.zerohedge.com/news/2019-03-08/deutsche-and-commerzbank-have-resumed-merger-talks">the Deutsche Bank story, with its admitted precious metals, currency, and bond manipulations, is still festering</a> as well and we still don’t have all the outcome of that story yet as we see a claimed merger may now be occurring. </p> <p><br></p> <p> These stories are only a small fraction of the subjects that support the holding of precious metals and to be out of the system. Each day we seem to be gathering more reasons to support the buying of physical precious metals as the central bankers only see more reasons to print in order to prove they are right and we are wrong. We'll see who wins again, so hang in there! Have a great weekend, keep those precious metals close, find a reason to smile no matter what is going on, and as always … </p> <p>Stay Strong! </p> <p>J. Johnson </p> </html>