Bill’s commentary:
“Here is your true Global New World Order…”
Last summer, the Group of 7 (G7), a self-anointed forum of nations that view themselves as the most influential economies in the world, gathered at Schloss Elmau, near Garmisch-Partenkirchen, Germany, to hold their annual meeting. Their focus was punishing Russia through additional sanctions, further arming of Ukraine and the containment of China.
At the same time, China hosted, through video conference, a gathering of the BRICS economic forum. Comprised of Brazil, Russia, India, China and South Africa, this collection of nations relegated to the status of so-called developing economies focused on strengthening economic bonds, international economic development and how to address what they collectively deemed the counter-productive policies of the G7.
Bill’s commentary:
“Our pal J. Johnson is back with commentary on the extreme low open interest numbers on COMEX.”
Great and Wonderful Saturday Morning Folks,
Yes, I’m still gaming Silver. My focus has been Comex Silver (as Jim Sinclair said Ag is “Gold on Steroids”). Silver now has a multi-year low in Comex Open Interest that was recorded on 3/24/23 at 118,082. As a reminder; OI is both holders of the long and the short futures contract willing to keep their positions overnight. YCharts has an Open Interest chart going back to 2018, when the OI was higher when the Volumes exceeded these OI counts (hit the Max button to see) on a daily basis and for years.
Today is the lowest count I know of since at least 2015 when we discovered that hundreds of millions of dollars were spent on Silver Call options going out to July/Sept/Dec-2019 (specifically), which failed to produce a profit (we’re still wondering what the buyers were preparing for?). This was something I have never seen before in the decades I’ve watched Silver, and still to today’s date, there has been no other far out Call Option purchases in Silver.
In 1980, options on Silver and Gold were not used at the Comex. Now they are an important factor, since one can buy a strike-price with time value, in a market that has been “tamped” with CFTC permission. Imo, this is a factor that will have a much deeper meaning as we move into the fear, uncertainty, and doubt, the bankers have set up.
A possible “for instance” of a change; Comex will raise the margins on the futures contract. They can do this at any time, and will most likely will do so after a huge price spike, in order to slow further price hikes. When that is done, the value of options will probably maintain some/most of that margin increase, while many may expect the Call prices to fall hard. So, be careful.
Algo’s also create spread trades inside the options board, and inter-commodity spreads that are all part of the system we play in. As we progress in price, you may notice newer options being offered inside the Comex options board.
For instance we start like this;
$25.50
$25.75
$26.00
Then the Algo’s start doing this;
$25.50
$25.60
$25.75
$25.85
$26.00
Then this;
$25.50
$25.55
$25.60
$25.65
$25.70
$25.75
Imo, this is how the Algos start to hedge against loss, and will actually start to profit as well. All the while the OI in Silver goes lowers, like these past few weeks.
The game is on, Comex is the focused price everyone is forced to use when they buy or sell physicals. Sure, physicals are the safest place to be, EVER! But Comex is where the leverage is (one contract equals 5,000 ounces, so are the options) and you can bank on the fact the bankers will be using Comex to profit all the way up and down, like before, but this time, with the addition of options. Enjoy the show, and as always …
Stay Strong!
Jeremiah Johnson
Bill’s commentary:
“Pastor Stanley reports on Dr. Sherri Tenpenny”
I recently had the pleasure and honor to speak with Dr. Sherri Tenpenny on her podcast ‘Happy Hour With Dr. T.’. While we were there to speak about disability, Encouraging Angels and a Bible Study on John 9:1-7 another ground breaking subject was brought up by Dr. Tenpenny.
In the broadcast, I was sharing how COVID-19 and the draconian policies that surrounded this event affected Encouraging Angels and our contract to deliver music services to the disabled was terminated because I refused to take the jab. I was given an ultimatum by the Special Needs institution to take the jab/submit to regular testing or its’ contract with Encouraging Angels to deliver music services would be terminated. I refused to do either and EA lost its contract of 15 years. I basically stated to Dr. T. that I was still alive and on ‘Happy Hour with Dr. T.’-I had made the right choice.
BillHolter.com 