Bill’s commentary:
“Jeremiah checks in with COMEX open interest numbers”
Great and Wonderful Monday Morning Folks,
Something is happening behind the Comex Silver Futures pricing that I think may mean a change in direction. The Open Interest in Silver is now lower than at any other time I’ve been watching/writing.
My old low in Ag OI was 134,269 contracts (when Jim’s site was the place to go), which stayed for years. In the last month (June) I watched a new low come in at 133,698 (6/1). From that time up to the 14th, the OI climbed to 154,214.
The odd thing here is this was early. The OI usually reaches its high around the options expiration day (June 27th). The OI count this expiration time dropped to 134,151, a 20,063 contract reduction since the 14th, and has been continuing its drop up to today, July 3rd at 114,271, a 39,943 contract pullback since mid-June.
Quadruple Witch Week happened on the third Thursday in June, the day after the OI high was hit. I’ve always watched the numbers behind the price, Volume’s and Open Interest show the pumping and dumping of contracts during June with some days showing far more Volume than OI (like in all of 2019). It may be because of Newmont’s Silver Mine shutting down (6/7) with very little data coming out anywhere, at least since June 16th.
Regardless, it appears to me, someone is preparing by getting out of the way via their hedge positions at the Comex. Is this the last low price wrung in Comex Silver?
Even if you hate it, politics now rues the day. Look everywhere! The EU is falling apart. Each nations homies, have been forced to accept people from other nations without vetting. The French people have been kept from responding (by their own government) to the abuses as well as open attacks. Now a burning car hit the home of the mayor of the Paris suburb of l’Hay-les-Roses with rumors that his wife and kids were inside that building. Attempted murder?
What’s Macron to do since he’s pissed off the people of France, with the immigrants Macron let in, now rioting? What will the EU do since they are the ones that insisted unvetted immigration was good for all nations?
Here in the USA, we got a resident in the White House who has been caught serving other nations, with 3 separate investigations proving Hunter and father took millions in payment, from the likes of China and Ukraine. And the same group keeping Joey safe is attacking all candidates, both Dem and Rep, at the same time ignoring our border issue. How will we react when the time comes?
In the recent past, Silver’s price and volatility was controlled by CFTC’s Rostin Behnam during the “Silver Squeeze”. Chairman Benham, I look forward to your conversation in front of a Congressional Hearing on how you thought it was ok to steal value from American citizens in order to tamp. Isn’t your job to make sure things like this doesn’t happen.
How does all this NOT effect precious metals prices? Consider all this and know the manipulations, one day will end, with prices of precious metals reaching heights never imagined. Be long Silver and Gold Calls, hold your stock shares under DRS, and keep your retirement savings in precious metals.
As Always …
Stay Strong!
Jeremiah Johnson
Bill’s commentary:
“This is like stepping on the gas and the brake at the same time?”
Treasury Secretary Janet Yellen will be the next top Biden admin official to try and calm spiraling relations with China, as the Treasury Department confirmed Sunday she’ll travel to Beijing this week, Thursday through Sunday, for meetings with senior officials, in what will mark the first trip of her tenure.
Bill’s commentary:
“Well thought out by Ray Dalio.”
I’m a global macro investor who has been betting on what’s going to happen for over 50 years. I’ve been through all sorts of events and cycles in all sorts of places over a long time which led me to study how these events and cycles work. In the process, I learned that I needed to study history to understand what’s going on and what’s likely to happen.
Bill’s commentary:
“I thought this is what “chemtrails” were for? Besides, if this actually works, then “solar” power doesn’t?”
The White House has opened the door to an audacious plan to block sunlight from hitting the surface of the Earth in a bid to halt global warming.
Despite some scientists warning the effort could have untold side effects from altering the chemical makeup of the atmosphere, President Joe Biden‘s administration have admitted they’re open to the idea, which has never been attempted before.
Bill’s commentary:
“Nothing to see here, please move along …except the rest of the word sees it very clearly!”
Argentina made a loan repayment to the International Monetary Fund worth the equivalent of $2.7 billion “without using dollars” on Friday, using Chinese yuan and special-drawing rights notes (the IMF reserve asset based on a basket of five currencies – the yuan, the euro, the dollar, the yen, and the pound) instead.
Bill’s commentary:
“No one thought of this ahead of time?”
The Scottsbluff, Nebraska 5.2 MW Community Solar project was part of the NPPD’s Sunwise program that consisted of an array has over 14,000 solar panels. It’s reported that it had been put into operation in 2019.
Bill’s commentary:
“Can’t figure this one out either, similar to the huge rise in “unexpected deaths” since 2021?”
New York state is reeling from a COVID-era exodus to low-tax locales as revenue during this fiscal year is down nearly 20%, according to a report.
New York and California saw the steepest drops in tax-generated revenue this fiscal year while Florida and Texas saw their coffers fill up thanks to a pandemic-fueled migration.
BillHolter.com 