NOV 1/SILVER IS THE STAR OF THE DAY:UP 2.8% OR 48 CENTS/A LONDON BASED COMPANY IS THE FIRST MAJOR TRADING COMPANY TO BE DINGED WITH ‘GHOST COLLATERAL’ COMING FROM CHINA/GOLD UP $6.60/AT THE COMEX…

GOLD: $1276.60 UP $6.60
Silver: $17.18 UP 48 cents
Closing access prices:
Gold $1275.00
silver: $17.13
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1283.60 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1269.60
PREMIUM FIRST FIX: $14.00(premiums getting larger)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
SECOND SHANGHAI GOLD FIX: $1297.34
NY GOLD PRICE AT THE EXACT SAME TIME: $1274.50
Premium of Shanghai 2nd fix/NY:$22.84 PREMIUMS GETTING LARGER)
CHINA REJECTS NEW YORK PRICING OF GOLD!!!!
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
LONDON FIRST GOLD FIX: 5:30 am est $1279.25
NY PRICING AT THE EXACT SAME TIME: $1279.00
LONDON SECOND GOLD FIX 10 AM: $1277.05
NY PRICING AT THE EXACT SAME TIME. 1273.30 ??
For comex gold:
NOVEMBER/
NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 186 NOTICE(S) FOR 18,600 OZ.
TOTAL NOTICES SO FAR: 709 FOR 70,900 OZ (2.205TONNES)
For silver:
NOVEMBER
140 NOTICE(S) FILED TODAY FOR
700,000 OZ/
Total number of notices filed so far this month: 567 for 2,835,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: $6517 bid /$6527 offer up $86.00 (MORNING)
BITCOIN CLOSING;$6581 BID:6601. OFFER UP $146.00
end
Today gold had a pretty good day rising by $6.60 but it was silver that was star of the show rising by 48 cents or 2.8%. This time around silver rose for no apparent reason. It is obvious that its huge 196,000 short comex contracts are having its effect on our bankers. As I have outlined to you for the past few months, the banks are desperate trying to cover but to no avail. They have en masse decided to run to higher ground where they will regroup and try again. If the silver price runs away from them like the Bitcoin price, our banker friends will implode.
Let us have a look at the data for today
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
In silver, the total open interest ROSE BY A LARGE SIZED 2419 contracts from 196 ,434 UP TO 198,853 DESPITE YESTERDAY’S TRADING IN WHICH SILVER FELL BY 13 CENTS. THE CROOKS ARE STILL HAVING AN AWFUL TIME TRYING TO COVER THEIR MASSIVE SILVER SHORTS SO THEY CONTINUE TO TORMENT.
RESULT: A GOOD SIZED RISE IN OI COMEX WITH THE 13 CENT PRICE LOSS. OUR BANKERS COULD NOT COVER ANY OF THEIR HUGE SHORTFALL.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.993 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT OCT MONTH/ THEY FILED: 140 NOTICE(S) FOR 700,000 OZ OF SILVER
In gold, the open interest SURPRISINGLY ROSE BY A CONSIDERABLE 2419 CONTRACTS DESPITE THE GOOD SIZED FALL IN PRICE OF GOLD ($6.15) . The new OI for the gold complex rests at 531,918.
NO EFP’S WERE ISSUED FOR THE UPCOMING NOVEMBER CONTRACT MONTH.
Result: A GOOD SIZED INCREASE IN OI DESPITE THE FALL IN PRICE IN GOLD ($6.15). THERE CERTAINLY WAS NO SHORT COVERING BY THE BANKERS WITH THE RAID YESTERDAY
we had: 186 notice(s) filed upon for 18,600 oz of gold.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
With respect to our two criminal funds, the GLD and the SLV:
GLD:
Strange! with gold up $6.60 today, we had a withdrawal of 1.18 tonnes of gold from inventory at the GLD/
Inventory rests tonight: 849.59 tonnes.
SLV
STRANGE: WITH SILVER DOING WELL THESE PAST THREE TRADING DAYS AND ESPECIALLY TODAY WITH A HUGE GAIN OF 48 CENTS, WE HAD NO DEPOSIT GAIN IN SILVER INVENTORY AT THE SLV:
INVENTORY RESTS AT 319.155 MILLION OZ

This post was published at Harvey Organ Blog on November 1, 2017.

Government Finances and Gold

‘President Trump, in complete contradiction to candidate Trump, has praised Yellen for being a ‘low-interest-rate-person.’ One reason Trump may have changed his position is that, like most first-term presidents, he thinks low interest rates will help him win reelection. Trump may also realize that his welfare and warfare spending plans require an accommodative Fed to monetize the federal debt. The truth is President Trump’s embrace of status quo monetary policy could prove fatal to both his presidency and the American economy.’ – Ron Paul, Institute for Peace and Prosperity
Editor’s note: This issue of our newsletter features several interactive, live charts offered in conjunction with the St. Louis Federal Reserve and the ICE Benchmark Administration/LBMA. You can access statistical details by moving your cursor over the charts. If the chart does not automatically update, please move the toggle button on the year bar all the way to the right. We invite you to bookmark this edition for future reference.
CHART 1: Sustained by both political parties, the national debt has taken on a life of its own

This post was published at GoldSeek on 1 November 2017.

Pickup Sales Boom, Cars get crushed, Tesla Deliveries Plunge

Carmageddon for Tesla, Fiat Chrysler, Hyundai, and Kia.
Tesla had its worst quarter ever, which means something. It reported today that it lost $671 million on $2.98 billion in revenues. In the three quarters this year, it lost $1.47 billion. The Model 3 isn’t happening in any appreciable numbers. Only a few hundred hand-fabricated units have been rolled out, with mass-production being woefully behind the company’s silly promises.
All this is OK for a young company trying to needle the giants. But its stock price isn’t OK. Though shares fell to $305 in late trading, down 21% from their peak earlier this year, they’re still giving Tesla a market capitalization of an inexplicable $54 billion.
In October, according to Audodata estimates, Tesla sold a total of 3,550 vehicles in the US, down 13.4% from a year ago. Tesla deliveries in the US, after a strong first half, have been declining since July on a year-over-year basis. Whatever happens to the Model 3, Tesla is losing ground in the US with its other models.
Tesla’s market share in the US in October was a minuscule 0.26% of the 1,354,875 total new vehicles sold in the month. Tesla was ahead only of Maserati and Ferrari – tiny niche brands. Beyond the Wall Street hype, when it comes down to real sales numbers in this vast industry, Tesla essentially gets lost as a rounding error.
Among all automakers, total new-vehicle sales in the US fell 1.3% in October to 1.355 million units (delivered by dealers to their customers, or delivered by automakers directly to large fleet customers).

This post was published at Wolf Street on Nov 1, 2017.

“It’s Been Dismal” – Gold Coin Sales Slump As ‘Bugs’ Bounce To Bitcoin

Gold prices are rallying, but retail gold dealers and shops are struggling to survive.
As The Wall Street Journal reports, businesses that sell gold coins and other products made from the precious metal usually thrive during years like 2017.
Gold futures have gained more than 10%, boosted by a weaker dollar and by big investors looking for a haven during recent geopolitical tensions surrounding North Korea and Iran.
But despite higher bullion prices and solid demand from not-American-central banks, American Eagle Coin sales by the US Mint in October 2017 are down 87% YoY for gold and down 73% YoY for silver…

This post was published at Zero Hedge on Nov 1, 2017.

Atlanta Fed Now Sees Q4 GDP At Blistering 4.5%

True to form, the Atlanta Fed – which has a habit of overshooting massively at the start of the quarter based on optimistic estimates only to ease sharply lower on its GDP “nowcast” as the “hard” data comes in – has unveiled its latest Q4 GDP estimate , which the regional Fed expects to print at a blistering 4.5%. The number is more than 50% higher the previous Q4 guesstimate of 2.9%.
Why the surge? The Atlanta Fed looked at today’s mfg ISM report and effectively doubled its forecast for real consumer spending growth and real private fixed investment growth increased from 2.8% and 4.4% , respectively, to 4.1% and 8.8%, respectively. Breaking down the estimate, which was boosted by excess hurricane-related spending, by its constituent components:

This post was published at Zero Hedge on Nov 1, 2017.

Big Bubbles: Endless Printing and Rate Suppression Have Created The Mother of All Asset Bubbles

Crooner Don Ho almost got it right in his signature song ‘Tiny Bubbles.’ But it is now ‘BIG BUBBLES in the economy, make me nervous all over, with a feeling that I’m gonna lose it it all.’
Check it out. Home prices are seemingly unstoppable and the S&P500 index is relentless. The unstoppable asset price bubbles started in the mid-1990s when M2 Money Velocity peaked. The housing bubble burst then rallied back it bubble levels again, but the stock market has outpaced its former glory.

This post was published at Wall Street Examiner by Anthony B Sanders ‘ November 1, 2017.

78 Percent Of U.S. Workers Are Living ‘Paycheck To Paycheck’ And 71 Percent Of Them Are In Debt

Are you living paycheck to paycheck? Is so, you are just like most other hard working Americans. As you will see below, 78 percent of full-time workers in the United States say that they are living paycheck to paycheck. That is the highest figure ever recorded, and it is yet more evidence that the middle class is under an increasing amount of stress. The cost of living is rising at a much faster pace than our paychecks are, and more families are falling out of the middle class with each passing month. Unfortunately, this is something that the mainstream media really doesn’t want to talk about these days. Instead, they just keep having us focus on the soaring financial markets which are being grossly artificially inflated by global central banks.
When I came across the numbers that I am about to share with you I was actually quite stunned. I knew that things were not great in ‘the real economy’, but I didn’t expect that the number of Americans living paycheck to paycheck would actually be rising. But that is precisely what a brand new survey that was just released by CareerBuilder is saying…
Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.
Overall, 71 percent of all U. S. workers said they’re now in debt, up from 68 percent a year ago, CareerBuilder said.
While 46 percent said their debt is manageable, 56 percent said they were in over their heads. About 56 percent also save $100 or less each month, according to CareerBuilder.

This post was published at The Economic Collapse Blog on November 1st, 2017.

Papa John’s Lashes Out At Goodell, Slams NFL “Debacle” For Tumbling Pizza Sales

The ongoing NFL “kneeling” protests are starting to have a major impact on downstream businesses, and none more so than Papa John’s pizza. Earlier this week, the Sports Business Journal reported that Papa John’s in-game pizza sales have fallen since President Donald Trump encouraged people to boycott the NFL in late September.
According to the report, NFL spokesperson Joe Lockhart said that Papa John’s had expressed “concerns with the league.” While Lockhart also said that other top sponsors have expressed similar concerns as the NFL’s TV ratings slump and political battles play out in the league, the NFL is especially crucial to Papa John’s business. The company began its partnership with the NFL in 2010 and has “Preferred Pizza” partnerships with 23 NFL teams. Last year, the company signed a multi-year partnership with the NFL and the Super Bowl.
Fast forward to today, when Papa John founder John Schnatter unleashed on NFL Commissioner Roger Goodell, saying weak leadership at the league has hurt sales of his pizza.

This post was published at Zero Hedge on Nov 1, 2017.

Something Wicked Part 2 – The Roach Motel

In Something Wicked This Way Comes, we provided an in-depth look at how stock repurchases are distorting McDonald’s (MCD) earnings per share and making the company look more profitable than it truly is. When such financial wizardry is considered alongside the growing popularity of passive investment strategies and overall sense of market euphoria, we have a better appreciation for why MCD trades at a valuation higher than fundamentals suggest would be appropriate.
We thought it would be helpful to extend this analysis to the entire S&P 500 to see if we can uncover other companies demonstrating fundamental and valuation divergences similar to MCD.
Who Else?
Similar to the MCD analysis, we evaluated changes in fundamentals, equity price and valuation data over the last five years for most companies that comprise the S&P 500. The data below, summarizing our broad findings, is based on 475 of the 505, S&P 500 companies. 30 companies were omitted from the analysis due to insufficient data.
141 companies, or about 30% of the S&P 500, had annualized five-year sales growth rates of 1% or less. Of these 141 companies:

This post was published at Zero Hedge on Nov 1, 2017.

Will The New Bitcoin CME Futures Contract Benefit Gold?

The Chicago Mercantile Exchange (CME) announced a plan to launch Bitcoin futures by the end of the year. The price of Bitcoin surged to a new record in response to the announcement. It was reminiscent of the dot.com era, when a dot.com stock would jump 10% if Maria Bartiromo merely whispered the name of the company on CNBC.
Ironically, the cheers for this new contract from the Bitcoin faithful could turn out to be analogous to chickens in the barnyard cheering at the appearance of Colonel Sanders.
GATA released an article about the new Bitcoin futures contract titled ‘So Long Cryptos.’ I’m sure that editorial stance puzzled most Bitcoin price-momentum chasers. Crypto aficionados, for now, overlook the fact that CME futures are used aggressively to push around the dollar-based Comex gold and silver futures contracts.
As GATA points out, the ability to manipulate precious metals futures contracts by the official entities motivated to suppress the price of gold is reinforced by the volume trading discounts given from the CME to Governments and Central Banks who trade on the CME.

This post was published at Investment Research Dynamics on November 1, 2017.

Stocks and Precious Metals Charts – Hi Ho Nickel?

Put another nickel in
In the nickelodeon
All I want is having you
And music, music, music.
Teresa Brewer, Music, Music, Music
“A nickel’s not worth a dime anymore.”
Yogi Berra
The FOMC did nothing with rates, but remarked that in their judgement the growth in the economy has changed from ‘moderate’ to ‘solid.’ The market is looking for a rate increase at the December meeting.
I am solidly willing to speculate that the Fed will flip their judgement faster than a flapjack in a NJ diner in the not too distant future. But let’s see what happens.
The markets are widely pricing in a rate increase from the Bank of England this week. Let’s see if they get it.

This post was published at Jesses Crossroads Cafe on 01 NOVEMBER 2017.

Trump Picks Powell To Be Next Fed Chair

According to The Wall Street Journal, President Trump has picked Jerome Powell to be the next Federal Reserve Chair.
The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.
The president spoke with Mr. Powell on Tuesday, according to another person familiar with the matter who couldn’t describe what they discussed.
Mr. Trump said in a video last week that he had ‘somebody very specific in mind’ for the job.
‘It will be a person who hopefully will do a fantastic job,’ Mr. Trump said in a video posted to Instagram, adding, ‘I think everybody will be very impressed.’
Modest reactions for now in USDJPY and gold…

This post was published at Zero Hedge on Nov 1, 2017.

Trump Proposes Repealing Obamacare’s Individual Mandate To Pay For Tax Cuts

Wouldn't it be great to Repeal the very unfair and unpopular Individual Mandate in ObamaCare and use those savings for further Tax Cuts…..
— Donald J. Trump (@realDonaldTrump) November 1, 2017

In a proposal which will further infuriate Democrats, moments ago Trump suggested repealing Obamacare’s individual mandate to fund his proposed tax cut.
“Wouldn’t it be great to repeal the very unfair and unpopular individual mandate in ObamaCare and use those savings for further tax cuts for the Middle Class. The House and Senate should consider ASAP as the process of final approval moves along. Push Biggest Tax Cuts EVER,’ President Trump says in series of posts on Twitter.

This post was published at Zero Hedge on Nov 1, 2017.

Gold Demand Surges in China as Production Sags

The Chinese are buying gold again after a slump in consumer demand last year.
Meanwhile, Chinese gold production is falling.
According to data released by the China Gold Association, gold demand rose 15.5% through the first three quarters of 2017. Demand totaled 815.9 tons, pushed upward by a resurgent jewelry market.
Demand figures released by the association include jewelry, bullion, and industrial gold, but exclude central bank purchases.
China Gold Association chairman Zhang Yongtao told the South China Morning Newsthere are good signs that jewelry demand has returned to a growth track after a sluggish 2016. The data backs him up. Gold jewelry sales increased 7.4% to 503.9 tons through the first three quarters of this year. That compares with a 20% slump in sales during the same period last year.

This post was published at Schiffgold on NOVEMBER 1, 2017.

QE’s Untold Story: A Chart That Fed Correspondents Need to Investigate

We’ve produced some research over the years that we’d love to see the powers-that-be react to, but none more so than our look at financial flows during the QE programs.
By netting all lending by banks and broker-dealers and then comparing it to the Fed’s lending, we stumbled upon a chart that seemed to show exactly what QE does or doesn’t do. But ‘doesn’t,’ not ‘does,’ was the story, and it couldn’t have been clearer. Or shown a more stimulating pattern. To geeks like us, our Excel click on ‘Insert, Line’ was like stepping from a shady trail to a sunny vista.
Here’s the updated chart, which we dubbed the ‘argyle effect’ and looks even sharper than it did when we first produced it in 2014:

This post was published at FinancialSense on 11/01/2017.

“They Can No Longer Squeeze Pershing Square”: Ackman Converts Entire Herbalife Short Into A Put

Pershing Square’s Bill Ackman, who has been engaged in a 5-year long feud with Herbalife, betting its stock price would tumble to zero, came one step closer to admitting defeat on Wednesday when he told CNBC that his hedge fund recently restructured its position in the nutrition and supplements maker. “We converted the short position into a put position,” Ackman said in an interview with CNBC, adding that his firm’s potential losses on Herbalife will now be capped at 3 percent of the firm’s capital. “We can still lose money but the loss is capped.”
But the best part of the interview was the following admission:
“We’ve been entirely right on our Herbalife investment in terms of the fundamentals of the business. We’ve been wrong on the share price. A big part of that is the fact that companies repurchase a huge amount of shares,” Ackman said, confirming what we said back in 2012, namely that as a result of the company’s ongoing preference – following the advice of Carl Icahn – to reuse every dollar of cash flow to fund stock buybacks, those short the name stand to suffer tremendous pain… like Ackman. It’s also why HLF stock price just hit $73, more than 3x higher from where Ackman put on his short, and up more than 50% YTD.

This post was published at Zero Hedge on Nov 1, 2017.