Gold: $1291.70 UP $2.30
Silver: $18.25 DOWN 24 cents
Closing access prices:
Gold $1290.00
silver: $18.30!!!
Premium of Shanghai 2nd fix/NY:$7.69
LONDON FIRST GOLD FIX: 5:30 am est $1285.00
For comex gold:
For silver:
For silver: APRIL
Total number of notices filed so far this month: 744 for 3,720,000 oz
The open interest in silver continues to advance with today’s reading just under 228,000 contracts (227,775 contracts/a new record) or about 4000 contracts ABOVE the record set last year. The price of silver is a good $2.14 below the previous record price when that record OI was set last year. It seems that the boys want to attack our precious metals as they are quite nervous about silver and its gigantic high OI for the front month of May.
Tonight’s open interest for gold should rise by about 2,000 contracts. The silver OI should fall because the price fell by 24 cents. A rise will cause migraines galore for our bankers.
Let us have a look at the data for today

This post was published at Harvey Organ Blog on April 18, 2017.

Cardinal Health, Peers Tumble As Lower Generic Drug Prices Hurt Industry Outlook

Cardinal Health tumbled the most in almost six months after the healthcare product distributor warned its outlook would be toward the lower end of its forecast range for this year and gave initial fiscal 2018 guidance that missed analyst estimates.
The company is grappling with lower prices for generic medicines, a trend that several sellside analysts warned is likely to also hit competitors McKesson and AmerisourceBergen. After the poor guidance, CAH fell as much as 12%, most since Oct. 28; Comps ABC and MCK were down as much as 6.2% and 5.7%, respectively. Prior to today, CAH was up 14% YTD vs S&P 500 Health Care Index up 7.6%; ABC had gained 11%, MCK was up 2.7%.

This post was published at Zero Hedge on Apr 18, 2017.

The BBC Looks At “How Western Civilization Could Collapse”

The political economist Benjamin Friedman once compared modern Western society to a stable bicycle whose wheels are kept spinning by economic growth. Should that forward-propelling motion slow or cease, the pillars that define our society – democracy, individual liberties, social tolerance and more – would begin to teeter. Our world would become an increasingly ugly place, one defined by a scramble over limited resources and a rejection of anyone outside of our immediate group. Should we find no way to get the wheels back in motion, we’d eventually face total societal collapse.
Such collapses have occurred many times in human history, and no civilisation, no matter how seemingly great, is immune to the vulnerabilities that may lead a society to its end. Regardless of how well things are going in the present moment, the situation can always change. Putting aside species-ending events like an asteroid strike, nuclear winter or deadly pandemic, history tells us that it’s usually a plethora of factors that contribute to collapse. What are they, and which, if any, have already begun to surface? It should come as no surprise that humanity is currently on an unsustainable and uncertain path – but just how close are we to reaching the point of no return?

This post was published at Zero Hedge on Apr 18, 2017.

Is The Fed Actually Paying The Banks Not To Lend? – Episode 1257a

The following video was published by X22Report on Apr 18, 2017
Gold was slammed down today, the deep state/central bank is trying to keep everyone away from precious metals. The corporate media has now admitted that there is a problem and that people are losing their job, the corporate media is now broadcasting the collapse of the economy. Restaurant traffic is down. 250% increase in the S&P and pensions have not changed since 2008. Housing starts drop, the real estate market is in trouble. Industrial production is still in decline and is flashing a recession. Is the Fed paying the banks not to lend, on the surface it seems that way.

Stocks and Precious Metals Charts – What Is a Youth

“In one of his last speeches as Fed Chair, Bernanke bragged about how Fed didn’t have info it needed in 2009 to say banks were solvent. How would Bernanke know? He never took significant interest in the regulatory findings, simply followed assurances of others. OCC was complicit in tolerating excesses of banks in the lead up to the Great Financial Crisis; in aftermath, teeth never shown.
Essentially, the Great Financial Crisis was result of widespread fraud on the part of sellers of ‘securitized assets’. Books of banks masked huge SPE exposure. ‘Opaque securities’ were sold as investible quality but nothing more than mathematical approximations at time of issue. Yes, it became far more profitable to sell complex MBS risk baskets than identifiable, securitized assets
Were there villains? Of course, there were. Place to look was Wall Street. It compensated much more for selling opaque securities. Well, there’s that reality, too. I’ve been told by more than one current and former banker that the banks tell the regulators what the rules should be.
And let’s keep in mind regulators let each bank devise its own, unique value at risk model, rendering stress tests highly unreliable. The Way governments ended doubts about solvency of opaque banks was with stress tests and pledge of taxpayer funds to maintain solvency.”
Harald Malmgren
Uncle Buck took a dive today based largely on the British sterling component in the DX index. The PM Theresa May called for a general election in the UK seeking a strong Brexit mandate. She believes she will win it obviously.
Gold and silver were mixed in the NY trade, with silver finishing slightly off, but gold higher to end around 1290.
Stocks were weak, although the volumes remain relatively light and algo driven. Any serious event could crumble this market, but we are in that ‘don’t know don’t care’ phase of the bubble where a long term horizon is next week, and no one knows anything except to keep dancing while the music is playing.

This post was published at Jesses Crossroads Cafe on 18 APRIL 2017.

“It’s Very Shocking” – Georgia’s Cobb County Waited 2 Days Before Admitting Critical Voting Machines Stolen

In a stunning report, Cobb County’s Channel 2 Action News has learned that critical voting machines were stolen just days before polls will open for a special election.
State officials are investigating after equipment was taken from a Cobb County precinct manager’s vehicle. Cobb County Elections Director Janine Eveler said the stolen machines cannot be used to fraudulently vote in Tuesday’s election. The four so-called ExpressPoll machines were the computers poll workers used to check-in voters, and check those off who cast ballots.

This post was published at Zero Hedge on Apr 18, 2017.

The Auto Industry’s Check Engine Light Is On

Hey, auto industry. Your check engine light is on! A couple of weeks ago, we reported on the strained retail bubble. But that’s not the only balloon that Fed has managed to inflate with almost a decade of easy money.
For the last several years, the auto loan market has ballooned to record levels – nearly $1.1 trillion. That compares with $987 billion at the end of 2015. Over the last two years, the amount outstanding on auto loans has increased 21%. More disturbing is the rise in subprime auto lending. Deep subprime loans made up the fastest growing auto financing segment in the fourth quarter of 2016, increasing 14.57%. Subprime loan balances also climbed 8.62%. As ZeroHedge pointed out, ‘Deep Subprime’ borrowers have increased by double the amount of any other bucket.’ According to Bloomberg, about a quarter of all auto loans fall into the subprime category.
In other words, lenders are making a lot of risky car loans. Shaun Bradley of Anti Media put it this way.
‘Teaser offers that allow people to get cars with zero money down and 84-month financing have fueled a wave of irresponsible spending. Americans’ tendency to associate success with having nice things has driven many people who can’t afford to buy a house to get the next best thing – a brand new car.’
And what happens when people borrow money to buy things they can’t really afford? Ultimately, they struggle to pay for it. And unsurprisingly, delinquency rates on auto loans are climbing rapidly, as MarketWatch recently reported.

This post was published at Schiffgold on APRIL 18, 2017.

Warren Buffett Now Selling US Houses To Chinese Oligarchs

While extolling the virtues of American consumers and praising the US economy, Warren Buffett has started seeking the help – and funds – of Chinese oligarchs to sell houses from his real estate brokerage HomeServices. According to Bloomberg’s Berkshire’s real estate brokerage, HomeServices – currently the second-largest U. S. residential real estate brokerage – acquired as part of Buffett acquisition of an energy business, “is expanding its global reach with a push to attract wealthy Chinese citizens to purchase homes in the U. S”, in the process diverting “hot” Chinese money to the US (see Vancouver and Toronto for the outcome).
As Bloomberg reports, HomeServices has been expanding under Buffett by opening new locations, forming a 2012 venture to expand licensing operations and then working to capitalize on demand from non-U. S. buyers. The unit hired Realogy’s Peter Turtzo in 2015 to push into international markets and recruited Mitchell Lewis from Christie’s International Real Estate in September to build operations in Europe, the Middle East and Africa.
As a result, on April 17 Buffett’s HomeServices announced an agreement to advertise its U. S. homes on Juwai.com, which attracts about 2 million visitors a month. The portal hosts sites on both sides of China’s ‘great firewall,’ meaning consumers can access the information inside the nation from more than 400 cities and also from more than 160 other countries, according to a statement Monday.

This post was published at Zero Hedge on Apr 18, 2017.

Asian Metals Market Update: Apr-18-2017

The fall in gold and silver is just profit taking which if it continues during the day will result in more losses. Intraday volatility will rise. News from North Korea and other parts of the globe will be closely watched. The next seven trading session are very crucial for gold and silver from a medium term perspective. The ability to have a sustained rise will be tested for gold and silver bulls.
This week I am against buying gold unless it trades over $1307. Silver needs to trade over $1827 to prevent a sell off. Copper needs to trade over $256 to continue to rise more. Crude oil and natural gas prices will be dependent on the ability to hold key supports.

This post was published at GoldSeek on 18 April 2017.

Chaos Coming To A Market Near You This Summer

This post Chaos Coming To A Market Near You This Summer appeared first on Daily Reckoning.
[This post is from Lee Adler. To find out more about his work – visit Wall Street Examiner by clicking HERE.] This month the Fed is adding $23.4 billion in cash to Primary Dealer Trading Accounts in the period April 12-20. This is slightly more than the March addition of $21.9 billion, the smallest add since January 2016. It was a sharp decline from February’s $41.6 billion.
You may have thought Quantitative Easing (QE) ended in late 2014, and it did, but the Federal Reserve has continued to add cash to the financial markets every month. It does so via the purchases of mortgage backed securities (MBS). It calls them ‘replacement purchases.’
The Fed and Mortgage Backed Securities
The Fed is the bank for the banks, i.e. the central bank. It has resolved since 2009 to force trillions in excess cash into the banking system and make sure that that money stays in the system. It has also resolved to make sure that the amount of the cash in the system does not shrink. It does that each month via its program of MBS replacement purchases.
The Primary Dealers are selected by the Fed for the privilege of trading directly with the Fed in the execution of monetary policy. This is essentially the only means by which monetary policy is transmitted directly to the securities markets, and then indirectly into the US and world economies. The only means which the Fed uses in the transmission and execution of monetary policy is via securities trades with the Primary Dealers.

This post was published at Wall Street Examiner on April 18, 2017.

RBC: We Are “Losing The Impulse”

Having repeatedly noted that his clients desperately held on to hope that the reflationary impulse would sustain despite the adverse series of events and geopolitical shocks over the past two weeks, RBC’s head of cross-asset strategy Charlie McElligott may have just stuck a dagger in their hearts, pointing out what we have been pounding the table on for the past three months, namely the fading inflationary impulse out of China, manifesting itself most vividly in the recent crash in various commodities, and iron ore in particular, which has tumbled 30% from recent highs.
In a note released on Tuesday morning, McElligott cautions that the market is “losing the [reflationary] impulse” and adds that while attention is focused on events out of the UK where Theresa May unexpectedly announced snap elections, “the ‘real’ macro story in my eyes overnight is the ongoing commodities fade originating out of China. Iron Ore continued its outright collapse (Qingdao 62% Iron Ore is -17.6% MTD and -30.2% from late February highs), while Aluminum, Copper, Zinc, Lead, Rubber, Gold, Silver, Rebar, Brent / WTI Crude, Gasoline and Nat Gas are all markedly lower.”

This post was published at Zero Hedge on Apr 18, 2017.

Make America Great Again: Buy Extremely Overvalued Stocks

Key Economic Data Continues To Show A Recession
The stock market assumed a decidedly bearish tone last week, in the face of apparent domestic political instability, increasing geopolitical tensions and, most important, a continued flow of hard economic data reflecting an economy that is in recession (click image to enlarge).

The SPX declined 3 out of the 4 trading days this last week to close down 1.1% from the previous Friday’s close. It’s down nearly 3% from the all-time high it hit on March 1st. Thursday’s big red bar took the SPX below the 50 dma. On all four days the SPX closed well below its intra-day high. This indicates to me that, at least for now, stock market traders are better sellers. Also of interest, for the first time in seventeen years, the stock market declined the day before the Good Friday market holiday.

This post was published at Investment Research Dynamics on April 18, 2017.

Trump To Crack Down On Visa “Abuse” In “Hire American” Executive Order

President Trump will sign an executive order on Tuesday that aims to overhaul the H1-B visa program used by tech companies to bring high-skilled workers to the U. S., directing a government-wide review aimed at putting new teeth back into decades-old ‘Buy American’ and ‘Hire American’ directives.
As The Hill reports, Trump will travel to a manufacturing plant in Kenosha, Wis., to sign the order, which the administration says will make it more difficult for U. S. companies to look overseas for workers to fill middle-income jobs.
At a background briefing with reporters, senior administration officials described the current H1-B visa program as a lottery system that indiscriminately hands out work visas to contracting firms that recruit low-skilled, low-wage workers to replace working-class domestic laborers.
They say a new system is needed to ensure that the program returns to its original purpose of bringing in high-skilled, high-paid workers to fill more specialized or technical roles.

This post was published at Zero Hedge on Apr 18, 2017.

Dollar Sinks As Goldman Covers ‘Top Trade’ Recommendations; Blames Fed, Trump

Goldman tells clients to go long USD, tells Trump to short it
— zerohedge (@zerohedge) April 13, 2017

Just a few short weeks after Goldman’s top FX strategist (whose favorite trade was ‘long dollar’) quit, the banking behemoth has reversed its call on two so-called “top trades”…
Before Goldman’s chief FX strategist Robin Brooks quit (the replacement to the infamous Thomas Stolper), he suggested…
…coming Dollar appreciation will arguably take the Dollar into overvalued territory, but given the outperformance of the US vis- -vis others, US policy makers will have to accept this as part of a necessary tightening in financial conditions.
And now, just a few short weeks later, Goldman says they are closing their two long-Dollar ‘Top Trade’ recommendations: long USD versus EUR and GBP, and long USD/CNY via the 12-month NDF.
We see three main reasons why these trades have not performed since initiation in mid-November, and no longer warrant a place among our ‘Top Trades’:
(1) The pickup in global growth, which has reduced the degree of US outperformance.

This post was published at Zero Hedge on Apr 18, 2017.

’67 Mustangs, Rolling Stone, and Diversifying Your Wealth

This article was submitted by Matt Malleo, SchiffGold Precious Metals Specialist and Managing Director. Matt was formally educated at Cornell University where he studied business. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
The following is a fictional account of a day-in-the-life of a teenage boy named Mike Stockton living in 1967. Mike’s story is recorded as a set of entries made in his financial diary, outlining his economic activity, a summer night date, and his hopes of buying the car of his dreams.
Entry #1
July 1, 1967
Dear Financial Diary,
I am Mike Stockton a 15-year-old high school student in Wisconsin figuring out the world. I wake up on a sunny Saturday morning July 1, 1967, and go off to work. Too young to be drafted in the Vietnam War, I help support my family, pumping gas at $0.30 a gallon for my minimum wage of $1.40 an hour. I save as much as I can and I have been working for years. I’m due to get my license in one year and want to buy my dream car, a red Shelby Mustang priced at $2,461.
Today, I decide to spend $0.35 for a newly released magazine called Rolling Stone Magazine. I am a music fan and was telling all my friends about two bands that I predict will make it big, The Doors and Pink Floyd, they both released their first albums in 1967. It has been the Summer of Love, with protests around the country drawing hundreds of thousands to pressure President Lyndon B. Johnson into taking America out of the Vietnam War. It hasn’t worked though. Instead, the President gathered a group of ‘Wise Men’ and they planned on combating the protests with optimistic reports from Vietnam.

This post was published at Schiffgold on APRIL 18, 2017.