Eric Sprott & the Flash Boys Are Taking On the Bad Guys! – Harvey Organ

grossThe “flash boys” with the support of our own Eric Sprott are taking on the bad guys our HFT traders in the gold market.
They should neutralize the criminals stopping their spoofing…

 

OPEN INTEREST FOR THE UPCOMING OCTOBER CONTRACT REMAINS EXTREMELY HIGH AT 44,000 CONTRACTS/DESPITE THE WHACKING OF GOLD AND SILVER YESTERDAY, BOTH OI’S RISE AT THE COMEX/BANK OF JAPAN/AND OR THE GOVERNMENT ARE PLANNING SOMETHING BIG AND THUS WE MUST BE COGNIZANT/ITALY’S TARGET 2 BALANCES RISE HUGELY DESPITE ITS CURRENT ACCOUNT SURPLUS/TOTAL CREDIT IN THE USA RISES AGAIN: BOTH AUTO LOANS AND STUDENT LOANS TAKE THE BULK OF THOSE LOANS: TOTAL NUMBER FOR BOTH; 2.4 BILLION USA DOLLARS

On Sale At SD Bullion

Last Chance…

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Gold:1336.80 down $7.50

Silver 19.59  down 17 cents

In the access market 5:15 pm

Gold: 1337.40

Silver: 19.62

THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

.

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 3 am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 45 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Sept 8 (10:15 pm est last night): $1348.03

NY ACCESS PRICE: $1347.05 (AT THE EXACT SAME TIME)

Shanghai afternoon fix:  2: 15 am est (second fix/early  morning):$1348.96

NY ACCESS PRICE: 1346.75 (AT THE EXACT SAME TIME)

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London Fix: Sept 8: 3: am est:  $1348.00   (NY: same time:  $1347.42:    3 AM)

London Second fix Sept 8: 10 am est:  $1343.40  (NY same time: $1344.60 ,    10 AM)

 

It seems that Shanghai pricing is higher than the other  two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex

 
 

For gold:The front September contract month we had 399 notices filed for 39900 oz

 

For silver:  the month of September we have a total of 429 notices filed for 2,145,000 oz

 
 

Let us have a look at the data for today

.

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In silver, the total open interest rose by 135 contracts up to 199,332. The open interest rose even as the silver price was down 29 cents in yesterday’s trading .In ounces, the OI is still represented by just LESS THAN 1 BILLION oz i.e. .967 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia &ex China). the crooks are doing a great job fleecing unsuspecting longs

In silver we had 304 notices served upon for 1,520,000 oz

In gold, the total comex gold rose by 7810 contracts despite the fact that the price of gold fell BY $5.10 yesterday . The total gold OI stands at 598,466 contracts

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With respect to the GLD and the SLV:

GLD

we had a no changes tonight out of the GLD

Total gold inventory rest tonight at: 951.81 tonnes of gold

SLV

we had no changes with respect to inventory at the SLV /SLV inventory

THE SLV Inventory rests at: 362.719million oz

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver rose by 28791 contracts up to 199,197 as the  price of silver fell by 29 cents with yesterday’s trading.The gold open interest rose 28,791 contracts up to 590,656 as the price of gold fell $5.10 IN YESTERDAY’S TRADING.

(report Harvey).

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

 

end

3. ASIAN AFFAIRS

i)Late  TUESDAY night/WEDNEDAY morning: Shanghai closed UP 18.61 POINTS OR 0.61%/ /Hang Sang closed UP 138.13 points or 0.58%. The Nikkei closed UP 44.35 POINTS OR 0.26% Australia’s all ordinaires  CLOSED DOWN 0.29% Chinese yuan (ONSHORE) closed UP at 6.6785/Oil ROSE to 44.91 dollars per barrel for WTI and 47.42 for Brent. Stocks in Europe: IN THE GREEN EXCEPT LONDON  Offshore yuan trades  6.6894 yuan to the dollar vs 6.6785 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS SLIGHTLY AS  MORE USA DOLLARS ATTEMPT TO  LEAVE CHINA’S SHORES

REPORT ON JAPAN  SOUTH KOREA NORTH KOREA AND CHINA

a) REPORT ON JAPAN

The following is very important:  The Bank of Japan may be planning something fierce trying to get its economy going.  The latest theory is a reverse operation twist where the central bank buys long term and sells short term.  This will be deemed tightening and so to offset that, they will want to lower its interest rate from -.20% down to -4%. That will unleash nothing but terror and cause a massive outflow from their stock market and may cause the Japanese interest rate to rise above zero.

we must watch carefully on this development.

( zero hedge)

b) REPORT ON CHINA

Big problems in China.  Many investors were expecting that China would devalue immediately after the G20 meeting.  However to the surprise of many they raised the Hibor rate and that crushed the yuan shorts.  It also launched a huge buying spree for Bitcoin.  Again we witnessed more dollars leaving China;.  55 billion USA left in July and 49 billion USA left in June. China’s total reserves (which includes gold) fell to 3.185 trillion uSA

( zero hedge)

4 EUROPEAN AFFAIRS

i)ITALY

Another huge story:  Italy’s target 2 balances is a massive liability to other members of the EU despite having positive current account surplus with the rest of the world due to its strong manufacturing base. Do you have money leaving the banking sector due to its massive problems…

stay tuned

( zerohedge)

 

ii) THE ECB

As expected the ECB keeps rates unchanged and reaffirms that they will keep QE until March 2017 and probably BEYOND

( zero hedge)

 

iii)And now the conference: wow!!

no discussion on extension of asset purchase plan and also states that no additional stimulus is needed? Euro surges above 1.13! and Euro stocks are slumping!gold is hit a bit.

( zero hedge)

iv)And as zero hedge has speculated, the ECB will probably run out of bonds to buy as early as this November.  Then the fun begins:

( zero hedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

none today

6.GLOBAL ISSUES

HANJIN AFFAIR

Earnings for many firms will suffer as chaos on the high seas reigns supreme.  e have 14 billion in uSA cargo stranded at sea.  The crews have only a week left of food and water;
( zerohedge)

7.OIL ISSUES

i)Both API and EIA report lower inventory levels as huge drawdowns due to hurricane Hermine as oil shoots higher

( zero hedge)

ii)There are 4 scenarios that can happen for oil producers ahead of the next oil summit in Algiers.  You can skip one through 3, only number 4 will be the resultant:

( BLOOMBERG/Angelina Rascouet/zero hedge)

 

8.EMERGING MARKETS

none today

9.PHYSICAL STORIES

i)We brought this story to you yesterday about the “flash boys” with the support of our own Eric Sprott taking on the bad guys our HFT traders in the gold market. They should neutralize the criminals stopping their spoofing.
 
( GATA/Chris Powell/Reuters)
 

ii)More on the Deutsche bank-Xetra gold case:( Reggie Middleton)

iii)The following is a shocker to the highest degree:  The Fed tells congress to restrict banks from buying stocks and COMMODITIES

Something is up!! why now?

(courtesy zero hedge and Bloomberg

iv))The poor data coming from the states will propel gold above the $1350 mark

( Lawrence Williams/Sharp’s Pixley/Lawrieongold)

10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER

i)How can the dept of Labour explain poor PMI and ISM numbers on both manufacturing and service with lower jobless claims?

( zero hedge)

ii)Michael Snyder on how the big one trillion uSA auto loan bubble will burst:

( Michael Snyder/EconomicCollapse blog)

iii) Charles Ortel is a Wall Street analyst who is well respected.  He is the one who noted huge financial discrepancies with General Electric whose stock crashed in 2008 after his report.

2016 Silver Eagles SaleHe now states that the Clinton Foundation is one big charity fraud

(courtesy zero hedge/Charles Ortel)

iv)Total credit jumps by 18 billion in july and the winning sector: student and auto loans. With weak car sales we wonder what the loans given were spent on:

The total loans now are $1.4 trillion USA. Total auto loans now eclipse $1 trillion USA.

( zero hedge)

Let us head over to the comex:

The total gold comex open interest ROSE to an OI level of 598,466 for a GAIN of 7810 contracts even though the price of gold FELL by $5.10 with yesterday’s trading. We are now in the NON active month of SEPTEMBER/

The contract month of Sept saw it’s OI fall by 393 contracts down to 119. We had 399 notices filed yesterday so we GAINED 6 contracts or 600 additional oz will stand for delivery.  The next delivery month is October and here the OI rose by 47 contracts up to 44,280. This level is extremely high and no doubt many of these will wait it out and take delivery at the end of the month. The next contract month of December showed an increase  of  6664 contracts up to 450,549.The estimated volume today at the comex: 183,637 fair  Confirmed volume yesterday: 165,383, which is also fair.

Today we had  1 notice filed for  100 oz of gold.
 
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And now for the wild silver comex results.  Total silver OI ROSE by 135 contracts from 199,197 UP TO 199,332  despite the FALL in price of silver to the tune of 29 cents yesterday.  We are moving away from the all time record high for silver open interest set on Wednesday August 3:  (224,540).  We are now into the next active month of September and here the OI fell by 331 contracts down to 1468. We had 429 notices filed on yesterday so we gained 33 contracts or 165,000 additional oz will stand for delivery in this active month of September.  The next non active delivery movement of October hardly moved falling by 11 contract down to 270 contracts.  The next big delivery month will be December and here it fell , down 62 contracts  to 173,334. The volume on the comex today (just comex) came in at 43,993 which is very good  The confirmed volume yesterday (comex and globex) was escellent  at 57,676 . Silver is not in backwardation.  London is in backwardation for several months.
 

today we had 304 notices filed for silver: 1,520,000 oz

 
 
 
 
 
 
 
INITIAL standings for SEPTEMBER
 
 SEPT 8.
Gold
Ounces
Withdrawals from Dealers Inventory in oz  NIL
Withdrawals from Customer Inventory in oz  nil
8,398.25 OZ
BRINKS
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz NIL
Deposits to the Customer Inventory, in oz 
 
NIL
 
 
 
 
 
 
No of oz served (contracts) today
1 notice 
100 oz
No of oz to be served (notices)
118 contracts
(11,800 oz)
 
 
Total monthly oz gold served (contracts) so far this month
2304 contracts
230,400 oz
 
7.1644 tonnes
 
Total accumulative withdrawals  of gold from the Dealers inventory this month   192.90 oz
Total accumulative withdrawal of gold from the Customer inventory this month   35,725.9 oz
 Today: tiny activity at the gold comex and 0 kilobar entry
 
We had 0 dealer deposits:
 
Total dealer deposits; NIL oz
 
 
We had 0 dealer withdrawals:
 
total dealer withdrawals:  NIL oz
 
 
We had 0 customer deposits:
 
 Total customer deposits:  nil oz
 
 
 
We had 1 customer withdrawals:
i) Out of Brinks: 8,398.25  oz
Total customer withdrawals: 8,398.25 oz
 
 
 
Today we had 0 adjustments:
 
 
 
 
 
 
 
 
Note:
 
If anybody is holding any gold at the comex, you must be out of your mind!!!
since comex gold storage is unallocated , rest assured any gold stored at the comex will be compromised!
 
I also urge all of you do not place any option trades at the comex as these gangsters will gun you down.
 
If you are taking delivery of gold/silver please remove it from comex banks and place it in private vaults 
 
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Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued form their client or customer account. The total of all issuance by all participants equates to 1 contract  of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped (received) by jPMorgan customer account.
 
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To calculate the initial total number of gold ounces standing for the SEPT  contract month, we take the total number of notices filed so far for the month (2304) x 100 oz  or 230,400 oz , to which we  add the difference between the open interest for the front month of SEPT  (119 CONTRACTS) minus the number of notices served upon today (1) x 100 oz   x 100 oz per contract equals 242,200  oz, the number of ounces standing in this NON active month. 
 
 
Thus the INITIAL standings for gold for the SEPT contract month:
No of notices served so far (2304) x 100 oz  or ounces + {OI for the front month (119) minus the number of  notices served upon today (1) x 100 oz which equals 242,200 oz standing in this non  active delivery month of SEPT  (7.5333 tonnes).
 
 
we  GAINED 6 contracts or an additional 600 oz will  stand. We are almost back to our original standings on first day notice. (ON FIRST DAY NOTICE: 7.5561 TONNES STOOD FOR DELIVERY)
 
 
 
 
 
 
 
 
 
 
 
 
Since the comex allows GLD shares to be used for settling, it may take quite a while for the physical gold to enter the comex vaults.  So far I have seen little evidence of any settling of contracts but I will continue to monitor it for you.  This is becoming quite a farce but I will no longer show settlements vs what is owing:
 
 
 
 
 Total dealer inventor 2,440,410.452 or 75.906 tonnes
Total gold inventory (dealer and customer) =10,920.897.369 or 339.68 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 339.68 tonnes for a  gain of 37  tonnes over that period. 
 
Ladies and Gentlemen:  the comex is beginning to lose some of its gold.
 
 
 

THE GOLD COMEX IS AN ABSOLUTE FRAUD. THE USE OF KILOBARS AND EXACT WEIGHTS MAKES THE DATA TOTALLY ABSURD AND FRAUDULENT!!

To me, the only thing that makes sense is the fact that “kilobars” are entries or hypothecated gold sent to other jurisdictions so that they will not be short in their derivatives like in England.  This would be similar to the gold used by Jon Corzine. If this is the case, this would be the greatest fraud perpetrated on USA soil.

 

 
 
 
 end
 
 
 
 
And now for silver
 
SEPT INITIAL standings
 SEPT 8.2016
 
Inventory movements not available today from the CME/
Silver
Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
 
 
 
 
20,794.79 oz
 
 
BRINKS
 
SCOTIA
 
 
 
 
Deposits to the Dealer Inventory
 
 
 641,778.75 OZ
CNT
 
 
 
 
 
Deposits to the Customer Inventoryxxx
 
 
 595,775.000 oz
CNT
HSBC
JP MORGAN
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
304 CONTRACTS
(1,520,000 OZ)
No of oz to be served (notices)
1164 contracts
(5,820,000 oz)
Total monthly oz silver served (contracts) 1520 contracts (8,555,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month  NIL oz
Total accumulative withdrawal  of silver from the Customer inventory this month  3,122,399.5 oz
today, we had 1 deposit into the dealer account:
i) Into CNT:  641,778.75 oz
 
total dealer deposit:   641,778.75 oz
 
we had 0 dealer withdrawals:
 total dealer withdrawals: NIL oz
 
 
 we had 2 customer withdrawals:
 
 
 i) Out of BRINKS  5038.32 OZ
 
ii) Out of Scotia: 15,756.47 oz
 
 
 
 
 
Total customer withdrawals: 20,794.79  oz
 
We had 3 customer deposit:
i) Into CNT 1972.500 OZ
ii) Into HSBC: 578,046.000 oz  ????
iii) into JPMorgan 15,756.500 oz
 
 
 
 
 
 
total customer deposits:  595,775.000   oz
 
 
 
 
 
 
 
 
 
 we had 1 adjustment
i) from the vaults of CNT:
2,953.11 oz was adjusted out of the customer at CNT into the dealer account of CNT
 
 
 
 
 
 
 
 
The total number of notices filed today for the SEPT contract month is represented by 304 contracts for 1,520,000 oz. To calculate the number of silver ounces that will stand for delivery in SEPT., we take the total number of notices filed for the month so far at (1711) x 5,000 oz  = 8,555,000 oz to which we add the difference between the open interest for the front month of SEPT (1468) and the number of notices served upon today (304) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the SEPT contract month:  1711(notices served so far)x 5000 oz +(1468 OI for front month of SEPT ) -number of notices served upon today (304)x 5000 oz  equals  14,375,000 oz  of silver standing for the SEPT contract month.
 
we gained 98 contracts or an additional 490,000 will stand FOR DELIVERY IN THIS  ACTIVE MONTH OF SEPTEMBER. SOMEBODY TONIGHT WAS IN GREAT NEED OF SILVER.
 
 
 
 
 
 
 
 
 
Total dealer silver:  29.449 million (close to record low inventory  
 
Total number of dealer and customer silver:   164.078 million oz (close to a record low)
 
The total open interest on silver is NOW close to its all time high with the record of 224,540 being set AUGUST 3.2016.  The registered silver (dealer silver) is NOW NEAR  multi year lows as silver is being drawn out at both dealer and customer levels and heading to China and other destinations. The shear movement of silver into and out of the vaults signify that something is going on in silver.
 
 
end
 
 
And now the Gold inventory at the GLD
Sept 8./no changes in gold inventory at the GLD/Inventory rests tonight at 951.81 tonnes
 
SEPT 7.2016/we had a small withdrawal of .333 tones from the GLD/Inventory rests tonight at 951.81 tonnes
Sept 6/a monstrous addition of 14.25 tonnes into the GLD/with London in backwardation in gold I wonder how these guys found so much “gold”/Inventory rests tonight at 952.14 tonnes/
Sept 2/no change in inventory at the GLD/Inventory rests at 937.89 tonnes
SEPT 1/another montrous withdrawal of 5.34 tonnes/Inventory rests at 937.89 tonnes
August 31/ a monstrous 13.36 tonnes of gold leaves the GLD/inventory rests at 943.23 tonnes
august 30/no change at the GLD/Inventory rests at 956.59 tonnes
August 29/no changes at the GLD/Inventory rests at 956.59 tonnes
August 26./no changes at the GLD/inventory rests at 956.59 tonnes
August 25/a withdrawal of 1.78 tonnes at the GLD/Inventory rests at 956.59 tones
August 24/NO CHANGE  in gold inventory at the GLD/inventory restsw at 958.37 tonnes
August 23/no change in gold inventory at the GLD/Inventory rests at 958.37 tonnes
August 22/ a deposit of 2.38 tonnes of gold into the GLD/Inventory rests at 958.37 tonnes
August 19/no changes at the GLD/inventory resets at 955.99 tonnes
August 18/a withdrawla of 6.24 tonnes of gold from the gLD/Inventory rests at 955.99 tonness
August 17/no change in gold inventory at the GLD/inventory rests at 962.23 tonnes
August 16/ a deposit of 1.78 tonnes of “paper gold” into the GLD/Inventory rests at 962.23 tonnes
August 15/what a farce!! a huge “paper gold’ withdrawal of 12.17 tonnes/inventory rests at 960.45 tonnes
August 12/no change in gold inventory at the GLD/Inventory rests at 972.62 tonnes
August 11/no changes in gold inventory at the GLD/Inventory rests at 972.62 tonnes
 
 
 
 
 
 
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SEPT 8/ Inventory rests tonight at 951.81 tonnes
 

end

 
 
Now the SLV Inventory
Sept 8/ no changes in silver inventory at the SLV/Inventory rests at 362.719 million oz/
SEPT 7/We had a huge addition of 3.134 million oz into the SLV/Inventory rests a t 362.719 million oz. In less than a month we had added 11 million oz of silver into SLV vaults.
Sept 6/Strange: no addition of silver at the SLV. You mean they cannot find any paper silver?/Inventory rests at 359.585 million oz
Sept 2/a small withdrawal of 158,000 oz at the SLV probably to pay for fees/Inventor  rests at 359.585 million oz.
SEPT 1/no change in inventory at the SLV/Inventory rests at 359.743 million oz/
August 31/we had a monstrous addition of 1.899 million oz into the SLV/this would be a paper addition/inventory rests at 359.743 million oz//why the difference in gold and silver: one reduces dramatically and the other increases dramatically
August 30/no change in silver inventory/inventory rests at 357.844 million oz/
August 29/we had a good sized deposit of 950,000 oz at the SLV/Inventory rests at 357.844 million oz/
August 26/no change in silver inventory at the SLV/Inventory rests at 356.894 million oz
August 25/a withdrawal of 1.899 million oz from the SLV/Inventory rests at 356.894 million oz
August 24/no change in silver inventory at the SLV/Inventory rests at 358.793 million oz
August 23/no change in silver inventory at the SLV/Inventory rests at 358.793 million oz.
August 22/a huge addition of 3.324 million oz into the SLV/Inventory rests at 358.793 million oz
August 19/no change in silver SLV/Inventory rests at 355.469 million oz/
August 18/ a massive paper deposit of 2.185 million oz into the SLV/Inventory rests at 355.469 million oz
August 17/ we had a huge deposit of 1.519 million oz into the SLV/Inventory rests at 353.284 million oz/
August 16/no change in inventory/rests tonight at 351.765 million oz
August 15./amazing, we have a huge withdrawal in gold and yet nothing moves out of silver: no change in silver inventory at the SLV/Inventory rests at 351.765 million oz.
August 12/no change in silver inventory at the SLV/Inventory rests at 351.765 million oz
August 11/no change in silver inventory at the SLV/Inventory rests at 351.765 oz
 
 
 
.
SEPT 8.2016: Inventory 362.719 million oz
 
 
 
 

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 5.3 percent to NAV usa funds and Negative 5.0% to NAV for Cdn funds!!!!  (the discount is starting to disappear)
Percentage of fund in gold 59.2%
Percentage of fund in silver:39.7%
cash .+1.1%( SEPT 8/2016).
 
2. Sprott silver fund (PSLV): Premium rises to +0.94%!!!! NAV (SEPT 8/2016) 
3. Sprott gold fund (PHYS): premium to NAV  falls TO  0.42% to NAV  ( SEPT 8/2016)
Note: Sprott silver trust back  into POSITIVE territory at +0.94% /Sprott physical gold trust is back into positive territory at 0.42%/Central fund of Canada’s is still in jail.