Deutsche Bank Plunges to ALL-TIME Lows! – Harvey Organ

Deutsche BankHere We Go…

 

ANOTHER HUGE “PAPER” WITHDRAWAL OF GOLD FROM THE GLD/HUGE SPREAD IN GOLD AT THE SHANGHAI GOLD FIX/LOAN DEMAND FALLS DRAMATICALLY IN CHINA: THE ONLY GAME IN TOWN IS THE RISING HOUSE PRICES WITH THE ACCOMPANYING SHADOW BANKING LOANS/DEUTSCHE BANK FALLS TO ALL TIME LOWS. ITALY’S RENZI IN A SPARING MATCH WITH GERMANY’S CENTRAL BANKER WEIDMANN

 2 oz Silver Queen’s Beasts 
Just $2.89 Over Spot, ANY QTY At SD Bullion!

Gold $1313.70 up $0.20

Silver 19.20  down 1 cent

In the access market 5:15 pm

Gold: 1314.80

Silver: 19.25

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 5:30  am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Sept 20 (10:15 pm est last night): $  1320.03

NY ACCESS PRICE: $1315.70 (AT THE EXACT SAME TIME)

Shanghai afternoon fix:  2: 15 am est (second fix/early  morning):$   1320.03

NY ACCESS PRICE: 1315.90 (AT THE EXACT SAME TIME)

HUGE SPREAD TODAY!!

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London Fix: Sept 20: 5:30 am est:  $1315.40   (NY: same time:  $1315.37:    5:30AM)

London Second fix Sept 16: 10 am est:  $1313.80  (NY same time: $1313.80 ,    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.

Also why would mining companies hand in their gold to the comex and receive constantly lower prices.  They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

 
 

For comex gold:The front September contract month we had 0 notices filed for nil oz

 

For silver:  the front month of September we have a total of 105 notices filed for 525,000 oz

 
 

Let us have a look at the data for today

2016 Silver Eagles Sale

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In silver, the total open interest ROSE by 2109 contracts UP to 193,605. The open interest ROSE as the silver price was up 43 cents in yesterday’s trading .In ounces, the OI is still represented by just LESS THAN 1 BILLION oz i.e. .968 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 105 notices served upon for 525,000 oz

In gold, the total comex gold fell by 468 contracts even though the price of gold rose BY $7.70 yesterday . The total gold OI stands at 565,071 contracts.  The level of OI now is good for us as it will support a rise in gold price and it will be hardly for the boys to raid.

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With respect to our two criminal funds, the GLD and the SLV:

GLD

LAST NIGHT WE HAD A HUGE CHANGE  out of the GLD/ A WITHDRAWAL OF 3.86 TONNES FROM THE gld

Total gold inventory rest tonight at: 938.75 tonnes of gold

SLV

we had NO change with respect to inventory at the SLV

THE SLV Inventory rests at: 363.479 million oz

.

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

1. Today, we had the open interest in silver rose by 2109 contracts up to 193,605 as the price of silver rose by 43 cents with yesterday’s trading.The gold open interest fell 468 contracts down to 565,071 as the price of gold rose $7.70 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  MONDAY night/TUESDAY morning: Shanghai closed DOWN 3.05 POINTS OR .10%/ /Hang Sang closed DOWN 19.59 PONTS OR .08%. The Nikkei closed DOWN 27.14 POINTS OR .16%/ Australia’s all ordinaires  CLOSED UP 0.17% /Chinese yuan (ONSHORE) closed  UP at 6.6712/Oil rose to 43.05 dollars per barrel for WTI and 45.55 for Brent. Stocks in Europe: ALL MIXED   Offshore yuan trades  6.6818 yuan to the dollar vs 6.6712 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS AGAIN AS MORE USA DOLLARS  LEAVE CHINA’S SHORES

REPORT ON JAPAN  SOUTH KOREA NORTH KOREA AND CHINA

3a)Korea:

none

b) REPORT ON JAPAN

none today

c) REPORT ON CHINA

The following is a very important commentary.  Although the demand for loans for housing continues to rise (as indicated by the increase in shadow bank financing) , China is witnessing an overall loan demand drop.  This is due to low demand for loans on the corporate sector as global demand for goods dissipates

( zerohedge)

4 EUROPEAN AFFAIRS

i)The gloves just came off as Italy’s Renzi attacks Deutsche bank’s unfixable derivative problem.  Renzi has his own problems on non performing loans equal to about 360 billion euros or 18% of all total loans.  But he states that his problems are small compared to the supposed 42 trillion Euros (47 trillion USA) in derivatives held by DB.

( zero hedge)

ii)It sure looks like Deutsche bank is hiding its losses through derivatives a la Greece in 2010. The market believes the same

( zero hedge)

iii)And today, Deutsche bank hits record lows

( Dave Kranzler/IRD)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

none today

6.GLOBAL ISSUES

none today

7.OIL ISSUES

i)Oil continues with its descent as no production freeze is on the horizon

( zero hedge)

ii)The east coast gas pipeline is now fixed and that causes gasoline prices to plunge;

( zero hedge)

 

iii)Late in the day, oil jumps after a huge inventory draw

( zero hedge)

8.EMERGING MARKETS

none today

9.PHYSICAL STORIES

i)Sibanye mines Neal Froneman is not afraid to say that President Zuma must go:

( GATA/Bloomberg)

ii)Turk asks: “what will be the Fed’s excuse for not raising rates this time?”Same B.S. as before.

( James Turk/Kingworldnews)

iii)Bill Murphy talks about the gold and silver suppression scheme

( GATA)

iv)Bitcoin is deemed money by a USA judge:

(courtesy Chris Powell/GATA/Reuters)

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

i)It sure looks like intent here as Combetta sought a reddit advice on how to strip VIP emails 5 months before Hillary delivered emails to the state dept.

( zero hedge)

ii)Now the House Committee is reviewing Combetta’s Reddit threat and they may rescind the immunity order because he misled the house.

( zero hedge)

iib)That did not take long!. The house committee demands an interview with Mr Combetta. That should be interesting!

( zero hedge)

iii)This month we received an interesting boost in homebuilder confidence.  Today housing starts tumbled and thus the higher confidence seems a little misplaced

( zero hedge)

iv)the mouthpiece of the Fed, Jon Hilsenrath hath spoken: no rate hike until December

( zero hedge)

v)the Atlanta Fed’s first Q3 GDP print comes in at only 2.9% and you can bet the farm that it will be adjusted lower

( Atlanta Fed/zero hedge)

 

Let us head over to the comex:

The total gold comex open interest fell to an OI level of 565,071 for a loss of 468 contracts as the price of gold ROSE by $7.70 with YESTERDAY’S trading. We are now in the NON active month of SEPTEMBER/

The contract month of Sept saw it’s OI ROSE by 20 contracts UP to 157. We had 0 notices filed yesterday so we gained 20 gold contracts or an additional 2000 gold ounces  will stand for delivery. The next delivery month is October and here the OI lost just 2 contracts DOWN to 37,539. 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 decrease of 96 contracts down to 419,415 .The estimated volume today at the comex: 95,652 which is horrendous.  Confirmed volume on yesterday: 141,481 which is fair.

 

Today we had  0 notices filed for  nil oz of gold.
 
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And now for the wild silver comex results.  Total silver OI rose by 2,109 contracts from  191,496 up to 193,605 with the rise in price of silver to the tune of 43 cents on 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 19 contracts down to 692. We had 27 notices filed upon yesterday so we GAINED BACK ANOTHER 8 contracts or 40,000 additional oz will stand for delivery in this active month of September. The next non active delivery movement of October LOST 1 CONTRACT TO 290 contracts.  The next big delivery month is December and here it FELL by 1997 contracts DOWN to 168,266. The volume on the comex today (just comex) came in at 34,116 which is fair.  The confirmed volume yesterday (comex and globex) was very good at 50,609 . Silver is not in backwardation.  London is in backwardation for several months.

 

today we had 105 notices filed for silver: 525,000 oz

 
 
 
 
 
INITIAL standings for SEPTEMBER
 
 SEPT 20.
 
Gold
Ounces
Withdrawals from Dealers Inventory in oz  NIL
Withdrawals from Customer Inventory in oz  nil
 
32.15 oz
1 kilobar
 
 
 
Manfra
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz 
 
 
nil
 
 
 
 
No of oz served (contracts) today
0 notices 
nil oz
No of oz to be served (notices)
157 contracts
(15,700 oz)
 
 
Total monthly oz gold served (contracts) so far this month
2427 contracts
242,700 oz
 
7.5489 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   170,150.1 oz
 
 Today; some activity at the gold comex and 1 kilobar entry and another massive amount of gold leaving the comex
 
 
We had 0 dealer deposit:
 
 
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:
 
ii) Out of Manfra; 32.15 oz
(1 kilobar)
 
total customer withdrawals: 32.15 oz
 
 
 
 
 
Today we had 0 adjustment:
 
 
 
 
 
 
 
 
 
 
 
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 0 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 (2427) x 100 oz or 242,700 oz, to which we add the difference between the open interest for the front month of SEPT (157 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 263,400 oz, the number of ounces standing in this  NON active month of September.
 
 
 
 
Thus the INITIAL standings for gold for the SEPT contract month:
No of notices served so far (2427) x 100 oz  or ounces + {OI for the front month (157) minus the number of  notices served upon today (0) x 100 oz which equals 263,400 oz standing in this non  active delivery month of SEPT  (8.1928 tonnes).
 
 
 
 
We gained an additional 2,000 oz that will stand.  We have surpassed  our original standings on first day notice. (ON FIRST DAY NOTICE 7.5561 TONNES STOOD FOR DELIVERY) as well as surpassing the 8 tonne mark.  This is without a doubt a record level of gold ounces standing for September.
 
 
 
 
 
 
 Total dealer inventor 2,329,260.475 or 72.449 tonnes
Total gold inventory (dealer and customer) =10,851,159.760 or 337.51 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 337.51 tonnes for a  gain of 35  tonnes over that period. However since August 8 we have lost 15 tonnes leaving the comex.
 
Ladies and Gentlemen:  the comex is beginning to lose some of its gold as no doubt the Shanghai fix is having its effect.
 
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 of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction.  This would be similar to the rehypothecated gold used by Jon Corzine.
 
 
IN THE LAST MONTH 15 NET TONNES HAS LEFT THE COMEX.

 

 

 
end
 
 
 
 
And now for silver
 
SEPT INITIAL standings
 SEPT20.2016
 
 
Silver
Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
 
 
 
 
637,575.89 oz
HSBC
Scotia
Brinks
 
 
 
Deposits to the Dealer Inventory
 
 
 511,849.400  OZ
Brinks
 
 
 
 
 
 
 
Deposits to the Customer Inventory 
 
 
 403,684.05 oz
CNT
 
 
 
 
 
 
No of oz served today (contracts)
105 CONTRACTS
(525,000 OZ)
No of oz to be served (notices)
587 contracts
(2,935,000 oz)
Total monthly oz silver served (contracts) 2591 contracts (12,955,000 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  5,983,6199.9 oz
today, we had 1 deposit into the dealer account:
 
 i) Into Brinks: 511,849.400 oz
 
 
total dealer deposit: 511,849.400 oz
 
we had 0 dealer withdrawals:
 
 total dealer withdrawals: NIL oz
 
 
 
 we had 3 customer withdrawals:
 
 
i) Out of HSBC:  20,162.89 oz
ii) Out of Scotia; 600,388.000  oz ??? exactly xx.000 oz???
iii) Out of Brinks: 17,025.000 oz ???? exactly xx.000???
 
 
 
 
 
Total customer withdrawals: 637,575.89  oz
 
We had 1 customer deposit:
i) Into CNT:  403,684.05 oz
 
 
 
 
 
 
 
 
total customer deposits:  403,684.05  oz
 
 
 
 
 
 
 
 
 
 we had 0 adjustment
 
 
 
The total number of notices filed today for the SEPT contract month is represented by 105 contracts for 525,000 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 (2591) x 5,000 oz  = 12,955,000 oz to which we add the difference between the open interest for the front month of SEPT (692) and the number of notices served upon today (105) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the SEPT contract month:  2591(notices served so far)x 5000 oz +(691 OI for front month of SEPT ) -number of notices served upon today (105)x 5000 oz  equals  15,890,000 oz  of silver standing for the SEPT contract month.
 
we GAINED 8  contracts or an additional 40,000 will stand FOR DELIVERY IN THIS  ACTIVE MONTH OF SEPTEMBER. 
 
 
 
 
 
 
 
 
 
Total dealer silver:  31.677 million (close to record low inventory  
 
Total number of dealer and customer silver:   170,722 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 20/A HUGE CHANGES IN INVENTORY AT THE GLD/: A WITHDRAWAL OF 3.86 TONNES/INVENTORY RESTS AT 938.75 TONNES
SEPT 19/2016: 10.39 TONNES WERE ADDED INTO THE GLD/THIS WOULD BE A “PAPER DEPOSIT”/INVENTORY RESTS AT 942.61 TONNES
 
Sept 16./no change in gold inventory at the GLD/Inventory rests at 932.22 tonnes
SEPT 15/another paper withdrawal of 3.27 tonnes of “gold” inentory leaves the GLD/Inventory rests at 932.22 tonnes
SEPT 14./A  withdrawal of 4.45 tonnes of gold inventory from the GLD/Inventory rests at 935.49 tonnes
SEPT 13/no changes in gold inventory at the GLD/Inventory rests at 939.94 tonnes
Sept 12/no changes in gold inventory at the GLD/inventory rests at 939.94 tonnes

SEPT 9/ we had a big changes tonight out of the GLD/ there were two major withdrawals

i) first early morning: 1.19 tonnes

ii) second:  10.68 tonnes of gold

total: 11.87 tonnes

Total gold inventory rest tonight at: 939.94 tonnes of gold

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
 
 
 
 
 
 
 
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SEPT 19/ Inventory rests tonight at 938.75 tonnes
 

end

 
 
Now the SLV Inventory
SEPT 20/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 363.479 MILLION OZ
SEPT 19/A HUGE ADDITION OF 1.045 MILLION OZ WAS ADDED INTO THE SLV/INVENTORY RESTS AT 363.479 MILLION OZ/
Sept 16/no changes in silver inventory/inventory rests at 362.434 million oz/
SEPT 15/no change in silver inventory/inventory rests at 362.434 million oz.
SEPT 14/no change in silver inventory at the SLV/Inventory rests at 362.434 million oz
sept 13/2016: a huge deposit of 1.329 million oz into the SLV/Inventory rests at 362.434 million oz/
Sept 12/a huge withdrawal of 1.614 million oz from the SLV/Inventory rests at 361.105 million oz
 
 
SEPT 9/no change in silver inventory at the SLV/Inventory rests at 362.719 million oz/
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
 
 
 
 
.
SEPT 20.2016: Inventory 363.479 million oz
 
 end

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 5.1 percent to NAV usa funds and Negative 5.2% to NAV for Cdn funds!!!!  (the discount is starting to disappear)
Percentage of fund in gold 59.5%
Percentage of fund in silver:39.3%
cash .+1.2%( SEPT 20/2016).
 
2. Sprott silver fund (PSLV): Premium falls to +0.65%!!!! NAV (SEPT 20/2016) 
3. Sprott gold fund (PHYS): premium to NAV  RISES TO  0.87% to NAV  ( SEPT 20/2016)
Note: Sprott silver trust back  into POSITIVE territory at +0.65% /Sprott physical gold trust is back into positive territory at 0.87%/Central fund of Canada’s is still in jail.