Harvey Organ: HUGE Options Expiration RAID!

A HUGE RISE IN SILVER OI COMPLEX AT 199,231 CONTRACTS PLUS OPTIONS EXPIRY WEEK NECESSITATED A 2ND RAID BY OUR CRIMINAL BANKERS…

 

Harvey Organ

KURODA MAY LOANS BANKS AT NEGATIVE RATES (GET A LOAD OF THAT) AND THUS THE USA/YEN CROSS SKYROCKETS/MARKETS DID NOT RESPOND TO THAT GENEROSITY/CATERPILLAR RESULTS AWFUL AND GUIDANCE IS ALSO SOUTHBOUND/BELLWETHER FOR THE OIL PATCH SCHLUMBERGER ALSO SHOCKS THE STREET WITH GUIDANCE DOWNWARD

Buy 2016 Silver Maples Lowest Price Ever!

SilverMapleSDBullion

Good evening Ladies and Gentlemen:

Gold:  $1,228.70 down $20.30    (comex closing time)

Silver 16.90  down 19 cents

In the access market 5:15 pm

Gold $1232.80

silver:  16.97

 

I WROTE THE FOLLOWING YESTERDAY:

 
 
 
“The boys are burning the midnight oil trying to figure out what to do. There is no question that both gold and silver OI’s increased with today’s trading. The reading of OI for tomorrow will represent today’s trading finality.”
 
The decision was given to raid ( Friday being a great day for the crooks because London is already put to bed for the weekend and thus they are only dealing with paper gold/ no physical problems to deal with).
 
Two other factors contributed to the decision of the bankers to raid for a second time in a row:
a) options expiry week has begun with Tuesday being the final day for the comex
b) the silver OI was gigantic and that in itself necessitated a raid.
 
 

Let us have a look at the data for today

.

At the gold comex today, we had a good delivery day, registering 61 notices for 6100 ounces for gold,and for silver we had 0 notices for nil oz for the non active April delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 224.12 tonnes for a loss of 79 tonnes over that period.

 

In silver, the open interest rose by a gigantic 6,698  contracts up  to 199,231 despite the fact that the price was silver was down  by 4 cents with respect to YESTERDAY’s trading. In ounces, the OI is still represented by .996illion oz or 142% of annual globla silver production (exRussia &ex China)We are now at multi year highs in OI with respect to silver

In silver we had 0 notices served upon for nil oz.

In gold, the total comex gold OI ROSE 4,520 contracts to 511,334 contracts even though the price of gold was DOWN $4.20 withTHURSDAY’S TRADING(at comex closing).Upon seeing that huge OI number in gold, along with the huge accompanying extreme high OI in silver was enough for our bankers and the decision to raid again was on for today.

We had no changes in gold inventory at the GLD, thus the inventory rests tonight at 805.03 tonnes.The boys loading  gold into and/or removing gold at the GLD must be getting dizzy at the sheer pace of transactions!!   The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex.   In silver’s SLV,we had no change in silver inventory.  Thus the inventory rests at 334.724 million oz.

.

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

1. Today, we had the open interest in silver rise by a whopping 6,648 contracts up to 199,231 despite the fact that the price of silver was DOWN 4 cents with THURSDAY’S trading. The gold open interest rose by A LARGE 4,520 contracts despite the fact that gold fell by $4.20 yesterday.   Somebody big is standing FOR SILVER and surrounding the comex with paper longs ready to ponce once called upon to take out physical silver.

(report Harvey)

 

2 a) Gold trading overnight, Goldcore

(Mark OByrne)

3. ASIAN AFFAIRS

i)Late  THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 6.35 POINTS OR 0.22%  ON A LAST HR RESCUE /  Hang Sang closed DOWN 155 OR 0.72%. The Nikkei closed UP 208.87 POINTS OR 1.20% . Australia’s all ordinaires  CLOSED DOWN 0.69%. Chinese yuan (ONSHORE) closed DOWN at 6.4925.  Oil ROSE  to 43.36 dollars per barrel for WTI and 44.867 for Brent. Stocks in Europe ALL IN THE RED (EXCEPT SPAIN) . Offshore yuan trades  6.49607 yuan to the dollar vs 6.49607 for onshore yuan.

 

REPORT ON JAPAN  SOUTH KOREA AND CHINA

a) REPORT ON JAPAN

ii)Kuroda thinking of increasing NIRP and also to supply banks with negative rates

(courtesy Bloomberg)

iii)And the resultant action of this total nonsense:

huge rise in the USA/Yen cross.  Houston we have a problem, stocks are not buying the move as earnings are just too awful!!

( zero hedge)

b) REPORT ON CHINA

iv)Two big stories:  Last night

First:  hundreds of Chinese children mysteriously fall ill suffering from nose bleeds, rashes and coughing from East China’s Jiangsu Province.  The school is right next store to huge chemical factories:

( zero hedge)

Second: Early this morning: massive explosion at a Chemical plant in the same Jiangsu province:
( zero hedge)
 

4.EUROPEAN AFFAIRS

i) Greece is back in the spotlight as they fail to reach a deal with lenders.  Worse still, they lost their “champion” , the IMF, who now state that Greece can survive without debt haircuts. I do not know what planet the iMF is on but Greece is one big basket case

( zero hedge)

ii)Great Britain has politely asked Obama not to interfere in the BREXIT situation.Things must not be going well as he just gave an OP-Ed to Gr. Britain:

( zero hedge)
 
iii)A very important read today by David Stockman on the ECB.  He basically states that this gentleman is nothing but a charlatan and do not pay attention to his phony statements like the European households are now lending money to finance projects etc…Europe has no growth in that dept. for quite a while.  Basically, Draghi cannot go further into NIRP as this will totally annihilate the European banks and he has very little assets left to monetize.

 
a must read..
 
( David Stockman/ContraCorner)
 

5.GLOBAL ISSUES

New York listed Caterpillar is perhaps the best Bellwether companies to determine global health.  We now witness their sales plunging 26% and they had another earning miss.  However it is their outlook that is looked upon with great earnest:  they are slashing revenue and earnings.  The global picture is not good at all:

( zero hedge)

6.EMERGING MARKETS

Venezuela is without a doubt becoming one complete train wreck: they are now cutting off electricity 4 hrs per day:

( zero hedge)

7. OIL ISSUES

SCHLUMBERGER, THE WORLD’S LARGEST OIL SERVICE PROVIDER HAS COME OUT WITH ok NON GAAP EARNINGS, BUT THEIR NET INCOME PLUNGED NEARLY 50%. THESE GUYS HELP FIND OIL FOR OIL COMPANIES AND THEY ARE STATING THAT OIL DRILLERS ARE CUTTING BACK. AND SLASHING SPENDING BY 50%.  THEY HAVE  GIVEN THEIR GUIDANCE LOWER!

( ZERO HEDGE)

 

ii)Crude rises as rig counts tumbles again:

(zero hedge)

iii)The IEA warns that both the Saudi and the Russians will pump as much oil as they can and will not pay any attention to “freezes”

( IEA/zeor hedge)

8.PHYSICAL MARKETS

i)Chris Powell talks about a possible gold revaluation:
( Chris Powell/GATA)
 
ii)The Russians are mocking the west’s rigging of the precious metals market”( Sputnik/GATA/Chris Powell)

iii)Dave Kranzler shows the extreme manipulation that is happening and will be happening in the coming week as we go into options expiry week:

( Dave Kranzler/IRD)

9.USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD/SILVER

i)As expected USA manufacturing PMI flash prints at 50.8 missing expectations of 52.0.  This is the lowest print since 2009.  This is a reading of the entire USA:

( zero hedge/PMI)

 

ii)The Bond king speaketh:

Two points of interest:

a) He feels Trump will win and will be good for the economy

b) The Fed has given up on raising rates

(courtesy Gundlach/zero hedge)

 

iii)We have outlined to your on several occasions that the used car prices are coming down and that this is causing problems for the  new car market as it is much cheaper to buy a used car than a new one.  The Volkswagen car settlement case in NY will create havoc as countless numbers of used Volkswagen cars will flood the market once they are fixed

( zero hedge)

 

iv)Greg Hunter’s weekly wrap up

 

Let us head over to the comex:

The total gold comex open interest ROSE CONSIDERABLY to an OI level of 511,334 for a GAIN of 4,520 contracts despite the fact that the price of gold DOWN  $4.20 with respect to YESTERDAY’S TRADING.However I expected a lot higher OI.  We are now entering the active delivery month of April. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest:  1) total gold comex collapse in OI as we enter an active delivery month or for that matter an inactive month, and 2) a continual drop in the amount of gold standing in an active month. We certainly witnessed both parts today . In the front month of April we lost 209 contracts from 1703 contracts down to 1494.  We had 171 notices filed yesterday so we LOST  38 CONTRACTS or an additional 3800 gold ounces will NOT stand for delivery. The next non active contract month of May saw its OI fall by 415 contracts down to 2385. The next big active gold contract is June and here the OI rose by 4514 contracts up to 83,471. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was poor at 159,377. The confirmed volume YESTERDAY (which includes the volume during regular business hours + access market sales the previous day was very good at 284,106 contracts. The comex is not in backwardation.

Today we had 61 notices filed for 6100 oz in gold.

 

And now for the wild silver comex results. Silver OI ROSE by a considerable 6648 contracts from 192,583 UP to 199,231 DESPITE THE FACT THAT the price of silver was DOWN 4 cents with YESTERDAY’S TRADING.  We are now in the next contract month of April and here the OI fell by 0 contracts remaining at 6. We had 0 notices filed on YESTERDAY so we NEITHER  gained NOR LOST ANY SILVER OUNCES THAT will stand for delivery in this non active month of April.   The next active contract month is May and here the OI FELL by 14,092 contracts DOWN to 5,863. This level is exceedingly high AS WE ONLY HAVE 1  week before first day notice on Friday, April 29. The volume on the comex today (just comex) came in at 112,816, which is HUMONGOUS  AND NOT MANY ROLLOVERS. The confirmed volume yesterday (comex + globex) was OUT OF THIS WORLD AT 205,642. Silver is not in backwardation. London is in backwardation for several months.
 
THE HIGH OPEN INTEREST FOR THE ENTIRE COMPLEX PLUS THE HIGH OI FOR THE FRONT MAY CONTRACT MUST BE SCARING OUR BANKERS TO NO END. 
 
 
We had 0 notices filed for NIL oz.
 
 

April contract month:

INITIAL standings for APRIL

 
 
 
Initial Standings for April
 
 

April 22/2016

Gold
Ounces
Withdrawals from Dealers Inventory in oz   nil
Withdrawals from Customer Inventory in oz  nil  1,221.7oz (Manfra, Scotia)38 kilobars
Deposits to the Dealer Inventory in oz NIL
Deposits to the Customer Inventory, in oz  643.00 OZHSBC

 

20 kilobars

No of oz served (contracts) today 61 contracts
(6100 oz)
No of oz to be served (notices) 1433 contracts 143,300 oz/
Total monthly oz gold served (contracts) so far this month 2672 contracts (267,200 oz)
Total accumulative withdrawals  of gold from the Dealers inventory this month   nil
Total accumulative withdrawal of gold from the Customer inventory this month 111,298.7 oz

Today we had 0 dealer deposits

 

Today we had 0 dealer withdrawals:

total dealer withdrawals:  nil oz

total dealer deposits: 0

Today we had 1 customer deposit:

i) Into HSBC: 643.000 oz

(20 kilobars)

total customer deposit:  643.000 oz

 

Today we had 2 customer withdrawals:

i) Out of Manfra;  192.90 oz  6 kilobars

ii) Out of Scotia: 1028.800 oz  32 kilobars

total customer withdrawal:201.489  oz   38 kilobars

Today we had 1 adjustment:

Out of Scotia:

289.77 oz was adjusted out of the dealer and into the customer and this is probably a settlement:   .0009 tonnes

 
 

 

Today, 0 notices was issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 61 contracts of which 18 notices was stopped (received) by JPMorgan dealer and 13 notices were stopped (received)  by JPMorgan customer account. 
 
To calculate the initial total number of gold ounces standing for the Mar contract month, we take the total number of notices filed so far for the month (2672) x 100 oz  or 267,200 oz , to which we  add the difference between the open interest for the front month of April (1494 CONTRACTS) minus the number of notices served upon today (61) x 100 oz   x 100 oz per contract equals the number of ounces standing.
 
Thus the initial standings for gold for the April. contract month:
No of notices served so far (2672) x 100 oz  or ounces + {OI for the front month (1494) minus the number of  notices served upon today (61) x 100 oz which equals 414,300 oz standing in this non  active delivery month of April (12.768 tonnes).
 
We lost 38 contracts or 3800 oz will not stand.
 
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. 
 
 
We thus have 12.768 tonnes of gold standing for April and 17.165 tonnes of registered gold for sale, waiting to serve upon those standing.  The bankers are still doing their best in cash settling as there is not enough registered gold to satisfy those that are standing.
 
We now have partial evidence of gold settling for last months deliveries We now have 12.768 tonnes (April) +2.2311 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes -.0434 tonnes (March 11,12,17,18) + March 31: 1.2470 and then  April 1,2: – .0006 tonnes  and last week April 16 .3203 and April 22 .0009  = 19.8211 tonnes still standing against 17.165 tonnes available.  .
 
 
Total dealer inventor 551,863.652 oz or 17.165 tonnes
Total gold inventory (dealer and customer) =7,205,549.709 or 224.12 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 224.12 tonnes for a loss of 79 tonnes over that period. 
 
JPMorgan has only 21.15 tonnes of gold total (both dealer and customer)
 
 end
 
 
And now for silver
 

APRIL INITIAL standings

 april 22

 
Silver
Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory 1,269,579.67 ozCNT, Delaware

HSBC,JPMorgan, Scotia

Deposits to the Dealer Inventory nil
Deposits to the Customer Inventory 600,522.159 CNT
No of oz served today (contracts) 0 contractsNIL  oz
No of oz to be served (notices) 6 contracts)(30,000 oz)
Total monthly oz silver served (contracts) 189 contracts (945,000 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 7,794,270.7 oz
 

today we had 0 deposits into the dealer account

total dealer deposit: nil oz

we had 0 dealer withdrawals:

total dealer withdrawals:  nil

 

we had 1 customer deposit:

i) Into CNT: 600,522.159 oz

Total customer deposits: 600,522.159 oz.

 
 

We had 5 customer withdrawals

i) Out of CNT: 219.806.2

ii) Out of Delaware: 1990.800 oz

iii) Out of HSBC: 75,174.880 oz

iv) Out of JPMorgan; 600,000.300 oz

v)Out of Scotia:  372,607.490 oz

 

:

total customer withdrawals:  1,269,579.67  oz

 
 

 

 we had 0 adjustments

 
The total number of notices filed today for the April contract month is represented by 0 contracts for NIL oz. To calculate the number of silver ounces that will stand for delivery in April., we take the total number of notices filed for the month so far at (189) x 5,000 oz  = 945,000 oz to which we add the difference between the open interest for the front month of April (6) and the number of notices served upon today (0) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the April. contract month:  189 (notices served so far)x 5000 oz +(6{ OI for front month of April ) -number of notices served upon today (0)x 5000 oz  equals 975,000 oz of silver standing for the March contract month.
 
we neither gained nor lost any silver ounces standing in this non active delivery month of April.
 
 
 
Total dealer silver:  31.957 million
Total number of dealer and customer silver:   151.135 million oz
 
The open interest on silver is now at multi year highs and silver is slowly disappearing from the comex vaults.
 
 
The total dealer amount of silver remains at multi year low of 31.957 million oz.
 
 
 
 
 
end
 
At 3:30 pm we get the COT report beginning the 12 of April, ending Tues April 19
Let us see what damage our commercial and criminal bankers did this week:
 
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
291,143 74,306 44,240 117,743 357,864 453,126 476,410
Change from Prior Reporting Period
4,802 1,772 -2,729 -4,438 3,896 -2,365 2,939
Traders
183 92 79 41 61 259 199
 
  Small Speculators      
  Long Short Open Interest    
  50,205 26,921 503,331    
  1,173 -4,131 -1,192    
  non reportable positions Change from the previous reporting period  
COT Gold Report – Positions as of Tuesday, April 19, 2016
 
Our large specs:
 
Those large specs that have been long in gold added 4802 contracts to their long side
Those large specs that have been short in gold added 1772 contracts to their short side
 
Our commercials:
Those commercials that have been long in gold pitched a large 4438 contracts from their long side.
Those commercials that have been short in gold added 3896 contracts to their short side
 
Our small specs:
Our small specs that have been long in gold added 1173 contracts to their long side
Our small specs that have been short in gold covered a considerable 4131 contracts from their short side.
 
Conclusions; our criminal bankers went net short by 8334 contracts and that is bearish and usually means continual raids. The boat is getting quite heavy on the long side for the specs and very heavy on the short side for the commercials.
 
 
 
and now for our silver cot:
 
Silver COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
94,988 23,560 15,772 53,952 138,036 164,712 177,368
7,096 -1,864 -2,106 1,844 13,512 6,834 9,542
Traders
102 65 41 38 42 161 133
  Small Speculators      
  Long Short Open Interest    
  29,798 17,142 194,510    
  2,876 168 9,710    
  non reportable positions Change from the previous reporting period  
COT Silver Report – Positions as of Tuesday, April 19, 2016
WHAT ON EARTH IS GOING ON HERE????
 
Our large specs:
 
Those large specs that have been long in silver added a very healthy 7,076 contracts.
Those large specs that have been short in silver covered correctly 1864 contracts from their short side.
 
Our criminal silver commercials:
 Those commercials that have been long in silver added 1844 contracts to their long side
And now the biggy!!
Those commercials that have been short in silver added a gigantic 13,512 contracts to their short side (as silver went dramatically up)
 
Our small specs:
 
Those small specs that have been long in silver added 2876 contracts to their long side
Those small specs that have been short in silver added 168 contracts to their short side.
How on earth does the CFTC allow this criminal behaviour on the banks;
they went net short by 11,668 or 58.34 million oz of silver.
 
end
 
And now the Gold inventory at the GLD
 
April 22/ no changes in gold inventory/rests tonight at 805.03 tonnes
April 21/no change in gold inventory/rests tonight at 805.03 tonnes
April 20/no change in gold inventory/rests tonight at 805.03 tonnes
April 19./we had a huge withdrawal of 7.43 tonnes from the GLD/Inventory rests tonight at 805.03 tonnes
 
April 18.2016/a huge addition of 6.38 tonnes of gold  in gold inventory at the GLD/Inventory rests at 812.46
April 14/another big change in gold inventory at the GLD/, a withdrawal of 3.26 tonnes/Inventory rests at 806.82 tonnes
April 13./another withdrawal of 5.06 tonnes of gold from the GLD/no doubt this gold was used in the raid/Inventory rests at 810.08 tonnes
 
April 12/another huge withdrawal of 2.67 tonnes of gold from the GLD and again despite the rise in gold. The boys must be desperate to get their hands on some physical.
Inventory rests at 815.14 tonnes.
 
 
 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

April 22.2016:  inventory rests at 805.03 tonnes

 

end

 

Now the SLV Inventory
 
April 22/ no changes in silver inventory/rests tonight at 334.724 million oz
 
April 21/no change in silver inventory/rests at 334.724 million oz/
April 20/no change in inventory/rests at 334.724 million oz
 
April 19./we had a huge inventory deposit of 1.437 million oz/inventory rests at 334.724
 
April 18./no change in inventory at the SLV. Inventory rests at 333.297 million oz
 
April 15./we had a withdrawal of 951,000 oz of silver from the SLV/Inventory rests at 333.297
April 14./no change in inventory at the SLV/Inventory rests at 334.248 million oz
 
April 13/a strange withdrawal of 1.903 million oz with silver rising in price??/Inventory rests at 334.248 million oz
April 12.no change in silver inventory/rests tonight at 336.151 million oz
 
 
 
 
 
 
.
April 22.2016: Inventory 334.724 million oz
 
.end
 
 
1. Central Fund of Canada: traded at Negative 5.5 percent to NAV usa funds and Negative 5.5% to NAV for Cdn funds!!!!
Percentage of fund in gold 61.5%
Percentage of fund in silver:38.6%
cash .-.1%( April 22.2016).
2. Sprott silver fund (PSLV): Premium to rises falls to -95%!!!! NAV (April22.2016) 
3. Sprott gold fund (PHYS): premium to NAV  falls.+77% to NAV  ( April22.2016)
Note: Sprott silver trust back  into negative territory at -95%% due to purchase of 75 million dollars worth of silver/Sprott physical gold trust is back into positive territory at +.77%/Central fund of Canada’s is still in jail.
 
It looks like Eric Sprott got on the nerves of our bankers as they lowered the premium in silver to +.33%.  Remember that Eric is to get 75 million dollars worth of silver in a new offering.