Harvey Organ: Non-Stop Raids Have Had Little Effect On Resolute Silver Longs

That’s not the only problem the cartel has with silver, but with the volume of gold trading still above normal, the large drop in open interest has allowed the bankers to continue the price smashings. Here’s the latest…

by Harvey Organ of Harvey Organ Blog

SEPT 28/GOLD RISES BY $1.55 TO $1286.00/SILVER UP 3 CENTS/UBS AGREES WITH US THAT THE USA WILL NOT IMPLEMENT ANY MEANINGFUL TAX REFORM/CHINA ORDERS ALL NORTHERN KOREAN COMPANIES AND PERSONNEL OUT OF THE COUNTRY/GERMANY WITHDRAWS FROM INCIRLIK/

GOLD: $1286.00 UP $1.55

Silver: $16.82 UP 3 CENT(S)

Closing access prices:

Gold $1287.50

silver: $16.87

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: $1293.84 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1283.30

PREMIUM FIRST FIX: $9.54 (premiums getting larger)

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SECOND SHANGHAI GOLD FIX: $1291.23

NY GOLD PRICE AT THE EXACT SAME TIME: $1279.90

Premium of Shanghai 2nd fix/NY:$11.32 (PREMIUMS GETTING LARGER)

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LONDON FIRST GOLD FIX: 5:30 am est $1284.30

NY PRICING AT THE EXACT SAME TIME: $1282.30 ???

LONDON SECOND GOLD FIX 10 AM: $1283.35

NY PRICING AT THE EXACT SAME TIME. 1284.00???

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 484 NOTICE(S) FOR 48400 OZ.

TOTAL NOTICES SO FAR: 577 FOR 57700 OZ (1.7947 TONNES)

For silver:

SEPTEMBER

37 NOTICES FILED TODAY FOR

185,000 OZ/

Total number of notices filed so far this month: 6,575 for 32,875,000 oz

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end

Let us have a look at the data for today

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In silver, the total open interest FELL BY 1909 contracts from 186,997 DOWN TO 184,997 WITH THE GOOD SIZED FALL IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 9 CENTS ). AGAIN TODAY, IT SURE LOOKS LIKE WE GOT A SMALL AMOUNT OF BANKER SILVER SHORT COVERING AT THIS WEEK IS OPTIONS EXPIRY ON THE LONDON/OTC MARKET AND WE ALWAYS ON THE RECIPROCAL END OF RAIDS

RESULT: A SMALL FALL IN OI COMEX WITH THE 9 CENT PRICE FALL. IT LOOKS LIKE WE HAD A SMALL AMOUNT OF BANKER SHORTS COVERING. THE BANKERS AGAIN ORCHESTRATE ANOTHER RAID TODAY AND FAILED AGAIN.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.924 BILLION TO BE EXACT or 132% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 78 NOTICE(S) FOR 390,000 OZ OF SILVER

In gold, the open interest FELL BY A LARGE 9752 CONTRACTS WITH THE FALL in price of gold ($13.65 DROP) WITH YESTERDAY’S COMEX TRADING. The new OI for the gold complex rests at 539,885. WE ARE NOW IN THE MIDDLE OF OPTIONS EXPIRY WEEK SO IT IS NOT A SURPRISE THAT THE CROOKS CONTINUED WITH THEIR RAIDING. THERE IS NO DOUBT THAT THE CONTINUAL RAIDS HAS THE OBJECT OF INTEREST BEING SILVER AND NOT GOLD AS WE STILL WITNESS STUBBORN LONGS REFUSE TO BUDGE FROM THEIR SILVER TREE.

Result: A LARGE SIZED DECREASE IN OI WITH THE GOOD SIZED FALL IN PRICE IN GOLD ($13.65).

we had: 484 notice(s) filed upon for 48400 oz of gold.

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

GLD: WOW!!

Tonight , NO CHANGES in gold inventory at the GLD:

Inventory rests tonight: 864.65 tonnes.

SLV

Today: a no changes in inventory:

INVENTORY RESTS AT 326.757 MILLION OZ

end

.

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

1. Today, we had the open interest in silver FELL BY 1909 contracts from 186,906 DOWN TO 184,997 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) . AGAIN TODAY, IT SEEMS THAT A TINY FRACTION OF OUR BANKER SHORTS COVERED. THEY NEED TO COVER A MUCH HIGHER NUMBER WHEN RAIDS ARE ORCHESTRATED. SO THEY TRIED AGAIN TODAY.

RESULT: A SMALL SIZED DROP IN SILVER OI AT THE COMEX WITH THE GOOD SIZED RISE IN PRICE OF 9 CENTS IN YESTERDAY’S TRADING. ANOTHER ATTEMPTED RAID ORCHESTRATED BY THE CROOKS FOR TODAY SEEMS TO HAVE FAILED IN SILVER.

Let us head over to the comex:

The total gold comex open interest FELL BY MORE THAN EXPECTED 9752 CONTRACTS DOWN to an OI level of 539,885 WITH THE FALL IN THE PRICE OF GOLD ($13.65 LOSS IN YESTERDAY’S TRADING).

Result: a LARGER SIZED open interest DECREASE WITH THE GOOD SIZED FALL IN THE PRICE OF GOLD ($13.65.)

The new non active September contract month saw it’s OI FELL BY 0 contracts REMAINING AT 484. We had 0 notices filed UPON YESTERDAY so we LOST 0 contracts or an additional NIL oz will not stand for delivery in this non active month of September. We had 0 EFP’s ISSUED FOR SEPTEMBER which entitles them to a fiat bonus plus a deliverable contract on a different exchange and most likely that would be London. These are private deals so we do not get to see the makeup of these deals only the number of EFP’s issued.
The next active contract month is Oct and here we saw a LOSS of 8524 contracts DOWN to 6.131 WITH ONE DAY TO GO BEFORE FIRST DAY NOTICE FRIDAY SEPT 29..

The November contract saw A GAIN OF 46 contracts UP to 1177.

The very big active December contract month saw it’s OI LOSS OF 4684 contracts DOWN to 428,428.

We had 484 notice(s) filed upon today for 48400 oz

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And now for the wild silver comex results. Total silver OI FELL BY 1909 CONTRACTS FROM 186,906 DOWN TO 184,997 WITH YESTERDAY’S GOOD SIZED 24 CENT FALL IN PRICE. WE HAVE HAD CONSTANT TORMENT FROM THE BANKERS THESE PAST 13 DAYS, AND IT CONTINUED TODAY AS WE STILL HAVE OPTIONS EXPIRY ON OUR LONDON/OTC TO DEAL WITH AND THEY EXPIRE AT 9- 10 AM FRIDAY MORNING. HOWEVER OUR LONGS REMAIN RESOLUTE DETERMINED TO TAKE ON OUR BANKERS AS A TINY FRACTION OF SILVER LEAVES LEFT THE SILVER THEATRE. WE MUST HAVE HAD SOME BANKER SHORTS COVERING. WE AGAIN WITNESS THE AMOUNT STANDING FOR SILVER DELIVERY INCREASE AND THIS TIME BY 135,000 OZ. WE HAVE BEEN WITNESSING THIS PHENOMENA FOR THE PAST 5 MONTHS. (SEE BELOW).
RESULT: A SMALL DECREASE IN OI AT THE COMEX WITH A 9 CENT LOSS IN PRICE. DEMAND FOR PHYSICAL SILVER RISES AGAIN AS THE AMOUNT STANDING INCREASES FOR THE SEPT CONTRACT MONTH BY 135,000 OZ.SILVER DEMAND REMAINS EXTREMELY STRONG/THE RAID ALL WEEK LONG HAD NEGLIGIBLE EFFECT ON OUR RESOLUTE LONGS. WE MUST HAVE HAD SOME SMALL NUMBER OF BANKERS COVER THEIR SHORTS WITH THE RISE IN SILVER PRICE
We are now in the active contract month of September (and the last active month until December). Today we witness Sept. OI LOSE 51 contacts DOWN to 37. We had 78 notices filed yesterday, so we again gained 27 contracts or an additional 135,000 oz will stand for delivery. This phenomenon has been happening in silver for the past 5 months whereby the amount standing increases on each and every delivery day. This queue jumping highlights the huge demand for silver that we have been witnessing around the globe. The next non active contract month for silver after September is October and here the OI LOST 104 contacts DOWN TO 918. November saw a GAIN of 70 contract(s) and thus RISING TO 201. After November, the NEXT big active contract month is December and here the OI LOST 2002 contracts DOWN to 146,207 contracts.

We had 37 notice(s) filed for 185,000 oz for the SEPT. 2017 contract

VOLUMES: for the gold comex

ESTIMATED VOLUME TODAY: 275,115 CONTRACTS / GOOD

YESTERDAY’S confirmed volume was 412,4110 which is EXCELLENT

volumes on gold are STILL HIGHER THAN NORMAL!

FINAL standings for SEPTEMBER
Sept.28/2017.

Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
64,300.00 oz
Scotia
2000 kilobars
No of oz served (contracts) today

484 notice(s)
48,400 OZ
No of oz to be served (notices)
0 contracts
(NIL oz)
Total monthly oz gold served (contracts) so far this month
577 notices
57700 oz
1.7947 tonnes
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month 39,990.7 oz

Today we HAD 1 kilobar transaction(s)/
WE HAD 0 DEALER DEPOSIT:
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 1 customer deposit(s):
i) Into Scotia: 64,300 oz (2000 kilobars)
64300.00 oz (dubious)
total customer deposits; 64,300.00 oz
We had 0 customer withdrawal(s)
total customer withdrawals; nil oz
we had 0 adjustment(s)
For SEPT:
Today, 0 notice(s) were 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 484 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 49 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

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To calculate the FINAL total number of gold ounces standing for the SEPTEMBER. contract month, we take the total number of notices filed so far for the month (577) x 100 oz or 57700 oz, to which we add the difference between the open interest for the front month of SEPT. (484 contracts) minus the number of notices served upon today (484) x 100 oz per contract equals 57,700 oz, the number of ounces standing in this active month of SEPT.

Thus the FINAL standings for gold for the SEPTEMBER contract month:
No of notices served (577) x 100 oz or ounces + {(484)OI for the front month minus the number of notices served upon today (484) x 100 oz which equals 57,700 oz standing in this active delivery month of SEPTEMBER (1.797 tonnes)
We LOST 0 contracts OR AN ADDITIONAL NIL OZ WILL STAND FOR GOLD and 0 EFP’s were issued for September which gives the long holder a fiat bonus plus a deliverable product on another exchange and that most likely will be London. IT IS OBVIOUS THAT THERE IS HARDLY ANY GOLD TO DELIVER UPON LONGS IN SEPTEMBER. THUS THE CROOKS USE THE EFP’S TO TRANSFER THEIR OBLIGATION TO ANOTHER EXCHANGE. THIS IS WHY OVER 7400 EFP’S WERE ISSUED FOR OCTOBER THIS PAST FRIDAY.
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Total dealer inventory 692,502.452 or 21.54 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,761,405.917 or 272.516 tonnes

I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of 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 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 at MF Global.

IN THE LAST 13 MONTHS 81 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE SEPT DELIVERY MONTH
September FINAL standings
Sept 28 2017

Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
nil oz
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
1,200,604.08 oz
CNT
No of oz served today (contracts)
37 CONTRACT(S)
(185,000 OZ)
No of oz to be served (notices)
0 contracts
(NIL oz)
Total monthly oz silver served (contracts) 6575 contracts (32,875,000 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 6,505,871.2 oz

today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil oz
we had 0 customer withdrawal(s):
TOTAL CUSTOMER WITHDRAWALS: nil oz
We had 1 Customer deposit(s):
i) Into CNT: 1,200,604.08 oz
***deposits into JPMorgan have stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
total customer deposits: 1,200,604.08 oz

we had 2 adjustment(s)
i) Out of Brinks: 325,091.770 oz was adjusted out of the dealer and this landed into the customer acct of Brinks
ii) Out of CNT: 739,798.081 oz was adjusted out of the dealer and this landed into the customer account of CNT
The total number of notices filed today for the SEPTEMBER. contract month is represented by 37 contract(s) for 185,000 oz. To calculate the number of silver ounces that will stand for delivery in SEPTEMBER., we take the total number of notices filed for the month so far at 6575 x 5,000 oz = 32,875,000 oz to which we add the difference between the open interest for the front month of SEPT (37) and the number of notices served upon today (37) x 5000 oz equals the number of ounces standing.

Thus the FINAL standings for silver for the SEPTEMBER contract month: 6575 (notices served so far)x 5000 oz + OI for front month of SEPTEMBER(37 ) -number of notices served upon today (37)x 5000 oz equals 32,875,000 oz of silver standing for the SEPTEMBER contract month. This is excellent for this active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver demanded daily increase right from the get go. (ON AUGUST 31 (FIRST DATE NOTICE) WE HAD 20.15 MILLION OZ STAND. THUS IN THE FIRST 28 DAYS OF SEPTEMBER, WE HAVE HAD A HUGE INCREASE OF 12.8 MILLION OZ STAND FOR DELIVERY AS DEALERS JUMP QUEUE TRYING TO FIND THE NECESSARY SILVER TO SUPPLY TO OUR LONGS.)

WE HAD AN INCREASE OF 27 CONTRACTS OR AN ADDITIONAL 135,000 OZ OF SILVER WILL STAND FOR DELIVERY IN THIS ACTIVE CONTRACT MONTH OF SEPTEMBER. THIS HAS BEEN THE 5th CONSECUTIVE MONTH THAT WE HAVE WITNESSED EITHER AN INCREASE (95% OF THE TIME) OR STANDING PAT (THE OTHER 5%). WE HAVE NOT HAD A DECREASE IN STANDING I.E. AS THEY DELIVERY MONTH PROCEEDS NOBODY WISHES AN EFP PRODUCT IN EXCHANGE FOR A DEPARTING LONG.SOMEBODY BIG WANTS SILVER IN A VERY BIG WAY.
Last yr on the first day notice for the Sept silver 2016 contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/

Volumes: for silver comex
ESTIMATED VOLUME TODAY: 64,532 CONTRACTS: (HUGE)
YESTERDAY’s confirmed volume was 87,128 contracts which is EXCELLENT
YESTERDAY’S CONFIRMED VOLUME OF 87,128 CONTRACTS WHICH EQUATES TO 435 MILLION OZ OF SILVER OR 63% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.

Total dealer silver: 37.610 million (close to record low inventory
Total number of dealer and customer silver: 219.978 million oz
Interestingly enough for the non active delivery month of August we had 6,245,000 oz stand and in Sept 32,875,000 oz stand for delivery for a total of 39,120,000 oz. These oz should have been first removed from the dealer account and settle into the customer account. This obviously did not happen. If all of those deliveries wanted to sell their silver then they would receive a warrant and the silver would be classified as registered or for sale. For years we have not seen any evidence of settling for physical in either gold or silver.
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44
end