MASSIVE LIQUIDATION OF USA TREASURIES

by Harvey Organ I CAN SAFELY STATE THAT WE ARE HAVING A RUN ON THE GOLD AT THE NY COMEX/ALSO SILVER RUN AT THE SILVER COMEX/HUGE WITHDRAWAL OF 4.41 TONNES OF GOLD FROM GLD HEADING EASTBOUND TO SHANGHAI/HUGE DEMAND FOR GOLD/SILVER COMING FROM INDIA /CHINA DEVALUES THE YUAN ONSHORE AND REVALUES YUAN NORTHBOUND ON OFFSHORE YUAN, CAUSING MASSIVE LIQUIDATION OF USA TREASURIES/BRAZIL DEBT LOWERED BY S AND P TO JUNK/BRAZIL CANCELS BOND AUCTION AS THERE WAS NO BID/GOLD NOWHERE TO BE FOUND IN ENGLAND Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1109.50 up $7.30 (comex closing time) Silver $14.64 up 7 cents. In the access market 5:15 pm Gold $1111.75 Silver: $14.70 Today’s quote from our good friend Dennis Gartman: *Dennis Gartman… “We also note a rising sense of interest on the part of the Gold Bugs that there is a growing dichotomy between deliverable supplies of gold against the COMEX futures and the futures themselves. We do not often allow ourselves to “throw in” with the Bugs, but in this instance there may be something to the speculation.” something stimulated his brain today!! First, here is an outline of what will be discussed tonight: At the gold comex today we had a poor delivery day, registering 1 notice for 100 ounces Silver saw 136 notices for 680,000 oz. Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 218.81 tonnes for a loss of 84 tonnes over that period. In silver, the open interest rose by 308 contracts despite the fact that silver was down in price by 18 cents yesterday. Again, our banker friends tried to use the opportunity to cover as many silver shorts as they could but failed. The total silver OI now rests at 155,923 contracts In ounces, the OI is still represented by .779 billion oz or 111% of annual global silver production (ex Russia ex China). In silver we had 136 notices served upon for 680,000 oz. In gold, the total comex gold OI fell to 417,895 for a loss of 3,837 contracts. We had 1 notice filed for 100 oz today. Last last night we had a huge change in tonnage at the GLD, namely a withdrawal of 4.41 tonnes/ thus the inventory rests tonight at 678.18 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. It sure looks like 670 tonnes will be the rock bottom inventory in GLD gold. 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 will be the FRBNY and the comex. In silver, we had no changes in silver inventory at the SLV /Inventory rests at 322.06 million oz. We have a few important stories to bring to your attention today… 1. Today, we had the open interest in silver rise by 308 contracts up to 155,923 despite the fact that silver was down by 18 cents in price with respect to yesterday’s trading. The total OI for gold fell by 3837 contracts to 417,895 contracts, as gold was down by $18.20 yesterday due to the massive raid orchestrated by our crooked bankers. (report Harvey) 2.Gold trading overnight, Goldcore (/Mark OByrne) 3. Trading overnight from China commencing at 9:30 pm est last night 4. Yuan devalues onshore yet the POBC raises yuan rate offshore, as the central bank tries to bring both rates closer together.This causes huge amounts of USA treasuries to be sold (zero hedge) 5. New oil market in China prices oil in yuan (Examiner.com) 6. Paul Krugman is worried that he may have screwed up Abenomics (Paul Krugman/zero hedge) 7. Russia is building up military support in Syria as the USA is alarmed (2 commentaries/zero hedge/MSN) 8. Brazil’s rating lowered to junk by S and P. Also Brazil cancels bond auction as they may have been shut out of funding (2 commentaries/zero hedge) 9.The Austrian Central bank has now warned it would be the wrong time to raise rates at the Fed, (Austrian Central Bank) 9. Oil related story (one story/zero hedge) 10. USA stories/Trading of equities NY a) Odd trading behaviour at 6:12 am (zero hedge) b) High inventory over sales screams of recession in the USA (zero hedge) c) Weekly jobless claims constant at 275,000 (Reuters/BLS) d) Today’s wrap up with David Stockman on faulty Goldman index used by the Fed 11. Physical stories: Something snapped at the comex again (zero hedge) Gold demand and silver demand rising in India. Gold imports for this year should hit 1000 tonnes and silver 300 million oz (Koos Jansen) Gold nowhere to be found in London (Koos Jansen) Is gold really being drained from NY comex or is the data completely fabricated (Chris Powell/GATA) Gold bars to be used as collateral for expanded SGE trading (GATA/Bloomberg) India starts its gold monetization scheme/it has zero chance of succeeding (Bloomberg/zero hedge) Continue Reading>>>

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