Live Ammo in France! All we need now is an idiot!
Good Christmas Eve Morning Everyone,
Gold is trading higher with its value at $1,265.30, up $7.20 after reaching a high of $1,268.60 before the British brakes were applied with the low of the day right at the start at $1,260. Silver is following, if you can call it that, with its trade barely up 3.8 cents at $14.74, close to its low at $14.715 and after it reached a high of $14.83 before it too was stopped. The US Dollar’s trade is working lower with its value at 96.265, down 19 points within a trading range between a high at 96.44 and a low at 96.18, all this done sometime way before 5 am pst. The Venezuelan Bolivar now has Gold’s price at 12,637.18, gaining 59.92 Bolivar over the weekend with Silver losing 1/10th of a Bolivar under the same circumstances.
The December Silver Delivery count remains unchanged at 111 obligations waiting for receipts between here and London and with zero Volume on the board so far, that is until later today when they finally update what should be available at an instant. The Overall Silver Open Interest did fall just a little with the count now at 174,547 overnighters as 41 slipped off the board as we wait for Silver to do what Gold is doing, making new highs over the past few months.
It looks like the FRENCH police shockingly levelled live firearms at the Yellow-Jacket demonstrators protesting over Macron’s austerity measures showing just how deeply the French government is (intentionally) descending the masses into anarchy. France may be the starting of the end of the EU and we wonder if Santa is going to be shot at tonight? All it takes is one idiot with ammo, and we enter into another level of revolution.
Not only is the French population in the middle of eradicating its “failed to represent the peoples” government, but Britain and the rest of the EU is equally as troublesome as the politics of Brexit is descending into chaos. (In fact), The entire European Union is fragmenting into northern, southern, eastern, and western tribes. And now the Franco-German marriage at the center of the European project is in danger of falling apart. It’s all coming down right before our eyes, and still, we have nothing but calm in the precious metals (for now).
If that wasn’t enough to cause one to add much more libations to their Eggnog, Mnuchin called the banks CEOs over the weekend to check for liquidity issues, and has a Monday call with the world famous “Plunge Protection Team”. What a team it is! This group has no records of any conversations or actions taken, past or present, ever since its inception in 1988. Just add Trump (with A. Jackson’s portrait in the oval office) and Q’s Gold comment, and we have a “what can go wrong?” moment.
Today is hardly a day to call a trading day, but it is part of our world and it too has to be dealt with. So enjoy this holiday regardless, keep your precious metals and loved ones close, keep a positive attitude no matter what, and as always …
Stay Strong!
J. Johnson