Harvey Organ: $2,000 Gold Price At Launch Of Chinese Oil-For-Gold Contract

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Harvey had previously said to look to October 18th for the launch of the oil-for-gold-backed-yuan contract. Now, he’s looking at $2,000 for the price of gold…


Harvey Organ of Harvey Organ Blog

OCT 9/GOLD AND SILVER ADVANCE: GOLD UP $8.00 AND SILVER IS UP 23 CENTS/COMEX GOLD OPEN INTEREST FALLS BY OVER 2,000 CONTRACTS BUT SILVER DOES THE REVERSE AS SILVER LONGS REFUSE TO BUDGE/TRUMP IN A SHOUTING MATCH WITH BOB CORKER WHICH WILL SEAL THE DEATH OF TAX REFORM/TRUMP HINTS AT WAR WITH NORTH KOREA/TOMORROW IS A BIG DAY FOR CATALONIA SPAIN/RELATIONS BETWEEN THE USA AND TURKEY AT AN ALL TIME LOW WITH ARRESTS WITH RESPECT TO EMBASSY OFFICIALS FROM BOTH COUNTRIES/

In silver, the total open interest SURPRISINGLY ROSE BY A STRONG 1979 contracts from 184,165 UP TO 186,144 WITH RESPECT TO FRIDAY’S TRADING (UP 10 CENTS). THE CROOKS TRIED TO COVER AS MUCH OF THEIR SILVER SHORTS AS POSSIBLE YESTERDAY BUT IT LOOKS LIKE THEY HAD NO SUCCESS..SO THEY TRIED ANOTHER RAID ON FRIDAY BUT THEIR PLAN WAS FOILED WITH THE NEWS THAT NORTH KOREA WAS PLANNING ANOTHER LONG RANGE MISSILE CAPABLE OF HITTING THE WEST COAST OF THE USA.
RESULT: A GOOD SIZED RISE IN OI COMEX WITH THE 10 CENT PRICE RISE AND CONSTANT TORMENT. IT SURE LOOKS LIKE OUR BANKERS FAILED AGAIN IN THEIR ATTEMPT TO COVER MUCH OF THEIR MASSIVE SILVER SHORTFALL SO ANOTHER RAID WAS ORCHESTRATED FRIDAY MORNING BUT THAT FAILED AS WELL ON THE NORTH KOREAN NEWS.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.931 BILLION TO BE EXACT or 133% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 5 NOTICE(S) FOR 25,000 OZ OF SILVER.

In gold, the open interest FELL BY A MUCH LARGER THAN EXPECTED 2,591 CONTRACTS DESPITE THE RISE in price of gold ($1.60 ) . The new OI for the gold complex rests at 514,151. OUR BANKER FRIENDS WERE MILDLY SUCCESSFUL IN COVERING SOME OF THEIR GOLD SHORTS. THE BANKERS WERE REACHING FOR CAPITULATION ON FRIDAY BY CAUSING ANOTHER HUGE RAID ON GOLD AND SILVER BUT THAT WAS FOILED ON NEWS THAT NORTH KOREA WAS PLANNING ANOTHER LONG RANGE MISSILE LAUNCH.
Result: A GOOD SIZED DECREASE IN OI WITH THE RISE IN PRICE IN GOLD ($1.40)

we had: 0 notice(s) filed upon for NIL oz of gold.

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

GLD:
Tonight , ANOTHER BIG CHANGE in gold inventory at the GLD/ this time A DEPOSIT OF 4.43 TONNES
Inventory rests tonight: 858.45 tonnes.

SLV
Today: ANOTHER BIG change in inventory: ANOTHER DEPOSIT OF 1.227 MILLION OZ
INVENTORY RESTS AT 326.898 MILLION OZ

Let us head over to the comex:
The total gold comex open interest FELL BY MUCH LARGER THAN EXPECTED 2,591 CONTRACTS DOWN to an OI level of 514,151 DESPITE THE TINY RISE IN THE PRICE OF GOLD ($1.40 RISE IN FRIDAY’S TRADING). OUR BANKER FRIENDS WERE MILDLY SUCCESSFUL IN THEIR ATTEMPT TO COVER SOME OF THEIR HUGE GOLD SHORTFALL. OCTOBER IS AN ACTIVE DELIVERY MONTH ALTHOUGH IT IS THE WEAKEST IN TERMS OF ACTUAL DELIVERIES AND OPEN INTEREST. WE VISUALIZED THAT THROUGHOUT THE MONTH OF SEPTEMBER, THE CROOKS UTILIZED THE EMERGENCY EFP SCHEME TO TRANSFER OBLIGATIONS OVER TO LONDON. IT THEN STANDS TO REASON THAT IF THE EMERGENCY WAS IN FORCE THROUGHOUT THE MONTH OF SEPTEMBER IT WOULD CONTINUE ON FIRST DAY NOTICE WHEREBY ANOTHER 7200 LONG COMEX CONTRACTS WERE GIVEN 7200 EFP’S. WE HAVE NOW ENDED GOLDEN WEEK WHERE ALL OF CHINA WAS OFF AND AS SUCH EXPECT GOLD TO FIRM UP THIS WEEK WITH CHINA RETURNING TO ACTIVE DUTY PURCHASING OUR PRECIOUS METALS.

Result: a LARGER SIZED open interest DECREASE WITH THE SMALL SIZED RISE IN THE PRICE OF GOLD ($1.40) . BANKERS MILDLY SUCCESSFUL IN THEIR ATTEMPT TO COVER THEIR GOLD SHORTFALL. BANKERS WERE TRYING FOR CAPITULATION IN THE WHACKING OF GOLD BUT THEIR PLAN WAS FOILED WITH NEWS OF NORTH KOREA PREPARING TO LAUNCH A MISSILE CAPABLE OF HITTING THE WEST COAST OF THE USA.

IN SEPTEMBER,CHINA THREW OUT A TRIAL BALLOON LAST MONTH THAT THEY WERE CONSIDERING A YUAN BASED OIL CONTRACT ON THE SHANGHAI EXCHANGE AND THEN THE RECIPIENT OF YUAN WILL ALSO HAVE THE OPTION OF CONVERTING TO GOLD. I NOW STRONGLY BELIEVE THAT THAT IS THE REASON FOR THE CONSTANT TORMENT. THE BANKERS KNOW THAT THEIR GAME WILL BE UP ONCE WE GET A YUAN-PETRO SCHEME WITH A CONVERSION OF YUAN INTO GOLD.

I BELIEVE THE CHINESE WILL INTRODUCE THIS SCHEME AT THEIR BIG 5 YR FORUM BEGINNING ON OCT 18.

I WOULD IMAGINE THAT THE CHINESE WOULD TAKE IN ALL GOLD INITIALLY AT SAY $2,000…AND THE NEW GOLD RECEIVED WOULD BE USED TO SETTLE ON YUAN CASHED. IF 2,000 DOLLARS IS INSUFFICIENT TO RAISE ENOUGH GOLD, THEN FURTHER INCREASES WILL BE THE ORDER OF THE DAY UNTIL EQUILIBRIUM.
THE BANKERS FEARING THIS, HAS ORCHESTRATED HUGE RAIDS THESE PAST 3 WEEKS HOPING TO COVER AS MANY GOLD/SILVER SHORTS AS POSSIBLE.

We have now entered the active contract month of Oct and here we saw a LOSS of 18 contracts DOWN to 220 contracts. We had 15 notices filed yesterday so we LOST 3 contracts or 300 oz will NOT stand for delivery at the comex and 3 EFP notices were given.

The November contract saw A loss OF 161 contracts down to 1395.

The very big active December contract month saw it’s OI LOSS OF 4289 contracts DOWN to 403,283.

We had 0 notice(s) filed upon today for NIL oz

VOLUME FOR TODAY (PRELIMINARY) 201,749 AVAILABLE

CONFIRMED VOLUME FRIDAY: 384,881

And now for the wild silver comex results. Total silver OI ROSE BY 1,979 CONTRACTS FROM 184,165 UP TO 186,144 DESPITE FRIDAY’S TINY 10 CENT RISE IN PRICE. WE HAVE HAD MINIMAL BANKER SHORT COVERING OVER THESE PAST TWO WEEKS AND GAIN ON FRIDAY AS THEIR RAID FAILED AGAIN TO LOOSEN MORE SILVER LONGS FROM THE SILVER TREE. THE BANKERS TRIED ON MORE TIME ON FRIDAY MORNING IN THEIR FINAL ATTEMPT TO RAID BEFORE “GOLDEN WEEK” ENDS IN CHINA. THEIR RAID ATTEMPT FAILED ON NEWS THAT NORTH KOREA WAS PLANNING TO TEST A MISSILE LAUNCH CAPABLE OF HITTING THE WEST COAST OF THE USA.
 

We have now entered the non active contract month of October and here the OI LOST 15 contacts DOWN TO 532. We had 15 notices filed on Friday so we GAINED 0 contracts or AN ADDITIONAL zero oz will stand for delivery. November saw a gain of 8 contract(s) and thus RISING TO 289. After November, the NEXT big active contract month is December and here the OI LOST 207 contracts DOWN to 143,454 contracts.
 

We had 5 notice(s) filed for 25,000 oz for the OCT. 2017 contract