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Voodoo said:
$63 Billion seems like a lot but that's spread around the world and Bonds are priced in big chunks. Wonder what the average trading volume is for say a US 5 year treasury. I think it's more of a signal to the world that it's go time and time to dump the USD.
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I don't disagree but what are the options? Where is the world going to park trillions of dollars. In my mind, that's the real problem, there is nowhere else to go.
 
Cigarlover said:
... Where is the world going to park trillions of dollars. ...
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donald-duck-vault.gif
 


Spot silver should hold the line or rise a few cents through the quad witching today I expect
 
George breaks it all down...

This Globally Systemic Bank Just Went Into Crisis Mode (Derivatives)​

20
 
Are we near the top?

... Consider General Electric Co. (GE), which was one of the non-tech darlings of the late 1990s. Jack Welch, who was regarded as the superstar CEO of the day, demanded that division managers become either No. 1 or 2 in their business lines. If it failed to achieve those goals, the division was either shut down or sold.

Division managers who couldn't make the numbers tried the old trick of financialization: GE would lend a customer money to buy its products and round-tripped the funds to inflate sales. The maneuver worked so well that GE Capital was born. GE Capital, in its efforts to achieve top-two status in its industry, lent to anything that moved. It wasn't just aircraft engines, but emerging-market loans and subprime mortgages. GE Capital became bigger than the industrial divisions of the company and eventually blew up; GE CEO Jeff Immelt announced the divestment of GE Capital in 2014, and eventually its parts were sold off over the next two years.

Today's tech giants are buying equity in companies and round-tripping the funds to boost sales.

It's happening again. Instead of vendor financing, today's tech giants are buying equity in companies and round-tripping the funds to boost sales. Amazon.com Inc.'s (AMZN) investment in Anthropic and Nvidia's investment in CoreWeave are just two of the most visible examples of financialization. ...
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Nvidia and other AI-fueled tech stocks are heading for a 'magnificent exuberance' bubble

www.morningstar.com www.morningstar.com





 
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No Way Financial System Survives - Bill Holter​

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No Way Financial System Survives – Bill Holter | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com (Saturday Night Post) Financial writer and precious metals broker Bill Holter has been documenting all the unpayable debt that has been building up in the financial system like cancer. The latest black hole of default is coming from a big bank in Japan...
usawatchdog.com usawatchdog.com
 
Lie to me more daddy...

Newest Early Jobs Revision Shows No Net Job Growth During 2023​

Newest Early Jobs Revision Shows No Net Job Growth During 2023 [EconTax Blog]

A newly released "early benchmark" of the official state jobs figures shows that payroll jobs declined by 32,000 from September 2023 through December 2023, whereas the official state tally showed growth of 117,000 jobs over that period. With the fourth quarter early revision, calendar year 2023...
lao.ca.gov lao.ca.gov
 
pmbug said:
Over the last few days, there's been a good bit of media reporting on the Japanese Yen and I only gave those headlines a cursory look. Maybe I should have been paying more attention...
... Looks like raising rates is causing some of the "Yen carry trade" to unwind - or at least not to encourage sustained levels.
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Voodoo said:
... Large Japanese bank will be dumping foreign bonds (like you know, ours).

The Music Just Stopped: Japan Banking Giant Norinchukin To Liquidate $63 Billion In Treasuries & European Bonds To Plug Massive Unrealized Losses | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
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...



 
The market is testing Japanese officials... and so far it's winning...

Reaffirming its constant stance of jawboning over actual intervention, Vice Finance Minister Masato Kanda said late Wednesday that the government is watching the yen with a high level of urgency as he described the currency’s latest moves as “rapid” and “one sided.”
...
The yen weakness sent the dollar higher and triggered selling in Gold...

Japan has acknowledged it spent ¥9.8 trillion ($61.3 billion) intervening in currency markets between April 26 and May 29.
...
Data on foreign reserves suggest Japan sold Treasuries to fund these actions.
...
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Yen Tumbles To 1986 Lows After Japanese 'Currency Chief' Comments; Gold, Oil, & Bonds Dump | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

Japan is the largest foreign holder of UST. If they are being forced to sell UST to support the Yen, who is buying the UST?
 
...
The Commerce Department announced on Thursday that U.S. durable goods orders increased 0.1% last month, following April’s downwardly revised 0.2% rise. The data was better than expected as economists were looking for a -0.1% decrease.
...
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www.kitco.com

Gold sets fresh session highs as U.S. durable goods beat expectations in May

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com www.kitco.com

Atlanta Federal Reserve Bank President Raphael Bostic said Thursday that he is sticking with his forecast of one quarter-point interest-rate cut this year, sometime in the October-December quarter.

“Taking all the circumstances into account, I continue to believe conditions will likely call for a cut in the federal funds rate in the fourth quarter of the year,” Bostic said in a new essay published on his regional bank’s website.
...
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...
If conditions unfold as I expect—orderly slowing in the labor market and in economic activity—then inflation should fall all the way to 2 percent in 2025 or perhaps a bit later.

Even as 2 percent is the unquestioned target, it is important to note that inflation need not get all the way to target for me to favor reducing restrictiveness in monetary policy. If the Committee waits that long, it risks sapping too much momentum from the economy and labor market and creating unnecessary and harsh disruptions.

Rather than holding the federal funds rate steady until we are at the target, I would favor reducing the policy rate once I gain additional confidence that we are clearly on the path to the 2 percent objective.

What would provide that confidence? I am looking in particular for progress in shelter prices and services prices more broadly. ...
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www.atlantafed.org

Message from the President: Renewed Hope on Inflation but More Confidence Needed - June 27, 2024

In his new quarterly message, Atlanta Fed president and CEO Raphael Bostic highlights promising signals from the latest inflation reports, but still cautions patience.
www.atlantafed.org www.atlantafed.org
 


Silver in China (SFE/SGE) is rising again - around $33.50/toz currently.
 

'Roaring Kitty' is sued for alleged GameStop manipulation​

NEW YORK, July 1 (Reuters) - Keith Gill, the investor known as "Roaring Kitty" who helped spur the meme stock mania of 2021, was sued by GameStop (GME.N), opens new tab investors who said they lost money through his "pump-and-dump" scheme for the videogame retailer.

A proposed class action accusing Gill of securities fraud was filed on Friday in the Brooklyn, New York federal court.

Investors led by Martin Radev, who lives in the Las Vegas area, said Gill manipulated GameStop securities between May 13 and June 13 by quietly accumulating large quantities of stock and call options, and then dumping some holdings after emerging from a three-year social media hiatus.

More:

 
searcher said:

'Roaring Kitty' is sued for alleged GameStop manipulation​

NEW YORK, July 1 (Reuters) - Keith Gill, the investor known as "Roaring Kitty" who helped spur the meme stock mania of 2021, was sued by GameStop (GME.N), opens new tab investors who said they lost money through his "pump-and-dump" scheme for the videogame retailer.

A proposed class action accusing Gill of securities fraud was filed on Friday in the Brooklyn, New York federal court.

Investors led by Martin Radev, who lives in the Las Vegas area, said Gill manipulated GameStop securities between May 13 and June 13 by quietly accumulating large quantities of stock and call options, and then dumping some holdings after emerging from a three-year social media hiatus.

More:

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Already dismissed. Those who filed are the ones manipulating prices.
 
Looks like spot silver is starting to close the gap with the price in China (SFE/SGE). China price closed at ~$33.30 this morning, so if spot maintains a 10% deficit range, spot should climb to around $30.30. I'm interested to see if it does.
 
The gold market is trading near session highs on Wednesday morning as job creation among private employers slowed for the third straight month, according to private sector payrolls processor ADP.

On Wednesday, ADP announced that 150,000 jobs were created in June. The report was below expectations as consensus forecasts called for job gains of 170,000. May’s figure was also revised upward to 157,000 from the initial reading of 152,000.

“Job growth has been solid, but not broad-based,” said Nela Richardson, chief economist, ADP. “Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month.”
...
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More:

www.kitco.com

Gold at session highs after ADP says 150K jobs were created in June

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com www.kitco.com
 

BREAKING: Unprecedented Moves In The DOLLAR Is Causing Panic​

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Silver closed up a few more cents in China (above $34). Are markets in USA open today?
 
This is a pretty good interview. They also talk about the downside of Bitcoin starting around the 10 minute mark. What he saw as red flags there in the ETF's and promos.

 
The closing price of silver in China (SFE/SGE) increased slightly for the last 3 days in a row. Looks like spot played a bit of catch up today. I posted updated vault totals for June, however, I'm really curious to see what the SGE weekly vault update will show on Monday. The vault flow for SFE has been volatile this week.
 
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