WAR OF WORDS ESCALATE WITH RESPECT TO NORTH KOREA AND THE USA/CHINESE RELFLATION TRADE JUST HIT A BRICK WALL/ TALKS BETWEN THE UK AND THE EU ON SETTLEMENTS TALK NOT GOING WELL AT ALL/RIOTS ERUPT IN BRAZIL

from Harvey Organ:

VENEZUELA IN UTTER CHAOS AS THEY RAISE MINUMUM WAGE BY 60% AND START HANDING OUT FREE HOMES/CONGRESS REACHES DEAL TO KEEP GOVERNMENT GOING UNTIL SEPT 30: NOW FACE THE DREADED DEBT CEILING IN JUNE/THE HOUSE WILL TRY ON WEDNESDAY TO PASS ANOTHER VERSION OF THE HEALTH CARE BILL/THE DAYS ARE NUMBERED FOR PUERTO RICO AS THEIR TEMPORARY 1 YR HALT TO BANKRUPTCY PROCEEDINGS IS COMING TO AN END

In silver, the total open interest FELL BY 3,746 contracts DOWN to 196,015 WITH THE LOSS IN PRICE ( 11 CENTS) SILVER TOOK WITH RESPECT TO FRIDAY’S TRADING. FOR THE PAST FEW YEARS WE HAVE NOTICED THAT THE OPEN INTEREST IN AN ACTIVE MONTH COLLAPSES AS WE APPROACH FIRST DAY NOTICE. WE NOW KNOW THAT THE MAJORITY OF THE LIQUIDATION RECEIVE AN EFP CONTRACT IN A FUTURE MONTH PLUS FIAT BONUS. WE HAVE BEEN WITNESSING THIS SAME PATTERN NOW FOR AT LEAST THE LAST COUPLE OF YEARS. i THINK WE HAD NEGLIGIBLE SHORT COVERING BY THE BANKS. In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.980 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 757 NOTICE(S) FOR 3,785,000 OZ OF SILVER

In gold, the total comex gold FELL BY 4392 contracts DESPITE THE RISE IN THE PRICE OF GOLD ($2.40 with FRIDAY’S TRADING). The total gold OI stands at 470,787 contracts.

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