Is Silver Getting Ready To Rip Higher? – Dave Kranzler

TND Guest Contributor:  Dave Kranzler

The big buzz yesterday in the precious metals market was the news that Deutsche Bank has agreed to settle charges for its role in manipulating the London Bullion Marketing Association (LBMA) daily gold/silver price fixings. My view on this, albeit admittedly jaded, is that it is akin to the settlement charges being paid by the big Wall Street banks for their fraudulent behavior in the housing bubble mortgage market. Although Deutsche Bank has agreed to “spill the beans” on other banks, I have yet to hear any mention of JP Morgan, Citibank, Goldman Sachs or any number of other western bullion banks who engage in daily price intervention in the gold and silver futures market on the Comex.silver bull

My view on the matter is that until I see otherwise, this is nothing more than a “we took care of the problem, move along there’s nothing else to see here” situation. DB is like a trapped felon who blinked in the game of “Prisoner’s Dilemma” and gave up a couple of names in order to let it continue forward in its endeavor to save itself from collapse. While other indictments may be doled out, I do not see this as an advancement in the effort to reform the trading activity in the gold and silver markets. After all, the banks are manipulating the market on behalf of the western Central Banks and Governments who are highly motivated in their effort prevent a sustained rise in the price of gold from signaling the west’s continued financial and economic deterioration.

While the Deutsche Bank announcement may trigger some celebratory dances in the precious metals community, rest assured that for every bank removed from its gold/silver market manipulation service, they will be replaced by banks “sitting on the bench.”  The “reformed” LBMA gold fix process is proof of concept.  The prima facie format has been somewhat altered, as have the names involved.  But it can be argued that the “reformed” price fix process is perhaps even more permissive of manipulation than the old format.

The more interesting issue in my opinion is whether or not the bullion banks’ ability to keep the price of gold and silver capped with any relative degree of success is fading. History has proved that all forms of market intervention eventually fail.  If the intervention in the precious metals market did not ultimately fail, it would be a statistically unique event.  I would have the readers recall the fact that the Rothschild family, which founded the London gold fix, withdrew from its involvement and connection to the LMBA, including the twice-daily fix process, in 2004.  Something like this happens for a reason…


It’s been my view that silver hit a bottom in mid-December when the Comex silver contract closed at $13.72.  The bottom was affirmed the day that silver was instantaneously plunged down to $13.58 for the purposes of the LBMA price fix and the futures immediately thereafter snapped back over $14.   That was perhaps the most audaciously blatant act of manipulation that I’ve witnessed in any market in over 30 years of involvement in all aspects of the financial markets.  I also believe it was a last-ditch capitulative effort of sorts by the bullion banks.  And, of course, the LBMA never did offer an explanation for the egregious price anomaly.

Since mid-January the price of silver has been uncharacteristically “buoyant,” especially in relation to the price-action in gold.  In general, silver outperforms gold on days when gold is being successfully manipulated lower and, in general, it outperforms gold on rally days.

I’m not an adamant technician or chart-reader, but the two graphs below are suggestive of a market that is ready to make make a big move higher:

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The graph on the left is a 2-yr daily of Comex silver. It appears to have carved out a nice bottom and it has broken out above both its 50/200 dma’s after successful “re-tests” of each.   The graph on the right is 16-year weekly that goes back to the beginning of the secular bull market in the precious metals.  After the big move up from 2008-2011, silver (manipulatively) pulled back a 16-year uptrend line and bounced.

Whether or not this is nothing more than a short-term bounce or the start of the next big move higher remains to be seen.  I have told colleagues since the beginning of the year that I won’t break out the first case of champagne until silver trades above $20 and moves higher from there.  Certainly the systemic fundamentals which support much higher prices for gold and silver grow stronger everyday.

Having said that, I remain firm in conviction that silver will be the best performing asset class at least through the rest of this decade.  I also am growing more confident that both gold and silver are set up to make a big move higher over the next several months.

The latest issue of the Mining Stock Journal was released last night.  In addition to providing what I believe is somewhat unique insight on the precious metals market, I present a junior mining stock that has been overlooked by the market.  After an extensive conversation with the CEO last week, I don’t think this stock will remain overlooked much longer.   You can access this report here:  Mining Stock

http://thenewsdoctors.com/is-silver-getting-ready-to-rip-higher-dave-kranzler/


The Economy: “China Says ‘No Dollars’ For New Yuan”

“China Says ‘No Dollars’ For New Yuan”
“In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency.
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Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets. But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been “staggering.” And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade: The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold. Which currency would YOU use?
When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars. But they won’t be able to dump them to China for the new gold-backed, Yuan! China has reportedly decided “there can be no conversion of gold-backed Yuan to or from US dollars.” What China fears is that many countries around the world will want to trade their reserve US dollars  for the new Yuan, leaving China with mountains of worthless US dollars. China already has several trillion in US dollar reserves and does not want or need more.
If news of this decision by China is correct, then countries around the world may just have to decide whether or not they wish to continue trading with the USA at all? The upheaval this could cause as early as next week, would be staggering. This is a fast-developing story; check back.”

Global oil glut leaves supertankers in a huge jam

It may be the world’s biggest traffic jam.

As ports struggle to cope with a global oil glut, huge queues of supertankers have formed in some of the world’s busiest sea lanes, where some 200 million barrels of crude lies waiting to be loaded or delivered.

The vessels, filled with oil worth around $7.5 billion at current market prices, would stretch for almost 40 km (25 miles) if formed up in one straight line.

image: http://www.trunews.com/wp-content/uploads/2016/02/iran-oil1-300×179.jpg

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Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, January 25, 2016. REUTERS/Sergei Karpukhin


One captain with more than 20 years at sea told Reuters his tanker had been anchored off Qingdao in northeastern China since late March and was unlikely to dock before the end of this week, a frustrating delay of more than three weeks.

“We’ve stayed here a long time,” he said, requesting anonymity because he is not authorized to speak to the press, but added that another kind of jam was helping to alleviate the boredom.

“We have a piano, drums, crew who play guitar – they are not professional but they are coming good. We have more than 1,000 DVDs so there is no need to watch the same one 20 times.”

The worst congestion is in the Middle East, as ports struggle to cope with soaring output available for export, and in Asia, where many ports have not been upgraded in time to deal with ravenous demand as consumers take advantage of cheap fuel.

“It’s the worst I’ve seen at Qingdao,” said a second tanker captain waiting to offload at the world’s seventh busiest port, adding that his crew was killing time doing maintenance work.

Ralph Leszczynski, head of research at shipbroker Banchero Costa, in Singapore, said the snarl-up was “one of the worst tanker traffic jams in recent years”.

The cause was “a perfect storm of red-hot demand from new entrant refineries in China and port infrastructure in the Middle East and Latin America that is unable to cope”, he said.

MESSING UP THE SCHEDULE

Ship tracking data shows 125 supertankers, with the capacity to carry oil to supply energy-hungry China for three weeks, waiting in line at ports. The combined daily cost is $6.25 million, based on current ship hire rates of around $50,000-a-day.

While daily tanker fees are typically borne by the fuel buyer, the port delays have a knock-on affect across the shipping industry.

“It messes up port schedules, catering schedules, crew schedules and the schedules of delivering the transported goods,” said one shipping logistics manager in Singapore. “It also raises the cost for pretty much everyone involved.”

And for dealers, a month-long delay can turn a profitable trade into a painful loss.

“If you’ve bought 100,000 barrels of crude at $40 (a barrel) that’ll cost you $4 million,” said one oil trader.

“And if you’ve calculated another 1.5 million bucks for a month’s worth of shipping, but you end up paying double that because your ship is stuck in port congestion, then that can seriously mess up everything from your schedule to your arbitrage profitability.”

At the heart of the congestion is an unprecedented rise in global oil production, along with rising consumption.

Soaring output has pulled down oil prices by as much as 70 percent since 2014. That has helped spur demand from China’s independent refiners, freed from government restrictions on imports just last year and gorging on plentiful crude, putting extra pressure on ports.

DRY SHIPS, BORED CREWS

The oil glut is also causing congestion between the main producer and consumer hubs.

Almost all supertankers heading to Asia pass by Singapore or adjacent facilities in southern Malaysia, the world’s fuel station for tankers and also a global refinery and ship maintenance hub.

Shipping data shows that some 50 supertankers are currently anchored in or close to Singaporean waters for refueling, maintenance or waiting to deliver crude to refineries or be used as floating storage.

For sailors stuck a queue of anchored tankers, one of the biggest problems is simply wiling away the time.

“Some of the ships are well-equipped for their crews, but many aren’t,” said a Filipino sailor who left a very large crude carrier (VLCC) in March after a voyage to China.

“On my last one, we had no regular internet … only an old TV with a couple of old DVD movies. The food is terrible and while waiting to offload we did pretty hard maintenance work. The sort of stuff you can’t do when the engine is running.”

Captain Alan Loynd, who spent more than 25 years at sea and is now a marine consultant, said long port delays were rare, but could be tedious and isolating when they happened.

And unlike in previous eras, having a couple of beers to break the monotony is usually out of the question.

“The chances of getting ashore are remote,” he said. “A lot of ships are now dry, so there’s no alcohol on board.”

Read more at http://www.trunews.com/global-oil-glut-leaves-supertankers-in-a-huge-jam/#A1wVq346OCYdfeqt.99


Vitamin B17, Known As Laetrile and Amygdalin, Kills Cancer — Available Over The Counter

Vitamin B17, better known as Laetrile or amygdalin, is a powerful natural cancer treatment that has been proven to kill both prostate and cervical cancer cells. Laetrile is derived from amygdalin, a natural substance found in raw nuts and the kernels of fruits such as apricots and peaches. The healing properties were so effective that Big Pharma became alarmed to the point that they eventually stepped in and pressured the FDA to ban its use in the United States. However, it is still available online under the name vitamin B17. Laetrile contains an enzyme known as Emulsin that breaks down into cyanide when ingested. It is this chemical reaction that is responsible for Laetrile’s cancer-fighting properties. The most common form of laetrile, or vitamin B17, is derived from apricot seeds as these contain a large amount of the active ingredient that kills cancer. Apricot seeds are available for purchase from health food stores and online; however, as they contain compounds that break down into cyanide it is important to only use them medicinally under the supervision of a trained health practitioner who is familiar with their effects.

History of Laetrile

Raw nuts such as bitter almonds and apricot seeds have been used as a natural medicine for thousands of years. Their use has been documented in Traditional Chinese Medicine, ancient Egyptian medicine and they were even used by Native American tribes. Amygdalin was first isolated in 1830 and was later used as a treatment for cancer in the US and many other countries. Due to the presence of cyanide, a safer, non-toxic version was created in 1952 by Dr. Ernst T. Krebs Jr. He discovered a new way to isolate amygdalin from fruit kernels and created a chemically-modified version of the active ingredient which came to be known as Laetrile.

How It Works

Laetrile and the pure form amygdalin contain a substance that breaks down into cyanide when it comes into contact with cells in the human body. Normal, healthy cells have a natural defense against this process. Healthy cells contain an enzyme known as rhodanese, which promotes the combining of cyanide molecules with sulfur. This combination then becomes a cyanate, a harmless substance that is expelled from the body through urine. The level of cyanide produced from taking Laetrile is so low that the body can easily cope with it and render it harmless. Cancer cells do not have any defense against cyanide. They contain an enzyme called beta-glucosidase that causes Laetrile molecules to release both cyanide and benzaldyhide. This powerful combination completely destroys the cancer cell. Unlike conventional cancer treatments, Laetrile has the ability to destroy cancer cells without harming the body’s healthy cells.


Why The FDA Banned Laetrile

According to the FDA, several deaths have been attributed to Laetrile. However, actual details of these cases do not seem to exist anywhere in public record. A clinical trial on the effectiveness of Laetrile against cancer cells was conducted at the Sloane-Kettering Cancer Institute and stated that Laetrile was ineffective against cancer and caused symptoms of cyanide toxicity in patients. Many medical experts including the former PR manager of Sloane-Kettering have questioned the validity of this trial and accused the researchers of burying evidence. As Laetrile is derived from a natural substance found in plants, it cannot be patented. Successfully treating cancer patients with a natural substance would mean the loss of billions of dollars every year for Big Pharma, who still advocate the use of toxic chemotherapy drugs against cancer. The only way to prevent this is for the large pharmaceutical companies to pressure the FDA to ban any natural medicines that have the potential to replace expensive cancer therapies.

Clinical Evidence to Support the Use of Laetrile as a Cancer Treatment

There have been a number of studies performed in the US on the effectiveness of Laetrile against cancer…READ MORE HERE: http://www.jbbardot.com/vitamin-b17-known-as-laetrile-kills-cervical-and-prostate-cancer-available-over-the-counter/