A Finding of Manipulation against Bullion Banks Won’t Stop Manipulation

Ex-Deutsche Bank Trader Pleas Guilty to Fraud Charges in Connections with Precious Metals Market Manipulation.

Ethereum achieves 60% market cap vs. Bitcoin, Daily Ethereum trading value exceeds Bitcoin.

Russia To Develop a National Cryptocurrency.

India Settles on 3% GST on gold, lower than expected 5%.

The Lowest Cost. Period.

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Top stories: Trump tweets “covfefe”, Kathy Gifford shown in photo with beheaded Donald Trump, Bill Maher utters N-Word on live TV, James Comey to testify, Hillary Clinton emerges blames everyone for her loss and MR. Met flips the bird to a fan, loses his job.

Top economic stories Deutsche Bank trader pleads guilty for fraud in connection with precious metals market manipulation. Trader will cooperate and provide evidence against co-defendants.

Distinguish this criminal case brought by the Justice Department and the Commodities Futures Trading Commission and the civil case that Deutsche Bank settled. Deutsche Banks’s alleged co-conspirators (other bullion banks) have not settled and Deutsche, as part of their settlement is working to provide evidence against them.

Also distinguish the criminal case against Deutsche Bank and the precious metals manipulation JP Morgan civil case.

In that case the Judge held that the “plaintiffs did not show that JP Morgan made “uneconomic bids” because they did not provide details on specific trades or names of the JP Morgan counterparties with whom the trades were conducted.” A showing of such details, however, may lead to a ruling in plaintiff’s favor.

In all the above cases if the banks are found guilty/liable it will be because the government/private plaintiffs will be able to show smoking gun evidence of intent.

Uneconomic trades/naked shorts themselves are not actionable evidence of manipulation

Rational: The business judgement rule, eg Time Warner etal

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Gold and silver.

Gold closed last week at $1266.40 an ounce and closed this week at $1279.00 + 0.99%

Silver closed last week at $17.31 an ounce and closed this week at $17.52 +1.2%

The gold and silver ratio ended the week at 73.24:1

Gold Silver Ratio may 31 2017

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Tweets of the Week

Ethereum vs Bitcoin -Microsoft vs Netscape Redux?

Bitcoin’s Titanic Mentality?

From Bitcoin Jesus Roger Ver

Prefered Z cash

Ethereum begins trading on major Chinese Exchanges

Bitcoin vs Ethereum May 30 2017

ETC did a hard fork to fix it now there is ETC classic- a programmer explains

Charts of the Week

Chinese Debt

Here are the stories we wrote, followed or commented on.

May 29, 2017


Australian gold output slumps 8 percent in first quarter due to cyclone, rain

OneGram Launches $500 Million ICO for #Gold-Backed Digital Currency

May 30, 2017


Who is buying all the gold in India?

Hong Kong needs around-the-clock gold trading


Russia And Iran Sign Oil-For-Goods Barter Deal; Escape Petrodollar


Goldman Sachs Bought Venezuela’s State Oil Company’s Bonds Last Week

China expands Belt and Road to the Arctic

US Economic Data

Personal Spending 0.4%, Exp. 0.4%
Personal Income 0.4%, Exp. 0.4%
Core PCE 1.5%, Exp. 1.5%

Case Shiller 20 City Composite 5.9% Y/Y, Exp. 5.7%, Last 5.9%

Consumer Confidence 117.9, Exp. 119.5

Fed Chatter


U.S. Mint Sales Update

U.S. Mint reported selling 200,000 American Silver Eagles and 500 American Gold Eagles today.

MTD American Silver Eagles sold 2,355,000 & American Gold Eagles sold 10,000
YTD American Silver Eagles sold 11,147,500/American Gold Eagles sold 137,000

The U.S. Mint reported selling 5,000 American Gold Buffalo coins.

MTD 5,000 sold

YTD 64,000 sold

The U.S. Mint sold 100 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD Effigy Mounds ATB coins 21,200. The US Mint sold 0 Frederick Douglas National Historical Site ATB coins.

Total YTD ATB coin sales 26,200 Effigy Mounds National Monument coin and 20,000 Frederick Douglas National Historical Site ATB coins. Total 46,200

Check out ATB mintages

Check out ATB mintages

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May 31, 2017

From Smaulgld.com


Report Comes with Video Companion Series.

Buying Options

Tass talks of collapsing the dollar

US Economic Data

MBA Mortgage Applications -3.4%, Last 4.4%

Pending Home Sales -1.3% M/M, Exp. 0.5%; Down -5.4% Y/Y

Chicago PMI 55.2, Exp. 57.0, Last 58.3


Venezuela devaluation

Moody’s downgrades China, warns of fading financial strength as debt mounts BUT CHINA HAS GOLD-DOLLAR COLLAPSE ETC

Fed Minutes

June 1, 2017



US Economic Data

Challenger May Job-Cut Announcements +71.4% Y/Y, to 51,682
Initial Claims 248K, Exp. 238K
ADP 253K, Exp. 180K (bu big cuts in auto/retail)

Markit US Mfg PMI 52.7, Exp. 52.5
ISM Mfg 54.9, Exp. 54.8
U.S. April Construction Spending Fell 1.4%; Est. Up 0.5%

Hedge Funds Pile Into Gold At Fastest Pace Since 2007

Russia – Topping up gold reserves not a priority


Fed Chatter

Fed’s Williams bullish on U.S. economy, sees total three rate hikes this year

June 2, 2017

From Smaulgld.com


Gold and Silver Manipulation
Trader pleas guilty


Deutsche Bank Trader Admits To Rigging Precious Metals Markets
https://bloom.bg/2qOsw9b bloomberg


US Economic Data

May Payrolls 138K, Exp.180K
March from 79K to 50K
April from 211K to 174K

Average Hourly Earnings 0.2%, Exp. 0.2%

June 3, 2017

India settles on 3% GST for gold -lower than the 5% expected.

Council to meet on Saturday to finalise GST rate on #gold http://economictimes.indiatimes.com/news/economy/policy/council-to-meet-on-saturday-to-finalise-gst-rate-on-gold/articleshow/58959803.cms

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Compare American Silver Eagles for sale at:

Golden Eagle Coins
SD Bullion
Money Metals Exchange

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You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:

Golden Eagle Coins
SD Bullion
Money Metals Exchange

Check out ATB mintages

Compare American Silver Eagles for sale at:

Golden Eagle Coins
SD Bullion
Money Metals Exchange


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