but it's close to it to say it's structured similar to it but who will use the domestic industry they ask in this article in reuters well china has opened more than six thousand trading accounts including the country's oil majors and about one hundred fifty brokerages ten foreign intermediaries have registered including j.p. morgan benz financial straits financial services and other hong kong based in philly it's of domestic brokerages it will likely attract however mainly mom and pop speculative investors who dominate the country's other often volatile commodity futures markets from dates to iron ore through although transaction fees for crude are relatively higher so they're predicting it's going to be the mom and pops speculating on this. enormous buying power and they do affect prices on the margin you know we know in japan for example the mrs wants an army the housewife prototype archetype is the one who drives pricing in that in those markets and for ex the so

here you've got an enormous population online traders who can on the margins to you know move prices up and down so this is and then enormous population of many hundreds of millions of traders by the way foreign investors can participate you have to open a nonresident bank account so if you want to compete with the mom and pop speculators in china you're welcome to go there apparently but you know they mention j.p. morgan and i want to turn to this headline and. shows again i had just mentioned blah chain and what sort of transparency block chain could introduce to these commodity markets because j.p. morgan has this massive silver position and everybody's talking about it but do they really have a massive silver position we don't know however here's a headline from zero head and it's regarding john butler who is a well known commodities guy and he's written many books and does a lot of research well so. prices to surge j.p.

morgan has acquired a massive quantity of physical silver j.p. morgan continues to accumulate the biggest stockpile of physical silver in history j.p. morgan now holds more than one hundred thirty three million ounces more than held by the hunt brothers according to john butler silver hoard owned by j.p. morgan has increased from zero ounces in two thousand and eleven to one hundred twenty million ounces today money managers showing more optimism towards silver through record buying near impossible to rule out an upside price surprise at any moment this is from marco burns. gold core outfit and they were posting on zero hedge so we need to get into this with some of the actual you know david morgan he's a guy who would know yeah i think we're going to talk to him in the second half ali yes but i mean that this notion of of of whether or not these commodity markets and whether or not they could be rigged or whether or not they're going to drive prices or change fundamental outcomes or crass dollar all these sort of things

a lot of it has been disproven by the fact that we're ten years into it and it didn't happen we had shanghai gold and futures markets the silver and gold futures markets there that hasn't seemingly changed anything silver and gold are still at the same price that they were in those launch in shanghai so whether or not this oil market futures will change anything to the u.s. dollar the petro dollar it's remains to be seen and no one loves a good story though and that's what separates us from the animals as mentioned when we come back we'll be talking with david morgan about silver don't go away. then what i recommend you let michael go up. or you will pull you out of the. mountains i'm going to bet and i didn't but we will because the good news is the.

or know when to hold. on a professional. to. keep it or don't or don't let you come up to the group. come on then your mouth and going about all on live and i'm mad at the government the minimum time because i'm. not bad with the intent of but oh november a bit if i say i love them they're down to the point about anonymous but i'll be all beings has it and is about. joining me everything on me all excited i'm sure when i'll be speaking to guest of the world of politics sport this list i'm sure most i'll see of that.

pranking gave americans a lot of job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could make fifty thousand dollars a year truck. driver truck people rush to a small town in north dakota was an unemployment rate of zero percent like gold rush is very very similar to. this beautiful story and with pollution and devastation a lot of people have left here i don't know too many people here and the slow down so much the last jobs that laid off the american dream is changing that's not what it used to be. it's a tough reality. with was. the easy

win. with the. was it was the lives. welcome back to the kaiser report imax keyser time now to turn to david morgan he's in the pacific northwest david morgan of the morgan report dot com david welcome back to the kaiser report. kids who know how to be down thank you. yeah well let's get into sober now j.p. morgan our friend our nemesis j.p. morgan apparently they've got a whole lot of silver that's what we're hearing at least according to many headlines now how much do they have according to this headline that we've been

reading and how much do they really have according to david laurie m. that's impossible to determine the absolute about what the fact is that they have about a hundred and thirty five million ounces of silver currently and that's basis reporting requirements from the c.m.a. so right now as of today if you morgan has five million one hundred twenty two thousand ounces of silver in the registered category the register category is what they own outright at g p or they can you know move in and out there will also have in their warehouse one hundred thirty three a call eight hundred thirty four million ounces of silver which is the eligible category which is generally long term investors that have trusted j.p. morgan to hold their silver so you cannot sell any of the eligible category intil

the owner of that silver signs with the form basically that says i want to so much silver going on the markets all at this price or sol at the market or whatever so the total is one hundred thirty nine million ounces one hundred seventeen thousand five hundred eighty two out of silver own in that category j.p. morgan but again i wanted to find that most of that is the eligible category and most of us know that he knows what category. is long term investors and still are owned by j.p. morgan now you morgan have some silver in the old tragic yes the can but i think it's an in afterward assumption to think that all of that silver it's owned by them and no one has joined it's over in their facilities how much of it in the old categories there's it's hard to say most of most and very little of it but it can't be proven one and one where the. this falls under the heading of are we at

a flexion point in the price of silver in l.a. because i suffer from many errors a traded from four to fourteen for many ersatz hand hang on the sixteen eighteen arrangements for seems like an eternity and you've got the same thing morgan is out there apparently they're buying solver also the gold or silver a still is eighty two. which is historically a very very high is all of this adding up to a bullish case for a sober are we about to break out of the dull jones david morgan. i believe we are if you look at the commitment of traders report which most of then. oh let's say i've learned about al portman command of traders reports are especially for gold and silver and we are in a unique case something i haven't seen since i've been looking at them for like twenty years or so which is that silver base is the c o t that men are traders is

at a level where there's basically nowhere to go but up that does not mean that it can go lower still but we're basically in a net short position which hasn't happened. in this category for since two thousand and three i believe it's been like thirteen years so we're in an extremely well positioned area for silver to move higher just because the commitment of traders shows that it's at this level doesn't necessarily mean it's instantaneous but the other facts what you mentioned that's are over eighty on the gold silver ratio which usually portends a closure of that which means it's over starts to outperform go. the gold c o two is not nearly as bush as the silks you normally the coincide pretty much but at

this point in time that's not the case so one of the best traits i think you could use at this time would be to do a thread which means to short gold or go on silver and all that means is not that you dislike or just expects silver out form gold it's rather conservative trade and it also requires less margin to form structure i found of so now you know we've been talking to you for a number of years and the big bugaboo when talking about all the sellers allas the fact that the us dollar has got tremendous support and all us start and ahmed assets are supported and we've got special banks around the world and on the game and they love the dollar they had precious metals because they want to push the theocracy and everything associated with it however now we've got in china launching an oil futures market priced in us many say this is the beginning of the petro us and the end of the patch dollar so this would paul possibly a leg under out from underneath that dollar as well reserve currency as

a fair statement or what are your thoughts on that statement oh it's very statement max the only thing i am of more public concern a little older doesn't make me any wiser although i hope it could i do figure it out will have an impact i'm just not willing to stay is going to be immediate but they go over time it definitely will cut into the dollar hedge more neutral dollar over time and what does that mean to even i guess you know six months to a year could be it's just leader very soon we've only had one trading i've read some articles about it certainly the tree was robust b.t.i. using the you want and there was a arbitrage opportunity which is interesting right from the get go so i do think you have something the tide of gold that's a little bit of a stretch i did an interview with alister. from. gold and we're friends i can see that there's a possibility of two traits but it isn't tied directly to old although those

a trade in that parameter in this new on base petrodollar petro contract could if they elected to move in another contract go back but it isn't tied directly right south china lost a gold spacers priced and you add a year ago or two years ago and has this had any impact now it hasn't yet really i mean any time you take you know physical gold from the overall supply doesn't out of that fact and truth yes i mean it moved from one hand to another hand but what really did it affect the price would affect the price of stand surely and the answer to that is basically no china and russia particularly have been accumulating wealth for years as the data guys like to say that there's been given that gift with the derivatives market getting a price at a level that they just keep buying and buying and buying so as far as the shift of physicals concerned it's been nass of it's been

a genial asian for years and years that cannot be discounted and if you go to a gold backing in another words hounds currencies out there versus i'm unschooling selling by a nation state russia has the best ratio so i think it's very important from that perspective or from a fundamental perspective but as far as does it you know affect the price the answers there are too smart to let it affect the price at this point in time that's my view they're taking advantage of to get a says what the derivatives market gives them as far as a price finding it can as. right you made a good point there russia's been accumulating gold china has been accumulating gold of precious metals and as far as precious metals as a percentage of their reserves of g.d.p. they're pretty well positioned going forward you know where environment where there's a lot of rhetoric a lot of heated rhetoric some cold war two point zero and is this type of environment tend to favor gold and silver david. absolutely i mean

the whole system is it's you know as we both know max game it's a confidence game and that's the problem because once confidence is lost then things break apart rather rapidly so right now the brics you know brazil russia india china and south africa four years ago the asian infrastructure investment bank they've moved down the swiss systems late position themselves to basically. isolate themselves financially from a dollar collapse now whether or not that would or not i would say remains to be determined but obviously the effort is made and again to repeat the continue to buy the one thing that's been trusted for a thousand years old so if you look at it as objectively as i possibly can and it speaks volumes and why would the central banks in these you know in the brics want so much gold i mean it's obvious they don't trust the dollar so i think it's

a continuation and when is the breaking point means if you term and i think we're ever closer especially with this the pet your situation that we just talked. all right and the big competitor for the precious battle block over the past few years of course as bankrupt the car say and because i have a huge drop in twice i haven't seen now big pullback in twenty eighteen do you think is going to be a rotation now from those are looking for sound money and alternatives to the u.s. dollar would rotate out of crypt as an enterprise just models and particularly into silver because so far it seems to be a uniquely undervalued at this stage david. well added only certainly it's a one day does make a market but a minute young man at the n.r.a. poker complex where i spoken i had suggested on one of the interviews that would be a good time perhaps take some coin profit moved into silver he did it one bit closer to seventeen thousand so he's pretty happy at that point in time. and i

think the next phase could be again this is my bias where you start to see what we're already seeing which means more and more crypto currencies that are backed by gold or silver or both and you see more of those i think that could be the next leg of the currency or the distributed ledger technology going forward there's been a lot in the decline in world either like or in some of the better known ones are probably the most legitimate and there's been probably not a large number that have been basically what's in it for me only type of things it's a great technology i'm not against the block chain i am a little skeptical of what the true anonymity of it is and also what it's a long term bill ability meaning and i'll digress here moment x. but i was at the summer some in san francisco november of last year it was myself the case the agent in a couple other presenters and were asked ten years out if you could buy one asset

bitcoin or gold what would you buy and all of us answered all. all right. while the nose attracted a lot of interesting heavyweights like ron paul in the big quiet space i was at the gym recently and one t.v. they had an ira first over and on the other t.v. was ron paul advertising iras with bitcoin so these two are battling it out but so are certainly is looking like it's like bitcoin circa you know beef after the mt gox collapse it's it's been time for a rally and of course you're on the front line anecdotally are you starting to see order flow and interest in so far we've got about five seconds david now very well to watch your many dealers here in the last week you know more still flatter still sellers in the market overall so still flat but are you growing no no never saw the market so you want to be all right fair enough never sell

a quiet market thanks david morgan for being on the kaiser report thank you well that's going to do it for this edition of the concert for with me most guys are stacey everett want to thank our guest david morgan and you can find him over at the morgan report dot com is trying to find us on twitter scott as a reporter until next time you know. henry kissinger once said the brochure in the united states went into the ukrainian crisis and russian of the based on mutual misconception was tension is heightened over the scruple case it's going to buy misconceptions we didn't get written this representation. but hope to do something to. put themselves on the line they did accept the reject

. so when you were the first. wanted. to try to be for us as a white woman for freedom or can't be good. i'm interested always in the waters of our. first city. it's the cradle of jazz. the america is the america we. took no love this jazz feel. a city of climatic contests trophies of alligators on the loose of poverty and crime are used by the least swell members of mob family close mouthed murder of street racing in the heat of the night this is a new orleans suffering men who own the best place in the work. russia

calls for a u.n. security council meeting over the latest developments in this group powell investigation this is the u.k. lab that tested the nerve agents used in the attack in britain but it's not able to identify the song. in the wake of the british foreign secretary boris johnson is being called to account for his insistence that russia carried out the poisoning. facebook admits that tens of millions more people could be affected by the data harvesting scandal the initially told the data research company involved in the scandal disputes the numbers. plus the us state of michigan approved plans by food giant nestlé to extract more water but bottling gas despite widespread local opposition.

a very warm welcome you're watching r.t. international with me becky erin our top story this hour russia has called for a u.n. security council meeting later this thursday moscow wants to discuss the latest developments over the poisoning of former spy a surrogate script powell and his daughter in the u.k. earlier this week a british military laboratory admitted it could not identify the source of the nerve agent that was used although the government consistently claims there's a direct link to russia. takes up the story. it's a right old kid on drugs on the one hand you skip the trial screamed guilty and jump to the punishment part on the other your own guys come out and say hold on

there's no evidence and i was his by were living experts at the defense science and technology laboratory at porton down made clear that this was a military grade nobby choke nerve agent produced in russia we have not verified the precise source you have not been able to establish that this was made in russia as i said it's our job to provide you know the scientific evidence that identifies porton down to say where it is from we haven't yet been able to do that well that's embarrassing alright keep calm first goo back on your word and just to be sure delete any old tweets then riposte experts who say the opposite of what you said our experts have precisely identified in their region as nobby chuck it is not and has never been our responsibility to confirm the source of the agent now pretend that nothing happened which is hard to do in the end to

that really the brits ended up having to explain themselves and conveniently scapegoated the poor fellow who transcribed the briefing one of the tweets was truncated and did not accurately report her master's words we removed this tweet you remember what i said about scapegoating he really did but barge johnson himself had said almost the same thing said it's on video you argue that their source of the chalk is russia how did you manage to find it out so quickly when i look at the the evidence i mean the people from from portland they were absolutely categorical and i asked the guy myself i said are you. short and he said there's no doubt wouldn't want to be in the shoes right about now yet they did find a way around it a simple statement saying that boris johnson didn't mean it like that what the

foreign secretary said then and what putin donna said recently is fully consistent with what we've said throughout having to good things so far so fast they can't afford to do a u. turn this investigation could end in two ways with proof of russia's guilt or with an uncomfortable silence and hope that everyone forgets until then boris keep doing what you do every day are you ready for the figure on the surface the god stuff and we are rushing production. is the government going to use russia. being a surrogate is not an isolated case but the latest in the path of ridiculous behavior by the russian state the russians the russians a russian russia russia russian russian denali i'm afraid the evidence is overwhelming that it is russia and boris johnson has serious questions to say the

claims on german television that this was a russian booster nerve agent porton down then examine it and said all they claim to have five or so is not the truth they couldn't say where it came from. there's also been a tirade of criticism from britain's opposition labor party on twitter of a bar stance and assurances that russia was behind the poisoning one commented on boris johnson's now vilified t.v. interview asking if he wanted to delete that two others stressed the need to check evidence while labor m.p. chris williamson called johnson downright dangerous and says the incident is being used as a diversionary tactic. seems to me the government were indulging in political point scoring particularly boris johnson who raced ahead of the evidence and used this terrible incident not so much as a smoking gun but more of a smokescreen really it was a very convenient for the government to use this as

a way of diverting attention from their own difficulties over. policy and you know at the end of the day it's pretty clear that boris johnson did not tell the truth he told the german interviewer that. scientists doubt it said it was without doubt that the agents had to come from russia so i think jeremy called them was absolutely royds to caution to ask for clear evidence before we start to raise international tensions but we need to get to the bottom in the evidence and jeremy said this seems to point towards russia but let's be absolutely clear before we start raising international tensions in this way this is huge implications for more sensible to take a measured approach and be clear about the evidence and all the evidence well person blaming moscow for the nerve agent attack resulted in a number of countries expelling russian diplomats in solidarity russia retaliated

incentive british and other foreign diplomats home to thursday is the deadline for us to leave the embassy in moscow russian foreign minister sergey lavrov used some colorful language to sum up the standoff. we haven't seen such an open mockery of international law diplomatic ethics and basic manners in a long time it's unacceptable to push unfounded accusations instead of an honest investigation because in the famous book by lewis carroll the queen demands to first sentence the defendant and only after that listen to the jury's verdict to find out whether he's guilty or not but after all lewis carroll wrote satire using the genre of fairy tales which are talks of the hague demonstrates that self-respect in adults do not believe in fairy tales so basically powell and his daughter yulia were found on conscious just over a month ago in the english city of saul's berry it was later revealed that they

were both exposed to a nerve agent of a type produced in the soviet union called navi chalk script pal used to be a russian intelligence officer before he was charged for appealing confidential information to the u.k. secret service says he remains in a coma his daughter now reportedly in a stable condition. the international chemical weapons watchdog the o.p.c. w. met on wednesday of this gopal incident and russia proposed a joint investigation but that idea was rejected. we will not agree to russia's demands to conduct a joint investigation into the attack in solsbury because the u.k. has assessed that it is highly likely that the russian state is responsible for this attack and that there is no plausible alternative explanation there's no requirement in the chemical weapons convention for a victim to engage the likely perpetrator in a joint investigation to do so would be perverse. unfortunately we didn't manage to

get the needed two thirds of votes for the resolution to pass obviously the brits and americans voted against and then nato and some a u member states and u.s. allies followed suit they fear the truth they fear to take responsibility for their words the blatant accusations for provocative statements from the head of u.k. diplomacy. it has representative to the o.p.c. wu set out to more claims against russia at the meeting linking the script poisoning to the chemical attack in the syrian town of calling shaikh who last year about attack led the u.s. to five dozens of tomahawk missiles into syria to take out a government base he claims that russia had called wednesday's meeting in the hague to make a political point well chemistry professor dave cullen says that the nerve agent believed to have been used in seoul's bri is.