JAN 3/2020//IRAN’S TOP COMMANDER SOLEIMANI ASSASSINATED SENDS MARKETS INTO TURMOIL: GOLD CLOSES UP $24.60 TO $1550.20//SILVER UP 12 CENTS TO $18.11//ANOTHER NEW COMEX OPEN INTEREST RECORD//.THE VERY RELIABLE ISM MFG INDEX CRASHES//BALTIC DRY INDEX CRASHES//

GOLD:$1550.20 UP $24.60    (COMEX TO COMEX CLOSING

 

 

 

 

 

Silver:$18.11 UP 12 CENTS  (COMEX TO COMEX CLOSING)

Closing access prices:

 

 

Gold :  $1551.70

 

silver:  $18.06

 

 

COMEX DATA

JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

today RECEIVING:36/74

EXCHANGE: COMEX
CONTRACT: JANUARY 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,524.500000000 USD
INTENT DATE: 01/02/2020 DELIVERY DATE: 01/06/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
435 H SCOTIA CAPITAL 5
624 C BOFA SECURITIES 3
657 C MORGAN STANLEY 4
661 C JP MORGAN 36
737 C ADVANTAGE 61 22
800 C MAREX SPEC 13 2
880 C CITIGROUP 1
905 C ADM 1
____________________________________________________________________________________________

TOTAL: 74 74
MONTH TO DATE: 2,040

we are coming very close to a commercial failure!!

 

 

NUMBER OF NOTICES FILED TODAY FOR  JAN CONTRACT: 74 NOTICE(S) FOR 7400 OZ (0.2301 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  2040 NOTICES FOR 204000 OZ  (6.3452 TONNES)

 

 

 

 

SILVER

 

FOR JAN

 

 

52 NOTICE(S) FILED TODAY FOR 260,000  OZ/

total number of notices filed so far this month: 234 for 1,170,000 oz

 

XXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: OPENING MORNING TRADE :  $ 7345 UP 378 

 

 

 

 

Bitcoin: FINAL EVENING TRADE: $ 67328 UP 365

 

Let us have a look at the data for today

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IN SILVER THE COMEX OI ROSE BY A STRONG SIZED 1575 CONTRACTS FROM 229,680 UP TO 231,255 WITH THE 12 CENT GAIN IN SILVER PRICING AT THE COMEX.

TODAY WE ARRIVED CLOSER TO AUGUST’S 2018  RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S.  WE WERE  NOTIFIED  THAT WE HAD A  STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:,

; FEB 0; MARCH:  1742 AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1742 CONTRACTS. WITH THE TRANSFER OF 1742 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 1742 EFP CONTRACTS TRANSLATES INTO 8.710 MILLION OZ  ACCOMPANYING:

1.THE 12 CENT GAIN IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST 12 MONTHS:

JUNE/2018. (5.420 MILLION OZ);

FOR JULY: 30.370 MILLION OZ

FOR AUG., 6.065 MILLION OZ

FOR SEPT. 39.505 MILLION  OZ S

FOR OCT.2.525 MILLION OZ.

FOR NOV:  A HUGE 7.440 MILLION OZ STANDING  AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

2.955 MILLION OZ STANDING FOR FEBRUARY.:

27.120 MILLION OZ STANDING IN MARCH.

3.875 MILLION OZ STANDING FOR SILVER IN APRIL.

18.845 MILLION OZ STANDING FOR SILVER IN MAY.

2.660 MILLION OZ STANDING FOR SILVER IN JUNE//

22.605 MILLION OZ  STANDING FOR JULY

10.025   MILLION OZ INITIAL STANDING IN AUGUST.

43.030   MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)

7.32     MILLION OZ INITIALLY STANDING IN OCT

2.630     MILLION OZ STANDING FOR NOV.

20.970   MILLION OZ  FINAL STANDING IN DEC

1.505     MILLION OZ INITIALLY STANDING IN JAN

THURSDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO CONTAIN SILVER’S PRICE…AND THEY WERE  UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE 12 CENTS).. AND, OUR OFFICIAL SECTOR/BANKERS  WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE  SOME SILVER LONGS AS THE TOTAL GAIN IN OI ON BOTH EXCHANGES TOTALED 3317 CONTRACTS. OR 16.59 MILLION OZ…..

 

 

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JAN:

2462 CONTRACTS (FOR 2 TRADING DAYS TOTAL 2462 CONTRACTS) OR 12.310 MILLION OZ: (AVERAGE PER DAY: 1231 CONTRACTS OR 6.155 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JAN:  12.31 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 1.758% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*  JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

 

ACCUMULATION IN YEAR 2019 TO DATE SILVER EFP’S:          12.300   MILLION OZ.

JANUARY 2020 EFP TOTALS SO FAR: 12.30 MILLION OZ

 

 

RESULT: WE HAD A VERY STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1575, WITH THE 12 CENT GAIN IN SILVER PRICING AT THE COMEX /THURSDAY... THE CME NOTIFIED US THAT WE HAD A  STRONG SIZED EFP ISSUANCE OF 1742 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON  AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA)

TODAY WE GAINED A HUMONGOUS  SIZED: 3317 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: 

i.e 1742 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH INCREASE OF 1575 OI COMEX CONTRACTS. AND ALL OF THIS STRONG DEMAND HAPPENED WITH A 12 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $17.99 // THURSDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY!! 

 

In ounces AT THE COMEX, the OI is still represented by JUST OVER 1 BILLION oz i.e. 1.148 BILLION OZ TO BE EXACT or 164% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JAN MONTH/ THEY FILED AT THE COMEX: 52 NOTICE(S) FOR 260,000 OZ OF SILVER.

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018.  AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70

 

.

 

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

  1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ  MAY: 36.285 MILLION OZ ; JUNE/2018  (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ   )  FOR AUGUST 6.065 MILLION OZ. , SEPT:  A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz  NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ   JANUARY AT  5.825 MILLION OZ.AND FEB 2019:  2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/  APRIL AT 3.875 MILLION OZ/ A MAY:  18.845 MILLION OZ ..JUNE 2.660 MILLION OZ//JULY 22.605 MILLION OZ; AUGUST 10.025 MILLION OZ/ SEPT 43.030 MILLION OZ//OCT: 7.665 MILLION OZ//   NOV: 2.630 MILLION OZ//DEC:  20.970 MILLION OZ; JAN: 1,505,000  OZ
  2.  THE  RECORD WAS SET IN AUGUST 22/2018:  244,196 CONTRACTS,  WITH A SILVER PRICE OF $14.78//.
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017 RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

 

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT)

 

GOLD

 

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 583 CONTRACTS TO 786,749 SETTING AN ALL TIME RECORD (SET JAN 3/2020)  AND THUS  ECLIPSING  OUR PREVIOUS ALL TIME RECORD OF 786,166 (SET JAN 2/2019).

THE RISE IN COMEX OI OCCURRED WITH A  $5.20 PRICING GAIN ACCOMPANYING COMEX GOLD TRADING// THURSDAY// /

 

 

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A HUMONGOUS SIZED 9266 CONTRACTS:

DEC 2019: 0 CONTRACTS, FEB>  9266 CONTRACTS APRIL: 0 AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at A RECORD 786,749,,.  ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A VERY STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9849 CONTRACTS: 583 CONTRACTS INCREASED AT THE COMEX  AND 9266 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 9849 CONTRACTS OR 984,900 OZ OR 30.63 TONNES.  THURSDAY WE HAD A GAIN OF $5.20 IN GOLD TRADING….

AND WITH THAT GAIN IN  PRICE, WE  HAD A STRONG GAIN IN GOLD TONNAGE OF 30.63  TONNES!!!!!! THE BANKERS/OFFICIAL SECTOR WERE SUPPLYING INFINITE SUPPLIES OF SHORT GOLD COMEX PAPER WITH RECKLESS ABANDON. THE BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO LOWER GOLD’S PRICE (UP $5.20) THEY WERE TOTALLY  UNSUCCESSFUL IN THEIR ATTEMPT TO  FLEECE  GOLD LONGS FROM THE GOLD ARENA AS WE HAD OUR STRONG GAIN IN OPEN INTEREST ON OUR TWO EXCHANGES (30.63 TONNES). THE SPREADING OPERATION HAS NOW SWITCHED OVER TO SILVER.

SPREADING LIQUIDATION HAS NOW STOPPED IN SILVER AS THEY MORPH INTO GOLD AS THEY HEAD TOWARDS THE NEW FRONT MONTH WILL BE FEBRUARY.

 

 

FOR THOSE OF YOU WHO ARE NEW, HERE IS THE MODUS OPERANDI OF THE SPREADERS AND THE CRIMINAL ELEMENT BEHIND IT:

 

THE SPREADING LIQUIDATION OPERATION IS NOW OVER FOR GOLD..AND WE WILL NOW MORPH INTO AN ACCUMULATION PHASE OF SPREADING CONTRACTS FOR SILVER.  THEY WILL ACCUMULATE CONSIDERABLE AMOUNT OF THE CONTRACTS AND THEN LIQUIDATE ONE WEEK PRIOR TO FIRST DAY NOTICE

FOR THOSE OF YOU WHO ARE NEWCOMERS HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:

.

 

 

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

 

 

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO GOLD AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON  ACTIVE DELIVERY MONTH OF JAN HEADING TOWARDS THE  NON ACTIVE DELIVERY MONTH OF FEBRUARY FOR GOLD:

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES, HERE IS THE BANKERS MODUS OPERANDI:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON  ACTIVE MONTH OF JAN. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (FEB), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

 

 

 

 

 

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN : 13,486 CONTRACTS OR 1,348,600 oz OR 41.947TONNES (2 TRADING DAYS AND THUS AVERAGING: 6743 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 2 TRADING DAY(S) IN  TONNES: 41.947 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 41.947/3550 x 100% TONNES =1.180% OF GLOBAL ANNUAL PRODUCTION

 

 

ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE:     41.947  TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; SO FAR: 41.947 TONNES

 

 

 

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

 

Result: A FAIR SIZED INCREASE IN OI AT THE COMEX OF 1,754 WITH THE  PRICING GAIN THAT GOLD UNDERTOOK THURSDAY($5.20)) //.WE ALSO HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9266 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX.  I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 9266 EFP CONTRACTS ISSUED, WE  HAD AN ATMOSPHERIC AND CRIMINALLY SIZED GAIN OF 9849 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

9266 CONTRACTS MOVE TO LONDON AND 583 CONTRACTS INCREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 30.63 TONNES). ..AND THIS  INCREASE OF DEMAND OCCURRED WITH A GAIN IN PRICE OF $5.20 WITH RESPECT TO THURSDAY’S TRADING AT THE COMEX.

THE COMEX IS NOW UNDER FULL ASSAULT WITH RESPECT TO GOLD AND SILVER.

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

With respect to our two criminal funds, the GLD and the SLV:

GLD...

WITH GOLD UP $24.60 TODAY//(COMEX-TO COMEX)

A BIG CHANGE IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.05 TONNES INTO THE GLD

JAN 3/2019/Inventory rests tonight at 895.30 tonnes

 

 

 

 

 

SLV/

 

 

WITH SILVER UP 12 CENTS TODAY

WHAT A FRAUD!!

A BIG CHANGE IN SILVER INVENTORY AT THE SLV: ANOTHER PAPER WITHDRAWAL OF 1.176 MILLION OZ

 

 

 

JAN 3/INVENTORY RESTS AT 361.440 MILLION OZ.

 

 

 

TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD.  IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY

 

 

end

 

OUTLINE OF TOPICS TONIGHT

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest in SILVER ROSE BY A HUGE SIZED 1482 CONTRACTS from 226,680 UP TO 231,162 AND CLOSER TO A NEW COMEX RECORD.  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 1/2 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

 

EFP ISSUANCE 1742

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 FOR FEB. 0; FOR MAR  1742  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1742 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE OI GAIN AT THE COMEX OF 1575  CONTRACTS TO THE 1742 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A STRONG GAIN OF 3317 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 16.59 MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESSED A FINAL STANDING OF GREATER THAN 30 MILLION OZ FOR JULY, A STRONG 7.475 MILLION OZ FOR AUGUST..  A HUGE 39.505  MILLION OZ  STANDING FOR SILVER IN SEPTEMBER… OVER 2 million  OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER.,  7.440 MILLION OZ FINALLY STANDING IN NOVEMBER.  21.925 MILLION OZ STANDING IN DECEMBER , 5.845 MILLION OZ STANDING IN JANUARY. 2.955 MILLION OZ STANDING IN FEBRUARY,  27.120 MILLION OZ FOR MARCH., 3.875 MILLION OZ FOR APRIL  18.765 MILLION OZ FOR MAY  NOW 2.660 MILLION OZ FOR JUNE WITH JULY AT 22.605 MILLION OZ AUGUST AT 10.025 MILLION OZ//  SEPT: 43.030 MILLION OZ///OCT: 7.32 MILLION OZ//NOV 2.63 MILLION OZ//DEC: 20.970 MILLION OZ//JAN: 1.505 MILLION OZ//

 

 

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE 12 CENT GAIN IN PRICING THAT SILVER UNDERTOOK IN PRICING// THURSDAY. WE ALSO HAD A VERY STRONG SIZED 1742 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR THIS MONTH, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL

 

 

(report Harvey)

 

 

 

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

I)FRIDAY MORNING/ THURSDAY NIGHT: 

SHANGHAI CLOSED DOWN 1.41 POINTS OR 0.05%  //Hang Sang CLOSED DOWN 92.02 POINTS OR 0.32%   /The Nikkei closed DOWN 181.10 POINTS OR 1.97%//Australia’s all ordinaires CLOSED UP .66%

/Chinese yuan (ONSHORE) closed DOWN  at 6.9726 /Oil UP TO 57.21 dollars per barrel for WTI and 64.13 for Brent. Stocks in Europe OPENED MIXED//  ONSHORE YUAN CLOSED DOWN // LAST AT 6.9726 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.9697 TRADE TALKS STALL//YUAN LEVELS GETTING DANGEROUSLY CLOSE TO 7:1//TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED  : /ONSHORE YUAN TRADING  BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3A//NORTH KOREA/ SOUTH KOREA

 

3b) REPORT ON JAPAN

3C  CHINA

HONG KONG

This is very problematic for China.  Hong Kong records another double digit decline in retail sales..the most important component of their GDP.  There is no question that all wealthy citizens are removing their gold from Hong Kong and moving it to either Switzerland or Singapore.  This leaves a huge gaping derivative gold balloon derivative loss for HSBC.  Even though HSBC is headquartered in London it does 90% of its business in the two Chinas

(zerohedge)

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

i)IRAQ/IRAN/USA

Last night at 6 pm we get initial reports of a record attack on the airport in Baghdad.  At first we thought it was the militants that were attacking the airport which eventually proved false

(zerohedge)

ii)IRAQ/IRAN/USA

One hour later we learn that it was the Americans who fired rockets at the airport. The chief commander of the IRG, Soleimani had just arrived from either Syria or Lebanon where he was targeted along with his no 2 who had come to greet him.  It is interesting that the Iranians had full control over the airport. We now await the Iranian response

(Times of Israel)

iii)IRAN/USA

The Ayatollah vows severe retaliation for the killing of Soleimani

(zerohedge)

iv)Iran

iran deploys F 14 fighter jets to its borders and then places ballistic missile bases on high alert
(zerohedge)

v)TURKEY/SYRIA/RUSSIA/

Erdogan issues an appeal to stop the offensive in Syria because he cannot handle any more migrants. The UN reports that almost 300,000 more migrants are on the move to Turkey. Turkey is broke and Europe is not opening any of its gates.
(zerohedge)

vi)Iranians, Iraqis, Israelis all thank Trump for the airstrike that killed Soleimani

(Steve Watson/Summit News)
vi)Iran//Strait of Hormuz
Will the Iranians close the Strait. If they do oil will skyrocket to 150 dollars per barrel.
(CapEcon//zerohedge)

6.Global Issues

BALTIC DRY INDEX

Yesterday the Baltic Dry Index which is a good Bellwether for global growth had its worst day in 6 years

(zerohedge)

7. OIL ISSUES

 

8 EMERGING MARKET ISSUES

 

9. PHYSICAL MARKETS

i)In this report, China’s cut of dollar weighting will propel global growth and also gold/silver accumulation

(South China Morning post/GATA)

ii)Why is the Fed bailing out Wall Street and not the consumer?

(courtesy Pam and Russ Martens/Wall Street on Parade)

iii)Brought this to your attention yesterday but it is worth repeating. Helicopter money is here as over 400 billion of USA debt has been monetized

(zerohedge/GATA)

iv)Alasdair Macleod now states that the gold price suppression scheme is beginning to fail

(Alasdair Macleod/GATA)

10. important USA stories which will influence the price of gold/silver

MARKET TRADING//USA

a)Market trading/LAST NIGHT/USA

 

b)MARKET TRADING/USA/AFTERNOON

ii)Market data/USA

ISM

This is very telling: the USA mfg ISM index crashes in December and it is at its lowest level since the great recession of 2009
(zerohedge)

iii) Important USA Economic Stories

a)New York and Los Angeles ramp up security after that USA kills the top Iranian Commander Soleimani

(zerohedge)

b)Trump takes aim at the Democrats commentating on the Iran escalation

(zerohedge)

c)US/Iran

Pompeo reports that the USA assassination of the top Iranian official (Soleimani) was due to an “active plot” to kill Americans.
(zerohedge)

iv) Swamp commentaries)

Their day is coming ..Mark Meadows talking about the Durham probe against the Democrats

(zerohedge)

v) King report/Courtesy of Chris Powell of GATA which includes the major swamp stories.

 

LET US BEGIN:

 

 

Let us head over to the comex:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY FAIR SIZED 583 CONTRACTS, UP TO A NEW RECORD OF 786,749 (SET JAN 3/2020) (ECLIPSING OUR PREVIOUS NEW RECORD OF 786,166 SET JAN 2/2019) WITH THE GAIN OF $5.20 IN GOLD PRICING // THURSDAY’S // COMEX TRADING)

WE ARE NOW IN THE  NON ACTIVE DELIVERY MONTH OF JAN..  THE CME REPORTS THAT THE BANKERS ISSUED A  STRONG SIZED  TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 9266 EFP CONTRACTS WERE ISSUED:

  FEB: 9266  AND APRIL: 00  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 9266 CONTRACTS.

THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST  48 HRS AFTER OUR LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON BASED FORWARD.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUGE 9849 TOTAL CONTRACTS IN THAT 9266 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A FAIR SIZED 583 COMEX CONTRACTS.

THE BANKERS SUPPLIED THE NECESSARY AND INFINITE AMOUNT OF SHORT PAPER IN GOLD.  THE BANKERS WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT ROSE BY $5.20). AND THEY WERE MOST DEFINITELY UNSUCCESSFUL IN FLEECING ANY LONGS AS WE GAINED A VERY STRONG SIZED  9849 CONTRACTS ON OUR TWO EXCHANGES…..

 

NET GAIN ON THE TWO EXCHANGES ::  984,900 CONTRACTS OR 984,900 OZ OR 30.63 TONNES.  

COMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION.  IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCTION)

THUS IN GOLD WE HAVE THE FOLLOWING:  786,749 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 78.68 MILLION OZ/32,150 OZ PER TONNE =  2,447 TONNES

THE COMEX OPEN INTEREST REPRESENTS 2,447/2200 OR 111.2% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

We are now in the   NON active contract month of JAN.  This month is generally one of the poorest of delivery months for the year.  Here we have a total of 202 open interest left to be served upon, for a loss of 78 contracts.   We had 211 notices served up on Thursday so we surprisingly gained another whopping  133 contracts or an additional 13,300 oz will stand for delivery in this non active delivery month of January. I can now safely say that the comex is under attack for metal!!

The next active delivery month after January is February and here we witnessed A loss OF 6570 in contracts down to 546,386.  

March received another 15 contracts to stand at an open interest of 29.

The next active delivery month after March is April and here we witnessed a gain of 7750 contacts up to 134,125 oi contracts.

We had 74 open interest notices served upon today for 7400 oz.

 

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now for the wild silver comex results

Total COMEX silver OI ROSE BY STRONG SIZED 1575 CONTRACTS FROM 229,680 UP TO 231,255 (AND CLOSER TO THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018.  THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND THURSDAY’S STRONG  OI COMEX GAIN OCCURRED DESPITE A 12 CENT GAIN IN PRICING/.

WE ARE NOW INTO THE  NON-ACTIVE DELIVERY MONTH OF JAN.

Here we have a LOSS of 97 contracts DOWN to 119. We had 98 notices served on Tuesday, so we gained 1 contracts or an additional 5,000 oz will stand for delivery during this non active delivery month of January. Silver along with gold are under attack for metal!! Our bankers have their work cut out for them.

 

 

 

After January, we have  the non active month of February and here we saw a LOSS of 23 contracts DOWN to 448.  March is a very active month and here we witness a GAIN of 541 contracts UP to 181,685

 

 

We, today, had 52 notice(s) filed for 260,000, OZ for the DEC, 2019 COMEX contract for silver

Trading Volumes on the COMEX TODAY: 431,793 contracts 

 

 

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 298,067 contracts

 

 

 

INITIAL standings for  JAN/GOLD

JAN 3/2020

 

Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz nil oz

 

 

 

 

Deposits to the Customer Inventory, in oz  

4822.500

Loomis

150 kilobars

 

No of oz served (contracts) today
74 notice(s)
 7400 OZ
(0.2301 TONNES)
No of oz to be served (notices)
128 contracts
(12800 oz)
0.39813 TONNES
Total monthly oz gold served (contracts) so far this month
2040 notices
204000 OZ
6.3452 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz

we had 0 dealer entry:

We had 1 kilobar entries

 

 

total dealer deposits: nil oz

total dealer withdrawals: 0 oz

 

we had 1 deposit into the customer account

i) Into JPMorgan: nil  oz

 

 

ii)into Loomis:  4822.50 oz

150 kilobars

 

total gold deposits: 4822.50  oz

 

 

 

 

we had 0 gold withdrawals from the customer account:

 

 

 

 

 

total gold withdrawals; nil oz

ADJUSTMENTS:  1

i) Out of Scotia customer account 201.03 oz removed

 

 

 

 

 

FOR THE JAN 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 74 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 36 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 0 notices by the squid  (Goldman Sachs)

 

To calculate the INITIAL total number of gold ounces standing for the JAN /2020. contract month, we take the total number of notices filed so far for the month (2040) x 100 oz , to which we add the difference between the open interest for the front month of  JAN. (202 contracts) minus the number of notices served upon today (74 x 100 oz per contract) equals 216,800 OZ OR 6.743 TONNES) the number of ounces standing in this NON  active month of JAN

Thus the INITIAL standings for gold for the JAN/2020 contract month:

No of notices served (2040 x 100 oz)  + (202)OI for the front month minus the number of notices served upon today (74 x 100 oz )which equals 216,800 oz standing OR 6.743 TONNES in this  NON active delivery month of JAN.

WE GAINED A HOPPING 133 CONTACTS OR AN ADDITIONAL 13,300 OZ WILL STAND AT THE COMEX AND THUS REFUSE TO MORPH INTO LONDON BASED FORWARDS. BY REFUSING TO TRAVEL TO LONDON THEY ALSO NEGATED A FIAT BONUS.

 

 

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE ONLY 34.141 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS.

HERE IS WHAT STOOD DURING THESE PAST 5 MONTHS:  AUGUST 27.153 TONNES

SEPT:                                                                      5.4525 TONNES

 

OCT…………………………………………………………………………..   37.99 TONNES

NOV……                                                                5.3841 tonnes

DEC………………………….                                              45.912 TONNES

JAN……………………                                                    6.743 TONNES

 

total: 128.635 tonnes

ACCORDING TO COMEX RULES:

 

IF WE INCLUDE THE PAST 6 MONTHS OF SETTLEMENTS WE HAVE 19.2540 TONNES SETTLED

 

IF WE ADD THE FIVE DELIVERY MONTHS: 128.635  tonnes

 

Thus:

128.2635 tonnes of delivery –

19.2540 TONNES DEEMED SETTLEMENT

= 109.00 TONNES STANDING FOR METAL AGAINST 34.141 TONNES OF REGISTERED OR FOR SALE COMEX GOLD! THIS IS WHY GOLD IS SCARCE AT THE COMEX.

 

total registered or dealer gold:   1,335,197.153 oz or  41.53 tonnes
which  includes the following:
a) registered gold that can be used to settle upon: 109,764.35 oz (34.141 tonnes)
b) pledged gold held at HSBC  which cannot settle upon:  237,553.646 oz  ( 7.38989)//+
    total  7.38989 tonnes
true registered gold  (total registered – pledged tonnes  109,764.25  (34.141 tonnes)
total registered, pledged  and eligible (customer) gold;   8,703,641.119 oz 270.71 tonnes

 

 

THE GOLD COMEX IS NOW IN STRESS AS
1. GOLD IS LEAVING THE COMEX 
2. GOLD IS LEAVING THE REGISTERED CATEGORY OF THE COMEX.

WHY ARE THEY NOT SETTLING?

 

THE COMEX IS AN ABSOLUTE FRAUD..

 

end

And now for silver

AND NOW THE  DELIVERY MONTH OF JAN.

INITIAL  standings/SILVER

JAN 3
Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
 432,032.23 oz
Brinks
Delaware
CNT
Scotia

 

 

Deposits to the Dealer Inventory
nil oz

 

Deposits to the Customer Inventory
870,096.26 oz
brinks
Delaware
Scotia
No of oz served today (contracts)
52
CONTRACT(S)
(260,000 OZ)
No of oz to be served (notices)
67 contracts
 335,000 oz)
Total monthly oz silver served (contracts)  234 contracts

1,170,000 oz)

Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

**

 

 

we had 0 inventory movement at the dealer side of things

 

 

 

total dealer deposits: nil oz

total dealer withdrawals: nil oz

i)we had 3 deposits into the customer account

into JPMorgan:   0

 

ii) Into CNT: 17,192.940 oz

iii) into Brinks: 252,810.620 oz

iv) into Scotia; 600,093.700

 

 

 

 

 

 

 

 

 

 

*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.

JPMorgan now has 161.3 million oz of  total silver inventory or 50.77% of all official comex silver. (161.3 million/317.74 million

 

 

 

 

total customer deposits today:  870,096.260  oz

 

we had 4 withdrawals out of the customer account:

 

i) Out of Delaware:  951.800- oz

ii) Out of BNS: 300,692.200 oz

iii) out of Brinks; 50,159.693 oz

iv) Out of CNT: 80,228.540 oz

 

 

 

 

 

total withdrawals; 432,032.23   oz

We had 1 adjustment:

i Out of CNT:  251,697.620 oz was adjusted out of the customer account and this landed into the dealer account

 

 

total dealer silver:  84.710 million

total dealer + customer silver:  318.207 million oz

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The total number of notices filed today for the JAN 2020. contract month is represented by 52 contract(s) FOR 260,000 oz

To calculate the number of silver ounces that will stand for delivery in  JAN, we take the total number of notices filed for the month so far at 234 x 5,000 oz =1,170,000 oz to which we add the difference between the open interest for the front month of JAN. (119) and the number of notices served upon today 52 x (5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JAN/2019 contract month: 234 (notices served so far) x 5000 oz + OI for front month of JAN (119)- number of notices served upon today (52) x 5000 oz equals 1,500,000 oz of silver standing for the JAN contract month.

WE GAINED 1 CONTRACT OR AN ADDITIONAL 5,000 OZ WILL STAND FOR METAL AT THE COMEX AND REFUSE TO MORPH INTO LONDON BASED FORWARDS. BY DOING THIS THEY ALSO NEGATED RECEIVING A FIAT BONUS.

 

 

LADIES AND GENTLEMEN:  THE COMEX IS UNDER ASSAULT FOR BOTH PHYSICAL GOLD AND SILVER WITH SILVER IN THE LEAD BY FAR. DESPITE  MASSIVE RAIDS, LONGS CONTINUE WITH THEIR HUNT AT THE COMEX FOR PHYSICAL METAL.. IT WILL NOT BE LONG BEFORE WE WITNESS A COMMERCIAL FAILURE..STAY TUNED..WE WITNESSED CONSIDERABLE BANKER SHORT COVERING IN SILVER TODAY AND AN ATTEMPTED BANKER SHORT COVERING IN GOLD WITH ZERO SUCCESS.

 

 

TODAY’S NUMBER OF NOTICES FILED:

 

We, today, had 52 notice(s) filed for 260,000 OZ for the DEC, 2019 COMEX contract for silver

 

 

TODAY’S ESTIMATED SILVER VOLUME:  109,532 CONTRACTS //

 

 

CONFIRMED VOLUME FOR YESTERDAY: 97,524 CONTRACTS..

 

 

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 97,524 CONTRACTS EQUATES to 487 million  OZ   69.6% OF ANNUAL GLOBAL PRODUCTION OF SILVER..makes sense!!

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44

 

end

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

NPV for Sprott

 

1. Sprott silver fund (PSLV): NAV FALLS TO -1.60% ((JAN 3/2019)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.44% to NAV (JAN 3/2019 )
Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/ -1.60%

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):

NAV 15.48 TRADING 14.88///DISCOUNT  3,88

 

END

 

 

 

 

And now the Gold inventory at the GLD/

JAN 3/WITH GOLD UP $24.60: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.05 TONES INTO THE GLD../INVENTORY RESTS AT 895.30

JAN 2/2020//WITH GOLD UP $5.20: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 893.25

DEC 31/WITH GOLD UP $4.65: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 893.25 TONNES

DEC 30//WITH GOLD UP $2.05//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 892.37 TONNES

DEC 27/WITH GOLD UP $4.10 TODAY: A BIG  CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER DEPOSIT OF 3.51 PAPER TONNES INTO THE GLD////INVENTORY RESTS AT 892.37 TONNES

DEC 26/WITH GOLD UP $9.85 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER DEPOSIT OF 2.93 TONNES INTO THE GLD.///INVENTORY RESTS AT 888.86 TONNES

DEC 24/WITH GOLD UP $14.60//NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 885.93 TONNES

DEC 23/WITH GOLD UP $7.75: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.64 TONNES OF PAPER GOLD INTO THE GLD////INVENTORY RESTS AT 885.93 TONNES

DEC 20/WITH GOLD DOWN $3.15 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 883.29 TONNES

DEC 19/WITH GOLD UP $6.65 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER DEPOSIT OF 2.65 TONNES INTO THE GLD///INVENTORY RESTS AT 883.29 TONNES

DEC 18/WITH GOLD DOWN $2.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 5.56 TONNES FROM THE GLD////INVENTORY RESTS AT 880.66 TONNES

DEC 17/WITH GOLD UP $.30 TODAY: 1 SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .29 TONNES/INVENTORY RESTS AT 886.22 TONNES

DEC 16//WITH GOLD DOWN $.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 885.93 TONNES

DEC 13/ WITH GOLD UP $8.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 885.93 TONNES

DEC 12/WITH GOLD DOWN $2.65: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 885.93 TONNES

DEC 11/WITH GOLD UP $7.00: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .30 TONNES/INVENTORY RESTS AT 885.93 TONNES

DEC 10//WITH GOLD UP $3.00: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 886.23 TONNES

DEC 9//WITH GOLD DOWN $.60: A HUGE PAPER WITHDRAWAL OF GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.34 TONNES//INVENTORY RESTS AT 886.23 TONNES

DEC 6//WITH GOLD DOWN $16.75 NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 888.57 TONNES

DEC 5/2019: WITH GOLD UP $3.60 TODAY: A  SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF .59 TONNES/INVENTORY RESTS AT 888.57 TONNES

DEC 4/2019/WITH GOLD DOWN $4.00 TODAY//NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 889.16 TONNES

DEC 3/WITH GOLD UP $15.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 7.32 TONNES/INVENTORY RESTS AT 889.16 TONNES

 

DEC 2 /WITH GOLD DOWN $.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 895.60 TONNES

NOV 29/WITH GOLD UP $9.85//A SMALL  CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL TO PAY FOR FEES ETC./INVENTORY RESTS AT 895.60 TONNES

 

NOV 27//WITH GOLD DOWN $6.10 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 896.48 TONNES//

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

JAN 3/2019/Inventory rests tonight at 895.30 tonnes

*IN LAST 736 TRADING DAYS: 42.15 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 636 TRADING DAYS: A NET 124.90 TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY.

 

end

 

Now the SLV Inventory/

JAN 3/2020//WITH SILVER UP 12 CENTS TODAY: ANOTHER HUGE PAPER WITHDRAWAL OF 1.176 MILLION OZ  IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 361.440  MILLION OZ///

SINCE DEC 23 WE HAVE HAD A 94 CENT GAIN CORRESPONDING TO A 2.39 MILLION OZ OF PAPER WITHDRAWALS..AN ABSOLUTE FRAUD!

JAN 2/2020/WITH SILVER UP 12 CENTS TODAY: A HUGE PAPER WITHDRAWAL OF 1.214 MILLION OZ FROM THE SLV INVENTORY: INVENTORY RESTS AT 362.616 MILLION OZ

DEC 31/WITH SILVER DOWN 7 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 363.830 MILLION OZ//

DEC 30/WITH SILVER UP 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.830 MILLION OZ//

DEC 27/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.830 MILLION OZ

DEC  26//WITH SILVER UP 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.830 MILLION OZ//

DEC 24/WITH SILVER UP 32 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.830 MILLION OZ///

 

DEC 23/WITH SILVER UP 26 CENTS TODAY: A HUGE PAPER WITHDRAWAL OF 1.028 MILLION PAPER OZ IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.830 MILLION OZ//

DEC 20/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 364.858 MILLION OZ//

DEC 19/WITH SILVER UP 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 364.858 MILLION OZ//

DEC 18/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 364.858 MILLION OZ//

DEC 17//WITH SILVER DOWN 5 CENTS TODAY: A FAIR SIZED CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 747,000 OZ FROM THE SLV/INVENTORY RESTS AT 364.858 MILLION OZ/?

DEC 16/WITH SILVER UP 12 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 365.605 MILLION OZ//

DEC 13//WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 365.605 MILLION OZ//

DEC 12/WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 365.605 MILLION OZ

DEC 11/WITH SILVER UP 13 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 365.605 MILLION OZ//

DEC 10//WITH SILVER UP 5 CENTS TODAY:  A BIG CHANGE IN SILVER INVENTORY: A PAPER WITHDRAWAL OF 1.495 MILLION OZ//// INVENTORY RESTS  AT 365.605 MILLION OZ//

DEC 9/WITH SILVER UP 3 CENTS TODAY: A HUGE PAPER WITHDRAWAL OF 1.869 MILLION OZ FROM SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 367.100 MILLION OZ/

DEC 6/WITH SILVER DOWN 42 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 368.969 MILLION OZ//

DEC 5//WITH SILVER UP 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 368.969 MILLION OZ//

DEC 4/WITH SILVER DOWN 31 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 368.969 MILLION OZ//

DEC 3//WITH SILVER UP 25 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 1.512 MILLION OZ FROM THE SLV.//INVENTORY RESTS AT 368.969 MILLION OZ..

DEC 2/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 370.481 MILLION OZ

NOV 29/WITH SILVER UP 4 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 2.383 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 370.481 MILLION OZ//

 

NOV 27/WITH SILVER DOWN 8 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 1.868 MILLION OZ OF SILVER FROM THE SLV///INVENTORY RESTS AT 372.864 MILLION OZ//

 

 

JAN 3.2020:  SLV INVENTORY

361.440 MILLION OZ

 

LIBOR SCHEDULE AND GOFO RATES:

 

 

YOUR DATA…..

6 Month MM GOFO 1.96/ and libor 6 month duration 1.91

Indicative gold forward offer rate for a 6 month duration/calculation:

G0LD LENDING RATE: – .05

 

XXXXXXXX

12 Month MM GOFO
+ 1.97%

LIBOR FOR 12 MONTH DURATION: 1.99

 

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.02

 

 

 

end

 

PHYSICAL GOLD/SILVER STORIES
i) GOLDCORE BLOG/Mark O’Byrne

 

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

In this report, China’s cut of dollar weighting will propel global growth and also gold/silver accumulation

(South China Morning post/GATA)

China’s cut of dollar weighting in key index will boost global fortunes of yuan, economists say

 Section: 

By Orange Wang
South China Morning Post
Thursday, January 2, 2020

China’s decision to cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan will help Beijing’s long-term efforts to weaken the international dominance of the American currency, economists said.

The China Foreign Exchange Trade System (CFETS), a unit of the Chinese central bank, on Wednesday trimmed the weighting of the U.S. dollar to 21.59 percent from 22.40 percent in a key yuan exchange index to make it “more representative” of current trade conditions.

… 

The new version of the index will be based on 2018 trade data, rather than data from 2015, when the CFETS was established.

The move, which comes amid heightened trade tensions between China and the United States, will help Beijing’s long-term efforts to create an alternative international payments system, economists said.

“The yuan hopes to become a reserve currency, to prevent the situation where the U.S. dollar dominates the global financial system — or the so-called hegemony of the dollar. This is a longer-term goal … and an inevitable trend,” said Shen Jianguan, vice-president and chief economist at JD Digits, although he added the adjustment also reflected changes to China’s trading environment. …

… For the remainder of the report:

https://www.scmp.com/economy/china-economy/article/3044353/chinas-cut-us…

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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END

Why is the Fed bailing out Wall Street and not the consumer?

(courtesy Pam and Russ Martens/Wall Street on Parade)

Pam and Russ Martens: Why does only Wall Street have access to the Fed’s money machine?

 Section: 

By Pam and Russ Martens
Wall Street on Parade
Thursday, January 2, 2020

Consumers represent two-thirds of gross domestic product in the United States. And yet when consumers run into trouble, they don’t get a handout from the Federal Reserve — they are forced to file bankruptcy. There are no Fed handouts to small business owners, farmers, or Main Street merchants either.

So why is it exactly that the trading houses on Wall Street, with a serial history of crimes and with the most overpaid and under-punished executives on the planet, are able to perpetually have secret communications with the New York Fed and magically turn on the flow of trillions of dollars of ridiculously cheap loans to bail out their hubris and corruption?

… 

The obscene money spigot from the New York Fed to Wall Street’s trading houses didn’t start with the epic financial crisis of 2008, as most Americans believe. It started following the dot.com bust, which was fueled by fraudulent research from Wall Street’s trading houses. The money from the Fed to Wall Street simply flowed under the cover of the 9/11 crisis. …

… For the remainder of the commentary:

https://wallstreetonparade.com/2020/01/why-is-wall-street-the-only-indus…

Why Is Wall Street the Only Industry in America With Access to the Fed’s Endless Money Machine?

By Pam Martens and Russ Martens: January 2, 2020

Consumers represent two-thirds of GDP in the United States. And yet, when consumers run into trouble, they don’t get a handout from the Federal Reserve – they are forced to file bankruptcy. There are no Fed handouts to small business owners, farmers, or main street merchants either.

So why is it exactly that the trading houses on Wall Street, with a serial history of crimes and with the most overpaid and under-punished executives on the planet, are able to perpetually have secret communications with the New York Fed and magically turn on the flow of trillions of dollars of ridiculously cheap loans to bail out their hubris and corruption.

The obscene money spigot from the New York Fed to Wall Street’s trading houses didn’t start with the epic financial crisis of 2008, as most Americans believe. It started following the dot.com bust, which was fueled by fraudulent research from Wall Street’s trading houses. The money from the Fed to Wall Street simply flowed under the cover of the 9/11 crisis.

The emotional toll of 9/11 has caused a memory lapse among most Americans to the reality that the stock market and Wall Street were in freefall before 9/11 occurred. The Nasdaq stock market had closed at 1695 on the day before September 11, 2001 – a stunning 66 percent drop from its peak in March of 2000. The dot.com bust had led to one of the largest destructions of U.S. wealth in stock market history. The New York Times’ Ron Chernow wrote about the dire conditions on Wall Street six months before 9/11, penning this: “Let us be clear about the magnitude of the Nasdaq collapse. The tumble has been so steep and so bloody — close to $4 trillion in market value erased in one year — that it amounts to nearly four times the carnage recorded in the October 1987 crash.”

John Williams, President of the Federal Reserve Bank of New York

John Williams, President of the Federal Reserve Bank of New York

The Federal Reserve not only bailed out Wall Street after 9/11 but it carefully coordinated its public remarks about that bailout. At a teleconference call on the morning of September 17, Fed Chairman Alan Greenspan effectively warned the Fed governors to keep a lid on how much they shared with the public. According to the transcript of the call, Greenspan stated:

GREENSPAN: “For the time being, all of our remarks should be coordinated and made as official statements of the Federal Open Market Committee. As a consequence, when you are out talking — as indeed I think you obviously have to be — there is no reason why you cannot discuss what we have in fact done in areas such as the payments system and the swap lines. We can discuss issues relating to the effects of this disruption, including the bulging of the Federal Reserve’s balance sheet and the ultimate expectation that within a reasonably short period of time it will converge back to normal, as well as other issues of that nature. I would stay away from commenting on what we did just now and I would refrain from speculating about the American economy. There is no way to discuss the outlook for the American economy without discussing monetary policy or implying in somewhat precise form what the options may be…If there are any statements coming out of the Federal Reserve, we have to make certain that they are coordinated and that we all effectively agree on the statements that we make.”

The Fed’s money spigot to Wall Street after 9/11 took multiple forms: banks were allowed to overdraft their reserve accounts at the Fed to the tune of tens of billions of dollars and fees for these overdrafts were waived. According to a report from the New York Fed, an “unprecedented” amount of liquidity was pumped into the system. The Congressional Research Service quantified the “unprecedented” amount as “$100 billion per day” over a three-day period beginning on 9/11. But the bailout did not last just a few days or weeks. The consolidated annual reports of the Federal Reserve Banks show that the Fed’s balance sheet grew from $609.9 billion at the end of 2000 to $654.9 billion at the end of 2001 to $730.9 billion at the end of 2002 and $771.5 billion as of December 31, 2003.

Those vast dollar amounts suggest that the Fed bailout was really about shoring up the liquidity of the Wall Street banks after they brought on the Nasdaq crash as a result of the banks’ corrupt practices of pumping and dumping stocks they called “dogs” and “crap” in internal messages while they peddled them to unwary investors as great new start-up companies.

Then there was the Fed’s secret $29 trillion bailout from 2007 to 2010 following another period of epic corruption on Wall Street, this time involving bundled packages of subprime debt which the Wall Street banks knew from internal reports was doomed to fail. Wall Street banks brought down the entire U.S. economy and housing market while using the largesse from the Fed to reward their top executives with big bonuses and golden parachutes.

The Fed did more than just attempt to control the narrative of its massive bailout to the Wall Street banks. It fought a court battle for multiple years, refusing to name the recipient banks and the dollar amounts of its bailouts to them. Thanks to an amendment by Senator Bernie Sanders on the Dodd-Frank financial reform legislation of 2010, the Government Accountability Office (GAO) was forced to produce an audit of the Fed’s so-called “emergency loans” from December 2007 to July 21, 2010. The GAO tallied up $16.1 trillion in revolving loans, a significant part of which was made against dodgy collateral like junk bonds and stocks at a time when both markets were tanking – violating the age-old mandate that the Fed must make loans against good collateral like U.S. Treasury securities.

The Fed also violated its mandate of making loans to only solvent institutions. For a good portion of the time the Fed was making loans at less than one percent interest to Citigroup, it was clearly an insolvent institution that couldn’t have obtained loans in the private market at even double-digit interest rates.

The GAO’s audit acknowledged that it did not cover all of the Fed’s secret loans to Wall Street. After losing its court appeal, the Fed was forced to turn over its data to the media. That resulted in the Levy Economics Institute finishing the GAO’s work, with a tally of $29 trillion in cumulative bailout funds from the Fed to save the Wall Street banks and their derivative counterparties. The bulk of that was funneled out by the New York Fed.

Beginning on September 17 of this year, when Wall Street became unnerved that overnight loan rates spiked to 10 percent from an average of 2 percent, the New York Fed once again turned on its money spigot to Wall Street’s trading houses. On every business day since September 17, the New York Fed has been gushing out tens of billions of dollars to Wall Street. And, once again, it will not tell the public which trading houses are getting this money, how much each is getting, or why these banks need this money.

The cumulative total of these Fed loans since September 17 is now in the trillions of dollars. As of this morning, the New York Fed was pumping out this money at a ridiculously low rate of interest of 1.55 percent. Without the Fed’s artificial loan market, these loans would cost 10 percent or more.

All that we are allowed to know from the Fed about where this money is going is that its 24 “primary dealers” are allowed to borrow under this program. (See list below.) For the most part, those are the same trading units of the same Wall Street banks that got obscene loans after 9/11 and during the epic crash of 2007 to 2010.

The credit card divisions of many of these same banks are charging struggling American consumers an average of 17 percent on their credit cards while another part of the bank is borrowing at 1.55 percent from the Fed.

As Senator Bernie Sanders said after the GAO released its audit of the Fed, this is “socialism for the rich, and rugged, you’re-on-your-own individualism for everyone else.”

The Fed’s actions represent an outrage of epic proportions and yet you will not find one mainstream newspaper in America that believes what the Fed is doing is worthy of a front-page headline.

Federal Reserve's 24 Primary Dealers as of October 7, 2019 (Source -- Federal Reserve Bank of New York)

Federal Reserve’s 24 Primary Dealers (Source: Federal Reserve Bank of New York)

END

Brought this to your attention yesterday but it is worth repeating. Helicopter money is here as over 400 billion of USA debt has been monetized

(zerohedge/GATA)

Zero Hedge: Helicopter money is here — how the Fed monetized billions in debt sold just days earlier

 Section: 

8:20p ET Thursday, January 2, 2019

Dear Friend of GATA and Gold:

Zero Hedge shows tonight how the Federal Reserve is quickly monetizing debt recently issued by the Treasury Department, purchasing it from the Fed’s primary dealers just days after they purchased it, paying the primary dealers a service fee to boot.

… 

So “helicopter money” and Modern Monetary Theory, Zero Hedge notes, are in effect already. But they can’t succeed without aggressive suppression of commodity prices. Otherwise the currency is destroyed as inflation becomes visible in more than financial asset prices:

http://www.gata.org/node/19556

Zero Hedge’s report is headlined “Helicopter Money Is Here: How the Fed Monetized Billions In Debt Sold Just Days Earlier” and it’s posted here:

https://www.zerohedge.com/markets/helicopter-money-here-how-fed-monetize…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

END

Alasdair Macleod now states that the gold price suppression scheme is beginning to fail

(Alasdair Macleod/GATA)

Alasdair Macleod: Gold price suppression scheme is starting to fail

 Section: 

10:11p ET Thursday, January 2, 2020

Dear Friend of GATA and Gold:

In “Gold’s Outlook for 2020,” GoldMoney research director Alasdair Macleod describes in detail the imminent failure of central bank policy for gold price suppression.

“From the U.S. government’s point of view,” Macleod writes, “gold as a rival to the dollar must be quashed, and the primary purpose of futures options and forwards is to expand artificial supply to keep the price from rising. In a wider context, the ability to print synthetic commodities out of thin air is a means of suppressing prices generally and we must not be distracted by claims that derivatives improve liquidity. They improve liquidity only at lower prices.

… 

“When the dollar price of gold found a major turning point on December 17, 2015, open interest on Comex stood at 393,000 contacts. The year-end figure today is nearly double that at 786,422 contracts, representing an increase of paper supply equivalent to 1,224 tonnes. But that is not all.

“Not only are there other regulated derivative exchanges with gold contracts, but also there are unregulated over-the-counter markets. According to the Bank for International Settlements from end-2015 unregulated OTC contracts (principally London forward contracts) expanded by the equivalent of 2,450 tonnes by last June, taken at contemporary prices. And we must not forget the unknown quantity of bank liabilities to customers’ unallocated accounts, which probably involve an additional few thousand tonnes.

“In recent months, the paper suppression regime has stepped up a gear, evidenced by Comex’s open interest rising. …

“The rising gold price has seen increasing paper supply, which we would expect from a market designed to keep a lid on prices. Secondly, instead of declining with the gold price, open interest continued to rise following the price peak in early September while the gold price declined by about $100. This tells us that the price suppression scheme has run into trouble, with large buyers taking the opportunity to increase their positions at lower prices.

“In the past bullion banks have been able to put a lid on prices by creating Comex contracts out of thin air. The recent expansion of open interest has failed to achieve this objective, and it is worth noting that the quantity of gold in Comex vaults eligible for delivery and pledged is only 2% of the 2,446-tonne short position.

“In London there are only 3,052 tonnes in LBMA vaults (excluding the Bank of England), which includes an unknown quantity of exchange-traded-fund and custodial gold. Physical liquidity for the forward market in London is therefore likely to be very small relative to forward deliveries. And of course,the bullion banks in London and elsewhere do not have the metal to cover their obligations to unallocated account holders, which is an additional consideration.

“Clearly, there is not the gold available in the system to legitimize derivative paper. It now appears that paper gold markets could be drifting into systemic difficulties with bullion banks squeezed by a rising gold price, short positions, and unallocated accounts. …”

Macleod’s analysis is headlined “Gold’s Outlook for 2020” and it’s posted at GoldMoney here:

https://www.goldmoney.com/research/goldmoney-insights/gold-s-outlook-for…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

END

iii) Other physical stories:

THE COMEX FRAUD IS MORE GARGANTUAN WHEN UNDER A MICROSCOPE

NICHOLAS BIEZANEK

to William and Harvey:

 

 

Is the COMEX and its perpetual manipulation an invincible fortress? I found it impossible to determine the real amount of precious metals actually delivered by the COMEX which is certainly not the same as all the propaganda detailing notices filed and contracts standing for delivery since such theoretical obligations mean less than nothing in the context of this lawless piranha infested cesspool which annually generates EFP transfers that exceed more than twice global annual mine production. Here are the results of an analysis of the true (if indeed ‘truth’ can be attributed to all the daily reports that the CME feels compelled to ‘disclaim’) COMEX withdrawals from 12th July 2019 to 31st December ,which is virtually a complete half year. No metal ever leaves any depository’s registered category of either gold or silver (never ,ever) and for this reason I ignore transfers between eligible and registered categories which occur both ways and are just meaningless paper adjustments.For the record the net transfers within the same depositories in these six month were:Registered Gold +31 tonnes:Eligible Gold-31 tonnes : Registered Silver-22 million ounces:Eligible Silver+22 million ounces.A special thanks to JP Morgan for not complicating this physical delivery analysis. Not one ounce of gold was delivered from the JP Morgan depository but on one day,4th September, 407K ounces of silver were “withdrawn”.JP Morgan holds 51% of all COMEX silver inventory but only one small delivery in 6 months. This would be extremely anomalous unless all the rumours have substance.

 

GOLD

Gold was relatively comatose up to 5th December and only 5.19 tonnes were withdrawn in the previous 5 months.Then in the last few days of December the total in this analyzed ‘half year’ increased to 27.67 tonnes.The principal depositories contributing to these 27.67 tonnes of withdrawals were: HSBC (51.30%),International Delaware (28.07%),Nova Scotia (8.93%), Brinks (9.07%) and the remainder ( 2.63%).Thanks to Harvey Organ’s meticulous archiving, we can compute a fractional reserving ratio of the above withdrawals to the 3,109 tonnes of EFPs issued in this exact same period of 173 days at 0.89%,meaning that the COMEX delivers less than I tonne of gold for every 100 tonnes of EFPs transfers.

 

HSBC holds 62% (167 tonnes) of all COMEX Gold and further pledged an additional 7.39 tonnes on 12th November.HSBC has now delivered 14.19 tonnes after delivering less than 2 tonnes in the first 5 months of this period. Some informed commentators believe HSBC is a catastrophe dwarfed only by Deutsche Bank . HSBC is the custodian of SLV,which, like its counterpart GLD,has been totally plundered. Can an organization like HSBC allow SLV to be plundered in London but have a different set of corporate values in NY,which protect the integrity of its COMEX depositories? No wonder the COMEX places a disclaimer on all reports prepared by these crooks.Just search ‘HSBC and drugs’ to get a better understanding of the true nature of the HSBC Group.

 

SILVER

 

54.579 million ounces of silver were withdrawn, itemized as follows: from Brinks (29.02%),Nova Scotia (27.66%),CNT (25.15%),HSBC (11.65%) and the other 6 depositories (6.53%).Again thanks to Harvey Organ’s meticulous archiving, we can compute a fractional reserving ratio of the above withdrawals to the 1.059 billion ounces of EFPs issued in this exact same period of 173 days at 5.14%,

meaning that the COMEX delivers 5 ounces of silver for every 100 ounces of EFPs created.

The above driblings of physical precious metal are all that sustains the greatest fraud and ponzi scheme ever invented by man.The illusion crafted by this infinite supply of COMEX naked short paper contracts is that such paper contracts bestow rights that are somehow pari passus with the possession of physical precious metal thus enabling this monumental aberration to underpin the  demonic construct of the COMEX whereby trading in this infinite supply of false promises has been elevated as the sole universal price discovery platform. The absurd and ever increasing level of open interest in NY clearly evidences that the CFTC has been instructed to ‘stay away’ in order to preserve their ongoing pay cheques and pensions and the UK regulators have admitted complete abdication from even attempting to unravel the mechanism,structure and consequences of EFP transfers. Andrew Maguire is on record recently as stating that such EFP liabilities have not migrated from NY to be incinerated in a fiery London crematorium but remain a continuing dangling liability for eventual settlement.(What is scandalous beyond comprehension is that the regulators have no clue at all). The aggregate EFP volumes in the last two years are 13,518 tonnes of gold and 5.112 billion ounces of silver.The only certainty is that the word ‘physical’ has been hijacked in the nomenclature of these EFP transfers and no physical metal at all is involved.

 

It is now 6 years past the very end date of Frank Veneroso’s seminal calculations and the unsustainable strain of maintaining price equivalence between fraudulent undeliverable naked short paper contracts and possession of real physical gold/silver is fracturing .EFP transfers are the final throw of the dice to maintain the fraud, but it is the LBMA that is the bigger ‘heart of darkness’. Informed calculations, which are never ever rebutted, suggest that fractional reserving of total allocated LBMA gold liabilities approaches 100/1.The LBMA has now released details of total,loco London vaulted gold as at 30th September 2019, and ,after adjusting for BOE and GLD, the net residual LBMA vault gold is only 2,183 tonnes which is all that is available to satisfy,inter alia, the aggregate of allocated gold liabilities upwards of 100,000 tonnes.(You surely don’t believe in unallocated gold as anything other than a fiat loan to the LBMA crooks,do you?) Andrew Maguire made the observation that the moment there is any recognized price bifurcation between an ounce of physical precious metal and the quoted price for an undeliverabe paper promise, COMEX futures trading will consigned to the dustbin of history. 2020 commences with an ever escalating gold Open Interest of +2,400 tonnes complimenting EFP monthly related fractional reserving of more than 100/1 and LBMA fractional reserving of 100/1. They have constructed a man made collaborative abomination founded on false promises which will succumb to the strength and purity of gold’s eternal value, forged by supernova nucleosynthesis long before the dawn of time.

end

Physicals Are Found in the Earth, Paper Mâché Is Found in the Markets

Great and Wonderful First Friday of 2020 Folks,

We start the day off with Gold trading higher with the “now” price at $1,548.90, up $20.80 after reaching $1,554.00 from a low of $1,530.40. Silver is still Silver, even when bombs that may require this metal are dropped, with the trade at $18.22, up 17.4 cents after hitting $18.325 with its starting point at $18.055 during the overnight. The US Dollar is getting supported as well with its value pegged at 96.685, up 16 points after the trade reached up to 96.795 with the low at 96.395. Of course, all this was done before 5 am pst, the Comex open, the London close, and after the Iranian leaders sent one of their general’s, along with support units, into a land not their own, in order to make a statement against our country. That’s a very special kind of stupid right there!

In Venezuela, Gold now has a value pegged at 15,469.64 Bolivar, proving a gain of 233.71 overnight with Silver now getting 181.972 Bolivar for an ounce, a gain of 2.547. In Argentina, Gold is now priced at 92,535.86 Peso’s proving a gain of 1,268.20 Peso’s in a single night with Silver at 1,087.47 A-Peso’s, a gain of 12.68. In Turkey, where the hostile activities are much closer to their borders, Gold is now priced at 9,252.18 Lira proving a gain of 160.54 with Silver gaining 1.774 with its price at 108.841 T-Lira.

January Silver Deliveries now show a demand count of 119 fully paid for contracts waiting for receipts and with a Volume of 51 up on the board so far this morning with a trading range at $18.11. Yes, that again is the high/low/last and up 14.4 cents from yesterday’s 2 Volume trade that caused the market to settle lower than the physicals, which were purchased at $17.99 and $17.98, yet the Comex adjusted settlement is at $17.966. The physical demand count fell by 97 contracts during yesterday’s trade proving something we can’t confirm with simple Comex accounting. Either these receipts got settled here into physicals, transferred into a warehouse at the Comex, or were sent to London via EFP paper, so it can be sent back here in a pump and dump fashion again (maybe).

The Overall Open Interest in Silver now has a count of 231,162 Overnighters proving the point that 1,462 more short contracts, had to be created out of thin air, to offset the buy orders to neutralize the price more than it should. Comex shorts are only 13,034 contracts away from breaking new all-time high territory. At the same time this is going on, Gold is doing the Silver “thang” as more and more short contracts had to be created in order to tell the buyers, how worthless it is to hold real money against the paper. Gold’s new life of contract high in paper, not price, is now at 787,920 Overnighters.

The definition for the term “Overnighters” is the total amount of “buyers” and “sellers” combined. These Overnighters are algo positions as well as the individuals and hedge funds, willing to keep their money at risk over a 24-hour period. Open Interest is the proper term for this, yet the explanations are the same. Regardless, both precious metals have huge increases in paper contracts but not the physicals. Physicals are only found in the earth and it is limited, unlike the paper mâché used to control the price in the markets.

A Commercial Signal Failure may be set up right here and now! I’ve been involved with a few of these events in the commodities sector over the past few decades with vivid memories when Corn, Soybeans, Wheat, and Cattle, which all blew out the shorts when they discovered they were on wrong side of the trade. Over the past few years, the controllers of paper have had their day, it may be the time when the paper game loses to rock (in paper, rock, scissors fashion). We will know for sure when physicals, needed to supply the game of paper, cannot be found at the Comex. All that can be said now is stay tooned, we’re still waiting in a game where the waiting is the hardest part!

Enjoy your weekend, keep a positive attitude in the head no matter what, keep your metals as close to you as family, and as always …

Stay Strong!

J. Johnson

end

Due to the criminal conviction of trader Edmonds, the USA prosecution is seeking to halt the civil lawsuit. I was misinformed: all discoveries in a civil suit are public and because of that, the prosecution gives the defendants the right to plead the 5th if their testimony incriminates them
(courtesy zerohedge/Chris Powell)

US seeks halt in civil lawsuit accusing JP Morgan of manipulating metals market, citing criminal case

  • The U.S. wants a federal judge to halt a civil lawsuit accusing J. P. Morgan of manipulating precious metals markets. The Justice Department cited an ongoing criminal case as its reason for the request.
  • A former J. P. Morgan trader pleaded guilty in Connecticut last month to manipulation charges.
  • In the guilty plea, the trader said he had learned to make bogus trade orders from senior traders at the bank and that he used the strategy hundreds of times with the knowledge and consent of his immediate supervisors.

A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in New York.

Amr Alfiky | Reuters
A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in New York.

The Justice Department is asking a judge to put the brakes on a civil lawsuit against J. P. Morgan Chase, citing an ongoing probe into a “related criminal case” that involves alleged manipulation of precious metals markets.

The department wants a six-month postponement in the proceedings of the civil lawsuit, which was filed in 2015 by hedge fund manager Daniel Shak and two commodity traders. The government also says it could ask for a longer delay in the case, according to a court filing on Monday.

The move comes days after Shak’s lawyer, David Kovel, sought permission to reopen questioning of two former J. P. Morgan traders and the bank’s current global head of base and precious metals trading.

Kovel, in making the request with the Manhattan federal judge in the civil case, cited last month’s guilty plea by one of those former traders, John Edmonds, in federal court in Connecticut.

Edmonds admitted making bogus bids on precious metals contracts while working at the bank from 2009 to 2015.

Neither J. P. Morgan Chase nor Kovel’s clients have opposed the Justice Department’s request.

In arguing for a delay, the Justice Department said Shak’s lawsuit is “related” to Edmonds’ criminal case and that Edmonds has “pleaded guilty and acknowledged his own participation in such conduct, as well as that of other traders.”

“Edmonds awaits sentencing, but the broader investigation is ongoing,” the Justice Department said. The U.S. wants to delay the civil case “to protect the integrity of its ongoing criminal investigation,” it said.

J. P. Morgan did not respond to a request for comment by CNBC. Kovel declined to comment.

Tuesday night, after this story first was published, Judge Paul Engelmayer ordered the federal prosecutors to explain in detail by Monday why postponing proceedings in the civil lawsuit would not harm those involved, and why reopening questioning “would be detrimental to the Government’s ongoing criminal investigation.”

Englemayer also wrote that he regards Edmonds’ guilty plea “as potentially highly consequential” to the civil case.

In his guilty plea, the 36-year-old Edmonds said he had learned to make bogus trade orders from senior traders at the bank and that he used the strategy hundreds of times with the knowledge and consent of his immediate supervisors. He admitted to working with “unnamed co-conspirators” at J. P. Morgan, according to the Justice Department.

Kovel wants to question Edmonds again as well as Michael Nowak, the bank’s global head of base and precious metal trading, and former J. P. Morgan Chase Managing Director Robert Gottlieb. The three had previously answered questions under oath in the civil case.

Kovel said in court filings that Nowak was the immediate supervisor of Edmonds, while Gottlieb was Edmonds’ mentor.

In his prior deposition, Edmonds said that Gottlieb sat only a “couple feet” away from him for about five years, and that he was “somebody [he] looked up to in the business,” who helped guide and train him.

Nowak is described by Edmonds as his direct supervisor, with whom he would sometimes discuss trading strategies. Nowak was also the person responsible for overseeing the performance and risk of Edmonds’ portfolio, according to the deposition.

Edmonds also stated in his prior deposition that he would enter precious metals trades for both Nowak and Gottlieb, among others.

The civil lawsuit claims Shak and his fellow plaintiffs lost tens of millions of dollars as a result of actions by J. P. Morgan’s traders.

A federal judge tells traders that they can combine cases (with the other 6 banks) as they accused JPMorgan of rigging the precious metals market
(courtesy CNBC)

Federal judge tells traders they can combine cases accusing JP Morgan of rigging metals market

  • Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.
  • Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action.

71671201

Spencer Platt | Getty Images

A group of traders from across the U.S. who allege that J. P. Morgan Chase manipulated precious metals markets for years are one step closer to bringing a class action suit against the nation’s largest bank.

Earlier this month, a federal judge said five separate lawsuits making similar allegations against the bank could be combined, potentially including thousands of people who traded in the precious metals market from Jan. 2009 through Dec. 2015.

Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.

J. P. Morgan declined to comment on this story.

Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action.

Vincent Briganti, a partner at the firm, filed the first suit seeking class action status in November on behalf of Dominick Cognata, a trader who alleges he suffered losses due to J.P. Morgan’s illegal trading conduct in the silver and gold futures and options markets.

That was after the federal court in Connecticut unsealed a criminal plea agreement by John Edmonds, a former J.P. Morgan metals trader. In his guilty plea, Edmonds, who is 36-years old, admitted that he and other “unnamed co-conspirators” fraudulently manipulated the precious metals markets while they were employed at J. P. Morgan from 2009 to 2015.

Edmonds said he had learned the illegal trading tactics from senior traders, and then used them hundreds of times with the knowledge of and consent of his immediate supervisors.

Briganti’s lawsuit also names John Edmonds and a group of yet-to-be-identified precious metals traders and the bank as defendants.

On Wednesday, the lawyers sent a letter to Judge Koeltl saying they were having difficulty locating Edmonds to serve him legal papers and requested a 30-day extension to do so, which the judge granted on Thursday. Briganti noted that they have been in contact with Edmonds’ attorney in the criminal case. Edmonds’ attorney and Briganti could not be reached for comment.

“We are hopeful that this extension will result in completing service on Mr. Edmonds without formal motion practice and a request for alternative means of service,” Briganti said in the letter.

The next step in the civil case is for the plaintiffs to file an amended class action complaint and set a schedule for defendants to respond.

In addition to the proposed class action, J. P. Morgan also faces a separate civil suit which also accuses the bank of rigging precious metals markets.

end

March 4.2019

Parker City News

JP Morgan faces potential class action lawsuit after guilty pleas by a former metals trader

Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years.

At least six lawsuits, all making similar allegations against the nation‘s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut with a former J. P. Morgan Chase metals trader.

The cases could potentially include thousands of people who traded in the precious metals market. The White Plains, N.Y., law firm Lowey Dannenberg is asking the court to combine the cases and name it as the lead.

The law firm‘s commodities group is led by Vincent Briganti, the attorney who filed the first lawsuit on behalf of Dominick Cognata, a New York resident who alleges he suffered losses due to J. P. Morgan‘s trading conduct in the silver and gold futures and options markets.

A combined case, seeking class action status, would include anyone who purchased or sold futures contracts or an option on NYMEX platinum or palladium or COMEX silver or gold between at least Jan. 1, 2009, and Dec. 31, 2015. The lawyers believe that “at least hundreds, if not thousands” of traders would be eligible to join the case.

Named as defendants in all of the lawsuits are John Edmonds, a 36-year old former metals trader at J. P. Morgan, a group of yet-to-be-identified precious metals traders and the bank.

Edmonds, a New York resident, pleaded guilty in October to one count of conspiracy to defraud the market and manipulate prices of precious metals futures contracts and one count of commodities fraud. In the criminal plea, Edmonds admitted that he and other “unnamed co- conspirators” at J. P. Morgan, fraudulently manipulated precious metals markets from 2009 to 2015, the same time frame covered in the class action suits.

Briganti filed the initial class action on Nov. 7, just one day after the Justice Department unsealed Edmonds‘ plea in the U.S. District Court of Connecticut.

Edmonds admitted in his guilty plea that he deployed the illegal trading scheme hundreds of times with the direct knowledge and consent of his immediate supervisors. Plaintiffs say they have suffered economic injury, including monetary losses, as a direct result of actions by Edmonds and the other unnamed J. P. Morgan metals traders in the futures and options contracts.

One of the suits alleges that “the number of unlawful trades that JP Morgan traders executed in precious metals futures markets is at least in the thousands.”

J. P. Morgan declined to comment. Lowey Dannenberg did not respond to a request for comment by CNBC.

The Justice Department‘s criminal investigation is still ongoing and recently caused a separate related civil case to be put on hold for at least six months while the government continues its investigation. That civil lawsuit, which also accuses J. P. Morgan of rigging the precious metals market, was filed in 2015 by hedge fund manager Daniel Shak and two commodity traders.

After reviewing the details of the plea agreement, David Kovel, the attorney for Shak‘s suit, sought to re- interview Edmonds, along with two other current and former senior traders at the bank. However, the government argued that reopening questioning would be detrimental to the ongoing criminal investigation. The federal judge overseeing the proceedings ordered a six-month stay in the civil case.

Kovel declined to comment.

Edmonds was originally scheduled to be sentenced in Hartford, Conn., on Wednesday, Dec. 19, but a court filing on Nov. 27 shows the sentencing has been postponed until June. A spokesman for the U.S. Attorney for Connecticut could not elaborate on why the sentencing was postponed since the court filing is under seal.

-END-

Justice Department stalls another class action in gold market rigging, this one against JPM

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

Proceedings in the federal class-action anti-trust lawsuit against JPMorganChase charging the investment bank with manipulating the gold and silver futures markets —

http://www.gata.org/node/18844

— have been suspended for three months at the request of the U.S. Justice Department, just as the department has arranged suspension of proceedings in the class-action anti-trust lawsuit against Deutsche Bank charging similar market manipulation.

… 

In both cases the Justice Department has told U.S. District Court for the Southern District of New York that proceedings would jeopardize its criminal investigation into market rigging, which has been admitted by a former JPMorganChase trader, John Edmonds, who awaits sentencing.

According to court filings, the White Plains, New York, law firm representing the plaintiffs against JPMorganChase, Lowey Dannenberg, concurred in the government’s request to suspend proceedings. The stay is to continue for three months and may be extended.

The Justice Department’s motion, granted by the court on February 26 —

http://www.gata.org/files/JPMorganChaseClassActionStay.pdf

— said “the government is not seeking an open-ended stay that could indefinitely postpone this matter and thus jeopardize the parties’ interests in a timely resolution.” The motion added, “Any developments in the criminal case during the period the consolidated action is stayed may reduce or completely resolve the need to litigate certain issues in the consolidated action.”

Much of the Justice Department’s motion is redacted to conceal from the public evidence still under investigation. Edmonds has said he and other traders manipulated the gold and silver markets for years with the knowledge of their supervisors at JPMorganChase. In its motion to conceal that evidence, also granted by the court on February 26, the Justice Department said disclosure “could lead to destruction of evidence, flight from prosecution, and otherwise interfere with the government’s ability to conduct its investigation”:

http://www.gata.org/files/JPMorganChaseClassActionStaySeal.pdf

Monetary metals investors may be skeptical of the Justice Department’s stalling the Deutsche Bank and JPMorganChase cases, since the department and the U.S. Commodity Futures Trading Commission do not seem ever to have responded conscientiously to complaints of gold and silver market rigging until the class actions commenced.

How much time will the court give the Justice Department to delay getting to the bottom of the issue? The court might hasten matters if enough monetary metals mining companies protested the harm done to them and their shareholders by market rigging, but of course most monetary metals mining companies don’t mind at all.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Your early FRIDAY morning currency, Asian stock market results,  important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/7 AM EST

i) Chinese yuan vs USA dollar/CLOSED / LAST AT: 6.9726/ GETTING VERY DANGEROUSLY CLOSE TO 7:1

//OFFSHORE YUAN:  6.9697   /shanghai bourse CLOSED DOWN 1.41 POINTS OR 0.05%

HANG SANG CLOSED DOWN 92.02 POINTS OR 0.21%

 

2. Nikkei closed DOWN 181.10 POINTS OR 0.76%

 

 

 

 

3. Europe stocks OPENED ALL RED/

 

 

 

USA dollar index UP TO 97.05/Euro FALLS TO 1.1131

3b Japan 10 year bond yield: FALLS TO. –.01/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 108.10/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

 

3c Nikkei now JUST BELOW 17,000

3d USA/Yen rate now well below the important 120 barrier this morning

3e WTI:: 63.55 and Brent: 68.72

3f Gold UP/JAPANESE Yen UP CHINESE YUAN:   ON -SHORE DOWN/OFF- SHORE: DOWN

3g Japan is to buy the equivalent of 108 billion uSA dollars worth of bond per month or $1.3 trillion. Japan’s GDP equals 5 trillion usa./“HELICOPTER MONEY” OFF THE TABLE FOR NOW /REVERSE OPERATION TWIST ON THE BONDS: PURCHASE OF LONG BONDS AND SELLING THE SHORT END

Japan to buy 100% of all new Japanese debt and by 2018 they will have 25% of all Japanese debt. Fifty percent of Japanese budget financed with debt.

3h Oil UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.29%/Italian 10 yr bond yield DOWN to 1.34% /SPAIN 10 YR BOND YIELD DOWN TO 0.37%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.63: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.41

3k Gold at $1545.75 silver at: 18.17   7 am est) SILVER NEXT RESISTANCE LEVEL AT $18.50

3l USA vs Russian rouble; (Russian rouble DOWN 34/100 in roubles/dollar) 62.65

3m oil into the  63 dollar handle for WTI and 68 handle for Brent/

3n Higher foreign deposits out of China sees huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 108.10 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning .9727 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0835 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

3p BRITAIN VOTES AFFIRMATIVE BREXIT/LOWER PARLIAMENT APPROVES BREXIT COMMENCEMENT/ARTICLE 50 COMMENCES MARCH 29/2017

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.29%

The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.

4. USA 10 year treasury bond at 1.82% early this morning. Thirty year rate at 2.28%

5. Details Ransquawk, Bloomberg, Deutsche bank/Jim Reid.

6.  TURKISH LIRA:  UP  TO 5.9767..

Futures Tumble, Oil, VIX And Gold Soar As Markets Brace For Iran’s Response

It has been a turbulent start to 2020 with markets soaring on the first day of trading of the new year and decade, only to tumble overnight after a U.S. air strike in Iraq killed a top Iranian commander, sharply escalating geopolitical tensions in the Middle East and denting risk appetite, sending world markets sharply lower and US equity futures down more than 1% overnight…

…. while safe havens such as gold jumped…

… and oil soared $3 a barrel with safe havens such as Treasurys and the yen jumping.

At 5am ET, Dow e-minis were down 347 points, or 1.2%. S&P 500 e-minis EScv1 were down 44 points, or 1.35% and Nasdaq 100 e-minis were down 139.75 points, or 1.57%, while world stocks were a sea of red. Looking ahead, focus will be on magnitude of the response from Iran and the subsequent response to any measure by other regional powers and of course the US.

Iran’s Supreme Leader Ayatollah Ali Khamenei vowed “severe retaliation” after Suleimani was killed in the air strike in Baghdad that was authorized by President Donald Trump and Iraqi President Barham Salih condemned the move, while China urged restraint to avoid further tensions. Iranian Supreme Leader Khamenei said harsh revenge awaits those who assassinated Senior IRGC Commander Soleimani and added that the killing will double motivation for resistance against the US and Israel.

Iranian Revolutionary Guard Corp officer said Iran will take revenge on the US for the death of Soleimani, while Iranian Foreign Minister Zarif tweeted “The US’ act of international terrorism, targeting & assassinating General Soleimani is extremely dangerous & a foolish escalation”, and added that US will bear responsibility for all consequences. Iran’s top security body is to meet to discuss the “criminal attack” against Senior IRGC Commander Soleimani, according to a spokesperson quoted by FARS.

Shares of oil majors Exxon Mobil Corp and Chevron Corp rose 1.3% and 1.2%, respectively, in early premarket trading as oil prices jumped more than 4%. Occidental Petroleum Corp and Schlumberger rose about 2% each, leading premarket gains among S&P 500-listed stocks.

The VIX Index soared from its Thursday close around 12.50 to as high as 16, its biggest one day move a closing basis since August.

The Stoxx Europe 600 Index dropped 1% though energy companies bucked the retreat after West Texas oil rallied more than 4%. The Middle East-focused oil markets saw the most dramatic moves, with Brent crude futures jumping nearly $3, or 4.5%, to $69.20 a barrel – also to the highest since September.

Earlier in the session, Asian stocks reversed early gains as risk-on sentiment quickly faded amid surging Middle East tensions. The MSCI Asia Pacific excluding Japan Index fell 0.2%. Oil stocks rallied, with a sub-industry index jumping 0.8% on a spike in crude. Hong Kong’s Hang Seng Index reversed a rally, dragged by large financial stocks like China Construction Bank Corp. and HSBC Holdings Plc. Australia’s S&P/ASX 200 managed to stay in the green. Japan remained closed for a holiday

“Geopolitics has come back to the table, and this is something that could have major cross-asset implications,” said Lombard Odier’s chief investment strategist, Salman Ahmed.

The flare-up could “dash market hopes for a rebound of the global economy that is still to emerge from under the cloud of the U.S.-China trade war,” said Valentin Marinov, the London-based head of G-10 currency research at Credit Agricole SA. “Risk sentiment should remain fragile also because central banks may be slow to respond or simply no longer have the arsenal to respond in an adequate way.”

The assassination of Suleimani derailed a bullish mood that pushed the S&P 500 to a record high Thursday. Traders had returned from holidays to the news that China’s central bank had moved to support the economy and President Donald Trump expected to sign the first phase of a trade deal with the Asian nation on Jan. 15. Beijing has yet to confirm the date.

As traders fled risk, gold hit the highest in four months and the yield on 10-year Treasuries looked poised for the biggest drop in three weeks as government bonds globally rallied. Data showing German unemployment increased by more than forecast compounded the cautious mood in Europe, and the euro extended losses as the DAX Index led equity declines.

In FX, the yen advanced to the strongest since November, and the Swiss franc hit its highest against the euro since September. The Bloomberg Dollar Spot Index extended gains in the London session, with the Swedish krona and Australian dollar leading losses; the Swiss franc strengthened against the euro. Yields on 10-year Treasuries touched the lowest since Dec. 12; money markets now almost fully expect the Federal Reserve to cut interest rates in January 2021, compared with an 80% probability on Thursday.

In commodities, WTI and Brent are significantly firmer this morning, currently trading with gains in excess of $3/bbl and have eclipsed their overnight highs. In terms of the crux of the newsflow, overnight the US assassination of Iranian Military General Soleimani sparked significant upside for the complex and a broad risk-off tone. Subsequently, the Iranian Government has stated the response to this is not far away and will be strong.

Moving to metals, where spot golds action is also dictated by the risk-off geopolitical news. The yellow metal BRIEFLY just eclipsed the USD 1550/oz mark and of note is the 2019 high at USD 1557.11/oz; it is worth caveating that the USD is also experiencing a safe-haven bid this morning which will be hindering the precious metals progress.

Market Snapshot

  • S&P 500 futures down 1.1% to 3,223.50
  • STOXX Europe 600 down 0.7% to 416.66
  • MXAP down 0.04% to 171.85
  • MXAPJ down 0.2% to 556.75
  • Nikkei down 0.8% to 23,656.62
  • Topix down 0.7% to 1,721.36
  • Hang Seng Index down 0.3% to 28,451.50
  • Shanghai Composite down 0.05% to 3,083.79
  • Sensex down 0.5% to 41,439.23
  • Australia S&P/ASX 200 up 0.6% to 6,733.50
  • Kospi up 0.06% to 2,176.46
  • German 10Y yield fell 5.8 bps to -0.281%
  • Euro down 0.2% to $1.1149
  • Brent Futures up 3.6% to $68.60/bbl
  • Italian 10Y yield rose 0.2 bps to 1.243%
  • Spanish 10Y yield fell 5.2 bps to 0.393%
  • Brent Futures up 3.6% to $68.60/bbl
  • Gold spot up 1.3% to $1,548.28
  • U.S. Dollar Index up 0.1% to 96.94

Top Overnight News from Bloomberg

  • A U.S. airstrike in Iraq ordered by President Donald Trump killed one of Iran’s most powerful generals, sending global markets tumbling as Iran’s Supreme Leader threatened “severe retaliation”
  • Gold rose to a four-month high after the U.S. airstrike, while silver, platinum and palladium all advanced; Oil jumped toward $70 a barrel in London
  • The Federal Reserve may drop a hint on plans for the repo market in minutes of its December meeting, plus what it would take to shift the view among officials that interest rates are on hold all year
  • Just as the world economy was stabilizing after its worst performance in a decade, a U.S. airstrike in Iraq that killed one of Iran’s most powerful generals is a jolting reminder of how fragile the outlook remains
  • German unemployment rose at the end of 2019, signaling that Europe’s biggest economy remains mired in uncertainty as manufacturing contracts and the government resists calls for fiscal stimulus
  • Spain is set to finally get a new government after the acting premier, Pedro Sanchez, persuaded a Catalan separatist party to help him take office for a second term.

Asian equities failed to benefit from the rally seen by global peers in which the major bourses on Wall Street headed into the close in fresh record territory. Tech-giant Apple briefly surpassed the USD 300/shr milestone for the first time, whilst chip names were bolstered by AMD’s +7% surge after a 45% price target boost by analysts at Instinet. In overnight trade, US equity futures alongside regional bourses saw downside which coincided with reports of North Korea’s official newspaper warning of “immediate and powerful” strikes against threats and with sentiment dampened by concerns in the Middle East. Japanese markets remained closed amid an extended New Year holiday, whilst ASX 200 (+0.7%) was bolstered in early trade with all sectors initially in the green and with the heavily weighted financial sector leading the gains. Similarly, South Korea’s KOSPI (U/C) also saw early upside with heavyweight chipmaker SK Hynix advancing over 3% as semiconductor names piggy-backed on Wall Street’s stellar chip performance – similar gains were seen in TSMC shares at the Taiwan open. Hang Seng (-0.3%) was originally kept afloat by energy giants benefitting from the sudden rise in oil prices before the index conformed to the overall risk appetite, whilst Shanghai Comp (U/C) traded somewhat lacklustre following a net weekly liquidity drain of CNY 550bln by the PBoC.

 

Top Asian News

  • Top Iranian Commander Killed in U.S. Airstrike in Iraq
  • Here’s What You Need to Know About Asia Stock Markets Today
  • Hong Kong Dollar Surges to Strongest Since 2017 as Shorts Unwind
  • How Qassem Soleimani Helped Shape the Modern Mideast: QuickTake

European bourses are subdued this morning by the risk-off tone given geopolitical events in the middle-east which has dominated price action thus far (more information available in the Commodity section below, as well as the Newsquawk headline feed). Bourses are in negative territory across the board with no notable laggard; however, the FTSE 100 (-0.3%) is holding up somewhat better than its peers gleaning assistance from the upside in Energy names given the crude complex’s action, for instance BP (+1.7%), Shell (+1.4%). Additionally, at the tope of the FTSE 100, is Fresnillo (+2.4%) shining alongside other mining names given the safe-haven bid in gold today. In terms of sectors, unsurprisingly given the aforementioned newsflow, energy names are the only sector in positive territory; with the remaining sectors experiencing broad-based losses. In terms of individual movers, and sticking with the geopolitical tensions, flight names including Air France (-7.8%), Lufthansa (-7.0%) and easyJet (-3.5%) suffering on the higher oil prices. Aside from the crude-related movers, tobacco names are firmer this morning following on from the FDA’s issuance of new guidance. While UK gambling names were subdued at the open on reports that the gambling commission is considering a ban on VIP schemes in Britain; for reference, a number of the relevant Co’s are heavily dependent on such schemes.

Top European News

  • U.K. Consumer Credit Grows at Weakest Pace in Six Years
  • U.K. Construction in Longest Slump Since Financial Crisis
  • Commerzbank Buys Comdirect Shares From Petrus, Holds >90%

In FX, the Dollar revival from turn of the year and decade lows continues, as the DXY inches above 97.000 from sub-96.500, and the latest rebound has been fuelled by safe-haven demand amidst heightened US-Iran tensions following an airstrike reportedly sanctioned by President Trump targeting and killing an IRGC general. Technically, a clear breach of the big figure could see an extension or further retracement to Xmas Day lows of 97.344 ahead of 97.350, 97.500 and the high of December 27 (97.552) before the index slumped on all round Greenback selling.

  • JPY/XAU/CHF – The Yen and Gold are both still bucking the overall trend and outperforming due to their status as ultimate ports of security in a storm, though Usd/Jpy has bounced from circa 107.91 and Xau/Usd could not sustain momentum through the psychological 1500/oz level as the Buck built on gains more broadly, while chart watchers will be aware that support lies at 107.89 for the Dollar and last year’s Bullion peak was 1557.11. Elsewhere, the Franc remains somewhat betwixt and between, with Usd/Chf firmly elevated towards the upper end of a 0.9690-0.9743 range in stark contrast to Eur/Chf that is looking at 2019 lows within a 1.0825-55 band.
  • CAD/EUR/NOK/SEK/AUD/NZD/GBP – All victims of the aforementioned return to risk aversion, albeit to varying degrees as the Loonie and Norwegian Krona glean some protection/support from the spike in oil prices to trade back over 1.3000 vs the US Dollar and close to 9.8500 against the Euro respectively. However, the single currency has unwound more of its appreciation vs the Greenback and is now testing the 21 DMA (around 1.1128-30) having fallen below the 200 DMA (1.1142), while the Swedish Crown is back under 10.5000 in Euro cross terms and Antipodes even further away from recent pinnacles against their US counterpart, with Aud/Usd and Nzd/Usd sub-0.6950/0.6650 respectively. Finally, and fittingly in terms of current G10 rankings, Cable has given up more ground and another round number at 1.3100 in wake of a much weaker than forecast UK construction PMI.
  • EM – Widespread losses on the risk-off positioning, but again the pain for Turkey’s Lira has been more apparent after stronger than expected CPI data, the inflated cost of crude and ongoing geopolitical concerns all nudging Usd/Try closer to the 6.0000 handle.

In commoditis, WTI and Brent are significantly firmer this morning, currently trading with gains in excess of USD 3.0/bbl at present, and have eclipsed their overnight highs. In terms of the crux of the newsflow, overnight the US assassination of Iranian Military General Soleimani sparked significant upside for the complex and a broad risk-off tone. Subsequently, the Iranian Government has stated the response to this is not far away and will be strong. Looking ahead, focus will be on magnitude of the response from Iran and the subsequent response to any measure by other regional powers and of course the US. Elsewhere, today’s other focus point for the crude complex is the delayed EIA weekly metrics, although their impact on price action could be diminished given the geopolitical factors; nonetheless, expectations are for a headline draw of 3.288mln barrels, which is slightly smaller than the previous draw of 5.474mln barrels. Moving to metals, where spot golds action is also dictated by the risk-off geopolitical news. The yellow metal has, at best, just eclipsed the USD 1550/oz mark and of note is the 2019 high at USD 1557.11/oz; it is worth caveating that the USD is also experiencing a safe-haven bid this morning which will be hindering the precious metals progress. Elsewhere, iron ore hit its highest level for around 5-months as restocking continues ahead of the China New Year, as China produces around half of the global steel supply; support also stems from Brazil’s Iron ore exports posting a decline for the month of December. Foreign oil companies have reportedly evacuated employees who are US citizens from Iraq’s Basra., Company Sources; note this will not affect their production.

US Event Calendar

  • 10am: Construction Spending MoM, est. 0.4%, prior -0.8%
  • 10am: ISM Manufacturing, est. 49, prior 48.1
  • 2pm: FOMC Meeting Minutes

 

3A/ASIAN AFFAIRS

 

I)FRIDAY MORNING/ THURSDAY NIGHT: 

SHANGHAI CLOSED DOWN 1.41 POINTS OR 0.05%  //Hang Sang CLOSED DOWN 92.02 POINTS OR 0.32%   /The Nikkei closed DOWN 181.10 POINTS OR 1.97%//Australia’s all ordinaires CLOSED UP .66%/Chinese yuan (ONSHORE) closed DOWN  at 6.9726 /Oil UP TO 57.21 dollars per barrel for WTI and 64.13 for Brent. Stocks in Europe OPENED MIXED//  ONSHORE YUAN CLOSED DOWN // LAST AT 6.9726 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.9697 TRADE TALKS STALL//YUAN LEVELS GETTING DANGEROUSLY CLOSE TO 7:1//TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED  : /ONSHORE YUAN TRADING  BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

 

b) REPORT ON JAPAN

 

3 C CHINA

 

Hong Kong

This is very problematic for China.  Hong Kong records another double digit decline in retail sales..the most important component of their GDP.  There is no question that all wealthy citizens are removing their gold from Hong Kong and moving it to either Switzerland or Singapore.  This leaves a huge gaping derivative gold balloon derivative loss for HSBC.  Even though HSBC is headquartered in London it does 90% of its business in the two Chinas

(zerohedge)

 

Hong Kong Retail Sales Post Another Double-Digit Drop As Recession Worsens

Offering yet another reminder that the city’s economy has been reduced to a mere shadow of its former glory, Hong Kong retail sales have posted yet another double-digit drop as tourism continued to decline in November even as the pro-democracy movement started to fade from the front pages of Western periodicals.

By value, retail sales retreated 23.6% in November from the same period a year earlier, extending the city’s record-breaking run of declines to ten months. By volume, sales contracted by 25.4%. It’s the latest indication that Hong Kong’s economy is suffering from a worsening recession with no end in sight.

Source: Bloomberg

There was one bright spot, however: November’s decline was slightly better than the economists’ had expected, and slightly better than October’s record-breaking drop.

According to Bloomberg, the HK data serves as an ominous reminder that Hong Kong’s retailers, who once benefited from the city’s status as a premier tourist destination for most of Asia, are suffering the brunt of the economic fallout from the protests. And although the data for November came in slightly better than the consensus estimates, it’s still a major problem ahead of the release of data from the all-important December holiday shopping season.

The biggest source of the sales drop appears to be the sharp downturn in arrivals from mainland China, who have spurned the special autonomous region since protests first broke out in June. Visitors from the mainland plummeted 58% in November.

“Retail sales continued to fall sharply in November as the local social incidents turned extremely violent, causing very severe disruptions to tourism- and consumption-related activities and further dampening consumption sentiment,” a government spokesman said in a statement quoted by BBG. Notice the use of the vanilla “social incidents” to describe the protests, which have been deemed “riots” by the government in Beijing and supporters of Hong Kong Chief Executive Carrie Lam.

 

Meanwhile, overall visitors to HK plunged 56% YoY to 2.65 million during the month of November, the lowest reading since February 2011. It was the biggest monthly drop on record, according to the SCMP, the biggest English-language newspaper in HK.

That doesn’t bode well for shares of luxury-goods giants like LVMH (the new parent company of Tiffany & Co.), which have already been battered by Hong Kong’s troubles.

Hong Kong Financial Secretary Paul Chan Mo-po has warned that the special autonomous region of the People’s Republic of China should expect its economy to contract by 1.3% for the whole financial year thanks to the fallout from the protests, as well as the US-China trade war.

END

4/EUROPEAN AFFAIRS

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAQ/IRAN/USA

Last night at 6 pm we get initial reports of a record attack on the airport in Baghdad.  At first we thought it was the militants that were attacking the airport which eventually proved false

(zerorhedge)

Rocket Attack Shuts Down Baghdad Airport After Joint US-Iraqi Base Targeted

At a moment tensions are on edge after pro-Iran militia protesters attacked and set fire to the outside of the US embassy compound in Baghdad’s Green Zone earlier this week, another major incident is developing overnight.

Reuters and Al Jazeera are reporting that at least three missiles struck on or near a base that houses American and Iraqi counter-terrorism forces in the early Friday morning hours at Baghdad International Airport.

Barzan Sadiq

@BarzanSadiq

international airport on fire !

View image on Twitter

All civilian flights have been canceled as US military helicopters were also seen patrolling the skies in the immediate aftermath.

Al Jazeera has cited Iraqi security sources to say that though the rocket attacks appeared to have targeted a joint US-Iraqi training base within the sprawling airport perimeter. At lease one of the projectiles landed near a passenger terminal, causing an immediate shutdown of the civilian side of the airport.

It is the second such rocket attack on the airport in under a month, after on Dec.9 four projectiles were launched on the facility, targeting the US-Iraqi base on the property.

Baxtiyar Goran

@BaxtiyarGoran

Footage shows civilian cars outside of Baghdad Airport on fire after being hit by missile/s. Via @omartvsd

Embedded video

Vehicles at the airport were filmed exploding as a result of the attack, and there are conflicting reports of possible civilian casualties.

Kurdistan24 journalist Barzan Sadiq has said at least one civilian was killed in the attack with more injured, as well as multiple Iraqi military personnel among the wounded.

سيف صلاح الهيتي

@saifsalahalhety

3 Katyusha rockets in the vicinity of Baghdad International Airport near the sleeve of advisory units of the International Alliance, which is located in the vicinity of Baghdad Airport.
Civilians burn cars

View image on TwitterView image on TwitterView image on TwitterView image on Twitter

While details are as yet unclear and unconfirmed at this point, Reuters did confirm the following per local security authorities:

Three Katyusha rockets fell on Baghdad International Airport, the military-run Security Media Cell said in a statement on early Friday.

The rockets landed near the air cargo terminal, burning two vehicles and injuring several citizens, Security Media Cell added.

Earlier in the day Defense Secretary Mark Esper put Iran and its proxies on notice, saying the US is prepared to launch “pre-emptive action” if American troops and interests come under threat.

developing…

end

IRAQ/IRAN/USA

One hour later we learn that it was the Americans who fired rockets at the airport. The chief commander of the IRG, Soleimani had just arrived from either Syria or Lebanon where he was targeted along with his no 2 who had come to greet him.  It is interesting that the Iranians had full control over the airport. We now await the Iranian response

(Times of Israel)

Powerful Iranian general Qassem Soleimani killed in Baghdad airstrike

Leader of IRGC’s elite Quds force, blamed for attacks on Israel, killed in bombing at airport; head of Iran-backed militia also assassinated, US reportedly confirms involvement

Iranian Revolutionary Guard Corps' Quds Force commander Gen. Qassem Soleimani, center, attends a meeting with Supreme Leader Ayatollah Ali Khamenei and Revolutionary Guard commanders in Tehran, Iran, September 18, 2016. (Office of the Iranian Supreme Leader via AP)

 

Iranian Revolutionary Guard Corps’ Quds Force commander Gen. Qassem Soleimani, center, attends a meeting with Supreme Leader Ayatollah Ali Khamenei and Revolutionary Guard commanders in Tehran, Iran, September 18, 2016. (Office of the Iranian Supreme Leader via AP)

Qassem Soleimani, the powerful head of Iran’s Quds Force, was killed in an airstrike at Baghdad International Airport, Iraqi TV and three Iraqi officials officials said Friday.

The officials said the strike also killed Abu Mahdi al-Muhandis, the deputy commander of Iran-backed militias known as the Popular Mobilization Forces.

The PMF, also known as Hashed, confirmed that the two were killed, blaming the strike on the US.

US officials told Reuters that it had carried out a strike in Baghdad on two figures linked to Iran, but did not provide details. The attack came hours after Defense Secretary Mark Esper said the US was ready to step up activities to push Iran-backed forces out of Iraq, including pre-emptive strikes.

Soleimani’s death will likely mark a major escalation in a simmering conflict between the US and Iran that recently boiled over in Iraq with the storming of the US embassy by pro-Iranian militiamen following a US strike on a Tehran-backed militia.

Supporters of Iraq’s Hashed al-Shaabi paramilitary force hold placards depicting trampled US symbols reading in Arabic “Welcome” during a protest outside the US embassy in the Iraqi capital Baghdad on January 1, 2020 to condemn the US air strikes that killed 25 Hashed fighters over the weekend. (AHMAD AL-RUBAYE / AFP)

A senior Iraqi politician and a high-level security official confirmed to the Associated Press that Soleimani and al-Muhandis were among those killed in the attack. Two militia leaders loyal to Iran also confirmed the deaths, including an official with the Kataeb Hezbollah, which was involved in the attack on the US Embassy this week.

The official, speaking on condition of anonymity, said al-Muhandis had arrived to the airport in a convoy to receive Soleimani whose plane had arrived from either Lebanon or Syria. The airstrike occurred as soon as he descended from the plane to be greeted by al-Muhandis and his companions, killing them all.

The officials spoke on condition of anonymity because of the sensitivity of the subject and because they were not authorized to give official statements.

The senior politician said Soleimani’s body was identified by the ring he wore.

Soleimani has for years been seen as the architect of much of Iran’s malign activities in the Middle East, including attempts to place a foothold in Syria and rocket attacks on Israel, making him one of Israel and the US’s most sought-after targets.

The IRGC confirmed that Soleimani was killed, according to the Iran’s semi-official Fars news agency, but there was no other immediate reaction to his death from Tehran.

There was also no immediate comment on the assassination from Israeli officials, who in the past have expressed worries of being targeted by Iran in any conflict with the US.

US President Donald Trump, who months ago excitedly tweeted out about “Big news,” to tease the US’s assassination Islamic State leader Abu Bakr al Baghdadi, did not immediately issue a statement, but tweeted a large picture of an American flag.

Soleimani’s killing was announced hours after missiles struck at least two cars at Baghdad’s International Airport, killing at least seven people, according to Iraqi officials.

The PMF official said the dead included Muhandis and its airport protocol officer, identifying him as Mohammed Reda.

Despite being deputy head of the PMF, Muhandis was widely viewed as the group’s leader. He and Soleimani shared a close relationship.

Abu Mahdi al-Muhandis, a commander in the Popular Mobilization Forces, listens to a question during an interview ahead of an operation aimed at re-taking the Islamic State-held city of Fallujah, outside Fallujah, Iraq, May 29, 2016. (AP Photo/Khalid Mohammed)

Soleimani for years stayed in the shadows while directing the Quds force, an elite special forces brigade within Iran’s Islamic Revolutionary Guards Corps responsible for Iran’s extra-territorial military operations.

Soleimani rose to prominence by advising forces fighting the Islamic State group in Iraq and in Syria on behalf of embattled dictator Bashar Assad.

US officials say the Guard under Soleimani taught Iraqi militants how to manufacture and use especially deadly roadside bombs against US troops after the invasion of Iraq. Iran has denied that. Soleimani himself remains popular among many Iranians, who see him as a selfless hero fighting Iran’s enemies abroad.

In a 2013 profile of Soleimani, New Yorker reporter Dexter Filkins wrote that as head of the Quds Force, which he took control of in 1998, Soleimani “sought to reshape the Middle East in Iran’s favor, working as a power broker and as a military force: assassinating rivals, arming allies, and, for most of a decade, directing a network of militant groups that killed hundreds of Americans in Iraq.”

In recent years he stepped into the light, appearing alongside Iran’s Supreme Leader Ayatollah Ayatollah Ali Khamenei and other Shiite leaders.

Commander of Iran’s Quds Force, Qassem Soleimani, right, greets Supreme Leader Ayatollah Ali Khamenei while attending a religious ceremony in a mosque at his residence in Tehran, Iran, March 27, 2015. (Office of the Iranian Supreme Leader via AP)

In October, he gave his first major interview to a publication run out of Khamenei’s office in which he claimed that Israel had tried to assassinate him and Hezbollah chief Hassan Nasrallah in 2006.

Days later, Mossad chief Yossi Cohen indicated that Israel was not yet actively seeking to assassinate Soleimani, after Iran said it had uncovered an “Israeli-Arab” plot to kill him.

“He knows very well that his assassination is not impossible. His actions are identified and felt everywhere… there’s no doubt the infrastructure he built presents a serious challenge for Israel,” Cohen said.

A protester hits a poster showing the leader of the Iranian Revolutionary Guard’s foreign wing, or Quds Force, Gen. Qassim Soleimani with a shoe during ongoing anti-government protests in Baghdad, Iraq, November 3, 2019. (AP Photo)

Soleimani had been rumored dead several times, including in a 2006 airplane crash that killed other military officials in northwestern Iran and following a 2012 bombing in Damascus that killed top aides of embattled Syrian President Bashar Assad. More recently, rumors circulated in November 2015 that Soleimani was killed or seriously wounded leading forces loyal to Assad as they fought around Syria’s Aleppo.

Earlier Friday, an official with an Iran-backed paramilitary force said that seven people were killed by a missile fired at Baghdad International Airport, blaming the United States.

A security official confirmed that seven people were killed in the attack on the airport, describing it as an airstrike. Earlier, Iraq’s Security Media Cell, which releases information regarding Iraqi security, said Katyusha rockets landed near the airport’s cargo hall, killing several people and setting two cars on fire.

Protesters damage property inside the US embassy compound, in Baghdad, Iraq, December 31, 2019. (AP Photo/Khalid Mohammed)

On Tuesday, Trump threatened Iran with strong action over the embassy clashes.

“Iran will be held fully responsible for lives lost, or damage incurred, at any of our facilities,” he said on Twitter.

“They will pay a very BIG PRICE! This is not a Warning, it is a Threat,” wrote Trump, adding “Happy New Year!”

Khamenei dismissed the threats over the embassy violence saying Washington “can’t do anything.”

Tensions between the US and Iran have soared since the Donald Trump administration announced in May 2018 that it was pulling out of the 2015 nuclear deal.

Last year, the tensions spilled over into a war of words between American and Iranian leaderships, allegations of sabotage attacks targeting oil tankers off the coast of the United Arab Emirates, a drone attack on a Saudi oil pipeline claimed by Yemen’s Iranian-allied rebels, and the dispatch of US warships and bombers to the region.

In spring 2019, Soleimani reportedly met with Iraqi militia members and told them to prepare for a proxy war, according to The Guardian, sparking fears in the US of renewed attacks on troops.

Iraqi officials have feared that their country could be used as an arena for score-settling between Iran an the US.

The United States led the 2003 invasion against then-dictator Saddam Hussein and has worked closely with Iraqi officials since.

But its influence has waned compared with that of Tehran, which has carefully crafted personal ties with Iraqi politicians and armed factions, even during Saddam’s reign.

end

IRAN/USA

The Ayatollah vows severe retaliation for the killing of Soleimani

(zerohedge)

Ayatollah Vows “Severe Retaliation” Against “Criminals” Responsible For Killing Iranian General

Iran’s supreme leader, the Ayatollah Khamenei, warned in a statement that the “criminals” responsible for the death of a top Iranian general will face “severe revenge”, and that his work fighting on behalf of the Iranian people “won’t be stopped by his martyrdom,” according to a statement published on Twitter.

The statement was issued in response to Friday morning’s “game changing” drone strike (the attack took place late Thursday evening in the US) that killed Iran’s most revered and respected military commander, General Qasem Suleimani, the leader of the IRGC’s Quds Force – a powerful regional player responsible for overseeing Iran’s proxy war in Yemen, as well as Iran-backed forces in Iraq, Lebanon and elsewhere.

The statement was published in English by an unverified but widely-cited Twitter account, and though Zero Hedge hasn’t personally verified whether the statement is genuine, it is being reported as legitimate by many media outlets around the world, including the Washington Post, which cited part of it.

 

The statement reads as follows:

Dear Iranian Nation!

Years of sincere, brave efforts fighting against the devils& villainous in the world & yrs of wishing for martyrdom on the path of God finally took the dear Commander of Islam, Soleimani, to this lofty status. His blood was shed by the most barbaric of men.

We congratulate Imam Mahdi (‘a.j.) & Soleimani’s pure soul& condole the Iranian nation on this great martyrdom. He was an eminent example of a person trained in Islam. He spent all his life in struggling for God. Martyrdom was the reward for his tireless efforts over the years.

His efforts & path won’t be stopped by his martyrdom, by God’s Power, rather a #SevereRevenge awaits the criminals who have stained their hands with his & the other martyrs’ blood last night. Martyr Soleimani is an Intl figure of Resistance & all such people will seek revenge.

All friends – & enemies – know that Jihad of Resistance will continue with more motivation & definite victory awaits the fighters on this blessed path. The loss of our dear General is bitter. The continuing fight & ultimate victory will be more bitter for the murderers & criminals.

The Iranian nation will honor the memory of the noble Major-General Soleimani & the martyrs with him – particularly the great Abu Mahdi al-Muhandis – & I declare 3 days of mourning across the nation. I condole & congratulate his family.

In a tweet published shortly after news of the deadly US attack first broke, Iranian Foreign Minister Javad Zarif warned that “the US bears responsibility for all consequences of its rogue adventurism”. He also denounced the strike as an “act of international terrorism” by the US, and added that the Quds force is “THE most effective force fighting Daesh (ISIS), Al Nusrah, Al Qaeda et al”.

Javad Zarif

@JZarif

The US’ act of international terrorism, targeting & assassinating General Soleimani—THE most effective force fighting Daesh (ISIS), Al Nusrah, Al Qaeda et al—is extremely dangerous & a foolish escalation.

The US bears responsibility for all consequences of its rogue adventurism.

Meanwhile, Iranian defense minister Amir Hatami said that the attack by the “arrogant U.S.” would be met with a “crushing” response, according to the Washington Post.

The US Embassy in Baghdad, which was recently the target of a Benghazi-style attack earlier this week that Trump cited as justification for Suleimani’s killing, warned any American citizens to leave Iraq immediately, and said it was suspending all public consular activities (or at least any that hadn’t already been suspended in the aftermath of this week’s attack), the Washington Post reports.

Though President Trump hasn’t released a statement beyond tweeting a picture of an American flag, Defense Secretary Mark Esper said the Pentagon had taken “decisive defensive action” against Soleimani, whom Esper claimed was “actively” in the process of planning attacks on American diplomats.

“Gen. Soleimani was actively developing plans to attack American diplomats and service members in Iraq and throughout the region,” Esper said. “This strike was aimed at deterring future Iranian attack plans.”

During these tense times, we think it’s important to reflect on the fact that the US and Suleimani weren’t always enemies, as Barbara Slavin, the director of the Future of Iran Initiative, reminds us.

In the aftermath of 9/11, the Quds force worked (indirectly) with US forces in Afghanistan to overthrow the Taliban. But the relationship soured after the American invasion of Iraq. Suleimani has been in control of the Quds force since the late 1990s, according to media reports.

To be sure, the general’s killing wasn’t the first example of President Trump ordering a supposedly “game-changing” military strike that could instigate WWIII (remember, “experts” delivered a similar warning after Trump sent 50+ Tomahawk Missiles raining down on Syrian military fixtures back in 2017, and have repeated it several times since), but it was without a doubt the most aggressive provocation of the Trump era, and has destroyed what little hope remained of a diplomatic detente.

Though, for Qassem’s sake, at least he lived long enough to see the finale of Game of Thrones (since he was, apparently, a fan…)

Anna Ahronheim

@AAhronheim

‘s Defense Minister Naftali Bennett, who is also acting PM since Netanyahu is in Greece, will hold a situational assessment at the Kirya IDF Headquarters in Tel Aviv with Chief of Staff Lt.-Gen. Aviv Kochavi and other security officials

Anna Ahronheim

@AAhronheim

Not anymore Qassem…

View image on Twitter
END
Iran
iran deploys F 14 fighter jets to its borders and then places ballistic missile bases on high alert
(zerohedge)

Iran Deploys F-14 Fighter Jets, Places Ballistic Missile Bases On ‘High Alert’

Tehran has deployed Grumman F-14 Tomcat fighter jets to its borders hours after the U.S. killed Iranian General Qasem Soleimani in an airstrike at Baghdad international airport, according to Sputnik News.

NBC News Tehran Bureau Chief Ali Arouzi tweeted that “Iranian f14 fighters jets maneuvering on the western skies and on alert and patrol.”

Ali Arouzi@aliarouzi

Iranian f14 fighters jets manoeuvring on the western skies and on alert and patrol. State tv

Al-Mayadeen news tweeted: “Iran: Revolutionary Guard Agency of Iran: Armed forces in the army and Revolutionary Guard are awaiting orders from the highest command.”

In other related news, Iranian Supreme Leader Ali Khamenei warned in a statement that the “criminals” responsible for the death of a top Iranian general will face “severe revenge,” and that retaliation could be a regional war.

And defense analyst Babak Taghvaee tweeted that the Islamic Revolutionary Guard Corps (IRGC) “has put all of its ballistic missile bases on high-alert. #IRGC affiliated news media of #Iran’s Islamic Regime claim that they are ready to launch missiles at several airbases which host #USAF airplanes in #UAE, #Qatar, #SaudiArabia & #Jordan!”

Babak Taghvaee@BabakTaghvaee

: Aerospace Force has put all of its ballistic missile bases on high-alert. affiliated news media of ‘s Islamic Regime claim that they are ready to launch missiles at several air bases which host airplanes in , , & !

Embedded video

Babak Taghvaee@BabakTaghvaee

This news was released by affiliated news channels in social media platforms this morning. When -based journalists including H. Dalirian from News contacted Spokesman of Aerospace Force and asked him about this news, he didn’t deny it.

View image on TwitterView image on Twitter

Here are the possible US military bases within striking range of Iran.

 

The world is in uncharted waters. It’s anyone’s guess what Iran will do next…

END
Iran//Strait of Hormuz
Will the Iranians close the Strait. If they do oil will skyrocket to 150 dollars per barrel.
(CapEcon//zerohedge)

CapEcon: If Iran Closes The Strait Of Hormuz, Crude Would Jump To $150

When we first reported the news of Qassam Suleimani’s assassination, one of the first things we showed was the placement of US naval ship around the globe, emphasizing the location of aircraft carrier CVN 75 “Harry Truman” which is currently located just off the Straits of Hormuz in the Gulf of Mexico (and may or may not have been instrumental in the Baghdad airport strike that took out Suleimani).

So why was one of the only two US carriers currently deployed in immediate proximity to the Straits of Hormuz?

Simple: the tiny strait represents the most important choke point for global energy flows, with roughly third of all seaborne traded oil flowing through the Strait daily…

… and is also why speculation is rife that if an enraged Iran really wants to retaliate against the US, its primary goal may be to shut down the strait (even if Iran ally China would strenuously object), which in turn would result in a worst case scenario for the global economy, potentially sending oil as high as $150 according to to Capital Economics, and tipping the world into recession.

Below we repost a fast take from CapEcon on its views on “Soleimani’s death and the threat of US-Iran war”:

Soleimani’s death and the threat of US-Iran war

The assassination of Qassem Soleimani, a major figure in the Iranian regime, in a US airstrike last night has significantly raised the chances of an outright conflict between the US and Iran. We’ve previously estimated that a US-Iran war could shave 0.5%-pts or more off global GDP, mainly due to a collapse in Iran’s economy but also due to the impact from a surge in oil prices.

It’s extremely difficult to know how events will play out from here. But Iran’s Supreme Leader has promised “tough revenge” for the death of Mr. Soleimani. This could come via numerous channels, including attacks on US embassies in the region, assaults on neighbouring US allies (such as Saudi Arabia) or even strikes on US military facilities in the Gulf.

Clearly, the major concern for the world economy is that events spiral out of control and the US launches a full-blown military assault on Iran. We would direct clients to a Focus published last year for a discussion of the possible geopolitical and economic implications of a direct conflict between the US and Iran. We won’t go into all the details here, but there are few key points worth reiterating.

First, the resulting collapse in Iran’s economy could knock as much as 0.3%-pts off global GDP – equal to our estimate of the damage from the US-China trade war. The impact on the other MENA countries would ultimately depend on whether they get directly caught up in the conflict. Past experience suggests that they could actually come through relatively unscathed – many of the Gulf countries recorded rapid growth during the First Gulf War.

Second, and more importantly for the rest of the world, oil prices would surge. In response to last night’s events, oil prices have risen by more than 3% today to $68pb. But if Iran tried to close off the Strait of Hormuz, we’ve previously estimated that Brent crude would jump to $150pb. This would push up inflation across the world – by as much as 3.5-4.0%-pts in the OECD countries.

Central banks in the developed world would probably look through this. But in EMs, those countries where higher oil prices exacerbate balance of payments strains or an inflation problem would probably hike interest rates. Turkey would be a prime candidate, but India would face strains too.

Third, there would also be indirect effects via a hit to sentiment and possible disruption to shipping routes. Our central scenario is that the global economy will bottom out in the early part of this year and recover thereafter. But the outbreak of war between the US and Iran would put the recovery on ice.

In terms of financial markets, equity and bond markets across the Middle East would probably come under pressure. But we suspect that dollar pegs in the Gulf would remain intact. At a global level, a dent to risk appetite would cause risky assets to suffer – equities would fall and EM currencies would weaken – and safe haven assets to rally.

Iranians, Iraqis, Israelis all thank Trump for the airstrike that killed Soleimani
(Steve Watson/Summit News)

Iranians And Iraqis Celebrate, Thank Trump For Airstrike That Killed Ruthless Military General

Authored by Steve Watson via Summit News,

“As an Iranian, I want to thank you with all my heart”

Iranians and Iraqis are celebrating after the Pentagon, under the direction of President Trump, carried out an airstrike in Baghdad that killed Iranian military leader Qasem Soleimani.

The action came in response to an Iran-led attack on the US embassy in Iraq.

Soleimani, the head of the Islamic Revolutionary Guard Corps’ elite Quds Force, a designated terror group since 2007, was despised by many in Iran, and by Iraqis who have been subject to a campaign of terror in their own country at the hands of forces operating in lockstep with the Iranian military.

Secretary of State Mike Pompeo had deemed Soleimani equally as dangerous as Islamic State leader Abu Bakr al-Baghdadi.

Alex Salvi@alexsalvinews

DEVELOPING: Iranian state television cites a Revolutionary Guard statement confirming Qassem Soleimani was killed in Iraq.

Alex Salvi@alexsalvinews

BREAKING: Pentagon confirms air strike:

“At the direction of the President, the U.S. military has taken decisive defensive action to protect U.S. personnel by killing Qasem Soleimani.”

“Soleimani was actively developing plans to attack American diplomats and service members.”

View image on Twitter

Israel Breaking@IsraelBreaking

Footage of one of the vehicles struck by strike killing Iran military leader Qasem Soleimani tonight in Baghdad.

Embedded video

Nafiseh Kohnavard

@nafisehkBBC

Both Iraqi state TV and ‘s AlMayadeen confirm that ‘s Qassem Soleimani and ‘s Abu Mahdi Mohandis were killed in a strike in .

Iraqis were seen dancing in the streets at the news of Soleimani’s death:

𝕍𝕒𝕙𝕚𝕕 𝕐𝕦𝕔𝕖𝕤𝕠𝕪@vahid_yucesoy

Iraqis are celebrating the death of .

Let’s not forget. When Iraqi pro-democracy activists were demonstrating Tahrir Square, forces propped up by Soleimani were terrorizing them.

Now, can you blame these Iraqis for celebrating the death of Soleimani? https://twitter.com/Mo_Allamy/status/1212918739890581504 

محمد فوزي اللامي@Mo_Allamy

احتفالات المتظاهرين في #ساحة_التحرير بمقتل الارهابي قاسم سليماني.#نريد_وطن

Embedded video

Iranians who have been forced to live under ruthless military rule, took to Twitter to thank Trump with the hashtag #TnxPOTUS4Soleimani:

Asra Q. Nomani, PI

@AsraNomani

Who is breathing a sigh of relief that Gen Soleimani is dead? Dissidents, feminists & secularists from Iran, Iraq, Syria & Lebanon.

He was a Shia Osama bin Laden with a national treasury & flag.

Who is crying foul? Obama alum Ben Rhodes, CodePink & Squad cocreator Cenk Uyger🤷🏽‍♀️

فؤاد@foadsf

I still can’t believe this mother fuckers are gone, but thanks anyway uncle trump

Embedded video

Leila@Leila44909296

Ghasem soleimani got smoked tonight, now world can take a breath. Thanks to anyone who did this great job

See Leila’s other Tweets

Amin@amin13626


Behalf of the people of Iran who fighting against the 🌺🌺🌺❤️❤️❤️

Mehdi K@mehdikkyu

A lot of Iranians are still mourning for their loved ones who were killed by IRGC and Soleimani’s forces in the streets while protesting. This operation was really a relief for them! Thanks @realDonaldTrump

226 people are talking about this

Saber Bostani-Asl@S_BostaniAsl

The murderer of Iranians, Iraqis, Syrians, Israelis, Yemenis, Lebanese, US Soldiers & head of the IRGC’s foreign wing, or Qods Force, Gen. Qasem Soleimani, Killed in Iraq.

As an Iranian, I want to thank you with all my heart President @realDonaldTrump 🙏🥂

View image on TwitterView image on Twitter

Sam@SammyXCVIII

We Iranians thank @realDonaldTrump for his decisive order. He made a promise and he kept it. Unlike under Obama era when Israelis wanted to kill terrorist Soleimani, but Obama stoped them because he wanted to make a broken deal with a terrorist regime.

#پدر_پویا_کجاست #مادر_پویا_کجاست #هفت_هزار siroos@siroos23664793

thank you mr. secretary
this should have been done long ago
before syria was destroyed by soleimani
IRAN ❤️ USA

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Barbad@Barbodcamo


Justice is served.
Soleimani killed several hundreds of thousand of civilians including children. Even in Iran.
We are celebrating this in Iran . https://twitter.com/realDonaldTrump/status/1212924762827046918 

Donald J. Trump

@realDonaldTrump

View image on Twitter

Goli_dar_goldan@dar_goldan

Dear Mr. President, @realDonaldTrump , in last month Islamic Regime in Iran killed defenseless Iranian youth& children and then suppressed Iranian Ppl. But today we get hope to continuing the struggle with this bloody regime. Thank you.

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Shawn@BScoRpion0

This bloody hand belongs to Qasem Soleimani the top general in . This hand caused of death of thousands of Iranian, Syrian and Iraqi people and after years of killing, torturing the justice has been served.

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Reza Shah’s daughter@DaughterReza

On behalf of all Iranians that have been taken hostage by mulla’s regime and those who lost their loved ones and also exiled Iranians Thank you @realDonaldTrump

rose mcgowan

@rosemcgowan

Dear , The USA has disrespected your country, your flag, your people. 52% of us humbly apologize. We want peace with your nation. We are being held hostage by a terrorist regime. We do not know how to escape. Please do not kill us.

Embedded video

Jewhadi™@JewhadiTM

The Iranian people beg to differ with you

Death Toll Of Iran Protests Surpasses 1,000; Names of 221 Slain Protestershttps://iran-hrm.com/index.php/2019/12/03/death-toll-of-iran-protests-surpasses-1000-names-of-222-slain-protesters/ 

Death Toll Of Iran Protests Surpasses 1,000; Names of 222 Slain Protesters

According to credible reports the number of people killed during November 2019 protests in Iran has risen to at least 1,000.

iran-hrm.com

There are thousands more tweets.

Some decried the total lack of coverage from Western media until now

Madam Luna@Madam__Luna

At last 1500 killed in 2 days just recently in Iran by the hands of Islamic regime.
Not a single word from western media!
Now look at this comedy show they’ve started on twitter.
A terrorist dies,and people in western countries are worried about Worl War III

View image on Twitter

Others singled out those criticizing the US action, saying that they do not need uninformed Westerners speaking on their behalf:

Madam Luna@Madam__Luna

The number of idiots under this tweet is an evidence of how uninformed Americans are.
In Persian, we call them “Kabk”😊
Fake news has truly done a great job in the states. 👏🏼
https://twitter.com/chrismurphyct/status/1212913952436445185 

Chris Murphy

@ChrisMurphyCT

Soleimani was an enemy of the United States. That’s not a question.

The question is this – as reports suggest, did America just assassinate, without any congressional authorization, the second most powerful person in Iran, knowingly setting off a potential massive regional war?

Reports also suggest that US marines captured high profile terrorist figures:

Alex Salvi@alexsalvinews

BREAKING: Iraqi news agencies say the following have been killed in a U.S. air strike near Baghdad:

Qassem Soleimani (Iranian Major general in the Islamic Revolutionary Guard Corps)

Abu Mahdi al-Muhandis (head of Kata’ib Hezbollah)

Mohammed Ridha (PMF head of protocol).

Alex Salvi@alexsalvinews

DEVELOPING: U.S. Marines have captured and arrested the following outside Baghdad:

Qais Khazali (Leader of Asaib Ahl al-Haq)

Hadi al-Amiri (Head of Badr Organization)

President Trump tweeted an American flag without further comment:

Donald J. Trump

@realDonaldTrump

View image on Twitter
end
TURKEY/SYRIA/RUSSIA/
Erdogan issues an appeal to stop the offensive in Syria because he cannot handle any more migrants. The UN reports that almost 300,000 more migrants are on the move to Turkey. Turkey is broke and Europe is not opening any of its gates.
(zeorhedge)

“Why Don’t They Open The Gates?” Erdogan Questions Europe As 250,000 Flee Idlib

As Russian and Syrian jets have dramatically stepped up their bombardment of jihadist-held Idlib over the past three weeks, Turkish President Recep Tayyip Erdogan has again warned a massive wave of refugees is headed into Turkey, but that his country is without help and thus is seeking to prevent the new influx.

“Right now, 200,000 to 250,000 migrants are moving toward our borders,” Erdogan said while addressing a conference in Ankara. “We are trying to prevent them with some measures, but it’s not easy. It’s difficult, they are humans too.”

This after the UN on Monday said that of Idlib province’s some 3 million civilian population, up to 284,000 are currently on the move.

International reports commonly put the current numbers of Syrian refugees hosted by Turkey at about 3.7 million, which Erdogan has of late constantly reminded Europe of as he seeks support for foreign military intervention in places like northeast Syria and now even Libya.

During his latest comments, Erdogan actually put the number of refugees across all provinces of Turkey at a whopping 5 million — which would be larger than many small countries.

Crucially, during his speech on Thursday, he alluded to his prior threats to “open the gates” and allow refugees to flood into Europe, starting with Greece and other Mediterranean nations:

“Although they [the West] have more resources than we do, why don’t they accept them, why don’t they open the gates?” Erdogan asked.

While also slamming Arab League member states for not acting, he answered his own question with, “We are Turkey. Alone this gives us a power and superiority that nobody has.”

In late December, Erdogan reiterated prior provocative threats underscoring that “Turkey cannot handle a fresh wave of migrants from Syria, President Tayyip Erdogan said on Sunday, warning that European countries will feel the impact of such an influx if violence in Syria’s northwest is not stopped,” as Reuters summarized of the statement.

 

Ankara is currently seeking to persuade Moscow to halt its offensive on Idlib and to get its ally Assad to halt its military actions, which also includes a ground advance in the south of the province.

Russia’s Putin is expected to arrive in Isanbul on Jan.8 for a ceremony inaugurating a natural gas pipeline, but the two are also expected to address the contentious issues of Syria developments as well as the growing proxy war in Libya due to Gen. Haftar’s offensive on the capital.

On Thursday, Turkish parliament authorized sending troops to Libya to assist Tripoli in halting Haftar’s advance, while Russia has stood on the other side, voicing support of the Benghazi-based leader.

END

6.Global Issues

BALTIC DRY INDEX

Yesterday the Baltic Dry Index which is a good Bellwether for global growth had its worst day in 6 years

(zerohedge)

Baltic Index Has Worst Day In Six Years – Vessel Demand Sinks As Front-Loading Ends 

The Baltic Dry Index (BDI), a composite of the Capesize, Panamax and Supramax time charter averages, recorded its most significant one-day percentage drop in six years, reported Reuters.

BDI was pressured 10.5% on Thursday thanks to waning demand for dry bulk vessels. It was the most significant one-day percentage drop since January 2014. The index fell 114 points to 976 points, the lowest print since May 2019. 

“Some of it represents the fact that it is the first quoting for almost a week now. We expect a bit more softness to come around and we see … China as the main locomotive behind this,” Peter Sand, the chief shipping analyst at BIMCO, told Reuters.

It wasn;t just the headline Baltic Dry Index (h/t @JHannisdahl):

  • Capesize -16.47% to $11,976
  • Panamax -13.76% to $7,695
  • Supramax 58k tons -9.11% to $7,539
  • Handysize -9.21% to $6,410

“The market as such is not strong in a fundamental way,” Sand said, adding that the global economy will continue to weaken into 2020.

Slowing demand for bulk carriers could be due to the decline in firms’ front-loading goods ahead of tariff deadlines as trade resolutions have been found between the US and China.

Chinese firms and US importers rushed to ship goods to the US through 1Q19 to Septemeber as the US and China were engaged in a tit-for-tat trade war. The implementation of tariffs by both countries on billions of dollars in goods forced importers and exporters to increase outbound and inbound delivers before tariff deadlines went into effect.

As a result of trade policy change, demand for bulk carriers increased throughout the year, raising the Baltic index +318% from January to Septemeber. With a possible trade resolution and the need to front-load has subsided, the dry bulk index topped out in September and has plunged 61% in the last three months.

Front-loading also gave the economy a boost, but since that has ended, the US economy continues to decelerate into 2020.

The JP Morgan Global Manufacturing PMI printed at 50.1 in December, versus a 50.3 in November, suggesting a global slowdown will continue into 2020.

Plunging shipping rates and waning global manufacturing data signals the world has entered a period of low-growth, and the probability of a massive economic rebound in early 2020 is unlikely.

end

7. OIL ISSUES

 

8 EMERGING MARKET ISSUES

 

 

 

Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings FRIDAY morning 7:00 AM….

Euro/USA 1.1131 DOWN .0040 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//SULEIMANI ASSASSINATED BY THE USA /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /ALL RED

 

 

USA/JAPAN YEN 108.10 DOWN 0.431 (Abe’s new negative interest rate (NIRP), a total DISASTER/NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3059   DOWN   0.0088  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT EXTENDED TO JAN 31/2020//

USA/CAN 1.2998 UP .0014 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  FRIDAY morning in Europe, the Euro FELL BY 40 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1131 Last night Shanghai COMPOSITE CLOSED DOWN 1.41 POINTS OR 0.05% 

 

//Hang Sang CLOSED DOWN 92.02 POINTS OR 0.32%

/AUSTRALIA CLOSED UP 0,66%// EUROPEAN BOURSES ALL RED

 

Trading from Europe and Asia

EUROPEAN BOURSES ALL RED 

 

 

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 92,02 POINTS OR 0.32%

 

 

/SHANGHAI CLOSED DOWN 1.41 POINTS OR 0.05%

 

Australia BOURSE CLOSED UP. 66% 

 

 

Nikkei (Japan) CLOSED DOWN 181.10  POINTS OR 0.76%

 

 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1545.90

silver:$18.15-

Early FRIDAY morning USA 10 year bond yield: 1.82% !!! DOWN 6 IN POINTS from THURSDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

 

The 30 yr bond yield 2.28 DOWN 5  IN BASIS POINTS from THURSDAY night.

USA dollar index early FRIDAY morning: 97.05 UP 23 CENT(S) from  THURSDAY’s close.

This ends early morning numbers FRIDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing FRIDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.36% DOWN 6 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: -.01%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.38%//DOWN 6 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:1,34 DOWN 7 points in basis points yield from yesterday./

 

 

the Italian 10 yr bond yield is trading 96 points higher than Spain.

 

GERMAN 10 YR BOND YIELD: FALLS TO –.31% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.62% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

 

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY

Closing currency crosses for FRIDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1176  UP     .0006 or 6 basis points

USA/Japan: 107.95 DOWN .601 OR YEN UP 60  basis points/

Great Britain/USA 1.3096 DOWN .0051 POUND DOWN 51  BASIS POINTS)

Canadian dollar UP 4 basis points to 1.2981

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

The USA/Yuan,CNY: AT 6.9663    ON SHORE  (UP)..

 

THE USA/YUAN OFFSHORE:  6.9624  (YUAN UP)..

 

TURKISH LIRA:  5.9753 EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield closed at -.01%

 

Your closing 10 yr US bond yield DOWN 7 IN basis points from THURSDAY at 1.80 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.27 DOWN 6 in basis points on the day

Your closing USA dollar index, 96.80 DOWN 5  CENT(S) ON THE DAY/1.00 PM/

 

Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates for FRIDAY: 12:00 PM

London: CLOSED UP 13.86  OR  0.18%

German Dax :  CLOSED DOWN 181.04 POINTS OR 1,35%

 

Paris Cac CLOSED DOWN 4.45 POINTS 0.07%

Spain IBEX CLOSED DOWN 55.10 POINTS or 0.57%

Italian MIB: CLOSED DOWN 127.05 POINTS OR 0.54%

 

 

 

 

 

WTI Oil price; 62.90 12:00  PM  EST

Brent Oil: 68.05 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    63.05  THE CROSS HIGHER BY 0.20 RUBLES/DOLLAR (RUBLE LOWER BY 20 BASIS PTS)

 

TODAY THE GERMAN YIELD FALLS  TO –.28 FOR THE 10 YR BOND 1.00 PM EST EST

END

 

This ends the stock indices, oil price, currency crosses and interest rate closes for today 4:30 PM

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM :  62.98//

 

 

BRENT :  68.60

USA 10 YR BOND YIELD: … 1.79…..down 9 basis pts

 

 

 

USA 30 YR BOND YIELD: 2.25..down 8 basis pts..

 

 

 

 

 

EURO/USA 1.1158 ( DOWN 12   BASIS POINTS)

USA/JAPANESE YEN:108.10 DOWN .440 (YEN UP 44 BASIS POINTS/..

 

 

USA DOLLAR INDEX: 96.88 DOWN 4 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3073 DOWN 74  POINTS

 

the Turkish lira close: 5.9739

 

 

the Russian rouble 62.06   DOWN 0.35 Roubles against the uSA dollar.( DOWN 35 BASIS POINTS)

Canadian dollar:  1.2989 UP 30 BASIS pts

USA/CHINESE YUAN (CNY) :  6.9663  (ONSHORE)/we need to watch these levels/anything greater than 6.95 will be deadly./

 

USA/CHINESE YUAN(CNH): 6.9624 (OFFSHORE) we need to watch these levels/anything greater than 6.95 will be deadly/

German 10 yr bond yield at 5 pm: ,-0.28%

 

The Dow closed DOWN 233.92 POINTS OR 0.81%

 

NASDAQ closed DOWN 71.42 POINTS OR 0.79%

 


VOLATILITY INDEX:  14.09 CLOSED UP 1.62

LIBOR 3 MONTH DURATION: 1.900%//libor dropping like a stone

 

USA trading today in Graph Form

Stocks Shrug Off World War 3 Risk, But Bonds, Bullion, & Bitcoin Surge To Start The Year

World War 3 worries? Meh, we’ve got The Fed to handle that shit!!

Weakness in early going in stocks – due to the potential for global war after Soleimani’s killing – were nothing but an opportunity to buy the f**king dip once again today…(as the machines used VWAP as support)…

 

As the market immediately priced in a Fed rate-cut to save the world…

Source: Bloomberg

Oil prices spiked but ended only around 3% higher on the day…

Of course, defense stocks soared…

Source: Bloomberg

But bonds and bullion were bid as safe-havens…

On the week, only Nasdaq is notably higher…

 

And since the start of 2020, only Small Caps are red…

 

VIX and stocks remain decoupled…

 

Source: Bloomberg

Credit markets widened notably today, relatively more than equity protection…

 

Source: Bloomberg

Treasury yields collapsed since the start of 2020 with 30Y yields down 13bps…

Source: Bloomberg

The 30Y Yield dropped to 4-week lows…

Source: Bloomberg

The yield curve flattened dramatically…

Source: Bloomberg

The dollar rallied for the second day in a row (despite some volatility today)…

Source: Bloomberg

Cryptos were notably bid today following the Soleimani killing…

Source: Bloomberg

After another drop below $7k, Bitcoin surged today…

Source: Bloomberg

Copper tumbled today as gold and oil rallied…

Source: Bloomberg

Gold topped $1550 – back to its highest in 4 months…

And as Bloomberg reports, heightened Middle East tensions are boosting bets on further gains for gold as a haven asset. Volatility in call options giving holders the right to buy futures at a pre-set price reached the highest in almost three months against puts, which provide the right to sell the metal.

The skew shows that investors are increasingly bullish on bullion, even with prices already near a six-year high in the wake of the U.S. air strike that killed a top Iranian commander.

Source: Bloomberg

Finally, US macro data is negative and disappointing notably (today’s ISM at 10 year lows) with stocks just shy of record highs…

Source: Bloomberg

And some remember what happened last time…

Source: Bloomberg

 

And now your more important USA stories which will influence the price of gold/silver

MARKET TRADING//USA

a)Market trading/LAST NIGHT/USA

Oil & Gold Spike, Stocks Slip On Reports Iran’s Top Military Commander Killed

Following reports that Iran’s most senior elite military commander, IRGC Quds Force chief Qasem Suleimani, has been killed (reportedly assassinated by a US airstrike), global markets are starting to react.

Oil prices are spiking (but we suspect have a lot more to go)…markets are just waking up to the consequences of this action!

Brent…

WTI…

And gold is bid on safe-haven flows…

As stocks sink…

This is far from over.

en

b)MARKET TRADING/USA/AFTERNOON

ii)Market data/USA

ISM Manufacturing Survey Crashes To Lowest Since June 2009

ISM

This is very telling: the USA mfg ISM index crashes in December and it is at its lowest level since the great recession of 2009
(zerohedge)

Manufacturing surveys from ISM and Markit have decoupled in the last few months (the latter rising, the former falling) but Markit’s PMI slipped back in December and expectations were for today’s ISM data to print slightly higher but still in contraction (sub-50).

However, the situation was considerably worse, ISM Manufacturing printed 47.2 in December (below the 49.0 expectation and 48.1 prior). This is the fifth straight month of contraction…

Source: Bloomberg

The deterioration was driven by the weakest gauges of new orders and production since April 2009. The data show American factories remain plagued by pullbacks in business investment at home, softer demand throughout the world and, until recently, an escalating trade war between the U.S. and China.

  • Production fell to 43.2 vs 49.1; lowest level since April 2009
  • New orders fell to 46.8 vs 47.2
  • Employment fell to 45.1 vs 46.6
  • Supplier deliveries rose to 54.6 vs 52.0
  • Inventories rose to 46.5 vs 45.5
  • Customer inventories fell to 41.1 vs 45.0
  • Prices paid rose to 51.7 vs 46.7
  • Backlog of orders rose to 43.3 vs 43.0

This is the lowest ISM print since June 2009. Year-over-year, ISM Manufacturing looks dismal – at levels that have historically lined up perfectly with US recessions…

Source: Bloomberg

Better pay attention though as US equity markets have more than priced in a dramatic rebound in Manufacturing…

Trade Accordingly.

iii) Important USA Economic Stories

New York and Los Angeles ramp up security after that USA kills the top Iranian Commander Soleimani

(zerohedge0

New York, Los Angeles Ramp Up Security After US Kills Top Iranian Commander

Major US metropolitan areas are taking extra measures to protect high-value assets and their civilians from revenge attacks following U.S. airstrikes in Iraq Friday that killed a top Iranian general.

New York City Mayor Bill de Blasio tweeted Thursday night that the New York City Police Department (NYPD) will take “immediate steps…protect key NYC locations from any attempt by Iran or its terrorist allies to retaliate against America. We will have to be vigilant against this threat for a long time to come.”

Mayor Bill de Blasio

@NYCMayor

Have spoken with Commissioner Shea + Dep Commissioner Miller about immediate steps NYPD will take to protect key NYC locations from any attempt by Iran or its terrorist allies to retaliate against America. We will have to be vigilant against this threat for a long time to come.

De Blasio also tweet: “Worried for our city + our nation. Without the approval of Congress, the U.S. Government effectively declared war on Iran tonight. The American people had no say in the matter, despite voting time + again to stop endless wars + bring our troops home. This one will not end soon.”

Mayor Bill de Blasio

@NYCMayor

Worried for our city + our nation. Without the approval of Congress, the US Government effectively declared war on Iran tonight. The American people had no say in the matter, despite voting time + again to stop endless wars + bring our troops home. This one will not end soon.

The Los Angeles Police Department (LAPD) tweeted early Friday and said, “the LAPD is monitoring the events developing in Iran. We will continue to communicate with state, local, federal, and international law enforcement partners regarding any significant intel that may develop.”

LAPD HQ

@LAPDHQ

While there is no credible threat to Los Angeles, the LAPD is monitoring the events developing in Iran. We will continue to communicate with state, local, federal and international law enforcement partners regarding any significant intel that may develop.

On Thursday night, the Pentagon confirmed U.S. airstrikes killed Iran Quds Force commander Qasem Soleimani as well as six others at the Baghdad international airport.

“At the direction of the President, the U.S. military has taken decisive defensive action to protect U.S. personnel abroad by killing Qasem Soleimani, the head of the Iranian Revolutionary Guard Corps-Quds Force, a U.S.-designated Foreign Terrorist Organization,” the Pentagon said in a statement.

 

Charles Lister

@Charles_Lister

: As CTS forces race to the US Embassy compound, pro- protesters have breached a further gate into the Embassy, where all staff reportedly remain in place.

This could spiral out of control or begin to dissipate – either way, this is a game-changing moment in IMO.

Charles Lister

@Charles_Lister

Reports – An “American” drone strike just killed the ’s “Head of Protocol,” Mohammed Reda al-Jabri, along with 2 aides & 3 “guests” (i.e. ) on their exit from Airport.

If that’s accurate, the admin just ratcheted up the ante in in a big way.

View image on Twitter

House Speaker Nancy Pelosi requested the Trump administration brief lawmakers on the airstrike and what the plan of action was to mitigate any counterattacks in response to the killing of Soleimani.

“The Administration has conducted tonight’s strikes in Iraq … without the consultation of the Congress,” Pelosi said in a statement. “The full Congress must be immediately briefed on this serious situation and on the next steps under consideration by the Administration, including the significant escalation of the deployment of additional troops to the region.”

With New York and Los Angeles preparing for possible terrorist attacks in response to the killing of Soleimani, other major metro areas will likely follow suit. The world has entered uncharted waters on the third day of 2020. Anything – including a major attack on US soil – seems possible at the moment.

END

Trump takes aim at the Democrats commentating on the Iran escalation

(zerohedge)

Trump Jabs Dems In 10 Word Tweet On Iran Escalation

Having tweeted a patriotic US flag last night following the actions to assassinate Soleimani…

Donald J. Trump

@realDonaldTrump

View image on Twitter

President Trump’s first direct tweet (he has retweeted numerous comments from others) since the attack is a clear jab at the Democrats over their actions (or lack of them) on Iran’s death-dealers…

“Iran never won a war, but never lost a negotiation!”

Donald J. Trump

@realDonaldTrump

Iran never won a war, but never lost a negotiation!

This follows leading Democrats comments speaking from both sides of their mouths unable to praise Trump’s actions while admitting Soleimani was a very bad guy…

Biden – who trump is clearly taking aim at – said the following…

 

And Warren followed a similar line…

Soleimani was a murderer, responsible for the deaths of thousands, including hundreds of Americans.

But this reckless move escalates the situation with Iran and increases the likelihood of more deaths and new Middle East conflict. Our priority must be to avoid another costly war.”

We can’t wait to see what Schumer and Pelosi say.

END
US/Iran
Pompeo reports that the USA assassination of the top Iranian official (Soleimani) was due to an “active plot” to kill Americans.
(zerohedge)

Pompeo: US Strike Thwarted “Active Plot” For Major Attack On Americans

Secretary of State Mike Pompeo spoke to Fox News and CNN on Friday morning about the White House’s rationale to take out Iran’s top elite general, Qasem Suleimani, saying “there was an imminent attack” in the works and “imminent threats to American lives” which had to be stopped.

Describing a “major attack” the IRGC Quds Force cheif was allegedly plotting, Pompeo said, “What was sitting before us was his travels throughout the region, his efforts to make a significant strike against Americans.” He added, “There would have been many Muslims killed, Iraqis, people in other countries as well.”

“It was time to take action,” Pompeo asserted, while also citing “dozens and dozens” of attacks by Iran and its proxies over the last few months. The US top diplomat also referenced “an American killed on Dec.27” — in reference to the US contractor slain during an alleged Iraqi Shia militia rocket attack on a Kirkuk base the prior Friday.

It was now the time to “take action to restore deterrence” after Trump had shown immense restraint in the face of a series of attacks on US personnel and interests, Pompeo explained.

Yet Pompeo also emphasized during the Fox segment, “We don’t seek war with Iran.”

And also appearing on CNN’s “New Day,” the Secretary of State underscored that President Trump’s decision for the targeted strike on Suleimani’s convoy along the Baghdad Airport perimeter overnight “saved American lives”.

Jennifer Jacobs

@JenniferJJacobs

“We don’t seek war with Iran,” Pompeo says on Fox News this morning.

View image on Twitter

“I can’t talk too much about the nature of the threats. But the American people should know that the President’s decision to remove Soleimani from the battlefield saved American lives,” Pompeo told CNN.

The IRGC general had been “actively plotting” in the region to “take big action, as he described it, that would have put hundreds of lives at risk,” according to Pompeo.

Secretary Pompeo

@SecPompeo

I spoke today with Chinese Politburo Member Yang Jiechi to discuss @realDonaldTrump‘s decision to eliminate Soleimani in response to imminent threats to American lives. I reiterated our commitment to de-escalation.

Pompeo didn’t cite specific evidence or ‘proof’ of his claims, but said the decision making at the White House was driven by a US intelligence based assessment, according to CNN.

Meanwhile, the region and the world is bracing for a promised coming “severe retaliation” from Iran’s leadership, itself still in shock and mourning over the death of the most visible military commander in Islamic Republic’s recent history.

iv) Swamp commentaries)

Their day is coming ..Mark Meadows talking about the Durham probe against the Democrats

(zerohedge)

“Their Day Is Coming, I Promise You”: Durham Probe To Contain “Very Problematic Findings”, Meadows Warns

Rep. Mark Meadows (R-NC) sat down with Steve Bannon on Thursday’s War Room: Impeachment, where he suggested that US Attorney John Durham will uncover “very problematic findings” with the FBI’s counterintelligence operation against the Trump campaign – both before and after the 2016 US election.

“When we look at the investigation that is going on now with Mr. Durham, he is finding things that will be very problematic,” said Meadows – who will not be seeking reelection in 2020.

“And where they’re problematic is not just in the initial investigation, it is after January of 2017 before the president is actually sworn into office, they’re still operating on trying to take him down when they know they had no case,” Meadows added.

 

Durham, appointed by Attorney General Bill Bar to examine the origins of the Russia investigation, has reportedly been focusing on former CIA Director John Brennan’s communications in regards to the January 2017 Intelligence Community Assessment which concluded that Vladimir Putin meddled in the last election to help President Trump.

Barr, who has been directly involved in the investigation, reportedly traveled to London over the summer to discuss matters with UK intelligence officials – telling NBC that he was there “to introduce Durham to the appropriate people and set up a channel through which he could work with these countries.”

Meadows told Bannon that impeachment is about power dynamics between the establishment’s approach to foreign policy vs. President Trump’s agenda:

 

“It’s a policy and power debate. I want to emphasize the power. This is all about are we going to let the American people along with their representatives and the President of the United States establish foreign policy or are we going to let the intel and national security apparatus continue to do whatever they’ve done for years which is not effective. That’s the reason why there was such a big pushback with Brennan and Clapper.

He notes: “Their day is coming. I promise you. Their day is coming.” -War Room: Impeachment

end

v) King report/Courtesy of Chris Powell of GATA which includes the major swamp stories.

WaPo: Airstrike at Baghdad airport kills Iran’s most revered military leader, Qasem Soleimani, Iraqi state television reports – It was not clear who carried out the strike, but the death of Soleimani, the Iranian Quds Force commander [The State Department estimates that Iran is responsible for killing 608 US troops in Iraq.], seems certain to send tensions soaring between the United States and Iran…    https://www.washingtonpost.com/world/national-security/defense-secretary-says-iran-and-its-proxies-may-be-planning-fresh-attacks-on-us-personnel-in-iraq/2020/01/02/53b63f00-2d89-11ea-bcb3-ac6482c4a92f_story.html

U.S. Marines have arrested multiple Iran-backed military leaders in Iraq – Al Arabiya

@bhweingarten: The notion we’ve just started a war w Iran is a farce. Iran’s been at war w US since 1979. The fact it has proxies all over the globe… Taking out Solemaini is a game-changer in that it shows America will not stand idly by when a foreign adversary constantly pokes and prods us, and worse kills our people. This is a loud and clear message to North Korea too—as well as its Chinese Communist Party backer

Trump’s Iran strategy is working. Pompeo right to call out ex-Obama team members

Secretary of State Pompeo accused members of the Obama administration of undermining President Trump’s maximum pressure campaign on Iran this week by telling the Iranians to “just hang on” until Trump loses in 2020…  https://www.foxnews.com/opinion/trump-iran-strategy-pompeo-obama-team-members-marc-thiessen

Obama’s NSC Holdovers Finally Booted After Three Years of Non-Stop Leaks

The reform is being led by National Security Adviser Robert C. O’Brien, who told the Times that 40-45 NSC staff officials had been sent back to their home-agencies, and more are likely to be moved out…

https://www.zerohedge.com/political/nsc-obama-holdovers-finally-booted-after-three-years-non-stop-leaks

Trump re-election campaign raises $46 million in fourth quarter – a major haul that was boosted by a surge of donations in the wake of the Democrats’ impeachment bid…The Trump campaign begins the 2020 re-election year with cash on hand of $102.7 million, the official told Reuters…The amount raised by the RNC for the fourth quarter of 2019 is expected to be released soon…

https://www.reuters.com/article/us-usa-election-trump/trump-re-election-campaign-raises-46-million-in-fourth-quarter-idUSKBN1Z10OC

@jennfranconews: 2020 presidential campaign raises $34.5 million in Q4 of 2019, making him the first Democratic candidate in history to receive that many donations at this point in a primary campaign.

Teachers are a big source of funds for Bernie Sanders.

@Rasmussen_Poll: Joe Biden still leads the Democratic presidential pack, but as the campaign season begins in earnest, he has fallen to his lowest level of support to date… http://bit.ly/36uxu0k

Yesterday, Pelosi made a public speech in which she appeared to be impaired or doing a Foster Brooks impersonation.  https://twitter.com/GregNorberg/status/1212431913685700609

Hillary Clinton appointed chancellor of Queen’s University, Belfast   [5-year contract]

The role of chancellor is mainly a ceremonial one..  https://www.bbc.com/news/uk-northern-ireland-50970400

 

Why would Hillary take a ‘ceremonial position’ in Northern Ireland?  Ex-NSC Dir. @RichHiggins_DC: That Article 4 exemption is concerning….. There are “giant” holes in the extradition treaty.  Read article 4 of the treaty.

 

Article 4 of the US-UK-Northern Ireland Extradition Treaty exempts political offenses.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/243246/7146.pdf

 

US judge fears man might flee to Ireland   July 24, 2014

Echenberg was publicly voicing the long-held, private views of prosecutors and federal agents, including many US marshals, that once a fugitive lands in Ireland, it’s hugely difficult to get the individual extradited, particularly if it is an Irish citizen

https://www.irishexaminer.com/ireland/-us-judge-fears-man-might-flee-to-ireland-276519.html

Well that is all for today

I will see you Monday night.

 

 

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