JAN 30/OPTIONS EXPIRY TOMORROW FOR LBMA/OTC SO EXPECT A RAID ON OUR PRECIOUS METALS: TODAY GOLD ROSE BY $13.05 TO $1584.45//SILVER UP 47 CENTS TO $17.98//TOMORROW IS FIRST DAY NOTICE AND WE WILL WITNESS HOW MANY TONNES OF GOLD WILL STAND FOR FEBRUARY//CORONAVIRUS UPDATE FROM CHINA AND THE GLOBE//HUGE NUMBER OF SWAMP STORIES FOR YOU TONIGHT//

GOLD:

$1584,45  UP $13.05    (COMEX TO COMEX CLOSING)

 

 

 

 

 

Silver:$17.98  UP 47 CENTS  (COMEX TO COMEX CLOSING)

THERE WILL BE AN ATTEMPTED RAID TOMORROW AS WE ENTER THE FINAL DAY OF LBMA/OTC OPTIONS EXPIRY. I CAN ASSURE YOU THAT MANY STRONG HANDS ARE WAITING FOR THE ATTACK AND WILL BE LOOKING TO CONVERT THOSE PAPER CONTRACTS INTO REAL METAL.

 

 

Closing access prices:

Gold :  $1574.00

 

silver:  $17.82

 

 

 

 

COMEX DATA

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

today RECEIVING: 0/7

EXCHANGE: COMEX
CONTRACT: JANUARY 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,569.800000000 USD
INTENT DATE: 01/29/2020 DELIVERY DATE: 01/31/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
435 H SCOTIA CAPITAL 7
657 C MORGAN STANLEY 2
732 C RBC CAP MARKETS 1
737 C ADVANTAGE 2
905 C ADM 2
____________________________________________________________________________________________

TOTAL: 7 7
MONTH TO DATE: 2,716

we are coming very close to a commercial failure!!

NUMBER OF NOTICES FILED TODAY FOR  JAN CONTRACT: 7 NOTICE(S) FOR 700 OZ (0.0217 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  2716 NOTICES FOR 271600 OZ  (8.4447 TONNES)

 

 

 

 

SILVER

 

FOR JAN

 

 

10 NOTICE(S) FILED TODAY FOR 50,000  OZ/

total number of notices filed so far this month: 1005 for  5,025,000 oz

 

XXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: OPENING MORNING TRADE :  $ 9379 UP $78

 

 

 

Bitcoin: FINAL EVENING TRADE: $ 9542. UP 24

 

Let us have a look at the data for today

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IN SILVER THE COMEX OI FELL A STRONG SIZED 4509 CONTRACTS FROM 231,933 DOWN TO 227,424 DESPITE OUR TINY 2 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  GIGANTIC  SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:,

; FEB 0; MARCH:  4387 AND MAY: 0 AND JULY: 0 ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  4387 CONTRACTS. WITH THE TRANSFER OF 4387 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 4387 EFP CONTRACTS TRANSLATES INTO 27.460 MILLION OZ  ACCOMPANYING:

1.THE 2 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

5.075     MILLION OZ INITIALLY STANDING IN JAN

 

WEDNESDAY, 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 2 CENTS).. AND, OUR OFFICIAL SECTOR/BANKERS  WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE  SOME SILVER LONGS AS THE TOTAL LOSS IN OI ON BOTH EXCHANGES TOTALED A TINY 122 CONTRACTS. OR 0.610 MILLION OZ…..

IT SURE LOOKS LIKE WE ALSO HAD SOME MAJOR BANK SHORT COVERING YESTERDAY BECAUSE DEMAND FOR PHYSICAL IS JUST TOO GREAT.

 

 

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

32,916 CONTRACTS (FOR 20 TRADING DAYS TOTAL 32,916 CONTRACTS) OR 164.58 MILLION OZ: (AVERAGE PER DAY: 1645 CONTRACTS OR 7.507 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JAN: 164.58 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 20.38% 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 2020 TO DATE SILVER EFP’S:          164.58 MILLION OZ.

JANUARY 2020 EFP TOTALS SO FAR: 164.58 MILLION OZ

 

 

RESULT: WE HAD A GIGANTIC SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 4509, DESPITE THE 2 CENT GAIN IN SILVER PRICING AT THE COMEX /WEDNESDAY… THE CME NOTIFIED US THAT WE HAD A VERY  HUGE SIZED EFP ISSUANCE OF 4387 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 LOST A TINY SIZED  SIZED: 122 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: 

i.e 4387 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH DECREASE OF 4509 OI COMEX CONTRACTS.AND ALL OF THIS  DEMAND HAPPENED WITH A 2 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $17.51 // WEDNESDAY’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. 1.182 BILLION OZ TO BE EXACT or 169% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JAN MONTH/ THEY FILED AT THE COMEX: 10 NOTICE(S) FOR  50,000 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:  5.075 MILLION 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 FELL BY A HUGE SIZED 20,834 CONTRACTS TO 694,705 AND MOVING AWAY FROM OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE HUGE FALL IN COMEX OI OCCURRED WITH OUR GAIN OF $0.40 IN PRICING ACCOMPANYING COMEX GOLD TRADING// WEDNESDAY//  PARALLELING MONDAY, TUESDAY AND WEDNESDAY WHEREBY WE  THE LOSS AT THE COMEX WAS DUE TO SPREADER LIQUIDATION AND HUGE BANKER SHORT COVERING..

 

 

 

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED GOOD SIZED 6464 CONTRACTS:

JAN 2020: 0 CONTRACTS, FEB>  530 CONTRACTS; MARCH 00 APRIL: 5151; JUNE. 783 AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 694,705,.  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 HUGE SIZED LOSS IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 14,370 CONTRACTS: 20,834 CONTRACTS DECREASED AT THE COMEX  AND 6,464 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS OF 14,370 CONTRACTS OR 1,437,000 OZ OR 44.69 TONNES.  TUESDAY WE HAD A TINY GAIN OF $0.40 IN GOLD TRADING.

AND WITH THAT GAIN IN  PRICE, WE  HAD A HUGE LOSS IN GOLD TONNAGE OF 44.69  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 $0.40).  IT SEEMS THAT THEIR ATTEMPT TO FLEECE  GOLD LONGS FROM THE GOLD ARENA FAILED AS ALMOST ALL LOSS IN COMEX OI WAS DUE TO SPREADER LIQUIDATION..AND BANKER SHORT COVERING

 

 

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 : 175,528 CONTRACTS OR 17,552,800 oz OR 545.96 TONNES (20 TRADING DAYS AND THUS AVERAGING: 8776 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 20 TRADING DAY(S) IN  TONNES: 545.96 TONNES

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

THUS EFP TRANSFERS REPRESENTS 545.96/3550 x 100% TONNES =15.37% OF GLOBAL ANNUAL PRODUCTION

 

 

ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE:    545.96  TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; SO FAR: 545.96 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 HUMONGOUS SIZED DECREASE IN OI AT THE COMEX OF 20,834 WITH THE  PRICING GAIN THAT GOLD UNDERTOOK WEDNESDAY($0.40)) //.WE ALSO HAD A  STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 6464 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 TH GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 6464 EFP CONTRACTS ISSUED, WE  HAD A HUGE SIZED LOSS OF 14,370 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

6464 CONTRACTS MOVE TO LONDON AND 20,834 CONTRACTS DECREASED AT THE COMEX. (IN TONNES, THE LOSS IN TOTAL OI EQUATES TO 44.69 TONNES). ..AND THIS  DECREASE OF DEMAND OCCURRED WITH THE GAIN IN PRICE OF $0.40 WITH RESPECT TO WEDNESDAY’S TRADING/// AT THE COMEX.

 

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

GLD...

 

 

WITH GOLD UP $13.05 TODAY

 

A BIG CHANGE IN GOLD INVENTORY AT THE GLD//

A DEPOSIT OF:  4.09 TONNES OF PAPER GOLD

LET US SEE WHAT THE CROOKS DO TO THE INVENTORY AS WE EXPECT A RAID

 

JAN 30/2019/Inventory rests tonight at 903.50 tonnes

 

 

 

 

 

SLV/

 

 

WITH SILVER UP 47 CENTS TODAY

A BIG CHANGE IN SILVER INVENTORY AT THE SLV//

A PAPER DEPOSIT OF: 1.027 MILLION OZ INTO THE SLV

 

JAN 30/INVENTORY RESTS AT 362.746 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 FELL BY A STRONG SIZED 4509 CONTRACTS from 231,933 DOWN TO 227,424 AND FURTHER FROM OUR 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 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

 

EFP ISSUANCE 5429

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  4387:  AND MAY: 0; JULY: 0 CONTRACTS   AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 4387 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE OI LOSS AT THE COMEX OF 4509 CONTRACTS TO THE 4387 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A SMALL GAIN OF 597 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES: 0.610 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: 5.075 MILLION OZ//

 

 

RESULT: A STRONG SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE 2 CENT GAIN IN PRICING THAT SILVER UNDERTOOK IN PRICING// WEDNESDAY. WE ALSO HAD A STRONG SIZED 4387 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)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED   //Hang Sang CLOSED    /The Nikkei closed DOWN 401.65 POINTS OR 1.72%//Australia’s all ordinaires CLOSED DOWN .38%

/Chinese yuan (ONSHORE) closed/Oil UP TO 52.15 dollars per barrel for WTI and 58.31 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED DOWN // LAST AT xxxxx AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.9932 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 xxx LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW PHASE ONE COMPLETED.WORKING ON PHASE TWO..

 

 

3A//NORTH KOREA/ SOUTH KOREA

 

3b) REPORT ON JAPAN

3C  CHINA

i)CHINA

HUNDREDS OF STRANDED FOREIGNERS ARE NOW TRAPPED INSIDE WUHAN

(ZEROHEDGE)

i b)CORONAVIRUS/UPDATE THIS MORNING FROM WUHAN(ZEROHEDGE)

ii)The virus is very strange.  Somehow in some children it does does display symptoms..it raises the fears of latent community outbreaks

(zerohedge)

iii)China/coronavirus/USA

The advent of the coronavirus could hinder Beijing’s ability fo fulfil;l phase one of the trade deal with the uSA

(zerohedge)

4/EUROPEAN AFFAIRS

i)GREAT BRITAIN

the pound rises as Carney keeps interest rates steady despite poor economic numbers.  This is Carney’s last meeting and he will be replaced by FCA head Andrew Baileyu

(zerohedge)

ii)5G/GERMANY USA/HUAWEI

USA passes intelligence to Germany with respect to Huawei’s influence from Chinese state intelligence operations.  The USA provided Germany with a “smoking gun”

on the Huawei dossier which compromised European security.

(zerohedge)_

iii)GERMANY/DEUTSCHE BANK

After slashing bonuses our perennial zombie bank now delays promised pay rises

(zerohedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

6.Global Issues

i)ITALY/INDIA/CORONAVIRUS//

Update news on the global advance of the coronavirus

\(zerohedge)

ii)Brandon Smith on how the globalist will use the pandemic to solidfy their agenda

(Brandon Smith)

7. OIL ISSUES

 

8 EMERGING MARKET ISSUES

 

9. PHYSICAL MARKETS

i)Gold’s good friend Jan Nieuwenhuijs (Koos Jansen) writes that China’s central bank is still intervening in the gold market enough to raise prices by at least 0.5%

(courtesy Nieuwenhuijs/GATA)

ii)Thom Calandra/GATA

If you are looking for mining prospects, try the Calandra report

(Thom Callandra/GATA

iii)The London’s financial times gives a rare compliment to gold

(Sanderson/London’s Financial Times/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

GDP rises to only 2.1%.  However imports are plunging as well as consumption..not a good mix

(zerohedge)

iii) Important USA Economic Stories

a)JPMorgan our perennial crook is slashing hundreds of jobs across its consumer division as they are finding it more difficult to rape consumers.

(zerohedge)

b)Senator Cotton is now calling for the immediate shut down of all flights form China to the uSA

(Watson/Summit News)

iv) Swamp commentaries)

a)Michael Flynn files defense motion saying that his former legal team has conflict of interests and betrayed him

quite a story..

(Sara Carter)

b)Lindsay Graham says that if necessary he has the votes to secure a tsunami of witnesses: the Bidens, the Whistleblower/Schiff, Schiff’s staff etc

(zerohedge)

c)This is big:  Ukrainian Prosecutor Victor Shokin files a federal complaint against Joe Biden

(Gateway Pundit)

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

 

Attachments area

LET US BEGIN:

 

 

Let us head over to the comex:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY GIGANTIC SIZED 20,834 CONTRACTS TO 694,705 MOVING AWAY FROM OUR  RECORD THAT WAS SET LAST WEEK: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS LOSS IN OI WAS SET WITH A GAIN OF $0.40 IN GOLD PRICING //WEDNESDAY’S // COMEX TRADING). AGAIN,  A GOOD PORTION OF THE LOSS IN OI COMEX WAS DUE TO THE LIQUIDATION OF THE SPREADERS, AND BANKER SHORT COVERING.  THE SPREADING  LIQUIDATION OPERATION WILL CONTINUE UNTIL FIRST DAY NOTICE, THIS FRIDAY, WHEN ALL SPREADS ARE NULLIFIED.

 

 

WE ARE NOW IN THE  NON ACTIVE DELIVERY MONTH OF JAN..  THE CME REPORTS THAT THE BANKERS ISSUED A ,GOOD SIZED  TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 6,464 EFP CONTRACTS WERE ISSUED:

  FEB: 530; MARCH 00 AND APRIL: 5151,  JUNE : 783 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 6464 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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A CONSIDERABLE SIZED 14,370 TOTAL CONTRACTS IN THAT 6,464 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A HUGE 20,834 COMEX CONTRACTS. MOST OF THE LOSS WAS DUE TO THE LIQUIDATION OF THE SPREADERS AND BANKER SHORT COVERING.

THE BANKERS SUPPLIED THE NECESSARY AND INFINITE AMOUNT OF SHORT PAPER IN GOLD.  THE BANKERS WERUNSUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT ROSE BY $0.40). AND THEY WERE MOST DEFINITELY  UNSUCCESSFUL IN FLEECING ANY LONGS, WITH ALMOST ALL OF THE LOSS IN COMEX DUE TO THE SPREADERS AND A HUGE BANKER SHORT COVERING OPERATION…. IN TOTAL WE LOST A CONSIDERABLE SIZED  14,370 CONTRACTS ON OUR TWO EXCHANGES….

 

NET LOSS ON THE TWO EXCHANGES ::  14,370 CONTRACTS OR 1,437,000 OZ OR 44.69 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:  694,705 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 69.47 MILLION OZ/32,150 OZ PER TONNE =  2,160 TONNES

THE COMEX OPEN INTEREST REPRESENTS 2,160/2200 OR 98.21% 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 7 open interest left to be served upon, for a LOSS of 3 contracts.   We had 3 notices served up on yesterday so we GAINED 0 contracts or an additional NIL oz will  stand for delivery in this non active delivery month of January and by their actions they negated receiving a fiat bonus

 

The next active delivery month after January is February and here we witnessed a LOSS OF  66,746!!!!! in contracts DOWN to 33,950.  

March GAINED 974 contracts to stand at an open interest of, 3527.

The next active delivery month after March is April and here we witnessed a gain of 40,552 contacts up to 494,959 oi contracts.

We had 7 open interest notices served upon today for 700 oz

the front month of February is not contracting enough (WITH RESPECT TO OI) and thus it seems we will have another strong amount of gold standing for delivery. We have just 1 more reading day before first day notice.  

 

 

 

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And now for the wild silver comex results

Total COMEX silver OI FELL BY A STRONG SIZED 4509 CONTRACTS FROM 231,933 DOWN TO 227,424 (AND FURTHER FROM THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018 (244,196).  THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND OUR  OI COMEX LOSS OCCURRED WITH A 2 CENT GAIN IN PRICING/WEDNESDAY.

 

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

Here we have a GAIN of 0 contracts TO 10. We had 10 notices served on yesterday, so we GAINED 10 CONTRACTS or 50,000 additional oz will stand at the comex for delivery  during this non active delivery month of January. Our resolute longs refused to morph into London based forwards.

 

 

After January, we have  the non active month of February and here we saw a loss of 20 contracts TO A LEVEL OF  235.  March is a very active month and here we witness a LOSS of 5619 contracts  DOWN TO 160,797

WE ARE GOING TO HAVE A STRONG FEBRUARY SILVER STANDING FOR METAL.

 

 

We, today, had  10 notice(s)  for 50,000, OZ for the JAN, 2019 COMEX contract for silver

Trading Volumes on the COMEX TODAY:395,629 contracts    

 

 

 

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  531,120 contracts

 

 

 

INITIAL standings for  JAN/GOLD

 

 

 

Let us head over to the comex:

 

 

JAN 30/2020

 

 

Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
5593.968 oz
brinks
loomis
includes 171 kilobars
Deposits to the Dealer Inventory in oz nil oz

 

 

 

 

 

Deposits to the Customer Inventory, in oz  

779,732 oz

delaware

jpmorgan

 

incl 18 kilobars

 

No of oz served (contracts) today
7 notice(s)
 700 OZ
(0.0217 TONNES)
No of oz to be served (notices)
0 contracts
(nil oz)
0.0 TONNES
Total monthly oz gold served (contracts) so far this month
2716 notices
271,600 OZ
8.447 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  2 kilobar entries

 

 

 

total dealer deposits: nil oz

total dealer withdrawals: 0 oz

 

we had 2 deposit into the customer account

i) Into JPMorgan: nil  oz

 

 

i)into Delaware:  578.700…18 kilobars

ii) into JPMorgan:  201.032

 

 

total deposits:  779.732  oz

 

 

 

we had 2 gold withdrawals from the customer account:

i) Out of Brinks:  96.318 oz
ii) Out of Loomis: 5497.65 oz…171 kilobars

 

 

total gold withdrawals;  5593.968 oz

 

ADJUSTMENTS:  2

i) Out of int. Delaware:  675.17 oz ..adjustment from the dealer to the customer and thus a deemed settlement:  0210 tonnes

ii) Out of Scotia: 14,210.229 oz was adjusted out of the customer and this lands into the dealer Scotia

 

 

 

NEW PLEDGED GOLD:  BRINKS

3027.500 OZ  REMOVED TO THE PLEDGED ACCOUNT JAN 10.2020/Brinks

176,211.457 oz NOW PLEDGED  JAN 21.2020/HSBC  5.4807 TONNES

 

 

 

 

 

 

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 7 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 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 (2716) x 100 oz , to which we add the difference between the open interest for the front month of  JAN. (7 contracts) minus the number of notices served upon today (7 x 100 oz per contract) equals 271,600 OZ OR 8.448 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 (2716 x 100 oz)  + (10)OI for the front month minus the number of notices served upon today (7 x 100 oz )which equals 271,600 oz standing OR 8.448 TONNES in this  NON active delivery month of JAN.

WE GAINED 0 CONTACTS OR AN ADDITIONAL nil OZ WILL NOT STAND AT THE COMEX AND THUS THEY MORPHED  INTO LONDON BASED FORWARDS.

 

 

 

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE ONLY 34.956 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS.

HERE IS WHAT STOOD DURING THESE PAST 6 MONTHS:  AUGUST 27.153 TONNES

SEPT:                                                                      5.4525 TONNES

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

NOV……                                                                5.3841 tonnes

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

JAN……………………                                                    8.448 TONNES

 

total: 130,340 tonnes

ACCORDING TO COMEX RULES:

 

IF WE INCLUDE THE PAST 6 MONTHS OF SETTLEMENTS WE HAVE 20.035 TONNES SETTLED

 

IF WE ADD THE FIVE DELIVERY MONTHS: 130.340  tonnes

 

Thus:

130.340 tonnes of delivery –

20.035 TONNES DEEMED SETTLEMENT

= 110.305 TONNES STANDING FOR METAL AGAINST 40.704 TONNES OF REGISTERED OR FOR SALE COMEX GOLD! THIS IS WHY GOLD IS SCARCE AT THE COMEX.

 

total registered or dealer gold:   1,484,875.674 oz or  46.185 tonnes
which  includes the following:
a) pledged gold held at HSBC + BRINKS  which cannot settled upon   176,211.457 oz x ( 5.4807 TONNES)//
b)registered gold that can be used to settle upon:1,308,664.2  (40.704 tonnes)
true registered gold  (total registered – pledged tonnes  1.308664.2  (40.704 tonnes)
total registered, pledged  and eligible (customer) gold;   8,698,016.821 oz 270.54 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.
3. NO GOLD IS ENTERING 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

IN TOTAL CONTRAST TO GOLD, HUGE ACTIVITY IN SILVER TODAY.
JAN 30 2019
Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
 693,415.773 oz
BRINKS
HSBC
lOOMIS

 

 

Deposits to the Dealer Inventory
nil oz

 

Deposits to the Customer Inventory
NIL  oz
No of oz served today (contracts)
10
CONTRACT(S)
(0,000 OZ)
No of oz to be served (notices)
0 contracts
 nil oz)
Total monthly oz silver served (contracts)  1015 contracts

5,075,000 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 0 deposits into the customer account

into JPMorgan:   0

 

ii) Into  everybody else:  0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*** 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 50.2% of all official comex silver. (161.3 million/321.37 million

 

 

 

 

total customer deposits today:  nil  oz

we had 3 withdrawals out of the customer account:

 

i) Out of BRINKS: 5960.15 OZ

ii)  Out of HSBC 601,773.056 oz

iii) Out of Loomis: 85,682.507 oz

 

 

 

 

 

 

total withdrawals; 693,414.773   oz

We had 0 adjustments:

 

 

 

total dealer silver:  79.845 million

total dealer + customer silver:  320.677 million oz

 

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The total number of notices filed today for the JAN 2020. contract month is represented by 10 contract(s) FOR 50,000 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 1015 x 5,000 oz =5,075,000 oz to which we add the difference between the open interest for the front month of JAN. (10) and the number of notices served upon today 10 x (5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JAN/2019 contract month: 1015 (notices served so far) x 5000 oz + OI for front month of JAN (10- number of notices served upon today (10) x 5000 oz equals 5,075,000 oz of silver standing for the JAN contract month.

WE GAINED 10 CONTRACTS OR AN ADDITIONAL 50,000 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 10 notice(s) filed for 50,000 OZ for the JAN, 2019 COMEX contract for silver

 

 

TODAY’S ESTIMATED SILVER VOLUME:  91,791 CONTRACTS //

 

 

CONFIRMED VOLUME FOR YESTERDAY: 68,081 CONTRACTS..

 

 

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 68,081 CONTRACTS EQUATES to 340 million  OZ   48.6.% OF ANNUAL GLOBAL PRODUCTION OF SILVER..

 

 

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

 

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NPV for Sprott

 

1. Sprott silver fund (PSLV): NAV FALLS TO -0.78% ((JAN 30/2019)

2. Sprott gold fund (PHYS): premium to NAV RISES TO +0.08% to NAV (JAN 30/2019 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/ -0.78%

(courtesy Sprott/GATA)

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

NAV 15.55 TRADING 15.27///DISCOUNT  1.83

 

END

 

 

 

 

And now the Gold inventory at the GLD/

JAN 30/WITH GOLD UP 413.05 TODAY: A BIG CHANGES IN GOLD INVENTORY AT THE GLD: A PAPER DEPOSIT OF 4.09 TONNES INTO THE GLD/INVENTORY RESTS AT 903.50 TONES

JAN 29/WITH GOLD UP 0.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 899.41 TONNES

JAN 28/WITH GOLD DOWN $6.70 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 1.17 TONNES FROM THE GLD////INVENTORY RESTS AT 899.41 TONNES

JAN 27//WITH GOLD UP $6.15 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 900.58 TONNES

JAN 24//WITH GOLD UP $6.65 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.76 TONNES INTO THE GLD//INVENTORY RESTS AT 900.58 TONNES

JAN 23/WITH GOLD UP $8.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 898.82 TONNES

JAN 22/WITH GOLD DOWN $1.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A MAMMOTH 19.33 TONNES OF PAPER GOLD ADDED//INVENTORY RESTS AT 898.82 TONES

JAN 21/2010//WITH GOLD DOWN $2.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 879.49 TONNES

JAN 17/WITH GOLD UP $9.60 TODAY: A BIG CHANGES IN GOLD INVENTORY AT THE GLD: ANOTHER PAPER DEPOSIT OF 1.17 TONNES//INVENTORY RESTS AT 879.49

JAN 16//WITH GOLD DOWN $3.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.80 TONNES OF GOLD INTO THE GLD./INVENTORY RESTS AT 878.32

JAN 15/WITH GOLD UP $9.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 874.52 TONNES

JAN 14/WITH GOLD DOWN $5.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 874.52 TONNES

JAN 13/WITH GOLD DOWN $8.75 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 7.6 TONNES OF GOLD WHICH WAS USED IN THE RAID TODAY////INVENTORY RESTS AT 874.52 TONNES

JAN 10/WITH GOLD UP $5.80 TODAY:NA HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 4.69 TONNES//INVENTORY RESTS AT 882.12 TONNES

JAN 9/WITH GOLD DOWN $5.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 886.81 TONNES

JAN 8/WITH GOLD DOWN $14.10 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 9.37 TONNES FROM THE GLD//INVENTORY RESTS AT 886.81 TONNES

JAN 7/WITH GOLD UP $7.00 A GOOD INVENTORY PAPER DEPOSIT OF 0.88 TONNES  IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 896.18 TONNES

JAN 6/WITH GOLD UP #15.40 NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 895.30 TONNES

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

 

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JAN 30/2019/Inventory rests tonight at 903.50 tonnes

*IN LAST 753 TRADING DAYS: 33.96 NET TONNES HAVE BEEN REMOVED FROM THE GLD

*LAST 653 TRADING DAYS: A NET 133.10. TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY.

 

end

 

Now the SLV Inventory/

JAN 30/WITH SILVER UP 47 CENTS TODAY: A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A PAPER DEPOSIT OF 1.027 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 362.746 MILLION OZ

JAN 29/WITH SILVER UP 2 CENTS TODAY: A BIG  CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER DEPOSIT OF 1.587 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 361.719 MILLION OZ//

 

JAN 28//WITH SILVER DOWN 59 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 360.132 MILLION OZ

JAN 27//WITH SILVER DOWN 3 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 327,000 OZ INTO THE SLV..//INVENTORY RESTS AT 359.805 MILLION OZ//

JAN 24//WITH SILVER UP 27 CENTS TODAY: A HUGE PAPER DEPOSIT OF 5.975 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 359.805 MILLION OZ//

JAN 23/WITH SILVER UP ONE CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 353.830 MILLION OZ..

JAN 22/WITH SILVER DOWN ONE CENT: A HUGE CHANGE IN SILVER INVENTORY: A WITHDRAWAL OF 1.027 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 353.830 OZ

JAN 21/WITH SILVER DOWN 24 CENTS TODAY: NO CHANGES IN SILVER INVENTORY FROM THE SLV//INVENTORY RESTS AT 354.437 MILLION OZ//

JAN 17/WITH SILVER UP 12 CENTS TODAY: A SMALL WITHDRAWAL OF 420,000 OZ FROM THE SLV//INVENTORY RESTS AT 354.437 MILLION OZ.

JAN 16/WITH SILVER DOWN 2 CENTS TODAY: A CONSIDERABLE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 840,000 OZ FROM THE SLV//INVENTORY RESTS AT 354,857 MILLION OZ//

JAN 15/WITH SILVER UP 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 355.697 MILLION OZ//

JAN 14/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 355.697 MILLION OZ//

JAN 13/WITH SILVER DOWN 10 CENTS TODAY: A HUGE  CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 1.261 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 355.697 MILLION OZ//

JAN 10/WITH SILVER UP 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 356.958 MILLION OZ//

JAN 9/WITH SILVER DOWN 24 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 3.268 MILLION OZ////INVENTORY RESTS AT 356.958 MILLION OZ///

JAN 8/WITH SILVER DOWN 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 360.226 MILLION OZ//

JAN 7.//WITH SILVER UP 23  CENTS TODAY: ANOTHER MASSIVE PAPER WITHDRAWAL OF 1.214 MILLION OZ IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 360.226 MILLION OZ..

JAN 6/WITH SILVER UP 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 361.440 MILLION OZ///

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//

 

JAN 30.2020:  SLV INVENTORY

362.746 MILLION OZ

 

LIBOR SCHEDULE AND GOFO RATES:

 

 

YOUR DATA…..

6 Month MM GOFO 1.79/ and libor 6 month duration 1.78

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

G0LD LENDING RATE: – .01

 

XXXXXXXX

12 Month MM GOFO
+ 1.84%

LIBOR FOR 12 MONTH DURATION: 1.85

 

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.01

end

 

 

 

 

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

Gold Gains As Investors Eye Economic Impact Of Coronavirus

This image has an empty alt attribute; its file name is gold_3d_b_o_USD.png

NEWS and COMMENTARY

Gold gains as virus fuels economic worry

Gold ends slightly higher as traders eye economic impact of coronavirus

Global stocks tumble over China epidemic worries

U.S. economy growing moderately in fourth quarter

US will keep tariffs on China even if coronavirus starts hurting growth, Trump advisor Peter Navarro says

How the coronavirus outbreak in China could hit manufacturing

China says death toll hits 170, India reports first case

Negative-yielding debt sends investors scurrying into gold

Watch Podcast Here

In this special podcast to celebrate GoldCore’s appointment as an Approved Distributor of The Royal Mint, the GoldCore team discuss the ‘3 Key Things to Protect Your Finances in the 2020s’

Exclusive Gold Offer – For Retail, Pension and HNW Investors

Distributor_colour_RGB

To celebrate our appointment as a Royal Mint Approved Distributor, we are offering newly minted 2020 Gold Britannias and Gold Sovereigns at incredibly reduced premiums for all lump sum and pension investments worth more than £10,000, €12,000 or $14,000.

We are also giving 12 months of Secure Storage free of charge. Investors must trade before March 20th to qualify for the Exclusive Offer.

Key benefits and information here

GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

29-Jan-20 1571.20 1573.45, 1207.31 1209.20 & 1428.38 1429.95
28-Jan-20 1579.60 1574.00, 1212.19 1211.04 & 1433.33 1430.77
27-Jan-20 1583.45 1580.10, 1209.28 1210.04 & 1436.66 1433.94
24-Jan-20 1561.85 1564.30, 1192.63 1194.19 & 1415.04 1418.04
23-Jan-20 1554.05 1562.90, 1182.94 1191.24 & 1401.91 1411.77
22-Jan-20 1558.10 1556.90, 1193.19 1186.20 & 1404.78 1406.04
21-Jan-20 1556.25 1551.30, 1192.87 1188.14 & 1401.25 1397.26
20-Jan-20 1559.25 1560.15, 1200.93 1200.38 & 1406.76 1407.72
17-Jan-20 1556.50 1557.60, 1193.21 1195.15 & 1399.60 1402.93

SIGN UP FOR OUR AWARD WINNING MARKET UPDATES HERE

 

Mark O’Byrne
Executive Director

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

Gold’s good friend Jan Nieuwenhuijs (Koos Jansen) writes that China’s central bank is still intervening in the gold market enough to raise prices by at least 0.5%

(courtesy Nieuwenhuijs/GATA)

Jan Nieuwenhuijs: How China’s central bank distorts the Shanghai gold price

 Section: 

12:09p ET Wednesday, January 29, 2020

Dear Friend of GATA and Gold:

Voima Gold researcher Jan Nieuwenhuijs today reviews data from the domestic and foreign gold exchanges in Shanghai and concludes that the People’s Bank of China is intervening enough to raise domestic gold prices by a half percent.

Nieuwenhuijs concludes: “One reason the PBoC could be manipulating Shanghai Gold Exchange premiums is to let the gold-importing banks make an extra profit. Another could be national pride; to make the Chinese gold market look stronger. Either way, what most analysts look at is ‘SGE premiums over London,’ and these are artificially set.”

Niejwenhuijs’ analysis is headlined “How China’s Central Bank Distorts the Shanghai Gold Price” and it’s posted at Voima Gold here:

https://www.voimagold.com/insight/how-chinas-central-bank-distorts-the-s…

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

END

Thom Calandra/GATA

If you are looking for mining prospects, try the Calandra report

(Thom Callandra/GATA

Looking for mining share prospects? Try the Calandra Report and help GATA

 Section: 

12:26p ET Wednesday, January 29, 2020

Dear Friend of GATA and Gold:

If you’re looking for leads on mining companies with explosive potential, you might want to check out the newsletter of GATA’s friend Thom Calandra, editor of The Calandra Report, who is especially enthusiastic lately about Azimut Exploration and Golden Valley Mines.

Thom strives to identify reliable, profitable, and honest operators in minerals and mining.

Thom identified Azimut Exploration last year, having met the chief scientist and founder of the company. See:

https://thomcalandra.com/quebec-scientist-unearths-veined-gold-at-james-…

More than remarkably, a few days ago AZM rose 175 percent.

… 

Thom is a longtime supporter of GATA, going back almost 20 years, and is making another special offer to other GATA supporters. He will split with GATA a one-year subscription fee of $169 paid by GATA supporters who subscribe to The Calandra Report by February 1. That is, for each GATA supporter who subscribes, Thom will contribute $80 to GATA.

The regular price of The Calandra Report is $229 yearly, so this offer is doubly a bargain. To avail yourself of it, visit PayPal here:

https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=588….

In addition to The Calandra Report, GATA supporters who subscribe by February 1 will receive two bonuses.

— Thom’s frequent “TCR Collateral” missives, which include material from his notebook about financial people, companies, and commodities.

— A special recent issue of The Calandra Report that describes what Thom believes are substantially undervalued gold, silver, zinc, and copper mining companies, as well as a rising biomedical company with a promising new anti-inflammation drug, Antibe Therapeutics.

Check out Thom’s personal message below.

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

* * *

Hello Alpha-GATAs. I have supported GATA since the early 2000s. Over the years GATA Chairman Bill Murphy, Secretary/Treasurer Chris Powell, and I have shared ideas, panel appearances, and even a drink or three.

So I’d like you to join The Calandra Report community. It has been going since 2011, and since 1998 from MarketWatch.com, which I co-founded.

Here’s a small biography:

https://thomcalandra.com/about-thom-calandra/

Here’s a subscription offer exclusively for GATA supporters, like the offer we made last year — that added GATA supporters from the United States, Canada, the United Kingdom, and the Bahamas.

You’ll get the twice-weekly private reports for one year for $169 — along with “TCR Collateral” letters — and GATA will receive fully half of that amount: $85.

Here’s a sample edition of The Calandra Report:

http://gata.org/files/CalandraReport-08-04-2019.pdf

To accept this offer and help GATA, please go here:

https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=588…

Please e-mail me with testimonials, ideas, and names: thom@thomcalandra.com

Thank you. I think you will make money.

— Thom Calandra

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA’s recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here’s what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert’s “Rigged”

“Rigged” is a concise explanation of government’s currency market rigging policy and extensively credits GATA’s work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon —

https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651…

— or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Join GATA here:

Mining Investment Asia
InterContinental Hotel, Singapore
Tuesday-Thursday, March 17-19, 2020
https://www.mininginvestmentasia.com/

Mines and Money Asia
Conrad Hotel, Hong Kong
Tuesday-Wednesday, March 31-April 1, 2020
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

END

 

The London’s financial times gives a rare compliment to gold

(Sanderson/London’s Financial Times/GATA)

Gold gets a rare compliment from the Financial Times

 Section: 

Negative-Yielding Debt Sends Investors Scurrying into Gold

By Henry Sanderson
Financial Times, London
Thursday, January 30, 2020

Investors around the world are hurrying back to bullion.

Holdings in gold-backed exchange traded funds have risen to their highest levels in seven years, following $19.2 billon in inflows last year. Analysts say interest has picked up for a variety of reasons, including fears over slowdowns in big economies, rising geopolitical risks, and an apparent loss of faith in traditional “haven” assets such as Japan’s yen.

… 

But chief among them is a giant mound of negative-yielding debt, now tipping the scales at more than $13 trillion. If buyers of bonds are being asked to pay for the privilege of holding them to maturity, then the appeal of gold — which yields nothing but also costs nothing to hold on to — is burnished.

“You’re seeing flows into the metal. It’s a global trend,” said John Hathaway, co-manager of the Sprott Gold Equities fund. “The typical havens of safety are not that safe anymore and gold is getting a bid for that reason.”

The revival for the yellow metal comes after a fairly bleak few years, in which a steady global economic recovery pushed gold prices down as low as $1,000 a troy ounce in December 2015. …

… For the remainder of the report:

https://www.ft.com/content/d1a5cd9a-4292-11ea-a43a-c4b328d9061c

* * *

END

iii) Other physical stories:

 

https://www.jsmineset.com/2020/01/30/the-precious-metals-regain/

 

The Precious Metals Regain!

Posted January 30th, 2020 at 10:01 AM (CST) by J. Johnson & filed under General Editorial.

 

Great and Wonderful Thursday Morning Folks,

 

Gold has turned sharply higher the day after the January Deliveries closed out with April Gold now at $1,585.50, up $9.50 after reaching $1,588.00 with the low at $1,580.00. To me, Silver is leading this morning’s push thru the “fix” with the March contract at $17.735, up 24.8 cents and close to the high at $17.764 with the ridiculous low of $17.52. The US Dollar is still up there in purchasing power with the value pegged at 97.74, down 7.9 points and close to the low at 97.725 with the high at 97.91. Of course, all of this happened already before 5 am pst, the Comex open, the London close, the Brexit exit, and after Russia closes the Great Wall between itself and China, an Italian cruise liner with 6,000 people on board being quarantined, oh yeah, and after the FOMC meeting in which everything they claim, is rosy and wonderful (for those that print and do not earn).

 

Our emerging markets currency watch really shows how volatile things get when currency print gets out of hand with Venezuela pricing Gold at 15,835.18 Bolivar, showing a gain of 95.88 overnight with Silver at 177.128 Bolivar regaining 2.596. In Argentina, the Peso has Gold’s value at 95,395.92 proving a gain of 699.40 Peso’s with Silver gaining 16.94 with its new price at 1,067.04 Peso’s. Over in Turkey, Gold’s value now rests at 9,487.95 Lira, gaining back 97.82 with Silver at 106.131 Lira, a regain of 2.017.

 

Silver’s Resolute Buyer stepped in on the last day of January Deliveries and added another 13 purchases into the delivery system with the very last single lot order, out of that 13-lot purchase, at the low $17.37 when the other 12 traded higher, up to $17.45. Sure, the order is small, but it adds to the demands that go against the supply. February Silver Deliveries start in earnest on Monday with today’s Open Interest at 235 with a Volume of 16 so far with a trading range at $17.54 (high/low/last) still showing a possible starting order of 1,175,000 ounces of Silver. Not a bad start at all for a cereal month delivery.

 

February Gold’s Open Interest is now at 33,950 Obligations proving a reduction of 68,177 Overnighters with another day or two to go in order to remove the trader’s element from the deliveries. The current Gold count leaves a hefty 3,395,000 Ounce starting order in a “delivery” month which is considered the “a dominant” purchase month while cereal months get ignored by most writers (for now).

 

Silver’s Overall Open Interest regained 3,751 short positions in order to keep Silver from fully reversing during yesterday’s trade bringing the total now to 228,133 Overnighters willing to stay in the trade. Gold’s Overall Open Interest is now at 697,963 Overnighters showing another reduction of 20,953 Obligations as Gold regained all that was lost in price, amazingly during the Options Expiration and closing out of January’s deliveries.

 

This last 3 days have been something else to observe. So much is going on it’s hard to keep up with everything that should have already affected the prices of precious metals, yet here we sit. Waiting, anticipating, and cogitating, on all the manipulating aspects, as the criminal element continues, at the same time it seems the recoveries are shallower, time wise. Maybe it means something this time. The Coronavirus is being touted as “Way Overblown”, then “horribly bad” as the videos are starting to show up that are truly scary! There is truth somewhere in the middle, regardless, right now, it pays to be prepared. As the videos claim, cities with millions of people, are shuttered and without preparations, forcing those that are in harm’s way to stay in harm’s way in order to keep the virus from spreading. Will people be shot at next in order to keep the spread from occurring? I pray for better times, yet am prepared for the worst, as we hope you are prepped as well.

 

Prayers are truly in order at the same we keep that smile on our face and a positive attitude in the head, no matter what…Please do the same and as always…

 

Stay Strong!

Jeremiah Johnson

JeremiahJohnson@cableone.net

END

Gold output for 2019: 3463 tonnes. If

Gold Mine Output Falls For First Time Since 2008

Via SchiffGold.com,

After flat-lining over the last several years, gold mine output fell by 1% in 2019This is further evidence that we could be heading into a long-term and perhaps irreversible decline in gold mine production.

According to the World Gold Council, total gold mine output in 2019 came in at 3,463.7 tons.

 

A particularly weak fourth quarter drove the overall decline in gold production. Mine output fell 2% year-on-year in Q4 to 859.5 tons. According to the WGC, it was the lowest level of fourth-quarter mine output since Q4 2016.

Gold production declined year-on-year in every quarter of 2019.

Although last year marked the first absolute decline in gold production since 2008, it continues a general trend of falling mine output. Gold mine production was up a modest 77.72 tons between 2015 and 2016, 33.92 tons between 2016 and 2017, and 28 tons between 2017 and 2018.

Historically, mine production has generally increased every year since the 1970s. There was a drop in production in 2008, but that was something of an anomaly, as it occurred at the onset of the 2008 financial crisis. The recent slowdown in mine production is more concerning. In fact, many people speculate we may be at or near “peak gold.”

Peak gold is the point where the amount of gold mined out of the earth will begin to shrink every year. Some prominent players in the mining industry think we’re close to that point.

Over the last couple of years, several gold-mining executives have warned we have found most of the world’s minable gold.

For instance, last year, Goldcorp chairman Ian Telfer said“We’re right at peak gold here.”  And during the Denver Gold Forum in September 2017, World Gold Council chairman Randall Oliphant said he thought the world may have already reached that point. Franco-Nevada chairman Pierre Lassonde has also indicated he expects a significant dip in gold production in the coming years. And last spring, a report in Deutsche Welle made the case that we’re approaching peak gold.

Case in point – South Africa was once the world’s leading gold producer. It’s now dropped to number nine globally. In 2018, a study came out saying  South Africa could run out of gold within four decades. Analysts say that at current production levels, the country has only 39 years of accessible gold reserves remaining.

China ranks as the world’s largest gold producer. Chinese mine output fell 6% y-o-y in 2019, marking the third consecutive year of decline.

Overall gold supply was actually up about 2% in 2019 due to a surge in recycling with gold prices on the rise. According to the WGC Recycled gold supply rose 16% y-o-y in Q4, totaling 335 tons. This brought the annual supply of recycled gold to 1,304.1 tons in 2019. That was the highest total since 2012.

But recycled metal cannot meet demand over the longterm.

The biggest problem facing miners is that the easy to mine gold has mostly been dug out of the earth. We’ve had a three-decade decline in the discovery of new gold deposits despite increases in exploration funding. CFRA Research analyst Matthew Miller told Deutsche Welle that gold miners are struggling to grow reserves in line with production.

“The largest and most prolific reserves have already been found.”

Even with gold prices rising, mining companies are having a difficult time coving the higher cost of mining the harder to reach, lower-quality deposits of gold left in the earth.

“We continue to try and manage costs in order to ensure the sustainability of the operations. Given the above-inflation increases in wages (approximately 50% of operating costs) and electricity prices (approximately 20% of operating costs), this has been a challenge,” Senior vice president at Sibanye-Stillwater James Wellsted told MoneyWeb.

When we look at the future of gold, it’s easy to get caught up in the latest geopolitical turmoil or the most recent policy pronouncement by the Federal Reserve. Of course, it’s important to keep abreast of the latest developments in the news cycle. But investors should never lose sight of the most basic fundamentals – supply and demand. The gold industry may well be entering a long-term — and possibly irreversible — period of less available gold. As mining companies find it more difficult to pull gold out of the earth, it will mean less gold for refiners to produce for the consumer market. Remember, gold gets its value from its scarcity.

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 THURSDAY 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: 6XXX/ GETTING VERY DANGEROUSLY CLOSE TO 7:1

//OFFSHORE YUAN:  6.9934   /shanghai bourse CLOSED

 

HANG SANG CLOSED

 

 

2. Nikkei closed DOWN 401.65 POINTS OR 1.72%

 

 

 

 

3. Europe stocks OPENED ALL RED/

 

 

 

USA dollar index DOWN TO 97.93/Euro RISES TO 1.1026

3b Japan 10 year bond yield: FALLS TO. –.06/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 108.85/ 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:: 52.15 and Brent: 58.13

3f Gold UP/JAPANESE Yen UP CHINESE YUAN:   ON -SHORE XXX/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 DOWN for WTI and DOWN FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.40%/Italian 10 yr bond yield DOWN to 0.97% /SPAIN 10 YR BOND YIELD DOWN TO 0.27%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.37: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.16

3k Gold at $1581.40 silver at: 17.78   7 am est) SILVER NEXT RESISTANCE LEVEL AT $18.50

3l USA vs Russian rouble; (Russian rouble DOWN 10/100 in roubles/dollar) 62.99

3m oil into the 52 dollar handle for WTI and 58 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 108.85 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 .9704 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0698 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 0.40%

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 1.56% early this morning. Thirty year rate at 2.03%

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

6.  TURKISH LIRA:  UP  TO 5.9799..

World Stocks Tumble As Viral Pandemic Fears Return, Curve Re-Inverts

If yesterday, algos, millennial traders and generally markets acted as if the coronavirus epidemic was contained, all of that reversed overnight when global stocks and US equity futures across the world tumbled on Thursday as the death toll from the coronavirus epidemic reached 170 with nearly 8000 people now sick…

… forcing airlines to cut flights and stores to close as the potential economic hit from the outbreak came into focus.

And after dismissing the latest escalation on Wednesday, markets perhaps finally read up on what a geometric progression means and decided to freak out on Thursday, just because, with S&P futures tumbling, and undoing all of Wednesday’s gains, as tech giant giants presenting a mixed picture after the bell on Wednesday, with Facebook’s results underwhelming even as Microsoft and Tesla beat expectations.

Or perhaps someone in the market finally learned to do math, and it is ugly: Chinese factories have announced extended holidays, global airlines cut flights and Sweden’s Ikea said it would shut all stores in China. One Chinese government economist said the crisis could cut first quarter growth in the world’s second largest economy to 5% or lower, with the crisis hitting sectors from mining to luxury goods. Investment banks also started to put figures on what the damage could be. Citi has said it expects China’s 2020 growth to slow to 5.5%, after previously predicting it to be 5.8%, with the sharpest slowdown this quarter.

“The economic impact will be determined by the extent to which it spreads,” said Michael Bell, global market strategist at J.P. Morgan Asset Management, adding that hard evidence of a hit to economic data was needed before the impact of the virus could be judged.

Right or not, stocks wasted no time to selloff as pessimism returned, with the MSCI world equity index dropping 0.5% as European shares followed Asian indexes into the red, stoking demand for the perceived security of safe-haven assets from bonds to gold. Europe’s broad STOXX 600 tumbled over 1% in early trade, as all but two sectors traded in the red, with European markets a sea of red, as indexes in Frankfurt, Paris and London all lost between 0.7%-1.3%. Adding to the gloom, disappointing earnings and trading updates weighed further on blue-chip stocks. Royal Dutch Shell plunged 4.8% after fourth-quarter profit halved to its lowest in more than three years.

Earlier in the session, the MSCI index of Asia-Pacific shares ex-Japan fell 2.1% to a seven-week low and has now dropped for six straight sessions as the World Health Organization considered issuing a global alarm on China’s spreading coronavirus. The MSCI Asia Pacific Index extended losses to as much as 1.9%, with all major regional markets trading in the red. Taiwan’s shares slumped after market reopened from holidays, catching up with the slide elsewhere during Lunar New Year. Hong Kong’s Hang Seng Index had its worst two-day performance in almost a year. With China’s economy now expected to deteriorate the longer the outbreak persists, the government is expected to unveil efforts to cushion the economic blow, with the central bank set to keep liquidity ample, according to economists.

Earnings presented a mixed picture, and in addition to the Facebook plunge offset in part by the surge in Microsoft and Tesla, the following reports were notable, courtesy of Bloomberg:

  • Coca-Cola climbed after fourth quarter organic revenue topped analyst estimates.
  • United Parcel Service slipped in early trading after profit outlook fell short of analyst estimates.
  • Royal Dutch Shell fell to the lowest in more than two years after missing profit expectations and scaling back buybacks.
  • Deutsche Bank fluctuated after reporting a larger-than-expected loss in the fourth quarter.
  • Unilever rose despite the company’s slowest quarterly growth in a decade.

Meanwhile, the rush to safety continued with U.S. and German government bond yields falling sharply, with 10-year German bund yields dropping to a three-month low. 10-year Treasuries also fell 3 basis points to 1.5600%, their lowest since October. The yield curve – as measured by the 3M10Y spread, a closely watched indicator of looming recession – again sliding into negative territory.

The pain will likely get worse: the World Health Organisation’s Emergency Committee is due to reconvene later in the day to decide whether the rapid spread of the virus now constitutes a global emergency. “There is some concern about tonight’s presser by the WHO. The fear is that they might raise the alarm bells … so people are taking money off the table,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.

Besides pandemics, there were also central banks: Fed chair Powell acknowledged on Wednesday the risks from any slowdown in the Chinese economy but said it was too early to judge the impact on the United States. The Fed held interest rates steady on Wednesday at its first policy meeting of the year, with Powell pointing to continued moderate economic growth and a “strong” job market.

In Europe, the pound jumped after the Bank of England Governor Mark Carney’s final policy vote, in which the central bank decided to keep rates unchanged despite rising speculation of a rate cut.

Elsewhere in currencies, a risk-averse mood ruled, with exposed Asian currencies and commodities sensitive to Chinese demand extending losses as economists made deep cuts to their China growth forecasts. The Chinese yuan reversed Wednesday’s gains to fall 0.4% to its lowest level since Dec. 30., breaking below the key level of 7 against the dollar. The Australian dollar and the kiwi dollar NZD=D3 both lost 0.3%. The Japanese yen rose 0.2% against the dollar, while the Swiss franc, also seen as a safe haven, also gained. The dollar against a basket of six major currencies was flat.

Oil prices, a barometer of the expected impact of the virus on the world’s economy, resumed their slide. Brent was down 95 cents, or 1.8%, at $58.71 a barrel and has dropped 10% since Jan 20.

Expected data include GDP and jobless claims. Altria, Blackstone, Coca-Cola, UPS, Verizon, Amazon, and Visa are among companies reporting earnings.

Market Snapshot

  • S&P 500 futures down 0.5% to 3,255.25
  • STOXX Europe 600 down 0.6% to 416.87
  • MXAP down 1.8% to 165.99
  • MXAPJ down 2.1% to 536.60
  • Nikkei down 1.7% to 22,977.75
  • Topix down 1.5% to 1,674.77
  • Hang Seng Index down 2.6% to 26,449.13
  • Shanghai Composite closed
  • Sensex down 0.6% to 40,959.55
  • Australia S&P/ASX 200 down 0.3% to 7,008.43
  • Kospi down 1.7% to 2,148.00
  • German 10Y yield fell 1.9 bps to -0.396%
  • Euro up 0.05% to $1.1016
  • Brent Futures down 1.3% to $59.01/bbl
  • Italian 10Y yield fell 7.8 bps to 0.787%
  • Spanish 10Y yield fell 1.9 bps to 0.281%
  • Brent futures down 1.9% to $58.67/bbl
  • Gold spot up 0.2% to $1,579.67
  • U.S. Dollar Index little changed at 98.03

Top Overnight News from Bloomberg

  • Federal Reserve Chairman Jerome Powell signaled that the central bank would pull out the stops to combat a global disinflationary downdraft, foreshadowing a potential shift toward an easier monetary policy over time
  • Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over weak demand in a market already grappling with the spreading coronavirus
  • The European Union stopped short of an outright ban on Huawei Technologies Co. and other Chinese 5G suppliers, seeking to navigate a path between warnings from U.S. President Donald Trump and provoking Beijing
  • Argentina’s government late Wednesday announced its time line for debt negotiations with private creditors, according to a chronology published on the Economy Ministry’s website
  • German unemployment unexpectedly declined at the start of 2020 as businesses ramped up operations after a yearlong industry slump.
  • Europe’s manufacturers started the new year on an upbeat note, the latest sign that the uncertainty that’s shrouded the sector and the region’s economy more broadly has lifted somewhat in recent weeks.
  • The pound held steady Thursday ahead of a delicately-poised Bank of England decision, but the chances are it could stay under pressure in the medium term.
  • China is expected to unveil efforts to cushion the economic blow from coronavirus, with the central bank set to keep liquidity ample and the government likely to step up spending

Asian sentiment was downbeat as the overhang from the coronavirus outbreak continued to take its toll across the region and following an indecisive lead from the US, where markets reacted to the FOMC policy announcement. ASX 200 (-0.3%) and Nikkei 225 (-1.7%) were subdued with underperformance across Australian mining names as demand concerns overshadowed the higher quarterly production updates by Fortescue Metals and Newcrest Mining, but with downside for the broader market stemmed by resilience in financials, while losses in Tokyo were exacerbated by flows into the JPY. KOSPI (-1.7%) was pressured after index heavyweight Samsung Electronics posted a 38% drop in Q4 net and Hang Seng (-2.6%) slipped deeper into correction territory after the number of confirmed coronavirus cases in the mainland increased to 7711 and the death toll now at 170, while the TAIEX (-5.8%) slumped as Taiwan participants returned to the market for the 1st time in 10 days and took their turn to play catch up to the epidemic fears. Finally, 10yr JGBs were higher due to the broad weakness in risk appetite and following upside in T-notes which were supported post-FOMC and saw the US 10yr yield decline to a 3-month low, while the mostly improved results from the 2yr JGB auction added fuel to the upside momentum.

Top Asian News

  • China Seen Boosting Stimulus as Virus Hammers the Economy
  • Taiwan Prepares Measures to Stabilize Stock, Forex Markets
  • Hong Kong Exports Grow 3.3% in December, Beating Estimates
  • Turkey Sticks With Inflation Outlook, Tees Up More Rate Cuts

An overall bleak session in the European equity-space [Eurostoxx 50 -0.9%] following on from a similar APAC handover which saw the Hang Seng post losses in excess of 2.5% – as risk aversion continues to materialise with the virus outbreak. Sectors are mostly in the red with the exception of utilities amid and outperformance/less pronounced downside in defensives to reflect the risk aversion. The energy sector stands as the underperformer amid the price action in the oil complex coupled with downbeat earnings from oil-titan Shell (-3.4%) which account for ~1.2% of the Stoxx600 and ~10% of the FTSE 100 (Shell A and B shares combined). In terms of earning-driven movers: Roche (+0.7%) remain supported by an above-forecast EPS and a dividend increase despite missing on profit and sales forecasts. Swatch (-3.6%) missed on earnings estimates and noted that it sees no quick rebound in its key Hong Kong market. As such, luxury peers are pressured in sympathy with the likes of LVMH (-1.7%), Richemont (-1.7%) posting firm losses. H&M (+9.8%) rose to the top of pan-European index amid stellar numbers and the appointment of a new CEO. Meanwhile, Deutsche Bank (+2.1%) erased opening losses which came amid a deeper than forecast net loss. Losses diminished amidst the conference call which provided investors with reassurance regarding early signs of progress in its overhaul. Other earnings-related movers include Diageo (-1.9%), Volvo (+7.7%), BT (-5.9%) and Unilever (+1.4%).

Top European News

  • Saint-Gobain Sees Closing of Continental Purchase on Feb. 3
  • Siemens Gamesa Plunges on Loss Caused by Unforeseen Charges
  • Carney’s Final BOE Rate Call Is a Knife Edge: Decision Day Guide
  • Nordea Is Said to Name Virgin Money’s Ian Smith as New CFO

In FX, not much bang for the Buck from the Fed as downgrades to the state of US consumption and level of inflation relative to target halted the DXY’s steady rise above 98.000 and sapped broad demand for the Dollar amidst the progressive spread of China’s coronavirus. However, as the death toll and number of cases (confirmed or suspected) continue to mount, Usd/CNH has rebounded further to temporarily test and breach the psychological 7.0000 mark alongside more pronounced depreciation in EM currencies overall, and especially those closely connected or correlated to commodities that are prone to steep price declines on the probability of depressed demand. Hence, the Greenback may well retain a relatively firm underlying bid ahead of data in the form of advance Q4 GDP and initial claims even though a French bank is flagging mild month end selling for portfolio rebalancing purposes.

  • CHF/EUR/JPY/XAU – The renowned, but not always reliable or consistent safe and pseudo safe havens are all outperforming, and particularly the Franc that has been flagging of late. Usd/Chf has retreated towards 0.9700 and Eur/Chf is back below 1.0700 as the single currency remains heavy on the 1.1000 handle within a spread of hefty Eur/Usd option expiries stretching from 1.0985 (1.3 bn) through 1.1000-05 (1.7 bn) to 1.1045-50 (1.1 bn). Note, firmer German state CPIs, solid jobs data and rather mixed Eurozone sentiment indicators have all hardly impacted, but the Euro did get a boost from more month end cross buying vs the Pound at one stage (into 9 am fix as usual). Meanwhile, the Yen has bounced over 109.00 ahead of a raft of Japanese macro releases and Gold remains bid between Usd1575-82/oz parameters.
  • NOK/NZD/AUD/CAD/GBP – A triple blow for the Norwegian Krona as a steeper retracement in crude prices against the backdrop of heightened risk aversion combines with a big retail sales miss to propel Eur/Nok beyond resistance around 10.1200 and close to 10.1500. Similarly, the Kiwi, Aussie and Loonie have all declined through deeper chart support and/or significant levels vs their US counterpart, at 0.6500, 0.6737-25 and 1.3200 respectively, with the latter now eyeing Canadian average earnings for some independent impetus. Conversely, Sterling has staged a stoic recovery to reclaim 1.3000+ status in Cable terms and pare some lost ground vs the Euro within a 0.8454-87 band on short covering and position/hedge tweaking ahead of the BoE at high noon as expectations for a 25 bp rate cut or no move flit either side of evens – check out our full preview of super Thursday via the Research Suite.
  • EM – More pain for regional currencies, but added angst for the Lira as the CBRT Governor echoes Turkey’s Finance Minister with regard to deeming the Try competitive at current levels (circa 5.9800), while maintaining projections for CPI to decelerate further and hit target over the forecast horizon.
  • CBRT Governor says 2020 year-end inflation forecast mid-point 8.2% (Prev. 8.2%), 2021 mid-point at 5.4%, inflation is expected to stabilise around 5% target in the mid-term, downward trend in inflation expected to continue throughout 2021; Current dollarisation at 51% vs. 56% in May 2019, downward trend seen continuing. CBRT maintains their prudential stance.

In commodities, another downbeat session or the energy complex thus far, with prices weighed on by on the ongoing demand implication of the coronavirus, rise in US crude stocks as per yesterday’s DoEs and with the current sentiment also providing further pressure on the contracts. WTI Mar’20 futures found an overnight base at around 52.30/bbl ahead of the Monday’s (and January) low at 52.20/bbl, whilst its Brent counterpart hovers around the 59/bbl at time of writing, with support seen at 58.50/bbl – which marks the January low and has been tested twice this week. On the OPEC -front, the Algerian Energy Minister alluded to the possibility that the March confab will be brought forward to February amid the effect of the Wuhan flu on outbreak on prices, and added that an extension to the output cut pact is possible – no dates have been flagged for a February meeting yet. Moreover, OPEC members are said to be preparing a report on the virus’ impact on energy prices for members to review. Elsewhere, spot gold prices retain an underlying bid, part-aided by the FOMC’s decision yesterday ahead of today’s BOE and WHO presser. Copper prices sees continued downside pressure amid the ongoing coronavirus woes – on a sentiment and demand front with the latter a function of border closures to China.

US Event Calendar

  • 8:30am: GDP Annualized QoQ, est. 2.0%, prior 2.1%
  • 8:30am: Personal Consumption, est. 2.0%, prior 3.2%
  • 8:30am: Initial Jobless Claims, est. 215,000, prior 211,000; Continuing Claims, est. 1.73m, prior 1.73m
  • 9:45am: Bloomberg Consumer Comfort, prior 66

DB’s Jim Reid concludes the overnight wrap

As expected there wasn’t a great deal of new information to take away from the Fed last night although at the margin it did lean a touch dovish. That was certainly how bond markets felt with treasury yields ending the day a fair bit lower with 10yr yields trading at 1.563% this morning – including a move yesterday of -7.2bps – and to their lowest since early October. That leg lower also means yields are down an impressive -36.5bps from the December highs now.

The 2s10s curve also flattened -2.5bps to 16.5bps while Gold nudged up +0.62% – it’s sixth rise in the last seven sessions. Meanwhile, US equities were slightly firmer going into the meeting as they caught a tailwind from the various earnings reports – which seemed to offset the coronavirus headlines – however by the end of Powell’s press conference they had given up pretty much all of those gains. The S&P 500 actually closed slightly lower, down -0.09%, while the NASDAQ and DOW ended up a very modest +0.06% and +0.04% respectively.

As for the specifics of the Fed meeting, rates were left unchanged and there were a couple of small dovish tweaks to the FOMC’s statement. The first was that household spending was described as rising “at a moderate pace”, in contrast to the “strong pace” referred to in December. And the second change was that they said the current stance of policy was appropriate in supporting inflation “returning to the Committee’s symmetric 2 percent objective”. This is a change from last time, where the statement said “near the Committee’s … objective” instead. Chair Powell said in the press conference that the adjustment would underscore the commitment that the 2% target wasn’t a ceiling for the inflation rate.

In terms of policy changes, though they were secondary to the main decision, the interest rate paid on required and excess reserve balances was raised by 5bps to 1.60%, while the rate on the reverse repurchase-agreement facility was also raised by 5bps as well, up to 1.50%. In addition, the FOMC voted for the continuation of term and overnight repo operations at least through April, which had previously been through January. All-in-all our economists expect the Fed to remain on hold this year before cutting 50bps in 2021 in response to persistently below-target inflation, albeit with the risk of a rate cut sooner than they anticipate. See their full summary here.

At the press conference, Powell was asked about the coronavirus and its possible economic effects, saying in response that there was “likely to be some disruption to activity in China and possibly globally”, and that the Fed was “very carefully monitoring” the situation. That said, with a great deal of uncertainty over its eventual course, Powell said he was “not going to speculate”.

Speaking of which, yesterday we got wind that the World Health Organization’s International Health Regulations Emergency Committee would be gathering today over the question of whether to declare a public health emergency of international concern (PHEIC). The WHO emergencies chief said the few cases of human to human spread of the virus outside china in japan, Germany, Canada and Vietnam were of great concern and were part of the reason for calling today’s meeting. Prior to that a number of airlines confirmed that flights to China would be suspended including British Airways, Finnair and Lufthansa as well as some by American Airlines and Air Canada. Overnight, IKEA became the latest company to close all its stores in China beginning today. The governor of Hubei also confirmed that the virus outbreak in Huanggang is “especially severe” – the population for which is only slightly less than London. This morning the latest update is that the number of confirmed deaths is now at 170 (up from 132 yesterday) and confirmed cases at 7,783 (up from 4,515). Chinese universities, primary and middle schools and kindergartens across the country have now postponed the opening of the spring semester until further notice.

Markets in Asia have weakened in tow with the latest virus updates. The Nikkei (-2.00%), Hang Seng (-2.14%) and Kospi (-1.80%) have all seen sharp declines. Taiwan’s TAIEX index is down -5.69% having reopened post the NY holidays. As for FX, the offshore Chinese yuan is down -0.51% to 6.9873 while, the Japanese yen is up +0.12%. Meanwhile, crude oil prices are down around 1% this morning. It’s worth noting also that Samsung Electronics is down -2.88% overnight as the company reported a 39% drop in fourth-quarter net profit, albeit with forecasted improved market conditions in 2020.

After the close we’ve also had a number of high profile US earnings, with tech and industrials again the main focus. Facebook was down around 7% despite beating estimates on revenues and profits for the quarter, with concerns about growing expenses and low growth numbers. Conversely, Microsoft shares were up 4% post-announcement after rallying +1.56% intraday on a larger than expected beat driven by their cloud computing division. Tesla surged as much as 14% after beating expectations with a 2.14 EPS ($1.72 exp.), with the company expecting positive quarterly cash flow going forward “with possible temporary exceptions.” NASDAQ and S&P 500 futures are lower nevertheless, down -0.56% and -0.65% respectively as we go to print.

This followed broadly better than expected earnings reports yesterday. GE rallied +10.32% as the company continues their turnaround,reporting strong cash flows and revising next quarter’s guidance higher. McDonalds was another strong earnings performer, up +1.89% as price hikes helped offset declining store visits. Even a company that missed on earnings like Boeing was higher yesterday, up +1.66%, on a relief rally after 737 Max-related charges came in lower than analysts expected. However, stocks were not completely exempt from virus worries. Similar to Apple the night before, Starbucks management expressed some concerns over next quarter’s numbers after the coffee-maker decided to close more than half of their stores in China. SBUX was down -2.12% on the news even after beating analyst estimates with EPS of $0.79 ($0.76 expected).

Moving on, and next up in the central bank queue today is the BoE, in what should hopefully be a more interesting decision and is also Governor Carney’s last MPC meeting at the helm. The market is pricing in a 46% chance of a cut, though at one stage earlier this month we were pricing in just over a 70% chance before last week’s better than expected PMIs. Our economists expect a dovish meeting today with a 25bp cut, and believe that the case for a cut is strong. For one, there are clear signs of excess capacity in the economy. UK growth has been below potential for nearly two years and recent survey data continue to point to weaker growth. Importantly, inflation remains below the Bank’s 2% mandate (CPI came in at a 3-year low of 1.3% in December), with core CPI and services inflation relatively weak in spite of elevated unit labour costs. In addition Brexit uncertainty is here to stay.

Speaking of Brexit, the European Parliament voted in favour of the Withdrawal Agreement yesterday by a 621-49 margin ahead of the UK’s departure from the EU tomorrow. And in other European news, following the UK decision on Huawei the EU recommended limiting high-risk 5G vendors, including Huawei. EU governments will ultimately have the final word however. US Secretary of State Pompeo responded to the UK’s decision from the day prior by saying that “there is still a chance for the UK to relook at this as implementation moves forward” and also that “we should have western systems with western rules and American information should only pass across a trusted network”. Clearly tensions have been raised between the UK and the US in light of the decision however we have yet to have heard of any link to a trade deal.

Before we wrap up, prior to the Fed yesterday the data in the US included a December advance goods trade deficit of $68.3bn that was wider than expected, weaker than expected wholesale inventories in December (-0.1% mom vs. +0.1% expected) and very soft pending home sales (-4.9% mom vs. +0.5% expected) albeit data that tends to be fairly volatile. In Europe there wasn’t much to report datawise. The ECB’s monthly bank lending data was on the softer and while the bank credit impulse recovered, it still remains at a weak level.

Looking at the day ahead, the focus of the data in the US this afternoon is the advance Q4 GDP print (2.0% annualised qoq expected) while initial jobless claims will also be out. In Europe we’re expecting preliminary January CPI in Germany and January confidence indicators for the Euro Area. The aforementioned BoE meeting is the other big focus. Away from that the ECB’s Weidmann is due to speak while earnings highlights include Amazon, Visa, Roche, Verizon, Coca-Cola, Shell and Unilever.

 

3A/ASIAN AFFAIRS

I)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED   //Hang Sang CLOSED    /The Nikkei closed DOWN 401.65 POINTS OR 1.72%//Australia’s all ordinaires CLOSED DOWN .38%

/Chinese yuan (ONSHORE) closed/Oil UP TO 52.15 dollars per barrel for WTI and 58.31 for Brent. Stocks in Europe OPENED ALL RED/ONSHORE YUAN CLOSED DOWN // LAST AT xxxxx AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.9932 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 xxx LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW PHASE ONE COMPLETED.WORKING ON PHASE TWO..

 

 

 

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

 

b) REPORT ON JAPAN

 

3 C CHINA

CHINA

HUNDREDS OF STRANDED FOREIGNERS ARE NOW TRAPPED INSIDE WUHAN

(ZEROHEDGE)

“It’s Been A Very Difficult Time” – Hundreds Of Stranded Foreigners Are Trapped In Wuhan

Yesterday, we shared the story of an American citizen who has elected to stay behind in ‘virus-plagued’ Wuhan to be with his girlfriend (and his dog). Doug Perez told reporters that he passed up an offer to board the chartered plane that departed the international airport in Wuhan last night with roughly 240 Americans (mostly diplomats) on board.

Fortunately, the US is planning more evac flights now that the first has landed safely in Alaska on its way to California (yet another ‘hot zone’). But in the mean time, some 800 Americans have been left behind (either voluntarily or involuntarily). And they’re not the only ones.

Only the US, France, Japan, The EU, the UK and South Korea have successfully confirmed plans for evacuation flights with China. The UK has said rescued Britons will need to agree to spend two weeks in a quarantine once returning.

Several foreigners in Wuhan and elsewhere have now been diagnosed with the virus (including several Pakistanis and Australians). And as others fear abandonment, they shared their fears and reservations with a reporter from the FT.

Some have been frantically calling their embassies and consulates, but have either been ignored, or unable to get through.

“We have not had any specific information on evacuation. It has been a very difficult time,” said Giuseppe, an Italian national who works at a ceramics company in Wuhan.

One man, a British-born teacher whose Canadian wife is pregnant is worried that they won’t be able to receive adequate medical care for the birth. Desperate for help, he figured that sharing his story with the press might be his young family’s only hope.

Tom Williams, a British teacher in Wuhan whose Canadian wife is 35 weeks’ pregnant, appealed to the government for help in an online post. “I just want to share our story so I can try and get my wife, son and unborn child safely out of the city,” he wrote.

Officials in Beijing said Monday that they would advise against evacuating foreign citizens, but that if governments demanded it, they would cooperate.

“They said they don’t encourage or recommend evacuation. At the same time, they also said if foreign governments decide to evacuate their citizens, they would co-operate,” said one diplomat.

A Spanish football coach of the Wuhan football team said he’d been indoors with his girlfriend for six days.

Dani Carmona, a Spanish coach at a Wuhan football team, said he had stayed indoors for six days with his girlfriend. “We spend the day watching movies, reading…waiting for the permission from the Chinese government and the Spanish embassy to leave,” he said.

The US chartered a plane to remove consulate officials, selling tickets to some non-government staff, including workers at a glass factory owned by industrial company Corning, at a cost of $1,000 per head.

“These travellers will be carefully screened and monitored to protect their health, as well as the health and safety of their fellow Americans here at home,” the US state department said.

 

The US chartered plane was primarily for consular employees, though tickets were sold to some non-government workers. Many described to the FT how they waited anxiously for word about whether they and their families would get the $1,000-a-pop tickets.

The US chartered a plane to remove consulate officials, selling tickets to some non-government staff, including workers at a glass factory owned by industrial company Corning, at a cost of $1,000 per head.

“These travellers will be carefully screened and monitored to protect their health, as well as the health and safety of their fellow Americans here at home,” the US state department said.

Demand for tickets far exceeded supply. Priscilla Dickie, a 35-year-old Chinese language student, had waited anxiously to hear if she and her eight-year-old daughter could board the flight before getting the go-ahead to leave.

“Waiting for that call was really bad,” she said, speaking to the Financial Times at the airport as she passed through a series of “stressful” medical screening tests, with those deemed to be sick facing the possibility of being turned back.

Another American claimed there are still hundreds of Americans left in the city who are growing increasingly desperate.

Patrick Stockstill, a mortgage loan officer from Rhode Island in the US who had also secured seats on the flight, warned that many US citizens remained stuck in the quarantine zone.

“The one thing I want to bring awareness to is that there are still lots of US citizens in Hubei who have not been able to get out,” said Mr Stockstill, who was visiting family in Wuhan and is travelling with his children, one aged three years, and one three months.

Let’s hope they have a decent stockpile of facemasks.

end

The virus is very strange.  Somehow in some children it does does display symptoms..it raises the fears of latent community outbreaks

(zerohedge)

Children With “Stealth” Coronavirus Infections Raise Fears Of ‘Community Outbreaks’

Over the past week, as China has shared data about the novel coronavirus with foreign partners who quickly mapped its genome as the world races to develop a vaccine for the virus which can develop into a potentially deadly case of pneumonia. But several experts, including the drug company Novartis, warned that developing a vaccine might take a year.

In the meantime, epidemiologists are still struggling to understand the mysterious new virus (a virus that some fear was once studied as a potential biological weapon). So far, researchers have determined that the average incubation period for the virus is between five and six days. But as more cases are confirmed, researchers are finding a surprisingly large number of young people and children infected with the virus who display few or no symptoms – yet they’re still contagious.

Bloomberg shared the story of a 10-year-old boy from Wuhan whose entire family including his grandparents fell ill. Yet he displayed no symptoms, and wasn’t tested for the virus until both his parents insisted.

 

The boy’s case was first made public by the Lancet medical journal, which received attention from the international press after publishing research on the outbreak last week. Only five members of the family, including the boy, were infected during a trip to Wuhan. They infected a sixth relative after returning to their unnamed hometown.

A professor of microbiology who spoke with Bloomberg said the case of the 10-year-old boy is extremely concerning because it suggests that many of those infected with the virus might be able to evade typical screening techniques. This could easily fuel a community outbreak if the original case isn’t quickly discovered.

“You may have mild disease spreaders that would be feeding sort of a community outbreak and they don’t go to hospital because they don’t feel that bad,” said Ralph Baric, professor of microbiology and immunology at the Gillings School of Global Public Health at the University of North Carolina at Chapel Hill, who has studied coronaviruses for decades and warned about their threat before the 2003 SARS outbreak.

We already knew that patients who have contracted the virus have shown a wide range of symptoms, ranging from what presents as a mild cold, to something more akin to life-threatening walking pneumonia.

It was “a rather unexpected finding,” Yuen and colleagues wrote. Yet it doesn’t come as a complete surprise to doctors in China trying to unravel the means and ways the new virus is spreading.

“Children and infants’ symptoms are comparatively mild, while older people have more severe symptoms, as of our findings so far,” Feng Zijian, deputy director of the Chinese Center for Disease Control and Prevention, told reporters Wednesday.

“One of the worrying things is the walking pneumonia and especially the younger kids in whom you don’t get as much of an immune reaction,” said John Nicholls, a clinical professor of pathology at the University of Hong Kong and part of the research team that isolated and characterized the SARS virus.

As more cases of the new coronavirus appear around the world, doctors and medical research teams are rushing to try to develop a vaccine or treatments that could prevent its spread. But, as in the SARS outbreak, the most effective methods are thought to be in identifying and isolating patients soon after infection, and then tracing and isolating their potential contacts.

 

Hesitant to completely close travel with China, most airports, airlines, railroads and some governments have instead opted for increasing screenings (though several airlines recently announced plans to cancel flights to China – at least for now) of travelers as their first and most important line of defense.

But if thousands of children exhibit no symptoms, instead acting as silent carriers of the virus, this will undoubtedly complicate efforts to combat the virus’s spread, even with 56 million quarantined and transportation links between the mainland, Hong Kong, Macau and Taiwan temporarily severed.

“Public health controlled SARS because SARS let it,” said Mark Denison, director of infectious diseases and and a pediatrics professor at the Vanderbilt University School of Medicine. That’s unlike influenza, where a larger portion of patients transmit the virus while they are silently incubating the infection.

“So the question is, is this virus more SARS-like, or is it more flu-like?” Denison said. “The data suggests that it’s somewhere in the middle: that it is a more mild disease, but that there may be more transmission.”

This could lead to a growing number of the most vulnerable patients – senior citizens and those with co-occurring health problems – contracting the virus across the world, as whole families catch the virus from asymptomatic children.

END

CORONAVIRUS/UPDATE THIS MORNING FROM WUHAN

(ZEROHEDGE)

“I’m In An Apocalypse” – New Accounts From Wuhan Detail Coronavirus Outbreak

Global equity markets are taking a beating on Thursday as the death toll climbs to 170 from 132, with 7,711 cases of coronavirus confirmed in China and 7,814 worldwide.

The developments over the last several weeks could force the World Health Organization (WHO) to issue a global alert over the alarming infection rate of the deadly virus.

Evidence shows the virus can be transmitted from person to person before any signs or symptoms, which is one of the reasons why the WHO could soon declare a Public Health Emergency of International Concern (PHEIC), as the virus spreads across the world.

Dozens of cities are shut down across China, more than 50 million folks are quarantined to their homes, and experts have warned there’s no vaccine for at least one year, suggests the deadly virus will continue to spread across China and the world.

Airline carriers started to cut flights to and from China on Wednesday. Western companies have announced factory and retail store closings across the country, and this will likely result in a massive loss of business that could produce an economic shock felt around the world.

Late last week, a Wuhan nurse made an emotional video on social media, claiming more than 90,000 have already been infected.

Max Howroute▫️@howroute

I just received an urgent new video uploaded by the Chinese doctor from the quarantine zone in Wuhan. I need your help with translation and it’s very important we get it right before it goes out to major media outlets. I’m posting it in 3 parts. (1 of 3)

Embedded video

On Wednesday, the Epoch Times tweeted an interview with a Wuhan citizen, who says people in the outbreak areas “can’t get any medical treatments” nor “a diagnosis” because hospitals are overloaded with patients. He said people “sit and wait to die.”

“Imagine being a Wuhan citizen…they can’t get any medical treatments, they can’t even get a diagnosis. They can only sit and wait to die.”

The Epoch Times – China Insider@EpochTimesChina

“Imagine being a Wuhan citizen…they can’t get any medical treatments, they can’t even get a diagnosis. They can only sit and wait to die.”

A citizen speaks out about the , and says the symptoms of the virus do not match what authorities are saying.

Embedded video

He warned that transmission of the deadly virus isn’t just “oral” but also “through the eyes.”

He said the government isn’t telling the truth about symptoms, because in many cases, there are no symptoms as people spread the disease during the incubation period, which could be 7 to 10 days before signs are seen.

Another perspective of life in Wuhan is nothing short of an “apocalypse,” said 21-year-old US-born college student Nicholas Schneider, who was interviewed by Reuters on Wednesday.

 

RTRS Schneider interview 

“It’s like a ghost town, barely any people and cars. It’s a weird feeling. I feel like I’m in an apocalypse somehow,” Schneider said via a phone interview.

It’s only a matter of time before cities outside of China are locked down on coronavirus fears as there’s no vaccine for 12 months.

END

China/coronavirus/USA

The advent of the coronavirus could hinder Beijing’s ability fo fulfil;l phase one of the trade deal with the uSA

(zerohedge)

4/EUROPEAN AFFAIRS

GREAT BRITAIN

the pound rises as Carney keeps interest rates steady despite poor economic numbers.  This is Carney’s last meeting and he will be replaced by FCA head Andrew Baileyu

(zerohedge)

Pound Jumps As BOE Keeps Rates Unchanged But Drops “Limited And Gradual” In Leaked Decision

In the end, all of the recent poor economic data out of the UK proved not to be enough for BOE outgoing governor Mark Carney to cut rates in his final meeting. That said, a rate is just a matter of when not if.

Bank of England

@bankofengland

We have kept interest rates at 0.75%. Find out more in our Monetary Policy Report.https://b-o-e.uk/MPR-Jan20

MPC decision

As largely expected, BOE policymakers voted 7-2 (Haskel and Saunders voting to cut) to keep the benchmark at 0.75%, an unchanged split which made a mockery of investor expectations the decision was on a knife-edge. Still, BOE officials dropped reference to “limited and gradual” tightening, signaling the tightening era is over and easing is coming, with the bank’s new forecasts showing inflation only returning to target by the end of 2021 with a quarter-point reduction in the coming year.

Here are the highlights from the decision, as recapped by Ransquawk:

  • The BOE said “some modest” tightening of monetary policy may be needed further out if econ recovers as forecast
  • If the economy develops as it expects, upward pressure on prices should build gradually over the next few years, and in that case, BOE thinks a modest increase in interest rates may be needed to keep inflation at our 2% target
  • Policy may need to reinforce expected growth recovery, if recent signs of stronger global and domestic activity are not sustained
  • The BOE said UK potential growth has weakened due to reduced investment, Brexit
  • Too early to judge impact of Coronavirus
  • BOE assumes an immediate but orderly move, at the beginning of next year, to a deep free trade agreement between the UK and the EU
  • Risks to GDP are ‘broadly balanced’, sees support from government budget
  • Domestic inflation lower than strong unit labour cost growth would suggest, BOE to research further

To be sure, the dovish tone prevailed with the BOE’s new GDP forecasts – 0.8% for 2020 and 1.4% for 2021 – well below November’s 1.2% and 1.8%. Those are also below consensus: Economists in Bloomberg’s January survey forecast 1.1% growth in 2020, and a pickup to 1.5% in 2021.

In summary, “limited and gradual” is gone – that was a line the BOE used to describe the likely path for rate hikes, and as Bloomberg notes, it marks the “end of an era.” Andrew Bailey, who takes over from Carney in March, will have to get working on his own catchy phrase.

The pound jumped 0.5% higher at $1.3084 at 12:01 p.m. London time. Investors are now pricing a rate cut by August.

 

In the end perhaps the most controversial aspect of today’s unchanged decision is that it once again appears to have leaked just moments before the 7am announcement, with GBPUSD spiking a minute before the official release.

END

5G/GERMANY USA/HUAWEI

USA passes intelligence to Germany with respect to Huawei’s influence from Chinese state intelligence operations.  The USA provided Germany with a “smoking gun”

on the Huawei dossier which compromised European security.

(zerohedge)_

Compromised 5G: US Intelligence Presented Germany With Huawei Dossier “Smoking Gun”

Germany’s leading business daily Handelsblatt dropped a Huawei bombshell Wednesday morning which resulted in an immediate vehement denial from the Chinese telecoms giant. “Huawei Technologies has never, and will never, do anything to compromise the security of networks and data of its customers,”the Chinese company insisted in response.

The German newspaper claims to have seen a “smoking gun” classified document in possession of the Federal Foreign Office which definitively links Huawei’s 5G efforts with Chinese state intelligence operations to compromise Europe’s security. Specifically, the leaked foreign ministry internal document cites intelligence shared by US State Department intel officials which is represented as “smoking gun” proof that Huawei remains an unsafe partner for Berlin.

“At the end of 2019, intelligence was passed to us by the U.S., according to which Huawei is proven to have been cooperating with China’s security authorities,” the leaked document says, according to Handelsblatt.

Foreign Minister Heiko Maas (SPD) consistently warned for months that Chinese spooks could exploit “back doors” or other vulnerabilities built into Huawei products and data infrastructure.

At the same time Chancellor Angela Merkal has both delayed and downplayed: “I don’t think I make myself particularly secure if I completely eliminate providers in their entirety and then don’t know how they develop – I am sceptical about that,” she said recently at the World Economic Forum in Davos.

At the height of internal German and EU debate over calls for a blanket ban on Huawei ‘s 5G technology, fearing security risks and backdoor Chinese surveillance, the newspaper report is fueling fresh controversy.

Huawai added as part of its statement: “The Handelsblatt article repeats old, unfounded allegations without providing any concrete evidence whatsoever.”

Handelsblatt included a small selection of what it says is the classified “smoking gun” document on its website.

The specific intelligence information shared by the US side is not contained in the report, while the German foreign ministry has not offered official comment.

The Handelsblatt report concludes that at the very least“The Federal Government apparently knows far more about Huawei’s intelligence contacts than it communicates publicly.”

 

The German report notes further that US Ambassador Richard Grenell, a noted China hawk, gave the German government a damning “Huawei dossier” which included the new intelligence.

 

US Ambassador to Germany Richard Grenell, file image.

Grenell has apparently even issued the veiled threat that “we (the Americans) will be forced to examine how much information we can share with our allies if they ignore this risk.”

The Handelsblatt report also appears timed to tip the scales at a crucial moment that Merkel’s government and her conservative ruling party remain split on the future fate of Huawei’s role in erecting next generation networks.

end

GERMANY/DEUTSCHE BANK

After slashing bonuses our perennial zombie bank now delays promised pay rises

(zerohedge)

After Slashing Bonuses, Deutsche Bank Delays Promised Pay Raises

Look on the bright side: At least you still have a job.

After an almost unrelentingly demoralizing 2019, Deutsche Bank’s CEO is asking his bankers to make one last sacrifice for the sake of Sewing’s grand turnaround vision to keep this melting icecube intact just a little while longer.

What’s he doing, exactly? Well, waiting few extra months for pay raises promised last year.

But hopefully employees don’t read too much into the delay: because of the pay raises taking effect on Jan. 1, bankers will need to wait until April Fool’s Day instead, according to Reuters and the New York Post.

“After thorough discussions, we on the Management Board have taken the decision that, from 2020, any fixed pay adjustments in connection with the annual review or promotion process will be effective April 1 (not retroactively effective as of January 1).”

Unsurprisingly, Sewing blamed the many scandals and penalties that have plagued Deutsche Bank, saying they’ve hastened the need for dramatic cost cuts. For context: The bank has paid out more than $20 billion in fines over the last decade.

“We carefully assessed how this decision would impact our employees and benchmarked ourselves against peers,” Sewing said in a memo obtained by the New York Post.

Sewing stressed that for the bank to become more competitive and avoid even more painful cutbacks, it must be run in a “disciplined manner”. Perhaps he should tell that to his predecessors who allowed the global headcount at the German giant to swell to nearly 90,000.

“For the bank to be competitive and meet its goals for sustainable returns to shareholders it is vital that we further manage costs in a disciplined manner,” Sewing wrote. “This also relates to compensation.”

Deutsche Bank isn’t the only European bank embracing “cost cuts” in its investment-banking unit (though DB bankers will also have to do more with less this year), and Sewing assures his staff that DB’s efforts have been “benchmarked against peers”.

 

“We carefully assessed how this decision would impact our employees and benchmarked ourselves against peers,” Sewing added.

Anybody complaining about the delay should take a second to think about what they have to be thankful for: At least they still have jobs, and will continue to be paid.

“We will continue to compensate employees for their qualifications, experience and skills, commensurate with the requirements, size and scope of their role,” Deutsche Bank said.

Many of their now-former colleagues aren’t so lucky.

END

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

6.Global Issues

ITALY/INDIA/CORONAVIRUS//

Update news on the global advance of the coronavirus\(zerohedge)

Coronavirus Scare Leaves 6,000 Quarantined On Italian Cruise Ship; India Confirms First Case

Update (0725ET): Following several unconfirmed scares, India has confirmed its first case of the novel coronavirus. That means all three of the world’s most populous countries have now confirmed at least one case of the virus.

And that list could soon expand. Brazil, the world’s fifth most-populous country, reported three suspected cases yesterday. Malaysia has confirmed at least 8 cases. Reports that a Thai woman died of the virus on Kolkata were never confirmed.

abantika ghosh@abantika77

First case of in India. One positive case of Novel Coronavirus patient, of a student studying in Wuhan University, has been reported in Kerala. The patient has tested positive for Novel Coronavirus and is in isolation in the hospital: @MoHFW_INDIA @IndianExpress

Meanwhile, here’s the most up-to-date map we could find:

Earlier, the White House said it had launched a task force that will meet daily to oversee the response to the coronavirus outreak that has resulted in at least five confirmed cases in the US, NBC reports. However, an expert who appeared on CNBC Thursday morning pointed out that the administration is a little behind the 8-ball.

If the administration wasn’t so bogged down with impeachment, maybe Trump would have more time to focus on the virus response?

* * *

Update (0710ET): Airline employees are putting their feet down and demanding that their bosses halt flights to China, as more than a dozen airlines around the world have already done.

Air France cabin crew unions have demanded Air France stop flying to China, Reuters reports.

“Air France is monitoring the rapidly evolving situation in real time. The health and safety of its crew remain the absolute priority,” said Air France-KLM.

We’ve heard whispers of employee discontent before. But expect to see more to forcefully object.

* * *

National health officials in Beijing announced a slew of new cases and virus-related deaths early Thursday morning (nearly 8,000 have been sickened, another 12,000 cases are suspected, and roughly 170 have died), but since then, things have been quiet.

If the recent past is any guide, this would suggest another dump of new cases and deaths is in the offing.

Three new cases were confirmed in Vietnam overnight. But in terms of news flow, most of the drama during the early hours of Thursday centered around Italy and Russia.

A map of cases hasn’t yet reflected the suspected cases in Italy.

With the WHO set to reconvene its emergency committee in Geneva on Thursday for the third time in a week, experts are calling on the supra-national organization to label the outbreak a “public health emergency of international concern,” or PHEIC – the official designation of a global pandemic.

The 16 independent experts on the WHO’s emergency committee will advise Director-General Tedros Adhanom Ghebreyesus on the decision and give recommendations for managing the outbreak. Earlier this week, Tedros met Chinese President Xi Jinping in Beijing earlier in the week to discuss the situation. Twice last week, the WHO decided to hold off on declaring a public health emergency, saying it was “too soon,” according to the SCMP.

Hitoshi Oshitani, a former regional adviser on communicable disease surveillance and response at the WHO’s Western Pacific office, told the SCMP that there is an “imminent risk” of a dangerous global outbreak.

“I think the WHO should have declared a public health emergency of international concern earlier. They are supposed to declare PHEIC based on a risk of international spread. There was already significant risk of international spread one week ago,” Oshitani said.

Oshitani added that controlling this new coronavirus is proving more difficult than suppressing the 2003 SARS outbreak, largely because the virus can spread via individuals who are infected, but exhibit few – or no – symptoms.

“For Sars, patients were infectious only when they developed very severe illness. But for this virus, patients are likely to be infectious even during the incubation period. If so, rapid isolation is not enough to contain the virus,” he said.

SARS infected 8,000 people and killed 813 worldwide. The coronavirus outbreak has already surpassed SARS in terms of the number of cases in China. Globally, the virus has already effectively tied SARS for the number of confirmed cases, though if skeptical epidemiologists are correct, the true number of cases has already far surpassed the total for SARs.

A number of evacuation missions have been completed, as the US and Japan have flown citizens trapped in Wuhan to safety. However, Japanese officials discovered that several citizens on the flight were infected with the virus, leading to a mass quarantine. UK officials said that citizens evacuated from Wuhan must agree to spend two weeks in quarantine after returning to the UK.

About 6,000 passengers and crew aboard the cruise ship “Costa Smeralda,” owned by the Carnival Corporation, have been confined to the vessel on Thursday amid new fears that two Chinese passengers are suspected of having coronavirus, reported Reuters.

Two Chinese tourists, traveling from Hong Hong and, originally, from Macau, have been placed in “isolation in separate rooms of the ship’s sanitary space,” said local media outlet, ANSA.

Tgr Rai

@TgrRai

Coppia di cinesi con febbre alta su nave crociera a , bloccati seimila passeggeri: sospetti per , in isolamento nell’ospedale di bordo, raggiunti dai medici dello per realizzare i test @TgrRaiLazio

View image on Twitter

The tourist arrived in Italy on Jan. 25 and boarded the vessel in the port of Savona in Italy. The two have come down with high fevers and breathing problems.

The cabin of the Hong Kong couple on the ship has been isolated and they are closed there with the doctors. They told us that it is the woman who has a very high fever, while her husband is visiting him as a precaution. We arrived in the morning, returning from Palma de Mallorca. Of course, we are a bit worried. From the ship, apart from the doctors, no one goes down and no one goes up. Someone, who has only the flu, remained in the cabin. It is a vacation that risks ending like a nightmare, we hope to go down soon,” a passenger of the ship told ANSA.

The cruise ship has already moored in Marseilles in France and several Spanish ports this week before docking on Thursday at Civitavecchia, north of Rome.

Reuters notes that all passengers have been confined to the ship as tests are underway to determine if the two Chinese tourists have coronavirus.

Carnival shares plunged as much as 8% in pre-market Thursday after the ANSA report.

Now the cruise company has a difficult decision to make: those infected with coronavirus may not exhibit symptoms of the virus during the 7-10 day incubation period but can infect others at high rates. This means if the Chinese tourist test positive, they might have infected the entire ship. That many cases will likely overwhelm Italy’s ability to rapidly respond.

 

Here’s a live view of the cruise ship docked at Civitavecchia.

Shark NewsWires@SharkNewsWires

Update :
– First case reported in Finland
– First case reported in India in Kerala State.
– First case reported in The Philippines
– 7,801 cases in China with 170 dead.
– Russia closes border with China

Shark NewsWires@SharkNewsWires

Update : The Cruise ship Costa Smeralda in , with around 6,000 people on board is on lockdown . There are fears a Chinese couple have the virus. Passengers are not allowed to leave the ship.
Live Video : https://www.pscp.tv/w/1YqKDEPkXLoGV

Local Team @localteamtv

LIVE Caso sospetto di Coronavirus, bloccata a Civitavecchia nave Costa Crociere con 6.000 persone a bordo

pscp.tv

Russia’s newly appointed Prime Minister Mikhail Mishustin on Thursday signed an order to close the country’s border with the Far East to prevent the spread of coronavirus. Russia joins North Korea, becoming the second country to completely shutter its border with the world’s second-largest economy. Although Russia hasn’t provided details about the plan, Russia also border China, Japan and North Korea along the Far East.

Mishustin has also asked Deputy Prime Minister Tatyana Golikova to inform the population on a daily basis about the current situation and preventive measures, according to the Russian press.

Both Russia and the Czech Republic have decided to suspend the granting of visas to Chinese.

Meanwhile, villages and apartment complexes across China are “taking the fight against a deadly viral epidemic into their own hands,” according to AFP.

Some areas are starting to look like something out of a sectarian conflict, complete with check points and makeshift barricades. Groups of locals have constructed makeshift barricades across access roads to keep potentially-infected strangers out.

In one residential compound in Beijing, “a motley stack of shared bicycles have been haphazardly woven together and wired to a wooden ladder, blocking a side gate and forcing visitors to register with guards at the main entrance.”

With more than 50 million people still on lockdown, resentment against the ruling party has intensified, and more Chinese are speaking out on social media, according to the NYT“We gave up our rights in exchange for protection,” the user wrote. “But what kind of protection is it? Where will our long-lasting political apathy lead us?” That post was shared more than 7,000 times.

END
Brandon Smith on how the globalist will use the pandemic to solidfy their agenda
(Brandon Smith)

How Viral Pandemic Benefits The Globalist Agenda

Authored by Brandon Smith via Alt-Market.com,

The world today suffers from highly fragile economic and geopolitical conditions.  This is not news to most people in the liberty movement that have been tracking the downward spiral for years, but it is news to a majority of average Americans who rarely venture to get in-depth information on any issue.  The fact of the matter is, even though there are millions of us who are aware of the danger, we are still in a minority.

This creates a serious set of frustrations.  When the common citizen is oblivious to the existence of a threat, trying to explain to them the source of that threat becomes a waste of time.  How can they see the root of the problem if they don’t even know the problem is there?

Yes, the world is on the verge of a violent sea-change, but this is not the most important issue.  The most important issue is that this precarious situation is not the product of random chance, simple greed, base human frailty or an “overly complex” system as mainstream experts will predictably claim; it is a deliberately engineered chaos box designed to serve the interests of a select few.

The globalist agenda is complicated in design but simple in its goals:  Order out of chaos.  Create or exploit every crisis to manipulate the public into consenting.  But consent for what?

As Richard N. Gardner, former deputy assistant Secretary of State for International Organizations under Kennedy and Johnson, and a member of the Trilateral Commission, wrote in the April, 1974 issue of the Council on Foreign Relation’s (CFR) journal Foreign Affairs (pg. 558) in an article titled ‘The Hard Road To World Order’:

In short, the ‘house of world order’ will have to be built from the bottom up rather than from the top down. It will look like a great ‘booming, buzzing confusion,’ to use William James’ famous description of reality, but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault.”

Global pandemic, whether a natural event or deliberately engineered, actually serves the purposes of the globalist establishment in a number of ways. First and foremost, it is a superb distraction. The general public, overcome with fears of an invisible force of nature that can possibly kill them at any moment, will probably forget all about the much bigger threat to their life, liberty and future – the subsequent collapse of the massive ‘Everything Bubble’ and the globalist “solution” that a pandemic can trigger.

The coronavirus is only a moderate threat in comparison to economic crisis. That said, I want to confront a few issues concerning the virus itself before we get to the economic question.

Virus Disinformation

I have seen a lot of delusional assumptions and outright disinformation being spread by people in regards to this potential pandemic. First, the notion that it was caused by Chinese citizens “eating bats” or being exposed to a live animal market is rather ridiculous. We’ve seen NO hard evidence whatsoever that this is true, and I believe the narrative is a cover for the fact that the city of Wuhan where the virus outbreak began is the home of not one but TWO level 4 biohazard labs.

I have a hard time ignoring the strange “coincidence” of the high level biohazard labs in Wuhan in favor of the idea that the virus was launched by chance due to the odd diets of central Chinese people. Given the evidence it appears that the coronavirus was gestated in a lab, not in someone’s bat and snake soup.  In 2017, scientists outside of China warned that these labs were not secure and that a virus might escape one of the facilities.

I would use the term “escape” loosely, as there is a possibility that this event was created intentionally. The virus itself has certain hallmarks of being engineered (including its long dormant period without visible symptoms) and the current strain is probably derived from the one the Chinese stole a year ago from a lab in Winnipeg, Canada.

But it gets even weirder.

Only three months ago, John Hopkins, the Bill and Melinda Gates Foundation and the World Economic Forum (a hive of self-professed globalists) ran a “pandemic simulation” called “Event 201” specifically focused on Coronavirus.  Not Ebola, or Swine Flu or even Avian Flu – but CORONAVIRUS.  The simulation features the spread of coronavirus in South America, blamed on animal to human transmission (pigs).  The conclusion of the exercise was that national governments were nowhere near ready, scoring 40 out of 100 on their preparedness scale.  The simulation projected over 65 million deaths worldwide.

Event 201 played out almost exactly as it has been in China today.  Some very disingenuous or perhaps rather stupid people have been arguing that this kind of thing is “normal”, claiming that we are “lucky” that the elites have been running simulations in advance in order to “save us” from a coronavirus outbreak.  I assert that Event 201 was not a simulation but a war-game to study the possible outcomes of an event the globalists already knew was coming.  Set aside the fact that before almost every major crisis event and terrorist attack for the past few decades authorities were running simulations for that exact event right before it happened; does anyone really believe that Event 201 is pure coincidence?

Another false assumption that needs to be addressed is the idea that a viral threat will not strike the West, or at least, not the US. This odd bias is one that I don’t think most cultures except Americans suffer from; the belief that they are untouchable and that the system will always avert crisis. From the responses I have been seeing lately many Americans are living in a fantasy world.  Even now, the investment world is placing full stock and hope in the prediction that the Federal Reserve will step in to disrupt any economic downturn related to the pandemic.

Even if the Fed intended to intervene, why would anyone be naive enough to believe the central bank can do anything about how a viral outbreak damages the economy?  Central banks can do nothing but create debt, and debt will not beat back the coronavirus.

In terms of delusional optimism on the pandemic itself, the arguments range from “screening of travelers is too comprehensive to allow the virus to spread here” and “as long as the virus destroys China, who cares…?” This is a narrow view of the situation.

The screening process is terrible, and usually involves basic questions which can be evaded with lies.  But beyond that, the virus is already here. It was circulating through China for at least a few weeks before it was ever addressed by government authorities or the CDC. It also is reported to be asymptomatic, which means it remains dormant, yet also contagious, for up to two weeks before symptoms become visible. This is a far worse scenario than the ebola scare in 2014, in that the coronavirus is able to hide effectively. The only thing that can be done to slow the spread is to shut down ALL international travel, which the CDC and the WHO have no intention of doing right now, not that it matters anymore with over 110 suspected cases in the US already.

So, let’s be realistic. If the virus is as communicable as the CDC and independent scientists claim, then we will see the effects here in America.

Never Let A Good Crisis Go To Waste…

But what do globalists have to gain directly from a coronavirus pandemic beyond simple chaos that can be exploited?

Interestingly, a representative from Johnson and Johnson, one of the companies that may end up designing a “vaccine” for the Cronavirus, suggested during Event 201 that a “centralized” global economic authority in charge of funding and procuring vaccines for various nations in crisis was an option for solving the pandemic.

Gee, that sounds strangely similar to what globalists have been demanding for many years now, and the pandemic just happens to offer a perfect excuse for the creation of such a one-world financial authority.  They might claim that such a system would be temporary according to the life of the pandemic, but this will be a lie.

In terms of the economic effects, even if the virus were to stay primarily in China, the Chinese economy is, in basic terms, the largest in the world; it is the biggest exporter/importer and it is central to the now interdependent global economy. If China’s economy goes down, even for a short time, this will send shockwaves through all other national economies and supply lines.

In May of last year I published an article titled ‘Globalists Only Need One More Major Event To Finish Sabotaging The Economy’. To summarize the situation:

The globalist establishment has created the largest financial bubble in modern history through central bank stimulus, inflating a highly unstable artificial rally in markets while also creating new highs in national debt, corporate debt and consumer debt. The economic fundamentals have been sending alarms for the past two years, and the ‘Everything Bubble’ is showing signs of implosion. It is only a matter of time before the farce collapses by itself. The globalists need scapegoats, but they also need an event or wave of events so distracting that people will not be able to discern what really happened.

The reason why globalists want a collapse is simple – They need crisis in order to manipulate the masses into accepting total centralization, a global monetary system and global governance. They are also rabid believers in eugenics and population reduction. At the very least, a global pandemic is a useful happenstance for them; but the timing of the coronavirus event and their highly accurate “simulation” only three months ago also suggests their potential involvement, as it comes right as the implosion of the Everything Bubble was accelerating.

Consider this: Even if a pandemic does not kill a large number of people, it still disrupts international travel, it disrupts exports and imports, it disrupts consumer behavior and retail sales, and it disrupts domestic trade. If it does kill a large number of people, and if the Chinese government’s response is any indication, it could result in global martial law. With many economies including the US economy already in a precarious balancing act of historic debt vs. crashing demand and useless central bank repo market intervention, there is little chance that the system can withstand such a tsunami.

 

Make no mistake, the crash has already begun, whether the virus hits the US hard or not. The only question is, will this be the trigger event that accelerates the collapse process that is already in motion?

I took my time in publishing this article because I believed it was important to first watch the Chinese, CDC and WHO response to the virus. If they dealt with the situation quickly then there was a chance that it would have only minor influence on the financial system. They did not deal with the situation quickly or decisively. In fact, over 5 million people left the Hubei region of China before active quarantine and treatment procedures began. The situation has spiraled out of control in China and it is clear that the government is now lying through its teeth about the number of sick and dead.

I would not be surprised if we discover in the next two weeks that the death tally is in the thousands, and the sickness rate is actually in the hundreds of thousands. The fact that China has now quarantined over 50 million people in 16 cities suggests the danger is much higher than they have admitted.  If this is the case, then at the very least, the Chinese economy is about to take a massive hit. If the virus doesn’t spread, the economic damage will.

Pandemic Smokescreen, Economic Collapse And “Climate Change”

Look at it this way – The US and China are still currently in the middle of a trade war. The Phase 1 deal was always a joke, because it demands that China quadruple its purchases from the US within the next 1-2 years. This was never going to happen, but the false hope (along with corporate stock buybacks) lifted global stocks out of reversal. Now, there is no chance that China will meet the requirements of the Phase 1 deal and that will soon become evident, as China’s economy will grind down under the weight of the pandemic.

If Trump continues tariffs against a nation in the state of a viral emergency he will look like a monster (which I believe is his job as a globalist puppet pretending to be a conservative nationalist). In the meantime, global trade becomes muddled and the last structural supports of the system snap in half.

With global supply lines frozen and travel eventually restricted, trade will stall.  There is no way around this.  This is not just about China, it is about all nations.  And, ultimately, this is not even about the coronavirus, it is about the financial time bomb that the globalist establishment created.  It is about our economic interdependency and the house of cards we have become.  In the wake of calamity, the globalists will call for even MORE interdependency.  They will claim tragedy struck because we were not “centralized enough”.

Another advantage of the viral crisis is that the establishment will undoubtedly blame the “climate change” and “global warming” hoax for its impetus.  Even though there is absolutely no concrete evidence linking human carbon emissions to climate change or viral outbreaks, given enough public fear globalists will attempt to link the three things together as if it is a proven fact.  Not only will they have a rationale for an economic collapse THEY created, but they can also present a virus engineered by humans in a lab as an “act of nature”, and use it as a rationale for implementing carbon controls

In the next issue of my Wild Bunch Dispatch Newsletter I will be outlining solutions and preparedness options for surviving a pandemic scenario; all is not lost if this event does accelerate as the globalists predicted in their Event 201 model.  It is still hard to say with certainty, but this appears to be the “black swan” that the globalists were waiting for (or planning) all along.  Remaining vigilant in terms of the pandemic is recommended, but do not forget about the economic disaster that will inevitably follow as the coronavirus continues to spread.

*  *  *

If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch.  Learn more about it HERE.

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 THURSDAY morning 7:00 AM….

Euro/USA 1.1026 UP .0012 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS / CORONAVIRUS AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA FALLING INTEREST RATES /FLOODING/EUROPE BOURSES /ALL RED

 

 

USA/JAPAN YEN 108.85 DOWN 0.074 (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 1.2485   DOWN   0.0052  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT EXTENDED TO JAN  31/2020//

USA/CAN 1.3218 UP .0020 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  THURSDAY morning in Europe, the Euro FELL BY 8 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1219 Last night Shanghai COMPOSITE CLOSED 

 

//Hang Sang CLOSED

/AUSTRALIA CLOSED DOWN 0,38%// EUROPEAN BOURSES ALL RED

 

Trading from Europe and Asia

EUROPEAN BOURSES ALL RED 

 

 

2/ CHINESE BOURSES / :Hang Sang CLOSED 

 

 

/SHANGHAI CLOSED DOWN 

 

Australia BOURSE CLOSED DOWN. 38% 

 

 

Nikkei (Japan) CLOSED DOWN 401.65  POINTS OR 1.72%

 

 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1580.90

silver:$17.77-

Early THURSDAY morning USA 10 year bond yield: 1.56% !!! DOWN 2 IN POINTS from WEDNESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

 

The 30 yr bond yield 2.03 DOWN 1  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 97.93 DOWN 6 CENT(S) from  WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing THURSDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.28% DOWN 1 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: -.06%  DOWN 1   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.27%//DOWN 3 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0,94 DOWN 3 points in basis points yield from yesterday./

 

 

the Italian 10 yr bond yield is trading 67 points higher than Spain.

 

GERMAN 10 YR BOND YIELD: FALLS TO –.41% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.35% 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 THURSDAY

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

Euro/USA 1.1027  UP     .0013 or 13 basis points

USA/Japan: 108.74 DOWN .235 OR YEN UP 24 Basis points/

Great Britain/USA 1.3099 UP .0078 POUND UP 78  BASIS POINTS)

Canadian dollar DOWN 21 basis points to 1.3219

 

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The USA/Yuan,CNY: AT XXX    ON SHORE  (XX)..GETTING DANGEROUS

THE USA/YUAN OFFSHORE:  6.9961  (YUAN DOWN)..GETTING REALLY DANGEROUS

TURKISH LIRA:  5.9811 EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield closed at -.06%

 

Your closing 10 yr US bond yield DOWN 3 IN basis points from THURSDAY at 1.56 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.03 DOWN 1 in basis points on the day

Your closing USA dollar index, 97.85 DOWN 14  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 THURSDAY: 12:00 PM

London: CLOSED DOWN 101.61  1.36%

German Dax :  CLOSED DOWN 187.88 POINTS OR 1.41%

 

Paris Cac CLOSED DOWN 83,12 POINTS 1.40%

Spain IBEX CLOSED DOWN 68.80 POINTS or 0.72%

Italian MIB: CLOSED DOWN 383,63 POINTS OR 1.59%

 

 

 

 

 

WTI Oil price; 52.32 12:00  PM  EST1

Brent Oil: 58.44 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    63.32  THE CROSS HIGHER BY 0.78 RUBLES/DOLLAR (RUBLE LOWER BY 78 BASIS PTS)

 

TODAY THE GERMAN YIELD FALLS  TO –.41 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 :  52.93//

 

 

BRENT :  59.16

USA 10 YR BOND YIELD: … 1.59..plus one basis pt…

 

 

 

USA 30 YR BOND YIELD: 2.06 plus 2 basis pts..

 

 

 

 

 

EURO/USA 1.1032 ( UP 18   BASIS POINTS)

USA/JAPANESE YEN:1078.97 DOWN .021 (YEN UP 2 BASIS POINTS/..

 

 

USA DOLLAR INDEX: 97.85 UP 14 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3090 UP 70  POINTS

 

the Turkish lira close: 5.9783

 

 

the Russian rouble 63.19   DOWN 0.65 Roubles against the uSA dollar.( UDOWN 65 BASIS POINTS)

Canadian dollar:  1.3196 UP 2 BASIS pts

USA/CHINESE YUAN (CNY) :  XX  (ONSHORE)/

 

USA/CHINESE YUAN(CNH): 6.9847 (OFFSHORE) we need to watch these levels/

 

German 10 yr bond yield at 5 pm: ,-0.40%

 

The Dow closed UP 124.99 POINTS OR 0.44%

 

NASDAQ closed UP 23.77 POINTS OR 0.44%

 


VOLATILITY INDEX:  15.49 CLOSED DOWN .90

LIBOR 3 MONTH DURATION: 1.773%//libor dropping like a stone

 

USA trading today in Graph Form

Stocks Panic-Bid, Bonds Dumped After WHO Doublespeak Over “Global Pandemic”

Deaths surge, Cases spike, Human-to-human transmission in US, WHO says “global pandemic”, and the death count is rising faster than SARS…

and the machines desperately keep trying to ignite momentum. in the immortal words of one veteran trader looking on as the so-called market exploded back to unchanged after WHO did what everyone had feared and declared this a GLOBAL PANDEMIC: “this entire market is a f**king joke!”

  • 0640ET *WHO: PERSON-TO-PERSON VIRUS SPREAD IN JAPAN, VIETNAM, GERMANY
  • 1240ET *CDC CONFIRMS FIRST PERSON-TO-PERSON U.S. CORONAVIRUS INFECTION
  • 1440ET *CORONAVIRUS IS INTERNATIONAL HEALTH EMERGENCY: WORLD HEALTH ORG

So panic-buy?

The message from the rest of the world…

China continue to be closed, but A50 futures tumbled back to recent lows today – lowest close since June…

Source: Bloomberg

European stocks all slumped today…

Source: Bloomberg

The Dow, S&P, and Nasdaq all managed to surge into positive territory – after the worst possible set of news headlines…

Well engineered short squeeze to keep The Dow green in 2020…

Source: Bloomberg

For some reason, cyclicals were suddenly panic-bid on the bad news…

Source: Bloomberg

Trannies and Small Caps are notably in the red year-to-date and The Dow is clinging to UNCH before the WHO Doublespeak sparked a rebound…

MUST KEEP DOW GREEN YEAR TO DATE

TSLA went full turbo overnight as someone got a huge tap on the shoulder and puked their shorts…

Source: Bloomberg

And reminded more than a few people of a certain DotCom stock…

Source: Bloomberg

Bonds and stocks are ridiculously decoupled…

Source: Bloomberg

Treasury yields extended their decline on the week before a ridiculous spike after the WHO news…

Source: Bloomberg

30Y tested down to a 1 handle… (and 10Y below 1.55%)

Source: Bloomberg

And perhaps most notably, the yield curve has re-inverted with 3m10Y now at -3bps…

Source: Bloomberg

Before we leave rates-land, we also note that the market is panic-pricing in almost 2 rate-cuts now for 2020

Source: Bloomberg

The dollar trod water for a =4th day, roundtripping overnight strength with selling in the EU/US day…

Source: Bloomberg

Yuan ended weaker but no thanks to panic-bid after WHO…

Source: Bloomberg

Cryptos continued to rise today in a very uniform manner…

Source: Bloomberg

Commodities chopped around like everything else…

Source: Bloomberg

Copper futures fell for a record 11th day in a row today…

 

As Bloomberg noted, copper’s slump may be an indication that we’re due for a bigger pullback in the U.S stock market. The metal, which is viewed as an indicator of Chinese economic health, has fallen for 11 straight sessions. It’s now at its lowest level since September, when trade tensions with China dominated headlines and the S&P 500 slid more than 3% in three weeks.

Now, it’s the coronavirus that’s prompting concerns about the Chinese economy. With the country hitting pause on production, construction, and other economic activity, industrial demand concerns are pushing copper lower. And since American and Chinese manufacturing are highly correlated, this slowdown could translate over to U.S. equities.

Source: Bloomberg

WTI traded down to a $51 handle to a critical support level…

Source: Bloomberg

But then again – traders panic-bid oil too…

Finally, some have wondered if the surge in Bernie Sanders has also weighed on stock market sentiment…

Source: Bloomberg

And we’ll let Guggenheim’s Scott Minerd have the last word…

Scott Minerd

@ScottMinerd

There is no doubt that we are in the “everything bubble.” Pick your asset class and prices are up. But the heavily indebted corporate sector is vulnerable if the begins to slow.

Deutsche Bank prophetically write this a month ago, reflecting on the market’s ability to entirtely ignore potentially terrible news in the short-term…

“When extreme events begin to saturate the info-sphere on daily basis (sometimes even intraday), reality unfolds too fast – we no longer remember (or don’t care about) the headlines from two or three weeks ago. Our perspective and assessment of the horizon (“cognitive eyeballing”) is distorted. We are blinkered by intensity of information we have to process – overwhelmed by both its quantity and speed of its arrival – and no longer seem to be unable to properly assess the risks ahead of us, and have become insensitive to them. The distorted perspective downplays the risk of “hitting the ground”. The informational intensity transcends our capacity for statistical approximation and this rarefication of control affects the temporal regime of our decision making. As a consequence, our horizons flatten and everything that resides beyond immediate future is bundled as “long-term” — we appear to be indifferent to its temporal distance — it is all equally remote and equally out of grasp and we capitulate on our efforts to forecast beyond short term horizons.”

It seems given the BTFD efforts in the last week in the face of increasingly scary data on the Wuhan virus, that DB nailed it. And now we are in the “longer-term” and reality is inescapable… even if we still believe The Fed can save us all from every- and any-thing.

“Fed has transformed from uninvolved player to an active convexity manager and its major supplier.”

end

And now your more 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

Dow ‘Dead-Cat-Bounce’ Dies As “Not Contained” Virus Fears Spread

The Dow is down 200 points this morning, erasing all the mid-week gains… didn’t we learn the l;esson last week?

30Y Yields are trading barely above a 1 handle…

Source: Bloomberg

So once again, bonds were right all along?

END

Stocks Leg Lower After CDC Confirms First Person-To-Person Virus Spread In US

Well that changes things…

The Centers for Disease Control and Prevention and Illinois public health officials confirmed Thursday the nation’s first person-to-person transmission of the coronavirus.

The new patient is the spouse of the Chicago woman who brought the infection back from Wuhan, China, the epicenter of the outbreak, CDC officials said during a press briefing.

Equity markets, desperate to believe that this is contained… are catching on…

It would appear that WHO has no choice but to declare emergency now.

 

“These developments in terms of the evolution of the outbreak and further development of transmission, these are of grave concern and has spurred countries into action,” Dr. Mike Ryan, executive director of the WHO’s health emergencies program said.

“What we know at this stage, this is still obviously a very active outbreak and information is being updated and changing by the hour.”

As a reminder, in 2003 there was NO human-to-human transmission of SARS in the US.

Developing…

ii)Market data/USA

GDP rises to only 2.1%.  However imports are plunging as well as consumption..not a good mix

(zerohedge)

Q4 GDP Rises 2.1%, Beating Expectations As Plunging Imports Offset Consumption Slump

After rising 2.1% in the third quarter, moments ago the BEA reported its first estimate of Q4 GDP, which was unchanged from the last quarter, rising at an annual rate of 2.1%, beating expectations of a 2.0% print despite a miss in personal consumption, with the GDP number benefiting from a surge in net trade as a result of a 1.32% boost from imports.

Ironically, the trade war-related slide in imports gave an outsize boost to the GDP calculation, as consumer spending cooled and nonresidential business investment registered a third straight drop, for the longest slump since 2009.

The fourth-quarter increase in real GDP reflected increases in consumer spending, government spending, housing investment, and exports which were partially offset by decreases in inventory investment and business investment. Imports, a subtraction in the calculation of GDP, decreased.

What is notable is that after surging in Q2 and Q3, personal consumption moderated sharply to 1.8% SAAR from 3.2% in Q3, missing expectations of 2.0% print, and contributing 1.20% to the GDP number from 2.12% last quarter, growing at the slowest pace in three quarters.

The Q4 breakdown was as follows:

  • Personal consumption: 1.20%, down from 2.12%
  • Fixed Investment: 0.01% up from -0.14%
  • Private Inventories: -1.09%, down from -0.03%
  • Exports: 0.17% up from 0.11%
  • Imports: 1.32% up from -0.26%
  • Government: 0.47%, up from 0.30%

The increase in consumer spending reflected increases in goods (led by clothing and footwear) and services (led by health care). The increase in government spending reflected increases in both federal and state and local government. The decrease in inventory investment reflected a decrease in retail trade inventories (led by motor vehicle dealers). The decrease in business investment reflected a decrease in structures (led by mining exploration, shafts and wells) and equipment (led by industrial equipment).

Government spending also gave GDP a boost, with gains in both federal and state and local outlays.

As noted above, the hail mary in this report was net trade which accounted for 1.49% of the 2.08% GDP number (of which imports were 1.32%), the most since 2009. The irony is that this was actually negative as trade collapsed mostly in the form of plunging imports. Such a “boost” via net exports is the flipside to trade war and/or weaker consumption-investment-inventory figures, because unless the plunge in imports (a boost to GDP) is a function of rising domestic production (hardly), they actually reflect weaker domestic demand.

One bright spot was residential investment, which advanced at the fastest rate in two years, as builders picked up the pace of construction and prospective homebuyers benefited from low mortgage rates and a solid job market. Business investment in software was also solid.

Excluding trade, inventories and government, real sales to private domestic purchasers rose just 1.4%, the slowest pace since 2015, indicating weaker underlying growth.

Meanwhile, in good news for the market, the Fed’s preferred inflation metric, PCE rose 1.3% Q/Q, dropping from 1.6% last quarter as prices of goods and services purchased by U.S. residents increased 1.5% in the fourth quarter after increasing 1.4% in the third quarter. Core PCE rose only 1.3% after increasing 1.8% in the third quarter, and missing expectations of a 1.6% increase.

end

iii) Important USA Economic Stories

JPMorgan our perennial crook is shalshing hundreds of jobs across its consumer division as they are finding it more difficult to rape consumers.

(zerohedge)

JPMorgan To Slash Hundreds Of Jobs Across Consumer Division 

JPMorgan Chase & Co. is expected to announce several hundred layoffs in the coming weeks, according to a Bloomberg source.

Layoffs could be seen across the company’s consumer unit, which houses 50% of the bank’s revenue. The most affected subunits could include auto lending, home mortgages, and credit cards.

The cuts come at a time when JPM recorded some of the highest profits ever with $36.4 billion, due to a 56% increase in stock and bond trading in the fourth quarter, after it single-handedly triggered the repo crisis, forcing the Fed to launch ‘Not QE.’

The layoffs are expected to be announced on February 6th, the source said, adding that the cut will be about 1% of employees in the unit.

We noted Tuesday that JPM decided to keep annual bonuses flat across its investment bank segment for the 2019 year.

Banks around the world who are supposed to benefit from rising asset prices thanks to the central banks’ injecting unprecedented liquidity into markets – unveiled last year, the most significant round of job cuts in four years.

Banks are slashing jobs at record speeds in response to a synchronized global slowdown and adoption of automation.

JPM has cut more than 7,000 jobs from the consumer unit in the four years through 2018, and it’s likely the cuts will continue.

 

Fifty banks in 2019 slashed upwards of 78,000 jobs, the most since 91,448 announced in 2015.

Morgan Stanley last month fired 2% of its workforce, or approximately 1,500 workers, due to slowdown fears.

Earlier this month, Barclays Plc slashed 100 senior staff at its investment bank unit. These cuts were primarily made in Europe and the U.S.

Goldman Sachs has had its fair share of layoffs and pays reduction in 2019.

END

Just A Matter Of Time…

Authored by Michael Every via Rabobank,

A slightly more dovish Fed (see below), and the corresponding perceived increase in the odds of further stimulus by the US central bank, failed to excite investors much as the coronavirus continues to dampen the mood on global markets. Asian equities are down sharply again, with the Hang Seng index losing 2.9%, and both the Nikkei 225 and the KOSPI currently down 1.7% on the day. While it appeared like the initial virus scare had faded, this risk-off sentiment was reinvigorated by news that the virus may spread unnoticed, and news that the WHO may reconsider declaring a global emergency as “progress of the virus in some countries, and especially human-to-human transmission” are worrying them.

US Treasury yields fell on the back of the risk-off sentiment and reassessment of the FOMC’s likely next policy move. The 10y Treasury has dipped below 1.6%, dragging German Bund yields down alongside.

As we note in a report published just prior to this Daily, experience with virus outbreaks in the past shows that markets often bounce back quickly, but even if the virus outbreak turns out be comparable to SARS, its global economic effects are likely to be larger, as China has a much bigger share in the global economy nowadays. At this point, we don’t expect any permanent damage of the epidemic to the Chinese economy or other regions across the globe, but in case of a further spread of the virus globally or in case of defaults among China’s highly indebted non-financial corporates due to the containment measures, the risk of permanent damage increases significantly.

Barring such a scenario, the effects of the risk-off sentiment are probably temporary.

Yet, to the extent that the fall in yields wasn’t driven by the coronavirus, but by a re-evaluation of the FOMC’s future policy stance, this decline may be a bit more permanent.

The FOMC kept the target range for the federal funds rate unchanged at 1.50%-1.75%, but the Board of Governors, as expected, did make an upward technical adjustment of 5bp to the IOER and the ON RRP rate to force the effective federal funds rate closer to the midpoint of the current target range.

Powell repeated that it would take a ‘material reassessment’ of the economic outlook to change the current stance of monetary policy. But, overall, the FOMC statement and Powell sounded dovish with a slight downgrade in their assessment of household spending; a more explicit commitment to get inflation back to target; an acknowledgement of the serious nature of the coronavirus; and the acknowledgement of remaining trade policy uncertainty. Finally, Powell said that the phase one trade deal and the USMCA were potentially positive developments, but he stressed also that trade policy uncertainty remains elevated with businesses having a wait and see attitude whether this is going to be sustained.

As our US strategist, Philip Marey, concludedon balance, it sounded as if any ‘material reassessment’ of the outlook is more likely to lead to a rate cut than a hike. Of course, he has long warned that the US economy is actually already late in the cycle, rather than the Fed’s assessment that their ‘mid-cycle adjustment’ will be sufficient to keep the economy humming along nicely. And, Philip argues, it is just a matter of time before the FOMC realises this as well. Therefore, we expect the Fed will be forced to cut rates all the way back to zero before the end of the year.

Furthermore, the FOMC decided to keep supporting the repo market, directing the Open Market Desk to continue its purchases of Treasury bills at least into Q2, and to continue its term and overnight repo operations at least through April (instead of January). Given the recent expansion of the balance sheet, Philip estimated that a 5 to 10bp technical hike to the IOER should be sufficient to push the effective federal funds rate back up towards the midpoint of the target range. The Fed opted for the lower of these two options yesterday. So, with the Fed continuing to expand its balance sheet, we may see the Board make another 5bp hike in the IOER and ON RRP rates (at least relative to the target for the federal funds rate) somewhere down the road.

end

Senator Cotton is now calling for the immediate shut down of all flights form China to the uSA

(Watson/Summit News)

Senator Calls For Immediate Shut Down Of All Flights From China To US

Authored by Paul Joseph Watson via Summit News,

Senator Tom Cotton is calling for an immediate shut down of all flights from China to the U.S., warning that Beijing is lying about the full extent of the coronavirus outbreak.

The death toll from the virus, which has now reached every region in mainland China, has risen to 170 with 7,711 confirmed cases of people being infected.

Republican Senator Tom Cotton is urgently calling for stronger action to prevent the virus spreading in the United States.

“Russia has closed its ENTIRE 2,600-mile border with China. Time to shut down travel between China and US,” Cotton tweeted.

Tom Cotton

@SenTomCotton

Russia has closed its ENTIRE 2,600-mile border with China. Time to shut down travel between China and US. https://www.foxnews.com/world/russia-signs-order-close-border-china 

Russia closes border with China as coronavirus spreads: reports

Russian Prime Minister Mikhail Mishustin signed an order on Thursday to close the border between Russia and China, according to local reports.

foxnews.com

“Israel shuts down commercial flights with China. Time to shut down flights between US and China,” he tweeted separately.

Tom Cotton

@SenTomCotton

Israel shuts down commercial flights with China. Time to shut down flights between US and China. https://www.timesofisrael.com/el-al-stops-china-flights-due-to-deadly-virus-outbreak/ 

El Al stops China flights due to deadly virus outbreak

As coronavirus death toll hits 170, airline announces flights will only resume on March 25; services to Hong Kong continue as usual

timesofisrael.com

Cotton also warned that the number of coronavirus cases was probably far higher than Chinese authorities are admitting to.

Tom Cotton

@SenTomCotton

Good morning. There was a 28% increase in coronavirus cases overnight in China. Make no mistake, though: these aren’t “new” cases. Just what China is willing to admit. It’s much worse.

The Senator is also calling on the World Health Organization to reverse its decision to not the coronavirus a global health emergency immediately.

Yesterday, the CDC announced that 195 American citizens who returned from the epicenter of the virus outbreak in Wuhan were not under quarantine and would be allowed to leave March Air Reserve Base in California.

*  *  *

My voice is being silenced by free speech-hating Silicon Valley behemoths who want me disappeared forever. It is CRUCIAL that you support me. Please sign up for the free newsletter here. Donate to me on SubscribeStar here. Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.

end

iv) Swamp commentaries

Michael Flynn files defense motion saying that his former legal team has conflict of interests and betrayed him

quite a story..

(Sara Carter)

 

Flynn’s Defense Files Motion Saying His Former Legal Team “Betrayed Him”

 

Authored by Sara Carter via SaraACarter.com,

Former National Security Advisor Michael Flynn filed a supplemental motion to withdraw his guilty plea Wednesday citing failure by his previous counsel to advise him of the firm’s ‘conflict of interest in his case’ regarding the Foreign Agents Registration Act form it filed on his behalf, and by doing so “betrayed Mr. Flynn,” stated Sidney Powell, in a defense motion to the court.

Flynn’s case is now in its final phase and his sentencing date, which was scheduled for Jan. 28, in a D.C. federal court before Judge Emmet Sullivan was changed to Feb. 27. The change came after Powell filed the motion to withdraw his plea just days after the prosecutors made a major reversal asking for up to six months jail time. The best case scenario for Flynn, is that Judge Sullivan allows him to withdraw his guilty plea, the sentencing date is thrown-out and then his case would more than likely would head to trial.

 

Powell alleged in a motion in December, 2019 that Flynn was strong-armed by the prosecution into pleading guilty to one count of lying to FBI investigators regarding his conversation with former Russian Ambassador Sergey Kislyak. Others, close to Flynn, have corroborated the accounts suggesting prosecutors threatened to drag Flynn’s son into the investigation, who also worked with his father at Flynn Intel Group, a security company established by Flynn.

In the recent motion Flynn denounced his admission of guilt in a declaration,

“I am innocent of this crime, and I request to withdraw my guilty plea. After I signed the plea, the attorneys returned to the room and confirmed that the [special counsel’s office] would no longer be pursuing my son.”

He denied that he lied to the FBI during the White House meeting with then FBI Special Agent Peter Strzok and FBI Special Agent Joe Pientka. The meeting was set up by now fired FBI Director James Comey and then-Deputy Director Andrew McCabe, who was also fired for lying to Inspector General Michael Horowitz’s investigators. Strzok was fired by the FBI for his actions during the Russia investigation.

Flynn stated:

“When FBI agents came to the White House on January 24, 2017, I did not lie to them. I believed I was honest with them to the best of my recollection at the time. I still don’t remember if I discussed sanctions on a phone call with Ambassador Kislyak nor do I remember if we discussed the details of a UN vote on Israel.”

Powell Targets Flynn’s Former Legal Team

Powell noted in Wednesday’s motion that Flynn’s former defense team at Covington & Burling, a well known Washington D.C. law firm, failed to inform Flynn that their lawyers had made “some initial errors or statements that were misunderstood in the FARA registration process and filings.” She also reaffirmed her position in the motion that government prosecutors are continuing to withhold exculpatory information that would benefit Flynn.

A spokesperson with Flynn’s former law firm Covington & Burling, stated in an email to SaraACarter.com that “Under the bar rules, we are limited in our ability to respond publicly even to allegations of this nature, absent the client’s consent or a court order.”

In Powell’s motion, she stated that Covington and Burling was well aware that it had a ‘conflict of interest’ in representing Flynn after November 1, 2017. She stated in the motion it was on that day, when Special Counsel prosecutors had notified Covington that “it recognized Covington’s conflict of interest from the FARA registration.” Moreover, the government had asked Covington lawyers to discuss the discrepancy and conflict with Flynn, Powell stated in the motion.

“Mr. Flynn’s former counsel at Covington made some initial errors or statements that were misunderstood in the FARA registration process and filings, which the SCO amplified, thereby creating an ‘underlying work’ conflict of interest between the firm and its client,” stated Powell in the motion.

“Government counsel specified Mr. Flynn’s liability for ‘false statements’ in the FARA registration, and he told Covington to discuss it with Mr. Flynn,” states the motion.

“This etched the conflict in stone. Covington betrayed Mr. Flynn.”

Powell included in her motion an email from Flynn’s former law firm Covington & Burling between his former attorney’s Steven Anthony and Robert Kelner. The email was regarding the Special Counsel’s then-charges against Paul Manafort, who had been a short term campaign manager for Trump. Manafort and his partner Rick Gates, were then faced with ‘multiple criminal violations, including FARA violations.”

Internal Email From the motion:

In the internal email sent to Kelner, Anthony addresses his concerns after the Manafort order was unsealed.

I just had a flash of a thought that we should consider, among many many factors with regard to Bob Kelley, the possibility that the SCO has decided it does not have, [with regard to] Flynn, the same level of showing of crime fraud exception as it had [with regard to] Manafort. And that the SCO currently feels stymied in pursuing a Flynn-lied-to-his-lawyers theory of a FARA violation. So, we should consider the conceivable risk that a disclosure of the Kelley declaration might break through a wall that the SCO currently considers impenetrable.

In February, 2017, then Department of Justice official David Laufman had called Flynn’s lawyers to push them to file a FARA, the motion states. In fact, it was a day after Flynn was fired as the National Security Advisor for Trump. Laufman made the call to the Covington and Burling office “to pressure them to file the FARA forms immediately,” according to the motion.

 

Laufman’s push for Flynn’s FARA seemed peculiar considering, Flynn’s company ‘Flynn Intel Group’ had filed a Lobbying Registration Act in September, 2016. Former partner to Flynn Bijan Rafiekian, had been advised at the time by then lawyer Robert Kelly that there was no need for the firm to file a FARA because it was not dealing directly with a foreign country or foreign government official, as stated during his trial. In Rafiekian’s trial Kelly testified that he advised the Flynn Intel Group that by law they only needed to file a Lobbying Disclosure Act and suggested they didn’t need to file a FARA when dealing with a foreign company. In this instance it was Innova BV, a firm based in Holland and owned by the Turkish businessman, Ekim Alptekin.

Flynn’s former Partner’s Case Overturned, Powell Cites Case In Motion

In September, 2019, however, in a stunning move Judge Anthony Trenga with the Eastern District of Virginia Rafiekian’s conviction was overturned. Trenga stated in his lengthy acquittal decision that government prosecutors did not make their case and the “jury was not adequately instructed as to the role of Michael Flynn in light of the government’s in-court judicial admission that Flynn was not a member of the alleged conspiracy and the lack of evidence sufficient to establish his participation in any conspiracy…”

An important side note, Laufman continually posts anti-Trump tweets and is frequently on CNN and MSNBC targeting the administration and its policies.

David Laufman@DavidLaufmanLaw

These despicable remarks reflect contempt for democracy and government accountability, and constitute further evidence of the President’s unfitness to lead our great nation. Republican Members of Congress, stand up and fulfill your oaths.https://www.nytimes.com/2019/09/26/us/politics/trump-whistle-blower-spy.html?action=click&module=Spotlight&pgtype=Homepage 

President Trump at Andrews Air Force Base on Thursday.

Trump Attacks Whistle-Blower’s Sources and Alludes to Punishment for Spies

“You know what we used to do in the old days when we were smart with spies and treason, right?” the president asked a room full of American diplomats.

nytimes.com

 

Powell said prosecutors reversed course on their decision to not push for jail time for Flynn in early January because she said, her client “refused to lie for the prosecution” in the Rafiekian case.

END
Lindsay Graham says that if necessary he has the votes to secure a tsunami of witnesses: the Bidens, the Whistleblower/Schiff, Schiff’s staff etc
(zerohedge)

Lindsey Graham Says Has Votes For Witnesses, “There’s A Tsunami Of Evidence” Of Biden’s Inappropriate Ukraine Links

Despite Democrats constant proclamations that Hunter Biden, who was – unarguably – paid millions to serve on the board of a Ukrainian gas company, is irrelevant to the impeachment charges against Trump and has no knowledge of the president’s conduct related to Ukraine, GOP Senator Lindsey Graham vehemently disagrees.

In a brief press conference this evening, Graham went ‘scorched earth’ blasting that:

“…there’s not a scintilla of evidence that the Bidens’ connection to Ukraine was inappropriate, there’s a tsunami of evidence.”

Graham added that while the House managers claimed this was “debunked,” the White House counsel “made a damning indictment” of what Hunter and Joe Biden allowed to happen and predicted that all 53 Republicans would vote to call Joe Biden’s son Hunter Biden as a witness if Democrats get enough votes to subpoena any witnesses.

“The only thing I know for sure, that if we call one witness, there’ll be 53 votes — not 51, not 52, but 53 — to call Hunter Biden because he’s incredibly relevant as to whether or not the president, Trump, had a reason to believe that corruption was afoot in the Ukraine,” said Graham.

Finally the Senator warned that “if we’re gonna open this up to further inquiry, we’re going to go down the road of whether it was legitimate of the president do believe their was corruption and conflicts of interest on the Bidens’ part… and whether there is any credibility to the reports that the DNC met with Ukraine official in 2016.”

Watch the full clip below:

Racy 🇺🇸🇮🇹🇺🇲@RacySicilian

🔥SCORCHED EARTH🔥

Lindsey Graham says that if the Senate chooses to bring in impeachment witnesses, there will be “a lot” of them, including the Bidens, Schiff and the whistleblower whose complaint began impeachment.

GAME ON💪

Embedded video

end
This is big:  Ukrainian Prosecutor Victor Shokin files a federal complaint against Joe Biden
(Gateway Pundit)

BREAKING: Fired Ukrainian Prosecutor Viktor Shokin FILES FEDERAL COMPLAINT Against Joe Biden

Jim Hoft by Jim Hoft January 29, 2020 211 Comments

 

After leaving office in 2017, Vice President Joe Biden Bragged about strong-arming the government of Ukraine to fire its top prosecutor.

Joe Biden made the remarks during a meeting of foreign policy specialists. Biden said he, “Threatened Ukrainian President Petro Poroshenko in March 2016 that the Obama administration would pull $1 billion in U.S. loan guarantees, sending the former Soviet republic toward insolvency, if it didn’t immediately fire Prosecutor General Viktor Shokin.” Biden suggested during his talk that Barack Obama was in on the threat.

In April John Solomon revealed what Biden did not tell his audience. Joe Biden had Shokin fired because he was investigating Joe Biden’s son Hunter.

Joe Biden and Democrats have then gone out on an international smear campaign to destroy Viktor Shokin’s education.

On Tuesday fired Ukrainian prosecutor Viktor Shokin filed an official complaint against Joe Biden for interference in Ukraine’s legal proceedings.

French news Les Crisis reported:

Today we present you this exclusive document: the complaint of former Ukrainian prosecutor Viktor Shokin against Joe Biden for interference in the legal proceedings of Ukraine – which incidentally cites our UkraineGate investigation …

To the interim director of the National Bureau of Investigation

COMPLAINT [against Joe Biden]

On the commission of a criminal offense

(under article 214 of the Criminal Procedure Code of Ukraine)

I have read and understood Article 63 of the Constitution of Ukraine and the liability provided for in Article 383 of the Criminal Code of Ukraine “Slanderous denunciation of an offense”.

Shokin V.M. (signature).

During the period 2014-2016, the Prosecutor General’s Office of Ukraine was conducting a preliminary investigation into a series of serious crimes committed by the former Minister of Ecology of Ukraine Mykola Zlotchevsky and by the managers of the company “Burisma Holding Limited “(Cyprus), the board of directors of which included, among others, Hunter Biden, son of Joseph Biden, then vice-president of the United States of America.

The investigation into the above-mentioned crimes was carried out in strict accordance with Criminal Law and was under my personal control as the Prosecutor General of Ukraine.

Owing to my firm position on the above-mentioned cases regarding their prompt and objective investigation, which should have resulted in the arrest and the indictment of the guilty parties, Joseph Biden developed a firmly hostile attitude towards me which led him to express in private conversations with senior Ukrainian officials, as well as in his public speeches, a categorical request for my immediate dismissal from the post of Attorney General of Ukraine in exchange for the sum of US $ 1 billion in as a financial guarantee from the United States for the benefit of Ukraine.

The facts I have described above are confirmed, among other things, by the official interview of Joseph Biden published in the media (https://www.youtube.com/watch?v=iHoXh42BraI), where he declares that Ukraine will not receive money if I remain in my post as Attorney General.

Throughout the last months of 2015 and the first months of 2016 Joseph Biden, taking advantage of his position, came several times on official visits to Ukraine in order to negotiate with the leaders of the country my eviction and, consequently, the closing of the objective investigation into the offenses committed by persons associated with the company “Burisma Holding Limited” (Cyprus), including the son of the aforementioned US official.

Due to continued pressure from the Vice President of the United States Joseph Biden to oust me from the job by blackmailing the allocation of financial assistance, I, as the man who places the State interests above my personal interests, I agreed to abandon the post of Prosecutor General of Ukraine.

After my resignation caused by illegal pressure, no active investigation into the offenses concerning the company “Burisma Holding Limited” (Cyprus) was carried out and, therefore, the persons implicated in these offenses were not identified, nor arrested or charged.

According to the conclusions of the International Law Association of 18.04.2017, made by the doctor of law, Professor O.O. Merezhko, at the time vice-president of the Parliamentary Assembly of the Council of Europe, the request of the Vice-President of the United States Joseph Biden concerning my ousting from the post of the Attorney General of Ukraine as a condition for the granting of financial (economic) assistance is qualified as pressure, which represents interference in the internal affairs of Ukraine on the part of a foreign power in violation of one of the principles of international law.

Moreover, the facts of pressure on me as Prosecutor General of Ukraine from Joseph Biden in the circumstances described above are confirmed by an independent journalistic investigation under the name “UkraineGate” conducted and published by the French online media “Les-Crises.fr” available at this link https://ukrainegate.info/part-2-not-so-dormant-investigations/

end

Controversy Erupts After Chief Justice Roberts Shuts Down Rand Paul ‘Whistleblower’ Question

Sen. Rand Paul (R-KY) was spitting mad Wednesday night after Chief Justice John Roberts blocked his question concerning the CIA whistleblower at the heart of the impeachment of President Trump.

According to both Politicoand The HillRoberts told Senators that he wouldn’t read Paul’s question, or any other question which would require him to publicly say the whistleblower’s name or otherwise reveal his identity – which has been widely reported as CIA analyst Eric Ciaramella, who worked for the National Security Council under the Obama and Trump administrations – and who consulted with Rep. Adam Schiff’s (D-CA) staff prior to filing the complaint.

Elise Stefanik

@EliseStefanik

Stunning that Adam Schiff lies to millions of Americans when he says he doesn’t know the identity of the whistleblower.

He absolutely knows the identity of the whistleblower b/c he coordinated with the individual before the whistleblower’s complaint! His staff helped write it!

A frustrated Paul was overheard expressing his frustration on the Senate floor during a break in Wednesday’s proceedings – telling a Republican staffer “If I have to fight for recognition, I will.

Roberts signaled to GOP senators on Tuesdaythat he wouldn’t allow the whistleblower’s name to be mentioned during the question-and-answer session that started the next day, the sources. Roberts was allowed to screen senators’ questions before they were submitted for reading on the Senate floor, the sources noted.

Senate Majority Leader Mitch McConnell (R-Ky.) and other top Republicans are also discouraging disclosure of the whistleblower’s identity as well. Paul has submitted at least one question with the name of a person believed to be the whistleblower, although it was rejected. Sen. Mike Lee (R-Utah) composed and asked a questionregarding the whistleblower earlier Wednesday that tiptoed around identifying the source who essentially sparked the House impeachment drive. –Politico

“We’ve got members who, as you have already determined I think, have an interest in questions related to the whistleblower,” said Senate Majority Whip John Thune (R-SD), adding “But I suspect that won’t happen. I don’t think that happens. And I guess I would hope it doesn’t.”

That said, Paul says he’s not giving up – telling reporters “It’s still an ongoing process, it may happen tomorrow.”

Does Ciaramella deserve ‘anonymity’?

Of note, Roberts did not offer any legal argument for hiding the whistleblower’s identity – which leads to an interesting argument  from Constitutional law expert and impeachment witness Johnathan Turley concerning whistleblower anonymity.

Via Jonathan Turley  (emphasis ours)

Federal law does not guarantee anonymity of such whistleblowers in Congress — only protection from retaliation. Conversely, the presiding officer rarely stands in the path of senators seeking clarification or information from the legal teams. Paul could name the whistleblower on the floor without violation federal law. Moreover, the Justice Department offered a compelling analysis that the whistleblower complaint was not in fact covered by the intelligence law (the reason for the delay in reporting the matter to Congress). The Justice Department’s Office of Legal Counsel found that the complaint did not meet the legal definition of “urgent” because it treated the call between Trump and a head of state was if the president were an employee of the intelligence community. The OLC found that the call “does not relate to ‘the funding administration, or operation of an intelligence activity’ under the authority of the Director of National Intelligence . . . As a result, the statute does not require the Director to transmit the complaint to the congressional intelligence committees.” The Council of the Inspectors General on Integrity and EfficiencyCouncil strongly disagree with that reading.

Regardless of the merits of this dispute, Roberts felt that his position allows him to curtail such questions and answers as a matter of general decorum and conduct. It is certainly true that all judges are given some leeway in maintaining basic rules concerning the conduct and comments of participants in such “courts.”

This could lead to a confrontation over the right of senators to seek answers to lawful questions and the authority of the presiding office to maintain basic rules of fairness and decorum. It is not clear what the basis of the Chief Justice’s ruling would be in barring references to the name of the whistleblower if his status as a whistleblower is contested and federal law does not protect his name. Yet, there are many things that are not prohibited by law but still proscribed by courts. This issue however goes to the fact-finding interests of a senator who must cast a vote on impeachment. Unless Majority Leader Mitch McConnell can defuse the situation, this afternoon could force Roberts into a formal decision with considerable importance for this and future trials.

END

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

GOP senators believe they have the votes to block witnesses

It was clear to Senate Republicans on Wednesday after a morning meeting between Senate Majority Leader Mitch McConnell (R-Ky.) and Sen. Lisa Murkowski (R-Alaska) that the question of having additional witnesses is settled, and the Senate will vote Friday to wrap up the impeachment trial of President Trump…  https://thehill.com/homenews/senate/480526-gop-senators-believe-they-have-the-votes-to-block-witnesses

 

Biden Campaign Urges Supporters to Defend Him on Social Media

With less than a week before the Iowa caucuses, the Biden campaign expressed concern on a call to its supporters that Sanders people were “getting ugly” and it had to “step up its game” defending the vice president. The message was confirmed by campaign national press secretary TJ Ducklo…

https://www.bloomberg.com/news/articles/2020-01-28/biden-campaign-urges-supporters-to-defend-him-on-social-media

 

@LindseyGrahamSC: The best way to sum up this whole debacle is to understand that Senator Schumer’s desire for Lev Parnas to attend the Senate trial apparently cannot be accommodated because Mr. Parnas has an electronic ankle bracelet imposed upon him by the court. You can’t make this up.

 

In 2010 Fox Interview, John Bolton Confessed He Would ‘Absolutely’ Lie about National Security Matters   https://thefederalist.com/2020/01/29/in-2010-fox-interview-john-bolton-confessed-he-would-absolutely-lie-about-national-security-matters/#.XjH9_-PcaBY.twitter

 

@realDonaldTrump: GAME OVER! [DJT tweeted a Bolton interview with Bolton stating Trump and Zelensky had two phones calls and the phone calls were “very warm and cordial calls.”

https://twitter.com/realDonaldTrump/status/1222655839573565440

 

Schiff once said Bolton has ‘lack of credibility,’ now wants ex-national security adviser to testify

Bolton has a distinct “lack of credibility” and is prone to “conspiracy theories.”…

https://www.foxnews.com/politics/schiff-bolton-lack-credibility-senate-impeachment-trial

 

@AndrewDesiderio: Chief Justice Roberts told senators that he will not read aloud the alleged Ukraine whistleblower’s name or otherwise publicly relay questions that might out him/her—a move that has effectively blocked @RandPaul from asking a question today.

@seanmdav: Shameful and arbitrary abuse of power by Roberts, who has already done incalculable damage to the Supreme Court’s legitimacy as a non-political institution via his tortured defense of Obamcare’s constitutionality. Is he Chief Justice, or Chief Censor?

 

@paulsperry_: CBC, NBC and ABC broke away from covering the Senate trial live today with more than half of the critically revealing Q&A session left to go. All 3 TV networks bowed out early and returned to regular daytime programming. [Public interest in the trial is abysmal.]

END

Well that is all for today

I will see you Friday night.

 

 

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