SEPT 15//SMALL RAID TODAY IN PREPARATION FOR TOMORROW’S FOMC MEETING: GOLD UP 90 CENTS TO $1957.35//SILVER UP 11 CENTS TO $27.25//GOLD STANDING AT THE COMEX: 13.11 TONNES//CORONAVIRUS UPDATES// CHINA VS USA AND UPDATE ON TIK TOK//BIPARTISAN HOUSE COMMITTEE HAMMER OUT A 1.52 TRILLION SPENDING DEAL: GREAT FOR GOLD AND SILVER//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1957.35  UP $0.90   The quote is London spot price

 

 

 

 

 

Silver:$27.25 UP  0.11   London spot price ( cash market)

 

 

Dave from Denver…

 

your data:

 

 

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Closing access prices:  London spot

i)Gold : $1954.50  LONDON SPOT  4:30 pm

 

ii)SILVER:  $27.16//LONDON SPOT  4:30 pm

CLOSING FUTURES PRICES:  KEY MONTHS

 

 

OCT GOLD:  $1958.00  CLOSE 1.30 PM//   SPREAD SPOT/FUTURE OCT /: $0.65 CONTANGO//$3.35 BELOW NORMAL CONTANGO

 

 

 

DEC. GOLD  $1966.10   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $8.75/ CONTANGO   ( NORMAL CONTANGO)

 

CLOSING SILVER FUTURE MONTH

 

SILVER SEPT COMEX CLOSE;   $27.25…1:30 PM.//SPREAD SPOT/FUTURE SEPT//  :    ( 0 CENT CONTANGO// 0 CENTS ABOVE NORMAL CONTANGO)

SILVER DECEMBER  CLOSE:     $27.44  1:30  PM SPREAD SPOT/FUTURE DEC.       : 19  CENTS PER OZ  CONTANGO ( 11 CENTS ABOVE NORMAL CONTANGO)

 

XXXXXXXXXXXXXXXXXXXXXXXXX

 

COMEX DATA

 

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

receiving today: 0/25

 

issued:  15

 

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,953.100000000 USD
INTENT DATE: 09/14/2020 DELIVERY DATE: 09/16/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
435 H SCOTIA CAPITAL 5
624 C BOFA SECURITIES 9
657 C MORGAN STANLEY 11
657 H MORGAN STANLEY 10
661 C JP MORGAN 15
____________________________________________________________________________________________

TOTAL: 25 25
MONTH TO DATE: 4,191

 

NUMBER OF NOTICES FILED TODAY FOR  SEPT CONTRACT: 25 NOTICE(S) FOR 2500 OZ  (0.0777 tonnes)

 

TOTAL NUMBER OF NOTICES FILED SO FAR:  4191 NOTICES FOR 419100 OZ  (13.035 tonnes) 

 

 

SILVER

 

 

6 NOTICE(S) FILED TODAY FOR 30,000  OZ/

total number of notices filed so far this month: 9338 for 46.690 MILLION oz

 

BITCOIN MORNING QUOTE  $10810  UP 160

 

BITCOIN AFTERNOON QUOTE.: $10,771 UP 100

 

GLD AND SLV INVENTORIES:

WITH GOLD UP $2.75 AND NO PHYSICAL TO BE FOUND ANYWHERE:

WITH ALL REFINERS CLOSED//MEXICO ORDERING ALL MINES SHUT:   WHERE ARE THEY GETTING THE “PHYSICAL?

A SMALL WITHDRAWAL OF .43 TONNES TO PAY FOR FEES (INSURANCE/STORAGE COSTS ETC)

 

GLD: 1,247.57 TONNES OF GOLD//

 

 

WITH SILVER UP $0.11  TODAY: AND WITH NO SILVER AROUND:

A HUGE DEPOSIT OF 2.793 MILLION OZ INTO THE SLV..

 

RESTING SLV INVENTORY TONIGHT:

 

SLV: 558.749  MILLION OZ./

 

 

XXXXXXXXXXXXXXXXXXXXXXXXX

 

Let us have a look at the data for today

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

IN SILVER THE COMEX OI ROSE BY A FAIR 712 CONTRACTS FROM 161,083 UP TO 161,795, AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE  GAIN IN OI OCCURRED WITH OUR  $0.47 RISE IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO ATTEMPTED BUT FAILED BANKER  SILVER SHORT COVERING..  COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL :   ZERO  LONG LIQUIDATION, A STRONG INCREASE IN SILVER OZ  STANDING  AT THE COMEX FOR SEPT.  WE HAD A STRONG NET GAIN IN OUR TWO EXCHANGES OF 2481 CONTRACTS  (SEE CALCULATIONS BELOW).

 

 

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1273, AS WE HAD THE FOLLOWING ISSUANCE:  SEP 0;  DEC:  1273, MARCH  0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1273 CONTRACTS. THE BANKERS ARE NOW BEING BITTEN BY THOSE SERIAL FORWARDS (EFP’S CIRCULATING IN LONDON) ARE  BEING EXERCISED AND COMING BACK TO NEW YORK FOR REDEMPTION OF METAL.  THE COST TO OUR BANKERS IS HIGH BUT THEY HAVE NO CHOICE BUT TO ISSUE THEM!

 

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 26 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 FINAL STANDING IN JAN

1.480    MILLION OZ FINAL STANDING IN FEB

23.005  MILLION OZ FINAL STANDING FOR MAR

4.660  MILLION OZ FINAL STANDING FOR APRIL

45.220 MILLION OZ FINAL STANDING FOR MAY

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470 MILLION OZ FINAL STANDING IN JULY.

6.475 MILLION OZ FINAL STANDING IN AUGUST

52.225 MILLION OZ INITIALLY STANDING IN SEPT

 

MONDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE $0.47) ).. AND, OUR OFFICIAL SECTOR/BANKERS  WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY  SILVER LONGS. THE RAIDS THESE PAST SEVERAL DAYS WERE ORCHESTRATED BY THE BIS WITH MEGA ASSISTANCE FROM OUR CRIMINAL BANKERS. THEIR CHIEF AIM WAS TO REMOVE SPECULATORS FROM THEIR LONG POSITIONS.THEY FAILED AGAIN WITH FRIDAY’S AND TODAY’S TRADING….   WE ALSO HAD  ii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A STRONG GAIN IN SILVER OZ STANDING  FOR SEPTEMBER, 3) STRONG COMEX GAIN AND 4) ZERO LONG LIQUIDATION.  YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

 

 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

SEPT.

 

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

8040 CONTRACTS (FOR 10 TRADING DAY(S) TOTAL 8040 CONTRACTS) OR 40.200 MILLION OZ: (AVERAGE PER DAY: 804 CONTRACTS OR 4.020 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF SEPT: 40.20 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 5.74% 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:          1,419.91 MILLION OZ.

JANUARY 2020 EFP TOTALS SO FAR: 181.61 MILLION OZ

FEB 2020 EFP’S TOTAL :  ……     259.600 MILLION OZ

MARCH EFP’S …..                     452.280 MILLION OZ  //TOTALS//AND A NEW RECORD FOR THE MONTH)

APRIL EFP                               95.355 MILLION OZ.  (EX. FOR PHYSICALS BECOMING A LOT LESS)

MAY EFP FINAL:                     77.27 MILLION OZ

JUNE EFP                              71.15 MILLION OZ.

JULY EFP                               133.95 MILLION OZ/ (EXCHANGE FOR PHYSICALS STARTING TO RISE EXPONENTIALLY AGAIN)

AUGUST EFP                         127.46 MILLION OZ (EXCHANGE FOR PHYSICALS STARTING TO DECREASE AGAIN)

SEPT EFP                                40.20 MILLION OZ (EXCHANGE FOR PHYSICALS DRAMATICALLY FALLING OFF A CLIFF)

 

RESULT: WE HAD A FAIR SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 712, DESPITE OUR STRONG  $0.47 RISE IN SILVER PRICING AT THE COMEX ///MONDAY.…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1273 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

 

 

TODAY WE GAINED A STRONG SIZED 1985 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR  $0.47 RISE IN PRICE)//

 

 

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 1273 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A FAIR SIZED INCREASE OF 712 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR 47 CENT RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $27.14 // MONDAY’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 UNDER 1 BILLION oz i.e. 0.808 BILLION OZ TO BE EXACT or 116% of annual global silver production (ex Russia & ex China).

FOR THE NEW AUGUST  DELIVERY MONTH/ THEY FILED AT THE COMEX: 6 NOTICE(S) FOR 30,000 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//TODAY’S RECORD OF 244,705 WAS SET WITH A PRICE OF: 18.91 (FEB 25/2020)

 

 

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.//FEB 1.480 MILLION OZ//MAR: 23.005 MILLION OZ/APRIL 4.660 MILLION OZ//MAY  45.220 MILLION OZ//JUNE: 2.205 MILLION OZ// JULY 86.470 million oz//AUGUST 6.475 MILLION OZ//SEPT. 52.220 MILLION OZ//
  2. THE  RECORD PRIOR TO TODAY WAS SET IN FEB 25/2018:  244,710 CONTRACTS,  WITH A SILVER PRICE OF $18.90//.
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017 RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

 

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

 

 

GOLD

 

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 7188 CONTRACTS TO 575,432 AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE STRONG SIZED GAIN IN COMEX OI OCCURRED DESPITE OUR  FALL IN PRICE  OF $0.90 /// COMEX GOLD TRADING// MONDAY//WE HAD ATTEMPTED BUT FAILED BANKER SHORT COVERING AS WE HAD  A STRONG GAIN ON OUR TWO EXCHANGES… NOBODY HAVE LEFT THE GOLD ARENA.  WE ALSO HAD A GOOD ADVANCE IN TONNAGE STANDING AT THE GOLD COMEX FOR SEPTEMBER ACCOMPANYING A SMALL EXCHANGE FOR  PHYSICAL ISSUANCE. THIS ALL HAPPENED WITH OUR  FALL IN PRICE OF $0.90. 

 

 

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  127//

 

 

WE GAINED A STRONG SIZED 9214 CONTRACTS  (28.66 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A SMALL SIZED 2026 CONTRACTS:

CONTRACT . OCT: 0 DEC: 1526; FEB: 500  ALL OTHER MONTHS ZERO//TOTAL: 2026.  The NEW COMEX OI for the gold complex rests at 575,432. 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 EXCHANGE 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 STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9,214 CONTRACTS: 7188 CONTRACTS INCREASED AT THE COMEX AND 2026 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 9214 CONTRACTS OR 28.66 TONNES. MONDAY, WE HAD A LOSS OF $0.90 IN GOLD TRADING..….

AND DESPITE THAT LOSS IN  PRICE, WE HAD A STRONG SIZED GAIN IN TOTAL/TWO EXCHANGES GOLD TONNAGE OF 28.66 TONNES!!!!!! THE BANKERS WERE SUCCESSFUL IN THEIR ATTEMPT TO LOWER GOLD’S PRICE (IT FELL $0.90).  WE HAD AN ATTEMPTED BUT FAILED BANKER SHORT COVERING OPERATION . WE ALSO HAD SMALL ISSUANCE IN EXCHANGES FOR PHYSICAL. THE BANKERS COULD NOT  FLEECE ANY OF OUR SPECULATOR LONGS FROM THEIR POSITIONS

 

 

 

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2026) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI  (7184 OI): TOTAL GAIN IN THE TWO EXCHANGES:  9,210 CONTRACTS. WE NO DOUBT HAD 1 ) ATTEMPTED BUT FAILED BANKER SHORT COVERING ,2.)A GOOD ADVANCE IN  STANDING AT THE GOLD COMEX FOR THE FRONT SEPT. MONTH,  3) ZERO LONG LIQUIDATION;4) STRONG COMEX OI GAIN AND 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL  AND  …ALL OF THIS WAS COUPLED WITH OUR LOSS IN GOLD PRICE TRADING//MONDAY//$0.90.

 

 

WE ARE BEGINNING TO WITNESS A LACK OF EXCHANGE FOR GOLD PHYSICALS UNDERWRITTEN DUE TO PREMIUMS STARTING TO REAPPEAR IN THE FUTURE PRICE OF GOLD VS LONDON SPOT. THE COST TO THE BANKERS IS JUST TOO GREAT TO ENGAGE IN THESE VEHICLES ONCE THIS OCCURS.

THE FACT THAT WE ARE CONTINUALLY SEEING A DROP IN COMEX OPEN INTEREST AND VOLUMES COUPLED WITH LESS EXCHANGE FOR PHYSICALS PROBABLY MEANS THAT OUR LONGS ARE ALREADY DEPARTING NEW YORK FOR THE NEW PHYSICAL PLATFORM AT LONDON’S LME.

 

EXCHANGE FOR PHYSICALS//OUTLINE

SPREADING OPERATIONS/NOW SWITCHING TO GOLD  (WE SWITCH OVER TO SILVER ON OCT  1)

 

 

OUR SPREADING OPERATION HAS NOW SWITCHED INTO GOLD…..

SPREADING OPERATION FOR OUR NEWCOMERS:

 

FOR NEWCOMERS, HERE ARE THE DETAILS:

 

SPREADING LIQUIDATION HAS NOW COMMENCED IN GOLD  AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF OCT.

 

 

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

 HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

 

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

 

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 GOLD 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 SEPT. HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF OCT FOR GOLD:

 

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON ACTIVE MONTH OF SEPT. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN GOLD WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (OCT), 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.”

 

 

 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2020 INCLUDING TODAY

SEPT.

 

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF SEPT : 15,803, CONTRACTS OR 15,803, oz OR 49.15 TONNES (10 TRADING DAY(S) AND THUS AVERAGING: 1580 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 10 TRADING DAY(S) IN  TONNES: 42.85 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2019, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 49.15/3550 x 100% TONNES =1.38% OF GLOBAL ANNUAL PRODUCTION

ISSUANCE OF EXCHANGE FOR PHYSICAL GOLD HAS DISSIPATED THIS MONTHTHE COST TO THE BANKERS TO CARRY THESE CONTRACTS IN LONDON IS BECOMING TOO GREAT FOR THEM.

 

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE   3,449.31  TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; : 570.19 TONNES

FEB 2020 TOTAL EFP ISSUANCE :            653.78 TONNES

MARCH TOTAL EFP ISSUANCE                1,098.93  TONNES  (*AND A NEW ALL TIME RECORD ISSUANCE//22 DAYS)

APRIL TOTAL EFP. ISSUANCE:               243.45  TONNES  (EFP ISSUANCE BECOMING A LOT LESS)

MAY TOTAL EFP ISSUANCE:                     248.68 TONNES (EFP ISSUANCE STILL LOW// PREMIUM COST TO THE BANKERS IS HUGE..SO ISSUANCE IS LESS)

JUNE TOTAL EFP ISSUANCE:                     192.06 TONNES

JULY TOTAL EFP ISSUANCE;                       313.09 TONNES ..(EXCHANGE FOR PHYSICALS REVERSE COURSE AND ARE NOW INCREASING!)

AUGUST TOTAL EFP ISSUANCE;                 150.78 TONNES  FINAL (AGAIN: RETREATING IN NUMBERS)

SEPT TOTAL EFP ISSUANCE:                       49.15 TONNES  (AGAIN EXCHANGE FOR PHYSICAL NUMBERS IN FULL RETREAT)

 

 

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

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

 

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A FAIR SIZED 712 CONTRACTS FROM 161,083, UP TO 161,795 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  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.

THE STRONG SIZED GAIN IN OI SILVER COMEX WAS PRIMARILY DUE TO 1)  ATTEMPTED BUT FAILED BANKER SHORT COVERING  , 2) A  STRONG  ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A GOOD GAIN IN OUNCES STANDING FOR SILVER AT THE COMEX FOR SEPT., AND 4) ZERO LONG LIQUIDATION,

 

 

 

 

EFP ISSUANCE 1273 CONTRACTS

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

 SEPT: 0 AND DEC. 1273 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1273 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 712 CONTRACTS TO THE 1273 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A STRONG SIZED GAIN OF 1985 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 9.925 MILLION  OZ, OCCURRED WITH OUR 47 CENT GAIN IN PRICE///

 

 

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL..THE EVIDENCE IS CLEAR: HUGE AMOUNTS OF PHYSICAL STANDING FOR BOTH  SILVER AND GOLD .

(report Harvey)

 

 

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 16.86 POINTS OR 0.51%  //Hang Sang CLOSED UP 92.48 POINTS OR 0.38%   /The Nikkei closed DOWN 104.41 POINTS OR 0.44%//Australia’s all ordinaires CLOSED UP .01%

/Chinese yuan (ONSHORE) closed UP  at 6.7721 /Oil UP TO 37.78 dollars per barrel for WTI and 40.05 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP // LAST AT 6.7721 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.7715 TRADE TALKS STALL//YUAN LEVELS GETTING DANGEROUSLY CLOSE TO 7:1//TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

 

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST  ROSE BY BY A STRONG SIZED 7188 CONTRACTS TO 575,432 MOVING CLOSER TO  OUR  RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND ALL OF THIS STRONG COMEX INCREASE OCCURRED DESPITE OUR LOSS OF $0.90 IN GOLD PRICING /MONDAY’S COMEX TRADING/). WE ALSO HAD A SMALL EFP ISSUANCE (2026 CONTRACTS),.  THUS,  WE HAD  1)  MINOR BANKER SHORT COVERING AS WE HAD A  HUGE GAIN IN THE TWO EXCHANGES OF 9210 CONTRACTS,…….. , PLUS WE HAD 2)  ZERO LONG LIQUIDATION  AND 3)  ANOTHER HUGE  INCREASE IN TONNAGE  STANDING AT THE GOLD COMEX//SEPT. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 9210 CONTRACTS MENTIONED ABOVE.WE HAVE LATELY WITNESSED THE EXCHANGE FOR PHYSICALS ISSUED BEING SMALL….. AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. THE COMEX IS THE SCENE FOR AN ASSAULT ON GOLD AS LONDONERS EXERCISE CIRCULATING EXCHANGE FOR PHYSICALS AND TURN THEM INTO REAL METAL. NO DOUBT THAT THIS IS THE REASON FOR OUR BANKERS TO LIGHTEN UP ON THEIR USE AS OUR LONDON FRIENDS, BY EXERCISING ON THESE COMEX INITIATED VEHICLES, ARE BITING OUR BANKERS BACK AND PUTTING A NOOSE AROUND THEIR NECKS.

 

 

 

(SEE BELOW)

 

 

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT 127

 

 

 

 

 

 

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON  ACTIVE DELIVERY MONTH OF SEPT..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED  TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 2026 EFP CONTRACTS WERE ISSUED:   OCT: 0  DEC 1526; FEB// ’21 500 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2026  CONTRACTS.

YOU WILL FIND THAT WHEN WE HAVE A GOOD PREMIUM IN THE FUTURES/SPOT, THEN THE NUMBER OF EXCHANGE FOR PHYSICALS DECLINE IN NUMBERS.  THE COST IS JUST TOO MUCH FOR THEM TO ISSUE. TODAY THAT PREMIUM WAS SMALL AND THUS A LITTLE MORE THAN USUAL OF EXCHANGE FOR PHYSICALS WERE ISSUED.

 

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 9,214 TOTAL CONTRACTS IN THAT 2026 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A STRONG SIZED 7188 COMEX CONTRACTS.  THE BANKERS ARE NOW LOATHE TO SUPPLY THE SHORT PAPER.  THEY CONTINUE TO ISSUE  SMALLER AMOUNTS OF EXCHANGE FOR PHYSICAL AS THE COST ON CARRYING SERIAL FORWARDS IN LONDON IS TOO GREAT FOR THEM. WITH MONDAY’S TRADING WE HAD MINOR BANKER SHORT COVERING,  AS OUR BANKERS HAVE BEEN CAUGHT TERRIBLY OFFSIDE ON THEIR SHORT POSITIONS..AND THUS THE REASON FOR OUR CONSTANT RAIDS, THESE PAST SEVERAL DAYS .. AGAIN NOBODY LEFT THE GOLD ARENA.   WE HAD A STRONG GAIN IN OI ON OUR TWO EXCHANGES. (SEE BELOW)

 

 

 

 

 

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $0.90).  AND, THEY WERE  UNSUCCESSFUL IN FLEECING ANY LONGS ALONG WITH SOME MINOR BANKER SHORT COVERING. THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED  28.66 TONNES  WITH THE SLIGHT FALL IN  PRICE

 

 

NET GAIN ON THE TWO EXCHANGES :: 9,214, CONTRACTS OR 921,400 OZ OR 28.66 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:  575,432 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 57.54 MILLION OZ/32,150 OZ PER TONNE =  1789 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1789/2200 OR 81.335% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

 

Trading Volumes on the COMEX TODAY: 238,715 contracts// volume  POOR

 

 

 

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  212,933 contracts//  volume: poor  //most of our traders have left for London

 

 

SEPT 15 /2020

SEPT. GOLD CONTRACT MONTH

INITIAL STANDING FOR SEPT GOLD

 

 

 

 

 

Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
162,288.015  oz
Malca
Deposits to the Dealer Inventory in oz NIL oz

 

 

 

Deposits to the Customer Inventory, in oz  

nil

 

No of oz served (contracts) today
25 notice(s)
 2500 OZ
(0.0777 TONNES)
No of oz to be served (notices)
783 contracts
(78,300 oz)
2.43 TONNES
Total monthly oz gold served (contracts) so far this month
4191 notices
419100 OZ
12.035 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 deposit into the dealer

 

 

total deposit: nil oz

 

 

 

 

 

 

 

total dealer withdrawals: nil oz

we had 0 deposit into the customer account

 

 

 

total customer deposit:  nil     oz

 

 

we had 2 gold withdrawals from the customer account:

 

i) Out of Brinks:  160,681.890 oz

ii) Out of HSBC:  1606.125 oz

 

 

 

total withdrawals;  162,288.015    oz

5.0478 tonnes

 

 

 

 

 

We had 0  kilobar transactions  +

 

ADJUSTMENTS: 1 //

i) Out of Malca:  106.484.112 oz was adjusted out of the customer account and into the dealer account.

 

The front month of SEPT registered a total of 50 contracts for a LOSS of 153 contracts.  We had 175 notices filed on Monday, so we gained a strong 22 contracts or an additional 2200 oz will stand for delivery in this non active month of Sept. Remember that we have been adding to our gold deliveries despite the raid these past 6 days.

Oct GAINED A CONSIDERABLE 94  contracts UP to 62,234  ( STRANGELY NOBODY HAS LEFT THE ARENA ON OUR FRONT MONTH OF OCTOBER).  November gained 38 contracts to stand at 115.

The big December contract GAINED 5900 contracts UP to 427,632 contracts..

THE BIG STORY TODAY IS THE CONTINUAL GAIN IN OI FOR OCTOBER. GENERALLY OCTOBER IS A POOR DELIVERY MONTH AS MOST INVESTORS PREFER TO SKIP THIS MONTH AND MOVE STRAIGHT TO DECEMBER.  IT LOOKS LIKE MANY JUST CANNOT WAIT FOR DECEMBER..THEY ARE MAKING THEIR MOVE ON OCTOBER FOR METAL.

 

 

 

 

 

 

We had 25 notices filed today for  2500 oz

 

FOR THE SEPT 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  15 notices were issued from their client or customer account. The total of all issuance by all participants equates to 25 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 SEPT /2020. contract month, we take the total number of notices filed so far for the month (4191) x 100 oz , to which we add the difference between the open interest for the front month of  SEPT (50 CONTRACTS ) minus the number of notices served upon today (25 x 100 oz per contract) equals 421,600 OZ OR 13.113 TONNES) the number of ounces standing in this active month of JUNE

thus the INITIAL standings for gold for the SEPT/2020 contract month:

No of notices filed so far (4191, x 100 oz + 50 OI) for the front month minus the number of notices served upon today (25) x 100 oz which equals 421,600 oz standing OR 13.113 TONNES in this  active delivery month. This is a HUGE amount for gold standing for a SEPT delivery month (a NON active delivery month).

 

We gained 22 contracts or an additional 2,200 oz will try their luck searching for metal on this side of the pond.

 

 

 

 

 

NEW PLEDGED GOLD:  BRINKS

 

308,004.832 oz NOW PLEDGED  SEPT 15.2020/HSBC  9.5802 TONNES

 

42,548.308.00 PLEDGED  APRIL 3/2020: SCOTIA:            1.3234 tonnes

deleted Int. Delaware pledge July 7  (600 tonnes)

261,958.320 oz  (some deleted august 3)         JPM  8.14 TONNES

610,238.285 oz pledged June 12/2020 Brinks/   july 2/july 21               19.017 tonnes

51,084.609 oz Pledged August 21/regular account 1.588 tonnes jpm

total pledged gold:  1,213,834.354 oz                                     37.75 tonnes

 

 

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 469.56 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 13.113 tonnes

CALCULATION OF REGISTERED GOLD THAT CAN BE SETTLED UPON:

total registered or dealer  16,310,504.260 oz or 507.32 tonnes
which  includes the following:
a) pledged gold held at HSBC   which cannot settled upon   1,213,834.354 oz x ( 9.5802 TONNES)//
b) pledged gold held at JPMorgan (SOME  DELETED JUNE 24 2020/SOME JULY 9; SOME JULY 22/July 03/august 3) which cannot be settled upon:  261,958.320 oz (or 8.14 tonnes)
total pledged gold:
b 2 pledged gold JPMorgan august 21/2020;  51,084,609 oz  (1.588 tonnes)
c)  pledged gold at Scotia: 1.3234 tonnes or 42,548.308 oz which cannot be settled  (1.3234 tonnes)
d) pledged gold at Manfra:  DELETED  MAY 26.2020
e) pledged gold at int.Del.    DELETED:   JULY 7.2020
f) pledged gold at Brinks:  DELETED july 2 and july 21
g) pledged gold at Brinks: 610,238.285 oz added which cannot be settled:  18.980 tonnes
total weight of pledged:  1,213,834.354 oz or 37.755 tonnes
thus:
registered gold that can be used to settle upon:  15,096,667.0  (469,56 tonnes)
true registered gold  (total registered – pledged tonnes  15,096.667.0 (469.56 tonnes)
total eligible gold:  20,122,084.376 oz (625.88 tonnes)

total registered, pledged  and eligible (customer) gold  36,432,588.636 oz 1,133.20 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1006,86 tonnes

 

end

 

I have compiled  data with respect to registered (or dealer) gold taken on first day notice for each of the past 24 months

The data begins on first day notice for the May month taken on the last day of July 2018. and it continues to present day.

 

I then took, how many deliveries were recorded by the CME for each and every month.  I also included for reference the price of gold on first day notice.

 

The first graph is a logarithmic  graph and the second graph, linear.

You can see the huge explosion of registered gold at the comex along with deliveries.

 

 

THE DATA AND GRAPHS:

 

 

 

THE GOLD COMEX SEEMS TO BE  UNDER SEVERE ASSAULT FOR PHYSICAL

END

SEPT 15/2020

And now for the wild silver comex results

And now for the wild silver comex results

 

INITIAL STANDINGS

SEPT. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
 15,980.740 oz

 

DELAWARE

 

Deposits to the Dealer Inventory
nil oz

 

Deposits to the Customer Inventory
2,348,421.600 oz
BRINKS
JPMORGAN
No of oz served today (contracts)
6
CONTRACT(S)
(30,000 OZ)
No of oz to be served (notices)
1107 contracts
 5,535,000 oz)
Total monthly oz silver served (contracts)  9338 contracts

46,690,000 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 deposit into the dealer:

total dealer deposits: NIL     oz

i) We had 0 dealer withdrawal

 

total dealer withdrawals: nil oz

 

we had 2 deposits into the customer account (ELIGIBLE ACCOUNT)

i)into JPMorgan: 1,167,403.100 oz  (the JPMorgan continues to add silver to its inventory//8TH DAY IN A ROW)

ii) Into BRINKS:  1,181,018.500

 

 

 

 

 

 

 

 

JPMorgan now has 176/992 million oz of  total silver inventory or 49.08% of all official comex silver. (176.992 million/360.568 million

 

total customer deposits today:  2,348,421.600   oz

we had 1 withdrawals:

 

i) Out of Delaware: 15,980.740 oz

 

 

 

 

total withdrawals;  15,980.740    oz

We had 0 adjustments/

 

 

 

Total dealer(registered) silver: 139.189 million oz

total registered and eligible silver:  360.508 million oz

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

the front month of SEPTEMBER registered an open interest of 1113 contracts thus losing 183 contracts.  We had 225 notices filed on MONDAY so we GAINED 42 contracts or an additional 85,000 oz will stand in this active delivery month of September  as they refused to  morph into London based forwards and thus they also negated a fiat bonus.  Our London boys are ready to exercise these EFP’s and they will turn them into real physical metal as we now have a full frontal attack on both of our two precious metals.

 

Oct saw another GAIN of 4 contracts to stand at 1286.November GAINED 1 contract to stand at 14,

The big December contract month saw its OI GAIN by 309 contracts up to 140,115

 

 

The total number of notices filed today for the SEPT 2020. contract month is represented by 6 contract(s) FOR 30,000, oz

 

To calculate the number of silver ounces that will stand for delivery in SEPT we take the total number of notices filed for the month so far at 9338 x 5,000 oz = 46,690,000 oz to which we add the difference between the open interest for the front month of SEPT(1113) and the number of notices served upon today 6 x (5000 oz) equals the number of ounces standing.

 

Thus the INITIAL standings for silver for the SEPT/2019 contract month: 9338 (notices served so far) x 5000 oz + OI for front month of SEPT  (1113)- number of notices served upon today (6) x 5000 oz of silver standing for the SEPT contract month.equals 52,225,000 oz. ..VERY STRONG FOR AN ACTIVE MONTH.

We GAINED 42 contracts or AN ADDITIONAL 220,000 oz. WILL STAND FOR DELIVERY IN THIS ACTIVE DELIVERY MONTH, AS THEY LOOK FOR METAL ON THE THIS SIDE OF THE POND!

YOU WILL NOTE THAT THE NOTICES FILED SO FAR ARE PRETTY SMALL. IT MEANS THAT OUR BANKER FRIENDS ARE HAVING TROUBLE LOCATING PHYSICAL AND FREE AND UNENCUMBERED SILVER TO PROVIDE TO OUR LONGS.

 

 

TODAY’S ESTIMATED SILVER VOLUME : 60,072 CONTRACTS // volume poor//

 

 

 

 

 

FOR YESTERDAY   57,999.  ,CONFIRMED VOLUME// fair

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 57,999 CONTRACTS EQUATES to 0.289 billion  OZ 41.4% 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

 

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  FALLS TO- 2.15% ((SEPT 15/2020)

2. Sprott gold fund (PHYS): premium to NAV  RISES TO -0.26% to NAV:   (SEPT 15/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.15%

(courtesy Sprott/GATA

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

NAV 20.56 TRADING 20.20///NEGATIVE 2173

END

 

 

 

And now the Gold inventory at the GLD/

SEPT 15//WITH GOLD UP $2.25 TODAY: A SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .43 TONNES FROM THE GLD//INVENTORY RESTS AT 1247.57 TONNES

SEPT 14/WITH GOLD  DOWN 90 CENTS TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.96 TONNES FROM THE GLD////INVENTORY RESTS AT 1248.00 TONNES

SEPT 11/WITH GOLD DOWN $14.80//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1252.96 TONNES

SEPT 10/WITH GOLD UP $8.85 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.92 TONNES INTO THE GLD////INVENTORY RESTS AT 1252.96 TONNES

SEPT 9/WITH GOLD UP $19.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1250.04 TONNES

SEPT 8/WITH GOLD UP $8.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1250.04 TONNES

SEPT 4//WITH GOLD DOWN $3.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1250.04 TONNES

SEPT 3/WITH GOLD DOWN $7.50 ON THIS 2ND DAY OF A 3 DAY RAID:  NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1250.04 TONNES

SEPT 2/WITH GOLD DOWN $34.00 TODAY, WE HAVE 2 SMALL CHANGES IN GOLD INVENTORY AT THE GLD: 2 WITHDRAWALS OF .87 TONNES AND.59 TONNES FROM THE GLD////INVENTORY RESTS AT 1250.04 TONNES

SEPT 1/WITH GOLD UP $7.10 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1251.50 TONNES

AUGUST 31//WITH GOLD UP $5.90 TODAY/WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD..//INVENTORY RESTS AT 1251.50 TONNES/

AUGUST 28/WITH GOLD UP $38.20 TODAY, WE SURPRISINGLY HAD A .59 TONNE WITHDRAWAL//INVENTORY RESTS AT 1251.50 TONNES

AUGUST 27/WITH GOLD DOWN 17.50 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 3.24 TONNES INTO THE GLD//INVENTORY REST AT 1252.09 TONNES

AUGUST 26/WITH GOLD UP $26.70  TODAY/  WE  HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.53 TONNES FROM THE GLD//RESTS AT 1248.85 TONNES

AUGUST 25/WITH GOLD DOWN $14.60 TODAY, WE  HAD NO CHANGES IN GOLD INVENTORY AT THE GLD//RESTS AT 1252.38 TONNES

AUGUST 24//WITH GOLD DOWN $7.20 TODAY: WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1258.38 TONNES

AUGUST 21//WITH GOLD DOWN $.40 TODAY: WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD: /INVENTORY RESTS AT 1252.38 TONNES

AUGUST 20/WITH GOLD DOWN $23.45 TODAY: WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD: .//INVENTORY REST AT  1252.38 TONNES

AUGUST 19//WITH GOLD DOWN $39.65 TODAY: WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1252.38 TONNES

AUGUST 18/WITH GOLD UP $14.60 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY: A DEPOSIT OF 4.09 TONNES//GLD INVENTORY RESTS TONIGHT AT 1252.38 TONNES

AUGUST 17/WITH GOLD UP $46.30  TODAY:  SURPRISINGLY WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A WITHDRAWAL  OF 3.8 TONNES//INVENTORY RESTS AT 1248.29 TONNES

AUGUST 14/ WITH GOLD DOWN $19.45 TODAY: SURPRISINGLY, WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 1.46 TONNES/INVENTORY RESTS AT 1252.63 TONNES.

AUGUST 13/WITH GOLD UP $23.15 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY: SURPRISINGLY A PAPER WITHDRAWAL OF 7.30 TONNES/INVENTORY RESTS AT 1250.63 TONNES

AUGUST 12/ WITH GOLD UP $1.00 TODAY: WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A WITHDRAWAL OF 4.19 TONNES//INVENTORY RESTS AT 1257.93 TONNES

AUGUST 11//WITH GOLD DOWN $92.40 TODAY, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1262.12 TONNES.

AUGUST 10/WITH GOLD UP $11.35  TODAY, WE HAD A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.84 TONNES//INVENTORY RESTS AT 1262.12 TONNES

AUGUST 7/WITH GOLD DOWN $38.30 TODAY, WE HAVE NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1267.96 TONNES

AUGUST 6/WITH GOLD UP $20.45 TODAY, WE HAVE ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A PAPER DEPOSIT OF 10.23 TONNES INTO THE GLD/INVENTORY RESTS AT 1267.96  TONNES//

AUGUST 5/WITH GOLD UP $ 33.75 TODAY, WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/A DEPOSIT OF 9.35 TONNES INTO THE GLD//INVENTORY RESTS AT 1257.73 TONNES

AUGUST 4//WITH GOLD UP $31.75 TODAY, WE HAVE A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 6.48 TONNES/GLD INVENTORY RESTS AT 1248.38 TONNES

AUGUST 3/WITH GOLD UP $2.20 TODAY, WE HAVE NO CHANGES IN THE GOLD INVENTORY AT THE GLD////INVENTORY RESTS AT 1241,96 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Inventory rests tonight at

SEPT 15/ GLD INVENTORY 1247.57 tonnes*

LAST;  901 TRADING DAYS:   +308.07 NET TONNES HAVE BEEN ADDED THE GLD

 

LAST 801 TRADING DAYS://+486.60  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY.

 

 

end

 

 

Now the SLV Inventory/

SEPT 15/WITH SILVER UP 11 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.793 MILLION OZ INTO THE SLV..//INVENTORY RESTS AT 558.749 MILLION OZ..

SEPT 14/WITH SILVER UP 47 CENTS TODAY:  HUGE CHANGES IN SILVER INVENTORY AT THE SLV: 2 WITHDRAWALS A) 1.675 MILLION OZ AND ANOTHER B) 0.931 MILLION OZ/ FROM THE SLV////INVENTORY RESTS AT 555.956 MILLION OZ//

SEPT 11/WITH SILVER DOWN 39 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 558.562 MILLION OZ//

SEPT 10/WITH SILVER UP 16 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.607 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 558.562 MILLION OZ.

SEPT 9/WITH SILVER UP 6 CENTS TODAY: STRANGE: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.63 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 561.169 MILLION OZ

SEPT 8/WITH SILVER UP 27 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 564.799 MILLION OZ

SEPT 4//WITH SILVER DOWN 15  CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 3.631 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 564.799 MILLION OZ//

SEPT 3//WITH SILVER DOWN 50 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.258 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 568.430 MILLION OZ/./

SEPT 2.WITH SILVER DOWN $1.04 TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.365 MILLION OZ FROM THE SLV///INVENTORY REST AT 571.688 MILLION OZ.

SEPT 1//WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 31/WITH SILVER UP 80 CENTS TODAY: A HUGE CHANGE IN THE SLV//A DEPOSIT OF 2.982 MILLION OZ ENTERS THE SLV/INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 28/WITH SILVER UP 48 CENTS TODAY: A MASSIVE PAPER DEPOSIT OF 4.652 MILLION OZ ENTERS THE SLV//INVENTORY RESTS AT 571.071 MILLION OZ

AUGUST 27/WITH SILVER DOWN 28 CENTS  TODAY// NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 566.419 MILLION OZ

AUGUST 26//WITH SILVER UP $1.04 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.65 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 566.419 MILLION OZ..

AUGUST 25/WITH SILVER DOWN 21 CENTS: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.607 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 571.074 MILLION OZ//

AUGUST 24//WITH SILVER DOWN 18 CENTS TODAY: WE HAD A NO CHANGES//INVENTORY RESTS AT 573.843  MILLION OZ//

AUGUST 21//WITH SILVER DOWN 30 CENTS TODAY: WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF.838 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 573.843 MILLION OZ..

AUGUST 20/WITH SILVER DOWN $.26 TODAY: WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF 3.724 MILLION OZ FROM THE SLV..//INVENTORY REST AT 572.843 MILLION  OZ

AUGUST 18/WITH SILVER UP $.44 TODAY: WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 2.514 MILLION OZ//THE SLV INVENTORY RESTS TONIGHT AT 576.567 MILLION OZ//

AUGUST 17/WITH SILVER  UP $1.27 TODAY: WE HAD NO CHANGES IN SILVER INVENTORY: //INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 14/WITH SILVER DOWN  $1.31 TODAY, WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 6.984 MILLION OZ// //INVENTORY RESTS AT 574.053 MILLION OZ//

AUGUST 13//WITH SILVER UP $1.76  TODAY: WE HAVE TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV//A PAPER DEPOSIT OF 2.421  MILLION OZ INTO THE SLV AT 2 PM AND ANOTHER DEPOSIT OF 6.984 MILLION OZ AT 5 20 PM/INVENTORY RESTS AT 581.037 MILLION OZ//

AUGUST 12/WITH SILVER DOWN 40 CENTS TODAY: WE HAVE ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF XX MILLION OZ//INVENTORY RESTS AT XX MILLION OZ/

AUGUST 11/WITH SILVER DOWN $3.25 CENTS, WE HAVE ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 2.41 MILLION OZ//INVENTORY RESTS AT 571.632 MILLION OZ//

AUGUST 10/WITH SILVER UP 1.89 TODAY, WE HAVE ANOTHER HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF 3.538 MILLION OZ/INVENTORY RESTS AT 569.491  MILLION OZ//

AUGUST 7/WITH SILVER DOWN 69 CENTS TODAY: WE HAVE ANOTHER HUGE CHANGE IN SILVER INVENTORY: A DEPOSIT OF 0.465 MILLION OZ/INVENTORY RESTS AT 573.029 MILLION OZ.

AUGUST 6/WITH SILVER UP $1.52 TODAY, WE HAVE NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 572.564 MILLION OZ///

AUGUST 5/WITH SILVER UP $1.03 TODAY, WE HAVE A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A MONSTROUS DEPOSIT OF 5.403 MILLION OZ//INVENTORY RESTS AT 572.564 MILLION OZ//

AUGUST 4/WITH SILVER UP $1.45 TODAY, WE HAVE NO CHANGES IN SILVER INVENTORY: //INVENTORY RESTS AT 367.161 MILLION OZ//

AUGUST 3/WITH SILVER UP 23 CENTS TODAY: WE HAVE A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//SURPRISINGLY ANOTHER WITHDRAWAL OF 0.931 MILLION OZ//INVENTORY RESTS AT 367.161 MILLION OZ//

 

SEPT 15.2020:

SLV INVENTORY RESTS TONIGHT AT

558.749 MILLION OZ

 

 

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

 

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

Tucker Carlson joins the New Orleans gold conference

(GATA)

TV commentator Tucker Carlson joins New Orleans conference speaker lineup

 Section: 

9:50p ET Monday, September 14, 2020

Dear Friend of GATA and Gold:

As you may recall, this year’s New Orleans Investment Conference, to be held Wednesday to Saturday, October 14 to 17, will be a “virtual one,” conducted entirely on the internet, so we’ll miss the excitement of the great city.

But the conference’s speakers will remain top-notch. In addition to GATA Chairman Bill Murphy and your secretary/treasurer, conference CEO Brien Lundin announced today that Fox News commentator Tucker Carlson — probably the top TV commentator in the country right now — will make a solo presentation as well as participate in a panel discussion.

Brien’s announcement about Carlson’s appearance and other plans for the conference is below. Please consider joining GATA there.

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

* * *

Tucker Carlson Joins ‘The World’s Greatest Investment Event’

By Brien Lundin, CEO
New Orleans Investment Conference
Monday, September 14, 2020

We’re building the most extraordinary investment event seen anywhere, at any time.

I’m pleased to confirm that we’ve just signed Tucker Carlson to provide his inimitable pre-election analysis to New Orleans Conference attend

Carlson has agreed not only to provide his typically insightful and entertaining commentary in a solo presentation, but also to join panelists Stephen Moore and Doug Casey on our political panel to deliver their views just days before the presidential election.

 

Every serious investor needs to participate in New Orleans 2020.

This year’s New Orleans Investment Conference has been radically transformed into much more than “the world’s greatest investment event.” It’s now “the world’s greatest investment club.”

And instead of groaning about the disadvantages of a virtual format, we’re using it to our advantage by reaching out far and wide to bring you a steady parade of extraordinary investment intelligence for months on end, from top experts, wherever they may be.

By going virtual with this year’s conference, we’re able not only to link you up with experts from around the world — many of whom would have great difficulty attending in person — but we also can continue to give you extraordinary events and intelligence for well before the conference and long afterward.

And we’re doing just that. Last week the conference’s first private Zoom call with Rick Rule and Brent Cook was just the start of our parade of value. There’s much more to come.

But let’s not forget the big event itself — when today’s top investors and experts will gather online from Wednesday, October 14, to Saturday, October 17.

In addition to Carlson, this year’s event will feature Robert Kiyosaki, Danielle DiMartino Booth, Jim Rickards, Rick Rule, Peter Schiff, and Grant Williams…

Also, Peter Boockvar, Tavi Costa, Ross Beaty, The Real Estate Guys (Robert Helms and Russ Gray), and Peak Prosperity’s Chris Martenson and Adam Taggart.

And it doesn’t end there. You’ll also hear from:

Mark Skousen, Mary Anne and Pamela Aden, Gary Alexander, Omar Ayales, Brian Bosse, Thom Calandra, Doug Casey, Adrian Day, Gerardo Del Real, Mickey Fulp, Lindsay Hall, Steve Hochberg, Mike Larson, Albert Lu, Bill Murphy, Ned Naylor-Leyland, Chris Powell, Gwen Preston, Dana Samuelson, Ronald-Peter Stoeferle, and Lobo Tiggre.

And Jim Iuorio, Jim Bianco, Jan Nieuwenhuijs, Sean Brodrick, Dave Collum, Dominic Frisby, Lyn Alden, and Rich Checkan.

And believe it or not, there’s even more to come, for I’m still confirming some blockbuster experts, and these announcements will follow soon.

Everyone knows that in a gold bull market, the best place to be is the New Orleans Investment Conference.

Now you don’t have to “be” anywhere, because we’re going to bring this event to you — and for all year long.

So you will get not only the immense value of the New Orleans Conference, but you will get it many times over.

The best news is that registration for this year’s virtual New Orleans Conference is currently just $375.

That’s right. The equivalent of multiple New Orleans Investment Conferences, delivered directly to your computer, for just a few hundred dollars.

Can you imagine your return on that small investment from just one red-hot investment recommendation?

In our Zoom call last week, Rule, Cook, and I not only gave up our most powerful strategies for a metals bull market, we named names — both the best management teams and the best stocks to buy right now.

In fact, we shared six top stock picks, and time’s wasting to buy them before they take off.

The good news is that you can gain immediate access to the recording of this call by registering for New Orleans 2020 now.

And then the flow of investment intelligence will begin for you.

Don’t delay — start enjoying all our market intelligence now. To register, please visit:

https://hopin.to/events/2020-new-orleans-investment-conference

All the best,

Brien Lundin
Editor, Gold Newsletter
CEO, the New Orleans Investment Conference

END

iii) Other physical stories:

 

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

i) Chinese yuan vs USA dollar/CLOSED / LAST AT: 6.7721/ 

//OFFSHORE YUAN:  6.7716   /shanghai bourse CLOSED UP 16.86 POINTS OR 0.51%

HANG SANG CLOSED UP 92.48 POINTS OR 0.38%

 

2. Nikkei closed DOWN 104.41 POINTS OR 0.44%

 

 

 

 

3. Europe stocks OPENED ALL GREEN/

 

 

 

USA dollar index UP TO 92.48/Euro RISES TO 1.1889

3b Japan 10 year bond yield: FALLS TO. +.02/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 105.53/ 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:: 37.78 and Brent: 40.05

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.47%/Italian 10 yr bond yield DOWN to 0.97% /SPAIN 10 YR BOND YIELD UP TO 0.30%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.44: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.09

3k Gold at $1970.50 silver at: 27.57   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 25/100 in roubles/dollar) 75.02

3m oil into the 37 dollar handle for WTI and 40 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 105.53 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 .9056 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0768 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 RISING to 0.47%

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 0.685% early this morning. Thirty year rate at 1.436%

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

6.  TURKISH LIRA:  UP  TO 7.4840..

Futures Power Higher On Upbeat Chinese, German Data

US equity futures and world stocks continued their ramp higher on Tuesday following upbeat German and Chinese data showed the economic recovery was gaining traction, coupled with the usual optimism about coronavirus vaccines while the struggling dollar kept the hot streaks for the euro and some of the biggest emerging market currencies sizzling. The USDJPY slumped to 105.53 while the Chinese yuan rose above 6.80, the highest level since May 2019.

 

E-Mini futures for the S&P 500 put on 0.6%, also reversing early losses. Tesla, Apple and Nvidia all climbed in pre-market trading, while in Europe Hennes & Mauritz AB led a rally among fashion retailers after beating profit estimates. Ocado Group gained after the U.K. grocery delivery company reported a strong surge in sales. Sentiment was also boosted by hopes for a COVID-19 vaccine after British drugmaker AstraZeneca restarted its vaccine trial and the dollar extending recent losses, other currencies were also on the rise.

“It is better risk appetite and the softer dollar environment,” ING’s Chief EMEA FX and interest rate strategist, Petr Krpata, said, though the approaching U.S. election was likely to prevent too much of a run up, he added.

“Market volatility is returning after months of steady advances in risk assets,” BlackRock Investment Institute strategists led by Elga Bartsch said. “Valuations have risen, and we could see greater volatility as a result, especially as the U.S. election closes in.”

Europe’s STOXX 600 was last up 0.5% having shaken off its slow start after a surprise jump too in Germany’s ZEW sentiment survey, which surged to 77.4 (up from 71.5), smashing expectations of 69.8, and the highest since June 2000.

 

“The September ZEW was a strong beat, with expectations reaching a 20-year high and current conditions also exceeding expectations,” Morgan Stanley economist Markus Guetschow said, although he did caution most other data was still gloomier.

Earlier in the session, the MSCI index of Asia-Pacific shares ex-Japan added 0.5%, for a fourth straight day of gains that propelled it up 3% for the year  with health care rising and consumer staples falling, after rising in the last session. Most markets in the region were up, with Thailand’s SET gaining 0.8% and South Korea’s Kospi Index rising 0.6%, while Jakarta Composite dropped 1.2%. The Topix declined 0.6%, with Hamee and Diamond Electric Holdings falling the most. The Shanghai Composite Index rose 0.5%, with Junzheng Energy and Ningbo Shanshan posting the biggest advances.

The offshore yuan climbed to the highest level in a year and stocks in Shanghai advanced on evidence that China is accelerating out of the virus slump. As noted last night, industrial production beat expectations, while retail sales rose for the first time this year in August.

 

The day’s eye-catching move was a 16-month high for the yuan as 5.6% jump in Chinese industrial output in August and the first pick-up in retail sales since the coronavirus outbreak gave it its best day since July. “Strong external demand, a further recovery from the pandemic and pent-up demand from the floods all contributed to the robust activity data in August,” Ting Lu, chief China economist at Nomura, said in a note to clients. “We expect a further, albeit gradual, recovery of the services sector, a steady improvement in retail sales and elevated fixed-asset investment growth.”

With the yuan leading the charge, MSCI’s EM FX index also climbed to a near 7-month high. The Australian dollar led an advance among Group-of-10 currencies against the greenback after the central bank’s latest minutes showed it didn’t plan to ease further anytime soon. The Bloomberg Dollar Spot Index gave up an earlier advance after China posted its first growth in retail sales since Covid-19 hit early in the year. The euro rose a fifth day against the greenback, up 0.2% at $1.1891 after the surprise jump too in Germany’s ZEW sentiment survey, while the pound advanced for a second day on improved global risk appetite. The yen nudged higher as Japanese Chief Cabinet Secretary Yoshihide Suga won a ruling party leadership vote, as expected, paving the way for Japan’s first change of leader in nearly eight years.

“He’s seen as someone who’s particularly stock market friendly. The fact that we’ve got political certainty for the next two years from someone who’s connected to the free market is going to be good news for Japan,” said Jim McCafferty, joint head of Asia Pacific equity research at Nomura.

Investors now turn their attention to the Federal Reserve whose two-day policy meeting begins today to gauge the outlook for markets following a slide of about 2% in global stocks this month. The Fed is expected to maintain its dovish stance after earlier saying it will shift to a more relaxed approach on inflation. Central bank largesse is shoring up sentiment in the face of risks from the pandemic, the U.S. presidential election and the possibility of a no-deal Brexit.

In rates, treasuries were weaker as U.S. trading gets under way, led by long end ahead of $22b 20-year bond reopening at 1pm. U.S. yields lag steeper increase in several European markets, especially supply-driven move in U.K. gilts. Yields were higher by about 2bp at long end, 10-year by less than 1bp at 0.68%; WI 20-year yield is around 1.22% vs 1.185% stop in August new-issue auction. Last week’s 30-year reopening stopped through slightly, arresting a bear-steepening move in Treasuries and easing concern about appetite for record-size auctions; Tuesday’s 20-year reopening is $5b larger than last quarter’s taps, and the projected total issue size for the August 2040 bond is $69b vs $44 billion for the May 2040 according to Bloomberg.

In commodities, Brent crude climbed back to $40 a barrel and gold prices put on 0.4%, extending a sharp rise in the previous session. WTI and Brent futures have been on an upward trajectory in the latter part of the European morning as traders balance the supply and demand implication arising from developments in the Gulf of Mexico alongside a resurgence of the pandemic ahead of the JMMC meeting on Thursday. Most industrial metals were bolstered by the robust Chinese data; gold jumped on the back of the weaker dollar.

Looking at the day ahead, we’ll get the Empire State manufacturing survey for September, as well as industrial production, capacity utilisation and the import price index for August. FedEx is among companies reporting earnings.

Market Snapshot

 

  • S&P 500 futures up 0.4% to 3,395.00
  • STOXX Europe 600 up 0.2% to 369.30
  • MXAP up 0.09% to 173.18
  • MXAPJ up 0.5% to 569.87
  • Nikkei down 0.4% to 23,454.89
  • Topix down 0.6% to 1,640.84
  • Hang Seng Index up 0.4% to 24,732.76
  • Shanghai Composite up 0.5% to 3,295.68
  • Sensex up 0.5% to 38,966.30
  • Australia S&P/ASX 200 down 0.08% to 5,894.83
  • Kospi up 0.7% to 2,443.58
  • Brent Futures up 0.3% to $39.72/bbl
  • Gold spot up 0.3% to $1,963.16
  • U.S. Dollar Index down 0.1% to 92.92
  • German 10Y yield rose 0.9 bps to -0.471%
  • Euro up 0.2% to $1.1884
  • Brent Futures up 0.3% to $39.72/bbl
  • Italian 10Y yield fell 4.1 bps to 0.815%
  • Spanish 10Y yield rose 1.7 bps to 0.3%

Top Overnight News from Bloomberg

  • The Federal Reserve’s new approach to setting interest rates will probably be hard to divine from the economic projections it’s set to publish on Wednesday
  • The head of macro strategies at Record Currency Management is shorting government bonds of Spain, France and Italy — as well as the euro itself — on the expectation that Turkey’s market ructions will soon be felt on the balance sheets of European banks
  • Barclays Plc asked Pritpal Gill, head of foreign exchange trading in Asia Pacific, to leave after about 18 months with the British lender

A quick look at global markets courtesy of NewsSquawk:

Asian equity markets were somewhat mixed as the region only partially sustained the momentum from the firm handover from the US where the tech sector resumed its outperformance and sentiment was underpinned by vaccine and M&A developments. ASX 200 (-0.1%) was indecisive and only briefly benefitted from the announcement to ease regional Victoria coronavirus restrictions, with strength in tech and mining stocks offset by losses in energy and financials, while Nikkei 225 (-0.4%) underperformed as exporters suffered from the ill-effects of a firmer currency and with Sony shares pressured by reports it is to reduce its PS5 sales forecast by 4mln units due to chip supply issues. Hang Seng (+0.4%) and Shanghai Comp. (+0.5%) eventually gained following a CNY 600bln MLF announcement by the PBoC and better than expected Chinese data where Industrial Production and Retail Sales both topped forecasts. In addition, China announced to extend tariff exemptions for 1 year on imports of some US products which were due to expire tomorrow, although the support for stocks was limited as uncertainty regarding TikTok remained given the no-algorithm inclusion aspect of the deal and with the US to block imports of cotton, linen, hair products and computer parts made by specific entities in Xinjiang. Finally, 10yr JGBs were flat following similar rangebound trade in T-notes, while firmer demand at today’s enhanced liquidity auction for long-end JGBs only mildly supported as price action was once again hampered by resistance at the 152.00 level.

Top Asian News

  • Chinese Consumers Join Industrial Recovery From Covid-19
  • China Gives Markets Just Enough Support, Lets Yuan Strengthen
  • Hong Kong to Reopen Pubs, Pools and Theme Parks From Friday
  • Singapore Trader Rhodium Sued by Maybank for $3 Million Payment

Europe saw an uninspiring cash open following a mixed APAC handover, but thereafter upside momentum seeped into the markets (Euro Stoxx 50 +0.6%) – with little by way of fresh catalysts to shift the dials ahead of the FOMC policy decision tomorrow. Nonetheless, performance across bourses remain mixed but tilted to the upside, with the DAX (+0.2%) the laggard in the region whilst IBEX (+1.6%) leads the gains, propped up by solid gains in index heavyweight Inditex amid broader consumer discretionary outperformance, with the sector underpinned by H&M (+13%) after a well-received trading update. Sticking with sectors, material names are supported by the USD-induced gains in copper coupled with strong Chinese data and a slew of broker upgrades for the UK mining sectors; for the likes of Anglo American (+2.4%), Glenore (+2.8%), BHP (+2.5%), Rio Tinto (+2.82%), Fresnillo (+0.6%) and Polymetal (+0.8%). To the downside, Financials are weighed by the European banking sector consolidation, with Spanish banks pressured after Caixabank (+0.9%) is said to be mulling a EUR 4bln bid for Bankia (-0.9%) vs. current market cap EUR 4.2bln, whilst UBS (-1.5%) threatened to move its HQ to Frankfurt if officials were to forbid a merger with Credit Suisse (-2.0%). In terms of other individual movers, Fiat Chrysler (+7.1%) has benefitting from a revision of its planned merger with PSA (-0.9%) which includes dividend cut in order to keep cash inside the merged entity. This has also weighed on the likes of Faurecia (-6.5%) as PSA is the majority shareholder in the group, will in turn delay the planned spinoff of Faurecia until after the mergers’ closing. Finally, Carrefour (-2.5%) shares remain on the backfoot after Credit Agricole corporate and investment bank launched the disposal of around 3.1% of Carrefour share capital.

Top European News

  • Panetta Says ECB Needs to Remain Vigilant on Inflation Outlook
  • Trial Against Carlos Ghosn Begins as Kelly Faces Charges Alone
  • U.K. Says ‘No Magic Solution’ for Struggling Covid Test System
  • William Hill Soars to 22-Month High; Partner Signs ESPN Deal

In FX, in contrast to yesterday, news that COVID-19 restrictions have been eased in the state of Victoria allied to a relatively upbeat economic assessment in the RBA minutes have boosted Aud/Usd and Aud/Nzd from sub-0.7300 and circa 1.0860 respectively, while the ongoing appreciation of the Yuan (CNY and CNH both through key resistance at 6.8000 vs the US Dollar) following stronger than expected Chinese data (ip and retail sales) has also propelled the Aussie a bit further than the Kiwi as Nzd/Usd pivots 0.6700 before Q2 current account data.

  • GBP – Encouraging UK labour market metrics and some LHS interest in the Eur/Gbp cross appear to be propping up the Pound rather than safe enough passage of the IMB through parliament last night, as Cable bounces from the low 1.2800 zone to retest 1.2900 and Sterling takes another look at bids/support protecting 0.9200 vs against the Euro. However, the 200 WMA at 1.2933 still poses a technical hurdle if 1.2900 is breached again and market contacts suggest a breach of 0.9200 may be shallow given ongoing no deal Brexit risk.
  • CHF/EUR – Also firmer vs the Greenback, with the Franc holding near the top of a 0.9090-55 range and undeterred by more deflationary Swiss import and produce prices, while the Euro trades closer to 1.1900 than 1.1850 amidst decent option expiry interest (1 bn between 1.1900-10, 1 bn at 1.1885 and 2.4 bn at 1.1850) and underpinned by ZEW readings beating consensus comfortably.
  • CAD/JPY/USD – The Loonie and Yen are narrowly mixed against the Buck, as Usd/Cad straddles 1.3150 in advance of Canadian manufacturing sales and Usd/Jpy hovers below 106.00 before several US data points and Japanese trade ahead of the Fed. Meanwhile, the DXY is tethered to 93.000 awaiting impetus in the run up to the FOMC or via fresh guidance and SEP forecasts in the newly adopted flexible AIT era.
  • SCANDI/EM – Moderately firmer oil prices and risk sentiment overall appear to have nudged the Norwegian and Swedish Crowns off Monday’s lows instead of data in the form of a wider trade deficit and fractionally softer than anticipated SA unemployment rate respectively. Moreover, improvements in the latest Norges Bank regional survey and the Riksbank rolling out Usd swap agreements until the end of Q1 next year may be keeping Eur/Nok and Eur/Sek capped at 10.7000 and 10.4000. Conversely, Turkey’s Lira is struggling to rebound after slipping briefly and marginally beneath 7.5000 as EU’s Borell warns that the country’s future relationship with the bloc is on the line. Elsewhere, the Rand will be eyeing SA business confidence for more pre-SARB pointers.

In commodities, WTI and Brent front month futures have been on an upward trajectory in the latter part of the European morning as traders balance the supply and demand implication arising from developments in the Gulf of Mexico alongside a resurgence of the pandemic ahead of the JMMC meeting on Thursday. In terms of the breakdown, the supply side sees disruptions from the myriad of hurricanes and tropical storms developing in the Atlantic, with Hurricane Sally the most pertinent as it is poised for landfall in the Gulf later today – with BSEE yesterday estimating that that approximately 21.39% of the current oil production and ~25.28% of the natural gas production in the Gulf of Mexico has been shut-in, with today’s update due at 1900BST. Sticking with supply side, sources yesterday suggested the OPEC+ meeting is unlikely to advocate deeper oil output cuts, with Saudi to reportedly not looking to lift oil prices, in-fitting with recent source reports via the FT. Moving to demand, the IEA cut its 2020 global oil demand growth forecast by 200k BPD, citing resurgence of COVID-19 cases, local lockdown measures, remote working and weak aviation for the downgrade. The agency also expects the recovery in oil demand to decelerate markedly in H2 this year. The report aligned itself with both the OPEC and EIA STEO, with OPEC and IEA also highlighting the renewed weakness in the Indian markets dragging on demand. Nonetheless, WTI resides around USD 38/bbl (vs. low 37.06/bbl) while its Brent counterpart regains a footing above 40.00 (vs. low 39.39/bbl). Elsewhere, spot gold and silver derive support from the softer USD to eke mild gains around USD 1960/oz and above USD 27/oz respectively. In terms of base metals, LME copper is supported and Shanghai copper was underpinned by the strong Chinese industrial production data and the recent gains in the stock markets, whilst Dalian iron ore futures came under pressure from lower Chinese steel margins.

US Event Calendar

  • 8:30am: Empire Manufacturing, est. 6.8, prior 3.7
  • 8:30am: Import Price Index MoM, est. 0.5%, prior 0.7%; YoY, est. -2.1%, prior -3.3%
  • 8:30am: Export Price Index MoM, est. 0.4%, prior 0.8%; Index YoY, est. -3.2%, prior -4.4%
  • 9:15am: Industrial Production MoM, est. 1.0%, prior 3.0%; Capacity Utilization, est. 71.35%, prior 70.6%

DB’s Jim Reid concludes the overnight wrap

 

I’ll be publishing my monthly chart book later today so please keep an eye out for that. We released a single off this new album yesterday and previewed our “Print money not babies” chart which basically reinforces our long standing view that money printing is going to increase for years to come unless in part we can magic up more people in the generations behind us. See the CoTD here and a reminder that if you want it straight to your mailbox daily please email Jim-Reid.ThematicResearch@db.com. Also a reminder that we published our annual long-term study last week. This year’s is entitled “The Age of Disorder” (link here).

It was “Merger Monday” in markets yesterday which must mean its “Takeover Tuesday” today? What will Wednesday welcome? Anyway, this M&A theme helped kick US equity markets off on a strong footing ahead of tomorrow’s Federal Reserve decision, as the S&P (+1.27%) and the NASDAQ (+1.87%) both saw major gains. The NASDAQ particularly benefited from the large M&A deals in Tech and Biotech, the two biggest components of the index. Although tech stocks led the advance, every sector in the S&P and 90% of all stocks in the index moved higher on the day. Meanwhile the VIX volatility index fell -1.0pts to 25.85, a lower mark than when the S&P hit record highs back on 2 Sept.

Oracle (+4.32%) had a good day after press reports (per Bloomberg) said that the company had reached a preliminary agreement in its bid for TikTok’s US operations, while Immunomedics was the top performer in the NASDAQ, seeing a massive +97.99%% advance after Gilead Sciences agreed to acquire the company for $21bn. Softbank remained in the tech headlines after agreeing to sell its chip division Arm Ltd. to Nvidia for $40bn. Nvidia, the seventh biggest company in the NASDAQ, rose +5.82% on the news. As has generally been the case this year however, European equities lagged behind, with the STOXX 600 up just +0.15% in spite of the tech outperformance there as well.

There were M&A headlines in Europe as well in the form of the perennial UBS / Credit Suisse merger story. The story emanated from an Inside Paradeplatz story, a Swiss Finance blog, claiming that the Chairmen of both banks are working on it together and had discussed the idea with the Swiss Finance Minister Maurer. Shares of Credit Suisse (+4.33%) and UBS (+2.47%) rose more than the Euro banking sector (+0.96%) – of which they are not eligible of course – on the reports.

On the coronavirus, there was mixed news on the vaccine front. AstraZeneca have restarted their trials in the U.K. (as we discussed yesterday), after an 8 day delay due to a subject falling ill, though the U.S. trial could remain on hold through midweek pending its independent probe. Separately, Pfizer CEO Bourla saw his weekend comments that it’s “likely” that the U.S. could deploy a vaccine before year-end expanded upon. He added that Pfizer and Germany partner, BioNTech, have a 60% chance of having an idea on the efficacy by the end of October.

Any positive vaccine news will be welcome as restrictions are once again being enacted as caseloads rise. France had over 6000 new cases on Monday, with Marseille and Bordeaux limiting public gatherings for individuals to 10 people or fewer, while the limit for large outdoor gatherings such as sporting events and concerts have been lowered to 1000 from 5000 people. Both regions are outlawing standing outdoor bars and will be shutting down bars and restaurants that are not strictly observing and enforcing distancing guidelines. Weekly cases in France are now up to 58,400 compared to a high of 41,000 back in April. Here in the UK the new guidelines restricting gatherings to no more than 6 people in both indoor and outdoor settings went into place yesterday as weekly cases are now over 21,000 for the first time since mid-May. Meanwhile Israel’s cabinet have voted to enact a second national lockdown starting at the end of this week as the country is currently seeing 25,000 new cases a week, compared to 12,000 weekly cases at the start of September. Cases in the US continue to fall as the major hotspots see cases coming back under control, however the weekly cases (243,800) have still not fallen under the highs of the first wave (217,700). Though as we have noted in the past the second wave saw fewer hospitalisations than the first, see the aforementioned upcoming chartbook for more on this.

Overnight we have seen China’s August economic data with retail sales (at +0.5% yoy vs. unchanged expected) and industrial production (at +5.6% yoy vs. +5.1% yoy expected) both beating expectations and thereby underscoring a rebound in economic activity due to fiscal stimulus and strong exports. Meanwhile the surveyed jobless rate came in line with expectations at 5.6% and YtD fixed asset ex rural were a touch better than expectations at -0.3% yoy. The Hang Seng (+0.57%) and Shanghai Comp (+0.28%) are advancing this morning on the back of these data beats. Other bourses in the region are trading a bit more mixed with the Nikkei (-0.56%) and Asx (-0.17%) both down while the Kospi (+0.64%) is up. In FX, all G-10 currencies are up against the greenback with the euro advancing +0.20% to 1.1890 and the onshore Chinese yuan up +0.35% to 6.7868, the highest level since May 2019. Other EM currencies are also trading up. Futures on the S&P 500 are up +0.17% this morning.

While we’re on Asia, in Japan just after we went to print yesterday the ruling Liberal Democratic Party’s leadership election was won by chief cabinet secretary Yoshihide Suga, in line with expectations. Suga won more than 70% of the available votes, and is now almost certain to replace Shinzo Abe as Prime Minister in a parliamentary vote tomorrow, with the new cabinet also expected to be announced the same day. Meanwhile overnight reports (per the Nikkei newspaper and Nippon TV) are suggesting that incumbent Finance Minister Taro Aso will keep his post in new cabinet. Aso has served as finance minister since the start of the Abe government in late 2012 and keeping him on would reinforce Suga’s message that he intends to keep the main policies of the outgoing Abe administration. Elsewhere, Aso has said overnight that the incoming government should consider calling an early election given plans to hold the postponed summer Olympics next year.

Staying on politics, Brexit got further attention yesterday, as the House of Commons began debating the Internal Market Bill, which passed its second reading vote by 340-263. However, that included 20 Conservative MPs who rebelled/abstained, including former Chancellor of the Exchequer Sajid Javid, who said “It is not clear to me why it is necessary for the UK to break international law”. For those who haven’t been following this as closely as us in the UK, the controversy behind this bill is that elements of it would allow the government to override parts of the Brexit Withdrawal Agreement reached with the EU, and hence break the UK’s international treaty obligations. The EU have given the UK until the end of the month to withdraw the relevant measures, but the UK government have shown no sign of backing down thus far, in spite of the fact that every former UK Prime Minister has now offered at least some criticism of the measures, albeit of varying degrees. Having passed its second reading, the bill now goes into committee stage from today and carries in into next week, during which amendments can be made by MPs. An important one there to look out for will be that from Tory MP Bob Neill, which would add the requirement that the House of Commons approve any measures before the government could decide to override the Northern Ireland Protocol in the Withdrawal Agreement.

On yesterday’s meeting between the EU and China over a trade deal, Xinhua has reported overnight that President Xi Jinping agreed that both sides need to “accelerate” the negotiations for the deal but shrugged off Europe’s “lecturing” over human rights issues and doubled down on the stance that any criticism of China’s policies in Xinjiang and Hong Kong is meddling in China’s internal affairs. Meanwhile, the EC Chief Ursula von der Leyen said of the meeting that “China has to convince us that it is worth having an investment agreement,” and the EU summit chair Michel told reporters that Xi Jinping appeared to be willing to allow visits by diplomats into the far western province of Xinjiang, however, details of this need to be worked out.

Turning back to yesterday and core sovereign bonds fell on both sides of the Atlantic, with gilts seeing the largest move as 10yr yields rose +1.2bps. Otherwise, yields on 10yr Treasuries (+0.7bps) and bunds (+0.1bps) all moved just slightly lower. Safe havens elsewhere advanced, with gold (+0.84%) recording its strongest performance in 2 weeks, and platinum (+2.88%) seeing its best day in a month. Oil lost ground however, as Brent crude (-0.55%) closed at its lowest level in 3 months.

There wasn’t a great deal of data yesterday, though we did get Euro Area industrial production for July, which saw a +4.1% increase (vs. +4.2% expected). That still leaves IP down -7.7% year-on-year however, compared to the -2.2% yoy decline in February, so there’s still some way to go before reaching pre-Covid levels again. Otherwise, the Bank of France’s industry sentiment indicator rose to 106 in August, its highest level since May 2017.

To the day ahead now, and today’s data highlights include the UK labour market statistics, the German ZEW survey for September, and Canadian manufacturing sales for July. Meanwhile from the US, we’ll get the Empire State manufacturing survey for September, as well as industrial production, capacity utilisation and the import price index for August. Otherwise, the ECB’s Panetta will be speaking.

 

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 16.86 POINTS OR 0.51%  //Hang Sang CLOSED UP 92.48 POINTS OR 0.38%   /The Nikkei closed DOWN 104.41 POINTS OR 0.44%//Australia’s all ordinaires CLOSED UP .01%

/Chinese yuan (ONSHORE) closed UP  at 6.7721 /Oil UP TO 37.78 dollars per barrel for WTI and 40.05 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP // LAST AT 6.7721 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.7715 TRADE TALKS STALL//YUAN LEVELS GETTING DANGEROUSLY CLOSE TO 7:1//TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

 

b) REPORT ON JAPAN

 

3 C CHINA

CHINA/UIGHURS/USA
Dept of Homeland Security now blocks products linked to the Uighur labour camps from entering the USA
(zerohedge)

DHS Blocks Products Linked To Uighur Labor Camps & “Modern Slavery” From Entering US

Over a month after widespread allegations that China has been routinely using its Muslim Uighur population as prison laborers for products shipped to the West — specifically after 13 tons of human hair in weave products estimated to be worth over $800,000 was seized as a US port — the Department of Homeland Security announced Monday five new orders blocking the importation of products believed to be the result of forced labor.

Acting Customs and Border Protection (CBP) Commissioner Mark Morgan underscored the new measures send a “clear message” concerning forced labor entering US supply chains.

“Today’s Withhold Release Orders send a clear message to the international community that we will not tolerate the illicit, inhumane, and exploitative practices of forced labor in U.S. supply chains,” Morgan said, according to The Hill.

 

Inside a compound at the Kunming Municipal Compulsory Rehabilitation Center in China, Getty Images/The Telegraph.

The directives are aimed at blocking products from multiple facilities in China’s Xinjiang Uyghur Autonomous Region that are suspected of being either internment or ‘re-education camps’ or as including staff made up of forced labor.

A brief listing of the five orders via the DHS website includes the following:

  1. All products made with labor from the Lop County No. 4 Vocational Skills Education and Training Center in Xinjiang Uyghur Autonomous Region, China.
  2. Hair products made in the Lop County Hair Product Industrial Park in Xinjiang Uyghur Autonomous Region, China.
  3. Apparel produced by Yili Zhuowan Garment Manufacturing Co., Ltd. and Baoding LYSZD Trade and Business Co., Ltd in Xinjiang Uyghur Autonomous Region, China.
  4. Cotton produced and processed by Xinjiang Junggar Cotton and Linen Co., Ltd. in Xinjiang Uyghur Autonomous Region, China.
  5. Computer parts made by Hefei Bitland Information Technology Co., Ltd. in Anhui, China.

Morgan added of these tightening of controls that “The Trump Administration will not stand idly by and allow foreign companies to subject vulnerable workers to forced labor while harming American businesses that respect human rights and the rule of law.”

 

AFP/Getty via NBC: A high-security facility near what is believed to be a re-education camp where mostly Muslim ethnic minorities are detained in China’s northwestern Xinjiang region.

The statement went so far as to call China’s practice “modern slavery” and said DHS would do everything in its power to protect American workers, citizens, and the supply chain.

It comes after over much of the past year international human rights groups have published a mountain of photographic and satellite evidence showing a sprawling network of Uighur Muslim camps being run by the Chinese communist government, which Beijing has consistently downplayed or denied altogether.

4/EUROPEAN AFFAIRS

UK/EU

BOJO wins first vote on the “Intermarket bill” which has the EU furious. There is probably a 50 50 chance of a no deal Brexit and a hard border with Northern Ireland.

(zerohedge)

BoJo Wins First Vote On Bill To Modify Brexit Deal, Infuriating Brussels

Prime Minister Boris Johnson has effectively placed Britain on the path to an “Australia-style” trade arrangement with the EU after his “intermarket bill” – which has been criticized for effectively overriding parts of the UK-EU withdrawal treaty – passed its first important procedural vote in the House of Commons Monday.

Passage has opened the door to a messier exit from the EU for Britain, while also raising the possibility that a “hard” border could return to the island of Ireland separating Northern Ireland from the Republic of Ireland (an EU member state). Many fear that could lead to a revival of sectarian violence in a return to “the troubles”.

Though cable’s reaction to the news was relatively muted, investors are now faced with the likelihood that the EU27 will walk away from negotiations, as they have threatened to do. Brussels has also threatened legal action against London should the bill move forward.

The new bill, which had its first reading on Wednesday, outlines a new “safety net” of rules for trade between England, Scotland, Wales and Northern Ireland to prevent disruption to the internal market inside the UK, even in the event that Britain and the EU do not reach a comprehensive trade agreement by the end of 2020. The bill would ensure there will be no new checks on goods moving from Northern Ireland to the rest of the UK, and gives Parliament the power to “disapply” rules relating to the movement of goods. It also specifically states that provisions in the law will override parts of the withdrawal agreement, where applicable.

The bill will now pass on to its 2nd reading after a vote of 340 vs 263. Following the second reading is the final vote to make the bill into legislation. Though, as ITV’s Paul Brand points out, a large number of abstentions in this vote suggests the bill could face tougher votes in the future.

Once again, Johnson was credited with putting down a “conservative rebellion” , according to a report published a few hours ago by the FT, as more MPs fret over Johnson’s confrontational style, which has infuriated the UK’s former continental partners.

Source: Bloomberg

Importantly, the vote comes just as hedge funds turned the most bullish they’ve been in five months, Bloomberg reports.

A team of Goldman FX analysts said in a note to clients that the market is currently pricing in a 40-45% chance of the “no deal” Brexit outcome. The team says it sees potential long-term upside for any traders able to persevere through some short-term volatility, since “beyond the very short-term we would see meaningfully lower odds of a ‘no deal’ Brexit than the market appears to be implying,
the bank said.

They argued that while a “no deal” scenario would ultimately be bad for Britain’s economy, Johnson has often favored such tough negotiating tactics in the past. In the end, Goldman believes, a trade deal is still the most likely outcome, which could send the pound to 87 pence to the euro.

END

UK

UK unemployment picture worsens in August with payrolls falling as the unemployment rate increased.

(Market Watch)

U.K. employment picture worsens in August as payrolls fall, unemployment rate increases

Sept. 15, 2020 at 2:59 a.m. ET

MarketWatch

The U.K. jobs market took a step backwards in August, with the unemployment rate edging higher and the number of workers falling.

The 73,000 increase in the claimant count — which includes those who are eligible for assistance while still being in a job — was below the 100,000 seen by economists.

The U.K. unemployment rate edged higher to 4.1% from 3.9% in the three months to July, the Office for National Statistics said.

The ONS said the number of employees in the U.K. on payrolls was down around 695,000 compared with March, when the country entered lockdown. In August, payrolls fell by 36,000,

The ONS said 5 million people were temporarily away from paid work in July 2020, with approximately 2.5 million of these being away for three months or more. Of those away for three months or more, at the end of July approximately four-fifths were earning half or more of their salary.

Andrew Sentance, a former Bank of England monetary policy committee member, called the report “grim.”

Pawel Adrjan, an economist at online recruitment site Indeed UK, said the data show the U.K. labor market in a “holding pattern” while the Coronavirus Job Retention Scheme continues through the end of October.

“But trouble is bubbling below the surface with redundancies showing the biggest quarterly spike since 2008 – and more likely to come soon,” he said. With job vacancies down by 38% year-over-year, there won’t be positions for these people to come back to.

-END-

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

Mish is correct:  why bother: just leave

(Mish Shedlock)

As Afghanistan Peace Talks Begin, Mish Asks “Why Bother? Just Leave!”

Authored by Mike Shedlock via MishTalk,

The US is in peace talks with the Taliban. Concerns mount.

Will the Taliban Hold Up Their End of the Deal?

Here is the wrong question: Will the Taliban Hold Up Their End of the Deal?

The four-part agreement between the U.S. and the Taliban committed the U.S. to withdrawing most of its soldiers from Afghanistan, which it is doing. In exchange, the Taliban provided assurances that Afghanistan would no longer be used as a base from which to wage attacks against the U.S. and its allies. It also agreed to engage with the Afghan government.

But the promises made by the Taliban to meet those goals were vague and very difficult to verify.

Based on publicly available information, I find the Taliban has met only two of the seven conditions stipulated in its peace accord with the U.S.: releasing 1,000 Afghan prisoners and entering talks with the Afghan government.

Does It Matter?

Of course the Taliban will not honor the deal.

So what?

They will not honor it if we stay another 20 years and waste another $10 trillion in the process.

Right Questions

  1. Why are we still there?
  2. Why were we there in the first place?
  3. What did we accomplish?

The answer to #3 is nothing and if we stay another 20 years the answer will still be nothing.

Peace With Honor

In 1968, Nixon made this campaign pledge: “I pledge to you that we shall have an honorable end to the war in Vietnam.”

The US bickered over details with North Vietnam until January 23, 1973. US troops finally pulled out on March 29, 1973.

North Vietnam overran Saigon on April 30, 1975.

Paris Peace Accords

Please consider provisions of the Paris Peace Accords ending the Vietnam War.

Here are the two pertinent ones.

  • A cease-fire in place in South Vietnam followed by precise delineations of communist and government zones of control.
  • The establishment of a “National Council of National Reconciliation and Concord” composed of a communist, government, and neutralist side to implement democratic liberties and organize free elections in South Vietnam.

Debate over the Shape of the Table

The peace talks were delayed for months over the shape of the table.

  • One of the largest hurdles to effective negotiation was the fact that North Vietnam and the National Front for the Liberation of South Vietnam (NLF, or Viet Cong) in the South, refused to recognize the government of South Vietnam; with equal persistence, the government in Saigon refused to acknowledge the legitimacy of the NLF.
  • A similar debate concerned the shape of the table to be used at the conference. The North favored a circular table, in which all parties, including NLF representatives, would appear to be “equal”‘ in importance. The South Vietnamese argued that only a rectangular table was acceptable, for only a rectangle could show two distinct sides to the conflict. Eventually a compromise was reached, in which representatives of the northern and southern governments would sit at a circular table, with members representing all other parties sitting at individual square tables around them.

Declare Victory and Get Out

In 1966, in the middle of the Vietnam War, the late Senator George Aiken of Vermont famously recommended that the United States simply “declare victory and get out.” With the benefit of hindsight, that seems like pretty good advice. Today, it is more or less what the Obama administration is trying to do in Afghanistan.

That article was written in 2012. We are still in Afghanistan pretending there is some mission of honor to accomplish and the Taliban will honor the deal.

Just Leave

No, the Taliban will not honor the deal.

I don’t really give a damn because we have no business there in the first place just as we had no business in Vietnam and numerous other places.

end

Putin withdraws his Russian troops from the Belarus border: Lukashenko is on is own.

(zerohedge)

Putin Withdraws Russian Troops From Belarus Border After Uneventful Lukashenko Meeting

We noted that during Monday’s much anticipated meeting between embattled Belarusian President Alexander Lukashenko and Putin in Sochi, the Russian leader appeared unmoved by Lukashenko’s urging that the two countries prepare their armies to “resist” the external threat of NATO forces.

Though Putin announced a $1.5 billion loan to Belarus, he made it clear that the smaller Russian neighbor which was formerly part of the Soviet Union would have to solve its own problems internally and in a “calm manner”.

Underscoring that Kremlin focus appears to be moving away from any level of direct intervention, it has ordered national guard troops and police away from the border.

Russian media showed live images of truckloads of the border security units returning to their regular bases on Tuesday morning.

“An important result of the two presidents’ talks in Sochi became an agreement that Russia removes the reserve of law enforcement bodies and the national guard, which was deployed near the Russia-Belarus border, and withdraws people to their permanent bases,” Putin’s press secretary Dmitry Peskov said according to TASS.

As for the loan it likely serves to given Lukashenko more negotiating leverage in terms of gaining support from other powerful Belarusian officials and civic leaders at a moment mass demonstrations continue to swell in the capital of Minsk.

The Guardian reported on Monday’s somewhat awkward press conference that Lukashenko urged, “A friend is in trouble, and I say that sincerely.”

But the report noted that “Putin at times seemed visibly bored, tapping his hands and feet as Lukashenko embarked on a long monologue.”

So long as there’s not overt evidence of US-NATO and EU meddling in Belarus’ affairs, it seems Russia is content to stay of the sidelines. But the question still remains: ahead of the US November election, will Washington and its intelligence services be willing to go full-blown Ukraine to oust the longtime strongman from office? 

6.Global Issues

 

7. OIL ISSUES

 

8 EMERGING MARKET ISSUES

 

 

 

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

Euro/USA 1.1889 UP .0022 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS//PANDEMIC /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /ALL GREEN

 

 

USA/JAPAN YEN 105.53 DOWN 0.189 (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 1.2913   UP   0.0065  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

 

USA/CAN 1.3150 DOWN .0027 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  TUESDAY morning in Europe, the Euro ROSE BY 22 basis points, trading now ABOVE the important 1.08 level RISING to 1.1219 Last night Shanghai COMPOSITE CLOSED UP 16.86 POINTS OR 0.51% 

 

//Hang Sang CLOSED UP 92.48 POINTS OR 0.38%

/AUSTRALIA CLOSED UP 0,01%// EUROPEAN BOURSES ALL GREEN

 

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN 

 

 

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 92.48 POINTS OR 0.38%

 

 

/SHANGHAI CLOSED UP 16.86 POINTS OR 0.51%

 

Australia BOURSE CLOSED UP .01% 

 

 

Nikkei (Japan) CLOSED DOWN 104.41  POINTS OR 0.44%

 

 

 

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1968.75

silver:$27.51-

Early TUESDAY morning USA 10 year bond yield: 0.685% !!! UP 1 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

 

The 30 yr bond yield 1.435 UP 1  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 92.81 DOWN 24 CENT(S) from  MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  TUESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.30% DOWN 1 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.02%  DOWN 0   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 –.48% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.42% 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 TUESDAY

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

Euro/USA 1.1851  DOWN     .0017 or 17 basis points

USA/Japan: 105.48 DOWN .246 OR YEN UP 25  basis points/

Great Britain/USA 1.2865 UP .0016 POUND UP 16  BASIS POINTS)

Canadian dollar DOWN 10 basis points to 1.3187

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

The USA/Yuan,CNY: AT 6.781800    ON SHORE  (up)..

THE USA/YUAN OFFSHORE:  6.7800  (YUAN DOWN)..

TURKISH LIRA:  7.4918 EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield closed at +02%

 

Your closing 10 yr US bond yield UP 1 IN basis points from MONDAY at 0.684 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.431 UP 2 in basis points on the day

Your closing USA dollar index, 97.10 UP 5  CENT(S) ON THE DAY/1.00 PM/

 

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

London: CLOSED UP 79.29  1.32%

German Dax :  CLOSED UP 24.01 POINTS OR .18%

 

Paris Cac CLOSED UP 16.05 POINTS 0.32%

Spain IBEX CLOSED UP 84.90 POINTS or 1.22%

Italian MIB: CLOSED UP 163.15 POINTS OR 0.82%

 

 

 

 

 

WTI Oil price; 37.95 12:00  PM  EST

Brent Oil: 40.28 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    74.95  THE CROSS LOWER BY 0.32 RUBLES/DOLLAR (RUBLE HIGHER BY 32 BASIS PTS)

 

TODAY THE GERMAN YIELD FALLS  TO –.48 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 :  38.29//

 

 

BRENT :  40.58

USA 10 YR BOND YIELD: … 0.676  down one basis point…

 

 

 

USA 30 YR BOND YIELD: 1.434  up one basis point..

 

 

 

 

 

EURO/USA 1.177 ( UP 49   BASIS POINTS)

USA/JAPANESE YEN:107.27 DOWN .667 (YEN UP 67 BASIS POINTS/..

 

 

USA DOLLAR INDEX: 93.08 UP 3 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.2892 UP 41  POINTS

 

the Turkish lira close: 7.4932

 

 

the Russian rouble 74.99   UP 0.28 Roubles against the uSA dollar.( UP 28 BASIS POINTS)

Canadian dollar:  1.3189 DOWN 13 BASIS pts

 

German 10 yr bond yield at 5 pm: ,-0.48%

 

The Dow closed UP 2.27 POINTS OR 0.01%

 

NASDAQ closed UP  133.67 POINTS OR 1.21%

 


VOLATILITY INDEX:  13.53 CLOSED DOWN .16

LIBOR 3 MONTH DURATION: 0.237%//libor dropping like a stone

 

USA trading today in Graph Form

Kim ‘Krashdashian’ Breaks The Market Despite SPACs, Snowflake, & Soaring Zombies

Buffett barreling into Snowflake’s IPO, yet more SPACs, WTO Ruling against US (in favor of China), a snooze-fest Apple event with no iPhones, a continuing collapse in Exxon, Kim ‘Krashdashian’ ‘freezing’ her Facebook/Instagram account, and the rise of the zombie firm… all add up to one thing…

All of which ended up with Nasdaq dramatically outperforming (note the divergence at the cash open – Nasdaq bid, Small Caps dumped)… Kim K Krashed stocks briefly but he standard buying-panic stomped into markets in the last 10 mins (The Dow and Small Caps barely green)…

The Dow scrambled to end the day +1 point!!! But was unable to get back to 28k…

Quite a swing at the cash open again…

Source: Bloomberg

Stocks and Yuan slipped at around 0945ET when WTO headlines hit (ruling against US on China tariffs)…

Source: Bloomberg

Although that drop is negligible compared to the recent yuan resurgence to its strongest since May 2019…

Source: Bloomberg

Meanwhile, XOM down 11 days in a row (equal to longest streak ever – 01/2020 and 08/2013) pushing it up to a 9.5% dividend yield (and near 900bps spread to 10Y)…

Source: Bloomberg

Facebook was flambéd when Kim Kardashian called on her followers to freeze their accounts…

AAPL was monkeyhammered after a snoozefest product launch…

Banks were battered after JPM comments, erasing yesterday’s gains…

Source: Bloomberg

Another crazy day in quant factor land with a panic-divergence at the cash open (buy momo, sell value) then a reversion again…

Source: Bloomberg

Treasuries were unchanged on the day (longer-end slightly offered) despite the vol in stocks (a second day of extremely tight range in yields)…

Source: Bloomberg

The dollar ended modestly lower after bouncing back during the day session…

Source: Bloomberg

Mixed picture in cryptos today with Ethereum down and Bitcoin gaining…

Source: Bloomberg

Gold ended the day unchanged…

Oil was higher ahead of tonight’s API inventory data with WTI back above $38…

 

Finally, thanks to The Fed’s folly, the number of ‘zombie’ companies in the US has soared back near the 2000 peak…

Probably nothing!

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

ii)Market data/USA

USA Industrial production a big miss: the V shaped recovery evaporates

(zerohedge)

US Industrial Production Big Disappointment In August As “V” Evaporates

The initial surge recovery from April’s collapse in Industrial Production was expected to slow further in August (from +3.0% MoM in July to +1.0% MoM in August) and in fact it slowed even more with a mere 0.4% MoM rise…pushing the YoY loss in IP down to 7.73%…

Source: Bloomberg

US Manufacturing’s rebound also slowed in August (+1/0% vs +1.3% exp) leaving it down 6.9% YoY

Source: Bloomberg

And finally, the Dow Jones INDUSTRIAL average continues to forecast a much faster and more aggressive recovery in INDUSTRIAL production than hard data suggests…

Source: Bloomberg

But since when did reality have anything to do with market valuations.

iii) Important USA Economic Stories

Extremely bullish for gold as the bipartisan committee compromise for pandemic relief: they will spend a larger than expected 1.52 trillion dollars. Most of the money will go directly to citizens and some to states who have been dishing out unemployment benefits by the handful

(zerohedge)

House Moderates Hammer Out $1.52 Trillion Bipartisan Compromise For Pandemic Relief

A bipartisan group of 50 House lawmakers will release a $1.52 trillion pandemic stimulus proposal, in the hopes of breaking a months-long deadlock over the next round of relief, according to Bloomberg.

The Problem Solvers Caucus, which has negotiated for weeks with the knowledge of the White House and party leadership will announce detail their plan in an 11 a.m. news conference. Notably, Treasury Secretary Steven Mnuchin hinted at the discussions last month – noting that the White House could accept a $1.5 trillion deal.

The caucus proposal offers key compromises on the two thorniest issues in the stalled talks between congressional Democrats and the Trump administration. On aid to state and local governments, the group is backing about $500 billion, splitting the difference between the $915 billion sought by Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, and the $150 billion put forward by the White House. –Bloomberg

The group is proposing a $450 per week unemployment insurance extension for eight weeks, which would then convert to a formula to cap payments at 100% of wages or $600 per week, whichever is lower. Democrats have lobbied for $600 per week, while the White House has sought $300 per week – arguing that more money would discourage people from seeking work.

What’s more, a $1,200 direct stimulus payment is included in the new proposal – along with a $500 per child benefit.

The “March to Common Ground” framework, led by Caucus co-chairs Tom Reed, a New York Republican and Josh Gottheimer, a New Jersey Democrat, also contains money for Covid-19 testing, schools and childcare, small business relief. It would also link relief to economic metrics, reducing aid if the pandemic abates or extending it if it worsens. –Bloomberg

The new plan comes as negotiations between House Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck Schumer (D-NY) and White House Chief of Staff Mark Meadows broke down on August 7 – with Democrats insisting on a $2.2 trillion package, and the White House looking to cap it at $1.1 trillion.

end

USA// China/WTO

WTO decides that Trump’s tariffs on China broke international trade rules.  The USA will ignore this

(zerohedge)

WTO Decides Trump’s China Tariffs Broke International Trade Rules

In a long-anticipated ruling, the World Trade Organization has just ruled that President Trump’s tariffs on Chinese imports violate established trade rules, suggesting that the international body, which was established by the West in the 1990s following the trade wars of the 1980s, has joined China and the EU in turning against the US.

Washington has slapped tariffs on more than $550 billion in Chinese exports. The trade war began in earnest during the spring of 2018.

As Bloomberg reports, the ruling – handed down Tuesday by a panel of three trade experts – found that the US violated international trade rules with its use of 1970s trade laws to unilaterally launch what BBG described as a “commercial conflict” – we guess they didn’t want to say ‘trade war’ – with China.

However, though the ruling likely grabbed investors’ attention, the decision is effectively toothless, since the US can lodge an appeal any time during the next 60 days. According to Bloomberg, thanks to changes to the appeals process made by the US, doing so would effectively stymie any further action.

The news prompted a slight pullback in stocks…

…as well as a drop in the trade-sensitive offshore yuan.

In its complaint, China argued the American tariffs violated the WTO’s most-favored treatment provision because they singled out China, and didn’t apply broadly to all international trading partners. Beijing also accused the US of bypassing the WTO’s dispute-resolution mechanisms.

US tariffs against China were authorized under Section 301 of the Trade Act of 1974, which empowers the president to levy tariffs and other import restrictions when “unfair” trade practices negatively impact the US economy. Use of Section 301 isn’t unprecedented – Reagan used it against Japan in the 80s – but it largely fell out of favor in the 1990s, around the time the WTO was created.

As we noted above, it’s just the latest sign that the WTO, and many other international institutions that the US helped create, have continued to side with China against the Trump Administration.

Trump has blamed his predecessors for pushing to admit China to the WTO, then standing by and doing nothing as Beijing stole US technology, illegally subsidized domestic industry and kept tight controls on their economy, and any foreign companies operating therein.

end

The support of BLM by NFL football has caused a steep decline in rating

(zerohedge)

Sunday Night Football Ratings Post “Steep Decline” Compared To Last Year

In an NFL season that seems to be more about social justice and Covid precautions instead of; well, playing football, perhaps it should come as no surprise that ratings for Sunday Night Football tanked on NFL’s Week 1.

Initial ratings from Sunday night’s game featuring “America’s Team” – the Dallas Cowboys, and the newly moved Los Angeles Rams plunged from last year. 

Sunday Night Football ratings plunged, according to Yahoo FinanceThe game posted a 4.7 among the key Adult 18-49 demographic with 14.81 million viewers. Although the numbers may still rise after West Coast numbers are factored in, the article notes it is still a “steep decline” from 2019.

For comparison, last year’s Patriots vs. Steelers Sunday night opener had 22.2 million viewers. This total was generally in-line with the opener the year before, indicating that even with West Coast viewers factored in, this Sunday’s ratings were significantly lower.

The idea that NFL viewership is suffering due to the league’s social justice message isn’t especially farfetched. The Dallas Cowboys are one of the most widely supported teams in the league, across the nation, and their presence often helps draw in viewers. The Los Angeles Rams are also widely considered to be playoff contenders this year.

Which leaves many to wonder: what could the NFL be doing wrong?

end
Massive lines outside a Virginia food bank highlights the true devastation of what the COVID 19 caused to the USA
(zerohedge)

Massive Lines Form Outside Virginia Food Bank As Demand Hits One Million Meals Per Month

The economic recovery has stalled, and in some cases, reversed. The $600 unemployment benefits that Americans received following the virus pandemic that crashed the economy in March-April expired on July 31, which means a fiscal cliff has been underway for 44 days (as of Sept. 14).

Millions of people are still out of work, their emergency savings wiped out, and insurmountable debts are increasing. As former Federal Reserve Chair Janet Yellen warned in August, Congress’ inability to pass another round of stimulus checks could weigh on the economic recovery.

Readers may recall about a quarter of all personal income is derived from the government – so when a lapse in stimulus checks extends for well over one month – that could lead to new consumer stress.

In Richmond, Virginia, about 125 miles south of Washington, D.C., a food bank has been shelling out more than one million meals per month as the metro area battles deep economic scarring sustained by the virus-induced recession.

Kim Hill, the Chesterfield Food Bank CEO, told ABC 8News, “a lot of Chesterfield residents are showing up to get food would be an understatement — they’ve been averaging over a million meals a month.”

“You roll down that window, and you see the tears in that person’s eyes who never thought they would need the help of a food bank,” Hill said. “It breaks your heart.”

She said the volume of people her food bank is feeding is more than triple the levels versus last year. With increased demand, Hill said more volunteers are needed to handle the greater volumes.

“The life at the food bank here, we think it has changed forever,” Hill said. “Hunger should not exist in our country. We are one of the richest countries in the world, we need to be able to take care of our own people.”

She said the “Spanish-speaking population accounts for nearly half of all donations from their distribution sites.”

ABC 8News published a drone video outside the food bank on Friday (Sept. 11), revealing a massive line of cars of hungry people waiting to pick up food.

A ground-based video of the traffic jam of cars went viral over the weekend, recording, so far, nearly 1.8 million views.

We recently noted low-income households had experienced the most financial hardships, which makes sense when Hill said many of the food donations are distributed to the “Spanish-speaking population.”

For some context here, food banks are slated to become the norm for the working poor. The pandemic has exposed the government’s intent to bail out corporate America while providing very little assistance to everyone else. Whatever the assistance the government did provide was a taste of socialism for many. Wealth inequality has been supercharged in 2020, food banks will continue to see elevated demand as the recovery could take a couple of years to return to 2019 activity levels.

END

JPMORGAN

Just days after ordering traders to return to work, JPMorgan has been hit with the COVID 19.

Interesting…

(zerohedge)

JPMorgan Hit By COVID-19 Outbreak Just Days After Ordering Traders To Return

Barely a day after JP Morgan came out strongly in favor of workers returning to the office, after announcing that the bank had recalled traders back to the trading floor, it appears several have already been stricken by a COVID-19 outbreak.

Bloomberg sent some of its Manhattan workers home this week after an employee in equities trading tested positive for the virus, according to an insider source with person with first-person knowledge.

The infection was actually confirmed a couple of days ago, but word is just getting out now.

News of the infection, on the fifth floor of the company’s 383 Madison Ave. building, was communicated to employees on Sept. 13, said the person, who asked not to be identified discussing information that isn’t public.

That was less than a week after more workers began returning to offices after the Labor Day holiday, and just days after the biggest U.S. bank told senior traders they’d be required to return by Sept. 21. The case shows the challenges banks face as they try to bring more staff back to the office after months of remote work.

JPMorgan has been among the boldest banks in calling workers back, and Chief Executive Officer Jamie Dimon spoke earlier Tuesday about his concerns that extended work-from-home could have its own consequences.

One Bloomberg reporter pointed out, this will leave CEO Jamie Dimon with some egg on his face after he personally signed off on the bank’s opposition to work from home.

In an unusual move, JPM shared internal research with a rival firm earlier this week showing that employees lose “creative energy” when working from home.

President Trump is probably not super thrilled with Jamie Dimon right now.

 

end

This is a must read: American Mind emphasizes Michael Aton’s new article : the coming Coup.

This is where we are heading

(American Mind)

Stop The Coup!

Via The American Mind,

Michael Anton’s new article “The Coming Coup?” went viral almost as soon as we posted it a week ago today. This is not simply because figures like Lara LoganMollie HemingwayNewt GingrichDan Bongino, and the editors of the New York Post took note. It spread because concerned citizens began sharing it throughout the nation. We could tell it was especially effective because so many in the mainstream media maintained studious radio silence.

But hyperventilating ruling-class supporters of the Biden/BLM/Antifa coalition did predictably lash out. The epitome of these reactions is an article in New York magazine’s Intelligencer, by political columnist Ed Kilgore, entitled “Trump Backers Make Case for Stealing Election, Before Biden Gets the Chance.”

The title itself reveals the stubborn simplicity of the Democratic Party’s coup narrative. Their elites have worked themselves and their base into a frothing lather of existential fright. In article after article, liberal intellectuals and activists have been talking for months about how Trump could steal the election or refuse to leave the White House even if he loses. But if the Right dares to point out that Democrats are actually changing the rules of the electoral process and actually speaking publicly about refusing to concede even if they lose, well, this only proves that the Right is going to steal the election and refuse to concede if they lose!

In reality, of course, Anton and others are simply trying to shine a light on what Democrats are now openly declaring in public.

Kilgore frames Anton’s essay as part of an effort among conservatives to spread the craaaazy idea that Democrats’ obsessive focus on mail-in voting is part of a panicky effort to throw the election, not a good-faith scheme to protect people from coronavirus. Let’s leave aside the fact that no less an establishment authority than the Atlantic admits the voting booth is as safe as the grocery store. In fact, says Kilgore, echoing the new establishment narrative, so many legitimate Biden votes may come flooding in by mail after the in-person voting is through that the election will turn around all on its own.

Every major media outlet is now full of supposed expert authorities – even Mark Zuckerberg recently got into the act – telling the American people that the rule changes Democrat apparatchiks are pushing throughout the nation are totally normal. But as elections expert Hans Von Spakovsky pointed out in these pages, “what is clear from all of these lawsuits is that the Democrats and these organizations are trying to change the rules governing the administration of the November election” midstream while Republicans are trying to “preserve the status quo.” (If you want to understand what the Democrats are up to, give Spakovsky’s “Democrats Versus the Vote” a close read.)

Kilgore likes to present himself as a reasonable man. But how are voters supposed to respond when the message from the Democrat Party is “our lawsuits to change the way we’ve always voted in the middle of a tumultuous election season are not part of a partisan cheat. Oh, but one more thing: America needs to understand that while it might very well look like Trump won on election night, due to our new rules votes will be counted for weeks afterward and then our candidate will probably win.”

More significantly, Kilgore sidesteps outrageous statements from leftist activists and Democrat Party royalty indicating they do not plan to concede even if Trump wins. There is no elephant in a corner here. There is a donkey in the middle of the room. So what if Kilgore thinks that ackshually Democrats will concede the election if Trump wins? The problem is that this is not what Democrats are saying.

As Anton and even Kilgore observe, Hillary Clinton and company have already put Biden and Harris on notice – along with the rest of us – that the Democrat ticket must refuse to concede, no matter how lopsided the loss. Is this report from the Daily Beast wrong? “Inside the coalition, there is dispute over whether Biden should even concede if he wins the popular vote but loses the Electoral College…. The Transition Integrity Project noted that there would be immense pressure on Biden to fight it out.” You get that? Even if Trump wins the Electoral College and therefore the presidency, like every other President in American history, the Left is preparing to—to what, exactly?

As TIP co-founder Rosa Brooks wrote in the Washington Post, “with the exception of the ‘big Biden win’ scenario, each of our exercises reached the brink of catastrophe, with massive disinformation campaigns, violence in the streets and a constitutional impasse” – almost as if the party of chaos is the one whose powerful ideologues run the media, the mobs, and the deep state. We’ve already seen what “mostly peaceful” unrest looks like. But the Daily Beast article tells us “the larger game plan is to apply pressure through mass mobilization.” Given the long list the article provides, every left-leaning group in the nation is seemingly coordinating for “mass public unrest.”

But that’s not all. There are also those on the Left who would threaten secession from the United State of America rather than live in an America in which President Trump won reelection. Granted, “there were mixed opinions over what to do.”

“It’s the hardest scenario,” the source said.

“It’s 2016. But it’s that plus all Trump has done on voter suppression. So I think there is a question but I think both sides are going to fight this till the very end.” And what, we asked, was the very end? “I don’t know,” the official replied.

The left elite press has sure gotten the message: it’s Trump and his followers who “may” steal the election. Democracy dies in orangeness—even if voters overwhelmingly agree that orange man is, in fact, good.

Ed Kilgore is not worried about any of this. His concern, he says, is that “if conservative opinion leaders convince each other and a big segment of Trump voters that Biden won’t accept a constitutionally legitimate loss, that’s all it may take to rob the 2020 presidential election of legitimacy.” Buddy. Pal. Robbing the presidency of legitimacy is the full-time job of your side since, er, before Trump took office. Do you remember your colleague Jonathan Chait’s deranged essay and its totally not insane conspiracy theory graphic about how the President of the United States was a Russian agent and Putin was his handler?

No matter. Kilgore is deeply concerned that if the Republicans mistakenly believe what the Democrats are saying and doing is real, the Republicans might refuse to concede the election and then “all hell really could break loose.” You mean, like, riots and stuff? Ed, your side is doing that already, and telling us they plan more of it. Lots more.

Still, Kilgore has one good suggestion: “Joe Biden could stop this toxic cycle of conspiracy theories justifying conspiracies by clearly announcing he will accept a clear Trump Electoral College win.” To do so, Ed, he’d have to speak specifically to the people in his own party who are saying they do not want him to do so. These are the “Democrats” you acknowledge in your next sentence—the Democrats for whom accepting the result of a legitimate election “offends” (your word, not ours).

Will Joe Biden and Kamala Harris tell Clinton, Pelosi, and now General Mattis to stop speaking about what sounds an awful lot like orchestrated insurrection? Of course they won’t. They won’t even tell BLM and Antifa to stop burning down American cities.

Rest assured that if the American Right spoke like this, the feds would start investigating. Then again, if the politics was reversed, BLM and Antifa would be considered domestic terror groups.

What is to be done? Republicans need to directly address and denounce the problem, and everyone must press Democratic leaders to do the same.

There is no way out of the coming cataclysm without Republican leaders closing ranks against the coup—and making clear that all Americans who join them will be well-supported in doing so.

Those who find the Podesta Gambit [in which John Podesta, playing Biden, refused to concede his loss in a TIP war game] troubling need to shine the brightest possible spotlight onto it. To the highest degree possible, Joe Biden must be pressed as soon as possible to disavow it, whether in the form of pushing for the appointment of alternative electors, holding the election hostage to drastic constitutional change, or (above all) using threats of secession as a weapon.

Likewise, the actual governors central to Podesta’s hypothetical strategy (in California, Oregon, Washington, Wisconsin, Michigan, and North Carolina) must be challenged to put on record a pledge to reject that path. Kamala Harris, as a Californian, should face the same questions. These are simple questions. Do you reject threats of secession to get your way electorally? Will you pledge not to appoint electors contrary to the vote of the people of your state?

As Busch warns, “it is before votes are cast, not after, that maximum pressure will be on Biden and his co-partisans to behave in ways that do not repel swing voters. Once the votes are in, the party base will carry the most weight, and the pressure they will exert (as Podesta acknowledged in the simulation) will all be in the direction of driving out Trump by any means necessary.”

Today’s incessant scaremongering that a defeated Trump will barricade himself in the White House – the Nation devoted its latest cover story to this phony fever dream – is a smokescreen from party bigs scrambling to plan for just the opposite. Progressive radicals have spent years assembling a nationwide machine for legitimizing their switch-flip to autocratic rule. The full apparatus of that machinery – the media, the mobs, the deep-staters – is being leveraged to intimidate and disorient the people into accepting a Biden coup. Now is the time for Americans to make it known we won’t let our country be treated this way.

Republican leaders who love America more than they fear the ruling class will do the same.

end

The Biden budget:  Multi trillion dollar budget: biggest increase in decades

(Mish Shedlock)

Biden’s Multi-Trillion-Dollar Budget Is The Biggest Increase In Decades

Authored by Mike Shedlock via MishTalk,

Biden unleashed his budget plans. Let’s have a look.

Biden Hones Multi-Trillion-Dollar Budget

Biden rejected progressive spending plans but now Hones Multi-Trillion-Dollar Budget

Joe Biden won the Democratic presidential nomination running as a moderate, rejecting the big-government plans of progressive rivals as unaffordable.

The former vice president has proposed a total of $5.4 trillion in new spending over the next 10 years, according to an analysis published Monday by the Penn Wharton Budget Model, a nonpartisan group at the University of Pennsylvania’s Wharton School. That includes historically high allocations for sectors from education and health to child-care and housing.

Mr. Biden’s proposed budget is more than double that of Hillary Clinton, the 2016 Democratic nominee. It is a fraction of the $30 trillion to $50 trillion spending plans that progressive Sens. Bernie Sanders and Elizabeth Warren laid out during the Democratic primary. But since effectively sealing the nomination in March, Mr. Biden’s plan has grown in response to the pandemic, the lockdowns, and the resulting recession.

Federal Spending as a Share of GDP

Penn Wharton Budget Model Key Points

  1. Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.35 trillion.
  2. Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).
  3. The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.
    In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Tax Plan

  • Implement a Social Security “Donut Hole”,
  • Repeal elements of the Tax Cuts and Jobs Act (TCJA) for high-income filers,
  • Raise the top rate on ordinary income,
  • Eliminate stepped-up basis,
  • Tax capital gains and dividends at ordinary rates,
  • Limit itemized deductions,
  • Raise the corporate tax rate,
  • Impose a minimum tax on corporate book income,
  • Raise the tax rate on foreign profits,
  • Eliminate fossil fuel subsidies,
  • Eliminate real estate loopholes,
  • Impose sanctions on tax havens.

Those provisions are described in detail in PWBM’s analyses of the Biden’s original tax plan and his updated tax plan.

Progressives Happy – For Now

Party progressives, meantime, are satisfied—for now. “Where Biden has moved is an important set of steps forward,” says Washington Democratic Rep. Pramila Jayapal, the co-chair of the Congressional Progressive Caucus.  “Do we want more?” she says. “Absolutely.”

And the Progressives will never be happy until they turn the US into a socialist mecca like Venezuela. 

end
Facebook tumbles are Kim Kardashian tweets about freezing her FB, and instagram accounts. Seems that she will join the “virtue” club
(zerohedge)

Facebook Tumbles After Kim Kardashian Tweets She Is “Freezing” Her FB, Instagram Accounts, Asks 67 Million Followers To Join Her

Facebook stock suddenly tumbled just after 2:52pm following a Kim Kardashian West in which the cult icon of millions of confused, easily impressionable teenagers bashed Facebook, told her 66.7 million twitter followers that she was “freezing” her Instagram and FB account and asked them the join her.

The reason for her ire? She said that she “can’t sit by and stay silent while these platforms continue to allow the spreading of hate, propaganda and misinformation – created by groups to sow division and split America apart – only to take steps after people are killed. Misinformation shared on social media has a serious impact on our elections and undermines our democracy. ”

Why Kim’s brazen backlash against the same social media that made her a star in the first place (together with that porn tape of course)? Because with her show now over, and getting a lot of blowback about trump, this is a perfect chance for Kimmy to join in on the virtue-signaling craze that’s sweeping the nation.

In any case, since Kim’s account is the 7th most followed account on Instagram with 188 million followers, and with 30 million followers on Facebook, it’s no surprise that her tweet sent Facebook stock tumbling…

… which together with the sharp drop in AAPL stock which earlier disappointed investors by not announcing a $100 billion buyback during its boring iWatch, iPod unveil, and suddenly we are looking at a market that is on the verge of going red.

Once more, just in case that is any confusion, here is a photo of this paragon of virtue signaling who is about to crash the market.

iv) Swamp commentaries)

More details as to what is going on in the USA Seattle BLM takes over a grocery store. They are protesting lack of access to grocery stores.  Pretty soon there will be no businesses at all in Seattle.

(Preston/PJMedia.com)

Straight Outta Marxism: Seattle BLM Takes Over Grocery Store To Protest “Lack Of Access To Grocery Stores”

Authored by Bryan Preston via PJMedia.com,

At some point, people will get sick of this.

Black Lives Matter activists occupied a Trader Joe’s in Seattle this week, claiming to be protesting “lack of access to grocery stores” and explaining to patrons “how capitalism exploits the working class.”

That “capitalism” line is straight from Marxism.

BLM founders do admit to being “trained Marxists.” Their training is trickling down.

Yes, Karen*, it has.

Socialism and communism exploit the working class and everyone else under their bootheel. Free speech, free press, and freedom of religion tend to die under socialism and communism. Gulags and concentration camps for punishing wrongthink replace them.

Socialism and communism are forms of slavery, though they have seldom been called that.

If you’re a Uighur sent to a concentration camp in Xinjiang against your will and for having committed no crime by your unchecked rulers in the Chinese Communist Party, and you are forced to make products, what are you?

You’re no longer a Disney fan, that’s for sure.

Back to Trader Joe’s in Seattle:

This comes as leftists conflate Trader Joe’s and gentrification, according to The Atlantic in a 2019 article on the “conflicts between white Portlanders and long-time black residents” over “widening bicycle lanes” and “the construction of a new Trader Joe’s.”

So…leftists block Trader Joe’s from building stores, and then protest the “lack of access” to those stores.

Why doesn’t this compute? Were there guards blocking these protesters from entering the store they protested over “lack of access?” Were there any actual impediments to them entering?

Were the roads blocked? If they were, it was probably by another of these protest groupsBlocking people from doing things is their jam.

Trader Joe’s is a great store. They offer fantastic products at very competitive prices. Their staff are always friendly and helpful. The stores are always clean. The produce tends to be a bit cheaper than other stores in the area and it’s just as fresh. These stores provide jobs, help the tax base, and tend to increase property values around them.

All of which reminds me, I need to go to Trader Joe’s soon.

The protesters are probably affluent too.

The framing of this shot using the background sign as commentary…

genius.

END

 

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

Monday

The Coming Age of Disorder Will Favor Commodities

A return to the stagflation of the 1970s would be bad for stocks and bonds.

Veteran financial historian Jim Reid… suggests we have seen five distinct global economic eras since 1860, and are now entering a sixth, labeled the Age of Disorder:

  1. The first era of globalization (1860-1914)
  2. The Great Wars and the Depression (1914-1945)
  3. Bretton Woods and the return to a gold-based monetary system (1945-1971)
  4. The start of fiat money and the high-inflation era of the 1970s (1971-1980)
  5. The second era of globalization (1980-2020?)
  6. The Age of Disorder (2020?-????)

    The problem, as Reid makes clear, is that for the last two decades, the current order has required ever greater reliance on debt… inequality is reaching politically intolerable levels…the power of capital has been taken too far.   So we can expect democratically elected governments to enact policies that favor labor at the expense of capital. Meanwhile, the fissure between the U.S. and China promises a retreat for globalization. That implies greater power for workers, as they no longer have to compete with cheaper labor overseas, and a return to inflation

https://www.bloomberg.com/opinion/articles/2020-09-11/age-of-disorder-will-favor-commodities-over-stocks-bonds

Trump announces deal between Bahrain, Israel to normalize relations in push for Mideast peace

https://www.foxnews.com/politics/trump-bahrain-israel-mideast-deal-peace

@nytpolitics Feb 11, 2017: Can Jared Kushner, a 36 year old real estate heir with no diplomatic experience, pull off peace in the Middle East? [State Dept. Ivy League-welfare chaps failed for decades!] http://nyti.ms/2l4ZSkW

Ending the Iranian occupation [Arabs realizing Iran, not Israel, is the biggest threat in the region.]

Syria has been virtually destroyed by a now over nine-year civil war in which much of the population has fought the Iran-backed Syrian leadership.  These flashpoints are revealing the fury of Arabs — and Iranians — with the leaders of the Iranian regime…The Middle East is slowly being transformed by the combination of these anti-Iranian regime protests and the potential of peace agreements between Israel and some of its Arab neighbors, which are now tantalizingly within reach…

   The Bahrain announcement only underscores the seismic nature of how Middle East politics are changing as more countries recognize their common interests and the true threat to security in the region.  The Abraham Accord was motivated in part by an Arab and Israeli concern with Iran’s unquenchable thirst for regional hegemony and nuclear weapons…The United Arab Emirates, for instance, is now unafraid to say that Iran, not Israel, is the real regional threat…

https://www.cnn.com/2020/09/11/opinions/ending-the-iranian-occupation-greenblatt/index.html

Dem Rep @TulsiGabbard: @netflix child porn “Cuties” will certainly whet the appetite of pedophiles & help fuel the child sex trafficking trade. 1 in 4 victims of trafficking are children. It happened to my friend’s 13 year old daughter. Netflix, you are now complicit. #CancelNetflix

@realDonaldTrump: In the highly competitive world of high tech, how come nobody has ever challenged Mini Mike Bloomberg and his very average, & supposedly outdated, “stuff” that he sells to so many? Did he use his position as Mayor of New York to create what is now a monopoly? Just askin’?

Trump issues executive order to lower Medicare drug prices for seniors

Paying the same drug prices as other developed countries with cost controls…

https://justthenews.com/politics-policy/health/trump-issues-executive-order-lower-medicare-drug-prices-senio

Data shows that half of 2019 donations to ActBlue came from untraceable ‘unemployed’ donors

A Take Back Action Fund analysis of $400M in donations to liberal causes raises red flags of possible foreign involvement  [What about the 2020 data?  DJT & Barr have to know the countries.  Are they waiting to announce the illegalities in October?]

https://www.foxnews.com/politics/exclusive-data-shows-that-half-of-2019-donations-to-actblue-came-from-untraceable-unemployed-donors

@realDonaldTrump: Fake Liberal Democrat Donors. Money laundering anyone?

Reported Anti-Trump Prosecutor Nora Dannehy Resigns from Durham Probe over Alleged Election Pressure by Barr –   Colleagues said Dannehy is not a supporter of President Donald J. Trump and has been concerned in recent weeks by what she believed was pressure from Barr…

https://www.thegatewaypundit.com/2020/09/reported-anti-trump-prosecutor-nora-dannehy-resigns-durham-probe/

Speculation on Reasons Behind Why Durham’s Chief Deputy Resigned — Requires Inside Knowledge – When Durham began a substantive criminal inquiry into the official actions of FBI and DOJ personnel, he immediately needed to ensure that his criminal investigators and prosecutors were not “polluted” by evidence that the law precluded them from using against the agents or other officials if a criminal case was later brought…

     The first thing a prosecution team must do when initiating this kind of investigation is to insulate the investigators and prosecutors from being exposed to material they should not see because of Garrity.  This is done through the creation of a “filter” team — one or more prosecutors and a few investigators whose job it is to go through everything amassed during the IG’s investigation, and “filter out” any compelled statements that might violate Garrity…

    The “filter team” then has to determine if any specific evidence collected in the IG investigation was produced solely as a result of information learned from a “compelled” statement…Once the “filter” work is done, the “filter team” is disbanded because they cannot remain with the prosecution — they possess information about compelled statements that the prosecution cannot know…

If indictments are imminent, this is generally the point you would expect the “filter team” to depart…

https://www.redstate.com/shipwreckedcrew/2020/09/12/speculation-on-why-durhams-chief-deputy-resigned-today-requires-inside-knowledge/

WaPo: Sen. Bernie Sanders privately expressing concerns about Joe Biden’s campaign – Sanders has urged Biden’s team to intensify its focus on pocketbook issues and its efforts to appeal to liberal voters…

@FranksFiles:[Biden] using a teleprompter [‘Spontaneous’ interview in April] to answer questions. Top left panel in the reflection [shows Joe’s Teleprompter!]   https://twitter.com/FranksFiles/status/1304792042925686784

Still shot of Joe’s Teleprompter reflection: https://twitter.com/SteveGuest/status/1304834370776203267

@love_liberty100: In addition to the teleprompter, the interview was obviously set upBiden just happened to have a huge wall sized framed photos by his side to show off.

@drawandstrike: LOL at those saying they can’t see the teleprompter reflection. Not only are they using a teleprompter, the words are COLOR CODED to try to prevent Biden from reading the staff notes to him out loud, which he’s done several times.

NBC’s @JakeSherman on Saturday: A lid has been called in Wilmington, meaning @JoeBiden is not expected to have any public events today, per @mgroppe [Probably due to the Teleprompter evidence]

About an hour after Team Biden called a ‘lid’ for Joe on Saturday: @JoeBiden: You deserve a President and Vice President who will spend every minute of every day working to make your life better.  I promise that’s exactly what @KamalaHarris and I will do. 10:00 AM · Sep 12, 2020

@realDonaldTrump: Once again, Sleepy Joe told the press they could go home at 9 A.M. Meanwhile, your Favorite President, me, will go to Reno, Nevada tonight, three stops in Las Vegas tomorrow, with California and Arizona on schedule Monday. Don’t worry, we won’t be taking off Tuesday, either!

@ArthurSchwartz: Someone needs to ask @jaketapper if Biden was reading answers from a teleprompter during that ridiculous softball interview with Tapper last week. Not that we can believe a word that Jake says.  I don’t want to hear another damn word from Stelter, Tapper, Rucker et al. about the critical role they play as guardians of our democracy. They need to start asking Biden some legit questions or they need to sit down & shut their mouths.

@TrumpWarRoom: Biden surrogate Tim Ryan can’t explain why Joe Biden held campaign rallies in March if he knew coronavirus was a crisis.    https://twitter.com/TrumpWarRoom/status/1304909317024481281

Why Biden will withdraw from the Debates [He’ll have to declare & defend positions that will upset either Dem leftists or moderates!]

   Although he and Trump are roughly the same age, right now they are worlds apart in terms of their mental and physical abilities. Moreover, Biden’s former, more moderate positions on law and order, patriotism, religious liberties, business, even pro-life issues — are at loggerheads with the progressive stances he’s been forced to adopt in the new Democratic Party.  For instance, he’ll have no choice but to defend the protests, which have become associated in the minds of many Americans with rising violence and chaos in Democratic-run cities. He’ll have to praise BLM and its anti-police rhetoric, which also goes against his grain. His critique of Trump’s response to COVID will also ring hollow, since it was he and other Democrats who downplayed the seriousness of the pandemic early on, and who later instituted the most draconian lockdowns…  https://spectator.org/biden-debates-trump/

Trump campaign reaches 100M voters as team Biden avoids door knocks

The wildly different door-to-door strategies could make all the difference in races up and down the ballot in states like New Hampshire, Pennsylvania and Michigan, which were won by razor-thin margins in 2016…“We saw it work for Obama in 2012 and we saw it work for us in 2016. It’s mind-blowing that Biden isn’t doing it.”…  https://nypost.com/2020/09/11/trump-campaign-reaches-100m-voters-in-campaign-milestone/

Bloomberg @Business: Democratic presidential nominee Joe Biden vowed to pull his ads off the air Friday as a mark of respect for the 9/11 anniversary, but hundreds ran anyway

Joe Biden: Trump ‘Accidentally’ Making Peace between Israel and Arab States

“I think Trump is going to accidentally do something positive here, in terms of this issue of … other Arab states” making peace and establishing normal relations with Israel, Biden told a fundraiser hosted by the far-left J Street organization, as quoted by the Times of Israel…Biden’s main argument was reportedly that Trump had “put Israel in danger,” despite the peace agreements, because he had withdrawn from the Iran nuclear deal, and the Iranian regime was enriching uranium…

https://www.breitbart.com/politics/2020/09/11/joe-biden-trump-accidentally-making-peace-between-israel-and-arab-states/

Popular Wrestler Executed in Iran despite Plea from Trump & Olympic Committee

[Reportedly tortured to death] https://www.zerohedge.com/geopolitical/famous-wrestler-executed-iran-despite-plea-trump-olympic-committee

Black Cops Don’t Matter – Democrats are driving African-American police chiefs out of their jobs.

https://www.wsj.com/articles/black-cops-dont-matter-11599780522

Man charged with arson in connection with Almeda Fire in southern Oregon

https://abcnews.go.com/US/man-charged-arson-connection-almeda-fire-southern-oregon/story

[CA Gov. Newsom had blamed the west coast wild fires on climate change.]

Actor Jim Caviezel: Freedoms Are Not Taken Away by Communists, but Given Away by Our Surrender – “We judge ourselves by how we act regarding today’s moral questions, not by trying to imagine how we would have acted in some earlier era…”

https://www.breitbart.com/radio/2020/09/10/jim-caviezel-freedoms-not-taken-away-communists-given-away/

Defense Court Trial Filings, George Floyd Was Hospitalized for a Drug Overdose in May 2019

https://davidharrisjr.com/eric/defense-court-trial-filings-george-floyd-was-hospitalized-for-a-drug-overdose-in-may-2019/

LA County Sheriffs @LASDHQ: To the [BLM reportedly] protesters blocking the entrance & exit of the HOSPITAL EMERGENCY ROOM yelling “We hope they die” referring to 2 LA Sheriff’s ambushed today in #Compton: DO NOT BLOCK EMERGENCY ENTRIES & EXITS TO THE HOSPITAL. People’s lives are at stake when ambulances can’t get through. [The MSM, pols and celebrities’ demonization of cops is producing horrible results.]

@nedryun: Dear “Mittens” @MittRomney, you marched with BLM. Care to comment on their actions? Or nah, cat got your tongue?

AG Barr decries the mainstream media as ‘a collection of liars’

“They’re a collection of liars and they know exactly what they’re doing,” Barr said.  A perfect example of that were the riots.”… this was orchestrated violence by a hardened group of street fighting radicals and they kept on excluding from their coverage all the video of this and reporting otherwise and they were doing that for partisan reasons, and they were lying to the American people,”… the national mainstream media – has dropped any pretense of professional objectivity and are political actors, highly partisan who try to shape what they’re reporting to achieve a political purpose and support a political narrative that has nothing to do with the truth…

https://justthenews.com/accountability/media/ag-barr-decries-mainstream-media-collection-liars

The State of Nebraska Just Declared War on the Big Ten

The Big Ten finds itself in numerous legal entanglements related to its decision to postpone the Fall football season. Eight Nebraska football players sued the conference, which compelled the Big Ten to reveal its 11-3 vote of university chancellors and presidents…Now, Nebraska’s attorney general Douglas J. Peterson wrote a very ominous letter to Big Ten commissioner Kevin Warren. Peterson stated that the conference does not appear to have the proper registration to operate as a non-profit in Nebraska, asked the Big Ten to either prove that it is registered or explain why it is not, and requested documents of the bylaws and for evidence that the bylaws were followed in postponing the season. The letter also asks for documentation of all of the medical information that the Big Ten relied upon in making its decision…

https://www.outkick.com/the-state-of-nebraska-just-declared-war-on-the-big-ten/

Major FOID card backlog, nation-wide ammo shortage cause headaches for gun store owners, buyers [What does this tell us about polls and the coming election?]

Over 5,000,000 Illinoisans have been processed through federal firearm background checks in 2020…

Illinois gun owners are now facing a nation-wide ammo shortage…

https://www.centralillinoisproud.com/news/local-news/major-foid-card-backlog-nation-wide-ammo-shortage-cause-headaches-for-gun-store-owners-buyers/

END

TUESDAY

‘Now is not the time to worry’ about the fiscal deficit or the Fed’s balance sheet, Mnuchin says

“I think there’s many areas of this where is an agreement between the Democrats and the Republicans, and some of the areas we do have differences on the amounts,” he said. “But I will continue to work on this: I’ve told the speaker I’m available any time to negotiate.”…

https://www.cnbc.com/2020/09/14/steven-mnuchin-now-isnt-the-time-to-worry-about-the-deficit-fed-balance-sheet.html

@tomselliott: Federal judge rules Pennsylvania’s Gov. @TomWolfPA’s crowd-size restrictions violate the 1st Amendment, his quarantine violated the 14th Amendment, and his forced business shutdowns also violated the 14th Amendment   https://pacer-documents.s3.amazonaws.com/148/266888/15717588218.pdf

 

NYC Mayor de Blasio cancels Macy’s Thanksgiving Day Parade – The event will be held virtually

https://justthenews.com/government/local/nyc-mayor-de-blasio-cancels-macys-thanksgiving-day-parade

Lancaster protesters throw bricks, break glass at police station after shooting of knife-wielding man

https://www.foxnews.com/us/lancaster-protesters-bricks-glass-police-shooting

Sen. Ron Johnson: “Stay tuned. In about a week we’re going to learn a whole lot more of Vice President Biden’s unfitness for office.” [Ukraine related] – Milwaukee Journal Sentinel

https://www.jsonline.com/story/news/politics/elections/2020/09/14/wisconsin-ron-johnson-says-donald-trump-should-win-nobel-peace-prize/5791780002/

State Department reported Burisma paid bribe while Hunter Biden served on board, memos show

State, DOJ officials reported to FBI concerns Ukraine gas firm made bribe to local prosecutors…

https://justthenews.com/accountability/russia-and-ukraine-scandals/monamholdstate-dept-feared-burisma-paid-bribe-while

 

Biden pushes gun control less than 24 hours after attempted assassination on deputies

Trump has used the ambush to portray Biden as weak on crime

https://www.foxnews.com/politics/biden-pushes-gun-control-less-than-24-hours-after-attempted-assassination-on-deputies

 

WSJ Editorial Board: ‘We Hope They Die’ – Protesters cheer a shooting ambush of sheriff’s deputies in L.A…Democrats may fear the wrath of Black Lives Matter, but the backlash elsewhere in America will be far greater if pleasure at cop killing becomes common on the left…

https://www.wsj.com/articles/we-hope-they-die-11600031160

 

Trump campaign far outpacing Biden in money given by small donors, Biden leads among big donors – Trump raised $229.5 million among small donors compared to Biden’s $139 million, according to latest Center for Responsive Politics data…

https://justthenews.com/politics-policy/elections/trump-campaign-far-outpacing-biden-money-given-small-donors-biden-leads

A bug in Joe Biden’s campaign app gave anyone access to millions of voter files

https://techcrunch.com/2020/09/14/biden-app-voter-files/

Joe Biden Avoids Vote-by-Mail, Casts Ballot in Person

https://www.breitbart.com/politics/2020/09/14/joe-biden-avoids-vote-by-mail-casts-ballot-in-person/

@TrumpWarRoom: Joe Biden: “I’m going to be in… where am I tomorrow?”  His handlers quickly assure him he’s going to Florida.  https://twitter.com/TrumpWarRoom/status/1305508319956795393

Yesterday in Delaware, Joe spoke on climate change amid a pastoral setting.  Bugs attacked him.

https://twitter.com/SteveGuest/status/1305564600813998080 [Pic of audience & Teleprompter at next link]

https://twitter.com/DC_Draino/status/1305671041994424322

@tomselliott: @JoeBiden: If Trump wins again, “how many suburbs will be burned in wildfires? How many suburban neighborhoods will have been flooded outHow many suburbs will have been blown away in superstorms?” [You can’t make this up!]  https://twitter.com/tomselliott/status/1305563705267097603

@SteveGuest: Sleepy Joe Biden can barely make it through a scripted speech

https://twitter.com/SteveGuest/status/1305567133074685954

There were other Biden moments in his speech; but why beat…

@SteveGuest: Joe Biden again hurries away from reporters’ questions after his speech…

https://twitter.com/SteveGuest/status/1305569112266018817

@wdunlap: California’s Governor Newson blames wildfires on ‘Climate Change’ Why does Climate Change virtually end at the Canadian border? Decades of California’s & other Liberal State’s environmental mismanagement have created a tinderbox of unharvested timber dead trees & thick underbrush [Map at link]  https://twitter.com/wdunlap/status/1305588260912078849

@AndrewPollackFL: San Francisco will now allow salons to reopen. Just after Nancy Pelosi got caught.

This proves many shutdowns were straight-up political!

@MrAndyNgo: Within hours after being released for allegedly starting a brush fire in Portland using a molotov cocktail, Domingo Lopez Jr. allegedly started six more fires along the west side of the I-205 freeway. He’s been arrested again.  [Wow!  Climate change strikes again!] https://archive.vn/f3GLb

NBC’s Sunday Night Football Ratings Crash Nearly 30% for Woke Opening Weekend

These results are disastrous for the NFL… Dallas Cowboys have possible the largest national fan following in the country, and the Los Angeles Rams play in the second largest media market in the country…  https://www.breitbart.com/sports/2020/09/14/nbcs-sunday-night-football-ratings-crash-nearly-30-for-woke-opening-weekend/

Well that is all for today

I will see you TUESDAY night.

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