NOV 2//USA ELECTION DAY TOMORROW//GOLD ADVANCES BY $13.60 TO $1892.50//SILVER UP A STRONG 40 CENTS TO $23.98//GOLD STANDING AT THE COMEX RISES TO 6.7 TONNES//CORONAVIRUS UPDATES THROUGHOUT THE GLOBE//MUSLIM ATTACKS IN FRANCE AND AUSTRIA (VIENNA)//CHINA VS AUSTRALIA: ESCALATION!!//TWO MAJOR REITS IN THE USA COLLAPSE//RENTAL MARKET IN THE USA COLLAPSES//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1892.50 UP  $13.60   The quote is London spot price

Silver:$23.98 UP 40 cents   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1895.75  LONDON SPOT  4:30 pm

ii)SILVER:  $24.06//LONDON SPOT  4:30 pm

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CLOSING FUTURES PRICES:  KEY MONTHS

NOV GOLD:  1891.70  CLOSE 1.30 PM//   SPREAD SPOT/FUTURE OCT /:  -$0.80

BACKWARD: $.80

DEC. GOLD  $1892.90   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $0.40/ CONTANGO   ( $2.60 BELOW NORMAL CONTANGO)//GOOD FOR EFP ISSUANCE //

CLOSING SILVER FUTURE MONTH

SILVER NOV COMEX CLOSE;   $24.20…1:30 PM.//SPREAD SPOT/FUTURE SEPT//  :    ( 22 CENTS CONTANGO//)

SILVER DECEMBER  CLOSE:     $24.02  1:30  PM SPREAD SPOT/FUTURE DEC.       :   4  CENTS PER OZ  CONTANGO (   1 CENT ABOVE NORMAL CONTANGO//GOOD FOR EFP ISSUANCE )

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Tomorrow is the uSA election and I am putting my money on Trump following the polls from the Trafalgar group.

COMEX DATA

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

receiving today: 521/718

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,877.400000000 USD
INTENT DATE: 10/30/2020 DELIVERY DATE: 11/03/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
159 C ED&F MAN CAP 3
332 H STANDARD CHARTE 8
435 H SCOTIA CAPITAL 169 70
657 C MORGAN STANLEY 8
657 H MORGAN STANLEY 87
661 C JP MORGAN 443
661 H JP MORGAN 78
690 C ABN AMRO 22
732 C RBC CAP MARKETS 430
737 C ADVANTAGE 5 11
800 C MAREX SPEC 24 26
880 C CITIGROUP 30
905 C ADM 22
____________________________________________________________________________________________

TOTAL: 718 718
MONTH TO DATE: 1,976

issued:0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 718 NOTICE(S) FOR 71,800 OZ  (2.233 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  1976 NOTICES FOR 197600 OZ  (6.146 tonnes) 

SILVER//NOV CONTRACT

68 NOTICE(S) FILED TODAY FOR 340,000  OZ/

total number of notices filed so far this month: 323 for 1,615,000  oz

BITCOIN MORNING QUOTE  $13,414   DOWN 344

BITCOIN AFTERNOON QUOTE.:  $13,670  DOWN 94 DOLLARS .

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GLD AND SLV INVENTORIES:

WITH GOLD UP $13.60  AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

A SMALL CHANGE IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF .58 TONNES FROM THE GLD.// THIS IS USUALLY FOR INSURANCE FEES/STORAGE FEES ETC:

GLD: 1,257.67 TONNES OF GOLD//

WITH SILVER UP  40 CENTS TODAY: AND WITH NO SILVER AROUND:

NO CHANGE IN SILVER INVENTORY AT THE SLV

SLV: 559.798  MILLION OZ./

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Let us have a look at the data for today

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IN SILVER THE COMEX OI FELL BY A CONSIDERABLE SIZED 1,529 CONTRACTS FROM 155,764 DOWN TO 154,235, AND FURTHER FROM  OUR NEW RECORD OF 244,710, (FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR GOOD 18 CENT RISE IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE LOSS IN COMEX OI IS  DUE TO CONSIDERABLE BANKER AND ALGO  SHORT COVERING, COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL. WE PROBABLY HAD TINY LONG LIQUIDATION, AND A VERY STRONG  STANDING AT THE COMEX FOR NOV.  WE HAD A VERY TINY NET LOSS IN OUR TWO EXCHANGES OF 34CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1495, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  1495, MARCH 0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1495 CONTRACTS. THE BANKERS ARE NOW BEING BITTEN BY THOSE SERIAL FORWARDS (EFP’S CIRCULATING IN LONDON)AS THEY ARE NOW BEING EXERCISED AND COMING BACK TO NEW YORK FOR REDEMPTION OF METAL.  THE COST TO SERVICE THESE SERIAL FORWARDS IS HIGH TO OUR BANKERS  BUT THEY HAVE NO CHOICE BUT TO ISSUE AS MANY AS THEY CAN!

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

55.400 MILLION OZ FINAL STANDING IN SEPT

11.400 MILLION OZ FINAL STANDING IN OCT.

2.490 MILLION OZ INITIAL STANDING IN NOV.

FRIDAY, 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 $.18) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  SOMEWHAT SUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME SILVER LONGS AS WE HAD A TINY NET LOSS IN OUR TWO EXCHANGES (129 CONTRACTS). NO DOUBT THE LOSS IN OI WAS DUE TO i)BANKER/ALGO SHORT COVERING.  WE ALSO HAD  ii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A STRONG GAIN  IN SILVER OZ STANDING  FOR NOV, iii) CONSIDERABLE COMEX LOSS  AND  iv) TINY  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

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

1495 CONTRACTS (FOR 1 TRADING DAY(S) TOTAL 1495 CONTRACTS) OR 7.475 MILLION OZ: (AVERAGE PER DAY: 1495 CONTRACTS OR 7.475 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF NOV: 7.475 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 1.06% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,536.52 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                                78.360 MILLION OZ (EXCHANGE FOR PHYSICALS DRAMATICALLY FALLING OFF A CLIFF)

OCT EFP                                 69.73   MILLION OZ (STILL FALLING IN NUMBERS)

NOVEMBER EFP                    7.475 MILLION OZ (STARTING TO INCREASE AGAIN)

RESULT: WE HAD A CONSIDERABLE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1529, DESPITE OUR STRONG $0.18 GAIN IN SILVER PRICING AT THE COMEX ///THURSDAY.THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1495 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE LOST A TINY SIZED 34 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR  STRONG $0.18 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 1495 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED DECREASE OF 1529 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.18 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $23.58 // FRIDAY’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. 0.786 BILLION OZ TO BE EXACT or 112% of annual global silver production (ex Russia & ex China).

FOR THE NEW NOV  DELIVERY MONTH/ THEY FILED AT THE COMEX: 68 NOTICE(S) FOR 340,000 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)

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 3680 CONTRACTS TO 542,015 AND FURTHER FROM OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED LOSS IN COMEX OI OCCURRED WITH OUR STRONG GAIN IN PRICE  OF $11.00 /// COMEX GOLD TRADING// FRIDAY. WE PROBABLY HAD SOME BANKER/ALGO SHORT COVERING  ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE  HAD TINY LONG LIQUIDATION AND A VERY STRONG GAIN IN GOLD OUNCES STANDING AT THE COMEX….THIS ALL HAPPENED WITH OUR STRONG GAIN IN PRICE OF $11.00. 

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  81//

WE HAD A TINY SIZED LOSS OF 895 CONTRACTS  (2.783 TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A SMALL SIZED 3051 CONTRACTS:

CONTRACT .  DEC: 2713; FEB: 0  ALL OTHER MONTHS ZERO//TOTAL: 2713.  The NEW COMEX OI for the gold complex rests at 542,015. 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 TINY SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 895 CONTRACTS: 3608 CONTRACTS DECREASED AT THE COMEX AND 2713 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS OF 895 CONTRACTS OR 2.773 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2713) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI  (3608 OI): TOTAL LOSS IN THE TWO EXCHANGES:  895 CONTRACTS. WE NO DOUBT HAD 1 ) SOME BANKER SHORT COVERING AND CONSIDERABLE ALGO SHORT COVERING ,2.)A STRONG GAIN IN OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT NOV. MONTH TO 6.7309 TONNES)  3)  SOME MINOR (IF ANY) LONG LIQUIDATION ;4) SMALL COMEX OI LOSS AND 5) SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS OCCURRED DESPITE  OUR STRONG GAIN IN GOLD PRICE TRADING//FRIDAY//$11.00.

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.

We have now switched to GOLD for our spreaders!!

FOR DETAILS ON THE SPREADING EXERCISE HERE IS A BRIEF OUTLINE:

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

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 DEC.

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

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

NOV

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV : 2713 CONTRACTS OR 271,300 oz OR 8.438 TONNES (1 TRADING DAY(S) AND THUS AVERAGING: 2713 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 1 TRADING DAY(S) IN  TONNES: 8.438  TONNES

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

THUS EFP TRANSFERS REPRESENTS 8.438/3550 x 100% TONNES =0.237% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE   3,695.53 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 (EFP ISSUANCE EXTREMELY LOW)

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:                       178.49 TONNES (EFP’s AGAIN RISING DUE TO BACKWARDATION/LOWER FUTURE PREMIUMS//THUS LESS COST TO CARRY)

OCT TOTAL EFP ISSUANCE.                        158.78 TONNES (AGAIN DROPPING)

NOV  TOTAL EFP ISSUANCE:                        8.438 TONNES

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

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 1529 CONTRACTS FROM 155,764 DOWN TO 154,235 AND FURTHER FROM 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 LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1)   SOME BANKER SHORT COVERING//ALGO SHORT COVERING//// , 2) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A STRONG GAIN IN  STANDING  FOR SILVER AT THE COMEX FOR NOV., AND 4) MINOR IF ANY LONG LIQUIDATION 

EFP ISSUANCE 1495 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 1495 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1495 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 1529 CONTRACTS TO THE 1495 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A TINY SIZED LOSS OF 34 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 0.170 MILLION  OZ, OCCURRED WITH OUR $0.18 RISE 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)MONDAY MORNING/ SUNDAY NIGHT: 

SHANGHAI CLOSED UP 0.59 PTS OR .02%   //Hang Sang CLOSED UP 352.59 PTS OR 1.46%    /The Nikkei closed UP 318.35 POINTS OR 1.39%//Australia’s all ordinaires CLOSED UP 0.23%

/Chinese yuan (ONSHORE) closed /Oil DOWN TO 35.05 dollars per barrel for WTI and 37.29 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6910. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6934 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE 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  FELL BY BY A SMALL 1529 CONTRACTS TO 542,015 MOVING FURTHER FROM   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 THIS  COMEX DECREASE OCCURRED DESPITE OUR STRONG RISE OF $11.00 IN GOLD PRICING /FRIDAY’S COMEX TRADING/). WE ALSO HAD A SMALL EFP ISSUANCE (2713 CONTRACTS).   WE ALSO HAD  1)  HUGE BANKER SHORT COVERING,  2)   TINY  LONG LIQUIDATION  AND 3)  A VERY STRONG GAIN  IN GOLD STANDING AT THE  COMEX  (6.7309 TONNES)//NOV. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED A SMALL SIZED LOSS ON OUR TWO EXCHANGES OF 895 CONTRACTS. 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. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS. WE CAN NOW VISUALLY SEE THAT SHORTS ARE TRYING TO EXTRICATE THEMSELVES FROM THEIR MESS (“TRYING TO GET OUT OF DODGE”) AS LONGS DEPART THE COMEX FOR THE SAFER CONFINES OF LONDON.

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT 81

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF NOV..  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 2713 EFP CONTRACTS WERE ISSUED:     DEC 2713; FEB// ’21 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2713  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 THE ISSUANCE WAS LESS THAN USUAL OF EXCHANGE FOR PHYSICALS 

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 895 TOTAL CONTRACTS IN THAT 2713 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED 3608 COMEX CONTRACTS.. THE BIG NEWS IS THE STRONG LEVEL OF NOV 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ( 6.7309 TONNE) AS NOVEMBER IS A NON ACTIVE AND GENERALLY A VERY POOR DELIVERY MONTH

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $11.00).  AND, THEY WERE  QUITE SUCCESSFUL IN FLEECING SOME LONGS. AS MENTIONED ABOVE THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED   2.783 TONNES,

NET LOSS ON THE TWO EXCHANGES :: 895, CONTRACTS OR 89,500 OZ OR 2.783 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:  542,473 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 54.24 MILLION OZ/32,150 OZ PER TONNE =  1687 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1687/2200 OR 76.68% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY: 170,780 contracts// volume atrocious//

CONFIRMED COMEX VOL. FOR YESTERDAY:  231,148 contracts//  volume: poor //most of our traders have left for London

NOV 2 /2020

NOV. GOLD CONTRACT MONTH

INITIAL STANDING FOR NOV GOLD
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
1286.04 oz
Manfra
40 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz 32,151.000 oz

Malca

1000 kilobars
OZ

No of oz served (contracts) today
718 notice(s)
 71800 OZ
(2.233 TONNES)
No of oz to be served (notices)
188 contracts
(18,800 oz)0.5847 TONNES
Total monthly oz gold served (contracts) so far this month
1976 notices
197,600 OZ
6.146 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 1 deposit into the customer account

i) Into Malca:  32,151.000 oz  (1000 kilobars)

total customer deposit:  32,151.000  oz

we had 1 gold withdrawals from the customer account:

i) Out of Manfra:  1286.04 oz (40 kilobars)

We had 2  kilobar transactions  +

ADJUSTMENTS: 1 // 

dealer to customer: Manfra: 5208.462 oz (162 kilobars)

The front month of NOV registered a total of 906 contracts for a LOSS of 634 contracts.  We had 1258 notices filed on Friday so we gained a whopping 624 contracts or 62,400 additional oz of gold will stand in this non active month of November.  There is now no question that we are experiencing a massive onslaught at the gold comex. 

The big December contract LOST 5690 contracts DOWN to 417,610 contracts. January received its first 3 contracts to stand at 3 contracts.

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR NOVEMBER (6.7309 tonnes). GENERALLY  NOVEMBER IS A VERY POOR DELIVERY MONTH AS MOST INVESTORS PREFER TO SKIP THIS MONTH AND MOVE STRAIGHT TO DECEMBER.  IT LOOKS LIKE SOME MAJOR ENTITY(GOLDMAN SACHS) JUST CANNOT WAIT FOR DECEMBER AS THEY ALONG WITH OTHERS) ARE MAKING THEIR MOVE  FOR PHYSICAL METAL. GOLDMAN SACHS ONE OF THE LEADERS OF THE NEW LONDON LME EXCHANGE NEEDS THE GOLD INVENTORY FOR LIQUIDITY AND INITIAL CONTRIBUTION WITH OTHER MAJOR PLAYERS. AS MENTIONED ABOVE THE GOLD COMEX IS EXPERIENCING A MASSIVE ONSLAUGHT FOR METAL

We had  718 notices filed today for  71,800 oz OR 3.912 TONNES.

FOR THE NOV 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from
JPMorgan dealer account and  0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 718  contract(s) of which 78  notices were stopped (received) by j.P. Morgan dealer and 443 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the NOV /2020. contract month, we take the total number of notices filed so far for the month (1976) x 100 oz , to which we add the difference between the open interest for the front month of  NOV (906 CONTRACTS ) minus the number of notices served upon today (718 x 100 oz per contract) equals 216,400 OZ OR 6.7309 TONNES) the number of ounces standing in this active month of NOV

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

No of notices filed so far (1976, x 100 oz +906 OI) for the front month minus the number of notices served upon today (718) x 100 oz which equals 216,400 oz standing OR 6.7309 TONNES in this  active delivery month. This is a HUGE amount for gold standing for a NOV delivery month (a very poor non active delivery month).

NEW PLEDGED GOLD:  BRINKS

596,952.410 oz NOW PLEDGED  SEPT 15.2020/HSBC  18.433 TONNES ( A HUGE INCREASE FROM 10.6)

60,784.803 PLEDGED  APRIL 3/2020: SCOTIA:            1.3234 tonnes

deleted Int. Delaware pledge July 7  (600 tonnes)

277,934.09 oz  (some deleted august 3)         JPM  8.644 TONNES

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

67,289.041 oz Pledged August 21/regular account 1.588 tonnes jpm

total pledged gold:  1,613,198.634 oz                                     50.177 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 498.68 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 6.7309 tonnes

CALCULATION OF REGISTERED GOLD THAT CAN BE SETTLED UPON:

total registered or dealer  17,356,233.121 oz or 539.85tonnes
total weight of pledged:  1,613,198.634 oz or 50.155 tonnes
thus:
registered gold that can be used to settle upon: 15,743,035..0  (489,67 tonnes)
true registered gold  (total registered – pledged tonnes  15,743,035.0 (489.67 tonnes)
total eligible gold:  20,192,759.352 oz (628.07 tonnes)

total registered, pledged  and eligible (customer) gold  37,548,992.473 oz 1,167.93 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1041.15 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

NOV 2/2020

And now for the wild silver comex results

And now for the wild silver comex results

INITIAL STANDINGS

NOV. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
6936,560 oz
Delaware
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
1,069.30 oz
Delaware
No of oz served today (contracts)
68
CONTRACT(S)
(340,000 OZ)
No of oz to be served (notices)
175 contracts
 875,000 oz)
Total monthly oz silver served (contracts)  323 contracts

1,615,000 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 deposits into the dealer:

total dealer deposits: nil      oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 1 deposits into the customer account (ELIGIBLE ACCOUNT)

i)into JPMorgan:  nil oz

ii) Into Delaware;  1069.300 oz

JPMorgan now has 190.787 million oz of  total silver inventory or 49.89% of all official comex silver. (190.787 million/381.797 million

total customer deposits today:  1069.300   oz

we had 1 withdrawals:

i) Out of Delaware:  6936.500

total withdrawals; 6936.500    oz

We had 0 adjustments

Total dealer(registered) silver: 135.461 million oz

total registered and eligible silver:  381.797 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

November saw a LOSS of only 201 notices DOWN to 243 contracts. We had 255 notices filed on Friday so we gained 54 contracts or 270,000 additional silver oz will stand in this non active delivery month of November.

December saw a LOSS of 1959 contracts DOWN to 119,090 contracts.

The total number of notices filed today for the NOV 2020. contract month is represented by 68 contract(s) FOR 340,000 oz

To calculate the number of silver ounces that will stand for delivery in NOV we take the total number of notices filed for the month so far at 323 x 5,000 oz = 1,615,000 oz to which we add the difference between the open interest for the front month of OCT( 243) and the number of notices served upon today 68x (5000 oz) equals the number of ounces standing.

Thus the NOV standings for silver for the OCT/2019 contract month: 323 (notices served so far) x 5000 oz + OI for front month of NOV  243)- number of notices served upon today (68) x 5000 oz of silver standing for the NOV contract month .equals 2,490,000 oz. ..VERY STRONG FOR A NON ACTIVE  NOV MONTH.

WE GAINED A STRONG 54 CONTRACTS OR AN ADDITIONAL 270,000 OZ WILL STAND FOR DELIVERY AT THE COMEX AND FORGO ANY FIAT BONUS AS THEY SEARCH FOR METAL ON THIS SIDE OF THE POND VS LONDON.

TODAY’S ESTIMATED SILVER VOLUME : 78,333 CONTRACTS // volume  good////

FOR YESTERDAY  87,972  ,CONFIRMED VOLUME//  high//

YESTERDAY’S CONFIRMED VOLUME OF 87,972 CONTRACTS EQUATES to 0.439 billion  OZ 62.8% 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  RISES TO- 2.76% ((Nov 2/2020)

2. Sprott gold fund (PHYS): premium to NAV  FALLS TO -0.58% to NAV:   (NOV 2/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.76%

(courtesy Sprott/GATA

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

NAV 19.32 TRADING 18.78///NEGATIVE 2.79

END

And now the Gold inventory at the GLD/

NOV 2/WITH GOLD UP $13.60 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF .58 TONNES AND THIS IS GENERALLY TO PAY FOR FEES (STORAGE/INSURANCE)//INVENTORY RESTS AT 1257.67 TONNES

OCT 30/WITH GOLD UP $11 TODAY: NO CHANGE IN GOLD INVENTORYAT THE GLD//INVENTORY RESTS AT 1258.25 TONNES

OCT 29/WITH GOLD DOWN $11.80 DOLLARS TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 8.47 TONNES FROM THE GLD////INVENTORY RESTS AT 1258.25 TONNES

OCT 28/STRANGE!WITH GOLD DOWN $30.50 TODAY, A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1266.72 TONNES

OCT 27/WITH GOLD UP $6.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1263.80 TONNES

OCT 26/WITH GOLD UP $1.50 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.77 TONNES FROM THE GLD//INVENTORY RESTS AT 1263.80 TONNES

OCT 23/WITH GOLD  DOWN 80 CENTS TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWL OF 3.8 TONNES FROM THE GLD////INVENTORY RESTS AT 1265.55 TONNES

OCT 22/WITH GOLD DOWN $22.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1269.35 TONNES

OCT 21//WITH GOLD UP $17.50 DOLLARS TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1269.93 TONNES

OCT 20/WITH GOLD UP $3.30 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: ANOTHER PAPER WITHDRAWAL OF 2.92 TONNES//INVENTORY RESTS AT 1269.93 TONNES

OCT 19WITH GOLD UP $5.15 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.5 TONNES FROM THE GLD///INVENTORY RESTS AT 1272.56 MILLION OZ//

OCT 16//WITH GOLD DOWN 10 CENTS TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.59 TONNES FROM THE GLD//INVENTORY RESTS AT 1276.06 MILLION OZ

OCT 15//WITH GOLD UP $1.10 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1277.65 TONNES

OCT 14/WITH GOLD UP $12.00 : NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1277.65 TONNES

OCT 13/WITH GOLD DOWN $31.70 DOLLARS: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1277.65 TONNES.

OCT 12/WITH GOLD UP $2.00 TODAY: A HUGE  CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 6.13 TONNES INTO THE GLD////INVENTORY RESTS AT 1277.65 TONNES

OCT 12/WITH GOLD UP $2.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1271.52 TONNES

OCT 9/WITH GOLD UP $31.10 TODAY/NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1271.52 TONNES

OCT 8/WITH GOLD UP $2.00 TODAY, NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1271.52 TONNES

OCT 7/WITH GOLD DOWN $16.00 DOLLARS TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.88 TONNES FROM THE GLD////INVENTORY RESTS AT 1271.52 TONNES

OCT 6/WITH GOLD DOWN $10.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1275.60 TONNES

OCT 5/WITH GOLD UP $12.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.59 TONNES//INVENTORY RESTS AT 1275.60 TONNES

OCT 2/WITH GOLD DOWN $7.30 TODAY, A HUGE CHANGE IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 9.3 TONNES INTO THE GLD//INVENTORY RESTS AT 1278.19 TONNES

OCT 1/WITH GOLD UP $19.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1268.89 TONNES

SEPT 30//WITH GOLD DOWN $6.80 TODAY, NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1268.89 TONNES

SEPT 29/WITH GOLD UP $19.10//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1268.89 TONNES

/SEPT 28//WITH GOLD UP $14.30 DOLLARS: A HUGE  CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.05 TONNES INTO THE GLD//INVENTORY RESTS AT 1268.89 TONNES

SEPT 25//WITH GOLD DOWN 410.80 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .3 TONNES FROM THE GLD////INVENTORY RESTS AT 1266.84 TONNES

SEPT 24/WITH GOLD UP $9.80 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1267.14TONNES.

SEPT 23//WITH GOLD DOWN $28.00 TODAY//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 11.68 TONNES FROM THE GLD////INVENTORY RESTS AT 1267.14 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at

NOV2/ GLD INVENTORY 1257.67 tonnes

LAST;  937 TRADING DAYS:   +317.12 NET TONNES HAVE BEEN ADDED THE GLD

LAST 837 TRADING DAYS//494.70  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY.

end

Now the SLV Inventor

NOV 2/WITH SILVER UP 40 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 559.798 MILLION OZ//

OCT 30/WITH SILVER UP 23 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 931,000 FROM THE SLV////INVENTORY RESTS AT 559.798 MILLION OZ..

OCT 29/WITH SILVER DOWN 4 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER DEPOSIT OF 2.326 MILLION OZ//INVENTORY RESTS A 560.729 MILLION OZ..

OCT 28/WITH SILVER DOWN $1.09 TODAY: A HUGE WITHDRAWAL OF 2.791 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 558.403 MILLION OZ..

OCT 27/WITH SILVER UP 18 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.194 MILLION OZ//

OCT 26/WITH SILVER DOWN 18 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.194 MILLION OZ

OCT 23/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.194 MILLION OZ

OCT 22/WITH SILVER DOWN 46 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.194 MILLION OZ

OCT 21/WITH SILVER UP 26 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.977 MILLION OZ FROM THE SLV..//INVENTORY RESTS AT 561.194 MILLION OZ.

OCT 20/WITH SILVER UP 31 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 652,000 OZ INTO THE SLV////INVENTORY RESTS AT 564.171 MILLION OZ//

OCT 19/WITH SILVER UP 27 CENTS TODAY: NO CHANGES IN SLV INVENTORY AT THE SLV//INVENTOR RESTS AT 563.519 MILLION OZ/

OCT 16/WITH SILVER UP 15 CENTS TODAY: NO CHANGES IN SLV INVENTORY//INVENTORY RESTS AT 563.519 MILLION OZ.

OCT  15/WITH SILVER DOWN 16 CENTS TODAY:NO CHANGES IN SLV INVENTORY//INVENTORY RESTS AT 563.519 MILLION OZ//

OCT 14/WITH SILVER UP 24 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.652 MILLION OZ//INVENTORY RESTS AT 563.519 MILLION OZ/

OCT 13/WITH SILVER DOWN 105 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 558.867 MILLION OZ..

OCT 12/WITH SILVER UP 28 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL 0F 1.396 MILLION OZ//INVENTORY RESTS AT 558.867MILLION OZ/

OCT 9/WITH SILVER UP $1.00 TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 560.263

OCT 8/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1.303 MILLION OF FROM THE SLV////INVENTORY RESTS AT 560.263 MILLION OZ//

OCT 7/WITH SILVER DOWN 9 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 466,000 OZ INTO THE SLV////INVENTORY RESTS AT 561.566 MILLION OZ/

OCT 6/WITH SILVER DOWN 51 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.100 MILLION OZ//

OCT 5/WITH SILVER UP 53 CENTS TODAY: A MONSTROUS CHANGE IN SILVER INVENTORY AT THE SLV:A  DEPOSIT OF 11.984 MILLION OZ INTO THE SLV //INVENTORY RESTS AT 561.100 MILLION OZ//

OCT 2/WITH SILVER DOWN 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 549.116 MILLION OZ//

OCT 1/WITH SILVER UP 66 CENTS TODAY, A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.489 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 549.116 MILLION OZ//

SEPT 30//WITH SILVER DOWN 96 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 186,000 OZ FROM THE SLV.//INVENTORY RESTS AT 550.605 MILLION OZ..

SEPT 29/WITH SILVER UP 86 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.791 MILLILON OZ//

SEPT 28//WITH SILVER UP 48 CENTS TODAY: A HUGE DEPOSIT OF 3.769 MILLION OZ CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.791 MILLION OZ//

SEPT 25/WITH SILVER DOWN 14 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: 2 TRANSACTIONS: A PAPER WITHDRAWAL OF 8.28 MILION OZ FROM THE SLV AND A DEPOSIT OF 1.861 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 547.022 MILLION OZ//

SEPT 24//WITH SILVER UP 15 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.443 MILLION OZ//

SEPT 23//WITH SILVER DOWN $1.41: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.048 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 553.443 MILLION OZ///

NOV 2.2020:

SLV INVENTORY RESTS TONIGHT AT

559.798 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

Amazing!!

Despite 5 felonies, the Fed entrusts the banks with 2$ trillion in bonds.

(Pam and Rus Martens/Wall Street on Parade)

Pam and Russ Martens: Despite JPM’s five felonies, the Fed entrusts the bank with $2 trillion in bonds

 Section: 

Maybe the Fed and JPMorgan Chase are actually the same entity — the government is the bank and the bank is the government. That would explain many things very nicely.

* * *

By Pam and Russ Martens
Wall Street on Parade
Friday, October 30, 3030

Imagine that your neighbor across the street had been criminally charged with five felony counts for financial crimes in the past six years and admitted to committing each and every crime to the U.S. Department of Justice. Would you put a third of all of your money in a safe, give that neighbor the combination, and ask him to hold the safe in his house for you?

You would probably be suited up for a straitjacket if you did something like that.

That’s effectively what the Federal Reserve, the central bank of the United States, has done when it comes to JPMorgan Chase.

As of this past Wednesday, the Fed has a $7 trillion balance sheet and $2 trillion of its agency mortgage-backed securities are sitting at JPMorgan Chase, the bank that the Justice Department has charged with five criminal felony counts since 2014 — all of which the bank admitted to.

Since JPMorgan Chase first inked a contract with the Federal Reserve Bank of New York on December 31, 2008, it has been the sole custodian of all of the agency mortgage-backed securities that the Fed had bought in its long-running quantitative-easing programs. The contract was updated on January 30, 2017, and continues to this day.

We confirmed that with the New York Fed yesterday. As of this past Wednesday, JPMorgan Chase was holding $2,000,305,000,000 (principal amount) in MBS backed by Fannie Mae, Freddie Mac, or Ginnie Mae that belongs to the Fed. …

… For the remainder of the report:

https://wallstreetonparade.com/2020/10/despite-its-five-felony-counts-th…

* * *

END

Ed Steer interviewed by Miller

(GATA)

GATA board member Ed Steer interviewed by Miller on the Money

 Section: 

11:42a ET Friday, October 30, 2020

Dear Friend of GATA and Gold:

GATA board member Ed Steer was interviewed yesterday by market analyst Dennis Miller about manipulation of the monetary metals markets and the growing acknowledgment of that manipulation. The interview is headlined “Corrupt Bankers Caught and Fined Again — Ho Hum!” and it’s posted at Miller on the Money here:

https://milleronthemoney.com/corrupt-bankers-caught-and-fined-again-ho-hum/

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

END

Bill Murphy interviewed by Chris Marcus

(Chris Marcus/Bill Murphy)

GATA Chairman Bill Murphy interviewed by Chris Marcus of Arcadia Economics

 Section: 

8:20p ET Sunday, November 1, 2020

Dear Friend of GATA and Gold:

In an interview with Chris Marcus of Arcadia Economics, GATA Chairman Bill Murphy reaffirms his belief that silver will score a spectacular breakout against the forces that long have been suppressing monetary metals prices. The interview is 24 minutes long and can be seen at YouTube here:

https://youtu.be/Pgk15zVgDTc

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

iii) Other physical stories:

Central banks sell gold for the first time in 10 years but the two countries doing it as basket cases Turkey and Uzbekistan.

(zerohedge)

Central Banks Sell Gold For The First Time In 10 Years Due To Just Two Countries

Following continuous quarterly net purchases since the start of 2011, in the third quarter of 2020 central banks switched to being modest net sellers for the first time in a decade, reducing global gold reserves by 12.1 tonnes in Q3 compared with purchases of 141.9 tons a year earlier, according to the latest Gold Demand Trends report by the World Gold Counsel.

And while that selling in itself would be notable, there are two very big caveats: not only have central banks remained net purchasers on a YTD, basis, with demand for the first three quarters totaling 220.6 tonnes, the selling was the results of just two reserve-strapped nations which rushed to convert gold into dollars: Turkey and Uzbekistan.

A few observations on Q3 activity which reflected two trends: a slowdown in purchases as the year has progressed combined with higher sales, which increased during the last quarter.

First, the WGC notes that there was more buying from familiar faces. Despite the quarterly net sales, six central banks increased their reserves in Q3 by a tonne or more, although total gross purchases were a modest 33t largely due to the continued economic hardship sparked by COVID-19. This has pre-occupied central banks and governments around the world, which have been forced to find USD-denominated liquidity. Indeed, as the WGC notes, “uncertainty has been elevated by the pandemic, motivating many investors – including central banks – to seek assets that will diversify and protect the value of their portfolios in times of crisis.” Central banks have been particularly hard hit by the low and negative interest rates on sovereign bonds, which make up the largest proportion of reserve assets for many. United Arab Emirates (7.4t), India (6.8t), Qatar (6.2t), Kyrgyz Republic (5t), Kazakhstan (4.9t), and Cambodia (1t) were notable, and familiar, buyers during the quarter.

Which brings us to the sellers… which were sizable but extremely concentrated. Reported gross sales jumped to 78.9t in Q3, with the rise mainly attributable to just two central banks: Turkey and Uzbekistan.

  • Turkey, which is undergoing an unprecedented current and capital account crisis which has drained the central bank’s reserves to almost nothing as the Turkish lira has disintegrated, reduced gold reserves by 22.3 tonnes during the quarter, the first quarterly decline since Q4 2018, as it is well on its way to becoming the next Venezuela – a country which liquidates its gold to keep the lights on. As the chart below from Goldman shows, while Turkey hasn’t engaged in full-blown liquidation yet, it may do so sooner rather than later with its FX reserves (excl swaps) at all time lows.

    Although the story is a bit more complex: higher domestic gold demand in August and September led to heightened gold trading activity between commercial banks and the central bank, resulting in this decline. But on a YTD basis, the country remains the biggest gold buyer, adding 148.7 tonnes, although the inflection point seems to coincide around the point in time when the lira suddenly collapse. Turkey’s official gold holdings now amount to 561 tonnes and 47% of total reserves. In August, Hasan Yucel, the head of Turkey’s Gold Miners Association, indicated that national gold production was expected to increase by 44% this year. He also stated that since 2017 the central bank has been the sole buyer of all domestic output and that will likely continue this year.
  • Uzbekistan reduced its gold reserves by 34.9t during Q3, bringing YTD net sales to 28.6t. Despite the sizable sale in Q3, gold reserves of 307t still account for 56% of total reserves. The country has seen a rise in gold exports this year as it looks to utilize its gold reserves, taking advantage of higher prices to combat the economic impact of the pandemic. Tajikistan (9.2t), Philippines (7.8t), Mongolia (2.4t), and Russia (1.2t) were the other notable but small sellers during the quarter.

“It’s not surprising that in the circumstances banks might look to their gold reserves,” said WGC analyst Louise Street. “Virtually all of the selling is from banks who buy from domestic sources taking advantage of the high gold price at a time when they are fiscally stretched.”

Central bank selling aside, total bullion demand fell 19% year-on-year to the lowest since 2009 in Q3, largely thanks to continued weakness in jewelry buying as a result of record high prices and the lockdown-induced economic slowdown. Indian jewelry demand fell by half, while Chinese jewelry consumption was also down. Overall jewelry demand fell to 333 tonnes, 29% below an already relatively anaemic Q3 2019.

By contrast, bar and coin demand strengthened, gaining 49% Y/Y to 222.1 tonnes as investors scrambled to buy paper gold. Much of the growth was also in official coins, due to continued strong safe-haven demand in Western markets and Turkey, where coins are the more prevalent form of gold investment. Q3 also saw continued inflows into gold-backed ETFs, which saw an eighth consecutive quarter of inflows. Q3 inflows of 272.5 tonnes pushed YTD flows to a record 1,003.3t and total global holdings of gold-backed ETFs to a new record of 3,880 tonnes.

Meanwhile, on the all important supply side, things are getting more ominous as total gold supply declined 3% year-on-year as mine production remained depressed, even after Covid-19 restrictions were lifted in producers like South Africa. A quarterly uptick in recycling softened the decline according to Bloomberg, with consumers cashing in on high prices.

END

A terrific paper from Steve Bruce

a good read…

end

Jim Sinclair Bill Holter with Greg hunter
Attachments area
Preview YouTube video Exploding Debt Means $100,000 Gold – Bill Holter & Jim Sinclair

end

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

71671201

Spencer Platt | Getty Images

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

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

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

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

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

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

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

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

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

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

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

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

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

end

March 4.2019

Parker City News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kovel declined to comment.

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

-END-

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

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

… 

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

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

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

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

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

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

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

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

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

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

* * *

Your early MONDAY 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 UP AT 6.6910 /

//OFFSHORE YUAN:  6.6934   /shanghai bourse CLOSE UP 0.59 PTS OR .02%

HANG SANG CLOSED UP 352/59 PTS OR 1.46%

2. Nikkei closed UP 318.35 POINTS OR 1.39%

3. Europe stocks OPENED ALL GREEN/

USA dollar index DOWN TO 94.02/Euro RISES TO 1.1656

3b Japan 10 year bond yield: RISES TO. +.05/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 104.69/ 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:: 35.06 and Brent: 37.29

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.62%/Italian 10 yr bond yield UP to 0.74% /SPAIN 10 YR BOND YIELD DOWN TO 0.14%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.36: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.93

3k Gold at $1891.00 silver at: 24.08   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 142/100 in roubles/dollar) 78.47

3m oil into the 37 dollar handle for WTI and 39 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 104.69 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 .9183 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0693 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.62%

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 0.858% early this morning. Thirty year rate at 1.646%

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

6.  TURKISH LIRA:  UP  TO 8.4365..

Futures Soar In Rollercoaster Session As “Huge Week” Begins

In a rollercoaster session which started with futures tumbling at the start of Sunday trading on the heels of a plunge in oil, which sent WTI below $35 on European lockdown fears and up to 1MMb/d in new production out of Libya, risk assets have staged a remarkable comeback with Emini futures rallying around the time of the European open, and surging over 40 points or 1.3%, rising to 3,307 having hit a session high of 3,322 earlier even as oil tumbled and yields were lower on the day.

Apple, Tesla and Twitter were about 1% higher in U.S. pre-market trading. The rebound in Eminis took place after Wall Street recorded its biggest weekly loss since March pushing it a a six-week low as results from technology mega-caps failed to impress and surging coronavirus cases in the United States and Europe as well as fears of a contested U.S. election dampened risk appetite.

Despite the bounce, the VIX remains near 4 month highs, last trading above 37 as investors remain on edge ahead of an event-packed week with the election, a Fed decision, over 100 S&P earnings and October payrolls all due. Traders anticipate short-term trading turmoil and major long-term policy shifts related to taxes, government spending, trade and regulation depending on whether President Donald Trump or his Democratic challenger Joe Biden wins the White House race. Focus this week will also be on the Fed’s two-day policy meeting, the monthly jobs report and earnings from about a quarter of the S&P 500 companies, including Qualcomm, General Motors and AIG.

It is a “huge week” for investors with the election, a Fed decision and October payrolls all due, and they are starting it on a positive note. Overnight, the MSCI Asia Pacific Index added 1% while Japan’s Topix index closed 1.9% higher. In Europe, the Stoxx 600 Index had gained 1.2% by 5:50 a.m. Eastern Time after technical difficulties lead to a delayed start in pricing. S&P 500 futures pointed to a rebound at the open, the 10-year Treasury yield was at 0.864% and gold was higher.

“Whichever way you look at it, this coming week will be huge for U.S. and global markets,” said Simon Ballard, chief economist at First Abu Dhabi Bank PJSC. “We see the potential for a sharp rise in volatility around these events — and all in the context of a still deteriorating Covid-19 situation across much of the U.S., Europe and elsewhere.”

So the virus will be big news this week but it will be hard to topple tomorrow’s US election off the front pages for the next few days. I say tomorrow but 93.29 million have already voted so far, which is 67.7% of 2016’s total. Incredible numbers. It’s fair to say markets could look very different on Wednesday morning as a “Blue Wave”, if it happens, should get the stimulus junkies hungry to buy and a divided government could remind people of the long winter ahead. So a very big week.

While it is possible that we will not know the winner tomorrow night, due to the high number of mail-in ballots and the various state procedures around them, we will likely have some indication of how the race is leaning. Florida and North Carolina could give a firm signal on the state of the race early on, as both have seen large numbers of early voters and are able to process and count mail-in ballots ahead of tomorrow’s poll closures. Without either of those states, President Trump’s path to re-election narrows. Polling averages continue to show a consistent lead for former Vice President Joe Biden, who is ahead by +8.5pts in the FiveThirtyEight national average, and by +7.2pts in the RealClearPolitics average. However, he leads by a lesser +3.3pt margin in RCP’s average of top battleground states. There will also be a big focus on the Senate races, with the FiveThirtyEight model giving Democrats a 76% chance to win control as we type.

Turning to Asia and over the weekend we saw China’s official October PMIs, which printed a touch better than expectations. The manufacturing PMI came in at 51.4 (vs. 51.3 expected) while non-manufacturing came in at 56.2 (vs. 56.0 expected) bringing the composite reading to 55.3 (vs. 55.1 last month). The Caixin manufacturing PMI this morning printed at 53.6 (vs. 52.8 expected), the highest since Jan 2011. Looking at other Asian manufacturing PMI’s this morning, Japan’s came in 0.7pts above the flash at 48.7 while Australia’s came in in-line with the flash at 54.2 with South Korea’s at 51.2 (vs. 49.8 last month). Vietnam and Taiwan also reported above 50 prints while Indonesia and Malaysia continued to remain in contractionary territory.

Asian markets are largely higher this morning on the better PMIs with the Nikkei (+1.41%), Hang Seng (+1.00%), CSI (+0.35%), Kospi (+1.22%) and Asx (+0.40%) all up. S&P 500 futures are also up +0.20% while yields on 10y USTs are down -1.4bps to 0.861%. In Fx, the US dollar index is up +0.12%, marking the 4th day of continuous gains. Elsewhere, Brent crude oil prices are down -3.16% to $36.74, the lowest since May as an increasing number of countries are going into wider lockdown and at the same time Libya is ramping up production. Libya has already increased its daily output to 800,000 barrels (vs. 100,000 barrels/day in early September).

We’ve also seen some positive Brexit headlines over the weekend with Bloomberg reporting that the UK and EU are seeing a compromise emerging on the contentious issue of fishing rights. Despite this cable is trading down -0.32% to $1.2906 as the lockdown imposed in England over the weekend is acting as an overhang and will likely prompt more monetary stimulus. In other news, Nigel Farage has announced that his party will be rebranded to ‘Reform UK’ in a bid to take on government’s ‘woeful’ Covid-19 response. The party will have an anti-lockdown agenda.

Staying in Asia, DB is hosting a client call tomorrow to discuss decarbonisation in China and the upcoming FYP. They’ll also explore the read-across for Autos/EVs, Mining & Steel. The climate theme continues to be very topical so it should be a good call. Registration details and more info on the topics of the call are here.

Looking forward, attention will also be back on central banks for a second straight week, with both the Federal Reserve and the Bank of England announcing their latest monetary policy decisions on Thursday. Starting with the Fed, the central bank is expected to remain in a holding pattern this meeting but may lay groundwork for action at future ones. We are also likely to hear even more on the need for fiscal stimulus, as the minutes from the last meeting showed that many central bankers had included it in their outlooks. It could also be interesting to hear how the election results, if we have them, alter that outlook. For the Bank of England meeting that’s also on Thursday, our economists expect (link here) a dovish committee, with the November Monetary Policy Report highlighting further downside risks to the UK and the external growth outlook. They also see the majority of the MPC voting for additional stimulus, with £60bn added to the Bank’s Asset Purchase Facility. The latest lockdown could easily see this increased or see the probability of greater action.

On the data front, the final October global manufacturing PMIs continue today in addition to the US ISM reading, before we see services and composite PMIs on Wednesday and Thursday. Also on Wednesday, we will see October inflation data for the Euro area. The week will end with US October payrolls and unemployment data on Friday. Never has payrolls been so far down the pecking order.

It’s also another big week on the earnings side too, with a total of 128 companies in the S&P 500 reporting over the week, along with a further 96 from the STOXX 600. In terms of the main highlights, today we’ll hear from Siemens, Clorox, Estee Lauder, PayPal Holdings and SBA Communications. Then on Tuesday, we’ll get releases from BNP Paribas, Bayer, Ferrari, Johnson Controls International, Humana, and Eversource Energy. Wednesday then sees reports from Danske Bank, Consolidated Edison, Vestas Wind Systems, QUALCOMM, MetLife, Allstate Corp and Public Storage. Then on Thursday, releases include Bristol-Myers Squibb Co, Zoetis, Linde, AstraZeneca, Regeneron Pharmaceuticals, Microchip Technology, Electronic Arts, American International Group and T-Mobile US. Lastly, on Friday, there’s Hershey, Allianz SE, CVS Health Corp and Marriott International.

Equity benchmarks across Europe and Asia were also higher, and investors took comfort in data that showed strength in China’s economic expansion, after the latest Caixin manufacturing PMI headline rose further to 53.6 in October, the strongest reading since January 2011. All major sub-indexes suggest stronger growth momentum in the manufacturing sector. The production sub-index rose from 54.2 to 54.5 in October, and the new orders sub-index increased to 57.0 from 55.5. The new export order sub-index moderated from the peak level in September, but still stayed quite strong at 51.0, in comparison with the average level of 45.3 in the first nine months of this year and 49.9 in 2019.

In Europe, the Stoxx 600 Index gained 1.4% after an outage due to “input data problems” led to a delayed start in pricing, incidentally just as US futures reversed their overnight losses and stormed higher. The issue did not affect trading of single stocks, but impacted derivatives or exchange traded funds whose prices are based on the pan-European STOXX 600 levels. “Our input data and index calculation have been affected by input data problems,” said, Qontigo, which is owned by Deutsche Boerse. Qontigo’s spokesman did not give further details on the reason for STOXX’s failure this morning. The STOXX 600 index opened an hour and six minutes late and was trading 0.4% higher at 343.6 points as of 0915 GMT. Online grocery retailer Ocado Group Plc jumped 10% to lead gains in the Europe Stoxx 600 Index.

Earlier in the session, the MSCI Asia Pacific Index added 1% with most markets in the region up. Hong Kong’s Hang Seng Index rose 1.5%, while Indonesia’s Jakarta Composite slid 0.3%. Trading volume for MSCI Asia Pacific Index members was 18% above the monthly average for this time of the day. The Topix added 1.8%, with Toyota and Recruit contributing the most to the move. The Shanghai Composite Index was flat, as Yangtze Power advanced and China Life dropped.

Despite the surge in stocks, not everyone was partying: as noted last night, oil prices slumped to a five-month low after Libya accelerated production and the U.K. joined other European countries in toughening travel restrictions. Oil-exporter currencies were hammered, with the ruble plunging past 80 against the dollar, trading at its weakest level since March.

In pandemic news, deaths from Covid-19 topped 1.2 million after the most fatalities from the virus since April were reported in the last week. As reported over the weekend, England will enter a second lockdown this week after cases spiked there, following similar moves in much of Europe. In an ironic twist, the director of the World Health Organization – which waited over a month to declare a pandemic in March on orders from China – Tedros Adhanom Ghebreyesus said he has gone into self-quarantine.

In rates, Treasuries were steady with yields slightly lower on the day, despite S&P 500 futures exceeding Friday’s highs as crude futures pare early losses. Treasury 10-year yields lower by 1.3bp at around 0.86%, toward top of last week’s 0.744%-0.875% range, while Gilts outperform by 2bp after Citigroup revised its BOE call, predicting an increase in bond buying at Thursday’s policy meeting. Choppy price action during Asia session and European morning reflected markets bracing for risk events; block sale in 10-year futures added some downside pressure.

In FX, the dollar pared an earlier gain as risk sentiment improved though it was still up versus most G-10 peers. The euro was steady, while front-end option bets show investors prefer to short the euro into year-end. The pound led losses and dropped to a one-month low against the dollar, as the prospect of a renewed nationwide lock-down weighed on the currency and offset positive news on Brexit negotiations. Norway’s krone and the Australian dollar erased earlier losses as oil pared its decline; the Aussie was weighed down in Asia hours by expectations of a rate cut this week. RBA will cut the cash rate to 0.10% from 0.25% and set its yield curve control and bank funding facility at the same level, while reinforcing no tightening for three years, economists predicted ahead of Tuesday’s meeting. The yen fell while Japan’s bonds were mixed amid uncertainty over the demand for a 10-year bond that’s set to be auctioned around the time the U.S. election outcome is expected

Elsewhere, spot gold and spot silver were unfazed by the early USD-strength but have seen tailwinds as the Dollar Index wanes off highs heading into this risk-abundant week – with the yellow metal still sub-1900/oz at around USD 1890/oz (vs. low 1873/oz) whilst spot silver test USD 24/oz to the upside (vs. low 23.39/oz). Finally, LME copper opened somewhat lackluster but now ekes mild gains in line with stock market action.

On today’s calendar we get the Canadian manufacturing PMI is at 9:30 a.m., the final reading of the U.S. number at 9:45am, and the US ISM Manufacturing is at 10:00 a.m. Joe Biden holds events in Cleveland and Pennsylvania. Lumber Liquidators Holdings, Mondelez, Skyworks and Clorox are among the many companies reporting results.

Market Snapshot

  • S&P 500 futures up 1.2% to 3,304.75
  • STOXX Europe 600 up 0.9% to 345.51
  • MXAP up 1% to 173.47
  • MXAPJ up 0.7% to 574.56
  • Nikkei up 1.4% to 23,295.48
  • Topix up 1.8% to 1,607.95
  • Hang Seng Index up 1.5% to 24,460.01
  • Shanghai Composite up 0.02% to 3,225.12
  • Sensex up 0.7% to 39,902.90
  • Australia S&P/ASX 200 up 0.4% to 5,951.30
  • Kospi up 1.5% to 2,300.16
  • German 10Y yield rose 1.0 bps to -0.617%
  • Euro up 0.01% to $1.1648
  • Italian 10Y yield rose 15.9 bps to 0.648%
  • Spanish 10Y yield rose 1.8 bps to 0.153%
  • Brent futures down 2.1% to $37.15/bbl
  • Gold spot up 0.6% to $1,889.18
  • U.S. Dollar Index little changed at 94.09

Top Overnight News from Bloomberg

  • Following Tuesday’s showdown between President Donald Trump and Democratic nominee Joe Biden means more than identifying the battleground states and remembering how the Electoral College works: your hour-by-hour guide
  • Democratic presidential nominee Joe Biden warned Sunday that he wouldn’t let President Donald Trump declare victory in Tuesday’s election before the results are clear
  • Democratic nominee Joe Biden leads President Donald Trump in a series of polls released Sunday, remaining ahead nationally and in battleground states, although some state races remain extremely close
  • Large swathes of Europe enter lockdown this week, with England joining nations from Austria to Greece in concluding that tougher action is needed to stop the coronavirus spreading out of control
  • The Bank of England looks certain to fire another burst of monetary stimulus this week as new coronavirus lockdowns leave the economy facing a third quarter of decline in 2020
  • Speculative investors boosted bullish wagers on the U.S. stock market to the highest level in almost two years, a sign that some saw the potential for the S&P 500 index to bounce back from a two-month slump
  • The ECB doesn’t need to further fuel booming demand for green bonds, according to Governing Council member Robert Holzmann. Favoring climate- friendly securities risks distortions in financial markets, Holzmann, who also heads the Austrian National Bank, said
  • Chinese President Xi Jinping called for setting up independent and controllable supply chains to ensure industrial and national security, just as the U.S. moves to cut China off from key exports
  • Last month saw a fourth consecutive increase in euro-area factory output, underpinned by stronger demand from within the region and beyond. Companies remained positive about future production, but still continued to cut staff

A quick look at global markets courtesy of NewsSquawk

Asian equity markets traded with cautious gains and US stock index futures were choppy amid tentativeness moving into a risk-packed week with the US election, major central bank meetings & NFP data all scheduled, while participants also digested new lockdown announcements and stronger than expected Chinese PMI data. ASX 200 (+0.4%) was kept afloat amid expectations of further policy easing by the RBA at tomorrow’s meeting but with gains capped by oil sector losses and indecision in financials, as a continued surge in AMP shares after it confirmed the value of the Ares proposal, was partially counterbalanced by losses in Westpac due to a 62% decline in full-year profit. Nikkei 225 (+1.4%) was underpinned as focus centred on earnings and with the index benefitting from the tailwinds provided by the constructive Chinese data. Elsewhere, Hang Seng (+1.5%) and Shanghai Comp. (U/C) were varied after the recent blue-chip earnings including mostly weaker results from China’s big 4 banks although the PMI data was more encouraging in which the official Manufacturing and Non-Manufacturing PMI data topped estimates, while Chinese Caixin Manufacturing PMI also exceeded expectations to print its highest since January 2011. Finally, 10yr JGBs were steady to provide some reprieve from Friday’s selling pressure and breakdown of the 152.00 support level, although the rebound was limited by the tentative gains in stocks and somewhat inconclusive purchase intentions by the BoJ for November in which it raised the amounts of 1yr-3yr and 3yr-5yr purchases but also reduced the frequency of those purchases to 5 from 6 occasions during the month.

Top Asian News

  • China Factory Outlook Slips Slightly as Recovery Stays on Track
  • Evergrande Raises $2.2 Billion in Asset Sale; Shares Gain
  • Ant Group Is Said to Have 50% Premium in Hong Kong Gray Market
  • China Gained Ground on India During Bloody Summer in Himalayas

In Europe, cash equities kicked off the week mostly higher and have since extended on opening gains (Euro Stoxx 50 +1.8%) following a similar APAC lead as markets look ahead to a risk-abundant week with the US election (full guide available on the Research Suite) and the FOMC meeting in the forefront ahead of the US labour market report. Back to Europe, upside across cash and futures coincided with the release of above-forecast manufacturing PMI figures suggesting October optimism in the sectors; albeit, as a caveat, the data was collected between October 12th and 23rd and does not take into account the most recently announced lockdown measures in Germany, France, Belgium, UK and Austria. Nonetheless, regional bourses trade with gains across the board, whilst the FTSE 100 (+1.0%) erased earlier lockdown-related losses and conformed to the broader gains across the equity-space. Sectors are now all in positive territory vs. a mixed open which saw energy lagging and IT outpacing following ON Semiconductor’s upbeat sector outlook. However, since then, the oil & gas sector has overtaken regional peers to become the outperformer as the crude complex trims losses. Financials follow as a close second amid tailwinds from higher yields. Unsurprisingly, on the other side of the spectrum resides the Travel & Leisure sector as the reimposition of nationwide lockdowns takes its toll. That being said, most airliners have nursed earlier losses, but easyJet (-1.4%) remains under pressure as the CEO is seeking ways to bolster finances, with state-aid not ruled out, whilst Ryanair (+2.3%) is lifted after a less-dire-than-expected earnings report. Carnival (+6.5%) shares extend gains in early hours as the US CDC’s ban on cruises expired on Saturday without renewal. In terms of other individual movers, Ocado (+9.8%) trades at the top of the Stoxx 600 after a guidance upgrade, with the new UK lockdown also providing some tailwinds for the food delivery space. AstraZeneca (+0.7%) is supported after the Co. said the UK Health regulator had started an accelerated review of its potential coronavirus vaccine. Elsewhere, earnings-related movers include Siemens Healthineers (-0.1%) and Umicore (-6.9%).

Top European News

  • Nexi Enters Exclusive Talks With Nets in Payments Shakeup
  • Alfa Laval May Drop $2 Billion Takeover After Rival Proposal
  • Ryanair Braces for Deeper Loss Amid New Spate of Lockdowns
  • Pimco, Davidson Kempner Said to Bid in $13 Billion Alpha Deal

In FX, the Pound unwound all and more of its earlier recovery gains made amidst reports that the UK and EU will resume trade talks this week and could be getting closer to agreeing terms on the issue of fishing that has been so hotly disputed. However, bears pounced on the bounce as the country heads back into lockdown on November 5 when the outcome of the latest BoE policy meeting will be revealed, with Cable around 100 pips down from best levels circa 1.2952 and through the 100 DMA (1.2878) before finding some underlying bids ahead of 1.2850, while Eur/Gbp tested 0.9050 from circa 0.9000 where 1.5 bn option expiries reside. Similarly, Aussie ducked under 0.7000 and is still struggling to retain 1.0600+ status vs its US and Kiwi counterparts respectively even though building approvals blitzed consensus overnight, as expectations are elevated for conventional and non-standard easing from the RBA on Tuesday, while China has upped the import ban ante yet again to offset any positives from above forecast Chinese PMIs.

  • USD – An upturn in broad risk sentiment, perhaps more on post-month end positioning rather than any real bullish factor, has dampened some Dollar demand, but the DXY remains firm above the 94.000 handle within a 94.035-285 range ahead of this week’s major events, kicking off with the US Presidential Election tomorrow, then the FOMC on Wednesday and NFP 2 days later. Note, further bear-steepening along the Treasury curve may also be Buck supportive and in recognition of Biden still holding a lead over incumbent Trump.
  • JPY – The Yen has also lost safe-haven status amidst renewed risk appetite, as prior support at 104.50 and a key Fib level becomes resistance and Usd/Jpy eyes 105.00 ahead of rather stale BoJ minutes and the aforementioned US vote.
  • NZD/CAD/EUR/CHF – All narrowly mixed against the Greenback, with the Kiwi holding above 0.6600 in advance of NZ jobs data and as PM Adern forms her new cabinet, while the Loonie has rebounded towards 1.3300 alongside crude prices awaiting Canada’s manufacturing PMI. Elsewhere, better than anticipated or flash Eurozone manufacturing PMIs could be keeping the Euro afloat between 1.1623-56 parameters following an extension of the post-ECB decline and the Franc is pivoting 0.9170 after another rise in Swiss sight deposits and a slowdown in the manufacturing PMI, albeit still over 50.0.
  • SCANDI/EM – Relatively upbeat manufacturing PMIs appear to be underpinning the Swedish and Norwegian Crowns even though the latter will be wary of ongoing weakness in oil in the run up to Thursday’s Norges Bank policy meeting, but the Turkish Lira has derived little or nothing from cheaper crude, a firmer manufacturing PMI or the CBRT cutting interbank lending limits to zero as Usd/Try sits just shy of yet another ATH (8.4111). Conversely, the SA Rand has gleaned some traction from a strong 60.0+ manufacturing PMI and Brazil’s Real will likely get some respite due to the All Saint’s Day holiday.

In commodities, WTI and Brent front month futures started the trading week on the backfoot amid a continuation of the downside price action seen last week as demand recovery prospects dwindle amid the reimposition of nationwide pandemic-related lockdowns, whilst supply side also sees bearish developments. The crude contracts however are trimming earlier losses in tandem with broader gains across stock market heading into a plethora of risk events later in the week. Back to fundamentals, recently announced restrictions from significant oil consumers UK, Belgium, France and Germany keeps gains in the complex somewhat capped – with ING noting that these four countries contribute to a little over 6% ( or ~6mln BPD) of global consumption. Moving onto the supply side – Hurricane Zeta’s passing sees the resumption of operations in the Gulf of Mexico (GoM), with the latest update from the BSEE suggesting 46% (Prev. 59%) of oil and 20% (Prev. 32%) of natgas production still shut-in, whilst NHC stated that Eta has evolved into a hurricane, but the projected path shows that it will steer clear from the GoM. Sticking with supply, Libya’s oil output has reportedly been ramped up to 800k BPD (vs. 690k BPD on 26th Oct), with the country’s rising output also proving a headache for OPEC+ against the backdrop of the pandemic – suggesting an increasing likelihood that the oil producers will roll over current cuts into next year as opposed to a wind-down. Desks also note of the US election risk, ING suggests that a Biden win could translate into a less hawkish stance on Iran and “raising the possibility that we see oil sanctions against Iran removed.” WTI Dec tested USD 35/bbl to the upside (vs. low 33.64/bbl) whilst Brent Jan regains a footing over USD 37/bbl (vs. low 35.74/bbl). Elsewhere, spot gold and spot silver were unfazed by the early USD-strength but have seen tailwinds as the Dollar Index wanes off highs heading into this risk-abundant week – with the yellow metal still sub-1900/oz at around USD 1890/oz (vs. low 1873/oz) whilst spot silver test USD 24/oz to the upside (vs. low 23.39/oz). Finally, LME copper opened somewhat lacklustre but now ekes mild gains in line with stock market action.

US Event Calendar

  • 9:45am: Markit US Manufacturing PMI, est. 53.3, prior 53.3
  • 10am: ISM Manufacturing, est. 55.8, prior 55.4
  • 10am: Construction Spending MoM, est. 0.95%, prior 1.4%

DB’s Jim Reid concludes the overnight wrap

There are many hugely important campaigns and causes around the world and many injustices that make me angry. However I’m embarrassed to say that I signed my first-ever petition over the weekend. Yes to fight for the right for golf courses to stay open during the fresh lockdown that was announced here in England over the weekend. At the moment they are going to be closed again this week just as I was playing some of my best golf of the year with two delayed finals coming up over the next two weekends and chances for silverware. I appreciate my woes are insignificant to the wider problems the world is facing up to but nevertheless if there is a more socially distanced pursuit than golf, then I’d be impressed. Although to be fair perhaps the government discovered I’d been hitting it straighter recently.

So as lockdown “lite” hits yet another country, Europe is facing up to a harsh winter ahead. The question to be asked to all the European countries is can they come out of these measures in some form towards the end of November/early December as is hoped or will they be extended further. The hit to the U.K. economy will be softened by an extension of the furlough scheme but that will only add more to the debt. The hope everywhere is that well before the winter/spring peak virus season is over we’ll have the start of a vaccine program or more realistically in the near term a huge advance in rapid result testing. The latter has to be the greatest hope of restrictions being eased before a vaccine has mass rollout. Meanwhile, overnight Bloomberg reported that Italy might tighten restrictions further today with PM Conte wanting more localised curbs depending on virus transmissions – something some regional authorities are resisting.

So the virus will be big news this week but it will be hard to topple tomorrow’s US election off the front pages for the next few days. I say tomorrow but 93.29 million have already voted so far, which is 67.7% of 2016’s total. Incredible numbers. It’s fair to say markets could look very different on Wednesday morning as a “Blue Wave”, if it happens, should get the stimulus junkies hungry to buy and a divided government could remind people of the long winter ahead. So a very big week.

While it is possible that we will not know the winner tomorrow night, due to the high number of mail-in ballots and the various state procedures around them, we will likely have some indication of how the race is leaning. Florida and North Carolina could give a firm signal on the state of the race early on, as both have seen large numbers of early voters and are able to process and count mail-in ballots ahead of tomorrow’s poll closures. Without either of those states, President Trump’s path to re-election narrows. Polling averages continue to show a consistent lead for former Vice President Joe Biden, who is ahead by +8.5pts in the FiveThirtyEight national average, and by +7.2pts in the RealClearPolitics average. However, he leads by a lesser +3.3pt margin in RCP’s average of top battleground states. There will also be a big focus on the Senate races, with the FiveThirtyEight model giving Democrats a 76% chance to win control as we type.

Turning to Asia and over the weekend we saw China’s official October PMIs, which printed a touch better than expectations. The manufacturing PMI came in at 51.4 (vs. 51.3 expected) while non-manufacturing came in at 56.2 (vs. 56.0 expected) bringing the composite reading to 55.3 (vs. 55.1 last month). The Caixin manufacturing PMI this morning printed at 53.6 (vs. 52.8 expected), the highest since Jan 2011. Looking at other Asian manufacturing PMI’s this morning, Japan’s came in 0.7pts above the flash at 48.7 while Australia’s came in in-line with the flash at 54.2 with South Korea’s at 51.2 (vs. 49.8 last month). Vietnam and Taiwan also reported above 50 prints while Indonesia and Malaysia continued to remain in contractionary territory.

Asian markets are largely higher this morning on the better PMIs with the Nikkei (+1.41%), Hang Seng (+1.00%), CSI (+0.35%), Kospi (+1.22%) and Asx (+0.40%) all up. S&P 500 futures are also up +0.20% while yields on 10y USTs are down -1.4bps to 0.861%. In Fx, the US dollar index is up +0.12%, marking the 4th day of continuous gains. Elsewhere, Brent crude oil prices are down -3.16% to $36.74, the lowest since May as an increasing number of countries are going into wider lockdown and at the same time Libya is ramping up production. Libya has already increased its daily output to 800,000 barrels (vs. 100,000 barrels/day in early September).

We’ve also seen some positive Brexit headlines over the weekend with Bloomberg reporting that the UK and EU are seeing a compromise emerging on the contentious issue of fishing rights. Despite this cable is trading down -0.32% to $1.2906 as the lockdown imposed in England over the weekend is acting as an overhang and will likely prompt more monetary stimulus. In other news, Nigel Farage has announced that his party will be rebranded to ‘Reform UK’ in a bid to take on government’s ‘woeful’ Covid-19 response. The party will have an anti-lockdown agenda.

Staying in Asia, DB is hosting a client call tomorrow to discuss decarbonisation in China and the upcoming FYP. They’ll also explore the read-across for Autos/EVs, Mining & Steel. The climate theme continues to be very topical so it should be a good call. Registration details and more info on the topics of the call are here.

Looking forward, attention will also be back on central banks for a second straight week, with both the Federal Reserve and the Bank of England announcing their latest monetary policy decisions on Thursday. Starting with the Fed, the central bank is expected to remain in a holding pattern this meeting but may lay groundwork for action at future ones. We are also likely to hear even more on the need for fiscal stimulus, as the minutes from the last meeting showed that many central bankers had included it in their outlooks. It could also be interesting to hear how the election results, if we have them, alter that outlook. For the Bank of England meeting that’s also on Thursday, our economists expect (link here) a dovish committee, with the November Monetary Policy Report highlighting further downside risks to the UK and the external growth outlook. They also see the majority of the MPC voting for additional stimulus, with £60bn added to the Bank’s Asset Purchase Facility. The latest lockdown could easily see this increased or see the probability of greater action.

On the data front, the final October global manufacturing PMIs continue today in addition to the US ISM reading, before we see services and composite PMIs on Wednesday and Thursday. Also on Wednesday, we will see October inflation data for the Euro area. The week will end with US October payrolls and unemployment data on Friday. Never has payrolls been so far down the pecking order.

Lastly, it’s another big week on the earnings side too, with a total of 128 companies in the S&P 500 reporting over the week, along with a further 96 from the STOXX 600. In terms of the main highlights, today we’ll hear from Siemens, Clorox, Estee Lauder, PayPal Holdings and SBA Communications. Then on Tuesday, we’ll get releases from BNP Paribas, Bayer, Ferrari, Johnson Controls International, Humana, and Eversource Energy. Wednesday then sees reports from Danske Bank, Consolidated Edison, Vestas Wind Systems, QUALCOMM, MetLife, Allstate Corp and Public Storage. Then on Thursday, releases include Bristol-Myers Squibb Co, Zoetis, Linde, AstraZeneca, Regeneron Pharmaceuticals, Microchip Technology, Electronic Arts, American International Group and T-Mobile US. Lastly, on Friday, there’s Hershey, Allianz SE, CVS Health Corp and Marriott International.

Back to last week, and the big story was the reintroduction of lockdowns in Europe’s biggest economies and equities in the US and Europe posting their worst weeks since March. In the US, the S&P 500 fell -5.64% (-1.21% Friday) and was led by losses in megacap technology stocks, many of whom reported earnings in the latter part of the week. The NASDAQ declined -5.51% (-2.45% Friday), the second straight weekly loss. The VIX has now risen 0.4pts to 38.0pts, the highest weekly close since April. Risk sentiment continued to deteriorate in Europe as France and Germany announced national “lite” lockdowns, and various other countries introduced mobility restrictions of their own. The Stoxx 600 ended the week -5.56% lower (+0.18% Friday), at its lowest point since late-May. This was the case in bourses across the continent with the IBEX (-6.40%), FTSE MIB (-6.96%), and DAX (-8.61%) all falling to multi-month lows. The potential demand shock of the shutdowns and rising US dollar saw oil prices fall sharply, with WTI (-10.19%) and Brent (-10.32%) seeing their worst weeks since late April.

With risk sentiment continuing to fall, the dollar rose +1.37% on the week, the second largest weekly rise since the first week of April. Even as equities fell sharply, core sovereign bonds diverged with US 10yr Treasury yields rising +3.1bps on the week, primarily due to the +5.1bps spike on Friday. In Europe, 10yr bunds fell -5.3bps over the week with 10yr gilts dropping -1.8bps as the ECB signalled further easing and markets anticipating possible action from the BoE meeting this week. Elsewhere in fixed income, credit spreads on both sides of the Atlantic widened as equity volatility rose, oil prices plunged and sentiment waned. Both US and European HY cash spreads were +31bps wider, with European IG cash spreads unchanged as US IG widened +4bps.

In terms of data released on Friday, we got a round of Q3 GDP readings from Europe’s largest economies. Euro Area Q3 GDP rose 12.7% (vs 9.6% expected), setting a record that in some ways was overshadowed by the shutdowns announced throughout the week. Italy (+16.1% vs +11.1% expected) and France (+18.2% vs +15.0% expected) rose double digits, while Germany’s economy grew +8.2% (vs +7.3% expected). Headline Euro area CPI fell -0.3% year-on-year in October, in-line with expectations, while core stayed at record lows just above zero. ECB President Lagarde said consumer prices could keep falling into 2021, but did not believe that the economy was seeing deflation. Out of the US, the PCE core deflator rose at 1.4% year-on-year, 0.1pp below expectations, though slightly higher than last month’s revised +1.3% reading. Elsewhere, the MNI Chicago PMI was a strong 61.1 (vs. 58.0 expected) and the University of Michigan consumer sentiment survey came in at 81.8 (vs. 81.2 expected), the highest since March.

3A/ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT: 

SHANGHAI CLOSED UP 0.59 PTS OR .02%   //Hang Sang CLOSED UP 352.59 PTS OR 1.46%    /The Nikkei closed UP 318.35 POINTS OR 1.39%//Australia’s all ordinaires CLOSED UP 0.23%

/Chinese yuan (ONSHORE) closed /Oil DOWN TO 35.05 dollars per barrel for WTI and 37.29 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6910. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6934 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE 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/USA/AUSTRALIA

China and Australia have their trade with each other spiraling out of control. Australia is visibly upset with China’s theft of intellectual property

(zerohedge)

China Poised To Ban Australian Lobster, Copper & Sugar Amid Spiraling Trade Dispute

The South China Morning Post cited multiple trade sources on Monday to say China’s customs is delaying imports of lobster from Australia, and is further expected to impose bans on Australian imports of copper ore, copper concentrate, and sugar at some point this week – at a moment relations between the two countries have hit the lowest point in decades. This after last week a ban was placed on some timber and barely shipments, commonly used in animal fodder and beer production, already partially banned since September 1.

Further Australia’s Seafood Trade Advisory Group noted that some Australian lobster shipments have been subject of increased import inspections once arriving in China, causing most exporters to temporarily halt their shipments there until more is known. Local media reports have said in at least one instance tons of premium shellfish were left on a Chinese airport tarmac.

Via Australian 7 News

Australia’s agriculture minister David Littleproud said he has “serious concerns” over reports of what appears the unnecessary excuse of inspectors checking for trace elements of minerals and metals (given it’s already tested upon leaving Australia) and questioned why such actions are being taken.

Crucially, China accounts for 94% of Australian rock lobster exports, estimated at over half a billion dollars in 2018-2019. Imports of premium shellfish only stay fresh for three days unless quickly put into holding tanks. Barley was also recently hit with tariffs while wine was subject of additional stringent import procedures.

Australia’s Trade Ministry is protesting the delays and significant rumors of further import bans, with Trade Minister Simon Birmingham urging “Chinese authorities should rule out the use of any such discriminatory actions.” In the Monday statement he said that all importers must be treated equally.

This also as the government probes both China’s suspension of imports of Australian coal and possibly fiber used by Chinese cotton mills.

“So far as any industry concerns imply a breach of World Trade Organisation or China-Australia Free Trade Agreement commitments, Chinese authorities should rule out the use of any such discriminatory actions,” Birmingham said.

Source: Trading Economics

Via Trading Economics: Australia exports to China was US$103 Billion during 2019, according to the United Nations COMTRADE database on international trade. 

Prime Minister Scott Morrison has recently slammed Australia’s biggest trading partner as practicing blatant “economic coercion” with regard to an increasing array of its exports. This following political leaders over the summer spotlighting Beijing for its role and neglect in the spread of the COVID-19 pandemic.

Things took a more intense turn when Beijing recently began discouraging tourists and students from visiting Australia, also as China detained some high profile Aussie media figures working in the country.

Prior to the pandemic, Chinese travelers made up by far the largest source of tourism for Australia, according to one industry report accounting for $12.4 billion of the $45.4 billion tourism brought into to the country each year.

4/EUROPEAN AFFAIRS

FRANCE

All synagogues and Jewish schools in Nice closed on fears of another Islamic terror attack

(zerohedge)

All Synagogues & Jewish Schools In Nice Closed On Fears Of Islamic Terror Attacks

The large Jewish community in Nice, France is on edge this weekend following the horrific beheading of an elderly woman and the fatal stabbing of two others at the city’s Notre Dame church on Thursday.

The killer has been identified as 21-year old migrant Brahim Issaoui who recently arrived from Tunisia. The man had shouted “Allahu Akbar” just before police shot him. The man had been carrying a Koran. French President Emmanuel Macron said in the wake of the attack that “France is under attack from Islamist terrorists.” 

French ant-terrorism forces deployed in Nice, via AFP.

“We are being attacked [for] our values: Freedom and the refusal to give in to terrorism,” he added of the second major Islamic terror attack this month. More than two weeks ago teacher Samuel Paty was beheaded in a northern Paris suburb after showingCharlie Hebdo cartoons to his students.

Multiple Middle East countries, including Lebanon and Pakistan witnessed large Muslim protests in front of the French embassies in the countries Friday. Macron is being called “anti-Islamic” as tensions mount in a very similar way to what triggered the Charlie Hebdo killings. The January 7, 2015 Charlie Hebdo massacre left 12 people dead after the newspaper published a series of cartoons perceived as mocking the founder of Islam Muhammad.

Recall too that the three day long Charlie Hebdo related violence in 2015 ended when a terrorist held 19 hostages at a Jewish supermarket during a standoff with police. Four Jewish shoppers had been murdered before the standoff was over, as CNN recounts:

Three days of violence began with a massacre at the offices of satirical magazine Charlie Hebdo, which had previously published controversial cartoons depicting the Prophet Mohammed. They ended with a siege at a kosher supermarket.

Seventeen people were killed and long-simmering tensions over secularism, Islamism and religious equality erupted into public view.

And now the Times of Israel reports that synagogues and Jewish schools are temporarily shutting down on fears another attack:

The Jewish community of Nice, France, is keeping its 15 synagogues and three schools closed and increasing security around kosher shops following the killing of three people in a church by a man shouting “God is great” in Arabic.

“We have decided to close all the schools tomorrow,” the chief rabbi of Nice, Franck-Daniel Teboul, told Israel’s Channel 13 Thursday. “The synagogues will also be closed. Kosher shops are on alert.”

“We’re all feeling threatened,” the rabbi said further.

end
FRANCE
Sunday: a priest is killed in Lyon as France is rocked by its 3rd terror attack this month
(ZEROHEDGE)

Priest Killed In Lyon As France Rocked By 3rd Terror Attack This Month

Another terror attack has apparently been carried out in France, the third in two weeks and fourth in 2 months, leaving a Greek Orthodox Priest dead.

The AFP reported that the priest was shot at a Greek Orthodox church in Lyon. He was shot with a sawed-off shotgun, according to reports, which means the attack was likely a gruesome scene.

The alleged perpetrator of the attack is on the run. France is already on its highest terror alert due to the two other terror attacks, which both involved knives, and one of which was also carried out in a church.

In a tweet sent minutes ago, the Ministry of the Interior warned citizens that an incident was underway in the 7th arrondissement in Lyon.

French President Emmanuel Macron reportedly infuriated Muslims around the world when he said he would defend the right to freedom of expression, including the right to show Charlie Hebdo cartoons of the Prophet Mohammad, a gesture that’s considered serious blasphemy by the Islamic faith. A decision to share the cartoons in class as part of a discussion on freedom of expression led to the decapitation of teacher Samuel Paty by an 18-year-old Chechen national.

A manhunt for the suspected terrorist is reportedly underway.

end

AUSTRIA

Seven dead including one police officer in Vienna as a Muslim blew himself up shouting Allah Akkbar.  Other perpetrators are on the run..

(zerohedge)

At Least 7 Killed In Terror Attack Near Vienna Synagogue

Update (1540ET): Austrian media now reporting seven dead, including one police officer, in Monday evening’s attack near a synagogue in Vienna.

More details to come…

* * *

A potential terror attack is currently underway in Vienna, where gunshots have been reported at a synagogue that stands as the epicenter of what remains of the city’s Jewish population.

The attack occurred near Schwedenplatz, a main square near the synagogue where a large police deployment was underway.

Another video of one of the gunmen up close was uploaded to twitter.

The attacker has reportedly blown himself up with an explosive belt. Additional “perpetrators” are said to be on the run according to reports in a local newspaper. The number of suspects wasn’t immediately clear. Police have asked Austrians to avoid the area in the city’s First District where the attack took place.

Police were cordoning off the area around the Rotensturmstrasse. According to reports, one officer was shot and is in serious condition.

“It sounded like a blast,” one eyewitness told the local press.

“Then you noticed that these were shots. Then you saw a person running down the Seitenstetten (who shot) wildly with an automatic weapon. He then turned down, at the (local) ‘Roter Engel’ from there in the direction of Schwedenplatz. He continued to shoot wildly there. Then the police came and fired. “

Eyewitnesses reported “at least 50 shots.” There were pictures of at least one injured person who was bleeding on the floor in front of a bar and was being cared for.The total number of casualties and deaths remains unclear, though one police officer is said to have been seriously wounded.

Spain

Rioting  on the streets of Spain

Robert email to me

Nueva noche de disturbios por las restricciones: altercados en Madrid, Bilbao, Má of Spainlaga, Barcelona… – Libertad Digital

Sadly, this is the Today’s reality of Spain and protests. The other day it was Florence.
People want their lives back, as perhaps not ideal, it is what they accepted without crazy lockdowns and useless mask wearing ( ever ask why Sweden refuses) all decreed by government going bankrupt in a hurry shattering the very financial base that allowed it, in the first place. The difficulty is that the road back is gone and a new road will have to be created out of the mess, that is growing weekly.
As I wrote yesterday, Johnson is locking down England again, even though 1/4 or more of the Shops in London have already hit the wall. And I fully expect Christmas will be cancelled. He has cast away the big opportunity to have stayed open and gained at Europe’s closure decision. The question is will he cave in on Brexit? Expect protests and city riots with rising crime.
Each forced lockdown causes further and greater damage to a weakened economy bringing it to halt. It is a classical way to damage a economy by reintroduced lockdowns, each caused wider damage and a faltering of hope and willpower to fight back when the economy reopens. Thus, making any hope of a recovery distant and elusive. Recoveries do not occur by a flip of a switch. As the supply chains that allow normal activity get broken and it takes  capital and confidence and time to rebuild. 
Canada is not much better as not only have lockdowns taken their toll with more cost to come. Toronto is coming face to face with a condo bust that will have deep and widespread repercussions. The idea that 30% of all available high rise cranes in North America can be working at the same time without producing a bust is some kind of demented nightmare. Although, one does question the logic of lenders who allowed this. To not have a bust, Toronto would have needed a equal influx of financially able people to soak up the build of units, which frankly is not possible and has never happened. This syndrome of build til you bust, has occurred in many a city over time. It is just irony that both buyers and banks do not learn from such past events, to recognize them when they occur until pain is inflicted. The bust in the condo market in downtown Toronto will take years to unfold fully and Many more years to plateau to a recovery. The pinnacle of loss will hit sometime mid to late next year flushing many a person and their dreams.
While it is certain, that protests will grow everywhere, it remains that the world’s best hope for a timed recovery, will be a rebuilding of America back into a consumer nation leading the world out of the remorse of the “great reset” which will fail leaving broken economies and damaged societies. Whether, current national borders survive this evolution remains very cloudy at best. Especially as the true cost is yet to be visible but the regional disparities are becoming greater, magnified by the reset attempt. The byproduct will be hardship in food supplies, especially in Europe where supply chains started to break down this past spring. There will be food riots starting next year as the lower rungs of society see prices rise next spring and find themselves unable to afford them. And the promise of universal income seems like a mirage with a empty financial chest.
And it will not be until the first quarter of next year that we see Serious weekly loss of jobs as the toll of lockdowns comes a calling with deepening bank losses as businesses fail and consumers default. And while in past this was localized by overbuilding in places like Spain, it will be far wider and more destructive.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

Palestinians/Turkey

The Palestinians held a day of rage following Erdogan’s claims that Europe wants to relaunch the Crusades.

(zerohedge)

Palestinians Held ‘Day Of Rage’ As Erdogan Claims Europe “Wants To Relaunch Crusades”

Turkey’s President Recep Tayyip Erdoğan has done his best to stoke religious tensions related to Charlie Hebdo cartoons which mock Islam’s founder Muhammad, especially after recent terror attacks in France were condemned by Macron as “Islamist terrorism”. Macron had further said Islam is “in crisis” after clearly Islamic-inspired killings have left multiple people dead and wounded this month – the latest being the shooting of a Greek Orthodox priest in Lyon who was left with life-threatening injuries.

Earlier this week Erdogan likened it to Europe wanting to relaunch the crusades” and that hatred of Islam is “spreading like a cancer”. He had told his ruling Justice and Development (AK) Party’s parliamentary group: “Unfortunately, we are going through a period in which the hostility towards Islam, Muslims and disrespect to the Prophet Muhammad is spreading like cancer, especially among the leaders in Europe,” according to Turkish media.

Protests have continued in various Mideast cities, via The Guardian

Mass protests popped up across capitals in the Middle East from Pakistan to Afghanistan to Lebanon, often in front of the local French embassy.

Unrest was especially seen in Jerusalem and the Gaza Strip on Friday after an influential cleric who heads to Palestinian Islamic Supreme Council, Sheikh Ikrima Sabri, earlier called for a “day of rage” against France and Europe’s “attempts to harm” the prophet Muhammad.

The cleric is a main preacher at al-Aqsa Mosque and told followers to “reject the offensive drawings of the Prophet Muhammad” and further to “express their rejection of these uncivilized transgressions.” He said the “offensive cartoons contradict freedom of speech and expression” and are intended to ridicule and insult Islam.

Via AP

On Friday there were clashes with police in Jerusalem, but the protests don’t appear to have spread as widely throughout Palestinian territories as was intended. The Associated Press detailed the “day of rage” as follows:

Hundreds of Palestinians also protested against Macron outside the Al-Aqsa Mosque in Jerusalem, the third holiest site in Islam, chanting, “With our souls and with our blood we sacrifice for our prophet, Muhammad.” Some youths scuffled with Israeli police as they exited the esplanade into the Old City. Israeli police said they dispersed the gathering and detained three people.

Scores more turned out in the Gaza Strip, where the militant Hamas group organized anti-France rallies at mosques across the territory that it controls.

Fathi Hammad, a Hamas official, addressed a demonstration at the Jabaliya refugee camp, vowing “to stand together to confront this criminal offensive that harms the faith of about two billion Muslims,” referring to depictions of the Muslim prophet. He reiterated Hamas authorities’ appeal for Palestinians to boycott all French products.

Meanwhile France continues to be in a high state of alert, with security forces on the lookout for more terror attacks amid the tension which seem a repeat of the 2015 Charlie Hebdo massacre.

end
Turkish Ultra Nationalist “Grey Wolves” Christian Armenians/ /France
France has had  enough!! He has just banned Turkish ultra nationalist “Grey Wolves” from France as they are targeting Armenians.
(zerohedge)

France Bans Turkish Ultra-Nationalist ‘Grey Wolves’ Group After Mobs Target Armenians

The French government on Monday announced a ban on the Turkish ultra-nationalist ‘Grey Wolves’ group – the latest in the ongoing tit-for-tat feud between Paris and Ankara which was triggered after last month’s two terrorist attacks involving gruesome beheadings and knife attacks on French citicens.

French Minister of Interior Gérald Darmanin made the official statement banning the ultra-nationalist group, according to the AFP. Darmanin called the group “particularly aggressive” and said the law banning it would be submitted to the French Cabinet on Wednesday.

A prior Grey Wolves rally in Germany.

It comes after days ago the Grey Wolves were reportedly behind marches in two French towns where largely Turkish mobs declared they were “looking for Armenians”. Some media headlines emphasized the Turkish nationalists were “hunting” for Armenians in connection with tensions related to the ongoing war in Nagorno-Karabakh.

Vice News, for example, wrote the following of last week’s events:

A French anti-racism group and an organization representing France’s Armenian community said what they called the “hunt for Armenians” was orchestrated by the Grey Wolves, a militant Turkish ultranationalist group which is active in Western Europe and banned in a number of countries, including Austria. Footage of the marches, which took place on Wednesday night, was circulated on Twitter accounts featuring wolf emojis and references to the Turkish name of the ultranationalist organisation, Bozkurtlar.

Also over the weekend it was revealed that the Armenian Genocide Memorial and the National Armenian Memorial Centre in Décines, France were defaced with yellow spray paint, including pro-Grey Wolves messages.

A statement last Thursday from the Coordination Council of Armenian Organizations (CCAF) in France urged the French government to outlaw the Grey Wolves, citing the safety of minority ethnicities in France.

“French people of Armenian origin must be able to live in France in safety, without being targeted by acts of violence and racial hatred,” the CCAF said in a statement.

Turkish media has noted prior occasions where Erdogan was seen giving the hand sign used among the Grey Wolves, via Ahval

The ban will be sure to outrage Ankara given Turkish President Erdogan is seen as sympathetic to the group, which is very active in Turkey.

Erdogan has in the past surprised onlookers by making the Grey Wolves hand sign at political rallies. Its leaders routinely make statements in praise of genocide against all non-Turkish people groups living in Turkey, and are widely accused of carrying out political killings.

END

6.Global Issues

CORONAVIRUS/UPDATE//SATURDAY

NY Introduces Mandatory 3-Day Quarantine; US Marks New Global COVID-19 Record: Live Updates

Summary:

  • NY Gov announces new quarantine rules
  • BoJo weighs one-month lockdown
  • US reports record new cases
  • North Dakota worst-hit state
  • New cases in Iran fall
  • China reports 33 new cases
  • Poland reports 21k new cases
  • Brazil strikes deal to buy Chinese vaccine

* * *

Update (1200ET): New York Gov Andrew Cuomo has just shared NY’s latest COVID-19 stats, and also announced a confusing new policy for people traveling to the Empire State the requires them to be tested twice (once before and once after arriving) if they want to avoid the whole 2 week quarantine. However, every new arrival will still need to quarantine for three days after arriving in the state, regardless of whether they are on the state’s travel warning list.

NY reported another 2,049 new cases on Saturday.

The state’s positivity rate in its “cluster zones” however, was 2x as high at 3%.

Notably, the new rule announced by Cuomo on Saturday morning doesn’t apply to neighboring states or people who commute into the city every day. Enforcement, Cuomo said, will be carried out by local health departments.

He added that the rule was intended to try and avoid a surge in cases from the Thanksgiving holiday. “People are going to travel for Thanksgiving. We’re having issues with small gatherings, which is almost a psychological issue,” Cuomo said.

* * *

As countries across Europe continue to step up COVID-19-related restrictions (most recently, Belgium announced what might be the Continent’s most restrictive lockdown  since the start of the second wave), UK Prime Minister Boris  Johnson is reportedly considering a month-long national lockdown across England, which would start next week.

According to British press reports, Johnson will meet with his top advisors and government officials on Saturday to discuss the pros and cons of such an arrangement. The return to restrictions in accordance with the country’s 3-tiered system has already inspired significant public anger, particularly in the Greater Manchester area and other pockets facing Tier 3 – ie the most restrictive – rules.

Hospitalizations have surged across the UK, while deaths have started to creep higher. Though it trails Spain and France in overall cases, the UK is on the verge of crossing the million-case mark. After reporting another 24,418 cases, yesterday, the UK has a total of 992,878.

Across the pond, the situation wasn’t much better. The US reported 99,325 new cases Friday, the most for any country in a single day as infections and hospitalizations surged in the runup to Tuesday’s election. The total number of cases in the country exceeded 9 million. North Dakota continues to show the highest rate per 100,000 residents, though its overall numbers are still relatively low compared to its low population. The state reported 1,357 new confirmed cases of COVID-19 on Friday, eclipsing the record set one day earlier by 135 cases. Total deaths, meanwhile eclipsed the 500 mark with 13 new deaths reported Friday.

Source: mSightly

As we reported yesterday, the US passed the 9 million case mark yesterday after reporting a record 99,321 new cases, according to Johns Hopkins.

As we head into the weekend, here’s some more news from Saturday morning and overnight:

With the U.S. reporting almost 100,000 new cases on Friday just days ahead of the election, North Dakota led the increase in infections with a 6.8% rise in cases to almost 43,916, according to data compiled by Johns Hopkins University and Bloomberg. Wyoming, South Dakota, Montana and Missouri had the next-biggest increases, ranging from 4.2% to 3.1%. Colorado, Kansas and Wisconsin all showed 2.4% increases. Texas reported the most new deaths at 109 (Source: Bloomberg).

The number of new infections in Iran fell for a second day to 7,820 after reaching a record on Thursday. The Health Ministry reported 386 more deaths from Covid-19 overnight, taking the total to 34,864. The country’s national coronavirus taskforce announced a series of closures across Tehran and two dozen other major cities (Source: Bloomberg).

Greece is taking further steps to contain the spread of the coronavirus after a surge this week saw daily cases surpass 1,000 for the first time since March. The country will be divided into two zones — high risk and under surveillance — with northern Greece and the capital, Athens, and its region in the first category. “We must act now before intensive care units bend under the weight of endangered lives,” Prime Minister Kyriakos Mitsotakis said (Source: Bloomberg).

Belgium reported 1,105 patients in intensive care units on Saturday, up 48 from the previous day and near the peak reached during the first wave of the outbreak. The nation of 11 million people, which hosts the European Union’s main institutions and the North Atlantic Treaty Organization, announced a lockdown Friday amid fears that its healthcare system could be overwhelmed (Source: Bloomberg).

Infections in Poland increased by 21,897 on Friday, and deaths rose by 280 to 5,631, according to the Health Ministry. More than 500,000 people are in quarantine in the country. The increases come after government employees were ordered to work from home for two weeks, with private companies also encouraged to send staff home (Source: Bloomberg).

Mainland China reports 33 new COVID-19 cases on Oct. 30, up from 25 a day earlier, the country’s national health authority said on Saturday (Source: Nikkei).

A “politically intoxicated” environment makes it difficult to probe the origins of the new coronavirus first identified in Wuhan, says the World Health Organization’s top emergency expert, Mike Ryan (Source: Nikkei) .

Brazil’s government will “of course” buy a Chinese COVID-19 vaccine that is being tested in the country, Vice President Hamilton Mourao said on Friday, in the latest example of him contradicting President Jair Bolsonaro (Source: Nikkei).

end
One of the world’s top epidemiologistDr Gupta is intimidated and shamed with her thoughts that lockdowns are wrong
(zerohedge)

Anti-Lockdown Epidemiologist Intimidated, Shamed By Contagion Of Hatred And Hysteria

Authored by Professor Sunetra Gupta, op-ed via The Daily Mail,

Lockdown is a blunt, indiscriminate policy that forces the poorest and most vulnerable people to bear the brunt of the fight against coronavirus. As an infectious diseases epidemiologist, I believe there has to be a better way. 

That is why, earlier this month, with two other international scientists, I co-authored a proposal for an alternative approach — one that shields those most at risk while enabling the rest of the population to resume their ordinary lives to some extent.

I expected debate and disagreement about our ideas, published as the Great Barrington Declaration.

As a scientist, I would welcome that. After all, science progresses through its ideas and counter-ideas.

But I was utterly unprepared for the onslaught of insults, personal criticism, intimidation and threats that met our proposal. The level of vitriol and hostility, not just from members of the public online but from journalists and academics, has horrified me.

I am not a politician. The hurly-burly of political life and being in the eye of the media do not appeal to me at all.

I am first and foremost a scientist; one who is far more comfortable sitting in my office or laboratory than in front of a television camera.

Of course, I do have deeply held political ideals — ones that I would describe as inherently Left-wing. I would not, it is fair to say, normally align myself with the Daily Mail.

I have strong views about the distribution of wealth, about the importance of the Welfare State, about the need for publicly owned utilities and government investment in nationalised industries.

But Covid-19 is not a political phenomenon. It is a public health issue — indeed, it is one so serious that the response to it has already led to a humanitarian crisis. So I have been aghast to see a political rift open up, with outright abuse meted out to those who, like me, question the orthodoxy.

At the heart of our proposal is the recognition that mass lockdowns cause enormous damage.

We are already seeing how current lockdown policies are producing devastating effects on short and long-term public health.

The results — to name just a few — include lower childhood vaccination rates, worsening cardiovascular disease outcomes, fewer cancer screenings and deteriorating mental health.

Such pitfalls of national lockdowns must not be ignored, especially when it is the working class and younger members of society who carry the heaviest burden.

I was also deeply concerned that lockdowns only delay the inevitable spread of the virus. Indeed, we believe that a better way forward would be to target protective measures at specific vulnerable groups, such as the elderly in care homes.

Of course, there will be challenges, such as where people are being cared for in their own multi-generational family homes.

I am certainly not pretending I have all the answers, but these issues need to be discussed and thrashed out thoroughly.

That is why I have found it so frustrating how, in recent weeks, proponents of lockdown policies have seemed intent on shutting down debate rather than promoting reasoned discussion.

It is perplexing to me that so many refuse even to consider the potential benefits of allowing non-vulnerable citizens, such as the young, to go about their lives and risk infection, when in doing so they would build up herd immunity and thereby protect the lives of vulnerable citizens.

Yet rather than engage in serious, rational discussion with us, our critics have dismissed our ideas as ‘pixie dust’ and ‘wishful thinking’.

This refusal to cherish the value of the scientific method strikes at the heart of everything I, as a scientist, hold dear. To me, the reasoned exchange of ideas is the basis of civilised society.

So I was left stunned after being invited on to a mid-morning radio programme recently, only for a producer to warn me minutes before we went on air that I was not to mention the Great Barrington Declaration. The producer repeated the warning and indicated that this was an instruction from a senior broadcasting executive.

I demanded an explanation and, with seconds to go, was told that the public wouldn’t be familiar with the meaning of the phrase ‘Great Barrington Declaration’.

And this was not an isolated experience. A few days later, another national radio station approached my office to set up an interview, then withdrew the invitation. They felt, on reflection, that giving airtime to me would ‘not be in the national interest’.

But the Great Barrington Declaration represents a heartfelt attempt by a group of academics with decades of experience in this field to limit the harm of lockdown. I cannot conceive how anyone can construe this as ‘against the national interest’.

Moreover, matters certainly are not helped by outlets such as The Guardian, which has repeatedly published opinion pieces making factually incorrect and scientifically flawed statements, as well as borderline defamatory comments about me, while refusing to give our side of the debate an opportunity to present our view.

I am surprised, given the importance of the issues at stake — not least the principle of fair, balanced journalism — that The Guardian would not want to present all the evidence to its readers. After all, how else are we to encourage proper, frank debate about the science?

On social media, meanwhile, much of the discourse has lacked any decorum whatsoever.

I have all but stopped using Twitter, but I am aware that a number of academics have taken to using it to make personal attacks on my character, while my work is dismissed as ‘pseudo- science’. Depressingly, our critics have also taken to ridiculing the Great Barrington Declaration as ‘fringe’ and ‘dangerous’.

But ‘fringe’ is a ridiculous word, implying that only mainstream science matters. If that were the case, science would stagnate. And dismissing us as ‘dangerous’ is equally unhelpful, not least because it is an inflammatory, emotional term charged with implications of irresponsibility. When it is hurled around by people with influence, it becomes toxic.

But this pandemic is an international crisis. To shut down the discussion with abuse and smears — that is truly dangerous.

Yet of all the criticisms flung at us, the one I find most upsetting is the accusation that we are indulging in ‘policy-based evidence-making’ — in other words, drumming up facts to fit our ideological agenda.

And that ideology, according to some, is one of Right-wing libertarian extremism.

According to Wikipedia, for instance, the Great Barrington Declaration was funded by a Right-wing think-tank with links to climate-change deniers.

It should be obvious to anyone that writing a short proposal and posting it on a website requires no great financing. But let me spell it out, since, apparently, I have to: I did not accept payment to co-author the Great Barrington Declaration.

Money has never been the motivation in my career. It hurts me profoundly that anyone who knows me, or has even a passing professional acquaintance, could believe for a minute that I would accept a clandestine payment for anything.

I am very fortunate to have a house and garden I love, and I couldn’t ask for more material wealth than that. Far more important to me are my family and my work. Yet the abuse continues to flood in, increasingly of a personal nature.

I have been accused of not having the right expertise, of being a ‘theoretical’ epidemiologist with her head in the clouds. In fact, within my research group, we have a thriving laboratory that was one of the first to develop an antibody test for the coronavirus.

We were able to do so because we have been working for the past six years on a flu vaccine, using a combination of laboratory and theoretical techniques. Our technology has already been patented and licensed and presents a rare example of a mathematical model leading to the development of a vaccine.

Even more encouraging, however, is that there is now a groundswell of movements — Us For Them, PanData19 and The Price of Panic, to name but three — seeking to give a voice to those, like me, who believe that the collateral damage of lockdown can be worse than the virus itself.

I am delighted that it has received such a level of support.

For, ultimately, lockdown is a luxury of the affluent; something that can be afforded only in wealthy countries — and even then, only by the better-off households in those countries.

One way to go about shifting our perspective would be to catalogue all the ways in which lockdowns across the world are damaging societies. At present, I am collaborating with a number of colleagues to do just this, under the banner www.collateralglobal.org.

For the simple truth is that Covid-19 will not just go away if we continue to impose enough meaningless restrictions on ourselves. And the longer we fail to recognise this, the worse will be the permanent economic damage — the brunt of which, again, will be borne by the disadvantaged and the young.

When I signed the Great Barrington Declaration on October 4, I did so with fellow scientists to express our view that national lockdowns won’t cure us of Covid.

Clearly, none of us anticipated such a vitriolic response.

The abuse that has followed has been nothing short of shameful.

But rest assured. Whatever they throw at us, it won’t do anything to sway me — or my colleagues — from the principles that sit behind what we wrote.

* * *

Professor Sunetra Gupta is an infectious disease epidemiologist and a professor of theoretical epidemiology at the Department of Zoology, University of Oxford.

end
CORONAVIRUS UPDATE/MONDAY

Global COVID-19 Deaths Top 1.2 Million After Worst Week Since April: Live Updates

Summary:

  • Italian PM lays out new restrictions
  • CureVac vaccine shows positive response in early trial
  • Dr. Tedros self-isolates
  • Deaths top 1.2 million
  • Sunak says England lockdown could be extended
  • South  Korea confirms 97 new cases
  • China reports 24 cases
  • India reports 45,231 new cases as outbreak continues to slow

* * *

As of Monday morning, global deaths tied to COVID-19 have topped 1.2 million after the deadliest week for the virus since April, according to data from Johns Hopkins. The number of new cases reported daily has doubled over the past five weeks, as England has joined Belgium, France, Germany and others in enacting new lockdown measures.

Deaths climbed by 4,895 yesterday, bringing the global total to 1,201,833. Cases,  meanwhile, climbed to 46,618,804.

Ironically, Dr. Tedros, the head of the WHO, has entered self-quarantine after coming into contact with somebody said to be COVID-19 positive.

On Monday morning, Italian PM Giuseppe Conte announced a tiered system of COVID-9 restrictions reminiscent of the prior UK regime, and the Spanish state of emergency. Shopping malls will close on weekends nationwide, econadry schools will be shut as students return to online lessons.

Additional restrictions will be added based on regional needs.

Another big story Monday morning pertains to an announcement from CureVac, which said its product showed a “good immune response” comparable to that found in recovered patients in an early-stage test on more than 250 to volunteers. The best response was seen using the strongest dose of the vaccine.

According to Bloomberg, the research validates 20 years of the tiny biotech company’s research into mRNA vaccines.

Speaking to the press on Sunday one day after PM Boris Johnson enacted a one-month lockdown, Rishi Sunak, the Chancellor of the Exchequer, said that while the lockdown in England is currently slated to expire on Dec. 2, the administration could extend the new emergency measures, threatening the Christmas Holiday. However, “the firm hope and expectation” is that it will end on Dec. 2.

Asked by the BBC if these measures would result in the cancellation of Christmas, Sunak said “I appreciate everyone’s frustration,” he said. “Our hope and expectation is these measures will be sufficient to bring the R rate back to where we need it to be.”

Sunak also promised to increase support for the self-employed during the lockdown that will begin later this week. Sunak appeared to dispel rumors that he had opposed the lockdown.

Speaking on CNBC Monday morning, the CEO of Ryanair criticized the new lockdown measures in England, saying it only highlights how ineffective the first round of lockdowns were.

The only way to suppress the virus is to implement mass testing, Michael O’Leary, Ryanair CEO, said, adding that the failure of global governments to implement mass testing has been staggering. United Airlines recentyl announced that it would implement mandatory on-sight testing before long-haul flights. O’Leary went on to explain that one problem is the PCR tests are labor-intensive and time consuming, while the antigen tests, are much easier and more expedient; the only problem is governments don’t recognize the rapid tests as sufficiently accurate. Some experts have argued that this is a mistake, and that mass testing would quickly make up for any lapses in accuracy, as positive individuals would inevitably be uncovered by multiple tests.

Here are some more COVID-19 stories from overnight and Monday morning:

India reports 45,231 new cases for the past 24 hours, down from 46,963 the previous day, bringing the country tally to 8.23 million. The death toll jumped by 496 to 122,607 (Source: Nikkei).

Public viewing of tuna auctions at Tokyo’s Toyosu fish market resumes after an eight-month hiatus. Eighteen visitors selected by lottery in advance gathered at the market in the early morning and watched from a deck as dealers wearing masks took part in the bidding (Source: Nikkei).

New York Governor Cuomo said New York is setting protocols to permit children in virus hot zones to attend school in which the protocol for cluster schools would require testing and children would need to test negative to return to school, while it was separately reported that San Francisco is to temporarily pause reopening amid a rise in cases. (Newswires)

South Korea confirms 97 new cases, down from 124 a day ago. Total infections reach 26,732 with 468 deaths (Source: Nikkei).

China reports 24 cases for Sunday, the same as a day earlier, with 21 being imported and three in the Xinjiang region (Source: Nikkei).

Iran reported a record number of daily virus-related deaths for a second day in a row at 440, bringing the total to 35,738. The number of cases reached 628,780 with 8,289 new infections in the past 24 hours, just below the record reported last week (Source: Bloomberg).

end

7. OIL ISSUES

CRUDE OIL PRICES CRASH

end

8 EMERGING MARKET ISSUES

BRAZIL/CORONAVIRUS//MONDAY//UPDATE

“We’re Not Guinea Pigs!” – Brazilians Protest São Paulo Governor’s Mandatory Vaccination Push

Western media outlets like the NYT would have their readers believe that Brazilian President Jair Bolsonaro is a madman reviled by his own people, while attributing his historic electorial victory to some kind of fluke, or (even worse) judicial ‘meddling’ to keep corrupt ex-president Lula from winning another term.

The reality, of course, is that Bolsonaro, like President Trump, has a devoted core following who would back him over virtually any challenger. And despite all those reports about Brazil’s ‘collapsing’ health-care system, more than 300 demonstrators gathered on the main commercial throughway in São Paulo to protest State Governor João Doria’s push for mandatory vaccinations using a vaccine developed by China’s Sinovac.

The governor has previously backed making immunizations mandatory once vaccines are available to all. The chief justice of Brazil’s Supreme Court has said the court will ultimately decide on the issue, though, as Reuters pointed out, a number of vaccines are already obligatory in Brazil, including Hepatitis B, which is given to every newborn.

Tens of thousands of residents in the city have already received the Sinovac vaccine as the company continues with Stage 3 trials in the area. The program seemed to have infuriated the protesters, as they waved signs claiming “we’re not guinea pigs!” Reuters reported that the “tightly packed” protesters,

“We’re against the authoritarian Chinese ambassador João Doria, who would now make the vaccine compulsory against our wishes,” protestor Andre Petros said.

“This doesn’t happen anywhere in the world, not even in China.”

Brazil has the third-largest outbreak in the world, with 5.5 million confirmed cases.

Brazil’s federal health ministry announced last month it would buy 46 million doses of the vaccine, contingent on regulatory approval, in a deal supported by state governors. But a day later right-wing President Jair Bolsonaro said that Brazil would not buy the vaccine.

The Brazilian federal health ministry announced last month it would buy 46 million doses of the vaccine, contingent on regulatory approval, in a deal supported by state governors, but one day later, Bolsonaro stepped up to trash the deal.

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

Euro/USA 1.1645 UP .0005 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/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /GREEN

USA/JAPAN YEN 104.63 UP 0.111 (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 1.2928   UP   0.0023  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3290 DOWN .0020 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  MONDAY morning in Europe, the Euro ROSE BY 5 basis points, trading now ABOVE the important 1.08 level RISING to 1.1645 Last night Shanghai COMPOSITE UP 0.59 PTS OR .02% 

//Hang Sang CLOSED UP 352.59 PTS OR 1.46% 

/AUSTRALIA CLOSED UP 0.23%// EUROPEAN BOURSES ALL GREEN

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 352.59 PTS OR 1.46% 

/SHANGHAI CLOSED UP 0.59 POINTS OR .02% 

Australia BOURSE CLOSED UP 0.23% 

Nikkei (Japan) CLOSED UP 318.35  POINTS OR 1.39%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1888.30

silver:$24.00-

Early MONDAY morning USA 10 year bond yield: 0.858% !!! DOWN 2 IN POINTS from FRIDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.646 DOWN 2  IN BASIS POINTS from FRIDAY night.

USA dollar index early MONDAY morning: 94.02 DOWN 2 CENT(S) from  THURSDAY’s close.

This ends early morning numbers MONDAY MORNING

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And now your closing  MONDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.10% DOWN 1 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.05.%  UP 1   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.13%//DOWN 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.72 DOWN 1 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 59 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.64% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.36% 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 MONDAY

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

Euro/USA 1.1632  DOWN     .0009 or 9 basis points

USA/Japan: 104.80 UP .250 OR YEN DOWN 25  basis points/

Great Britain/USA 1.2899 DOWN .0006 POUND DOWN 6  BASIS POINTS)

Canadian dollar UP 55 basis points to 1.3256

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The USA/Yuan,  CNY: closed UP AT 6.6915     ON SHORE  (UP)..

THE USA/YUAN OFFSHORE:  6.6922  (YUAN up)..

TURKISH LIRA:  8.4240  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.05%

Your closing 10 yr US bond yield DOWN 4 IN basis points from FRIDAY at 0.838 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.622 DOWN 4 in basis points on the day

Your closing USA dollar index, 94.16 UP 12  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 MONDAY: 12:00 PM

London: CLOSED UP 33.73  1.07%

German Dax :  CLOSED UP 231.80 POINTS OR 2.01%

Paris Cac CLOSED UP 96.90.84 POINTS 2.11%

Spain IBEX CLOSED UP 132.10 POINTS or 2.05%

Italian MIB: CLOSED UP 456.92 POINTS OR 2.55%

WTI Oil price; 36.04 12:00  PM  EST

Brent Oil: 38.28 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    80.57  THE CROSS HIGHER BY 1.17 RUBLES/DOLLAR (RUBLE LOWER BY 117 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.64 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 f0r Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OILPRICE 4:30 PM :  37.02//

BRENT :  39.33

USA 10 YR BOND YIELD: … 0.859..down 2 basis points…

USA 30 YR BOND YIELD: 1.637 down  2 basis points..

EURO/USA 1.1639 ( DOWN 8   BASIS POINTS)

USA/JAPANESE YEN:104.79 UP .229 (YEN DOWN 23 BASIS POINTS/..

USA DOLLAR INDEX: 94.09 UP 5 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.2917 UP 11  POINTS

the Turkish lira close: 8.4393.. a basket case !!

the Russian rouble 80.53   DOWN 1.12 Roubles against the uSA dollar. (DOWN 112 BASIS POINTS)

Canadian dollar:  1.3226 UP 86 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.64%

The Dow closed UP 422.86 POINTS OR 1.60%

NASDAQ closed UP 46.02 POINTS OR 0.42%


VOLATILITY INDEX:  37.70 CLOSED DOWN .32

LIBOR 3 MONTH DURATION: 0.215%//libor dropping like a stone

USA trading today in Graph Form

Despite Tech Tumble; Stocks, Bonds, Gold, & The Dollar Rally On Election Eve

As Asia closed and Europe opened, US equity futures were panic bid up 400-plus Dow points overnight, clung to gains into the US cash open when Nasdaq was dumped and Small Caps pumped along with The Dow. Last minute buying panics ramped Nasdaq barely into the green…

Weakness in Nasdaq was driven by the mega-tech names with AMZN taking a good hit…

Source: Bloomberg

Brace yourself for some vol in the next 24 hours…

All the major US indices are at critical technical levels ahead of the election night malarkey…

And equity risk remains very rich relative to credit risk…

Source: Bloomberg

Value stocks were bid today…

Source: Bloomberg

Despite broad stock market gains, bonds were also bid with the long-end outperforming…

Source: Bloomberg

The dollar rallied for the 4th straight day back to its strongest since early October…

Source: Bloomberg

Bitcoin was dumped overnight when stocks ramped but has been bid back in the last few hours…

Source: Bloomberg

Gold was bid, despite USD gains, pushing back up towards $1900…

As did Silver…

Oil prices exploded higher after crashing to a $33 handle overnight. The rebound was catalyzed by Russia comments on OPEC+ output cuts…

Finally, all eyes on Pennsylvania…

Source: Bloomberg

What’s the worst that could happen?

Source: Bloomberg

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//THIS AFTERNOON

Nasdaq Tumbles Into Red, Erases Overnight Gains, Bonds Bid

A lack of comprehension at the overnight panic-bid has been complemented by a lack of comprehension for the down-draft in Nasdaq since the US equity market opened.

Small Caps were outperforming out of the gate relative to mega-cap tech but the entire market is rolling over now…

Bonds were bid all night, ignoring equity’s exuberance…

With vol so high, it should be no surprise that stocks are fading the uncertainty…

ii)Market data/USA

US Manufacturing Surveys Soar In October To 2-Year Highs

Following Europe’s continued Manufacturing PMI rebound, US manufacturing was expected to have stabilized at September’s  levels through October.

  • October US Manufacturing ISM BEAT 59.3 – vs 56.0 exp vs 55.4 prior
  • October US Manufacturing PMI BEAT – 53.4 vs 53.3 exp vs 53.2 prior

That is the highest Manufacturing PMI since Jan 2019, and highest ISM Manufacturing since Aug 2018, and these improvements happen as US macro data is serially disappointing…

Source: Bloomberg

Although domestic demand ticked higher, Markit reports that new export orders fell for the first time since July.

However, under the ISM hood, export orders improved…

And overall new orders rose at their fastest pace since Jan 2004…

Source: Bloomberg

And ISM respondents are a lot more positive than the mainstream media suggests…

Chris Williamson, Chief Business Economist at IHS Markit said:

“With clues being sought as to whether the economy can sustain its recovery after rebounding from lockdowns, the rise in the PMI in October is encouraging news. It’s inevitable that the pace of economic expansion will weaken after the surge seen in the third quarter, but the strength of the PMI hints at a recovery for which the underlying trend continues to strengthen at the start of the fourth quarter.

“Producers of investment goods such as business equipment and machinery are leading the upturn in a welcome sign of rising business confidence and corporate investment, but it was worrying to see consumer goods producers report weakened order book growth, reflecting rising virus-related worries. Going forward, much will naturally depend on the extent to which the economy can remain open and functioning in the face of rising virus case numbers.”

Finally, in case you agreed with government data that there’s no inflation…

Maybe tap the brakes Mr.Powell?

iii) Important USA Economic Stories

Saturday:  Biden advisers sound the red alert over huge Black and Latino turnouts  (mail in balloting etc)

Biden Advisers Sound Red Alert Over Black, Latino Turnout

Senior Biden campaign officials are ‘becoming increasingly worried’ over low turnout among black and latino voters in key states such as Pennsylvania and Florida, according to Bloomberg, citing people familiar with the matter.

Despite record early-vote turnout around the country, there are warning signs for Biden. In Arizona, two-thirds of Latino registered voters have not yet cast a ballot. In Florida, half of Latino and Black registered voters have not yet voted but more than half of White voters have cast ballots, according to data from Catalist, a Democratic data firm. In Pennsylvania, nearly 75% of registered Black voters have not yet voted, the data shows. –Bloomberg

“I would like to see turnout increase – and yes, we need improvement,” said Biden super PAC president, Steve Schale in a Tuesday blog post.

According to the report, top campaign leaders are confident that blacks and latinos will show up on election day, however some Biden advisers have expressed concerns about a lack of participation – and are urging the campaign to spend more money to target minority voters in the final stretch.

Perhaps minorities found out that Biden didn’t want to raise his children in a racial jungle when he opposed desegregation?

Or that he drafted the 1994 crime bill, which sent tens of thousands of black men to prison for minor crimes, something Biden was proud of as recently as four years ago.

Or that Biden said blacks ‘aren’t black if they don’t vote for him.

Or that his ‘guide and mentor’ was an ‘Exalted Cyclops’ in the KKK (who renounced his racist ways when it became a political liability he saw the light.)

Or that he equates being poor to being black.

Or that rapper 20 cent endorsed Trump (until his ex-girlfriend Chelsea Handler yanked his leash), while Lil’ Wayne, Kanye and Ice Cube have thrown their support behind Trump, or at least a new ‘platinum plan’ intended to help the black community.

Biden campaign spokeswoman Symone Sanders (who mocked a white Trump supporterwho was beaten in Chicago, and is apparently OK with all of the above) –  says Bloomberg’s sources are trippin’.

No campaign in American history has devoted this level of resources that we have to outreach to voters of color, and we’re deeply proud of it,” said Sanders, adding “In community-specific advertising alone, we’ve dedicated tens of millions of dollars to each community, with a total into 9 figures. And we’ve committed tens of millions on in-person GOTV programs unique to communities of color. Earning the support of diverse voters is the beating heart of our operation. We’re also the most diverse general election campaign in American history, including at senior levels, and all of our strategic decisions are driven by our diverse leadership team.”

The anonymous advisers, however, fear the Biden campaign has become overconfident – especially after weak turnout among people of color for Hillary Clinton in 2016, and she had hot-sauce on her side.

END
Rental markets are crashing and that could set off the next housing crisis
(zerohedge)

The Crashing Rental Market Could Set Off The Next Housing Crisis

We have extensively followed the collapse in rental prices since the beginning of the pandemic here on Zero Hedge (for examples, look here  and here and here). In addition to prices collapsing, some tenants affected by the lockdowns have simply decided they no longer want to pay rent and are stiffing their landlords with little consequences.

There’s not doubt that many renters – including many businesses – don’t have the means they once did to pay their rents.

And though we knew the fall in prices was likely to get worse before it got better, the Wall Street Journal is taking it one step further and now asking the question of whether or not the rental price plunge could actually set off the next housing crisis.

Another question also remains: how bad will the eviction scene be when the protections against eviction put into place by federal and local government expire? It is estimated that such moratoriums may wear off by January 2021, or even sooner. At that point, renters will need to pay up for the months they’ve missed.

The Federal Reserve Bank of Philadelphia released a study of unemployed workers last week that estimated outstanding rent debt could reach $7.2 billion before the end of 2020. Moody’s has estimated that it could reach an astounding $70 billion if there is no further stimulus.

Moody’s estimates that 12.8 million Americans would owe an average of $5,400 from missed rent payments. 

Though the $70 billion pales in comparison to the $1.3 trillion that set off the subprime mortgage crisis, the 12.8 million Americans affected far surpasses the 3.8 million people who were foreclosed on during the housing crisis. At the same time, housing prices are actually rising as a wave of owners move from the city to the suburbs.

However about 25% of renter households that have children are now on the hook for back rent. Women and people of color are disproportionately more likely to owe back rent while black and Latino Californians are twice as likely to face rent insecurity than white Californians, according to the U.S. Census.

The debt could be enough to stifle a recovery coming out of the pandemic, the WSJ notes. Mark Zandi, Moody’s chief economist, said: “These households will have to make some pretty massive financial choices and pull back on other spending to pay their rent. That’s a hit to the economy.”

During the beginning of the pandemic, many households made a shift to credit cards to try and stay afloat. The Philadelphia Federal Reserve noted that “credit payments to small and medium-size businesses connected to rental real estate increased by more than 70% in the spring”. Those numbers remain elevated, near 50% higher than 2019, still.

Kate Bulger, a financial counselor specializing in housing debt at the Money Management International counseling firm, said: “Even if now they are able to make their rent payment, that huge inflation to their credit-card debt has become a new threat to their budget and their ability to cover all their expenses.”

The only question is whether or not the economy is next to “explode”…

END
The big short of 2020 is coming true with the collapse of two big REITS
Pennsylvania Real Estate Trust and CBL  of Chattanooga  Tennessee
(zerohedge)

Two Major Mall Landlords File Bankruptcy Amid Retail “Carnage”

While the Wall Street crowd has since moved on from shorting malls, aka the “Big Short 2.0”, in some distinct cases with massive profits, to shorting hotels which as we first presented here earlier this year has emerged as the “Big Short 3.0” trade, this weekend we got a vivid reminder of what Bloomberg dubbed “carnage” among mall tenants when two major mall landlords filed for bankruptcy this weekend, following their constantly growing list of bankrupt clients into Chapter 11 protection.

Two mall REITs, Pennsylvania Real Estate Investment Trust and CBL & Associates Properties filed for Chapter 11 protection on Sunday, citing pandemic-induced pressures on their tenants and, by implication, themselves. Together the two REITs account for 87 million square feet of real estate across the U.S., according to court filings.

CBL, based in Chattanooga, counts 107 properties in 26 states in its portfolio, including enclosed malls, outlets and open-air retail centers…

… while Philadelphia-based PREIT owns malls in Pennsylvania, New Jersey, Virginia, Maryland and Michigan, according to its website.

While the brick and mortar retail “apocalypse” was already a fixture of the US economy ahead of the covid pandemic thanks to the destructive effect of Amazon on legacy retailers, the pandemic worsened the already dire situation as a steady stream of chains imploded as their customers shifted to online shopping. J.C. Penney, J. Crew and Ann Taylor are among the dozens of chains that have sought court protection since Covid-19 lockdowns devastated in-store shopping this year.

In the end, for mall landlords like PREIT and CBL, which own less productive malls than rivals such as Simon Property Group and Macerich according to Bloomberg Intelligence analyst Lindsay Dutch, this hurdle proved insurmountable, although judging by their stock price, their collapse was hardly a surprise.

“There’s too much retail real estate in the U.S.,” said Dutch, a REIT equity analyst. “Retailers continue to reduce their store footprints, and while brick and mortar is here to stay, the focus is on high-quality locations.”

And while shareholders face total loss, the good news for employees is that some may keep their jobs: the mall owners obtained pre-petition support of creditors for restructuring plans prior to their bankruptcy filings, shortening their trips through bankruptcy. PREIT’s plan would, pending court approval, push out debt maturities and bring in $150 million of additional capital. CBL’s plan would slash debt by $1.5 billion and also extend certain maturities, according to Bloomberg

end
Twitter capitulates and reinstates the NYPost account after a 16 day suspension after their stock plummets
(zerohedge)

Twitter Capitulates: Reinstates NYPost Account After 16-Day Suspension

Following contentious Congressional testimony this week from Twitter CEO Jack Dorsey and a 22% drop on Friday, the social media giant finally decided to unlock the New York Post‘s account just days before the general election – aftermore than two weeks in Twitter jail for posting a negative article on the company’s preferred candidate, Joe Biden.

In a Friday afternoon thread, Twitter Safety wrote that their policies are ‘living documents’ which they’re willing to ‘update and adjust when we encounter new scenarios or receive important feedback from the public.’

The company says they’re ‘updating our practice of not retroactively overturning prior enforcement,” and have decided to let the Post have their account back.

In short, Senator Ted Cruz (R-TX) was able to stop Twitter’s obvious election meddling by silencing one of the largest (and oldest) outlets in the country.

The move also comes after DHS Acting Secretary Chad Wolf penned a scorching letter to Twitter demanding answers over why they’ve censored Customs and Border Protection senior official Mark Morgan over a post touting the southern border wall as helping to “stop gang members, murderers, sexual predators, and drugs from entering our country.” It appears his account is still locked, however.

The company was last able to post on October 14, the day they dropped a bombshell report regarding alleged incriminating contents on Hunter Biden’s laptop.

Earlier in the day, CNN’s Jake Tapper suggested the post simply bend the knee and delete the offending tweet.

ENDScary!!! Thousands of ballots in Pennsylvania may be missing as Butler county never received their requested mail in ballots

(Phillips/EpochTimes)

Thousands Of Ballots In Pennsylvania May Be Missing: Officials

Authored by Jack Phillips via The Epoch Times,

Thousands of voters in Butler CountyPennsylvania, said have they never received their ballots…

Nearly 40,000 registered voters in the county requested mail-in ballots, but only about 24 percent of them have been returned back to the county so far, authorities said.

“At first we thought that maybe it just was a delay in the postal system” due to the high number of requests, Leslie Osche, chair of the Butler County commissioners, was quoted by the Pittsburgh Post-Gazette as saying.

“And that could still be the case. But nonetheless, when we realized that, we changed our strategy and now have begun to tell folks that if they haven’t received a ballot, they still have multiple options.”

“Our main focus—because it’s too late now to worry about this—we need to make sure we get these people their ballots,” Osche added.

A U.S. Postal Service (USPS) spokesperson told the Pittsburgh Post-Gazette that the agency is “unaware of any significant delays or issues and is in regular contact with the Board of Election as we work to locate and deliver ballots as they are presented to us.” As of Tuesday, voters in Pennsylvania cannot apply for a mail-in or absentee ballot.

A local county official, Aaron Sheasley, told CNN Friday that the county has received more than 10,000 phone calls about information related to the ballots that were requested but not received.

“Somewhere between the post office and the Pittsburgh sorting facility something happened,” Sheasley told the network.

“We don’t know what.” He added:

“We haven’t given out any numbers” about the number of missing ballots “because we simply don’t know.”

Speaking to CNN, Chuck Bugar, president of the American Postal Workers Union Pittsburgh chapter, said there is no record that suggests the missing ballots in Butler County made it to a Postal Service facility.

“There’s no pile of ballots that have been taken from the Butler County election committee that are sitting around,” Bugar said.

“There’s no record or indication that they entered the mail stream. There’s paperwork that goes along with it.”

Butler County voted for President Donald Trump over Democrat rival Hillary Clinton in 2016 about 66 percent to 29 percent. The county is located north of Pittsburgh and has approximately 150,000 registered voters. In 2020, both Trump and Democratic nominee Joe Biden have been holding events and rallies, vying to secure the key battleground state with 20 electoral votes.

The county told the Post-Gazette that voters can come to the Bureau of Elections and vote in person, provide them with identification, and officials will then give them a new mail-in ballot that a voter can return immediately. The original ballot that was mailed will be voided.

END
Businesses are boarding up in anticipation of election night chaos
(zerohedge)

From Midtown To Portland, Businesses Are Boarding Up In Anticipation Of Election Night Chaos

With Election Day looming just around the corner, America’s biggest cities and joining America’s biggest social media networks in battening down the hatches in preparation for any unrest that might follow the vote count.

In Midtown Manhattan, the site of some of the worst looting in the country during the worst of the George Floyd riots, Macy’s and other stores are hammering plywood over their doors and windows.

“Our windows at Macy’s Herald Square were previously scheduled to be dark next week in set-up for our annual holiday displays. Out of an abundance of caution, we are implementing additional security measures at several of our stores,” a company spokesman said in a statement reportedly emailed to NBC New York.

Despite the new window dressing, Macy’s says it intends to continue operating during normal business hours (though potential customers might be dissuaded by all the plywood).

NBC also reported that boards were going up at the T-Mobile store in Times Square.

Boards are also going up in Washington DC and LA, the site of a recent wave of protests following a police shooting of an armed black man.

CNBC’s Eamon Javers shared photos of businesses putting up plywood barriers in downtown Washington DC.

The neighborhood around the White House is preparing for unrest as businesses scrambled to put up boards, fences, chains and other barriers.

One Twitter user shared photos of downtown LA, where, he claimed, “so many businesses boarded up & in the process of boarding up. Same thing happening in Beverly HIlls & Santa Monica in anticipation of election night. All 3 areas hit hard by looters & rioters during the George Floyd unrest.”

We’re beginning to see a pattern here. Many of the neighborhoods around the country resorting to putting up plywood and other fortifications already learned their lesson back in the Spring.

In San Francisco, the city’s tallest building, Salesforce Tower, has covered all of its ground floor windows in plywood, according to tweets from a local journalist.

In Seattle, the area formerly known as “CHAZ/CHOP” isn’t taking any chances.

Further out in the suburbs, strip malls in Bellevue, Wash. apparently aren’t taking any chances.

Finally, business owners in “progressive” Portland aren’t taking any chances.

One of the many interesting market trends this year is the rising cost of lumber and once-cheap plywood. In addition to terrorizing minority-owned businesses and neighborhoods, looters and rioters are also driving up the cost of building a new home in cities suffering from a desperate shortage of housing stock.

Of course, if the election does end up being contested, we suspect prices for lumber and other materials would soar.

end
This is terrific for Trump: Elite Nany Seal Team rescues an American citizen captured by Boko Harem in a daring Nigeria raid
(zerohedge)

Elite SEAL Team Rescues American Hostage In Daring Overnight Nigeria Raid

The Pentagon announced Saturday that US special forces have been successful in a daring rescue operation of an American citizen who had been taken hostage earlier in the week by an armed group in Niger.

It was reportedly conducted by the Navy’s most elite SEAL Team in the early hours of Saturday, which in media reports is often referred to as SEAL Team 6 (though goes by other names internally within JSCOC).

It remains unclear as to the precise identity of the group of kidnappers, however, current US official statements suggest it was not an organized terrorist group but instead likely “bandits” seeking ransom money. The American had been subsequently taken by the group across the border into northern Nigeria where the special forces raid rescued him.

The dangerous border region is known for the presence of al Qaeda activity as well as the Islamic State’s Boko Haram. The State Department had earlier in the week reported an American was taken captive Tuesday. Follow-up reports identified the man as a missionary named Philip Walton.

Pentagon spokesman Jonathan Hoffman said the US citizen has been recovered and is safe, and further that no US personnel were injured during the rescue.

“U.S. forces conducted a hostage rescue operation during the early hours of 31 October in Northern Nigeria to recover an American citizen held hostage by a group of armed men. This American citizen is safe and is now in the care of the U.S. Department of State. No U.S military personnel were injured during the operation,” Hoffman said in a statement.

“We appreciate the support of our international partners in conducting this operation. The United States will continue to protect our people and our interests anywhere in the world.”

Navy Seals file image via Washington Times

Multiple members of the armed group were killed in the raid on their compound where the American was held, according to details given by CNN:

The mission, which was several hours long, was conducted by the Navy’s elite SEAL Team 6 who were flown to the region by Air Force special operations, a US official with knowledge of the operation told CNN.

The US forces who conducted the mission killed six of the seven captors, the official said. The US believes the captors have no known affiliation with any terror groups operating in the region, and were more likely bandits seeking money.

Nigeria’s northern border region has long been a place of heightened Boko Haram activity, but there’s also “lawless” areas where bandits operate. Map via VOA

President Trump congratulated those involved in the mission in a Saturday morning tweet, saying, “Big win for our very elite U.S. Special Forces today.” And he added: “Details to follow!”

end

Pittsburgh Post Gazette endorses President Trump making its first GOP endorsement in almost 50 years.

(zerohedge)

Pittsburgh Post-Gazette Endorses President Trump, Marking First GOP Endorsement In Almost 50 Years

The Pittsburgh Post-Gazette – a well known paper in a key battleground state – came out on Sunday morning and announced their endorsement of President Donald Trump. It’s the first Republican the paper has endorsed for President since 1972 – nearly fifty years ago.

In an editorial called “The Man And The Record“, The Pittsburgh Post-Gazette makes the case for shaking off arguments about Trump’s personality and putting a focus on his record.

The editorial starts by asking what is important when choosing a president. “Isn’t the real question whether he has been taking the country, and the economy of this region, in the right direction these last four years? Can we separate the man from the record?”

The paper also started by acknowledging many of the personality flaws that are often brought up when discussing President Trump: “We share the embarrassment of millions of Americans who are disturbed by the president’s unpresidential manners and character — his rudeness and put-downs and bragging and bending of the truth.”

But then, it does something that many on the left are unable to do: it looks at, and judges Trump, based on his record. 

Trump rally near Pittsburgh, PA on October 31, 2020. 

“Let’s look at the Trump record,” the piece says. “Under Donald Trump the economy, pre-COVID, boomed, like no time since the 1950s. Look at your 401(k) over the past three years. Unemployment for Black Americans is lower than it has ever been, under any president of either party. Under Mr. Trump, our trade relationships have vastly improved and our trade deals have been rewritten. Thanks to him, middle America is on the map again and the Appalachian and hourly worker has some hope.”

It continues: “Has Mr. Trump done enough for these struggling fellow citizens? No. But he recognized them. Maybe he was not articulate, but he recognized their pain.”

The piece notes that Trump has put America first, the way he said he would:

No one ever asked the American people, or the people in ‘flyover,’ country, if they wanted to send their jobs abroad — until Mr. Trump. He has moved the debate, in both parties, from free trade, totally unfettered, to managed, or fair, trade. He has put America first, just as he said he would.

And it praises him for appointing Amy Coney Barrett: “He also kept his promise to appoint originalists to the Supreme Court of the United States. His third appointment, Amy Coney Barrett, is the best of all — a jurist whose mind and character and scholarship ARE first class. We hope she stands against both judicial and executive excess.”

And you can’t talk about Western PA without talking about the energy industry: “Finally, let’s talk about one of the most important concerns in this region — energy. Under Mr. Trump the United States achieved energy independence for the first time in the lifetimes of most of us. Where would Western Pennsylvania be without the Shell Petrochemical Complex?”

Finally the Post-Gazette rails Joe Biden as “too old for the job, and fragile” and says Kamala Harris “gives no evidence” of being ready to takeover for Biden:

Mr. Biden is too old for the job, and fragile. There is a very real chance he will not make it through the term. Mr. Trump is also too old but seemingly robust. But in Mike Pence, Mr. Trump has a vice president ready to take over, if need be. He is a safe pair of hands. Sen. Kamala Harris gives no evidence of being ready to be president.

“Donald Trump is not Churchill, to be sure, but he gets things done,” the paper concludes.

end

Now Philadelphia Firefighters break union ranks by endorsing Trump over Biden.  Nationally the firefighters are stupidly endorsing Biden

(zerohedge)

Philadelphia Firefighters Union Breaks From National Biden Endorsement To Endorse President Trump

The Philadelphia firefighters union’s endorsement of President Donald Trump wasn’t without its bumps in the road – but heading into election day, it looks to be here to stay.

Philadelphia’s Firefighter and Paramedics Union broke from its international arm’s endorsement of Joe Biden, which was made back in 2019 by the International Association of Firefighters.

After the Firefighters Local 22 endorsed President Trump on September 29, they were sued by a member group of black firefighters called “Club Valiants”, who claimed the endorsement violated the union’s laws on political activity. Some members are also trying to push out Local 22 President Mike Bresnan over the endorsement.

“It’s a very polarizing, emotional issue. I knew that was going to happen,” Bresnan said at the time.

As a result of the controversy, the union cancelled its regularly scheduled meetings for October and November and instead focused on a mail-in referendum on whether or not it should uphold its endorsement of Trump.

The vote, put forth last week, saw 1,444 votes returned in favor of the endorsement and 782 votes to rescind it. Roughly 47% of the union’s 4,700 members voted, according to Firehouse.

William Tung, a Local 22 member who was part of the group fighting against the endorsement, said: “We’re not arguing that we should endorse Biden. We’re just saying we should stay out of it.”

Trump has also been backed by the 335,000 member Fraternal Order of Police and the 241,000 member National Association of Police Organizations. The International Union of Police Associations, the New York City Police Benevolent Association and the Florida Police Benevolent Association have also thrown their support behind the President.

iv) Swamp commentaries)

CNN on Saturday now claims that the Burisma deal stinks to high heaven. Also an ABC story also comments on the Hunter biden fiasco

(zerohedge)

CNN Claims Hunter Biden “Burisma Deal” Stinks; Story On ABC News Confronting Hunter Biden Resurfaces

Update (1030ET): Now that the dam has broken, more MSM “journalists” are jumping on the Hunter Biden story, including CNN’s Jake Tapper, who acknowledged on Saturday that Hunter Biden’s relationship with Burisma – initiated just weeks after his father became the top US diplomat responsible for purging corruption in Ukraine – “stinks”

CNN followed that up with something even more surprising: An opinion piece arguing that Trump does deserve a second term.

‘Wow’, indeed.

* * *

Last night, after a 16-day blackout, Twitter finally relented and released the NY Post’s account from ‘Twitter jail’, punishment for the paper’s work publishing stories about Hunter Biden’s financial dealings in Ukraine and China. Some of the emails clearly contradicted Hunter Biden father’s claims that he had never discussed business with his son.

On the contrary, it was later revealed, Joe Biden was “the big man”, a “Godfather”-like figure overseeing the business dealings of his son, and his brother, Jim Biden, from a relatively safe distance. As former Biden business associate Tony Bobulinski affirmed, the Bidens saw Hunter’s dealings abroad as part and parcel of the family business. “They were putting the Biden name on the line,” Bobulinski said.

For the last two weeks, big tech and their allies in the mainstream media have been dreaming up every excuse imaginable to continue censoring the Hunter Biden stories. Meanwhile, a network of conservative blogs led by a new Chinese news site called G-News have released an unceasing stream of pornographic images purporting to show Hunter Biden using drugs and engaging in sexual acts.

But after Jack Dorsey, Mark Zuckerberg and Sundar Pichai were dragged in front of a Senate Committee this week and mercilessly pounded by Ted Cruz, followed by a historic selloff in Twitter shares on Friday – and after Intercept founder Glenn Greenwald quit and appeared on Tucker Carlson to accuse the outlet of censoring criticism of Biden –  it seems the entire mainstream media ecosystem has finally run out of excuses, and just like that, Hunter Biden and the issue of foreign corruption exposing the former VP to international blackmail is back on the table.

As CNN and other media outlets start to ask more questions about Hunter Biden, conservative and independent journalists are resurfacing this ABC News reporter from 2019 where Tom Llamas confronts Biden in person and lobs several hardball questions about the Hunter Biden scandal. Did Joe Biden allow his son to earn millions in shady deals in foreign countries.

“It’s a question we tried to ask repeatedly…but kept getting blocked.”

The questions were about deals involving Hunter Biden in countries where his father was “working as America’s top diplomat”.

Delving deeper into the backstory than any mainstream media report we’ve seen, ABC explains how Joe Biden was dispatched to Kiev to fight the “cancer of corruption” as civil war broke out.

But then something strange happened: “just three weeks later, a Ukrainian national gas company, Burisma, which had been accused of corruption, promotes Hunter Biden to its board, and paid his firm millions of dollars a year.”

Llamas pointed out that the younger Biden had just been discharged from the Navy reserves for testing positive for cocaine, and that although he had sat on corporate boards before, he had no experience in the natural gas business.

Now, as we wait to see if more mainstream media outlets will turn critical of Biden in the waning days of the election, we can’t help but wonder if CNN, ABC and others might be forever be blamed as the ‘James Comey’ of 2020 if Trump pulls off another ‘surprise’ triumph.

end
Let a load of this one:  General Flynn asks why Chung emailed Hunter Hunter classified stuff.  Chung was the secretary to Biden Sr.
(Hoft/Gateway Pundits)

General Flynn Tweets Out Cryptic Message About Email Found on Hunter Biden’s Deserted Laptop

By Joe Hoft
Published November 1, 2020 at 12:16pm
327 Comments

General Flynn has remained quiet for the past four years on account of the Deep State efforts to have him locked up and put away based on fake crimes.  Today the good General Flynn posted a cryptic tweet.

In a response to a tweet by Molly Hemingway from the Federalist, General Flynn encouraged Hemingway to investigate “Kathy Chung (EOP) and why in 2015 is she giving a “treasure trove” of intelligence (phone no’s) to Hunter & Redacted. Any foreign power would love to have this information!!!”

In response Internet sleuths provided quick and accurate information.  One sleuth responded confirming that Kathy Chung worked for VP Biden:

Another sleuth responded that Ms Chung was Hillary’s contact when Joe Biden’s son Beau went in the hospital:

Hemingway was tweeting about the blockbuster post in the Daily Mail about Hunter Biden’s laptop.  In the article the Daily Mail shows an email from Chung to Hunter:

General Flynn asks why would this information be sent to Hunter?

We don’t yet know the answer, but Hunter was in deep with China, Russia, Ukraine and other entities around the world.  We also know that Hunter Biden was careless, wreckless and well-known crack addict.  And Hunter Biden’s computer had a password that could have been “hacked” in a two minutes. General Flynn asks an important question.  

end

The fun begins:

(zerohedge)

Pennsylvania Election Officials Rattled After Trump Campaign Requests Names Of Ballot Transporters, Storage Locations

Elections officials in Cumberland County, Pennsylvania were rattled last week after a Trump campaign aide requested ‘highly specific details’ about the county’s ballot security, according to The Sentinel.

Cumberland County Bureau of Elections Director Bethany Salzarulo demonstrates how the new voting machines work March 3 at the Cumberland County Bureau of Elections in Carlisle. (via The Sentinel)

A Tuesday email from Trump aide Leslie O’Shaughnessy requested the names of people transporting ballots from voting machines once polls close, the names of people with access to the ballots, and locations where ballots are stored – including room numbers.

County Commissioner Gary Eichelberger (R) called the request ‘intrusive,’ and suggested that it might disrupt the election process in the county of 253,000 residents.

It’s almost kind of chilling the sort of data they wanted us to provide,” said Eichelberger. “This is basically the whole security plan. We’ve never received a request of this detail and I find it troubling that one of the interested parties [in the election outcome] feels they have a right to information that obviously could jeopardize the security of the ballots.”

Campaign spokeswoman Thea McDonald told the Washington Post that the request was for “standard election transparency details,” and that the campaign had been in touch with out counties – “some of which transparently provided answers to these important, reasonable questions via less formal requests.”

“As part of the Trump campaign’s efforts to ensure a free and fair election, we have asked county clerks for information so that we can gain a detailed understanding of voting processes — and the similarities and differences that may exist in different jurisdictions,” she told the Post in an emailed statement.

The email contained an attached, bullet-pointed list of the details requested, which O’Shaughnessy described as being pursuant to “your office’s compliance with existing statutes and law.”

“Please respond to these questions no later than 5:00 pm EST, tomorrow, Wednesday, October 28, 2020,” the email stated, asking for the response to be sent to a Gmail account bearing O’Shaughnessy’s name, and also including a phone number.

the details O’Shaughnessy asked for in her email do not concern ballot verification; rather, they are specific physical security details for ballots and voting machines.

These include information on “the location(s) that ballots are immediately sent to when polls close (including address and room number)” as well as “the individuals who transport the ballots to the location(s).

The campaign is also asking for “the time(s) when are ballots are transported to canvass site,” information on any security provided, and “the best point of contact for each storage location(s) of the ballots.” –The Sentinel

“Given that more than 500,000 mail ballots were tossed out in this year’s primaries, we must look into these critical issues ahead of November,” McDonald told the Sentinel, linking to a Washington Post article on the volume of vote-by-mail ballots which were disqualified in the spring due to missing signatures, illegible marks, late arrivals and other reasons.

Federal Judge Tosses Texas GOP Bid To Invalidate Nearly 127,000 Drive-Through Votes

A federal judge in Texas threw out a bid by Republican activists to toss nearly 127,000 drive-through ballots cast in the most populous county in Texas, which leans Democratic.

“For lack of a nicer way of saying it, I ain’t buying it,” said US District Judge Andrew Hansen of the last-minute challenge to voting rules, adding that the activists lack standing.

“You have a tough uphill row to hoe,” Hanen told the plaintiffs earlier, adding that they would have to do a “fair amount of convincing” in a very short period of time before Tuesday’s general election.

“A lot of people would say, ‘Gee, if I had known there was a question about voting drive-in, I would have parked my car and walked to the polls,” Hansen added.

According to Bloomberg, the hearing took place just one day after the Texas Supreme Court denied efforts to reject drive-through votes in Harris County, which includes the Houston metropolitan area  – home to roughly 4.7 million people which voted for Hillary Clinton by 161,959 ballots.

Republicans argued that drive-through voting is an illegal extension of curbside voting, which is designed for people who are sick or have a physical disability – a method implemented by Harris County officials to limit the spread of COVID-19 during the election.

On Monday, attorney Christina Ford – representing Democratic parties which intervened in the case – said that provisional ballots do not have any way to indicate that they were cast at a drive-thru location, and that invalidating their ballots “would cause mass confusion” and lead to a “frantic situation with voters trying to figure out if they could cast a provisional ballot.”

“Plaintiffs argue that drive-thru voting would result in fraud and corruption,” said Ford, adding “There’s no evidence of that.

Michigan Governor Whitmer Goes Full Orwell, Demands Full Names, Phone Numbers For All Restaurant Customers

Effective this week, diners in Michigan are now going to be required to produce their full name and contact information simply for wanting to eat out at a restaurant or bar.

Ironically, it’s likely more information than citizens are required to produce in order to vote.

Democratic Governor Gretchen Whitmer has moved her state one step closer to a true Orwellian paradise, asking her citizens to surrender their privacy every time they want a cheeseburger and a coke at their local diner. Whitmer has already been struck down once by the Supreme Court over trying to unilaterally extend the state’s emergency declarations, The Western Journal noted.

A new release from the Michigan Department of Health and Human Services said: “Like many other businesses in Michigan, bars and restaurants will also be required to take names and contact information to support effective contact tracing if necessary.”

But who can be worried about such mundane things as rights in the midst of an unstoppable pandemic that is slightly more deadly than the flu, right?

That was the Michigan DHS’s take. They said: “Michigan presently has 172 cases per million people and positivity of tests has increased from about 2% to 5.5% and both indicators have been increasing for over four weeks. Hospitalizations for COVID-19 have doubled over the last three weeks while the state death rate has increased for five consecutive weeks.”

The order also reduced the amount of people that can gather in the state for weddings and parties: “As part of the newly extended orders, MDHHS today reduces from 500 persons to 50 persons the maximum gathering size for indoor gatherings such as weddings, parties, and banquets which occur in nonresidential settings without fixed seating.”

It added: “For bars, restaurants, and social events outside private homes, indoor party sizes at a single table are now restricted to six people.”

Violating the order could result in a $1,000 fine, a misdemeanor, and potentially imprisonment, the DHS said: “Violations are punishable by a civil fine up to $1,000 and may also be treated as a misdemeanor punishable by imprisonment for not more than six months or a fine of not more than $200, or both. In addition, failure to comply with orders may violate a business or professional’s licensure requirements or present a workplace safety violation.”

Unsurprisingly, Michigan businesses are not happy about the new order. 

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

Covid-19: PM announces four-week England lockdown   https://www.bbc.com/news/uk-54763956

Colleges are slashing tuition to entice students back.

As campuses shut down due to Covid-19, a growing list of universities, including Princeton, Georgetown and Johns Hopkins, offered a 10% discount on tuition for students studying remotely to account for changes in the college experience…  https://t.co/27yg5diUos

Private schools in Brooklyn red zone permitted to reopen with stricter testing: Cuomo

https://www.amny.com/new-york/private-schools-in-brooklyn-red-zones-permitted-to-reopen-with-stricter-testing-cuomo/

Senator Rand Paul @RandPaul: Yes, by all means let’s examine the science on immunity.”… 17 years after the 2003 [SARS] outbreak, [recovered patients] still possess long-lasting memory T cells . . ., which displayed robust cross-reactivity to” COVID.  Also, scientists found a specific T cell response to COVID “in individuals with no history of SARS, COVID-19 or contact with SARS/COVID-19 patients”… likely explained by previous infection with coronavirus colds.

 

SARS-CoV-2-specific T cell immunity in cases of COVID-19 and SARS, and uninfected controls

15 July 2020    https://www.nature.com/articles/s41586-020-2550-z

@JackPosobiec: Trump crowd in Butler PA is jaw-dropping (Saturday, estimated at 60k) https://twitter.com/JackPosobiec/status/1322683973366095874

A reported 92 mile long Trump caravan appeared in Arizona. https://twitter.com/thejtlewis/status/1322929106414047232

Obama with Biden in Flint, Michigan on Saturday, “What is his obsession with crowds, anyway?”

@TrumpWarRoom (Sat) Joe Biden: “Barack and I think it’s a right for people to have badakathcare.”

https://twitter.com/TrumpWarRoom/status/1322643443722657794

@TrumpWarRoom: Did Joe Biden forget to get out of bed??? (Obama repeatedly calls for ‘Joe Biden’ until Joe finally shows)   https://twitter.com/TrumpWarRoom/status/1322611396392210432

@TrumpWarRoom on Saturday: WATCH: Joe Biden fantasizes about assaulting Donald Trump (Solidifying the suburban woman vote?)  https://twitter.com/TrumpWarRoom/status/1322615341084745729

The NYT’s @Nate_Cohn: Trump leads the final Selzer poll of Iowa by 7 points, 48 to 41.  That’s the same margin as their final poll four years ago, which wound up foreshadowing Trump’s Midwestern sweep

Des Moines Register on its ‘gold standard’ poll: “Biden has lost ground with women. In September, he held a 20-point lead among women, which balanced out Trump’s 21-point lead among men. But today, Biden’s lead with women has shrunk to 9 percentage points, 50% to 41%.

https://desmoinesregister.com/story/news/politics/iowa-poll/2020/10/31/election-2020-iowa-poll-president-donald-trump-leads-joe-biden/6061937002/

@afneil: The Iowa Poll is gold standard for statewide polling in US. Last night it put Trump on 48%, Biden on 41%. Des Moines Register said Biden “fading” in Iowa, reinforcing Democrat fears he’s not finishing strongly. Poll also put Sen Joni Ernst (R) on 46%, Theresa Greenfield (D) on 42

Non-partisan pollster StatesPoll.com @StatesPoll 2020 Electoral College Final Forecast Map November 1, 2020 (Mentioned on Fox on Sunday) Donald Trump (322) vs Joe Biden (216)  https://twitter.com/StatesPoll/status/1322752140058652673

Trump holds the first of 5 rallies in battleground states, ahead of 2 Biden events in Philadelphia

https://www.foxnews.com/politics/live-updates-trump-biden-focus-on-crucial-states-during-last-campaign-weekend

Biden spent Sunday in Philadelphia, which he should have owned, at an event to get out black voters (“souls to the polls”) and then another drive-in rally.  This speaks volumes about the campaign.  Trump has 5 rallies scheduled for today, including a rally in Biden’s hometown of Scranton, PA.  Biden will visit Pittsburg with Lady Gaga, who vehemently opposes fracking!  What genius thought bringing Gaga to the heart of fracking country in PA was a good idea?  Kamala Harris, with John Legend, will appear in Philly.

@TimMurtaugh: In this video, Joe Biden claims to be wearing a Philadelphia @Eagles jacket (while in Philly on Sunday).  He’s not.  It’s a Delaware Blue Hens jacket. [The MSM enables Joe’s fibbing.  PS – Joe reportedly talked for only 15 minutes and then left.]  https://twitter.com/TimMurtaugh/status/1323021027740364806

@jsolomonReports on Sunday: Trump blasted Facebook for removing ‘NJ Women for Trump’ group, later tweeted that page was restored

Why So Many Polls Favor Biden [Polls are the outlier; data & dynamics favor Trump]

Americans are asking themselves: Who should we believe—the polls or our own lying eyes?

    Trump fills stadiums with cheerful, enthusiastic, grateful crowds. Biden stays mostly in his basement, and when he does venture forth, his audiences are tiny. The stock market shows no expectation that the crushing tax and regulatory agendas in Biden’s platform are likely to soon become law

    Most pollsters conduct that work on behalf of paying clients. Clients tend to have their own agendas… Those who truly wish to understand public sentiment typically want to leverage that information to their own benefit—not share it with the public. Those who pay for publicly facing polls typically value the ability to shape public opinion, rather than merely to measure it. To understand public polls, it’s thus important to consider the incentives driving those clients and the polling firms they hire https://www.newsweek.com/why-so-many-polls-favor-biden-opinion-1542607

@LisaMarieBoothe: People get beat up for wearing MAGA hats and called “chumps” or “deplorables” for supporting Trump. Sixty-two percent of Americans have political views they are afraid to share. Do you really thing polling is accurately capturing the electorate?

Democratic concerns about Latino support linger in final days of campaign

“The Latino men, specifically those 50-to-75-years-old, are no different than White males in suburban communities,” said Philadelphia City Councilmember Maria Quiñones-Sánchez, a member of the Biden campaign’s Pennsylvania Latino Leadership Council. “They’re macho men and there’s parts of Trump’s personality that they like, and we needed to be able to have counter-messaging about how the family component of who they are is being attacked.”…

https://www.cnn.com/2020/10/30/politics/latino-voters-democrats-election/index.html

 

Democrats turning out at lower rates than Republicans in Miami

South Florida is a pivotal region for Democrats seeking to win Florida

    In Miami-Dade, 152,964 registered Republicans cast early ballots, leading Democratic voters, 146,371 of whom turned out early to the polls, according to state data on Friday…

   In Broward County, 45% of Black voters had cast their ballot as of Wednesday, compared with 57% of Black voters who voted early or by mail in 2016…

https://www.foxnews.com/politics/democrat-rates-lower-republicans-miami-2020

Senior officials in Biden’s campaign team are worried about Black and Latino turnout in Florida and Pennsylvania.   https://www.bnnbloomberg.ca/biden-aides-see-warning-signs-in-black-latino-turnout-so-far-1.1515669

Wisconsin [Dem] governor urges voters to come to polls rather than mail ballots

https://www.foxnews.com/politics/wisconsin-governor-tells-voters-to-show-up-to-polls-on-election-day-dont-mail-in-ballots

Fraudster attempts to register dozens of dead Democrats as voters in Broward – The scheme exposes weaknesses in Florida’s voter registration process, which relies partially on the honor system

https://www.sun-sentinel.com/news/politics/elections/fl-ne-voter-id-fraud-broward-florida-20201030-rfwqzhgfq5fypl4632dspgla7i-story.html

Michigan Democratic Rep. Dingell: ‘So many’ auto workers are choosing Trump over Biden

https://justthenews.com/politics-policy/elections/michigan-democratic-rep-so-many-auto-workers-are-choosing-trump-over

@thebradfordfile: 50% of Trump’s last Michigan rally were Democrats, in case you were wondering why Biden and Obama are heading there. [Past weekend]

@my3monkees on Friday: According to the Fire Marshall- there were 13,000 cheering people at @realDonaldTrump Michigan rally. Sleepy Joe had 250 cars honking in [Des Moines] Iowa.

Biden and Trump campaigned in Wisconsin on Friday.

Fox 9’s @TheoKeith: Here’s a photo from our drone pilot near the Biden campaign event at the Minnesota state fairgrounds.  Roughly 100 cars on site so far.  FOX 9 and some local news outlets were not granted access. Some others were. https://twitter.com/TheoKeith/status/1322284955158925312

‘Ugly folks’: Biden gets annoyed by Trump supporters at drive-in rally

They honked over his speech… https://nypost.com/2020/10/30/noisy-trump-supporters-get-under-bidens-skin-at-drive-in-rally/

 

@KelemenCari: Minnesota Gov Tim Walz and AG Ellison tried to limit President Trump’s rally today to 250 people. Trump wrote back and told them it is a Peaceful Protest [Then DJT lit them up at the rally for allowing protestors to ransack Minneapolis but trying to limit his rally]

@realDonaldTrump: Your far-left Dem Attorney General, and your Dem Governor tried to shut down our rally, silence the people of Minnesota, and take away your freedom of assembly. They thought we would cancel – but I said NO WAY, I will NEVER abandon the people of Minnesota!

Kamala Harris Tells Latinos in Texas: “Joe Biden and I Are About to Work to Get Rid of That Tax Cut”  https://www.thegatewaypundit.com/2020/10/kamala-harris-tells-latinos-texas-joe-biden-work-get-rid-tax-cut-video/

@KamVTV: ICYMI: The Biden bus tour canceled the rest of its Texas tour because more Trump supporters showed up than Biden supporters- not harassment. They canceled Abilene, Amarillo, Lubbock, Port Arthur, Houston, Laredo they had 14 stops!!! They got shut out EVERYWHERE!!

@davidchapman141: Since 1852, Presidential candidates who win both Ohio & Florida are 26-1. Nixon 1960 is the exception. (1960 was a rigged election)

@GretaLWall: President Trump is ramping up his campaign schedule ahead of Election Day

4 rallies on Saturday all in Pennsylvania; 5 rallies on Sunday – Michigan, IA, NC, GA, FL; 5 rallies on Monday – NC, PA, & final 3 in Michigan

@EddieZipperer: BIDEN [Friday]: “I’ll lead an effective strategy to mobilize trunalimunumaprzure.”

https://twitter.com/EddieZipperer/status/1322218253247303681

@paulsperry_: Biden has a new campaign ad talking about how “character is on the ballot” this election. Indeed it is, Joe, indeed it is.  [You can’t make this up!]

@joelpollak: Biden to Florida drive-in event (Thursday): “I guarantee you, my word as a Biden…”

WSJ: Joe Biden is running on Covid and character, but Americans should know they may be voting for disruption of a different kind from the political left

The Biden Contradiction – He’s running on Covid and character, but his policies are the most left-wing in decades.  https://t.co/q6MLRf4Q7l

@seanmdav: Democrats impeached Trump because he was concerned about Hunter Biden’s corruption at the very same time the FBI was investigating Hunter Biden *and his associates* for money laundering. The entire impeachment was a scam to protect Joe Biden’s gravy train.

ABC News Breaks Mainstream Media Blackout of Hunter Biden Story; CNN Says Burisma Deal “Stinks [Because the effect on voters will be de minis now and >95m have already voted!]

https://www.zerohedge.com/political/abc-news-breaks-mainstream-media-blackout-hunter-biden-story

How the Bidens Dodged the Payroll Tax [At the 11th hour the MSM tries to act fair & balanced.]

They used an S-corp to avoid paying more than $500,000 in levies for Medicare and ObamaCare.

https://www.wsj.com/articles/how-the-bidens-dodged-the-payroll-tax-11597083162

National security nightmare of Hunter Biden’s abandoned laptop containing phone numbers for the Clintons, Secret Service officers and most of the Obama cabinet plus his sex and drug addictions – all secured by the password Hunter02

https://www.dailymail.co.uk/news/article-8901193/amp/National-security-nightmare-Hunter-Bidens-laptop.html

Pelosi: “And we are ready …I feel very confident that Joe Biden will be elected president on Tuesday. Whatever the end count is on the election that occurs on Tuesdayhe [Joe Biden] will be elected — on January 20th he will be inaugurated President of the United States.”

https://twitter.com/MarinaMedvin/status/1321961916177272834

Joe Biden Campaign Cuts off Nevada TV Reporter after Two Questions

https://www.breitbart.com/politics/2020/10/29/joe-biden-campaign-cuts-off-nevada-tv-reporter-after-two-questions/

‘Destroy Trump Ballots’ demands New York Times, The Atlantic writer

https://thenationalpulse.com/politics/msm-journo-jokes-about-destroying-trump-ballots/

Trafalgar’s Robert Cahaly said on Friday night that Trump has to win PA by 4-5 pts to overcome voter fraud.  Reportedly, the Trump campaign claims they need at least a 100,000 vote margin on election night to overcome PA voter fraud.

Mueller gathered evidence suggesting DNC, Clinton created Russia collusion story

Memos show Clinton-DNC effort to tie Trump to Russia began as early as May 2016 in Ukraine, but Mueller didn’t include in final report.

https://justthenews.com/accountability/russia-and-ukraine-scandals/mueller-gathered-evidence-dnc-clinton-dirty-trick-russia

@RealCandaceO: Nikita Khrushchev was correct“You Americans are gullible. We’ll keep feeding you small doses of socialism until you wake up and find you already have communism. We won’t have to fight you. We’ll so weaken your economy until you fall like overripe fruit into our hands”.

Jack Nicklaus questions COVID death toll, took hydroxychloroquine to combat his own virus symptoms – The golfer said he and his wife battled the coronavirus in March

    “The hospital gets more money with COVID death than they do another death,” the golf legend told the newspaper. “I’m sure there’s been a lot of that.”…

https://www.foxnews.com/sports/jack-nicklaus-covid-death-toll-hydroxychloroquine-virus-symptoms

@lawyer4laws on Friday: Considering tomorrow is Halloween… [Funny but poignant clip from Bob Hope movie: “Ghost Breakers”]  “It’s worse than horrible, because a zombie has no will of his own.  You see them sometimes, walking around blindly with dead eyes, following orders, not knowing what they do, not caring.”  Bob Hope retort: “You mean like Democrats!” https://twitter.com/lawyer4laws/status/1322367896664887300

We’re shaken and stirred that Bond, James Bond has passed.  RIP Sean Connery, with Paul Newman and Bogie our favorites.

Well that is all for today

I will see you TUESDAY night.

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