NOV 6//SEEMS THAT WE HAVE A MASSIVE VOTE FRAUD ON OUR HANDS IN THE USA (DATA PROVIDED) GOLD UP $5.30 TO $1945.45//SILVER UP 47 CENTS TO $25.45//GOLD TONNAGE UP TO 12.115 TONNES//SILVER OZ STANDING; 3.535 MILLION OZ//CORONAVIRUS UPDATE LOOKS LIKE BIDEN “WON” THE ELECTION///CHINA VS USA//

GOLD:$1945.45 UP  $5.30   The quote is London spot price

Silver:$25.45 UP $0.47   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1952.20  LONDON SPOT  4:30 pm

ii)SILVER:  $25.61//LONDON SPOT  4:30 pm

 
 
 

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation.
 
 
 

CLOSING FUTURES PRICES:  KEY MONTHS

NOV GOLD:  1950.50  CLOSE 1.30 PM//   SPREAD SPOT/FUTURE OCT /:  BACKWARD 25 CENTS

DEC. GOLD  $1951.90   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $1.25/ CONTANGO   //  $1.25  ABOVE NORMAL CONTANGO//GOOD FOR EFP ISSUANCE.

CLOSING SILVER FUTURE MONTH

SILVER NOV COMEX CLOSE;   $25.61…1:30 PM.//SPREAD SPOT/FUTURE SEPT//  :  9 CENTS CONTANGO

SILVER DECEMBER  CLOSE:     $25.63  1:30  PM SPREAD SPOT/FUTURE DEC.       :   11  CENTS PER OZ  CONTANGO (   8 CENTS ABOVE NORMAL CONTANGO//NOT GOOD FOR EFP ISSUANCE

XXXXXXXXXXXXXXXXXXXXXXXXX

 

COMEX DATA

 
 
 

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

receiving today: 58/116

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,945.300000000 USD
INTENT DATE: 11/05/2020 DELIVERY DATE: 11/09/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
435 H SCOTIA CAPITAL 26
657 C MORGAN STANLEY 16
657 H MORGAN STANLEY 38
661 C JP MORGAN 58
690 C ABN AMRO 11
737 C ADVANTAGE 26 11
800 C MAREX SPEC 22 3
878 C PHILLIP CAPITAL 19
905 C ADM 2
____________________________________________________________________________________________

TOTAL: 116 116
MONTH TO DATE: 3,788

issued:0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

 
 

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 116 NOTICE(S) FOR 11,600 OZ  (0.3608 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  3788 NOTICES FOR 378,800 OZ  (11.782 tonnes) 

SILVER//NOV CONTRACT

 

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

total number of notices filed so far this month: 482 for 2,410,000  oz

BITCOIN MORNING QUOTE  $15,556   DOWN 211

BITCOIN AFTERNOON QUOTE.  :$15,156  UP 1020 DOLLARS .

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

WITH GOLD UP $5.30  AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

NO CHANGES IN GOLD INVENTORY AT THE GLD//

INVENTORY RESTS AT:

GLD: 1,252.42 TONNES OF GOLD//

 

WITH SILVER UP  $0.47 CENTS TODAY: AND WITH NO SILVER AROUND:

NO CHANGES IN SILVER INVENTORY AT THE SLV

SLV: 561.418  MILLION OZ./

 

XXXXXXXXXXXXXXXXXXXXXXXXX

 

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

IN SILVER THE COMEX OI ROSE BY A HUMONGOUS SIZED 6588 CONTRACTS FROM 151,363 UP TO 157,951, AND CLOSER TO  OUR NEW RECORD OF 244,710, (FEB 25/2020. THE GAIN IN OI OCCURRED WITH OUR STRONG $1.21 ADVANCE IN SILVER PRICING AT THE COMEX.IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO ATTEMPTED BANKER AND SOME ALGO SHORT COVERING, COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL. WE  HAD ZERO LONG LIQUIDATION, AND A STRONG INCREASE IN  STANDING AT THE COMEX FOR NOV.  WE HAD AN ATMOSPHERIC NET GAIN IN OUR TWO EXCHANGES OF 7687 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1099, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  1099, MARCH 0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1099 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.

3.535 MILLION OZ INITIAL STANDING IN NOV.

THURSDAY, 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 $1.21) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS WE HAD AN ATMOSPHERIC NET GAIN IN OUR TWO EXCHANGES (7687 CONTRACTS). NO DOUBT THE STRONG GAIN 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) STRONG COMEX GAIN  AND  iv) ZERO  LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

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

3561 CONTRACTS (FOR 5 TRADING DAY(S) TOTAL 3561 CONTRACTS) OR 17.805 MILLION OZ: (AVERAGE PER DAY: 713 CONTRACTS OR 3.561 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF NOV: 17.805 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 2.54% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,545.56 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                    17.805 MILLION OZ (STARTING TO INCREASE AGAIN)

RESULT: WE HAD A HUMONGOUS SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 6588, WITH OUR HUGE $1.21 GAIN IN SILVER PRICING AT THE COMEX ///THURSDAY.THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1099 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE LOST AN ATMOSPHERIC SIZED 1099 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR  STRONG $1.21 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 1099 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED INCREASE OF 6588 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $1.21 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $25.05 // WEDNESDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.794 BILLION OZ TO BE EXACT or 113% of annual global silver production (ex Russia & ex China).

FOR THE NEW NOV  DELIVERY MONTH/ THEY FILED AT THE COMEX:NOTICE(S) FOR 10,000 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 ROSE BY A HUMONGOUS SIZED 20,039 CONTRACTS TO 569,421AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE HUGE SIZED GAIN IN COMEX OI OCCURRED WITH OUR STRONG GAIN IN PRICE  OF $51.45 /// COMEX GOLD TRADING// THURSDAY. WE  HAD STRONG BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR/GOOD SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE  HAD ZERO LONG LIQUIDATION AND A STRONG GAIN IN GOLD OUNCES STANDING AT THE COMEX….THIS ALL HAPPENED WITH OUR STRONG GAIN IN PRICE OF $51.45. 

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  74//

WE HAD AN ATMOSPHERIC SIZED GAIN OF 24,054 CONTRACTS  (74.810 TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A FAIR/GOOD SIZED 4015 CONTRACTS:

CONTRACT .  DEC: 4015; FEB: 0  ALL OTHER MONTHS ZERO//TOTAL: 4015.  The NEW COMEX OI for the gold complex rests at 568,370. 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 AN ATMOSPHERIC SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 24,054 CONTRACTS: 20,039 CONTRACTS INCREASED AT THE COMEX AND 4015 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 24,054 CONTRACTS OR 74.81 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A FAIR/GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4015) ACCOMPANYING THE HUMONGOUS SIZED GAIN IN COMEX OI  (20,039 OI): TOTAL GAIN IN THE TWO EXCHANGES:  25,105 CONTRACTS. WE NO DOUBT HAD 1 ) SOME BANKER SHORT COVERING AND CONSIDERABLE ALGO SHORT COVERING ,2.)A HUMONGOUS INCREASE IN OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT NOV. MONTH TO 12.115 TONNES3)  ZERO LONG LIQUIDATION ;4) HUMONGOUS COMEX OI GAIN AND 5) FAIR/GOOD SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS OCCURRED WITH  OUR STRONG GAIN IN GOLD PRICE TRADING//THURSDAY//$51.45.

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 : 13,205 CONTRACTS OR 1,320,500 oz OR 41.07 TONNES (5 TRADING DAY(S) AND THUS AVERAGING: 2275 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 5 TRADING DAY(S) IN  TONNES: 41.07  TONNES

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

THUS EFP TRANSFERS REPRESENTS 41.07/3550 x 100% TONNES =1.156% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE   3,718.8 TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; : 57100.19 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:                        41.07 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, ROSE BY A HUGE SIZED 6588 CONTRACTS FROM 151,363 UP TO 157,951 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

THE HUGE SIZED GAIN 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 INCREASE IN  STANDING  FOR SILVER AT THE COMEX FOR NOV., AND 4) ZERO LONG LIQUIDATION 

EFP ISSUANCE 1099 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 1099 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1099 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 6588 CONTRACTS TO THE 1099 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A HUMONGOUS SIZED GAIN OF 7687 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 38.44 MILLION  OZ, OCCURRED WITH OUR $1.21 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)FRIDAY MORNING/ THURSDAY NIGHT: 

SHANGHAI CLOSED DOWN 7.67 PTS OR .24%   //Hang Sang CLOSED UP 17.05 PTS OR .07%    /The Nikkei closed UP 219.95 POINTS OR 0.91%//Australia’s all ordinaires CLOSED UP 0.80%

/Chinese yuan (ONSHORE) closed /Oil DOWN TO 37.52 dollars per barrel for WTI and 39.74 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED UP  AGAINST THE DOLLAR AT 6.6088. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5949 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 BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

i

 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST  ROSE BY BY A HUMONGOUS 20,039 CONTRACTS TO 569,421 MOVING CLOSER TO   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 INCREASE OCCURRED WITH OUR POWERFUL RISE OF $51.45 IN GOLD PRICING /THURSDAY’S COMEX TRADING/). WE ALSO HAD A GOOD/FAIR EFP ISSUANCE (4015 CONTRACTS).   WE ALSO HAD  1)  ATTEMPTED BANKER SHORT COVERING,  2)   ZERO  LONG LIQUIDATION  AND 3)  A MONSTER GAIN  IN GOLD STANDING AT THE  COMEX  ( NOW STANDING AT 12.115 TONNES)//NOV. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED AN ATMOSPHERIC SIZED GAIN ON OUR TWO EXCHANGES OF 24,054 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 74

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A GOOD/FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 4015 EFP CONTRACTS WERE ISSUED:     DEC 4105; FEB// ’21 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4105  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.

IT SEEMS THAT OUR BANKER FRIENDS ARE LOATHE TO ISSUE EFPS DESPITE THE LOW PREMIUM ON FUTURE GOLD CONTRACTS.

 

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 24,054 TOTAL CONTRACTS IN THAT 4015 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A HUMONGOUS SIZED 20,039 COMEX CONTRACTS.. THE BIG NEWS IS THE STRONG LEVEL OF NOV 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ( 12.115 TONNE) AS NOVEMBER IS A NON ACTIVE AND GENERALLY A VERY POOR DELIVERY MONTH

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $51.45).  AND, THEY WERE  UNSUCCESSFUL IN FLEECING ANY LONGS. AS MENTIONED ABOVE THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED   78.087 TONNES,

NET GAIN ON THE TWO EXCHANGES :: 25,105 CONTRACTS OR 2,510,500 OZ OR 78.087 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:  568,370 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.83 MILLION OZ/32,150 OZ PER TONNE =  1767 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1767/2200 OR 80.34% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX TODAY: 276,944 contracts// volume ok////

CONFIRMED COMEX VOL. FOR YESTERDAY:  335,655 contracts//  volume: ok //most of our traders have left for London

 

NOV 6 /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
 
5337.066 oz
Delaware
Manfra
 
 
 
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz 0
OZ
No of oz served (contracts) today
 
116 notice(s)
 
 11,600 OZ
(0.3608 TONNES)
 
 
 
 
No of oz to be served (notices)
107 contracts
(10700 oz)
0.3328 TONNES
 
Total monthly oz gold served (contracts) so far this month
3788 notices
 
378800 OZ
11.7820 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 

We had 0 deposit into the dealer

 
total deposit: nil oz

 

total dealer withdrawals: nil oz

 

we had 0 deposit into the customer account

total customer deposit:  NIL  oz

 

we had 2 gold withdrawals from the customer account:

i) Out of Delaware: 128.604 oz

ii) Out of Manfra:  5208.462 oz

total withdrawals:  5337.066 oz

 

We had 0  kilobar transactions  +

ADJUSTMENTS: 1 // 

customer to dealer:

9913.300 oz

The front month of NOV registered a total of 223 contracts for a LOSS of 1405 contracts.  We had 1515 notices filed on Thursday so we gained a whopping 110 contracts or 11,000 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 GAINED 5669 contracts UP to 409,466 contracts.  We will be watching December closely from this day forth. January gained 35 contracts to stand at 55 contracts.

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR NOVEMBER (12.115 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  116 notices filed today for  11600 oz OR 0.3608 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 116  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 58 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 (3788) x 100 oz , to which we add the difference between the open interest for the front month of  NOV (223 CONTRACTS ) minus the number of notices served upon today (116 x 100 oz per contract) equals 389,500 OZ OR 12.115 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 (3788, x 100 oz +223 OI) for the front month minus the number of notices served upon today (116) x 100 oz which equals 389,500 oz standing OR 12.115 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).

We gained 110 contracts or an additional 11,000 oz will search out metal on this side of the pond.

 

NEW PLEDGED GOLD:  BRINKS

600,054.816, oz NOW PLEDGED  SEPT 15.2020/HSBC  18.644 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)

268,020.745 oz  JPM  8.336 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:  1,606,387.740 oz                                     49.96 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 489.57 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 12.115 tonnes

CALCULATION OF REGISTERED GOLD THAT CAN BE SETTLED UPON:

 
total registered or dealer  17,346,319.821 oz or 539.85tonnes
 
 
total weight of pledged:  1,606,387.740 oz or 49.96 tonnes
 
 
thus:
 
registered gold that can be used to settle upon: 15,739,932..0  (489,57 tonnes)
 
 
 
true registered gold  (total registered – pledged tonnes  15,739932.0 (489.57 tonnes)
 
 
 
total eligible gold:  20,191,553.177 oz (628.04 tonnes)
 
 

total registered, pledged  and eligible (customer) gold  37,537,229.107 oz 1,167.56 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1041.22 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 6/2020

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
10,033.130 oz
 
CNT
 
 
 
 
 
Deposits to the Dealer Inventory
nil oz
 
 
 
 
 
 
Deposits to the Customer Inventory
 
nil
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
2
 
CONTRACT(S)
(10,000 OZ)
 
No of oz to be served (notices)
225 contracts
 1,125,000 oz)
Total monthly oz silver served (contracts)  482 contracts

 

2,410,000 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 everybody else: 0

 

JPMorgan now has 190.787 million oz of  total silver inventory or 49.71% of all official comex silver. (190.787 million/383.747 million

total customer deposits today:  nil   oz

we had 1 withdrawals:

i) Out of CNT:  10,033.130 oz
 
 

total withdrawals; 10,033.130    oz

We had 0 adjustment

Total dealer(registered) silver: 134.855 million oz

total registered and eligible silver:  383.747 million oz

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

November saw a GAIN OF 51 notices UP to 227 contracts. We had 1 notices filed on THURSDAY so we gained 52 contracts or 260,000 additional silver oz will stand in this non active delivery month of November.

December saw a GAIN of 1812 contracts UP to 112,707 contracts. January saw a GAIN of 15 contracts UP to 134.

 
 

The total number of notices filed today for the NOV 2020. contract month is represented by 2 contract(s) FOR 10,000 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 482 x 5,000 oz = 2,410,000 oz to which we add the difference between the open interest for the front month of OCT( 227) and the number of notices served upon today 2x (5000 oz) equals the number of ounces standing.

Thus the NOV standings for silver for the NOV/2019 contract month: 482 (notices served so far) x 5000 oz + OI for front month of NOV  (227)- number of notices served upon today (2) x 5000 oz of silver standing for the NOV contract month .equals 3,535,000 oz. ..VERY STRONG FOR A NON ACTIVE  NOV MONTH.

WE GAINED A STRONG 52 CONTRACTS OR AN ADDITIONAL 260,000 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 :129,742 CONTRACTS // volume  strong////

FOR YESTERDAY  121,645  ,CONFIRMED VOLUME//  very strong//

YESTERDAY’S CONFIRMED VOLUME OF 121,645 CONTRACTS EQUATES to 0.608 billion  OZ 86.8% 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- 3.44% ((Nov 6/2020)

2. Sprott gold fund (PHYS): premium to NAV  RISES TO -1.01% to NAV:   (NOV 6/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/3.44%

(courtesy Sprott/GATA

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

NAV 20.11 TRADING 19.52///NEGATIVE 2.92

END

And now the Gold inventory at the GLD/

NOV 6/WITH GOLD UP $5.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1252.42 TONNES

NOV 5/WITH GOLD UP $51.45 TODAY: STRANGELY A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.5 TONNES FROM THE GLD////INVENTORY RESTS AT 1252.42 TONNES

NOV 4/WITH GOLD DOWN $9.35 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1255.92 TONNES

NOV 3//WITH GOLD UP $16.85 TODAY:  STRANGE!!! A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 1.75 TONNES FROM THE GLD////INVENTORY RESTS AT 1255.92 TONNES

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

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at

NOV6/ GLD INVENTORY 1252.42 tonnes

LAST;  941 TRADING DAYS:   +311.87 NET TONNES HAVE BEEN ADDED THE GLD

LAST 841 TRADING DAYS// +489.45  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY.

 

end

Now the SLV Inventory

NOV 6/WITH SILVER UP 47 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.418 MILLION OZ//

NOV 5/WITH SILVER UP $1.21 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.418 MILLION OZ..

NOV 4/WITH SILVER DOWN 43 CENTS TODAY: TWO HUGE CHANGE IN SILVER INVENTORY AT THE SLV:  A) WITHDRAWAL OF 240,000 OZ FROM SLV//// AND THEN B) A DEPOSIT OF 1.83 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 561.418 MILLION OZ

NOV 4/WITH SILVER DOWN 43 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV:  A WIHDRAWAL OF 240,000 OZ FROM SLV////INVENTORY RESTS AT 559.558 MILLION OZ

NOV 3/WITH SILVER UP 29 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 559.798 MILLION OZ///

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//

NOV 6.2020:

SLV INVENTORY RESTS TONIGHT AT

561.418 MILLION OZ

 
 

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

[Video] Why High Net Worth Investors are Opting for Physical Gold Vs ETFs, Digital Gold & Crypto-Currencies

As we continue to await the official result of the US Election, in the short-term financial markets remain volatile.

However, today Mark O’Byrne is talking with David Bell of PCD Club about why the current uncertainty in global financial markets has High Net Worth Investors seeking out physical gold coins and bars in preference to ETF’s, Digital Gold and Crypto-Currencies.

 

NEWS and COMMENTARY

Gold holds firm as Biden leads in White House race

Amid U.S. election uncertainty, Fed likely to lay low this week

S&P 500 futures rise as U.S. election suggests less regulatory risk

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

04-Nov-20 1888.55 1900.15 1455.69 1462.17 1616.41 1621.97
03-Nov-20 1899.85 1908.30 1462.31 1464.05 1624.37 1628.73
02-Nov-20 1886.75 1889.90 1460.34 1463.16 1620.72 1624.50
30-Oct-20 1875.80 1881.85 1448.12 1453.92 1607.19 1611.24
29-Oct-20 1876.85 1870.30 1444.24 1447.05 1600.58 1601.16
28-Oct-20 1896.85 1869.95 1461.71 1439.30 1614.22 1593.38
27-Oct-20 1898.90 1905.70 1458.73 1461.29 1607.80 1611.60
26-Oct-20 1901.60 1898.45 1456.44 1460.29 1609.70 1607.61
23-Oct-20 1910.60 1903.65 1458.74 1457.05 1612.36 1608.20
22-Oct-20 1916.85 1900.95 1463.71 1451.76 1618.97 1608.39

Buy gold coins and bars and store them in the safest vaults in Zurich, Switzerland with GoldCore.

Learn why Switzerland remains a safe-haven jurisdiction for owning precious metals. Access Our Most Popular Guide, the Essential Guide to Storing Gold in Switzerland here

Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here

end

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

* * *

iii) Other physical stories:

https://www.jsmineset.com/category/generaleditorial/

 

Precious Metals Rise, As We Glide Thru Time

 

Posted November 6th, 2020 by J. Johnson & filed under General Editorial.

 

Great and Wonderful Friday Morning Folks,

 

      After a day of multiple exposed voter fraud activity, and a restricted rise in precious metals pricing, Gold continues to shine with the trade at $1,954 up $7.40 after reaching up to $1,959.10 with the low at $1,937.20. Silver leads the percentages with the trade at $25.855, up 66.4 cents with the high at $25.955 and the low right close to the double zeros at $25.01. The US Dollar is finally starting to sink with the value pegged (by those inside the Index) at 92.32, down 19.6 points and up from the 92.245 low with the high watermark at 92.825. Of course, all this happened before 5 am pst, the Comex open, the London close, and after Trump laid it all out during yesterday’s white house press conference. Come on Big Red Release Button!

 

      World prices for Gold are on the upswing with Venezuela’s last trade at 19,515.58 Bolivar, a gain of 332.59 overnight with Silver gaining 11.086 Bolivar with the last price at 258.227. Argentina’s currency now has Gold’s value held at 154,543.24 A-Peso’s, gaining 2,851.23 with Silver adding on another 9.08 A-Peso’s with the last trade at 2,044.89. Gold under the Turkish Lira added another 438.82 T-Lira, leaving the last trade at 16,664.16 with Silver’s last price held at 220.480 T-Lira, proving a gain of 11.441.

 

      November Silver’s Delivery Demands now shows a count of 227 fully paid for 5,000-ounce contracts waiting for receipts and with a Volume of 46 already up on the board with a trading range between $25.91 and $25.20 with the last buy at the high, up 73.9 cents while the papers push the futures lower (for now). Yesterday’s delivery activity happened in between $24.90 and $24.80 with the last buy at the high, gaining $1.036 while the Comex Calculated Close was tallied at $25.171, a gain of $1.30, and increasing the demand count by 51 contracts. The Overall Open Interest in Silver now has a total of 158,802 contracts, proving the issues are about to reach a pinnacle, as we see an additional 7,088 short contracts being added to go against the physicals, until there is no more real product to sell at these cheap prices. Imagine what the price would be like if these Algo’s who churn the crap out of the markets, got restricted or removed, to allow real price discovery? Imo, we could have seen a $5 gain yesterday if it wasn’t for all this additional liquidity.

 

      November Gold Delivery Demands now has 223 fully paid for 100-ounce contracts waiting for receipts and with a Volume of 206 up on the board with an early morning trading range between $1,949.30 and $1,940.80 with the last trade at the high, up only $4 while the Volume is about to exceed the physical demand count. Yesterday’s full day of ICE/Comex trades happened in between $1,948 and $1,901.70 with the last single lot buy at $1,947.90, up $53.30 with that CCC at $1,945.30, a Comex gain of $50.70 that had a total Volume of 135 up on the board, reducing the demand count by 1,422 contracts that got receipts, maybe. Let us see if our Resolute Buyer(s) can step in again and make November a major delivery month. Gold’s Overall Open Interest gained 20,069 more short contracts in order to add liquidity or (imo) we would have seen a $200 minimum gain instead, with a total count of 569,421 paper contracts to go against the physicals.

 

      As mentioned before, I think the trap was set, and the exposures of voter fraud are about to come out in full bloom, just like Hunter Biden’s laptop and those hard drives exposures. History will prove it all as we glide thru time, all we have to do now is combine the links that brought us to right here and now with all those FOIA requests Judicial Watch has mastered. Consider this 2011 Big Tech Dinner with Obama and the Fangs of Free Speech just before their warm and protective security blanket, called Section 230, was applied which allowed these communication companies to thwart our Free Speech Rights (for now).

 

   Bringing things forward, I along with many others, have seen our freedom of speech hampered by children who have no idea what the First Amendment is about at all, yet they are the ones being employed as fact checkers and reporters, to tell all of us, who have lived thru many changes and many presidential races, that we are the wrong ones, and their education tells them so. Facebook is literally removing everything supportive of Trump, including articles supporting the idea of “Widespread Ballot Fraud”, and Q is their threat too, and all they’ve ever done was post questions, pictures, and articles, that oppose their ideas of truth.

 

     All these special Trump and Truth groups, inside Facebook and Twitter, only ask questions, share articles, and ideas, like why does Biden have so many more votes than Democrat senators in swing states? Or that leaked Democratic conference call yesterday (that was supposed to be private) partially titled; “we’ll get fu*king torn apart again in 2022”. Speaker Nancy should have been removed long ago and arrested already, and I do expect her to be removed one way or another. In the meantime, Trump claims he has the proof in regards to the frauds perpetrated on the American populace and during this election cycle. Why has no other elected official in the past, ever fixed this when they even admitted there is plenty of fraud over the decades?

 

      Soon, we will see the data and we the people will determine what is true or not as it all goes thru the courts “LIVE”. In the meantime, find a smile and keep the faith. Freedom of Speech is worth fighting for, and I got a feeling, most Americans feel the same way. Enjoy the weekend, watch the metals rise, and as always …

 

Stay Strong!

Jeremiah Johnson

JeremiahJohnson@cableone.net

More J.Johnson content is available with purchase of a JSMineset subscription.

END

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

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

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

 

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

71671201

Spencer Platt | Getty Images

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

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

 

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

 
 

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

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

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

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

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

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

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

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

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

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

end

March 4.2019

Parker City News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kovel declined to comment.

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

-END-

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

 

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

… 

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

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

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

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

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

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

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

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

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

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

* * *

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

i) Chinese yuan vs USA dollar/CLOSED UP AT 6.6088 /

//OFFSHORE YUAN:  6.5949   /shanghai bourse CLOSED DOWN 7.97 PTS OR .24%

HANG SANG CLOSED UP 17.05 PTS OR .07%

2. Nikkei closed UP 219.95 POINTS OR 0.91%

3. Europe stocks OPENED ALL RED/

USA dollar index DOWN TO 92.37/Euro RISES TO 1.1868

3b Japan 10 year bond yield: FALLS TO. +.02/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 103.38/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST BELOW 17,000

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

3e WTI:: 37.52 and Brent: 39.74

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 -.64%/Italian 10 yr bond yield DOWN to 0.65% /SPAIN 10 YR BOND YIELD DOWN TO 0.09%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.29: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.80

3k Gold at $1950.45 silver at: 25.63   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 64/100 in roubles/dollar) 77.51

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 103.38 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 .9009 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0692 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 0.64%

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 0.777% early this morning. Thirty year rate at 1.539%

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

6.  TURKISH LIRA:  UP  TO 8.53..

Futures Drop, Record November Rally Fizzles As Election Gets Increasingly Contested

 

The blistering November rally, which pushed the S&P higher by nearly 8% in the first 4 days of the month, the biggest advance in the first days of the month on record, finally reversed and pared some of this week’s gains as the vote count continued but got increasingly more contested amid mounting legal complaints from President Donald Trump’s campaign. Meanwhile, just around 4am, Joe Biden edged ahead of Donald Trump in the latest batch of Georgia resultsa major shift in the Republican stronghold that hasn’t backed a Democrat for president since 1992. Biden also got closer in Pennsylvania and is still ahead in Nevada and Arizona, though Trump is catching up.

S&P futures slid 25 points, or 0.7%, to 3,480 while global stocks were in the red but near all-time highs ahead of what some expect will be a downbeat jobs report underlining the scale of the economic challenge awaiting America’s next president (full preview here).

 

The dollar and U.S. bond yields remained subdued on Friday amid a “bullish” reversal in Blue Wave expectations according to which a divided Congress – previously seen as a doomsday scenario – would limit fiscal stimulus which would pave the way for even more central bank stimulus.

MSCI’s all-country index was fractionally red after gains earlier in the week, still close to the record reached in September. At 730 a.m. ET, Dow e-minis were down 171 points, or 0.6%, S&P 500 e-minis were down 24.5 points, or 0.7%, and Nasdaq 100 e-minis were down 127 points, or 1.1%. Tech mega-caps including the FAAMGs fell about a percent in premarket trading after logging strong gains this week. The drop follows the Fed’s Thursday announcement keeping its loose monetary policy intact and again pledging to do whatever it can to sustain an economy crippled by the COVID-19 pandemic. Cannabis-related stocks, which have been identified by analysts as potential winners under a Biden administration, were among the rare gainers in early premarket trading.

“It’s not that the market is expecting something dramatic to happen, but just de-risking after a strong performance,” said Ingo Schachel, head of equity research at Commerzbank in Germany.

Despite today’s soggy moody, the S&P 500 is on course for its best week since April, while the tech-heavy Nasdaq has jumped 6.5% since the Nov. 3 election as the prospect of a policy gridlock in Washington eased worries about tighter regulations on companies.

“From here, we believe the impact of the presidential result should be relatively small,” said Lars Kreckel, global equity strategist at LGIM. “Whether Biden or Trump are in the White House, governing with a Congress that is very likely to be divided would be difficult and mean very little policy that could significantly move equity markets would be passed.”

And with Biden having taken the lead in Georgia, absent a remarkable reversal of results in the courts, risk sentiment was also underpinned by a sense that a Biden presidency would be more predictable than Trump’s even though investors saw no quick rapprochement between the United States and China on trade and other issues.

 

Biden had a 253 to 214 lead in the state-by-state Electoral College vote that determines the winner, according to most major television networks, putting him closer to the 270 Electoral College votes needed to win. In Pennsylvania, which has 20 electoral votes, Biden cut Trump’s lead to just over 18,000 by the early hours of Friday. Shortly after 4am, Biden also went ahead in Georgia, which has 16 electoral votes, leading by some 900 votes.

“The market reaction to the unfolding election news suggests that financial markets would prefer to see a constrained Biden presidency,” said Paul O’Connor, head of multi-asset at Janus Henderson Investors. “The economic backdrop to this election is one of an incomplete global recovery that remains threatened by the continued spread of Covid-19 in many major economies as well as fast-fading fiscal support measures.“

Matt Sherwood, head of investment strategy at Perpetual in Sydney, said markets had already moved to price in a Biden presidency and a divided Congress: “We can get all of the good things about a Biden presidency, such as stable leadership and foreign policy, without any of the bad things from the far Left of his party, such as taxation,” he said.

Europe’s Stoxx 600 opened 0.4% lower, with investor sentiment dimmed by the economic toll of new lockdowns in Europe to contain the coronavirus. Italy and France registered record numbers of COVID-19 cases. Deutsche Lufthansa fell 7% amid a resurgence in coronavirus cases. IT services firm Netcompany slumped more than 6% after a downbeat earnings report. On the plus side, luxury goods maker Richemont surged as much as 12% after sales rebounded in China.

Earlier in the session, Asian stocks gained, led by the energy and materials sectors as MSCI’s index of Asian Pacific shares ex-Japan rising 0.3%, near a three-year high. Most markets in the region were up, with Indonesia’s Jakarta Composite advancing 1.4% and India’s S&P BSE Sensex Index rising 1.2%, while China’s Shanghai Composite slid 0.2%. Trading volume for MSCI Asia Pacific Index members was 27% above the monthly average for this time of the day. The Topix added 0.5%, with Daikin and Kubota contributing the most to the move. Japan’s Nikkei average rose 0.9% to a 29-year high while. The Shanghai Composite Index retreated 0.2%, driven by China Life and Kweichow Moutai

On the covid front, the US became the first country to top 100,000 coronavirus infections in a single day, with Fed Chair Powell warning that mounting infection rates are a risk to the recovery. Meanwhile, France warned of a “violent” second wave as it joined European countries including Italy and Poland in reporting new highs in daily infections.

The Labor Department’s closely watched report is likely to show U.S. employers hired the fewest workers in five months in October in the absence of new fiscal stimulus and as COVID-19 infections surged.

In FX, the Bloomberg Dollar Spot Index extended declines to the lowest since May 2018 as investors waited on results from narrowing vote races in key U.S. battleground states.

The dollar traded mixed versus Group-of-10 peers; the euro climbed for the fourth day, rising past $1.1850. The New Zealand dollar led G-10 gains on the back of an improved reading on the nation’s inflation expectations, while the Aussie weakened as trade tensions with China hurt sentiment. The pound fluctuated between modest gains and losses, as optimism that a Brexit trade deal will be reached offset concern over the negative impact of a nationwide lockdown. The yen hovered near the strongest level since March after breaching a key chart level from 2016 that had only been broken in March in the years since.

U.S. bond yields drifted lower, with the 10-year Treasury yield falling to 0.773%, below the pre-U.S. election level on Tuesday. It had struck a three-week low of 0.7180% on Thursday.

Elsewhere, crude oil declined and gold edged higher. Emerging-market stocks were on track for a fifth day of gains.

Looking at the day ahead, the US jobs report is likely to be the data highlight, but there’ll also be the Canadian employment report for October, along with German industrial production and Italian retail sales for September. From central banks, we’ll hear from Bank of Canada Governor Macklem and the ECB’s Holzmann.

Market Snapshot

  • S&P 500 futures down 1.2% to 3,461.75
  • STOXX Europe 600 down 0.6% to 365.10
  • German 10Y yield fell 0.8 bps to -0.645%
  • Euro up 0.2% to $1.1848
  • Italian 10Y yield fell 2.0 bps to 0.556%
  • Spanish 10Y yield fell 0.3 bps to 0.088%
  • MXAP up 0.5% to 181.98
  • MXAPJ up 0.4% to 603.59
  • Nikkei up 0.9% to 24,325.23
  • Topix up 0.5% to 1,658.49
  • Hang Seng Index up 0.07% to 25,712.97
  • Shanghai Composite down 0.2% to 3,312.16
  • Sensex up 1.3% to 41,874.76
  • Australia S&P/ASX 200 up 0.8% to 6,190.18
  • Kospi up 0.1% to 2,416.50
  • Brent futures down 2.4% to $39.97/bbl
  • Gold spot little changed at $1,947.97
  • U.S. Dollar Index little changed at 92.45

A quick look at global markets courtesy of NewsSquawk

Asian equity markets traded mixed with the region only partially sustaining the momentum from Wall Street where the post-election rally persisted despite no declared winner yet, although Biden does remain on the cusp with 6 electoral votes shy of victory at 264 votes vs. President Trump at 214 votes. The key states still to be declared include Nevada (6 votes), Georgia (16 votes), North Carolina (15 votes) and Pennsylvania (20 votes) with Biden leading in Nevada, while the former VP dramatically caught up with President Trump in Georgia and narrowed the gap in Pennsylvania. ASX 200 (+0.8%) was lifted by strength in mining names and as financials were kept afloat, with the largest-weighted sector and shares in Macquarie unfazed by the slump in the latter’s H1 earnings, while Nikkei 225 (+1.0%) extended on gains to breach October 2018 highs and briefly print its best levels in nearly 3 decades with slight encouragement from better than expected household spending. Conversely, Hang Seng (-+0.1%) and Shanghai Comp. (-0.2%) lagged after the PBoC refrained from open market operations which resulted to a net daily drain of CNY 100bln and weekly drain of CNY 590bln, while the central bank also set the strongest currency fix in more than 2 years. Finally, 10yr JGBs were flat as prices took a breather from the mid-week surge to above the 152.00 level and with further upside capped by the gains in stocks and mixed results at the 10yr inflation-indexed JGB auction.

Top Asian News

  • China Starts Thinking About Stimulus Exit as Economy Recovers
  • World’s Largest Pension Fund Gains With Assets Near Record
  • Japan’s Households Raise Quarterly Spending by Most Since 2000
  • Yuan Is Halfway Through Erasing Losses Since Trade War Began

Equities across Europe trade lower across the board (Euro Stoxx 50 -0.6%), albeit off worst levels following a mixed APAC session as sentiment deteriorates throughout the European morning – with the US Presidential race winner still undeclared but tilting further towards Biden. The latest update from some poll-watchers suggested a blue flip in the state of Georgia with over 99% of votes tallied. Assuming this tally corresponds with the final outcome for Georgia (16 EC votes) and if Arizona (11 EC votes) is awarded to Biden (as some desks have), this would place the Democratic candidate on 280 votes and thus surpassing the 270 required for Presidency. However, if you omit Arizona, then Biden would be on 269 electoral college votes. As a reminder, officials in the state have remarked that it could be several weeks before we get a final result given how close the race is regarding Georgia. Meanwhile, the latest implied probabilities from Betfair Exchange point to a +90% chance of a Biden victory. Elsewhere, the Senate rate remains neck and neck as each side clutch 48 seats, with 4 still hanging in the balance. US equity futures (ES -0.8%, NQ -1.2%, YM -0.6%, RTY -0.5%) have been drifting lower since European players entered the fray, with traders also weighing a contested outcome as Trump continues to condemn the legitimacy of the voting system. Back to Europe, the region conforms to the risk aversion as bourses extended on the downside seen at the cash open, whilst losses remain relatively broad-based across. Sectors are now all in the red after a mixed open, with Travel & Leisure at the bottom of the pile as it continues to bear the brunt of COVID-related lockdown measures, with IAG’s (-1.8%) British Airways also cancelling all flights from Gatwick airport for the month amid England’s restrictions. Meanwhile, losses in the Telecoms sectors are cushioned on the back of stellar earnings from T-Mobile (+6.4% pre-mkt) which in turn bolstered its majority shareholder Deutsche Telekom (+2.4%), who owns some 43.5% of TMUS. The insurance sector is also faring better than some of its peers as Allianz (+0.1%) rose post-earnings, but the stock has waned off highs. Other earnings-related movers include Richemont (+8.3%) who saw a positive trend in Q2 following the sharp decline in the prior month, in turn supporting its peer Swatch (+1.0%).

Top European News

  • German Industrial Production Rose for Fifth Month in September
  • EU’s Green Bonds Set to Preempt Rules That Will Govern Them
  • Novo Nordisk Agrees to Buy Emisphere in $1.8 Billion Deal
  • U.K. House Prices Climb Most Since 2016 Ahead of New Lockdown

In FX, the Kiwi is consolidating recent gains in the high 0.6700 zone vs its US counterpart and has peered just above 0.6800 in wake of an uptick in NZ Q4 inflation expectations overnight, but the Nzd is also benefiting from tailwinds via the Aussie cross amidst more angst between China and its Antipodean neighbour on the trade front. Indeed, Aud/Nzd has retreated to test 1.0700 from around 1.0760 at one stage and Aud/Usd is losing momentum have topped out a few pips over 0.7280 despite another firm PBoC Cny fix. For the record, the RBA’s SOMP merely underscored dovish guidance that came alongside Tuesday’s multi-pronged policy stimulus, so hardly impacted.

  • USD – Little respite for the Dollar or reprieve from the FOMC, as the wait to see final results of the US Presidential Election continues. In fact, the DXY has slipped into another lower range even though several major peers are losing momentum independently or in line with a downturn in broad risk sentiment. The index has bounced off worst levels within a 92.823-435 range, and perhaps looking idle sideways into NFP unless any of the last remaining states declare and push front-runner Biden technically through the tape.
  • CAD/GBP – The Loonie has lost traction from oil, but retaining grip of the 1.3000 handle vs its US rival in the run up to Canadian jobs data, but the Pound appears a bit more precarious above 1.3100 given latest Brexit updates from EU chief negotiator Barnier effectively laying the blame for no progress on fishing or the LPF at the UK’s door.
  • EUR/CHF/JPY – All firmer against the Buck, with the Euro still within striking distance of a cluster of late October peaks that stand in the way of last month’s apex circa 1.1880, while the Franc is hovering just shy of 0.9000 and Yen has accelerated beyond 103.50 following firmer than forecast Japanese household spending data and somewhat dismissive rhetoric from PM Suga on exchange rates aside from expressing the importance of stability.
  • SCANDI/EM – Collapsing crude prices and contagion in stocks, or vice-versa are obvious factors behind a rebound in Eur/Nok through 10.9000, but a fall in Norwegian manufacturing output hot on the heels of yesterday’s downbeat Norges Bank economic outlook is also weighing on the Crown. Elsewhere, the Rub is also weaker alongside Brent that has slipped under Usd 40/brl, but the Try is not gleaning any comfort from cheaper oil at all.
  • RBA Statement on Monetary Policy noted the board is prepared to expand bond buying if required and that it is not contemplating further lowering rates with little to be gained from moving to negative rates. Furthermore, it committed to not increase rates until inflation is sustainably in 2%-3% target band, Furthermore, it sees GDP Y/Y growth at -4% in Q4 2020, +5% in Q4 2021 and +4% in Q4 2022, while it sees Trimmed Mean CPI Y/Y at 1% in Q4 2020, 1% in Q4 2021 and 1.5% in Q4 2022. (Newswires)

In commodities, WTI and Brent front-month futures post losses in tandem with the overall sentiment across the market and with complex-specific news flow on the lighter side. Again, price action throughout the day is likely to be dictated by macro-themes in the absence of OPEC/OPEC+ updates as producers continue to balance supply and demand risks heading into a crucial month for the members. Consensus thus far points to an extension of current cuts through Q1 21, with some murmurs of deeper cuts, albeit this has not been agreed on nor confirmed by ministers. WTI Dec loses ground below USD 38/bbl (vs. high 38.61/bbl) while Brent Jan yielded the USD 40/bbl handle (vs. high 40.70/bbl). Elsewhere, spot gold and silver drift off worst levels on the back of a softer Buck, with the former now north of 1950/oz to the upside after climbing from a low of ~1935/oz, whilst spot silver gains ground above USD 25.50/oz. The softer Dollar has also benefitted LME copper, which remains around session highs heading into the US open.

US Event Calendar

  • 8:30am: Change in Nonfarm Payrolls, est. 592,500, prior 661,000
    • Change in Private Payrolls, est. 685,000, prior 877,000
    • Change in Manufact. Payrolls, est. 55,000, prior 66,000
    • Unemployment Rate, est. 7.6%, prior 7.9%
    • Average Hourly Earnings MoM, est. 0.2%, prior 0.1%
    • Average Hourly Earnings YoY, est. 4.5%, prior 4.7%
    • Average Weekly Hours All Employees, est. 34.7, prior 34.7
    • Labor Force Participation Rate, est. 61.5%, prior 61.4%
    • Underemployment Rate, prior 12.8%
  • 10am: Wholesale Inventories MoM, est. -0.1%, prior -0.1%; Wholesale Trade Sales MoM, est. 1.05%, prior 1.4%
  • 3pm: Consumer Credit, est. $7.75b, prior $7.22b deficit

Top Overnight news from Bloomberg

  • The hard-fought presidential contest between Donald Trump and Joe Biden now depends on the outcomes of a handful of states, each with varying rules on counting votes and contesting results — delaying the declaration of a winner
  • The Justice Department is looking into allegations by President Donald Trump’s campaign of voter fraud in Nevada. Democratic nominee Joe Biden is closing in on the 270 electoral votes he needs to win the presidency, while Trump’s path to re-election has narrowed
  • U.K. house prices climbed the most since 2016 last month, pushing average values to a record ahead of the renewed restrictions to contain coronavirus
  • The U.K. is imposing a two-week quarantine on travelers from Denmark, following an outbreak of a rare mutation of Covid-19 in the Nordic country’s mink farms
  • The Bank of England and U.K. Treasury are both investigating a possible leak detailing the central bank’s plans to expand its bond buying by a surprising amount
  • Hard-pressed commodity traders will get no respite at all next week as the U.S. electoral drama plays out ahead of a very busy agenda. There’ll be key insights into energy markets, a raft of top central bank speakers, and the latest on crop markets just as foodstuffs stage a powerful rally. The backdrop is the rapidly escalating coronavirus pandemic

DB’s Jim Reid concludes the overnight wrap

On the third day of counting votes we saw Joe Biden continue to close the gap in Pennsylvania, now trailing President Trump by 0.6% with 6% of the vote to go. Yesterday at the same time Biden trailed by 3%, with 11% of the vote left to be counted. That vote continues to come from predominately Democratic counties and is almost entirely mail-in votes which Democratic voters favoured. A win in Pennsylvania would give Mr Biden over 270 electoral college votes and clinch the presidency, regardless of the outcomes in other states. We’re not sure if they’ll stop the count overnight but if not at this run rate Biden could be in front by around 8am London time and effectively called as the new President.

Biden has also made up ground in Georgia, where yesterday he was behind by 0.6% with 5% uncounted, he now is essentially tied – less than 0.1% behind – with under 2% of the vote to go. It is going to be very tight and likely go to a recount. Nevada drifted toward Biden as well with his lead moving from 0.6% to 0.9% in the last day, though 11% of the vote is still remaining and there may not be a full count until the end of the weekend. There was no movement from North Carolina but most continue to expect President Trump to carry the state. Lastly there was some positive movement for President Trump, who was down 3% to Biden in Arizona yesterday and has closed to within 1.5% as of now.

On the Senate front, we learned that the second Georgia Senate seat will go to a runoff in January. This means that both senate seats in that state will be in play on January 5th. While Republican candidates likely come in as slight favourites into those races, the Democrats could be competitive. Also without President Trump or Mr Biden at the top of the ticket there may be a very different level of voter enthusiasm and turnout. Either way they are likely to be heavily competitive and expensive Senate races as Democrats will see it as an outside shot at getting slim control of the Senate (50:50 with VP breaking the tie) if Mr Biden wins the presidency.

Back to normal life and yesterday’s Fed meeting received the lowest amount of fanfare in quite some time as attention remained on the election counts. The FOMC kept the fed funds target rate at 0-0.25%, where it’s been since March, while maintaining their bond purchases at $120bn per month. For a second meeting in a row, Fed Chair Powell stressed the need for further fiscal stimulus. “I think we’ll have a stronger recovery if we can just get at least some more fiscal support,” Powell said in the ensuing press conference. He also noted that the recent rise in covid-19 cases both domestically and abroad represent risks to the economic outlook over the medium term. Notably, market participants were clearly focused on the election count as there was little market movement on the back of the release and presser.

Against this backdrop, global equity markets continued to surge, with the S&P 500 up another +1.95% and to a 3-week high, while the VIX fell by a further -2.0pts to bring its decline since the start of the week to over 9pts (now 27.6). It was a similar story in Europe too, where the STOXX 600 climbed +1.05% with the DAX (+1.98%) and the CAC 40 (+1.24%) also seeing major advances. Over in sovereign bond markets, US Treasuries pared back early gains as 10yr yields closed flat at 0.763%, while in Europe, yields on 10yr bunds (+0.1bps) and gilts (+2.7bps) also moved higher. And in FX, the dollar continued to weaken, with the dollar index falling -0.94% in its worst day since July.

Overnight in Asia the rally has run out of a bit of steam with futures on the S&P 500 and Nasdaq down -0.61% and -1.08% respectively. Other markets are also largely trading lower outside of the Nikkei which is up +0.97%. The Hang Seng (-0.25%), Shanghai Comp (-0.75%) and Kospi (-0.13%) are all down. Elsewhere, crude oil prices are down c.-2.50%. In other news, the Daily Mail has reported that Russian President Putin could quit in January amidst reports that he has Parkinson’s disease.

Though it’s likely to get a lot less attention than usual thanks to the election, we do have the US jobs report for October coming out later. Our US economists expect that nonfarm payrolls will rise by +600k, which would imply ongoing improvements in the labour market, but also be the slowest pace of job growth since the labour market recovery began in May. That should also lower the unemployment rate down to a post-pandemic low of 7.7%.

Back on central banks, the Bank of England’s MPC voted unanimously to increase their asset purchases by a further £150bn, which was above the consensus expectation for an extra £100bn, and left Bank Rate unchanged at 0.1%. Our UK economists (link here) say that the policy statement was “undoubtedly dovish”, with lower growth forecasts and stronger language on forward guidance. Indeed in the BoE’s Monetary Policy Report that was also released yesterday, they forecasted a contraction in Q4 GDP, which comes as the UK entered its second lockdown yesterday, with non-essential shops along with bars and restaurants closed once again. Oh and Golf Courses! In response to the new lockdown, Chancellor Sunak also unveiled further support for affected workers, with the furlough scheme extended until the end of March, which pays workers 80% of their salary for hours not worked.

On the coronavirus, it was announced that a national lockdown would be imposed in Greece for 3 weeks starting Saturday morning in response to rising case numbers. As part of this, primary schools would remain open, but secondary schools would close. Elsewhere, a number of other European countries reported record case numbers, including France, Italy, Poland, Austria and Romania. France’s health minister said that Covid-19 patients now account for more than 85% of French hospitals’ initial intensive-care capacity. The US saw another record number of daily infections at 126,210 in the past 24 hours with Illinois, Ohio and Michigan reporting record number of new cases amongst other states, Ohio’s governor has called state’s numbers as “shockingly high.” Meanwhile, New York state reported a positivity rate of 1.86% on Wednesday, the highest since June. Across the other side of world, Japan recorded 1046 cases yesterday the highest since August. Hokkaido, the prefecture which is seeing the most number of cases is planning to raise its coronavirus alert as soon as tomorrow and will reportedly ask restaurants in the nightlife district of Susukino to close at 10 pm.

Looking at yesterday’s data, German factory orders for September grew by a smaller-than-expected +0.5% (vs. +2.0% expected), while Euro Area retail sales in September also fell by a more-than-expected -2.0% (vs. -1.5% expected). The figures came as the European Commission’s autumn economic forecast projected a smaller economic contraction this year of -7.8% for the Euro Area (vs. -8.7% in the summer), though they revised down their 2021 forecast to +4.2% (vs. +6.1% previously). Meanwhile in the US, the weekly initial jobless claims for the week through October 31 fell to 751k (vs. 735k expected), down from an upwardly revised 758k the previous week. The continuing claims reading for the week through October 24 also fell to 7.285m, which is a post-pandemic low.

To the day ahead now, and the aforementioned US jobs report is likely to be the data highlight, but there’ll also be the Canadian employment report for October, along with German industrial production and Italian retail sales for September. From central banks, we’ll hear from Bank of Canada Governor Macklem and the ECB’s Holzmann.

3A/ASIAN AFFAIRS

i)FRIDAY MORNING/ THURSDAY NIGHT: 

SHANGHAI CLOSED DOWN 7.67 PTS OR .24%   //Hang Sang CLOSED UP 17.05 PTS OR .07%    /The Nikkei closed UP 219.95 POINTS OR 0.91%//Australia’s all ordinaires CLOSED UP 0.80%

/Chinese yuan (ONSHORE) closed /Oil DOWN TO 37.52 dollars per barrel for WTI and 39.74 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED UP  AGAINST THE DOLLAR AT 6.6088. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5949 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 BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/USA//TAIWAN

China vows to strike back after the uSA sells Taiwan Reaper droners

(zerohedge)

China Vows To Hit Back After ‘Illegal’ US Reaper Drone Sale To Taiwan Approved

 

The to be expected stern Chinese response to the recently announced MQ-9 Reaper drone sales to Taiwan came a day after the State Department’s formal approval was announced Tuesday. Beijing warned on Wednesday that any and all US arms sales to Taiwan break Chinese law and are a blatant violation of the One China principle as well as prior agreements with Washington.

The US State Department earlier this week said it has approved four armed MQ-9 Reaper drones to Taiwan in a deal worth $600 million.

Chinese foreign ministry spokesman Wang Wenbin said at a press briefing Wednesday that the sales “severely violate the one-China principle and the three U.S.-China joint communiqués,” according to UPI.

MQ-9 Reaper drone, via Reuters

He said it “seriously undermines China’s sovereignty and security interests, and sends out wrong signals to ‘Taiwan independence’ separatist forces.” He further said at a moment that multiple defense systems sales are in progress that “China firmly opposes such acts.”

Wang warned that “legitimate and necessary reactions to firmly safeguard national sovereignty and security interests” will follow, however, it remains uncertain whether Beijing has a big enough card to play (that is, equivalent to something as provocative as the US arming up a breakaway independent island right of China’s mainland).

The Trump administration defended the sales as part of “continuing efforts to modernize [Taiwan’s] armed forces and to maintain a credible defense capability.”

Specifically the maritime monitoring outfitted drones are intended to bring the American and Taiwanese militaries into closer intelligence-sharing, and as part of ‘early warning’ systems intent on deterring any Chinese attack, according to one analyst cited in a regional report Thursday.

 

MQ-9B drone via GenAtomics_ASI

Meanwhile, it’s expected that the Chinese PLA Army and Navy will continue to ramp up their presence around Taiwan, including in the contested waters of the Taiwan Strait. Over the past two months there’s been an uptick in active PLA military exercises to a degree that’s unprecedented.

China Outraged After Pompeo Removes Terrorist Label From Group Dubbed ‘Chinese ISIS’

 
 

China expressed outrage and frustration Friday after the US officially delisted the East Turkestan Islamic Movement (ETIM) as an official terror organization.

The group is a hardline Islamist group rooted in Muslim Uighur-dominant Xinjiang province that has sent foreign fighters to Syria, where it’s been observed cooperating with Syrian al-Qaeda and ISIS over the past years to try and oust Assad. It’s also believed the ETIM still has a presence in Idlib. Its ultimate goal is to erect an Islamic state in Western China and Central Asia.

 

 

Via MEMRI/The Sun: The Chinese ISIS fighters have long been documented in Syria and have vowed to return home and conquer China

In 2017 China’s Foreign Ministry estimated that 5,000 or more Uighur jihadists had gone to wage jihad in Syria, a problem which may have only grown. This brought Beijing into quiet security and defense cooperation with Assad, given China has long been worried about the return of the battle-hardened Islamic fighters.

Secretary of State Mike Pompeo late last month had ordered the East Turkestan Islamic Movement’s delisting, but which was only revealed in Thursday’s release of the Federal Register. They had been listed since 2002, which was a moment that Washington sought closer Chinese assistance in fighting the post-9/11 war on terror.

A number of Syria observers and Mideast analysts blasted the move as essentially delisting a radical group whose ideology is not far removed to that of ISIS. Throughout the war in Syria the foreign group was at times dubbed in Western press reports as “Chinese ISIS”.

The ETIM seeks an independent state based in Xinjiang govern by Sharia law instead of what it sees as “godless atheistic communism” and has over the past years conducted dozens of terror attacks in Chinese cities like Shanghai and Yunnan.

In Friday statements the Chinese foreign ministry slammed Washington’s “double standards” in the fight of global terrorism, underscoring the ETIM is among the world’s most brutal Islamic jihadist movements. Spokesman Wang Wenbin told a media briefing that “China deplores and rejects US decision”.

“The ETIM is a UN Security Council listed terrorist organization and is recognized as such by the international community,” he said referring also a UN designation. He described “violent terrorist activities, causing massive casualties and property damage” as a key reason the group is rightfully on the list.

“Fighting ETIM is an international consensus and an important part of the international counter-terrorism fight. The US was a co-sponsor of the listing of the ETIM in the UN in 1267 committee and now it is flip-flopping on its position,” he said.

ETIM has also been listed as a terrorist group in the UK since 2016:

“This once again shows those in power at Washington has double standards on counter-terrorism and has ugly two-faced approach to terrorism,” Wang added.

He further slammed the US ‘whitewashing terrorism’ whenever it suits America’s geopolitical aims. In this case it appears geared toward keeping continued pressure on Beijing regarding the ethnic Uighur issue. The US has accused China of widescale oppression of the Muslim minority in the country, including establishing a network of communist reeducation camps, which has been subject of widespread media scrutiny and reporting over at least the past year.

END

4/EUROPEAN AFFAIRS

FRANCE

Charlie Hebdo mocks Islamist terrorists with beheaded Can Can dancer cartoon

(zerohedge)

“France Will Always Be France” – Charlie Hebdo Mocks Terrorists With Beheaded Can-Can Dancer Cartoon

 

French satirical weekly magazine Charlie Hebdo published a new magazine this week, featuring three beheaded can-can dancers mocking Islamic extremism and the terrorist organizations who have been responsible for the latest string of attacks in the country.

“France will always be France,” the cover of the magazine read, comes on the heels of a series of terrorist attacks in France and Austria that have been linked to Islamic extremists.

Charlie Hebdo’s editor recently stated that the publican would continue to criticize those who want to harm France.

“We need strong actions to stop Islamism but also to condemn the slightest gesture, the slightest intolerant or hateful word toward French people of immigrant backgrounds. Because France isn’t divided between Muslims and non-Muslims, between believers and non-believers, between people with French roots and French people of immigrant backgrounds,” wrote Charlie Hebdo’s editor, who goes by the name Riss.

Last week, French President Emmanuel Macron raised the country’s terror threat level to the highest level and deployed thousands of troops to protect education facilities and religious sites after a gruesome knife attack inside a Nice church that left three people dead.

The country had been attacked “by Islamic terrorists,” Macron said last Thursday.

“If we are attacked, it is because of our values, our values of freedom and our desires not to yield to terrorism,” he said.

In October, an Islamic extremist beheaded a French middle school teacher who showed his class cartoons of the Prophet Muhammad by Charlie Hebdo during a freedom of expression lesson. And in September, two people were seriously wounded in a knife attack near the former office of Charlie Hebdo.

 

5. RUSSIAN AND MIDDLE EASTERN

AFFAIRS

 

RUSSIA

Reports from the UK indicate that Putin will step down in January due to his Parkinson’s disease

(zerohedge)

UK Media Reports Putin To Step Down In January Amid Parkinson’s Disease Fears

 

Overnight reports that 68-year old Russian President Vladimir Putin is set to unexpectedly step down early due to increasing debilitating health factors originated in the UK tabloid The Sun based in part on observations that he could be showing early symptoms of Parkinson’s disease.

“Observers who studied recent footage of Putin noted his legs appeared to be in constant motion and he looked to be in pain while clutching the armrest of a chair,” The Sun reported late last night. “His fingers are also seen to be twitching as he held a pen and gripped a cup believed to contain a cocktail of painkillers.”

However, responding to questions about the reports the Kremlin put out a statement Friday morning denying it. “No,” Kremlin Spokesman Dmitry Peskov said in response when asked about revelations from the story. “He is in excellent health,” Peskov added.

 

Via AFP
 

“There isn’t much to comment on here,” Peskov said specifically of The Sun’s article. “This is pure nonsense. The president is well.”

The initial claims were pushed in the media by a Moscow political scientist named Professor Valery Solovei, who underscored Putin is expected to retire as early as January at the urging of his family. Solovei had actually made similar claims back in 2016, which were also picked up in British media at the time. According to The Sun report:

The academic said he also understood Putin’s undisclosed partner Alina was pressuring him to quit – along with his daughters Maria Vorontsova , 35, Katerina Tikhonova, 34.

Solovei said: “There is a family, it has a great influence on him. He intends to make public his handover plans in January”.

What also fueled the speculation is that Putin introduced a new bill which would make his transition away from Russia’s highest office immediately easier. The bill would both make him a senator for life and grant of life-long immunity from any kind of prosecution, coming as part of the previously announced major shake-up and reworking of the Russian constitution under Putin.

The early retirement claims made a huge international splash, while close Kremlin observers attributed the reporting to a heap of usual fake and hyped reports on Russia that tend to originate in the West.

 

As it currently stands Putin’s term ends in 2024, but for the past couple years it’s been widely believed the constitutional reforms would actually bestow the possibility of even another term – essentially allowing Putin to stay in office for life if he desired.

No doubt Russia during this time of American vulnerability would want to project strength, and certainly Putin would want to convey power and confidence should there be transition in Washington to a Biden presidency, or for Trump’s potential next term as well. But then again UK tabloids have been known to get a lot wrong, driven mostly by pure speculation and manufactured narratives and wishful thinking.

end

 
 

6.Global Issues

CORONAVIRUS//UPDATE//GLOBE

Global COVID-19 Cases Near 50 Million As Deaths Slow After Record Jump: Live Updates

 
 

Summary:

  • US tops 100k new cases for 2nd straight day
  • Globally, world nears 49 million cases
  • Deaths slow after global record
  • JNJ launches new clinical trial
  • England rate of increase starts to slow
  • Norway’s capital imposes new restrictions
  • Singapore allows some bars to reopen

* * *

With the world still fixated on the US election, the US saw another 100k+ new COVID-19 cases yesterday, as testing continues to expand, the US has just become the first country in the world to post more than 100k new infections back-to-back.

 

Globally, the world reported nearly 600k new cases back-to-back in another record as European cases also continued to surge. Charts for the hardest-hit countries can all be seen below (courtesy of Bloomberg, which also relies on Johns Hopkins data). The number of confirmed cases globally has reached 48,590,825, according to Johns Hopkins University in Baltimore. The worldwide death toll has hit 1,231,616.

Moving back to the US, Pennsylvania coincidentally saw a record number of new cases yesterday as officials scrambled to count votes and reporters descended on the state in droves. Globally speaking, we also saw a record number of new deaths yesterday, though the number of fatalities has declined since, with 8,111 new deaths around the world.

Here’s some more COVID-19 news from Friday morning (text courtesy of Bloomberg):

  • Russia, Poland, Hungary, Austria and Romania reported surging cases. Meanwhile, U.S., infections increased 1.3% on Friday, with Iowa, North Dakota, Michigan and Colorado seeing the biggest single-day rises, Malaysia recorded its largest single-day increase of 1,755 infections on Friday, even as authorities impose tighter movement restrictions.
  • Singapore will allow some bars and nightclubs to re-open from next month in a pilot program as it takes another step toward normalization encouraged by dwindling coronavirus cases.
  • While the WHO is studying a mutation of SARS-CoV-2 found in an outbreak in Denmark’s mink population, it doesn’t share the European country’s view that the new strain may lessen the effectiveness of current Covid-19 vaccine candidates, WHO’s Executive Director Michael Ryan said at a briefing.
  • Norway’s capital has ordered that cinemas, training centers and swimming halls be closed and has banned the service of alcohol to slow a rise in infections. The curbs come after Prime Minister Erna Solberg on Thursday introduced tighter rules nationwide and implored people to stay home.
  • Johnson & Johnson will imminently start clinical trials of its Covid-19 vaccine in South Africa after getting regulatory approval, according to the co-chair of the study in the country. Meanwhile, scientists monitoring wastewater in the Western Cape province detected spikes of the coronavirus in the last three weeks as concerns grow among the government that a lack of compliance with health guidelines may trigger a second wave.
  • The rate of increase of Covid-19 infections in England is starting to slow, according to new figures published Friday by the U.K.’s Office for National Statistics. The total rate of infections rose to one in 90 in the week through Oct. 31 in England, according to new figures published Friday by the U.K.’s Office for National Statistics. While this up from the previous published rate of 1 in 100, the increase is less steep compared with previous weeks, according to ONS.
  • Romania topped 10,000 new coronavirus cases over 24 hours on Friday for the first time since the pandemic started, ahead of nationwide night-time curfew, shopping hour curbs, school closures and mandatory masks coming into force next week. “People will be unhappy with these measures, but they had to be taken before it’s too late,” the government’s virus task force official Raed Arafat said on Friday. “We still expect an increase in cases for now, so we insist to keep these measures in place for at least 30 days so they have an impact.”

end

Michael Every on the USA election, the bipartisan mood against China with respect to their handling of the virus and the war between China and Australia

(Michael Every)

Rabo: As Trump Challenges The Results, This Is Likely To Get Bumpy For Markets

 

By Michael Every of Rabobank

What a nice end to the week. Front and center, obviously, is the ongoing chaos of the US election. The latest developments are that vote margins remain razor-thin in several states, with Trump’s lead declining in Pennsylvania and Georgia, but Biden’s lead narrowing in Arizona in tandem – potentially enough that the state could, perhaps, flip back to Trump when/if all votes are finally counted, if the current vote split being seen continues. Were that to occur, the narrative, and the market, could move quickly. Recounts seem likely, however.

More importantly, Trump himself was front and center, with unprecedented claims that the election is being stolen due to orchestrated Democrat voter fraud: with litigation pending, this suggests the election will end up with judicial action one way or the other. Mainstream and social media, and Bloomberg, report these claims –an unhappy echo of the infamous 1960 Nixon–Kennedy election– as “baseless” and “falsehoods”. That may well prove to be the case, but collecting evidence for litigation in such opaque matters takes time; until then, while the president’s remarks are obviously inflammatory, the (social) media stance, right or wrong in fact, will not help calm matters given Trump also stated he had ran against “suppression” pollsters, and the mainstream media, and Big Tech.

The key implication for markets is again that this is likely to get bumpy, and drag on, and through the courts – a process already now underway in a few states, and possibly at the federal level in short order. Notably, Nixon ultimately conceded to Kennedy after losing by just 112,000 votes from 68 million in total, despite being convinced that fraud had occurred, because he did not want the country to go through a constitutional crisis. This election looks like it could perhaps be decided by as few as 12,000 votes from more than double the 1968 total. Yet judging from Trump’s words, a Nixon-style concession does not look like it is going to be repeated.

 

Over in China, the Global Times makes clear that regardless of who wins, things continue to look bleak for US-China relations: more Trumpism is seen stemming from both the Democratic and the Republican parties. It’s true that the one area of bipartisan cooperation in the US is anything China-related. Moreover, watching the least partisan US political post-mortems finds loud voices from both the Democratic and Republican parties arguing that their future lies with appealing to the working class more – which is not going to sit well with free trade and free markets. Just don’t tell the donors of either party who, like the existing gerontocracies running both, like things just the way they are, thank you very much.

That’s a sentiment obviously shared by US stocks, which have been delighted by the prospect of constitutional chaos and/or political gridlock. Forget about institutional quality; forget about fiscal stimulus; lack of effective governance is obviously the secret sauce for success. That is regardless of initial claims falling just a little yesterday, suggesting the ‘v-shaped’ labour market recovery has now stalled far below where it needs to be, a hypothesis which is likely to be confirmed by the payrolls data today. It is also regardless of the US hitting a new daily record for Covid-19 infections of 120,000. Bond yields, just as obviously, track the other way to stocks and will keep doing so – and if stocks stumble, all the more so.

On that front, yesterday’s Fed meeting did nothing, as expected. As Philip Marey notes, even the statement regarding monetary policy was identical to last time. During his press conference, Fed Chair Powell noted that in recent months the pace of recovery has moderated; and now it appears that we should not count on fiscal policy to provide much support to the economic recovery in the next two years, leaving the FOMC on their own at a time when monetary policy options are almost depleted.

It’s similar glad tidings all over: the BOE voted unanimously to maintain rates at 0.10% and to increase QE by another GBP150bn, which was above our own and the consensus expectation of GBP100bn: the total size of the APF will now rise to GBP 895bn over the course of 2021. Their economic projections were also significantly downgraded: the BOE now sees GDP contracting 11% in 2020, then growing 7.25% in 2021, and another 6.25% in 2022. In our Brit-watcher Stefan Koopman’s view, this is way too optimistic. Indeed, the British government seems to agree, and has just carried out the latest in a series of U-turns, this time to extend the expensive and historically-unprecedented jobs furlough scheme to the end of March 2021. It’s a good job the BOE is paying for all this, isn’t it? It’s an even better job that GBP doesn’t seem to mind so far. Perhaps if the UK has its own constitutional crisis over Scotland, and before that Brexit, things will look different.

Meanwhile, Australia is bracing for de facto confirmation that from today Chinese importers will introduce an “import suspension” of various Aussie goods such as barley, sugar, red wine, logs, coal, lobster, and copper ore and concentrate. The South China Morning Post says “word from custom clearance has been filtering down to importers across China, telling them that shipments could be severely delayed after Friday.” Recall that there is a signed Australia-China Free Trade Agreement in effect; luckily, the Chinese authorities have already clarified that “relevant companies reducing imports from Australia are acting on their own initiative.” One wonders if this factored into the RBA’s latest set of quarterly economic projections released today along with its Statement on Monetary Policy.

end
 
Robert email to me on the USA election..as we navigate through electoral fraud…
 
 

Viganò: America is in midst of ‘colossal electoral fraud,’ we must pray NOW to defeat enemy | Opinion | Lifesitenews

 

7. OIL ISSUES

end

8 EMERGING MARKET ISSUES

 

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

Euro/USA 1.1868 UP .0052 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 /RED

USA/JAPAN YEN 103.38 DOWN 0.230 (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 1.3113   DOWN   0.0025  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3072 DOWN .0011 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  FRIDAY morning in Europe, the Euro ROSE BY 52 basis points, trading now ABOVE the important 1.08 level RISING to 1.1868 Last night Shanghai COMPOSITE DOWN 7.97 PTS OR .24% 

//Hang Sang CLOSED UP 17.05 PTS OR .07% 

/AUSTRALIA CLOSED UP 0.802%// EUROPEAN BOURSES ALL RED

Trading from Europe and Asia

EUROPEAN BOURSES ALL RED

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 17.05 PTS OR .07% 

/SHANGHAI CLOSED DOWN 7.97 PTS OR .24% 

Australia BOURSE CLOSED UP 0.80% 

Nikkei (Japan) CLOSED UP 219.95  POINTS OR 0.91%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1951.00

silver:$25.70-

Early FRIDAY morning USA 10 year bond yield: 0.777% !!! UP 1 IN POINTS from THURSDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.539 UP 1  IN BASIS POINTS from THURSDAY night.

USA dollar index early FRIDAY morning: 92.37 DOWN 16 CENT(S) from  THURSDAY’s close.

This ends early morning numbers FRIDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  FRIDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.08% UP 1 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.02.%  DOWN 1   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.10%/UP 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD: 0.66 UP 2 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 56 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.62% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.28% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY

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

Euro/USA 1.1887  UP     .0070 or 70 basis points

USA/Japan: 103.31 DOWN .296 OR YEN UP 30  basis points/

Great Britain/USA 1.3172 UP .0034 POUND UP 34  BASIS POINTS)

Canadian dollar UP 56 basis points to 1.3028

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,CNY: closed UP 6.6118    ON SHORE  (UP)..

THE USA/YUAN OFFSHORE:  6.5897  (YUAN up)..

TURKISH LIRA:  8.51  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.02%

Your closing 10 yr US bond yield UP 3 IN basis points from THURSDAY at 0.703 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.489 UP 3 in basis points on the day

Your closing USA dollar index, 93.87 down 6  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 22.67  0.39%

German Dax :  CLOSED DOWN 88.07 POINTS OR .70%

Paris Cac CLOSED DOWN 23.11 POINTS 0.46%

Spain IBEX CLOSED DOWN 53.80 POINTS or 0.78%

Italian MIB: CLOSED DOWN 36.59 POINTS OR 0.19%

WTI Oil price; 37.40 12:00  PM  EST

Brent Oil: 39.80 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    77.36  THE CROSS HIGHER BY 0.49 RUBLES/DOLLAR (RUBLE LOWER BY 49 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.62 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 :  37.40//

BRENT :  39.70

USA 10 YR BOND YIELD: … 0.823..up 5 basis points…

USA 30 YR BOND YIELD: 1.606 up 8 basis points..

EURO/USA 1.1880 ( UP 63   BASIS POINTS)

USA/JAPANESE YEN:103.31 DOWN .298 (YEN UP 30 BASIS POINTS/..

USA DOLLAR INDEX: 92.24 DOWN 29 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3160 UP 23  POINTS

the Turkish lira close: 8.54

the Russian rouble 77.42   DOWN 0.56 Roubles against the uSA dollar. (DOWN 56 BASIS POINTS)

Canadian dollar:  1.3037 UP 46 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.62%

The Dow closed DOWN 77.11 POINTS OR 0.27%

NASDAQ closed UP 4.30 POINTS OR 0.04%


VOLATILITY INDEX:  24.58 CLOSED DOWN 3.00

LIBOR 3 MONTH DURATION: 0.213%//libor dropping like a stone

USA trading today in Graph Form

Stocks Soar To Best Election Week Since FDR, Gold Jumps, Dollar Dumps

 

US equity markets roared higher this week (best week since April) as (monetary handouts) QE hopes replaced (fiscal handouts) blue-wave hopes. Nasdaq rallied a stunning 9.5% on the week (Small Caps and The Dow lagged – only managing to gain 7%!!)…

This was the best election-Week performance for stocks since FDR was elected in 1932…

And worst election-week performance for the dollar since Bush Sr. was elected in 1988…

And best election-week for gold since the end of the gold standard

All of which must mean…

But as stocks soared, the Smart Money was leaving the bagholders behind…

 

Value stocks were trounced relative to gr

owth stocks after the election…

 

Source: Bloomberg

Gunmaker stocks soared as Biden’s odds rose…

 

Source: Bloomberg

Banks were rebuffed as mega-tech soared…

 

Source: Bloomberg

Vol collapsed across every asset class…

Source: Bloomberg

But, VIX really plunged this week, smashing the term structure back into contango (interesting that hump remains around the Senate run-off)…

Source: Bloomberg

And the volatility options market looks to be leaning towards a similar outcome of calmness following the storm…

Source: Bloomberg

Despite stock gains, Treasury yields were lower on the week (even after today’s rise) as

 

Source: Bloomberg

Intraweek, yields plunged on election night (after an initial spike). 30Y yields rose back to 1.60% today after bouncing off the 200DMA…

 

Source: Bloomberg

Interestingly, real yields surged

this week… and so did gold…

 

Source: Bloomberg

The Dollar was up on the week into the election, and dumped after…

 

Source: Bloomberg

Crashing to its lowest since May 2018…

 

Source: Bloomberg

The Turkish Lira collapsed to yet another fresh record low against the dollar…

 

Source: Bloomberg

Cryptos had a big week with Ethereum outperforming, Bitcoin Cash lagged…

 

Source: Bloomberg

With Bitcoin pushing up to around $16000 – the highest since Jan 2018…

Source: Bloomberg

A weaker dollar lifted all commodities this week…

 

Source: Bloomberg

With silver outperforming, back above $25…

 

Gold futures pushed back above $1950…

 

WTI traded up to $39 intraweek before rolling over today…

 

And finally, what happens next? 1987 or 2009?

 

a)Market trading/LAST NIGHT/USA

 
 

b)MARKET TRADING/USA//Non farm payrolls

US Unemployment Rate Unexpectedly Tumbles Below 7% As Private Payrolls Smash Expectations

 

Heading into today’s payrolls report, the high frequency data showed a marked deceleration of employment-linked indicators as the benefits from the stimulus faded…

… with Goldman warning that the October payrolls result could be a substantial disappointment. However, that was not the case with the BLS reporting that in October, the US economy added a stronger than expected 638K jobs, which while below last month’s 672K (revised) payrolls…

 

… was a 58K beat relative to expectations of 593K, boosted by a much stronger than expected 908K private job additions, more than last month’s 892K and smashing expectations of 680K…

which however was offset by a far bigger than expected drop in government payrolls, which declined by 268K, of which 138,000 was a drop in federal government jobs due to a loss of 147,000 temporary 2020 Census workers. Job losses also occurred in local government education and state government education.

And with the latest payrolls gains, the record post-covid collapse in the US labor market has now been trimmed by more than half.

 

But while the payrolls was indeed better than many had expected, and certainly stronger than the whisper number, it was the unemployment rate that had the most surprising move, tumbling by 1% from 7.9% to 6.9%, and far below the 7.6% expected.

This was as a result of a sharp drop in the number of people unemployed, which declined by 1.5 million from 12.580MM to 11.06MM in October, while the civilian labor force increased modestly from 160.1MM to 160.9MM. Thanks to the increase in the labor force, the Labor participation rate increased by 0.3% to 61.7% from 61.4%.

Among the more disappointing data, the underemployment rate for young adults aged 16 to 24 in Oct. was 18.0%, with the total unemployed aged 16-24 at 2,306,000, marginally attached workers aged 16-24 at 444,000 and employed part-time for economic reasons aged 16-24 at 1,017,000.

A key data point that has fluctuated due to the Covid pandemic was the number of workers on temporary layoffs, and this dropped substantially from 4.637MM to just 3.205MM, a continued solid improvement.

The flip side, however, is that the number of unemployed for more than 6 months continued to rise, hitting a whopping 3.6MM in October, up 1.2 million from 2.4MM the previous month.

Looking at wages, in October, average hourly earnings for all employees on private nonfarm payrolls increased by 4 cents to $29.50, and by 4.5% Y/Y, in line with expectations. Average hourly earnings of private-sector production and nonsupervisory employees rose by 5 cents to $24.82. As even the BLS admits, “the large  employment fluctuations over the past several months–especially in industries with lower-paid workers–complicate the analysis of recent trends in average hourly earnings.”

Developing

 

ii)Market data/USA

 
 

iii) Important USA Economic Stories

USA ELECTION/FRIDAY MORNING

Early morning Biden gains in Pennsylvania  (obvious fraud) as well as Georgia (fraud as well)

(zerohedge)

Biden Gains On Trump In PA, Takes Lead In Georgia, As Day Three Of Post-Election Counting Continues

 

As we head into day three of counting the ballots, Philadelphia City Commissioner Al Schmidt told CNN he expects an update in the next few hours as they kept counting through the night.

There are 50,000 votes left to be counted there, he said. Despite a dustup that was the result of observers from both the Trump and Biden campaigns have been present observing the counting process, Schmidt said. “We have no doubt when the count is finished, Senator Harris and I will be declared the winners” he added.

Here’s the most up to date map from Bloomberg:

Source: Bloomberg

In Georgia, Biden took a lead of more than 900 votes at about 0430 Friday morning: the lead has since grown to 1,096 votes. He gained the lead initially came after Clayton County in the Atlanta suburbs reported a bucket of ballots. Biden had been winning a huge proportion of the votes in that area. Other Atlanta suburbs are still reporting.

Georgia hasn’t voted for a Democrat for president since Bill Clinton in 1992, He won in the state by 13,000 votes, garnering 43% of the votes cast. With 14,097 votes left to count in Georgia President Trump’s lead over Joe Biden had evaporated to a mere 1,775 votes

In PA, Trump’s lead stood at 18,229 votes at 0600ET though it seems to steadily be shrinking. More mailed-in ballots, which Biden is winning by a healthy margin, are still expected to be counted, with many of them from the heavily Democratic city of Philadelphia and its suburbs. More mailed-in ballots are also set to be counted on Friday in Allegheny County, the home of Pittsburgh.

However, in Georgia, a local reporter summed up the situation with all the attendant frustration and vitriol. Robin Kemp, the reporter in Clayton County, acknowledged that “yes” the votes are still being counted” and that no clear winner has emerged.

If, by some miracle, Biden does pull off a victory in Georgia, it would be a historic moment for Dems. But it wouldn’t necessarily translate to a victory: Also, for readers who aren’t familiar with the other votes that take days to fully count these are validly cast ballots, just being counted now.

Biden also retains leads in the states of Nevada and Arizona, where ballots are still being counted, and mail in ballots from thousands of older retirees remain to be counted. While the MSM is branding those states as Biden upsets, with votes being counted at a glacial pace, there is still plenty of room for Trump to pull through.

With PA remaining the biggest available prize, every major network has Biden leading with at least 253 electoral votes, meaning that if he were to win Pennsylvania and its 20 electoral votes, he would have more than the 270 electoral votes needed to win the presidency. Fox News and the Associated Press have both called the race for Biden in Arizona, projecting him as the winner of that state’s 11 electoral votes, though other networks have abstained.

While the MSM seems to be fixated on Biden winning Arizona and Nevada, conservative and independent journalists have focused on the Democrats’ dragging their feet on counting the votes in PA.

While USPS proclaimed that it may have somehow lost mail-in ballots, raising the specter of an “illegitimate” vote, stock futures turned red as markets began to contemplate the ‘doomsday scenario’.

If Biden does pull away with GA…

As stock futures turn red, it seems nobody wants to even acknowledge the growing possibility of we have lightheartedly called “the doomsday scenario”. That is, if Biden wins GA and its 16 electoral votes, but loses Arizona (11) and Nevada (6), the race could ultimately come down to PA, potentially leaving either the Supreme Court, or the House, to decide the outcome of the vote.

As the legal wrangling drags on, the DOJ is looking into whether mail-in ballots in Nevada were improperly cast by people who’d moved out of the state, while a federal judge denied the Trump campaign’s emergency request to stop counting in Philadelphia. Though Trump has stumbled in court, the lawsuit claims are still arousing his base.

end
 
This is why Trump will win Pennsylvania
(Macris)

Why Trump Will Triumph In PA Litigation

 

Authored by Alexander Macris via Contemplations On The Tree Of Woe blog,

The State Supreme Court has Violated the US Constitution

If you’ve been following the mainstream media, you’ve probably read that Trump intends to file a lawsuit in Pennsylvania to “stop counting votes.” Most likely, this has been presented as an outrageous evil, unjustifiable by any standards of common decency, and grossly unconstitutional. Is that really the case? Or is it more complex than that?

There will be a lawsuit, no doubt; and it will involve a lot of votes being thrown out. The plaintiff (Trump and/or the Republicans) will win, because Pennsylvania’s highest court has almost certainly violated the Constitution of the United States. That’s why, in the weeks ahead, the Supreme Court of the United States (SCOTUS) is going to rule in favor of Trump.

 

Let’s wind the clock back about a week to explain how we got here.

On October 28, 2020, in Republican Party of Pennsylvania vs. Boockvar, SCOTUS declined “a motion to expedite consideration of a petition for a writ of certiorari”. Let’s explain what that is, and what’s at stake, and why Trump is going to follow up.

  1. A writ of certiorari orders a lower court to deliver its record in a case so that the higher court may review it.  In this case, SCOTUS was being asked to issue a writ against the Supreme Court of Pennsylvania, the highest court in that state.
  2. A petition [for a writ of certiorari] is a request by a litigant in the lower court, to a higher court, asking the higher court to order the lower court to issue the writ. In this case, the Supreme Court of Pennsylvania had decided against the Republican Party, so the Republican Party petitioned the Supreme Court of the US.
  3. Petitions can take a long time to resolve. A motion [to expedite consideration of a petition] is a request, by a litigant who has filed a petition, that the higher court accelerate its process of review. In this case, the Republican Party had filed the motion to expedite.

Translated into common English: In Boockvar, the Republican Party sent a request to the US Supreme Court to review a lower court case, and then asked them to hurry up about it. The US Supreme Court declined the motion to expedite, e.g. it refused to hurry up. But – and this is very important – it did not deny the petition for the writ of certiorari.

Thus the situation as it stands is that there is still a petition before the Supreme Court to review the situation in Pennsylvania, it just refused to do so before the election.

Now that raises the question: What’s the situation in Pennsylvania? Let’s work through that.

 

In 2019, the PA legislature passed a law called Act 77 that permitted all voters to cast their ballots by mail but (in Justice Alito’s words) “unambiguously required that all mailed ballots be received by 8 p.m. on election day.” The exact text is 2019 Pa. Leg. Serv. Act 2019-77, which stated: “No absentee ballot under this subsection shall be counted which is received in the office of the county board of elections later than eight o’clock P.M. on the day of the primary or election.” I agree with Justice Alito: That is unambiguous.

Act 77 also provided that if this portion of the law was invalidated, that much of the rest of Act 77, including its liberalization of mail-in voting, would also be void. The exact text is: “Sections 1, 2, 3, 3.2, 4, 5, 5.1, 6, 7, 8, 9 and 12 of this act are nonseverable. If any provision of this act or its application to any person or circumstance is held invalid, the remaining provisions or applications of this act are void.”

To again put this into common English, the Pennsylvania legislature passed a law that said mail-in ballots had to arrive by 8PM on election day to be counted, and then said that if the Court over-ruled that law, the entire law that permitted mail-in ballots was invalid.

In the face of this clear text, the Pennsylvania Supreme Court, by a vote of four to three, made the following decrees, summarized here by SCOTUS:

  1. Mailed ballots don’t need to be received by a election day. Instead, ballots can be accepted if they are postmarked on or before election day and are received within three days thereafter. Note that this is directly contravenes the text above.
  2. A mailed ballot with no postmark, or an illegible postmark, must be regarded as timely if it is received by that same date.

In doing so, PAs’ high court expressly acknowledged that “the statutory provision mandating receipt by election day was unambiguous” and conceded the law was “constitutional,” but still re-wrote the law because it thought it needed to do so in the face of a “natural disaster.” It justified its right to do so under the Free and Equal Elections Cause of the PA State Constitution.

Now, if you are a conservative, you are already angry. You despise this method of jurisprudence, which elite Harvard lawyers might call “living Constitutionalism,” and you believe that judges should enforce laws as written by lawmakers. You believe this case never should have gotten to SCOTUS because what the State Supreme Court did was egregious! .

However, if you’re of a more liberal inclination, you’re probably happy with this outcome. You’re happy because it’ll help Biden win, of course; but in general, you’re likely to be fine with a high court establishing a new right if you think it protects oppressed people from majoritarian tyranny.

If you’re a committed progressive, in fact, you likely will want to dismiss the entire case as just another defeat for outdated textualism in the face of living constitutionalism. It’s easy to frame this case as one of reactionary judges clinging to the letter of the law, while progressive justices overturn the letter of the law to reflect its true spirit. This is the view that CNN and MSNBC are promoting.

Had the Pennsylvania Supreme Court simply ruled that Act 77 was unconstitutional under PA’s Free and Equal Elections clause, this would have been a classic “textualism” vs. “living constitutionalism” case. But it’s not.

There is a strong likelihood that the State Supreme Court decision violates the Federal Constitution. Justice Alito writes: “The provisions of the Federal Constitution conferring on state legislatures, not state courts, the authority to make rules governing federal elections would be meaningless if a state court could override the rules adopted by the legislature simply by claiming that a state constitutional provision gave the courts the authority to make whatever rules it thought appropriate for the conduct of a fair election.”

Justice Alito is referring to the following clauses of the US Constitution:

  • Art. I, §4, cl. 1, which states “The Times, Places and Manner of holding Elections for Senators and Representatives, shall be prescribed in each State by the Legislature thereof.”
  • Art. II, §1, cl. 2, which states “Each State shall appoint, in such Manner as the Legislature thereof may direct, a Number of Electors, equal to the whole Number of Senators and Representatives to which the State may be entitled in the Congress: but no Senator or Representative, or Person holding an Office of Trust or Profit under the United States, shall be appointed an Elector.”

Again, translating this into common English, the US Constitution grants state legislators the exclusive right to prescribe the time, place, and manner of holding elections, and to direct the appointment of the electors.

The Pennsylvania Supreme Court didn’t just say “Act 77 is unconstitutional.” It re-wrote Act 77 itself, by judicial fiat, creating new rules for time, place, and manner, of holding elections. In doing so, the State Supreme Court violated the US Federal Constitution.

And that’s the real case here. The US Supreme Court is going to rule that the State Supreme Court violated the US Constitution, the State Supreme Court’s ruling is going to be overturned, and the votes that arrived after 8 PM on election day will be discarded. On that basis, Trump will win Pennsylvania.

end

The red flags highlighted for you

(Correia)

Correia: “F**kery Is Afoot”

 

Authored by Larry Correia via MonsterHunterNation.com,

I am more offended by how ham fisted, clumsy, and audacious the fraud to elect him is than the idea of Joe Biden being president. I think Joe Biden is a corrupt idiot, however, I think America would survive him like we’ve survived previous idiot administrations. However, what is potentially fatal for America is half the populace believing that their elections are hopelessly rigged and they’re eternally fucked. And now, however this shakes out in court, that’s exactly what half the country is going to think.

People are pissed off, and rightfully so.

 

Before I became a novelist I was an accountant. In auditing you look for red flags. That’s weird bits in the data that suggest something shifty is going on. You flag those weird things so you can delve into them further. One flag doesn’t necessarily mean there’s fraud. Weird things happen. A few flags mean stupidity or dishonesty. But a giant pile of red flags means that there’s bad shit going on and people should be in jail.

Except for in politics, where apparently all you have to do to dismiss a bunch of red flag is be a democrat and mumble something about “fascist voter suppression” then you can do all sorts of blatant crime and get off.

I’ve been trying to keep up with the firehose of information about what’s going on during this clusterfuck of an election. Last night I was on Facebook talking about the crazy high, 3rd world dictatorship level voter turnout levels in the deep blue areas of these swing states was very suspicious. Somebody gas lighted me about how “I’d have to do better than that”, so this was my quick reply, listing off the questionable bullshit I could think of off the top of my head:

The massive turn out alone is a red flag.

But as for doing better…

The late night spikes that were enough to close all the Trump leads are a red flag.

The statistically impossible breakdown of the ratios of these vote dumps is a red flag.

The ratios of these dumps being far better than the percentages in the bluest of blue cities, even though the historical data does not match, red flag.

The ratios of these vote dumps favoring Biden more in these few battlegrounds than the ratio for the rest of the country (even the bluest of the blue) red flag.

Biden outperforming Obama among these few urban vote dumps, even though Trump picked up points in every demographic group in the rest of the country, red flag.

The poll observers being removed. Red flag.

The counters cheering as GOP observers are removed, red flag.

The fact that the dem observers outnumber the GOP observers 3 to 1, red flag (and basis of the first lawsuit filed)

The electioneering at the polls (on video), red flag.

The willful violation of the court order requiring the separation of ballots by type, red flag.

USPS whistleblower reporting to the Inspector General that today they were ordered to backdate ballots to yesterday, red flag.

The video of 2 AM deliveries of what appear to be boxes of ballots with no chain of custody or other observers right before the late night miracle spikes, red flag.

Any of those things would be enough to trigger an audit in the normal world. This many flags and I’d be giggling in anticipation of catching some thieves.

And it isn’t that I have to do better. I’m just an gen pop observer who happens to be a retired auditor with a finely tuned bullshit detector. This is going to the courts.

##

 

So now I want to delve into some of these some more. The problem is that there’s a ton of info swirling around, some good, some crap. It doesn’t help that reporters are usually dishonest or not very bright and absolute trash at presenting data. Part of our problem is Big Tech is actively stomping on stories that make their guy look bad. (while compiling these I discovered that several of the links I’d looked at yesterday had been vanished by Facebook or Twitter)

For the last four years half the country was all “Trump is illegitimate! He’s not my president! He stole the election!” so on and so forth, and that was all based upon nebulous ideas about “Russian Interference”, The Russian Interference mostly boiled down to them buying ads on Facebook, or having fake bots trolling on Twitter last time. This time the actual giant megacorporations, Facebook, Twitter, and Google themselves have actively censored stories in order to protect their candidate. So you think after this pile of suspicious election clusterfucks that makes the game look totally rigged, the other half of the country is going to accept Joe Biden as legitimate? Oh hell no.

When you are auditing you see mistakes happen all the time. Humans make errors. Except in real life, mistakes usually go in different directions. When all the mistakes go in the same direction and benefit the same parties, they probably aren’t mistakes. They’re malfeasance.

Let’s go back a bit to before election day to see why people would be suspicious that the game has been rigged.

Most of the mainstream polls were utter garbage, off by what I believe to be the largest amounts ever in all of American history. Of course, this thing that surely demoralized the right and helped the left raise funds was just an innocent sampling error rather than a purposeful sampling bias… uh huh.

Then in the weeks leading up to the election, Big Tech and the media had a concentrated censorship effort to stop what was probably the juiciest October Surprise in modern history. But them silencing major newspapers and US Senators was just a mistake in their innocent efforts to “fact check”.

Then on election day, states like Florida that were obviously swinging hard for Trump with no possible mathematical way for Biden to come back, the news wouldn’t call for Trump. States where it was still clearly up in the air just based on even the most cursory of statistical analysis (Arizona) they called for Biden ASAP. But that was just innocent mistakes, and not an attempt to set the narrative of inevitable Biden victory by major media.

When Trump pulled ahead in the midwestern swing states by what were starting to appear to be insurmountable amounts, they suddenly threw the brakes on the counts. (my favorite part of this was when it looked like Trump was going to win, the Chinese Yaun crashed, which is pretty telling about just how shitty a candidate Joe Biden is) Okay, suddenly stopping all those counts seemed a little weird, but most of America went to bed thinking that this was a close race, with Trump in the lead in the EC.

Then we woke up in the morning, and everybody saw the 538 graphs showing a massive middle of the night spike for Joe Biden, with almost zilch in corresponding votes for Trump.

Now, one of those got walked back as “typo”. (again, funny how all these “mistakes” keep going in one direction) but the damage was already done, and all of a sudden most of America was paying a whole lot more attention to places like Wisconsin and Michigan than we usually do. That’s how flags work. And it turned out that single six figure typo was only one of many statistically improbable Biden vote dumps to come.

Now, all of my liberal acquaintances were quick to dismiss these, with some gas lighting about how it was just deep blue inner cities votes coming in, and of obviously they’re going to vote for Joe Biden… Except that is them deliberately missing the point. It isn’t that Biden won those, it is that he won them with statistically improbable amounts.

I don’t know what the current numbers are now, but as of yesterday morning the Wisconsin Midnight Mystery Dump was something like 98.4% for Joe Biden. That’s better than the bluest of blue cities manage. That’s better than Biden did in DC. I saw one 28k dump yesterday (I want to say it was 538 talking about PA) that was listed as ALL for Biden. That’s basically statistically impossible.

In a small populace, you can get 100% of the vote. However the larger the sample, the more likely there will be dissenting votes. Even in the bluest of blue areas or reddest of red areas, somebody is going to be a cranky dissident, or an old person is going to fill in the wrong circle. When you get into the hundreds or thousands yet maintain that kind of perfect ratio, basically impossible.

Plus we are supposed to believe that Joe Biden, the guy barely campaigned, who got like 12 sad looking people to his rallies, was more popular than Hillary Clinton or Barack Obama? This election was just that much more special? Uh huh… Except that these few battleground state blue cities vote ratios don’t match up with other blue cities around America, where it appears Trump’s support among every demographic group other than white males went UP.

Then people were quick to dismiss these statistically improbable spikes with “of course the mail in voting favors Biden, republicans vote in person.” Yes, but they don’t favor Biden with these kind of ratios anywhere else in America. The ratios are more like 60-40 or 70-30. But 97-3? Oh fuck no. So either Biden is a better campaigner to the inner cities (though he rarely left his basement) than the eloquent messianic figure of Barack Obama, or there’s something fishy going on here.

Now, as a suspicious auditor type who spent a lot of hours looking for fuckery in complex systems, my gut tells me fake ballots were getting dumped into the system to make up the difference. And oh look, here is a giant pile of red flags indicating that’s the case.

Yesterday there was a meme going around about how Wisconsin had something like 90% voter turnout, and how this was 20 points higher than usual, and it how it would also be one of the highest voter turnouts in all of American history. If Wisconsin was at 90% that beats the highest national number in all of American history by EIGHT points. And that was 1876 (which was legendarily fraudulent by the way).

Except, this is the problem with using memes to make your argument, it was only partially accurate, and the previous Wisconsin numbers were cited one way, and the current year was calculated a different way. (don’t feel bad, I fell for that one too, and as an accountant, that’s SO ANNOYING). When most people think of voter turnout, they think what percent of registered voters vote. But because Wisconsin has same day voting (a gift for fraudsters) their prior year percentages were votes compared to eligible population (that’s so goofy). But it meant the meme was comparing apples to oranges. So the leftists immediately jumped on that error to dismiss the idea that there was anything weird about how many people turned out to vote this time.

HOWEVER, that’s useless obfuscation. Because if you calculate the number the same way that most Americans do, their turn out was still like 90%, which is a rate normally reserved for dictators (that combined with the vote ratios would have made Saddam Hussein blush). I had one liberal guy point out that notoriously corrupt Seattle also gets 90%… which doesn’t exactly help his case.

Because here’s the kicker, the high turn out is the average for the state, but when you drill down on the source of these statistically improbable blue vote dumps, they’ve got districts with TWO HUNDRED PERCENT TURN OUT. That’s over 200%. There’s 7 over 100%, and a ton of them in the 90s.

Now the quick liberal dismiss explanation for this is that Wisconsin has same day registration (again, a fraudsters dream) and thousands of people ignored months of TV and social media beating them over the head to get registered to vote, and just decided to do it at the last minute because Biden is just that awesome/Trump is just that bad.

Except if you’re an auditor, when you see super suspicious spikes like that in certain places, the first thing we think is that’s the place where you’ve got somebody over the controls colluding. So that’s where you go to fabricate your bullshit.

200% turn out is fucking insane. Same day voting or not. That’s madness. When I was looking into this stuff I pulled a HuffPo article about the 2012 election and how it was controversial that some Madison ward had gotten 119% turnout.

Oh, but wait, there’s more.

A whistleblower has come forward from a Michigan post office saying that they were given ballots on November 4th, and ordered to post mark them to election day so they would still be valid. 

That is so insanely illegal. When the reporter called the postal supervisor who gave the order and asked about it, he immediately hung up.

Now, on this one, liberals were quick to dismiss it because it was from Project Veritas. (who they hate, and say cherry picks their investigative reporting, yet they keep winning all the lawsuits against them) However, the very next video was the response from the US Postal Inspector General (or whatever his title is, I can’t remember) about how they are investigating, so this wasn’t just some crank going to a reporter, it’s been passed up the chain of command. It’s an actual whistle blower.

I had someone else try to dismiss this one as innocent, because the post office accepting these late ballots had no way of knowing who they voted for so it would balance out. That’s is so naïve its cute. Of course they knew who the ballots were for. They were probably dropped off by people they were colluding with. You don’t commit felonies for clueless strangers because you feel sorry they got their votes in late.

A quick note on collusion because I mentioned it a couple times now. Collusion is the key to successful fraud. Systems have controls and checks in places, so the best way to circumvent them is to team up with somebody over one of those controls and exploit the gap. That’s fraud 101. Which is why you go to the post office your buddy runs to drop off your illegal late emergency Save Biden ballots. Or you go to the ward your buddy the poll worker is running the log in book to same day register all your imaginary friends.

Speaking of the imaginary vote, this one is actually hilarious. Democrats are quick to say all votes must count, which apparently includes people who are 118 years old. 

All those little fraud schemes come in from various directions, except the fraud numbers add up quick in a tight race. However, if you are behind by hundreds of thousands of votes in the middle of the night it requires some audacious level fuckery, which brings us to a red flag you can see from space. The 4 AM Biden Miracle. Here is an account from somebody at the counting center. 

This is the third link I’ve had to pull for this one, because Facebook keeps killing the others. Listen to the whole thing. Because after the statistically impossible votes came in, they had to toss a bunch of the GOP judges out of the building because of Covid.

Another thing you learn to spot when people are fraudulently manipulating data, is the mission-oriented spikes. On this one I’ve seen a few links, but the data has been so in flux that I’ve not been able to confirm it, but supposedly a bunch of the sudden Biden spikes weren’t just statistically improbable, they also voted for president but not the down ballot races. Now, lots of people will vote for president but don’t care about down ballot. However, when you get a pile of those in a row, that suggests somebody in a hurry filling out the mission critical bubble and then moving down stack, assembly line style.

There was also video taken of one guy delivering these mystery ballots to the counting center in the middle of the night (unloading them from a white van into a little red wagon) the link I used yesterday had been deleted by YouTube but I found this new one (can’t stop the signal, Mal) 

Gee whiz. I can’t imagine why mysterious boxes are being moved into this supposedly secure voting facility in the middle of the night with no observers or chain of custody.

And there’s more. They just keep coming. Yesterday morning I saw a small article about a republican official calling shenanigans on the voting in his small county, which went overwhelmingly Trump last time, and how it appeared the votes tallied weren’t even enough to account for his immediate family. Of course he got laughed at by caring liberals. Fast forward a few hours and it turns out that the voting program was faulty.

Worse, the same broken ass software was apparently used in 33 other counties. Hmmm… Again, with all these magical errors in these swing states all going in one side’s favor.

Then there’s SharpieGate, but I’ve heard so much conflicting stuff about that one, with sharpies actually working fine in the scantron machines, that I’m not putting much stock in that one yet. There’s a lawsuit already though, so it’ll be interesting to see what new information comes out.

Here’s another thing you learn about auditing. The more chaotic the system, the more chances for fraud. So when you come across a system that is extra chaotic on purpose, that tells you that the people running it want it that way for a reason.

And the flags just keep coming in. This is going to be way worse than Florida in 2000.

What happens now? Beats me. It goes to court, and then the real question becomes how much spine the republicans have to actually fight. In previous years I’d assume they’d be a bunch of spineless chickenshits and wimp out like usual, but I’m not so sure this time. I don’t know if or how any of these will pan out, and without access to the real data, all I can do is guess.

I can say without hesitation though, that fuckery is afoot, and if an actual real investigation happens they’ll be able to prove it. Only this is politics, so who knows. The only thing I do know for certain is that this election is so fucked up it is just going to make America’s two halves hate each other even more.

end

BREAKING: Pennsylvania Democrats Create Nearly 700,000 Votes To Put Joe Biden In Lead Since Election

By Joe Hoft
Published November 6, 2020 at 9:38am
271 Comments

 

Overnight the State of Pennsylvania was stolen along with Georgia.

Democrats made up a 700,000 vote deficit since election day to steal the state.

 

President Trump held massive rallies in Pennsylvania before the election.

President Trump had an estimated 58,000 supporters at his rally in Butler, Pennsylvania less than a week ago.

Joe Biden held three events in Pennsylvania on Monday where he garnered an estimated 160 supporters total. But don’t trust your own eyes.  On October 26 a Biden event looked like a campout with an estimated 10 supporters present.

 

And don’t blame this on COVID.

President Trump had hundreds of thousands watching his rallies on the Internet but Biden only had a few thousand watching his events.

We’re told not to trust our own eyes.  The corrupt Democrats, Big Media and Big Tech want us to believe that none of this happened that somehow Joe Biden won the election.

It is a lie.

 

On election night President Trump had an insurmountable lead in Pennsylvania. There was no way he could legitimately lose according to analysts.

Even with mail in ballots and massive voter fraud, the Democrats couldn’t recover. Then at about 11 o’clock at night, the state decided to shut down and call it a day. We still have no information on who made this decision or why it occurred.

 

On Wednesday morning the day after the election ,it was reported that with 64% of the votes counted President Trump had lead of 675,012 with 2,965,636 votes to Biden’s 2,290,624 votes.

Since Wednesday we reported numerous incidents in Pennsylvania where the Democrats were attempting to steal the election.  The Democrats won’t let Republicans or the press in to observe their corruption:

 

Last night the Democrat steal was complete.

This morning Pennsylvania reports that the old and senile Biden somehow pulled out Pennsylvania too.  As of this morning FOX News is reporting that Joe Biden is up by 6,826 votes with 3,297,614 votes to Trump’s 3,290,788.

President Trump had a record-setting night in Pennsylvania this year

.Democrats brazenly stole it.

They expect us to believe this legitimate.

It’s time Pennsylvania stands stand for justice.

END
 
Newt Gingrich…
 

Newt Gingrich: The ‘Corrupt’ Believe The American People Are “Spineless… Cowards”

 

Authored by Sara Carter via SaraACarter.com,

Former speaker of the House Newt Gingrich tells Fox News host Sean Hannity Thursday (Nov.5,2020) that the presidential election has been mired in corruption and must be investigated.

Former speaker of the House Newt Gingrich, a long time top political analyst and best selling author, told Fox News host Sean Hannity Thursday that the presidential election has been mired in corruption and must be investigated if America is to survive.

Gingrich is right and his warning should be headed. He referenced his decades long career since 1958, saying “I’m the angriest I have been in that entire six decades.”

He reiterated that a “group of corrupt people who have absolute contempt for the American people who believe we are so spineless, so cowardly, so unwilling to stand up for ourselves that they can steal the presidency.”

The corrupt bureaucrats that targeted President Donald Trump since the start of his presidency believe we – the American people – will do nothing but “wring our hands,” he said.

The “hope is that President Trump will lead the millions of Americans, who understand exactly what’s going on – the Philadelphia machine is corrupt, the Atlanta machine is corrupt, the machine in Detroit is corrupt – and they are trying to steal the presidency and we should not allow them to do that,” Gingrich went on to say.

My thoughts:

I’m grateful I’m not the only one feeling this way. This is not about being a soar loser this is about election corruption and suppression of the will of the American people. We’ve been watching this same routine of targeting President Trump since he was elected in 2016 and our nation’s foundation is eroding. Soon there won’t be the America of our fore-fathers but something far different than we could have ever imagined. A nation cannot survive this type of systemic corruption.

*  *  *

Gingrich’s comments from Fox News show Hannity Thursday night:

First of all, under federal law, we should lock up the people who are breaking the law. To stop somebody from being an observer, you just broke federal law. Do you hide and put up papers so nobody can see what you are doing? You just broke federal law. You bring in ballots that aren’t real? You just broke federal law.

I am sick and tired of corrupt left-wing democrats who believe that we are too timid and too easy to intimidate, and therefore let us just go out and steal it. That’s exactly — no one should have any doubt.

You are watching an effort to steal the presidency of the United States. And this is not about Donald Trump. This is about the American people. the American people have the right in an honest election with honest legitimate ballots to pick their leader or are we now just sheep to be dominated by these high-tech businesses, the news media, and the various political machines? And are we are supposed to surrender? I think this is one of the great, this is a crisis in the American system comparable to Washington on Christmas Eve or comparable to Lincoln and Gettysburg. This is a genuine deep crisis of our survival.

NEWT GINGRICH

*  *  *

 end
 
Excellent article
Theo Bishop/Mises

An America With Two Presidents

Profile picture for user Tyler Durden
 

Authored by Tho Bishop via The Mises Institute,

In the aftermath of Election Day 2020, ballots continue to be counted, states remain undecided, and party lawyers are dreaming about where to invest their upcoming billable hours. One thing we can count on, America’s political institutions are about to face a unique and fascinating challenge to their legitimacy.

For those who have better things to do than closely following late-arriving ballots in swing states, here is where things stand right now:

Joe Biden is poised to be able to claim victory in the election as blue ballots continue to trickle in from high-density urban areas in states like Pennsylvania, Nevada, and Georgia. At the same time, Donald Trump’s team continues to project confidence about Arizona swinging red and counting on military absentee ballots to make up any ground lost in the Peach State. Meanwhile, online sleuths are churning out anecdotal evidence of possible voter fraud and highlighting statistical anomalies in certain vital Democrat areas. As of Friday, they were even still allowed to talk about it on Twitter.

The confusion surrounding this election obviously evokes flashbacks to the Bush-Gore debacle of 2000. To Joe Biden’s advantage, Al Gore was dealing with a Republican state government at the time. Now, most of the states in question have a firmly blue state government, while most of the high-density urban areas are obviously governed by Democrat-controlled machines (none of which are particularly known for either competency or integrity).

Of course, even suggesting that partisan government officials may have more loyalty to their party over the civil religion of “democracy” is outrageous in the eyes of the corporate press.

Luckily, one of the major takeaways of the 2020 election is just how little the public actually thinks of America’s punditry class. After all, five years of nonstop stories about the sexist, white supremacist, unhinged Donald Trump gave rise to the most diverse political coalition the Republican Party has seen since 1960. The only demographic Trump underperformed relative to 2016 was white males. Oddly enough, the Left is not concerned with the privileged white patriarchy.

So where does that leave us?

If we assume, as we should, that the legal system inevitably leaves us with a Joe Biden inauguration, the next few years could be very interesting indeed. America will have a former president, deeply beloved by a base that stood out in the freezing cold past midnight in the tens of thousands during the campaign, who is not likely to go quietly in the night. Would it surprise anyone if Donald Trump boycotts a Biden inauguration? If so, is it possible he would hold a competing rally at the same time the forty-sixth president was being sworn in?

Does anyone doubt the attendance he would draw?

After all, regardless of the legal outcome, America is about to find itself with a president that will be viewed as illegitimate by a large portion of the population—and perhaps even the majority of some states. There is no institution left that has the credibility to push back against the gut feeling of millions of people who have spent the last few months organizing car parades and Trumptillas that their democracy has been hijacked by a political party that despises them.

To his credit, Joe Biden isn’t blind to what he is inheriting either. His problem is that a half century in politics has him out of touch with the America that actually exists. It is likely that Biden will stress bipartisan unity in his administration—a move made easier by the fact that he will need moderate Republicans more than the far-left caucus of his own party. In the past, America’s most hotly contested elections were decided with backroom deals among party bosses. Non-Trump Republicans are currently figuring out their price for standing with Joe Biden over their 2020 nominee.

It would not be surprising to see a Biden administration feature names like Bush, Kasich, or Flake. The problem is that this style of bipartisanship is as dated as the West Wing. The Left and Right want their sides to rule and dominate their enemies, while the center is more motivated by disgust of both sides than the desire for them to just get along.

If this is correct, the Biden administration will end up being precisely what the nonhysterical left always feared: the restoration of a neoconservative-neoliberal uniparty.

Adding to the chaos is the fact that Donald Trump will now be free of the burdens of responsibility that come with governing. America’s forty-fifth president will have the ability to do what he most enjoys: sit back, watch cable news, and start firing away from @realDonaldTrump. That is, of course, until he is predictably deplatformed by Jack Dorsey for being a threat to national unity.

Of course, blowback is not limited to foreign policy blunders by the American empire. Every attempt by those in power to silence Donald Trump going forward will have consequences they are not prepared to deal with.

For example, the second Donald Trump is forced to use a competing social media platform, the concerns about tech monopoly may begin to seem antiquated. Better still, a Trump news network seems inevitable—either built from scratch or by adopting one of the standing second-tier conservative options that currently exist. We can be sure that Donald Trump will never forgive the Murdochs for calling Arizona so quickly on Tuesday.

The majority of America’s mediocre elites residing in Washington and New York City are going to take a Joe Biden presidency as a repudiation of Trumpism. The massive increase in his support suggests otherwise. Their blind arrogance ensures that the anger felt by the masses that brought President Trump to power in 2016 will not go away.

As Ludwig von Mises understood, there are inevitable limitations to a state if the public does not view its leaders as legitimate.

Only a group that can count on the consent of the governed can establish a lasting regime. Whoever wants to see the world governed according to his own ideas must strive for domination over men’s minds. It is impossible, in the long run, to subject men against their will to a regime that they reject.

A Joe Biden presidency may be imposed on red America, but the establishment of old will never be able to persuade the Make America Great Again movement that he is their leader. Thanks to Donald Trump, a large portion of the US are likely to view themselves as the enemies of America’s next president.

Which brings us back to the most fundamental question of modern American politics: What do you do with political orders that no longer serve the interests of their people? How do we treat politically vanquished people who just aren’t going away?

Luckily, there is no reason to fear an economic crisis any time soon… Such an event might really make things interesting.  

end
 

What Happens In Vegas May Not Stay In Vegas: Why The Nevada Challenge Could Be Important To The Presidential Election

 

Authored by Jonathan Turley,

It turns out that some things that happen in Vegas may not stay in Vegas . . . like voting.

The Republican Party in the Silver State is now arguing that thousands of votes in the close presidential election were cast by workers who moved out of the state or even by deceased individuals. Various voters reported their deceased relatives receiving live ballots in the mail. Now, the Nevada Republican Party has sent a criminal referral to the Justice Department alleging at least 3,062 instances of voter fraud in the battleground state. The referral is substantially less than the “10,000” referenced earlier but the underlying allegation is still important. The early concern for many of us was that the system established in Clark County would be difficult to review for violations due to how the tabulation was handled and the record preserved. 

The allegations over ineligible voting were raised before Election Day. Many states like Nevada are relying on notoriously outdated voter lists and applying fairly lax standards for confirming the identity of voters for mail-in ballots. In Nevada, this is a particular concern because many workers moved out of the state due to the pandemic’s impact on the casino industry. You cannot vote if you moved out of the state over 30 days prior to the balloting. The problem is the accuracy of state voting and residency records in showing such changes shortly before an election.  Absent a system of authentication of residency and identification, it would be a system based on the honor system – an approach that no casino would allow even at the nickel slots section.

As courts deal with a flurry of lawsuits in various states, I have been focusing on the allegations in Nevada of thousands of ineligible or even deceased voters. That is the type of systemic failure that could cloud results in not just the Silver State but other states.  Nevada was one of the states that I identified before the election as one of three states that I was watching the most closely for election challenges. However, the problems raised in Nevada could raise concerns with shared elements to various states from Michigan to Pennsylvania. The reliance on questionable voter lists and the lack of authentication systems were raised months ago. The legal problem is not simply that such systems may allow for large numbers of ineligible votes but that they would not allow sufficient review of ballots to resolve such questions.

The criminal referral is substantially less than the “10,000” referenced earlier but the underlying allegation is still important. The early concern for many of us was that the system established in Clark County would be difficult to review for violations due to how the record was being preserved.

The Republicans are claiming that this is just the first set of identified voters with alleged ineligibility. Conversely, Nevada Gov. Steve Sisolak, a Democrat, issued a statement arguing the state was “widely recognized as being a leader in election administration,” and that he had “the utmost confidence in the abilities of Nevada’s local election officials and Secretary of State Barbara Cegavske to accurately count every eligible vote cast in the Silver State.” We have no basis to rule in or rule out either claim.

I have repeatedly stated that we must not make assumptions on either side.  My concern is that it is not clear how a court could review these ballots in Clark County if it agrees that there appears to be systemic problems.  If the court believes that thousands votes illegally, that lack of a record could prove the undoing of the state officials. At some point, the burden can shift and courts demand proof that a problem was not systemic. If they cannot, the question will be raised whether the same vulnerability existed in other states like Pennsylvania, Michigan, or Georgia. A court could be presented with a decision of when the unknowable becomes the unacceptable.  If the court believes that thousands of unlawful votes were cases and the ultimate number impossible to confirm, the only certain way to address a systemic failure would be a special election – a prospect that few judges would relish and even fewer would seriously consider.

What we know is that we are rapidly running out of runway to deal with this problem.  The options range from a detailed review of ballots to the remote possibility of a new election. All of those options take time as we saw in 2000 with the Florida recount. If the time runs out, we could have an election with lingering doubt over the legitimacy of the vote count in states like Nevada – a poisonous prospect for any democratic process.

iv) Swamp commentaries

Democrats are in disarray having lost so far quite a few seats..  maybe up to 10 or 12.  Looks like Pelosi is in trouble keeping her speaker’s position

(zerohedge)

“We’ll Get Fu*king Torn Apart Again In 2022”: Democrats Livid In Leaked Caucus Call After Crushing Election Losses

 

House Democrats were livid during a Thursday caucus call after the so-called ‘blue wave’ they were promised by pollster evaporated, and they lost several seats, according to leaked excerpts.

According to AP‘s Erica Werner, Virginia Rep. Abigail Spanberger was reportedly the most vocal – reportedly complaining that “we lost races we shouldn’t have lost. Defund police almost cost me my race because of an attack adDon’t say socialism ever again,” yelling that the party needs to “get back to basics.”

House Speaker Nancy Pelosi reportedly interjected – saying that they “won the House and the presidency.”

According to The Hillcentrist Democrats are now talking about throwing their support behind a challenger to Pelosi, with two prominent Democrats telling the outlet that they are reaching out to their colleagues about backing Hakeem Jeffries (D-NY) to take Pelosi’s place.

“He’s the only one prepared and positioned” to become speaker, one of them said. ” He bridges moderates and progressives better than anyone. And most importantly, he’s not Nancy Pelosi.”

Jeffries immediately ‘shot down’ the idea, saying that he’s focused on keeping his spot as one of Pelosi’s top lieutenants.

Heading into the polls, Pelosi enjoyed the overwhelming support of her caucus — facing no threat of a Speakership challenge — and Democratic leaders were eyeing big gains to their majority, with some estimates in the double digits.

But the early returns revealed a different reality:Not only did Democrats lose a number of their most vulnerable members, they had not picked off a single Republican incumbent heading into Wednesday evening.

The results immediately emboldened Republican leaders, who accused Pelosi and her party of being out of touch with the country. And Democrats on and off of Capitol Hill were left licking their wounds and questioning the strategic decisions that guided their party’s message throughout the campaign.

Pelosi needed to hammer Trump but instead she chose to let him slide,” said one former senior Democratic aide. “Last night should have been a bloodbath for Republicans.” The Hill

Perhaps Democrats should have mentioned their crowning achievement – Trump’s impeachment – even once during the election. Instead they mysteriously swept it under the rug.

end

GOP analyst raises enough money to purchase data and conduct a deep dive on voter fraud

(zerohedge)

GOP Analyst Raises $170K To Purchase Data, Conduct Deep Dive On Voter Fraud

 
 

GOP political analyst and former Trump Data Chief Matt Braynard believes he can detect voter fraud by comparing absentee ballots and early voters to the Social Security Death Index and the National Change of Address Database.

Braynard – former analyst for pollster Frank Luntz – is the president of Braynard Group, which provides services for voter targeting, polling and fundraising.

In order to accomplish this, Braynard will need up to $100,000 to purchase databases from data vendors. In a Thursday Twitter thread, he outlined his plan to audit the election in key states and launched a GoFundMe page which is currently under review (“Getting nuked still a possibility,” he says).

As of this writing, Braynard’s GoFundMe is up to just under $170,000. And in a Friday update, he says he’s been in touch with the Trump campaign (“but nothing more to say on that now”), has vendors lined up for Social Security and the Change of Address data, and is “Tracking down source data on Early Voters/ABS [absentee ballots]

end

This is going to be big!!  A USPS official is willing to testify under oath over ballot backdating.

Jankowski/Planet Free Will

PA USPS Official Willing To Testify Under Oath Over Ballot-Backdating

 

Authored by Joseph Jankowski via PlanetFreeWill.com,

A Pennsylvania United States Postal Service worker says they are willing to testify under oath over an apparent ballot backdating scheme that has played out at the public mail service, reports Jame’s O’Keefe of Project Veritas.

“One of the USPS officials in Pennsylvania has just agreed to go on the record and is willing to testify under oath to the backdating of ballots,” O’Keefe announced Friday afternoon. “We will be releasing his interview imminently.”

His tweet comes just minutes after Project Veritas released a second video of a USPS employee coming forwards to detail how a directive from positions high within the post office ordered late ballots to be picked up and separated.

The mail worker that anonymously spoke with O’Keefe suspects that the late ballots were collected and separated in order for them to be backdated to November 3, making them legally cast votes.

In Pennsylvania, mail-in and absentee were required to be in the elections office by 8:00 p.m. on November 3 for them to be counted in the official vote.

On Wednesday, Project Veritas released an interview with an anonymous USPS employee from Michigan who claimed that late ballots were also collected at his mail facility and were backdated from November 4th to election day, November 3rd.

The Michigan mail worker told O’keefe that he was given a directive from superiors to “separate [late ballots] from standard letter mail so they can hand stamp them with yesterdays date and put them through.”

As Philadelphia Mayor Jim Kenny declared the current election results in Pennsylvania a non-partisan “victory for our democracy,” and took a swipe at President Trump for spewing “baseless claims of fraud,” we will be waiting (but not holding our breath) for him to address what the anticipated Project Veritas interview with the PA USPS official might reveal.

 

end

BREITBART

Robert to me:

Wan to bet the votes went to Biden ?
To hold any validity in candidate votes, these votes would have to be identified and removed from the count to have voting integrity. Why the voting apparatus does not immediately do this is most telling as delay does not speak to integrity of votes cast and counted? Quilt comes by defense of such votes.
As I have said many times before, this was and is the most crooked election so far in America. And I doubt have are seeing more than ten tip of the iceberg on this

Lawsuit: At Least 21K Dead People on Pennsylvania Voter Rolls

Cemetery, Gravestones

 

Karen Bleier/AFP/Getty Images
2:30

There are at least 21,000 dead people on the state of Pennsylvania’s voter rolls, according to an amended lawsuit filed on Thursday.

A lawsuit filed by the Public Interest Legal Foundation (PILF) alleges that there are at least 21,000 dead people on Pennsylvania’s voter rolls. The lawsuit claims that Pennsylvania failed to “reasonably maintain” their voter registration records under federal and state law in time for the 2020 presidential election.

“As of October 7, 2020, at least 9,212 registrants have been dead for at least five years, at least 1,990 registrants have been dead for at least ten years, and at least 197 registrants have been dead for at least twenty years,” the lawsuit states.

“Pennsylvania still left the names of more than 21,000 dead individuals on the voter rolls less than a month before one of the most consequential general elections for federal officeholders in many years,” the lawsuit continues.

According to the lawsuit, about 92 percent of the 21,000 dead people on Pennsylvania’s voter rolls died sometime before October 2019. About 216 dead people show voting credits after federally listed dates of death in 2016 and 2018, the lawsuit alleges.

“This case is about ensuring that those deceased registrants are not receiving ballots,” PILF President J. Christian Adams said in a statement. “This case isn’t complicated.” He continued:

For nearly a year, we’ve been offering specific data on deceased registrants to Pennsylvania officials for proper handling ahead of what was expected to be a tight outcome on Election Day. When you push mail voting, your voter list maintenance mistakes made years ago will come back to haunt in the form of unnecessary recipients and nagging questions about unreturned or outstanding ballots.

In May, Pennsylvania election officials admitted that duplicate ballots were mailed out to registered voters. Likewise, Judicial Watch sued Pennsylvania for allegedly having 800,000 inactive voters on their state voter rolls.

The case was filed in the United States District Court for the Middle District of Pennsylvania. The case number is No. 1:20-cv-01905.

John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder

end

My goodness!! Michigan

Michigan must now be recounted along with Georgia and Wisconsin and Pennsylvania and Nevada..and Arizona and….

Software ‘Glitch’ In Michigan Erroneously Gave 1000s Of Votes To Biden; Up To 47 Counties Compromised

 

Software used to tabulate votes cast in 47 Michigan counties erroneously gave 6,000 votes to Joe Biden in Anterim County, according to state GOP Chairwoman Laura Cox.

“In Antrim County, ballots were counted for Democrats that were meant for Republicans, causing a 6,000 vote swing against our candidates. The county clerk came forward and said ‘tabulating software glitched and caused a miscalculation of the vote.’ Since then, we have now discovered the 47 counties used the same software in the same capacity,” she said, adding “Antrim County had to hand count all of the ballots, and these counties that used the software need to closely examine their results for similar discrepancies.”

Of note, Trump won Antrim County in 2016 with 62% of the vote vs. 33% for Hillary Clinton.

Watch:

According to the Detroit Free Press, officials are investigating the error.

Tom McMillin, a former state lawmaker from Oakland County and a member of the State Board of Education, said he noticed irregularities with the Antrim County vote totals late Tuesday, when he was checking out returns for Board of Education candidates.

In some precincts, but not all, Biden and other Democratic candidates had far more votes than normal, McMillin said.

“It just looked weird,” he said. “Two-thirds of the townships looked really messed up.”

Meanwhile, in Oakland County, Michigananother computer glitch was uncovered which gave an upset win to Democrat Melanie Hartman. Once it was fixed, her win was nullified and incumbent Adam Kochenderfer was declared the winner.

“Apparently, there was a technical glitch in Rochester Hills. And so, I actually ended up winning by a little over 1,100 votes,” said Kochenderfer. According to the Free Press, “The margin was 1,127 votes, to be exact. That gave him a 51.67% share of the total (with 48.23% going to his opponent, Hartman).”

“I’m very grateful to the officials who caught the error, but we need to ensure that we catch these issues, or prevent them entirely,” Kochenderfer added.

Former (?) White House spokeswoman Kayleigh McEnany tweeted about Michigan ‘irregularities’ on Friday:

Trump supporters meet anti Trump antifa
Trump supporters:”stop the steal”
 

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

The Bank of England surprised the markets by announcing £150 billion of quantitative easing.  This was £50 billion more than expected.

 

Bank of England: Monetary Policy Report – November 2020

Covid continues to hit jobs, incomes and spending in the UK. It has put a big strain on UK businesses’ cash flow, and is threatening the livelihoods of many people…Spending in the economy remains well below normal levels. The rapid rise in cases of Covid and the recent measures taken to contain the virus will reduce spending further. Inflation is well below our target…We have kept our interest rate at 0.1%, and announced a further £150 billion of quantitative easing.  We stand ready to take further actions if necessary to help the economy recover and ensure that inflation returns to our 2% target.   https://www.bankofengland.co.uk/monetary-policy-report/2020/november-2020?sf131782368=1

Federal Reserve issues FOMC statement

The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year… Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.  The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term

https://www.federalreserve.gov/newsevents/pressreleases/monetary20201105a.htm

 

Powell Presser Highlights

  • Recent rise new virus cases particularly concerning
  • Full recovery is unlikely until people feel safe
  • Pace of gains in labor market has moderated
  • Pace of improvement in the economy has moderated
  • Housing sector has fully recovered from downturn
  • Economic outlook is extraordinarily uncertain; path is highly uncertain
  • Fed will keep asset purchases ‘at least’ at current pace
  • Fed will continue to assess ongoing asset purchases

 

Powell: “I am very reluctant to comment on the election, directly, indirectly, at all.  It is a good time to step back and let the institutions of our democracy do their jobs.”

The big market story that is largely being ignored: Gold surged over 3% because the dollar plunged on fear that a US political crisis over the contested election is at hand.  The dollar’s tumble commenced after Europe opened.  The Old World is greatly concerned that the US is descending into a political, constitutional and social maelstrom that will not dissipate for the foreseeable future – and a wrong resolution will collapse confidence in government and election integrity in the USA.

While equity traders, led by guppies, pour into equities and Fangs on bizarre and conflicting rationales (Biden is good for stocks; Trump is good for stocks) the forex market, which is universally viewed as the smartest market, is signaling that something very bad for the US is occurring.

 

Remember, US AG Bill Barr repeatedly warned that the vast mail-in ballot scheme would unleash havoc and fraud during the election.  He probably prepared for what is transpiring.

 

Barr says voting by mail is ‘playing with fire’   September 2, 2020

“This is playing with fire. We’re a very closely divided country here,” Barr said on CNN’s “The Situation Room with Wolf Blitzer”… “People trying to change the rules to this, to this methodology — which, as a matter of logic, is very open to fraud and coercion — is reckless and dangerous and people are playing with fire,” Barr added… These comments contradict the views of bipartisan election officials and a wide array of voting experts who say voting-by-mail is a safe option with protections in place to prevent systematic fraud…  https://www.cnn.com/2020/09/02/politics/barr-mail-in-voting-playing-with-fire-situation-room/index.html

 

WaPo: Facebook removes massive ‘STOP THE STEAL’ group that Trump allies were using to help promote election protests

@thebradfordfile: Why is twitter censoring tweets that say “stop the fraud?”

The Fed balance sheet grew $11.173B on Treasury monetization. https://www.federalreserve.gov/releases/h41/current/

 

Key senators demand to know: Did Google manipulate get-out-vote messages? – Johnson, Cruz and Lee send letter to Google chief after monitoring project claims irregularities in final days of election.

https://justthenews.com/politics-policy/elections/key-senators-demand-know-did-google-manipulate-get-out-vote-messages

 

A reserved Trump last night: “This is a case where they’re trying to steal an election. They’re trying to rig an election, and we can’t let that happen.  If you count the legal votes, I easily win… Our goal is to defend the integrity of the election… We cannot have an election stolen like this… There’s been a lot of shenanigans… There’s going to be a lot of litigation… Democrats never believed they could win this election honestly, that’s why they mailed out millions of unsolicited ballots without any verification measures… I challenge Biden and all other Democrats to say they want only legal votes counted…”  Trump also said illegal mail-in ballots have destroyed the electoral system.

Trump expands lawsuits rooted in Constitution’s voting law authority

The Constitution’s voting law authority… limits the power of non-legislative actors trying to assert their power over balloting… https://justthenews.com/politics-policy/elections/trump-campaign-expands-lawsuits-legal-scholars-say-rooted-constitutions

@EmeraldRobinson: Hearing from a WH source: the @TheJusticeDept is claiming that regulations require them to wait 10 days before intervening in the election.

Michigan USPS Whistleblower Claims Late Ballots Received Backdated Postmarks

https://www.zerohedge.com/political/michigan-usps-whistleblower-claims-late-ballots-backdated

Ballot Count Watcher Describes At Least 130,000 Ballots ALL FOR BIDEN Arriving in Three Vehicles in Detroit in Dead of Night

https://www.thegatewaypundit.com/2020/11/watch-ballot-count-watcher-describes-least-130000-ballots-biden-arriving-three-vehicles-detroit-dead-night/

@RudyGiuliani: “My wife just sent this video of Detroit election workers cheering every time a @migop

attorney is removed from the TCF Center, where absentee ballot counting is happening. She says they do this every time they eject a GOP poll watcher & that Dem watchers outnumber GOP 3:1.”

https://twitter.com/aricnesbitt/status/1324105401814626304

Michigan County Clerk Discovers Total Votes Counted by “Election Software” DID NOT MATCH Printed Tabulator Tapes!      https://www.thegatewaypundit.com/2020/11/michigan-county-clerk-discovers-total-votes-counted-election-software-not-match-printed-tabulator-tapes/

@paulsperry_: Mich Gov Whitmer sent health dept into Detroit TFC Center to evict GOP pollwatchers but not Dem pollwatchers or media, claiming COVID concerns despite 40k-sq-ft bldg. Counters cheered when they were evicted. Also put up cardboard over windows to block inspection process

@charliekirk11: The FBI just released a statement that multiple military mail-in ballots were found thrown away in a ditch in Pennsylvania.  ALL of them were for President Trump. This is true election interference and Democrats are okay with it.

Pennsylvania court allows GOP observers closer access to ballot counting, Trump campaign

They had purportedly been kept as far away 100 feet…

https://justthenews.com/politics-policy/elections/pennsylvania-court-allow-gop-observers-closer-access-ballot-counting

@politicalelle: The act of “finding votes” veers from coincidence to strange when it happens repeatedly and overwhelmingly in one direction. Any sentient person would find it bizarre.

DJT Campaign Co-Chair @AdamLaxalt: “The fact remains that hundreds of thousands of ballots have been counted in Clark County and as a Judge and the Secretary of State have confirmed we have not been allowed to observe or challenge a single signature match for these votes.”

https://nevadagop.org/nevada-republican-party-and-trump-campaign-update-on-the-general-election/

@TeamTrump: WATCH: Nevada voter Jill Stokke on how her ballot was stolen

https://twitter.com/TeamTrump/status/1324395675736559616

@Politics_Polls: Trump campaign plan to file lawsuit in Nevada claiming some 10K voters who cast ballots here no longer live in the state @FoxNews reports.

@ITGuy1959: The legal team has the receipts or the number wouldn’t be this specific.

@TeamTrump: Poll worker gives his account of what happened when he tried to monitor the vote in Nevada    https://twitter.com/TeamTrump/status/1324396839559438336

Ex-Dir of Nat’l Intel @RichardGrenell: Clark County [NV] is refusing to allow us to check signatures from the recklessly mailed out ballots.

OAN’s @ChanelRion: Source close to campaign in Philadelphia: Despite the court order allowing Trump Team to view the counting in Philadelphia, the Sheriff refuses to enforce the Court Order. Only Democrats allowed to “Poll Watch” – Republicans still being barred access at this time.

@LarrySchweikart: It would be totally within the Constitution for the state legislatures of Michigan, Pennsylvania, and Wisconsin to exercise their duties and name a slate of electors for Donald Trump due to the outrageous fraud in the counting of the votes.

@tripgabriel: Allegheny County, PA still has 35,413 uncounted mail-in ballots, but elections staff is taking today off for “administrative work” and will not resume count until Friday. “I can’t get an answer as to why,” says @bethanyhallam, a member of county elections board.

@fleccas: Turns out 118 year old “William Bradley” voted via absentee ballot in Wayne County, Michigan. William Bradley died in 1984.  How long has this been going on? Try it for yourself:

https://mvic.sos.state.mi.us/Voter/Index

@Peoples_Pundit: Lol! He’s right. I used info via Social Security Death Index on “Your Voter Information” on the Michigan SoS website.  William was born in 1902, died in Detroit at age 82 in 1984.

He applied for an absentee ballot on 9/11, submitted it on 9/19.  They’ve been at it for months.

@RealKyleMorris: Trump campaign manager @BillStepien: “The Democrats’ lying, cheating and stealing is running rampant all over this country.”

@LizRNC: Turnout in Wisconsin overall is alleged to have been 89.25%, more than five standard deviations for the state’s mean turnout since 1960—another statistical impossibility.”

NBC: Millions of Absentee Ballots Counted Late in Virginia

Election workers will continue counting ballots for at least three more days

https://www.nbcwashington.com/news/local/millions-of-absentee-ballots-counted-late-in-virginia/2463592/

@seanmdav: In October, two conservative think tanks organized an election war game to game out post-election chaos. During the war game, where vote fraud was a huge issue, a Fox News-esque media organization incorrectly called a major state for Biden and then refused to retract the call.

We’re Supposed to Believe the GOP Had a Great Election Night Except For President?

Republicans won more seats in the House, retained the Senate, and picked up state legislative seats…

https://thefederalist.com/2020/11/05/were-supposed-to-believe-the-gop-had-a-great-election-night-except-for-president/

@RealAPolitics: Just saying on Pennsylvania: 200k votes voted only for Biden and not for any down-ballot races. @realDonaldTrump Hope you’re campaign exposes this garbage.

Barnes_Law: Just a reminder: just last year, Democrats demanded, and received, a new election for federal office when just a small amount of fraud was found.

https://www.theatlantic.com/politics/archive/2019/02/north-carolina-9th-fraud-board-orders-new-election/583369/

Bottom line on election and aftermath: A widespread massive voter fraud scheme in the US has occurred.  Anyone with a modicum of intelligence or integrity knows this, including the SCOTUS.  How will the SCOTUS resolve this so that Americans can regain confidence in election integrity?  Legal experts tell us everything could be on the table, including re-votes under supervision and nullification of ballots.  A misguided decision will cause irreparable harm to the republic and populace.

Why risk a blatant vote fraud scheme?  Beaucoup VIPs face indictment & conviction!

While most people are transfixed on the contested US presidential race, the GOP has a very slim chance to capture the House with a dozen or so races still not finalized.  The GOP has captured a net of 6 seats.  On a caucus call, House Dems that lost or nearly lost races vented at leaders over the dismal results.

WaPo’s @ericawerner: Spanberger on the Dem caucus call: We lost races we shouldn’t have lost.

Defund police almost cost me my race bc of an attack ad.  Don’t say socialism ever again.  Need to get back to basics.  Also earlier in the call Debbie Mucarsel-Powell who lost her race was crying , and mentioned how people can’t pronounce her name, and said stop being negative on Twitter

@Brian_Riedl: HOUSE UPDATE: If current leads hold up (admittedly a big if), Dem House majority would be just 221-214.  And the Dems lead by less than 2% in 5 of the uncalled races.  Which means a GOP House is certainly unlikely, but not impossible. And a Dem majority may be very tight.

Will Pelosi survive as Speaker?  Nancy cut a deal with ‘The Squad’ and leftists to be Speaker.  Their agenda, including impeachment, was a disaster for Dems.  A few moderate Dems plus GOP House members can elect the Speaker as well as control the House and its agenda.

Trump enthusiasts filled Twitter with hate for GOP leaders and senators that have been mum on the voting fraud.  They accuse the usually suspected GOP leaders of hoping that Trump loses so they can go back to their old ways.  However, Dems are quiet too.  Perhaps, solons realize how dangerous and destructive the current situation has become.  In fact, Trump was very quiet for two days.

@DonaldJTrumpJr: The total lack of action from virtually all of the “2024 GOP hopefuls” is pretty amazing.  They have a perfect platform to show that they’re willing & able to fight but they will cower to the media mob instead. Don’t worry @realDonaldTrump will fight & they can watch as usual!

@EricTrump: Where is the GOP?! Our voters will never forget…

Ex-WH official @DarrenJBeattie: Congressional source: “Congressional offices are being flooded by constituents demanding that GOP elected officials act now to stop the vote fraud

Despite ‘racist’ charges, Trump did better with minorities than any GOP candidate in 60 years

Nationally, preliminary numbers indicated that 26 percent of Trump’s voting share came from nonwhite voters — the highest percentage for a GOP presidential candidate since 1960…

https://nypost.com/2020/11/04/despite-racist-charges-trump-did-better-with-minorities-than-any-gop-candidate-in-60-years/

@thejtlewis: An underreported story is how well Joe Biden did with seniors, particularly those aged in the 125-200 range!

Well that is all for today

I will see you MONDAY night.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: