NOV 10//GOLD UP $20.10 TO $1877.10//SILVER UP 65 CENTS TO $24.34//HUGE QUEUE JUMP BY SOMEBODY NEEDING MASSIVE AMTS OF GOLD: 2 TONNES AND TOTAL NOW STANDING 15.07 TONNES//EUROPEAN BANKS CONTINUE IN THEIR ATTEMPT TO RAID THE COMEX//THE ELECTION FIASCO CONTINUES WITH MORE HIGHLIGHTS FOR YOU!: 1. BILL BARR INITIATES A VOTER FRAUD PROBE INTO THE ELECTION AND HE HAS THE POWER TO SEE THE HARD COPY. 2 OVER 132,000 OUT OF STATE FORMER HOME OWNERS IN GEORGIA VOTED ILLEGALLY 3.IN MICHIGAN THE VOTING MACHINES WERE CONNECTED TO THE INTERNET AND THAT IS TOTALLY ILLEGAL// 4. 10,000 DEAD ASKED FOR MAIL IN BALLOTS //MORE SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1877.10 UP  $20.10   The quote is London spot price

Silver:$24.34 UP $0.65   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1876.40  LONDON SPOT  4:30 pm

ii)SILVER:  $24.22//LONDON SPOT  4:30 pm

these people voted for Biden/Harris ticket!

Image

Today’s raid was orchestrated by the BIS.  They are desperately trying to prevent European banks from buying physical comex/gold silver

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CLOSING FUTURES PRICES:  KEY MONTHS

DEC. GOLD  $1873.40   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $3.70/ BACKWARD   // GOOD FOR EFP ISSUANCE

FEB GOLD:  1879.90 CLOSE 1:30 PM  SPREAD SPOT/FUTURE:  2.80 CONTANGO// $3.20 BELOW NORMAL CONTANGO

CLOSING SILVER FUTURE MONTH

SILVER DECEMBER  CLOSE:     $24.35  1:30  PM SPREAD SPOT/FUTURE DEC.       :   1  CENTS PER OZ  CONTANGO (   — BELOW NORMAL CONTANGO

SILVER MARCH CLOSE:  24.50/SPREAD SPOT/FUTURE:  16 CENTS

7 CENTS ABOVE NORMAL CONTANGO

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COMEX DATA

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

receiving today: 623/705

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,853.200000000 USD
INTENT DATE: 11/09/2020 DELIVERY DATE: 11/11/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
167 C MAREX 5
332 H STANDARD CHARTE 49
435 H SCOTIA CAPITAL 75
657 C MORGAN STANLEY 5
657 H MORGAN STANLEY 110
661 C JP MORGAN 101
661 H JP MORGAN 522
690 C ABN AMRO 500
737 C ADVANTAGE 10 8
800 C MAREX SPEC 7 15
905 C ADM 3
____________________________________________________________________________________________

TOTAL: 705 705
MONTH TO DATE: 4,756

issued:0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 705 NOTICE(S) FOR 70,500 OZ  (2.1928 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  4756 NOTICES FOR 475,600 OZ  (14.7931 tonnes) 

SILVER//NOV CONTRACT

0 NOTICE(S) FILED TODAY FOR nil  OZ/

total number of notices filed so far this month: 486 for 2,430,000  oz

BITCOIN MORNING QUOTE  $15,340   DOWN 15

BITCOIN AFTERNOON QUOTE.  :$15,331  UP 3 DOLLARS .

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GLD AND SLV INVENTORIES:

WITH GOLD UP 20.10  AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

A HUGE CHANGES IN GOLD INVENTORY AT THE GLD; A WITHDRAWAL OF 10.51 TONNES FROM THE GLD,

INVENTORY RESTS AT:

GLD: 1,249.79 TONNES OF GOLD//

WITH SILVER UP  $0.65  TODAY: AND WITH NO SILVER AROUND:

WOW 2ND STRAIGHT ADVANCE

A HUGE CHANGES IN SILVER INVENTORY AT THE SLV//: A DEPOSIT OF 4.739 MILLION OZ INTO THE SLV//

INVENTORY RESTS AT

.

SLV: 575.881  MILLION OZ./

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Let us have a look at the data for today

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IN SILVER THE COMEX OI FELL BY A STRONG SIZED 6,130 CONTRACTS FROM 159,521 DOWN TO 153,391, AND FURTHER FROM  OUR NEW RECORD OF 244,710, (FEB 25/2020. THE LOSS IN OI OCCURRED WITH OUR HUGE $1.76 FALL IN SILVER PRICING AT THE COMEX.IT SEEMS THAT THE LOSS IN COMEX OI IS  DUE TO CONSIDERABLE BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL. WE  HAD CONSIDERABLE LONG LIQUIDATION, AND A ZERO INCREASE IN  STANDING AT THE COMEX FOR NOV.  WE HAD AN VERY STRONG NET LOSS IN OUR TWO EXCHANGES OF 5096 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:  1034, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  1034, MARCH 0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1034 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.

3.780 MILLION OZ INITIAL STANDING IN NOV.

MONDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL $1.76) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS WE HAD A VERY STRONG NET LOSS IN OUR TWO EXCHANGES (5096 CONTRACTS). NO DOUBT THE STRONG LOSS IN OI ON THE TWO EXCHANGES WAS DUE TO i)BANKER/ALGO SHORT COVERING.  WE ALSO HAD  ii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A ZERO GAIN  IN SILVER OZ STANDING  FOR NOV, iii) STRONG COMEX LOSS  AND  iv) CONSIDERABLE  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:

6090 CONTRACTS (FOR 7 TRADING DAY(S) TOTAL 6090 CONTRACTS) OR 30.450 MILLION OZ: (AVERAGE PER DAY: 870 CONTRACTS OR 4.350 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF NOV: 30.450 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 3.61% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,559.74 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                    30.450 MILLION OZ (STARTING TO INCREASE AGAIN)

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 6130, WITH OUR HUGE $1.76 FALL IN SILVER PRICING AT THE COMEX ///MONDAY.THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1034 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE LOST A STRONG SIZED 5096 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR  $1.76 LOSS IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 1095 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED DECREASE OF 6130 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $1.76 LOSS IN PRICE OF SILVER/AND A CLOSING PRICE OF $23.69 // MONDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.769 BILLION OZ TO BE EXACT or 110% of annual global silver production (ex Russia & ex China).

FOR THE NEW NOV  DELIVERY MONTH/ THEY FILED AT THE COMEX:NOTICE(S) FOR nil OZ OF SILVER.

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY’S RECORD OF 244,705 WAS SET WITH A PRICE OF: 18.91 (FEB 25/2020)

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 14,727 CONTRACTS TO 556,199 AND FURTHER FROM  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE STRONG SIZED LOSS IN COMEX OI OCCURRED WITH OUR HUGE LOSS IN PRICE  OF $88.45 /// COMEX GOLD TRADING// MONDAY. WE  HAD STRONG BANKER/ALGO SHORT COVERING ACCOMPANYING OUR STRONG SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD SMALL LONG LIQUIDATION AND A HUMONGOUS GAIN IN GOLD OUNCES STANDING AT THE COMEX….THIS ALL HAPPENED WITH OUR LOSS IN PRICE OF $88.45. 

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

WE HAD A good SIZED LOSS OF 6830 CONTRACTS  (21.24 TONNES) ON OUR TWO EXCHANGES..IF YOU ADD IN THE INCREASE IN GOLD TONNAGE STANDING OUR NET LOSS IS ONLY 6163 CONTRACTS. THE BIS IS NOT A HAPPY CAMPER WITH THIS RESULT. THEY WANTED A LOT MORE LIQUIDATION THAT THAT!

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A STRONG SIZED 7897 CONTRACTS:

CONTRACT .  DEC: 7897; FEB: 0  ALL OTHER MONTHS ZERO//TOTAL: 7897.  The NEW COMEX OI for the gold complex rests at 556,199. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A GOOD SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6830 CONTRACTS: 14,727 CONTRACTS INCREASED AT THE COMEX AND 7897 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS OF 6830 CONTRACTS OR 21.24 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (7897) ACCOMPANYING THE STRONG SIZED LOSS IN COMEX OI  (14,727 OI): TOTAL LOSS IN THE TWO EXCHANGES:  6830 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 15.0917 TONNES3)  SOME LONG LIQUIDATION ;4) STRONG COMEX OI LOSS AND 5) STRONG SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS OCCURRED WITH  OUR HUGE LOSS IN GOLD PRICE TRADING//MONDAY//$88.45.

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 : 23,999 CONTRACTS OR 2,399,900 oz OR 74.64 TONNES (7 TRADING DAY(S) AND THUS AVERAGING: 3428 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 7 TRADING DAY(S) IN  TONNES: 74.64  TONNES

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

THUS EFP TRANSFERS REPRESENTS 74.64/3550 x 100% TONNES =2.10% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,752.37 TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; : 571.19 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:                        74.64 TONNES (INCREASING AGAIN) 

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

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 6130 CONTRACTS FROM 159,521 DOWN TO 153,391 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

THE STRONG SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1) SOME BANKER SHORT COVERING//ALGO SHORT COVERING//// , 2) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A ZERO INCREASE IN  STANDING  FOR SILVER AT THE COMEX FOR NOV., AND 4) SOME LONG LIQUIDATION 

EFP ISSUANCE 1034 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 1034 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1034 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 6130 CONTRACTS TO THE 1034 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A VERY STRONG SIZED LOSS OF 5096 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 23.725 MILLION  OZ, OCCURRED WITH OUR $1.76 FALL IN PRICE///

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

(report Harvey)

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 13.59 PTS OR .40%   //Hang Sang CLOSED UP 285.31 PTS OR 1.10%    /The Nikkei closed UP 65.78 POINTS OR 0.26%//Australia’s all ordinaires CLOSED UP .43%

/Chinese yuan (ONSHORE) closed /Oil UP TO 40.53 dollars per barrel for WTI and 42.80 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT ITALY//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6103. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6025 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%

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST  FELL BY BY A STRONG SIZED 14,727 CONTRACTS TO 556,199 MOVING FURTHER FROM OUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX DECREASE OCCURRED WITH OUR HUGE FALL OF $88.45 IN GOLD PRICING MONDAY’S COMEX TRADING/). WE ALSO HAD A STRONG EFP ISSUANCE (7897 CONTRACTS).   WE ALSO HAD  1)  SOME BANKER SHORT COVERING//CONSIDERABLE ALGO SHORT COVERING//,  2)   SOME  LONG LIQUIDATION  AND 3)  A MONSTER GAIN  IN GOLD STANDING AT THE  COMEX  ( NOW STANDING AT 15.0917 TONNES)//NOV. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED AN GOOD SIZED LOSS ON OUR TWO EXCHANGES OF 6830 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 STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 7897 EFP CONTRACTS WERE ISSUED:     DEC 7897; FEB// ’21 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 7987  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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 6830 TOTAL CONTRACTS IN THAT 7897 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A STRONG SIZED 14,727 COMEX CONTRACTS.. THE BIG NEWS IS THE STRONG LEVEL OF NOV 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((15.0917 TONNE) AS NOVEMBER IS A NON ACTIVE AND GENERALLY A VERY POOR DELIVERY MONTH

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $88.45).  AND, THEY WERE SOMEWHAT  SUCCESSFUL IN FLEECING SOME LONGS. AS MENTIONED ABOVE THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED   21.24 TONNES,

NET LOSS ON THE TWO EXCHANGES :: 6830 CONTRACTS OR 683000 OZ OR 21.24 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:  560,132 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.01 MILLION OZ/32,150 OZ PER TONNE =  1742 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1742/2200 OR 79.18% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY: 295,404 contracts// volume fair////

CONFIRMED COMEX VOL. FOR YESTERDAY:  634,595 contracts//  volume: high/raid/BIS INTERVENTION //most of our traders have left for London

NOV 10 /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
nil oz
Deposits to the Dealer Inventory in oz 96.453 oz

BRINKS
one kilobar

Deposits to the Customer Inventory, in oz 5208.462
OZ

Delaware

No of oz served (contracts) today
705 notice(s)
 70500 OZ
(2.1928 TONNES)
No of oz to be served (notices)
96 contracts
(9600 oz)
0.2986 TONNES
Total monthly oz gold served (contracts) so far this month
4756 notices
475,600 OZ
14.7931 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 1 deposit into the dealer

into Brinks:  96.453 oz  one kilobar
total deposit: 96.45 oz

total dealer withdrawals: nil oz

we had 1 deposit into the customer account

i) Into Delaware:  5,208.462 oz

total customer deposit:  5208.462  oz

we had 0 gold withdrawals from the customer account:

total withdrawals:  nil oz

We had 1  kilobar transactions  +

ADJUSTMENTS: 0 // 

The front month of NOV registered a total of 801 contracts for a GAIN of 434 contracts.  We had 263 notices filed on Monday so we gained a whopping 667 contracts or 66,700 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.  This is a new record(gold deliveries) for a November month. If you think that this is high, you can just imagine what will stand in December. 

The big December contract lost a HUGE 52,914 contracts down to 346,713 contracts(DUE TO THE RAID).  We will be watching December closely from this day forth. January gained A STRONG 2926 contracts to stand at 3006 contracts. FEBRUARY gained a whopping 31,547 contracts.

Net loss in contracts (after consideration of EFP and gain in the front month contracts)::  6193 or 619300 oz (19,262 tonnes)

very small if you consider the monstrous raid

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR NOVEMBER (15.0917 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  705 notices filed today for  70500 oz OR 2.1928 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 705  contract(s) of which 101  notices were stopped (received) by j.P. Morgan dealer and  522 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 (4756) x 100 oz , to which we add the difference between the open interest for the front month of  NOV (801 CONTRACTS ) minus the number of notices served upon today (705 x 100 oz per contract) equals 485,200 OZ OR 15.0917 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 (4756, x 100 oz +801 OI) for the front month minus the number of notices served upon today (705) x 100 oz which equals 485,200 oz standing OR 15.0917 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). THE COMEX IS UNDER A HUGE FRONTAL ATTACK FROM EUROPEAN BANKS SEEKING PHYSICAL METAL!

We gained 667 contracts or an additional 66,700 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

602,840.325 oz pledged June 12/2020 Brinks/   july 2/july 21               18.75 tonnes

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

total pledged gold:  1,598,591.300 oz                                     49.722 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 489.82 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 15.0917 tonnes

CALCULATION OF REGISTERED GOLD THAT CAN BE SETTLED UPON:

total registered or dealer  17,346,416.274 oz or 539.54tonnes
total weight of pledged:  1,598,591.300 oz or 49.722 tonnes
thus:
registered gold that can be used to settle upon: 15,747,825..0  (489,82 tonnes)
true registered gold  (total registered – pledged tonnes  15,747,825.0 (489.82 tonnes)
total eligible gold:  20,191,119.121 oz (6278.02 tonnes)

total registered, pledged  and eligible (customer) gold  37,537,535.395 oz 1,167.57 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1041.23 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 10/2020

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
600,000.642 oz
CNT
Deposits to the Dealer Inventory
NIL oz
Deposits to the Customer Inventory
1,192,794.564 oz
JPMorgan
CNT
No of oz served today (contracts)
0
CONTRACT(S)
nil OZ)
No of oz to be served (notices)
270 contracts
 1,350,000 oz)
Total monthly oz silver served (contracts)  486 contracts

2,430,000 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 2 deposits into the customer account (ELIGIBLE ACCOUNT)

i)into JPMorgan:  584,639.894 oz

ii) Into CNT: 608,154.670 oz

JPMorgan now has 190.72 million oz of  total silver inventory or 49.72% of all official comex silver. (190.72 million/383.555 million

total customer deposits today:  1,192,796.564   oz

we had 1 withdrawals:

i)Out of CNT:  600,000.642 oz

total withdrawals; 600,000.642    oz

We had 0 adjustment

Total dealer(registered) silver: 134.855 million oz

total registered and eligible silver:  383.555 million oz

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November saw a loss OF 4 notices down to 270 contracts. We had 4 notices filed on MONDAY so we gained 0 contracts or NIL additional silver oz will stand in this non active delivery month of November.

December saw a LOSS of 11,734 contracts DOWN to 95,763 contracts. January saw a GAIN of 12 contracts UP to 153. MARCH  gained 5300 contracts up to 45,304

The total number of notices filed today for the NOV 2020. contract month is represented by 0 contract(s) FOR nil 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 486 x 5,000 oz = 2,430,000 oz to which we add the difference between the open interest for the front month of OCT( 270) and the number of notices served upon today 0x (5000 oz) equals the number of ounces standing.

Thus the NOV standings for silver for the NOV/2019 contract month: 486 (notices served so far) x 5000 oz + OI for front month of NOV  270)- number of notices served upon today (0) x 5000 oz of silver standing for the NOV contract month .equals 3,780,000 oz. ..VERY STRONG FOR A NON ACTIVE  NOV MONTH.

WE GAINED 0 CONTRACTS OR AN ADDITIONAL nil 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. SEEMS THAT WE HAVE A WHALE COMING AFTER COMEX SILVER 

TODAY’S ESTIMATED SILVER VOLUME :102,290 CONTRACTS // volume  very strong////

FOR YESTERDAY  205,041  ,CONFIRMED VOLUME//  criminal//

YESTERDAY’S CONFIRMED VOLUME OF 205,041 CONTRACTS EQUATES to 1.025 billion  OZ 146.0% OF ANNUAL GLOBAL PRODUCTION OF SILVER..

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  FALLS TO- 3.63% ((Nov 10/2020)

2. Sprott gold fund (PHYS): premium to NAV  RISES TO -0.91% to NAV:   (NOV10/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/3.63%

(courtesy Sprott/GATA

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

NAV 19.33 TRADING 18.59///NEGATIVE  3.35

END

And now the Gold inventory at the GLD/

NOV 10/WITH GOLD UP $20.10 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 10.51 TONNES/INVENTORY RESTS AT 1249.79 TONNES

NOV 9/WITH GOLD DOWN $88.45 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIST OF 7.88 TONNES INTO THE GLD///INVENTORY RESTS AT 1260.30 TONNES

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

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Inventory rests tonight at

NOV10/ GLD INVENTORY 1249.79 tonnes

LAST;  943 TRADING DAYS:   +309.24 NET TONNES HAVE BEEN ADDED THE GLD

LAST 843 TRADING DAYS// +486.82  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory

NOV 10/WITH SILVER UP $.65 TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: STRANGE ANOTHER HUGE DEPOSIT OF 4.739 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 575.881 MILLION OZ

NOV 9/WITH SILVER  DOWN $1.76 TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE  SLV: A DEPOSIT OF 10.324 MILLION OZ ADDED INTO THE SLV INVENTORY////INVENTORY RESTS AT 571.742 MILLION OZ

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 10.2020:

SLV INVENTORY RESTS TONIGHT AT

575.881 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

For your interest…

(GATA)

Four gold coins unearthed in Jerusalem show ancient political turmoil

 Section: 

From The Times of Israel, Jerusalem
Monday, November 9, 2020

A small pottery jar containing four pure gold coins dating back more than a thousand years was unearthed during archaeological excavations ahead of the planned installation of an elevator at Jerusalem’s Western Wall, the Israel Antiquities Authority announced today.

Robert Kool, a coin expert at the authority, said the currency dated from a time of political change in the region, when control passed from the Sunni Abbasid caliphate, whose capital was Baghdad, Iraq, into the hands of ​​its Shiite rivals, the Fatimid dynasty of North Africa.

“The profile of the coins found in the juglet are a near-perfect reflection of the historical events. Two gold dinars were minted in Ramle during the rule of Caliph al-Muti‛ (946–974 CE) and his regional governor, Abu ‛Ali al-Qasim ibn al-Ihshid Unujur (946–961 CE),” Kool said in the authority’s statement. “The other two gold coins were minted in Cairo by the Fatimid rulers al-Mu‘izz (953–975 CE) and his successor, al-‘Aziz (975–996 CE).” …

Gold coins discovered near Jerusalem's Western Wall (Dafna Gazit, Israel Antiquities Authority)

… For the remainder of the report:

https://www.timesofisrael.com/cache-of-gold-coins-from-islamic-period-di…

END

USA Fed warns of a possible commercial debt default wave and asset declines due to the pandemic

(zerohedge/Reuters/GATA)

U.S. still faces possible default wave, asset declines due to pandemic, Fed warns

 Section: 

From Reuters
Monday, November 9, 2020

WASHINGTON — The United States may still face a wave of debt defaults and “significant declines” in asset prices because of the coronavirus pandemic and recession, the Federal Reserve warned today, in a stark reminder the economy is far from out of the woods.

“As many households continue to struggle, loan defaults may rise, leading to material losses” for lenders, the Fed said in its latest biannual Financial Stability Report. Business debt “has risen sharply as businesses increased borrowing to weather the period of weak earnings. The general decline in revenues associated with the severe reduction in economic activity has weakened the ability of businesses to services these obligations.”

… 

Asset prices “remain vulnerable to significant declines should investor risk sentiment fall or the economic recovery weaken.”

The comments were issued on a day when U.S. stock markets surged on news that a coronavirus vaccine may be on the horizon — a possible boon to businesses and households globally. …

… For the remainder of the report:

https://www.reuters.com/article/us-usa-fed-stability/u-s-still-faces-pos…

END

iii) Other physical stories:

J Johnson’s Commodity report

https://www.jsmineset.com/2020/11/10/mr-resolute-and-november-golds-deliveries/

Mr. Resolute And November Gold’s Deliveries!

Posted November 10th, 2020 at 8:30 AM (CST) by J. Johnson & filed under General Editorial.

Great and Wonderful Tuesday Morning Folks,

      After the exclusive temper tantrum at the Comex subsided, Gold has reversed, with the trade at $1,877.50 up $23.10 after reaching up to $1,888.90 with the low at $1,858.90. Gold actually started its reversal moments after the Comex close (after the negative $97.30 was posted), which was only $6 above yesterday’s low, so most of the retracements happened during the ICE trades. Silver suffered more yesterday, because its Silver, with the trade now at $24.185, up 48.4 cents after reaching up to $24.49 with the low at $23.95. Yesterday’s Comex Calculated Close for December Silver Futures was contained at $23.701, down $1.961 with the low right there at $23.60. Once again, we see the ICE recovery, and the obvious signal that this move was an attempt to scare anyone and everyone away from precious metals. The US Dollar is now trading at 92.82, up 10.5 points with the high nearby at 92.965 and the low at 92.585. Of course, all this happened in what is called fair markets, before 5 am pst, the Comex open, the London close, and as more and more of those that count the vote are being question for the way they counted and how the dead, illegal, or multiple filings for Joe, are being removed properly and under legal terms. There was never an allowed delayed count before and there never should be one ever.

      In Venezuela, Gold’s price is worth 18,751.53 Bolivar, giving today’s buyer another 391.51 discount with Silver’s price at 241.548 down 7.44 Bolivar. Argentina’s price for Gold is now at 148,815.64 A-Peso’s showing a 2,654.51 discount with Silver losing 53.32 A-Peso’s with the last trade at 1,916.94. The Turkish Lira’s price for Gold reversed showing a gain of 129.40 T-Lira with its last trade at 15,542.01 with Silver at 200.114, down 0.387 of a T-Lira from yesterday’s tally.

      November Silver’s Delivery Demands now has a post of 270 fully paid for 5,000-ounce contracts waiting to get receipts and with a Volume of 6 already posted up on the board with a half penny trading range between $24.215 and $24.21 with the last swap at the low, a gain of 52.5 cents so far since the Comex paper attack. Yesterday, there were no swaps/buys/sells at all in the delivery month, but 4 buyers did get receipts for their purchases. Yesterday’s frantic attempts to scare out long traders may have worked, but I think it may be the hedgers, that only have to hold $660 per calendar spread, instead of the $16,500 margin for a single speculative contract, that controlled the roll as we witnessed 5,956 long/short-contracts exiting the trade leaving a total of 153,743 in Overall Open Interest that trades against the physicals. In my positive outlook, these speculators may have very very deep pockets and are excited to see all this activity.

      November Gold’s Delivery Demands now has a total of 801 fully paid for contracts waiting for receipts and with a Volume of 24 up on the board with a trading range between $1,885.30 and $1,871.20 with the last trade at the low, up $18 so far today. Yesterday’s activity happened in between $1,963.20 and $1,847.10 with the last buy at $1,858.20 with the Comex Calculated Close at $1,853.20, down $97.10 that had a total of 745 swaps which raised today’s demand count by 434, proving Mr. Resolute is still Resoluting in November. Yesterday’s Volumes in both Silver and Gold exceeded their Open Interest numbers, this may be another internal signal, suggesting the Algo’s may have reversed their course and are ready for a new direction, onward and upward. This mornings Open Interest in Gold proves 12,051 long/short contracts exited the trade leaving a total of 560,132 Overnighters to go against the buyers of physicals, until there’s no more physicals to deliver.

      Team Biden is pushing forward, apparently talking with foreign dignitaries, even though the legal electoral process is not finished, helping to prove there is a real issue with this one party that is telling everyone unity is what they want, yet the wonderfully inept AOC wants to cancel those who worked for Trump, or to remove them from their government positions. Pennsylvania’s own, have proved the DNC forcefully removed Republican counters from counting or verifying the votes. We will remain asking why is this one party allowed to break every law in the book without financial and legal repercussions? The Republican attorney general has announced legal actions are moving forward over Pennsylvania’s mail-in voting.

     DJT Jr. reminds us that his father, still our president, has this Big Red Release Button on his desk, and he ain’t afraid to use it. “Amid all of the election ramifications and discussions, Jr. outlined a thought today that has likely been on the mind of many, myself included.”…“Declassify Everything”. The oddity of it all is somehow, every single Glitch has benefitted the democratic candidate in almost every state that had a glitch, what are the odds of that? During the refusals of having the Republican Party observe the count, Biden supposedly gained over 1 Million votes in Pennsylvania since the morning AFTER the election!

      John Solomon (formerly an executive and editor-in-chief at The Washington Times) claims Mark Zuckerberg sent at least $350 million to election judges in mostly Dem areas. If true, why would the Zuck spend money only on Democratic judges? Is there a Section 230 promise involved? Let the money trails be viewed, let us see who benefitted the most and who is attached to that wallet.

      In the meantime, keep calm! Law and order is, what we live by and by God Almighty, we’re living it now. So, keep the faith, have a smile on your face for every other law-abiding citizen, and as always …

Stay Strong!

Jeremiah Johnson

JeremiahJohnson@cableone.net

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

END

Again..

(courtesy Pam and Russ Martens/WallStreet on Parade)

JPMorgan Chase Is Under a New Federal Investigation, One Month After Getting Slapped with Its 4th and 5th Criminal Felony Count

By Pam Martens and Russ Martens: November 10, 2020 ~

Each quarter publicly traded companies file a form known as the 10-Q with the Securities and Exchange Commission. The 10-Q filed by the largest bank in the United States, JPMorgan Chase, on November 2 carried a very disturbing paragraph that had not appeared in the 10- Q the bank filed on August 3. The paragraph reads as follows:

“JPMorgan Chase Bank, N.A. has been advised by one of its U.S. regulators of a potential civil money penalty action against the Bank related to historical deficiencies in internal controls and internal audit over certain advisory and other activities. The Bank already has controls in place to address the deficiencies related to the proposed penalty. The Firm is currently engaged in resolution discussions with the U.S. regulator. There is no assurance that such discussions will result in resolution.”

Why is this paragraph so disturbing? First of all, the words “deficiencies” and “audit” are not two words that one wants to read in the same sentence pertaining to any Wall Street bank. But they are particularly frightening when it comes to the largest bank in the United States that has racked up an unprecedented five criminal felony counts – to which it admitted guilt – in the past six years. That’s five more felony counts than the bank racked up in the prior 100 years of its existence.

Equally unprecedented, the Board of Directors of JPMorgan Chase has kept Jamie Dimon as its Chairman and CEO, despite the fact that he has sat at the helm of the bank during this unprecedented and relentless crime wave.

There is also the disturbing fact that JPMorgan Chase’s three-year probation for its role in rigging the foreign exchange market just ended in January of this year. Nine months later, on September 29, it gets slapped with two new felony counts by the U.S. Department of Justice for rigging the precious metals and U.S. Treasury market and is put on another three-year probation.

And now, just a little more than a month later, we are learning that there is yet another federal probe of this bank in the works.

This is known as a recidivist lawbreaker. A real Justice Department doesn’t keep doling out probation periods to recidivist lawbreakers. It throws them in the pokey and demands changes in the management and Board of JPMorgan Chase.

But William Barr’s Justice Department did the exact opposite of what a rational person would have expected on September 29 when it announced JPMorgan Chase’s fourth and fifth felony count in a six-year span. Instead of holding its typical press conference to announce such weighty charges, the Justice Department stunned Wall Street watchers by making the announcement on the same day that all eyes were on the presidential debate that night and doing it with just a press release – no press conference.

That decision might have come from the fact that prosecutors were charging the bank with “tens of thousands of instances of unlawful trading in gold, silver, platinum, and palladium…as well as thousands of instances of unlawful trading in U.S. Treasury futures contracts and in U.S. Treasury notes and bonds…” but the Justice Department had decided to condense what could have been tens of thousands of counts into just two felony counts. If you don’t hold a press conference, reporters can’t ask those picky questions as to why the Justice Department was letting this serial lawbreaker off so easily.

By comparison, in 1985 the U.S. Department of Justice forced the big Wall Street bank, E.F. Hutton, to plead guilty to all 2,000 counts of wire and mail fraud it had engaged in.

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

i) Chinese yuan vs USA dollar/CLOSED UP 6.6103 /

//OFFSHORE YUAN:  6.6025   /shanghai bourse CLOSED DOWN 13.59 PTS .40%

HANG SANG CLOSED 285.31 PTS OR 1.10

2. Nikkei closed UP 65.75 POINTS OR 0.26%

3. Europe stocks OPENED ALL GREEN EXCEPT ITALY/

USA dollar index UP TO 92.79/Euro FALLS TO 1.1800

3b Japan 10 year bond yield: RISES TO. +.04/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 105.25/ 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:: 40.53 and Brent: 42.80

3f Gold UP/JAPANESE Yen DOWN 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 UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.49%/Italian 10 yr bond yield UP to 0.75% /SPAIN 10 YR BOND YIELD UP TO 0.18%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.24: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.83

3k Gold at $1879.50 silver at: 24.16   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 8/100 in roubles/dollar) 76.44

3m oil into the 40 dollar handle for WTI and 42 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 105.25 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 .9156 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0805 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 0.49%

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 0.941% early this morning. Thirty year rate at 1.723%

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

6.  TURKISH LIRA:  UP  TO 8.28..

Global Rally Fizzles, Nasdaq Tumbles As Pfizer Vaccine Skepticism Emerges

The 6-day rally which pushed US indexes briefly to all time highs on Monday, fizzled as worries about the extent of the COVID-19 pandemic’s economic impact resurfaced coupled with second thoughts about just how effective the Pfizer vaccine truly is.

Meanwhile, investors dumped expensive growth and tech shares and snapped up small-caps and cyclicals that would benefit the most from an economic recovery from the pandemic. Futures on the Nasdaq 100 slumped 1.5%, at one point tumbling over 800 points from Monday highs, while contracts on the Russell 2000 rose almost 2%. Netflix, Facebook, Apple fell between 1.8% and 2.3% as investors rotated into sectors that are expected to benefit from a full reopening of the economy.

Amazon.com slipped in the pre-market after news it faces an antitrust complaint from European Union regulators. Beijing on Tuesday unveiled regulations to root out monopolistic practices in the internet industry, helping drive down shares of gaming-to-payment giant Tencent Holdings Ltd. and e-commerce titan Alibaba Group Holding Ltd.

Surging coronavirus cases and legal challenges to the U.S. election outcome also weighed on sentiment. The U.S. surpassed 10 million Covid-19 cases on Monday and appeared poised to hit record hospitalizations later this week.

Boeing Co. jumped 3.5% in U.S. pre-market trading while Pfizer’s shares climbed another 4% in early trading on top of their 8% jump in the prior session. Shares of big U.S. banks were up about 1% and 2%, on the back of the sharply steeper yield curve. Cruise line operators and carriers battered by travel restrictions including Carnival Corp, Royal Caribbean, Delta Air Lines and United Airlines built on Monday’s rally, advancing between 1.5% and 4%.

“Investors need to diversify toward more cyclical parts of the market that have lagged behind in 2020, and away from big tech and the primary stay-at-home beneficiaries,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. The next leg up in stocks will be driven by more freedom of movement and “an end to U.S. political uncertainty” after the election. His comment follows a record reversal in the growth/value relationship, as value stocks posted their biggest intraday gains on record vs growth stocks.

As stocks exploded to record highs, caution crept in on Monday and dented the euphoria after Biden hailed Pfizer’s progress on the vaccine, but urged caution saying it would be “many more months” before widespread vaccination is available. Meanwhile, experts sounded a note of caution on the Pfizer shot, with questions remaining over how long it would maintain effectiveness. In more bad news, the final stage trial of a Chinese vaccine in Brazil was halted due to a serious adverse event.

Some some analysts sounded caution over the speed in which the vaccine could be implemented: “Given more tests are needed, then the approval process. Manufacturing and distribution would mean the vaccine, if truly effective, is still months away from mass deployment,” said Tai Hui, chief Asia market strategist at JPMorgan Asset Management.

“Markets will remain on the lookout for more promising vaccine data in addition to news of a fiscal reboot,” PineBridge Investments portfolio manager Mary Nicola told Reuters.

In Europe, bank stocks were lifted by rising bond yields, with the rate on the 10-year Treasury approaching 0.95%. Tech was Europe’s worst-performing sector on Tuesday, with the Stoxx Tech Index dropping as much as 2.1%, as shares in lockdown beneficiaries and chip stocks come under pressure following coronavirus vaccine breakthrough. Stay-home beneficiaries fall: Prosus, which invests in internet businesses, drops 3.7%; IT hardware maker Logitech -3.7%; Elsewhere, food-delivery firms Delivery Hero -6.7%, Just Eat Takeaway -3%, meal-kit maker HelloFresh -6.5%. Video-game stocks also dropped: Ubisoft -3.6%, Frontier Developments -5.3%, as did e-commerce firms Zalando -4.5%, Asos -1.1%.

Earlier in the session, Asian stock markets were mostly higher driven by regional airline, tourism and travel stocks. Most markets in the region were up, with Thailand’s SET advancing 4.2% and Singapore’s Straits Times Index rising 3.4%, while China’s Shanghai Composite slid 0.4%. Trading volume for MSCI Asia Pacific Index members was 62% above the monthly average for this time of the day. The Topix added 1.1%, with Recruit and JR Central contributing the most to the move. The Shanghai Composite Index retreated 0.4%, driven by CTG DUTY-FREE and SAIC Motor.

Airline, travel and tourism stocks across Asia were beneficiaries of the optimism prompted by the vaccine announcement. Qantas Airways gained 8.6% to hit its highest level since March, Japan Airlines shot 17.6% higher and ANA Holdings rose 16.4%. In Hong Kong, Cathay Pacific Airways shares jumped 14.9%, the best since July.

“Markets will get ahead of themselves in the short term with the vaccine news but longer term it feels like it is going higher,” Ord Minnett advisor John Milroy said from Sydney.

Early Tuesday, Japan’s Prime Minister Yoshihide Suga instructed his cabinet to design a fresh stimulus package to help revive the nation’s flagging economy to offset the ongoing effects of coronavirus.

In FX, the dollar and yen steadied while the Swiss franc stayed under pressure as risk sentiment fluctuated. The greenback was mixed versus its Group-of-10 peers, with the pound leading, though most pairs traded in relatively confined ranges after yesterday’s large moves; the greenback recovered as the euro lost early gains to drop to a low of $1.1780. The pound rose to its highest level since September, as its services-led economy will get a boost from a vaccine; the Norwegian krone advanced as oil prices rose a second day. The yen rebounded in Asia trade as traders covered short positions and Japanese exporters bought the currency for hedging purposes; it then steadied at around 105.40, The Bank of Japan said it will introduce a new deposit facility to help regional financial institutions committed to helping local economies by paying an interest rate of 0.1% to eligible banks, the central bank says. The Australian 10-year yield rose the most since March in a catch-up move to Monday’s virus news.

In rates, Treasuries were slightly cheaper continuing yesterday’s massive rout, with futures near bottom of Monday’s range and the curve marginally steeper. Yields higher by 1bp to 2bp across the curve with 2s10s steeper by ~1bp; 10-year around 0.945%, underperforming bunds and gilts by ~1bp each. Futures volume elevated and cash nearly 3x average in overseas trading hours. Auctions resume with 10-year new issue at 1pm ET; bond sale is Thursday. Price action during Asia session was broadly muted following Monday’s steep declines. U.S. refunding continues with $41b 10-year auction at 1pm ET, concludes with $27b 30-year Thursday.

In commodities, WTI and Brent remained elevated as risk sentiment in Europe somewhat improved from APAC hours, with WTI Dec just off session highs after testing USD 41/bbl (vs. low USD 39.41/bbl) and Brent Jan sees itself around USD 43/bbl (vs. low 41.71/bbl). News flow for the complex has remained light during early hours, but impetus is derived from the prospect that an effective vaccine could paint a rosier (or less pessimistic) outlook for the market, with jet fuel demand a top beneficiary. Elsewhere, spot gold and silver have drifted off intraday highs of USD 1890/oz and USD 24.40/oz respectively, whilst LME copper also lost ground on account of a firmer Dollar.

Looking at the day ahead, the data highlights include UK unemployment data for September, French and Italian industrial production for September, and the German ZEW Survey for November. In the US, there’ll also be October’s NFIB small business optimism index, and the September JOLTS job openings. Meanwhile from central banks, there’s remarks from the Fed’s Kaplan, Rosengren, Bostic, Quarles and Brainard, as well as the ECB’s Knot.

Market Snapshot

  • S&P 500 futures little changed at 3,545.00
  • STOXX Europe 600 up 0.4% to 382.41
  • MXAP up 0.5% to 184.30
  • MXAPJ up 0.1% to 612.44
  • Nikkei up 0.3% to 24,905.59
  • Topix up 1.1% to 1,700.80
  • Hang Seng Index up 1.1% to 26,301.48
  • Shanghai Composite down 0.4% to 3,360.15
  • Sensex up 1.6% to 43,263.83
  • Australia S&P/ASX 200 up 0.7% to 6,340.53
  • Kospi up 0.2% to 2,452.83
  • German 10Y yield rose 1.3 bps to -0.496%
  • Euro up 0.06% to $1.1820
  • Brent Futures up 1.5% to $43.04/bbl
  • Italian 10Y yield rose 11.6 bps to 0.645%
  • Spanish 10Y yield rose 0.6 bps to 0.192%
  • Brent futures up 1.5% to $43.04/bbl
  • Gold spot up 0.9% to $1,880.23
  • U.S. Dollar Index up 0.02% to 92.74

Top Overnight News from Bloomberg

  • Monday’s selloff in Treasuries conceals a two-way tussle on where to next for the world’s most important bond market. Treasuries flows were mixed after an initial plunge — which was partly driven by algorithmic selling — with some investors ultimately returning, according to a trader based in New York. Buyers also emerged in Asia on Tuesday, particularly in longer maturities, as they were lured by suddenly higher yields, another trader said
  • The double shot of progress to end the pandemic — from the “extraordinary” results of Pfizer Inc.’s vaccine and Eli Lilly & Co.’s emergency-use authorization in the U.S. — was somewhat offset by the final-stage trial of a frontrunner Chinese vaccine candidate being halted in Brazil due to a serious adverse event. And the Pfizer vaccine still has many hurdles to clear
  • Attorney General William Barr has authorized Justice Department officials to open inquiries into potential irregularities in the presidential election, while acknowledging there’s no conclusive evidence
  • The European Union’s second social bond sale is proving another hit with investors, attracting an orderbook in excess of 140 billion euros ($166 billion)
  • U.K. unemployment rose the most since the financial crisis over the summer, raising questions about how many job cuts could have been avoided had Chancellor of the Exchequer Rishi Sunak announced an extension to his furlough program sooner
  • The U.K.’s House of Lords rejected government plans to break international law over Brexit, putting the onus back on Prime Minister Boris Johnson, who immediately vowed to push ahead with the legislation
  • France is prepared to further ramp up spending to support any firm, from mom-and-pop shops to its national flag carrier, as rising unemployment and a resurgence of the Covid-19 pandemic cast a longer shadow over the economy

A quick look across global markets courtesy of NewsSquawk:

Asian equity markets were mostly higher as the region took its cue from the predominantly strong performance stateside where the S&P 500 and DJIA rallied to fresh record highs, although the Nasdaq bucked the trend as tech and stay-at-home stocks were heavily pressured following an encouraging update regarding the Pfizer and BioNTech vaccine which was reported to be more than 90% effective in combatting COVID-19. This triggered a rotation out of growth and into value stocks although the broader market retraced some of the gains heading into the close on several bearish factors including a large sell-side imbalance, expectations of further restrictions in California and comments from Senate Majority Leader McConnell that he does not acknowledge Biden or Harris as President-elect or VP-elect. Additionally, despite the positivity surrounding the update from Pfizer and BioNTech yesterday, some desks have highlighted that questions on the drug’s durability and efficacy for various subsets of the population and the severity of cases it will be effective for, still remain. ASX 200 (+0.7%) was boosted at the open with gains led by energy after a rally in oil prices and with the largest-weighted financials also cheering the vaccine news, while Nikkei 225 (+0.5%) briefly surged above the 25k level with notable strength seen in the travel sector including rail and airline stocks but with the index finishing well off its best levels amid weakness in tech which saw Tokyo Stock Exchange’s Mothers Index Futures, which consists of start-ups, trigger a circuit breaker after hitting limit down. Hang Seng (+0.8%) and Shanghai Comp. (-0.2%) were varied as the mainland lagged after a neutral PBoC liquidity operation and ongoing tensions with the US which are to sanction four more people in response to China’s crackdown on dissent in Hong Kong, while there were also recent reports that China’s COVID-19 vaccine trial was halted in Brazil following a serious adverse event. Finally, 10yr JGBs were pressured and slipped below the 152.00 level amid spillover selling from T-notes and gains across stocks, with demand also subdued by mixed results at the 30yr JGB auction.

Top Asian News

  • U.S. Imposes More Sanctions Over China’s Hong Kong Crackdown
  • Biden Win to Spur Flows to Asia Already Buoyed by Virus Success
  • BOJ Offers Carrot for Regional Banks to Overhaul Operations
  • H.K. to Give Details on Singapore Travel Bubble Within Days

Ahead of the cash product open, European index futures picked up from overnight lows with the DAX Dec’20 moving back into modest positive territory. A scaling back of these losses has led to a relatively mixed picture across the region thus far with the Eurostoxx 50 (+0.5%) eking mild gains, whilst the DAX cash (-0.2%) is softer once again with the index hampered by corporate updates from Deutsche Post (-6.0%) and Adidas (-5.6%). Additionally for the index, the fallout from yesterday’s Pfizer/BioNTech continues to reverberate across the market with Infineon (-3.7%) lower on the session as tech names remain out of favour (Stoxx Europe 600 Tech Index -1.5%; the laggard in the region), whilst Delivery Hero (-8.7%) are also underperforming with the Co. viewed as a loser from any potential reopening efforts. As the dust begins to settle on the US election, the current market narrative has shifted somewhat over the past 24 hours to the impact of a prospective vaccine on the economic outlook. Yesterday’s market reaction was particularly pronounced with the S&P 500 and DJIA printing all-time highs, whilst desks also continue to weigh the prospects of a more prolonged shift away from growth/momentum names towards value/cyclicals. One of the key determinants of this will hinge upon how quickly the vaccine can be distributed and nations can reopen their economies. Yesterday’s news was clearly a positive for this narrative, however, the timeline for a “return to normal” remains unclear. Additionally, markets will likely need further details from the study on its efficacy on specific subsets on the population and whether or not the vaccine will protect the most vulnerable in society; failure to do so could temper the hopes from a more extensive reopening of the economy. Nonetheless, for now, markets are continuing to add to some of the bets placed yesterday with financials and oil & gas names outperforming peers. For the former, strength can predominantly be observed in the periphery with Italian and Spanish banks some of those hit hardest in the wake of the pandemic, accordingly, the IBEX 35 and FTSE MIB trade higher by 2.6% and 0.1% respectively. On a more granular level, substantial gains have been observed in some of the more specific beneficiaries of an easing in lockdown restrictions with Unibail-Rodamco (+24%), Cineworld (+60%) and Rolls Royce (+20%) the best performers in the Stoxx 600. To the downside, besides tech names, the recent rally continues to hamper performance of the defensively positioned health care sector. For the FTSE 100, AstraZeneca (largest weighted stock in the index) remains a key focus as it continues work on its COVID-19 vaccine, results of which are expected towards the end of the year or early 2021 (according to ITV’s Peston)

Top European News

  • Thyssenkrupp in Talks for Over 5 Billion Euros in Steel Aid
  • U.K. Unemployment Climbs to Highest Since 2016 as Job Cuts Soar
  • Uniper Falls as Profit is Hit by Rising Natural Gas Prices
  • Unibail Shareholders Reject $4.1 Billion Share Sale Plan

In FX, the dollar index has picked up steam in recent trade after a relatively contained start to the session, with the index eyeing yesterday’s 92.976 high ahead of 93.000, with upside levels including the 21 DMA (93.231) followed by the 50 DMA (93.366). The mild pullback overnight coincided with reports that US AG Barr has authorised a DoJ probe of “substantial allegations” regarding vote counting irregularities, whilst a Biden transition official threatened legal action and called for the General Services Administration to recognize Biden’s election victory so the transition can begin. Meanwhile, today’s data slate remains on the lighter side but Fed speak includes the likes of Fed’s Rosengren, Quarles, Kaplan and Brainard, with fresh/pertinent comments on monetary policy unlikely as the topics seem to be more from a regulatory standpoint.

  • GBP, EUR, JPY, NZD, AUD – All narrowly mixed against the Buck to various degrees. Sterling stands as the best performer this far after it gleaned some support from technical play as Cable managed to top 1.3200 (vs. low 1.3158) after testing the level to the upside on multiple occasions during APAC hours – with little follow through seen from the clouded September jobs data. The pair topped yesterday’s 1.3207 high to a current intraday peak at 1.3259. This bout of Sterling strength subsequently pressured EUR/GBP below 0.8950 and its 200 DMA at 0.8922 – with the only notable Brexit development since the European close being the UK House of Lords voting against UK government on Internal Market Bill which would have given ministers power to override EU exit treaty, whilst EU/UK talks are set to continue throughout the week. EUR/GBP flows eventually pressured the Single currency after largely moving in tandem with the Dollar in APAC trade, with eyes also set on the EU budget/recovery fund negotiations as discussions poised to resume at 1300GMT, whilst the EU Parliament spokesman yesterday expressed pessimism over the state of talks in a contrast to the rhetoric out of EU leaders. EUR/USD breached 1.1800 to the downside alongside yesterday’s 1.1795 low ahead of the 50 and 21 DMAs at 1.1772 and 1.1766 respectively. Meanwhile, Yen recently gave up its earlier mild gains on account of the firming Buck, whilst the constructive risk tone also aided USD/JPY to trim a bulk of earlier losses after the pair tested its 21 DMA (104.78) to the downside in overnight trade. Antipodeans are now mixed after initially edging higher on the constructive risk tone, but the Dollar’s recent strength has weighed on the Aussie whilst the Kiwi remains somewhat cushioned by downside in the AUD/NZD cross.
  • EM – The Turkish Lira has given up some of yesterday’s gains against the backdrop central bank independence in question and geopolitical developments in the Nagorno-Karabakh region, with the recently announced ceasefire in the region reportedly observed but scepticism remains given the fragile nature of said ceasefires. On the domestic front, Turkish President Erdogan spoke again and noted that the country is battling against those trying to trap the country with regards to inflation, interest rates and FX as the leader reiterated his stance, but with no follow-through to the Lira as USD/TRY stabilises around 8.2143 vs. its 8.3738 intraday high.

In commodities, WTI and Brent front-month futures remain elevated as risk sentiment in Europe somewhat improved from APAC hours, with WTI Dec just off session highs after testing USD 41/bbl (vs. low USD 39.41/bbl) and Brent Jan sees itself around USD 43/bbl (vs. low 41.71/bbl). News flow for the complex has remained light during early hours, but impetus is derived from the prospect that an effective vaccine could paint a rosier (or less pessimistic) outlook for the market, with jet fuel demand a top beneficiary. That being said, it remains to be seen what yesterday’s vaccine news flow could mean for OPEC+ as the producers were expected to hold current cuts through Q1 2021 vs. the pact to ease output cuts. Looking ahead, the weekly Private Inventory data is to be released today, but ahead of that the EIA will release its monthly STEO where the much-watched global demand growth forecasts are likely to be stale given yesterday’s vaccine news. Elsewhere, spot gold and silver have drifted off intraday highs of USD 1890/oz and USD 24.40/oz respectively, whilst LME copper also lost ground on account of a firmer Dollar.

US Event Calendar

  • 6am: NFIB Small Business Optimism 104, est. 104.1, prior 104
  • 10am: JOLTS Job Openings, est. 6,500, prior 6,493

Central Banks

  • 8:30am: Fed’s Kaplan Takes Part in Bloomberg Event
  • 10am: Fed’s Rosengren Speaks on Financial Stability
  • 10am: Fed’s Kaplan Speaks at a UT at Dallas Economic Summit
  • 12pm: Dallas Fed’s Kaplan speaks at the Council on Foreign Relations
  • 12:30pm: Fed’s Bostic Gives Opening Remarks at an Opportunity Event
  • 2pm: Fed’s Quarles Appears Before Senate Banking Panel
  • 4pm: Fed’s Rosengren to Speak on Financial Stability (Repeat text)
  • 5pm: Fed’s Brainard to Discuss Community Reinvestment Act

DB’s Jim Reid concludes the overnight wrap

Given that vaccines typically take over a decade to develop and roll out, yesterday’s news from Pfizer/BioNTech indicates that science has created something that our generation can be incredibly proud of. Maybe we weren’t all huddled round black and white TVs looking at Neil Armstrong take a step on the moon but scientists deserve a lot of praise today. The 90% efficacy number is astonishing when you think flu vaccines tend to be around 50%. The results weren’t split by age but let me take you on a thought experiment to show how game changing this could be. I say “could” as there’s still uncertainty and unknowns about the vaccine and how high take up can be logistically and whether populations will volunteer to take it initially. However for now come on a journey with me.

In the UK for example around 43k of the 49k official covid deaths have come from the over 70 year old cohort. This group have taken up c.50% of covid hospitalisations recently. In the UK there are around 10 million in this population (out of 68m). The UK has secured 10 million jabs from Pfizer before YE. Clearly each person needs two jabs 21 days apart and other groups like key workers will also get high priority. Nevertheless if the efficacy numbers for the elderly are anything close to the overall 90% level then surely society would learn to live with the virus well before a full vaccine was rolled out (and herd immunity acquired) as you were very quickly protecting the main demographic that was causing health services to be overrun. Maybe I’m missing something (long Covid?) but if efficacy is proved to be nearly as high for the elderly the world can get back closer to normal much quicker than I was previously anticipating. A lot of unknowns still for now but that’s my immediate thoughts.

Although the release didn’t give much away on the age of trialists, the CEO of BioNTech said efficacy in the elderly should be above 80% which again is promising if confirmed. The talk is that Moderna’s vaccine (soon to provide results) shares the same technology so optimism rose here as well.

Looking at the details of the Pfizer trial, 43,538 participants were enrolled, and the analysts found 94 confirmed Covid-19 cases, with the split between the cases in the vaccinated individuals and those who got the placebo indicating that the vaccine was more than 90% effective at 7 days after the second dose. This is just the first interim analysis of the phase 3 study however, and the trial is expected to continue through to the final analysis when 164 confirmed Covid-19 cases have accrued. Looking forward now, it’s expected that they’ll request an Emergency Use Authorisation from the FDA in the US in the third week of November, and their current projections show them being able to produce up to 50m doses this year and up to 1.3bn doses next year.

Yesterday, Marion on my team put out a report (see here ) providing a summary of Covid-19 vaccine developments. One of the biggest takeaways in yesterday’s news was the positive news for vaccine candidates that share the same technology. In particular, Moderna (under phase 3), CureVac and India’s Zydus Cadila (the latter two are expected to begin phase 3 trials in December). Currently one drawback to the Pfizer vaccine is that it has to be stored at -70C until the day it is used. On the other hand, Moderna’s travels at a relatively balmy -20C. Even better, Johnson and Johnson’s vaccine candidate as well as the AstraZeneca vaccine are said to not require deep freezing and can be shipped unfrozen. This may harm the logistics of Pfizer roll out to some degree but the overriding message should be one of joy as there is a chance that the scientists have found a path out of the pandemic.

Following the news, yesterday proved to be a very good one for risk assets even if the US came well off it’s highs after Europe went home, a trend that has continued in Asia. The S&P 500 climbed nearly 4% in early hours of trading in New York and reached a fresh intraday all-time high. However a late statement from Senate Majority Leader McConnell sent stocks spinning lower with the S&P finishing ‘only’ +1.17%. Senator McConnell said that Mr Trump is “100% within his rights” to investigate any possible voting irregularities and request recounts. Elsewhere 10 year US yields climbed +10.5bps to their highest level since March 20. The energy sector was the biggest winner in the US, rising by +14.22% thanks to the surge in oil prices that also took place as both WTI (+8.48%) and Brent (+7.48%) experienced their best days since May. Banks (+13.20%) weren’t far behind however as they were buoyed by the rise in bond yields and the lower likelihood of ultra-low interest rates stretching far into the future. Tech in particular lagged yesterday with the NASDAQ down -1.53%. Zoom didn’t have a good day falling -17.37% along with other companies that would stand to suffer from a return to pre-Covid normality. Netflix (-8.59%) and Clorox (-10.62%) were two other notable stay-at-home/pandemic stocks that were subject to rotation yesterday. On the other hand Royal Caribbean (+28.79%) and US Airlines (+14.72%) at large also saw optimism return to the travel industry.

It was a similar story in Europe, where the STOXX 600 advanced +3.98% in its strongest daily performance since March, a move which sent the index up to its highest level since the pandemic first hit. As with the S&P 500, the energy sector was among the bigger winner in the index with an +10.44% rise, while financials (+12.33%) and industrials (+4.22%) rose strongly as well. And on the individual moves, Rolls-Royce (+43.76%) was the top performer in the STOXX 600, followed by the cruise operator Carnival (+37.93%), and British Airways owner IAG (+25.48%). In fact, the STOXX 600 Travel & Leisure Index closed up +7.00% at its highest level since early March. At the other end of the index however, were the diagnostic testing company DiaSorin (-16.50%) and online supermarket Ocado (-11.51%), with other major losers including HelloFresh (-15.25%), and Just Eat Takeaway.com (-8.29%)

This sharp reaction to the vaccine news was seen across multiple asset classes, not least in sovereign bond markets as investors pared back their expectations of further stimulus down the line. As noted above, by the close, yields on 10yr US Treasuries had surged +10.5bps to 0.924%, in their biggest daily move higher since March, while those on 10yr bunds (+11.2bps), gilts (+9.8bps) and BTPs (+11.7bps) also surged. There was also a notable steepening in yield curves too, with the US 2s10s climbing +8.5bps to 74.9bps, its steepest in nearly 3 years.

The risk rally has stalled further in Asia though with regional markets trading more mixed and US/European futures down. The Hang Seng (+0.94%) and Asx (+0.66%) are modestly up while the Nikkei (+0.09%), Kospi (+0.10%) and the Shanghai Comp (+0.03%) are broadly flat. Meanwhile, futures on the S&P 500 are down -0.63%. It seems that besides the McConnell news, the prospect of a smaller US stimulus and quickly surging coronavirus cases are weighing on sentiment. In addition questions are starting to arise around safety and longevity of any vaccine. In Fx, the Turkish lira is down -0.84% reversing part of yesterday’s advance while the onshore Chinese yuan is up 0.33% to 6.6075. In terms of overnight data releases, China’s October CPI came in at +0.5% yoy (vs. +0.8% yoy expected) while PPI stood at -2.1% yoy (vs. -1.9% yoy expected).

In other overnight news, the Fed has warned in its financial stability report that asset prices in key markets could still take a hit if the pandemic’s economic impact worsens in the coming months. The report said that signs of weakness are showing in commercial real estate and added that hedge fund leverage has remained elevated while life insurers are reaching debt levels not seen since the 2008 financial crisis. The report also said that “If the pandemic persists for longer than anticipated – especially if there are extended delays in the production or distribution of a successful vaccine – downward pressure on the US economy could derail the nascent recovery and strain financial markets.”

Even before the vaccine developments yesterday, risk assets had been set for a strong performance, as the news of a Biden victory over the weekend offered greater certainty for markets and removed fears that the election might be contested. That said, there’s still no sign of a concession speech from President Trump, in spite of the fact that the networks called the race for Biden back on Saturday. One thing we did note in our chart of the day yesterday was that although there are still a few votes left to count, it would only have taken around 25k votes to shift from Biden to Trump across three states for the Electoral College result to be a 269-269 tie, in which case Trump would likely have been re-elected. See here for more on this.

Though the positive news on the vaccine dominated attention yesterday, the Covid numbers continued to move in the wrong direction throughout the world. In the US, NYC Mayor Bill de Blasio warned that the city was “dangerously close” to a second wave, with the positive test rate above 2% and rising. The US reported a record number of daily infections at 144,668 over the past 24 hours. Bloomberg has reported that hospitalisations in the US could hit a record later this week. Elsewhere, California Governor Newsom said that some areas will have to scale back their reopenings under the state’s tiered system after a resurgence of cases. New Jersey also announced new restriction asking restaurants to stop serving indoors at 10 p.m. daily and banned seating at bars. In Europe, extra restrictions were announced in Hungary, which will be closing restaurants with the exception of takeaways, while secondary schools will move to distance learning. And there were also a number of high-profile positive test results, including from Ukrainian President Zelensky, as well as the US Housing and Urban Development Secretary Ben Carson. Along with the positive vaccine news, there was also positive headlines as US regulators gave approvals for Eli Lilly’s antibody therapy, which treats mild to moderate Covid-19 cases in adults and children. In not so positive news, Brazil stopped Phase 3 trials of Sinovac’s vaccine candidate citing a serious adverse event.

To the day ahead now, and the data highlights include UK unemployment data for September, French and Italian industrial production for September, and the German ZEW Survey for November. In the US, there’ll also be October’s NFIB small business optimism index, and the September JOLTS job openings. Meanwhile from central banks, there’s remarks from the Fed’s Kaplan, Rosengren, Bostic, Quarles and Brainard, as well as the ECB’s Knot.

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 13.59 PTS OR .40%   //Hang Sang CLOSED UP 285.31 PTS OR 1.10%    /The Nikkei closed UP 65.78 POINTS OR 0.26%//Australia’s all ordinaires CLOSED UP .43%

/Chinese yuan (ONSHORE) closed /Oil UP TO 40.53 dollars per barrel for WTI and 42.80 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT ITALY//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6103. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6025 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/

China not doing too good as its Consumer Price index tumbles. They witness the first drop in pork prices in over 8 months

(zerohedge)

China CPI Tumbles To 11 Year Low After First Drop In Pork Prices Since Feb 2019

In the latest confirmation that China can not be relied upon to reflate the world out of the covid crisis the same way it succeeded to pull the global economy out of the 2009 depression, moments ago Beijing reported that in October, China’s CPI inflation rose just 0.5% Y/Y in October, below the 0.8% market expectations, and declined 0.3% sequentially failing to post the expected 0.2% increase, primarily on lower food price inflation and in particular the rapid decline of pork prices which posted their first decline since 2019.

Meanwhile, PPI inflation – one of the core inputs for Chinese industrial profits – sank -2.1% Y/Y in October, also missing the -2.0% expectation, and unchanged from September. Lower price inflation in food processing related industry was offset by higher price inflation in other industries such as metal pressing and smelting and textile.

Looking at the component, in year-on-year terms, food inflation rose just +2.2% Y/Y in October from +7.9% Y/Y in September, driven by a 2.8% decline in pork prices, the first annual decline since February 2019, lowering year-over-year CPI inflation by 0.13%.

Egg prices tumbled by 16.3% Y/Y, lowering the headline CPI by 0.11%. Fresh vegetable prices rose but at a slower pace: in October, fresh vegetable CPI was +16.7% Y/Y vs 17.2% in September, adding 0.38% to headline CPI inflation.  Meanwhile, non-food CPI inflation was unchanged at +0.0% yoy in October, driven by a 17.2% plunged in fuel costs vs -14.7% yoy in September.

Core inflation (headline CPI excluding food and energy) was unchanged at +0.5% yoy in October.

Looking at gate inflation, year-on-year PPI inflation was at -2.1% yoy in October, unchanged from September, and a modest improvement from the summer, but not nearly enough to explain the surging industrial profits which, at least according to the government, are trending far higher than where PPI suggests they should be.

In month-over-month annualized terms, PPI declined by 1%, vs -5% in September. Price declines narrowed for producer goods in October (-2.7% yoy vs -2.8% yoy in September) but price decline for consumer goods widened (-0.5% yoy in October, vs -0.1% yoy in September) mainly on lower food price inflation.

By major industry, PPI inflation declined on a year-over-year basis in agricultural food manufacturing (from 3.9% yoy in September to 1.9% yoy in October); on the other hand inflation rose in ferrous metal smelting and pressing, and deflation moderated in textile and telecom industries.

The latest numbers confirm that despite the recent surge in China’s credit impulse…

… this has to translate into a sustainable and benign increase in prices, one driven by higher wages not jumping commodity costs.

Looking ahead, Goldman predicts that headline CPI inflation will moderate further in coming months in our view, on continued decline of pork prices and a very high base in coming months.

Meanwhile, despite the continued decline in CPI and PPI, China bond yields rose to the highest level in a year just ahead of the price data and are poised to keep going according to Bloomberg. This is the result of today’s inflation scare following the Pfizer news, although judging by the sharp reversal in futures, the surge to all time highs may end up being the biggest reflationary headfake in recent history.

END
CHINA/BRAZIL
China receives bad news today where Brazil halts its trial for COVID 19 vaccine after a patient’s death
(zerohedge)

China COVID-19 Vaccine Trial Halted In Brazil After Reports Of Patient’s Death

We haven’t heard too many negative reports about China’s full-court press for a COVID-19 vaccine, which involves at least half a dozen standalone projects that have reached the latest stages of testing. But just as trials for the AstraZeneca-Oxford vaccine project, and other western projects, have been halted, sometimes for weeks at a time, so now too are some Chinese projects hitting a wall.

It just goes to show that while Beijing has grown adept at using its economic muscle to browbeat its geopolitical rivals/partners into acquiescence, dealing with foreign regulators who must inevitably scrutinize Chinese vaccines (as trials of Chinese-developed vaccines are underway around the world) can have its limits, as Brazil has showed us today.

On Tuesday morning in Asia (late Monday in Brazil), Bloomberg reported that a final-stage trial of one of the Chinese “frontrunners” had been halted by Brazilian regulators due to a “serious adverse event”. The incident marks, as Bloomberg points out, “the first time that any of the Asian nation’s rapidaly developed COVID-19 shots have met with such a setback.”

The order impacts Sinovac’s vaccine candidate, “Coronavac”. The halt began on Oct. 29, nearly two weeks ago, after a subject became ill. Like in the west, details about the decision were scant, and Brazilian officials provided little insight into the nature of the problem.

Testing of Sinovac Biotech Ltd.’s vaccine, called Coronavac, has been halted in Brazil after an event that occurred on Oct. 29, said the Brazil Health Agency on Tuesday, without any further detail on the illness. The study is interrupted in accordance with regulations while the agency analyzes if the study should continue, it said. Serious adverse events that occur in drug trials include death, immediate risk of death, long term or serious incapacitation, and hospitalization. Such pauses are not uncommon in large-scale drug trials and two western developers – AstraZeneca (NYSE:AZN) Plc and Johnson & Johnson — have paused their vaccine trials in recent months due to serious adverse events, only to re-start them after investigation.

According to the NYT and its virus tracker, the Sinovac program is one of 11 experimental vaccines currently in Phase 3 testing. Heaping further embarrassment on Sinovac and Beijing, news of the suspension comes just after data from the Pfizer-BioNTech trial purported to show that the vaccine was sufficiently effective.

Beijing has already allowed tens of thousands of Chinese to receive the Sinovac candidate, along with several other experimental vaccines, as Chine has aggressively stretched the definition of “emergency” use.

While Brazil was mum, Sinovac put out a statement vouching for the safety of its vaccine.

In a statement issued on Tuesday, Sinovac said Instituto Butantan, the medical center coordinating the Brazilian trials, had deemed the “serious event” not related to the vaccine. The company said it was “confident in the safety” of its vaccine.

To be sure, the halt follows reports published late last month that a coronavirus study vaccine volunteer had died in Brazil, but it’s not clear whether the “serious adverse effect” reported by the Brazilian government was indeed the death of a study participant. Phase 3 trials employ tens of thousands of patients, and it’s certainly possible that deaths are unrelated to the virus, or the vaccine.

But it certainly raises some uncomfortable questions.

4/EUROPEAN AFFAIRS

GERMANY

The most important German report is the German ZEW.  All components fall due to the coronavirus lockdown.

(Dembik/Saxobank)

German ZEW: A First Glimpse Of The Consequences Of The Second Nationwide Lockdown

Submitted by Christopher Dembik, Head of Macro Analysis at SaxoBank

Summary: The German November ZEW Survey is at the top of the economic calendar today, but it did not really drive market sentiment as investors are still focusing on Pfizer vaccine news and hopes of swifter economic recovery in 2021.

Today’s German November ZEW report is one of the most important data set released this week. It gives us a first glimpse of the consequences of the second nationwide lockdown on economic expectations. Aligned with consensus, all the main components of the survey for November are declining, reflecting the impact of the new partial lockdown or light lockdown decided by the German government to contain the second wave of the virus. The current situation assessment is deteriorating again, sliding 4.8 points to land at minus 64.3 versus expected at minus 65.

Without much surprise, many panelist mentioned as a key concern the economic uncertainty related to the virus and the poor financial situation of the banking sector and insurers due to the low growth and low interest rates environment and risks of rising non-performing loans in coming months. This is not really new, but it will certainly continue to weight on the panelists’ mood in the coming months as long as there is no better economic visibility.

Looking into details, there are clear indications in the report that the German economy is once again edging closer to recession territory. Economic expectations, which are the most watched components of the report, are edging down again. In November, the subindex recorded a massive drop of 19.5 points to 32.8, but it is still standing way above its long-term average of 19.5.

Unlike what has happened during the previous lockdown that occurred last Spring, we don’t see a general decline in economic sentiment across all the sectors. Firms most exposed to the new restrictions (mostly in the services sector and in the construction sector) are experiencing a new deterioration in economic sentiment. The subindex for the services sector is down at 21.8 vs prior at 26.7 and the subindex for the construction sector is also falling, at 14.3 vs prior at 16.6. In contrast, all the other sectors are going through stabilization (such as the utilities sector) or are heading north (automobile, mechanical engineering and chemicals/pharmaceuticals). This gap in economic sentiment is not only indicating that some firms are less hit by restrictions than in the first lockdown but also that higher foreign demand, especially from Asia/China, is fueling increased optimism in the German manufacturing sector. It thus confirms that economic contraction in Q4 will be less important than in Q2 as business continues more or less as normal in the manufacturing sector.

There is light at the end of the tunnel. The survey has been conducted before Pfizer and BioNTech announced vaccine candidate against COVID-19 achieved success in first interim analysis from Phase 3 study yesterday. It was undoubtedly positive and unexpected news, though it is still too early at that stage to know the exact implications of these announcements. There are still a lot of pending questions such as whether the vaccine will prevent transmission of COVID-19 or how many doses will be necessary etc. That being said, the increased likelihood of an imminent vaccine might have positive trigger effects on consumers and some firms. Most of the economic damage related to the pandemic mostly results from the fear of the virus, not the virus itself. Therefore, if there is credible hope of economic normalization in 2021, perhaps in the first semester, we can expect to see in coming months an improvement in sentiment survey, including in the ZEW survey. Most firms that are currently going through turmoil, typically hairdressers, will get a decisive boost from the vaccine and will be able to see demand going back to normal almost immediately afterwards. That’s why we should not overstate the impact of today’s ZEW report and, in that sense, the market was certainly right not to pay too much attention to it.

END

EUROPE

Illegal immigration is still seeping into Europe despite the Coronavirus

(GEFIRA)

Illegal Immigration Into Europe Continues “Always & Everywhere”

Via GEFIRA,

We collected TikTok videos from 2019 and 2020. Thanks to Open Source Intelligence – OSINT – we gain an insight into the influx of Africans and Central Asians to Europe. During the 2015 immigration crisis, 1.2 million people applied for asylum in Europe. In 2017, the number of asylum applications decreased by 50%. The influx remains high and keeps increasing. In 2010, 185,000 asylum applications were registered, in 2019, this number reached 613,000. Covid-19 has only stopped registration: the influx continues.

Young North African males cross the Mediterranean by boat on their way to Europe. Moroccans regularly arrive on the Spanish beaches. It is unknown whether they are registered as refugees. The Italian Island of Lampedusa accommodates new arrivals from Tunisia and Libya. In order to relieve the island, large groups of Africans are regularly shipped to mainland Europe. NGOs – such as Spanish Open Arms – are also active in the Mediterranean. Not only do rubber dinghies but also pleasure yachts packed with people leave Turkey for the Greek islands and Italy.

As in 2015, so in 2020, thousands of young men will be making their way through Greece, Serbia and Bosnia to Western Europe. Remarkably, the Western media are silent about it. The Pakistanis or Afghans that we have encountered on social media travelled to Bosnia via Iran, Turkey, Greece, Macedonia and Serbia.

Turkey buses immigrants to the Greek border to destabilise Europe. Iran takes interest in a large Islamic underclass in Europe. The Serbian authorities are directing the immigrants towards Bosnia. Serbs in Bosnia transport the Asians to Bihać, a Muslim town in Bosnia. In Bihać, which is close to the border with Croatia, the men are taken care of in big camps. The presence of large groups of Pakistanis and Afghans leads to mounting tension between the arrivals and the local population. It is estimated that between 30,000 and 50,000 Afghan and Pakistani men take up temporary residence on the Croatian border. If the number of people is large enough, they will eventually forcibly cross the border with Croatia. Some of the immigrants show little patience. Thousands of Muslim men make their way through mountains and forests into the Schengen Area. Europe’s external borders – except the frontier between Hungary and Serbia – are poorly guarded and Frontex is hardly present. Once in the Schengen Area, the immigrants continue unhindered to France, Germany or the Netherlands.

In 2015, 1.2 million people applied for asylum in Europe. Since then, the massive influx has not stopped but slowed down. In 2018 and 2019 combined there were as many asylum applications as in 2015. More than 5 million people have applied for asylum in the European Union since 2010, which is as many as the entire population of Norway or Denmark. Every day there arrive as many asylum immigrants in Europe as there are German children born at the same time.

The number of unregistered immigrants remains unknown. The overwhelming majority of immigrants do not leave Europe even if their asylum applications are turned down. These immigrants receive support from local authorities, they earn money illegally through platforms such as Uber or by committing a crime. Millions of illegal Africans and Asians reside in Europe and the number continues to grow rapidly. European governments almost never deport immigrants. The law is not enforced when it comes to immigration. It is to be expected that these immigrants or their children will eventually be legalized. In Italy, hundreds of thousands of illegals receive residence status. As in the US, many European cities have their own immigration policies that are in breach of national policies and legislation. They provide shelter, training and other facilities for illegal immigrants.

In Pakistan alone, the number of young people matches that of the young people in the entire European Union. The number of young people in Pakistan continues to grow rapidly. The number of young people in Africa is exploding. In the coming years, the flow of immigrants to Europe will only increase. The number of young white Europeans will continue to decrease dramatically. Immigration is part of a major demographic transition. This impending demographic “third” transition is referred to as replacement-immigration or the so-called “great replacement”. In many large European cities, the indigenous youth are already a minority… while the influx of Africans and Asians continues, Always And Everywhere.

end

Paris, France

My goodness: how stupid can they be:  Paris Health official urges a canceling of Christmas and New Years due to the virus ravaging Europe.

(zerohedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAN

Rouhani invites the illegitimate “king” to return to the nuclear deal commitments

(zerohedge/Ditz.Antiwar.com)

Iran’s Rouhani Invites Biden To Return To Nuclear Deal Commitments

Authored by Jason Ditz via AntiWar.com,

In weekend comments, Iranian President Hassan Rouhani called on President-elect Joe Biden to return to fulfilling commitments under the P5+1 nuclear deal, saying Iran would continue its resistance to the US until they return to the deal.

There have been indications that Biden wants to return the US to the deal, though some other top Democrats suggested that the US intends to impose another tougher deal on Iran. It’s not clear that Iran is going to be interested in that.

Rouhani says he wants those nations sanctioning Iran to recognize their method has failed and try a new approach. That might include talks, but it’s key for the US to suggest that they really are looking for a break from the old strategy.

“We hope that the experience of these three years has been a lesson to them that will make the next US administration follow the law and return to all its commitments,” Rouhani said in televised comments.

With the defeat of Trump, FM Javad Zarif is urging all of Iran’s neighbors to cooperate, saying they could come together on their common interests going forward.

There is no word any of them has accepted this overture yet, but the election is still being processed by many, and nations will likely come through with reactions in the weeks to come.

Trump’s demand that the world reflect his own hostile stance on Iran clearly did fail, and the rest of the world will be looking for a new approach with or without the US. With Biden, the chances are that diplomacy is a realistic option.

END

6.Global Issues

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 TUESDAY morning 7:00 AM….

Euro/USA 1.1800 DOWN .0025 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /GREEN EXCEPT ITALY

USA/JAPAN YEN 105.25 UP 0.118 (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 1.3237   UP   0.0069  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3033 UP .0025 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  MONDAY morning in Europe, the Euro FELL BY 25 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1800 Last night Shanghai COMPOSITE DOWN 13.59 PTS OR .40% 

//Hang Sang CLOSED UP 285.31 PTS OR 1.10% 

/AUSTRALIA CLOSED UP 0,43%// EUROPEAN BOURSES ALL GREEN EXCEPT ITALY

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN EXCEPT ITALY

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 285.31 POINTS OR 1.10% 

/SHANGHAI CLOSED DOWN 13.59 PTS OR .40% 

Australia BOURSE CLOSED UP 0.43% 

Nikkei (Japan) CLOSED UP 65.75  POINTS OR 0.26%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1879.50

silver:$24.12-

Early TUESDAY morning USA 10 year bond yield: 0941% !!! UP 1 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.7234 UP 1  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 92.79 UP 6 CENT(S) from  THURSDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  TUESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.15 UP 2 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.04.%  UP 2   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.20%//UP 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.76 UP1 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: RISES TO –.548% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.24% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.1811  DOWN     .0013 or 13 basis points

USA/Japan: 105.31 UP .182 OR YEN DOWN 18  basis points/

Great Britain/USA 1.2990 DOWN .0017 POUND DOWN 17  BASIS POINTS)

Canadian dollar UP 17 basis points to 1.2990

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,CNY: closed UP 6.6157    ON SHORE  (UP)..

THE USA/YUAN OFFSHORE:  6.6042  (YUAN up)..

TURKISH LIRA:  8.13  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.04%

Your closing 10 yr US bond yield UP 2 IN basis points from MONDAY at 0.958 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.743 UP 3 in basis points on the day

Your closing USA dollar index, 92.78 UP 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 TUESDAY: 12:00 PM

London: CLOSED UP 110.56  1.79%

German Dax :  CLOSED UP 67.14 POINTS OR .51%

Paris Cac CLOSED UP 82.65 POINTS 1.55%

Spain IBEX CLOSED UP 257.70 POINTS or 3.45%

Italian MIB: CLOSED UP 101.40 POINTS OR 0.49%

WTI Oil price; 40.99 12:00  PM  EST

Brent Oil: 43.13 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    76.51  THE CROSS HIGHER BY 0.15 RUBLES/DOLLAR (RUBLE LOWER BY 15 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.48 FOR THE 10 YR BOND 1.00 PM EST EST

END

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

Closing Price f0r Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OILPRICE 4:30 PM : 41.38//

BRENT :  43.60

USA 10 YR BOND YIELD: … 0.955..up 2 basis points…

USA 30 YR BOND YIELD: 1.751 up 3 basis points..

EURO/USA 1.1808 ( DOWN 16   BASIS POINTS)

USA/JAPANESE YEN:105.30 UP .160 (YEN DOWN 16 BASIS POINTS/..

USA DOLLAR INDEX: 92.81 UP 9 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3250 UP 82  POINTS

the Turkish lira close: 8.16

the Russian rouble 76.56   DOWN 0.20 Roubles against the uSA dollar. (DOWN 20 BASIS POINTS)

Canadian dollar:  1.3038 DOWN 30 BASIS pts

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

The Dow closed UP 262.95 POINTS OR 0.90%

NASDAQ closed DOWN 159.93 POINTS  1.37%


VOLATILITY INDEX:  24.96 CLOSED DOWN .77

LIBOR 3 MONTH DURATION: 0.205%//libor dropping like a stone

USA trading today in Graph Form

Momentum Massacre Trounces Tech Stocks; Bonds Drop, Bullion Pops

Since the Pfizer vaccine headlines hit, markets have gone just a little bit slightly turbo with Small Caps up over 4% and Mega-Cap tech down almost 6%…

But don’t overdose on all that exuberance…

Nasdaq found support at its Zero Gamma level once again…

This is the biggest two-day surge in value over growth in history…

Source: Bloomberg

The rotation from growth to value is nowhere more evident than in Small Caps vs Mega-Tech…

This is the biggest 2 day outperformance of the Russell 2000 over the Nasdaq 100 since March 2001

Source: Bloomberg

Momentum’s collapse continues – the biggest 2-day crash in history…

Source: Bloomberg

With yet another massive reversal in the momo/value trade…

Source: Bloomberg

FANG Stocks continued their slide…

Source: Bloomberg

Credit and equity protection costs both tumbled but VIX (equity) remains notably decoupled from credit risk…

Source: Bloomberg

Treasury yields were once again higher on the day (long-end up around 5bps)…

Source: Bloomberg

30Y yields stalled once again around the same level as the election-night peak…

Source: Bloomberg

The yield curve (2s30s) steepened to its highest since May 2017…

Source: Bloomberg

But we note that, for now, yields are not following the correlation regime with value/momo that has been in place for months…

Source: Bloomberg

The dollar shrugged today, going nowhere…

Source: Bloomberg

Cryptos drifted very modestly lower today…

Source: Bloomberg

Gold futures managed gains today but was unable to reach $1900…

Silver futures managed gains…

WTI pushed back above $41 ahead of tonight’s API inventory data…

Finally, as we noted earlier, stocks are at their most expensive relative to bonds in two years…

Source: Bloomberg

TINA is dead… but not from COVID…

Source: Bloomberg

a)Market trading/this morning

S&P Gives Up Vaccine Gains, Tech Is Tumbling As Momo Meltdown Accelerates

Well that all de-escalated quickly.

After the exuberance yesterday, the afternoon weakness is continuing today with the S&P now underwater from the Pfizer headlines and Nasdaq down over 6%…

The tech wreck is being accelerated by the record-breaking collapse in momentum…

And for now, the recent surge in yields is stalling at recent highs…

…ignoring the momo/value pair’s collapse…

The dollar couldn’t care less and is flatlining for now..

…we ‘re gonna need another vaccine!

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

Job Openings Increase Again As Pace Of Hiring Slows

One month after the October JOLTs report showed the first monthly drop in job openings since the March covid crash, moments ago the BLS reported that in September job openings in the US increased again, rising by 6.436MM, up from the 6.352MM downward revised October print (originally 6.493MM), if missing the 6.5MM consensus estimate.

According to the BLS, job openings decreased mostly in federal government (-20,000), and was little changed in all four regions.

Separately,  we already knew that the series of 24 consecutive months in which there were more job openings than unemployed workers ended with a thud in March, in April it was an absolute doozy with 18 million more unemployed workers than there are job openings, the biggest gap on record. Since then the the gap has closed somewhat, and in September, there were 6.1 million more unemployed than available job openings (after 7.2 million in August).

As a result, there were just under 2 unemployed workers for every job opening, down from 4.6 at the peak crisis moment in April.

Meanwhile, after a flattish month for hiring in August (which followed the sudden and unexplained plunge in hiring in July, when the total number of job hires dropped by a 1.1 mil

lion to just 5.9 million) in September hiring once again slowed down, rising by 5.871MM  in September, a decline of 81K from the 5.952MM in August, which is well below the record hiring pace set in May with 7.2MM.

Hires decreased in federal government (-256,000), largely due to a drop in demand for temporary 2020 Census workers. Hires also decreased in retail trade (-105,000) and educational services (-23,000). The number of hires increased in accommodation and food services (+137,000), wholesale trade (+73,000), and transportation, warehousing, and utilities (+46,000).

With hiring more or less flat in September, the number of total separations was also little changed at 4.7 million. The total separations level increased in other services (+77,000). Total separations also increased in federal government (+31,000), largely the result of temporary 2020 Census workers.

Of these, the number and rate of layoffs and discharges decreased to 1.3 million (-200,000) and 0.9 percent, respectively in September. The layoffs and discharges level decreased in construction (-102,000) and wholesale trade (-40,000). The number of layoffs and discharges increased in federal government (+37,000), largely due to the release of temporary 2020 Census workers. Layoffs and discharges were little changed in all four regions.

Finally, after the record surge in the number of American quitting their jobs reported back in June, the number of quits moderated and declined in August for the first time since April but has now rebounded again, and in September, an additional 179K people quit their job, bringing the total to 3.018MM. Quits increased in other services (+65,000), construction (+39,000), and arts,
entertainment, and recreation (+17,000).

iii) Important USA Economic Stories

Several big stories today

Bill Barr initiates a voter fraud investigation. The Deep Stater Investigator Pilger quits within minutes of Bill Barr’s probe. This no good crooks was involved in letting Lois Lerner off, in the IRIS tax exempt scandal. It is unusual for the Justice Dept to enter the fray this early but as you will see (down below) Barr had no choice but to enter the investigation

(zerohedge)

Top DoJ Voter Fraud Investigator Quits After AG William Barr Authorizes Probe

Update (2140ET): In response to AG Barr’s decision, NYTimes reports that Richard Pilger – who oversees voter fraud investigations – has quit:

Having familiarized myself with the new policy and its ramifications… I must regretfully resign from my role as director of the Election Crimes Branch.”

Does it not seem odd that when asked to investigate voter fraud, the gentleman who is in charge of investigating voter fraud chooses to resign rather than do his f**king job?

Perhaps it was his alleged involvement in the Lois Lerner IRS targeting Tea Party groups debacle that triggered this resignation?

*  *  *

In a day when numerous lawsuits were filed challenging the outcome of the presidential election, and when prominent Republicans such as Mitch McConnell finally came out in support of Trump’s contention that the election was rigged, late on Monday Attorney General William Barr authorized the Justice Department to launch a probe into “substantial allegations” of voter fraud in the 2020 election, the AP first reported.

In a letter to US attorneys across the country, Barr said they could conduct investigations “if there are clear and apparently-credible allegations of irregularities that, if true, could potentially impact the outcome of a federal election in an individual state.”

According to the Washington Times, this is an unusual move, since Justice Department policy prohibits any action that could influence the outcome of an election until the vote is formally certified. But the Justice Department is responsible for ensuring the integrity of federal elections.

Barr’s memo comes days after presumptive President-elect Joseph R. Biden was declared the winner by several media outlets in the 2020 presidential election. President Trump has not conceded and has launched several legal efforts challenging the results in states where the voting margins are razor-thin. By granting prosecutors the power to pursue such cases, U.S. attorneys around the country could give Trump more ammunition for his lawsuit.

The DOJ’s action, which many republicans will claim is long overdue, comes after Republicans in recent days turned up the heat on Barr to take some action in response to the voter fraud allegations. Earlier on Monday, Barr reportedly met with McConnell on Monday.

On Friday, nearly 40 Republican members of Congress sent a letter to the AG asking him to get to the bottom of the voter fraud claims.

“What are you doing to ensure the integrity of the voting and counting process right now?” the Republicans asked Mr. Barr in their letter. The lawmakers also called on the attorney general to commit to “using all the resources” at his disposal to ensure only legal votes are being counted “in a fully transparent manner.”

Also last week, the Nevada Republican Party sent a criminal referral to the Justice Department claiming they have received reports of at least 3,062 instances of voter fraud in the battleground state.

“We expect that number to grow substantially,” the party said in a tweet. “Thousands of individuals have been identified who appear to have violated the law by casting ballots after they moved from NV.”

The Trump campaign has filed lawsuits in several key battleground states that Biden won, asking local judges to either invalidate or stop counting mail-in ballots, a record number of which were cast this year amid the coronavirus pandemic.

Earlier in the day several prominent Republicans backed Trump’s claims of voter fraud or his right to challenge the count, including Senate majority leader Mitch McConnell:  “Obviously no states have yet certified their election results. We have at least one or two states that are already on track for a recount and I believe the president may have legal challenges underway in at least five states,” McConnell said during a floor speech Monday.

The Trump admin has also accused local election officials of not allowing their representatives to watch vote counts and claiming illegal votes were cast in states including Michigan, Nevada and Pennsylvania.

As a reminder, states have until Dec. 8 to resolve election issues, including recounts and legal battles. The Electoral College members meet on Dec. 14 to finalize the outcome.

END
Story NO 2.  This is big.  They have discovered that a whopping 132,000 ballots were cast
in Georgia even though the home owners have been identified as having moved to another state.  These votes are most likely ineligible.
My bet:  the Democrats needed these names as hard copy.  All of these ballots were for Biden.  At 2 pm these votes entered the tally machines via Dominion/Scorecard software when nobody was watching.  Others noticed the entries later in the evening.
Hoft/Gateway Pundit)

HUGE BREAKING NEWS IN GEORGIA – 132,000 Ballots in Fulton County, Georgia Have Been Identified Which Are Likely Ineligible

Huge news tonight.  There are reportedly 132,000 change of address flags in Fulton County, Georgia ballots. These ballots are likely ineligible.

Kyle Becker and People’s Pundit on Twitter announced moments ago that 132,000 ballots in Fulton Country Georgia are likely ineligible.

As noted above, the current difference between President Trump and Joe Biden after days of ballot harvesting by the left is around 10,000 ballots.

If these ballots are deemed ineligible, the state of Georgia is almost certainly won by President Trump and this is before the illegal voter harvesting in recent days is addressed.

END

Real Politics

a real no no!! It seems that Michigan voting machines were connected to the internet and thus easy to hack

(Real politics/Jinno)

Sworn Affidavit Claims Michigan Voting Machines Were Connected to the Internet, Which Goes Against NEDC Guidelines

Ben Jinno

More whistleblowers are coming out to speak out on instances of voter-fraud across the country. On Monday afternoon, there are reports of another sworn affidavit out of Michigan in a case where electronic voting machines were connected to the internet.

Patrick Colbeck, a poll-watcher from Wayne County, Michigan, told investigators that multiple machines used to tabulate votes showed an icon in the corner of the screens indicating that they were connected to the internet.

Here is what The Epoch Times reported:

At approximately 11 p.m. on Nov. 3, Patrick Colbeck observed an icon identifying an active internet connection on the screens of the computers used to tabulate and adjudicate ballots.

“All it takes to confirm the connectivity status of a Windows computer is to roll the cursor over the LAN connection icon in the bottom right corner of the display,” Colbeck’s sworn affidavit states. “When there is no internet connection, a unique icon showing a cross-hatched globe appears. I proceeded to review the terminal screens for the Tabulator and Adjudicator computers and I observed the icon that indicates internet connection on each terminal. Other poll challengers can attest to this observation as required.”

Colbeck, a poll challenger and former Michigan state senator, said that the area had wireless routers set up with networks called “CPSStaff” and “CPSStaff” broadcast in the area. He added that a security incident that occurred at 10 a.m. on Election Day may have been caused by the voting equipment being connected to the internet.

Colbeck’s affidavit is one of six sworn witness statements cited in a lawsuit (pdf) filed in Michigan on Nov. 9. The lawsuit alleges numerous instances of voter fraud. According to the court documents, after election officials announced that the last batch of absentee ballots had been received, trays of unsealed, unsecured ballots without envelopes arrived at the TCF Center.

continuing

“There were tens of thousands of these absentee ballots, and apparently every ballot was counted and attributed only to Democratic candidates,” the lawsuit states. The ballots allegedly arrived in vehicles with out-of-state license plates, a separate sworn affidavit states.

Elections officials instructed poll workers to backdate ballots that arrived past the deadline, ignore signature mismatches, and push through ballots despite questionable validity, the lawsuit alleges.

“I processed absentee ballot packages to be sent to voters while I worked at the election headquarters in September 2020 along with 70-80 other poll workers,” Jessy Jacob, a Michigan poll worker wrote in a sworn affidavit. “I was instructed by my supervisor to adjust the mailing date of these absentee ballot packages to be dated earlier than they were actually sent. The supervisor was making announcements for all workers to engage in this practice.”

This should be extremely concerning for the Biden Campaign and even more so to the American people.

The National Election Defense Coalition (NEDC) has warned states about the practice of connecting machines to private routers in order to transmit voter data:

It’s obvious that connecting voting machines directly to the Internet through wireless modems or other means increases the vulnerability of those systems to hacking. Though we have frequently been told that voting machines are not connected to the Internet[1]  this is not always the case. Many states’ voting machines include wireless modems which transmit their unofficial results over the Internet. Some states allow their vote tabulation computers to be connected to the Internet.

These configurations provide increased opportunities for nation-state actors, partisan criminals, hacktivist or other malign attackers to gain access to our voting machines and manipulate and/or disrupt our elections.

Last year, with our allies and over two dozen computer security experts, NEDC sent this letter to the Department of Homeland Security and the U.S. Election Assistance Commission (EAC) is the federal agency responsible for creating federal guidelines for voting systems and certifying equipment to those standards. We urged the agencies to encourage states to discontinue the use of wireless modems.

The EAC has until now refused to issue guidelines banning the use of wireless modems. The EAC has even insisted that “no EAC certified voting system is connected to the Internet,” but that’s only because no vendor has chosen to pursue EAC certification for a voting system configured with wireless modems. The current federal standards would allow wireless modems in federally certified systems and it’s possible if not likely the next version of the federal VVSG will continue this, if citizens don’t speak out.

More and more lawsuits are opening every hour across the country. Whistleblowers and sworn affidavits are being filed in every swing state. It may be weeks before we get to the bottom of all of this, but rest assured that the Trump Administration will get to the bottom of it.

end

10,000 Dead People Returned Mail-in Ballots in Michigan, Analysis Shows

November 10, 2020 Updated: November 10, 2020

More than 10,000 people confirmed or suspected dead have returned their mail-in ballots to vote in Michigan, according to an analysis of the state’s election data.

About 9,500 voters confirmed dead through the Social Security Death Index (SSDI) are marked in the state’s mail voting database as having returned their ballots. Another nearly 2,000 are 100 years old or more and are not listed as known living centenarians.

The analysis was provided by Richard Baris, director of Big Data Poll.

The data indicates that somebody else was trying to vote on behalf of these people.

“It’s also entirely possible that some of them aren’t even real people,” Baris told The Epoch Times via email. “If someone is 110 or some ridiculous age, we should have their death record but do not.”

Americans older than 110 are exceedingly rare. Only a handful of such seniors are known to live in Michigan.

According to the 2010 Census, there were 1,729 centenarians in Michigan (pdf).

Tracy Wimmer, spokeswoman for the Michigan Secretary of State, indicated that even if somebody tried to vote on behalf of a deceased person, the vote would be rejected.

“Ballots of voters who have died are rejected in Michigan, even if the voter cast an absentee ballot and then died before Election Day,” she previously told The Epoch Times via email.

However, Baris wasn’t convinced.

“While I’m open to the idea some of these have been rejected, I’m not open to any outright dismissal they all were rejected,” he said in a Nov. 8 tweet.

The data on how many ballots were rejected isn’t available yet, Wimmer said.

She said that “a ballot received for a living voter may be recorded in a way that makes it appear as if the voter is dead.”

“This can be because of voters with similar names, where the ballot is accidentally recorded as voted by John Smith Sr when it was actually voted by John Smith Jr; or because of inaccurately recorded birth dates in the qualified voter file.”

This only happens “on rare occasions,” she said.

Democratic nominee Joe Biden leads in Michigan by less than 150,000 votes. The Trump campaign filed a lawsuit in Michigan to halt vote counting until Republican observers are granted adequate access. A GOP-led Michigan legislature is investigating allegations of election irregularities in the state.

In a Nov. 9 lawsuit, a Detroit poll watcher alleged thousands of mail-in ballots from people who weren’t properly registered to vote were added to vote counts.

Poll operators were adding names and addresses to the poll book with made-up birth dates, such as 1-1-1900, he said in a sworn affidavit.

Baris said the mail voting data he worked from likely isn’t up to date enough to capture any irregularities that happened Election Day and after.

“If they did that on Election Day in Michigan, then we likely wouldn’t know until December,” he said. “If it is true, then they’d unfortunately get away with it in the short-term.”

President Donald Trump is challenging the results of the elections in several states where Biden holds a tight lead. The Trump campaign is alleging invalid ballots were counted for Democrats, valid ballots were thrown away for Republicans, and Republican ballot watchers were prevented from meaningfully observing the vote counting process.

Follow Petr on Twitter: @petrsvab
end

Ten Attorneys General Join Supreme Court Case Against Pennsylvania Mail-In Ballot Deadline

As Republicans across the country escalate efforts to investigate credible allegations of fraud during the 2020 election,  a group of ten Republican Attorneys General have filed an ‘amicus brief’ with the US Supreme Court in a case challenging the legality of late mail-in ballots in Pennsylvania.

AGs from Missouri, Alabama, Arkansas, Florida, Kentucky, Louisiana, Mississippi, South Carolina, South Dakota, and Texas filed in Republican Party of Pennsylvania v. Boockvar, which challenges the Pennsylvania Supreme Court’s late October decision to allow ballots arriving after Election Day to be counted – despite, as The Federalistnotes – state laws mandating otherwise.

Free and fair elections are the cornerstone of our Republic and it’s one of the reasons why the United States is the envy of the world,” said Missouri AG Eric Schmitt in a Monday press conference. “We have to ensure that every legal vote cast is counted in that every illegal vote cast is not counted.”

Associate Justice Samuel Alito Jr. already granted the Republican Party of Pennsylvania’s request and temporarily ordered all counties segregate mail-in ballots that arrived after 8 p.m. on Election Day from others, but the lawsuit is still pending petition in the highest court.

The attorneys’ hope is that by filing as “friends of the Court” and demonstrating a “strong interest” in the ramifications of the Supreme Court’s potential decision that SCOTUS may be more willing to take up the case. The Federalist

“The actions taken by the Pennsylvania Supreme Court are one of the most breathtaking abuses of judicial authority that I’ve seen in my four-plus years as attorney general,” said Oklahoma AG Mike Hunter.

Plaintiffs argue that the PA Supreme Court exceeded its authority and violated the Constitution’s Election Clauses which give state legislatures, not the courts, the power and “unique role” to decide various election procedures.

“Our system of federalism relies on separation of powers to preserve liberty at every level of government, and the separation of powers in the Election Clauses is no exception to this principle,” reads the amicus brief.

They also believe the decision handed down by the Pennsylvania Court expanded the potential for voter fraud. This decision, the attorneys general argue, may have affected the weight of votes in states outside of Pennsylvania which is in direct violation of previous Court rulings stating that every vote must be “fairly counted without its being distorted by fraudulently cast votes.”

“Regardless of the election’s outcome, only legal ballots should be counted,” the brief continues, citing Anderson v. United States from 1974. The Federalist

“We as attorneys general and we, as the chief legal officers of our state have a responsibility to address that kind of judicial abuse of authority because of the precedent that that decision represents can affect the outcome of elections, not only in Pennsylvania but national elections,” said Oklahoma AG Hunter.

Things are heating up when it comes to investigating the integrity of the election. On Monday, Attorney General William Barr authorized DOJ officials to open inquiries into potential irregularities – a move which led to the swift departure of the agency’s top voter fraud investigator, Richard Pilger.

Shortly after meeting with Barr on Monday, Senate Majority Leader Mitch McConnell (R-KY) delivered a floor speech asserting that President Trump is “100% within his rights” to challenge the results of the election.

Former Vice President Joe Biden, meanwhile, is acting like the election is settled. In addition to insisting Trump concede, Biden is expected to name a chief of staff as early as this week.

END

For those who missed yesterday here is a recap of events concerning the Dominion Software coupled with Hammer and Scorecard and how this was used to change the vote:

From Dave Janda

Dave’s interview with General McInerney was two days prior to the election.  Ask yourself this, if they knew ahead of time “how” the steal was going to be done, do you not believe they had protocols in place to document the fraud?  I would suggest we will have some very interesting times immediately ahead as proof, proof and more proof of a stolen election (in reality a COUP) is released!

Here is the interview of General Tom McInerney 2 days PRIOR to the election on how the Deep State was going to electronically steal the election for Basement Joe with The Hammer/Scorecard

https://davejanda.com/general-tom-mcinerney-hammers-the-deep-state-voter-fraud-operation/

Here is the interview of General Flynn’s Attorney Sidney Powell with Lou Dobbs on the Friday after the election regarding  “the steal”.

https://davejanda.com/lou-dobbs-sidney-powell-tom-fitton-on-the-hammer-scorecard/

Here is the article BEFORE the election, October 31, 2020 about Hammer/Scorecard by Investigative Journalists Mary Fanning & Alan Jones:

https://theamericanreport.org/2020/10/31/biden-using-scorecard-and-the-hammer-to-steal-another-u-s-presidential-election-just-like-obama-and-biden-did-in-2012/

Thanks!

Dave

iv) Swamp commentaries)

the illegitimate king has spoken

Actually I think that Trump should ask Biden if he would concede!

(zerohedge)

Biden Says Trump Refusal To Concede Is “An Embarrassment”, Releases List Of All Transition Teams

While president Trump mounts a full-blown legal challenge to the election results, during a Tuesday press conference, Joe Biden called Donald Trump’s refusal to concede the election “an embarrassment” and vowed to go push forward with the transition of power regardless of Republicans’ efforts to challenge the results.

“I just think it’s an embarrassment, quite frankly,” Biden told reporters in Wilmington, Delaware. “How can I say this tactfully? I think it will not help the president’s legacy.”

“I’m confident that the fact they’re not willing to acknowledge we won at this point is not of much consequence in our planning and what we’re able to do” Biden added.

Asked if he had something to say to Trump, Biden replied, “Mr. President, I look forward to speaking with you” adding that the failure of the administration to cooperate with his transition “does not change the dynamic at all of what we’re able to do.”

One day after Mitch McConnell backed Trump’s effort to challenge alleged improper votes, Biden also tried to pressure the Republicans into withdrawing their support for Trump: “I think that the whole Republican Party has been put in a position, with a few notable exceptions, of being mildly intimidated by the sitting president.”

During Biden’s address, the Harris-Biden campaign also released its list of agency review teams, tasked with “ensuring a smooth transfer of power” after Trump leaves office. As previously noted, it includes former Goldman partner and CFTC head Gary Gensler who will be Biden transition agency review team leader for Federal Reserve, Banking & Securities Regulators, per a transition source.

The full list can be found here.

end

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

AP last night: Attorney General William Barr has authorized federal prosecutors across the U.S. to pursue “substantial allegations” of voting irregularities before the 2020 presidential election is certified

 

NBC’s @mikememoli: Joe Biden says he was informed of Pfizer vaccine development last night [Sunday]. “I congratulate the brilliant women and men who helped produce this breakthrough and to give us such cause for hope.”

@PhilipWegmann: Senior White House aide tells me they learned of the vaccine from press reports and, to the best of their knowledge, Pfizer didn’t notify admin beforehand.

Pfizer, BioNTech say Covid vaccine is more than 90% effective—‘great day for science and humanity’ – A more than 90% effective coronavirus vaccine would be roughly on par with one dose of a measles vaccination, which is about 93% effective, according to the Centers for Disease Control and Prevention.  Comparatively, the CDC says a vaccine for influenza reduces the risk of flu illness by between 40% to 60% among the overall population.

https://www.cnbc.com/2020/11/09/covid-vaccine-pfizer-drug-is-more-than-90percent-effective-in-preventing-infection.html

Dow futures extend surge to more than 6% after Pfizer’s coronavirus vaccine announcement http://cnb.cx/3eEJgKC

Moderna Covid vaccine could have similar results to Pfizer drug, Fauci says

US infectious disease expert says ‘extraordinary’ results could suggest second vaccine will be available

     Pfizer’s 44,000-person trial has found 94 cases of Covid-19 among patients who had not been previously infected. Fewer than nine patients among those who had the coronavirus received two shots of the vaccine… Pfizer said it not participate in Donald Trump’s Operation Warp Speed drug development programme, though vice president Mike Pence, who leads the White House coronavirus task force, attributed the company’s results to the “public-private partnership forged by the president.”… the company did receive a $2bn contract from the government to provide 100 million doses if the drug proved effective… https://www.independent.co.uk/news/world/americas/covid-coronavirus-vaccine-moderna-pfizer-b1719770.html

 

CNN’s @ddale8: Pfizer now says it *is* a participant in Warp Speed. Spokesperson notes its significant purchase agreement with the US government.  Pfizer’s head of vaccine development had told NYT it wasn’t part of Warp Speed because it didn’t take research $, but that’s not the whole story.

 

Biden Camp Celebrates Pfizer News, Warns Masks Better Option for Fighting COVID; Novovax Gets ‘Fast Tracked’   https://www.zerohedge.com/markets/pfizer-biontech-trials-show-covid-19-vaccine-more-90-effective

 

Bloomberg: Biden Says U.S. Still Facing a Very Dark Winter and Vaccine Likely Won’t Widely Be Available for Months

 

Biden: “Today’s news does not change this urgent reality,” he said in the statement, according to NBC News. “Americans will have to rely on masking, distancing, contact tracing, hand washing and other measures to keep themselves safe well into next year.”

https://www.charlotteobserver.com/news/coronavirus/article247071467.html

@kerpen: 94 confirmed events when only 62 were required means Pfizer absolutely could have released its interim results before the election, but chose not to.

@charliekirk11: Pfizer’s announcement today and their decision to delay it until AFTER the election did more to interfere in our elections than Russia ever did. [Trump repeatedly warned that Big Pharma hated him for lowering drug prices.]

@realDonaldTrump: As I have long said, @Pfizer and the others would only announce a Vaccine after the Election, because they didn’t have the courage to do it before. Likewise, the @US_FDA should have announced it earlier, not for political purposes, but for saving lives!

On Monday morning, oil soared as much as 11.3%; gold tanked $100; the dollar soared.  Bonds tumbled over 3 points!  The NY Fang+ Index tumbled after the NYSE open while the DJIA soared 1600 points on the NYSE open.  By the European close, the DJIA had lost 600 points of its rally.

A Trucker Strike in November Could Be another Nail in the Supply Chain Coffin

We will not participate in the leftist, Biden/Harris Green New Deal. We do not support the banning of fracking. The United States of America operates as a capitalistic economy and OIL is the fuel she survives on… we will STOP ALL TIRES for 24 hours on Veterans Day 11/11/20. If this is not effective and our leaders do not respect that blue-collar truck drivers are having to face domestic terrorism, primarily in democrat run cities all over the United States, and that we do not support the banning of fracking in any way, then we will have our second STOP OF TIRES for FOUR full days 11/26/20-11/29/20.

https://www.zerohedge.com/personal-finance/trucker-strike-november-could-be-another-nail-supply-chain-coffin

Today – Normally after explosive rallies there is follow through in the ensuing session.  However, with NQZs peaked on Sunday night and ESZs peaking about 50 minutes before the NYSE open, it is reasonable to assume that those who knew, and reports state that Biden knew, about Pfizer’s Covid vaccine exploited the gullible public buying on Monday.

Furthermore, despite the MSM gas lighting/psych op on Biden as ‘president-elect’, McConnell and leading GOP Senators, after running silent and deep, surfaced yesterday to back Trump’s inquiry into vote irregularities.  Given how squeamish GOP leaders are, they must have been presented with evidence and/or polling data that induced them to come out of their safe places.

Fox’s @jason_donner: Mitch McConnell on Senate Floor: “President Trump is 100% within his rights to look into allegations of irregularities and weigh his legal options…And if Democrats feel confident they have not occurred, they should have no reason to fear any extra scrutiny.”

@ChadPergram: Schumer: The GSA Administrator must sign the paperwork immediately in order to allow the work of the presidential transition to proceed. [Why the rush before official certification?]

Graham: If GOP Doesn’t Fight, There Will ‘Never Be another Republican President Elected Again’  https://saraacarter.com/graham-if-gop-doesnt-fight-there-will-never-be-another-republican-president-elected-again/

Dominion ballot software under scrutiny, as GOP officials call for investigations

https://saraacarter.com/dominion-ballot-software-under-scrutiny-as-gop-officials-call-for-investigations/

Why did Hillary Clinton adamantly and publically command Biden to NOT concede the election “under any circumstances”?

@charliekirk11: Democrats & the Biden campaign wouldn’t be trying to rush their transition process so much if they didn’t think there was massive fraud to be uncovered in our elections.

@realDonaldTrump: The threshold identification of Ballots is turning out to be even bigger than originally anticipated. A very large number of Ballots are impacted. Stay tuned!

    Nevada is turning out to be a cesspool of Fake Votes. @mschlapp & @AdamLaxalt are finding things that, when released, will be absolutely shocking!

    Wisconsin is looking very good. Needs a little time statutorily. Will happen soon!  Pennsylvania prevented us from watching much of the Ballot count. Unthinkable and illegal in this country.

Pennsylvania Supreme Court to Consider Observer Challenge – BBG

Michigan lawmakers issued subpoena to election officials during Saturday hearing

The subpoena seeks documents pertaining to the state’s election process

https://justthenews.com/politics-policy/elections/michigan-lawmakers-issued-subpoena-during-saturday-hearing

Penn Mail Carrier Says He Was Ordered to Collect Late Ballots; Graham Demands Action…

https://www.dailywire.com/news/pennsylvania-mail-carrier-says-he-was-ordered-to-collect-late-ballots-graham-demands-action-from-doj

Sworn Affidavit Claims Michigan Voting Machines Were Connected to the Internet, Which Goes Against NEDC Guidelines    https://trendingpolitics.com/sworn-affidavit-claims-michigan-voting-machines-connected-to-the-internet-which-goes-against-nedc-guidelines/#.X6nWQbLb-K1.twitter

The FBI Has Opened 3 Formal Investigations; 2 in Michigan, 1 in Pennsylvania” – @jsolomonReports

Witness says Biden-Harris van unloading ballots at Nevada counting center, Trump campaign says

Matt Schlapp: ‘We now have thousands of examples of voter irregularity’

https://www.washingtontimes.com/news/2020/nov/8/matt-schlapp-says-whistleblower-saw-biden-harris-v/

132,000 Ballots in Fulton County, Georgia Have Been Identified Which Are Likely Ineligible

132,000 “Change of Address” RED FLAGS in Fulton County, GA. These votes are “highly likely ineligible to vote and have moved,” per source…Biden leads Georgia by 10K votes as of last update…

https://www.thegatewaypundit.com/2020/11/huge-breaking-news-georgia-132000-ballots-fulton-county-georgia-identified-likely-ineligible/

Ballot Clerks in Wisconsin Allegedly Added Witness Statements to Thousands of Invalid Ballots

In Wisconsin, the law states that ballots returned by a third party absent a witness statement are invalid and not to be counted… Instead, multiple sources tell “The Dan O’Donnell Show,” municipal clerks and vote counters across the state simply filled out witness signatures themselves. Acting on false and unlawful advice from the Wisconsin Elections Commission (WEC), these clerks may have inadvertently invalidated thousands of absentee votes.  “The statute is very, very clear,” said retired Wisconsin Supreme Court Justice Michael Gableman, who worked as a poll watcher in Milwaukee on Election Day. “If an absentee ballot does not have a witness address on it, it’s not valid. That ballot is not valid.”…

https://redstate.com/scotthounsell/2020/11/08/ballot-clerks-in-wisconsin-allegedly-added-witness-statements-to-thousands-of-invalid-ballots-n276848

@LizRNC: Detroit elections worker: “I was instructed by my supervisor to adjust the mailing date of these absentee ballot packages to be dated earlier than they were actually sent. The supervisor was making announcements for all workers to engage in this practice.” EVIDENCE! https://t.co/pZdyzb71Y2

@BarnettforAZ: 42,000 votes in AZ were casted just for Biden and no other candidates marked.

Dr. SHIVA Ayyadurai, MIT PhD. Inventor of Email @va_shiva: If State election officials are unable to produce the BallotImages – the objects used to count the vote on electronic machines – , this means there has been a serious break in the chain of custody, violating the integrity of the election, and announced numbers must be deemed invalid, until all paper ballots are hand-counted. The lawsuit – I filed yesterday, reveals that MA actively destroys Ballot Images… I urge all Americans to read pp. 9-18 of my Federal lawsuit & get educated WHY they must DEMAND #BallotImages from election officials.

https://twitter.com/va_shiva/status/1325620671423143937?s=02

Dr. SHIVA Files Complaint against Suppression of His First Amendment Rights

https://vashiva.com/dr-shiva-files-complaint-against-suppression-of-his-first-amendment-rights/

Media shuns Trump’s claims of election interference after embracing Clinton’s in 2016

In a 24-hour period between mid-morning Thursday and Friday, Twitter censored six of Trump’s posts. Trump’s posts weren’t visible. Instead, there was this note attached by Twitter: “Some or all of the content shared in this Tweet is disputed and might be misleading about an election or other civic process.”…

    Fox News senior political analyst (and former anchor) Brit Hume ripped that up, tweeting, “In 2000, Al Gore put the country through a 37-day recount process in which he urged the courts to permit recounts only in the places where he thought he’d find additional votes for him.”…

https://justthenews.com/politics-policy/elections/media-shuns-trumps-claims-election-interference-they-embraced-hillary

The Babylon Bee: Hillary Clinton: ‘Trump Must Stop Fueling Dangerous Conspiracy Theories About Our Elections Being Unfair.’

Liberal Constitutional Law Prof. Jonathan Turley: “This, however, could be the year of the faithless electorate rather than the faithless elector. We have lost faith in our constitutional system and each other. That is why we need neither concessions of defeat nor declarations of victory. We need transparency… This is supposed to be a transparent process. Because it’s not just who wins, it is getting people to *agree* that someone won.”

Senator Rand Paul @RandPaul: KY Dem Ed Pritchard was convicted of voter fraud in 1949 for fraudulently casting 254 votes. His biographer said: “the untidy truth was that widespread vote fraud was America’s dirty little secret.” Elections with millions of mail ballots makes fraud more likely not less.

Is there anything more risible than MSM claims there is no voter fraud in the USA?  It’s like averring that there is no underage drinking on US college campuses.  It’s only a matter of degree.

Ken Starr: “What happened in Pennsylvania over these recent weeks is a constitutional travesty.”

@JonathanTurley: Biden’s “healing” moment appears to have passed. There are still scores to be settled and spoils to be claimed. Biden’s call to “see each other again” appears to have been heard as an invitation for targeting rather than embracing those on the other side.  When asked about AOC’s call for a black list, Nomiki Konst helpfully noted that the first on the list would be people like the former Republicans in the Lincoln Project. She said that those people are the “perfect examples” of people to be cancelled. That did not take long.

https://jonathanturley.org/2020/11/09/georgia-prepares-for-second-march-for-the-sea-as-leading-democrats-promise-scorched-earth-campaign/

GOP Sen. @RandPaul: Your government sent 1.1 million dead people stimulus checks. Wonder how many of these folks also voted absentee?

Fox News Ratings Crashed on Saturday – coming in a distant third place to leader CNN and second place MSNBC. In the week before Tuesday’s election Fox News averaged more than double the viewership of CNN and MSNBC.  Fox viewers have been in revolt since election night when the cable network called states early for Joe Biden while holding off calling states for President Trump…

https://www.thegatewaypundit.com/2020/11/fox-news-ratings-crashed-saturday/

USA Today: CNN beat the TV competition in total viewers Saturday with 4.2 million (as well as leading for adults 25-54 and younger viewers 18-34), according to Nielsen. MSNBC was second with 3 million, Fox News Channel third with 1.73 million.

 

FOX NEWS Cuts Away From Kayleigh McEnany Briefing on Election Fraud — Neil Cavuto Says Network ‘Can’t Verify Her Claims’ So They Will Not Air

https://www.thegatewaypundit.com/2020/11/breaking-fox-news-cuts-away-kayleigh-mcenany-briefing-election-fraud-neil-cavuto-says-network-cant-verify-claims-will-not-air/

 

James Murdoch’s wife Kathryn tweets ‘we did it!… shares anti-Trump posts after Biden’s win – days after agreeing with CNN’s Tapper that Fox News should disavow Trump’s election fraud claim 

https://www.dailymail.co.uk/news/article-8926433/amp/James-Murdochs-wife-Kathryn-tweets-did-shares-anti-Trump-posts-Bidens-win.html

CNN’s Jake Tapper Tells Trump Staffers Concede or Get Blacklisted

At a certain point one has to think not only about what’s best for the nation (peaceful transfer of power) but how any future employers might see your character defined during adversity.”…

https://www.breitbart.com/the-media/2020/11/09/nolte-cnns-jake-tapper-tells-trump-staffers-concede-or-get-blacklisted/amp/

Well that is all for today

I will see you WEDNESDAY night.

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