NOV 12//GOLD UP $11.10 TO $1875.10//SILVER DOWN 2 CENTS TO $24.24//GOLD TONNAGE INCREASES BY ALMOST ONE TONNE TO 16.426 TONNES//SILVER OZ STANDING ADVANCES BY 25,000 OZ//CORONAVIRUS UPDATES//ANDRE MAGUIRE GOLD INTERVIEW WITH CHRIS MARCUS A MUST VIEW//VIDEOS ON THE ELECTION SCANDAL: GENERAL MCINERNEY..A GOOD REVIEW OF EVENTS DURING THESE PAST FEW DAYS//RUDY GIULIANI VIDEO THAT WHISTLEBLOWERS COMING FORTH ON SCORECARD, HAMMER AND DOMINION SOFTWARES//FEDERAL ELECTION COMMISSION DROPS A BOMBSHELL THAT THE ELECTION WAS ILLEGITIMATE//USA FISCAL DEFICT FOR THE FIRST MONTH OF 2021 A WHOPPER AT 284 BILLION DOLLARS//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1875.10 UP  $11.10   The quote is London spot price

Silver:$24.24  DOWN $0.02   London spot price ( cash market)

your data…

Closing access prices:  London spot

i)Gold : $1877.00  LONDON SPOT  4:30 pm

ii)SILVER:  $24.26//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  $1874.00   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $1.10/ BACKWARD   // GOOD FOR EFP ISSUANCE//GOOD FOR EUROPEANS TO BUY COMEX GOLD///

FEB GOLD:  1880.70 CLOSE 1:30 PM  SPREAD SPOT/FUTURE:  $5.60 CONTANGO//40 CENTS BELOW NORMAL CONTANGO

CLOSING SILVER FUTURE MONTH

SILVER DECEMBER  CLOSE:     $24.34  1:30  PM SPREAD SPOT/FUTURE DEC.       :   10  CENTS PER OZ  CONTANGO (   10 CENTS ABOVE NORMAL CONTANGO

SILVER MARCH CLOSE:  24.48/SPREAD SPOT/FUTURE:  A HUGE 24 CENTS

15 CENTS ABOVE NORMAL CONTANGO

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COMEX DATA

 
 
 

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

receiving today: 84/298

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,860.700000000 USD
INTENT DATE: 11/11/2020 DELIVERY DATE: 11/13/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
167 C MAREX 33
332 H STANDARD CHARTE 155
365 C ED&F MAN CAPITA 5
435 H SCOTIA CAPITAL 26
657 H MORGAN STANLEY 100
661 C JP MORGAN 51
661 H JP MORGAN 33
690 C ABN AMRO 193
____________________________________________________________________________________________

TOTAL: 298 298
MONTH TO DATE: 5,230

issued:0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

 
 

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 298 NOTICE(S) FOR 29,800 OZ  (0.9269 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  5230 NOTICES FOR 523,000 OZ  (16.267 tonnes) 

SILVER//NOV CONTRACT

 

5 NOTICE(S) FILED TODAY FOR 25,000  OZ/

total number of notices filed so far this month: 491 for 2,455,000  oz

BITCOIN MORNING QUOTE  $15,899   UP 228

BITCOIN AFTERNOON QUOTE.  :$16,131  UP 446 DOLLARS .

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GLD AND SLV INVENTORIES:

WITH GOLD UP 11.00  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 9.05 PAPER TONNES FROM THE GLD

INVENTORY RESTS AT:

 

GLD: 1,240.74 TONNES OF GOLD//

 

WITH SILVER DOWN  $0.02  TODAY: AND WITH NO SILVER AROUND:

NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT

SLV: 572.254  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 ROSE BY A STRONG SIZED 1282 CONTRACTS FROM 155,011 UP TO 156,292, AND CLOSER TO  OUR NEW RECORD OF 244,710, (FEB 25/2020. THE GAIN IN OI OCCURRED WITH OUR FALL  OF $0.08 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO CONSIDERABLE BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A SMALL EXCHANGE FOR PHYSICAL. WE  HAD ZERO LONG LIQUIDATION, AND A GOOD INCREASE IN  STANDING AT THE COMEX FOR NOV.  WE HAD AN VERY STRONG NET GAIN IN OUR TWO EXCHANGES OF 1915 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A SMALL  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  633, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  633, MARCH 0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  633 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.

3.835 MILLION OZ INITIAL STANDING IN NOV.

WEDNESDAY, 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 $.08) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS WE HAD A VERY STRONG NET GAIN IN OUR TWO EXCHANGES (1915 CONTRACTS). NO DOUBT THE STRONG GAIN IN OI ON THE TWO EXCHANGES WAS DUE TO i)BANKER/ALGO SHORT COVERING.  WE ALSO HAD  ii)  A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A GOOD GAIN  IN SILVER OZ STANDING  FOR NOV, iii) STRONG COMEX GAIN  AND  iv) ZERO  LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

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

7225 CONTRACTS (FOR 9 TRADING DAY(S) TOTAL 7225 CONTRACTS) OR 36.125 MILLION OZ: (AVERAGE PER DAY: 802 CONTRACTS OR 4.01 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF NOV: 36.125 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 5.16% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,565.41 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                    36.125 MILLION OZ (STARTING TO INCREASE AGAIN)

RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1282, DESPITE OUR  $0.08 FALL IN SILVER PRICING AT THE COMEX ///WEDNESDAY.THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 633 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE GAINED A STRONG SIZED 1915 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR  $0.08 FALL IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 633 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED INCREASE OF 1282 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.08 FALL IN PRICE OF SILVER/AND A CLOSING PRICE OF $24.26 // 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: 5 NOTICE(S) FOR 25,000 OZ OF SILVER.

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

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

 

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED  1,129 CONTRACTS TO 548,578 AND FURTHER FROM  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED GAIN IN COMEX OI OCCURRED DESPITE OUR STRONG LOSS IN PRICE  OF $13.10 /// COMEX GOLD TRADING// WEDNESDAY. WE  HAD STRONG BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AND ANOTHER HUMONGOUS GAIN IN GOLD OUNCES STANDING AT THE COMEX….THIS ALL HAPPENED WITH OUR LOSS IN PRICE OF $13.10. 

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

WE HAD A FAIR SIZED GAIN OF 3739 CONTRACTS  (11.62 TONNES) ON OUR TWO EXCHANGES..IF YOU ADD IN THE INCREASE IN GOLD TONNAGE STANDING (162) OUR NET GAIN IS  3901 CONTRACTS WHICH IS CONSIDERABLE..THE BIG QUESTION IS WHY ARE TRADERS SO ANXIOUS TO ROLL TO FEB NOW INSTEAD OF WAITING UNTIL THE END OF THE MONTH?

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A SMALL SIZED 2610 CONTRACTS:

CONTRACT .  DEC: 2610; FEB: 0  ALL OTHER MONTHS ZERO//TOTAL: 2610.  The NEW COMEX OI for the gold complex rests at 549,201. 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 FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3739 CONTRACTS: 1,752 CONTRACTS INCREASED AT THE COMEX AND 2610 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 3739 CONTRACTS OR 12.199 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2610) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI  (1752 OI): TOTAL GAIN IN THE TWO EXCHANGES:  3739 CONTRACTS. WE NO DOUBT HAD 1 ) SOME BANKER SHORT COVERING AND CONSIDERABLE ALGO SHORT COVERING ,2.)ANOTHER HUMONGOUS INCREASE IN OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT NOV. MONTH TO 16.426 TONNES3)  ZERO LONG LIQUIDATION ;4) SMALL COMEX OI GAIN AND 5) SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS OCCURRED WITH  OUR STRONG LOSS IN GOLD PRICE TRADING//WEDNESDAY//$13.10.

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 : 30,196 CONTRACTS OR 3,019600 oz OR 93.92 TONNES (9 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 9 TRADING DAY(S) IN  TONNES: 93.92  TONNES

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

THUS EFP TRANSFERS REPRESENTS 93.92/3550 x 100% TONNES =2.61% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,771.82 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:                        93.92 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, ROSE BY A STRONG SIZED 1282 CONTRACTS FROM 155,011 UP TO 156,293 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

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

EFP ISSUANCE 633 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 633 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 633 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 1282 CONTRACTS TO THE 633 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A VERY STRONG SIZED GAIN OF 1915 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 9.575 MILLION  OZ, OCCURRED WITH OUR $0.08 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)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 3.52 PTS OR .11%   //Hang Sang CLOSED DOWN 57.60 PTS OR .22%    /The Nikkei closed UP 171.28 POINTS OR 0.68%//Australia’s all ordinaires CLOSED DOWN 0.48%

/Chinese yuan (ONSHORE) closed UP 6.6235 /Oil UP TO 57.21 dollars per barrel for WTI and 64.13 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6235. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6227 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  ROSE BY BY A SMALL SIZED 1129 CONTRACTS TO 548,578 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 INCREASE OCCURRED DESPITE OUR STRONG FALL OF $13.10 IN GOLD PRICING WEDNESDAY’S COMEX TRADING/). WE ALSO HAD A SMALL EFP ISSUANCE (2670 CONTRACTS).   WE ALSO HAD  1)  CONSIDERABLE BANKER SHORT COVERING//CONSIDERABLE ALGO SHORT COVERING//,  2)  ZERO  LONG LIQUIDATION  AND 3)  ANOTHER MONSTER GAIN  IN GOLD STANDING AT THE  COMEX  ( NOW STANDING AT 16.426 TONNES)//NOV. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED AN GOOD SIZED GAIN ON OUR TWO EXCHANGES OF 3739 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 SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 2610 EFP CONTRACTS WERE ISSUED:     DEC 2610; FEB// ’21 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2610  CONTRACTS.

YOU WILL FIND THAT WHEN WE HAVE A GOOD PREMIUM IN THE FUTURES/SPOT, THEN THE NUMBER OF EXCHANGE FOR PHYSICALS DECLINE IN NUMBERS.  THE COST IS JUST TOO MUCH FOR THEM TO ISSUE.

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

 

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 3739 TOTAL CONTRACTS IN THAT 2610 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A FAIR SIZED 3739 COMEX CONTRACTS.. THE BIG NEWS IS THE STRONG LEVEL OF NOV 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((16.426 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 $13.10).  AND, THEY WERE   UNSUCCESSFUL IN FLEECING SOME LONGS. AS MENTIONED ABOVE THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED   11.62 TONNES,

NET GAIN ON THE TWO EXCHANGES :: 3739 CONTRACTS OR 373,900 OZ OR 11.62 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:  548,578 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 54.85 MILLION OZ/32,150 OZ PER TONNE =  1706 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1706/2200 OR 77.54% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX TODAY: 248,766 contracts// volume poor////

CONFIRMED COMEX VOL. FOR YESTERDAY:  291,970 contracts//  volume:  poor

/most of our traders have left for London

 

NOV 12 /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 nil oz

 

 

Deposits to the Customer Inventory, in oz 0
OZ
No of oz served (contracts) today
 
298 notice(s)
 
 29,800 OZ
(0.9269 TONNES)
 
 
 
 
No of oz to be served (notices)
51 contracts
(5100 oz)
0.1586 TONNES
 
Total monthly oz gold served (contracts) so far this month
5230 notices
 
523,000 OZ
 
16.267 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 

We had 0 deposit into the dealer

 
total deposit: nil oz

 

total dealer withdrawals: nil oz

 

we had 0 deposit into the customer account

 

total customer deposit: nil  oz

 

we had 0 gold withdrawals from the customer account:

total withdrawals:  nil oz

 

We had 0  kilobar transactions  +

ADJUSTMENTS: 0 // 

The front month of NOV registered a total of 349 contracts for a LOSS of 14 contracts.  We had 176 notices filed on Wednesday so we gained a whopping 162 contracts or 16,200 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 17,491 contracts down to 296,148 contracts.  We will be watching December closely from this day forth. January GAINED 229 contracts to stand at 3230 contracts. FEBRUARY gained a STRONG 15.150 contracts UP TO 163,099. (why the early rush to roll?)

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR NOVEMBER (16.426 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  298 notices filed today for  29,800 oz OR 0.9269 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 298  contract(s) of which33  notices were stopped (received) by j.P. Morgan dealer and  51 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 (5230) x 100 oz , to which we add the difference between the open interest for the front month of  NOV (349 CONTRACTS ) minus the number of notices served upon today (298 x 100 oz per contract) equals 528,100 OZ OR 16.426 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 (5230, x 100 oz +349 OI) for the front month minus the number of notices served upon today (298) x 100 oz which equals 528,100 oz standing OR 16.426 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 162 contracts or an additional 16,200 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. 16.426 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:  20,054,573.818 oz (6237.81 tonnes)
 
 

total registered, pledged  and eligible (customer) gold  37,400,990.092 oz 1,163.33 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1036.99 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 12/2020

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
177.500 oz
 
CNT
 
 
Deposits to the Dealer Inventory
nil oz
 
Manfra
 
 
 
 
Deposits to the Customer Inventory
nil oz
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
5
 
CONTRACT(S)
(25,000 OZ)
 
No of oz to be served (notices)
276 contracts
 1,380,000 oz)
Total monthly oz silver served (contracts)  491 contracts

 

2,455,000 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 0 deposits into the customer account (ELIGIBLE ACCOUNT)

i)into JPMorgan:  nil oz

ii) Into everybody else:  0

 

 

JPMorgan now has 190.72 million oz of  total silver inventory or 49.67% of all official comex silver. (190.72 million/383.903 million

total customer deposits today:  1,192,796.564   oz

we had 1 withdrawals:

i)Out of CNT: 1977.500 oz  
 
 
 
 
 

total withdrawals; 1977.500    oz

We had 0 adjustment

Total dealer(registered) silver: 134.855 million oz

total registered and eligible silver:  383.909 million oz

 

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November saw a GAIN OF 5 notices UP to 281 contracts. We had 0 notices filed on TUESDAY so we gained 5 contracts or 25, 000 additional silver oz will stand in this non active delivery month of November.

December saw a LOSS of 5472 contracts DOWN to 84,660 contracts. January saw a GAIN of 12 contracts UP to 168. MARCH  gained 5531 contracts up to 57,575.

 
 

The total number of notices filed today for the NOV 2020. contract month is represented by 5 contract(s) FOR 25,000 oz

 

To calculate the number of silver ounces that will stand for delivery in NOV we take the total number of notices filed for the month so far at 491 x 5,000 oz = 2,455,000 oz to which we add the difference between the open interest for the front month of OCT( 281) and the number of notices served upon today 5x (5000 oz) equals the number of ounces standing.

Thus the NOV standings for silver for the NOV/2019 contract month: 491 (notices served so far) x 5000 oz + OI for front month of NOV ( 281)- number of notices served upon today (5) x 5000 oz of silver standing for the NOV contract month .equals 3,835,000 oz. ..VERY STRONG FOR A NON ACTIVE  NOV MONTH.

WE GAINED 5 CONTRACTS OR AN ADDITIONAL 25,000 OZ WILL STAND FOR DELIVERY AT THE COMEX AND FORGO ANY FIAT BONUS AS THEY SEARCH FOR METAL ON THIS SIDE OF THE POND VS LONDON. SEEMS THAT WE HAVE A WHALE COMING AFTER COMEX SILVER 

TODAY’S ESTIMATED SILVER VOLUME :75,786 CONTRACTS // volume   strong////

FOR YESTERDAY  102,614  ,CONFIRMED VOLUME//  very strong//

YESTERDAY’S CONFIRMED VOLUME OF 102,614 CONTRACTS EQUATES to 0.580 billion  OZ 73.2% 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- 3.82% ((Nov 12/2020)

2. Sprott gold fund (PHYS): premium to NAV  RISES TO -0.88% to NAV:   (NOV12/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/3.82%

(courtesy Sprott/GATA

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

NAV 19.24 TRADING 18.54///NEGATIVE 3.39

END

And now the Gold inventory at the GLD

Nov 12/WITH GOLD UP $11.00 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A PAPERWITHDRAWAL OF 9.02 TONNES FROM THE GLD///INVENTORY RESTS AT 1240.74 TONNES

NOV 11/WITH GOLD DOWN $13.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1249.79 TONNES/

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

NOV12/ GLD INVENTORY 1240.74 tonnes

LAST;  944 TRADING DAYS:   +300.19 NET TONNES HAVE BEEN ADDED THE GLD

LAST 844 TRADING DAYS// +477.77  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory

NOV 12/WITH SILVER DOWN 2 CENTS TODAY: NO CHANGES IN SILVER INVENTORY FROM THE SLV//INVENTORY RESTS AT 572.254 MILLION OZ

NOV 11/WITH SILVER DOWN 8 CENTS TODAY: A HUGE 3.627 MILLION OZ WITHDRAWAL FROM THE SLV/ INVENTORY RESTS AT 572.254 MILLION OZ

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 12.2020:

SLV INVENTORY RESTS TONIGHT AT

572.254 MILLION OZ

 
 

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

Prepare For ‘No-Deal Brexit’ – Own Physical Gold To Protect Your Wealth

The Brexit deadline of December 31st, the date beyond which the transition or implementation period cannot be extended, now looms large and the dreaded “No-Deal” Brexit outcome looks increasingly possible by the day.

There is plenty of brinkmanship, rhetoric and passionately held views on the Brexit issue and recent days have seen this again. It is and will continue to be a highly partisan and divisive issue.

It is important to tune out the political noise and realise that whether you are pro-Brexit or anti-Brexit, it will impact most British people’s finances and wealth in a negative way, particularly those who are complacent and unprepared.

Gold’s average return in GBP of 13.7% per annum since 2005

The initial response to the COVID-19 coronavirus and the now second UK lockdown is set to badly impact the UK economy and indeed the global economy.  An even greater toll is being placed on already badly impacted and struggling consumers and companies.

The timing of Brexit could not be worse given the state of the world macroeconomically, geopolitically and monetarily. An already vulnerable global economy is in turmoil due to the COVID-19 virus and the economic lockdowns of most nations.

Throw the Brexit financial and very significant economic uncertainty into the mix and you have a very lethal cocktail indeed.

The Likelihood of a ‘No Deal,’ ‘Hard Brexit’ Has Increased

Even at this “eleventh hour” as the clock approaches midnight, the UK and EU continue to be at loggerheads over a post Brexit trade deal to replace a transitional agreement that expires at the end of the year on December 31st. Negotiators for both sides continue to warn that there are very wide divergences between the UK and the EU positions in the ongoing negotiations.

There are ongoing fresh bids to break the current Brexit deadlock at the highest level by the EU’s European Commission’s Head of Task Force for Relations with the UK, Michael Barnier and the UK’s Chief Negotiator of Task Force Europe, Lord David Frost. UK Prime Minister, Boris Johnson says a deal is there to be agreed between the UK and the EU but at the same time Johnson and his team have warned the EU there are only days left for a deal to be reached.

This has sparked renewed concern in the EU, whose senior negotiators say they need a longer period to finalise details. Michael Barnier has warned that he sees deepening divergences with the UK.  Barnier signaled all was not well in a tweet on November 4th:

“Despite EU efforts to find solutions, very serious divergences remain in Level Playing Field, Governance & Fisheries. These are essential conditions for any economic partnership. [The EU] is prepared for all scenarios.”

Sir David Frost replied on Twitter very soon thereafter:

“We’ve just finished two weeks of intensive talks with the EU. Progress made, but I agree with Michael Barnier that wide divergences remain on some core issues. We continue to work to find solutions that fully respect UK sovereignty.”

Boris Johnson’s defeat in the House of Lords over his plans to breach international law on Brexit further complicate matters and may weaken his team’s position. The bill is set to return to the House of Commons in December, when MPs are likely to reinsert the offending clauses.

The plans would have allowed the UK government to ignore the Northern Ireland Protocol, handing UK ministers sole power to determine customs regulations on a unilateral basis and to determine when U.K. state aid rules might undercut EU companies, rather than having this decided by joint EU and UK committees.

The election of Joe Biden as American President is another complicating factor as Biden is known to be pro-European Union and in favour of the Good Friday Agreement and the Irish government’s position on Brexit due to his Irish ancestry. Johnson and his negotiators’ brinkmanship on the Irish border issue in the Brexit negotiations will likely not sit well with the president-elect.

Hopefully, the ongoing negotiations and somewhat trenchant positions being adopted are the typical brinkmanship of a very tough negotiation but it is possible that the UK and EU negotiators fail to find compromise solutions on the red line issues.

Hence the importance of taking steps to protect you, your families and your business’ finances.

How a ‘No-Deal’ Brexit Would Likely Negatively Impact the UK

A UK government 5 page “worst case planning” document (Operation Yellowhammer – the government’s no-deal contingency plan)  outlines “reasonable worst case assumptions” in the event of a no-deal Brexit and warns of a lack of supply of certain consumer goods and food items, increasing inflation in the form of rising food prices and rising energy and fuel prices, disruption to medicine supplies and public disorder.

Besides negative impacts on consumers and citizens, there are also likely to be negative impacts on entire large economic sectors which employ thousands of people and generate significant tax revenue in the UK.

There are many employment creating industries that are exposed to a no-deal Brexit and just one of many examples of sectors very exposed to Brexit is the UK automotive industry. An illustration of how vulnerable is the fact that UK car manufacturers have spent more than £730 million on preparations for Brexit according to the industry’s trade body.

In excess of £235 million has been spent in just 2020 alone, the Society of Motor Manufacturers & Traders (SMMT) said November 10th. It published figures as it issued what it called a ‘last-chance plea’ for a zero-tariff, zero-quota trade deal between the UK and the EU.

The SMMT said their sector is doing ‘everything in its control’ to prepare for the end of the Brexit transition period on December 31. However, it warned that efforts are being greatly hampered by a lack of clarity on future trading arrangements between the UK and the EU economic bloc.

A no-deal scenario or failure to achieve a ‘workable deal’ for the automotive industry would result in the loss of thousands of jobs and see a £47 billion hit over the next five years, they warned.

The lack of clarity is badly impacting most sectors and most companies in the UK – from small and medium enterprises to giant corporations, not to mention that all important ingredient of economic confidence.

Global Uncertainty with Very Significant Macro, Monetary, Geopolitical and Systemic Risks to Support the Price of Gold in Dollars and Pounds

The global economic, geopolitical and monetary risks that confront America and indeed the world today are as great as any seen in living memory. The all-important wider global context means that most gold analysts are positive on gold’s outlook in the medium and the long term with calls for gold to rise to over $3,000 per ounce.

It also informs our view that gold will continue its bull market for some time as currencies continue to depreciate as they have done throughout history. All currencies, including British pounds, have lost between 97% to 100% in the last 120 years (see chart below).

 

All major currencies lose value against the gold constant (100%) since 1900 (Source: World Gold Council)

British gold buyers resident in the UK ordinarily buy gold coins or gold bars in sterling and should consider their allocation to gold in terms of their exposure to sterling due to their house, property investments, savings, pensions and business, many of which are exposed to sterling.

The price of gold in GBP terms is determined by two factors: the price of gold in USD and the GBP/USD exchange rate which inform the gold price in British pounds. Currencies including the USD and GBP are akin to the shares of a country. If the country does well economically then the share or currency tends to appreciate and if the country does poor economically then the currency tends to depreciate.

It is nigh impossible to predict the outlook for the GBP/USD exchange rate but we can say with some confidence that it is very likely that both currencies will weaken against gold. We have looked at the poor fundamentals of the U.S. fiscal position for many years and below we delve deeper into the poor fundamentals of the UK economy.

The bottom line is that all currencies are likely to be devalued versus gold in competitive currency devaluations or indeed in a central bank orchestrated “currency reset” that will likely coincide with an economic and political “great reset” as being pushed for by the World Economic Forum, mega corporations and the billionaire elites of Davos.

The current risks posed to both the UK and the U.S. economies and indeed the global economy mean that the gold market is  set-up for a perfect storm whereby the price of gold in dollar terms increases, while simultaneously sterling weakens sending gold in sterling terms much higher.

Why Sterling Looks Set to Weaken Further Against Gold

Brexit will impact the UK and EU economies badly and a ‘Hard Brexit’ would be even more damaging. The UK looks very vulnerable economically given the poor and deteriorating fiscal and economic position.

The UK national debt or total government debt has been surging higher for many years now but has surged even more during the COVID-19 outbreak and lockdowns. The ostensible or nominal UK national debt has surged another 33% in recent months – from £1.8 trillion at the start of the year to £2.42 trillion today.

The reality is even worse than this as all public sector liabilities including state and public sector pensions are not included when accounting for the national debt number. The real national debt including massive pension liabilities is closer to £5 trillion (as we explained in this video) or in clearer digit form £5,000,000,000,000 (or 5 with twelve zeros as there are twelve zeros in a trillion).

This works out at over £75,000 per person and  per every single man, woman and child that constitute the UK population of 66.5 million people. There are 25 million households in the UK and this £5,000,000,000,000 constitutes £200,000 per household and this is on top of massive private debt in terms of all other forms of debt including credit card loans, student loans, car loans and mortgages to name just a few of the many debt burdens.

While all the focus is on Brexit, the UK faces a debt and currency crisis. It has over $8.5 trillion in external debt and total debt including government, private, business & bank debt as a percentage of GDP is over 500%. The increasingly disunited kingdom is the 2nd largest debtor in the world ever – coming only second to the world’s largest debtor ever – the U.S.

Thus, the pound is almost certain to weaken even further versus gold in the coming months and years and the 13.7% average return seen in the last 15 years (see table above) is almost certain to be equaled or surpassed in the next 10 to 15 years. Indeed, the very strong performance of gold seen in recent years is likely to be seen in the coming years.

Gold was trading at below £200 per ounce when Gordon Brown imprudently sold the UK gold reserves at the very bottom (Brown’s bottom!) of the market in 1999. Today gold trades at £1,400 per ounce. So, the pound has fallen some £1,200 pounds against gold or 85% in 20 years.

The Bank of England’s lack of gold reserves today  when compared to the U.S. Federal Reserve’s putative 8,100 metric tonnes and the Eurozone’s combined nearly 10,000 metric tonnes (although the exact number is great disputed due to the reserves not being officially audited for many years), makes sterling even more vulnerable than the dollar and the euro. Even China and Russia have being greatly increasing their gold reserves for many years and this will support the Chinese Yuan and Russian Ruble.

 

Gold Price Performance GBP (November 2020)

Sterling and by extension and for the same reasons, UK government bonds or “gilts” also look very vulnerable as do certain still “elevated” property markets in the UK. This includes still frothy and unaffordable London which the Johnson government is desperately trying to keep inflated with government largesse including more tax breaks and inducements such as making banks offer reckless 95% mortgages.

Markets are normally quite good at pricing in significant economic risks. However, this does not appear to be the case today with UK gilts and many property markets remaining at or near record highs. UK gilts are near record highs in terms of price and record lows in terms of yields with the 10 year yielding just 0.3% despite significant fiscal, macro and monetary risks.

UK property markets and especially the London property market remain at elevated levels. Although both are obviously being supported by the massive quantitative easing (QE) which Mark Carney’s Bank of England is recklessly engaged in.

The Bank of England has boosted its quantitative easing (QE) “stimulus” package by another £150 billion, as central bankers use the coronavirus and attendant lockdowns to justify even greater currency creation in order to buy vulnerable government bonds and other assets.

The Bank warned that the surge in COVID-19 cases and the second lockdown means the UK economy will shrink in the current quarter. That means Britain would suffer a double-dip downturn this year.

QE was always positioned as a short-term emergency measure. We warned when it launched in November 2008 that there was a real risk that they would become a near permanent monetary injection in order to support fragile indebted banks, the massively over extended government debt markets and suppress interest rates to protect a hugely over indebted UK economy. And so it has come to pass.

There are no free markets anymore as markets are completely dependent on and hopelessly addicted to central bank monetary injections of trillions and trillions of pounds, euros, dollars, yen, yuan and other fiat currencies. Were they to withdraw them, the giant debt based Ponzi economy they have created since 1971, when Nixon went off the Gold Standard, would collapse.

“QE to infinity” as we and others dubbed it does not appear reckless now as much of the media completely fails to analyse the very real monetary risks and continues to cheerlead our central banks “saviours” and currency debasement on a scale never before seen in human history.

However in time, it will be realised that our monetary overlords have been and are engaged in a  reckless QE and ‘currency reset’ experiment. Ultimately it will lead to massive currency devaluations and potentially the collapse of many currencies as with the German Mark in Weimar Germany or the Argentinian Peso in recent years. Prior to that we may see a coordinated global devaluation and a “currency reset” which devalues all currencies versus gold and pegs new electronic crypto fiat currencies to gold at a fixed price – say for example £10,000, €10,000 and $10,000.

Conclusion – Fail to Prepare Financially, Prepare to Fail Financially

It might seem odd to quote an Irish man who lived from 1856 to 1950 to conclude an article about Brexit and its likely impact on the financial wellbeing of British people but it seems quite appropriate.

Whether you are a Remainer or a Leaver, whether you voted to leave or to stay in the EU, or neither, the words of writer, playwright and political activist, George Bernard Shaw, are as apt today as they were when he said them:

“You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.”

Today, the stability, honesty and intelligence of the UK, EU and governments around the world is being questioned. Given this and the massive debt bubble they and their central bank colleagues have created, it has never been more important for individuals to empower themselves. The key financial way to do this is to in effect become their own central back by owning gold as a “reserve of safety,” thereby becoming financially sovereign and independent.

Brexit, the politicians and politics of today and the political outcomes of tomorrow are beyond our control as are national and global geopolitical and economic outcomes. So it is prudent to focus our energies on what we can do and what we can control – our investments and savings and our financial independence, freedom and prosperity.

Each of us as individuals, with our families and in our companies can control outcomes and ensure they are prosperous rather than poor. There are steps we can take to ensure that no matter what transpires in the very uncertain stormy world of today, we are positioned to be able to weather the storm.

A vital part of this preparation involves owning physical gold in the safest ways – either securely in your possession (if you feel very secure in your home) or in the securest specialist gold vaults in safe jurisdictions like Zurich as provided by GoldCore.

Diversifying out of depreciating fiat currencies like the pound, euro and dollar, and into physical gold has never been more important. Investors and savers will weather the coming storms by owning safe haven physical gold. They will become Sovereign individuals by owning gold coins (Gold Sovereigns and Britannias are CGT free) and gold bars in the most cost effective and safest ways.

Ignore the turmoil and noise of Brexit, give yourself peace of mind by voting for gold !

NEWS and COMMENTARY

Bidenomics: More stimulus, tougher regulation, and gridlock

Gold gains more than 1% as focus returns to loose monetary policy

Dollar dips on vaccine doubts

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

10-Nov-20 1874.90 1878.70 1416.49 1417.48 1589.54 1590.13
09-Nov-20 1957.45 1867.30 1489.23 1417.47 1648.76 1573.95
06-Nov-20 1947.95 1940.80 1483.17 1480.05 1642.71 1636.29
05-Nov-20 1916.80 1938.45 1468.84 1480.78 1624.68 1638.38
04-Nov-20 1888.55 1900.15 1455.69 1462.17 1616.41 1621.97
03-Nov-20 1899.85 1908.30 1462.31 1464.05 1624.37 1628.73
02-Nov-20 1886.75 1889.90 1460.34 1463.16 1620.72 1624.50
30-Oct-20 1875.80 1881.85 1448.12 1453.92 1607.19 1611.24
29-Oct-20 1876.85 1870.30 1444.24 1447.05 1600.58 1601.16
28-Oct-20 1896.85 1869.95 1461.71 1439.30 1614.22 1593.38

Mark O’Byrne

ii) Important gold commentaries courtesy of GATA/Chris Powell

This came courtesy of Doug C.

This is wonderful news as Trump has the votes to confirm Shelton//a gold bug

(courtesy Reuters)

Senate could vote on Trump’s Fed nominees next week: Bloomberg News

FILE PHOTO: A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, DC, U.S. on March 16, 2016. REUTERS/Kevin Lamarque/File Photo
 

SAN FRANCISCO (Reuters) – The Republican leadership at the U.S. Senate has discussed holding a vote on U.S. President Donald Trump’s nominees to the Federal Reserve as early as next week, Bloomberg News reported Thursday, citing Republican Senator John Cornyn.

Republican Senator Lisa Murkowski will support Trump’s controversial pick for one of the two open posts, former economic advisor Judy Shelton, Bloomberg News reporter Saleha Mohsin tweeted. Republicans have a 53-47 majority in the current Senate, and two have said they will oppose Shelton. Control of the body as of next year depends on the outcome of a Jan. 5 runoff election in Georgia.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

end

iii) Other physical stories:

A MUST VIEW…..

Andrew Maguire

6:56 AM (1 hour ago)    
to me, Chris

Hi Guys,

Lots of industry news , including a competitor for JPM & warnings from UBS America to stop taking delivery of Comex futures or risk being blacklisted!

I make sure to credit GATA and Robert Lambourne for credible BIS information.

https://www.youtube.com/watch?v=8kQDnjlvDtk&feature=youtu.be

Best

Andrew

Attachments area

Preview YouTube video Andrew Maguire: 1 Bank Now Buying Any Available Silver

Andrew Maguire: 1 Bank Now Buying Any Available Silver

END

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

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

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

 

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

71671201

Spencer Platt | Getty Images

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

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

 

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

 
 

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

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

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

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

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

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

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

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

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

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

end

March 4.2019

Parker City News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kovel declined to comment.

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

-END-

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

 

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

… 

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

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

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

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

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

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

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

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

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

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

* * *

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

i) Chinese yuan vs USA dollar/CLOSED UP AT 6.6235 /

//OFFSHORE YUAN:  6.6227   /shanghai bourse CLOSED DOWN 3.52 PTS OR .11%

HANG SANG CLOSED DOWN 57.60 PTS OR .22%

2. Nikkei closed UP 171.28 POINTS OR 0.68%

3. Europe stocks OPENED ALL RED/

USA dollar index DOWN TO 92.95/Euro RISES TO 1.1797

3b Japan 10 year bond yield: RISES TO. +.03/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 105.34/ 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:: 41.27 and Brent: 43.53

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

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

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

3h Oil 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 FALLS TO -.52%/Italian 10 yr bond yield DOWN to 0.70% /SPAIN 10 YR BOND YIELD DOWN TO 0.14%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.32: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.80

3k Gold at $1869.85 silver at: 24.14   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 39/100 in roubles/dollar) 77.46

3m oil into the 41 dollar handle for WTI and 43 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 105.34 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 .9154 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0802 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 0.52%

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 1.713%

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

6.  TURKISH LIRA:  UP  TO 7.71..

Futures Rollercoaster As Virus Resurgence Spooks Traders

 

In a rollercoaster overnight session, futures dropped as much as 1% in early trading, before paring all losses only to slide once again while Nasdaq 100 contracts swung between modest losses and gains. At last check, the Emini was down 0.4% to 3,555 as coronavirus infections surged and investors weighed the timeline of the roll-out of an effective vaccine, while technology stocks headed higher for the second straight day.

“Defensive”, work-from-home stocks such as Amazon.com, Apple and Microsoft rose about 0.5% each in premarket trading, while futures for the Nasdaq 100 were up 0.4%. Meanwhile, American Airlines, United and Royal Caribbean Cruises fell between 1.0% and 2.3%.

Fears that an intensifying pandemic will curb the economic rebound threaten this month’s almost 10% surge in global equities, while the value-to-growth rotation reversed after new coronavirus cases in the United States surged above 100,000 for an eighth consecutive day, and global deaths jumping by more than 12,000 with the situation expected to worsen as winter sets in. New York became the latest state to re-introduce social distancing restrictions on Wednesday: New York City ordered bars and restaurants with liquor licenses to close at 10 p.m. as officials. New infections may be steadying or easing in some of Europe’s virus hot spots.

“In the near term, the resurgence of the virus is beginning to make new worries,” Torsten Slok, chief economist at Apollo said on Bloomberg TV. “It looks like this will end up being a W-shaped recovery.”

The same dour mood echoed around the world, with global shares on course on Thursday to end their longest winning streak in over a year, one that has lifted them more than 10%, as the post-U.S. election and coronavirus vaccine bull run paused.

European stocks headed toward their first drop of the week on disappointing earnings reports tied to the pandemic. Tech shares outperformed, as some investors perceive them to be defensive. Europe’s Stoxx 600 index traded down 0.7% as investors returned to safe-haven government bonds. Siemens AG fell after issuing a cautious 2021 outlook and proposed cutting its dividend.

“What we don’t really agree with is that you need to rotate out of tech into value stocks,” said Willem Sels, chief market strategist  at HSBC Private Bank, referring to stocks that do well in normal circumstances when economies are open. “We don’t think either that a recovery (helped by a vaccine) would lead to a sustained sell-off in U.S. Treasuries. The Fed has signalled it is on hold,” he added.

Earlier in the session, Asian stocks were little changed with communications rising and finance retreating. The MSCI Asia Pacific Index added 0.1% while Japan’s Topix index closed 0.2% lower, with Toyota and Tokio Marine contributing the most to the move. The Shanghai Composite Index retreated 0.1%, driven by China Life and ICBC.

“The vaccine-related rotation has quickly faded as investors have realized that the pandemic won’t disappear as fast as it arrived,” said Hussein Sayed, chief market strategist at FXTM. “While the vaccine remains the best news received since the virus spread, life won’t return to normal in a matter of days or weeks.”

In FX, the Bloomberg Dollar Spot Index swung from a gain to a loss as equities pared declines, and the dollar traded mixed versus its Group-of-10 peers. Haven currencies still led G-10 as rising global coronavirus cases spurred demand for safety, though the yen gave up most of its earlier advance. Turkey’s lira took a breather after President Tayyip Erdogan’s promise to overhaul unconventional monetary policy and the replacement of his son-in-law as finance minister caused it to rise 10%; the euro was near $1.18, in the middle of the $1.16-$1.20 range it’s been in since late July. Sterling was down 0.5% amid more Brexit uncertainty and as data showed the UK economy losing speed again. The pound fell for a second day, as market focus remains on developments in U.K.-EU trade negotiations; Sweden’s krona hovered near an almost 2-year high versus the euro after inflation came in largely in line with estimates.

Australia and New Zealand dollars gave up an Asia-session gain as U.S. stock futures slid. AUD/NZD was little changed after it earlier touched the its lowest level since April amid growing expectations that the RBNZ won’t impose a negative cash rate following comments by Assistant Governor Christian Hawkesby. The kiwi got an added boost after Reserve Bank of New Zealand Assistant Governor Christian Hawkesby said the economy required less stimulus than it did in August.

“The weakness in broad USD (dollar) and reflationary momentum in equities, which we saw on the back of the U.S. election and improvements in the vaccine situation, seem to be fading across FX and equities,” said Christin Tuxen, Head of FX Research at Danske Bank.

In rates, Treasury yields dropped by more than 3bps to 0.9374% at long end after some aggressive buying during Asia session following Tuesday’s Veteran’s Day holiday, although they were off session highs. Yields, little changed at front end and 2bp-3bp richer further out, are flattening curve spreads that remain near YTD highs reached in anticipation of a reflationary supply surge: 2s10s by more than 3bp, 5s30s by ~1bp; 10-year yields around 0.94% outperform bunds and gilts by 1bp-2bp. Aside from October CPI, supply is the main focus ahead of $27b 30-year bond auction and an expected rebound in IG credit issuance following Wednesday’s U.S. holiday.

Oil was flat after the International Energy Agency on Thursday joined OPEC in cutting forecasts for global oil demand amid new lockdown measures and cautioned that the vaccine breakthrough won’t quickly revive markets.  WTI and Brent front-month futures traded flat intraday with WTI Dec meandering around USD 41.50/bbl and Brent Jan sub-44/oz as the complex fails to take its cue from the overall indecisive risk sentiment across markets, and as participants continue to balance supply and demand dynamics ahead of blockbuster OPEC+ meeting.

Looking at the day ahead now, attention will fall on central bankers at the ECB’s forum, where ECB President Lagarde, Fed Chair Powell and Bank of England Governor Bailey will all be appearing on a policy panel. We’ll also hear from ECB Vice President de Guindos and the Fed’s Evans, while the ECB will publish their Economic Bulletin. In terms of data releases, we’ll get the October CPI data, weekly initial jobless claims and the October monthly budget statement. Finally, earnings releases include Walt Disney and Cisco Systems.

Market Snapshot

  • S&P 500 futures down 0.2% to 3,562.25
  • STOXX Europe 600 down 0.5% to 386.66
  • MXAP up 0.08% to 184.62
  • MXAPJ down 0.01% to 609.02
  • Nikkei up 0.7% to 25,520.88
  • Topix down 0.2% to 1,726.23
  • Hang Seng Index down 0.2% to 26,169.38
  • Shanghai Composite down 0.1% to 3,338.68
  • Sensex down 0.6% to 43,316.81
  • Australia S&P/ASX 200 down 0.5% to 6,418.22
  • Kospi down 0.4% to 2,475.62
  • Brent futures down 0.4% to $43.62/bbl
  • Gold spot up 0.3% to $1,870.77
  • U.S. Dollar Index down 0.2% to 92.88
  • German 10Y yield unchanged at -0.507%
  • Euro up 0.3% to $1.1809
  • Italian 10Y yield fell 2.3 bps to 0.627%
  • Spanish 10Y yield fell 0.2 bps to 0.155%
  • Top Overnight News from Bloomberg

Top Overnight News from Bloomberg

  • New cases may be steadying or easing in some of Europe’s virus hot spots, offering glimmers of hope to some of the worst-hit countries. Meanwhile, the global death toll jumped by more than 12,000, a daily record, according to data from Johns Hopkins University
  • President-elect Joe Biden has stocked his transition team with policy experts, academics and former Obama administration officials, a contrast with the industry-friendly figures President Donald Trump sent into the government upon winning office
  • Brexit talks are going down to the wire, and the European Union’s chief negotiator Michel Barnier is threatening British access to the continent’s single energy market as a way of extracting concessions on fishing rights
  • Talks between OPEC and its allies are zeroing in on a delay to next year’s planned oil-output increase of three to six months, according to several delegates; the International Energy Agency cut forecasts for global oil demand amid new lockdown measures and cautioned that the vaccine breakthrough won’t quickly revive markets. Fuel prices won’t experience any “significant” boost from vaccines until the second half of next year, the agency said and reduced oil-demand projections for this quarter sharply, by 1.2 million barrels a day
  • Russia is locking in lower borrowing costs in the wake of Joe Biden’s U.S. election win, kicking off its first dual-tranche sale of euro-denominated bonds
  • The U.K. economy expanded 15.5%, the most on record, in the third quarter, a rebound that still leaves Britain’s recovery trailing behind the world’s major industrialized nations
  • Sweden’s economy has been harder hit by the Covid crisis than is reflected in the latest official forecasts, according to the governor of the Riksbank, Stefan Ingves

A quick look at global markets courtesy of NewsSquawk:

Asian equity markets traded mostly lower as sentiment gradually deteriorated from the mixed performance stateside where conditions were quieter owing to the Veterans Day quasi-holiday, although a pause in the recent growth-to-value rotation aided a tech rebound. Nonetheless, ASX 200 (-0.5%) was dragged lower by underperformance in cyclicals but with losses in the index stemmed by strength in tech and telecoms as Telstra shares were underpinned by restructuring plans and retailers kept afloat after Wesfarmers reported sales growth. Nikkei 225 (+0.7%) extended on its best levels in nearly 3 decades although the gains were briefly wiped out as risk appetite waned and amid mixed data including Machinery Orders which suffered its longest period of contraction since 2009. Elsewhere, Hang Seng (-0.2%) and Shanghai Comp. (-0.1%) were subdued after mixed lending and financing data, as well as the ongoing tensions, with the US warning of further sanctions against China for its freedom violations in Hong Kong. Finally, 10yr JGBs gained as they tracked the rebound in T-notes and as risk appetite gradually deteriorated but with upside capped by resistance at 152.00 and after mixed results at today’s 5yr auction.

Top Asian News

  • Hedge Fund Alleges Vedanta Unit ‘Siphoned Off’ Funds to Parent
  • RBNZ Says Negative Rate Less Likely if Banks Use Cheap Loans
  • China Says Australia’s ‘Words and Deeds’ to Blame for Disputes
  • Nissan Operating Losses Shrink as Restructuring Takes Hold

Major European bourses have recouped earlier lost ground and now trade mixed (Euro Stoxx 50 -0.6%) following a downbeat cash open and after a similar APAC handover, as the growth to value rotation continues to lose steam ahead of Tier 1 US data and the second central bank Sintra sitting, whilst participants continue to question the timeframe of a rollout of an effective vaccine (contingent on regulatory approval), as some doubts remain over manufacturing, storage, and swift distribution. The European sectoral breakdown reflects this as Oil & Gas, Banks and Auto remain the laggards whilst Tech and Healthcare reside at the top of the pile. The rotational pause is also indicated in the US equity futures, with NQ (+0.5%) somewhat front-running the ES (-0.1%) and RTY (-0.3%). Back to Europe, the flow into Healthcare has cushioned losses in the SMI (+0.1%) which outperforms regional peers on the back of Pharma giants Roche (+0.6%) and Novartis (+0.5%) keeps the index somewhat supported. Elsewhere, Travel & Leisure treads water around the unchanged mark ahead of an anticipated Moderna vaccine efficacy update which is expected in the coming days. Individual European movers this morning largely consist of earnings, with Deutsche Telekom (+0.5%) benefitting from better-than-expected metrics whilst noting that T-Mobile’s (+0.7% pre-market) integration of Sprint. Elsewhere, the broader tech sector also saw commentary from Taiwanese chip-maker Foxconn, who expects strong demand in consumer electronics next year, whilst adding Apple’s (+0.4%) iPhone 12 will remain in hot demand.

Top European News

  • Johnson’s Senior Aide Quits Amid Tensions in U.K. Government
  • Deutsche Telekom Raises Outlook on Growth After Sprint Deal
  • Credit Suisse’s Pozsar Pushes Back on Year-End Funding Worries
  • AstraZeneca Cancer Drug Fails to Help Patients With Covid-19

In FX, the Buck is softer against most major currency rivals, but retaining an underlying bid due to more pronounced outperformance vs high beta, cyclical and activity counterparts compared to declines relative to safer or pseudo safe-havens. Indeed, the index is straddling 93.000 within tighter confines and remains close enough to stage another attempt at breaching decent chart resistance at 93.210 after matching the Fib retracement level exactly on Wednesday. Turning to fundamentals, US CPI and claims data may provide some impetus beyond fading risk sentiment and before Fed speakers including Chair Powell.

  • CHF/EUR/JPY – As noted above, renewed risk aversion, albeit not particularly pronounced, has underpinned the Franc, Euro and Yen to varying degrees as the former pivots 0.9150 vs the Dollar, single currency reclaims 1.1800+ status and latter rebounds from sub-105.50 lows irrespective of considerably weaker than forecast Eurozone ip and Japanese machinery orders. However, decent option expiry interest could cap Eur/Usd and keep Usd/Jpy propped given 1.3 bn rolling off between 1.1795-1.1805 and 1.4 bn residing at 105.40-50 respectively.
  • GBP – Sterling has slipped to the bottom of the G10 ranks, with Cable back below 1.3200 and Eur/Gbp around 100 pips off yesterday’s lows amidst the ongoing Brexit trade deal impasse and UK data in the form of GDP and IP falling a little short of consensus. For the record, not much in the way of reaction to latest comments from BoE Governor Bailey sticking to a reserved view on negative rates and also downplaying the prospect of the MPC using yield curve control ala the BoJ and RBA as a policy tool.
  • AUD/CAD/NZD – All consolidating off recent peaks relative to their US peer, as the Aussie pulls back from 0.7300, Kiwi 0.6900 and Loonie loses a bit more traction from oil having tested offers into 1.2900 on Monday amidst the height of anti-coronavirus optimism. Usd/Cad has pared some gains from 1.3106 towards 1.3050 awaiting remarks from BoC’s Wilkins before Friday’s Q3 Senior Loan Officer Survey, while Nzd/Usd is hovering around 0.6880 in advance of October’s manufacturing PMI and FPI that may provide independent impetus in wake of the RBNZ.
  • SCANDI/EM – The Nok has also retreated alongside crude prices, but the Sek seems unfazed by mixed Swedish inflation prints or relatively downbeat/dovish rhetoric from Riksbank’s Bremen. Meanwhile, the Try has reclaimed another chink of its heavy and unprecedented losses perhaps in delayed response to Turkey’s Defence Minister declaring that he is ready to allay US concerns over Russia’s S-400 missile system and F-35s. Elsewhere, the Zar has absorbed conflicting SA data and Mxn is eyeing Banxico’s rate verdict for direction beyond gyrations in oil.

In commodities, WTI and Brent front-month futures trade flat intraday with WTI Dec meandering around USD 41.50/bbl and Brent Jan sub-44/oz as the complex fails to take its cue from the overall indecisive risk sentiment across markets, and as participants continue to balance supply and demand dynamics ahead of blockbuster OPEC+ meeting. On that note, sources overnight suggested that OPEC+ talks are reportedly to focus on delaying oil output hikes by 3-6 months. However, one delegate said the idea has not garnered widespread support so far among other producers. It’s worth bearing in mind that unanimous consent for a revised accord. Elsewhere the IEA Monthly Oil Market report downgraded its  2020 global oil demand growth forecast by 400k BPD whilst noting it is vaccine unlikely to significantly boost demand until well into 2021. No immediate move was seen on the release, but some fleeting downside was experience as Japan, the number 4 top oil importer in 2019, announced record high new COVID-19 cases whilst the Chinese Vice Foreign Minister has advised Chinese nationals not to travel overseas due to the pandemic – thus jet fuel demand prospects. Elsewhere, spot gold and silver remain somewhat contained ahead of US CPI and Sintra Day 2, whilst LME copper gleans impetus from the softer Buck.

US Event Calendar

  • 8:30am: US CPI MoM, est. 0.1%, prior 0.2%; CPI YoY, est. 1.3%, prior 1.4%
  • 8:30am: US CPI Ex Food and Energy MoM, est. 0.2%, prior 0.2%; CPI Ex Food and Energy YoY, est. 1.7%, prior 1.7%
  • 8:30am: Real Avg Hourly Earning YoY, prior 3.3%; Real Avg Weekly Earnings YoY, prior 4.1%
  • 8:30am: Initial Jobless Claims, est. 731,000, prior 751,000; Continuing Claims, est. 6.83m, prior 7.29m
  • 9:45am: Bloomberg Consumer Comfort, prior 47.5
  • 2pm: Monthly Budget Statement, est. $275.0b deficit, prior $124.6b deficit

DB’s Jim Reid concludes the overnight wrap

48 hours after going into self-isolation and getting a test done, the twins are completely over all covid symptoms, unless trying to gouge each other’s eyes out is one. So my wife is stuck at home with them, my daughter and bored dog until we get what we hope will be a negative test result. I took an hour off work yesterday to make them lunch while my wife could get a break. The fury I had to endure when I peeled off the top of a soft boiled egg rather than let one of my three year olds do it scared me a bit. Let’s hope we’re back to relative normality tomorrow. If not I may order a takeaway for lunch and winch it through my upstairs study window to avoid having to endure the madness downstairs.

In contrast there was relative calm in markets yesterday in a quieter session due to various Remembrance Day holidays. Positive sentiment returned to US markets though with Europe continuing to march on. Futures have reversed some these gains overnight but the S&P 500 climbed +0.77% yesterday to recover from the previous day’s losses and close in on its all-time closing high again. In a reversal of the post Pfizer/BioNTech trend, technology stocks led the advance as the NASDAQ rebounded +2.01% with support from Amazon (+3.37%), Microsoft (+2.63%) and Apple (+3.04%). European equities also continued to move higher, with the STOXX 600 up +1.08% to reach a fresh post-pandemic high, as tech (+1.97%) was also one of the leading sectors In Europe. The VIX fell -1.4pts to 23.45pts, its lowest level since the end of August, having now fallen in 7 of the last 8 sessions.

There seemed to be profit-taking in the reopening vs stay-at-home trades yesterday in the US. Airlines (-4.06%) were the worst performing US industry followed by Energy Equipment (-2.21%) and Consumer Finance (-3.12%), while pandemic winners such as Semiconductors (+3.72%), Internet Retail (+3.13%) and Tech hardware (+2.85%) led the S&P. Europe saw more of a broad based rally with 17 of 20 sectors higher, led by Utilities (+2.61%) and Real Estate (+2.42%) alongside the aforementioned Tech sector.

With risk assets benefiting from the news of a potential vaccine and hopes of a return to normality, oil prices continued to advance as well yesterday, and both Brent crude (+0.44%) and WTI (+0.22%) reached a 2-month high of $43.80/bbl and $41.45/bbl respectively though both measures were up near 2% earlier in the day. Elsewhere in the commodities sphere however, safe havens have unsurprisingly struggled in recent days, and gold fell another -0.62% yesterday as the precious metal almost hit a 3-month low at $1,866/oz.

Overnight Asian markets are trading largely lower outside of the Nikkei (+0.08%) which is broadly flat. The Hang Seng (-0.16%), Shanghai Comp (-0.25%), Kospi (-0.29%) and Asx (-0.49%) are all down. Futures on the S&P 500 are also down -0.63% this morning as are European futures (DAX futures -0.79%). Meanwhile, yields on 10y USTs are down -4.4bps to 0.934% having reopened post the holiday. Elsewhere, Bloomberg reported that OPEC+ talks are zeroing in on a three to six month delay to next year’s planned oil-output increase.

Though the Pfizer vaccine news has brought relief to markets, it is unlikely to come soon enough to prevent the continued second wave of the virus in numerous countries, and we saw a further deterioration in the global picture yesterday. In Italy, the total number of virus cases since the pandemic began climbed above 1m yesterday, as the country reported a further 32,961 cases. The number of deaths in the country also stood at 623, which was the most since early April. Similarly, Germany reported its most daily fatalities since mid-April at 261. Here in the UK, a further 595 deaths were reported, which took the total number since the pandemic began above 50,000. However there are continued signs of a levelling off in case numbers in much of Europe. In New York City though, the positivity rate reached 2.52%, almost at the 3% threshold that forces the closure of in-class teaching. The State of New York has responded to the spike with an order closing bars and restaurants at 10pm. Governor Cuomo indicated that more restrictions will come if the virus is not brought under control but that he is resistant to a full lockdown.

On potential vaccines, Moderna is expected to give an early look at some point soon on the efficacy of its vaccine candidate. The initial interim analysis is supposed to be triggered after 53 volunteers of the roughly 40,000 participant study are infected. A secondary analysis will take place once this doubles to 106 infections. The company announced yesterday that it reached the threshold of 53 infected participants and likely surpassed it given a statement from the company said that there was “a significant increase in the rate of case identification across sites in the last week.” They do not know how long the analysis will take as the company is blinded to the data. Meanwhile the Phase 3 trial of Sinovac’s vaccine candidate have restarted in Brazil after the country faced criticism that the decision to stop it was political. Elsewhere, The International Olympic Committee has said that it is “more and more confident” that there will be “reasonable amount of spectators” at the Tokyo Olympics next year. The IOC president said that more virus countermeasures are being added, and the potential availability of a vaccine and rapid testing should also help the Tokyo games.

Back to yesterday and focus was also on the ECB at the start of their forum on central banking yesterday, in particular on President Lagarde’s keynote speech. A notable line from her remarks was that although “all options are on the table, the PEPP and TLTROs have proven their effectiveness in the current environment and can be dynamically adjusted to react to how the pandemic evolves. They are therefore likely to remain the main tools for adjusting our monetary policy.” Furthermore, Lagarde also said in the speech that “when thinking about favourable financing conditions, what matters is not only the level of financing conditions but the duration of policy support, too.” As our chief European economist Mark Wall writes in his blog (link here), these remarks hint at the extension of PEPP net purchases and the TLTRO3 discount beyond June 2021 as likely components of a package of easing measures in December.

Against this backdrop, European sovereign bonds made gains yesterday, with yields on 10yr bunds (-2.2bps), OATs (-2.7bps) and BTPs (-2.4bps) all moving lower. Meanwhile the spread of Spanish 10yr yields over bunds fell -0.7bps to 0.66%, their tightest level since late February. Gilts were the exception to these moves, with 10yr yields up +1.2bps to a 7-month high, and US Treasury markets were closed for a holiday.

Elsewhere in Europe, sterling lost ground (-0.38% against USD) as a Reuters report said that sources from both sides in the Brexit talks had told them that the discussions were set to go past the end of this week. The report said that the middle of next week was when EU sources now expected an agreed text, assuming that there wasn’t a breakthrough earlier than that or a collapse in the negotiations. If they reach that new deadline, that would be just in time for a scheduled video conference of EU leaders on Thursday 19, when leaders would have the chance to discuss any agreement.

Elsewhere in politics and returning to the US, yesterday there was confirmation that Republicans will have at least 50 seats in the US Senate. Democrats are now relying on flipping the two Georgia seats at the January 5th runoff, in order to have a 50-50 Senate composition with Vice President-elect Kamala Harris being the tie-breaker. Staying with Georgia, yesterday the state’s Secretary of State announced that there would be a hand audit of the election which is likely to take a couple of weeks to complete. The results of the election must be certified in the state by November 20.

To the day ahead now, and attention will be on central bankers at the ECB’s forum, where ECB President Lagarde, Fed Chair Powell and Bank of England Governor Bailey will all be appearing on a policy panel. Otherwise, we’ll also hear from ECB Vice President de Guindos and the Fed’s Evans, while the ECB will publish their Economic Bulletin. In terms of data releases, we’ll get UK GDP data for Q3, Euro Area industrial production for September, and from the US there’s the October CPI data, weekly initial jobless claims and the October monthly budget statement. Finally, earnings releases include Walt Disney and Cisco Systems.

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 3.52 PTS OR .11%   //Hang Sang CLOSED DOWN 57.60 PTS OR .22%    /The Nikkei closed UP 171.28 POINTS OR 0.68%//Australia’s all ordinaires CLOSED DOWN 0.48%

/Chinese yuan (ONSHORE) closed UP 6.6235 /Oil UP TO 57.21 dollars per barrel for WTI and 64.13 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6235. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6227 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/USA

 

4/EUROPEAN AFFAIRS

EUROPE

Europe union moves to outlaw encrypted apps like Signal

Government wants to listen on your conversations

(Eric Striker)

European Union Moves To Outlaw Encrypted Apps

 
 

Authored by Eric Striker,

The European Union is moving to ban end-to-end encrypted communication.

An EU council of ministers resolution spearheaded by French Prime Minister Emmanuel Macron and Austrian Chancellor Sebastian Kurz of the conservative Austrian People’s Party would mandate that apps such as Telegram, Signal, and WhatsApp provide European intelligence services with backdoor access in order to allow them to better monitor the conversations of their citizens.

Encryption is an important tool used by dissidents, journalists and privacy-conscious citizens around the world in an age of mass surveillance and strict social media censorship. Millions have started embracing the technology in the West as the rulers of the Anglosphere and Europe continue to lose public confidence and become more repressive.

The excuse being given for this effort is a spate of recent terrorist attacks in France and Austria committed by Islamic extremists. Rather than contend with the complex cultural, ethnic and immigration issues that lead to such violence, Macron, Kurz and the interests they represent see an opportunity to expand their eavesdropping power over their increasingly frightened population.

In recent years, laws passed by liberal governments under the guise of combating foreign Islamic terrorism have been utilized against citizens espousing nationalist, populist and dissident ideas, as well as adversarial political factions.

In the United States, the Department of Homeland Security (DHS) was founded after 9/11 to combat Al Qaeda operations domestically, but its unconstitutional powers today are largely focused on going after right-wing white men. The FBI’s CIA-like power granted to them in the name of counter-terrorism lowered the bar for surveillance via the secret FISA court and was used by permanent bureaucrats to entrap and spy on members of Donald Trump’s presidential campaign in 2016.

Figures struggling with low approval ratings like Macron have a vested interest in being able to spy on protest movements like the Yellow Vests, who have largely been shut down by Facebook and forced to migrate to Telegram.

In pursuing these measures, Europe will be following the lead of the Five Eyes intelligence network (United Kingdom, United States, Australia, New Zealand and Canada), which last October put out a call for an international plan to end accessible encryption for ordinary citizens.

In their statement last month, the Department of Justice claimed they were concerned with the proliferation of child pornography over these apps. This rationalization rings hollow since the FBI’s budget for combating child exploitation and pornography has remained stagnant over the years and they continue to allocate meager resources to even investigate the record number of reports they receive.

Countries that ban encrypted apps are currently derided by neo-liberal institutions in Europe for being oppressive. 

Last January, the European Court of Human Rights (ECHR) ruled that Russia’s ban on Telegram following the app designer’s refusal to provide a backdoor to aid in a terrorism investigation was a violation of free expression. Russia has since unbanned the app.

But litigation against a potential ban inside of Europe itself may not be as successful, according to the court’s track record.

The ECHR exposed itself as a fraudulent propaganda tool when it ruled in 2019 that expressing skepticism on the “Holocaust” narrative is not a human right, while simultaneously affirming that Armenian genocide denial at the hands of the Turkish governmentis protected free speech.

Whatever comes of this EU effort, it’s clear that the liberal elite’s response to problems they create will be no different than what they criticize China or Russia for. 

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

6.Global Issues

 
 

7. OIL ISSUES

Iran

Iran’s supergiant South Pars natural gas field nears completion. how did Iran which is technically bankrupt finance these operations?:  China.

(OilPrice.com/Watkins)

end

8 EMERGING MARKET ISSUES

 

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

Euro/USA 1.1797 UP .0019 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /RED

USA/JAPAN YEN 105.34 DOWN 0.073 (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 1.3140   UP   0.0083  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3099 UP .0030 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  THURSDAY morning in Europe, the Euro ROSE BY 30 basis points, trading now ABOVE the important 1.08 level RISING to 1.1797 Last night Shanghai COMPOSITE DOWN 3.52 PTS OR .11% 

//Hang Sang CLOSED DOWN 57.60 PTS OR .22% 

/AUSTRALIA CLOSED DOWN 0,48%// EUROPEAN BOURSES ALL RED

Trading from Europe and Asia

EUROPEAN BOURSES ALL RED

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 57.60 PTS OR .22% 

/SHANGHAI CLOSED DOWN 3.52 PTS OR .11% 

Australia BOURSE CLOSED DOWN 0.48% 

Nikkei (Japan) CLOSED UP 171.28  POINTS OR 0.68%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1871.40

silver:$24.23-

Early THURSDAY morning USA 10 year bond yield: 0.941% !!! DOWN 4 IN POINTS from WEDNESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.713 DOWN 3  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 92.95 DOWN 10 CENT(S) from  THURSDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  THURSDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.10% DOWN 2 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.03.%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

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

ITALIAN 10 YR BOND YIELD:0.69 DOWN 5 points in basis points yield from yesterday./

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

GERMAN 10 YR BOND YIELD: FALLS TO –.54% 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 THURSDAY

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

Euro/USA 1.1811  UP     .0033 or 33 basis points

USA/Japan: 105.17 DOWN .245 OR YEN UP 25  basis points/

Great Britain/USA 1.3130 DOWN .0085 POUND DOWN 85  BASIS POINTS)

Canadian dollar DOWN 58 basis points to 1.3117

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,CNY: closed DOWN TO 6.6130    ON SHORE  (DOWN)..

THE USA/YUAN OFFSHORE:  6.6084  (YUAN DOWN)..

TURKISH LIRA:  7.69  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.03%

Your closing 10 yr US bond yield DOWN 7 IN basis points from WEDNESDAY at 0.929 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.676 DOWN 7 in basis points on the day

Your closing USA dollar index, 92.90 down 15  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 43.16  0.68%

German Dax :  CLOSED DOWN 162.23 POINTS OR 1.24%

Paris Cac CLOSED DOWN 82.64 POINTS 1.52%

Spain IBEX CLOSED DOWN 67.70 POINTS or 0.87%

Italian MIB: CLOSED DOWN 175.29 POINTS OR 0.83%

WTI Oil price; 41.99 12:00  PM  EST

Brent Oil: 44.31 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    77.13  THE CROSS HIGHER BY 0.06 RUBLES/DOLLAR (RUBLE LOWER BY 06 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.54 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 :  40.93//

BRENT :  43.41

USA 10 YR BOND YIELD: … 0.878..down 10 basis points…

USA 30 YR BOND YIELD: 1.641 down 10 basis points..

EURO/USA 1.1806 ( UP 27   BASIS POINTS)

USA/JAPANESE YEN:105.10 DOWN .310 (YEN UP 31 BASIS POINTS/..

USA DOLLAR INDEX: 92.96 DOWN 8 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.31186 DOWN 104  POINTS

the Turkish lira close: 7.69

the Russian rouble 77.31   DOWN 0.25 Roubles against the uSA dollar. (DOWN 25 BASIS POINTS)

Canadian dollar:  1.3130 UP 72 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.53%

The Dow closed DOWN 317.46 POINTS OR 1.08%

NASDAQ closed DOWN 251.49 POINTS OR 2.22%


VOLATILITY INDEX:  27.20 CLOSED UP .50

LIBOR 3 MONTH DURATION: 0.220%//libor dropping like a stone

USA trading today in Graph Form

Bonds Bid, Stocks Skid As Lockdowns Loom, Stimulus Doomed

 
 

A combination of various state/city lockdown orders (on the back of Biden advisors pushing for a national lockdown for up to 6 weeks) and headlines from Washington that stimulus will be dramatically smaller than hoped for (if at all), sent all the major US equity indices lower today. Small Caps were hit hardest but as the headlines hit, even Big-Tech couldn’t hold any gains (after Trump admin unveils EO blocking some China stock buys)…

NOTE – the same last-minute panic-buying as yesterday.

The S&P is back in the red post-vaccine and Small Caps are rapidly giving up their exuberant gains…

Additionally, after taking the day off yesterday to remember Veterans, bond traders were in buoyant mode, buying Treasuries across the curve (even after a weak 30Y auction) as Fed’s Powell hinted at more action required (and fiscal stimulus ‘reflationary’ hopes faded)…

Source: Bloomberg

Clearly the Biden administration is going full Judge Dredd with its plans for “crushing” COVID…

And as bond yields tumbled, so did banks…

Source: Bloomberg

Momentum managed decent gains versus value today (but is still having a record-bad week)…

Source: Bloomberg

And has more to go if rates are to be believed…

Source: Bloomberg

Cyclicals and Defensives both tumbled…

Source: Bloomberg

The S&P rejected its high close once again…

Source: Bloomberg

VIX topped 27 today, spiking back above Tuesday’s highs…

Smart Money continues to diverge from equity exuberance…

Source: Bloomberg

Overall, bonds are erasing their losses from the Pfizer vaccine news…

Source: Bloomberg

The Dollar was marginally higher, basically treading water again (still well below election night highs)…

Source: Bloomberg

Bitcoin rallied back above $16,000 as PayPal went live with its crypto trading platform…

Source: Bloomberg

Oil prices slipped lower after an unexpected crude build…

Gold rallied (despite a slightly stronger dollar)…

Silver managed a modest gain…

Finally, while the casedemic continues to drive panic and lockdowns, the official CDC data (green) shows hospitalizations (lagged by a week) remain manageable,

Source: Bloomberg

Did the Nasdaq just ‘peak’ against the Dow?

Source: Bloomberg

US Macro data has been serially disappointing since mid-July and is now at its lowest since mid June…

a)Market trading/LAST NIGHT/USA

 
 

b)MARKET TRADING/USA//Non farm payrolls

 
 

ii)Market data/USA

Why not start off with a bang! The new fiscal 2021 budget deficit a whopping 284 billion dollars for the first month, October.

(MARKET WATCH)

US Starts Off Fiscal 2021 With Largest October Budget Deficit On Record

 

One month after the Treasury announced that the US ended fiscal 2020 with a staggering, record $3.1 trillion budget deficit, more than triple the prior year’s $954 billion, as a result outlays of $6.552 trillion, almost double the receipts of $3.420 trillion, moments ago we learned that the US started off fiscal 2021 in style, and in the month of October the budget deficit was a whopping $284 billion, $10 billion more than the expected $274.5 billion, and more than double last year’s October deficit of $134.5 billion. This was also the biggest October deficit in history.

Specifically according to the Treasury, in August, government outlays were $521.8 billion, up $24 billion from the $497.8 billion spent in September, and a whopping 37% more than the $380 billion the US spent last October…

… while receipts shrank from the $373.2 billion received in September to $237.7 billion, and down 3.2% from the $245.5 billion received last October (the question of why anyone still pays taxes in a time of helicopter money, when the Fed simply purchases whatever debt the Treasury issues, remains).

The chart below shows the October and YTD 2020 breakdown between various receipts and outlays. It reveals that the bulk of the total $238BN in receipts came from Individual Income Taxes ($109BN) and from Social Security and Retirement payments ($96BN), while the biggest spending categories were Medicare ($96BN), Social Security ($93BN), National Defense ($80BN), Income Security ($73BN) and Health ($63BN). Net interest on public debt was “only” $32 billion, but this number can only grow.

Finally putting the October number in context, the October deficit of $284.1 billion was not only more than double the deficit recorded in any year in the past decade, but was the highest October deficit on record, in what is an ominous confirmation that the US debt, already over $27.1 trillion will rise above $30 trillion within the next 12 or so months.

end
 

Jobless claims sink 48,000 in week of presidential vote to pandemic low of 709,000

Nov. 12, 2020 at 8:43 a.m. ET

MarketWatch

Yet record coronavirus surge threatens more layoffs

The numbers: The number of people who applied for state unemployment benefits during the week of the presidential election fell by 48,000 to a new pandemic low of 709,000, suggesting the labor market was still on the mend despite a record outbreak in coronavirus cases.

Economists polled by MarketWatch had forecast initial jobless claims to decline to 731,000 in the seven days ended Nov. 7

Another 298,154 people applied for benefits through a temporary federal-relief program that expires at the end of the year, the government said Thursday.

The number of people already collecting state-provided benefits, known as continuing claims, declined by 436,000 to a seasonally adjusted 6.79 million in the week ended Oct 31.

The drop in state-provided jobless benefits marks yet another pandemic low, but the decline has been partly offset by a rising number of people who’ve shifted into a federal program that offers extended compensation.

Federal continuing claims rose by an unadjusted 159,776 to 4.14 million in the week ended Oct. 24, the latest data available . The number of people receiving these benefits has more than tripled since August.

What happened: New jobless claims are falling steadily, but they are still more than three times higher now than before the coronavirus struck in March. The number of new claims last week would have been an all-time record in any other week prior to the onset of the pandemic.

Altogether, the number of people receiving benefits from eight separate state and federal programs slipped by 374,179 to an unadjusted 21.16 million as of Oct. 24. It’s unclear how many people exhausted benefits or found work.

Some economists question the accuracy of the total estimate since other government data indicates unemployment is significantly lower.

The big picture: Still-high unemployment is a major obstacle to a full recovery of the U.S. economy — and the latest coronavirus outbreak won’t make it any easier. The record surge in cases is causing some states to reimpose restrictions, raising worries about more business closures and job losses.

If the economy takes a turn for the worse, pressure is sure to intensify on a divided Congress to approve more federal aid for the unemployed and struggling businesses before President-election Joe Biden takes office in late January.

A prior aid package expired in July and extended jobless benefits run out on at the end of the year.

-END-

 

-another 90,000 airline jobs set to disappear by year end due to the national lockdwons

 

(ZEROHEDGE)-

Another 90,000 Airline Jobs Set To Disappear By Year-End As National Lockdown Looms

 

Despite the bullish news surrounding Pfizer’s COVID-19 vaccine earlier this week, lifting airline stocks to the stratosphere, on hopes of a recovery in the severely beaten down travel and tourism sector, an industry group warned Thursday about the dire situation still facing many airlines. 

U.S. Global Jets ETF Jumped On Pfizer COVID-19 Vaccine News

Airline For America’s CEO Nick Calio, speaking at a conference Thursday morning, said air travel demand is “softening” late in the year. He said some of the reasons for the slump could be due to the resurgence of the virus pandemic

The daily number of passengers screened at TSA checkpoints in the U.S. from March 2019 to November 2020 remains halved from early March levels. As the second wave of the virus pandemic ravages many parts of the U.S. – what appears to be happening in the chart below are lower volumes of daily passengers screened at TSA checkpoints that peaked on Oct. 18

 

Calio said airlines’ Thanksgiving-week capacity could be down as much as 39% from a year ago, compared with a 47% drop in the first half of November. It was also noted that corporate air travel in the US remains 86% below 2019 levels. 

He said airlines could ax upwards of 90,000 workers this year as many carriers must reduce costs to survive the downturn. A muted recovery so far and waning revenues have left airlines in a precarious position – where they’re quickly running out of cash. At the moment, airlines are burning through $180 million per day, with only enough cash through 1Q21.

In October, the International Air Transport Association (IATA) warned that global airlines are on track to lose nearly $130 billion this year – significantly more than June’s estimates of $84 billion. 

IATA has already said the virus-induced downturn has resulted in 30 or 40 airlines having failed or restructured in bankruptcy.

IATA analysis shows airlines have about three-quarters of cash on hand at the current burn rate. With airline passenger volumes still down 65% in October from last year, airline ticket prices have crashed, increasing worries that airlines’ revenue streams won’t be enough to service existing debts. 

To survive, some airlines, such as Emirates, the largest commercial airline in the UAE, have converted some of its passenger jets into “mini-freighters” to haul medical supplies worldwide.

end

iii) Important USA Economic Stories

A good review of what we have revealed to you.

In this video General McInerney exposes the real vote fraud, the Scorecard and Hammer software the flips votes.

a must view.

(  NewAmerican.com)

ELECTION STEAL – General exposes the REAL vote fraud the media are hiding: CIA computer program flips votes – The New American

 
 
 
 
Lt. Gen. Thomas G. McInerney (USAF, retired) warns that if the stealing of the 2020 election is not exposed and overturned we will never see another free election in America.
The three-star general, a highly decorated Vietnam War fighter pilot (over 400 combat missions) and top USAF/NORAD commander and DOD official lays out the criminal use of the secret Hammer-Scorecard program by the Obama administration (including Clapper, Brennan, Comey) to throw U.S. elections
 
end
 
 
Must view:  Rudy Giuliani confirms that “Dominion” whistleblowers are coming forward.
 
(Hoft/Gateway Pundit)
 

BREAKING: Rudy Giuliani Confirms “Dominion” Whistleblowers Are Coming Forward (VIDEO)

 
 

Rudy Giuliani reportedly confirmed today that Dominion software whistleblowers have stepped forward.

This is exceptional news.

The Gateway Pundit has been covering on the software problems in the US election for several days now.

TRENDING: BREAKING EXCLUSIVE: Open Records Request Finds NO INVOICES OR WORK ORDERS on Reported Election Day Water Main Break in Atlanta — Here’s What We Found…

Rudy Giuliani joined Steve Bannon on Wednesday they have witnesses from Dominion who stepped forward to testify.

Rudy Giuliani: Coleman has the community people and he’s got the Dominion people. And they were the ones who were the actual, not poll watchers, the actual observers who were excluded, who were lied to, two of whom stayed behind after all the Republicans had left out and they’re the ones who got the evidence of the 100,000 votes coming in. And they have some photographs also.

end

Giuliani claims that 650,000 votes were counted unlawfully in the two cities of Philadelphia and Pittsburgh

(Brugen/EpochTimes)

Giuliani: 650,000 Votes Were Counted Unlawfully In Philadelphia And Pittsburgh

 

Authored by Isabel van Brugen via The Epoch Times,

Rudy Giuliani, one of President Donald Trump’s personal lawyers, alleged on Nov. 11 that roughly 650,000 unlawful ballots were cast in Philadelphia and Pittsburgh, Pennsylvania.

Speaking with Fox Business’ Lou Dobbs, Giuliani claimed that “almost none” of the hundreds of thousands of ballots were observed by Republican poll watchers. State election law requires the presence of poll watchers from all parties.

 

“We now are up to a count of about 650,000 ballots that are unlawful ballots that were cast in Philadelphia and Pittsburgh,” he said.

“What’s being said in the mass media, that we have no evidence, is a complete, absolute lie, just like they’ve been lying for years.”

On Monday, Gov. Tom Wolf’s office said in a statement that ballot watchers from all parties have had observers throughout the process and that “any insinuation otherwise is a lie.”

A few days earlier, Giuliani said that the Trump campaign may have sufficient evidence to change the election results in the state of Pennsylvania.

He told Fox News’ Maria Bartiromo on Sunday that lawsuits being filed by Trump’s reelection campaign might show that as many as 900,000 invalid ballots were cast in the battleground state.

According to an unofficial vote count from the Pennsylvania Department of State, Biden has received 3.35 million votes to Trump’s 3.31 million votes. Percentage-wise, Biden has 49.7 percent, compared to Trump’s 49.1 percent.

 

(L) Democratic Presidential candidate Joe Biden speaks at the Chase Center in Wilmington, Del., on Nov. 4, 2020. (Jim Watson / AFP via Getty Images); (R) President Donald Trump speaks on election night in the East Room of the White House in Washington, in the early morning hours of Nov. 4, 2020. (Chip Somodevilla/Getty Images)

“I think we have enough to change Pennsylvania. The Pennsylvania election was a disaster,” Giuliani said, responding to a question from the host about whether the evidence is enough to change the fate of the presidential election.

“We have people that observed people being pushed out of the polling place. We have people who were suggested to vote the other way and shown how to do it. I’m giving you the big picture,” he said.

While mail-in ballots were being counted, GOP Pittsburgh observers were “kept out of the room or kept away from the room” for a period of 24 hours, Giuliani alleged.

“Even though we went to court and we were allowed to move six feet closer, the Democrat machine people moved the counting place six feet further away. This is documented on videotape. There are upwards of 50 witnesses,” he continued.

Mail-in ballots are counted in Lehigh County, Pa., on Nov. 4, 2020. (Rachel Wisniewski/Reuters)

“If you were a Democrat in Philadelphia, you were allowed to work outside the bounds of the restrictions on fixing defective ballots, sometimes referred to as ‘curing,’” Matt Morgan, general counsel to the Trump campaign, explained during a Monday press conference.

“But if you were in Republican counties of the state of Pennsylvania, you were not allowed to do that because they were strictly following the text of the statute in Pennsylvania.”

The lawsuit also includes a postal worker from Erie County who claimed that he had heard his supervisors talking about illegally backdating ballots that arrived late so that they appeared legitimate. His claim was also cited by Sen. Lindsey Graham (R-S.C.) in a letter to the Justice Department calling for a federal investigation.

end

Watching how this thing unfolds will be worth the price of admission

Trump drops the bomb: millions of votes for Trump removed//votes switched

(Hoft/Gateway Pundit)

TRUMP DROPS BOMB: This Is Exactly What Gateway Pundit Has Been Reporting! — Dominion Caught – VOTER FRAUD IN THE MILLIONS!

 
 

We nailed it – President Trump just tweeted the numbers we reported the other night – KABOOM!

We reported on Monday Night:

Trump tweeted the same today!

TRENDING: BOOM! TRUMP TWEETS: REPORT: DOMINION DELETED 2.7 MILLION TRUMP VOTES NATIONWIDE. DATA ANALYSIS FINDS 221,000 PENNSYLVANIA VOTES SWITCHED FROM PRESIDENT TRUMP TO BIDEN

 

end
 
 
Background noise//not really important.  The big one is Scorecard and Hammer
(zerohedge)

PA Judge Rules Some Late Ballots Don’t Count; Secretary Of State ‘Lacked Authority’ To Extend Deadline

 

A Pennsylvania judge ruled on Thursday that the state cannot count late ballots which required voters to provide proof of identification to ‘cure’ them, yet failed to do so by Nov. 9.

After the Pennsylvania Supreme Court ruled that mail-in ballots could be accepted three days after Election Day, PA Secretary of State Kathy Boockvar submitted her own guidance that said proof of ID could be provided up to Nov 12, three days from the ballot acceptance deadline.

The order is notably separate from a challenge to the PA Supreme Court decision to allow late ballots, and invalidates only those subject to Boockvar’s extension to cure a lack of ID between Nov. 10-12.

“[T]he Court concludes that Respondent Kathy Boockvar, in her official capacity as Secretary of the Commonwealth, lacked statutory authority to issue the November 1, 2020, guidance to Respondents County Boards of Elections insofar as that guidance purported to change the deadline … for certain electors to verify proof of identification,” wrote Judge Mary Hannah Leavitt in a court order.

“Accordingly, the Court heareby ORDERS that Respondents County Board of Elections are enjoined from counting any ballots that have been segregated pursuant to paragraph 1 of this Court’s order dated November 5, 2020, granting a special injunction.”

end
 
 
This is interesting!! The Federal Election Commission Chairman has just issued a bombshell statement” this election is illegitimate
Maybe he read my headline on Wednesday night:  “they anointed an
illegitimate king”
 
(courtesy News/Punch)

Federal Election Commission Chairman Drops Bombshell: ‘This Election Is Illegitimate’

The Chairman of the Federal Election Commission went on record with a bombshell announcement, stating that from what he’s seen in Pennsylvania, and reports he’s been getting from elsewhere in the country, this election is illegitimate.

 

It really is explosive news. The top boss of all the election officials, Trey Trainor, has confirmed that in his professional opinion, “there has not been transparency in the election” and “this election is illegitimate.

He dropped the bombshell on the liberal news media at Newsmax when he made the announcement that he believes “that there is voter fraud taking place in these places.”

There is no legitimate reason at all for observers to be denied access to the ballot counting. Ipso facto, the ballot counting must be “illegitimate. That announcement isn’t coming from just anyone. Trey Trainor isn’t just a state election official, he’s a federal one.

And on top of that, he’s the leader of the whole commission. Unlike the liberal media hacks who were in a hurry to call state races for the Democrats and the presidency for Biden, Trainor knows a thing or two about election integrity.

 

Speaking to Newsmax, Chairman Trainor said, “Despite winning a court order which allows the Trump campaign to send observers to watch ballot counting in Pennsylvania from six feet away ballot watchers ‘have not been allowed into the polling locations in a meaningful way.’”

Trainor points out that “when observers have been permitted to watch, the goalpost has been moved away.” Simply put, “there has not been transparency in the election.”

Our whole political system is based upon transparency to avoid the appearance of corruption,” Trainor insists. “State law allows those observers to be in there. If the law isn’t being followed then this election is ‘illegitimate.‘” 

The Trump campaign held a press conference on Saturday to make an big announcement of their own.

They declared they will go to war over this in the courts. As Rudy Giuliani said, the media don’t get to decide who won the election — judges do.

Chairman Trainor, an old school gunslinger from Texas appointed by Trump, is behind them all the way. What Team Trump is claiming are “very valid allegations,” he agrees, which need to be “fully vetted” by the court system. He predicts that the charges are serious enough to “end up in the Supreme Court.”

 

end

What planet is this guy on?  Biden’s science advisor calls for a full 4 to 6 week lockdown.  It will only delay the COVID advance but destroy the economy

(zerohedge)

Biden ‘Science’ Advisor Calls For 4-6 Week Nationwide Lockdown To Avoid “COVID Hell”

 

Meet the esteemed Dr. Michael Osterholm, who serves as director of the Center of Infectious Disease Research and Policy at the University of Minnesota, and is the latest “scientist” to join Joe Biden’s “special coronavirus transition advisory team.”

We have to do something, Osterholm argues, or – echoing the exact same words Dr. Fauci has fearmongered America with – the U.S. is headed for dark days before a vaccine becomes available.

 

The ‘casedemic’ does look terrifying.

So what is his suggestion?

Simple…

A nationwide lockdown would drive the number of new cases and hospitalizations down to manageable levels while the world awaits a vaccine, Osterholm told Yahoo Finance on Wednesday.

“We could pay for a package right now to cover all of the wages, lost wages for individual workers for losses to small companies to medium-sized companies or city, state, county governments. We could do all of that,” he said. “If we did that, then we could lockdown for four-to-six weeks.”

So a massive bailout for state and local governments… oh and “we, the people” while we all suffer locked-down like a dementia-ridden presidential candidate in our basements through Thanksgiving and Christmas… with depression and suicide rates soaring ever higher?

 

As a reminder, we note that this is the same ‘scientist’ who co-wrote an op-ed with Minneapolis Federal Reserve President Neel Kashkari in which the two argued for more restrictive and uniform lockdowns across the nation.

“The problem with the March-to-May lockdown was that it was not uniformly stringent across the country. For example, Minnesota deemed 78 percent of its workers essential,” they wrote in the New York Times.

“To be effective, the lockdown has to be as comprehensive and strict as possible.”

In other words – Obey! Or the economy gets it… Again!

There’s just one thing… the real ‘science’ – where actual experiments are undergone, results noted, and theses concluded – shows that lockdowns do not work…

As we detailed earlier, in a surprising report out of JPMorgan, the bank finds no meaningful curve development differences between countries with and without strong curve intervention.

This makes the bank question if existing public health intervention (i.e., lockdown/ stricter social distancing) should remain in place next year, and leads JPM to conclude that “public health policy should consider approaches biased towards economic/pubic mental health over the urge to close the curve in 2021.

To reach its “startling” conclusion, JPMorgan compared countries without lockdown, keeping the economy open under certain levels of social-distancing (Brazil, US, Sweden, Japan, Korea) to countries with strong curve intervention (UK, Germany, Italy, France, China, India) to see any meaningful differential in the curve development.

This outcome suggest that COVID-19 follows a similar diffusion and development process of other infectious diseases with certain life cycles. Therefore, JPMorgan would argue that public health policy should consider a bit more biased approach on economic/pubic mental health over the aim to close the infection curve in 2021 as lockdowns could be costly to the economy.

JPMorgan’s conclusion: “Keeping public activities open and tracing susceptible people leveraging technology looks to have better risk reward to us.”

And just in case you shrug off JPMorgan’s ‘scientific’ findings, a recent study in The Lancet (yes, that scientific journal) found no correlation whatsoever between severity of lockdown and number of covid deaths. And they didn’t find any correlation between border closures and covid deaths either. And there was no correlation between mass testing and covid deaths either, for that matter. Basically, nothing that various world governments have done to combat covid seems to have had any effect whatsoever on the number of deaths.

As Raul Ilargi Meijer notedlockdowns are based on pretending we can make time stand still.

That, like in one of those slick videos, everything else stops moving while you can walk around it. All Else Being Equal. It never is, not for 6-7 months. And that the first lockdown didn’t work, at least not for long, should perhaps be a lesson. Maybe you should look for answers elsewhere. Because the damage just goes on, economically, psychologically, physically.

I’m not pretending I have the answers. I do have questions though. While the situation reminds me of Sisyphus, forced by Zeus to roll a boulder up a hill for eternity. Every time he nears the top of the hill, the boulder rolls back down.

We need to find a balance between the threat of COVID19 and the threat of everything else, very much including those things that are caused by our approach to COVID.

Presumably, Dr. Osterholm and the rest of his 11 wise men (and women and non-binary individuals) on Joe Biden’s COVID advisory team did not bother to look at the actual science… or actual facts… preferring instead to tie their careers to a Federal Reserve president (with no background in ‘sciencey’ stuff – but very well versed in massive government-funded bailouts) and the belief that if we just keep puking borrowed- or tax-payer-funded cash at people while shutting down the economy, then we will “keep the coronavirus pandemic in check and get the economy on track until a vaccine is approved and distributed.”

TL;DR: Ignore common sense and the real-world science experiment that just took place, shutdown the economy to get the economy back on track.

end

What planet is she on? Cullors demands a meeting with Biden and that he must follow the BLM agenda.

(Watson/SummitNews)

Black Lives Matter Leader Demands Biden Follow BLM Agenda

 

Authored by Paul Joseph Watson via Summit News,

Black Lives Matter leader Patrisse Cullors has demanded a meeting with Joe Biden, asserting that if Biden is elected president he must ‘prioritize’ the BLM agenda.

“Without the resounding support of Black people, we would be saddled with a very different electoral outcome. In short, Black people won this election,” wrote Cullors, despite the fact that BLM didn’t explicitly endorse any candidate.

Demanding a meeting with Biden to “discuss the expectations that we have for your administration and the commitments that must be made to Black people,” Cullors made it clear that BLM wouldn’t take no for an answer when it comes to giving them influence within a Biden administration.

“We want something for our vote,” wrote Cullors, adding, “We want to be heard and our agenda to be prioritized.”

Claiming that the United States was built on the “subjugation” of black people, the far-left activist demanded a “well-thought out, community-driven, fully resourced agenda that addresses the particular challenges faced by Black people.”

Only after they noticed it had started to hurt them in the polls did the Democratic Party denounce BLM-orchestrated rioting and looting that had been tearing U.S. cities apart for months in the aftermath of the death of George Floyd.

As has been pointed out many times before, BLM’s agenda isn’t merely “justice” for black people, it’s the systematic destruction of capitalism and the western way of life.

Cullors herself has repeatedly cited her inspiration as none other than Assata Shakur, a convicted cop killer who is on the FBI’s ‘Most Wanted Terrorists’ list.

She was also the protégé of communist-supporting domestic terrorist Eric Mann.

If Biden does take the White House and cave to the Black Lives Matter agenda, he will be sacrificing America in the process.

*  *  *

end

USA/Germany

Exactly what the uSA electorate did not want:  keep USA troops in Europe/Asia.  Trump wants them home and he does not want to pay for Germany’s defense

(zerohedge)

 

Biden Expected To Reverse Trump’s Germany Troop Draw-Down

 

It’s expected that US President-elect Joe Biden will likely reverse course on the Trump administration’s American troop draw down from Germany, or at least partially.

Over the summer the Pentagon began initiating a White House plan to move 12,000 soldiers out of Germany on a permanent basis, with some actually being sent to Poland and other NATO countries, after the Trump administration slammed Berlin for not shouldering its fair share of NATO defense spending. As Defense Post writes, some officials currently favored to be tapped to lead the Pentagon under a new Biden administration have already signaled the Germany draw down would be among the first policies to fall under scrutiny:

Michele Flournoy — former number three at the Pentagon and a favorite to lead the Defense Department under the new administration — nearly predicted as much during a conference in August.

“If you have a new administration, the first thing they’ll do is a posture review globally,” she said at the Aspen Security Forum when asked about the withdrawals.

My hope is that this (withdrawal plan) will not be fully executed because I don’t think it’s in the strategic interests of the United States and it’s very damaging to our alliance relationships,” Flournoy said.

 

Via Reuters
 

There are currently nearly 35,000 American troops in the country. Former defense secretary Mark Esper first announced the plan on July 29, after which President Trump offered his key rationale: “We spend a lot of money on Germany, they take advantage of us on trade and they take advantage on the military, so we’re reducing the force,” he had said at a press briefing.

“They’re there to protect Europe, they’re there to protect Germany, and Germany is supposed to pay for it,” Trump added. “We don’t want to be responsible anymore.”

Kathleen Hicks of the Center for Strategic and International Studies, who has just been named to lead Biden’s Pentagon transition team, was also a prior vocal critic of the troop removal from Germany. She wrote in The Hillin August that it ultimately “benefits our adversaries” – a likely reference to Russia.

She wrote at the time that such a move “comes at the cost of readiness” and “will be expensive,” adding of the stated goals:

But this Pentagon decision does absolutely none of these things. It in fact significantly harms all those stated objectives in both the defense strategy and the national security strategy. This punishes Germany simply because Trump takes issue with the country.

 

Kathleen Hicks, via CSIS
 

Biden has lately called for a restoration of American leadership in the world and for the US to be at “center stage” of world affairs, which many have taken to mean a return to a more hawkish posture when it comes to troop readiness and response to conflicts and hotspots.

end

This doorknob does not look at the science: schoolchildren do not get the COVID 19 and yet he is prepared to close schools

(zerohedge)

NYC Mayor Prepares To Close Schools Despite ‘Strikingly Few’ COVID-19 Cases

 

New York City has more students in classrooms than any city in the US. And now that Detroit has just announced plans to close schools, it’s widely expected that NYC will soon follow suit, perhaps even as soon as Thursday.

couple of weeks ago, we reported that another COVID-19 ‘myth’ had been busted: research by credible scientists over a large set of data has shown that closing schools does little to actually slow the spread of the coronavirus. Schools, the researchers claimed, are more of a reflection of the rate of transmission in the broader community. And even as cases have climbed in NYC over the past six weeks, the positive test rate in NYC schools has been just 0.17% according to the NYT. Public officials have declared the city’s schools as among the safest in the nation.

Yet, as the city’s positivity rate, new cases and hospitalizations climb, Mayor de Blasio has warned that the city is on the cusp of returning to the 3% positivity rate that has been set out as a line in the sand.

 

But is that really the smartest move for NYC’s economy, and for its children, as the pandemic grinds on? As the NYT points out in a surprisingly critical piece, that includes the voices of parents and business owners questioning epidemiologists urging the closure of schools. In Europe, schools have been deemed “essential services” that must remain open; so far, none of the new lockdowns sweeping the continent have impacted schools.

But in NYC, classrooms might close before bars and restaurants.

To be sure, it’s not the only US city where school closures are still part of the policy mix. Last month, Boston canceled in-person classes, which had been offered only to high-needs students, for just a few weeks. On Tuesday, Philadelphia abandoned plans to reopen schools in November. Both cities, however, still allow some indoor dining. San Francisco, which paused indoor dining this week, never reopened its schools for in-person teaching, despite low transmission rates.

There are 1.1 million students and teachers in NYC schools, but although almost all city schools are open, the vast majority of parents have decided to keep their children learning from home for now, including significant numbers of Asian-American, hispanic and black families. Roughly 300,00 students are currently engaged in in-person education. Classrooms that once sat 30 children are now limited to 9.

Several people quoted by the NYT warned that closing schools again would be heading in the wrong direction. Uché Blackstock, an emergency medicine physician in the city and the founder of Advancing Health Equity, an organization focused on bias in health care, said NY should reconsider the 3% threshold: “We need to prioritize schools, and we need to think about innovative and safe ways to keep as many schools open as possible,” she said, pointing to research showing that schools were not “key drivers” of infections.

Dr. Blackstock said her own children are back in city classrooms and that their experience has been excellent. Even Michael Mulgrew, the president of the United Federation of Teachers, which used the virus to try and squeeze more labor concessions from the city, admitted to the NYT that schools have proven surprisingly safe.

end
 
 
Fox news tumbles as Trump urges followers to turn away.  Trump is planning his own TV network.  SEVERAL Fox personalities must leave:
1.Tucker Carlson, 2. Sean Hannity 3. Laura Ingraham, 4. Waters, 5 Judge Jeanine Pirro, 6. Mark Levin, 7. lou Dobbs  8. Steve Hilton
as well as Fox contributors Lisa Boothe, Charlie Kirk,  Candace Owens, leo Tirrell, Dan Bongino etc.
(zerohedge)

Fox Tumbles As Trump Urges Followers To Turn Away Amid Rumors About Rival Offering

 
 

Shares of Fox Corp., the corporate parent of Fox News and many of Rupert Murdoch’s remaining media assets following the sale of most of his entertainment business to Disney, are sliding Thursday after President Trump urged viewers to abandon Fox.

In a tweet, Trump essentially blamed the network for the election results, and argued that the network “forgot what made them successful”.

 

To be sure, he’s not entirely off-base here with these comments about Fox’s ratings.

Trump’s twitter feed was filled with retweets of viewers complaining about Fox’s coverage and saying they would be migrating to Newsmax.

The intraday drop so far has been more than 6%, the biggest daily drop since last Wednesday, the day after the election, when shares took a beating on the election results.

 

iv) Swamp commentaries

Jeffrey Toobin stiffed by the New Yorker

(zerohedge)

Toobin Fired From New Yorker For Jerking Off During Zoom Call

 
 

Journalist Jeffrey Toobin, who was suspended by CNN and The New Yorker after he was caught masturbating on a zoom call last month in full view of colleagues, has been fired by the latter publication.

Toobin confirmed his firing in a Wednesday tweet, writing “I was fired today by @NewYorker after 27 years as a Staff Writer.”

In a memo to Condé Nast employees, executive Stan Duncan wrote: “I am writing to share with you that our investigation regarding Jeffrey Toobin is complete, and as a result, he is no longer affiliated with our company.”

“I want to assure everyone that we take workplace matters seriously. We are committed to fostering an environment where everyone feels respected and upholds our standards of conduct.”

Meanwhile, a New Yorker spokesperson told The Hill: “As a result of our investigation, Jeffrey Toobin is no longer affiliated with the company.”

After originally reporting on October 19 that Toobin had ‘exposed himself’ during the zoom call, Vice issued a late day correction to note that Toobin was actively jerking off.

“This piece has been updated with more detail about the call and the headline has been updated to reflect that Toobin was masturbating.” –Vice

Toobin told Vice that he had “made an embarrassingly stupid mistake, believing I was off camera,” before apologizing to his wife, family, friends and co-workers.”

I believed I was not visible on Zoom,” he added.

CNN, meanwhile, has yet to take action against Toobin, who will quite literally never live this down.

END

 

Watch this:  De Blasio’s daughter in a verbal slip up as she claims Biden was “able to steal” the 2020 election
(Watson/Summit News)

De Blasio’s Daughter In Verbal Slip Up, Claims Biden “Was Able To Steal” Election

 

Authored by Paul Joseph Watson via Summit News,

Mayor De Blasio’s daughter was caught in an embarrassing on camera verbal slip up when she told an interviewer that Joe Biden “was able to steal” the election.

There were in fact two major gaffes, with Chiara de Blasio initially telling the interviewer how happy she was that “now we have the first black Asian female president in office elected,” referring to Kamala Harris.

Harris would of course become Vice President if Biden’s win is certified, although many have suggested that she could soon find herself in the Oval Office given Biden’s declining cognitive abilities.

De Blasio followed up by saying that Biden stole the election, before correcting herself.

“Joe Biden was able to steal…steal no, was able to win,” she said before apologizing.

Given what happened, maybe de Blasio was right the first time.

The 25-year-old has become a prominent left-wing activist and she was arrested back in May during a George Floyd protest.

*  *  *

end

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

Biden Covid advisor says US lockdown of 4 to 6 weeks could control pandemic and revive economy

    Dr. Michael Osterholm, a coronavirus advisor to President-elect Joe Biden, said a nationwide lockdown would help bring the virus under control in the U.S.

    He said the government could borrow enough money to pay for a package that would cover lost income for individuals and governments during a shutdown.

    “We could really watch ourselves cruising into the vaccine availability in the first and second quarter of next year while bringing back the economy long before that,” he said…

https://www.cnbc.com/2020/11/11/biden-covid-advisor-says-us-lockdown-of-4-to-6-weeks-could-control-pandemic-and-revive-economy.html

Trump Campaign Files Suit in Michigan, Citing Irregularities, Incompetence, and Unlawful Vote Counting https://www.donaldjtrump.com/media/trump-campaign-files-suit-in-michigan-citing-irregularities-incompetence-and-unlawful-vote-counting/

 

@KDKA: SPECIAL MEETING: The Allegheny County Board of Elections has voted to count more than 2,000 ballots without dateshttps://t.co/18vBHDrKgQ

 

In charge of Philly elections, commissioner lost notary license for violating the law

City Commissioners Chairwoman Lisa Marie Deeley, who is facing election in the May primary, quietly lost her notary license last year for failing to check the identification of a woman whose signature she notarized…  https://t.co/Uc2IQIF3RE

 

Ex-Fox producer @kylenabecker: DOMINION. “This image-cast evolution voting machine has the physical ability to mark votes onto the ballot after the last time the voter sees the ballot… and that’s a DISASTER.” —  Princeton comp. science prof Andrew Appel shreds Dominion voting systems. America was warned   https://twitter.com/kylenabecker/status/1326570329238626305

 

An Election Security Disaster – Hybrid Voting Machines (Part 1: Dominion vs. the Experts) 2019

The machine is a combination balloting marking device and optical scanner… [Prof. Appel]: If the machine is hacked, then they can install software that marks votes on the ballot after the voter last saw it… The whole security trail is compromised… Any voting machine can be hackes…”  https://www.youtube.com/watch?v=xQmfLDeghpI

 

@PlaysTrumpCard: Dominion voting systems is set up to make it easy to change & delete results. One resist kid with admin access in a warehouse full of machines can enter whatever result, delete previous results, etc. 38x delete is mentioned in manual. It’s absolutely outrageous.  https://twitter.com/PlaysTrumpCard/status/1326508337140207619

     When the “results” your Dominion voting machine aren’t what you’d like to see, you can swap in manual entries, delete files, all kinds of fun stuff. 8.2 of the User manual interesting, but 8.3 is

https://twitter.com/PlaysTrumpCard/status/1326526821735813123

 

@CodeMonkeyZ: reading the 300+ page Dominion Voting Democracy Suite user manual.

    There is a setting to throw out votes for specific individual contests if you vote for a whole party…

Check this out. AES128 algorithm is ok if done right. Let’s check if they did it right: “all participants in the process use the same encryption keys.” What?” all participants…””…use the same encryption keys.”

    So this means that any participant who loses their USB key which stores the encryption key has then destroyed the integrity of the election in that district. Someone mind telling me what was stolen in Philly again? Remember the USB drives stolen in Philly? Those USB drives were admin access devices to enter the configuration and debug screens of the voting machines. With those stolen drives, someone could potentially change, purge, or inject ballots with impunity

   Didn’t Pennsylvania take a vote counting break during the night of the election? People hypothesized that they were spending those hours to make hundreds of thousands of new ballots. A near impossible feat.  All they needed to do was change the settings on all of the vote tabulator machines…I don’t know if there are any change logs on those machines, that’s what I would look for if I was an investigator looking into voter fraud…

 

Laptop, Encrypted USB Drives Stolen From Philadelphia Election Machine Warehouse: Official

https://philadelphia.cbslocal.com/2020/09/30/laptop-encrypted-usb-drives-stolen-from-philadelphia-election-machine-warehouse-officials/

 

Dr. SHIVA Ayyadurai, MIT PhD. Inventor of Email @va_shiva: Mr. President @realDonaldTrump & Mr. Biden @JoeBiden: Our analysis in Michigan indicates a computer algorithm was likely used to transfer 69,000 votes. We are willing to subject our results to a critical & transparent review with your representatives. Are you open? – Dr. Shiva

 

RNC Chair Says 11,000 People Have Come Forward With Voter Fraud Claim

https://www.newsweek.com/rnc-chair-says-11000-people-have-come-forward-voter-fraud-claims-1546546

 

WSJ: Georgia Republican Secretary of State Brad Raffensperger ordered all of the state’s 159 counties to conduct a hand recount and audit of all votes cast in the presidential race, an extraordinary step in an election with unprecedented high turnout…

https://www.wsj.com/articles/georgia-orders-hand-recount-in-presidential-race-11605111529

 

@realDonaldTrump: You are looking at BALLOTS! Is this what our Country has come to?

https://twitter.com/realDonaldTrump/status/1326630618831130624

 

Ex-Gov of Missouri @EricGreitens: @RudyGiuliani declined comment when asked if he had in fact been in talks with U.S. intelligence officials on the election irregularities.  Confirmed sworn affidavit from source inside Dominion Systems citing 100K fake ballots, all pro-Biden.

https://twitter.com/EricGreitens/status/1326676081848541184

 

@charliekirk11: I wonder why “President-Elect” Joe Biden called a lid at 12:17 PM today… right as Georgia announces a hand recount of their votes?

 

@TrumpWarRoom: Joe Biden promised he would NOT declare victory until all the votes were counted and the election was independently certified. Biden lied. He has not been certified as the winner, and yet he has prematurely declared victory. His word is useless. https://twitter.com/TrumpWarRoom/status/1326611951741526018?s=09

 

Top US Pollster and Statistician Richard Baris — People’s Pundit — SUSPENDED from Twitter for Reporting on Disputed Election — Political ‘WrongThink’ Not Allowed

https://www.thegatewaypundit.com/2020/11/top-us-pollster-statistician-richard-baris-peoples-pundit-suspended-twitter-reporting-disputed-election-political-wrongthink-not-allowed/

 

De Blasio’s Daughter in Verbal Slip Up, Claims Biden “Was Able To Steal” Election

“Joe Biden was able to steal…steal no, was able to win,” she said before apologizing…

https://www.zerohedge.com/political/de-blasios-daughter-verbal-slip-claims-biden-was-able-steal-election

 

‘We have a list’: Anti-Trump activists signal coming punishment for Trump associates, supporters

“All of them should pay a brutal price,” said 2008 McCain campaign staffer Steve Schmidt.

https://justthenews.com/politics-policy/we-have-list-anti-trump-activists-signal-coming-punishment-trump-associates

 

The USA of our parents and grandparents no longer exists.

 

Illinois Sees Largest Increase in New Unemployment Claims in the Nation

As all areas of Illinois begin implementing new COVID-19 mitigation measures and Gov. J.B. Pritzker begins restricting economic activity again, more than 76,338 Illinoisans filed new unemployment claims. That number is 23,200 more than the week ending Oct. 24…

https://www.illinoispolicy.org/illinois-sees-largest-increase-in-new-unemployment-claims-in-the-nation/

 

Newsmax’s @EmeraldRobinson: Let me tell you how big the exodus from @FoxNews has become. Fox has hired a crisis management team to handle PR for their ratings crisis. #Foxit is real & it’s spectacular.

 

@JonathanTurley: (SCOTUS Chief Justice) Roberts effectively acknowledged that he was a chump in accepting the arguments on the individual mandate eight years ago. For years, Roberts has been on a collision course with himself, and yesterday he had a one-person pileup…Roberts could create a curious precedent: he saved the ACA in 2012 by declaring the individual mandate essential to the survival of Act and then may save the ACA again in 2020 by declaring that the individual mandate is not essential to the survival of the Act. If that seems confusing, welcome to the world of Chief Justice Roberts on the ACA… https://jonathanturley.org/2020/11/11/roberts-one-person-pile-up-the-chief-justice-prepares-to-take-the-bait-and-then-the-switch-on-the-aca/

 

It is a double pleasure to deceive the deceiver.” — Machiavelli

 

Well that is all for today

I will see you FRIDAY night.

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