NOV 17//USA CONTESTED ELECTION GETTING HOTTER//LOTS OF NEWS OF THE FRAUDULENT DOMINION VOTING SYSTEMS//GOLD DOWN $3.00 TO $1886.02//SILVER DOWN 14 CENTS TO $24.58//SLIGHT INCREASE IN GOLD TONNAGE UP TO 17.822 TONNES//CORONAVIRUS UPDATE: GLOBE//MEGA SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1886.20 DOWN  $3.00   The quote is London spot price

Silver:$$24.58  DOWN $0.14   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1878.00  LONDON SPOT  4:30 pm

ii)SILVER:  $24.48//LONDON SPOT  4:30 pm

these people voted for Biden/Harris ticket!

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TONIGHT,  in the USA section, I have  continued to highlight the major stories which happened last night and today. The USA election is one massive fraud.

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CLOSING FUTURES PRICES:  KEY MONTHS

DEC. GOLD  $1885.00   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $1.20/ BACKWARD   // GOOD FOR EFP ISSUANCE//GOOD FOR EUROPEANS TO BUY COMEX GOLD///

FEB GOLD:  1891.50 CLOSE 1:30 PM  SPREAD SPOT/FUTURE:  $5.30 CONTANGO//70 CENTS BELOW NORMAL CONTANGO

CLOSING SILVER FUTURE MONTH

SILVER DECEMBER  CLOSE:     $24.65  1:30  PM SPREAD SPOT/FUTURE DEC.       :   8  CENTS PER OZ  CONTANGO (   8 CENTS ABOVE NORMAL CONTANGO

SILVER MARCH CLOSE:  24.77/SPREAD SPOT/FUTURE:  A   29 CENTS

17 CENTS ABOVE NORMAL CONTANGO

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COMEX DATA

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

receiving today: 0/1

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,887.300000000 USD
INTENT DATE: 11/16/2020 DELIVERY DATE: 11/18/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
709 C BARCLAYS 1
905 C ADM 1
____________________________________________________________________________________________

TOTAL: 1 1
MONTH TO DATE: 5,681

issued:0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 1 NOTICE(S) FOR 100 OZ  (0.00311 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  5681 NOTICES FOR 568,100 OZ  (17.6702 tonnes) 

SILVER//NOV CONTRACT

0 NOTICE(S) FILED TODAY FOR nil  OZ/

total number of notices filed so far this month: 650 for 3,250,000  oz

BITCOIN MORNING QUOTE  $17,012   UP 360

BITCOIN AFTERNOON QUOTE.  :$17,681  UP 969 DOLLARS .

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GLD AND SLV INVENTORIES:

WITH GOLD DOWN $3.00 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

A BIG CHANGES IN GOLD INVENTORY AT THE GLD//

A WITHDRAWAL OF 2.92 TONNES OF GOLD FROM THE GLD///

INVENTORY RESTS AT:

GLD: 1,231.40 TONNES OF GOLD//

WITH SILVER DOWN 14 CENTS TODAY: AND WITH NO SILVER AROUND:

NO CHANGE IN SILVER INVENTORY AT THE SLV//

INVENTORY RESTS AT

SLV: 568.162  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 SMALL SIZED 371 CONTRACTS FROM 160,648 UP TO 161,019, AND CLOSER TO  OUR NEW RECORD OF 244,710, (FEB 25/2020. THE GAIN IN OI OCCURRED WITH OUR RISE  OF $0.05 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO SOME BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A SMALL EXCHANGE FOR PHYSICAL. WE  HAD ZERO LONG LIQUIDATION, AND A ZERO INCREASE IN  STANDING AT THE COMEX FOR NOV.  WE HAD AN VERY STRONG NET GAIN IN OUR TWO EXCHANGES OF 750 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:  304, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  304, MARCH 0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  304 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.

MONDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE $.05) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS WE HAD A VERY MALL NET GAIN IN OUR TWO EXCHANGES (675 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 ZERO GAIN  IN SILVER OZ STANDING  FOR NOV, iii) SMALL 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:

9531 CONTRACTS (FOR 12 TRADING DAY(S) TOTAL 9531 CONTRACTS) OR 47.655 MILLION OZ: (AVERAGE PER DAY: 794 CONTRACTS OR 3.9713 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF NOV: 47.655 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 6.88% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,576.94 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                    47.655 MILLION OZ (STARTING TO INCREASE AGAIN)

RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 446, WITH OUR  $0.05 RISE IN SILVER PRICING AT THE COMEX ///MONDAY.…THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 304 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE GAINED A FAIR SIZED 750 OI CONTRACTSON THE TWO EXCHANGES (WITH OUR  $0.05 RISE IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 304 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A SMALL SIZED INCREASE OF 446 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.05 RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $24.72 // 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. 0.796 BILLION OZ TO BE EXACT or 114% of annual global silver production (ex Russia & ex China).

FOR THE NEW NOV  DELIVERY MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR nil OZ OF SILVER.

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

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 1898 CONTRACTS TO 554,995 AND FURTHER FROM OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED LOSS IN COMEX OI OCCURRED WITH OUR  GAIN IN PRICE  OF $2.20 /// COMEX GOLD TRADING//MONDAY.WE  HAD SOME BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AND ANOTHER  GAIN IN GOLD OUNCES STANDING AT THE COMEX….THIS ALL HAPPENED WITH OUR GAIN IN PRICE OF $2.20. 

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

WE HAD A SMALL SIZED LOSS OF 785 CONTRACTS  (2.44 TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A SMALL SIZED 1113 CONTRACTS:

CONTRACT .  DEC: 1113; FEB: 0  ALL OTHER MONTHS ZERO//TOTAL: 1113.  The NEW COMEX OI for the gold complex rests at 554,995. 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 SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 785 CONTRACTS: 1898 CONTRACTS DECREASED AT THE COMEX AND 1113 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS OF 785 CONTRACTS OR 2.44 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1113) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI  (1898 OI): TOTAL LOSS IN THE TWO EXCHANGES: 785 CONTRACTS. WE NO DOUBT HAD 1 ) SOME BANKER SHORT COVERING AND CONSIDERABLE ALGO SHORT COVERING ,2.)ANOTHER INCREASE IN OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT NOV. MONTH TO 17.822 TONNES3)  ZERO LONG LIQUIDATION ;4) SMALL COMEX OI LOSS AND 5) SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS OCCURRED WITH  OUR  GAIN IN GOLD PRICE TRADING//MONDAY//$2.20.

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 : 34,557 CONTRACTS OR 3,455,700 oz OR 107.48 TONNES (12 TRADING DAY(S) AND THUS AVERAGING: 2879 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 12 TRADING DAY(S) IN  TONNES: 107.48  TONNES

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

THUS EFP TRANSFERS REPRESENTS 107.48/3550 x 100% TONNES =3.02% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,785.38 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:                        125.78 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 SMALL SIZED 371 CONTRACTS FROM 160,648 UP TO 161,019 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 SMALL 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 ZERO INCREASE IN  STANDING  FOR SILVER AT THE COMEX FOR NOV., AND 4) ZERO LONG LIQUIDATION 

EFP ISSUANCE 304 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 304 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 304 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 371 CONTRACTS TO THE 304 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A FAIR SIZED GAIN OF 675 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 3.75 MILLION  OZ, OCCURRED WITH OUR $0.05 GAIN IN PRICE///

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

(report Harvey)

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 7.07 PTS OR .21%   //Hang Sang CLOSED UP 33.42 PTS OR .13%    /The Nikkei closed UP 107.69 POINTS OR 0.42%//Australia’s all ordinaires CLOSED UP 0.16%

/Chinese yuan (ONSHORE) close UP AT 6.5510 /Oil UP TO 41.18 dollars per barrel for WTI and 43.70 for Brent. Stocks in Europe OPENED ALL RED EXCEPT ITALY//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5510. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5540 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST  FELL BY BY A SMALL SIZED 1898 CONTRACTS TO 554,995 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 SMALLISH  COMEX DECREASE OCCURRED DESPITE OUR  RISE OF $2.20 IN GOLD PRICING MONDAY’S COMEX TRADING/). WE ALSO HAD A SMALL EFP ISSUANCE (1113 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 17.822 TONNES)//NOV. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED A SMALL SIZED LOSS ON OUR TWO EXCHANGES OF 785 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 1113 EFP CONTRACTS WERE ISSUED:     DEC 1113; FEB// ’21 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1113  CONTRACTS.

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

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

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 785 TOTAL CONTRACTS IN THAT 1113 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED 1898 COMEX CONTRACTS.. THE BIG NEWS IS THE STRONG LEVEL OF NOV 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((17.822 TONNE) AS NOVEMBER IS A NON ACTIVE AND GENERALLY A VERY POOR DELIVERY MONTH

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $2.20).  AND, THEY WERE   UNSUCCESSFUL IN FLEECING ANY LONGS. AS MENTIONED ABOVE THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED   2.44 TONNES,

NET LOSS ON THE TWO EXCHANGES :: 785 CONTRACTS OR 78500 OZ OR  2.44  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:  554,995 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 55.49 MILLION OZ/32,150 OZ PER TONNE =  1725 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1725/2200 OR 78.45% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY: 163,279 contracts// volume poor////they are bailing out of gold comex faster than fox news viewers.

CONFIRMED COMEX VOL. FOR YESTERDAY:  263,819 contracts//  volume:  poor

/most of our traders have left for London

NOV 17 /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
5163.675 oz
HSBC
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz 0
OZ
No of oz served (contracts) today
1 notice(s)
 100 OZ
(00311 TONNES)
No of oz to be served (notices)
49 contracts
(4900 oz)
44.31 TONNES
Total monthly oz gold served (contracts) so far this month
5681 notices
568,100 OZ
17.6702 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 1 gold withdrawals from the customer account:

i) Out of HSBC: 5163.675

total withdrawals:  5163.675 oz

We had 0  kilobar transactions  +

ADJUSTMENTS: 0 // 

The front month of NOV registered a total of 50 contracts for a LOSS of  265 contracts.  We had 268 notices filed on Monday so we gained 3 contracts or 300 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 MUCH LARGER 15,481 contracts down to 255,976 contracts.  We will be watching December closely from this day forth. January GAINED 14 contracts to stand at 3297 contracts. FEBRUARY gained a STRONG 10,728 contracts UP TO 203,436. WE  ARE STILL WITNESSING THE ALGOS LEAVE THE DECEMBER ARENA. WE AWAIT TO SEE HOW MANY EUROPEAN LONGS REMAIN AND THESE GUYS WILL TAKE DELIVERY OF GOLD.

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR NOVEMBER (17.822 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  1 notice(s) filed today for  100 oz OR 0.00311 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 1  contract(s) of which  0  notices were stopped (received) by j.P. Morgan dealer and  0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notices 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 (5681) x 100 oz , to which we add the difference between the open interest for the front month of  NOV (50 CONTRACTS ) minus the number of notices served upon today (1 x 100 oz per contract) equals 573,000 OZ OR 17.822 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 (5681, x 100 oz +50 OI) for the front month minus the number of notices served upon today (1) x 100 oz which equals 573,000 oz standing OR 17.8200 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 3 contracts or an additional 400 oz will search out metal on this side of the pond.

NEW PLEDGED GOLD:  BRINKS

606,360.007, oz NOW PLEDGED  SEPT 15.2020/HSBC  18.860 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:  1,604,896.491 oz                                     49.919 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 489.66 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 17.822 tonnes

CALCULATION OF REGISTERED GOLD THAT CAN BE SETTLED UPON:

total registered or dealer  17,347,766.616 oz or 539.58 tonnes
total weight of pledged:  1,604,896.491 oz or 49.919 tonnes
thus:
registered gold that can be used to settle upon: 15,742,870.0  (489,66 tonnes)
true registered gold  (total registered – pledged tonnes  15,742,870.0 (489.66 tonnes)
total eligible gold:  19,964,397.815 oz (620.97 tonnes)

total registered, pledged  and eligible (customer) gold  37,312,164.431 oz 1,160.56 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1034.22 tonnes

end

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

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

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

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

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

THE DATA AND GRAPHS:

THE GOLD COMEX SEEMS TO BE  UNDER SEVERE ASSAULT FOR PHYSICAL

END

NOV 17/2020

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
599,315.350 oz
CNT
Deposits to the Dealer Inventory
 nil oz
Deposits to the Customer Inventory
596,834.905 oz
int. Delaware
Delaware
No of oz served today (contracts)
0
CONTRACT(S)
nil OZ)
No of oz to be served (notices)
117 contracts
 585,000 oz)
Total monthly oz silver served (contracts)  650 contracts

3,250,000 oz)

Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
We had 0 deposits into the dealer:

total dealer deposits: nil      oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

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

i)into  Delaware: 1917.495 oz

ii) Into Int. Delaware:  594,857.410 oz

JPMorgan now has 190.10 million oz of  total silver inventory or 49.60% of all official comex silver. (190.10 million/383.246 million

total customer deposits today:  596,834.905   oz

we had 1 withdrawals:

i)Out of CNT:599,315.350

total withdrawals; 599.315.350    oz

We had 0 adjustment

Total dealer(registered) silver: 143.364 million oz

total registered and eligible silver:  383.246 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

November saw a LOSS OF 0 notices remaining at  117 contracts. We had 0 notices filed on MONDAY so we gained 0 contracts or NIL additional silver oz will stand in this non active delivery month of November.

December saw a LOSS of 5116 contracts DOWN to 73,978 contracts. January saw a GAIN of 13 contracts UP to 205. MARCH  gained 5327 contracts up to 72,164.

The total number of notices filed today for the NOV 2020. contract month is represented by 0 contract(s) FOR nil oz

To calculate the number of silver ounces that will stand for delivery in NOV we take the total number of notices filed for the month so far at 650 x 5,000 oz = 3,250,000 oz to which we add the difference between the open interest for the front month of OCT(117) and the number of notices served upon today 0x (5000 oz) equals the number of ounces standing.

Thus the NOV standings for silver for the NOV/2019 contract month: 650 (notices served so far) x 5000 oz + OI for front month of NOV( 117)- number of notices served upon today (0) 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 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND FOR DELIVERY AT THE COMEX AND FORGO ANY FIAT BONUS AS THEY SEARCH FOR METAL ON THIS SIDE OF THE POND VS LONDON. SEEMS THAT WE HAVE A WHALE COMING AFTER COMEX SILVER 

TODAY’S ESTIMATED SILVER VOLUME :62,757 CONTRACTS // volume   fair////

FOR YESTERDAY 94,597  ,CONFIRMED VOLUME//  very strong//

YESTERDAY’S CONFIRMED VOLUME OF 94,597 CONTRACTS EQUATES to 0.472 billion  OZ 67.50% 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- 3.85% ((Nov 17/2020)

2. Sprott gold fund (PHYS): premium to NAV  FALLS TO -1.06% to NAV:   (NOV17/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/3.85%

(courtesy Sprott/GATA

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

NAV 19.32 TRADING 18.68///NEGATIVE 3.33

END

And now the Gold inventory at the GLD

NOV 17/WITH GOLD DOWN 3 DOLLARS TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.92 TONNES FROM THE GLD////INVENTORY RESTS AT 1231.40 TONNES

NOV 16/WITH GOLD UP $2.20 TODAY/A HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 5.25 TONNES FROM THE GLD////INVENTORY RESTS AT 1234.32 TONNES

NOV 13/WITH GOLD UP $11.90 TODAY//A HUGE CHANGE IN GOLDINVENTORY AT THE GLD; A WITHDRAWAL OF 1.17 TONNES FROM THE GLD////INVENTORY RESTS AT 1239.57 TONNES

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at

NOV17/ GLD INVENTORY 1234.32 tonnes

LAST;  947 TRADING DAYS:   +290.85 TONNES HAVE BEEN ADDED THE GLD

LAST 847 TRADING DAYS// +468.43  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory

NOV 17/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 568.162 MILLION OZ//

NOV 16/WITH SILVER UP $.05 TODAY//A HUGE  CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDDRAWAL OF 1.209 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 568.162 MILLION OZ//

NOV 13/WITH SILVER UP 43 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV” A WITHDRAWAL OF 2.88 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 569.371 MILLION OZ.

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

NOV 17.2020:

SLV INVENTORY RESTS TONIGHT AT

568.162 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

Von Greyerz is correct! Gold ETF’s are relying on metal borrowed from central banks

(Von Greyerz/Kingworldnews/GATA)

Gold ETFs rely on metal borrowed from central banks, von Greyerz tells KWN

 Section: 

10:50a ET Monday, November 16, 2020

Dear Friend of GATA and Gold:

Echoing suspicion raised by Bullion Star researcher Ronan Manly, Swiss gold fund manager Egon von Greyerz tells King World News that gold exchange-traded funds may not have much gold that isn’t borrowed from central banks.

Von Greyerz says: “The ETF market is primarily a paper market or at best a market which consists of gold leased from central banks. When there is major buying of the biggest gold ETF, GLD, the Swiss refiners seldom see an increase in sales. Instead the bullion banks are lending central bank gold to the ETF.

“For that reason, anyone who buys gold for wealth preservation should never buy a gold ETF but real physical gold.”

Von Greyerz’s comments are posted at KWN here:

https://kingworldnews.com/greyerz-silver-will-have-to-hit-950-to-equal-t…

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

END

Endeavour mines buys Teranga gold worth 1.86 billion dollars

(Bloomberg/GATA)

Endeavour to buy Teranga Gold in deal worth $1.86 billion

 Section: 

By Thomas Biesheuvel
Bloomberg News
Monday, November 16, 2020

Endeavour Mining Corp., the acquisitive gold producer backed by Egyptian billionaire Naguib Sawiris, agreed to buy Teranga Gold Corp. in the latest deal to reshape the sector.

After Barrick Gold Corp. and Newmont Corp. created behemoths two years ago that dwarf the rest of the industry, other gold miners are trying to consolidate to remain relevant to shareholders. Helped by record gold prices, that has led to a flurry of deals across the sector as smaller producers beef up their scale.

Endeavour said last week it was discussing a “merger of equals-style” deal with Teranga after the talks were first reported by Bloomberg News. Endeavour is offering a 5.1% premium to Teranga’s closing price on Friday, valuing its equity at C$2.44 billion ($1.86 billion), according to Bloomberg calculations. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-11-16/endeavour-mining-to-a…

END

Chris Powell..a must read on the silver market

(Chris Powell/GATA)

Sure, Morgan long has been running silver — but for whom?

 Section: 

9:09p ET Monday, November 16, 2020

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler marvels today at how 20% of the world’s known thousand-ounce silver bars managed to move this year into the inventories of silver exchange-traded funds and Comex vaults without exploding the metal’s price.

Butler dismisses the possibility that the inventory data is fraudulent or misleading, though there’s no denying that central bank gold inventory data is fraudulent and misleading, since the secret March 1999 staff report of the International Monetary Fund acknowledges as much:

http://www.gata.org/node/12016

Of course central banks don’t intervene in the silver market as they do in the gold market — or might they?

Butler long has accused JPMorganChase of manipulating the silver market, and the bank this year confessed to manipulating not just the silver futures market but the gold and treasury bond futures markets as well and accepted penalties totaling $920 million:

https://cftc.gov/PressRoom/PressReleases/8260-20

But the manipulation charges against JPMorgan involved “spoofing,” the rapid placing and withdrawal of futures trading orders meant to deceive other traders. What if that “spoofing” was just a sideshow of JPMorgan’s underlying enterprise in silver — say, the rebuilding of a silver stockpile for the U.S. government, that stockpile having been exhausted 50 or so years ago?

If JPMorgan isn’t running silver for the U.S. government, or maybe for another government, why has the bank achieved such a dominant position in that market?

After all, both JPMorgan CEO Jamie Dimon and the former chief of the bank’s commodities desk, Blythe Masters, are on the record asserting that the bank trades the monetary metals only for “clients” and not for its own accounts.
Eight years ago Masters gave CNBC an interview on that very point —

http://www.gata.org/node/11216

https://www.youtube.com/watch?v=gc9Me4qFZYo&t=272s

— but unfortunately the CNBC interviewer, shamelessly buttering up one of the supposed “masters” of the universe, neglected to ask her if those clients included governments and central banks, which are eligible for volume discounts on their surreptitious trading in all major U.S. commodity and financial futures contracts on CME Group exchanges:

http://www.gata.org/node/18925

That CNBC interview with Masters, still available at the YouTube link above, is especially delightful for her chuckling at the 3:55 mark when she is asked if JPMorgan manipulates the metals markets. “That’s not part of our business model,” Masters replies. “It would be wrong and we don’t do it.”

So what just happened to that $920 million?

Good thing CNBC doesn’t put investment bank officials under oath.

Butler concurs again today that JPMorgan is running the silver market. “The minute that JPMorgan decides not to assist the eight remaining big shorts,” Butler writes, “is the same minute the price explodes.”

But the bigger question may be: Whom is JPMorgan running silver for?

Butler’s commentary is headlined “The Most Remarkable Statistic in a Most Remarkable Year” and it’s posted at GoldSeek’s companion site, SilverSeek, here:

https://silverseek.com/article/most-remarkable-statistic-most-remarkable…

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

END

iii) Other physical stories:

Bitcoin Surges Above $17,000 – “Mainstream Adoption Is Rising”

Just as we saw last week, this week’s vaccine news has prompted a positive response across cyrptocurrencies with Bitcoin soaring above $17,000…

Source: Bloomberg

…for the first time since Jan 2018.

Source: Bloomberg

And as CoinTelegraph’s William Suberg reports, Bitcoin hitting its all-time highs of $20,000 again is not the end but the start of its explosion to a $1 trillion asset, a senior Bloomberg analyst said.

image courtesy of CoinTelegraph

In a tweet on Monday, as BTC/USD reclaimed $16,000, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, delivered a fresh bullish forecast for the largest cryptocurrency.

Bloomberg Intelligence: BTC will keep rising in 2021

Bitcoin saw lower levels over the weekend, briefly dipping to $15,800 before conspicuously rising on Monday to see highs of $16,400 at press time.

“$20,000 #Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap — The digital version of #gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021,” McGlone wrote.

“Mainstream adoption is rising.”

Bitcoin market cap vs. price historical chart. Source: Mike McGlone/ Twitter

An accompanying chart described a $1 trillion market capitalization as the “next big resistance” for Bitcoin.

McGlone is known for his increasingly positive Bitcoin outlooks. As Cointelegraph reported, he argued in September that Bitcoin should, in fact, trade at $15,000 based on active addresses, something which soon became reality.

Brandt signals bull run still in early stages

McGlone is far from the only markets veteran doubling down on the lucrative prospects for Bitcoin in its current bull run.

On Monday, trader Peter Brandt suggested that based on previous bull runs from 2013 and 2017, the current price performance was only the start of the cycle.

“During the 2015–2017 bull market in Bitcoin $BTC, there were 9 significant corrections with the following averages: 37% decline from high to low, 14 weeks from one ATH to the next ATH,” he explained.

“Since the early Sep low there have been two 10% corrections.”

Peter Brandt’s highlighted Bitcoin bull run characteristics chart. Source: Peter Brandt/ Twitter

Statistician Willy Woo likewise believes that there is far more mileage left in the current uptrend. His argument was based on Bitcoin’s relative strength index (RSI), which he described as “just warming up.”

Beyond Bitcoin circles, a Citibank market analyst this week announced that he foresaw a $318,000 Bitcoin price by December next year.

end

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

71671201

Spencer Platt | Getty Images

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

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

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

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

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

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

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

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

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

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

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

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

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

end

March 4.2019

Parker City News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kovel declined to comment.

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

-END-

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

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

… 

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

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

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

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

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

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

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

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

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

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

* * *

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

i) Chinese yuan vs USA dollar/CLOSED UP AT 6.5510 /

//OFFSHORE YUAN:  6.5540   /shanghai bourse CLOSED UP 7.07 PTS OR .21

HANG SANG CLOSED UP 33.42 POINTS OR .13%

2. Nikkei closed UP 107.69 POINTS OR 0.42%

3. Europe stocks OPENED ALL RED EXCEPT ITALY/

USA dollar index DOWN TO 92.39/Euro FALLS TO 1.1868

3b Japan 10 year bond yield: REMAINS AT. +.02/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 107.85/ 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:: 41.18 and Brent: 43.70

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 -.55%/Italian 10 yr bond yield DOWN to 0.64% /SPAIN 10 YR BOND YIELD DOWN TO 0.09%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.29: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.68

3k Gold at $1887.40 silver at: 24.65   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 12/100 in roubles/dollar) 76.27

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 104.25 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning .9110 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0813 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 0.55%

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 0.885% early this morning. Thirty year rate at 1.638%

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

6.  TURKISH LIRA:  UP  TO 7.76..

Global Stocks Slide As Attention Turns To Global Economic Shutdowns

Monday’s global stock rally unleashed by a 2nd round of covid vaccine hopes this time courtesy of Moderna, and which pushed the Dow and all major indexes to new record highs, fizzled on Tuesday as investors shifted focus back to the accelerated near-term spread of the virus and the creeping shutdowns which are certain to hammer the US economy. S&P futures dropped 0.5% or 20 points as New Jersey, California and Iowa imposed fresh restrictions as the number of new US cases hit a record, and threatened to worsen as the colder weather sets in. Nasdaq 100 futures were boosted by yet another reversal in the reflation trade, as well as a jump in Tesla on the prospect of the electric-car maker’s shares joining the S&P 500.

Curiously, the same 3,600 “gamma wall” level which we warned yesterday would complicate a major push higher in the S&P ahead of op-ex, is now serving as a buffer to the downside, and will limit losses. Sure enough, the Emini session low so far today has been… 3,600.

S&P 500 futures slid a day after the underlying benchmark closed at an all-time high on news that Moderna’s vaccine was shown to be 94.5% effective. Drug retailers such as Walgreens Boots Alliance tumbled 10%, while CVS Health Corp fell 6.4% after Amazon launched an online pharmacy for delivering prescription medications in the U.S.

“We might be transitioning from a defensive bull market to a more cyclically offensive one but more clarity is required in terms of when social mobility will normalize,” said Chris Iggo, chief investment officer of core investments at Axa Investment Managers. “The euphoria created by the presidential election result and the vaccine announcement will give way to a more sober analysis of how long and smooth the road to recovery will be.”

Not everything was red: Tesla soared 12.4% premarket in anticipation of a $51 billion trade by index funds adjusting their holdings when the company is added to the benchmark S&P 500 in December. At $400 billion, Tesla’s market capitalization is a hundred times that of the S&P’s smaller companies, according to Refinitiv data, making it the biggest ever addition to the index.

In Europe, the Stoxx 600 Index slipped 0.4% by 7:45 am ET, following a sharp drop to session lows just after 6am, with travel shares and banks leading the decline. S&P 500 futures pointed to a small drop at the open, the 10-year Treasury yield was at 0.895%, oil held over $41 a barrel and gold was broadly unchanged.

Earlier in the session, MSCI Asia Pacific Index added 0.2% led by the finance and energy sectors, while Japan’s Topix index closed 0.2% higher. Most Asian markets were up, with Singapore’s Straits Times Index advancing 1.1% and Indonesia’s Jakarta Composite rising 0.6%, although China’s Shanghai Composite slid 0.2%. Trading volume for MSCI Asia Pacific Index members was 15% above the monthly average for this time of the day. The Topix added 0.2%, with MUFG and Tokio Marine contributing the most to the move. The Shanghai Composite Index retreated 0.2%, driven by Kweichow Moutai.

In FX, the pound led gains among G-10 currencies on optimism of a Brexit breakthrough, rising for a third day, followed by the Swiss franc and Japanese yen. The Bloomberg Dollar Spot Index fell for a third consecutive session, to touch more than a one-week low, as the greenback fell against almost all Group-of-10 peers; the euro advanced after briefly dipping below $1.1850. Yield curves in Australia and New Zealand bear steepened amid speculation that funds may be shifting from these markets to Treasuries. China’s yuan strengthened to the highest level since June 2018, fueled by optimism over the country’s economic recovery and its interest-rate premium over the rest of the world.

The yuan strengthened to the highest level since June 2018, as it was on pace to gain for a fourth session while the dollar weakened. The Chinese currency traded onshore rose as much as 0.5% to 6.5500 a dollar on Tuesday. The yuan is also trading at its highest in more than two years against a basket of trading partners’ currencies. The yuan has been boosted by investor optimism in the economy’s performance during the virus pandemic.

In rates, Treasury futures held small gains as the U.S. trading day began after erasing earlier declines, leaving yields richer by about 2bp at long end of the curve. Yields were little changed at front end of the curve, flattening 2s10s, and 5s30s by 1bp-2bp; 10-year around 0.89% is richer by 1.8bp, outperforming bunds and gilts by 1bp to 1.5bp. The rates market is underpinned by weakness in S&P 500 futures following Monday’s equity rally. Deal flow is in focus with Saudi Aramco setting initial spread guidance on a five-tranche jumbo bond sale.

In commodities, WTI crude oil hovered around $41 a barrel. Gold was modestly higher, trading at $1,889/oz last.

On today’s calendar, data highlights include October’s retail sales, industrial production and capacity utilisation, as well as the NAHB housing market index for November. Earnings releases include Walmart and Home Depot. Fed Chair Jerome Powell speaks while four regional Fed presidents take part in a virtual conference on racism and the economy. The Senate will hold a procedural vote on Fed nominee Judy Shelton. September TIC flow data is released at 4:00 p.m. The OPEC+ joint ministerial monitoring committee meets, and Facebook Inc. and Twitter Inc. CEOs testify before the Senate. We’ll hear from a number of central bank speakers including ECB President Lagarde, BoE Governor Bailey and Deputy Governor Ramsden, and the Fed’s Bostic, Daly, Kashkari, Rosengren and Barkin.

Market Snapshot

  • S&P 500 futures down 0.4% to 3,609.00
  • Stoxx Europe 600 down 0.05% to 389.55
  • MXAP up 0.2% to 188.08
  • MXAPJ up 0.05% to 620.99
  • Nikkei up 0.4% to 26,014.62
  • Topix up 0.2% to 1,734.66
  • Hang Seng Index up 0.1% to 26,415.09
  • Shanghai Composite down 0.2% to 3,339.90
  • Sensex up 0.7% to 43,946.93
  • Australia S&P/ASX 200 up 0.2% to 6,498.21
  • Kospi down 0.2% to 2,539.15
  • German 10Y yield fell 0.4 bps to -0.549%
  • Euro up 0.1% to $1.1868
  • Brent futures up 0.7% to $44.12/bbl
  • Italian 10Y yield fell 1.3 bps to 0.541%
  • Spanish 10Y yield fell 0.8 bps to 0.091%
  • Brent futures little changed at $43.82/bbl
  • Gold spot up 0.2% to $1,891.94
  • U.S. Dollar Index down 0.2% to 92.42

Top Overnight News from Bloomberg

  • French bars and restaurants will remain closed until mid-January as the government tries to stem the resurgent coronavirus outbreak, France Info radio reported, as officials weigh when to allow shops to reopen
  • The OPEC+ oil alliance should consider delaying its planned output boost by between three and six months, a technical panel that advises ministers suggested
  • Currency markets are back in the spotlight for investors punting on the global economic outlook after the pandemic. Given the progress in developing an effective coronavirus vaccine, risk appetite is making a strong comeback. It’s driving trade-sensitive currencies such as the Australian dollar toward fresh highs, while havens like the Japanese yen and the Swiss franc are feeling the heat
  • U.K.’s chief Brexit negotiator David Frost told Prime Minister Boris Johnson to expect a trade deal with the EU as soon as Tuesday, The Sun reports, without attribution
  • Boris Johnson should consider “strengthening” regional coronavirus restrictions after England exits its second national lockdown next month, a senior government medical adviser said
  • Singapore Prime Minister Lee Hsien Loong said U.S. President-elect Joe Biden should seek constructive ties with China following “quite a tumultuous ride” over the past four years
  • Chinese Vice President Wang Qishan called for global solidarity and a shift away from protectionism as his nation prepares for a Biden administration
  • Federal Reserve Vice Chairman Richard Clarida said prospects for the economic recovery were brightening due to progress in the development of vaccines to fight the Covid-19 pandemic
  • RBA’s November meeting minutes showed that the central bank decided to inject further monetary stimulus into the economy as it became clear that unemployment would stay high and inflation remain subdued for an extended period

A quick look at Global markets courtesy of NewsSquawk

Asian equity markets were somewhat indecisive and only mildly benefitted from the performance on Wall St where both the S&P 500 and DJIA posted record levels and cyclicals outperformed on vaccine optimism following the encouraging update regarding Moderna’s Phase 3 vaccine trial. ASX 200 (+0.2%) and Nikkei 225 (+0.4%) were both lifted at the open as energy and financials resumed the cyclical-led surge in Australia, while the Japanese benchmark rallied to above the 26k level to print its highest since May 1991 but then reversed course and briefly gave back all its gains as risk appetite waned. Elsewhere, the Hang Seng (+0.1%) and Shanghai Comp. (-0.2%) were mixed with underperformance in the mainland following a liquidity drain by the PBoC and as US-China tensions lingered with China’s Global Times Editor recently warning that China will ignore some of the Trump administration’s political stunts but will resolutely hit back for attacks that might cause real harm, while it was also reported that Huawei is to sell its Honor brand to ensure its survival amid the US crackdown. Finally, 10yr JGBs were flat amid the tentative gains in stocks but with downside stemmed after recently finding support at the 152.00 level, while the BoJ’s presence in the market for over JPY 1.3tln of JGBs with 1yr-10yr maturities did little to spur prices.

Top Asian News

  • Courier Giant SF Express Is Said to Mull Share Sale in Hong Kong
  • DBS to Allow Employees to Work Remotely for up to 40% of Time
  • Philippine Central Bank Reduces Government Bond Purchases
  • Southeast Asia’s Virus Hotspot Counts on Early Vaccine Rollout

European equities have kicked the session off with marginal losses (Eurostoxx 50 -0.5%) as markets take a breather from yesterday’s Moderna-inspired gains with little in the way of incremental newsflow since Monday’s close. Sectors are mostly lower on the session with cyclicals such as oil & gas, banks and travel & leisure lagging peers. The latter has been dragged lower easyJet (-2.4%) after the Co. posted a FY loss of GBP 1.27bln and noted that it is expecting to fly no more than 20% of planned capacity in Q1 2021. For banking names, besides the broader thematic moves at play this morning, BBVA (-4.6%) are a standout underperformer after noting it is in merger talks with Sabadell (+6.4%), accordingly, the IBEX 35 (-1.3%), of which BBVA accounts for 7.6% in weighting terms, is trailing its peers. Elsewhere, early strength in European tech names has somewhat abated with the sector roughly unchanged on the session, however, stateside the e-mini Nasdaq 100 (+0.2%) outperforms peers (e-mini S&P -0.5%, e-mini Russell 2000 -0.7%) as the ongoing rotation into cyclical/value companies pauses for breath. Tesla (+12% pre-market) are likely exerting some influence on this front with shares set to open firmer amid news that the Co. is set to join the S&P 500 prior to the open on December 21st. Corporate updates from Europe have been on the lighter side this morning as earnings season draws to a close with the one of the main standouts for the session being Imperial Brands (+6.1%) with shares higher post FY earnings and outlining a more upbeat outlook for 2021.

Top European News

  • Italy’s Government Signs Off on 38 Billion-Euro Aid Package
  • France’s Bars, Restaurants May Stay Closed Until Mid- January
  • Pound Seen Falling 5% if U.K. Trade Talks With EU Go Nowhere
  • Merkel Sees German Recovery Accelerating Once Virus Is Tamed

In FX, the Yen is leading the G10 charge against the Buck and having another look at offers ahead of the 104.00 level after tripping stops around 104.34 according to market contacts, but YUAN gains are even more pronounced as the Cnh and Cny extend their rallies towards 6.5450 and 6.5500 respectively from another solid PBoC platform overnight. Elsewhere, the Franc has rebounded further to retest 0.9100 despite further physical and verbal intervention from the SNB and Euro has also shrugged off latest ECB qualms about moves vs the Greenback to clear 1.1850 on the way to circa 1.1875. However, Eur/Usd may yet be drawn to a hefty option expiry at the half round number (2.1 bn) if not decent interest at 1.1830 (1 bn) and a more concerted attempt to reach 1.1900 could be repelled by expiries at the strike (1.1 bn). Meanwhile, the Aussie appears to have taken RBA minutes in stride given no additional policy guidance from last week’s post-meeting statement, but Aud/Usd has piggy-backed the Renminbi and gleaned traction on the 0.7300 handle from closer ties between Japan and Australia to compensate for ongoing strains with China. Similarly, Sterling is deriving momentum above 1.3200 and through 0.9000 in Eur/Gbp terms on positive sounding Brexit reports in the UK media, with chief negotiator Frost briefing PM Johnson about a potential deal by next Tuesday and an EU diplomat suggesting a willingness to be creative in finding a deal to avoid an accidental no deal scenario.

  • DXY/CAD/NZD – Given all the advances noted above, the Dollar index is holding up relatively well, albeit in a lower 92.614-372 range compared to Monday awaiting some top tier US data in the form of retail sales and ip before another raft of Fed speakers. Moreover, the Greenback has clawed back some lost ground against the Loonie and Kiwi amidst a dip in broad risk sentiment following yesterday’s Moderna vaccine boost, with Usd/Cad straddling 1.3075 and Nzd/Usd pivoting 0.6900 in the run up to Canadian housing starts and wholesale trade and NZ PPI.
  • SCANDI/EM – The Norwegian Korona is keeping pace with the Euro in wake of encouraging GDP updates rather than a deterioration in consumer sentiment, but other oil and commodity currencies are not coping with crude prices retreating from recent highs or the aforementioned waning risk appetite, as the Turkish Lira and SA Rand look forward to CBRT and SARB rate decisions on Thursday.

In commodities, WTI and Brent have experienced a choppy European morning as participants prepare for today’s JMMC meeting in otherwise relatively quiet price action thus far. Currently, WTI and Brent are pivoting around the U/C mark with a range of USD ~0.50/bbl thus far. The OPEC JMMC gathering is scheduled to commence from around 13:00GMT/08:00EST today. Yesterday’s JTC event concluded that most countries support a 3-month extension of the current cuts according to sources; such a decision would imply a production reduction level of 7.7mln BPD throughout the Q1 and as such would be relatively in-line with the source reports prior to the COVID-19 vaccine updates. Subsequently, Energy Intel has reports that JMMC delegates are said to be looking to recommend an extension of 3-6 months at current quotas. Given these updates attention throughout the session will be on how closely the final JMMC recommendation adheres to these reports and how the Committee intends to address the likely mid-term improvements on the demand front given COVID-19 vaccine updates. While on the supply side Libya’s increasing output is a possible concern particularly as they have intimated they will not comply with OPEC+ quotas until production hits 1.6mln BPD. As a reminder, the JMMC can only make policy recommendations and cannot implement policy changes themselves – with attention on the end-of-month OPEC/OPEC+ gatherings for any such alteration which would require unanimous consent to be passed. Moving to metals, spot gold is relatively unchanged on the session with the metal following and as such exhibiting similar action to the range-bound USD this morning. Currently, the yellow metal is just shy of the USD 1890/oz mark and towards the lower-end of the day’s range. Elsewhere, UBS believes palladium prices will rise to USD 2600/oz in 2021 given vaccine updates, strong China auto sales and a general recovery in global economic activity assisting the metal.

US Event Calendar

  • 8:30am: Retail Sales Advance MoM, est. 0.5%, prior 1.9%; Retail Sales Ex Auto MoM, est. 0.6%, prior 1.5%
  • 8:30am: Retail Sales Control Group, est. 0.5%, prior 1.4%
  • 8:30am: Import Price Index MoM, est. 0.0%, prior 0.3%; Import Price Index YoY, est. -0.75%, prior -1.1%
  • 8:30am: Export Price Index MoM, est. 0.2%, prior 0.6%; Export Price Index YoY, prior -1.8%
  • 9:15am: Industrial Production MoM, est. 1.0%, prior -0.6%; Capacity Utilization, est. 72.3%, prior 71.5%
  • 10am: Business Inventories, est. 0.6%, prior 0.3%
  • 10am: NAHB Housing Market Index, est. 85, prior 85
  • 4pm: Net Long-term TIC Flows, prior $27.8b;

DB’s Jim Reid concludes the overnight wrap

After the last couple of weeks we should be aware that getting lunch early on a Monday could see you miss moves in markets that sometime take years to achieve in normal times. Moderna (11:56am GMT) yesterday followed Pfizer/BioNTech (11:45am GMT) last Monday in releasing the all important efficacy numbers just before the US was arriving at their virtual desks. So let’s see what arrives next Monday morning just before noon GMT.

The impact of yesterday’s announcement wasn’t as big for markets as last week’s though but it continued to fuel the rotation trade. With similar technology to Pfizer/BioNTech, expectations had already been raised for Moderna. However make no mistake that this was very good news. A 94.5% efficacy rate to date puts it up there with the most reliable vaccines we have. Below we have updated a CoTD from last week that has efficacy numbers for both these Covid-19 vaccines so far against diseases that we commonly vaccinate for. They both score very highly especially versus the flu vaccine.

In a further positive development, the Moderna vaccine “only” needs to be transported at minus 20C, which is well above the minus 70C that the Pfizer/BioNTech vaccine seemingly requires, so that’s more promising news when it comes to its wider distribution. In terms of the next steps, Moderna said that they intended to submit for an Emergency Use Authorization with the US FDA “in the coming weeks”. Later on in the day Federal Reserve Vice Chairman Clarida said that the positive vaccine news means he’s “got more conviction in (his) baseline for next year and more conviction that the recovery from the pandemic shock in the U.S. can potentially be much more rapid than it was from the global financial crisis.” So some rare recent signs from a Fed official of upside risks to growth.

Nevertheless, though the vaccine developments were incredibly positive, markets still have a bit of a “show me the logistics” side to it, and are also awaiting further info on availability and whether it’s as good at protecting the most vulnerable – namely the elderly. One of the successes that were highlighted by both the Moderna CEO and Dr Fauci was the ability to protect against severe cases, as no participants who got the vaccine developed a severe case of Covid-19, compared with 11 volunteers who received placebo shots.

Just on that logistics side, Pfizer/ BioNTech has said overnight that it has started a pilot Covid-19 immunisation program in four US states – Rhode Island, Texas, New Mexico, and Tennessee – to help refine the plan for the delivery and deployment of the vaccine.In the meantime though, case growth continues to move in the wrong direction throughout the world, with governments moving to impose further restrictions. Cases have now risen on a weekly basis in all 50 US states with the Northeast now joining the rest of the nation as the weather turns colder. The New Jersey Governor announced that indoor gatherings would be limited to a maximum of 10, the Michigan’s Governor imposed a partial three-month shutdown, while in Philadelphia indoor dining has been banned and schools closed. California has also reinstituted bans on many indoor businesses and warned that a curfew is possible.

Even in Sweden, which had been relatively relaxed in its restrictions early on in the pandemic, the Prime Minister announced that gatherings of more than 8 people would be banned from next week. Here in the UK, Susan Hopkins, deputy director of Public Health England, said overnight that the three-tier system of social-distancing rules put in place before PM Johnson ordered a four-week lockdown in England was not wholly effective, and a winter of tougher measures may be needed until the vaccine is available for everyone. In more positive news France saw the running 7-day tally of new cases fall for a ninth-consecutive day and the country’s positive-test rate fall to 16.4%, down over 3pts in a week.

As with the Pfizer news the previous week, risk assets responded positively to the vaccine developments, and the S&P 500 climbed +1.16% to reach a new all-time high of 3626.91. That puts the index up +12.26% on a YTD basis, which probably isn’t what you’d have guessed for the S&P at this point had you been told the US economy was going to see its biggest annual contraction in decades. Looking at the sectoral moves, energy stocks (+6.50%) led the advance against the backdrop of a surge in oil prices, which themselves were supported by hopes of stronger economic demand and greater mobility in a post-Covid world. Indeed by the close, both Brent Crude (+2.43%) and WTI (+3.02%) oil prices had witnessed major gains. On the other hand, tech stocks lagged but they also ended the session higher, with the NASDAQ up +0.80%. And the S&P 500 wasn’t the only index to reach an all-time high, with the Dow Jones (+1.60%) climbing to its highest ever closing level, falling just shy of the 30,000 mark. Also on the S&P, there was confirmation that Tesla would be entering the S&P 500 on its next rebalancing on December 21, when it will likely be the largest ever new member and comfortably in the top 10 with its current market cap. The stock was up as much as 15% in after-market trading. This sort of gain is actually more than the market cap of Moderna which is pretty stunning.

Some of the stay-at-home stocks such as Zoom (-1.10%) lagged but the only sector that pulled back in the US was ironically Healthcare (-0.19%) as some businesses that were more profitable during the pandemic were repriced. The losses in the sector were led in part by Pfizer (-3.26%) with the difference in storage temperature between the two vaccines driving part of the divergence as Moderna rallied +9.63%.

For Europe it was much the same story, with the STOXX 600 rising +1.18% to a fresh post-pandemic high as energy stocks led the charge there too. Indices made gains across the continent, with the FTSE 100 (+1.66%), the CAC 40 (+1.70%) and the DAX (+0.47%) all moving higher. Southern Europe in particular outperformed, with Spain’s IBEX 35 (+2.60%) and Italy’s FTSE MIB (+1.98%) seeing the strongest gains on the continent. And this outperformance in southern Europe was also reflected in their sovereign bond spreads, which tightened to their lowest in years in some cases. In fact by the close, the spread of Italian 10yr yields over bunds had fallen -1.6bps to a 2-year low of 1.20%, while the equivalent Greek spread was down -4.1bps to 1.263%, its tightest level in over a decade.

Overnight in Asia the rally in risk assets has stalled a little with the Nikkei (+0.44%), Hang Seng (+0.02%), Kospi (+0.09%) and Asx (+0.21%) all making quite modest gains. The Shanghai Comp (-0.30%) is down. However, the rotation trade is continuing in Asian markets towards cyclicals. Meanwhile, futures on the S&P 500 are down -0.43% overnight. European futures are also pointing to a weaker open.

We heard from the ECB Chief Economist Philip Lane overnight as he reaffirmed that the ECB will provide enough monetary stimulus at its next meeting to make sure governments, companies and households have access to cheap credit throughout the coronavirus crisis. He added that, “Our orientation is to keep financing conditions favorable.”

Back to markets and sovereign bonds had a much less rosy time yesterday, selling off in response to the positive vaccine news as investors viewed it as lowering the likelihood of prolonged easy monetary policy. Despite the fact that yields had started the day by moving lower, those on 10yr US Treasuries ended up rising +1.0bps to move back above the 0.9% mark, while those on 10yr bunds (+0.2bps) and gilts (+1.1bps) similarly moved higher. They did all rally off the session highs in yield though.

It was somewhat down the headlines given the vaccine news, but there was a blockage in progress on the EU’s long-term budget and recovery fund yesterday, after Hungary and Poland opposed its progress because of conditions attached over the rule-of-law. This poses a risk since there has to be unanimity among the 27 member states for the European Commission to be able to issue joint debt. The bloc’s leaders are going to be holding a video conference on Thursday which is scheduled to focus on their response to the pandemic, so we can expect a strong discussion there. And although Hungary and Poland are against the conditions, others remain strongly in favour.

To the day ahead now, and we’ll hear from a number of central bank speakers including ECB President Lagarde, BoE Governor Bailey and Deputy Governor Ramsden, and the Fed’s Bostic, Daly, Kashkari, Rosengren and Barkin. Data highlights from the US include October’s retail sales, industrial production and capacity utilisation, as well as the NAHB housing market index for November. Finally, earnings releases include Walmart and Home Depot.

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 7.07 PTS OR .21%   //Hang Sang CLOSED UP 33.42 PTS OR .13%    /The Nikkei closed UP 107.69 POINTS OR 0.42%//Australia’s all ordinaires CLOSED UP 0.16%

/Chinese yuan (ONSHORE) close UP AT 6.5510 /Oil UP TO 41.18 dollars per barrel for WTI and 43.70 for Brent. Stocks in Europe OPENED ALL RED EXCEPT ITALY//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5510. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5540 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/

China’s Construction bank pulls a massive blockchain bond issue as defaults build.

(zerohedge)

China’s Biggest Bank Pulls Massive Blockchain-Backed Bond Issue As Defaults Build

With liquidity shortfalls mounting and defaults starting to accelerate, the already-opaque Chinese corporate bond market has hit a wall as the unexpected default of a Chinese coal miner has prompted particular concern over the health of these firms and their lenders, triggering a selloff in bonds issued by weaker borrowers from the sector and prompting some of them to cancel debt sales.

The most notable so far is that the listing of China Construction Bank’s blockchain-based debt issuance bonds has been delayed “at the request of the issuer” until further notice, according to a Nov. 13 statement from the Fusang exchange where they were due to be traded.

As CoinTelegraph’s Jack Martin reportsit is not currently clear when or if China Construction bank’s debt issuance sale will be rescheduled.

A block-explorer scan of the smart-contract address associated with the sale shows no transactions, suggesting that the sale and issuance of the bonds has also been delayed.

As Cointelegraph reported just last weekCCB is the second-largest bank in the world in terms of assets held.

image courtesy of CoinTelegraph

It planned to raise up to $3 billion in total through the bond issuance, with an initial tranche of $58 million due to launch for live trading on Nov. 13.

The bonds were set to be issued as digital assets on the Ethereum blockchain through an offshore branch of CCB on the small island of Labuan, Malaysia, which has a reputation as a tax haven.

The digital tokens were to sell at a face value of $100 each, enabling both institutions and private investors to take part in the sale.

The innovation is that these bonds are being used as tokenized certificates of deposit on the blockchain, which supports the issuance of such small-sum bonds; non-blockchain-based bonds are typically sold at higher minimums, and are therefore limited to professional investors or other banks.

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/RUSSIA

Israel is very high tech and it is interesting that they are shunning the uSA models and going with the Russian COVID vaccine

(zerohedge)

Israel In Talks To Buy Russia’s COVID Vaccine

In the United States and the West broadly all eyes are on the Moderna and Pfizer coronavirus vaccines, as well as planning for the “logistical nightmare” of mass distribution to the population once fully proven effective. Hours after Moderna on Monday hailed its vaccine as nearly 95% effective the WHO in a press conference said the trial results are “encouraging”.

However, what’s being given far less attention yet is a potentially much more important geopolitical development, is that after the claimed effectiveness of Russia’s Sputnik V vaccine, which interim trial results showed to be 92% effective (announced last week), Israel is in talks with the Russian government to possibly buy the vaccine. 

On Monday afternoon (local time) Israeli Prime Minister Benjamin Netanyahu told reporters“About an hour ago I spoke with Russian President Vladmir Putin regarding the possibility of purchasing an option on the vaccine Sputnik-V.” 

Image source: Russian Healthcare ministry

Netanyahu added that “We will discuss this in the coming days” in reference to Israeli access to Sputnik V. Netanyahu is also speaking with with American multinational Pfizer in what appears an effort to cast as wide a net as possible for Israel’s large-scale vaccine procurement.

“My goal is to bring as many vaccines from as many sources to as many citizens, as quickly as possible,” Netanyahu said Monday after talking to Putin.

Last week Netanyahu described of talks with Pfizer chairman and CEO Albert Bourla, “I am constantly working to bring vaccines to Israel… The entire world wants to receive its drugs. We are conducting negotiations with them.”

And further The Jerusalem Post reports:

Hadassah-University Medical Center has already signed a memorandum of understanding with the country’s sovereign wealth fund, Russian Direct Investment Fund, and the Gamaleya Research Institute of Epidemiology, who are collaborating on the production of the vaccine, according to Hadassah head Prof. Zeev Rotstein.

He told The Jerusalem Post that the hospital had submitted the dossier to the Health Ministry to register the vaccine and has signed an MOU for 1.5 million doses of the vaccine candidate.

This doesn’t necessarily mean any decision has been made for large-scale purchase of the Russian vaccine, but pilot programs for presumably multiple vaccines are being readied.

According to further explanation from the Hadassah-University Medical Center director:

“We know that the chances of Israel enjoying vaccines from different countries are unclear,” Rotstein said. “Different governments could decide to vaccinate their people first and only then send vaccines to other countries. We came to the agency early so we could get on the list.”

This comes after Russia has faced months of criticism that its vaccine was being “rushed” amid broader accusations and suspicions when it comes to Russian technology and science.

Russia has lately touted that “The Pfizer vaccine requires storage at minus 70 degrees, whereas Sputnik V can be maintained at minus 18 degrees, making it easier to store and distribute,” according to Sky News.

UK and US reports have further described the international race to be the first country to deliver an effective and safe COVID-19 vaccine as a ‘medical Cold War’ of sorts.

end

6.Global Issues

CORONAVIRUS UPDATE/GLOBE

US COVID-19 Hospitalizations Reach New Record As Global Cases Top 55 Million: Live Updates

Summary:

Global cases top 55 million

US hospitalizations at new record

US seeing 150k new cases per day

India outbreak continues to slow

Australian PM heads to Tokyo

Illinois, Michigan more than 10k+ new cases

* * *

From California to New Jersey, states are reimposing strict new lockdown measures with roughly a week and a half to go before the holiday, with California pulling the partial-lockdown “emergency break” and Michigan adopting one of its own to last at least 3 weeks.

The new restrictions follow an unprecedented surge, with the US reporting a million new infections during the first ten days of November, prompting health experts like Dr. Anthony Fauci to warn that both Thanksgiving and Christmas should be cancelled this year. On Monday, Dr. Deborah Birx, a member of the White House task force, said she isn’t seeing a plateau in new cases.

New cases are averaging 150k new cases per day in the US, an increase of 37% over the past week, with hospitalizations hitting a new peak of 73k. Additionally, the 7-day average for deaths has climbed to 1,128, the highest level since the summer. All of this, of course, follows news that Moderna’s mRNA-based COVID-19 vaccine is even more effective than Pfizer’s, creating that “light at the end of the tunnel” that recently helped push the Dow to a new record.

But reality was setting back in on Tuesday, as US futs pointed to a drop at the open. According to data from Bloomberg, Pennsylvania has seen a 14% jump in total cases, while Ohio’s have surged 19%, Washington state’s climbed 11% and Illinois’s are up 18%. Michigan’s cases have increased 20%, the most since April.

After VP Mike Pence insisted that plenty of hospital beds remain open around the country, hospitalizations per million people has topped 500 in ND an SD. 8 states have more than 400 per million hospitalized.

Illinois and Michigan reported more than 10k new cases yesterday, as the present wave of the outbreak remains centered on the midwest.

Global cases have topped 55 million as of Tuesday morning, thanks to the latest numbers out of Europe and Asia. Deaths worldwide have reached 1,329,556. The world added more than half a million new cases yesterday, down from record highs seen earlier this month, but still higher than at any time during the spring and summer.

India continues to report a dip in cases, with 29,163 infections in the last 24 hours a day after recording a four-month low of 30,548. Total infections in the country have hit 8.87 million while the death toll has jumped by 449 to 130,519 (Source: Nikkei).

Pfizer says it is starting a pilot program for COVID-19 immunization in four U.S. states to help refine a plan to deploy its vaccine candidate. The U.S. drugmaker has selected Rhode Island, Texas, New Mexico and Tennessee (Source: Nikkei).

Australian Prime Minister Scott Morrison arrives in Tokyo to discuss with Japanese counterpart Yoshihide Suga about strengthening ties, including establishing a framework for each country’s troops to train together and conduct joint military operations. Morrison will be the first foreign leader to meet Suga and is expected to spend the nationally mandated two weeks in quarantine when he returns home (Source: Nikkei).

7. OIL ISSUES

OPEC likely to extend oil production cuts for at least 3 months in order to reduce global glut

(zerohedge)

end

8 EMERGING MARKET ISSUES

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

Euro/USA 1.1868 UP .0009 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 EXCEPT ITALY

USA/JAPAN YEN 104.25 DOWN 0.279 (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 1.3255   UP   0.0034  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3080 UP .0004 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  TUESDAY morning in Europe, the Euro ROSE BY 9 basis points, trading now ABOVE the important 1.08 level RISING to 1.1868 Last night Shanghai COMPOSITE DOWN 7.07 PTS OR .21% 

//Hang Sang CLOSED  UP 33.42 PTS OR .13%

/AUSTRALIA CLOSED UP 0,16%// EUROPEAN BOURSES ALL RED EXCEPT ITALY

Trading from Europe and Asia

EUROPEAN BOURSES ALL RED  EXCEPT ITALY.

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 33.42 PTS OR .13% 

/SHANGHAI CLOSED DOWN 7.07 PTS OR .21% 

Australia BOURSE CLOSED UP 0.16% 

Nikkei (Japan) CLOSED UP 107.69  POINTS OR 0.42%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1887.25

silver:$24.60-

Early TUESDAY morning USA 10 year bond yield: 0.885% !!! DOWN 2 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.638 DOWN 3  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 92.39 DOWN 20 CENT(S) from  MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  TUESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.05% DOWN 5 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.02.%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve

SPANISH 10 YR BOND YIELD: 0.08%//DOWN 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.64 DOWN 2 points in basis points yield from yesterday./

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

GERMAN 10 YR BOND YIELD: FALLS TO –.56% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.20% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.1861  UP     .0002 or 2 basis points

USA/Japan: 104.22 DOWN .317 OR YEN UP 32  basis points/

Great Britain/USA 1.3249 UP .0028 POUND UP 28  BASIS POINTS)

Canadian dollar DOWN 30 basis points to 1.3105

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The USA/Yuan, CNY: closed UP AT 6.5566    ON SHORE  (UP)..

THE USA/YUAN OFFSHORE:  6.65566  (YUAN up)..

TURKISH LIRA:  7.69  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.02%

Your closing 10 yr US bond yield DOWN 3 IN basis points from MONDAY at 0.876 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.628 DOWN 4 in basis points on the day

Your closing USA dollar index, 92.44 down 20  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 27.90  0.77%

German Dax :  CLOSED DOWN 5.14 POINTS OR .04%

Paris Cac CLOSED UP 11.52 POINTS 0.21%

Spain IBEX CLOSED DOWN 51.90 POINTS or 0.65%

Italian MIB: CLOSED UP 118.10 POINTS OR 0.55%

WTI Oil price; 40.88 12:00  PM  EST

Brent Oil: 43.36 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    76.31  THE CROSS HIGHER BY 0.16 RUBLES/DOLLAR (RUBLE LOWER BY 16 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.56 FOR THE 10 YR BOND 1.00 PM EST EST

END

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

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

WTI CRUDE OILPRICE 4:30 PM :  41.96//

BRENT : 43.84

USA 10 YR BOND YIELD: … 0.874..down 3 basis points…

USA 30 YR BOND YIELD: 1.625 down 4 basis points..

EURO/USA 1.1863 ( UP 63   BASIS POINTS)

USA/JAPANESE YEN:104.19 DOWN .339 (YEN UP 34 BASIS POINTS/..

USA DOLLAR INDEX: 92.44 DOWN 20 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3253 UP 32  POINTS

the Turkish lira close: 7.70

the Russian rouble 76.29   DOWN 0.14 Roubles against the uSA dollar. (DOWN 14 BASIS POINTS)

Canadian dollar:  1.3090 DOWN 22 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.56%

The Dow closed DOWN 166.49 POINTS OR 0.56%

NASDAQ closed DOWN 24.79 POINTS OR 0.21%


VOLATILITY INDEX:  22.90 CLOSED UP .45

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

USA trading today in Graph Form

Short-Squeeze Sparks Small-Cap Buying-Panic, Bitcoin Nears Record High

Overnight gains evaporated across the US cash open this morning – erasing all of the Moderna vaccine gains – but around 10amET, the boot of the short-squeeze army stomped on the throat of small-cap-sellers and sent the index soaring dramatically higher on the day (while the rest of the majors lifted only modestly to end unchanged from MRNA’s headlines)…

The melt-up in Small-Caps was driven in large part by yet another massive short-squeeze…

Source: Bloomberg

Most-Shorted Stocks are up 10 of the last 12 days…

Source: Bloomberg

The jump in Small Caps hit as the ratio to Nasdaq found support…

TSLA soared over 13% at one point today on news that it will be added to the S&P 500, but after tagging the highs from mid-Oct, Musk’s piggybank started to fade…

Major decoupling occurring between momo/value stocks and TSY yields…

Source: Bloomberg

Despite stock gains, and a heavy calendar, bonds were bid, with yields now lower on the week (seemingly unimpressed by MRNA’s vaccine)…

Source: Bloomberg

It seems the message from Bonds to vaccine-hypers is simple…

10Y was back below 90bps and 30Y erased all of the losses from yesterday’s vaccine news (NOTE, 30Y yield found notable resistance at 1.75%)…

Source: Bloomberg

The Dollar drifted back to pre-Pfizer-vaccine spike levels, still well down from the election…

Source: Bloomberg

But it was Bitcoin that made the big headlines – soaring near $18,000…

Source: Bloomberg

Bitcoin has only closed higher than this on one day in history (12/17/17)…

Source: Bloomberg

The surge in Bitcoin has run ahead of the global volume of negative yielding debt that it has traded with for the last two years…

Source: Bloomberg

WTI managed a small gain on the day, scrambling back above $41 ahead of tonight’s inventory data…

Gold trod water around $1885 until The Senate voted to block Judy Shelton’s nomination to The Fed…

Finally, the S&P has overtaken the rest of the world’s majors YTD…

Source: Bloomberg

And as global stocks reach record highs, bonds ain’t buying it at all…

Source: Bloomberg

Greed is back…

a)Market trading/THIS MORNING/USA

Stocks Tumble, Erase All Moderna Vaccine Hype Gains

Small Caps just joined the rest of the US majors in the red post-Moderna headlines…

And Treasury yields are tumbling…

We’re gonna need another positive vaccine headline, stat!

END

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

US Retail Sales Disappoint In October As Fiscal Stimulus Fades

Following September’s surprise surge in retail sales, analysts expected a significant slowdown in growth in October but the data was even worse with headline US retail sales rising just 0.3% MoM (vs +0.5% MoM) and last month’s surge was notably revised lower (from +1.9% MoM to +1.6% MoM).

On a year-over-year basis, both goods and services retail sales growth slowed, but remain relatively high…

Source: Bloomberg

Under the hood, Furniture, clothing, and sporting goods all saw a notable drop in sales, as Non-store retailers (online/Amazon) surged…

Finally, the Control Group data – used for GDP calculations – was even worse, rising just 0.1% MoM…

Source: Bloomberg

END

iii) Important USA Economic Stories

Georgia

Examples of how multiple Trump ballots fraudulently were entered for Biden

(zerohedge)

“No, This Is Trump”: Georgia Recount Auditor Claims Multiple Trump Ballots Fraudulently Called For Biden

A GOP recount observer in Georgia claims that several ballots recorded as Biden were actually votes for Trump, and workers conducting the recount became angry when he reported what was happening to elections officials.

The insider told Project Veritas, “The second person was supposed to be checking it right, three times in three minutes she called out Biden,” adding “The second auditor caught it and she said, “No, this is Trump.””

“Now, that’s just while I’m standing there. So, does the second checker catch it every time? But this lady in three times in three minutes from 2:09 to 2:12 she got three wrong.”” he continued, adding “They were calling their bosses. They were pointing at me…”

Earlier in the day, Georgia Secretary of State Brad Raffensperger hit back against claims that he facilitated an unfair, illegal ballot count. He’s also been accused of trying to skip the manual recount altogether, and initially “wanted to just rescan the bar codes & be done with it.”

end
GEORGIA
Raffensperger lashes out against everybody over allegations of signature
mismatches and the Dominion software and the lawsuit brought on by Lin
Wood/

Georgia Secretary Of State Lashes Out Over ‘Baseless Allegations’ Regarding Signature Mismatches, Dominion

Georgia Secretary of State Brad Raffensperger, a Republican (Harvey  but a RINO), lashed out on Monday over ‘baseless’ accusations coming from President Trump and his allies, including Sen. Lindsey Graham (R-SC), questioning the validity of ballots cast in the state, according to the Washington Post.

In a wide-ranging interview about the 2020 election, Raffensperger expressed exasperation with a string of baseless allegations coming from Trump and his allies about the integrity of the Georgia results, including  claims that Dominion Voting Systems, the Colorado-based manufacturer of Georgia’s voting machines, is a “leftist” company with ties to Venezuela that engineered thousands of Trump votes not to be counted. –Washington Post

“Other than getting you angry, it’s also very disillusioning,” said Raffensperger, who says both he and his wife have received death threats in recent days. “particularly when it comes from people on my side of the aisle. Everyone that is working on this needs to elevate their speech. We need to be thoughtful and careful about what we say,” he added.

While the Post doesn’t directly address it, the central issue regarding ballots is a March ‘Consent Decree’ enacted by Raffensperger and approved by Governor Brian Kemp, allowing for the ‘curing’ of ballots bearing signatures that don’t match state records, but only through a complicated process. Previously, mismatched ballots would be invalidated.

Raffensperger has been accused in a new lawsuit of ‘unilaterally, and without the approval or direction of the Georgia General Assembly,’ changing the process for handling absentee ballots – authority which rests with the legislature and not the Secretary of State or the Judiciary, which would therefore invalidate improperly counted absentee ballots.

Meanwhile, President Trump further knocked Georgia’s ongoing recount of roughly five million votes, tweeting on Monday that without the ‘all important signature match’ the recount is ‘MEANINGLESS.’

And according to RealClearPolitics‘ Paul Sperry, Raffensperger didn’t want to conduct a hand recount initially, but “wanted to just rescan the bar codes & be done with it.”

Meanwhile, Raffensperger says ‘there is currently no credible evidence that fraud occurred on a broad enough scale to affect the outcome of the election,’ and that the ongoing recount will ‘affirm’ the results of the initial count. He also says it will ‘prove the accuracy of the Dominion machines,’ with some counties having already reported that their hand recounts exactly match machine tallies.

That said, a recount in one Georgia county has already found a disproportionate number of Trump votes.

end
PA case goes today to block certification. They still do not have proof. They need the server and the evidence on it
(zerohedge)

Giuliani Seeks To Rep Trump In PA Election Case, Remains Absolutely Convinced He’ll Win

Update (1200ET): Rudy Giuliani, President Donald Trump’s personal lawyer, formally told a federal court that he will represent the Trump campaign in its long shot case to block Pennsylvania from certifying votes. The case and whether it should be dismissed will be argued in federal court this afternoon.

As CNN reportsit’s not known yet if Giuliani himself will argue the case, or if he will leave that to central Pennsylvania lawyer Marc Scaringi, who also joined the legal effort at the last minute.

The move came after several lawyers withdrew from representing the Trump campaign in the case, which has been filed in the U.S. District Court for the Middle District of Pennsylvania.

Full Petition below:

Donald J Trump for Presiden… by Zerohedge Janitor

*  *  *

As Michael Snyder, via The End of The American Dream, detailed earlier,  we are about to witness the most high stakes court battle in the history of the United States.  Yes, the outcome will determine whether Donald Trump or Joe Biden wins the presidency, but even more importantly the integrity of America’s elections is about to be put on trial.  If fraud can be proven, extremely expensive voting machines will have to be destroyed all over the nation and the way that we run our elections will need to be completely reconfigured.  But if fraud is not proven, our elections will continue to be run the same way and nobody will ever dare challenge them again.  Literally, this is the moment when we determine if there will be fair elections in the United States for the foreseeable future.

So to say that the stakes are very high is actually quite an understatement.

Of course in the short-term the implications of this court battle for our country will be enormous.  If Biden wins the presidency, tens of millions of conservatives will completely lose faith in the system and many of them will never vote again.

But if Trump wins the presidency, tens of millions of liberals will completely lose faith in the system, and we will witness civil unrest in the streets on a scale that we have never seen before.

Take a moment and imagine how much fury there will be on the left if the election is flipped now.  When Biden won, they celebrated wildly in the streets, but if Trump ends up in the White House for a second term they will be like extremely angry toddlers that have just had their favorite new toy taken away.

At this point, most on the left assume that they have the election in the bag and that there is no way that Trump could possibly win.

But with each passing day, more evidence of election fraud continues to emerge.

We know that dead people voted, we know that people that moved out of key swing states voted in those elections anyway, and we know that mail-in ballots were stolen and sent in.

There are also sworn affidavits from witnesses that saw ballots being brought in the back door of polling locations and from witnesses that saw the same ballots being counted over and over.

But the key to this entire court battle is going to come down to the voting machines.

In particular, the heart of the case to prove fraud is going to involve machines and software provided by a Canadian company called Dominion Voting Systems.

Today, machines and software provided by Dominion Voting Systems are used in 28 different states.

According to their official website, the critical swing states of Pennsylvania, Michigan, Wisconsin, Georgia, Arizona and Nevada are all customers.

Trump attorney Sidney Powell says that she has uncovered evidence that indicates a computer algorithm was used to flip votes from Trump to Biden, and that this completely changed the outcome of the election.

This is a very, very serious allegation to make, and no experienced lawyer would make it lightly.  Sidney Powell has put her entire reputation on the line in this battle, and she has a history of taking on huge battles and winning.  The following comes from John Nolte

Sidney Powell is no joke. She served as a federal prosecutor for ten years and earned a national reputation as the attorney who swooped in, convinced Ret. Gen. Michael Flynn to withdraw his guilty pleas, and successfully pressured the Justice Department to drop its charges. She was a stalwart and regular presence in exposing the Russia Collusion Hoax, and by my count, everything she said was going to happen did happen.

But of course this is the biggest battle that Powell has ever faced by far.

Either she will win and become a legend, or she will lose and her reputation will be completely and utterly destroyed.

The stakes could not be much higher for her personally, but she seems quite confident of victory.

In fact, here are 12 quotes from Powell that show why she is so convinced that Trump will end up in the White House for a second term…

#1 Powell: “There has been a massive and coordinated effort to steal this election from we the people of the United States of America, to delegitimize and destroy votes for Donald Trump, to manufacture votes for Joe Biden.”

#2 Powell: “First of all, I never say anything I can’t prove… and President Trump won by not just hundreds of thousands of votes, but by millions of votes that were shifted by this software that was designed expressly for that purpose. We have sworn witness testimony of why the software was designed. It was designed to rig elections.”

#3 Powell: “They also used an algorithm to calculate the votes they would need to flip, and they used computers to flip those votes from…Trump to Biden.”

#4 Powell: “They had the algorithms. They had the paper ballots waiting to be inserted if and when needed. And notably, President Trump’s vote in the blue states went up enormously. That’s when they had to stop the vote count. They had to go in and replace votes for Biden and take away Trump votes.”

#5 Powell: “They can watch the voting real time. They can run a computer algorithm on it as needed to either flip votes, take votes out or alter the votes to make a candidate win… It’s massive criminal voter fraud, writ large across at least 29 states… It’s obvious the algorithm and the statistics that our experts are tracking out are batches of votes and when the votes changed. It’s going to blow the mind of everyone in this country when we can get it all together and can explain it with the affidavits and the experts that have come forward.”

#6 Powell: “Even their own manual explains how votes can be wiped away. They can put — it’s like drag-and-drop — Trump votes to a separate folder and then delete that folder.”

#7 Powell: “In fact, we have got math in Michigan and Pennsylvania, I think it is, that, all of a sudden, hundreds of thousands of votes at a 67 percent ratio for Biden, 23 percent for Trump were uploaded multiple times into the system.”

#8 Powell: “They did this on purpose, it was calculated, they’ve done it before. We have evidence from 2016 in California, we have so much evidence I feel like it’s coming in through a firehose.”

#9 Powell: “It’s absolutely brazen how people bought the system, and why they bought the system.”

#10 Powell: “In fact, every state that bought Dominion, for sure, should have a criminal investigation or at least a serious investigation of the federal — of the officers in the states who bought the software. We have even got evidence of some kickbacks, essentially.”

#11 Powell: “…aware of substantial sums of money being given to family members of state officials who bought this software.”

#12 Powell: “We’re getting ready to overturn election results in multiple states.”

We already know that there were “glitches” with Dominion voting machines in certain areas, and we also know that there was an “emergency upload” to their voting machines the night before the election

While the source of the ‘glitch’ is still under investigation, one state ballot supervisor, Marcia Ridley, initially told POLITICO on Nov. 3 that Dominion, which prepares the poll books for counties before elections, “uploaded something last night, which is not normal, and it caused a glitch.” That reported incident prevented staff from programming the voter smart cards for the voting machines. Ridley continued, “That is something that they don’t ever do. I’ve never seen them update anything the day before the election.”

Just because there was an emergency patch the night before the election does not prove anything, but it does seem suspicious.

And it is also being reported that Dominion Voting Systems Security Chief Eric Coomer claimed that he personally made certain that Trump was not going to win the election…

In a stunning interview conducted by Michelle Malkin, Joe Oltmann, FEC (Faith Education Commerce) United founder, reveals how he infiltrated Antifa and how during a conversation with Antifa members, he discovered “Eric from Dominion” was allegedly part of the chat during the week of September 27, 2020.

Oltmann explained that “Eric” was telling the Antifa members they needed to “keep up the pressure.” When one of the caller’s asked, “Who’s Eric?” someone answered, “Eric, he’s the Dominion guy.” Oltmann said that as the conversation continued, someone asked, “What are we gonna do if F*cking Trump wins?” Oltmann paraphrased how Eric (the Dominion guy) responded, “Don’t worry about the election, Trump’s not gonna win. I made ******* sure of that!”

In the end, we will see what can be proven in court and what can’t be proven.

Apparently some big legal moves are about to be made, and I wouldn’t bet against Sidney Powell.

If Powell can pull this off, it will be the most shocking legal victory in the history of U.S. politics, and it will turn our country completely upside down.

*  *  *

Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.

end
My goodness:  Dominion Software confirms it madea donation to the Hillary Clinton Foundation
and they are not biased?
(Jacl Phillips/Epoch Times)

Dominion Confirms Clinton Foundation Donation, Pelosi Staffer Link

Authored by Jack Phillips via The Epoch Times,

Dominion Voting Systems has refuted claims about being biased toward Democratic officials during the Nov. 3 election, including allegations about a raid on a server in Germany as well as ties to Sen. Dianne Feinstein (D-Calif.).

However, it did note that it made a donation to the Bill- and Hillary Clinton-operated Clinton Foundation and did not dispute that a former staffer of House Speaker Nancy Pelosi (D-Calif.) was hired as a lobbyist.

In a lengthy statement, the Colorado-based voting systems provider first refuted that it has no ties to Smartmatic, another voting software maker, but it did note that the two firms worked together in the Philippines and said it bought some assets from Smartmatic-linked Sequoia about 10 years ago, adding that the two companies had legal disputes. Some Trump campaign officials made claims in recent interviews that Smartmatic had links to Dominion.

Dominion has been at the center of controversy since Election Day after Antrim County, Michigan, showed Joe Biden beating President Donald Trump before the results were reversed, with county officials saying the error was due to the county clerk not updating software.

The firm confirmed that it made a donation during a Clinton Global Initiative meeting in 2014, but it asserted that it has “no company ownership relationships with any member of the Pelosi family, the Feinstein family, or the Clinton Global Initiative, Smartmatic, Scytl, or any ties to Venezuela.”

Dominion linked to an AP report that noted that Pelosi Chief of Staff Nadeam Elshami “is part of a lobbying team representing Dominion, according to public disclosures,” adding that the team “includes Brian Wild, who counts Republicans such as former House Speaker John Boehner and former Vice President Dick Cheney among his past bosses.”

Trump campaign attorney Sidney Powell, over the weekend, alleged that Smartmatic and Dominion were used to bolster Biden over Trump.

“We’re getting ready to overturn election results in multiple states,” Powell said on Fox Business, adding that she has enough evidence of election fraud to launch a widespread criminal investigation. “I don’t make comments without having the evidence to back it up.”

“They can stick a thumb drive in the [voting] machine, they can upload software to it even from the Internet … from Germany or Venezuela even,” Powell said, adding that operations “can watch votes in real-time” and “can shift votes in real-time,” or alleged bad actors can “remote access anything.”

“We’ve identified mathematically the exact algorithm they’ve used—and planned to use from the beginning” that allegedly switched votes to Biden, Powell said.

Dominion has not responded to a request for comment about Powell’s claims.

Dominion again asserted that claims of voter fraud are “conspiracies” and are “100 percent false.”

The firm cited a statement made recently by the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA), which called the 2020 election the “most secure in American history.”

The agency failed to disclose, however, that Dominion Voting Systems is a member of CISA’s Election Infrastructure Sector Coordinating Council.

Meanwhile, Smartmatic, in a statement, said last week that it has no ties with Dominion.

A contractor for Dominion said in an affidavit last week that she witnessed fraudulent actions at the TCF Center in Detroit.

Melissa Carone said she saw workers count some ballots four or five times, and noticed that one of the counters had even counted a batch of ballots eight times.

 “I confronted my manager, Nick Ikonornakis, saying how big of a problem this was,” Carone said.

“Nick told me he didn’t want to hear that we have a big problem. He told me we are here to do assist with IT work, not to run their election.”

END

CURRENT LIST OF DOMINION RELATED FRAUD

    • #198627

      – Dominion serves 40% of the US market. It is in 30 states.
      – The state of Texas rejected the machines.
      – Admiral Peter Neffenger is on Biden’s transition team.
      – Peter Neffenger was the President and on the board of Smartmatic
      – Smartmatic entered into an agreement with Dominion in 2009
      – Smartmatic counted American votes in Venezuela
      – Smartmatic is connected to Philippine voter fraud
      – Smartmatic is run by Lord Mark Malloch Brown who works for George Soros.
      – Brown chairs the Boards of a number of non-profit boards including the Open Society Foundation,
      – Brown chairs the Centre for Global Development.
      – Open society of course is owned by George Soros
      – Smartmatic partnered with DLA Piper Global
      – Douglas C. Emhoff works at DLA Piper Global
      – Douglass C. Emhoff is Kamala Harris’s husband
      – Guess who owns Dominion? Blum Capital Partners, L.P. ***
      – Guess who is on the board for the company? Richard C. Blum. ***
      – Richard C. Blum is husband to Dianne Feinstein. ***
      – Nancy Pelosi’s husband is also an investor
      – An aide to Nancy Pelosi, Nadeam Elshami, was hired by the Dominion Voting Systems
      – Dominion Voting Systems is literally listed on the Clinton Foundation website.
      – “The DELIAN Project: Democracy through Technology” is the title of the page.
      – Georgia Governor Kemp purchased machines after Texas and Florida rejected
      – Dominion Voting has a lobbyist name Jared Thomas
      – Jared Thomas was Governor Brian Kemp’s chief of staff and press secretary from 2012 to 2015
      – You must remember the Feinstein-Kavanaugh-Soros connections to understand the depth
      – Debra Katz (Christine Ford’s lawyer) worked for George-Soros at the Open Society Foundation.
      – Debra Katz (Christine Ford’s lawyer) also worked at Project on Government Oversight (POGO).
      – POGO is funded by Soros’s Open Society Foundation.
      – POGO is the co-signer of the letter Diane Feinstein had on Kavanaugh.
      – Kamala Harris did not prosecute OneWest Bank for their fraud
      – Soros owned OneWest Bank.
      – Now you know why a woman who placed 7th in her state is a VP candidate

      *** These statements are in dispute. Feinstein has yet to deny them. In a financial disclosure, Feinstein has about 10 to 15 sub-companies. Who knows who owns what.

END

California Men Charged With Voter Fraud After Allegedly Submitting Thousands Of Applications For Homeless People

1 counts of voter fraud after allegedly submitting thousands of fraudulent voter registration applications on behalf of homeless people, according to NBC Los Angeles.

Carlos Antonio De Bourbon Montenegro, 53, and Marcos Raul Arevalo, 34, face one count of conspiracy to commit voter fraudeight counts of voter fraud, four counts of procuring and offering a false or forged instrument and four misdemeanor counts of interfering with the prompt transfer of a completed affidavit, according to the LA County District Attorney’s office.

Montenegro is also facing an additional 10 counts of voter fraud, seven counts of procuring and offering a false or forged instrument, two counts of perjury and five misdemeanor counts of interference with a prompt transfer of a completed affidavit.

The district attorney’s office says Montenegro submitted more than 8,000 fraudulent voter registration applications between July and October 2020. He’s also accused of “falsifying names, addresses and signatures on nomination papers under penalty of perjury to run for mayor in the city of Hawthorne.”

Montenegro faces a maximum sentence of 15 years and eight months in state prison, while Arevalo faces a maximum of seven years.

One has to wonder who were the men working for, and how many more operatives were doing the same thing? There are an estimated 151,000 homeless people in California – which means Montenegro and Arevalo would have covered over 5% of the state’s homeless population.

In February, nine people were charged with felonies for paying homeless people on Skid Row for their signatures on voter registration forms and official petitions.

The group was accused of offering one dollar and a cigarette per signature, according to NBC4.

This is voter fraud, which we talk about, and we know it exists, but it isn’t exactly something that patrol officers deal with,” said LAPD Detective Meghan Aguilar.

END

Even if Biden becomes President, Senate republicans say they will continue the Hunter Biden probe. However they will need an attorney general to lay charges.

Jack Phillips/Epoch Times

Senate Republicans Say They’ll Continue Hunter Biden Probe

Authored by Jack Phillips via The Epoch Times,

Sens. Chuck Grassley (R-Iowa) and Ron Johnson (R-Wis.), who headed a Senate investigation into Joe Biden’s family dealings, signaled they will continue their investigations in 2021 after the new Congress is sworn in.

“I’m not going to turn a blind eye” to the recent developments in the investigation, Johnson told The Hill, which claimed there is “limited appetite” among Republicans for a renewal of the probe.

“Tony Bobulinski coming forward, the computer being revealed, the FBI possibly starting an investigation. We had a hard enough time getting what evidence we got to even write a report, and then all of a sudden our report sort of opened up this logjam,” said Johnson, the head of the Senate Homeland Security Committee.

He was making a reference to Hunter Biden and James Biden—Joe Biden’s son and brother—and their overseas business dealings that became the subject of scrutiny and big tech censorship last month.

“I’m very confident there are probably more financial transactions that will probably be revealed,” Johnson added to the outlet.

Both Grassley, the head of the Senate Finance Committee, and Johnson have been investigating the Bidens’ business, namely in reference to Hunter’s reportedly lucrative position on the board of Ukrainian gas company Burisma Holdings, which has been long suspected of corruption.

Last month, the New York Post and other news outlets reported on a laptop that allegedly belonged to Hunter Biden, which contained an email from a Burisma advisor that suggested Hunter was trying to set up a meeting for his father when he was the vice president. The Biden campaign denied the meeting ever took place but later qualified that it might have happened in an unofficial capacity.

Senate Homeland Security and Governmental Affairs Chairman Ron Johnson (R-Wis.) speaks in Washington on Sept. 16, 2020. (Manuel Balce Ceneta/AP Photo)

Later, Bobulinski told Fox News’ Tucker Carlson that he was involved in business deals with the Biden family and met the former vice president on two occasions, pertaining to a deal with a Chinese Communist Party (CCP)-linked company CEFC. Biden’s campaign and Joe Biden have both denied knowing anything about Hunter Biden’s business dealings.

end

Amazon takes advantage of the COVID pandemic to start selling prescription drugs to prime customers

(zerohedge)

Amazon Starts Selling Prescription Drugs To Prime Customers

There’s an old saying: Never waste a good crisis. Well, Amazon CEO Jeff Bezos, the world’s richest man, isn’t letting COVID-19 pass without wringing all the juice from the lemon.

After years of quiet and consistent preparation, from acquiring PillPack, to filing for licenses and trademarks, Amazon is finally ready to launch its online pharmacy business. The company announced Tuesday that it will start selling prescription drugs to its prime customers, a move that was widely seen as the logical next step for the e-commerce behemoth.

In a surprise move, the online pharmacy is opening Tuesday, marking an aggressive move into the pharmacy industry in the middle of an unparalleled health crisis. Starting Tuesday, the company plans to start offering common items including creams, pills, and medications. But the real key here: Amazon will also be shipping prescriptions like insulin, which has temperature requirements (it needs to stay cold) like Pfizer’s COVID-19 vaccine.

Prime members who don’t have insurance can buy generic or brand name drugs – presumably with a prescription – at a ‘prime’ discount, the company said. Though most insurance will be accepted.

Walgreens, CVS and Rite Aid tumbled in pre-market trading on the news, leaving them set to open lower, as stocks look to give back some gains after the Dow (of which Walgreens is a member) reached record highs yesterday. Pharmacy stocks have sold off on every piece of news surrounding Amazon’s pharmacy gambit, as Jeff Bezos’ track record of success when moving into a new industry is unparalleled.

With state governors across the US imposing new coronavirus restrictions, we imagine millions of customers will scramble to switch their prescriptions over from CVS and Walgreens to Amazon, which could create problems for both in the near-term.

iv) Swamp commentaries)

This is good! An anti Trump enginner of Dominion Voting systems promises on a telephone call to’make sure Trump’s not gonna win”

(Smith)

Anti-Trump Engineer Of Dominion Voting Systems Said “I Made Sure Trump’s Not Gonna Win” In Secret Call With Antifa Claims Man Who Infiltrated Group

As claims are being made that voting systems created by a company called Dominion are linked to potential fraud in the 2020 election, a man who infiltrated Antifa now says he was in a conference call where an engineer from Dominion said he “made f**king sure” Trump wouldn’t win the election.

Dominion Voting Systems’ Vice President of U.S. Engineering Eric Coomer allegedly spoke with Antifa members on conference calls and reportedly assured the other participants by saying:

“Don’t worry about the election, Trump’s not gonna win. I made f**king sure of that!

Dominion Voting Systems is one of the largest voting technology companies in the United States.

It provides voting machines and tabulators to many local governments.

More than 30 states use these voting machines to scan ballots in US elections and tabulate votes.

Eric Coomer’s profile as director at Dominion Voting Systems was recently scrubbed from their website

Coomer joined Dominion as VP of engineering in 2010, according to the GWP.

His bio says he graduated from the University of California, Berkeley with a Ph.D. in Nuclear Physics.

Eric Coomer was later promoted to Voting Systems Officer of Strategy and Security although Coomer has since been removed from the Dominion page of directors.

In a stunning interview conducted by Michelle Malkin, FEC (Faith Education Commerce) United founder Joe Oltman reveals how he infiltrated Antifa.

While working undercover, Oltman says that he was involved in a conversation with Antifa members when he discovered “Eric from Dominion” was allegedly part of the chat during the week of September 27, 2020.

Oltman explained that “Eric” was telling the Antifa members they needed to “keep up the pressure.”

When Oltman asked, “Who’s Eric?” someone answered, “Eric, he’s the Dominion guy.”

Oltman said that as the conversation continued, someone asked, “What are we gonna do if F**king Trump wins?”

Oltman paraphrased how Eric (the Dominion guy) responded: “Don’t worry about the election, Trump’s not gonna win. I made f**king sure of that!”

After Oltman, who runs a data company, finished the call, he started to investigate “Eric from Dominion,” in Denver, CO, and came upon Eric Coomer.

Oltman admitted that it didn’t make sense that Eric Coomer would be the Antifa member on the call and that at the time, he knew nothing about Dominion Voting Systems.

It wasn’t until after he started hearing about Dominion Voting Systems in the news following the election that he remembered the remarks made by “Eric from Dominion” on the Antifa chat.

Oltman began digging into Eric Coomer, trying to find anything he could about him.

Oltman finally hit gold when he was able to (legally) access what he claims is Dominion VP, Eric Coomer’s Facebook page.

What he found was stunning.

Joe Oltman said he never saw such hate and vitriol coming from someone who has a Ph.D. in Nuclear Physics.

Oltman explained to Malkin that Coomer actually re-posted the Antifa manifesto to President Trump on his Facebook page.

The Gateway Pundit posted a copy of that Antifa letter to Trump in a previous report.

Joe Oltman was removed from Twitter this week.

His tweets on Eric Coomer upset big tech.

Oltman admits that by revealing this information about Coomer, he is putting himself in danger.

He may have a Ph.D. in Nuclear Physics, but when it comes to hiding his hatred for President Trump, Trump supporters, law enforcement, or even for Texans, Dominion’s Eric Coomer isn’t very smart.

In 2017, when Coomer was in Nevada, he mocked President Trump’s Election Integrity Commission on Facebook.

Coomer shared a Washington Post article titled, “The voting commission is a fraud itself. Shut it down.”

The article, written by the unhinged Trump hater Jennifer Rubin, was an attack on President Trump’s May 11, 2017, Executive Order on the Establishment of Presidential Advisory Commission on Election Integrity.

What about Trump’s Election Integrity Commission triggered Coomer?

Was it the part about “Vulnerabilities in voting systems and practices used for Federal elections that could lead to improper voter registrations and improper voting, including fraudulent voter registrations and fraudulent voting,” that caused Coomer to have a childish meltdown on his Facebook page?

Dominion’s Director of Strategy and Security’s response to Rubin’s article appears to be a bit unhinged: “And in other news…There be some serious fuckery going on right here fueled by our Cheeto-in-chief stocking lie after lie on the flames of [former Kansas Sec. of State Chris] Kobach…

“You want something serious to worry about? This is it.”

Here’s what Coomer had to say to his “friends” on Facebook on July 21, 2016, who are Trump supporters (language editted):

Facebook friend land- open call-

If you are planning to vote for the autocratic, narcissistic, fascists, ass-hat blowhard and his Christian jihadist VP pic, UNFRIEND ME NOW!

No, I’m not joking.

I’m all for reasoned political discourse and healthy debate- I’m looking at you ( 3 names of friends).

I disagree with you three on many philosophical grounds but respect your opinions.

Only and absolute F**KING IDIOT could ever vote for that wind-bag f**k-tard FASCIST RACIST F**K!

No bulls**t, I don’t give a damn if you’re friend, family, or random acquaintance, pull the lever, mark an oval, touch a screen for that carnival barker—UNFRIEND ME NOW.

I have no desire whatsoever to ever interact with you.

You are beyond hope, beyond reason. you are controlled by fear, reaction, and bulls**t. Get your s**t together.

Oh, it that doesn’t persuade you, F**K YOU! Seriously, this f**king ass-clown stands against everything that makes this country awesome!

You want in on that? You deserve nothing but contempt.

Coomer then appears to have second thoughts about covering his tracks, and edits his post to include a disclaimer:

These opinions are rational and completely my own.

They are based in reason and highly credible.

Though they are not necessarily the thoughts of my employer, though if not, I should probably find another job.

Who wants to work for complete morons?

None of my personal opinions affect my professional conduct or attitudes.

I am non-partisan.

According to Oltman, Eric Coomer isn’t a big fan of the police.

During his interview with Malkin, he shared several screenshots of anti-police rhetoric like an image a link to YouTube from the hip-hop song “Dead Prez.”

Here’s a portion of the lyrics from the “Dead Prez” song in case it’s not on your personal playlist:

Is there heaven for us hip-hop heathens
Big Pop and Pac, even Eazy had ’em leanin’
We all children lookin’ for a reason
What do you believe in, betrayal, treason?
I’m out for dead presidency
I’m out for dead presidency
I’m out for dead presidency
I’m out for dead f**kin’ presidents that represent me

end
Michigan House members are calling for the impeachement of nutcase Whitmer (Gov. of Michigan)

Michigan House Members Call To Impeach Gov. Whitmer

Authored by Annaliese Levy via SaraACarter.com,

Several Michigan lawmakers are calling for Gov. Gretchen Whitmer‘s impeachment after the announcement of the state’s new COVID-19 restrictions.

Under the new restrictions that are set to start Wednesday, Michigan high schools and colleges must halt in-person classes, indoor dining is no longer allowed at bars and restaurants, entertainment businesses must close for three weeks and gathering sizes also will be tightened.

Whitmer said the orders are issued lawfully under the Michigan Department of Health and Human Service.

Michigan state Rep. Matt Maddock believes otherwise and said that he and a “growing list of Michigan Legislators” will work to impeach Whitmer.

Maddock said fellow Republican state Reps. Daire Rendon, Beau LaFave, Ryan Berman, Shane Hernandez and John Reilly were among the lawmakers who would pursue Whitmer’s impeachment.

The group of lawmakers say they believe Whitmer has crossed the line.

Their statement, which was posted to Facebook, included a list of all the reasons he believed Whitmer deserved to be removed from office, including that she:

“Ignored court orders. Violated our Constitutional rights. Completely ignored due process and the legislature. Weaponized contract tracing databases to aid democrat campaigns.”

Tiffany Brown, a spokesperson from Whitmer’s office told TV5, responded by saying,

“Governor Whitmer doesn’t have any time for partisan politics or people who don’t wear masks, don’t believe in science, and don’t have a plan to fight this virus. Right now, she is focused on saving lives. The governor will continue to work hard for all 10 million Michiganders.”

In order to impeach a sitting governor in Michigan, a simple majority of the 110 member House of Representatives would need to vote to initiate impeachment hearings.

Republicans would hold 58 of the 110 house seats as of Jan. 1, 2021.

Two-thirds of the 38 member Senate would be needed to convict or remove the governor.

end

Emergency meeting:  is this where we learn of the contents of the computers seized in the CIA building in Franfurt

(Taylor/Gateway Pundit)

Report: President Trump’s Legal Team Summoned to White House for Emergency Meeting.

PShare

President Trump’s legal team was summoned to the White House Monday for a 2 p.m. meeting, according to a report by Newsmax White House correspondent Emerald Robinson.

Anchor Heather Childers: “Well the President’s legal team, we’re being told right now, breaking news for you, they’ve all been summoned to an emergency meeting at the White House at this hour right now.”

Robinson, “…Yes, Newsmax was told that the legal team was summoned to the White House for a 2 p.m. meeting. However I will tell you that the White House is not confirming such a meeting.”

TRENDING: LIVE-STREAM VIDEO… Breaking the Code: Exposing the 2020 Election Fraud with Dr. Shiva Ayyadurai, Joe Hoft and Jim Hoft from Gateway Pundit – Tuesday at 3 PM ET

Trump campaign statement on Pennsylvania referenced by Robinson at end of video clip.

SETTING THE RECORD STRAIGHT ON TRUMP CAMPAIGN’S PENNSYLVANIA LITIGATION

On Sunday night, the Washington Post ran a complete mischaracterization of the Trump campaign’s litigation in Pennsylvania, erroneously claiming the campaign had dropped the claim of nearly 700,000 ballots processed illegally and in secret. The campaign did no such thing. In fact, because of a Friday ruling by the Third Circuit Court of Appeals in an unrelated case, the campaign strategically decided to restructure its lawsuit to rely on claims of violations of the Equal Protection Clause of the 14th Amendment to the U.S. Constitution. The claim that 682,479 ballots were improperly processed and counted is still very much part of the suit.

Paragraph 4 of the amended filing reads: “Allegheny and Philadelphia Counties alone received and processed 682,479 mail-in and absentee ballots without review by the political parties and candidates. These are unprecedented numbers in Pennsylvania’s elections history. Rather than engaging in an open and transparent process to give credibility to Pennsylvania’s brand-new voting system, the processes were hidden during the receipt, review, opening, and tabulation of those 682,479 votes.” See also paragraphs 132-150.

Is it time to “Release The Kraken?”
Yes No

References to the improperly counted ballots are repeated throughout the filing, with paragraph 150 specifically stating that all factual allegations in the preceding paragraphs are incorporated within the Equal Protection claim.

“We are still arguing that 682,479 ballots were counted illegally, in secret,” said Tim Murtaugh, Trump 2020 communications director. “Our poll watchers were denied meaningful access to watch the vote counting and we still incorporate that claim in our complaint. Unfortunately, fake news activists rushed to print their clickbait headlines, apparently without even reading the lawsuit. That’s lazy journalism at best, but more likely intentionally misleading.”

Rudy Giuliani, personal attorney to President Trump and coordinator of the campaign’s legal strategy, said, “It’s routine for attorneys to file amended complaints to tighten the claims. We simplified the suit so it is more focused and narrowed. This is part of the process. Clearly the reporters at Washington Post have a reading deficit.”

The lawsuit also claims violations of the Equal Protection Clause because some voters who mailed in ballots in Philadelphia were alerted by election workers that their ballots may have contained mistakes or defects that would cause them to be rejected. Those voters were given the opportunity to cast provisional ballots in the event that their mailed ballots were thrown out. Voters in other counties of Pennsylvania were not afforded that same opportunity. In addition, since the Philadelphia voters were forewarned that their ballots could be defective, it is an indication that poll workers were pre-canvassing those ballots prior to Election Day, which would be a clear violation of Pennsylvania law

end

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

@ABC: President-elect Joe Biden: “We’re going into a very dark winter. Things are going to get much tougher before they get easier. That requires sparing no effort to fight COVID.” https://abcn.ws/3kKtPSN

    President-elect Joe Biden on call with corporate executives: “I said, ‘I want you to know I’m a union guy. Unions are going to have increased power.’ They just nodded. They understand.”  https://abcn.ws/3kKtPSN

@CBSNews: Biden says in a meeting today with business and union leaders, “they all agreed” a national strategy for COVID-19 is essential to getting the economy back on track: “Things are going to get much tougher before they get easier…It’s going to be difficult, but it can be done.”

https://twitter.com/CBSNews/status/1328434277051211787

@DailyCaller: Joe Biden says that “more people may die” from coronavirus because President Trump is holding up the transition   https://twitter.com/DailyCaller/status/1328436872352247809

The rally stalled on Biden’s dire prediction as well as his assertion that corporation will now pay their fair share of taxes.  When Biden finished near 15:45 ET, the rally resumed. The rally was tepid until someone juiced ESZs and stocks with 3 minutes remaining in the session.  The only news that we saw was reports that Trump had made an emergency call for his legal team and a massive legal filing was imminent.

Hong Kong mogul Jimmy Lai: ‘At least we fought, we showed our dignity’ – Tycoon who angered Beijing talks about Hong Kong’s uncertain future, backing Trump and never giving in…

https://www.ft.com/content/507751fa-6945-4d9d-a42a-effeb040492e

Fox’s @jason_donner: Sen. McConnell on Sen. Floor: There is no time to waste. Kentucky just announced our highest every weekly count of new positive cases. The numbers are troubling in places all across our country. So for now, our job is to continue doing all we can to stay safe and slow the spread.

Bidenomics forecast: Blue skies, or ‘cloudy with a chance of Great Depression’?

Biden promises “a plan to create millions of good-paying jobs, make it easier for workers to organize unions and collectively bargain.”… Biden will “raise taxes, he’ll increase regulations, he’ll do bad trade deals — globalist — send our supply chains back offshore, he’ll slash defense spending, and he’ll dry up our oil wells,” Trump administration senior trade advisor Peter Navarro told “Just the News AM”… “Your gas prices will go up, and we’ll be back in the ’70s. Not a pretty picture.”…  https://t.co/dQgtuaXdQi

Law professor and outspoken advocate for reparations joins Biden Treasury transition team

Professor Mehrsa Baradaran has applied pressure to Joe Biden and Kamala Harris to openly embrace a reparations plan for black Americans

https://justthenews.com/government/white-house/law-professor-and-outspoken-advocate-reparations-joins-biden-treasury

I don’t need to you to get me elected; I need you once I’m elected.” – Joe Biden

https://twitter.com/DisclosureBP/status/1328104929957797890

We have put together, I think the most extensive and inclusive voter fraud organization in the history of American politics.” – Joe Biden   https://twitter.com/DisclosureBP/status/1328105225123577856

Detroit Dominion IT worker describes exactly how poll workers inflated Biden vote tallies (Video)

Detroit IT worker Melissa Carone, who was employed by Dominion Voting Systems as a contractor to keep an eye on ballot-counting machines, says she witnessed poll workers at the TCF Center repeatedly run the same batches of 50 ballots through counters sometimes up to eight, nine, 10 times…she said only saw ballots marked for Biden during her entire 24-hour shift – not a single ballot for President Trump.  She also testified that there was no legitimate, legal oversight of the balloting process – that Democrats were essentially ‘watching’ Democrats. She also says she saw poll workers duplicating ballots while changing the votes on others, stealing results in the open

https://trendingpolitics.com/detroit-dominion-it-worker-describes-exactly-how-poll-workers-inflated-biden-vote-tallies-video/

@CodeMonkeyZ: Did you know that Dominion’s voting software “Allows staff to adjust tally based on review of scanned ballot images“? Their words, not mine:   https://t.co/B5ClJCLo1w

Former Dominion Project Manager Who Helped Execute $25 Million Contract With State Of MI Was Democrat Mayor At Same Time   https://100percentfedup.com/breaking-former-dominion-project-manager-who-helped-execute-25-million-contract-with-state-of-mi-was-democrat-mayor-at-same-time/

@joshdcaplan: Elections director asked to resign after 2,600 ballots not initially counted in Floyd County, Georgia –  WSBTV

@RealAPolitics: Biden Absentee Vote Lead in each Midwest State: IA – 15.9%, OH – 16.3%, MI -37.9%, PA – 57.7%, IL – 24.7%. IN -13.7%   Something doesn’t add up here!

DJT Atty @AdamLaxalt: The Clark County Commission [NV] just threw out an election that represents almost 1/6 of the total votes cast in Clark County because there were too many “discrepancies” to be sure that that the results in that election can be certain. 153K votes in this election.

@realDonaldTrump: Big victory moments ago in the State of Nevada. The all Democrat County Commissioner race, on same ballot as President, just thrown out because of large scale voter discrepancy. Clark County officials do not have confidence in their own election security. Major impact!

‘If you have to sleep with her, do it’: a Hunter Biden-linked firm’s pursuit of Russian money

Emails chronicle effort to secure investment, create U.S. bank account for Russian oligarch.

    The memos, obtained by Just the News, show Hunter Biden’s primary business partner, Devon Archer, and business associates Jason Galanis and Bevan Cooney, began working in November 2013 to overcome regulatory and compliance issues so they could take the Russian billionaire’s money in one of their companies, called Burnham…Galanis emailed Archer on Jan. 5, 2014 stating that his “go-between” is “raring to go on Yelena.” The intermediary will “need her paperwork” and “will get her a JPMorgan [account],” the email stated…

https://justthenews.com/accountability/russia-and-ukraine-scandals/documents-biden-business-partners-helped-russian

John Solomon @jsolomonReports: I see these reports that Durham is folding up shop and not pursuing any further investigation. My reporting conflicts with that. I am seeing extensive investigative efforts under way. I don’t get a sense it is over. In fact I suspect we may see actions soon from the probe.

@AriFleischer: First question to Biden as his “news conference” is a softball about what Trump is doing wrong.  Get ready for four years of softballs thrown to Biden.

Well that is all for today

I will see you WEDNESDAY night.

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