NOV 24//LAST DAY FOR COMEX OPTIONS EXPIRY//THEN WE HAVE MONDAY OTC/LMBA OPTIONS//MASSIVE INCREASE IN GOLD TONNAGE STANDING AT THE COMEX: 26.79 TONNES/GOLD DOWN $33.00 TO $1807.25//SILVER DOWN 33 CENTS TO $23.29//OPEN INTEREST FOR THE UPCOMING DECEMBER CONTRACT IN GOLD AND SILVER EXTREMELY HIGH//CORONAVIRUS UPDATES THROUGHOUT THE GLOBE//CHINA VS USA CHINA DICTATES WHAT THEY WANT FROM BIDEN//ELECTION STORIES//SWAMP STORIES//

GOLD:$1807.25 DOWN  $33.00   The quote is London spot price

Silver::$23.29  DOWN $.33   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1807.50  LONDON SPOT  4:30 pm

ii)SILVER:  $23.29//LONDON SPOT  4:30 pm

these people voted for Biden/Harris ticket!

Image

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  $1801.30.   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $6.25/ BACKWARD   // GOOD FOR EFP ISSUANCE//GOOD FOR EUROPEANS TO BUY COMEX GOLD///

FEB GOLD:  1810.60 CLOSE 1:30 PM  SPREAD SPOT/FUTURE:  $3.35 CONTANGO//$2.65 BELOW NORMAL CONTANGO

CLOSING SILVER FUTURE MONTH

SILVER DECEMBER  CLOSE:     $23.30  1:30  PM SPREAD SPOT/FUTURE DEC.       :   1  CENT PER OZ  CONTANGO (   1 CENT ABOVE NORMAL CONTANGO

SILVER MARCH CLOSE:  24.41/SPREAD SPOT/FUTURE:  A   12 CENTS

3 CENTS ABOVE NORMAL CONTANGO

XXXXXXXXXXXXXXXXXXXXXXXXX

COMEX DATA

wow!!looks like the Fed through JPMorgan is bailing out the comex:

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

receiving today: 0/769

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,837.800000000 USD
INTENT DATE: 11/23/2020 DELIVERY DATE: 11/25/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
657 C MORGAN STANLEY 6
657 H MORGAN STANLEY 50
661 C JP MORGAN 710
709 C BARCLAYS 767
880 C CITIGROUP 1
905 C ADM 3 1
____________________________________________________________________________________________

TOTAL: 769 769
MONTH TO DATE: 8,613

issued:710

GOLDMAN SACHS STOPPED 0 CONTRACTS.

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 769 NOTICE(S) FOR 76,900 OZ  (2.3919 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  8613 NOTICES FOR 861,300 OZ  (26.7900 tonnes) 

SILVER//NOV CONTRACT

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

total number of notices filed so far this month: 786 for 3,930,000  oz

BITCOIN MORNING QUOTE  $18932   UP 788

BITCOIN AFTERNOON QUOTE.  :$19,3100  UP 727 DOLLARS .

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THESE TWO VEHICLES ARE ABSOLUTE FRAUDS AND HAVE NOWHERE NEAR THE METAL THEY CLAIM THEY HAVE!

GLD AND SLV INVENTORIES:

WITH GOLD DOWN $33.00 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

A HUGE  CHANGE IN GOLD INVENTORY AT THE GLD

A WITHDRAWAL OF 7.00 TONNES FROM THE GLD

INVENTORY RESTS AT:

GLD: 1,213.17 TONNES OF GOLD//

WITH SILVER DOWN 33CENTS TODAY: AND WITH NO SILVER AROUND:

A HUGE CHANGES IN SILVER INVENTORY AT THE SLV

A WITHDRAWAL OF 10.322 MILLION OZ FROM THE SLV

INVENTORY RESTS AT:

SLV: 550.215  MILLION OZ./

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Let us have a look at the data for today

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IN SILVER THE COMEX OI FELL BY A SMALLER THAN EXPECTED  1569 CONTRACTS FROM 164,985 DOWN TO 163,416, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE SMALLER LOSS IN OI OCCURRED DESPITE OUR HUGE FALL  OF $0.70 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE LOSS IN COMEX OI IS  DUE TO CONSIDERABLE BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A TINY EXCHANGE FOR PHYSICAL. WE  HAD SMALL LONG LIQUIDATION, AND A SMALL INCREASE IN  STANDING AT THE COMEX FOR NOV.  WE HAD A SMALL LOSS IN OUR TWO EXCHANGES OF 1329 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A TINY  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  240, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  240, MARCH 0 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  240 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.

3.940 MILLION OZ INITIAL STANDING IN NOV.

MONDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL $.70) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  SOMEWHAT SUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME SILVER LONGS AS WE HAD A  SMALL LOSS IN OUR TWO EXCHANGES (1329 CONTRACTS). NO DOUBT THE LOSS IN OI ON THE TWO EXCHANGES WAS DUE TO i) STRONG BANKER/ STRONG ALGO SHORT COVERING.  WE ALSO HAD  ii)  A TINY ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A SMALL GAIN  IN SILVER OZ STANDING  FOR NOV, iii) CONSIDERABLE COMEX LOSS  AND  iv) SOME  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:

11,037 CONTRACTS (FOR 17 TRADING DAY(S) TOTAL 11,037 CONTRACTS) OR 55.185 MILLION OZ: (AVERAGE PER DAY: 649 CONTRACTS OR 3.246 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF NOV: 55.185 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 7.46% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,584.47 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                    55.185 MILLION OZ (STARTING TO SLOW DOWN AGAIN)

RESULT: WE HAD A CONSIDERABLE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1440, DESPITE OUR HUGE $0.70 FALL IN SILVER PRICING AT THE COMEX ///MONDAY.…THE CME NOTIFIED US THAT WE HAD A TINY SIZED EFP ISSUANCE OF 240 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE LOST A SMALLER THAN EXPECTED  1200 OI CONTRACTS  ON THE TWO EXCHANGES (DESPITE OUR HUGE  $0.70 FALL IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 240 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A CONSIDERABLE SIZED DECREASE OF 1569 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.70 FALL IN PRICE OF SILVER/AND A CLOSING PRICE OF $23.62 // 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. 0.8245 BILLION OZ TO BE EXACT or 118% of annual global silver production (ex Russia & ex China).

FOR THE NEW NOV  DELIVERY MONTH/ THEY FILED AT THE COMEX: 1 NOTICE(S) FOR 5,000 OZ OF SILVER.

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

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A CONSIDERABLE SIZED 4901 CONTRACTS TO 563,693 AND CLOSER TO OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE GAIN IN COMEX OI OCCURRED DESPITE OUR LOSS IN PRICE  OF $33.90 /// COMEX GOLD TRADING//MONDAY.WE  HAD SOME BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AND ANOTHER POWERFUL  GAIN IN GOLD OUNCES STANDING AT THE COMEX….THIS ALL HAPPENED WITH OUR LOSS IN PRICE OF $33.95. 

WE HAD A VOLUME OF 49    4 -GC CONTRACTS//OPEN INTEREST  10//

WE HAD A HUGE SIZED GAIN OF 10,440 CONTRACTS  (32.47 TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A FAIR SIZED 4276 CONTRACTS:

CONTRACT .  DEC: 4276; FEB: 0  ALL OTHER MONTHS ZERO//TOTAL: 4276.  The NEW COMEX OI for the gold complex rests at 563,693. 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 HUGE SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9177 CONTRACTS: 4901 CONTRACTS INCREASED AT THE COMEX AND 4276 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 9177 CONTRACTS OR 28.544 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4276) ACCOMPANYING THE CONSIDERABLE SIZED GAIN IN COMEX OI  (4901 OI): TOTAL GAIN IN THE TWO EXCHANGES: 9177 CONTRACTS. WE NO DOUBT HAD   1)  SOME BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2.)ANOTHER POWERFUL INCREASE IN OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT NOV. MONTH TO 26.933 TONNES3)  ZERO LONG LIQUIDATION ;4) CONSIDERABLE COMEX OI GAIN AND 5) FAIR SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS OCCURRED WITH  OUR HUGE  LOSS IN GOLD PRICE TRADING/MONDAY//$33.95.

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 : 50,574 CONTRACTS OR 5,057,400 oz OR 157.30 TONNES (17 TRADING DAY(S) AND THUS AVERAGING: 2974 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 17 TRADING DAY(S) IN  TONNES: 157.30  TONNES

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

THUS EFP TRANSFERS REPRESENTS 157.30/3550 x 100% TONNES =4.43% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,820.03 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:                        157.30 TONNES (SLIGHTLY INCREASING AGAIN) 

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

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A SMALLER THAN EXPECTED  1569 CONTRACTS FROM 164,985 DOWN TO 163,416 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

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

EFP ISSUANCE 240 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 240 AND MARCH:  0  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 240 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 1440 CONTRACTS TO THE 240 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A SMALLER THAN  EXPECTED LOSS OF 1329 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 6.645 MILLION  OZ, OCCURRED WITH OUR $0.70 LOSS 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 11.67 POINTS OR .34%   //Hang Sang CLOSED UP 102.00 POINTS OR .39%    /The Nikkei closed UP 638.22 POINTS OR 2.50%%//Australia’s all ordinaires CLOSED UP 1.23%

/Chinese yuan (ONSHORE) closed /Oil UP TO 43.46 dollars per barrel for WTI and 46.39 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5853. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5859 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  ROSE BY BY A CONSIDERABLE SIZED 4901 CONTRACTS TO 563,693 MOVING CLOSER TO  OUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX INCREASE OCCURRED WITH OUR HUGE LOSS OF $33.95 IN GOLD PRICING MONDAY’S COMEX TRADING/). BASICALLY, THE GOOD GUYS GOBBLED UP ALL THE CONTRACTS OFFERED AND NOBODY LEFT THE GOLD ARENA!! WE ALSO HAD A FAIR EFP ISSUANCE (4276 CONTRACTS).  WE THUS HAD  1)  CONSIDERABLE BANKER SHORT COVERING// ALGO SHORT COVERING//,  2)  ZERO  LONG LIQUIDATION  AND 3)  ANOTHER MONSTER GAIN  IN GOLD STANDING AT THE  COMEX  ( NOW STANDING AT 26.933 TONNES)//NOV. DELIVERY MONTH (SEE BELOW) …  AS WE ENGINEERED A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 10,440 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 49    4 -GC VOLUME//open interest LOWERS  TO 10

(SOMEBODY IS AFTER GOLD NO MATTER WHERE THE GOLD IS!. THIS GOLD,  4 GC,   IS IN LONDON)

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 4276 EFP CONTRACTS WERE ISSUED:     DEC 4276; FEB// ’21 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4276  CONTRACTS.

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

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

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 9177 TOTAL CONTRACTS IN THAT 4276 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A CONSIDERABLE SIZED 4901 COMEX CONTRACTS.. THE BIG NEWS IS THE GIGANTIC LEVEL OF NOV 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((26.933 TONNE) AS NOVEMBER IS A NON ACTIVE AND GENERALLY A VERY POOR DELIVERY MONTH. LADIES AND GENTLEMEN, OUR COMEX IS OFFICALLY UNDER ASSAULT.

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $33.95).  AND, THEY WERE   UNSUCCESSFUL IN FLEECING ANY LONGS. AS MENTIONED ABOVE THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED   28.544 TONNES,

NET GAIN ON THE TWO EXCHANGES :: 9177 CONTRACTS OR 917,000 OZ OR  28.544  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:  563,693 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.36 MILLION OZ/32,150 OZ PER TONNE =  1753 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1753/2200 OR 79.68% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY: 472,388 contracts// volume good but raid, spreader liquidation,rolls ////they are bailing out of gold comex faster than fox news viewers.

CONFIRMED COMEX VOL. FOR YESTERDAY:  444,991 contracts//  volume:  good but raid/rolls/spreader liquidation

/most of our traders have left for London

NOV 24 /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
161,105.054 oz
Brinks
5.01 tonnes
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz 205,636.01
OZ

(6.396 tonnes)

BRINKS

Malca

incl 40000 kilobars//Malca

No of oz served (contracts) today
769 notice(s)
 76,900 OZ
(2.3919 TONNES)
No of oz to be served (notices)
46 contracts
(1,424,800 oz)
0.1430 TONNES
Total monthly oz gold served (contracts) so far this month
8613 notices
861,300 OZ
26.7900 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 2 deposit into the customer account

i) Into JPMorgan:  nil oz

ii) Into Malca:  128,604.000 oz  (4,000 kilobars)

iii) Into Brinks:  77,032.01 oz

total customer deposit: 205,636.01 oz  oz

6.4 tonnes

we had 1 gold withdrawals from the customer account:

i) Out of Brinks:  161, 105.054 oz

5.1 tonnes

total withdrawals:  161,105.054 oz

We had 1  kilobar transactions  +

ADJUSTMENTS: 1 // 

out of Brinks//  32,199.260 oz   dealer to customer.

The front month of NOV registered a total of 815 contracts for a LOSS of  1089 contracts.  We had 1891 notices filed on Monday so we gained 802 contracts or 80,200 additional oz of gold will stand in this non active month of November.  There is now no question that we are experiencing a massive onslaught at the gold comex.  This is a new record(gold deliveries) for a November month. If you think that this is high, you can just imagine what will stand in December. 

The big December contract lost ONLY  43,290 contracts down to 153,719 contracts.  We will be watching December closely.  We have just 3 more reading days before we reach the huge December delivery month.  January GAINED 259 contracts to stand at 3920 contracts. FEBRUARY gained a STRONG 45,454 contracts UP TO 299,127. WE  ARE STILL WITNESSING THE ALGOS LEAVE THE DECEMBER ARENA. WE NOW SEE THAT MANY OF OUR EUROPEAN LONGS REFUSE TO BUCKLE AND THEY WILL TAKE DELIVERY AND REMOVE PHYSICAL GOLD FROM NY AND SHIP TO THEIR SHORES.

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR NOVEMBER (26.933 tonnes). GENERALLY  NOVEMBER IS A VERY POOR DELIVERY MONTH AS MOST INVESTORS PREFER TO SKIP THIS MONTH AND MOVE STRAIGHT TO DECEMBER. I WROTE THIS YESTERDAY AND THESCENARIO PRESENTED SEEMS  LIKE IT IT WILL HAPPEN:” IT LOOKS LIKE SOME MAJOR ENTITIES (MAJOR EUROPEAN BANKS) 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 THEIR INITIAL CONTRIBUTION. OTHER MAJOR PLAYERS ON THAT SIDE OF THE POND ARE ALSO JOINING IN ON THE ASSAULT. AS MENTIONED ABOVE THE GOLD COMEX IS EXPERIENCING A MASSIVE ONSLAUGHT FOR METAL”

We had  769 notice(s) filed today for  76900 oz OR 2.3919 TONNES.

FOR THE NOV 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  710 notices were issued from their client or customer account. The total of all issuance by all participants equates to 769  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 (8613) x 100 oz , to which we add the difference between the open interest for the front month of  NOV (815 CONTRACTS ) minus the number of notices served upon today (769 x 100 oz per contract) equals 865,900 OZ OR 26.933 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 (8613, x 100 oz +815 OI) for the front month minus the number of notices served upon today (769) x 100 oz which equals 865,900 oz standing OR 26.933 TONNES in this  active delivery month. This is a GIGANTIC 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 802 contracts or an additional 80,200 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)

280,010.045 oz  JPM  8.70 TONNES

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

88,796.123 oz Pledged August 21/regular account 1.588 tonnes jpm

total pledged gold:  1,638,791.373 oz                                     50.97 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. 26.933 tonnes

CALCULATION OF REGISTERED GOLD THAT CAN BE SETTLED UPON:

total registered or dealer  17,327,955.156 oz or 538.97 tonnes
total weight of pledged:  1,638,791.373 oz or 50.97 tonnes
thus:
registered gold that can be used to settle upon: 15,689,164.0  (487,99 tonnes)
true registered gold  (total registered – pledged tonnes  15,689,164.0 (487.99 tonnes)
total eligible gold:  20,213,330.405 oz (628.71 tonnes)

total registered, pledged  and eligible (customer) gold  37,541,285.561 oz 1,167.69 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1041.35 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 24/2020

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
624,225.694 oz
CNT
JPM
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
1,163,221.580 oz
Loomis
Int.Delaware
No of oz served today (contracts)
1
CONTRACT(S)
(5,000 OZ)
No of oz to be served (notices)
2 contracts
 10,000 oz)
Total monthly oz silver served (contracts)  786 contracts

3,930,000 oz)

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

total dealer deposits: nil      oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

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

i )Into JPMorgan: nil oz

JPMorgan now has 190.124 million oz of  total silver inventory or 49.44% of all official comex silver. (190.124 million/384.542 million

ii) Into Int. Delaware:  584,491.580 oz

iii) Into Loomis: 578,730.000 oz ???

total customer deposits today:  1,163,221.580    oz

we had 2 withdrawals:

i)Out of  CNT:  24,684.600 oz
ii) Out of JPMoran: 599,545.094

total withdrawals;624,225.694    oz

We had 0 adjustment

Total dealer(registered) silver: 143.942 million oz

total registered and eligible silver:  384.542 million oz

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November saw a GAIN OF 1 notices RISING to 3 contracts. We had 0 notices filed on Monday so we gained 1 contracts or 5,000 additional silver oz will stand in this non active delivery month of November.

December saw a LOSS of ONLY 8880 contracts DOWN to 43,193 contracts. January saw a GAIN of 143 contracts UP to 502. MARCH  gained 6792 contracts up to 103,467.

We have 3 more reading days before first day notice. It sure looks like we are going to have a monster delivery for silver as well.

The total number of notices filed today for the NOV 2020. contract month is represented by 1 contract(s) FOR 5,000 oz

To calculate the number of silver ounces that will stand for delivery in NOV we take the total number of notices filed for the month so far at 786 x 5,000 oz = 3,930,000 oz to which we add the difference between the open interest for the front month of NOV(3) and the number of notices served upon today 1x (5000 oz) equals the number of ounces standing.

Thus the NOV standings for silver for the NOV/2019 contract month: 786 (notices served so far) x 5000 oz + OI for front month of NOV( 1)- number of notices served upon today (1) x 5000 oz of silver standing for the NOV contract month .equals 3,940,000 oz. ..VERY STRONG FOR A NON ACTIVE  NOV MONTH.

WE GAINED 1 CONTRACTS OR AN ADDITIONAL 5,000 OZ WILL STAND FOR DELIVERY AT THE COMEX AND FORGO ANY FIAT BONUS AS THEY SEARCH FOR METAL ON THIS SIDE OF THE POND VS LONDON. SEEMS THAT WE HAVE A WHALE COMING AFTER COMEX SILVER 

TODAY’S ESTIMATED SILVER VOLUME 143,817 CONTRACTS // volume huge//raid

FOR YESTERDAY 136,000  ,CONFIRMED VOLUME// huge raid//

YESTERDAY’S CONFIRMED VOLUME OF 136,000 CONTRACTS EQUATES to 0.423 billion  OZ 60.4% 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- 4.82% ((Nov 24/2020)

2. Sprott gold fund (PHYS): premium to NAV  FALLS TO -2.73% to NAV:   (NOV24/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/4.82% (Nov 24)

(courtesy Sprott/GATA

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

NAV 18.50 TRADING 17.73///NEGATIVE 4.16

END

And now the Gold inventory at the GLD

NOV 24/WITH GOLD DOWN $33.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 7.00 TONNES FROM THE GLD//INVENTORY RESTS AT 1213.17 TONNES

NOV 23/WITH GOLD DOWN $33.95 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.9 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 1220.17 TONNES

NOV 20/WITH GOLD UP $11.10 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD// A WITHDRAWAL  (ROBBERY) OF 1.74 TONNES FROM THE GLD//INVENTORY RESTS AT 1217.26 TONNES

NOV 19/WITH GOLD DOWN $9.80 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 7.30 TONES FROM THE GLD////INVENTORY REST AT 1219.00 TONNES

NOV 18/WITH GOLD DOWN $13.50 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.10 TONNES FROM THE GLD INVENTORY//INVENTORY RESTS AT 1226.30 TONNES

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

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Inventory rests tonight at

NOV24/ GLD INVENTORY 1213.17 tonnes

LAST;  954 TRADING DAYS:   +269.71 TONNES HAVE BEEN ADDED THE GLD

LAST 854 TRADING DAYS// +447.19  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory

NOV 24/WITH SILVER DOWN 33 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 10.322 MILLION OZ FROM THE SLV..//INVENTORY REST AT 550.215 MILLION OZ

AND IF ANYBODY BELIEVES THIS GARBAGE, WE HAVE A GREAT PROPERTY TO SELL YOU (FLORIDA SWAMP LANDS).

NOV 23/WITH SILVER DOWN $.70 TODAY: A HUGE CHANGE IN SILVER AT THE SLV; A WITHDRAWAL OF 2.046 MILLION OZ FROM//INVENTORY RESTS AT 562.583 MILLION OZ

NOV 20//WITH SILVER UP $0.32 TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 52.583 MILLION OZ//

NOV 19/WITH SILVER DOWN 35 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV:2 TRANSACTIONS:1) A WITHDRAWAL OF 1.396 MILLION OZ AND 2). 2.602 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 562.583 MILLION OZ

NOV 18/WITH SILVER DOWN 23 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1581 MILLION OZ FROM THE SLV…//INVENTORY RESTS AT 566.581 MILLION O

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//

NOV 24.2020:

SLV INVENTORY RESTS TONIGHT AT  550.215 MILLION OZ/

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

[ChartWatch] Biden Transition and Vaccine Hopes Weigh on Gold for Now

Today we are taking our monthly look at the charts for gold and silver.

We have now received news of 3 Covid19 vaccines that are seeking approval following successful trials and markets have sat up and listened.

Investors have moved in to “Risk On” mode as a result of the vaccine developments and also on signs that the transition to the Biden administration is now progressing better than previously. While stock markets, oil markets and cryptos have benefitted from this renewed positive sentiment, the precious metals have been sold down as a result.

First let’s take a look at the gold price chart…

GoldCore Gold Chart

The support level at $1,860 which had help on a number of occasions recently, eventually succumbed to the positive news cycle and heavy selling.

Intra-day today the next support level at $1,810 was breached and gold traded down to the 200 Day Moving Average at approx. $1,795.

We will be watching closely to see if gold can rally from here and close the day above $1,810 or the $1,795 level. Failure to do so may open up the opportunities get in to the market at lower levels near the next support at $1,750.

GoldCore Silver Chart

Meanwhile, silver is trying hard to stay above support at $22.75. As we have mentioned before, a breach of this level could present further opportunities to buy silver at lower prices as there is little in the way of technical support nearby, below here.

A breach of $22.75 could set up a test of support of $21.20 or $19.50 below this.

What You Need to Know about “The Great Reset”

However, if silver holds and rallies from here it would be further evidence of a strong consolidation which would build a nice base for the next inevitable leg higher for the white metal.

The news cycle is moving very fast at the moment and with the vaccine news circulating widely this may lead to complacency in behaviour, which in turn may see a rise in Covid19 cases. Regardless of anyone’s individual view on the management of the virus or political persuasions, we can guarantee that policy makers will act to further contain the spread of the virus if this happens. This will have unintended consequences for our economies, and financial markets and the short-term positive news cycle will change very quickly once again.

More important than the short-term vagaries of the markets are the long-term market developments. In this months episode of The Goldnomics Podcast we discuss “The Great Reset” and how it will effect investors and what to do about it. You can listen to the full episode here or by clicking the video below.

NEWS and COMMENTARY

Gold extends slide as investors shift to ‘risk on’ mode

Dow rises for a second day, gains more than 300 points as Trump administration begins transition

Stocks and oil ride high on Biden transition and vaccine hopes

Watch Our Latest Video Update on YouTube

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

23-Nov-20 1863.80 1840.20 1394.31 1378.49 1568.760 1552.02
20-Nov-20 1867.00 1875.70 1406.04 1412.21 1575.00 1580.46
19-Nov-20 1857.40 1857.35 1405.87 1404.16 1570.99 1569.46
18-Nov-20 1877.20 1876.10 1412.59 1411.20 1579.66 1580.99
17-Nov-20 1885.40 1889.05 1424.61 1425.29 1588.83 1591.52
16-Nov-20 1892.60 1885.60 1436.67 1430.98 1598.11 1594.84
13-Nov-20 1878.20 1890.90 1425.93 1437.08 1588.02 1600.27
12-Nov-20 1868.00 1874.85 1415.57 1424.70 1581.08 1589.31
11-Nov-20 1876.20 1860.95 1415.41 1408.37 1591.02 1583.48
10-Nov-20 1874.90 1878.70 1416.49 1417.48 1589.54 1590.13

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

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

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Stephen Flood
Chief Executive Officer
end

ii) Important gold commentaries courtesy of GATA/Chris Powell

The Fed put is here to stay until we put them 6 feet under

(Bloomberg/GATA)

Brian Chappatta: The Fed put is here to stay

 Section: 

Fed’s ETF Purchases Have Changed Markets Forever

By Brian Chappatta
Bloomberg News
Monday, November 23, 2020

Last week’s public spat between Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell may have set an end date for the central bank’s unprecedented intervention in U.S. credit markets. But make no mistake — the legacy of this episode will most likely permanently change investors’ mindset during periods of crisis.

In particular, the Fed’s swift purchases of corporate-bond exchange-traded funds set a clear precedent for the type of policy response that traders can expect during the next period of economic distress — or what section 13(3) of the Federal Reserve Act calls “unusual and exigent circumstances.”

In contrast to the central bank’s Main Street Lending Program and Municipal Liquidity Facility, which didn’t get many takers, the Secondary Market Corporate Credit Facility revved up in a hurry and provided an even stronger backstop to financial assets than traders saw coming. …

… For the remainder of the commentary:

https://www.bloomberg.com/opinion/articles/2020-11-23/fed-s-etf-purchase…

END

The USA dollar continues to fall as vaccine optimism wanes

(Bloomberg)

Dollar falls to 2018 lows as vaccine optimism damps haven demand

 Section: 

By Ruth Carson and Greg Ritchie
Bloomberg News
Monday, November 23, 2020

The dollar dropped to a 2 1/2-year low as the prospect of vaccine rollouts added to headwinds for the world’s reserve currency.

The Bloomberg Dollar Spot Index fell as much as 0.2% to an April 2018 low after U.S. officials said vaccinations may start in less than three weeks. The pound and the Norwegian krone led gains against the greenback Monday, while the yield on 10-year U.S. Treasuries rose three basis points to 0.86%.

“The vaccine news is favoring the view of a sooner-rather-than-later global economic recovery with the USD losing its safe-haven appeal along the way,” said Rodrigo Catril, a currency strategist at National Australia Bank Ltd. “This is a risk-positive, USD-negative backdrop, especially with the Fed likely to remain ultra-dovish for some time.” …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-11-23/dollar-falls-to-2018-…

END

Morgan’s profit from gold/silver business this year more than offsets its 920 million odllar fine for market rigging

(Hobson/Reuters)

Morgan’s profit from gold business this year more than covers $920 million fine for market rigging

 Section: 

JPMorgan Dominates Gold Market with Record $1 Billion Precious Metals Revenue

By Peter Hobson
Reuters
Monday, November 23, 2020

LONDON — JPMorgan has earned record revenue of around $1 billion so far this year from trading, storing, and financing precious metals, vastly outperforming rival banks, two sources familiar with the matter told Reuters.

The coronavirus has created a bonanza for investment banks dealing in gold, silver and other precious metals by triggering massive investor purchases and rupturing the normal workings of the market.

… 

But JPMorgan has dominated, growing its share of the market.

The U.S. bank’s revenue by mid-November accounts for at least half of the $1.7 billion to $2 billion that consultancy McKinsey CIB Insights estimates the top 10 investment banks combined will make this year from precious metals, mostly gold.

Its commodities division is on track to bring in more than $1.5 billion this year and could challenge Goldman Sachs for the title of top earner, the sources said. …

… For the remainder of the report:

https://www.reuters.com/article/idUSKBN2831N5

END

iii) Other physical stories:

Whale Accumulation Sends Bitcoin Above $19,000 As Gold Tumbles

For the first time since 2017, Bitcoin price pushed above $19,000, and multiple indicators suggest the rally may continue. There’s less good news for lovers of more traditional economic-curmudgeon plays with gold dropping for a second day to trade at $1,815

Source: Bloomberg

Within $400 of the record high from Dec 2017…

Source: Bloomberg

Ethereum is steady today after yesterday’s surge as Eth2’s beacon chain genesis has been confirmed for Dec. 1 following the transfer of 524,288 Ether (ETH) from 16,384 validators into the Eth2 deposit contract since it went live on Nov. 4.

Source: Bloomberg

Bitcoin bounced off support versus Ethereum…

Source: Bloomberg

CoinTelegraph’s Ray Salmond points out that the main factors buoying BTC’s ongoing rally is whale accumulation, decreasing exchange supply and explosive volume trends.

image courtesy of CoinTelegraph

Whales are still accumulating Bitcoin

All throughout November, Cointelegraph reported that whale clusters were steadily forming as the price of Bitcoin rallied.

These clusters emerge when Bitcoin whales buy BTC at a certain price point and do not move them. Analysts have interpreted this as a signal that whales are accumulating and that they have no intention of selling in the near term.

The difference between the ongoing Bitcoin rally and previous price cycles is that the recent uptrend has proven to be more sustainable. In fact, each whale cluster shows that every major support level BTC reclaimed was accompanied by whale accumulation.

Unspent Bitcoins at each whale cluster. Source: Whalemap

On Nov. 18, when Bitcoin dropped to as low as $17,200, analysts at Whalemap said that the new whale support is located at $16,411. They said:

“Bubbles indicate prices at which whales have purchased BTC that they are currently holding. Bubbles also visualize support levels. Last time we bounced from $15,762 and had a 15% price increase. Is the new bubble at $16,411 going to hold this time as well?”

Since then, Bitcoin has seen several more dips below $18,000 but has since recovered above $18,800, sustaining its strong momentum.

Furthermore, data from Santiment, an on-chain market analysis platform, shows a similar trend. Santiment researchers found that the number of BTC whales significantly increased in recent months. They explained:

“The amount of #Bitcoin whales with at least 10,000 coins (currently $185M or more) has ballooned to 114 the past couple days as prices soared above $18k. Additionally, the amount of holders with at least 1,000 $BTC ($18.5M) has hit an ATH of 2,449!”

Additionally, as Reuters reports, investors like Stanley Druckenmiller, founder of hedge fund Duquesne Capital, and Rick Rieder, BlackRock Inc’s chief investment officer of global fixed income, have recently touted bitcoin.

Retail investors though are still mostly sidelined due to the pandemic’s effect on the economy. But with the entry of Square and PayPal, Lennard Neo, head of research at crypto index fund provider Stack Funds, expects a deluge of retail demand more intense than in 2017.

Neo forecasts bitcoin to reach $60,000-$80,000 by the end of 2021., but that pales compared to Tom Fitzpatrick, a strategist at Citigroup, who forecast earlier this month the token could potentially reach as high as $318,000.

Going from $18,000 to $100,000 in one year is not a stretch, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, said.

“I have seen bitcoin go up 10X, 20X, 30X in a year. So going up 5X is not a big deal.”

Estes predicts bitcoin could hit between $100,000 and $288,000 by end-2021, based on a model that utilizes the stock-to-flow ratio measuring the scarcity of commodities like gold.

That model, he said, has a 94% correlation with the price of bitcoin.

Bitcoin’s supply is drying up

One consistent trend throughout the 2020 bull cycle was the continuous drop in Bitcoin exchange reserves.

Investors and whales deposit BTC to exchanges when they want to sell BTC. Hence, the recent drop in exchange reserves means there are fewer sellers in the market.

A pseudonymous trader known as “Byzantine General” said that every time spot exchanges expand their BTC reserves, they get accumulated. He said:

“Everytime spot exchanges add to their $BTC reserves it gets depleted almost immediately. Don’t you get it? There’s literally not enough supply.”

Volume is surging

The volume of both institutional and spot exchanges has been increasing rapidly since September. Open interest on Bitcoin futures and options at CME surpassed $1 billion in November and Binance’s BTC/USDT pair has consistently delivered over $1.5 billion in daily volume.

Various data points also show that the spot market has been leading the rally, not derivatives or futures markets. This trend makes the rally more stable and reduces the risk of massive corrections.When the futures market accounts for the majority of the volume during a Bitcoin uptrend, there is a large risk of cascading liquidations. This time, the spot market has been leading the rally, thus making it more sustainable.

‘Digital’ Gold

Finally, there is one more factor worth noting. It appears there is a preference for ‘digital gold’ over the barbarous relic as the correlation between the two crashes into negative territory..

Source: Bloomberg

As Tom Luongo recently notedthe current rally in bitcoin is telling us clearly that there is a new premier store of value asset because of the current state of the world. Maybe that’s really what Schiff is decrying, a world that has passed him by.

What’s becoming clear even to me is that gold will only be valued in relation to bitcoin going forward, not the other way around.

It’s sad but true. In my heart of hearts I wish it were different and not because of the structure of my portfolio or the name of my business.

It’s sad because it proves that we are moving into a different age where technology is depreciating the value of an asset which materially improved the life of billions for millennia towards its commodity extraction value limit.

And while many gold advocates don’t want to admit that they have stood by while the fortune of two lifetimes has passed them by. That’s the bad news.

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 6.5853 /

//OFFSHORE YUAN:  6.5859   /shanghai bourse CLOSED DOWN 11.67 PTS OR .34%

HANG SANG CLOSED UP 102.00 POINTS OR .34%

2. Nikkei closed UP 638.22 POINTS OR 2.50%

3. Europe stocks OPENED ALL GREEN/

USA dollar index DOWN TO 92.34/Euro RISES TO 1.1866

3b Japan 10 year bond yield: RISES TO. +.03/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 104.53/ 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:: 43.46 and Brent: 46.39

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

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

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

3h Oil UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.58%/Italian 10 yr bond yield DOWN to 0.60% /SPAIN 10 YR BOND YIELD DOWN TO 0.06%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.18: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.66

3k Gold at $1810.90 silver at: 23.14   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 3/100 in roubles/dollar) 76.15

3m oil into the 43 dollar handle for WTI and 48 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 104.53 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 .9131 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0936 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 0.58%

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 0.866% early this morning. Thirty year rate at 1.567%

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

6.  TURKISH LIRA:  UP  TO 7.95..

Futures, Bitcoin And Brent Soar On Biden Transition, Yellen Return

Futures surged above 3,600, oil jumped to a six month high, and bitcoin traded just shy of its 2017 record on Tuesday as the formal process for Joe Biden to begin his transition burnished a November already boosted by COVID-19 vaccines.

Futures for the S&P 500 rose 0.7% in early European trading hours, trading around the “call wall” that is 3,600 and putting the 49-country MSCI world stocks index on course to set a new record high later. Dow futures jumped 1% in early trading, outperforming Nasdaq 100 futures as investors set up to again rotate out of the technology heavyweights that were seen as safe bets during the recession.

After weeks of legal challenges to the election results, U.S. General Services Administration chief Emily Murphy wrote to Biden on Monday informing him the formal handover process could begin. Minutes later, President Trump tweeted that he had told his team “do what needs to be done with regard to initial protocols”, an indication he was moving towards a transition.

“Markets have been constrained by very high levels of uncertainty on the U.S. political front and around vaccines for weeks, so with those two going away investors are considering the prospect of a return to normality in 2021,” said Emmanuel Cau, head of European equity strategy at Barclays.

Additionally, reports that Biden plans to nominate former Federal Reserve Chair and uberdove Janet Yellen to be the next Treasury Secretary further boosted U.S. stocks on expectations she would pursue “more conventional policies” than the outgoing Steven Mnuchin, according to Reuters which is bizarre because what it really means is that Yellen will buy stocks after the next 20% drop.

“Progress on developing and distributing a vaccine de-risks the path back to normal for oil markets,” said Stephen Innes, chief global markets strategist at financial services firm Axi.

Finally, signs that a working COVID-19 vaccine could be available before the end of the year put the benchmark S&P 500 on course for its best November since 1980 and rekindled demand for cyclical sectors such as industrials and financials after a virus-led crash earlier this year. Energy stocks continued their storm higher on the back of higher oil prices.

Shares of Tesla Inc jumped 4.2% in premarket trading, putting the stock on track to hit $500 billion in market capitalization at the opening bell, and just shy of Berkshire’s market cap.

European markets tracked gains in Asian and U.S. equities, with the broad-based STOXX 600 index climbing 0.6% led by energy stocks, while the Eurostoxx 50 rallied 1.2%; FTSE MIB jumped over 1.5% to outperform peers, while Italian 10Y bonds rallied to fresh record low yields. Oil & gas, autos and basic resources were the best performing sectors. Adding to the positive near-term tone in markets was better than expected economic news from Germany, where gross domestic product grew by a record 8.5% in the third quarter as household spending recovered. The reading marked an upward revision to an earlier flash estimate of 8.2% growth. The Ifo institute’s survey of business morale pointed to fears of a recession to come, however, as the business climate index fell to 90.7 from a downwardly revised 92.5 in October.

The operator of Germany’s DAX index announced the biggest overhaul since the index’s inception in 1988. The number of members will increase to 40 from 30 and new quality criteria will be imposed on both existing and prospective members.

Earlier in the session, Asian stocks also jumped with Asia-Pac shares ex-Japan ticking up 0.4%. Australia’s S&P/ASX 200 was 1.26% stronger, touching its highest level in almost nine months, with energy stocks leading the pack there. Japan’s Nikkei jumped 2.5% to its highest level since May 1991 overnight, with energy, real estate and financial shares leading the advance.  Seoul’s Kospi was 0.6% higher as was Hong Kong’s Hang Seng which rose 0.4%. China blue-chips were an outlier however, edging down 0.6%, as investors booked profits following recent strong gains.

In FX, the Bloomberg Dollar Spot Index fell by as much as 0.5% as sentiment remained constructive before recovering some of its losses; high-beta currencies extended gains as the dollar broadly fell after European stock markets opened higher, The euro advanced, yet failed to rise beyond $1.19. The pound rose for a third session, extending gains from Monday when it reached the highest in more than two months, on optimism for the prospect of a trade deal between the U.K. and European Union. Market positioning and sentiment in pound options suggest traders see a relatively low risk that the currency will sustain a move above its 2019 highs on a Brexit trade deal.

Elsewhere, the kiwi and Australian dollar both rallied by more than 1% versus the dollar in European hours; New Zealand’s dollar advanced to 70 cents per dollar for the first time in over two years, and the nation’s bond yields rose after the RBNZ said house prices, which have been storming higher this year, could be included in its inflation basket while Finance Minister Grant Robertson released a letter to the central bank expressing concerns over how low rates have stoked home prices, prompting the market to price out the possibility of negative borrowing costs.

In rates, Treasury futures were little changed in early U.S. trading. Yields remain  higher by more than 1bp at long end of the curve, 10-year around 0.87%; though still more than 10bp below its November high, 10-year yield had bearish moving-average cross, with 50-day exceeding 200-day for first time since January 2019. Another record 7-year note sale ($56BN) takes place at 1pm ET, and concludes this week’s Treasury auction cycle for holiday-shortened week. Three-month dollar Libor jumped 2.58bp, triggering a flood of sales in Dec20 eurodollar futures. Germany’s 10-year yield was up 1 basis point to -0.57% in early trade, while Bund curves also bear-steepened modestly, with peripheral spreads tightening with 10y BTP/Bund near 118bps.

In commodities, spurred on by the vaccine hopes oil reached levels not seen since March, before the coronavirus began to spread rapidly and decimated demand. Brent crude futures rose 45 cents, or 1%, to $46.51 a barrel to add to a more than 20% surge this month, while U.S. West Texas Intermediate crude added 46 cents, or 1.1%, to $43.52.

The rapid rise of Bitcoin continued this morning, passing $19,000 for the first time in three years, and just shy of its all time high just under $20,000. The rally has been accompanied by the usual collection of further price rises, with Tom Fitzpatrick, a strategist at Citigroup saying earlier this month the token could potentially reach as high as $318,000, while JPMorgan hinting at a price target above $160,000. There was less good news the traditional safe haven gold, which dropped for a second day to trade at $1,811 an ounce by 7:30 a.m. ET, while spot silver dropped over 1.5%.

Investor attention will be on consumer confidence data for November due later in the day, although trading volumes are expected to be light in a week shortened by the Thanksgiving holiday on Thursday. We will also get the Richmond Fed’s manufacturing index, along with the FHFA’s house price index for September. Central bank speakers include ECB President Lagarde, the ECB’s Lane, Schnabel and Rehn, the Fed’s Bullard and Williams, and the BoE’s Haskel.

Market Snapshot

  • S&P 500 futures up 0.7% to 3,602.00
  • STOXX Europe 600 up 0.7% to 391.43
  • MXAP up 1% to 191.45
  • MXAPJ up 0.4% to 632.41
  • Nikkei up 2.5% to 26,165.59
  • Topix up 2% to 1,762.40
  • Hang Seng Index up 0.4% to 26,588.20
  • Shanghai Composite down 0.3% to 3,402.82
  • Sensex up 1% to 44,494.55
  • Australia S&P/ASX 200 up 1.3% to 6,644.07
  • Kospi up 0.6% to 2,617.76
  • Brent futures up 0.8% to $46.41/bbl
  • Gold spot down 0.7% to $1,825.82
  • U.S. Dollar Index down 0.4% to 92.19
  • German 10Y yield rose 0.5 bps to -0.576%
  • Euro up 0.4% to $1.1883
  • Italian 10Y yield fell 0.9 bps to 0.513%
  • Spanish 10Y yield fell 1.0 bps to 0.061%

Top Overnight News from Bloomberg

  • President-elect Joe Biden’s selection of Janet Yellen as Treasury secretary signals that he plans to act aggressively to revive the world’s biggest economy, putting a former Federal Reserve chair who’s not shied away from stimulus at the helm of his economic policy
  • Prime Minister Boris Johnson confirmed England’s national lockdown will end next week, to be replaced by a tougher three-tier system of regional restrictions designed to last until spring next year
  • A German expectations gauge by the Ifo institute fell to 91.5 in November from 94.7 the previous month, a steeper drop than economists forecast. The outlook is particularly bad in services, where temporary business closures and rules affecting social activities erode profits and threaten bankruptcies
  • The EU is gearing up for its third sale of social bonds, capitalizing on huge investor interest in securities designed to finance the bloc’s economic recovery. The 15-year debt offering kicked off Tuesday, following sales earlier this year that attracted some of the largest orderbooks on record
  • Goldman Sachs Group Inc. is planning a European stock trading platform to ensure its clients can still buy and sell shares even without a post-Brexit agreement to allow dealing in London

A quick look at global markets courtesy of NewsSquawk

Asian equity markets were mostly positive as the region digested several bullish factors including ongoing vaccine hopes, strong US PMI data and reports that President-elect Biden is to pick former Fed Chair Yellen for Treasury Secretary. In addition, the General Services Administration informed Biden’s team that the transition can formally begin and President Trump’s recommendation for the GSA and his team to adhere to initial protocols, despite his continued legal challenge to the election, also stoked risk appetite. ASX 200 (+1.3%) was led higher by outperformance in energy and its largest-weighted financials sector, with sentiment also helped by preliminary trade data which mostly showed an improvement, as well as the reduced restrictions with Queensland set to reopen its border with New South Wales from December 1st. Nikkei 225 (+2.5%) surged at the open to print its best levels since May 1991 as it played catch up from yesterday’s holiday closure and with exporters cheering a weaker currency, while KOSPI (+0.5%) notched a fresh record high after stronger Consumer Confidence added to the recent encouraging trade data. Hang Seng (+0.4%) and Shanghai Comp. (-0.3%) were less decisive after reports the White House was mulling new actions against China and a new alliance to retaliate against Chinese economic coercion, with the mood in Hong Kong also hindered by the announcement to further tighten social distancing rules and close more indoor entertainment venues. Finally, 10yr JGBs were lower with prices subdued by the outperformance in Japanese stocks and after the bear steepening in USTs, although the downside was cushioned by the BoJ’s presence in the market for over JPY 1.3tln of JGBs with 1yr-10yr maturities.

Top Asian News

  • York Capital to Spin Off $2.7 Billion Asia Hedge Fund Firm
  • Hong Kong to Close Bars, Nightclubs From Thursday Due to Virus
  • Negative Rate Bets Are Passe in New Zealand as No Cut View Grows

Major European bourses hold onto gains seen at the cash open (Euro Stoxx 50 +1.1%) as the mostly positive sentiment from the APAC region reverberated into the region, whilst Chinese markets lagged on idiosyncratic factors. Price action thus far has been somewhat contained across European cash/futures alongside US futures amid a lack of fresh catalysts for the complex in this holiday-shortened week. Amid quietened trade, it’s worth pondering over potential future bullish/bearish catalysts that could materialise in the coming weeks/months, with upside risks including accelerated vaccine progress, larger fiscal support, fixed income outflows into equities whilst some desks also suggest US investors returning to European stocks amid more favourable EPS growth. Conversely, potential downside catalysts include renewed/re-imposition of lockdown measures, an adverse Brexit outcome and a snag in fiscal responses with eyes on the EU budget/recovery fund developments. Back to Europe, broad-based gains are seen across the most majors, whilst CAC 40 (+1.2%) narrowly outperforms as Total (+4.8%) is propelled by gains in crude prices alongside news that the giant is mulling a voluntary redundancy plan in France whilst also halting operations in its loss-making Donges refinery. Gains in Total also support the broader Oil & Gas sector which stands as the outperformer in the region for a second straight session this week. Delving deeper into sectors, the cyclical vs defensives bias is again experienced as Autos, Banks, Travel & Leisure, and Telecoms are some of the top performers, whilst Healthcare, Staples and Utilities reside as straddlers. The Travel & Leisure sectors sees renewed tailwinds on vaccine optimism alongside reports that England is to introduce new COVID-19 testing scheme for passengers arriving from high-risk countries that could reduce self-isolation by a week or more and passengers will not need to self isolate if they test negative. As such, Tui (+11%), Air France-KLM (+10.5%), Carnival (+10.2%), easyJet (+5.7%) and IAG (+5.0%) post firms gains. Elsewhere, despite the broader losses in Healthcare, Novartis (+0.4%) holds onto mild gains having had seen a firm open as the group announced the initiation of share buybacks of up to USD 2.5bln whilst emphasising confidence in future operations.

Top European News

  • Johnson Ends England’s Lockdown But Hits Regions With New Rules
  • Germany’s DAX to Get Bigger, Stricter After Wirecard Fiasco
  • Germany’s Business Outlook Worsens After Short-Lived Rebound

In FX, the Kiwi is cresting 0.7000 vs its US counterpart in wake of considerably better than forecast NZ deficit and debt outturns for the 2019/20 fiscal year and assertions from Finance Minister Robertson that house prices may be included in the RBNZ policy remit pending consultations. However, Aud/Nzd has rebounded from 1.0475 overnight lows as the Aussie corrects higher and Aud/Usd breaches 0.7350 on the way to circa 0.7365 amidst stops and technical buying after mixed trade data and relatively innocuous comments from RBA Deputy Governor Debelle. Conversely, and only in part due to the exertions of the Antipodeans, Monday’s recovery momentum has all but reversed for the Buck as the index recoils further through 92.500 to 92.138. To recap, the DXY only just survived a test of 92.000 yesterday before rebounding sharply following robust Markit PMIs that appeared to spark a stop-fuelled short squeeze and perhaps some early month end positioning given Thanksgiving at the end of this week and an early close on Thursday when the spot date for currency markets if November 30.

  • CAD/EUR/GBP – All taking advantage of the Greenback’s fall from grace, with the Loonie back within striking distance of 1.3000 with assistance from strong oil prices rather than remarks from BoC Assistant Governor Gravelle who underlined a willingness to restart QE and reopen liquidity facilities if widespread stress in the financial system reappears. Similarly, the Euro has regrouped to reclaim 1.1850+ status irrespective of a somewhat divergent German Ifo survey against expectations and the Pound is eyeing 1.3400 again on the back of Brexit deal hopes underpinned by reports that the 2 sides could be on the cusp of a trade agreement.
  • JPY/CHF – Not quite so eager or able to recoup declines vs the Dollar on overall risk considerations, as the Yen hovers below 104.00 and Franc under 0.9100 in the run up to Swiss investor sentiment on Wednesday.
  • EM/PM – The Lira has wiped out even more of its post-CBRT gains to revisit sub-8.0000 lows with little help from a deterioration in Turkish manufacturing confidence or the Banking Watchdog preannouncing that it will terminate calculating assert requirement ratios for banks from year end. Elsewhere, Gold is also struggling to arrest its relapse towards Usd 1800/oz having suffered stop losses on a break beneath Usd 1850 and several tech levels. However, crude and commodity currencies are doing well to the extent that the Rouble and Rand have not been adversely impacted by the worsening COVID-19 situation of SARB noting that SA’s finances are a source of concern.

In commodities, WTI and Brent front-month futures continue on the upward trajectory seen overnight as the key themes for the complex (i.e. expectations for OPEC cut extension alongside vaccine optimism) continue to feed into prices, with WTI Jan back above USD 43.50/bbl (vs. low USD 42.82/bbl) and Brent around USD 46.50/bbl (vs. low 45.89/bbl). The widening of the WTI-Brent arb reflects expectations surrounding the OPEC/OPEC+ confab at month-end, although it is worth noting that a number of technical meetings will occur prior to this, including the OPEC economic board to meet tomorrow and Thursday, whilst OPEC/Non-OPEC experts will convene on Friday, according to EnergyIntel. On that note, it’s also worth flagging some scepticism across participants that the recent crude price rally could translate to several oil producers being reluctant to roll over cuts, albeit this in itself could increase the risk of another price war. Elsewhere, precious metals continue to trend lower despite a softer Dollar, but more-so in lockstep with the constructive risk appetite, with spot gold inching closer towards USD 1800/oz (vs. high 1839/oz) to the downside ahead of its 200 DMA around 1796/oz, whilst spot silver continues to lose ground below USD 23.50/oz (vs. high 23.63/oz). Finally, copper prices are bolstered by Dollar weakness and risk sentiment.

US Event Calendar

  • 9am: FHFA House Price Index MoM, est. 0.8%, prior 1.5%
  • 9am: House Price Purchase Index QoQ, prior 0.8%
  • 9am: S&P CoreLogic CS 20- City MoM SA, est. 0.7%, prior 0.47%; CS 20-City YoY NSA, est. 5.3%, prior 5.18%
  • 10am: Conf. Board Consumer Confidence, est. 97.9, prior 100.9;Present Situation, prior 104.6;Expectations, prior 98.4
  • 10am: Richmond Fed Manufact. Index, est. 20, prior 29

DB’s Jim Reid concludes the overnight wrap

At last! Golf will be back on again from the middle of next week here in England. Ever since Bryson DeChambeau returned from lockdown 1 with a huge increase in muscles in an attempt to hit the golf ball further I’ve been doing a weights and core strength program for absolutely no other reason than to hit the golf ball further. Then 3 weeks ago I started a speed training program. It’s based around the same concept as HIT (high intensity training) training or interval training where you incorporate sprinting into your fitness training in order to get quicker even for long distance training. This speed training involves swinging 3 different weighted sticks as fast as you possibly can in different ways over a period of 10 minutes three times a week. I even bought a speed gun to measure it. I have absolutely no idea whether it will work. All I know is that my wife thinks I’m crazy and obsessed and that I’ve now got back spasms again!

Speed of execution will now be the key for vaccines as for the third Monday in a row we had important news from a leading candidate. This time it was the one from the University of Oxford and AstraZeneca, where interim trial data from the Phase III trials found it to be 70.4% effective when combining the data from the two dosing regimens. Though this is below the figures for the Pfizer/BioNTech and the Moderna vaccines we already have trial data for, one of the dose regimens in which there was a halved first dose and a standard second dose had a higher efficacy of 90%, which is much closer to the other two. And in further good news, this vaccine only needs to be stored at a fridge temperature of 2-8C, unlike the other two which require the far lower transportation and storage temperatures of around -70C for Pfizer/BioNTech and -20C for Moderna, so that’s another positive when it comes to distribution, particularly for EM countries. See our CoTD yesterday here for how the G10 could see herd immunity by mid-year. A reminder that if you want CoTD in your email every day around U.K. lunchtime email jim-reid.thematicresearch@db.com.

Core sovereign bonds sold off yesterday, with yields on 10yr Treasuries (+2.9bps), bunds (+0.2bps) and gilts (+1.6bps) all moving higher. They weren’t the only safe havens to struggle, as gold prices fell -1.77% to a 4-month low of $1,838/oz. That said, it was yet another record day for 10yr BTPs, with yields falling to an all-time low of 0.62%.

Moving on to US politics and overnight the General Services Administration acknowledged Joe Biden as the apparent winner of the presidential election with Mr Trump calling on his agencies to cooperate with this transition. However he said that he would continue to contest the outcome of the election. This triggering of a formal transition process is boding well for risk assets though with S&P 500 futures up +0.80% while yields on 10y USTs are up +1.1bps to 0.866%. Asian markets are also making advances this morning with the Nikkei (+2.52%) higher as it reopened post a holiday while the Hang Seng (+0.13%), Kospi (+0.46%) and ASX (+1.26%) are also up. The Shanghai Comp (-0.17%) is trading down. In FX, the New Zealand dollar is up +0.64% after an overnight letter from Finance Minister Grant Robertson to the central bank expressed concerns over how low rates have stoked home prices. Elsewhere, gold prices are down -0.66% while oil prices are up a further c. 1%.

Staying with US politics, yesterday we began to get news of some US cabinet nominations and other appointees from President-elect Biden. One headline that seemed to help US equity prices was news that President-elect Biden is planning to nominate former Fed Chair Janet Yellen to serve as his Treasury Secretary. The S&P rose +0.45% in the c.15 minutes after the story hit later in the session. She had been viewed as one of the front runners for the position and is likely to be welcomed by both wings of the Democratic party. She is also likely to try to closely align fiscal and monetary policy, which could mean quickly reversing the decision of current Treasury Secretary Mnuchin to shutter the Fed facilities that we highlighted last week.

The president-elect’s other announcements pulled heavily from his time as Vice President. His team announced plans to nominate Avril Haines to be Director of National Intelligence and Alejandro Mayorkas to lead the Department of Homeland Security. Haines was a White House Deputy National Security Advisor under President Obama, while Mayorkas led the US Citizenship and Immigration Services agency during that time as well. Linda Thomas-Greenfield will be nominated as the US ambassador to the UN, after she spent nearly four decades at the State Department and served as assistant secretary for African affairs – a post she left shortly into the Trump administration. Lastly, former Secretary of State John Kerry is slated to return as President-elect Biden’s “Climate Czar” to work in an inter-agency role. The move signals that the incoming administration is going to put far more emphasis on the issue going forward.

Meanwhile in the UK with the year-end Brexit transition deadline approaching, the Times Radio’s chief political commentator reiterated a Telegraph story from the previous night that a phone call, or possibly even a face-to-face meeting, would be set up between Prime Minister Johnson and Commission President Ursula von der Leyen later this week.

Staying with the U.K., yesterday PM Johnson announced that the second lockdown in England would end on December 2 and would instead be replaced by a return to the system of three regional tiers but with likely stricter tiers than before. The government hasn’t actually said which region will be in which tier yet. The government said that they’re seeking to allow more social contact over Christmas, but haven’t yet announced details on what that will mean. Today we can expect another address from French President Macron on the latest changes to lockdown rules.

The main data release yesterday came from the flash PMIs, where all the European countries saw their composite PMIs decline from their October levels. The Euro Area composite PMI fell to 45.1 (vs. 45.6 expected), which puts it back below the 50-mark that separates expansion from contraction for the first time since June, while the composite PMI in France sunk to an even-lower 39.9 (vs. 42.0 expected). Germany held up relatively better at 52.0 (vs. 50.5 expected), though this was also its lowest since June, and the UK slumped back below 50, albeit with a stronger-than-expected 47.4 reading (vs. 42.5 expected). The US was the exception to this pattern, and the composite PMI actually rose to 57.9.

This came even as US Covid-19 hospitalisations hit their highest levels since April 9, with over 12% of hospital beds filled with Covid-19 patients across the country. The Governor of North Carolina issued an order extending the state’s mask mandate and kept restrictions in place until December 11. Meanwhile New York State is a reopening an emergency centre on Staten Island where hospital capacity is strained. The issues across the US highlight how while the vaccine offers much promise for normalisations by the summer, the intervening months could see the economy strained further. Across the other side of world despite still low number of new infections, Hong Kong’s Chief Executive Lam has said that the city will shutter more indoor entertainment venues to control the spread of the virus. Hong Kong reported 63 new cases yesterday. In Japan, Osaka city will ask some bars and restaurants in its nightlife districts to close at 9pm for 15 days starting Friday while the country is also temporarily suspending a campaign to spur domestic travel.

To the day ahead now, and the data highlights include the Ifo business climate indicator from Germany for November. From the US, we’ll also get the Conference Board’s consumer confidence indicator for November, the Richmond Fed’s manufacturing index, along with the FHFA’s house price index for September. Otherwise, central bank speakers include ECB President Lagarde, the ECB’s Lane, Schnabel and Rehn, the Fed’s Bullard and Williams, and the BoE’s Haskel.

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 11.67 POINTS OR .34%   //Hang Sang CLOSED UP 102.00 POINTS OR .39%    /The Nikkei closed UP 638.22 POINTS OR 2.50%%//Australia’s all ordinaires CLOSED UP 1.23%

/Chinese yuan (ONSHORE) closed /Oil UP TO 43.46 dollars per barrel for WTI and 46.39 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5853. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5859 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/USA

The National File

China’s top propaganda paper issues orders to Biden to obey China’s wishes or else…

(the National File/Salvato)

PUPPET: China’s Top Propaganda Paper Issues Orders to ‘Incoming Biden Administration’

As the mainstream media continues to ignore the evidence connecting the Biden syndicate to China, the ChiCom’s mouthpiece news agency adds fuel to the fire

The American mainstream news media may not want to touch the story about the Biden-China connection with a ten-foot poll, but China’s leading government controlled daily had no problem exposing a conduit for the Communist Chinese government’s orders to a potential President of the United States.

The Global Times, the official propaganda instrument of the Chinese Communist Party disguised as a news outlet, published an op-ed that outlined three over-riding points – instructions to the “incoming Biden administration”: obey Beijing, do not challenge China’s economic superiority, and open your domestic markets without restraint.

The op-ed piece was published in the Sunday edition of the Global times and confidently outlined China’s vision of US-China relations in the immediate future under a submissive Biden administration.

The piece made clear from the first point that the Communist Chinese government expects a “partnership” that is “categorically different” than that presented by the Trump administration.

Biden is, irrevocably, the 46th US president,” the op-ed states. It then launched into an outline how the two countries will combine their resources in fighting COVID. The Times op-ed suggested that prostrate America is a better America. The op-ed seemed to issue a warning to an underling (read: Joe Biden) that, “Demonizing China or slinging dirt on Chinese people will never help to stop the flare-up of infections and fatalities in America…China’s experiences are impressive in curtailing the pandemic, and China’s unparalleled ability in manufacturing PPEs and producing vaccine vials and freezers should not be neglected and could be made use of by the Biden government.”

The strongest point made in the piece was on the subject of trade and the economic relationship between Beijing and Washington. As to the economic realities facing the two countries, the piece is blunt. The Times made clear that China’s economy is growing at a “sizzling pace” and if the US intends to benefit from that “reality” it should comply with Beijing ending its “selfish” doctrine of America First.

“Economic confrontations with China chosen by Trump’s team failed to do the US, or any country in this world, any good…[T]he incoming Biden administration needs to ponder its new policies, to reverse the course of the tumultuous policies of the past four years trumpeted by Trump.”

end

Gordon Chang comments on the Neo Con Kissinger who brought China to the table in 1972: co operate with China or World War iii

Chang/Gatestone

Cooperate With China Or World War 3: Kissinger

Authored by Gordon Chang via The Gatestone Institute,

“I would think we need first of all a dialogue with the Chinese leadership in which we are defining what we’re attempting to prevent and in which the two leaders agree that whatever other conflicts they have they will not resort to military conflict,” Henry Kissinger told Bloomberg News Editor-in-Chief John Micklethwait on November 16 at the Bloomberg New Economy Forum.

“Unless there is some basis for some cooperative action, the world will slide into a catastrophe comparable to World War I.”

Of course no one wants war of any type with China, but in a little over 14 minutes Kissinger managed to totally misinterpret Chinese history, support Beijing’s most important foreign policy goal, and give deeply misguided advice to Joe Biden. Kissinger has evidently learned nothing from years of dangerous Chinese behavior, which is partly the result of his policy formulations.

We start with history, because Kissinger was once an accomplished historian and his incorrect opinions on China today appear to flow from his unsupportable views of the Chinese past. He makes the case that Americans cannot understand Beijing’s insecurity.

“Americans have had a history of relatively uninterrupted success,” he noted.

“The Chinese have had a very long history of repeated crises. America has had the good fortune of being free of immediate dangers. Chinese have usually been surrounded by countries that have had designs on their unity.”

Even if his comments were true, no country now threatens China. China, in fact, has not faced any credible external threat to its unity for more than seven decades. The Communist Party dwells on history, such as the so-called “Century of Humiliation,” the subject of ruler Xi Jinping’s National Day speech last October, because that telling of history suits the needs of today’s insecure regime.

China’s troubled past, in short, is an excuse. What, after all, is it in history that justifies present-day Chinese aggression against India, Bhutan and Nepal, or its designs on Tajikistan, the Philippines and Malaysia?

Moreover, what justification is there for the Communist Party’s declaration of a “people’s war” on the United States in May of last year?

China is aggressive and militant at this moment because of the nature of its communist regime, which is quickly driving the country back to one-man rule and totalitarianism. Xi Jinping, the one man in China’s system, is now propagating the audacious concept of tianxia, that “all under heaven” owe allegiance to Beijing.

There are, unfortunately, some points in history when dialogue makes matters worse because hardline leaders perceive others’ desire to talk as a sign of weakness.

In any event, dialogue assumes that Chinese leaders can compromise, which at this point is a dubious proposition. For instance, Beijing last compromised a territorial claim in 2011 — with Tajikistan, when it took Tajik territory — but now is trying to reopen the settlement to grab even more. Since then, Beijing has added new claims — to the South China Sea — and has laid the groundwork for additional ones, especially over Japan’s Ryukyu chain.

The absence of Chinese goodwill leaves America a last resort: deterrence.

Kissinger, often cited as a deterrence expert, is now not a fan of it. When Micklethwait asked him whether he favored the notion of Biden advisors that democracies should unite in a coalition, the 97-year-old “grand consigliere of American diplomacy” — the Financial Times‘s description — was noncommittal. “I think democracies should cooperate wherever their convictions allow it or dictate it,” he replied. “I think a coalition aimed at a particular country is unwise, but a coalition to prevent dangers is necessary where the occasion requires it.” In Kissinger-speak, that is a “no” to international cooperation against Beijing.

Given what could be happening inside Communist Party political circles, there may now be no way to avoid war with a militant Chinese state. Yet whether peace is possible or not, it should be clear to Kissinger that the approach he has supported, and which has been adopted by every American president since President Nixon went to China in 1972, has contributed to Chinese aggressiveness. Kissinger, by urging conciliation when Beijing has made clear it cannot be appeased, has helped produced today’s grave situation.

Let us remember that Kissinger has always been intimidated by large communist states. He advocated détente in the early 1970s when he assumed there was no way to prevail over the Soviet Union. Reagan, after refusing to accept the USSR as a given, proved him dead wrong.

And Kissinger is dead wrong now.

“Trump has a more confrontational method of negotiation than you can apply indefinitely,” Kissinger told Micklethwait, appearing to speak to Joe Biden. That, James Fanell, the noted Swiss-based China strategist told Gatestone, is “an unambiguous declaration of Dr. Kissinger’s defeatism.”

As Fanell, a former director of Intelligence and Information Operations of the U.S. Pacific Fleet, said, Kissinger believes the U.S. “cannot compete with the People’s Republic of China.”

America, however, is far stronger than China’s regime and has allies, which China, other than North Korea, does not. Moreover, the U.S. is knitting together a formidable coalition — the Quad with Australia, India, and Japan — giving Washington the ability to continue to confront Beijing on every front. The Chinese state is no match for nations, both near and far, it seems determined to antagonize.

What is the best indication that Kissinger is wrong?

Kissinger essentially said the choice for America is cooperation or war, a narrative he has propagated in recent interviews. Yet repetition will not make his false dichotomy so. Countries can, between these two extremes, choose confrontation and deterrence. World War II in Europe, for example, started because Britain and France chose not to confront the Third Reich when doing so — in 1936 during the attempted remilitarization of the Rhineland — would have ended the German military threat.

Micklethwait started out the interview by asking about the Congress of Vienna, the subject of Kissinger’s A World Restored: Metternich, Castlereagh and the Problems of Peace 1812-22.

“Whenever peace—conceived as the avoidance of war—has been the primary objective of a power or a group of powers, the international system has been at the mercy of the most ruthless member of the international community,” he wrote. “Whenever the international order has acknowledged that certain principles could not be compromised even for the sake of peace, stability based on an equilibrium of forces was at least conceivable.”

Kissinger ducked the question and, for some reason, is now suggesting the United States put itself at the mercy of the world’s most ruthless regime.

end

4/EUROPEAN AFFAIRS

UK

This is a good one!! UK Supreme Court Judge labels UK government as “control freaks” for attempting to control people’s lives under the guise of COVID

(Watson/Summit News)

UK Supreme Court Judge Slams “Totalitarian” COVID “Control Freaks” In Government

Authored by Steve Watson via Summit News,

A British Supreme Court judge has slammed the UK government as ‘control freaks’ for attempting to control people’s lives under the guise of COVID, and labeled it “morally and constitutionally indefensible” to define what freedoms the public should and shouldn’t have.

In an op-ed published Sunday, Lord Sumption noted that the “debate about whether to let us have a family Christmas perfectly sums up what is wrong with this Government’s handling” of the crisis.

Sumption wrote that there are “many different answers to the dilemmas of a Covid Christmas”, yet the crux of the matter is “whether we should be allowed to make the choice for ourselves, instead of having it imposed on us by law.”

“But for the Jacobins of the Scientific Advisory Group for Emergencies (SAGE) and the control freaks in the Department of Health, theirs is the only answer,” Sumption urged.

The British government has posited allowing people to spend 5 days in the company of their relatives over Christmas, but with the caveat that in January they will have to pay back the privilege with more lockdown time, specifically another 25 days.

Lord Sumption, who served as a senior judge on the Supreme Court of the UK between between 2012 and 2018, slammed the Prime Minister Boris Johnson, suggesting he is engaging in “public relations management” rather than leadership.

“Boris Johnson knows that restrictions over Christmas would be deeply unpopular, widely ignored and catastrophic for the retail and hospitality industries,” Sumption asserted.

“So he will soon announce their temporary suspension, behaving as if our lives belonged to the state and Christmas was an act of indulgence on his part,” the judge added.

Sumption further wrote that “control freaks and the rest of the sackcloth and ashes brigade will demand a payback” afterwards, claiming that some “are already pressing for two, three or even five days of extra lockdown for every day of release over Christmas. ”

Sumption proclaimed that the state is exercising an “insistence on coercing the entire population,” saying it is “morally and constitutionally indefensible in a country which is not yet a totalitarian state, like China.”

“The Government has not earned our trust. Sooner or later, people will take back control of their own lives and do the right thing, whatever Ministers say,” he predicted.

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues

CORONAVIRUS UPDATE/GLOBE

Millions Defy CDC Travel Warnings; Hong Kong Shutters Bars, As Global COVID Cases Near 60MN: Live Updates

No matter how many celebrities tweet or share Instagram posts imploring Americans to ‘just stay home’ this holiday season, more than a million Americans per day have continued to board planes, trains and automobiles as we reach the peak of the Thanksgiving travel season.

About 1 million Americans a day packed airports and planes over the weekend even as coronavirus deaths passed 250,000. Though traffic is down by roughly 50% compared with last year, it’s worth noting that millions of Americans – particularly younger millennials who are relatively new to the workforce – have been living with family since moving back in with mom and dad while working remotely this spring.

To be sure, the crowds are only expected to swell, with next Sunday likely to be the busiest day of the holiday period. To be sure, the number of people flying for Thanksgiving is down by more than half from last year because of the rapidly worsening outbreak.

The 3 million who went through US airport checkpoints from Friday through Sunday marked the biggest crowds since mid-March, when the COVID-19 crisis took hold in the US. According to Bloomberg, “many travelers are unwilling to miss out on seeing family and are convinced they can do it safely. Also, many colleges have ended their in-person classes, propelling students to return home.”

As hospitals across the Midwest struggle with overcapacity and New York reopens an overflow ward on Staten Island, it looks like new case numbers have started to trend lower, suggesting that numbers may have peaked, despite increasingly dire predictions for mortality heading into inauguration day.

Only 4 US states have fewer than 100 people per million hospitalized due to COVID.

In the southwest, New Mexico is standing out as new cases, deaths and hospitalizations are all at all-time highs.

Looking abroad, Hong Kong authorities announced Tuesday that they would shut bars, nightclubs, and bathhouses from Thursday until Dec. 2 – a period of less than a week – as local coronavirus cases rise, Secretary for Food and Health Sophia Chan said during a briefing on Tuesday.

The number of tables allowed at banquets will be capped at 10, with four people per table. The 4-person public gathering limit, 4-per-table rule at restaurants and mandatory mask- wearing will remain in place even after the rest of the restrictions end. The news comes as Hong Kong reports 80 coronavirus cases, of which 69 are local, said Department of Health official Chuang Shuk-kwan.

Although the number of new cases being reported worldwide has slowed over the past week, the international total of confirmed COVID-19 cases stands just below 60 million, while deaths are on the verge of 1.4 million.

Here’s more COVID news from overnight and Tuesday:

North Carolina Gov. Roy Cooper issued an executive order Monday that extended a mask mandate and Covid-19 restrictions through Dec. 11, with one-fifth of the state’s counties seeing critical levels of spread. His order limits indoor gatherings to 10 people, closes indoor bar service and restricts occupancy for retail stores, restaurants and other public businesses (Source: Bloomberg).

Turkey reported a record number of deaths from the coronavirus, highlighting the dilemma facing policy makers who are trying to contain the current surge in new cases without shutting down the economy again (Source: Bloomberg).

France reported 4,452 Covid cases on Monday, the lowest number of confirmed new infections in 24 hours since Sept. 28. The seven-day average of cases fell to 21,918, the fewest in more than a month (Source: Bloomberg).

New York City residents received $40 billion in stimulus benefits that have been critical to the city’s recovery from the coronavirus, Mayor Bill de Blasio said (Source: Bloomberg).

END

7. OIL ISSUES

end

8 EMERGING MARKET ISSUES

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

Euro/USA 1.1866 UP .0024 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /GREEN

USA/JAPAN YEN 104.53 UP 0.0010 (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 1.3323   DOWN   0.0002  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.3062 DOWN .0012 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 24 basis points, trading now ABOVE the important 1.08 level RISING to 1.1866 Last night Shanghai COMPOSITE DOWN 11.67 POINTS OR .34% 

//Hang Sang CLOSED UP 102.00 PTS OR .39% 

/AUSTRALIA CLOSED UP 1,23%// EUROPEAN BOURSES ALL GREEN

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 

/SHANGHAI CLOSED DOWN 11.67 POINTS OR .34% 

Australia BOURSE CLOSED UP 1.23% 

Nikkei (Japan) CLOSED UP 638.22  POINTS OR 2.50%

INDIA’S SENSEX  IN THE  GREEN

Gold very early morning trading: 1812.00

silver:$23.24-

Early TUESDAY morning USA 10 year bond yield: 0.866% !!! UP 1 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.567 UP 1  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 92.34 DOWN 2 CENT(S) from  THURSDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  TUESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.04% DOWN 1 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.03.%  UP 1   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.07%//DOWN 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.61 DOWN 1 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 57 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.54% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.18% 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 FRIDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1869  UP     .0028 or 28 basis points

USA/Japan: 104.63 UP .103 OR YEN DOWN 10  basis points/

Great Britain/USA 1.3341 UP .0015 POUND UP 15  BASIS POINTS)

Canadian dollar UP 53 basis points to 1.3021

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The USA/Yuan, CNY: closed DOWN AT 6.5919    ON SHORE  (x).

THE USA/YUAN OFFSHORE:  6.5847  (YUAN DOWN)..

TURKISH LIRA:  8.02  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.03%

Your closing 10 yr US bond yield UP 3 IN basis points from MONDAY at 0.883 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.606 UP 5 in basis points on the day

Your closing USA dollar index, 92.30 down 21  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 98.33  1.55%

German Dax :  CLOSED UP 165.47 POINTS OR 1.26%

Paris Cac CLOSED UP 66.27 POINTS 1.21%

Spain IBEX CLOSED UP 162.00 POINTS or 2.03%

Italian MIB: CLOSED UP 443.27 POINTS OR 2.04%

WTI Oil price; 44.96 12:00  PM  EST

Brent Oil:  47.85 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    75.56  THE CROSS LOWER BY 0.56 RUBLES/DOLLAR (RUBLE HIGHER BY 56 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 f0r Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OILPRICE 4:30 PM :  44.90//

BRENT :  47.87

USA 10 YR BOND YIELD: … 0.882..up 3 basis points…

USA 30 YR BOND YIELD: 1.604 up 5 basis points..

EURO/USA 1.1888 ( UP 47   BASIS POINTS)

USA/JAPANESE YEN:104.45 DOWN 0.078 (YEN DOWN 18 BASIS POINTS/..

USA DOLLAR INDEX: 92.16 DOWN 35 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3361 UP 35  POINTS

the Turkish lira close: 8.02

the Russian rouble 75.48   UP 0.64 Roubles against the uSA dollar. (UP 64 BASIS POINTS)

Canadian dollar:  1.3000 UP 74 BASIS pts

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

The Dow closed UP 454.97 POINTS OR 1.54%

NASDAQ closed UP 156.15 POINTS OR 1.31%


VOLATILITY INDEX:  27.20 CLOSED UP .50

LIBOR 3 MONTH DURATION: 0.206%//libor dropping like a stone

USA trading today in Graph Form

Dow, S&P, & Bitcoin Soar To Record Close As Dollar & Gold Sink

Consumer Confidence tumbled…

Source: Bloomberg

…COVID cases are soaring, lockdowns are crushing small businesses, and ‘hope’ is fading fast…

Source: Bloomberg

…so Buy The F**king Record Highs in stocks and dump the dollar, bonds, and gold (because who needs ‘protection’ when there is Yellen, vaccines, and stimulus-y hopes).

As we noted earlier, The Dow topped 30k for the first time today – all thanks to $14 trillion in global liquidity puked into the markets (not the economy)…

Source: Bloomberg

Bitcoin also closed at a record high (not quite intraday high), above the $19,100 close on Dec 16thm 2017…

Source: Bloomberg

The reopening/work-from-home trade continues to hold its recent rotation but is not extending…

Source: Bloomberg

Bank stocks soared today…

Source: Bloomberg

But energy stocks continued their massive surge (as healthcare lagged)…

Source: Bloomberg

Extending its month’s massive ga

ins…

Source: Bloomberg

Another day, another short-squeeze. This is just endless since the election!

Source: Bloomberg

Momentum continued its carnage relative to value…

Source: Bloomberg

This 13-day crash is the same 30.6% as we saw in May/June… which is equal to the 2009 collapse…

Source: Bloomberg

If “greed is good”, then “extreme greed is better”…

Source: CNN

And no one needs any protection…

Source: Bloomberg

Which perhaps explains the plunge in gold, breaking below $1800 intraday…

…finding support at the 200DMA…

Source: Bloomberg

And the selling of bonds (30Y up 8bps in the last two days, 2Y flat)…

ds (30Y up 8bps in the last two days, 2Y flat)…

Source: Bloomberg

The correlation between bitcoin and gold has entirely reversed…

Source: Bloomberg

The dollar chopped around the last 24 hours, but ended down today…

Source: Bloomberg

…falling to its weakest against its fiat peers since April 2018…

Source: Bloomberg

While gold and silver sank today, oil prices jumped with WTI back above $45 (its highest since March)…

And copper soared back to 2018 highs…

Source: Bloomberg

The surge in copper sent the copper/gold ratio to its highest since January and implies 10Y Yields should be 120bps higher than they currently are (or copper/gold should plunge)….

Source: Bloomberg

Finally, it seemed appropriate to give John Hussman the final words today as The Dow reaches record highs amid capitulation in the face of overwhelming liquidity…

One of the remarkable features of financial television is the single-minded focus of its talking heads on the latest move – their full-fledged immersion in the now. In contrast, the thinking of a disciplined value-investor is primarily on the long-term and the complete cycle. Our measures of market internals are certainly helpful in navigating shorter periods of speculation and risk-aversion. Still, investors who abandon the Iron Law of Valuation are inviting a world of pain.

Take a set of future cash flows and the current price of those cash flows: the relationship between the two reflects the rate of return that investors can expect to attain over time. That’s not a theory, it’s just arithmetic.

The CNBC interview with Jeremy Grantham offered a striking example of the difference between long-term and short-term thinking. Even as Grantham reiterated the extreme valuation concerns he discussed a few months ago, the interviewer countered, “Markets have risen since then. Why are you still convinced?”

Grantham responded, “Actually, it works quite the other way around. The more spectacular the rise, and the longer it goes, the more certainty one can have that you’re in a real McCoy bubble.”

At the most extreme valuations in history, that proposition might, and should, be obvious, but it simply did not compute in the short-term thinking of the anchors – one whose furrowed brow and scrunched facial expressions vacillated between annoyance, ridicule, and derision. The post-interview discussion instead included this interchange:

“I mean, last time around when you talked to him and he called it a bubble, it did seem a little more plausible. It seems like he’s doubling down.”

“You start to weigh out the possibilities that he could be missing a further rally in the markets.”

Oh, man. The unwinding of this bubble is going to be painful.

END

a)Market trading/THIS MORNING/USA

Gold Tumbles Below $1800, Tests Critical Technical Support

As Crypto soars, non-digital-gold is plunging, with futures breaking below $1800 for the first time since July. Since the election and vaccine news, gold futures have crashed from $1960 to $1798…

The big question is, will gold find support at its 200DMA, or is this a systemic breakdown that ignores the future deficit-spending collapse of credibility in the global reserve currency?

As it appears – for now – that digital gold is preferable to real gold…

Is Benoit back?

END

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

US Home Prices Accelerate At Fastest Pace In Over 30 Months

Analysts expected US home prices to continue their re-acceleration in September (the latest monthly data from Case-Shiller), but the actual data crushed expectations, soaring 6.57% YoY (20-City Composite) versus +5.3% expected (and +5.33% in August)…

Source: Bloomberg

Phoenix, Seattle, San Diego reported highest year-over-year gains among 19 cities surveyed (Detroit excluded from report due to virus-related reporting constraints)

“This month’s increase may reflect a catch-up of COVID-depressed demand from earlier this year,” Craig J. Lazzara, global head of index investment strategy at S&P Dow Jones Indices, said in a statement.

“It might also presage future strength, as COVID encourages potential buyers to move from urban apar

tments to suburban homes.”

As we detailed earlier, three factors are driving home prices higher:

  1. Buyers kept on benefiting from favorable market conditions with mortgage rates reaching the lowest level on record
  2. Demand for second homes skyrocketed amid pandemic
  3. Housing supply remained limited

As Freddie Mac’s Chief Economist (@TheSamKhater) noted:

“While economic growth remains unstable, strong housing demand continues to have a domino effect on many other segments of the economy.”

And given the collapse in rates, and the lagged effect of that drop, some might argue that home prices will continue to accelerate for a while longer…

Source: Bloomberg

END

US Consumer Confidence Slumps In November As Hope Fades

After a mixed bag in October (present situation up, future hope down), analysts expected The Conference Board to report a worsening in overall consumer confidence in November (despite soaring stocks), and in fact things were worse than expected.

Headline consumer confidence slipped to 96.1 from 100.9 (well below the 98.0 expectation) as expectations tumbled from 98.2 to 89.5 and the present situation dropped modestly from an upwardly revised 106.2 to 105.9.

Source: Bloomberg

If stock markets are forward-looking then this should be worrisome…

Interestingly, despite the drop in confidence, buying expectations rose for homes, cars, and major appliances, and expectations for rising incomes also rose modestly.

END

iii) Important USA Economic Stories

Brandon Smith emphasizes the fact that the lockdowns throughout the globe is the necessary step for the globalist’s to do their reset:  one power one currency

a good read..

America’s Economy Cannot Survive Another Lockdown, And The Cult Of The Reset Knows It

Authored by Brandon Smith via Birch Gold Group,

The U.S. economy has been on the verge of collapse for at least a decade, ever since the crash of 2008 and the subsequent explosion in fiat stimulus from the Federal Reserve. While the mainstream media has always claimed that central bankers “saved” us from another Great Depression, what they actually did was set us up for a far worse scenario — a stagflationary implosion of our society.

Here is the primary problem: By injecting trillions of bailout dollars into the system, the Federal Reserve prevented the economy from going through its natural purging cycle. This cycle would have been painful for many, but survivable, and it would have removed large amounts of excess debt, parasitic corporations that produce little or nothing of use, as well as numerous toxic assets with no legitimate value. For a real free market to function, weak or corrupt elements must be allowed to fail and die. Instead, central banks around the world and most prominently the Fed kept all of those destructive elements on life support.

This has created what amounts to a “zombie economy:” a system that needs constant outside support (stimulus) in order to continue moving forward. In the process of keeping zombie corporations and other parts of the body alive, healthy parts of the economy, like the small business sector, get devoured.

The zombie economy is, however, highly fragile. All it takes is one or two major shocks to bring it down, and the moment this happens the whole facade will disintegrate, leaving the public in panic and disarray. This is what is happening right now in 2020, and it will get much worse in 2021.

Bailouts encourage and reward unhealthy financial behavior, and this is why national debt, corporate debt and consumer debt have recently hit historic highs. When every pillar of the economy is encumbered with the weight of debt, any instability has the possibility of bringing all those pillars down at once. The Federal Reserve turned the U.S. into an economic time bomb, and the Fed is itself more like a suicide bomber than some kind of fiscal savior.

The “Great Reset”

I first heard the term “global reset” or “great reset” back in 2014/2015. I wrote an article about how the reset was actually a long term process in my article The Global Economic Reset Has Begun. Christine Lagarde was the head of the IMF back then, and she mentioned it briefly in multiple interviews.

I made a mental note of it because it seemed planted into the discussion very awkwardly, as if it was scripted. I rarely heard it mentioned for years after that. In 2020, as we descend into social and economic chaos, I’m seeing the phrase used everywhere in the media and by globalists.

Over the past decade, globalist institutions have come up with numerous phrases that seem to refer to a worldwide planned and dramatic shift in human society sometime in the near future. The “great reset” is just another phrase for “the new world order.” It is important to understand that the reset these people are talking about has actually been engineered and staged for many years. This is not something that just popped up in 2020 — they have been talking about it since at least 2014. And before that, they talked about the new world order, and “multilateralism,” and the “multi-polar world order,” and Agenda 2030, etc.

The reset is the catalyst phase of an agenda that has been in the works for a long time now. The goal, as they have openly admitted many times, is to centralize the entire globe into one monetary structure, one highly interdependent and socialized economy, and eventually one faceless and unaccountable governing body.

One of the biggest obstacles to the finalization of the reset and the formation of the new world order has been liberty-minded populations across the planet — most of all, the liberty-minded people within America. The U.S. has to be destabilized or eliminated; the old world order has to be brought down before the new world order can be introduced. The people have to be beaten down and desperate, so that when the globalists offer their “reset” as the solution, the people will gladly accept it without question — simply because they want the economic pain and uncertainty to stop.

A common statement made by globalists from Klaus Shwab at the World Economic Forum to the current Prime Minister of Canada, Justin Trudeau, is that the coronavirus pandemic is the “perfect opportunity” to trigger the “great reset.” As globalist Rahm Emanuel is famous for admitting, in crisis there is opportunity to do things you were not able to do before.

In other words, when people panic in the face of crisis, they become easy to manipulate. And, if a crisis doesn’t happen naturally, then why not create a crisis from thin air and use that to cause panic?

Enter the economic lockdowns…

The lockdowns have not only been proven to do nothing to stop the spread of the coronavirus, but they are also a clear attack on what’s left of our economic system. The small business sector in particular is being gutted as more than 60% of those that shut down during the first lockdown were unable to reopen. Small businesses provide more than half of all employment in the U.S.. When they collapse, the U.S. economy will have nothing left except the big-box corporations that the Fed put on life support over a decade ago.

Real unemployment, which is already at 26%, will skyrocket even further if a second national lockdown is initiated. The speedy collapse of the U.S. economy will be assured, and the “great reset” can commence. At least, that is what the globalists want to happen…

With the U.S. presidential election currently being contested, it is hard to say how the next few months will play out in detail. As I have been pointing out since July, contested election is the best possible scenario for the globalists because it creates a Catch-22 situation:

  1. If Trump stays in office, the political left will accuse him of usurping the presidency and there will be mass riots in the streets. Conservatives will be tempted with the idea of bringing in martial law to suppress rioters, and such measures will undermine the flow of the U.S. economy, causing its fragile structure to implode.
  2. If Biden enters the White House, then he will attempt a Level 4 lockdown similar to the lockdowns we have seen in Australia, France, Germany and the UK; perhaps even worse. Our economy will crumble, conservatives will revolt, and Biden will attempt martial law measures.

Either way, the globalists get their crisis, and therein their opportunity.

Surviving the lockdowns and deterring the globalists

But here is where things get less certain for the elites. If liberty-minded Americans organize immediately for security and mutual aid, we can defuse the Catch-22. If we provide for our own security within our own communities, there will be no rationale for Trump to institute martial law. Community security is an awesome deterrent against leftist rioting and looting, and basic economic trade can continue.

By extension, if we organize our own community security as well as localize our economies with barter and trade, we also act as a deterrent to Biden and any ideas he might have of enforcing national lockdowns. The point is, we can’t allow the globalists to dictate the terms of the crisis. We must act to change the rules of the game.

The reset is not a natural inevitability, it is a con, a trap. No matter how bad the crisis in our nation becomes, it is the people — namely the liberty-minded people — who will determine the future, not the globalists. Their plan relies on our panic. Instead of panic, let’s show them a unified front and a plan of our own.

*  *  *

END

BALTIMORE
Armed Baltimore gangs target delivery drivers in a huge wave of
carjackings and robberies.  This city is totally out of control
(zerohedge)

Armed Baltimore Gangs Target Delivery Drivers In Recent Wave Of Carjackings And Robberies

As the coronavirus pandemic drives online holiday shopping – USPS, FedEx, UPS, and Amazon delivery workers distribute more mail and packages than ever. The increased number of deliveries has left delivery vans densely packed with a treasure trove of consumer goods and other valuable items, which have become sitting ducks for armed criminal gangs.

Armed criminal gangs in Baltimore City have recognized the online shopping boom. They’re giving up on robbing brick and mortar stores and have now opted to hijack or rob delivery service vehicles.

Just this week alone, there’s been a series of mail and package delivery drivers targeted in lawless Baltimore City.

According to FOX45 News, the first incident occurred on Monday along Mosher Street, in west Baltimore, an area known for criminal gangs, widespread homicides, and out of control opioid crisis. Investigators said armed suspects hijacked a USPS mail carrier. The van was recovered hours later, but it appears the suspects were able to loot it. USPS is offering a $50,000 reward for any information about the gang involved.

The second incident occurred Tuesday evening at Mary Avenue in northeast Baltimore. A UPS driver had their truck stolen and has since been recovered.

On Wednesday night, investigators say an Amazon delivery van was targeted along Highland Avenue in east Baltimore. Police say the Amazon worker was able to prevent the armed suspect from commandeering the delivery vehicle.

“There’s been an increase in the number of deliveries of packages, parcels and boxes,” Jeffrey Ian Ross, a criminologist with the University of Baltimore, told FOX45.

Ross said the attacks on delivery vans are”unusual.” He said with increased mail volume because of the virus pandemic and holiday season creates an opportunity for armed gangs.

“It’s a cost-benefit calculation,” Ross said. “They may find that other avenues of normal criminality are drying up for them so they’re innovating.”

With the pandemic resulting in increased brick and mortar store closures – criminal gangs are now targeting delivery vehicles as online shopping booms. How long until delivery service workers carry weapons and ride in armored vans?

END
Globalist Mattis urges Biden to eliminate “America First”  policy.  In other words he wants the uSA to go into the toilet bin
(zerohedge)

Trump Blasts “World’s Most Overrated General” After Mattis Urges Biden To “Eliminate America First” Policy

Update (0910ET): It didn’t take long for President Trump to respond to General Mattis’ comments:

Ouch! Who’s the mad-dog now?

*  *  *

As Summit News’ Steve Watson detailed earlier, globalist general James Mattis has called on Joe Biden to ‘eliminate’ the America first policy instituted by President Trump where foreign policy is concerned, claiming that it has ‘damaged’ US national security.

Mattis, who served as Secretary of Defense under Trump from 2017 until last year, is still annoyed that Trump refused to carry on the endless war policy in the middle east, instead ordering troop drawdowns.

In an op-ed published by Foreign Affairs, Mattis writes that “The United States today is undermining the foundations of an international order manifestly advantageous to U.S. interests, reflecting a basic ignorance of the extent to which both robust alliances and international institutions provide vital strategic depth.”

“In practice, “America first” has meant “America alone.” That has damaged the country’s ability to address problems before they reach U.S. territory and has thus compounded the danger emergent threats pose,” Mattis also claims.

The retired four star general then effectively calls on Joe Biden to take America back to the mire it was in after the Bush and Obama administrations.

“In January, when President Joe Biden and his national security team begin to reevaluate U.S. foreign policy, we hope they will quickly revise the national security strategy to eliminate “America first” from its contents, restoring in its place the commitment to cooperative security that has served the United States so well for decades,” Mattis writes.

“The best strategy for ensuring safety and prosperity is to buttress American military strength with enhanced civilian tools and a restored network of solid alliances—both necessary to achieving defense in depth,” he adds, echoing the neo-conservative advocation of interventionism and  ‘peace through strength’ (war) doctrine.

Mattis also threw in a dig at Trump’s coronavirus response, noting “The pandemic should serve as a reminder of what grief ensues when we wait for problems to come to us.”

Mattis earlier this year compared Trump to a ‘Nazi’, and called the President a threat to the Constitution, yet here is is literally calling for the next President to ‘eliminate’ America first.

It is no surprise that such characters are again circling the halls of power with the prospect of a Joe Biden presidency.

end

How the election fraud percolated to its present form:
Blackwell//Breitbart

Blackwell: The Greatest Electoral Heist in American History

AP Photo/Morry Gash, File
AP Photo/Morry Gash, File
10:03

The pieces are finally coming together, and they reveal a masterpiece of electoral larceny involving Big Tech oligarchs, activists, and government officials who prioritize partisanship over patriotism.

The 2020 election was stolen because leftists were able to exploit the coronavirus pandemic to weaken, alter, and eliminate laws that were put in place over the course of decades to preserve the integrity of the ballot box. But just as importantly, it was stolen because those same leftists had a thoroughly-crafted plan, and because they were rigorous in its implementation and ruthless in its execution.

Let’s not forget that liberals have been consumed by a fixation with removing Donald Trump from office for longer than he’s actually been in office. The sordid story of the 2020 election heist begins all the way back in January 2017, when Barack Obama’s former campaign manager and senior advisor, David Plouffe, took a job leading the policy and advocacy efforts of the Chan Zuckerberg Initiative, a “charitable” organization established by Facebook founder Mark Zuckerberg and his wife, Priscilla Chan.

Earlier this year, just as it was becoming clear that Joe Biden would be the Democratic Party’s nominee for president, Plouffe published a book outlining his vision for the Democrats’ roadmap to victory in 2020, which involved a “block by block” effort to turn out voters in key Democratic strongholds in the swing states that would ultimately decide the election, such as Philadelphia, Milwaukee, Detroit, and Minneapolis.

The book was titled, A Citizen’s Guide to Defeating Donald Trump, and it turned out that the citizen Plouffe had in mind was none other than his former boss, Mark Zuckerberg. Although Plouffe no longer officially managed Zuckerberg’s policy and advocacy efforts at that point, the political operative’s influence evidently remained a powerful force.

Thanks to the extensive efforts of investigators and attorneys for the Amistad Project of the nonpartisan Thomas More Society, who have been following Zuckerberg’s money for the past 18 months, it is still possible to expose the inner workings of this heist in time to stop it. Perhaps even more importantly, these unsung heroes of American democracy are dedicated to making sure that such a travesty will not become a permanent feature of our elections.

Under the pretext of assisting election officials conduct “safe and secure” elections in the age of COVID, Zuckerberg donated $400 million — as much money as Congress appropriated for the same general purpose — to nonprofit organizations founded and run by left-wing activists. The primary recipient was the Center for Tech and Civic Life (CTCL), which received the staggering sum of $350 million. Prior to Zuckerberg’s donations, CTCL’s annual operating expenses averaged less than $1 million per year. How was Zuckerberg even aware of such a small-potatoes operation, and why did he entrust it with ⅞ of the money he was pouring into this election cycle, despite the fact that it had no prior experience handling such a massive amount of money?

Predictably, given the partisan background of its leading officers, CTCL proceeded to distribute Zuckerberg’s funds to left-leaning counties in battleground states. The vast majority of the money handed out by CTCL — especially in the early days of its largesse — went to counties that voted overwhelmingly for Hillary Clinton in 2016. Some of the biggest recipients, in fact, were the very locales Plouffe had identified as the linchpins of the Democrat strategy in 2020.

Zuckerberg and CTCL left nothing to chance, however, writing detailed conditions into their grants that dictated exactly how elections were to be conducted, down to the number of ballot drop boxes and polling places. The Constitution gives state lawmakers sole authority for managing elections, but these grants put private interests firmly in control.

Amistad Project lawyers tried to prevent this unlawful collusion by filing a flurry of lawsuits in eight states prior to Election Day. Unfortunately, judges were forced to put those lawsuits aside without consideration of their merits because the plaintiffs had not yet suffered “concrete harm” in the form of fraudulent election results. The law had no remedy to offer because the left’s lawless schemes had not yet reached fruition.

In the meantime, CTCL continued splashing Zuckerberg’s cash — only now, the organization was intent on finding Republican-leaning jurisdictions to give its donations a veneer of bipartisanship. Of course, the number of votes in play in those counties paled in comparison to those in the liberal counties. Philadelphia County alone, for instance, projected that the $10 million grant it received from CTCL would enable it to increase turnout by 25-30 percent — translating to well over 200,000 votes.

The left didn’t put all of its eggs into the CTCL basket, though. High-ranking state officials simultaneously took significant steps to weaken ballot security protocols, acting on their own authority without permission or concurrence from the state legislatures that enshrined those protections in the law.

In Wisconsin, Democrat Secretary of State Doug La Follette allowed voters to claim “indefinite confinement” in order to avoid having to provide a photocopy of their ID when requesting an absentee ballot. The exemption was intended for legitimate invalids, but COVID offered a convenient excuse for circumventing the law, despite the fact that Wisconsin had no pandemic-related lockdown rules that would have rendered anyone “indefinitely confined.” The impact was far-reaching. About 240,000 voters claimed the exemption in 2020, compared to just 70,000 in 2016.

In Michigan, Democrat Secretary of State Jocelyn Benson unilaterally voided the legal requirement that voters provide a signature when requesting an absentee ballot, establishing an online request form. She then took things a step further by announcing that she would “allow civic groups and other organizations running voter registration drives to register voters through the state’s online registration website,” granting partisan groups such as Rock The Vote direct access to Michigan’s voter rolls.

In Pennsylvania, election officials in heavily-Democratic counties that received CTCL funding allowed flawed mail-in ballots to be “cured” — that is, altered or replaced — prior to Election Day. In other counties, officials rightly interpreted this as a flagrant violation of state law. On the night before Election Day, less than 24 hours before polls were due to close, Democrat Secretary of State Kathy Boockvar sought to imbue this illegal practice with the appearance of validity by issuing a statement authorizing counties to contact voters who had cast improper ballots. Even if Boockvar had the statutory authority to do this, which she did not, the timing of her memo made it impossible for rural counties to take advantage of it to nearly the same extent as urban counties.

In numerous states, officials also absurdly consolidated the vote-counting and ballot-curing process in sporting arenas and other large venues, rather than the ward- and precinct-level offices that normally handle the job. This made absolutely no sense as a pandemic-related safety measure, but that didn’t stop the officials from citing COVID as their rationale.

Consolidating the vote-counting tied the other efforts together. Instead of a manageable number of ballots being transported to small offices and counted in the immediate presence of observers from both parties, truckloads of ballots were brought to a single location, inevitably resulting in confusion and commingling of ballots from various sources. Securing those ballots from the time they left voters’ hands to the time they were officially counted should have been the top priority of election workers, but it’s not even clear whether there were logs kept identifying which ballots were delivered by which trucks and when. If such logs even exist, they have not been disclosed.

At the same time, election officials could claim that they were adhering to legal requirements that observers be “in the room” during the counting process while using COVID as an excuse for relegating those observers to the “penalty box,” far from the actual counting and curing.

This was particularly egregious when it came to ballot “curing,” a process that actually involves election workers filling out brand new ballots on behalf of voters whose ballots purportedly could not be read by machine. This could have been due to something the voter themselves did, such as spilling coffee on the ballot. It also could have been due to something that election workers themselves did, such as crumpling ballots to prevent the machines from receiving them, just as a vending machine rejects crumpled bills.

It’s impossible to know exactly what happened, because Republican observers were denied meaningful access to the process — and in some cases literally locked out of the counting rooms while election workers obscured the windows with cardboard.

These election workers, it should be noted, were paid directly by CTCL’s grants. These supposedly impartial arbiters of our electoral process are supposed to work for the people, but they were on Zuckerberg’s payroll.

All of this sounds like the stuff of fiction — the sort of thing one would expect from a cinematic thriller or a spy novel. Sadly, it’s the reality that our country is faced with after years of placidity in the face of increasingly aggressive intervention into our electoral process on the part of Big Tech oligarchs and activists with deep pockets and shallow motivations.

# # #

Ken Blackwell, former Secretary of State of Ohio, is the Distinguished Fellow for Human Rights and Constitutional Governance, at the Family Research Council. He served as United States Ambassador to the United Nations Human Rights Commission from 1990-1993.

end

EMAIL  ROBERT TO ME:

You may recall, that the other day I suggested that Sidney was acting in a official capacity for the office of the President( it is the duty and oath of office to defend the constitution)  and not Trump, in his personal capacity nor for the campaign. There is no way she could speak about the extent of the coup to imply Silicon Valley and China and both sides of the political spectrum, if she was.
I wanted to wait until the filing occurred before I noted that she is registered as a Military lawyer. However, it is now getting out there. You may recall the the head of DOD said that they would interfere in the voting process as the Democratic wanted. However, it is clear that the military takes an oath that goes beyond a sitting President, to defend against all enemies domestic and foreign. And this is what Sidney said, in saying she was acting for the people.
If I and others are correct in connecting the dots, then the filings will tell it all. As a coup is a coup and not a civil matter. More should it be a civil matter, where people use money to escape justice or twist it to their favor. And the most recent moves by Trump to recenter control over the Special Forces under Miller make sense, as to do this for Biden makes no sense.

https://themarshallreport.wordpress.com/2020/11/23/sidney-powell-is-registered-as-a-military-lawyer-and-is-the-only-one-who-can-prosecute-treason-at-a-tribunal/

“Sidney Powell is registered as a MILITARY LAWYER and is the only one who can prosecute TREASON at a TRIBUNAL!”

So don’t let spin doctors and fake media tell you lies about the woman who is bringing down the giants in the swamp! And there are a great number of them, more than anyone could have imagined!

Powell stated that the ‘New World Order’ has ‘OVERTHROWN The Republican Party’ and that the Republican Party sold its soul to the “New World Order” in return for large cash payments in the form of “enormous bribes.” Sidney Powell  warned the GOP risks being “neutered like a bitch” by “the Great Reset” in 2021 if President Trump’s second term is stolen from him by “children of darkness.”

Thank you to Sidney Powell for exposing corruption on all sides. The Republican Party sold out for some cash and the American People have found out! Now wait and see the real uniting- patriots stand for a nation not a party! RINOS join your minions on the left and get out of America’s way! We are for freedom and we are standing up!

These are strong and vividly colorful words from a serious, well seasoned Military Attorney who just won’t roll over and allow the media to drag her reputation through the mud. She is chomping at the bit to get on with the real justice and that is the days in court. Be it the Supreme Court or before the Military Tribunal.

In an interview Sidney Powell stated, “The Republican elite are not safe hiding behind their propaganda fueled media institutions, making unaccountable decisions in D.C., and silencing patriots who speak out against this insanity.

“When Trump begins his second term a tidal wave of punishment will be coming their way, the likes of which has never been seen before in this country.” In a news report by Hal Turner, his sources state that Georgia’s Republican Governor Brian Kemp and the Georgia Secretary of State Brad Raffensperger both allegedly took money from Communist China, perhaps to intentionally STEAL the November 3rd  Election for Joe Biden.

These two sold our votes and constitutional rights to China for a buck! The devil went down to Georgia and indeed he found some to fiddle with!

Click link to read full report: https://halturnerradioshow.com/index.php/en/news-page/news-nation/k-a-b-o-o-m-governor-and-secretary-of-state-in-georgia-took-money-from-china-to-steal-election-from-trump?fbclid=IwAR39S7jlhYktsvvSQpEJCbWPo4XixSk-OPi8OUURa_x3OO1k1v3QdkADqaM

Excerpts from Hal Turner Report: “According to very high level sources from my years working National Security Intelligence with the FBI Joint Terrorism Task Force, the feds have PROOF of the payments to both Kemp and Raffensperger.

A recent report states the feds have PROOF of the payments to both Kemp and Raffensperger.

The Trump election legal team forced the President to WAIT before revealing this, until both Kemp and Raffensperger CERTIFIED the Election results.

According to those same sources, once Kemp and Raffensperger CERTIFIED  the results, their crime was complete.   Both men certified those election results this week.  By law, Mr. Raffensperger was obliged to certify the election results before 5 p.m. on Friday.   Gov. Kemp, had to then certify the results by 5 p.m. on Saturday.   Both men did exactly those acts.

The implications of this revelation are staggering.  First, that a sitting REPUBLICAN Governor would stab his Party’s President, and our nation, in the back, for a foreign government, is utterly horrifying.  People are already asking ” My God, what could they have offered that he would sell out his own people?  His own country?”

That a foreign nation would DARE to pay money in order to rig or steal a U.S. Presidential Election is . . .  a casus belli (Cause for war.)  China appears to have tried to STEAL our freedom by STEALING our Elections.  War is justified.

Again, the national security intelligence sources with whom I have spoken, assure me this information is solid and the proof is already in government hands.

Video Player

00:00
02:09

And now you know why Attorney Sidney Powell said she was going to Blow up Georgia starting with the Governor and Attorney General!

According to Hal Turner, Intel sources now also confirm that “Other Governors, Secretaries of State, State Election officials, County Election officials and even several big city Mayors also allegedly received payments from Communist China and those payments have been tracked as well.”

Dianne Marshall

The Devil Went Down to Georgia – YouTube

SIDE NOTE ADDED: 11/23/2020

The Marshall Report says:

A registered civilian military lawyer IS NOT A JAG which is a Judge Advocate General. Sidney Powell has been a Federal Prosecutor as well as has her own law firm. In Military courts: Other Federal Courts. Anyone going before a military tribunal can have an attorney appointed through JAG or have one from the civilian sector. We are looking at both non-military justice cases regarding treason against the American people and military treason involvement.
Non-military justice cases relating to national security issues (such as treaty interpretation, constitutional law, federal criminal law, and civil liberties) are heard by the general federal courts, including the U.S. Supreme Court, U.S. Circuit Courts of Appeals, and U.S. District Courts. For more information on these courts and where you can find their decisions, see the Library’s Case Law Research Guide.https://guides.ll.georgetown.edu/c.php?g=365986&p=5204253
Laws are complicated but rest assured Sidney Powell knows the law and is both a criminal prosecutor, and defense lawyer. She is now representing the United States Citizens against blatant constitutional, federal criminal, and civil liberty violations WHICH are treasonous and will not relent in representing the citizens at any court level. She is equipped. Moreover, here is a link that shows the laws and offenses those who took part in the election fraud and foreign nation meddling are facing: https://uscode.house.gov/view.xhtml?path=%2Fprelim%40title18%2Fpart1%2Fchapter115&edition=prelim Aside from her extremely huge Federal Attorney record with the Department of Justice with over 500 Supreme Court Cases, Sidney Powell has proven she is more than equipped to represent military justice/Federal cases such as General Flynn in his Military Logan Act case and had it overturned. Deep State is still fighting that ruling. If there is a discrepancy, it would be in the part of the statement that “she is the only one who can prosecute at” should be stated “She is the best one to prosecute at”.

Next on the list:  Newsom who wired one billion dollars to China for masks. Not one mask has been sent. Newsom did not have authorization to order masks from China
(Natural News)

TREASON: GA Gov. Kemp and CA Gov. Newsom bought off by communist China in covid supplies kickback and money laundering schemes – source

Image: TREASON: GA Gov. Kemp and CA Gov. Newsom bought off by communist China in covid supplies kickback and money laundering schemes – source

(Natural News) In July of this year, Natural News reported how California Gov. Gavin Newsom was caught wiring half a billion dollars to communist China as part of a “massive face mask money laundering scheme.”

Back in April, even the mainstream media was questioning what Newsom was up to when it was revealed that he had wired half a billion dollars to an electric car company in China to supposedly purchase “N-95 masks” for the Wuhan coronavirus (COVID-19). This decision was never voted on or approved by legislators, and when pressed about the details of the deal, Newsom refused to disclose them.

Keep in mind that this half a billion dollars was just the first of two installments amounting to a full billion dollars being sent China to supposedly purchase face masks for Californians – face masks that never actually arrived, by the way. As of this writing, the Chinese electric car company in question, BYD, still has the money and has yet to send over a single face mask.

Now, bombshell information is emerging that indicates Georgia Gov. Kemp may be involved in exactly the same scheme. These state officials send huge amounts of money to China under the cover of buying “covid supplies,” then China launders the money into financial kickbacks for the Governor’s family members or business entities.

This is exactly what is now being alleged by attorney Lin Wood, and it describes a shocking pattern of communist Chinese infiltration and corruption of U.S. governors. (See the full interview posted below.)

Listen at 6:17 as Lin Wood explains:

I believe that Brian Kemp is corrupt, and I think he was corrupted with Chinese money. And I don’t think he wants this election overthrown and the real results posted because then Brian Kemp is going to be facing a Trump administration Attorney General, and Brian Kemp would find himself in jail. It’s that simple. He sold himself out, now he’s trying to hide to try to get this election validated even though it’s illegal, because if it’s invalidated, Brian Kemp and a lot of other Georgia people are in trouble, including the Secretary of State.

Also, at the 17:00 mark:

I’m a defamation lawyer. I have stated publicly that Brian Kemp and Raffensperger are corrupt and they took money from the Chinese on the covid deal and on the Dominion voting deal. I bet you anything Brian Kemp won’t sue me for defamation. Because he knows if he did, he’d go into court, I’d have discovery, and I would prove that he did it, that it’s true.

Other indy media sources are also reporting that the Trump administration, via the NSA, has proof of the financial transactions that show Kemp and Raffensperger taking bribery money from communist China. Trump was waiting for Kemp and Raffensperger to complete the crime of “certifying” Georgia’s voting results before moving against them for criminal fraud and corruption.

We are now hearing that communist China ran a web of financial kickbacks and bribes to multiple governors and state officials across America, including California and Georgia, with many other states soon to follow. In every case, governors and state officials transferred huge sums of money to Chinese front companies for “covid supplies” that were either never delivered, or delivered as low-cost, low-quality items nowhere near the stated value. A portion of the extra funds was paid back to family members and specially structured business entities connected to the state officials, giving them control over the illicit funds.

We fully expect Oregon Gov. Kate Brown to soon be implicated in this same criminal corruption scheme. NY Gov. Cuomo is likely also involved

This story is developing, and more information will be emerging this week. Expect criminal indictments soon.

Hear the full interview from the John Fredericks Show here:

“Release the Kraken”

END

Our famous water burst in Atlanta was nothing but a toilet leak and this was solved two hours before everybody was sent home at 2 am

(Epoch Times)

Subpoena in Georgia Election Lawsuit Seeks Video Footage From State Farm Arena

November 24, 2020 Updated: November 24, 2020

The plaintiff in an election lawsuit in Georgia on Monday served a subpoena on State Farm Arena seeking video footage filmed on the premises during and after Election Day.

The subpoena names the Atlanta Hawks, State Farm Arena, and Scott Wilkinson, the executive vice president and chief legal officer of both entities.

The subpoena seeks all recordings taken between midnight Nov. 3 and midnight Nov. 5. The request specifically calls for recordings taken in and around “Room 604,” all elevators that provide access to the floor where that room is located, and all loading docks in the arena.

The plaintiff in the lawsuit, attorney Lin Wood, sent a public Twitter message on Nov. 23 to the defendant, Georgia Secretary of State Brad Raffensperger, citing the subpoena.

“Would someone ask my never-to-be friend Brad Raffensperger @GaSecofState if he has seen this tape of election fraud at State Farm Arena,” Wood wrote. “Several people have seen it. Many more will see it soon. Video camera eye does not lie. How do you spell Election Fraud?”

Wood did not respond to an emailed request for more details. Raffensperger’s office did not respond to an email seeking comment.

Judge Steven Grimberg on Tuesday stayed the discovery in the case in response to a challenge to the subpoena filed by some of the defendants.

“Please note that the court has currently stayed any discovery by either party,” Wilkinson wrote in an email to The Epoch Times.

Wood’s subpoena further demands all documents related to plumbing issues on the premises during the Nov. 3-5 time frame. The request is linked to a pipe that purportedly burst in State Farm Arena on the morning of Election Day. County officials said on the night of Nov. 3 that the plumbing incident caused a two-hour delay to vote counting in a room where absentee ballots were tabulated.

A local attorney who filed a records request about the burst pipe only received a brief text message exchange about the incident describing it as “highly exaggerated … a slow leak that caused about an hour-and-a-half delay” and that “we contained it quickly—it did not spread,” according to a record the attorney, Paul Dzikowski, shared with The Epoch Times.

“As it turns out, there never was a burst pipe or water main, which some news outlets reported,” Dzikowski told The Epoch Times in an email.

“The water inside [State Farm Arena] was caused by a leaking toilet, which, as you know, can be remedied by simply hand-turning off the water supply line to the toilet. In any event, the leak was minimal and was resolved in the early morning hours, well prior to the time the elections staff halted the counting.”

President Donald Trump mentioned the pipe incident in remarks shortly after Election Day.

“In Georgia, a pipe burst in a far away location, totally unrelated to the location of what was happening and they stopped counting for four hours,” the president said.

After a risk-limiting, Georgia certified former Vice President Joe Biden as the winner of the presidential election in the state. Trump has not conceded the race and his campaign has said that a lawsuit will soon be filed in Georgia. On Tuesday, the Peach State will begin a recount requested by the Trump campaign.

Trump is also litigating election challenges in Michigan, Pennsylvania, and Nevada, while a recount is ongoing in two counties in Wisconsin.

Follow Ivan on Twitter: @ivanpentchoukov
end

Iv) Swamp commentaries)

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

Astra Covid-Shot Data Leaves Some Analysts Questions It

The results showed the vaccine stopped an average of 70% of patients from falling sick. However, the company’s formatting of the data that highlighted a 90% effectiveness drew skepticism from SVB Leerink analyst Geoffrey Porges. The analyst said the company highlighted results from a “relatively small” group of volunteers in the trial and wouldn’t get U.S. approval based on a lack of diversity among participants, he wrote in a note… Astra shares fell as much as 3.3% in London trading to the lowest level in almost three weeks, while the company’s U.S-traded shares slid 3.2% to $53.47 in early trading…

https://finance.yahoo.com/news/astra-covid-shot-data-leaves-152550561.html

‘It Will Never Be Licensed in the US’: Analyst Warns AstraZeneca Vaccine Efficacy “Embellished”

SVB Leerink analyst George Porges said Monday that the company is likely to be roundly criticized for publishing its results without enough data on safety and other factors. The vaccine’s (known formally as ChAdOx1) safety disclosure simply stated that “no serious safety events related to the vaccine have been confirmed”, as well as for its results, which the company “tried to embellish” by highlighting a reported 90% efficacy in the relatively small sub-set of subjects in the study who received the modified initial vaccination followed by the “full dose” four weeks later…

   Porges believes that this product will never be licensed in the US due to the design of the company’s trials, which don’t appear to match the FDA’s minimum criteria, and the occurrence of severe safety events that resulted in the extended clinical hold on enrollment in the US (remember when the US put the AZ-Oxford trial recruitment on hold for a month)…

https://www.zerohedge.com/geopolitical/it-will-never-be-licensed-us-analyst-warns-astrazeneca-vaccine-efficacy-embellished

Markit’s US Composite PMI for November showed “an unprecedented increase in prices.”

Biden aides dispute push for quicker, pared-down relief deal 10:46 ET

Biden has been publicly supportive of the Democrats’ bill, and the statement from his team reflects an effort to maintain a unified front…

https://thehill.com/homenews/administration/527148-biden-aides-dispute-push-for-quicker-pared-down-relief-deal

Trump scores wins as Michigan legislature, federal appeals court agree to reviews

Michigan House hearing set for Wednesday and 3rd Circuit Court of Appeals grants expedites reviews.

https://justthenews.com/politics-policy/elections/michigan-lawmakers-hold-hearing-election-irregularities-court-speeds

An 11-Year-Old Changed The Results Of Florida’s Presidential Vote At A Hacker Convention. Veteran hackers have tried for years to get the world to notice flaws in voting machines. Now that they’ve got it, they have to wrestle with scaring people away from voting…  August 11, 2018

https://www.buzzfeednews.com/article/kevincollier/voting-hackers-defcon-failures-manufacturers-ess

Trump: I want to thank Emily Murphy at GSA for her steadfast dedication and loyalty to our Country. She has been harassed, threatened, and abused – and I do not want to see this happen to her, her family, or employees of GSA. Our case STRONGLY continues, we will keep up the good fight, and I believe we will prevail! Nevertheless, in the best interest of our Country, I am recommending that Emily and her team do what needs to be done with regard to initial protocols, and have told my team to do the same.

The Trump Campaign Has a Very Real Chance to Overturn the Election Result in Georgia

What the Trump campaign seems to be focusing on is the validity of approximately 1 million new voter registrations between Nov. 2018 and Nov. 2020 From official Georgia state records: Nov. 2018:  6,248,591 Active Registered Voters; Nov. 2020:  7,233,584 Active Registered Voters… the campaign is looking into the legitimacy of the recent registrations by Georgia voters who then cast absentee ballots.  If their registration was invalid, then they cast illegal votes… If the Biden victory is proven to have been the result of ineligible votes, there should be no issue with the Georgia Legislature naming electors for Donald Trump…   https://redstate.com/shipwreckedcrew/2020/11/23/the-trump-campaign-seems-to-be-quietly-going-about-preparing-a-meaningful-election-challenge-in-georgia-n283960

@bennyjohnson: [DJT Atty] @JennaEllisEsq says the Trump Legal Team clarified that @SidneyPowell1 is working in her own capacity because she is focusing on investigating issues with Dominion, which will take longer, while the campaign is pursuing lawsuits against Election officials.

Powell to Sue Dominion, Smartmatic in New Lawsuit after Separating from Trump Campaign

We haven’t seen the last of the high powered lawyer who secured General Flynn’s freedom

https://nationalfile.com/kraken-update-powell-to-sue-dominion-smartmatic-in-new-lawsuit-after-separating-from-trump-campaign/

I’ve met with Sidney Powell….I’ve seen the evidence with respect to the Dominion machines and the software they used and how they ran it through Barcelona in Spain where they manipulated the votes.  They’ve done this in prior elections.  This time they got caught. I believe the President of the United States knows what they did. I believe that at some point in time you’re going to find that action will be taken under the Executive Order that was entered in 2018 by the President…I think the best is yet to come!” — Lin Wood (Attorney involved in 2020 Election)   https://www.thenationalsentinel.com/2020/11/21/attorney-lin-wood-says-hes-seen-sidney-powells-evidence-trump-won-big-with-410-electoral-votes-as-he-pledges-new-legal-actions-audio/

Sydney Powell had no relationship with Trump and was not involved in his campaign.  She got involved with the case against Gen. Flynn and exposed the fraudulent scheme to ‘get Gen. Flynn’ when someone very senior in the Deep State leaked sensitive evidence to her that exonerated Flynn and revealed the conspiracy to ‘get Flynn’.  For example: the FBI gave the alleged Russian spy (Prof. Halper) that compromised Flynn two cell phones.  She also received other documents about the scheme.  Therefore, it is possible that Powell got involved in the voting system vote fraud controversy because someone very well-placed in national security gave her incriminating info – just like she got regarding Gen. Flynn.

SECOND VIDEO REVEALED of Dominion Voting System’s Eric Coomer Explaining to Elections Officials How to Switch Votes    https://www.thegatewaypundit.com/2020/11/breaking-second-video-revealed-dominion-voting-systems-eric-coomer-explaining-elections-officials-switch-votes-video/

Biden received thousands of non-citizen, illegal votes from non-citizens, study

The study assesses election results in seven battleground states

https://justthenews.com/politics-policy/elections/biden-received-thousands-illegal-votes-non-citizens-not-enough-flip

Michigan Witness and Former US Congressional Candidate Speaks Out — Saw the Biden Ballot Dump at 4 AM and Witnessed Officials Tampering with Tabulators! https://t.co/nEfUAWEiK4

A dozen compelling pieces of evidence of voting irregularities in 2020 election – John Solomon

From ejected ballot observers to fraudulently backdated mail-in votes, the evidence of irregularities is growing nationwide.  https://justthenews.com/politics-policy/elections/dozen-compelling-pieces-evidence-voting-irregularities-2020-election

Largest Number of Cluster Votes In Wayne Co. MI Came From Psychiatric Hospital For Patients With Severe Mental Illnesses – Second most popular cluster of voters in Wayne County, Michigan come from Apartment Buildings… with NO APARTMENT NUMBER given…

https://www.thegatewaypundit.com/2020/11/breaking-report-largest-number-cluster-votes-wayne-co-mi-came-psychiatric-hospital-patients-severe-mental-illnesses/

@RealAPolitics: Trump will win Wisconsin especially after hearing how they are noticing many of the absentee ballots don’t have fold marks in them [The ballots were not mailed in or out!]

Senator Rand Paul @RandPaul: The DC U.S. Attorney today confirmed to me that they will not pursue an investigation of who is funding the thugs who attacked my wife and me and sent a DC police officer to the hospital.   https://twitter.com/RandPaul/status/1330886947053694977?s=02

Democratic Member Seeks To Disbar Two Dozen Lawyers Challenging Election Results – Turley

New Jersey Democratic Rep. Bill Pascrell expanded that campaign this week with a malicious and frivolous demand for New York and other states to disbar roughly two dozen lawyers for representing Trump, the Republican Party, or the Trump campaign in the litigation.  While Democratic members and the media discuss attacks on democracy and the rule of law, they appear to have little problem with campaigns to threaten and harass both lawyers and legislators for raising questions about the election…

   Democratic leaders like Michigan’s Attorney General Dana Nessel have threatened criminal prosecution against those who have posted videos alleging voting fraud and even threatened possible prosecution of legislators who meet with President Trump or raise challenges to the election results.  The media is virtually silent on these threats to coerce lawyers and legislators into silence…  

    What Pascrell is doing is a dangerous form of demagoguery that should be denounced by people of good-faith regardless of their political affiliations.

https://jonathanturley.org/2020/11/23/democratic-member-files-bar-actions-against-two-dozen-lawyers-challenging-election-results/amp/

Turley: Michigan Legislators Face Calls for Possible Criminal Charges after Meeting with President Trump on Certification – What is most disturbing is… these legislators would be acting under their state constitutional authority. They would be investigated for carrying out their official duties under state law As with the attacks on Republican lawyers, the threats against Republican legislators has been met with utter silence in the media… https://jonathanturley.org/2020/11/21/michigan-legislators-face-calls-for-possible-criminal-charges-after-meeting-with-president-trump-on-certification/

The intolerant US left continues to try to abrogate the US Constitution and criminalize dissent.  This should scare the Schiff out of Americans!  Where is the MSM?

Feinstein won’t seek top Judiciary Committee spot after complaints from progressives

Schumer previously said he had a “long and serious talk” with Feinstein

https://www.foxnews.com/politics/feinstein-step-down-judiciary-committee

The internecine fight for control of the Democratic Party and its agenda has begun in earnest!

 

Well that is all for today

I will see you WEDNESDAY night.

One comment

  1. Harvey: Why are you posting all this election conspiracy horse shit? Stick with metals news. You are damaging your credibility.

    Like

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