DEC 21//RAID ORCHESTRATED BY THE BIS AFTER GOLD/SILVER SKYROCKET IN PRICE LAST NIGHT//GOLD DOWN $5.60 TO $1878.30//SILVER HOWEVER IS UP 30 CENTS AS THE CROOKS CANNOT FIND ANY SILVER TO RAID ON//USA AND CHINA RHETORIC INCREASES A COUPLE NOTCHES AS THE USA SANCTIONS CHINA’S TOP OFFICIALS//THE COVID 19 HAS MUTATED( IN LONDON) AS TRANSMISSIONS ARE ARE MUCH EASIER FOR THE VIRUS AND IT IS MORE VIRULENT//CORONAVIRUS UPDATES THROUGHOUT THE GLOBE//USA PASSES 1.4 TRILLION SPENDING BILL OF WHICH 900 BILLION IS FOR COVID RELIEF//ELECTION CHAOS COMMENTARIES//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1878.30 DOWN   $5.60   The quote is London spot price

Silver:$26.16 UP $0.30   London spot price ( cash market)

your data…

Closing access prices:  London spot

i)Gold : $1876.80  LONDON SPOT  4:30 pm

ii)SILVER:  $26.15//LONDON SPOT  4:30 pm

This is your typical raid orchestrated by the crooked BIS. It is easy to manipulate prices when you have no counterparty.
 

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EXECUTIVE ORDER 13848

THIS EMERGENCY DECLARATION IS STILL IN EFFECT!!!!
 
 
 
 
Sept 12.2018
 
“I, DONALD J. TRUMP, President of the United States of America, find that the ability of persons located, in whole or in substantial part, outside the United States to interfere in or undermine public confidence in United States elections, including through the unauthorized accessing of election and campaign infrastructure or the covert distribution of propaganda and disinformation, constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States. Although there has been no evidence of a foreign power altering the outcome or vote tabulation in any United States election, foreign powers have historically sought to exploit America’s free and open political system. In recent years, the proliferation of digital devices and internet-based communications has created significant vulnerabilities and magnified the scope and intensity of the threat of foreign interference, as illustrated in the 2017 Intelligence Community assessment. I hereby declare a national emergency to deal with this threat.”
 
 

 
 

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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:1/1

EXCHANGE: COMEX
CONTRACT: DECEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,885.700000000 USD
INTENT DATE: 12/18/2020 DELIVERY DATE: 12/22/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
661 C JP MORGAN 1
686 C STONEX FINANCIA 1
____________________________________________________________________________________________

TOTAL: 1 1
MONTH TO DATE: 29,237

 
 
 
 
 

ISSUED 0

 

GOLDMAN SACHS STOPPED 0 CONTRACTS.

 
 

TOTAL NUMBER OF NOTICES FILED TODAY:   1 NOTICES FOR 100 OZ  (0.0031 TONNES)

 

TOTAL NUMBER OF NOTICES FILED SO FAR:  29,237 NOTICES FOR 2,923,700 OZ  (90.937 tonnes) 

SILVER//DEC CONTRACT

 

0 NOTICE(S) FILED TODAY FOR nil  OZ/

total number of notices filed so far this month: 8838 for 44,190,000  oz

BITCOIN MORNING QUOTE  $23,922   DOWN 1183

BITCOIN AFTERNOON QUOTE.  :$22,849  DOWN 644 DOLLARS .

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD AND SLV INVENTORIES:

WITH GOLD DOWN $5.60 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

NO CHANGE IN GOLD INVENTORY AT THE GL/

INVENTORY RESTS AT:

 

GLD: 1,167.82 TONNES OF GOLD//

 

WITH SILVER UP 30 CENTS TODAY: AND WITH NO SILVER AROUND:

A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF 3.253 MILLION OZ

INTO THE SLV

INVENTORY RESTS AT :

SLV: 557.461  MILLION OZ./

 

XXXXXXXXXXXXXXXXXXXXXXXXX

 

Let us have a look at the data for today

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IN SILVER THE COMEX OI ROSE BY A STRONG SIZED 1916 CONTRACTS FROM 169,980 UP TO 171,896, AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE GAIN IN OI OCCURRED DESPITE OUR  FALL  OF $0.10 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO SOME BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A GOOD EXCHANGE FOR PHYSICAL. WE  HAD ZERO LONG LIQUIDATION, AND A DECREASE IN SILVER OUNCES  STANDING AT THE COMEX FOR DEC. WE HAD A STRONG GAIN IN OUR TWO EXCHANGES OF 3079 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1060, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  0, MARCH 1060 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1060 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.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.540 MILLION OZ INITIAL STANDING FOR DEC.

FRIDAY, 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 $0.10) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY  SILVER LONGS AS WE HAD A  STRONG GAIN IN OUR TWO EXCHANGES 2976 CONTRACTS). NO DOUBT THE GAIN IN OI ON THE TWO EXCHANGES WAS DUE TO i) SOME BANKER/ STRONG ALGO SHORT COVERING.  WE ALSO HAD  ii)  A GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A GOOD DECREASE IN SILVER OZ STANDING FOR DEC, iii) STRONG COMEX OI GAIN AND  iv) ZERO  LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

We have now switched to SILVER for our spreaders!!

 

FOR DETAILS ON THE SPREADING EXERCISE HERE IS A BRIEF OUTLINE:

 

SPREADING OPERATIONS/NOW SWITCHING TO SILVER  (WE SWITCH OVER TO GOLD ON DEC  1)

SPREADING OPERATION FOR OUR NEWCOMERS:

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED IN SILVER AS WE HEAD TOWARDS THE NEW NON ACTIVE FRONT MONTH OF JAN.

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 GOLD..AND WE WILL NOW MORPH INTO AN ACCUMULATION PHASE OF SPREADING CONTRACTS FOR SILVER.  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 SILVERAS 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  ACTIVE DELIVERY MONTH OF DEC. HEADING TOWARDS THE NON ACTIVE DELIVERY MONTH OF JAN FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS  ACTIVE MONTH OF  DEC. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING NON  ACTIVE DELIVERY MONTH (JAN), 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

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

13,887 CONTRACTS (FOR 15 TRADING DAY(S) TOTAL 13,887 CONTRACTS) OR 69.435 MILLION OZ: (AVERAGE PER DAY 926 CONTRACTS OR 4.63 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF DEC: 49.36 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 5.53% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,643.75 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                    63.77 MILLION OZ ( SLOWED DOWN CONSIDERABLY AGAIN)

DECEMBER EFP:                    69.35 MILLION OZ (ESCALATING IN NUMBERS AGAIN  )

RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2019, DESPITE OUR $0.10 LOSS IN SILVER PRICING AT THE COMEX //FRIDAY.…THE CME NOTIFIED US THAT WE HAD A GOOD SIZED EFP ISSUANCE OF 1060 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE GAINED A STRONG 2197 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR   $0.10 LOSS IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  1060 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED INCREASE OF 1916 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.10 FALL IN PRICE OF SILVER/AND A CLOSING PRICE OF $25.86 // FRIDAY’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. 0.8600 BILLION OZ TO BE EXACT or 122% of annual global silver production (ex Russia & ex China).

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

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

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

 

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 301 CONTRACTS TO 561,792AND FURTHER FROM   OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE LOSS IN COMEX OI OCCURRED WITH OUR SMALL  LOSS IN PRICE  OF $0.90 /// COMEX GOLD TRADING//FRIDAY.WE  HAD SOME BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AS WE HAD A GAIN ON OUR TWO EXCHANGES  (1816 CONTRACTS). WE FINALLY  HAVE A SMALL SIZED INCREASE IN AMOUNT OF GOLD STANDING FOR DELIVERY IN DECEMBER(GOLD STANDING UP TO 92.482 TONNES) AS AGAIN WE HAD ZERO QUEUE JUMPING.THIS ALL HAPPENED WITH OUR LOSS IN PRICE OF $0.90. 

.

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  8//

WE HAD A SMALL SIZED GAIN OF 1816 CONTRACTS  (5.648 TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A FAIR SIZED 2197 CONTRACTS:

CONTRACT .  DEC: 0; FEB: 2171  AND DEC ’21: 0 ALL OTHER MONTHS ZERO//TOTAL: 2197.  The NEW COMEX OI for the gold complex rests at 561,792. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1,896 CONTRACTS: 301 CONTRACTS DECREASED AT THE COMEX AND 2197 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN//TWO EXCHANGES OF 1896 CONTRACTS OR 5.897 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2197) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI  (301 OI): TOTAL GAIN IN THE TWO EXCHANGES: 1,896 CONTRACTS. WE NO DOUBT HAD  1)  SOME BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2 SMALL GAIN IN GOLD OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT DEC. MONTH TO 92.482 TONNES3)  ZERO LONG LIQUIDATION ;4)SMALL COMEX OI GAIN,  5) FAIR SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL….ALL OF THIS OCCURRED WITH  OUR LOSS IN GOLD PRICE TRADING/FRIDAY//$0.90.

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.

 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2020 INCLUDING TODAY

DEC.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 34,915 CONTRACTS OR 3,491,500 oz OR 108.60 TONNES (15 TRADING DAY(S) AND THUS AVERAGING: 2327 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 15 TRADING DAY(S) IN  TONNES: 108.60  TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2019/2020, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 108.60/3550 x 100% TONNES =3.06% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,934.89 TONNES

JANUARY 2220 TOTAL EFP ISSUANCE; : 571.19 TONNES

FEB 2020 TOTAL EFP ISSUANCE :            653.78 TONNES

MARCH TOTAL EFP ISSUANCE                1,113.77  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:                        201.08 TONNES ( INCREASING AGAIN) 

DEC. TOTAL EFP ISSUANCE:                         108.60 TONNES (DECREASING AGAIN)

 

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

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

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A STRONG SIZED 1916 CONTRACTS FROM 169,980 UP TO 171,896 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

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

EFP ISSUANCE 1060 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: DEC. 0 AND MARCH:  1060  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1060 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 1916 CONTRACTS TO THE 1060 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A VERY STRONG GAIN OF 2976 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 14.880 MILLION  OZ, OCCURRED DESPITE OUR $0.10 FALL IN PRICE///

 

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

 

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

3. ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT: 

SHANGHAI CLOSED UP 25.67 POINTS OR .76%   //Hang Sang CLOSED DOWN 191.92 PTS OR .72%    /The Nikkei closed DOWN 48.77 POINTS OR 0.18%//Australia’s all ordinaires CLOSED DOWN 0.06%

/Chinese yuan (ONSHORE) closed DONW AT 6.5543 /Oil DOWN TO 47.39 dollars per barrel for WTI and 50.16 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5543. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5474 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 
 
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY BY A SMALL SIZED 301 CONTRACTS TO 561,792 AND FURTHER FROM OUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS TINY  COMEX DECREASE OCCURRED WITH OUR  LOSS OF $0.90 IN GOLD PRICING FRIDAY’S COMEX TRADING/).

 WE HAD A SMALL EFP ISSUANCE (2197 CONTRACTS).  WE THUS HAD  1)  SOME BANKER SHORT COVERING// ALGO SHORT COVERING//,  2)  ZERO LONG LIQUIDATION  AND 3)  SMALL GAIN IN GOLD OUNCES  STANDING AT THE  COMEX FOR DECEMBER AS A SOME LONGS STANDING FOR DELIVERY   REFUSE TO MORPH INTO LONDON BASED FORWARDS (AND QUEUE JUMPING COMMENCES AGAIN).  COMEX GOLD NOW STANDING AT 92.482 TONNES)//DEC. DELIVERY MONTH (SEE BELOW) 4)   AS WE ENGINEERED A VERY SMALL SIZED GAIN ON OUR TWO EXCHANGES OF 1,896 CONTRACTS. WE HAVE LATELY WITNESSED THE EXCHANGE FOR PHYSICALS ISSUED BEING SMALL….. AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS. WE CAN NOW VISUALLY SEE THAT SHORTS ARE TRYING TO EXTRICATE THEMSELVES FROM THEIR MESS (“TRYING TO GET OUT OF DODGE”) AS LONGS DEPART THE COMEX FOR THE SAFER CONFINES OF LONDON.

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT 8

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 2197 EFP CONTRACTS WERE ISSUED:     DEC 0; FEB// ’21 2197 AND DEC 21: 0 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2197  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: 1,896 TOTAL CONTRACTS IN THAT 2171 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED 301 COMEX CONTRACTS.. THE BIG NEWS IS THE GIGANTIC LEVEL OF DEC 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((92.482 TONNE).  IF YOU INCLUDE  NOVEMBER’S HUGE 34.7 TONNES, OUR COMEX IS OFFICIALLY UNDER ASSAULT. BUT THIS TIME THE GOLD WILL LEAVE FOR EUROPE!!

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $0.90).  AND, THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED   5.897 TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR DECEMBER (92.482 TONNES)

NET GAIN ON THE TWO EXCHANGES :: 2,838 CONTRACTS OR 283,800 OZ OR 8.827  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:  562,734 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.27 MILLION OZ/32,150 OZ PER TONNE =  1750 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1750/2200 OR 79,56% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX TODAY:222,576 contracts// volume extremely poor and falling in numbers

CONFIRMED COMEX VOL. FOR YESTERDAY:  159,174 contracts//  volume: poor//

/most of our traders have left for London

 

DEC 21 /2020

DEC. GOLD CONTRACT MONTH

 
 
INITIAL STANDING FOR DEC GOLD
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
96,823.920 oz
Brinks
Manfra
(6 kilobars)
 
 
 
Deposits to the Dealer Inventory in oz 306.621 oz

 

BRINKS

Deposits to the Customer Inventory, in oz

1999.88
OZ

Delaware

No of oz served (contracts) today
 
1 notice(s)
 
 100 OZ
(0.00319 TONNES)
 
 
 
 
No of oz to be served (notices)
496 contracts
(49600 oz)
1.542 TONNES
 
Total monthly oz gold served (contracts) so far this month
29,237 notices
 
2,923,700 OZ
90.9317 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
 

Withdrawals from Dealers Inventory NIL oz

We had 1 deposit into the dealer

i) Into Brinks dealer:  306.621 oz
 
 
total deposit: 306.621  oz
 
 

total dealer withdrawals: nil oz

 

we had  1 deposit into the customer account

i) Into Delaware: 1999.88 oz

total customer deposit: 1999.88 oz   oz

 

we had  2 gold withdrawals from the customer account:

i Out of Brinks:  96,631.014 oz
ii) Out of Manfra: 192.906 oz (6 kilobars)
 
 
 
total customer withdrawals:  96,823.920  oz

We had 2  kilobar transactions

ADJUSTMENTS: 2//  JPM: dealer to customer:  385.806 oz  (12 kilobars)

and 

2. Malca:  25,027.780 oz (dealer to customer

 
 

The front month of DEC registered a total of 497 contracts for a loss of 1394. We had 1459 notices filed upon yesterday so we FINALLY GAINED A SMALL SIZED 65 contacts or 6500 additional oz will stand in this very active delivery month of December as AGAIN we still witness a lack of queue jumping by our bankers searching for gold metal to put out fires.  Our longs remain steadfast in refusing to morph into the paper EFP scheme in London. The lack of any sizeable queue jumping means gold is scarce over on this side of the pond.

January GAINED 107 contracts to stand at 2125 contracts. FEBRUARY GAINED  298 contracts UP TO 417,296.

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR DECEMBER (92.482 tonnes).

We had  1 notice(s) filed today for  100 oz OR 0.0031 TONNES.

FOR THE DEC 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1  contract(s) of which  0  notices were stopped (received) by j.P. Morgan dealer and  1 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 DEC /2020. contract month, we take the total number of notices filed so far for the month (29,237) x 100 oz , to which we add the difference between the open interest for the front month of  (DEC 497 CONTRACTS ) minus the number of notices served upon today (1 x 100 oz per contract) equals 2,973,300 OZ OR 92.482 TONNES) the number of ounces standing in this active month of DEC

thus the INITIAL standings for gold for the DEC/2020 contract month:

No of notices filed so far (29,237 x 100 oz +497 OI) for the front month minus the number of notices served upon today (1) x 100 oz which equals 2,973,300 oz standing OR 92.482 TONNES in this  active delivery month of December. This is a HUGE amount for gold standing for  DEC delivery month (generally the strongest delivery month of the year). THE COMEX IS UNDER A HUGE FRONTAL ATTACK FROM EUROPEAN BANKS SEEKING PHYSICAL METAL! 

We gained 65 contracts or an additional 6500 oz will stand in this active delivery month of December.
Our banker friends are having a tough time finding gold at the comex to queue jump as tonight’s queue jump was 6500 oz. Rumours are abound that they are paying longs 40 – 60 dollar per oz not to take delivery.  Those that take the offer, circle around and buy another December contract or January/Feb.

NEW PLEDGED GOLD:  BRINKS

474,325.020, oz NOW PLEDGED  SEPT 15.2020/HSBC  14.7 TONNES

60,784.803 PLEDGED  APRIL 3/2020: SCOTIA:1.89 TONNES

282,450.845 oz  JPM  8.78 TONNES

819,082.972 oz pledged June 12/2020 Brinks/25.476 TONNES

63,318.122 oz Pledged August 21/regular account 1.96 tonnes JPMORGAN

178,807.987 oz Pledged Nov 27.2021 MANFRA  5.56 TONNES

total pledged gold:  1,878,769.749. oz                                     58.43 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 535.00 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 92.2482 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 
total registered or dealer  19,079,036.823 oz or 593.43 tonnes
 
 
total weight of pledged:  1,878,769 oz or 58.43 tonnes
 
 
thus:
 
registered gold that can be used to settle upon: 17,200,027.0  (535,00 tonnes)
 
 
 
true registered gold  (total registered – pledged tonnes  17,200,027.0 (535.00 tonnes)
 
 
 
total eligible gold:  18,633,018.818 oz (579.56 tonnes)
 
 

total registered, pledged  and eligible (customer) gold  37,712,055.641 oz 1,173.00 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1046.66 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

 

 
 
Dec 21/2020

And now for the wild silver comex results

 
 

And now for the wild silver comex results

INITIAL STANDINGS

DEC. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
1997.310 oz
 
CNT
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil oz
 
Manfra
 
 
 
 
Deposits to the Customer Inventory
1,378,410.760 oz
 
 
 
Brinks
 
 
 
 
 
 
No of oz served today (contracts)
0
 
CONTRACT(S)
(NIL OZ)
 
No of oz to be served (notices)
474 contracts
 2,370,000 oz)
Total monthly oz silver served (contracts)  8838 contracts

 

44,190,000 oz)

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

total dealer deposits: nil       oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 0 deposits into the customer account (ELIGIBLE ACCOUNT)

 

JPMorgan now has 192.187 million oz of  total silver inventory or 48.85% of all official comex silver. (192.18 million/393.412 million

total customer deposits today:  599,946.450    oz

we had 1 withdrawals:

i) Out of CNT:  1997.310 oz
 

total withdrawals 1997.310      oz

We had 1 adjustments

 Out of Brinks:  dealer to customer:  101,450.108 oz

Total dealer(registered) silver: 151,673million oz

total registered and eligible silver:  393.984 million oz

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

December saw a LOSS of  23 contracts DOWN to 474 contracts. We had 0 notices served upon yesterday so we lost 23 contracts or AN ADDITIONAL 115,000 oz will not stand in this very active delivery month of December as longs cannot find any more silver over here so they have morphed into London based forwards and they also received a fiat bonus for their efforts..

January saw a GAIN of  7 contracts UP to 1353. FEBRUARY saw another gain of 6 contracts to stand at 304.  MARCH  GAINED  1191 contracts up to 146,008.

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

To calculate the number of silver ounces that will stand for delivery in DEC we take the total number of notices filed for the month so far at 8838 x 5,000 oz = 44,190,000 oz to which we add the difference between the open interest for the front month of DEC ( 474) and the number of notices served upon today 0x (5000 oz) equals the number of ounces standing.

Thus the DEC standings for silver for the DEC/2019 contract month: 8838 (notices served so far) x 5000 oz + OI for front month of DEC(474)- number of notices served upon today (0) x 5000 oz of silver standing for the NOV contract month .equals 46,540,000 oz. ..VERY STRONG FOR AN ACTIVE  DEC MONTH.

We LOST 23 contracts or 115,000 additional oz will NOT  stand as they as QUEUE JUMPING STOPPED DUE TO A LACK OF METAL. ON THIS SIDE OF THE POND.

 

TODAY’S ESTIMATED SILVER VOLUME 131,816 CONTRACTS // volume huge /raid//

FOR YESTERDAY  75,016  ,CONFIRMED VOLUME// very good

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO- 2.90% ((DEC 21/2020)

2. Sprott gold fund (PHYS): DISCOUNT to NAV  RISES TO 1.97% to NAV:   (DEC 21/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.90% (DEC 21)

(courtesy Sprott/GATA

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

NAV 19.75 TRADING 19.07///NEGATIVE 3.43

END

And now the Gold inventory at the GLD

DEC 21/WITH GOLD DOWN $5.60 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1167.82 TONNES

DEC 18/WITH GOLD DOWN 90 CENTS TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD////INVENTORY RESTS AT 1167.82 TONNES

DEC 17 WITH GOLD UP $39.35 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.33 TONNES FROM THE GLD////INVENTORY RESTS AT 1167.82 TONNES

DEC 16/WITH GOLD UP $2.55 TODAY A HUGE  CHANGE IN GOLD INVENTORY AT THE GLD: ANOTHER WITHDRAWAL OF 1.17 TONNES FORM THE GLD..//INVENTORY RESTS AT 1170.15 TONNES

DEC 15/ WITH GOLD UP $23.75 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.67 TONNES FROM THE GLD//INVENTORY RESTS AT 1171.32 TONNES//

DEC 14//WITH GOLD DOWN $10.45 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD:: A WITHDRAWAL OF 3.79 TONNES FROM THE GLD//INVENTORY RESTS AT 1175.99 TONNES

DEC 11/WITH GOLD UP $5.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1179.78 TONNES

DEC 10/WITH GOLD DOWN $2.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1179.78 TONNES

DEC9/ WITH GOLD DOWN $35.30 TODAY, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1179.78 TONNES

DEC 8//WITH GOLD UP $9.35 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: ANOTHER WITHDRAWAL OF 3.52 TONNES FROM THE GLD/INVENTORY RESTS AT 1179.78 TONNES// THIS IS AN ABSOLUTE FRAUD TO THE HIGHEST DEGREE AND SIMILAR TO THE THEFT OF THE USA ELECTION.!!

DEC 7/WITH GOLD UP $29.55 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//: A WITHDRAWAL OF 7.12 TONES OF GOLD FROM THE GLD///INVENTORY RESTS TONIGHT AT 1182.70 TONNES

DEC4//WITH GOLD DOWN $1.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY: A WITHDRAWAL OF 1.46 TONNES FROM THE GLD// RESTS AT 1189.82 TONNES.

DEC 3/WITH GOLD UP $10.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS  TONIGHT AT 1191.28 TONNES

DEC 2/WITH GOLD UP $12,00 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD//: A WITHDRAWAL OF 3.51 TONNES FROM THE GLD//INVENTORY RESTS AT 1191.28 TONNES

DEC 1//WITH GOLD UP $38.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLDE//INVENTORY RESTS AT 1194.78 TONNES

NOV 30/WITH GOLD DOWN $11.85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1194.78 TONNES

NOV 27/WITH GOLD DOWN $18.90 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.96 TONNES OF GOLD FROM THE GLD…//INVENTORY RESTS AT 1194.78 TONNES

NOV 25//WITH GOLD UP $0.05 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE PAPER WITHDRAWAL OF 13.43 TONNES FROM THE GLD..IS THE GLD MAKING GOLD VAPOUR DELIVERIES FOR THE COMEX?//INVENTORY REST AT 1199.74 TONNES

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

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at

 

DEC 21/ GLD INVENTORY 1167.82 tonnes

LAST;  970 TRADING DAYS:   +223.75 TONNES HAVE BEEN ADDED THE GLD

LAST 870 TRADING DAYS// +400.91  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

Now the SLV Inventory

DEC 21/WITH SILVER UP 30 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: ADEPOSIT OF 3.253 MILLION OZ INTO THE SLV.//INVENTORY RESTS AT 557.461 MILLION OZ/

DEC 18/WITH SILVER DOWN 10 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6.228 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 554.208MILLION OZ

DEC 17//WITH SILVER UP $1.06 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 547.98 MILLION OZ//

DEC 16/WITH SILVER UP 42 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 547.98 MILLION OZ//

DEC 15/WITH SILVER UP 55 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 547.98 MILLION OZ//

DEC 14/WITH SILVER DOWN 5 CENTS  TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 547.98 MILLION OZ//

DEC 11/WITH SILVER UP 1 CENT TODAY: TWO CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.859 MILLION OZ IN THE MORNING AND A LATE WITHDRAWAL OF 1.394 MILLION OZ FROM THE SLV ////INVENTORY RESTS AT 547.98- MILLION OZ..

DEC 10./WITH SILVER UP 8 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 551.233 MILLION OZ//

DEC 9/ WITH SILVER DOWN 76 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.974 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 551.233 MILLION OZ.

DEC 8/WITH SILVER UP 1 CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESS AT 548.259 MILLION OZ//

DEC 7/WITH SILVER UP 51 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 548.259 MILLION OZ//

DEC4// WITH SILVER UP 11 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.953 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 548.259 MILLION OZ//

DEC 3//WITH SILVER UP  4 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHDRAWAL OF 236,000 OZ/INVENTORY RESTS AT 546.306 OZ

DEC 2/WITH SILVER UP ONE CENT TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.231 MILLIONOZ INTO THE SLV//INVENTORY RESTS AT 546.542 MILLION OZ//

DEC 1/WITH SILVER UP $1.46 TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.311 MILLION OZ/

NOV 30/WITH SILVER DOWN 15 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.311 MILLION OZ.

NOV 27/WITH SILVER DOWN $0.69 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.813 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 544.311 MILLION OZ.

NOV 25/WITH SILVER UP $0.05 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.091 MILLION PAPER OZ FROM THE SLV //// IS THE SLV MAKING SILVER VAPOUR DELIVERIES FOR THE COMEX?//INVENTORY RESTS AT 550.215 MILLION OZ..

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

DEC 21.2020:

SLV INVENTORY RESTS TONIGHT AT  557.461 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

Treasury proposes a crackdown on virtual currency transfers etc.  They will use the futures to do it.

They are now requiring banks and other intermediaries to maintain records and submit reports to verify customer identifies.

Bloomberg/GATA

Treasury proposes crackdown on virtual-currency transfers

 
 Section: 

 

By Saleha Mohsin and Benjamin Bain
Bloomberg News
Friday, December 18, 2020

The U.S. Treasury Department said Friday it is proposing new requirements involving convertible virtual currencies that would require banks and other intermediaries to maintain records and submit reports to verify customer identities for certain transactions.

The Financial Crimes Enforcement Network — a unit within Treasury that guards against money laundering — requested comments on the proposed rules, saying they were aimed at closing loopholes that can be exploited.

… 

“The rule, which applies to financial institutions and is consistent with existing requirements, is intended to protect national security, assist law enforcement, and increase transparency while minimizing impact on responsible innovation,” Treasury Secretary Steven Mnuchin said in a statement. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-12-18/treasury-proposes-cra…

iii) Other physical stories:

Gold trading last night before the raid initiated at 2: am est

Gold & Silver Surge As COVID Relief Bill Looms, Oil Tanks

 
SUNDAY, DEC 20, 2020 – 20:44

Despite a stronger dollar…

Source: Bloomberg

Gold and silver prices are jumping in early Asia trading after reports that a deal has been reached on a $900 billion COVID Relief bill.

Gold futs are back above $1900…

Source: Bloomberg

And Silver futs are back above pre-Vaccine levels…

Source: Bloomberg

Silver’s outperformance has erased all of Gold’s relative gains since August…

Source: Bloomberg

Based on real yields, gold has some catch-up to do though…

Source: Bloomberg

Interestingly, oil is getting hammered as UK lockdowns go to ’11’ and Europe shuts down air-travel from blighty…

Time for The ECB to buy some more bonds… because that will help!

end

https://www.jsmineset.com/2020/12/21/silver-shorts-suffer-a-kick-in-the-wallet/

 

Silver Shorts Suffer A Kick In The Wallet!

J JOhnson’s Commodity Report

Posted December 21st, 2020 at 9:01 AM (CST) by J. Johnson & filed under General Editorial.

 

Great and Wonderful First Day of Winter Folks,

 

       What a day already and it hasn’t even started here with February Gold now trading at $1,884.20, down $4.70 after hitting a high of $1,912 with the low at $1,859. Silver is still positive with its trade at $26.54, up 50.7 cents after spiking to $27.635 (up $1.602) and with a spiked low at $25.12 (down 91.3 cents from Friday’s Comex close). The US Dollar has spiked as well with the value pegged at 90.62, up 66.7 points and coming off the high at 90.95 with the low to beat, at 90.02. Of course, all this happened already before 5 am pst, the Comex open, after all of London closes, and after youtube removed the president’s lawyers opening statement during the senate committee hearing. “YouTube has decided that my opening statement in the U.S. [Senate], given under oath and based upon hard evidence, is too dangerous for you to see; they removed it. To this day, ‘our evidence has never been refuted, only ignored.’ Why is Google so afraid of the truth?” Big Tech is going to have a very hard time when their bosses get arrested, now that “they” decide what is real and not, taking away your chance of making that opinion. Btw, here is the full hearing with Trump’s attorneys talking points, so you can decide.

 

      In Venezuela, Gold is now priced at 18,818.45 Bolivar, showing a loss of 84.89 since Friday morning with Silver doing the opposite, adding 3.795 Bolivar with the last trade at 265.068. Argentina’s price for Gold lost 618.09 with its last price at 155,936.11 A-Peso’s with Silver’s last trade at 2,196.42 A-Peso’s adding 32.64 more since Friday’s pop. Over the Atlantic, and on the other side of the Mediterranean, Turkey now has Gold’s price at 14,484.99 T-Lira, it too pulling back 15.53 since Friday with Silver adding 3.598 T-Lira’s with its last trade at 204.025.

 

     December Silver has only 7 days of trade left to deliver, with a Demand Count at 497 fully paid for 5,000-ounce contracts waiting for receipts and with a Volume of 105 already up on the board with a trading range between $26.99 and $25.41 with the last swap at $26.44, up 49.1 cents so far today. Friday’s full Ice/Comex trades happened in between $26.12 and $25.985 with the last swap at $25.949, a loss of 15.1 cents that also had 105 contracts being purchased with NO CHANGES in the demands which remains stuck at 497. Were the boys at Comex too lazy to change the Volume and Open Interest or is there a Resolute buyer coming in as the receipts are being dished out? Silver’s Overall Open Interest seems to not have the same issue as the delivery numbers do as 177 contracts left the field of play since Friday’s early morning count leaving 169,981 short contracts to suffer a kick in the wallet, and during a holiday week too. Joy to The World!

 

      December Gold’s Delivery Demands are also unchanged from Friday’s numbers, which still total 1,891 fully paid for 100-ounce contracts, and with a trading range between $1,908 and $1,869.10 with the last swap at $1,880.50, a loss of $5.20, with a total of 68 swaps so far today. Friday’s full delivery trades happened in between $1,889.50 and $1,882.30 with the last buy at $1,885.70, a loss of $1.50 that had a total of 276 contracts swapping hands. Gold’s Overall Open Interest only lost 377 contracts leaving a total of 562,093 shorts holding on to their contracts, in the hope their Algo hasn’t been gauged.

 

      Today’s “Ice” (International Commodity Exchange) trading ranges within precious metals, have exceeded the last 2 days of the Triple Witch Week. Not a normal circumstance within my memory banks, and it may mean something as we move forward, since this is supposed to be holiday trading. I blame all this on Erik, who bought some physicals last week. Enjoy the longest night of the year, and have a hot cup of chocolate, sit by that fire, with as many loved ones allowed without getting arrested by your state’s brown shirt Gestapo. Keep the faith and as always …

 

Stay Strong!

Jeremiah Johnson

JeremiahJohnson@cableone.net

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

end

Pay special attention to John Williams and his shadow stats:

LAWRIE WILLIAMS: Gold, lies and statistics.

In discussing the latest outcome of the U.S. Fed’s FOMC deliberations, Martin Murenbeeld, writing in his latest Gold Monitor weekly newsletter, notes “Not to be overlooked from a gold perspective, the real FF (Federal Funds)-rate (the nominal rate of .25% less inflation) is expected to stay around -1.5- 1.6% through 2023. If this isn’t positive for gold, I don’t know what is”. But even these figures have to be suspect – at least as far as the ‘real’ inflation rate is concerned – in this day and age of massaged statistics. They could well be worse (in other words even more positive for gold) were it not for ever-present attempts (mostly successful) to keep the yellow metal’s price rises suppressed.

I am a mining engineer, not a trained economist, so the opinions in this article are more from an engineer’s pragmatic standpoint rather than from a trained economist’s more theoretical assessment and that should thus be taken into account by the reader. But then there is a place for pragmatism in one’s approach rather than being a slave to economic theory.

Gold is, or should be, the ultimate economic bellwether if it was given free rein, but governments, central banks and their allies in the financial sector seem to be doing their utmost to keep the metal’s price under control for fear of unleashing Pandora’s box and bring the whole global financial system to its knees. A rising gold price is seen as a devaluation of the mighty dollar – the cornerstone of the global financial system for now – so gold price appreciation should go hand in hand with a declining dollar, or vice versa. The latter is seeing a weakening almost by the day in view of the U.S.’s enormous debt position. Go figure!

Paul Volcker, who died nearly two years ago was perhaps the most outspoken, and arguably the most successful U.S. Fed chairman – a position he held from 1979 – 1987 under both Democratic and Republican Administrations – in recent years. He has been seen as the Fed chairman responsible for vanquishing runaway U.S. inflation and was an outspoken critic of gold’s role in global financial markets. Indeed he is seen as the architect of President Nixon’s gold window closure when he was in the Treasury Department and before his stint as Fed chairman. He set forth the mantra that the gold price should be controlled through central bank influence – a policy which looks logically to have continued to the current day, although vehemently denied by those who have the ability to implement such programmes. But then who believes such denials?

Let’s take a look at statistics too. “There are three kinds of lies: lies, damned lies, and statistics.” – a saying popularised in the U.S. by Mark Twain and others, but one which seems to ring true today. Every time a government comes up with a change in statistical analysis, the new calculations invariably present a brighter economic picture than their predecessors. This has been highlighted in the U.S. by John Williams’ Shadowstats service which is, according to Wikipedia, perhaps best known for its alternative inflation statistics. Williams says that major changes to the Consumer Price Index were made between 1997–1999 in an effort to reduce Social Security outlays, using controversial changes by Alan Greenspan that include “hedonic regression”, or the increased quality of goods. Shadowstats notes that U.S. inflation, among other government statistics, would be enormously higher (more than 2x so) if calculated under the old 1980 system – something that certainly rings true with the average U.S. consumer.

In his latest posting on the shadowstats website Williams notes the following and this was prior to the latest Fed statement:

• Four Million Unemployed People Are Missing from the Headline Labor Force

• Pandemic-Disrupted U.3 Unemployment Effectively Was 9.0% in November 2020, Not the Headlined 6.7%

• November Unemployment and Payrolls Confirmed Stalled, L-Shaped, Non-Recovering Economic Activity

• For the Second Straight Month, Payrolls Declined Year-to-Year by 6.0%

• Theoretically Equivalent Third-Quarter 2020 GDP (Product) and GDI (Income) Rebounded by Varying Annualized Quarterly Gains of 33.1% and 25.5%, Still Holding Far Shy of Economic Recovery

Unprecedented in 40-Plus Years of Weekly Monetary Reporting: Money Supply M1 Jumped by 14.1% in the Last Two Weeks, in a Post-Election / COVID-19 Flight to Cash, From M2 to M1

Year-to-Year Gain in Monthly November M1 Jumped to a Record 53.2% from the Prior Record of 42.3% in October, Surged to 65.6% in Week-Ended November 30th

• The U.S. Dollar Is at Its Lowest Level Against the Swiss Franc Since January 2015, Down by 10.0% Year-to-Year A Weak Dollar Is Highly Inflationary for the United States and Bullish for Gold

• Collapsed Oil Prices Still Suppressed November CPI and PPI Annual Inflation; Yet, Oil Prices Suddenly Are Surging Anew

He concludes by noting “Holding physical gold protects the purchasing power of dollar assets, irrespective of any near-term volatility in, or manipulation of, gold prices”

The above is a salutary reminder that government statistics are not necessarily a true statement of the ongoing financial, inflation or employment situation as they have been calculated in the past. Governments are in the business of keeping the general population as happy as it could be, and if this involves massaging announced statistics in their favour then so be it!

There are almost certainly continuing moves by governments and central banks to keep gold price rises under control in order to protect their fiat currencies from total collapse in the light of a stratospheric increase in the gold price. However a steady currency value erosion and a controlled gold price increase may well be on the cards. Certainly continuing interest rate suppression policies by the major central banks, leading to negative ‘real’ interest rates suggest that this is probably the case. This does not mean that price suppression by central bank allies in the major futures markets will cease, but it will possibly continue at perhaps a less extreme level than in the past and allow a slow, and relatively steady gold price increase and corresponding ‘stealth’ currency devaluation. If some increase was not allowed then the dam could eventually burst under pent-up pressure and gold might rise out of control bringing the whole financial system crashing down. Volcker once described gold as ‘the enemy’ and provided one keeps one’s enemy close, and thus under control, matters are unlikely to deteriorate too far.

Thus for as long as this status quo continues gold should beat a slow and steady upwards path as predicted by conservative gold bulls like Martin Murenbeeld and CPM’s Jeffrey Christian and a number of bank gold analysts. If the ultra bulls predicting a $10,000 gold price in the next year or so are correct then probably the overall global impact will be disastrous so we hope and pray this will not come about. Be careful what you wish for!

end

20 Dec 2020

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 MONDAY 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 DOWN AT 6.5543 /

//OFFSHORE YUAN:  6.6575   /shanghai bourse CLOSED UP 25.67 PTS OR .76%

HANG SANG CLOSED DOWN 191.92 POINTS OR .72%

2. Nikkei closed DOWN 48.77 POINTS OR 0.18%

3. Europe stocks OPENED ALL RED/

USA dollar index DOWN TO 90.61/Euro FALLS TO 1.2164

3b Japan 10 year bond yield: FALLS TO. +.01/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 107.85/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST BELOW 17,000

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

3e WTI:: 47.39 and Brent: 50.16

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.61%/Italian 10 yr bond yield DOWN to 0.55% /SPAIN 10 YR BOND YIELD DOWN TO 0.04%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.16: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.66

3k Gold at $1875.60 silver at: 25.60   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 179/100 in roubles/dollar) 75.22

3m oil into the 47 dollar handle for WTI and 50 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 103.58 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 .8877 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0813 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

3p BRITAIN VOTES AFFIRMATIVE BREXIT/LOWER PARLIAMENT APPROVES BREXIT COMMENCEMENT/ARTICLE 50 COMMENCES MARCH 29/2017

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.61%

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 0.904% early this morning. Thirty year rate at 1.642%

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

6.  TURKISH LIRA:  UP  TO 7.68..

Futures Crater On Mutant Virus Panic, Energy Tumbles On UK Quarantine

 
MONDAY, DEC 21, 2020 – 7:41

Between the fiscal stimulus deal agreed over the weekend, and the first day of Tesla trading in the S&P (where for every $11.11 dollar move in TSLA stock, the S&P changes 1 point), there was some hope that futures would be even higher record-er today… and they were for about 10 seconds after they reopened for trading at 6pm on Sunday when the Emini briefly spiked to 3,724 just after Senate majority leader Mitch McConnell confirmed congressional leaders had agreed a roughly $900 billion COVID-19 relief bill.

It wasn’t meant to be, however, and just a few hours later, S&P futs had plunged as much as 125 points, or down 2.5%, sliding briefly below 3,600 before rebounding modestly to 3,640 with risk assets were crushed as markets digested newsflow that focused on virus mutations in the UK which sparked a new round of UK lockdowns (as well as a panicked attempt by Londonders to flee), coupled with continued lack of clear progress on Brexit.

Oil & gas, banks and auto names drop over 4% and are the worst hit sectors in a sea of red, with oil tumbling in response to fresh airline travel fears while the dollar soared and VIX exploded 40% (!) rising above 30 after trading near 20 last week.

What sparked the panic were reports of a fast-spreading new coronavirus strain in Britain which threatened to torpedo markets’ optimism over a vaccine-fuelled rebound in economic growth. The strain, said to be up to 70% more transmissible than the original, has put some 16 million Britons under tougher lockdowns and prompted several countries to shut their borders to the UK, effectively overshadowing positive U.S. news on a much-needed stimulus bill. The shutdown of international travel and the flow of freight in and out of Britain threatens chaos for British households and businesses, and sent oil prices plummeting as traders feared demand for oil would plunge as a result of the latest lockdowns.

The U.K. virus mutation is raising concern that the central assumption in all of next year’s forecasts and views could actually turn out wrong,”said Christoph Rieger, head of fixed-rate strategy at Commerzbank AG. “That is quite a scary thought indeed.”

The UK’s last-minute lockdown covering the Christmas break was just the tip of the iceberg of a chaotic weekend: Europe and Canada blocked movement from Britain as fears mounted about a faster-spreading mutation of the virus; at the same time, the U.K.’s biggest port stopped traffic, triggering delays to food supplies and sparking worries about panic buying. And if a mutant virus and ruined holiday wasn’t enough, Brexit rumbled on in the background. The U.K. and EU missed another deadline for getting a trade agreement done, leaving Boris Johnson looking down the barrel of no-deal.

As a result, European markets tumbled with the Eurostoxx 50 sliding over 3%, finding support near 3,400. The Stoxx Europe 600 declined as much as 3.5%, the lowest level in Monday’s session, as several major countries moved to suspend travel from the U.K. amid concerns about a new strain of Covid-19. U.S. futures extend losses. Adding to pessimism, the U.K. and the European Union failed to make progress on Brexit talks (this is hardly a surprise). Energy shares led decline among sectors, followed by banks and automakers; travel and leisure stocks lost around 5%. Germany’s DAX was the marginal underperformer. Losses of more than 3% on UK equities were led by bigger tumbles at UK banks Lloyds and Barclays which were both down more than 6% at one stage.

Our main concern for the next few months in Europe would be that the UK (COVID-19) variant is already out of control on the continent, which would add to the pressure on the healthcare systems, forcing even stricter lockdowns at a growing economic cost,”wrote Gilles Moëc, chief economist at AXA Investment Managers.

Asian stocks were also hit on concerns over the latest coronavirus outbreaks and related lockdowns across the region, as well as a rampant new strain in the U.K. The MSCI Asia Pacific Index traded 0.5% lower even after the U.S. Congress reached a deal on a roughly $900 billion stimulus package to bolster the world’s largest economy. Thailand’s equity benchmark led losses, sinking as much as 5.1%, the most since March 23. The nation may expand a lockdown as health authorities search for over 10,000 people with ties to a record cluster of coronavirus cases found in a coastal province near Bangkok. Stocks in India, where virus infections crossed the 10 million mark, and the Philippines were among the other major losers. Utilities was the worst-performing sector in Asia on Monday, followed by energy shares as oil fell toward $47 a barrel.

It wasn’t all bad news: Congress is set to vote today on a $900 billion relief package after Democrats and Republicans struck a compromise over Fed emergency lending programs, and the bill includes help for small businesses and direct payments of $600 to most Americans. Lawmakers also passed a one-day funding measure to keep government doors open today.

Still, having read countless Wall Street research reports predicting a correction before year-end, traders sold first and didnt even bother to ask questions.

In FX, the Bloomberg Dollar Spot Index rose the most since March and the Treasury curve bull flattened as concern about a new variant of the coronavirus found in the U.K. fueled haven bids; the dollar rose against all its G-10 peers while risk-sensitive currencies plunged. Speculators’ dollar positioning remains broadly bearish, meaning the long-awaited short squeeze may finally come. The dollar index rose as high as 90.8, up more than half a percent and well off last week’s 89.723 level that marked the lowest since April 2018. The new round of UK chaos sent the pound 2.5% lower below $1.32 putting it on track for its biggest daily fall since March.

Norway’s krone fell even more, and posted the biggest slump since June as oil prices plunged on fears that the outbreak would hurt demand. The Japanese yen lost half a percent at 103.8 per dollar while the euro fell 1% at $1.216.

In rates, U.S. and German bond yields slipped, with 10-year U.S. yields down six basis points. British two-year borrowing costs hit record lows. Treasury yields were off the richest levels of the day, although remain lower in a sharp bull flattening move spurred by effects of fresh European curbs following a new coronavirus strain found in the U.K. European stocks subsequently under downside pressure along with S&P 500 e-minis, leaving Treasury yields lower by up to 5.5bp across long-end of the curve. Treasury 10-year yields around 0.90%, richer by 5bp vs Friday’s close and outperforming bunds by 2bp; 10-year gilt yields down by 7bp following tighter restrictions on the U.K., while pound drops 1.9% The U.S. two-year/10-year Treasury yield curve, another gauge of growth expectations, flattened after rising to its steepest level in almost three years on Friday amid optimism about the stimulus bill..

2%. Gilt lead a broad-based richening move. Bunds and treasuries bull flatten, trading cheaper to gilts by ~4-5bps at the long end. Semi-core and peripheral spreads are wider with core markets doing most of the work as BTPs are little changed. In FX, Bloomberg dollar index rallies ~1%, trading just off best levels. NOK lags G-10 peers. GBP drops over 2%, eventually finding support around a 1.32-handle. MEX and RUB are the worst hit in EM FX. Crude futures slump with WTI down 5.5% near $46.50, Brent trading down 5%, off lows of $49.20. After a brief look above $1,900, spot gold drops to lows of $1,855/oz before recovering. Base metals trade poorly, with LME lead down ~3.3%.

In commodities, Brent crude futures dropped more than 5% while copper fell off the $8000-per-tonne mark it recently scaled for the first time since 2013. “The message is clear: oil prices are still very much and will continue to be at the mercy of the pandemic,” said Stephen Brennock of oil broker PVM. Alternative assets such bitcoin as gold reversed, with cryptos tumbling and the precious metal reversing an earlier gain to $1,900 and dropping 0.6% to $1,868. Gold’s weakness on a day of a big equity selloff will rekindle memories of the market slump of March when investors sold assets en masse in a rush for the dollar.

Looking at the day ahead now, data releases will include UK retail sales for November, the Ifo business climate indicator from Germany for December, and the November leading index from the US. We’ll also get a monetary policy decision from the Central Bank of Russia.

Market Snapshot

  • S&P 500 futures down 1.8% to 3,639.00
  • MXAP down 0.5% to 195.48
  • MXAPJ down 0.6% to 645.05
  • Nikkei down 0.2% to 26,714.42
  • Topix down 0.2% to 1,789.05
  • Hang Seng Index down 0.7% to 26,306.68
  • Shanghai Composite up 0.8% to 3,420.57
  • Sensex down 2.7% to 45,681.32
  • Australia S&P/ASX 200 down 0.08% to 6,669.89
  • Kospi up 0.2% to 2,778.65
  • Stoxx Europe 600 down 2% to 388.14
  • German 10Y yield fell 3.1 bps to -0.602%
  • Euro down 0.4% to $1.2205
  • Italian 10Y yield rose 2.5 bps to 0.454%
  • Spanish 10Y yield fell 1.6 bps to 0.029%
  • Brent futures down 5.5% to $49.37/bbl
  • Gold spot down 0.5% to $1,872.86
  • U.S. Dollar Index up 0.5% to 90.51

Top Overnight News from Bloomberg

  • Congress reached a deal on a roughly $900 billion spending package to aid the U.S. economy. House passes a one-day stopgap bill to keep the government open
  • European countries suspended travel to the U.K., as a full lockdown came into force in London and southeast England. Sydney’s 5 million residents are being asked to curb activities over the next few days amid a growing outbreak, while Thai authorities closed a seaside province near Bangkok following a record spike in new cases
  • Japan’s cabinet approved a record budget for next fiscal year that tops $1 trillion and adds to the developed world’s heaviest debt burden
  • Oil fell below $48 a barrel in Asian trading — after posting a seventh weekly gain — on concern about a mutation of Covid-19 discovered in the U.K.
  • Japan will issue a record 221.4 trillion yen ($2.1 trillion) of debt next fiscal year, including a boost to 40-year bonds to meet investor demand for long-dated securities
  • Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the U.S. to a “strong-dollar” policy — and may cause trembles on Wall Street if she doesn’t

A quick look at global markets courtesy of Newsquawk

Asia-Pac equities traded mostly lower following a similar downbeat lead from Wall St where US equities pulled back from fresh record intraday highs in what was a volatile Friday session ahead of Tesla’s S&P debut today. State-side, futures opened firmer but thereafter trimmed gains upon Senate Majority Leader McConnell’s announcement of a bipartisan COVID relief bill, with some participants citing “sell the news” play. Meanwhile, equity futures across Europe saw more pronounced losses as a Brexit trade deal is yet to be reached whilst the region tackles the new COVID-19 variant seemingly emanating from Britain – with DAX Mar’21 futures extending downside after falling below 13,500. Back to APAC, the ASX 200 (-0.1%) was pressured by its financial and travel & leisure sectors as COVID-related restrictions were tightened for the Greater Sydney area, whilst Nikkei 225 (-0.2%) initially traded with gains and rose to the highest since April 1991 before pulling back from best levels just shy of 27,000 as it conformed to the broader losses across the region. South Korea’s KOSPI (+0.2) was initially hampered by the rising COVID-cases with the country reporting over 1,000 cases for a fifth consecutive day, but the index later pared losses. Elsewhere, Shanghai Comp (+0.8%) outperformed despite the PBoC maintaining its LPR setting as expected, as China said it will continue to implement proactive fiscal policy and maintain the sustainability, stability and continuity of macro policies, whilst sources suggested China’s leadership plans to set its real economic growth target at about 8% for 2021. Conversely, the Hang Seng (-0.7%) saw a lacklustre session as heavyweight oil and banking names traded with losses, with Alibaba also pressured by source reports that Jack Ma in early November offered to hand over parts of Ant Group to the Chinese government. Finally, 10yr JGB futures traded with modest gains in tandem with the broader gains across the fixed-income complex amidst the downbeat risk tone, whilst the long-end of the curve saw some pressure as the Japanese Ministry of Finance announced that 40yr JGB issuance is poised to increase by JPY 100bln per auction starting April.

Top Asian News

  • Thailand May Widen Lockdowns as Food Workers Hit; Shares Drop
  • Taiwan Export Orders Surge Most Since 2010 on Demand for Tech
  • Asian Stocks Drop for Second Day as Virus Concerns Hit Sentiment
  • Indonesia Sees Up to 2.2% GDP Drop in 2020, 5% Growth 2021

European equities trade notably lower (Eurostoxx 50 -3.9%) as the twin threats of a more transmissible COVID strain and increasing likelihood of a no deal Brexit weighs on prices. On the former, various European nations have imposed travel bans on the UK after PM Johnson imposed tighter lockdown restrictions on London and parts of the South East amid fears over a more transmissible strain of COVID; accordingly the travel & leisure sector is getting hit hard today with IAG (-12.0%), easyJet (-11.3%), Carnival (-11.4%) and Ryanair (-6.8%) all suffering. Furthermore, from a UK perspective, the passing of another Brexit “deadline” yesterday after MEPs demands for a deal by Sunday (in order to have enough time to vote on the matter) were not met has made the prospect of a no deal outcome more likely. The subsequent softening of the GBP has provided some mild reprieve for the less-domestically-focused FTSE 100 (-3.0%) and is actually outperforming peers; albeit, still substantially pressured. Stateside, losses were initially less pronounced as participants took some solace from the stimulus updates in which Congress is expected to vote on a COVID relief package today after a compromise was struck in discussions. However, as the session progressed, the selling contagion spread to the US with the e-mini S&P lower by 2.5% and heading towards 3600 with the e-mini Russell lower by 3.7% and e-mini Nasdaq down 1.7%. An anti-cyclical bias can be seen in Europe with heavy losses seen in oil & gas, travel & leisure, banks and auto names as part of a typical lockdown play. Within the oil & gas space, Shell (-6.7%) are a noteworthy laggard alongside softer oil price and announcing that it will have to write down the value of some of its assets by USD 3.5-4.5bln after a series of impairments. With a bulk of the price action being swayed by broader macro themes, rather than stock specific developments, individual movers that fall outside of this category are on the light side. That said, against the trend of the market, Danske Bank (+0.4%) are firmer on the session after the US Treasury Department’s Office of Foreign Asset Control has closed the investigation regarding the Co. and Estonia with no action to be taken.

Top European News

  • Shell Points to a Another Bleak Quarter for Big Oil
  • Ruble Drops Most in Nine Months on Tumbling Oil, Sanctions Woes
  • Travel Pain Spreads as Europe Blocks U.K. Flights on Virus Fears: U.K. Travel, Retail Stocks Tumble on New Virus Curbs

In FX, the Pound was already back pedalling before reports about a fresh and more fast-spreading form of the coronavirus that has subsequently forced PM Johnson into tightening restrictions in London and the South East to Tier 4, while also prompting a change in the more relaxed rules for Xmas. However, Sterling has subsequently retreated further as other nations take preventative action by closing borders with Britain in an attempt stop the aggressive mutation entering, all while the UK and EU remain at loggerheads over fisheries beyond the deadline set by Brussels to get a deal ratified. Cable has now fallen through 10 and 21 DMAs on the way down to circa 1.3190 from around 1.3478 and 1.3625 or so last Thursday when a trade pact seemed close if not quite imminent, while Eur/Gbp is probing 0.9200 compared to sub-0.8900 at one stage. Technically, the 50 DMA at 1.3209 has now given way, so further declines in Cable cannot be ruled out.

  • DXY – Cable collapse aside, the Dollar is also benefiting from broader demand on safe-haven grounds as risk sentiment sours markedly on heightened fears over COVID-19 contagion and the fallout from no Brexit deal that will counter some of the positivity or relief if US fiscal stimulus is finally delivered later today. Hence, the index has rebounded firmly from recent deep lows to establish a considerably firmer base on the 90.000 handle and revisit 90.500+ between 90.187-91.022 parameters vs 89.723 last week.
  • NZD/AUD/CAD – No surprise to see the high beta currencies suffer most after the pro-cyclical Pound as the Kiwi and Aussie recoil towards or just beneath 0.7000 and 0.7500 respectively, while the Loonie is trying to contain losses near 1.2900 against the backdrop of plunging crude prices. Back down under, the Aud also has pandemic issues of its own to contend with given the outbreak in Sydney that has resulted in a return to more stringent measures.
  • JPY/EUR/CHF – Even the Yen is yielding to Greenback advances, albeit also wary perhaps that Japanese PM Suga has apparently drawn a line in the sand at 100.00 after rolling out a supplementary budget, as Usd/Jpy trades close to the upper end of a 103.25-85 band. Elsewhere, the Euro is eyeing any stops below 1.2130 after triggering enough at 1.2164 to take out the 10 DMA (1.2160) and the Franc is holding around 0.8900 following mixed Swiss sight deposit balances post-SNB and the US Treasury designating the country as a currency manipulator.
  • SCANDI/EM – Not much solace for the Nok via Norges Bank Governor Olsen downplaying the likelihood of reverting to NIRP as the aforementioned reversal in oil along with increasingly bearish risk undermines the Crown more than the Sek, while EMs are floundering across the board and even GOLD is underperforming having had a brief look above Usd 1900/oz..

In commodities, WTI and Brent have succumbed to the drop in broader sentiment this morning given negative COVID-19 developments out of the UK and the associated impact on demand via travel and other components alongside the undertone of no breakthrough in Brexit discussions. Currently, WTI and Brent are lower by over 5.0% with the benchmarks having moved below the USD 47/bbl and USD 50/bbl marks respectively in European hours; in a continuation of APAC performance. The aforementioned negative factors have served to overshadow, thus far at least, US fiscal progress with the US House rules committee to meet from 13:00GMT/08:00 to begin preparation for a vote (timing TBC). Returning to the crude complex and as Brent has dropped below the USD 50/bbl mark, a figure it only recently reclaimed on the 10th of December, if the pressure exacerbates throughout the day participants will be mindful of the 50-DMA at USD 44.98/bbl before the 100-DMA at USD 44.05/bbl. Fundamentally, newsflow explicitly for the complex has been sparse in European hours but overnight/weekend we did see updates from Saudi’s Energy Minister that themselves and Russia are on the same page regarding market management alongside renewed tensions around Iran after the US Secretary of State attributed rocket attacks in Baghdad to the nation. Moving away from crude and to metals spot gold has, in-spite of the broader tone, not received much in the way of haven-allure with the precious metal down by just shy of USD 10/oz at present compare to earlier losses of as much as USD 25/oz. Such downside is in-light of the USD’s performance with the DXY in proximity to highs ~91.00 largely because of GBP being significantly hampered regarding Brexit and COVID-19 updates in the region.

US Event Calendar

  • 8:30am: Chicago Fed Nat Activity Index, prior 0.8

3A/ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT: 

SHANGHAI CLOSED UP 25.67 POINTS OR .76%   //Hang Sang CLOSED DOWN 191.92 PTS OR .72%    /The Nikkei closed DOWN 48.77 POINTS OR 0.18%//Australia’s all ordinaires CLOSED DOWN 0.06%

/Chinese yuan (ONSHORE) closed DONW AT 6.5543 /Oil DOWN TO 47.39 dollars per barrel for WTI and 50.16 for Brent. Stocks in Europe OPENED ALL RED//  ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5543. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5474 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER 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

China continues to annoy the USA as they tail a USA destroyer through the Taiwan Strait

(zerohedge)

China Tails US Destroyer In 12th Provocative Sail Through Of Taiwan Strait In 2020

 
SATURDAY, DEC 19, 2020 – 15:30

China’s PLA military says it tailed an American warship through the Taiwan Strait on Saturday, which makes precisely a dozen such incidents in the contested strait in 2020.

In a new statement the PLA’s Eastern Theatre Command said it scrambled air and naval forces which “tailed and monitored” the US Navy vessel.

Beijing further charged that the destroyer’s provocative passage was meant as a “flirtatious” message to political forces seeking Taiwan’s “independence”.

The Arleigh Burke-class guided-missile destroyer USS Mustin, via US Navy

The Chinese statement said:

“[US missions] deliberately raise the temperature of the Taiwan issue, as they fear calm in the Taiwan Strait, and send flirtatious glances to Taiwan independence forces, seriously jeopardizing peace and stability in the strait“, the Chinese statement said.

The US Navy confirmed the sail-through by the guided missile destroyer USS Mustin, which it considers a routine ‘freedom of navigation’ operation in international waters in a follow-up statement.

According to Reuters:

The U.S. Navy said the guided missile destroyer USS Mustin had conducted “a routine Taiwan Strait transit (on) Dec. 19 in accordance with international law”.

“The ship’s transit through the Taiwan Strait demonstrates the U.S. commitment to a free and open Indo-Pacific,” it added.

This is the 12th sailing through the strait by the U.S. Navy this year.

Meanwhile Taiwan’s Defense Ministry said the USS Mustin’s movements through the passage were legitimate and that “the situation was as normal.”

Tensions are on edge during this final countdown of the last weeks of the Trump presidency, wherein the president is still ratcheting up various sanctions and punitive actions against Chinese tech companies and government officials, also related to the Hong Kong issue. Washington has also of late pursued an unprecedented number of major weapons sales to Taiwan, which Beijing considers a severe violation of the ‘One China’ policy status quo.

END

Taiwan Scrambles Jets & Warships As China Aircraft Carrier Shandong Sails Through Strait

 
MONDAY, DEC 21, 2020 – 12:00

Just a day after the Chinese PLA Navy trailed a US warship through the contested waters of the Taiwan Strait, alarms have been further raised in the region given China just sent its newest domestic-built aircraft carrier, the Shandong, through the strait on Sunday

While it’s ostensibly for the purpose of “routine drills” in the South China Sea, according to a PLA Navy statement issued Monday, Taiwan still mobilized large forces to monitor the carrier and accompanying battle group of ships.

The PLA statement said it’s part of “normal arrangements made in accordance with annual plans” and that “in the future, we will continue to organize similar operations based on training needs.”

Taiwan scrambled a significant amount of naval and aerial assets in response to the Shandong carrier’s sail through:

Taiwan’s Ministry of National Defense said the Shandong was accompanied by four warships and had set out from the northern Chinese port of Dalian on Thursday. In a statement on its website, it said the convoy continued to move south.

Taiwan said it sent six warships and eight military aircraft to monitor the Chinese ships’ movements.

As both the US and Chinese sides continue bolstering naval presence in the South China Sea, there’s greater potential and likelihood of an ‘accidental’ military encounter, especially given the status of currently stalled military-to-military talks which are aimed precisely at de-escalation and avoiding unnecessary conflict.

Last week agreed upon China-US military maritime consultative agreement (MMCA) meetings broke down after each side blamed the other for being a “no show”. At first the US blamed the Chinese officers for failing to participate.

Following this, PLA spokesperson Liu Wensheng said, “The U.S. side did not abide by the consensus reached between the two sides and called black white to make the accusation.”

“The US side insisted on forcing its unilateral agenda, arbitrarily reducing the length of the annual meetings and changing the nature of the talks,” Liu said further of what was to be an online meeting. “The US side even tried to force China’s participation without an agenda agreed by both sides.”

Regional tensions are especially on edge given the unpredictable nature of Trump’s continuing pressure campaign on China during his last weeks in office before Biden enters the White House.

END

The war with China escalated a few notches this morning with a new travel ban on top China officials over human right abuses.

(zerohedge)

Pompeo Slaps Broad New Travel Ban On Top China Officials Over Human Rights Abuses

 
MONDAY, DEC 21, 2020 – 12:40

On Monday Trump’s State Department continued the aggressive pressure campaign on Beijing, slapping new sweeping travel restrictions on top Chinese government officials tied to human rights abuses.

The new visa restrictions appear subject of broad interpretation by the Department of Homeland Security (DHS) given they apply to any “Chinese officials who are believed to be responsible for, or complicit in, policies or actions aimed at repressing religious and spiritual practitioners, members of ethnic minority groups, dissidents, human rights defenders, journalists, labor organizers, civil society organizers, and peaceful protestors,” according to a just released statement by Secretary of State Mike Pompeo.

Even family members of those communist party officials whose visas will be blocked or revoked can be targeted, according to the official statement.

“China’s authoritarian rulers impose draconian restrictions on the Chinese people’s freedoms of expression, religion or belief, association, and the right to peaceful assembly,” Pompeo began in his statement. “The United States has been clear that perpetrators of human rights abuses like these are not welcome in our country.”

As Pompeo recalled, this new action is on top of prior travel restrictions: “This year, the United States has imposed visa restrictions and financial sanctions on CCP officials involved in the horrific abuses taking place in Xinjiang, restrictions on access to Tibet, and the destruction of Hong Kong’s promised autonomy, ” he said. “Today’s action creates additional restrictions applicable to all CCP officials engaged in such repressive activities, no matter their location.”

The Trump administration has announced new punitive actions and sanctions targeting Chinese officials and companies on a near daily bases, continuing from last week:

Again, this is yet further evidence the Trump administration is not backing off the anti-Beijing pressure campaign even in the final weeks of his presidency.

Indeed the pressure appears designed to “box in” Biden on China, and these measures will be hard to roll back – likely taking months to do so at the very least, assuming the political appetite to reverse the policy is there.

END

4/EUROPEAN AFFAIRS

UK//CORONAVIRUS UPDATE SUNDAY

“Trying To Get The Hell Out” – Emergency Lockdown In London Triggers Mass Exodus

 
SUNDAY, DEC 20, 2020 – 11:05

With more than 16 million Britons now required to stay at home as coronavirus lockdown went into effect on Sunday, tens of thousands of Londoners scrambled to get out of the capital Saturday night.

Boris Johnson’s bombshell announcement to introduce Tier 4 restrictions in London and southeast England, to mitigate the spreading of a new strain of the coronavirus, sparked traffic jams and crowded train terminals as people made a mad dash out of the metro area before draconian new rules were imposed at midnight.

“Traffic data showed jams increasing inside London and its surrounds, and train prices were surging with increased demand,” The Independent said.

Here are the scene from last night.

Even on Sunday, roadways leaving London appear congested.

Additionally, people fled on public transportation. For instance, by evening, train tickets sold out at several London stations, including Paddington, Kings Cross, and Euston.

Footage taken at London’s St Pancras station showed no social distancing was followed as people were only concerned about escaping the city by midnight.

A woman told the Press Association that she and her husband, along with their young son, made the “split decision” to leave the metro area for the coast to escape the new lockdown.

“We just made the decision to leave based on the fact that my parents said come, and we couldn’t bear the thought of no fresh air and a toddler going rogue round a small flat for the foreseeable,” she said.

Other train stations in the metro area experienced “travel chaos.”

A Tier 4 level for London and southeast England – about one-third of the English population – means millions will have to stay at home except for essential reasons. Retail and indoor leisure and entertainment will be closed, along with social mixing will be limited to meeting one other person. In other words, Christmas is canceled.

Those who decided to spend the holidays in London rushed to stores to load up on essentials.

Johnson had initially planned to ease the draconian measures ahead of the holidays, but an abrupt change occurred after government scientists found the virus mutated.

We asked the question last month: Can new strains of COVID-19 render vaccines completely useless?

While it’s anyone’s guess how long the new coronavirus restrictions will stay, a reminder from Goldman Sach’s team of analysts showed virus cases accelerate in colder weather and will lead to a dramatic slowdown in economies during 4Q20 into 1Q21.

END

World scrambles to isolate the UK over fears over Mutant COVID 19

(zerohedge)

World Scrambles To Isolate UK Over Fears “Mutant” COVID Strain Could Spread

 
MONDAY, DEC 21, 2020 – 10:07

We noted several times over the weekend that a mutated version of the virus first unveiled by Health Secretary Matt Hancock last week has started to concern authorities across Europe, as many of the UK’s former brethren in the EU closed borders (at least temporarily) upon news that a mutated version of the virus that’s believed to be 70% more infectious has been spreading in London and other parts of southeast England.

Suddenly, the same scientists who have insisted that mutations related to COVID-19 didn’t pose a serious threat are pleading with Londoners (who now face a daunting Level 4 lockdown where life and commerce has effectively ground to a halt) to watch their every step, while some scientists in the US have urged health authorities to cut off all air travel to the UK.

France has led the charge of EU countries cutting off travel to Britain.

French transportation officials imposed a 48-hour suspension of freight transit across the English Channel, leaving thousands of truck drivers stranded in their vehicles on Monday as the roads leading to England’s ports were turned into veritable parking lots.

On Monday, European Union leaders are expected to meet to hammer out a “common doctrine” for dealing with the variant’s threat. Meanwhile, Boris Johnson will hold an emergency meeting with key members of his government Monday to discuss a response.

One of his spokesmen said Johnson would hold a briefing later today to deliver an update on travel.

But France isn’t alone in barring travel from the UK. Austria, Belgium, Bulgaria, France, Germany, Ireland Italy and the Netherlands all announced restrictions on travel within hours of Mr. Johnson’s speech. Poland said it would suspend flights between the two countries starting Monday night. Beyond the EU, Canada, India, Iran, Israel and Russia issued restrictions of their own.

Even Hong Kong, now effectively under CPC control, has barred flights from Britain, making things more difficult for any dissidents trying to escape.

Sophia Chan, Hong Kong’s health secretary, acknowledged that the travel ban comes as many students are returning to Hong Kong for the holidays. “We have never imposed such severe restrictions on any region in the past, but the variant in Britain is spreading so rapidly that it is necessary to block the spread of this mutation from its source,” she said at a news conference.

News of the “variant” and the ensuing panic couldn’t come at a worse time for the UK, as trade and traffic piles up along its ports and borders amid growing fears that the UK will crash out of the single market and customs union without a trade deal, forcing its one-time EU allies to do business with it on WTO rules.

As a result, the GBP has seen its worst daily slump against the dollar in months.

Using typically blunt language, NY Gov Andrew Cuomo warned that “right now that variant is getting on a plane and flying to JFK.” But his pleas to tighten travel restrictions were ignored, as the US travel advisory for Britain remained unchanged at a ‘Level 3’. /p>

To be sure, one scientist warned that there wasn’t yet enough data to completely rule out the possibility that human behavior played a role in the heightened infectiousness.

Estimates of greater transmissibility for the variant is based on modeling and has not been confirmed by lab experiments, said Muge Cevik, an infectious disease expert at the University of St. Andrews in Scotland and a scientific adviser to the British government. “Over all, I think we need to have a little bit more experimental data,” she said. “We can’t entirely rule out the fact that some of this transmissibility data might be related to human behavior.”

Back in the UK, the situation was chaotic as the new variant effectively ruined Christmas. Police started blocking people from boarding trains, as BoJo suddenly scrapped an exception that would allow people to see their relatives during the Holiday Period.

The situation is bad news for Heathrow, which had only just recorded its busiest week of travel yet since the lockdowns began.

Cops in London, meanwhile, are increasing patrols and looking for any groups violating the new restrictions.

Eurostar, which operates passenger trains through the Channel Tunnel, will scrap services from London to Brussels Monday. Even before the new curbs, Eurostar had been operating a minimal service of one train a day in each direction on most routes to allow for emergency travel. Anyone leaving London faced quarantining on their return as well as possible restrictions at their destination.

Look ahead, what exactly could this mutation mean for our assumptions about the vaccine rollout. Well, according to several scientists in the NYT, we can’t say for certain. But the risks are certainly much bigger than we understood only weeks ago.

Until now, every mention of mutations and the possible impact on the vaccines’ efficacy was met with dozens of scientists waving away the situation as highly implausible. But now, things have changed: And people are scared.

“This thing’s transmitting, it’s acquiring, it’s adapting all the time,” said Dr. Ravindra Gupta, a virologist at the University of Cambridge, who last week detailed the deletion’s recurrent emergence and spread. “But people don’t want to hear what we say, which is: This virus will mutate.”

The UK isn’t the only country suffering from the mutation. On Sunday, it emerged that in South Africa, a similar version of the virus had emerged, sharing one of the mutations seen in the British variant, according to scientists who detected it. That virus has been found in up to 90% of the samples whose genetic sequences have been analyzed in South Africa since mid-November. It has also been discovered in a handful of other countries, including Denmark and Australia, as well as the British overseas territory of Gibraltar.

Scientists have been tracking mutations since the beginning of the outbreak. Most look harmless, but there’s an expectation that as vaccines arrive, the virus will adopt more useful adaptations.

Still, the strength of the human immune system means all but the most immuno-compromised patients should continue to survive. There’s no evidence that the virus is evolving into some kind of hyper-efficient killer. And scientists in the UK insist that vaccines developed by Pfizer, Moderna and AstraZeneca will work to stop the mutated vaccine as well.

However, one paper published on ScienceMag.org warned that certain variations that have been documented in the viral genome could eventually make it more difficult for the immune system to detect it.

If anything, the discovery of this “variant” is just a reminder that scientists don’t really know all that much about this virus – despite the fact that it is unquestionably the most studied on earth right now – or how long vaccines will protect patients, or whether the virus might instead mutate too quickly to make doses economically.

END

GREECE/TURKEY

Greece arrests two Turkish spies after they surveilled naval bases. They are Greek citizens but are part of the Muslim community.

(zerohedge)

Greece Arrests 2 Alleged Turkish Spies After They Surveilled Naval Bases

 
SATURDAY, DEC 19, 2020 – 7:35

There’s yet more inter-NATO trouble brewing after on Friday a senior Greek government source revealed Greece has arrested a staff member of the Turkish consulate in Rhodes on suspicion of spying along with another Greek national, according to Reuters. Turkey’s foreign ministry has been quick to condemn the detention as a severe violation of the consular staff member’s rights.

The news comes after last Saturday Greek police initially detained the two men in Rhodes that stand accused of being Turkish spies and questioned them. One of the men who appears to have been newly arrested was the Turkish consular staff member. While few details have been given, both of the arrested are being reported as holding Greek citizenship, but crucially they are part of Greece’s Muslim minority community.

The Jerusalem Posthad previously reported that “One of the men arrested is suspected of transferring intelligence on sea operations to the second man, who worked at the Turkish consulate in Rhodes.” The former worked on a ferry which travels from Rhodes and other Greek islands.

It appearsdirectly connected with monitoring Greek military movements in response to Turkey’s oil and gas exploration and drilling in the East Mediterranean. For much of the past year Greece and Cyprus, backed by EU ally France, have conducted military drills aimed at deterring Turkish violations of Greek and Cypriot waters.

Here are the few details known as reported in Reuters on Friday:

“One person was working at the Turkish consulate in Rhodes and the second man worked on a passenger ship which was operating the Rhodes-Kastelorizo line as a cook,” a police official told Reuters. Kastelorizo is a small Greek island just off the Turkish coast.

Turkey’s foreign affairs ministry said the consulate worker was a secretary at its Rhodes representation.

Greek media reports suggest the pair were observed conducting possible espionage-related activities centered on taking pictures of Greek ships and navy bases.

Regional media alleged they were caught filming or photographing warships and military sites of the Greek army – and then secretly providing them to the Turkish consulate:

“A laptop and three cell phones have been confiscated from the house of the secretary, and have been sent to the Greek Directorate of Criminological Investigations for analysis and retrieval of data.

The chef had been under surveillance since last August when he was seen photographing military positions and facilities around the island of Kastellorizo in collaboration with the secretary of the Turkish consulate, reports Greece’s daily Kathimerini.”

Turkey’s foreign ministry issued the following statement on the detentions: “In the process that led to the arrest of our employee, who holds Greek nationality, Greece violated his freedom, security and respect for private and family rights in the framework of the European Convention of Human Rights and Vienna Convention on Consular Relations,” the ministry said.

GREECE/TURKEY

Preparing for war?

Preparing For War? Greece Increases Military Spending 57% Amid Row With Turkey

 
MONDAY, DEC 21, 2020 – 2:00

Via AlMasdarNews.com,

Greece has increased military spending by 57% to 5.5 billion euros, amid increased tension with Turkey in the eastern Mediterranean, a new report has revealed.

To strengthen their forces, Greece intends to complete the purchase of 18 French-made Rafale fighters, and to acquire new frigates, helicopters and drones.

Greece also intends to modernize its old fleet of F-16 fighters and increase its troop numbers by 15,000Reuters reported last week.

According to regional sources last week:

“During the parliamentary debate on the 2021 budget, Prime Minister Kyriakos Mitsotakis said the government aims to increase spending on military capacity by 57% compared to that of 2019.”

Turkey and Greece have been involved in a long-standing disagreement over the eastern Mediterranean waters, with the conflict reaching its peak in 2020 after Ankara made the decision to begin seismic surveys near a Greek island.

Athens has accused Ankara of violating its sovereignty, while also destabilizing the region with their interventions in Syria and Libya. The authorities in Athens have called on the European Union to sanction Turkey, a move that Ankara has criticized.

Turkey maintains that their gas and oil exploration activities in the eastern Mediterranean do not threaten any of its neighbors, adding that they are acting within international law.

Greece recently welcomed the new US sanctions against Turkey over the purchase and acquisition of the Russian-made S-400 system. Turkey has condemned these sanctions against its defense industry personnel and vowed to retaliate.

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAQ

Iraq devalues its currency to 1450 dinars to the dollar as nationwide unrest grows. The pandemic and the low sales of its oil is to blame for depleting reserves.

(zerohedge)

Cash-Strapped Iraq Drastically Devalues Dinar As Fears Of Nationwide Unrest Grow

 
 
SATURDAY, DEC 19, 2020 – 16:00

According to the latest IMF forecasts,Iraq’s GDP will contract 12% this year, more than that of any other OPEC member under a production quota.

A global pandemic-induced demand slump (among other domestic issues) has pushed Iraq – under its OPEC membership – to slash oil production by over 12% year-over-year (however, Iraq, along with other nations such as Nigeria, has pumped above its quota on several occasions since then).

In the most recent sign of Baghdad’s growing desperation for cash as its economy unravels, Iraq sought an upfront payment of about $2 billion in exchange for a long-term crude-supply contract as state coffers dwindle and school teachers go unpaid.

As Bloomberg reports, the letter from SOMO, the Iraqi state-owned agency in charge of petroleum exports, was first reported by the Iraq Oil Report.

“SOMO, on behalf of the Ministry of Oil, has the interest to propose a long-term crude-supply deal in exchange for prepayment for a fraction of the total allocated quantity,” according to the letter, which was marked strictly confidential.

The anxiety is rising as officials fear a repeat of the upheaval last year that brought down the government and saw hundreds of protesters killed.

All of which has led to the decision to devalue the Dinar… drastically.

As Bloomberg’s Khalid Al-Ansary reports, the central bank reduced the official rate to 1,450 dinar per dollar, the first devaluation since 2003, it said in a statement. That’s from about 1,190 previously. Dollars will be resold to local banks at 1,460 dinar apiece.

Inflation imminent? or hyperinflation?

The embattled nation’s central bank is taking the steps to avoid depleting its foreign-currency reserves…

Prime Minister Mustafa Al-Kadhimi, who came to power in May, has warned that the government will struggle to pay civil servants without raising more debt.

END

6.Global Issues

Finally the WHO admits that the PCR tests are emitting false positives

(Knightly/Off Guardian.org)

WHO (Finally) Admits PCR Tests Create False Positives

 
SUNDAY, DEC 20, 2020 – 8:12

Authored by Kit Knightly via Off-Guardian.org,

Warnings concerning high CT value of tests are months too late…so why are they appearing now? The potential explanation is shockingly cynical…

The World Health Organization released a guidance memo on December 14th, warning that high cycle thresholds on PCR tests will result in false positives.

While this information is accurate, it has also been available for months, so we must ask: why are they reporting it now? Is it to make it appear the vaccine works?

The “gold standard” Sars-Cov-2 tests are based on polymerase chain reaction (PCR). PCR works by taking nucleotides – tiny fragments of DNA or RNA – and replicating them until they become something large enough to identify. The replication is done in cycles, with each cycle doubling the amount of genetic material. The number of cycles it takes to produce something identifiable is known as the “cycle threshold” or “CT value”. The higher the CT value, the less likely you are to be detecting anything significant.

This new WHO memo states that using a high CT value to test for the presence of Sars-Cov-2 will result in false-positive results.

To quote their own words [our emphasis]:

Users of RT-PCR reagents should read the IFU carefully to determine if manual adjustment of the PCR positivity threshold is necessary to account for any background noise which may lead to a specimen with a high cycle threshold (Ct) value result being interpreted as a positive result.

They go on to explain [again, our emphasis]:

The design principle of RT-PCR means that for patients with high levels of circulating virus (viral load), relatively few cycles will be needed to detect virus and so the Ct value will be low. Conversely, when specimens return a high Ct value, it means that many cycles were required to detect virus. In some circumstances, the distinction between background noise and actual presence of the target virus is difficult to ascertain.

Of course, none of this is news to anyone who has been paying attention. That PCR tests were easily manipulated and potentially highly inaccurate has been one of the oft-repeated battle cries of those of us opposing the “pandemic” narrative, and the policies it’s being used to sell.

Many articles have been written about it, by many experts in the field, medical journalists and other researchers. It’s been commonly available knowledge, for months now, that any test using a CT value over 35 is potentially meaningless.

Dr Kary Mullis, who won the Nobel Prize for inventing the PCR process, was clear that it wasn’t meant as a diagnostic tool, saying:

with PCR, if you do it well, you can find almost anything in anybody.”

And, commenting on cycle thresholds, once said:

If you have to go more than 40 cycles to amplify a single-copy gene, there is something seriously wrong with your PCR.”

The MIQE guidelines for PCR use state:

Cq values higher than 40 are suspect because of the implied low efficiency and generally should not be reported,”

This has all been public knowledge since the beginning of the lockdown. The Australian government’s own website admitted the tests were flawed, and a court in Portugal ruled they were not fit for purpose.

Even Dr Anthony Fauci has publicly admitted that a cycle threshold over 35 is going to be detecting “dead nucleotides”, not a living virus.

Despite all this, it is known that many labs around the world have been using PCR tests with CT values over 35, even into the low 40s.

So why has the WHO finally decided to say this is wrong? What reason could they have for finally choosing to recognise this simple reality?

The answer to that is potentially shockingly cynical: We have a vaccine now. We don’t need false positives anymore.

Notionally, the system has produced its miracle cure.

So, after everyone has been vaccinated, all the PCR tests being done will be done “under the new WHO guidelines”, and running only 25-30 cycles instead of 35+.

Lo and behold, the number of “positive cases” will plummet, and we’ll have confirmation that our miracle vaccine works.

After months of flooding the data pool with false positives, miscounting deaths “by accident”, adding “Covid19 related death” to every other death certificate…they can stop. The create-a-pandemic machine can be turned down to zero again.

…as long as we all do as we’re told. Any signs of dissent – masses of people refusing the vaccine, for example – and the CT value can start to climb again, and they bring back their magical disease.

END
CDC launches probe after thousands of negatively affected recipients to the vaccine.
(zerohedge)

CDC Issues New Guidelines, Launches Probe After 1000s Negatively-Affected Following COVID-19 Vaccination

 
SUNDAY, DEC 20, 2020 – 9:50

Thousands of people have been unable to work or perform daily activities, or required care from a healthcare professional, after getting the new COVID-19 vaccine, according to new data from the Centers for Disease Control and Prevention (CDC).

As of Dec. 18, 3,150 people reported what the agency terms “Health Impact Events” after getting vaccinated.

The definition of the term is: “unable to perform normal daily activities, unable to work, required care from doctor or health care professional.”

As The Epoch Times’ Zachary Stieber reportsthe people reporting the negative effects reported them through V-safe, a smartphone application. The tool uses text messages and web surveys to provide personalized health check-ins and allows users to quickly tell the CDC if they are experiencing side effects.

The CDC and Pfizer, which produces the vaccine with BioNTech, didn’t respond to request for comments.

The information was presented by Dr. Thomas Clark, a CDC epidemiologist, to the Advisory Committee on Immunization Practices, an independent panel that provides recommendations to the agency, on Saturday.

The CDC said that 272,001 doses of the vaccine were administered as of Dec. 19. That means most people who were vaccinated did not experience negative effects.

The CDC has identified six case reports of anaphylaxis, or severe allergic reaction, that occurred following vaccination with the new vaccine, Clark reported. Other case reports were reviewed and determined not to be of anaphylaxis.

In an update on Friday, the agency stressed that anyone who has ever had a severe allergic reaction to any ingredient in a COVID-19 vaccine should not get that vaccine. People with severe allergic reactions to other vaccines should consult their doctor about getting the new vaccine while those with a history of anaphylaxis not related to vaccines “may still get vaccinated.”

“CDC recommends that people with a history of severe allergic reactions not related to vaccines or injectable medications – such as allergies to food, pet, venom, environmental, or latex – may still get vaccinated,” the CDC said.

“People with a history of allergies to oral medications or a family history of severe allergic reactions, or who might have a milder allergy to vaccines (no anaphylaxis) – may also still get vaccinated.”

Anyone who experiences anaphylaxis after getting the first vaccine should not get the second shot, the CDC said. COVID-19 vaccines are meant to be given across two doses, spaced about three weeks apart.

At least five healthcare workers in Alaska experienced adverse reactions after getting the Pfizer vaccine, the Anchorage Daily News reported. One of two experiencing adverse reactions at the Bartlett Regional Hospital required treatment at the hospital for at least two nights.

An Illinois hospital halted vaccinations after four workers suffered adverse reactions.

Dr. Peter Marks, the director of Food and Drug Administration’s Center for Biologics Evaluation and Research, told reporters in a call on Thursday night that the agency is working with the CDC, and colleagues in the United Kingdom, on probing the allergic reactions.

“We’ll be looking at all of the data we can from each of these reactions to sort out exactly what happened. And we’ll also be looking to try to understand which components of the vaccine might be helping to produce them,” he said.

A container of 5 doses of COVID-19 vaccine sits on a table at Roseland Community Hospital in Chicago, Ill., on Dec. 18, 2020. (Scott Olson/Getty Images)

Noting that he was speculating, Marks said it’s known that polyethylene glycol – a component present in both the Pfizer vaccine and one from Moderna that regulators approved earlier in the day – can be associated, uncommonly, with allergic reactions.

“So that could be a culprit here. And that’s why we’ll be watching very closely,” he said. “But we just don’t know at this point.”

Both vaccines have “systemic side effects,” which are “generally mild,” Marks said.

They go away after a day. According to the FDA website, the most commonly reported side effects include tiredness, headache, muscle pain, and chills. The agency said they go away after several days.

One volunteer in Pfizer’s late-stage clinical trial experienced an allergic reaction. Two people in Moderna’s phase 3 clinical trial experienced anaphylactic reactions, the company said during a meeting on Thursday. But the data showed the benefits outweigh the risk, FDA officials said, as they granted emergency use authorization to the vaccines about seven days apart.

People who get a COVID-19 vaccine should be monitored for at least 15 minutes after getting vaccinated, according to the CDC.

If someone experiences a severe allergic reaction against getting a COVID-19 vaccine, vaccination providers are supposed to provide rapid care and call for emergency medical services. The person should continue to be monitored in a medical facility for at least several hours.

END
IMPORTANT: CORONAVIRUS UPDATE/SUNDAY
This frightens me: a huge COVID mutation on the spikes causes this virus to be more infectious and deadly.
(zerohedge)

Scientists Warn UK COVID Mutation “Unlike Anything We Have Seen”; Cali Cases Near 2MM As Apple Closes Stores: Live Updates

 
SUNDAY, DEC 20, 2020 – 11:55

Summary:

  • Allergic reactions prompt CDC investigation
  • Global cases top 76MM
  • UK alarmed at new mutations making virus more infectious
  • Apple shuts California stores
  • Scientists warn UK mutation “unlike anything we’ve seen”
  • Poland announces holiday lockdown measures
  • Italy sees decline in daily deaths

* * *

Like we noted last night, Boris Johnson has placed London (and parts of southeast England) on an even more restrictive lockdown as scientists have warned about a new mutated strain of SARS-CoV-2 – what the press and Health Secretary Matt Hancock have taken to calling “a new variant” that’s purportedly 70% more infectious than the original COVID-19

We’re not epidemiologists, but that certainly sounds to us like a notable differentiation in the profile of the virus. Maybe even significant enough to prompt scientists to worry whether the conspicuously high efficacy numbers given for the Pfizer and Moderna vaccines might not apply to other strains of the virus.

After a nurse fainted on live TV upon being vaccinated with her first dose of the Pfizer vaccine, health authorities have received reports of at least six patients who went into anaphylactic shock after receiving the vaccine. That kind of an allergic reaction, which could be deadly, has been attributed to an ingredient in the shot. According to the CDC, as of Dec. 18, 3,150 people reported what the agency terms “Health Impact Events” after getting vaccinated, most of which were less severe than the allergic reactions.

Meanwhile, one week after the first doses of the Pfizer vaccine were loaded on to trucks in Michigan, the newly-approved Moderna vaccine will begin distribution across the US starting Sunday, after a CDC panel recommended its use for people 18 and older. Unfortunately for all the last-minute shoppers in the Golden State, Apple is temporarily closing all of its retail stores in California as the COVID-19 pandemic continues to surge across the state. On Saturday, New York state’s case numbers retreated from the record set Friday. On Saturday, Moderna voted to recommend the vaccine to anyone age 18 and older.

On Sunday, as concerns about allergies erupted in the national press, the CDC acknowledged that it had been made aware of the allergic reactions to the vaccine, and would investigate, along with issuing new guidelines, about these and other “health-impact events”. Events like these also occurred during the trials, though the link to the vaccines in each case was kept under wraps.

Circling back to the situation in the UK, the FT on Sunday published a lengthy feature where scientists commented on the data where the new viral “variant” is causing havoc. In the second paragraph, the reporter acknowledged the alarming speed of the mutations seen in the virus’s genetic code.

The variant’s most remarkable feature is the number of mutations that have shaped it. Sir Patrick Vallance, the government’s chief scientific adviser, said 23 letters of the viral genetic code have changed, many of which are associated with the spike protein that the virus uses to get into human cells. Coronaviruses do not usually mutate so quickly, typically accumulating about two genetic changes per month.

“This new variant is very concerning, and is unlike anything we have seen so far in the pandemic,” said Jeffrey Barrett, director of the Covid Genomics Initiative at the Wellcome Sanger Institute.

After appearing in Kent in late September, the mutation was responsible for 28% of infections in London by early November and in the week ending Dec. 9 accounted for 62%.

Yesterday, the government moved London and the surrounding area to “Tier 4” because of worries about the new strain.

UK PM Boris Johnson has pledged to give 350K people their first doses of the vaccine in two weeks. What’s more, the UK drug regulator is expected to approve the AstraZeneca-Oxford vaccine before the end of the year, despite its flaws and the many questions surrounding the research.

Looking to the international numbers, cases passed 76MM as of Sunday morning, with deaths topping 1.6MM.

In the US, hospitalizations, deaths and new cases were all off their record highs from the past week.

Here’s the latest news on the COVID-19 outbreak from overnight and Sunday morning.

  • New York state reported 9.9K cases, the day after it set a record since the start of the pandemic of 12.7K new infections, Governor Andrew Cuomo said in statement. Hospitalizations and the positive-test rate fell slightly. The state reported more than 100 fatalities for the third consecutive day.
  • California added 43.6K new Covid-19 cases yesterday, surpassing the 1.8MM mark, while deaths climbed by 272 for a total of 22,432, according to the health department’s website. The number of intensive-care unit beds in the state rose by 50 to 1.3K despite an increase in hospital admissions of 433 to 17.4K.
  • France registered 17,565 new cases on Saturday, with the rolling seven-day average climbing for a fourth day to 13,605 cases, the highest in three weeks. The share of positive tests fell to 5.6% from 5.9% a day earlier. Deaths linked to the virus increased by 189 to 60,418, health authorities reported.
  • Italy saw the number of daily deaths from coronavirus decline to 553 on Saturday against 674 the previous day. There were 16,308 new cases against 17,992 on Friday.
  • Poland, which announced tough new lockdown measures for the holiday season, reported 11.3K new coronavirus cases on Saturday, compared with 11,013 on Friday. ;
  • The Oxford-AstraZeneca Covid-19 vaccine is expected to be approved for use in the U.K. before the end of the year, the Telegraph reported, citing senior Whitehall sources.

* * *

We noted yesterday that India, despite successfully slowing the pace of its COVID-19 outbreak, has become the second country after the US to surpass the 10MM case mark. The world’s second most populous nation achieved the unwanted record on Saturday after notching 25,000 cases daily over the past week, down from a peak of almost 100,000 new infections per day in September. India has recorded more than 145K deaths from the virus, the third-highest tally after the US and Brazil. And in the most crowded urban slums, studies show that up to half the population has already developed COVID antibodies.

end
 
 
 

7. OIL ISSUES

Oil slides on a level 4 Great Britain lockdown due to mutation of the COVID. The mutation occurs on the spikes of the virus and this virus is 70% more transmissible and more deadly

(zerohedge)

end

8 EMERGING MARKET ISSUES

CORONAVIRUS UPDATE/SATURDAY//GLOBE

US Reports Near-Record Jump In COVID Cases; India Tops 10MM: Live Updates

 
SATURDAY, DEC 19, 2020 – 11:30

Summary:

  • US sees near record jump in cases
  • Record deaths seen in west, south
  • India tops 10MM  cases
  • Germany buys 30MM doses
  • Poland announces lockdown measures
  • Tokyo reports second-highest number of new cases

* * *

The number of new COVID cases reported Friday in the US was just shy of the record highs reported earlier this month, with 228,825 reported in the US, while the number of currently hospitalized patients climbed to 114.8K, a new national record.

At 2.75K, deaths were just below a recent daily record.

Daily deaths in the south and west saw new record highs on Friday, while they pulled back everywhere else.

The west, particularly AZ and NV, are seeing hospitalization rates at unprecedented highs.

In other news, UK Prime Minister Boris Johnson is expected to announce even stricter restrictions on London and southeast England

Last night, Moderna’s coronavirus vaccine became the second to receive emergency use authorization from the US FDA. The announcement by the FDA comes a week after the FDA authorized a vaccine from Pfizer and German partner BioNTech.

On the vaccine front, Switzerland (famously not an EU member) approved the leading Pfizer-BioNTech jab, while the Oxford-AstraZeneca version is expected to be approved for use in the UK by the end of the year, according to a report in the Telegraph. The vaccine is the first to be approved for use in the country, which has previously signed contracts with the companies for the delivery of 3MM vaccine doses. “Deliveries will start in 2020 and occur throughout 2021,” BioNTech said in a statement.

Meanwhile, Germany bought 30MM additional doses of the vaccine, citing sources at the German Ministry of Health. That allocation will bolster the 55.8MM doses that it will receive through a EU plan, with a further 50.5MM doses of the Moderna due from the EU. Collectively, this will allow Germany will be able to achieve herd immunity in 2021, the Federal Ministry of Health told the paper.

Here’s some more COVID news from overnight and Saturday morning:

Poland, which announced tough new lockdown measures for the holiday season, reported 11.3K new coronavirus cases on Saturday, compared with 11K on Friday. The Health Ministry said the death toll increased by 483, the most in three days.

Tokyo on Saturday reported 736 new cases of coronavirus infections, the second highest after Thursday’s record of 822, a day after the metropolitan government raised its warning on the city’s medical system to the highest level. The number of seriously ill patients was 62, down from 66 a day before.

* * *

Finally, India’s coronavirus tally has surpassed 10MM, although the number of new daily cases has fallen sharply since its mid-September peak. Health officials reported 25.15K new infections and 347 deaths in the past 24 hours, according to the health ministry. So far, 145.1K people have died of the virus in the country.

END

CORONAVIRUS UPDATE //MONDAY

US COVID Hospitalizations Retreat; Mutations Stokes Fears About Vaccine-Resistant Virus: Live Updates

 

Summary:

  • Europe shuts doors to UK
  • Mutation announced last week stokes fears worldwide
  • US hospitalizations decline, led by Midwest
  • Sweden imposes travel ban
  • Ireland warns extension likely
  • Colombia capital lifts some retrictions
  • Tokyo mayor urges residents to stay home
  • Canada suspends flights to UK
  • Jakarta extends restrictions for another week
  • Clinical trials for Moderna vaccine in Japan will start in January

* * *

First revealed last week by Health Secretary Matt Hancock, a mutated version of the coronavirus discovered in parts of the UK, South Africa and other locations has prompted a swath of countries to block travelers and commerce coming from the UK. Some are warning that there’s still not enough data on the variation (which some scientists claim is 70% more infectious than the original) for the public to start panicking about whether this might impact the efficacy of the first wave of vaccines.

According to the latest data from the COVID Tracking Project, the number of new cases tumbled back below 200K on Sunday, though the 7-day average was 211,387. Deaths were reported at 1,618, while the 7-day average was 2,613.

One reason the march higher in hospitalizations has stalled is due to the Midwest, which, thanks in part to the efforts of local officials, hospitalizations have started to fall from their peaks. Meanwhile, the three other regions are seeing deaths rates climbing to new records or – in the case of the northeast – the highest level since the spring.

While most states have reported record tallies in the past few weeks, the pace has slowed over the past week.

Switzerland was one of the first European countries to bar Britons from traveling to the country, while Ireland is already saying that it might expand its 48-hour ban. Sweden, meanwhile, said Monday morning that it would ban all non-Swedish people from entering Sweden from the UK. Additionally, at least five countries and airlines, including Germany and Turkey, are said to have banned flights from South Africa on Monday

As markets panic, some scientists are warning that these mutations raise new questions about the vaccines and their ability to protect people, while others are cautioning that it’s likely these mutations won’t have any impact on the vaccines and their ability to protect people. The WHO warned it could take days or more than a week to find out what impact this might have on vaccines, according to Soumya Swaminathan. “As we start using drugs and vaccines, viruses evolve to try to avoid those,” Swaminathan said in an interview with Bloomberg TV. “At this point in time, I don’t think we have any evidence to suggest that the vaccines under development will not work for the majority of patients.”

Saudi Arabia halted international flights and closed its borders for one week over fears about the fast-spreading new strain of the coronavirus. And the kingdom may extend the suspension for another week depending on the nature of the virus spread, according to state-run Saudi Press Agency.

While Europe imposes new travel restrictions reminiscent of the springtime lockdowns, the head of the Warp Speed Operation Moncef Slaoui said he hopes the US will reach the threshold for herd immunity in “May or June”.

Here’s some more COVID news from overnight and Monday morning:

  • Seoul Metropolitan Government and its neighboring Gyeonggi and Incheon provinces will ban holiday gatherings of five or more people from Dec. 23 to Jan. 3. The restrictions would apply to about half of the country’s 51 million people. Weddings and funerals aren’t included in the new rules.
  • Indonesia’s capital has extended its virus restrictions by another two weeks as cases continue to rise and to prevent any further spikes from the holiday season.
  • Prime Minister Justin Trudeau’s government suspended flights between Canada and the U.K. for 72 hours effective midnight Sunday due to “the high number of cases of a variant Covid-19 virus observed in some areas in the United Kingdom.”
  • Tokyo Gov. Yuriko Koike urges the capital’s 14 million residents to stay home during the upcoming holiday season to prevent further spread of infections. “I would like people to prioritize life above everything else during the year-end and New Year,” Koike said at a news conference. “I do hope families will stay home during the holiday season.”
  • Colombia’s capital Bogota will return to partial mobility restrictions where citizens are only allowed to buy staples, go to restaurants, shopping malls, among other spots, depending on the last digit of their ID, Mayor Claudia López said in a video posted on Twitter. The new measures will take place from Monday.
  • U.S. congressional leaders say they have reached an agreement on a $900 billion package to provide the
  • first new aid in months to an economy hammered by the pandemic, with votes likely on Monday.
  • China records 23 new cases for Sunday, unchanged from a day earlier. Of the new cases, 21 were imported. The two local transmissions were in the northeastern provinces of Liaoning and Heilongjiang.
  • Clinical trials of Moderna’s COVID-19 vaccine in Japan will start “as early as in January,” a Takeda Pharmaceutical executive says.

Finally, Slaoui said 8 million doses of the new coronavirus vaccines from Moderna and Pfizer are expected to be shipped on Monday. In other news, South Australia imposed a 14-day quarantine on arrivals to Sydney on Sunday and banned travelers from affected suburbs as a coronavirus cluster in the city grew to around 70, while fears of a mutated strain intensify.

While there’s no evidence showing that the mutated strain is more resistant to the vaccine, the central assumption now is “that all of next year’s forecasts and views could actually turn out wrong,” said Christoph Rieger, head of fixed-rate strategy at Commerzbank AG. “That is quite a scary thought indeed.”

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

Euro/USA 1.2164 DOWN .0075 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /RED

USA/JAPAN YEN 103.56 DOWN 0.406 (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 1.3281   DOWN   0.02132  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2889 UP .01196 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  MONDAY morning in Europe, the Euro FELL BY 75 basis points, trading now ABOVE the important 1.08 level FALLING to 1.2164 Last night Shanghai COMPOSITE CLOSED UP 25.67 PTS OR .76% 

//Hang Sang CLOSED DOWN 191.92 POINTS OR .72% 

/AUSTRALIA CLOSED DOWN 0,06%// EUROPEAN BOURSES ALL RED

Trading from Europe and Asia

EUROPEAN BOURSES ALL RED

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 191.92 POINTS OR .72% 

/SHANGHAI CLOSED UP 25.67 PTS OR .76% 

Australia BOURSE CLOSED DOWN 0.06% 

Nikkei (Japan) CLOSED DOWN 48.77  POINTS OR 0.18%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1877.70

silver:$26.07-

Early MONDAY morning USA 10 year bond yield: 0.904% !!! DOWN 4 IN POINTS from FRIDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.642 DOWN 5  IN BASIS POINTS from FRIDAY night.

USA dollar index early MONDAY morning: 90.61 UP 60 CENT(S) from  FRIDAY’s close.

This ends early morning numbers MONDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  MONDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.04% UP 6 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.01.%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.06%//UP 4 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.58 UP 1 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 52 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.58% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.16% 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 MONDAY

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

Euro/USA 1.2233  DOWN     .0007 or 7 basis points

USA/Japan: 103.42 UP .227 OR YEN DOWN 23  basis points/

Great Britain/USA 1.3355 DOWN .0139 POUND DOWN 139  BASIS POINTS)

Canadian dollar DOWN 65 basis points to 1.2836

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,CNY: closed DOWN 6.5497    ON SHORE  (DOWN)..

THE USA/YUAN OFFSHORE:  6.5338  (YUAN DOWN)..

TURKISH LIRA:  7.64  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.01%

Your closing 10 yr US bond yield DOWN 2 IN basis points from FRIDAY at 0.928 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.673 DOWN 2 in basis points on the day

Your closing USA dollar index, 90.25 UP 23  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 MONDAY: 12:00 PM

London: CLOSED DOWN 112.86  1.73%

German Dax :  CLOSED DOWN 384.21 POINTS OR 2.82%

Paris Cac CLOSED DOWN 134.50 POINTS 2.43%

Spain IBEX CLOSED DOWN 247.60 POINTS or 3.08%

Italian MIB: CLOSED DOWN 565.64 POINTS OR 2.54%

WTI Oil price; 46.91 12:00  PM  EST

Brent Oil: 50.09 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    74.94  THE CROSS HIGHER BY 1.51 RUBLES/DOLLAR (RUBLE LOWER BY 151 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.58 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 :  47.74//

BRENT :  50.67

USA 10 YR BOND YIELD: … 0.936..down  1 basis points…

USA 30 YR BOND YIELD: 1.3453 down 2 basis points..

EURO/USA 1.2236 ( DOWN 4   BASIS POINTS)

USA/JAPANESE YEN:103.37 UP .143 (YEN DOWN 14 BASIS POINTS/..

USA DOLLAR INDEX: 90.10 UP 8 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3453 down 41  POINTS

the Turkish lira close: 7.65

the Russian rouble 74.78   DOWN 1.37 Roubles against the uSA dollar. (DOWN 137 BASIS POINTS)

Canadian dollar:  1.2848 DOWN 78 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.57%

The Dow closed UP 37.40 POINTS OR 0.12%

NASDAQ closed DOWN 13.49 POINTS OR 0.10%


VOLATILITY INDEX:  25.15 CLOSED UP 3.58

LIBOR 3 MONTH DURATION: 0.235%//libor dropping like a stone

USA trading today in Graph Form

Stocks Dump’n’Pump As Bank Buybacks & Bailouts ‘Crush’ COVID Mutation Concerns

 
 
MONDAY, DEC 21, 2020 – 16:01

Well that de-escalated quickly…

Futures were pummeled overnight as news of EU lockdowns and travel restrictions grew louder as UK reported a mutant variant of the COVID virus.

But then, as the cash open began, and details of the COVID Relief Bill began to emerge, stocks started to recover and then at 0905ET TSYSec Mnuchin appeared on CNBC, said nothing new at all, but saved the world, triggering RH algos into a buying panic.

Small Caps were the most insane movers on the day, but the Dow outperformed. Nasdaq and the S&P weren’t able to get green on the day and into the last 30 mins, things started to go just a little bit turbo…

The Dow fell 1000 points from overnight highs only to rally back around 800 points before fading into the close…

The Dow was helped by a rip in the big banks (GS and JPM added over 150 points to the index alone), as The Fed allowed banks to buyback their shares again after the Stress Test…

Source: Bloomberg

Financials led the day as energy lagged…

Source: Bloomberg

After the utter chaos of Friday’s last few minutes, TSLA tanked in the pre-market only to be instantly bid back to unch before fading back again and then accelerating lower on headlines about AAPL moving into cars in 2024…

But TSLA vol collapsed…

Source: Bloomberg

VIX also rocketed higher only to collapse…

Treasury yields joined the rollercoaster party. 30Y yields were down over 7bps at their best around 0600ET before ripping back higher…

Source: Bloomberg

The dollar screamed higher overnight only to reverse on a dime at around 0530ET and plunge back to unchish…

Source: Bloomberg

The pound plunged early on (on COVID malarkey) and then exploded back higher on healdines that BoJo would offer some compromise on ‘fish’…

Source: Bloomberg

Bitcoin took a decent tumble overnight (testing below $22k briefly) but rebounded as the day wore on…

Source: Bloomberg

Gold was up overnight (back above $1900) but suffered a similar liquidation plunge around 0500ET before bouncing back, but ended lower…

Silver held on to its gains…

But oil prices were unable to ramp back into the green after rebounding from the overnight carnage…

And Copper was clubbed like a baby seal…

Finally, today’s chaotic moves took some more shine off the greed-is-good crowd, despite the rebound…

Source: Bloomberg

a)Market trading/LAST NIGHT/USA

 
 

b)MARKET TRADING/USA//Non farm payrolls

 
 

ii)Market data/USA

The deal!

$15BN For Airlines, Corporate Meal Tax Breaks And Other Pork: What’s Inside The $900BN Stimulus Bill

 
MONDAY, DEC 21, 2020 – 7:12

With the latest, $900 billion covid-stimulus deal now done (which unless the Democrats win the Georgia Senate runoffs in 2 weeks will be the final covid stimulus bill according to Goldman), attention turns to what’s actually in it.

First: the good news – the bill will include a fresh round of benefits for small businesses as well as the usual one-time pittance for peasants, amounting to a $600 check. Here are the key components:

  • Direct payments of $600 to most Americans ($600 per adult and $600 per child); the amounts decrease for individuals with more than $75,000 in income and $150,000 for couples.
  • $300-per-week in enhanced unemployment benefits through March. Expiring programs for gig workers and the long-term unemployed also would continue.
  • $284 billion for the Paycheck Protection Program that provides grants forgivable loans to small businesses, arguably the most successful and also most abused program of the CARES act. This represents the bulk of the $325 billion the bill puts toward small businesses
  • $82 billion for education: includes $54.3 billion for K-12 schools and $22.7 billion for colleges; governors would get $4.05 billion to spend on education aid at their discretion. For-profit colleges would get $908 million for grants to students, and another $1.7 billion would be set aside for historically black colleges, tribal colleges, minority-serving institutions
  • $10 billion for child care.
  • 15 billion in grants for theater operators and owners of small performance venues.
  • $25 billion in rental assistance and an extension of the moratorium on evictions
  • $13 billion in funds for food-stamp and child-nutrition benefits.
  • $30 billion for the procurement and distribution of a Covid vaccine, as well as testing and tracing.
  • $1.8 billion in tax credits for businesses to provide paid leave.

Of course as with any fiscal stimulus that is nearly $1 trillion, there will be lots of pork and other shady components, thrown into the bill. One such questionable kicker is the $15 billion in payroll assistance to airlines that will in theory allow them to return more than 32,000 furloughed workers to their payrolls through March 31, according Reuters. In reality, since there is no enforcement clause, we wouldn’t be surprised if many of the airlines continue to quietly layoff employees and use the funds to repurchase stock.  

U.S. airlines furloughed more than 32,000 workers in October, after a six-month $25 billion bailout measure expired on Sept. 30. According to Reuters, airline workers would be paid retroactive to Dec. 1 and airlines would have to resume flying some routes they stopped after the aid package expired, congressional aides briefed on the talks said earlier. While airline workers could not be furloughed through March 31 as a condition of the assistance, airline lawyers will find countless loopholes around this contingency in the next 24 hours.

Unfortunately, even if it is used as intended, it won’t last airlines even 3 months at current cash burn rates: US carriers are losing $180 million in cash daily, with passenger volumes down 65% to 70% and cancellations rising, industry lobby Airlines for America said.

The new assistance program is expected to mirror the $25 billion program approved by Congress in March, which required larger airlines to repay 30% of the payroll grants over time and offer the government warrants. It is also expected to include minimum flight requirements. The aviation assistance comes after five months of furious lobbying – first by aviation unions and later by airline executives – who argued the industry (which repurchased over $50 billion of its own stock in recent years) desperately needed new government help as travel demand remains devastated by the COVID-19 pandemic.

The $45 billion COVID-19 transportation package is also set to include $1.75 billion for airports and $200 million for airport concessionaires and $2 billion for the private motorcoach, school bus and ferry industries. Aside from airlines, the stimulus will include $1 billion to the Amtrak railroad, $14 billion for public transit systems and $10 billion for state highways.  It is also expected to include significant changes to how the Federal Aviation Administration certifies new airplanes following two fatal Boeing Co 737 MAX crashes that killed 346 people.

In addition to a $15 billion airlines rescue bridge line, the draft language of the emergency coronavirus relief package includes a tax break for corporate meal expenses. President Trump has talked about securing the deduction – derisively referred to as the “three-martini lunch” by critics –  as a way to revive the restaurant industry badly battered by the pandemic; Treasury Secretary Steven Mnuchin included the meal deduction as a White House priority in negotiations. But critics said it would do little to help struggling restaurants and would largely benefit business executives who do not urgently need help at this time.

While Democrats opposed the proposal, during negotiations Democratic leaders agreed to the provision in exchange for Republicans agreeing to expand tax credits for low income families and the working poor in the final package.

Since the 1980s, businesses have only been able to deduct 50% of their meal expenses off their federal taxes. A proposal championed by the White House and Sen. Tim Scott (R-S.C.) would increase that deduction to 100% allowing companies to deduct the full cost of a business meal off their federal taxes.

The cost to taxpayers of the proposal is not known, though tax experts expect it to not exceed a few billion dollars a year.

We will update this list as we learn more.

end

Retail bankruptcies in 2020 hit the highest levels in more than a decade, and experts say there are more to come

Dec. 21, 2020 at 9:09 a.m. ET

MarketWatch

 

There were dozens of retail bankruptcies in 2020, and experts say the pain isn’t over yet.

S&P Global Market Intelligence tallied 49 bankruptcies in the retail space as of mid-November, including Ann Taylor parent Ascena Retail Group Inc. ASNAQ, -9.35%, luxury department store Neiman Marcus, home goods specialists Sur La Table Inc. and Brooks Brothers Group Inc.

That’s the largest number of bankruptcies since 2009, during the financial crisis.

COVID-19 was the straw that broke many ailing retailers. Companies that were already struggling to keep up with trends, invest in necessary digital upgrades and shift to modern customer experiences simply couldn’t cope with the added pressure of store closures, a massive shift to e-commerce, safety protocols and other side effects of the coronavirus.

“The pandemic has accelerated what was going to happen in a number of years in a shorter period of time,” said Mickey Chadha, Moody’s vice president. “The names that have filed for bankruptcy probably were pulled forward.”

In addition to stores closing due to bankruptcy and restructuring, many retailers have been using the pandemic period to reconsider their fleet of stores. Gap Inc. GPS, -2.62% and Children’s Place Inc. PLCE, -4.66% are just two of the retailers that have talked of “rightsizing” their store fleets.

Coresight Research counted 8,401 store closures year- to-date in a Dec. 4 report.

With vaccine distribution ramping up and 2021 around the corner, a retail recovery isn’t going to happen like the flip of a switch. Instead, experts and analysts say there are more retail bankruptcies looming before things get better.

“There are still a lot of names that are in distress and weak in retail and apparel,” said Chadha. “The pandemic will accelerate the trends making the weak weaker and the strong stronger.”

On a positive note, the bankruptcy process is intended to give businesses that need it a second chance.

“In a general sense there might be a stigma about a bankruptcy. We view the bankruptcy process as a tool to help companies restructure their business and balance sheets,” said Dan Guyder, partner at international law firm Allen & Overy.

“And it’s a positive for investors to help a company move back to growth. There might be some broken glass along the way, but that’s the cycle of life for some companies.”

In recent weeks, J.C. Penney Co. Inc. JCPNQ, +5.56%, for example, has emerged from bankruptcy and has a number of plans to grow the business, including a new women’s brand and a beauty strategy.

Consumers need to recover as well

It’s not just retailers that have to recover from the coronavirus-induced economic slump. Shoppers do as well. With government protections against foreclosure and eviction expiring and with the additional government stimulus measures still very uncertain, consumers now have to rethink personal budgets and perhaps tighten up spending habits.

This could throw even the best-laid retailer plans into disarray.

And: Americans are draining their checking accounts as stimulus talks drag on

“There’s more pressure on consumers to redirect available cash to meet those obligations,” said Guyder.

Under normal circumstances, the retail industry is a very organized one, which makes the uncertainty brought on by the pandemic –- and a bankruptcy — perhaps more difficult for retailers to manage.

“Retail is a business of seasonality, depending on categories and time of year, you see growth or margin deterioration,” said Matt Katz, managing partner at global advisory SSA & Co. “Bankruptcy doesn’t have a season.”

Taking into account that consumers are going to need time to recover as well is something that retailers have to consider.

“People are going to have to replenish savings and nest eggs. They’ll probably owe money to landlords and other obligations,” said Katz. “[T]here’s some catch-up they’re going to have to do to put their finances back in place. That’ll taking some time. We’re building that thought process into client plans.”

Keeping balance sheets in check will be key in 2021

To be sure, some retail categories thrived during the pandemic, including essential retailers like Walmart Inc. WMT, -0.13% and Target Corp. TGT, -0.58% (shares up 22.8% and 33%, respectively), warehouse retailers like Costco Wholesale Corp. COST, -0.49% and BJ’s Wholesale Club Holdings Inc. BJ, -0.98% (shares up nearly 25% and 68.5%, respectively) and home goods retailers including Wayfair Inc. W, 0.47% and At Home Group Inc. HOME, -2.78% (up 206.2% and 188%, respectively).

The Amplify Online Retail ETF IBUY, -1.70% has skyrocketed 126.1% for the year to date and the SPDR S&P Retail ETF XRT, -1.80% is up 37.1% for the period. Both have far outpaced the benchmark S&P 500 index SPX, -1.18%, which has gained 14.8%.

And experts see improvement coming in 2021, particularly for those categories that took a big hit in 2020.

Moody’s is forecasting 516% year-over-year operating profit growth at department stores next year, reaching $1.2 billion; a 489% operating profit boost at off-price retailers, to $4.9 billion; and a 114% increase in operating profit growth at apparel and footwear retailers, to $3.2 billion.

But November retail numbers demonstrate that that path to recovery won’t be a smooth. Despite the holiday shopping season, sales fell 1.1% and October sales were revised down.

“For the retailers that have excelled during the COVID-19 pandemic,” wrote Bank of America analysts led by Elizabeth Suzuki, “the comparisons in 2021 get particularly tough in the middle of the year. The relatively disadvantaged retailers (non-essential and away-from-home categories) will have easier year-over-year comparisons in 2021 and could experience outsized growth relative to the 2020 winners.”

It will be critical for retailers to keep their balance sheets in check going forward.

“A lot of names that are weak in the space are private-equity owned,” said Moody’s Chadha. “The leverage of these names is high. The only way to avoid some sort of distress exchange or bankruptcy will be to improve profitability, which will be difficult.”

The other option is to cut debt, which will require cash. Either way, these companies need to “right their balance sheet to be sustainable,” Chadha said.

If a company needs to take on more debt, Greg Portell, head of global consumer industries and retail at global management consulting firm Kearney, says “intentionality of the debt” is significant.

“If you’re going to put debt on your balance sheet, you want to make sure it’s driving expansion and growth,” he said. “Many that filed for bankruptcy had debt that was financing mechanism not growth.”

Portell thinks disappointing earnings from the holidays will drive more bankruptcy filings.

“We will see another wave in the first and second quarter based on the fallout from the holiday season,” he said. “Consumer spending is strong and doing its part, but not everyone is going to win.”

Don’t miss: ‘No one likes to admit they’re struggling’: Americans are feeling guilty this Christmas about their finances. Here’s why

And while many are waiting for things to get “back to normal,” it may be more accurate to look towards a “new normal.”

“Looking ahead, retailers are hoping that the vaccine rollout will return some ‘normality’ to our lives heading into 2021, allowing retailers to recoup their losses from 2020,” said Marwan Forzley, chief executive of Veem, a payments platform that works with thousands of U.S. retailers.

“However, while brick-and-mortar stores may regain some of their popularity as things start to look more ‘normal’ again, the pandemic has certainly altered the way we shop forever and e-commerce will still be an essential revenue stream for retailers, regardless of their size.”

end

iii) Important USA Economic Stories

Vote on a $900 billion stimulus pkg is set for late Sunday or early Monday

(zerohedge)

Vote On $900BN Stimulus Package Imminent After Senators Reach Deal On Fed Powers

 
 
SUNDAY, DEC 20, 2020 – 9:18

Late on Saturday night, Senate Minority Leader Charles Schumer (D-N.Y.) and Sen. Pat Toomey (R-Pa.) reached an agreement on language to curtail the Federal Reserve’s special lending authorities, clearing the last major hurdle on a $900 billion coronavirus-relief package.

The deal had been held up over a dispute over the Fed’s emergency lending facilities, such as its unilateral ability (with Treasury permission) to buy corporate bonds and ETFs in the open market, but at around 9 p.m. on Saturday, Republicans told Schumer that they would accept a compromise deal which would allow the Fed to retain its ability to set up emergency lending programs without congressional approval. But the Fed wouldn’t be able to replicate programs identical to the ones it started in March at the beginning of the pandemic without the approval of Congress; in short if the Fed is to restart any of the 4 emergency 13(3) programs and lending programs that are set to expire on Dec 31 (shown in red below), it will have to get Congressional approval. These four programs are the market corporate credit facility, the secondary market corporate credit facility, the Main Street lending program and the municipal credit facility.

The Fed will retain more flexibility over restarting the Term Asset-Backed Securities Loan Facility (TALF), which will be closed but can be restarted in the future. It’s worth noting that most of the expiring programs have seen little usage in recent months…

… and even the Fed’s corporate bond buying program (the SMCCF) has barely seen any action after July.

Toomey agreed to a narrower approach on dealing with potential “copycat” lending facilities. Negotiators agreed to specific language instead of merely an agreement in principle.  A senior Democratic aide said that Toomey “has agreed to drop the broad language in his proposal that would have prevented the Fed Chair from establishing similar facilities in the future to the ones created in March.”

“Compromise language is being finalized and, now that this obstacle has been cleared, a final agreement on an emergency relief package is significantly closer,” the Democratic aide said.

The compromise will sweep out the $429 billion in unspent CARES Act funding for the Federal Reserve’s credit lending facilities and repurpose it as an offset for a new $900 billion coronavirus relief bill, GOP sources said. In November, Treasury Secretary Steve Mnuchin already said he would return the $429 billion in unspent CARES money to the general fund. Toomey, however, questioned that claim on Thursday.

I’m not certain the secretary has committed to putting this in a general funds category,” he told reporters earlier in the week. “I’m not sure I interpret his comments the way you do. And there’s also the fact there are other funds in the [Exchange Stabilization Fund] account. In any case, by having the language that we have it precludes the possibility of restarting these programs from any source.”

The last minute compromise sets the stage for a vote on a Covid stimulus bill as soon as today.

With the dispute over the Fed provision resolved, a final agreement on the full coronavirus relief package was significantly closer, a senior Democratic aide told the WSJ late Saturday. Similarly, a senior House Democratic aide told The Hill that the Toomey deal sets the stage to iron out all the other less significant differences that had stalled the negotiations for weeks. “We expect remaining open items to fall into place overnight,” the aide said.

Top Senate Democrat, Chuck Schumer, told reporters he thought both the House and Senate would be able to vote Sunday on the relief bill, which is expected to be combined with a spending bill needed to avoid a partial government shutdown. The government’s current funding expires at 12:01 a.m. Monday.

“It looks like we’ll be able to. If things continue on this path and nothing gets in the way, we’ll be able to vote [Sunday],” Mr. Schumer said late Saturday night.

The republicans agreed: a spokesman for Senate Majority Leader Mitch McConnell said early Sunday that now that the Fed dispute had been resolved, “we can begin closing out the rest of the package to deliver much-needed relief to families, workers, and businesses.”

Negotiations accelerated this week after congressional leaders agreed to drop two provisions: funding for hard-hit state and local governments, which Democrats and some Republicans had sought, as well as liability protections for businesses and other entities operating during the pandemica top GOP priority.

The stimulus package under discussion is expected to include $300 a week in enhanced unemployment benefits, a second round of stimulus checks and funding for schools, health-care providers, vaccine distribution and small businesses. Specifically, the package will include direct stimulus checks between $600 and $700, according to a commitment GOP leaders made to Sen. Josh Hawley (R-Mo.) on Friday. Sen. Bernie Sanders (I-Vt.) worked with Hawley to include the stimulus checks.

According to the WSJ, lawmakers were working out differences Saturday surrounding the distribution and eligibility requirements of the roughly $600 direct checks expected to be included in the final bill, the duration and limits around a temporary increase in food-stamp benefits, and how to structure a relief program for live-performance venues and other industries seeking aid.

President Trump urged lawmakers to finish work on the relief package. “GET IT DONE, and give them more money in direct payments,” Trump Twitted early Sunday morning.

Momentum had slowed on Friday and Saturday after Democrats objected to a push from Toomey to insert a measure that would restrict the Fed’s ability to establish the types of emergency lending programs that it authorized in March to curb an emerging financial panic. That step would go beyond an earlier proposal to revoke $429 billion provided to the Treasury Department to backstop losses in the Fed lending programs. Treasury Secretary Steven Mnuchin last month declined to allow the programs to continue after Dec. 31, saying he didn’t think it was legally allowed. A nonpartisan congressional research arm disputed that interpretation on Thursday.

Saturday’s negotiation caps more than seven months of fruitless talks between Democrats, the White House and Senate Republicans over the size and scope of a new coronavirus relief bill. Speaker Nancy Pelosi and House Democrats proposed the $3.4 trillion Heroes Act in May and then amended their request to a $2.2. trillion relief bill in September. They ultimately settled on less than $1 trillion after extensive delays cost countless middle-class Americans their small and medium businesses..

A spokesman for Toomey hailed the deal as “an unqualified victory for taxpayers.”

“This agreement rescinds more than $429 billion in unused CARES Act funds; definitively ends the CARES Act lending facilities by December 31, 2020; stops these facilities from being restarted; and forbids them from being duplicated without congressional approval,” said Steve Kelly, Toomey’s communications director.

“This agreement will preserve Fed independence and prevent Democrats from hijacking these programs for political and social policy purposes,” he added. The GOP was worried that progressives next year might use Section 13(3) authority of the Federal Reserve Act to achieve their goals for addressing climate change or shoring up state and local budget shortfalls.The compromise deal clarifies ambiguity about whether the lending facilities will be ended by Dec. 31.

The stimulus vote, which will likely come in the next few hours, will avoid the need for Congress to adopt another short-term funding extension to prevent a government shutdown. “If things continue on this path and nothing gets in the way, we’ll be able to vote tomorrow,” Schumer said.

The vote will be a combination of a coronavirus relief package and an omnibus spending bill. The Senate would vote later Sunday before government funding expires at midnight, but Senate Majority Leader Mitch McConnell will need to get consent from all 99 of his colleagues to waive procedural hurdles. The legislation is also expected to include a package of extensions of expiring tax provisions.

end

Trump campaign now files a 267 page motion to the USA Supreme Court bundling 3 other Pennsylvania cases before the court.  If the Supreme Court does not take up the case, then Trump will use the Insurrection Act and the Sept executive order to take control.

(zerohedge)

Trump Campaign Files 267-Page Motion At US Supreme Court Challenging Pennsylvania Rulings

 
SUNDAY, DEC 20, 2020 – 19:30

The Trump campaign on Sunday filed an emergency request at the US Supreme Court aimed at overturning three Pennsylvania Supreme Court cases which “illegally changed Pennsylvania’s mail balloting law immediately before and after the 2020 presidential election.

The 267-page writ of certiorari asks the court to put the trio of Pennsylvania decisions on an ultra-expedited timeline in an attempt to produce a ruling before Congress meets Jan. 6 to count electoral votes.

According to The National Pulse:

The filing alleges the action was “in violation of Article II of the United States Constitution and Bush v. Gore,” and “represents the Campaign’s first independent U.S. Supreme Court filing and seeks relief based on the same Constitutional arguments successfully raised in Bush v. Gore,” according to the campaign’s press release.

“This petition follows a related Pennsylvania case where Justice Alito and two other justices observed ‘the constitutionality of the [Pennsylvania] Supreme Court’s decision [extending the statutory deadline for receipt of mail ballots from 8 pm on election day to 5 pm three days later] … has national importance, and there is a strong likelihood that the State Supreme Court decision violates the Federal Constitution,” the press release, authored by Rudy Giuliani notes.

More from the filing:

“The Campaign’s petition seeks to reverse three decisions which eviscerated the Pennsylvania Legislature’s protections against mail ballot fraud, including (a) prohibiting election officials checking whether signatures on mail ballots are genuine during canvassing on Election Day, (b) eliminating the right of campaigns to challenge mail ballots during canvassing for forged signatures and other irregularities, (c) holding that the rights of campaigns to observe the canvassing of mail ballots only meant that they only were allowed to be ‘in the room’ – in this case, the Philadelphia Convention Center – the size of several football fields, and (d) eliminating the statutory requirements that voters properly sign, address, and date mail ballots. The petition seeks all appropriate remedies, including vacating the appointment of electors committed to Joseph Biden and allowing the Pennsylvania General Assembly to select their replacements. The Campaign also moved for expedited consideration, asking the Supreme Court to order responses by December 23 and a reply by December 24 to allow the U.S. Supreme Court to rule before Congress meets on January 6 to consider the votes of the electoral college.”

end

A must read…USA unemployment is skyrocketing coupled with a huge increase in both M2 and M1. Hyperinflation is coming real soon to the uSA

(Michael Snyder)

 

Waiting For The Other Shoe To Drop…

 
FRIDAY, DEC 18, 2020 – 16:20

Authored by Michael Snyder via The Economic Collapse blog,

Do you feel like another major crisis could erupt at any moment?  If so, you are certainly not alone.  Here in 2020, it has just been one thing after another, and we have come to expect the unexpected.  Right now, so many people that I am hearing from are anticipating that more big trouble is just around the corner, but as we wait for “the other shoe to drop”, economic conditions all over the United States continue to rapidly deteriorate. 

For example, on Thursday we learned that the number of initial claims for unemployment benefits last week was the highest in four months

The US job market continues to suffer, and Thursday brought more bad news. Another 885,000 people filed for first-time unemployment benefits last week — an increase from the week prior and higher than the 800,000 claims that economists were expecting.

The latest figures, which are adjusted for seasonal factors and reported by the Labor Department, are particularly grim since last week’s numbers were revised up to 862,000. And even before the revision, that week had been the highest level since mid-September.

This isn’t how the numbers were supposed to be trending.

For four of the past five weeks we have seen the number of new unemployment claims go up, and experts are warning that we should expect things to get even worse as we head into winter

‘US weekly jobless claims continue to head in the wrong direction,” Edward Moya, an analyst at the currency trading firm OANDA, wrote in a research note.

‘The labor market outlook is bleak as the winter wave of the virus is going to lead to more shutdowns.”

Could we soon see more than a million Americans filing new claims for unemployment each week like we did earlier in the pandemic?

To put this in perspective, the previous all-time record prior to 2020 was just 695,000, and that old record was set all the way back in 1982.

We absolutely shattered that record once COVID-19 started spreading widely in the United States, and we have been above that old record every single week throughout this entire pandemic.

Just think about that.

We are seeing numbers that we have never seen before in all of U.S. history every single week, and now they are starting to climb higher once again thanks to the new lockdowns.

In addition, the number of Americans that are collecting unemployment aid from two major federal programs is also on the rise again

The number of jobless people who are collecting aid from one of the two federal extended-benefit programs – the Pandemic Unemployment Assistance program, which offers coverage to gig workers and others who don´t qualify for traditional benefits – surged to 9.2 million from 8.6 million for the week that ended Nov. 28.

But the number of people receiving aid under the second program – the Pandemic Emergency Unemployment Compensation program, which provides 13 weeks of federal benefits to people who have exhausted their state aid – also rose from 4.5 million to 4.8 million.

By now, the “recovery” was supposed to be in full gear, but instead major companies keep laying off more workers at an astounding pace.

For example, on Thursday we learned that Coca-Cola will be eliminating 12 percent of their entire U.S. workforce…

Coca-Cola is planning to cut 2,200 jobs, including 1,200 in the United States, as it faces declining sales during the pandemic.

In the United States, where there were about 10,400 employees at the end of last year, the cuts represent roughly 12% of the workforce. In Atlanta, where the company is headquartered, about 500 jobs are being eliminated, the company said Thursday.

Coca-Cola wouldn’t be doing this if the U.S. economy was about “to turn a corner”.

All of these big corporations that are letting workers go can see what is about to happen, and they are slimming their payrolls in an attempt to make it through the coming storm.

Meanwhile, Congress is getting close to approving yet another “stimulus package”, and the Federal Reserve is promising to do whatever it takes to support the financial markets.

Trillions upon trillions of dollars are being slammed into the system, and as a result M2 is up more than 60 percent so far this year.

In other words, our money supply has been increasing at an almost vertical rate in 2020.

Back in November I included a chart in an article that I wrote which shows exactly what I am talking about.  If you are not one of my regular readers, you can find that article right here.

For many years, many of us have been warning that hyperinflation would arrive someday.

But now we can stop warning, because the process has actually started.

Other industrialized nations have also been flooding their systems with new money, and this is really starting to drive up food prices all over the globe.  The following comes from Zero Hedge

The reason this has suddenly become a hot topic is because while overall inflation remains subdued (we will spare a discussion here of why the CPI is purposefully distorted to stay as low as possible – readers can catch up herehere and here), food inflation has been on a tear in recent months. In fact, it has gotten so high that earlier this week Goldman published a report looking at “The Recent Spike In Food Inflation”, in which it noted that “in recent months, inflation has risen and surprised to the upside across a number of major EM economies (e.g. Turkey, South Africa, India, Brazil and Russia).” According to Goldman, one of the main drivers of these increases has been higher food inflation, which has coincided with a sharp increase in the price of some key agricultural commodities (e.g. grains, oils and soybeans).”

Sadly, this is just the beginning.  Eventually, the food riots which have already started on the other side of the planet will start happening in the western world too.

And as hungry people become increasingly desperate, I believe that eventually companies will start putting armed guards on food trucks.

We aren’t quite there yet, thankfully, but things are really starting to get crazy out there.

A few days ago I went to the supermarket again, and I really tried to economize and get things that were on sale, but I still spent more than 260 dollars on one cart of food.

Just one cart!

As the cost of living continues to soar into the stratosphere, many American families are going to discover that they are no longer able to afford enough food for the week.

And once millions upon millions of Americans get desperately hungry, that is when we will see absolutely insane economic riots in this country.

All of these things are coming, and we definitely will not have to wait very long at all for “the other shoe to drop”.

*  *  *

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

END
 
 
We are really inflating at 10% and not 2% if we go with indicators like the Chapwood Index. Incomes are
 
being vastly outpaced by the cost of living
 
(zerohedge)

“It’s A Constant Struggle”: Cost Of Living Increases Are Decimating The Middle And Lower Class

 
FRIDAY, DEC 18, 2020 – 16:40

While the government continues to peddle the CPI fairy tale and the true cost of living (as measured by real-world inflationary indicators like the Chapwood Index) appears to be closer to 10%, instead of 2%, the middle and lower class are bearing the brunt of the pain.

This was the topic of a new NPR piece that took a look at exactly why Americans were having trouble paying their expenses. What they found shouldn’t surprise anyone: incomes were being vastly outpaced by the cost of living. “An unexpected bill like that is what separates millions of Americans from financial disaster,” the piece says.

While some of this can be attributed to poor financial planning, some of it can also be attributed to an increasingly skewed playing field that’s being created as a result of monetary policy.

As of today, 33% of U.S. adults said they are having trouble paying for everyday costs. “Even some households making above $200,000 are straining to pay basic expenses,” the report notes. For many families, it isn’t just the pandemic that has put them in dire straits. More than 33% of Americans said they couldn’t cover an unexpected $400 expense a year ago.

And in identifying the culprit, we’re going to say something we rarely ever say: NPR nails it.

For decades, U.S. wages have failed to keep pace with the rising costs of what many perceive as essential ingredients for a successful American life: good education and health care, a home and a family.”

In other words, the true cost of inflation is vastly outpacing wages, as we have been saying for years. For example, last year, we posted what we called “The Inflation Chart That Explains Everything”. In that article, we noted:

“Over the past 20 years, US prices of goods and services has gone up by 56% while wages have gone up by 95%, which sounds quite good. However, when we look beneath the headline, we find that hospital services and college tuition have gone by a whopping 208% and 186%, respectively. This is much higher than wage growth, and shows that key services that enable people to move up the social ladder are being priced out of their reach. On the flipside, the price of TVs, cellphone services and toys have collapsed, so people can at least distract themselves away from their social woes.”

We showed a similar chart, visually explaining just how burdensome these key expenses had become:

As we also noted, the NPR article continues: “A home mortgage and utilities can bite off half of a monthly income, especially in big cities.”

But we were told by Jerome Powell that the rising cost of houses and the never-ending spike in the housing market was creating prosperity, not ending it.

Rhonda Alvarez, a dental assistant, told NPR: “I don’t feel like, even if I’m saving, I’m saving … I’m ever going to get ahead of anything. I feel like it’s a constant struggle, you know what I’m saying?”

And it isn’t just through inflation that the government is ruining the average American. Job losses as a result of Covid have been decimating the finances of many U.S. citizens.

As part of their report, NPR took a look into the finances of several families to show just how unsustainable their budgets were. Alverez’s budget shows her spending, even while cut, vastly outpacing her income as a result of the Covid pandemic taking her job.

Alverez’s situation is being echoed across the country on a daily basis – even while Fed chair Jerome Powell insists that the country needs more inflation. Of course, Americans have trouble getting ahead not only due to lack of access to jobs and income, but also due to rudimentary misunderstandings of finance to begin with.

On top of it all, the government – who the average Joe trusts to do right by them – is telling them inflation has basically been a myth. Again, the Chapwood Index paints a different story, showing cost of living rising about 10% in major U.S. cities, annually.

It says on its site: “The myth that the CPI represents the increase in our cost of living is why the Chapwood Index was created. What differentiates it from the CPI is simple, but critically important.”

The Chapwood Index:

  • Reports the actual price increase of the 500 items on which most Americans spend their after-tax money. No gimmicks, no alterations, no seasonal adjustments; just real prices.
  • Shines a spotlight on the inaccuracy of the CPI, which is destroying the economic and emotional fiber of our country.
  • Shows how our dependence on the CPI is killing our middle class and why citizens increasingly are depending upon government entitlement programs to bail them out.
  • Claims to persuade Americans to become better-educated consumers and to take control of their spending habits and personal finances.

END

CALIFORNIA/CORONAVIRUS UPDATE

California Reports Record COVID Cases And Deaths… Despite Strictest Lockdown

 
SATURDAY, DEC 19, 2020 – 22:30

Authored by Jon Miltimore via The Foundation for Economic Education,

On December 4, a bipartisan group of California legislators sent Gov. Gavin Newsom a letter urging him to reconsider his order closing outdoor playgrounds as part of his regional stay-at-home order.

“While we must appropriately consider best practices to reduce the risk of COVID-19 transmission, we also must ensure the children across the state are not unfairly deprived of their opportunities for outdoor access and play,” the legislators wrote.

Newsom’s order closing outdoor playgrounds—a response many see as senseless and ineffective, which prompted the governor to rescind it—is just one example of the hardline approach California public officials have taken in their attempt to mitigate the spread of the coronavirus.

Other restrictions include a 10 p.m. curfew, bans on outdoor dining and religious gatherings, as well as school closures. Surveys in recent months have shown California’s restrictions are some of the strictest in the US.

Sadly, but perhaps predictably, the regulations do not appear to be working. State data show California is smashing its previous highs in both COVID-19 cases and deaths.

“California broke its statewide records for both coronavirus cases reported and deaths reported in a single day on Wednesday,” The Hill reports.

“The state reported 51,724 COVID-19 cases on Wednesday, breaking the previous record of 42,088 cases, which was just set on Monday, according to a Los Angeles Times tally.”

To put these numbers into perspective, the number of deaths California reported on Wednesday was more than double the daily high in any previous month.

California is hardly the only state suffering from a sharp rise in COVID-19 mortality. But the figures reinforce emerging evidence that suggests lockdowns and other government restrictions are doing little to tame the coronavirus. 

As I recently noted, an abundance of academic research suggests there is little to no correlation between lockdown stringency and COVID mortality rates. This includes a study published on July 21 in The Lancetresearch from Tel Aviv University published in October, and a study published in Frontiers in Public Health in November.

Newsom’s decision to reimpose lockdowns in light of the evidence we have today has left some California public officials puzzled.

“During the first Shelter in Place order, which I wholeheartedly endorsed, the virus was brand new and had the capability of spreading exponentially due to zero immunity and people’s complete lack of awareness,” San Mateo County Health Officer Scott Morrow recently observed on the county’s website.

“[That order] was very much consistent with my long-held views about the judicious use of power.…However, I very quickly rescinded my initial orders shuttering society and focused my new orders on the personal behaviors that are driving the pandemic… .”

“During the first Shelter in Place order, which I wholeheartedly endorsed, the virus was brand new and had the capability of spreading exponentially due to zero immunity and people’s complete lack of awareness,” San Mateo County Health Officer Scott Morrow recently observed on the county’s website.

“[That order] was very much consistent with my long-held views about the judicious use of power.…However, I very quickly rescinded my initial orders shuttering society and focused my new orders on the personal behaviors that are driving the pandemic… .”

Morrow implied that many of the actions being taken suggest California officials have learned little since the spring.

“Just because one has the legal authority to do something, doesn’t mean one has to use it, or that using it is the best course of action,” he wrote.

“What I believed back in May, and what I believe now, is the power and authority to control this pandemic lies primarily in your hands, not mine.”

Morrow was blunt in his appraisal of the restrictions being imposed across the Golden State.

“I’m not sure we know what we’re doing,” he wrote. “I look at surrounding counties who have been much more restrictive than I have been, and wonder what it’s bought them.”

Morrow appears to have gleaned an insight once observed by the economist Milton Friedman.

“One of the great mistakes is to judge policies and programs by their intentions rather than their results,” Friedman famously observed.

With every passing week the results of government lockdowns become more clear. They cause tremendous and widespread harms—no one disagrees on this point—but the supposed benefits of the policies remain tenuous. Despite the bevy of evidence they possess, lawmakers continue to embrace restrictions because of bad incentives.

With every passing week the results of government lockdowns become more clear. They cause tremendous and widespread harms—no one disagrees on this point—but the supposed benefits of the policies remain tenuous. Despite the bevy of evidence they possess, lawmakers continue to embrace restrictions because of bad incentives.

The great economist Ludwig von Mises noted long ago that a great deal of modern social conflict is a struggle over who gets to design the world, individuals or authorities. Mises believed that individuals, if left to their own devices, would generally make rational decisions based on their own self interest. This is why he saw few things as dangerous as central planners who seek to supplant individual planning with their own (despite their knowledge limitations) in an effort to create a more perfect society.

“The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans,” Mises wrote in Socialism: An Economic and Sociological Analysis.

“He aims at one thing only: the exclusive absolute pre-eminence of his own plan.”

The Washington Post reported yesterday that nearly 8 million Americans have slipped into poverty since summer. When one considers the damage government lockdowns have wrought compared to the positive results they’ve achieved, one begins to see why Mises saw the unchecked power of authorities as such a threat.

ELECTION STORIES

Trump tweets out Martial law is fake news. But how about the Insurrection Act and exec. order 13848

no 1

(courtesy Gateway Pundit/Hoft)

President Trump Tweets Out “Martial Law = Fake News” Knowing There Are Several Options on the Table

On Saturday the internet was abuzz with reports that President Trump was going to impose martial law to expose the historic 2020 election fraud.

This came after news broke that President Trump met with Attorney Sidney Powell in the Oval Office Friday evening. President Trump discussed naming Powell as special counsel to investigate massive Democrat voter fraud that took place in the 2020 election.

General Michael Flynn also joined Sidney Powell on Friday. Deploying the US military was reportedly raised in the meeting but was nixed by Trump’s advisers.

But it was reportedly a raucous meeting.

President Trump set the record straight on Saturday night.

TRENDING: President Trump Releases Video – ‘FIGHT FOR TRUMP – SAVE AMERICA – SAVE THE WORLD’

Martial Law = Fake News

This does not mean that President Trump is throwing in the towel.

President Trump has several options left to expose the historic fraud in the 2020 election.

** President Trump can still confiscate and examine the controversial and suspect voting machines.
** President Trump can encourage the AWOL Justice Department to investigate and prosecute those who committed fraud.
** Mark Zuckerberg could be investigated for his role in shady election practices.
** President Trump can bring in the inventor of the QR Code, IT expert Jovan Hutton Pulitzer, to conduct his scan on completed ballots.
** President Trump can order an investigation of the USPS trailers full of ballots that left New York for battleground state Pennsylvania.
** Trump can investigate and indict the organizers of the Atlanta ‘suitcase’ scandal.
** Trump needs to investigate the SolarWinds breach and if there is a connection to the 2020 election.

President Trump has many options.
But he must act.

The future of the country and Western world is at stake.

END

No 2.

Dan Scavino is hinting on something big that is ready to take place

(Hoft/Gateway Pundit)

SOMETHING’S BREWING! Dan Scavino Posts Series of Tweets After Raucous Oval Office Meeting – Trump Is Ready to Take Action

Dan Scavino is an American political advisor serving as the White House Deputy Chief of Staff for Communications and Director of Social Media.

Dan has been President Trump’s social media director since before the 2016 election. He is a trusted and loyal Trump aide.

There was much talk today in the news today on President Trump meeting with Attorney Sidney Powell in the Oval Office Friday evening.  President Trump discussed naming Powell as special counsel to investigate massive Democrat voter fraud that took place in the 2020 election.

General Flynn also joined Sidney Powell on Friday. Deploying the US military was reportedly raised in the meeting but was nixed by Trump’s advisers.
But it was reportedly a raucous meeting.

And it was reported that General Flynn and Sidney Powell urged President Trump to fight this historic theft!

TRENDING: President Trump Releases Video – ‘FIGHT FOR TRUMP – SAVE AMERICA – SAVE THE WORLD’

Now it appears that President Trump has made a decision.
Trump is going to fight.

Look at Dan Scavino’s last three tweets —

Lincoln

Churchill

Trump communicating

This follows President Trump’s amazing video released earlier today.

Does this look like someone who is going to concede to thieves?

 
 
END
 
NO 3
 
This is interesting; other countries had their intelligence agencies monitoring the USA election
 
and they are willing to share their results with the President.
 
(Michael Flynn/Lou Dobbs/Fox
 

Other Countries Had their Intelligence Agencies Monitoring Our Election – Willing to Share with President” – Gen. Flynn Drops a BOMB on Lou Dobbs (VIDEO)

 

General Mike Flynn, the former National Security Adviser to President Trump, joined Lou Dobbs on Friday night to discuss the SolarWinds cyber attack and the Trump campaign’s strategy to expose the massive fraud in the stolen 2020 election.

General Flynn: What I would say is SolarWinds is an entry point into the rest of our entire US critical infrastructure. So everything that touches the United States government, if you enter through this SolarWinds attack that we perceive you basically have keys to the vault… You’re able to rummage around and do damn near anything. So it’s a very, very serious attack… We’ve known about it for about six months as I understand it. So when we talk about our election security, Lou, I think this is all part of it because there’s a relationship between these SolarWinds attacks which has basically penetrated our entire infrastructure as well as our election securities… We know we have evidence of foreign influence in the election and this too. You know we’re talking about countries like China, countries like Iran, countries like North Korea, like Russia. These are adversaries that want to basically dominate with their ideology this country…

General Flynn then went on to say intelligence agencies from other countries were watching our elections and have important intelligence to share.

General Flynn: Well, I think they’ll provide that directly to the president once we present the evidence to him through the legal process we have. And, they’re more than willing to do that, we understand.

TRENDING: REVEALED: ‘Simple Math’ Shows Biden Claims 13 MILLION More Votes Than There Were Eligible Voters Who Voted in 2020 Election

end
 
No 4
 
 
Here is another way to prove the fraud:
 
We have 213 million registered voters in the USA
 
66% of all voters voted in the election
 
We have 74 million voters who voted for Trump
 
That leaves 67 million voters for Biden
 
and thus 13 billion duplicate ballots were fraudulently voters for Biden’
 

REVEALED: ‘Simple Math’ Shows Biden Claims 13 MILLION More Votes Than There Were Eligible Voters Who Voted in 2020 Election

The 2020 election will go down as the most corrupt US election in history.

The US election was corrupted in so many ways.

TRENDING: REVEALED: ‘Simple Math’ Shows Biden Claims 13 MILLION More Votes Than There Were Eligible Voters Who Voted in 2020 Election

Bill Binney, of US Intel fame tweeted out a message yesterday noting that more people voted in the 2020 election nation-wide than were eligible to vote.

What Binney points out is that according to the Washington Post, 2020 had the highest voter turnout in over a century:

Of course this on its face value implies fraud since no one was excited about voting for Joe Biden, but the WaPo wouldn’t consider going there – not with their far-left extreme bias.

Binney attaches a link to the number of registered voters in the US.  We made a copy as of today and added these voters up.  When we add up the number of registered voters we obtain 213.8 million registered voters in the US as of this morning.

Using the numbers as of today, which are materially similar to Binney’s, we find a huge issue.  If we have 213.8 million registered voters in the US and 66.2% of all voters voted in the 2020 election, that equals 141.5 voters who voted in the 2020 election (Binney shows 140 million which is materially the same).

If President Trump won 74 million votes, then that leaves only 67.5 million votes remaining for Biden.  This means 13 million duplicate or made up ballots were created and counted for Biden!

This also supports our observations from the start.  Biden committed fraud in every imaginable way, but the big steal was in millions of fraudulent votes that were created to steal the election for Biden.  MILLIONS!

The results of the 2020 election at a very high level do not add up.  This is math liberals – very simple math that even liberals should be able to understand.  At a high level, the Biden camp clearly committed fraud.

end

No 5

Joe Biden Appears To Outperform In Counties Using Dominion Or HART Voting Machines: Data Analyst

 
SUNDAY, DEC 20, 2020 – 21:30

Authored by Allen Zhong via The Epoch Times,

Democratic presidential candidate Joe Biden outperforms in counties that use the Dominion or HART InterCivic voting machines, according to a data analyst.

“Analysis evidence suggests the use of the Dominion X/ICX BMD (Ballot Marking Device) machine, manufactured by Dominion Voting Systems, and machines from HART InterCivic appear to have abnormally influenced election results,” the data analyst wrote in a report that went public on Thursday.

The data analyst, who chose to remain anonymous for safety reasons, has 30 years of experience in data analysis, according to his profile reviewed by The Epoch Times.

In his research, he used voting data and 2017 census data to set up a baseline scenario to predict the election result. Then, he used the baseline model to compare the results of the November election.

The results show Biden falling above the prediction line in 78 percent of counties that use voting machines from those two companies.

His analysis also indicates that Biden consistently received 5.6 percent more votes in those counties than he should have.

Data analysis shows Democratic presidential candidate Joe Biden outperforms in counties that use specific voting machines. (Screenshot)

“That should not happen … The counties using Dominion machines are clearly too high,” he said in a video introducing his research results.

“That is a dramatic red flag in my opinion … something’s going on here.

He said that the “plus 5.6 percent” pattern is not caused by the above-mentioned voting machines being widely used in strong Democratic counties, as it can also be found in counties that have strong support for President Donald Trump.

The research has not been peer-reviewed.

A woman places her ballot in the tabulation machine after voting at Western High School during the presidential primary election in Warren, Mich., on March 10, 2020. (Jeff Kowalsky/AFP via Getty Images)

Hart InterCivic didn’t immediately respond to a request for comment from The Epoch Times. Dominion Voting System refused to comment on the results of the analysis. The company said that “courts of law across America have confirmed multiple times that there is no credible evidence to suggest any vote switching or fraud using Dominion Voting Systems.”

The analysis said he didn’t draw any conclusion on who caused the possible irregularities.

However, he believes that there must be a big scheme if the potential irregularities in his analysis have been caused by intentional activities.

“The patterns I’m seeing are across many counties—so my findings concern an organization with large-scale, national impact. That is, what I am seeing is not a local optical scan operator running a box of ballots through the system three times.”

He didn’t name any company or related party for wrongdoing.

end

no 6

Sidney Powell spotted leaving White House Sunday evening.

(Fairbanks/Gateway Pundit)

BREAKING: Sidney Powell Spotted Leaving White House on Sunday Evening

 
 

Firebrand lawyer Sidney Powell was spotted leaving the residence side of the White House on Sunday evening.

Powell has been leading the charge to challenge the election results, which many believe to have been fraudulent.

When questioned by a CNN activist “reporter” about the reason for her visit, Powell put him in his place — telling him that “it would be none of your business.”

“SPOTTED tonight at the White House: attorney & conspiracy theorist Sidney Powell. @abdallahcnn & I saw her leaving the residence side of the White House shortly before 9p. She denied meeting with Trump tonight. When pressed again, she said: ‘It would be none of your business’ CNN White House correspondent Jeremy Diamond tweeted.

TRENDING: “Big News Coming Out Of Pennsylvania”- Trump Tweets: “Very Big Illegal Ballot Drop”

Game on?

end

No 7

No question about it: Trump has deep- staters in his inner circle: Cippolone and two other lawyers along with Mark Meadows who want Trump to just give in…

“Betrayed From Within”: Patrick Byrne Blasts White House Staff After Attending Election Meeting With President Trump, Sidney Powell and Gen. Flynn

Former Overstock CEO Patrick Byrne blasted President Trump’s chief of staff Mark Meadows and White House lawyers in comments posted online Sunday about a meeting at the White House Friday night with Trump about the contested presidential election that Byrne attended with attorney Sidney Powell and former Trump national security advisor Lt. Gen. Michael Flynn (U.S. Army ret.), saying that Trump is being “betrayed from within.” Byrne also denied the reporting that a military coup or martial law were discussed.

“My involvement is I was in the room when it happened. The raised voices included my own. I can promise you: President Trump is being terribly served by his advisers. They want him to lose and are lying to him. He is surrounding by mendacious mediocrities.”..In addition, any suggestion if there was talk of a military coup or martial law is also a flat lie. 100% false. I was there for 4 1/2 hours, I heard the entire conversation, that is a 100% fabrication.”

 
 
 
 
 

 
Patrick Byrne
 
@PatrickByrne

In addition, any suggestion if there was talk of a military coup or martial law is also a flat lie. 100% false. I was there for 4 1/2 hours, I heard the entire conversation, that is a 100% fabrication.
Quote Tweet
Patrick Byrne
 
@PatrickByrne
·
My involvement is I was in the room when it happened. The raised voices included my own. I can promise you: President Trump is being terribly served by his advisers. They want him to lose and are lying to him. He is surrounding by mendacious mediocrities. twitter.com/majorpatriot/s…

Byrne called out White House Counsel Pat Cipollone as the leaker to the New York Times about the meeting and accused Meadows and White House staffers of lying to Trump to get him to concede, I was there for the full 4.5 hour meeting. Claims military coup/martial law were discussed is 100% fabrication. Trump is lied to by his own advisers, who tell staff “get the president to concede“ while they stall Trump. Meadows + Lawyers Eric, Derek, GC Pat Cippollone (leaker).”

 

 
 

 
Patrick Byrne
 
@PatrickByrne

I was there for the full 4.5 hour meeting. Claims military coup/martial law were discussed is 100% fabrication. Trump is lied to by his own advisers, who tell staff “get the president to concede“ while they stall Trump. Meadows + Lawyers Eric, Derek, GC Pat Cippollone (leaker).
Quote Tweet
Maggie Haberman
 
@maggieNYT
·
SCOOP – Sidney Powell was in Oval Office last night as POTUS discussed making her special counsel for election fraud. @KannoYoungs and me nytimes.com/2020/12/19/us/
Show this thread

“Meadows and legal staff led by GC Cippolone reflexively shoot down every sober discussion or idea presented. Their frame of mind is automatic: “we better not try that, it may not work, it would hurt your reputation in the press…“ No kidding, they say stuff like that. Tell DJT.”

Byrne named the advisors he believes are hurting Trump, “Pat Cippollone and two other lawyers. Eric and Derek. Meadows wants him to concede and transition also.”

Responding to a poster who offered an opinion on why the establishment is intent on getting rid of Trump, “I’m convinced the US Establishment including the Republican Establishment have decided to end the Trump era. They want Biden/Harris and the Globalist Reset. The reason they have resorted to such extreme measures is because the Reset is time critical. They need the US on board now,” Byrne replied, “Correct.”

 
 

 
 
Patrick Byrne
 
@PatrickByrne

My involvement is I was in the room when it happened. The raised voices included my own. I can promise you: President Trump is being terribly served by his advisers. They want him to lose and are lying to him. He is surrounding by mendacious mediocrities.
Quote Tweet
Major Patriot
 
@MajorPatriot
·
Surely by now autists have identified the hotel(s). I’m guessing it’s in DC for what we now know was the big Sidney Powell for Special Prosecutor meeting. Would love to know what Byrne’s involvement was. twitter.com/LetsRoll404/st
Show this thread
 
 
 
 
 
 

 
David Eire
 
@DavidWalshEire

I’m convinced the US Establishment including the Republican Establishment have decided to end the Trump era. They want Biden/Harris and the Globalist Reset. The reason they have resorted to such extreme measures is because the Reset is time critical. They need the US on board now

Byrne responded to several questions about the meeting and Trump’s attitude, It is 100% winnable. No martial law required. Sydney and Flynn presented a course that I estimate has 50% – 75% chance of victory. His staff just try to convince him to do nothing but accept it. As a CEO, my heart broke to see what he is going through. He is betrayed from within.”…”He truly believe he won and he truly did win. I did not vote for him, but I don’t want to see our country hijacked in a psyop.”…”Too nice. Thinks he will look bad in press. Nonsense like that.”…He wants to fight on. They are bending over backwards to come up with reasons to tell him he can’t do anything. He needs to fire them all or he loses.”

 
 

 
 
Patrick Byrne
 
@PatrickByrne

I was there for the full 4.5 hour meeting. Claims military coup/martial law were discussed is 100% fabrication. Trump is lied to by his own advisers, who tell staff “get the president to concede“ while they stall Trump. Meadows + Lawyers Eric, Derek, GC Pat Cippollone (leaker).
Quote Tweet
Maggie Haberman
 
@maggieNYT
·
SCOOP – Sidney Powell was in Oval Office last night as POTUS discussed making her special counsel for election fraud. @KannoYoungs and me nytimes.com/2020/12/19/us/
 

So is this winnable or is Trump not willing to buck the system & fight this fraud ?
 
 
 
 
 
Replies
 
 
 

 
Patrick Byrne
 
@PatrickByrne

Replying to

 

It is 100% winnable. No martial law required. Sydney and Flynn presented a course that I estimate has 50% – 75% chance of victory. His staff just try to convince him to do nothing but accept it. As a CEO, my heart broke to see what he is going through. He is betrayed from within.
 
 
 
 
 
 

 
stardog champion
 
@lv_teacher

Replying to

 

and

There was no fraud. 100% not winnable for diaper don.
 
V for Vendetta #StopTheSteal
 
@VStopthesteal

Replying to

 

and

 
Trump is going down the legal path up to the Supreme Court. If they don’t hold the Constitution then it would be up to him. His legal team just filed for emergency hearing against Pennsylvania. That’s the right and only path

Byrne has a strong dislike of Cipollone, blasting when asked who leaked the meeting, “White House General Counsel Pat Cippolone.”…”I’m not afraid of these weasels. A greasy slickster like Pat Cippollone leaks lies to the NYT. I tell the truth publicly.”…”No intelligence was involved. It was the White House general counsel and his team.”

Byrne posted photos from the White House to prove he was there Friday night.

 
 

 
 
Patrick Byrne
 
@PatrickByrne

To those doubting me…
 
 

Image

 
900
 
16.4K
 
 
 
 

 
Patrick Byrne
 
@PatrickByrne

 
 
 

Image

 
 

Byrne published a detailed analysis on the rigged election in November:

end

no 9

“Big News Coming Out Of Pennsylvania”- Trump Tweets: “Very Big Illegal Ballot Drop”

President Trump sent out a massive update on the Pennsylvania fraud.

He tweeted about a “very big illegal ballot drop that cannot be accounted for” in Pennsylvania:

TRENDING: “Big News Coming Out Of Pennsylvania”- Trump Tweets: “Very Big Illegal Ballot Drop”

President Trump led by nearly 700,000 votes on election night.

Democrats dumped hundreds of thousands of votes to steal the state from the Trump Campaign.

In a previous Gateway Pundit article, we reported on ballots being driven from New York To Pennsylvania:

** The first driver said that there were 24 gaylords filled with trays of ballots heading for Harrisburg PA on his tractor trailer route on October 21. Colonel Tony Shaffer calculated that this would be between 144,000 – 288,000 ballots.

** These ballots ORIGINATED in Long Island, New York, from the USPS Bethpage New York Logistics & Distribution Center. It’s not conceivable that up to 288,000 ballots of PENNSYLVANIA residents are in Long Island and that they all mailed their ballots on the same day “back home” to Pennsylvania, where they live. (USPS has a “facility clean-out policy” EVERY DAY for election mail.)

** There are other USPS PDCs (Processing and Distribution Centers) in the New York metro area that also send tractor/trailer loads by HCR contractors to Harrisburg. Those PDCs are in Jamaica, NY and Jersey City, NJ so it would be rational to assume that ballots coming out of the five boroughs (the bulk of NYC metro population) would likely go through Jamaica or Jersey City en route to Harrisburg.

** If this volume was kept up for several days, as indicated in the press conference, there would be 750,000 to a million ballots mailed from Long Island, NY by Pennsylvania residents back to Pennsylvania.

In testimony before the Pennsylvania State Legislature, there was this exchange: 

Rudy Giuliani: “Of the 600K votes added during curious ‘spikes’ in PA, how many went to Biden?”

Witness: “I think our figures were about 570-some-odd-thousand.”

Rudy Giuliani: “And how much for Trump?”

Witness: “I think it was a little over 3,200.”

The crowd erupted in gasps and laughter.

What happened in Pennsylvania?

END

A super commentary from Dr Ron Paul…

Government, Not COVID-19, Is Killing Small Businesses

 
MONDAY, DEC 21, 2020 – 16:20

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

A video of a confrontation between Ventura County, California health officials and restaurant owner Anton Van Happen has gone viral.

The health officials were ordering Mr. Van Happen to close his business because he allegedly violated California’s ban on outdoor dining. Mr. Van Happen asked the health officials if the government will pay his employees and his rent while his business is indefinitely closed.

Mr. Van Happen is hardly the only small business owner worried about how to pay bills during the lockdowns. Many small businesses operate on a narrow profit margin, so being forced to “temporarily” shut down or limit the number of customers they can serve is a virtual death sentence.

The lockdowns have already caused as many as 200,000 small businesses to permanently close. Lockdowns, by shrinking the number of employers, lead to long-term unemployment or lower wages for many workers.

While governments have terrorized small businesses, they have typically deemed the big chain stores “essential businesses” so they can remain open. The lockdowns are thus another government policy that gives big businesses a competitive advantage over their smaller competitors.

The benefits big businesses get from the lockdowns – including fewer competitors, more customers, and a job market with more workers competing for fewer jobs – may explain why many big businesses are not fighting the lockdowns. Instead, most big retail chains are requiring their workers and customers to wear masks. Many big businesses may soon deny service to those who refuse to receive a Covid vaccine.

One would think that progressives who claim to oppose policies that benefit big corporations like WalMart, Target, and Amazon would oppose the lockdowns. Sadly, even many progressives are unquestioningly parroting the Covid propaganda and demonizing those who dissent.

By slowing down the development of herd immunity among the population, the lockdowns could put those truly at risk in greater danger. Lockdowns have also had negative effects such as increases in drug and alcohol abuse and increases in domestic violence. Meanwhile, many schoolchildren are deprived of the opportunity to interact with their teachers and their peers. Instead, these children are subjected to the fraud of “virtual learning.”

Resistance to Covid tyranny is growing as more people figure out that lockdowns and mandates are both unnecessary and harmful. This resistance was largely started by small business owners faced with a choice between obeying the government or making sure they, and their employees, can feed their families. Small business owners have been leaders in recent anti-lockdown protests across America.

Eventually the resistance will grow to the point where the politicians will be forced to either double down on authoritarianism or admit the lockdowns were a mistake. Either way, those of us who know the truth must resist the Covid tyranny until government officials no longer terrorize small businesses for the crime of serving willing consumers.

END

iv) Swamp commentaries)

Quite funny! Owners of New York Restaurants are striking back banning Cuomo from dining out

(zerohedge)

“Let Him Eat At Some Shitty Roadside Diner” – NYC Restaurants Strike Back, Ban Cuomo From Dining Out

 
 

Earlier this month, Gov. Andrew Cuomo banned indoor dining at New York City restaurants that could foretell a dark winter for one of the city’s top industries.

The indoor ban is the second of the year, with at least half of the city’s restaurants in danger of closing as temperatures plunge and snowstorms deter patrons dining outdoors.

Restaurants are furious with Cuomo’s latest decision because only 1.3% of coronavirus cases originated from eateries over the last three months.

“This is insane,” said Yann de Rochefort, founder of the tapas chain Boqueria.

“They are basically shutting down industry and throwing thousands of people out of work because restaurants were linked to 1.4 percent of cases? It is criminal.”

Restaurant operators will only take so much pain as many have already shuttered operations, and others are at risk of losing everything. Festering under the surface is revolt as restaurateurs call for a city-wide permanent ban on Cuomo eating at their establishments, according to The Coney Island Blog.

He can eat at some sh—- roadside diner outside of Albany but he will not be served anywhere in New York City, known universally as the world’s greatest dining destination! If he has to use the restroom he can go pee on my street-corner,” bar owner Larry Baird told the blog. 

Members of a Facebook group called “NYC Restaurant Open,” which are mainly restaurant and bar owners from the city, support the Cuomo ban.

“He should be banned from every restaurant bar etc he’s a scumbag f**k you coumo and di blasio,” one group member said. 

Another member said: “I kind of had this thought as well if i was an owner of a restaurant in nyc after everything if he came in i would turn his ass away as well. which ever restaurants are vowing this they deserve the utmost respect.” 

“Completely schizophrenic behavior,” someone said. “How are they coming up with these rules is beyond any logical reasoning.”

since the pandemic began, more than a thousand restaurants in the city have already closed.

A revolt is already underway against the government – some Americans no longer support draconian coronavirus measures to mitigate the virus’s spread that ultimately decimate small businesses

END

Biden: Trump deserves some credit…

jerk!

Biden: Trump “Deserves Credit” For COVID-19 Vaccine

 
MONDAY, DEC 21, 2020 – 15:47

After being vaccinated on Monday with the Pfizer vaccine (live on camera to try and help bolster public confidence in the vaccine), former Vice President Joe Biden declared that the Trump Administration “deserves some credit getting this off the ground,” in reference to “Operation Warp Speed”, the program of federal subsidies to drug makers.

Biden claimed he was taking the vaccine to help demonstrate that “people should be prepared when its available” whenever their turn comes to take the vaccine.

Even though Pfizer never took money up front, the company signed a major deal with OWS to deliver 100M doses for just under $2BN.

Other vaccine makers have tried their hardest to try and minimize the Trump Administration’s role despite taking billions of dollars in federal funding.

Though we wouldn’t be surprised to hear some spin-master twist Biden’s words to imply that by referring to “the Administration” he didn’t specifically mean “President Trump”.

On Tuesday, health officials including Dr. Anthony Fauci and USSD head Alex Azar will be vaccinated at a National Institutes of Health event Tuesday, according to a tweet from agency head Francis Collins.

.

END
 

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

U.S. Blacklists more Than 60 Chinese Firms, Including SMIC (largest chipmaker) 7:24 ET

https://www.bloomberg.com/news/articles/2020-12-18/u-s-to-blacklist-smic-and-dozens-more-china-firms-reuters-says

@CRutherglen: The metal-value of the US 5-cent Nickel coin is now back above its face-value. First time since July 2014.    https://twitter.com/CRutherglen/status/1340157715696402432

WaPo: Europe is paying less than U.S. for some coronavirus vaccines, including 24% less for Pfizer’s, previously confidential data shows

Trump signs bill that could kick Chinese firms off U.S. stock exchanges [After NYSE close on Fri.]

If they have failed to comply with the U.S. Public Accounting Oversight Board’s audits for three years in a row.  https://www.reuters.com/article/us-usa-china-stocks/trump-signs-bill-that-could-kick-chinese-firms-off-u-s-stock-exchanges-idUSKBN28S2ZJ

 

Treasury Proposes Crackdown on Virtual-Currency Transfers [Positive development for gold]

  • Proposal would hit exchanges and banks with new requirements
  • Industry fears that plan will hamper fast-growing asset class

The U.S. Treasury Department said Friday it is proposing new requirements involving convertible virtual currencies that would require banks and other intermediaries to maintain records and submit reports to verify customer identities for certain transactions.  The Financial Crimes Enforcement Network — a unit within Treasury that guards against money laundering — requested comments on the proposed rules, saying they were aimed at closing loopholes that can be exploited.

https://www.bloomberg.com/news/articles/2020-12-18/treasury-proposes-cracking-down-on-virtual-currency-transfers

 

NYC Mayor de Blasio: “I like to say very bluntly: our mission is to redistribute wealth…That is in fact the phrase we need to use…  https://twitter.com/DailyCaller/status/1340035130824544257

 

@realDonaldTrump: The Cyber Hack is far greater in the Fake News Media than in actuality. I have been fully briefed and everything is well under control. Russia, Russia, Russia is the priority chant when anything happens because Lamestream is, for mostly financial reasons, petrified of discussing the possibility that it may be China (it may!). There could also have been a hit on our ridiculous voting machines during the election

 

Trump contradicts Secretary of State Pompeo who said Russia probably did the hacking.

 

Trump Discussed Naming Campaign Lawyer as Special Counsel on Election Fraud

In a meeting at the White House on Friday, the president weighed appointing Sidney Powell, who promoted conspiracy theories about rigged voting machines, to probe voter fraud.

https://www.nytimes.com/2020/12/19/us/politics/trump-discussed-naming-campaign-lawyer-as-special-counsel-on-election-fraud.html

 

Feds issue new guidelines, launch probe to address early allergic reactions to COVID vaccine

https://justthenews.com/politics-policy/coronavirus/feds-issue-new-guidelines-launch-probe-address-early-allergic-reactions

 

FDA investigating allergic reactions to Pfizer vaccine reported in multiple states

https://thehill.com/policy/healthcare/530966-fda-investigating-allergic-reactions-to-pfizer-vaccine-reported-in-multiple#.X96YINW9RS0.twitter

 

U.S. CDC Statement on COVID-19 Vaccines and Severe Allergic Reactions

  • Some People Have Experienced Severe Allergic Reactions, Known as Anaphylaxis, after Getting Covid-19 Vaccine
  • If You Have Ever Had a Severe Allergic Reacton to Any Ingredient in a Covid-19 Vaccine, Recommends “You Should Not Get That Specific Vaccine”…
  • People Who Might Have a Milder Allergy to Vaccines May Still Get Vaccinated

https://uk.reuters.com/article/brief-us-cdc-statement-on-covid-19-vacci/brief-us-cdc-statement-on-covid-19-vaccines-and-severe-allergic-reactions-idUKFWN2IZ02U

 

Advocate Condell Medical Center (Libertyville, IL) to resume vaccinations after temporary pause due to COVID-19 vaccine side effects https://t.co/248pkmpv8R

 

Boris Johnson Tightens U.K. Lockdown, Citing Fast-Spreading Version of Virus

The variant is up to 70 percent more transmissible than earlier versions, officials said…

https://www.nytimes.com/2020/12/19/world/europe/coronavirus-uk-new-variant.html

 

Ex-MEP @Fox_Claire: Key point: “there is no evidence of increased mortality of this ‘new strain‘” Yet DESPITE this evidence, Boris has taken drastic measures, total U-turned on previous advice & cancelled Christmas rules, which he previously said would be inhumane. All w no balance of broader risks

 

Travel chaos as trains and motorways loaded with people escaping London for Christmas

Travel chaos took hold on Saturday evening as people rushed to leave London before the introduction of tier 4 restrictions…  https://www.independent.co.uk/news/uk/home-news/traffic-tier-4-london-south-east-b1776612.html

 

Belgium bars travel from UK over new coronavirus strain – VRT https://t.co/cQcFsLRa8T

 

Netherlands banned air travel from the UK.  Germany and France are mulling a complete travel ban between the UK and Europe, effective from today until January 6th.

 

[White House coronavirus response coordinator Dr. Deborah] Birx violated own advice, traveling and sharing meal with a different household Thanksgiving weekend

https://www.washingtonexaminer.com/news/birx-violated-own-advice-traveling-and-sharing-meal-with-a-different-household-thanksgiving-weekend

 

GOP Rep @laurenboebert: How did we go from starting a revolution over a tax on tea to collectively shrugging our shoulders when the government locks us in our homes, keeps us from seeing our families and arbitrarily closes our small businesses?

 

Fox’s @ChadPergram: GOPers saying they won’t budge from Toomey provision. GOP LA Sen Kennedy says… Dems want to “turn the Federal Reserve into a commercial bank.”

 

Weekend deal for stimulus package hits major roadblock over GOP plan to limit Federal Reserve

Toomey, a conservative lawmaker on the Senate’s banking committee, has demanded provisions that would curb the ability of the Fed to restart emergency lending programs for localities and small businesses. The Toomey proposal was criticized in an unusual statement by former Fed chair Ben S. Bernanke who led the central bank during the 2008 financial crisis…

https://www.washingtonpost.com/us-policy/2020/12/19/stimulus-talks-race-against-government-shutddown-deadline/

Toomey, Schumer reach compromise language on COVID relief bill

Details on the changes were not immediately available… “This agreement will preserve Fed independence and prevent Democrats from hijacking these programs for political and social policy purposes.”…  https://www.foxnews.com/politics/toomey-schumer-reportedly-reach-agreement-on-covid-relief-bill-language

McConnell: Coronavirus relief deal reached, final package expected in ‘matter of hours’

“At this point we’re down to the last few differences…”…

https://www.foxnews.com/politics/mcconnell-coronavirus-relief-today-stimulus-compromise

Here’s what’s in the new $900 billion stimulus package – Jobless benefits, aid to small businesses, stimulus checks and money for vaccine distribution are in. New aid for local governments and corporate liability shields are out… $600 stimulus checks per person, including adults and children.  The size of the payment decreases for people who earned more than $75,000 in the 2019 tax year. The check disappears altogether for those who earned more than $99,000…extend unemployment benefits of up to $300 per week for up to 11 weeks…$600 in enhanced weekly unemployment benefits…$284 billion for first and second forgivable PPP loans…$15 billion in funds for live venues, independent movie theaters and cultural institutions…$20 billion for targeted grants through the Economic Injury Disaster Loan program…tax break for corporate meal…as a way to revive the restaurant industry…$25 billion in emergency assistance to renters…Colleges and schools will have $82 billion to cover HVAC repair and replacement…$13 billion to increase food stamps and nutrition benefits; $7 billion to increase access to broadband…$27 billion for state highways, struggling transit agencies, Amtrak and airports; and $22 billion for the health-related expenses of state, local, tribal and territorial governments…

https://www.washingtonpost.com/business/2020/12/20/stimulus-package-details/

Apple shuts down all California locations amid rising COVID-19 cases   https://trib.al/qMDO1dE

CNBC: Amazon Shuts New Jersey Warehouse Due to Coronavirus

Trump goes to U.S. Supreme Court, asks justices to reverse Pennsylvania cases

https://justthenews.com/politics-policy/elections/trump-campaign-wants-us-supreme-court-reverse-pennsylvania-supreme-court

Former Wisconsin Judge: ‘Our Court System Has Been Deeply Intimidated by the Left’

A former judge from Wisconsin, who is now representing the Trump campaign in the state, told lawmakers this week that he believes intimidation by the left has prevented lawyers and judges from accepting and hearing election fraud cases…

https://www.theepochtimes.com/former-wisconsin-judge-our-court-system-has-been-deeply-intimidated-by-the-left_3625725.html

Trump implores GOP not to be ‘weak fools’ on election results, promises big protest in D.C.

Biden “lost all 6 Swing States, by a lot,” president argues.

https://justthenews.com/politics-policy/elections/trump-urges-republicans-fight-over-election-results-promises-big-protest

Maricopa County refuses to comply with Arizona legislative subpoena for election evidence

https://t.co/stuRDE1s4b

@Barnes_Law: What good are election laws if the executive branch ignores them and courts don’t enforce them?

 

Dominion warned memory cards might need to be prematurely removed from machines

Due to vote counting limits, at least 36 memory cards in voter tabulators had to be prematurely removed, raising new concerns about chain of custody and belatedly discovered memory cards

    The recently revealed directive throws new light on memory card-related controversies that have arisen in Georgia since the 2020 election last month… 

https://justthenews.com/politics-policy/elections/dominion-procedure-included-possible-removal-memory-cards-voting-machines

 

Eric Swalwell and the spy: A lesson in how China is undermining us

Swalwell’s prior experience in the world of foreign intelligence operations was limited to his role as a small-town councilmanWhy then, you might logically wonder, was he assigned to the prestigious and sensitive intelligence committee? It wasn’t for his keen understanding of Russian tradecraft, that much we know. Think more along the lines of the business and philosophical interests of the China-groveling high-tech companies and socialist academic communities whose districts he straddles.

Ambitious, inexperienced, attention-seeking politicians are like marks for mafia loan sharks. At some point a payment has to be made and the interest on the loan is ugly. Eric Swalwell had an ugly payment week. His carelessness with a Chinese intelligence operative looks far more substantive than the Russia collusion unicorn he so publicly insisted was real…  https://t.co/ypMYkyroG9

 

The above The Hill story implies that Chinese interests placed Swalwell on the House Intelligence Com.

 

Facebook fact-checker struck deal with Communist China-linked social media company

Outlet is providing consultation services to TikTok, company owned by CCP-affiliated ByteDance

https://justthenews.com/nation/technology/facebook-fact-checker-defends-contract-chinese-communist-linked-social-media

 

Hunter Biden is the smartest man I know in pure intellectual capacity” — Joe Biden (deeply troubling)

 

Helen Keller Dissed In TIME Magazine Feature: ‘Just another … Privileged White Person’

TIME magazine featured a comment from a left-wing disability activist who dissed Helen Keller as “just another, despite disabilities, privileged white person.”…

https://www.dailywire.com/news/helen-keller-dissed-in-time-just-another-privileged-white-person

Well that is all for today

I will see you TUESDAY night.

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