GOLD:$1866.30 DOWN $12.00 The quote is London spot price

Silver:$25.42 DOWN $0.74 London spot price ( cash market)

Closing access prices: London spot

i)Gold : $1860.40 LONDON SPOT 4:30 pm

ii)SILVER: $25.17//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.

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.”

https://www.whitehouse.gov/presidential-actions/executive-order-imposing-certain-sanctions-event-foreign-interference-united-states-election/

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:99/424

EXCHANGE: COMEX
CONTRACT: DECEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,879.200000000 USD
INTENT DATE: 12/21/2020 DELIVERY DATE: 12/23/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 335
657 C MORGAN STANLEY 92
661 C JP MORGAN 6 99
685 C RJ OBRIEN 20
686 C STONEX FINANCIA 13
732 C RBC CAP MARKETS 7
737 C ADVANTAGE 38
800 C MAREX SPEC 6
905 C ADM 63 17
991 H CME 152
____________________________________________________________________________________________

TOTAL: 424 424
MONTH TO DATE: 29,661

ISSUED 0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

TOTAL NUMBER OF NOTICES FILED TODAY: 424 NOTICES FOR 42400 OZ (1.319 TONNES)

TOTAL NUMBER OF NOTICES FILED SO FAR: 29,661 NOTICES FOR 2,966,100 OZ (92.258 tonnes)

SILVER//DEC CONTRACT

345 NOTICE(S) FILED TODAY FOR 1,725,000 OZ/

total number of notices filed so far this month: 9183 for 45,915,000 oz

BITCOIN MORNING QUOTE $22,865 UP 409

BITCOIN AFTERNOON QUOTE. :$23,440 UP 752 DOLLARS .

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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 $12.00 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

STRANGE! A HUGE DEPOSIT OF 2.04 TONNES INTO THE GLD

INVENTORY RESTS AT:

GLD: 1,169.86 TONNES OF GOLD//

WITH SILVER DOWN 74 CENTS TODAY: AND WITH NO SILVER AROUND:

NO CHANGE IN SILVER INVENTORY AT 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 FELL BY A SMALL SIZED 498 CONTRACTS FROM 171,896 DOWN TO 171,398, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR GAIN OF $0.30 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS DUE TO HUGE BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A FAIR EXCHANGE FOR PHYSICAL. WE HAD ZERO LONG LIQUIDATION, AND A GOOD INCREASE IN SILVER OUNCES STANDING AT THE COMEX FOR DEC. WE HAD A FAIR GAIN IN OUR TWO EXCHANGES OF 742 CONTRACTS (SEE CALCULATIONS BELOW).

WE WERE NOTIFIED THAT WE HAD A FAIR NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 777, AS WE HAD THE FOLLOWING ISSUANCE: DEC: 0, MARCH 777 FOR ZERO ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 777 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.

46.900 MILLION OZ INITIAL STANDING FOR DEC.

MONDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE $0.30) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS WE HAD A SMALL GAIN IN OUR TWO EXCHANGES 279 CONTRACTS). NO DOUBT THE GAIN IN OI ON THE TWO EXCHANGES WAS DUE TO i) HUGE BANKER/ STRONG ALGO SHORT COVERING. WE ALSO HAD ii) A FAIR ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A GOOD INCREASE IN SILVER OZ STANDING FOR DEC, iii) SMALL COMEX OI LOSS 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:

14,664 CONTRACTS (FOR 16 TRADING DAY(S) TOTAL 14,664 CONTRACTS) OR 73.320 MILLION OZ: (AVERAGE PER DAY 917 CONTRACTS OR 4.58 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF DEC: 73.320 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: 1,647.64 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: 73.32 MILLION OZ (ESCALATING IN NUMBERS AGAIN )

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 498, DESPITE OUR $0.30 GAIN IN SILVER PRICING AT THE COMEX //MONDAY.…THE CME NOTIFIED US THAT WE HAD A FAIR SIZED EFP ISSUANCE OF 777 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS.

TODAY WE GAINED A SMALL SIZED 279 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR $0.30 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 777 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH A SMALL SIZED DECREASE OF 498 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.30 RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.16 // MONDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY.

In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.8600 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: 345 NOTICE(S) FOR 1,725,000 OZ OF SILVER.

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

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 1023 CONTRACTS TO 560,769 AND FURTHER FROM OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE LOSS IN COMEX OI OCCURRED WITH OUR FALL IN PRICE OF $5.60 /// COMEX GOLD TRADING//MONDAY.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 (2271 CONTRACTS). WE FINALLY HAVE A GOOD SIZED INCREASE IN AMOUNT OF GOLD STANDING FOR DELIVERY IN DECEMBER(GOLD STANDING UP TO 92.833 TONNES) .…THIS ALL HAPPENED WITH OUR LOSS IN PRICE OF $5.60.

WE HAD A VOLUME OF 1 4 -GC CONTRACTS//OPEN INTEREST 7//

WE HAD A SMALL SIZED GAIN OF 2271 CONTRACTS (7.063 TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3294 CONTRACTS:

CONTRACT .; DEC: 0; FEB: 3294 AND DEC ’21: 0 ALL OTHER MONTHS ZERO//TOTAL: 3294. The NEW COMEX OI for the gold complex rests at 560,769. 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 2271 CONTRACTS: 1023 CONTRACTS DECREASED AT THE COMEX AND 3274 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN//TWO EXCHANGES OF 2271 CONTRACTS OR 7.063 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3294) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (1023 OI): TOTAL GAIN IN THE TWO EXCHANGES: 2,271 CONTRACTS. WE NO DOUBT HAD 1) SOME BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2 GOOD GAIN IN GOLD OUNCES STANDING AT THE GOLD COMEX FOR THE FRONT DEC. MONTH TO 92.833 TONNES) 3) ZERO LONG LIQUIDATION ;4)SMALL COMEX OI LOSS, 5) FAIR SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL….ALL OF THIS OCCURRED WITH OUR LOSS IN GOLD PRICE TRADING/MONDAY//$5.60.

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 : 38,209 CONTRACTS OR 3,820,900 oz OR 118.84 TONNES (16 TRADING DAY(S) AND THUS AVERAGING: 2388 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 16 TRADING DAY(S) IN TONNES: 118.84 TONNES

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

THUS EFP TRANSFERS REPRESENTS 118.84/3550 x 100% TONNES =3.34% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE: 3,945.14 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: 118.84 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, FELL BY A SMALL SIZED 1023 CONTRACTS FROM 171,861 DOWN TO 171,398 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 2 3/4 YEARS AGO. THE PRICE OF SILVER ON THAT DAY: $17.89.

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

EFP ISSUANCE 777 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: 777 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 777 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 498 CONTRACTS TO THE 777 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A SMALL GAIN OF 279 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 1.395 MILLION OZ, OCCURRED WITH OUR $0.30 RISE 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)TUESDAY MORNING/ MONDAY NIGHT:

SHANGHAI CLOSED DOWN 63.79 PTS OR 1.86% //Hang Sang CLOSED DOWN 187.43 PTS OR .71% /The Nikkei closed DOWN 278.03 POINTS OR 1.04%//Australia’s all ordinaires CLOSED DOWN 1.08%

/Chinese yuan (ONSHORE) closed UP 6.5410 /Oil UP TO 47.42 dollars per barrel for WTI and 50.51 for Brent. Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5410. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5327 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19 : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP RAISED RATES TO 25%

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY BY A SMALL SIZED 1023 CONTRACTS TO 560,769 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 CONSIDERABLE LOSS OF $5.60 IN GOLD PRICING MONDAY’S COMEX TRADING/).

WE HAD A FAIR EFP ISSUANCE (3294 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 92.833 TONNES)//DEC. DELIVERY MONTH (SEE BELOW) 4) AS WE ENGINEERED A SMALL SIZED GAIN ON OUR TWO EXCHANGES OF 2,271 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 1 4 -GC VOLUME//open interest LOWERS TO 7

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF NOV.. THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 3294 EFP CONTRACTS WERE ISSUED: DEC 0; FEB// ’21 3294 AND DEC 21: 0 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3294 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: 2,271 TOTAL CONTRACTS IN THAT 3294 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED 1023 COMEX CONTRACTS.. THE BIG NEWS IS THE GIGANTIC LEVEL OF DEC 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((92.833 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 SUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT FELL $5.60). BUT, THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 9.082 TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR DECEMBER (92.833 TONNES)

NET GAIN ON THE TWO EXCHANGES :: 2,271 CONTRACTS OR 227,100 OZ OR 7.063 TONNES

COMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION. IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCTION)

THUS IN GOLD WE HAVE THE FOLLOWING: 560,769 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.07 MILLION OZ/32,150 OZ PER TONNE = 1744 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1744/2200 OR 79,27% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

INITIAL STANDING FOR DEC GOLD

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil oz
Withdrawals from Customer* Inventory in oz*	nil oz
Deposits to the Dealer* Inventory in oz*	32,311.755 oz BRINKS
Deposits to the Customer* Inventory, in oz*	160,755.000 OZ jPMORGAN 5,000 KILOBARS
No of oz served (contracts) today	424 notice(s) 42,400 OZ (1.319 TONNES)
No of oz to be served (notices)	185 contracts (18500 oz) 0.5754 TONNES
Total monthly oz gold served (contracts) so far this month	29,661 notices 2,966,100 OZ 92.258 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 kilobar transactions

ADJUSTMENTS: 2// BRINKS: dealer to customer: 6,848.463

and

2. DELAWARE: 1999.88 oz customer to dealer

The front month of DEC registered a total of 609 contracts for a GAIN of 112. We had 1 notice filed upon yesterday so we FINALLY GAINED A FAIR SIZED 113 contacts or 11,300 additional oz will stand in this very active delivery month of December as FINALLY we still witness SOME queue jumping by our bankers searching for gold metal on this side of the pond trying to put out fires on the other side of the Atlantic.

Still, throughout the month we witnessed a lack of any sizeable queue jumping which generally means gold is scarce over on this side.

January LOST 46 contracts to stand at 2027 contracts. FEBRUARY LOST 2198 contracts DOWN TO 415,098.

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

We had 424 notice(s) filed today for 42400 oz OR 1.319 TONNES.

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 (29,661) x 100 oz , to which we add the difference between the open interest for the front month of (DEC 609 CONTRACTS ) minus the number of notices served upon today (424 x 100 oz per contract) equals 2,984,600 OZ OR 92.833 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 (29,661 x 100 oz +609 OI) for the front month minus the number of notices served upon today (424) x 100 oz which equals 2,984,600 oz standing OR 92.833 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

69,423.136 oz Pledged August 21/regular account 1.96 tonnes JPMORGAN

180,150,379 oz Pledged Nov 27.2021 MANFRA 5.56 TONNES

total pledged gold: 2,052,582.012. oz 63.84 tonnes

registered gold that can be used to settle upon: 17,053,917 (530,44 tonnes)

true registered gold (total registered – pledged tonnes 17,053,917.0 (530.44 tonnes)

total registered, pledged and eligible (customer) gold 37,905,122.096 oz 1,179.00 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold: 126.34 tonnes

total gold net of 4 GC: 1052.66 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 22/2020

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	610,477.31 oz CNT DELAWARE
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	600,691.750 oz CNT
No of oz served today (contracts)	345 CONTRACT(S) (1,725,000 OZ)
No of oz to be served (notices)	197 contracts 985,000 oz)
Total monthly oz silver served (contracts)	9183 contracts 45,915,000 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 1 deposits into the customer account (ELIGIBLE ACCOUNT)

intoJPMorgan 0

into CNT: 600,691.750 oz

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: 600,691.750 oz oz

we had 2 withdrawals:

i) Out of CNT: 599,307.160 oz

ii)Out of Delaware: 11,170.199 oz

total withdrawals 610,477.35 oz

We had 2 adjustments

Out of CNT and Loomis: dealer to customer:

CNT 101,450.108 oz

Loomis: 579,407.000 oz

Total dealer(registered) silver: 152,688million oz

total registered and eligible silver: 395.350 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

December saw a GAIN of 68contracts UP to 542 contracts. We had 0 notices served upon yesterday so we GAINED 68 contracts or AN ADDITIONAL 340,000 oz will stand in this very active delivery month of December as longs SEARCH FOR silver over here

January saw a GAIN of 1 contracts UP to 1354. FEBRUARY saw another gain of 16 contracts to stand at 320. MARCH LOST 475 contracts up to 145,530.

The total number of notices filed today for DEC 2020. contract month is represented by 345 contract(s) FOR 1,725,000 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 9183 x 5,000 oz = 45,915,000 oz to which we add the difference between the open interest for the front month of DEC ( 542) and the number of notices served upon today 345x (5000 oz) equals the number of ounces standing.

Thus the DEC standings for silver for the DEC/2019 contract month: 9183 (notices served so far) x 5000 oz + OI for front month of DEC(542)- number of notices served upon today (345) x 5000 oz of silver standing for the NOV contract month .equals 46,900,000 oz. ..VERY STRONG FOR AN ACTIVE DEC MONTH.

We GAINED 68 contracts or 340,000 additional oz will stand as our banker friends search out for metal on this side of the pond.

TODAY’S ESTIMATED SILVER VOLUME 101,616 CONTRACTS // volume huge /raid//

FOR YESTERDAY 139,005 ,CONFIRMED VOLUME// huge raid

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- 3.05% ((DEC 22/2020)

2. Sprott gold fund (PHYS): DISCOUNT to NAV RISES TO 1.79% to NAV: (DEC 22/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/3.05% (DEC 22)

(courtesy Sprott/GATA

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

NAV 19.37 TRADING 18.68///NEGATIVE 3.57

END

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

James Turk is an excellent technician. He notes the huge volatility in silver and that to him signals an upward trend.

James Turk/Kingworldnews)

Silver’s volatility today signals new trend higher, Turk tells KWN

Submitted by cpowell on Tue, 2020-12-22 02:30. Section: Daily Dispatches

9:29p ET Monday, December 22, 2020

Dear Friend of GATA and Gold (and Silver):

Volatility in silver trading today — an astounding range of 9 percent — indicates that the metal’s upward trend is resuming, GoldMoney founder and GATA consultant James Turk tells King World News today. Turk says the gold-silver ratio is still too high and price gains henceforth will favor silver.

Turk’s comments are posted at KWN here:

https://kingworldnews.com/the-war-in-the-silver-market-is-heating-up-as-…

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

END

My goodness: The slush fund used by ESF has grown to $681 billion. During the first COVID relief bill, 454 billion went directly to the ESF and this money was to be lent to the Fed. It never got there. However the USA wants that money back and only 114 billion has been returned. What happened to the 300 billion? Backing the huge bank losses in gold and silver?

Pam and Russ Martens: Market-rigging ESF slush fund increased to $681 billion by ‘stimulus’ bill

Submitted by cpowell on Tue, 2020-12-22 16:24. Section: Documentation

By Pam and Russ Martens
Wall Street on Parade
Tuesday, December 22, 2020

The language that Republican U.S. Sen. Pat Toomey inserted into the final stimulus bill (Consolidated Appropriations Act, 2021) appears below. It not only restricts the Federal Reserve’s ability to extend some of its current emergency lending programs that help small and medium size businesses and state and local governments beyond December 31 of this year (while leaving Wall Street bailout programs alive for at least another 90 days) but it also enshrines the autonomy of the U.S. Treasury Secretary to operate a massive slush fund — the Exchange Stabilization Fund (ESF).

Most Americans have never heard of the Treasury’s Exchange Stabilization Fund. It was created in 1934 to provide support to the U.S. dollar during the Great Depression. The ESF has grown from $94.3 billion in assets prior to Trump taking office to a balance of $681 billion as of October 31, 2020. As recently as March 31, 2007, the ESF had assets of just $45.9 billion.

According to footnote 1 of the October 31, 2020, ESF financial statement linked above, the ESF received the “full amount” of the CARES Act appropriation to the Treasury of $500 billion in March, from which Treasury Secretary Mnuchin was supposed to give $454 billion to the Fed to backstop the Fed’s emergency lending programs. Those programs were to be used during the financial crisis to loosen credit markets, help Main Street businesses, and shore up local and state governments through support of municipal bond markets.

But instead of turning over the full $454 billion to the Fed, Mnuchin turned over just $114 billion for the Fed’s emergency lending programs, as confirmed by the Congressional Research Service on December 17.

Since what the treasury secretary does with the ESF “may not be reviewed by another officer or employee of the government” according to its dodgy statute, the public has no idea as to what Mnuchin actually did with the balance of $340 billion in his slush fund from the CARES Act.

While there has been widespread media attention to Toomey’s effort to kneecap the Fed’s emergency lending programs by inserting language into the stimulus bill, there has been no mainstream media attention to Toomey’s effort to memorialize both Mnuchin’s and (potentially) future treasury secretaries’ ability to have a slush fund to intervene in markets. The Treasury Secretary has, effectively, become a Plunge Protection Team of one. …

Is manipulating markets by a single, unelected official something that American taxpayers really want to be funding? …

… For the remainder of the report:

https://wallstreetonparade.com/2020/12/the-language-toomey-inserted-into…

iii) Other physical stories:

An excellent commentary…

(courtesy Steve Brown)

The Bigger Picture

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.

Dawn Giel | Dan Mangan

Published 3:33 PM ET Tue, 20 Nov 2018 Updated 10:32 AM ET Wed, 21 Nov 2018CNBC.com

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.

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

Submitted by cpowell on Tue, 2019-03-05 14:40. Section: Daily Dispatches

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

…

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

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

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

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

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

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

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

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

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

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

* * *

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

i) Chinese yuan vs USA dollar/CLOSEDUP AT 6.5410 / /

//OFFSHORE YUAN: 6.5387 /shanghai bourse CLOSED DOWN 63.79 PTS OR 1.86%

HANG SANG CLOSED DOWN 187.43 PTS OR .71%

2. Nikkei closed DOWN 278.03 POINTS OR 1.04%

3. Europe stocks OPENED ALL GREEN/

USA dollar index UP TO 90.07/Euro FALLS TO 1.1718

3b Japan 10 year bond yield: FALLS TO. +.01/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 103.34/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST BELOW 17,000

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

3e WTI:: 47.42 and Brent: 50.51

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

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

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

3h Oil 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 -.57%/Italian 10 yr bond yield UP to 0.59% /SPAIN 10 YR BOND YIELD UP TO 0.07%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.17: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.66

3k Gold at $1874.00 silver at: 25.86 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 62/100 in roubles/dollar) 75.33

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 103.34 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning .8851 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0841 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 –0.57%

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 0.936% early this morning. Thirty year rate at 1.672%

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

6. TURKISH LIRA: UP TO 7.63..

Futures Rebound As Stimulus Optimism Trumps Mutant Virus Gloom

S&P futures erases their drop to trade 0.3% higher as of 730 a.m. ET, tracking gains for shares across European markets, which reversed an earlier Asian loss. Emini futures fell as much as 0.6% earlier despite the successful passage of the covid relief bill late on Monday in both the House and the Senate. The S&P dropped 0.4% on Monday as optimism over the $900BN Covid-19 relief bill was offset by the emergence of a mutant variant of the virus and a frenzy of lockdowns and travel curbs to contain it.

Nasdaq 100 futures outperformed the S&P 500 after U.S. lawmakers cleared a $2.3 trillion year-end spending bill and stimulus package yesterday, which now passes to President Donald Trump to sign. Treasuries and the dollar pared an earlier advance. The stimulus package, the first congressionally approved aid since April, comes as the pandemic accelerated in the United States, slowing the economic recovery.

Tuesday’s rebound follows a scare on Monday as countries across the world shut their borders to the UK because of fears over the new variant of the disease, snarling one of Europe’s most important trade routes just days before Britain is set to leave the European Union. A full lockdown came into force in London and southeast England. Europe and regions from Canada to Hong Kong have suspended travel links to the island nation, piling pressure onto the government as it tries to salvage a free-trade agreement with the European Union.

The discovery of the new strain, just months before vaccines are expected to be widely available, renewed fears about the economic impact of new lockdowns to curb the virus that has killed about 1.7 million people worldwide. In response, European shares slumped to their biggest one-day loss in nearly two months on Monday but the sentiment reversed on Tuesday after traders said Tuesday they assumed vaccines would still be effective against the new strain.

The new strain “is a bump in the road, but that road is still leading to a much stronger recovery in the second half of next year,” said Hugh Gimber of J.P. Morgan Asset Management. “Markets are a lot calmer today because of confidence that there is a big build up of pent-up demand and a return to much stronger levels of activity in the second half of next year.”

Not everyone is as cheerful, and as Bloomberg notes the global rally is looking increasingly fragile after equities touched a record high last week, as lockdowns and rising virus cases threaten to overshadow U.S. pandemic relief and the initial rollout of vaccines.

“The agreed fiscal relief package will undoubtedly help mitigate some of the negatives but unfortunately, it won’t be able to fully offset the effects of people staying at home as many businesses face tighter restrictions or are even forced to close,” according to James Knightley, chief international economist at ING Groep.

In Europe, stocks rebounded from their steepest slump in almost two months Monday, with all but one industry group in the green. The broad Euro STOXX 600 gained 0.8%, on course for its biggest one-day jump in over five weeks. German and French indexes both added 1.3%. London’s blue chips turned positive, too, recovering early losses even as Britain adjusts to strict lockdowns imposed to curb the spread of the new strain of coronavirus. They were last up 0.3% British Airways owner IAG SA surged as much as 5.5% as travel shares bounced back. Crude oil edged lower for a second day.

Earlier, MSCI’s index of Asia Pacific shares ex Japan fell 0.8%, dragged down by Hong Kong’s Hang Seng Index and China’s benchmark CSI300 Index Asian stocks were headed for their first three-day slide since October. All industry groups were in the red, with materials and energy leading declines. Indonesia’s benchmark slumped 2.3%. President Joko Widodo announced a revamped cabinet as the government fights Southeast Asia’s worst coronavirus outbreak. Main indexes in China, South Korea and Japan also fell by more than 1.5%. Taiwan’s benchmark slid after a report of the island’s first locally-transmitted infection since April. India’s major gauges swung to gains after slumping about 3% on Monday. Thailand’s SET Index also rebounded from a 5.4% plunge the previous day, its worst since March. New Zealand’s key stock gauge was the strongest performer in the region, rising 1.9%, driven by a rebound in a2 Milk.

In FX, the stimulus news helped prop up the dollar index, which was on course for a third consecutive quarterly loss and had dropped some 12.5% from a March peak. The dollar advanced as thin liquidity and haven demand continued to dominate moves in FX and fixed-income markets against a backdrop of Brexit uncertainty. The Bloomberg Dollar Spot Index rose a third day as the greenback advanced versus most Group-of-10 peers, though trading ranges were tighter than yesterday; the euro slipped, nearing $1.22

Sterling was down 0.2%, after tumbling as much as 2.5% versus the dollar on Monday to a 10-day low as currency traders weighed twin fears over COVID and Brexit. It slumped just around 5am ET when the EU rebuffed Prime Minister Boris Johnson’s latest concessions on fishing rights, keeping the pound lower. Analysts remain pessimistic on the pound’s prospects, even after it recovered on Monday some of its losses on media reports of progress in Brexit trade negotiations. MUFG said in a note to clients it expected London and Brussels would strike a last-minute deal, but added: “Even if a trade deal is reached, upside potential for the pound will now be dampened by recent negative COVID developments in the UK.”

In commodities, oil prices dropped on expectations of lower demand, with Brent 1.6% lower at $50.09; gold was roughly unchanged last trading at $1874.

Looking at today’s calendar, we get the second revision to Q3 GDP as well as the November existing home sales report. CarMax is reporting earnings

Market Snapshot

S&P 500 futures little changed at 3,688.25
MXAP down 1% to 193.71
MXAPJ down 0.8% to 640.28
Nikkei down 1% to 26,436.39
Topix down 1.6% to 1,761.12
Hang Seng Index down 0.7% to 26,119.25
Shanghai Composite down 1.9% to 3,356.78
Sensex up 0.9% to 45,946.95
Australia S&P/ASX 200 down 1.1% to 6,599.57
Kospi down 1.6% to 2,733.68
Stoxx Europe 600 up 1% to 390.48
German 10Y yield fell 0.9 bps to -0.589%
Euro down 0.2% to $1.2215
Italian 10Y yield rose 0.3 bps to 0.458%
Spanish 10Y yield fell 0.7 bps to 0.049%
Brent futures down 1.1% to $50.37/bbl
Gold spot down 0.3% to $1,871.26
U.S. Dollar Index up 0.2% to 90.26

Top Overnight News from Bloomberg

The European Union rejected Britain’s latest concessions on fishing, dealing a setback to efforts for a post-Brexit trade deal. On Monday, the U.K. made an offer that would see value of the fish the EU catches in British waters shrink by 30%, according to people familiar with the discussions. Last week, Britain insisted the EU accept a 60% cut, but the bloc has refused to accept a reduction of more than 25%
British Prime Minister Boris Johnson’s government is desperately trying to re- open trade routes to France after a day of cross-Channel political bartering failed to end the chaos at the U.K.’s busiest port
U.K. government borrowing climbed to a record 240.9 billion pounds ($323 billion) in the first eight months of the fiscal year, reflecting the damage inflicted on an economy now at risk of falling back into recession
Systems at the U.S. Treasury Department used by senior officials were accessed by hackers in a widespread cyberattack on federal agencies, according to Senator Ron Wyden
Pfizer Inc. partner BioNTech SE is pursuing all its options to make more Covid-19 vaccine doses than the 1.3 billion the companies have promised to produce next year, according to the German company’s chief executive officer

Quick look at global markets courtesy of Newsquawk

Asian equities saw a subdued session following a somewhat mixed Wall Street handover, after the S&P 500 and Nasdaq ended the session well off lows and the Dow eked mild gains. Meanwhile, Tesla shed 6.5% on its S&P debut, with some of the losses emanating from source reports that Apple is looking at electric vehicle production as early as 2024 which could also have its own novel “monocell” battery tech. US equity futures meanwhile drifted lower as markets awaited the State-side COVID relief and government funding package to make its way through Congress. Back to APAC, the overall sentiment was lacklustre, with losses in the ASX 200 (-1.1%) led by the basic resources and energy sectors, whilst upside for the Nikkei 225 (-0.6%) was hampered by recent JPY-dynamics. South Korea’s KOSPI (-0.5%) held onto losses as the rising COVID case count in the country surfaced reports of tourist location closures in a bid to stem the spread. Elsewhere, Hang Seng (-0.3%) and Shanghai Comp. (-0.2%) conformed to the losses across the region and as tensions with Washington brew in the background, with the Trump admin poised to publish a list of 103 Chinese and Russian companies with alleged military ties, whilst Secretary of State Pompeo announced additional restrictions on visas for officials of the Chinese Communist Party linked to human rights violations. Finally, 10yr JGB futures are flat as it tracks similar price action in UST futures.

Top Asian News

Israel Government Collapse Looms After Budget Delay Rejected
Japan Stocks Fall as Coronavirus Worries Grow at Home and Abroad
World’s Longest Virus-Free Streak Ends With New Taiwan Case
Hang Seng Proposes Sweeping Overhaul to Hong Kong Stock Index

European equities (Eurostoxx 50 +1.0%) have extended on opening gains in a retracement of some of yesterday’s heavy losses. From a European perspective, markets await updates from the EU negotiator on Brexit discussions after talks of a compromise on fisheries last night were rebuffed by the EU side and further sources on the matter this morning seemingly keeping the prospect of an agreement alive. Across the pond in the US, futures are relatively unchanged, with a slight positive bias, as the widely-expected news that Congress has approved the spending bill and COVID relief package has been unable to bolster sentiment. All major sectors in Europe trade higher with outperformance seen in banks, retail and tech names, whilst telecoms and basic resources post more modest gains. The underperformance of the latter has acted as a headwind for the FTSE 100 (+0.1%) which lags peers after yesterday’s relatively outperformance. Additionally, index-heavyweight AstraZeneca (-1.3%) are softer on the session after its 48-week Phase III trial of Tezepelumab did not meet its primary endpoint. Airline names such as Air France (+4.3%), easyJet (+3.7%) and IAG (+4.1%) have been granted some reprieve, albeit concerns continue to linger around the sector after Germany announced today that it has extended its ban for travellers from Britain until January 6th in an attempt to stop the spread of the new COVID-19 strain. Asides from the above, corporate updates in Europe have been on the light side as markets wind down for Christmas. Stateside, the WSJ reports that Facebook and Google have agreed to team up against potential antitrust action.

Top European News

U.K. Firms Told to Protect Data Flows Amid Brexit Worry
Europe’s Embattled Banks Look to Mergers as Way Out of Malaise
JPM Banker Who Foresaw Nordic M&A Surge Says More to Come
JPMorgan Expects Further Downside in Small and Mid-Cap Stocks

In FX, not much retail therapy for the Aussie, even though the lifting of restrictions and lockdown in the state of Victoria boosted consumption last month, as Aud/Usd topped out ahead of 0.7600 and is now hovering around 0.7550. However, favourable crosswinds are keeping Aud/Nzd underpinned around 1.0700 as the Kiwi fades from just above 0.7100 vs its US counterpart towards 0.7050.

USD – Antipodean peers aside, the Buck is flat to firmer across the G10 board after unwinding the bulk of its safe-haven gains over the course of Monday’s whipsaw session and the DXY finding underlying bids into 90.000, but trading conditions are getting increasingly thin and rangy beyond the few major exceptions like Sterling on Brexit and new virus strain dynamics. Nevertheless, the index is holding within a narrow 90.366-079 band for now and awaiting several US data points including final Q3 GDP, existing home sales and the more forward-looking Richmond Fed survey.
EUR/CAD/GBP/CHF/JPY – The Euro is attempting to consolidate on the 1.2200 handle vs the Greenback after yesterday’s swoon below the round number and through technical support, with decent option expiry interest adding more layers of support given 2.3 bn at the strike and a further 1.1 bn at 1.2150. Meanwhile, the Loonie is still keeping an eye on crude prices before more Canadian data, albeit rather stale today and tomorrow compared to Xmas Eve (October average earnings, monthly GDP and November building permits respectively). Elsewhere, the Pound has regained a bit more composure following its extremely volatile start to the week, with Cable back above 1.3400 and Eur/Gbp pivoting 0.9100 after UK PM Johnson’s fishing concession and talks between himself and French President Macron aimed at unblocking the cargo route between Britain and France. However, reports that the latest offer on fisheries will be rejected by the EU did spark another bout of selling in Sterling – albeit, this was somewhat short-lived given further sources from the EU on an acceptable quota reduction; in contrast to the Franc that is sitting tight just under 0.8850 and 1.0800 vs the Euro, in similar vein to the Yen keeping its head above 103.50, but likely to meet resistance at 103.00 in the form of 1.2 bn expiries.
SCANDI/EM – The Sek is still testing 10.1000 against the Eur irrespective of mixed Swedish retail sales data and sentiment surveys, while the Nok lags near 10.6000 alongside softer oil after an in line Norwegian LFS jobless rate, but the Rub continues to underperform on geopolitical factors as Russia retaliates to EU sanctions and warns that those imposed by the US will harm already strained relations between the 2 nations.

In commodities, WTI and Brent are hampered this morning with concern remaining on the demand-side implications of enhanced lockdown restrictions and the halting of flights to/from the UK and South Africa. Currently, the benchmarks are exhibiting losses in excess of 1.0% but are around USD 1.00/bbl from their session lows seen around the entrance of European participants this morning. Fundamentally, news explicitly for the complex has been very sparse and nothing has occurred which significantly changes the narrative thus far. In the session ahead the weekly private inventories will be published as normal, unaffected by the holiday period, and for reference last week the report showed a build of 1.97M in comparison to the week’s EIA equivalent which printed a draw of 3.135M. Moving to metals, spot gold and silver are currently in proximity to the U/C mark, in contrast to the sessions fairly broad range of USD 20/oz for gold, but still retains a slight negative bias given the USD’s continued modest strength.

US Event Calendar

8:30am: GDP Annualized QoQ, est. 33.1%, prior 33.1%
- 8:30am: Personal Consumption, est. 40.6%, prior 40.6%
- 8:30am: GDP Price Index, est. 3.6%, prior 3.6%
- 8:30am: Core PCE QoQ, est. 3.5%, prior 3.5%
10am: Conf. Board Consumer Confidence, est. 97, prior 96.1; Expectations, prior 89.5; Present Situation, prior 105.9
10am: Existing Home Sales, est. 6.7m, prior 6.85m; MoM, est. -2.19%, prior 4.3%
10am: Richmond Fed Manufact. Index, est. 10, prior 15

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT:

SHANGHAI CLOSED DOWN 63.79 PTS OR 1.86% //Hang Sang CLOSED DOWN 187.43 PTS OR .71% /The Nikkei closed DOWN 278.03 POINTS OR 1.04%//Australia’s all ordinaires CLOSED DOWN 1.08%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/

China internally is having its problems. It has now restricted electricity because of a coal shortage.

Kennedy Oil Price.com

China Restricts Electricity Use Amid Coal Shortage

By Charles Kennedy of OilPrice.com

Despite the swift industrial recovery from the pandemic, factories in areas in China are working only part-time, and residents in several provinces are asked to save electricity, while authorities are turning off street lights and billboards, warning of coal shortages this winter.

In at least three provinces in China, authorities have ordered limits on electricity use, saying there could be shortages of coal, The New York Times reports. At the same time, Chinese authorities vehemently deny that the potential shortages have had anything to do with the diplomatic spat with Australia, which has turned into a true energy trade war, with China banning imports of coal from one of its major suppliers (last week we reported that “China Endures Worsening Electricity Shortages In Name Of Punishing Australia“).

Still, China has admitted there is a problem with electricity supply in parts of the country, just ahead of the winter season when Chinese industrial activity has been recovering very well from the COVID-related economic slump earlier this year.

“At the moment, some provinces temporarily do not have enough electricity. This is an objective fact,” the NYT quoted the Chinese authority overseeing state-held firms as saying during the weekend.

As a result of the power shortages with a reduced supply of thermal coal, some factories are cutting working hours and are operational only two or three days a week, while office workers in some cities have had to climb 20 flights of stairs to reach their workplaces because elevators have been shut down to save electricity.

“We are not living a normal life when our factory can only work two days a week and the streets are dark at night,” Mike Li, who owns a plastic flower factory in the city of Yiwu, eastern China, told the Financial Times.

Despite the fact that the Chinese government denies that the spat with Australia is responsible for coal shortages and electricity rationing, an official at state-owned power producer China Huadian Corporation told FT that many local power plants depend on Australian coal and scramble to source alternative supply.

“Politics come first,” the official told FT, adding that the company doesn’t see China relaxing import control just because it is causing trouble.

4/EUROPEAN AFFAIRS

It looks like the variant in the virus is terribly overblown. The mutation is making transmission into the body easier but generally these are less deadly. The channel crossing is a key for British to receive fresh vegetables and fruit. French truck drivers are willing to enter England only on the condition that they can come back to France.

(Zhang/EpochTimes)

UK Retailers Urge Government To Ensure Food Supplies As French Border Shut

Authored by Alexander Zhang via The Epoch Times,

British retailers have urged the government to make an urgent effort to prevent prolonged suspension of cross-Channel transport, which they say would disrupt supplies of fresh produce to UK consumers.

To prevent the spread of a new, more transmissible variant of the CCP (Chinese Communist Party) virus from the UK, the French government suspended all travel from the UK for 48 hours from 11 p.m. on Sunday night (midnight Paris time), including travel linked to goods transport by road, air, sea, or rail.

Sainsbury’s, one of the UK’s biggest supermarkets, urged the UK and French governments to work together to ensure food supplies to the UK market over the Christmas holidays.

It said it had plenty of food items in stock for Christmas, and was also sourcing products in the UK and looking into alternative transport for products sourced from Europe.

However, “if nothing changes, we will start to see gaps over the coming days on lettuce, some salad leaves, cauliflowers, broccoli and citrus fruit—all of which are imported from the Continent at this time of year,” it said in a statement emailed to The Epoch Times.

“We hope the UK and French governments can come to a mutually agreeable solution that prioritises the immediate passage of produce and any other food at the ports.”

UK business groups have also raised concerns to the government.

The British Retail Consortium (BRC) said the border closure “poses difficulties for UK capacity to import and export key goods during the busy Christmas period.”

“While goods can enter from France, few haulage firms will be willing to send trucks and drivers across to the UK without a guarantee they can return to the EU in a timely manner,” Andrew Opie, director of food and sustainability at the BRC, said in a statement.

“This is a key supply route for fresh produce at this time of year: the channel crossings see 10,000 trucks passing daily during peak periods such as in the run-up to Christmas,” he said. “We urge the UK government and the EU to find a pragmatic solution to this as soon as possible, to prevent disruption for consumers.”

The Food and Drink Federation (FDF), the UK’s representative body for the food and beverage manufacturing sector, said that the suspension of traffic could cause serious disruption to UK Christmas fresh food supplies as truckers from continental Europe “will not want to travel here if they have a real fear of getting marooned.”

In a thread on Twitter, Ian Wright, the chief executive of the FDF, urged the UK government to “urgently persuade the French government to exempt accompanied freight from its ban.”

Talking to the BBC on Monday morning, UK Transport Secretary Grant Shapps said he was working with his French counterpart to resolve the blockade.

“The shops are well stocked. So in the short term, the next 48 hours or so, this is not an issue in terms of supply, but we’re very, very keen to get it resolved,” he told BBC Radio 4’s “Today” programme.

END

CORONAVIRUS UPDATE GREAT BRITAIN/EUROPE/GLOBE

UK Mostly Cut Off From Europe Over Mutation Fears; US COVID Deaths Hit New Record: Live Updates

Summary:

France allows truckers from UK with negative COVID test
US 7-day deaths average hits new record
EU calls on members to continue freight trade with UK
Public health official warns “only matter of time” before mutation arrives in Germany
Hungary sees lowest tally of new cases in 2 months
Ireland expect to impose holiday lockdown

* * *

Boris Johnson managed to keep his promise to the British people, and on Tuesday morning, the French lifted restrictions on British travelers and truckers – with one important catch: to cross into France, truckers and travelers must provide a recent negative test for COVID-19 taken during the last three days.

The US, meanwhile, is reportedly considering whether to impose travel restrictions, though we suspect these leaked reports are merely a response to Gov. Cuomo’s demands that all British travelers arriving at JFK be tested for COVID.

In other news during what many are hoping will be a quiet, holiday-shortened week in the US, we have some major news out of Taiwan, which has just recorded its first case of COVID-19 in more than eight months, ending the world’s longest-stretch without a domestic infection. Late last month, Vietnam snapped a nearly 3-month streak. Both countries have been models for the international community, as other countries in the region – including Thailand, South Korea and Australia – have been unable to keep a lid on outbreaks.

As the world continues to worry about the mutated virus purportedly discovered in southern England and a few other areas around the globe, the EU has called on all its member states to at least reopen freight links with the UK.

Hospitalizations continued to climb across the US, while the number of new cases reported has declined for a second day.

But deaths nationwide are reaching new record daily tallies, with the 7-day average at a record 2.6K.

For months, scientists have been warning that the virus hasn’t seen any notable mutations. But in yet another example of how our understanding of the vaccine can change at the drop of a hat, the world is now panicking about a mutation found in southern England and a handful of other places, which scientists fear could be as much as 70% more infectious than the ‘original’ COVID-19.

Elsewhere in Europe, the Netherlands has just joined Stockholm in placing all non-urgent health care on hold to allow hospitals to better care for the crush of Covid patients, as some are even being transferred to neighboring Germany. Speaking of Germany, Robert Koch Institute President Lothar Wieler said that while the variant hasn’t yet been identified in Europe’s biggest economy, it’s only a matter of time. The country has already banned travelers from England and Northern Ireland, as well as South Africa.

“I would estimate that the likelihood that it’s already in Germany but not yet detected is very, very high,” Wieler said.

Here’s some more COVID news from overnigth and Tuesday morning:

Switzerland is trying to locate about 10,000 Britons who entered the country after Dec. 14 and must now quarantine for 10 days after the Alpine nation blocked borders for tourists coming from the U.K., according to Swiss newspaper Tages Anzeiger. The government will use passenger logs for about 92 flights to track down the visitors, many of whom traveled to ski resorts in southwestern Switzerland.
Hungary registered 1,238 new infections, the lowest daily tally in two months, according to official data released Tuesday. The number of deaths remained near record highs at 180, and infection figures have often been skewed by a low rate of testing.
Ireland is expected to close pubs and restaurants from Dec. 24 in an effort to contain the spread of the coronavirus, state broadcaster RTE reported.

* * *

Finally, BioNTech’s CEO said Monday evening that it is pursuing all its options to produce more vaccine doses than the 1.3BN the companies had promised to produce next year.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

Iran/Iraq USA

The USA has been bombarded with rocket attacks into Baghadad’s Greenzone fired by unknown militants with probable affiliation to Iran. The Pentagon has threatened Iran to stop or else

(zerohedge)

Pentagon Threatens Iran As Region Braces For 1-Year Anniversary Of Soleimani Killing

On the same day the US embassy in Baghdad’s Green Zone came under attack by a hail of eight rockets fired by unknown militants, the United States threatened Iran with military action should it decide to pursue any future retaliation for the US killing of IRGC Gen. Qassem Soleimani last January.

Sunday’s attack, widely believed the have been the work of Iran-backed Shia militia or an allied group, triggered the embassy’s counter-rocket defense system and resulted in at least one Iraqi civilian death and limited damage to the embassy complex.

General Kenneth McKenzie, who heads the US Central Command (CENTCOM), is currently touring the region ahead of the anniversary of the Jan.3 killing of Soleimani. The trip was unannounced and is being widely interpreted as sending a strong “message” to leaders in Tehran.

*CENTCOM Commander Gen. Kenneth F. McKenzie Jr.*

“We are prepared to defend ourselves, our friends and partners in the region, and we’re prepared to react if necessary,” Gen. McKenzie told journalists.

“My assessment is we are in a very good position and we’ll be prepared for anything the Iranians or their proxies acting for them might choose to do,” the four-star Marine general said further at an undisclosed location in the region.

McKenzie further explained that even amid the continuing White House ordered troop draw downs from Afghanistan and Iran – at 2,500 each country – the Pentagon is making preparations toward greater readiness ahead of Jan. 3.

It’s now emerging that Sunday’s attack included a direct hit on the embassy compound, resulting in damage.

Days after the Soleimani assassination the region was on the edge of war, also given Iran responded by launching multiple ballistic missiles on American bases in Iraq, which the Pentagon at first claimed resulted in no casualties, though later it was revealed troops suffered widespread concussions from the missile attack, dubbed Traumatic Brain Injury.

At the very least, mass anti-American protests are expected both in Iran and Iraq, likely outside of the Green Zone near the US Embassy. The Pentagon and State Department have signaled they are making full preparations to beef up security ahead of the first week of January.

end

6.Global Issues

7. OIL ISSUES

end

8 EMERGING MARKET ISSUES

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

Euro/USA 1.2248 UP .0013 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /GREEN

USA/JAPAN YEN 103.34 UP 0.050 (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 1.3427 UP 0.0047 (Brexit jAN 1/2021/ARTICLE 50 SIGNED

USA/CAN 1.2861 UP .0008 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS TUESDAY morning in Europe, the Euro ROSE BY 13 basis points, trading now ABOVE the important 1.08 level RISING to 1.2248 Last night Shanghai COMPOSITE DOWN 63.79 PTS OR 1.86%

//Hang Sang CLOSED DOWN 187.43 PTS OR .71%

/AUSTRALIA CLOSED DOWN 1,08%// EUROPEAN BOURSES ALL GREEN

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 187.43 PTS OR .71%

/SHANGHAI CLOSED DOWN 63.79 pts or 1.86%

Australia BOURSE CLOSED DOWN 1.08%

Nikkei (Japan) CLOSED DOWN 278.03 POINTS OR 1.04%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1873.60

silver:$25.87-

Early TUESDAY morning USA 10 year bond yield: 0.936% !!! DOWN 0 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.672 DOWN 0 IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 90.07 UP 03 CENT(S) from MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

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And now your closing TUESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.03% DOWN 3 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: 0.05%//DOWN 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.55 DOWN 2 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 50 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.60% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.15% AND NOW ABOVE THE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.2168 DOWN .0067 or 67 basis points

USA/Japan: 103.30 DOWN .313 OR YEN down 31 basis points/

Great Britain/USA 1.3330 down .01158 POUND UP 116 BASIS POINTS)

Canadian dollar DOWN 77 basis points to 1.2929

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The USA/Yuan, CNY: closed up 6.5433 ON SHORE (up)..

THE USA/YUAN OFFSHORE: 6.5423 (YUAN up)..

TURKISH LIRA: 7.63 EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield at +0.01%

Your closing 10 yr US bond yield down 1 IN basis points from MONDAY at 0.923 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.656 down 2 in basis points on the day

Your closing USA dollar index, 90.66 up 62 CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 36.84 057%

German Dax : CLOSED UP 171.81 POINTS OR 1.32%

Paris Cac CLOSED UP 73.52 POINTS 1.36%

Spain IBEX CLOSED UP 145.10 POINTS or 1.86%

Italian MIB: CLOSED UP 433.82 POINTS OR 2.03%

WTI Oil price; 37.40 12:00 PM EST

Brent Oil: 39.75 12:00 EST

USA /RUSSIAN / RUBLE FALLS: 75.65 THE CROSS HIGHER BY 0.93 RUBLES/DOLLAR (RUBLE LOWER BY 93 BASIS PTS)

TODAY THE GERMAN YIELD FALLS TO –.60 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 : 46.91//

BRENT : 49.95

USA 10 YR BOND YIELD: … 0.921..down 2 basis points…

USA 30 YR BOND YIELD: 1.655 down 2 basis points..

EURO/USA 1.2163 ( DOWN 72 BASIS POINTS)

USA/JAPANESE YEN:103.60 UP .261 (YEN DOWN 26 BASIS POINTS/..

USA DOLLAR INDEX: 90.64 UP 60 cent(s)/

The British pound at 4 pm Britain Pound/USA:1.3361 DOWN 85 POINTS

the Turkish lira close: 7.66

the Russian rouble 75.95 DOWN 1.24 Roubles against the uSA dollar. (DOWN 124 BASIS POINTS)

Canadian dollar: 1.2905 DOWN 52 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.60%

The Dow closed DOWN 200.94 POINTS OR 0.67%

NASDAQ closed UP 65.40 POINTS OR 0.51%

VOLATILITY INDEX: 24.22 CLOSED DOWN .94

LIBOR 3 MONTH DURATION: 0.245%//libor dropping like a stone

USA trading today in Graph Form

Short Squeeze Sparks Small Caps Surge But Big Banks Drag Down Dow

With consumer confidence tumbling to 4-month lows, weak housing data, and don’t forget America (as Biden said today): “our darkest days in the battle against COVID are ahead of us!!!”

So.. buy small cap stocks with both hands and feet!! (and sell everything else)…

All thanks to yet another epic short-squeeze…

Source: Bloomberg

Small Caps (Russell 2000) outperformed Big Caps (Dow) by the most since July today, pushing the Russell to its strongest relative to the Dow since September 2018…

Source: Bloomberg

Dow tested 30k once again…

Bank stocks retreated further today, unwinding more of the Stress-Test-based buyback-enabling jump from Friday night…

Source: Bloomberg

Tech was best today as Energy stocks sank… again…

Source: Bloomberg

Bonds were bid today with the long-end yields down around 2bps…

Source: Bloomberg

10Y Yields have been trading in a very tight range for pretty much all of December…

Source: Bloomberg

The dollar managed gains after yesterday’s chaotic roller-coaster…

Source: Bloomberg

Ripple was routed in the last couple of days as the company faces an SEC lawsuit, Bitcoin dipped early but ended higher…

Source: Bloomberg

Gold faded more today…

Silver was slammed more…

WTI fell back below $47 ahead of tonight’s API inventory data…

Finally, real yields continues to collapse, suggesting upside for gold…

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

Existing Home Sales Tumble For First Time Since May, Prices Hit Record Highs

After a big surprise jump in October, existing home sales were expected to drop MoM in November (as homebuilder sentiment rolled over from record highs) after 5 straight months higher and sales did slump – more than expected.

Existing Home Sales fell 2.5% MoM (worse than the 2.2% drop expected) and the first MoM drop since May and the YoY surge in sales is starting to slow…

Source: Bloomberg

“Housing affordability, which had greatly benefitted from falling mortgage rates, are now being challenged due to record-high home prices,” Lawrence Yun, NAR’s chief economist, said in a statement.

“That could place strain on some potential consumers, particularly first-time buyers.”

This pushed the SAAR down to 6.69mm from 6.86mm in October.

Perhaps the slowdown is due to the fact that the median selling price jumped 14.6% from a year earlier on an unadjusted basis to $310,800, the fourth straight month of double-digit increases.

Consumer Confidence Crashes In December As Labor Market Lurches Lower

Despite a plague of lockdowns as COVID’s casedemic re-emerged, analysts believed that consumer confidence would rebound modestly in December after ‘hope’ dragged it down in November, but instead it collapsed.

Headline Conference Board Confidence plunged from 96.1 (which was downwardly revised to 92.9) to 88.6 (a big miss from the 97.0 exp).

Source: Bloomberg

Hope improved very marginally (but only because October’s data saw a huge downward revision) while Current Conditions plunged from 105.9 to 90.3.

“Consumers’ assessment of current conditions deteriorated sharply in December, as the resurgence of COVID-19 remains a drag on confidence,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.

“As a result, consumers’ vacation intentions, which had notably improved in October, have retreated. On the flip side, as consumers continue to hunker down at home, intentions to purchase appliances have risen. Overall, it appears that growth has weakened further in Q4, and consumers do not foresee the economy gaining any significant momentum in early 2021.”

Most worrisome is the the fact that the labor differential index tumbled back into the red (indicating jobs are harder to get)…

And that is impacting spending expectations as vacation plans are abandoned…

Will the $600 checks make a difference? Or are the lockdowns catalyzing permanent change?

iii) Important USA Economic Stories

Open letter to the President from Stewart Rhodes to the President

(Stewart Rhodes/NEWS)

Open Letter to President Trump: You Must Use Insurrection Act to “Stop the Steal” and Defeat the Coup

December 14, 2020
Stewart Rhodes

“The time is now near at hand which must probably determine whether Americans are to be freemen or slaves; whether they are to have any property they can call their own; whether their houses and farms are to be pillaged and destroyed, and themselves consigned to a state of wretchedness from which no human efforts will deliver them. The fate of unborn millions will now depend, under God, on the courage and conduct of this army. Our cruel and unrelenting enemy leaves us only the choice of brave resistance, or the most abject submission. We have, therefore, to resolve to conquer or die.” – General George Washington, Address to the Continental Army Before the Battle of Long Island, August 27, 1776

President Trump,

We now face a moment of peril as great, or greater, as what General Washington and his men faced in 1776. The very survival of our nation as a free Constitutional Republic hangs in the balance. We have but one last chance to save it. The fate of unborn millions will now depend on your conduct, the conduct of the current members of our armed forces, and the conduct of we the many millions of American veterans and patriots who are still loyal to our Constitution.

When you were sworn in, you took the following oath, as mandated by Article II of the Constitution:

“I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States.”

It’s time to honor that oath by defending the Constitution against all enemies, foreign and domestic.

This is your moment of destiny. Will you take your place in history as the savior of our Republic, right up there with President Washington and Lincoln? Or will you fail to act, while you still can, and leave office on January 20, 2021, leaving We the People to fight a desperate revolution/civil war against an illegitimate usurper and his Chicom puppet regime?

Here are the facts:

We are already at war with communist China and its willing American agents, puppets, and co-conspirators who seek to overthrow our Constitution, as well as the international elites and other foreign enemies who have aided and abetted this war on our nation. They have infiltrated and taken over every branch of government at every level, state and federal. War isn’t coming – war is already here.

Communist China could never defeat us in open battle, so instead, it infiltrated and subverted our institutions, bought and blackmailed American elites, and made allegiance with willing domestic enemies of our Constitution, to defeat us from the inside out, without having to fire a shot, by using what is commonly referred to as “Fourth Generation Warfare” doctrines and methods. This is war by other means, but it is war nonetheless.

Through well-orchestrated mass vote fraud, the Communist Chinese and their domestic enemy allies are about to install their illegitimate puppet, Joe Biden, and his equally illegitimate puppet running mate, Kamala Harris, into the White House, with their treasonous fingers on the nuclear launch codes.

You must act NOW as a wartime President, pursuant to your oath to defend the Constitution, which is very similar to the oath all of us veterans swore. We are already in a fight. It’s better to wage it with you as Commander-in-Chief than to have you comply with a fraudulent election, leave office, and leave the White House in the hands of illegitimate usurpers and Chinese puppets. Please don’t do it. Do NOT concede, and do NOT wait until January 20, 2021. Strike now.

If you fail to act while you are still in office, we the people will have to fight a bloody civil war and revolution against these two illegitimate Communist China puppets, and their illegitimate regime, with all of the powers of the deep state behind them, with nominal command of all the might of our armed forces (though we fully expect many units or entire branches to refuse their orders and to fight against them) and with their foreign allies also joining in to assist in the suppression of American patriots.

Without clean elections, we no longer have a Republic, and you are charged by the Constitution with preserving a republican form of government wherein the people actually elect their own representatives in clean elections. Article IV, Section 4 of the U.S. Constitution clearly commands you in this, when it states:

“The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion.”

“Shall” is command language. And that command applies to all three branches of the federal government, including the executive branch which you run. And that command applies directly to you. You are commanded by the Constitution to take whatever action you must to ensure that we have a Republican form of Government – and that means clean elections. In the current dire circumstances where complicit traitors have been put into place in every branch of government (legislative, executive, judicial) at every level (local, state, federal), through fraudulent elections over many years, it means YOU will have to fix it, with the full support of loyal military service members and millions of military and police veterans, as well as millions of patriotic average Americans who stand with you 100% in doing what must be done.

It won’t be fixed by corrupted legislatures, Governors, or the courts. The recent refusal by all but two of the Supreme Court Justices (including all of your own Supreme Court picks) to hear the Texas election fraud case shows that the cancer of cowardice, compromised officials, and treason has spread even to the Supreme Court. The disclosures of the corruption and blackmailing of Hunter Biden and the corruption of Rep. Swalwell by a Communist Chinese Spy, as well as the blackmail ring run by Jeffery Epstein, are the tip of the iceberg in how the deep state and its Chicom allies have taken over our establishment elites.

That corrupted establishment won’t fix it, but We the People shall, one way or another and we need you to lead us in this great battle to save our Republic.

Further, the US Constitution states in Article I, Section 8 that Congress has the power:

To provide for calling forth the militia to execute the laws of the union, suppress insurrections and repel invasions

Congress long ago provided for just that by passing the Insurrection Act which delegates that decision and power to you, as President and Commander-in-Chief.

The Insurrection Act, 1o U.S. Code, Section 252- Use of militia and armed forces to enforce Federal authority, states:

Whenever the President considers that unlawful obstructions, combinations, or assemblages, or rebellion against the authority of the United States, make it impracticable to enforce the laws of the United States in any State by the ordinary course of judicial proceedings, he may call into Federal service such of the militia of any State, and use such of the armed forces, as he considers necessary to enforce those laws or to suppress the rebellion.

Section 253 of the Insurrection Act then states:

The President, by using the militia or the armed forces, or both, or by any other means, shall take such measures as he considers necessary to suppress, in a State, any insurrection, domestic violence, unlawful combination, or conspiracy, if it—

(1)

so hinders the execution of the laws of that State, and of the United States within the State, that any part or class of its people is deprived of a right, privilege, immunity, or protection named in the Constitution and secured by law, and the constituted authorities of that State are unable, fail, or refuse to protect that right, privilege, or immunity, or to give that protection;

(2) opposes or obstructs the execution of the laws of the United States or impedes the course of justice under those laws.

In any situation covered by clause (1), the State shall be considered to have denied the equal protection of the laws secured by the Constitution.

Section 254 then states:

Whenever the President considers it necessary to use the militia or the armed forces under this chapter, he shall, by proclamation, immediately order the insurgents to disperse and retire peaceably to their abodes within a limited time.

Clearly an unlawful combination and conspiracy in multiple states (indeed, in every state) has acted to deprive the people of the fundamental right to vote for their representatives in a clean, fair election as is required in a free nation, striking at the very heart of what it means to have a republican form of government, and disenfranchising them. You, and you alone, are fully authorized by the Insurrection Act to determine that such a situation exists, and to use the U.S. military and the militia to rectify that situation. And the militia includes not only the National Guard units of each state, called into federal service, but also includes the body of the people, age 17-45, and especially us military veterans, who are by federal statute subject to call up for service as the militia until age 65, due to our prior training and experience.

As Article II declares, “The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States.” You must call us up, and command us.

We urge you to do the following simultaneously as both the chief law enforcement officer of the nation, and as the commander in Chief:

INVOKE THE INSURRECTION ACT: Issue a Presidential Proclamation, directly invoking the Insurrection Act, declaring an insurrection, rebellion, and coup to be in effect by domestic enemies of the U.S. Constitution and traitors who are in collusion with and/or acting as agents of a foreign enemy (specifically Communist China, but also other known or unknown foreign enemies) and to call up the militia (including the National Guard, us veterans, and patriotic Americans of military age) and US military to suppress the insurrection. That proclamation should declare that domestic traitors have conspired with a foreign enemy, specifically Communist China, and have been either bribed or blackmailed by that enemy, and together they have subverted our electoral system from top to bottom to rig elections at every level, and to steal elections with the intent of overthrowing our Constitution and our way of life.

A. Order the data seized: Pursuant to that proclamation, order SOCOM and other trusted military units, to seize all databases of the CIA, FBI, NSA, DNI, etc and the records held by all state electoral systems and administrators. And order them to take possession of and preserve all evidence of the insurrection/rebellion/coup wherever it is housed or held and to counter and suppress any attempt by the insurrectionists to prevent the seizing of the data.

B. Order a mass declassification of the dirty secrets: Order SOCOM Intelligence officers and other trusted and loyal patriot intelligence officers to carry out your orders to declassifying ALL the dirty secrets and evidence of crimes by all the corrupt and compromised elites (in both major parties) to expose them all, and especially to expose their treason and their willing service to communist china and other foreign powers, as spies, agents, and puppets. Of course, those loyal intelligence officers should not declassify and disclose data that could put at risk loyal American operatives and allies in foreign nations, who are on legitimate missions that are related to our legitimate national interests. Only disclose data on traitors and their treason.

C. Within all that data will be the evidence needed to expose the vote fraud and who is behind it, as well as expose all the corrupt judges, state Attorney Generals, governors, legislative leaders, election officials, etc.

D. Order a massive public “Wikileaks” style data-dump to put all the dirty secrets of the compromised elites on display to the American people. Those secrets are the very “swamp water” that the DC swamp creatures swim in. Those dirty secrets both control and shield them all. Throw the doors open, and dump all the skeletons out of the closets and onto the streets for all the people to see, and for all the world to see.

E. Pardon and free Julian Assange and ask him to assist in this massive data-dump public disclosure. He is a hero who has dedicated his life to battling the deep state and deserve our thanks and a chance to serve not just America, but all humanity by assisting in this great cause.

F. Fire Barr and removed him from office immediately (UPDATE: Barr has resigned, but needs removed immediately. Don’t let him run the clock out even a day more). The replacement should not come from within the beltway.

You must appoint a REAL patriot Attorney General who will actually fight and actually clean house. Look outside the beltway for a real patriot. We will help you find one who will actually fight for the Republic. This is a populist movement, and the people are still being locked out, which is why you keep getting betrayed over and over. Appoint REAL patriots who are outsiders.

E. Appoint a special prosecutor and task force. The new Attorney General should appoint a special prosecutor with a full task force to investigate and indict all those involved in the vote fraud and to go after the Deep State from top to bottom, including within the DOJ, prosecuting all traitors in all branches, and all levels, to root out all who are actively committing treason, and who have been compromised, blackmailed, or bought out by Communist China and/or other foreign enemies.

F. Fire Wray and put a patriot in place as FBI Director to clean house in the FBI and to actually do their jobs.

2. Order the U.S. Military to go to Defcon 2, or even Defcon 1, to defend our nation from external threats while we suppress this internal insurrection. It is imperative that we maintain strict control of our nuclear arsenal in patriot hands and that our armed forces stand ready to repel foreign attack and interference while we handle this necessarily drastic domestic house cleaning.

3. Call the militia into federal service. Pursuant to you powers as Commander-in-Chief to call forth the militia, call up all National Guard units into federal service, and likewise call up all military veterans up to age 65 into federal service as the militia to assist in keeping the peace here at home. Also call up all able-bodied Americans between the ages of 17-45 who are still loyal to the Constitution to likewise report for duty, bearing their own arms. You have the power to command them and order them to report for duty at their nearest military base or National Guard armory in their state. All of the above, as the militia, can be used to keep the peace in our local and state communities, under your direct command, to suppress the expected riots, terrorism, and armed insurrection by the radical left in the United States (who have been armed and equipped for months now by our foreign and domestic enemies).

3. CONDUCT A CLEAN ELECTION/CLEAN UP OUR CORRUPTED AND COMPROMISED ELECTION SYSTEM.

We will post advise on this shortly. Stay tuned. It is both simple, and very complex, given the advanced cancer of corruption in our voting system.

CONCLUSION: WE ARE IN FOR A FIGHT, NO MATTER WHAT. LET’S GET IT DONE WITH YOU AS COMMANDER IN CHIEF

There is no way out but through. And we will NOT submit to a Chicom puppet regime. You must stand tall and use your constitutional powers to fight this war against enemies foreign and domestic while you are still President and Commander-in-Chief. If you fail to do so, we the people will have to fight a bloody revolution/civil war to throw off an illegitimate deep state/Chinese puppet regime.

You must use both your authority to invoke the Insurrection Act and your absolute power to declassify any and all secrets.

Because of the machinations of the complicit mainstream media, most Americans are ignorant of just how corrupted and compromised the establishment has become. They have no idea how many political, legal, media, and business elites are now compromised puppets of Communist China with the aid of the deep state traitors within our own intelligence and federal law enforcement agencies. That is why you must use SOCOM and other loyal military units to do a mass data seizure, declassification, and mass data-dump to throw all the skeletons out into the streets, exposing all the dirty secrets that are used to control American elites, and show the American people all the evidence that will show them who is dirty, who is a traitor, and who is a criminal. This will destroy the credibility of the traitors and make it far easier to defeat them, with the people themselves being the judge, and with our military service-members also clearly seeing who has turned traitor and who must not be obeyed. It is critical. You must do both. Expose them all, and then bring them to justice.

Know this: millions of American military and law enforcement veterans, and many millions more loyal patriotic American gun owners stand ready to answer your call to arms, and to obey your orders to get this done.

For the Republic,

Stewart Rhodes

Yale Law 04, Army Airborne veteran

Kellye SoRelle

Texas attorney and former prosecutor

END

A must read..

Brandon Smith on what we must do to preserve our freedom…..a call to “arms”

(Brandon Smith)

The “New Confederacy”? Yes, It’s Time For Conservatives To Unite Against The Globalist Reset

Authored by Brandon Smith via Alt-Market.us,

The narrative could not be more transparent or obvious, but then again, the elites are becoming lazy in their propaganda and the leftists are not all that bright. Essentially, every time conservatives (or moderates) organize to defend themselves against communist or globalist attack we are called “Nazis”, brownshirts, populists, bullies, etc. Now, I would remind these people that if we were really going the path of the Sturmabteilung then there would be rampant intimidation and assault on leftists to the point that they would be afraid to leave their homes or even identify as leftists. Conservatives believe in self defense, not coercion and terror tactics.

Such actions are the wheelhouse of the political left these days. They are far better than we are at imitating Brownshirt behavior. The reality is that across the board the only people engaging in widespread censorship and violence are on the political left, yet we are supposed to be the “Nazis”?

Historically, there does seem to be a pattern here, though. In Germany in the 1920s-1930s communist groups were highly active and initiated street violence, riots and even assassinations. This lured many Germans in fear of being overtaken by a communist regime to support national socialism, the other side of the coin when it comes to tyranny. In other words, to defeat the communists the public supported the fascists, and the fascists ended up being just as bad as the communists.

If you study the investigations of historians like Antony Sutton in books like ‘Wall Street And The Bolshevik Revolution’ or ‘Wall Street And The Rise Of Hitler’, you will discover there is incredible evidence proving that BOTH the communists and the fascists were funded and managed by the same global elites. In other words, the bankers win either way because they control both sides of the game.

I do suspect that a similar strategy is being implemented within the US today, and that part of the agenda of globalists hellbent on getting their “great reset” is to foment civil war in America while controlling or manipulating both sides of the fight.

It is indeed a Catch-22 for conservatives:

If we roll over and do nothing, then the extreme left and their corporate and political partners take control of the country and we will never see freedom again as they assert their “social justice” mandates along with their lockdown mandates.
If we fight back using the same tactics as the leftists or support martial law, then we ultimately erase the civil liberties protected within the Bill of Rights. Those rights will NEVER return (don’t believe the promises for a second) and we become history’s biggest hypocrites and a cautionary tale of the “dangers of nationalism” told to children generations from now, much like the Nazis.

There is, however, another option, and it’s not diplomacy.

The establishment likes to make people think there are only ever two choices during any crisis, and both choices involve giving up more freedom or giving government more power. What they don’t want you to consider is the third option – The people taking power for themselves and removing power from those that would abuse it.

Why should we rely on a middleman to enact such measures? Why are we always being told that we need to wait for a president or a government to do the job we can do ourselves? The liberty movement doesn’t revolve around Trump or the election, and it should NEVER rely on martial law as a means to secure our safety. We can do this on our own without asking permission or waiting to be led by a mascot.

It is true that the political left and conservatives are no longer capable of finding common ground (except, interestingly, among some moderate liberals that also stand against forced vaccinations and medical mandates). In terms of the hard left, their cult is so far beyond reality now that it would be impossible to reconcile. They live on another planet and their frothing zealotry is too entrenched for them to ever see reason.

In their delusional fantasies we are the ultimate villains, and they are the “noble freedom fighters”. Of course, every single establishment power platform in the corporate world, in Big Tech and in the mainstream media is at their disposal, not to mention millions in funding from globalist organizations like the Open Society Foundation and the Ford Foundation, so this tale of the leftist “underdog” makes us double over with laughter at times.

The majority of conservatives just want to be left alone to live our lives the way we see fit. You know, like real Americans are supposed to do. But this notion is not acceptable to collectivists. They argue that we are “all part of a society”…THEIR society, and we must abide by their ideologies and rules “for the greater good” or suffer the consequences. In other words, you can check out anytime you like, but you can never leave.

The fact is, groups in general are abstractions of the mind. Just because someone declares that you are a part of their society does not make it so. Walking away is every individual’s right as a human being. Groups that survive and thrive tend to be built on shared values and principles. They don’t all need to agree on every detail, but they can’t be diametrically opposed in every way either.

Usually those with principles that match with an inherent sense of conscience are the groups that most appeal to people.

That said, there are people in this world (around 1% to 5% of any given population) that do NOT have inherent conscience, or they suffer from an ingrained affliction called narcissism. These people are attracted to movements that seek to dominate others, and they maintain membership through force rather than appealing to principle. There is no possible way that this group can ever coexist with people that value freedom and empathy. At least, not without incredible conflict…

There is a large and growing opposition to pandemic lockdown measures, social justice policies that amount to cultural Marxism, as well as the prospect of a Biden presidency which would encourage both of these travesties exponentially. It’s not all about Biden or the leftists, obviously. The Reset goes far beyond them, but many conservatives are looking at the problem more according to what is directly in front of them and less according to the people behind the curtain.

In light of this the mainstream media is doing exactly what is it designed to do – Create propaganda to “shame” anyone that dares to oppose the prevailing establishment narrative. Their most recent strategy is to label the conservative rebellion against the Reset as “the new Confederacy”, and to bring up the specter of the Civil War.

This narrative is riding on the back of discussion among conservatives and state politicians that the possibility of secession should be explored in the wake of the growing impasse between leftists, the globalist agenda, and freedom loving Americans.

The establishment and the useful idiots on the left will have none of it. Despite the fact that all they talked about during the first two years of Trump’s presidency was secession, now that the shoe is on the other foot (if Biden enters the White House and maybe even if he doesn’t) the SJWs and their media counterparts are FURIOUS at the idea that conservatives might actually succeed where they failed.

Collectivists are good at destroying things, not creating things. Their calls for secession were a joke because we all know they are incapable of self sufficiency, and also they have no means of defense. One look at short lived autonomous zones like “The CHAZ” will give you insight to what would happen if leftists tried to separate within a states. It would be a disaster for them.

When conservatives talk about separation, though, the leftists and globalists listen. They might not ever admit it, but they know we are actually capable of it.

To be clear, what I believe is happening is that conservatives are being prodded and provoked, not to separate and organize but to centralize. I think they want us to support actions like martial law which would be considered totalitarian. Conservatives, the only stalwart defenders of civil liberties, using military suppression and abandoning the Bill of Rights to maintain political power? That is a dream come true for the globalists in the long term. And despite people’s faith in Trump, there are far too many banking elites and globalists within his cabinet to ensure that such power will not be abused or used against us later.

I think the concept of the “new confederacy” label being used by leftists and the media reveals what they truly fear, though:

If they can get us to roll over for the lockdowns and medical tyranny and a Biden dictatorship, they’re happy.
If they can get us to support martial law under a Trump “coup”, they’re happy.
But what they don’t want is for conservatives and moderates to form their own organizational resistance not beholden to any singular political figure or top down pyramid structure.

Such organization is happening right now. Millions of liberty minded Americans are leaving leftist counties and states, taking their wealth and businesses with them, and going to more conservative regions where they feel they will be safer. There has not been an ideological immigration like this in the US for well over a century. The reality is that conservatives are congregating (FINALLY) and they are starting to work together for their own security.

In my own area in Montana I have been running local open meetings on preparedness and current events in the hopes of getting people on the same page and networked in the event that the current crisis spills over and rule of law breaks down. Or, in the event that there is an attempt by the state or federal government to enforce medical lockdown mandates where we live. These meetings have been expanding in the past couple of months and needless to say, people in my town are not going to submit to restrictions and do not plan to hide quietly in their homes while their community and businesses are destroyed.

These groups are forming across the country, and thank God, because without community organization there is ZERO chance of survival or freedom for liberty minded Americans. As I’ve noted in some of my latest articles, the rebellion against lockdowns and vaccination mandates is visible even in hard-left states like California and New York. There is much to be optimistic about. However, the fight is going to be difficult and there will be ample vitriol leveled against us as we successfully unify.

Organization requires a tit-for-tat philosophy to do well. Meaning, everyone must take some risk in order to encourage others to join the fight.

For example, conservatives want business owners to refuse to enforce lockdown rules. But, if a business owner makes this courageous choice and faces off with government health officials, then patriots need to be there to back them up. This might even mean standing in the way of law enforcement that is violating the constitutional rights of that business.

I call this “creating a wall of worry”; many police and sheriffs are not onboard with the enforcement of illegal mandates, but those that are need to understand that there are potential consequences for doing so. The wall of worry is a deterrent, and the larger the group of people involved the better. Police are not going to risk escalation of a fight over lockdown mandates if they realize that fight could go badly for them. And, if people in their own departments are against the lockdowns, the consequences double if they seek to enforce them. They should be the ones worried, not us.

Health Department officials are even less likely to push the issue in the face of opposition.

By extension, if your local sheriff’s department or police department is standing against the unconstitutional mandates and the state or federal government threatens them with repercussions, YOU must be there to offer help and support. They are taking a risk for you, so you must be willing to take a risk for them.

I am also hearing considerable chatter that many medical professionals including doctors and nurses are going to REFUSE to take the poorly tested and questionable Covid vaccine for fear of damaging side effects. And why should they? Why take a vaccine for a virus that only threatens less than 0.3% of the public outside of nursing homes?

Medical professionals are under immense pressure to take the vaccine or lose their license to practice. Conservatives MUST defend them if they rebel against mandatory vaccination.

This means helping them to set up their own clinics outside of the controlled system where they can continue to aid people and still make a living. This means networking liberty minded patients that need treatments for various ailments to doctors and nurses that will not demand they show a medical passport and will not report them to the government. This means protecting doctors and nurses from retribution should government officials try to punish or arrest them.

Communities will need to build their own localized economies, using barter and trade and maybe even creating a local currency scrip (hopefully backed by some kind of commodity). They are going to have to insulate themselves from the lockdowns economically in order to defy the lockdowns in a practical way. Otherwise, anyone that does not conform to medical passports and contact tracing will be denied access to the establishment controlled economy and die of poverty. We have to create alternatives. We have to offer people a choice outside of tyranny, otherwise many will go along with the tyranny.

Finally, conservative communities are going to have to provide for their own security. Regardless of how the election situation actually ends, and even if Trump stays in the White House and refuses to concede, martial law is an unacceptable scenario. Conservatives don’t need it anyway. We should be establishing localized security (otherwise known as militias) composed of any able bodied person in the community that wants to join. These militias would have to form as unofficial organizations, as it is unlikely that state politicians will sanction them.

That’s okay. We don’t need them to sanction our own security and defense. Like I said, we can handle it ourselves.

In the meantime, the leftists will label us “brownshirts”, but as mentioned they are the people that have proven over and over again to be violent and totalitarian, so their accusations ring hollow. The media will call us the “new confederacy”, which is funny because the majority of the original confederates and slave owners during the Civil War were Democrats.

We’ll set aside that irony and point out that people have an inherent right to self defense and to freedom from oppression, and none of us are slave owners. Anyone that calls for the globalist Reset is an enemy of individual rights, and anyone that tries to enforce medical tyranny is on the wrong side of history and of morality.

They can call us whatever they want and make erroneous historical comparisons until they are blue in the face; it won’t change the fact that we are seeking to be free and they are seeking to take that freedom away. This is all that matters.

* * *

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end

It is a disgrace: millions sent to Communist Maduro in Venezuela and Sudan

(Gateway Pundit/Hoft)

Democrats’ Stimulus Bill Also Sends Millions to the Communist Maduro Regime in Venezuela Where Dominion Voting Machines Originated

By Joe Hoft
Published December 22, 2020 at 7:50am

The Democrats’ stimulus bill is an outrage. After working with their Democrat governors and attorneys general around the US to do everything they could to kill the economy so they could make President Trump look bad, they then put together this piece of garbage.

Democrats have done all they can to kill the economy while claiming COVID was going to kill us all. They shut down small businesses and forced people out of business as a result. So today they offer relief and the regime in Venezuela comes out better than Americans.

We reported earlier today on the garbage bill from the Democrats.

Once piece from the bill not reported earlier is that Venezuela makes out in this bill as well in the amount of $33 million:

So the regime who was involved in the development of the voting machines used steal elections in their country for two decades and in the US this year are given money by the Democrats? What an outrage.

The bill is 5,500 pages long and full of money for everyone but the people the Democrats have punished for attempting to run their own businesses.

Here is more on the millions for Sudan – of course to Democrats this makes sense being in there – where the hell is all this money going to?

This was a disgrace. The Democrats and their allies keep getting more and more outrageous, anti-American, communist and crazy.

end

ELECTION CHAOS

COMMENTARY NO 1

Sidney Powell again in the White House as Trump plans his next move

(Gateway Pundit/Laila)

Sidney Powell Spotted at White House Again as Trump Huddles with GOP Lawmakers Preparing to Fight Back Against Dem Voter Fraud

By Cristina Laila
Published December 21, 2020 at 7:31pm

Sidney Powell

Attorney Sidney Powell was back at the White House again on Monday afternoon.

This is Powell’s 3rd visit to the White House in the last 4 days.

President Trump on Monday also huddled with GOP lawmakers for several hours and discussed contesting the electoral college vote because of massive Democrat voter fraud.

According to reports, Trump met with several members of Congress including Matt Gaetz and Mo Brooks.

The left-wing media went crazy over the weekend after it was revealed (leaked) that Sidney Powell and General Flynn were in the Oval Office discussing Trump’s strategy on turning the election around after the Democrats committed massive voter fraud in a few key battleground states.

Sidney Powell reportedly met with Trump in Oval Office Friday evening where the President 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 and deploying the military was reportedly raised in the meeting but nixed.

end

COMMENTARY NO 2

Jody Hice:

Big meeting today with @realDonaldTrump, @VP, the President’s legal team, @freedomcaucus and other Members of Congress. I will lead an objection to Georgia’s electors on Jan 6. The courts refuse to hear the President’s legal case. We’re going to make sure the People can!”

Georgia GOP Rep. Hice Reports on White House Meeting With Pres. Trump and V.P. Pence: Vows to Object on Jan. 6 to State’s Electors

By Kristinn Taylor
Published December 21, 2020 at 8:56pm

President Trump met at the White House Monday afternoon with several Republican Congressmen to discuss the contested presidential election. Among them was Rep. Jody Hice of Georgia who said he will object to Georgia’s electors when Congress convenes on January 6 to review and decide whether to accept the votes of the Electoral College for president and vice president.

“Big meeting today with @realDonaldTrump, @VP, the President’s legal team, @freedomcaucus and other Members of Congress. I will lead an objection to Georgia’s electors on Jan 6. The courts refuse to hear the President’s legal case. We’re going to make sure the People can!”

The meeting is notable not just for Hice’s vow to contest the electors, but also for the reported presence of Vice President Mike Pence who has not been previously reported to be a participant in the meetings about the contested election.

White House Chief of Staff Mark Meadows had tweeted earlier about the meeting, “Several members of Congress just finished a meeting in the Oval Office with President @realDonaldTrump, preparing to fight back against mounting evidence of voter fraud. Stay tuned.”

Politico’s Jake Sherman reported he saw GOP Congressmen at the White House Monday afternoon but apparently missed Hice. Those he saw were, Rep. Mo Brooks (AL), Rep. Matt Gaetz (FL), Rep. Jim Jordan (OH), Rep. Andy Biggs (AZ), Rep. Scott Perry (PA), Rep. Louie Gohmert (TX) and
Congresswoman-elect Marjorie Taylor-Greene (GA).

Taylor-Greene posted a video report on the meeting:

Also spotted at the White House Monday was attorney Sidney Powell, reported the N.Y. Times’ Maggie Haberman, “Four people briefed on events said Sidney Powell was back at the White House again today, for third time in four days.”

Haberman noted that Powell seems to have Trump’s ear, “Some folks around the president (not Rudy) keep wanting to pretend the president is playing a game/is just enjoying watching a fight in front of his desk, but that phase ended a few weeks ago. Powell and folks like her have his ear.”

Georgia state Senator William T. Ligon recently issued a report on the state’s election based on a December 3 hearing that featured massive evidence of election fraud and irregularities. Ligon’s executive summary report said the election results are “untrustworthy”. The report called on the Georgia legislature to rescind certification of the election and to consider appointing new electors.

“The November 3, 2020 General Election (the “Election”) was chaotic and any reported results must be viewed as untrustworthy.”

“The Legislature should carefully consider its obligations under the U.S. Constitution. If a majority of the General Assembly concurs with the findings of this report, the certification of the Election should be rescinded and the General Assembly should act to determine the proper Electors to be certified to the Electoral College in the 2020 presidential race. Since time is of the essence, the Chairman and Senators who concur with this report recommend that the leadership of the General Assembly and the Governor immediately convene to allow further consideration by the entire General Assembly.

END

Health care workers in Washington DC and in Texas, turn down the COVID vaccine: too much mistrust

(zerohedge)

Hospital Workers Turn Down COVID Vaccine: “There’s Too Much Mistrust”

Less than a week after we reported on widespread resistance among healthcare workers in one Chicago hospital, BeckersHospitalReview.com’s Ayla Ellison reports that the virus of vaccine mistrust is spreading…

Many employees at Howard University Hospital in Washington, D.C., have reservations about taking the COVID-19 vaccine, and CEO Anita Jenkins is trying to get workers to follow her lead by getting vaccinated, according to CNN.

The hospital, a major healthcare provider for the Black community, received 725 doses of the Pfizer vaccine Dec. 15 and expects to receive a second shipment this week. As of Dec. 18, only about 600 of the hospital’s 1,900 employees had signed up for the shots, according to Kaiser Health News.

“There is a high level of mistrust and I get it,” Ms. Jenkins told Kaiser Health News.

“People are genuinely afraid of the vaccine.”

The vaccination numbers, though low, still exceeded expectations, Ms. Jenkins told CNN. An internal hospital survey of about 350 employees in early November showed that 70 percent were not willing to take the COVID-19 vaccine or would not take it immediately after it became available.

Ms. Jenkins received the shot Dec. 15 in hopes of inspiring staff to get vaccinated. She’s part of a widespread effort by healthcare experts and community leaders to combat vaccine hesitancy among Black Americans. About 35 percent of Black Americans said they probably or definitely would not get the vaccine if it was determined to be safe by scientists and widely available for free, according to a Kaiser Family Foundation study cited by CNN.

Howard University Hospital isn’t the only healthcare provider with workers who turned down the vaccine.

At Doctors Hospital at Renaissance in Edinburg, Texas, so many workers declined the COVID-19 vaccine that the hospital offered doses to other medical workers in the region, according to ProPublica.

The hospital received 5,850 doses of the vaccine, and it quickly became clear that not enough people eligible for the vaccine, like staff who work directly with COVID-19 patients, were opting to get it, DHR Health CMO Robert Martinez, MD, told ProPublica.

“You start to see similar numbers across the country, all this mistrust and misinformation,” Dr. Martinez said.

After the first day of distribution, DHR reached out to other hospitals and healthcare facilities in the region to offer doses of the vaccine. ProPublica reported that the vaccine ended up going to non-medical personnel as well, including state Sen. Eddie Lucio Jr. He told ProPublica he was invited to take the vaccine by DHR after officials explained to him that all eligible workers who wanted the vaccine received it.

In short, as we noted previously, nobody wants to be a guinea pig.

iv) Swamp commentaries)

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

The new stimulus bill is reportedly 5593 pages! It is a nauseating and humongous slush fund for US pols’ buddies and special interests. $700m will go to Sudan; $132m for the country of Georgia; $10m goes to Pakistan for “gender programs”; $1,3B for a “Foreign Military Financing Program” in Egypt; $453m for Ukraine, $135m for Burma, $85.5m for Cambodia, $1.4B for an “Asia Reassurance Initiative Act” and $130m for Nepal. The five ex-presidents get $4,400,000; you get 600 bucks – if you qualify.

GOP @RepMarkGreen: 5,593 pages to read and the vote is in 4 hours. That’s almost 1,000 pages an hour! This is INSANITY and the definition of dysfunction, @SpeakerPelosi!

Google confirms it notifies children if parents are monitoring their accounts [Really sick!]

Google’s child-notification policies received attention when film director Robby Starbuck claimed on Twitter that his 7-year-old child had received a warning from Google that his account was being monitored… https://justthenews.com/nation/technology/google-confirms-it-notifies-children-if-their-parents-are-monitoring-their

Rich Americans Who Fear Higher Taxes Hurry to Move Money Now

Advisers say they’re swamped with clients seeking advice
Rich are looking to protect against possible Biden tax changes

Two run-off elections in Georgia on Jan. 5 give Democrats a chance to win 50 seats in the Senate.. with Vice President-elect Kamala Harris casting tie-breaking votes.

…Tax changes under Biden could be retroactive to the beginning of 2021… Biden has also called for income tax hikes on the wealthy, including much higher levies on capital gains. Advisers say that has prompted some clients to try to sell businesses or investments in 2020, locking in rates that are unlikely to fall but could rise in the years ahead… https://www.bloomberg.com/news/articles/2020-12-21/wealthy-americans-fearing-higher-taxes-hurry-to-move-money-now

Barr says he has ‘no plan’ to appoint election, Hunter Biden special counsels

https://www.foxnews.com/politics/barr-no-special-counsel-election-hunter-biden

Barr stridently warned in early September that mail-in ballots in a country deeply divided was a recipe for vote fraud and even more internal strife. He then did NOTHING to prevent or monitor vote fraud. He also prevented Durham from releasing incriminating info about his investigation and put the ‘cone of silence’ over the Hunter Biden investigation. Now, he is doing a Pontius Pilate and walking away. Barr was yet another disastrous Trump hire, another career Swamp creature that appears to detest DJT.

GOP Sen @HawleyMO: “After 4 years of being told the last election was fake, the same people are telling us if you have any concerns about election integrity you’re a nut case, sit down and shut up. That is not a recipe for success in this country.”

GOP @RepAndyBiggsAZ: The Swamp, aided by Democrats and members of the mainstream media, appointed a biased special counsel to investigate President @realDonaldTrump over the Russian HOAX.

So spare us the faux outrage over special counsels for election integrity + Hunter Biden.

Well that is all for today

I will see you WEDNESDAY night.

DEC 22//RAID CONTINUES AS IS NOW THE NORM EACH MONTH: GOLD DOWN $12.00 TO $1866.30//SILVER DOWN 74 CENTS TO $25.42//CORONAVIRUS UPDATE//USA PASSES THE HUGE 2.3 TRILLION DOLLAR SPENDING BILL//ELECTION CHAOS COMMENTARIES//SWAMP STORIES FOR YOU TONIGHT///

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TOTAL NUMBER OF NOTICES FILED TODAY: 424 NOTICES FOR 42400 OZ (1.319 TONNES)

345 NOTICE(S) FILED TODAY FOR 1,725,000 OZ/

Let us have a look at the data for today

3. ASIAN AFFAIRS

Trading Volumes on the COMEX TODAY:171,424 contracts// volume extremely poor and falling in numbers

CONFIRMED COMEX VOL. FOR YESTERDAY: 240,935 contracts// volume: poor//

/most of our traders have left for London

ii) Important gold commentaries courtesy of GATA/Chris Powell

Silver’s volatility today signals new trend higher, Turk tells KWN

Pam and Russ Martens: Market-rigging ESF slush fund increased to $681 billion by ‘stimulus’ bill

iii) Other physical stories:

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

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

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

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

3A/ASIAN AFFAIRS

3 a./NORTH KOREA/ SOUTH KOREA

b) REPORT ON JAPAN

3 C CHINA

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues

7. OIL ISSUES

8 EMERGING MARKET ISSUES

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

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

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

USA trading today in Graph Form

Open Letter to President Trump: You Must Use Insurrection Act to “Stop the Steal” and Defeat the Coup

The Democrats’ stimulus bill is an outrage. After working with their Democrat governors and attorneys general around the US to do everything they could to kill the economy so they could make President Trump look bad, they then put together this piece of garbage.

This was a disgrace. The Democrats and their allies keep getting more and more outrageous, anti-American, communist and crazy.

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