DEC 24//MERRY CHRISTMAS TO ALL: GOLD CLOSESUP $6.15 TO $1879.90//SILVER CLOSES UP 4 CENTS TO $25.79//GOLD TONNAGE STANDING INCREASES TO 93.5 TONNES//CORONAVIRUS UPDATES USA/GLOBE//BRITAIN AND EU REACH BREXIT DEAL;//TRUMP POCKETS THE 2.4 TRILLION DOLLAR FUNDING//TRUMP VETOS DEFENSE BILL//ELECTION CHAOS COMMENTARIES//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1879.90 UP   $6.15   The quote is London spot price

Silver:$25.79 UP $0.04   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1872.50  LONDON SPOT  4:30 pm

ii)SILVER:  $25.80//LONDON SPOT  4:30 pm

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation.

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.”

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation.

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:  30/146

EXCHANGE: COMEX
CONTRACT: DECEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,874.700000000 USD
INTENT DATE: 12/23/2020 DELIVERY DATE: 12/28/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
118 H MACQUARIE FUT 63
657 C MORGAN STANLEY 14 11
661 C JP MORGAN 30
686 C STONEX FINANCIA 26
690 C ABN AMRO 3
732 C RBC CAP MARKETS 10
737 C ADVANTAGE 99
905 C ADM 4
991 H CME 32
____________________________________________________________________________________________

TOTAL: 146 146
MONTH TO DATE: 29,945

ISSUED 0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

TOTAL NUMBER OF NOTICES FILED TODAY:   146 NOTICES FOR 14,600 OZ  (0.4541 TONNES)

TOTAL NUMBER OF NOTICES FILED SO FAR:  29,945 NOTICES FOR 2,994,500 OZ  (93.141 tonnes) 

SILVER//DEC CONTRACT

77 NOTICE(S) FILED TODAY FOR 385,000  OZ/

total number of notices filed so far this month: 9268 for 46,340,000  oz

BITCOIN MORNING QUOTE  $23,030   DOWN 190

BITCOIN AFTERNOON QUOTE.  :$23,631  DOWN 333 DOLLARS .

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD AND SLV INVENTORIES:

WITH GOLD UP $6.15 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

NO CHANGE IN GOLD INVENTORY AT THE GLD//

INVENTORY RESTS AT:

GLD: 1,167.33 TONNES OF GOLD//

WITH SILVER UP 4 CENTS TODAY: AND WITH NO SILVER AROUND:

A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//

A WITHDRAWAL OF 2.51 MILLION OZ FROM THE SLV

INVENTORY RESTS AT :

SLV: 554.951  MILLION OZ./

XXXXXXXXXXXXXXXXXXXXXXXXX

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

IN SILVER THE COMEX OI FELL BY A TINY SIZED 82 CONTRACTS FROM 168,926 DOWN TO 168,844, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE GAIN IN OI OCCURRED WITHOUR  GAIN  OF $0.33 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO SOME BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A SMALL EXCHANGE FOR PHYSICAL. WE  HAD ZERO LONG LIQUIDATION,AND A SMALL DECREASE IN SILVER OUNCES  STANDING AT THE COMEX FOR DEC.WE HAD A SMALL SIZED GAIN IN OUR TWO EXCHANGES OF 288 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A SMALL  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  275, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  0, MARCH 275 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  275 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.

47.020 MILLION OZ INITIAL STANDING FOR DEC.

WEDNESDAY, 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 $0.33) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE   UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY  SILVER LONGS AS WE HAD A TINY GAIN IN OUR TWO EXCHANGES (193 CONTRACTS). NO DOUBT THE GAIN IN OI ON THE TWO EXCHANGES WAS DUE TO i) SOME BANKER/ STRONG ALGO SHORT COVERING.  WE ALSO HAD  ii)  A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A SMALL DECREASE IN SILVER OZ STANDING FOR DEC, iii) TINY 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:

16,181 CONTRACTS (FOR 18 TRADING DAY(S) TOTAL 16,181 CONTRACTS) OR 80.905 MILLION OZ: (AVERAGE PER DAY 898 CONTRACTS OR 4.50 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF DEC: 80.905 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 11.55% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,655.21 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:                    80.905 MILLION OZ (ESCALATING IN NUMBERS AGAIN  )

RESULT: WE HAD A TINY SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 82, DESPITE OUR STRONG $0.33 GAIN IN SILVER PRICING AT THE COMEX //WEDNESDAY.…THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 275 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE GAINED A SMALL  SIZED 193 OI CONTRACTSON THE TWO EXCHANGES (WITH OUR   $0.33 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  275 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A TINY SIZED DECREASE OF 82 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.33 RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $25.75 // WEDNESDAY’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. 0.8446 BILLION OZ TO BE EXACT or 121% of annual global silver production (ex Russia & ex China).

FOR THE NEW DEC  DELIVERY MONTH/ THEY FILED AT THE COMEX: 77 NOTICE(S) FOR 385,000 OZ OF SILVER.

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

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A CONSIDERABLE SIZED 3749 CONTRACTS TO 561,816 AND CLOSER TO OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE GAIN IN COMEX OI OCCURRED WITH OUR RISE IN PRICE  OF $7.40 /// COMEX GOLD TRADING//WEDNESDAY.WE  HAD SOME BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AS WE HAD A SMALL GAIN ON OUR TWO EXCHANGES  (6138 CONTRACTS). WE  HAVE A GOOD SIZED INCREASE IN AMOUNT OF GOLD STANDING FOR DELIVERY IN DECEMBER(GOLD STANDING UP TO 93.524 TONNES) .THIS ALL HAPPENED WITH OUR GAIN IN PRICE OF $7.40. 

.

WE HAD A VOLUME OF 3    4 -GC CONTRACTS//OPEN INTEREST  4//

WE HAD A CONSIDERABLE SIZED GAIN OF 6705 CONTRACTS   ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A SMALL SIZED 2389 CONTRACTS:

CONTRACT .  DEC: 0; FEB: 2389  AND DEC ’21: 0 ALL OTHER MONTHS ZERO//TOTAL: 2389.  The NEW COMEX OI for the gold complex rests at 561,816. 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 CONSIDERABLE SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6138 CONTRACTS: 3749 CONTRACTS INCREASED AT THE COMEX AND 2389 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN//TWO EXCHANGES OF 6138 CONTRACTS OR 19.09 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2389) ACCOMPANYING THE CONSIDERABLE SIZED GAIN IN COMEX OI  (3749 OI): TOTAL LOSS IN THE TWO EXCHANGES: 6705 CONTRACTS. WE NO DOUBT HAD  1)  STRONG BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2 SMALL GAIN IN GOLD OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT DEC. MONTH TO 93.524 TONNES3)  ZERO LONG LIQUIDATION ;4) CONSIDERABLE COMEX OI GAIN,  5) SMALL SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL….ALL OF THIS OCCURRED WITH  OUR GAIN IN GOLD PRICE TRADING/WEDNESDAY//$7.40.

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 : 41,952 CONTRACTS OR 4,195,200 oz OR 130.49 TONNES (18 TRADING DAY(S) AND THUS AVERAGING: 2330 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 18 TRADING DAY(S) IN  TONNES: 130.49  TONNES

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

THUS EFP TRANSFERS REPRESENTS 130.49/3550 x 100% TONNES =3.67% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,952.84 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:                         130.49 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 TINY SIZED 82 CONTRACTS FROM 168,844 DOWN TO 168,939 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 TINY SIZED GAIN IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1) SOME BANKER SHORT COVERING//ALGO SHORT COVERING//// , 2) A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A SMALL DECREASE  IN SILVER OUNCES  STANDING   AT THE COMEX FOR DEC., AND 4) ZERO LONG LIQUIDATION 

EFP ISSUANCE 275 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:  275  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 275 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 82 CONTRACTS TO THE 275 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A  GAIN OF 193 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 0.965 MILLION  OZ, OCCURRED WITH OUR $0.33 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)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 19.21 PTS OR  57%   //Hang Sang CLOSED UP 43.46 PTS OR .17%    /The Nikkei closed UP 143.56 POINTS OR 0.56%//Australia’s all ordinaires CLOSED UP 0.36%

/Chinese yuan (ONSHORE) closed /Oil UP TO 47.65 dollars per barrel for WTI and 50,72 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT PARIS//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5302. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5220 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY BY A CONSIDERABLE SIZED 3749 CONTRACTS TO 561,816 AND CLOSER TO OUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX INCREASE OCCURRED WITH OUR CONSIDERABLE  GAIN OF $7.40 IN GOLD PRICING WEDNESDAY’S COMEX TRADING/).

 WE HAD A SMALL EFP ISSUANCE (2389 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 93.524 TONNES)//DEC. DELIVERY MONTH (SEE BELOW) 4)   AS WE ENGINEERED A GOOD SIZED GAIN ON OUR TWO EXCHANGES OF 6138 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 3    4 -GC VOLUME//open interest LOWERS TO  4

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 2389 EFP CONTRACTS WERE ISSUED:     DEC 0; FEB// ’21 2389 AND DEC 21: 0 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2389  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: 6138 TOTAL CONTRACTS IN THAT 2389 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A CONSIDERABLE SIZED 3749 COMEX CONTRACTS.. THE BIG NEWS IS THE GIGANTIC LEVEL OF DEC 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((93.524 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 $12.00). BUT, THEY WERE SOMEWHAT UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED   19.09 TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR DECEMBER (93.524 TONNES)

NET GAIN ON THE TWO EXCHANGES :: 6138 CONTRACTS OR 613800 OZ OR 19.090  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:  561,816 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.18 MILLION OZ/32,150 OZ PER TONNE =  1747 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1747/2200 OR 79,42% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY  59,488 contracts// volume extremely poor and falling in numbers

CONFIRMED COMEX VOL. FOR YESTERDAY:  169,642 contracts//  volume: poor//

/most of our traders have left for London

DEC 24 /2020

DEC. GOLD CONTRACT MONTH

INITIAL STANDING FOR DEC GOLD
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz 281,735.550
OZ

JPMORGAN

JPMORGAN//

ENHANCED

5,000 KILOBARS

JPM

AND

PHONY LONDON GOOD DELIVERY BARS

JPM(ENHANCED)

No of oz served (contracts) today
146 notice(s)
 14,600 OZ
(0.4541 TONNES)
No of oz to be served (notices)
123 contracts
(12300 oz)
0.3825 TONNES
Total monthly oz gold served (contracts) so far this month
29,945 notices
2,994,500 OZ
46,340,000 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 0 deposit into the dealer

total deposit: nil  oz

total dealer withdrawals: nil oz

we had  2 deposit into the customer account

i) Into JPMorgan:  160,755.000 (5,000 kilobars)
ii) Into JPMorgan:  120,980.550 enhanced London good delivery
bars//phony bars.

total customer deposit: 281,735.550    oz

we had  0 gold withdrawals from the customer account:

total customer withdrawals:  nil  oz

We had 1  kilobar transactions

ADJUSTMENTS: 0//  

and

The front month of DEC registered a total of 269 contracts for a LOSS of 94. We had 138 notices filed upon yesterday so we  GAINED A SMALL SIZED 44 contacts or 4400 additional oz will stand in this very active delivery month of December as we finally witness  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, and as such this caused the total tonnage standing increase.

January gained 23 contracts to stand at 2014 contracts. FEBRUARY gained  3068 contracts up TO 415,082.

THE BIG STORY AGAIN TODAY IS THE HIGH INITIAL OI STANDING FOR DECEMBER (93.524 tonnes).

We had  146 notice(s) filed today for  14,600 oz OR 0.454 TONNES.

FOR THE DEC 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 146  contract(s) of which  0  notices were stopped (received) by j.P. Morgan dealer and  30 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the DEC /2020. contract month, we take the total number of notices filed so far for the month (29,945) x 100 oz , to which we add the difference between the open interest for the front month of  (DEC 269 CONTRACTS ) minus the number of notices served upon today (146 x 100 oz per contract) equals 3,006,800 OZ OR 93.524 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 (29,945 x 100 oz 269 OI) for the front month minus the number of notices served upon today (146) x 100 oz which equals 3,006,800 oz standing OR 93.524 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 44 contracts or an additional 4400 oz (.1368 tonnes) will stand in this active delivery month of December. For the entire month queue jumping was non existent.  Finally, in the last two days we have small queue jumping and that has caused our gold tonnage standing for delivery to increase.

NEW PLEDGED GOLD:  BRINKS

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

69,076.803 PLEDGED  APRIL 3/2020: SCOTIA:2.148 TONNES

282,450.845 oz  JPM  8.78 TONNES

970,839.799 oz pledged June 12/2020 Brinks/30.198 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

6308.08 oz International Delaware:  .196 tonnes

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

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 528.59 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 93.524 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  19,046,795.939 oz or 592.43 tonnes
total weight of pledged:  2,052,582.012 oz or 63.84 tonnes
thus:
registered gold that can be used to settle upon: 16,994,213.0  (528,59 tonnes)
true registered gold  (total registered – pledged tonnes  16,994.213.0 (528.59 tonnes)
total eligible gold:  19,113,440.679 oz (594.50 tonnes)

total registered, pledged  and eligible (customer) gold  38,160,236.618 oz 1,186.94 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1060.60 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 24/2020

And now for the wild silver comex results

And now for the wild silver comex results

INITIAL STANDINGS

DEC. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
15,029.610 oz
CNT
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
603,713.375 oz
CNT
Delaware
No of oz served today (contracts)
77
CONTRACT(S)
(385,000 OZ)
No of oz to be served (notices)
136 contracts
 680,000 oz)
Total monthly oz silver served (contracts)  9268 contracts

46,340,000 oz)

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

total dealer deposits: nil       oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

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

i(Into JPMorgan: 0)
ii) into CNT:  599,706.653 oz:
iii) into Delaware:  4006.722 oz

JPMorgan now has 192.187 million oz of  total silver inventory or 48.61% of all official comex silver. (192.18 million/3959389 million

total customer deposits today:  603,713.375    oz

we had 1 withdrawals:

i) Out of CNT:  15,029.910oz

total withdrawals 15,029.910      oz

We had 0 adjustments

Total dealer(registered) silver: 152.688million oz

total registered and eligible silver:  395.938 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

December saw a LOSS of  22 contracts DOWN to 213 contracts. We had 8 notices served upon yesterday so we LOST 14 contracts or AN ADDITIONAL 70,000 oz will NOT  stand in this very active delivery month of December as BANKERS GIVE UP SEARCHING FOR silver over here

January saw a LOSS of  13 contracts DOWN to 1290. FEBRUARY saw another gain of 13 contracts to stand at 341.  MARCH  LOST 243 contracts up to 143,120.

The total number of notices filed today for DEC 2020. contract month is represented by 77 contract(s) FOR 385,000 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 9268 x 5,000 oz = 46,340,000 oz to which we add the difference between the open interest for the front month of DEC ( 213) and the number of notices served upon today 77x (5000 oz) equals the number of ounces standing.

Thus the DEC standings for silver for the DEC/2019 contract month: 9191 (notices served so far) x 5000 oz + OI for front month of DEC(213)- number of notices served upon today (77) x 5000 oz of silver standing for the NOV contract month .equals 47,020,000 oz. ..VERY STRONG FOR AN ACTIVE  DEC MONTH.

We LOST 14 contracts or 70,000 additional oz will NOT  stand as our banker friends GIVE UP searching out for metal on this side of the pond. These longs accepted a long based forward contracts and received a fiat bonus for their efforts..

TODAY’S ESTIMATED SILVER VOLUME 21,918 CONTRACTS // volume poor//

FOR YESTERDAY  69,266  ,CONFIRMED VOLUME// good

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO- 2.78% ((DEC 24/2020)

2. Sprott gold fund (PHYS): DISCOUNT to NAV  FALLS TO 1.82% to NAV:   (DEC 24/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.78% (DEC 24)

(courtesy Sprott/GATA

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

NAV 19.55 TRADING 18.89///NEGATIVE 3.37

END

And now the Gold inventory at the GLD

DEC 24/WITH GOLD UP $6.15 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1167.53 TONNES

DEC.23/WITH GOLD UP $7.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 2.33 TONNES FROM THE GLD//INVENTORY RESTS AT 1167.53 TONNES

DEC 22/WITH GOLD DOWN $12.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPSOIT OF 2.04 TONNES INTO THE GLD//INVENTORY RESTS AT 1169.86 TONNES

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at

DEC 24/ GLD INVENTORY 1167.53 tonnes

LAST;  972 TRADING DAYS:   +223.46 TONNES HAVE BEEN ADDED THE GLD

LAST 872 TRADING DAYS// +400.62  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

Now the SLV Inventory

DEC 24/WITH SILVER UP 4 CENTS TODAY: A HUGE  CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.51 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 554.951 MILLION OZ//

DEC 23/WITH SILVER UP 33 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 557.461 MILLION OZ//

DEC 22/WITH SILVER DOWN 74 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV.INVENTORY RESTS AT 557.461 MILLION OZ/

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

DEC 24.2020:

SLV INVENTORY RESTS TONIGHT AT  557.461 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

The SEC is alive and well as they attack the crypto Ripple for an unregistered securities offering

(CNBC/GATA)

SEC attacks blockchain company Ripple

 Section: 

Cryptocurrency XRP plunges 25% after SEC files lawsuit against Ripple

By Ryan Browne
CNBC, New York
Wednesday, December 23, 2020

The price of cryptocurrency XRP plunged again today after the U.S. Securities and Exchange Commission filed a lawsuit alleging that Ripple, a blockchain company with ties to the cryptocurrency, conducted a $1.3 billion unregistered securities offering.

XRP sank nearly 25% to around 35 cents this morning, according to data from cryptocurrency market site CoinDesk. The virtual currency fell as much as 17% Tuesday after Ripple said it anticipated and would fight the legal action.

The SEC is suing Ripple and two of its executives, CEO Brad Garlinghouse and co-founder Chris Larsen. At the heart of the federal agency’s complaint is the claim that XRP should be treated as a security — like a share in a company — rather than a currency. …

… For the remainder of the report:

https://www.cnbc.com/2020/12/23/cryptocurrency-xrp-plunges-25percent-aft…

END

Your holiday reading material; important!

Central banks will shun bitcoin and all cryptos and return to gold

(Alasdair Macleod/GATA)

Alasdair Macleod: Central banks will shun bitcoin and return to gold

 Section: 

The Psychology of Money

By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Wednesday, December 23, 2020

The world stands on the threshold of monetary hyperinflation with the U.S. dollar leading the way. The final months of fiat money are coming into view.

What will replace the currencies — bitcoin or gold?

This article argues that the solution is bound to be with central banks and government treasury departments retaining their control as issuers of money by the only means at their disposal: deploying their gold reserves to back their currencies, not as fiat but as credible gold substitutes.

Central banks own no bitcoin, which effectively rules it out. Central banks may try their own equivalents, central bank digital currencies, but they are simply another form of fiat money and will also fail — assuming there is enough time for them to be introduced.

In any event, the eventual replacement for fiat money needs to be beyond government control (other than the state acting as a monetary trustee, ensuring that gold coins are always available for exchange) and flexible enough for its users to collectively set the quantity that acts as money.

A formulaic medium such as bitcoin does not provide this flexibility, but gold clearly does and has proved its suitability in the past. …

… For the remainder of the analysis:

https://www.goldmoney.com/research/goldmoney-insights/the-psychology-of-…

iii) Other physical stories:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

71671201

Spencer Platt | Getty Images

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

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

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

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

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

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

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

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

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

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

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

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

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

end

March 4.2019

Parker City News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kovel declined to comment.

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

-END-

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

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

… 

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

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

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

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

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

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

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

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

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

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

* * *

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

i) Chinese yuan vs USA dollar/CLOSED UP AT 6.5302 /

//OFFSHORE YUAN:  6.5220   /shanghai bourse CLOSED DOWN 19.21 PTS OR .57%

HANG SANG CLOSED UP 43.46 PTS OR .17%

2. Nikkei closed UP 143.56 POINTS OR 0.54%

3. Europe stocks OPENED ALL GREEN EXCEPT PARIS/

USA dollar index DOWN TO 90281/Euro FALLS TO 1.2191

3b Japan 10 year bond yield: RISES TO. +.02/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 103.64/ 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:: 47.65 and Brent: 50.72

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.55%/Italian 10 yr bond yield UP to 0.60% /SPAIN 10 YR BOND YIELD UP TO 0.08%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.15: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.64

3k Gold at $1875.75 silver at: 25.72   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 65/100 in roubles/dollar) 74.25

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 103.64 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 .8896 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0846 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 RISING to 0.55%

The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.

4. USA 10 year treasury bond at 0.942% early this morning. Thirty year rate at 1.683%

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

6.  TURKISH LIRA:  UP  TO 7.56..

Futures Flat In Quiet, Holiday-Shortened Session

THURSDAY, DEC 24, 2020 – 8:08

Global stocks rallied and the British pound gained as Britain and the European Union closed in on a free-trade deal although S&P futures were flat in a very quiet session ahead of today’s shortened trading day. In China, Alibaba slumped after China launched an antitrust investigation into the e-commerce giant. The dollar and TSY yields were both slightly lower. Markets close at 1:00 PM ET today and will stay closed for Christmas holiday on Friday.

Energy stocks, including Exxon Mobil Corp and Chevron Corp, rose slightly in premarket trade, tracking strength in the crude market as a drop in U.S. stockpiles and hints of an imminent Brexit deal underpinned oil prices.

The S&P 500 and the Dow ended higher on Wednesday as investors rotated to cyclical and small cap stocks that stand to benefit most during a recovery, encouraged by COVID-19 vaccine rollouts and passing of the coronavirus relief bill. The rotation weighed on the Nasdaq, which ended lower. Investors largely shrugged off comments by Donald Trump that a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was “a disgrace” that he might not sign.

“Right now we have a lot of animal spirits surging into year end,” Michael Purves, founder and CEO at Tallbacken Capital Advisors, said on Bloomberg TV. “As constructive as I am on markets in the broader term, I do expect there will be a hangover of sorts to process this over-extension some time later this winter.”

The MSCI world equity index rose 0.16% after solid gains in Asia. In Europe, the Stoxx 600 Index edged higher ahead of an expected press conference from Prime Minister Boris Johnson on Thursday, which was delayed over last-minute haggling. Negotiators worked through the night putting the finishing touches on the historic pact, which will formally complete Britain’s separation from the European Union. The pound rose to the highest in a week, while the euro was steady. The FTSE 100 rose 0.07% while the more domestically-focused British mid-cap FTSE 250 index hit its highest levels since February, and UK small caps a record high. The STOXX 50 added 0.17% while Germany’s DAX gained 1.26%.

Sterling rose as much as 0.9% to $1.3619, close to its highest level in two years. Still, the pound’s 5% rally since early November means much of the Brexit relief has been priced in to the currency, analysts say.

The Brexit deal will add to an end-of-year bullish mood in markets, where investors have looked beyond a spike in new COVID-19 cases globally and rising unemployment to the hope that vaccines and more fiscal spending will help spur an economic recovery in 2021. Mizuho analysts dubbed it the “mistletoe effect”, whereby anticipation of a trade accord meant that “despite being subject to the approval of PM Johnson and EU governments the outline deal was enough” to stoke a rally in markets.

Asian stocks advanced, driven by energy and technology shares, as the outline of a post-Brexit trade deal helped lift investor sentiment. Gains in South Korea’s Samsung Electronics and Japan’s Keyence helped put a gauge of regional tech shares on course for another record close. Energy was the other top-performing sector as the MSCI Asia Pacific Index rose for a second day. Thailand’s SET Index rallied more than 2% to lead gains among national benchmarks, but was still on course for a weekly drop owing to its sharp plunge Monday on concerns over coronavirus cases and related lockdowns. Key gauges in South Korea and India also climbed. However, China’s Shanghai Composite Index dropped. Shares of Alibaba plunged 8% in Hong Kong after China started an investigation into its alleged monopolistic practices as part of an accelerating crackdown on anticompetitive behavior

Vietnam’s benchmark also slumped as investors booked profits following its recent rally. Markets closed early in Australia, New Zealand, Hong Kong and Singapore, while those in Indonesia and Philippines were shut

“While the pandemic meant lost lives and lost jobs in 2020, a successful vaccine rollout during 2021 is set to be a game changer: governments will gradually lift mobility restrictions and societies will return to most pre-pandemic habits,” Candriam told clients. “The swift recovery during the third quarter in the Western hemisphere and the ongoing expansion in Asia, where a second infection wave has mostly been avoided, serve as a template for the near future.”

In FX cable was the outlier move; elsewhere the dollar edged 0.1% lower while the euro held above $1.22.

In commodities, Brent rose 37 cents to $51.57 a barrel, while U.S. West Texas Intermediate crude increased 34 cents to $48.46, buoyed by a drawdown in U.S. stockpiles and the potential Brexit trade deal. Gold prices rose, with the spot price of the precious metal at $1,878, 0.3% higher on the day.

No major economic data releases scheduled in today’s holiday-shortened session.

Market Snapshot

  • S&P 500 futures up 0.3% to 3,691.00
  • MXAP up 0.5% to 195.65
  • MXAPJ up 0.6% to 648.33
  • Nikkei up 0.5% to 26,668.35
  • Topix up 0.5% to 1,774.27
  • Hang Seng Index up 0.2% to 26,386.56
  • Shanghai Composite down 0.6% to 3,363.11
  • Sensex up 1.2% to 46,997.76
  • Australia S&P/ASX 200 up 0.3% to 6,664.77
  • Kospi up 1.7% to 2,806.86
  • STOXX Europe 600 up 0.2% to 396.34
  • German 10Y yield rose 4.8 bps to -0.547%
  • Euro up 0.09% to $1.2198
  • Brent Futures down 0.2% to $51.09/bbl
  • Italian 10Y yield rose 3.0 bps to 0.474%
  • Spanish 10Y yield rose 2.4 bps to 0.074%
  • Brent Futures down 0.4% to $51.01/bbl
  • Gold spot up 0.3% to $1,877.77
  • U.S. Dollar Index down 0.2% to 90.25

Top Overnight News from Bloomberg

  • The U.K. and the European Union are on the verge of unveiling a historic post-Brexit trade accord as negotiators work through the night to put the finishing touches to a compromise. Prime Minister Boris Johnson is planning a press conference on Christmas Eve after he’s touched base with Commission President Ursula von der Leyen
  • President Donald Trump on Wednesday vetoed the $740.5 billion U.S. defense policy bill, touching off a battle with Congress that could end in his first override by lawmakers, with House Speaker Nancy Pelosi promising action next week
  • House Minority Leader Kevin McCarthy told fellow Republicans Wednesday that House Speaker Nancy Pelosi’s attempt to pass a bill boosting stimulus payments for individuals to $2,000 will fail, according to a person who participated in a private call with GOP House members
  • The Chinese yuan regained some traction as a global payments currency last month — although it continues to trail its biggest developed-market peers — while the euro slipped back behind the dollar as the pre-eminent medium of exchange
  • Oil was poised for its first weekly loss since October as the discovery of a potentially faster-spreading variant of Covid-19 in the U.K. raised the risk of more energy demand- sapping lockdowns.

A look at global markets courtesy of Newsquawk

Asian markets traded mostly higher following a similar lead from Wall Street, whereby the S&P and Dow closed in the green but off best levels amid year-end profit taking coupled with holiday-thinned trading conditions. US equity futures overnight remained stable and Eurex is today closed for trading in all derivatives. Over in Asia-Pac, the ASX 200 (+0.3%) was led higher by gains across some of the cyclical names, with its heavyweight financial sector also underpinning the index throughout the session. Nikkei 225 (+0.5%) was also supported by cyclical stocks but with upside somewhat hindered by a pullback in Softbank shares, whilst South Korea’s KOSPI (+1.7%) extended on opening gains after the country reported less than 1,000 COVID-19 cases. Elsewhere, the Shanghai Composite (-0.6%) moved between gains as losses following a tepid liquidity injection by the PBoC and against the backdrop of heightened tensions with Washington, whilst the Hang Seng (+0.2%) was initially dragged lower by losses in heavyweight Alibaba, whose shares fell over 5% at the open and extended on losses, after China announced a probe into the Co. over suspected monopoly, although the index then conformed to the broader gains across stocks. Finally, 10yr JGB futures were mostly softer amid the gains across equities, with the Japanese curve broadly steeper.

Top Asian News

  • China Probes Alibaba Group on Suspected Monopoly
  • Asian Stocks Rise for Second Day as Tech Shares Keep Rallying
  • Iran Sees $25b in Petchems Revenue in 2022, up From $11b in 2014

In Europe, with several markets closed across the region ahead of the festive break, price action in the equity space has been relatively contained thus far. Of the indices open, the FTSE 100 (+0.1%) has trimmed its modest opening gains with investor sentiment in the UK solely focused on the expected pending announcement of a Brexit deal. Despite some minor details on fishing that are still to be resolved and a delay in the announcement of the deal, it appears that the prospect of a no deal has now been avoided. Accordingly, most of the FTSE 100’s gainers are comprised of the typical Brexit-sensitive names with banking stocks such as Lloyds (+5.4%), Barclays (+2.7%) and Natwest Group (+1.9%) firmer on the session. Additionally, homebuilders are also cheering the news with Berkeley Group (+3.7%), Persimmon (+2.5%) and Barratt Developments (+2.8%) trading higher. Note, the more domestically focused FSTE 250 trades higher to the tune of 0.5%. Elsewhere, there’s not much worth highlighting in Europe with the CAC 40, FSTE MIB and IBEX all near the unchanged mark on the session. Stateside, ahead of the early close, US futures are modestly firmer (e-mini S&P +0.2%) with the only notable incremental news over the past 24 hours being events on Capitol Hill as President Trump’s intervention on the COVID relief/stimulus bill poses a headwind to progress. In terms of the latest updates, House Democrats plan to try to plan to pass USD 2,000 stimulus payment via unanimous consent today. If that does not work, they will push a bill on Monday to increase the USD 600 payment in the existing relief package to USD 2,000, according to WaPo’s Stein. Unsurprisingly, reports suggest that GOP Leader McCarthy will object to this. Additionally, in a move that will be opposed by Democrats, McCarthy plans to offer a new CR (Continuing Resolution) separating State and foreign aid from the omnibus.

Top European News

  • U.K., EU Set to Announce Brexit Trade Deal After Fish Compromise
  • U.K. Banks, Homebuilders Rise as Market Awaits a Brexit Deal

In FX, notwithstanding, all the missed deadlines, dashed hopes and disappointments, the Pound remains elevated if not effused with Brexit deal optimism in line with overwhelming odds via bookmakers that negotiators from London and Brussels will get over the line this time. Indeed, Cable has probed above 1.3600 and to within striking distance of the 1.3625 ytd high, while Eur/Gbp is back below 0.9000 awaiting confirmation of a post-transition agreement via UK PM Johnson and European Commission President von der Leyen, assuming no leaks and tweets before their official joint news conference, which is expected at some unspecified time. It goes without saying that Sterling could be prone to a buy rumour and sell fact set-back even if a pact is forthcoming, while the reaction to yet another false dawn will doubtless be pronounced to the point of immeasurable given seasonally sparse liquidity.

  • USD – In stark contrast to the Pound, albeit partly as a result, the Dollar continues to limp towards Xmas and the New Year, with the DXY fending off numerous assaults on the 90.000 mark and only just keeping afloat of the 2020 low at 89.723 between 90.151-313 parameters. Aside from Cable’s exertions, the Greenback has lost safe-haven appeal broadly and barring any last minute shocks on the election front, looks set for life under a Democratic President that promises to be more fiscally expansive. Meanwhile, after benefiting from heightened demand when the first wave of COVID-19 sparked a FTQ and liquidity squeeze, the Buck has been in a virtual and almost constant downward spiral from a 102.99 peak in index terms at the end of Q1. Moreover, any month end selling for portfolio rebalancing could be compounded by quarter and year end positioning, while the Fed is sticking to an accommodative and it remains to be seen how forcefully the incoming Biden administration (assuming he is formally sworn in of course) bangs the strong Dollar drum.
  • AUD/NZD – The next best G10 currencies, as the Aussie and Kiwi revisit round numbers at 0.7600 and 0.7100 respectively amidst the aforementioned Greenback travails, but with the former also drawing some encouragement from China looking at lowering an array of import tariffs to compensate for other goods, like beef, barely, beer and wine that have been embargoed, suspended of subject to high tariffs.
  • EUR/CAD/CHF/JPY – All narrowly mixed vs their US counterpart, with the Euro straddling 1.2200 against the backdrop of heightened Brexit accord expectations that are providing tailwinds for the headline pair to offset some of the Eur/Gbp headwinds, while the Loonie is holding within a 1.2852-31 range ahead of Canadian building permits that might provide some independent impetus given no scheduled US data. Elsewhere, the Franc is hovering just over 0.8900 and Yen under 103.50 following more jawboning from Japan about 100.00 forming a line in the sand (per former currency official Watanabe in wake of current PM Suga last weekend).

In commodities, WTI and Brent have, unsurprisingly in the holiday conditions, lacked clear direction or impetus and as such are in relative proximity to the unchanged mark. Fundamentally, updates explicitly for the complex have been incredibly sparse with attention focused more on the macro themes of Brexit and the progression of fiscal aid stateside following the veto ‘threat’ by the POTUS; focus points that are likely to capture attention for the remainder of the session given the light calendar. In terms of precious metals action has been relatively contained with spot gold and silver are only modestly supported by the softer USD; perhaps hindered somewhat by the imminent Brexit deal. Currently, the yellow metal is firmer by ~USD 3/oz and is towards the top-end of a USD 10/oz range in a continuation of the similarly lacklustre APAC performance.

US Event Calendar

  • Nothing scheduled

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 19.21 PTS OR  57%   //Hang Sang CLOSED UP 43.46 PTS OR .17%    /The Nikkei closed UP 143.56 POINTS OR 0.56%//Australia’s all ordinaires CLOSED UP 0.36%

/Chinese yuan (ONSHORE) closed /Oil UP TO 47.65 dollars per barrel for WTI and 50,72 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT PARIS//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5302. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5220 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/USA

4/EUROPEAN AFFAIRS

UK/EU

They are getting close but still no deal

(zerohedge)

Pound Leaks As Hopes For Brexit Deal Before Christmas Eve Dinner Wane

THURSDAY, DEC 24, 2020 – 7:08

After another sleepless night for Brexit correspondents and diplomats on both sides of the English Channel, the British media is abuzz with talk about an imminent announcement of a trade deal between the UK and Brussels after Reuters broke news about a planned announcement earlier. However, hopes for a deal in time for Christmas Eve dinner are wearing thin, as press briefings are repeatedly delayed, and talk of fishing quotas continues.

The pound climbed earlier this morning as some seemingly convincing details about the alleged ‘deal’ have been leaked to the press.

From what we can tell so far, the deal essentially preserves tariff-free trade for all goods, but does little for the ultra-important services sector (including the financial services industry, which has used COVID-19 to accelerate the shifting of jobs and resources to places like Dublin and Warsaw). Despite the visceral, mercantilist appeal that inspired some hard-core Brexiteers to push for an outright rejection of the Customs Union, it has been deemed politically unpalatable, and it seems like members of the European Research Group, a byword for the Tories “Brexiteer” faction which caused so much trouble for Theresa May, have let it go.

Instead, Boris Johnson and Ursula von der Leyen have crafted a “thin” – according to the Financial Times – trade deal that “will provide a legal platform upon which the two sides can rebuild relations more than four years after the trauma of the 2016 Brexit vote.”

The most important development over the last 48 hours – a period during which Johnson and von der Leyen have taken over talks to try and break the logjam – is, of course, related to the last of the “big three” controversies: fishing rights.

For Johnson and the British fishing industry, the good news is this: British officials say the deal is expected to see Britain’s share of the catch in its own waters increase from around half today to about 2/3rds during the transition (which will last until 2026, ten years after the original Brexit vote), after which, access will be negotiated during a process that we’re certain will be the focus of intense scrutiny in the British press, for reasons that will forever befuddle the rest of the world.

The “tit” for Brussels’ tat, is a new arbitration mechanism intended to ensure a “level playing field” – from the standpoint of similar standards on labor laws, environmental regs and other regulatory matters – for British industry, something that had been a non-negotiable demand from Brussels from the start. Importantly, the “mechanism” has a provision for sanctions in the form of tariffs if either side seriously undercuts the other’s regulations in areas such as environmental protection. Of course, the entire point of Brexit, according to many of its backers, was to get out from under Brussels’ regulatory thumb. If all goes well for the EU, this should make that much more difficult, but that remains to be seen: Johnson claims that this mechanism will provide both sides with a legal framework to diverge — Downing Street has already dubbed it “the freedom clause”,

The deal also reportedly solves the big “eleventh-hour” issue – electrical vehicle batteries – which according to reports threatened to scrap the whole thing and force the Brits to walk away in a huff just when a deal on fisheries finally appeared doable (thanks to some concessions from the European side, allegedly). Britain claims it has won concessions to make it possible for electric cars to be traded tariff-free even if a relatively high proportion of their components are from outside the EU and UK, Reuters reports.

Unfortunately, as the announcement is repeatedly delayed, No. 10 is telegraphing to reporters that officials on both sides are still working out “the details” on the fisheries agreement. These “details” involve quotas for various species of fish and shellfish. According to some reports,

According to the BBC, another call was just held between BoJo and von der Leyen a couple of hours ago during the early European morning. Now, the big question is are negotiators finally ‘for real’? Or will the ‘5-minutes-to-midnight-on-New-Year’s-Eve’ scenario really be how it plays out (if there’s a deal to be had at all).

The latest headlines, published just minutes ago, claim that talks continue with the two sides starting to doubt the whole ‘deal before dinner’ scenario. Then again, as fate would have it, a new viral strain has left Britain with borders seemingly blockaded by trucks. With some doubting the official word on this new COVID strain, is this politically sub-optimal state of affairs having an impact on British resolve?

Or is the Brexit fiasco finally a welcome distraction for all those stories about supermarket shelves running bare? Already, investors confidence in a deal is starting to decline, as cable’s recent dip might suggest.

Whatever happens, we hope people on both sides try to keep their heads, and enjoy what will undoubtedly be a memorable holiday.

end

Thousands of trucks still stranded in the UK as French Covid resting rules spark this chaos.

This is great for business!

(zerohedge)

1000s Of Trucks Still Stranded In UK As French COVID-Testing Rules Spark “Chaos”

THURSDAY, DEC 24, 2020 – 10:10

France announced the reopening of its borders with the UK late on Tuesday, ending a two-day closure prompted by fears of a fast-spreading coronavirus mutation in England.

As a result of the border shut down, thousands of truck drivers remain stranded in the UK, while France’s new public health measures require drivers to be tested before entering the country. 

France and Britain agreed on a rapid PCR (polymerase chain reaction) COVID-19 test that takes about 30 minutes, but that doesn’t necessarily mean the thousands of stranded truck drivers waiting to cross the channel will be resolved in a day’s time.

Despite the reopening of the borders, FT notes the backlog of trucks on Wednesday was in the thousands.

The situation was chaotic at the Port of Dover entrance, which was blocked throughout much of Wednesday by lorry drivers unable to board ferries because they did not have the tests demanded by the French government.

The UK government set up the main testing operation 20 miles away from Dover at Kent’s Manston airport, a disused facility where most of the stranded lorries were being held. -FT 

Drivers parked their trucks at Manston International Airport this week as they waited for coronavirus testing.

While BBC News said 3,000 trucks were in holding areas, the Department for Transport said the figure could be upwards of 5,000 trucks waiting to cross the English Channel.

According to the Road Haulage Association, the estimate could be as high as 10,000. 

The transport department told the haulage industry that it has the capacity at the moment to test 300 drivers per hour, and the backlog could be cleared up in the coming days.

Testing of the drivers is so massive that the UK government called in the military.

“This is a mammoth task and clearing the backlog will take time and patience,” said transport secretary Grant Shapps.

Even as the Channel Tunnel between the UK and France reopened early Wednesday morning, automobiles started flowing through, but it wasn’t until the afternoon when truck volumes started to increase.

“It’s only late this afternoon that volumes have picked up significantly,” Getlink, the company that operates the Channel Tunnel, said. 

Getlink expects freight volume through the tunnel will rise as trains will operate through the holiday session to reduce the backlog.

The chaotic situation at the Channel Tunnel has not been limited to just the UK side.

Weeks ago, we reported backlogs and other delays formed in France as companies rushed goods into the UK before Britain leaves the European Union Customs Union on Jan. 1.

Supply chains in some of Europe’s largest economies are a complete mess at the moment, aiding in the view that a robust economic recovery is nowhere to be found.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAN/USA

Trump threatens Iran after its latest attack on the uSA Baghdad embassy

(zerohedge)

Trump Tweets Surprise Threat To Iran After Latest Attack On Baghdad Embassy

WEDNESDAY, DEC 23, 2020 – 18:00

President Trump in a surprise late Wednesday tweet has directly blamed Iran for the Sunday rocket attack on the US Embassy in Baghdad, which according to prior reports involved eight ground-fired rockets targeting the compound.

It comes as the USS Georgia nuclear submarine is currently deployed to the Strait of Hormuz in very open signaling that the Pentagon is prepared to react to any possible escalationfrom the Islamic Republic.

Trump cited intelligence chatter in his latest statement on Twitter, saying, “Our embassy in Baghdad got hit Sunday by several rockets. Three rockets failed to launch. Guess where they were from: IRAN.”

He included a photograph of unexploded ordinance, which appears to depict some of the very rockets among the Sunday night volley which activated the embassy compound’s counter-rocket defense system. Apparently these failed to explode on impact.

“Now we hear chatter of additional attacks against Americans in Iraq,” Trump added, before warning that If one American is killed, I will hold Iran responsible. Think it over.”

Iran has repeatedly vowed of late to retaliate both for Soleimani’s killing (the one year anniversary of his Jan. 3, 2020 death is less than two weeks away) but also for the more recent death of top nuclear scientist Mohsen Fakhrizadeh, which leaders in Tehran have blamed on Israel and the US.

Below: Illustrative file image of prior December 31, 2019 attack on the US embassy widely blamed on Iran-back Iraqi paramilitary units.

Via AFP
Via AFP

With this latest tweet from the president and the ongoing build-up of tensions, are we about to witness a holiday “surprise” in the form of conflict in the Persian Gulf?

END

TURKEY

The Turkish lira rises as its Central bank raises rates by 200 basis points

(zerohedge)

Turkey Hikes By 200bps, More Than Expected

THURSDAY, DEC 24, 2020 – 7:31

The CBRT hiked its benchmark one-week repo rate by 200bps, more than the consensus economist forecast of 150bps, but in line with what some economists had argued was necessary with this year’s current account deficit heading over 5% of GDP amid elevated inflation pressures.

The CBRT also hiked the overnight lending rate from 16.50% to 18.50%, the late liquidity window rate from 19.50% to 21.50% and the overnight borrowing rate from 13.5% to 15.5%.

The bank pledged in its rates decision to maintain a tight stance until it sees “a permanent fall in inflation,” citing risks from a weak lira, domestic demand and commodity prices including food costs.

Key highlights (from Goldman):

  • The TCMB raised the policy rate (one-week repo rate) from 15% to 17%, in line with our expectation but somewhat above the consensus expectation of 16.5%. We think that this is a meaningful upside surprise, not in terms of the size of the hike, but because the TCMB raised its policy rate above the market rate and delivered further tightening, unlike the previous decision that was a mark-to-market. The Turkish Lira appreciated on impact.
  • The TCMB stated that the tightness of monetary stance will be decisively sustained until indicators strongly point to a permanent fall in inflation and price stability being achieved. This is similar to the November MPC meeting when the TCMB stated that the tightness of monetary policy stance will be decisively maintained until a permanent fall in inflation is achieved.
  • The TCMB noted that it is implementing “a strong monetary tightening” taking the end-2021 (inflation) forecast target into account in order to eliminate the risks to the inflation outlook, contain inflation expectations and restore the disinflation process as soon as possible. The reference to the end-2021 (9.4%yoy) forecast was new and the addition of “as soon as possible” provided a more hawkish tone to the Bank’s messaging.
  • The TCMB reiterated “…the exchange rate effects, increasing international food and other commodity prices and deterioration in inflation expectations” as factors continuing to affect (only “affect” in the previous MPC statement) the inflation outlook adversely. In the previous press release, the TCMB had pointed to a temporary rise in inflation in November. This time around, there was no information provided on near-term inflation. Our interpretation of these two changes is that the rise in inflation may be less temporary than previously thought.
  • The TCMB once again noted that the permanent establishment of a low inflation environment will contribute to macroeconomic and financial stability through a fall in the country risk premium, accumulation of FX reserves, a decline in financing costs and the beginning of reverse currency substitution — the expression used for the latter in the November press release was the reversal of the dollarisation trend.
  • The TCMB stated that the national income data and indicators for Q4 point to a strong course in economic activity but added that the restrictions are creating uncertainties for the short-run outlook for economic activity, especially for the services sector. The TCMB also reiterated that strengthening domestic demand due to high credit growth increases the current account. Interestingly, there were no references to the recent moderation in loan growth and its impact on the economy or the current account deficit.
  • Back in October, we laid out two scenarios: Our base case where the policy rate reaches 17% and a soft landing is achieved, and a risk case where the required tightening is delayed, resulting in more volatility and eventually higher rates. With the decision today, as well as the ongoing moderation in loan growth and the rise in deposit rates suggesting that monetary policy transmission is taking place, we think that the policy rate has reached its peak. Nevertheless, we also think that this will ultimately depend on depositors’ behavior rather than monetary policy making the optimal output gap/inflation trade-off. If the recent decisions and policy actions are not enough to restore domestic confidence and prevent further dollarisation, further rate hikes may still be needed. We also think that the TCMB will maintain the policy rate of 17% throughout 2021 as we forecast inflation to fall from around 15% to 12.5% only at the end of next year.

Having ended its experiment with Erdoganomics two months ago – which tried to keep inflation lower by cutting rates – and which led to a sharp 5% rate hike on Nov 11, the CBRT press release justified the rate hike as follows: “in order to eliminate risks to the inflation outlook, contain inflation expectations and restore the disinflation process as soon as possible.”

“It was good for the Turkish central bank to provide a slightly stronger push to rates than the consensus was expecting,” said Cristian Maggio, head of emerging markets at TD Securities in London. “It shows that the central bank is getting serious about inflation. They are not doing the bare minimum.”

While new CBRT governor Naci Agbal’s first move, when he raised the benchmark by the most in over two years to 15%, was in line with estimates and managed to stabilize the lira, the actual tightening in monetary stance was somewhat symbolic because as Bloomberg notes, “it brought the benchmark rate to around the central bank’s average cost of funding at the time.” His first step as governor also ended a complex rate-corridor structure criticized for its use of multiple rates and lack of transparency, moving Turkey to a more orthodox framework where all funding is provided through the benchmark.

Subsequent economic data illustrated why investors wanted to see more. Inflation in November climbed more than expected as the lira’s depreciation filtered through to prices, cutting the real interest rate by more than half to about one percentage point and curbing the lira’s appeal as a carry trade. Yet despite the rate hike, Turks remained reluctant to convert their savings to liras, so foreign-currency deposits continued to rise in December.

Looking ahead, the central bank states that “in the forthcoming period, tightness of monetary policy stance will be decisively sustained until strong indicators point to a permanent fall in inflation in line with the targets and to price stability.” While some FX strategists argue that further tightening cannot be ruled out, Goldman counters that “with the decision today, as well as the ongoing moderation in loan growth and the rise in deposit rates suggesting that monetary policy transmission is taking place, we think that the policy rate has reached its peak.”

The USDTRY traded from around 7.65 to as low as 7.56 in kneejerk response, with some FX strategists noting that the the pair could move further toward support at 7.51 though quiet holiday liquidity conditions may limit the scope for market moves today.

END

Turkey is trying to assert its muscle in the Middle East.  The problem is that financially it is having mega troubles

(Strategic Culture Foundation)

Will Erdogan’s Turkey Recreate The Ottoman Empire?

THURSDAY, DEC 24, 2020 – 2:00

Via The Strategic Culture Foundation,

Under President Erdogan Turkey is being reconfigured from a secular republic to a resurgent neo-Ottoman state, reinforced with a strong religious identity.

Turkey is playing an increasingly prominent role in regional affairs not refraining from direct military involvement and setting up military bases across the region.

It is also known to support such radical Islamist groups as Muslim Brotherhood, which led to a rift with Egypt and alignment with Qatar.

In addition, Turkey challenges both its NATO allies, like the United States, France or Germany, and strategic partners, such as Russia.

Will Turkey reassert itself as a great power restoring its former glory or will imperial overstretch ruin Mr. Erdogan’s project?

end

6.Global Issues

These crackpots delete naturally acquired immunity from its website  (herd immunity)

Pay no attention to these bozos

Tucker/American Institute for Economic Research)

WHO Deletes Naturally Acquired Immunity from Its Website

THURSDAY, DEC 24, 2020 – 7:50

Authored by Jeffrey Tucker via The American Institute for Economic Research,

Maybe you have some sense that something fishy is going on? Same. If it’s not one thing, it’s another. 

  • Coronavirus lived on surfaces until it didn’t.
  • Masks didn’t work until they did, then they did not.
  • There is asymptomatic transmission, except there isn’t.
  • Lockdowns work to control the virus except they do not.
  • All these people are sick without symptoms until, whoops, PCR tests are wildly inaccurate because they were never intended to be diagnostic tools.
  • Everyone is in danger of the virus except they aren’t.
  • It spreads in schools except it doesn’t.

On it goes. Daily. It’s no wonder that so many people have stopped believing anything that “public health authorities” say. In combination with governors and other autocrats doing their bidding, they set out to take away freedom and human rights and expected us to thank them for saving our lives. At some point this year (for me it was March 12) life began feeling like a dystopian novel of your choice.

Well, now I have another piece of evidence to add to the mile-high pile of fishy mess. The World Health Organization, for reasons unknown, has suddenly changed its definition of a core conception of immunology: herd immunity. Its discovery was one of the major achievements of 20th century science, gradually emerging in the 1920s and then becoming ever more refined throughout the 20th century.

Herd immunity is a fascinating observation that you can trace to biological reality or statistical probability theory, whichever you prefer. (It is certainly not a “strategy” so ignore any media source that describes it that way.) Herd immunity speaks directly, and with explanatory power, to the empirical observation that respiratory viruses are either widespread and mostly mild (common cold) or very severe and short-lived (Ebola).

Why is this? The reason is that when a virus kills its host, it cannot migrate. The more aggressively it does this, the less it spreads. If the virus doesn’t kill its host, it can hop to others through all the usual means. When you get a virus and fight it off, your immune system encodes that information in a way that builds immunity to it. When it happens to enough people (and each case is different so we can’t put a clear number on it) the virus loses its pandemic quality and becomes endemic, which is to say predictable and manageable. Each new generation incorporates that information through more exposure.

This is what one would call Virology/Immunology 101. It’s what you read in every textbook. It’s been taught in 9th grade cell biology for probably 80 years. Observing the operations of this evolutionary phenomenon is pretty wonderful because it increases one’s respect for the way in which human biology has adapted to the presence of pathogens without absolutely freaking out.

And the discovery of this fascinating dynamic in cell biology is a major reason why public health became so smart in the 20th century. We kept calm. We managed viruses with medical professionals: doctor/patient relationships. We avoided the Medieval tendency to run around with hair on fire but rather used rationality and intelligence. Even the New York Times recognizes that natural immunity is powerful with Covid-19, which is not in the least bit surprising.

Until one day, this strange institution called the World Health Organization – once glorious because it was mainly responsible for the eradication of smallpox – has suddenly decided to delete everything I just wrote from cell biology basics. It has literally changed the science in a Soviet-like way. It has removed with the delete key any mention of natural immunities from its website. It has taken the additional step of actually mischaracterizing the structure and functioning of vaccines.

So that you will believe me, I will try to be as precise as possible. Here is the website from June 9, 2020. You can see it here on Archive.org. You have to move down the page and click on the question about herd immunity. You see the following.

That’s pretty darn accurate overall. Even the statement that the threshold is “not yet clear” is correct. There are cross immunities to Covid from other coronaviruses and there is T cell memory that contributes to natural immunity.

Some estimates are as low as 10%, which is a far cry from the modelled 70% estimate of virus immunity that is standard within the pharmaceutical realm. Real life is vastly more complicated than models, in economics or epidemiology. The WHO’s past statement is a solid, if “pop,” description.

However, in a screenshot dated November 13, 2020, we read the following note that somehow pretends as if human beings do not have immune systems at all but rather rely entirely on big pharma to inject things into our blood.

What this note at the World Health Organization has done is deleted what amounts to the entire million-year history of humankind in its delicate dance with pathogens. You could only gather from this that all of us are nothing but blank and unimprovable slates on which the pharmaceutical industry writes its signature. 

In effect, this change at WHO ignores and even wipes out 100 years of medical advances in virology, immunology, and epidemiology. It is thoroughly unscientific – shilling for the vaccine industry in exactly the way the conspiracy theorists say that WHO has been doing since the beginning of this pandemic.

What’s even more strange is the claim that a vaccine protects people from a virus rather than exposing them to it. What’s amazing about this claim is that a vaccine works precisely by firing up the immune system through exposure. Why I had to type those words is truly beyond me. This has been known for centuries. There is simply no way for medical science completely to replace the human immune system. It can only game it via what used to be called inoculation.

Take from this what you will. It is a sign of the times. For nearly a full year, the media has been telling us that “science” requires that we comply with their dictates that run contrary to every tenet of liberalism, every expectation we’ve developed in the modern world that we can live freely and with the certainty of rights. Then “science” took over and our human rights were slammed. And now the “science” is actually deleting its own history, airbrushing over what it used to know and replacing it with something misleading at best and patently false at worst.

I cannot say why, exactly, the WHO did this. Given the events of the past nine or ten months, however, it is reasonable to assume that politics are at play. Since the beginning of the pandemic, those who have been pushing lockdowns and hysteria over the coronavirus have resisted the idea of natural herd immunity, instead insisting that we must live in lockdown until a vaccine is developed.

That is why the Great Barrington Declaration, written by three of the world’s preeminent epidemiologists and which advocated embracing the phenomenon of herd immunity as a way of protecting the vulnerable and minimizing harms to society, was met with such venom. Now we see the WHO, too, succumbing to political pressure. This is the only rational explanation for changing the definition of herd immunity that has existed for the past century.

The science has not changed; only the politics have. And that is precisely why it is so dangerous and deadly to subject virus management to the forces of politics. Eventually the science too bends to the duplicitous character of the political industry.

When the existing textbooks that students use in college contradict the latest official pronouncements from the authorities during a crisis in which the ruling class is clearly attempting to seize permanent power, we’ve got a problem. 

END

CORONAVIRUS UPDATE USA/GLOBE

US Hospitalizations Hit New Record As “Mutant” COVID Strain Found In Singapore: Live Updates

THURSDAY, DEC 24, 2020 – 11:34

Summary:

  • Singapore confirms first case of UK virus strain
  • US hospitalizations hit new record
  • Brazil study shows China vaccine 50% effective
  • India confirms 24K+ new cases
  • China confirms 17 new cases
  • NY extends eviction moratorium
  • Sydney residents asked to “limit mobility”

* * *

As we head further into what’s already been a busy day before Christmas (a day when markets close early and many Americans take off from work), millions of Americans, and other Christians around the world, are preparing to celebrate a holiday that, for many, will probably be a markedly different holiday than what they’re accustomed to.

According to Johns Hopkins, global cases have reached 78.6MM, while the worldwide death toll is nearing 1.8MM.

In the UK, a Brexit deal has finally been reached, but citizens are seemingly more concerned with the line of lorries at the border and news reports about super-infectious COVID-19 mutations prompt people to doubt or question the efficacy of vaccines (despite all that trial data) than about fisheries, especially after Britain reported a record 39K+ new cases the other day.

In the US (and the rest of the world) the situation isn’t much better. China has joined the list of countries that has cut off some or all travel/trade with the UK by halting passenger flights over fears tied to the new viral “variant”. Singapore, meanwhile, has become the latest country to confirm its first case of the UK variant.

While Mexico administered the first dose of a non-trial COVID vaccine in Latin America, a vaccine developed by China’s Sinovac Biotech was found to be more than 50% effective in a Brazilian clinical trial. That number, which is much lower than the 90%+ numbers reported by Pfizer, Moderna and, of course, Russia’s Gamaleya Institute (which developed “Sputnik V”) was released without key supporting data, potentially delaying deployment of the shot in the west. Rival Sinopharm, meanwhile, submitted an application to have its vaccine approved by Chinese authorities, a local website said. According to a count maintained by Bloomberg, nearly 3MM people worldwide have been vaccinated (figures that likely leave out millions given the vaccine on an “emergency” basis in China).

According to JHU figures, US hospitalizations hit a fresh record high of 115K+, while the number of new cases and deaths declined off of recent records.

The 7-day average for hospitalizations hit a new record as well.

As the world waits to learn more about the new virus strains discovered in the UK and South Africa, here’s some more COVID news from Thursday morning:

New York Governor Andrew Cuomo said he will extend the state’s moratorium on evictions, which is set to expire Jan. 1. Cuomo also implored federal officials to do more to stop or contain the spread of the new Covid-19 variant reported in the U.K, such as blocking flights from that country or requiring those passengers to test negative before boarding planes.

India reports 24,712 new cases in the past 24 hours, up from 23,950 for the previous day, bringing the country total to 10.12 million.

Millions of Sydney residents have been asked to limit their mobility over Christmas, with some families in lockdown and indoor gatherings limited to 10 visitors, as officials try to contain an outbreak that has reached 100 transmissions.

South Korea has signed deals with Pfizer and Johnson & Johnson’s Janssen to import coronavirus vaccines, enough for 10 million people from Pfizer and for 6 million from Janssen, Prime Minister Chung Sye-kyun says.

China records 17 new cases for Wednesday, up from 15 the previous day. Of the new cases, 11 were imported. The six locally transmitted cases are in the northeastern province of Liaoning.

In one of his many TV interviews, Dr. Fauci said Thursday that he has been working 7-days a week, 16+ hours a day since January, nobly marshaling the federal effort to combat the coronavirus. We can’t help but wonder: is that an actual accounting of Dr. Fauci’s media screen time?

7. OIL ISSUES

end

8 EMERGING MARKET ISSUES

SOUTH AFRICA/CORONAVIRUS UPDATE

Another new strain( 501.V2) in South Africa which is also more transmissible but probably less virulent.

However the public are getting very anxious on this.  The variant is probably a couple of amino acids and nothing to worry about.

(Michael Snyder/EconomicCollapse blog)

We’re Being Told South Africa’s “Scary” Mutant COVID Is Even More Dangerous Than The UK’s “Super COVID”

THURSDAY, DEC 24, 2020 – 9:00

Authored by Michael Snyder via The Economic Collapse blog,

A new mutant strain of COVID-19 that has been dubbed “501.V2” has gotten completely out of control in South Africa, and authorities are telling us that it is an even bigger threat than the “Super COVID” that has been causing so much panic in the United Kingdom.  Of course viruses mutate all the time, and so it isn’t a surprise that COVID-19 has been mutating.  But mutations can become a major issue when they fundamentally alter the way that a virus affects humans, and we are being told that “501.V2” is much more transmissible than previous versions of COVID and that even young people are catching it a lot more easily.  That is potentially a huge concern, because up until now young people have not been hit very hard by the COVID pandemic.

The British press is using the word “scary” to describe this new variant, and at this point it has become the overwhelmingly dominant strain in South Africa…

The new mutant, called 501.V2, was announced in Cape Town last Friday and is believed to be a more extreme variant than Britain’s new Covid strain which has plunged millions into miserable Christmas lockdowns.

Cases in South Africa have soared from fewer than 3,000 a day at the start of December to more than 9,500 per day, with the mutant accounting for up to 90 percent of those new infections.

If this same pattern happens elsewhere as this new mutant strain travels around the globe, then “501.V2” could eventually almost entirely replace all of the older versions of COVID.

Authorities are optimistically telling us that the recent vaccines that have been developed will “likely” work against this new variant, but the truth is that they will not know until testing is done.

And if the vaccines don’t work against “501.V2”, we could be back to square one very rapidly.

For now, countries all over the globe are banning flights from South Africa in a desperate attempt to isolate this new version.  The UK, Germany, Switzerland, Turkey and Israel are among the nations that have banned those flights, but so far the United States is not on that list.

So people that are potentially carrying this new version of COVID continue to enter the U.S. on a daily basis.

For the United Kingdom, this flight ban may have come too late because two cases of “501.V2” have already been identified on British soil

Two cases of a new, “more transmissible” COVID-19 variant linked to South Africa have been identified in the UK, the health secretary has said.

Both cases are contacts of people who travelled from South Africa over the last few weeks, Matt Hancock said at a Downing Street news conference.

If the new vaccines are effective against “501.V2”, authorities believe that they already have the long-term answer to this new variant.

But if those vaccines don’t work, this pandemic could be entering a far more deadly new phase.

And of course we are hearing about more problems with these new vaccines on a daily basis.  Thousands of adverse reactions have already been reported to the CDC, and more reports continue to pour in as more people get the shots.  Here is one example from New York City

A health care worker in New York City had a serious adverse reaction to a coronavirus vaccine, officials said on Wednesday.

New York City Health Commissioner David Chokshi said during a news conference that the unidentified worker experienced a “significant allergic reaction” to the vaccine. He added that the worker was treated for the reaction, and is in stable condition and recovering.

We should not be surprised that there are major issues with experimental mRNA vaccines that are based on entirely new technology that were rushed into production without proper testing.

And of course there are tens of millions of Americans that will never take any mRNA vaccine that literally “hijacks your cells” under any circumstances.

On the other hand, most of the U.S. population seems to think that these new vaccines will bring this pandemic to an end, but if they don’t work against new mutant versions of the virus that won’t be true at all.

It is so important to take a balanced view of these things.

Unfortunately, when it comes to COVID most people fall into two camps.

The first camp is totally freaked out because they think that COVID is about the worst thing that could ever happen to the United States and they tend to favor extremely draconian measures to prevent the spread of the virus.

But the truth is that the COVID pandemic pales in comparison to other great pandemics throughout human history.  The Black Plague and the Spanish Flu Pandemic each killed at least 50 million people.  As for the COVID pandemic, the global death toll has not reached the 2 million mark even if the official numbers are accurate.  If a pandemic of this nature is freaking people out so much, what is going to happen when a truly killer plague is unleashed in our society?

The second camp either thinks that the pandemic is greatly exaggerated or that the virus doesn’t even exist at all.  Even though hordes of people are catching the virus all around us, many out there continue to deny the reality of this crisis.

I simply do not understand that.  So many people that I know around the country have gotten the virus, and that includes quite a few big names.  For example, the following is an excerpt from an article in which Daisy Luther shares what her experience with COVID was like

Days 3-5: Over the next three days, chills and fever were almost constant. My joints and muscles hurt. Getting up to go to the bathroom felt like an expedition up a mountain.  I was tired and winded. I had very little appetite and even less of an inclination to cook food so I existed mostly on peanut butter and crackers and leftover soup. I was absolutely exhausted and so cold that I shivered violently when I got out from under my bed piled high with blankets. I had super-weird dreams. My cough worsened, my head hurt, and my throat was still mildly sore.

I drank lots of water and electrolyte beverages. My thirst remained unquenchable regardless of how much I drank. I took vitamins (C, D3) and took Zinc supplements. These are my regular supplements but I doubled that.

Days 6-9: The line to get a test at the local clinic was long and filled with people who were coughing up a lung. There was no way I’d be able to stand in that line for an hour, as sick as I felt. Besides, I figured if I didn’t have Covid, I’d get it standing in the line so I opted not to be tested.

This part made me think of the worst case of the flu I ever had, except intensified by about four times. It was terrible.

I usually let a fever run its course but by Saturday I felt so awful that I gave in and began treating symptoms. My normal temp is in the 96s and my temperature throughout these days stayed between 101-103. I staggered ibuprofen and acetaminophen, and I also used a mild muscle relaxant and my Ventilyn inhaler. The meds didn’t get rid of my fever but reduced the chills to a tolerable level. I slept almost around the clock, waking up for a couple of hours here and there to check on website stuff. Fortunately, I have a wonderful team who kept things running for us. One day blurred into the next and I considered going to the doctor again, but couldn’t muster the energy. I felt like if I just got a little more sleep I’d be okay.

My cough was getting far worse and now my ribs and abdominal muscles hurt. It was a deep painful cough that caused me to clutch my chest every single time inhaled deeply.

So to summarize, yes the COVID pandemic is real, but it is not the end of the world.

More people are going to get sick, and some will suffer intensely, but the vast majority of those that get the virus will survive.

If you want to wear a mask, then wear a mask.

If you don’t want to wear a mask, then don’t wear a mask.

We should be free to make our own choices, and we should also be free to experience the consequences for those choices.

Unfortunately, there are way too many people out there that think that they have the right to censor and control what we say and what we do, and that trend is likely to only get worse as our society continues to spin out of control in the years ahead.

*  *  *

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

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

Euro/USA 1.2191 DOWN .0002 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 MOSTLY GREEN EXCEPT FRANCE

USA/JAPAN YEN 103.64 UP 0.113 (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 1.3577   UP   0.0066  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/BREXIT JAN 1/21

USA/CAN 1.2843 DOWN .0005 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  THURSDAY morning in Europe, the Euro FELL BY 2 basis points, trading now ABOVE the important 1.08 level FALLING to 1.2191 Last night Shanghai COMPOSITE DOWN 19.21 PTS OR .57% 

//Hang Sang CLOSED UPP 43.46 PTS OR .17% 

/AUSTRALIA CLOSED UP 0,36%// EUROPEAN BOURSES ALL GREEN EXCEPT PARIS CAC

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN EXCEPT PARIS CAC

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 43.46 PTS OR .17% 

/SHANGHAI CLOSED DOWN 19.21 PTS OR .57% 

Australia BOURSE CLOSED UP 0.36% 

Nikkei (Japan) CLOSED UP 143.56  POINTS OR 0.54%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1876.00

silver:$25.73-

Early THURSDAY morning USA 10 year bond yield: 0.942% !!! DOWN 1 IN POINTS from WEDNESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.683 DOWN 0  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 90.28 DOWN 14 CENT(S) from  WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  THURSDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.06% DOWN 0 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.02.%  UP 1   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.09%//UP 4 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.60 UP 2 points in basis points yield from yesterday./

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

GERMAN 10 YR BOND YIELD: FALLS TO –.55% 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 THURSDAY

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

Euro/USA 1.2183  DOWN     .0011 or 11 basis points

USA/Japan: 103.67 UP .133 OR YEN UP 13  basis points/

Great Britain/USA 1.3546 UP .0033 POUND UP 33  BASIS POINTS)

Canadian dollar UP 13 basis points to 1.2844

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed UP AT 6.5301    ON SHORE  (UP)..GETTING DANGEROUS

THE USA/YUAN OFFSHORE:  6.6173  (YUAN up)..GETTING REALLY DANGEROUS

TURKISH LIRA:  7.57  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.02%

Your closing 10 yr US bond yield DOWN 1 IN basis points from WEDNESDAY at 0.942 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.676 DOWN 1 in basis points on the day

Your closing USA dollar index, 90.34 down 7  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 11.65  0.32%

German Dax :  CLOSED UP 169.12 POINTS OR 1.26%

Paris Cac CLOSED DOWN 5.58 POINTS 0.10%

Spain IBEX CLOSED UP 37.90 POINTS or 0.47%

Italian MIB: CLOSED UP 285.85 POINTS OR 1.31%

WTI Oil price; 48.00 12:00  PM  EST

Brent Oil: 51.08 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    74.05  THE CROSS LOWER BY 0.95 RUBLES/DOLLAR (RUBLE HIGHER BY 95 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.55 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 :  48.00//

BRENT :  51.08

USA 10 YR BOND YIELD: … 0.942..down 1 basis points…

USA 30 YR BOND YIELD: 1.676 down 1 basis points..

EURO/USA 1.2183 ( DOWN 11   BASIS POINTS)

USA/JAPANESE YEN:103.67 UP .133 (YEN DOWN 13 BASIS POINTS/..

USA DOLLAR INDEX: 90.34 down 7 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3546 UP 33  POINTS

the Turkish lira close: 7.57

the Russian rouble 74.05   up 0.95 Roubles against the uSA dollar. (up 95 BASIS POINTS)

Canadian dollar:  1.2832 DOWN 20 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.55%

The Dow closed DOWN 134.09 POINTS OR 0.48%

NASDAQ closed DOWN 251.49 POINTS OR 2.22%


VOLATILITY INDEX:  27.20 CLOSED UP .50

LIBOR 3 MONTH DURATION: 0.234%//libor dropping like a stone

USA trading today in Graph Form

BABA Battered, Brexit Breakthrough, & Bailout Busted – Buck & Bond Yields Drop

THURSDAY, DEC 24, 2020 – 13:00

Jack Ma might be (or have been) the richest man in China, but right now he is learning the hard way, you don’t mess with the gods. Since his criticism of China’s financial regulations during an appearance at a high-profile industry conference in October, he has seen his Ant Group IPO cancelled, regulatory crackdowns on lending (the company’s main business), and last night saw further action by Chinese officials investigating anti-trust violations. These actions have clubbed the giant Chinese tech firm (and Ma’s wealth) like a baby seal…its worst day ever!

Of course, in response, this happened…

Perhaps more is to come, as hedge fund manager Kyle Bass, a prominent China critic, speculated that Ma isn’t actually retiring – rather, his carefully choreographed decision to step down is the result of being “forcibly removed from his position, stripped of his shareholdings (transferred to “five unnamed individuals” with the same address), and will likely be jailed or ‘disappeared’ within the next year.”

We guess Emperor-for-life trumps ‘untouchable’ oligarch. Still , could be worse… you could be stuck in a truck in Dover for Xmas…

A lack of COVID Relief (after Trump poked the hornet’s nest of pork… to mix metaphors), sent stocks lower on the day, pushing S&P, Dow, and Nasdaq red for the week (and erasing some of Small Caps’ gains). Late-day ramp pushed Nasdaq and Dow back into the green…

Financials and Tech led on the week (and were the only sectors green on the week) while Energy lagged

Source: Bloomberg

VIX plunged to a 21 handle today, back at quad-witch spike lows…

Bonds were bid today, erasing yesterday’s spike and ending the week lower by 1-3bps…

Bonds were bid today, erasing yesterday’s spike and ending the week lower by 1-3bps…

Source: Bloomberg

Once again, it seems the invisible hand of ‘someone’ stepped in to hold yields back from breaking out…

Source: Bloomberg

The dollar slipped lower on the day, but higher on the shortened week…

The dollar slipped lower on the day, but higher on the shortened week…

Source: Bloomberg

As Cable rallied up to recent high stops on Brexit deal headlines…

Source: Bloomberg

Source: Bloomberg

Bitcoin was flatish this week, oscillating around the $23k-$24k mark…

Source: Bloomberg

But XRP was monkeyhammered after the SEC probe headlines, erasing all the year’s gains…

Source: Bloomberg

Commodities were mixed with PMs flat on the week but Copper and Crude lower as COVID-Lockdown Relief faded away and lockdowns spread around the world…

Source: Bloomberg

Gold managed to get back above its 50DMA…

Source: Bloomberg

But WTI managed to scramble back above $48 again…

Finally, have no fear… there’s no inflation (except in what you eat!!)…

Source: Bloomberg

And as real yields plunge back near record lows, gold is due to catch up (and has risen 16 of the last 20 years over the next week)…

Source: Bloomberg

And as if it matters, US economic data has been collapsing recently…

Source: Bloomberg

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

iii) Important USA Economic Stories

Shutdown Looms As Democrat Bid For $2,000 Relief Checks Fails House, Here’s What Happens Next

THURSDAY, DEC 24, 2020 – 9:38

House Democrats on Thursday failed to replace the $600 direct checks in the latest pandemic relief bill with $2,000 payments demanded by President Trump this week – which House Majority Leader Steny Hoyer (D-MD) sought to pass by unanimous consent, only to be blocked by House Republicans.

House Democrats will try again on Monday, with a new stand-alone bill for the $2,000 checks, according to House Speaker Nancy Pelosi (D-CA). The House will also attempt to override Trump’s veto of the National Defense Authorization Act as government funding is set to lapse.

To avoid a shutdown, the House could also pass another stopgap measure – however several pandemic relief measures will also run out between Saturday and Dec. 31, including $300 per week in bonus unemployment insurance and a moratorium on rent-related evictions.

Politico’s Jake Sherman opines on the next steps after Trump tossed lighter fluid and a match on GOP leaders, who largely failed to support his challenge to the November election:

end

Rand Paul’s annual airing of spending grievances

(Rand Paul/zerohedge)

“I Gotta Lot Of Problems” – Rand Paul’s 2020 Airing Of (Spending) Grievances

WEDNESDAY, DEC 23, 2020 – 16:20

Having been almost the lone voice of sanity this week in Washington as he lambasted the insane levels of ‘pork’ piled into the Spending/COVID Bill, Senator Rand Paul has turned his ire up to 11 with the release of his annual “airing of grievances” exposure of all that is bad and wasteful about America’s politics.

In a series of tweets, Dr.Paul offered little in the way of holiday cheer… that is sure to disgust many…

Take Congress…PLEASE! They have really outdone themselves this year with the massive special interest giveaway disguised as a relief bill. It is a disgrace in both the level of spending and the process they used to try to sneak it through. But this week’s pork-a-thon isn’t new.

My #Festivus Waste Report is now an unfortunate Holiday tradition, though a shameful one, if most legislators had any shame. Why? This one report details $54 BILLION in wasted spending.

The average taxpayer pays around $10,000 in taxes. That means they set the taxes of 5,471,368 people on fire this year. And that’s just want we could document in one little report, and doesn’t come close to counting the unconstitutional things Congress spends on.

What would $54 billion dollars of taxpayer money have funded if we had tried to use it properly?

One example, it would have built 456,221 miles of road.

It would have built TWO entire border walls with Mexico.

It could have funded the Department of the Treasury for three years, not that we really want to spend that much at Treasury.

Speaking of Treasury, I see Joe Biden says he intends to nominate Janet Yellen, former chair of the Federal Reserve to run the treasury. Talk about letting the fox in the henhouse. AUDIT THE FED! AUDIT THE TREASURY! AUDIT YELLEN AND BIDEN!! AUDIT EVERYTHING!

Ok, now that I got that off my chest, back to the waste report.

So this year, while the petty tyrants in many of our states closed the schools (against all science), Congress said oh, we can do better than that. So they spent $25 MILLION to teach English to rural, unemployed Romanians.

They also spent $36 million to study why hair turns gray. I have a few theories on that, and they all have to do with being in the U.S. Senate with people who vote for the things in this waste report.

They spent $1.5m to get Eastern Mediterranean kids to stop smoking hookah. Then they said hey, let’s go all out, and snuck a bunch of new rules about shipping vape products in the omnibus bill this week.

They spent $3m to interview San Franciscans about edible cannabis use. Really. They must not have spent a lot of time around people who love cannabis. You do NOT need to pay them to talk about it.

What’s next, government funding to get people to post more about their CrossFit and Keto programs?

The government is never content to just waste money normally. They have to really put their shoulders into it. So this year, the Defense Department spent $1 BILLION in funds intended for Covid relief on unrelated acquisitions.

In my favorite WTF moment of the #Festivus Waste report: Your government spent $4.5 million to spray alcoholic rats with bobcat urine.

I do this all day long, and I swear to God I don’t even know what that means.

Your betters have spent a lot of this year reminding you the rules don’t apply to them. French Laundry dinners. Traveling for holidays while promoting restrictions for you, the stories seem to come up all the time

It came up in the bill this week too when they spent $20 million to rebuild a runway for private planes on Nantucket.

This marks Dr. Paul’s sixth edition of the Festivus Report as he continues working to alert the American people to how their federal government uses their hard-earned money. This year, each story received a “Platinum Pig Award” that ranked the waste on a scale of 1-5 (with 5 being the most wasteful). Sections are broken down into Health Care; Foreign Aid; Environment, Energy, Science; Military; and Miscellaneous, and highlights include lizards on treadmills, losing over 100 drones in Afghanistan, and combating binge-watching.

Below is Senator Paul’s full ‘Festivus’ Report:

(SEE ZERO HEDGE)
END
Trump pardons Paul Manafort Roger Stone and Charles Kushner
(zerohedge)

Trump Pardons Paul Manafort, Roger Stone, Charles Kushner

WEDNESDAY, DEC 23, 2020 – 19:44

Just 24 hours after Donald Trump issued some 15 pardons and commutations, including former campaign aide George Papadopoulos, former US congressmen Duncan Hunter and Chris Collins, and the four Blackwater guards, on Wednesday the President issued a second batch of pardons in as many days, this time naming two former associates, Paul Manafort and Roger Stone, as well as Charles Kushner, the father of Trump’s son-in-law and adviser Jared Kushner.

Wednesday’s list also includes several people recommended by former Florida Attorney General Pam Bondi, who was part of Trump’s impeachment defense team, and Ike Perlmutter, the former CEO of Marvel Entertainment and a member of the president’s private Mar-a-Lago Club in Palm Beach, Florida, according to a statement from the White House.

Full statements below:

Paul Manafort – Today, President Trump has issued a full and complete pardon to Paul Manafort, stemming from convictions prosecuted in the course of Special Counsel Mueller’s investigation, which was premised on the Russian collusion hoax. Mr. Manafort has already spent two years in prison, including a stretch of time in solitary confinement — treatment worse than what many of the most violent criminals receive. As a result of blatant prosecutorial overreach, Mr. Manafort has endured years of unfair treatment and is one of the most prominent victims of what has been revealed to be perhaps the greatest witch hunt in American history. As Mr. Manafort’s trial judge observed, prior to the Special Counsel investigation, Mr. Manafort had led an “otherwise blameless life.” Since May, Mr. Manafort has been released to home confinement as a result of COVID-19 concerns.

* * *

Roger Stone – Today, President Trump granted a full and unconditional pardon to Roger Stone, Jr. President Trump had previously commuted Mr. Stone’s sentence in July of this year. Mr. Stone is a 68-year-old man with numerous  medical conditions. Due to prosecutorial misconduct by Special Counsel Mueller’s team, Mr. Stone was treated very unfairly. He was subjected to a pre- dawn raid of his home, which the media conveniently captured on camera. Mr. Stone also faced potential political bias at his jury trial. Pardoning him will help to right the  injustices he faced at the hands of the Mueller investigation.

* * *

Charles Kushner – President Trump granted a full pardon to Charles Kushner. Former United States Attorney for the District of Utah Brett Tolman and the American Conservative Union’s Matt Schlapp and David Safavian support a pardon of Mr. Kushner. Since completing his sentence in 2006, Mr. Kushner has been devoted to important philanthropic organizations and causes, such as Saint Barnabas Medical Center and United Cerebral Palsy. This record of reform and charity overshadows Mr. Kushner’s conviction and 2 year sentence for preparing false tax returns, witness retaliation, and making false statements to the FEC.

The latest list grants 26 full pardons and commutes all or part of the sentence of three additional individuals, after Trump on Tuesday issued 15 pardons and five commutations. Among those pardoned yesterday were two former Republican members of Congress, two targets of special counsel Robert Mueller’s Russia investigation, and four military contractors convicted in the 2007 killing of more than a dozen unarmed Iraqi civilians. Last month, Trump pardoned Michael Flynn, his first national security adviser.

Paul Manafort received the toughest sentence of any Trump associate entangled in special counsel Robert Mueller’s investigation into Russian interference in the 2016 election. Manafort, who has a long roster of foreign clients and has worked for many Republican presidential candidates — including George H. W. Bush and Ronald Reagan — was charged and found guilty of multiple counts of false income tax returns, failure to file reports of foreign bank accounts, and bank fraud related to activity from before he joined the Trump campaign. He was sentenced by a federal judge to seven years but was released to home confinement in early 2020 due to the COVID-19 pandemic. Manafort joined the Trump campaign in March 2016 as the campaign’s convention manager. He served as Trump’s campaign chairman from May 2016 until he resigned in August 2016.

“Mr. President, my family and I humbly thank you for the Presidential Pardon that you bestowed on me today. Words cannot adequately convey how grateful we are,” Manafort said in a statement following the pardon. “History will record that your Presidency accomplished more in 4 years than any of your modern-day predecessors. You truly did ‘Make America Great Again.'”

Roger Stone – a former campaign adviser to Donald Trump – had his 40-month prison sentence commuted in July by the president, days before he was scheduled to report to a federal penitentiary. The self-described political “dirty trickster” was charged and convicted on a seven-count indictment of obstructing justice, witness tampering and multiple counts of lying to Congress in special counsel Robert Mueller’s investigation into Russian meddling in the 2016 presidential election. Trump’s full pardon nullifies Stone’s conviction entirely.

“On behalf of my family and myself, I wish to praise God and give my deepest thanks to President Donald J. Trump for his extraordinary act of justice in issuing me a presidential pardon, ” Stone said in a statement following the announcement.

Charles Kushner, the father of President Trump’s son-in-law, Jared Kushner, pleaded guilty in 2005 to tax evasion, witness tampering and making illegal campaign contributions. He was sentenced to two years in prison but served only 14 months of that term. A nasty argument between Charles Kushner and his brother Murray led to charges of violations of campaign-finance rules as part of the same case. That led prosecutors to open an investigation into Charles’ conduct. Charles then tried to keep his sister from cooperating with prosecutors by setting up her husband with a prostitute, recording the encounter, and then threatening her with it. But that backfired when the sister handed over the tape. The elder Kushner had been one of the New York-New Jersey area’s leading Democratic donors and a key backroom political player in the late 1990s and early 2000s.

END
This is not good:  Biden will engage in many new threats against Russia.  This is reckless and dangerous. Biden
will use the Solar Winds hack by supposedly Russia as his main thrust.
(zerohedge)

With Biden’s New Threats, Russia Discourse More Reckless And Dangerous Than Ever: Greenwald

WEDNESDAY, DEC 23, 2020 – 19:40
Then-Vice President Joe Biden speaks at the Brookings Institute May 27, 2015 in Washington, DC spoke about the Russia-Ukraine conflict (Photo by Mark Wilson/Getty Images)

To justify Hillary Clinton’s 2016 loss to Donald Trump, leading Democrats and their key media allies for years competed with one another to depict what they called “Russia’s interference in our elections” in the most apocalyptic terms possible. They fanatically rejected the view of the Russian Federation repeatedly expressed by President Obama — that it is a weak regional power with an economy smaller than Italy’s capable of only threatening its neighbors but not the U.S. — and instead cast Moscow as a grave, even existential, threat to U.S. democracy, with its actions tantamount to the worst security breaches in U.S. history.

This post-2016 mania culminated with prominent liberal politicians and journalists (as well as John McCain) declaring Russia’s activities surrounding the 2016 to be an “act of war” which, many of them insisted, was comparable to Pearl Harbor and the 9/11 attack — the two most traumatic attacks in modern U.S. history which both spawned years of savage and destructive war, among other things.

Sen. Jeanne Shaheen (D-NH) repeatedly demanded that Russia’s 2016 “interference” be treated as “an act of war.” Hillary Clinton described Russian hacking as “a cyber 9/11.” And here is Rep. Jerry Nadler (D-NY) on MSNBC in early February, 2018, pronouncing Russia “a hostile foreign power” whose 2016 meddling was the “equivalent” of Pearl Harbor, “very much on par” with the “seriousness” of the 1941 attack in Hawaii that helped prompt four years of U.S. involvement in a world war.

With the Democrats, under Joe Biden, just weeks away from assuming control of the White House and the U.S. military and foreign policy that goes along with it, the discourse from them and their media allies about Russia is becoming even more unhinged and dangerous. Moscow’s alleged responsibility for the recently revealed, multi-pronged hack of U.S. Government agencies and various corporate servers is asserted — despite not a shred of evidence, literally, having yet been presented — as not merely proven fact, but as so obviously true that it is off-limits from doubt or questioning.

Any questioning of this claim will be instantly vilified by the Democrats’ extremely militaristic media spokespeople as virtual treason. “Now the president is not just silent on Russia and the hack. He is deliberately running defense for the Kremlin by contradicting his own Secretary of State on Russian responsibility,” pronounced CNN’s national security reporter Jim Sciutto, who last week depicted Trump’s attempted troop withdrawal from Syria and Germany as “ceding territory” and furnishing “gifts” to Putin. More alarmingly, both the rhetoric to describe the hack and the retaliation being threatened are rapidly spiraling out of control.

Democrats (along with some Republicans long obsessed with The Russian Threat, such as Mitt Romney) are casting the latest alleged hack by Moscow in the most melodramatic terms possible, ensuring that Biden will enter the White House with tensions sky-high with Russia and facing heavy pressure to retaliate aggressively. Biden’s top national security advisers and now Biden himself have, with no evidence shown to the public, repeatedly threatened aggressive retaliation against the country with the world’s second-largest nuclear stockpile.

Congressman Jason Crow (D-CO) — one of the pro-war Democrats on the House Armed Services Committee who earlier this year joined with Rep. Liz Cheney (R-WY) to block Trump’s plan to withdraw troops from Afghanistan — announced: “this could be our modern day, cyber equivalent of Pearl Harbor,” adding: “Our nation is under assault.” The second-ranking Senate Democrat, Dick Durbin (D-IL), pronounced: “This is virtually a declaration of war by Russia.”

Meanwhile, Sen. Mitt Romney (R-UT), who has for years been casting Russia as a grave threat to the U.S. while Democrats mocked him as a relic of the Cold War (before they copied and then surpassed him), described the latest hack as “the equivalent of Russian bombers flying undetected over the entire country.” The GOP’s 2012 presidential nominee also blasted Trump for his failure to be “aggressively speaking out and protesting and taking punitive action,” though — like virtually every prominent figure demanding tough “retaliation” — Romney failed to specify what he had in mind that would be sufficient retaliation for “the equivalent of Russian bombers flying undetected over the entire country.”

For those keeping track at home: that’s two separate “Pearl Harbors” in less than four years from Moscow (or, if you prefer, one Pearl Harbor and one 9/11). If Democrats actually believe that, it stands to reason that they will be eager to embrace a policy of belligerence and aggression toward Russia. Many of them are demanding this outright, mocking Trump for failing to attack Russia — despite no evidence that they were responsible — while their well-trained liberal flock is suggesting that the non-response constitutes some form of “high treason.”

Indeed, the Biden team has been signalling that they intend to quickly fulfill demands for aggressive retaliation. The New York Times reported on Tuesday that Biden “accused President Trump [] of ‘irrational downplaying’” of the hack while “warning Russia that he would not allow the intrusion to ‘go unanswered’ after he takes office.” Biden emphasized that once the intelligence assessment is complete, “we will respond, and probably respond in kind.”

Threats and retaliation between the U.S. and Russia are always dangerous, but particularly so now. One of the key nuclear arms agreements between the two nuclear-armed nations, the New START treaty, will expire in February unless Putin and Biden can successfully negotiate a renewal: sixteen days after Biden is scheduled to take office. “That will force Mr. Biden to strike a deal to prevent one threat — a nuclear arms race — while simultaneously threatening retaliation on another,” observed the Times.


This escalating rhetoric from Washington about Russia, and the resulting climate of heightened tensions, are dangerous in the extreme. They are also based in numerous myths, deceits and falsehoods:

First, absolutely no evidence of any kind has been presented to suggest, let alone prove, that Russia is responsible for these hacks. It goes without saying that it is perfectly plausible that Russia could have done this: it’s the sort of thing that every large power from China and Iran to the U.S. and Russia have the capability to do and wield against virtually every other country including one another.

But if we learned nothing else over the last several decades, we should know that accepting claims that emanate from the U.S. intelligence community about adversaries without a shred of evidence is madness of the highest order. We just had a glaring reminder of the importance of this rule: just weeks before the election, countless mainstream media outlets laundered and endorsed the utterly false claim that the documents from Hunter Biden’s laptop were “Russian disinformation,” only for officials to acknowledge once the harm was done that there was no evidence — zero — of Russian involvement.

Yet that is exactly what the overwhelming bulk of media outlets are doing again: asserting that Russia is behind these hacks despite having no evidence of its truth. The New York Times’ Michael Barbaro, host of the paper’s popular The Daily podcast, asked his colleague, national security reporter David Sanger, what evidence exists to assert that Russia did this. As Barbaro put it, even Sanger is “allowing that early conclusions could all be wrong, but that it’s doubtful.” Indeed, Sanger acknowledged to Barbaro that they have no proof, asserting instead that the basis on which he is relying is that Russia possesses the sophistication to carry out such a hack (as do several other nation-states), along with claiming that the hack has what he calls the “markings” of Russian hackers.

But this tactic was exactly the same one used by former intelligence officials, echoed by these same media outlets, to circulate the false pre-election claim that the documents from Hunter Biden’s laptop were “Russian disinformation”: namely, they pronounced in lockstep, the material from Hunter’s laptop “has all the classic earmarks of a Russian information.” This was also exactly the same tactic used by the U.S. intelligence community in 2001 to falsely blame Iraq for the anthrax attacks, claiming that their chemical analysis revealed a substance that was “a trademark of the Iraqi biological weapons program.”

These media outlets will, if pressed, acknowledge their lack of proof that Russia did this. Despite this admitted lack of proof, media outlets are repeatedly stating Russian responsibility as proven fact.

“Scope of Russian Hacking Becomes Clear: Multiple U.S. Agencies Were Hit,” one New York Times headline proclaimed, and the first line of that article, co-written by Sanger, stated definitively: “The scope of a hacking engineered by one of Russia’s premier intelligence agencies became clearer on Monday.” The Washington Post deluged the public with identically certain headlines:

Nobody in the government has been as definitive in asserting Russian responsibility as corporate media outlets. Even Trump’s hawkish Secretary of State, Mike Pompeo, crafted his accusation against Moscow with caveats and uncertainty: “I think it’s the case that now we can say pretty clearly that it was the Russians that engaged in this activity.”

If actual evidence ultimately emerges demonstrating Russian responsibility, it would not alter how dangerous it is that — less than twenty years after the Iraq WMD debacle and less than a couple of years after media endorsement of endless Russiagate falsehoods — the most influential media outlets continue to mindlessly peddle as Truth whatever the intelligence community feeds them, without the need to see any evidence that what they’re claiming is actually true. Even more alarmingly, large sectors of the public that venerate these outlets continue to believe that what they hear from them must be true, no matter how many times they betray that trust. The ease with which the CIA can disseminate whatever messaging it wants through friendly media outlets is stunning.

Second, the very idea that this hack could be compared to rogue and wildly aberrational events such as Pearl Harbor or the 9/11 attack is utterly laughable on its face. One has to be drowning in endless amounts of jingoistic self-delusion to believe that this hack — or, for that matter, the 2016 “election interference” — is a radical departure from international norms as opposed to a perfect reflection of them.

Just as was true of 2016 fake Facebook pages and Twitter bots, it is not an exaggeration to say that the U.S. Government engages in hacking attacks of this sort, and ones far more invasive, against virtually every country on the planet, including Russia, on a weekly basis. That does not mean that this kind of hacking is either justified or unjustified. It does mean, however, that depicting it as some particularly dastardly and incomparably immoral act that requires massive retaliation requires a degree of irrationality and gullibility that is bewildering to behold.

The NSA reporting enabled by Edward Snowden by itself proved that the NSA spies on virtually anyone it can. Indeed, after reviewing the archive back in 2013, I made the decision that I would not report on U.S. hacks of large adversary countries such as China and Russia because it was so commonplace for all of these countries to hack one another as aggressively and intrusively as they could that it was hardly newsworthy to report on this (the only exception was when there was a substantial reason to view such spying as independently newsworthy, such as Sweden’s partnering with NSA to spy on Russia in direct violation of the denials Swedish officials voiced to their public).

Other news outlets who had access to Snowden documents, particularly The New York Times, were not nearly as circumspect in exposing U.S. spying on large nation-state adversaries. As a result, there is ample proof published by those outlets (sometimes provoking Snowden’s strong objections) that the U.S. does exactly what Russia is alleged to have done here — and far worse.

“Even as the United States made a public case about the dangers of buying from [China’s] Huawei, classified documents show that the National Security Agency was creating its own back doors — directly into Huawei’s networks,” reported The New York Times David Sanger and Nicole Perlroth in 2013, adding that “the agency pried its way into the servers in Huawei’s sealed headquarters in Shenzhen, China’s industrial heart.”

In 2013, the Guardian revealed “an NSA attempt to eavesdrop on the Russian leader, Dmitry Medvedev, as his phone calls passed through satellite links to Moscow,” and added: “foreign politicians and officials who took part in two G20 summit meetings in London in 2009 had their computers monitored and their phone calls intercepted on the instructions of their British government hosts.” Meanwhile, “Sweden has been a key partner for the United States in spying on Russia and its leadership, Swedish television said on Thursday,” noted Reuters, citing what one NSA document described as “a unique collection on high-priority Russian targets, such as leadership, internal politics.”

Other reports revealed that the U.S. had hacked into the Brazilian telecommunications system to collect data on the whole population, and was spying on Brazil’s key leaders (including then-President Dilma Rousseff) as well as its most important companies such as its oil giant Petrobras and its Ministry of Mines and Energy. The Washington Post reported: “The National Security Agency is gathering nearly 5 billion records a day on the whereabouts of cellphones around the world, according to top-secret documents and interviews with U.S. intelligence officials, enabling the agency to track the movements of individuals — and map their relationships — in ways that would have been previously unimaginable.” And on and on.

Read the rest of the report here.

end

Goldman Sachs estimates that the USA is up to 26% herd immunity

(zerohedge)

Goldman Estimates 26% Of Americans Already Immune To COVID

THURSDAY, DEC 24, 2020 – 10:34

“Herd Immunity” – it’s that hard-to-nail-down phrase that has bedeviled the world’s public health experts since SARS-CoV-2 burst forth from Hubei Province a year ago (new research on the ever-changing SARS-CoV-2 genome now suggests the first infections in the West emerged weeks before Chinese officials alerted the WHO on New Year’s Eve).

On the one hand, scientists, doctors and others who advocate for stringent lockdowns see “going herd” as a byword for siding with Dr. Scott Atlas and other “anti-science” crusaders like Anders Tegnell, the architect of Sweden’s no-lockdown strategy, which seemed to be working until it didn’t.

On the other, people like Dr. Anthony Fauci are now using it to describe that nebulous area where, according to epidemiologists, either enough humans have been vaccinated and/or infected with the virus that it can no longer spread as effectively, and numbers of new cases, hospitalizations and deaths start to drop. At that point, the world will reach the status that China has – or at least purports to have – right now, which is that the virus becomes more of a minor nuisance like the cold or the flu, instead of a big, scary killer.

According to science, we don’t know exactly where the “herd” threshold is, though it’s commonly believed (though not proven to the point where it’s a universally accepted scientific “fact”) to be somewhere around 70% of the population. And now, with more than 1MM people having been vaccinated in the US (in addition to the roughly 18.5MM people who have already tested positive) a team of analysts at Goldman Sachs who have published some widely read research on vaccinations and projections related to world immunity are saying that 26% of the US population already has the antibodies believed to be required to achieve lasting COVID immunity (though for exactly how long we don’t yet know).

If accurate, that would mean we’re roughly 1/3rd of the way to ‘herd immunity’ already.

What’s more, after extrapolating from data on excess deaths across DM and EM nations, the Goldman team has crunched some numbers and determined that Mexico’s rate is even higher, at 36MM, even though the number of confirmed cases is much smaller than in the US (the Mexican government has also been accused of trying to suppress case, death and hospitalization numbers after President AMLO was criticized for taking a lax approach).

Unsurprisingly, some of the worst-hit Latin American countries have immunity rates that are higher – but not that much higher – tha European nations like Belgium and Italy (which both embraced lockdowns).

Of course this research is based on a range of assumptions that may not perfectly reflect the reality. But even so, what exactly does this research suggest about how various countries have handled the pandemic?

ELECTION CHAOS

STORY NO 1

Did you expect anything different from this lameduck Supreme Court.  Filings must be in by Jan 22//one day after the inauguration.  However they may still act according to John Eastman

(Epoch Times/Kan)

Supreme Court Fails to Immediately Act on Trump Campaign’s Request to Expedite Pennsylvania Appeal

December 23, 2020 Updated: December 23, 2020

The Supreme Court on Wednesday docketed an appeal filed by President Donald Trump’s campaign that seeks to reverse cases by a state court but did not immediately act on the campaign’s request to expedite the case.

Instead, the top court’s docket shows a Jan. 22, 2021. deadline—two days after the presidential inauguration day—for when the state is required to respond to the request for appeal.

The campaign filed the suit on Monday challenging three Pennsylvania Supreme Court rulings that “illegally changed” the mail-in ballot laws “immediately before and after the 2020 presidential election,” the legal team said.

The team argued that those court decisions were issued in violation of Article II of the Constitution and the U.S. Supreme Court ruling, Bush v. Gore, that settled a recount dispute from Florida in 2000.

Along with the petition for a writ of certiorari, the legal team filed a request to the court to expedite the case. That request asked the nation’s top court to order Pennsylvania officials to respond by noon on Wednesday—a deadline that has now passed.

“If this matter is not timely resolved, not only Petitioner, but the Nation as a whole may suffer injury from the resulting confusion,” the campaign wrote (pdf).

“Indeed, the intense national and worldwide attention on the 2020 Presidential election only foreshadows the disruption that may well follow if the uncertainty and unfairness shrouding this election are allowed to persist. The importance of a prompt resolution of the federal constitutional questions presented by this case cannot be overstated,” they added.

John Eastman, the president’s attorney in this case, told The Epoch Times in an email that the Jan. 22 date is an automatic entry by the clerk’s office, as every petition for certiorari is given a 30-day response deadline after the request is docketed.

“So don’t read anything into that,” Eastman said. “The Court is fully aware of our Motion for Expedited Consideration, and if it grants our motion, new dates will be provided via court order.”

The campaign’s lawsuit seeks “all appropriate remedies,” which includes the vacating of electors that were committed to Joe Biden and allowing the Pennsylvania Legislature to call up their own electors. Pennsylvania was one of the seven states where the Republican Party had its own electors cast votes for Trump and Vice President Mike Pence, in a bid to preserve legal challenges in the state.

The legal team argued that the state rulings “eviscerated” the Pennsylvania Legislature’s safeguards against potential voter fraud stemming from mail-in ballots. The rulings prohibited the verification of signatures of absentee and mail-in ballots declarations, prevented campaigns from gaining meaningful access to observe the counting of absentee and mail-in ballots; and relaxed the statutory requirements that voters properly sign, address, and date mail-in ballots, the lawsuit alleged.

The lawsuit represents the campaign’s first independent U.S. Supreme Court filing seeking to challenge the 2020 election results, former Mayor Rudy Giuliani said in a statement earlier this week.

District of Columbia Attorney General Karl Racine (L) and Texas Attorney General Ken Paxton
Texas Attorney General Ken Paxton speaks during the launch of an antitrust investigation into large tech companies outside of the U.S. Supreme Court in Washington on Sept. 9, 2019. (Mandel Ngan/AFP via Getty Images)

Several 2020 election-related appeals and challenges have been filed in the top court but so far, none of the cases have been accepted. The Supreme Court refused to hear a lawsuit filed by Texas Attorney General Ken Paxton against Pennsylvania, Georgia, Michigan, and Wisconsin, ruling that the Lone Star State failed to show it had the legal standing—or right—to sue.

Meanwhile, the court also rejected to immediately intervene in another lawsuit filed by Pennsylvania Republicans alleging that its mail-in ballot law contravened the state’s constitution. The court denied the Republican’s request for immediate injunctive relief to block Pennsylvania from taking further steps to certify the 2020 election results.

Lawyers for state lawmaker Rep. Mike Kelly (R-Pa.) subsequently filed a petition for a writ of certiorari earlier this month, which argues that the Pennsylvania Supreme Court was wrong when it dismissed their case because the justices thought the plaintiffs filed their case with unreasonable delay.

Jack Phillips contributed to this report.

end

STORY NO 2

A good start;  Arizona lawmakers are now planning to certify President Trump as the winner

It has 11 electoral college voters.

Morgan/News

BOMBSHELL: Arizona Lawmakers Plan To Certify President Trump As Winner (VIDEO)

 

President Trump’s attorney, Rudy Giuliani, dropped a bombshell during an appearance on Steve Bannon’s “War Room: Pandemic” podcast.

Giuliani reported that the Arizona legislature is attempting to pass a resolution this week certifying that President Trump won the state.

Arizona would be the first state to acknowledge election fraud and change the results. Giuliani reported that Arizona lawmakers didn’t have enough votes earlier this week to make it happen but GOP leaders inside the state are hoping to have a vote before Christmas.

The plan is to certify that President Trump won the State of Arizona during a joint session.

It appears that this is going to be the plan moving forward in Georgia and Pennsylvania.

The driveway media was not taking Giulini’s announcement seriously until CNN’s Jake Tapper reported Pennsylvania’s entire GOP Senate caucus was invited to lunch at the White House.

I wouldn’t put much hope in the Pennsylvania delegation though, they don’t have enough of the spine to stand up to their governor’s coronavirus restrictions they don’t have the guts to change their election results.

Former Speaker of the House New Gingrich also recently penned a piece declaring he “will not accept Joe Biden as president.”

“As I thought about it, I realized my anger and fear were not narrowly focused on votes,” Gingrich wrote in an op-ed published Monday in The Washington Times. “My unwillingness to relax and accept that the election was over grew out of a level of outrage and alienation unlike anything I had experienced in more than 60 years involvement in public affairs.”

“You have more than 74 million voters who supported President Trump despite everything — and given the election mess, the number could easily be significantly higher. The truth is tens of millions of Americans are deeply alienated and angry,” Gingrich wrote. “If Mr. Biden governs from the left — and he will almost certainly be forced to — that number will grow rapidly, and we will win a massive election in 2022.”

end

STORY NO 3

Why Zuckerberg is going down!! He was the DNC’s bagman and he will be discarded

(Amistad Project/BlabberBuzz)

and special thanks to Robert H for sending this to us:

Zuckerberg Is Going Down Like The Titanic: Proof That Facebook Frontman Was DNC’s Bagman

Written By BlabberBuzz | Thursday, 24 December 2020 00:00

Zuckerberg Is Going Down Like The Titanic: Proof That Facebook Frontman Was DNC's Bagman

Hundreds of millions of dollars from Facebook founder Mark Zuckerberg were used to break election laws, according to a new report.

The Amistad Projectof the Thomas More Society, a national constitutional litigation organization, issued the 39-page report, declaring that Zuckerberg’s $500 million provided to election officials was practiced to treat voters unfairly and to improperly impact the election for Democratic presidential candidate Joe Biden.

The majority of the funds went to the Center for Tech and Civic Life (CTCL), a nonprofit started by former managers and staff at the New Organizing Institute, a progressive nonprofit.

According to the report, the nonprofit earlier this year “began sending agents into states to recruit certain Democrat strongholds to prepare grants requesting monies from” it.

For instance, the center provided $100,000 to Cory Mason, the mayor of Racine, Wisconsin, to recruit four other cities to form a plan and request a larger grant from it. Those five cities presented such a plan in June and got $6.3 million to implement it.

That kind of privatization of elections “undermines the Help America Vote Act (HAVA), which requires state election plans to be submitted to federal officials and approved and requires respect for equal protection by making all resources available equally to all voters,” the report states.

“The provision of Zuckerberg-CTCL funds allowed these Democrat strongholds to spend roughly $47 per voter, compared to $4 to $7 per voter in traditionally Republican areas of the state. Moreover, this recruiting of targeted jurisdictions for specific government action and funding runs contrary to legislative election plans and invites the government to play favorites in the election process.”

Mason’s spokesperson didn’t respond to a request for comment, nor did a Facebook spokesperson, nor CTCL’s media office.

“This effectively is a shadow government running our elections,” Phill Kline, manager of the Amistad Project, said at a press conference in Virginia.

“Zuckerberg money paid for the machines, paid for the election judges that determine what ballots will be counted and told them how many polling places to have,” Kline told Bolling, who urged the former Kansas attorney general to reveal explicitly how the billionaire’s money dictated the rules of this year’s election.

“Government has the core responsibility of managing elections. We don’t put out elections for bids. We don’t have elections brought to you by Coca Cola. It is the government’s job to manage elections, and it must do so without a thumb on the scale.”

The project said the main foundations backing the efforts combine The Democracy Fund, New Venture Fund, Skoll Foundation, and Knight Foundation.

Other nonprofits deemed key to giving the money besides CTCL were named as the Center for Electronic Innovation Research, the Center for Civic Design, the National Vote at Home Institute, the Center for Secure and Modern Elections, and Rock the Vote.

None of them immediately returned to requests for comment.

end

story no 4

Will Mike Pence do the right thing: not accept the 6 rogue states electoral college voters. Trump tweets that this is to be called “Operation Pence Card”

(Gateway Pundit/Hoft)

“Mike Pence Must Do This” – President Trump Retweets “Operation Pence Card” Urging His VP to Act on Fraudulent Election

Many experts believe that Vice President Mike Pence has the duty to throw out electoral college recommendations in the 2020 election that are based on fraud. 

This will then force these states to have their legislatures choose the set of delegates they believe will best represent the state’s election results.

Ivan Raiklin has studied the Constitution and found some absolutely fascinating information.  He is reporting that a peaceful and Constitutionally lawful resolution to the situation we are in is at hand and may begin today.

page 1

TRENDING: JUST IN: President Trump Announces 26 New Christmas Pardons Including Paul Manafort and Roger Stone

page 2

page 3

Later today President Trump retweeted this on Wednesday. This puts pressure on his Vice President to act in obedience to this US Constitution.

If Mike Pence fails to act — he will lose the Trump voters. We don’t need another weakling Republican.

If Mike Pence chooses to do what is right it will position him for 2024.

It’s Mike’s choice.

END

STORY NO 5

WALL STREET JOURNAL

Very important:  we now have a very important media, the Wall Street Journal state that Hunter Biden allegedly traded on his family name and influence to make millions for himself and the Biden family.

(Wall Street Journal/zerohedge)

Here Is How Hunter Biden Allegedly Traded On Family Name, Influence To Make Millions

THURSDAY, DEC 24, 2020 – 8:40

Just days after outgoing AG William Barr said there is “no need” to appoint a special counsel to investigate HunterBiden despite revelations about a federal criminal investigation into Biden’s business conduct, we’re seeing the latest “scoop” about the younger Biden’s alleged misdeeds.

In a lengthy investigative report, the WSJ has reportedly confirmed that the younger Biden traded on his purported influence and family ties during his business dealings in Ukraine and China (along with his conduct at home in his personal life, where he has seemingly careened from one disaster to the next) to enrich himself – and, importantly, his family as well.

Importantly, in the story, WSJ explicitly notes that “none of the Journal’s reporting found that Joe Biden was involved in his son’s activities, which mostly took place around the time Obama’s second term was wrapping up.” Our initial reaction: Of course it wouldn’t.

But that doesn’t matter so much right now: What this shows is that the federal agents leading the “criminal tax probe” into the younger Biden are looking into how influence peddling and the Biden family name played into this, which could be very, very bad for Hunter’s father, and the Democrats.

But the fact that WSJ is reporting and seemingly confirming that the younger Biden benefited ‘because of his last name and connections’ still has significance.

Even though it shares an owner with Fox News, WSJ, with its closet full of Pulitzers, is still “respected” by the mainstream press.

Through reportedly talking with people familiar with Biden’s business dealings, WSJ managed to confirm various that the younger Biden received  a discounted stake in a Chinese PE firm that was at the center of the NY Post’s reporting, along with consulting arrangements with a Romanian property magnate which “overall allowed him to maintain a globe-trotting lifestyle, according to interviews, documents and communications reviewed by The Wall Street Journal.”

It even confirmed that Biden receiving a 2.8-carat diamond from a Chinese energy tycoon that has reportedly found its way to the center of the federal investigation into the president’s sons actions.

Most of the details were clearly leaked to WSJ by Senate Republicans. But the takeaway here is pretty clear: even if the information is being used for political purposes, the investigation into Biden holds water. After all, federal investigations aren’t opened up for nothing.

By now, as Trump continues with his wave of pardons (he has of course pardoned far fewer people than his predecessor, even adjusted for his shorter time in the saddle), the GOP is ensuring that the investigation into Hunter Biden will be as fraught with leaks and bombshells and “scoops” as any other high profile investigation, including – most obviously – the Mueller probe.

Social media could block out the NY Post, but they couldn’t block out WSJ. Though the story wasn’t widely covered, now that WSJ has “moved” on it, how much longer can its rivals – even WaPo and NYT – keep this from becoming an “essential” story after inauguration day. Otherwise, they will lose what little credibility they have left, as critics challenge the press to step up and hold Biden “accountable” like they did Trump.

There also might be an element of payback at play here, as WSJ owner Rupert Murdoch seeks to get back in Trump’s good graces after the president sicced his legions of loyal followers on Fox News, threatening its fat profit margins.

Either way, one thing is clear: Leaks like this aren’t going to stop.

END

iv) Swamp commentaries

Ossoff, running for USA Senate refuses to disclose murky deals with Qatar and China!!!

(zerohedge)

Ossoff Refuses To Disclose Murky Deals With Qatar, China As Georgia Runoff Election Nears

THURSDAY, DEC 24, 2020 – 14:25

Georgi Democratic Senate candidate Jon Ossoff has come under fire for refusing to disclose details about his personal finances and investments, including media deals he made with state-owned news outlets in Qatar and China.

The 33-year-old trust fund Democrat is facing GOP Sen. David Perdue in one of two crucial Peach State races which will decide whether Democrats control the upper chamber of Congress, as the New York Post reports.

On the campaign trail, Ossoff touts himself as a crusader against corruption who has produced hard-hitting documentaries on fraud in countries like Ghana through his production company, Insight: The World Investigates.

But the Atlanta-born former congressional aide has refused to be transparent about his own personal finances.

Ossoff has been silent on the $250,000 loan he made to the company when he became CEO at age 26 in 2013, or the undisclosed donation he made when he became majority owner, the Washington Post reported Wednesday.

Questions have also arisen over how much money the Democratic darling has accepted from China and Qatar after he brokered deals with a Hong Kong news agency and Qatar-backed Al Jazeera to air two of his films on the Islamic State. –New York Post

Ossoff says it’s no big deal because his films were sold to Al Jazeera English, not the Arabic version – both of which are still owned and controlled by Qatar. He also says that he ‘only’ received $1,000 in broadcast rights from a Hong Kong company which Perdue says is “a Communist Chinese news agency.”

The Senate hopeful, who also refuses to release his tax returns (which we guess is ok now), also won’t say how much he inherited from his grandfather – a figure the Washington Post estimates is in the millions. According to his personal disclosure fund, he’s worth somewhere between $2.3 million and $8 million – while he told the Post that the details of his company, which he stepped away from in 2017 for an unsuccessful Congressional run, are “confidential.”

Wealth has become a central issue in the two Georgia Senate runoff races as Democratic challengers look to topple Perdue, 71, and Sen. Kelly Loeffler, a Republican lawmaker involved in this year’s stock trading controversy.

An investigation ultimately cleared Loeffler of any wrongdoing after she dumped millions of dollars worth of stock following a private briefing for senators on COVID-19 at the start of the pandemic.

Perdue is also one of Congress’ most prolific traders and with a net worth of $15.8 million, is one of the wealthiest members of the Senate. –New York Post

Republicans have taken to describing Ossoff as a “trust fund socialist” with “zero real-life accomplishment

end

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

Outline of Brexit Trade Deal Has Been Reached, Officials Say

https://www.bloomberg.com/news/articles/2020-12-23/outline-of-brexit-trade-deal-has-been-reached-officials-say

 

@AFP: Britain has made “huge concessions” in Brexit talks, according to a French source 15:52 ET

@realDonaldTrump: I will Veto the Defense Bill, which will make China very unhappy. They love it. Must have Section 230 termination [liability protection for online platforms], protect our National Monuments and allow for removal of military from far away, and very unappreciative, lands. Thank you!

Trump vetoes colossal $740 billion defense bill, breaking with Republican-led Senate

“Unfortunately, the Act fails to include critical national security measures, includes provisions that fail to respect our veterans and our military’s history, and contradicts efforts by my administration to put America first in our national security and foreign policy actions,” Trump wrote in a lengthy statement to Congress.  “It is a ‘gift’ to China and Russia,” the president added…

https://www.cnbc.com/2020/12/23/trump-vetoes-740-billion-ndaa-defense-bill.html

 

GOP Sen. Lindsey Graham said he would NOT vote to override Trump’s veto unless Section 230 was amended as Trump requested. Facebook, Twitter and Google tumbled on the news.  This dynamic was a factor in the late ESH and stock plunge yesterday.

 

GOP Sen. @tedcruz: One year ago, I voted against the wasteful corrupt omnibus bill. This week, I did so again.  Last year, it was 2k pages; this year? 6k. Last year, $1.4 trillion. This year? $2.5 trillion. Virtually every failing of last year’s bill is WORSE this year.

COVID Hypocrisy: Policymakers Breaking Their Own Rules – List of Incidents

https://www.heritage.org/data-visualizations/public-health/covid-hypocrisy-policymakers-breaking-their-own-rules/

@realDonaldTrump just before last night: Our embassy in Baghdad got hit Sunday by several rockets. Three rockets failed to launch. Guess where they were from: IRAN. Now we hear chatter of additional attacks against Americans in Iraq.  Some friendly health advice to Iran: If one American is killed, I will hold Iran responsible. Think it over.     https://twitter.com/realDonaldTrump/status/1341862953637822468

China to Probe Alibaba Group on Suspected Monopoly – BBG (Alibaba tumbled 3.4%)

@newsmax: Durham probe ‘is a very serious and active case.’ “The people will be satisfied by the juridical prudence, and the punishments, and the indictments – that are about to come,” says John Solomon. https://twitter.com/newsmax/status/1341571730616299520

 

NY leads nation in population drop, could lose House seat   https://trib.al/hr4qh1Q

126,355 people hightailed it out of the Empire State between July 2019 and July 2020, a dip of 0.65%…

Well that is all for today

I would like to wish everyone a very Merry Christmas and a safe holiday weekend

I will see you MONDAY night.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: