DEC 29//TWO MORE DAYS OF PRICE SUPPRESSION//GOLD UP $1.65 TO $1876.95//SILVER OFF BY 22 CENTS TO $26.14//COMEX GOLD STANDING FOR DECEMBER RISES TO 93.59 TONNES//SILVER RETREATS AS NOW SILVER IS AVAILABLE AT THE COMEX//CORONAVIRUS UPDATE: USA//CHINA//UK AND THE GLOBE//REPORT THAT APPLE USES FORCED LABOUR IN CHINA//EU FORGES A DEAL WITH CHINA DESPITE WHAT THE VIRUS DID TO THEM: THEY ARE JUST AS CORRUPT AS THE BIDENS//ELECTION CHAOS: UKRAINE RELEASES VIDEO AND DATA ILLUSTRATING THE CORRUPTION OF THE BIDENS AND THE DEMOCRATIC PARTY//ONE STATE SECRETARY RELEASES VOTER LIST TO PAKISTAN AND THEIR INTELLIGENCE// PENNSYLVANIA DISCOVERS ANOTHER HUGE ERROR OF AROUND 200,000 VOTES EVEN AFTER CERTIFICATION//MORE SWAMP STORIES FOR YOU TONIGHT

GOLD:$1876.95 UP   $1.65   The quote is London spot price

Silver:$26.14 DOWN $0.22   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $1877.70  LONDON SPOT  4:30 pm

ii)SILVER:  $26.20//LONDON SPOT  4:30 pm

 

..THIS THURSDAY IS OPTIONS EXPIRY FOR LBMA GOLD/SILVER AND OTC CONTRACTS.

 

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EXECUTIVE ORDER 13848

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

 
 

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COMEX DATA

 
 
 

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

receiving today:  0/20

EXCHANGE: COMEX
CONTRACT: DECEMBER 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,877.200000000 USD
INTENT DATE: 12/28/2020 DELIVERY DATE: 12/30/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
118 H MACQUARIE FUT 7
737 C ADVANTAGE 19
905 C ADM 1 13
____________________________________________________________________________________________

TOTAL: 20 20
MONTH TO DATE: 29,993

 

ISSUED 0

 

GOLDMAN SACHS STOPPED 0 CONTRACTS.

 
 

TOTAL NUMBER OF NOTICES FILED TODAY:   20 NOTICES FOR 2000 OZ  (0.06723 TONNES)

 

TOTAL NUMBER OF NOTICES FILED SO FAR:  29,993 NOTICES FOR 2,999,300 OZ  (93.2908 tonnes) 

SILVER//DEC CONTRACT

 

53 NOTICE(S) FILED TODAY FOR 265,000  OZ/

total number of notices filed so far this month: 9326 for 46,630,000  oz

BITCOIN MORNING QUOTE  $26,649   DOWN 183

BITCOIN AFTERNOON QUOTE.  :$26,639  UP 66 DOLLARS .

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

GLD AND SLV INVENTORIES:

WITH GOLD UP $1.65 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

A HUGE CHANGE IN GLD INVENTORY AT THE GLD// A DEPOSIT OF 2.53 TONNES INTO THE GLD

INVENTORY RESTS AT:

 

GLD: 1,169.83 TONNES OF GOLD//

 

WITH SILVER DOWN 22 CENTS TODAY: AND WITH NO SILVER AROUND:

A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF 2.138 MILLION OZ INTO THE SLV//

INVENTORY RESTS AT :

SLV: 557.089  MILLION OZ./

 

XXXXXXXXXXXXXXXXXXXXXXXXX

 

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

IN SILVER THE COMEX OI ROSE BY A VERY STRONG SIZED 2829 CONTRACTS FROM 168,654 UP TO 171,483, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE STRONG GAIN IN COMEX OI  OCCURRED WITH OUR HUGE RISE  OF $0.57 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 ANOTHER CONSIDERABLE DECREASE IN SILVER OUNCES  STANDING AT THE COMEX FOR DEC. WE HAD A STRONG SIZED GAIN IN OUR TWO EXCHANGES OF 3433 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:  604, AS WE HAD THE FOLLOWING ISSUANCE:   DEC:  0, MARCH 604 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  604 CONTRACTS. THE BANKERS ARE NOW BEING BITTEN BY THOSE SERIAL FORWARDS (EFP’S CIRCULATING IN LONDON)AS THEY ARE NOW BEING EXERCISED AND COMING BACK TO NEW YORK FOR REDEMPTION OF METAL.  THE COST TO SERVICE THESE SERIAL FORWARDS IS HIGH TO OUR BANKERS  BUT THEY HAVE NO CHOICE BUT TO ISSUE AS MANY AS THEY CAN!

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 26 MONTHS.

 

JUNE/2018. (5.420 MILLION OZ);

FOR JULY: 30.370 MILLION OZ

FOR AUG., 6.065 MILLION OZ

FOR SEPT. 39.505 MILLION  OZ S

FOR OCT.2.525 MILLION OZ.

FOR NOV:  A HUGE 7.440 MILLION OZ STANDING  AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

2.955 MILLION OZ STANDING FOR FEBRUARY.:

27.120 MILLION OZ STANDING IN MARCH.

3.875 MILLION OZ STANDING FOR SILVER IN APRIL.

18.845 MILLION OZ STANDING FOR SILVER IN MAY.

2.660 MILLION OZ STANDING FOR SILVER IN JUNE//

22.605 MILLION OZ  STANDING FOR JULY

10.025   MILLION OZ INITIAL STANDING IN AUGUST.

43.030   MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)

7.32     MILLION OZ INITIALLY STANDING IN OCT

2.630     MILLION OZ STANDING FOR NOV.

20.970   MILLION OZ  FINAL STANDING IN DEC

5.075     MILLION OZ FINAL STANDING IN JAN

1.480    MILLION OZ FINAL STANDING IN FEB

23.005  MILLION OZ FINAL STANDING FOR MAR

4.660  MILLION OZ FINAL STANDING FOR APRIL

45.220 MILLION OZ FINAL STANDING FOR MAY

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470 MILLION OZ FINAL STANDING IN JULY.

6.475 MILLION OZ FINAL STANDING IN AUGUST

55.400 MILLION OZ FINAL STANDING IN SEPT

11.400 MILLION OZ FINAL STANDING IN OCT.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.630 MILLION OZ INITIAL STANDING FOR DEC.

THURSDAY, 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 $0.57) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE   UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY  SILVER LONGS AS WE HAD A STRONG GAIN IN OUR TWO EXCHANGES (3433 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) STRONG COMEX OI GAIN AND iv) ZERO  LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

We have now switched to SILVER for our spreaders!!

 

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

 

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

SPREADING OPERATION FOR OUR NEWCOMERS:

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

FOR THOSE OF YOU WHO ARE NEW, HERE IS THE MODUS OPERANDI OF THE SPREADERS AND THE CRIMINAL ELEMENT BEHIND IT:

 HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

 

THE SPREADING LIQUIDATION OPERATION IS NOW OVER FOR GOLD..AND WE WILL NOW MORPH INTO AN ACCUMULATION PHASE OF SPREADING CONTRACTS FOR SILVER.  THEY WILL ACCUMULATE CONSIDERABLE AMOUNT OF THE CONTRACTS AND THEN LIQUIDATE ONE WEEK PRIOR TO FIRST DAY NOTICE

MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:

.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO SILVERAS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX GOLD OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE  ACTIVE DELIVERY MONTH OF DEC. HEADING TOWARDS THE NON ACTIVE DELIVERY MONTH OF JAN FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS  ACTIVE MONTH OF  DEC. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING NON  ACTIVE DELIVERY MONTH (JAN), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

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

16,935 CONTRACTS (FOR 20 TRADING DAY(S) TOTAL 16,935 CONTRACTS) OR 84.675 MILLION OZ: (AVERAGE PER DAY 846 CONTRACTS OR 4.23 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF DEC: 84.675 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 12.09% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2020 TO DATE SILVER EFP’S:          1,658.98 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:                    84.675 MILLION OZ (ESCALATING IN NUMBERS AGAIN  )

RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2829, WITH OUR  $0.57 GAIN IN SILVER PRICING AT THE COMEX //MONDAY.THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 604 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE GAINED A STRONG  SIZED 3433 OI CONTRACTS ON THE TWO EXCHANGES  (WITH OUR   $0.57 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  604 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED INCREASE OF 2829 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.57 RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.36 // MONDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.8435 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: 53 NOTICE(S) FOR 265,000 OZ OF SILVER.

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

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

 

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 10,141 CONTRACTS TO 553,119 AND FURTHER FROM OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE LOSS IN COMEX OI OCCURRED WITH OUR FALL IN PRICE  OF $3.00 /// COMEX GOLD TRADING//MONDAY.WE  HAD SOME BANKER/ALGO SHORT COVERING ACCOMPANYING OUR TINY SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD CONSIDERABLE LONG LIQUIDATION AS WE HAD A STRONG LOSS ON OUR TWO EXCHANGES  (9716 CONTRACTS). WE  HAVE A SMALL SIZED INCREASE IN AMOUNT OF GOLD STANDING FOR DELIVERY IN DECEMBER(GOLD STANDING UP TO 93.589 TONNES) .THIS ALL HAPPENED WITH OUR FALL IN PRICE OF $3.00. 

.

WE HAD A VOLUME OF 2    4 -GC CONTRACTS//OPEN INTEREST  2//

WE HAD A STRONG SIZED LOSS OF 9716 CONTRACTS   ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A TINY SIZED 425 CONTRACTS:

CONTRACT .  DEC: 0; FEB: 1425  AND DEC ’21: 0 ALL OTHER MONTHS ZERO//TOTAL: 425.  The NEW COMEX OI for the gold complex rests at 553,119. 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 STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9716 CONTRACTS: 10,141 CONTRACTS DECREASED AT THE COMEX AND 425 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS//TWO EXCHANGES OF 9716 CONTRACTS OR 30.22 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A TINY SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (425) ACCOMPANYING THE STRONG SIZED LOSS IN COMEX OI  (10,141 OI): TOTAL LOSS IN THE TWO EXCHANGES: 9716 CONTRACTS. WE NO DOUBT HAD  1)  SOME BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2 SMALL GAIN IN GOLD OUNCES  STANDING AT THE GOLD COMEX FOR THE FRONT DEC. MONTH TO 93.589 TONNES3)  CONSIDERABLE LONG LIQUIDATION ;4) STRONG COMEX OI LOSS,  5) TINY SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL….ALL OF THIS OCCURRED WITH  OUR LOSS IN GOLD PRICE TRADING/MONDAY//$3.00.

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 : 42,573 CONTRACTS OR 4,257,300 oz OR 132.41 TONNES (20 TRADING DAY(S) AND THUS AVERAGING: 2218 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 20 TRADING DAY(S) IN  TONNES: 132.41  TONNES

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

THUS EFP TRANSFERS REPRESENTS 132.41/3550 x 100% TONNES =3.72% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2020 TO DATE:  3,954.77 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:                         132.41 TONNES (DECREASING AGAIN)

 

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

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

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A STRONG SIZED 1819 CONTRACTS FROM 168,654 DOWN TO 171,483 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

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

EFP ISSUANCE 604 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:  604  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 604 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 2829 CONTRACTS TO THE 604 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A  GAIN OF 3433 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 17.165 MILLION  OZ, OCCURRED WITH OUR $0.57 RISE IN PRICE///

 

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

 

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

3. ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 18.25 PTS OR .56%   //Hang Sang CLOSED UP 253.86 PTS OR .96%    /The Nikkei closed UP 714.12 POINTS OR 2.65%//Australia’s all ordinaires CLOSED UP 0.56%

/Chinese yuan (ONSHORE) closed UP AT 6.5315 /Oil UP TO 48.11 dollars per barrel for WTI and 51.44 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP AT 6.5315 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5218 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 
 
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY BY A STRONG SIZED 10,141 CONTRACTS TO 553,797 AND FURTHER FROM OUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX DECREASE OCCURRED WITH OUR LOSS OF $3.00 IN GOLD PRICING MONDAY’S COMEX TRADING/).

 WE HAD A TINY EFP ISSUANCE (425 CONTRACTS).  WE THUS HAD  1)  SOME BANKER SHORT COVERING// ALGO SHORT COVERING//,  2)  SOME 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 93.589 TONNES)//DEC. DELIVERY MONTH (SEE BELOW) 4)   AS WE ENGINEERED A STRONG SIZED LOSS ON OUR TWO EXCHANGES OF 9716 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 2    4 -GC VOLUME//open interest LOWERS TO  2

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A TINY SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 425 EFP CONTRACTS WERE ISSUED:     DEC 0; FEB// ’21 425 AND DEC 21: 0 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 425  CONTRACTS.

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

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

 

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 9716 TOTAL CONTRACTS IN THAT 425 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A STRONG SIZED 10,141 COMEX CONTRACTS.. THE BIG NEWS IS THE GIGANTIC LEVEL OF DEC 2020 GOLD CONTRACTS STANDING FOR DELIVERY. ((93.589 TONNE).  IF YOU INCLUDE  NOVEMBER’S HUGE 34.7 TONNES, OUR COMEX IS OFFICIALLY UNDER ASSAULT.

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $3.00). AND, THEY WERE  SUCCESSFUL IN FLEECING SOME LONGS AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED  30.22 TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR DECEMBER (93.589 TONNES)

NET LOSS ON THE TWO EXCHANGES :: 9716 CONTRACTS OR 971,600 OZ OR 30.22  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:  553,119 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 55.31 MILLION OZ/32,150 OZ PER TONNE =  1720 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1720/2200 OR 78,19% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX TODAY  148,739 contracts// volume extremely poor and falling in numbers

CONFIRMED COMEX VOL. FOR YESTERDAY:  205,539 contracts//  volume: poor//

/most of our traders have left for London

 

DEC 29 /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
 
1,656.40 oz
 
hsbc
 
 
 
Deposits to the Dealer Inventory in oz NIL oz

 

 

Deposits to the Customer Inventory, in oz 0
OZ
No of oz served (contracts) today
 
20 notice(s)
 
 2000 OZ
(0.0622 TONNES)
 
 
 
 
No of oz to be served (notices)
96 contracts
(9600 oz)
0.2986 TONNES
 
Total monthly oz gold served (contracts) so far this month
29993 notices
2,999,300 OZ
 
93.2908 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  0 deposit into the customer account

 
 

total customer deposit: NIL    oz

 

we had  1 gold withdrawals from the customer account:

i) Out of HSBC:  1656.40 oz
 
 
total customer withdrawals:  1656.40  oz

We had 1  kilobar transactions

ADJUSTMENTS: 0//

i )of the Brinks:  6558.804 oz ( 204 kilobars)  

 
 

The front month of DEC registered a total of 116 contracts for a LOSS of 27. We had 28 notices filed upon yesterday so we  GAINED A SMALL SIZED 1 contact or 100 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 LOST 614 contracts to stand at 1368 contracts. FEBRUARY LOST  11,574 contracts DOWN TO 403,759.

IT LOOKS LIKE JANUARY WILL HAVE A POOR DELIVERY MONTH..THERE IS NO GOLD OVER HERE SO WHY BOTHER?

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

We had  28 notice(s) filed today for  2800 oz OR 0.0870 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 20  contract(s) of which  0  notices were stopped (received) by j.P. Morgan dealer and  0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notices received (stopped) by the squid  (Goldman Sachs)
 

To calculate the INITIAL total number of gold ounces standing for the DEC /2020. contract month, we take the total number of notices filed so far for the month (29,993) x 100 oz , to which we add the difference between the open interest for the front month of  (DEC 116 CONTRACTS ) minus the number of notices served upon today (20 x 100 oz per contract) equals 3,008,900 OZ OR 93.589 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 (29,993 x 100 oz 116 OI) for the front month minus the number of notices served upon today (20) x 100 oz which equals 3,008,800 oz standing OR 93.589 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 20 contracts or an additional 2000 oz (.0622 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 528.38 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 93.589 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 
total registered or dealer  19,040,237.125 oz or 592.23 tonnes
 
 
total weight of pledged:  2,052,582.012 oz or 63.84 tonnes
 
 
thus:
 
registered gold that can be used to settle upon: 16,987,655.0  (528,38 tonnes)
 
 
 
true registered gold  (total registered – pledged tonnes  16,987,655.0 (528.38 tonnes)
 
 
 
total eligible gold:  19,118,343.083 oz (594.66 tonnes)
 
 

total registered, pledged  and eligible (customer) gold  38,158,580.210 oz 1,186.89 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1060.55 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 29/2020

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

 
END

 

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
nil oz
 
 
 
 
 
 
Deposits to the Dealer Inventory
546,552.500 oz
 
Manfra
 
 
 
 
Deposits to the Customer Inventory
15,029.601 oz
 
 
 
Delaware
 
 
 
 
 
 
 
 
No of oz served today (contracts)
53
 
CONTRACT(S)
(265,000 OZ)
 
No of oz to be served (notices)
0 contracts
 NIL oz)
Total monthly oz silver served (contracts)  9326 contracts

 

46,630,000 oz)

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

total dealer deposits: nil       oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 1 deposits into the customer account (ELIGIBLE ACCOUNT)

i(Into JPMorgan: 0)
ii) into Delaware: 15,029.601 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: 15,029.601    oz

we had 0 withdrawals:

 

 
 

total withdrawals nil      oz

We had 5 adjustments: all dealer to customer

Brinks:  1,442,143.360 oz

CNT:  377,953.340 oz

Int Delaware: 192,987.364 oz

Manfra: 50,660.000 oz

Scotia: 601,359.300 oz

 
 

Total dealer(registered) silver: 150.023million oz

total registered and eligible silver:  395.952 million oz

 

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December saw a LOSS of  70 contracts DOWN to 53 contracts. We had 5 notices served upon yesterday so we LOST 65 contracts or AN ADDITIONAL 325,000 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  202 contracts DOWN to 1081. FEBRUARY saw another gain of 85 contracts to stand at 444.  MARCH  GAINED 2293 contracts up to 145,095.

JANUARY WILL ALSO BE A VERY PPOR DELIVERY MONTH AS THERE IS NO SILVER OVER HERE!

The total number of notices filed today for DEC 2020. contract month is represented by 53 contract(s) FOR 265,000 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 9326 x 5,000 oz = 46,630,000 oz to which we add the difference between the open interest for the front month of DEC ( 53) and the number of notices served upon today 53x (5000 oz) equals the number of ounces standing.

Thus the DEC standings for silver for the DEC/2019 contract month: 9326 (notices served so far) x 5000 oz + OI for front month of DEC(53)- number of notices served upon today (53) x 5000 oz of silver standing for the NOV contract month .equals 46,630,000 oz. ..VERY STRONG FOR AN ACTIVE  DEC MONTH.

We LOST 65 contracts or325,000 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 64,004 CONTRACTS // volume poor//

FOR YESTERDAY  86,103  ,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  FALLS TO- 3.15% ((DEC 29/2020)

2. Sprott gold fund (PHYS): DISCOUNT to NAV  FALLS TO 1.76% to NAV:   (DEC 29/2020 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/3.15% (DEC 29)

(courtesy Sprott/GATA

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

NAV 19.76 TRADING 19.10///NEGATIVE 3.36

END

And now the Gold inventory at the GLD

DEC.29//WITH GOLD UP $1.65 TODAY: A DEPOSIT OF  2.53 TONNES  CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1169.86 TONNES.

DEC 28WITH GOLD DOWN $3.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1167.53 TONNES

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 29/ GLD INVENTORY 1169.86 tonnes

LAST;  973 TRADING DAYS:   +225.99 TONNES HAVE BEEN ADDED THE GLD

LAST 873 TRADING DAYS// +403.615  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

Now the SLV Inventory

DEC 29/WITH SILVER DOWN 22 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.138 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 557.089 MILLION OZ

DEC 28/WITH SILVER UP 57 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/:

////INVENTORY RESTS AT 554.951 MILLION OZ//

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 29.2020:

SLV INVENTORY RESTS TONIGHT AT  557.089 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

Defined pension plans are killing firms still offering these to employees especially governments.

Chappatta/BloombergNews/GATA)

Pensions swamped in a sea of negative real rates

 
 Section: 

 

By Brian Chappatta
Bloomberg News
Monday, December 28, 2020

Defined-benefit pension plans were already barely treading water heading into 2020. In the years ahead, the risk is as great as ever that a large swath of them will drown.

As the name implies, defined-benefit pensions promise to pay a set amount to retirees. While corporate America has largely moved away from this structure in favor of 401(k) options (or “defined contribution” plans), virtually all state and local governments still offer these reliable retirement payouts. And they’ve been falling behind in a big way.

In the 2019 fiscal year, states had $1.48 trillion in unfunded pension liabilities, while the 50 largest local governments faced $478 billion in adjusted net pension liabilities, according to calculations from Moody’s Investors Service. The 100 largest corporate defined-benefit plans had a deficit of $285 billion in November, according to Milliman data.

That $2 trillion hole is only going to get deeper as the Federal Reserve pledges to keep interest rates near record-low levels for years to come as the U.S. emerges from the Covid-19 pandemic.

Moody’s, unlike many states and cities, uses a market-based discount rate to determine the present value of a pension’s future liabilities. The lower the rate, the larger the current value. Analysts expect to apply a 2.7% rate to local governments’ fiscal 2021 reporting, down from 4.14% in fiscal 2018 and about the same as Milliman’s current discount rate for corporate pensions. It will likely cause pension shortfalls “to increase by double-digit percentages” in the next two years, Moody’s says. …

… For the remainder of the analysis:

https://www.bloomberg.com/opinion/articles/2020-12-28/pensions-swamped-i…

END

Gold miners are set for another good year as they focus on discipline as margins increase and they will be rewarded with increased cash flow

(Bloomberg/GATA)

Gold miners set for another banner year with focus on discipline

 
 Section: 

 

By Aoyon Ashraf
Bloomberg News
Monday, December 28, 2020

The good times for gold miners are expected to continue next year, especially for those able to tighten spending and increase returns to investors.

The rally in gold prices has helped miners expand their margins and generate record levels of free cash flow, allowing many to pass on profits to shareholders already, Scotiabank analyst Tanya Jakusconek said.

“With miners’ balance sheets in great shape, we believe investors will benefit from much higher dividends over the coming years,” Jakusconek wrote in a note to clients. Kinross Gold Corp., for example, offers “particularly compelling value” as long as it continues to demonstrate sustainable cash flow over the coming quarters. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-12-28/gold-miners-set-for-a…

END

iii) Other physical stories:

Ripple plunges after exchange Coinbase announces it will suspend XRP trading

(CoinTelegraph)

Ripple Plunges After Coinbase Announces It Will Suspend XRP Trading

 
 
TUESDAY, DEC 29, 2020 – 7:24

Submitted by Cointelegraph

Major cryptocurrency exchange Coinbase will suspend trading for XRP in response to the SEC taking legal action against Ripple.

According to a blog post published late on Monday by Coinbase chief legal officer Paul Grewal, the exchange will fully suspend XRP trading starting on Jan. 19 at 10:00 am PST. Coinbase clarified that “trading may be halted earlier as needed” to maintain the exchange’s market health metrics. In addition, the suspension will reportedly not affect Ripple-backed Flare Network’s upcoming Spark (FLR) token airdrop.

“The trading suspension will not affect customers’ access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension,” said Grewal. “We will continue to support XRP on Coinbase Custody and Coinbase Wallet.”

The U.S.-based exchange is the largest so far to take a position on XRP following the Dec. 22 announcement that the SEC will charge Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen with conducting an “unregistered, ongoing digital asset securities offering.”

Earlier today, crypto exchange OKCoin announced that it will suspend XRP trading and deposits beginning on Jan. 4. Bitstamp stated it will halt XRP trading for U.S. residents, while smaller exchanges including OSL, Beaxy and CrossTower announced they will take similar actions against trading the token.

Some crypto users are anticipating other exchanges falling in line like dominoes to delist or suspend trading of XRP now that a major player like Coinbase has taken a position on the token.

“You will soon see Kraken, Bittrex, Genesis, Grayscale and other members of the Crypto Rating Council delist it too,” said Twitter user PratikKala. “Liquidity will dry up and the remaining market makers in Asia will have to exit it too.”

Grayscale Investments may have already have distanced itself from XRP. According to Twitter user “ShardiB2,” the firm is reportedly ending subscriptions for its XRP Trust by announcing it would no longer accept new subscriptions or process pending ones. The Grayscale website declares that “The Grayscale XRP Trust private placement is currently closed.”

Following the Coinbase announcement, the price of XRP immediately dropped nearly 30%, falling from $0.28 to $0.20 at the time of publication. This is the latest in a series of bearish movements for the token, the price of which has fallen more than 50% since the SEC announcement.

end
 
 
Dubai wishes to be a leader as a gold hub with its strong Dubai Gold Souk.  Dubai (and the uAE) has no gold so
 
it must import gold from wherever they can.. Here is Dubai’s story:
 
(Koenig_GlobalResearch.ca)

Blood Gold – Dubai’s “Gold Hub” & The Swiss Connection

 
TUESDAY, DEC 29, 2020 – 5:00

Authored by Peter Koenig via GlobalResearch.ca,

The Middle East Eye reports there are no gold mines under Dubai’s sands with artisanal miners or children toiling away trying to strike gold. But there is the Dubai Gold Souk and refineries that vie with the largest global operations as the United Arab Emirates (UAE) strives to expand its position as a major gold hub.

In recent years, the UAE, with Dubai in particular, has established itself as one of the largest and fastest-growing marketplaces for the precious metal, with imports rising by 58 percent per annum to more than $27bn in 2018, according to data collated by the Observatory for Economic Complexity.

With no local gold to tap, unlike neighboring Saudi Arabia, the UAE has to import gold from wherever it can, whether it be legitimately, smuggled with no questions asked, sourced from conflict zones, or linked to organized crime.

Blood Gold

The Sentry’s investigation (Sentry Investigations specialize in private and corporate investigations in the UK) found that 95 percent of gold officially exported from Central and East Africa, much of it mined in Sudan, South Sudan, the Central African Republic and the Democratic Republic of Congo, ends up in the Emirates.

Gold has become so important to Dubai’s economy that it is the emirate’s highest value external trade item, ahead of mobile phones, jeweler, petroleum products and diamonds, according to Dubai Customs.

And it is the UAE’s largest export after oil, exporting $17.7bn in 2019. 

Gold’s importance has only increased as Dubai’s oil reserves have dwindled and the UAE has tried to diversify its economy.

The Swiss connection

Dubai is not the only gold player with dirt, and even blood, on its hands.

“It is not just Dubai, it’s also Switzerland. The Swiss get large quantities of gold from Dubai. The Swiss say they are not getting gold from certain countries [connected to conflict gold], but instead from Dubai, yet the gold in Dubai is coming from these countries. Dubai is complicit, but Swiss hands are equally dirty as they can’t cut Dubai from the market,” said Lakshmi Kumar, policy director, at Global Financial Integrity (GFI) in Washington DC.

Switzerland is the world’s largest refiner, while [more than half] of all gold goes through the country at some point, according to anti-corruption group Global Witness. Switzerland’s trade is tied to the UK, which imports around a third of all gold.

PressTV: Gold has become such an important commodity for the UAE, that it is the largest export after oil, exporting $17.7bn in 2019. But there is the other side to this story. A report by the UK’s Home Office and Treasury earlier in December also named the UAE as a jurisdiction vulnerable to money laundering by criminal networks because of the ease with which gold and cash could be moved through the country. Is this the case?

Peter Koenig: First, International Gold Laundering is a gigantic Human Rights abuse, foremost because laundered gold stems from many countries in Africa and South America where massive child labor is practiced. Children not only are put at tremendous risk working in the mines, in narrow rickety underground tunnels that could collapse anytime, and often do – but they are also poisoned on a daily basis by chemicals used in extracting gold ore from the rock, notably cyanide and mercury – and others.

Second, Gold laundering is an international crime, because it illegal and it is mostly run by mafia type organizations – where killing and other type of violence, plus sexual abuse of women – forced prostitution – is a daily occurrence.

There should be an international law – enforceable – issued by the UN – and enforced by the International Criminal Court against anything to do with gold laundering. Infractions should be punished. And countries involved in gold laundering should be held responsible – put on a black list for illegal financial transactions and for facilitating human rights abuses.

The United Arab Emirates – has no gold, so all of the $17.7 billion of their gold exports is being imported and “washed” by re-exporting it mainly through the UK into Switzerland and other gold refining places, like India.

With a worldwide production of about 3,500 tons, there are times when Switzerland imports more gold than the annual world production, most of it coming from the UK, for further refining or re-refining, for “better or double laundering” – erasing the gold’s origins.

From the refinery in Switzerland, it goes mostly into the banking system or is re-exported as “clean” gold coming from Switzerland. And its origins are no longer traceable.

Worldwide about 70% of all gold is refined in Switzerland.

Gold mine production totaled 3,531 tons in 2019, 1% lower than in 2018. About 70% of all gold, worldwide is refined in Switzerland. So, it is very likely that the UK, receiving gold from United Arab Emirates, re-exports the gold to Switzerland, for re-refining, for further export to, for ex. India. – Coming from Switzerland it has the “label” of being clean. How long will this reputation still last?

Metalor is the world’s largest gold refinery – established in Switzerland. And they are absolutely secretive, do not say where they buy their gold from, because the Swiss Government does not require the origin when gold enters Switzerland.

Once it is refined – the origin can no longer be determined, because gold does not have a DNA.

PressTV: The Sentry’s investigation found that 95 percent of gold officially exported from Central and East Africa, much of it mined in Sudan, South Sudan, the Central African Republic and the Democratic Republic of Congo, ends up in the emirate, through what’s known as blood gold:  gold obtained through brutal mining practices and illicit profits, including the use of children, how do you see this?

PK: Yes, this is absolutely true.

As mentioned already before – much of the gold from Africa / Central Africa, Ghana and South America, notably Peru, is blood gold. Of course, it passes through many hands before it lands in a refinery in the UK, Switzerland or elsewhere, and therefore is almost untraceable.

But, the company that buys the gold, like Metalor, they know exactly where the gold is coming from, but, as mentioned before, since the Swiss government does not require the importing company to divulge the origin of the gold – the human rights abuses will never come to light, or better – to justice.

It is estimated that up to 30% of all gold refined in Switzerland is considered blood gold. Imagine the suffering, disease, and even death – or delayed death through slow reacting chemicals like cyanite and mercury.

However, if there is no international law – a law that is enforced – that puts the criminals to justice – and put countries that facilitate gold laundering on an international list – for the world to see – and hold them accountable, with for example financial sanctions, little will change.

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

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

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

 

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

71671201

Spencer Platt | Getty Images

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

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

 

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

 
 

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

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

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

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

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

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

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

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

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

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

end

March 4.2019

Parker City News

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kovel declined to comment.

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

-END-

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

 

 Section: 

9:47a ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

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

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

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

… 

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

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

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

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

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

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

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

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

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

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

* * *

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

i) Chinese yuan vs USA dollar/CLOSED UP AT 6.5315 /

//OFFSHORE YUAN:  6.5218   /shanghai bourse CLOSED DOWN 18.25 PTS OR .56%

HANG SANG CLOSED UP 253.86 PTS OR 0.96%

2. Nikkei closed UP 714.12 POINTS OR 3.66%

3. Europe stocks OPENED ALL GREEN/

USA dollar index DOWN TO 90.02/Euro RISES TO 1.2258

3b Japan 10 year bond yield: RISES TO. +.03/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 107.85/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST BELOW 17,000

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

3e WTI:: 48.11 and Brent: 51.44

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.57%/Italian 10 yr bond yield UP to 0.55% /SPAIN 10 YR BOND YIELD UP TO 0.05%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.12: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.62

3k Gold at $1879.60 silver at: 26.24   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 13/100 in roubles/dollar) 73.66

3m oil into the 48 dollar handle for WTI and 51 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 103.67 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 .8864 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0863 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.57%

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

4. USA 10 year treasury bond at 0.946% early this morning. Thirty year rate at 1.691%

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

6.  TURKISH LIRA:  UP  TO 7.366..

Futures Hit New Record High After House Approves $2,000 Stimulus Checks

 
TUESDAY, DEC 29, 2020 – 8:04

US index futures and global stocks rose for a fourth straight day, hitting new all time highs on Tuesday after the Democrat-controlled House sided with Trump and passed a bill boosting stimulus payments for most Americans from $600 to $2,000 (which will almost certainly die in the Republican-controlled senate). The dollar dropped while oil and 10Y yields rose.

At 07:30 am ET, Dow E-minis rose 129 points or 0.43%, S&P 500 E-minis gained 16 points or 0.43% and Nasdaq 100 E-minis added 46.25 points or 0.36%.

Boeing added 0.6% in pre-market trade as American Airlines was set to restart U.S. 737 MAX commercial flights on Tuesday morning. Apple was up 0.6% before the bell, set to open at $137.44 and extending a rally that has returned it near record levels. The stock rose 3.6% on Monday and closed at a record, though it fell short of an intraday peak of $137.98 set in September. The iPhone maker has gained 86% this year, and it is set to close out a second straight year with a gain above 80%

The late December rally comes just as expected, with a seasonal analysis conducted at the start of the month showing that the last 10 days of December – already the strongest month for stocks which are up 74% of the time with an average return of 1.3%…

… tend to be the most bullish for stocks.

US cash indexes closed at a new all-time highs on Monday, with pandemic-battered stocks leading the gains after Trump signed a long-awaited $2.3 trillion fiscal bill, restoring unemployment benefits to millions of Americans and averting a federal government shutdown. Goldman Sachs Group Inc. upgraded its first-quarter U.S. economic growth forecast because of the measure. The S&P is looking at its best fourth-quarter performance since 2011 as investors returned to economically-sensitive stocks from the so called ‘stay-at-home’ plays on hopes of economic recovery.

Adding to stimulus optimism, on Monday the Democratic-led House of Representatives approved a proposal to increase the COVID-19 payment checks to $2,000 from $600, sending the measure for a vote in the Republican-controlled Senate on Tuesday, where it faces a much tougher path for approval.

“Where we are right now in the equity market is somewhat of a sweet spot,” Michael Cuggino, president and portfolio manager at Permanent Portfolio Family of Funds, said on Bloomberg TV. “We’ve got stimulus, likely more on the way. You’ve got great comps on earnings going into next year with respect to equities, and you have a pent up demand situation as the economy both in the U.S. and globally comes out of Covid.”

On the coronavirus front, more restrictions are being imposed to fight the spread of the new, more infectious strain. Covid-19 hospitalizations in the U.S. reached new highs, while Southern California plans to extend a regional stay-at-home order. South Korea’s daily toll of fatalities rose to a record, while Thailand reported its first virus death since November.

The MSCI World Index was up 0.4% with US futures tracking broad-based gains in Europe and overnight in Asia.

In Europe, the Stoxx 600 rose 0.9%, with every subsector apart from banks in the green. The FTSE 100 rose 2.1%, on course for its fourth straight day of gains in the first session since the U.K.’s Christmas Eve trade deal with the European Union. Lenders including Lloyds Banking Group Plc and NatWest Group posted losses amid an uncertain future for the City of London. Britain’s blue-chip shares led regional markets higher.

“Multinationals, who are the likeliest beneficiaries of frictionless, tariff-free trade, and overseas currency earners are generally leading the charge in the FTSE 100,” said Russ Mould, investment director at AJ Bell. Propping up the London market were banks and other financial services. “This suggests that nerves remain over what deal will be struck in 2021 when it comes to financial services and indeed services overall.”

Analysts have gotten more upbeat on the FTSE 100, raising their 12-month forward price target by about 2.2% this month versus about 1.6% for the DAX.

Also among the gainers was drugmaker AstraZeneca buoyed by news its COVID-19 vaccine is set to be granted emergency use approval within a few days by the UK government. The launch of the European Union’s vaccination program, hoping to end the widespread lockdowns that have stalled economies across the bloc, saw that positive sentiment shared with the continent, where beaten-down travel and leisure stocks rose 2.3%.

Earlier in the session, Asian stocks also rose for a third day, helped by a rebound in Chinese internet stocks and bullish sentiment, most notably in Japan, following the passage of a U.S. stimulus bill. A recovery in shares of Tencent and Meituan, which had been falling amid antitrust scrutiny of Alibaba, helped the MSCI Asia Pacific Index gain 1%, the most since Dec. 1. Japan’s Nikkei 225 rallied 2.7% to surpass the 27,000 yen mark for the first time in three decades. It was the best day for the gauge in more than six months, with gains contributed by SoftBank Group and Uniqlo operator Fast Retailing, which hit another record high. New Zealand’s benchmark jumped 1.6%, while stocks in Australia also rose as both markets resumed trading after a holiday. The Philippines’ benchmark index rose in its last trading day for 2020, but finished the year down 8.6%. Malaysia was among the few markets that bucked the region’s rising trend, falling 0.5% as shares in glove makers dragged the index lower. Indonesian shares also declined.

In rates, treasuries were cheaper but traded inside Monday’s ranges as U.S. trading got under way amid gains for stocks globally fueled by U.S. stimulus agreement and Brexit relief; S&P 500 futures set a new record. Treasury 10-year notes were cheaper by less than 2bp at 0.94%. Yields are higher by less than 3bp across the curve ahead of record $59b 7Y auction at 1pm ET, final event in this week’s coupon supply cycle. Yields on European government debt edged lower, with blue-chip 10-year German bond yields at 0.57% and riskier Italian, Spanish and Portuguese yields also lower.

In FX, demand for riskier assets weakened the U.S. dollar, which is often seen as a safe-haven asset. It was down 0.2% against a basket of currencies and eyeing the 18-month low hit in November. Shorting the dollar has been an extremely popular trade, with Reuters reporting that short positions on the dollar swelled in the week ended Dec. 21 to $26.6 billion, the highest in three months. Among other currencies, sterling rose 0.4% against the dollar, reversing two days of losses, while the euro climbed for the third day in a row, up 0.3%, also buoyed in part by talk of an EU-China trade pact.

In commodities, the prospect of even more stimulus and higher demand helped boost oil prices with Brent crude futures and U.S. West Texas Intermediate both up around 1.2%.  A sluggish dollar bolstered gold prices, which rose 0.4%.

No major economic data releases or U.S. company earnings are expected

Market Snapshot

  • S&P 500 futures up 0.5% to 3,745.75
  • MXAP up 1% to 196.89
  • MXAPJ up 0.5% to 645.95
  • Nikkei up 2.7% to 27,568.15
  • Topix up 1.7% to 1,819.18
  • Hang Seng Index up 1% to 26,568.49
  • Shanghai Composite down 0.5% to 3,379.04
  • Sensex up 0.5% to 47,608.42
  • Australia S&P/ASX 200 up 0.5% to 6,700.29
  • Kospi up 0.4% to 2,820.51
  • Brent Futures up 0.9% to $51.32/bbl
  • Gold spot up 0.5% to $1,882.77
  • U.S. Dollar Index down 0.3% to 90.08
  • STOXX Europe 600 up 1.1% to 403.06
  • German 10Y yield fell 0.6 bps to -0.571%
  • Euro up 0.2% to $1.2241
  • Brent Futures up 0.9% to $51.32/bbl
  • Italian 10Y yield fell 4.6 bps to 0.428%
  • Spanish 10Y yield fell 0.9 bps to 0.041%

Top Overnight News

  • Republicans will likely block Democrats’ attempts to have the Senate follow the House in boosting stimulus payments for most Americans to $2,000, even though President Donald Trump backs the bigger checks.
  • The trade deal that both sides of the English Channel say reflects a new era of cooperation is essentially a sideshow for the City of London, which is still awaiting its own seal of approval from the European Union.
  • European governments are planning to track the number of people getting Covid-19 vaccines to help chart a path out of the crisis.

US Event Calendar

  • 9am: S&P CoreLogic CS 20-City MoM SA, est. 1.0%, prior 1.27%; YoY NSA, est. 6.95%, prior 6.57%

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED DOWN 18.25 PTS OR .56%   //Hang Sang CLOSED UP 253.86 PTS OR .96%    /The Nikkei closed UP 714.12 POINTS OR 2.65%//Australia’s all ordinaires CLOSED UP 0.56%

/Chinese yuan (ONSHORE) closed UP AT 6.5315 /Oil UP TO 48.11 dollars per barrel for WTI and 51.44 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED UP AT 6.5315 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5218 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/

China crackdown on antitrust issues with its largest Tech companies.  That has lead to massive losses on its stock exchange.

(zerohedge)

 

China’s Antitrust Crackdown On Tech’s Giants Leads To Massive Losses

 
MONDAY, DEC 28, 2020 – 19:20

China’s continued crusade against Jack Ma – which may or may not culminate with Beijing tearing apart his fintech giant, Ant Financial on anti-trust grounds – led to a second day of frenetic selling among China’s largest tech firms, driven by an investor panic Beijing’s crackdown on financial intermediaries and antitrust scrutiny would spread beyond Jack Ma’s internet empire and engulf the country’s most powerful corporations.

As Bloomberg reports, Alibaba and its three biggest rivals – Tencent, food delivery giant Meituan and JD.com – were hammered in the past 48 hours, losing nearly $200 billion in the two sessions since Thursday when regulators revealed a probe into alleged monopolistic practices at Ma’s company, which was followed on Sunday by comments from PBOC deputy governor Pan Gongsheng who slammed the world’s biggest fintech company, Ant Financial, which is also owned by Ma saying it “must return to its origins in online payments and prohibit irregular competition, protect customers’ privacy in operating its personal credit rating business, establish a financial holding company to manage its businesses, rectify any irregularities in its insurance, wealth management and credit businesses, and run its asset-backed securities business in accordance with regulations.”

Traders were stunned by what appears to be the formal start of the Communist Party’s crackdown on not just Alibaba but also, potentially, the wider and increasingly influential tech sphere; as a result they quickly puked the Chinese tech megacaps, with Alibaba falling 8% Monday in Hong Kong, losing $270 billion of value since its October peak. Tencent and Meituan also tumbled more than 6%. Alibaba rival JD.com slid roughly 2%.

“The Chinese government is putting more pressure or wants to have more control on the tech firms,” Jackson Wong, asset management director at Amber Hill Capital, told Bloomberg. “There is still very big selling pressure on firms like Alibaba, Tencent or Meituan. These companies have been growing at a pace deemed by Beijing as too fast and have scales that are too big.”

So far Beijing’s ultimate intentions vis-a-vis Jack Ma and his online tech empire remain unclear, but as we noted yesterday, “the worst case scenario would be for Ant to forgo its money management, credit and insurance businesses, halting its operations in the units that service half a billion people. Its wealth management business which includes the Yu’ebao platform that sells mutual funds and money market funds, accounted for 15% of revenue.”

Today Bloomberg picks up on this, writing that “investors remain divided over the extent to which Beijing will go after Alibaba and its compatriots as Beijing prepares to roll out the new anti-monopoly regulations. The country’s leaders have said little about how harshly they plan to clamp down or why they decided to act now.”

As Bloomberg adds, it’s unclear what concessions regulators may try to wring from Alibaba. Under the existing Antitrust Law, which is undergoing revisions to include the internet industry for the first time, Beijing can fine violators up to 10% of their revenue. In Alibaba’s case, that could mean a levy of as much as $7.8 billion.

Of course, the heavily sold tech names aren’t just sitting their: on Monday Alibaba raised its stock repurchase program by $4 billion to $10 billion, effective for two years through the end of 2022. But the buyback program was overwhelmed by fears that the steps taken against Ant are just the tip of the iceberg. While the central bank stopped short of calling for a breakup, the financial services giant now needs to present specific measures and a timetable for overhauling its business.

The State Administration for Market Regulation dispatched officials to Alibaba’s Hangzhou headquarters last Thursday and the on-site investigation was completed on the day, according to local news reports. The People’s Daily — the Communist Party mouthpiece — ran a commentary over the weekend warning Alibaba’s peers to take the antitrust investigation into Alibaba as a chance to lift their own awareness of fair competition.

Meanwhile, as we noted over the weekend, the formerly outspoken Ma has vanished from public view since Ant’s IPO got crushed by Beijing in the last moment in November. As of early December, Ma was advised by the government to stay in the country, a Bloomberg source said.

What happens next?

According to Bloomberg, “some analysts predict there’s a crackdown coming, but a targeted one.” They point to language in the regulations that suggests a heavy focus on online commerce, from forced exclusive arrangements with merchants known as “Pick One of Two” to algorithm-based prices favoring new users. The regulations specifically warn against predatory pricing – selling below cost – to weed out rivals.

“As this latest investigation occurs at a time when China is ready to take action against monopolistic practices, we think SAMR might want to use BABA’s case as a precedent to send a message to the rest of the industry that the authority is determined this time to address the” pricing issue, Nomura analysts wrote in a note Monday.

END

Trump’s Parting Shot: China Rips Pro-Taiwan & Tibet Measures In Spending Package

 
MONDAY, DEC 28, 2020 – 21:00

China has reacted fiercely to what it says is anti-China language and policies contained in the huge $2.3 trillion spending package President Trump signed Sunday night, namely centered on Tibet Policy and Support Act and the Taiwan Assurance Act.

China’s foreign affairs minister Zhao Lijian expressed the Chinese Communist Party’s anger, saying the country is “resolutely opposed” to the two measures as they unfairly “target China” and constitute blatant interference in its own foreign affairs and relations.

Urging Washington to not enforce those parts of the two bills within the spending package, Lijian said further that “The determination of the Chinese government to safeguard its national sovereignty, security, and development interests is unwavering,” according to Reuters.

The sections are part of a controversial series of foreign aid related massive spending stipulations contained within the nearly 6,000 pages which have now become law.

The Tibet Policy and Support Act further bans China from establishing new consulates in the US until the US is able to do so freely in Tibet.

Moreover, the bill specifically directs the secretary of state to establish an American consulate in Tibet, which has long been claimed by China in a situation parallel to the historic standoff over the Republic of Taiwan..

The bill also targets Chinese officials for travel bans if they are deemed “complicit in identifying or installing a government-approved candidate” to succeed the Dalai Lama.

As for the Taiwan Assurance Act, it aims to solidify a 1979 US law that affirms “substantive ties” between the US and Taiwan, including more weapons sales and increased moves toward normalization.

This after over the past months the US and Taiwan have inked deals for a record breaking series of advanced weapons transfers, which Beijing sees as a blatant violation of the previously agreed upon longtime ‘One China Policy’ status quo.

END
CHINA/APPLE
Explosive report alleges extensive use of force labour at Apple suppliers in China
(zerohedge)

Explosive Report Alleges Extensive Use Of Forced Labor At Apple Suppliers In China

 
TUESDAY, DEC 29, 2020 – 10:50

As Apple continues to lobby against the Uygher Forced Labor Prevention Act, a bill intended to punish Chinese companies that utilize forced labor from the persecuted Muslim minority group, the Washington Post has just rolled out a lengthy investigation, conducted in partnership with a human-rights group, exposing Apple suppliers’ links to forced labor.

Breaking news that threatens to revive the outrage over the fraught ethical status of Apple’s supply chain. 10 years ago, when stories about Foxconn’s labor abuses first emerged, coverage seemed to focus on macabre stories of long shifts, low pay and suicide nets strung up around manufacturing facilities to stop workers from leaping to their deaths.

Over the past ten years, as China’s currency has appreciated and its economy has continued the (state-orchestrated) transition toward a more “developed” services-based economy, wage-growth has accelerated and stories about labor abuses in the “People’s Republic” have tapered off.

As cheap labor disappeared, China’s manufacturers have, according to WaPo, turned to forced labor in the form of Uyghers and, presumably, others entangled in China’s penal system.

The CCP has reportedly placed more than 1MM Muslims in concentration camps or forced them to work in factories that produce everything from cotton to electronics.

Apple’s products are produced by an extremely complex array of more than 1K suppliers around the world, many of which interact with Apple through middlemen. The consumer tech behemoth has gone to extreme lengths to try and whitewash labor abuses. It publishes the results of an annual supply chain audit (the latest edition can be read here).

But even as Apple has continued to deny any knowledge of labor abuses among its biggest suppliers, documents procured by human rights group “the Tech Transparency Project” and shared with the Washington Post offer evidence to the contrary. The documents reportedly detail how thousands of prisoners from the far-western Xinjiang Province were dispatched to work as forced laborers in factories run by Lens Technology, one of Apple’s most critical and longest-serving suppliers. The company makes touch-panel glass critical to the iPhone’s functionality.

Lens was one of five Apple suppliers fingered for alleged use of forced labor by the TTP. Lens also has business ties with Amazon and Tesla.

The documents, discovered by the Tech Transparency Project and shared exclusively with The Washington Post, detail how thousands of Uighur workers from the predominantly Muslim region of Xinjiang were sent to work for Lens Technology. Lens also supplies Amazon and Tesla, according to its annual report.

Lens Technology is one of at least five companies connected to Apple’s supply chain that have now been linked to alleged forced labor from the Xinjiang region, according to human rights groups. Lens Technology stands out from other Apple component suppliers because of its high-profile founder and long, well-documented history going back to the early days of the iPhone.

“Our research shows that Apple’s use of forced labor in its supply chain goes far beyond what the company has acknowledged,” said Katie Paul, director of the Tech Transparency Project.

Apple spokesman Josh Rosenstock said the company has confirmed that Lens Technology has not received any labor transfers of Uighur workers from Xinjiang. He said Apple earlier this year ensured that none of its other suppliers are using Uighur labor transferred from Xinjiang.

“Apple has zero tolerance for forced labor,” Rosenstock said. “Looking for the presence of forced labor is part of every supplier assessment we conduct, including surprise audits. These protections apply across the supply chain, regardless of a person’s job or location. Any violation of our policies has immediate consequences, including possible business termination. As always, our focus is on making sure everyone is treated with dignity and respect, and we will continue doing all we can to protect workers in our supply chain.”

Approached for comment by WaPo, the Foreign Ministry in Beijing insisted that forced labor is “non-existent” in China.

In response to faxed questions from The Post, the Foreign Ministry in Beijing called forced labor in China “nonexistent” and accused people with “ulterior motives“ of fabricating it. It said a number of companies had hired auditors to conduct investigations, which “confirmed the nonexistence of ‘forced labor.’“ It did not name the companies.

Interestingly, the TTP was apparently tipped off to the forced labor at Lens by an article in the state press, which quoted one of the workers talking about how they aimed to make more money to help their family rise out of poverty.

In February, Uighur workers from Xinjiang destined for a Lens Technology factory were among the first passengers to fly on a chartered flight within China after the pandemic shut down civil aviation, according to an article highlighted in the Tech Transparency Project’s report. The China Southern Arlines flight from Hotan to Hunan was covered by a Chinese news agency focused on the airline industry.

“Although they are young, most of them have two years of experience,” the article says. “In the new year, I still want to continue to work hard, learn more skills, earn more money, so that my family can live a good life out of poverty and let parents rest assured,” one of the workers is quoted as saying in the article. Human rights workers say news articles like these are the result of coordinated government propaganda.

Lens founder Zhou Qunfei won plaudits in the Western Press after she rose to prominence in 2015, when the company she founded from the ground up went public. Born into poverty in a small village, Qunfei eventually rose to become one of the world’s only truly self-made billionaires (sorry, Kylie).

According to the report, the government-orchestrated forced labor transfers to Lens have been going on for at least 2 years, accelerating during 2017, as the CCP ramped up its crackdown on the Uyghers. Going into more detail about the nature of the bondage, the report claims that the CCP typically gives workers two choices: either work in a factory, or languish in a detention camp. In the US, we call that an “offer you can’t refuse.”

What’s even more shocking is that Beijing isn’t even trying to hide this activity. Instead, state media has published a flood of propaganda videos seeking to portray the indentured servants as upwardly mobile social climbers.

Judging by the length and detail of the WaPo report, we suspect this might be the first in a series as the Bezos-owned paper launches a full-on assault against one of its owners biggest rivals.

end
CORONAVIRUS UPDATE/CHINA/GLOBE

Parts Of Beijing Locked Down For 1st Time Since July As US COVID Vaccinations Lag: Live Updates

 
TUESDAY, DEC 29, 2020 – 11:40

Summary:

  • Dr. Fauci complains about lagging vaccinations in US
  • Parts of Beijing locked down for first time since July
  • Data delays continue in US
  • Global cases near 81.5MM
  • Arizona sees record daily deaths
  • Ireland weighs even tighter restrictions
  • Netherlands outbreak slows
  • “Limited” vaccine doses allocated to House members

* * *

As the haggling over the $2K stimulus check continues to occupy headlines in the US, Dr. Fauci on Tuesday reiterated his warnings about January being even worse than December in terms of the severity of the COVID outbreak, taxing hospital staff already stretched to the breaking point in places like LA.

Dr. Fauci also pointed out in an interview that Operation Warp Speed is on track to miss its year-end vaccination target by a massive margin (with roughly 2.13MM doses administered in the US, we’re on track to see just 10% of the 20MM goal). He told CNN that he had hoped more Americans would have been vaccinated by now.

Data from across the US remained incomplete for yet another day, as various states struggled to catch up with holiday-related delays.

According to the COVID Tracking Project, over the next couple of days, states will catch up on some reporting, but we’re unlikely to see data return to normal for quite some time.

Globally, the world has confirmed just under 81.5K cases, according to Johns Hopkins, while the official death toll has reached 1.778MM. More than 4.6MM doses of the Pfizer and Moderna vaccines have been doled out internationally, along with the official vaccination numbers from Russia and China (though China is believed to have quietly vaccinated millions under accelerated emergency-use measures).

NYC has vaccinated nearly 70K people,

On the China front, what started as enhanced travel restrictions has escalated in Beijing on Tuesday amid whispers about another wave of outbreaks in China.

Yesterday, footage purporting to show health workers spraying disinfectant in Dalian helped to stoke the rumors on western social media.

But just a few hours ago, as night spreads across China, reports emerged that 10 areas of Shunyi district in the Chinese capital were sealed off on Tuesday after seven native COVID-19 cases were recorded. The alarming spike in “native” (as opposed to “imported”) cases has inspired the biggest lockdown in the capital since July. Xinhua previously reported that more than 1MM people in the city were tested Monday during a mass-testing campaign.

In what appeared to be another attempt to distract from this latest outbreak, Chinese state-backed media reported that traces of the virus had been discovered on the packaging of meat shipped from Mexico. China has repeatedly circulated reports exaggerating the prospects of contaminated foreign meat and fish.

Over in Europe, as the first week of EU vaccinations continues, Brussels has agreed to purchase an additional 100MM doses of the vaccine developed by Pfizer and BioNTech.

Here’s some more news from Tuesday morning:

  • Arizona on Tuesday reported 171 new deaths from Covid-19, the largest single-day toll since late July. The latest fatalities pushed the state’s total number to 8,640 since the pandemic began. With 2,799 new cases recorded, the state has seen 507,222 total (Source: Bloomberg).
  • The number of coronavirus cases in the Netherlands fell in the past seven days, according to health agency RIVM. In the week ending Dec. 29, 67,388 new Covid-19 cases were confirmed, down from the 82,340 reported in the prior seven days (Source: Bloomberg).
  • Ireland’s government will meet on Wednesday to weigh tighter restrictions to limit the virus’s spread, Health Minister Stephen Donnelly told RTE Radio (Source: Bloomberg).
  • A limited supply of coronavirus vaccine is now available to staff in the U.S. House of Representatives, according to a memo House Attending Physician Brian Monahan sent to lawmakers (Source: Bloomberg).

* * *

* * *

One more note on the vaccine front: In the latest blow to vaccine credibility in Europe, thee European Medicines Agency is reportedly planning to delay approval of the AstraZeneca-Oxford vaccine, claiming that it hasn’t received enough information to evaluate it properly.

4/EUROPEAN AFFAIRS

EU/CHINA

You think the Bidens are bad?? The European parliamentarians are just as corrupt as they have been bought and paid for by the Chinese. Bass blasts them over their corrupt behaviour in allowing an imminent landmark China investment deal

(zero hedge)

Bass Blasts “Deeply Corrupt” EU Over Imminent Landmark China Investment Deal

 
MONDAY, DEC 28, 2020 – 23:20

In contrast to the EU, the US Congress passed the Uyghur Human Rights Policy Act in June 2019, and on September 22, 2020, the US House of Representatives passed the Uyghur Forced Labor Prevention Act.

As The Gatestone Institute’s Judith Bergman notes, the US has sanctioned at least 28 Chinese officials over their actions in Xinjiang. The list includes senior Chinese Communist Party (CCP) officials, such as current Xinjiang Uyghur Autonomous Region (XUAR) Party Secretary Chen Quanguo, who executes Chinese government policy in the region. He is also the current First Political Commissar of the XPCC, a role in which he has exercised control over the entity. According to the US Department of the Treasury:

“The XPCC is a paramilitary organization in the XUAR that is subordinate to the Chinese Communist Party (CCP). The XPCC enhances internal control over the region by advancing China’s vision of economic development in XUAR that emphasizes subordination to central planning and resource extraction. The XPCC’s structure reflects a military organization, with 14 divisions made up of dozens of regiments… [Chen Quanguo]… has a notorious history of intensifying security operations in the Tibetan Autonomous Region, where he was deployed before arriving in Xinjiang…”

Meanwhile, the European Council, consisting of the heads of state of the EU member states and that is currently presided over by Germany, is unlikely to demand anything from China, let alone sanction it or do anything that might jeopardize its trade with Europe. This year, for the first time, China became the EU’s largest trading partner, surpassing the US.

Crucially, the EU does not want to jeopardize the finalization of the EU-China Comprehensive Agreement on Investment, which the EU and China have sought to realize for seven years now.

And, as The South China Morning Post (SCMP) reportsChina and the EU could complete the deal this week, with the 27 countries in the trade bloc unanimously approving the agreement despite earlier reservations.

An EU diplomat with knowledge of the discussions said that on Monday representatives of the EU member states were briefed by EU negotiators who had “reported on recent positive developments in the negotiations with China including on labour standards”.

The representatives “broadly welcomed the latest progress in the EU-China talks”, the diplomat said.

“After four years of Donald Trump, the EU is sending a very clear message that it will go its own way on China,” said Noah Barkin, an EU-China specialist with Rhodium Group, a research firm.

“This doesn’t doom transatlantic cooperation with Biden, but it shows just how difficult it will be. The big winner if this deal does come together is Beijing.”

Erik Brattberg, director of the Europe programme at the Washington-based Carnegie Endowment for International Peace, said the EU’s “last-minute push” to complete the deal with China “has already raised eyebrows in Washington”, adding:

“It risks undermining the credibility of the EU’s call for a joint transatlantic China strategy with the US even before the new Biden administration settles in.”

The unanimous support from the EU member states came despite France and Poland previously raising reservations about the deal.

Franck Riester, the minister delegate in charge of trade in the French foreign ministry, said last week that if the EU failed to commit to abolishing forced labour “we cannot facilitate investment in China”.

Polish Foreign Minister Zbigniew Rau also warned that Europe would need more consultations and transparency to win over its transatlantic allies.

By moving forward with the deal, Brussels also turned a blind eye to a thinly veiled warning from Jake Sullivan, Biden’s designated national security adviser, who said the Biden administration “would welcome early consultations with our European partners” on the concerns about China’s economic practices.

Outspoken China hawk, and hedge fund billionaire, Kyle Bass summed it up succinctly:

“Europe is so deeply corrupted by Chinese money that this deal was a fait accompli.”

Simply put, the EU is willing to turn a blind eye to any and every action by China against the world in the interests of money flowing into the failing super-state.

If reached, the deal would come hard on the heels of China’s success in creating the Regional Comprehensive Economic Partnership with 14 other Asia-Pacific nations, and the EU’s post-Brexit agreement with Britain.

end

UK

The organizer of London’s anti lockdown protest could be fined 10,000 pounds

(Lily Zhou/Epoch Times)

Organiser Of London Anti-Lockdown Protest Could Be Fined £10,000

 
TUESDAY, DEC 29, 2020 – 3:30

Authored by Lily Zhou via The Epoch Times,

The organiser of an anti-lockdownprotest in London is facing the prospect of a £10,000 ($13,488) fine, the Metropolitan Police said on Monday.

The Met said that officers were called on Sunday afternoon to find about 100 people gathering in Ray Lane, Southwark, in what appeared to be a pre-planned protest.

“This sort of gathering is specifically prohibited under the tier four restrictions brought in following the recent rapid rise in cases,” Acting Inspector David Smith said in a statement.

“We all have a responsibility to follow the rules, stay at home as much as possible, and help stop the rapid spread of COVID-19 in our city,” he added.

“Anyone coordinating intentional breaches on this scale should know they risk very significant financial penalties,” he said.

The Met said that the organiser, a 58-year-old man, will be reported for the consideration of a fixed penalty notice of up to £10,000.

London is currently under tier four restrictions to curb the spread of the CCP (Chinese Communist Party) virus, following the discovery of a new variant of the virus that authorities say is more infectious. Residents have been told to stay at home unless they have a “reasonable excuse” to leave their houses.

Under the Health Protection Regulations 2020, gatherings organised by a business; a charitable, benevolent, or philanthropic institution; a public body; or a political body can take place if the organiser carries out a risk assessment that satisfies regulations and takes all reasonable measures to limit the risk of transmission.

On Dec. 19, the Met arrested 29 protesters after they allegedly refused to cooperate with police.

The Met said on Dec. 20 that the female organizer of one of the protests, which was attended by around 150 people, had been reported for consideration of a £10,000 fixed penalty notice.

Three men, Christmas Fallah, 35, Joss Lillis, 27, and Leon Larose, 28, “have been charged under Health Protection Regulations with participating in a gathering of two or more people. All three men were also charged with assaulting an emergency worker,” the Met said in a statement.

“The majority of the other 26 people arrested were issued with fixed penalty notices for breaching Health Protection Regulations. A number of other people attending the protest were also issued with fixed penalty notices but were not arrested,” the statement reads.

Lockdowns Modelled After Chinese Regime: Former SAGE Adviser

After the Chinese regime started to lock down cities in January, many Western countries adopted similar methods to attempt to control the spread of the virus.

Neil Ferguson, an Imperial College professor who was a government adviser for the Scientific Advisory Group for Emergencies (SAGE) until May, said the government didn’t think it was possible to use lockdowns in the UK in the same way as in China.

“It’s a communist one party state, we said. We couldn’t get away with it in Europe, we thought,” Ferguson told The Times of London last week.

“And then Italy did it. And we realised we could.”

Ferguson said that the data from China showed lockdown was “an effective policy.”

Ferguson quit SAGE in May after he was caught breaking CCP virus restrictions.

By March 11, when the WHO declared COVID-19 a pandemic, Chinese officials reported 3,169 deaths from the CCP virus, but information provided by residents at the epicenter of the virus in Wuhan, China, indicated that the real death toll there could be 12.7 times the official figure.

new book by Canadian scholars said that Ottawa adopted large-scale lockdowns after Ferguson’s report in March predicted tens of millions of deaths worldwide.

But Ferguson’s model has since been found to be greatly flawed, according to the Montreal Economic Institute and others. Research by data scientist and computational epidemiologist Chris von Csefalvay found numerous problems with Ferguson’s modelling, including that it was 13 years old and was written to model an influenza pandemic.

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAN/ISRAEL

Iran vows  massive response if Israel sub crosses into the Gulf

(zerohedge)

Iran Vows “Massive Response” If Israel Crosses ‘Red Lines’ With Sub Presence In Gulf

 
MONDAY, DEC 28, 2020 – 20:40

Just a little over three weeks to go until President-Elect Joe Biden’s inauguration on Jan.20 and tensions in the Persian Gulf are at boiling point given not only the presence of a US nuclear submarine but allegedly a major Israeli presence as well. A week ago Israeli sources confirmed that an Israeli submarine had crossed the Suez Canal visibly above water en route to the Persian Gulf as a clear “message” to the Islamic Republic.

On Monday Iran’s foreign ministry warned that Israel now risks crossing “red lines” should it enter deeply into the Gulf and thus Iran’s own backyard, with ministry spokesman Saeed Khatibzadeh warning that Israel should be “aware of the risks of crossing Iran’s red lines.”

“Everybody knows what the Persian Gulf means to Iran, and what policy Iran pursues about its national interests and security,” Khatibzadeh said according to Tasnim news agency. The build-up in Persian Gulf waters comes after the November assassination of Iran’s top nuclear scientist Mohsen Fakhrizadeh near Tehran in a sophisticated operation widely blamed on Israeli intelligence.

Khatibzadeh added that Iran has sent “messages to the US government and our friends in the region warning the current US regime not to embark on a new adventure in its final days at the White House.”

Separately on Monday a top level Iranian parliament member issued a more directly threatening response to the Israeli sub presence. According to new statements by the Iranian parliament’s National Security and Foreign Policy Committee, Abolfazl Amouei:

Iran will not hesitate to give a “strong and massive” response to any Israeli submarine in the Persian Gulf, a lawmaker says, after the Washington Post  claimed that Tel Aviv was sending one to the strategic waters.

“Israel must know that our response to aggression against our national security will be strong and massive,” Amouei added, speaking on behalf of Iranian lawmakers.

Echoing prior statements of both Iran’s president and the foreign ministry, Amouei alleged that Israel and the outgoing Trump administration were busy looking to provoke a conflict, given the door is closing for such an opportunity as Biden has vowed to immediately restore US participation in the 2015 nuclear deal (JCPOA).

“Israel is looking for excuses to drag the region into a tension that creates chaos in the last days of the Trump presidency,” Amouei said in an interview with Al Jazeera.

However, whether the Israeli sub is currently actually in Gulf waters or even as far as in the Strait of Hormuz remains a different question. Iran’s foreign ministry downplayed this at the same time, calling both recent Israeli and a Washington Post report a “media assumption.”

END

MIDDLE EASTERN AFFAIRS/BIDEN

Biden’s top priorities to adopt a new approach in Washington’s dealings with the middle east is meeting with considerable skepticism

(Coughlin/Gatestone Institute)

Biden Meddles With Donald Trump’s Middle East Legacy At His Peril

 
MONDAY, DEC 28, 2020 – 23:00

Authored by Con Coughlin via The Gatestone Institute,

The incoming Biden administration has indicated that one of its top priorities will be to adopt a new approach in Washington’s dealings with the Middle East. In particular it wants to revive the flawed nuclear deal with Iran as well as re-establish a dialogue with the Palestinian leadership, which imposed a three-year boycott on the Trump administration.

Yet, while the new Biden team, the majority of whom are relics from the Obama administration, are keen to assert a new policy agenda for the region, they also need to take care that, in so doing, they do not squander the impressive legacy US President Donald Trump has built up in the region.

It is worth remembering that, when Mr Trump took office, the region was still reeling from the dire consequences of former US President Barack Obama’s inept and naive handling of the region.

By early January 2017, when Mr Trump took office, Iran was squandering the tens of billions of dollars it received for signing the nuclear deal, which Mr Obama had helped broker in 2015, on expanding its malign influence across the landscape of the Middle East.

This malign influence included supporting the Assad regime in Syria, the Hizbollah terrorist organisation in Lebanon, pro-Iranian Shia militias in Iraq and the Houthi rebels in Yemen, which regularly employed Iranian-made drones and missiles to attack Saudi Arabia, a key US ally.

Attempts to revive the Israeli-Arab peace process, meanwhile, were going nowhere because of the Obama administration’s antagonistic attitude towards Israeli Prime Minister Benjamin Netanyahu, as well as maintaining its hopeless quest for a more constructive relationship with the Palestinian leadership.

In addition, Mr Obama’s ambivalence about becoming involved in Syria’s brutal war meant that US forces were hampered in their attempts to destroy the Islamist fanatics of ISIS, which had succeeded in capturing large swathes of northern Iraq and Syria.

Mr Trump therefore deserves enormous credit for achieving a complete turnaround in America’s standing in the region during his tenure at the White House.

Thanks to Mr Trump’s robust approach to Iran, where he withdrew from the nuclear deal and re-imposed crippling sanctions against Tehran, the Iranian economy has been seriously diminished, thus limiting the ayatollahs’ ability to peddle their pernicious creed throughout the region.

ISIS, and its dream of establishing a self-governing “caliphate”, has been completely destroyed, mainly because, soon after taking office, Mr Trump gave US commanders the authority and freedom to intensify the military campaign against the Islamist fanatics.

Arguably, Mr Trump’s greatest achievement in the Middle East, though, has been the success he has enjoyed in breaking the impasse in the Israeli-Arab peace process, with a clutch of Arab regimes – the United Arab Emirates, Bahrain, Sudan and Morocco — establishing diplomatic relations with Israel under the so-called Abraham Accords, with many other Arab governments — including Saudi Arabia — said to be giving serious consideration to following suit.

Mr Trump’s Middle East legacy is not only impressive — it has completely redefined the landscape of the region from the chaos and conflict that prevailed when Mr Obama left office. Nowadays, the momentum in the region is moving towards peace, not conflict, as was so often the case during Mr Obama’s presidency.

So the challenge for the incoming Biden administration now will be to see how it can pursue a different foreign policy agenda without jeopardising the very significant achievements that have been accomplished during Mr Trump’s tenure.

Certainly, if the incoming Biden administration makes any serious attempt to undermine Mr Trump’s legacy in the Middle East, it will do so at its peril.

end

TURKEY/MIDDLE EAST/RUSSIA

The good commentary on how Turkey is pivoting to profit from their alliance with Iran and otheers in the region

(Escobar)

Escobar: Turkey Pivots To The Center Of The New Great Game

 
TUESDAY, DEC 29, 2020 – 2:00

Authored by Pepe Escobar via The Asia Times,

When it comes to sowing – and profiting – from division, Erdogan’s Turkey is quite the superstar.

Under the delightfully named Countering America’s Adversaries Through Sanctions Act (CAATSA), the Trump administration duly slapped sanctions on Ankara for daring to buy Russian S-400 surface-to-air missile defence systemsThe sanctions focused on Turkey’s defence procurement agency, the SSB.

Turkish Foreign Minister Mevlut Cavusoglu’s response was swift: Ankara won’t back down – and it is in fact mulling how to respond.

The European poodles inevitably had to provide the follow-up. So after the proverbial, interminable debate in Brussels, they settled for “limited” sanctions – adding a further list for a summit in March 2021. Yet these sanctions actually focus on as-yet unidentified individuals involved in offshore drilling in Cyprus and Greece. They have nothing to do with S-400s.

What the EU has come up with is in fact a very ambitious, global human-rights sanctions regime modeled after the US’s Magnitsky Act. That implies travel bans and asset freezes of people unilaterally considered responsible for genocide, torture, extrajudicial killings and crimes against humanity.

Turkey, in this case, is just a guinea pig. The EU always hesitates mightily when it comes to sanctioning a NATO member. What the Eurocrats in Brussels really want is an extra, powerful tool to harass mostly China and Russia.

Our jihadis, sorry, “moderate rebels”

What’s fascinating is that Ankara under Erdogan always seems to be exhibiting a sort of “devil may care” attitude.

Take the seemingly insoluble situation in the Idlib cauldron in northwest Syria. Jabhat al-Nusra – a.k.a. al-Qaeda in Syria – honchos are now involved in “secret” negotiations with Turkish-backed armed gangs, such as Ahrar al-Sharqiya, right in front of Turkish officials. The objective: to boost the number of jihadis concentrated in certain key areas. The bottom line: a large number of these will come from Jabhat al-Nusra.

So Ankara for all practical purposes remains fully behind hardcore jihadis in northwest Syria – disguised under the “innocent” brand Hayat Tahrir al-Sham. Ankara has absolutely no interest in letting these people disappear. Moscow, of course, is fully aware of these shenanigans, but wily Kremlin and Defence Ministry strategists prefer to let it roll for the time being, assuming the Astana process shared by Russia, Iran and Turkey can be somewhat fruitful.

Erdogan, at the same time, masterfully plays the impression that he’s totally involved in pivoting towards Moscow. He’s effusive that “his Russian colleague Vladimir Putin” supports the idea – initially tabled by Azerbaijan – of a regional security platform uniting Russia, Turkey, Iran, Azerbaijan, Georgia and Armenia. Erdogan even said that if Yerevan is part of this mechanism, “a new page may be opened” in so far intractable Turkey-Armenia relations.

It will help, of course, that even under Putin pre-eminence, Erdogan will have a very important seat at the table of this putative security organization.

The Big Picture is even more fascinating – because it lays out various aspects of Putin’s Eurasia balancing strategy, which involves as main players Russia, China, Iran, Turkey and Pakistan.

On the eve of the first anniversary of the assassination of Gen Soleimani, Tehran is far from cowed and “isolated”. For all practical purposes, it is slowly but surely forcing the US out of Iraq. Iran’s diplomatic and military links to Iraq, Syria and Lebanon remain solid.

And with less US troops in Afghanistan, the fact is Iran for the first time since the “axis of evil” era will be less surrounded by the Pentagon. Both Russia and China – the key nodes of Eurasia integration – fully approve it.

Of course the Iranian rial has collapsed against the US dollar, and oil income has fallen from over $100 billion a year to something like $7 billion. But non-oil exports are going well over $30 billion a year.

All is about to change for the better. Iran is building an ultra-strategic pipeline from the eastern part of the Persian Gulf to the port of Jask in the Gulf of Oman – bypassing the Strait of Hormuz, and ready to export up to 1 million barrels of oil a day. China will be the top customer.

President Rouhani said the pipeline will be ready by the summer of 2021, adding that Iran plans to be selling over 2.3 million barrels of oil a day next year – with or without US sanctions alleviated by Biden-Harris.

Watch the Golden Ring

Iran is well linked to Turkey to the west and Central Asia to the east. An extra important element in the chessboard is the entrance of freight trains directly linking Turkey to China via Central Asia -bypassing Russia.

Earlier this month, the first freight train left Istanbul for a 8,693 km, 12-day trip, crossing below the Bosphorus via the brand new Marmary tunnel, inaugurated a year ago, then along the East-West Middle Corridor via the Baku-Tbilisi-Kars (BTK) railway, across Georgia, Azerbaijan and Kazakhstan.

In Turkey this is known as the Silk Railway. It was the BTK that reduced freight transport from Turkey to China from one month to only 12 days. The whole route from East Asia to Western Europe can now be travelled in only 18 days. BTK is the key node of the so-called Middle Corridor from Beijing to London and the Iron Silk Road from Kazakhstan to Turkey.

All of the above totally fits the EU’s agenda – especially Germany’s: implementing a strategic trade corridor linking the EU to China, bypassing Russia.

This would eventually lead to one of the key alliances to be consolidated in the Raging Twenties: Berlin-Beijing.

To speed up this putative alliance, the talk in Brussels is that Eurocrats would profit from Turkmen nationalism, pan-Turkism and the recent entente cordiale between Erdogan and Xi when it comes to the Uighurs. But there’s a problem: many a turcophone tribe prefers an alliance with Russia.

Moreover, Russia is inescapable when it comes to other corridors. Take, for instance, a flow of Japanese goods going to Vladivostok and then via the Trans-Siberian to Moscow and onwards to the EU.

The bypass-Russia EU strategy was not exactly a hit in Armenia-Azerbaijan: what we had was a relative Turkey retreat and a de facto Russian victory, with Moscow reinforcing its military position in the Caucasus.

Enter an even more interesting gambit: the Azerbaijan-Pakistan strategic partnership, now on overdrive in trade, defence, energy, science and technology, and agriculture. Islamabad, incidentally, supported Baku on Nagorno-Karabakh.

Both Azerbaijan and Pakistan have very good relations with Turkey: a matter of very complex, interlocking Turk-Persian cultural heritage.

And they may get even closer, with the International North-South Transportation Corridor (INTSC) increasingly connecting not only Islamabad to Baku but also both to Moscow.

Thus the extra dimension of the new security mechanism proposed by Baku uniting Russia, Turkey, Iran, Azerbaijan, Georgia and Armenia: all the Top Four here want closer ties with Pakistan.

Analyst Andrew Korybko has neatly dubbed it the “Golden Ring” – a new dimension to Central Eurasian integration featuring Russia, China, Iran, Pakistan, Turkey, Azerbaijan and the central Asian “stans”. So this all goes way beyond a possible Triple Entente: Berlin-Ankara-Beijing.

What’s certain as it stands is that the all-important Berlin-Moscow relationship is bound to remain as cold as ice. Norwegian analyst Glenn Diesen summed it all up: “The German-Russian partnership for Greater Europe was replaced with the Chinese-Russian partnership for Greater Eurasia”.

What’s also certain is that Erdogan, a master of pivoting, will find ways to simultaneously profit from both Germany and Russia.

END

6.Global Issues

Israel man dies after receiving Moderna’s vaccine

(zerohedge)

Israeli Man Dies After Receiving COVID Vaccine As 5K+ “Health Impact Events” Reported In US

 
MONDAY, DEC 28, 2020 – 17:20

Following a handful of reports, including one involving a priest from the Philadelphia area who volunteered as a trial participant, about patients who received a vaccine dying in the weeks following the second dose, one man in Israel has died 2 hours after receiving the vaccine.

According to reports in the Israeli press, a 75 year old man from Beit Shean died Monday morning from a hear attack about 2 hours after receiving the vaccine.

The patient has received the vaccine at 0830 in the morning, then waited for the customary time at the health clinic before he was released to his home after reportedly feeling well. Some time after that, the man lost consciousness, then was pronounced dead.

The Israeli Health Ministry released a statement on the death: “A 75-year-old man from the north of the country suffering from active heart disease and malignant disease, who has undergone a number of heart attacks, was vaccinated this morning against the coronavirus and died at home shortly after the procedure.”

An investigation into the man’s death has been ordered by the Director General of the Ministry of Health, Prof. Hezi Levy, who has appointed a case investigation committee to be led by the head of the MoH’s Safety and Quality Division.

News of the man’s death follows reports that 5K out of the first 215K recipients of the vaccine in the US reported some kind of “adverse health impact event”, which could be anything that seriously limits an individual’s ability to function and/or complete daily tasks. These events should be severe enough to require medical attention, but exact details are unclear.

end
 

7. OIL ISSUES

end

8 EMERGING MARKET ISSUES

 

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

Euro/USA 1.2258 UP .0039 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /GREEN

USA/JAPAN YEN 103.67 DOWN 0.0130 (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 1.3490   UP   0.0025  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2816 DOWN .0026 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  FRIDAY morning in Europe, the Euro ROSE BY 39 basis points, trading now ABOVE the important 1.08 level RISING to 1.2258 Last night Shanghai COMPOSITE DOWN 18.25 PTS OR .54%

//Hang Sang CLOSED UP 253.86 PTS OR .96% 

/AUSTRALIA CLOSED UP 0,64%// EUROPEAN BOURSES ALL GREEN

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 253,86 PTS OR .96% 

/SHANGHAI CLOSED DOWN 18.25 PTS OR .54% 

Australia BOURSE CLOSED UP 0.64% 

Nikkei (Japan) CLOSED UP 714.12  POINTS OR 2.66%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1877.95

silver:$26.16-

Early TUESDAY morning USA 10 year bond yield: 0.946% !!! UP 2 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.691 UP 3  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 90.02 DOWN 32 CENT(S) from  MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  TUESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.03% DOWN 1 in basis point(s) yield from YESTERDAY/

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

SPANISH 10 YR BOND YIELD: 0.05%//DOWN 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.56 DOWN 1 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 51 points higher than Spain.

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

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.14% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.2251  UP     .0031 or 31 basis points

USA/Japan: 103.48 DOWN .205 OR YEN UP 21  basis points/

Great Britain/USA 1.3515 UP .0051 POUND UP 51  BASIS POINTS)

Canadian dollar UP 46 basis points to 1.2797

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The USA/Yuan,  CNY: closed UP AT 6.5309    ON SHORE  (UP)..GETTING DANGEROUS

THE USA/YUAN OFFSHORE:  6.5175  (YUAN up)..GETTING REALLY DANGEROUS

TURKISH LIRA:  7.393  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.03%

Your closing 10 yr US bond yield UP 1 IN basis points from MONDAY at 0.932 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.676 UP 1 in basis points on the day

Your closing USA dollar index, 89/99 down 35  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 100.54  1.55%

German Dax :  CLOSED DOWN 28.91 POINTS OR .21%

Paris Cac CLOSED UP 23.41 POINTS 0.42%

Spain IBEX CLOSED UP 19.20 POINTS or 0.24%

Italian MIB: CLOSED DOWN 29.17 POINTS OR 0.13%

WTI Oil price; 48.14 12:00  PM  EST

Brent Oil: 51.24 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    73.93  THE CROSS HIGHER BY 0.13 RUBLES/DOLLAR (RUBLE LOWER BY 13 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.58 FOR THE 10 YR BOND 1.00 PM EST EST

END

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

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

WTI CRUDE OILPRICE 4:30 PM :  47.99//

BRENT :  51.03

USA 10 YR BOND YIELD: … 0.9340..up 1 basis points…

USA 30 YR BOND YIELD: 1.671 up 1 basis points..

EURO/USA 1.2251 ( UP 32   BASIS POINTS)

USA/JAPANESE YEN:103.53 DOWN .163 (YEN UP 16 BASIS POINTS/..

USA DOLLAR INDEX: 90.01 DOWN 33 cent(s)/

The British pound at 1.3500   Britain Pound/USA:1.3500 UP 34  POINTS

the Turkish lira close: 7.39

the Russian rouble 73.94   DOWN 0.16 Roubles against the uSA dollar. (DOWN 16 BASIS POINTS)

Canadian dollar:  1.2815 UP 28 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.58%

The Dow closed DOWN 68.30 POINTS OR 0.22%

NASDAQ closed DOWN 49.20 POINTS OR 0.38%


VOLATILITY INDEX:  23.21 CLOSED UP 1.51

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

USA trading today in Graph Form

Russell Routed As ‘Most Shorted’ Stocks Suffer Biggest Puke In 6 Months

 
TUESDAY, DEC 29, 2020 – 16:02

Small Cap stocks were clubbed like a baby seal today with the deluge of selling pressure starting the second the cash market opened. Nasdaq 100 futs desperately scrambled to stay green…

Of course, Small Caps had the most to lose after an exorbitant rise this month so this could be related to rebalancing flows…

Source: Bloomberg

But one thing it definitely did, was crash the relative gains against Big Tech…

It would appear the recent surge in the Russell hit longer-term resistance…

Source: Bloomberg

And the last two days have been the biggest plunge in “most shorted” stocks since June

Source: Bloomberg

Is the market “stuffed” too full of central-bank liquidity?

“Too stuffed”?

Value and Growth fell today but Value stocks are worst on the week…

Source: Bloomberg

Industrials and Energy stocks were the laggards today with Healthcare outperforming…

Source: Bloomberg

Treasuries were very modestly offered today with long-end yields up only 1bps (NOTE: again we saw overnight weakness and a bid during the US day)…

Source: Bloomberg

Real yields continue to slide, signaling gains ahead for gold…

Source: Bloomberg

The dollar slipped lower on the day, back near its lowest close since April 2018…

Source: Bloomberg

Cryptos were flat today, apart from Ripple that was monkeyhammered as Coinbase said it would remove the SEC-Suit-facing asset…

Source: Bloomberg

Gold managed very modest gains despite the dollar weakness…

WTI held on to gains to close around $48 ahead of tonight’s API inventory data…

Finally, with moar and moar and moar stimulus handouts expected…

Bitcoin and Gold have already signaled where the dollar is going

Source: Bloomberg

And investors are positioning for it. As Bloomberg notes, speculative traders are ending the year betting heavily against the dollar. Net short non-commercial positions in futures linked to the ICE U.S. Dollar Index have surged to the most since March 2011, according to the latest Commodity Futures Trading Commission data.

Source: Bloomberg

And, in case you wanted another sign of the top…

  • *QUEEN’S GAMBIT GROWTH CAPITAL SEEKS TO RAISE $225M IN SPAC IPO

You’re welcome… and trade accordingly!

a)Market trading/THIS MORNING/USA

Small Caps Puke At Cash Open, Erase Gains Vs Big Tech

 
TUESDAY, DEC 29, 2020 – 9:42

The cash market open in the US triggered a wave of selling in small caps (just like yesterday) and a bid for Nasdaq/Big-Tech (just like yesterday)…

The last two days have seen Small Caps give up all their relative gains to big-tech stocks since 12/21…

Regime change?

Maybe, but Small Caps have a long way to go to catch down to the rest of the market for December..

Which makes us wonder, is this year-end rebalancing?

 

b)MARKET TRADING/USA//Non farm payrolls

 
 

ii)Market data/USA

US Home Prices Accelerate At Fastest Pace Since 2014

 
TUESDAY, DEC 29, 2020 – 9:05

Despite headlines proclaiming there’s no inflation to worry about, Case-Shiller Home Prices were expected to accelerate even stronger in October (the latest data released today) and they did. The 20-City Composite screamed 7.95% higher YoY (smashing expectations of a 6.95% rise)

Source: Bloomberg

That’s the fastest rate of acceleration since June 2014. Home prices rose 1.6% from the previous month, also more than projected and the most since April 2013.

Additionally, a gauge of home prices nationwide increased 8.4% from a year earlier, the most since March 2014.

All cities posted year-over-year home-price gains (all above 6%), led by Phoenix, Seattle and San Diego. Data for Detroit were excluded because of pandemic-related reporting delays.

What’s most interesting is the massive decoupling between homebuyer sentiment and homebuilder sentiment and home prices.

Source: Bloomberg

Just like we saw in 2017, the decoupling of prices from sentiment is not infrequent; but just as we saw in 2018… it always ends badly for prices.

end

Home Prices Soar At 3 Times The Fed’s Inflation Target Across All US Cities

 
TUESDAY, DEC 29, 2020 – 13:00

The Fed’s most frequent lament is that no matter how many trillions in bonds (and stocks and ETFs) it buys or how much liquidity it forehoses into the market, it just can’t push broader inflation higher.

Well, here’s an idea: maybe all the central-planning megabrains at the Marriner Eccles building and 33 Liberty Street can take a break from whatever circle jerk they are engaged in right now, and look at the latest Case Shiller numbers which showed not only that home prices surged at the fastest pace in six years, rising nearly 8% compared to a year ago…

… but that for the first time since the financial crisis, the annual price increase in every major US MSA (and according to Case Shiller there are 20 of them) rose by at least 6% Y/Y (in the case of New York) and as much as 12.7% in Phoenix, meaning that the average home prices across all of the US is now rising at three times the Fed’s own inflation target.

Why does this matter? Simple: Because if – as Joseph Carson mused last month – CPI measured actual house prices, inflation would be above 3% right now.

For those who missed it, here again is the explanation:

“Actual” consumer price inflation is rising during the recession. That runs counter to the normal recessionary pattern when the combination of weak demand and excess capacity works to lessen inflationary pressures.

The main source of faster consumer price inflation is centered in the housing market. The Case-Shiller Home Price Index posted a 7% increase the last year, more than twice the gain of one-year ago.

The sharp acceleration in house price inflation represents the fastest increase since 2014 and runs counter to the patterns of the past two recessions. During the 2001 recession house price inflation slowed by one-third, while in the Great Financial Recession housing prices posted their largest decline in the post-war period, falling over 12% nationwide.

The consumer price index (CPI) does not show in house price inflation because it uses a non-market rent index to capture the trends in housing inflation. The Bureau of Labor Statistics (BLS) estimates that the non-market rent index has increased 2.5% in the past 12 months, or 450 basis points below the rise in house prices.

If actual house prices were used in place of rents core CPI would have registered a 3% gain in the past year, nearly twice the reported gain of 1.6%.

If aggregate price measures did not exist house prices would be one of the most important measures to gauge inflation and the proper setting of official interest rates. That’s because house price cycles include easy credit/financial conditions, excess demand, and inflation expectations, three key ingredients of inflation cycles.

Rising consumer price inflation is added to the list of unique features of the 2020 recession. Others include an increase in corporate debt levels instead of debt-liquidation and rising equity prices instead of share price declines.

If the 2020 recession has economic and financial features that normally appear during economic recovery what does that imply for the next growth cycle? The debt overhang at the corporate and federal debt should impede the next growth cycle. And if the cyclical rise in housing demand is occurring in recession it can’t be repeated during recovery.

The next economic cycle will be filled with unique tipping points, and no one should assume that policymakers can control or offset them.

end

iii) Important USA Economic Stories

ELECTION COMMENTARIES
 
NO 1
 
NASHVILLE BOMBING//THE TRUE STORY
 

Situation Update, Dec. 28th – Orbital weapons platforms reveal Trump is in a WAR much bigger than any election

 

It is now increasingly clear that the explosion in Nashville was not caused by an RV bomb, nor a conventional missile but rather a “Directed Energy Weapon.”

The evidence for this includes:

  • Former Defense Secretary Mark Esper warning in September that China possessed “killer satellites” and “directed energy weapons” that could threaten the United States.
  • The apparent missile “trail” in the skyline video of Nashville, which is also consistent with a stream of ionized atmosphere and particular matter suspended in the air. (High-powered lasers can transform molecules into plasma.)
  • The large blue “plasma flash” observed on a street-level video camera, an instant before the kinetic explosion. This blue plasma light is consistent with the use of an extremely high-powered, high-altitude laser system that instantly transforms solid matter into its plasma state. This same technology has been used in pilot programs to transform landfill waste into simple elements such as carbon. This process is called “plasma torch gasification” and is considered a “green” technology to eliminate landfill by transforming matter into carbon.
  • Interestingly, this “plasma torch gasification” process, which can also be created by an extremely powerful laser burst, releases huge amounts of hydrogen gas, which is itself explosive in a conventional (chemical) sense. What an observer would see is first a bright blue plasma light, followed by a yellow fireball, followed by black carbon dust all over the ground, and this is what we observe in Nashville.
  • The fact that no explosion crater appeared on the street under the RV, but rather a layer of charred carbon, which is consistent with the aftermath of a plasma state caused by an energy weapon (most likely a laser used for ablation of samples in the laboratory, which would typically be a laser in the 198nm range, or what is called “Deep-UV”. Some ablation lasers also use 266nm.)
  • The US State Dept. has warned that Russia is already testing an anti-satellite missile, which is part of Russia’s defense against the orbital laser weapons possessed by China and the United States.
END
 
no 2  a)
 
 
This is a big blow to Joe Biden and confirms total Biden family corruption
 
 
Ukraine confirms Biden corruption
 
(rumormill.news)

Ukraine confirms Biden Corruption in Press Conference

Posted By: AndiV
Date: Monday, 28-Dec-2020 14:42:13
http://www.rumormill.news/161763

Replying to

 

and

BREAKING
 
Ukraine confirms Biden Corruption in Press Conference released Dec 25, 2020. Over 1 hour long and with bank records and witness.
 
 
Booooom
 
Ukraine official press conference Biden family  to jail?
Ukraine press conference, Bidens $50.000.000 bribe..
youtube.com

end

2 b) New video links Biden family to Ukrainian corruption. A Burisma Indictment reveals that ex President Yanukovich illegally obtained $7.4 billlion laundered through a fundd with kickbacks to the USA democratic party

(Gateway Pundit)

New Video Links Biden to Ukrainian Corruption – Burisma Indictment Reveals Ex-President Yanukovich Illegally Obtained $7.4 Billion Laundered Thru Fund “Close to US Democratic Party”

Hunter Biden: board member of Burisma from April 2014 to April 2019

As we reported at the time the head of Burisma Holdings was indicted in November 2019 in Ukraine.

Ukrainian Prosecutor General indicted Burisma owner Nikolai Zlochevsky.

The claim alleges that Hunter Biden and his partners received $16.5 million for their ‘services’

TRENDING: EXCLUSIVE: Senator Kelly Loeffler to Gateway Pundit: On Jan. 6, “Nothing is Off the Table” (VIDEO)

Vice President Joe Biden’s son Hunter Biden took a lucrative post on the Burisma Board in 2014.
Hunter Biden was making millions from the corrupt Ukrainian oil and gas company.

Memos released earlier this month reveal Burisma Holdings, Hunter Biden’s Ukrainian natural gas company, pressured the Obama State Department to help end the corruption investigation during the 2016 election cycle just one month before then-Vice President Joe Biden forced Ukraine to fire Viktor Shokin, the prosecutor probing his son Hunter.

Joe Biden bragged about getting Viktor Shokin fired during a 2018 speech to the Council on Foreign Relations.

The Burisma indictment reveals that former Ukrainian President Yanukovich illegally obtained $17.4 billion and laundered it through an investment fund close to the US Democratic Party.

Via Tass.com:

The MP explained that this information makes up a part of a large-scale scheme of Zlochevsky’s money laundering that involved politicians from the time of ex-President Viktor Yanukovich who continued this scheme under another (now former) President Pyotr Poroshenko, with the backing of former Governor of the National Bank of Ukraine Valeria Gontareva.

“We will reveal the information about the financial pyramid scheme that was created in Ukraine and developed by everyone beginning with Yanukovich and later by Poroshenko. This system is still working under the guidance of the current managerial board of the National Bank, ensuring that money flows in the interest of people who stole millions of dollars, took it offshore and bought Ukrainian public bonds turning them into the Ukrainian sovereign debt,” Dubinksy claimed. He then added that “in both cases of Yanukovich and Poroshenko, Ms. Gontareva and companies she controls were investing the stolen funds.”

Another Verkhovna Rada MP, Andrei Derkach, claimed that the US Franklin Templeton Investments management company was also involved in the scheme. “The investigation suggests that the Yanukovichs illegally obtained $7.4 billion and laundered it through an investment fund close to the US Democratic Party as government domestic loan bonds,” he pointed out.

More here at Interfax.

The lawmakers posted video of their announcement back in 2019.

This weekend a new video with Ukrainian politician Andrii Derkach revealed more evidence of the Biden family making millions off of the Ukrainian people.

This video is going viral today.

(VIDEO IS SAME AS ABOVE)

 

 end
 
2 c
 
From Robert to me:
 
In their brief they released all the documents that the Democrats asked them not to release.
One must assume every one of importance has these now and all foreign agencies have this.
Effectively everyone knows the Biden money trail which makes his ability to conduct foreign policy mute.
There is no way with the Burisma scandal and Biden’s public admissions of threats of withdrawal of funding to gain the firing of a prosecutor to stop investigation can he have any credibility with anyone

 

https://youtu.be/hKDXVo-OKeQ

 
 
 
 
Attachments area
 
Preview YouTube video UKRAINE RELEASES BOMBSHELL INFORMATION ON BIDEN TODAY! MIRROR THIS ASAP

 

 
 

end

2 D)  Going viral…

(COURTESY ANDREA WIDBURG/AMERICAN THINKER.COM)

Ukraine Press Conference Explicitly Ties Hunter & Joe Biden To Corruption

 
TUESDAY, DEC 29, 2020 – 9:55

Authored by Andrea Widburg via AmericanThinker.com,

A video from a press conference in Ukraine is going viral. It is the follow-up to a video press conference that Ukraine released over a year ago, in which Members of the Ukraine Parliament demanded that President Zelensky and President Trump investigate billions of dollars of corruption in Ukraine that is tied to the U.S. The newly released video is meant to provide documentary and eyewitness information about the corruption – and the Biden family figures prominently in the story.

The video is long – over an hour – and not all of it involves the Biden family. This post quotes those portions of the press conference that address Biden family corruption. The gist of it is that, while Democrats obsess about Trump’s purported criminality, despite the absence of any evidence, their chosen standard-bearer is extraordinarily corrupt.

Indeed, I would argue that Biden is one of the most corrupt politicians ever in America. In the past, corrupt politicians have confined themselves to playing dirty in their own back yard, making money from deals with fellow Americans.

I believe that Biden is the first person ever to serve in the highest reaches of government – the Senate and the Vice Presidency – who sold his country out to the highest foreign bidders. It’s an insult to everything America has stood for since its inception that massive election fraud might allow this person to set foot in the oval office.

With that intro, here’s the video, followed by quotations from the video regarding Joe and Hunter Biden. I recommend Nabu Leaks for more information, enlarged pictures of the relevant documents naming the Bidens, audios of phone calls between Biden and former President Poroshenko after Trump won the election, and the full transcript of the press conference.

From the introduction:

At one of the first press conferences about a year ago, we showed bank transactions for hundreds of thousands of dollars to the family of former US Vice President Joe Biden, namely to his son Robert Hunter Biden. The latter was a member of the board of directors of the infamous gas production company Burisma.

Burisma belongs to the fugitive Yanukovych-era minister Mykola Zlochevsky.

The inclusion of Biden in the Burisma leadership and payment for his services is nothing more than a political cover that protected Zlochevsky from the Ukrainian law, namely from the criminal code.

Two foreign witnesses whose identities are protected – Witness 1 and Witness 2 – came forward to testify about the facts of the case. Konstantyn Kulyk, the Head of the Group of Prosecutors of the Prosecutor General’s Office of Ukraine, explained what the witnesses offered:

One quote from a statement by a Witness:

All the described financial transactions were fictitious. And a lot of money was paid in Ukraine so that the state authorities turned a blind eye to it.”

[snip]

In the period from November 2014 to October 2015, the Witnesses noticed strange recurring payments that, at the direction of Oleh Nelin (Zlochevsky’s assistant in the Verkhovna Rada of Ukraine), were sent from the account of BURISMA HOLDINGS LTD, which was opened for the personal needs of Mykola Zlochevsky, in the Latvian PrivatBank AS to the account of the American company ROSEMONT SENECA BONAI LLC.

The witnesses drew attention to these payments since about 20 times the same uneven amount was recurring – $83,333.33 as payment for consulting services.

[snip]

In the period from November 2014 to October 2015, the money stolen from Ukrainians, located on account of BURISMA HOLDINGS LTD with the Latvian PrivatBank AS, was transferred to the account of ROSEMONT SENECA BONAI LLC in the American bank MORGAN STANLEY in payments in total amounting to $3.4 million for consulting services.

[snip]

This is a payment for the political “cover” that Biden provided to Zlochevsky.

The video offers a graphic image showing the flow of money and favors:

Andrii Derkach picked up the narrative. He focused on Joe Biden’s conversations with Former President Poroshenko when Viktor Shokin, a prosecutor, started looking into Zlochevsky’s graft. As we all know, Biden openly boasted about holding up money from the U.S. unless Poroshenko fired Shokin.

The press conference included audio from a November 16, 2016 conversation between Biden and Poroshenko. Biden was wheeling and dealing for influence and money – and conducting foreign policy behind Trump’s back. The men spoke again in February 2017, at which time Biden smothered Poroshenko with fulsome compliments.

Ukraine’s government is gunning for Joe Biden. The Ukrainians know Biden helped prop up a corrupt government in their country and that he profited mightily from doing so. No wonder this video has gone viral.

end

No.3

Just what on earth was a Nevada Secretary thinking: she sends a voter data list to a Pakistani from linked to ISI? (ISI = Intelligence Pakistan)

(zerohedge)

Evidence of Foreign Influence in 2020 Election: Nevada Secretary of State Caught Sending Voter Data List to Pakistani Firm Linked to ISI

This is just stunning!

Catherine Engelbrecht is the Founder and President of True The Vote the nation’s largest voters’ rights group.

The organization for over ten years now has been on the front lines of election fraud prevention by building action-oriented election integrity movements in key states, counties, and precincts. ‘True the Vote’ does not advocate for particular parties or candidates only for fair elections at all levels.

In November True the Vote wrote the Nevada Secretary of State for the eligible voter list report.

When the Secretary of State responded True the Vote was shocked to see that waqas@kavtech.net was cc’ed.

TRENDING: Woman Has Courage to Say What Millions of Americans Are Thinking “I’m Done” With this COVID Insanity

Breitbart.com wrote about this earlier in the month.

 According to Creative Destruction Media:

Kavtech is a private Pakistani-based business intelligence firm with close ties to the Pakistani intelligence service, the ISI.

The Co-Founder Waqas Butt is cc’d on emails containing personally identifiable voter information from the Nevada Secretary of State.

True the Vote later wrote the Assistant Attorney General for National Security John C. Demers about the date breach. The letter obtained exclusively by Breitbart News that when the email arrived, “I was shocked to see the inclusion of another email address in the CC line.”

At least one employee at Kavtech is a strong supporter of the Pakistani ISI intelligence.

Patrick Byrne tweeted this out earlier today.

We reached out to True the Vote this morning and they told us their attorneys are advising them not to comment on this incident at this time.

The DOJ has this information.

end

Re: the Nashville Bombing:

https://m.facebook.com/story.php?story_fbid=10160488573933957&id=697248956&sfnsn=scwspmo

END

No 4

We brought this to your attention yesterday but it is worth repeating.  Louis Gohmert is now suing Pence,. It is basically the Electoral Count Act of 1877 against the 12th Amendment of the Constitution. Fitton lays out the case brilliantly.

a  must read..

Tom Fitton Brilliantly Defends Rep. Gohmert in His Lawsuit Against VP Mike Pence to Resolve Election Results (VIDEO)

Rep. Louie Gohmert on Sunday became the latest Republican to file a lawsuit attempting to restore the legitimate election victory to President Donald Trump — this time by suing Vice President Mike Pence.

CNBC reported: The suit asks federal Judge Jeremy Kernodle, a Trump appointee in eastern Texas, to declare that Pence has the “exclusive authority and sole discretion” to decide which electoral votes from a given state should be counted.

Tom Fitton and Gregg Jarrett discussed the lawsuit Monday on Lou Dobbs.

Tom Fitton was outstanding.

TRENDING: EXCLUSIVE: Senator Kelly Loeffler to Gateway Pundit: On Jan. 6, “Nothing is Off the Table” (VIDEO)

Congressman Louie Gohmert (TX-01) released the following statement regarding the lawsuit filed against the Vice President:

The 2020 presidential election was one we’d expect to see in a banana republic, not the United States of America. In fact, the rampant fraud and unconstitutional actions that took place were so egregious that seven contested states– Arizona, Georgia, Michigan, New Mexico, Nevada, Pennsylvania, and Wisconsin all sent dueling slates of electors to Congress. This puts Vice President Mike Pence in a position where some argue he has to choose between morality and the law. That is not the case.

It is also critical to note that as many formerly in the mainstream media, now the Alt-Left media, continue to say that every court has said there is no evidence of fraud. That is disingenuous, deceitful, and flat out dishonest. The truth is that no court so far has had the morality and courage to allow evidence of fraud to be introduced in front of it.

“We continue to hold out hope that there is a federal judge who understands that the fraud that stole this election will mean the end of our republic, and this suit would insure that the Vice-President will only accept electors legitimately and legally elected. There must be an opportunity for a day in court when fraud was this prevalent.

“It is for this reason that I and other plaintiffs have filed a complaint for expedited declaratory and emergency injunctive relief to seek judgement from the court on the Vice President’s authority when presiding over the Senate during the Joint Session of Congress. We are asking the court to uphold the powers laid out in the United States Constitution which grant the Vice President the exclusive authority and sole discretion in determining which electoral votes to count. As outlined in the filing, the Electoral Count Act (1877) is unconstitutional because it directs Vice President Pence to legitimize electoral votes in violation of the Electors Clause and limits or eliminates his Twelfth Amendment authority to determine which slates of electors should be counted and which, if any, may not be counted. This is fundamental because no statute can constitutionally supply rules to the extent that such statute violates the U.S. Constitution.

Thanks to spineless politicians, corrupt state officials and a coordinated effort to undermine the will of the American people in favor of business as usual in the D.C. swamp, we now find ourselves in a place where a stolen election becomes just another one of the miscarriages of justice this town refuses to remedy. The D.C. elites want to sweep these electoral injustices under the rug, just as they have done with countless other scandals such as the Russia-collusion hoax, the Biden-Ukrainian quid-pro quo, and Hillary Clinton’s mishandling of classified information, to mention only a few. For the sake of the future of our Republic, come January 6th, Vice President Pence must be authorized to uphold the legal votes of millions of Americans and preserve our nation’s great experiment in self-governance.

end

No 6

What a mess!! Now we find that after Pennsylvania certified results for the Presidency they find a huge error:

that the total number of votes exceeded voters by over 200,000

(zerohedge)

BREAKING: Pennsylvania Certified Results for President Are Found in Error – The Error Is Twice the Size of the Difference Between Candidates

PShare

 

 

After nearly two months, the state of Pennsylvania is found to have certified votes that are in error.

The Pennsylvania House has just uncovered that the certified results in Pennsylvania for President are in error by more than 200,000 votes. This is more than twice the difference between President Trump and Joe Biden.

TRENDING: EXCLUSIVE: Senator Kelly Loeffler to Gateway Pundit: On Jan. 6, “Nothing is Off the Table” (VIDEO)

What a mess.  Republican State Representative Russ Diamond uncovered and reported today that the results for President are way off in Pennsylvania.  More ballots were cast than people voted by more than 200,000 votes.

The group of Republican Representatives released this message:

HARRISBURG – A group of state lawmakers performing extensive analysis of election data today revealed troubling discrepancies between the numbers of total votes counted and total number of voters who voted in the 2020 General Election, and as a result are questioning how the results of the presidential election could possibly have been certified by Secretary of the Commonwealth Kathy Boockvar and Governor Tom Wolf. These findings are in addition to prior concerns regarding actions by the Supreme Court of Pennsylvania, the Secretary, and others impacting the conduct of the election.

A comparison of official county election results to the total number of voters who voted on November 3, 2020 as recorded by the Department of State shows that 6,962,607 total ballots were reported as being cast, while DoS/SURE system records indicate that only 6,760,230 total voters actually voted. Among the 6,962,607 total ballots cast, 6,931,060 total votes were counted in the presidential race, including all three candidates on the ballot and write-in candidates.

The difference of 202,377 more votes cast than voters voting, together with the 31,547 over- and under-votes in the presidential race, adds up to an alarming discrepancy of 170,830 votes, which is more than twice the reported statewide difference between the two major candidates for President of the United States. On November 24, 2020, Boockvar certified election results, and Wolf issued a certificate of ascertainment of presidential electors, stating that Vice President Joe Biden received 80,555 more votes than President Donald Trump.

In addition the representatives released the below message:

Update:  President Trump tweets:

President Trump won Pennsylvania by 700,000 votes on election night

end

No 7

Will Wisconsin official move their 10 electoral votes to Trump after 200,000 mostly Biden votes were ruled illegitimate?

(Gateway Pundit/Hoft)

 

Will Wisconsin Officially Move Their Electoral College Votes to President Trump After 200,000 Mostly Biden Votes Were Ruled Illegitimate?

We reported a couple weeks ago that the Wisconsin Supreme Court ruled that over 200,000 [likely mostly] Biden votes were ruled illegitimate. 

This clearly places this state in President Trump’s column.  Will this be reflected on January 6th?

We reported a couple weeks ago that the Wisconsin Supreme Court agreed with the President’s position on indefinitely confined cases.

The Wisconsin Supreme Court ruled in favor of Mark Jefferson and the Republican Party of Wisconsin.

TRENDING: EXCLUSIVE: Senator Kelly Loeffler to Gateway Pundit: On Jan. 6, “Nothing is Off the Table” (VIDEO)

But the court noted that a determination must be make in every case before tossing a ballot, as President Trump has sought in a separate lawsuit.

Under Wisconsin law, a voter may receive a ballot by mail and bypass Wisconsin’s voter ID law, if the voter, by his own determination, concludes he “confined” based on age, physical illness, or infirmity. This fall, roughly 215,000 voters in Wisconsin said they were indefinitely confined, nearly a four-fold increase from the 2016 election.

The court said the government’s interpretation of Wisconsin’s indefinitely confined was erroneous. “A county clerk may not “declare” that any elector is indefinitely confined due to a pandemic,” the court said. The court further stated that, “…the presence of a communicable disease such as COVID-19, in and of itself, does not entitle all electors [voters] in Wisconsin to obtain an absentee ballot…”

Moreover, the court stated that lockdown orders do not meet the requirements under Wisconsin law to allow a voter to claim the status of “indefinitely confined” either.

There are 240,000 indefinitely confined cases in Wisconsin this year. Most are illegitimate and these were unquestionably votes for Joe Biden.

A judge has agreed that these votes are illegitimate. Republicans should eliminate every one until the Democrats can prove any of them are legitimate.

Will the Republican leadership stand up and disqualify these votes and assign all their electoral votes to President Trump and will these be included in VP Pence’s decision next week when recognizing who won the 2020 election?

end

CORONAVIRUS UPDATE CALIFORNIA

“People Are Fed Up”: California Out Of Excuses As Coronavirus Defies Militant Lockdowns

 
MONDAY, DEC 28, 2020 – 22:40

California’s response to COVID-19 ranks slightly below China welding people inside apartment buildings in terms of militancy, yet the for all the measures taken by the Golden State, it’s become one of the nation’s worst epicenters for the pandemic, according toPolitico.

Registered Nurse Allison Shiftar puts on protective glasses as she gets ready to go into one of the triage rooms to care for a Covid-19 positive patient in the emergency department at Sutter Roseville Medical Center in Roseville, Calif. | Renee C. Byer/The Sacramento Bee via AP, Pool)

And if Politico is calling out California, whose Democratic governor deems himself above his own rules, you know it’s bad.

America’s most populous state has become one of the nation’s worst epicenters for the disease, setting new records for cases, hospitalizations and deaths almost every day. Things are so bad in Southern California that some patients are being treated in hospital tents, while doctors have begun discussing whether they need to ration care.

The turnabout has confounded leaders and health experts. They can point to any number of reasons that contributed to California’s surge over the past several weeks. But it is hard to pinpoint one single factor — and equally hard to find a silver bullet. –Politico

The state of nearly 40 million residents has seen almost 2 million cases and 22,000 deaths despite strict mask mandates, school and playground closures, and restrictions on dining that are destroying small businesses across the state.

“Nationally, there has been a kaleidoscopic application of every imaginable type of lockdown order with California being the most restrictive and inflicting the most devastation on small businesses and the most economically vulnerable service workers. And still, we are none the better as far as COVID is concerned,” said California Restaurant Association President and CEO Jot Condie, adding “In fact in L.A. where indoor and outdoor dining are completely shut down, with indoor dining [closed] since July, the virus rages on.”

Meanwhile, the state – like many others, is suffering from spikes in crimemental illness and suicide.

At more than 100 new daily cases per 100,000 residents, California’s case rate is second only to that in Tennessee, according to the nonprofit tracking site Covid Act Now — though it’s a state that does not mandate mask wearing and allows indoor gatherings of up to 10 people. The website Covid Exit Strategy shows a 97 percent rise in Covid throughout California, which has gone in the opposite direction from its West Coast counterparts, Oregon and Washington. -Politico

“We are facing a very, very difficult and very dangerous time in our county, in our region and in our state. All of our numbers are going in the wrong direction, and our reality is rather grim at the moment,” said Santa Clara County public health officer Sara Cody last Wednesday. “If we have a surge on top of a surge… we will definitely break.”

Officials have few answers for what’s going on – blaming gatherings such as postseason viewing parties when the Dodgers and Lakers won championships this fall. Others have blamed the strict rules themselves – arguing that frustrated Californians couldn’t take it any longer and decided to live their lives – fueled in part by narrative-busting findings such as a Colorado study concluding that there is ‘no statistically significant‘ link between gyms and COVID cases.

Politico notes that the state – while imposing strict lockdowns – has very little capability to enforce, instead relying on its regulatory agencies to make examples out of the worst-offending establishments. Meanwhile, several Sheriffs have publicly announced that they will not enforce the state’s stay-at-home restrictions and other pandemic measures,

“It’s a big state. We get big numbers when things go wrong,” says UC San Francisco professor of epidemiology and statistics, George Rutherford.

Shame?

According to Gov. Gavin Newsom, residents need to rely on ‘social pressure’ to keep people apart. The state has spent tens of millions of dollars on billboards and advertisements promoting ‘responsible’ behavior. Newsom himself, however, made headlines when he broke his own guidelines to attend an upscale dinner party with lobbyists.

And perhaps thanks to Newsom’s hypocrisy, people are now ignoring his edicts.

In the biggest shopping month of the year, parking lots at malls and retail centers are packed. Such stores are among the few indoor operations allowed to stay open with stated capacity limits. Mobility data from Google suggests that Newsom’s December stay-home orders have barely made a dent in keeping people home compared to previous months, though the baseline doesn’t say whether it may have tamped down traffic compared to last December.

Critics have questioned the science behind the regional lockdown orders. Public and industry pressure has already convinced state health officials to reopen playgrounds and relax limits on grocery store capacity. A Los Angeles trial court judge also said the county’s prohibition on outdoor dining was “arbitrary” and that there was insufficient evidence showing it was a source of virus spread. -Politico

According to state Assemblyman Jordan Cunningham (R-Templeton), the state’s attempt to “shut down types of human interaction without seeing if that’s effective” created a backlash, which is “driving people to higher-risk activity” such as holding large gatherings at homes instead of restaurants.

“The public health officials have lost credibility with a huge section of the populace. They’re just tuning them out now,” says Cunningham. “The goalposts are moving all the time. … People are fed up with it and they don’t think it makes any sense, and they’re not wrong.

END
Marco Rubio slams USA health officials for assuming that the majority of Americans do not know what is good
for them and tricking people into taking the vaccine,
(Watson/Summit News)

Rubio: Elites “Tricking” Americans Into Taking Vaccine

 
TUESDAY, DEC 29, 2020 – 8:51

Authored by Steve Watson via Summit News,

Senator Marco Rubio slammed US health officials Sunday for assuming that the majority of Americans “don’t know what’s good for them”, and ‘tricking’ people into doing what ‘elites’ want them to do when it comes to COVID.

Rubio singled out Dr Anthony Fauci, noting that the epidemiologist has consistently misled the public.

“Dr. Fauci lied about masks in March. Dr. Fauci has been distorting the level of vaccination needed for herd immunity,” Rubio tweeted.

The Senator added that:

“It isn’t just him. Many in elite bubbles believe the American public doesn’t know ‘what’s good for them’ so they need to be tricked into ‘doing the right thing.‘”

Fauci, like many other government health officials, did a complete 180 flip on masks earlier in the year, after originally advising the public that the face coverings are not effective against the virus.

The evidence still has not emerged to support the notion that face coverings in any way mitigate the spread of the disease, yet Fauci and others have continuously urged the public to wear them, leading many countries to mandate the masks.

Senator Rubio’s remarks on Fauci misleading the public on vaccines came after the epidemiologist admitted to the New York Times that he and other public health officials engaged in “quietly shifting” the numbers of Americans they believe must take the shot in order to achieve “herd immunity.”

“When polls said only about half of all Americans would take a vaccine, I was saying herd immunity would take 70 to 75%,” Fauci said, adding “Then, when newer surveys said 60% or more would take it, I thought, ‘I can nudge this up a bit,’ so I went to 80, 85.”

“We have to have some humility here…We really don’t know what the real number is. I think the real range is somewhere between 70 to 90%. But, I’m not going to say 90%,” he added.

Fauci’s comments prompted a backlash:

Appearing on CNN, Fauci explained away the remarks by saying “I want to encourage the people of the United States and globally to get vaccinated.”

Despite criticising Fauci on his vaccine comments, Senator Rubio himself took the vaccine last week:

Fauci declared last week that he believes holiday celebrations between family members should have been canceled, warning that it’s “just one of the things you’re going to have to accept”.

Fauci also complained that the “independent spirit in the United States of people not wanting to comply with public health measures has certainly hurt us a bit.”

“There are people in various parts of the country who still believe that [COVID-19] is a hoax, that it’s fake — even when in their own state the hospitals have been overrun with patients in the hospital beds and in the intensive care unit,” Fauci said, adding “That’s very unusual to see a situation like that, but that is what is going on in this country.”

end

Michael Snyder on the measly $600 in stimulus checks provided to USA citizens. It will have no real effect

(Michael Snyder)

$600 Stimulus Checks Won’t Pull America Out Of This Mess…

 
TUESDAY, DEC 29, 2020 – 10:29

Authored by Michael Snyder via The Economic Collapse blog,

Well, it looks like we are going to get $600 stimulus payments from the federal government after all.  Oh goody!  For the millions of Americans that are on the brink of being evicted from their homes, that will be enough for about half a mortgage payment or about half a month of rent.  Many are referring to this as America’s “let them eat cake moment”, and that probably is not too far off target.  As our politicians spend hundreds of billions of dollars on other nonsense, we are supposed to be deeply grateful to them for tossing a few hundred bucks our way. But the truth is that $600 dollars does not go as far as it once did.  20 years ago, it would have bought more groceries than any of us could have possibly put into a single vehicle, but today it will buy about two carts of food and maybe a tank of gas.

If we are going to go “full Weimar” and destroy any hope of ever getting our national finances under control, we might as well make the checks big enough to smile about.

But while you get a measly $600, the federal government is spending $6,900,000 on a “smart toilet” which can actually recognize a user’s “analprint”…

In his latest report on federal government waste, a project he completes every year, Sen. Rand Paul (R-Ky.) highlights $54.7 billion in government spending that he deems wasteful. Among the items noted this year is the creation of a $6.9 million “smart toilet,” which operates with three cameras, one of which can identify a user’s “analprint.”

As explained in The Festivus Report 2020, researchers at Stanford University used $6,973,057 in funds granted through the National Cancer Institute, which is part of the National Institutes of Health (NIH) to create a so-called “smart toilet.”

Really?

Just when I think that it can’t possibly get any worse, the federal government comes up with even more bizarre ways to waste our tax dollars.

At least if we were only spending what we brought in I could live with that.  But instead, we have been stealing more than $100,000,000 dollars from future generations of Americans every single hour of every single day ever since Barack Obama first entered the White House.

I am not just picking on the Democrats.  At this point most Republicans have abandoned any pretense of fiscal responsibility, and that fact makes me sick to my stomach.

Today, we are 27.5 trillion dollars in debt, and soon it will be 30 trillion dollars.

If we are going to liquidate the nation anyway, let’s give people checks that are so large that they will be dancing in the streets.

Because giving people $600 checks in this economic environment is essentially the equivalent of spitting into Niagara Falls.

Let me try to illustrate what I am talking about.  Right now, there are 12 million U.S. renters that are more than $5,000 behind on their rent and utilities…

The newest data from Moody’s Analytics shows about 12 million renters are now at least $5,850 behind in rent and utilities payments — and eviction protections expire in weeks.

Okay, so let’s assume that all of those people get $600 payments on a timely basis.

In the end, on average they will still be about $5000 behind on their payments, and the start of a new month is right around the corner.

And there are millions of other Americans that are living so close to the edge financially that they have been putting their rent payments on a credit card

There’s been as much as a 70% percent increase from last year in people paying rent on a credit card, according to an analysis by the Federal Reserve Bank of Philadelphia.

“If you’re putting your rent payments on to a credit card, that shows you’re really at risk of eviction,” says Shamus Roller, executive director of the nonprofit National Housing Law Project. “That means you’ve run out of savings; you’ve probably run out of calls to family members to get them to loan you money.”

Yes, $600 will help.

But not much.

For 32-year-old Jo Marie Hernandez, $600 might buy a little bit of time, but what she really needs is a new job

Jo Marie Hernandez doesn’t know how she and her 4-year-old daughter will survive after her unemployment aid lapsed this weekend.

Hernandez, who lives in Olean, New York, is on the brink of losing her home in days after she lost her job as a customer service associate at a gas station in the spring. Enduring prolonged unemployment, she’s struggled to make ends meet and has nothing left in savings to keep her afloat.

I can’t even imagine the emotional pain that she must be going through right now.

When you have a young child and you are about to be thrown out into the streets, nothing else really matters

“I only have $100 left to my name. My whole world is shattered,” says Hernandez, 32, who was forced to put her car up for sale. “We can’t wait a few weeks for help. We’re starving and will be out on the street soon.”

Sadly, there are millions and millions of other Americans that are facing similar scenarios right now.

This is what an economic depression looks like, and economic conditions are going to continue to deteriorate moving forward.

Many on the left are assuming that future stimulus checks will be bigger once Joe Biden gets into the White House.  But every additional dollar that we borrow makes our long-term problems even worse.

Our national debt continues to spiral wildly out of control, the money supply is shooting up at an exponential rate, and we are mired in the worst economic downturn since the Great Depression of the 1930s despite unprecedented government intervention.

This is the big meltdown that everyone has been waiting for, and we are still only in the very early chapters.

So no, $600 stimulus payments won’t actually fix anything.

But hopefully they will ease the suffering slightly as the U.S. economy continues to relentlessly steamroll toward oblivion.

*  *  *

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

END

Seems that we have a little rebellion against McConnell

(zerohedge)

$2,000 Stimulus May Pass Senate As Republicans Defy McConnell, Side With Trump

 
TUESDAY, DEC 29, 2020 – 11:00

Senate Republicans are facing an optics nightmare after 44 House Republicans joined 231 Democrats on Monday to pass a bill which would increase stimulus checks from $600 to $2,000. The move, staunchly opposed by Senate GOP leaders, followed President Trump’s surprise demand last week that lawmakers include the increase in a $900 billion package which he ultimately signed – instead calling on a separate bill to boost the payments.

“The House and the President are in agreement: we must deliver $2,000 checks to American families struggling this Holiday Season,” said House Speaker Nancy Pelosi in a tweet, according to Bloomberg.

And so, with Democrats, Trump, and nearly 25% of House GOP endorsing the increased payouts, Senate Majority Leader Mitch McConnell (R-KY) is now in the uncomfortable position of denying Americans a hefty stimulus increase after the same Senate approved a $1.4 trillion appropriations package which was full of pork. Handouts include billions in foreign aid ($10 million for Pakistani ‘gender programs’), missile procurement, and a plethora of other items which don’t benefit the general American public.

What’s more, Georgia Sens. David Purdue and Kelly Loeffler, who have a runoff election in a week, now support the $2,000 checks as well according to Bloomberg. In addition, Sens. Marco Rubio and Josh Hawley also support it.

Senate Majority Leader Mitch McConnell hasn’t said whether the Senate would take up the House bill, attempt to vote on a different one that would also increase direct payments or simply ignore the issue. Senate Democratic leader Chuck Schumer said he’ll seek unanimous consent to pass the House bill on Tuesday. But the move is expected to draw an objection from a Republican, effectively shutting down the effort.

Much depends on whether the president moves on from the issue or uses it to attack Senate Republicans. –Bloomberg

As Bloomberg notes, Trump’s push for $2,000 checks may have been revenge for abandoning his bid to overturn the results of the November election based on claims of widespread fraud, irregularities, and illegal 11th hour changes to election law permitting an unprecedented number of otherwise invalid absentee ballots to count.

“Give the people $2000, not $600,” said Trump on Tuesday morning, adding “They have suffered enough from the China Virus!!!”

McConnell, meanwhile, is expected to discuss the matter when he opens the Senate for debate Tuesday afternoon, as the chamber will likely need unanimous consent to be both override Trump’s veto of a defense bill, as well as bat down the $2,000 checks — which is unlikely to happen anytime soon. If that’s the case, the matter may fall into the hands of the Biden administration, particularly if Democrats win in the Georgia runoff on January 5, which will hand the Senate to the Democrats.

In addition to boosting checks to $2,000, the House bill expands the number of people eligible to receive them, including child dependents. Currently, only children of adults under the income caps qualify.

The nonpartisan Committee for a Responsible Budget estimates that the bigger payments would raise disposable income in the first quarter to as much as 25% above pre-pandemic levels. The legislation would produce an additional 1.5% in GDP output, but not all of the growth would occur in 2021, according to Marc Goldwein, an economist who co-authored the CRFB projections.

But many Republicans had opposed stimulus payments larger than the $600 in the existing law, in part over concerns about the price tag. Bumping the payments to $2,000 would cost roughly $463.8 billion, according to estimates by the staff of the Joint Committee on Taxation. –Bloomberg

“I worry that this whopping $463 billion won’t do what’s needed, stimulate the economy or help workers get back to work,” said Rep. Kevin Brady (R-TX) before the House vote, adding “It’s hard to stimulate the economy that is locked down by local politicians.

end

Robert to me:

Get ready for the INSURRECTION ACT | SOTN: Alternative News, Analysis & Commentary

 
 
 
 
 
 
 
“Is this what we have come to?

 

The fools think they can remake the economy, when they do not even understand how it works.

Trade and consumer spending is what drives the world economy and this is based on confidence.

The idea that somehow magically the economy will rebound is a myth propagated by govern””ment who have succumbed to the communism of the the Reset crowd and are grasping that lockdowns and fear mongering of the virus will allow control and subjugation of a populace. Stalin did this for years segregating people and sending them off to camps. It is under way already. Even confinement to your residence after travel is a form of punishment for not listening to fear mongering travel advisories.

The longer it takes for people to wake up the harder it will be to return to the world we recently knew. And that is possible only in a few nations. Americans are fortunate to still have guns and the guts to say no. Soon even those who were against Trump because they hated the image of man  will come to conclusion that Biden and company are a falsehood.
In Germany their public Rail service has announced a loss of €9 billion as their service utilization is below 40% at a time when trains are full. Their economy is being crushed.

Central banks can cry about the inability to buy government debt endlessly and they are correct. This hysterical lockdown over a virus where 99% of the population recovers  is remaking society in ways that even the Reset crowd no longer understands. And they think they can remake the world with success? Add to this the tech titans who wish to crush banking to serve their ambitions and a crazed Gates obsessed with population control and you have a perfect ship of fools sailing into uncharted waters eager to devour them and their ambitions along with everything else.

We  enjoyed peace in our lives after WWII because a consumer economy was created that caused innovation and productivity. Today, this model is broken. Whether it is chip supply or simple delivery of innovation the global supply chains are broken and will take time and capital to rebuilt. The only hope for peace is to rebuild the American economy, there is no alternative. This is the one thing that stands in the way of the communist agenda and why it is their determined effort to crush Americans and America into submission. Sadly, this effort is precursor to future war that will come. As long as countries could stimulate their own economies by selling into the consumer economy peace was more rewarding than war. China may wish dominance but dominance of what? They cannot sustain their economy without an American consumer. The  EU can do their free trade deal with China but it will not save them or China. China will however use the opportunity to suck out whatever life is left in Europe economically.

If a true shift the power occurs in a decade or so, by moving to China, then this will occur with the divisions that are present in America that will widen and never be healed. The true future of economic and financial control will be determined by that or those countries willing and able to move past this attempt of seizing world economic control into communist hands, with the resounding desire to promote small business allowing people to prosper through their own initiatives and ability. Ever since serfdom gave way to freedom because of a lack of manpower, this has been the driver of positive change and wealth creation. This is true of countries and individuals. And countries like Germany and Japan used this mercantile model to prosper which was made possible by a American consumer willing to buy with ready capital.

Recently visiting New York, I saw first hand how restaurants were prospering while in Toronto they are dying changing the city. Want a haircut or color, there is no problem and even the nail salons are busy. The Metropolitan is open and retail stores on 5th Avenue are packed. It is clear New York will rebound as a city while Toronto will have a much longer road to take to recover to what it was.

Whatever occurs in America next month will impact all of us much more than people think.”

http://stateofthenation.co/?p=42264

 
 
end
 

China/the world

A major leak exposes CCP members are embedded all over the world

Franz Waller

(NaturalNews)_

Major leak exposes CCP members secretly embedded all over the world

Bypass censorship by sharing this link:
New
 
 
Image: Major leak exposes CCP members secretly embedded all over the world
 

(Natural News) A major leak has exposed the details of nearly two million Chinese Communist Party (CCP) members who have been secretly embedded in some of the world’s biggest companies, banks, universities and government agencies.

According to a report by The Australian‘s Sharri Markson, the leak contains a register with details of CCP members including their names, party position, national id number and ethnicity.

“What’s amazing about this database is not just that it exposes people who are members of the communist party, and who are now living and working all over the world, from Australia to the U.S. to the U.K.,” said Markson on Sky News Australia. “But it’s amazing because it lifts the lid on how the party operates under President and Chairman Xi Jinping.”

Data originally extracted in 2016, before being leaked to the world this year

Among the companies mentioned in the list are manufacturers such as Volkswagen and Boeing, pharmaceutical companies such as Pfizer and AstraZeneca as well as banks such as HSBC and Standard and Chartered. On the latter, the leak claims that around 600 people at those banks are CCP members.

All in all, the leak reveals the details of 1.95 million CCP members in around 79,000 branches of the CCP that have been set up inside western companies. Members of these branches are, if called on, answerable directly to the party and to Xi himself.

“It is also going to embarrass some global companies who appear to have no plan in place to protect their intellectual property from theft, from economic espionage,” Markson said.

According to Markson, the data was originally extracted from a server in Shanghai by Chinese dissidents and whistleblowers in April of 2016, who have been using it for counter-intelligence purposes.

It was only this past September that the data was leaked to the Inter-Parliamentary Alliance on China, a newly-formed international bi-partisan group made up of 150 legislators from around the world.

Following that, the data was then released to an “international consortium” of media organizations who analyzed it over the past two months. These outlets were Australia’s The Australian, the U.K.’s The Sunday Mail, Belgium’s De Standaard as well as an editor in Sweden.

Leak adds to growing evidence on the extent of CCP espionage

The leak is the latest evidence of the extent of the CCP’s espionage activities as it tries to increase China’s influence and power globally. It also punctuates other warnings that have been raised about the extent of Chinese espionage that have been made in recent months.

In November, former senior U.S. intelligence official turned analyst and author Nicholas Eftimiades warned that Chinese espionage operations around the world were now “off the scale.” Eftimiades, who wrote a book on China’s intelligence operations back in 1994, stated that Chinese intelligence activities were much more pervasive now than when he wrote his book. (Related: Chinese espionage operations in the U.S. are “off the scale,” warns analyst.)

More importantly, Eftimiades warned that the CCP had adopted a “whole-of-society” approach to acquiring foreign intellectual property, stating that this approach “energizes all of society to support national, economic, and military development goals.”

The extent of the espionage is evidenced by the over 1,000 Chinese researchers with suspected links to China’s People’s Liberation Army (PLA) that have left the U.S. since law enforcement agencies started cracking down on technological and economic espionage.

During a discussion hosted by the Aspen Institute, the Department of Justice‘s (DOJ) Assistant Attorney General for National Security John Demers said that these Chinese military-linked researchers left the country after the department started filing its many criminal cases against suspected Chinese operatives.

These arrests started earlier this year when at least four Chinese researchers were arrested and charged with visa fraud for lying on their applications. Chinese researchers usually get charged with this for failing to reveal their ties to the Chinese government.

According to Demers, these arrests were “the tip of the iceberg” that led the DOJ’s National Security Division to open an investigation that eventually uncovered a vast network of Chinese researchers with PLA ties.

This sentiment is echoed by National Counterintelligence and Security Center Director William Evanina, who said that there were even more Chinese operatives lurking in the United States. In particular, he suspects that many are coming into the country under the guise of being graduate-level students in universities and colleges.

“Let’s not kid ourselves. They are all coming here at the behest of the Chinese government intelligence services,” Evanina said. “They’re going to specific universities to study specific fields or areas that are going to benefit … the Chinese Communist Party and the military.”

Already, the more than 1,000 visas of Chinese students with ties to the PLA have been revoked. DOJ officials have made it clear that this group of students is different from the previous group of over 1,000 who fled the country in prior months.

Will the government agencies be able to continue fighting Chinese espionage?

Even as U.S. officials continue to fight Chinese espionage, the future of these efforts is now in doubt. These efforts thrived under the administration of President Donald Trump, who has largely been critical of China and the CCP. Democratic presidential nominee Joe Biden, on the other hand, is generally seen as being more friendly towards China.

Should the latter become president, the question then is if the current efforts to curtail Chinese espionage in the U.S. will continue. This matter is complicated by the fact that Biden’s son Hunter has had dealings with Chinese corporations in the past.

It’s quite possible that a Biden administration could reverse course on Trump’s treatment of China. With what we know now based on the recent leak and the government’s own efforts, then China could stand to gain even more from its espionage efforts than it already has.

Follow CommunistChina.news for more on the CCP’s technological and economic espionage efforts.

Sources include:

ZeroHedge.com

SkyNews.com.au

BusinessInsider.in

TheEpochTimes.com

end

iv) Swamp commentaries

This will be fun re Hunter Biden’s laptop.  The computer repair shop owner now sues Twitter for 500 million in a defamation suit

(zerohedge)

Hunter’s Laptop: Computer Repair Shop Owner Sues Twitter For $500 Million In Defamation Suit

 
TUESDAY, DEC 29, 2020 – 8:30

Twitter has been sued by a Delaware computer shop owner who says the social media giant effectively labeled him a “hacker” after he was outed as the source of Hunter Biden’s laptop.

John Paul Mac, who provided signature evidence that Hunter Biden dropped his laptop off at the Wilmington, Delaware repair shop – subsequently abandoning it, says Twitter’s actions forced him to shut down the ‘Mac Shop’ after Twitter said the New York Post‘s exposé on the laptop violated its “hacked materials” policy – which they initially disallowed from being shared across the network, according to Variety.

The Rupert Murdoch-owned paper claimed the material for its Hunter Biden exposés was supplied by Trump personal lawyer Rudy Giuliani, who allegedly obtained it from a MacBook Pro that had been abandoned in Mac Isaac’s shop.

Mac Issac is demanding $500 million in punitive damages from Twitter plus unspecified compensatory damages and lawyers’ fees, as well as an order forcing Twitter to “make a public retraction of all false statements.” His lawsuit was filed Monday, Dec. 28, in the U.S. District Court for the Southern District of Florida. –Variety

“Plaintiff is not a hacker and the information obtained from the computer does not [constitute] hacked materials because Plaintiff lawfully gained access to the computer,” reads Mac’s complaint, adding that thanks to Twitter citing its “hacked materials” policy, he is now “widely considered a hacker,” and has received negative online reviews along with threats against himself and his property – forcing him to ultimately shutter the Mac Shop.

After first citing its “hacked materials” policy for the URL blocking, Twitter a day later revised that policy to allow tweets that discuss hacked material and that the company would now add labels to (rather than block) posts that link to such content.

On Oct. 30, Twitter made another update: The social network said that enforcement decisions made under policies that are subsequently changed will no longer be applied retroactively. “This means that because a specific @nypost enforcement led us to update the Hacked Materials Policy, we will no longer restrict their account under the terms of the previous policy and they can now Tweet again,” the Twitter Safety team said in a thread. In addition, the Post’s previous tweets linking to the Biden stories, which Twitter had disabled, were restored. –Variety

After Twitter blocked the story, President Trump threatened to strip big tech platforms of Section 230 protections, which allow companies like Twitter to moderate content without legal liability for offensive posts made by its users.

Mac may also have a bone to pick with Democrats and mainstream media outlets, who said that Russia was behind the laptop scandal.

House Intelligence Committee Chairman Adam Schiff called it a “propaganda coup from Vladimir Putin.”

Senator Chris Murphy (D-CT) went full tin-foil, suggesting that Giuliani was a ‘key target’ of ‘Kremlin constructed anti-Biden propaganda.’

Headlines in major publications were perhaps even more conspiratorial:

And of course, propagandists are doing their thing…

And of course, propagandists are doing their thing…

Which means Mac is being directly accused of participating in a Russian plot. How familiar.

end
 

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

All EU member states back China investment deal, sources say

https://www.scmp.com/news/china/diplomacy/article/3115588/all-eu-member-states-back-china-investment-deal-sources-say

 

@Jkylebass: Europe is so deeply corrupted by Chinese money that this deal was a fait accompli. It’s time the good citizens of western democracy and the rule of law revolt against Chinese coercion and bribery. I have a plan for the USA

It Took 115 Days after 1876 Election to Decide President after Claims of Voter Fraud

Initially, Tilden won a majority of the popular vote as well as 184 electoral college votes to Hayes’s 165, with 20 votes from four states unresolved…Hayes was declared the winner with 185-184 Electoral College majority—115 days after Election Day. It led to the Compromise of 1877, in which Republicans agreed to an end to Reconstruction and military occupation of the South…

https://www.newsweek.com/1876-election-115-days-decide-president-claims-voter-fraud-1545398

Ex-NSC official @RichHiggins_DC: Did you know that Venezuela was allowed to compromise our electronic voting infrastructure over about 12-15 years?  They did this under the Obama Admin through a front company in Canada and a merger and acquisition plan executed right under our noses. But it gets better… so the front company no longer worked for Venezuela but was a subsidiary of the growing China globalist plan of action.  Imagine the level of intelligence failure it is to allow China to control our election infrastructure.  Worse than even the pre 9-11 debacle….and then 4 weeks before the 2020 election China pours in another $400M into this re-named front companies’ holding company and again…nobody says a word.  Think about it……

Even Homer Gets Mobbed – A Massachusetts school has banned ‘The Odyssey.’

No author is valuable enough to spare, Ms. Venkatraman instructs: “Absolving Shakespeare of responsibility by mentioning that he lived at a time when hate-ridden sentiments prevailed, risks sending a subliminal message that academic excellence outweighs hateful rhetoric.”… Thus Seattle English teacher Evin Shinn tweeted in 2018 that he’d “rather die” than teach “The Scarlet Letter,” unless Nathaniel Hawthorne’s novel is used to “fight against misogyny and slut-shaming.”…

https://www.wsj.com/articles/even-homer-gets-mobbed-11609095872

Well that is all for today

I will see you WEDNESDAY night.

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