JAN 6/2021//THE STORMING OF THE BASTILLE!(CAPITOL BUILDING)

GOLD:$1907.50 DOWN   $44.25   The quote is London spot price

Silver:$26.95 UP $0.33   London spot price GOLD( cash market)

Closing access prices:  London spot

i)Gold : $1919.00  LONDON SPOT  4:30 pm

ii)SILVER:  $27.30//LONDON SPOT  4:30 pm

GOOD START TO THE WEEK: HUGE JUMP IN GOLD AND SILVER AND EVEN BITCOIN BREAKS INTO THE 34,000 DOLLAR COLUMN.

THIS IS THE FIRST TIME IN QUITE A WHILE THAT WE HAD TWO CONSECUTIVE DAY ADVANCES IN BOTH GOLD AND SILVER.  .  THE CROOKS GENERALLY HIT OUR PRECIOUS METALS AS A FOLOW THROUGH IS NOT PERMITTED.

DONATE

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

EXECUTIVE ORDER 13848

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

DONATE

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

COMEX DATA

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

receiving today:  1/6

EXCHANGE: COMEX
CONTRACT: JANUARY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,952.700000000 USD
INTENT DATE: 01/05/2021 DELIVERY DATE: 01/07/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
624 H BOFA SECURITIES 2
657 C MORGAN STANLEY 1 3
661 C JP MORGAN 1
737 C ADVANTAGE 5
____________________________________________________________________________________________

TOTAL: 6 6
MONTH TO DATE: 811

ISSUED 0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

TOTAL NUMBER OF NOTICES FILED TODAY:   6 NOTICES FOR 600 OZ  (0.0186 TONNES)

TOTAL NUMBER OF NOTICES FILED SO FAR:  811 NOTICES FOR 81,100 OZ  (2.5225 tonnes) 

SILVER//JAN CONTRACT

0 NOTICE(S) FILED TODAY FOR NIL  OZ/

total number of notices filed so far this month: 541 for 2,705,000  oz

BITCOIN MORNING QUOTE  $34,625   UP  685

BITCOIN AFTERNOON QUOTE.  :$36,024  UP 2118 DOLLARS .

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD AND SLV INVENTORIES:

WITH GOLD DOWN $44.25 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 INVENTORY AT THE GLD:

A WITHDRAWAL FO 1.17 TONNES FROM THE GLD/

INVENTORY RESTS AT:

GLD: 1,186.78 TONNES OF GOLD//

WITH SILVER DOWN 54 CENTS TODAY: AND WITH NO SILVER AROUND:

A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//

A DEPOSIT OF 4.156 MILLION OZ INTO THE SLV//

INVENTORY RESTS AT :

SLV: 562.871  MILLION OZ./

XXXXXXXXXXXXXXXXXXXXXXXXX

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

IN SILVER THE COMEX OI ROSE BY A STRONG SIZED 1298 CONTRACTS FROM 174,707 UP TO 176,005, AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE STRONG GAIN IN COMEX OI  OCCURRED WITH OUR HUGE GAIN OF $0.33 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS  DUE TO CONSIDERABLE BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A GOOD EXCHANGE FOR PHYSICAL. WE  HAD ZERO LONG LIQUIDATION,AND A ZERO GAIN IN  SILVER OUNCES  STANDING AT THE COMEX FOR JAN. WE ALSO HAD A HUGE SIZED  GAIN IN OUR TWO EXCHANGES OF 1977 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A GOOD  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  533, AS WE HAD THE FOLLOWING ISSUANCE:    MARCH 533 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  533 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.

46.685 MILLION OZ FINAL STANDING FOR DEC.

4.915 MILLION INITIAL STANDING FOR JAN 2021

TUESDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE $0.33) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME  SILVER LONGS AS WE HAD A STRONG GAIN IN OUR TWO EXCHANGES (1831 CONTRACTS). NO DOUBT THE GAIN IN OI ON THE TWO EXCHANGES WAS DUE TO i) CONSIDERABLE BANKER/ STRONG ALGO SHORT COVERING.  WE ALSO HAD  ii)  A GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A ZERO GAIN STANDING FOR IN SILVER OZ STANDING FOR JAN, 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..

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 JAN:

2794 CONTRACTS (FOR 3 TRADING DAY(S) TOTAL 2794 CONTRACTS) OR 13.970 MILLION OZ: (AVERAGE PER DAY 931 CONTRACTS OR 4.65 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JAN: 13.970 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 0.20% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*

ACCUMULATION IN YEAR 2021 TO DATE SILVER EFP’S:          13.970 MILLION OZ.

JAN EFP ACCUMULATION SO FAR:  13.970 MILLION OZ  (INCREASING AGAIN)

RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1444, WITH OUR  $0.33 GAIN IN SILVER PRICING AT THE COMEX //TUESDAY.…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1981 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE GAINED A STRONG  SIZED 1831 OI CONTRACTS ON THE TWO EXCHANGES  (WITH OUR  $0.33 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  533 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A STRONG SIZED INCREASE OF 1298 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.33 RISE IN PRICE OF SILVER/AND A CLOSING PRICE OF $27.49 // TUESDAY’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. 0.8750 BILLION OZ TO BE EXACT or 125% of annual global silver production (ex Russia & ex China).

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

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

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A SMALL SIZED 1488 CONTRACTS TO 568,888 AND CLOSER TO  OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE GAIN IN COMEX OI OCCURRED WITH OUR STRONG RISE IN PRICE  OF $10.05 /// COMEX GOLD TRADING/TUESDAY.WE  HAD SOME BANKER/ALGO SHORT COVERING ACCOMPANYING OUR STRONG/ SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AS WE HAD A STRONG GAIN ON OUR TWO EXCHANGES  (10,219 CONTRACTS). WE  HAD A STRONG GAIN IN THE  AMOUNT OF GOLD STANDING FOR DELIVERY IN JANUARY/:(GOLD NOW STANDING JAN. AT 3.723 TONNES) .THIS ALL HAPPENED WITH OUR RISE IN PRICE OF $10.05. 

THESE LONGS MORPHED INTO LONDON BASED FORWARDS AND RECEIVED A FIAT BONUS FOR THEIR EFFORTS.

.

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  2//

WE HAD A STRONG SIZED GAIN OF 10,219 CONTRACTS   ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A STRONG SIZED 8731 CONTRACTS:

CONTRACT .  FEB: 6731  AND APRIL21: 2000 ALL OTHER MONTHS ZERO//TOTAL: 8731.  The NEW COMEX OI for the gold complex rests at 568,888. 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 INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,219 CONTRACTS: 1488 CONTRACTS INCREASED AT THE COMEX AND 8731 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN//TWO EXCHANGES OF 10,219 CONTRACTS OR 31.78 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (8731) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI  (1488 OI): TOTAL GAIN IN THE TWO EXCHANGES: 12,342 CONTRACTS. WE NO DOUBT HAD  1)  SOME BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2 STRONG GAIN IN GOLD   STANDING AT THE GOLD COMEX FOR THE FRONT JAN. MONTH AT 3.723 TONNES3)  ZERO LONG LIQUIDATION ;4) SMALL COMEX OI GAIN,  5) STRONG SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL….ALL OF THIS OCCURRED WITH  OUR GAIN IN GOLD PRICE TRADING/TUESDAY//$10.05.

WE ARE BEGINNING TO WITNESS A LACK OF EXCHANGE FOR GOLD PHYSICALS UNDERWRITTEN DUE TO PREMIUMS STARTING TO REAPPEAR IN THE FUTURE PRICE OF GOLD VS LONDON SPOT. THE COST TO THE BANKERS IS JUST TOO GREAT TO ENGAGE IN THESE VEHICLES ONCE THIS OCCURS.

We have now switched to GOLD for our spreaders!!

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

SPREADING OPERATIONS/NOW SWITCHING TO GOLD  

SPREADING OPERATION FOR OUR NEWCOMERS:

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED IN GOLD AS WE HEAD TOWARDS THE NEW  ACTIVE FRONT MONTH OF FEB.

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

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2020 INCLUDING TODAY

JAN

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN : 17,852 CONTRACTS OR 1,785,200 oz OR 55.52 TONNES (3 TRADING DAY(S) AND THUS AVERAGING: 5959 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 3 TRADING DAY(S) IN  TONNES: 55.52  TONNES

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

THUS EFP TRANSFERS REPRESENTS 55.52/3550 x 100% TONNES =1.56% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE:  55.52 TONNES (INCREASING AGAIN)

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

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

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A STRONG SIZED 1298 CONTRACTS FROM 174,707 UP TO 176,005 AND CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

THE STRONG SIZED GAIN IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1) SOME BANKER SHORT COVERING//ALGO SHORT COVERING//// , 2) A GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A ZERO INCREASE IN  STANDING FOR SILVER  AT THE COMEX FOR JAN DELIVERY MONTH., AND 4) ZER0 LONG LIQUIDATION 

EFP ISSUANCE 551 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:  551  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 551 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 1298 CONTRACTS TO THE 551 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A STRONG  GAIN OF 1831 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 9.155 MILLION  OZ, OCCURRED WITH OUR $0.33 RISE IN PRICE///

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

(report Harvey)

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING/ TUESDAY NIGHT: 

SHANGHAI CLOSED UP 22.20 PTS OR .63%   //Hang Sang CLOSED UP 42.44 PTS OR .15%    /The Nikkei closed DOWN 109.29 POINTS OR 0.38%//Australia’s all ordinaires CLOSED DOWN 1.09%

/Chinese yuan (ONSHORE) closed DOWN AT 6.4544 /Oil UP TO 49.95 dollars per barrel for WTI and 53.87 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.4544. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4414 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY BY A SMALL SIZED 1488 CONTRACTS TO 568,888 AND CLOSE TO OUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX INCREASE OCCURRED WITH OUR  GAIN OF $10.05 IN GOLD PRICING TUESDAY’S COMEX TRADING/).

 WE HAD A STRONG EFP ISSUANCE (8731 CONTRACTS).  WE THUS HAD  1)  SOME BANKER SHORT COVERING// ALGO SHORT COVERING//,  2)  ZERO LONG LIQUIDATION  AND 3)  STRONG GAIN  IN GOLD OUNCES  STANDING AT THE  COMEX FOR JANUARY.  (COMEX GOLD NOW STANDING AT 3.723 TONNES)/ 4)   AS WE ENGINEERED A HUGE SIZED GAIN ON OUR TWO EXCHANGES OF 10,219 CONTRACTS. WE HAVE LATELY WITNESSED THE EXCHANGE FOR PHYSICALS ISSUED BEING SMALL….. AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS. WE CAN NOW VISUALLY SEE THAT SHORTS ARE TRYING TO EXTRICATE THEMSELVES FROM THEIR MESS (“TRYING TO GET OUT OF DODGE”) AS LONGS DEPART THE COMEX FOR THE SAFER CONFINES OF LONDON.

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT   2

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF JAN..  THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 8731 EFP CONTRACTS WERE ISSUED:   FEB// ’21 76731 AND APRIL ’21: 2000 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 8731  CONTRACTS.

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

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

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 10,219 TOTAL CONTRACTS IN THAT 8731 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A SMALL SIZED 1488 COMEX CONTRACTS.. WE HAVE A STRONG LEVEL OF JAN 2021 GOLD CONTRACTS STANDING FOR DELIVERY. ((3.723 TONNES).  IF YOU INCLUDE  NOVEMBER’S HUGE 34.7 TONNES, AND DEC. 93.589 OUR COMEX IS OFFICIALLY UNDER ASSAULT.

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $10.05). AND, THEY WERE  UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED  4.314 TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR JAN (3.651 TONNES)

NET GAIN ON THE TWO EXCHANGES :: 10,219 CONTRACTS OR 1,021,900 OZ OR  31.78  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:  568,888 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 56.888 MILLION OZ/32,150 OZ PER TONNE =  1769 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1769/2200 OR 80.41% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY 361,695 contracts// volume  good 

CONFIRMED COMEX VOL. FOR YESTERDAY: 287,646 contracts//  volume: fair//

/most of our traders have left for London

JAN 6 /2020

JAN. GOLD CONTRACT MONTH

INITIAL STANDING FOR JAN GOLD
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz   nil oz
Deposits to the Customer Inventory, in oz 0
OZ
No of oz served (contracts) today
6 notice(s)
 600 OZ
(0.186 TONNES)
No of oz to be served (notices)
386 contracts
(38,600 oz)
1.200 TONNES
Total monthly oz gold served (contracts) so far this month
811 notices
81,100 OZ
2.5225 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  0 gold withdrawals from the customer account:

total customer withdrawals: nil  oz

We had 0  kilobar transactions

ADJUSTMENTS: 1//

i) JPMorgan enhanced:  dealer to customer, 11,994.15 oz

The front month of JAN registered a total of 392 contracts for a GAIN of  27. We had 26 notices filed on Thursday so we GAINED 53 contracts or 5300 oz will stand for delivery in the non active delivery month of January.  LONGS refused to  morph into a London based forward as they will try their luck searching for metal on this side of the pond.

FEBRUARY LOST 2970 contracts DOWN TO 405,235 CONTRACTS.

MARCH received 59 contracts to stand at 243

APRIL added 3737 contracts to stand at 96,273

We had  6 notice(s) filed today for  600 oz OR 0.0186 TONNES.

FOR THE JAN 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 6  contract(s) of which  0  notices were stopped (received) by j.P. Morgan dealer and  1 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the JAN /2020. contract month, we take the total number of notices filed so far for the month (811) x 100 oz , to which we add the difference between the open interest for the front month of  (JAN 392 CONTRACTS ) minus the number of notices served upon today (6 x 100 oz per contract) equals 119,700 OZ OR 3.723 TONNES) the number of ounces standing in this NON active month of JAN

thus the INITIAL standings for gold for the JAN/2021 contract month:

No of notices filed so far (811 x 100 oz  PLUS {392 OI) for the front month minus the number of notices served upon today (6} x 100 oz which equals 119,700oz standing OR 3.723 TONNES in this non  active delivery month of January. This is a GOOD amount  standing for GOLD IN  JAN  (generally one of the weakest of all delivery months of the year). 

NEW PLEDGED GOLD:  BRINKS

461,317.475 oz NOW PLEDGED  SEPT 15.2020/HSBC  14.34 TONNES

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

270,456.695 oz  JPM  8.41 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

180,158,329 oz Pledged Nov 27.2021 MANFRA  5.60 TONNES

6308.08 oz International Delaware:  .196 tonnes

968,144.854 Malca

total pledged gold:  2,027,580.317 oz                                     63.06 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 524.77 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 3.723 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  18,899,181.816 oz or 587.55 tonnes
total weight of pledged:  2,027,580.317 oz or 63.06 tonnes
thus:
registered gold that can be used to settle upon: 16,871,601.0  (524,77 tonnes)
true registered gold  (total registered – pledged tonnes  16,871.601.0 (524.77 tonnes)
total eligible gold: 19,281.064.836 , oz (599.72 tonnes)

total registered, pledged  and eligible (customer) gold  38,180.246.652 oz 1,187.56 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1061.22 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
JAN 6/2021

And now for the wild silver comex results

And now for the wild silver comex results

INITIAL STANDINGS

JAN. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
nil oz
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
0
CONTRACT(S)
(NIL OZ)
No of oz to be served (notices)
442 contracts
 2,210,000 oz)
Total monthly oz silver served (contracts)  541 contracts

2,705,000 oz)

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

total dealer deposits: nil       oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

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

i)  Into JPMorgan:  0
ii) Into everybody else: 00

JPMorgan now has 192.769 million oz of  total silver inventory or 48.61% of all official comex silver. (192.769 million/396.532 million

total customer deposits today: 0    oz

we had 0 withdrawals:

total withdrawals nil      oz

We had 0 adjustments:

Total dealer(registered) silver: 150.150million oz

total registered and eligible silver:  396.532 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Jan saw a LOSS of  80 contracts  DOWN to 442 contracts. We had 80 notices filed on Tuesday so we GAINED 0 contracts or nil oz will  stand in this non active delivery month of January.  They refused to morphed into London based forwards

FEBRUARY saw another gain of 4 contracts to stand at 531.  MARCH GAINED 644 contracts UP to 147,024.

The total number of notices filed today for JAN 2021. contract month is represented by 0 contract(s) FOR NIL oz

To calculate the number of silver ounces that will stand for delivery in JAN we take the total number of notices filed for the month so far at 541 x 5,000 oz = 2,705,000 oz to which we add the difference between the open interest for the front month of JAN (442) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the JAN standings for silver for the JAN/2021 contract month: 541 (notices served so far) x 5000 oz + OI for front month of JAN(442)- number of notices served upon today (0) x 5000 oz of silver standing for the NOV contract month .equals 4,915,000 oz. ..VERY STRONG FOR A NON ACTIVE  JAN MONTH.

WE GAINED 0 CONTRACTS OR nil OZ WILL STAND FOR DELIVERY.

TODAY’S ESTIMATED SILVER VOLUME 124,017 CONTRACTS // volume VERY STRONG/RAID//

FOR YESTERDAY  71,359  ,CONFIRMED VOLUME// strong

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO- 2.50% ((JAN 6/2021)

2. Sprott gold fund (PHYS): DISCOUNT to NAV  RISES TO 0.93% to NAV:   (JAN 6/2021 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.50% (JAN 5)

(courtesy Sprott/GATA

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

NAV 20.33 TRADING 19.89///NEGATIVE 2.15

END

And now the Gold inventory at the GLD

JAN 6/WITH GOLD DOWN $44.25 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.17 TONNES//INVENTORY RESTS AT 1186.78 TONNES

JAN 5/WITH GOLD UP $10.05 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF 17.21 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 1187.95 TONNES

JAN 4/WITH GOLD UP $49.70 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD; A DEPOSIT OF 0.88 TONNES INTO THE GLD/////INVENTORY RESTS AT 1170.74 TONNES

DEC 31/WITH GOLD UP $1.45 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1169.86 TONNES

DEC//30//WITH GOLD UP $13.30 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1169.86 TONNES

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 TON87S 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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

JAN 6 / GLD INVENTORY 1186.78 tonnes

LAST;  977 TRADING DAYS:   +242.91 TONNES HAVE BEEN ADDED THE GLD

LAST 877 TRADING DAYS// +420.54  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

Now the SLV Invento62

JAN 6/WITH SILVER DOWN 54 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.156 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 562.871 MILLION OZ//

JAN 5/WITH SILVER 33 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 558.715 MILLION OZ///

JAN 4/WITH SILVER UP 89 CENTS TODAY: A HUGE  CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.672 MILLION OZ INTO THE SLV../INVENTORY RESTS AT 558.715 MILLION OZ//

DEC 31//WITH SILVER DOWN 16 CENTS TODAY:NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 557.043 MILLION OZ

DEC 30/WITH SILVER UP 29 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 557.043 MILLION OZ//./

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/

JAN 6.2021:

SLV INVENTORY RESTS TONIGHT AT  562.871 MILLION OZ

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

[GoldCore TV] Gold Will Protect Your Portfolio in the Coming Inflationary Decade

Inflation has already taken hold and the typical portfolio is at risk, according to Ronni Stoferle of Incrementum and author of the “In Gold We Trust” report.

He has just published a special report – “The Boy Who Cried Wolf – Is an Inflationary Decade Ahead?”

He joins Dave Russell of GoldCore TV to discuss this must-read report that serves as a warning to investors and advises of the action that they need to take now and why buying gold now is a smart move.

You can download the full report here.

Don’t forget to “Like” and share this video and to ensure that you are alerted each time we upload new videos to YouTube, click the subscribe button and hit the notifications bell too!

NEWS and COMMENTARY

Gold jumps more than 2% as dollar sags, Silver set to shine in 2021

Gold Roars Out of Blocks in 2021 as Real Yields, Dollar Decline

Dollar Stumbles Into 2021 as Bets on Global Recovery Domin

Click the video below to watch

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

04-Jan-21 1930.80 1943.20 1411.22 1429.61 1570.71 1581.76
31-Dec-20 1891.10 1891.10 1382.58 1382.58 1539.92 1539.92
30-Dec-20 1877.55 1887.60 1381.31 1387.39 1528.89 1535.19
29-Dec-20 1873.90 1874.30 1388.93 1389.42 1529.66 1528.49
24-Dec-20 1872.55 1872.55 1376.14 1376.14 1535.87 1535.87
23-Dec-20 1867.10 1875.00 1390.06 1382.44 1532.14 1535.06
22-Dec-20 1873.30 1877.10 1399.73 1405.95 1532.73 1538.10
21-Dec-20 1869.25 1880.00 1415.77 1413.57 1540.82 1539.53
18-Dec-20 1878.95 1879.75 1390.80 1393.46 1533.41 1536.13
17-Dec-20 1871.95 1890.75 1378.32 1390.65 1530.88 1542.85

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

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

Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here

Stephen Flood
Chief Executive Office

ii) Important gold commentaries courtesy of GATA/Chris Powell

The Canadian Government vetoed the Chinese suitor bid for TMAC.  Their major operation is in the Artic and thus a good fit for Agnico Eagle

BloombergNews/GATA

Agnico Eagle buys Arctic miner after Canada nixed sale to Chinese firm

 Section: 

By Steven Frank
Bloomberg News
Tuesday, January 5, 2021

Canadian gold giant Agnico Eagle Mines Ltd. has agreed to pay a premium to buy TMAC Resources Inc. for about C$287 million (US$225 million), two weeks after Canada’s government rejected a takeover of the Arctic miner by a Chinese suitor.

Agnico will pay C$2.20 per share in cash, the Toronto-based company and TMAC said today in a joint statement. The offer is 40% more than TMAC’s closing price on Monday and higher than the C$1.75 proposed by China’s Shandong Gold Mining Co. in May.

Agnico didn’t feel pressure to pay a premium for TMAC and basically took over the Shandong purchase arrangement that was already agreed to by TMAC shareholders, Chief Executive Officer Sean Boyd said.

“But conditions have changed since that last deal was approved,” Boyd said today by phone. “Certainly the climate for gold has improved, the mine is generating cash now — it wasn’t earlier this year.” …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2021-01-05/agnico-buys-arctic-mi…

* * *

END

Hemek believes that the gold and silver comex will default as physical supplies are dwindling

(Craig Hemke/GATA)

Craig Hemke at Sprott Money: The Comex is ‘on the brink’

 Section: 

7p ET Tuesday, January 5, 2020

Dear Friend of GATA and Gold:

The New York Commodities Exchange reported delivering 400 percent more gold and 73 percent more silver in 2020 than in 2019, the TF Metals Report’s Craig Hemke writes today at Sprott Money. Hemke concludes that the Comex is “on the brink” of failure to function as the physical market it was never meant to be. His analysis is headlined “Comex Year in Review” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/COMEX-Year-inReview-Craig-Hemke-Jan-05-…

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

END

iii) Other physical stories:

Fed and Bitcoin

Steve tackles the huge price gain in Bitcoin

(courtesy Steve Brown)

Steve Brown

The Fed does not view Bitcoin with disfavor, and it’s frustrating in my effort to get anti-BTC people to see this. On the other hand, Bitcoiners think they are fighting the Fed by putting $ in BTC and that’s understandable but totally wrong. There are two aspects; one is sterilization (first) and the other is regulation (second). Lets’ look.

Put simply, the Fed finds Bitcoin useful for keeping inflationary dollars locked up in BTC and out of the pockets of ordinary people. That’s called ‘sterilization of capital’. Because BTC is purely speculative and is not primarily used for payment processing, Bitcoin aids the Fed in sterilizing capital and calculating money supply M2, to hide many billions in inflationary dollars that would otherwise appear in M3 (“all money”) if M3 were were still calculated. (It’s not, by design.)

Fact is, BTC is not used like currency in any true sense, is not currency, and is not used as a payment processor. BTC can only process seven transactions per second (maximum) when credit cards can process millions; bitcoin plays only a tangential role in payment processing; and Bitcoin is primarily a speculative vehicle. As such I can write with absolute authority that the Fed has no issue seeing billions in inflationary capital locked up in BTC. In fact, the Fed was more than chuffed when BTC gained popularity to assist the Fed in the task of sterilization of capital and — believe it or not — that’s one reason (in part!) US fund rates are still nominally positive.

Bitcoin’s weakness has been identified by the Fed as being btc’s reliance on “stablecoin” components. Bitcoiners strenuously object to calling stable coins ‘components’ since the only ‘component’ of blockchain is blockchain. Instead, let’s say stablecoins provide the infrastructure and underlying liquidity for the tradeability of Bitcoin. In plain terms, when Bitcoin poses any threat to USD hegemony and/or the USD sinks too low on the DXY (suggest 70-75) the Fed-Treasury can attack stable coins such as USDT to extinguish any proportion of BTC capitalization it so chooses. The US Treasury will then introduce the digital Fed dollar to bring Bitcoin under control, and that’s what will happen. Meanwhile, most BTC people have zero idea they are part of a huge conspiracy to defraud, and only believe they are ‘fighting the dollar’.

Those who know me and my writing know I have been opposed to USd hegemony for eons, because the former United States maintains its aggressive Empire courtesy those dollars. But BTC is not the way to dismantle USd hegemony regardless of what Mex Keiser and Raoul Pal may say..

Understanding the how and why about BTC and when and why it will correct, is another matter and exceedingly complex, as any good proto-ponzi mandates. I’ve been trying to get beyond the polarized fanatics populating both camps “for and against” bitcoin with little success and the emotion in both camps runs very high.

Finally, it’s unclear how the new alleged regime may enforce environmental policy, if at all. If Biden-Harris achieve power they are likely to resume Obama’s agenda on the environment, which will spell trouble for Bitcoin.

end

Bill Miller sees Bitcoin exploding higher due to corporate cash inflows. In reality Bitcoin is rising because of huge outflows of cash in that omnibus bill passed.  Kickbacks are always returned to the uSA crooks via bitcoin.

(Miller/zerohedge)

Bill Miller Sees Bitcoin Exploding Higher Amid “Torrent” Of Corporate Cash Inflows

WEDNESDAY, JAN 06, 2021 – 9:45

Back in late November, and well before the current explosive phase in bitcoin’s price was a reality, we tweeted a very simple argument for why we thought the cryptocurrency would surge: following in the footsteps of MicroStrategy, which took the innovative route of converting most if not all of its spare cash into bitcoin, we predicted that many more companies would follow suit in doing just that, leading to torrent of new cash chasing after bitcoin (which is precisely what happened).

We bring that up because this morning, none other than momo chaser extraordinaire investing legend Bill Miller said the surge of attention generated by Bitcoin’s frenzied rally could lead to far greater gains by – drumroll – encouraging corporate treasurers to use the cryptocurrency for diversification, or precisely what we tweeted nearly two months ago.

“If inflation picks up, or even if it doesn’t, and more companies decide to diversify some small portion of their cash balances into Bitcoin instead of cash, then the current relative trickle into Bitcoin would become a torrent,” the iconic head of Miller Value Partners LLC wrote in a blog post published Jan. 5.

A few thoughts on bitcoin, the best performing asset category in 2020. At this writing, it is trading at over $31,000, up more than 50% since the middle of December. It has outperformed all major asset classes over the past 1, 3, 5, and 10 years.

Its market capitalization is greater than JP Morgan and greater than Berkshire Hathaway and yet it is still very early in its adoption cycle. The Fed is pursuing a policy whose objective is to have investments in cash lose money in real terms for the foreseeable future.

Companies such as Square, MassMutual, and MicroStrategy have moved cash into bitcoin rather than have guaranteed losses on cash held on their balance sheet. Paypal and Square alone are estimated to be buying on behalf of their customers all of the 900 new bitcoins mined each day. Bitcoin at this stage is best thought of as digital gold yet has many advantages over the yellow metal. If inflation picks up, or even if it doesn’t, and more companies decide to diversify some small portion of their cash balances into bitcoin instead of cash, then the current relative trickle into bitcoin would become a torrent.

As Bloomberg notes, picking up on what we said last week, “Miller joins a growing but still small chorus of names suggesting Bitcoin could be a part of corporate treasuries, something a handful of companies have already taken up. MicroStrategy’s Michael Saylor set the trend off last year when he said the Federal Reserve’s relaxing of its inflation policy helped convince him to invest the enterprise-software maker’s cash into Bitcoin. Long-time crypto advocate Jack Dorsey’s Square Inc. has put about $50 million in Bitcoin.”

To be sure, Miller’s has been a fan of bitcoin since 2014, saying back then that he owned the coin through his personal investments. He concluded his essay by directly challenging Warren Buffett, who in the aftermath of the whole Dave Portnoy fiasco, has become a whipping boy for a new generation of trader: “Warren Buffett famously called bitcoin “rat poison.” He may well be right. Bitcoin could be rat poison, and the rat could be cash.”

Where bitcoin goes next is anyone’s guess:  In a stealthy hitpiece which we mocked on Monday, JPMorgan tried to spark a selloff by listing all the reasons why bitcoin should tumble even though it may hit $100,000. A few hours later, it surged another $3,000, hitting a record high on Wednesday, crossing above $35,000 for the first time. The coin gained more than 300% last year and is up about 20% since the start of 2021. It was up 3.7% to around $35,049 as of 8:03 a.m. in New York.

One possibility where bitcoin could go comes from legendary trader Paul Tudor Jones, who last May proposed a gold-parity valuation, according to which there is some $42 trillion in cash sloshing around, the value of above ground gold at $12 trillion is about 20x greater than the market cap of bitcoin today, which at its all time high is still just $640 billion.

In short, if the value of bitcoin were to reach parity with gold, the price of one bitcoin would have to increase to $$650,000 from its current price of $34,000.

END

good one

What happened to Knights Templar’s wealth

special thanks from Steve B. for this video
How long before the pharoahs delete?

https://youtu.be/VKuewttBEZg

regards

Attachments area
Preview YouTube video Switzerland Templar Origin of Swiss Bank & BIS Gold

good one

What happened to Knights Templar’s wealth”

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

i) Chinese yuan vs USA dollar/CLOSED DOWN AT 6.4544 /

//OFFSHORE YUAN:  6.4414   /shanghai bourse CLOSED UP 22.20 PTS OR .63%

HANG SANG CLOSED DOWN 42.44 PTS OR .15%

2. Nikkei closed DOWN 109.29 POINTS OR 0.38%

3. Europe stocks OPENED ALL GREEN/

USA dollar index DOWN TO 89.31/Euro RISES TO 1.2341

3b Japan 10 year bond yield: RISES TO. +.02/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 102.93/ 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:: 49.95 and Brent: 53.87

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

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

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

3h Oil 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 -.55%/Italian 10 yr bond yield UP to 0.58% /SPAIN 10 YR BOND YIELD UP TO 0.06%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.13: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.62

3k Gold at $1935.65 silver at: 27.35   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 49/100 in roubles/dollar) 73.73

3m oil into the 49 dollar handle for WTI and 53 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 102.93 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 .8769 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0821 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year RISING to 0.55%

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

4. USA 10 year treasury bond at 0.997% early this morning. Thirty year rate at 1.792%

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

6.  TURKISH LIRA:  UP  TO 7.34..

Treasury Yields, Bitcoin And Small Caps Soar; Tech And Dollar Tumble On Possible Georgia Blue Sweep

WEDNESDAY, JAN 06, 2021 – 8:03

Bond yields, bitcoin and small cap stocks surged while tech stocks and the dollar tumbled on Wednesday on the prospect of more stimulus and tougher tech regulation if Democrats take control of the U.S. Senate following a run-off election in Georgia. Stocks in Europe rose and those in Asia were mixed as traders digested what’s next for global politics. Despite all the turmoil, S&P futures were surprisingly flat, trading down just -0.2% at last check.

The real action however was below the surface with Nasdaq futures sinking 1.5% with Apple, Microsoft, Intel and Cisco all falling up to 2% or more in U.S. pre-market trading as investors priced in the prospect of a Democrat-controlled Senate that could lead to tighter regulations on technology mega-caps…

… however, with a flood of new reflationary stimulus on deck, small caps soared with Russell futures hitting a new all time high.

”The market is pulling in implications of what a Democrat win would mean for the economic recovery,” said Peter Rosenstreich, head of market strategy at Swissquote Bank. “Expected increase in fiscal stimulus and infrastructure spending would bode well for cyclical or growth stocks. Tech stocks may not benefit as much, and that may have something to do with their stretched valuations.”

Bets on more stimulus pushed 10Y Treasury yields above 1% for the first time since March as investors rotated out of technology and into cyclical stocks. German bond yields followed Treasuries to hit their highest in almost five weeks.

“The market is pretty much responding as you would expect in terms of the probable Democrat victory, the 10-year being the biggest standout,” said Derek Halpenny, MUFG’s head of research for EMEA global markets, pointing to the inflationary impact of more stimulus.

In Treasuries, if lawmakers approved additional stimulus spending, it would mean more bond issuance and higher yields on longer-maturity Treasuries. Traders now see U.S. inflation averaging just over 2% per year over the coming decade, the highest level since 2018. But for the stock market, there’s a risk that a unified, Democrat-controlled Congress would portend higher corporate taxes and more regulation. Technology companies dominate U.S. benchmarks, giving the industry an outsized importance.

“What looks like good news for the U.S. economy is probably bad news for the relative performance of U.S. stocks,” said Paul O’Connor, head of multi-asset at Janus Henderson Investors.

* * *

For those who missed last night’s action, Raphael Warnock, a Baptist preacher from the church of Martin Luther King Jr., beat Republican incumbent Kelly Loeffler to become the first Black senator in the history of the deep South state. Jon Ossoff, a documentary filmmaker who at 33 would become the Senate’s youngest member, held a narrow lead over incumbent David Perdue in the other race, with a final outcome not expected until later on Wednesday at the earliest. At last check, the two were locked in a dead heat with some absentee votes yet to be counted and as many as 17,000 military and overseas ballots due by Friday.

Along with a narrow majority for Democrats in the House of Representatives, a “blue sweep” of Congress could usher in larger fiscal stimulus and pave the way for President-elect Joe Biden to push through greater corporate regulation and much higher taxes.

Analysts generally assume a Democrat-controlled Senate would unleash a debt tsunami and thus be positive for economic growth at least in the short term, while boosting reflationary assets, and negative for duration assets such as bonds as well as the dollar as the U.S. budget and trade deficits will explode.

“A Democrat clean-sweep should lift expectations for U.S. growth, with fairly obvious consequences for bond yields,” said Paul O’Connor, head of multi-asset at Janus Henderson Investors. “For equities the implications are more complicated, with the anticipated GDP boost being somewhat offset by the prospect of higher taxes and greater regulatory intrusion.”

World stocks gained 0.28%, towards recent record highs, and European stocks rose 0.87%. European equities rallied after a choppy start, with the Stoxx 600 rising 0.9%, and the FTSE 100 markedly outperforming with gains of ~2.3%. Banks, oil & gas and construction names are the best performers. European tech sector lagged as Nasdaq futures extend Asia’s losses, snapping through Monday’s lows.

Asia’s benchmark stock gauge swung between gains and losses as traders awaited the outcome of Senate runoff elections in Georgia, with the broader MSCI Asia Pacific Index little changed after an eight-day winning run. Equities in Southeast Asia and Australia were among the biggest losers. Benchmarks in the Philippines and Indonesia slid more than 1% on concerns over a potential resurgence in coronavirus infections and tighter government control measures. “Markets are letting go gains as races in Georgia are running tight, creating much political uncertainty that markets tend to dislike,” said Margaret Yang, a strategist at DailyFX. “If Republicans win one of the two seats, it may hinder Biden’s ambition to push through a larger stimulus plan and infrastructure projects.” Technology and health care were the biggest losers among industry groups in Asia. Energy was the best-performing sector after Saudi Arabia surprised the market with a large cut in crude production. Chinese stocks rose. Internet giants Tencent and Alibaba climbed in Hong Kong, shrugging off President Donald Trump’s order banning U.S. transactions with eight Chinese software apps. In South Korea, a bout of foreign selling saw the benchmark Kospi index reverse early gains that propelled it beyond the 3,000 mark for the first time

In response to the imminent Blue Sweep and resultant money printing bonanza, cryptos exploded and Bitcoin traded above $35,000 for the first time in Asia on Wednesday, rising to a high of $35,879 and extending a rally that has seen the digital currency rise more than 800% since mid-March. The world’s most popular cryptocurrency crossed $20,000 for the first time ever on Dec. 16.

In rates, treasury futures rose off lows for the day, although cash curve broadly hold sharp bear-steepening move after Democrats captured one seat in the Georgia runoff elections and await results on the remaining seat to secure a narrow majority. Treasury 10-year yields peaked at 1.034%, cheapest since March before settling back down to around 1.01% into early U.S. session, still cheaper by more than 5bp vs Tuesday’s close. The long- end led selloff aggressively steepened the Treasuries curve with 2s10s wider by nearly 5bp, 5s30s more than 3bp. Bund and gilt curves also bear steepened. Long-end treasuries traded ~4bps cheaper to bunds, 3bps cheaper to gilts. Peripheral spreads are marginally wider to core.

In FX, the dollar erased an intraday gain to fall 0.2% with the Bloomberg dollar index printing fresh lows for the week. “Underlying weakness of the greenback stays in place,” said Toshiya Yamauchi, chief manager for foreign-exchange margin trading at Ueda Harlow Ltd. in Tokyo. “The market needs to confirm the results of Georgia’s elections to determine trend of the dollar.”

The euro rose to as high as $1.2344, a level last seen in April 2018, while the yen hit a 10-month high of 102.57 to the dollar. The dollar hit its lowest in nearly six years against the Swiss franc. G-10 ranges are relatively narrow, but the broader trend of dollar weakness persists. NOK, AUD and NZD top the G-10 scoreboard. TRY rallies 0.8% against USD to lead gains in EM FX.

In commodities, oil prices extended gains, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed U.S. inventories fell last week. WTI futures rose to a high of $50.45 a barrel before trimming gains, having climbed 5% on Tuesday. Brent crude futures rose 0.49% to $53.86. Spot gold drifted higher, stalling near $1,959/oz. Base metals are in the green; LME copper outperforms with a ~1.8% gain.

Looking at the day ahead, the highlight will be the aforementioned joint session of Congress to count the electoral votes from the US presidential election. Otherwise, data highlights include the services and composite PMIs from Italy, France, Germany, the Euro Area, the UK, Brazil and the US, along with the preliminary CPI reading for December from France and Germany, as well as US data on November factory orders, and the ADP’s December employment report. Finally from central banks, the FOMC will be releasing their December meeting minutes, and Bank of England Governor Bailey will be speaking before the Treasury Select Committee.

Market Snapshot

S&P 500 futures down 0.3% to 3,708.25

Brent futures up 1.7% to $54.49/bbl

Gold spot up 0.3% to $1,956.57

U.S. Dollar Index down 0.2% to 89.30

Top Overnight News from Bloomberg

  • Democrats’ hopes of taking control of the U.S. Senate hung in the balance
  • Almost two months after President Donald Trump said he’s cutting off U.S. investment in companies tied to China’s military, confusion reigns on Wall Street over how to interpret his order. One certainty: Savers are losing billions
  • Saudi Arabia surprised the market with a large cut in crude production, an assertion of primacy over the global oil industry that came directly from the kingdom’s de-facto ruler

Quick look at key markets courtesy of Newsquawk

Asian equity markets traded cautiously with markets fully focused on the Georgia Senate Run-off results which has been a close contest in which the Democrat candidates have led for most the day which saw an early bout of weakness in US equity futures as some began to price in a potential blue wave and increased prospects of higher corporation tax, as well as tougher regulations on large tech, but with price action limited given that the race was still too close to call. ASX 200 (-1.1%) weakened with tech leading the broad declines across nearly all sectors aside from energy which benefited from the OPEC+ agreement whereby Russia and Kazakhstan are to raise output by a total of 75k bpd in February and another 75k bpd in March, which Saudi Arabia have overcompensated for with a voluntary 1mln bpd cut. Nikkei 225 (-0.4%) was tentative heading into the state of emergency decision due tomorrow with Japan said to eye a 1-month emergency for the Tokyo region and KOSPI (-0.7%) was initially buoyed after breaching the 3,000 level for the first time ever but then succumbed to the widespread caution. Hang Seng (+0.1%) and Shanghai Comp. (+0.6%) were indecisive with sentiment not helped after US President Trump signed a fresh executive order banning transactions with 8 Chinese software applications including Ant Group’s Alipay and Tencent QQ, while NYSE flip-flopped again and is reportedly considering reverting to the original plan for the delisting of Chinese telecom giants if they are confirmed to be part of the executive order banning firms with links to Chinese military. Finally, 10yr JGBs were subdued with price action stuck around the 152.00 focal point amid tepid 10yr JGB auction results which were mostly in line with the prior and alongside pressure in T-notes as the 10yr yield breached 1% with markets beginning to price in chances of a blue sweep which would increase prospects for greater stimulus measures and bond issuances.

Top Asian News

  • Gulf Arabs Agree to Restore Qatar Ties But No Word on OPEC Role
  • WHO Issues Rare Rebuke to China for Delaying Virus Team
  • Indonesia Tightens Curbs in Java, Bali as Hospitals Fill Up
  • Trump Targets Ant’s Alipay, WeChat Pay in Latest App Bans

Cash bourses in Europe trade higher across the board (Euro Stoxx 50 +0.9%) following on from a relatively mixed APAC session, but focus has very much been on the US Georgia Senate run-offs in order to determine the limits of the incoming Biden admin policy via Congress. Democrats are now set to control Congress in what marks a blue-sweep after Democrat Raphael Warnock and Jon Ossoff were called by major news outlets in early European hours. That would leave the split in the upper house at 50/50, giving Vice President(-elect) Harris the tie-breaking vote in the event of a deadlock – full analysis available here. In terms of implications for stock markets, markets bid up value vs growth as portrayed by the tech-heavy NQ (-1.7%) posting losses of almost 2% and the value-driven RTY (+1.3%) gaining almost 2% at one point – with the former also bearing the brunt of more stringent regulations in large-tech alongside the reflationary play from prospects of further stimulus. For context, the pre-market sees losses among Apple (-1.8%), Amazon (-1.9%), Google (-2.1%), FB (-2.4%), Netflix (-1.9%) whilst Tesla (+2.1%) sees gains on climate policy hopes. Back to Europe, gains in a post-OPEC Energy sector and Banks (amid the high yield environment) tower other sectoral performances, with the FTSE 100 (+1.4%) benefiting from the firm upside in two of its heaviest sectors. The IT sector meanwhile lags amid value being favours and alongside follow-through from the pre-market performance in tech behemoths. In terms of individual stories, the Travel & Leisure sectors warmly received reports that airlines flying into the UK will be made to ban passengers from boarding the aircraft if they do not have a negative COVID-19 test within a 72-hour window of departure – thus narrowing the chances of further cross-country travel bans.

Top European News

  • LSE Calls for Overhaul of Rules to Boost Listings, FT Says

In FX, any semblance of support or even upside impetus from higher Treasury yields has been swept aside along with the Democratic tide that is heading for Congress after the Georgia state run-offs that seem destined to result in Republican defeats, albeit by narrow margins. Indeed, the Greenback has fallen further amidst more almost all round selling on the same multiple reflation, fiscal and global growth regeneration factors that have been prevalent ever since polls predicted a landslide Biden victory in the 2020 Presidential Election and clean Blue sweep. However, the DXY has clambered of fresh multi-year lows and is holding above 89.000 within a 89.644-219 range ahead of ADP, the non-manufacturing ISM and FOMC minutes.

  • NZD/AUD – A new day draws to a close down under, but the Kiwi and Aussie have both probed different round number levels vs their US counterpart and swapped places in the pecking order as Aud/Nzd tops out above 1.0700 again in wake of slowdowns in Aussie and Chinese Caixin services and composite PMIs. Nzd/Usd is now hovering just shy of 0.7300 and Aud/Usd around 0.7800 awaiting more independent direction via trade and housing data on Thursday.
  • EUR – The next best major or benefactor of Buck weakness rather than anything Eurozone specific, as the Euro reclaims 1.2300+ status and eyes 1.2350 to the upside as opposed to decent option expiry interest at the 1.2300 strike (1.1 bn). In fact, Eurozone services PMIs and composites were largely underwhelming and German state CPIs still soft, while there is the spectre of another Italian political debacle following tomorrow’s coalition cabinet showdown – check out the headline feed at 9.38GMT for a primer.
  • CHF/GBP/CAD – All moderately firmer against the US Dollar as the Franc extends gains through 0.8800 towards 0.8760, Cable rebounds firmly from sub-1.3600 irrespective of the effective UK national lockdown and economic repercussions, and the Loonie consolidates post-OPEC+ gains alongside crude circa 1.2650 in the run up to Canadian trade and Ivey PMI releases on Thursday.
  • JPY – The G10 laggard as emergency status in Tokyo is extended following another record rise in daily cases of the coronavirus in Japan, while less contractionary PMIs were somewhat offset by a deterioration in consumer confidence. Usd/Jpy is still below 103.00 and looking technically weak nonetheless having tested 102.60.
  • SCANDI/EM – Eur/Nok has now managed an oil-powered breach of 10.4000 with additional momentum from firmer Norwegian credit and house prices, but Eur/Sek is still finding 10.0000 tough to overcome. Elsewhere, very familiar prudent, targeted and flexible monetary policy pledges from the PBoC have not really impacted the Cnh or Cny that are pivoting 6.4400 and 6.4500 respectively, but the Zar continues to underperform near 15.0000 post a fragile barely 50.0+ SA PMI and pre-stage 2 load shedding by Eskom.

In commodities, WTI and Brent front-month futures continue grinding higher in early European trade following somewhat of an overnight pause in the aftermath of the OPEC+ meeting. To recap, Russia and Kazakhstan will increase output by 75k BPD due to seasonality, but Saudi Arabia surprisingly announced it that will make additional, voluntary oil output cuts of 1mln BPD in February and March as a pre-emptive measure and has not asked any other country to join in. Oil prices unsurprisingly cheered the news with Brent almost hitting USD 54/bbl in the immediate aftermath, with prices also underpinned by a larger-than-expected draw in Private inventories (-1.7mln vs exp. -1.3mln). That being said, it begs to be asked what Saudi’s demand outlook is for the complex in order to voluntarily provide cuts of this magnitude. Nonetheless, the crude complex has continued to grind higher in European trade with Brent now eyeing USD 54.50/bbl to the upside. Elsewhere, precious metals trade on a firmer footing amid the reflationary play coupled with a softer Buck, with spot gold extending gains north of USD 1950/oz (vs. low USD 1941/oz) and spot silver inching closer to USD 28/oz (vs. low USD 27.205/oz). Finally Shanghai copper rose to the highest in almost eight years amid the hopes of swifter US stimulus coupled with the weaker Dollar. US Private Energy Inventories (bbls): Crude -1.7mln (exp. -1.3mln), Cushing +1.0mln, Gasoline +5.5mln (exp. +0.6mln), Distillate +7.1mln (exp. +2.4mln).

US Event Calendar

  • 7am: MBA Mortgage Applications
  • 8:15am: ADP Employment Change, est. 75,000, prior 307,000
  • 9:45am: Markit US Services PMI, est. 55.2, prior 55.3; 9:45am: Markit US Composite PMI, prior 55.7
  • 10am: Factory Orders, est. 0.7%, prior 1.0%; Factory Orders Ex Trans, prior 1.0%
  • 10am: Durable Goods Orders, est. 0.9%, prior 0.9%; Durables Ex Transportation, est. 0.4%, prior 0.4%
  • 10am: Cap Goods Orders Nondef Ex Air, prior 0.4%; Cap Goods Ship Nondef Ex Air, prior 0.4%
  • 2pm: FOMC Meeting Minutes

DB’s Jim Reid concludes the overnight wrap

Overnight the big news is the preliminary results of the two Georgia Senate runoff elections that will decide which party controls the Senate for the next two years. With 98% of the vote in, initial indications point to both Democratic candidates – Raphael Warnock and Jon Ossoff – winning their races, making Vice President-elect Kamala Harris the tie breaking vote in a 50-50 Senate. The New York Times model, which takes into account likely leanings of outstanding votes (the majority of which are in heavily Democratic counties), gives Warnock and Ossoff over a 95% chance of winning the two elections, while betting markets have followed suit. This would give Democrats control of the White House and both chambers of Congress, allowing President-elect Biden to enact more of his agenda. Such a result would make moderate Democratic Senators such as West Virginia’s Manchin and Montana’s Tester the likely swing votes in the Senate. Our US economists have indicated that a Democratic Senate would likely lead to another large fiscal stimulus package, possibly including some priorities of the new Administration such as infrastructure. They see that as a material upside to their GDP forecast, which they currently see rising 4.3% Q4/Q4 in 2021. Markets seem to be pricing in some of the election effects as well overnight with S&P futures falling -0.54%, while the USD has rallied slightly (+0.09%), but the bigger move is in US Treasuries. 10yr USTs are up +4.2bps to within touching distance of 1.0% for the first time since March.

Asian markets are also trading largely lower this morning with the Nikkei (-0.39%), Hang Seng (-0.39%) and Shanghai Comp (-0.17%) all down while the Kospi is posting a modest gain of +0.03%. The decline in the Hang Seng and Shanghai Comp is coming against the backdrop of sweeping arrests, including an American lawyer, under a national security law in Hong Kong. Local media reported that some 50 people were arrested and Antony Blinken, Biden’s nominee for secretary of state, said in a tweet that “The Biden-Harris administration will stand with the people of Hong Kong and against Beijing’s crackdown on democracy.” Meanwhile, President Donald Trump signed an executive order overnight banning US transactions with eight digital Chinese payment platforms including Ant Group Co.’s Alipay.

We also saw the final Asian December services and composite PMIs overnight which showed a modest improvement for Japan relative to the flash print with services at 47.7 (vs. 47.2) and the composite at 48.5 (vs. 48.0). Meanwhile, China’s Caixin services PMI was softer at 56.3 (vs. 57.9 expected) bringing the composite down to 55.8 (vs. 57.5 last month). Australia’s final prints for services (57.0 vs. 57.4) and the composite PMIs (56.6 vs. 57.90) were also a touch softer.

We have the rest of the global services PMIs today and their direction over the next few months will heavily rely on the vaccine roll-out. On this, we are generally quite optimistic on the logistics, even if there will be inevitable early teething problems, as many countries already have annual flu jab logistics in place. This will especially help those heavily using the Oxford/AZN vaccine which can be stored in a fridge like the flu vaccine. The U.K. could be the real trailblazer here as they are the first to use the Oxford jab and have one of the highest flu vaccination rates in the world. Yesterday we did a CoTD that showed global vaccination rates in the latest available flu season for over 65s. The U.K. and US are close to 70% and in the top three on this measure of the 31 countries we had data for. See the CoTD here.Yesterday the U.K. announced that it had now vaccinated over 1.3 million people of which around half were over 80 year olds taking the total to 23% of this cohort. Given the average age of covid fatalities is just over 80 we will surely see the impact of this in the fatality numbers over the next few weeks. The U.K. also announced that on official estimates as many as 2% of the population currently have covid (around 1.1m). So the U.K. is a contradiction between being the worst current breeding ground for the virus in the developed world, but potentially being the first (in at least the G20) to get herd immunity. See the table below for the latest vaccination numbers. We’ve shaded the countries with updated data over the last 24 hours.

Ahead of the results from Georgia, US equities stabilised yesterday following their poor start to the year, with the S&P 500 gaining +0.71% and the NASDAQ up a greater +0.95%. 20 of the 24 industry groups in the index were higher on the day, led by a sharp rise in energy stocks and material stocks as the reflation trade was back on. The anticipation of potential further stimulus and a strong print in the ISM manufacturing reading led to a selloff in rates, and by the close, yields on 10yr Treasuries were up +4.2bps to 0.955%. There was also a notable steepening in the yield curve too, with the 2s10s up +3.6bps at a 3-year high, which is a positive sign if you value the yield curve as a cyclical indicator. On the same theme, inflation expectations continued to rise as 10yr breakevens hit a fresh 2-year high of 2.03%. This rise in inflation expectations was given a bit of an implicit blessing from Fed President Mester, who said yesterday that the Fed may need to be more accommodative to get prices up to 2% and that she would not be “upset” if inflation rose to 2.5%. The latter comment showing how the central bank is embracing the new framework of average inflation targeting.

Against this backdrop, the dollar index declined further yesterday, falling another -0.48% to a fresh two-and-a-half year low. But the bigger moves were taking place in oil markets, where Brent crude (+4.91%) and WTI (+4.85%) both climbed to post-pandemic highs of $53.60/bbl and $49.93/bbl respectively, thanks to the news from the OPEC+ meeting that Saudi Arabia would make a voluntary cut in oil output of 1 million barrels a day in February and March. The move is seen as a preemptive strategy against further global lockdowns dampening demand through the end of the winter in the Northern hemisphere. Energy stocks responded positively to the news as mentioned, with the STOXX Oil & Gas index in Europe (+3.62%) and the S&P 500 energy group (+4.53%) rallying following the reports.

Back on US politics, today is actually another important one in the calendar because a joint session of Congress will be taking place later to formally count the Electoral College votes and declare the winner of the presidential election. Normally this is a procedural matter, but this year some Republican members in both the House and Senate have said they intend to object to the certification in a number of states. In practice, this won’t have any effect, since the Democrats control the House and numerous Republican Senators have also objected to the plan, but it will cause a delay in what is normally a fairly swift process as members in both chambers vote on the proposals. Vice President Pence will preside over the joint session but it is largely a ceremonial role, and it is unlikely he will be able to affect the outcome.

On the coronavirus, further lockdown measures were announced yesterday across a number of European countries to deal with the continued rise in cases. In Germany, the government extended the country’s lockdown until January 31, as expected, following a meeting between Chancellor Merkel and state premiers yesterday. Lockdown rules were also tightened in regions, with limits to nonessential travel and curbing private gatherings to just one person from another household, with children no longer exempt from the rules. Meanwhile both Italy and Ireland extended a number of their own restrictions, with the former implementing a “two guests per household” rule and the latter closing manufacturing and construction sites. Residents of Denmark saw the limit on public gatherings reduced from 10 to 5. Over in the UK, Chancellor Sunak announced a fresh £4.6bn package of measures to help businesses through the new lockdown announced on Monday.

With new lockdown measures being imposed in Europe, the equity moves were more muted, and the STOXX 600 fell -0.19%. In some countries where restrictions were tightened, bourses fell further such as the German DAX (-0.55%) and the Italian FTSE MIB (-0.52%). That said, European markets were catching up with the US selloff the previous evening, and in rates there was a similar move to the US, with 10yr bunds (+2.7bps), OATs (+3.0bps) and gilts (+3.6bps) all seeing yields move higher.

Looking at yesterday’s data, the ISM manufacturing reading in the US unexpectedly rose to 60.7 in December (vs. 56.8 expected), which was its highest reading since August 2018. The production index also rose to its highest since 2011, at 64.8, while new orders were up to 67.9 as well. ISM Factory prices paid came in at 77.6 (vs. 65.4 expected), which is the highest reading since Spring 2018 and up from the pandemic low of 35.3 in April. Outside of three months in 2018, the price paid index has not been this high since 2011. Other data similarly surprised to the upside, with German unemployment falling by a stronger than expected -37k (vs. +10k expected) in December, as November retail sales rose by +1.9% (vs. -2.0% expected).

To the day ahead, and the highlight will be the aforementioned joint session of Congress to count the electoral votes from the US presidential election. Otherwise, data highlights include the services and composite PMIs from Italy, France, Germany, the Euro Area, the UK, Brazil and the US, along with the preliminary CPI reading for December from France and Germany, as well as US data on November factory orders, and the ADP’s December employment report. Finally from central banks, the FOMC will be releasing their December meeting minutes, and Bank of England Governor Bailey will be speaking before the Treasury Select Committee.

3A/ASIAN AFFAIRS

i)WEDNESDAY MORNING/ TUESDAY NIGHT: 

SHANGHAI CLOSED UP 22.20 PTS OR .63%   //Hang Sang CLOSED UP 42.44 PTS OR .15%    /The Nikkei closed DOWN 109.29 POINTS OR 0.38%//Australia’s all ordinaires CLOSED DOWN 1.09%

/Chinese yuan (ONSHORE) closed DOWN AT 6.4544 /Oil UP TO 49.95 dollars per barrel for WTI and 53.87 for Brent. Stocks in Europe OPENED ALL GREEN//  ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.4544. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4414 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/USA

Trump signs executive order banning transactions with 8 Chinese apps

(zerohedge)

Trump Signs Executive Order Banning Transactions With 8 Chinese Apps, Including Jack Ma’s Alipay

TUESDAY, JAN 05, 2021 – 17:49

In a dramatic U-turn in US-China sentiment, which went from sheer euphoria following NYSE’s bizarre reversal late on Monday when the exchange announced it would not delist three Chinese telecom giants, sending their stocks – and the yuan – surging, to gloom just one day later when the NYSE flip-flopped on its flip-flop after a Bloomberg report that it was reverting to its original plan (unveiled just last Thursday) to delight Chinese shares (after an angry Steven Mnuchin expressed his “displeasure” to NYSE president Stacey Cunningham), moments ago hopes for a quick detente with Beijing were crippled further when Reuters reported that Trump – clearly intent on burning as many bridges with China as possible ahead in the next two weeks – signed an executive order banning transactions with 8 Chinese software apps, including Ant Group’s Alipay.

The report adds that Tencent Holdings Ltd’s QQ Wallet and WeChat pay will also be targeted, as will the apps CamScanner, SHAREit, VMate, WeChat Pay and WPS Office. The Executive Order has been tasked the Commerce Department in defining which transactions this will apply to, in other words it was rushed and meant to be more of a symbolic announcement than anything else.

The move is aimed at curbing the threat to Americans posed by Chinese software applications, which have large user bases and access to sensitive data, the official said.

Unfortunately for China’s richest man – Jack Ma – whose fall from grace in the past wo months is the stuff of legends, the latest Trump executive order is a double whammy for his Alipay, which is owned by Ant Group (the same company whose IPO was unceremoniously blocked by Beijing in the last minute), because as WSJ reports China’s regulators are “trying to get Jack Ma to do something the beleaguered billionaire has long resisted: share the troves of consumer-credit data collected by his financial-technology behemoth.”

Mr. Ma has little room to bargain after the business empire he has built over decades has landed in the crosshairs of regulators and even President Xi Jinping, partly reflecting Beijing’s concern that the flamboyant entrepreneur has been too focused on his business fortunes rather than the state’s goal of controlling financial risks.

Central to the crackdown on Ant Group Co., in which Mr. Ma is the controlling shareholder, is what regulators view as the unfair competitive advantage the company has over small lenders or even big banks through swaths of personal data harnessed from its payment and lifestyle app Alipay.

The app, used by more than a billion people, has voluminous data on consumers’ spending habits, borrowing behaviors and bill- and loan-payment histories. Which is precisely why Beijing wants to control the flow of information.

And now, in addition to the ongoing crackdown from Beijing, Jack Ma – who may or may not be missing but has certainly disappeared from the public spotlight – has Trump’s latest executive order to worry about. In response to this dual attack from both Beijing and Washington, Alibaba stock promptly responded:

It also means that his only possible recourse would be the friendly treatment from the Biden administration, something which considering China’s extensive “relationship” with Hunter Biden, will be forthcoming shortly.

END

CHINA

Former head of Chinese financial giant Lai sentenced to death for stealing mega amounts of money

(zerohedge)

Former Head Of Chinese Financial Giant Sentenced To Death

TUESDAY, JAN 05, 2021 – 18:05

As CNBC runs interference on behalf of the CCP, with host David Faber insisting that Jack Ma isn’t “missing”, but rather “laying low”…

…China’s courts have just offered up the latest example of just how little the Party cares about preserving human dignity and life. In keeping with China’s heavy handed punishments against public corruption, a former chairman of one of the country’s top 4 state-controlled asset managers was sentenced to death on Tuesday over allegations he accepted 1.8BN yuan (roughly $277M).

Lai Xiaomin

The official’s name is Lai Xiaomin, and he is the former president of China Huarong Asset Management, one of the most recognizable financial firms in the country. Authorities allege that over a decade (between 2008 and 2018) some 1.79 billion yuan was siphoned out of the company by Lai and others with whom he colluded.

The 58-year-old former local party chairman and PBOC supervisor was sentenced by the Tianjin No 2 Intermediate People’s Court after he confessed to a range of charges including taking bribes, embezzlement, corruption and – get this – bigamy,according to Chinese newswire Xinhua.

In addition to his death sentence, the court said all his assets would be seized by the state.

Lai served as chairman of Huarong until he was arrested in 2018 as an investigation into his alleged embezzlement and self-dealing ramped up.

Though the timing (especially considering what’s going on with Ma) is certainly curious, the harsh sentence isn’t exactly a surprise. Xiaomin, a former member of the Communist Party, gave a thorough televised confession on state broadcaster CCTV. Like Xiaomin, Ma is also a CCP member. During the broadcast, footage was aired of cash-stuffed safes and cabinets in a Beijing apartment allegedly belonging to him.

China has a long history of ‘disappearing’ officials who run afoul of the party. Lai isn’t the only senior Party official to be felled by bribery charges: Back in 2019, the head of Interpol was “disappeared” by the CCP before resurfacing in a Chinese court where he also faced bribery charges.

During his TV confession, Xiaomin said he didn’t spend even one single penny of the stolen money, and would instead be giving it all back (somehow, we suspect this bit might verge into fabrication).

The court statement highlighted the timing of Lai’s crimes, most of which it said were committed after the 2012 Communist Party congress – when Xi Jinping took power and started an unprecedented crackdown on corruption. Lai had shown “no regard for the law and was extremely greedy”, the court statement said.

“Most of his crimes were committed after the 18th congress and [he] was one of those typical cases [that] show no restraint, no desire to stop and continue to run the opposite course [against party orders],” it said.

The court statement highlighted the timing of Lai’s crimes, most of which it said were committed after the 2012 Communist Party congress – when Xi Jinping took power and started an unprecedented crackdown on corruption. Lai had shown “no regard for the law and was extremely greedy”, the court statement said.

“Most of his crimes were committed after the 18th congress and [he] was one of those typical cases [that] show no restraint, no desire to stop and continue to run the opposite course [against party orders],” it said.

Prosecutors peppered their argument with myriad lurid details. According to the state’s evidence, Xiaomin referred to the apartment where he kept the money as the “supermarket”, which he visited regularly to deposit cash. The court labeled the size of the bribes “extremely large”, and insisted that the magnitude of the theft required the harshest punishment possible.

He initially pleaded guilty to the charges in August.

END

CHINA/USA

This should be interesting:  China arrests a USA lawyer in Hong Kong during the massive crackdown. His name  John Clancey.  Big question now is how will the NBA deal with China?.

(zerohedge)

China Arrests US Lawyer During “Massive Crackdown” In Hong Kong

TUESDAY, JAN 05, 2021 – 23:18

Update 11:00pm ETIn what would be a shocking development, Bloomberg reports that during its “massive crackdown” purging countless local activists and politicians, the Hong Kong police – i.e. China – has arrested American Lawyer, John Clancey, using as a pretext the National Security Law, which everyone warned China would use as strawman to crack down on Hong Kong citizens and activists. Well, it now appears that the emboldened Beijing – which is delighted by the ascent of pro-China pushover Joe Biden to the White House  – is also using that law to arrest American citizens.

  • H.K. ARRESTS AMERICAN LAWYER JOHN CLANCEY, COLLEAGUE SAYS
  • CLANCEY ARRESTED UNDER NATIONAL SECURITY LAW: COLLEAGUE

In response, Biden’s nominee for Secretary of State Anthony Blinken sent out a harshly worded tweet, warning China that the “Biden-Harris administration will stand with the people of Hong Kong and against Beijing’s crackdown on democracy.”

We eagerly await to see just what the Blinken Biden administration will do, besides tweeting angrily in China’s general direction, to secure release of an American citizen unjustly arrested by Chinese proxies in Hong Kong.

*  *  *

Earlier: “Massive Crackdown”: Hong Kong Police Arrest Dozens Of Politicians & Activists

2021 is less than a week old and already Beijing is ramping up its efforts to suppress what’s left of the pro-democracy opposition in Hong Kong. Right now, China hawks are preoccupied right now by a number of issues: the disappearance of Jack Ma (note: CNBC claims the Alibaba founder is just “laying low”), Beijing’s refusal to allow international investigators inside the Wuhan Institue of Virology and, finally, the CCP’s abusive treatment of China’s Uyghur Muslim minority.

Now, less than two months after the last 19 members of the HK LegCo’s pro-democracy opposition quit en masse over Beijing’s demands that they swear a loyalty oath to uphold the new national security law and the supremacy of the CCP, Hong Kong police have rounded up dozens of pro-democracy activists. The arrests – described by western journalists as a “massive crackdown” – essentially confirm what many feared: all pro-democracy activists who haven’t escaped Hong Kong will likely face arrest and imprisonment.

According to various media reports, police are rounding up dozens of pro-democracy politicians and activists.

With at least two student leaders – including Joshua Wong – already heading to prison, Wednesday’s arrests mark the biggest crackdown under the new national security law, according to the NYT, one former opposition lawmaker was participating in a live video chat when he got the knock at the door.

A twitter account run by Wong’s supporters claimed that his house was raided during the sweep with the arrests.

The alleged offenses also underscored government officials’ efforts to weaken any meaningful opposition in the city’s political institutions. Among those arrested were at least six former Legislative Council members, a number of district councilors — a hyperlocal elected position dominated by pro-democracy figures — and several activists. They included figures who had called for aggressive confrontation with the authorities and those who had supported more moderate tactics.

According to social media pages belonging to some of those arrested, the activists were accused of trying to “subvert state power”. The charges were tied to their participation in the informal LegCo vote held over the summer.

An informal primary election for the LegCo held in July delivered an uncomfortably large margin of victory to the pro-Democracy candidates. It’s widely believed this vote deeply bothered Beijing, possibly prompting it to accelerate its crackdown on HK, which once functioned as a that once functioned as an autonomous city state. With its political independence now in tatters, any pro-democracy activists who haven’t already left the city will probably be on the next train or plane out – unless they’re detained first.

But an even bigger question: With Beijing’s crackdowns growing increasingly brazen, how will American institutions like the NBA continue to justify doing business in China?

END

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues

CORONAVIRUS UPDATE/CHINA/GLOBE

China Finds 63 COVID Cases, Orders First Lockdown In Hebei Since June; EU Approves Moderna Vaccine: Live Updates

WEDNESDAY, JAN 06, 2021 – 7:30

Summary:

  • Hebei on lockdown
  • EU regulator approves Moderna vaccine
  • China sees biggest outbreak since June
  • 63 new cases found in Hebei
  • Tokyo reports new record
  • Japan state of emergency coming
  • Serbia starts giving “Sputnik V”
  • Iran records 82 deaths
  • Israel tightens lockdown

* * *

Just as the American press (including, notably, the NYT) was praising China’s heavy handed response to the original outbreak of SARS-CoV-2, public health officials in Hebei, a province in northern China near Beijing, have imposed the first lockdown there since the summer after 60+ new cases were confirmed in a single day.

Authorities in the northern province of Hebei confirmed 63 new local infections on Tuesday, the highest daily tally in months. It prompted China’s CDC to raise the alarm warning about a new outbreak. Among the confirmed cases, 19 were reported in the provincial capital of Shijiazhuang and one was found in the city of Xingtai, both about 300 kilometers (or 186 miles) southwest of Beijing.

Of those cases, Hebei confirmed that 20 were locally transmitted while 43 were asymptomatic. The province hasn’t recorded any locally transmitted infections since June.

The latest flareup in China arrives as Americans are preoccupied with the Georgia Senate runoff, and myriad other human rights-related issues in China, like the systemic abuse of Uyghurs from China’s far-flung Xinjiang Province. Typically, Chinese media insinuates that flareups like this are caused by contaminated packaging on imported foods, like meat and seafood (outbreaks at meatpacking plants have been disastrously common not just in the US, but in Europe, Asia and South America as well).

According to a report in a local paper, Ma Xiaowei, the director of the National Health Commission, was sent by Vice-Premier Sun Chunlan to Hebei to direct the province’s “warlike” operations to suppress the virus. Media reports claime the province was facing lockdown conditions.

“Right now, Hebei faces a serious situation to get the pandemic under control and our responsibilities are heavy,” Ma was quoted as saying while presiding over a meeting with Hebei government officials on Tuesday.

Passenger train service to Shijiazhuang, the largest city in the province, has already been suspended, and Ma stressed the need to step up control over population movement to ensure people from high-risk zones in Shijiazhuang didn’t leave and mix with those from low-risk zones. Hebei Communist Party secretary Wang Dongfeng said on Tuesday the province had locked down key villages and neighbourhoods to “effectively prevent the spread of the pandemic” and safeguard neighbouring Beijing.

The first identified case of the outbreak was a 61-year-old woman in Xiaoguozhuan who was confirmed infected on January 2. It is not known how she contracted the virus.

Elsewhere in Asia, Tokyo reported just under 1.6K new cases, a new record, as authorities prepare to declare a state of emergency that would include not just Tokyo, but neighboring Chiba, Kanagawa and Saitama prefectures.

Starting on Friday, the Tokyo Metropolitan Government will ask restaurants and bars to close by 2000 local time, shortening business by two hours compared to the current request.

Back in the US, as a backlog of COVID cases confirmed over the holidays starts to unwind, new cases are moving back above 200K/day.

Thanks in large part to California, the American west is currently the hardest hit region as far.

Here’s a breakdown of the other big COVID news from overnight and Wednesday morning:

  • Serbia started giving Sputnik V vaccines on Wednesday, almost two weeks after immunizations began with Pfizer-BioNTech shots on Dec. 24 (Source: Bloomberg).
  • Iran recorded 82 fatalities in the last 24 hours, it lowest daily toll since June 13, which raised the total to 55,830. The number of known infections rose by 6,283 to 1.26 million, the Health Ministry reported (Source: Bloomberg).
  • Ireland recorded 921 virus hospitalizations on Wednesday, exceeding the first-wave peak of 881. The government is set to lay out extra restrictions later in the day, including the closure of most construction sites and schools for a month, adding to what’s already one of the toughest lockdowns in Western Europe (Source: Bloomberg).
  • Israel will tighten lockdown restrictions in a bid to reverse a spike in infections as vaccine supplies dwindle. The cabinet voted to close all schools and non-essential businesses for two weeks, beginning midnight Thursday. Airline travel will be permitted only for those who purchased tickets before (Source: Bloomberg).

Finally, in Europe, Germany saw its daily confirmed deaths top 1K for only the second time, and the EU’s drug regulator, the European Medicines Agency, has just approved Moderna’s COVID vaccine for emergency use.

end
Michael Every….

Rabobank: Can One Model What Is Going To Happen Today?…. No

WEDNESDAY, JAN 06, 2021 – 9:15

By Michael Every of Rabobank

Déjà Blue

An economist once said to me “We don’t look at politics because we can’t model it.” As Trotsky once said to the world, “You may not be interested in war, but war may be interested in you.” And the same runs true for politics. Because markets are going to be all politics all day, and for many days to come.

Let’s start with Georgia. After a presidential election with a nail-bitingly close result for Biden and persistent allegations of voting irregularities from the Trump camp, the two senatorial races have produced a slim victory for both Democrats, leading to a twin Blue victory…and the same Republican allegations of ‘dirty’ voter rolls, poll watchers being blocked, voting machines going down in Republican counties, new mail-in votes appearing, vote counts being stopped in key areas, generic shenanigans/sour grapes, etc. Shall we call it Deja Blue?

One notable difference from 3 November was that Lin Wood’s “Space alien ninja reverse vampires run the world so don’t bother voting” antic depressed Republican turnout; so did not giving people USD2,000 checks when 75% of people surveyed wanted them; and apparently so did the GOP strategy not to embrace Trumpist working-class populism, or Trump himself until the last possible moment, while instead trying to recapture the lost white suburban vote.

For markets, ‘blue’ is the operative word. They had –like the GOP– presumed the two Georgia seats were in the bag, and only now enter a world where presumptions of US political gridlock go out the window and the government might actually be in the position to do something. Markets don’t like that when it involves anything except dolling out corporate bailouts. For the full fiscal/monetary implications, please see this note from Philp Marey, but expect unhappy equities (“More state spending and higher taxes!”), higher bond yields (“US fiscal reflation!”), and a bigger bid for the likes of Bitcoin (“CTRL-P USD!”).

On the latter, I must interject that cryptocurrency is an entirely *political* play. The market is suddenly full of naive neoclassical economists who can’t model politics who are now embracing elements of Austrian economics without wanting to accept their whole intellectual package. Let’s do the heavy lifting for them then: if one believes Bitcoin is going to soar, then one must also believe the entire fiat system, including US geopolitical hegemony, is going to ultimately collapse. How bullish for just about everything else, right? Talk about “disruption”! And who still has all the biggest guns and jails before that happens? What did the Fed do to gold in the 1930s? On which further note, the first ‘Mad Max’ film was set all the way in the future in….2021. At what point this year will it be acceptable to walk the streets in a combination of studded leather hot pants and a bondage facemask shouting “Gasoline!”? (Some might say it already is – if one was allowed to leave the house while under lockdown.)

Meanwhile, 50 democracy activists have been arrested in Hong Kong for “subversion” under its National Security Law. Most are lawyers, and one is a US citizen. Let’s see how the hegemon reacts: Chinese state banks are already selling CNY to send a “we don’t want too strong a currency” message: might there be risks of a political sting too? (Sidebar: it took a Hong Kong journalist to reveal the EU-China investment deal details won’t be released until mid-January: no transparency was available from the EU side, which has just been embarrassed by these arrests. Rictus grins all round for AM, EM, and VDL no doubt.)

Of course, we aren’t done with politics yet. With the US House narrowly Blue, and the Senate too, today Congress hears and approves the Electoral College votes, so selecting the next president. By precedent this should be a formality: Joe Biden won the majority of the Electoral College, and will officially become President Elect. However, there is 19th century precedent for this process to get wilder.

Around 12 US senators and 130 Representatives are going to officially object to the election results from at least six disputed states. That will, at the minimum, see the House and Senate split off for a two-hour debate before a vote to sustain or reject the objection. Of course, neither the House nor the Senate will sustain an objection to the vote count, so this is all political theatre –albeit embarrassing to Biden– unless this debates drags on to 20 January, after which things get really complicated, constitutionally speaking. (Acting President Pelosi, anyone?) So will this be one two-hour debate, or one for each state, or, as some claim, one for each individual *elector* (20 in Pennsylvania, for example)? If so, this *could* become a massive filibuster.

Also consider what President Trump just released:

The Vice President and I are in total agreement that the Vice President has the power to act. The November 3rd election was corrupt in contested states, and in particular it was not in accordance with the Constitution in that they made large scale changes to election rules and regulations as dictated by local judges and politicians, not by state legislators. This means it was illegal. Our Vice President has several options under the US ConstitutionHe can decertify the results or send them back to the states for change and certification. He can also decertify the illegal and corrupt results and send them to the House of Representatives for the one vote for one state tabulation.

In short, Trump claims (and constitutional lawyers agree) the VP *could* throw the cat among the political pigeons and end up taking this to a contingent election decided in the House of Representatives, where Trump holds a clear majority of state delegations. Or, we might see the dodge of Congress agreeing to Senator Cruz’s request for a 10-day delay in the approval of the election results to allow for an emergency audit in swing states,…which would then open up a whole new can of worms as it would allow state legislatures more time and greater legitimacy to decertify their results. (And being ultra-cynical, after the Georgia result could the Establishment GOP be more amenable than they were last week? Probably not.)

Can one model what is going to happen today? No. The greatest likelihood is just a major case of sour grapes; but the tail risks are potentially something more disruptive. So, try this, Mr. Market:

  • If today proceeds smoothly, we get a “Blue Wave(ette)” with the slimmest Democratic control of all three branches of government. (And the Republican Party is likely to be co-opted into a pure Trumpist force going forwards that markets will hate, or ripped in two so that Democrats have an easy future run);
  • Mike Pence *could* open a political can of worms few want to even consider, with massive related uncertainty; and yet
  • That would be the only way to end up with the gridlocked government apparently so desired!

In short, there seems no happy ending here the way some have been pricing for. What’s a market to do? Probably blink in confusion and buy Bitcoin, right?

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 WEDNESDAY morning 7:00 AM….

Euro/USA 1.2341 UP .0043 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 102.93 UP 0.234 (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 1.3616   DOWN   0.0008  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2677 DOWN .0002 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  WEDNESDAY morning in Europe, the Euro ROSE BY 43 basis points, trading now ABOVE the important 1.08 level RISING to 1.2341 Last night Shanghai COMPOSITE UP 22.20 PTS OR .63% 

//Hang Sang CLOSED UP 42.44 PTS OR .15% 

/AUSTRALIA CLOSED DOWN 1,07%// EUROPEAN BOURSES ALL GREEN

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 42.44 PTS OR .15% 

/SHANGHAI CLOSED UP 22.20 PTS OR .63% 

Australia BOURSE CLOSED DOWN 1.07% 

Nikkei (Japan) CLOSED DOWN 109.29  POINTS OR 0.38%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1936.30

silver:$27.40-

Early WEDNESDAY morning USA 10 year bond yield: 0.998% !!! UP 4 IN POINTS from TUESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.792 UP 8  IN BASIS POINTS from TUESDAY night.

USA dollar index early WEDNESDAY morning: 89.31 DOWN 13 CENT(S) from  TUESDAY’s close.

This ends early morning numbers WEDNESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  WEDNESDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.02% UP 0 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.02.%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.04%//DOWN 0 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.57 DOWN 0 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 53 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.55% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.12% 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 WEDNESDAY

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

Euro/USA 1.2279  DOWN     .0020 or 20 basis points

USA/Japan: 103.30 UP .622 OR YEN DOWN 62  basis points/

Great Britain/USA 1.3581 DOWN .0046 POUND DOWN 46  BASIS POINTS)

Canadian dollar DOWN 24 basis points to 1.2699

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed DOWN AT 64618    ON SHORE  (DOWN)..

THE USA/YUAN OFFSHORE:  6.4550  (YUAN DOWN)..

TURKISH LIRA:  7.30  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.02%

Your closing 10 yr US bond yield UP 9 IN basis points from TUESDAY at 1.049 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.2699 UP 12  in basis points on the day

Your closing USA dollar index, 89.70 down 26  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 WEDNESDAY: 12:00 PM

London: CLOSED UP 241.40  3.65%

German Dax :  CLOSED UP 266.61 POINTS OR   1.95%

Paris Cac CLOSED UP 81.35 POINTS 1.46%

Spain IBEX CLOSED UP 271.90 POINTS or 3.36%

Italian MIB: CLOSED UP 572.74 POINTS OR 2.58%

WTI Oil price; 50.78 12:00  PM  ES5

Brent Oil: 54.57 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    73.99  THE CROSS LOWER BY 0.21 RUBLES/DOLLAR (RUBLE HIGHER BY 21 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.54 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 :  50.53//

BRENT :  54.19

USA 10 YR BOND YIELD: … 1.036..up 8 basis points…

USA 30 YR BOND YIELD: 1.813 up 10 basis points..

EURO/USA 1.2325 ( UP 26   BASIS POINTS)

USA/JAPANESE YEN:103.04 DOWN .351 (YEN UP 35 BASIS POINTS/..

USA DOLLAR INDEX: 89.41 DOWN 3 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3609 DOWN 17  POINTS

the Turkish lira close: 7.31

the Russian rouble 73.97   UP 0.24 Roubles against the uSA dollar. (UP 24 BASIS POINTS)

Canadian dollar:  1.2670 UP 6 BASIS pts

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

The Dow closed UP 437.80 POINTS OR 1.44%

NASDAQ closed DOWN 78.17 POINTS OR 2.22%


VOLATILITY INDEX:  25.07 CLOSED DOWN .27

LIBOR 3 MONTH DURATION: 0.237%//libor dropping like a stone

USA trading today in Graph Form

Big-Tech & Bonds Battered But Bitcoin Bid On ‘Blue Wave’, Gold Pumped’n’Dumped

Tyler Durden's Photo

BY TYLER DURDEN
WEDNESDAY, JAN 06, 2021 – 16:05

Well, that was quite a day!!

As it became clear the Republicans were losing the Georgia race, early this morning Bill Blain noted earlier that he was pinged awake by an American chum:

“This is bad in so many ways that people don’t yet realise. America’s second civil war has now officially begun.”

Blain added that this was from a senior Republican not given to hyperbole.

After a major divergence overnight as Georgia signaled a ‘blue wave’ loomed (Reflation trade – Small Caps up, Nasdaq down), stocks soared out of the gate as soon as the cash market opened (and Schumer promised $2000 checks for all). But that all fell apart as scenes of protests in DC sparked major selling. The S&P is back to unchanged YTD and Nasdaq down 2% while Small Caps are up over 4% YTD…

Tech stocks were the only sector to end red today… despite the utter chaos in DC?… but financials were best…Energy names remain best in 2021 for now.

Source: Bloomberg

Banks love Bidenomics and the Blue Wave…

Source: Bloomberg

FANG Stocks tumbled to lowest close since Thanksgiving

Source: Bloomberg

The Small Caps-Big-Tech rotation surged up to its highest since March…

“Most Shorted” Stocks were screaming higher in 2021, until the Capitol was breached…

Source: Bloomberg

As we noted in December:

And since it is the most shorted stocks that end to do far better than the most popular ones, especially during market-wide squeezes such as the one seen since March, here is also the list of 50 most-shorted stocks. As usual, our advice is to go long the most hated names and short the most popular ones – a strategy that has generated alpha without fail for the past 7 years, ever since we first recommended it back in 2013.  

Seems like that worked out well.

VIX spiked back above 26 after falling to a 22 handle early in the day…

Treasury yields surged on the ‘blue wave’ reflation trade…

Source: Bloomberg

With 10Y Yields bursting above 1.00%. While the surge felt large, the last two days 13bps jump is smaller than the 16bps jump in early November after the election night…

Source: Bloomberg

The yield curve steepened aggressively today, with 2s30s up 7bps to 166bps – its highest since May 2017…

Source: Bloomberg

Real yields spiked today, weighing on gold…

Source: Bloomberg

The dollar ended the day lower…

Source: Bloomberg

And broke below the 2018 lows at its lowest of the day…

Source: Bloomberg

Cryptos surged on the GA results with Bitcoin spiking to new record highs above $36,000 as DC protests escalated…

Source: Bloomberg

It’s been a big year so far for cryptos…

Source: Bloomberg

As cryptos rallied gold followed but this morning saw gold get monkeyhammered lower as crypto pushed on higher

Source: Bloomberg

Gold futures ramped overnight up to pre-vaccine levels then puked back lower to erase YTD gains…

WTI rallied to almost $51 after inventory data – its highest since Feb…

Finally, as stocks rally amid anarchy in Washington, the Smart Money remains on the sidelines…

Source: Bloomberg

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

The normally bullish ADP prints a big drop in employment in December

(ADP/zerohedge)

ADP Prints Big Surprise Drop In Employment In December

WEDNESDAY, JAN 06, 2021 – 8:18

After a few weeks of re-rising jobless claims (with Pandemic Emergency claims substituted for normal ongoing claims) and over 20 million Americans still on unemployment rolls, analysts expected a weak +75k rise in employment from ADP in December.

Instead it was much worse, with ADP reporting a 123k drop in employment – the worst since April…

Source: Bloomberg

Both large and small businesses saw losses in jobs while medium-sized businesses saw a rise…

The Services industry (Leisure/Hospitality & Transportation dominant) saw the biggest drop in jobs while Manufacturing job losses dominated the Goods Industry…

Non-farm payrolls is expected (for now) to be +50k… we suspect this ADP print will see a reduction in that forecast.

END
USA Services are 70% of GDP:

US Services Sector Disappoints In December As Costs Soar

WEDNESDAY, JAN 06, 2021 – 9:52

After US Manufacturing PMI ‘surprisingly’ beat and jumped to 7 year highs (thanks to the fallacy of attributing surging Supplier Delivery Times as a positive rather than lockdown-based supply chain disruptions), Europe’s PMI disappointed this morning and analysts expected US Services PMI to slide slightly further than its preliminary print for December.

  • Markit US Manufacturing PMI BEAT at 60.7 vs 56.8 exp vs 57.5 prior – best since 2014
  • Markit US Services PMI MISS at 54.8 vs 55.2 exp vs 55.3 flash vs 68.4 prior – slowest in 3mos

And those PMIs hit as ‘hard’ economic data is dumping (and ADP sees joblessness on the rise)…

Source: Bloomberg

Despite cost burdens rising at the sharpest pace since data collection began in October 2009, service sector firms sought to limit selling price increases in an effort to boost sales. Manufacturers, however, raised their output charges at the steepest rate since May 2011.

Alongside a slowdown in domestic demand growth, service sector firms registered the first contraction in new business from abroad since May. Panellists often stated that the fall in foreign client demand stemmed from greater travel restrictions imposed due to the ongoing pandemic. The rate of decline was solid overall, but was much softer than those seen in the spring at the start of the pandemic.

The Services print completes the picture for the US Composite PMI which eased further, now weaker than China

Source: Bloomberg

Commenting on the latest survey results, Chris Williamson, Chief Business Economist at IHS Markit, said:

Rising virus case numbers took an increasing toll on the US economy in December, with business activity, order books and employment all growing at much reduced rates. The slowdown was especially steep in the service sector, where stricter social distancing measures hit consumer-facing businesses in particular.

“More encouragingly, businesses remain much more confident about the outlook in a year’s time than before the successful vaccine developments, reflecting greater optimism for prospects of life returning to normal in the second half of 2021.”

While the survey data remained sufficiently resilient to indicate that GDP continued to expand at a relatively robust rate in the fourth quarter, the near-term outlook has deteriorated. Business expectations for the coming year fell considerably compared to November, as some postelection exuberance waned and companies grew more anxious about the ongoing impact of the pandemic. Rising case numbers represent an increased risk to the economy in the coming weeks, and hopes rest to a large extent on pandemic stimulus lifting the economy to prevent another downturn.

end
November sees factory orders rise but that will turn down when they report in December
(zerohedge)

US Factory Orders Surprise To Upside In November

WEDNESDAY, JAN 06, 2021 – 10:05

Amid a resurgence of the virus and the concomitant lockdowns, weakness in PMIs, and rising joblessness, analysts still expected Factory Orders to rise in November and they did… more than expected.

US Factory Orders rose 1.0% MoM in November (more than the +0.7% expected) and October was revised higher to +1.3% MoM. That is the seventh straight month of rebound in orders…

Source: Bloomberg

On a year-over year basis, factory order remain lower (but only -0.4% YoY).

Overall, US Factory Orders remain below their pre-COVID levels

end

This will kill valuations

(zerohedge)

Rates Are Blowing Out: A 1% Increase In 10Y Yields Will Slash P/E Multiples By 18%

WEDNESDAY, JAN 06, 2021 – 14:55

As Bloomberg macro technician William Maloney writes this morning, after a lengthy period of meandering, the yield on 10-year U.S. Treasuries spiked above 1.0% and hit 1.052% amid an ascending triangle breakout, signalling a further rise could be on the way. According to Maloney, the breakout could set up a run to 1.09%, which is 76.4% Fibonacci of the March 19 peak to August low.

The reason for the breakout, as discussed earlier, is simple: the Docratic blue sweep which now appears likely paves the way for more spending, much more stimulus and a gaping budget deficit, pushing inflation expectations and nominal yields sharply higher. Indeed, long-bond rates were on track for their biggest one-day jump since March’s pandemic-related turmoil and investors have already started to dust off reflation trades in anticipation of a so-called Blue Sweep.

“The result will certainly be seen as a driver of higher Treasury yields,” said James Athey, a money manager at Aberdeen Standard Investments. “The reflation trade has already been sparked. The question really is how much further the Senate result will push that.”

“I can see 10-year Treasury yields rising to 1.5% to 2% in short order if more and more uncertainty gets behind us,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore.

To be sure, while a continuation of the move higher in yields is guaranteed, the reason why markets remain sanguine about a major, VaR-shock inducing move – one which would risk to violent deleveraging among the risk parity funds and hammer risk assets  – is because the Fed has previously telegraphed it would step in with some form of Yield Curve Control to prevent just that from happening.

But what if the Fed is willing to let yields run? What if inflation is about to be unleashed and the next stop for the 10Y is not 1.50% but 2.0% or even 3.0% or more? What will happen to stocks then?

For the answer we go to the latest note from Morgan Stanley’s Michael Wilson, who warned that surging yields is the biggest risk the market is unprepared for, and made some ominous observations. We excerpt them below:

As we peruse the financial markets today, we can’t help but notice one major outlier to the constructive economic story line that has now been adopted by most investors: long-term bonds/interest rates. No other asset in the world is as mispriced for even the modest increase in growth/inflation that is expected. Based on some simple relationships with stocks, commodities and economic growth projections, the 10-year US Treasury yield appears to be at least 100 basis points, or 1%, too low.

This is a crucial consideration for investors because every asset in the world is dependent on the 10-year US Treasury yield. It is the pricing mechanism for all long-duration financial and real assets—equities, credit, real estate and commodities. In other words, while better economic growth positively affects the value of these assets, low long-term Treasury yields play just as big of a role, if not bigger.

Using the S&P 500 Index as an example, an increase of 1% in the 10-year US Treasury yield from current levels would lead to an 18% decrease in the price/earnings multiple (P/E), all else equal. For the Nasdaq 100 Index, such a rise would equate to a 22.5% decline in the P/E. While such an abrupt increase in interest rates is unlikely, we wouldn’t rule it out. The point here is that asset prices are looking rich at the moment given the upside risk to interest rates and very low chance they fall further in the absence of some bad economic developments

So what are the odds of this “worst-case scenario” where yields move sharply higher in a very short period of time? According to Wilson, the answer is quite high:

While there is still very good potential upside for many of the stocks we like in this new bull market, one should be prepared for an adjustment in valuations lower as interest rates catch up to what other asset markets have been saying for months. If this adjustment is gradual, then stocks and other assets will likely go sideways for a while until earnings eventually take them higher.

However, should that adjustment in rates occur more rapidly, all stock prices will adjust lower, perhaps sharply, rather than just go sideways.

We suspect such an adjustment is more likely than most if we are right about growth and inflation surprising further on the upside.

Bottom line: rates are going higher, perhaps as much as 100bps higher. The only question for stocks is whether this move will take place in months, or days: that will make all the difference if the next move in stocks is higher or much lower…

Source: Bloomberg

We suspect December will show the weakness return.

iii) Important USA Economic Stories

What is going on here? Trump replaces USA Attorney General with another Trump appointed prosecuter after BJ Pak abruptly resigns

(Epoch Times/Laila)

President Trump Replaces US Attorney in Atlanta with Another Trump-Appointed Prosecutor After Byung “BJ” Pak Abruptly Resigns

President Trump wasted no time replacing the top federal prosecutor in Atlanta with another Trump-appointed prosecutor.

US Attorney in Atlanta Byung “BJ” Pak abruptly resigned on Monday and it is unclear if it was voluntary or if he was asked to leave his post.

According to Talking Points Memo, Pak cited “unforeseen circumstances” in an internal email announcing his early departure.

The U.S. attorney in Atlanta departed his post Monday, TPM has learned, after previously indicating that he would not leave until Inauguration Day.

TRENDING: BREAKING EXCLUSIVE: Evidence China Was Colluding with the Bidens and Providing Information on How to Defeat President Trump in the 2020 Election

The reason for U.S. Attorney Byung “BJay” Pak’s change of plans are not clear. In an internal email announcing his departure obtained by TPM, Pak cited only “unforeseen circumstances” as the reason he was leaving Monday rather than Jan. 20.

President Trump bypassed the Assistant US Attorney who was supposed to take Pak’s place and instead chose to replace the outgoing US Attorney with a former state prosecutor.

Monday night Bobby L. Christine was named Acting U.S. Attorney for the Northern District of Georgia “by written order of the President.”

Bobby Christine, a former state prosecutor also previously served as a Senate-confirmed US Attorney for the Southern District of Georgia.

President Trump’s move to bypass the First Assistant US Attorney and replace the outgoing US Attorney with another Trump appointee comes as he continues to fight against the corrupt Georgia machine.

President Trump this week filed two lawsuits against crooked Georgia Secretary of State Brad Raffensperger for leaking his confidential litigation call with state legislators.

END

Michael Snyder reports on the uSA restaurant industry which has been devastated by the COVID 19 pandemic and lockdowns

(Michael Snyder)

The US Has Lost More Than 110,000 Restaurants, Setting Stage For Commercial Real Estate Collapse Of Epic Proportions

TUESDAY, JAN 05, 2021 – 17:25

Authored by Michael Snyder via TheMostImportantNews.com,

The restaurant industry is in the midst of a complete and total meltdown that is unlike anything that we have ever seen before.

If you ask Google how many restaurants there are in the United States, it will tell you that there are 660,755, although that number is a few years old.  But for the purposes of this article, that is a good enough estimate.  Americans love to eat out, and restaurant workers are some of the hardest working people in the entire country.  So it is incredibly sad to see more restaurants constantly going under.  In some cases, restaurants that have served their communities for decades are deciding to permanently close their doors.  For example, over the weekend Sammy’s Roumanian Steakhouse in New York City announced that it had finally reached the end of the road

Landmark New York City restaurant Sammy’s Roumanian Steakhouse has closed its iconic basement-level doors as the coronavirus pandemic continues to cripple the restaurant industry.

The Lower East Side fixture was famous for its latkes spreads, chopped liver, and vodka bottles frozen in blocks of ice and was known as a boisterous party spot frequented by celebrities.

Unfortunately, Sammy’s is far from alone.

In fact, in a recent article that he penned for Fox Business, Adam Piper lamented the fact that more than 100,000 U.S. restaurants have gone out of business during this pandemic…

State and local governments have wielded the coronavirus pandemic as license to steal freedom and opportunity in pursuit of unprecedented omnipotence. Unreasonable, unnecessary and hypocritical actions have forced over 100,000 restaurants to close and endanger countless others.

And according to Bloomberg, the true number of dead restaurants is now over 110,000…

More than 110,000 restaurants have closed permanently or long-term across the country as the industry grapples with the devastating impact of the Covid-19 pandemic.

Just think about that.

More than one out of every six restaurants in the U.S. is already gone, and the National Restaurant Association is warning that there will be more carnage in the months ahead because the industry is in “an economic free fall”

“The restaurant industry simply cannot wait for relief any longer,” Sean Kennedy, executive vice president of public affairs at the association, said in a letter to Congress. “What these findings make clear is that more than 500,000 restaurants of every business type — franchise, chain and independent — are in an economic free fall.”

This is what an economic depression looks like.

With tens of thousands of restaurants sitting empty, and with tens of thousands of others not paying rent, the stage has been set for a commercial real estate disaster of unprecedented scope and size.

Of course there are millions of square feet of office space and retail space that are not being productive right now as well.  In a recent article, Lee Adler referred to this looming commercial real estate nightmare as “a monster in the room”…

I think that if there’s anything that illustrates the head in the sand problem of the banks, it’s this. Commercial real estate (CRE) finance. There’s a monster in the room. All that empty space. No longer income producing.

For now, big financial institutions are doing their best to hide their coming losses, but according to Adler for certain sectors the losses will simply be unavoidable

Multifamily will take a haircut but will survive. My guess is that industrial, while overpriced and overvalued, will produce enough income to get by. Office and retail? Kiss it goodbye. It’s done. Over. Kaput.

Sadly, he is right on target.

The coming commercial real estate crisis is going to make the subprime mortgage meltdown of 2008 and 2009 look like a Sunday picnic.

And the longer this pandemic stretches on, the larger the losses will ultimately become.

For residential real estate, the big story is that hordes of Americans are fleeing both coasts and are moving to smaller communities in the middle of the country.

So even as housing prices drop substantially in major cities on the east coast and the west coast, they are rising rapidly in cities such as Pittsburgh, Boise and Austin

Smaller metropolitan markets like Pittsburgh, Cleveland, Cincinnati, Indianapolis, Kansas City, Boise, Idaho, Austin, Texas, and Memphis, Tennessee are seeing some of the strongest price gains in the nation now, according to the Federal Housing Finance Agency. Prices in those cities are now at least 10% higher than with a year earlier.

And as I discussed yesterday, we are actually starting to see hyperinflation for high end properties in desirable rural and suburban areas of the country.

Just recently, a friend sold a home that is located not too far from us for a price that almost made my eyes bug out of my head.  I literally had a difficult time believing the insanely high price that they were able to get, but this is what happens in a hyperinflationary environment.

2020 may have been a “personal financial disaster” for 55 percent of all Americans, but thanks to the hyperinflation in the stock market the wealthy have more money to throw at high end real estate than ever before.

Unfortunately, all of this wild money printing is not going to be able to prevent the coming crash in commercial real estate.

No matter how much money they have, many Americans are simply too afraid of COVID to eat out right now, and that will remain the case for the foreseeable future.

And we are going to continue to see more Americans migrate away from the large cities on both coasts, and more businesses in those core urban areas will continue to fail.

As the commercial real estate crash unfolds, a lot of financial institutions simply won’t be able to make it without government help.

So will the federal government bail them out?

You never know, but every dollar the federal government borrows and spends just makes our long-term problems even worse.

All of the dominoes are starting to fall, and we are still in the very early chapters of this horrifying economic collapse.

Unfortunately, most Americans still don’t understand what is happening, and most of them have no idea that economic conditions will soon get even worse.

*  *  *

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

END
USA Judge blocks Trump sanctions on the Hague prosecutors//International Criminal Court
(zerohedge).

US Judge Blocks Trump Sanctions On International Criminal Court Prosecutors

WEDNESDAY, JAN 06, 2021 – 4:15

Last summer into early September the Trump administration took the dramatic action of attempting to sanction top prosecutors of the International Criminal Court (ICC) based in the Hague. This was in reaction to the ICC opening a major, controversial investigation into widespread allegations of US soldiers committing war crimes in Afghanistan. This was on the heels of Washington already having blocked visas into the US for ICC officials and even their families.

At the time Pompeo at blasted the ICC as a “kangaroo court” for continuing to “target Americans” for its probe which focuses on American military actions in Afghanistan during the 2003 to 2014 time period.

On Monday a US federal court blocked Trump administration efforts to sanction the Hague-based ICC officials, however. “US District Judge Katherine Polk Failla in Manhattan issued apreliminary injunction against the White House from imposing criminal or civil penalties against four law professors under an executive order from President Donald Trump last June,” Reuters reports.

International Criminal Court in The Hague, Netherlands, via AP

Fallia’s ruling centered on arguments that Trump’s order unconstitutionally stifled their free speech rights.

“The court is mindful of the government’s interest in defending its foreign policy prerogatives and maximizing the efficacy of its policy tools,” Failla wrote. “Nevertheless, national-security concerns must not become a talisman used to ward off inconvenient claims.”

The ruling was in response to a lawsuit brought by the Open Society Justice Initiative in response to the administration going after the ICC. The biggest escalation came in early September when the US announced sanctions targeting ICC chief prosecutor Fatou Bensouda.

Going back to the Bush administration, the official US position has essentially remained that any ICC probe into US officials is a violation of American sovereignty.

America’s rivals like Russia and Iran, as well as EU countries, were quick to point out the longstanding hypocrisy: US officials cheer when the ICC imprisons some Balkan or African warlord while at the same time claiming Americans are exempt from even so much as a preliminary investigation.

END
Storming  of the Bastille!!!!!!!!!!!!!!!!!
(zero hedge)

US Capitol Buildings Go Into Lockdown Due To Protests

WEDNESDAY, JAN 06, 2021 – 13:55

Following President Trump’s address to supporters at a rally in Washington on Wednesday afternoon, a group of demonstrators marched to the US Capitol and reportedly breached several layers of security barricades around the building.

Just before 1300 ET, a group of Trump supporters “toppled the barricades, storming through them to the grassy fields leading to the Capitol,” according to WaPo.

Inside the Capitol, Congress is meeting to certify the electoral college votes for President-elect Joe Biden

Amid the unfolding chaos, staff in the Cannon House Office building to evacuate, according to a notice obtained by Bloomberg. Madison office building staff have also been told to evacuate.

Demonstrators are becoming increasingly violent towards police.

Trump supporters are attempting to break police lines at the Capitol.

“Whoa: Trump supporters going at it with the police on the steps of the Capitol as Congress counts the Electoral College ballots inside,” HuffPost’s Philip Lewis tweeted.

“Whoa: Trump supporters going at it with the police on the steps of the Capitol as Congress counts the Electoral College ballots inside,” HuffPost’s Philip Lewis tweeted.

Representative Haley Stevens tweeted that she is “sheltering in place in my office.” She said the building next to her is being “evacuated.”

Stevens wrote: “I can’t believe I have to write this.”

Here are more views outside of the Capitol. The Daily Dot’s Zachary Petrizzo said police are now firing tear gas into the crowd.

Apparently, the crowd outside the Capitol is increasing in size.

CNN’s Kaitlan Collins has just tweeted the “US Capitol is now on lockdown.”

Protesters are now at the steps of the Capitol.

Protesters have made it to the doors of the Capitol.

Protesters have made it inside the Capitol building.

*This story is developing

end
ELECTION NEWS
BIG STORIES
NO 1
Quite a story!

Biden Arrested, SCOTUS Roberts Caught, CIA Child Trafficking, Gun and Drug Running Ring Exposed

messenger sharing button
reddit sharing button
tumblr sharing button
vk sharing button
telegram sharing button
sharethis sharing button

On New Year’s Day 2021 Delta Forces raided Joe Biden’s 200 acre property in the Ukraine where they found a maze of underground chambers and tunnels that ran for miles in every direction. Bits of necrotic flesh hung from ankle and wrist shackles bolted to the walls. The next day Biden was placed under arrest and released wearing his own ankle bracelet.

https://youtu.be/WNxbunGbhAE

Seized laptops were said full of evidence of a massive international money laundering, gun/ drug running, child/human trafficking scheme – that appeared connected to other high powerful elites.

That long list likely included SCOTUS Chief Justice John Roberts, who has long been suspected of being blackmailed to make certain Supreme Court decisions according to Trump Attorney Lin Wood in a series of tweets on Mon. 4 Jan.

“Chief Justice John Roberts and a multitude of powerful individuals worldwide were being blackmailed in a horrendous scheme involving rape and murder of children captured on videotape. I have the key to the files containing the videos. Others also have the encryption key.”

https://twitter.com/WeTheInevitable/status/1346069140184977408

“The blackmail targets are approached with a gun, a child, and a camera,” claimed Wood. “The target is ordered to rape the child on video. The target is then ordered to shoot the child on video. The target is then owned & controlled by the blackmailers until blackmail evidence loses its value.”

Biden’s and Robert’s crimes against Humanity appeared connected through the CIA, along with nine other intelligence agencies including the FBI. The covert agencies appeared to be running a human trafficking, gun and drug running ring used to blackmail political elites. All was being funded by US taxpayer dollars funneled through the CIA – long known to have worked with Jeffrey Epstein and his Pedophile Island in the blackmail of political and global elites.

On the Biden Ukraine property the military seized $300 million in gold bullion, Chinese-manufactured Type 56 assault rifles, tens of thousands of rounds of ammunition, laptops and in an underground antechamber were twelve duffel bags filled with black tar heroin.

https://realrawnews.com/2021/01/delta-force-raids-biden-compound-in-ukraine/

Wood said, “One of those intelligence agencies was hacked by a group known as Lizard Squad. The blackmail files of rape & murder were obtained and a copy was provided to Isaac Kappy. Kappy gave the files to one friend and the encryption key to another friend shortly before he was murdered in May 13, 2019.

“Jeffrey Epstein used this same blackmail scheme of child rape and murder to either further his own interests or those of any intelligence agency with whom he worked. I have no idea extent of blackmail scheme of raping and killing children but given the number of agencies involved, the hundreds of thousands of missing children, & the otherwise inexplicable actions of many powerful officials, celebrities, & business leaders, I fear the worst.

“Many issues in our world may be tied to this blackmail scheme, including the bizarre behavior of officials & judges in the recent election.”

The Ukraine Biden estate was found to be the headquarters of Paradigm Global Advisors. In the late summer of 2006 the Biden family bought Paradigm as a hedge fund and fired 95% of staff. By June 2009 the company was found to be a slush fund for laundering money.

On Wed. 6 Janat 9am EST just prior to Congress meeting in the Electoral College, the Trump legal team was believed prepared to present extensive documentation of Voter Fraud, along with proof of Biden’s and Robert’s crimes and their connections to foreign intervention in the US 2020 Election.

Though, we didn’t have to wait for that. Long before the 2020 Election Biden had already announced his crimes to the world:

Biden brags about blackmailing Ukraine prosecutor:

https://www.youtube.com/watch?v=UXA–dj2-CY

Biden says, “We have put together the most comprehensive voter fraud organization in the history of politics (and you guys did it for the Obama Administration also”):

https://www.youtube.com/watch?v=MA8a2g6tTp0

END

I saw this myself:  The crooks at first reported 79% of the votes were in and then it was suddenly reduced to 76% and then a massive dump of votes in Fulton county.

It’s Happening Again – Total Vote Counts in Georgia Senate Race Reported at 79% Then Suddenly Reduced to 76%

The definition of insanity:

Doing the same things over and over again and expecting different results.

We saw this in the 2020 election and so it’s no surprise that it’s happening again.  The Dominion voting machines in Georgia reported glitches:

TRENDING: BREAKING EXCLUSIVE: Evidence China Was Colluding with the Bidens and Providing Information on How to Defeat President Trump in the 2020 Election

This happened across the country and in all instances the ‘glitch’ went against President Trump:

With the same systems, the same machines, and the same corrupt individuals running the election, what would you expect to happen?  Now today we have identified more system glitches occurring in the Georgia Senate race last night.  These glitches are related to the percent of votes counted being reduced in the race:

FOX News reported the results in the Georgia Senate race with 79% of all votes reporting.  Then just like that the vote percentages reporting were reduced to 76% reporting:

The concern here is that the total percent of votes counted was reduced so additional votes can be inserted into the election to offset the losses the Democrats are incurring in the race at that point in time.  The Democrats need to insert more votes into the election and so the percentage of votes being counted is reduced.

Here we go again.

end

No 3

Same Modus operandi as in the Presidential election; massive fraud!

(Gateway Pundit/Taylor)

Breaking: As GOP Pulls Ahead in Georgia Senate Races, Democrat County Stops Counting Votes for the Night

PShare

A Democrat-leaning Georgia county called it quits for the night with thousands of vote yet to be counted as the two Republican U.S. Senate candidates held on to slim leads after being behind the Democrats most of the evening after polls closed.

As of 11 p.m. EST with about 91 percent of the votes counted, Sen. Kelly Loeffler was ahead of Rev. Raphael Warnock 51.1 to 48.9 percent and Sen. David Perdue was ahead of Jon Ossoff 51.5 to 48.5 percent.

“UPDATE: just confirmed. Chatham County is done counting votes for the night. The board of elections annex building is empty. Workers say they’ll be back at 8 a.m. Still thousands of votes to be counted here. @WJCLNews”

TRENDING: BREAKING EXCLUSIVE: Evidence China Was Colluding with the Bidens and Providing Information on How to Defeat President Trump in the 2020 Election

“In Democratic-leaning Chatham, the vote-counting appears on hiatus for the night … still thousands of outstanding ballots remaining to be tallied there.”

“It’s like conspiracy theory gasoline”

Michelle Malkin reports Chatham County was a recipient of over $500,000 in Zuckerbucks last September for help with public elections, “So Chatham County GA election officials have stopped counting votes until 8am tomorrow! You should know that Zuckerberg/@helloctcl gave Chatham County GA officials a half-million dollar private Big Tech grant in September to run public elections.”

President Trump observed right as news broke of Chatham County shutting down, “Looks like they are setting up a big “voter dump” against the Republican candidates. Waiting to see how many votes they need?”

UPDATEL Gabriel Sterling weighs in Chatham. Earlier he had told of a massive 171,000 vote dump to come in Democrat DeKalb County, “Chatham County didn’t just stop. They completed the counting of everything they have in. That includes Election Day, Advanced, & all of the absentees they had in. The last left will be the absentee by mail that came in today.”

end

No 4

Here We Go Again: DeKalb County Georgia is Re-Scanning Advance Ballots Because of ‘Memory Card Issue’

PShare

Scandal-plagued DeKalb County is rescanning advance ballots in Georgia’s senate race because of a “memory card issue.”

DeKalb County fired an election manager after a series of errors in the audit of ballots in November.

TRENDING: BREAKING EXCLUSIVE: Evidence China Was Colluding with the Bidens and Providing Information on How to Defeat President Trump in the 2020 Election

“Due to technical issues, the remaining 19,000 ballots must be manually scanned in order to be tabulated and added to the total vote count. Georgia’s voting system provides built-in safeguards, in the form of paper ballots that allow us to quickly process ballots that are electronically cast,” the county said in a statement shared by Alec McQuade of 11 Alive News. “These outstanding paper ballots are currently being scanned and the tabulation will be completed as quickly as possible and in compliance with state guidelines.”

CNN reporter Nick Valencia tweeted that 19,000 ballots in DeKalb “‘must be manually scanned in order to be tabulated and added to the total vote count’ due to technical issues.”

A county statement in November when the election manager was fired said that, “it has come to our attention that a DeKalb VRE manager, who is now a former employee, failed to follow our established protocols and blatantly disregarded the required processes we utilize to account for and record all legal and verified ballots.”

DeKalb County election observers also caught an impossible batch of votes for Joe Biden.

No 5

Massive fraud as 5,000 votes for Perdue were removed:
(Fairbanks/Gateway Pundit)
CNN and ABC News Remove 5,000 Perdue Votes During Live Broadcasts (VIDEOS)

Multiple people captured videos of the moment that CNN and ABC News removed 5,000 votes from David Perdue in the Georgia senate race.

Perdue’s vote tally went from 2,130,535 down to 2,125,535.

TRENDING: BREAKING EXCLUSIVE: Evidence China Was Colluding with the Bidens and Providing Information on How to Defeat President Trump in the 2020 Election

The vote count total change came on CNN after a black box appeared over tally.

Perdue’s Democrat opponent Jon Ossoff’s tally did not change.

As the Gateway Pundit reported earlier Tuesday evening, Democrat-leaning Georgia county called it quits for the night with thousands of vote yet to be counted as the two Republican U.S. Senate candidates held on to slim leads after being behind the Democrats most of the evening after polls closed.

“Looks like they are setting up a big ‘voter dump’ against the Republican candidates. Waiting to see how many votes they need?” President Donald Trump tweeted just before 10:30 p.m.

end

No 6

REPORT: Obama and Renzi Orchestrated the Theft of US Elections

The Georgia Senatorial run-off election appears to be a repeat of November 3rd, with Dominion machines in three of the largest Republican precincts malfunctioning early in the day and voters told they couldn’t scan their own ballots.

Poll workers promised to scan the ballots on voters’ behalf as soon as the machines were fixed.

There were also reports of 90%+ turnout in Democrat districts, as well as massive ballot dumps.

Live on ABC TV, 32,000+ votes were deducted from David Perdue and shredded ballots found in Fulton County, complete with invoices from the ballot printer in China.

At 10PM, just as the GOP candidates began to pull ahead, counties shut down their counting operations, saying they would restart counting at 8AM today.

Meanwhile, Trump supporters going to DC for the Stop the Steal rally will find that not only have all the local businesses been ordered by Mayor Bowser to freeze them out of town but both Google Maps and Apple Maps have canceled their directions services for the DC Metro area!

ALL ROADS LEAD TO ROME

The main breaking story from BlueSkyReport is that Italy was heavily involved in the 2020 Election fraud, in a plan dating back to 2016, during Obama’s final State Visit to Italy.

Obama and former Italian Prime Minister, Matteo Renzi reportedly orchestrated the theft of the US election from President Trump, with the help of General Claudio Graziano, who gave the CIA and the State Department access to an Italian military satellite, allowing elections in all US states to be manipulated with “Fractional Magic”.

US election data was forwarded from Frankfurt, Germany to Italy where members of MI6, CIA, and the Leonardo group built the algorithms to manipulate US election data.

 ( this is what was on the servers) 

In other words, Obama and much of Italy’s left wing government conspired and colluded to steal Trump’s election win.

When their efforts failed to overcome Trump’s massive turnout, four of the five States were ordered to stop counting.

Graziano is also the head of the European Union Military Committee, which is comprised of all the chiefs of staff of every EU member state. ( the EU has much to answer for and they are desperate as the information possessed by SF will destroy them ) 

So, if he wasn’t acting on his own accord, it suggests that every EU member state is also complicit in the election fraud that has occurred in the 2020 Elections.

All of this is according to articles and videos shared by tech entrepreneur and former Overstock.com CEO, Patrick Byrne, who funded private cyber security teams to monitor the 2020 election and who vouched for the veracity of this story on Twitter. ( Patrick knows the story as he worked and funded the spear that led to the  server as a hub point and ten use of the satellite)

Former US Deputy Secretary of Defense under Obama, William J. Lynn III led the Department’s efforts in cyber security and space strategy.

Lynn is also currently the CEO of Leonardo DRS, a US subsidiary of Leonardo with approximately $2 billion in revenue.

This story broke in Italy on December 1, 2020 in the Italian national newspaper, La Verità, with the headline,

“Trump’s lawyers have no doubts: An Italian hand in pro Biden fraud”.

The article outlines the alleged operation executed in Rome with the complicity of Italian defense contractor, Leonardo.

This video Zoom call with BlueSkyReport and her supporters gives more of the details in this story and tells of her efforts to get this information in front of President Trump.

Running Time: 50 mins

https://forbiddenknowledgetv.net/report-obama-and-renzi-orhcestrated-the-theft-of-us-elections/

end
No 7
This is big: they have proof that Obama orchestrated the theft of the 2020 election via Renzi, the former Italian Prime Minister. Sidney Powell, General Flynn, Rudi Giuliani and the Prei
please listen…..
They do have it all … Trump has all he needs to declare Marshall law and arrest the bad guys.
If not now, then I do not know what it will take.
What will happen now is the populace will never accept Biden.
Expect more on the  net as it will be posted on line from several sites.
Ready the popcorn!

https://vocaroo.com/1e976QE4oDoy

end
How Obama orchestrated the theft of the 2020 election. Obama used the Italian Government and their satellite super computer Leonardo in this endeavour.
(Nations in Action)

PRESS RELEASE: Votes Switched throughout U.S. Presidential Race – Institute for Good Governance

Senior IT Expert at Global Defense Contractor Testifies in Italian Federal Court; He and Others Switched Votes throughout America in the U.S. Presidential Race

Rome, Italy (January 5, 2021) – An employee of the 8th largest global defense contractor, Leonardo SpA, provided a shocking deposition detailing his role in the most elaborate criminal act affecting a US election. Corroborating the DNI Ratcliff’s report of international intrusion, Arturo D’elio outlined the scheme that proved successful in using Leonardo computer systems and military satellites located in Pescara, Italy. Recent reports of a hack at Leonardo now appear to have been an orchestrated cover to mitigate blowback on the corporation which is partially owned by the Italian government.

Nations In Action, a government transparency organization, partnered with the Institute of Good Governance to thoroughly investigate and research the election irregularities which yielded the long awaited proof that a flawless plot to take down America was executed with extraordinary resources and global involvement. Americans and elected officials now have proof that the election was indeed stolen.

This provides the mechanism for each state to recall their slate of electors immediately or face lawsuits and request all federal government agencies to lock down all internal communications, equipment and documentation from the Rome Embassy. “Make no mistake, this is a coup d’etat that we will stop in the name of justice and free and fair elections,” stated Maria Strollo Zack, Chairman of Nations in Action.

The Institute for Good Governance issued the following statement:

Our mission is to provide the full truth, expose the perpetrators of this horrific crime, and ensure that every person involved, regardless of position, be prosecuted to the fullest extent of the law. Nations In Action and the Institute for Good Governance are making the following demands on elected officials:

• Depose State Department officials starting with Rome staff including Stefan Serafini
• Immediately strip Leonardo SpA of all contracts and seize assets
• All congressional members must speak out against this foreign and domestic interference or face recalls and suspicion of involvement
• Implement the most severe penalties for participants who had knowledge or participated and refuse to assist in the investigation

Maria Strollo Zack, founder of Nations In Action added, “States must prosecute all illegal voting activities and provide immediate legislative remedies. There can only be zero tolerance for criminal interference in American elections. This international conspiracy must be met with swift action by the President and be fully supported by elected officials for the protection of voting integrity and the prosperity of our great nation.”

Click HERE for related information.

Click HERE to view the General Affidavit.

Click HERE to view Affidavit ID.

To book a media interview with Maria Strollo Zack, please contact:

Marjorie Meyers, Nations In Action

646-246-8606 or Marjorie.Meyers@NationsInAction.org

end

Conte, Leonardo SpA and the U.S.
Embassy behind the Election Data
Switch fraud to take out Trump

Italy and Conte played a key role in the international cyber plot to take out Trump.
Leonardo Finmeccanica’s Cyber Warfare satellites are among the means used
January 5, 2021

by Riccardo Corsetto

Riccardo Corsetto
Director L’UNICO

“The Italian Government and Prime Minister Guiseppe Conte are directly
involved in the electoral fraud that affected the American elections leading to
Joe Biden’s pending illegal victory.” According to US investigative sources
working here in Italy since 18 November 2020, it was the US Embassy in Rome
who coordinated the data manipulation of votes cast for President Trump to Joe
Biden, with the technical complicity of Leonardo SpA, a company that is 31%
owned by the Italian Government and generates more than half of its multi
billion USD annual revenue from its US based subsidiary. Leonardo DRS whose
chief executive officer, William Lynn III, was formerly the undersecretary of defense during the Clinton Administration. Leonardo DRS is actively pursing a public listing on the NYSE in 2021.

Leonardo SpA, formerly known as Finmeccanica underwent a name change in
January 2017. According to individuals who carried out the data switch
operation under the direction of US intelligence officials in the American
Embassy, they utilized one of Leonardo’s advanced military spec (cyber
warfare) satellites to transmit manipulated votes back to Frankfurt servers and
on to the United States, as reported by the journalist Cesare
Sacchetti. Leonardo S.p.A. it is the largest industrial company in Italy and is
active in the fields of defense, aerospace and cyber security. The largest
shareholder is the Italian Ministry of Economy and Finance, which owns a share
of approximately 31%.

Leonardo-Finmeccanica merged the activities of previously controlled companies
such as AgustaWestland, Alenia Aermacchi, Selex ES, OTO Melara and Wass.
Leonardo is the tenth largest defense company in the world and the third
largest in Europe with revenues from the defense sector representing 68% of its
annual revenue. The company is listed on the FTSE MIB index of the Milan Stock
Exchange. The company is structured in five operational divisions: Helicopters,
Aircraft, Aerostructures, Electronics and Cyber Systems for Security and
information. In Fiscal Year 2020, the US Government awarded nearly $1B in
cyber security, intelligence and defense contracts to Leonardo SpA.

The former chairman of Leonardo is Gianni De Gennora who left Leonardo in
May 2020.

Leonardo SpA Chief Executive Officer Alessandro Profuma, a former banker who
in October 2020 was condemned for the scandal of Banca di Monte Paschi di
Siena. Alessandro Profumo was appointed by the Gentiioni Government and
reconfirmed by Prime Minister Giuseppe Conte. The same Profuma was recently
sentenced to six years for banking irregularities by Italian courts.
One of the board of directors of Leondardo SpA (2017) was Professor Guido
Alpa, a former law partner of Giuseppe Conte in Rome.

Prime Minister Giuseppe Conte in recent days had been the subject of press
articles about plans to establish private intelligence agencies.
The involvement of the Italian Government through Leonardo SpA

The President of the Council – Prime Minister Giuseppe Conte

The Conte Government is believed to have played a key role in the international
coup that would have compromised President Donald Trump’s reelection.
Switzerland has recently come under heavy accusation of complicity in the
alleged cyber coup, as claimed by Neal Sutz, a Swiss-American blogger, who
denounced Switzerland’s active role in US presidential fraud.
Scylt, Swiss software linked to Dominion Voting Machines
It all starts with Scylt, denounced Neal Sutz,a software purchased by the Swiss
national postal service , which is directly implemented in Dominion Voting
Machines at the center of the US election scandal, directly linked to the tycoon
George Soros.
According to Sutz, Switzerland never informed the Trump Administration of the
serious flaws in the Scylt software, well known to the Swiss Government, and
added that it had evidence of the plot that President Trump’s lawyers would
acquire.
According to local sources with direct knowledge of these events reporting to
Nations in Action, the US nonprofit for election integrity and public governance
transparency, the manipulated data was transmitted from Frankfurt to Rome via
the US Embassy in via Veneto, according Rome the central role in the alleged
international election plot to overturn the ballots cast by American citizens for
the next President of the United States thereby creating a constitutional crisis.
On the night of 3 November (in the United States) – approximately 8 o’clock in
the morning Italian time – the counting of votes was simultaneously suspended
in a number of key battleground states, as shown by some official videos taken
from the closed circuit of the Atlanta polling station and which we have
documented extensively in this newspaper.

At that point while the fraud was already widely initiated, the Leonardo SpA IT
hackers realized that “Trump stood above Biden for a very large
and unexpected number of votes” so much so that manipulation was in vain and
not enough to make him lose.

U.S. President-Elect Joe Biden

Sicilian born Igzanio Moncada, CEO of FATA SpA, a wholly owned subsidiary of
Leonardo SpA, is believed to be a bridge between some secret services and the
Italian Beijing Business Association, the Italian Iran Business Association and
the Italian Qatar Business Association. It has been stated that Moncada may be
a key figure in the eight month planning of the election hacking in Italy.
Senior US Embassy personnel in Italy reportedly gave the order to act,
coordinating the hacking and developing “new algorithms”, states a key witness
of the fraud, to secure a win for the democrat candidate Joe Biden.
The role of the US Embassy in Rome

The US Ambassador to Italy, Lewis Eisenberg

We would not advance this story if it had not come from a former member of
the world’s largest cyber warfare aerospace and defense conglomerate based in
Italy. The US Ambassador to Italy is Lewis Eisenberg, very critical of President

Trump’s military disengagement in the world and who is very close to the neo-
Zionist lounges connected to the Goldman circuit.

Three senior officials from the US intelligence community, landed at Leonardo
da Vinci Airport in Fiumicino several days prior to the November 3rd 2020
election in the US. According to a former CIA agent, the three intelligence
operatives were housed at the U.S. Embassy in Via Veneto to coordinate
hacking operations during election count suspension from November 3-4

end

GENERAL AFFADAVIT

This exposes everything!!

END
THE STORMING OF THE BASTILLE!!!:

One Person Shot After Protesters Storm Capitol; Trump Urges “Stay Peaceful”

WEDNESDAY, JAN 06, 2021 – 13:55

Watch Live:

*  *  *

Summary:

  • 100s of Pro-Trump protesters clashed with police after the president’s speech
  • A number of protesters breached security at The Capitol and are inside the building
  • The Capitol has been evacuated
  • VP Pence has been escorted from the Chamber to a secure location
  • 1000s are peacefully protesting outside’
  •  President Trump urges protesters (via Tweet) to “Stay peaceful”
  • Washington DC Mayor orders 6 pm citywide curfew
  • DoD refuses to call DC official for National Guard deployment
  • Federal Protective Service, Secret Service Deploying To Capitol
  • President Trump Orders National Guard To Capitol To Restore Order 

*  *  *

Update (1542ET): President Trump has ordered the National Guard to Capitol grounds to restore order.

*  *  *

Update (1533ET): Several media outlets are reporting one person was shot on Capitol grounds about 30 minutes ago.

AP is reporting one person was shot; CNN is reporting a woman was shot in the chest on Capitol grounds.

Apparent gunshot victim being rushed out of the Capitol building.

We are awaiting more information. 

*  *  *

Update (1520ET): Within the past hour, President Trump has tweeted again, this time urging “everyone at the U.S. Capitol to remain peaceful.”

Trump continued: “No violence! Remember, WE are the Party of Law & Order – respect the Law and our great men and women in Blue. Thank you!”

*  *  *

Update (1512ET): More views of protesters on the Senate floor.

Additional views from inside the Capitol.

Just wow!

*  *  *

Update (1508ET): Here’s a stunning view of protesters using a window washing platform to get to higher floors of the Capitol.

*  *  *

Update (1455ET): “Officers have drawn their firearms inside the chamber of the U.S. House of Representatives after supporters egged on by the president breached the Capitol,” tweeted Reuters’ Brad Heath.

*  *  *

Update (1444ET): DC Mayor Muriel Bowser has ordered a citywide curfew starting at 1800 ET following the chaos at the Capitol. Also, reporters are saying tear gas has been deployed while President Trump urges supporters to remain peaceful.

“Lawmakers have been told to get ready to put on gas masks and have retrieved gas masks from under the seats. There is banging on the door to the chamber,” Bloomberg’s Emma Kinery tweeted.

Moments ago, President Trump urged protesters to “support our Capitol Police and Law Enforcement.”

*  *  *

Update (1434ET): Trump supporters have breached the Capitol building. The mob is now inside the building. Security at the Capitol building has failed.

*  *  *

Following President Trump’s address to supporters at a rally in Washington on Wednesday afternoon, a group of demonstrators marched to the US Capitol and reportedly breached several layers of security barricades around the building.

Just before 1300 ET, a group of Trump supporters “toppled the barricades, storming through them to the grassy fields leading to the Capitol,” according to WaPo.

Inside the Capitol, Congress is meeting to certify the electoral college votes for President-elect Joe Biden

Amid the unfolding chaos, staff in the Cannon House Office building to evacuate, according to a notice obtained by Bloomberg. Madison office building staff have also been told to evacuate.

Demonstrators are becoming increasingly violent towards police.

Trump supporters are attempting to break police lines at the Capitol.

“Whoa: Trump supporters going at it with the police on the steps of the Capitol as Congress counts the Electoral College ballots inside,” HuffPost’s Philip Lewis tweeted.

Representative Haley Stevens tweeted that she is “sheltering in place in my office.” She said the building next to her is being “evacuated.”

Stevens wrote: “I can’t believe I have to write this.”

Here are more views outside of the Capitol. The Daily Dot’s Zachary Petrizzo said police are now firing tear gas into the crowd.

Apparently, the crowd outside the Capitol is increasing in size.

CNN’s Kaitlan Collins has just tweeted the “US Capitol is now on lockdown.”

Protesters are now at the steps of the Capitol.

Protesters have made it to the doors of the Capitol.

Protesters have made it inside the Capitol building.

*This story is developing

end

DNC Headquarters Evacuated; Explosive Device Found At RNC

WEDNESDAY, JAN 06, 2021 – 15:58

As the Capitol descends into chaos with people shot and officers wounded, the DNC and RNC are evacuating their offices after an explosive device has reportedly been found at the RNC.

The two offices are located just blocks from the capitol, which is currently being overrun by pro-Trump protesters, according to the NYT.

An explosive device was found at the headquarters of the Republican National Committee in Washington and the nearby headquarters of the Democratic National Committee was evacuated after the discovery of a suspicious package on Wednesday, according to three people briefed on the discoveries.

The device that was found at the R.N.C. was a pipe bomb that was successfully destroyed by a bomb squad, according to an official for the R.N.C.

The package at the D.N.C. has yet to be identified, according to a top Democrat briefed on the matter who was not authorized to speak publicly about it.

The R.N.C. and D.N.C. are headquartered just a few blocks away from the U.S. Capitol, which Mr. Trump’s supporters stormed on Wednesday afternoon soon as Congress had gathered to certify President-elect Joseph R. Biden Jr.’s victory and shortly after the president addressed the crowd near the White House.

This appears to be an escalation as the chaos spills out from the Capitol to the rest of the District.

The National Guard has been deployed by Trump and by Virginia Gov Ralph Northup.

END

Amazing, Pelosi and Schumer scared out of their minds urgeTrump to demand all protesters leave the capital. He deploys the Natural Guard and the FBI.
When we had riots in Portland and Seattle, Pelos and Schumer were mum…such hypocrits.
(zerohedge)

Pelosi, Schumer Urge Trump To Demand All Protesters Leave Capitol, As National Guard, FBI Deployed

WEDNESDAY, JAN 06, 2021 – 16:02

At the siege of the Capitol continues, moments ago top Democrats Nancy Pelosi and Chuck Schumer issued a statement in which they urge Trump “to demand that all protestors leave the U.S. Capitol and Capitol Grounds immediately.”

They echoed Lindsey Graham, who said that “people need to leave the Capitol now”, with the DC Attorney General also picking up on this, and urging Trump to “order his supporters to leave the district.”

Trump, who is reportedly located in the White House now, tweeted just around 315pm saying that he is “asking for everyone at the U.S. Capitol to remain peaceful. No violence!”

And while we wait for the conclusion to this jarring standoff, the chief Pentagon spokesman said that the DC Guard has been mobilized and will provide support to law enforcement. “The law enforcement response will be led by the Department of Justice.”

White House spokeswoman Kayleigh McEnany said that President Trump has ordered the National Guard and other federal protective services to deploy at the U.S. Capitol.

And in the latest escalation, the FBI was just deployed to the Capitol

  • FBI DEPLOYED TO HELP U.S. CAPITOL POLICE PROTECT FEDERAL PROPERTY -U.S. OFFICIAL
end

Trump Urges Protesters “To Go Home Now” In Video Blasting “Stolen Election”

WEDNESDAY, JAN 06, 2021 – 16:35

Following ever louder urgings from politicians across both sides of the aisle, shortly after 4pm Trump released a video statement in which he urged protesters from the “March for Trump” who invaded the U.S. Capitol to stand down and go home, but not before blasting the “stolen” election.

Addressing the demonstrators, Trump said “I know you’re hurt. We had an election that was stolen from us. It was a landslide election and everyone knows it.”

But the president insisted that protesters retreat, saying: “We have to have peace. So go home. We love you. You’re very special.”

His full comments below:

“I know your pain, I know your hurt. We had an election that was stolen from us. It was a landslide election, and everyone knows it, especially the other side. But you have to go home now. We have to have peace, we have to have law and order, we have to respect our great people in law and order. We don’t want anybody hurt. It’s a very tough period of time. There’s never been a time like this where such a thing happened, where they could take it away from all of us — from me, from you, from our country. This was a fraudulent election, but we can’t play into the hands of these people. We have to have peace. So go home, we love you, you’re very special, you’ve seen what happens, you’ve seen the way others are treated that are so bad and so evil. I know how you feel, but go home and go home in peace.”

Twitter quickly locked down the tweet, making it impossible to be retweeted or liked “due to a risk of violence.”

Ahead of Trump’s video, Joe Biden appeared on TV and called on President Donald Trump to go on television to demand an end to what he called a “siege” of the U.S. Capitol.

“The scenes of chaos at the Capitol do not reflect a true America,” Biden said Wednesday in a speech in Wilmington, Delaware. “They do not represent who we are. What we are seeing is a small number of extremists dedicated to lawlessness.”

“I call on this mob to pull back allow the work of democracy to go forward,” he said. “I call on President Trump to go on national television now to fulfill his oath and defend the Constitution and demand an end to this siege.”

Biden said that presidents “at their worst can incite” action, without directly blaming Trump for his political supporters storming the Capitol, disrupting congressional certification of Biden’s Electoral College victory.

“It’s not protest,” Biden said. “It’s insurrection.”

iv) Swamp commentaries)

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

Tuesday’s

The FT: European countries set to extend lockdowns as Covid cases surge – Highly contagious mutations send infection rate soaring as EU comes under fire for slow vaccine rollout

Germany is preparing to extend its nationwide lockdown until the end of January as governments across Europe consider prolonging or strengthening restrictions to battle highly contagious mutations of coronavirus…  https://www.ft.com/content/3292fc38-7945-4d7e-b8ed-582146ebe782

U.S. final manufacturing PMI ends 2020 at six-year high: IHS Markit

IHS Markit said its manufacturing PMI climbed to 57.1 in December from 56.7 in November. The index also improved from its preliminary – or “flash” – reading in mid-December of 56.5, with a reading above 50 signaling expansion in activity…  https://in.reuters.com/article/us-usa-economy-pmi-idINKBN2991MF

Markit: Amid a significant deterioration in vendor performance, cost burdens and selling prices soared, as firms sought to partially pass on higher input pricesFirms were able to partially pass on higher costs, however, as selling prices increased at the sharpest rate since May 2011

https://www.markiteconomics.com/Public/Home/PressRelease/09b26f3d6bbd42308734b4a196abaa5e

US stocks rebounded in the early afternoon, partly on a report that the Trafalgar Group’s new polls show Senator David Perdue (R-GA) leading Jon Ossoff (D-GA) by 2 points, and Senator Kelly Loeffler (R-GA) leading Raphael Warnock (D-GA) by 6 points.

The rally ended at 14:00 ET.  ESHs and stocks did a slow rollover into the final hour.  Then, someone started the usual last-hour upward manipulation.  Were some traders getting long for an expected Turnaround Tuesday to the upside?

Chinese billionaire Jack Ma not seen since attack on officials, skips his TV show https://trib.al/nMRSaVB

Risk of False Results with the Curative SARS-Cov-2 Test for COVID-19: FDA Safety Communication – The U.S. Food and Drug Administration (FDA) is alerting patients and health care providers of the risk of false results, particularly false negative results, with the Curative SARS-Cov-2 test(Is the FDA and related Deep Staters now transitioning to downplay Covid risks to abet Biden?)

https://www.fda.gov/medical-devices/safety-communications/risk-false-results-curative-sars-cov-2-test-covid-19-fda-safety-communication

DJT and Biden had rallies in Georgia yesterday.  Not one single MSM outlet commented on the size of Biden’s crowd or showed video of it.  In the evening, an estimated crowd of 25,000+ greeted DJT.  Tell us again how the presidential vote was legitimate.

Trump at his Georgia rally last night: “Watch what happens over the next couple of weeks. You watch what’s going to come out. Watch what’s going to be revealed… If you’re the President of the United States and you get defrauded out of an election, and the Supreme Court tells you don’t have standing? What kind of justice system is that?

Georgia Republican Secretary of State Brad Raffensperger was placed into office in the Georgia House of Representatives in 2015 by a powerful network of Mandarin-speaking Chinese people in the United States of America. NATIONAL FILE has obtained video of Raffensperger speaking at an event with Mandarin-speaking Chinese people, begging the Chinese people to get him more than 100 votes to secure his victory in the election (which he ended up winning by 159 votes). A Mandarin-language newspaper even explained the strategy to place Raffensperger into office by use of “absentee ballots” that could be obtained by one Chinese person and distributed to others. Raffensperger is trying to stop Communist China’s geopolitical foe President Donald Trump from gaining a proper accounting of the votes in the 2020 presidential election… https://nationalfile.com/caught-on-tape-brad-raffensperger-begged-for-illegal-chinese-votes/

@PatrickByrne: Last night in CobbCounty, Georgia (neighboring Atlanta) some shredded ballots were in the hands of law-enforcement. DHS agents shifted through. Found: Chinese shipping receipt + unshredded ballots (already confirmed counterfeit).

Gingrich: Zuckerberg ‘Corruption’ Raises ‘Enormous Questions about the Legitimacy of the Biden Potential Presidency’ – “Zuckerberg and Facebook, they put in $400 million basically renting city governments and getting them to maximize turnouts and precincts that they couldn’t carry, which is a direct violation of the 2002 voting act by Congress, which says that you have to have a fair effort across the board. You can’t just select areas you’re going to try to maximize turn out in. So, I think just the $400 million that Zuckerberg put in to maximizing Democratic turnout, by itself, is a big enough corruption that it raises enormous questions about the legitimacy of the Biden potential presidency.”  https://www.breitbart.com/clips/2021/01/03/gingrich-facebook-efforts-raise-enormous-questions-about-legitimacy-biden-potential-presidency/

Kamala Harris accused of plagiarizing MLK anecdote in October interview with Elle magazine

Critics say story told by VP-elect resembles 1965 reminiscence by King

https://www.foxnews.com/politics/kamala-harris-mlk-plagiarism

Parts of the USA have willingly entered into dystopia.

A New York Bill to Imprison and Forcibly Vaccinate People without Due Process Could Soon Be Reality – On Wednesday, New York assemblymen will be asked to vote on a bill that would authorize the governor and/or health officials to take custody of New Yorkers, imprison them and forcibly vaccinate them without due process…The bill, introduced by Assemblyman N. Nick Perry (District 58) is titled Assembly Bill A416 and describes itself as a “[an act] to amend the public health law, in relation to the removal of cases, contacts and carriers of communicable diseases who are potentially dangerous to the public health.”…

https://www.westernjournal.com/krisanne-hall-new-york-bill-imprison-forcibly-vaccinate-people-without-due-process-soon-reality/

Dallas Police Department Eyeing no longer responding to stolen cars, criminal mischief, reckless damage   https://www.sofmag.com/dallas-police-department-eyeing-no-longer-responding-to-stolen-cars-criminal-mischief-reckless-damage/

Large weekend protests in Minneapolis over police-involved death

Dolal Idd shot at police last week and was killed when officers shot back at him.

https://justthenews.com/nation/crime/large-weekend-protests-minneapolis-over-police-involved-death

Starting in March, speed camera tickets will be issued in Chicago for drivers 6 mph over limit http://dlvr.it/RpvMxx

@JustTheNews: @AlanDersh on @realDonaldTrump phone call with @GaSecofState: “Every major media is taking it out of context…I went through every word of that transcript, there is no crime there, period.”    https://twitter.com/JustTheNews/status/1346285467050926088

Given that the MSM routinely publishes fake news, we don’t know what or who to believe anymore.

end

WEDNESDAY

Why would Saudi Arabia agree to cut oil production and allow their nemesis in the Middle East, Russia, to profit?  Why would Saudi Arabia agree to cut oil production when oil prices are rising and global demand is forecast to recede due to Covid lockdowns?

Historically, when the dollar has cratered, OPEC demands higher oil prices because most oil contracts are denominated in dollars.  However, there could be another dynamic at play.  What is Saudi Arabia’s biggest concern?  It’s Iran, specifically Iran with atomic weapons.  The reason that Trump was able to foster so many Israel peace deals in the Middle East is that a coalition was formed to thwart Iran.

Biden has stated that he will renew Obama’s appeasement of Iran.  This will boost Iran and hurt Saudi Arabia.  Higher gas prices will hurt US consumers.  There is a stronger correlation between gas prices and presidential approval ratings than with stock prices.  Did the Saudis just issue a warning to Biden/Obama?

Daniel Horowitz @RMConservative: With no lockdown or mask mandate, Florida has roughly same hospitalization level as 2018 flu season

https://www.theblaze.com/op-ed/horowitz-with-no-lockdown-or-mask-mandate-florida-has-roughly-same-hospitalization-level-as-2018-flu-season

Rate of Adverse Reactions to COVID Vaccines Already 50x Higher than Flu Shot

https://www.zerohedge.com/covid-19/rate-adverse-reactions-covid-vaccines-already-50x-higher-flu-shot

In Bizarre Flipflop, NYSE Ignores Trump Executive Order, Refuses To Delist China Telcos

https://www.zerohedge.com/markets/bizarre-flipflop-nyse-ignores-trump-executive-order-refuses-delist-china-telcos

Macy’s Closing Chicago’s Mag Mile Store – The store will hold a going-out-of-business sale for the next 8 to 12 weeks before closing its doors for good, the Chicago Tribune reports

https://patch.com/illinois/chicago/macys-close-department-store-chicagos-magnificent-mile

The U.S. Has Lost More Than 110,000 Restaurants, Setting the Stage for a Commercial Real Estate Collapse of Epic Proportions

“The restaurant industry simply cannot wait for relief any longer,” Sean Kennedy, executive vice president of public affairs at the association, said in a letter to Congress. “What these findings make clear is that more than 500,000 restaurants of every business type — franchise, chain and independent — are in an economic free fall.”  This is what an economic depression looks like…

 Multifamily will take a haircut but will survive. My guess is that industrial, while overpriced and overvalued, will produce enough income to get by. Office and retail? Kiss it goodbye. It’s done. Over. Kaput… The coming commercial real estate crisis is going to make the subprime mortgage meltdown of 2008 and 2009 look like a Sunday picnic Unfortunately, most Americans still don’t understand what is happening, and most of them have no idea that economic conditions will soon get even worse.

http://themostimportantnews.com/the-u-s-has-lost-more-than-110000-restaurants-setting-the-stage-for-a-commercial-real-estate-collapse-of-epic-proportions/

Today is the Elector College vote.  Only God knows what will transpire.  Don’t guess, wait & watch. ESHs traded -7.25 early last night.  They rebounded to +16.50 after CNN reported that the Fulton County (Atlanta) Elections Director declared that 78,000 fewer votes than in November are expected.  This was bad news for the Dem candidates, Warnlock and Osso.  The rally last night reversed when CNN reported Gabriel Stirling, an independent contractor, said Georgia election officials will allow an extra three hours to process (craft?) absentee and mail-in ballots.  Traders feared that another fix was occurring.

Breitbart’s @joshdcaplan: Georgia official Gabriel Sterling on when Senate runoff election outcome will be known: “I would say it’s going to be a couple of days because I’m anticipating it will be a close race…

@kylenabecker: Tremendous “mail in ballot dump” from Fulton Countyblows race back open after having tightened. Now at double digits. Warnock: 55.7%Loeffler: 44.3%Ossoff: 55.2%Perdue: 44.8%

Polls show Georgia swing voters are upset with Mitch McConnell for blocking the $2k payments.  As soon as Georgia runoff results showed Dems with big leads, the MSM and GOPe types surfaced to blame DJT for the looming GOP defeat.  That might play with DJT haters; but with GOP and swing voters, Mitch and the GOPe are the villains. Plus, in their haste to rid the GOP of Trump, McConnell and the GOPe did nothing, again, to curtail vote fraud.  The GOPe was about to go down in flames in Atlanta.

GOP Sen. Scott of South Carolina got slammed for stating that he won’t object to the Electoral College Vote.  So, Scott is trying to assuage GOP voter anger.  You can expect other GOPe types to mimic Scott.

Scott to Introduce Bill Establishing Election Integrity Commission

“My bill will establish an Election Integrity Commission that would study the merits and administration of the November 2020 election and make recommendations to State legislatures to improve the security, integrity, and administration of federal elections… now more than ever before is it our duty to regain the trust of the American voter.”… [Why do legislators need to regain trust if the election was fair?]

    The Advisory Committee will submit two reports:  The initial report will include precinct-by-precinct data highlighting the number and incidence of any improper and fraudulent voter registrations and improper and fraudulent votes that were cast in the election.  [Why is this needed for a true election?]

    The final report will include recommendations on best practices that each level of local and State Government should adopt for: administering elections for federal office during a pandemic and other national emergencies; mitigating fraud and increasing the integrity and security of mail-in ballots, absentee ballots, and vote-by-mail procedures; and preventing improper or fraudulent votes from being cast and stop improper voters from being registered [Again, why is this needed for a fair election?]

https://www.scott.senate.gov/media-center/press-releases/scott-to-introduce-bill-establishing-election-integrity-commission

Why does America need an ‘Election Integrity Commission’ if the November Election was secure and valid?  If the election was not valid, why aren’t you objecting to the Electoral College Vote, Sen. Scott?

@paulsperry_: In hundreds of cases in Georgia, ACLU-trained poll workers issued voter access cards to people who had already voted absentee, ignoring status messages that appeared on their electronic Poll Pads showing they had applied for an absentee ballot… The suspiciously pristine Biden mail-in ballots auditors flagged in Fulton County not only had no mailing creases and not only appeared to be on different paper stock, but also contained perfectly filled-out ovals that appeared to be marked with toner instead of by hand

The American Elite Declares Its Independence from America

After all, it is not the coronavirus, which has a 99.7% survival rate, that has plunged nearly 8 million Americans into poverty over the last nine months while destroying 40% or more of local stores and restaurants even in wealthy states like New Jersey…

Facebook, Twitter, and Google did their part by blocking negative stories about the Biden family’s lucrative involvement with China from reaching the public before the election—earning seats for their executives on the Biden transition team. All in all, it seems fair to say that the top-down merger of corporate monopoly and party interests that is taking place in Washington looks a lot more like China than it does like America

The American political and corporate establishment saw China’s massive workforce and growing consumer market as the linchpin of the new economic order—globalism, the flat, borderless world that the New York Times columnist and others had written about with great optimism…

Friedman’s 2009 article is important today because it marks the historical moment early in Obama’s first term when a segment of the country’s establishment defected en masse from the Republican to the Democratic Partythus unifying the American elite under a single political banner

  “Globalization has neutered the Republican Partyleaving it to represent not the have-nots of the recession but the have-nots of globalized America…   

    And in return for abolishing large sections of the economy along with large chunks of the U.S. Constitution, what vital matters of state and society has this establishment addressed, and what great innovations has it inspired? Whose poverty has it alleviated by waging war on Americans, by shipping their jobs overseas… and by throwing open the country’s borders to immigrants, whether legal or illegal, to take the remaining jobs, at a time of radical social and economic dislocation? Whose interests does a new wave of immigration serve? The answer isn’t American workers or families. It’s large corporations who want skilled and unskilled labor on the cheap…

It’s easier to control people when they’re scared and poor. If the goal is social transformation, which is the term that Biden and Harris use, then it stands to reason that the poorer and more desperate people there are, the better. How about a $600 check from the government in return for us taking away your business and your right to work with no legislative or judicial authority? the political, corporate, cultural and academic elite of the richest and most powerful country on Earth decided they weren’t rich and powerful enough and broke their unwritten compact with the rest of society in the hopes of getting richer and more powerful…  https://www.tabletmag.com/sections/news/articles/american-elite-tom-friedman

Romney Boards Flight to DC FILLED With Patriots Who Chanted ‘Traitor’ and Grilled Him about Ties to Biden  https://www.thegatewaypundit.com/2021/01/watch-romney-boards-flight-dc-filled-patriots-chanted-traitor-grilled-ties-biden/

Well that is all for today

I will see you THURSDAY night.

2 comments

  1. […] by Harvey Organ, Harvey Organ Blog: […]

    Like

Leave a Reply

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

WordPress.com Logo

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

Google photo

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

Twitter picture

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

Facebook photo

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

Connecting to %s

%d bloggers like this: