JAN 14//GOLD DOWN $2.75 TO $1853.00//SILVER UP 19 CENTS TO $25.69//GOLD TONNAGE STANDING RISES AGAIN, UP TO 5.75 TONNES//SILVER OZ STANDING SURPRASSES 5 MILLLION OZ//CORONAVIRUS COMMENTARIES//SIMON BLACK A MUST READ//IRAN ASSEMBLES KEY COMPONENTS IN THEIR MAKING OF A NUCLEAR BOMB//SOME ELECTION STORIES//SWAMP STORIES FOR YOU TONIGHT///

GOLD::$1853.00 down   $2.75   The quote is London spot price

Silver::$25.69 UP $0.19   London spot price GOLD( cash market)

your data…

Closing access prices:  London spot

i)Gold : 1846.00  LONDON SPOT  4:30 pm

ii)SILVER:25.50  //LONDON SPOT  4:30 pm

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EXECUTIVE ORDER 13848

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

COMEX DATA

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

receiving today:     17/36

DLV615-T CME CLEARING
BUSINESS DATE: 01/13/2021 DAILY DELIVERY NOTICES RUN DATE: 01/13/2021
PRODUCT GROUP: METALS RUN TIME: 20:45:55
EXCHANGE: COMEX
CONTRACT: JANUARY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,853.600000000 USD
INTENT DATE: 01/13/2021 DELIVERY DATE: 01/15/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
332 H STANDARD CHARTE 1
435 H SCOTIA CAPITAL 6
657 C MORGAN STANLEY 2
661 C JP MORGAN 4
661 H JP MORGAN 13
690 C ABN AMRO 6
737 C ADVANTAGE 36 4
____________________________________________________________________________________________

TOTAL: 36 36
MONTH TO DATE: 1,643

ISSUED 0

GOLDMAN SACHS STOPPED 0 CONTRACTS.

TOTAL NUMBER OF NOTICES FILED TODAY:   36 NOTICES FOR 3600 OZ  (0.1119 TONNES)

TOTAL NUMBER OF NOTICES FILED SO FAR:  1643 NOTICES FOR 164,300 OZ  (5.110 tonnes) 

SILVER//JAN CONTRACT

120 NOTICE(S) FILED TODAY FOR 600,000  OZ/

total number of notices filed so far this month: 627 for 4,635,000  oz

BITCOIN MORNING QUOTE  $38,096   UP  $793

BITCOIN AFTERNOON QUOTE.  :$39, 573 UP $3389 .

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

GLD AND SLV INVENTORIES:

WITH GOLD DOWN $2.75 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 GOLD INVENTORY AT THE GLD// A WITHDRAWAL OF 10.50 TONNES FROM THE GLD.

INVENTORY RESTS AT:

GLD: 1,171.21 TONNES OF GOLD//

WITH SILVER UP 19 CENTS TODAY: AND WITH NO SILVER AROUND:

A HUGE CHANGE OF SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF 1.392 MILLION OZ FROM THE SLV..

INVENTORY RESTS AT :

SLV: 556.319  MILLION OZ./

XXXXXXXXXXXXXXXXXXXXXXXXX

Let us have a look at the data for today

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IN SILVER THE COMEX OI FELL BY A SMALL SIZED 771 CONTRACTS FROM 170,033 DOWN TO 169,262, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE SMALL SIZED LOSS IN COMEX OI  OCCURRED DESPITE OUR  GAIN OF $0.13 IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE LOSS IN COMEX OI IS  DUE TO HUGE BANKER AND ALGO SHORT COVERING, COUPLED AGAINST A SMALL EXCHANGE FOR PHYSICAL. WE  HAD SOME LONG LIQUIDATION, AND A STRONG GAIN IN  SILVER OUNCES  STANDING AT THE COMEX FOR JAN. WE ALSO HAD A SMALL LOSS IN OUR TWO EXCHANGES OF 649 CONTRACTS (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  122, AS WE HAD THE FOLLOWING ISSUANCE:    MARCH 122 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  122 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.

5.485 MILLION INITIAL STANDING FOR JAN 2021

WEDNESDAY, AGAIN OUR CROOKED BANKS//BIS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE $0.13) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY  SILVER LONGS AS WE HAD A SMALL LOSS  IN OUR TWO EXCHANGES (649 CONTRACTS). NO DOUBT THE GAIN IN OI ON THE TWO EXCHANGES WAS DUE TO i) MONSTER  BANKER/ STRONG ALGO SHORT COVERING.  WE ALSO HAD  ii)  A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A STRONG GAIN IN STANDING FOR IN SILVER OZ STANDING FOR JAN, iii) SMALL COMEX OI LOSS AND iv) ZERO LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

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:

9803 CONTRACTS (FOR 9 TRADING DAY(S) TOTAL 9803 CONTRACTS) OR 49.01 MILLION OZ: (AVERAGE PER DAY 1089 CONTRACTS OR 5.446 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JAN: 49.01 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:          49.01 MILLION OZ.

JAN EFP ACCUMULATION SO FAR:  49.01 MILLION OZ   (RAPIDLY INCREASING AGAIN)

RESULT: WE HAD A FAIR SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 691, DESPITE OUR  $0.13 GAIN IN SILVER PRICING AT THE COMEX //WEDNESDAY.…THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 122 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE LOST A SMALL  SIZED 569 OI CONTRACTS ON THE TWO EXCHANGES  (DESPITE OUR  $0.13 GAIN IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  122 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A SMALL SIZED DECREASE OF 771 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.13 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $25.50 // WEDNESDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.8440- BILLION OZ TO BE EXACT or 120% of annual global silver production (ex Russia & ex China).

FOR THE NEW JAN  DELIVERY MONTH/ THEY FILED AT THE COMEX: 120 NOTICE(S) FOR 600,000  OZ OF SILVER.

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

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

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 5888 CONTRACTS TO 551,542 AND FURTHER FROM  OUR  NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE LOSS IN COMEX OI OCCURRED DESPITE OUR RISE IN PRICE  OF $11.50 /// COMEX GOLD TRADING//WEDNESDAY. WE  HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR GOOD SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD  ZERO LIQUIDATION. WE  HAD A STRONG GAIN IN THE  AMOUNT OF GOLD STANDING FOR DELIVERY IN JANUARY/:(GOLD NOW STANDING JAN. (AT 5.7511 TONNES) .THIS ALL HAPPENED WITH OUR RISE IN PRICE OF $11.50

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  27//

WE HAD A SMALL GAIN OF 1056 CONTRACTS   ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A GOOD SIZED 6944 CONTRACTS:

CONTRACT .;JAN  FEB: 4744  AND APRIL 21: 2200 ALL OTHER MONTHS ZERO//TOTAL: 6944.  The NEW COMEX OI for the gold complex rests at 549,650. 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 INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1056 CONTRACTS: 5888 CONTRACTS DECREASED AT THE COMEX AND 6944 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN//TWO EXCHANGES OF 1056 CONTRACTS OR 3.284 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (6944) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI  (5888 OI): TOTAL GAIN IN THE TWO EXCHANGES: 1,056 CONTRACTS. WE NO DOUBT HAD  1)  HUGE BANKER SHORT COVERING AND SOME ALGO SHORT COVERING ,2 STRONG GAIN IN GOLD STANDING AT THE GOLD COMEX FOR THE FRONT JAN. MONTH AT 5.7511 TONNES3)  ZERO LONG LIQUIDATION ;4) FAIR COMEX OI LOSS,  5) GOOD SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL….ALL OF THIS OCCURRED WITH  OUR GAIN IN GOLD PRICE TRADING/WEDNESDAY//$11.50.

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 : 52,096 CONTRACTS OR 5,209,600 oz OR 162.04 TONNES (9 TRADING DAY(S) AND THUS AVERAGING: 5788 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 9 TRADING DAY(S) IN  TONNES: 162.04  TONNES

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

THUS EFP TRANSFERS REPRESENTS 162.04/3550 x 100% TONNES =4.56% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE: JANUARY: 162.04 TONNES (RAPIDLY 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, FELL BY A SMALL SIZED 771 CONTRACTS FROM 170,033 UP TO 169,266 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

THE SMALL SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1) HUGE BANKER SHORT COVERING//ALGO SHORT COVERING//// , 2) A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A STRONG INCREASE IN  STANDING FOR SILVER  AT THE COMEX FOR JAN DELIVERY MONTH., AND 4) TINY IF ANY LONG LIQUIDATION 

EFP ISSUANCE 122 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:  122  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 122 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 771 CONTRACTS TO THE 122 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A LOSS OF 649 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 3.245 MILLION  OZ, OCCURRED WITH OUR $0.13 GAIN IN PRICE///

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

(report Harvey)

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

3. ASIAN AFFAIRS

i)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 32.75 PTS OR .91%   //Hang Sang CLOSED UP 261.26 PTS OR .93%    /The Nikkei closed UP 241.67 POINTS OR 0.85%//Australia’s all ordinaires CLOSED UP 0.42%

/Chinese yuan (ONSHORE) closed UP AT 6.4652 /Oil DOWN TO 52.79 dollars per barrel for WTI and 55.72 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT SPAIN//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4652. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4632 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY BY A FAIR SIZED 5888 CONTRACTS TO 551,542 AND FURTHER FROMOUR   RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS COMEX DECREASE OCCURRED DESPITE OUR RISE OF $11.30 IN GOLD PRICING WEDNESDAY’S COMEX TRADING/).

 WE HAD A GOOD SIZED EFP ISSUANCE (6944 CONTRACTS).  WE THUS HAD  1)  HUGE 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 5.7511 TONNES)/ 4)   AS WE ENGINEERED A SMALL SIZED GAIN ON OUR TWO EXCHANGES OF 1,056 CONTRACTS. WE HAVE LATELY WITNESSED THE EXCHANGE FOR PHYSICALS ISSUED BEING SMALL. HOWEVER IN THE PAST FEW DAYS, EFP  ISSUANCE HAS BEEN RISING AS I GUESS THERE IS NOWHERE ELSE TO GO.  THE BANKERS ARE FORCED TO PAY THEIR HIGHER FEES FOR THEIR ISSUANCE. 

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT   27

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF JAN..  THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 6944 EFP CONTRACTS WERE ISSUED: JAN 0 FEB// ’21 4744 AND APRIL ’21: 2200 AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 6944  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: A SMALL 1056 TOTAL CONTRACTS  IN THAT 6944 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A FAIR SIZED 5888 COMEX CONTRACTS.. WE HAVE A STRONG LEVEL OF JAN 2021 GOLD CONTRACTS STANDING FOR DELIVERY. ((5.7511 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 11.30). AND, THEY WERE  UNSUCCESSFUL IN FLEECING ANY  LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED  3.284 TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR JAN (5.7511 TONNES)

NET GAIN ON THE TWO EXCHANGES :: 1056 CONTRACTS OR 105,600 OZ OR  3.284  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:  549,650 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 54.96 MILLION OZ/32,150 OZ PER TONNE =  1709 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1709/2200 OR 77.70% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY 313,103 contracts// volume//better

CONFIRMED COMEX VOL. FOR YESTERDAY:

329,054 contracts//  volume: better///

/most of our traders have left for London

JAN14 /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
36 notice(s)
3600 OZ
(0.1119 TONNES)
No of oz to be served (notices)
206 contracts
(20600 oz)
0.6407 TONNES
Total monthly oz gold served (contracts) so far this month
1643 notices
164,300 OZ
5.110 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 deposits 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: 0//

The front month of JAN registered a total of 242 contracts for a GAIN of  13. We had  115 notices filed on Tuesday so we GAINED 128 contracts or AN ADDITIONAL 12,800 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. This is a strong queue jump

FEBRUARY LOST 28,489 contracts DOWN TO  282,631 CONTRACTS.

MARCH GAINED 44 contracts to stand at 801

APRIL added 20,863 contracts to stand at 189,588

We had  115 notice(s) filed today for  11,500 oz

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 36  contract(s) of which 4  notices were stopped (received) by j.P. Morgan dealer and 13 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 /2021. contract month, we take the total number of notices filed so far for the month (1643) x 100 oz , to which we add the difference between the open interest for the front month of  (JAN 242 CONTRACTS ) minus the number of notices served upon today (36 x 100 oz per contract) equals 184,900 OZ OR 5.7511 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 (1643 x 100 oz  PLUS {242 OI) for the front month minus the number of notices served upon today (36} x 100 oz which equals 184,900oz standing OR 5.7511 TONNES in this non  active delivery month of January. This is a STRONG amount  standing for GOLD IN  JAN  (generally one of the weakest of all delivery months of the year). 

We gained 128 contracts or a queue jump of 12,800 oz of gold. These longs refused to morph into London based forwards.

NEW PLEDGED GOLD:  BRINKS

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

84,274.333 PLEDGED  APRIL 3/2020: SCOTIA:2.148 TONNES

270,456.695 oz  JPM  8.41 TONNES

1,000,836.682 oz pledged June 12/2020 Brinks/30.198 TONNES

58,417.994 oz Pledged August 21/regular account 1.96 tonnes JPMORGAN

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

6,308.08 oz International Delaware:  .196 tonnes

968,144.854 Malca

total pledged gold:  2,061,771.588 oz                                     64.129 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 525.18 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 5.353 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  18,931,385.036 oz or 588.84 tonnes
total weight of pledged:  2,061,771.588 oz or 64.129 tonnes
thus:
registered gold that can be used to settle upon: 16,884809.0  (525,18 tonnes)
true registered gold  (total registered – pledged tonnes  16,884809.0 (525.18 tonnes)
total eligible gold: 19,358,990.936 , oz (602.14 tonnes)

total registered, pledged  and eligible (customer) gold  38,290,375.973 oz 1,190.99 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1064.65 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  14/2021

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
32,729.979 oz
CNT
Delaware
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
1,012,674.220 oz
JPMorgan
Delaware
Scotia
No of oz served today (contracts)
120
CONTRACT(S)
(600,000 OZ)
No of oz to be served (notices)
170 contracts
 ,850,000 oz)
Total monthly oz silver served (contracts)  927 contracts

4,635,000 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 deposit into the customer account (ELIGIBLE ACCOUNT)

JPMorgan now has 192.769 million oz of  total silver inventory or 48.69% of all official comex silver. (192.769 million/395.867 million

total customer deposits today: 1,192,426.270    oz

we had 2 withdrawal:

i) Out of Delaware:7,828.849 oz
ii) Out of CNT:  24,911.138 oz

total withdrawals 32,739.979 oz

We had 0 adjustments:

Total dealer(registered) silver: 151.038million oz

total registered and eligible silver:  395.829 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Jan saw a LOSS of 74 contracts  DOWN to 290 contracts. We had 195 notices filed on TUESDAY so we GAINED 121 contracts or 605,000 oz will stand in this non active delivery month of January.  They refused to  morph into London based forwards and as such refused to receive a fiat bonus. The search is on for silver on this side of the pond.

FEBRUARY saw another loss of 1 contract to stand at 725.  MARCH lost 1186 contracts down to 136,044.

The total number of notices filed today for JAN 2021. contract month is represented by 120 contract(s) FOR 600,000 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 927 x 5,000 oz = 4,635,000 oz to which we add the difference between the open interest for the front month of JAN (290) and the number of notices served upon today 120 x (5000 oz) equals the number of ounces standing.

Thus the JAN standings for silver for the JAN/2021 contract month: 927 (notices served so far) x 5000 oz + OI for front month of JAN(290)- number of notices served upon today (120) x 5000 oz of silver standing for the NOV contract month .equals 5,485,000 oz. ..VERY STRONG FOR A NON ACTIVE  JAN MONTH.

WE GAINED 121 CONTRACTS OR  605,000 ADDITIONAL OZ WILL STAND FOR DELIVERY OVER HERE.

TODAY’S ESTIMATED SILVER VOLUME 82,517 CONTRACTS // volume  better

FOR YESTERDAY  68,399  ,CONFIRMED VOLUME// poor//

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- 2.02% ((JAN 14/2021)

2. Sprott gold fund (PHYS): DISCOUNT to NAV  FALLS TO 2.04% to NAV:   (JAN 13/2021 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into NEGATIVE/2.02% (JAN 14)

(courtesy Sprott/GATA

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

NAV 19.86 TRADING 18.86///NEGATIVE 2.57

END

And now the Gold inventory at the GLD

JAN 14.WITH GOLD DOWN $2.75 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 10.50 TONNES FROM THE GLD.//INVENTORY RESTS AT 1171.21 TONNES

JAN 13/WITH GOLD UP $11.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1181.71 TONNES

JAN 12/WITH GOLD DOWN $6.70  TODAY;A HUGE CHANGES IN GOLD INVENTORY AT THE GLD// A WITHDRAWAL OF .400 TONNES FROM THE GLD..//INVENTORY RESTS AT 1181.71 TONNES

JAN 11/WITH GOLD UP $14.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1182.11 TONNES

JAN 8//WITH GOLD DOWN $75.70 : A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.57 TONNES FROM THE GLD//INVENTORY RESTS AT 1182.11 TONNES

JAN 7/WITH GOLD UP $5.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1186.78 TONNES

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  14 / GLD INVENTORY 1171.21 tonnes

LAST;  980 TRADING DAYS:   +236.44 TONNES HAVE BEEN ADDED THE GLD

LAST 880 TRADING DAYS// +405.07  TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

Now the SLV Inventory

JAN 14.WITH SILVER UP 19 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 1.392 MILLION OZ FORM THE SLV//INVENTORY AT 556.319 MILLION OZ//

JAN 13/WITH SILVER UP 19 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 557.713 MILLION OZ//

JAN 12/WITH SILVER UP 19 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV: 2 WITHDRAWALS OF 2.788 MILLION OZ AND 1.998 MILLION FROM THE SLV////INVENTORY RESTS AT 557.713 MILLION OZ//

JAN 11/WITH SILVER UP 68 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV///INVENTORY RESTS AT 562.499 MILLION OZ//

JAN 8/WITH SILVER DOWN $2.57 TODAY; NO CHANGE IN SILVER INVENTORY AT THE SLV..INVENTORY RESTS AT 562.499 MILLION OZ//

JAN 7/WITH SILVER UP 26 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 392,000 OZ FROM SLV INVENTORY///INVENTORY RESTS AT 562.499 MILLION OZ/

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/

JAN14.2021:

SLV INVENTORY RESTS TONIGHT AT  556.319 MILLION OZ

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

ii) Important gold commentaries courtesy of GATA/Chris Powell

Turkish citizens realize that their country is in deep financial trouble.  They have loaded up on gold waiting for the inevitable hyperinflation to take gold of Turkey.

(National Interest/Washington/GATA)

Turkey’s frantic gold rush points to a financial crisis

 Section: 

By Aykan Erdemir and John Lechner
The National Interest, Washington
Friday, January 8, 2021

The Turkish economy is “a train wreck in slow motion,” in the words of one former central banker.

The Turkish lira, which lost 20 percent of its value against the U.S. dollar last year, was one of the worst-performing currencies in the world in 2020. Foreign currency reserves nosedived deep into the red if one accounts for Ankara’s liabilities to local banks. And economy czar Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, hasn’t been seen in public since he resigned via Instagram on Nov. 8.

… 

But an even better gauge of this slow-rolling economic crisis is the Turks’ frantic rush for gold. Since last year Turkish firms and retail investors almost tripled their gold holdings to $36 billion. This is in addition to the 3,000 to 5,000 metric tons of the metal they keep at home, worth between $186 billion to $310 billion at current market prices.

The rush to import gold to meet skyrocketing demand has wreaked havoc on Turkey’s trade deficit, with the January-November shortfall widening to $45 billion, nearly doubling compared to last year.

Seasoned by prior episodes of hyperinflation, currency devaluation, and bank failures, which together destroyed fortunes overnight, Turks have developed an uncanny sense for risks ahead. In fact, the Turkish public’s turn to gold may offer a better indicator of stress in the financial system than the usual macroeconomic indicators, which can predict the system’s trajectory but not exact timing. …

… For the remainder of the report:

https://nationalinterest.org/blog/buzz/turkey%E2%80%99s-frantic-gold-rus…

END

International banks are warning of market chaos if the court abolishes libor.

(Bloomberg/Gata)

International banks warn of market chaos if court abolishes LIBOR

 Section: 

By William Shaw and Joel Rosenblatt
Bloomberg News
via BNN/Bloomberg, Toronto
Tuesday, January 12, 2021

Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate LIBOR after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.

Defendants in the case, including JPMorgan Chase & Co., Credit Suisse Group AG, and Deutsche Bank AG, said in a November filing that an injunction abruptly ending the London interbank offered rate would wreak havoc on financial markets and undermine years of work reforming the reference rate. The plaintiffs, which include 27 consumer borrowers and credit card users, are also seeking monetary damages.

Attorneys not involved in the case say the chances of an injunction are slim. Yet it underscores the risks and legal costs for banks that continue to prop up LIBOR, which still underpins hundreds of trillions of dollars of financial assets around the world. It also highlights the fragility of the discredited benchmark, which in theory could be halted by a single court decision.

“You have to take it seriously because it would be a catastrophe if it was granted,” said Anne Beaumont, a partner at law firm Friedman Kaplan Seiler & Adelman LLP. “They’re likely going to continue to get sued like this as long as it’s there.” …

… For the remainder of the report:

https://www.bnnbloomberg.ca/global-banks-warn-of-market-chaos-if-court-w…

END

Facebooks restricts Ron Paul

(Newsweek/GATA)

Facebook restricts Ron Paul’s account without explanation

 Section: 

By Alexandra Hutzler
Newsweek
Monday, January 11, 2021

Former Republican congressman Ron Paul says he has been blocked by Facebook from managing his account over repeated violations of the social media giant’s “community standards.”

“With no explanation other than ‘repeatedly going against our community standards,’ Facebook has blocked me from managing my page. Never have we received notice of violating community standards in the past and nowhere is the offending post identified,” Paul wrote on Twitter Monday.

… 

The post included a screenshot of his Facebook page, which had the message informing him of his limited functionality. Paul wrote in a second Twitter post that the only thing he put on Facebook Monday was “my weekly ‘Texas Straight Talk’ column, which I have published every week since 1976.” …

… For the remainder of the report:

https://www.newsweek.com/ron-paul-blocked-accessing-facebook-page-over-v…

END

London gold inventory meaningless.

(Ronan Manly)

Ronan Manly: London gold ‘float” likely still tight despite claim of record inventory

 Section: 

9p ET Wednesday, January 13, 2021

Dear Friend of GATA and Gold:

While the London Bullion Market Association is reporting a record total of gold held in London-area vaults, Bullion Star researcher Ronan Manly writes today that the data is so obscured as to be practically meaningless. More likely, Manly suggests, the London gold “float” remains tight, with most of the vaulted metal not really available for trade.

Manly’s analysis is headlined “Behind the Headlines of Record Gold Stocks in London Vaults” and it’s posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/behind-the-headlines-of-re…

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

END

iii) Other physical stories:

Bitcoin Surges Back Above $40,000 Ahead Of Biden Budget Briefing

THURSDAY, JAN 14, 2021 – 11:00

Just three days after plunging to around $30,000, Bitcoin has rebounded aggressively and retaken the Maginot Line of $40,000 this morning, just hours ahead of President-Elect Biden’s announcement of his multi-trillion-dollar economic stimulus plan…

Source: Bloomberg

Ethereum is also on the rise, back above $1200…

Source: Bloomberg

As CoinTelegraph reports, Tyler Winklevoss, co-founder of Gemini exchange, referenced various press reports of a “crash” in Bitcoin as it slid to $30,250 earlier in the week. He told Twitter followers:

“They said #Bitcoin died on Monday, but now it’s above 37k. Don’t listen to the noise, stay focused.”

“Did nocoiners really think #Bitcoin wouldn’t bounce back? This is the year of the Metal Bull. $100k is inevitable,” Blockstream CSO Samson Mow added.

Additionally, crypto enthusiasts got more good news as CoinTelegraph reports that in response to a deluge of comments, the United States Treasury Department’s Anti-Money Laundering office is slowing its roll on a rushed proposal to monitor a whole new range of cryptocurrency transactions.

end

Lagarde calls for global regulations on bitcoin labelling all cryptocurrencies reprehensible

Good luck to her..

(Watson/SummitNews)

ECB’s Lagarde Calls For Global Regulation Of “Reprehensible” Bitcoin

THURSDAY, JAN 14, 2021 – 7:00

Authored by Paul Joseph Watson via Summit News,

President of the European Central Bank Christine Lagarde has called for global regulations on Bitcoin, labeling the cryptocurrency “reprehensible.”

Lagarde made the comments during a Reuters Next conference earlier today, during which she asserted that Bitcoin was not a currency.

“When you look at the most recent developments upward, and now the recent downward trend … for those who have assumed that it might turn into a currency, terribly sorry but this is an asset and it is a highly speculative asset,” she said.

The former head of the IMF, who was previously found guilty of financial negligence by a French court over a €403 million arbitration deal in favor of businessman Bernard Tapie, went on to accuse Bitcoin of being heavily embroiled in criminal activity.

“(Bitcoin) has conducted some funny business and some interesting and totally reprehensible money laundering activity,” said Lagarde.

The ECB head went on to call for Bitcoin to be regulated by financial authorities.

“There has to be regulation. This has to be applied and agreed upon […] at a global level because if there is an escape that escape will be used,” she said.

Globalists and technocrats have long begrudged Bitcoin because it is decentralized and therefore impossible to come under the control of centralized financial institutions. The cryptocurrency has also provided a refuge for dissidents who have been deplatformed by regular financial services and institutions over their politics.

Bitcoin recently soared to a record high above $41,000 dollars but has since fallen back to around $35,000 dollars.

After the cryptocurrency previously hit a record high of above $17,000 dollars at the end of 2017 it then sank bank to around $3,000, emphasizing the wild volatility of the asset.

However, numerous analysts are predicting that growing debt, record money printing and hyperinflation could see Bitcoin soar into the hundreds of thousands over the next year.

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ANDREW MAGUIRE…

OR HERE:

LIVE: From the Vault

Episode 28 of Live from the Vault

We are pleased to announce episode 28 of the live from the vault series is now live.

In the first instalment of gold and silver market analysis of the New Year, Andrew Maguire highlights the important stairsteps and anticipated prices for gold and silver over the next two quarters, and breaks down the impact of official intervention on the first week’s trading of 2021.

The precious metals expert answers some of your questions, addresses the concerns around the supposed bearish nature of the latest COT report and explores the diverging market influence of strong physical demand and new US dollar strength.

Visit the Kinesis Exchange via desktop by clicking here or by downloading our mobile app on either iOS or Android below.

END

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

i) Chinese yuan vs USA dollar/CLOSED UP AT 6.4652 /

//OFFSHORE YUAN:  6.4632   /shanghai bourse CLOSED DOWN 32.75 PTS OR .91%

HANG SANG CLOSED UP 261.26 PTS OR .93%

2. Nikkei closed UP 241.67 POINTS OR 0.85%

3. Europe stocks OPENED ALL GREEN EXCEPT SPAIN/

USA dollar index UP TO 90.33/Euro FALLS TO 1.2145

3b Japan 10 year bond yield: RISES TO. +.03/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 104.04/ 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:: 52.79 and Brent: 55.72

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.54%/Italian 10 yr bond yield UP to 0.66% /SPAIN 10 YR BOND YIELD UP TO 0.08%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.34: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.68

3k Gold at $1840.50 silver at: 25.26   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 40/100 in roubles/dollar) 73.43

3m oil into the 52 dollar handle for WTI and 55 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 104.04 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 .8902 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0813 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.54%

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 1.109% early this morning. Thirty year rate at 1.841%

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

6.  TURKISH LIRA:  UP  TO 7.37..

Stocks, Yields Rise On Expectations Of “Biden’s Trillions”

THURSDAY, JAN 14, 2021 – 8:04

US equities futures and global markets shrugged off President Donald Trump’s second impeachment and focused instead on a report on that Joe Biden will unveil a new U.S. $2 trillion stimulus program later in the day, far bigger than even the most “optimistic” expectations. Yet despite the newfound optimism, Emini futures remained in a tight 20 points range in which they have been stuck since Friday’s payrolls report.

Nasdaq 100 E-minis were flat as heavyweight Tesla Inc dropped 1.3% premarket after the electric-car maker was asked to recall 158,000 Model S and Model X vehicles for touchscreen failures that could lead to safety risks. U.S.-listed shares of Taiwan Semiconductor Manufacturing Co Ltd rose 3.1% after it posted its best-ever quarterly profit and hiked revenue and capital spending estimates to record levels as it forecast “multiple years of growth opportunities”.

“This will be a great year for the economy and earnings, but just a good year for the stock market,” Bob Doll, chief equity strategist at Nuveen, said on Bloomberg TV. “In other words, I think multiples are held back a bit because of modestly rising interest rates and inflation.”

Hopes for the supersized package lifted most major stock markets even as China recorded its first Covid-19 death since April as new clusters continued to expand. Japan’s Nikkei hit a three-decade peak in Asia and Europe opened 0.4% higher as traders there ignored the prospect of another Italian government collapse.

Looking at global markets, Europe’s Stoxx 600 Index gained 0.4% with automakers and miners leading gains among sectors. Carrefour fell as much as 7.4% after the French government expressed opposition to Canada’s Alimentation Couche-Tard buying the company.

Stocks in Japan, Hong Kong, South Korea and Australia also edged higher. Asia stocks extended gains after climbing to a fresh record, with Hong Kong leading the advance on Tencent Holdings Ltd.’s rally. Tencent was the single largest contributor to the MSCI Asia Pacific Index’s gain Thursday. The Chinese internet giant’s shares jumped to a record following media reports that U.S. officials ultimately decided against banning American investment in Alibaba Group Holding Ltd. and Tencent.

“I think the market is relieved,” said Chinese equity portfolio manager at William Blair Investment Management Vivian Lin Thurston. “However, concerns over this risk and therefore volatility of these stocks may continue in the near future until perhaps the new (Biden) administration’s China strategy becomes clear.”

Japan’s Nikkei 225 Stock Average was among the lead gainers, hitting its highest level since August 1990 and taking its surge since late October to 25%. Intel supplier Nikon was among the biggest winners, rising 7.2%. The Topix benchmark rose for a sixth day, following positive data on the country’s machinery orders. Philippine stocks rebounded, reversing morning losses of as much as 0.9% after the government detected the nation’s first case of the new variant of the coronavirus that first appeared in the U.K.

Chinese shares underperformed as investors rotated into some tech stocks that have lagged the broader market’s recent strength, with the CSI 300 Index falling the most in four months after hitting a 13 year high on Wednesday. Chinese data showed exports there grew more than expected in December – pointing to solid global demand – while machinery orders rose for a second straight month in Japan.

As Bloomberg notes, investors betting on an economic recovery this year have been tolerating record stock valuations because they expect further U.S. fiscal spending, even more “stimmy checks” and that vaccines will eventually do something to halt the pandemic. However, with Biden due to take office within days, the transfer of power promises more turbulence. Earlier, the House of Representatives voted to impeach President Donald Trump for a second time, though a Senate trial for Trump likely won’t get underway before his term ends on Jan. 20.

In the bond markets there was starting to be signs of selling again. 10-year Treasury yields  rose two basis points to 1.11% on expectations all the new hot money will spark reflation, while the dollar faded earlier gains.

Treasury yields remained higher by about 2bp at long end of the curve after paring the surge sparked by the report Biden will propose a $2 trillion stimulus package, above virtually all estimates. Gains for bunds and gilts led Treasuries off cheapest levels of the session. Treasury 10-year yield is higher by 2.2bp at 1.11% after touching 1.116% during Asia session following CNN report on relief package; 2s10s is steeper by 2.2bp, 5s30s by 0.7bp, unwinding a portion of  Wednesday’s bull-flattening move. Bunds outperform by 3.5bp, gilts by 3bp amid rout in Italian bonds.

“Finding the right balance will not be easy,” Hussein Sayed, chief market strategist at FXTM, said of the plan. “Opting for a small package will disappoint investors and lead to profit-taking in equity markets.”

“The number one question for global markets and equities will be when will the Fed start tapering,” said Frank Benzimra, head of Asia equity strategy at Societe Generale in Hong Kong. “This is where you can get some concern… but at the moment it is something that is a bit premature.”

Which is why Biden has opted for a “large” package, which however may be a problem too: Luca Paolini, Chief Strategist at Pictet Asset Management, said an ongoing rise in borrowing rates could unsettle markets if they start to accelerate. “It could be a bit difficult,” he said. “Although I would rather have the Fed (U.S. central bank) hiking rates, bond yields at 4%, growth at 5% rather than everything at zero, because it’s more sustainable.”

European yields were being held in place with the region’s stricter COVID lockdowns bolstering bets of more European Central Bank bond buying, but inflation expectation gauges were creeping higher.

In FX, currency markets are taking a little more of a wait-and-see approach, as investors are short dollars and wondering whether the eventual tapering might limit the greenback’s decline. The Bloomberg Dollar Spot Index swung between modest gains and losses; while the yen slipped against all Group-of-10 peers. Sweden’s krona leads gains among G-10 peers, retracing about half of the losses incurred yesterday after the Riksbank announced a change to its FX reserve regime. Australian and New Zealand dollars also among the top performers on the prospect of U.S. stimulus. The pound edged up as it continued to be supported by an unwind of bets on negative rates. The euro showed modest losses at $1.2151 and 126.42 yen with the Italian government on the verge of collapse: “Fresh elections (in Italy) are still very much the outside bet but it does seem we could be on our way to our 132nd Italian government in the last 160 years.” said Deutsche Bank economist Jim Reid.

In commodity markets, oil futures dipped for the second day as fresh surges in coronavirus cases stoke worries about more lockdowns and lower energy demand. Brent crude futures were down 0.5% at $55.75 a barrel and U.S. crude futures were at $52.70. Gold, which has suffered as U.S. yields have climbed traded 0.2% lower at $1,840 an ounce – well below a two-month peak of $1,959 hit a week ago. Bitcoin surged above $38,000 as it became clear that the US is about to unleash a historic spending spree.

On today’s calendar, the number of Americans filing for unemployment benefits increased to 795,000 last week from 787,000, the Labor Department’s report is expected to show, which could underscore the impact of resurgent COVID-19 infections on the job market.

Fed Chair Powell and Biden are scheduled to speak.  Biden is due to outline his economic plans later on Thursday and U.S. Federal Reserve Chairman Jerome Powell will also speak, either one of which could set yields rising again. Other central bank speakers include the Fed’s Rosengren, Bostic and Kaplan, and the ECB’s Hernandez de Cos. Furthermore, the ECB will be releasing the account of their December meeting. The main data release will be the weekly initial jobless claims from the US, while BlackRock will be releasing earnings.

Attention is also shifting to the earnings season with results from JPMorgan and Citigroup and other big banks slated for Friday. First-quarter and 2021 corporate guidance will be key for investors as new lockdowns threaten to push back a recovery in corporate earnings, according to investment banks.

Market Snapshot

  • S&P 500 futures up 0.1% to 3,807.50
  • MXAP up 0.3% to 209.77
  • MXAPJ up 0.2% to 700.16
  • Nikkei up 0.9% to 28,698.26
  • Topix up 0.5% to 1,873.28
  • Hang Seng Index up 0.9% to 28,496.86
  • Shanghai Composite down 0.9% to 3,565.91
  • Sensex up 0.2% to 49,599.21
  • STOXX Europe 600 up 0.5% to 411.04
  • German 10Y yield fell 1.5 bps to -0.537%
  • Euro up 0.02% to $1.2160
  • Italian 10Y yield fell 5.0 bps to 0.489%
  • Spanish 10Y yield fell 1.0 bps to 0.059%
  • Australia S&P/ASX 200 up 0.4% to 6,715.35
  • Kospi up 0.05% to 3,149.93
  • Brent futures down 0.5% to $55.80/bbl
  • Gold spot down 0.2% to $1,841.48
  • U.S. Dollar Index little changed at 90.30

Top Overnight News from Bloomberg

  • China’s export boom continued into December, pushing the trade surplus to a record high in the month and bolstering what is already the world’s best-performing major economyGerman output shrank 5% amid recurring lockdowns and restrictions, according to a preliminary estimate by the statistics office. The government ran a budget deficit of 4.8% of gross domestic product, the biggest since 1995
  • The Riksbank’s decision to revamp its foreign-reserve program has ignited bets that it may use the new set-up to cap the krona’s strength in an effort to revive inflation
  • Shocks to supply chains are engulfing a wider swath of the global economy as the pandemic rages on, threatening to stifle Asia’s trade-led recovery just as soaring freight rates make it harder for businesses to weather another year like 2020

Your 3 month wrap courtesy of Amplify Trading

A quick look at global markets courtesy of Newsquawk

Asian equity markets traded mixed with cautious gains in the major regional bourses after the tech-rebound on Wall St. and better than expected Chinese trade data, although advances were restricted by tentativeness ahead of the upcoming key events stateside including the start of earnings season and President-elect Biden’s stimulus plan announcement. ASX 200 (+0.4%) was higher with outperformance in the tech sector as it drew inspiration from US peers, although Australia’s mining stocks were dragged lower in a reversal of yesterday’s fortunes due to weaker underlying commodity prices and lingering tensions with its largest trading partner China which was said to instruct owners of more than AUD 1bln of banned Australian coal to find buyers elsewhere, while Nikkei 225 (+0.8%) outperformed after Machinery Orders and PPI topped estimates. Hang Seng (+0.9%) and Shanghai Comp. (-0.9%) were varied despite the mostly better than expected Chinese trade data which showed USD-denominated exports rose by 18.1%, as the mainland suffered after US President Trump issued an executive order amendment on investments in Chinese military companies which bans Americans from holding securities of blacklisted Chinese firms from November 11th, although the large tech names in Hong Kong were boosted on relief after reports the US government is expected to let Americans continue to invest in Chinese technology giants Alibaba, Baidu and Tencent. Finally, 10yr JGBs were flat with demand sapped by the outperformance in Japanese stocks and pressure in USTs, although the downside was cushioned amid the BoJ’s presence in the market and with the 152.00 focal remaining on the horizon.

Top Asian News

  • UBS Analysts Say Evergrande May Tumble in Dramatic Sell Call
  • China’s Investors Snap Up Hong Kong Shares at Record Pace: Chart
  • Uniqlo Owner Benefits During Pandemic as Shoppers Seek Out Value
  • Credit Raters Give Indonesia Breathing Room to Rein in Deficit

European equities trade mostly higher but off best levels (Euro Stoxx 50 +0.3%) after the APAC region posted cautious gains as earning season is about to go underway, and ahead of appearances from US President-elect Biden and Fed Chair Powell at two separate events later today. Overnight repots via CNN noted that Biden aides reportedly told allies in Congress that the President-elect’s stimulus plan could be valued about USD 2.0tln which is USD 700bln higher than what Senate Democrat Leader Schumer was calling for earlier – US equity futures show underperformance in the NQ (-0.3%) vs the RTY (+0.8%) which backs the growth to value rotation from the reflationary playbook. Meanwhile, Morgan Stanley suggested investor sentiment is “very bullish” and remarked that the current risk exposure level is the highest in ten years, although the main risks cited include a quicker-than-expected rise in inflation that would the US 10yr yield toward 2%, alongside vaccine disappointments that would reduce or delay return to normality. Back to Europe, broad-based gains are seen across the major indices with the exception of the SMI (-0.2%), dragged lower by losses in heavyweights Nestle (-0.3%) and Roche (-0.6%) as European sectors portray a pro-cyclical bias. Examining the sectors more closely, auto names drive the gains and benefit from the reflation narrative while a robust Chinese economy (indicated by trade-data overnight) underpins the sector – with PSA also noting that China sales reached the prior year’s levels, albeit Renault (Unch) underperforms after delivering an underwhelming plan but shares nursed losses after the group stated the announced targets are realistic so they can be reached even in the toughest conditions. The IT sector resides among the winners following earnings from TSMC whereby revenue increased 1.4% Q/Q and was mainly driven by strong 5nm demand for smartphone and HPC-related applications. The chip-giant added that the business will continue to be supported by 5G and advanced chips and subsequently, peers ASML (+5.2%),ASM (+5%) and Micro Focus (+2%) see tailwinds. In terms of individual movers, Carrefour (-6.3%) shares retrace a bulk of yesterday’s gains as French Finance Minister Le Maire said the Co. is key for jobs and food security in France and he is not in favour of a takeover by a foreign company and a possible bid would have to be cleared by the Finance Ministry, referring to the friendly takeover approach by Canada’s Couche-Tard for EUR 20/shr.

Top European News

  • Italy’s Conte Seeks Path to Retain Power After Junior Ally Quits
  • Denmark to Start First Impeachment Trial in Almost Three Decades
  • Renault CEO Lays Out Plan to Slowly Improve Profitability
  • German Economy Stalled in Late 2020, Probably Averting Recession

In FX, the Aussie is back above 0.7750 vs its US counterpart and eyeing 1.0800 against the Kiwi in wake of Chinese trade data surpassing expectations in headline surplus terms to offer Aud/Usd some compensation amidst the ongoing dispute over exports that has seen Beijing instruct owners of banned Australian coal to the vale of Aud 1 bn+ to find alternative buyers. Meanwhile, Nzd/Usd continues to encounter resistance beyond 0.7200 and did not get much in the way of support from a slowdown in NZ building approvals ahead of electric card sales and the food price index. Similarly, the Pound remains top heavy into 1.3700 and through 0.8900 vs the Euro following a record rise in daily COVID-19 fatalities on Wednesday, but the Loonie has extended its recent rebound from sub-1.2800 towards 1.2665 in the run up to Friday’s BoC business outlook and senior loans survey.

  • USD – After inching a smidge closer to 90.500, at 90.487, the DXY is drifting back down again and it looks like Buck bulls and bears are both biding time for Biden to see whether reports of a larger than anticipated Usd 2 tn fiscal aid package prove to be accurate. In the interim, IJC metrics may provide impetus as the index hovers above 90.235 and the Dollar will also be listening intently to Fed chair Powell for his stance on tapering given more tempering of market perceptions over the timing by several officials yesterday, including Brainard and Clarida.
  • EUR/CHF/JPY – The Euro, Franc and Yen are still ensconced in relatively tight ranges against the Greenback, around 1.2150, between 0.8900-0.8850 and either side of 104.00 respectively, with Eur/Usd hampered by the latest Italian political fiasco in advance of ECB minutes, which also resulted in some downside pressure in the Eur/Chf cross, while Usd/Jpy has not really responded to a surprise rise in Japanese machinery orders or the BoJ’s broadly improved regional survey.
  • SCANDI/EM – In contrast to the recent trend, Eur/Sek is lower and Eur/Nok higher as oil prices wane pre-OPEC’s MOMR, while Usd/Zar has reversed from around 15.2900 to 15.1400 or so even though SA’s Eskom is planning stage 2 load-shedding again and Gold has slipped back below Usd 1850/oz again. In fact, EMs are generally firmer on the latest Dollar fade after dovish Fed rhetoric and more UST yield consolidation in wake of solid auction results.

In commodities, WTI and Brent front month futures trade choppy between gains and losses in early European trade. The contracts saw a bout of selling pressure shortly after the European cash open with no immediate catalyst attributed aside from potential technical influence upon breaches of psychological levels. Both benchmarks trade in the red with WTI Feb’21 residing around USD 53/bbl (vs high USD 53.29/bbl), while Brent Mar briefly fell below USD 56/bbl (vs high 56.40/bbl). However, in the grand scheme of things, prices continue to feel underlying support from the inflationary narrative (with reports of a USD 2tln US stimulus bazooka), coupled by the OPEC+ flexibility and voluntary Saudi cuts. News flow for the supply side of the equations has remained light, but further adding to the rosier demand hopes is J&J’s COVID vaccine update whereby the one-shot vaccine is reportedly safe and generates promising immune response in early trials. Looking ahead, today sees the release of the OPEC MOMR (12:20GMT/07:20EST), the second of the trio of monthly reports. As a recap, the EIA STEO cut its forecast for 2021 world oil demand growth by 220k BPD and sees 2022 world oil demand to hit 101.08mln BPD, up by 3.31mln BPD from 2021. Further, the EIA forecasts Brent crude oil spot prices to average USD 53bbl in both 2021 and 2022 compared with an average of USD 42/bbl in 2020. Another theme to keep an eye on is the developments in the Middle East amid heightened Iranian tensions – with source reports overnight suggesting Iran appears to have sent drones to its allies in Yemen. Elsewhere, spot gold and silver trade modestly softer around recent ranges and sub-1850/oz for the yellow metal. In terms of base metals, LME copper fluctuates on either side of the USD 8,000/t mark after seeing early pressure from a firmer overnight Dollar. BoFA forecasts copper prices averaging USD 9,500/t in Q4 2021 as the bank suggest the market will likely be flipping into a deficit, with the overall 2021 copper price forecast at USD 8,725/t compared to its prior view of USD 7,588/t. Meanwhile, China’s 2020 iron ore imports hit a record high after rising almost 10% YY due to firm demand in the economy’s recovery phase. Conversely, annual rare earth exports from China fell to a five-year low amid lower pandemic-laden overseas demand .

US Event Calendar

  • 8:30am: Initial Jobless Claims, est. 788,500, prior 787,000; Continuing Claims, est. 5m, prior 5.07m
  • 8:30am: Import Price Index MoM, est. 0.7%, prior 0.1%;  Import Price Index YoY, est. -0.8%, prior -1.0%

Central Banks

  • 9am: Fed’s Rosengren to Speak About Economy in 2021
  • 11am: Fed’s Bostic Moderates Panel on Inclusive Recovery
  • 12:30pm: Powell Takes Part in Princeton Economics Webinar
  • 1pm: Fed’s Kaplan Takes Part in Moderated Q&A

DB’s Jim Reid concludes the overnight wrap

Yesterday we launched our latest monthly survey. There is a big focus on whether you think there are bubbles in financial markets (and where) and also on whether there will be a taper tantrum in markets this year. In addition there are covid, vaccine and other market related questions. I’m grateful for the continued support we are getting for this survey. Many thanks. The link is here and it will be open until tomorrow morning.

With the new administration taking office on Wednesday, an important event to look out for today will be the unveiling of President-elect Biden’s Covid-19 stimulus proposals. Though we await the details, we know that Biden has previously said he’s in favour of sending $2,000 cheques, and a readout of a call last week between Biden, Speaker Pelosi and Senate Minority Leader Schumer, said that Biden was in favour of “additional immediate economic relief for families and small businesses, funding for COVID-19 response, including vaccinations, testing, school reopening, and state and local frontline workers.” Meanwhile the Washington Post reported that Biden would seek to get bipartisan support for the measure, and pass it through the normal budget process, so that will be an early test of whether the Republicans are in a mood for compromise as they find themselves without the presidency and in the minority in both houses of Congress. Overnight Bloomberg is reporting that Biden will propose a $2 trillion package which is higher than most estimates. Treasuries are reversing their 36 hour rally on the news as you’ll see in the Asia para below.

Staying with US politics, President Trump was impeached for a second time yesterday, marking a first in American history. 10 House Republicans voted to impeach, including the third highest ranking member, Liz Cheaney. This means that of the four Presidential impeachment votes taken in the history of the US, yesterday’s garnered the most bipartisan support. It is unclear at this time when the articles of impeachment will be taken up by the Senate, though it remains unlikely that Trump is convicted as it would require 17 Republican Senators to join the 50 Democrats. Congressional Democrats have been conflicted between pursuing conviction right away and waiting until President Biden is able to enact more of his agenda. Senate GOP leader McConnell has said that the chamber will not hear the case before the inauguration, while also saying to his fellow lawmakers in an email yesterday that “I have not made a final decision on how I will vote.” This comes after reporting that McConnell did indeed believe that President Trump committed an impeachable offense.

Though the impeachment of President Trump dominated the news agenda, markets generally brushed this off yesterday as risk assets held steady for the most part, with US equities seeing modest advances. The S&P 500 edged up +0.23% and has now not seen a large daily move in quite some time now, with only 4 days of +1% moves in either direction since the start of December and no +2% over the same period. One big reason for the smaller top-level moves has been the degree of dispersion in the index. In fact, most of the index’s members (300) actually moved lower on the day yesterday which speaks to a good day for the bigger tech stocks as the NYFAANG (+1.02%) and NASDAQ (+0.43%) outperformed. It was a bit of an uneven day though as defensive sectors such as Utilities (+1.94%) and Real Estate (+1.39%) led the way in the S&P 500 – helped by lower yields no doubt. At the other end cyclicals – which had been leading the way in recent days – lagged, with Materials (-1.06%) and Energy (-0.81%) lower.

The bigger moves yesterday came in sovereign bond markets however, where the retrenchment in yields we saw late in Tuesday’s session continued. Similar to Tuesday, the move was aided by strong demand from investors for longer-dated US paper, this time it was an auction for 30yr debt, which helped the rate on such bonds fall to 1.82%. 10yr Treasury yields fell a further -4.6bps on the day, which believe it or not is actually their biggest daily decline in nearly two months, taking them to 1.083%. This decline has reversed a bit overnight with yields on 10y USTs up 2.4bps to 1.108% on the above news that President-elect Joe Biden is planning a stimulus package of around $2tn. The 2s10s curve is 1.8bps steeper this morning after flattening by -4.6bps yesterday, in a move lower that was the biggest in over a month. US 10yr breakevens fell for a third time in the last four session, coming down -1.3bps to 2.06%. More Fed speakers again came out against early tapering as Fed officials continue to try and assuage fears of a taper tantrum. Yesterday Brainard said it was too soon to tell how long it would take for the central bank to reach the goals of its dual mandate, and bond buying could even still increase if the economy needed it too. Today we will likely get more headlines with the Fed Chair Powell due to discuss topics including the Fed’s policy framework later in the day.

Back to politics, and in Italy former Premier Renzi announced last night that his party, Italy Alive, is quitting the ruling coalition. The move comes as Renzi denounced Prime Minister Conte for not doing enough to address the country’s problems. The Italy Alive party does not have many seats in the country’s parliament but they are essential to maintaining Conte’s power. After the party’s ministers resign, Conte could resign himself or call for a vote of confidence. There are likely to be new talks amongst the parties, which would then result in either another Conte government, a new premier or a technocratic administration. Fresh elections are still very much the outside bet but it does seem we could be on our way to our 132nd Italian government in the last 160 years.

Earlier in the day, Prime Minister Conte told reporters that he was working on a new coalition deal that would see the government continue until the end of its term in 2023, and Italian BTPs extended their gains after his comments with 10yr yields ending the day -5.1bps lower. This was in line with the main moves elsewhere in Europe but futures gave a bit back after the close on the new news. Elsewhere 10yr yields on bunds (-5.4bps), OATs (-5.0bps) and gilts (-4.5bps) all fell back. Comments from ECB President Lagarde were supportive here, as she said that the ECB shouldn’t tighten simply in response to a rebound that’s as a result of pent-up demand. As in the US, European bourses had made small gains by the close of trade, with the STOXX 600 and DAX both up +0.11%. The Italian FTSE MIB’s +0.43% gain does not reflect the news of Renzi resigning, as it came after trading had stopped in Europe.

Asian markets are mixed this morning with the Nikkei (+1.53%), Hang Seng (+0.35%) and Asx (+0.43%) up while the Shanghai Comp (-0.42%) and Kospi (-0.29%) are down. Meanwhile, futures on the S&P 500 are trading fairly flat.

China’s December trade data came in overnight with the trade surplus at $78.17bn (vs. $72bn expected) as exports grew by 18.1% yoy (vs. 15.0% yoy expected) while imports grew by 6.5% yoy (vs. +5.7% yoy expected). For full year 2020, the trade surplus reached $535bn (+27% yoy), the highest since 2015. Li Kuiwen, an official at China’s General Administration of Customs, said that the trade surplus may keep growing this year, supported by an expected recovery in the global economy and stable domestic growth. In terms of trade with the US, China’s exports rose +34.5% yoy in December while imports from the US rose by +47.7% yoy, the most since January 2013 and the FY 2020 trade surplus with the US was at $316.9bn (+7% yoy). In other overnight news, Bloomberg reported that the US has decided against banning American investment in Chinese tech giants like Alibaba Group and Tencent Holdings.

In terms of the latest on Covid-19, there was further worrying news yesterday over a new Brazilian variant of the virus, with UK Prime Minister Johnson expressing concern over the matter, which has already been picked up by Japan’s National Institute of Infectious Diseases. It came as Japan also announced yesterday that they were expanding their state of emergency to a further 7 prefectures. Extra restrictions were being imposed in Europe too, with Switzerland announcing the closure of non-essential shops from January 18 to the end of February, while private gatherings will be limited to five people, excluding children. Elsewhere, China recorded its first death from the virus since April as new infection clusters are continuing to expand with the country reporting 124 new local infections in the past 24 hours including 81 in Hebei province and 43 in Heilongjiang.

Wrapping up with yesterday’s data, the US CPI release for December showed prices rose by +0.4% month-on-month, while core CPI was up +0.1%, in readings that were both in line with expectations. That leaves the annual readings at +1.4% for Cpi and +1.6% for core CPI. Over in Europe, the main release was Euro Area industrial production for November, which significantly surprised to the upside, with a +2.5% month-on-month increase (vs. +0.2% expected).

To the day ahead now, and central bank speakers include Fed Chair Powell, as well as the Fed’s Rosengren, Bostic and Kaplan, and the ECB’s Hernandez de Cos. Furthermore, the ECB will be releasing the account of their December meeting. The main data release will be the weekly initial jobless claims from the US, while BlackRock will be releasing earnings.

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 32.75 PTS OR .91%   //Hang Sang CLOSED UP 261.26 PTS OR .93%    /The Nikkei closed UP 241.67 POINTS OR 0.85%//Australia’s all ordinaires CLOSED UP 0.42%

/Chinese yuan (ONSHORE) closed UP AT 6.4652 /Oil DOWN TO 52.79 dollars per barrel for WTI and 55.72 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT SPAIN//  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4652. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4632 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/USA

Trump declassifies sensitive documents on startegy dealing with China.  It outlines how the uSA will defend, dominate the Indo Pacific region from China.  China will not be happy!

(zerohedge)

Trump Declassifies Sensitive Document On Strategy To ‘Defend, Dominate, Deny’ Indo-Pacific From China

WEDNESDAY, JAN 13, 2021 – 17:45

Given everything else going on in a news cycle dominated by last week’s Capitol Hill mayhem and Pelosi’s push to impeach, there’s been little notice given to the perhaps unexpected Trump administration declassification of a highly sensitive national security document that lays out the White House’s strategy for countering China.

It was made public late in the day Tuesday, already generating headlines in Japan, Australia and other regional publications, even while major US media is relatively silent. Previously classified SECRET and not for release to foreign nationals, it details the Trump administration’s strategy for the Indo-Pacific region, including to defend, dominate, and deny Chinese military expansion.

In releasing the full text, minus a few minimal redactions, the document has been made public a full thirty years early (according to standard declassification and public records procedures). National security adviser Robert O’Brien said in a statement announcing its public release that it provides “overarching strategic guidance” for US forces in the region and “demonstrates, with transparency, America’s strategic commitments to the Indo-Pacific and to our allies and partners.”

The ten page document identifies the following as a top national security challenge: “How to maintain U.S. strategic primacy in the Indo-Pacific region and promote a liberal economic order while preventing China from establishing new, illiberal spheres of influence.”

A central means in achieving this is to “devise and implement a defense strategy capable of, but not limited to“:

  1. denying China sustained air and sea dominance inside the ‘first island chain’ in a conflict;
  2. defending the first island chain nations, including Taiwan; and
  3. dominating all domains outside the first island chain.

These are among the most blunt strategic actions spelled out in the document that are sure to provoke the ire of Beijing and PLA military leadership.

Here’s what Rabobank had to say of the newly released Trump strategy:

To say that this will not go down well with China, or that China will not be happy that Australia and Japan helped drive this, is an understatement.

Of course, we now have the Biden administration: will there be a reversal of the parting of the ways? Consider the following Axios story, which certainly shows just how near the two have been up until now: “President-elect Joe Biden’s inaugural committee will refund a donation from former Senator Barbara Boxer after the California Democrat registered as a foreign agent for a Chinese surveillance firm accused of abetting the country’s mass internment of Uighur Muslims.”

Concerning key US regional partners the document calls for the US to “accelerate India’s rise and capacity to serve as a net provider of security”, implement “a quadrilateral security framework with India, Japan, Australia, and the United States” and further deepen “trilateral co-operation with Japan and Australia”.

While pushing to keep US “diplomatic, economic, and military preeminence” in the region, it calls for the US to “align our Indo-Pacific strategy with those of Australia, India and Japan” as well as “a strengthened Association of Southeast Asian Nations” to counter Chinese influence.

It’s being met with mixed reactions among China watchers and geopolitical analysts. One critic who cites the good and bad for America’s regional allies – particularly Australia – is Rory Medcalf, the head of the National Security College at the Australian National University:

“This means steady support for allies and partners, rather than the pursuit of some shaky all-round U.S. primacy,” he said.

Some, however, said they saw little new in the document or how it would reassure American allies. Skeptics said that the decision to declassify now is an obvious push for policy continuity amid concerns that a Biden administration may not yet be committed to challenging China’s bid for dominance as strongly as Trump.

“It would be one thing if there was a secret unified field theory that explained the caprice of Trump’s Asia policy, but this is just a bunch of banal, bureaucratic buzzwords,” said Van Jackson, a senior lecturer in international relations at Victoria University of Wellington. “The generous interpretation is that the administration is trying to tie Biden’s hands by releasing this now, but it seems like a poor strategy because there’s nothing in it that would constrain Biden.”

But Medcalf said the declassified framework would have enduring value as the beginning of a whole-of-government blueprint for handling the U.S. strategic rivalry with China.

“This means steady support for allies and partners, rather than the pursuit of some shaky all-round U.S. primacy,” he said.

Some, however, said they saw little new in the document or how it would reassure American allies. Skeptics said that the decision to declassify now is an obvious push for policy continuity amid concerns that a Biden administration may not yet be committed to challenging China’s bid for dominance as strongly as Trump.

“It would be one thing if there was a secret unified field theory that explained the caprice of Trump’s Asia policy, but this is just a bunch of banal, bureaucratic buzzwords,” said Van Jackson, a senior lecturer in international relations at Victoria University of Wellington. “The generous interpretation is that the administration is trying to tie Biden’s hands by releasing this now, but it seems like a poor strategy because there’s nothing in it that would constrain Biden.”

But Medcalf said the declassified framework would have enduring value as the beginning of a whole-of-government blueprint for handling the U.S. strategic rivalry with China.

Medcalf noted further that “It’s surely no bad thing to salvage the few achievements of an otherwise grim era in American foreign policy, while laying down some markers for the incoming administration,” according to The Japan Times.

Meanwhile, Joe Biden has previously vowed that his administration would “get tough” on China, likely also through shoring up regional alliances akin to what’s emphasized in the document. Trump has up to now tried to box the new administration in on China. No doubt the release of this strategy document is in part another significant step in piling on the pressure both in regards Biden’s foreign policy team and Beijing.

end

CHINA

China reports its first COVID death in months as the Clowns from WHO arrive in Wuhan trying to purposely not find the origins of the virus

(zerohedge)

China Reports 1st COVID Death In Months As WHO Team Arrives In Wuhan

THURSDAY, JAN 14, 2021 – 6:44

Just as a team of WHO scientists arrives to visit Wuhan and try to get to the bottom of how the global coronavirus pandemic started, officials in Beijing are ordering the most sweeping set of lockdowns since last spring, with 23MM people in three cities across Hebei province, which encircles the Beijing capital district.

The provincial capital Shijiazhuang as well as the cities of Xingtai and Langfang were all locked down. Amid the dozens of new cases, authorities reported a single death – the first in China in eight months. Meanwhile, China reported the most cases in 5 months on Wednesday. The resurgence is certainly poorly timed.

China has seen scattered outbreaks before, but it blamed many of those on packaging from imported meats and seafood. As of Tuesday, Hebei reported 326 confirmed cases plus 234 asymptomatic cases in the latest round of the outbreak. Most of the cases were found in a mass testing of 11 million people in Shijiazhuang. The city launched a second citywide round of testing.

Clearly worried about what international authorities would turn up, Chinese officials have used a variety of tactics to slow the international probe. After resisting demands from other countries that it allow independent investigators on to its soil to study the origin of the pathogen, China finally let two WHO experts visit in Juy but they weren’t even allowed to visit Wuhan.

Now, after months of political wrangling, a full team will visit Wuhan today. Scientists believe the virus that has killed more than 1.9 million people since late 2019 jumped to humans from bats or other animals, most likely in China’s southwest. The ruling Communist Party, stung by complaints it allowed the disease to spread, says the virus came from abroad.

The NYT said that China delayed approving a visit by a full team of experts for months, frustrating the health agency’s leaders. When the visit seemed to be finalized earlier this month, it fell apart at the last minute when Beijing failed to provide visas for the visitors.

At this point, the “investigation” is going to be so tightly overseen by Beijing, will it be possible for the WHO team to find the bombshells of which we have reported.

end

4/EUROPEAN AFFAIRS

GERMANY/CHINA

Correctly the world is accusing Merkel of rushing into their new EU/China investment deal. You will recall that Deutsche Telecom will get access into Mainland China but in return Chinese Telcos (China Mobile) go into Germany.

(zerohedge)

Merkel Accused Of Rushing EU-China Investment Deal As Part Of German Telecoms Quid Pro Quo

THURSDAY, JAN 14, 2021 – 5:30

German Chancellor Merkel’s consistent unequivocal support for the EU-China Comprehensive Agreement on Investment (CAI), which despite taking over seven years of negotiations appears to have been rushed through intentionally just before Biden takes office, has earned her intense criticism over much of the past year due to the deal’s playing softball on China’s horrible human rights record as well as essentially handing the communist country a vital diplomatic and economic “win” at a moment it’s come under increased isolation led by Washington.

As we featured in prior analysis upon the landmark EU-China deal’s being concluded on December 30, it was negotiated in great haste by Merkel, as well as French President Emmanuel Macron, the President of the European Commission, Ursula von der Leyen and European Council President Charles Michel. Other EU countries were excluded from the negotiations. Merkel, under pressure from China, reportedly sought an agreement at any cost before Germany’s six-month EU presidency ended on December 31. A bombshell report featured in the German language online magazine Wirtschafts Woche this week purports to have revealed what that “cost” was, however:

China is willing to provide Deutsche Telekom a mobile phone license, which would be a first for a foreign company.”

Bonn-based Deutsche Telekom is the largest telecommunications provider in Europe. Such a possible “side deal” might also explain why Germany has long maintained the most open stance on China’s network vendors providing 5G equipment at a moment companies like Huawei have been mired in controversy and repeat warnings coming out of Washington and London that Beijing will inevitably utilize its networks for backdoor spying on host countries and their governments.

The German publication also strongly suggested a further quid pro quo centered on Merkel’s openness to in return open up the German mobile phone market for China Mobile.

Exploring the implications, assuming the report is accurate, Rabobank had this to say on Wednesday:

A hop, skip, and a jump away in Europe, the German press (@wiwo) also have an exclusive on the EU-China CAI investment deal (which we will be publishing a more detailed report on soon). For those who cynically thought the rush to seal the deal was about the looming end of the German EU presidency or the Merkel chancellorship, think again: the claim is Germany has been offered a side-deal and China is willing to provide Deutsche Telekom a mobile phone license, which would a first for a foreign company,” and that in five years DT might even be able to own such infrastructure – with the quid pro quo being that Germany opens its national network to China Mobile. Once this story sinks in across the EU, will there be a parting of the ways between Germany and everyone else? And once it sinks in across the Atlantic, will there be a parting of the ways between the EU and the US? This does not look as much like “strategic autonomy” as it does old fashioned Merkel-cantilism. Many US (and EU) voices say these are generational national security issues that go far beyond any one firm, and are instead about epoch- and paradigm- shifting geostrategy. But rather they aren’t – und das ist das problem.

Significantly, rumors and accusations have been circulating since last September, when the EU was entering the final leg of the deal, while perhaps hoping to preempt any input from the future Biden administration by rushing to conclude it before January, as was reported at the time:

German authorities were rumoured to be hatching a plan to help Deutsche Telekom enter China’s mobile market, WirtschaftsWoche reported, with speculation the move could be part of a deal related to Germany’s 5G policies.

The publication did not divulge what shape Deutsche Telekom’s involvement in China’s mobile market could take, with the operator already offering enterprise services in the country through affiliate T-Systems P R China.

Its current offering in the country is focused on provision of data centre and cloud services. The business has offices in Beijing, Shanghai, Wuhan and Hong Kong.

The rumors come as Germany is preparing new cybersecurity rules, which could provide restrictions on vendors for 5G networks.

The full Wirtschafts Woche report on the latest can be read here (paywalled).

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/SYRIA/IRAN

Last night Israel pounds Iranian strongholds in Syria. This was done with USA intelligence

(zerohedge)

Israel Launches “Deadliest Airstrikes In Years” On Syria With US Intelligence Coordination

WEDNESDAY, JAN 13, 2021 – 23:45

The Washington Post is calling the latest overnight Israeli airstrikes on Syria an “unusually intense” attack on “Iranian positions” there, while The Guardian is reporting “the deadliest airstrikes on Syria in years” which killed 57 Syrian government and Iraqi militia troops.

The airstrikes reached deep into the country near the Syria-Iraq border in Deir Ezzor province, with the targets said to have been arms depots and military positions. The site is also considered a key weapons transit point between Syria and its allies in Iraq and Iran.

Explosion from suspected Israeli airstrike in eastern Syria on January 13, 2021. Via Times of Israel

Syrian state media identified the area as in the vicinity of Albu Kamal while saying damage is still “being assessed”.

The Israeli operation appears connected to Trump’s continued pressure campaign against Iran during his last week in the White House. According to an American intelligence source cited in Fox News:

A senior U.S. intelligence official with knowledge of the attack told The Associated Press that the airstrikes were carried out with intelligence provided by the United States and targeted a series of warehouses in Syria that were being used as a part of the pipeline to store and stage Iranian weapons.

The official said the warehouses also served as a pipeline for components that supports Iran’s nuclear program.

The casualty count is uncertain and varying, but Fox also confirmed it as “massive” with up to 18 missile strikes along the border targeting several arms depots.

It’s been widely reported that Secretary of State Mike Pompeo recently met with the head of Israeli Mossad, possibly to coordinate just such an attack.

Israeli sources further called it a clear “message” to Iran before Biden enters office:

The head of the Israeli National Security Research Institute, Major General (res.) Amos Yadlin, said that behind its bombing of Syria’s Deir Ezzor Governroate, Tel Aviv wanted to convey a message to Iran.

In a statement to Israel’s official Kan news channel, Yadlin said that the attack carried out by Israel in the Deir Ezzor Governorate is “important and the message to Iran is that Israel will not stop working (against Iran and Syria) even during the era of (US President-elect Joe) Biden.”

“Tonight’s attack in Syria has unique characteristics – very long-range attacks in Deir Ezzor and Albukamal, a wide range of targets, including in an urban area, many casualties,” said Yadlin, who is the former head of Israeli Military Intelligence (AMAN).

“Israel is determined to continue dealing with the military capabilities that Iran is building in the Syrian region, and with the infrastructure to transport weapons,” Gen. Yadlin added.

Meanwhile, top Israeli officials are now warning the world that should Joe Biden reenter the Iran nuclear deal, the Israeli military would likely launch a preemptive attack on Iran.

end

Expect new confrontation with Iran shortly

(SouthFront)

Eye Of The Storm: United States And Iran Flex Muscles Expecting New Confrontation

WEDNESDAY, JAN 13, 2021 – 22:45

Submitted by South Front,

U.S. President Donald Trump and his entourage have evidently lost the “war at home”.

The internal struggle is all but entirely concluded, and the victors are Joe Biden, Kamala Harris and the Democratic Party.

However, Trump and Co., in their last days in office are still dead set on proving they are in charge of the Middle East, and on guaranteeing that their “maximum pressure campaign” on Iran continues. And both sides are flexing muscles showing that they are ready for military confrontation at any moment.

Tehran revealed its new helicopter carrier – the Makran, as well as a brand-new missile launching warship – the Zereh. Iran continues amassing forces along its sea border in the Persian Gulf and is tightening its grip on the Strait of Hormuz.

US Satellite imagery has revealed an increase in activity by IRGC vessels in the Strait of Hormuz.

In just the first days of the year, Iran carried out a large-scale drone drill, showcasing loitering munitions and more, closely followed by a naval exercise.

The elite Iranian Revolutionary Guard Corps revealed their own underground missile base near the Persian Gulf, promising to realize their threat of turning the US aircraft carriers into “sinking submarines.”

On its part, the United States sent their nuclear submarine, the USS Georgia, loaded to the brink with Tomahawk missiles, accompanied by two guided missile destroyers, to the Persian Gulf.

They joined the USS Nimitz aircraft carrier, which was initially set to depart, but which has instead remained.

To top it all off, Secretary of State Mike Pompeo claimed that the new “home base” of Al-Qaeda is Iran and went pretty close to claiming that Iran was even behind the organization of 9/11.

That took place just days after Pompeo vowed to designate Yemen’s Houthis, longstanding Iranian allies, as a terrorist organization. Hezbollah is also on high alert. Its Secretary General Hassan Nasrallah vowed to support Iran and thanked it again for its support.

Iranian government spokesman Ali Rabiei warned the US against “extraterritorial adventurism” and its actions do appear to be evidence of that.

At the same time, Donald Trump is desperate for a “win” or at least to show himself as a decision-maker, after being banned from all social media. It could also be his aim to damage the relations between Tehran and Washington beyond repair.

Incoming President Joe Biden is expected to attempt to rejoin the Iran Nuclear Deal in one way or another, which could lead to improving relations between the two sides and bring a semblance of calm to the Middle East.

There is no certainty that this would happen and, depending on which actions would be undertaken by both Iran and the USA, this could also contribute to a deepening rift between the two.

In regard to the conflict between Iran and Israel, the parliament in Tehran voted on a resolution to end the state of Israel by 2041. While Biden is expected to be less supportive of Tel Aviv than Trump, the United States will remain Israel’s key ally. Therefore, an end to the conflict between the sides is as unlikely as ever, but Israel may, for the first time in a while, be on retreat.

end

Iran/Israel

Iran has began to assemble key material for its nuclear warhead production according to the UN. An the doorknob Biden will continue to remain in his bunker

(zerohedge)

Iran Has Begun Assembling Key Material For Nuclear Warhead Production: UN Report

THURSDAY, JAN 14, 2021 – 1:00

Israeli officials are once again making threats to launch preemptive strikes on Iran’s nuclear development facilities amid new reports the Islamic Republic is ramping up efforts to manufacture materials necessary for the production of nuclear warheads.

“In one of the most forceful statements made by an Israeli official, the Likud’s Tzachi Hanegbi, considered an ally of Prime Minister Benjamin Netanyahu, threatened that Israel could attack Iran’s nuclear program if the United States rejoined the nuclear deal, as US President-elect Joe Biden has indicated he plans to do,” The Times of Israel reports.

And crucially a new confidential report by the UN International Atomic Energy Agency (IAEA) alleges that Iran has initiated a major final step in the process necessary to make nuclear weapons

Getty Images

The secret IAEA document has been seen by The Wall Street Journal and is focus of a bombshell Wednesday report, which says:

The International Atomic Energy Agency, in a report for member states viewed by The Wall Street Journal, said Iran has told the watchdog that it has started manufacturing equipment it will use to produce uranium metal at a site in Isfahan in coming months.

Uranium metal can be used to construct the core of a nuclear weapon.

The manufacture of uranium metal is prohibited under the terms of the 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear deal which Biden has vowed to return to. Iran signaling its intent to carry on with it may be a dramatic move aimed fundamentally at increasing leverage with the incoming Biden administration. However, still with a week to go in a turbulent Trump presidency, such declarations may trigger a last-minute US or Israeli attack on the Islamic Republic.

Kazem Gharib Abadi, Iran’s ambassador to the IAEA, caught the West off guard in a surprising Wednesday tweet affirming the provocative step:

Here’s more on the unprecedented move to potentially produce uranium metal, according to the WSJ:

Iran hasn’t made uranium metal so far, senior Western officials said. The IAEA said Tehran had given it no timeline for when it would do so. Still, the development brings Iran closer to crossing the line between nuclear operations with a potential civilian use, such as enriching nuclear fuel for power-generating reactors, and nuclear-weapons work, something Tehran has long denied ever carrying out.

Last July  Isfahan was hit by a mystery blast near in time to when the nearby Natanz facility was also damaged.

While Iranian officials blamed the Isfahan incident on a faulty “worn out transformer” that exploded, Tehran pointed the finger directly at Israel for the Natanz bombing.

Given the new UN/IAEA report has identified the facility involved in pursuing uranium metal production as Isfahan, it’s more than likely that Israeli military and intelligence is eyeing it for an attack, or some level of sabotage operation.

END’

Iran Fires Cruise Missiles During Naval Drill After Israel Threatened Preemptive Strike

THURSDAY, JAN 14, 2021 – 15:25

Iran is currently in the midst of two-day naval drills in the Gulf of Oman which began Wednesday. Crucially also at a time of soaring tensions with the US and Israel, and with less than a week to go till the end of the Trump presidency which is stacked with Iran hawks led by Pompeo, Iran has fired cruise missiles as part of the provocative naval exercise.

“State TV showed footage of missiles being launched from both land units and ships at sea but didn’t elaborate on their range or other details. In July, Iran said it test-fired cruise missiles with a range of some 280 kilometers (some 275 miles),” the Associated Press reports, citing Iran state media.

Iranian military spokesman Adm. Hamzeh Ali Kaviani announced that “Enemies should know that any violation and invasion of Iranian marine borders will be targeted by the cruise missiles from both coast and sea.”

Iran’s navy is also using the drills to showcase it’s largest domestic-built military vessel ever:

The indigenously-made forward base ship IRIS Makran, which is said to be able to carry up to five helicopters, joined the fleet with another ship that is capable of firing missiles.

The 228-metre (748-foot) long warship, previously an oil tanker, has been repurposed to provide logistical support, carry out search and rescue missions, deploy special forces, replenish and transport supplies, offer medical assistance, and act as a base for fast boats.

The Iranian-made warship Makran:

Iranian military via AP

This latest cruise missile test is also no doubt a direct signal to Israel and the United States, given recent threats out of Tel Aviv that the Israeli military will mount preemptive strike if there’s evidence the Islamic Republic is on the threshold of producing a nuclear warhead.

For example, The Times of Israel reported yesterday “one of the most forceful statements made by an Israeli official,” namely Likud’s Tzachi Hanegbi – a close ally of Prime Minister Benjamin Netanyahu – who “threatened that Israel could attack Iran’s nuclear program if the United States rejoined the nuclear deal, as US President-elect Joe Biden has indicated he plans to do.”

END

6.Global Issues

J and J’s vaccine is safe in early trials. I still need to see the data.  It is definitely a little safer than the Moderna and Pfizer’s vaccines.

(zerohedge)

J&J One-Shot Vaccine Is Safe In Early Trials, Generates “Promising Immune Response”

WEDNESDAY, JAN 13, 2021 – 17:17

And so we have another vaccine candidate, one which however requires just one shot, not two like Pfizer and Moderna, and can also be stored at a far higher temperature than its approved competitors making it far easier to distribute.

According to interim data from the Phase 1/2A trial which tested 805 volunteers, and which was published Wednesday in the New England Journal of Medicine, Johnson & Johnson’s one-dose coronavirus vaccine is safe and appears to generate a promising immune response in both young and elderly volunteers. The company is expected to release results from its 45,000-person phase three trial later this month.

According tot he report, J&J scientists randomly assigned healthy adults between the ages of 18 and 55 and those 65 and older to receive a high or low dose of its vaccine – called Ad26.COV2.S – or a placebo. Some participants in the 18-to-55 age group were also selected to receive a second dose of the vaccine. J&J is using the same technologies it used to develop its Ebola vaccine for its Covid-19 vaccine.

Most of the volunteers produced detectable neutralizing antibodies, which researchers believe play a key role in defending cells against the virus, after 28 days, according to the trial data. By day 57, all volunteers had detectable antibodies, regardless of vaccine dose or age group, and remained stable for at least 71 days in the 18-to-55 age group.

Unlike Pfizer’s and Moderna’s authorized vaccines, which require two doses about three to four weeks apart, J&J’s requires only one dose. That means patients will not have to come back for another dose, simplifying logistics for health-care providers.

Alas, this vaccine too had its side-effects, and unlike the unexpected spike in allergic reactions in mRNA based vaccines, the most common side effects from the J&J shot were fever, fatigue, headache, muscle aches and pain at the injection site Side effects were less common in the older age group, who received only one dose of the vaccine, as well as those who received a lower dose of the vaccine, according to the data.

Speaking to CNBC’s Meg Tirrell, Dr. Paul Stoffels, chief scientific officer at J&J said that the phase one and two clinical trial data shows a single shot of the vaccine “gives sustainable antibodies.” He added it gives the company “confidence” the vaccine will be highly effective against the virus.

As CNBC reports, U.S. officials and Wall Street analysts are eagerly anticipating the authorization of J&J’s vaccine, which could happen as early as next month. Public health officials and infectious disease experts say world leaders will need an array of drugs and vaccines to defeat the virus, which has killed at least 382,120 Americans since the beginning of the pandemic.

If J&J’s vaccine is authorized by the Food and Drug Administration, it would be the third approved for use in the U.S. behind the Pfizer-BioNTech vaccine and Moderna’s. Pfizer’s vaccine was authorized on Dec. 11, and Moderna’s was authorized a week later on Dec. 18.

The data comes as U.S. officials complain that the pace of vaccinations has been too slow as the supply of vaccine doses exceeds demand. The Centers for Disease Control and Prevention expanded Covid vaccine eligibility guidelines Tuesday to include people 65 and older as well as people with preexisting conditions. The government is also changing the way it allocates Covid vaccine doses, now basing it on how quickly states can administer shots and the size of their elderly population.

The Department of Health and Human Services announced in August that it reached a deal with Janssen, J&J’s pharmaceutical subsidiary, worth approximately $1 billion for 100 million doses of its vaccine. The deal gives the federal government the option to order an additional 200 million doses, according to the announcement.

Stoffels said the company plans to ship the vaccine at 2 to 8 degrees Celsius, which is about 36 to 46 degrees Fahrenheit.

“We have three months stability as of this moment at 2 to 8,” he said. “That will be expanded over the year as we generate more stability data. We know from our other vaccines it can go up to a year, but at the start we can’t do that because we don’t have it for this vaccine.”

The news sent JNJ stock higher after hours, while Moderna slumped because in a zero vaccine sum world, there are only so many vaccines the world will need.

end
We should expect to see many of these mutant strains occur as the COVID 19 morphs into a less virulent but more easily transmissible state.
(zerohedge)

Another Mutant COVID Strain Discovered In Ohio

WEDNESDAY, JAN 13, 2021 – 20:25

As public health experts around the world issue warnings about new mutant strains of SARS-CoV-2, it appears a new variant has been isolated in Ohio, likely originating from somewhere in the Midwest.

One of these variants, dubbed the “Columbus strain,” hasthree gene mutations that haven’t previously been seen in other SARS-CoV-2 strains – the virus that causes COVID-19, according to a statement from The Ohio State University Wexner Medical Center. These mutations occur in the so-called spike protein of the virus, which enables the virus to bind to human cells more quickly.

This strain quickly became the dominant COVID strain variant in Columbus over a three-week period between late December 2020 and early January, according to the researchers, who hope to post their findings soon on the pre-print database bioRxiv.

A second variant found by the Ohio researchers has a mutation dubbed 501Y that is identical to one seen in the UK’s B117 variant. This mutation affects the receptor-binding domain, or part of the virus’s spike protein that latches onto the ACE2 receptor in human cells; in lab-dish experiments, the mutated receptor-binding domain binds more tightly to the ACE2 receptor, past research found.

However, the researchers believethe Ohio-linked mutation independently evolved from a similarly mutated strain that was already a strain already in the US. So far, it has only been found in one patient from Ohio, so the researchers don’t yet know how prevalent it is in the population overall. A spokesperson for the Centers for Disease Control and Prevention told CNBC that the agency is reviewing the new research. But the researchers believe the Ohio variant independently evolved that mutation from a strain already in the U.S. It was found in one patient from Ohio, so the researchers don’t yet know how prevalent it is in the population overall.

Of course, with so many new “mutant” (deadlier, more contagious) strains of COVID-19 spreading around the country, the Biden administration will have the perfect excuse to extend lockdowns nationwide into late 2021 and beyond… reinforcing Americans’ dependence on government welfare (and implicitly the Democratic Party) even more.

end

A 2nd congressman catches COVID after receiving 2nd dose of vaccine

(zerohedge)

Dem Congressman Catches COVID After Receiving 2nd Dose Of Vaccine

THURSDAY, JAN 14, 2021 – 11:35

As it turns out, Republicans aren’t the only politicians capable of getting COVID.

Offering the latest reminder that the COVID-19 vaccine isn’t 100% effective at stopping people from getting the virus, Democratic Representative Adriano Espaillat of New York announced that he had tested positive even after receiving the second dose of a vaccine. He’s now isolating at home.

“I received the second dose of the #COVID19vaccine last week and understand the affects take time,” Espaillat said on Twitter Thursday, without identifying which vaccine he got. “I have continued to be tested regularly, wear my mask and follow the recommended guidelines.”

Despite all those warnings about a long, dark winter, COVID-linked hospitalizations might have declined over the past month.

The news comes as the CEO Moderna, the maker of one of one of the mRNA COVID vaccines, warned Wednesday that the coronavirus will be around “forever” – despite all that talk about the vaccine bringing back a sense of normalcy to the world.

And Moderna CEO Stephane Bancel isn’t the only official and infectious disease expert to have discussed the high likelihood that COVID-19 will become an endemic disease, meaning it will become present in communities at all times, though likely at much lower levels than it is now.

“We are going to live with this virus, we think, forever,” he said during a panel discussion at the JPMorgan Healthcare Conference.

As researchers in Ohio discover new mutant strains that likely evolved in the US, the long-term efficacy of vaccines, and the virus’s ability to adapt and become more transmissible, or even more deadly, still aren’t well understood.

Even as the US accelerates the process of doling out vaccinations, it will still take months to inoculate the entire population.

end

Bill Blain on the world’s most important topics

(Bill Blain)

Blain: Distracting Times

THURSDAY, JAN 14, 2021 – 8:30

Authored by Bill Blain via MorningPorridge.com,

“Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them. ” 

Who would really want to invest time and effort in a basket case spiralling downwards, riven by internal dissent, where pushback against the agreed rules and the disagreement is commonplace? But enough about She-Who-Is-Mrs-Blain and I trying to agree on new bathrooms… let’s talk about markets instead.

The fun and games in the USA is a massive but fascinating distraction from everything else going on in the world. 

A chum and I were wondering about markets and how difficult this whole “democracy” thing is becoming. Bearing in mind the history and shoot-first mindset of the US, is it right to punish Trump for the crime of being Trump or would it be better to gloss over it? Is it right big tech companies – which clearly state on their terms of service that they will not host or promote sites or apps that allow hate, racism or incitements to violence – have effectively spiked the Alt-right forum “Parler”? Is it a denial of free speech or a logical business decision? What is the right to free speech? I’ve been slung out of posh clubs for being free with my speech….  (I don’t think Parler should worry… I’m sure the Kremlin will be happy to fund a server farm deal for them…)

As we debated the potential outcomes for the US – our consensus being the US faces a long-term crisis to address and solve the equation for both disaffected Trump Supporters and the crushing poverty now seen in Democrat Cities… we wondered if there are better places to invest. 

You might have noticed in your rear-view mirror China getting away with whatever it pleases in Hong Kong, and ask the question: Where is Jack Ma? 

That’s an interesting one – what President Xi decides to do with Alibaba will define what kind of investible market China is likely to become. As its likely to become the largest economy very soon, it’s can’t be ignored and is worth considering. We have a very simple litmus test to watch:

  • If Alibaba is “punished” with a simple but significant corporate fine on the basis Ma’s disrespect for regulation needed “correction” then China investment is not insurmountable. China has the right to set its regulatory rules and expect them to be respected. 
  • However, if Xi decides to “unperson” Ma, and absorb Alibaba and Ant into the state, then that creates a very different outlook where garnering returns from a “pivot to China” becomes a lottery. 

I’m watching carefully – Alibaba is my worst performing investment position at the moment.

Europe has been getting even less attention. It strikes me it should be top of list of places to be watching – and not just because Italian politics are looking wobbly… again… But Yoorp is just too dull to get excited about. I suppose things could be worse. According to The Times of London a few weeks ago, ace EU negotiator Michael Barnier is in with a chance of standing for French President. Aw.. bless..

Yesterday, the former Italian prime-minister Matteo Renzi pulled his Italia Viva party out the coalition over spending demands and how much they can get from Europe and the EU’s recovery fund. It didn’t get mentioned on the BBC news. It might force an election.. All while Italy is struggling with the second worse Coronavirus load in Europe. (The UK numbers are cosmetically worse.) 

On the other hand, yesterday Spain received an extraordinary initial €130 bln of orders (a record demand number for a European peripheral govt bond sale, apparently) on its new 10-year bond – priced at 55 basis points over Bunds to yield 0.08%. There is a lot of scepticism about the order books for new deals – plenty of buyers aren’t holders, but are stagging the deals to sell on to the ECB. Who wouldn’t – buy bonds in the morning a 0.08% and spiv them to the ECB at 0.07% in the afternoon…

Because I very occasionally express opinions that Europe is not quite the capitalist workers’ paradise it claims to be… but is possibly the least free, most protectionist, bureaucratically trip-wired, mismatched and mismanaged wannabe state on the planet, some readers think I’m some kind of Brexiteering Eurosceptic foaming at the mouth to declare war on Europe.

Nonsense. I adore Europe – seriously I do. But, as the botched EU coordination of the vaccination programme yet again highlights…. running a loose confederated union of 26 conflicted tribes with varying degrees of distrust for each other is a pretty thankless task – which is why the President of The European Commission is a lackluster former German defence minister appointed to the role. Successful big-nation politicians would be unlikely to take the job…

That’s the problem for Europe. Great idea… but not everyone is fully bought into the programme yet. The more I observe and think about it, I suspect the likely outcome for Europe is not a sudden collapse of the Euro, or a spectacular national default brought about by the mechanisms of the Euro and debt… but more likely nations just losing the will to bother anymore.. and that rather than move forward it slowly stagnates. Rather than the EU and Euro exploding in a catastrophic supernova, I suspect its more likely to bore us to death in a welter of regulations, bailout programmes and superstate controls…

That’s a sign of a fundamental disconnect at the heart of Europe. The Brussels Eurocracy’s ambition is for the EU superstate to have primacy over the member states – as has been achieved in terms of the currency and monetary issues. However, the Nation states remain sovereign for fiscal policy – which is a fundamental block: if you don’t have monetary sovereignty, how can you have fiscal sovereignty. The delicate balance/fudge between state and union is below the surface in member countries, but it’s what underlay the Brexit vote in the UK. The next two years in European politics could well see these tensions re-emerge – which will further hamper the efforts of individual nationse to reflate economies and drive recovery. Its a fundamental conflict.

As the end of the Angela Merkel era approaches, there isn’t much to hope Germany is going to lead Europe by example. Reading about, (because who wants to watch) German politics is close to a SLMOT (slit my own throat) moment as the perhaps the dullest, least inspiring politicians in the western world chunter on about blah blah blah blahbitty blah blah.. The potential successors to Frau Merkel are a mildly uninspiring lot. Merkel dominated the European agenda as the practical pragmatic senior European statesman. Yet her centrist personality and policies will her leave the party stalled in the Middle of The Road in every respect. German politics is so dull and boring it’s difficult to see anyone with much of a personality to set agendas to lead Europe emerge from it.

The winner of the party election won’t be the politician with the best outreach to young people, or the one with firmest grasp on European control – it will be the establishment man that appeals best to the 1000 senior CDU politicrats who will make the choice. They will choose a leader unlikely to rock the boat. None of them care much for “galvanising” young people or challenging the finances and structures of the EU – as long a Germany is ok.

In France, but Macron’s recent TV performances have been less than stunning. Looking haunted, he knows the game is likely up unless he is gifted Marine Le-Pen as his rival in May 2022 – and the whole electorate gathers behind him in order to keep the Eurosceptic far right out. Macron failed to solve the domestic issue which spawned the gillet-jaunes or exploit the space left by Merkel to lead Europe.

Earlier this week Italian bonds got hosed on the back of fears the current government may throw in the towel over its inability to support the economy. While the UK and US can turn on the government cash spiggots and furlough, support and bail out whomever they chose with as much money as they can possibly need.. Italy, and every other EU member, has to go cap in hand to Brussels for permission to breach debt/GDP levels, for additional money and the vaccinations.

Seasoned European watchers say the latest crisis in Italy isn’t worth getting bothered about. It happens – get over it. Italy needs money it doesn’t have. It doesn’t have financial sovereignty, so all it can do is bleat to Europe, harumph in front of Italian voters, and then ask Europe nicely for more – even though its already getting the biggest slice of the €750 bln recovery/generational funding….  See.. the system works..

As I was asking earlier – am I inclined to invest in Europe where growth remains limited and politics has become a null entrophy game?

All of which leaves… the UK? Oh dear… is that the best I can come up with… !

Finally.. My big upset at the moment is the likelihood I won’t to La Thuile, the Little Siberia of The Italian Alps – my favourite place to ski. Why? Because its quiet, it’s not very fashionable, it’s got great runs including a world championship downhill, and it’s got marvellous quiet little bars you need to ski to get to where I can just sit, relax and take in the views (and brandies..) Next year… next year… 

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 THURSDAY morning 7:00 AM….

Euro/USA 1.2145 DOWN .0015 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 EXCEPT SPAIN

USA/JAPAN YEN 104.04 UP 0.212 (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 1.3653   UP   0.0006  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2677 UP .0021 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  THURSDAY morning in Europe, the Euro FELL BY 15 basis points, trading now ABOVE the important 1.08 level FALLING to 1.2145 Last night Shanghai COMPOSITE CLOSED DOWN 32.75 PTS OR .91% 

//Hang Sang CLOSED UP 261.26 PTS OR .93% 

/AUSTRALIA CLOSED UP 0,41%// EUROPEAN BOURSES ALL GREEN EXCEPT SPAIN

Trading from Europe and Asia

EUROPEAN BOURSES ALL GREEN EXCEPT SPAIN

2/ CHINESE BOURSES / :Hang Sang CLOSED UP 261.26 PTS OR .93% 

/SHANGHAI CLOSED DOWN 32.75 PTS OR .91% 

Australia BOURSE CLOSED UP 0.41% 

Nikkei (Japan) CLOSED UP 241,67  POINTS OR 0.85%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1840.60

silver:$25.24-

Early THURSDAY morning USA 10 year bond yield: 1.109% !!! UP 2 IN POINTS from WEDNESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.841 UP 2  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 93.81 DOWN 10 CENT(S) from  WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  THURSDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.01% UP 1 in basis point(s) yield from YESTERDAY/

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

SPANISH 10 YR BOND YIELD: 0.06%//UP 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.64 UP 3 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 59 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 1.19% 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 FRIDAY

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

Euro/USA 1.2153  DOWN     .0008 or 8 basis points

USA/Japan: 103.68 DOWN .143 OR YEN UP 14  basis points/

Great Britain/USA 1.3687 UP .0039 POUND UP 39  BASIS POINTS)

Canadian dollar UP 63 basis points to 1.2653

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed DOWN AT 6.4746    ON SHORE  (DOWN)..

THE USA/YUAN OFFSHORE:  64683  (YUAN uDOWN)..

TURKISH LIRA:  7.37  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.03%

Your closing 10 yr US bond yield UP 1 IN basis points from WEDNESDAY at 1.097 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.841 UP 2 in basis points on the day

Your closing USA dollar index, 90.21 down 15  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 56.44  0.84%

German Dax :  CLOSED UP 48.99 POINTS OR .35%

Paris Cac CLOSED UP 18.47 POINTS 0.33%

Spain IBEX CLOSED UP 11.30 POINTS or 0.14%

Italian MIB: CLOSED DOWN 105.93 POINTS OR 0.47%

WTI Oil price; 52.91 12:00  PM  EST

Brent Oil: 56.44 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    73.24  THE CROSS LOWER BY 0.59 RUBLES/DOLLAR (RUBLE LOWER BY 59 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.55 FOR THE 10 YR BOND 1.00 PM EST EST

END

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

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

WTI CRUDE OILPRICE 4:30 PM :  53.64//

BRENT :  56.27

USA 10 YR BOND YIELD: … 1.128..up 4 basis points…

USA 30 YR BOND YIELD: 1.874 up 5 basis points..

EURO/USA 1.2161 ( DOWN 1   BASIS POINTS)

USA/JAPANESE YEN:103.68 DOWN .153 (YEN UP 16 BASIS POINTS/..

USA DOLLAR INDEX: 90.18 DOWN 18 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3699 UP 52  POINTS

the Turkish lira close: 7.363

the Russian rouble 73.23   UP 0.63 Roubles against the uSA dollar. UP 63 BASIS POINTS)

Canadian dollar:  1.2638 DOWN 58 BASIS pts

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

The Dow closed DOWN 68.95 POINTS OR 0.22%

NASDAQ closed DOWN  81.50 POINTS OR 0.63%


VOLATILITY INDEX:  22.76 CLOSED UP .55

LIBOR 3 MONTH DURATION: 0.241%//libor dropping like a stone

USA trading today in Graph Form

Crypto & Small Caps Surge, Dollar Shrugs Ahead Of Biden’s Budget Bonanza

Tyler Durden's Photo

BY TYLER DURDEN
THURSDAY, JAN 14, 2021 – 16:01

When the headline hit last night – from a Biden aide – that Biden’s stimulus spendfest was $2 trillion (or some suggested $3 trillion), markets lurched – bond yields spiked, small caps surged, tech tumbled, the dollar rallied, gold dumped, and crypto rebounded further.

By the end of the day session, gold and the dollar had retraced their moves while stocks, bonds, and crypto extended their trend.

Then late on stocks took a brief dive after NYTimes dropped a headline outlining Biden’s $1.9 trillion stimulus plan…

One thing that markets may not like is that contrary to previous expectations that the “stimmy” check will be $2,000, Biden will instead propose additional $1,400 stimulus checks, “topping up the $600 checks that Congress approved in December.”

Which apparently disappointed stocks… Still, the US equity markets massively diverged with Small Caps exploding higher as Big-Tech and the Dow and S&P drifted down, accelerating late on…

Today was the biggest short-squeeze since April 2020!! … note that the most-shorted stocks have risen for 9 of the last 10 days.

Bitcoin pushed back up above $40,000 as perhaps the cleanest signal left of the inflationary impulse…

Source: Bloomberg

The dollar reversed hard and ended down…

Source: Bloomberg

And while gold ended lower it bounced hard off the spike lows overnight…

As, we suspect the world is coming to recognize that the Treasury/Fed axis is “meddling with the primary force of nature… money!!”

The Russell 2000 / Nasdaq 100 ratio soared to their highest since early March…

Small Caps are now up almost 10% YTD with Nasdaq barely above unch…

Energy stocks exploded higher once again today as Tech and Staples lagged…

Source: Bloomberg

Value was well bid as growth stocks were dumped…

Source: Bloomberg

VIX remains awkwardly high relative to stocks…

Source: Bloomberg

But with demand for calls so high (at 21 year highs relative to puts), this measure of ‘fear’ could have switched to a measure of ‘greed’ once again…

Source: Bloomberg

As we are seeing insane levels of call-buying in XLE and more idioyncratically XOM…

Source: Bloomberg

But vol of vol (VVIX) is notably decoupling…

Source: Bloomberg

Treasury yields also extended their overnight spike on the reflation theme after Jay Powell failed to calm the taper rhetoric…pushing 30Y back to unch on the week…

Source: Bloomberg

10Y yields pushed back above 1.10%…

Source: Bloomberg

USTs are at their highest to Bunds in over 10 months and at a critical technical level…

Source: Bloomberg

Oil surged back above $53…

Grains continue to soar…

Source: Bloomberg

Today’s rebound in Bitcoin combined with gold’s recent relative weakness has sent the cryptocurrency to a record 21.5x the price of the precious metal…

Source: Bloomberg

And finally as US economic data continues to serially disappoint…

Source: Bloomberg

It has never been more expensive for the ‘average joe’ to buy stocks…

Source: Bloomberg

And the last time the put-call ratio collapsed to these levels of complacency… it did not end well…

Source: Bloomberg

a)Market trading/LAST NIGHT/USA

On top of the already issued 2.3 trillion dollar stimulus pkg, the Democrats want another massive 2 trillion dollar new stimulus.

(zerohedge)

Yields Surge As Stunned Traders Learn Biden To Propose Massive $2 Trillion Stimulus

WEDNESDAY, JAN 13, 2021 – 21:55

Last week, Goldman sparked a buying frenzy in the market (and selling in treasuries) when the bank said it expects the Biden admin would unveil a “modest” $750 billion fiscal stimulus plan, including some $300 billion in “stimmy” checks to Americans.

However, as bank after bank tried to upstage Goldman and threw around stimulus estimates as high as $1 trillion or even more, the market barely noticed when late this afternoon, incoming Senate majority leader, Chuck Schumer reportedly “pressed” (in Bloomberg’s words) Joe Biden to propose more than $1.3 trillion in spending for his initial round of Covid-19 relief.

According to Bloomberg, “the two have discussed Biden’s plans ahead of the president-elect’s announcement on his economic-rebuilding proposals… Biden is set to speak at 7:15 p.m. Thursday to outline “his vaccination and economic rescue legislative package,” his transition team said in a statement.”

But if markets ignored the Schumer report, they sure as hell noticed the CNN report which hit just after 9pmET, which prompted traders to take a double take because apparently Schumer “pressed” Biden so hard to expand the next stimulus round, he literally squashed the president-elect, who is now “expected to unveil a major Covid-19 relief package on Thursday and his advisers have recently told allies in Congress to expect a price tag in the ballpark of $2 trillion,” CNN reported citing two people briefed on the deliberations.

The Biden team is taking a “shoot for the moon” approach with the package, one lawmaker in close contact with them told CNN, though they added that the price tag could still change.

The proposal, which is just shy of the Democrats’ demand late last year when they sought a $2.2 trillion stimulus, only to agree on a $900 billion enacted last December, “will include sizable direct payments to American families, significant state and local funding – including for coronavirus vaccine distribution and other emergency spending measures – to help those struggling during the pandemic.”

It wasn’t immediately clear just how big the “stimmy” checks would be, but it is safe to say they will be at least $2,000 and perhaps much more…. which while great news for stocks as much of this money will quickly find its way into Robinhood accounts, is very bad news for bond yields as $2 trillion is a number which just might spark the runaway inflation the Fed has been dreaming of all these years.

Brian Deese, Biden’s pick to lead the National Economic Council, said Wednesday at a conference that the package will include $2,000 stimulus checks, and address other relief measures like unemployment insurance.

And sure enough, even after Clarida, Brainard and countless other Fed speakers jawboned mightily all day to talk back expectations of an early taper today, sending yields sharply lower, the 10Y soared almost 5bps in minutes, from 1.07% to 1.12% amid fears that $2 trillion just may be a “big enough” number. What is curious is how slow Treasurys were to react to the news: it took them about 3-4 minutes to realize the gravity of what Biden was planning.

Brian Deese, Biden’s pick to lead the National Economic Council, said Wednesday at a conference that the package will include $2,000 stimulus checks, and address other relief measures like unemployment insurance.

The yield spike predictably unleashed a jump in the dollar…

… which coupled with the rise in real rates, hammered gold (which makes zero sense since the US deficit is about to explode, but that’s just how mechanistic algos roll)…

… and while S&P and Nasdaq futures dipped, small caps – i.e., value names which are boosted by the reflation them – exploded higher.

Biden is set to announce the details of his plan in Wilmington, Delaware, Thursday evening, and there is a chance the number may increase still.

END

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

Initial jobless claims soar to its highest levels since August

Initial Jobless Claims Soars To Highest Since August Amid Illinois Chaos

THURSDAY, JAN 14, 2021 – 8:35

Despite ongoing government-enforced lockdowns and small business closures, analysts expected the number of Americans seeking first-time unemployment benefits to remain flat in the first week of 2021 (even after ADP and BLS showed big job losses), but, they were “surprised” when initial claims exploded higher.

965k Americans filed for first time jobless claims in the first week of 2021 – a massive jump from last week’s 784k and well above expectations of a 789k rise.

Source: Bloomberg

There is likely plenty of seasonality issues with this data but we do note some extreme swings in Illinois data.

Remember last week saw a massive outlier drop in Illinois…

And now this week, Illinois is at the top – seeing over 50,00 initial claims…

Continuing Claims rose for the first time since Thanksgiving Week…

Of course, this is all irrelevant given tonight’s economic address by Biden which will save everyone with trillions of free money for doing nothing.

end

iii) Important USA Economic Stories

Biden Stimulus Plan Leaks: Will Total $1.9 Trillion, Includes $1,400 Stimmy Check

THURSDAY, JAN 14, 2021 – 15:30

It may not be quite $2 trillion as CNN leaked last night, quoting “one lawmaker” in close contact with the Biden team who said it was “taking a shoot for the moon” approach with the package”, but it’s close.

With less than 4 hours to go until Biden’s 715pm ET speech in Delaware, in which he is expected to unveil his fiscal program, the NYT reports that Biden’s spending package “to combat the coronavirus pandemic and its effects on the economy, with an initial focus on large-scale expansions of the nation’s vaccination program and virus testing capacity” will be $1.9 trillion.

The first package, which “will cover the pandemic, the economy, health care, education, climate change and other domestic priorities” according to Brian Deese, the incoming director of the National Economic Council who spoke at the Reuters Next conference on Wednesday, will include money to complete $2,000 direct payments to individuals, and aid to small businesses and local and state governments.

One thing that markets may not like is that contrary to previous expectations that the “stimmy” check will be $2,000, Biden will instead propose additional $1,400 stimulus checks, “topping up the $600 checks that Congress approved in December.”This means roughly one-third less purchasing power to buy out of the money call on stocks trading at all time highs.

The NYT also notes that the first piece of legislation will include an extension of supplemental federal unemployment benefits, which are set to expire in March for many workers, and more help for renters.

Plans for the first package also include a significant increase in spending on vaccine deployment, testing and contact tracing, Mr. Deese said, and Mr. Biden will seek enough money to allow most schools to open, in an effort to increase labor force participation.

“We need to get the schools open,” Mr. Deese said, “so that parents, and particularly women, who are being disproportionately hurt in this economy, can get back to work.”

Stocks dropped to session lows on news that instead of an $2,000 additional stimmy, the Biden plan will “only” include another $1,400, adding to the previously released $600 from the December $900BN stimulus plan.

END

Another retailers bites the dust as women’s apparel operator Christopher and Banks file for bakruptcy and could close all of their stores
(zerohedge)

Christopher & Banks Files For Bankruptcy, Could Close All Stores

THURSDAY, JAN 14, 2021 – 15:45

By Ben Unglesbee of Retail Dive

Summary:

  • Christopher & Banks filed for Chapter 11 bankruptcy Thursday after protracted demand declines among its customer base in 2020 and defaults on major financial obligations earlier this month.
  • The women’s apparel seller said in a press release that it plans to close “a significant portion, if not all, of its brick-and-mortar stores.” It has hired Hilco Merchant Resources to run liquidation sales at all 449 stores, according to court documents.
  • While it prepares to exit brick-and-mortar, Christopher & Banks plans to sell its e-commerce unit in Chapter 11. The company is in “active discussion with potential buyers,” it said in the release.

With store sales making up 75% of Christopher & Banks’ sales, the COVID-19 pandemic was a fatal blow to the apparel seller’s business.CEO Keri Jones said in court papers that its Chapter 11 filing was “primarily the result” of the pandemic’s impact.

The public health crisis roiled Christopher & Banks’ business throughout the year. After closing its stores temporarily in the spring, it lost its primary revenue channel. Even after furloughing staff, cutting executive pay, skipping rent and receiving a $10 million loan from the federal stimulus package, its liquidity remained constrained and its finances stressed.

Amid a prolonged COVID-19 surge in the fall, the company’s sales were down 22.6% in the third quarter, after which Christopher & Banks disclosed it had hired advisers to evaluate its financial and strategic options, including a sale and bankruptcy. Sales during the holiday season didn’t improve. Jones said that “customers have limited demand for new outfits in the absence of social engagements and customers remain hesitant to shop in stores.”

Starting in November, the company stopped paying rent again, according to Jones. That has brought in threats of eviction from landlords, another factor in the retailer’s decision to file. Since then, the company has also defaulted on the lease to its headquarters, as well as key loans that keep it afloat.

Prior to that, the company brought on advisers from investment bank B. Riley and reached out to some 180 parties as it sought potential providers of capital or buyers. But, ultimately, nobody wanted to buy Christopher & Banks’ physical footprint in whole or in part.

With its advisers, Christopher & Banks concluded that a sale of its brick-and-mortar business “is not viable or achievable under the current circumstances,” Jones said in her filing. Barring some last-minute savior, the company is on track to wind down its store operations. On the other hand, Jones added that the company’s e-commerce business “has and continues to represent an attractive asset for buyers.”

Founded in 1956, the apparel seller was originally named “Braun’s Fashions,” a family business until it went public in 1992. Today it specializes in value-priced women’s apparel including “casual clothing, everyday basics, wear-to-work, leisure/activewear and seasonal sleepwear,” Jones said in her filing. With its 449 stores, it targets smaller markets, typically fewer than 75,000 people.

Jones told analysts last year that the retailer had shown positive sales trends until the pandemic hit, making it one of the true victims of a pandemic that was blamed for nearly all retail bankruptcies last year, including by executives at companies that had been in financial distress for years prior.

Should it close its stores, Christopher & Banks will join a growing cohort of retail and apparel brands to shutter their physical operations and enter an afterlife as an e-commerce specialist.

end

Parler CEO states that it may never return. Where is the Dept of Justice? Anti trust?

(zerohedge)

Parler CEO Says Conservative Twitter Competitor May “Never” Return

WEDNESDAY, JAN 13, 2021 – 18:05

Twitter competitor Parler may be gone for good, after Amazon Web Services (AWS) suddenly dumped the social media platform from its cloud hosting service amid a pro-Trump ‘cancel crusade,’ following last week’s protest at the US Capitol turned deadly after a small group of activists ran amok inside the US Capitol building.

Parler CEO John Matze told Reuters on Wednesday that he does not know if or when the service will return for its 12 million users, adding that the best thing would be if they could return to Amazon.

It could be never,” he said. “We don’t know yet.

On Monday, Parler filed a lawsuit against Amazon, which the Seattle-based tech giant says has no merit. According to Matze, they are considering suing other vendors but did not elaborate. The company was also booted from online payment processor Stripe, along with American Express. They also had their Scylla Enterprise database access, along with their ability to send SMS messages to confirm users after Twilio banned them. Lastly, Slack cut ties with the company – preventing them from communicating with their “jury” of paid and volunteer users who make content moderation decisions.

Amazon cut Parler, a platform which styles itself as a “free-speech” space and is favored by supporters of U.S. President Donald Trump, off its servers this weekend for failing to effectively moderate violent content. Apple Inc and Alphabet Inc’s Google also kicked Parler from their app stores.

It’s hard to keep track of how many people are telling us that we can no longer do business with them,” said Matze.

Amazon on Tuesday filed exhibits that showed it had warned Parler late last year about vile and threatening language on its site before cutting off the platform after the attack on the U.S. Capitol. In a court filing Wednesday, Parler said that Amazon had not provided proof that the platform was used to incite and organize the Jan. 6 events. –Reuters

According to ‘disinformation researchers’ cited by Reuters, Parler was used by far-right groups “maintained a vigorous online presence on alternative platforms including Parler where they spread violent rhetoric ahead of the unrest.”

Amazon claims they warned Parler to institute moderation tools against such rhetoric.

Scylla, the database company, said that it terminated its relationship with Parler because they “cannot and will not allow our technology to be used to incite violence.”

Twilio said Parler had violated its acceptable use policy and that it would suspend it if it did not remove calls for violence from the social platform. The other vendors did not immediately respond to Reuters requests to comment.

Matze said that some Parler employees had requested to take a few weeks off work and also said he and staff had received threats and people showing up at their houses.

He said there had been no changes to investors in Parler, which gets funding from hedge fund investor Robert Mercer and his daughter Rebekah Mercer.

Meanwhile, Antifa has been using Facebook and other platforms to coordinate riots and domestic terrorism for the past four years, while Twitter is chock-full of violent threats, but who are we to tell ‘private platforms’ what they can do? If you don’t like it, just start your own… oh wait.

END

Sheer hypocrisy!!

In “Staggering” Lack Of Self-Awareness, Twitter Lectures Uganda On Principles Of ‘Open Internet’

WEDNESDAY, JAN 13, 2021 – 19:05

Twitter decided that now would be a good time to weigh in on how things are going in Uganda of all places, where Ugandan President Yoweri Museveni has taken the drastic action of temporarily banning Facebook and Twitter in the final hours leading up to Thursday’s general elections for the presidency and parliament.

Museveni argued that the US-based social media platforms are engaged in censorship that unfairly targets his campaign while propping up opposition frontrunner candidate Bobi Wine. After being on a days-long massive purge of pro-Trump accounts in the US which began when the president himself was permanently banned, Twitter had this to say, and without irony:

“We strongly condemn internet shutdowns…”

Billionaire co-founder of AQR Capital Management Cliff Asness immediately said exactly what was on everyone’s mind:“The lack of self-awareness is staggering.”

It is indeed yet another example of Twitter being completely blinded by the hypocrisy as to the way it exercises its immense power in its own backyard (or worse, the major Silicon Valley moguls are quite aware and simply don’t care).

This also after Amazon, Apple and Google agreed in unison to destroy Parlor as it was politically expedient, apparently. And now Twitter is actually lecturing the head of a foreign state on not violating the “principles of the Open Internet”.

So much for that “open” internet….

As for Uganda a long list of online platforms are currently down alongside Twitter and Facebook ahead of the election, including WhatsApp, Instagram, Skype, Snapchat, Viber, Google Play and others.

As for Uganda a long list of online platforms are currently down alongside Twitter and Facebook ahead of the election, including WhatsApp, Instagram, Skype, Snapchat, Viber, Google Play and others.

Facebook actually admitted to the AP that it indeed took down many users promoting Museveni as it alleged his campaign “used fake and duplicate accounts to manage pages, comment on other people’s content, impersonate users, re-share posts in groups to make them appear more popular than they were. Given the impending election in Uganda, we moved quickly to investigate and take down this network.”

Museveni responded by vowing there is no way anybody should come and decide for our country” – in reference to the US tech oligarchs during a national address over the crisis.

Again, Twitter is now oh-so-worried about principles of free speech and #OpenInternet – as it stated in its official message – in far away foreign countries like Uganda, but is not batting an eye while simultaneously shutting down thousands of conservative accounts.

END

Shareholder activists must go after them for this:  $51 billion combined market value erased since Trump ban

Van Brugen/and special thanks to Robert H for sending this to us

Twitter, Facebook: $51 Billion Combined Market Value Erased Since Trump Ban

January 14, 2021 Updated: January 14, 2021

Social media giants Facebook and Twitter have collectively seen $51.2 billion in combined market value wiped out over the last two trading sessions since they banned President Donald Trump from their platforms following the U.S. Capitol breach.

Large tech firms and a number of Democratic political figures have claimed Trump incited violence at the U.S. Capitol last week. The incident disrupted debates in both the House and Senate as lawmakers were forced to shelter in place while police and security attempted to seize back control.

Trump took to Twitter following the outbreak of violence to call on protesters to “go home in peace.” He denounced the violence as a “heinous attack” that “defiled the seat of American democracy” on Jan. 7. It is unclear who instigated the breach of the building.

Last week, Twitter first placed restrictions on a video the president posted, before temporarily suspending his account, an action followed closely by Facebook. Twitter two days later permanently suspended Trump’s account over two Twitter posts it cited as having violated its policies.

A large number of pro-Trump accounts were also deleted by Twitter and Facebook.

Epoch Times Photo
The suspended Twitter account of U.S. President Donald Trump appears on a laptop screen on Jan. 8, 2021. (Justin Sullivan/Getty Images)

As users attempted to flee to Parler and other social media websites, Amazon Web Services suspended its service with Parler on Monday morning, triggering a lawsuit from the company hours later.

Most recently, Google’s YouTube removed new content from Trump’s account and suspended his channel for at least a week, saying that the channel violated its policies for “inciting violence.”

“After careful review, and in light of concerns about the ongoing potential for violence, we removed new content uploaded to the Donald J. Trump channel and issued a strike for violating our policies for inciting violence,” a YouTube spokesperson said in a statement to The Epoch Times.

“As a result, in accordance with our long-standing strikes system, the channel is now prevented from uploading new videos or livestreams for a minimum of seven days—which may be extended. We are also indefinitely disabling comments under videos on the channel, we’ve taken similar actions in the past for other cases involving safety concerns.”

Google did not have any further comment when asked about what aspects of the content on Trump’s channel had violated its policies.

The president has argued that companies like Google, Twitter, and Facebook will fail due to censorship.

Big Tech is “doing a horrible thing to our country. … And I believe it’s going to be a catastrophic mistake for them,” Trump said.

Jack Phillips and Mimi Nguyen Ly contributed to this report.

This is a must read…

This is where we are at right now:  a 28 trillion dollar debt, which will blossom to 30 trillion dollars by the end of the year or greater.  The Fed balance sheet will rise by 3 trillion dollars up to 10 trillion dollars.

There will be nobody left to buy USA bonds except the Fed

(Simon Black/SovereignMan)

Will 2021 Be The Year The World Loses Faith In The US Dollar?

THURSDAY, JAN 14, 2021 – 5:00

Authored by Simon Black via SovereignMan.com,

Nearly 186 years ago to the week on January 8, 1835, US President Andrew Jackson accomplished what no other American president has done before, or since: he paid off the national debt.

Jackson was a staunch fiscal conservative. He despised banks, and, according to his biographer, he considered central banking “black magic”, and the national debt a “moral failing”.

So he paid it all off– roughly $5 million.

That was the first and only time that the US national debt was zero. By the end of 1835, the debt had increased to a trivial $33,733. Within three years it was 100x that amount at $3.3 million. And by 1847 it had increased another 10x to $33 million.

The trajectory continued; the national debt crossed $1 billion for the first time during the Civil War. Then $10 billion for the first time during World War I. Then $100 billion for the first time during World War II.

It crossed $1 trillion for the first time during the peak of the Cold War in the early 1980s.

And it crossed $10 trillion for the first time in 2008 after years of war in Iraq and Afghanistan, followed by the Global Financial Crisis.

The national debt is now nearly $28 trillion– 40% larger than the entire US economy. And the debt will most certainly hit $30 trillion over the next several months.

Last year alone the debt grew by $4.5 trillion due to all the Covid stimulus.

This matters. Because, sooner or later, that debt is going to mature and will need to be repaid.

Now, traditionally, whenever government bonds mature, many investors simply reinvest their proceeds into a brand new bond.

In this way, the government doesn’t actually have to pay anyone back; they just keep refinancing and kicking the can down the road farther out into the future.

And the Treasury Department is praying that bondholders will continue this practice forever.

Unfortunately that’s probably not going to happen.

For starters, foreign governments like China and Japan (which are among of the biggest owners of US government debt) have already started reducing their holdings.

Back in February, just prior to Covid gripping the world, foreigners owned $7.23 trillion worth of US government bonds– approximately 30% of the total national debt.

By October (which is the most recent data available from the Treasury Department), the total amount had fallen slightly to $7.07 trillion. But as a percentage, foreigner ownership had dropped to about 25% of the total national debt.

This isn’t a earth-shattering decline. But it shows a clear unwillingness from foreign governments to buy more US government debt; and also that some of them would like to be repaid when their existing bonds mature.

Just look at China. After years of rising tensions, China has gradually reduced its holdings of US debt, from a peak of $1.32 trillion in November 2013, to $1.07 trillion in October 2020.

And it’s unlikely that China will suddenly have a fit of generosity and choose to extend their US Treasury holdings.

Aside from foreign governments, another major holder of US government debt is the Social Security program; in other words– US citizens.

Social Security built up enormous cash reserves over the years in its various trust funds, and those trust funds are 100% invested in US government bonds.

Traditionally, Social Security always buys new bonds whenever its existing bonds mature. So they keep refinancing the debt for the US government.

But now Social Security has a huge problem: the trust funds are rapidly running out of money. Prior to Covid, the Treasury Secretary estimated that Social Security’s trust funds would be fully depleted by 2034.

But Covid has ravaged Social Security’s finances.

Unemployment surged, countless businesses closed, and payroll taxes were suspended. In other words, there was no money being paid into the trust funds.

At the same time, Social Security payments increased; even more people have retired and started collecting benefits. So while Social Security inflows went to zero, the outflows jumped.

And some analysts (like the Bipartisan Policy Center) now estimate that the program’s trust funds could be fully depleted as early as 2029 because of the adverse Covid impact.

So, needless to say, Social Security will need to be paid back when its Treasury bonds mature in the coming years.

As it turns out (according to Bloomberg) $8 TRILLION worth of government debt in the US will mature THIS YEAR alone.

Plus, the Congressional Budget Office expects another $2+ trillion deficit this year due more Covid stimulus.

So that’s potentially $10+ trillion worth of government debt that will need to be placed this year. That’s $300,000 per second.

The only way they’ll realistically accomplish this is if the Federal Reserve ‘prints’ trillions of dollars of new money.

The Fed did this last year; in January 2020, the Fed owned $2.3 trillion worth of US government debt. Today they own $4.7 trillion, plus trillions more in other bonds, for a total balance sheet of $7 trillion.

This is the ‘black magic’ of central banking; the Fed conjured money out of thin air and expanded the money supply by roughly 25% last year. Then they used that money to buy US government bonds.

They’ll have to do it again this year and create trillions of dollars more.

It is rather interesting that Janet Yellen is the incoming Secretary of the Treasury; she used to be Fed chair, and during her tenure she oversaw unprecedented money printing programs.

So there will likely be plenty of cooperation between the Fed and Treasury to print absurd quantities of money this year.

Certainly there will be some bondholders who extend their securities. But most likely the Fed will need to print another $3+ trillion, pushing its balance sheet beyond the $10 trillion mark.

And if they really go down this destructive path– $30 trillion national debt, a $10 trillion Fed balance sheet– then 2021 may be the year that the world finally loses confidence in the US dollar.

*  *  *

On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years. That’s why we published a new, 50-page long Ultimate Guide on Gold & Silver that you can download here.

With many fleeing New York City, DeBlasio now boasts that New York will terminate doing busines with the Trump organization

(zerohedge)

De Blasio Boasts That New York Will “Terminate” Doing Business With The Trump Organization

THURSDAY, JAN 14, 2021 – 9:05

In a display of complete irony and hubris, New York City Mayor Bill de Blasio – singlehandedly responsible for turning NYC into a ghost town over the last 12 months – took to Twitter yesterday to boast about the city ending its business relationships with the Trump Organization.

“New York City doesn’t do business with insurrectionists,” he wrote. “We’re taking steps to TERMINATE agreements with the Trump Organization to operate the Central Park Carousel, Wollman and Lasker skating rinks, and the Ferry Point Golf Course.”

De Blasio also took to MSNBC this week, stating on the air: “The contracts make very clear: If the leadership of a company is engaged in illegal activity, we have the right to sever the contract. Inciting an insurrection against the U.S. government clearly constitutes criminal activity.”

But leading an insurrection against the NYPD isn’t, Bill?

BNN reports that the city believes it is on “strong legal ground” with its efforts. “They have profited from these contracts. They will profit no longer,” De Blasio said. A legal challenge from the Trump Organization is all but assured.

Currently the Trump Organization has more than $17 million in contracts with the city, including the famous Wollman skating rink, which generated $9.4 million in income.

“The administration will be notifying the Trump Organization that the city will cancel its agreements to operate the Central Park Carousel, Wollman and Lasker skating rinks and Ferry Point Golf Course in accordance. The contracts for the carousel and the ice rinks would end in coming weeks. The process for terminating the Ferry Point Golf Course is more detailed and is expected to take months,” De Blasio said in a statement.

The city of New York is the latest in the mob to “cancel” President Trump after last week’s Capitol Hill protests. That list now includes Lehigh University, Deutsche Bank, the PGA of America, Cushman & Wakefield real-estate services and corporations like Google, Facebook and Shopify.

Meanwhile, while NYC mayor De Blasio was worrying about who to “cancel” next, NYC saw a surge in homicides in 2020, helped along by the Mayor’s lack of support for policing. “New York City recorded 447 homicides for the year as of Tuesday, a 41 percent increase over 2019 and the largest tally since 2011,” NY Mag wrote back in December.

iv) Swamp commentaries

Turley: The Senate should reject the impeachment of Trump as it has no merit

(Turley)

Turley: The Senate Should Reject The Impeachment

WEDNESDAY, JAN 13, 2021 – 17:25

Authored by Jonathan Turley,

With the entry of the 217th vote, the House of Representatives have impeached President Donald Trump for a second time.

As I have previously stated, my primary objection to this action is the use of a snap impeachment that dispenses with the traditional hearing or inquiry of impeachment. There was no opportunity to debate the language or the implications of the language. Indeed, the House gave the President a threshold challenge based on this process.

With the addition of a possible trial after Trump leaves office, the rush to judgment could become a parade of constitutional horribles. 

The use of impeachment to “remove” a president who has already left office is ripe for challenge on the Senate floor and even later in the federal courts.

On the merits, I do not fault those who view the President’s words as impeachable. I condemned both his words and his failure to denounce the violence immediately and unequivocally. However, the language of the article is sweeping and raises serious concerns of this standard for future presidents. There is a concern over presidents being removed for reckless rhetoric that leads to violence by supporters.  While I do not view the President’s words as amounting to criminal incitement, I did view them as inciteful, reckless, and wrong.

That is why I am more concerned with the use of a snap impeachment. I am hopeful that no president will ever engage in such inflammatory actions or words again. However, a House majority could use this as precedent for another circumvention of the traditional process in favor of a snap impeachment. This is what snap chat is to conversations. It reduces impeachment to a raw, brief, and partisan expression.

However, make no mistake about it: this ignoble moment was earned by the President.  While I have warned about the implications of impeaching a president for being obnoxious or narcissistic, this was obviously more than either of those character flaws. This was breathtakingly irresponsible conduct that has now resulted in a historic and ignoble distinction.

The question, however, is how costly it will prove for the Constitution. That is why I argued for condemnation by both house and both parties in a resolution of censure. I criticized this speech as it was being given and opposed the challenge to the election from the outset.  However, I remain deeply concerned over the implications of the process and language underlying this impeachment. Indeed, had the Democrats allowed for just a day of hearings to consider such concerns, the language of the article might have been drafted to achieve greater support.

In my view, the Senate should reject the impeachment if on the basis that an impeachment of a former president is unwarranted and likely unconstitutional. That is entirely separate from the use of a snap impeachment and the specific language used by the House.

end

Louie Gohmert DUNKS on Pelosi – Quotes Her Support for Black Lives Matter Riots on House Floor– Liberals Freak Out!

PShare

Rep. Louie Gohmert (R-TX) flipped the script on Democrats on the House floor today.

After a summer of Democrat-sanctioned rioting and $2 billion in damages, Democrats and their fake news media are trying desperately to push to the American public that Republicans and Trump supporters are the violent ones.

This is as outrageous as it is dishonest.

On Wednesday Rep. Gohmert read off Pelosi’s previous statement on the House floor. It did not occur to Democrats that Louie was quoting Speaker Pelosi.
They lost it!

Louie Gohmert: I just don’t know why there aren’t more uprisings all over the country and maybe there will be.

TRENDING: House Impeaches President Trump with 232-197 Vote – 10 Republicans Join Democrats and Vote in Favor of Impeachment

The left was totally unprepared for the remarks.

end

DC police reject FOIA request. The Republicans have inside leaked maps and internal documents which assisting rioters navigate the building

(Laila/Gateway Pundit)

DC Police Reject FOIA Request For Records Related to Their Probe of Siege of Capitol – Insider Leaked Maps, Internal Docs to Help Assist Rioters Navigate Building

What did Pelosi and McConnell know of the planned attack on the US Capitol before the House impeached President Trump for inciting violence?

President Trump was blamed for the siege of the US Capitol last Wednesday, however the FBI confirmed the attack was planned several days in advance.

Investigative reporter John Solomon dropped a bombshell on Wednesday night and said the DC police rejected his FOIA request for records pertaining to their investigation of the siege of the U.S. Capitol.

The DC police said release of the records would be ‘personally embarrassing’ and privacy invading to release the documents.

TRENDING: House Impeaches President Trump with 232-197 Vote – 10 Republicans Join Democrats and Vote in Favor of Impeachment

“We’re gonna fight for those documents but something tells me what’s in those documents has some very very big relevance to what happened on The Hill and the question I have is what did Nancy Pelosi know, what did Mitch McConnell know about these threats beforehand,” John Solomon told former Missouri Governor Eric Greitens. “If they didn’t know then, it’s an intelligence failure of the police. If they did know there’s something they didn’t tell us before we went into this impeachment.”

Solomon said the FBI, NYPD and USCP had prior knowledge of plans for violence at the US Capitol, including intel threatening murder of police officers.

If this was a planned attack, you can’t accuse the President of inciting a spontaneous attack when it was planned days before.

John Solomon also said that inside sources leaked maps, internal documents helping to assist rioters enter and navigate the Capitol building.

The US Attorney is bringing a conspiracy case which is further proof the siege was planned.

end

Unity? CNN’s Don Lemon: If You Voted For Trump, You’re With The Klan, The Nazis, & The Rioters

THURSDAY, JAN 14, 2021 – 10:51

Can’t we all just get along?

Amid claims from the mainstream media that President-Elect Biden’s “rising above the fray” of commenting on President Trump’s impeachment, despite his constant claims that Trump was “unfit to hold office,” in an effort to unify our deeply divided nation, that very same mainstream media appears dead-set on stoking the fires of division with incendiary stereotyping like the following utter bullshit from Don Lemon.

In 100 short seconds, the CNN anchor managed to tar every Republican voter as a white supremacist Klansmen siding with fascist nazis and supportive of the so-called insurrection at The Capitol, who wants slavery to come back and to bring back concentration camps…

Does any of that sound like hate-speech?

Talking of Klansmen?

We give the last word to Texas Rep Dan Crenshaw who summed things up rather well:

“This was always their intent. It’s not enough that their favorite villain is gone. Now they have to paint tens of millions of Americans as racists and bigots. Truly vile, but incredibly predictable.”

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

Americans Won’t Be Banned From Investing in Alibaba, Tencent and Baidu

Nine other Chinese companies will be added to Pentagon’s Chinese military companies list

https://www.wsj.com/articles/americans-wont-be-banned-from-investing-in-alibaba-tencent-and-baidu-11610563890

ECB’s Lagarde calls for regulating Bitcoin’s “funny business” [money laundering]

https://www.reuters.com/article/us-crypto-currency-ecb/ecbs-lagarde-calls-for-regulating-bitcoins-funny-business-idUSKBN29I1B1

Fox’s @JenGriffinFNC: There are more US troops deployed on Capitol Hill now than in Iraq or Afghanistan. The 15,000 mobilized for Inauguration equals 3 times the number of US troops in Iraq and Afghanistan combined.  [Dems and the MSM were livid when Trump contemplated using troops to halt the 2020 riots.  But when the Bastille is stormed, everything changes.]

For the second time in thirteen months, the US House has voted to impeach Trump.  Using impeachment as a political weapon will become a routine endeavor.  Should the GOP take the House in 2022, and history says they should, the GOP could impeach Biden, Pelosi, Swalwell and more.

GOP Rep. Marjorie Taylor Greene @mtgreenee: On January 21, 2021, I’ll be filing Articles of Impeachment against Joe Biden for abuse of power… #QuidProJoe#BidenCrimeFamilly

GOP @RepMattGaetz: Don’t think for a moment we’re going to stop pursuing the truth about the Biden crime family.

Alan Dershowitz: Efforts by the house to rush this impeachment and push Pence to invoke the 25th Amendment are stretching the constitution. Althou I disagree with his speech I defend his right to say it.

@seanspicer: Impeachment history: Johnson 83 days; Clinton 37 days; DJT (1) 21 days; DJT (2) 8 hours

The Babylon Bee: Trump Close To Filling Impeachment Punch Card for Free Sub Sandwich

Biden’s SEC pick is ominous sign for Wall St

He was charged with injecting more transparency into the opaque parts of derivatives trading after the 2008 financial crisis… Under Gensler, the CFTC brought cases against banks for rigging the Libor benchmark rate… High-profile companies in private equity and hedge funds may also be a target over fees they charge Progressives are also pressuring the Biden team to name Wall Street critics to lead the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau…  https://www.reuters.com/article/us-usa-biden-breakingviews-idUSKBN29I32Z

Isn’t it ironic?”  Wall Street savaged Trump when he ran and then he hired GS alums, which had prohibited employees from contributing to him, to set his domestic agenda.  Wall Street lavished beaucoup bucks on Joe and Biden might unleash a Grand Inquisitor on them.  Or is it poetic justice?

Most Disloyal Man in History Finally Finds a Cause Worth Fighting For – Ann Coulter

When it came to the wall, bringing the troops home, ending hedge fund managers’ tax loopholes and other campaign promises, Trump backed down to everybody: district court judges, Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan, the de facto president Jared Kushner, trusted Goldman Sachs alumnus Gary Cohn, useless donorsWhy didn’t he ever use his powers for good? Why did he never hold a rally on the ellipse and ask his supporters to pressure their representatives to fund the wall? To repeal Section 230? To penalize outsourcing?… they are the exact ideas that got Trump elected

    The deplorables, the left-behind, working-class Americans hanging on by their fingernails…bet their last dollar on Trump… Democrats despise them, and Trump uses them.  For four years, Trump screwed over these very working-class Americans while giving Sheldon Adelson, Wall Street and McConnell everything they wanted — sometimes things they didn’t even ask for!…

Trump came up with the manifestly insane idea that his vice president, Mike Pence, should refuse to certify the electoral votes Trump was setting up his supporters to be furious with Pence…

    The reason Trump was a lazy, feckless coward for the past four years was that, once it got him elected, he didn’t see how the MAGA agenda did anything for him. And the reason he became a whirling dervish of demagogic activity last week was that it was all about him.

https://anncoulter.com/2021/01/13/most-disloyal-man-in-history-finally-finds-a-cause-worth-fighting-for/

Is Pelosi rushing impeachment before evidence of Dems conspiring with Capitol rioters appears?

Democratic Member Accuses Colleagues of Conducting “Surveillance” for Capitol Rioters

Rep. Mikie Sherrill (D., N.J.) has gone public with an extraordinary allegation against some of her colleagues that they conducted secret surveillance in a conspiracy with rioters at the Capitol. If true, those members could be criminally charged and expelled from the House. Conversely, if Sherrill has no such evidence, she could (and should) face a resolution of censure or resolution…

        She said unidentified members of Congress “had groups coming through the Capitol” in “a reconnaissance for the next day.” Sherrill pledged to see those lawmakers “are held accountable, and if necessary, ensure that they don’t serve in Congress.”…

https://www.zerohedge.com/political/democratic-member-accuses-colleagues-conducting-surveillance-capitol-rioters

@CBS_Herridge: Capitol Riot SCOOP: A law enforcement official confirms @CBSNews the identification of individuals using military or “small unit tactics” is among the “highest priorities” for DC US Attorney’s Sedition Task Force. Video footage + eyewitness accounts of the apparent use of these tactics (trained to military + law enforcement) drew immediate scrutiny from investigators. CBS News has learned these tactics were witnessed both OUTSIDE + INSIDE the Capitol Building. NOTE: These tactics are commonly used in hostile, unknown  environments to clear rooms + reach mission objectives. They can include hand signals or physical contact, to unify the group + communicate directions. These are TRAINED behaviors (my emphasis) [Professional, trained rioters – who funded them?  No wonder there is a rush to impeach Trump!  When the truth arrives, who will suffer?]

Our personal view is that Trump will be too toxic and lacking in the necessary vigor to run in 2024 – and the USA needs new leadership.  (PS – We were told that Trump had become bored with the presidency and only lusted for the fight.)  We think Ann Coulter is right: “Americans want Trumpism (populism) without Trump.”  If true, after some mourning period, populist will find another standard bearer.

Woman Arrested For Alleged Election Fraud, Illegal Voting In Texas

Rodriguez is accused of election fraud, illegal voting, unlawfully assisting people voting by mail and unlawfully possessing an official ballot, according to Paxton. She could face up to 20 years in prison…

https://dfw.cbslocal.com/2021/01/13/rachel-rodriguez-arrested-alleged-election-fraud-illegal-voting-texas/#.X_8_EsxWj1w.twitter

Newsmax’s @EmeraldRobinson: Both political parties in Washington would like to use the Capitol protest on Jan 6th as a pretext to avoid conducting a 10 day audit of the election results.  And everybody knows it.

Former Democrat Leader Tom Daschle Warns Against Impeaching Trump Again

It would first “galvanize” Trump’s supporters and then delay work on crucial issues…

https://www.breitbart.com/politics/2021/01/12/former-democrat-leader-tom-daschle-warns-against-impeaching-trump-again/

80% of Trump voters and 76% of Republicans are less likely to vote for a member of Congress who votes for impeachment.   https://twitter.com/TrumpWarRoom/status/1349345931943174146

You can’t win, Vader.  If you strike me down, I shall become more powerful than you can possibly imagine.” – Obi-Wan Kenobi to Darth Vader during their climatic fight in Star Wars

@Peoples_Pundit: It’s easy to understand why leaders in both parties want to prevent Trump from running again, or another Trump. Their failures led to him. Nothing has changed in 4 years. They’ve not learned, and will fail again. They are the reason people will inevitably want another Trump.

McConnell leans toward convicting Trump

“The Senate institutional loyalists are fomenting a counterrevolution”…prohibited from running for president again… https://www.axios.com/mcconnell-trump-convict-impeachment-trial-99246975-8c02-47f4-90d3-14a23c00afd1.html

At a minimum, the GOPe and Dems will make Trump a martyr to his followers and strengthen his voice to bash the GOPe and Dems from the sidelines.  We would bet that Trump will make term limits, which is very popular with the populace, as one of his crusades.  Instead of greasing the exit for Trump, the GOPe is showing that it is as rabid as Dems to exact revenge and retribution on DJT for crashing their party in 2016.  The GOPe will pay a substantial price for this.

@danielchaitin7: Hannity tells his Fox audience “we” spoke to Mitch McConnell’s office about the big New York Times report tonight saying the Senate majority leader believes Trump committed impeachable offenses, and they said it is full of “salacious nonsense” https://twitter.com/danielchaitin7/status/1349190175855955968

About an hour after reports that the Senate would take up Trump’s 2nd impeachment, the WaPo reported:

US Senate Majority Leader McConnell wouldn’t consent to reconvene immediately

@marianne_levine: In a copy of the letter, McConnell reiterates “it would require the consent of all 100 senators to begin acting on any articles of impeachment” before January 19 [Inauguration is Jan. 20]

@ByronYork: Mitch McConnell on impeachment: ‘There is simply no chance that a fair or serious trial could conclude before President-elect Biden is sworn in.’ Therefore, no trial before inauguration.

Business Insider’s The Long View @HayekAndKeynes: Everyone wants to impeach Trump but no one will want to do it. McConnell doesn’t want Trump on the ballot as a third party candidate but also doesn’t want to be blamed for impeaching himLet Schumer do it and then you complain it was the first thing they did in power

@ChadPergram: Schumer: A Senate trial can begin immediately, with agreement from the current Senate Majority Leader to reconvene the Senate for an emergency session, or it will begin after January 19th.  But make no mistake, there will be an impeachment trial in the United States Senate; there will be a vote on convicting the president for high crimes and misdemeanors; and if the president is convicted, there will be a vote on barring him from running again.  [Schumer admits Trump’s impeachment was a political weapon to prevent DJT from running in 2024.  Is this the America you want?]

Fox’s @ChadPergram: McConnell tells GOPers he’s made “no final decision” on how he would vote in an impeachment trial.  “While the press has been full of speculation, I have not made a final decision on how I will vote & I intend to listen to the legal arguments when they are presented to the Senate”

Mitch is trying to keep DJT in check, possibly to prevent declassification of sensitive documents.

Did McConnell float voting against DJT to gauge GOP donor sentiment?  He’s counting now.

Fox’s @ChadPergram: Dem MO Rep Cori Bush: The 117th Congress must understand we have a mandate to legislate in defense of black lives. The first step in that process is to root out white supremacy starting with impeaching the white supremacist in chief

DailyCaller: Dem Rep. Barbara Lee: “Donald Trump incited his white nationalist supporters to initiate an attempted coup against the heart of our democracy, the United States Capitol.”

https://twitter.com/DailyCaller/status/1349439239776333824

GOP Rep Matt Gaetz Goes Nuclear on the House Floor and Dems Lose It as He Calls out Their Hypocrisy for Months of Riots – “For months our cities burned, police stations burned, our businesses were shattered, and they said nothing!” “Or, they cheerlead for it, and they fundraised for it, and they allowed it to happen in the greatest country in the world,” he continued…https://redstate.com/brandon_morse/2021/01/13/matt-gaetz-goes-nuclear-on-the-house-floor-calls-out-democrat-hypocrisy-and-fault-for-months-of-riots-n309367

FLASHBACK: Rep. Maxine Waters and Sen. Cory Booker called for violence against elected leaders and Cabinet members – “That’s my call to action here,” Booker said. “Please, don’t just come here today and go home, go to the Hill today. Please, get up in the face of some congresspeople.”…

https://thepostmillennial.com/flashback-rep-maxine-waters-and-sen-cory-booker-called-for-violence-against-elected-leaders-and-cabinet-members

@RRHElections: The lead House manager impeaching President Trump for, among other things, refusing to accept the results of the 2020 election is Rep. Jamie Raskin (D)who … objected to certifying the 2016 Presidential election results.

GOP Rep Jim Jordan slams Dems’ ‘double standards’ at Trump impeachment vote

Democrats objected to more states in 2016 than Republicans did last week, but somehow we’re wrong?” he went on, noting that Democrats had spent four years investigating Trump but refused to look at an election that millions of people had doubts about…  https://trib.al/sbvxyzO

Rep McClintock: ‘If We Had Prosecuted BLM and Antifa … With the Same Determination,’ Capitol Riot Might Not Have Happened

https://dailycaller.com/2021/01/13/rep-tom-mcclintock-prosecuted-blm-antifa-determination-capitol-riot-might-not-happened/

Dilbert creator @ScottAdamsSays: If Republicans don’t submit articles of impeachment for Kamala Harris for encouraging summer BLM protests, they might want to think twice about impeaching Trump for the same behavior.

Rush to judgement? Three crucial questions remain unanswered about Capitol siege

What did Nancy Pelosi know? A prior plot or spontaneous riot? Were there inside facilitators?

    One thing recent history has taught America is the first storyline of major tragedies or controversies is never the most accurate.

    Americans were told by the Bush administration that they were sucker-punched by a surprise attack on 9/11 by terrorists, only to learn the CIA and FBI had significant advance evidence of the plot and its players and failed to connect the dots.

    Susan Rice originally told the nation that the attack on the U.S. consulate in Benghazi was carried out spontaneously by a mob angered by an anti-Muslim video. The attack, it turned out, was pre-planned and carried out by an al-Qaeda-aligned terror group in Libya.

    The country was assured Christopher Steele’s dossier provided credible evidence of Donald Trump colluding with Russia, when in fact the CIA and FBI knew almost immediately it was uncorroborated and based in part on Russian disinformation

The FBI admitted Tuesday it received information ahead of the Jan. 6 tragedy suggesting some participants were planning a “war” on the Capitol, including killing officers and distributing maps of the complex. It alerted Washington D.C. law enforcement through the joint terrorism task force alert system. It also “disrupted” the travel plans of some of the suspected trouble-makers…

   Protesters began breaching the perimeter of the Capitol a full 20 minutes before Trump finished his speech… A senior intelligence official told Just the News he has found no evidence that the president, the White House or the National Security Council was alerted in formal intelligence briefings to the pre-warnings or suspicions of violence the FBI and NYPD have admitted they had…

The second major question that remains unanswered is: What did House Speaker Nancy Pelosi and the other leaders in Congress know — and when did they know it — about the possibility for violence and the Pentagon’s pre-attack offer to send National Guardsmen to reinforce the Capitol Police?…

     There is this troubling third question: Were there facilitators inside the Capitol and outside it who instigated or enabled the attack to be carried out?…

https://justthenews.com/government/congress/three-critical-questions-about-capitol-siege-remain-unanswered

Biden Personnel Chief Served At Chinese Intel Org Flagged By FBI for Recruiting Western Spies

Thomas Zimmerman, who will serve as a Special Assistant to the President for Presidential Personnel under Joe Biden, formerly served as a visiting scholar at what the FBI has called a “front group for Chinese intelligence collection and overseas spy recruitment,” The National Pulse can reveal…

https://thenationalpulse.com/exclusive/biden-personnel-adviser-chinese-intel-spies/

CNN anchor Jake Tapper claimed that Republican Rep. Brian Mast, a veteran who lost both of his legs in combat, doesn’t care about the United States.

   “Congressman Brian Mast, a Republican from Florida, who lost his legs, by the way, fighting for democracy abroad, although I don’t know about his commitment to it here in the United States,” Tapper said in a live broadcast Wednesday afternoon…

https://thefederalist.com/2021/01/13/jake-tapper-says-gop-veteran-who-lost-his-legs-in-combat-doesnt-care-about-america/

Well that is all for today

I will see you FRIDAY night.

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