JUNE 9//TOMORROW THE ALL MPORTANT RELEASE OF THE CPI//GOLD PRICE TODAY: UP $1.05 TO $1892.10//SILVER IS UP 17 CENTS TO $27.87//A MONSTER QUEUE JUMP OF 33,300 OZ //NEW GOLD STANDING AT THE COMEX: 70.03 TONNES//SILVER OZ STANDING AT THE COMEX 12.955 MILLION OZ//CORONAVIRUS UPDATE/VACCINE UPDATES/IVERMECTIN UPDATE//IRAN VS USA VS EUROPE: GOING NOWHERE ON THEIR NUCLEAR DEAL//BIDEN TO KEEP SANCTIONS ON IRAN//O/N REVERSE REPO REACHES 1/2 TRILLION DOLLARS AS THE MARKETS ARE BROKEN//SWAMP STORIES FOR YOU TONIGHT//

 GOLD:$1892.10  UP $1.05   The quote is London spot price

Silver:$27.87  UP 17 CENTS   London spot price ( cash market)

 

 
 
 

Closing access prices:  London spot

i)Gold : $1888.70 LONDON SPOT  4:30 pm

ii)SILVER:  $27.77//LONDON SPOT  4:30 pm

 

PLATINUM AND PALLADIUM PRICES BY GOLD-EAGLE (MORE ACCURATE)

 

 

PLATINUM  $1152.45  DOWN $13.67

PALLADIUM: $2575.29 DOWN $30.15  PER OZ.

 

 

James McShirley on the pricing of gold eagles/and silver eagle

James Mc late this afternoon… May 3

Coin premiums to spot widening- Silver Eagles look like around 50%+ to spot. Gold Eagles +$170 to spot. How long can they keep this derivatives charade going?

Jim McShirley

May 5: Jim McShirley:

Meanwhile the separation between physical and spot continues to increase. Gold Eagles are now showing +$180 or more to spot on several popular sites. Silver Eagles are +$13 and up to spot. If you ignore the ticker going by on cable news gold is nearly $2k in the real world, silver $40. That’s still a pittance, but nothing like MSM is presenting to the public.

may 17  Jim McShirley

Forgot to mention the Gold Eagle physical to spot widened another $5 today, now around +$185 or more. Spot has practically become like the GLD, which is little more than a heavily-discounted tracker to the real stuff. Gold coins are indeed MUCH closer to all-time highs than the Crimex price. It will be interesting to see if this keeps blowing out until spot prices are meaningless.

May 19: James McShirley

Coin premiums to spot continue to widen. Gold Eagles blew out another $20 and are now +$200 and up to spot. Despite the futures selloff Silver Eagles are holding steady around $40 and up. Physical buying is belying the Crimex racket. 

may 28 James McShirley

Gold Eagle premiums to spot have further widened to +$225 and up. The U.S. Mint has essentially declared force majeure with silver coin production due to “global shortages.” Never mind LEGALLY the U.S. Mint should be in a bidding war to the moon if necessary to procure adequate silver supplies. That’s what is happening with lumber, and should be happening with silver as well. The mandatory lockdowns (the gold/silver suppression variety, not virus) are reaching extreme pressures. The days of both metals spinning in place all day are drawing to a close. The sound and fury of hyperinflation is becoming readily apparent to even the people who are drinking the MSM Kool- Aid. MOPE is lost, and the “inflation expectations” that the Fed SO cares about is soaring. It’s prime time, gold and silver time. Let ‘er rip.

James Mc

June 7: James McShirley

The Gold Eagle/spot price spread has widened further today, now $232 and up. Also the April 2022 Crimex futures price is only a measly +$7 to spot. How absurd that the alleged risk for higher gold prices TEN months out is only seven bucks, or 0.37%! How could any sane person short April 2022 gold at $1907 knowing the odds of hyperinflation, economic turmoil is practically at 100%? The sane people in fact aren’t selling, it’s the insane people at the cartel banks doing the selling.

***

END

Editorial of The New York Sun | February 1, 2021

end

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COMEX DATA

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

receiving today  4/23

EXCHANGE: COMEX
CONTRACT: JUNE 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,892.200000000 USD
INTENT DATE: 06/08/2021 DELIVERY DATE: 06/10/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 H GOLDMAN 5
099 H DB AG 3
323 H HSBC 2
435 H SCOTIA CAPITAL 6
555 H BNP PARIBAS SEC 1
661 C JP MORGAN 4
905 C ADM 23 2
____________________________________________________________________________________________

TOTAL: 23 23
MONTH TO DATE: 20,524

ISSUED:  0

Goldman Sachs:  stopped: 5

 
 

NUMBER OF NOTICES FILED TODAY FOR  JUNE. CONTRACT: 23 NOTICE(S) FOR 2300 OZ  (0.0715 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  20,524 FOR 2,052,400 OZ  (63.838 TONNES)

EXCHANGE: COMEX
CONTRACT: JUNE 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,892.200000000 USD
INTENT DATE: 06/08/2021 DELIVERY DATE: 06/10/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 H GOLDMAN 5
099 H DB AG 3
323 H HSBC 2
435 H SCOTIA CAPITAL 6
555 H BNP PARIBAS SEC 1
661 C JP MORGAN 4
905 C ADM 23 2
____________________________________________________________________________________________

TOTAL: 23 23
MONTH TO DATE: 20,524

SILVER//JUNE CONTRACT

27 NOTICE(S) FILED TODAY FOR 135,000  OZ/

total number of notices filed so far this month 2471  :  for 12,365,000  oz

 

BITCOIN MORNING QUOTE  $34,592  UP 1721  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$34,339 UP 1468 DOLLARS

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  UP $4.00 AND NO PHYSICAL TO BE FOUND ANYWHERE:

WITH ALL REFINER CLOSED//MEXICO ORDERING ALL MINES SHUT:   WHERE ARE THEY GETTING THE “PHYSICAL?:    A NO CHANGES IN GOLD INVENTORY AT THE GLD

 

 

WITH RESPECT TO GLD WITHDRAWALS:  (OVER THE PAST FEW MONTHS)

GOLD IS “RETURNED” TO THE BANK OF ENGLAND WHO ARE CALLING IN THEIR LEASES: THE GOLD NEVER LEAVES THE B OF ENGLAND IN THE FIRST PLACE. THE BANK IS PROTECTING ITSELF IN CASE OF COMMERCIAL FAILURE

THIS IS A MASSIVE FRAUD!!

GLD  1037.33 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 17 CENTS

NO CHANGES IN SILVER INVENTORY AT THE SLV:. 

 

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

THE SILVER WITHDRAWALS ARE ACTUALLY “RETURNED” TO JPM, AS JPMORGAN CALLS IN ITS LEASES WITH THE SLV FUND.  (THE STORY IS THE SAME AS THE BANK OF ENGLAND’S GOLD). THE SILVER NEVER LEAVES JPMORGAN’S VAULTS. THEY ARE CALLING IN THEIR LEASES FOR FEAR OF SOLVENCY ISSUES.

INVENTORY RESTS AT:

577.459  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 176.96 DOWN $0.36 OR  0.20%

XXXXXXXXXXXXX

SLV closing price NYSE 25.78 UP $0.17 OR 0.66%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Let us have a look at the data for today

THE COMEX OI IN SILVER FELL BY A FAIR SIZED 579 CONTRACTS FROM 185,420 DOWN TO 184,841, AND FURTHER FROM  THE NEW RECORD OF 244,710, SET FEB 25/2020. THE SMALL LOSS IN OI OCCURRED WITH OUR $0.28 LOSS IN SILVER PRICING AT THE COMEX  ON TUESDAY. IT SEEMS THAT THE LOSS IN COMEX OI IS PRIMARILY DUE STRONG BANKER AND ALGO  SHORT COVERING AS OUR BANKER FRIENDS ARE GETTING QUITE SCARED OF BASEL III COMING JUNE 28/2021 !//STRONG REDDIT RAPTOR BUYING//.. COUPLED AGAINST A SMALL EXCHANGE FOR PHYSICAL ISSUANCE. WE THUS  HAD ZERO LONG LIQUIDATION 

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN SILVER TODAY:  14 CONTRACTS.

WE WERE  NOTIFIED  THAT WE HAD A  SMALL  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 357,, AS WE HAD THE FOLLOWING ISSUANCE:, JUNE: 0 JULY 357 AND SEPT 0 ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 357 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 A FEW OF THEM! SILVER IS IN BACKWARDATION AND AS SUCH THE DANGER TO OUR BANKERS IS LONDONERS WILL PURCHASE CHEAPER FUTURES METAL OVER HERE AND THEN TAKE DELIVERY.

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 33 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

2020

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***(5THHIGHEST RECORDED STANDING FOR SILVER)

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470  MILLION OZ FINAL STANDING IN JULY…RECORD HIGHEST EVER RECORDED

6.475 MILLION OZ FINAL STANDING IN AUGUST

55.400 MILLION OZ FINAL STANDING IN SEPT (3RD HIGHEST RECORDED STANDING)

8.900 MILLION OZ INITIALLY STANDING IN OCT.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.685 MILLION OZ FINAL STANDING FOR DEC. (4TH HIGHEST RECORDED STANDING)

2021

60 MILLION FINAL STANDING FOR JAN 2021

12.020  MILLION OZ FINAL STANDING FOR FEB 2021

58.425 MILLION OZ FINAL STANDING FOR MARCH 2021//2ND HIGHEST EVER RECORDED

14.935 MILLION OZ FINAL STANDING FOR APRIL

36.365 MILLION OZ FINAL STANDING FOR MAY 

12.985 MILLION OZ INITIAL STANDING FOR JUNE

 

TUESDAY, AGAIN OUR CROOKS USED COPIOUS PAPER TRYING TO LIQUIDATE SILVER’S PRICE …AND THEY WERE
SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.28). AND WERE  SOMEWHAT SUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME SILVER LONGS WITH TUESDAY’S TRADING.  WE HAD A TINY LOSS OF 222 CONTRACTS ON OUR TWO EXCHANGESTHE LOSS WAS DUE TO i) HUGE BANKER/ALGO SHORT COVERING// WE ALSO HAD  ii) STRONG REDDIT RAPTOR BUYING//.    iii)  A  SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A VERY STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 11.110 MILLION OZ FOLLOWED BY A 120,000 OZ QUEUE  JUMP ON DAY 9 OF THE DELIVERY CYCLE, WITH 12.985 MILLION OZ NOW STANDING FOR DELIVERY//  v) FAIR COMEX OI  LOSS /
.
YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..
 

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

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

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

 
 

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

.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO SILVERAS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER 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 NON ACTIVE DELIVERY MONTH OF APRIL. HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF MAY FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON ACTIVE MONTH OF MAY. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (MAY), 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

 

JUNE

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

7949 CONTRACTS (FOR 8 TRADING DAY(S) TOTAL 7949 CONTRACTS) OR 39.745 MILLION OZ: (AVERAGE PER DAY: 993 CONTRACTS OR 4.968 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JUNE: 39.745  MILLION PAPER OZ HAVE MORPHED OVER TO LONDON

JAN EFP ACCUMULATION FINAL:  113.735 MILLION OZ

FEB EFP ACCUMULATION FINAL:   208.18 MILLION OZ (RAPIDLY INCREASING AGAIN)

MAR EFP ACCUMULATION SO FAR: : 103.450 MILLION OZ  (DRAMATICALLY SLOWING DOWN AGAIN//FEARS OF EFP CONTRACTS BEING EXERCISED FOR METAL)

APRIL: 84.730 MILLION OZ  (SILVER IS NOW IN SEVERE BACKWARDATION AND THUS DRAMATICALLY FEWER ISSUANCE OF EFP’S)

MAY: 137.83 MILLION OZ

 

JUNE:  39.745 MILLION OZ// ISSUANCE CONSIDERABLY BELOW THE MONTH OF MAY.

 

RESULT: WE HAD A FAIR DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 579, WITH OUR  $0.28 LOSS IN SILVER PRICING AT THE COMEX ///TUESDAY .…THE CME NOTIFIED US THAT WE HAD A  SMALL SIZED EFP ISSUANCE OF 357 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A TINY SIZED LOSS  OF 222 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR $0.28 LOSS IN PRICE)//THE DOMINANT FEATURE TODAY// HUGE BANKER SHORTCOVERING/  AND A VERY STRONG INITIAL SILVER OZ STANDING FOR JUNE. (11.110 MILLION OZ FOLLOWED BY A 120,000 OZ QUEUE JUMP  AS THE NEW TOTAL OF SILVER STANDING RISES AT 12.985 MILLION OZ. 

 

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  357  OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH FAIR SIZED DECREASE OF 579 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.28 LOSS IN PRICE OF SILVER/AND A CLOSING PRICE OF $27.60//TUESDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

WE HAD 27 NOTICES FILED TODAY FOR 135,000 OZ

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

 
 
 
 

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A SMALL SIZED SIZED 209 CONTRACTS TO 491,858 ,,AND CLOSER TO  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. 

 

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: 1474 CONTRACTS.

THE TINY SIZED INCREASE IN COMEX OI CAME WITH OUR FALL IN PRICE  OF $4.00///COMEX GOLD TRADING//TUESDAY. AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE ALSO HAD ZERO LONG LIQUIDATION AS, WE HAD A SMALL SIZED GAIN ON OUR TWO EXCHANGES OF 2,840 CONTRACTS.  WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JUNE AT 69.73 TONNES. AFTER SOME MORPHING OF GOLD TO LONDON EARLY IN THE DELIVERY CYCLE, WE ARE NOW BACK TO QUEUE JUMPING AS 33,300 OZ REFUSED TO MAKE THE JUMP OVER TO LONDON AND ARE NOW STANDING AT THE COMEX. 

 

NEW TOTAL OF GOLD TONNAGE STANDING FOR JUNE:  70.03 TONNES/

 

YET ALL OF..THIS HAPPENED WITH OUR FALL IN PRICE OF $4.00 WITH RESPECT TO TUESDAY’S TRADING

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

WE HAD  A SMALL SIZED GAIN OF 2,840 OI CONTRACTS (8.83 TONNES) ON OUR TWO EXCHANGES…

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1157 CONTRACTS:

CONTRACT  AND JUNE:  0; AUGUST: 1157  ALL OTHER MONTHS ZERO//TOTAL: 1157 The NEW COMEX OI for the gold complex rests at 491,858. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1366 CONTRACTS:  209 CONTRACTS INCREASED AT THE COMEX AND 1157 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 1366 CONTRACTS OF 4.25 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1157) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI (209 OI): TOTAL GAIN IN THE TWO EXCHANGES:  1,366 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING/BIS MANIPULATION!, , AS OUR BANKERS ARE RUNNING FROM DODGE AND CONSIDERABLE ALGO SHORT COVERING ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR JUNE AT 69.730 TONNES, BUT FOLLOWED BY A 33,300 OZ QUEUE JUMP//NEW COMEX TOTALS 70.03 TONNES //3) ZERO LONG LIQUIDATION,  /// ;4) SMALL COMEX OI GAIN AND 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL AND ….ALL OF THIS HAPPENED WITH OUR LOSS IN GOLD PRICE TRADING TUESDAY//$4.00!!.

 
 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

JUNE

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 22,262, CONTRACTS OR 2,226,200 oz OR 69.24 TONNES (8 TRADING DAY(S) AND THUS AVERAGING: 2782 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 8 TRADING DAY(S) IN  TONNES: 69.24 TONNES

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

THUS EFP TRANSFERS REPRESENTS 69.24/3550 x 100% TONNES =1.84% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE:
 
JANUARY: 265.26 TONNES (RAPIDLY INCREASING AGAIN)
 
FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..
 
 
MARCH:.   276.50 TONNES (STRONG AGAIN///IT SURPASSED JANUARY!!)

 

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      69.24 TONNES (NOW BELOW PAR WITH RESPECT TO MAY)

 

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 FAIR SIZED 579 CONTRACTS FROM 185,420 DOWN TO 184,841 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  3 1/4 YEARS AGO.  

EFP ISSUANCE 357 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 JUNE: 0, JULY 357: ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  357CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 579 CONTRACTS AND ADD TO THE 357 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A TINY SIZED LOSS OF 222 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 1.11 MILLION  OZ, OCCURRED WITH OUR $0.28 LOSS 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 .

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

(Mark O’Byrne/zerohedge + OTHER COMMENTARIES

3. ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 11.29 PTS OR 0.32%   //Hang Sang CLOSED DOWN 38.75 PTS OR 0.13%      /The Nikkei closed DOWN 102.76 pts or 0.35%  //Australia’s all ordinaires CLOSED DOWN 0.27%

/Chinese yuan (ONSHORE) closed UP AT 6.3860 /Oil UP TO 70,38 dollars per barrel for WTI and 72.58 for Brent. Stocks in Europe OPENED ALL RED  //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3860. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3869   : /ONSHORE YUAN TRADING ABOVE 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

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

 

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A TINY  SIZED 209 CONTRACTS TO 491,858 MOVING CLOSER TO  THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS COMEX INCREASE OCCURRED DESPITE OUR LOSS OF $4.00 IN GOLD PRICING TUESDAY’S COMEX TRADING.WE ALSO HAD A SMALL EFP ISSUANCE (1157 CONTRACTS). …AS THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH.

 

WE NORMALLY HAVE WITNESSED  EXCHANGE FOR PHYSICALS ISSUED BEING SMALL AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS. IT SEEMS THAT ARE BANKERS FRIENDS ARE EXERCISING EFP’S FROM LONDON AND NOW THEY ARE LOATHE TO ISSUE NEW ONES.  

 

(SEE BELOW)

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

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW MOVING TO THE VERY ACTIVE DELIVERY MONTH OF JUNE..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 1157 EFP CONTRACTS WERE ISSUED:  ;: , JUNE:  0 & JULY 0 & AUGUST: 1157 AND THEN DECEMBER:  0 CONTRACTS & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1157  CONTRACTS 

 

WHEN WE HAVE BACKWARDATION,  EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED  1366 TOTAL CONTRACTS IN THAT 1157 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A SMALL SIZED COMEX OI OF 1157 CONTRACTS. WE HAVE A HUGE AMOUNT OF GOLD TONNAGE STANDING FOR JUNE   (68.9997) WHICH FOLLOWED MAY (5.77 TONNES FOLLOWING  (95.331 TONNES) IN APRIL, WHICH FOLLOWED MARCH:  (30.205 TONNES) WHICH FOLLOWED FEB (113.424 TONNES)  WHICH FOLLOWED OUR STRONG LEVEL JAN 2021 GOLD . ((6.500 TONNES).  

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $6.60)., AND THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A SMALL SIZED GAIN ON OUR TWO EXCHANGES OF 2,840 CONTRACTS. THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 4.25 TONNES,ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JUNE (68.9997 TONNES)..I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE HUGE GAIN IN COMEX OI IS DUE TO BANKER SHORT COVERING IN A BIG WAY.  THEY ARE LOOKING OVER THEIR SHOULDERS AND WITNESSING MASSIVE SILVER/GOLD SHORTAGES THAT CANNOT BE COVERED. THEY ARE TRYING TO FLEE IN HASTE “FROM DODGE”.

THE BIS REMOVED 1474  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES ::1366 CONTRACTS OR 136600 OZ OR  4/25  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 PRODUCT.
 
THUS IN GOLD WE HAVE THE FOLLOWING:  491,858 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 49.18 MILLION OZ/32,150 OZ PER TONNE =  1529 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1529/2200 OR 69.53% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:140,947contracts// volume /   / awful

CONFIRMED COMEX VOL. FOR YESTERDAY: 184,277 contracts// –poor  

// //most of our traders have left for London

 

JUNE 9 /2021

 
INITIAL STANDINGS FOR JUNE COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
 
 
 
 
64.310 OZ
Brinks
 
2 KILOBARS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz

NL oz

 

Deposits to the Customer Inventory, in oz
NIL OZ
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
23  notice(s)
 
2300 OZ
0.0715 TONNES
No of oz to be served (notices)
1991 contracts
 199,100oz)
 
6.1928 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
20,524 notices
2,052,400 OZ
63.838 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
 

We had 0 deposit into the dealer

 

 
 
total deposit:  NIL oz    
 
 
 

total dealer withdrawals: nil oz

we had 0 deposit into the customer account
 
 
 
TOTAL CUSTOMER DEPOSITS: NIL  oz
 
 
 
 
 
 
We had 1 withdrawals….
 
i) out of Brinks: 64.310 OZ
2 KILOBARS)
 
 
 
 
 
total withdrawals 64.310 oz
 
a net:   0.0019 tonnes LEAVES  the comex
actually nothing is coming in or out except kilobars
 
 
 
 
 
 
 
 
 

We had  2  kilobar transactions (2 out of 2 transactions)

ADJUSTMENTS  2//   dealer to customer

i) Malca    192.906 oz  (6 kilobars)

 

 
 
 
 
 
 
 
 
 
 

The front month of JUNE registered a total of 2014 CONTRACTS for a GAIN of 319 contracts. We had 14 notices filed on TUESDAY, so we GAINED A HUGE 333  contracts or an additional 33,300 oz  will stand for delivery in this very active delivery month of June.  We will now have queue jumping being the norm from this day forth until the end of the month as bankers scrounge around for some comex gold to put out fires elsewhere.

.

 

 
 
 
 
JULY GAINED 382 CONTRACTS TO STAND AT 2769.
 
AUGUST LOST A SMALL 1623 CONTRACTS UP TO 396,933.

We had 23 notice(s) filed today for 2300  oz

FOR THE JUNE 2021 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 23  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 4 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 4  notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the JUNE /2021. contract month, we take the total number of notices filed so far for the month (20,524) x 100 oz , to which we add the difference between the open interest for the front month of  (JUNE: 2014 CONTRACTS ) minus the number of notices served upon today  23 x 100 oz per contract equals 2,251,500 OZ OR 70.03 TONNES) the number of ounces standing in this active month of JUNE

thus the INITIAL standings for gold for the JUNE contract month:

No of notices filed so far (20,524) x 100 oz+ 2014)  OI for the front month minus the number of notices served upon today (23} x 100 oz} which equals 2,251,500 oz standing OR 70.03 TONNES in this  active delivery month of MAY.

We GAINED 333 contracts or an additional 33,300 oz will stand for metal over on this side of the pond.  
 
 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

447,898.216, oz NOW PLEDGED  march 5/2021/HSBC  13.93 TONNES

202,692.098 PLEDGED  MANFRA 6.30 TONNES

276,177.249, oz  JPM  8.59 TONNES

1,166,051.732 oz pledged June 12/2020 Brinks/36.26 TONNES

80,189,799, oz Pledged August 21/regular account 2.49 tonnes JPMORGAN

6,308.08 oz International Delaware:  .196 tonnes

192.906 oz Malca

total pledged gold:  2,172,929.094 oz                                     67.58 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 508.77 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 70.03 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  18,529,981.298 oz or 576.36 tonnes
 
 
total weight of pledged:  2,172,929.094 oz or 67.58 tonnes
thus:
 
registered gold that can be used to settle upon: 16,357,052.0 (508,77 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes  16,357,052.0 (508.77 tonnes)
 
total eligible gold: 16,230,282.884 oz   (504.83 tonnes)
 
 
total registered, pledged  and eligible (customer) gold 34,760,264.182 oz or 1,081.19 tonnes (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  954.85 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:
 
 
 
 
 
 
 
END

 

 
 
JUNE 9/2021
 
 

 

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//June

June. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
5928.200 oz
 
 
 
 
 
 
JPMorgan
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
1,067,542.548
 oz
 
 
 
 
 
 
 
 
CNT
JPMorgan
 
 
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
27
 
CONTRACT(S)
135,000 OZ)
 
No of oz to be served (notices)
126 contracts
 (630,000 oz)
Total monthly oz silver served (contracts)  2471 contracts

 

12,355,000 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 deposit into the dealer
 

total dealer deposits:   nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  2 deposit into customer account (ELIGIBLE ACCOUNT)

 
 
i) Into CNT:   485,467.808 oz
ii) Into JPMorgan: 579,132.320 oz
 
 
 
 
 
 
 
 

JPMorgan now has 187.5 million oz of  total silver inventory or 52.71% of all official comex silver. (187.5 million/355.707 million

total customer deposits today1,067,542.548   oz

we had 1 withdrawal

i) Out of JPMorgan; 5028.20 oz

 

 
 
 
 
 
 

total withdrawals 5028.200    oz

 
 

adjustments//0 

 

 
 
 

Total dealer(registered) silver: 109.059 million oz

total registered and eligible silver:  355.707 million oz

a net 1.05 million oz enters the comex silver vaults.

However we continually see a drop in dealer silver//now down to 109.059 million oz.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 
JUNE ROSE IN CONTRACTS BY 24 CONTRACTS UP TO 153. WE HAD 0 NOTICES SERVED ON TUESDAY SO WE GAINED 24 CONTRACTS OR 120,000 ADDITIONAL OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF JUNE
 
 
 
 
 

July LOST 9568 contracts DOWN to 123,126 contracts  

AUGUST GAINED ANOTHER 13 CONTRACTS TO STAND AT 216

SEPTEMBER GAINED 8114 CONTRACTS UP TO 40,428

 
No of notices filed today: 0 CONTRACTS for nil oz
 

To calculate the number of silver ounces that will stand for delivery in JUNE. we take the total number of notices filed for the month so far at  2471 x 5,000 oz = 12,355,000 oz to which we add the difference between the open interest for the front month of JUNE (153) and the number of notices served upon today 27 x (5000 oz) equals the number of ounces standing.

Thus the JUNE standings for silver for the JUNE/2021 contract month: 2471 (notices served so far) x 5000 oz + OI for front month of JUNE (153)  – number of notices served upon today (23) x 5000 oz of silver standing for the June contract month .equals 12,955,000 oz. ..VERY STRONG FOR A NON ACTIVE JUNE MONTH. 

We gained 120,000 additional oz standing in June as they refused to morph into London based forwards.

 

 

TODAY’S ESTIMATED SILVER VOLUME 75,449 CONTRACTS // volume VERY  good// 

 

FOR YESTERDAY  98,624  ,CONFIRMED VOLUME/  VERY good//

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  FALLS TO -0.49% (JUNE 9/2021)

SILVER FUND POSITIVE TO NAV

No of unit of PSLV: 402,810,481

No of oz of physical silver held; MAY 24/2021  144,515.694 OZ

No. of oz of physical silver held:  Sept 20/20: 85,907.369

No of oz pf physical silver held: Dec 21/2019:  65,073.570 oz

During the past 8 months Sprott has added: 58,608.30 Oz 

So far this year: 53.8 million oz

2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.21% nav   (JUNE 9

/2021 )

 

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

NAV $20.20 TRADING 19.87//NEGATIVE  1.64

END

And now the Gold inventory at the GLD/(this vehicle is a fraud as there is no gold behind them!)

JUNE 9/WITH GOLD UP $1.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1037.33 TONNES

JUNE 8/WITH GOLD DOWN $4.00 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 5.93 TONNES FROM THE GLD/.//INVENTORY RESTS AT 1037.33 TONNES

JUNE 7/WITH GOLD UP $6.50 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/” A DEPOSIT OF 1.41 TONNES INTO THE GLD///INVENTORY REST AT 1043.16 TONNES.

JUNE 4/WITH GOLD UP $18.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1041.75 TONNES

JUNE 3/WITH GOLD DOWN $35.75 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.08 TONNES FORM THE GLD.//INVENTORY RESTS AT 1041.75 TONNES

JUNE 2/WITH GOLD UP $4.85 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A DEPOSIT OF 2.62 TONNES OF PAPER GOLD INTO THE GLD///INVENTORY RESTS AT 1045.83 TONNES/

JUNE 1/WITH GOLD UP $0.10 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1043.21  TONNES

MAY 28/WITH GOLD UP $6.85 TODAY:A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/; A WITHDRAWAL OF .87 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 1043.21 TONNES

MAY 27/WITH GOLD DOWN $5.35 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1044.08 TONNES

MAY 26/WITH GOLD UP $4.45 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.04 TONNES FROM THE GLD//INVENTORY RESTS AT 1044.08 TONNES

MAY 25/WITH GOLD UP $13.25 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A DEPOSIT OF 2.30 TONNES INTO THE GLD///INVENTORY REST AT 1046.12 TONNES.

MAY 24/WITH GOLD UP $8.25 TODAY: NO CHANGES IN GOLD INVENTORY A THE GLD//INVENTORY RESTS AT 1042.92 TONNES

MAY 21/WITH GOLD DOWN $5.20 TODAY: TWO HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.82 TONNES OF GOLD INTO THE GLD AT 3 PM AND ANOTHER 5.83 TONNES ADDED AT 5.20 PM/INVENTORY RESTS AT 1042.92. TONNES

MAY 20/WITH GOLD UP 20 CENTS TODAY/A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 4.66 TONNES FROM THE GLD//INVENTORY RESTS AT 1031.27 TONNES

MAY 19/WITH GOLD UP $13.35 TODAY: NO CHANGES IN GOLD IVENTORY AT THE GLD//INVENTORY RESTS AT 1035.93 TONNES

MAY 18/WITH GOLD UP $.75 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A MASSIVE 7.57 TONNES OF GOLD ADDED TO THE GLD///INVENTORY RESTS AT 1035.93 TONNES

MAY 17  WITH GOLD UP $29.95 TODAY/// .. NO CHANGES IN GOLD INVENTORY AT THE GLD…INVENTORY RESTS AT 1028.36 TONNES

MAY 14  WITH GOLD UP $13.05… A BIG CHANGES IN GOLD INVENTORY AT THE GLD.//A DEPOSIT OF 3.21 TONNES INTO THE GLD//INVENTORY RESTS AT 1028.36 TONNES

MAY 12/WITH GOLD DOWN $12.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1025.15 TONNES

MAY 11/WITH GOLD DOWN $1.60 TODAY;  NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1025.15 TONNES

MAY 10/WITH GOLD UP $7.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/ A WITHDRAWAL OF 5.82 TONNES FROM THE GLD./INVENTORY RESTS AT 1025.15 TONNES.

MAY 7/WITH GOLD UP 20,70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1019.33 TONNES

MAY 6/WITH GOLD UP $15.10 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.13 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 1019.33 TONNES 

MAY 5/WITH GOLD UP $7.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1018.20

MAY 4/WITH GOLD DOWN $14.80 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.16 TONNES INTO THE GLD///INVENTORY RESTS AT 1018.20 TONNES.

MAY 3/WITH GOLD UP $23.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY REST AT 1017.04 TONNES./

APRIL 30/WITH GOLD UP $0.20 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 4.67 TONNES FROM THE GLD///INVENTORY RESTS AT 1017.04 TONNES.

APRIL 29//WITH GOLD DOWN $5.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1021.70 TONNES.

APRIL 28/WITHGOLD DOWN $4.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1021.70 TONNES.

APRIL 27/WITH GOLD DOWN $2.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES.

APRIL 26/WITH GOLD DOWN $1.80 TODAY;NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES

APRIL 23/WITH GOLD UP $3.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1021.70 TONNES

APRIL 22/WITH GOLD DOWN $11.30 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES

APRIL 21/WITH GOLD UP $14.41 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESSTS AT 1021.70 TONNES

APRIL 20/WITH GOLD UP $8.25 TODAY:A HUGE CHANGE IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.04 PAPER TONNES INTO THE GLD///INVENTORY RESTS AT 1021.70 TONNES

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

JUNE 9 / GLD INVENTORY 1037.33 tonnes

LAST;  1071 TRADING DAYS:   +112.36 TONNES HAVE BEEN ADDED THE GLD

LAST 971 TRADING DAYS// +  286.89 TONNES  HAVE NOW  BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them!)

JUNE 9/ WITH SILVER UP 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 577.228 MILLION OZ.

JUNE 8/WITH SILVER  DOWN 28 CENTS TODAY: TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 928,000 OZ AND THEN ANOTHER 231,000 OZ FROM THE SLV////INVENTORY RESTS AT 577.228 MILLION OZ//

JUNE 7/WITH SILVER UP 13 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 578.387 MILLION OZ..

JUNE 4/ WITH SILVER UP 33 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 578.387 MILLION OZ/

JUNE 3/WITH SILVER DOWN 71 CENTS TODAY//A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 1.714 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 578.387 MILLION OZ

JUNE 2/WITH SILVER UP  12 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 576.673 MILION OZ.

JUNE 1//WITH SILVER UP 10 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 576.673 MILLION OZ/

MAY 28/WITH SILVER UP 8 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 576.673 MILLION OZ/

MAY 27/WITH SILVER UP 3 CENTS TODAY//NO CHANGES IN SILVER INVENTORY AT THE SLV..INVENTORY RESTS AT 576.673 MILLION OZ.

MAY 26/WITH SILVER DOWN 15 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 576.673 MILLION OZ/

MAY 25/WITH SILVER UP 16 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A PAPER DEPOSIT OF 1.855 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 576.673 MILLION OZ/

MAY 24/WITH SILVER UP 25 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.855 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 574.818 MILLION OZ//

MAY 21.WITH SILVER DOWN 51 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.299 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 572.963 MILLION OZ/

MAY 20/WITH SILVER UP 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 571.664 MILLION OZ//

MAY 19/WITH SILVER DOWN 32 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 571.664 MILLION OZ/

MAY 18/WITH SILVER UP 09 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A MASSIVE DEPOSIT OF 7.884 MILLION OZ INTO THE SLV.//INVENTORY RESTS AT 571.664 MILLION OZ..

MAY 17 WITH SILVER UP 88 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//..INVENTORY RESTS AT 565.820 MILLION OZ

MAY 14 WITH SILVER UP 28 CENTS TODAY: A HUGE GAIN OF 1.949 MILLION OZ INTO THE SLV….INVENTORY RESTS AT 565.820 MILLION OZ

MAY 12/WITH SILVER DOWN 39 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A PAPER WITHDRAWAL OF 1.67 MILLION OZ /INVENTORY RESTS AT 563.871 MILLION OZ//

MAY  11/WITH SILVER UP 17 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.206 MILLION OZ DESPITE THE PRICE RISE//INVENTORY RESTS AT 565.541 MILLION OZ//

MAY 10.WITH SILVER UP 2 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.81 MILLION OZ FORM THE SLV/INVENTORY RESTS AT 566.747 MILLION OZ//

MAY 7/WITH SILVER UP 2 CENTS TODAY: NO  CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 566.577 MILLION OZ

MAY 6/WITH SILVER UP 90 CENTS TODAY: TWO CHANGES IN SILVER INVENTORY AT THE SLV//:1. A WITHDRAWAL OF  FROM THE SLV RECORDED AT 2 PM AND THEN 2. A HUGE DEPOSIT OF 1.31 MILLION OZ INTO THE SLV RECORDED AT 5;20 PM.//INVENTORY RESTS AT 568.577 MILLION OZ//

MAY 5/WITH SILVER UP ONE CENT TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 567.481 MILLION OZ//

MAY 4/WITH SILVER DOWN 40 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 567.481 MILLION OZ//

MAY 3/WITH SILVER UP 99 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 567.481 MILLION OZ

APRIL 30//WITH SILVER DOWN 16 CENTS TODAY; No CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 567.481 MILLION OZ//

APRIL 29/WITH SILVER DOWN 2 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 567.481 MILLION OZ..

APRIL 28/WITH SILVER DOWN 31 CENTS TODAY:: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.206 MILLION OZ FORM THE SLV////INVENTORY RESTS AT 567.481 MILLION OZ//

APRIL 27./WITH SILVER UP 20 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 568.687 MILLION OZ//

APRIL 26/  WITH SILVER UP 10 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.260 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 568.687

APRIL 23/WITH SILVER DOWN 10 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 278,000 OZ INTO THE SLV.///INVENTORY RESTS AT 569.847 MLLION OZ/

APRIL 22/WITH SILVER DOWN 34 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A MASSIVE WITHDRAWAL OF 3.619 MILLION OZ//INVENTORY REST AT 569.569 MILLION OZ..

APRIL 21/WITH SILVER UP 72 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 573.188 MILLION OZ//

APRIL 20/WITH SILVER UP 1 CENT TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.114 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 573.188 MILLION OZ.

XXXXXXXXXXXXXX

SLV INVENTORY RESTS TONIGHT AT

JUNE 8/2021
577,228 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Peter Schiff

 

OR

EGON VON GREYERZ//MATHEW PEIPENBURG

 

OR

END

OR LAWRIE WILLIAMS

 
PAM AND RUSS MARTENS
 
 

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

Craig Hemke at Sprott Money: Hints that Basel 3 is curtailing Comex gold shorting

 

 

 Section: Daily Dispatches

 

9:54p ET Tuesday, June 8, 2021

Dear Friend of GATA and Gold:

The TF Metals Report’s Craig Hemke reports tonight at Sprott Money that “Basel 3” Net Stable Funding Ratio regulations appear staged for implementation by banking regulators in the United States on July 1 and that the banks trading gold futures on the New York Commodities Exchange appear to be steadily closing their short positions.

Hemke’s analysis is headlined “Basel 3 and Comex Gold” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/Basel-3-and-COMEX-Gold-Craig-Hemke-June-08-2021

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

END

Super commentary from Craig Hemke on the new Basel iii

rules.  He outlines that bullion banks are slowly getting rid of their short positions

Basel III and COMEX Gold

(courtesy Craig Hemke/Sprott Money)

Gold bar stack

If you’re a gold investor, then you’ve likely read of the NSFR of Basel III, which are due to be implemented by the EU-based Banks at the end of this month. Well, here’s something else to consider.

First of all, these new capital requirements were first introduced as part of Basel III in 2014, and it has taken nearly seven years for them to be instituted. As of June 28, the EU-based Banks will be subject to these new rules, and the UK Banks must fall in line by January 1, 2022. This, of course, is causing all sorts of chagrin and teeth-gnashing in London. The LBMA and their pals at the World Gold Council put out this final plea for help last month: LBMA Responds to Prudential Regulation Authority Consultation 

Regardless of what may happen in January, the move to impose these new restrictions upon the EU-based Banks now appears to be a fait accompli for three weeks from now. Will this have any impact upon the gold price in the weeks ahead? Maybe. No one knows for certain. At TF Metals Report, we’ve tried to get some diverse opinions on the subject. Here are two recent public podcast links. The first is with Alasdair Macleod, and the second is with Tom Luongo:

But now here’s perhaps the most relevant question. What effect, if any, will these changes have upon the Banks that operate in New York on the COMEX? Will any of the U.S. Banks be impacted by these new Basel III restrictions, and if so, when?

Not knowing this answer, I was perplexed. However, late last week, a TFMR member sent me the link below. Could it hold the key to the U.S. Bank reaction to Basel III? I reached out to several experts, and the answer appears to be YES. But don’t just believe me and a few of my friends like Alasdair. Click the link below and read it for yourself.

 

OK, so if this is the case and the U.S. Banks are also going to have to change the way they do “bullion banking” business next month, would there be any way to check to see if they are doing any prep work ahead of the July 1 deadline?

Maybe there is.

You’ve likely heard of the CFTC’s Commitment of Traders report. This report is surveyed at the COMEX close each Tuesday and is then released 74 hours later on Friday at 3:30 pm Eastern time. However, you may not be familiar with the Bank Participation Report. This report is surveyed from that same CoT data, but it’s only compiled and published on the first Friday of every month.

What this report attempts to show is the combined aggregate positions of the major Banks that have operations on the COMEX. You can read about the report by clicking this link to the CFTC website, and you can also see the screenshot below: Bank Participation Report 

Generally, the report summarizes the positions of 4-5 major U.S. Banks (think JPM, MS, Citi, Goldman and BofA) and the 20-25 major non-U. S. Banks (think HSBC, UBS, Credit Suisse, Barclays, DB, BNP, etc.). 

In my experience of monitoring the changes to this report over the past decade, I can tell you that it never shows The Banks to be NET long. Instead, The Banks are ALWAYS NET short. In my records, the largest NET SHORT position of the Banks was 225,111 COMEX gold contracts on 1/7/20. This was followed by 213,746 COMEX gold contracts on 9/5/17 and a lengthy list of reports routinely showing net short positions near 200,000 contracts.

Only twice have these reports shown a small net short position for The Banks. The lowest I can find were at the price lows of late 2015, when the combined net short position was just 30,757 contracts, and again in late 2018 with price near $1200, when The Banks were net short only 23,694 contracts.

So, fast forward to today. Prices have soared in the renewed bull market that began in late 2018 and only once has the combined 25 Bank NET short position been under 100,000 contracts since, and that was on May 7, 2019, and with price still at $1286. Otherwise, The Banks have consistently maintained a NET short position that averaged well in excess of 150,000 COMEX gold contracts.

Until recently.

Again, what we’re curious about here is the pending impact, if any, of the Basel III and U.S. OCC restrictions that appear due to come on-line beginning July 1. Could this be revealed by looking back to previous Bank Participation Reports and comparing them to present day? Maybe. So let’s do it.

What you see below are changes to the U.S. Bank component of the BPR over the past two years. I could go back further, but all you’d see is a U.S. Bank side that routinely shows an average of 10,000 gross long and about 100,000 gross short each month. You can see this in the first three months listed on the summary below. However, take a look at what has happened over just the past three months:

This begs the question…Are the U.S. Banks actively covering their GROSS COMEX short position in order to bring it down to NET neutral by the July 1 OCC deadline? 

But we must also consider that the disaggregated Commitment of Traders report still shows a heavily NET short “swap dealer” and “commercial hedger” category. See below:

So maybe what we see is this…Could it be that The Bullion Bank semi-legitimate hedging positions are shown on the disaggregated CoT, but their greedy prop desk trading positions are revealed via the BPR? And now are those prop desk trading positions being closed out due to the pending July 1 OCC deadline?

This is all speculation, of course, because these “markets” and their “regulators” are purposefully designed to be opaque and to keep us guessing. Otherwise, why wouldn’t the CoTs be released in 2 hours instead of 74? And why wouldn’t the BPR be more specific and state the names of the banks along with the positions? But that’s a topic for another day, I suppose.

In the meantime, we’ll anxiously await next month’s Bank Participation Report to see what it reveals about the combined U.S. Bank position. Will it continue to trend toward equal parts gross long and gross short as the OCC rules go into effect? We’ll let you know. In the meantime, ANYTHING and ANY REGULATION that restricts or removes the Bullion Bank’s monopolistic influence on the current pricing scheme should be considered a major improvement and a cause for hope in our fight for a free and fair system of true price discovery.

end

Interesting:  Paris and Berlin are leading a fight to dilute the EU0s stricter bank capital rules (Basel III)

(LONDON’S FINANCIAL TIMES/GATA)

Paris and Berlin lead fight to dilute EU’s stricter bank capital rules

 

 

 Section: Daily Dispatches

 

By Sam Fleming and Martin Arnold
Financial Times, London
Tuesday, June 8, 2021

Several European Union states are fighting a last-ditch battle to thin down the bloc’s most significant change in banking regulation for a decade, as Brussels prepares to set out long-awaited legislation.

The proposed rules will introduce a new capital minimum, or floor, making it harder for banks to use their own internal calculations to decide the size of their capital base. 

The European Commission is expected to propose the rules — part of the international Basel III banking reforms — in September or October

But capitals led by Paris, Berlin, Copenhagen, and Luxembourg are trying to persuade the commission to moderate the minimum level imposed, according to those involved in the discussions. 

The way the international standards have been drawn up threatens to penalize EU banks, they argue. …

… For the remainder of the report:

https://www.ft.com/content/0122b5c4-1cd2-4c17-aaee-590f10205543

end

 

Other gold/silver related stories

My goodness: the coveted 1933 double eagle sold for $19.51 million up from 7 million dollars

The saga on the 1933 double eagle

(zerohedge)

“Coveted” 1933 Double Eagle Gold Coin Sells For Record $19.51 Million At Sotheby’s Auction

 
TUESDAY, JUN 08, 2021 – 05:45 PM

An extremely rare, uncirculated 1933 Double Eagle gold coin sold for a record $19.51 million at Sothbeby’s auction in New York on Tuesday.

1933 Double Eagle via Sotheby’s

Sotheby’s described the $20 coin designed by American sculptor Augustus Saint Gaudens as the last US gold coin ever made and intended for circulation, making it “one of the most coveted coins in the world.” The $19.51 million sale price blew past pre-sale estimates of between $10 and $15 million, breaking the record for the most expensive coin in the world which was previously set by a 1794 Flowing Hair silver dollar that went for $10 million in 2013, according to AFP.

 

1974 Flowing Hair silver dollar

The Double Eagle, which was never issued after US President Franklin D. Roosevelt took the United States off the gold standard in place since the 1830s, and issued Executive Order 6102 forbidding “the hoarding of gold coin, gold bullion, and gold certificates.”

More from AFP on the history of the coin:

The Double Eagle has an image of Lady Liberty on one side and an American eagle on the other. 

The 1933 Double Eagles were the last American gold coins intended for circulation by the United States Mint but were never legally issued for use.

That year, President Roosevelt removed the United States from the gold standard in an effort to lift America’s battered economy out of the Great Depression.

All of the coins were ordered to be destroyed, apart from two which were given to the Smithsonian Institution.

However, in 1937, several of the coins appeared on the market, sparking a Secret Service investigation in 1944 that ruled that the coins had been stolen from the US government and were illegal to own.

Prior to the probe, one of the coins was purchased and mistakenly granted an export license, Sotheby’s said in its notes.

It ended up in the coin collection of King Farouk of Egypt. When Sotheby’s tried to auction the Double Eagle in 1954, the US Treasury successfully had it withdrawn.

The coin’s whereabouts were then unknown until 1996 when it was seized during a Secret Service sting at the Waldorf-Astoria in New York.

A five-year legal tussle ensued and it was decided that the coin could be privately owned-AFP

Meanwhile, other Double Eagles which have surfaced have been ruled the property of the United States in various cases – including by the Supreme Court, making the coin bought on Tuesday the only 1933 Double Eagle allowed to be legally sold. It last changed hands in 2002 when designer Stuart Weitzman bought it for $7.59 million.

Fun fact; $20 invested in the Dow in 1933 would be worth $7,055 today.

end

The Socialist, Castillo is slightly ahead in the voting. Castillo wants to nationalize all the mines.  This of course would be very deadly to many mining interests.

(zerohedge)

Socialist Candidate Who Vows To Nationalize Mineral Resources Pulls Ahead In Peru Presidential Election

 
 
:25 PM

In a continuing trend in Latin American politics of Left-wing political movements on the ascendancy which has seen successful attempts to roll back free market friendly policies in favor of “starting from scratch” toward erecting more interventionist socialist states, the next political and electoral earthquake is set to hit Peru, where socialist candidate Pedro Castillo is maintaining a narrow lead over right-wing rival Keiko Fujimori as votes are still being counted and increasingly contested from Sunday’s run-off election.

As of early Tuesday it’s still being deemed “too close to call”, but with Castillo pulling away Fujimori is now alleging election “irregularities”. Son of peasant famers and an outspoken union leader, Castillo has “vowed to nationalize Peru’s vast mineral resources, to expel foreigners who commit crimes in the country, and to move towards reinstating the death penalty,” according to one profile.

 

AFP via Getty Images: Pedro Castillo, center, with his family

While widely seen as far left, he doesn’t exactly fit standard partisan molds given he’s also been described as a Marxist socialist who rejects Communism, works with right-wing populists on labor rights and pension benefits, and is opposed to same-sex marriage, abortion & “gender ideology.”

Well over 95% of the vote has been counted, but it remains that remote rural areas are continuing to be tallied, and this is expected to favor Castillo; however, there are expectations of a prolonged contested outcome which could lead to further political instability after a years-long crisis in government. 

The Guardian this week quoted one voter who summarized what’s at issue for many on the right, who fear Castillo government would only emulate failed policies elsewhere in the region

Roxana Araníbal Fernandez, 56, an insurance company worker, who voted for Fujimori in the middle-class Miraflores neighborhood in Lima, said: “We want the country to keep progressing. We don’t want to copy models which we have seen don’t work from Venezuela or Cuba.”

But the legacy of Fujimori’s father – who is serving a 25-year sentence over corruption and death squad murders – and her own record as a politician play against her.

Responding to such widespread accusations, during a recent stump speech Castillo sought to assure,  “We have just sat down and clarified that we are not communists, we are not Chavistas, we are not terrorists. We are workers like any of you; we have met in the streets; within that framework, we ask you for tranquility,” he expressed.

Some of the headlines are capturing a general sense of “panic” among Peru’s wealthy and elite class amid fears that a Castillo victory could lead to capital flight from Lima…

Meanwhile Reuters noted that Peru’s sol has continued plummeting to new lows, falling another 1% Tuesday after plunging 2.5% on Monday.

end

CRYPTOCURRENCIES/
Central bankers will not like this at all: El Salvador passes a bill to make Bitcoin legal tender
(zerohedge)
 

“It Won’t Be The Last” – El Salvador Passes Bill To Make Bitcoin Legal Tender

 
WEDNESDAY, JUN 09, 2021 – 08:55 AM

After a tempestuous day where once again the death of crypto was heralded by many, this morning has seen buyers return amid an upsized MSTR bond deal (amid very heavy demand) and El Salvador passing a bill (which we previewed here) to become the first nation to make bitcoin legal tender.

The president of El Salvador’s bill to make Bitcoin legal tender in El Salvador passed congress with a supermajority just before 6 am UTC.

As CoinTelegraph’s Brian Quarmby reports, in a Twitter Spaces conversation that began just after 5 am UTC with 22,000 listeners, President Nayib Bukele said he would sign off on the historic law later tonight or first thing tomorrow.

“It goes into effect immediately,” he said, clarifying the government would allow 90 days for the infrastructure to be put into place.

He said that accepting Bitcoin would be mandatory for all businesses.

“They have to take it by law,” he said of merchants in the country.

“If you go to Mexico they have to take your pesos.”

“In the case of El Salvador Bitcoin is going to be legal tender just as the US Dollar.”

He revealed that he will be meeting with the International Monetary Fund on Thursday.

The government will also be releasing an official Bitcoin wallet (however, this will not be mandatory).

The government intends to hold $150 million equivalent of Bitcoin in a trust fund in its development bank to assume the risks of merchants.

Permanent residency will be available for those who invest 3 BTC in El Salvador.

And while El Salvador is the first country to adopt Bitcoin as official legal tender, it will not be the last, affirms the CEO of one of the world’s leading financial advisory and fintech organisations.

Nigel Green, chief executive and founder of deVere Group, notes: “El Salvador has become the first country to adopt Bitcoin as official legal tender – but it will not be the last. 

“Some larger, more powerful countries are trying to quash or slow the inevitable shift to borderless, global, digital currencies.

“But this small Central American nation has embraced the biggest one of them all – Bitcoin – and recognised it as official legal tender. 

“El Salvador has made history and become a true pioneer of the digital age.”

He continues: “Where El Salvador has led, we can expect other developing countries to follow.

“This is because low-income countries have long suffered because their currencies are weak and extremely vulnerable to market changes and that triggers rampant inflation.

“This is why most developing countries become reliant upon major ‘first-world’ currencies, such as the U.S. dollar, to complete transactions. 

“But reliance on another country’s currency also comes with its own set of, often very costly, problems.”

A stronger U.S. dollar, for example, will weigh on emerging-market economic prospects, since developing countries have taken on so much dollar-denominated debt in the past decades.

The deVere CEO goes on to say:

“By adopting a сryptocurrency as legal tender these countries then immediately have a currency that isn’t influenced by market conditions within their own economy, nor directly from just one other country’s economy. 

“Bitcoin operates on a global scale and is, as such, largely impacted by wider, global economic changes.”

In addition, cryptocurrencies could also help bolster financial inclusion for individuals and businesses in developing countries as they can circumnavigate the biases of traditional banks and other financial services providers.

Mr Green concludes:

There will no doubt be critics – probably those based in wealthy countries – who will knock this bold move by El Salvador. 

“But I believe we should welcome the forward-thinking approach to solving complex issues.”

And having bounced off $31,000, Bitcoin is now back above $35,000 – having erased all of yesterday’s losses…

Source: Bloomberg

Ethereum is rallying but notably less than bitcoin…

Source: Bloomberg

The other positive catalyst was a significantly upsized MSTR bond deal ($500 million) which will be used to acquire more bitcoin…

Most importantly, and perhaps reflecting on the institutional interest in ‘buying the dip’, is the fact that MSTR saw $1.6 billion in offers for the deal.

Finally, we note that amid all the talk of regulatory crackdowns, the SEC’s Hester Pierce has once again urged regulators to take a step back from attempting to overregulate the crypto space.

Speaking to Financial Times, Peirce, affectionately dubbed “Crypto Mom” due to her positive stance on cryptocurrencies, argued against the need for strict regulatory policies.

According to Peirce, regulators by nature often have a knee-jerk reaction to emerging market spaces, often at the expense of innovation.

The SEC commissioner warned that pursuing stricter regulatory policies eliminates the ability of market participants to carry out peer-to-peer transactions. Rather than emphasizing government regulations, Peirce advocates for industry-led regulatory activities.

-END-

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

i) Chinese yuan vs USA dollar/CLOSED DOWN at 6.3860 /

//OFFSHORE YUAN:  6.3869   /shanghai bourse CLOSED UP 11.29 PTS OR 0.32% 

HANG SANG CLOSED DOWN 38,75 PTS OR 0.13%  

2. Nikkei closed DOWN 102.76 PTS OR 0.35%

3. Europe stocks  ALL RED

 

USA dollar index  UP DOWN 89.99/Euro FALLS TO 1.2192

3b Japan 10 year bond yield: FALLS TO. +.071/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 109.39/ 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 ABOVE 17,000

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

3e WTI:: 70.38 and Brent: 72.58

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.252%/Italian 10 Yr bond yield DOWN to 0.82% /SPAIN 10 YR BOND YIELD DOWN TO 0.39%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.07: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.84

3k Gold at $1888.75 silver at: 27.64   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble  UP 14/100 in roubles/dollar) 72.13

3m oil into the 70 dollar handle for WTI and 72 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 109.39 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this morning .8953 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0914 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 0.252%

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 1.499% early this morning. Thirty year rate at 2.175%

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

6.  TURKISH LIRA:  DOWN  TO 8.58.. DEADLY

Futures Flat As Meme Stonks Rage, 10Y Yields Tumble

 
WEDNESDAY, JUN 09, 2021 – 08:00 AM

S&P futures traded in a narrow 8 point range near all-time highs as a lack of clear catalysts kept trading slow, with investors awaiting fresh cues from inflation data this week and an upcoming Federal Reserve meeting. 10Y TSY yields dropped below 1.50% for the first time since May 7 amid a plunge in odds that Biden’s reflationary infrastructure program will pass, and easing fears that tomorrow’s CPI print will smook markets. At 07:15 a.m. ET, S&P 500 E-minis were up 3.25 points, or 0.08%, Dow E-minis were down 37 points, or 0.1%, while Nasdaq 100 E-minis were up 40 points, or 0.29%. The dollar dropped against all of its G10 peers.

 

On Tuesday, U.S. stocks closed within a hair’s breadth of a record high and Treasuries rose as investors debated the impact of resurgent inflation on monetary policy. “Investors are likely to be in a wait-and-see mode,” said Mitsushige Akino, a senior executive officer at Ichiyoshi Asset Management. “People will want to check how market expectations over the Fed’s policies change and how yields, whose upside has been capped recently, move following the U.S. CPI data.”

Despite broadly muted overnight trading, meme stocks ContextLogic and Clover Health had double-digit gains in premarket trading, extending a huge jump on Tuesday after a discussion of a potential short squeeze. Chamath’s Clover Health has emerged as the new social media favorite, surging 17% in premarket trade after jumping 85% to a record high on Tuesday. Meanwhile, the original meme stonk, GameStop, rose 2.4% ahead of its quarterly results, due after the bell while AMC dropped 5%. Here are some of the biggest U.S. movers today:

  • Cryptocurrency-exposed companies like Marathon Digital (MARA) and Riot Blockchain (RIOT) rise as Bitcoin recovers ground following recent pressure on the token.
  • Ondas Holdings (ONDS) declines 15% in premarket trading after the company announced on Tuesday an offering of 6.4m shares at $7 each.
  • The latest additions to the meme-stock frenzy like Clover Health, ContextLogic Inc. and Wendy’s rally in premarket trading as retail traders latched on to their latest favorites.
  • UiPath (PATH) shares fall 6.4% in premarket trading despite reporting 1Q results that beat estimates, with its 2Q revenue forecast also exceeding expectations. Growth expectations had already been priced in, according to analysts.

Overnight, China spooked some markets after it reported a higher than expected PPI print which at 9.0% was the highest since the month Lehman collapsed. The surge in producer prices which China’s companies have failed to pass on, forced Beijing to roll out price controls which are sure to make the global shortage and supply-chain squeeze even worse.

Investor focus remains locked on Thursday’s release of U.S. consumer price data and a European Central Bank meeting for further clues about how soon policymakers may begin to withdraw support for Europe’s economy rolled out following the COVID-19 crisis. The Fed’s meeting next week is also expected to shed more light on the bank’s policy tapering plans. While inflation has surged in recent months, a sluggish labor market is broadly expected to keep the bank dovish.

Meanwhile, Tuesday’s JOLTs report suggested that American companies are struggling to find enough workers, according to Michael Hewson, chief market analyst at CMC Markets in London. “Employers may well have to hike salaries quite substantially,” he said. “This in turn could have significant consequences for inflation expectations, which are already elevated, especially if U.S. CPI comes in anywhere near 5%.” 

“As the recovery in the job market is contained, any discussion at the Fed on tapering is unlikely to gain momentum, even if it starts soon,” said Naokazu Koshimizu, senior rates strategist at Nomura Securities. “So those who had bet on steepening of the yield curve are unwinding their positions while some investors are also now buying to earn carry.”

MSCI’s all-country world index last stood at 716.42, after hitting an intraday high of 718.19 on Tuesday, led by gains in Europe.

In Europe, the Stoxx 600 Index retreated 0.1%, the Eurostoxx 50 slipped as much as 0.3%, as FTSE 100 and FTSE MIB underperformed peers. Declines among basic resources companies, insurers and banks outweighed gains for travel and leisure, health care and real-estate industries. Norwegian salmon producer Salmar slipped from an all-time high, falling 8.6% after its private placement of shares was priced below the market level.  Here are some of the biggest European movers today:

  • European airlines gain after the U.S. eased its travel warnings for dozens of countries, including France and Germany. Duty-free retailer Dufry gained as much as 6.7% as part of the rally in travel-exposed stocks.
  • Smith & Nephew shares rise as much as 4.6% after Credit Suisse upgraded the medical-equipment company to outperform, saying the market is not appreciating its attractions as a short-term play on elective surgery volumes recovering.
  • Clinigen shares plunge as much as 26% after the pharmaceutical services firm issued new guidance that RBC said was below consensus, driven by Covid-related weakness in oncology procedures.
  • Heidelberger Druckmaschinen shares slump as much as 16% after the machinery company’s new guidance, which Baader says looks cautious.
  • AB Science shares slumped as much as 32% in Paris after the French drug developer’s shares resumed trading following its decision to halt trials of its key experimental drug.
  • Voestalpine shares fall as much as 3.1% with analysts saying the company’s earnings momentum may lag its peers in the steel sector.

In Asia, the MSCI’s broadest index of Asia-Pacific shares outside Japan ticked down 0.3% and Japan’s Nikkei average shed 0.4%. Asian equities slipped for a second day, weighed down by losses in technology shares, as investors monitored inflation data for signals on potential central bank actions. TSMC and Sony were the biggest drags on the MSCI Asia Pacific Index. The regional benchmark slipped 0.4%, on track for its largest decline in three weeks. Financial stocks also contributed to the loss, as U.S. Treasury yields declined. Chinese stocks edged higher after the nation’s producer prices rose more than expected, but consumer prices increased less than expected in May. Global investors anxiously awaited Thursday’s U.S. consumer-price data for clues on how long the Federal Reserve can postpone a tapering of stimulus.

The Asian stock market has been stuck in “range trade with the whole planet, seemingly treading water for the U.S. inflation data tomorrow night,” Oanda market analyst Jeffrey Halley wrote in a note. “Except for China, regional investors appear to be once again reducing exposure ahead of the inflation data.” Key equity gauges fell in South Korea, Taiwan, India and Japan. Most Southeast Asian markets rose, with the Philippine and Vietnamese benchmarks rising at least 1%.

Japanese stocks fell as investors also remained focused on Thursday’s report on U.S. consumer prices, which may affect perceptions of when the Federal Reserve is likely to start discussing tapering asset purchases. The Topix fell 0.3% to 1,957.14 in Tokyo. The move was the biggest since falling 1.3% on May 31 and follows the previous session’s increase of 0.1%. The Nikkei 225 closed at 28,860.80, down 0.4%. Sony Group contributed the most to the Topix’s decline, decreasing 2.2%. Airlines and restaurant companies gained after the U.S. State Department loosened its travel warnings for dozens of nations including Japan, spurring optimism that the pandemic is gradually being brought under control. ANA Holdings rose 3.4% and Japan Airlines advanced 3.1%, while Skylark Holdings added 5.2% and Royal Holdings climbed 4.3%. U.S. stock index futures were little changed during Asia trading.

Treasury gained, with the 10Y yield dropping below 1.50% for the first time since May 7 ahead of today’s 10Y auction. Treasuries were richer by nearly 3bp across long-end of the curve, flattening 2s10s, 5s30s by ~2bp and ~1bp on the day; 10-year yields around 1.495%, outperforming bunds and gilts by 1bp and 1.5bp Treasuries extended a bull-flattening move, helped by a long-end futures block buyer in early European session. Trend may ease with 10-year note and 30-year bond auctions over next two sessions, starting with $38b 10-year reopening at 1pm ET Wednesday.

Japanese bonds were led higher by longer maturities, with 10-year yields falling to the lowest level in six weeks. Australia’s bond yields fell for a third day as futures’ roll positioning dominated ahead of U.S. CPI data; European yields also fell, led by Italy. European bonds rally, supported by several block trades.

Germany’s 10-year Bund yield extended Tuesday’s drop to fall to -0.240%, the lowest since May 7 as euro area investors continued to price in a dovish outcome to the ECB policy meeting on Thursday. German curve bull steepens, Italy outperforms peers with 10y yield back to the lowest since April. Gilts and Treasuries bull flatten. With European bond markets calm, Greece followed Italy with a bond sale, opening books on Wednesday for a 10-year issue.

In FX, the greenback weakened against all of its nine G-10 peers while the Bloomberg Dollar Spot Index inched lower in muted trading; the J.P. Morgan Global FX Volatility Index extended its slide to the lowest since February last year. The pound rose as Bank of England Chief Economist Andy Haldane said the economy is going “gangbusters” and the central bank may need to start turning off the monetary policy tap; focus is turning to a meeting between the U.K. and European Union on the Northern Ireland protocol later on Wednesday. The yen traded in a narrow range against the dollar. The Chinese yuan, whose rally to a three-year high last week was propelled in part by speculation Beijing may want a stronger yuan to tame inflationary pressure, ticked up slightly to 6.3945 per dollar.

Deutsche Bank’s Currency Volatility Index hit its lowest level since February 2020 on Tuesday, and sank even further on Wednesday.

In commodities, oil prices held firm after U.S. Secretary of State Antony Blinken said that even if the United States were to reach a nuclear deal with Iran, hundreds of U.S. sanctions on Tehran would remain in place. U.S. crude futures closed above $70 per barrel for the first time since Oct 2018 on Tuesday and last stood at $70.40, up 0.5%. Brent futures rose 0.5% to $72.56, having earlier touched their highest since May 20, 2019. Bitcoin added 3%, trading above $34,500.

Looking ahead, Thursday’s U.S. consumer price data is expected to show the overall annual inflation rate rose to 4.7% and core inflation increased to 3.4%. While those readings will be well above the Fed’s inflation target of 2%, many economists expect the inflation rate to ease in coming months, allowing the Fed to wait before taking any tapering measures.

Yet some investors remain wary. “Nothing that we see in tomorrow’s report can prove or disprove any of the theories around the future path for inflation but I suspect that the market isn’t entirely believing of the Fed’s on-hold forever message,” said James Athey, investment director at Aberdeen Standard Investments. “I therefore see potential for a higher print to push real yields and shorter dated yields higher thus flattening the curve and boosting the dollar. This might not be a great environment for risky assets.”

To the day ahead now, and the highlights include a monetary policy decision from the Bank of Canada. Otherwise, data releases include the German trade balance for April, and the final reading of April’s wholesale inventories in the US.

Market Snapshot

  • S&P 500 futures little changed at 4,227.00
  • STOXX Europe 600 down 0.23% at 452.96
  • MXAP down 0.4% to 209.13
  • MXAPJ down 0.4% to 700.66
  • Nikkei down 0.4% to 28,860.80
  • Topix down 0.3% to 1,957.14
  • Hang Seng Index down 0.1% to 28,742.63
  • Shanghai Composite up 0.3% to 3,591.40
  • Sensex down 0.4% to 52,062.35
  • Australia S&P/ASX 200 down 0.3% to 7,270.20
  • Kospi down 1.0% to 3,216.18
  • Brent Futures up 0.25% to $72.40/bbl
  • Gold spot down 0.24% to $1,888.29
  • U.S. Dollar Index little changed at 90.02
  • German 10Y yield fell 1.2 bps to -0.236%
  • Euro up 0.1% to $1.2186

Top Overnight News from Bloomberg

  • Global bond traders appear to be readying for a slow summer regardless of how this week’s key U.S. inflation data comes in, as markets show a willingness to look through short-term releases
  • China’s efforts to control raw materials costs could include price limits on its runaway coal market, underscoring the government’s tough stance on taming inflation
  • Surging costs of imported commodities drove China’s factory-gate inflation to its highest level since 2008, raising the odds that exporters will begin passing on higher prices and boost inflationary pressures in the global economy
  • The European Parliament approved the introduction of mutually recognizable certificates that will allow quarantine- free travel within the blocSoon after Nomura Holdings Inc. got burned on the collapse of Archegos Capital Management, its executives vowed to revamp its prime brokerage. Insiders and hedge funds are starting to grasp what that means for those operations in the U.S. and Europe: There won’t be much left
  • Russian Foreign Minister Sergei Lavrov said his country doesn’t have “excessive expectations or illusions” about a possible breakthrough at the upcoming summit between President Vladimir Putin and U.S. counterpart Joe Biden
  • Hungary’s inflation rate stayed outside of the central bank’s tolerance range for a second month, reinforcing policy makers’ plan to be among the first in the bloc to tighten monetary policy this year

Quick look at global markets courtesy of Newsquawk

Asian equities traded mixed with price action confined to within relatively tight ranges as the tentative mood in global markets persisted heading closer to this week’s risk events, with sentiment also clouded by lingering China-related frictions and following a breakdown of US infrastructure talks. ASX 200 (-0.2%) lacked conviction with upside in mining names and tech offset by underperformance in consumer staples and financials. In addition, Consumer Confidence data in Australia continued to dwindle and the confirmation that Melbourne lockdown measures will be eased on Thursday evening did little to spur the index. Nikkei 225 (-0.3%) was subdued after meeting resistance just shy of the 29k level although downside was limited and participants continued to await the reopen of Eisai shares which remained untraded for a 2nd consecutive day amid heavy buy order, while the KOSPI (-0.2%) remained uninspired despite the upward revisions to South Korea’s final Q1 GDP data. Hang Seng (Unch.) and Shanghai Comp. (+0.4%) were indecisive after mixed Chinese inflation data in which CPI missed forecasts, but PPI continued to surge and registered the fastest pace of increase in factory gate prices since 2008. Risk appetite for the region was also hampered by ongoing frictions after the US Senate voted to pass the sweeping China competition bill and with the US to launch a “strike force” targeting trade abuses including from China, while the US Commerce Department was reportedly considering a Section 232 investigation on the national security impact of neodymium magnets which are largely imported from China. Finally, 10yr JGBs marginally extended on yesterday’s advances which were in tandem with the global bond rally, to test resistance at 151.50 and with upside helped by the BoJ’s presence in the market for more than JPY 1.4tln of JGBs heavily concentrated in 1yr-10yr maturities.

Top Asian News

  • China Investigates Bad-Debt Industry Veteran for Corruption
  • Huarong, Evergrande Bond Slump Tests Too-Big-to-Fail Belief
  • Online Broker Webull Is Said to Consider $400 Million U.S. IPO
  • Day Traders in Duel With Short-Sellers Over Korea Meme Stock

Another mixed and directionless session thus far in Europe (Euro Stoxx 50 -0.1%) as the tentative tone reverberated from APAC, with catalysts light and powder kept dry ahead of tomorrow’s ECB and US CPI. US equity futures are similarly contained around the flat mark. Sectors in Europe vary with no overarching theme nor bias. Basic Resources underperform amid jitters seen across base metals following the firm Chinese PPI print and subsequent jawboning from the Chinese government. The banking sector also lags and financials are dented by the slide in yields. Meanwhile, Travel & Leisure resides at the top of the pile as the EU parliament approves the COVID-19 Vaccine Passport legislation. Healthcare outperforms amid gains across some heavyweights including Roche (+1.3%), Novartis (+0.6%), and AstraZeneca (+0.9%), whilst Smith & Nephew (+3%) is supported by a positive broker move at Credit Suisse. In terms of individual movers, Aviva (-1.8%) is lower following reports that new investor Cevian Capital is pushing for a seat at the board alongside the return to shareholders GBP 5bln in excess capital it gained from selling eight non-core businesses. Stellantis (-0.8%) meanwhile is pressured as the Co’s Brazilian plant has reached a “production ceiling” below pre-pandemic levels due to the chip shortage – an issue experienced across the global Auto sector.

Top European News

  • Ferrari Hires Little-Known Tech Leader Vigna to Be New CEO
  • VW Battery Maker Northvolt Raises $2.75 Billion in Financing
  • U.K., EU Hold Brexit Talks as Sausage Spat Spills Into G-7
  • British Airways, Ryanair Face U.K. Probe Over Denied Refunds

In FX, the main movers of the morning and both on the back of hawkish rhetoric from their respective central banks. Cable gained impetus as outgoing Chief economist Haldane sang from his hawkish hymn sheet – suggesting the BoE could start tightening the tap on QE and could ultimately start to turn QE around. The remarks bolstered GBP/USD to a 1.4181 high (vs 1.4148 intraday base) with the pair now probing 1.4200 at the time of writing. However, it is worth bearing in mind that Haldane has recently been the hawkish outlier and is set to leave the MPC after the June 24th meeting. The focus is on whether any remaining MPC members come round to his viewpoint – which does not seem evident yet. Similarly, the Forint was spurred by central banker Virag noting it’s time to normalise policy and that ultraloose policy will end. EUR/HUF dipped below 347.50 from its 348.30 high.

  • DXY – A combination of a slide in yields and persisting Sterling strength has pressured the Dollar index back below its 21 DMA (90.083) and under the 90.00 mark from its 90.139 best – with another empty State-side docket until the 10yr Note auction later today as the US 10yr cash yield threatened to breach 1.50% to the downside.
  • EUR, NZD, AUD, CAD, JPY – All experiencing broad-based gains (ex-JPY) as a function of the Buck. EUR/USD now eyes 1.2200 to the upside (vs low 1.2172), but with upside hampered by EUR/GBP holding sub-0.86 and with a host of sizeable OpEx for today’s NY cut, including EUR 2.2bln between 1.2135-55, EUR 1bln at strike 1.2165 and EUR 1.8bln between 1.2200-15. NZD/USD meanders near the 0.7200 mark whilst AUD/USD trades on either side of 0.7750 – both within narrow intraday parameters. The Loonie meanwhile resides around session lows amid tailwinds from the Greenback and crude prices after WTI futures topped USD 70/bbl for the first time since 2018 – and heading into the BoC policy announcement, which is expected to be a holding meeting and statement-only affair with a small risk of some allusion to a taper signal (full preview available in the Newsquawk Research Suite). USD/JPY meanwhile remains in a holding pattern around the 109.50 marks and the middle of a 20-pip range awaiting fresh catalysts.

In commodities, WTI and Brent front month futures hold onto a bulk of their recent gains with the former around the USD 70.50/bbl mark (vs low 69.95/bbl) and the latter inching towards USD 73/bbl (vs low 72.12/bbl) at the time of writing. Fresh catalysts have remained light throughout the European morning but yesterday saw the release of a somewhat mixed Private Inventory data whilst the EIA STEO incrementally revised lower its 2021 and 2022 demand growth forecast ahead of the OPEC’s and IEA’s takes due on Thursday and Friday respectively. Meanwhile, JCPOA talks seem to be hitting a bump with Iran stating that oil sanctions are not resolved in discussions whilst WSJ’s Norman suggested that the next round of Iranian nuclear talks are unlikely to start before Saturday – six days before Iran’s presidential elections. It’s also worth keeping in mind that Libya’s Waha output has fallen to 130k BPD vs full capacity of 350k BPD due to a pipeline leak. In terms of commentary, ING acknowledges the recent narrowing of the WTI/Brent spread with the discount at its narrowest since November 2020 – “A further narrowing in the spread could see crude oil exports from the US come under pressure”, the Dutch bank suggests. Elsewhere, spot gold and silver have been drifting lower unorthodox price action against the dip in the Buck and yields. The yellow metal remains sub- USD 1,900/oz heading into tomorrow’s CPI, although volatility in the yellow metal cannot be discounted as US participants enter the fray and take stock of the environment. Turning to base metals, LME copper pared overnight gains after briefly reclaiming USD 10k/t as high factory gate prices in China raised concerns of price curbs by the government. Subsequently, China’s State Planner said China will step up monitoring of commodity prices and commodity market supervision. Dalian iron ore futures gained around 5% with some citing supply woes as inventories at Chinese ports slumped to the lowest since February.

US Event Calendar

  • 7am: June MBA Mortgage Applications, prior -4.0%
  • 10am: April Wholesale Trade Sales MoM, prior 4.6%
  • 10am: April Wholesale Inventories MoM, est. 0.8%, prior 0.8%

Government

  • President Joe Biden is headed to the U.K., where he will give a speech. He is set to meet with Prime Minister Boris Johnson on Thursday.
  • The Senate Finance Committee is scheduled to vote on advancing nominees for the Treasury Department, including Nellie Liang for undersecretary for domestic finance and Lily Batchelder for assistant secretary for tax policy

DB’s Jim Reid concludes the overnight wrap

As the countdown clock ticks ever louder ahead of tomorrow’s blockbuster US CPI release, a further subsiding of inflation fears yesterday led to a major rally in sovereign bonds as global equities held steady around their all-time highs. By the close of trade, yields on 10yr US Treasuries had fallen -3.6bps to 1.533%, their lowest level in almost 3 months, with the move almost entirely driven by lower inflation breakevens (-3.0bps) rather than real rates (-0.5bps). Indeed, the 10yr breakeven closed at a 6-week low of 2.37% yesterday, so beneath where it was at the time of the last CPI release in April, in spite of the fact that report surprised strongly to the upside. It was much the same story in Europe too, with yields on 10yr bunds (-2.6bps), OATs (-3.1bps) and gilts (-3.6bps) moving lower.

Just ahead of tomorrow’s all important US CPI we have seen China’s May CPI and PPI overnight with the PPI printing as high as +9.0% yoy (vs. +8.5% yoy expected and +6.8% yoy last month) while the CPI came in below expectations at +1.3% yoy (vs. +1.6% yoy expected and +0.9% yoy last month). This suggests that so far there has been a limited pass through of increases in PPI to CPI but nonetheless the trajectory of PPI, which is now at the highest levels since September 2008, remains concerning. Also, before mid-2008 such high prints were seen only in the period before 1996. Dong Lijuan, an economist with the China’s statistics bureau, said in a statement that of the 9% year-on-year growth, base effects contributed 3 percentage points and new price hikes contributed 6 percentage points. So it’s hard to say it’s all transitory. As a consequence, China’s economic planning agency, the NDRC has issued a statement on price controls on its website. It said that Corn, wheat, edible oil, pork and vegetables are top items in China’s consumer price control list and added that China will also control commodities market and strengthen supervision. So there is obviously concern about these heavy pipeline price pressures.

We’ll have to wait and see what the state of play is after tomorrow’s release, but in contrast to China’s PPI, the continued easing of concerns over inflation helped global equities to remain around their record levels, with the S&P 500 posting only a marginal +0.02% increase, whilst the STOXX 600 rose +0.10% to a fresh record. The S&P 500 is now just over 5pts away from its record closing high after its smallest daily move in either direction in nearly 8 months and the 4th daily move of less than 0.1% in either direction in the last 7 sessions. The S&P has not moved 1% in either direction since May 20 – 13 sessions ago – which is the longest such period since a 69 session run from October 2019-January 2020.

Small-cap stocks outperformed, with the Russell 2000 up +1.06%. Earlier in the session, we had wondered if the outage of a number of important websites would be the catalyst to send stocks lower, but after a brief reaction from equity futures to the downside (S&P futures were down -0.5% from overnight highs), they swiftly bounced back again as the outage was fixed.

In terms of the details on that, the affected sites included multiple media outlets such as the FT and the New York Times, as well as the UK government’s website, Reddit and Amazon Web Services. The websites in question were offline for around an hour, and the issue was caused by Fastly, who are a content-delivery network based in Silicon Valley, who said that a configuration error was to blame. In a move that might surprise some, their share price was actually up +10.85% yesterday, but the broader implication of the outage is that questions will be raised as to how vulnerable a lot of our key infrastructure is. And this actually came on the same day that Punchbowl News reported that a ransomware attack had hit a tech vendor called iConstituent, which provides constituent outreach services to nearly 60 House offices on Capitol Hill. So a tail risk that we could well hear more about moving forward.

Asian markets are mostly trading lower outside of China’s bourses – the Shanghai Comp (+0.20%), CSI (+0.21%) and Shenzhen Comp (+0.38%) – which are up. The Nikkei (-0.32%), Hang Seng (-0.07%) and Kospi (-0.40%) are all down. Futures on the S&P and the Stoxx 50 are trading broadly flat. Meanwhile, commodity prices are trading firm with DCE iron ore futures up +5.31% and SHF rebar steel futures up +2.56%. Crude oil prices are also up c.+0.60% this morning. In other overnight news, the US Senate voted 68-32 in favour of a legislation to invest almost $250bn in bolstering US manufacturing and technology to meet the economic and strategic challenge from China.

Elsewhere, yesterday saw another slump in Bitcoin (-2.40% overnight), which fell over 10% yesterday to $31,036 at one point before bouncing back to recover half its losses to finish just above $33,600. That was the lowest closing level since January and is now around half of its all-time intraday high seen back in April of $64,870. The moves came as the IRS chief asked Congress for the authority to regulate crypto, with other assets including Litecoin (-4.22%) and Ethereum (-4.51%) both seeing similar price action. Meanwhile Coinbase, which first became public back in April, fell -4.66% to end the day at its lowest close yet and down -35.48% from its peak.

In the UK, there are still some concerning signs on the pandemic ahead of the important decision next week on whether to fully relax restrictions in England, as more than 6,000 daily cases were reported for the second time in the last 5 days. Cases are now up +61% over the last week, albeit still at comparatively low levels relative to the winter months. Dr Fauci cited the rapid rise of cases in the heavily-inoculated UK, driven by the India/delta variant, as a reason for continued vigilance as vaccination rates in the US continues to slow. Also in the US, the State Department eased travel restrictions to many European countries including France and Germany – dropping them from level 4 (“do not travel”) to 3 (“reconsider”). Meanwhile in Singapore, Covid-19 sequencing has shown that the delta variant first detected in India has become the major strain of the virus locally. And on the vaccines, the Pfizer study on children under 12 is moving from a Phase 1 study to the Phase 2/3 stage, which will see up to 4,500 children enrolled in multiple countries.

Yesterday’s data proved illuminating ahead of the inflation release tomorrow, as the number of job openings in the US rose to a record 9.286m in April, which just demonstrates the extent to which firms have struggled to hire recently. Furthermore, the quits rate rose to a record 2.7%, which shows the number of voluntary departures, so again a sign that worker bargaining power seems to be increasing and they’re feeling confident in their prospects. Staying on the inflation theme, the NFIB’s small business optimism index fell slightly to 99.6 (vs. 101.0 expected), but the proportion of firms reporting higher selling prices stood at 40%, which is the highest since April 1981.

Otherwise on the data front, the US trade deficit narrowed to $68.9bn in April (vs. $68.7bn expected). Meanwhile in Europe, German industrial production unexpectedly fell -1.0% in April (vs. +0.4% expected), and the German ZEW survey’s expectations measure fell to 79.8 (vs. 86.0 expected). Separately, we also saw the Q1 economic contraction in the Euro Area revised to show a smaller -0.3% decline (vs. -0.6% previously).

To the day ahead now, and the highlights include a monetary policy decision from the Bank of Canada. Otherwise, data releases include the German trade balance for April, and the final reading of April’s wholesale inventories in the US.

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 11.29 PTS OR 0.32%   //Hang Sang CLOSED DOWN 38.75 PTS OR 0.13%      /The Nikkei closed DOWN 102.76 pts or 0.35%  //Australia’s all ordinaires CLOSED DOWN 0.27%

/Chinese yuan (ONSHORE) closed UP AT 6.3860 /Oil UP TO 70,38 dollars per barrel for WTI and 72.58 for Brent. Stocks in Europe OPENED ALL RED  //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3860. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3869   : /ONSHORE YUAN TRADING ABOVE 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

NORTH KOREA//USA/SOUTH KOREA

 

END

b) REPORT ON JAPAN

JAPAN/CORONAVIRUS UPDATE.

 

END

3 C CHINA

 
 
 
CHINA
 
 
end
 

CHINA CORONAVIRUS UPDATE/GUANGZHOU//DELTA STRAIN (Indian STRAIN or South African)

 

end

TAIWAN/CORONAVIRUS UPDATE/TAIPEI

Now Taiwan and the capital of the semi conductor industry is whacked with the Delta strain of the Coronavirus

(zerohedge)

 
TUESDAY, JUN 08, 2021 – 02:45 AM

The past few weeks have seen Taiwan’s semiconductor industry hit by a variety of disasters that are creating more problems at a time when an international semiconductor shortage is creating problems around the world, including in the US, where a shortage of critical chips has hurt production of new vehicles. A worsening drought and rolling blackouts are also terrorizing the island.

Now, two more Taiwan tech suppliers have been hit by new clusters of COVID-19 cases, creating another disruption to production that’s threatening to have an outsize impact on the global supply chain. According to Nikkei, King Yuan Electronics Co suspended all domestic production on Friday, while chip packaging and testing supplier Greatek Electronics and networking gear provider Accton Technology have also reported clusters among employees that have impacted production.

Both Greatek and Accton have production sites near a King Yuan plant in Miaoli County which has confirmed at least 263 cases as of Sunday (219 involving foreign workers mainly from the Philippines. Around 30% of the company’s workers are migrants). Most of the cases have been linked to workplace outbreaks, with King Yuan workers accounting for half the infections. As a result, the company and local government officials are asking all foreign workers to shelter in place inside their dormitories (typically cramped environments).

King Yuan has finished testing and has so far reported 195 positive infections out of its workforce of more than 7,000 employees. The final number of cases will be finalized in a few days, a Miaoli health official told Nikkei Asia. The two other companies are still testing their employees.

Local health authorities have told the companies to ask all of their migrant workers to stay inside dormitories.

All the new cases prompted the government on Sunday to order King Yuan, which is a key supplier for Nvidia, Intel, MediaTek and many other top global chip developers, to stop all of its foreign laborers from working. The order was effective immediately, regardless of COVID test results.

“Foreign workers at King Yuan will have to stop working and begin quarantine for at least seven days. Only foreign workers with negative results of PCR tests after the quarantine can return to work,” the CDC director general Chuang Jen-hsiang told Nikkei Asia. “We will have another meeting to decide whether or not King Yuan can resume production later today.”

The company said it expects the two-day halt to reduce its expected revenue and output for June by up to 6%, while other down-stream companies that rely on King Yuan’s product are also struggling.

King Yuan on Friday said that its planned 48-hour production suspension was estimated to reduce revenue and output in June by around 4% to 6%. MediaTek, a customer and a leading mobile chip developer, said its revenue will be hit by King Yuan’s production halt.

“If our foreign workers could not come to work, that will further hit our production output for this month but the scale will need to be further calculated,” a King Yuan spokesperson told Nikkei Asia.

Taiwanese public-health officials must decree the working environment to be “safe” before production can ramp back up to 100%. Greatek is testing 4K of its employees, more than 1K of whom are migrant workers, while Accton is also testing its 1,500-strong staff.

As of Sunday, 11 workers at both Greatek and Accton, had been confirmed to have contracted the virus. A majority of these were migrant workers.

“We haven’t stopped our production lines, but the testing of all employees and some prevention measures will surely affect our production utilization and output,” Chen Sheng, vice president and spokesperson of Greaktek, told Nikkei Asia.

Taiwan’s Hsinchu Science Park, widely recognized as the most important hub for Taiwanese chipmakers, has set up a testing station and is testing around 4K out of the roughly 10K migrant workers who work in the area.

As a reminder, the chart below illustrates how production hiccups in Taiwan can quickly impact supply chains in the US and Europe.

 

end

 

4/EUROPEAN AFFAIRS

 
 

EU//USA

So ends America first:  The doorknob Biden meets with EU leaders to unwind Trump’s $18 billion in tariffs

(zerohedge)

Biden And EU Leaders To Unravel Trump’s $18 Billion ‘America First’ Tariff Fight

 
WEDNESDAY, JUN 09, 2021 – 08:10 AM

President Joe Biden and his European Union counterparts will commit to ending outstanding trade battles next week at an EU-US summit in Brussels on June 15, as globalists eager to get back to ‘business as usual’ seek to unravel tariffs related to a steel and aluminum conflict which came to a head under the Trump administration – contributing to over $18 billion in US and EU exports subject to steep levies.

According to Bloomberg, which has seen a draft of the conclusions, the allies will agree to resolve disagreements – including a nearly two-decade old aircraft dispute which involves illegal government aid provided to Airbus and Boeing – before July 11. In advance of the agreement, US and EU leaders have agreed to suspend aircraft tariffs until July ahead of the pending settlement.

In 2019, the World Trade Organization authorized the U.S. to level tariffs against $7.5 billion of EU exports annually over state support for Airbus, while the EU won permission to hit back with levies on $4 billion of U.S. goods.

The two sides will also work toward rolling off tariffs in the steel and aluminum dispute before Dec. 1, according to the draft. In 2018, the U.S. imposed levies on metals exports from Europe on national-security grounds. The EU retaliated by targeting 2.8 billion euros ($3.4 billion) of American imports with tariffs on a range of big-brand products, including Harley-Davidson Inc. motorcycles, Levi Strauss & Co. jeans and bourbon whiskey. -Bloomberg

“We should finally put ongoing disputes, of which unfortunately there are some, behind us,” said German Foreign Minister Heiko Maas – who must be giddy as a schoolgirl after President Biden handed both Germany a massive gift by laying off sanctions over the Nord Stream 2 pipeline through which Russia will natural gas to Europe. “We are now making progress in some areas: the moratorium on punitive tariffs from the Airbus-Boeing dispute and the EU decision against responding in kind to the measures in the dispute over steel and aluminum tariffs.”

Meanwhile, the US and EU will announce a partnership to bolster the semiconductor industry in both regions as part of a broader platform to collaborate on digital issues through a ‘Trade and Technology Council,’ which will be formally agreed upon during the summit.

“We commit to building an EU-U.S. partnership on the rebalancing of global supply chains in semiconductors with a view to enhancing EU and U.S. respective security of supply,” reads the draft, which notes that they will look to support the design and production of the most powerful and resource efficient semiconductors.

According to the Trade and Technology Council, which aims to “avoid new barriers to trade,” they will establish working groups on artificial intelligence, export controls and investment screening.

 

END

EU/CHINA

Despite the virus initiated by China, more European firms on onshoring production in China. This of course complicates Biden’s decoupling plan

(zerohedge)

More European Firms Onshoring In China Than Offshoring, Complicates Biden’s Decoupling Plan

 
WEDNESDAY, JUN 09, 2021 – 04:15 AM

The European Union Chamber of Commerce in China published a new survey titled “European Business in China Business Confidence Survey 2021,” which stated European businesses are onshoring some of their supply chains and investing more in China. 

Out of the 585 European Chamber member companies operating in China, about 60% were expected to expand operations in the country, up from 51% last year. Half of the respondents reported profit margins in China were higher than their global average, increasing from 38% a year prior. 

“As 2020 progressed, the resilience of China’s market provided much-needed shelter for European companies amidst the storm of the COVID-19 pandemic. Revenue trended only slightly downward, with 75% of respondents either maintaining or increasing revenue y-o-y, and profitability remained steady. On that foundation, optimism about near-term growth in China surged by 20 percentage points, and the number of European companies either expanding or looking to expand their business in China has increased,” the chamber said. 

A quarter of respondents are onshoring some of their supply chains to China, with 4% attempting to entirely onshore. About 10% are diversifying future investment into other countries but will leave operations in China untouched. Only 4% are shifting investments out of China, with 1% fully divesting. “In other words, five times as many companies are onshoring as there is offshoring,” the chamber said. 

Perhaps the European business community has concluded that it doesn’t have the industrial strength to compete with the Chinese economic powerhouse. This is terrible news for President Joe Biden, who continues to follow down the path of former President Trump’s decoupling movement of the US and Western allies against rising China. 

But unlike the Cold War of the last century, this confrontation will be significantly intertwined with economics.

While the US attempts to decouple from China, its allies, mainly in Europe, are bowing down to China and have decided to join as they can’t compete. This will complicate Biden’s vision of the US and its Western allies in leading the world economically and militarily in the 21st century.

END

DENMARK

Denmark now cracks down on mass migration.  It is a little too late

(Kern/Gatestone)

Denmark Cracks Down On Mass Migration

 
WEDNESDAY, JUN 09, 2021 – 02:00 AM

Authored by Soeren Kern via The Gatestone Institute,

The Danish Parliament has passed a new law that will allow the government to deport asylum seekers to countries outside of the European Union to have their cases considered abroad. The legislation is widely seen as a first step toward moving the country’s asylum screening process beyond Danish borders.

The law, proposed by the Social Democrat-led government, is aimed at discouraging frivolous asylum applications. It has been greeted with fury by those who favor mass migration, presumably out of fear that other EU countries may now follow Denmark’s lead.

Denmark, which already has some of the most restrictive immigration policies in Europe, is at the vanguard of European efforts to preserve local traditions and values in the face of mass migration, runaway multiculturalism, and the systematic encroachment of political Islam.

An amendment to the Aliens Act, approved on June 3 by 70 votes to 24, authorizes the government to enter into agreements with non-EU countries (so-called third countries) to allow it to “transfer third-country nationals and stateless persons who apply for asylum in Denmark to the third country in question for the purpose of substantive processing of asylum applications.”

Danish Immigration Minister Mattias Tesfaye, a Social Democrat and the son of an Ethiopian immigrant, told the Financial Times that Denmark had “identified a handful of countries,” mostly in Africa, that might be open to hosting migrant reception centers.

In April, Tesfaye signed a “Memorandum of Understanding” with Rwanda regarding “cooperation on asylum and migration issues.” The document raised speculation that Denmark wants to transfer migrants to the East African country, which has a tradition of hosting refugees. The memorandum spelled out the Danish government’s long-term objective:

“Denmark is committed to finding new and sustainable solutions to the present migration and refugee challenges that affect countries of origin, transit and destination. The current asylum system is unfair and unethical by incentivizing children, women and men to embark on dangerous journeys along the migratory routes, while human traffickers earn fortunes.

“There is a need to finding new ways of addressing the migration challenges by promoting a fairer and more humane asylum system based on a comprehensive approach. This includes addressing the root causes of irregular migration, providing more and better protection of refugees in the regions of conflict and increasing assistance to host nations, countries of origin and transit — along the migratory routes — in order to improve border management, strengthen asylum systems and fight human smuggling.

“It is also the vision of the Danish Government that the processing of asylum applications should take place outside of the EU in order to break the negative incentive structure of the present asylum system.”

Advocates of mass migration have criticized Denmark’s new law. The European Commission, the EU’s powerful administrative arm, said that it had “fundamental concerns” about deporting asylum seekers to countries outside of Europe:

“External processing of asylum claims raises fundamental questions about both the access to asylum procedures and effective access to protection. It is not possible under existing EU rules or proposals under the new pact for migration and asylum.”

Others have accused Denmark of seeking to “export” the asylum process. Gillian Triggs, assistant high commissioner of UNHCR, the United Nations’ refugee agency, warned that “such practices undermine the rights of those seeking safety and protection, demonize and punish them and may put their lives at risk.”

UNHCR global spokesperson Shabia Mantoo added that the agency “remains firmly opposed to national initiatives that forcibly transfer asylum-seekers to other countries and undermine the principles of international refugee protection.”

In an interview with Euronews, Nikolas Feith Tan, a senior researcher at the Danish Institute for Human Rights, said that Denmark’s plan to house asylum seekers outside its borders represents “a fundamental shift” in how the international protection system functions:

“Up until now, refugee protection has been primarily territorial. If you reach Denmark, then Denmark is responsible for both assessing whether you are a refugee or not, and if you are a refugee, then for granting you protection. The new legislation shifts that idea of territorial asylum.”

Tan said that transferring asylum seekers abroad in principle does not violate international law, but that the government should still expect be sued in Danish courts and at the European Court of Human Rights.

Tesfaye said that “a key aim” was to reduce the number of “spontaneous” asylum seekers to Denmark:

The current asylum system has failed. It is inefficient and unfair. Children, women and men are drowning in the Mediterranean or are abused along the migratory routes, while human traffickers earn fortunes.”

Other Measures to Curb Mass Migration

Since assuming power in June 2019, the government of Danish Prime Minister Mette Frederiksen has introduced a raft of measures aimed at curbing mass migration. The measures build on those implemented by previous governments.

June 3, 2021. The Danish Parliament approved by 78 votes to 16 a new law that authorizes the government to revoke Danish citizenship from immigrants who are members of criminal gangs. The law is aimed at tackling a surge in migration-linked violent crime. The amendment to the Citizenship Act allows for the “denial of citizenship for certain forms of serious gang crimes considered detrimental to the vital interests of the State.” The law applies only to dual nationals and not to gang members who, by losing their Danish citizenship, would become stateless. The new law, which is not retroactive, enters into force on July 1, 2021.

Minister of Justice Nick Hækkerup said:

“Gang crime in no way belongs in Denmark. When foreigners or persons to whom we in Denmark have granted Danish citizenship participate in the gangs’ ruthless crime, it is a fundamental expression of contempt for the society of which they are a part. Therefore, it is good news that Parliament has today passed the government’s bill to provide the opportunity to revoke citizenship in the event of serious gang crime to the serious detriment of the state’s vital interests. It is a goal for the government to ensure that Danes can be safe in their everyday lives. When the gangs challenge that security, it must have noticeable consequences.”

May 26, 2021. The Danish Parliament approved by 67 votes to 26 a first-ever Repatriation Law which authorizes the government to deport failed asylum seekers and other migrants illegally in the country. The law allows the government to monitor foreigners’ mobile phones in order to more easily identify and deport them.

The law was approved amid reports that migrants who had been paid between 100,000 and 225,000 Danish kroner ($16,000 and $37,000) by the Danish government to leave the country took the money but then disappeared without actually leaving. Others took the money and left the country and later returned.

Minister for Foreign Affairs and Integration Mattias Tesfaye said:

“We have too many foreigners without legal residence in Denmark who do not return home. It is unsustainable. Both for the individual and for the Danish state, which must spend money on accommodating these people…. The penalties have been increased for those with deportation orders who do not comply with their control obligations. Now we have taken the next step towards a coherent repatriation policy. It is intended to help more foreigners without legal residence to return to their home countries. I am glad that there is broad support for this in the parliament.”

May 6, 2021. The Danish government tightened citizenship rules. In future, individuals with criminal records will be excluded from obtaining Danish citizenship. Individuals found guilty of committing immigration or social security fraud must wait for six years for their citizenship application to be considered. The new rules also introduced an employment requirement. Applicants must have been in full-time employment or have been self-employed for at least three years and six months within the previous four years. Five questions about Danish values ​​have been added to the citizenship test. Applicants will be required to correctly answer four out of the five questions. “There is great agreement among the parties to the agreement that it is crucial that an applicant has adopted Danish values,” the government said in a statement.

Minister for Foreign Affairs and Integration Mattias Tesfaye said:

“We have to draw a line in the sand. People who have been imprisoned must not have Danish citizenship.”

Spokesman for the Liberal Party, Morten Dahlin, added:

“Danish citizenship is a gift to be earned. Therefore, we must make an effort when handing out passports. Those we welcome in the Danish family must have embraced Denmark and stayed on the right side of the law. That is why we in the Liberal Party are happy that there is now a greater focus on Danish values ​​and that there is a crackdown on foreigners who have committed crimes. These have been important demands on our part.”

Conservative Rapporteur Marcus Knuth said:

“The Conservatives have been fighting for new rules for Danish citizenship for over a year. It is especially important to us that criminal foreigners with a prison sentence can never apply for Danish citizenship, and it is important to us that there is now an employment requirement, so one must now have worked the last 3½ out of four years. We also worked on a ceiling on the number of citizenships for applicants outside the EU and the Nordic countries, but unfortunately the government would not. In return, we now have an audit provision, so the government shall call for discussions if there is a significant increase in the number of applicants.”

Liberal Alliance Rapporteur Henrik Dahl said:

“I am first and foremost happy that, as something new, we demand that new citizens have worked for some years before they can get a Danish passport. It is only reasonable that one has contributed to the Danish economy before one gets full rights in Denmark.”

March 17, 2021. The Danish government announced a package of new proposals aimed at fighting “religious and cultural parallel societies” in Denmark. A cornerstone of the plan includes capping the percentage of “non-Western” immigrants and their descendants dwelling in any given residential neighborhood. The aim is to preserve social cohesion in the country by encouraging integration and discouraging ethnic and social self-segregation.

March 9, 2021. The Danish Parliament approved a new law that bans foreign governments from financing mosques in Denmark. The measure is aimed at preventing Muslim countries, particularly Qatar, Saudi Arabia and Turkey, from promoting Islamic extremism in Danish mosques and prayer facilities.

March 9, 2021. The Danish Parliament approved by 96 votes to 0 a new law that bans religious marriages of minors and forced marriages. Islamic preachers and others who conduct such marriages now face up to two years in prison and deportation from Denmark. The same goes for parents who allow their children enter into a Sharia marriage. The penalty for detaining a person in a forced marriage was increased to four years in prison. The law also authorizes the government to withdraw the passports of children if there is reason to believe that they are being sent abroad to be married, regardless of whether the marriage is legally valid. The law bans the use of Islamic nikah marriage contracts which often make it difficult for Muslim women to seek a divorce. The new law entered into force on March 15, 2021.

February 18, 2021. The Danish government announced that it would review the residency status of 350 Syrian migrants from Syria. The move came after the Danish Refugee Board decided that the Rif Damascus region of Syria is now safe and that there is no longer a basis for granting or extending temporary residence permits.

Minister for Foreign Affairs and Integration Mattias Tesfaye said:

“Denmark has been open and honest from day one. We have made it clear to the Syrian refugees that their residence permit is temporary. It can be withdrawn if protection is no longer needed. With the Refugee Board’s decisions this week, the authorities will now review the pile of cases from the same province. This is good. We must give people protection for as long as it is needed. But when conditions in the home country improve, a former refugee should return home and re-establish a life there.”

October 3, 2020. The government proposed a new Repatriation Law to ensure that more rejected asylum seekers were sent home. At least 1,100 rejected asylum seekers in Denmark do not have the right to reside in the country, and more than 200 rejected asylum seekers have remained Denmark for a more than five years. The measures include paying failed asylum seekers 20,000 Danish kroner (€2,700; $3,600) to leave the country.

September 11, 2020. The government proposed an amendment to the Foreigners’ Citizenship Act that would deny Danish citizenship to Danish jihadists — so-called foreign fighters. Cabinet Minister Kaare Dybvad said:

“The government will go to great lengths to prevent foreign fighters who have turned their backs on Denmark from returning to Denmark. We are talking about men and women who have committed or supported outrageous crimes. Therefore, it must also be possible in the future to deprive them of their citizenship.”

September 10, 2020. The government created a new ambassadorial post and a task force to work to establish migrant reception centers in third countries outside of the European Union — in Libya, Tunisia or Morocco.

May 31, 2018. The Danish Parliament approved a ban on Islamic full-face veils in public spaces. The law, sponsored by the center-right government in power at the time, and backed by the Social Democrats and the Danish People’s Party, passed by 75 votes to 30. Anyone found wearing a burka (which covers the entire face) or a niqab (which covers the entire face except for the eyes) in public in Denmark is subject to a fine of 1,000 Danish kroner (€134; $163); repeat offenders could be fined 10,000 Danish kroner. In addition, anyone found to be requiring a person through force or threats to wear garments that cover the face could be fined or face up to two years in prison.

January 26, 2016. The Danish Parliament adopted several measures aimed at reducing the number of asylum seekers arriving in Denmark: The reintroduction of the requirement that only refugees with the highest potential for integration into Danish society be accepted; an increase in time requirement to three years for family reunifications for asylum seekers; an increase in time requirement before the awarding of permanent residency status; additional integration requirements, including the ability to prove language skills, before permanent residency can be attained; permanent and temporary residency status were made easier to lose; the introduction of fees to apply for family reunification and to convert temporary residence permit to permanent residence permit; a 10% reduction in economic aid to asylum seekers; police were given power to confiscate from asylum seekers items of value to support the cost of their stay; asylum seekers were required to live in special housing centers.

Changing Demographics

Denmark, which has a population of 5.8 million, received approximately 40,000 asylum applications during the past five years, according to data compiled by Statista. Most of the applications received by Denmark, a predominately Lutheran country, were from migrants from Muslim countries in Africa, Asia and the Middle East.

In recent years, Denmark has also permitted significant non-asylum immigration, especially from non-Western countries. Denmark is now home to sizeable immigrant communities from Syria (35,536); Turkey (33,111); Iraq (21,840); Iran (17,195); Pakistan (14,471); Afghanistan (13,864); Lebanon (12,990) and Somalia (11,282), according to Statista.

Muslims currently comprise approximately 5.5% of the Danish population, according to the Pew Research Center. Under a “zero migration scenario,” the Muslim population is projected to reach 7.6% by 2050; with a “medium migration scenario,” it is forecast to hit 11.9% by 2050; and under a “high migration scenario,” Muslims are expected to comprise 16% of the Danish population by 2050, according to Pew.

As in other European countries, mass migration has resulted in increased crime and social tension. Danish cities have been plagued by shootings, car burnings and gang violence.

During a recent EU review of the Schengen Agreement, the treaty that regulates the EU’s system of open borders, Minister for Foreign Affairs and Integration Mattias Tesfaye said:

“The possibility of reintroducing temporary border control is crucial for the security of Danes. This was shown by the refugee and migrant crisis in 2015. And the corona crisis has recently reaffirmed this. There is a need for changes to the Schengen rules so that member states have more flexibility to decide. We in Denmark know best when there is a need for control of Denmark’s borders.”

On January 22, during a parliamentary hearing on Danish immigration policy, Prime Minister Mette Frederiksen said that she was determined to reduce the number of asylum approvals:

“Our goal is zero asylum seekers. We cannot promise zero asylum seekers, but we can establish the vision for a new asylum system, and then do what we can to implement it. We must be careful that not too many people come to our country, otherwise our social cohesion cannot exist. It is already being challenged.”

In an interview with Danish broadcaster DR on June 3, MP Rasmus Stoklund said that if someone seeks refuge in Denmark in the future, he or she must expect to be deported to a third country: “Therefore, we hope that people will stop seeking asylum in Denmark.”

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 
 
 
 

end

IRAN/USA/EU/OIL

|My goodness; the doorknob Blinken sees the light:  hundreds of sanctions will remain on Iran

(zerohedge)

Oil Climbs As Blinken Says “Hundreds Of Sanctions” On Iran To Remain

 
WEDNESDAY, JUN 09, 2021 – 10:20 AM

After earlier this week US Secretary of State Antony Blinken somewhat pessimistically portrayed that it remains “unclear” whether Iran is actually willing to restore the nuclear deal, prompting angry words from Foreign Minister Javad Zarif who again pointed out that it’s only Washington not in compliance due to Trump-era sanctions which the Biden White House refused to “bury” in order to make a renewed deal possible, Blinken’s newest statements are pouring more cold water on all the recent speculation that prematurely hailed a Vienna agreement as imminent

During a Tuesday hearing before a US Senate committee the US top diplomat was asked about his assessment of progress at Vienna, to which he frankly replied that hundreds of sanctions targeting Iran are likely to remain in place even if Iran and the United States return to compliance. “He said he would anticipate some sanctions would remain in place, including ones imposed by the Trump administration,” according to his words in RFE/RL.

 

Via Reuters

“If they are not inconsistent with the JCPOA, they will remain unless and until Iran’s behavior changes,” Blinken testified before the Senate Appropriations Committee.

Lately the more enthusiastic and optimistic accounts of how things are going in Vienna have tended to come only from the Iranian side, as well as in some instances Russia. For example Iranian chief negotiator Abbas Araqchi indicated last week that this current round of talks could be “conclusive” and lead to a final agreement. Yet at the same time State Department spokesman Ned Price had said, “There are some hurdles that remain that we haven’t been able to overcome in those five rounds.” At sixth round is expected to start Thursday.

Upon Blinken’s Tuesday comments, and with the Iran deal now looking more elusive, oil prices have continued to climb this week, after at the start of the month US crude futures had reached their highest in over two-and-a-half years after the OPEC+ alliance forecast a tightening global market, coupled with the increasingly cautious statements out of US negotiators in Vienna over reaching a deal.

It was on Sunday that US oil prices hit $70 a barrel for the first time in almost three years, and have inched higher since, also amid predictions of $80 oil this summer – assuming no breakthroughs in Vienna. 

As Goldman in analysis published last month forecast:

“…despite the global market deficit coming in line with our forecasts in recent months, we under-estimated the weight of such demand and Iran uncertainties, keeping prices trading below our $75/bbl 2Q21 fair value”… “With growing evidence of the demand rebound, and imminent clarification on the likelihood of an Iranian return, we now see a clearer path for the next leg higher in oil prices, with the sell-off offering opportunities to position for the rally to $80/bbl.”

It should be recalled that it was an explicit strategy of the prior Trump administration to try and “box-in” Biden on Iran. During the final months of the Trump White House, the Republic administration had on a weekly and almost daily basis rolled out a “mine field” of sanctions and punitive actions slapped on over 700 Iranian entities and officials.

The idea was to create immense hurdles for any rapid rollback of those sanctions, no matter how willing a future administration – and that seems to now be showing its effects. 

 

END

 
 

6.Global Issues

CORONAVIRUS UPDATE/VACCINE//USA

Looks like we are at peak vaccination:  78% of those not planning to get vaccinated are unlikely to change their minds

(Jeffrey Jones/Gallup)

78% Of Those Not Planning To Get Vaccinated Unlikely To Change Their Mind: Gallup

 
TUESDAY, JUN 08, 2021 – 07:25 PM

By Jeffrey Jones of Gallup

Seventy-six percent of U.S. adults say they have been vaccinated against COVID-19 or plan to be, a number that has been stable over the past three months but is higher than in late 2020 and early 2021.

As of the May 18-23 survey, 60% of U.S. adults report they have been fully vaccinated against COVID-19, 4% have been partially vaccinated, 12% plan to be vaccinated and 24% do not plan to be vaccinated.

Among those not planning to be vaccinated, 78% say they are unlikely to reconsider their plans, including 51% who say they are “not likely at all” to change their mind and get vaccinated. That leaves one in five vaccine-reluctant adults open to reconsidering, with 2% saying they are very likely and 19% saying they are somewhat likely to change their mind and get vaccinated — equivalent to 5% of all U.S. adults.

Last week, the Biden administration announced plans to increase efforts to achieve its goal of having 70% of adults at least partially vaccinated by the Fourth of July holiday. With 64% already vaccinated, that goal seems within reach if half of the 12% planning to get vaccinated follow through, even if none of those not planning to get vaccinated change their mind. The administration’s efforts include outreach to citizens, offers of free childcare, and incentives such as free air travel and free sports tickets.

States are also trying creative approaches to encourage those who are reluctant to get vaccinated, including offering lottery prizes of varying amounts, savings bonds, free amusement park tickets and free hunting and fishing licenses.

The brewer Anheuser-Busch is offering Americans free beer if the nation meets Biden’s goal.

Gallup’s data suggest the ceiling on vaccination could be about 80% of U.S. adults. That would include the 76% who are already vaccinated or plan to be plus the 5% who do not plan to get vaccinated but say they are at least somewhat likely to change their mind.

A steady 53% of U.S. adults say they are worried about people choosing not to get vaccinated, including 25% who are very worried. It is now the public’s greatest worry about the virus by a wide margin, surpassing concerns about lack of social distancing in their area (27%), availability of local hospital resources and supplies (11%), and availability of coronavirus tests in their area (5%),

Reasons for Not Getting Vaccinated Vary

Gallup’s March and April COVID-19 surveys found no dominant reason among vaccine-reluctant individuals for their intention not to get vaccinated. The most common reasons given were wanting to confirm the vaccine was safe (23%) and a belief they would not get seriously ill from the virus (20%). Slightly fewer expressed concerns about the timeline for developing the vaccine (16%) or mistrust of vaccines in general (16%). Ten percent said they already have immunity because they have had COVID-19, while 10% cite allergies or concern about allergies as the reason they do not plan to get vaccinated.

The one in four vaccine-reluctant adults are not distributed equally across major demographic groups:

  • About half of Republicans, 46%, compared with 31% of independents and 6% of Democrats, do not plan to get the COVID-19 vaccine.

  • Americans without a college degree are much more likely than college graduates to be vaccine-hesitant, 31% to 12%.

  • Vaccine hesitancy is more common among middle-aged Americans (33% of those between the ages of 35 and 54) than among younger (22%) and older Americans (20%).

Bottom Line

Widespread COVID-19 vaccination has undoubtedly been a major reason behind the steep decline in infections and deaths from the disease in the U.S. in recent months. The rate of vaccinations has slowed down considerably in recent weeks, now that most Americans who wanted to get vaccinated have done so. Further increasing the proportion of vaccinated adults in the population will be a challenge, as the remaining vaccine-willing population may be less eager to get their shots. They may also face practical or logistical challenges to getting vaccinated, something vaccine administrators are attempting to overcome by offering walk-in appointments at pharmacies and health centers, on-site vaccination for employees at work sites, travelers at airports, and in churches. Incentives may also encourage those who are less motivated to get the vaccine to do so.

However, these efforts seem unlikely to convince the nearly one in five Americans who do not plan to get vaccinated and say they are unlikely to change their mind. Still, having somewhere between 65% and 80% of the public vaccinated, in addition to the unvaccinated Americans who have had and recovered from COVID-19, may be enough to ensure that Americans can largely return to their pre-pandemic lives without fear of getting sick or contributing to further spread of the disease.

END

NATURAL NEWS

Top immunologist was told two drugs could help curb the spread of COV!D but he ignored it to push for vaccines, Hydroxychloroquine and Alvesco (ciclesonide

Heyes/NaturalNews)

Fauci busted: Top immunologist was told two drugs could help curb the spread of COVID-19 but he ignored it to push vaccines

 

Image: Fauci busted: Top immunologist was told two drugs could help curb the spread of COVID-19 but he ignored it to push vaccines
 

(Natural News) Dr. Anthony Fauci has become the poster boy for what is wrong with our government, as evidenced by the massive emerging scandal involving his so-called “leadership” during the COVID-19 pandemic.

This career bureaucrat — the highest-paid federal employee at more than $400,000 a year — has been the head of his National Institutes of Health agency since the early 1980s. He’s on his seventh president. He no doubt knows a lot about everyone in D.C. at this particular moment. He probably knows where a few of the ‘bodies are buried,’ if you follow.

And because of this insulation from society, he pretty much behaves any way he wants to, up to and including putting Americans lives in danger and, honestly, allowing Americans to die to protect his own interests.

That’s the assessment, anyway, of the situation after emails obtained via Freedom of Information Act requests were published last week revealing Fauci ignored a research physicist who told him there were effective, existing medicinal treatments for the coronavirus that caused the pandemic but he chose to push vaccines exclusively.

Breitbart News reports:

Emails show Dr. Anthony Fauci was advised by Erik Nielsen, a physicist and CEO of Bio-Signal Technologies, in March 2020, that two drugs could possibly help battle the coronavirus pandemic, but Fauci ignored it, claiming the email was “too long” for him to read.

Nielsen, in the email, said he had instructed members of his family to get “Alvesco (ciclesonide) for emergency use only.” He claimed that his “colleagues on the front-line in Japan, China, and Korea found several pre-print papers, that it is an effective treatment for late-stage COVID-19 patients.

“Some patients on ventilators who were approaching death have fully recovered after treatment with ciclesonide,” noting “ciclesonide has much smaller particles than other corticosteroids, so it reaches deeper into lungs and alveolis,” Nielsen added.

Mind you, one of COVID-19’s most dangerous aspects was its ability to attack the human respiratory system, as noted by the high number of elderly people who succumbed to the disease. Many of them had preexisting conditions, but clearly it is common that an older person’s lung functions are far more diminished than those of more active, much younger people.

The physicist went on to note that a second drug could also, quite possibly, be used, which he advised his own family to obtain: The drug “is called hydroxychloroquine,” he told Fauci, “also seems to be effective and safe.”

But, he further noted, “Alvesco is better because it appears to prevent the virus from replicating so infection is wiped out and no longer contagious. Alvesco seems to be two silver bullets in one.”

Just two days after getting the email, however, Fauci was asked about the potential effectiveness of hydroxychloroquine in treating people who contracted COVID-19; he responded, “The answer is no.” He went on to say during a coronavirus briefing that the “signs of the drug’s promise were purely ‘anecdotal evidence.’”

 

So — just how culpable is Fauci in all of this? Because additional emails say that he was aware early on that the virus likely escaped from the Wuhan Institute of Virology in China but of course, he has claimed throughout the pandemic that it occurred ‘naturally’ in “animals.”

Very much so, says Rep. Matt Gaetz, R-Fla.

“Dr. Fauci has blood on his hands, and now the entire country knows it,” Gaetz said during an interview with Newsmax TV on Friday. “We know that the very type of research that erupted this virus onto the world was research that the U.S. taxpayer was funding in part and that Dr. Fauci and his friends were directly involved in.”

“Now that we’re seeing the emails, not only are we getting to the truth, we’re also identifying those that were involved in covering up the truth, and that’s where the cover-up lands, right on the desk of Dr. Fauci,” he added.

 
end
 
They should put this guy on trial at the Haig for war crimes
(Winters/NationalPulse.com)

Watch: Fauci Pal Daszak Admits “Chinese Colleagues” Developing “Killer” Coronaviruses

 
WEDNESDAY, JUN 09, 2021 – 08:23 AM

Authored by Natalie Winters via TheNationalPulse.com,

EcoHealth Alliance President Peter Daszak – who collaborated with the Wuhan Institute of Virology on research funded by Dr. Anthony Fauci’s National Institute of Allergy and Infectious Disease – appears to boast about the manipulation of “killer” SARS-like coronaviruses carried out by his “colleagues in China” in a clip unearthed by The National Pulse.

Daszak made the admission at a 2016 forum discussing “emerging infectious diseases and the next pandemic,” which appears to be at odds with Fauci’s repeated denial of funding gain-of-function research at the Wuhan Institute of Virology.

While describing how his organization sequences deadly viruses, Daszak describes the process of “insert[ing] spike proteins” into viruses to see if they can “bind to human cells” as being carried out by his “colleagues in China”:

“Then when you get a sequence of a virus, and it looks like a relative of a known nasty pathogen, just like we did with SARS. We found other coronaviruses in bats, a whole host of them, some of them looked very similar to SARS. So we sequenced the spike protein: the protein that attaches to cells. Then we…

Well I didn’t do this work, but my colleagues in China did the work. You create pseudo particles, you insert the spike proteins from those viruses, see if they bind to human cells. At each step of this you move closer and closer to this virus could really become pathogenic in people.

You end up with a small number of viruses that really do look like killers,” he adds.

The comments follow growing evidence that Fauci’s NIAID has deep financial and personnel ties to the Wuhan Institute of Virology – and that Daszak’s EcoHealth alliance was one of the primary proxies funneling the money to the Chinese Communist Party lab.

Over a dozen research papers carried out under a $3.7 million National Institute of Allergy and Infectious Disease (NIAID) grant list the Wuhan Lab’s Center for Emerging Infectious Diseases Director Shi Zhengli as a co-author alongside Daszak. Shi has included these Fauci-backed grants on her resume.

The Wuhan lab has also listed the National Institutes of Health (NIH) as one of its “partners,” secretly erasing the mention in March 2021.

end

HCQ and Azithromycin + zinc is great and Ivermectin is even better

Tom Ozimek

Weight-Adjusted Hydroxychloroquine and Azithromycin Boosted Survival of Ventilated COVID-19 Patients by 200 Percent: Study

June 9, 2021 Updated: June 9, 2021
biggersmaller 

 

A new study has found that the use of weight-adjusted Hydroxychloroquine (HCQ) and Azithromycin (AZM) improved the survival of ventilated COVID-19 patients by nearly 200 percent.

The observational study, which has not yet been peer-reviewed, was based on a re-analysis of 255 patients on invasive mechanical ventilation (IMV) during the first two months of the pandemic in the United States.

The researchers found that, when the HCQ/AZM combination was given at lower dosages to treat ventilated COVID-19 patients, the risk of death was over three times higher.

“We found that when the cumulative doses of two drugs, HCQ and AZM, were above a certain level, patients had a survival rate 2.9 times the other patients,” the authors of the study noted.

“By using causal analysis and considering of weight-adjusted cumulative dose, we prove the combined therapy, >3 g HCQ and > 1g AZM greatly increases survival in COVID patients on IMV and that HCQ cumulative dose > 80 mg/kg works substantially better,” they wrote.

While the authors acknowledged that, since patients with higher doses of HCQ had higher doses of AZM, they “cannot solely attribute the causal effect to HCQ/AZM combination therapy.”

“However, it is likely AZM does contribute significantly to this increase in survival rate. Since higher dose HCQ/AZM therapy improves survival by nearly 200 [percent] in this population, the safety data are moot,” they added.

Hydroxychloroquine—an anti-inflammatory and anti-malarial drug—has been one of the most contested treatments for COVID-19 throughout the pandemic.

A pharmacist displaying a box of hydroxychloroquine

 

A pharmacist displaying a box of hydroxychloroquine (HCQ) tablets in his store in Hyderabad on April 28, 2020. (Noah Seelam/AFP via Getty Images)

The drug was approved by the Food and Drug Administration (FDA) in 1955 to treat and prevent malaria. It is also prescribed for lupus and rheumatoid arthritis.

While the FDA initially granted HCQ an emergency use authorization (EUA) to treat COVID-19 in March 2020, the agency revoked it on June 25, 2020, because data suggested it was “unlikely to be effective in treating COVID-19” and that its potential risks outweighed the benefits.

The FDA’s turnabout came on the heels of a study by Oxford University in the United Kingdom that found HCQ underperformed its routine treatment protocols.

“Unfortunately, problems in research methodologies assessing the effectiveness and risks of HCQ have left lingering doubts,” wrote Dr. Joseph Mercola, an osteopathic physician, in an op-ed for The Epoch Times. “Those problems include questionable dosing,” he added.

Some, like The Epoch Times contributor Roger L. Smith, have argued that studies around the use of HCQ to treat COVID-19 were politicized by opponents of former President Donald Trump, who advocated the use of the drug.

Robert H to me:

Fauci Deception and the Australian B and C grade Group Think Teams Block early Treatments

 
 
 
 
Fauci will continue to be subject of much ridicule as will those politicians who followed his lead.
And one can only ponder at the angry people will have who have suffered at the lead of this liar and the countless lives affected from those who lost their jobs or livelihood to those who suffered personal loss.
The longer the Biden crowd and media like Facebook continues to band behind this liar the faster their credibility will fall. A awakened public does not take kindly to being lied to.
This fallout now in process will not be limited to the US but will flow out internationally as questions will grow about the quality of Health authorities abroad and the politicians continuing to muddle in the mud of lies and health fraud.
What a mess !

 

https://www.ourfreedomtube.com/watch/fauci-deception-and-the-australian-b-and-c-grade-group-think-teams-block-early-treatments_yLTzQiUTjMTSVTF.html

Cheers
Robert

 
end
And then this;

Mass Protests Can End Vaccine Passports

 
 
 
 
 
 
Protests are not limited to London as the press is suppressing reporting on such events internationally as I personally have observed first hand.
As the reporting of the FAUCI LIES  grows daily now with evidence from his emails and the like, his relevance as a medical authority pales in face of real qualified doctors who are speaking out in ever greater numbers about the his lies about Covid. Sooner or later ten links to Gates and the WEF WILL GROW in greater numbers putting the whole Reset agenda in real jeopardy as people lay blame at the feet of politicians who walked this fraudulent path of lies espoused by Fauci and others. In due course, this will even spread to the so called vaccines for Covid especially as some elements of those vaccinated, experience problems related to the vaccines. As this happens, watch for doctors who recommended vaccines find themselves at the end of lawsuits. The concept of “do no harm” will take traction as people sue, especially in America.
As we motor through summer one might imagine by mid to late fall unrest and protests will grow leading into next year when we could well experience panic in political land. What is also interesting is that there appears to be a Repo crisis brewing similar to what we experienced back in 2008. While the reporting on this is limited, at the moment, this could come as a major event with little warning ⚠️. The system is far more fragile than people know and banks are most concerned in lending to counter parties or even trade risks than seen in recent years. 2022 will be far more turbulent than imagined. And one should expect to see credit curtailment occur in Reno’s on properties as banks ask for more equity on speculative properties, as opposed to easy bank credit.  Given that real costs are already up over 25% as actual dollar volume  is up 15% this year in North America. At some point likely late next year or early 2023 there will be shakeout in both sales and prices as a peak is reached causing stagnation. Until then there will be a hot market in North American real estate and growing resistance in Europe as it suffers from the closures which will and are manifesting in supply chain issues and price resistance and credit shortages.

 

https://articles.mercola.com/sites/articles/archive/2021/06/08/protests-against-vaccine-passports.aspx

Cheers
Robert

end
What is wrong with these bozos: can’t they tell the truth for once:
The totally lied on hospitalizations rising among unvaccinated teens.
(Horowitz/The Blaze.com

Contagious Lies: CDC Claims Hospitalization Rising Among Unvaccinated Teens… Contrary To Its Own Data

 
WEDNESDAY, JUN 09, 2021 – 02:50 PM

Authored by Daniel Horowitz via TheBlaze.com,

We all knew this was coming.

In order to justify the forced vaccination of children, the powers that be would somehow have to overturn 15 months of observations that COVID is less a threat to children than the flu and that unvaccinated children are less at risk than vaccinated adults (100 times less at risk than seniors), even if we are to believe Pfizer’s efficacy data.

“CDC director reports spike in teen hospitalizations, urges parents to vaccinate kids over 12,” was the headline at the Hill on Friday, reporting on the CDC’s new study of hospitalizations.

Naturally, it caught my attention because we all know that hospitalizations among all age groups have been plummeting to record lows across the country in recent weeks.

It turns out that along with its Morbidity and Mortality Weekly Report (MMWR), the CDC published a “study” purporting to show an increase in hospitalizations among 12- to 17-year-olds, with one-third of them being in the ICU and 5% of them being placed on ventilators.

CDC Director Rochelle Walensky was ready to pounce.

“I am deeply concerned by the numbers of hospitalized adolescents and saddened to see the number of adolescents who required treatment in intensive care units or mechanical ventilation,” said Walensky in a statement.

Of course, the solution is the great experimental gene therapy.

Until they are fully vaccinated, adolescents should continue to wear masks and take precautions when around other [sic] who are not vaccinated to protect themselves, and their family, friends, and community,” Walensky stated.

CNN dutifully echoed the false data and the premise it engenders without investigating it.

But there’s one problem. The CDC’s own data show that hospitalizations among all groups have plummeted over the past six weeks.

It turns out they picked arbitrary start and end points – an old trick they’ve used with mask studies – which coincides with a period of increased hospitalizations among all age groups, including those with high vaccination rates.

The study period of the CDC’s report was from March 1, 2020, to April 24, 2021. It just so happens that April 24 was roughly the peak period for ALL age groups!

Most of that mini increase (after the major winter spread) was due to the final spring spread in the northeast and upper Midwest. Based on the CDC’s headlines, one would think that childhood hospitalizations are spreading now and that they are rising relative to other age groups. In reality, they have plummeted and only rose slightly from a near-zero baseline earlier this year along with other groups.

If anything, the April 24 “peak” hospitalization rate among teens was lower than the peak during the winter, yet nobody ever felt there was an emergent situation with teen COVID hospitalizations during the worst months of the winter.

This is the same thing the CDC and others did when they picked arbitrary start and end points last year showing a decline in cases after mask mandates were instituted, while ignoring the massive subsequent increase over the winter in these same places.

Read more here…

The major global issues facing the world today

Michael Every 

Rabo: Is Inflation “Gonna Get High?”

 
WEDNESDAY, JUN 09, 2021 – 09:45 AM

By Michael Every of Rabobank

Is Inflation ‘Gonna Get High?’

US 10-year Treasury yields dipped around 3bp yesterday and, far less relevantly for 99% of us, Bitcoin tumbled nearly that in percentage terms, and gold also dipped – this despite oil spiking, and that despite the US dollar rising.

The trend was related to the headline that talks between President Biden and Republicans over his proposed infrastructure spending bill have collapsed. Recall that on matters of spending in the US, “The President proposes, and Congress disposes”. And that with the Senate 50-50, and Democratic senators Manchin and Sinema opposed to using Budget Reconciliation to ram stimulus through, and to the removal of the Senate filibuster to allow stimulus to proceed on a straight up-down vote, there is no way that this spending can happen – unless something changes. (And if so, what?)

As flagged in the inflation framework we published on Monday, this implies that while inflation pressures will still rise from here near-term because of the ongoing Bullwhip Effect, they will then decline again further out. Indeed, this bullwhip is bearish for the real economy if you caught the surprise drop in German industrial production yesterday, where key auto output fell sharply even as demand spiked: keine semiconductors, nicht war?

In that case, we would again be stuck with the pre-Covid new normal monetary policy shtick: just without the loosey-goosey fiscal policy. We know what economic outcomes that drives – and high inflation isn’t one of them. Imagine the Fed having to keep explaining why it cannot generate higher inflation or lower inequality with low, low rates and high, high QE. The markets just started to that with most of the above price action.

However, there were two other crucial political announcement yesterday in DC too.

  • First, the Senate passed the US Innovation and Competition Act on a bipartisan 68-32 basis. As covered yesterday, this provides billions for new investments of various forms in various fields, includes funding for scientific research, subsidies for semiconductor fabs and robot makers, and overhauls the National Science Foundation. It also codifies that the iron, steel, manufactured products, and construction materials used in federally funded infrastructure projects –which aren’t perhaps going to happen now?– must be made in the US. It is, by any measure, one of the most significant industry and science-related bills in decades. And it is aimed squarely at China.

  • Second, the White House released a 250-page report on its 100-day review of supply chains. The executive summary was long on repetition and short on up-front funding, but made a few things clear. The US is serious about controlling its supply chains to increase resiliency and compete with China. It wants to: develop rare-earths at home; buy components and inputs more from countries it is friendly, rather than antagonistic, with; and to shift production of electric vehicle batteries, cutting-edge semiconductors, and key pharmaceuticals back to the US. The press conference around the release also stated: “First and foremost, American workers. Decades of focusing on labour as a cost to be managed and not an asset to be invested in have weakened our domestic supply chains, undermined wages and union density for workers, and also contributed to companies’ challenges finding skilled talent.”

As also noted in the inflation framework piece from this week, talk –like imports– is cheap. However, given that the only Republican complaint about this strategy is likely to be that it doesn’t go far enough, we can surely see that we have now passed a political Rubicon. Yes, mistakes will surely be made; things might happen in bursts then pause; and it may be two-steps forward, one step back – but supply chains WILL begin to shift, if only due to national security rather than love of labor. They will either flow back to the US or to allies of the US; and capital flows will shift with them. This will take years, or even decades; but the neoliberal global edifice that peaked before the Global Financial Crisis took decades to build too, and it started, among other things, with President Carter deregulating air-traffic control in 1978 and trucking in 1980.

And here we are today with serious people talking about the potential collapse of the liberal world order from what was the strongest starting position in world history, as financial media keep popping champagne corks at wonderful everything is, and global day-traders flip cryptocurrencies linked to porn stars, while waiting for an irascible billionaire to tweet emojis telling them how to make massive instant returns.

Obviously, reversing neoliberalism is going to be inflationary – but it is also going to be a slow burn without fiscal policy to accelerate reticent businesses to act. That’s arguably what matters most going forwards – we have decided to head off for a journey in a new, or rather return, direction. But we haven’t even charged up the (electric) car yet, let alone started out on the road. Once we do get moving, however, expect markets to begin screaming “Are we there yet? Are we there yet? Are we there yet?”  

Even the pandemic is related. Yesterday, I noted those advocating Ivermectin (albeit with a Scottish-sounding typo that made it sound like a drug one would get dispensed along with Pebblescillin). On the other hand, in Washington state they are handing out “joints for jabs” to encourage people to get vaccinated, so there is that. As a colleague remarked, soon they won’t have high numbers of new patients, but new numbers of high patients. And this can even link back to monetary and fiscal stimulus, given the combination of extended unemployment benefits and the lack of workers to fill record-highs in opening positions: “I was gonna go to work, but then I got high; I just got a new promotion, but I got high.”

But far more seriously, even Bloomberg now understands that if certain conclusions end up being drawn about virus origins –a decision where politics will play as much of a role as science– then “brace yourself”. Indicatively, Australian PM Morrison will today give a pre-G7 speech pushing again for a transparent investigation into Covid-19 –which helped trigger the initial breakdown of Aussie-Chinese relations– while claiming the risk of conflict involving China is rising as the world faces a period of uncertainty not confronted since the 1930s; and he calls on Western allies to work together as they did during the Cold War. (With its bifurcated global economy.)

So, in short, the move lower in key bond yields is right –for now– because fiscal impetus may be flagging. But those popping champagne corks and thinking ‘New Normal 2.0!’, and “because markets!” might soon need a joint too.

end

7. OIL ISSUES

END

8 EMERGING MARKET ISSUES

INDIA//CORONAVIRUS UPDATE/VACCINE//IVERMECTIN UPDATE
This is totally nuts;  we have a sinister global plot against humanity
Lee/REpochTimes)

WHO Chief Scientist Served Legal Notice In India For Allegedly Suppressing Data On Drug To Treat COVID-19

 
TUESDAY, JUN 08, 2021 – 10:25 PM

Authored by Meiling Lee via The Epoch Times,

The Indian Bar Association has taken legal action against the World Health Organization’s (WHO) Chief Scientist Dr. Soumya Swaminathan for her alleged role in spreading disinformation on the use of ivermectin to treat COVID-19.

World Health Organization’s chief scientist Soumya Swaminathan looks on during an interview with AFP in Geneva on May 8, 2021. (Fabrice Coffrini/AFP via Getty Images)

The association served a legal notice (pdf) on Swaminathan on May 25, claiming that she was “spreading disinformation and misguiding the people of India, in order to fulfill her agenda” and sought to prevent her from “causing further damage.”

They further say that Swaminathan, in her statements against the use of ivermectin, ignored research and clinical trials from two organizations – the Front Line COVID-19 Critical Care (FLCCC) Alliance and the British Ivermectin Recommendation Development (BIRD) – who have presented solid data showing ivermectin prevents and treats COVID-19.

“Dr. Soumya Swaminathan has ignored these studies/reports and has deliberately suppressed the data regarding effectiveness of the drug Ivermectin, with an intent to dissuade the people of India from using Ivermectin,” the plaintiff said in a statement (pdf).

In a May 10 tweet that has since been deleted after the notice was issued, Swaminathan wrote, “Safety and efficacy are important when using any drug for a new indication. WHO recommends against the use of ivermectin for COVID-19 except within clinical trials.”

Swaminathan made the Twitter post soon after Goa’s health minister announced that every Goa resident 18 and older would be given ivermectin as prevention regardless of their COVID-19 status, as part of the state government’s effort to stop the transmission of the virus. India has been hit hard in the second wave of the CCP (Chinese Communist Party) virus pandemic beginning in March 2021.

The legal notice calls for a clear response from Swaminathan on a number of key points, and the association said that in the case of a failure to provide a clear response, it reserves the right to initiate prosecution under sections of the Indian Penal Code and Disaster Management Act, 2005.

The WHO’s chief scientist didn’t reply to a request for comment.

A health worker shows a box containing a bottle of Ivermectin, a medicine authorized by the National Institute for Food and Drug Surveillance (INVIMA) to treat patients with mild, asymptomatic, or suspicious COVID-19, as part of a study of the Center for Pediatric Infectious Diseases Studies, in Cali, Colombia, on July 21, 2020. (Luis Robayo/AFP via Getty Images)

A link to Merck’s statement on ivermectin was also included in Swaminathan’s tweet. The pharmaceutical company that developed the anti-parasitic drug in the 1980s and held a patent until 1996 said in February of this year that the available data did not support the efficacy and safety of ivermectin beyond what the Food and Drug Administration (FDA) had approved it for.

Merck, in collaboration with Ridgeback Biotherapeutics, is conducting a Phase 3 trial of an investigational anti-viral drug molnupiravir, which the company says has shown to reduce infectious viruses quicker in COVID-19 outpatients. But unlike ivermectin, molnupiravir demonstrated no clinical benefit in hospitalized patients.

The trial is expected to complete later this October and Merck said it will apply for an emergency authorization use for the drug if results are favorable.

Researchers are hoping that molnupiravir will impair the CCP virus’s ability to replicate so as to prevent severe illness and hospitalization, something that ivermectin has demonstrated to do in a meta-analysis of 57 clinical trials involving more than 18,000 patients, according to ivmmeta.com, a website that provides real-time meta-analysis of ivermectin studies.

In 23 early treatment studies, there was a 78 percent improvement in patients given ivermectin, and in 14 preventative trials, an 85 percent improvement was shown. As for the studies involving late treatment, there was a 45 percent improvement in 20 studies.

Proponents of ivermectin say the drug can treat all stages of COVID-19 and reduce hospitalization and mortality rates due to its anti-viral and anti-inflammatory properties. But there has been pushback on approving the drug as a COVID-19 treatment by the United States federal health authorities and the WHO.

The FDA says it hasn’t approved ivermectin for COVID-19 and issued a warning in early March informing people to not take the drug meant for animals, as the larger doses intended for animals may be harmful to humans.

While the National Institutes of Health (NIH), the largest medical research agency, is neither recommending for or against using ivermectin to treat COVID-19 in its updated guideline in February. This comes after members of the FLCCC Alliance presented their data to the agency at the beginning of the year.

In April, the NIH announced it would fund a large randomized, controlled study of seven repurposed drugs to treat mild to moderate COVID-19 patients. The research agency said it will begin enrolling for its Phase 3 trial on ivermectin this month.

“Trial enrollment is expected to open this month, and the trial is expected to run for up to 2 years,” an NIH spokesperson told The Epoch Times via email.

The WHO, in its Living Guideline, has advised against the use of ivermectin except in a clinical setting, citing inconclusive data similar to both the FDA and the NIH.

“The current evidence on the use of ivermectin to treat COVID-19 patients is inconclusive,” the WHO said in a press release.

“Until more data is available, WHO recommends that the drug only be used within clinical trials.”

Dr. Pierre Kory, President and Chief Medical Officer of the FLCCC Alliance claims there is a concerted effort to censor information on the effectiveness of ivermectin against COVID-19, a disease caused by the CCP virus.

“There are forces that are seeking to make sure that ivermectin is not accepted widely as an effective therapy,” Kory said in an interview on June 1.

“We have randomized [trials], you have observational [studies], you have case series, you have epidemiologic analyses, and then the clinical experience of doctors. You can’t find a doctor who has incorporated ivermectin into their treatments who will come back and say my patients didn’t get better, you can’t find that doctor,” he added.

A screenshot of the results of a meta-analysis of 57 clinical trials on the use of ivermectin in COVID-19 patients, from ivemmeta.com. (Screenshot via The Epoch Times)

While ivermectin is yet to be approved as a treatment for COVID-19, doctors around the world, including in the United States, are offering the drug to their patients. And for doctors who refuse to administer the drug to patients suffering severe COVID-19, judges have had to order them to do so.

In their legal notice, the Indian Bar Association cited the case of 80-year-old Judith Smentkiewicz, who made a full recovery after being on a ventilator and told she only had a 20 percent chance of survival. Her family obtained a court order that allowed her to receive additional doses of ivermectin after doctors were hesitant to give her more than one dose, according to Buffalo News.

Smentkiewic’s family and attorneys say they believe that ivermectin saved her life.

Ivermectin is on the WHO’s list of essential medicines and has a high safety profile with more than 3.7 billion doses having been distributed in over 30 years.

Since the drug was first given to humans in 1987, there have only been 4,600 adverse events and 16 deaths reported on the pharmacovigilance database, according to Dr. Tess Lawrie in an interview on March 6. Lawrie is director of Evidence-based Medicine Consultancy Ltd. and co-founder of the BIRD panel, which includes international expert scientists and doctors who are advocating for the use of ivermectin to treat COVID-19.

Remdesivir, an anti-viral drug, is the only FDA-approved therapy for treating hospitalized COVID-19 patients. The drug has shown no effect on mortality and a minuscule benefit on time of recovery that even the WHO has recommended against its use last November.

A treatment course of remdesivir is a little over $3,000, while ivermectin ranges between $3 to $12 a treatment, according to Kory.

He also said that places in India where ivermectin is used preventatively or as early treatment, such as Goa and Uttar Pradesh, are seeing COVID-19 cases declining versus states that have banned the drug.

“Every one of those states, the curves are now precipitously declining,” said Kory.

“But there’s a state in India called Tamil Nadu whose minister there basically effectively outlawed ivermectin and went all-in on remdesivir, bought a whole bunch of remdesivir, [and] the cases and deaths in that state are skyrocketing,” he added.

The Epoch Times has reached out to the chief minister in Tamil Nadu for comment.

According to data by the Johns Hopkins University Center for Systems Science and Engineering, Tamil Nadu saw 20,421 new cases and 434 deaths on June 6, while Goa recorded 403 new cases and 16 deaths, and Uttar Pradesh reported 1,037 cases and 85 deaths.

Uttar Pradesh, one of the most populous states in India with over 200 million people, has been handing out free medical kits containing seven days’ worth of medication, one of which is ivermectin, for COVID-19 positive patients under home isolation.

 
 
 
 
END

Vaccine lobbyists doing a great job in India

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings WEDNESDAY  morning 7:30 AM….

Euro/USA 1.2192 UP .0020 /EUROPE BOURSES /ALL RED

USA/ YEN 109.39 DOWN 0.002 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.4175  UP   0.0025  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2082  DOWN .0031

 

Early THIS WEDNESDAY morning in Europe, the Euro UP BY 20 basis points, trading now ABOVE the important 1.08 level RISING to 1.2192 Last night Shanghai COMPOSITE CLOSED UP 11.29 PTS OR 0.32% 

//Hang Sang CLOSED DOWN 38,75 PTS OR 0.13%

 

/AUSTRALIA CLOSED DOWN 0.27% // EUROPEAN BOURSES OPENED ALL RED

 

Trading from Europe and Asia

EUROPEAN BOURSES CLOSED ALL RED   

 

2/ CHINESE BOURSES / :Hang SANG CLOSED DOWN 38,75 PTS OR 0.13%

/SHANGHAI CLOSED UP 11.29 PTS OR 0.32% 

Australia BOURSE CLOSED DOWN 0.27%

Nikkei (Japan) CLOSED DOWN 102.76 PTS OR 0.35%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1890.70

silver:$27.64-

Early WEDNESDAY morning USA 10 year bond yr: 1.499% !!! DOWN 5 IN POINTS from TUESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.175 DOWN 5  IN BASIS POINTS from TUESDAY night.

USA dollar index early WEDNESDAY morning: 89.99  DOWN 9 CENT(S) from TUESDAY’s close.

This ends early morning numbers WEDNESDAY MORNING

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And now your closing  WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.40% DOWN 3  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.071%  DOWN 5/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.39%//  DOWN 5 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.83 DOWN 4   points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 44 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.24% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.09% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR  WEDNESDAY

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

Euro/USA 1.2188  UP     .0016 or 16 basis points

USA/Japan: 109.61  UP .135 OR YEN DOWN 14  basis points/

Great Britain/USA 1.4123 DOWN .0025 POUND DOWN 25  BASIS POINTS)

Canadian dollar UP  16 basis points to 1.2098

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The USA/Yuan,  CNY: closed    ON SHORE  (UP).. 6.3874

THE USA/YUAN OFFSHORE:    (YUAN UP)..6.3875

TURKISH LIRA:  8.59  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.071%

Your closing 10 yr US bond yield DOWN 5 IN basis points from TUESDAY at 1.498 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.178 DOWN 5 in basis points on the day

Your closing USA dollar index, 90.07  DOWN 1  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 14.08 PTS OR 0.20% 

 

German Dax :  CLOSED DOWN 59.48 PTS OR 0.38% 

 

Paris CAC CLOSED UP 12.44  PTS OR 0.09% 

 

Spain IBEX CLOSED UP 10.10  PTS OR  0.11%

Italian MIB: CLOSED DOWN 15.55 PTS OR 0.06% 

 

WTI Oil price; 69.83 12:00  PM  EST

Brent Oil: 72.15 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    72,30  THE CROSS  HIGHER BY 0.03 RUBLES/DOLLAR (RUBLE LOWER BY 3 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.24 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 for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM : 69.73//

BRENT :  71.98

USA 10 YR BOND YIELD: … 1.488..DOWN 6 basis points…

USA 30 YR BOND YIELD: 2.170 DOWN 5 basis points..

EURO/USA 1.2176 UP 4   BASIS POINTS)

USA/JAPANESE YEN:109.62 UP 145 (YEN DOWN 15 BASIS POINTS/..

USA DOLLAR INDEX: 90.15 UP 7  cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.4111 DOWN 38  POINTS

the Turkish lira close: 8.59

the Russian rouble 72.33   DOWN 0.06 Roubles against the uSA dollar. (DOWN 6 BASIS POINTS)

Canadian dollar:  1.2115  DOWN 2 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.24%

The Dow closed DOWN  152.68 POINTS OR 0.44%

NASDAQ closed UP 4.08 POINTS OR 0.03%


VOLATILITY INDEX:  17.84 CLOSED UP  0.77

LIBOR 3 MONTH DURATION: 0.128%//libor dropping like a stone

USA trading day in Graph Form

END

a)Market trading/THIS MORNING/USA/

10Y Yields Plunge Below 1.50% As Record Short Squeeze Accelerates

 
WEDNESDAY, JUN 09, 2021 – 08:41 AM

With the recent JPMorgan Treasury Client Survey showing that self-reported Treasury net longs were at record lows (and by extension, shorts were all time high) understandably perhaps ahead of an inflation print that is expected to be among the highest on record, there were virtually no traders left to short Treasuries, with all bears already on board.

This meant that as a result of a massive position imbalance, the risk was for a raging short squeeze on even a whiff of deflationary news, and that’s precisely what we have seen in recent days, starting with last Friday’s disappointing payrolls report which sent 10Y yields lower by 8 bps, and continued with the collapsing odds that a Biden infrastructure plan will pass, amid a breakdown in GOP talks and opposition by centrists such as Manchin.

The squeeze, which started with last Friday’s big payrolls miss, has continued through this morning, when the 10-year Treasury yield fell as much as 4bps, sliding below 1.5% for the first time since May 7 – which was also a kneejerk short covering burst following last month’s even bigger payrolls miss – as traders scrambled to unwind record short positions.

The 10-year yield peaked at about 1.77% in March and has since fallen as low as 1.46% on May 7 after the release of April’s dismal payrolls report. It dropped more after last week’s slightly less dismal May jobs report.

The sudden drop in yields takes place before a closely watched 10Y auction of notes at 1pm today and ahead of key U.S. inflation data due Thursday.

While Bloomberg claims that there was no clear catalyst for the latest move lower, “suggesting a potential shift by the market’s large short base ahead of the U.S. data and a European Central Bank meeting Thursday”, Rabobank suggests that the move is “related to the headline that talks between President Biden and Republicans over his proposed infrastructure spending bill have collapsed. Recall that on matters of spending in the US, “The President proposes, and Congress disposes”. And that with the Senate 50-50, and Democratic senators Manchin and Sinema opposed to using Budget Reconciliation to ram stimulus through, and to the removal of the Senate filibuster to allow stimulus to proceed on a straight up-down vote, there is no way that this spending can happen – unless something changes.”

As Rabo’s Michael Every explains, “this implies that while inflation pressures will still rise from here near-term because of the ongoing Bullwhip Effect, they will then decline again further out. Indeed, this bullwhip is bearish for the real economy if you caught the surprise drop in German industrial production yesterday, where key auto output fell sharply even as demand spiked.”

What little hope TSY shorts have remains in getting an even bigger than expected CPI surge tomorrow, however, has likely been priced in by now: “I don’t think even a slightly stronger number changes the narrative too much for the June Fed meeting, which is one where they will start to talk about talking about tapering,” wrote NatWest Markets strategist John Briggs in a note this week about the upcoming data.

The drop in yields was not confined to the U.S., with German bunds also sliding to the most negative level in a month.

“Rates markets appear remarkably robust,” said ING strategists including Antoine Bouvet. “It is clear that the market is pricing in the extension of the ECB’s accelerated asset purchase pace as a base case.” The ECB’s pandemic bond-buying program targets around 20 billion euros ($24 billion) a week.

end

Morning trading

 
ii) Market data
The repo market is badly broken as the emergency Fed O/N reverse repo sees 1/2 trillion in cash absorbed.
(zerohedge)

With Fed’s Reverse Repo Hitting Half A Trillion, Wall Street Scrambles To Figure Out What Comes Next

 
WEDNESDAY, JUN 09, 2021 – 11:46 AM

With usage of the Fed’s overnight reverse repo facility again hitting a new record high on Tuesday, rising to an all-time high of $497.4 billion…

… rates traders are trying to decide if the Fed will tweak the rate on either the IOER (Interest on Excess Reserves) or the Reverse Repo Facility, collectively the Fed’s “administered rates” in order to ease the liquidity congestion that has parked half a trillion dollars at the Fed where it is sitting inert, doing nothing.

One strategist who believes there is a “small chance” the Fed will adjust its IOER/RRP rate is Deutsche Bank’s Steven Zeng, who also cited concern about the quarter-end balance sheet squeeze, which is less than the futures market is currently pricing.

As a reminder, the Fed’s ongoing $120BN in monthly QE and Treasury’s continued drawdown of its cash balance, create permanent reserves that are sitting on bank balance sheets.

At the same time, demand for deposits adds to the bloat and forces banks to supply these liabilities and hold lower-yielding assets.

This puts downward pressure on banks’ supplementary leverage ratios, so now institutions must either raise capital or reduce loans. In this context, the Fed’s RRP acts as a “release valve” for deposits to leave banks’ balance sheets via inflows into money funds, which are then deposited at the facility.

According to Zeng, and as we have explained previously, the main merit of raising the RRP rate is to make money funds a “more attractive option to bank deposits,” which can allow institutions to push out more deposits and better manage their balance-sheet size until a “more permanent change to bank capital rules is made.”

Currently, money-market yields are low and their margins are squeezed, so a boost to the RRP rate would make money funds a “more attractive option than bank deposits,” allowing more cash to leave the banking sector. Separately, JPMorgan writes that most money-market funds have not reached their counterparty limits at the Federal Reserve’s overnight reverse repurchase agreement facility so they may not have to adjust their thresholds at the moment.

Of course, one can’t have an increase in one rate without the other, since in the fed funds market, lenders who have access to the RRP will demand higher rates, but borrowers may respond with reduced demand leading to a “more erratic fed funds rate.” This means an increase in the RRP rate “needs to be accompanied by an equal or larger increase to the IOER.”

Zeng conveniently summarizes the costs and benefits of an administered rate tweak in the table below:

On the other end of the spectrum are Jefferies economists Thomas Simons and Aneta Markowska who pointed to recent rise in yields at Treasury bill auctions in anticipation of potential Federal Reserve adjustments to its adminstered rates, but according to the duo, “the rise could compel the central bank to stay put.” (earlier this week, the Treasury sold 3-month bills at 0.025% and 6-month bills at 0.04%, which were both the highest stopout yields since April 19).

Simons and Markowska explain the reflexive paradox as follows: “concerns about an IOER hike are preventing yields from falling any further, despite the huge amount of cash looking for a home in the front-end.” As a result, “perversely, this concern may actually prevent an IOER hike, should yields continue to hover at these levels.”

Another paradox: the two conclude that “it is hard to see the Fed judging that there is ‘undue pressure’ on the front-end even” even as the Fed reverse repo is expected to rise above $500 billion today.

So what does the market think? Well, according to Curvature’s repo guru Scott Skyrm, as of this moment the market does not appear to be expecting an IOER hike by the Fed next week, meaning that consensus expected Powell & Co. to do nothing to ease the record liquidity parked at the Fed.

As the Curvature strategist wrote in a Tuesday note, “the market is pricing two things from the Fed. First, it’s pricing the first tightening in 2023 – according to the fed funds futures contracts [graph upper right]. Too far out to even guess the month! Second, the market is pricing the GC/fed funds spread to gradually narrow over the next year. Whereas GC is averaging between 5 and 6 basis points below fed funds now, it’s expected to trade flat to fed funds within a year.”

As Skyrm concludes, “there are only two possible Fed “technical adjustments” that can raise Repo rates: QE tapering and an RRP rate increase. An increase in the IOER would raise both fed funds and Repo GC, so we could say the market is NOT pricing an IOER increase.

One final reason why the Fed is almost guaranteed to do nothing to administered rates and allow the liquidity glut to keep rising is that as the Fed’s new whisperer at the WSJ, Michael Darby wrote yesterday “Fed Is Fine With Reverse Repos Nearing Half a Trillion ” in which he wrote:

Many market participants have looked at the reverse repo activity with some unease. Financial firms have been willing to take the zero percent the Fed offers them through the facility in large part because there are few other short-term investments available, and in some cases, these private market investments actually cost money to invest in. That makes the Fed’s zero percent repo rate attractive on a relative basis.

“The system is working exactly as designed,” New York Fed President John Williams said in a video interview on Yahoo Finance last Thursday. The reverse repo facility, he added, is “working really well and the fact that funds are flowing between the banking system and our overnight reverse repos, this is kind of how we would expect that to happen” given the level of money coursing through short-term markets.

The growing use of the reverse repo facility follows Lorie Logan, who manages the Fed’s massive $7.9 trillion holdings of cash and securities, having said recently that the central bank would rely on it more and expand the number of firms that could access it. The timing of that shift lined up with the wall of cash that started flowing to the Fed.

What is happening at the reverse repo facility doesn’t have much of a broader economic impact. Meanwhile, central bankers have become confident enough in the general health of financial markets to debate pulling back on their $120 billion a month in bond buying stimulus.

But as confident as the NY Fed’s career academic head, Williams, is, some expert market participants are anxious. “That amount of cash flowing into the Fed is not healthy for the repo market,” said the abovementioned Scott Skyrm; He thinks the Fed needs to scale back its bond purchases, which he deemed the “most obvious and most effective way to bring cash back into the market” and out of the Fed’s balance sheet.

Alas, it now appears that won’t happen. And so, with the Fed facility set to keep rising, the question is will we hit $1 trillion in inert liquidity at the Fed before the Fed does agree that someone is wrong, or will an amount of cash greater than the market cap of bitcoin and ethereum remain frozen inside some Fed server…

iii) Important USA Economic Stories

This is Bipartisan:  legislation to counter and compete with China…..a little too late

(zerohedge)

Senate Passes Sweeping Bipartisan Legislation To Counter And Compete With China

 
TUESDAY, JUN 08, 2021 – 08:45 PM

In a rare show of bipartisan solidarity in the deeply polarized US Congress, the Senate came together on Tuesday to pass sweeping $250 billion legislation designed to strengthen Washington’s hand in its escalating geopolitical and economic competition with China. The bill touches on nearly every aspect of the nations’ complex relationship, including semiconductors, Taiwan, Xinjiang and the 2022 Winter Olympics.

In a 68 to 32 vote, the 2,400-page US Innovation and Competition Act of 2021 brought together a coalition of progressives, moderates and conservatives who, despite their intense disagreements on virtually every other policy issue, were united in their view the Chinese government under the rule of Xi Jinping has become a threat to global stability and American power.

“The world is more competitive now than at any time since the end of the second world war,” Senate majority leader Chuck Schumer, a New York Democrat, said on the Senate floor moments before the vote. “If we do nothing, our days as the dominant superpower may be ending.”

“This bill could be the turning point for American leadership in the 21st century, and for that reason, this legislation will go down as one of the most significant bipartisan achievements of the US Senate in recent history.”

The bill includes about $250 billion worth of spending, and touches on nearly every aspect of the complex and increasingly tense relationship between Washington and Beijing.

According to SCMP, it includes billions of dollars to increase American semiconductor manufacturing, a sign of growing urgency in Washington that the US has become dangerously reliant on Chinese supply chains. It bans American officials from attending the 2022 Beijing Winter Olympics over human rights concerns, and declares Beijing’s policies in China’s far-west Xinjiang region a genocide, echoing the position of the US State Department and multiple parliaments around the world.

Some US$2 billion of spending would be earmarked solely as incentives “to solely focus on legacy chip production to advance economic and national security interests, as these chips are essential to the auto industry, the military, and other critical industries”.

The bill also contains a range of provisions meant to strengthen US ties with Taiwan and US military alliances in the Pacific, including the Quad, a quasi-formal pact between the US, Australia, India and Japan, as well as others to crack down on Chinese influence on US campuses, in international organizations and online.

“This is an opportunity to compete with China at the research level,” Senator Roger Wicker, a Tennessee Republican, said before the vote. “This bill will strengthen our country‘s innovation in key technology fields of the future, areas such as artificial intelligence, robotics, quantum computing and communications, and this bill also is a game changer in terms of giving universities all over the United States an opportunity to participate in game-changing research.”

The legislation also authorises new sanctions on Chinese officials for a range of crimes, including cyberattacks, intellectual property theft and, in Xinjiang
– where human rights groups cite United Nations reports and witness accounts that as many as 1 million Uygurs and other Muslim minorities are held in “re-education camps” – against perpetrators of “systematic rape, coercive abortion, forced sterilisation or involuntary contraceptive implantation policies and practices”.

Beijing has repeatedly denied the allegations of human rights abuses in Xinjiang and insists that the camps are vocational training facilities.

Now the issue shifts to the House of Representatives, which has already begun considering a number of China-related bills, the largest being the Eagle Act. Eventually, if the House passes its own legislation, the two chambers will have to reconcile any differences in their respective bills before they can send them to President Joe Biden to be signed into law.

Biden has used the US competition with China as justification for a range of domestic and foreign policies, and is almost certain to sign a final bill once it reaches his desk.

For various reasons, including stated concerns about rising US debt and individual amendments not being added to the bill, a handful of the Senate’s frequent critics of Beijing voted against the legislation. They included Republicans Ted Cruz of Texas and Rick Scott of Florida, who said the cost of the legislation was too high despite “the threat [the Chinese government] poses to our national security”.

The Chinese embassy in Washington has yet to issue an official statement.

“I think the bill is important, whether or not we’re talking about the competition with China,” said Elizabeth Economy, a senior fellow at Stanford University’s Hoover Institution. “It’s clear that the United States needs to do more, and I think this is a really important effort and it sends an important message as well.”

“I think there is widespread acknowledgement among both Democrats and Republicans that we need to be smarter and do better in terms of meeting the broad array of challenges that China presents to our political, economic and security interests,” she said. “There‘s a sense that China poses a clear and present danger, if not an existential threat, and that if the US fails to step up and meet this challenge at this particular moment in time, it may not have another opportunity.”

The Senate vote followed months of debate in the chamber. In February, Schumer asked numerous Senate committees to draft China legislation of their own, which he ultimately combined into the expansive bill that passed on Tuesday.

Asked in a Senate Appropriations Committee hearing on Tuesday whether he would support the funding requests in the bill, US Secretary of State Antony Blinken said he would “welcome” the opportunity. “I have to tell you again that we really applaud this initiative,” Blinken said.

“It‘s going to give us new tools, new resources to deal more effectively with the competition, and I very much welcome the opportunity to work closely with you, members of this committee, other relevant committees to put this into practice,” he said.

Democrats on the House Foreign Affairs Committee have already agreed to some changes to the Eagle Act, including adding clearer language calling for a diplomatic boycott of the 2022 Beijing Winter Olympics, Politico reported, citing people involved in the discussions.

END

INFLATION WATCH/North East power prices

The heat wave is forcing millions to crank up air conditioning and this is causing power prices to rise

(zerohedge)

Northeast Power Prices Jump As Heat Wave Forces Millions To Crank Up Air-Conditioning 

 
TUESDAY, JUN 08, 2021 – 07:45 PM

With the latest heat wave subsiding in the northeastern U.S., after several days of dangerously high temperatures above 90 degrees, power prices skyrocketed as tens of millions turned down their thermostats. 

According to Bloomberg, electricity prices in New England tripled on Monday from a year ago. Since the weekend, a heat wave blanketed the Mid-Atlantic and Northeast but will subside by midweek. 

Gary Cunningham, director of market research at Tradition Energy, said energy demands are way “above normal” for this time of year because of increasing air-conditioning use. New England’s grid operator could reach its summer peak in June instead of August, typically the hottest part of summer.

Monday’s highs were 90-95 degrees in the Baltimore–Washington metropolitan area to New York City to Boston. 

Grid operator PJM Interconnection LLC, a regional transmission organization serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia, issued a hot weather alert Monday. PJM requested owners of transmission lines and power plants to delay maintenance. 

On-peak electricity prices for Bloomingdale, Massachusetts, energy prices per megawatt-hour spiked on Saturday, Sunday, and Monday. 

Peak energy prices for New York City also spiked. 

The heat wave is expected to dissipate by mid-week as Mid-Atlantic and Northeast temperatures will be around average or slightly below normal as a cold front rolls in through the weekend. 

 

end

STUDENT LOAN MORATORIUM ENDS THIS OCTOBEER:

(Zerohedge)

40M Americans Bracing For End Of Student Loan Moratorium As Politicians Acknowledge “Unsustainable” Debt

 
TUESDAY, JUN 08, 2021 – 09:45 PM

President Joe Biden is still reportedly mulling whether to cancel up to $10K in student debt per borrower, a plan that, as we have pointed out in the past, would mostly benefit the Democrats’ wealthier, college-educated voters.

In Congress, several plans were kicked around earlier his year before President Biden’s $1.9 trillion stimulus was ultimately passed. But analysts at Goldman Sachs believe a more scaled-down plan is the most likely. With the moratorium on student loan payments set to expire on Oct. 1, a critical headwind that has allowed (mostly middle-class) Americans to bolster their savings substantially.

According to Bloomberg, “there’s an unwelcome side of the return of business-as-usual after the pandemic: They’ll have to start repaying their student loans again.”

“More than 40 million holders of federal loans are due to start making monthly installments again on Oct. 1, when the freeze imposed as part of Covid-19 relief measures is due to run out. It covered payments worth about $7 billion a month, the Federal Reserve Bank of New York estimated. Their resumption will eat a chunk out of household budgets, in a potential drag on the consumer recovery.”

The problem is that even before the pandemic started, Americans were starting to slack on their student loan payments. In a sense, politicians were fortunate when COVID-19 hit, if only because it gave the government cover to impose the moratorium.

Source: Bloomberg

Politicians already recognize that America’s student debt burden is already unsustainable. Of the government’s $1.7 trillion student loan portfolio, almost one-third is unpaid. That $435 billion is comparable to the $535 billion that private lenders lost on subprime mortgages during the 2008 financial crisis.

Repaying is especially difficult when recent graduates are finding trouble earning high wages in the labor market And with the US economy is still 7.6 million jobs short of pre-pandemic levels, many more of them are likely to be out of work now..

Minority borrowers and older borrowers also struggled to keep up with payments before the pandemic.

Source: Bloomberg

And with today’s desperate drop in bitcoin along with several meme stocks, a critical lifeline for retail traders is now in jeopardy. Young people who are already living with their parents because of their onerous student debt are wondering if they’ll soon need to get a second (or, for some, a first).

The notion that college degrees have become an asset with diminishing returns (given the proliferation of low-value Liberal Arts degrees) has started to spread.

Many Democrats like Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez have called for write-offs of $50,000 or more per borrower. Local leaders are pressuring the Biden administration to take action. Even some Republicans have joined the cause, including  Wayne Johnson, the Trump Administration’s first student-aid chief, who said the student-loan system is fundamentally broken. He proposed not just $50K in debt relief, but also a similar sum in tax credits to those who paid off their loans already.

Source: Bloomberg

Of course, none of this will fix the overall system, and instead could encourage students to irresponsibly pile on more education-related debt.

For this reason, Biden has resisted calls to cancel loans via EO. In early April, he asked Education Secretary Miguel Cardona to prepare a memo on the president’s legal authority to cancel debt.

Still, as millions struggle, a few students who spoke with Bloomberg talked about feeling like they’re “in a relationship” with their student debt.

Other steps the government has taken include allowing employers to contribute toward monthly student loan payments as a tax-free benefit. The pandemic relief bill in March last year allowed firms to reimburse employees up to $5,250 annually.

Malia Rivera, a 46-year old marketing executive with Austin, Texas-based Innovetive Petcare, says her employer has partnered with GiftofCollege.com, a platform that bridges automatic payroll deductions to student loans and college savings accounts.

Rivera says she’s made sure to keep up the payments on her own student loan even through the freeze. She says she’s learned after “racking up late fees over the years and navigating the trials and tribulations of career advancement” that automatic deductions as soon as she gets paid are the best route — and it’s helped lower her balance to about $8,000 from $38,000. 

That took time. “I have been in a ‘long-term relationship’ with my student loan,” says Rivera, recalling the initial payment that she made in the first month of her marriage. “My husband is celebrating his 15-year anniversary with me…and my student loan.”

The year-plus loan-payment moratorium was a welcome respite. But the debt for most borrowers is still there. Fortunately, with Dems still in the driver’s seat, it’s likelier than ever a jubilee will arrive eventually – just like reparations –  once all the studies have been finished and the reports are in.

 

end

We need more states to do this;  Texas bans businesses from requiring “vaccine passports”

(Ly/EpochTimes)

Texas Bans Businesses From Requiring “Vaccine Passports”

 
TUESDAY, JUN 08, 2021 – 10:45 PM

Authored by Mimi Nguyen Ly via The Epoch Times,

Texas Gov. Greg Abbott on Monday signed into law a bill to ban government entities and private businesses from requiring proof of vaccination as a condition for service or entry amid the CCP virus pandemic.

“Texas is open 100 percent, and we want to make sure you have the freedom to go where you want without limits,” the Republican governor announced in a video post on Twitter.

The Lone Star state in March ended its statewide mask mandate and allowed all businesses to open at full capacity after having implemented mandates and restrictions due to the pandemic caused by the CCP (Chinese Communist Party) virus.

Abbott announced on Monday with the signing of the legislation that “No business or government entity can require a person to provide a vaccine passport or any other vaccine information as a condition of receiving any service or entering any place.”

The new law SB 968 covers many aspects of the public health disaster and public health emergency preparedness and response. It was approved unanimously in April and was passed by a vote of 146-2 by the state House in May.

Effective immediately, Texas businesses “may not require a customer to provide any documentation certifying the customer ’s COVID-19 vaccination or post-transmission recovery on entry to, to gain access to, or to receive service from the business,” the legislation states. State agencies in charge of different business sectors can require that businesses comply with the new law as a condition to be authorized to conduct business in Texas.

Furthermore, businesses that don’t comply with the law will not be able to enter any state contracts and will be ineligible to receive a grant.

Businesses can still implement their own COVID-19 infection control protocols “in accordance with state and federal law to protect public health.”

Abbott had signed an executive order in April that banned government entities from requiring vaccine passports as a condition to receive services or gain entry to premises. The order included any private businesses that receive public funding. But the executive order did not apply to entirely private businesses, which the new law covers with regard to vaccine passports.

The Carnival Cruise Line said in its latest announcement on Monday that “current CDC [Centers for Disease Control and Prevention] requirements for cruising with a guest base that is unvaccinated will make it very difficult to deliver the experience our guests expect.” Therefore, it said it would be restarting its operations for vaccinated passengers with its cruise ship leaving from Texas’s Port of Galveston on July 3.

The cruise ships “Carnival Sunrise” (L) and “Carnival Vista” (R) part of the Carnival Cruise Line, are seen moored at a quay in the port of Miami, Florida, on Dec. 23, 2020. (Daniel Slim/AFP via Getty Images)

The cruise liner’s decision is in accordance with federal guidelines published by the CDC, which recently stipulated that if cruise liners are to obtain a conditional sailing certificate for simulated (“trial”) voyages amid the CCP virus pandemic, their volunteer passengers must have proof of being fully vaccinated, or written documentation that the passenger has no medical conditions to be at high risk for severe COVID-19 as defined by the CDC’s guidelines.

It is unclear as of Monday how the new law will affect the cruise liner’s plans.

“We are evaluating the legislation recently signed into law in Texas regarding vaccine information,” Carnival spokesperson Vance Gulliksen told the Houston Chronicle in an email. “The law provides exceptions for when a business is implementing COVID protocols in accordance with federal law, which is consistent with our plans to comply with the U.S. Centers for Disease Control & Prevention’s guidelines.”

END

Biden to revamp Trump’s Tik Tok executive order

(zerohedge)

Biden To Revamp Trump’s TikTok Executive Order Amid Biometric Data Controversy

 
WEDNESDAY, JUN 09, 2021 – 10:09 AM

President Biden will revoke a Trump-era Executive Order on Wednesday which sought to ban the social media app TikTok, and will replace it with a new Executive Order that calls for a broader review of several foreign-controlled applications which could pose a security risk to Americans and their data, according to the New York Times.

Details of the new order are contained in a memo circulated by the Commerce Department and obtained by the NYT. It will address several applications, and will “bolster recent actions the Biden administration has taken to curb the growing influence of Chinese technology companies,” per the report.

It is the first significant step Mr. Biden has taken to address a challenge left for him by President Donald J. Trump, whose administration fought to ban TikTok and force its Chinese-owned parent company, ByteDance, to sell the app. Legal challenges immediately followed and the app is still available as the battle languishes in the courts.

Mr. Biden’s order “will direct the secretary of commerce to use a criteria-based decision framework and rigorous, evidence-based analysis to evaluate and address the risks” posed by foreign-operated applications, according to the memo. “As warranted, the secretary will determine appropriate actions based on a thorough review of the risks posed by foreign adversary connected software applications.” -NYT

News of the revamped EO come days after TikTok quietly rolled out a new US privacy policy which allows the Chinese-owned app to “collect biometric identifiers and biometric information from its users’ content.”

Developing…

A good one!  Michael Snyder comments on the huge outsourcing production of virtually everything has brought the USA economy to the brink

(Michael Snyder)

Outsourcing Production Of Virtually Everything Has Brought US Economy To Brink Of Nightmare Scenario

 
WEDNESDAY, JUN 09, 2021 – 06:30 AM

Authored by Michael Snyder via The Economic Collapse blog,

Many of the imbalances that are contributing to the nightmarish shortages that we are currently witnessing are not going to be solved any time soon.  Ever since I started The Economic Collapse Blog, I have been warning that outsourcing the production of just about everything and running massive trade deficits year after year would eventually have very serious consequences down the road.  Well, now we are officially “down the road”, and our incredibly foolish trade policies have put us in a very precarious position.  During the “good times”, being extremely dependent on the rest of the world to make stuff for us wasn’t a problem, but now it is rapidly becoming a national security issue.

For example, without a steady flow of computer chips, our society as it is formulated today simply could not function.  We need computer chips for our vehicles, for the trucks that transport all of our goods, for the farm equipment that produces our food, for the extremely sophisticated equipment in our hospitals and for the millions upon millions of electronic devices that connect to the Internet.

The global chip shortage has been a very painful reminder of how exceedingly dependent we have become on technology, and it has also shown us how unwise it was to outsource production of most of our chips to Asia.

Back in 1990, the United States produced 37 percent of all computer chips in the world.

Today, that number has fallen to just 12 percent.

Business leaders are now pledging to start ramping up production here in the U.S., but that will take an extended period of time, and Intel’s CEO is openly admitting that the current shortage of chips could take “several years” to be resolved…

Intel Corp’s (INTC.O) CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics.

Sadly, there are many other industries where our outsourcing makes us extremely vulnerable.

Did you know that 60 percent of all apple juice that is sold in this country now comes from China?

Taken together, these laws explain why the apple orchards near my hometown disappeared. Nearly 60 percent of the apple juice sold in the United States comes from China, even though most of America has a climate conducive to apple production. The problem is so bad that salmon caught in the United States is shipped to China for processing and then shipped back to the United States for consumption.

There is no reason why we can’t make our own apples.  In fact, weather conditions are ideal for apple growing in much of the nation.

And how hard can it be to gather apples and squeeze the juice out of them?  We should be able to do that here.

But during the “good times”, big corporations discovered that they could make a little bit more profit by outsourcing to China, and so that is what they did.

Over the decades, big corporations have come to dominate food production in America, and this has pushed small family farmers to the brink of extinction

The design of this framework benefits only the largest farmers who have the resources to produce these commodities at scale. For family farmers, the impact has been devastating. The share of each dollar spent on food that winds up in the hands of farmers has fallen from 53 cents in 1946 to 14 cents today, the lowest level ever recorded. Diversified family farms raising a variety of crops and livestock have been replaced by large industrial operations exclusively growing commodities like corn and soy at scale.

This grimness has caused countless family farms to throw in the towel. Since 1980, America has lost 50 percent of its cattle farms, 80 percent of its dairies, and 90 percent of its hog farms. As Benson and Butz threatened, farmers were forced to choose between getting big or getting out. The average size of a farm nearly doubled from 650 acres in 1987 to 1,201 acres in 2012.

As long as relations with China are good, we will be able to get the apple juice, salmon and other food products that we need from them.

However, if relations with China get really sour, all of a sudden there will be a whole bunch of basic things that will be in short supply and that we won’t be able to make for ourselves.

Speaking of China, there is a very serious shortage of shipping containers right now.  And one factor that is making it worse is that we buy far more from China than they buy from us.  So empty shipping containers are stacking up on our side of the Pacific Ocean because there is not enough commercial traffic going back the other way.

Sometimes empty shipping containers are shipped back to foreign ports without anything in them, but this is exceedingly wasteful

Using export data from U.S. Customs and Border Protections compiled by trader intelligence data firm Import Genius, Earther analyzed thousands of U.S. export records marked “empty container” shipped by Thor Joergensen A/S, a supplier based in Denmark whose largest customer is Maersk Logistics.

We found that in 2020, 668,086 empty containers were shipped to foreign ports around the world, 12 times more than in 2019. At the height of this empty container frenzy, in November 2020, 87,000 ghost containers were exported, 87 times more than at same time in 2019.

Another shortage that is weighing heavily on the U.S. economy is the worker shortage.  Even though employment is still way, way below pre-pandemic levels, millions of Americans have decided that they simply do not want to go back to work because of the generous government benefits that they are now bringing in.

As a result, we are now facing a serious worker shortage, and the U.S. Chamber of Commerce says that it is “getting worse by the day”

“The worker shortage is real — and it’s getting worse by the day,” US Chamber of Commerce President and CEO Suzanne Clark said.

Most big corporations can easily pay more to bring in new workers, but many small businesses that are barely scraping by cannot afford to shell out higher wages.  Along with other factors such as widespread shortages and higher commodity prices, this is creating a “perfect storm” that threatens to force many more small businesses to shut their doors.  In fact, one recent survey found that 35 percent of all small businesses in America are “at risk of closing permanently by the end of the summer”

As small businesses complain that it has never been harder for them to hire workers according to a recent NFIB survey, many are facing growing pressure to survive. As the American economy continues to reopen, some fear it might not happen soon enough to save thousands of small businesses. Data from Alignable’s June Revenue Poll shows that 35% of all small business owners are still at risk of closing permanently by the end of the summer.

Among the 3,772 small business owners in the 10 days ended June 1, Alignable’s June Revenue Poll showed a myriad of factors – including the remaining closures and restrictions, growing inflationary pressures on prices, rising gas and transportation prices and labor shortages – are creating problems that affect small businesses more intensely than their corporate partners.

The U.S. economy has proven to be quite resilient, but the extreme imbalances that we are witnessing now threaten to cause immense damage in the months ahead, and they won’t be solved any time soon.  In fact, I believe that our economic challenges will soon escalate dramatically.

Before I end this article, I want to take a moment to acknowledge the passing of Robert Wenzel.  He was an important voice for liberty, and I always enjoyed his commentary on The Economic Policy Journal.

So many people have been dying lately.  Robert was only 63, and he will be missed.

It has been said that life is like a coin.  You can spend it any way that you want, but you can only spend it once.

Be sure to spend your life on something that really matters.

*  *  *

END

iv) Swamp commentaries/

Thousands of pristine Biden ballots; no creases on a mail in ballot?

Sperry/RealClear|Investigations.com

Why A Judge Has Georgia Vote Fraud On His Mind: “Pristine” Biden Ballots That Looked Xerox’d

 
WEDNESDAY, JUN 09, 2021 – 12:05 AM

Authored by Paul Sperry via RealClearInvestigations.com,

When Fulton County, Ga., poll manager Suzi Voyles sorted through a large stack of mail-in ballots last November, she noticed an alarmingly odd pattern of uniformity in the markings for Joseph R. Biden. One after another, the absentee votes contained perfectly filled-in ovals for Biden — except that each of the darkened bubbles featured an identical white void inside them in the shape of a tiny crescent, indicating they’d been marked with toner ink instead of a pen or pencil.

Adding to suspicions, she noticed that all of the ballots were printed on different stock paper than the others she handled as part of a statewide hand recount of the razor-thin Nov. 3 presidential election. And none was folded or creased, as she typically observed in mail-in ballots that had been removed from envelopes.

In short, the Biden votes looked like they’d been duplicated by a copying machine.

“All of them were strangely pristine,” said Voyles, who said she’d never seen anything like it in her 20 years monitoring elections in Fulton County, which includes much of Atlanta.

She wasn’t alone.

At least three other poll workers observed the same thing in stacks of absentee ballots for Biden processed by the county, and they have joined Voyles in swearing under penalty of perjury that they looked fake.

Now election watchdogs have used their affidavits to help convince a state judge to unseal all of the 147,000 mail-in ballots counted in Fulton and allow a closer inspection of the suspicious Biden ballots for evidence of counterfeiting. They argue that potentially tens of thousands may have been manufactured in a race that Biden won by just 12,000 votes thanks to a late surge of mail-in ballots counted after election monitors were shooed from State Farm Arena in Atlanta.

“We have what is almost surely major absentee-ballot fraud in Fulton County involving 10,000 to 20,000 probably false ballots,” said Garland Favorito, the lead petitioner in the case and a certified poll watcher who runs VoterGa.org, one of the leading advocates for election integrity in the state.

He said the suspect ballots remain in the custody of the election officials and inaccessible from public view.

“We have confirmed that there are five pallets of shrink-wrapped ballots in a county warehouse,” Favorito said in an interview with RealClearInvestigations.

He and other petitioners were ordered to meet at the warehouse May 28 to settle the terms of the inspection of the absentee ballots. But the day before the scheduled meeting, the county filed a flurry of motions to dismiss the case, delaying the inspection indefinitely.

“We will be in court on June 21 to resolve these motions,” said Favorito, calling them another “roadblock” the county has tried to throw in their way. He expects talks over the logistics of the inspection to resume after the Fourth of July holiday.

As part of his May 21 order, Superior Court Judge Brian Amero requested officials guard the warehouse around the clock until an inspection date can be set. But just eight days later, a breach in security was reported after sheriff’s deputies left their post for a couple of hours.

“The front door was [found] unlocked and wide open in violation of the court order,” Favorito said.

County officials confirmed that a motion-detection alarm was triggered Saturday, May 29, shortly after the deputies drove away from the building in their patrol cars around 4 p.m. But they said a locked room where the ballots are kept “was never breached or compromised.”

Favorito is not convinced, and his lawyer is seeking to obtain the video footage from building security cameras. “How do we know for certain there was no tampering with the ballots?” asked Favorito, who said he did not vote for Trump. News of the security lapse caught the attention of former President Trump, who has claimed his loss to Biden was marred by fraud. In a statement, he implied election officials in the Democratic-controlled county are trying to hide evidence of fraud.

“They are afraid of what might be found,” he asserted.

Trump is also closely monitoring the ongoing election audit in Arizona, another red state that turned blue in 2020. If evidence of fraud is found in these key swing states, it might help confirm suspicions the election was “stolen” from Trump and the 74 million who voted for him — as a recent poll found 61% of Republicans believe — as well as provide the proof of voter fraud that Democrats and major media have long claimed doesn’t exist.

The cases could potentially give other battleground states incentive to take steps to tighten election security and root out fraud, including passing legislation to limit the use of controversial mail-in drop boxes and require the verification of signatures on such ballots. In Georgia, relatively few mail-in ballots were rejected for invalid signatures in the November general election, even though several thousand had been disqualified for signature issues in the primary election.

In a move that inspired national boycotts alleging voter “suppression,” Georgia recently passed a law limiting, but not removing, the drop boxes. The state had installed them for the first time in 2020 under pressure from Democratic groups, who argued officials needed to make voting easier for minorities who didn’t trust the mail and feared going to the polls during the COVID scare.

The 38 drop boxes Fulton distributed throughout the county in the November election will be cut to eight in the future. The boxes had been largely unregulated and unattended — located outdoors, open 24 hours a day and available for drop-offs until the evening of Election Day, prompting complaints of ballot stuffing and double voting. But now they have to be located inside election offices or early voting locations, and can only be available during the hours when early voting is permitted. The new law also requires ballots be printed on special security paper.

Voting by mail traditionally was limited to voters who had clearly defined and well-documented reasons to be absent from the polls. But Democrats in key swing states lobbied to relax the rules in the middle of the election and amid the coronavirus pandemic.

Mail-in or drop-off ballots create opportunities for voter error and fraud. In a typical election, one in 20 mailed ballots are rejected, according to recent studies. More than 534,000 mail-in ballots were rejected during the 2020 Democratic primaries alone.

Still, both Republican and Democratic officials in Georgia say they have found no credible evidence of widespread fraud in the general election. Democrats, as well as many major media outlets, have written off Favorito’s group’s allegations of fraud as “conspiracy theories.”

“This is nothing more than a circus that’s being put on by those who promote the ‘big lie’ ” that Trump won the election, said Robb Pitts, the Democratic chairman of the Fulton County Board of Commissioners.

“Where does it end? The votes have been counted. The elections have been certified. It’s over.”

Pitts effectively controls the county elections board through his Democratic appointee Mary Carole Cooney, who runs the board. They are in charge of securing the pallets of disputed Biden mail-in ballots awaiting inspection in the county warehouse.

But Judge Amero, who federal elections records show is a Democratic donor, felt compelled to unseal the ballots for a forensics review after reading the sworn affidavits submitted by election monitors. Here are key witnesses in the case:

Suzi Voyles, a veteran Fulton poll manager who audited the Nov. 14 recount at Georgia World Congress Center, testified she examined several stacks of ballots of about 100 ballots each from a cardboard box marked “Box No. 5 — Absentee — Batch Numbers 28-36.” She said these ballots “came from the ballot [drop] boxes that had been placed throughout Fulton County.”

“Most of the ballots had already been handled; they had been written on by people, and the edges were worn. They showed obvious use,” she wrote in her Nov. 17 affidavit. “However, one batch stood out. It was pristine. There was a difference in the texture of the paper,” and these mail-in ballots hadn’t been folded even though they ostensibly had been removed from envelopes.

All but three of the 110 ballots in the bundle — which had been labeled “State Farm Arena” — were marked for Biden and appeared to be “identical ballots.”

The most “alarming peculiarity” was the identically marked ovals next to Biden’s name. In every ballot, “The bubble next to ‘Joseph R. Biden’ had a slight white eclipse in the bubble,” she said, leading her to believe that the batch of 107 Biden ballots had been “copied” from a single ballot.

Voyles speculated that “additional absentee ballots had been added [for Biden] in a fraudulent manner” at the State Farm Arena in Atlanta on election night.

The void she and other auditors witnessed in the exact same spot of the oval filled in on 107 ballots for Biden “was alarming to us,” Voyles said in an RCI interview. “Every single bubble was precisely alike. I had never seen that before in 20 years” of election monitoring.

But when she and other recount workers raised concerns with county election officials, “we were told not to worry about it,” she said. “They seemed uninterested in the [integrity of the] ballots.”

After Voyles later blew the whistle in affidavits and state election hearings, she was fired as a poll manager by the Fulton County Department of Elections. “I got the boot for speaking the truth,” she told RCI.

Robin Hall, a certified Fulton County recount observer, also testified she witnessed a number of boxes of absentee ballots marked “100% for Biden” that appeared to be “perfectly filled out as if they were pre-printed with the presidential candidate selected.” She stated: “They did not look like a person had filled this out at home.  All of them looked alike.”

Judy Aube also worked at the World Congress Center on Nov. 14 where she observed the same thing: “suspicious batches” of mail-in ballots for Biden whose markings appeared identical, as if they had been duplicated by a machine and not filled out by a voter at home.

Barbara Hartman, another election official auditor, also doubted the authenticity of absentee ballots she handled that she said were never folded, as would normally be the case for ballots returned in an envelope by mail or dropped in a box. “The absentee ballots looked as though they had just come from a fresh stack,” she swore in her affidavit. “I could not observe any creases in the ballots and [it] did not seem like they were folded and put into envelopes or mailed out.”  Also, “The majority of the mail-in ballots that I reviewed contained suspicious black perfectly bubbled markings for Biden,” Hartman stated, adding that “they looked as if they were stamped.”

The veteran poll watchers found no plausible explanation for the anomalies other than possible fraud.

However, election officials have offered an explanation for why the mail-in ballots examined in the stacks did not have folds or creases. They say ballots are sometimes copied onto other paper when they are too damaged to be fed through one of the scanning machines during tabulation. The mailed ballots can be torn or crumpled by postal workers during delivery or by poll workers while opening them and removing them from envelopes, which could prevent the machines from reading them.

From controversial video at State Farm Arena, Atlanta, showing ballots being pulled from under tables. WSB-TV/YouTube

But Favorito suspects the hundreds, if not thousands, of allegedly duplicate absentee ballots for Biden might be connected to spikes in votes for Biden he observed late on election night in Fulton County after election officials cleared monitors from State Farm Arena and pulled cases full of ballots out from under tables and began scanning them.

“There’s always the chance it was an inside job,” said Favorito, a career IT professional who’s been a leading advocate for Georgia election integrity over the past two decades.

On Nov. 3, Fulton County elections officials informed monitors that they were shutting down the State Farm tabulation center before midnight, only to continue counting throughout the night while no one was watching.

“Election workers don’t bring ballots in after the supervisor has delayed processing until the morning, hide them under a table and then bring them out for scanning and tabulation after the supervisor tells [monitors] they are done scanning for the evening and they go home,” Favorito said.

“Once scanning [was] completed, an election line feed showed an unprecedented vote spike that turned the election in favor of Biden,” he added. In fact, “just over a half hour after workers scanned the potentially fraudulent ballots, an election line feed showed a 100,000-plus vote spike for Biden.”

“Where did those ballots come from and why did they handle them so suspiciously?” Favorito asked.

Voyles noted that the county elections supervisor who oversaw the secret scanning of the cases full of ballots also helps run the warehouse where the suspect ballots are being stored.

Phone calls and emails to Fulton County went unanswered.

Similar Anomalies, Other Counties

Favorito pointed out that the potential for counterfeit ballots exists in other Georgia counties, not just Fulton.

In fact, two Democrat poll workers blew the whistle on similar anomalies they witnessed in neighboring DeKalb and Cobb counties, where the election process also is controlled by Democrats.

Carlos E. Silva, for one, declared in a Nov. 17 affidavit that he observed a similar “perfect black bubble” in absentee ballots for Biden during the recount he worked in DeKalb County. And while overseeing the Cobb County recount, he swore he “observed absentee ballots being reviewed with the same perfect bubble that I had seen the night before in DeKalb. All of these ballots had the same characteristics: they were all for Biden and had the same perfect bubble.”

Added Silva, a registered Democrat: “There were thousands of [mail-in] ballots that just had the perfect bubble marked for Biden and no other markings in the rest of the ballot.”

Another registered Democrat, Mayra Romera, testified that while monitoring the Cobb County recount, she noticed that “hundreds of these ballots seemed impeccable, with no folds or creases. The bubble selections were perfectly made … and all happened to be selections for Biden.”

In a recent article pooh-poohing complaints of fraud in Georgia, as well as Arizona, the New York Times portrayed Favorito as “a known conspiracy theorist” and suggested he was a 9/11 truther. As evidence, it cited a 2002 book he published “questioning the origin of the attacks of Sept. 11, 2001.”

Asked about it, Favorito responded: “My book did not propose any theories on what happened on 9/11. I don’t mention anything about explosives” planted in the World Trade Center, as truthers have baselessly speculated. Rather, he said, he questioned Bush family business connections with the bin Laden family and other wealthy Saudis, and argued that the war on terror benefited the Bushes. He also faulted the Bush administration for “obstructing” FBI investigations into the attacks.

Favorito says he is a “constitutionalist” and neither a Republican nor a Trump supporter.

end

 

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

Websites back online after Fastly-linked glitch takes down internet
Thousands of government, news and social media websites across the globe were coming back online Tuesday after getting hit by a widespread hour-long outage linked to U.S.-based cloud company Fastly.
    High traffic sites including Reddit, Amazon, CNN, Paypal, Spotify, Al Jazeera Media Network and the New York Times went down, according to outage tracking website Downdetector.com. They came back up after outages that ranged from a few minutes to around an hour…
https://www.reuters.com/business/media-telecom/finiancial-times-new-york-times-bloomberg-news-websites-down-2021-06-08/

ESMs sank from 6:11 ET until 6:32 ET on the global website malfunction.  They rebounded sharply and hit a session high of 4236.75 at 8:24, abetted by the usual pump & dump buying by pros for the expected  guppy buying on and after the NYSE open.  When the NYSE opened, ESMs and stocks sank.  Eventually, ESMs lost 31 handles.  They bottomed 11 minutes before the European close.

The typical manufactured rally for the European close morphed into a ‘V’ rally as traders once again tried to get Big Mo going for the upside breakout that has been attempted since early April.  ESMs and stocks were inert from 12:07 ET until the last-hour manipulation.  Alas, only a 3-handle rally over 25 minutes occurred.  With 40 minutes remaining, ESMs and stocks rolled over and sank into the close.  The afternoon rally that closed WTI oil above $70 weighed on stocks.  Is this transitory, Jerome?

We have noted repeatedly over the past few weeks that the S&P 500 Index has been largely flat since early April.  Traders keep trying to breakout stocks to the upside to no avail.

@zerohedge: “recent realized S&P 500 volatility has been remarkably low with 10-day realized at 7.2 – below the 10th percentile since 1970 ” – Goldman

During the latter part of the first hour of NYSE trading on Tuesday, the Put/Call Ratio was only 38 – 38 puts per 100 calls bought.  This is an indication of extreme bullishness.

@ScottNations: AMC closed at $55. Those $145 strike calls expiring on July 16 traded 8,295 times and closed at 8.95.

AMC, Other Meme Stocks Turn Options Market Upside Down
Flurry of activity in meme-stock options underscores investors’ fear of missing out on surges
    Traders last week spent $11.6 billion on options contracts tied to AMC, more than on the SPDR S&P 500 ETF Trust, Invesco QQQ Trust and Tesla Inc. combined..
https://www.wsj.com/articles/amc-other-meme-stocks-turn-options-market-upside-down-11623144602

JOLTS Job Openings jumped to a record 9.3m in April from 8.288m.  8.2m was consensus.

BLS: JOB OPENINGS AND LABOR TURNOVER – APRIL 2021
In April, the number of hires changed little at 6.1 million… the number of total separations increased to 5.8 million (+324,000)… the quits level and rate increased to series highs of 4.0 million and 2.7 percent, respectively…  https://www.bls.gov/news.release/pdf/jolts.pdf

@GretaLWall: Small business optimism falls for first time in 4 months amid labor shortage.  @NFIB optimism index slipped 0.2pts in May to 99.6.  93% of respondents who were hiring in May said they had few or no qualified applicants.  43% of owners plan to raise prices in the next 3 months.

Chipotle Says It Increased Prices 1.5%-4% across Menu Last Week – BBG [Is this transitory, Jerry?]

Former Fed Vice Chair Donald Kohn Worries Inflation Risks Are Rising
https://finance.yahoo.com/news/former-fed-vice-chair-donald-180721220.html 

Let us close us Wednesday’s report with this offering courtesy of Greg Hunter talking with Dane Wigington
(Greg Hunter/Dane Wigington)
 
Climate Engineering Causing Drought & Earthquakes – Dane Wigington | Greg Hunter’s USAWatchdog

 

he geniuses that deliberately crashed the US economy have fomented behavioral changes among Americans that will not be transitory.  The changes are not only in production (jobs).  There are some profound changes in consumption that are characteristic of the late ’50s and ‘60s.

There have been beaucoup stories about the change in Americans’ attitudes about working in cities, downtown locales, and at home.  There are fewer stories about the changes in Americans’ attitudes about consumption and prioritizing family time over careers.

Unless one was well healed, Americans seldom ate at fancy restaurants or even fast-food joints until the ‘70s.  With hotdogs now costing as much as $4.75 in Chicagoland joints, eating out is becoming too expensive compared to homecooked meals.  We recently order a 16-piece chicken dinner and two chicken sandwiches from Popeye’s.  The tab was close to $50!!!  We ordered two large chocolate malts from Dairy Queen last weekend.  The cost was over $11!!!! 

Hotdogs were 15 to 20 cents in 1971; McDonald’s burgers were 15 cents; shakes were 20 cents. Shakes at ice cream palaces were 25 cents. The minimum wage was $1.65.  There was NO tax on food. 

The minimum wage would have to soar 20 to 30-fold to match the buying power of Americans 50 years ago.  BTW, box seat tickets at the Cubs and White Sox were $3.  PS – Due to the inflationary surge of 1973-1974, the above listed prices jumped 60% to 80% by the mid-to-late ‘70s.

U.S. Census Bureau (@uscensusbureau): After-tax profits (seasonally adjusted) of U.S. manufacturing corporations totaled $232.0B in first quarter 2021, up $98.5B from the after-tax profits of $133.4B in fourth quarter 2020.
    Sales (seasonally adjusted) of U.S. wholesale trade corporations totaled $784.3B in first quarter 2021, up $74.9B from the sales of $709.4B in first quarter 2020… After-tax profits (seasonally adjusted) of U.S. retail corporations with assets of $50M and over totaled $47.5B in first quarter 2021, up $14.0B from the after-tax profits of $33.5B in fourth quarter 2020. http://go.usa.gov/xRuXj

The Fed Says Inflation Is Transitory, It Has a Vested Interest to Lie
The Fed has been so wrong, in so many ways, for so long, we need to ask some pointed question
https://mishtalk.com/economics/the-fed-says-inflation-is-transitory-it-has-a-vested-interest-to-lie

The Fed Reverse Repo operation hit a record $497.4B yesterday!  Almost $500B with no use!

Fed Is Fine with Reverse Repos Nearing Half a Trillion – WSJ
“That amount of cash flowing into the Fed is not healthy for the repo market,” said Scott Skyrm of money market trading firm Curvature Securities… [Indicates at least $500B in excess, unusable system funds]
https://fixedincome.fidelity.com/ftgw/fi/FINewsArticle?id=202106080544DOWJONESDJONLINE000060
@YahooFinance: A new Alzheimer’s drug is supposed to slow the decline of Alzheimer’s, but “it’s not really a cure,” @anjkhem says. “The cost… that sticker price, that’s shocking people. $56,000 per year per patient, and that’s split up over the intravenous infusions throughout the year.” https://t.co/idB7QbZtgE

NYT: Alzheimer’s Drug Is Bonanza for Biogen, Most Likely at Taxpayer Expense – Despite scant evidence that it works, the drug, Aduhelm, is predicted to generate billions of dollars in revenue, much of it from Medicare…  https://www.nytimes.com/2021/06/08/business/aducanumab-alzheimers-cost.html

Crypto Carnages Wipes $1 Trillion In Wealth as Transactions Tumble to 3-Year Lows
Though it was initially reported that attackers’ Bitcoin wallet had been “hacked,” this was likely not the case.  Instead, an affidavit from the Federal Bureau of Investigation (FBI) suggests that authorities were able to trace the ransomed Bitcoin using a block explorer to a specific address containing 63.7 Bitcoin…
   Still, it would appear that the market is trading as if the Bitcoin network has indeed been hacked, with the top cryptocurrency’s price tumbling…
https://www.zerohedge.com/crypto/crypto-carnages-wipes-1-trillion-wealth-transactions-tumble-3-year-lows

The Colonial Pipeline hack, the Russians, & Bitcoin – here’s what actually happened
The DOJ does appear to have secured the funds, but not in the fashion that it is being advertised…
    Bitcoin is secured through a currently unbreakable cryptographic formula known as a Elliptic Curve Digital Signature Algorithm. You can safely rule out the possibility that the feds broke this form of encryption and were able to pull off this computing power miracle, which is only theoretically possible through the use of quantum computing… The feds did not “hack” a bitcoin wallet in this manner, though they certainly seemed happy to give off that impression, as it sows doubt about the security of the bitcoin network… They did so by obtaining a warrant on a bitcoin wallet or exchange that had servers in Northern California. Yes, you read that correctly. The entity responsible for the ransomware attack did not in fact have custody over their bitcoin. Instead, they were using a custodian for their funds with servers in the United States. Using a custodian for your funds instead of maintaining possession of them is a very basic error, especially for an allegedly sophisticated hacking gang
    The latest events surrounding the Colonial Pipeline drama simply do not square with the narratives coming out of the Biden Administration and its stenographers in the corporate press. We were told this much-hyped hacking group of alleged Russians posed a serious threat to our entire critical infrastructure, yet in the same breath happened to have committed a laughably amateurish bitcoin custody faux pas that allowed for the feds to easily take back possession of the ransom funds..
https://dossier.substack.com/p/the-colonial-pipeline-hack-the-russians

Former Clinton Adviser Naomi Wolf Banned from Twitter Over COVID-19 Vaccine Claims
https://www.theepochtimes.com/former-clinton-adviser-naomi-wolf-banned-from-twitter-over-covid-19-vaccine-claims_3847905.html

@CNBC: The “single biggest piece of evidence” that Covid could have come out of a lab is “the behavior of the Chinese government and what they’ve deliberately chose to withhold and what they’ve shared openly,” @ScottGottliebMD sayshttps://t.co/AY8pppI8xL

Explosive, Unearthed Video Shows Peter Daszak Describing ‘Chinese Colleagues’ Developing ‘Killer’ Coronaviruses… Daszak describes the process of “insert[ing] spike proteins” into viruses to see if they can “bind to human cells” as being carried out by his “colleagues in China”:
   “Then when you get a sequence of a virus, and it looks like a relative of a known nasty pathogen, just like we did with SARS. We found other coronaviruses in bats, a whole host of them, some of them looked very similar to SARS. So we sequenced the spike protein: the protein that attaches to cells. Then we… Well I didn’t do this work, but my colleagues in China did the work. You create pseudo particles, you insert the spike proteins from those viruses, see if they bind to human cells. At each step of this you move closer and closer to this virus could really become pathogenic in people.  “You end up with a small number of viruses that really do look like killers,” he adds…
https://thenationalpulse.com/exclusive/daszak-reveals-chinese-colleagues-manipulating-coronaviruses/

Senator Rand Paul @RandPaul: Great news!  Cleveland clinic study of 52,238 employees shows unvaccinated people who have had COVID 19 have no difference in re-infection rate than people who had COVID 19 and who took the vaccine.

Who Loses When the China Bat Cave Implodes? – The Chinese Communist Party knows how high the stakes are if it is found responsible for a deadly lab leak and for keeping that information secret when others could have acted promptly and saved countless lives. Americans will be outraged, as they should be, and Washington will be forced to take serious action
    Here’s a preliminary assessment of the biggest losers.

  1. U.S. firms with large economic stakes in China…
  2. The feckless news media — including the social media giants…
  3. U.S. public health experts, particularly Dr. Anthony Fauci…
  4. Democrats lose because they are both the party of government and the party of science…
  5. Joe Biden is at least slightly damaged because he’s made partisan statements about local decisions on reopening the economy. He has defended restrictions by Democratic governors and called some Republican state elected officials “Neanderthals” because they reopened their economies before he wanted them to do so. Turns out the Neanderthals were right…
  6. China.  The only question is “How big will their loss be and what global repercussions will it have?”  https://www.realclearpolitics.com/articles/2021/06/08/who_loses_when_the_china_bat_cave_implodes.html

[Labor] Secretary @SecMartyWalsh: For nearly a century the Bethlehem Steel plant, now @SteelStacks, was our nation’s second largest steel manufacturer. After shutting down in 1995, the campus was redeveloped into a popular arts & community space.  This is what recovery can look like for former industrial cities.
     @michaeljohns: In 1967, the U.S. manufactured 115M metric tons of steel in a global market of 497M, or 23% of all steel globally. Today, the U.S. manufacturers 88M metric tons in a global market of 1.9B, or 4.6% globally.  @SteelStacks? They put on free concerts.

Biden ends infrastructure negotiations with Republican senators
https://www.cbsnews.com/news/infrastructure-bill-bipartisan-proposal-negotiations/

Today – The usual suspects again failed to breakout stocks to the upside on Tuesday.  They will try again today, barring unexpected bad news – and because May CPI is due tomorrow.  An ugly May CPI would seriously crimp the ability of stocks to breakout to the upside.  The looming May CPI data and the ECB Communique due to tomorrow will keep saner angels and wiser guys on the sidelines today.

A negative technical situation for stocks in coming days would be an upside breakout that quickly fails or reverses to the downside a few days after the breakout.  ESMs are +2.25 at 21:00 ET in very quiet trading.

Expected economic data: April Wholesale Inventories 0.8% m/m

Why a Judge Has Georgia Vote Fraud on His Mind: ‘Pristine’ Biden Ballots That Looked Xeroxed
She noticed an alarmingly odd pattern of uniformity in the markings for Joseph R. Biden. One after another, the absentee votes contained perfectly filled-in ovals for Biden — except that each of the darkened bubbles featured an identical white void inside them in the shape of a tiny crescent, indicating they’d been marked with toner ink instead of a pen or pencil…
    Adding to suspicions, she noticed that all of the ballots were printed on different stock paper than the others she handled as part of a statewide hand recount of the razor-thin Nov. 3 presidential election. And none was folded or creased, as she typically observed in mail-in ballots that had been removed from envelopes.  In short, the Biden votes looked like they’d been duplicated by a copying machine…
https://www.realclearinvestigations.com/articles/2021/06/08/why_a_judge_has_georgia_vote_fraud_on_his_mind_pristine_biden_ballots_that_look_xeroxed_779795.html

 

@charliekirk11: Why is no one talking about the fact that a judge in Fulton County who regularly donates to Democrats signed off on a forensic audit of Georgia ballots after reading sworn affidavits outlining allegations of voter fraud & irregularities?

NYT, MSNBC’s Mara Gay: ‘Disturbing’ to see ‘dozens of American flags’ on trucks in Long Island
She claimed Americans would continue to see things like that until the country was ready to have the conversation about “whiteness,” adding her concern that “a large percentage of Americans” don’t understand the threat that it is… [Gay is a member of the NYT Editorial Board.] https://t.co/ticjt68VSr

The Big Guy has recently binged on issuing charges of ‘systemic racism’ and ‘white supremacy’.

Hunter Biden addressed his white lawyer as ‘n***a’ multiple times, used phrases like ‘true dat n***a’ and bantered ‘I only love you because you’re black,’ in shocking texts unearthed days after Joe’s emotional Tulsa speech decrying racism [Imagine the MSM coverage if this were a Trump son!]  https://www.dailymail.co.uk/news/article-9661781/Hunter-Biden-used-n-word-multiple-times-casual-conversation-text-messages-show.html

Hunter Biden was hired by a Romanian real estate tycoon to overturn his bribery conviction through a massive propaganda campaign with help from VP Joe’s government connections and former FBI director Louis Freeh  https://t.co/UdSogSApNH

‘Justice Must Be Administered Equally’ — Republican Senators Demand Answers For 2020 Riots, Capitol Riot From DOJ – The group… draw parallels between the treatment of the Capitol rioters to the treatment of rioters throughout the spring and summer of 2020 and call for clarifications on punishment… The Republican Senators ask… how many people were arrested for committing crimes during the 2020 spring and summer riots, if federal law enforcement used geolocation data from defendants’ cell phones to track rioters down, how many of the rioters were released on bail and more… https://amp.dailycaller.com/2021/06/07/republican-senators-demand-answers-2020-summer-riots-capitol-riot-department-of-justice-merrick-garland

GOP Sweeps in Texas Races Signal Growing Hispanic Support for the Party
The results in South Texas show that the shift among Hispanics is more than just a response to the personal brand of Donald Trump… the report also admits that criticism of the Left’s stance on crime worked. Economic issues and immigration also mattered. Nuestro PAC, a national Democratic super PAC that targets Hispanic voters, issued a report in March that found the national Democrats’ approach “does not work in the Valley.”  [Trumpism without Trump is the formula!] https://t.co/Pp3hiw1xPo

@AndrewHClark: Cringe. Kamala Harris doesn’t get it. [NBC’s] Holt: “Do you have any plans to visit the border?” Harris: “We’ve been to the border. We’ve been the border.” Holt: “YOU haven’t been to the border.” Harris: “…..and I haven’t been to Europe. I don’t understand the point you’re making.” https://t.co/fFXMf8X0b6

VP Harris Laughs When Asked Why She Hasn’t Visited Southern Border
“And I haven’t been to Europe,” Harris said with a laugh. “And I mean, I don’t understand the point that you’re making. I’m not discounting the importance of the border.”…
https://www.newsmax.com/politics/vice-president-kamala-harris-border-crisis/2021/06/08/id/1024319/

Anyone with a modicum of intelligence knows that Team Biden avoids the border because an official visit would draw the media and unwanted attention to the problem.  PS – Why does Harris incessantly giggle?

Biden throws his clueless vice president under the bus
When Biden announced he was appointing the veep as his immigration czar, he was effectively passing her a grenade whose pin he had already pulled…Harris can’t clean up the mess at the border unless her boss decides to clean up his policy mess — by reinstating some of Trump’s ideas. That’ll probably never happen, but in the meantime, Biden can deflect all questions to his clueless vice president.
https://nypost.com/2021/06/08/biden-throws-his-clueless-vice-president-under-the-bus/

GOP Rep @laurenboebert: [Dem Rep] Ilhan Omar, honorary member of Hamas, just compared the US military with the Taliban. Sadly, it’s not even surprising anymore. We have terrorist sympathizers in Congress and it is being normalized by the MSM.

@CWBChicago: 58 of 63 shooting victims survived this weekend. [Toughest gun laws in the US!]

Police launch an investigation after three women are filmed twerking on top of a cop car in Chicago
    ‘Looks like the Chicago Police Department’s emphasis on ‘positive community interactions’ is taking off! Great to see!’ a jovial tweet with the footage reads…
https://www.dailymail.co.uk/news/article-9662689/Three-women-filmed-twerking-police-car-Chicago-similar-incidents-Seattle-St-Louis.html

 
end
 
Let  us close out tonight with this offering courtesy of Greg Hunter interviewing Dane Wiginton
(courtesy Greg Hunter)
 

Climate Engineering Causing Drought & Earthquakes – Dane Wigington

By Greg Hunter’s USAWatchdog.com

About a month ago, climate engineering researcher Dane Wigington said the severe drought unfolding in the Western United States is only going to get worse.  It has.  Now, large portions of the Western U.S are being hit with earthquakes.  Wigington contends that science shows the rash of earthquakes in the West are linked to climate engineering.  One example is the earthquake in Fukushima in 2011.  The science is backed up by a report from MIT.  Wigington explains, “All this data is extremely verifiable.  The testimony from MIT is extraordinarily damming.  Their words were ‘extremely anomalous heating directly above the epicenter in the days prior to the quake.’ . . . The Fukashima meltdown was not intended, but when you trigger seismic activity on that scale, massive consequences happen. . . . The ability to cause seismic activity with radio frequency microwave transmissions is very well documented scientifically. . . . There is no official source that is willing to discuss this because it is simply too alarming to the population.   The liability issues from decimating food supplies and tripping seismic activity is incomprehensible.  When people find out what is being done to them, I would ahttps://usawatchdog.com/climate-engineering-causing-drought-earthquakes-dane-wigingtonrgue that’s when they take to the streets with their proverbial pitchforks and torches to look for anyone and everyone involved.”

The so-called “Mega-Drought” in the Western U.S is being caused by climate engineering.  Wigington says, “We know conclusively that in the case of cutting off the flow of moisture in the U.S. West is absolutely the result of climate engineering operations—period. . . . They are cutting off the food supply. . . .Food supply is collapsing. . . .We have climate engineering completely derailing crop production, and it’s not just in the U.S. West, but in multiple locations around the world.”

Wigington points out that Europe is in a severe drought “that is worse than anything in the last 2,100 years,” and yet very little is being reported about it.  He says this, too, is a product of climate engineering.

Wigington says great public awareness is what is needed to stop what is being done to the planet with climate engineering.  Wigington says, “This is a very direct fight for life . . . . Going back to how we started this interview, the decimation of our food supplies is going to be very visible in the coming weeks and months.  No matter what other challenges we face, if we don’t deal with this one, the planet’s life support systems right down to our food supply, nothing else will matter.  This needs to be seen by our military brothers and sisters.  They need to understand that they are waging all-out weather and biological warfare against their own populations.  That’s a fact.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with climate researcher Dane Wigington, founder of GeoEngineeringWatch.org.

(To Donate to USAWatchdog.com Click Here)

 

Climate Engineering Causing Drought & Earthquakes – Dane Wigington

I WILL SEE  YOU THURSDAY NIGHT

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