JULY12//GOLD DONW $4.55 TO $1805.70//SILVER UP 3 CENTS TO $26.17//GOLD STANDING AT THE COMEX UP TO 4.04 TONNES/SILVER STANDING DOWN TO 32.655 MILLION OZ//CORONAVIRUS UPDATES/VACCINE UPDATES///DR MCCALLAUGH INTERVIEW A MUST VIEW//SOUTH AFRICA IN TOTAL CHAOS AS LOOTING AND SHOOTING IN BOTH DURBAN AND J’BURG//PLATINUM PALLADIUM AND IRIDIUM RISE AS SOUTH AFRICA IS THE DOMINANT PRODUCER OF THESE METALS// CHINA VS USA: QUITE A FEW IMPORTANT STORIES// HUGE FOREST FIRES RAGING SOUTH OREGON AND THREATENING CALIFORNIA//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1805.70 DOWN $4.55  The quote is London spot price

Silver:$26.17  UP 3 CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1806.00 LONDON SPOT  4:30 pm

ii)SILVER:  $26.18//LONDON SPOT  4:30 pm

 

 

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

 

 

PLATINUM  $1122.58  UP $24.02

PALLADIUM: $2857.11  UP $51/55  PER OZ.

 

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  40/123

EXCHANGE: COMEX
CONTRACT: JULY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,810.000000000 USD
INTENT DATE: 07/09/2021 DELIVERY DATE: 07/13/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 10
624 C BOFA SECURITIES 4
624 H BOFA SECURITIES 50
657 C MORGAN STANLEY 3
661 C JP MORGAN 92 40
732 C RBC CAP MARKETS 1
737 C ADVANTAGE 14 13
880 C CITIGROUP 13 2
905 C ADM 4
____________________________________________________________________________________________

TOTAL: 123 123
MONTH TO DATE: 1,095

 

ISSUED:  95

Goldman Sachs:  stopped: 10

 
 

NUMBER OF NOTICES FILED TODAY FOR  JULY. CONTRACT: 123 NOTICE(S) FOR 12,300 OZ  (0.3825 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  1095 FOR 109,500 OZ  (3.405 TONNES)

 

SILVER//JULY CONTRACT

15 NOTICE(S) FILED TODAY FOR 75,000  OZ/

total number of notices filed so far this month 5872  :  for 29,360,000  oz

 

BITCOIN MORNING QUOTE  $33,891 UP 3891  DOLLARS FROM SATURDAY MORNING/ UP $659 FROM FRIDAY NIGHT 

 

BITCOIN AFTERNOON QUOTE.:$32,756 UP $2756 DOLLARS FROM SATURDAY////DOWN $476 FROM FRIDAY.

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  DOWN $4.555 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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 WHEN CALLING IN THEIR LEASES: THE GOLD NEVER LEAVES THE BANK OF ENGLAND IN THE FIRST PLACE. THE BANK IS PROTECTING ITSELF IN CASE OF COMMERCIAL FAILURE

THIS IS A MASSIVE FRAUD!!

GLD  1040.19 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 3 CENTS

 A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/ A PAPER WITHDRAWAL OF 926,000 OZ FROM THE SLV// 

 

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

THE SILVER WITHRAWALS 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 VAULT. THEY ARE CALLING IN THEIR LEASES FOR FEAR OF SOLVENCY ISSUES.

INVENTORY RESTS AT: 

 

555.150  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 169.03 DOWN $0.18 OR 0.11%

XXXXXXXXXXXXX

SLV closing price NYSE 24.29 UP $0.10 OR 0.41%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Let us have a look at the data for today

THE COMEX OI IN SILVER FELL BY A  STRONG SIZED 1376 CONTRACTS  TO 153,632, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR  $0.19 GAIN IN SILVER PRICING AT THE COMEX  ON FRIDAY . IT SEEMS THAT THE LOSS IN COMEX OI IS PRIMARILY DUE TO MASSIVE BANKER AND ALGO  SHORT COVERING AS OUR BANKER FRIENDS ARE GETTING QUITE SCARED OF BASEL III INITIATED JUNE 28/2021 !// WE HAD SOME REDDIT RAPTOR BUYING//.. COUPLED AGAINST A GOOD EXCHANGE FOR PHYSICAL ISSUANCE. WE HAVE SOME LONG LIQUIDATION AS TOTAL LOSS ON THE TWO EXCHANGES EQUATES TO A SMALL 646 CONTRACTS. (3.23 MILLION OZ)

 

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

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN SILVER TODAY: -38 CONTRACTS

WE WERE  NOTIFIED  THAT WE HAD A GOOD  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 730,, AS WE HAD THE FOLLOWING ISSUANCE:,  JULY 0 AND SEPT 730 ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 730 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 

14.505MILLION OZ FINAL STANDING FOR JUNE

33.655  MILLION OZ INITIAL STANDING FOR JULY

FRIDAY, AGAIN OUR CROOKS USED COPIOUS PAPER TRYING TO LIQUIDATE SILVER’S PRICE …AND THEY WERE

UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT ROSE BY $0.19)  BUT WERE SUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME SILVER LONGS WITH FRIDAY’S TRADING.  WE HAD A SMALL LOSS OF 646 CONTRACTS ON OUR TWO EXCHANGES..  THE LOSS WAS  ALSO DUE TO i) HUGE BANKER/ALGO SHORT COVERING// WE ALSO HAD  ii) SOME REDDIT RAPTOR BUYING//.    iii)  A  GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 38.535 MILLION OZ BUT THEN TODAY A 200,000 EFP JUMP:  NEW STANDING 33.655 MILLION OZ// / v)  STRONG COMEX OI LOSS 
.
YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..
 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

 

JULY

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

5978 CONTRACTS (FOR 6 TRADING DAY(S) TOTAL 5978 CONTRACTS) OR 29.890MILLION OZ: (AVERAGE PER DAY: 996 CONTRACTS OR 4.982 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY: 29.890  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:  149.91 MILLION OZ// ISSUANCE RATE NOW SIGNIFICANTLY ABOVE THE MONTH OF MAY

JULY:  29.890 MILLION OZ ) BELOW PAR WITH JUNE)

RESULT: WE HAD A VERY  STRONG DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1338 , DESPITE OUR $0.19 GAIN  IN SILVER PRICING AT THE COMEX ///FRIDAY .…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 730 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A SMALL SIZED LOSS OF 608 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR $0.19 GAIN

IN PRICE)//THE DOMINANT FEATURE TODAY: HUGE BANKER SHORTCOVERING/  AND AFTER A  STRONG INITIAL SILVER OZ STANDING FOR JULY. (38.535 MILLION OZ), WE HAD A 200,000 OZ EFP JUMP  OF NIL OZ//NEW STANDING 33.655 MILLION OZ/

 

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  730  OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A STRONG SIZED DECREASE OF 1376 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.19 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.15/ FRIDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

WE HAD  15  NOTICES FILED TODAY FOR 75,000 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 STRONG  SIZED 5,950 CONTRACTS TO 476.693 ,,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: -3063 CONTRACTS.

THE STRONG SIZED INCREASE IN COMEX OI CAME WITH OUR GAIN IN PRICE OF $10.25///COMEX GOLD TRADING/FRIDAY.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 STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 9,897 CONTRACTS.  WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JULY AT 3.144 TONNES WHICH WAS FOLLOWED BY A 6500 OZ QUEUE JUMP//COMEX STANDING NOW AT 4.0404 TONNES. OUR CROOKED BANKERS ARE TRYING TO FIND METAL ON THIS SIDE OF THE ATLANTIC.
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $10.25 WITH RESPECT TO FRIDAY’S TRADING

 

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

WE HAD A STRONG SIZED GAIN OF 6834  OI CONTRACTS (21.25   TONNES) ON OUR TWO EXCHANGES…

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 884 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 884 & DEC 0  ALL OTHER MONTHS ZERO//TOTAL: 884 The NEW COMEX OI for the gold complex rests at 476,693. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9897 CONTRACTS:  5950 CONTRACTS INCREASED AT THE COMEX AND 884 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 6834 CONTRACTS OR 20.78 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (884) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (5950 OI): TOTAL GAIN IN THE TWO EXCHANGES: 6834 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING/BIS MANIPULATION WITH CONSIDERABLE ALGO SHORT COVERING ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR JULY AT 3.144 TONNES//FOLLOWED BY A 6500 OZ QUEUE  JUMP,//NEW STANDING 4.0404 TONNES// //3) ZERO LONG LIQUIDATION, /// ;4) STRONG SIZED COMEX OI GAIN AND 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL  ….

 

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

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

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 GOLDAS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX GOLD OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF JULY. HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF AUGUST FOR GOLD:

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

 
 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

JULY

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JULY : 13,519, CONTRACTS OR 1,351,900 oz OR 42.04 TONNES (6 TRADING DAY(S) AND THUS AVERAGING: 2253 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 6 TRADING DAY(S) IN  TONNES: 42.04 TONNES

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

THUS EFP TRANSFERS REPRESENTS  42.04/3550 x 100% TONNES  1.184% 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:      247.54 TONNES (FINAL)

JULY:        42.04 TONNES INITIAL (FALLING DRAMATICALLY IN RATE FROM JUNE)

 

 

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  STRONG SIZED 1376 CONTRACTS  TO 153,632 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 730 CONTRACTS

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

  JULY 0  AND SEPT: 730 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  730 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 1376 CONTRACTS AND ADTO THE 730 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A SMALL SIZED LOSS OF 646 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES 

 

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 3.23 MILLION  OZ, OCCURRED DESPITE OUR  $0.19 GAIN IN PRICE

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

(Peter Schiff, Egon von Greyerz///zerohedge + OTHER COMMENTARIES

 
 

3. ASIAN AFFAIRS

i)MONDAY MORNING/SUNDAY  NIGHT: 

SHANGHAI CLOSED UP 23.75  PTS OR 0.67%   //Hang Sang CLOSED UP 170.70 PTS OR 0.62%      /The Nikkei closed UP 628.60 pts or 2.25%  //Australia’s all ordinaires CLOSED UP .79%

/Chinese yuan (ONSHORE) closed UP TO 6.4758  /Oil UP TO 73.34 dollars per barrel for WTI and 74.72 for Brent. Stocks in Europe OPENED ALL MIXED /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4758. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4784/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

OUTLINE

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 STRONG SIZED 5950 CONTRACTS TO 4796,693 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 WITH OUR GAIN OF $10.25 IN GOLD PRICING FRIDAY’S COMEX TRADING/.WE ALSO HAD A SMALL EFP ISSUANCE (884 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 884 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  885  & DEC.  0  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 885  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 STRONG SIZED 6834 TOTAL CONTRACTS IN THAT 885 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A  STRONG SIZED COMEX OI OF 5950 CONTRACTS.WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR JULY   (4.0404),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 6 MONTHS OF 20201:

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB. 113.424 TONNES

JAN: 6.500 TONNES.

 

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $10.25)., AND THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A VERY STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 9897 CONTRACTS. THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 21.25 TONNES,ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JULY (4.0404 TONNES)..I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE SMALL SIZED 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 -3063  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 6834 CONTRACTS OR 683400 OZ OR  23.25  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:  476,693 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 47.66 MILLION OZ/32,150 OZ PER TONNE =  1482 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1482/2200 OR 67.38% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:235,225 contracts//    / volume fair//

CONFIRMED COMEX VOL. FOR YESTERDAY: 242,532 contracts// – fair//  

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

 

JULY 12

/2021

 
INITIAL STANDINGS FOR JULY COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
75,297.042 oz
HSBC
JPMorgan
Malca
 
 
 
includes
1636
 
KILOBARS
Brinks
207 kilobars
JPMorgan
499 kilobars
Malca
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
8878.676 oz
Manfra
276 kilobars
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
50,041.124
HSBC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
123  notice(s)
 
12,300 OZ
0.3825 TONNES
No of oz to be served (notices)
204 contracts
 20,400oz
 
0.6342 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
1095 notices
109,500 OZ
3.405 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 1 deposits into the dealer
 
i) Into the dealer Manfra: 8873.676 oz  (276 kilobars)
 
 
 
 
total deposit: 8873.676   oz 
 

total dealer withdrawals: nil oz

we had  1 deposits into the customer account
 
i) Into dealer Manfra: 8873.676  (276 kilobars)
 
TOTAL CUSTOMER DEPOSITS 8873.676  oz  
 
 
 
 
 
 
We had 3  customer withdrawals….
 
i) Out of HSBC: 52,599.036 oz (1636  kilobars)
ii) Out of JPMorgan; 6655.257 oz (207 kilobars)
iii) Out of Malca: 16,043.349 oz (499 kilobars
 
 
 
 
 
 
 
total customer withdrawals 75,297.642   oz  all kilobars
 
 
 
 
 
 
 
 

We had 4  kilobar transactions 4 out of  5 transactions)

ADJUSTMENTS  0// 

 

 
 
 
 
 
 
 
 
 
 

The front month of JULY registered a total of 327 contracts for a GAIN of 14.  We had  51 notices filed Friday so we GAINED 65 contracts or an additional 6500 oz will  stand for gold at the comex as they refused to morphed into London based forwards 

 

 
 
 
 
 
AUGUST LOST 16,167  CONTRACTS DOWN TO 316,439 AS WE COUNT DOWN TO THE NEXT BIG GOLD DELIVERY MONTH!!
 
SEPT GAINED ANOTHER 116 CONTRACTS TO STAND AT 471
 
OCTOBER GAINED 413 CONTRACTS UP TO 22,421.

We had 123 notice(s) filed today for 12300  oz

FOR THE JULY 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 92 notices were issued from their client or customer account. The total of all issuance by all participants equates to 123  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 40 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 10  notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the JULY /2021. contract month, we take the total number of notices filed so far for the month (1095) x 100 oz , to which we add the difference between the open interest for the front month of  (JULY: 327 CONTRACTS ) minus the number of notices served upon today  123 x 100 oz per contract equals 129,900 OZ OR 4.0404 TONNES) the number of ounces standing in this active month of JULY

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

No of notices filed so far (1095) x 100 oz+( 327  OI for the front month minus the number of notices served upon today (123} x 100 oz} which equals 129,900 oz standing OR 4.0404 TONNES in this NON- active delivery month of JULY.

We  GAINED an additional 6500 oz that will stand on this side of the Atlantic.

 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

427,737.391, oz NOW PLEDGED  march 5/2021/HSBC  13.30 TONNES

202,692.098 PLEDGED  MANFRA 6.30 TONNES

276,177.249, oz  JPM  8.59 TONNES

1,187,560.751 oz pledged June 12/2020 Brinks/36.93 TONNES

111,411.349, oz Pledged August 21/regular account 3.46 tonnes JPMORGAN

42,638,023 oz International Delaware:  1.326 tonnes

nil oz Malca

total pledged gold:  2,248,216.862. oz                                     69.92 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 504.58 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 4.0404 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  18,470,736.279 oz or 574.51 tonnes
 
 
 
total weight of pledged: 2,248,216.862 oz or 69.92 tonnes
 
 
registered gold that can be used to settle upon: 16,222,520.0 (504,58 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes16,222,520.0 (504,58 tonnes)   
 
 
total eligible gold: 16,969,550.399 oz   (527.82 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  35,415,030.160 oz or 1,101.55 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  975.21 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

July 12/2021

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//JULY

JULY. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
199,386,34 oz
 
 
 
 
 
CNT
Delaware
JPMorgan
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
1006.200 OZ
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
15
 
CONTRACT(S)
75,000  OZ)
 
No of oz to be served (notices)
859 contracts
 (4,295,000 oz)
Total monthly oz silver served (contracts)  5872 contracts

 

29,360,000 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  0 deposits into customer account (ELIGIBLE ACCOUNT)

 
 
 
 
 
 
 

JPMorgan now has 187.5 million oz  silver inventory or 53.43% of all official comex silver. (187.4 million/350.74 million

total customer deposits today  nil   oz

we had 3 withdrawals

 
 
i) Out of CNT:   74,299.295 oz
ii) Out of Delaware: 19,760.150oz
iii) Out of JPMorgan: 105,326.900 oz
 
 
 
 

total withdrawals 199,386.34      oz

 
 

adjustments//0

 

 

 
 

Total dealer(registered) silver: 110.848 million oz

total registered and eligible silver:  350.735 million oz

a net 198,000 oz LEAVES  the comex silver vaults.

silver continually is leaving comex vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

July LOST  238 contracts DOWN 874 contracts. We had 198 notices filed on Friday so we LOST 40 contracts or an additional  200,000 oz will NOT stand for silver at the comex in this very active delivery month of July. THE BANKERS HAVE ORDERED LONGS NOT TO TAKE DELIVERY ON THIS SIDE OF THE ATLANTIC 

 

AUGUST GAINED 3 CONTRACTS TO STAND AT 1718

SEPTEMBER LOST 1112 CONTRACTS DOWN TO  120,208

 
NO. OF NOTICES FILED:  15  FOR 75,000 OZ.

To calculate the number of silver ounces that will stand for delivery in JULY. we take the total number of notices filed for the month so far at  5872 x 5,000 oz = 29,360,000 oz to which we add the difference between the open interest for the front month of JULY (874) and the number of notices served upon today 15 x (5000 oz) equals the number of ounces standing.

Thus the JULY standings for silver for the JULY/2021 contract month: 5872 (notices served so far) x 5000 oz + OI for front month of JULY( 874)  – number of notices served upon today (15) x 5000 oz of silver standing for the JULY contract month .equals 33,655,000 oz. ..VERY POOR FOR JULY. 

We LOST 40 contracts or 200,00 oz will not stand for delivery at the comex  as they were EFP’d over to London. 

 

TODAY’S ESTIMATED SILVER VOLUME  42,891 CONTRACTS // volume  poor//getting out of Dodge//(

 

FOR YESTERDAY  47,461  ,CONFIRMED VOLUME/ poor/

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  FALLS TO -0.87% (JULY  12/2021)

SILVER FUND POSITIVE TO NAV

no of oz of physical silver held  jULY 8.2021;  150,926,000  (GAIN OF 6.411 MILION OZ IN A MONTH)

No of oz of physical silver held; MAY 24/2021  144,515,694 OZ

No. of oz of physical silver held:  Sept 20/20: 85,907.3616  Oz

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 -0.92% nav   (JULY12)

 

/2021 )

 

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

NAV $18.97 TRADING 18.68//NEGATIVE  1.52

 

END

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

July 12/WITH GOLD DOWN $4.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1040.19 TONNES.

JULY 9/WITH GOLD UP $10,25 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1040.19 TONNES

JULY 8/WITH GOLD DOWN $1.90 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.04 TONNES FROM THE GLD//INVENTORY RESTS AT 1040.18 TONNES

JULY 7/WITH GOLD UP $7.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1042.23 TONNES

JULY 6/WITH GOLD UP $11.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .48 TONNES//INVENTORY REST AT 1042.23 TONNES

JULY 2/WITH GOLD UP $6.15 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.62 TONNES FROM THE GLD/INVENTORY RESTS AT 1043.16 TONNES

JULY 1/WITH GOLD UP $5.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1045.78 TONNES

JUNE 30/WITH GOLD UP $8.30 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1045.78 TONNES

JUNE 29/WITH  GOLD DOWN $17.55 TODAY;A HUGE CHANGE IN GOLD INVENTORY AT THE GLD;A DEPOSIT OF 2.91 TONNES INTO THE GLD///INVENTORY RESTS AT 1045.78 TONNES

JUNE 28/WITH GOLD UP $2.00 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1042.65 TONNES/

JUNE 25/WITH GOLD UP $1.45 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1042.65 TONNES

JUNE 24/WITH GOLD DOWN $6.20 TODAY: TWO HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: A PAPER WITHDRAWAL OF 2.9 TONNES FROM THE GLD AT 3 PM AND ANOTERH 3.78 TONNES AT 5 20 PM///INVENTORY RESTS AT 1042.65 TONNES

JUNE 23/WITH GOLD UP $5.75 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1049.55 TONNES

JUNE 22/WITH GOLD DOWN $5.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1049.55 TONNES//

JUNE 21/WITH GOLD UP $13.70 TODAY: TWO HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER DEPOSIT OF 11.09 TONNES INTO THE GLD AT 3 PM AND THEN A WITHDRAWAL OF 3.42 TONNES AT 5 PM////INVENTORY RESTS AT 1049.55 TONNES

JUNE 18/WITH GOLD DOWN  $7.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1041.99 TONNES/

JUNE 17/WITH GOLD DOWN $83.10 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 2.62 TONNES FROM THE GLD/INVENTORY RESTS AT 1041.99 TONNES.

JUNE 16/WITH GOLD UP $5.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1044.61 TONNE

JUNE 15/WITH GOLD DOWN $9.25 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1044.61 TONNES.

JUNE 14/WITH GOLD DOWN $13.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1044.61 TONNES

JUNE 11/WITH GOLD DOWN $15.90 TODAY: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES INTO THE GLD/////INVENTORY RESTS AT 1044.61 TONNES

JUNE 10/WITH GOLD UP $1.40 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.83 TONNES INTO THE GLD////INVENTORY RESTS AT 1043.16 TONNES.

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

 

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

JULY 12 / GLD INVENTORY 1040.19 tonnes

LAST;  1090 TRADING DAYS:   +115.78 TONNES HAVE BEEN ADDED THE GLD

 

LAST 940 TRADING DAYS// +  290.40. TONNES HAVE NOW  BEEN ADDED INTO  THE GLD INVENTORY

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

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

JULY 12/WITH SILVER UP 3 CENTS TODAY: A HUGE CHANGE IN INVENTORY AT THE SLV//: A WITHDRAWAL OF 926,000 OZ FROM THE SLV//INVENTORY RESTS AT 555.150 MILLION OZ

JULY 9/WITH SILVER UP 19 CENTS TODAY: NO CHANGES IN INVENTORY AT THE SLV//INVENTORY RESTS AT 556.077 MILLION OZ//

JULY 8/WITH SILVER DOWN 9 CENTS TODAY //NO CHANGES IN INVENTORY AT THE SLV//INVENTORY RESTS AT 556.077 MILLION OZ.

JULY 7/WITH SILVER DOWN 5  CENTS TODAY: A HUGE CHANGE IN INVENTORY: A WITHDRAWAL OF 1.854 MILLION OZ FROM THE SLV/// INVENTORY RESTS AT 556.077 MILLION OZ//

JULY 6/WITH SILVER DOWN 29 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV//: A WITHDRAWAL OF 242,000  OZ INVENTORY REST AT 557 931 MILLION OZ.

JULY 2/WITH SILVER UP 35 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 2.966 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 558.173 MILLION OZ.

JULY 1/WITH SILVER DOWN 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 561.139 MILLION OZ//

JUNE 30/WITH SILVER UP 27 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.781 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 561.139 MILLION OZ//

JUNE 29/WITH SILVER DOWN 32 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: ANOTHER WITHDRAWAL OF 927,000 OZ FORM THE SLV////INVENTORY RESTS AT 558.358 MILLION OZ.

JUNE 28/WITH SILVER UP 12 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.762 MILLION OZ FROM THE SLV/////INVENTORY RESTS AT 559.285 MILLION OZ

JUNE 25//WITH SILVER DOWN 0 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: ANOTHER WITHDRAWAL OF 1.391 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 561.047 MILLION OZ

 

JUNE 24/WITH  SILVER DOWN 1 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.854 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 562.438 MILLION OZ//

JUNE 23/WITH SILVER UP 23 CENTS TODAY:A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A PAPER WITHDRAWAL OF 1.391 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 564.292 MILLION OZ../

JUNE 22/WITH SILVER DOWN 20 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 4.173 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 565.683 MILLION OZ..

JUNE 18/WITH SILVER UP 3 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV///INVENTORY RESTS AT 573.657 MILLION OZ//

JUNE 17/WITH SILVER DOWN $1.86 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.339 MILLION OZ FROM THE SLV//INVENTORY RESTRS AT 573.657 MIILLION OZ//

JUNE 16/WITH SILVER UP 17 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 576.996 MILLION OZ/

JJUNE 15/WITH SILVER DOWN 35 CENTS TODAY; NOCHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 576.996 MILLION OZ//

JUNE 14/WITH SILVER DOWN 11 CENTS TODAY; TWO CHANGES IN SILVER INVENTORY AT THE SLV/): i)A WITHDRAWAL OF 371,000 OZ FROM THE SLV and then ii) A HUGE DEPOSIT OF 1.484 MILLION OZ INTO THE SLV/////NVENTORY RESTS AT 576.996 MILLION OZ

JUNE 11/WITH SILVER UP 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 575.883 MILLION OZ//

JUNE 10/WITH SILVER UP  ONE CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV.//INVENTORY RESTS AT 575.883 MILLION OZ.

UNE 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

 

SLV INVENTORY RESTS TONIGHT AT

JULY 12/2021      555.150 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Peter Schiff:

Peter Schiff: The Fed Is Like The Boy Who Cried Wolf

 
MONDAY, JUL 12, 2021 – 03:41 PM

Via SchiffGold.com,

There has been a growing sentiment in the markets that inflation isn’t transitory and the Fed is going to eventually have to tighten monetary policy to deal with it. The International Monetary Fund fed the narrative last week when Managing Director Kristalina Georgieva warned of a “sustained” inflation rise in the United States. This comes after a June Federal Reserve meeting that many perceived as a turn toward hawkishness. But in his podcast, Peter Schiff said the Fed is like the boy who cried wolf when it comes to fighting inflation and the markets are bracing for the wrong impact.

There was a pivot to safe havens last week. Peter thinks this growing sense that the Fed is going to start tightening sooner rather than later drove it.

If inflation is not transitory, if it’s sustained, well, everybody expects the Fed to do something about it. If it’s transitory, the Fed doesn’t have to do anything because it takes care of itself. But if it’s not transitory, now the Fed has to take action to reduce the rate of inflation. And that is what is spooking the markets. The markets are worried about the Fed taking action.

There was also renewed focus on the June Federal Reserve meeting with the release of the minutes. It’s clear Fed members are starting to talk about tapering the bank’s asset purchase program. But Peter noted that if you read closely to what they’re saying, they’re telling you they’re not ready to taper.

Even though they are now talking about tapering, what they’re talking about is the fact that they’re not going to do it. What they’re saying is, ‘Yes, we’re talking about tapering, but the conditions that would result in a taper have not yet been met.’

The Fed hasn’t stipulated exactly what those conditions are.

I don’t think they’re ever going to lay out the conditions because I don’t think there is any condition that would actually result in a taper. So, they don’t want to pin themselves into a corner by actually saying what it is that would cause us to taper because when those things happen, if they happen, and then the markets expect a taper and they don’t get it, well, then they lose some credibility.”

Keep in mind, tapering doesn’t mean shrinking the money supply. It just means expanding it at a slower pace.

They’re not talking about stopping the debt monetization, going cold turkey, and they’re certainly not talking about shrinking the money supply. They’re simply talking about inflating the money supply at a somewhat lower pace than they’re inflating it right now.”

Peter said the tone the Fed has taken should reveal to anybody with a brain that it is not going to taper. And if there really is an inflation problem, simply tapering wouldn’t be enough to deal with it anyway.

You’re still adding to the problem when you’re expanding the balance sheet. Even if you are adding to the problem more slowly, you are still fueling the fire. Even if you’re throwing on less fuel, you’re still giving the fire more fuel and it’s going to get bigger.”

The Federal Reserve isn’t even talking about what would actually be required to battle “sustained” inflation.

I think they recognize that there’s no way the markets could handle something like that, so they’re trying to give the markets a little bit of tightening but not too much to really scare them.”

In fact, talking about tightening affects the markets as if there was actual tightening.

The one thing the Fed doesn’t want to do is have rates go up. But it can’t admit that it’s never going to raise them.  So, it’s trying to have its cake and eat it too by tightening without actually tightening. And they do that by just talking about tightening.”

But when the Fed talks about tightening, the markets think it’s serious. In effect, the markets start tightening for the Fed.

It’s like the Fed is this boy who cries wolf, and every time the Fed cries wolf, the villagers come running because they actually expect the wolf. They still don’t realize that it doesn’t matter how many times the Fed cries wolf — there’s never going to be a wolf. So, they can talk about, they can think about, they can do whatever they want about tapering and about raising rates, but they really can’t do it.”

Peter said the markets are bracing for the wrong impact. They’re worried about Fed tightening slowing down the economic recovery.

It’s not that inflation is going to turn out to be not transitory and therefore the Fed is going to fight it. It’s that inflation is not transitory and the Fed is not going to fight it. And because the Fed is not going to fight the non-transitory inflation, it’s actually going to end up getting much worse than people think. And the reason that they are not going to fight inflation in the future is the same reason they’re not fighting it now — because they can’t do it without collapsing the economy. They can’t do it without crashing the stock market, crashing the housing market and forcing the US government to dramatically cut spending or raise taxes on the middle class, two things that it is completely reluctant to do. So, since the Federal Reserve wants no part of any bitter-tasting medicine, even if ultimately it cures what ails us, they’re not going to fight inflation in the future, they’re not going to fight inflation now, they’re never going to fight inflation.

end

EGON VON GREYERZ//MATHEW PIEPENBERG

The Dollar’s Final Crash

 
SUNDAY, JUL 11, 2021 – 09:20 AM

Authored by Egon von Greyerz via GoldSwitzerland.com,

Was Richard Nixon a real gold friend who understood the futility of tying a weakening dollar to gold which is the only currency that has survived in history?

So was Nixon actually the instigator of the movement to FreeGold?

I doubt it. He was just another desperate leader who was running out of real money and needed to create unlimited amounts of fiat money. Although his fatal decision to close the gold window was clearly the beginning of the end of the current monetary system.

But although the decision was fatal, Nixon was clearly not personally responsible. What the world saw in August 1971 was just another desperate leader who realised that he couldn’t stick to the monetary or fiscal disciplines necessary to maintain a sound economy and a sound currency.

In history, Nixon should be seen as the rule rather than the exception. Since every currency has been slaughtered throughout history, one particular leader will also be required to be the executor.

So in 1971, history had elected Tricky Dick to be the inevitable destroyer of the dollar.

I don’t quite know what the definition is of “suspend temporarily” but 50 years seems to be pushing the limit!

And as regards the strength of dollar goes, we all know what happened to the “strength of the currency”! Please see the illustration of the dollar collapse further on in the article.

FREEGOLD

In my article from December 2018 I talked about the advantage of FreeGold.

There are a few conditions that need to be fulfilled for gold to be an effective store of value. The principle of FreeGold best defines what this means. The website FOFOA (Friend Of a Friend of Another) and its predecessors have been pioneers in defining what FreeGold is:

These are the basic principles-

ALL PHYSICAL GOLD MUST BE:

  • FREE from official money systems

  • Owned FREE of all other claims

  • FREELY traded

If all the above conditions are met, there would be no gold backed currencies, no ability to exchange currency for gold at central banks for a fixed parity and most importantly THERE WOULD BE NO PAPER GOLD OR OTHER GOLD DERIVATIVES.

Gold would neither be lent nor leveraged.

In fact, gold should not be tied to any currency. Gold has reigned supreme for 5,000 years whilst all its competitors in the form of fiat money have collapsed. Nixon probably understood this. The world’s current reserve currency could obviously not be shackled any more by gold. Because gold ignores the follies of megalomaniac sovereign leaders who want to cling on to power at any cost.

That is why governments have a Love – Hate relationship with gold.

ON THE ONE HAND – GOVERNMENTS LOVE GOLD

On the one hand gold signifies stability, wealth and the only currency that has survived in history and maintained its purchasing power. That is why governments around the world allegedly hold 34,000 tonnes of it currently valued at $2 trillion.

As Greenspan said a few years ago:

“If it (gold) is worthless and meaningless, why is everybody (central banks) still holding it?”

ON THE OTHER HAND – GOVERNMENTS HATE GOLD

On the other hand governments hate gold since it reveals their total mismanagement of the economy.

Because as soon as they run out of money, tying the currency to gold creates an extremely inconvenient road block that must be eliminated.

As gold is an inconvenient truth sayer, tying it to the currency prevents governments from holding on to power. So out with gold and sound money and in with credit expansion and fake money that temporarily buys votes.

Printing money and buying votes is not just a frivolous folly, but also an extremely costly exercise that without fail leads to the collapse of the economy and the currency.

DOLLAR AND OTHER CURRENCIES CRASHING INTO THE ABYSS

Just look at the picture below showing the crash of the dollar from the peak of the Matterhorn.

So far it is a “mere” 98% fall since 1971. But that is just the beginning. The next move of all the currencies will shock the world as they crash into the abyss.

The dollar and all currencies are likely to fall by another 98%+ from here as the world central banks desperately attempt to save the financial system.

Whether that means gold at $1,900 or $19,000 or much, much higher is all a function on the final debasement of the currencies rather than the rise of gold.

NO CURRENCY HAS SURVIVED IN HISTORY IN ITS ORIGINAL FORM

Every currency in history has disappeared or become worthless. There are at least 160 currencies that have died through hyperinflation but the real number is likely to be much higher.

The longest surviving currency today is the British Pound which has been in existence since 1694. At that time one pound bought 12 ounces of silver and today one pound buys 0.05 oz.

So although the pound has survived for over 300 years in name, it has lost over 99.99% of its purchasing power in that time.

BITCOIN – $10,000 NEXT?

For anyone who believes that crypto currencies will take over from gold, they should think again. There are around 10,000 cryptos today and over 1,000 have already died.

Bitcoin is of course the biggest. As I have said before, BTC is a wild binary bet. It can go to $1 million and it can go to Zero. Governments are unlikely to allow it to go to $1 million except for as a collector’s item without any practical use. They are more likely to force it to zero as it is banned by an increasing number of countries.

And anyone who thinks BTC will replace gold must think again. It might be a great speculative investment but it can never be a real store of wealth. And the extreme volatility makes it very unsuitable either as a reserve currency or as a wealth preservation investment.

We have seen $65,000 for BTC this year and now it is down 46% from there. Technically it looks like BTC could go to $10,000. If that will be the case, it will certainly not be suitable for widows or orphans

HISTORY – HISTORY – HISTORY

Again, history is our teacher. Most sovereign leaders never look at history. Their egos are too big to learn from the past. Instead they suffer from delusions of grandeur and always believe that things are different today just because they are in power.

But if they had one iota of humility, they would learn that there is very little new under the sun when it comes to the laws of nature and sound money.

They can call it by fancy names such as Keynesianism, QE or MMT. But embellishing a “criminal” action with a fancy name doesn’t make it legitimate. What governments are doing with money would put ordinary people in jail.

How can anyone call dollars or euros legal tender when most of it is created without the production of any goods or service.

Money fabricated by pressing a button by an index finger can never be worth more than the cost of moving the finger. Still these small finger movements are generating trillions of dollars, euros, yen, RMB and other currencies in an illusory creation of wealth.

WILL THERE BE A RESET?

I have at various times made my position clear on a reset.

I definitely don’t believe in Klaus Schwab and his cohorts taking over the world in a James Bond style movie. My view is that these self-important people will totally fail in any attempt to dominate world politics or the global economy.

The current monetary system has given the 0.1% elite illusory wealth and power. But that is a totally artificial and temporary situation. As the current currency system collapses so will their power and illusions.

Nor do I believe that governments and central banks will succeed in anything but a very temporary reset, if that. This kind of attempted reset could involve making debt disappear in a hocus pocus move and revaluing gold. Central bank digital currencies would also be introduced.

What they don’t realise is that Humpty Dumpty has already fallen and is irreparable. Any artificial and fake measures will not ever put Humpty together again.

So the only real reset that I see will be disorderly in a fall of the current monetary system.

Many of my previous articles cover the consequences in detail.

As I have outlined, it will be a very unpleasant but temporary period for the world as all the corruption and excesses of the last 100 years are unwound.

But the coming forest fire is essential to get rid of the deadwood so that new green shoots can create a sounder world economy and system.

GOLD (& SILVER) WILL BE A LIFE SAVER

As the graph above shows, gold is today as cheap in relation to US money supply as it was in 1970 when gold was $35 and in 2000 when gold was $300.

For financial survival, physical gold and silver will be life savers as bubble asset like stocks, bonds and property collapse in real terms. But due to the fragile financial system, precious metals must be held in private & safe vaults outside the system.

END

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

LAWRIE WILLIAMS: Will she, won’t she? Gold poised but which way will it move?

Gold was allowed to end the past week at a little north of $1,800, and silver above $26, after a few shaky moments which saw all the precious metals fall back a few dollars. The big question now is, of course, can the new levels be maintained, or even built on, in a continuingly volatile marketplace?

As we had suggested in another recent article: Views on gold somewhat mixed. We remain bullish, we suspect that gold may be finding its base. It could thus be preparing for the next upwards move which should take it back to $1,900, and possibly higher over the remainder of the northern summer holiday period, although we now feel that $2,000 gold may yet be out of reach in this year’s trading and certainly we have never advised readers to follow those predicting a $5,000, or even $10,000, gold price. Yes, gold may indeed reach these exalted levels at recent growth rates many years hence, at which point these pundits will be quick to say ‘I told you so’, while conveniently forgetting they’ve been preaching the exalted gold price mantra for more years than the average gold investor will be able to remember.

‘Be careful what you wish for’ is a time honoured saying. Should the gold price indeed rise to the kinds of levels these gold ultra-bulls are predicting it would be because of a total collapse in the global economic system, or an all-encompassing military conflict from which no single nation is likely to emerge unscathed, or victorious.. The resulting chaos would probably bring about the kinds of apocalyptic scenarios so beloved of the Hollywood disaster movie genre.

Our approach to gold has tended to be cautiously bullish, so if we take advice we tend to take it from those of a somewhat similar inclination. We have recommended Canadian consultancy, Murenbeeld & Co, in these pages beforehand and have no hesitation in so doing again. Martin Murenbeeld, who founded the consultancy which bears his name, has been one of the most accurate gold price forecasters of recent years. He takes a statistical approach to his forecasts, which he adjusts on the basis of most recent price trends. So saying his forecasts made at the beginning of the year he now feels were over-bullish and he has scaled these back accordingly.

Murenbeeld puts forward three likely price scenarios – a cautious one, a bullish one and a ‘most likely’ one and attaches a likelihood weighting to each scenario from which he comes up with an overall price prediction. His latest forecasts, issued last week, are set out below:

Source: Murenbeeld & Co.

It should be noted that these forecasts are for average prices over each quarterly period, so the daily spot prices during these individual quarters could be considerably higher or lower, so do not rule out totally a near-$2,000 spot price occurring before the end of the year, although on his latest predictionas this seems perhaps unlikely.

In the consultancy’s own words as published in its latest Gold Monitor weekly newsletter for clients: “Scenario A essentially sees gold returning to its levels at the time Covid hit ($1550-1600); global liquidity dries up, real interest rates turn sharply less negative, and inflation pressures subside. Scenario C is modelled on real interest rates remaining deeply negative, global liquidity rising significantly further, inflation remaining seriously elevated, and the dollar tumbling some 8-10% over the course of the next six quarters. (We think Scenario C has a higher probability than Scenario A, as reflected in the probability table.)”

The consultancy goes on to note that in some of its past forecasting scenarios it has tended to add a few dollars for likely geopolitical occurrences which could affect the gold price. Such additions are lacking from the latest price prediction table, in part because the forecasters are undecided over the likely impact of such factors as China/US economic and trade problems, Russia/US cyber-warfare, the Iran/US nuclear standoff, the upcoming Afghanistan civil war, China encroachment on Taiwan, etc. As can be seen there are plenty of ‘unknown unknowns’ which could have an impact and if any of these, or others, flare up we could well see some additional price movement.

Our own price view is perhaps a little more optimistic for the gold investor than the Murenbeeld weighted averages, and tends towards his Scenario C more bullish forecast for the reasons stated above. Murenbeeld notes that the consultancy is overall bullish on gold – as are we. We hope and think the gold price might progress a little further and faster than the latest Murenbeeld weighted predictions might suggest, but not hugely so.

:

ii) Important gold commentaries courtesy of GATA/Chris Powell

I would not worry about this! The uSA and European banks must still be onside and these are the majority of the banks.

Britain exempts gold-clearing banks from Basel 3 rule

 

 

 Section: Daily Dispatches

 

By Peter Hobson
Reuters
Friday, July 9, 2021

LONDON — A British regulator said today that banks clearing gold trades in London could apply for an exemption from tighter capital rules due in January 2022, removing what some said was a threat to the functioning of the market.

London is the world’s biggest physical precious metals trading hub. Its clearing system, operated by a handful of large banks with access to metal in vaults, settles gold transactions worth around $30 billion a day.

The upcoming rules, known as the net stable funding ratio (NSFR), are part of Basel III regulation designed to make banks more stable and prevent a repeat of the financial crisis of 2008-09.

They treat physically traded gold like any other commodity, requiring banks to hold more cash to match their gold exposure as a buffer against adverse price moves.

The London Bullion Market Association (LBMA), an industry body, has lobbied against them, saying they are unnecessary and could force some banks – including clearing banks – to stop trading.

Following a consultation, the Bank of England’s Prudential Regulatory Authority (PRA) said on Friday it had “decided to amend its approach to precious metal holdings related to deposit-taking and clearing activities.”

It said it had introduced an “interdependent precious metals permission” which would reduce the size of the required capital buffer. …

… For the remainder of the report:

https://www.reuters.com/article/gold-trading-nsfr/britain-carves-out-exemption-for-gold-clearing-banks-from-basel-iii-rule-idUSL5N2OL4DT

END

Can Reddit’s silver ‘apes’ beat the market?

 

 

 Section: Daily Dispatches

 

By Peter Hobson
Reuters
Friday, July 9, 2021

LONDON — Kerry Kraker, 56, has worked in kitchens all his life. Since March he’s spent around $100 a week — half his spare cash — on silver coins. He’s part of a growing social media movement who say they are buying bars and coins for protection from a coming age of inflation.

Thanks to a community of like-minded silver “stackers” gathering on social-media platform Reddit Inc., Seattle-based Kraker says he also feels empowered.

“They are so encouraging and so convinced in the changes they can cause,” Kraker, who lost his home in the financial crisis, told Reuters.

Inspired by Reddit forum WallStreetBets, some of the 122,000-strong community hope to corner the market and bring down what they say is an unjust banking system.

Market professionals say that is unlikely to succeed – there is plenty of silver, and central bankers in the United States and Europe expect inflation to stay in low single-digits. …

… For the remainder of the report:

https://www.reuters.com/technology/can-reddits-silver-apes-beat-market-2021-07-09/

 

end

How gold left England for the Bank of Canada and that helped defeat the Nazis in World War ii

(CBC/Toronto/GATA)

How Ottawa seized a golden opportunity to help defeat the Nazis in WWII

 

 

 Section: Daily Dispatches

 

By Alistair Steele
Canadian Broadcasting Corp. News, Toronto
Saturday, July 10, 2021

In June 1940, the Second World War was not going well for Great Britain.

More than 300,000 Allied soldiers and sailors had just been rescued in the desperate evacuation from the French port of Dunkirk. The French army soon crumbled, and by mid-month German troops were marching into Paris.

The Nazi invasion of Britain seemed both imminent and inevitable.

The newly formed government of Winston Churchill needed a plan to keep the nation’s wealth out of Hitler’s hands. Some of it had already made its way across the Atlantic, but Britain needed a way to move the rest.

Operation Fish was hatched and would soon become the single-largest transfer of material wealth in history at the time — though very few people in Britain or Canada, where billions of dollars’ worth of gold and securities would be sent for safekeeping, ever caught a whiff. …

… For the remainder of the report:

https://www.cbc.ca/news/canada/ottawa/operation-fish-ottawa-british-gold-1.6092275

end

A new gold-backed world reserve currency is coming, Leeb tells KWN

 

 

 Section: Daily Dispatches

 

10p ET Sunday, July 11, 2021

Dear Friend of GATA and Gold:

Financial analyst Stephen Leeb predicts to King World News today that a new world reserve currency is inevitable and that it likely will be composed of a basket of currencies that in turn are backed by gold. 

Leeb explains his prediction at KWN here:

https://kingworldnews.com/leeb-the-coming-gold-based-monetary-system-will-have-some-surprises/

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

END
 
COMMODITY// 
 
 

-END-

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

i) Chinese yuan vs usa dollar/CLOSED UP AT 6.4758 

 

//OFFSHORE YUAN 6.4784  /shanghai bourse CLOSED  UP 23.75 PTS OR 0.67% 

HANG SANG CLOSED UP 170.70 PTS OR 0.62 %

2. Nikkei closed UP 628.60 PTS OR 2/25%

3. Europe stocks  ALL MIXED

 

USA dollar INDEX UP TO  92.35/Euro FALS TO 1.1842

3b Japan 10 YR bond yield: FALLS TO. +.030/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110.20/ 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:: 73.54 and Brent: 74.72

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.305%/Italian 10 Yr bond yield DOWN to 0.73% /SPAIN 10 YR BOND YIELD DOWN TO 0.33%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.04: D08GEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.74

3k Gold at $1800.50 silver at: 25.93   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 25/100 in roubles/dollar) 74.66

3m oil into the 73 dollar handle for WTI and 74 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 110.20 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 .9169 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0850 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 0.305%

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 1.348% early this morning. Thirty year rate at 1.968%

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

6.  TURKISH LIRA:  UP  TO 8.65..  VERY DEADLY

Futures Drift From Record Ahead Of Powell, Inflation And Earnings

BY TYLER DURDEN
MONDAY, JUL 12, 2021 – 07:53 AM

After hitting an all time high of 4,365 at the close on Friday, U.S. futures drifted lower to start the week as investors awaited the start of Q2 earnings season starting this week in order to gauge whether corporate profitability can support equity valuations. Treasury yields dropped, as an upsurge in new infections caused by the Delta coronavirus variant pushed some investors into the safety of bonds and capped commodity price gains on Monday. At 715am emini S&P futures were down 7.5pts or -0.17% to 4,352 , Dow Jones futures were down 150pts or down 0.42% and Nasdaq futures were up 30 pts or +0.20%.

Markets were jittery at the start of an eventful week that will see the U.S. second-quarter earnings season kick off, the release of inflation data in several countries, and testimony by Federal Reserve Chair Jerome Powell which will be scrutinized for any talk of tapering. Here are some of the biggest U.S. movers today:

  • Didi (DIDI) shares fall 4.4% in premarket trading, following last week’s 22% slump as Chinese regulators stepped up a crackdown on tech companies. Didi also said that CAC stated that 25 apps operated by the company in China had the problem of collecting personal information in serious violation of relevant PRC laws and regulations.
  • Sgoco (SGOC) surges 54% amid retail- trader touts on Reddit and StockTwits, while Carver Bancorp (CARV) jumps 16% after its three-day 170% gain.
  • Toughbuilt Industries (TBLT) falls 21% in premarket trading after a 39% surge last week and nearing the value to be paid in an offer.
  • Virgin Galactic (SPCE) shares rise 8.1% in premarket trading after Richard Branson’s test flight to space kicked off a landmark month for the future of space tourism.

“There does seem to be a complacency that Goldilocks is not only alive and well, but that it’s getting stronger by the day,” Simon Ballard, First Abu Dhabi Bank chief economist, said on Bloomberg Television. “Unfortunately, it has to be recognized that going forward, the longer that rates remain where they are, the more that we look toward tapering, the more severe and acute could be the reaction.”

Worries over the global economic outlook were highlighted by warning from the G20 finance ministers over the weekend, who warned that recent improvements in the global economy could be derailed by fast-spreading COVID-19 variants such as Delta. A Reuters tally here of new COVID-19 infections shows them rising in 69 countries, with the daily rate at 478,000.

The variant is responsible for record rises in infections in Australia where another lockdown looks imminent. South Korea has put its capital Seoul under the toughest anti-COVID curbs so far while cases continue to rise across Asia and Europe. “There is a bit of a global coordination problem with different countries vaccinating at a different pace. The question is how well vaccinated you are and vaccinations are pretty low across much of Asia,” said Colin Asher, senior economist at Mizuho in London; however he also noted that for Western markets, with better vaccination rates, monetary policy would be the main focus.

Separately, US inflation data due Tuesday will be particularly watched after the recent bond rally which sent U.S. 10-year Treasury yields 15 basis points lower at one point. While markets have since stabilized, yields are not far off 4-1/2 month lows at 1.35%, pressured at least partly by investors’ rethinking bullish sentiment.

* * *

MSCI’s all-country equity index closed last week in the red but rose 0.2% on Monday, lifted by hefty gains across Asia where markets tracked Friday’s record close on U.S. stocks. Asia-Pacific shares outside Japan rose 0.7% while Japan’s Nikkei bounced 2.2%. Chinese blue chips rose 1.1% after China cut its RRR on Friday, telegraphing that more stimulus was on the way, set to support China’s credit impulse and pushing risk assets higher.

The Stoxx Europe 600 was 0.1% higher after turning lower earlier, with declines for banks and travel companies offsetting gains for health care and utilities. Atos slumped as much 18% to the lowest since March 2020 after the IT services firm lowered its revenue growth and operating margin targets, which Oddo says is a “significant warning.” The euro weakened and yields on core European bonds fell after European Central Bank President Christine Lagarde told investors to prepare for new guidance on monetary stimulus in 10 days. 

Here are some of the biggest European movers today:

  • AB Science shares soar as much as 29%, the most since Dec. 16, after the company was informed by the French National Agency that measures proposed to reinforce patient safety in masitinib trials are acceptable to resume enrollment in 3 ongoing studies.
  • JCDecaux jumps as much as 8.9% after JPMorgan upgraded the outdoor advertising company to overweight from neutral on the potential for a recovery in advertising.
  • Daily Mail and General Trust shares rise as much as 10% to their highest since Sept. 2000, after the Rothermere family considers taking the media company private.
  • Admiral gains as much as 6.3% to a record high after the insurer boosted its outlook. Motor claims frequency in 2021 to date has been lower than expected due to extended lockdown restrictions, the company said.
  • CD Projekt rises as much as 7.5%. Sony said on the Playstation blog that the Polish company’s flagship Cyberpunk was the “top downloads” game in June on PS4.
  • Tate & Lyle rises as much as 4.1%, the most in 11 weeks, after the ingredients maker announced steps to deconsolidate its primary products business, including plans to distribute a special dividend. The move is broadly as expected, according to Jefferies.
  • Atlantic Sapphire shares fall as much as 15% after an incident in one of its saltwater growout systems in Denmark.

Earlier in the session, Asian equities rose led by gains in China and Japan, after U.S. stocks rallied to all-time highs and the Chinese central bank said it will cut the amount of cash most lenders must hold in reserve. The MSCI Asia Pacific Index climbed more than 1% after a four-day losing streak. Information-technology and industrials were the top-performing sectors. Japan’s Topix climbed 2.1%, while China’s CSI 300 Index added 1.3%. The liquidity-sensitive ChiNext surged 3.7% to the highest since June 2015 after the People’s Bank of China on Friday said it will reduce the reserve requirement ratio by 0.5 percentage point for most banks effective July 15, unleashing about 1 trillion yuan ($154 billion) of long-term liquidity into the economy. China’s RRR cut appeared to reflect policymakers’ view that the economy was losing momentum.

“China’s shift to an easy monetary policy is a plus for equities,” said Shoji Hirakawa, the chief global strategist at Tokai Tokyo Research Institute in Tokyo. For Japan, “the decision to hold the Olympics without an audience is positive for stocks as it alleviates concern over the spread of the Delta variant.” The strong start to the week for Asia’s stock benchmark comes after it capped a second straight weekly loss on Friday, hurt by continued losses in Hong Kong-listed Chinese tech shares and concern over the spread of coronavirus variants in various countries. Taiwan Semiconductor Manufacturing and Sony Group were the biggest boosts to the MSCI Asia Pacific Index on Monday. However, stocks plunged in Vietnam, with the VN Index losing as much as 5.7%. Authorities across Vietnam’s south have issued anti-virus movement restrictions following last week’s stay-home order in the nation’s commercial hub of Ho Chi Minh City.

In FX, the U.S. dollar inched higher against a basket of currencies at 92.17.  The Bloomberg Dollar Spot Index was poised for its first advance in three sessions, and the greenback was higher against most of its Group-of-10 peers; commodity currencies led by the Norwegian krone declined while the yen, the Swiss franc along with the euro were steady against the greenback. The euro firmed to $1.188 from last week’s low at $1.1780. It did not react to comments by European Central Bank President Christine Lagarde that the bank will change its guidance on policy at its next meeting and show it is serious about reviving inflation. The pound slipped against a broadly stronger dollar and euro, with trading seen range- bound until a new catalyst emerges; leveraged funds raised their net GBP longs, while asset managers increased their net shorts to the most bearish since November. Australia’s dollar slid after a spike in new coronavirus cases in Sydney prompted leveraged funds to reload Aussie shorts. Government bonds rose.

In rates, Treasuries yields dipped trimming Friday’s seven-basis-point rise, and the curve bull-flattened with long-end yields richer by up to 2.5bp on the day as S&P 500 futures edge lower, slightly paring Friday’s rally. Treasury 10-year yields were around 1.34%, richer by ~2bp vs Friday’s close and outperforming bunds by ~1bp; long-end-led advance flattens 2s10s spread by ~1.5bp, 5s30s by ~2bp. The Treasury supply drought that began after the 7-year note auction on June 24 ends today with a doubleheader auction as 3- and 10-year note are sold Monday, followed by 30-year bond sale Tuesday for combined $120bn in two days. WI 3- year at 0.410% is higher than 3-year auction stops since March 2020 and ~8.5bp cheaper than last month’s, while WI 10-year at 1.345% is lower than previous four results and ~15bp richer than last month’s. Bunds lagged, with focus on heavy European debt sales that are expected to total EU39b. Bond traders are also awaiting for Fed Chair Powell’s semi-annual congressional testimony is ahead Wednesday and Thursday.

In commodities, prices too were subdued, with Brent crude futures slipping half a percent. Oil extended a decline after its first weekly loss in seven amid an OPEC+ dispute over a production increase. London-traded copper, nickel and aluminium also fell, though China’s Friday move to ease policy supported Shanghai metal futures.

Looking ahead, investors will be keeping a close eye on earnings season to support Wall Street’s run higher, with the S&P 500 .SPX up roughly 16% for the year so far, underpinned by the expected earnings surge.

Expectations for a 65% rise from the same 2020 quarter, according to Refinitiv. JPMorgan, Goldman Sachs, Bank of America and other big banks kick off results from Tuesday.

Looking at today’s calendar, there are no major data releases scheduled.

Market Snapshot

  • S&P 500 futures down 0.2% to 4,351.50
  • STOXX Europe 600 little changed at 457.54
  • MXAP up 1.2% to 204.34
  • MXAPJ up 0.7% to 678.85
  • Nikkei up 2.2% to 28,569.02
  • Topix up 2.1% to 1,953.33
  • Hang Seng index up 0.6% to 27,515.24
  • Shanghai Composite up 0.7% to 3,547.84
  • Sensex little changed at 52,397.28
  • Australia S&P/ASX 200 up 0.8% to 7,333.46
  • Kospi up 0.9% to 3,246.47
  • Brent futures down 0.7% to $75.05/bbl
  • Gold spot down 0.2% to $1,803.82
  • U.S. dollar index little changed at 92.19
  • German 10Y yield fell 1.8 bps to -0.311%
  • Euro little changed at $1.1871

Top Overnight News from Bloomberg

  • European Central Bank President Christine Lagarde told investors to prepare for new guidance on monetary stimulus in 10 days, and signaled that fresh measures might be brought in next year to support the euro-area economy after the current emergency bond program ends
  • European Central Bank policy maker Francois Villeroy de Galhau signaled that he’s in no rush to agree on new measures for supporting the euro-area economy to succeed the current emergency tools
  • Bond investors are abandoning thoughts of a post- pandemic paradigm shift toward faster growth, and downplaying fears of runaway inflation — at least for now
  • Prime Minister Boris Johnson will warn people to remain vigilant as he prepares to lift virtually all remaining coronavirus restrictions in England
  • China’s V-shaped economic rebound from the Covid-19 pandemic is slowing, sending a warning to the rest of world about how durable their own recoveries will prove to be
  • Japan’s machinery orders jumped in May, climbing for a third straight month and exceeding economist’s estimates by a wide margin, even after the government tightened restrictions to control the virus

Quick look at global markets courtesy of Newsquawk

Asia-Pac stocks began the week on the front foot as they followed suit to last Friday’s gains across global counterparts including the cyclical-led advances on Wall St where the major indices posted fresh record closes, with the regional bourses taking their first opportunity to react to the PBoC’s surprise RRR cut. The ASX 200 (+0.8%) traded higher with outperformance in the mining-related sectors frontrunning the advances for the index but with upside capped by losses in consumer stocks and with Australia’s most populous city of Sydney bracing for a longer and stricter lockdown after a further increase of COVID-19 infections which the New South Wales Premier suggested were going to get worse before they get better. The Nikkei 225 (+2.3%) was the biggest gainer with the index encouraged by recent outflows from the JPY and better-than-expected Machinery Orders that printed at its highest since October, while the KOSPI (+0.9%) benefitted from early trade figures including a continuation of the double-digit growth in Exports during the first 10 days of July. Hang Seng (+0.6%) and Shanghai Comp. (+0.7%) conformed to the positive mood after the recent 50bps RRR cut by the PBoC effective from July 15th which will release around CNY 1tln of long-term liquidity and with the latest Chinese financing data also adding to the encouragement, although tensions lingered in the background after the US recently blacklisted 34 companies including 14 that were related to China’s ongoing campaign of repression against Muslim minority groups, which China’s Mofcom criticized as unreasonable suppression and vowed to take necessary measures to protect China’s rights and interests. Finally, 10yr JGBs were subdued following the recent bear-steepening in USTs, with demand sapped by the outperformance in Japanese stocks and absence of BoJ purchases in the market today.

Top Asian News

  • World’s Billionaire Factory Shudders as China Cracks Down
  • Hillhouse Is Said to Be Preferred Bidder for King Koil China
  • Japan Sees Solar as Cheaper Than Nuclear Generation by 2030
  • Iron Ore Climbs as China Stimulus Outlook, Supply Flows Eyed

The European equity space kicked off the new trading week in somewhat of a mixed/directionless fashion (Euro Stoxx 50 -0.4%), with a slight downward bias materialising since the cash open. US equity futures also vary but the NQ (+0.1%) narrowly outperforms its ES (-0.2%), YM (-0.3%) and RTY (-0.5%) counterparts. Volumes in the morning are unsurprisingly anemic after the Euro 2020 final, whilst news flow is also sparse. That being said, the rest of the week is packed with risk events – the focus from a macro standpoint will primarily fall on China’s Trade and GDP, and US CPI and Retail Sales, whilst several ECB and Fed speakers also slated for the week including a double dose of Fed Chair Powell. Meanwhile, earnings season is about to kick off again this week seeing updates from Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo, alongside chip giant TSMC. Back to Europe, sectors paint a more defensive picture as Healthcare, Utilities and Staples reside as the outperformers. Banks and Basic resources trade on the other side of the spectrum amid declines in yields and base metals respectively. Travel & Leisure meanwhile underperforms as the spread of the COVID delta variant prompts some economies to reconsider some more stringent restrictions. Furthermore, the European Commission is set to propose an overhaul of carbon/fuel tax, whilst it will provide incentives for low-emission fuels and propose levies on heavily polluting energy in airlines. In terms of individual movers, Daily Mail and General (+0.6%) almost totally retraced the 10% gains seen at the cash open despite reports suggesting that the Rothermere family is considering taking the Daily Mail private in a deal that could value the newspaper group at GBP 810mln. Admiral Group (+4.2%) are among the winners following a guidance upgrade. Tate & Lyle (+1.8%) are firmer after proposing a sale of a controlling stake in their primary products unit. On the other end, ATOS (-17%) shares slumped as it issued a profit warning after it booked negative organic growth during the second quarter.

Top European News

  • Central London Rents Jump by Record as Tenants Return to Capital
  • European Gas Drops on Carbon Loss, Looming Nord Stream 2 Launch
  • Lithuania Urges More Sanctions Against Belarus Over Migrants
  • Benfica SAD Shares Suspended From Trading in Lisbon, CMVM Says

In FX, the Dollar looks a bit more settled after its relatively abrupt and sharp decline towards the tail end of last week when FOMC minutes and US data prompted a pull back from midweek peaks, with the index holding above the 92.000 level and the Greenback firmer against most majors ahead of Fed commentary via Williams and Kashkari plus 2 slugs of US Treasury supply that may result in some concession in yields and curve re-steepening after recent pronounced bull-flattening.

  • NZD/CAD/AUD/GBP – All on the back foot vs the Buck, and the Kiwi undermined by a slowdown in NZ electronic card sales rather than mixed RNBZ vibes as NZIER’s shadow board expects the Bank to begin tightening within 12 months, but Kiwi Bank suggest that a November hike seems premature. Nzd/Usd is back below 0.7000 as a result and the Loonie has handed back modest post-Canadian jobs data gains on the back of a retreat in oil prices with Usd/Cad hovering just below 1.2500 vs sub-1.2450 at one stage. Back down under, the Aussie remains subdued beneath 0.7500 as Sydney braces for a longer and stricter lockdown due to increases in COVID-19 cases, while the New South Wales Premier warned that the situation is going to get worse before improving and the Australia-Singapore travel bubble will reportedly be delayed until the end of 2021 at the earliest, according to Australia’s Trade Minister. Elsewhere, Sterling is subdued after England’s defeat at the Euros with Cable towards the base of a 1.3910-1.3856 range and Eur/Gbp pivoting 0.8550 ahead of UK inflation and jobs data on Wednesday and Thursday respectively.
  • JPY/EUR/CHF – The Yen continues to outperform or hold up better than its G10 counterparts and significantly stronger than forecast Japanese machinery orders could well be a factor as Usd/Jpy retreats from around 110.28 towards 110.00 where circa 1.2 bn option expiry interest resides. Meanwhile, the Euro is hovering between 1.1850-1.1900 and awaiting this month’s ECB policy meeting with anticipation after President Lagarde and GC member de Guindos both signalled that there will be a change in guidance, and the Franc is tightly bound around 0.9150 following a fairly big rise in Swiss domestic bank sight deposits in the latest reporting week.

In commodities, WTI and Brent front month futures have seen losses exacerbate in recent trade despite a lack of fresh fundamental news flow to trigger the price action, although technical factors and low volumes could be attributed to some of the downside experienced across the complex. The former now resides under the USD 73.50/bbl mark (vs high 74.93/bbl) whilst the latter trades sub-USD 74.50/bbl (vs high USD 75.84/bbl). The morning has seen a joint Saudi-Omani statement which in essence signalled that the two countries will abide by OPEC decisions. However, eyes remain on the UAE as reports last week floated the idea of a unilateral increase by the kingdom, in turn sparking fears of an OPEC breakdown Furthermore, the delta variant has put a spanner in the works in terms of the pace of crude recovery as some economies reconsider some targeted measures to stem outbreaks. Elsewhere, spot gold and silver are subdued due to the Dollar but remain within tight ranges on either side of USD 1,800/oz and USD 26/oz respectively as precious metals await this week’s risk events. Precious metals meanwhile are on the backfoot with LME copper struggling to hold above USD 9,500/t in the run-up to the Chinese GDP figures – with some doubts raised regarding the nation’s rate of growth which could’ve led to the RRR cut. However, Chinese officials have suggested that the increasing monetary supply is likely to help small companies to absorb the upstream inflation in commodity prices.

US Event Calendar

  • Nothing major scheduled

Central bank calendar

  • 12pm: Fed’s Kashkari Speaks at Townhall

DB’s Jim Reid concludes the overnight wrap

So an Englishman yesterday achieved what many thought was impossible, beating his rivals, and triumphing after many stumbles over the years. Yes Richard Branson successfully tested his Virgin Galactic space tourism venture. I’m not sure whether space is on our amber covid travel list and whether you have to quarantine when you get back but an impressive feat nevertheless. Unlike in other penalty shoot outs England have lost over the years, at least he didn’t see any balls travelling past him on their way to the moon after soaring over the crossbar. Our three missed kicks were much more grounded. Congratulations to Italy. The better team won on the night. If it takes another 55 years for England to get to another major final then I’ll be 102. By then maybe it will be played in space! I can just see the FIFA press conference now announcing the winning joint bid from Mars and Venus!

Back on earth it’s likely to be an eventful week ahead for markets, with the US CPI reading for June (tomorrow) expected to set the tone after the reflation trade has deflated over recent weeks. We also have the first Treasury coupon issuance (today and tomorrow) since June 24th in what has been a very very squeezed Treasury market with 9 Fed open market operations since. Other big US data of note comes with PPI (Wednesday), various manufacturing readings (Thursday) and a big day for the consumer on Friday with retail sales and consumer confidence prints. The highlight outside the US may be the Q2 GDP reading from China (Thursday).

On the central bank side, investors will also be paying attention to Fed Chair Powell’s congressional testimonies (Wednesday and Thursday), as well as the Bank of Japan’s latest monetary policy decision (Friday). Earnings season gets going too, with a number of US financials reporting from tomorrow, whilst important meetings of policymakers include the Eurogroup meeting on Monday, and that between President Biden and Chancellor Merkel at the White House on Thursday.

Going through the main highlights in more details and we have to start with US CPI. Last month I said that this data release might be the most closely-watched inflation report of my career. It maybe was a for a few minutes but even though headline (5.0%) and core (3.8%) beat expectations by 0.3pp and were the highest for 12 and 29 years respectively, the report had limited follow through as most focused on the transitory elements. Subsequent concerns about the virus, the economy and strong technicals overshadowed the release. DB’s expectations this week are for energy prices to keep headline (+0.54% forecast vs. +0.64% last month) above core (+0.39% vs. +0.74%). The devil will all be in the detail though with used car prices for one likely to be a lot less troublesome than in recent months (they added nearly 30bps to last month’s release). Our economists will also be watching for signs that higher inflation in Covid-centric categories such as airfares and lodging away are spreading to other categories such as rents. They haven’t spread much yet so all eyes on this.

As we all know there has been a big battle to explain the rally in Treasuries after the huge inflation beats of the last couple of months. Some say it’s because of concerns over medium-to-long-term fundamentals, others say it’s technicals. Whatever the reason it’s been an impressive rally. If it is technicals, maybe we’ll get some clues this week as today sees the first Treasury coupon auctions since June 24th due to quirky calendar effects. Since then, there has been 9 near-consecutive Fed buyback operations, making this period the longest stretch of Fed OMOs without a supply event since the start of the pandemic. This week we see $120bn in coupon sales, with 3yr and 10yr auctions today and 30yr tomorrow. Perhaps the reversal from 1.25% on Thursday to 1.35% on Friday was a bit of preparation for the huge supply. DB’s Steven Zeng writes here that the broader treasury supply picture is still somewhat constrictive in the near term, and likely to stay low in July. However, this dynamic is expected to reverse after August as bill supply normalises.

It’s an eventful week ahead on the central bank side too, with four of the G20 central banks deciding on rates, including the Bank of Japan. In terms of what to expect there, our economist’s view is that they’ll maintain their present policy stance and only slightly revise their view in the quarterly outlook report. On top of those decisions, there’s also Congressional testimonies from Fed Chair Powell, who’s speaking before the House Financial Services Committee on Wednesday, and the Senate Banking Committee on Thursday, where he’ll be delivering the semi-annual Monetary Policy Report to Congress. It won’t stray too far away from the FOMC text but expect lots of questions on inflation from the various politicians.

Earnings season will begin to get going next week, with a number of US financials reporting, among others. Among the highlights include JPMorgan Chase, PepsiCo and Goldman Sachs tomorrow. Then on Wednesday we’ll hear from Bank of America, Wells Fargo, Citigroup and BlackRock. Thursday sees reports from UnitedHealth Group, Morgan Stanley, US Bancorp and BNY Mellon. Finally on Friday, we’ll hear from Charles Schwab.

In terms of the virus, the UK will continue to be watched closely today as we’ll get formal confirmation later as to whether the planned easing of restrictions will go ahead on July 19, with a press conference from Prime Minister Johnson. Attention will also focus on the Netherlands with a remarkable 800% rise in weekly cases on Saturday and to the highest levels since Christmas. The stunning rise in cases from very low levels has come after most restrictions were lifted towards the end of June with young people making up the bulk of the climb. Renewed social restrictions have again been put in place in response. This situation is certainly a concern to the opening up trade. Meanwhile in France, President Macron will be addressing the nation tonight, where he’s expected to talk about the spread of the more infectious delta variant, among other things. And on the other side of the Atlantic, the US also reported 33,933 new cases Saturday, the most since mid-May.

Overnight in Asia, equity markets have started the week on the front foot with the Nikkei (+2.20%), Hang Seng (+2.02%), Kospi (+0.96%) and Shanghai Comp (+1.58%) all moving higher, although S&P 500 futures (-0.17%) have lost ground somewhat. Data releases overnight have included Japan’s PPI reading for June, which came in at +5.0% yoy (vs. +4.8% expected), which is down slightly on the previous month’s upwardly revised +5.1%.

We also heard from ECB President Lagarde overnight where she said to Bloomberg TV that the next Governing Council meeting on July 22 would have “some interesting variations and changes”, and was “going to be an important meeting”. That follows the release of the Strategy Review last week in which they increased their inflation target to 2%, and made other adjustments including plans to further incorporate climate change considerations into the monetary policy framework. There doesn’t seem to be much in the way of market reaction to the story however, with EUR/USD down just -0.07% this morning.

Back to last week now and the main story remained the large moves in rates. Sovereign bonds rallied again and over the course of the week US 10yr yields fell -6.4bps, even with a +6.7bps rise on Friday, to end the week at 1.360% (1.248% at the Thursday lows). That was the 7th weekly decline in yields in the last 8 weeks, with the pullback last week driven mostly by a -4.7bps decline in inflation expectations. Various measures of the US yield curve are now back to mid-February levels. European sovereign bonds gained as well with 10yr bund yields decreasing -5.8bps, UK gilt yields down -4.8bps and French OAT yields down -4.1bps.

Over the last 6-8 weeks, coinciding with yields turning lower, the cyclical-over-growth trade has seen a stark reversal with technology shares in particular outperforming. A +1.13% gain on Friday led the S&P 500 to finish the week up +0.40% at a new record high even as banks (-1.45%) and energy (-3.36%) companies declined sharply on the week. The NASDAQ rose +0.43% on the week (+0.98% Friday), having now gained in 7 of the last 8 weeks. Small caps stocks struggled in particular, with the Russell 2000 declining -1.12% last week. So while the Nasdaq and S&P continue to climb to new highs, the Russell 2000 index has traded somewhat flat since its all-time highs reached in mid-March.

InEurope, equities were similarly subdued until Friday with the end-of week-rally helping the STOXX 600 increase +0.19% (+1.34% Friday), though the Italian FTSE MIB (-0.91%) and Spanish IBEX (-1.47%) saw notable losses. Asian equities struggled for a second straight week as the CSI 300 index (-0.23%) and the Hang Seng (-3.41%) in particular lagged as China proposed new rules to regulate companies seeking to IPO abroad.

end

3A/ASIAN AFFAIRS

 

i)MONDAY MORNING/SUNDAY  NIGHT: 

SHANGHAI CLOSED UP 23.75  PTS OR 0.67%   //Hang Sang CLOSED UP 170.70 PTS OR 0.62%      /The Nikkei closed UP 628.60 pts or 2.25%  //Australia’s all ordinaires CLOSED UP .79%

/Chinese yuan (ONSHORE) closed UP TO 6.4758  /Oil UP TO 73.34 dollars per barrel for WTI and 74.72 for Brent. Stocks in Europe OPENED ALL MIXED /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4758. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4784/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

/SOUTH KOREA

b) REPORT ON JAPAN

JAPAN/

 

Japan wholesale prices continue to surge as import costs hit record

Japan heading who huge consume price increases!

(Reuters)

TOKYO (Reuters) – Japanese wholesale prices continued to surge in June as import costs spiked at the fastest pace on record, data showed on Monday, a sign rising raw material costs were weighing on corporate profits.

Households may also start to feel the pinch as recent increases in oil costs are likely to push up consumer inflation in coming months, though the rebound will be more modest in Japan than in other advanced nations due to weak demand, analysts say.

The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 5.0% in June from a year earlier, Bank of Japan data showed, beating a median market forecast for a 4.7% gain.

It followed a 5.1% increase in May, which was the fastest pace of growth since September 2008, and marked the fourth straight month of year-on-year gain.

“Wholesale prices will remain under upward pressure as steady COVID-19 vaccinations continue to support the global economic recovery,” said Shigeru Shimizu, head of the BOJ’s price statistics division.

“More and more companies are being able to pass on higher costs,” mainly in sectors like steel and energy, he said.

Of the 744 items consisting CGPI, the number of items that saw prices rise in June exceeded that for price falls by 75 – up from 57 in May.

In a sign a weak yen was inflating raw material costs for firms, the yen-based import price index surged 28.0% in June to mark the fastest year-on-year gain on record.

An index gauging raw material prices jumped 49.8% in June from a year earlier, as commodities ranging from fuel oil to wood see prices spike on solid global demand.

On the other hand, domestic final goods prices – which loosely track the consumer price index – rose just 2.0% in a sign weak domestic demand was still discouraging many firms from passing on the higher costs to their corporate customers.

Japan’s economy is recovering moderately as robust exports offset some of the weakness in consumption. But a resurgent coronavirus forced Japan to declare a state of emergency in the capital Tokyo that will last through the Olympics Games, casting doubts over the strength of the recovery.

-END-

end

3 C CHINA

CHINA/

Interesting: the majority of Americans now believe that COVID was leaked from a Wuhan lab a new poll finds.

(Watson/Summitnews)

Majority Of Americans Now Believe COVID Was Leaked From Wuhan Lab, New Poll Finds

 
SUNDAY, JUL 11, 2021 – 01:30 PM

Authored by Paul Joseph Watson via Summit News,

A new Politico-Harvard study finds that a majority of Americans now believe COVID was leaked from the Wuhan lab, underscoring again the danger of empowering ‘fact-checkers’, media outlets and Silicon Valley to censor information.

The poll found that 52% of Americans believe the lab leak hypothesis, once derided as a fringe “conspiracy theory,” including 59% of Republicans and 52% of Democrats.

Bipartisan support for the theory is highly unusual, with poll designer Bob Blendon commenting, “Usually, our polls find a big split between Republicans and Democrats, so this is unique.”

“The Politico-Harvard study shows that what was once covered by liberal media as a far-right fake news story is now broadly accepted on a bipartisan basis,” reports the Daily Mail.

“By contrast, in March 2020 just 29% of Americans accepted the lab leak theory.”

Indeed, for many months the media and social media networks characterized the whole idea as a dangerous conspiracy theory and those who promoted it were censored and deplatformed.

In June 2020, Vice President Kamala Harris even claimed Donald Trump’s advocacy of the theory represented “racist and xenophobic rhetoric against Asian Americans and Asian immigrants directly puts their lives at risk.”

As we previously highlighted, Dr. Peter Daszak, President of the EcoHealth Alliance, a group that has extensive ties to the Wuhan lab gain of function research, thanked Dr. Anthony Fauci for dismissing the lab leak theory early on in the pandemic.

Daszak was also tasked by Facebook with ‘fact-checking’ (censoring) information related to the hypothesis, while Google, which via YouTube also censored information about the theory, also funded Daszak’s virus research.

The Wuhan lab leak issue once again underscores how ‘fact-checkers’, media outlets and Silicon Valley giants shouldn’t be handed monopoly power to dictate reality.

By blacklisting content related to the lab leak theory up until just a few months ago, those entities may well have been complicit in facilitating one of the biggest cover-ups in modern history.

*  *  *

Brand new merch now available! Get it at https://www.pjwshop.com/

end

CHINA VS USA

ByteDance, the owner of popular TikTok had decided to switch venues months ago from New York to Hong Kong

(zerohedge)

ByteDance Shelved New York IPO Plans Months Ago After Stern Warning From CCP

 
MONDAY, JUL 12, 2021 – 07:06 AM

Last week, CNBC was among the first to report that ByteDance, owner of social-media darling TikTok, had decided to switch the venue of its planned IPO from New York to Hong Kong. The decision would likely result in a lower valuation, but ByteDance’s management had made peace with that fact, since the CCP had made clear that it didn’t want the tech giant – which handles reams of Chinese user data, which the CCP now considers a national security risk – listing abroad.

On Monday morning, WSJ followed that up with a report confirming that ByteDance had actually made up its mind long before the disastrous IPO of Didi Chuxing, the Chinese ride-hailing app which has seen its shares lose nearly half of their value from a post-IPO high.

The company’s founder, Zhang Yiming, decided after meeting with regulators back in March.

That’s bad news for ByteDance’s many backers in both the west and east. The list includes Sequoia Capital, KKR and – of course – SoftBank. Since ByteDance isn’t burning cash by the billions like Didi is, the company isn’t facing any immediate pressure to raise money in the public markets. ByteDance has told its employees that the firm booked $19 billion gross profits last year as advertising revenue soared to $34.3 billion.

The company said back in April in a statement published to its social media accounts: “After serious research, we think the company does not fulfill the necessary requirements to go public, and currently have no such plan.” The company didn’t provide further explanation for its decision at the time.”

We already know that ByteDance was among a group of 13 tech companies summoned by China’s internet regulators back in April and warned to adhere to tighter regulation of their data and lending practices. It’s already clear that ByteDance’s trove of consumer data has lured Beijing’s interest, and the odds that it will ever list in the US are growing smaller by the day.

The company still faces scrutiny in the US, and late last week Sen. Marco Rubio told the FT that Didi’s listing was “reckless and irresponsible” and spoke out against other Chinese listings.

China said last week that it would strengthen oversight of its offshore listings, and its securities regulator is reportedly drafting rules requiring any companies hoping to list offshore to seek the explicit permission of the CPC.

END

CHINA

China at war with DIDI  (CHINA’S UBER) and it looks like that they will be going after giant TenCent for new violations. Seems that China is at war with commerce

(zerohedge)

Didi Warns Of “Negative Impact” From CCP Crackdown As Tencent Targeted For New Violations

 
MONDAY, JUL 12, 2021 – 08:09 AM

Another day has arrived, and more reports about Beijing’s retribution against Didi Chuxing, the ride-hailing service whose shares are poised to move even lower on Monday, as western media outlets recycle a report from last week about China shutting down 25 other Didi-owned apps for “the problem” of collecting personal information in violation of Chinese data security laws.

A similar headline hit late last week, but that was before Beijing on Saturday introduced a new law that would require all Chinese firms headed for an IPO to undergo a cybersecurity review. But this time around, Didi itself warned of a “negative impact” after complying with the CCP’s order to remove the apps.

The latest moves against Didi mark “an escalation in a broader campaign to curb the growing power of internet titans” according to Bloomberg.

China’s cyberspace regulator on Friday banned downloads of the services for “serious illegal collection and use of personal information.” They included the enterprise version of its core service, as well as apps covering finance and delivery.

While the app has been removed from Chinese app stores, it still works, and millions of Chinese users have continued to use the service. Didi also operates in more than a dozen markets outside China.

Source: SCMP

It’s also worth remembering that all this is happening as the Biden Administration is threatening to force new accounting rules that would effectively require all Chinese firms listed in the US to de-list (something that Beijing has slammed as discrimination).

Didi hasn’t been the sole focus of the latest Chinese crackdown. In other related news regurgitated from last week, WSJ reported more details about ByteDance and its decision to scrap its plans to list in the US.

Furthermore, Bloomberg reports that Tencent Music Entertainment Group has been ordered to surrender its “exclusive rights” to music labels, right which the company recently acquired. Tencent will also be hit with a 500,000 yuan fine. These penalties are for Tencent’s misreporting of its acquisition of two apps is the result of a probe into Tencent Music by the State Administration of Market Regulation. Over the weekend, it was reported that Beijing had blocked Tencent’s attempt to merge two of China’s biggest video-game streaming sites, Huya and DouYu.

With Didi wrapped up in the data security investigation (which could take up to six weeks to conclude) its rivals are seeing an opportunity to try and chip away at its 90% market share. Meituan, the food-delivery giant, has re-launched its ride-hailing app just as Didi’s app was being removed from Chinese app-store platforms, per SCMP.

CHINA VS USA

Chinese foreign minister states that the  USA must accept its hegemony is waning but also states that China is a long way from taking over that job

(zerohedge)

China Foreign Vice-Minister Says US Must Accept Its Hegemony Is Waning

 
MONDAY, JUL 12, 2021 – 04:15 AM

In the latest exchange of diplomatic barbs between the world’s two superpowers, on Friday China’s foreign vice-minister Le Yucheng called on Washington to accept that “American hegemony” is in decline, but insisted it will be difficult to overtake the United States even within a “relatively long period of time”.

The US is still the leading power in terms of strength but its adoption of a cold war mentality and creation of “small clubs” is a sign of ideological decline, Le told media outlet Guancha according to SCMP.

“The US decline is not a decline in strength but a decline of hegemony,” Le said. “No matter a country’s strength, hegemonic power is bound to wither, hegemony is not popular.” But he conceded that the US remains “a strong and large nation in the number one spot”, adding that “It will be hard to overtake it over a relatively long period of time.”

China’s foreign vice-minister Le Yucheng

Le said that US-led groupings like the defence-focused Quad, the intelligence-sharing Five Eyes, and the Group of Seven were all examples of Washington trying to define the “international community” when there are many more nations willing to support China’s position.

He also referred to a recent UN vote backed by 44 nations, including the US, which backed a call for the UN human rights chief to be given access to Xinjiang, where Beijing is accused of the mass detention of Muslim minorities and using forced labor. Afterwards, China said that it had won the backing of 90 nations, which had “said ‘no’ to anti-China ‘small clubs’,” according to Le. He said: “This is the international community’s voice of justice, this is real multilateralism.”

The remarks come at a time when Beijing is urging the US not to form a relationship rooted in rivalry but to continue engaging with China.

In an event marking the 50th anniversary of Henry Kissinger’s secret visit to China which set in motion the normalization of US-Sino relations, Vice-President Wang Qishan said the biggest challenge facing the US came from within rather than from China.

Meanwhile the former US secretary of state has called for serious dialogue between China and the United States to avoid “catastrophe”.

Between 1979 and 2016, US-China relations were for the most part friendly, mostly because of Washington’s policy of engagement, which assumed that integrating China into the global economy – read mass producing cheap goods which would allow the US to enjoy low prices even as its monetary policy eased for decades and made a handful of people beyond rich – would ensure that political liberalization would follow. Le said that this policy had allowed the two countries to cooperate on issues of global importance, including the 2008 financial crisis and climate change.

Le’s call comes just two days after 40 US “progressive” groups showed their true colors and sent a letter to President Joe Biden and lawmakers urging them to prioritize cooperation with China on climate change while curbing its confrontational approach to issues such as Beijing’s crackdown on Hong Kong and treatment of Uygur Muslims in Xinjiang. Because when it comes to fake social justice, these same “progressives” can’t be bothered with places where human rights are truly trampled. LIke in China.

Le also accused Biden and his administration of revealing their hegemonic view of the world order and lingering cold war mentality when they spoke of approaching China “from a position of strength”. The phrase also irked China’s foreign policy chief Yang Jiechi during his March meeting with US Secretary of State Anthony Blinken in Alaska.

“The biggest challenge faced by a superpower like the United States will always come from within, and destroying China is by no means a prescription for solving American problems,” Le said. “We hope that the United States will return to reason and the right path of dialogue and cooperation, no need to turn resisting China into a policy, nor containing China into ‘political correctness’.”

Le is viewed as a moderate voice among Beijing’s far more hawkish diplomatic corps, being the first to send an olive branch to the US after last year’s election and penning long commentaries in state-run media calling for US-China dialogue at all levels of government and among think tanks and the media. This contrast with the more aggressive rhetoric of Le’s “Wolf Warrior” colleagues, such as the foreign ministry spokespersons Zhao Lijian and Hua Chungying.

However, during the interview on Friday Le made several criticisms of the US that were similar in tone and substance to the more aggressive rhetoric of the Wolf Warriors: Le said the genocide of Native Americans was one reason why Washington’s criticisms of China’s human rights record were not credible, he also described the hypothesis that the coronavirus could have leaked from a laboratory in Wuhan as a “conspiracy theory manufactured by spies”, urging the US to clear up suspicions surrounding its own biolaboratories.

We are confident that before it’s all said and done, Peter Dazsak will be a sold advocate of the US “biolab release” theory… shortly before he defects to Beijing.

end

CHINA VS USA

USA warship enters the Paracel islands on Monday much to the anger of China

(zerohedge)

Chinese Military “Drove Away” US Warship Near Paracel Islands In South China Sea

 
MONDAY, JUL 12, 2021 – 10:15 AM

Tensions spiked in the South China Sea near the heavily disputed Paracel Islands on Monday after China’s military said it “drove away” a US warship, according to Al Jazeera

The Paracels – also called the Xisha Islands by Beijing – are claimed by numerous countries, including China, Vietnam, and the self-ruled island of Taiwan. The US sailed the USS Benfold, an Arleigh Burke-class destroyer, through the waters of the Paracels without government approval and undermined regional stability, the People’s Liberation Army’s Southern Theater Command said.

“We urge the United States to immediately stop such provocative actions,” the Southern Theater Command said in a statement.

However, the US Navy Navy 7th Fleet said the Benfold had “asserted navigational rights and freedoms in the vicinity of the Paracel Islands, consistent with international law” and rejected any claims by the Chinese that its warship had breached territorial waters. 

The 7th Fleet said “innocent passage” is the right of all vessels under international marine law as reflected in the Convention on the Law of the Sea. What this means is that permission is not required to transit. 

“The operation reflects our commitment to upholding freedom of navigation and lawful uses of the sea as a principle,” the US Navy said. “The United States will continue to fly, sail and operate wherever international law allows, as USS Benfold did here. Nothing PRC (the People’s Republic of China) says otherwise will deter us.”

Here’s the latest US Navy Update Map via Stratfor that shows the approximate current locations of U.S. Carrier Strike Groups and Amphibious Ready Groups worldwide (as of July 8). 

Beijing has firmly claimed islands within the South China Sea are there’s by heavily militarizing them. The region is expected to be rich in marine life and has significant hydrocarbon reserves. 

Meanwhile, the Pacific has been cluttered with military ships, submarines, and aircraft from countries friend and foe of the US, in a series of naval drills. Read more about war preparations here.

4/EUROPEAN AFFAIRS

GERMANY/COVID

Youtube ordered to pay 100,000 euros for censoring pandemic protest footage.  They should be thrown out of Europe and the rest of the world for that matter for censoring freedom of speech

(zerohedge)

German Court Orders YouTube To Pay 100,000 Euros For Censoring Pandemic Protest Footage

 
MONDAY, JUL 12, 2021 – 02:45 AM

YouTube has been fined 100,000 euros by the German Higher Regional Court at Dresden after it wrongly deleted a user’s video which showed massive pandemic lockdown protests in Switzerland – and then failed to reinstate the video ‘immediately’ after the court ordered it to do so on April 20.

 

Source: dpa-infocom GmbH

Instead, the company waited nearly a month to revive the video, which led to last week’s fine, issued on July 5th, according to WELT.de.

Lawyer Joachim Steinhöfel, who represents the account operator, considers the court’s decision to be a guideline for freedom of expression on the Internet. “With the historically high fine, the Higher Regional Court makes it very clear that court decisions must be observed without restriction, regardless of whether YouTube assumes a violation of its guidelines or not,” said Steinhöfel. -Welt.de (translated)

YouTube, however, doesn’t seem phased. A spokesman told WELT, “We have a responsibility to connect our users with trustworthy information and to combat misinformation during Covid-19. This is a decision on a case-by-case basis that we respect and will review accordingly.”

The protest video was deleted at the end of January, with YouTube citing its “Policy on medical misinformation about COVID-19,” however the court rejected their reasoning, concluding in part that the company’s amended guidelines had not been sufficiently conveyed to the account operator – and that a literal amendment to the user agreement is required for this. The mere indication that changes may occur surrounding their COVID-19 policies is not enough.

end

UK/CORONAVIRUS/LOCKDOWN

Insane: 40% of Brits want mask mandates to remain in place forever.  Half believe that unvaccinated people should be permanently banned from foreign travel.

(Summit News/Watson)

40% Of Brits Want Mask Mandates In Place Forever, Unvaccinated Permanently Banned From Foreign Travel’ New Poll Finds

 
MONDAY, JUL 12, 2021 – 03:30 AM

Authored by Paul Joseph Watson via Summit News,

A new poll finds that 40 per cent of Brits want mask mandates to remain in place forever, while almost half think unvaccinated people should be permanently banned from foreign travel.

Yes, really.

“New polling by Ipsos MORI for the Economist suggests that a high percentage of Brits believe a number of lockdown restrictions should stay in place “permanently”, including nighttime curfews (19%), travel quarantine (35%), and face masks (a whopping 40%!),” reports LockdownSceptics.

“Well over 40% of Brits also believe that only those who have been vaccinated against Covid – and are able to prove it – should be allowed to travel abroad (again, “permanently”).”

In other words, almost half of the population never want to unmuzzle and think those who haven’t taken the jab should remain under de facto lockdown forever.

That will be music to the ears of government adviser and lifetime Communist Party member Susan Michie, who when asked how long social distancing and mask mandates should remain in place, replied “forever.”

More than one-fifth of Brits are also “very nervous” about the lifting of existing lockdown restrictions, which is due to take place on July 19th.

The results of the poll once again underscore how behavioral psychologists have been so successful in terrifying the British public into absolute subservience.

As we previously highlighted, scientists acting as government advisers acknowledged using “totalitarian” and “unethical” methods of instilling fear into the population as a means to scare them into complying with lockdown rules.

The comments were made by members of the Scientific Pandemic Influenza Group on Behaviour (SPI-B), a sub-committee of the Scientific Advisory Group for Emergencies (SAGE) the government’s chief scientific advisory group.

Scientists admitted exaggerating the risk of COVID to the public and using “dystopian” methods of “mind control” to make people more fearful than they should have been.

As the poll results prove, this has resulted in large numbers of the population developing a form of PTSD which has traumatized them out of thinking life can ever return to the pre-coronavirus normal.

“What kind of nation have we become?” asks Michael Curzon.

Meanwhile, Britain’s political and celebrity elite continue to flagrantly violate the very same rules they aggressively demand everyone else follow.

*  *  *

END

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/USA

 

AFGHANISTAN//TALIBAN/

NONE

 

6.Global Issues

CORONAVIRUS UPDATE/VACCINE//

from the Daily Expose//ADE at work?

Although the numbers are small there is a bit of concern that more vaccinated people are dying from covid. It may mean that we are witnessing the beginning of antibody-dependent-enhanced or ADE at work..!!

(Daily Expose)

Comments from the son:

“The new data are out in the UK and they are pretty terrible with respect to fully contaminated I mean vaccinated people and the delta variant. The death rate continues to climb quickly for the vaxxed and it is several times that as the unvaxxed. Hopefully this is not evidence of ADE. It could also be that natural immunity is being out-competed by faulty specific immunity (antibodies not binding). ADE is a catastrophe and it is probably just a matter of time before we see it.

I’m not sure where Fauci and Walensky come up with this figure that 95% or 99% or whatever of the deaths are in unvaxxed people. They still have not shared the raw data on that  and it does not jibe with what we are seeing in UK and Israel.

This winter is going to suck. I think a lot of vaxxed people are going to die. They are going to blame it on the critical thinkers who are not going to contaminate themselves and their kids with the spike protein injection.”

https://dailyexpose.co.uk/2021/07/09/fully-vaccinated-people-have-a-990-higher-chance-of-death-due-to-covid-19-than-people-who-are-unvaccinated-according-to-latest-public-health-england-data/

Fully vaccinated people have a 990% higher chance of death due to Covid-19 than people who are unvaccinated according to latest Public Health England data

Listen Now
 
 
 

Many members of the British public have been crying into their pillows this week as the prime minister Boris Johnson announced social distancing and mask wearing will end July 19th 2021, despite a surge in alleged cases of the Delta Covid variant.

A variant which the very people campaigning for restrictions to continue are fearful of, and they’re right to be… if they are fully vaccinated.

Because the latest report from Public Health England has revealed that those who have had two doses of a Covid-19 vaccine have a 990% higher chance of dying of Covid-19 than those who are unvaccinated.


 

Boris announced “some” restrictions will “probably” end “temporarily” on the 19th July which prompted those who have fallen hook, line, and sinker for the propaganda and psychological manipulation to declare their outrage all over social media.

One person even started a petition the following day demanding the Government keep the legal requirement to wear a face covering in shops and supermarkets after July 19th. It has received over 170,000 signatures.

These are the very same people that we can be certain have taken the opportunity to unwittingly take part in the largest experiment ever conducted on humanity by “getting the jab when they get the call to do so”.

Unfortunately for them by doing so they have just increased their chances of dying due to the alleged Covid-19 disease by an eye-watering 990% according to the 18th technical briefing on SARS-CoV-2 variants of concern released by Public Health England.

The PHE report which can be viewed here shows that between the 1st February 2021 and the 21st June 2021 a total of 123,620 confirmed cases of the Delta variant had been confirmed.

Of these 58.1% were people who had not been vaccinated, totalling 71,932.

A further 8.76% were people who had received both doses of a Covid-19 vaccine, totalling 10,834.

A further 14.5% were people who had received one dose of a Covid-19 vaccine at least three weeks prior to testing positive for the Delta Covid variant, totalling 17,933.

And a further 6.9% were people who had received one dose of a Covid-19 vaccine less than three weeks prior to testing positive for the Delta Covid variant, totalling 8,562.

According to the report the number of positive cases of the Delta variant in the unvaccinated outnumber the number of cases seen in the fully vaccinated by around 6.6 to 1, giving the impression the Covid-19 vaccines are working.

However, when taking the total number of positive cases in people who have received at least one dose of a Covid-19 vaccine – 37,329, we can see they actually outnumber the number of cases in people who are unvaccinated by around 1.9 to 1. So not working as fantastically as Public Health England would have you believe.

There are, however, still more alleged cases of the Delta variant occurring in the unvaccinated. So, the real question is are the Covid-19 jabs doing what they are allegedly meant to do? By preventing hospitalisations and deaths.

The above table shows that of the 71,932 alleged cases of the Delta variant in people who are unvaccinated, 1,182 people presented to emergency care which resulted in overnight admission to hospital. This translates to 1.6% of cases resulting in an overnight hospital stay in emergency care.

The above table also shows that of the 10,834 alleged cases of the Delta Covid variant in people who are fully vaccinated, 313 people presented to emergency care which resulted in overnight admission to hospital. This translates to 2.9% of cases.

This means that the chances of being hospitalised with Covid-19 increase by 81.24% if you have had two doses of a Covid-19 vaccine, according to the Public Health England data.

This is close to the same percentage of reduction to the risk of hospitalisation the Covid-19 vaccines are claimed to give. It looks like that claim is unfounded.

Unfortunately, it gets much worse for the fully vaccinated when it comes to their risk of dying due to Covid-19.

The above table shows that of the 71,932 alleged cases of the Delta variant in people who are unvaccinated, just 92 sadly died. This translates to 0.1% of cases.

The above table also shows that of the 10,834 alleged cases of the Delta Covid variant in people who are fully vaccinated, 118 people sadly died. This translates to 1.09% of cases.

The means the data published by Public Health England shows us that people who have received two doses of a Covid-19 vaccine have a 990% higher chance of dying due to the Delta Covid variant than people who are unvaccinated.

The authorities claim the Covid vaccines reduce the risk of dying with Covid-19 by around 95 – 99%. It looks like their own data has just caught them in a lie.

Is this evidence of antibody-dependent enhancement? (ADE)

end

No comments necessary!

 

Gillian McKeith (@GillianMcKeith) Tweeted:
The Transport Secretary actually says: “We know that double vaccinated, fully vaccinated people  are much more likely to get coronavirus!!!!!!https://t.co/j98K2TGJs1
https://twitter.com/GillianMcKeith/status/1413413828877078529?s=20

end

New figures released shows that from the beginning only 25 died from COVID but much more more suicide and trauma

(Watson/SummitNews)

Just 25 ‘Under 18s’ Died From COVID In England, 100s Died From Suicide And Trauma

 
SATURDAY, JUL 10, 2021 – 08:10 AM

Authored by Paul Joseph Watson via Summit News,

New figures released by researchers in the UK show that just 25 under-18’s died from COVID from March 2020 to February 2021, two-thirds of whom had “chronic” health conditions, and that lockdown measures aimed at children “may prove a greater risk than that of SARS-CoV-2 itself.”

The numbers show that there is around a 1 in 500,000 chance of children dying from coronavirus in England, and that includes victims of pre-existing medical conditions, like heart disease and cancer.

“More than 75 per cent of the children who died had chronic conditions, while two thirds had more than one underlying condition and 60 per cent had life-limiting conditions,” reports the Daily Mail.

During the same time period, 124 children died from suicide and 268 died from trauma.

Studies conducted by researchers at University College London, the University of York and the University of Liverpool found that lockdown measures which remove children from social environments “may prove a greater risk than that of SARS-CoV-2 itself.”

The numbers should inform the government when it comes to considerations of the pros and cons of vaccinating children, although don’t expect the story to receive much wider media attention.

Earlier this year, experts in the UK warned that isolation and depression caused by lockdowns had created a “mental health pandemic.”

According to mental health experts in Australia, COVID-19 lockdowns were found to have been a major contributing factor in a doubling in the number of youth suicides.

end

It is about time: Rand Paul will introduce a bill to scrap mask mandate farce on planes

(Watson/SummitNews)

Rand Paul Says He Will Introduce Bill To Scrap Mask Mandate “Farce” On Planes

 
SATURDAY, JUL 10, 2021 – 04:30 PM

Authored by Steve Watson via Summit News,

Senator Rand Paul declared Thursday that he intends to introduce legislation that would scrap mask mandates, specifically on planes, calling the practice a ‘farce’.

Paul noted that he intends to seek a repeal of Joe Biden’s executive order mandating masks on public transit.

Paul tweeted that he will seek “immediate repeal of the mask mandate on planes” when the Senate reconvenes next week, adding, “let people travel in peace!”

The Transportation Security Administration has decided to continue its mask mandate at least into September, with fines for those who fail to comply.

According to reports, the FAA has handed out fines to unruly travelers totaling $682,000 this year alone.

Paul has consistently railed against the mask mandate, previously calling it a strategy of government “fear mongering,” “security theater,” and calling for Biden to burn his mask on live TV.

Last week, Paul made an assertive case for natural immunity and the misinformation on the matter that is coming from the government in indiscriminately pushing vaccinations:

 

The Senator also made his feelings clear this week regarding Biden’s door to door vaccination “strike forces”.

 

end

Comments from my son Mark

“Israeli data looks a lot like the UK. Vax provides increasingly zero protection against new variants, all you get for taking a vax is risk, no benefit. At least no medical benefit. I think that the brutal coercion to take one of these injections is around the corner, meaning that the rights of uncontaminated people will be limited unless the lawyers are successful in defeating this apartheid.

 

The US and Canadian claims that it is 95-99% unvaxxed dying in hospital are totally anomalous and I think likely bullshit. There is no raw data to back up these claims and it doesn’t match what we are seeing in Israel, UK and Seychelles which are all highly vaccinated countries.

Mind you these are case data which I am less interested in than ICU and death data which are more difficult to fudge. Although they are definitely getting fudged. Even with monkeying around with the death data in USA, the # of vaccine related deaths is about doubling every 2 weeks currently.”

 
 
 
end
It is about time:  Europe’s drug regulator now urges heart condition must be added to list of potential side effects or mRNA COVID vaccines.  This is true:  the spike protein travels through the blood and settles in 4 major areas
 
i) bone marrow
ii) lungs
iii heart
iv) brain
and in females:  the ovaries
 
Nobody on the press side wants to question the authorities on how the vaccine sloughs off the spike protein and it is this protein which is causing damage to our major organs.
The pundits are now recognizing that the spike protein settles on the ACE2 receptors of the heart which creates myocarditis. And there is no such thing as mild myocarditis…heart cells live only once and cannot be replaced.
(zerohedge)

Europe’s drug regulator urges heart condition to be added to list of potential side effects of mRNA Covid vaccines

Europe’s drug regulator urges heart condition to be added to list of potential side effects of mRNA Covid vaccines
The European Medicines Agency (EMA) has found a link connecting mRNA vaccines, such as Pfizer and Moderna, to rare heart conditions following inoculation, and has recommended that these side effects are listed.

The EMA published its findings that there is a risk of heart inflammation conditions – myocarditis and pericarditis – following the administration of mRNA Covid vaccines on Friday in the meeting highlights from the Risk Assessment Committee, with the body calling on the side effects to be made known to the public.

ALSO ON RT.COMI’m no anti-vaxxer but there’s obvious corruption in how mRNA vaccine complications are downplayed compared to other jabs

The EMA had conducted a comprehensive review of 164 cases of myocarditis in the European Economic Area (EEA), alongside 157 cases of pericarditis following the use of Pfizer and Moderna.

However, according to the medicinal regulatory body, these cases represent only a minute number, as some 200 million doses of these two mRNA vaccines have been administered across the EEA since the end of May.

ALSO ON RT.COMUS health officials admit unexpected heart problems in teens, but insist mRNA Covid-19 vaccines are SAFE & EFFECTIVE

The EMA is not alone in reporting cases of myocarditis and pericarditis, as the US Centers for Disease Control and Prevention found that since April 2021 there have been over a thousand incidences of reported inflammation of the heart after inoculation with the mRNA vaccines in the country. These reports were most commonly from young people – with some cases in adolescents under the age of 16.

Both conditions are inflammations of the heart, with myocarditis impacting the muscle, and pericarditis the outer lining. Symptoms are typically breathlessness, irregular heart palpitations, and chest pain.

end
 
Following the administration of vaccines, we are witnessing a jump of 2,000 deaths in one week according to VAERS data
 
(courtesy of the Defender/Megan Redshaw)

Number of Deaths Reported After COVID Vaccines Jumps by More Than 2,000 in 1 Week, According to VAERS

VAERS data released today by the CDC showed a total of 438,441 reports of adverse events from all age groups following COVID vaccines, including 9,048 deaths and 41,015 serious injuries between Dec. 14, 2020 and July 2, 2021.

The Defender is experiencing censorship on many social channels. Be sure to stay in touch with the news that matters by subscribing to our top news of the dayIt’s free.

Data released today by the Centers for Disease Control and Prevention (CDC) included 9,049 reports of deaths, across all age groups, following COVID vaccines — an increase of more than 2,000 compared with the previous week. The data comes directly from reports submitted to the Vaccine Adverse Event Reporting System (VAERS).

VAERS is the primary government-funded system for reporting adverse vaccine reactions in the U.S. Reports submitted to VAERS require further investigation before a causal relationship can be confirmed.

Every Friday, VAERS makes public all vaccine injury reports received as of a specified date, usually about a week prior to the release date.

Data released today show that between Dec. 14, 2020 and July 2, 2021, a total of 438,441 total adverse events were reported to VAERS, including 9,048 deaths — an increase of 2,063 over the previous week. There were 41,015 serious injury reported during the same time period — up 6,950 compared with last week.

 
end
 
Dr  Peter McCullagh interviewed: a must view
 
The Truth About COVID-19 | A Bestselling Book by Dr. Joseph Mercola | Order Now
 
 

STORY AT-A-GLANCE

  • Perhaps one of the greatest crimes in this whole pandemic is the refusal by reigning heath authorities to issue early treatment guidance. Instead, they’ve done everything possible to suppress remedies shown to work, whether it be corticosteroids, hydroxychloroquine (HCQ) with zinc, ivermectin, vitamin D or NAC
  • According to Dr. Peter McCullough, 85% of COVID deaths could have been prevented had early treatment protocols been widely implemented rather than censored
  • It appears the intense censoring and suppression of early treatments was a strategy to promote as much fear, suffering, hospitalization and death as possible in order to prepare the population to accept a new genre of gene transfer technologies on a mass scale
  • The overwhelming drive to get a “needle in every arm” is such that health authorities are not even acknowledging the fact that those who have recovered from COVID-19 and many groups have no possibility of benefiting from the vaccine, including younger individuals, pregnant women, women of childbearing potential, and those with immunodeficiencies
  • Despite FDA warnings for myocarditis with Pfizer and Moderna and cavernous venous thrombosis with Johnson & Johnson, the vaccine cabal keeps propaganda on full blast

In this interview, Dr. Peter McCullough discusses the importance of early treatment for COVID-19, and the potential motivations behind the suppression of safe and effective treatments.

McCullough has impeccable academic credentials. He’s an internist, cardiologist, epidemiologist, a full professor of medicine at Texas A&M College of Medicine in Dallas. He also has a master’s degree in public health and is known for being one of the top five most-published medical researchers in the United States and is the editor of two medical journals.

for the rest of the article:

https://articles.mercola.com/sites/articles/archive/2021/07/11/early-treatment-for-covid.aspx?ui=57bebb78b8e61ae55076037f436d72b0b90ce05dfddde2e9810675169ada12a8&sd=20210131&cid_source=dnl&cid_medium=email&cid_content=art1ReadMo

end

This is deadly to us:  CNN doctor says it is time to start mandating COVID vaccines

Watons Summit|News)

Watch: CNN Doctor Says It’s “Time To Start Mandating” COVID Vaccines

 
SUNDAY, JUL 11, 2021 – 04:30 PM

Authored by Steve Watson via Summit News,

CNN ran a broadcast Thursday with its own medical analyst Dr. Jonathan Reiner declaring that it is “time to start mandating” coronavirus vaccines for all Americans to counter people opting not to take the shots.

CNN host Erin Burnett said to Reiner “when you look at this in the broader context, there’s still a third of the eligible population in the United States that hasn’t got a single dose.”

“Given where things are going, is it time to move on from saying please to mandating?” Burnett asked.

Reiner replied “I do think it’s time to start mandating vaccines. And I think that the private industry and private organizations will do that.”

“At GW university, where I work, starting in fall, you can’t be on campus unless you’re fully vaccinated,” Reiner added.

He continued, “We’re at the part of the pandemic now where the problem in this country is that 150 million Americans are not vaccinated. Half of that number is less than 18 years of age. But let’s look at the adults. Seventy-five-million adults have chosen not to get vaccinated. That choice has consequences.”

Reiner noted that the government cannot physically force vaccinations on people (for now), but advocated making it basically impossible for those who choose not to take it to live their lives normally.

“Now, we can’t force you to take a jab in the arm,” Reiner said, adding “But there are many jobs, perhaps, that can prevent you from working if you decide not to get vaccinated. So I think we need to be more proactive, and we will see industry take the lead in this.”

Watch:

Earlier in the day, CNN hosted Health and Human Services Secretary Xavier Becerra, who said that “it is absolutely the government’s business” to know if Americans have been vaccinated.

In a telling statement, Becerra said “We want to give people the sense that they have the freedom to choose, but we hope they choose to live.”

Meanwhile, over at MSNBC they took things a step further with anchor Chris Hayes declaring that everyone who has scepticism about the efficacy of vaccines and opts not to take them are “cowardly.”

Hayes blamed the ‘right wing media’, proclaiming “You saw some of it there, people of the most conservative parts of the country turning against the vaccine. The leaders of this movement are cowardly. They refuse to have the courage of their convictions. They will not come out and say they are against the vaccine. Instead, they take this straw-man stance saying they’re just against anyone trying to promote the vaccine or heaven forbid mandate it.”

He continued, “So on the ‘Fox & Friends’ and others on the right say they don’t want anybody try to convince them to take the shot. They don’t want it mandated. They just want it out there. What they’re saying is you don’t want people to get the vaccine. Come out and say it, but they won’t say it. Because that means you want people to die. Those are the options right now.”

Tucker Carlson, whom MSNBC’s Hayes also targeted in his rant, said Thursday that the Biden administration is “no longer pro-choice” when it comes to vaccines.

“It’s so obviously unnecessary that it’s vindictive, and it makes you wonder, what is this really about?” Carlson said, adding “Medical privacy, physical autonomy, the right to control the medicines you take. These are the pillars of medical ethics, officially, or were. They no longer are.”

“Tony Fauci has declared [these pillars of medical ethics] merely a political statement,” Carlson continued.

The host further noted, “They’re telling you that you’ll wind up in a government database if you don’t comply, and that government agents could be showing up and knocking on your door. What is happening? What is this about?”

White House Press Secretary Jen Psaki, who declared earlier this week that the Biden administration is to send “strike forces” to people’s homes to ensure children get vaccinated, decreed Thursday that criticism of the plan is a “disservice to the country.”

end

More and more data confirms that the risk of COVID 19 attacking children is very low

(Lee/Epoch Times)

More Data Confirms Risk Of COVID-19 Death, Serious Illness Very Low In Children

 
MONDAY, JUL 12, 2021 – 12:30 PM

Authored by Meiling Lee via The Epoch Times,

The risk of death or severe illness from COVID-19 in teenagers and children is extremely low, according to three new studies from the United Kingdom.

The studies provide the most detailed analysis to date on the impact of the CCP (Chinese Communist Party) virus on children and confirm earlier findings for those aged 18 and younger: that they are at very low risk of becoming severely ill or dying from the disease.

Researchers from the University of Liverpool, the University College of London, the University of York, and the University of Bristol published their pre-print studies, which are in the process of being peer-reviewed, online on July 8. Two of the studies analyzed the risks of severe illness and death from COVID-19, while one focused only on deaths.

The preliminary findings will be submitted to the World Health Organization and the UK’s Joint Committee on Vaccination and Immunization, which is still considering whether to expand the use of Pfizer’s COVID-19 vaccine to children aged 12 to 17 in the country. All four COVID-19 vaccines authorized for use in the UK are only for people 18 and older.

Russel Viner, a senior author on two of the studies and a professor of adolescent health at the University College London’s Great Ormond Street Institute of Child Health, said that the findings “will inform shielding guidance for young people as well as decisions about the vaccination of teenagers and children, not just in the UK, but internationally,” according to a statement.

While the studies did not include information specific to the effects of the Delta variant, there is currently no evidence that it causes more severe disease or death in children.

“Although this data covers up to February 2021, this hasn’t changed recently with the Delta variant,” said Dr. Elizabeth Whittaker, senior clinical lecturer in pediatric infectious diseases and immunology at Imperial College London. “We hope this data will be reassuring for children and young people and their families.”

Deaths Rare, Mostly in Children with Underlying Health Conditions

In the study that focused on deaths only, researchers analyzed England’s national databases, including the mandatory National Child Mortality Database, to identify all children under 18 who have died as a result of COVID-19 between March 2020 to February 2021.

During the first year of the pandemic in England, of the 3,105 children who had died from all causes, 61 were children who had tested positive for the CCP virus.

But after “differentiating between those who died of SARS-CoV-2 infection and those who died of an alternative cause but coincidentally tested positive,” the researchers determined that only 25 of the 61 children had died of COVID-19 in a population of over 12 million children.

This equated to a mortality rate of about two in a million.

SARS-CoV-2 is the scientific name for the CCP virus that causes the disease COVID-19.

Montenegrin schoolchildren wearing protective masks to prevent the spread of the Covid-19 in Podgorica, on Sept. 30, 2020. (Savo Prelevic/AFP via Getty Images)

Of the 25 children who died with COVID-19, 15 had a life-limiting condition, 16 had multiple comorbidities, and 19 had an underlying chronic health condition.

The researchers found that the “comorbidity group at highest risk [for death] were those with complex neurodisability, who comprised 52 [percent] of all deaths” in children who died of COVID-19.

“Those young people at higher risk are those who are also at higher risk from any winter virus or other illness—that is, young people with multiple health conditions and complex disabilities,” Viner said. “COVID-19 does, however, increase the risks for people in these groups to a higher degree than for illnesses such as influenza (seasonal flu).”

Only six (24 percent) of the 25 COVID-19 deaths appeared to not have underlying health conditions.

In addition, the researchers found no deaths in children with an isolated diagnosis of a respiratory condition like asthma, type 1 diabetes, down syndrome, or epilepsy.

However, the researchers noted that “during the same time period studied, there were 124 deaths from suicide and 268 deaths from trauma, emphasizing COVID-19 is rarely fatal” in children and teenagers.

Underlying Health Conditions Increase Risk of Severe Illness

different study that examined “81 existing studies assessing risk factors for severe illness and death from COVID-19 among young people” found that pre-existing health conditions and severe disabilities increased the risk of severe disease.

Children who had a heart or neurological condition, more than one medical condition, or were obese were at higher risk. However, the absolute risks were still small even when compared to children without comorbidity.

“It’s important to remember that the risks are very low for all children and young people,” said Lorna Frasier, professor of epidemiology at the University of York and senior author of the study. “Even when we found higher risks for some groups with severe medical problems, these risks were still very small compared to risks seen in adults.”

“Our meta-analysis found similar risk factors to the other studies, although we also found that obesity increased the risk of severe COVID-19 illness, something we’ve known for some time in adults but is only now becoming evident as an important risk in children and young people too,” said pediatric surgeon Dr. Rachel Harwood who is the lead-author of the study.

Hospitalizations Remain Low Overall

In a third study (pdf) that examined risk factors for death and intensive care admission, researchers concluded that children and teenagers were at “very low risk of severe disease and death from COVID-19 or PIMS-TS [pediatric inflammatory multisystem syndrome-temporarily associated with SARS-CoV-2].”

Researchers found that, of the 5,830 children admitted to the hospital with COVID-19, 251 were admitted to the intensive care unit (ICU) in England during the first year of the pandemic, up until the end of February 2021. This equated to children “having a one in approximately 50,000 chance of being admitted to intensive care with COVID-19 during that time.”

Within the same period, more than 367,000 children were admitted to the hospital for other causes.

Of those 251 admitted to the ICU, 91 percent (n=229) had an underlying health condition or comorbidity. Those at greatest risk were children with multiple medical conditions and neurological disorders.

“This pattern is described in previous work, and is consistent with our meta-analysis of the published data, where each increase in the number of pre-existing conditions was associated with increased odds of PICU [pediatric intensive care unit] admission and death for COVID-19,” the authors wrote.

The authors also found that 309 children were admitted to the ICU with PIMS-TS, a rare inflammatory condition in children due to COVID-19, “equating to an absolute risk of one in 39,000.”

“It is reassuring that these findings reflect our clinical experience in hospital—we see very few seriously unwell children,” Whittaker said.

CDC Still Recommending Masks for Unvaccinated Students

A day after the studies were published online, the U.S. Centers for Disease Control and Prevention (CDC) released updated guidance on how to prevent COVID-19 in K-12 schools, saying that cloth masks and physical distancing of three feet were still recommended for students who are not fully vaccinated when indoors.

Other preventative measures recommended by the CDC include the promotion of vaccines among students, screening tests to identify those who are infected, improving ventilation, contact tracing, and proper hand hygiene.

“Vaccination is currently the leading public health prevention strategy to end the COVID-19 pandemic,” the CDC said, adding that the promotion of “vaccination can help schools safely return to in-person learning as well as extracurricular activities and sports.”

COVID-19 vaccines have been recommended for adolescents aged 12 to 15 years in the United States since May.

Max Zito, age 13, is inoculated by Nurse Karen Pagliaro at Hartford Healthcare’s mass vaccination center at the Connecticut Convention Center in Hartford, Connecticut on May 13, 2021. (Joseph Prezioso/AFP via Getty Images)

In June, the CDC continued its recommendation of emergency use-approved messenger RNA COVID-19 vaccines to everyone 12 years and older despite higher than normal reports of heart inflammation in young men following an mRNA vaccine, citing that the benefits of the vaccine outweighs the risk of heart inflammation.

The one-size-fits-all approach and rush to vaccinate healthy children and teenagers without adequate safety and efficacy data has been concerning to some doctors and parents, as the risk of severe illness or death is extremely low for this age group. Furthermore, young children have not been reported to be superspreaders of the CCP virus.

Viner in an opinion piece published in The Guardian said that public health officials should wait until there is enough safety data before vaccinating healthy teenagers.

“I believe it is reasonable to now offer to vaccinate teenagers with chronic diseases and medical conditions that make them more vulnerable. As for healthy teenagers, let’s first use our vaccine supplies to raise adult vaccination levels as high as possible, provide boosters for the elderly and fulfill our promises to provide vaccines for poorer countries. Then, we should vaccinate healthy teenagers once we have adequate safety data—but for this we must wait,” he wrote.

The Epoch Times has reached out to the CDC for comment on whether its recommendations also apply to children who have recovered from COVID-19 and have natural immunity

 

end.

The FDA adds a warning of a rare nerve condition to the J and J vaccine.

Guillain-Barre disease is when your immune system attacks the nervous centre.

FDA to Add Warning of Rare Nerve Condition to J&J Vaccine

(Zachary Evans/National Review) 

and a special thanks to Chris Powell for sending this over to us!

FDA to Add Warning of Rare Nerve Condition to J&J Vaccine

 

A Johnson & Johnson building is shown in Irvine, California, January 2017. (Mike Blake/Reuters)
 
 

The Food and Drug Administration will attach a label to the Johnson & Johnson coronavirus vaccine warning of a slightly increased risk of a rare nerve disorder known as Guillain-Barre syndrome.

Just 100 out of about 12,800,000 Americans who received the Johnson & Johnson vaccine developed the neurological condition. However, the FDA chose to add a warning label because the risk of developing Guillain-Barre syndrome is believed to be roughly three to five times higher in those who have taken the Johnson & Johnson vaccine.

“It’s not surprising to find these types of adverse events associated with vaccination,” Dr. Luciana Borio, a former acting chief scientist at the FDA, told the New York Times. The vaccine’s benefits “continue to vastly outweigh the risks.”

Most Americans have received vaccines by Pfizer-BioNTech and Moderna, which are administered in two shots over several weeks. The Johnson & Johnson vaccine is one shot, and the Biden administration has exported limited quantities to other nations. The company is planning to give up to 400 million doses to the African Union.

Federal agencies temporarily halted administration of the Johnson & Johnson vaccine in April, to investigate a rare clotting disorder among six recipients of the vaccine out of seven million American recipients in total at the time. The pause appears to have contributed to reduced demand for the vaccine.

end

Michael Every on the major global issues facing the world today: 

 

Michael Every… 

Rabobank: Biden’s EO Marks A Remarkable Shift In The Overton Window

 
MONDAY, JUL 12, 2021 – 09:55 AM

By Michael Every of Rabobank

The Biden-Off Spread

Several very important things happened on Friday which need to be unpacked.

The PBOC cut banks’ Reserve Requirement Ratio (RRR) 0.50%, as the State Council had flagged, and despite credit and money-supply data picking up: aggregate financing was CNY,3670bn vs. CNY2,890bn expected, new CNY loans 2,120bn vs. 1,850bn, M0 6.2% y/y vs. 5.5%, and M2 8.6% y/y not 8.2%. To repeat, this is not a bullish/reflation signal and will have no impact if loan demand in the most productive sectors of the economy is not rising – and the China Beige Book says it isn’t. Of course, that does not stop Reuters and China bulls cheerily saying the RRR cut “frees up $154bn for banks to underpin economic recovery”. If people want it, that is.

China further tightened the screws on DiDi, removing it from more app stores, and issued a new rule that the cyber-securities regulator must review foreign IPOs for any business holding data of more than a million users in China to rein in potential national security risks. This is seen as a wake-up call for US capital that was somnolent over the risks of Chinese stocks; however, the same money still has no issue with Chinese bonds; and let’s see how long the equity ire holds if future IPOs now just happen in Hong Kong instead. On the other side of the new ‘tech wall’, the US placed 23 more Chinese firms on its Entity List for suspected Xinjiang human rights abuses and military ties: and Congress is still moving forwards with a sweeping bill that would block all exports from Xinjiang.

Moreover, the White House issued an Executive Order (EO) on anti-monopoly issues, which the market took as a nothing burger because: the press release started “The economy is booming under President Biden’s leadership,” which runs counter to the need for the Biden stimulus plans; one bullet was the aim to reduce the cost of household broadband, as powerful a political message as that 4 July cook-outs were 16 cents cheaper this year; and as the EO was 72-points long. Let me let you into a little secret: Mr Market won’t read that much text. He makes up his mind on the headline alone, and he saw nothing to stop running away from reflation trades.

Nonetheless, like the rest of the Biden agenda so far, the EO is a remarkable shift in the Overton Window in terms of language and economic and market implications – if acted on. As The Nation put it, Biden “forcefully rejected the pro-monopoly world view of the last 50 years, issued 72 directives to over a dozen executive agencies, and created a council to ride herd on agencies to make sure they do their job in rulemaking to achieve this vision…If Biden keeps going down this road, it suggests a massive realignment for the Democratic Party and a return to the 1940s–1970s attitude towards corporate concentration.”

Matt Stoller – author of ‘Goliath’, which focuses on the deflationary, anti-growth and productivity damage that corporate monopolies do – says the EO could be window dressing. However, he notes that behind the president, smiling, as he signed the EO was Lisa Kahn of the FTC, who subsequently tweeted: “This is an all-hands-on-deck moment to address unchecked market concentration and promote fair competition. I look forward to working with my fellow commissioners and partners across federal government to use our full suite of antimonopoly tools and advance this key mission.”

And to help Mr Market out, The Nation adds: “One key anti-monopoly question still remains for the president: his choice as the assistant attorney general, Antitrust Division…The leading candidate who represents this vision is Jonathan Kanter…if he hedges his bets, and chooses someone more aligned with the antitrust establishment of the last 40 years, he risks creating conflict and tension that will drag down these vital efforts.” So let’s see.

From the specific name of Kanter to the bigger picture, let’s take just a moment to step back and understand that even as Mr Market is screaming ‘New Normal!’ again, we have a White House which is talking back 40 years of Bork-ian pro-monopoly US rhetoric, and which in just six months has also:

  • Put forward a $2.3 trillion American Jobs Plan and a $1.9 trillion American Families Plan;

  • Proposed post-Covid Federal spending of $6 trillion in 2022 and $8.2 trillion by end-2031 – double what it was before 2017, and 33% above 2022’s level;

  • Backed a full employment target, the president stating: “When it comes to the economy we’re building, rising wages aren’t a bug; they’re a feature….instead of workers competing with each other for jobs that are scarce…we want the companies to compete to attract workers.”;

  • Used classical (not neo-classical) economics terms like Labor vs. Capital;

  • Maintained ‘un-American’ Trump trade tariffs and added more Chinese firms to the Entity List;

  • Promised that “100% of our investment is going to be guided by one principle: Make it in America.”;

  • Pledged to address supply-chain resilience, stating the US aims to “lead the world in exports of these new technologies instead of ceding the global market and job creation to the Chinese”;

  • Backed a global ‘B3W’ rival to China’s Belt and Road;

  • Pushed for a 15% global minimum corporate tax rate; and

  • Retained the ability to appoint a new Fed Chair and FOMC members in the near future, potentially influencing the tone for monetary policy going forwards.

To be abundantly clear, the above is an apolitical, non-partisan list, rather than flag-waving or finger-pointing. Moreover, there is a huge ‘Yes, but’ – most obviously with fiscal stimulus, which is log-jammed, and with clear carve-outs on the 15% global corporate tax. Yet overall, Mr Market clearly takes the view that in reality Biden offers the spread of more neoliberalism.

I don’t want to jump in front of that steamroller, and fully agreed earlier this year that rising US bond yields would go down, not up, and the falling US Dollar up, not down. Indeed, back in early 2016 (in ‘Thin Ice’) I argued just how much the global establishment would resist any changes to neoliberal policies because, like a table, once one leg is removed, the whole thing topples over; but I also argued the table legs were getting very wobbly – and everyone in power seems to agree on that part.

Today, all the neoliberal table’s legs are being sawed at – rhetorically in the US, and via actions in China – even if Wall Street and global corporates are straining to hold the table up with their bare hands.

As I have said before, talk is cheap – and so are imports, outsourced labor, and monopsony purchase prices. But let’s see if key US appointments are made to allow the promised structural changes to be pushed through: and if they are, imagine what the Biden-offer spread might look like in some key assets.

Don’t Kanter your neoliberal, corporate-friendly, low-flation chickens before they are hatched?

end
 

7. OIL ISSUES

END

8 EMERGING MARKET& AUSTRALIA ISSUES 

AUSTRALIA/COVID//

This is from the Australian government’s website.
No wonder people have reactions to the vaccine. 

 

https://www.wa.gov.au/government/publications/public-health-act-2016-wa-instrument-of-authorisation-authorisation-supply-or-administer-poison-sars-cov-2-covid-19-vaccine-australian-defence-force-no2-2021

Public Health Act 2016 (WA) – Instrument of Authorisation – Authorisation to Supply or Administer a Poison [SARS-COV-2 (COVID-19) VACCINE – Australian Defence Force] (No.2) 2021

Guidance

 

An authorisation by the Chief Health Office under the s. 197 and s.198 Public Health Act 2016 (WA) to authorise relevant Australian Defence Force employees to supply and administer the COVID-19 Vaccine.
 

An authorisation by the Chief Health Office under the s. 197 and s.198 Public Health Act 2016 (WA) to authorise relevant Australian Defence Force employees to supply and administer the COVID-19 Vaccine.

Documents

 
Public Health Act 2016 (WA) – Instrument of Authorisation – Authorisation to Supply or Administer a Poison [SARS-COV-2 (COVID-19) VACCINE – Australian Defence Force] (No.2) 2021
Page reviewed 10 March 2021

END

SOUTH AFRICA

Chaos in South Africa with huge looting

Heads up, it is not in the news yet but South Africa is in chaos and is totally unsafe for business and tourism.
Malls are being looted and open gun battles are going in Durban in the streets. This will quickly spread as government loses all control.
If you have been enjoy the memories, and if not use extreme discretion, because being stranded there is not going to be pretty.
Cheers
Robert

(zerohedge)

“Reactive Righteous Anger” Routs Rand Amid Deadly South African Riots Against Zuma’s Jailing

 
 
 

6 people are dead, and 219 have been arrested after violent protests have erupted across South Africa following the jailing of former President Jacob Zuma.

Last week, Acting Chief Justice Sisi Khampepe issued a forceful ruling, ordering a prison term because it would be “the only appropriate sanction” after Zuma repeatedly refused to appear when summoned for hearings at South Africa’s Constitutional Court. The court was responsible for overseeing an investigation into corruption headed by Raymond Zondo, South Africa’s deputy chief justice, according to the BBC.

“I am left with no option but to commit Mr Zuma to imprisonment, with the hope that doing so sends an unequivocal message… the rule of law and the administration of justice prevails.”

Protests and looting which started Thursday in KwaZulu-Natal and spread to Johannesburg on Saturday continued early Monday with major malls and shopping centers being ransacked.

Zuma, 79, started serving a prison sentence for contempt of court in KwaZulu-Natal on Wednesday night, and ensuing protests had so far largely been restricted to the coastal province.

All of which was described – in a CNN-esque ‘mostly peaceful’ mockery of narrative over fact – by Zuma’s foundation as:

reactive righteous anger of the people.. which others have characterised as violence.”

It appears “righteous” and “violence” may mean something different in South Africa as on Monday morning, police officers were seen in running battles with looters in Soweto township and Eldorado, south of Johannesburg.

Protesters were seen fleeing with stolen goods, including electronics, food items, and even mattresses. Some protesters were seen hurling stones at the police, who responded with rubber bullets and stun grenades.

“While there are those who may be hurt and angry at this moment, there can never be any justification for such violent, destructive and disruptive actions,” President Cyril Ramaphosasaid on Sunday.

The reaction in markets was most pronounced in the Rand…

Source: Bloomberg

Which pushed down to a critical support level against the USDollar…

Source: Bloomberg

South Africa has now deployed troops to help the country’s embattled police force.

The deployment will “provide safety and a safe working environment for members of the [police] and other law enforcement agencies whilst they carry out their constitutionally mandated law and order duties”, South Africa’s defence forces said in a statement on Monday.

Since Zuma was forced to step down in 2018 as a corruption scandal intensified, the investigation has become a symbol of his successor Cyril Ramaphosa’s efforts to clean up the federal government.

end

VENEZUELA

Looks like Maduro is going after Guaido, the USA’s self appointed leader for Venezuela..

(zerohedge)

Venezuela Forces Raid Juan Guaido’s Apartment Building, “Threaten” Arrest

 
MONDAY, JUL 12, 2021 – 04:40 PM

Since the tail-end of the Trump administration the intensity of Washington efforts to prop up the Venezuelan opposition has waned, and at the same time external supporters of Caracas like Russia appear to have stepped up efforts at maintaining the international legitimacy of the Nicolas Maduro government – even as Biden has quietly continued the Trump policy (since 2019) of deeming Juan Guaido ‘interim’ or de facto president (despite him not actually ruling anything). 

After this period of relative quiet, opposition leader Juan Guaido says Maduro’s security forces are now looking to detain him once again. He issued a statement Monday saying security forces had departed his apartment building after “threatening” him with arrest. His wife, Fabiana Rosales, had earlier said that security forces had entered their apartment building in an attempt to detain him.

Opposition leader Juan Guaido 

A group of reporters quickly gathered at his apartment building following the security forces’ departure, where he issued the statement of the “threatened” arrest. “The harassment and the threats will not stop us,” he told reporters outside the residential complex. 

While they didn’t move on Guaido just yet, which would have triggered international condemnation as possible significant action out of Washington, it soon after reported that prominent opposition lawmaker and Former First Vice President of the National Assembly of Venezuela Freddy Guevara was taken into custody.

He was reportedly taken to the Helicoide prison in Caracas, according to an opposition spokesperson said. Reuters writes of the developing story that “Guevara had earlier posted a video of himself in his car on social media stating that security forces were attempting to arrest him on a Caracas highway.”

All of this strongly suggests that socialist strongman Maduro is ready to belatedly move of “Washington’s man in Caracas” and his network of supporters.

While Biden has been relatively silent on Venezuela – especially when compared to Trump’s prior many bellicose and threatening statements, today’s events could force the Biden White House to belatedly weigh in more forcefully.

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

Euro/USA 1.1842 DOWN .0025 /EUROPE BOURSES /ALL MIXED  

USA/ YEN 110.20 UP  0.256 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3849  DOWN   0.0020  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2498  UP .0059

 

Early MONDAY morning in Europe, the Euro IS DOWN BY 25 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1842 Last night Shanghai COMPOSITE CLOSED UP 23.75 PTS OR 0.67%

 

//Hang Sang CLOSED UP 170.80 PTS OR 0.62%

 

/AUSTRALIA CLOSED UP .79% // EUROPEAN BOURSES OPENED ALL MIXED 

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL MIXED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED UP 170,70 PTS OR 0.62% 

 

/SHANGHAI CLOSED UP 23.75  PTS OR 0.67% 

 

Australia BOURSE CLOSED UP .79%

Nikkei (Japan) CLOSED UP 628.60 PTS OR 2.25%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1799.50

silver:$25.92-

Early MONDAY morning USA 10 year bond yr: 1.339% !!! UP 4 IN POINTS from FRIDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.973 UP 5  IN BASIS POINTS from FRIDAY night.

USA dollar index early MONDAY morning: 92.26 DOWN 15 CENT(S) from FRIDAY’s close.

This ends early morning numbers MONDAY MORNING

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And now your closing  MONDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.31% DOWN 2  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.03%  DOWN 1/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.34%//  DOWN 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.74 DOWN 2   points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 40 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.294% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.04% 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  MONDAY

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

Euro/USA 1.1856  DOWN    0.0010 or 10 basis points

USA/Japan: 110.36  UP .415 OR YEN DOWN 42  basis points/

Great Britain/USA 1.3847 UP .0009 POUND UP 9  BASIS POINTS)

Canadian dollar DOWN 25 basis points to 1.2462

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP).. 6.4756 

 

THE USA/YUAN OFFSHORE:    (YUAN UP)..6.4786

TURKISH LIRA:  8.67  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.030%

Your closing 10 yr US bond yield UP 2 IN basis points from FRIDAY at 1.375 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.999 UP 1 in basis points on the day

 

Your closing USA dollar index, 92.24  UP 11  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 MONDAY: 12:00 PM

London: CLOSED UP 11.35 PTS OR 0.16% 

 

German Dax :  CLOSED UP 114.62 PTS OR 0.73% 

 

Paris CAC CLOSED UP 36.69  PTS OR   0.50% 

 

Spain IBEX CLOSED UP 43.30  PTS OR  0.49%

Italian MIB: CLOSED UP  247.02 PTS OR 0.99% 

 

WTI Oil price; 74.15 12:00  PM  EST

Brent Oil: 75.18 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    74.43  THE CROSS  HIGHER BY 0.02 RUBLES/DOLLAR (RUBLE LOWER BY 2 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.294 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 : 74.17//

BRENT :  75.22

USA 10 YR BOND YIELD: … 1.374..UP 1 basis points…

USA 30 YR BOND YIELD: 2.000 UP 1 basis points..

EURO/USA 1.1861 DOWN 0.0003   ( 3 BASIS POINTS)

USA/JAPANESE YEN:110,35 UP .396 ( YEN DOWN 40 BASIS POINTS/..

USA DOLLAR INDEX: 92.24  UP 11  cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3882  UP 15  POINTS

the Turkish lira close: 8.64  UP 2 BASIS PTS

the Russian rouble 74.41   UP 0.01 Roubles against the uSA dollar. (UP 1 BASIS POINTS)

Canadian dollar:  1.2456 DOWN 19 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.292%

The Dow closed UP 126.02 POINTS OR 0.36%

NASDAQ closed UP  50.37 POINTS OR 0.45%

VOLATILITY INDEX:  16.21 CLOSED UP  0.01

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

USA trading day in Graph Form

Big-Tech Bid, Bitcoin Bust As Bonds & The Buck Go Nowhere

 
MONDAY, JUL 12, 2021 – 04:00 PM

Chinese tech stocks dead-cat-bounce is over after more DIDI headlines and more restrictions over the weekend…

Source: Bloomberg

Overall almost $1 trillion of market value has been wiped out in the latest sell off in China Tech…

But US Stocks managed gains after last week’s mixed bag with Small Caps showing the biggest swings intraday (and managing to scramble and hold on to green)…

Record highs for S&P, Dow, & Nasdaq.

But the improvements are slowing for stocks and the runs are not extending intraday as Goldman’s Chris Hussey notes, the bar for catalysts that drive meaningful upside for the S&P 500 from here is likely higher now vs earlier this year as investors navigate a ‘peak growth – peak liquidity’ backdrop.

And rather notably, all these gains have come as the number of NYSE new 52-week highs has plummeted to its lowest since Nov 2020…

Source: Bloomberg

And the S&P’s breadth is even more dismal…

Source: Bloomberg

As Morgan Stanley noted, we think the recent decline in rates, commodities, and cyclical stocks geared to economic growth is indicative of a market that is getting worried about the sustainability of the pace of recovery, especially relative to expectations. Perhaps the greatest warning sign coming from the market is the increasing deterioration in breadth as the index makes new highs every week. While the decline in long end rates has appropriately benefitted large cap growth stocks over the past month, we would suggest lower rates from here will no longer prove to be beneficial to stocks as it will signal these growth fears are coming true.

Makes you wonder when the rope gets cut?

Financials outperformed ahead of Bank earnings beginning tomorrow…

Source: Bloomberg

SPCE crashed back to earth from soaring too close to the sun in the pre-market…

The Dow traded back above 35k for the first time since early May’s spike highs…

 

After a tempestuous few days last week, bonds barely budged today with a modest 1-1.5bps rise in yields focused mostly in the short-end…

Source: Bloomberg

The rebound in yields appears to have stopped as the 10Y auction was strong today…

Source: Bloomberg

The dollar ended very marginally higher after a pump’n’dump during the day…

Source: Bloomberg

Cryptos tumbled, with Ethereum testing back down towards $2000 and the lowest since late June…

Source: Bloomberg

Bitcoin also broke down, back below $33k…

Source: Bloomberg

Despite the dollar going nowhere, commodities were mixed with Silver the only major to end with gains as crude and copper disappointed bulls…

Source: Bloomberg

Finally, we note that today was the S&P 500 cross a notable level – exactly a double (up 100%) from March 2020’s spike lows

Source: Bloomberg

a)Market trading/this morning/USA/this morning

 
ii) Market data

end

iii) Important USA Economic Stories

Dr Lacalle lays out the folly of Central banks with their continued low bond yields/low growth mantra

(Dr Lacalle)

Low Bond Yields Mean Weak Growth

BY TYLER DURDEN
MONDAY, JUL 12, 2021 – 09:08 AM

Authored by Daniel Lacalle,

Central Banks should know by now that you cannot have negative interest rates with low bond yields and strong growth. One or the other.

Central banks have chosen low bond yields at any cost, despite all the evidence of stagnation ahead. This creates enormous problems and perverse incentives.

It is not a surprise that markets have bounced aggressively, driven by the tech sector, after a slump based on concerns about the pace of economic growth. Stimulus package effects are increasingly short, and it was pretty evident in the poor figures of industrial production and the ZEW survey gauge of expectations. The same can be said about a weakening ISM index in the United States. United States ISM Services PMI came in at 60.1, below expectations (63.5) in June, precisely in the sector where the recovery should be strongest.

Interestingly, European markets declined sharply after the European Central Bank sent the ultimate dovish message, a change in its inflation target that would allow the central bank to exceed its 2% limit without change of policy. What does it all tell us?

  • First, that the placebo effect of stimulus packages shows a shorter impact. Trillions of dollars spent create a small positive effect that lasts for less than three months but leaves a massive trail of debt behind.

  • Second, central banks are increasingly hostage to governments that simply will not curb deficit spending and will not implement structural reforms. The independence of the monetary authorities has long been questioned, but now it has become clear that governments are using loose policies as a tool to abandon structural reforms, not to buy time. No developed economy can tolerate a slight increase in government bond yields, and with sticky inflation in non-replicable goods and services, this means stagnation ahead with higher prices, a bad omen for the overall economy.

  • Third, and more concerning, market participants know this and take incremental levels of risk knowing that central banks will not taper, which leads to a more fragile environment and extreme levels of complacency.

So-called value sectors have retraced in equity markets, which shows that the recovery has been priced and that the risk ahead is weakening margins and poor growth, while the traditional beneficiaries of “low rates forever” have soared to new highs.

Despite rating agencies’ concerns about the rising figure of fallen angel debt, there is extreme complacency among investors looking for yield, and they are buying junk bonds at the fastest pace in years despite a rising number of bankruptcies.

Central banks justify these actions based on the view that inflation is transitory but ignore the risks of elevated prices even if the pace of increase in those prices slows down. If food and energy prices rise 30% then fall 5%, that is not “transitory” to consumers who are suffering the above-headline increase in the prices of the things they purchase every day, a problem that occurred already in 2020 and 2019. The most negatively affected are the middle-low and poor classes, as they do not see a wealth effect from the rise in asset prices.

Sticky inflation and misguided loose fiscal and monetary policies are not tools for growth, but for stagnation and debt.

So far, central banks believe their policies are working because equity and bond markets remain strong. That is like giving more vodka to an alcoholic because he has not died of cirrhosis yet. Low bond yields and high levels of negative-yielding debt are not signaling monetary success but evidence of a deep disconnection between markets and the real economy.

Central banks have already stated that they will continue with ultra-loose policies no matter what happens to inflation in at least a year and a half. For consumers that is a lot of time for weakening purchasing power of salaries and savings. Markets may continue to reward excess and high risk, but that is not something that should be ignored, let alone celebrated. Extreme risk will be blamed for the next crisis, as always, but the cause of that extreme risk -perennial loose monetary policy- will not stop. In fact, it will be used as the solution if there is a market collapse.

Central banks should be tapering already and if they believe that low sovereign yields are justified by fundamentals, let markets prove it. If negative nominal and real yields are justified by the issuers’ solvency, why is there any need for monetary authorities to purchase 100% of net issuances? Reality is much scarier. If central banks started tapering, sovereign yields would soar to levels that would make many deficit-spending governments shake. Therefore, by keeping yields artificially low, central banks are also sowing the seeds of higher debt, lower productivity, and weaker growth. The recipe for crowding-out, overcapacity, and stagnation.

END

inflation watch

Anything But Transitory: Consumers Expect Inflation In One Year To Soar To 4.8%

 
MONDAY, JUL 12, 2021 – 12:59 PM

While central banks, tenured economists and the financial media are doing everything in their propaganda power to convince Americans that the current phase of hyperinflation is merely transitory (although it now appears that even the Fed is getting some doubts writing in its semi annual monetary policy report that inflation is “more lasting but likely still temporary” until proven otherwise, of course), the shocking reality on the ground is that the Fed has effectively lost control over near-term inflation expectations, as the NY Fed’s own survey of consumer expectations reveals.

According to the latest, June, installment of this closely watched survey, consumer inflation expectations for one year ahead, jumped by the most on record, surging by 0.8% in one month, from 4.0% in May to an all-time high for this series of 4.8% in June.

As the NY Fed details, “the increase in the short-term measure was driven mostly by respondents who have some college education. Our measures of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) reached new series’ highs at both horizons.”

There was some hope that the US won’t end up as Weimar in the Fed’s median inflation expectations for the three-year horizon which unlike the 1-Year spot, were little changed from prior month at 3.6%. Still, arguing that inflation at 3.6% in 3 years is acceptable to the Fed’s formerly dual mandate (which has since grown to Social Justice, Race, Gender Issues, Climate Change And Inequality), is at best laughable.

However, in a testament to just how sticky most Americans expect inflation to be, the most valuable (and widespread) middle-class asset – housing – is expect

ed to rise at near record levels with the median year-ahead home price change expectations at 6.2% in June, substantially higher than its 12-months trailing average of 3.7%, if well below the current double digit pace of home price increase which has pushed the average home price to new all time high. According to the Fed, “Median year-ahead home price growth uncertainty—or the uncertainty expressed regarding year-ahead home price growth outcomes—increased and reached a new series’ high.”

Looking at a breakdown of inflation expectations by commodity, the median one-year ahead expected change in the cost of college education increased to 7.0% from 6.1% in May, its highest reading since April 2019. In contrast, the median expected changes in the price of food and gasoline decreased to 7.1% and 9.2%, respectively, from 8.0% and 9.8% in May. The median expected change in the cost of medical care and rent remained unchanged at 9.4% and 9.7%; elsewhere medical costs are expected to rise 9.36%; and rent prices will rise 9.66%.

Some other notable highlights from the survey: 9.59% (vs 9.69% in prior month), expect to not be able to make minimum debt payment over the next three months; the mtean perceived probability of losing one’s job in the next 12 months fell from 12.6% to 10.9%, hitting new series low which is to be expected in a country with record numbers of job openings.

Some more details from the Fed’s survey:

Labor Market

  • Median one-year ahead expected earnings growth increased by 0.1 percentage point to 2.6% in June, its highest reading since the start of the pandemic (February 2020). The increase was driven by respondents who have at least some college education.
  • Mean unemployment expectations—or the mean probability that the U.S. unemployment rate will be higher one year from now— decreased to 30.7% from 31.9%, a new series’ low.
  • The mean perceived probability of losing one’s job in the next 12 months decreased from 12.6% to 10.9%, reaching a new series’ low. The mean probability of leaving one’s job voluntarily in the next 12 months also decreased to 18.6% from 18.7%, staying close to its trailing 12-month average of 18.1%.
  • The mean perceived probability of finding a job in the next three months (if one’s current job were lost) increased by 0.2 percentage point to 54.2%, its highest reading since February 2020. The increase was driven by those with at least some college education. The series remains substantially below its 2019 average of 59.8%.

Household Finance

  • The median expected year-ahead household income growth increased to 3.0% in June from 2.8%. The increase was broad-based across age, income, and education groups.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%, reaching a new series’ high. The increase was most pronounced for respondents with some college education.
  • Perceptions of credit access compared to a year ago slightly improved. In contrast, expectations for future credit availability deteriorated, with more respondents expecting it will be harder to obtain credit in the year ahead.
  • The average perceived probability of missing a minimum debt payment over the next three months decreased to 9.6% from 9.7%. The series remains below its 2020 average of 11.4%.
  • The median expectation regarding a year-ahead change in taxes (at current income level) declined slightly to 4.6% from 4.7%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher 12 months from now increased by 0.5 percentage point to 29.9%. This is the highest reading of the series since May 2019. The increase was driven by those with an annual household income over $100,000.
  • Perceptions about households’ current financial situations compared to a year ago deteriorated, with more respondents reporting to be worse off compared to a year ago. In contrast, respondents were slightly more optimistic about their households’ financial situations in the year ahead.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now decreased by 0.5 percentage point to 40.2%, staying below its 2020 average of 44.3%.

end

Dershowitz believes that the Trump- lawsuit against Twitter will shake things up considerably. It better!!

(Philips/EpochTimes)

Dershowitz: Trump Lawsuit Against Twitter “Will Shake Things Up Considerably”

 
SATURDAY, JUL 10, 2021 – 08:30 PM

Authored by Jack Phillips via The Epoch Times,

Legal scholar Alan Dershowitz on Wednesday said that President Donald Trump’s class-action lawsuits against Facebook, Google, and Twitter are “very, very important” for the future of free speech in the United States, arguing that the Big Tech firms have special exemptions from the government and aren’t just any ordinary private companies.

The former president, during a news conference in New Jersey, announced several lawsuits were being filed in the U.S. District Court in the Southern District of Florida. They’re asking a judge to order an immediate halt to social media companies’ alleged shadowbanning, censoring, blacklisting, and canceling of people. Trump is also seeking punitive damages.

Dershowitz, a Harvard Law professor emeritus, told Newsmax that recent actions taken by the social media giants are “inconsistent with the spirit of free speech that underlies our First Amendment.” According to him, the lawsuit “will shake things up considerably, though I can’t predict in the end how it will come up.”

Trump’s suit, he continued, is “a complicated case because, as the president pointed out, and as [lawyer] Pam Bondi pointed out, the others pointed out, these are not just ordinary private companies—they have special exemption … and therefore they partake of some kind of government action, and the courts will have to parse this issue.”

Facebook, Twitter, Google, and other platforms, under Section 230 of the 1996 Communications Decency Act, are generally protected from liability for the content that users post.

The law allows social media companies to also moderate their platforms by removing posts that violate their terms and conditions as long as they’re acting in “good faith.”

Bondi on Wednesday suggested that Section 230 is currently outdated because it was drafted in the mid-1990s with the intention to protect children from harmful content online. The way in which Big Tech firms currently use the law as a shield, she argued, oversteps what it originally intended to do.

Former President Donald Trump speaks at Trump National Golf Club in Bedminster, N.J., on July 7, 2021. (Seth Wenig/AP Photo)

Twitter, Facebook, and Google-owned YouTube suspended Trump’s accounts in January, claiming that the former president incited violence on Jan. 6 and said he violated the companies’ terms and conditions regarding allegations about election fraud.

“What we don’t want is the government telling private companies what they can say and what they can do,” Dershowitz said.

“That would be wrong, but we don’t want these crazy, public, enormous, monopolistic companies to be restricting our free speech. The current situation is unacceptable, and this lawsuit, I think, will shake things up considerably, though I can’t predict in the end how it will come up.”

Dershowitz further noted that private firms should be able to regulate content on their sites—a common argument that has been deployed against Trump and others who have been suspended.

But he said the “argument on the other side is they’re not really private, and the courts are going to have to resolve that.”

“There is some precedent on that, there’s a case called Marsh v Alabama, where a company town, a town-owned by a company, forbade free speech and the Supreme Court said, ‘no, although it’s owned by a company it partakes of the public and therefore the First Amendment applies,’” Dershowitz said.

He added: “Clearly what’s happening here is prior restraint. That is, they’re telling the former president of the United States, ‘we don’t want you on our platforms, no matter what you say, we’re going to restrain you.’ So, the issue is not so much prior restraint. I think everybody will acknowledge this is prior restraint. It’s whether or not the prior restraint is subject to the First Amendment or [Trump] himself has a First Amendment right. That’s what’s so complicated about this, that’s why I call this the new censorship. The old censorship involved pure government. McCarthyism. Congress. Today we have these companies that are the new censors.”

end

Trump Explains “Why I’m Suing Big Tech” In WSJ Editorial

 
MONDAY, JUL 12, 2021 – 09:25 AM

Following last week’s announcement that President Trump was filing a class-action lawsuit suing the CEOs of Facebook, Twitter and Google over allegations of illegal censorship, Trump has published an op-ed in the Wall Street Journal where he lays out his legal team’s argument: Big Tech has colluded with government to censor the free speech of the American people, Trump said.

Since social media has become “as central to free speech as town meeting halls, newspapers and television networks were in prior generations.” Despite the fact that the internet is “the new public square”, Big Tech has become increasingly “brazen and shameless in censoring and discriminating against ideas, information and people on social media – banning users, deplatforming organizations, and aggressively blocking the free flow of information on which our democracy depends.”

“No longer are Big Tech giants simply removing specific threats of violence. They are manipulating and controlling the political debate itself.

Trump also cited Big Tech’s decision to bar him from Facebook, Twitter and YouTube. “Perhaps most egregious, in the weeks after the election, Big Tech blocked the social-media accounts of the sitting president. If they can do it to me, they can do it to you—and believe me, they are.”

While Chinese and Iranian propagandists are allowed to operate with impunity, social media platforms have attacked a Michigan schoolteacher for sharing an article questioning whether mandatory masks are suitable for young children in schools. A Florida couple that lost their 21-year-old son in a fatal car accident caused by a 2x-deported illegal immigrant was censored by Facebook when they posted about border security and immigration enforcement, Trump said.

These regular people will appear as plaintiffs alongside Trump and his America First Policy Institute, which is co-sponsoring the litigation.

Worst of all, when Democrats in Congress demand that big tech CEOs “fact check” what they insist are “false” stories, Trump says that these “disinformation” labels are supplied by partisan fact-checkers loyal to the Democratic Party. This is tantamount to “suppression of speech that those in power do not like.”

Through these lawsuits, I intend to restore free speech for all Americans—Democrats, Republicans and independents. I will never stop fighting to defend the constitutional rights and sacred liberties of the American people.”

Finally, Trump cited the Trusted News Initiative, a program whereby Twitter, Facebook and Google all take orders from the CDC about which information to combat.

Some legal experts have said Trump’s lawsuit may succeed in pressuring these platforms into letting him back on. Former “Dream Team” lawyer Alan Dershowitz said last week that Trump’s class-action lawsuit was “very, very important” for the future of free speech in the US.

Dershowitz, a longtime Harvard law professor, said that recent actions taken by the social media giants are “inconsistent with the spirit of free speech that underlies our First Amendment.” According to him, the lawsuit “will shake things up considerably, though I can’t predict in the end how it will come up.”

Merely pressuring Facebook and Twitter to abandon some of their efforts to censor conservatives would probably go down as a “victory” in Trump’s book.

end

COVID WATCH USA

Seems the 18 to 39 yr old bracket do  not want to take the vaccine: smart people.

(zerohedge/Emily Miller/Emily post news)

 

Mainstream Media Is Wrong: Vaccine Hesitancy Is Not Highest Among Republican Men And Trump Isn’t To Blame

 
MONDAY, JUL 12, 2021 – 04:20 PM

Authored by Emily Miller via Emily Post News (emphasis ours),

The media elite has been telling us for months that the vaccine hesitancy rate is highest among Republicans, in particular, the men. The press alleges that the MAGA-hat-wearing-uneducated-conspiracy-theorists GOP are to blame for the continuing pandemic. But, guess what? The media lied. It’s young, healthy people who don’t want to get vaccinated.

After six month of shots in arms, the vaccine hesitancy can be measured largely by who has not gotten one yet. The Centers for Disease Control (CDC) reported recently that:

Vaccination coverage and intent among adults are lowest among those aged 18–39 years.

The official data shows that, from March to May, one quarter of these young adults said they were unsure about getting vaccinated and another quarter said they will not get it

The CDC doesn’t even mention political affiliation as a factor. Among the 18 to 39-year-olds, the rates were lowest for those who were younger, black, poorer, less educated, uninsured and living outside metropolitan areas. 

However, the media elite have not let these facts stand in the way of a good story.  To continue the blame-the-Republicans narrative, the press use public opinion polls as a basis of their reports. That’s how we’re still seeing so many stories on Republican hesitancy despite the CDC saying it’s not the case.

The Washington Post is Obsessed

Look at what one outlet — The Washington Post — has published in just the past week:

HEADLINE: The GOP’s very stubborn vaccine skepticism

HEADLINE:  A third of White conservatives refuse to get vaccinated — a refusal shown in polling and the real world

HEADLINE:  We are in a race’: GOP governors implore residents to overcome vaccine hesitancy as delta variant rises

The Post even did its own poll to push this narrative more.

HEADLINE: Post-ABC poll: Biden earns high marks for handling the pandemic, but many Republicans resist vaccination.

The editors at The Post don’t see their own bias in the news side. But the opinion side was so determined to push this false narrative that it published two op-eds on the topic — one from the left and the sorta-kinda right.

Opinion by Marc Thiessen: If Biden wants to convince the vaccine hesitant, give Trump credit for the vaccines

Opinion by Max Boot: Republicans are preventing America from reaching Biden’s vaccination goal

The obsession by the Post editors in making sure readers blame Republicans for any more COVID deaths is just one tiny glimpse into the larger problem with the media pushing this false narrative.

How the Media Works

Going through the media stories about Republicans who supposedly won’t get vaccinated, there’s a clear pattern.

1) The outlet cites a public opinion poll, never the CDC statistics.
2) The reporter gets quotes from random “expert’“ who says the poll proves the GOP is the problem with ending the pandemic.
3) The journalist finds a twist to blame all this on Pres. Donald Trump.

Of course it benefits Pres. Joe Biden to blame the lack of vaccinations on Republicans and Donald Trump because otherwise he would take the hit.

Since Democrats have retaken the White House, the taxpayer-funded media outlets (VOA, NPR, PBS) have been cleared out of Republicans so that the liberals who report and produce in these outlets can return to their agenda.

So, look what the Voice of America is airing all over the world: “Unvaccinated Americans Whiter, More Republican Than Vaccinated.” The story follows the patterns of corporate media.

1) Cite a poll, not stats

Kaiser Family Foundation and never mention the CDC.

2) Get quotes to say the poll shows Republicans are the bad guys

In this case, the expert is just the head of the polling company: Liz Hamel, director of Kaiser Family Foundation’s Public Opinion and Survey Research

3) Blame Trump

In this story, they did it by quoting Hamel as the expert, like this:

For example, she said, “believing that the media has exaggerated the seriousness of the pandemic — that’s something that we heard President Trump saying when he was in office. It’s something that Republicans are more likely to agree with than Democrats. And people who believe that the pandemic has been exaggerated are much less likely to say they want to get the vaccine.”

The New York Times is Ground Zero

How did we get to this common knowledge that Republican men are the biggest holdouts of the COVID vaccine in the US? To answer that, we need to go back to March 2021 when people under 65-years old were first getting vaccinated and could provide real world data. Up to that point, the public opinion polls from as far back as June 2020 were hypothetical about getting a vaccine.

The The New York Times often sets the narrative for the rest of the media, especially TV news.  This was the story in NYT on March 15:

HEADLINE: As Biden Confronts Vaccine Hesitancy, Republicans Are a Particular Challenge

The Times seems to have started the system for how to falsely claim Republicans are the most vaccine hesitant.

1) Cite poll, not stats—

The evidence for the GOP being a “particular challenge” was a poll done by CBS News that the Times reported said one-third of Republicans would not be vaccinated compared with 10 percent of Democrats. That number is accurate, but The Times didn’t put it in perspective.

Overall, 22 percent of the people in the CBS poll said they will not get the vaccine, so “one-third” is not that big of a difference. (CBS said it “weighted” the results but didn’t publish the original numbers to show how.)

If The New York Times reporters had looked at the poll independently of the conclusion by CBS News, they might have looked at other factors. The age difference in the poll shows young people were above average for vaccine hesitancy — just as significant of a divider as party affiliation.

Those under 30 years old who said they won’t get a vaccine were 26 percent compared to only 15 percent over 65 years old. The divide is just as big as party affiliation when you look at actual hesitancy, people who are not sure. That is split 31 percent of young people and only 10 percent of older people. 

If the story had instead concluded that age was the most important factor, then this NYT story in March would match the facts now from CDC that show young people are not getting vaccinated. Instead, just as the vaccine first became available for people under 65-years-old, The Times concluded this: 

The administration is seeking help in urging Republicans to get inoculated. But the president said he was not sure how much value there was in enlisting his predecessor.

2) Expert says poll proves Republicans are the problem

The Times refers to a reporter asking Pres. Biden about the alleged Republican vaccine problem at a press conference.

REPORTER:   Should President Donald Trump help promote the vaccine among skeptics, sir, especially those Republicans who say they’re not willing to take it?

THE PRESIDENT:  I’m hearing a lot of reports from serious reporters like you saying that.  I discussed it with my team, and they say the thing that has more impact than anything Trump would say to the MAGA folks is what the local doctor, what the local preachers, what the local people in the community say. 

Notice how Biden legitimizes the blame-Republicans theory by saying it’s coming from “serious reporters like you.” He never said it’s true or factual because there’s no evidence of it. The media and the Biden White House have the same agenda.

3) Blame Trump

This was a layup for Biden since the reporter did it for him. The Times just piled on by saying Trump is to blame because he got his vaccine “in secret.”

Media Follows The New York Times

As I wrote earlier, the TV networks generally take The New York Times stories and put them to video. Since The Times used a poll from CBS to blame Republicans, CBS then used someone else’s poll to continue the hit job. This story is from April 7:

HEADLINE: Many Republican men are hesitant to get coronavirus vaccine: “I don’t think it’s necessary”

CBS followed the pattern to establish the narrative.

1) Cite poll

They cited this poll without linking to it:

A recent Marist poll in partnership with NPR and PBS NewsHour found 49% of Republican men said they would not take the vaccine when it’s available to them.

2) Quotes to back up the poll as fact

CBS interviewed someone named Steve Mitchell who has “been polling Republicans in the state of Michigan for more than 30 years.” It’s a stretch to interview one guy in one state to assess the entire country, but that was how CBS could make this story stick.

Then CBS interviewed one guy in Michigan named Chris Howe who has no expertise or public position but just described as a “conservative living in Clarkston, Michigan, where he runs his own hardwood flooring business.” The point of using Howe is to get the juicy headline. But it is taken totally out of context.

Howe said he already had COVID so has the antibodies. The headline reads “I don’t think it’s necessary,” and it leaves out the second part of what Howe said: “”I have gotten it and I have not died.” Of course it’s not necessary if you have natural immunity. But that doesn’t fit the narrative of this story.

3) Blame Trump

This story doesn’t blame Trump directly, but says this :

In an interview with Fox News, former President Donald Trump said that he’s taken the vaccine. “It’s a great vaccine. It’s a safe vaccine. It’s something that works” he said.

Cable TV Blaming Republicans

A couple weeks later, CNN does a report with this headline “Vaccine hesitancy among Republicans emerges as Biden’s next big challenge.” It says:

And the hurdles that lie ahead for President Joe Biden in persuading Americans who did not vote for him to take the vaccine are coming into sharper focus as resistance among Republicans, White evangelicals and rural voters persists even though vaccines are now widely available.

CNN is able to write this as fact by doing the standard three steps to get to blame Trump.

1) Cite a poll, not hard numbers

Even though this story was produced after people under 65-years-old started getting vaccinated, CNN did not use any actual statistics from the CDC. Instead it used a Monmouth poll that asks people if they got the shot. CNN was thus able to report that: “a stunning 43% of Republicans said they would likely never get the vaccine.”

2) Expert quotes to back up the poll

CNN is of course totally in the tank for Biden, so it doesn’t try to back up the poll but instead uses administration officials to allegedly prove that Republicans not getting vaccinated will kill people. CDC Director Dr. Rochelle Walensky is cited:

“Because this virus is an opportunist, we anticipate that the areas of lightest vaccine coverage now might be where the virus strikes next.” She added that with only modest protection for the oldest people within the US population, “many more deaths” could ensue.

3) Blame Trump

CNN’s business model is talk about how bad Trump is 24/7. So it’s not a surprise that the report on vaccine hesitancy just blames Trump without even a connection. The report says:

Trump has also seemed uninterested in helping to combat vaccine hesitancy even as some have urged him to do a public service announcement and greater publicity to encourage his supporters to get vaccinated. Trump did not get his vaccine on camera like other former US presidents.

CNN concluded— without any facts— that Trump is to blame for alleged Republicans holdouts who are stopping our country from ending the pandemic.

It remains unclear whether Trump will weigh in to help the Biden administration address vaccine skepticism, but Biden needs to find a way to get the message out to Trump’s base that vaccines are safe, and in fact, necessary, for America to beat the virus.

Media Bias Seeps Into Science

The most disconcerting of all The New York Times followers is the supposedly data-based journal “Scientific American.” The headline in its June issue is “Do Republicans Mistrust Science?” Here’s how it explained this totally non-scientific theory.

….. [click here to read the rest of the investigation]

end

Fauci, the criminal calls for more vaccine mandates.  He slams Alex Berenson for spreading facts at CPAC.  The audience gives Berenson a huge ovation. Deaths from vaccine reaction in the uSA approaching 10,000!!

(zerohedge)

Fauci Calls For ‘More Vaccine Mandates At The Local Level’, Slams Alex Berenson For Spreading Facts At CPAC

 
MONDAY, JUL 12, 2021 – 03:02 PM

The nation’s highest-paid employee in the US government, Anthony Fauci, has gone full-throttle on vaccines – this time with a Sunday appearance on CNN‘s “State of the Union,” where he pushed for vaccine mandates at the local level, and slammed a guest speaker at CPAC (Alex Berenson) for applauding young people for researching vaccine side-effects.

More on local mandates from Jenny Goldsberry via SaraACarter.com,

Dr. Anthony Fauci of the National Institute of Allergies and Infectious Diseases Director appeared on CNN’s State of the Union Sunday to give his opinion on vaccine mandates. He agrees with the White House and President Biden himself, saying vaccination mandates should be the next step.

I have been of this opinion, and I remain of that opinion, that I do believe at the local level, Jake, there should be more mandates,” Fauci told host Jake Tapper. “There really should be.”

For fear of more people dying, Fauci strongly supports mandates. “We’re talking about life and death situation. We have lost 600,000 Americans already, and we’re still losing more people,” Fauci said. “There have been 4 million deaths worldwide. This is serious business. So I am in favor of that.”

Meanwhile, at the Conservative Political Action Conference, author Alex Berenson called out the vaccination efforts as a scam. “The government was hoping that they could sort of sucker 90% of the population into getting vaccinated,” Berenson said. “And it isn’t happening.” People in the audience cheered when they heard that. On the other hand, Fauci called the reaction “horrifying.”

As a result, the NIAID director says the solution to vaccine hesitancy is official approval from the Food and Drug Administration. “One of the things that will happen, and I think the hesitancy at the local level of doing mandates is because the vaccines have not been officially fully approved,” Fauci said. “But people need to understand that the amount of data right now that shows a high degree of effectiveness and a high degree of safety is more than we’ve ever seen with the emergency use authorization, so these vaccines are as good as officially approved with all the I’s dotted and T’s crossed. It hasn’t been done yet because the FDA has to do certain things. But it’s as good as done. So people should really understand that. But they are waiting now until you get an official approval before. And I think when you do see the official approval, you’ll see a lot more mandates.”

Meanwhile, Steve Watson of Summit News notes Fauci’s shock at the ‘horrifying’ facts presented by Berenson.

Appearing on CNN Sunday, Anthony Fauci described it “horrifying” that a crowd at the CPAC gathering applauded when a guest speaker declared that young people are educating themselves about the side effects of the COVID vaccine.

Conservative writer Alex Berenson was speaking about the government’s attempts to indiscriminately push the vaccine on people of all ages, including young people who are statistically more at risk from the vaccine than from the virus.

They were hoping, the federal government was hoping, they could sucker 90 percent of the population into getting vaccinated,” Berenson said, adding “younger people are well aware of what the risks really are and they are well aware of the side effect profile of the vaccines.”

The comments drew applause from sections of the crowd.

 

When asked for his thoughts by CNN host Jake Tapper, Fauci responded “It’s horrifying…I just don’t get that. I mean, and I don’t think that anybody who is thinking clearly can get that.”

We’ve got to put aside this ideological difference or differences thinking that somebody is forcing you to do something,” Fauci continued.

“The public health officials, like myself and my colleagues, are asking you to do something that will ultimately save your life and that of your family, and that of the community,” he continued.

“I don’t know. I really don’t have a good explanation, Jake, about why this is happening. I mean, it’s ideological rigidity, I think. There’s no reason not to get vaccinated,” Fauci further proclaimed.

 

The government has failed to reach its targets on fully vaccinating 70 percent of the population, with the White House suggesting “herd immunity is kind of an outdated term,” and vowing to send “strike forces” to people’s homes in an effort to get more vaccinated.

Meanwhile, the Vaers report continues to monitor deaths from side effects of the vaccine, which are at time of writing approaching 10,000 in the U.S. alone, with in excess of 438,000 adverse reactions also reported.

The likes of CNN are declaring that it is “time to start mandating” coronavirus vaccines for all Americans to counter people opting not to take the shots because of hesitancy over potential side effects.

end

OREGON/CALIFORNIA

Fires rage in southern Oregon threatening California as the megadrought is playing havoc to these states

(zerohedge)

Bootleg Fire In Oregon Uncontrollably Doubles In Size Amid Megadrought

 
MONDAY, JUL 12, 2021 – 02:20 PM

Large swaths of the Western half of the US experienced triple-digit temperatures this past weekend, with intense heat expected to continue through mid-week. As the West baked, a huge wildfire doubled in size in southern Oregon, continuing to threaten major transmission lines that feed power into northern California.

California and other surrounding states are plagued with a megadrought, continuing heat waves, water shortages, fears of rolling blackouts, and an early fire season that could be one for the record books

The fire in focus Monday is the Bootleg Fire in southern Oregon, approximately doubling in size in the last 48 hours to more than 150,000 acres. 

The U.S. Forest Service published an incident report from the weekend specifying, “firefighters, emergency managers and other public safety officials faced the fifth day in a row of extreme, intense fire behavior on the Bootleg Fire, as hot, dry, windy weather persists in the area.” 

The Bootleg fire began in the Fremont-Winema National Forest near the Sprague River last Tuesday. Nearby residents in Klamath County were told to evacuate because of imminent fire danger. 

On Sunday, the wildfire continued to spread and was zero percent contained. Extreme hot temperatures and a megadrought appear to be what fuels the fire. 

According to NBC News, “the fire interrupted electrical lines that transmit power from Oregon to California. The state lost thousands of megawatts of imported power and struggled to maintain operating reserves as temperatures soared into triple digits in parts of the state.” 

Last week, the wildfire prompted California Gov. Gavin Newsom to issue an emergency proclamation to free up additional energy supplies.

On Friday, the state’s grid operator, California Independent System Operator (ISO), was very close to triggering rolling blackouts to thwart a collapse of the power grid. 

Now ISO has issued a five-hour “flex alert” beginning at 1600 local time Monday and urged consumers to “conserve as much electricity as possible” to avoid outages.

With Bootleg Fire barely contained and a heat wave to persist through mid-week, it appears the fire has more to spread, potentially affecting transmission lines to northern California

 

iv) Swamp commentaries/

 

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

China blinked and lowered its Reserve Requirement Ratio (RRR) by 5 basis points on Friday.  The reflation trade appeared globally.  Stocks and commodities soared; bonds tanked.
 
China’s Central Bank Pivots to Easing as Growth Risks Build

  • RRR cut will inject about 1 trillion yuan of liquidity
  • Timing, magnitude of move suggest concerns about GDP outlook

The People’s Bank of China will reduce the reserve requirement ratio by 0.5 percentage point for most banks, according to a statement published Friday. That will unleash about 1 trillion yuan ($154 billion) of long-term liquidity into the economy and will be effective on July 15, the central bank said…
    “The PBOC came in broader and sooner than expected, highlighting the policy urgency to support the China economy,” said Ken Cheung, chief Asian FX strategist at Mizuho Financial Group Inc. “Such firm easing measures could further fuel concern over China’s growth outlook in the second half as well as the upcoming second-quarter GDP figures in the coming week.”…
https://www.bloomberg.com/news/articles/2021-07-09/china-cuts-reserve-ratio-for-banks-to-support-small-businesses
 
On Friday, the Fed issued its semiannual Monetary Policy Report to Congress.  (highlights)

  • Upside risks to the inflation outlook in the near term have increased.
  • More lasting but likely still temporary upward pressure on inflation has come from prices for goods experiencing supply chain bottlenecks.
  • Survey-based and market-based measures of longer-term inflation expectations have risen since the end of last year.
  • Fed institutions at the core of the financial system remain resilient.
  • Data for the second quarter suggest a further robust increase in demand.
  • Structural vulnerabilities persist at some types of money market funds and bank loans and bond mutual funds.
  • The post-pandemic labor market and the characteristics of maximum employment may well be different from those of early 2020.
  • Spate of retirements spurred by the pandemic will continue to weigh on labor force participation for some time.
  • Recent readings on inflation expectations indicate inflation expected to return to levels consistent with the committee’s 2% longer-run inflation objective after a period of temporarily higher inflation.
  • Most measures of hedge fund leverage are now above their historical averages.

 
Monetary Policy Report   July 9, 2021
https://www.federalreserve.gov/monetarypolicy/files/20210709_mprfullreport.pdf
 
ESUs bottomed at 21:00 ET on Thursday night and hit a peak 15 minutes after Europe closed at 11:30 ET.  The rally persisted during this period with only a few modest dips.  ESUs and stocks then went inert until ESUs and stocks inched higher to new session highs at 14:30 ET.  The slo-mo rally continued until the final hour arrived.  ESUs and stocks traded within a five-handle range except for two modest spikes during the final hours of trading that were quickly rescinded.  ESUs and stocks sank until a final spike at the close.  After the early surge, Friday’s session was boring and listless – typical of a summer Friday.
 
Biden targets Big Tech in sweeping new executive order cracking down on anti-competitive practices – aimed at cracking down on anti-competitive behavior by Big Tech and other sectors including labor, health care and financial services…Comprised of 72 actions and recommendations, the order is intended to promote competition in the U.S. economy by encouraging more than a dozen federal agencies to scrutinize corporate mergers and other ways that a growing number of companies build their outside market power, according to a White House fact sheet…  https://t.co/uJ5qMYZT3g

Jon Turley: Twitter Flags Foreign Policy Expert Tweeting Criticism of China
New Zealand foreign policy expert Anne-Marie Brady…mocked the Chinese government. The incident is particularly notable after Twitter recently admitted to censoring criticism of India’s government.  Brady is a professor at the University of Canterbury and an authority on the Chinese regime…
https://jonathanturley.org/2021/07/08/twitter-flags-foreign-policy-expert-tweeting-criticism-china/
 
BBG’s @josh_wingrove: The CDC and FDA have issued an unusual evening joint statement, which pushes back on Pfizer’s announcement that it will seek approval for a third shot (second booster). “Americans who have been fully vaccinated do not need a booster shot at this time,” it says.
https://twitter.com/josh_wingrove/status/1413306651625594894/photo/1
 
@GlobalFinData: Gold stood at $35 when Nixon took the US off of the gold standard in 1971. Between then and the mid-1990s, the dollar sank to roughly $400 per ounce of gold. In twenty years, the dollar declined to less than 1/10th of what it had been in 1971.
The price of a Coca-Cola was a nickel in 1886, and it stayed that way for 70 years, until 1959. Even when the price of sugar went up- still a nickel. Part of the issue was vending machines. They could only take one coin at a time; to raise a coke to a dime would double the price!
 
The FBI is rightly taking fire for going full Stasi/KGB on Americans for this posting on Sunday.
 
@FBI: Family members and peers are often best positioned to witness signs of mobilization to violence. Help prevent homegrown violent extremism. Visit https://go.usa.gov/x6mjf to learn how to spot suspicious behaviors and report them to the #FBI. #NatSec
 
Glenn Greenwald @ggreenwald: Here’s the FBI encouraging people to monitor family members for signs of extremism so that they can “report them to the FBI.”
 
Sen Ted Cruz @tedcruz: In both Cuba & China, they also ask children to spy on their parents…
 
Fox’s @LisaMarieBoothe: Replying to @FBI – No surprise that the Left wants to drive families apart.
Just another step to drive people away from things that bring meaning like family and make them more reliant and dependent on government.
 
The Washington Times’ @mrglenn: Get the children on it. They’ll turn in their bourgeois parents for showing a lack of loyalty to the State.
 
NPR: Documentary Exposes How the FBI Tried to Destroy MLK with Wiretaps, Blackmail
https://www.npr.org/2021/01/18/956741992/documentary-exposes-how-the-fbi-tried-to-destroy-mlk-with-wiretaps-blackmail
 
“Utterly Unacceptable”: Judge Blasts DC Jail for Not Allowing Jan. 6 Capitol Defendant Access to Evidence https://t.co/k7TuCvgTVa
 
Capitol Police to Increase Nationwide Presence as Barricades Come Down [US State police is here]
Acting Capitol Police chief says the force is moving towards being “an intelligence-based protective agency.” (Gestapo-like?)  https://spectator.org/capitol-police-nationwide/?script_path=disqus-widget-safetylevel20longtail09&s=02
 
@nytimes: Shouting “Freedom” and other anti-government slogans, hundreds of Cubans took to the streets in cities around the country on Sunday to protest food and medicine shortages, in a remarkable eruption of discontent not seen in nearly 30 years. (‘freedom’ is anti-government?!) nyti.ms/2T5eIe
 
Today – Powell appears at Congress tomorrow.  Earnings season commences with big bank results on Tuesday (JPM, GS) and Wednesday (BAC, PNC, C, WFC, BLK).  JPM soared 3.2% on Friday as traders got long for its results on Tuesday.  The Bank Stock Index surged 3.94% on Friday.
 
To reiterate: The known universe wants to be long, especially Fangs and techs, into earnings season.  Barring unexpected bad news, the usual suspects are euphoric over stocks this week.  Traders will aggressively buy any dips this week.  Fangs and trading sardines will be favored stocks.  Do not over-think the market now.  Some type of top should materialize in the latter part of next week.

On Friday, the WH announced that Biden would go to Philadelphia on Tuesday to champion voter rights and/or to thwart the Pennsylvania Senate’s intent to audit the 2020 Election.
 
Biden to deliver voting speech in Philadelphia next week
https://www.nbcnews.com/politics/white-house/biden-deliver-voting-speech-philadelphia-next-week-n1273488
 
New Evidence Indicates Enough Illegal Votes in Georgia to Tip 2020 Results
In Georgia, there was both an audit and a statewide recount confirming Biden’s victory, but ignored in the process was evidence that nearly 35,000 Georgians had potentially voted illegally…potentially exceeding the 12,670 votes that separated Joe Biden and Donald Trump…
https://thefederalist.com/2021/07/09/new-evidence-indicates-enough-illegal-votes-in-georgia-to-tip-2020-results/#.YOil0B24M5s.twitter
Pa. Dept. of State tries to obstruct probe of 2020 election by denying ‘third parties’ access to voting machines    https://t.co/2YqQX76bSG
 
Former Dem Rep: Party in FULL PANIC, Says the Quiet Part Out Loud
Donna Edwards: Election integrity will drastically reduce the Democrats ability to cheat and therefore win elections. If Voter ID is put in place and ballot harvesting is banned, the Democratic Party will get absolutely destroyed in elections… and they know it. That’s why they change the language around these things by calling Voter ID racist and election integrity suppression. neither of those things are remotely accurate and the overwhelming majority of Americans agree.
https://www.lifezette.com/2021/07/former-dem-rep-party-in-full-panic-says-the-quiet-part-out-loud/
 
NYC elections officials seek state, federal probes into suspected ballot-harvesting
The city’s Board of Elections has asked the US Department of Justice and the state Attorney General’s office to investigate whether a candidate for a City Council seat on Staten Island ran an illegal ballot-harvesting and forgery operation in last month’s primary – including registering dead people to vote for him, The Post has learned…open election-fraud probes into the campaign of Marko Kepi, a US Marine seeking the Republican line in the race for the 50th District council seat representing the borough’s Mid-Island section… (Ballot harvesting and dead voters are okay for Dems but not for Repubs!)
https://trib.al/T9fG1Rk
 
Pedro L. Gonzalez @emeriticus: If people are angry about what Democrats did to take the election out from under Trump, they’re going to be, or should be, furious when they find out what the Trump administration did to let that happen.
 
@martyrmade: There’s no reason to rig an election when both candidates are regime-approved. If someone tried, the other side would have an incentive to call it out, and the interests they represented would back them. This is the first time in memory that every power center was aligned.
 
@ColumbiaBugle: Tucker Carlson Reading @martyrmade’s Viral Thread on Why So Many Trump Supporters Have Questions about the 2020 Election & Their Distrust of The Mainstream Media
https://twitter.com/ColumbiaBugle/status/1413675917923262464
 
@charliekirk11: There’s more wisdom in this Twitter thread than most college classrooms, political consultancies, think tanks, and newsrooms across America.
    @martyrmade: I think I’ve had discussions w/enough Boomer-tier Trump supporters who believe the 2020 election was fraudulent to extract a general theory about their perspective. It is also the perspective of most of the people at the Capitol on 1/6, and probably even Trump himself…[long thread at link]
https://twitter.com/martyrmade/status/1413165168956088321
 
58% Of Voters Agree: Media Are ‘Enemy of the People’ – Thirty-six percent (36%) don’t agree
(76 percent of Republicans; 37 percent of Democrats)
https://www.rasmussenreports.com/public_content/politics/current_events/media/58_of_voters_agree_media_are_enemy_of_the_people
 
@EmeraldRobinson: It’s fun to remember that all the “conservatives” who sat down to have dinner with Obama in 2009 at @GeorgeWill’s house are now totally discredited: @RichLowry @BillKristol @nytdavidbrooks @Peggynoonannyc.
 
Stephen McIntyre @ClimateAudit: Important thread on how partisan executives at Pfizer interfered in US election, arguably also resulting in thousands of unnecessary deaths. Dem activists had pressured Pfizer to do so and gloated later on their sabotage.
 
@Steve_Sailer: A Pfizer exec admitted that Pfizer put its vaccine trial on ice from late Oct. to the day after election:”… if Pfizer had held to the original plan, the data would likely have been available in October, as its CEO, Albert Bourla, had initially predicted.”…
https://statnews.com/2020/11/09/covid-19-vaccine-from-pfizer-and-biontech-is-strongly-effective-early-data-from-large-trial-indicate/
     One of the most extraordinary facts about the 2020 election: that Trump was likely denied his hoped-for October Surprise of a near-miraculous breakthrough in vaccines because Pfizer shut down work on the world’s most important clinical trial until the day after the election.  Virtually no Trump supporters are aware of how Trump was denied his October (or November 2, 2020) Surprise of a colossal breakthrough in vaccines…
     It would be interesting to know the full extent of the pressure that Pfizer felt that led them to take the extraordinary step of pausing the world’s most important clinical trial from late October until the day after the electionPfizer stopped counting how many covid cases there had been among its volunteers in late October, resuming the day after the election. The next Monday it announced 94 cases, more than even its planned third checkpoint, overwhelmingly concentrated in the placebo arm…
 
MIT Technology Review: One doctor’s campaign to stop a covid-19 vaccine being rushed through before Election Day – How heart doctor Eric Topol used his social-media account to kill off Trump’s October surprise. https://www.technologyreview.com/2020/10/19/1010646/campaign-stop-covid-19-vaccine-trump-election-day/
 
Fauci: There’s no lack of coordination between White House and vaccine manufacturers amid Pfizer booster dose – The CDC fired back at the biotech company in a statement by saying people who are fully vaccinated do not need a third dose at this time. However, Pfizer remained committed to seek FDA emergency use authorization for a booster shot as early as August and claimed it would protect residents from the Delta variant… https://t.co/541TIpkPYu
 
@danielkotzin: According to the “guidance” released today by America’s CDC, a 5-year-old child who had Covid, recovered, and has documented antibodies should be forced to wear a mask all day when they start kindergarten next month.  This is not science. This isn’t even madness. This is evil.
 
Biderman’s Chart of Coercion – A tool designed to demonstrate and explain the coercive methods of stress manipulation used to torture prisoners of war. It has been applied to explain the coercive techniques used by perpetrators of domestic abuse.  Isolation…Monopolisation of Perception… Humiliation and Degradation…Exhaustion…Threats…Occasional Indulgences…Demonstrating
Omnipotence…Forcing Trivial Demands ([It] Develops habit of compliance)
https://www.strath.ac.uk/media/1newwebsite/departmentsubject/socialwork/documents/eshe/Bidermanschartofcoercion.pdf
 
Biden sends ‘strike force’ to Chicago to help curb spike in violent crime
At least 1,600 people have been shot so far in Chicago in 2021 — an 11% increase compared to 2020 and a 58% increase compared to 2019, according to the Chicago Police Department’s crime statistics for the week ending June 28…  https://www.foxnews.com/us/biden-chicago-violence-strike-force
 
Suspect who escaped electronic monitoring killed in standoff with Chicago police, federal marshals and sheriff’s deputies – The suspect had been facing more than a dozen counts of aggravated sex assault with a firearm…[Police Chief] Brown used the incident to repeat once again his claim that the Cook County courts system is fueling gun violence by releasing on electronic monitoring people charged with violent crimes
https://chicago.suntimes.com/crime/2021/7/9/22570124/police-shooting-west-garfield-park-marshals-sheriff-arrest
 
If the father is not in the home, the boy will find a father in the streets. It starts at home.” — Denzel Washington
 
Lee Fang @lhfang: Surreal moment in Oakland. About 200 mostly black families rally with police to call for an end to the epidemic of gun violence. Mothers at the stage mourning recently murdered children. In the back, less than a dozen mostly white antifa protesters assembled to jeer them.
https://twitter.com/lhfang/status/1413961672163610632
 
Washington Post gives White House ‘Three Pinocchios’ for claiming Republicans are defunding police – ‘White House advisers are trying to turn the tables on the GOP with a new talking point
https://www.foxnews.com/media/washington-post-white-house-three-pinocchios-republicans-defunding-police
 
Kamala Harris slammed for claiming rural Americans can’t photocopy their IDs
The vice president tried to back her claim by saying rural communities don’t have Kinkos or OfficeMax
Others questioned Harris’ comments that people had to prove who they were, but “not in ways that make it impossible to prove who they are.” “No one is buying this ridiculous argument against Voter ID,” tweeted veteran and Pennsylvania Senate candidate Sean Parnell. “The vast majority of Americans support it. Let’s get it done.”…72% of American adults support requiring photo identification to vote…
https://www.foxnews.com/media/kamala-harris-rural-americans-photocopy-ids-voter-id-laws
 
Harris was widely mocked and ridiculed for her stupidity and condescension toward rural Americans.
 
VP Harris talks about multiple assignments from Biden: ‘Maybe I don’t say ‘no’ enough’ https://t.co/yqqSXlhd8v
 
HHS Secretary: “Absolutely the government’s business” to know people’s vaccine status http://hill.cm/F9OhrIp
 
@seanmdav: These are the same people who argued just last year that the U.S. government can’t ask during a census if you’re an American citizen or not, despite the fact that the Constitution straight-up requires a census of all citizens.
 
“Ignore No Soliciting Signs, Use Your Script”: Vaccine Door-Knocking Documents Revealed
https://www.zerohedge.com/political/ignore-no-soliciting-signs-use-your-script-vaccine-door-knocking-documents-revealed
 
@JunkScience: So many billionaires in private jets flew to Sun Valley to hear Bill Gates rave about climate that the FAA had to stop temporarily shutdown Western air space to other air traffic. No #ClimateHypocrisy here. Move on.
https://dailymail.co.uk/news/article-9774797/Bloomberg-Cooper-von-Furstenberg-enjoy-penultimate-day-Sun-Valley-billionaire-summer-camp.html
 
Ned Nikolov, Ph.D. (@NikolovScience): When you hear people talking about the “unprecedented warming” or climate change of the past 170 years, show them this graph depicting the evolution of Earth’s global surface temperature for the past 105 My, and point out that our Planet has been COOLING for 86 https://t.co/Aheztc3LLl
 
@TheBabylonBee: ESPN Anchor Fired after Being Caught on Mic Actually Talking about Sports https://t.co/sIKrEalSVr
 
end

Let us conclude Monday with this offering courtesy of Greg Hunter and Bill Holter

Censoring Reality – Bill Holter

By Greg Hunter’s USAWatchdog.com (Saturday Evening Post)

Precious metals expert and financial writer Bill Holter has been predicting the financial system is going to go down. It’s not a matter of if, but when. One of the things that will make this coming so-called “reset” even worse is people are going to be totally blindsided because accurate and truthful information is censored. Holter explains why, “One thing that is extremely dangerous, and I know it has affected USAWatchdog.com, you have had your channel taken down by YouTube. The amount of censorship that is going on across the board, and it’s censorship of conservatives, but it is censorship of reality. It’s censorship of truth. That is so dangerous. If you read the book 1984, we are out-Orwelling George Orwell. The way I view this is very dangerous, and it’s part of the planned reset. . . .Quite simply, if you get taken down or information is taken down, that information is directly over the target.”

Holter says there are huge changes coming to the financial system in the coming “reset.” Holter says, “You are looking at a system that is upside down in the belief that everything is going to be fine because everything is insured. You cannot eliminate risk. You can only move risk from one to another or another. You cannot eliminate risk. The risk is there, it is systemic.”

Systemic risk is plaguing all major markets, according to Holter, “It is the everything bubble. Everything is in a bubble. What they have done is create the most leveraged system in the history of history. I hate to say this, and I have not said this publicly, but I view this as a depopulation event. . . . The vaccine is part of it, but the big depopulation event is crashing markets and crashing the credit markets. People are not going to be able to go to their Walmart or their local grocery store or wherever because goods are not going to be available. If you live in the city, God help you because I have no idea how you are going to survive.”

In closing, Holter warns, “The powers that be have told us that we are going to have a “reset.” Everybody wants to know what the reset is going to look like. The reset, in my opinion, is going to be the rug being pulled out from under everything. . . . The real estate sector, which is 25% of the economy, is going to collapse. You have equities at all-time highs . . . all-time high valuations, not points. This is a coordinated effort, and they are going to pull the plug. . . . Once the average person realizes the workforce has been impaired, that’s going to bleed over into the equity market, credit market and the real estate market. The real estate market is in the process of ending these eviction moratoriums–it’s all over for the real estate market. So, there is your reset.”

Join Greg Hunter as he goes One-on-One with financial writer, precious metals expert and broker Bill Holter of JSMineset.com.

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See you Tuesday night!

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