JULY13//GOLD UP $3.70 TO $1808.40//SILVER DOWN 5 CENTS TO $26.12//GOLD STANDING AT THE COMEX ADVANCES SLIGHTLY AGAIN TO 8.09 TONNES/SILVER ALSO SLIGHTLY ADVANCES TO 33.885 MILLION OZ//CORONAVIRUS UPDATES/VACCINE UPDATES/ CHINA VS USA/NATO VS RUSSIA//SOUTH AFRICA TURNING INTO COMPLETE ANARCHY//AUSTRALIA’S ECONOMY IN TURMOIL DUE TO SHUTDOWNS//BIG STORY OF THE DAY: USA HAS HUGE INFLATION SPIKE AT .9% MONTH/MONTH MUCH HIGHER THAN EXPECTED//OTHER USA STORIES//SWAMP STORIES FOR YOU TONIGHT///

 

GOLD:$1809.40 UP $3.70  The quote is London spot price

Silver:$26.12  DOWN 5 CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1807.80 LONDON SPOT  4:30 pm

ii)SILVER:  $26.02//LONDON SPOT  4:30 pm

 

 

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

 

 

PLATINUM  $1108.92  down $13.27

PALLADIUM: $2834.65  down $16.46  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   60/156

EXCHANGE: COMEX
CONTRACT: JULY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,805.500000000 USD
INTENT DATE: 07/12/2021 DELIVERY DATE: 07/14/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 10
118 H MACQUARIE FUT 143
624 C BOFA SECURITIES 4
624 H BOFA SECURITIES 59
657 C MORGAN STANLEY 5
661 C JP MORGAN 60
732 C RBC CAP MARKETS 1
737 C ADVANTAGE 13 15
880 C CITIGROUP 2
____________________________________________________________________________________________

TOTAL: 156 156
MONTH TO DATE: 1,251

 

ISSUED:  0

Goldman Sachs:  stopped: 10

 
 

NUMBER OF NOTICES FILED TODAY FOR  JULY. CONTRACT: 156 NOTICE(S) FOR 15,600 OZ  (0.4852 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  1251 FOR 125,100 OZ  (3.8911 TONNES)

 

SILVER//JULY CONTRACT

4 NOTICE(S) FILED TODAY FOR 20,000  OZ/

total number of notices filed so far this month 5876  :  for 29,380,000  oz

 

BITCOIN MORNING QUOTE  $33,135 UP 379  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$32,026 down $730 DOLLARS 

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  UP $3.70 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: /  A PAPER WITHDRAWAL OF 2.91 TONNES FROM 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  1037.28 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 5 CENTS

 NO CHANGES IN SILVER INVENTORY AT 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 169.22 up $0.22 OR 0.13%

XXXXXXXXXXXXX

SLV closing price NYSE 24.08 down $0.20 OR 0.82%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Let us have a look at the data for today

THE COMEX OI IN SILVER ROSE BY A STRONG SIZED 628 CONTRACTS  TO 154,260, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE GAIN IN OI OCCURRED DESPITE OUR  $0.03 GAIN IN SILVER PRICING AT THE COMEX  ON MONDAY . IT SEEMS THAT THE GAIN 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 SMALL EXCHANGE FOR PHYSICAL ISSUANCE. WE HAVE ZERO LONG LIQUIDATION AS TOTAL GAIN ON THE TWO EXCHANGES EQUATES TO A STRONG 990 CONTRACTS. (4.95 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: -18 CONTRACTS

WE WERE  NOTIFIED  THAT WE HAD A SMALL  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 362,, AS WE HAD THE FOLLOWING ISSUANCE:,  JULY 0 AND SEPT 362 ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 362 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

33.685  MILLION OZ INITIAL STANDING FOR JULY

MONDAY, 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 $0.03)  AND WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS WITH MONDAY’S TRADING.  WE HAD A STRONG GAIN OF 990 CONTRACTS ON OUR TWO EXCHANGES..  THE GAIN WAS  ALSO DUE TO i) HUGE BANKER/ALGO SHORT COVERING// WE ALSO HAD  ii) SOME REDDIT RAPTOR BUYING//.    iii)  A  SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 38.535 MILLION OZ BUT THEN TODAY A 30,000 OZ QUEUE JUMP:  NEW STANDING 33.685 MILLION OZ// / v)  STRONG COMEX OI GAIN 
.
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:

6340 CONTRACTS (FOR 7 TRADING DAY(S) TOTAL 6340 CONTRACTS) OR 31.700MILLION OZ: (AVERAGE PER DAY: 905 CONTRACTS OR 4.528 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY: 31.700  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:  31.700 MILLION OZ ) BELOW PAR WITH JUNE)

RESULT: WE HAD A STRONG INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 628 , WITH OUR $0.03 GAIN  IN SILVER PRICING AT THE COMEX ///MONDAY .…THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 362 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A STRONG SIZED GAIN OF 990 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR TINY $0.03 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 30,000 OZ QUEUE JUMP /NEW STANDING 33.685 MILLION OZ/

 

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  362  OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A STRONG SIZED INCREASE OF 646 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.03 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.18/ MONDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

WE HAD  4  NOTICES FILED TODAY FOR 20,000 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 FAIR  SIZED 6848 CONTRACTS TO 483,541 ,,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: -4525 CONTRACTS.

THE STRONG SIZED INCREASE IN COMEX OI CAME DESPITE OUR LOSS IN PRICE OF $4.55///COMEX GOLD TRADING/MONDAY.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 12,506 CONTRACTS.  WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JULY AT 3.144 TONNES WHICH WAS FOLLOWED BY A 1600 OZ QUEUE JUMP//COMEX STANDING NOW AT 4.090 TONNES. OUR CROOKED BANKERS ARE TRYING TO FIND METAL ON THIS SIDE OF THE ATLANTIC.
 
 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $4.55 WITH RESPECT TO MONDAY’S TRADING

 

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

WE HAD A STRONG SIZED GAIN OF 7981  OI CONTRACTS (24.55   TONNES) ON OUR TWO EXCHANGES…

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1133 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 1133 & DEC 0  ALL OTHER MONTHS ZERO//TOTAL: 1133 The NEW COMEX OI for the gold complex rests at 483,541. 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 7,981 CONTRACTS:  6,848 CONTRACTS INCREASED AT THE COMEX AND 1133 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 7,981 CONTRACTS OR 24.55 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1133) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (6848 OI): TOTAL GAIN IN THE TWO EXCHANGES: 7981 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 4.090 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 : 14,652, CONTRACTS OR 1,465,200 oz OR 45.57 TONNES (7 TRADING DAY(S) AND THUS AVERAGING: 2099 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 7 TRADING DAY(S) IN  TONNES: 45.57 TONNES

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

THUS EFP TRANSFERS REPRESENTS  45.57/3550 x 100% TONNES  1.283% 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:        45.57 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, ROSE BY  STRONG SIZED 628 CONTRACTS TO 154,278 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 362 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: 362 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  362 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 646 CONTRACTS AND ADD TO THE 362 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A STRONG SIZED GAIN OF 7981 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES 

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 4.95 MILLION  OZ, OCCURRED WITH OUR  $0.03 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)TUESDAY MORNING/MONDAY  NIGHT: 

SHANGHAI CLOSED UP 18.69  PTS OR 0.53%   //Hang Sang CLOSED UP 448.17 PTS OR 1.63%      /The Nikkei closed UP 149.22 pts or 0.52%  //Australia’s all ordinaires CLOSED UP .10%

/Chinese yuan (ONSHORE) closed UP TO 6.4672  /Oil UP TO 74.34 dollars per barrel for WTI and 75.80 for Brent. Stocks in Europe OPENED ALL MIXED /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4672. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4705/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 6,848 CONTRACTS TO 483,541 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 STRONG COMEX INCREASE OCCURRED DESPITE OUR LOSS OF $4.55 IN GOLD PRICING MONDAY’S COMEX TRADING/.WE ALSO HAD A SMALL EFP ISSUANCE (1133 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 1133 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  1133  & DEC.  0  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1133  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 7981 TOTAL CONTRACTS IN THAT 1133 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A  STRONG SIZED COMEX OI OF 6848 CONTRACTS.WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR JULY   (4.090),

 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 SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $4.55)., BUT THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A  STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 7981 CONTRACTS. THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 24.55 TONNES,ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JULY (4.090 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 -4525  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 7981 CONTRACTS OR 798100 OZ OR  24.55  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:  483,541 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 48.35 MILLION OZ/32,150 OZ PER TONNE =  1503 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1503/2200 OR 68.35% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:249,882 contracts//    / volume fair//

CONFIRMED COMEX VOL. FOR YESTERDAY: 256,919 contracts// – fair//  

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

 

JULY 13

/2021

 
INITIAL STANDINGS FOR JULY COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
8772.20 oz
BRINKS
MANFRA
 
 
 
 
includes
153
 
KILOBARS
Brinks
 
 
120 kilobars
MANFRA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
NIL
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
NIL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
156  notice(s)
 
15,600 OZ
0.4852 TONNES
No of oz to be served (notices)
64 contracts
 6400oz
 
0.1990 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
1251 notices
125,100 OZ
3.8911 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposits into the dealer
 
 
 
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  0 deposits into the customer account
 
TOTAL CUSTOMER DEPOSITS nil  oz  
 
 
 
 
 
 
We had 2  customer withdrawals….
 
i) Out of Brinks  4919.100 oz (153 kilobars)
ii) Ou of Manfra: 3858.120 oz (120 kilobars)
 
 
 
 
 
 
 
 
total customer withdrawals 8772.220   oz  all kilobars
 
 
 
 
 
 
 
 

We had 2  kilobar transactions 2 out of  2 transactions)

ADJUSTMENTS  0// 

 

 
 
 
 
 
 
 
 
 
 

The front month of JULY registered a total of 220 contracts for a LOSS of 107.  We had  123 notices filed Friday so we GAINED 16 contracts or an additional 1600 oz will  stand for gold at the comex as they refused to morphed into London based forwards 

 

 
 
 
 
 
AUGUST LOST 14,571  CONTRACTS DOWN TO 301,868 AS WE COUNT DOWN TO THE NEXT BIG GOLD DELIVERY MONTH!!
 
SEPT LOST 89 CONTRACTS TO STAND AT 382
 
OCTOBER GAINED 49 CONTRACTS UP TO 22,470.

We had 156 notice(s) filed today for 15,600  oz

FOR THE JULY 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 156  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 60 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 (1251) x 100 oz , to which we add the difference between the open interest for the front month of  (JULY: 220 CONTRACTS ) minus the number of notices served upon today  156 x 100 oz per contract equals 131,500 OZ OR 4.090 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 (1251) x 100 oz+( 220  OI for the front month minus the number of notices served upon today (156} x 100 oz} which equals 131,500 oz standing OR 4.090 TONNES in this NON- active delivery month of JULY.

We  GAINED an additional 1600 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: 16,935,516.461 oz   (526.76 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  35,406,252,940 oz or 1,101.28 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  974.94 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 13/2021

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
921,079.808 oz
 
 
 
 
 
CNT
Delaware
HSBC
Manfra
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
4
 
CONTRACT(S)
20,000  OZ)
 
No of oz to be served (notices)
861 contracts
 (4,305,000 oz)
Total monthly oz silver served (contracts)  5876 contracts

 

29,380,000 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/349.814 million

total customer deposits today  nil   oz

we had 4 withdrawals

 
 
i) Out of CNT:    42,718l260 oz
ii) Out of Delaware: 9,191.431oz
iii) Out of HSBC: 589,903.660 oz
iv) Out of Manfra: 279,265.457 oz
 
 
 
 

total withdrawals 921,079.808      oz

 
 

adjustments//0

 

 
 

Total dealer(registered) silver: 110.848 million oz

total registered and eligible silver:  349.814 million oz

a net 921,000 oz LEAVES  the comex silver vaults.

silver continually is leaving comex vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

July LOST  9 contracts DOWN to 865 contracts. We had 15 notices filed on Monday so we finally gained 6 contracts or an additional  30,000 oz will stand for silver at the comex in this very active delivery month of July. 

 

AUGUST LOST 3 CONTRACTS TO STAND AT 1715

SEPTEMBER GAINED 312 CONTRACTS UP TO  120,520

 
NO. OF NOTICES FILED:  4  FOR 20,000 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  5876 x 5,000 oz = 29,380,000 oz to which we add the difference between the open interest for the front month of JULY (865) and the number of notices served upon today 4 x (5000 oz) equals the number of ounces standing.

Thus the JULY standings for silver for the JULY/2021 contract month: 5876 (notices served so far) x 5000 oz + OI for front month of JULY( 865)  – number of notices served upon today (4) x 5000 oz of silver standing for the JULY contract month .equals 33,685,000 oz. ..VERY POOR FOR JULY. 

We GAINED 6 contracts or 30,000 oz will stand for delivery at the comex as they search out for metal on this side of the Atlantic.  

 

TODAY’S ESTIMATED SILVER VOLUME  50,181 CONTRACTS // volume  poor//getting out of Dodge//(

 

FOR YESTERDAY  45,828  ,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  13/2021)

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   (JULY13)

 

/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 13/WITH GOLD UP $3.70 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 2.91 TONNES FROM THE GLD////INVENTORY RESTS AT 1037.28 TONNES.

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

 

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

JULY 13 / GLD INVENTORY 1037.28 tonnes

LAST;  1091 TRADING DAYS:   +112.87 TONNES HAVE BEEN ADDED THE GLD

 

LAST 941 TRADING DAYS// +  287.49. 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 13/WITH SILVER  DOWN 5  CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTOR RESTS AT 555.150 MILLION OZ..

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/

 

 

SLV INVENTORY RESTS TONIGHT AT

JULY 13/2021      555.150 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Peter Schiff:

 

end

EGON VON GREYERZ//MATHEW PIEPENBERG

 

END

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

:

ii) Important gold commentaries courtesy of GATA/Chris Powell

Ireland brands its own gold bars and now go on sale

(Press Association/London)

Irish-branded gold bars to go on sale for the first time

 

 

 Section: Daily Dispatches

 

By Cate McCurry
Press Association, London
via Belfast Telegraph
Sunday, July 11, 2021

People will be able to give the gift of the gold as Irish-branded gold bars go on general sale for the first time following an agreement between one of the country’s oldest institutions and a bullion dealership in the capital.

The Dublin Assay Office — overseen by The Company of Goldsmiths of Dublin — was established 384 years ago and it assays and hallmarks articles of precious metals sold in Ireland.

The Dublin Assay Office Gold Bullion Bars being made available are 999.9 parts per thousand fine gold and are the only Irish-branded gold bars available on the market.

They can be purchased through Dublin-based Core Bullion Traders in 10g, 1oz, 50g and 100g investment-grade bullion bars. …

… For the remainder of the report:

https://www.belfasttelegraph.co.uk/news/republic-of-ireland/irish-branded-gold-bars-to-go-on-sale-for-the-first-time-40639836.html

* * *

END
Mike Ballanger, in a financial letter credits GATA as the original whistleblowers in the gold/silver manipulation scame orchestrated by the major USA banks/Government
 
(Mike Ballanger/GATA)

Mike Ballanger: GATA, the original whistleblowers

 

 

 Section: Daily Dispatches

 

9:30p ET Monday, July 13, 2021

Dear Friend of GATA and Gold:

In his financial letter this week our old friend Mike Ballanger of GGM Advisory Inc. in Port Perry, Ontario, credits GATA as “the original whistleblowers.” The letter is posted as a Microsoft Word document here —

https://gata.org/sites/default/files/Ballanger-07-12-2021_0.doc

— and Ballanger can be reached at miningjunkie216@outlook.com and followed on Twitter as @MiningJunkie.

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

END

 
COMMODITY//LUMBER
 
Lumber  prices are back where we started 2021 as supplies build
(zerohedge)

Lumber Futures Wipe Out 2021 Gains As Supply Builds 

 
MONDAY, JUL 12, 2021 – 11:00 PM

Lumber futures on Chicago Mercantile Exchange have officially wiped out all gains for the year on Monday. Prices have been sliding for 44 days, down at least 60% from the record high of $1,711 per thousand board feet from late April/early May. As we’ve noted multiple times, the great lumber bubble has popped. 

The drop in lumber prices has been quite dramatic and is a classic commodity blowoff top. The quadrupling of prices over the last year has been bad news bears for builders and do-it-yourselfers. Even with prices around $685, prices are still more than double pre-COVID prices. 

Since the early 1990s, lumber futures have been range-bound between $200 to $400, with some minor exceptions when prices jumped above $600 in 2018. 

The latest free fall in prices suggests the physical market is resetting after a historic lumber shortage was spurred by a perfect storm of factors during the virus pandemic. 

Lumber futures’ term structure reminds us of a rollercoaster – also prices are very seasonal so this is priced in as well. 

Chief Executive Officer Greg Kuta, whose Ohio-based firm focuses on lumber markets, told Bloomberg in an email that lumber futures will see “volatility” with price swings between “$550 to $1,200 for the remainder of 2021.” 

Paul Quinn, an analyst for RBC Capital Markets, said prices could still drift lower this summer and rally in September, then drop again in November. 

“We think 2022 spring prices will see a similar run as 2021, though likely not as high given the incremental capacity adds,” Quinn said, noting that new home construction continues to flourish.

“We still expect prices will be higher than long-term averages going forward.”

Readers may recall we’ve been closely following the lumber bubble: 

More or less, BMO Capital Markets’ commodity desk noted earlier this month that lumber prices may not return to pre-pandemic levels any time soon. 

 

-END-

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

i) Chinese yuan vs usa dollar/CLOSED UP AT 6.4672 

 

//OFFSHORE YUAN 6.4705  /shanghai bourse CLOSED  UP 18.69 PTS OR 0.53% 

HANG SANG CLOSED UP 448.17 PTS OR 1.63 %

2. Nikkei closed UP 149.22 PTS OR 0.52%

3. Europe stocks  ALL MIXED

 

USA dollar INDEX UP TO  92.37/Euro FALLS TO 1.1844

3b Japan 10 YR bond yield: FALLS TO. +.025/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110.23/ 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:: 74.34 and Brent: 75.50

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.301%/Italian 10 Yr bond yield DOWN to 0.72% /SPAIN 10 YR BOND YIELD DOWN TO 0.32%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.04: D08GEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.72

3k Gold at $1814.50 silver at: 26.22   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 23/100 in roubles/dollar) 74.17

3m oil into the 74 dollar handle for WTI and 75 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 110.23 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 .9166 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0856 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 0.301%

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 1.353% early this morning. Thirty year rate at 1.982%

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

6.  TURKISH LIRA:  UP  TO 8.59..  VERY DEADLY

 

end

3A/ASIAN AFFAIRS

 

i)TUESDAY MORNING/MONDAY  NIGHT: 

SHANGHAI CLOSED UP 18.69  PTS OR 0.53%   //Hang Sang CLOSED UP 448.17 PTS OR 1.63%      /The Nikkei closed UP 149.22 pts or 0.52%  //Australia’s all ordinaires CLOSED UP .10%

/Chinese yuan (ONSHORE) closed UP TO 6.4672  /Oil UP TO 74.34 dollars per barrel for WTI and 75.80 for Brent. Stocks in Europe OPENED ALL MIXED /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4672. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4705/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/

 

end

3 C CHINA

CHINA/HONG KONG/USA

A good warning from the White House; USA firms should be at risk for remaining in Hong Kong

(zerohedge)

White House Warns US Firms About Risks Of Remaining In Hong Kong

 
TUESDAY, JUL 13, 2021 – 07:10 AM

Picking up where his predecessor left off, President Biden will reportedly warn American businesses this week about the growing risks of operating in Hong Kong as Beijing consolidates its power over the territory, which was supposed to remain legally independent under international law for the next three decades.

Sources close to the White House and its thinking told the FT that Biden is also preparing to impose more sanctions on Beijing tied to the Chinese government’s alleged abuse of Uyghur Muslims in the far-western Xinjiang province, as well as Beijing’s crackdown on political dissent in HK. Examples will include Beijing’s crackdown on the Apple Daily tabloid which was forcibly shuttered by the government despite its popularity over its pro-democracy stance.

And pretty soon, Biden’s warning might to turn into an edict ordering business back home.

On Tuesday, the US will update a warning that the Trump administration issued on Xinjiang last year, according to five people familiar with the decision. The business advisory will stress the legal risks that US companies face unless they ensure that their supply chains are not implicated in forced labour in Xinjiang.

The decision was driven partly by the view that companies were not taking the issue seriously enough.

“The point of the advisory is to stress [that] if you do not exit these supply chains you run a risk of violating US law,” said an official who did not want to be named. “We want to make clear to the business community. . .that they need to be aware of reputational, economic and legal risk of their involvement with entities involved in human rights abuses.”

Assuming the Administration follows through, it will be the first time the Biden White House has issued an advisory related to Hong Kong.

Chinese critics slammed the decision as yet another example of the type of “foreign manipulation” that Hong Kong’s new natsec law was designed to combat (though ironically it was also provoked by the natsec law).

Zhao Lijian, China’s foreign ministry spokesperson, criticized the planned US moves as “typical double standards and political manipulation”.

“Hong Kong’s Basic Law clearly protects foreign investors’ rights and interests,” he told a press conference on Tuesday, referring to the territory’s mini-constitution. He added that any attempt by Washington to “use Xinjiang as a leverage” was “doomed to fail”.

Last week, the Commerce Department added 14 Chinse companies to its export blacklist over alleged involvement in the human rights abuses and surveillance in Xinjiang. Beijing denounced that move as an “unreasonable suppression” and vowed to respond with “necessary measures”.

The White House is also considering a policy that would allow Hong Kong citizens in the US to remain after their visas expire if they face potential political persecution in Hong Kong. But that policy is being debated and is not expected to be part of the package of actions to be announced this week.

Hong Kong has a sizable expat business community (among them are thousands of American bankers and other financial services employees). The American Chamber of Commerce in HK says it has more than 1.2K members and 282 US companies based their regional headquarters in the area in 2020.

US firms are already worried about the possibility that, under the new national security law, Beijing can access any data stored on their servers. And although they were both working on the mainland when they were initially arrested, the cases of Canadian businessmen Michael Korvig and Michael Spavor remain a cautionary tale for any westerner hoping to do business in China.

end

CHINA VS USA

USA cracks down on China abuse as they warn American firms that they face legal risks if they are buying goods from forced labour suppliers

(zerohedge)

US Cracks Down On China Abuse, Warns American Firms Face Legal Risks Using Forced-Labor Suppliers

 
TUESDAY, JUL 13, 2021 – 10:42 AM

In the latest escalation of tensions between the U.S. and China, the U.S. Department of State, Department of the Treasury, Department of Commerce, and the Department of Homeland Security issued a supply chain advisory, warning U.S. companies operating or doing business in the Xinjiang Uyghur Autonomous Region (Xinjiang) and elsewhere in China to abandon those supply chains or face consequences.

The advisory comes as the US has been an outspoken critic of the Chinese using forced labor, such as the Uyghurs, ethnic Kazakhs, ethnic Kyrgyz, and other Muslim minority groups, in factories in Xinjiang Uyghur Autonomous Region and other manufacturing hubs. 

The advisory highlights three main types of supply chain exposure to entities involved in human rights abuses presented in this advisory are:

  • Assisting in developing surveillance tools for the P.R.C. government in Xinjiang;

  • Relying on labor or goods sourced in Xinjiang, or from factories elsewhere in China implicated in the forced labor of individuals from Xinjiang in their supply chains, given the prevalence of forced labor and other labor abuses in the region; and

  • Aiding in the construction of internment facilities used to detain Uyghurs and members of other Muslim minority groups, and/or in the construction of manufacturing facilities that are in close proximity to camps operated by businesses accepting subsidies from the P.R.C. government to subject minority groups to forced labor.

It also said, “businesses with potential exposure in their supply chain to entities that engage in human rights abuses in Xinjiang or to facilities outside Xinjiang that use forced labor from Xinjiang in the manufacture of goods intended for domestic and international distribution should be aware of the reputational, economic, and legal risks of involvement with such entities.” 

The advisory said for companies to “mitigate reputational and other risks,” they should complete immediate due diligence policies and procedures to make sure their supply chains in China don’t include forced labor. 

US Secretary of State Anthony Blinken commented on the advisory via a tweet that read, “This will help U.S. businesses take steps to ensure their supply chains are not tainted by forced labor or other human rights abuses.” 

Here’s the complete advisory note to U.S. companies with supply chains in China:

end

 

4/EUROPEAN AFFAIRS

GERMANY/COVID

end

UK EU/CORONAVIRUS-DELTA/LOCKDOWN

They should be worried! EU and the UK worry that their “economic rebound” is being derailed by the Delta variant

(zerohedge)

EU, UK Worry Nascent Economic Rebound Is Being “Derailed” By Delta

 
TUESDAY, JUL 13, 2021 – 05:45 AM

As Boris Johnson prepares to lift the last of England’s COVID-19 restrictions, some of his underlings are already rebelling, insisting that mandatory mask rules remain in effect for public areas.

According to the Guardian, Nadhim Zahawi, the UK’s vaccines minister, announced Monday that the government would provide “very clear guidance on issues such as the wearing of masks, as England moves away from using the laws to govern the response to COVID.”

In other words, mask-wearing will be “expected” in the tube and in other crowded public places even after the last COVID related restrictions are lifted.

“I think it’s important that we remain cautious and careful,” he told Sky’s Trevor Phillips on Sunday programme. “The guidelines that we will set out tomorrow will demonstrate that, including guidelines that people are expected to wear masks in indoor enclosed spaces, and of course to remain vigilant.”

Zahawi clarified that he didn’t oppose PM Johnson’s plan to reopen, saying that the UK has already fully vaccinated 65% of its adult population.

Imploring white collar Britons to keep working from home, Dr. Susan Hopkins, the incident director for COVID at Public Health England, says “if you are able to do your business effectively from home then I think over the next four to six weeks we should try our best to do that.”

And on Monday, new Health Secretary Sajid Javid warned Monday that the number of new COVID cases “will get  lot worse” and that the UK could see as many as 100K cases/day by the summer.

Across the UK and the EU, the lifting of COVID restrictions is causing economists to worry that the EU’s brightening economic outlook could be undermined by rising infection levels and the reintroduction of travel and social restrictions.

“I’m a bit more nervous that it could get derailed by Delta,” said Erik Nielsen, chief economist at UniCredit, which has raised its eurozone growth forecast for this year from 4% to 4.5%. “It has to get quite bad before we get another lockdown, but Google mobility data shows that it is not so much the lockdowns that drive behaviour but voluntary restraint.”

Across Europe, it seems, politicians and bureaucrats are more worried than they were the last time we checked in a few weeks back. And it seems Delta is mostly to blame.

Travel restrictions are already starting to emerge. On Friday, Germany and France warned their citizens against travel to Spain, where the coronavirus infection rate has surpassed Portugal to become the highest in mainland Europe, dealing a blow to the country’s tourism sector at the start of what was supposed to be a critical tourism season, but will likely disappoint as officials haven’t lowered their guard in time.

Some countries are already moving to reimpose restrictions. The Netherlands said on Friday it would reintroduce restrictions on restaurants, bars, cafés, nightclubs and live events only two weeks after lifting them because of a more than tenfold rise in the country’s daily infection rate to almost 7K in that period.

Cyprus also reintroduced rules on the number of people allowed at hospitality and entertainment venues last week after its daily coronavirus infection rate hit a high for the year. Portugal also said tourists must be fully vaccinated before arriving in the country.

The European Center for Disease Prevention and Control said Friday that the weekly COVID infection rate for the EU and European Economic Area had risen to 51.6/100K people, up from 38.6/100K the week prior. However, hospitalizations and deaths were stable. The agency forecast the infection rate would exceed 90/100K people in four weeks.

Europe isn’t alone: A new state of emergency is taking effect in Tokyo Monday as the number of new COVID cases reported in the capital district continues to worsen ahead of the Olympic Games, which are set to begin in under two weeks.

 
END
UK
Crooks! Former Prime Minister David Cameron paid more than $1 million to lobby for the shady UK operation,Greensil before it collapsed.
(zerohedge)

David Cameron Paid More Than $1 Million To Lobby For Greensill Before Collapse

 
TUESDAY, JUL 13, 2021 – 08:20 AM

After months of reporting on Greensill Capital’s close ties to high-ranking Conservative politicians in the UK (who tried to hook the failing company up with government-backed COVID-relief loans that were supposed to go to small businesses) the FT revealed on Tuesday that former British PM David Cameron – who has seen his reputation sullied by the business paper’s reporting – was paid a salary of more than $1MM a year by the firm during his stint as a senior advisor.

Cameron received generous compensation for what was supposed to be a ‘part-time’ advisory role. He was hired to work 25 days a year as an advisor to the company’s board and earned the equivalent of $40K per day. The FT described the lobbying scandal that has befallen Cameron as “one of the biggest” to afflict Westminster in a generation.

And remember, this isn’t the first time that Cameron and his family’s wealth have been dragged into the spotlight. He endured plenty of embarrassing headlines following the Panama Papers leaks.

As the virus spread last spring, Cameron lobbied top officials in Boris Johnson’s government on at least 56 documented occasions in an attempt to secure government money for Greensill.

The collapse of the firm’s trade-financing business, which was being used as a slush fund to obscure the true debt exposure of certain SoftBank-backed companies, forced Credit Suisse to freeze $10 billion in trade-finance funds that had been marketed as low-risk investments to some of the bank’s most elite customers (sound familiar?).

What’s more, when Greensill eventually won access to a coronavirus lending scheme for large businesses, it passed on its full £400MM allowance of taxpayer-backed loans to companies linked to Sanjeev Gupta, a top Greensill client whose metals business is now facing an investigation into fraud.

Cameron’s salary made him one of the most well-compensated figures at Greensill. Yet, he insists that his lobbying for the firm wasn’t motivated by financial gain.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

UKRAINE/USA

Just what we needed: Victoria Nuland is deeply concerned with Belarus.  Belarus is closely allied with Russia and we do not need to poke “the bear” (Putin) more!!

(Rozoff/Antiwar.com)

Ukraine Reprised: Victoria Nuland Eyes Belarus In Talks With Ukrainian Official

 
TUESDAY, JUL 13, 2021 – 02:00 AM

Authored by Rick Rozoff via AntiWar.com,

Under Secretary of State for Political Affairs Victoria Nuland held a phone conversation with the Head of the Ukrainian President’s Office Andriy Yermak to discuss what the National News Agency of Ukraine reported was the situation in Belarus. The two were described as having “expressed concern” over developments in Ukraine’s northern neighbor. A nation doesn’t want Nuland to be concerned, much less gravely concerned over its internal affairs given her political track record.

Unlike her telephone conversation with then US ambassador to Ukraine Geoffrey Pyatt in 2014 in which she dictated the composition of a post-coup government in that nation weeks before the event, the above conversation has not been recorded and placed on YouTube yet, so its exact contents remain unknown.

Then US Assistant Secretary for European and Eurasian Affairs Victoria Nuland in Kiev in 2013, via EPA

It is to be hoped that Yermak was duly deferential to the highest-ranking member of the US Foreign Service, as he would never have been granted the position he currently holds by his personal friend President Volodymyr Zelensky but for Nuland’s deft coup plotting of seven years ago. Before nepotism gained him his current position, he had been appointed Presidential Aide for Foreign Policy Issues shortly after Zelensky took office. Yermak, also an attorney, had been a film producer when he met Zelensky, at the time general producer of the TV channel Inter. Somehow one imagines the prospect of a Ukrainian television miniseries with a title like “The Battle for the Soul of Belarus” or “Free at Last, Released from the Bonds of Despotism” or, better yet, “Rock ‘n Roll Revolution” with a soundtrack by U2, Rage Against the Machine and Nicki Minaj.

What is known of his conversation with Nuland, the pastry peddler of Maidan Square and patron saint of the seven-year war in the Donbass, is a brief account of it related by Ukraine’s presidential press secretary, Serhiy Nykyforov:

“Andriy Yermak and Ms. Victoria Nuland discussed the situation in Belarus and expressed concern about what is happening there now. They also discussed some security issues related to Russia’s West-2021 exercises and moved on to the topic of Ukraine.”

The joint Belrusian-Russian exercise (Zapad in Russian) is a routine one and Ukraine has no reason to fear anything from it; but Ukrainian officials, including Zelensky, for months have been prophesying, like a blind Greek soothsayer of the time of Sophocles, a threat to the very existence of Ukraine emanating from Belarus. Ukraine has a population almost five times the size of Belarus’ and armed forces trained to meet NATO standards in addition to military equipment provided by the US and other alliance members.

The government of Belarus recently closed its border with Ukraine, accusing the latter of allowing arms to be smuggled into the country for Western-backed “protesters.” The sort of peaceful protesters that set over a hundred Ukrainian policemen on fire with gas bombs in Kiev in 2014, burning several to death. Their efforts were noted, appreciated and rewarded by Nuland and John McCain, who dispensed snacks to the CANVAS-trained perpetrators between bouts of hurling Molotov cocktails at unarmed law enforcement personnel.

 

Alexander Lukashenko, the president of Belarus, via Reuters

By the way, the government of President Viktor Yanukoych was overthrown only thirteen months before a scheduled presidential election. Surely Nuland, McCain and their friends in the National Endowment for Democracy and other “democracy enhancement” organizations could have delivered the desired result short of setting much of the Ukrainian capital on fire, overthrowing an internationally-recognized head of state and plunging the nation into endless war; with the indispensable assistance of bomb-wielding “youth activists” as in 2004 and 2014, of course.

But a standard color revolution would have had disadvantages. Campaign slogans from approved candidates like Vote for Me and Join NATO or Support Us or We’ll Burn Your Country to the Ground don’t always appeal to targeted demographics. At least not sufficiently to motivate them to walk to the polling station on a rainy afternoon. Besides, rigging an election in 2015 might not have guaranteed a festering war with ethnic Russians in the Donbass and an excuse for further NATO buildup in the Black Sea – much less the opportunity of war with Belarus.

For the likes of Nuland with her Bachelor of Arts in Something or Other (BASOO), film producer Yermak and his boss, comedian Zelensky (Did you hear the one about the hooker and the mushroom cloud?), politics and war are just so, like, boring without a little panache. A little flair. Éclat. Some fireworks. Taunting a neighbor with the world’s second-largest nuclear arsenal by overthrowing the government of its only ally in Europe would do the trick. Now you’re talking. F*ck the world/

END
 
NATO/RUSSIA
 
OK then lets poke Putin again:  NATO adventures into the Black Sea and continues with war time exercises launched in Bulgaria.

NATO Adventures In Black Sea Continue: Breeze-21 Exercises Launched In Bulgaria

 
TUESDAY, JUL 13, 2021 – 05:00 AM

Via SouthFront.org,

The joint NATO exercises in the Ukrainian waters of the Black Sea ended on July 10, but the war ships of the NATO naval forces are in no hurry to leave the Black Sea. Moreover, more war ships of the Alliance are passing Bosphorus.

Russian soldiers guard a pier where two Ukrainian naval ships are moored, in Sevastopol, Ukraine, on Wednesday, March 5, 2014. Ukraine’s new prime minister said Wednesday that embattled Crimea must remain part of Ukraine, but may be granted more local powers. Since last weekend, Russian troops have taken control of much of the peninsula in the Black Sea, where Russian speakers are in the majority. (AP Photo/Andrew Lubimov)

On July 10, the missile boat of the Greek Navy (P 68) Ypoploiarchos Daniolos has already entered the Black Sea basin and headed for the Bulgarian Navy base in Burgas.

On July 11, Turkish Coast Guard SAR35 type TCSG71 escorted Hellenic Navy Roussen (Super Vita) class fast attack craft HS Ypoploiarchos Daniolos P68 during its Bosphorus transit towards the Black Sea to participate in Bulgarian-led naval exercise Breeze21 in Burgas.

From July 11 to 19, the next sea exercises Breeze-21 are held in Bulgaria for the 25th time.

The Bulgarian-led, multinational exercise includes participants from Albania, Belgium, Bulgaria, Georgia, Greece, Italy, Latvia, Poland, Romania, Spain, Turkey, Ukraine, United Kingdom, United States, Standing NATO Mine Countermeasures Group 2 (SNMCMG 2) and Standing NATO Maritime Group 2 (SNMG 2). The exercise will reportedly focus on operational and tactical interoperability, increasing interagency coordination, and refining cooperation with government and non-governmental organizations (NGO).

The Arleigh Burke-class guided-missile destroyer USS Ross (DDG 71) arrived in Varna, Bulgaria on July 11.

According to the official statements, the deployment of warships was carried out in accordance with international maritime law, including the Montreux convention.

Representatives of the Russian Navy said that the Greek boat and other vessels participating in the maneuvers are under the close supervision of the forces of the Russian Black Sea Fleet.

At the same time, Thracian Star 21 joint exercise were launched in Bulgaria.

On July 12, eight American F-16 Fighting Falcon fighters have arrived at the Graf Ignatievo air base in Bulgaria that will provide the air traffic control and logistics for the American F-16s.

During the exercises, the United States and Bulgaria will work out rapid deployment in remote areas. The exercises are also aimed at ” providing effective forces for stability in the region.”

The training flights will take place over the air space of Bulgaria, Greece and Romania. Bulgaria will take part in the exercises with SU-25 ground attack aircraft, Mi-24 helicopters, Cougar and Bell. Sofia restricted the use of MiG-29s due to the 9 June incident in which a pilot was killed.

We can only hope that this time the adventures of U.S. military in Bulgaria will not finish with a storming of another farm workshop as it has been case in May 2021.

end
AFGHANISTAN/TALIBAN

Afghanistan stunned by scale and speed of security forces’ collapse | Afghanistan | The Guardian

Robert H to me:
 
“The west gave so much for so little and the scars of battle will haunt many for what gain. Like in most wars the only winners were the suppliers of military equipment. And like so often throughout history governments lied about the truth of war and tossed away those affected by it.
Today, we are seeing the ugliness of the cleansing of factions as the Taliban takes over. And as always the citizens will be forgotten and trampled in regime change.
Really, one ponders why history must repeat itself so often and why it is so hard to learn its’ lessons.”

 

https://www.theguardian.com/world/2021/jul/13/afghanistan-stunned-by-scale-and-speed-of-security-forces-collapse

6.Global Issues

CORONAVIRUS UPDATE/VACCINE//

Israel’s COVID count rises from around 200 in June to 4,000 now. Israel has determined that the Delta variant is only 64% effective at preventing infections and no doubt this would be the same in all countries. I think that Israel is making a mistake going for a booster jab.  We will,  in short order,  see the rise of other variants and thus ADE and/or other toxic effects manifesting itself from the spike protein doing severe damage to its citizens. 

(zerohedge)

Pfizer Sells “Booster” Jabs To Israel As COVID Cases Rebound

 
MONDAY, JUL 12, 2021 – 08:20 PM

Despite boasting higher adult vaccination rates than any other developed nation, Israel is scrambling to stanch a resurgence of new COVID infections after the country’s top scientists revealed that they believed the Pfizer vaccine is only 64% effective at preventing infections involving the Delta variant currently stoking problems across the globe.

Just last week, Pfizer and its partner BioNTech announced plans to seek approval for a “booster” dose, provoking a rare, and surprisingly adversarial, response from the CDC and FDA. The two government agencies warned that there was presently no reason to believe that a “booster dose” will be necessary.

If nothing else, this simply demonstrates that “the science” is no longer the priority for either Big Pharma, nor the federal government, since Big Pharma is now focused on maximizing profits from its new cash cow, while the federal government is calibrating everything it says and does with an eye toward encouraging as many American adults as possible to get vaccinated.

And if people read that they’re going to need a booster shot in a few months anyway, why would they bother getting vaccinated now?

Anyway, having been stymied in the US, Pfizer is trudging ahead with its “booster shot” plans by striking a deal to expedite resupply to Israel, which is planning to administer a third “booster” jab to patients with certain high-risk comorbidities starting Aug. 1.

The Jerusalem Post reports that the next shipment of Pfizer jabs will arrive on Aug. 1 instead of in September (Israel also has 200K doses of Moderna on hand, but those can only be used on adult patients).

Israeli PM Naftali Bennett said Sunday: “We have been working on the issue of vaccines for several weeks,” Bennett said. “This morning, I am pleased to announce that after a series of discussions with Pfizer CEO Albert Bourla, we closed a deal last night to move up the next vaccination delivery to August 1.” “There are vaccines for everyone.”

Last week, Israel announced it had agreed on a vaccine-exchange deal with South Korea. Under the terms of the deal, Israel delivered some 700K doses to South Korea, which it will return when it receives its next vaccine delivery.

And as we noted earlier, immuno-compromised patients will be able to receive their third shot starting immediately, said Health Minister Nitzan Horowitz.

In the meantime, Israel continues to register a higher number of daily cases. At the beginning of June, some 10-20 people were found to be new virus carriers every day. Currently, several hundred are testing positive on a daily basis. The number of active cases (which had shrunk to 200 recently) has rebounded to 4,000.

Pfizer will meet with top US health officials on Monday to discuss Pfizer’s push to receive federal authorization for its booster shot, according to the Associated Press.

“Certainly, immunity decreases over time…the question is how much time,” one doctor told CNBC during an interview Monday morning.

Before Delta arrived in Israel, some believed the country had reached “herd immunity”. But as Dr. Scott Gottlieb and others have pointed out, COVID is now endemic in the human population, and reaching “COVID zero”, a standard that Israel is aiming at, simply might not be possible. Israeli officials have already acknowledged that with the large percentage of Israeli’s vaccinated, deaths and hospitalizations associated with COVID will likely continue to decline, even if the number of new cases does rise.

end

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As the virus mutates, the vaccines are increasingly useless, only increasing risk without providing a return. The unfortunate vaccinated are going to have to take boosters for life which will eventually kill them through spike protein poisoning (cardiomyopathy and blood clots). The unvaccinated are increasingly immune from a virus that is weakening in virulence for them.

The data from the article linked below skew to younger people because they are coming from the ZOE app

(Lockdownsceptics//Will Jones).

 

Infections Decline in the Unvaccinated as They Surge in the Vaccinated – Demolishing the Argument for Vaccinating Children and Young People

I reported last week on the striking fact that, according to data from the ZOE Covid Symptom study, new symptomatic daily infections appeared to be plateauing in the unvaccinated while they were surging in the vaccinated. The trend has continued since then, with infections now entering decline in the unvaccinated while those in the vaccinated (with at least one dose) continue to surge (see graph above).

Around 67% of the population has received at least one vaccine dose, so the fact that there are still more infections in the smaller unvaccinated group means no conclusion can be drawn from the current figures about the vaccines not being effective. Also, while more people are being vaccinated all the time, that steady trend is nowhere near large enough to account for the sharp changes in infection incidence we see here.

With infections in the unvaccinated already peaking and falling, despite the Delta variant, this drives a coach and horses through arguments for the supposed importance of vaccinating children and hesitant young people – including through inducements like vaccine passports for pubs, clubs and restaurants, now being mooted for the autumn.

Why the vaccinated are having their Delta surge later than the unvaccinated is an interesting question. Is it because the vaccines make them more resistant to infection? Does the age difference help explain it? Or is it something else?

Whatever the explanation, the important point is that without any new restrictions or a big new vaccine push, infections in the unvaccinated are already falling. In the current climate of pushes to extend restrictions, delay ‘Freedom Day’, and vaccinate everyone whether they want it or not, this is hugely significant. It means all those arguments to continue restrictions and pile on the pressure for vaccination because of the Delta variant are complete nonsense.

That new daily infections are still rising in the population as a whole is now because they are rising among the vaccinated, not the unvaccinated. They will likely peak soon in the vaccinated, too, just as they already have in Scotland.

 

It seems that Delta has done its strange summer thing and will soon exhaust itself like the variants before it.

When it does, is there any chance we can stop panicking every time this not-very-deadly virus has a little variant-driven ripple and go back to living as free people again?

 
end
 
On live television, a UK politician admits that the more COVID vaccines people have had, the more likely they are to get and transmit the COVID
(WorldNewsDesk)

UK politician admits on live television that the more COVID vaccines people have had, the MORE likely they are to get and transmit COVID

 
UK politician admits on live television that the more COVID vaccines people have had, the MORE likely they are to get and transmit COVID

A politician in the United Kingdom has admitted on television that people who have received the COVID “jab” actually CARRY and SPREAD Coronavirus to others!

Grant Shapps, a Member of the British Parliament and Transport Secretary, appeared on TV and quite casually revealed “We know that double vaccinated (fully vaccinated) are much more likely to get, to carry coronavirus . . .”   

This seems to mean They lied to you all and told you that after you were fully vaxed, you could go back to your normal life.

Now, they’re telling you that you are basically, Typhoid Mary.

It gets worse. The vaccinated actually become breeding grounds for immune escape variants of the virus.

Since these new mRNA “vaccines” do not make you IMMUNE to the virus, they just lower the severity, allowing the vaccinated to carry and spread dangerous mutated variants of the virus that escaped the programmed mRNA vaccine immune response.

This revelation by a UK politician fits with the warnings previously issued by Nobel prize winner Luc Montagnier who said ” The vaccines cause the variants.”

Of course, that information was widely censored by social media outlets as “misinformation” when in fact, it was true, and now the people who took the vax are screwed.  

end

 

Not good: WHO is working on a “digital wallet” to store vaccination certification. The answer is to give the entire planet ivermectin.

(Phillips/EpochTimes)

WHO Is Working On “Digital Wallet” To Store Vaccination Certification: Official

 
MONDAY, JUL 12, 2021 – 09:20 PM

Authored by Jack Phillips via The Epoch Times,

A World Health Organization (WHO) official said that the organization is working to develop a COVID-19 vaccine “digital wallet” and is also seeking to “increase the distribution” of an international certificate for those who’ve been vaccinated.

Dr. Michael Ryan, an Irish epidemiologist who is head of the WHO health emergencies program dealing with COVID-19, made the remarks during a daily news briefing on July 12 in Geneva.

“We have encouraged countries that want to, they may use the international certificate for vaccination and prophylaxis … that requires other countries to recognize that certificate of vaccination,” Ryan said, adding that WHO is “working to increase the distribution of the paper versions of her international certificate of vaccination prophylaxis, and also developing a digital wallet that could be used for the same purpose.”

The organization, he said, will provide more “detailed data standards” for individual countries “to generate their own digital vaccination certificate, but that does not get around the policy issues around which vaccines are recognized within that system that that is essentially an international policy issue between countries.”

Ryan didn’t provide details about the digital wallet, which sparked concern and criticism on social media on July 12 about whether such an international vaccine passport-style system could be implemented by WHO for travel.

WHO officials didn’t immediately respond to a request by The Epoch Times for comment.

Vaccine passports have been panned by civil liberties and human rights groups, who have said such centralized systems could violate individuals’ privacy. Some Republican lawmakers said passports would create a two-tier society, of unvaccinated and vaccinated individuals—with unvaccinated individuals being denied services or even their rights.

Among those critics include the left-leaning American Civil Liberties Union (ACLU), which wrote a blog post saying there is “a lot that can go wrong” with vaccine passports.

“It’s likely that such requests will become over-used as people get asked for credentials at every turn,” the group wrote in late March.

“While there are legitimate circumstances in which people can be asked for proof of vaccination, we don’t want to turn into a checkpoint society that outlasts the danger of COVID and that casually excludes people without credentials from facilities where vaccine mandates are not highly justified.”

Several Republican-led states have either passed laws or implemented executive orders barring the use of vaccine passports by local or state government offices, while places including Florida have implemented bans on private businesses from doing so.

Officials in the Biden administration said several months ago that they aren’t pushing for a federal vaccine passport mandate. Last week, however, White House press secretary Jen Psaki said the administration wouldn’t intervene if businesses use them.

“That’s not currently the role of the federal government,” Psaki told reporters“There are a number of private sector entities, universities, institutions, that are starting to mandate, and that’s an innovative step that they will take and they should take. That’s not—and we’re not taking issue with that.”

END

So let us all rush to take these vaccines now

(zerohedge)

AstraZeneca, J&J Working On ‘Modifications’ To Eliminate Potentially Deadly Side Effects

 
TUESDAY, JUL 13, 2021 – 03:25 PM

Yesterday, the FDA confirmed that the Johnson & Johnson jab may be linked to rare side effects consistent with a neurological condition known as Guillain-Barré. The news was only the latest revelation of a rare but potentially life-threatening side effect caused by the vaccines. Both AstraZeneca and J&J have been linked to cerebral blood clots, while the Pfizer and Moderna jabs (which use a new technology known as mRNA) have been linked to heart inflammation in a small number of patients.

Unsurprisingly, the media hasn’t devoted much attention to covering these defects. Authorities like the CDC insist that the benefits of the jabs far outweigh the risks, while Dr. Fauci took to CNBC Tuesday morning to offer reassurances about J&J’s new warning label while suggesting that private companies do more  to coerce Americans to get vaccinated.

Fortunately for the small number of patients who are potentially at risk of developing a vaccine-induced side effect, the makers of the AstraZeneca and J&J jabs (which both use adenovirus technology) are working on modifications that could lower – or eliminate – certain dangerous side effects, according to WSJ.

Thanks to help from scientists around the world, early stage research has helped to identify what’s causing the blood clots. Fast-developing clues into how the clots form (driven in part by independent scientists in Europe, the US and Canada) are boosting hopes of identifying the cause and possibly re-engineering AstraZeneca’s shot by next year, according to some of these people.

Still, it’s too early to know whether either shot can be modified, or whether doing so would make commercial sense, according to WSJ’s anonymous sources.

For both AstraZeneca and J&J, eliminating the rare blood-clotting issues and the other neurological symptoms described above would be major victories for two companies that have lost their leading positions in the vaccine race. The changes could even help turn the shots into “moneymakers.”

But first scientists say they need to understand whether the problem is one of the ingredients in the shots, the purification process or something that’s embedded in how the vaccine’s work (which would be a bigger problem). Sarah Gilbert, an Oxford vaccinologist and co-inventor of the vaccine, says her team is focused on figuring out what exactly triggers the immune response underpinning the clots.

In other news, Reuters reports that European regulators haven’t received key data and other materials from the creators of Sputnik V, the Russian-developed vaccine that’s already being used by a small number of EU nations, but is seeking approval for use across the EU.

Sources told Reuters that the failures are likely due to the Gamaleya Institute’s lack of experience in dealing with overseas regulators. “They are not used to working with a regulatory agency like the EMA,” the person close to the agency said, referring to Gamaleya and its scientists.

A J&J spokesman said the company supports “continued research and analysis as we work with medical experts and global health authorities.” AstraZeneca has said it is “actively working with the regulators and scientific community to understand these extremely rare blood-clotting events, including information to drive early diagnosis and intervention, and appropriate treatment.”

END

DATA ON VACCINE DEATHS/COVID DEATHS

FROM MY SON:

Vaccine deaths increased by 2043 to over 9000. The current doubling rate of vaccine deaths is now around 2 weeks. Remember that the VAERS database has a lag of around 7 weeks. So I expect this ugly trend to continue as the vaccinations ramped up exponentially.

 
Covid deaths increased by 1545.
 
The real numbers are obviously much worse. Vaccine deaths are massively undercounted and Covid deaths are massively overcounted. There are different PCR rules for vaxxed vs unvaxxed – for vaxxed, they use a much lower cycle threshold, vs unvaxxed where there are over 90% false positives. Health care professionals are discouraged from reporting vaccine injury. Hospitals in the US receive extra $$$ for Covid illness and death. So the real ratio is probably more like 4:1 to 10:1 vaccine deaths to Covid deaths.
 
The vaccine deaths are tragically much younger than the Covid deaths. You can see some evidence of that here going beyond the statistics – these are real people, healthy people, that are dying unnecessarily.
 
a must view…
 
Dr Fleming is without a doubt one of the top heart specialists dealing with virus and bacteria]
talks about ADE  + other stuff

Engineering, Pandemic Bioweapon with Dr. Richard Fleming

 

 
 

Engineering, Pandemic Bioweapon with Dr. Richard Fleming

end

Another good one: Dr Martin and Dr Reiner

Dr David Martin & Dr Reiner Talk Mind Blowing Facts!

 

 

end

 

GLOBAL INFLATION/GLOBAL HUNGER

Hunger hits 15 year highs and this will be a global crisis

(zerohedge)

Pandemic-Driven Hunger Hits 15-Year High As Global Crisis Unfolds 

 
TUESDAY, JUL 13, 2021 – 02:45 AM

The State of Food Security and Nutrition in the World 2021 (SOFI 2021) report warns food insecurity and malnutrition have hit 15-year highs and are likely to worsen. 

Well before the COVID-19 pandemic, the world was on track to minimize hunger and malnutrition by 2030. But the virus pandemic disrupted economic flows around the globe, unleashing supply chain hell, compounded by disruptive weather, along with overstimulation by central banks and governments, helping to induce inflation, which has put the world at a critical juncture. 

A staggering 811 million people went hungry in 2020, or about 10% of the entire world population. The decade ending in 2014 saw the number of undernourished people fall to 607 million and base through 2019 around 650 million. But as soon as the pandemic hit, food insecurity soared by more than 150 million people to 811 million. 

 

Source: Bloomberg 

“The report indicates that progress has been made for some forms of malnutrition, but the world is not on track to achieve any global nutrition targets by 2030,” the report said. 

Globally, 44 percent of infants under 6 months of age were exclusively breastfed in 2019 – up from 37 percent in 2012 but the practice varies considerably among regions. Child malnutrition still persists at an alarming rate –an estimated 149 million children were stunted, 45 million were wasted and 39 million were overweight in 2020. The report presents new projections of potential additional cases of child stunting and wasting due to COVID-19. Based on a conservative scenario, it is projected that an additional 22 million children in low- and middle-income countries will be stunted, an additional 40 million will be wasted between 2020 and 2030 due to the pandemic. -SOFI

“This is a wake-up call to the entire world,” David Beasley, executive director of the World Food Programme, told an audience of a webcast Monday. 

Beasley said: “We’re heading in the wrong direction. To think that we’re going to end hunger by 2030, that’s not even possible given the direction, trajectory we’re on now.”

None of this should come as a surprise to readers as the Food and Agriculture Organization of the United Nations (FAO) global food price index recently hit a new high. The non-governmental organization warned surging food prices may induce a “potential crisis” in lower-income countries: “Rising food imports as a share of all imports can be an early warning indicator for potential crises in some areas.”  

As a reminder, ahead of the rapid rise in food prices, SocGen’s market skeptic Albert Edwards in December shared his thoughts about why he started to panic about soaring food prices. And since then, food supply chains remain broken, trillions in fiscal stimulus spent, and exploding commodity costs, we can only imagine the situation is getting worse by the month. 

More recently, Deutsche Bank’s Jim Reid reminds us that emerging markets are more vulnerable to food insecurity since their consumers spend a far greater share of their income on food than those in the developed world.

Other highlights from the SOFI report show Asia is home to most of the undernourished people post-COVID. 

 

Source: Bloomberg 

Analysts Michael Every and Michael Magdovitz of Rabobank warn that surging food prices could exacerbate global food insecurity. 

Pandemic-driven hunger may already trigger social unrest as destabilization erupts in impoverished countries such as Haiti, Cuba, and South Africa. 

 

END

Robert H sounds the warning bell to us:

A Liquidity crisis is coming soon.

 
 
 
 

We are headed into a liquidity crisis not like the one we had in 2008 but like the one we had in 1998 when long-term capital management (LTCM) in New York  blew up. 

Recently, it has been in the press that Wells Fargo is cutting off personal loans, lines of credit and the like with a concern on their part with the ending moratorium of eviction and mortgage defaults on July 31. Well maybe this is a reason, but I think it’s a little deeper than that, and that is why Buffet stepped away from the board. There are many bubble financings that have taken place and even huge bubbles exist in many stock valuations. Meanwhile the USD is actually deflating which makes it look like inflation. This is why capital has turned to private assets over government assets. Governments are losing the confidence of the public and capital at the same time. 

In the past, I have written about the fact that the EU under the ECB or European Central Bank has not only talked about having a digital currency but it’s gone out earlier this year publicly to do focus group testing on the subject. It’s clear that a policy shift is taking place and there will be a transition if not late this year early next year. The reason is that the stimulus policies going back to 2014 in the EU have totally failed and negative interest rates have destroyed the European bond market. The only remaining tool that the EU has left is to rush out a  digital currency as soon as possible as Europe runs out of time. What do I mean by that;  well the reality is that nobody is buying European bonds except the ECB itself. That means that there’s a lack of confidence in the debt that cities, municipalities, states or even national governments are producing daily. And it has gotten worse over Covid as it was expected it would be a short time line to stop and restart economies to remake them. Hence the phrase “build back better”. Except that initial lockdown failed to produce the desired results, and the hourglass is running out on the clock of debt being created as economies suffer midst the turmoil that has been created. According to the ECB apparently 80+ Central banks are looking at digital currency‘s in various stages. This will end the popularity of private digital currencies whether this comes by legislation or by some other means. Meanwhile, there is also a rising crisis in Europe that previously I have mentioned which is the crisis of separatism. Many nations from Denmark to Italy are talking this tune.  And beneath this lies the specter of civil unrest that will likely produce both chaos and civil disobedience on unimaginable scale. And in such times ethnic and National prejudices can quickly rise producing situations like one that has besieged  South Africa.

In keeping with this folly, the other day, Macron delivered a speech to the French public on television. He announced  authoritarian measures that takes France off the tourist and business  list, for many people.  He has made vaccinations MANDATORY for caregivers, store clerks, waitresses, and all other workers “in contact with the public” with no exceptions for health or religion. On top of that, he has made it also MANDATORY to have a health pass to enter all restaurants, cafes, theaters, and cinemas. The reality, without a vaccination, you will not even allowed to go to the store and buy anything. Amazon should send him a great Christmas parcel! Maybe Gates will let him ride on his jet for following his advice. People will resist this push, have no doubt. And what about the Muslims in the  French ghettos, how will anyone enforce this as even the police avoid entry? The question is who else in the EU will follow his lead? 

As if this was not bad enough, Macron also announced a pension reform after the epidemic. This is the real monkey on his back and that of many countries as the lies of pension accessibility comes to roost. France like many countries can no longer pay the promises of pensions. The question is can he keep the narrative of the epidemic going long enough to see digital currency? This is the real reason for all of this. SOCIALISM fostered by the EU in Europe is dying and what he is really afraid of is an uprising of the general public. Think French Revolution. Not to be outdone in England Boris Johnson is rumored to have agreed to usher in new lockdowns at the end of September.  This is what the rush to digital currency is about to avoid a collapse of confidence. But people have woken up and are not stupid. This is why we are seeing rising prices on private assets, be it houses, comic books, paintings and the like as people lose confidence in government. And the scale and mood of protests will change and grow in weeks and months to come. People who lose dignity and hope have little to lose and new lockdowns where ever they maybe, will ignite a storm that will seize up economies and countries much more than we have seen to date. And we can expect many more shortages of various kinds to coincide with these efforts. Especially as supply chains issues remain unresolved and grow.

Enjoy summer, as fall promises to be full of twists and turns as interests and agendas collide. At some point between mid August and the beginning of November we’re likely to see some sort of event occur in Europe that will make this very apparent to everyone. As this game of borrowing with no intention of ever paying back comes to an end with all of its’ consequences.

END

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

 

Michael Every… 

NONE TODAY
end
 

7. OIL ISSUES

END

8 EMERGING MARKET& AUSTRALIA ISSUES 

AUSTRALIA/COVID//

Australia’s COVID worsens despite the lockdowns!

(zerohedge)

Australia’s COVID Outbreak Worsens Despite Economy-Crippling Lockdowns

 
MONDAY, JUL 12, 2021 – 09:00 PM

By some inexplicable phenomenon, Sydney’s COVID outbreak has continued to worsen (albeit by margins that most cities would consider negligible) despite the lockdown measures that have been in place for nearly three weeks at this point.

Now, the prospect for another lockdown extension looms as Australia’s largest city and the surrounding state – New South Wales, Australia’s largest by population – reports 112 new locally transmitted COVID-19 cases, almost all of which were linked to Sydney. However, there was a silver lining: the number of newly infected out in the community declined to 34 from 45.

But fears about the delta variant, which has been driving the spread, might lead to even more draconian measures.

State Premier Gladys Berejiklian said it was this last figure that would, in the coming days, determine whether Sydney’s lockdown, due to end on Friday, would be extended.

“That’s the number we need to get as close to zero as possible,” Berejiklian said during her daily televised briefing. “It is really up to us. The health expert advice will be based on what those numbers look like. I can’t be clearer than that.”

Sydney is bracing for a longer and stricter lockdown after continued increases in COVID-19 cases, while the New South Wales Premier stated things are going to get worse before they get better.

The outbreak has prompted the Australia-Singapore travel bubble to be delayed until at least the end of the year, according to Australian press reports, despite the fact that nearly all of the new cases reported on Monday involved family members or friends of previously diagnosed patients.

Meanwhile, a new report from Deloitte showed that consumer movement-related activity in the city’s central business district has plunged by nearly 90% in the two weeks since the Sydney lockdown started compared to its levels from two years ago. Even in Melbourne, where restrictions were just lifted, movement remained off 80% from the levels a year ago.

The drop in activity is placing small businesses and restaurants in a difficult position. The iconic Melbourne rooftop bar Madame Brussels announced Monday that it would become the latest victim of the pandemic when it closes its doors next week after 15 years. “The city’s just not coming back,” co-owner Paula Scholes said.

Andrew’s Bird & Pet Palace, which has been operated for nearly 40 years by the same couple, took in just A$150 in sales on Sunday, vs. an average of more than A$3,000 ($2,245).

With a total of around 31.2K cases and 911 deaths tallied since the start of the pandemic, Australia has fared far better than many of its rivals. 

 

END

SOUTH AFRICA

ANARCHY!!

“Anarchy On The Ground” – South Africa Deploys Military Amid Widespread Social Unrest  

 
TUESDAY, JUL 13, 2021 – 11:00 AM

South African President Cyril Ramaphosa deployed the military Monday to restore law and order after days of violent protests and mass looting following the imprisonment of former leader Jacob Zuma. The latest round of social unrest is some of the worst since the mid-1990s. 

The widespread looting and social unrest were triggered by last week’s incarceration of former President Zuma. Ramaphosa addressed the nation Monday evening, pleading for calm and for looters to consider the consequences of their actions.

“We are therefore mobilizing all available resources and capabilities to restore order,” Ramaphosa told the nation.

“Let me be clear: we will take action to protect every person in this country against the threat of violence, intimidation, theft, and looting.”

“What we are witnessing now are opportunistic acts of criminality,” the president said. He also warned that unrest could undermine efforts to quell the virus pandemic.

“Our vaccination program has been severely disrupted just as it is gaining momentum.” 

The president also warned that in a matter of weeks, “there’s a huge risk of food insecurity and medication insecurity.” 

His comments on national television come 24 hours after COVID lockdowns were extended for another two weeks. 

The deployment of the army and other forces have been sent to several townships in KwaZulu-Natal, Gauteng, Mpumalanga, and the North West, as the local police have been overwhelmed by the violence. 

The unrest has already disrupted business activity in parts of the country and could undermine the economic recovery and confidence in the country by foreign investors. 

“The disquiet about Zuma’s arrest is being used as an excuse for sheer, opportunistic looting,” said Busisiwe Mavuso, the chief executive officer of Business Leadership South Africa, which represents some of the largest corporations in the country.

“The anarchy on the ground puts yet another nail in our ailing economy’s coffin.”

According to Bloomberg, More than 200 shopping malls were looted on Monday, and retailers had lost an estimated 2 billion rand ($137 million). There’s also been widespread looting of warehouses. 

Meanwhile, the reaction in markets was most pronounced in the Rand…

If the growing unrest is not contained, then expect the Rand to weaken against the dollar even more.

 

end 

VENEZUELA

 

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

Euro/USA 1.1844 DOWN .0019 /EUROPE BOURSES /ALL MIXED  

USA/ YEN 110.23  DOWN  0.102 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3849  DOWN   0.0037  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2476  DOWN .0020

 

Early TUESDAY morning in Europe, the Euro IS DOWN BY 19 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1849 Last night Shanghai COMPOSITE CLOSED UP 18.69 PTS OR 0.53%

 

//Hang Sang CLOSED UP 448.17 PTS OR 1.63%

 

/AUSTRALIA CLOSED UP .10% // EUROPEAN BOURSES OPENED ALL MIXED 

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL MIXED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED UP 448.17 PTS OR 1.63% 

 

/SHANGHAI CLOSED UP 18.69  PTS OR 0.53% 

 

Australia BOURSE CLOSED UP .10%

Nikkei (Japan) CLOSED UP 149.22 PTS OR 0.52%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1812.50

silver:$26.22-

Early TUESDAY morning USA 10 year bond yr: 1.353% !!! DOWN 1 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.982 DOWN 2  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 92.37 UP 11 CENT(S) from MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

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And now your closing  TUESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.30% DOWN 1  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.026%  DOWN 4/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.32%//  DOWN 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.71 DOWN 3   points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 39 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.293% 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  TUESDAY

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

Euro/USA 1.1813  DOWN    0.0050 or 50 basis points

USA/Japan: 110.38  UP .055 OR YEN DOWN 6  basis points/

Great Britain/USA 1.3854 DOWN .0033 DOWN   33   BASIS POINTS)

Canadian dollar DOWN 45 basis points to 1.2501

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP).. 6.4658 

 

THE USA/YUAN OFFSHORE:    (YUAN UP)..6.4689

TURKISH LIRA:  8.67  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.026%

Your closing 10 yr US bond yield DOWN 0 IN basis points from MONDAY at 1.365 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.982 DOWN 2 in basis points on the day

 

Your closing USA dollar index, 92.55  UP 29  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 0.70 PTS OR 0.01% 

 

German Dax :  CLOSED DOWN 0.87 PTS OR 0.01% 

 

Paris CAC CLOSED DOWN 0.78  PTS OR   0.01% 

 

Spain IBEX CLOSED DOWN 121.90  PTS OR  1.38%

Italian MIB: CLOSED DOWN  126.55 PTS OR 0.50% 

 

WTI Oil price; 75.07 12:00  PM  EST

Brent Oil: 76.31 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    74.06  THE CROSS  LOWER BY 0.38 RUBLES/DOLLAR (RUBLE HIGHER BY 38 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.293 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 : 75.35//

BRENT :  76.20

USA 10 YR BOND YIELD: … 1.423..UP 6 basis points…

USA 30 YR BOND YIELD: 2.045 UP 4 basis points..

EURO/USA 1.1778 DOWN 0.0085   ( 85 BASIS POINTS)

USA/JAPANESE YEN:110,63 UP .305 ( YEN DOWN 31 BASIS POINTS/..

USA DOLLAR INDEX: 92.77  UP 51  cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3813  down 73  POINTS

the Turkish lira close: 8.62  UP 2 BASIS PTS

the Russian rouble 74.34   UP 0.06 Roubles against the uSA dollar. (UP 6 BASIS POINTS)

Canadian dollar:  1.2515 DOWN 58 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.293%

The Dow closed down 107.39 POINTS OR 0.31%

NASDAQ closed down  94.31 POINTS OR 0.84%

VOLATILITY INDEX:  17.12 CLOSED UP  0.95

LIBOR 3 MONTH DURATION: 0.130%//libor dropping like a stone

USA trading day in Graph Form

Raging Inflation Sparks Bond Bloodbath, Slams Stocks As Dollar Spikes

 
 
TUESDAY, JUL 13, 2021 – 04:01 PM

The highest Core CPI in 30 years stole all the headlines today, prompting a significantly hawkish shift in Fed rate-change expectations…

Source: Bloomberg

While most will reflect on the soaring inflation print as driving bonds bloodbathery today, it was actually a shitty 30Y auction that really triggered the selling…

Source: Bloomberg

30Y pushed above 2.00%, stalling at the short-squeeze ledge from last Tuesday…

Source: Bloomberg

Breakevens surged…

Source: Bloomberg

Stocks were all hit on the surprise CPI print but all bounced back with Nasdaq soaring back into the green. But the weak-auction-driven spike in yields spooked stocks again and this time there was no bounce. Small Caps were the hardest hit as the algos tried their hardest to keep Nasdaq green…

Or put another way…

The massive divergence between Nasdaq and Russell 2000 sent the ratio to fresh cycle lows (its lowest since December 9th)…

JPM and Goldman released earnings and both were down on the day…

Source: Bloomberg

VIX spiked above 17 twice today…

The dollar double-spiked today on the CPI and auction…

Source: Bloomberg

…and is at a critical resistance level…

Source: Bloomberg

Cryptos were hit also with Bitcoin sliding back below $33k, but remaining on its recent range…

Source: Bloomberg

As Ethereum tumbled below $2,000 to its lowest since June 28th…

Source: Bloomberg

Gold had a whipsaw-y day with CPI sparking some swings that found support at $1800 and rebounded…

Oil managed gains after recent losses with WTI pushing back above $75 ahead of tonight’s API inventory data…

Finally,  according to data compiled by Bloomberg, U.S. technology stocks may soon be more costly than they ever were in the dot-com era.

Source: Bloomberg

The S&P 500 Information Technology Index closed Monday at 7.43 times sales; that’s less than 0.3% from a record in March 2000.

The industry is challenging the high 3 1/2 years after the S&P 500’s price-sales ratio first topped its own March 2000 peak. Technology-stock valuations are at odds with “unprecedented headwinds” such as fiercer competition, higher taxes and stricter regulations, Morgan Stanley Wealth Management wrote in a report Monday.

Will this surge in stocks prove as transitory as The Fed hopes inflation is?

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

Stocks, Bonds, & Bitcoin Slammed After Surging CPI; Dollar, Rate-Hike Expectations Spike

 
TUESDAY, JUL 13, 2021 – 08:54 AM

The dollar spiked after the much hotter than expected CPI print…

Source: Bloomberg

Stocks were slammed…

…and bond yields rose…

Source: Bloomberg

Bitcoin is also getting hit…

Source: Bloomberg

And finally, gold was hit on the print (as dollar spiked) but rapidly ripped back higher, then was puked back to the lows of the day…

As rate-hike expectations jumped back to price in 1 rate-hike by the end of 2022…

Source: Bloomberg

Will The Fed ignore all of this?

ii) Market data
CPI rises at the fastest pace in quite some time: .9% month/month and it came in much hotter than expected (expectations of .5% month/month)

Transitory? US Core Consumer Prices Are Rising At Fastest Pace In 30 Years

 
TUESDAY, JUL 13, 2021 – 08:40 AM

“Transitory” or not? That’s the question today as all eyes dives into the details behind the surge in Consumer Prices for signs that Powell’s plan is failing. BofA forecast headline and core CPI prints to come in hotter than expected (and they’ve nailed every print this year) and they were right again with a massive beat – Headline CPI rose 0.9% MoM (against expectations of +0.5%), the biggest MoM jump since June 2008. This sent YoY headline CPI soaring to +5.4%,

Source: Bloomberg

The index for used cars and trucks rose sharply for the third consecutive month, increasing 10.5 percent in June. This was the largest monthly increase ever reported for the used cars and trucks index, which was first published in January 1953 

Which is odd since the Manheim index is already declining (transitory)

Used vehicles accounted for one third of the gain in the CPI last month…

Some line items saw price declines:

  • The index for household furnishing and operations fell 0.1 percent in June after rising 1.3 percent in May. The index for communication was unchanged for the month.

  • The medical care index declined 0.1 percent in June, as it did in May. Medical care component indexes were mixed.

  • The index for prescription drugs declined 0.2 percent in June after falling 0.3 percent in May.

Core CPI soared 0.9% Mom (against exp of +0.4%), exploding at 4.5% YoY – its highest since Sept 1991

Source: Bloomberg

Goods prices are rising dramatically faster than Services. Goods are up 8.7% YoY, the fastest annual surge since Jan 1981

Source: Bloomberg

Shelter inflation is now surging, up 2.58% YoY in June from 2.21% in May, and the highest since last April…

Get back to work Mr.Powell!!!

end

iii) Important USA Economic Stories

END

inflation watch

Big paint supplier PPG raises prices for the second time this year due to obvious inflation..  Input costs going through the roof

(zerohedge)

“I’m Not Seeing This As Transitory”: Paint Supplier PPG Raises Prices For Second Time This Year Due To “Obvious” Inflation

 
MONDAY, JUL 12, 2021 – 07:00 PM

Paint supplier PPG knows that inflation isn’t just “transitory”.

In fact, the company, who supplies to major manufacturers like Ford and Boeing, is raising the prices of its paint and coatings solely as a result of “inflation in raw material and logistics costs”, according to a new Bloomberg article

Chief Executive Officer Michael McGarry made sure PPG was one of the first to raise prices earlier this year, as the company anticipated an inflationary environment. Now, they’re raising prices again. 

McGarry said: “What we’re obviously studying now is the need to be out with a third set of price increases. Inflation is across-the-board, it’s obvious and customers don’t have a lot of good ways to counter the argument that we need to have price relief.”

And it isn’t like PPG is just a localized business experiencing a one-off in costs: the company is in more than 70 countries and is still “feeling the pinch from the prices of oil, freight and distribution going up and raw materials running scarce”. 

“I’m not seeing this as transitory. This work-from-home phenomenon is going to lead to additional wage inflation, because people are going to have the opportunities to figure out where they want to work,” McGarry continued. 

McGarry says the trend is visible in the U.S. and he expects to see it “spread to other regions”. 

Meanwhile, one man’s finished product is another man’s raw material: the price of paint and coatings going up will add to raw material supply costs for companies like Stellantis, who is one of PPG’s biggest customers. This comes as other raw materials for automakers, like copper, aluminum and steel, are all rising in price as well. 

PPG generates about 40% of its revenue in the U.S., Bloomberg notes. It has boosted pricing for 17 consecutive quarters and McGarry says the steak should continue through the rest of this year.

end

As per the used car price explosion in the CPI, today’s number should be the peak

(zerohedge)

BofA: This Is The End Of The Used Car Price “Explosion”; Negative Payback Will Hammer Future CPI Prints

 
TUESDAY, JUL 13, 2021 – 10:34 AM

As discussed earlier, inflation came in smoking hot today, with core CPI rising 0.88% mom in June, up from the 0.74% increase in May, and nearly double the expected 0.5% print. This resulted in the yoy rate surging to 4.47% yoy, more than double the Fed’s inflation target, and up from 3.8%, which is the highest since November 1991. Headline inflation also rose 0.9% mom in June, with the % yoy rate climbing to 5.4% from 5.0%

Looking at the components, there were no surprises: as BofA’s Alexander Lin writes in his CPI post-mortem, used cars and trucks “exploded” for another 10.5% mom, while new cars also rose an impressive 2.0% mom. In total, used cars accounted for one third of the gain in CPI.

Travel related components also saw outsized strength with lodging away from home spiking 7.0% mom and airline fares rising 2.7% mom. The latter supported a broader transportation services gain of 1.5% mom, which was also boosted by a 5.2% jump in car & truck rentals and a 1.2% rise in auto insurance.

Stickier OER stayed hot, rising 0.32% mom, with rent of primary residence somewhat lower at a still solid 0.23% mom. The OER pickup puts it back near the top of the range seen in the last business cycle.

The bottom line: while transitory drivers continue to boost core CPI by unprecedented numbers, persistent inflation – shelter and rent – is also strengthening at an alarming pace (as we discussed in May in “Goldman Warns Of “Substantial” Surge In Home Prices, Expects Bigger Housing Bubble Than 2007“).

Next, looking on a contribution basis, new cars added 9bp to core CPI, used cars added 42bp, lodging added 9bp and transportation services added 10bp. Putting it all together, these components contributed 70bp to core CPI this month. As such, the rest of core accounted for 18bp, which in normal times would be a relatively healthy increase in prices. In other words, even without all the transitory strength, other components of inflation were solid—the aforementioned Owner-Equivalent Rent pickup likely being the primary driver.

This brings us to the $64 trillion question: how much of inflation is transitory and how much is permanent, or as BofA asks “to what extent will we continue to see transitory strength in core CPI?”

The good news is that after some stunning gains, some of the key “transitory” components have topped out. Consider the following:

  • Lodging away from home is now 2% higher than Feb 2020 levels, which could mean much more limited upside going forward.
  • Meanwhile, airline fares still have scope to rise as they remain 9.5% below prepandemic levels.
  • On used cars, the ytd increase for CPI is now at 29%, which is now greater than the ytd increase in Manheim wholesale prices which were up 26% at its high in May and moderated to 24% in June.

As such, BofA believes this may be the end of used car price strength in CPI, versus the bank’s previous belief that it could materialize over the next few months as retail lags wholesale. To the extent that wholesale prices continue to head lower, the bank’s economists note that the US now faces a growing near term risk of negative payback in used cars, which could lead to more depressed core inflation prints. Indeed, as BofA found in a separate report published overnight, such negative payback scenarios could lead to substantial transitory disinflation over the next year that could bring broader core inflation below target, despite improving persistent inflation.

Finally, as to whether any of this data will impact the Fed’s actions, BofA does not believe this report changes much. As BofA summarizes, “transitory price pressures remain rampant in the core inflation data and could be nearing their end, with risk of a negative payback over the next year. Persistent inflation, reflected largely by OER, has improved although it is not signaling troublesome inflation.”

In conclusion, here are the heatmaps of sequential changes in CPI …

… and annual changes:

 

END

Deutsche bank’s key credit strategist asks two important questions re inflation expectations

(zerohedge)

One Bank Asks A Very Uncomfortable Question As 2022 Inflation Expectations Surge

 
TUESDAY, JUL 13, 2021 – 11:41 AM

In his CPI post-mortem note, Deutsche Bank credit strategist Jim Reid cynically recaps the market action this morning, writing that “after another huge US inflation print and big beat relative to expectations (which saw core CPI rise the most since Nov 1991), the market has already looked through the report and looked at some of the temporary “distortions” as tempering the strength.”

Indeed, as we showed earlier, used cars were up +10.5% mom which surprised the market after surveys from the likes of Manheim had pointed to a recent mean reversion of prices. Sure enough, echoing BofA’s conclusion that used car prices will now detract from CPI in the near term, Reid notes that “at some point soon it will likely do so in the CPI.”

And while it is certainly true that at some point soaring inflation prints will reverse, at this point Reid asks two uncomfortable questions:

  • first, whether this current bout of inflation is temporary or not, how did consensus once again (and for the 3rd month in a row) completely miss the scorching hot inflation print?
  • second, with inflation forecasts creeping ever higher, at what point will the surge in 2022 inflation render the “transitory” debate moot?

Regarding the latter, in his Chart of the Day, the DB strategist shows the the evolution of consensus forecasts on Bloomberg for 2021 and 2022 FY YoY inflation…

… and says that “as a result of continued beats, expectations for 2021’s FY CPI figure has started to climb and interestingly 2022 has followed. If that is correct it shows it can’t all be transitory, as if you believe it was, you might actually believe that base effects would mean that 2022 FY inflation growth should actually be lower than you’d previously thought.”

Jenna Ellis resigns from the GPO in protest against the betrayal of Trump. She found evidence of skullduggery at the top levels of the party

(zerohedge)

 

“I Will Stand For The Truth” – Jenna Ellis Resigns From GOP To Protest ‘Betrayal’ Of Trump

 
TUESDAY, JUL 13, 2021 – 10:10 AM

As President Trump stakes his claim to the leadership of the Republican Party heading into the 2022 midterms, Jenna Ellis, a senior legal adviser to former President Trump’s 2020 campaign, announced late Monday that she would be leaving the Republican Party in protest after exposing alleged skullduggery at the top levels of the party.

On Monday night, Ellis lashed out at top party officials on her Real America’s Voice show “Just the Truth,” slamming GOP chairwoman Ronna McDaniel and other top party officials, saying “all of them should resign now” and insisting she wouldn’t return to the party until they leave.

Ellis says she’s changing her party registration “until the party decides it wants to be conservative again.”

She also laid into McDaniel, insisting that “we need to demand that they resign. And we need to say you’re not getting another dime of our money or our support,” she said. “I’m not even going to be registered as a Republican after this because I am too ashamed to be part of a party that still has Ronna McDaniel as the chairwoman.”

“Even if I stand alone for the truth, I will stand for the truth,” Ellis said on Monday.

Ellis tweeted over the weekend that Chief Counsel for the Republican National Committee Justin Riemer had abandoned efforts to assist Trump just days after last year’s election – even as the party raked in $220MM in fundraising money. Riemer reportedly told another staffer that Ellis and Rudy Giuliani’s campaign to challenge the election was “a joke”.

“I led the RNC legal team in over 55 lawsuits on behalf of the President’s reelection, winning a majority of them, including the only successful post-election lawsuit. Any suggestion that I did not support President Trump or do everything in my power to support the RNC’s efforts to reelect President Trump is false,” Riemer said in a statement reported by the outlet. “I will say publicly now what I then said privately: I take issue with individuals who brought lawsuits that did not serve President Trump well and did not give him the best chance in court.”

Following the twitter fireworks, Ellis posted a screenshot of her Twitter profile purportedly showing McDaniel had blocked her.

END
USA/COVID//VACCINE
Figures:  democrat groups are planning to “fact check” all private text message that contain “misinformation about vaccines!
(Watson/SummitNews)

Democrat Groups Plan To “Fact Check” Private Text Messages

 
TUESDAY, JUL 13, 2021 – 11:20 AM

Authored by Paul Joseph Watson via Summit News,

Groups allied with the Biden administration are planning on working directly with cellphone network providers to ‘fact check’ private SMS messages if they contain “misinformation about vaccines.”

The revelation is made in a Politico article which explains how the White House is preparing to characterize “conservative opponents of its Covid-19 vaccine campaign as dangerous and extreme.”

The decision to ramp up the information war against vaccine skeptics was made after conservatives showed resistance to the Biden administration’s plan to go “door-to-door” to increase vaccination rates.

“Biden allied groups, including the Democratic National Committee, are also planning to engage fact-checkers more aggressively and work with SMS carriers to dispel misinformation about vaccines that is sent over social media and text messages,” states the report.

“The goal is to ensure that people who may have difficulty getting a vaccination because of issues like transportation see those barriers lessened or removed entirely.”

The prospect of the DNC and other government-affiliated groups having access to Americans’ private text messages represents a chilling surveillance dystopia.

Interfering with and trying to ‘fact check’ people’s personal conversations is also utterly demented.

Recall that ‘fact-checkers’ infamously declared the Wuhan lab leak hypothesis to be a “debunked conspiracy theory” at the start of the pandemic, only to be forced into a humiliating reversal later on.

In doing so, they may have helped facilitate one of the biggest cover-ups in modern history, so what business such groups have in snooping on people’s private SMS messages is anyone’s guess.

*  *  *

 

iv) Swamp commentaries/

What a riot!! Texas Governor will arrest Democratic lawmakers who fled the state on a private jet as they attempted to block voting rights bill

(zerohedge)

Texas Gov To Arrest Dem Lawmakers Who Fled State On Private Jet To Block Voting Rights Bill

 
TUESDAY, JUL 13, 2021 – 09:29 AM

Update (0930ET): Texas’s Republican governor, Greg Abbott, has vowed to arrest the Democrat lawmakers who fled the state in an attempt to stop an overhaul of election laws…

“As soon as they come back in the state of Texas, they will be arrested, they will be cabined inside the Texas capitol until they get their job done,” Abbott said.

*  *  *

Texas Democrats have up and walked out on the legislative process.

As AmericanThinker.com’s Andrea Widburg details, the background to the story is that the Texas legislature, which currently has a Republican majority (18-13 in its Senate and 83-67 in its House) is poised to pass a voting reform bill. As with similar bills across America, the point is to ensure that the people voting have a legal right to vote and are, in fact, who they claim to be.

The most contentious issues for Democrats are cleaned-up voting bills and, especially, photo ID. The problem is that most Americans support photo ID. According to a Monmouth Poll, when it comes to photo ID, 62% of Democrats, 87% of independents, and 91% of Republicans support it. Texas, with a strong Republican majority, is intent upon passing a bill that the vast majority of Americans would back.

So, what do the Democrats do? Like Brave Sir Robin, they run away:

Texas Democrats fled their state on private jets Monday in order to stop Republicans in the state from passing their voting rights bills through the state legislature.

‘Today, Texas House Democrats stand united in our decision to break quorum and refuse to let the Republican-led legislature force through dangerous legislation that would trample on Texans’ freedom to vote,’ the Texas state House Democratic caucus said in a statement.

At least 58 Democratic lawmakers left Austin to fly to Washington D.C. on two private jets chartered for the occasion and will use the time in the nation’s Capitol to rally support for federal voting legislation. 

The Democrats’ departure paralyzed the Texas state house as the legislature requires a quorum of two-thirds of lawmakers be present to conduct business. It’s also akin to a move Democrats used in 2003 when they fled to neighboring Oklahoma to block Republicans‘ plan to redraw the state’s congressional districts.  

The Democrats risk arrest and expect state Republicans to send law enforcement officials, possibly including the Texas rangers, after them.

To permanently block the two voting bills that Texas Republicans are pushing, the Democrats would have to stay away through the end of the special legislative session, which can last as many as 30 days.

In addition to this profoundly anti-democratic (small “d” democratic) act, the Democrats on the lam seem to have forgotten that Greta Thunberg would be very angry at them for using private jets. Depending on how many passengers those jets carry, they “create ten times as much greenhouse gas as an economy class traveller on a commercial flight, as well as 150 times more than those travelling by train.” (Think about that the next time some leftist billionaire who only travels by his private jet scolds you about your carbon footprint.)

One more thing: I hope you noticed those beaming smiles, courtesy of the fact that none of them are wearing masks…

Oh, and there was that alcohol issue. As the Democrats were ferried somewhere on a bus (presumably to the private jet airport), Julie Johnson snapped a selfie in which she proudly boasted about how the Texas Democrats are protecting democracy by refusing to let the Republican majority vote on an act that comports with the public will.

The whole thing would have been a lot more profound if the snap hadn’t caught a case of Miller Lite on the bus too. Johnson deleted the tweet, but Twitchy caught it:

They promptly earned some media coverage and went without masks, in violation of the FAA’s COVID restrictions.

But as PJMedia.com’s Bryan Preston details below, this is not the first time such malarkey has occurred.

Inexperienced media seem to think Texas Democrats abandoning their posts rather than doing their jobs is new.

Who are these “veteran capitol observers” you’re tweeting about?

They must not have been around all that long.

The Texas Democrats did this before, back in 2003. I’ll quote a bona fide veteran capitol observer who wrote about it at the time — who is actually a veteran in addition to observing the capitol: me.

The Ardmore fraternity party, as state GOP types have taken to calling the 53 wayward Democrats, said their flight was to protest what they called a highly partisan Republican redistricting plan. State Rep. Jim Dunham of Waco led the group, insisting that the plan was not only too partisan, but that adopting it in a non-census year was an outrage. Dunham has a short memory — he had his own district redrawn in 1997 so that he could build a house in a different neighborhood without having to run in a new district. Of course, 1997 was not a census year. The Ardmore 53 have also tossed up the canard of “diversity,” arguing that the GOP plan would dilute African-American votes and diminish their representation. That’s a funny argument, given that the state currently has three African Americans holding statewide elected office, and all are Republicans.

The truth is that the only thing about the GOP plan that is unprecedented is the fact that Republicans drew it. Tellingly, none of the fleeing 53 voiced any concern about the plan before heading for the Oklahoma flatlands. The two Democrats that did raise concerns during the legislative session had their questions addressed, and stayed in Austin to support the plan’s passage. Republican party Executive Director Wayne Hamilton recalled a bit of Texas history when summing up the state’s view of the hightailing Democrats: “The fact is, the line was drawn at the Alamo and these guys all cut and run.”

Indeed. Perhaps it’s telling that the Democrats who run the media in San Antonio are trashing the Alamo itself now, just about every day. They never saw a fight they weren’t eager to turn tail and run away from and they’re happy to kick the dead if it suits their political aims. Neither is very Texas behavior.

The 2003 Democrats didn’t accomplish anything by running off to Oklahoma. Today’s Democrats won’t accomplish anything either. They are the butt of informed jokes across the Lone Star State.

Double gross. They couldn’t even feign being Texan and loft some Shiners? C’mon.

The state House speaker is signaling he may penalize them, following Gov. Abbott, who already has. Democrats hold an awful lot of chairmanships and vice chairmanships in the Texas House despite the fact that Republicans control it. It would be a shame if anything happened to those chairmanships and vice chairmanships.

Then there’s redistricting, which will be the subject of another special session later this year. District lines and therefore seats will be in some state of uncertainty. The Texas GOP also has a new chairman, elected Sunday, who might have thought about all this. The Democrats’ flight north certainly presents an opportunity.

The Texas Democrats have become a full HOA of Karens, seeking to speak with the manager until the manager — Texas voters — tells them something they don’t want to hear. Texas voters want secure elections in which it’s easy to vote but dang near impossible to cheat. The Texas Democrats don’t want to hear that.

So they’ve boarded a comfy chartered flight, sans masks and with weak non-Texas beer, to belch too much carbon into the skies and skedaddle away north. Typical.

end

Trump Releases Letter From Ex-US Attorney Alleging Barr Pressured Him Not To Probe Voter Fraud Claims

 
TUESDAY, JUL 13, 2021 – 04:45 PM

Authored by Isabel van Brugen via The Epoch Times,

Former President Donald Trump on Monday released a letter he received from a former federal prosecutor in Pennsylvania last month, outlining how the attorney was allegedly pressured by former Attorney General William Barr against investigating claims of voter fraud and election irregularities in the state.

William M. McSwain, who served as the chief federal law enforcement officer in the Eastern District of Pennsylvania from April 2018 to January 2021, addressed a letter (pdf) to Trump on June 9 outlining his allegations.

“U.S. Attorney from the Eastern District of Pennsylvania was precluded from investigating election fraud allegations. Outrageous!” the former president said in a statement releasing the letter.

McSwain in his letter to the former president expressed his discontent with the instructions he said he received from Barr following the November 2020 presidential election.

“President Trump, you were right to be upset about the way the Democrats ran the 2020 election in Pennsylvania,” McSwain wrote.

“On Election Day and afterwards, our Office received various allegations of voter fraud and election irregularities,” he continued.

“As part of my responsibilities as U.S. Attorney, I wanted to be transparent with the public and, of course, investigate fully any allegations.”

“Attorney General Barr, however, instructed me not to make any public statements or put out any press releases regarding possible election irregularities,” the former state attorney added.

“ I was also given a directive to pass along serious allegations to the State Attorney General for investigation—the same State Attorney General who had already declared that you could not win.”

Days before the presidential election last year, Pennsylvania Attorney General Josh Shapiro wrote on Twitter that “Trump is going to lose” if “all the votes are added up” in Pennsylvania.

McSwain said that while he “disagreed with that decision,” he did as instructed as “those were my orders.”

He added, “As a Marine infantry officer, I was trained to follow the chain of command and to respect the orders of my superiors, even when I disagree with them.”

Barr in December 2020 told The Associated Press that the U.S. Justice Department had uncovered no evidence of voter fraud “on a scale that could have effected a different outcome in the election.”

A month earlier, Barr had issued a directive to U.S. attorneys nationwide authorizing them to probe any “substantial allegations” of voting irregularities before the certification of the presidential election.

The Department of Justice didn’t immediately respond to a request for comment from The Epoch Times.

Trump last month said during an appearance on Just the News’ “Water Cooler” that he never admitted defeat in last year’s presidential election and that he has “not conceded.”

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

WaPo: FDA expected to announce that the Johnson & Johnson vaccine has been linked to a serious but rare side effect called Guillain-Barré syndrome, in which your body’s immune system attacks your nerves
    About 100 preliminary reports of Guillain-Barré have been detected after 12.8 million doses of Johnson & Johnson vaccine were administered, the Centers for Disease Control and Prevention said in a statement… These cases have largely been reported about two weeks after vaccination and mostly in men, many aged 50 years and older…  https://www.washingtonpost.com/health/2021/07/12/johnson-and-johnson-warning/
@GiancarloSopo: This is deeply moving. Watch as Cubans wave the American flag while marching against the island’s 62 year-old communist dictatorship on the streets of Havana.  Never forget what America represents to millions across the world.
https://twitter.com/GiancarloSopo/status/1414330530200440836
 
Rep. @Jim_Jordan: Protesters in Cuba ‘Seem to Love the American Flag More than Some of Our Olympic Athletes’  https://dailycaller.com/2021/07/12/rep-jim-jordan-cuba-flag-olympics-tweet/
 
@bennyjohnson: (Psaki) “The statement…we put out in the president’s name this morning, in his voice of course conveying his support for the people of Cuba.” (Major Freudian Slip!)  So does that mean the statement didn’t come from Joe Biden?  https://twitter.com/bennyjohnson/status/1414642348496142344
 
President Biden @POTUS: We stand with the Cuban people as they bravely assert their fundamental and universal rights, and as they all call for freedom and relief from the tragic grip of the pandemic and from the decades of repression and economic suffering.
 
GOP Rep @laurenboebert: Biden’s statement on what’s happening in Cuba failed to condemn Communism or Socialism. Imagine being afraid to condemn the two most harmful ideologies because you might anger your base, who clearly now embraces those ideologies.
 
@KurtSchlichter: The CIA/NSA cabal did not see the Cuban uprising coming, but it was all over @TuckerCarlson’s texts.
 
Bill Gates was a ‘total a–hole’ at Sun Valley: source https://trib.al/QvfLSHD
 
Biden allied groups, including the Democratic National Committee, are also planning to engage fact-checkers more aggressively and work with SMS carriers to dispel misinformation about vaccines that is sent over social media and text messages… [Team Biden wants to censor, intercept, and halt private text messages and social media!  The US Deep State has gone full Stasi/KGB!!!]
https://www.politico.com/news/2021/07/12/biden-covid-vaccination-campaign-499278
 
In Monday’s missive, we wrote Powell appears at Congress tomorrow.  Powell delivers his Semi-Annual Monetary Report to the House Financial Services Committee on Wednesday at noon.
 
Today – 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.
 
Monday’s rally was disappointing and dull after the early jump.  As we keep harping, traders of all classes are euphorically long for the start of Q2 earnings season.  The Bank Stock Index (BKX) had surged 6.17% for the past two sessions; but the index went flat after 13:00 ET.  Traders are long and expect to unload into greater fools that buy the expected great big bank results.
 
A big early hurdle for financial markets will be the June CPI data; 0.5% m/m is expected.  Unless June CPI is horrendously bad, traders will buy the dip because they are conditioned to buy dips and the expectations of an earnings season rally are beyond irrationally exuberant.
 
Expected earnings: PEP 1.53, FAST .41, FRC 1.72, JPM 3.12, CAG .52, GS 9.93
 
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.
 
ESUs are +1.00; NQUs are +8.00; USUs are -0.04 at 21:00 ET.  The dollar is down a tad. 
 
Expected economic data: June NFIB Small Biz Optimism 99.5; June CPI 0.5% m/m, Core 0.4% m/m
 
S&P 500 Index 50-day MA: 4225; 100-day MA: 4111; 150-day MA: 4001; 200-day MA: 3870
DJIA 50-day MA: 34,333; 100-day MA: 33,576; 150-day MA: 32,605; 200-day MA: 31,579
 
S&P 500 Index – Trender trading model and MACD for key time frames
MonthlyTrender and MACD are positive – a close below 3745.57 triggers a sell signal
WeeklyTrender and MACD are positive – a close below 4135.86 triggers a sell signal
DailyTrender and MACD are positive – a close below 4266.98 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 4353.15 triggers a sell signal
 
AG Barr Forbid Investigations Into 2020 Election Crimes Per US Attorney from Pennsylvania
President Trump discusses this at the 43:00 mark in the video below… I just a day ago received a statement from the US Attorney, highly respected in Pennsylvania, that Bill Barr would not allow him to investigate voter fraud.  Can you believe it?  Now you have to understand, Philadelphia is the second most corrupt place, so I understand ok, in the nation.  You know what first is?  Detroit. Detroit was so corrupt.  Philadelphia was so corrupt.  But the US Attorney was not allowed to investigate…
https://www.thegatewaypundit.com/2021/07/breaking-ag-barr-forbid-investigations-2020-election-per-pennsylvania-us-attorney/
 
@EmeraldRobinson: The RNC is basically a day camp for the mediocre kids of big GOP donors.
 
@nytimes: The U.S. Capitol Police is badly damaged, demoralized and depleted six months after the attack by a violent mob. More than 70 officers have retired or resigned since the Jan. 6 riot, which cost the lives of two members of the force…  https://www.nytimes.com/2021/07/12/us/capitol-police-riot.html
 
@EmeraldRobinson: The DOJ has been forced to retract the claim that they seized a “fully assembled” LEGO replica of the Capitol from a Jan 6th protester but not before its credibility has been fully disassembled.
    @Cernovich: When the judge does nothing to punish this clear fraud on the court and fabrication of evidence – which is a more serious crime than trespassing – the public will understand what the federal judiciary’s role truly is.
 
Me thinks the NYT is NOT conveying some germane reasons for Capitol Police flight.  Occam’s Razor indicates that the same reasons for US police flight in general are pertinent to the Capitol Police.
 
Rapper Walking Out of Chicago Jail Shot 64 Times, Police Report Says  https://breaking911.com/rapper-walking

 

end

Let us conclude Tuesday with this offering courtesy of Greg Hunter

 

See you Wednesday night!

One comment

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

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