JULY14//GOLD UP $15.50 TO $1824.90//SILVER UP 7 CENTS TO $26.19//GOLD STANDING AT THE COMEX ADVANCES TO 4.2674 TONNES/SILVER FALLS SLIGHTLY TO 18.655 MILLION OZ//BIG STORY TONIGHT: DR DAVID MARTIN: IT IS TWO HRS BUT A MUST VIEW//CORONAVIRUS UPDATES/VACCINE UPDATES//SOUTH AFRICA STILL IN TURMOIL//DEMOCRATS UNVEIL A $3.5 TRILLION INFRASTRUCTURE DEAL//SWAMP STORIES///

 

GOLD:$1824.90 UP $15.50  The quote is London spot price

Silver:$26.19  UP 7 CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1828.20 LONDON SPOT  4:30 pm

ii)SILVER:  $26.25//LONDON SPOT  4:30 pm

 

 

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

 

 

PLATINUM  $1132.98  UP $19.34

PALLADIUM: $2829.65  UP $7.30  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  52/84  

EXCHANGE: COMEX
CONTRACT: JULY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,809.400000000 USD
INTENT DATE: 07/13/2021 DELIVERY DATE: 07/15/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 2
624 C BOFA SECURITIES 1
624 H BOFA SECURITIES 16
657 C MORGAN STANLEY 5
661 C JP MORGAN 78 52
737 C ADVANTAGE 6 7
880 C CITIGROUP 1
____________________________________________________________________________________________

TOTAL: 84 84
MONTH TO DATE: 1,335

 

ISSUED:  78

Goldman Sachs:  stopped: 2

 
 

NUMBER OF NOTICES FILED TODAY FOR  JULY. CONTRACT: 84 NOTICE(S) FOR 8400 OZ  (0.2612 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  1335 FOR 13500 OZ  (4.152 TONNES)

 

SILVER//JULY CONTRACT

28 NOTICE(S) FILED TODAY FOR 140,000  OZ/

total number of notices filed so far this month 5904  :  for 29,520,000  oz

 

BITCOIN MORNING QUOTE  $32002 DOWN 4  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$32,007 UP ONE DOLLAR 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  UP $15.50 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 UP 7 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 171.00 up $1.78 OR 1.05%

XXXXXXXXXXXXX

SLV closing price NYSE 24.33 UP $0.25 OR 1.04%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Let us have a look at the data for today

THE COMEX OI IN SILVER ROSE BY A FAIR SIZED 439 CONTRACTS  TO 154,699, AND CLOSER TO THE NEW RECORD OF 244,710, SET FEB 25/2020. THE GAIN IN OI OCCURRED DESPITE OUR  $0.05 LOSS IN SILVER PRICING AT THE COMEX  ON TUESDAY . 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 839 CONTRACTS. (4.20 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: -11 CONTRACTS

WE WERE  NOTIFIED  THAT WE HAD A SMALL  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 1800,, AS WE HAD THE FOLLOWING ISSUANCE:,  JULY 0 AND SEPT 1800 ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 1800 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

33.610  MILLION OZ INITIAL STANDING FOR JULY

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

SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.05)  BUT WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS WITH TUESDAY’S TRADING.  WE HAD A STRONG GAIN OF 839 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 75,000 OZ EFP JUMP TO LONDON:  NEW STANDING 33.610 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:

6740 CONTRACTS (FOR 8 TRADING DAY(S) TOTAL 6740 CONTRACTS) OR 33.700MILLION OZ: (AVERAGE PER DAY: 842 CONTRACTS OR 4.210 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY: 33.700  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:  33.700 MILLION OZ )  WELL BELOW PAR WITH JUNE)

RESULT: WE HAD A FAIR INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 439 , WITH OUR $0.05 LOSS  IN SILVER PRICING AT THE COMEX ///TUESDAY .…THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 400 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A STRONG SIZED GAIN OF 839 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR TINY $0.05 LOSS 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 75,000 OZ EFP JUMP TO LONDON /NEW STANDING 33.610 MILLION OZ/

 

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  400  OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A FAIR SIZED INCREASE OF 439 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR  $0.05 LOSS IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.13/ TUESDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

WE HAD  28  NOTICES FILED TODAY FOR 140,000 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  SIZED 12,257 CONTRACTS TO 495,798 ,,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: -5225 CONTRACTS.

THE POWERFUL SIZED INCREASE IN COMEX OI CAME DESPITE OUR SMALL GAIN IN PRICE OF $3.70///COMEX GOLD TRADING/TUESDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE ALSO HAD ZERO LONG LIQUIDATION AS, WE HAD A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 19,282 CONTRACTS.  WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JULY AT 3.144 TONNES WHICH WAS FOLLOWED BY A 5700 OZ QUEUE JUMP//COMEX STANDING NOW AT 4.2674 TONNES. OUR CROOKED BANKERS ARE TRYING TO FIND METAL ON THIS SIDE OF THE ATLANTIC.
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $3.70 WITH RESPECT TO TUESDAY’S TRADING

 

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

WE HAD A STRONG SIZED GAIN OF 14,057  OI CONTRACTS (43.72   TONNES) ON OUR TWO EXCHANGES…

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1800 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 1800 & DEC 0  ALL OTHER MONTHS ZERO//TOTAL: 1800 The NEW COMEX OI for the gold complex rests at 495,798. 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  CONTRACTS: 12,257 CONTRACTS INCREASED AT THE COMEX AND 1800 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 14,057 CONTRACTS OR 59.97 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1800) ACCOMPANYING THE GIGANTIC SIZED GAIN IN COMEX OI (12,257 OI): TOTAL GAIN IN THE TWO EXCHANGES: 14,057 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 5700 OZ QUEUE  JUMP,//NEW STANDING 4.2674 TONNES// //3) ZERO LONG LIQUIDATION, /// ;4) GIGANTIC 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 : 16,452, CONTRACTS OR 1,645,200 oz OR 51.17 TONNES (8 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 8 TRADING DAY(S) IN  TONNES: 51.17 TONNES

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

THUS EFP TRANSFERS REPRESENTS  51.17/3550 x 100% TONNES  1.444% 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:        51.17 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 FAIR SIZED 439 CONTRACTS TO 154,699 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 450 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: 450 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  450 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 439 CONTRACTS AND ADD TO THE 450 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A STRONG SIZED GAIN OF 839 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES 

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 4.195 MILLION  OZ, OCCURRED WITH OUR  $0.05 LOSS IN PRICE

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 38.02  PTS OR 1.07%   //Hang Sang CLOSED DOWN 175.95 PTS OR 0.63%      /The Nikkei closed DOWN 107.75 pts or 0.38%  //Australia’s all ordinaires CLOSED UP .26%

/Chinese yuan (ONSHORE) closed UP TO 6.4644  /Oil UP TO 75.09 dollars per barrel for WTI and 76.20 for Brent. Stocks in Europe OPENED ALL MIXED /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4644. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4684/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 AN STRONG SIZED 12,257 CONTRACTS TO 495,798 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 SMALL GAIN OF $3.70 IN GOLD PRICING TUESDAY’S COMEX TRADING/.WE ALSO HAD A SMALL EFP ISSUANCE (1800 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 NON ACTIVE DELIVERY MONTH OF JULY..  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 1800 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  1800  & DEC.  0  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1800  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 14,057 TOTAL CONTRACTS IN THAT 1800 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A  STRONG SIZED COMEX OI OF 12,257 CONTRACTS.WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR JULY   (4.2674),

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

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB. 113.424 TONNES

JAN: 6.500 TONNES.

 

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $3.70)., BUT THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A GIGANTIC SIZED GAIN ON OUR TWO EXCHANGES OF 14,057 CONTRACTS. THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 43.72 TONNES,ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JULY (4.2674 TONNES)..I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE GIGANTIC 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 -5225  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 14,057 CONTRACTS OR 1,405,700 OZ OR  43.72  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:  495,798 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 49.60 MILLION OZ/32,150 OZ PER TONNE =  1542 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1542/2200 OR 70.12% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:261,758 contracts//    / volume fair//

CONFIRMED COMEX VOL. FOR YESTERDAY: 300,955 contracts// – fair//  

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

 

JULY 14

/2021

 
INITIAL STANDINGS FOR JULY COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
NIL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
7,523.324 OZ
MANFRA
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
NIL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
84  notice(s)
 
8400 OZ
0.42612 TONNES
No of oz to be served (notices)
37 contracts
 3700oz
 
0.1150 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
1335 notices
133500 OZ
4.152 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 1 deposit into the dealer
 
i) Into Manfra dealer:  7,523.334 oz
 
 
 
total deposit: 7523.334   oz 
 

total dealer withdrawals: nil oz

we had  0 deposits into the customer account
 
TOTAL CUSTOMER DEPOSITS nil  oz  
 
 
 
 
 
 
We had 0  customer withdrawals….
 
 
 
 
 
 
 
total customer withdrawals nil   oz  
 
 
 
 
 
 
 
 
 

We had 1  kilobar transactions 1 out of  1 transactions)

ADJUSTMENTS  0// 

 

 
 
 
 
 
 
 
 
 
 

The front month of JULY registered a total of 121 contracts for a LOSS of 99.  We had  156 notices filed Tuesday so we GAINED 57 contracts or an additional 5700 oz will  stand for gold at the comex as they refused to morphed into London based forwards 

 

 
 
 
 
 
AUGUST LOST 14,281  CONTRACTS DOWN TO 287,587 AS WE COUNT DOWN TO THE NEXT BIG GOLD DELIVERY MONTH!!
 
SEPT GAINED 19 CONTRACTS TO STAND AT 401
 
OCTOBER GAINED 419 CONTRACTS UP TO 22,889.

We had 84 notice(s) filed today for 8400  oz

FOR THE JULY 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 78 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 52 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 2  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 (1335) x 100 oz , to which we add the difference between the open interest for the front month of  (JULY: 121 CONTRACTS ) minus the number of notices served upon today  84 x 100 oz per contract equals 137,200 OZ OR 4.2674 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 (1335) x 100 oz+( 121  OI for the front month minus the number of notices served upon today (84} x 100 oz} which equals 137,200 oz standing OR 4.2674 TONNES in this NON- active delivery month of JULY.

We  GAINED an additional 5700 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. 4.2674 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  18,478,259.613 oz or 574.75 tonnes
 
 
 
total weight of pledged: 2,248,216.862 oz or 69.92 tonnes
 
 
registered gold that can be used to settle upon: 16,230,043.0 (504,82 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes16,230,043.0 (504,82 tonnes)   
 
 
total eligible gold: 16,935,516.661 oz   (526.76 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  35,413,776.274 oz or 1,101.51 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  975.17 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 14/2021

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
613,845.206 oz
 
 
 
 
BRINKS
CNT
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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)
28
 
CONTRACT(S)
140,000  OZ)
 
No of oz to be served (notices)
818 contracts
 (4,090,000 oz)
Total monthly oz silver served (contracts)  5904 contracts

 

29,520,000 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/349.200 million

total customer deposits today  nil   oz

we had 3 withdrawals

 
 
i) Out of CNT:    598,983.133 oz
ii) Out of Delaware: 7000.123oz
iii) Out of Brinks: 7861.950 oz
 
 
 
 
 

total withdrawals 613,845.206      oz

 
 

adjustments//0

 

 
 

Total dealer(registered) silver: 110.848 million oz

total registered and eligible silver:  349.200 million oz

a net 613,000 oz LEAVES  the comex silver vaults.

silver continually is leaving comex vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

July LOST  19 contracts DOWN to 846 contracts. We had 4 notices filed on Tuesday so we LOST 15 contracts or an additional  75,000 oz will stand for silver at the comex in this very active delivery month of July. 

 

AUGUST LOST 37 CONTRACTS TO STAND AT 1752

SEPTEMBER LOST 45 CONTRACTS DOWN TO  120,475

 
NO. OF NOTICES FILED:  28  FOR 140,000 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  5904 x 5,000 oz = 29,520,000 oz to which we add the difference between the open interest for the front month of JULY (846) and the number of notices served upon today 28 x (5000 oz) equals the number of ounces standing.

Thus the JULY standings for silver for the JULY/2021 contract month: 5904 (notices served so far) x 5000 oz + OI for front month of JULY( 846)  – number of notices served upon today (28) x 5000 oz of silver standing for the JULY contract month .equals 33,610,000 oz. ..VERY POOR FOR JULY. 

We LOST 15 contracts or 75,000 oz will NOT stand for delivery at the comex as they search out for metal on the other side of the Atlantic.  

 

TODAY’S ESTIMATED SILVER VOLUME  63,107 CONTRACTS // volume  poor//getting out of Dodge//(

 

FOR YESTERDAY  54,131  ,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  14/2021)

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   (JULY14)

 

/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 14/WITH GOLD UP $15.50 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1037.28 TONNES

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 14 / GLD INVENTORY 1037.28 tonnes

LAST;  1092 TRADING DAYS:   +112.87 TONNES HAVE BEEN ADDED THE GLD

 

LAST 942 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 14/SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.150 MILLION OZ

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 14/2021      555.150 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Peter Schiff:

Schiff: US Government Spending Sure Isn’t Transitory

 
WEDNESDAY, JUL 14, 2021 – 01:24 PM

Via SchiffGold.com,

The mainstream narrative is that the Fed will soon admit that inflation isn’t transitory. At that point, it will raise interest rates and taper its bond-buying program to fight rising prices. But this narrative ignores the elephant in the room – the ever-increasing national debt.

In June, the US government ran another big deficit of $174.16 billion, continuing the trend of overspending and massive budget shortfalls.

With three months remaining in fiscal 2021, the budget deficit stands at a staggering $2.24 trillion, according to June Monthly Treasury Statement.

Despite the fact that the economy has opened back up, the US government continues to run massive budget deficits month after month after month.

Uncle Sam spent $623 billion in June, a 4.3% increase over May’s outlays. That’s over half a trillion dollars in federal spending in just one month. Total spending for fiscal 2021 now stands at $5.29 trillion. Spending is up 6% in fiscal 2021 compared to the same period last year.

The Treasury received $449 billion in June. Treasury receipts were bolstered by the late tax filing deadline this year.

As of July 12, the national debt stood at $28.49 trillion.

According to the National Debt Clock, the debt to GDP ratio is 128.23%. Despite the lack of concern in the mainstream, debt has consequences. More government debt means less economic growth. Studies have shown that a debt to GDP ratio of over 90% retards economic growth by about 30%. This throws cold water on the conventional “spend now, worry about the debt later” mantra, along with the frequent claim that “we can grow ourselves out of the debt” now popular on both sides of the aisle in DC.

There is no sign that the federal government plans to rein in spending any time soon. Congress continues to wrangle over an infrastructure deal with a $2 trillion price tag. President Biden has also pitched “free” community college and childcare. This all piles on top of the $6 trillion in spending packed into the proposed 2022 budget.  Biden has pitched a number of corporate and individual tax increases to pay for the spending, but he’s already had to back off on some of the taxes due to political pressure. That means most of this borrowing and spending will continue to be paid for through an inflation tax that will hit us as the Federal Reserve monetizes this massive debt.  That means more bond purchases and more money printing.

And this raises the $64,000 question:

How will the Fed raise rates and taper bond purchases when the US government has to continue borrowing money?

How can an economy built on borrowing and spending function if interest rates rise?

Simply put — it can’t.

The fact is that given all of the debt the US economy can’t handle the high interest rate environment necessary to tame rising prices. The Federal Reserve boosted interest rates modestly to 2.5% in 2018 and all hell broke loose. The stock market crashed, and the Fed was forced back to loose monetary policy even before the coronavirus pandemic. As Schiff noted in a podcast, if the economy couldn’t handle higher rates in 2018, it certainly can’t handle them today.

The level of debt is so much greater than it was then. And so, the more debt you have, the lower interest rate is required to be able to service that debt. So, if two-and-a-half percent was too much when the national debt was significantly lower than it is today, then that threshold is much lower. I don’t even think we could survive a move to one percent from the Fed.”

It seems almost certain the massive budget deficits will continue into the foreseeable future. That means the government will need to continue borrowing and it will need the central bank to keep its thumb on the bond market to make that possible. That means no tightening.

You can find a more in-depth breakdown of the deficit HERE.

end

EGON VON GREYERZ//MATHEW PIEPENBERG//PAM AND RUSS MARTENS

Watch: Radical Fed Morphs From Central Bank To Bailout Kingpin… And Americans Aren’t Paying Attention

Tyler Durden's Photo
BY TYLER DURDEN
WEDNESDAY, JUL 14, 2021 – 04:20 PM

Authored by Pam Martens and Russ Martens via WallStreetOnParade.com,

This evening, the PBS program, Frontline, will do something that corporate broadcast media has failed to do since the financial crash of 2008. Frontline will air the results of its year-long investigation of the most powerful financial institution in the world – the central bank of the United States – known as the Federal Reserve, or simply “the Fed.”

The Fed’s radical makeover of itself began in December of 2007 when the Fed decided, on its own, that it had the authority to secretly pump out trillions of dollars in cumulative loans to prop up the mega banks on Wall Street, as well as to the foreign banks that were on the other side of Wall Street’s hundreds of trillions of dollars in derivative trades. The Fed secretly ran that program through at least July of 2010 according to the eventual audit that was conducted by the Government Accountability Office. (That audit only came about because Senator Bernie Sanders attached an amendment to the Dodd-Frank financial reform legislation of 2010.)

The Fed’s latest massive bailout operation began on September 17, 2019, months before there was a case of COVID-19 anywhere in the world. The full scope of this operation and other bailout programs remain a dark secret at the Fed, casting a pall over investors’ confidence in the transparency and stability of the U.S. financial system.

James Jacoby, Writer, Producer and Correspondent, “The Power of the Fed.”

Frontline writers and producers James Jacoby and Anya Bourg, who are the force behind tonight’s Frontline documentary, The Power of the Fed, will now become part of a rarefied group of individuals who have mustered the determination to cut through the Fed’s insidiously cultivated armor of Fed-speak and its preposterous structure that allows it to create trillions of dollars of money electronically out of thin air for bailouts, with only feigned oversight by Congress.

We have not yet seen the Frontline program but we have high hopes given the past work of Frontline. (See here and here.)

The Frontline team has the opportunity tonight to significantly build on the herculean work of two other journalists who spent years investigating the Fed and advancing Americans’ understanding of its kleptocratic nature: Mark Pittman and Nomi Prins.

Mark Pittman was the Bloomberg News reporter responsible for the Bloomberg lawsuit against the Federal Reserve during the 2008 financial crash. Pittman had asked the Federal Reserve Board, under a Freedom of Information Act (FOIA) request in April and May of 2008, for details of four lending programs, including the borrowers’ names and the amounts borrowed.  The programs were the Discount Window, the Primary Dealer Credit Facility, the Term Securities Lending Facility, and the Term Auction Facility. When the Fed brazenly stonewalled Pittman, Bloomberg News filed the lawsuit on his behalf.

On November 10, 2008 Pittman and his colleagues, Bob Ivry and Alison Fitzgerald, wrote an article headlined “Fed Defies Transparency Aim in Refusal to Disclose.” The article reports as follows:

“The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

“Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.”

Pittman shared in a Gerald Loeb award for Bloomberg’s five-part series, “Wall Street’s Faustian Bargain,” which described how a group of Wall Street bankers had created the subprime doomsday machine over Chinese food. Many believed Pittman’s investigations of the Fed put him in line for a Pulitzer. But just a week before the secretive Fed Chair Ben Bernanke was scheduled to sit for his Senate Confirmation hearing for another term at the helm of the Fed, Pittman died of a heart attack at age 52 on November 25, 2009.

At the time of Pittman’s death, the Fed was still refusing to release the details of its trillions of dollars in secret loans, despite losing its court battle at the District Court. The Second Circuit appellate court decision, also ruling against the Fed, would not come until March 19, 2010, four months after Pittman’s death.

But even after the appellate decision went against it, the Fed refused to release the data. First the Fed asked for a rehearing by the Second Circuit Court of Appeals. When that was rejected, a Wall Street consortium of banks, that were the actual recipients of the trillions of dollars in secret loans, appealed the case to the U.S. Supreme Court. That appeal failed as well and the Fed was forced to finally release the astonishing sums it had showered on global banks with zero awareness by any elected member of the George W. Bush administration or any elected member of Congress.

When all of the Fed’s bailout programs were tallied up, the tab came to a staggering, cumulative $29 trillion, as meticulously analyzed by the Levy Economics Institute. The Fed had kept the American people completely in the dark as it sluiced these trillions to Wall Street trading houses, foreign banks, the insolvent bank, Citigroup, even hedge funds that were shorting (betting against) the market.

Today, the Fed is still stonewalling the public and refusing to release the names of the recipients of some of its emergency bailout programs and its $9 trillion repo loan program that began on September 17, 2019.

We reached out to Mark Pittman’s mother, Donna Pittman-Nealey, for her thoughts on her son’s work to bring transparency to the Fed. She told us this:

“I can only say he was a pioneer in every way throughout his life.  He was never afraid to tackle any problem when he felt he needed an answer.

“I am so proud of all he did. So brave a person, smart, and kind. He was so loved. We miss him.”

Nomi Prins has also done an extraordinary public service in bringing sunlight to areas that the Fed would much rather keep in the shadows. Prins authored the 2018 book, Collusion: How Central Bankers Rigged the World.

Prins writes that “Eight years after the [2008] crisis began, the Big Six US banks – JPMorgan Chase, Citigroup, Wells Fargo, Bank of America, Goldman Sachs, and Morgan Stanley – collectively held 43 percent more deposits, 84 percent more assets, and triple the amount of cash they held before. The Fed has allowed the biggest banks on Wall Street to essentially double the risk that devastated the system in 2008.”

Prins explains in the book that what the U.S. Fed and other major central banks like the Bank of Japan and European Central Bank are doing is “conjuring”  money. The money has been conjured or fabricated, writes Prins, because the Fed and other central banks are allowed to electronically create money at the push of a button.

The Fed is so captured as a regulator of the banks that Prins says the Fed imposed no obligations on them in exchange for its bailouts. Prins writes that the banks that “inhaled this cheap money were not required to increase their lending to the Main Street economy as a condition of the availability of that money….”

For its part in creating the most unstable financial structure in U.S. history, the Fed is absolutely shameless. Prins writes that “The Fed absolved itself of all responsibility for financial stability in the big bank landscape in June 2017 when it allowed thirty-four of the largest Wall Street banks, including the Big Six, to pass its stress tests. In turn, the banks took this opportunity to buy more of their own shares, elevating their stock prices rather than expanding their loan services for small businesses and Main Street customers.”

This maneuver by the Fed resulted in announcements that Wall Street banks planned “to buy back $92.8 billion of their own stock as a direct response to the Fed’s blessing,” notes Prins, effectively meaning that the Fed was “greenlighting legal manipulation of the stock market.” Indeed, says Prins, “The Dow soared.”

The Fed and those same banks are back to the exact tricks again today.

Prins’ policy recommendations for removing the stranglehold that the Fed has on America is to “implement actual oversight of the conjurers and dedicate effective channels through which to question and curtail their authority and actions.”

Let’s hope that the questioning of the unbridled powers of the Fed begins in earnest with tonight’s Frontline documentary.

END

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

:

ii) Important gold commentaries courtesy of GATA/Chris Powell

important history lesson from Craig Hemke

(Hemke/Sprott)

Craig Hemke at Sprott Money: Corrected golden lessons

 

 

 Section: Daily Dispatches

 

10:10p ET Tuesday, July 13, 2021

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report, writing tonight at Sprott Money, recalls the U.S. State Department cable from 1974 showing that the U.S. gold futures market was endorsed by the government, if not essentially established by the government, in the expectation that it would divert private investment demand away from real metal and into derivatives whose prices were more easily controlled.

Eventually, Hemke writes, those derivatives will fail and investors should purchase only physical gold.

His analysis is headlined “Corrected Golden Lessons” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/Corrected-Golden-Lessons-Craig-Hemke-July-13-2021

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

* * *

END
For your interest…

Berlin gold coin heist defendants lose appeal

 

 

 Section: Daily Dispatches

 

From Deutsche Welle
Bonn, Germany
Tuesday, July 13, 2021

A German federal court today rejected the appeal of two defendants who had been jailed for stealing a massive gold coin from Berlin’s Bode Museum.

The court in the city of Leipzig concluded that there were no “legal errors to the disadvantage of the defendants” in their February 2020 sentencing and, as such, their prison terms were found to be legally binding.

In total, three men were convicted of stealing the coin. Two defendants, aged 23 and 21, were tried as juveniles and were handed four and a half years in prison. The third convicted defendant, a 21-year-old, was sentenced to three years and four months.

Two of the defendants were from an organized crime clan and were known to law enforcement before the theft.

The other man worked at the Bode Museum as a security guard and was found to have helped the other two gain entry to the facility.

 

https://www.dw.com/en/berlin-gold-coin-heist-defendants-lose-appeal/a-58254269

* * *

END

Bankers continue to supply massive short gold/silver paper

(Ed Steer)

Ed Steer’s Gold & Silver Digest: A somewhat ugly CoT report

 

 

 Section: Daily Dispatches

 

10:44p ET Tuesday, July 13, 2021

Dear Friend of GATA and Gold:

The Monday edition of GATA board member Ed Steer’s Gold & Silver Digest report, headlined “A Somewhat Ugly CoT Report,” is posted in the clear at GoldSeek here:

https://goldseek.com/article/somewhat-ugly-cot-report

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

end

COMMODITY/
 

-END-

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

i) Chinese yuan vs usa dollar/CLOSED UP AT 6.4644 

 

//OFFSHORE YUAN 6.4684  /shanghai bourse CLOSED  DOWN 38.02 PTS OR 1.09% 

HANG SANG CLOSED DOWN 109.75 PTS OR 0.38 %

2. Nikkei closed UP 109.75 PTS OR 0.38%

3. Europe stocks  ALL RED

 

USA dollar INDEX UP TO  92.60/Euro RISES TO 1.1801

3b Japan 10 YR bond yield: FALLS TO. +.021/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110.48/ 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:: 75.09 and Brent: 76.20

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 RISES TO -.294%/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: 1.02: D08GEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.70

3k Gold at $1820.50 silver at: 26.23   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 24/100 in roubles/dollar) 74.10

3m oil into the 75 dollar handle for WTI and 76 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 110.48 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 .9187 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0841 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year RISING to 0.294%

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 1.394% early this morning. Thirty year rate at 2.019%

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

6.  TURKISH LIRA:  UP  TO 8.61..  VERY DEADLY

Futures, Treasury’s Jump After Powell Says Economic Recovery Hasn’t Progressed Enough To Begin Tapering

BY TYLER DURDEN
WEDNESDAY, JUL 14, 2021 – 08:50 AM

We said Powell would be dovish and he did not disappoint.

Fed Chair Powell’s prepared remarks ahead of his testimony before the House Financial Services Committee today at 12:00pm have been released and they served as rocket fuel to S&P futures which surged to new all time highs after the central bank head said that “monetary policy will continue to deliver powerful support to the economy until the recovery is complete” which apparently won’t be for a long time as the jobs market is still “a ways off” from the “substantial further progress” needed to begin bond-buying taper. Just as importantly, while Powell did concede that inflation is “likely to remain elevated in coming months before moderating” adding that expectations are broadly consistent with the Fed target.

Addressing soaring prices, Powell sticks to the party line that “Inflation is being temporarily boosted by base effects, as the sharp pandemic related price declines from last spring drop out of the 12-month calculation” although as noted yesterday that does not explain why 2022 inflation forecasts are rising. 

In addition, Powell said that “strong demand in sectors where production bottlenecks or other supply constraints have limited production has led to especially rapid price increases for some goods and services, which should partially reverse as the effects of the bottlenecks unwind.” The only question is when will the bottlenecks finally unwind…

Some more details from Powell’s speech:

  • Household and business balance sheets are quite strong, core financial institutions are resilient
  • Strong job gains expected to continue in coming months as health crisis continues easing
  • Household spending rising at a rapid pace, housing demand is strong and business investment is solid
  • At our June meeting, the Committee discussed the economy’s progress toward our goals since we adopted our asset purchase guidance last December. While reaching the standard of “substantial further progress” is still a ways off, participants expect that progress will continue. We will continue these discussions in coming meetings. As we have said, we will provide advance notice before announcing any decision to make changes to our purchases.

Reading between the lines, the market is delighted that Powell appears to again be kicking the can, with odds of a taper announcement in July – or in the near-future – fading, to the point where even the Jackson Hole meeting in August may prove premature to unveil the taper.

That’s why in kneejerk reaction, spoos surged by 10 points, rising just why of their all time high of 4,383.75 hit yesterday…

… while bonds are bid, with 10Y yields dropped as low as 1.37% after Fed Chair Jerome Powell said the U.S. economic recovery hasn’t progressed enough to begin scaling back asset purchases.

Powell’s full prepared remarks are below (pdf link)

end

3A/ASIAN AFFAIRS

 

i)WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 38.02  PTS OR 1.07%   //Hang Sang CLOSED DOWN 175.95 PTS OR 0.63%      /The Nikkei closed DOWN 107.75 pts or 0.38%  //Australia’s all ordinaires CLOSED UP .26%

/Chinese yuan (ONSHORE) closed UP TO 6.4644  /Oil UP TO 75.09 dollars per barrel for WTI and 76.20 for Brent. Stocks in Europe OPENED ALL MIXED /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4644. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4684/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

 

end

CHINA //IRAN// USA

The USA are left by the wayside as China does a mega investment deal with Iran

Jay/Strategic Culture Foundation

China Mega Investment Deal With Iran Blows US Out Of The Picture

 
TUESDAY, JUL 13, 2021 – 09:25 PM

Authored by Martin Jay via The Strategic Culture Foundation,

A new world in the East is amalgamating as a direct result of American’s delusional views about where it thinks it is in the world…

China has just announced that it will invest 400 bn dollars in Iran over a period of 25 years in exchange for a great deal on Iran’s oil – in the latest move of absolute defiance against the U.S. and its secondary sanctions. Where’s this all heading?

400 bn dollars is a considerable amount of money to invest in Iran, which, since Donald Trump pulled the U.S. out of the JCPOA (otherwise called the ‘Iran Deal’) we can certainly say is a poor country. In exchange, China gets rock bottom prices on oil, while both sides enjoy the double-whammy of sending a vociferous message to Washington: your days are up as a super power who can bully countries with sanctions.

The deal was really the last thing that Joe Biden needed in barely his six month in office, where he has been weak on Russia and China and arguably pathetic in the Middle East when it comes to delivering on the ‘America is back’ rhetoric. ‘America is back’ to what, we might all wonder, given that Iran is commissioning drone strikes against U.S. forces, Afghanistan is rapidly heading towards a Taliban takeover and the Iran talks in Vienna have more or less ended with a draft of what the Guardian euphemistically calls a ‘roadmap’.

China’s investment deal with Iran sends a stark, lucid message to Joe Biden that it intends to take advantage of America’s lame ‘soft diplomacy’ geopolitics and move in with real policies, which in practical terms means investment. With GCC countries squabbling amongst themselves about oil productivity, during a six-year high on the price per barrel and an Iran deal more unlikely than ever taking shape, the region more confused than ever about how much of a two-way street America’s hegemony is in the region, the Middle East is tilting ever so slightly towards the East. It’s not just that Assad became the new friend with GCC leaders because he masterly used the Russians as a guarantor of staying in power which is driving Gulf Arab elites to look towards China as a potential new partner, but Arabs put so much more trust in China as a longer-term partner which they can rely on. Stability.

One of the reasons why a new re-worked Iran Deal is so unlikely to happen is for the same reason. How long could Washington even guarantee a sanctions-free deal? One term of Joe Biden?

Middle East leaders, as well as those in the MEMA region like Egypt are looking for a solution to an impending Arab Spring 2.0 and they don’t see any point in investing in Biden for help there, which is why they are getting closer to Assad and hedging their bets that when the brown stuff hits the fan, Russia (and perhaps even China) could be behind them to keep them in power.

For such an arrangement to happen, you have to have deals which go beyond simply rockets and guns – that is assuming that the Biden administration will eventually let a 23 bn dollar deal for F35s to even go through to the UAE, with obvious fears that technology could be shared with the Chinese if Bejiing makes the moves in the region to buddy up with GCC countries.

But this massive deal with Iran sends a message to Gulf Arab states which Washington might note. The message is that the Chinese are long-term players who are looking for long-term partners and many GCC countries’ elites will look at the deal and wonder why they are not looking at China for more partnerships in construction, energy, telecoms and even defence.

The news of the China-Iran deal came more or less with the announcement to the UAE blocking an OPEC idea to boost oil production. It gave many western media hacks the opportunity to go big on the UAE-Saudi “rift” angle to their stories. In reality though, these two GCC super states have not been on the same page for quite some time and the lack of a Big Brother (i.e. Uncle Sam) has not helped. In reality, they disagree on Iran, Qatar and even Yemen, so a war of words about 2 million barrels of oil a day is hardly anything to get hot and bothered by.

But the China deal with Iran should shake them up and make them realise that there is disarray in the Middle East which can’t be blamed entirely on the U.S. taking a step back and playing geopolitics by numbers. Biden’s understanding of the region and its nuances is often overplayed by hacks, simply because he was on a committee in Washington for years which covered the region and he was VP under Obama. He is remarkably ignorant of what it really important and is not at all able to understand the sensibilities of its leaders. For this, we can understand why he falls into traps easily set by Iran (which in reality sees a sanctions-free deal with the U.S. as hardly worth the effort), whose leaders are looking to other Big Brother models to embrace. The China deal shows the region and Washington that the U.S. is no longer the superpower who can expect so much leverage from so little action. The world is changing and the Trump move in 2018 to remove the U.S. from the Iran deal merely enhanced and emboldened a new world in the East which is amalgamating as a direct result of American’s delusional views about where it thinks it is in the world. With Iran selling so-called “illegal” oil already to China (and probably to India at the end of the year), the secondary sanctions which Trump imposed will no longer be worth the paper they’re written on. Invest in Iran.

end

 

4/EUROPEAN AFFAIRS

FRANCE/COVID

Robert to me

Macron and his folly

 

 

“No vax, no supermarket.”  Welcome comrade to communism!

Been saying this as recently as yesterday,  here is Macron announcing it.  Believe it now or ignore it until you are faced with this. And you wonder why a liquidity crisis is on the way? What if just 20% of the French public decided to order in and not go to the supermarket; you would see riots as supermarkets implode. As it is, ordinary people in cities like Paris have bug out plans in case of violence, with cars parked just outside of Paris for the get away from danger. What a way to live. I am glad I had the opportunity to see and expertise France in the past as it is a shadow of its’ former self today.

This WILL NOT STOP unless the public rises; it is too late for anything else.  They aren’t going to suddenly reconsider their depopulation agenda, nor their agenda that you will own nothing and be happy. This will end badly as sooner or later the public will rise and no amount of dictate will overcome the mob. Macron should study French history, and reflect on what happened during the French Revolution. Only this time he will face not just the French populace but the Muslim ghettos that have consumed many parts of France ruining many a town and neighborhood. Parking a luxury car in public takes on new meaning of risk in places like Nice which used to be great places to visit. And if you are thinking of travel to France today, think twice. And the same applies for investment there. 

__

French Pres. Emmanuel Macron: “The unvaccinated will bear the brunt of the restrictions rather than everyone…from the beginning of august, the vax pass will be needed for coffee shops, restaurants, supermarkets, hospitals, trains, buses etc…”

https://twitter.com/EmmanuelMacron/status/1414666117151281153

 
 

 

 
 

end

UK EU/CORONAVIRUS-DELTA/LOCKDOWN

 
END
UK
NONE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 
AFGHANISTAN/TALIBAN
It will not be long before the Taliban control Afghanistan
(zerohedge)

Afghan Special Forces Frustrated By Taliban Deadly Hit & Run, Ambush Tactics

 
TUESDAY, JUL 13, 2021 – 09:05 PM

By many accounts from international correspondents on the ground in Afghanistan, Taliban militants are continuing to make rapid gains – particularly through unpredictable hit-and-run tactics – also in places that airstrikes prove difficult to deploy given fighting sometimes erupts in urban areas. 

Especially on the outskirts of the southern province of Kandahar, a mere few hundred Taliban insurgents have kept exhausted and stretched thin US-trained Afghan commandos guessing through ambush tactics. A detailed Reuters report capturing action as it unfolded on the ground this week begins by describing

The highly trained troops had been called in to flush out insurgents who attacked regular forces and local police hours earlier, only to find that the Taliban had disappeared into the darkness leaving behind a few civilians and wounded soldiers.

“We received a report that the enemy had infiltrated here and wanted to overthrow the district,” Major Mohammad din Tasir, a member of the special forces unit deployed in the Taliban’s former stronghold of Kandahar, told Reuters after the operation. The report had suggested up to 300 Taliban fighters were present in the area, he said.

Afghan special forces, via AP

The experience of heavily armed Afghan commandos showing up to an area only to find that moments earlier the Taliban presence had “melted away” has led Kabul officials to tout this as proof last week’s claim from Taliban leadership that the terror group controls 85% of the country to be greatly exaggerated and misleading

This experience is being replicated across the country, suggesting the national military is in for a frustrating, possibly losing battle against a disciplined Taliban insurgency set on weakening the national forces’ resolve, also as Kabul is under pressure given Biden and other defense officials’ recent urging Afghan forces to stand up and take control of the country for themselves (ironically something the US could hardly do throughout much of the over two-decade long war and occupation). 

A similar account published Tuesday by a war correspondent details a harrowing ambush, also in Kandahar:  

Minutes after returning from a mission on Tuesday before dawn, a convoy of exhausted Afghan commandos were speeding back out of their base to try to extract a wounded policeman trapped by Taliban insurgents on the outskirts of Kandahar.

As they approached the checkpoint where policeman Ahmad Shah had been holed up alone for 18 hours, some 30-40 special forces soldiers in a line of Humvees came under automatic weapons fire, according to a Reuters reporter travelling with them.

A gun battle erupted as the convoy forced its way to Shah’s position, and he was hurriedly loaded into one of the vehicles. Then came a series of loud explosions; the first three of eight Humvees were struck by rockets and too badly damaged to continue. In the ensuing confusion, commandos inside the disabled vehicles rushed to switch trucks. Gunfire appeared to be coming from all around; from a cemetery to the left and the heavy cover of Eucalyptus trees to the right.

The ambush reportedly resulted in no deaths among the commandos, only a police injury, yet it underscores how easily the Taliban can quickly move with ease in a number of contested provinces to quickly hit thinly stretched army units in civilian areas, and then disappear just as fast. 

The episode also highlights another pressing problem: American-trained security forces (that Washington has spent billions if not trillions propping up over many years) including police and army units are abandoning their posts in droves often at the first hint of a Taliban offensive. 

Reuters cited Shah, the wounded policeman who was pinned down, who explained: “We were 15 people (policemen), and all my comrades surrendered (to the Taliban) except me.” He added: “I told myself that I’m not going to do that, and as long as I have a gun, why I should give up?”

Given we’ve not even yet reached Biden’s stated “military mission complete” date of August 31, the proverbial writing is on the wall in terms of the expected Taliban offensive of Kabul, after US intelligence recently warned the collapse of the US-backed Afghan government could come as early as six months.

However. that estimate itself is looking increasingly optimistic as the Taliban is said to still be making rapid gains.

END
 
IRAN/USA
Nuke talks stalled as both are negotiating prisoner swaps
(zerohedge)

Iran & US Negotiating Prisoner Swap As Nuke Talks Likely Stalled Into August

 
WEDNESDAY, JUL 14, 2021 – 05:45 AM

Now multiple months into restored nuclear negotiations in Vienna, there’s been controversy over what’s clearly been stalled momentum and which side is to blame after little to show from six prior rounds. The Associated Press reports Tuesday that “Iran’s government spokesman said Tuesday that talks with the United States about a prisoner exchange are still ongoing, two months after Washington denied an Iranian report that deals had been struck.”

And Bloomberg in its latest update writes “Nuclear talks between world powers and Iran aren’t likely to resume until after the Islamic Republic installs its new president next month, all but eliminating the chances of an early resurrection of their accord struck six years ago Wednesday and a jump in Iranian oil exports.” Further two unnamed insider sources reveal that “A seventh round of negotiations in Vienna is expected to convene around mid-August” – which is likely to further tighten oil markets, sending prices higher through the summer as we’ve been highlighting, also as the inter-OPEC spat between the Saudis and Emirates over setting crude production levels beyond July intensifies.

 

Robert Levinson, a retired FBI agent who disappeared in Iran, fate unknown.

Via The Hill: Biden administration officials are also pressing Iran for information on the fate of Robert Levinson, a former American intelligence official believed to have died in Iranian custody following his 2007 disappearance in the country.

Cabinet spokesman Ali Rabiei was described as saying that the Islamic Republic “many times said it is ready to free all prisoners, in return for the release of all Iranian prisoners in custody in the US.” Rabiei said according to Reuters, “Negotiations are underway on the exchange of prisoners between Iran and America, and we will issue more information if Iranian prisoners are released and the country’s interests are secured and the talks reach a conclusion.”

It’s reportedly remained a priority of the Biden administration in connection with Vienna nuclear talks, though the key focus and major hurdle remain the status of US sanctions that were systematically imposed and ratcheted up during the prior Trump administration. 

Likely if a significant prisoner swap breakthrough is soon announced, a finalized restored JCPOA deal would quickly follow. Tehran has remained insistent that no deal is possible without an immediate easing and rollback of all sanctions, while gaining the release of Americans in Iranian custody would mark a huge political victory for Biden at home. The Iranians, meanwhile, have affirmed they are interested in prisoner swaps based on “humanitarian interests”. 

Spanning the last two months, initially overly optimistic reports of being “on the cusp” of a final agreement have been replaced by more dour assessments of perpetual gridlock in indirect negotiations (as the US is not directly at the table, but talks to Iran via intermediary EU partners). 

But in a positive sign that the hoped-for deal could be reached, possibly even by August, Iran’s Foreign Ministry on Monday submitted a 264-page report to parliament assessing in a detailed manner the current state of Vienna talks. 

Foreign Ministry spokesman Saeed Khatibzadeh indicated that the talks are near completion. He said, “This report presents the most important achievements and challenges of the implementation of the JCPOA during the last six years and the latest results of the six rounds of the Vienna talks, which stand to reflect the failure of the US government’s maximum pressure against the resistance of the Iranian people.”

He added on a more positive note, “Taking into account the progress made, we can say that we are approaching the completion of the Vienna negotiations. There are still some unresolved issues, but it is important that the number of resolved issues is much greater than this of unresolved ones.”

The US side’s perspective has tended to be much more cautious, however, the talks are still alive and importantly pandemic aid out of the West has this week been ratcheted up – in a clear sign of growing desire to see relations open up particularly between Iran and Europe. But the previously hoped-for reaching of a final deal prior to the August 3rd change of Iranian presidents does indeed seem out of reach.

 end

6.Global Issues

CORONAVIRUS UPDATE/VACCINE//

A very important video for you to see.  The pandemic scam has now been blown wide open.  The players in the film are patent experts and they have reviewed 20 years of patents from Pfizer, et al along with Fauci, Daszak and other criminals associated with the vaccine.

PANDEMIC SCAM BLOWN WIDE OPEN. Dr David Martin | Dr Reiner Fuellmich – July 9, 2021

Published July 10, 2021
SHARE
 

Rumble — Sars is not natural, it was made and patented on 19th April 2002, just months before the “outbreak” in Asia, Patent No:7279327.
This also fully exposes the CDC’s complicity and major vaccine companies as complicit.
In one instance, a patent for a coronavirus treatment was patented 3 days before the actual coronavirus it was alleged to be able to treat.
In 2008 DARPA showed an interest in coronavirus as a biological weapon.
We also now see that Moderna had a vaccine ready for this latest “outbreak” a month before it actually happened.
MERCK wrote the script for what we see now in 2004 and called it “Sars & Bioterrorism”. They also introduced at the same time the term “The New Normal”
Moderna knew it would be placed at the first in line for the development of a vaccine in March 2019.
There’s so much more in this video, you need to watch it.
AND PLEASE SHARE!!
Your family and friends need to know this information.

END

GLOBAL INFLATION

Looks like we are getting higher global food inflation and that will lead to social unrest.

(zerohedge)

“Arab Spring Redux?” – Bloomberg Finally Connects The Dots, Higher Food Inflation Leads To Social Unrest

 
WEDNESDAY, JUL 14, 2021 – 04:15 AM

Six months after SocGen’s market skeptic Albert Edwards shared his thoughts about why he started to panic about soaring food prices and how it may cause social unrest in emerging market economies, Bloomberg chimed in with a piece titled “Arab Spring Redux? Middle East Most Exposed to Food Prices.” 

Pandemic-driven hunger is already sweeping across the world as we highlighted on Monday that global food insecurity is at 15-year highs. 

Bloomberg finally connected the dots Tuesday with “international food prices close to their 2011 peaks,” and it was this time ten years ago when food insecurity resulted in “waves of protests, especially in the Middle East.” 

An emerging market food vulnerability scorecard shows Yemen, Sudan, and Lebanon are the most at risk for uprises due to food becoming more expensive and increasing shortages. 

For months, we’ve quoted some of the most influential minds who visualized the unfolding global crisis as food insecurity worsened. The only outcome they saw was future socio-economic turmoil in emerging market economies. 

We noted in the intro that everyone’s favorite permabear, Edwards, who, unlike Goldman Sachs, began to worry about food inflation in December. Back then, he outlined similarities in rapid food inflation and how it played a considerable role in sparking unrest and ensuing revolutions in many Arab countries a decade ago. 

More recently, Deutsche Bank’s Jim Reid reminded 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.

Analysts Michael Every and Michael Magdovitz of Rabobank warned that surging food prices could exacerbate global food insecurity that ultimately results in social unrest in weaker, emerging market countries. 

Already, this month, unrest has broken out in Haiti, Cuba, and South Africa. All three of these countries were already on the brink of turmoil as food insecurity became severe after the pandemic. 

For instance, in South Africa, about 20% of the population suffers from severe food insecurity. President Cyril Ramaphosa warned Monday of increasing food and medicine shortages.

The wave of unrest may continue, and it’s about time Bloomberg recognized the trend. 

end

ALUMINUM CAN SHORTAGE

Email Robert H to me:

 

Ongoing aluminum can shortage spurs packaging manufacturer to increase production | Waste Dive

 

 
 
 
 
The other day day in Globe & Mail newspaper in Canada there was a long story on the pallet shortage and its’ impact on shipping and thus supply chain problems and rising costs. For instance it takes 20 months to get a new pallet making machine even when demand exists. And never mind the insane costs of lumber. No pallets means no supply movement as many goods cannot move without a pallet. So yes, pallet shortages end up causing other supply shortages from food to paint ( there is also a shortage of metal paint cans).

 

Previously I have written about can shortages and problems in Italy is securing enough cans for tomatoes  🍅 be it tomato paste or just canned tomatoes. What happens is such shortages as described in the attached article actually destroy crops as crops are left to rot in fields and serve to cause rising prices as supply of canned goods is lessened.
Disruptive behavior be it simply increased purchases in grocery stores over dining out, due to lockdowns, produces significant changes in supply chains which are not geared to such change and take time to adapt assuming everything else is normal which it is not.
So expect rising costs this fall and winter which will be called inflation, which really is a normal supply/ demand reaction in prices to establish equilibrium in markets. Government will react by calling this inflation and react with policies that nothing to do with the real problem and thus cause more confusion and difficulties.

Unfortunately many more shortages are already starting to appear on the horizon which will cause longer delay times this fall and winter.

https://www.supplychaindive.com/news/ball-molson-coors-aluminum-can-shortage-production/595004/

end

CANADA

Canada is tapering its weekly QE form C$3 billion to C$2 billion

(zerohedge)

Bank of Canada Tapers Weekly QE To C$2BN, Sees Lift Off In “Sometime In Second Half Of 2022”

 
WEDNESDAY, JUL 14, 2021 – 10:38 AM

As expected, the Bank of Canada took another step to normalize the emergency levels of stimulus, when it announced that it is tapering its bond purchases from C$3BN weekly to C$2BN, in what it hopes to telegraph is a sign of optimism about the speed of the recovery. Naturally, it kept the rate unchanged at 0.25%.

“The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate. This is reinforced and supplemented by the Bank’s quantitative easing (QE) program, which is being adjusted to a target pace of $2 billion per week. This adjustment reflects continued progress towards recovery and the Bank’s increased confidence in the strength of the Canadian economic outlook,” the bank said in a statement, which while echoing the Fed in claiming that while “the factors pushing up inflation are transitory” their “persistence and magnitude are uncertain and will be monitored closely.”

Looking ahead, the BOC is maintaining guidance that economic slack will be absorbed in the second half of 2022, suggesting a rate hike won’t occur until then. There remains significant surplus capacity in the economy. And while vaccine progress and easing lockdowns are encouraging, the spread of variants remains a risk.

“The Governing Council judges that the Canadian economy still has considerable excess capacity, and that the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achievedIn the Bank’s July projection, this happens sometime in the second half of 2022”

“The Bank’s QE program continues to reinforce this commitment and keep interest rates low across the yield curve. Decisions regarding further adjustments to the pace of net bond purchases will be guided by Governing Council’s ongoing assessment of the strength and durability of the recovery. We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.”

In kneejerk response, the USD/CAD reacted to the expected tapering of asset purchase to CAD 2bln from CAD 3bln, and thus fell from 1.2460 to 1.2431 before reversing and testing 1.2510 to the upside.

Eslewhere, the front-end and belly of the Canadian curve rallied and outperforms following Bank of Canada policy announcement; 2-year yields were richer by 4bp on the day — dropping as low as 0.46%. But further out the curve 10-year note futures rally to highs of the day, topping at 146.46 as 10-year yields drop from around 1.345% to 1.313% session low.

As Newssquawk summarizes, most of the statement was in-line/neutral without tilting hawkish as some had expected – with the 2021 GDP forecast also lowered, output gap left unchanged, and as the H2 2022 rate hike forecast was not brought forward.

 

end

NEW ZEALAND

He kiwi surges after the Central Bank of new Zealand unexpectedly ends their QE

(zerohedge)

 

 

 

Kiwi Surges After RBNZ Unexpectedly Ends QE Early Amid Inflation Angst

 
WEDNESDAY, JUL 14, 2021 – 10:13 AM

In a surprise announcement last night, New Zealand joined Canada (continued scaling back stimulus today) and upstaged South Korea (expected to provide guidance on its plans at Thursday’s meeting) and Turkey, with its surprise announcement that QE under the guise of the LSAP will stop from next Friday (July 23rd), as risks have switched to a potential overshoot of monetary policy targets compared to undershoot previously.

“Members agreed that the major downside risks of deflation and high unemployment have receded,” the RBNZ said.

“The committee agreed that a ‘least regrets’ policy now implied that the significant level of monetary support in place since mid-2020 could be reduced sooner.”

Signs are emerging that New Zealand’s economy may be overheating, pushing inflation toward the top of the RBNZ’s target range.

“The RBNZ has clearly changed tack,” said Nick Tuffley, chief economist at ASB Bank in Auckland.

“The risk of inflation and employment undershooting their objectives has switched to the risk of overshooting should the current level of stimulus remain in place.”

New Zealand’s s 10-year benchmark yield soaring as much as 11bps to 1.78%, and the Kiwi is up almost 1%…

Source: Bloomberg

Investors are now fully pricing in a rate hike in November, up from an 82% chance before the statement, and there’s now a 76% probability of a move in August.

With US inflation pushing multiples of New Zealand’s, we wonder what ‘science’ Powell is using relative to RBNZ’s?

end

 

 

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

 

Michael Every… 

OFF TODAY
end
 

7. OIL ISSUES

Oil rises and quite volatile under an OPEC deal with the UAE production levels to rise to 3.65 m b/d

(zerohedge)

Oil Volatile After UAE Resolves OPEC+ Standoff

 
WEDNESDAY, JUL 14, 2021 – 07:30 AM

Saudis fold?

Oil algos are unsure what to make of the latest headlines for now as Bloomberg reports that UAE has resolved its standoff with OPEC and agreed on a new higher baseline production level of 3.65m b/d (versus the UAE’s prior 3.16m b/d output level).

Additionally, the OPEC+ deal is to be extended until the end of 2022 (vs the original April 2022), according to a source.

Reminder, OPEC+ talks were postponed early July after the UAE dissented on OPEC’s August proposal, prompting some concerns over the future of OPEC, especially as reports were doing the rounds that the UAE was mulling a unilateral increase in production..

WTI tested up to to $75 and tumbled down to $74 on the headline, then rebounded rapidly back up to test $75 again…

Some context for that price level relative to pre- and post-OPEC_ meeting…

At first glance this is a positive for oil, since it removes the uncertainty of a cartel collapse, but – as price is showing us – the increased supply is a net negative (and signals to other players that they can hold the Saudis to ransom over a big deal and increase their own outputs).

Bloomberg also reports that an unnamed OPEC delegate has confirmed a new date for a meeting will be set soon.

However, oil prices will continue to be volatile, as Ed Morse, head of commodities research at Citigroup Inc., noted: “Even if OPEC decides to raise output in August, that crude will not reach refineries until after the August peak-demand period will be over.”

END

8 EMERGING MARKET& AUSTRALIA ISSUES 

 

SOUTH AFRICA

Turmoil in South Africa!!

(zerohedge)

Over 70 Killed As South Africa “Crumbles” Despite Military Intervention

 
WEDNESDAY, JUL 14, 2021 – 09:11 AM

South Africa could be on the verge of collapse, and all the warning signs are there. The looters have targeted foreign shops, shopping centers, distribution centers/warehouses, and raided gun shops. Shortages are emerging in food, fuel, and ammo. 

Over 70 have reportedly been killed since social unrest began last week after ex-president Jacob Zuma was jailed for failing to appear at a corruption inquiry. Supporters of Zuma, the nation’s first Zulu president, have been on a looting spree that has crippled KwaZulu-Natal and parts of Johannesburg and disrupted national supply routes, resulting in food and fuel shortages in the affected area. 

According to the Consumer Goods Council of South Africa, more than 600 stores have been looted with hundreds millions of dollars in damage. 

President Cyril Ramaphosa deployed the military to quell the unrest, but nothing has worked so far worked.

Civilians are defending their own communities and running low on food, fuel, and ammo; supply chains are destroyed, and it wasn’t quick, about a week, as the country faces collapse. 

On Tuesday, Sapref refinery near Durban, operated by Shell and BP, had shuttered operations due to civil unrest.

There’s also news that the country’s top chicken and meat processor, Rainbow Chickens Ltd., was raided by looters, which means widespread food shortages could be imminent. 

Allegedly, some security firms are reporting police are “low on ammunition.”

Supposedly from a security group, looters are targeting all the gun shops.  

Community members have set up private patrols to defend their community from rioters. 

Someone explains that the unrest from Zulu rioters is to starve out the “Whites/Indians.” The unknown person said this could be “civil war.” 

More scenes of the chaos. 

Even the police are looting. 

One Twitter user said, “crumbling economy – KwaZulu-Natal – Durban total destruction after mobs in the thousands descended on Nandi Drive looting destroying and burning factories warehouses private businesses shops vehicles.”

More chaos. 

Footage of private residences being petrol bombed by rioters. 

Massive manufacturing facility on fire. This was one of many set on fire this week. 

More destruction of warehouses. 

Then and now. 

 

end 

VENEZUELA

 

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

Euro/USA 1.1801 UP .0026 /EUROPE BOURSES /ALL RED  

USA/ YEN 110.48  DOWN  0.115 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3857  UP   0.0053  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2487  DOWN .0015

 

Early WEDNESDAY morning in Europe, the Euro IS UP BY 26 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1849 Last night Shanghai COMPOSITE CLOSED DOWN 38.02 PTS OR 1.09%

 

//Hang Sang CLOSED DOWN 175.95 PTS OR 0.63%

 

/AUSTRALIA CLOSED UP .26% // EUROPEAN BOURSES OPENED ALL RED 

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL RED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 175.95 PTS OR 0.63% 

 

/SHANGHAI CLOSED DOWN 38.02  PTS OR 1.07% 

 

Australia BOURSE CLOSED UP .26%

Nikkei (Japan) CLOSED UP 149.22 PTS OR 0.52%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1817.50

silver:$26.17-

Early WEDNESDAY morning USA 10 year bond yr: 1.394% !!! DOWN 3 IN POINTS from TUESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.019 DOWN 3  IN BASIS POINTS from TUESDAY night.

USA dollar index early WEDNESDAY morning: 92.60 DOWN 15 CENT(S) from TUESDAY’s close.

This ends early morning numbers WEDNESDAY MORNING

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And now your closing  WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.28% DOWN 2  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.021%  DOWN 5/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.31%//  DOWN 1 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.72 up 1   points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 41 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.318% 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  WEDNESDAY

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

Euro/USA 1.1830  UP    0.0055 or 55 basis points

USA/Japan: 110.02  DOWN .577 OR YEN UP 58  basis points/

Great Britain/USA 1.3858 UP .0053 UP   53   BASIS POINTS)

Canadian dollar UP 12 basis points to 1.2509

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The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP).. 6.4692 

 

THE USA/YUAN OFFSHORE:    (YUAN UP)..6.4619

TURKISH LIRA:  8.59  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.021%

Your closing 10 yr US bond yield DOWN 7 IN basis points from TUESDAY at 1.356 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.992 DOWN 6 in basis points on the day

 

Your closing USA dollar index, 92.38  DOWN 38  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 33.53 PTS OR 0.77% 

 

German Dax :  CLOSED DOWN 0.66 PTS OR 0.00% 

 

Paris CAC CLOSED DOWN 0.09  PTS OR   0.00% 

 

Spain IBEX CLOSED DOWN 36.50  PTS OR  0.42%

Italian MIB: CLOSED DOWN  37.68 PTS OR 0.15% 

 

WTI Oil price; 73.71 12:00  PM  EST

Brent Oil: 74.98 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    74.98  THE CROSS  LOWER BY 0.17 RUBLES/DOLLAR (RUBLE HIGHER BY 17 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.318 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 : 72.71//

BRENT :  74.40

USA 10 YR BOND YIELD: … 1.3440..DOWN 8 basis points…

USA 30 YR BOND YIELD: 1.9777 DOWN 7 basis points..

EURO/USA 1.1835 UP 0.0060   ( 60 BASIS POINTS)

USA/JAPANESE YEN:109,96 DOWN .632 ( YEN UP 63 BASIS POINTS/..

USA DOLLAR INDEX: 92.38  DOWN 37  cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3859  UP 54  POINTS

the Turkish lira close: 8.59  UP 3 BASIS PTS

the Russian rouble 74.07   UP 0.28 Roubles against the uSA dollar. (UP 28 BASIS POINTS)

Canadian dollar:  1.2506 DOWN 16 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.318%

The Dow closed UP 44.44 POINTS OR 0.13%

NASDAQ closed UP  25.90 POINTS OR 0.84%

VOLATILITY INDEX:  16.77 CLOSED DOWN  0.75

LIBOR 3 MONTH DURATION: 0.126%//libor dropping like a stone

USA trading day in Graph Form

Bonds, Bitcoin, Bullion, & Big-Tech Bid As ‘Powell Promises’ Purge PPI Panic

 

Hawkish fears from soaring PPI were almost instantly purged by promises of ‘no taper anytime soon’ from Powell but when details emerged about the Democrats’ massive tax-anything-that-moves (and is not black or poor) sparked a puke in stocks and bond yields. But stocks all rebounded as Powell began speaking again… this is so f**king sad!!! However, when Powell started to talk about inflation and housing data – tying himself in Gordian knots – stocks started to fade again…

Once he stopped talking, stocks rose…but Small Caps were monkeyhammered… again!

The ongoing collapse of Small Caps (value) relative to Nasdaq (growth) pushed the ratio to its lowest since the start of December…

Growth/Value found support again at a critical level (will it stall out here?)…

Source: Bloomberg

“Most Shorted” stocks slumped again today, now at their lowest since the start of June…

Source: Bloomberg

Bank stocks were a mixed bag again after BofA, Wells, and Citi earnings today…WFC big winner vs BofA…

Source: Bloomberg

Bond yields tumbled today, erasing yesterday’s post-CPI, post-auction spike…

Source: Bloomberg

And 10Y Yields are once again back below 1.40% (and 30Y back below 2.00%)…

Source: Bloomberg

The dollar dumped all of its post-CPI/Auction spike gains from yesterday…

Source: Bloomberg

Kiwi rallied on an unexpected early end to QE by RBNZ…

Source: Bloomberg

Bitcoin tested down below $32k overnight but rebounded…

Source: Bloomberg

Ethereum also rebounded but was unable to hold above $2,000…

Source: Bloomberg

Oil plunged on the tax headlines (after dropping on duelling OPEC+/UAE headlines) and a disappointing plunge in gasoline demand (which the algos appear to have missed is completely seasonally normal post-July 4th)…

Source: Bloomberg

But nevertheless, oil puked hard and was hit late on as Iraq jumped on the bandwagon, demanding its baseline production level be increased too…

Gold on the other hand accelerated its gains after bouncing off $1800 yesterday…

Lumber was clubbed like a baby seal again today (6th straight drop) to its lowest since the start of the year…

Source: Bloomberg

It seems we have to believe that lumber is more important than crude to believe the transitory hype…

Source: Bloomberg

Finally, we note that Powell managed to knock the market’s expectations for Fed action down modestly today (just less than 1 rate hike priced in by end 2022)….

Source: Bloomberg

a)Market trading/this AFTERNOON/USA/

Beige Book: Majority Of Contacts Say Inflation Not Transitory Amid Record Shortages Of Everything

 
WEDNESDAY, JUL 14, 2021 – 02:37 PM

There were no big surprises in the latest Fed Beige Book, at least at the token summary level: the July 14 edition of the Fed’s assessment of the economy starts with the following summary of the national economic situation: “The U.S. economy strengthened further from late May to early July, displaying moderate to robust growth.” With the economy still overheating we’d hate to see what less than moderate is these days.

But while the boilerplate verbal assessment was to be expected, what we found especially interesting is that the Beige Book itself contradicted the Fed’s own contention that inflation is transitory.

Specifically, in the Beige Book section discussing pricing pressures, we read that:

  • prices increased at an above-average pace, as seven Districts reported strong price growth and the rest saw moderate gains.
  • Pricing pressures were broad-based and grew more acute in the hospitality sector, as the reopening of hotels and restaurants confronted limited supplies of materials and workers.
  • Construction costs remained high, but lumber prices reportedly eased a bit.
  • Container prices returned to very high levels after having moderated in the spring.
  • Some contacts reported that high end-user demand enabled them to increase their prices and others said that input price pressures had reduced their profit margins.

And the punchline: “While some contacts felt that pricing pressures were transitory, the majority expected further increases in input costs and selling prices in the coming months.”

Translation: only “some” believe inflation is transitory; the “majority” expect non-transitory inflation, as in longer and higher for much longer. Which is generally in line with the even Wall Street analysts are now telling us.

Prices aside, here are the other highlights in the Beige Book on overall econ activity, and on employment and wages:

  • Sectors reporting above-average growth included transportation, travel and tourism, manufacturing, and non-financial services.
  • Energy markets improved slightly, and agriculture had mixed results.
  • Supply-side disruptions became more widespread, including shortages of materials and labor, delivery delays, and low inventories of many consumer goods.
  • Strained car inventories resulted in somewhat lower car sales despite steady demand, and home sales rose slightly despite limited supply.
  • Non-auto retail sales grew at a moderate pace on balance, and tourism was buoyed by the further abatement of pandemic-related concerns.
  • Residential construction softened in several Districts in response to rising costs, while commercial construction was mixed but up slightly on balance.
  • Bank lending activity increased slightly or modestly in most Districts. The outlook for demand improved further, but many contacts expressed uncertainty or pessimism over the easing of supply constraints.
  • Three-quarters of Districts reported either slight or modest job gains and the remainder reported moderate or strong increases in employment.
  • Healthy labor demand was broad-based but was seen as strongest for low-skilled positions.
  • Wages increased at a moderate pace on average, and low-wage workers enjoyed above-average pay increases.
  • Labor shortages were often cited as a reason firms could not staff at desired levels, with firms in three Districts delaying expansion or scaling back services due to understaffing.
  • Higher than average turnover and lower retention rates were reported in three Districts.
  • All Districts noted an increased use of non-wage cash incentives to attract and retain workers.
  • Firms in several Districts expected the difficulty finding workers to extend into the early fall.

As for the primary driver behind the continued stagflation chaos in the US economy, it is the ongoing supply-chain shock which has led to total confusion in what until recently was a “just in time” economy, resulting in record Beige Book mentions of “shortages.”

ii) Market data
Wholesale prices surge again and this is another forewarning that inflation may turn severe and even hyperinflation.
(zerohedge)

Wholesale prices surge again as U.S. endures bout of higher inflation

July 14, 2021 at 8:47 a.m. ET

MarketWatch

Producer price index surges 1% in June

The numbers: U.S. wholesale prices surged again in June, signaling that a recent bout of high inflation is likely to last at least through the summer.

The producer price index jumped 1% last month, the government said Wednesday. Economists polled by The Wall Street Journal had forecast a 0.6% increase.

The pace of wholesale inflation over the past 12 months moved to 7.3% from 6.6% in May. That’s the highest level since the index was overhauled in 2009, and likely one of the highest readings since the early 1980s.

The rate of inflation was still quite low as recently as the end of last year, but it’s risen sharply in 2021 as a fully reopened economy unleashed a wave of pentup demand that businesses have been unable to satisfy.

Put another way there’s too much money chasing too few goods — a classic definition of inflation.

Big picture: Prices of many goods and services have risen rapidly this year. That much is clear. What’s less certain is how quickly and how much inflation will slow?

The Federal Reserve has insisted for months that inflation will eventually taper off toward its 2% goal, perhaps by early next year. Chairman Jerome Powell reiterated that view on Wednesday in testimony to Congress.

Right now consumer prices are rising at a 5.4% yearly pace — the fastest increase since 2008.

There are some signs inflation will ease.

Used-car prices, a huge contributor to high inflation, are set to start declining. And the cost of both shelter and medical care, the two biggest expenses for most households, have been fairly tame this year.

It’s small consolation to consumers, though. Gas prices have surged and the cost of food is also going up. That will pinch household income for the foreseeable future.

Key details: About 60% of the increase in wholesale inflation last month reflected the higher cost of services, a volatile category that can swing sharply from month to month.

Still, the cost of most services have soared over the past several months as vaccinated Americans go out to eat, travel, fly, rent vacation homes and do all the things they couldn’t do during the pandemic. These prices had tumbled early in the pandemic.

The cost of goods also rose sharply last month. Wholesale food prices increased 0.8% in June, led by higher costs of beef, pork and chicken.

Higher prices of corn and other farm goods are expected to raise the cost of groceries in the coming months.

The cost of energy also jumped 2.1% in June.

The core rate of wholesale inflation, meanwhile, increased 0.5% last month. The core rate is a less volatile measure that strips out food, energy and trade margins. It tends to give a more accurate picture of inflationary trends.

The increase in the core rate over the past 12 months edged up to 5.5% from 5.3%. That’s the largest advance since the government first began reporting it in 2014.

The cost of raw and partly finished goods in the earlier stages of production also rose sharply again.

Higher wholesale prices, it should be kept in mind, don’t always translate into higher inflation. Companies raise or lower prices for any number of reasons.

end

iii) Important USA Economic Stories

Democrats strike a deal on 3.5Trillin infrastructure pkg.  They will do it without Republican support.

(zerohedge)

Democrats Strike Deal On $3.5 Trillion “Human Infrastructure” Package

 
TUESDAY, JUL 13, 2021 – 11:03 PM

Months after the Biden Administration and its Congressional allies leaked the first details of President Biden’s massive two-part “Build Back Better” infrastructure plan, Chuck Schumer, the Democrats’ leader in the Senate, just announced that Democrats have united behind a $3.5 trillion “infrastructure” spending package, which they can now pass using special budget rules allowing them to circumvent the filibuster.

In a late-night announcement Tuesday, Schumer said the Budget Committee had reached an agreement to allot $3.5 trillion for a spending package that would complete President Biden’s infrastructure plan.

“The Budget Committee has come to an agreement,” Sen. Schumer told reporters Tuesday night following a closed-door meeting with Democratic lawmakers.

The deal adds to the $600 billion package of infrastructure measures that Biden has struck with Republicans.

“You add that to that the $600 billion in a bipartisan plan and you get to $4.1 trillion, which is very, very close to what President Biden has asked us for,” Schumer said. “Every major program that President Biden has asked us for is funded in a robust way.”

The package will include such “infrastructure” priorities like expanding Medicare, addressing climate change, expanding childcare (after the administration just approved a new $300 handout for couples with children)  and education. The Democrats have famously deemed all this “human infrastructure”, which Republicans have vowed to reject.

Democrats will meet with Biden Wednesday, the majority leader said following the closed-door meeting.

“We are very proud of this plan. We know we have a long road to go. We’re going to get this done for the sake of making average Americans’ lives a whole lot better,” Schumer said

Previously, Schumer has promised to hold votes on both pieces of legislation before the Senate breaks for its August recess, which amounts to a pretty aggressive timeline, especially since some Republicans might rethink their support for the earlier measure now that Democrats are pushing ahead with the bigger multi-trillion-dollar package.

To be clear, the bipartisan deal struck by Biden authorizes a total of $1.2 trillion in spending over eight years. Meanwhile, the budget resolution necessary to pass the Democratic-only bill will require some more maneuvering.

Senate Democrats want to bring the bipartisan infrastructure bill to the floor as soon as next week, though negotiators have warned that is an ambitious pace. Democrats didn’t say on Tuesday night when specifically they would be ready to take the budget resolution to the floor. To pass both the budget resolution and a subsequent $3 to $5-trillion infrastructure bill through the Senate Democrats will need total unity from all 50 of their members. Democrats declined to say on Tuesday night if they had unified support.

END

According to Rep Williams the border situation is the worst that hehas seen

(Stieber/EpochTimes)

Border Situation “Worst I’ve Ever Seen”: Rep. Williams

 
TUESDAY, JUL 13, 2021 – 07:25 PM

Authored by Zachary Stieber via The Epoch Times,

The crisis at the U.S.–Mexico border has deteriorated sharply amid concerns the Biden administration will end a key Trump-era provision that enables speedy expulsion of illegal immigrants, Republican lawmakers told The Epoch Times.

The number of illegal immigrant captures at the border has soared in recent months, since President Joe Biden was sworn in. The United States is spending billions of dollars to deal with the repercussions, including hundreds of millions to shelter unaccompanied minorsMore smuggling is happening, counties are running out of jail space, and deaths are rising as the hot summer weather kicks in.

“It’s the worst I’ve ever seen it,” Rep. Roger Williams (R-Texas), who visited the border last month with former President Donald Trump, told The Epoch Times.

“You’ve got people that that are coming through here illegally, they need to be coming through the ports of entry, not between the ports of entry. We’ve got an administration that is actually inviting them to come. And some, many of them, think that they just touch the soil of the United States, they’re citizens,” added Williams, who oversaw the border while Texas secretary of state between 2004 and 2007.

Biden administration officials have claimed they’re altering the U.S. approach to immigrants to be “more humane.” They’ve said progress has been made since January, including faster processing of illegal immigrant children who arrive at the border without a responsible adult.

Vice President Kamala Harris told reporters in El Paso, Texas in June that American officials must help address what she described as the “root causes” of immigration, including a lack of economic opportunity and violence in their home countries.

“This has been a very important trip. This has been a trip that also is connected with the obvious point: if you want to deal with a problem, you can’t just deal with the problem, you have to deal with what caused it to happen,” Harris told reporters after touring a Customs and Border Protection central processing facility.

“This is why after taking a leadership role on root causes, one of the first trips I took was to Guatemala and Mexico, to see on the ground there what’s happening in terms of concerns about everything from corruption to food insecurity, to the lack of opportunity for indigenous people, women, seeing the challenges that they have faced,” she added.

Vice President Kamala Harris visits the Paso del Norte Port of Entry in El Paso, Texas, on June 25, 2021. (Jacquelyn Martin/AP Photo)

Republicans counter that the correct response centers around a simple idea—strong border enforcement.

“This philosophy of open borders is going to be the destruction of our great democratic republic that we’re all so proud of and and have enjoyed the liberties and freedoms of  past generations, and to pass it on to future generations we’ve got to have a secure border. If we don’t have that secure border, this country is in very dire straits and in grave danger of destruction,” Rep. Brian Babin (R-Texas) told The Epoch Times.

The worsening situation comes as the Biden administration reportedly considers ending Title 42, a rule that enables quick expulsion of illegal immigrants due to concerns they may be carrying COVID-19.

Ending the rule would mean abolishing “the last great tool that our border authorities have of turning back the caravans, the hordes of people,” Babin said.

Both Williams and Babin want to see construction on the border wall restarted. Biden halted construction after taking office. They also want a revision of policies like one that enables immigrants to enter the country and wait for a court hearing on their asylum claims. Former President Donald Trump was requiring asylum seekers to wait in Mexico for their hearings, but Biden quickly changed that policy.

Democrats not taking action on the border will lead to Republicans flipping the House of Representatives and the Senate, Williams believes.

This is going to be one of the things that will defeat them in 2022, is the lack of border security, and the lack of doing your job to secure the border, the sovereignty of our country,” Williams said.

 
END

iv) Swamp commentaries/

 

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

US CPI for June soared 0.9% m/m; 0.5% was expected.  This is the largest inflation in 13 years.  Year over year CPI increased 5.4%; 4.9% was expected.  Good thing inflation is transitory, and we get refunds on all past purchases when CPI recedes!  Core CPI jumped .9166% m/m, the largest hike since 1981!  0.4% was expected.  Core CPI y/y surged 4.5%; 4% was expected. https://www.bls.gov/news.release/cpi.nr0.htm

US consumer inflation is far worse than the ‘official’ CPI data indicates.  BLS has ‘Shelter’ inflation up only 2.6% y/y and Medical Care +1.0% y/y.  PS – The BLS derives a chunk of its medical care inflation calculation from Medicare premiums and payments.

The BLS: Measuring Price Change in the CPI: Medical care
The CE tracks consumer out-of-pocket spending on medical care, which is used to weight the medical care indexes. CE defines out-of-pocket medical spending as:

  • patient payments made directly to retail establishments for medical goods and services;
  • health insurance premiums paid for by the consumer, including Medicare Part B; and
  • health insurance premiums deducted from employee paychecks…

https://www.bls.gov/cpi/factsheets/medical-care.htm

NBER: Medical Care in the Consumer Price Index   Ina Kay Ford and Daniel H. Ginsburg
Because of the way the BLS calculates the health insurance index, the change year over year does not reflect premiums paid by customers, but “retained earnings” after paying out claims. These earnings are used to cover administrative costs or are kept as profit…
https://www.modernhealthcare.com/insurance/health-insurance-inflation-hits-highest-point-five-years

The CPI has not been able to develop a feasible method to directly price medical insurance In pricing premiums directly, the BLS found it impossible to account for quality differences due to changes in both the benefits provided by policies and in utilization of the provided benefits…
https://core.ac.uk/download/pdf/6919359.pdf

@Barton_options: BLS has to protest my property tax appraisal to my county appraisal office on behalf for me this year, using their world-renowned owner’s equivalent rent model.

@HouseGOP: “48% of small businesses have raised prices in May. That’s the highest, largest percentage in 40 years.” CNBC’s Rick Santelli reportshttps://t.co/PrIx0tUNTg

SF Fed Prez Daly Says Inflation Temporary, Taper May Start by Year-End – BN 12:22 ET
https://www.bloomberg.com/news/articles/2021-07-13/fed-s-daly-says-inflation-temporary-taper-may-start-by-year-end

Fed’s Daly: Don’t read too much into CPI report for June – DJ (You cannot make this up!) 12:43 ET

The daffy Daly cited ‘used auto’ prices for the surge in CPI.  Hey Mary, do you realize that ‘used vehicle’ prices are only 3.166% of CPI?  Either you’re jacking us or you don’t know what you should know!  https://www.bls.gov/news.release/cpi.t01.htm

ESUs plunged to a low of 4356.50 on the CPI disaster.  But as we warned, the usual suspects will buy all dips because they are euphorically and insouciantly bullish – plus they are loaded up with stuff for the expected monster rally for Q2 results.  So, ESUs had a ‘V’ rally and hit 4377 at the European close.

We had two other warnings: 1) Fangs would be favored; and 2) traders were long big banks stocks, loading up over the past 2-3 sessions.  Fangs turned positive minutes after the NYSE open.  This pushed Nasdaq and the Nasdaq 100 to new highs.  It also lifted the S&P 500 because techs and Fangs have a huge overweighting in the index now.

Big banks got hammered.  JPM was -4.35% at the European close; the Bank Stock index was -2%.  Goldman was -2% at the end of the first hour of NYSE trading despite boffo Q2 results.  All DJ indices and the Russell 2000 were negative at the European close.

JPM Beats Thanks to $3 Billion Reserve Release but FICC Revenue Misses

  • FICC sales & trading revenue $4.10 billion, -44% y/y, estimate $4.12 billion
  • Equities sales & trading revenue $2.69 billion, +13% y/y, estimate $2.21 billion
  • Investment banking revenue hit a record $3.57 billion, beating estimates of $2.94 billion
  • Net Income of $11.5BN which translates to $3.78/share, above the consensus estimate of $3.15

https://www.zerohedge.com/markets/jpm-beats-thanks-3-billion-reserve-release-ficc-trading-revenue-misses

Goldman Sachs rides global dealmaking boom to smash profit estimates
Earnings per common share of $15.02 beat estimates of $10.24… https://t.co/29szVscEgQ

When ugly news for stocks arrives, the usual suspects, because they are euphorically bullish and conditioned to buy stuff, scurry to Fangs and uber-tech to ensure they own something.

China’s outbound shipments increased 32.2% in June from a year earlier in dollar terms, beating economist forecasts  https://t.co/GYTQQnXn23

Mainstream Media is Wrong: Vaccine Hesitancy is Not Highest among Republican Men and Trump Isn’t to Blame – CDC reports young, healthy people are not getting the COVID shot
https://www.emilypostnews.com/p/mainstream-media-is-wrong-vaccine

COVID-19 Vaccination Coverage and Intent Among Adults Aged 18–39 Years — United States, March–May 2021 – Overall, 34% of adults aged 18–39 years reported having received a COVID-19 vaccine. Adults aged 18–24 years, as well as non-Hispanic Black adults and those with less education, no insurance, and lower household incomes, had the lowest reported vaccination coverage and intent to get vaccinated…   https://www.cdc.gov/mmwr/volumes/70/wr/mm7025e2.htm

Fed Chair Powell charged with convincing Congress this week that easy policy is still needed https://t.co/hxC5LV5sFY

Today – What House Financial Services Committee members has the integrity to grill Powell over US inflation, his negligence and indifference to inflation and the Fed policies that engender inflation and the egregious concentration of wealth and income in the US?

After the horrid CPI yesterday, today’s PPI (8:30 ET release) should impact pre-NYSE trading.  If PPI is not horrendous, there could be a relief rally into and after the NYSE open.  Traders want to be long for Powell’s expected dovish braying, plus uber-tech results are about to begin.

Expected economic data: June PPI 0.6% m/m, Core 0.5% m/m; Fed Beige Book 14:00 ET

Expected earnings: BAC .77, PNC 2.66, BLK 9.39, C 1.94, WFC .95, DAL -1.44

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 -1.50; NQUs are -3.00; USUs are +0.04 at 21:00 ET.  The dollar is up a tad. 

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 4285.97 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 4390.33 triggers a buy signal

‘Let the Forensic Audit Go’: Donald Trump Issues Urgent Message on Biden’s Plans to Halt Pennsylvania Audit – Joe Biden is going to Pennsylvania today in a rush in order to stop the Forensic Audit that the Pennsylvania Republican Senate is in the process of doing,” Trump said in a statement on Tuesday. “Philadelphia was a cesspool of corruption, which will soon be revealed by the audit. Why are they so concerned that a President, who never goes anywhere, would hop onto beautiful Air Force One and head to Philadelphia if it were an honest election?” he asked.
    “Why not let the audit go forward and make everybody, on both sides, happy?” he asked rhetorically.
https://beckernews.com/let-the-forensic-audit-go-donald-trump-issues-urgent-message-on-bidens-plans-to-halt-pennsylvania-audit-40242/?s=02

Voting group says it has found ‘massive errors and provable fraud’ in key Georgia county
“The team’s analysis revealed that 923 of 1539 mail-in ballot batch files contained votes incorrectly reported in Fulton’s official November 3rd 2020 results… “Thus, the error reporting rate in Fulton’s hand count audit is a whopping 60%,”…
https://justthenews.com/politics-policy/elections/voting-group-claims-it-has-found-massive-errors-and-provable-fraud-key

Former U.S. attorney in Pa. says Barr ordered him not to investigate potential voter fraud
Former USAT William McSwain wrote to former President Trump… Barr “instructed me not to make any public statements or put out any press releases regarding possible election irregularities… I was also given a directive to pass along serious allegations to the State Attorney General for investigation — the same State Attorney General who has already declared that you could not win.”… President Trump, you were right to be upset about the way the Democrats ran the 2020 election in Pennsylvania,” he wrote
https://justthenews.com/politics-policy/all-things-trump/letter-former-us-attorney-alleges-barr-instructed-him-not

Biden Falsely Claims Supreme Court Heard 2020 Election Challenges (twice)
https://www.breitbart.com/2020-election/2021/07/13/fact-check-biden-falsely-claims-supreme-court-heard-2020-election-challenges/

@CBSNews: Pres. Biden looks back at the 2020 presidential election, saying “no other election has even been held under such scrutiny and such high standards. The big lie is just that, a big lie.”
https://twitter.com/CBSNews/status/1415023106188513280

Biden calls GOP voting bills ‘the most significant threat to democracy since the Civil War’ https://trib.al/NhojtWB

@ABC: Pres. Biden: “In America, if you lose, you accept the results. You follow the Constitution, you try again. You don’t call facts fake…just because you’re unhappy.” https://abcn.ws/3AU4sXX

The Big Guy did not say ‘accept the results’ to Hillary, the state media or other Dems that ‘resisted’ Trump victory in 2016!  Dems and the state media are terrified of looming 2020 Election audits.

@EmeraldRobinson: The GOP collaborated with Dems to “fortify the election” in order to defeat Trump. Obviously.  It was Mark Zuckerberg AND Bill Barr. It was Pelosi AND McConnell. The political establishment of both parties worked together.  It was Stacey Abrams AND Brad Raffensperger.  It was the AFL-CIO AND the US Chamber of Commerce. It was Big Tech AND Mike Pence.
    That’s why the GOP establishment and the RNC have no interest in state audits.  They know what Democrats did – because they helped them.  How many election lawyers did the RNC send to swing states to fight voter fraud after Election Day?  (Hillary scolded Joe to not concede ‘no matter the circumstances’; various Dems said that DJT would win on Election Night but lose on mail-in votes.)
    As @SenMastriano just told @newsmax today: “I’ve heard nothing from the RNC from November to today. Zippo. Nada. I’m their point man for election integrity in Pennsylvania & so it’s odd they’ve never reached out to me.”

The Government’s Case Against a ‘White Supremacist’ – His charges, like so many against January 6 defendants, relate to trespassing, obstruction, and disorderly conduct. Hale also faces the laughable charge of “parading, demonstrating, or picketing in a Capitol building,” an offense always cheered as heroic when the rabble-rousers are Democratic activists
    Not only did the government wire an informant, but investigators interrogated nearly four dozen of Hale’s co-workers… Hale, 31, has no criminal record. There’s nothing to support the government’s claim that his “White Supremacist and Nazi Sympathizer ideology appears to be the driving force in his life.” He has served in the U.S. military for more than a decade… without incident… In April, the court denied Hale’s release. A federal judge said that if he were “just looking at what [Hale] did on January 6, he would be a free man right now.” But his “animus” toward certain groups of people made him a danger… Hale will spend more than a year in jail before his trial for nonviolent crimes related to January 6 even begins… The Biden regime is getting exactly what it wants from the manhunt for Capitol protesters who opposed Biden’s election and supported Donald Trump. People like Timothy Hale are merely collateral damage.  https://amgreatness.com/2021/07/12/the-governments-case-against-a-white-supremacist/

Due to the appearance of private videos of the January 6 protest that show most protestors peacefully, and many under the invitation or accompaniment of Capitol Police, walking into and around the Capitol, the DoJ suddenly (It has been loath to release 1/6 official videos) released two videos that show a FEW protestors fighting with police.  These criminal acts should be prosecuted accordingly and fully.
https://twitter.com/LukeLBarr/status/1413528971464134657

Justice Department releases videos of 1/6 cop-dragging attack near pro-Trump rioter who died
https://www.cnn.com/2021/07/09/politics/justice-department-video-released-january-6/index.html

The FBI Allegedly Used at Least 12 Informants in the Michigan Kidnapping Case
Defense attorneys said they will argue that the FBI “induced or persuaded” the defendants to go along with the violent scheme…  https://t.co/ss2d9C9Y4f

@johncardillo: So basically the FBI was the “militia group” that came up with the kidnap plot

@barnes_law: I’m sure an FBI that employed a dozen informants to entrap a half-dozen internet incels into a harebrained “kidnapping” plot of a Democratic Governor would never, ever infiltrate 1/6 protesters to instigate the 1/6 riot.

AP: Rioters in the Jan. 6 attack on the U.S. Capitol spoke about overthrowing the government, but U.S prosecutors have charged no one with sedition or with treason. Prosecutors may be reluctant to bring those charges because of their legal complexity. [Or lack of evidence?] https://t.co/4UFKfxtpUb

US Navy in shambles as leaders prioritize wokeness over combat readiness: report
“[W]here someone puts their time shows what their priorities are. And we’ve got so many messages about X, Y, Z appreciation month, or sexual assault prevention, or you name it. We don’t even have close to that same level of emphasis on actual warfighting.”…
    “Sometimes I think we care more about whether we have enough diversity officers than if we’ll survive a fight with the Chinese navy,” lamented one active duty lieutenant. “It’s criminal. They think my only value is as a black woman. But you cut our ship open with a missile and we’ll all bleed the same color,” she added.  One recent destroyer captain noted that “where someone puts their time shows what their priorities are. And we’ve got so many messages about X, Y, Z appreciation month, or sexual assault prevention, or you name it. We don’t even have close to that same level of emphasis on actual warfighting.”… https://thepostmillennial.com/navy-in-shambles-as-leaders-prioritize-wokeness-over-combat-training-report

@Babylonbee: ‘Vaccines Should Be Mandatory,’ says Woman Wearing my Body, my Choice T-Shirt (also) Democrat Governors Afraid Cuban Desire for Freedom Could Spread to The U.S. 

end

Let us conclude Wednesday with this offering courtesy of Greg Hunter with Cliff High

a must view

Hyperinflation Will Collapse Biden Administration – Clif High

By Greg Hunter’s USAWatchdog.com

Clif High is an Internet data mining expert who uses something he calls “Predictive Linguistics,” which sorts through billions of bits of information on the Internet to predict future trends and events.  He has many well-documented correct predictions.  High predicted a month ago, “The Biden Administration would be in full collapse by this fall.”  The CV19 Vax door knocking campaign from the Biden camp, to harass people into getting the jab, is simply a prelude to the coming collapse.  High explains, “It’s a sign of desperation, and it’s a sign of weakness. . . . What they do not realize is the people doing this work are going to be assaulted by the people they are going to be talking to verbally and sometimes physically.  It won’t go well for the workers.  It’s going to cause lots and lots and lots of videos and audio recordings to come into existence that the Biden Administration will desperately not want to have happened.  At some point, I think it will be the PR aspect that will get them to cancel it. . . . People will take the opportunity to ‘red pill’ these workers and record it. . . . It will be like my enemy is sending his troops to me.  Let me see if I can convert them to my purpose.”

How will the collapse of the Biden Administration take place?  High says, “This is an economic issue. . . . We exist on the petro-dollar empire, and that empire is dying very rapidly.  We are in the very final phases of that death.  In that final phase, we reach hyperinflation.  We are at the point that hyperinflation has broken loose.  It’s reported at 5.4%, but it’s really hyper.  It really is three times that or four times that.  Energy, since Biden took over, is up 40%. . . . We are now reaching a point of the inflation to run parallel with the debt that is going to reach an extreme.  This extreme, by my calculations, should impact the Biden Administration in some form of a catastrophic crisis around the last half of September. . . . Fundamentally, it will be the inability to pay for things . . . . It will be a situation where the hyperinflation has so outpaced normal expectation . . . that all of the government contracts in the computers, which have limits and constraints, will have blown beyond those limits and constraints.  The government will not be able to write checks because the computers will refuse to print them.  This is a crude way of explaining it. . . .  There are thousands of constraints built into software configured at a time when there was a more rational view of inflation.”

High goes on to say, “We are at that point where empire is collapsing.  The empire is collapsing because the money is no good.”

High also talks about the breakdown of society because so many high-skilled people will die from the jabs.  High says the “lockdown plan that would have killed many has failed,” because of President Trump.

High also contends, “The power elite are committed . . . .They can’t back down now, and they must continue with the idea of trying to kill as many of us as possible, especially now that we have had this great awakening and they have broken the veil of secrecy so to speak.  This is why the door to door thing. . . . Inoculation is not a good thing, and the elite are trying to inoculate 95% of humanity out of existence.  Going back to my data to 2003 and onward, there has always been this area of data that said 1.24 billion people would be dying prematurely.  We are at the point right now that a little more than 2 billion people have been inoculated, injected with these mixtures, and if we take the numbers out of various institutes out of London . . . they estimate between 60% and 70% this coming winter will fall ill, and the vast majority of those people will die. . . . This is very close to what my data has predicted since 2003–1.24 billion people dying.  So, imagine what that is going to do to our social order. . . . At that level, our society will be hovering around breakdown.  We won’t have truck drivers, doctors, dentists, and a lot of the healthcare workers inoculated themselves.  We won’t have airline pilots, and we may not have pilots for large ships to get them in and out of port.  That’s a highly skilled job, and it takes years to train someone.”

High also has data on the massive amounts of bodies that will need to be buried or cremated because of the deaths from the CV19 jabs.  It is gruesome.

High also talks about bitcoin, gold, silver, the stock market and how a new financial system will emerge.  Spoiler alert:  gold, silver and Bitcoin are not going lower in price, according to Clif High—just the opposite.  High also talks about data on election fraud, the CCP attack on Nov 3, 2020, and how it will all be coming out into the open.  Will Donald Trump get back into office?  High has data on that too and will explain it.  High says the elite will become prisoners of “We the People.”  The great awakening of “We the People” will leave the elite no place to hide and no place to run.

Join Greg Hunter as he goes One-on-One with Internet data mining expert Clif High.

(Program Note:  What is written here is a fraction of what is in this 70 min. interview.  I will not be doing a Weekly News Wrap-Up on Friday 7/16/21.  I did this a month ago when Clif High was on, and this interview is better than that one.  Please take time to carefully listen as High lays out what to expect from August to the end of the year.)

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Greg Hunter via yahoo.com 

1:31 AM (6 hours ago)

 

 
to Harvey
 
 
 
 

Clif High says he no longer sells his Internet data mining reports, but he does commentary about his data mining research and gives free analysis on his Bitchute channel.

See you Thursday night!

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