JULY23//GOLD DOWN $3.20 TO $1801.90//SILVER DOWN 11 CENTS TO $25.20//GOLD STANDING AT THE COMEX: 7.200 TONNES//SILVER STANDING REMAINS CONSTANT AT 33.575 MILLION OZ//CORONAVIRUS UPDATES//DR. MARTIN’S INTERVIEW: A MUST VIEW!!// CHINA’S FLOODING CONTINUES: AN UPDATE FROM HENAN PROVINCE//VACCINE PASSPORTS RIOTS COMMENCE IN ITALY!//WATER SHORTAGES IN IRAN CONTINUE AS PROTESTS ESCALATE//ONE POLICE OFFICER KILLED//ISRAELI GOVERNMENT NOW FINDS THE PFIZER VACCINE ONLY 39% EFFECTIVE AGAINST THE DELTA VARIANT……THEN WHY GIVE IT!!

 

GOLD:$1801.90 DOWN $3.20  The quote is London spot price

Silver:$25.20  DOWN  11 CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1802.60 LONDON SPOT  4:30 pm

ii)SILVER:  $25.18//LONDON SPOT  4:30 pm

 

Mark your calendar!  Saturday July 24th is
World Ivermectin Day!
 

On July 24, 2021, people of the world will come together to celebrate ivermectin for a day focused on unity, love, and gratitude for this precious gift from Mother Earth.  Ivermectin is the key and has already brought immeasurable benefit to humanity.  It’s time to celebrate and let the world know that it’s going to be ok!

Click Here to find out more!

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

 

 

PLATINUM  $1065.35  DOWN $29.43

PALLADIUM: $2677.36  DOWN $51.64  PER OZ.

 

END

Editorial of The New York Sun | February 1, 2021

end

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COMEX DETAILS//NOTICES FILED

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

receiving today 25/34

EXCHANGE: COMEX
CONTRACT: JULY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,805.000000000 USD
INTENT DATE: 07/22/2021 DELIVERY DATE: 07/26/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 1
435 H SCOTIA CAPITAL 1
624 H BOFA SECURITIES 1
657 C MORGAN STANLEY 1
661 C JP MORGAN 34 25
737 C ADVANTAGE 3
905 C ADM 2
____________________________________________________________________________________________

TOTAL: 34 34
MONTH TO DATE: 2,313

ISSUED:  34

Goldman Sachs:  stopped: 1

 
 

NUMBER OF NOTICES FILED TODAY FOR  JULY. CONTRACT: 34 NOTICE(S) FOR 3400 OZ  (0.1057 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  2213 FOR 231300 OZ  (7,1944 TONNES)

 

SILVER//JULY CONTRACT

67 NOTICE(S) FILED TODAY FOR 335,000  OZ/

total number of notices filed so far this month 6628  :  for 33,140,000  oz

 

BITCOIN MORNING QUOTE  $31,637 UP 296  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$32,285 UP 994  DOLLARS 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN  $3.20 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: / A PAPER WITHDRAWAL OF 1.17 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  1027.38 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 11 CENTS

 A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A PAPER WITHDRAWAL OF 1.483 MILLION OZ FORM 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: 

 

555.428  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 168.53 DOWN $0.56 OR 0.33%

XXXXXXXXXXXXX

SLV closing price NYSE 23.35 DOWN $0.21 OR 0.89%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Let us have a look at the data for today

THE COMEX OI IN SILVER FELL BY A SMALL SIZED 490 CONTRACTS  TO 149,191, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR $0.10 GAIN IN SILVER PRICING AT THE COMEX  ON THURSDAY . IT SEEMS THAT THE LOSS IN COMEX OI IS PRIMARILY DUE TO MASSIVE BANKER AND ALGO  SHORT COVERING AS OUR BANKER FRIENDS ARE GETTING QUITE SCARED OF BASEL III INITIATED JUNE 28/2021 !// WE HAD SOME REDDIT RAPTOR BUYING//.. COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL ISSUANCE. WE HAVE ZERO LONG LIQUIDATION AS TOTAL GAIN ON THE TWO EXCHANGES EQUATES TO A SMALL 455 CONTRACTS. (2.275 MILLION OZ)//(WITH OUR  GAIN OF 10 CENTS) 

 

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

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN SILVER TODAY: +5 CONTRACTS

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 950,, AS WE HAD THE FOLLOWING ISSUANCE:,  JULY 0 AND SEPT 950 ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 950 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

33.575  MILLION OZ INITIAL STANDING FOR JULY

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

UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT ROSE BY $0.10)  AND WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS WITH THURSDAY’S TRADING.  WE HAD A SMALL GAIN OF 460 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 STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 38.535 MILLION OZ BUT THEN TODAY A ZERO OZ QUEUE JUMP:  NEW STANDING 33.575 MILLION OZ// / v)  VERY SMALL COMEX OI LOSS 
.
YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..
 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

 

JULY

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

18,979 CONTRACTS (FOR 15 TRADING DAY(S) TOTAL 18,979 CONTRACTS) OR 94.895MILLION OZ: (AVERAGE PER DAY: 1265 CONTRACTS OR 6.326 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY: 94.895  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:  94.895 MILLION OZ )  SLIGHTLY BELOW PAR WITH JUNE)

RESULT: WE HAD A SMALL DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 490 , DESPITE OUR $0.10 GAIN  IN SILVER PRICING AT THE COMEX ///THURSDAY .…THE CME NOTIFIED US THAT WE HAD A VERY SMALL SIZED EFP ISSUANCE OF 950 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A SMALL SIZED GAIN OF 460 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR $0.10 GAIN IN PRICE)//THE DOMINANT FEATURE TODAY: HUGE BANKER SHORTCOVERING/  AND AFTER A  STRONG INITIAL SILVER OZ STANDING FOR JULY. (38.535 MILLION OZ), WE HAD A ZERO OZ QUEUE JUMP /NEW STANDING 33.575 MILLION OZ/

 

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  950  OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A SMALL SIZED DECREASE OF 490 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.10 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $25.31/ THURSDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

WE HAD  67  NOTICES FILED TODAY FOR 335,000 OZ

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

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

 
 
 
 

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 15,055 CONTRACTS TO 517,815 ,,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: -1308 CONTRACTS.

THE STRONG SIZED INCREASE IN COMEX OI CAME DESPITE OUR SMALL GAIN IN PRICE OF $2.00///COMEX GOLD TRADING/THURSDAY.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 GIGANTIC SIZED GAIN ON OUR TWO EXCHANGES OF 16,133 CONTRACTS.  WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JULY AT 3.144 TONNES WHICH WAS FOLLOWED BY A  100 OZ QUEUE JUMP//COMEX STANDING NOW AT 7.200 TONNES. OUR CROOKED BANKERS ARE BADLY IN NEED OF METAL ON THIS SIDE OF THE ATLANTIC.
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $2.00 WITH RESPECT TO THURSDAY’S TRADING

 

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

WE HAD A GIGANTIC SIZED GAIN OF 16,133  OI CONTRACTS (50.18 TONNES) ON OUR TWO EXCHANGES…

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 2386 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 2386 & DEC 0  ALL OTHER MONTHS ZERO//TOTAL: 2386 The NEW COMEX OI for the gold complex rests at 516,507. 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 GIGANTIC SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 16,133  CONTRACTS: 13,747 CONTRACTS INCREASED AT THE COMEX AND 2386 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 16,133 CONTRACTS OR 50.180 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2386) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (13,747 OI): TOTAL GAIN IN THE TWO EXCHANGES: 16,133 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 100 OZ QUEUE  JUMP,//NEW STANDING 7.200 TONNES// //3) ZERO LONG LIQUIDATION, /// ;4)  VERY STRONG SIZED COMEX OI GAIN AND 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL

 

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

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

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

 
 

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

.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

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

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

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

 
 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

JULY

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JULY : 40,096, CONTRACTS OR 4,009,600 oz OR 124.71 TONNES (15 TRADING DAY(S) AND THUS AVERAGING: 2673 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 15 TRADING DAY(S) IN  TONNES: 124.71 TONNES

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

THUS EFP TRANSFERS REPRESENTS  124.71/3550 x 100% TONNES  3.51% 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:        124.71 TONNES INITIAL (FALLING  IN RATE FROM JUNE)

 

 

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest at the comex, in SILVER, FELL BY SMALL SIZED 490 CONTRACTS TO 149,191 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 950 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: 950 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  950 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 490 CONTRACTS AND ADD TO THE 950 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A SMALL SIZED GAIN OF 460 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES 

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 2.30 MILLION  OZ, OCCURRED WITH OUR  $0.10 GAIN IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 

3. ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 24.57  PTS OR 0.68%   //Hang Sang CLOSED DOWN 401.86 PTS OR 1.45%      /The Nikkei closed   //Australia’s all ordinaires CLOSED UP 0.16%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4778  /Oil UP TO 71.77 dollars per barrel for WTI and 73.65 for Brent. Stocks in Europe OPENED ALL GREEN  /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4778. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4812/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 
 
 
 
 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG  SIZED 13,747 CONTRACTS TO 516,507 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 $2.00 IN GOLD PRICING THURSDAY’S  COMEX TRADING/.WE ALSO HAD A SMALL EFP ISSUANCE (2386 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 2386 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  2386  & DEC.  0  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2386  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 HUGE SIZED 16,133 TOTAL CONTRACTS IN THAT 2386 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A STRONG SIZED COMEX OI OF 13,747 CONTRACTS.WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR JULY   (7.200),

 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 $2.00)., BUT THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A VERY STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 16133 CONTRACTS. THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 50.18 TONNES,ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JULY (7.200 TONNES)..I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE HUGE 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 -1308  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 16,133 CONTRACTS OR 1,613,300 OZ OR  50.18  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:  516,507 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 51.65 MILLION OZ/32,150 OZ PER TONNE =  1606 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1606/2200 OR 73.202% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:294,782 contracts//    / volume poor//

CONFIRMED COMEX VOL. FOR YESTERDAY: 255,311 contracts// – fair//  

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

 

JULY 23

/2021

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

 

Deposits to the Customer Inventory, in oz
 
 
 
NIL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
34  notice(s)
 
3400 OZ
0.1057 TONNES
No of oz to be served (notices)
2 contracts
200oz
 
0.00622 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
2313 notices
231,300 OZ
7.1944 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
 
 
total deposit: NIL   oz 
 

total dealer withdrawals: nil oz

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

We had 0  kilobar transactions 0 out of  0 transactions)

ADJUSTMENTS  1//

i) out of Manfra:  3279.402 oz was adjusted out of the customer and into the dealer and

this was 102 kilobars.

 

The front month of JULY registered a total of 36 contracts for a LOSS of 130.  We had 131 notices filed on Thursday so we GAINED 1 contract or an additional 00 oz will stand for gold at the comex as they refused to morphed into London based forwards.  Somebody was in urgent need of physical on this side of the pond. 

 

 
 
 
 
 
AUGUST LOST 9212  CONTRACTS DOWN TO 187,483 AS WE COUNT DOWN TO THE NEXT BIG GOLD DELIVERY MONTH!! WE HAVE 5 MORE READING DAYS BEFORE FIRST DAY NOTICE.
 
SEPT gained 76 CONTRACTS TO STAND AT 1313
 
OCTOBER GAINED 66 CONTRACTS UP TO 30,935.

We had 131 notice(s) filed today for 13,100  oz

FOR THE JULY 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 34 notices were issued from their client or customer account. The total of all issuance by all participants equates to 25  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 1  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 (2313) x 100 oz , to which we add the difference between the open interest for the front month of  (JULY: 36 CONTRACTS ) minus the number of notices served upon today  34 x 100 oz per contract equals 231,500 OZ OR 7.200TONNES) 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 (2313) x 100 oz+( 36  OI for the front month minus the number of notices served upon today (34} x 100 oz} which equals 231,500 oz standing OR 7.200 TONNES in this NON- active delivery month of JULY.

We  GAINED an additional 100 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 505.17 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 7.200 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  18,582,751.037 oz or 578.00 tonnes
 
 
 
total weight of pledged: 2,248,216.862 oz or 69.92 tonnes
 
 
registered gold that can be used to settle upon: 16,334,535.0 (508,07 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes16,334,535.0 (508.07 tonnes)   
 
 
total eligible gold: 16,877,593.538 oz   (524.96 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  35,460,344.575 oz or 1,102.96 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  976.62 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 23/2021

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
31,322.063 oz
 
 
Brinks
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
279,472.600 OZ
Manfra
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
913,241.570 OZ
CNT
Manfra
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
57
 
CONTRACT(S)
335,000  OZ)
 
No of oz to be served (notices)
87 contracts
 (435,000 oz)
Total monthly oz silver served (contracts)  6628 contracts

 

33,140,000 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 1 deposit into the dealer
i) Into the dealer Manfra:  279,472.600 oz

total dealer deposits:  279,472.600        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  2 deposits into customer account (ELIGIBLE ACCOUNT)

 
 
i) Into Manfra:  317,269.821, oz
ii) Into CNT  595,971.249 oz
 
 
 
 
 

JPMorgan now has 187.5 million oz  silver inventory or 53.43% of all official comex silver. (187.4 million/352.557 million

total customer deposits today 913,241.570   oz

we had 2 withdrawals

i) Out of Brinks:  4882.014 oz

ii) out of CNT: 26,440.049 oz

 

 

 
 
 

total withdrawals  31,322.063       oz

 
 

adjustments//0

 

 
 

Total dealer(registered) silver: 114.701 million oz

total registered and eligible silver:  352.557 million oz

a net 1.18 million oz enters  the comex silver vaults.

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

July LOST  30 contracts DOWN to 154 contracts. We had 30 notices filed on Thursday so we gained 0 contracts or an additional  NIL oz will  stand for silver at the comex in this very active delivery month of July as they refused to morph into London based forwards

 

AUGUST LOST 127 CONTRACTS TO STAND AT 2021

SEPTEMBER LOST 1150 CONTRACTS DOWN TO  112,298

 
NO. OF NOTICES FILED:  67  FOR 335,000 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  6628 x 5,000 oz = 33,140,000 oz to which we add the difference between the open interest for the front month of JULY (154) and the number of notices served upon today 67 x (5000 oz) equals the number of ounces standing.

Thus the JULY standings for silver for the JULY/2021 contract month: 6628 (notices served so far) x 5000 oz + OI for front month of JULY( XXX)  – number of notices served upon today (67) x 5000 oz of silver standing for the JULY contract month .equals 33,575,000 oz. ..VERY POOR FOR JULY. 

We gained 0 contracts or NIL oz will stand for delivery at the comex as they search out for metal on the this side of the Atlantic.  

 

TODAY’S ESTIMATED SILVER VOLUME  37,684 CONTRACTS // volume  poor//awful//getting out of Dodge//(

 

FOR YESTERDAY  51,572  ,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 -1.57% (JULY  23/2021)

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 FALLS TO -1.18% nav   (JULY 23)

 

/2021 )

 

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

NAV $19.38 TRADING 19.14//NEGATIVE  1.25

 

END

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

JULY 23/WITH GOLD DOWN $3.20 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.17 TONNES FROM THE GLD///INVENTORY RESTS AT 1028.55 TONNES

JULY 22/WITH GOLD UP $2.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1027.38 TONNES

JULY 21/WITH GOLD DOWN $7.85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1028.55 TONES/

JULY 20/WITH GOLD UP $2.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GDL//INVENTORY RESTS AT 1028.55 TONNES

JULY 19/WITH GOLD DOWN $5.65 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.82 TONNES FROM THE GLD///INVENTORY RESTS AT 1028.55 TONNES.

JULY 16/WITH GOLD DOWN $13.50 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1034.37 TONNES

July 15/WITH GOLD UP $3.20 TODAY: VERY STRANGE: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 2.91 TONNES FROM THE GLD//INVENTORY RESTS AT 1034.37 TONNES.

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 23 / GLD INVENTORY 1027.35 tonnes

 

LAST;  1099 TRADING DAYS:   +102.97 TONNES HAVE BEEN ADDED THE GLD

 

LAST 949 TRADING DAYS// +  277.59. 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 23/WITH SILVER DOWN 11 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.428 MILLION OZ.

JULY 22/WITH SILVER UP 10 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 1.483 MILLION OZ FROM THE SLV/////INVENTORY RESTS AT 555.428 MILLION OZ..

JULY 21/WITH SILVER UP 25 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 556.911 MILLION OZ//

JULY 20/WITH SILVER  DOWN 13 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A MONSTER WITHDRAWAL OF 4.171 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 556.911 MILLION OZ.

JULY 19/WITH SILVER DOWN 64 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; A DEPOSIT OF 7.23 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 561.082 MILLION OZ/

JULY 16.WITH SILVER  DOWN 57 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.298 MILLION OZ FROM THE SLV//INVENTORY REST AT 553.852 MILLION OZ//

JULY 15/WITH SILVER UP 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.150 MILLION OZ/

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 23/2021      556.911 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Peter Schiff:

Brace Yourself For Another “Debt Ceiling” Fight

 
FRIDAY, JUL 23, 2021 – 10:03 AM

Authored by Michael Maharrey via SchiffGold.com,

Here we go again.

The clock is ticking down to another US debt ceiling battle.

The Congressional Budget Office projects Uncle Sam will run out of money this fall, likely in October or November. “If that occurred, the government would be unable to pay its obligations fully, and it would delay making payments for its activities, default on its debt obligations, or both,” the CBO said in a statement.

In 2019, Congress suspended the debt limit for two years. That suspension ends on July 31.

Congress imposed the first debt ceiling in 1917. The Second Liberty Bond Act capped debt at $11.5 billion. This was supposed to put some kind of restraint on government borrowing. Of course, it didn’t. Every time the debt approaches the ceiling, Congress simply raises it. Between 1962 and 2011, lawmakers jacked up the debt “limit” 74 times, according to the Congressional Research Service.

In 2013, Congress came up with a new trick. Instead of raising the debt ceiling, it just suspended it. Congress set the last actual debt limit in 2014 with a built-in “auto-adjust.” The auto-adjust ended in March 2015 with the debt ceiling set at $18.1 trillion. Since then, Congress has suspended the debt ceiling three times.

As of July 20, the national debt stood at $28.49 trillion.

When the current debt ceiling suspension ends on July 31, the US government will no longer be able to borrow money. According to the CBO, it will be able to limp along until this fall using “extraordinary measures.” According to Reuters, these range from halting the issuance of special securities to state and local governments to suspending the daily reinvestment of Treasury securities held by a government employee retirement fund and the Treasury’s Exchange Stabilization Fund.

It’s not completely clear how long the government can get by with accounting gimmicks. The CBO said it will depend on actual revenue collection and government spending, which can differ significantly from projections.

Given that the debt ceiling has never meaningfully restrained borrowing and spending, why doesn’t Congress just scrap it altogether?

I think there are two reasons.

First, doing away with the debt ceiling would expose America’s fiscal irresponsibility to the world. We all know the federal government has a spending problem. But the debt ceiling creates the illusion of responsibility. It’s like a magic trick. We all know it’s not really magic. It’s an illusion created by the magician. But we like to believe it’s magic. It makes us feel good. The debt ceiling is an illusion that allows Americans to feel like their “representatives” are acting responsibly.

Second, the debt ceiling is ready-made for political theater. And there’s nothing politicians love more than political theater.

Senate Minority Leader Mitch McConnell has already indicated that the Republicans aren’t going to vote for a debt ceiling increase because of the Democrats’ wild spending spree that he called a “free-for-all for taxes and spending.”

“I can’t imagine there will be a single Republican voting to raise the debt ceiling after what we’ve been experiencing,” McConnell said.

It’s also a nice tool Republicans can use to get what they want out of the infrastructure deal Congress is currently haggling over.

Of course, this is all rank hypocrisy. The Republicans borrowed and spent like drunken sailors during the Trump years and they approved the last debt ceiling suspension. Even today, Republicans aren’t opposing the infrastructure bill. They just want it to be their kind of infrastructure bill.

Senate Majority Leader Chuck Schumer called McConnell’s remarks “shameless, cynical and totally political.” Because we all know the Democrats are just trying to do what’s best for America. No political motivation there at all!

Failure to raise the debt limit would have “catastrophic economic consequences,” as Treasury Secretary Janet Yellen put it.

It would be utterly unprecedented in American history for the United States government to default on its legal obligations.”

Yellen’s not wrong. And this is exactly why Congress will raise the debt ceiling – or simply kick the can down the road by suspending it again.

In the meantime, brace yourself for hot political rhetoric and a lot of finger-pointing across the political aisle. We may even get another mythical government shutdown. But trust me, they won’t shut down any of the important things. The NSA will keep spying on you. The IRS will continue to collect taxes from you. The wars will rage on. And members of Congress will continue to collect their paychecks. There’s always money available for the things the government really wants to do.

The whole debt ceiling debate is nothing but political gamesmanship. So, grab a chair. Pop some popcorn. And enjoy the show.

END

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

 

END

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

I brought this to your attention yesterday and it is worth repeating.  Please view this important interview of my favourite economist: David Stockman

(Greg Hunter/USAWatchdog/David Stockman)

“Hold Gold As Insurance” – Stockman Warns ‘Reset’ Means “A Crash Of Epic Proportions”

 
FRIDAY, JUL 23, 2021 – 06:30 AM

Via Greg Hunter’s USAWatchdog.com,

Reagan White House Budget Director and best-selling author David Stockman says, “This is not the time to be invested in the markets…”

A reset is just a pleasant name or a clinical name for a crash of epic proportions, which we will have because the markets are so inflated.  There are trillions of dollars that are at risk.  To put a dimension on this thing or a way of sizing this, is we have a $60 trillion bubble on the balance sheets of 130 million people in American society, but especially in the top 5% to 10% that own a huge share of the assets…

I have no thought about how big the correction will be, but if it were just back to the norm… it would be a $60 trillion correction, and that is a pretty big hole in the bucket.

 If $60 trillion disappears (out of the U.S. economy), it changes everything.  It turns the financial system and economic reality upside down.

How did things get so perilous in the economy? 

Stockman says look no further than Washington D.C. and the Fed.  Stockman explains,

When central banks start to inflate like crazy, you first inflate financial assets.  It eventually works its way into goods and services, and that’s where we are now. 

You get the second stage of inflation as well.  There has never been a small group of government officials, unelected at that, who have done more damage, more wanton harm to the economy and to the lives of ordinary people than (Fed Head) Powell and his merry band of mad money printers.  This is really an outrage. 

I say these people are damn near criminally incompetent given what they say about the world, which is totally wrong, given what they’re doing, this massive money printing, which is totally unjustified. . .”

Stockman thinks there will be a “50% to 75% correction in the financial markets.”  Stockman contends,

“The only asset that has held its value over time is gold.”  Stockman recommends everybody should be holding some gold as insurance against the coming “reset.”

In closing, Stockman warns, “Preserve your assets...”

“This is the last moment in time to be greedy or aggressive or to be overly optimistic about the future.  The future is being driven by the policy makers …

The whole system is being run by Washington.  The Federal Reserve totally dominates the financial markets… The Fed has printed $6.5 billion a day for the past 688 days…

They have printed more money in the last 688 days than the Fed did in the first century of its existence.”

Join Greg Hunter as he goes One-on-One with best-selling author and financial expert David Stockman 7.21.21.  (There is much more in the 45 minute interview.)

 

To Donate to USAWatchdog.com Click Here

You can get a daily dose of Mr. Stockman on DavidStockmansContraCorner.com, but you will need to click here to subscribe.

end

OTHER PHYSICAL//COMMODITY STORIES
 
 

END

 

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

i) Chinese yuan vs usa dollar/CLOSED DOWN AT 6.4778 

 

//OFFSHORE YUAN 6.6812  /shanghai bourse CLOSED DOWN 24.54 PTS OR 0.68% 

HANG SANG CLOSED DOWN 401.86 PTS OR 1.45 %

2. Nikkei closed 

 

3. Europe stocks  ALL GREEN 

 

USA dollar INDEX UP TO  92.98/Euro FALLS TO 1.1761

3b Japan 10 YR bond yield: FALLS TO. +.016/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110.54/ 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:: 71.77 and Brent: 73.65

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.40%/Italian 10 Yr bond yield DOWN to 0.65% /SPAIN 10 YR BOND YIELD UP TO 0.29%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.05: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.65

3k Gold at $1795.50 silver at: 25.17   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 4/100 in roubles/dollar) 73.64

3m oil into the 71 dollar handle for WTI and 73 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 110.54 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 .9217 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0840 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.40%

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 1.297% early this morning. Thirty year rate at 1.937%

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

6.  TURKISH LIRA:  UP  TO 8.55..  VERY DEADLY

Futures Back At All Time High, Nasdaq 100 Futs Above 15,000 For The First Time Ever

 
FRIDAY, JUL 23, 2021 – 07:57 AM

The V-shaped recovery has officially concluded, with eminis hitting 4,383 this morning, touching reaching their all time high from the second week of July (technically that was 4,384) as markets propel higher on earnings optimism despite mixed economic data and worries over Covid variant. At 7:30 a.m. ET, Dow e-minis were up 170 points, or 0.49% and S&P 500 e-minis were up 21.5 points, or 0.49%.

Nasdaq 100 e-minis were up 72 points, or 0.48%, trading above 15,000 points for the first time. Nasdaq futures hit a record high on Friday, helped by megacap technology stocks and strong earnings from social media companies Twitter and Snap, with investors eyeing business activity data later in the day.

Twitter gained 6.3% in premarket trading after it reported upbeat revenue growth, as the social media platform rolled out ad-targeting improvements to help brands reach potential customers. Snap Inc. (SNAP) climbs 17% in premarket trading with the social-media firm’s 2Q results and guidance well ahead of analyst expectations, affirming its position as a top pick in digital advertising, and notching the highest growth rates since late-2017.  Strong results from the social media firms set a positive precedent for Facebook Inc, which rose 2.8% ahead of its second-quarter results next week. Other major tech names, including Amazon.com, Apple Inc, Microsoft Corp, and Google-owner Alphabet Inc, were up between 0.4% and 1.4%.

On the other end, Intel fell 1.9% after the chipmaker said it still faces supply chain constraints and gave an annual sales forecast that implied a weak end of the year. Industrial conglomerate Honeywell rose 0.8% after posting a 32% rise in quarterly profit, helped by improving demand for aircraft parts. Schlumberger rose 1.5% after it reported a rise in its second-quarter profit. Other premarket movers:

  • NRx Pharmaceuticals (NRXP) jumps 33%, pointing to a second day of double-digit gains, on plans to make a commercial formulation of a still experimental Covid-19 therapy, Zyesami (aviptadil), in million dose quantities.
  • Shares in U.S-listed Chinese education stocks slump in premarket trading following a report that China is said to consider turning tutoring firms into nonprofits. New Oriental Education (EDU) sinks 42% and TAL Education (TAL) plummets 50%, while Gaotu Techedu (GOTU) plunges 55%.
  • Twitter (TWTR) shares rise 5.5% with its 2Q results topping expectations. KeyBanc says its execution remains strong and Truist flags a “robust” product pipeline on the horizon for the social-media company.

“One of the most under-appreciated things about the equity markets right now is just how much these earnings have risen, and how much analysts have had to revise their earnings estimates up,” Tracie McMillion, head of global asset allocation strategy at Wells Fargo Investment Institute, said on Bloomberg Television. She added she’s tracking the delta variant in case it affects consumer behavior.

In Europe, the Stoxx 600 index headed for a fourth day of gains, with all industry sectors in the green. Telecommunications were among the biggest gainers after an upbeat report from Vodafone Plc, while car-parts maker Valeo’s earnings beat boosted the automobile sector. Yields on core European bonds rose after the European Central Bank’s dovish tilt. Here are some of the biggest European movers today:

  • Valeo shares gain as much as 8.8% after 1H results, which Morgan Stanley says were “solid” with Ebit well ahead of consensus. The company also confirmed its full-year guidance.
  • Skanska rises as much as 7.6%, most since Nov. 9, after the Swedish construction company’s 2Q operating profit beat estimates.
  • Dassault Aviation gains as much as 8% in Paris after the company reported 1H results, with adj. net sales that beat estimates. Berenberg noted a strong rebound in business-jet orders.
  • Vodafone rises as much as 4.4%, the sharpest gain in more than five months, after the telecom operator posted a sales beat, with analysts saying the update could boost sentiment.
  • Ultra Electronics soars as much as 34%, the most ever, and hits a record high after the U.K. defense firm said it was “minded to recommend” a new GBP2.58b takeover offer from Cobham.
  • Signify drops as much as 9%, the most since March 2020, after 2Q results which both Morgan Stanley and Citi say were a miss on adjusted Ebita.
  • Scatec falls as much as 19% after 2Q results missed estimates.

Earlier in the session,  Asian share markets were in a mixed mood on Friday after a volatile week in which sentiment over global growth waxed and waned with every new headline on the Delta variant.Hong Kong stocks slid as potential penalties for ride-hailing giant Didi Global Inc. sapped sentiment toward Chinese tech firms.

“In the face of headwinds from the Delta variant of the COVID-19 virus, the global economic expansion is moving forward—albeit more tentatively than a month ago,” said Sara Johnson, executive director of global economics at IHS Markit. “Outlooks in advanced countries with high vaccination rates remain bright, but near-term prospects in emerging and developing countries with low vaccination rates are murkier.”

That diverging outlook was reflected in MSCI’s broadest index of Asia-Pacific shares outside Japan which slipped 0.4%, leaving it down 1.1% on the week so far, led by Vietnam and Hong Kong, amid growing concerns about the economic impact from the spread of the delta variant. The MSCI Asia Pacific Index fell 0.6%, dragged by a broad-based selloff of defensive and cyclical sectors, including consumer staples and consumer-discretionary names. Chinese education stocks plunged, dragging the Hang Seng Tech Index lower by 3%, as the country considers asking companies that offer tutoring on the school curriculum to become non-profit. Stocks in Vietnam and the Philippines were also among the top decliners as Southeast Asian nations struggle to control Covid-19 outbreaks. The rapid spread of the delta variant continues to hurt regional shares, with the MSCI Asia Pacific Index down more than 8% from a February peak. The gauge is set for a third week of losses in four.

“Cyclical heavy-weighted stock indices like Singapore and Thailand” are more likely to underperform against their regional peers, said Kelvin Wong, an analyst at CMC Markets (Singapore). “Slow vaccination roll-outs in some Asian countries and the delta variant are likely to reinforce the ‘Peak Growth’ narrative theme play, which could be detrimental to cyclical stocks.” Shares in India edged higher in a volatile session, even as most quarterly earnings announced so far in the country have missed analysts’ estimates. Japan’s stock market is closed as the Summer Olympics officially begins in Tokyo, but was off 1.7% for the week and a whisker away from a seven-month trough.. It will be the first time in history that the games are held without spectators due to Covid-19 restrictions.

Investors are now looking ahead to the Federal Reserve’s policy meeting next week where more discussion about tapering is expected, though Chair Jerome Powell has repeatedly said the labor market remains well short of target. He also still argues that the recent spike in inflation will prove fleeting, which may be one reason bond markets have been rallying so hard. 

Meanwhile, the Summer Olympics officially begin in Tokyo, though for the first time in history events will be held without spectators due to Covid-19 restrictions. In the U.S., a recent rise in infections shows no signs of abating as the delta variant spreads through unvaccinated sections of the population.

In rates, the 10Y Treasury yield traded around 1.29%, 0.8bp higher on the day having hit a five-month low of 1.128% early in the week. Treasuries were narrowly mixed in early U.S. session, with long-end yields cheaper by ~1bp, steepening the curve amid subdued futures activity especially during Asia session with cash trading remaining closed for holiday and scant price action. 10-year yields are little changed on the week despite having touched lowest level since February on Tuesday as virus developments called into question economic growth assumptions. Losses were bigger for bunds and gilts as European stocks advance amid solid PMI data and haven demand is unwound. German 10-year bonds performed even better, with yields dropping seven basis points so far this week to -0.42%, the lowest since mid-February. The rally was helped by a dovish tilt from the European Central Bank overnight when it pledged not to raise rates until inflation was sustainably at its 2% target.

“Currently the ECB is forecasting inflation at 1.4% in 2023, and it anticipates a very gradual recovery towards target thereafter,” noted analysts at ANZ. “The guidance implies the ECB will not get caught up in future global tightening cycles unless it is justified by euro area dynamics. The policy puts the ECB at the dovish end of the global central bank hawkometer.”

That outlook has contributed to a steady decline in the euro to $1.1773 , near the four-month trough of $1.1750 touched earlier in the week. This helped lift the dollar index to its highest since early March, and it was last at 92.818 . The Bloomberg Dollar Spot Index is up 0.3% on the week. The euro has also been struggling against the safe-haven Japanese yen and hit its lowest in four months this week before steadying at 129.68 yen . With all the action in the euro, the dollar has been relatively steadier on the yen at 110.24 . The New Zealand dollar and Swedish krona led G-10 currency gains, while moves were mostly muted with Japan shut for a holiday

In commodity markets, gold dipped to $1,802 an ounce and was 0.4% easier on the week. Base metals have fared much better as strong demand meets restricted supply. Oil prices have also been buoyed by speculation demand will outpace supply in coming months even after OPEC+ agreed to expand production. Brent was last off 27 cents at $73.52 a barrel, after jumping overnight, while U.S. crude lost 25 cents to $71.66 per barrel.

Looking at the day ahead, the main highlight will likely be the release of the flash PMIs for July from around the world, whilst other data includes the UK’s retail sales for June. Otherwise, earnings releases include Honeywell, NextEra Energy and American Express, and today also marks the start of the Olympic Games in Tokyo.

Market Snapshot

  • S&P 500 futures up 0.4% to 4,376.75
  • STOXX Europe 600 up 0.5% to 459.01
  • MXAP down 0.6% to 201.70
  • MXAPJ down 0.7% to 675.50
  • Nikkei up 0.6% to 27,548.00
  • Topix up 0.8% to 1,904.41
  • Hang Seng Index down 1.4% to 27,321.98
  • Shanghai Composite down 0.7% to 3,550.40
  • Sensex up 0.5% to 53,095.99
  • Australia S&P/ASX 200 up 0.1% to 7,394.35
  • Kospi up 0.1% to 3,254.42
  • Brent futures down 0.3% to $73.56/bbl
  • Gold spot down 0.1% to $1,805.41
  • U.S. dollar index little changed at 92.86
  • German 10Y yield rose 1.8 bps to -0.407%
  • Euro little changed at $1.1782
  • Brent Futures down 0.3% to $73.59/bbl

Top Overnight News from Bloomberg

  • Negotiations between the European Union and the U.S. to recognize each other’s vaccination passes are struggling to make headway due to the absence of a federal certification system in America
  • Companies across Europe are stepping up price hikes to cope with mounting cost pressure and business disruption, adding to the alarm bells about an inflation spike that could spell trouble for the economy
  • Britain’s economy showed signs of slowing in July as euphoria following the easing of restrictions eased and a resurgence of the coronavirus caused widespread staff shortages
  • Spreads are blowing out between short-term German debt and its peers after the European Central Bank signaled it may not raise interest rates for years

A more detailed look at global markets courtesy of Newsquawk

Asian stocks traded mixed with the region indecisive following on from a choppy performance stateside and with the continued absence of Japanese participants, as well as rising COVID-19 cases adding to the subdued mood. ASX 200 (+0.1%) swung between gains and losses with strength in tech, healthcare and consumer stocks offset by weakness in the top-weighted financials and commodity-related sectors, while the mood was also kept tentative by New Zealand PM Arden’s announcement to pause the trans-Tasman travel bubble for eight weeks and after New South Wales Premier Berejiklian flagged an extension to the Sydney lockdown beyond July 30th. KOSPI (+0.1%) was positive as earnings took centre stage including the nation’s largest bank KB Financial Group which topped forecasts for Q2 net, although gains for the index were limited by rampant infections which has forced the government to extend social distancing rules for another two weeks. Hang Seng (-1.5%) and Shanghai Comp. (-0.7%) were negative whereby healthcare led the declines across defensives and property developers were pressured after Chinese banks tightened mortgage lending in various cities, while local authorities also bolstered measures aimed at curbing home prices. In addition, tensions continued to linger ahead of US Deputy Secretary of State Sherman’s visit to China from Sunday with the US said to be disappointed by China’s response to the WHO plan for a phase two probe of COVID origins and stated that this is not a time for China to be stonewalling.

Top Asian News

  • Zomato Soars 80% in Debut of India’s New Tech Generation
  • Chinese Startup Meicai Said to Mull Hong Kong IPO Amid Crackdown
  • Malaysia Apologizes for ‘Human Error’ Over Empty Covid Jab
  • Condom Maker Lifestyles Is Said to Mull $500 Million Sale

Bourses in Europe remain on the front foot as the region holds onto the gains seen at the open (Euro Stoxx 50 +0.8%), although momentum has somewhat stalled with this week’s risk events out of the way, with sights now set on next week’s FOMC. US equity futures also conform to the mild risk appetite with broad-based gains across the majors. News flow has remained light and Flash PMIs varied, with the EZ largely topping forecasts whilst the UK disappointing, but nonetheless, the Delta variant themes resonated across all releases alongside the likelihood of higher costs feeding through to higher consumer prices in coming months. Sectors are predominantly in green with no overarching theme. Autos top the charts, closely followed by Basic Resources, Tech, and Retail, whilst Oil & Gas, Travel and Media lag. In terms of individual movers, Vonovia (+0.1%) and Deutsche Wohnen (-1.3%) came under pressure amid source reports the latter’s takeover will likely fail and the 50% vote threshold likely not be reached. Venovia said it is still counting shares tendered by Wohnen shareholders and the result is expected on Monday. In terms of earnings-related movers, Vodafone (+2%) is underpinned after topping revenue forecasts. Valeo (+7.5%) extends its earlier gains after constructive earnings but warned of rising raw material prices.

Top European News

  • Isolation Scrapped for Key Workers Over U.K. Shortages
  • ECB 2% Goal Must Be 12-18 Months Away Before Hike, Villeroy Says
  • KPMG’s Banking Audits Aren’t Good Enough, U.K. Watchdog Says
  • Gold Steadies on ECB’s Support Pledge, Mixed U.S. Economic Data

In FX, the Dollar is firmer almost across the board after recovering from several bouts of selling pressure on Thursday post-ECB and IJC that pushed the index down to within a whisker of 92.500 at one stage before a firm, late bounce. The DXY is hovering just under 93.000 within a 92.964-777 band vs yesterday’s 92.926-504 range, and looking for further direction from Markit’s preliminary US PMIs beyond outside influences that may well prompt more pronounced price action in the interim, like a marked change in overall risk sentiment or yield and curve backdrop. On that note, the Yen looks very vulnerable as the general market mood continues to improve and Treasuries bear-steepen at the end of a second consecutive Japanese market holiday, with Usd/Jpy now approaching 110.50 having breached a series of recent highs just shy of 110.40 plus the 21 DMA that comes in at 110.42 today and tested, but respected or rejected 110.00 a couple of times. Similarly, the Pound seems prone to another fall following fades at fractionally lower peaks vs the Greenback and Euro, not to mention far from flash UK PMIs, as Cable pulls back below 1.3750 and Eur/Gbp rebounds through 0.8550.

  • CHF/CAD – Also unwinding residual safe haven premium and losing out due to unfavourable rate dynamics, the Franc has retreated to 0.9200 vs the Buck and nearer 1.0850 than 1.0800 against the Euro, while the Loonie has lost some traction from oil awaiting Canadian retail sales for some independent impetus as it meanders inside 1.2600-1.2550 extremes.
  • NZD/EUR/AUD – All marginally divergent against their US rival, with the Kiwi benefiting from another change in crosswinds vs the Aussie after a slide in Australia’s services PMI under the key 50.0 threshold and NSW’s Premier warning that Sydney’s lockdown will have to be extended again beyond next Friday due to conditions in parts of the city deemed to be at national emergency levels. Nzd/Usd is holding above 0.6950, whereas Aud/Usd has backed off from 0.7400 and Aud/Nzd from just over 1.0600. Elsewhere, the Euro is still keeping afloat of 1.1750, and with the aid of upbeat German preliminary PMIs that underpinned the Eurozone prints following sub-consensus French readings. However, Eur/Usd is capped into 1.1800 where 1 bn option expiries reside.
  • EM – Very little reaction to standard 2-way, but basically stable Yuan mantra from China’s FX regulator, understandably, but the Zar has extended post-SARB and Eskom power shutdown declines and the Rub is looking for guidance from the CBR that is expected to hike 50 bp amidst comparative calm in Brent crude prices between Usd 73.97-32/brl.

In commodities, WTI and Brent front-month futures have been consolidating within tight ranges overnight after yesterday’s settlements with a gain of over USD 1.50/bbl apiece. The overnight holding pattern came amid a lack of fresh catalysts and with Japanese players away from their desks due to a domestic holiday. The demand picture remains at the helm of COVID variant developments and the race to double-vax (and a possible booster jab), whilst the supply side of the equation holds some near-term certainty with the OPEC+ quotas set and the next meeting slated for September. In the absence of developments that impact the supply/demand balance, crude prices are likely to take a cue from the broader market sentiment, with WTI meandering around USD 71.75/bbl and within a relatively tight USD 71.46-79 band. The Brent contract trades on either side of USD 73.50/bbl in a USD 73.32-86 intraday range, with the arb between the two front-month contracts steadier around the USD 2/bbl mark. Elsewhere, spot gold has been contained within a USD 10/bbl range throughout most of the session in the absence of news flow and with key risk events out of the way, but the yellow metal resently dipped below USD 1,800/oz. LME copper briefly reclaimed the USD 9,500/t handle as the constructive risk appetite throughout the week (so far) alongside the rosy demand fundamentals. That being said, IHS in their Flash EZ PMI release noted “Supply chain delays remain a major concern for manufacturing, however, constraining production and pushing firms’ costs higher. These higher costs have led to a near record increase in average selling prices for goods and services, which is likely to feed through to higher consumer prices in coming months.” – highlighting some fears that prompted China’s crackdown on the surge in base metal prices.

US Event Calendar

  • 9:45am: July Markit US Composite PMI, prior 63.7
  • 9:45am: July Markit US Services PMI, est. 64.5, prior 64.6
  • 9:45am: July Markit US Manufacturing PMI, est. 62.0, prior 62.1

DB’s Jim Reid concludes the overnight wrap

It’s your last chance this morning to respond to our latest monthly survey, link here. This month we ask a number of questions about covid restrictions to judge how you feel about how life is progressing and will progress over the coming months. We also ask whether the UK has done the right or wrong thing by lifting all legal covid restrictions. In addition, we ask all the normal regular and market directional questions. All responses gratefully received. It should only take 3-4 minutes to complete and is totally anonymous.

It may be the Olympic Opening Ceremony this morning, but markets failed to take the ‘faster, higher, stronger’ motto to heart yesterday, with investor risk appetite starting to show signs of slipping back again after the recent bounceback. Although the ECB dominated attention, some weaker-than-expected US data served to dampen sentiment ahead of next week’s Fed meeting, whilst residual concern about the delta variant’s spread and the prospect of tighter restrictions remained in the background for a number of key economies.

Starting with the ECB, the main headline was that the Governing Council updated their forward guidance in light of the recent Strategy Review, taking into account their new symmetric 2% inflation target. In the statement, the ECB said that they expect interest rates to remain “at their present or lower levels until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon”. So given that the ECB’s latest forecasts in June pointed to headline HICP inflation at +1.5% in 2022 and +1.4% in 2023, it’s implying that there’s still a long way to go before rate hikes would be consistent with the inflation outlook. Indeed, the statement said in addition that this “may also imply a transitory period in which inflation is moderately above target.” Meanwhile in their reaction piece (link here), our European economists have now pushed back the timing of the strategic PEPP exit decision from September to December, as a result of President Lagarde still saying that PEPP exit would be premature and the uncertainty of the new delta variant.

In response to the ECB, sovereign bond yields moved lower across the continent, with those on 10yr bunds (-3.2bps), OATs (-3.9bps) and BTPs (-5.1bps) all hitting their lowest levels in at least 3 months. There was also a noticeable tightening in spreads, with the gap between Italian (-2.0bps) and Spanish (-2.6bps) 10yr yields over bunds both coming down on the day, while the Euro (-0.20%) closed at a 3-month low against the US dollar of $1.177. That said, press reports indicated that there wasn’t complete consensus on the Governing Council around the new approach, with Bloomberg saying that Bundesbank President Weidmann and Belgian Governor Wunsch were against the new forward guidance and were concerned about making an overly long-term commitment to keeping monetary policy loose.

Speaking of central banks and inflation, yesterday DB Research put out the second note in our “What’s in the tails?” series, where our research group is considering alternative viewpoints of interest. This edition looks at heightened inflation risks in Germany, where the ECB’s policy of achieving 2% inflation across the Euro Area as a whole means that inflation within Germany could exceed the 2% mark for several years without triggering an ECB policy response. Indeed, this scenario is made even more likely by the fact that the ECB has announced it will wait until they’re fully convinced their policy has worked before adjusting, making such a scenario even more likely. You can read the latest note here.

Although European equities put in another decent performance yesterday, with the STOXX 600 up +0.56%, US indices were more subdued as the S&P 500 only rose +0.20%. Tech stocks outperformed on both sides of the Atlantic, with the NASDAQ up +0.36% and the more concentrated NYFANG+ index gaining +0.46%. Furthermore, after the close both Snap and Twitter reported earnings that beat estimates, which saw both rise in after-hours trading, and also support Facebook and Google’s share prices. However, small-cap stocks lost ground yesterday after their best 2-day performance since January, with the Russell 2000 down -1.55%. And reflecting the broader cautious tone, yields on 10yr Treasuries declined another -1.0bps to close at 1.278% on the back of lower real yields.

Staying on the US, the potential infrastructure bill continued to move toward the finish line with the bipartisan group of Senators agreeing on a portion of funding that will come from delaying Trump-era Medicare regulation. Senator Joe Manchin, one of the moderate Democrats at the centre of the negotiations, declared that there was “an agreement on 99%” of the bill with the pay-fors lined up. Many Senators are expecting the legislation to move forward early next week with votes from both parties needed. Lastly, Senate Majority Leader Schumer announced that he would push to delay the Senate’s August recess – currently set to start on August 9 – to finish working on the bill.

Updating our screens overnight, Asian markets have similarly put in a subdued performance, with the Hang Seng (-0.99%) and Shanghai Comp (-0.65%) each losing ground, whilst the Kospi (+0.10%) and India’s Nifty (+0.16%) have made modest gains. In Japan, markets are closed for a public holiday, and outside of Asia, futures on the S&P 500 are up +0.24%.

Looking ahead now, the main highlight today will likely be the release of the flash PMIs from Europe and the US, which should give us an initial indicator of how their economies have fared into the start of Q3. Back in June, the final Euro Area composite PMI hit a 15-year high of 59.5, while the US number came in at 63.7, which was its second-strongest on record, so it’ll be interesting to see if that momentum has been maintained, particularly given the recent uptick in Covid-19 cases and concerns about the delta variant. Overnight, we’ve already had the flash numbers from Australia, which showed a material weakening in the services PMI given the imposition of lockdown in various regions, which fell to a contractionary 44.2 (vs. 56.8 last month) and brought the composite reading down to 45.2 (vs. 56.7 last month). As we’ve seen in other regions however, manufacturing activity was relatively shielded, with the PMI there still at 56.8 (vs. 58.6 last month), and above the crucial 50-mark that separates expansion from contraction.

One asset class that put in a relatively strong performance yesterday was commodities, with Bloomberg’s commodity spot index up +0.85% in its 3rd consecutive advance, leaving it within 1% of its high for the decade back in June. Oil prices supported the rebound, as Brent Crude (+2.16%) and WTI (+2.29%) moved back into positive territory for the week following Monday’s rout. However, one of the most notable moves yesterday was in coffee prices, which surged +10.03% yesterday to a 6-year high thanks to a major frost in Brazil hurting production. So you might start to see inflation showing up in the price of your morning coffee as well now.

Turning to the pandemic, we had some brighter news from the UK yesterday as the number of new daily cases came in at 39,906, which means that the 7-day average of cases now stands at 46,460, down from 47,696 the previous day. That’s the first decline in the 7-day average since May 18, so the big question now is whether this will be sustained given the reopening on Monday, to which we should find out the answer in the coming days. As previously discussed, we think that the UK is an interesting case study to watch, since their vaccination programme is relatively advanced (over two-thirds of adults are fully vaccinated), while the vast bulk of legal restrictions have now been removed, with even nightclubs open again. So if the UK can make it through the summer without seeing pressure on its health service, that’ll offer a positive signal to other countries as to where you can potentially get to with high vaccination rates.

In terms of what’s going on elsewhere, Portugal announced that it would be extending restrictions to further municipalities in light of a recent rise in cases. Chancellor Merkel said at her summer press conference that cases could double in less than two weeks, as was seen in France – where yesterday they announced cases were up over 133% in a week. Separately, Italy announced that some activities, such as indoor dining, will be restricted for residents who are not vaccinated against Covid-19 or recently tested negative. And over in the US, weekly cases were up over 225k in the last week with the CDC projecting cases are likely to increase to over 305k per week by mid-August. States with relatively lower vaccination rates are unsurprisingly driving much of the current case growth, with Florida, Missouri, Arkansas, and Louisiana the current hot spots in terms of cases per capita over the last week. Finally in Asia, Singapore has said that it will postpone its annual independence day celebrations to August 21 from August 9 in order to control the spread of the virus, and South Korea has also decided to extend its current social distancing restrictions in the greater Seoul area for another two weeks.

On the data side, we had a number of weaker-than-expected US releases yesterday, most notably with a poor set of initial jobless claims for the week through July 17, which surprised noticeably to the upside with a 419k reading (vs. 350k expected). That’s a +51k increase from the previous week, marking the biggest weekly increase since March, whilst the prior week’s number was also revised up +8k. Otherwise, existing home sales for June came in at an annualised rate of 5.86m (vs. 5.90m expected), the Chicago Fed’s National Activity index was at 0.09 in June (vs. 0.30 expected), and the Kansas City Fed’s manufacturing activity index for July came in at 30 (vs. 25 expected).

To the day ahead now, and the main highlight will likely be the release of the flash PMIs for July from around the world, whilst other data includes the UK’s retail sales for June. Otherwise, earnings releases include Honeywell, NextEra Energy and American Express, and today also marks the start of the Olympic Games in Tokyo.

end 

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 24.57  PTS OR 0.68%   //Hang Sang CLOSED DOWN 401.86 PTS OR 1.45%      /The Nikkei closed   //Australia’s all ordinaires CLOSED UP 0.16%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4778  /Oil UP TO 71,77 dollars per barrel for WTI and 73.65 for Brent. Stocks in Europe OPENED ALL GREEN  /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4778. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4812/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER 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/CORONAVIRUS

 

end

Japan//UK/China 

UK sending 2 warships to Japan and that infuriates China

(zerohedge)

UK’s Sending 2 Warships To Japan Infuriates China – Warns Against “Flexing Muscles”

 
THURSDAY, JUL 22, 2021 – 09:00 PM

China is urgently warning Britain against “flexing muscles” in and around its claimed territorial waters after the UK confirmed it is sending two warships to be permanently stationed off Japan to patrol Asian waters.

Chinese Foreign Ministry spokesperson Zhao Lijian said in the wake of the announcement earlier this week that Beijing “firmly opposes the practice of flexing muscles at China.” His Wednesday comments to reporters further described that any ‘permanent’ UK military presence “undermines China’s sovereignty and security, and harms regional peace and stability.”

HMS Queen Elizabeth and escort ships, via Royal Navy.

As we described previously, Britain’s Defense Minister Ben Wallace this week unveiled that the UK will keep two warships in the region while in Tokyo meeting with his Japanese counterpart, Nobuo Kishi. “Following on from the strike group’s inaugural deployment, the United Kingdom will permanently assign two ships in the region from later this year,” he had said. 

It broadly demonstrates that Britain has of late joined Washington in deepening its security ties with Japan at a moment tensions with China over Taiwan and other contested islands are at their highest in years. The US-UK military build-up appears centered on growing rumors of a near-future Chinese military move on Taiwan, also as the PLA military has of late sent unprecedented numbers of aircraft to breach Taiwan’s Defense Identification Zone. 

Rabobank had this to say as the HMS Queen Elizabeth aircraft carrier is en route to the region – first taking part of joint exercises with regional allies including the US Navy:

…The UK just announced its two new aircraft carriers will be based in Japan from now on, with the first due to arrive in September. Think about that for a moment. Two vastly-expensive pieces of military equipment, full of US-made F-35s, and British sailors and sausages, kept on the other side of the world. It says a huge amount about the UK’s intentions to go global in at least one dimension – alongside the Quad. Expect new trade architecture to eventually flow as a quid pro quo, or else the UK isn’t doing diplomacy right. (And that is admittedly a real possibility with the current UK bridge crew, as we see with Northern Ireland.)

Britain is indeed describing a “realignment” to the Indo-Pacific based on its “commitment to collective security”.

Japan is of course welcoming this at a moment the historic Senkaku Islands dispute with Beijing in the East China Sea is again heating up, while an anxious China looks on with growing anger, as Newsweek details

The Queen Elizabeth Carrier Strike Group, which also has U.S. Navy and Royal Netherlands Navy escorts, is scheduled to transit the contested South China Sea on its way to Japan. China claims almost all of the energy-rich sea as part of its expansive “nine-dash line.”

Earlier this summer China warned the Western allies – specifically the US, UK, and NATO that its military will not “sit by and do nothing” if “challenges” arise. No doubt Beijing will see any new US and UK ‘permanent’ military deployment off Japan as reason enough to act with its own ‘muscular’ deployment in response. 

end

Olympics begin marred by protests as most of the sponsors flee

(zerohedge)

Scaled-Back Olympics Opening Ceremony Marred By Protests As Sponsors Flee

 
FRIDAY, JUL 23, 2021 – 09:15 AM

The 2020(1) Summer Games officially commenced Friday in Tokyo where a scaled back opening ceremony went off without a hitch: it began with the Japanese flag being carried out by a group of children, before dancers representing traditional carpenters re-enacted the construction of traditional wooden dwellings common in Japan.

A wooden set of Olympic rings featured in the ceremony was reportedly constructed from the wood of trees planted in the summer of 1964, the last time Tokyo hosted the Games. Japan’s emperor was on hand to officially open the Games as well.

But while the 1964 Games were a watershed moment for a post-war Japan, the tone was markedly different this year. Crowds of Japanese protesters, furious that organizers are allowing the Games to continue without spectators in the middle of a State of Emergency, gathered outside. First Lady Jill Biden and French President Emmanuel Macron were among the special guests in the mostly empty 68,000-capacity stadium.

Still, as one twitter user pointed out, “you have to appreciate the audacity of the Olympics to try to sell the message of unity while Japan’s citizens are protesting the Games…”

And western media outlets published plenty of photos of the sizable crowd, which dwarfed the fewer than 1,000 spectators allowed to witness the opening ceremony in person.

On top of the difficulties posed by the pandemic, the Opening Ceremony was plagued by other obstacles. Three directors and a musical composer were fired over various scandals. Despite the fact that Japan had an extra year to prepare, the planning for the opening ceremony seemed to crumble at the last minute, as Kentaro Kobayashi, the last of the directors, was fired just a day before the ceremony as a standup bit he performed in the 1990s featuring a joke about the Holocaust happened to resurface.

Just over half of the athletes set to compete in the Games marched during the Opening Ceremony (5,700 out of 11,000 athletes), and those who did march observed social distancing protocols.

Infographic: Tokyo Olympics Face Widespread Opposition | Statista You will find more infographics at Statista

The ceremony also stood out for the lack of visible corporate sponsors after top-tier sponsors like Toyota and Panasonic abandoned plans to sponsor the event. Other domestic sponsors, including NTT and NEC, are also staying away, according to Nikkei. Many of the sponsors said they feared having their brands associated with an event that the overwhelming majority of Japanese oppose.

3 C CHINA

 
 

China

China stocks stumble on other crackdowns.  Communism at its finest!!

(zerohedge)

China Stocks Tumble After Beijing Said To Plan Edtech Crackdown, Will Convert Tutoring Firms Into Non-Profits

 
FRIDAY, JUL 23, 2021 – 08:38 AM

Another day, another communist crackdown by Beijing on a booming private sector, another plunge in Chinese stocks as the facade of socialism capitalism with Chinese characteristics” is slowly chipped away.

China’s government is planning a crackdown on the country’s booming off-campus tutoring industry, in one of the biggest overhauls of the education sector that sent dozens of publicly listed stocks tumbling in Shanghai and Hong Kong, as part of a sweeping set of constraints that could decimate the country’s $100 billion education tech industry, sending shares crashing.

According to SCMP, in one of the biggest overhauls in local edtech industry, local authorities will ask companies that offer tutoring on the school curriculum to go non-profit; they will also ban the provision of holiday and weekend tutoring, “and will no longer approve the establishment of new tuition centres, according to sources briefed on a newly released policy document promulgated by the State Council.”

As part of this non-profit conversion, companies that operate edtech platforms, or services that provide online education, will not longer be allowed to raise capital through initial public offerings. Listed companies and overseas investors will be barred from investing, or acquiring stakes, in education firms that teach school curriculum, according to the rules.

Bloomberg adds that local regulators will also stop approving new after-school education firms seeking to offer tutoring on China’s compulsory syllabus and require extra scrutiny of existing online platforms, the people said. Vacation and weekend tutoring on school subjects will also be banned, they said. Changes may still occur as the rules haven’t been published. The 21st Century Business Herald earlier reported the bans on IPOs and investments by listed firms.

The new set of regulations, devised and overseen by a dedicated branch set up just last month to regulate the industry, could wipe out the enormous growth that made stock market darlings of TAL Education Group and Gaotu Techedu Inc. The regulatory assault mirrors a broader campaign against the growing heft of Chinese internet companies from Didi Global Inc. to Alibaba Group Holding Ltd.

Beijing is coming down hard on the sector as “excessive tutoring anguishes young pupils and burdens parents with expensive tutoring fees” according to Bloomberg. It’s also regarded as an impediment to one of the country’s top priorities, boosting a declining birth rate. Last month, China said it will allow a couple to have three children and released a slew of support measures to encourage births and lower child expenses.

The booming industry – estimated at 811 billion yuan (US$125 billion) in 2021 by Frost & Sullivan – has added to the costs of young households, contributing to a financial burden that has dissuaded families from having more children, even as the government abandoned its one-child policy population control. – SCMP

“The motivation behind the government’s move to ease the burden for students is that many people are not willing to have children due to the huge cost of raising kids,” said Li Qingshan, research director at EqualOcean. “There are fewer and fewer newborns in recent years. And that’s the problem the government needs to solve as the top priority.”

The latest rules are details that added to the edict by Chinese President Xi Jinping during a May 21 meeting, during which he instructed the government to rein back on runaway investments in the education industry, and promulgated a set of rules to ease the burden of homework and after-school training for primary and secondary school students.

Beijing has taken issue with for-profit companies for stressing out kids while enriching investors and startup founders. In May, President Xi Jinping chaired a meeting with top officials where they approved a new set of rules to ease the burden of homework and after-school training for primary and secondary school students.  Last month, China’s education ministry created a dedicated division to oversee all private education platforms for the first time. That followed a plethora of restrictions, including caps on fees firms can charge and time limits on after-school programs. Regulators have fined two of the biggest startups for false advertising: Alibaba-backed Zuoyebang and Tencent-investee Yuanfudao. A new law on minor protection, which went into effect June 1, also bans kindergarten and private institutions from teaching the primary-school curriculum to pre-schoolers — not uncommon previously.

Making the whole sector go non-profit “would make being a listed entity meaningless,” said Justin Tang, head of Asian research at United First Partners. “Investors are selling out first and asking questions later. It’s all being done to reduce cost of education and motivate citizens to raise kids.”

Others agreed: “Making the sector non-profit is just as good as eradicating the industry all together,” said Wu Yuefeng, a fund manager at Funding Capital Management (Beijing) Co. “The regulations on financing are a major surprise and shows that to the authorities, this is a matter of no small importance. In the short term for the sector, any news will be bad news.”

In response, Gaotu Techedu, TAL Education and New Oriental Education & Technology Group all plunged by at least 50% this morning  while Koolearn Technology Holding Ltd. tumbled 28%, also its biggest-ever single day loss.

It wasn’t just techedu stocks that got crushed: shares of some of the biggest US-listed Chinese firms also dropped in premarket trading Friday as concerns surrounding further regulatory scrutiny deepen. Didi shares sink as much as 12%, extending their losing streak to a second straight day and taking their post IPO losses to 35% in just three weeks! The ride-hailing giant fell more than 11% on Thursday after Chinese regulators were said to be considering “unprecedented penalties” for the firm after its disastrous IPO last month.  Chinese tech-giants, which have been under pressure amid China’s ongoing crackdown of the sector, are also lower in premarket: Alibaba falls 3%, Pinduoduo slides 3.9%, JD.com slips 3.7%, NetEase declines 3.1%, Nio loses 2.8%, Baidu drops 2.5%, Xpeng is down 2.4% and Li Auto falls 3.2% as of 8:05 a.m. in New York.

As Bloomberg adds, shares of China’s largest private education companies are among the world’s worst performers in recent months, with New Oriental Education, TAL Education and Gaotu Techedu together shedding nearly $100 billion of value from their highs reached earlier this year. Gaotu hasn’t received official notification of the rules, the company said in an email.

As much as $10 billion of venture capital poured into China’s edtech sector last year alone, spawning hundreds of start-ups, apps, and edtech platforms that provided everything from K-12 tutoring to elementary mathematics, language skills and music. Alibaba, Tencent Holdings Ltd. and ByteDance Ltd.all entered the arena, seeking to capitalize on Chinese parents’ desires to give their children every academic advantage. A spokesman from the education ministry said relevant polices are still being formulated and declined to provide more details.

Several high-profile startups in the sector  including Yuanfudao, which at $15.5 billion is the most valuable of the lot, are likely to have to put initial public offering plans on hold because of the crackdown.

end

Thousands have disappeared from the Uygher detention centres

(zerohedge)

“Hundreds Of Thousands Have Disappeared” – Inside China’s Largest Detention Center

 
THURSDAY, JUL 22, 2021 – 11:00 PM

President Biden is ramping up pressure on Beijing over its alleged human rights abuses in Xinjiang, which include – according to human rights groups – warehousing the Uygher Muslims who populate the far-western region in prisons that double as reeducation centers. The CCP says the Uyghers are receiving job training under the generous supervision of the state.

But while that excuse might fly in China’s state-controlled press, thanks in part to President Trump, the US no longer has illusions. Even President Biden has been forced to burnish his tough-on-China credentials by following through on his threats.

His latest round of Hong-Kong-related sanctions and the international condemnation over Beijing’s alleged role in organizing massive cyberattacks including the infiltration of Microsoft Exchange has greatly irritated Beijing. The fact that they rug-pulled the Didi IPO shows how serious China is about weening its economy off of American capital and markets (while simultaneously propping up its own markets).

As Biden pushes ahead with the crackdown (much to the chagrin of those intelligence assets who partnered with Hunter Biden in that thinly -veiled influence-peddling operation) Beijing is apparently trying to convince the American public that claims of human rights abuses are overblown. 

For that reason, it appears, the Chinese authorities granted reporters from the Associated Press a guided tour of Urumqi No. 3 Detention Center, one of the biggest detention centers in the country. It’s located in Dabancheng, a city in Xinjiang.

According to the AP, the Detention Center is one of the largest in China, and possibly one of the largest in the world. It can hold an estimated 10K people, and many more if they are crowded in (like in American prisons). The compound itself is spread across 220 acres. The AP is the first western media outlet to be allowed inside (although the BBC and Reuters have reported from outside the facility).

That China allowed the western journalists in suggests Beijing was trying to send a message: that it isn’t trying to hide the program, and expects t continue locking up and “reeducating” Uyghers (and, presumably, any other troublesome minorities) for as long as it takes.

China insists the campaign of imprisoning and terrorizing more than 1MM Uyghers over the past 4 years is a “war against terror”.  The campaign was preceded by a series of attacks organized by radical Uygher separatists. The prisons, which, according to China, double as “vocational training centers” soon followed. Beijing has made some changes after being confronted with international condemnation. Many Uyghers have been released over the past year. But many others have simply been moved to prisons.

China at first denied their existence, and then, under heavy international criticism, said in 2019 that all the occupants had “graduated.” But the AP’s visit to Dabancheng, satellite imagery and interviews with experts and former detainees suggest that while many “training centers” were indeed closed, some like this one were simply converted into prisons or pre-trial detention facilities. Many new facilities have also been built, including a new 85-acre detention center down the road from No. 3 in Dabancheng that went up over 2019, satellite imagery shows.

The changes seem to be an attempt to move from the makeshift and extrajudicial “training centers” into a more permanent system of prisons and pre-trial detention facilities justified under the law. While some Uyghurs have been released, others have simply been moved into this prison network.

Many Uyghers have been imprisoned for the crime of attending a religious gathering, or traveling abroad.

“We’re moving from a police state to a mass incarceration state. Hundreds of thousands of people have disappeared from the population,” Byler said. “It’s the criminalization of normal behavior.”

During the April tour of No. 3 in Dabancheng, officials repeatedly distanced it from the “training centers” that Beijing claims to have closed.

“There was no connection between our detention center and the training centers,” insisted Urumqi Public Security Bureau director Zhao Zhongwei. “There’s never been one around here.”

One of the reporters’ Chinese minders offered a telling comment.

They also said the No. 3 center was proof of China’s commitment to rehabilitation and the rule of law, with inmates provided hot meals, exercise, access to legal counsel and televised classes lecturing them on their crimes. Rights are protected, officials say, and only lawbreakers need worry about detention.

“See, the BBC report said this was a re-education camp. It’s not – it’s a detention center,” said Liu Chang, an official with the foreign ministry.

However, a local contractor shared a dramatically different story with the AP.

Records also show that Chinese conglomerate Hengfeng Information Technology won an $11 million contract for outfitting the Urumqi “training center”. A man who answered a number for Hengfeng confirmed the company had taken part in the construction of the “training center,” but Hengfeng did not respond to further requests for comment.

A former construction contractor who visited the Dabancheng facility in 2018 told the AP that it was the same as the “Urumqi Vocational Skills Education and Training Center,” and had been converted to a detention facility in 2019, with the nameplate switched. He declined to be named for fear of retaliation against his family.

“All the former students inside became prisoners,” he said.

We can’t help but point out that the description of the site doesn’t sound like any school we have ever seen: it’s surrounded by a concrete wall with watchtowers, and electric wire. In one corner of the compound, the journalists could see masked inmates sitting in rigid formation. When the “students” consult with their lawyers in special rooms, they are strapped to their seats.

The AP reported on documents showing some detainees were arrested for sharing religious texts, or even just downloading a file-sharing application to their phones – or simply just for being deemed an “untrustworthy person.”

All in the name of fighting terrorism.

END

CHINA VS USA

China retaliates with sanctions on Wilbur Ross with his Hong Kong warning
(zerohedge)

China Hits US Entities With Retaliatory Sanctions, Including Wilbur Ross, Over Hong Kong Warnings

 
FRIDAY, JUL 23, 2021 – 12:09 PM

In the latest growing tit-for-tat China has hit back at Washington after last Friday the US sanctioned seven Chinese officials related to Hong Kong anti-democracy, pro-mainland policies and crackdown on activists. Part of last Friday’s “message” which resounded loudest was the Biden administration’s direct warning to American companies of “risks of incurring legal and reputational damage if they conduct business in Hong Kong” given the rapidly shifting legal landscape. “The situation in Hong Kong is continuing to deteriorate,” the White House had said days ago. “The risks faced in mainland China are now increasingly present in Hong Kong.”

This angered Beijing enough to now a week later on Friday announced retaliatory sanctions, specifically against six American individuals and one entity – the exact number targeted in the prior US sanctions – but which crucially includes Trump’s Commerce Secretary Wilbur Ross.

 

Hong Kong file, via Reuters

Earlier Beijing had warned that retaliatory action was coming: “China will respond firmly and forcefully to the measures taken by the United States,” the foreign ministry said last Friday.

Here’s the list, as published in Axios:

  • Former Commerce Secretary Wilbur Ross

  • U.S.-China Economic and Security Review Committee chair Carolyn Bartholomew

  • Congressional-Executive Commission on China former staff director Jonathan Stivers

  • National Democratic Institute’s DoYun Kim

  • International Republican Institute associate director Adam King

  • Human Rights Watch China director Sophie Richardson

  • The Hong Kong Democracy Council

The US basis for its initial sanctions, the latest in a series ever since the draconian June 2020 national security law was passed in Hong Kong resulting in pro-independence activists either fleeing or being jailed, is that China is breaking the 2020 Hong Kong Autonomy Act.

Last week’s sanctions and a new White House business advisory arrived just over one year after former President Donald Trump ordered an end to Hong Kong’s special status under US law to punish China for what he called “oppressive actions” against the former British colony. At the time that major shift was unveiled and announced by Ross himself – thus the symbolism in Friday’s action by Beijing is very clear.

The Biden Administration warned businesses operating in Hong Kong that they are subject to the restrictive national security law which means they’re at risk of electronic and physical surveillance without warrants and of having to surrender corporate and customer data to the Chinese government.

“The situation in Hong Kong is deteriorating,” President Biden had said last week while hosting German Chancellor Angela Merkel for that last time before she leaves office. “And the Chinese government is not keeping its commitment that it made on how it would deal with Hong Kong, and so it is more of an advisory as to what may happen in Hong Kong. It’s as simple as that and as a complicated as that.”

end

CHINA/HENAN PROVINCE/ZHENGZHOU

Robert H to me on the dams bursting!

(courtesy Robert H)

Bursting dams have consequences

 
 
 
 
Last year we saw a major flood in China. This year just in the last week or so we seen 3 dams have burst in China. The fallout from this is quite significant and it is not being well canvassed. We are about to experience is another wave of shortages. Especially when you consider it’s not just the factories that make everything from containers to plastic bags that shut down as a result of flooding. But the actual factories that make the aluminum for cans, the rolled steel for cans, various  plastic containers have shut down. This is not going to be a short term problem as some factories are simply gone and have to be recreated from the ground up which will take considerable time before they can even supply secondary manufacturing. Without rolled aluminum sheet you cannot make a can, so it becomes a chicken and egg problem that cannot be fixed in months. Add to this the need for chips and the problem grows in dimension and time needed to fix it.  Even an adhesive needs a container to be shipped in.
Expect real shortages of goods to occur because various containers will  be in limited supply. This translates into lower economic activity and a serious hit to the Chinese economy. This further has repercussions on the physical state of health of china’s economy. Thus putting serious liquidity strain on the ability to service debt. The globalist illusion of China reliant supply as a cheap method of avoiding domestic production has found its’ Waterloo with the collapse of the 3 dams.
Expect rising prices and a bidding war for alternative production capacity to offset the disaster of flooding in China. Retailers are scrambling to secure alternative supply and are bidding up price of domestically produced goods as consequence. And the liquidity issues will affect everything from the value of publicly listed companies located in China to lenders who will see loan losses. And those parties hoping for Chinese originated cash investments should start thinking about alternatives.

 

Cheers
Robert

 
 
END
from Robert H to me:

Jennifer Zeng 曾錚 on Twitter: “A tractor-trailer driver who participated in the rescue in the #Zhengzhou tunnel said that more than 6,300 bodies had been found, and there are more. He was too upset to continue the work. His phone was seized by police before he left…. #flooding #floods #Flood #chinaflood” / Twitter

 

 
 
 
 
 
As I wrote this morning , China will try to keep a lid on this but it is a terrible loss of life and a massive economic hit.

https://twitter.com/jenniferatntd/status/1418596566626144256
end
 
CORONAVIRUS//PANDEMIC/ORIGINS

EXCLUSIVE: More Evidence Leaked from China on the Deliberate Release of COVID-19 by the Chinese Military

By Joe Hoft
Published July 23, 2021 at 8:10am

 

The following information was provided by a source inside China who has knowledge of the circumstances and has been vetted.

COVID-19 was created in a laboratory by the Chinese People’s Liberation Army and fine-tuned as a bioweapon.

Advertisement – story continues below

It was specifically designed to be highly contagious, but often asymptomatic, have low lethality, but produce uncontrollable variants and possessing characteristics providing plausible deniability as a bioweapon.

According to Chinese military doctrine, such bioweapons are used prior to a declaration of war for political or international strategic needs, where the use of which can be denied. The intent (underlined) being:

Even if the academic evidence, virological evidence and animal experiment data could possibly prove (that the virus comes from lab), we can just deny it, stop (investigation), suppress (scholars), make sure the international organizations and honest people’s work is futile.”

 

A fully formed sample of COVID-19 was ready for testing in early 2019, while a parallel vaccine program was underway.

Scientists from the Wuhan Institute of Virology were chosen to participate in non-human primate (monkeys) transmission testing, simulated coronavirus release and response exercises such as at Wuhan’s Tianhe airport in September 2019 and an actual test release of COVID-19 at the 2019 Military World Games from October 18–27, 2019.

The source mentioned special health screenings at the Military Games, perhaps as a means of monitoring the results of a small, short-term test release of COVID-19.

A statement allegedly made by a Chinese People’s Liberation Army officer at the time was “Let the white pigs have some.”

The release of COVID-19 at the Military World Games was also a test of the longer term effects of that type of bioweapon because foreign visitors to the Games would carry it back to their own countries and the consequences could be observed.

Because COVID-19 was designed for plausible deniability, infections could not be easily traced back to China and it could also be attributed to a natural origin.

The source explained that the subsequent outbreak in Wuhan was entirely unexpected. That is, there was no laboratory leak, but the unintended spread among the Chinese population of Wuhan of a virus for which they had underestimated its transmissibility.

Beijing learned about the silent spreading of COVID-19 by the beginning of December, but kept it quiet and allowed international flights from Wuhan to continue.

The source speculated about the COVID-19 test release and why the Wuhan outbreak was then leveraged by the Chinese Communist Party.

 

COVID-19 was meant to hit United States, its allies and the whole western world because of China’s economic problems and the trade war being conducted by President Trump. The effects of a pandemic might cause Trump to lose the election.

If the U.S. military was disrupted by COVID-19, further pressure could be applied to Taiwan, perhaps even invasion, and the uprisings in Hong Kong could be suppressed under the guise of public health measures.

If China escapes responsibility for COVID-19 and its bioweapons program is allowed to continue, there will likely be another, perhaps more deadly, attack.

Lawrence Sellin, Ph.D. is retired from an international career in business and medical research with 29 years of service in the US Army Reserve and a veteran of Afghanistan and Iraq. His email address is lawrence.sellin@gmail.com.

 

end

4/EUROPEAN AFFAIRS

 

ITALY/CORONAVIRUS.LOCKDOWNS

Protests erupt in Italy after new “health passports” revealed. As time goes on, more and more citizens realize the danger of vaccinations

(zerohedge)

Protests Erupt In Italy After New “Health Passports” Revealed

 
FRIDAY, JUL 23, 2021 – 07:57 AM

Thousands of people flooded the streets of Turin, a city located in northern Italy, Thursday evening to protest harsh government restrictions for unvaccinated citizens, dubbed the “green pass.” 

The Italian prime minister, Mario Draghi, told a press conference Thursday that the country will need to act and suppress another wave of COVID-19 infections at a time the Delta variant is spreading throughout Europe.  

The green pass — a digit certificate containing proof of immunization will be necessary for anyone older than 12 to enter stadiums, museums, theatres, cinemas, exhibition centers, swimming pools, and gyms. The pass is an extension of the EU’s digital Covid certificate and will also be required for restaurants.

The updated version of the vaccine passport will begin on Aug. 5 and didn’t sit well with residents who see their freedoms whittled away by the government. This violation of freedom sparked a massive protest in Turin. 

“As soon as the Italian government announced the introduction of the “health passport” people took to the streets to protest. The images below are from Torino just now. The feeling in the streets is one of anger at the government’s decision,” the Twitter user said. 

Like the thousands of French citizens protesting in the streets in the past week, the Italian people were outraged by additional restrictions. 

The removal of COVID measures to restart European economies was widely hailed as a success. Still, the new Delta variant is causing concern and giving politicians the optimal cover to implement more populous control via green passes. 

 

UK//CORONAVIRUS/UPDATE

As England undergoes :”pingdemic”, citizens are now undergoing a widespread panic hoarding of goods at UK supermarkets

(zerohedge)

‘Pingdemic’ Triggers Widespread Panic Hoarding At UK Supermarkets 

Britain’s supermarkets are struggling to ensure adequate food supply after reports of panic hoarding due to what the British press calls “ping-demic” – a reference to being “pinged” by the NHS test-and-trace system.

We noted on Monday that ping-demic was likely to “lead to food shortages,” and that is precisely what is happening today. 

The Independent reports UK’s largest supermarkets are experiencing shortages after the number of people getting “pinged” on the NHS Test and triggered mass confusion. 

The NHS app sent a half-million alerts last week, notifying users they have to quarantine for ten days because of possible close contact with someone who tested positive for COVID-19. 

This has caused a supply chain shock and disruptions as hundreds of thousands of people panic buy food and fuel to survive the quarantine. 

British newspapers and social media users published pictures of empty supermarket shelves. 

“We’re very concerned about the situation,” Business Secretary Kwasi Kwarteng told Sky News when asked about panic hoarding at supermarkets. “We’re monitoring the situation.”

Sainsbury’s, Britain’s second-largest supermarket group, warned about supply shortages: 

“We are working hard to ensure customers can find what they need. 

“While we might not always have the exact product a customer is looking for in every store, large quantities of products are being delivered to stores daily and our colleagues are focused on getting them onto the shelves as quickly as they can,” a Sainsbury’s spokesperson toldReuters

The ping-demic comes after Prime Minister Boris Johnson lifted the remaining COVID-linked restrictions on movement and business at midnight on Monday, finally allowing people to move about more or less freely, even as new COVID cases are climbing in the UK and much of the EU.

A meat industry body warned that Britain’s food supply chains are on the cusp of “failing” due to labor shortages. 

British supermarket Iceland had to close several stores in recent weeks due to staff shortages. 

Rabobank’s Michal Every points out that ping-demic is hugely disruptive to businesses as crucial staff suddenly don’t turn up to work when there are already labor shortages

 

UK

Doorknobs:  the list of UK venues that could mandate “vaccine passports” are already expanding

(Watson/SummitNews)

List Of UK Venues That Could Mandate “Vaccine Passports” Already Expanding

 
FRIDAY, JUL 23, 2021 – 02:00 AM

Authored by Paul Joseph Watson via Summit News,

The list of attractions that could be forced to mandate vaccine passports as a condition of entry is already growing, with minister Nadhim Zahawi listing other “crowded venues” that may have to ban the unvaccinated.

On Monday, Prime Minister Boris Johnson made a mockery of ‘freedom day’ – when all coronavirus restrictions were supposed to be lifted – by announcing that nightclubs would be made to check for vaccine status on the door.

Despite widespread backlash to the idea and the potential for a defeat when it comes to a vote in Parliament, vaccines minister Nadhim Zahawi indicated today that the program could be extended further.

During a speech to the Commons, Zahawi said sporting and business events, churches, music venues and festivals would also be subject to the rules, which are expected to come into force at the end of September.

“We reserve the right to mandate its use in the future,” he said.

Zahawi also asked venues to make providing evidence of taking the jab or a negative test a condition of entry before September despite the fact that it’s not the law.

“Although we don’t encourage its use in essential settings like supermarkets, other businesses and organisations in England can adopt the pass as a means of entry where it is suitable for their venue or premises when they can see its potential to keep their clients or their customers safe,” he said.

As we previously highlighted, some nightclub owners are already saying they will refuse to follow the law because the system will be unworkable and wipe out profit margins.

It remains to be seen whether the entire issue is just a PR stunt to bully younger people into taking the vaccine or whether it will actually be implemented.

The government previously assured the public that vaccine passports would not be introduced for domestic purposes, even going so far as to label the practice “discriminatory.”

Despite widespread unruly protests in France forcing President Macron to walk back part of a similar plan, a vaccine passport will still be required to access a multitude of venues, including bars, cafes and public transport.

*  *  *

 

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 
 
 
IRAN//
 
Two protesters shot  as water crisis escalates.  Iran is having the worst drought in 50 years. Now an Iranian officer has been killed !!
(zerohedge)
 

Iranian Officer Killed In Worsening Water Crisis Protests – Internet Shutdowns Imposed

 
THURSDAY, JUL 22, 2021 – 07:40 PM

Water and power shortage protests in Iran have now been raging continuously for one week, resulting in multiple deaths and injuries particularly out of the restive southwest oil-rich province of Khuzestan, including the death of a police officer

State media by mid-week has reported a death toll of three: “According to the state-run IRNA news agency, gunfire killed the officer in the city of Mahshar and another suffered a gunshot wound to his leg,” the AP reports citing state sources. 

 

Iranians protest again water shortages in the Khuzestan province

Tehran has presented the violence and killings as the fault of “rioters” while the State Department early in the week referenced reports of security forces indiscriminately opening fire on peaceful protesters.

“We support the rights of Iranians to peacefully assemble and express themselves… without fear of violence, without fear of arbitrary detention by security forces,” State Dept. spokesman Ned Price said.

Chants saying “down with the Ayatollah” have also been reported based on widely circulating social media videos, also with external Iranian opposition groups as well as Saudi-funded think tanks in the West attempting to seize on the protests as an “opportunity” to weaken and overthrow the Islamic Republic regime.

Behind the crisis are US-led sanctions, severe government mismanagement of resources, but crucially what’s being dubbed the worst drought in 50 years.

One opposition group called Human Rights Activists in Iran was cited in AP as saying:

“As nearly 5 million Iranians in Khuzestan are lacking access to clean drinking water, Iran is failing to respect, protect, and fulfill the right to water, which is inextricably linked to the right to the highest attainable standard of health,” the group said.

And in a sign of the growing fierceness of the security response and crackdown, the global web-outage monitor Netblocks has reported widespread internet outages in Khuzestan for days, place of multiple protests across towns and cities, that are part of “state information controls or targeted Internet shutdowns.”

The monitor said outages began on July 15, with outages still being reported into this week…

Already throughout the summer other parts of Iran have witnessed protests over severe electricity shortages leading to unplanned, intermittent blackouts – which Tehran officials have actually in some instances admitted is due in large part to mismanagement and neglect, while also blaming US-led sanctions.

Both the energy and water crisis are deepening the outrage of the Iranian populace, particularly during a hot summer, and given apartment high rises in places like Tehran and other big cities are not designed to go long periods without air conditioning. The water protests have reached several cities in the oil rich southwest. And in the balance are the Vienna nuclear talks and a new incoming Iranian president – the former said to be “stalled” till later in August. Thus the crisis is likely set to get worse for the time being.

end

RUSSIA
 
Russia is feeling the pinch of inflation so they had to raise their key interest rate to 6.5%.  That should help the rouble.
However if they backed the rouble with gold, it would skyrocket in value
(Reuters)
 

Russia raises key rate to 6.5% in sharpest move since 2014

MOSCOW (Reuters) -Russia’s central bank increased its key interest rate to 6.5% on Friday to curb stubbornly high inflation and indicated that further rate increases were possible even after the 100 basis point hike, its sharpest since late 2014.

The decision to raise the rate from 5.5% was in line with the forecast in a Reuters poll. The Bank of Russia had raised rates by 50 basis points last month.

Friday’s decision, its fourth rate increase this year, came after annual consumer inflation, the central bank’s main area of responsibility, overshot expectations and accelerated to 6.5% in June, its highest since August 2016 when the key rate was at 10.5%.

“If the situation develops in line with the baseline forecast, the Bank of Russia will consider the necessity of further key rate increase at its upcoming meetings,” the central bank said in a statement.

The central bank said inflation was at 6.5% as of July 19 and will finish this year at 5.7-6.2% before returning to 4.0-4.5% in 2022. The central bank targets inflation of 4%.

High inflation eats into living standards and has been a key concern among households ahead of September parliamentary elections in which the ruling party United Russia is widely expected to retain its dominance.

Higher rates help tame consumer inflation by making borrowing more expensive and saving more attractive, while also supporting the rouble by buttressing demand for Russia’s high-yielding assets.

The rouble hit 73.5125 versus the dollar after the rate decision, its strongest level since July 6..

On the flip side, pricier credit can hamper economic growth.

But the central bank said had revised its forecasts and now expects the economy to grow by 4.0-4.5% in 2021 versus its earlier projection of 3-4% growth.

Governor Elvira Nabiullina will shed more light on the central bank’s forecasts and monetary policy plans during an online news conference at 1200 GMT. The next rate- setting meeting is scheduled for Sept. 10.

-END-

6.Global Issues

CORONAVIRUS UPDATE/

 

Here we witness the VaERS system mysteriously removing thousands of recorded deaths due to the vaccine.

Also remember that VAERS only gets to report on 10% of the true number of cases/deaths. 

 

(Youtube)

https://www.infowars.com/posts/caught-cdc-deletes-thousands-of-covid-vaccine-deaths/

The CDC’s COVID-19 vaccine adverse reaction tracking system VAERS mysteriously removed thousands of deaths last week just as the spotlight on vaccine-related deaths started to grow brighter.

Archived posts from the CDC website show that between December 14, 2020, & July 13th, 2021, VAERS received 6,079 reports of death among people who received a COVID vaccine.

 

The exact same web page showed from December 14, 2020, to July 19, 2021, 12,313 deaths were reported.

That’s a 6,234 death increase in six days!

However, on July 21, just two days later, the website claimed the number of deaths reported after receiving the COVID vaccine was back down to 6,207.

So, what is the real number?

A whistleblower recently submitted a declaration under threat of perjury as part of a lawsuit, claiming VAERS underreports vaccine-related deaths by a factor of at least five.

If her calculations are correct, the real number of COVID vaccine-induced deaths is closer to 45,000.

 

In the document, the anonymous insider claimed, “On July 9, 2021, there were 9,048 deaths reported in VAERS.”

This is a larger number than the VAERS page showed days later, on July 12.

On Wednesday, Senator Ron Johnson (R-WI) told Fox Business, “New cases of COVID in Israel are about 84% with vaccinated individuals.”

A full audit of COVID vaccine data should be initiated by elected officials.


Data out of Maine reveals the same pattern that emerged in Israel, vaccinated people are spreading and catching the Delta variant.

 

end

This is not what the powers to be want to see:  The very reliable (and heavily vaccinated country Israel)

finds that the Pfizer jab is only 39% effective in preventing the Delta variant from causing harm to our bodies.

They also found that the virus mutates due to the vaccination process.

 

 

a must see

(zerohedge)

 

Israel Finds Pfizer Jab Only 39% Effective At Stopping Delta Variant

 
FRIDAY, JUL 23, 2021 – 10:17 AM

Over the past month, Israel, the world’s most heavily vaccinated country (with leading mRNA jabs, no less) has seen the number of positive COVID tests has risen by more than 30x as the number of active infections in the country has surpassed 10K.

Meanwhile, the Israeli Health Ministry, which has previously estimated the true efficacy of the Pfizer jab against the delta variant at only 64% (while still more than 90% effective at preventing serious illness and death), just released new data purporting to show that while the Pfizer jab is still 88% effective at preventing serious illness, it’s only 39% effective at preventing infection with delta.

Alex Berenson, a former NYT journalist who has often reported on scientific findings that don’t support the official narrative on masks and vaccines, shared the findings in a tweet, and speculated that the true efficacy in offering protection against the Delta variant might be even lower – perhaps as low as 30%.

Even Bloomberg acknowledged that the Israeli data “could be skewed because of different ways of testing vaccinated groups of people versus those who hadn’t been innoculated, according to the report.

“The heavily skewed exposure patterns in the recent outbreak in Israel, which are limited to specific population sectors and localities,” means the analysis may not be able to take all factors into account, said Ran Balicer, chairman of Israel’s national expert advisory team on Covid-19 response. “We are trying to complement this research approach with additional ones, taking additional personal characteristics into account. But this takes time and larger case numbers.”

BBG also acknowledged that the data “are likely to fuel debate over whether booster shots should be given to people who’ve already been vaccinated – something Pfizer has said it plans to request…”

But Dr. Anthony Fauci, the FDA and the CDC have all said that there’s no evidence yet that a third “booster” shot would be necessary. Israel has already ordered a round of booster shots that it plans to start distributing to the most vulnerable patients Aug. 1.

The Israeli numbers are much lower than other recent studies, including one study recently published in the New England Journal of Medicine, which found that two doses offers 88% protection against the Delta variant causing symptomatic disease, while offering 94% protection against the alpha variant.

But never mind all that: As President Biden said earlier this week, “if you are vaccinated, you are safe.” Unless you’re not.

end

Good for him:  Eric Clapton states that he will not play at shows where COVID 19 vaccination proof is required

(Van Brugen/EpochTimes)

Eric Clapton Says He Won’t Play At Shows Where COVID-19 Vaccination Proof Is Required

 
FRIDAY, JUL 23, 2021 – 05:00 AM

Authored by Isabel van Brugen via The Epoch Times,

Eric Clapton said on Wednesday that he will refuse to perform at venues where proof of vaccination against COVID-19 is required, after British Prime Minister Boris Johnson announced the introduction of vaccine passports from September for certain events and venues.

“Following the PM’s announcement on Monday the 19th of July 2021, I feel honour bound to make an announcement of my own: I wish to say that I will not perform on any stage where there is a discriminated audience present. Unless there is provision made for all people to attend, I reserve the right to cancel the show,” the musician said in a statement shared on architect and film producer Robin Monotti Graziadei’s Telegram account.

Johnson on Monday announced that English nightclubs and venues with large crowds will require evidence of full COVID-19 vaccination upon entry from the end of September. His announcement came on England’s “freedom day,” which saw the lifting of most COVID-19 restrictions.

“If we don’t do it now we’ve got to ask ourselves, when will we ever do it?” Johnson said of ending over a year of lockdown restrictions in the country. “This is the right moment but we’ve got to do it cautiously. We’ve got to remember that this virus is sadly still out there.”

“I would remind everybody that some of life’s most important pleasures and opportunities are likely to be increasingly dependent on vaccination,” Johnson said.

“There are already countries that require you to be double jabbed as a condition of quarantine-free travel, and that list seems likely to grow. And we are also concerned—as they are in other countries—by the continuing risk posed by nightclubs.

His decision to roll out vaccine passes from the UK’s National Health Service for certain venues came after authorities in countries such as Israel and the Netherlands were forced to close nightclubs following large CCP (Chinese Communist Party) virus clusters linked to their reopening.

Clapton previously said he had a “disastrous” experience with the AstraZeneca vaccine, and blamed “propaganda” for pushing the two-dose experimental vaccine on him.

“I took the first jab of AZ [AstraZeneca] and straight away had severe reactions which lasted ten days, I recovered eventually and was told it would be twelve weeks before the second one,” Clapton wrote in a statement in May.

About six weeks later I was offered and took the second AZ shot, but with a little more knowledge of the dangers. Needless to say the reactions were disastrous, my hands and feet were either frozen, numb, or burning, and pretty much useless for two weeks, I feared I would never play again, (I suffer with peripheral neuropathy and should never have gone near the needle). But the propaganda said the vaccine was safe for everyone.”

Last month, Europe’s drug regulator, European Medicines Agency’s (EMA), identified a rare blood condition known as Vaxzevria as a potential side effect of AstraZeneca’s COVID-19 vaccine. It urged those who previously had the capillary leak syndrome against receiving the shot.

In April, the vaccine was associated with very rare and potentially lethal cases of blood clotting that come with a low platelet count.

The World Heath Organization said in March that “the benefits of the AstraZeneca vaccine outweigh its risks and recommends that vaccinations continue.”

According to Rolling Stone magazine, Clapton does not have any shows scheduled in the United Kingdom until May 2022. The musician has upcoming shows in North America this September.

end

Fauci and the fall of Biden

email Robert H to me on Fauci:
 
 
“There is much talk that the pandemic worked in favor of the Democrats to rid America of Trump and in favor of the WEF led by Klaus and their agendas.
Suppose it is so, how long do they keep him out there as blame grows the world over as each day brings new articles that reveal Fauci’ s connections to the virus and the research funded.?
The Democrats believe to fire him or to blame him is an exposure of their agenda. Perhaps the question is whether he has become their Achilles heal as the international community blames him and clamors for his head. After all someone needs to be blamed.
As I written before watch, Fauci will bring down Biden and his crowd as not only the American public turns on them both  but the world community is focusing on Fauci and those protecting  him, and that includes Gates.
 This is now happening very quickly.”

 

Cheers
Robert

end
 
Must see//Dr Martin
 
The  War Crime!! “The Mercenary of Death”
 
 
end
 
 
From my son Mark:
 
fully vaxxed Malta (90%) sees a surge in over 4000% of COVID cases.
 
 
 
 
More vaxxed = more infections, sickness and death.
 
Compare this to places with high Ivermectin use, and it is the exact opposite. Notice that the media doesn’t want to talk about India anymore?
 

 
 
Michael P Senger
⁦‪@MichaelPSenger‬⁩
Malta sees surge of over 4000% in COVID cases despite nearly 90% of its population having been vaccinated.
 
2021-07-23, 1:27 PM
 
 

 

 

 

end

More information leads to troubling questions

Another email from Robert  H to me on the troubling questions of the vaccines.
a good read!!
 

Robert H….
 

“I have zero trust in these so called vaccines, as I have been guarded about the noise. And I doubt most people will ever research to determine the facts but it is clear the narrative is questionable if you look hard enough. And I am greatly troubled that emergency use vaccines not FDA approved are being so widely pushed on people even when groups like WHO say children should not get a jab. It places great doubt on the whole narrative. 

Anyway, some boring reading for some folks reveals disturbing information that begs questioning by learned researchers and stated findings. However you can ponder this if wondering about these jabs whether you have or have not have some. 

First, here’s a quote from an FDA advisory committee report:

“Cells are able to uptake mRNA delivered in an LNP, translate the mRNA into its associated protein, and then express that protein viral antigen(s) on the cell surface to elicit an immune response.”

Source (PDF): 
https://www.fda.gov/media/144452/download 
The quote is on page 10 of the PDF (page 9 by the document numbering). You can find it by searching “surface”.

Here’s another paper accepted for publication, which confirms the amounts of free spike circulating in the blood are tiny and transient, and are seen only in the first 10 days after the first injection (see figure 1):

https://www.deplatformdisease.com/blog/spike-protein-circulating-in-the-vaccinated-what-does-it-mean

Now, here’s the definition of Lupus, from Wikipedia:

“Lupus, technically known as systemic lupus erythematosus, is an autoimmune disease in which the body’s immune system mistakenly attacks healthy tissue in many parts of the body.”

“Tissue” means cells. So are vaccinated people going to develop something resembling Lupus?

 

Oh, and the funniest thing is, one of the treatments used for Lupus is…Hydroxychloroquine!


end

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

 

Michael Every…

Lost In Translation

 
FRIDAY, JUL 23, 2021 – 09:35 AM

By Michael Every of Rabobank

Our ECBeebies’ analysis of the ECB’s strategic review (“Lost in Translation”) notes there was no new stimulus. However, by shifting the focus on inflation reaching the 2% target to “well ahead” of the end of its projection horizon, the ECB emphasized it will be “persistently accommodative”. This may have added some downward bias to the markets’ reaction function to inflation forecasts, with the end-point of the staff projections becoming less indicative for policy. In short, the ECB is a loooong way from raising rates whatever data we see ahead. Which we already knew.

Indeed, as noted yesterday, one could speculate Lagarde may never raise rates, just as Draghi never did. Notably, the last ECB hiking cycle was now a decade ago, with two 25bp moves, rapidly reversed, and more, over 2012-15 following the Eurozone crisis. Moreover, *every* ECB hiking cycle has been followed by reversal: they hiked from late 2005 to July 2008, when the GFC was biting – and had to cut in October; and they hiked from late 1999 to late 2000, as the tech bubble was about to burst – and cut in May 2001. Are key messages being lost in translation somewhere?

On which, at a CNN Town Hall US President Biden was asked: “What is your administration doing to ensure the poor and middle class are not hurt by higher prices? in light of the inflation risks from two multi-trillion dollar packages the White House is pushing. The reply was:

“No, look, here’s the deal. Moody’s today went out, Wall Street firm, not some liberal think-tank, said if we pass the other two things I am trying to get done, we will in fact reduce inflation. Reduce inflation. Reduce inflation. Because we are going to be providing good opportunities and jobs for people who in fact are going to be reinvesting that money back in all the things we are talking about. Driving down prices, not raising prices. And so it, it is, I, I, I sincerely mean this. Prices are up now. And they are up – for example, we’re in a position where you’re trying to build a house, trying to find two-by-fours and lumber. Well guess what? People stopped working. Cutting lumber. They stopped doing it because they, the unemployment was so…..Now all of a sudden there’s this need, because people are coming back and guess what, instead of paying ten cents, you’re paying twenty. You understand what I am saying?” (“Yes,” adds the CNN host; “No,” says I.) “It relates to what in fact is now needed because we’re growing.”

Trying to translate, high inflation is driven by a loss of labor supply, due to unemployment benefits, and as this reverses –yesterday’s surprise spike in weekly initial claims aside– so will inflation. Relatedly, a small business owner was told they needed to raise the minimum wage to $15 to get staff. That’s a worthy goal, and one which would help close labor vs. capital gaps; but SMEs are least-well placed to raise wages without passing those costs on; big corporations can – but generally just offshore or automate as an alternative.

Moreover, this view overlooks just how strained US supply chains are: there is almost no spare capacity on rails or road at present. One report just seen is of another US firm placing a two-week delay on all containers moving into Chicago, which will naturally have to sit in West Coast ports. Moreover, there is as large a problem with *international* supply chains as US demand surges. Yet, according to the president, even more demand won’t make things worse because this money will be “reinvested back in all the things”: so trillions in public spending will be saved by households and pumped back into Treasuries again? That’s how tax cuts for big businesses work, rather than driving investment, but Joe Public’s marginal propensity to consume is different, no? Anyway, Presidents Biden and Erdogan can swap their views on inflation as well as NATO next time they speak.

President Biden also had this to say on Covid-19: “And the question is whether or not we should be in a position where are why can’t the experts say we know that this virus is in fact it’s going to be or excuse we know why the all the drugs approved are not temporarily approved and but permanently approved, but that’s underway too.”

Which, to be fair, is in keeping with how little sense almost everything everyone in authority everywhere has been making in the last 18-months. As examples: US Senator Klobuchar has introduced a Section 230 bill specifically to punish social media if they allow public dissemination of virus “disinformation”; Dr Fauci is accusing Senator Paul of slander; Senator Paul wants a “criminal referral” for Dr Fauci’s actions; China refuses to cooperate with a WHO investigation into Covid-19 origins; and US Democrats just blocked a bill to force the Director of National Intelligence to declassify US investigations into it.

Indeed, on inflation and labor shortages and Covid, the UK now faces empty supermarket shelves, with people warned not to panic buy by the government – naturally producing panic buying? A list of key workers is now being made of those who do not need to self-isolate if ‘pinged’, which is so long that one wonders why they are still bothering to ping at all. But with Covid case numbers about to grow exponentially as restrictions are dropped, some experts warn, and pinging still a thing, pingmageddon looks likely to continue. Not coming soon to a supermarket near you.

So are we inflating or deflating? Reopening or locking down? Singing or pinging? Markets have difficulty translating this noise into a signal, but are erring on the side of caution (today) – while central banks are making it abundantly clear they are doing nothing.

Meanwhile:

Bloomberg purrs how China-US trade is booming despite tariffs and the trade/Cold War backdrop. Something appears to have been lost in translation there too. Covid is hardly normal times, and China’s SHARE of exports to the US, even under the current extreme circumstances, has *declined*. Imagine when things get back to normal – if that is still a thing.

Russia seems to be able to translate some things extremely well. The day after the US and Germany agreed a Nord Stream 2 deal to allow Germany and Russia to get everything they wanted, and Ukraine bupkis, Moscow is suing Kyiv for a slew of alleged offenses, including the downing of MH17(!); and there has been another major cyberattack on Western firms’ websites. (And on South Africa’s main port and rail system by the way, making more of a mess there.)

In China, Evergrande continues to wobble – as it waits to find out which particular de facto public bailout will emerge? Beijing has also announced Didi is facing “unprecedented” punishment for its US IPO, which may include a fine, the suspension of some operations, or the introduction of a state investor. In other words, the $4bn Didi just raised from the US may end being at least partly handed over to Beijing; or as a business loss; or nationalized. Wall Street singularly failed to translate those evident political risks “because markets”.

In Tokyo, the Olympics are about to start with fewer athletes, less sponsorship, no spectators, and no director of the opening ceremony – because of some far-beyond-lost-in-translation Holocaust jokes nobody in Japan was capable of Googling before hiring him for the job.

Happy Friday.

end
 

7. OIL ISSUES

 
end

8 EMERGING MARKET& AUSTRALIA ISSUES 

 

AFGHANISTAN

Taliban control over 90% of Afghanistan border

Taliban Boasts Control Over 90% Of Afghan Border Areas

 
THURSDAY, JUL 22, 2021 – 11:40 PM

The Taliban told Russian media on Friday that it now controls approximately 90% of Afghanistan’s border with neighboring countries as its fight for control against US-trained Afghan national forces continues

Taliban spokesman Zabiullah Mujahid made the claim to Sputnik, saying “The borders of Afghanistan with Tajikistan, Uzbekistan, Turkmenistan, Iran — about 90% of the borders are under our controlThe border with Turkmenistan and the border with Iran are completely under our control. The borders of Pakistan (with the exception of a few small sections) are also under our control.”

 

Map source: Alcis Geographic Information Services

There’s at least some degree of confirmation that the sweeping claim is partially true, given recent videos to come out of the Pakistani border region alongside Reuters reporting that some major crossings have been seized by the Islamist group.

Earlier this month an alarmed Tajikistan government called up 20,000 reserve forces to protect the border from the advancing Taliban, and this week US Joint Chiefs chairman Gen. Mark Milley admitted the Taliban now has “strategic momentum” as the Pentagon enters its final days of the total troop draw down before Biden’s August 31 “complete” departure deadline. 

The top general estimated the Taliban now controls 50% of the geographic country, though this doesn’t necessarily represent the dense population centers. The Taliban in contrast has said this month it possesses 85% of territory.

The Daily Mail summarizes of Milley’s Wednesday comments at the Pentagon:

Milley said the Taliban now held 212 or 213 of the country’s 419 district centers – last month the number was 81.

‘A significant amount of territory has been seized over the course of six, eight, 10 months by the Taliban, so momentum appears to be – strategic momentum appears to be – with the Taliban,’ he said.

He added that the Taliban strategy appeared to be to isolate population centers, such as Kabul.

So the Taliban strategy is likely to keep methodically advancing around major urban centers, waiting for the moment to strike big cities like Kabul after the final and full American troop departure.

The US is however keeping a large security force of 650 or more to protect its sprawling embassy complex in Kabul, but it’s still being debated the degree to which the US would respond in a ‘counter-terror’ capacity once the official mission and occupation is deemed over (ultimately Biden’s symbolic final deadline is Sept.11).

end

THAILAND//DELTA VARIANT/TOYOTA

Toyota shutters factory in Thailand because of the Delta variant

(zerohedge)

 

Here We Go Again: Toyota Shutters Factory In Thailand Due To COVID ‘Delta’ Variant

 
THURSDAY, JUL 22, 2021 – 09:40 PM

Today in “are we going to do the entire lockdown again for the Delta variant despite the entire world having access to vaccines” news…

Toyota says it is halting operations at three of its factories in Thailand as a result of the Delta variant disrupting the supply of automotive parts globally. The stoppage began on July 21 and will last until at least July 28, according to a report from Nikkei

The report says that Toyota “has sourced wire harnesses to connect electrical components from an external factory, which was recently forced to shut down”. 

The annual production capacity of the factories that have been shuttered is 760,000 units. They produced only 440,000 units in 2020 and Thailand is the 3rd largest overseas hub for Toyota, after China and the U.S.

The shuttered factories are mainly responsible for producing the Corolla and the company’s Hilux pickup. It is the second time the company’s Thailand factories have been closed down, with the first being in March 2020 at the onset of the pandemic.

The Delta variant is “overwhelming” southeast Asia according to the report and the Thai government has “resorted to a business lockdown of affected provinces to contain the situation”. 

Similarly, Malaysia also went into a nationwide lockdown in June, forcing auto factories there to close. “Indonesia has now overtaken India as the Asian epicenter of the pandemic,” Nikkei concluded. 

END

 

end

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

Euro/USA 1.1761 DOWN .0011 /EUROPE BOURSES /ALL GREEN 

USA/ YEN 110.54  UP  0.401 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3728  DOWN   0.0044  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2573  UP .00009  (  CDN DOLLAR 9 BASIS PT FALL)

 

Early FRIDAY morning in Europe, the Euro IS DOWN BY 11 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1761 Last night Shanghai COMPOSITE CLOSED DOWN 24.54 PTS OR 0.68%

 

//Hang Sang CLOSED DOWN 401.86 PTS OR 1.45%

 

/AUSTRALIA CLOSED UP 0.16% // EUROPEAN BOURSES OPENED ALL GREEN 

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL GREEN 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 401.87 PTS OR 1.45% 

 

/SHANGHAI CLOSED DOWN 24.54  PTS OR 0.68% 

 

Australia BOURSE CLOSED UP 0.16%

Nikkei (Japan) CLOSED 

 

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1795.40

silver:$25.13-

Early FRIDAY morning USA 10 year bond yr: 1.297% !!! UP 2 IN POINTS from THURSDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.937 UP 2  IN BASIS POINTS from THURSDAY night.

USA dollar index early FRIDAY morning: 92.95 UP 16  CENT(S) from THURSDAY’s close.

This ends early morning numbers FRIDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  FRIDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.19% DOWN 1  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.016%  UP 0/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.28%//  UP 5  in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.63  DOWN 2   points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 35 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.42% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.07% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR  FRIDAY

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

Euro/USA 1.1764  DOWN    0.0009 or 9 basis points

USA/Japan: 110.51  UP .366 OR YEN DOWN 37  basis points/

Great Britain/USA 1.3754 DOWN .0019 DOWN 19   BASIS POINTS)

Canadian dollar DOWN 10 basis points to 1.2574

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED DOWN).. 6.4814 

 

THE USA/YUAN OFFSHORE:    (YUAN DOWN)..6.4802

TURKISH LIRA:  8.56  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.016%

Your closing 10 yr US bond yield UP 1 IN basis points from THURSDAY at 1.289 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.928 UP 1 in basis points on the day

 

Your closing USA dollar index, 92.97  UP 15  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 59.28 PTS OR 0.85% 

 

German Dax :  CLOSED UP 154.75 PTS OR 1.00% 

 

Paris CAC CLOSED UP 87.21  PTS OR  1.35% 

 

Spain IBEX CLOSED  UP 95.40  PTS OR  1.11%

Italian MIB: CLOSED UP 319.70 PTS OR 1.29% 

 

WTI Oil price; 71.77 12:00  PM  EST

Brent Oil: 73.79 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    73.75  THE CROSS  HIGHER BY 0.10 RUBLES/DOLLAR (RUBLE LOWER BY 10 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.42 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 : 72.03//

BRENT :  74.07

USA 10 YR BOND YIELD: … 1.279..DOWN 0 basis points…

USA 30 YR BOND YIELD: 1.923  UP 1 basis points..

EURO/USA 1.1774 UP 0.0002   ( 2 BASIS POINTS)

USA/JAPANESE YEN:110.54 UP .399 ( YEN DOWN 40 BASIS POINTS/..

USA DOLLAR INDEX: 92.90  UP 8  cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3749  DOWN 23  POINTS

the Turkish lira close: 8.56  UP 1 BASIS PTS

the Russian rouble 73.73   DOWN 0.05 Roubles against the uSA dollar. (DOWN 5 BASIS POINTS)

Canadian dollar:  1.2560 UP 4 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.417%

The Dow closed UP 238.20 POINTS OR 0.68%

NASDAQ closed UP 171.63 POINTS OR 1.15%

VOLATILITY INDEX:  17.25 CLOSED DOWN  0.44

LIBOR 3 MONTH DURATION: 0.125%//libor dropping like a stone

USA trading day in Graph Form

a)Market trading/this AFTERNOON/USA/

 
ii) Market data
Service PMI (70% of GDP) plunges unexpectedly to 5 month lows
(zerohedge)

US Services PMI Plunges Unexpectedly To 5-Month Lows As Business Outlook Slumps

 
FRIDAY, JUL 23, 2021 – 09:53 AM

After US Services PMI (and ISM) unexpectedly plunged from record highs in June, analysts expected the plunge to stop in preliminary July data (despite an ongoing downtrend in ‘hard’ economic data performance)… they were wrong.

While US Manufacturing picked up modestly from 62.1 to 63.1 (better than the 62.0 expected), US Services tumbled further to 59.8 from 64.6 (well below the 64.5 expected).

Source: Bloomberg

That is the weakest Services print since February.

The drop in Services weighed heavily on the US Composite which dropped to 4-month lows.

Commenting on the PMI data, Chris Williamson, Chief Business Economist at IHS Markit, said:

The provisional PMI data for July point to the pace of economic growth slowing for a second successive month, though importantly this cooling has followed an unprecedented growth spurt in May. Some moderation of service sector growth in particular was always on the cards after the initial reopening of the economy, and importantly we’re now seeing nicely-balanced strong growth across both manufacturing and services.

“While the second quarter may therefore represent a peaking in the pace of economic growth according to the PMI, the third quarter is still looking encouragingly strong.

“Short-term capacity issues remain a concern, constraining output in many manufacturing and service sector companies while simultaneously pushing prices higher as demand exceeds supply. However, we’re already seeing signs of inflationary pressures peaking, with both input cost and selling price gauges falling for a second month in July, albeit remaining elevated.

Inflationary pressures and supply constraints – both in terms of labour and materials shortages – nevertheless remain major sources of uncertainty among businesses, as does the delta variant, all of which has pushed business optimism about the year ahead to the lowest seen so far this year. The concern is this drop in confidence could feed through to reduced spending, investment and hiring, adding to the possibility that growth could slow further in coming months.”

For context, the US Composite index is now running below that of Europe’s…

Source: Bloomberg

iii) Important USA Economic Stories

Home prices rising at the fastest pace on record

(zerohedge)

Global Home Prices Are Rising At The Fastest Pace On Record

 
THURSDAY, JUL 22, 2021 – 06:20 PM

Those looking for signs of a new housing bubble need look no further than today’s existing home sales report which showed that median prices of existing homes in the US soared 24% to a record $363,300.

And while banks have been quick to reprise their roles as the “Ben Bernankes” of this neverending business cycle, trying to counter growing speculation that the US housing market is once again in a giant bubble, with both Goldman…

… and Bank of America telling readers not to believe their lying eyes…

… the reality is that not only is it a bubble in the US, but it is also the biggest housing bubble in the entire world!

As BMO’s Doug Porter writes, global real home prices are rising at their fastest pace in 45 years of records. According to data compiled by the Dallas Fed, prices after inflation are now up more than 6% y/y, surpassing the prior peaks in 2005 and 1989.

The results are weighted by GDP in the 24 countries covered, so naturally the U.S. leads the results. But the index covers the entire G7, as well as nations as diverse as Korea, Israel, South Africa, New Zealand and Slovenia.

Among these nations, who is the frothiest of them all? Why, none other than Canada, where real prices are now up by more than 20% y/y (topping even New Zealand by this metric), although today’s NAR existing home sale price update likely means that the US is once again in pole position when it comes to the biggest asset bubble ever.

And speaking of Canada, it may have lost the first place in the world’s biggest housing bubble, that doesn’t mean it can’t regain it and as Porter adds “it’s no surprise that residential mortgage growth is gathering steam, now running at 8.3% y/y in May, the most since 2010.” The fastest rate in the past three decades is 14% in 2007, but with the 3-month annualized rate now running at just under 12%, this milestone could be tested if house prices continue to rip higher and sales remain strong.

USA COVID//VACCINE UPDATE

Huge numbers of Delta variant is causing Los Angeles restaurants to close and many of afflicted where double vaccinated.

(zerohedge)

LA Restaurants Voluntarily Closing Over COVID-19 Breakthrough Cases, Including Fully Vaccinated Staff

 
FRIDAY, JUL 23, 2021 – 12:45 PM

Several restaurants in Los Angeles are voluntarily closing due to surging COVID-19 cases and hospitalizations, while at the same time struggling to find enough staff to meet the demand for dine-in meals.

Village Idiot in Fairfax

According to CBS LA, “they are also being hit disproportionately hard by the rise in new infections, especially among people who are unvaccinated.”

In one instance, Village Idiot LA announced a temporary closure after a fully vaccinated staff member tested positive for the virus.

We apologize for the inconvenience, but unfortunately we’ve had a breakthrough case of Covid-19 with one of our fully vaccinated staff members. We will be closed for the next few days until all of our employees are tested,” reads an Instagram post. “Once we feel secure that it’s safe for us to resume serving you our doors will reopen.”

Meanwhile, West Hollywood’s Bottega Louie announced that they would be closing for a few days “out of an abundance of caution” due to “increasing Covid-19 cases.”

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Bottega Louie (@bottegalouie)

California lifted all coronavirus restrictions on June 15 for the fully vaccinated, however as the Sacramento Bee notes, “Even with nearly 21 million residents now fully vaccinated, California is recording its highest positivity rate since mid-February, when only about 2 million were vaccinated.

Maybe just give it two more weeks?

END 

 
USA//FOOD SHORTAGES//INFLATION WATCH
 
Jeep maker Stellantis, sees rising prices coming from all directions. This inflation is not transitory
(zerohedge) 

 

“I See The Inflationary Pressure Very Clearly”: Stellantis CEO Says Rising Prices Coming “From Many Different Areas”

 
FRIDAY, JUL 23, 2021 – 08:14 AM

The “transitory” inflation that the Fed is certain of – yet has proclaimed repeatedly to not understand (including former Fed Chair Janet Yellen once calling inflation a “mystery”) seems to be well understood not only by the consumers who are forking over more cash for their everyday products and services, but also to the companies who produce these products. 

One of those companies is Jeep maker Stellantis. The company’s Chief Executive Officer Carlos Tavares offered a warning this week that the company is under pressure, not only from the ongoing global semiconductor shortage that we have been covering for the last 12 months, but also from “rising raw material prices”, according to Bloomberg.

In fact, in a webinar organized by the Detroit-based Automotive Press Association, his exact words were: “I see the inflationary pressure very clearly. I see inflation coming from many different areas.”

This real-world example of how prices are starting to run amok is referred to as a “disconnect” between the view of some economists who say that price increases aren’t structural, Bloomberg notes. This stands at odds with what Tavares says he is experiencing firsthand at his company. 

“Transaction prices are rising and lacking supply of components like semiconductors is causing disruptions and cost increases,” Bloomberg notes Tavares as saying.

Stellantis is the latest in a long line of manufacturers that are starting to make it clear that inflation is rearing its head. Mercedes has also cited a rise in the cost of raw materials. 

Recall, just days ago we wrote about how paint company PPG, who supplies to major manufacturers like Ford and Boeing, is raising the prices of its paint and coatings solely as a result of “inflation in raw material and logistics costs”.

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

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

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

end
 
Whirlpool CEO says company is about to  run face first onto a huge $1 billion inflation costs.

Whirlpool CEO Says Company Is About To Run Face-First Into $1 Billion In Inflation Costs

 
FRIDAY, JUL 23, 2021 – 02:10 PM

Whirlpool is the latest in a growing line of companies publicly stating that inflation has been a headwind for their business. Whirlpool CEO Marc Bitzer said yesterday that his company is going to run face first into $1 billion worth of inflation this year. 

“We have raised prices across the globe and we feel we are in a pretty good position to mitigate the effects of raw materials,” Bitzer said yesterday, according to Yahoo.

He noted that “peak increases” due to inflation would be materializing in the current quarter. 

Despite the headwind, Whirlpool is aiming to try and not raise prices with hopes that inflation could subside heading into 2022. Good luck with that.

Bitzer continued: “Right now we feel like we are in a good position to deal with what we saw coming. We have been pretty predictable in terms of raw materials and pretty stable in terms of our outlook.”

He also commented that “we don’t feel good, we are letting consumers down,” when asked about issues the company was having meeting demand. 

Bitzer concluded: “They need new appliances because for many people right now they have been using appliances a lot more in the last year than any time before. You have high consumption. People need to replace certain appliances and we of course, feel really bad about having so many consumers waiting for our appliances.”

 “If current trends persist, there will be a carryover of inflation to next year. At the appropriate point, we will quantify how much of a carryover will be there.”

Recall, we noted just days ago that automaker Stellantis’ CEO said he could see inflationary pressure “very clearly”. His exact words were: “I see the inflationary pressure very clearly. I see inflation coming from many different areas.”

Days before that we wrote about how paint company PPG, who supplies to major manufacturers like Ford and Boeing, is raising the prices of its paint and coatings solely as a result of “inflation in raw material and logistics costs”.

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

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

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

END

Stanley Druckenmiller……

“This Is The Biggest Bubble I’ve Seen In My Career” – Dems’ Infrastructure Spending Could Lead To Devastating Crash, Druck Warns

 
FRIDAY, JUL 23, 2021 – 02:50 PM

This isn’t the first time billionaire investor Stanley Druckenmiller has warned that US markets are caught up in a “raging mania” fostered by the trillions of dollars in government spending. Druck, an acolyte of George Soros known for his macro investing prowess (even as he complains that contemporary Fed-backstopped markets “make no sense”) is a frequent guest on CNBC. But on Friday morning, he made a brief appearance on MSNBC’s Morning Show with Stephanie Ruhle, who seemed ill-equipped to respond to Druck’s arguments about why the Dems’ multi-trillion two-part infrastructure plan will end up hurting America’s poorest citizens.

Druckenmiller

As Druck explains, the “V-shaped” economic recovery has been “the sharpest recovery in history,” noting that it took 10 years for the American economy to achieve the same gains following the start of the Great Depression.

The problem is that the nearly $6 trillion allocated by Congress to combat the economic impact of COVID has been spent after the economy already finished recovering. The accelerating pace of inflation, and inability of certain businesses to hire lower-wage workers, are but byproducts of this.

Source: Committee for a Responsible Federal Budget

Moving on, Druck pointed out that the biggest economic crises of the last 100 years have largely been caused by asset bubbles and inflation. “Inflation is a tax the poor can’t afford or avoid,” Druck added.

Any further stimulus spending is intended to fix a problem that, in Druck’s words, “doesn’t exist anymore.” He added: “If I was Darth Vader and I wanted to destroy the US economy, I would do aggressive spending in the middle of an already hot economy.”

“You usually get a bubble out of that, and you get inflation of of that. Frankly, we now have both. This is the biggest bubble I’ve seen in my career.”

And it’s not just stocks: Druck pointed to the state of crypto and housing markets.

“What are we going to get out of this? You’re going to get a sugar high, the higher inflation, then an economic bust,” Druck warned.

When Druck added that he would prefer Dems postpone their infrastructure spending plans (even though he said he supports many of the provisions of the Demcoratic plan, including improving high-speed infrastructure access in rurual areas), Ruhle interjected. Poor people don’t care about bitcoin crashing, since they don’t own that much bitcoin (or stocks) anyway. But the infrastructure plan will help all Americans, especially those with the fewest resources, Ruhle argued.

“I dont think we need to do anything, we need to take a step back take a breath and see where we are…I think any net spending is a problem. I love a lot of stuff in the infrastructure plan particularly the investments int he digital infrastrucutre. There’s a lot of other stuff im okay with.”

First of all, Druck argued that the growing retail exposure to equities means a market crash will impact main street even more quickly this time around.  And even if they own no financial securities or crypto assets, they will still be impacted by the economic declines, as Druck explains: “It’s going to cause a financial crisis, it’s going to cause inflation and nothing is going to hurt the poor more than that.”

iv) Swamp commentaries/

 

END

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

ECB pledges low rates for longer as virus casts shadow over growth
The ECB’s previous guidance said it would keep interest rates at current levels until it was happy that inflation expectations were converging to its target, and stop buying bonds for its quantitative easing programme shortly before that. The shift in language was prompted by the ECB’s new strategy, unveiled earlier this month, under which inflation may be allowed temporarily to exceed its target when “especially forceful or persistent” monetary support is needed….
 
Ugly US economic data appeared on Thursday.
 
Initial Jobless Claims jumped to 419k from an upwardly (negatively) revised 368k from 360k.  350k was consensus.  Continuing Claims jumped to 3.236m from and upwardly (negatively) revised 3.265m (from 3.241m); 3.1m was consensus.
 
Surprise gain in jobless claims shows the U.S. labor market churn https://t.co/uNAI79QCbS
 
@bespokeinvest: The most recent continuing claims data through the first week of July finally showed the effects of state withdrawals from pandemic era programs. Total claims dropped by 1.27 million with the bulk of the decline from PUA and PEUC programs: https://t.co/w2NMZSfPxe
 
The very accurate and underrated Chicago Fed National Activity Index declined to 0.09 in June from a downwardly revised 0.26 (from 0.29) in May. An increase to 0.30 for June was consensus.
 
June Existing Home Sales rose to 5.86m from a revised 5.78m (from 5.8m) in May.  5.9m was expected.  The median selling price was up 23.4% to $363k.  ‘Investors’ were 14% of buyers vs 9% in May.
 
We mentioned a few days ago that US economic data under Biden is consistently revised negatively, the opposite of what occurred for DJT.  This chicanery makes the economy look stronger than it really is.
London Staff Want Pay Rises to Return to Office, Survey Says
Just 17% now say they actively want a full-time return to the office… However, cash would entice 43% of employees back into the office. In London, that equates to an average of 5,100 pounds ($6,950)…  https://www.bloomberg.com/news/articles/2021-07-20/london-staff-want-big-pay-rises-to-return-to-office-survey-says
 
Energy prices soared on Thursday.
 
Natural Gas Hits 31-Month U.S. High as Heat Adds to Supply Worry
 
Coffee futures soar 10%, score biggest 1-day gain in over 7 years
Drought and frost threaten coffee crops in Brazil, the world’s largest coffee producer…
 
From coal to cars, Chinese floods tangle supply chains https://t.co/jkWi7yM5YR
 
An apparent DNS problem reportedly scuttled over 23k website globally yesterday.  Vanguard, Fidelity, Schwab, Bank of America, Chase, UPS, Capital One, Delta, FedEx, DraftKings, Airbnb, and Home Depot reported that their websites had “DNS issues”.  https://livemap.pingdom.com/
 
The internet outage that took down several major websites seems to be fixed
• Several major websites briefly went down in a widespread outage linked to content distribution network Akamai.
• Akamai said it fixed the issue, and the affected websites were back online by early afternoon..
Hollywood leaving California for New Mexico tax incentives
 
@WSJopinion: A troubling pattern is emerging in President Biden’s foreign policy: Officials talk tough—then follow up with diplomacy that amounts to little. https://t.co/F4hbyzI0rk
 
U.S. urges Ukraine to stay quiet on Russian pipeline – The Biden administration is asking an unhappy Ukraine not to make waves, as it nears Russia-Germany pipeline agreement.
    Dem Senator Sheldon Whitehouse (@SenWhitehouse): Everything about this (Ukraine story) is bad.  
 
@ggreenwald: Even Biden’s most devoted Senate Democrat loyalist are starting to express serious bewilderment and concern about why the President seems so bizarrely subservient to Russian interests…
 
When even Dems are troubled with The Big Guy’s appeasement of Putin, you know there is a problem.  “What does Putin have on Trump Biden?”   “10% for The Big Guy”?
 
China Rejects WHO Proposal for Second Phase of Covid-19 Origins Probe
Top Chinese health official said plan to audit laboratories and markets in Wuhan ‘violated science’
 
“Weakest We’ve Ever Witnessed”: Morgan Stanley Warns Crashing Breadth Will Result In “Material Correction” – there are more stocks making new 52-week lows than highs when looking at the broad universe of stocks in the US market…
 
The Fed balance sheet grew $38.879B, MBS +$19.815B.  https://www.federalreserve.gov/releases/h41/current/
 
Intel reported EPS of 1.28 (1.07 exp) and revenue of $18.58B ($17.8B exp).  Intel lowered Q3 adjusted revenue guidance to $18.2B from $18.27B but sees 2021 revenue at $73.5B, up from $72.5B.  After an initial spike higher on the headline data, Intel tumbled in after-hour trading.  Selling after a big-tech reports results is a probable dynamic in coming sessions.
 
‘The workforce that’s returning is not the same’: As employees return to offices, they bring new addictions – The isolation and stress of the past year spurred alcohol and drug use… about 31% of respondents who use alcohol said they’ve been drinking more since the pandemic started, and, of people who use drugs, about 29% said they’ve been using more… (At least DJT is gone!)
 
We stated a few months ago that the ruling elite, probably to get rid of Trump, thought that they could crash the US economy and resurrect it relatively quickly and painlessly due to the success they had after financial calamities in 1987, 1989, 1991, 1994, 1997, 1998, 2001, 2008, 2011 and Q4 2018.  However, those were FINANCIAL crises.  For the 9/11 crisis, businesses were shut down briefly around NYC.  By scuttling the REAL ECONOMY, solons exacted severe damage that in many cases is long-lasting or permanent.  As many pundits have opined, a historic transfer of wealth from small and medium-sized businesses to large corporations occurred.  It will take more than one cycle to remedy these problems.
 
Today – Traders will keep buying dips and wise guys will do the same until Fangs report results next week.  Also, next week, the Fed meets.  We originally thought that some type of top might appear this week, but we were amiss in the projection because Fangs didn’t report this week and the known universe wants to be long for Fang earnings, the FOMC Communique and Powell’s ensuing press conference.
 
Today is a summer Friday.  Markets will be thin and get thinner as the session progresses.  Bulls and wise guys want to mark stuff up.  ESUs are +13.00; NQUs are +62.50 at 21:00 ET on Friday rally expectations.  
 
Expected earnings: AXP 1.62, SLB .26, HON 1.94, ROP 3.67, KMB 1.70
 
Expected economic data: July Markit US Mfg PMI 62, Services 64.5
 
S&P 500 Index 50-day MA: 4246; 100-day MA: 4143; 150-day MA: 4032; 200-day MA: 3905 
DJIA 50-day MA: 34,391; 100-day MA: 33,833; 150-day MA: 32,852; 200-day MA: 31,865
 
S&P 500 Index – Trender trading model and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 3745.57 triggers a sell signal
Weekly: Trender is positive; MACD is negative – a close below 4166.02 triggers a sell signal
Daily: Trender and MACD are negative – a close above 4426.97 triggers a buy signal
Hourly: Trender and MACD are positive – a close below 4343.36 triggers a sell signal
 
Why Did Georgia Mail Out 7 Million Ballots in 2020 Election When the State Only Had 5.6 Million Registered Voters? – Has anyone asked Georgia Secretary of State Brad Raffensperger…?
 
Pennsylvania Decertifies County’s Voting System, Cites Violation of Election Code (MSM mum)
 
Remember when they uncovered the truck in PA with 160,000 or more ballots coming from NY. Bill Barr personally shut down the investigation.  Credit: @T_S_P_O_O_K_Y (ex-DoD Intel operative)
 
Biden’s carefully crafted and staged Townhall on CNN Wednesday night was an unmitigated disaster.
 
Daily Mail (State media ignores): Are You OK, Mr. President – ‘The experts say we know that this virus is, in fact, uh, um, uh, it’s going to be, or excuse me’: Biden loses his thoughts on vaccines, flubs answer on foreign policy and falsely tells town hall you WON’T get COVID if you have the shot
    When speaking about national security, Biden also lost his words when declaring his qualifications to speak on the matter… 
 
Biden tells crowd: ‘I don’t care if you think I’m Satan reincarnated. The fact is you can’t look at that television and say nothing happened on the 6th.’ 
 
@Breaking911: PRES. BIDEN: “The idea that the Democrats or the Biden is hiding people and sucking the blood of children, no I’m serious, that’s the — Now you may not like me and that’s your right..”
 
@RNCResearch: Here’s Joe Biden’s incoherent town hall in just 49 seconds.
 
@FinnertyUSA: Joe Biden told the American people that you can’t get #coronavirus if you’re fully vaccinated… something tells me this might be Joe’s last Town Hall for a while
    @DonaldJTrumpJr: Is the White House planning on having this removed from social media for spreading misinformation? There are plenty of examples of vaccinated people who have still gotten COVID! FOLLOW THE SCIENCE!!!!
 
Biden ‘rambles’ whether or not there’s ‘a man on the moon’ (to answer vaccine question!)
 
CNN Town Hall: More Proof That Biden Is Unfit to Be President
He continues to spout nonsense, delusions, and lies.
    Incomprehensible ramblings from Biden have practically become the norm in the last six months. But don’t expect our dishonest corporate media to utter a sound about our stumbling and confused president. At this point their only job is to protect him and make him appear as coherent as possible, a task that is becoming more challenging by the day…
     Biden’s behavior and antics are becoming more alarming by the day. We have known for a while that Biden was unfit to be president. Last night confirmed it…  https://spectator.org/cnn-town-hall-biden/
 
@jeneps: What the Biden CNN town hall looks like from the back of the auditorium: (miniscule crowd)
 
He’s no sell-out: Biden speaks to half empty room at CNN town hall https://trib.al/eUtc5gC (81m votes?)
 
@mirandadevine: Sparse coverage from the WaPo-NYT-CNN axis tells you this didn’t go well.
 
CNN’s Biden town hall loses out to Fox News, MSNBC in cable ratings https://trib.al/Etin0ZO
 
Biden defends filibuster months after slamming it as ‘relic of the Jim Crow era’
Biden said that protecting the filibuster is not more important than expanding voting rights
 
@ColumbiaBugle: Tucker Carlson with an update on his Investigation into whether the FBI was Involved at all in the January 6th Protest.  Tucker Interviews a Former DEA Agent who says he was invited by an FBI informant to go the Capitol that day & was encouraged by this man to go into The Capitol.  Tucker Carlson: “It would be interesting and useful I think to the continuation of our democracy if people with power in Congress would do something about this. It’s clearly a political prosecution, there are people sitting in jail for political reasons.”  https://twitter.com/ColumbiaBugle/status/1418371977723666432
 
Democrat Who Featured in Infamous ‘Maskless Flight’ Pic Calls for “Universal Mask-Wearing”
Democrat Texas state Rep. Donna Howard, who appeared in the now infamous photo of maskless Dem lawmakers on a private jet, faced ridicule after she called for “universal mask-wearing.”
   Howard was one of 60 Texas Democrats who boarded a jet to Washington, D.C., to skip out on a vote on Texas’ election reform bill. A photo of the plane cabin shows Howard and several other passengers not wearing masks… (Liberal privilege and state media complicity on display, once again)
 
Double standard? Infected Texas Democrat truants accorded medical privacy denied Republicans
It’s a sharp contrast to the treatment many Republicans and conservatives received over the past year, when the positive COVID tests of multiple GOP members were covered aggressively by the media…
 
Whitlock: Maria Taylor, the 1965 Moynihan Report, the black matriarchy, and Cersei Lannister explain ESPN’s game of thrones
    The Moynihan Report was a direct call for investment in the black man. In chapter four, the report specifically addressed the problem of a black matriarchal culture. The report stated: “A fundamental fact of Negro American family life is the often reversed roles of husband and wife…. Negro husbands have unusually low power.”… Two months later, the media demonized the Moynihan Report as racist, and Johnson disavowed it and scrapped it from the war on poverty and Great Society initiatives…
    The Moynihan Report called for investment in the black man and the restoration of the black family. Great Society programs focused on investment in women and couldn’t care less about traditional family structure… Moynihan diagnosed a cancer destroying black America — the emasculation and marginalization of the black man. The left rejected his diagnosis, framed it as racist, offered the black woman 20 pieces of silver, and metastasized the cancer by doubling down on black matriarchy…
 
@barnes_law: Obama’s choice in his 2nd term to seek out racially divisive policies to substitute for his failure to deliver on his promises to working class black voters caused the collapse of race relations in America. Hasn’t healed yet, as Democrats continue to double down on it.
 
WH’s Jen Psaki grilled by reporters about the sale of Hunter Biden’s artwork https://trib.al/Nq1hb7g
 
The Biden Way becomes The Chicago Way, so shut up and take it, America. – John Kass
    
Hunter Biden… who used his father’s political clout to leverage big paydays as an international business tycoon in Ukraine and China, now has a side hustle: He’s a budding artist…    
    There a difference between the corporate and smiley Delaware Way and the Chicago Way?  Yes. A big difference. And it’s all about the open humiliation of the people.  The Delaware Way is all about putting a positive spin on bi-partisan political corruption to explain how things are done…
    Under The Chicago Way the people understand the rules. They know the political class lies to them. And the political class knows that they know…
    And the acquiescence of the people, whether by tugging on a forelock or the doffing of a cap to political lords– whether to a crooked alderman or to a president with a son on a side hustle–isn’t what America was supposed to be about. It is right out of the Soviet dominated Eastern Bloc of old…
    It’s not just the Hunter Biden art saga, but the entire operation. What of the Hunter Biden laptop story that the New York Post broke before the November election, and all those emails about Hunter’s business deals and Biden Inc? All of that was suppressed by the Beltway media… and by Big Tech as part of a larger scheme to protect Joe Biden and the establishment he represented and help them win the presidential election…
    Media and Big Tech in service of the Bidens ignored the Wuhan Lab leak story and mocked as conspiracy theorists those who suggested otherwise. Establishment media also pushed that Trump Russia collusion lie day after day after day, year after year and applauded themselves for their Pulitzers…
 
Reporters who went from mainstream journalists to outspoken progressives – Former reporters from the New York Times, CBS, CNN, TIME, NBC and elsewhere have become outspoken liberals
 
‘Not enough seats’: Buses leaving Texas border town packed with illegal migrants https://trib.al/FBjMp5S

END

Let us close out Friday’s commentary with this great video with Greg Hunter. This is a must must view

and he talks about Ivermectin and the danger of the vaccines!!

Vax Attacks, Clapton Awakens, Red Hot Inflation

By Greg Hunter’s USAWatchdog.com (WNW 489 7.23.21)

The propaganda and vax attacks to scare or coerce people to take the so-called “jab” are reaching new levels of lies and threats. Make no mistake, the mainstream propaganda media and government health experts will not even tell you this is, in fact, an experimental human drug trial to test a gene therapy CV19 vaccine. They will not tell you this is so dangerous that the Vax makers have zero liability if people get killed or injured. This mRNA is a new treatment never tried before and is rolling out on a reckless scale never before seen in human history. Why is the government telling you to take this jab?  The White house, this week, said this is “becoming a pandemic of the unvaccinated.” This statement is being made while many fully vaccinated White House staff members are fighting new CV19 infections.  Of course, this is being downplayed and covered up–bad optic.  Also, new data has come out that in one of the most vaccinated countries on the planet, Israel, 84% of the new cases are with fully vaccinated people. There is also no mention of natural immunity which, according to John Hopkins Dr. Marty Makary, now stands at 50%. Natural immunity gives people a near zero percent chance of getting CV19 again, according to a new study from USC’s school of medicine. Lies by omission and outright lies are coming from everywhere to get the public to take the jab. This is not about medicine.

It looks like rock legend Eric Clapton is no longer down with mass vaccinations. Clapton got fully vaxed a few months ago. He got so ill that he thought he would never play his guitar again. Now, Clapton says he will not play any venues where fans are required to be vaccinated. Is this liberals starting to wake up to the fact they have been poisoned and screwed with this “Plandemic”? You might remember that a few weeks ago, Internet data analyst Clif High said on USAW, when people figure out that they have been poisoned by the CV19 vax, they would strike back and be angry. A much higher percentage of liberals, according to Clif High, have fallen for the experimental gene therapy drug trial. He says 19 out of 20 Democrats have taken or will take the jab.

The Fed keeps telling us that inflation is going to be transitory, and things will fall in price and go back to normal soon. Nobody is buying this in the real world where people are watching their dollars fall in value and are paying more for just about everything. In simple terms, the dollar is tanking. Maybe this is why JP Morgan is the first big bank (with many to follow) that is putting high-net-worth clients into crypto currencies. Bo Polny says this is all part of a “Jubilee year which began in September of last year and ends in early September of this year.” Polny says, “Expect to see in the next four to five weeks a fall of the dollar, the world’s reserve currency. This could start as early as next week causing a run into tangible asset that include gold, silver and crypto currencies like Bitcoin. All hell is about to break loose on evil.”

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up 7.9.21.

 

Vax Attacks, Clapton Awakens, Red Hot Inflation

Legendary financial and geopolitical cycle analyst Martin Armstrong will be the guest for the “Saturday Night Post.” We will get his take on where we are on the economy and plan of the globalists to vax the world.

 
end

See you Monday night!

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