AUGUST 26/GOLD UP $6.10 TO $1793.45//SILVER DOWN 22 CENTS TO $23.56//GOLD STANDING AT THE COMEX UP TO 81.6 TONNES//SILVER STANDING UP TO 10.92 MILLION OZ//COVID UPDATES/VACCINE UPDATES/IVERMECTIN UPDATES//BOMB BLAST AT KABUL AIRPORT//TALIBAN UPDATES//AFGHANISTAN//UK UPDATES//12 MILLION AMERICANS STILL ON THE DOLE//GDP 2ND QUARTER BELOW ESTIMATES COMING IN AT 6.6%//SWAMP STORIES FOR YOU TONIGHT!!//TOM LUONGO A MUST READ….

 

GOLD:$1793.45  UP $6.10   The quote is London spot price

Silver:$23.56  DOWN 22  CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1791.95 LONDON SPOT  4:30 pm

ii)SILVER:  $23.54//LONDON SPOT  4:30 pm

We are now in the midst of options expiry week.  The comex options expire tonight and the oTC/LBMA options expire on the 31th of August.  Gold and silver prices will be subdued to this crooked operation.  The spreading operation is now in full swing.
 

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

 

 

PLATINUM  $982.08 DOWN  $17.05

PALLADIUM: $2394.34  down $28.80  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 300/333

EXCHANGE: COMEX
CONTRACT: AUGUST 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,788.200000000 USD
INTENT DATE: 08/25/2021 DELIVERY DATE: 08/27/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
365 H ED&F MAN CAPITA 4
435 H SCOTIA CAPITAL 27
661 C JP MORGAN 300
709 C BARCLAYS 323
737 C ADVANTAGE 3
905 C ADM 3 4
991 H CME 2
____________________________________________________________________________________________

TOTAL: 333 333
MONTH TO DATE: 26,196

 

issued:  00

Goldman Sachs stopped: 0

 

NUMBER OF NOTICES FILED TODAY FOR  AUGUST. CONTRACT: 333 NOTICE(S) FOR 33300 OZ  (1.0357 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  26,196 FOR 2,619,600 OZ  (81.480 TONNES)

 

SILVER//AUG CONTRACT

14 NOTICE(S) FILED TODAY FOR 70,000   OZ/

total number of notices filed so far this month 2183  :  for 10,915,000  oz

 

BITCOIN MORNING QUOTE  $46,998 DOWN 1830 DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$46,935  DOWN 1893  DOLLARS 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD UP UP $6.10 AND NO PHYSICAL TO BE FOUND ANYWHERE:

ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A LOSS OF 2.91 TONNES OF GOLD AND THISS

GOLD IS HEADING FOR SPROTT PHYS GOLD FUND

 

THEY REALIZE THAT THERE IS NO GOLD AT THE GLD AND THEY ARE SWITCHING TO PHYSICAL GOLD AT SPROTT(phys)  

 

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  1001.72 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 22 CENTS

NO CHANGES IN SILVER INVENTORY AT THE SLV/”

 

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

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: 

 

545.878  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 167.69 UP $0.21 OR 0.12%

XXXXXXXXXXXXX

SLV closing price NYSE 21.85 DOWN $.24 OR 1.09%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI ROSE BY A GOOD 955 CONTRACTS TO 148,892, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE GOOD SIZED LOSS IN OI OCCURRED WITH OUR  $0.11 LOSS IN SILVER PRICING AT THE COMEX  ON WEDNESDAY. 
 
 

OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.11)

BUT  THEY WERE UNSUCCESFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A TINY NET LOSS IN OUR TWO EXCHANGES EQUAL TO 165 CONTRACTS OR 0.865 MILLION OZ.  WE ALSO HAD i) HUGE BANKER SHORT COVERING AS THEY ARE VERY ANXIOUS TO GET OUT OF DODGE!!/WE ALSO HAD ii) SOME REDDIT RAPTOR BUYING//.    iii)  AN STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 10.005 MILLION OZ FOLLOWED BY A 75,000  OZ QUEUE JUMP / v)  GOOD COMEX OI LOSS
 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS – 18
 

 


  (WE  SWITCHED OVER TO SILVER ON AUGUST  2)
 
SPREADING OPERATIONS(/NOW SWITCHING TO SILVER)

 


 


 


 


FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF SEPT

 


 


 


 


IN SILVER.

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

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN 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
 
AUGUST
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF AUGUST:
 
26,399 CONTACTS  for 19 days, total 26,399 contracts or 131.995 million oz…average per day:  1389 contracts or 6.947 million oz per day.

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF

AUGUST:  131.995 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON

LAST THREEE MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONZ OF OZ

MAY 137.83 MILLION

JUNE 149.91 MILLLION OZ

JULY 129.445 MILLION OZ

AUGUST: 131.995 MILLION OZ (ISSUANCE RATE NOW SIGNICIANTLY ABOVE JUNE AND JULY

 
RESULT: , …WE HAD A GOOD SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 955 WITH OUR 11 CENT LOSS SILVER PRICING AT THE COMEX ///WEDNESDAYTHE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 790 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.
 
TODAY WE HAD A SMALL SIZED LOSS OF 165 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR  $0.11 LOSS //THE DOMINANT FEATURE TODAY: HUGE BANKER SHORTCOVERING AS THEY GET OUT OF DODGE/  AND WE HAVE A  STRONG INITIAL SILVER OZ STANDING FOR AUGUST. 10.005 MILLION OZ),FOLLOWED BY TODAY’S 75,000 OZ QUEUE JUMP.
 

WE HAD  14 NOTICES FILED TODAY FOR 70,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 5835 CONTRACTS TO 498,900 _ ,,AND FURTHER FROM 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: -117 CONTRACTS.

THE GOOD SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $17.00///COMEX GOLD TRADING/WEDNESDAY. AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD SOME LONG LIQUIDATION AS THE TOTAL LOSS ON OUR TWO EXCHANGES TOTALLED A GOOD 4579 CONTRACTS..  WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR AUGUST AT 59.200 TONNES WHICH FOLLOWS TODAY’S  31,500 OZ QUEUE JUMP //NEW STANDING 81.58 TONNES.
 
 

YET ALL OF..THIS HAPPENED WITH OUR FALL IN PRICE OF $17.00 WITH RESPECT TO WEDNESDAY’S TRADING

 

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

WE HAD A GOOD SIZED LOSS OF 4579  OI CONTRACTS (14.24 TONNES) ON OUR TWO EXCHANGES 

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1256 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 0 & DEC 1256  ALL OTHER MONTHS ZERO//TOTAL: 1256 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 498,900. 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 GOOD SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4579  CONTRACTS: 5835 CONTRACTS DECREASED AT THE COMEX AND 1256 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 4579 CONTRACTS OR 14.24 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1275) ACCOMPANYING THE GOOD SIZED LOSS IN COMEX OI (5835 OI): TOTAL LOSS IN THE TWO EXCHANGES: 4579 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR AUGUST AT 59.194 TONNES FOLLOWED BY A QUEUE JUMP OF 31,500 OZ//NEW STANDING  81.58 TONNES/ 3) SOME LONG LIQUIDATION, /// ;4) GOOD SIZED COMEX OI LOSS 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL

 

 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

AUGUST

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF AUGUST : 64,415, CONTRACTS OR 6,441,500 oz OR 200.35 TONNES (19 TRADING DAY(S) AND THUS AVERAGING: 3500 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19 TRADING DAY(S) IN  TONNES: 200.35 TONNES

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

THUS EFP TRANSFERS REPRESENTS  200.35/3550 x 100% TONNES  5.63% 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:        188.73 TONNES FINAL

AUGUST:   200.35 TONNES INITIAL ISSUANCE.// DRAMATICALLY RISING AGAIN

 

 

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

 

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG 955 CONTRACTS TO 148,902 AND FURTHER FROM TO 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 790 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: 790 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  790 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 955 CONTRACTS AND ADD TO THE 790 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A SMALL SIZED LOSS OF 165 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES 

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 0.825 MILLION  OZ, OCCURRED WITH OUR $0.11 LOSS IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

(Peter Schiff, Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,

 
 
 

3. ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 38,72  PTS  OR 1.09%   //Hang Sang CLOSED DOWN 278.26 PTS OR 1.08%      /The Nikkei closed UP 17.49 PTS OR 0.06%   //Australia’s all ordinaires CLOSED DOWN .50%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4820  /Oil UP TO 67.80 dollars per barrel for WTI and 71.55 for Brent. Stocks in Europe OPENED ALL RED  /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4820. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4795/ONSHORE YUAN TRADING BELOW 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 FELL BY A GOOD SIZED 5835 CONTRACTS TO 498,900 MOVING FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS COMEX DECREASE OCCURRED WITH OUR LOSS OF $17.00 IN GOLD PRICING WEDNESDAY’S COMEX TRADING.WE ALSO HAD A SMALL EFP ISSUANCE (1256 CONTRACTS). …AS THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. LOOKS LIKE OUR BANKERS ARE FINALLY BAILING OUT!!

 

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  ACTIVE DELIVERY MONTH OF AUGUST..  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 1256 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  & DEC.  1256  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1256  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 LOST  THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED 4579 TOTAL CONTRACTS IN THAT 1256 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A GOOD SIZED COMEX OI OF 5835 CONTRACTS.   WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR AUGUST   (81.58),

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

JULY: 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB. 113.424 TONNES

JAN: 6.500 TONNES.

 

TOTAL SO FAR THIS YEAR (JAN- JULY)_: 330.80 TONNNES

 

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $17.00).,AND THEY WERE  SUCCESSFUL IN FLEECING SOME LONGS AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED A GOOD 14.24 TONNES. …. ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR AUG. (81.58 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”.

WE HAD -117  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET LOSS ON THE TWO EXCHANGES :: 4579 CONTRACTS OR 4579 OR 14.24 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:  498,900 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 49.89 MILLION OZ/32,150 OZ PER TONNE =  1551 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1551/2200 OR 70.54% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:132,078 contracts//    / volume//poor///awful

CONFIRMED COMEX VOL. FOR YESTERDAY: 172,572 contracts// poor ////  

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

 

AUGUST 26

/2021

 
INITIAL STANDINGS FOR AUGUST COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
74,420.520 OZ
 
 
INCL
 
 
BRINKS
 
&
Malca
 
 
1026 kilobars
 
total gold leaving 2.3 tonnes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
nil
OZ
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
112,644.48
 
oz
 
Brinks
 
real gold entering
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
333  notice(s)
33300 OZ
 
1.0357 TONNES
No of oz to be served (notices)
32 contracts
3200 oz
 
0.0995 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
26,196 notices
2,519,600 OZ
81.480 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  1 deposit into the customer account
i) Into Brinks:  112,644.48 oz
 
 
TOTAL CUSTOMER DEPOSITS 112,644.48  oz  
 
 
 
 
 
 
We had 0  customer withdrawals.

 

 
 
 
 
total customer withdrawals  nil  oz
     
 
 
 
 
 
 
 
 
 

We had 0  kilobar transactions 0 out of  1 transactions)

ADJUSTMENTS 0 

 

 
 
 
 
 
 
 
 
 
THE FRONT MONTH OF AUGUST GAINED 297 CONTRACTS UP TO 365. We had 18 notices served on Wednesday, SO WE GAINED 315 CONTRACTS OR 31,500 OZ (0.979 TONNES) WHICH WILL  STAND FOR GOLD ON THIS SIDE OF THE ATLANTIC. THE ONSLAUGHT FOR GOLD METAL ON THIS SIDE OF THE ATLANTIC CONTINUES 
 
 
 
 
SEPT LOST 193 CONTRACTS TO STAND AT 1535
 
OCTOBER LOST 830 CONTRACTS DOWN TO 44,275
.
DEC LOST 5170  TO STAND AT 405,782
 

We had 333 notice(s) filed today for 33300  oz

FOR THE AUGUST 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to333  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 300 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0  notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the AUGUST /2021. contract month, we take the total number of notices filed so far for the month (26,196) x 100 oz , to which we add the difference between the open interest for the front month of  (AUGUST: 365 CONTRACTS ) minus the number of notices served upon today  333 x 100 oz per contract equals 2,622,800 OZ OR 81.580TONNES) the number of ounces standing in this active month of AUGUST.  

 

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

No of notices filed so far (26,196) x 100 oz+( 365)  OI for the front month minus the number of notices served upon today (333} x 100 oz} which equals 2,622,800 oz standing OR 81.58 TONNES in this  active delivery month of AUGUST.

WE GAINED 31,500 OZ STANDING FOR METAL AT THE COMEX   

 

TOTAL COMEX GOLD STANDING:  81.58 TONNES

 
 

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NEW PLEDGED GOLD:

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

229,101.115 PLEDGED  MANFRA 7.12 TONNES

306,347.005, oz  JPM  9.52 TONNES

1,195,064.751 oz pledged June 12/2020 Brinks/37.17 TONNES

84,823.772, oz Pledged August 21/regular account 2.638 tonnes JPMORGAN

54,250.898 oz International Delaware:  1.68 tonnes

169,535.980 oz Malca  5.28 TONNES

total pledged gold:  2,300,122.07. oz                                     71.54 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 504.69 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 81.58 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  18,462,810.642 oz or 574.27 tonnes
 
 
 
total weight of pledged: 2,300,122.07 oz or 71.54 tonnes
 
 
registered gold that can be used to settle upon: 16,162,688.0 (502.72 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes16,162,688.0 (502.72 tonnes)   
 
 
total eligible gold: 16,020,815.754 oz   (498.31 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  34,483,626.396 oz or 1,072.58 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  946.24 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

AUGUST 26/2021

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//AUGUST

AUGUST. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
328,999.011 oz
 
 
 
CNT
Brinks
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
991.400
 OZ
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
14
 
CONTRACT(S)
70,000  OZ)
 
No of oz to be served (notices)
1 contracts
 5,000 oz)
Total monthly oz silver served (contracts)  2183 contracts

 

10,915,000 oz)

Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
 
We had 0 deposit into the dealer
 
 

total dealer deposits:  nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  1 deposit into customer account (ELIGIBLE ACCOUNT)

i) Into CNT:  991.400 oz

 

 
 
 
 
 
 

JPMorgan now has 186.173 million oz  silver inventory or 51.23% of all official comex silver. (186.17 million/362.584 million

total customer deposits today 991.400   oz

we had 2 withdrawals

 i) Out of CNT: 312,503.941 oz

ii) Out of Brinks:  16,495.07 oz 

 

 

total withdrawal  16,495.07        oz

 

adjustments: 0
 
 

Total dealer(registered) silver: 108.063 million oz

total registered and eligible silver:  362.9586 million oz

a net 0,326 million oz leaves  the comex silver vaults.

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THE FRONT MONTH OF AUGUST LOST 5 CONTRACTS TO STAND AT 15. WE HAD 20 NOTICES SERVED ON WEDNESDAY,SO WE GAINED 15 CONTRACTS OR AN ADDITIONAL 75,000 OZ WILL  STAND IN THIS NON ACTIVE DELIVERY MONTH OF AUGUST.

 

SEPTEMBER LOST 10,596 CONTRACTS DOWN TO  31,818

OCTOBER GAINED 291 CONTRACTS TO STAND AT 1293

DEC GAINED 9063 CONTRACTS UP TO 104,352

 
NO. OF NOTICES FILED:  14  FOR 700,000 OZ.

To calculate the number of silver ounces that will stand for delivery in AUGUST. we take the total number of notices filed for the month so far at  2183 x 5,000 oz = 10,915,000 oz to which we add the difference between the open interest for the front month of AUGUST (15) and the number of notices served upon today 14 x (5000 oz) equals the number of ounces standing.

Thus the AUGUST standings for silver for the AUGUST/2021 contract month: 2183 (notices served so far) x 5000 oz + OI for front month of AUGUST(15)  – number of notices served upon today (14) x 5000 oz of silver standing for the JULY contract month .equals 10,920,000 oz. ..VERY GOOD FOR AUGUST 

We gained 15 contracts or an additional 75,000 oz will stand for silver at the comex.

 

TODAY’S ESTIMATED SILVER VOLUME  84,403 CONTRACTS // volume good///

 

FOR YESTERDAY  90,268  ,CONFIRMED VOLUME/ / very good

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO -1.64% (AUGUST 26/2021)

SILVER FUND POSITIVE TO NAV

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

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

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

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

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

So far this year: 53.8 million oz

2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.85% nav   (AUGUST 26)/2021 )

 

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

NAV $18.45 TRADING 17.89//NEGATIVE  3.04

 

END

 

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

AUGUST 26/WITH GOLD UP $6.10 TODAY, A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.91 TONNES FROM THE GLD////INVENTORY RESTS AT 1001.72 TONNES.

AUGUST 25/WITH GOLD DOWN $17.00 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES FROM THE GLD////INVENTORY RESTS AT 1004.63 TONNES

AUGUST 24/ WITH GOLD UP $2.60 TODAY: A MONSTER CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 4.95 TONNES//INVENTORY RESTS AT 1006.66 TONNES.

AUGUST 23/WITH GOLD UP $21.25 TODAY:  NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1011.61 TONNES// 

AUGUST 20/WITH GOLD UP $1.05 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 3.49 TONNES FROM THE GLD //INVENTORY RESTS AT 1011.61 TONNES

AUGUST 19/WITH GOLD DOWN $1.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1015.10 TONNES/

AUGUST 18/WITH GOLD  DOWN $2.85 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.53 TONNES FROM THE GLD////INVENTORY RESTS AT 1015.10 TONNES/

AUGUST 17/WITH GOLD DOWN $2.50 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 1.16 TONNES FROM THE GLD///INVENTORY RESTS AT 1020.63 TONNES

AUGUST 16/WITH GOLD UP $11.50 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A LOSS OF 1.75 TONNES FROM TH EGLD///INVENTORY RESTS AT 1021.79 TONNES

AUGUST 13/WITH GOLD UP $26.20 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1023.54 TONNES

AUGUST 12/ WITH GOLD DOWN $1.20 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1023.54 TONNES

AUGUST 11/WITH GOLD UP $21.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1023.54 TONNES

AUGUST 10/WITH GOLD UP $11.50 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.75 TONNES FROM THE GLD////INVENTORY RESTS AT 1023.54 TONNES

AUGUST 9/WITH GOLD DOWN $37.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1025.29 TONNES

AUGUST 6/WITH GOLD DOWN $44.10 TODAY: TWO CHANGES IN GOLD INVENTORY AT THE GLD: A SMALL WITHDRAWAL OF .36 TONNES TO PAY FOR FEES. ANDLATE IN THE DAY A HUGE 2.32 TONNE WITHDRAWAL//INVENTORY RESTS AT 1025.29 TONNES

AUGUST 5/WITH GOLD DOWN $5.15 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1027.97 TONNES

AUGUST 4/WITH GOLD UP $.45 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 1027.97 TONNES

AUGUST 3/WITH GOLD DOWN $6.95 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.75 TONNES FROM THE GLD../INVENTORY RESTS AT 1029.71 TONNES.

AUGUST 2/WITH GOLD UP $4.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1031.46 TONNES.

JULY 30/WITH GOLD DOWN $17.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1031.46 TONNES

JULY 29/WITH GOLD UP $29.80 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A HUGE PAPER DEPOSIT OF 5.82 TONNES INTO THE GLD////INVENTORY RESTS AT 1031.46 TONNES

JULY 28/WITH GOLD UP $1.00 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1025.64 TONNES

JULY 27/WITH GOLD UP 90 CENTS TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A PAPER WITHDRAWAL OF 1.74 TONNES FROM THE GLD/INVENTORY RESTS AT 1025.64 TONNES.

JULY 26/WITH GOLD DOWN $1.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1027.35 TONNES.

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 1027.35 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

 

 
 
 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

AUGUST 26 / GLD INVENTORY 1011.61 tonnes

 

LAST;  1122 TRADING DAYS:   +76.97 TONNES HAVE BEEN ADDED THE GLD

 

LAST 972 TRADING DAYS// +  252.33. 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!)

AUGUST 26/WITH SILVER DOWN 22 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 545.878 MILLION OZ//

AUGUST 25/WITH SILVER DOWN 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 545.878 MILLION OZ/

AUGUST

24/WITH SILVER UP 37 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLSV: ANOTHER PAPER WITHDRAWAL OF 3.427 MILLION OZ AND THIS IS HEADING FOR SPROTT//INVENTORY RESTS AT 545.878 MILLION OZ..

AUGUST 23/WITH SILVER UP 50 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV;A HUGE WITHDRAWAL OF 2.641 MILLION OZ//INVENTORY RESTS AT 549.305 MILLION OZ//

AUGUST 20/WITH SILVER DOWN 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 551.946 MILLION OZ//

AUGUST 19/WITH SILVER DOWN 20 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: ANOTHER WITHDRAWAL OF 1.389 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 551.946 MILLION OZ/

AUGUST 18/ WITH SILVER DOWN 25 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF 2.131 MILLION OZ FROM THE SLV.INVENTORY REST AT 553.375 MILLION OZ

AUGUST 17/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.466 MILLION OZ.

AUGUST 16/WITH SILVER UP 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.466 MILLION OZ//

AUGUST 13/WITH SILVER UP 59 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE   SLV: A DEPOSIT OF 2.038 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 555.466 MILLION OZ.

AUGUST 12/WITH SILVER DOWN 39 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.428 MILLION OZ//

AUGUST 11/WITH SILVER UP 13 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.428 MILLION OZ//

AUGUST 10.WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.428 MILLION OZ/

AUGUST 9/WITH SILVER DOWN 78 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 371,000 OZ INTO THE SLV////INVENTORY RESTS AT 553.428 MILLION OZ//

AUGUST 6/WITH SILVER DOWN 86 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 553.057 MILLION OZ.

AUGUST 5/WITH  SILVER DOWN 17 CENTS TODAY;NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.057 MILLION OZ//

AUGUST 4/WITH SILVER DOWN 12 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV;A WITHDRAWAL OF 240,000 OZ FORM THE SLV//INVENTORY REST AT 553.057 MILLION OZ//

AUGUST 3/WITH  SILVER UP 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.297 MILLION OZ..

AUGUST 2/WITH SILVER UP 5 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.297 MILLION OZ.

JULY 30/WITH SILVER DOWN 23 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.02 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 553.297 MILLION OZ//

JULY 29/WITH SILVER UP 86 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.151 MILLION OZ//INVENTORY RESTS AT 552.277 MILLION OZ..

JULY 28/WITH SILVER UP 20 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.428 MILLION OZ//

JULY 27/WITH SILVER DOWN 64 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.428 MILLION OZ..

JULY 26/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 555.428 MILLION OZ.

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.

 
 

SLV INVENTORY RESTS TONIGHT AT

AUGUST 26/2021      545.878 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Peter Schiff:/

Peter Schiff Blasts Jerome Powell’s “Bad Economics”

 
THURSDAY, AUG 26, 2021 – 03:45 PM

Via SchiffGold.com,

During a Q&A with students and teachers, Federal Reserve Chairman Jerome Powell praised the bad economics that drove the government response to the coronavirus pandemic. In this clip from his podcast, Peter Schiff breaks down everything Powell got wrong.

During the Zoom event, Powell went out of his way to praise Congress for passing the “CARES Act.” The Coronavirus Aid, Relief, and Economic Security Act was the first $2.2 trillion stimulus plan Congress passed in response to the pandemic back in March 2020.

So, why does Powell admire this massive government spending plan?

He said that Congress was able to replace the income Americans lost as they were out of work due to the pandemic. As Peter pointed out, the plan not only replaced lost income, they augmented it.

A lot of people were getting more money not working than when they earned money for working.”

But Powell missed an important point.

Congress was able to replace the income that people lost, but it wasn’t able to replace the productivity that was lost.”

When people aren’t on the job working, they aren’t producing any goods or services. The government cannot replace that lost production. And income is supposed to be tied to production.

You help produce goods and services, and in reward, you get money. And now you can use that money to consume the goods and services that you produced.”

Of course, you don’t consume the exact products you produce. But your production still adds to the overall basket of goods available. Peter explained it this way.

When you’re working, you’re helping to fill up a bag with goods and services, and then you get paid. And now you have the right to reach into that bag and grab some of the goods and services that you helped produce. But when all these people didn’t go to work, they stopped putting stuff into the bag. But now the government gives them all this money so they can reach into the bag and grab stuff anyway. But if no one is putting stuff into the bag, and everybody is reaching into the bag to grab stuff, they’re going to end up empty-handed.”

Ultimately, consumers end up paying higher prices for the remaining goods in the bag because we have all of this money chasing fewer goods and services. Prices get bid up, and we end up with a rising cost of living.

Powell doesn’t seem to understand the difference between replacing money and replacing real productivity.

It’s the stuff. It’s the things that are produced that we need.”

Meanwhile, Powell’s Fed added even more money to the economy through its massive quantitative easing program. As Peter put it in another podcast, you can print money, but you can’t print stuff. As production fell during the pandemic, the proper monetary policy would have been to withdraw money from circulation.

It needs the money supply to shrink alongside the supply of goods to maintain prices. If you increase the supply of money while you’re simultaneously decreasing the supply of goods, prices are going to soar, which is exactly what we’re experiencing right now.

Peter said Powell should not be praising Congress for doing the wrong thing.

They should be condemned, as should the Federal Reserve for being complicit in this activity.”

Furthermore, the stimulus and bailouts enabled the federal government to enact policies the public would never have accepted if they had to bear the consequences. As the pandemic unfolded, President Trump invoked images of sacrifice during the Second World War. It’s certainly true Americans sacrificed during the war, but they didn’t get a government bailout.

Trump didn’t ask anyone to sacrifice. He said, ‘Hey, stay at home and we’ll send you a check. If your business is suffering, don’t worry. Get a PPP loan – a forgivable loan. We’ll give you some money.’ That was not the proper policy response to an emergency. If we really had a pandemic, if we really had a health crisis, then obviously people need to bear the financial consequences of that crisis. It’s not a good thing, but it’s reality. But what the government did is try to pretend that nobody actually had to suffer because the government can make everybody’s pain go away simply by printing money. Well, they didn’t make the pain go away. They actually exacerbated the pain. They just kicked the pain down the road a bit. And so now we’re finally starting to catch up with that pain.”

end

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

The SEC Is Allowing 5-Count Felon JPMorgan Chase to Trade Its Own Bank Stock in its Own Dark Pools

By Pam Martens and Russ Martens: August 26, 2021

Jamie Dimon Sits in Front of 
Trading Monitor in his Office (Source -- 60 Minutes 
Interview, November 10, 2019)
Jamie Dimon Sits in Front of Trading Monitor in his Office (Source — 60 Minutes Interview, November 10, 2019)

JPMorgan Chase is unique among the mega banks on Wall Street – and not in a good way. It owns the largest federally-insured bank in the United States despite a rap sheet that would make the Gambino crime family jealous. It has been charged by the U.S. Department of Justice with five felony counts since 2014, admitting to all of them. Its Board of Directors has left the same man, Jamie Dimon, at the helm of the bank as Chairman and CEO, throughout those five felony counts.

JPMorgan Chase is also the only American bank to ever be fined for using depositors’ money to gamble in derivatives in London and lose $6.2 billion of that money. (Jamie Dimon was Chairman and CEO at the bank then as well.)

JPMorgan Chase is the only federally-insured bank in the United States to be charged with two felony counts for helping to facilitate the largest Ponzi scheme in history – the Bernie Madoff looting of thousands of investors.

And despite this serial crime wave, the share price of its publicly-traded stock (ticker JPM) has somehow managed to behave like the most well-managed bank in America. Either Americans have no problem investing their life savings in a repeat felon or something untoward is going on here with the trading in this stock.

Since January 7, 2014, when the U.S. Department of Justice charged JPMorgan Chase with its first two felony counts for its role in the Madoff swindle, to its closing price yesterday, the share price of JPMorgan Chase has significantly outperformed the S&P 500 Index.

During this same span of time, JPMorgan Chase has been trading the shares of its own bank stock in its own Dark Pool. Dark Pools have little oversight by regulators and allow trades to occur without the bid or ask side of the trade being first exposed to “lit” markets, such as licensed stock exchanges. With the exception of Wells Fargo, all of the mega banks on Wall Street are operating their own Dark Pools. (The SEC refers to Dark Pools as ATS or Alternative Trading Systems.)

Until August of 2017, JPMorgan Chase operated only one Dark Pool, known as JPM-X. But in August 2017, the bank added a second Dark Pool, which also began to trade in the shares of its own bank stock. That second Dark Pool is known as JPB-X.

Wall Street’s chummy self-regulator, FINRA, decided to create the illusion of adding a little transparency to what is going on in Dark Pools in June of 2014. That’s when FINRA began to publish stale, three-week old trading data that was aggregated not by daily trading totals, but lumped together for an entire week, making it impossible for researchers to look for insider trading, front running and other share price manipulations. The first week for which Dark Pool trading data was released by FINRA was the week of May 12, 2014. FINRA released the data on June 2, 2014.

For the past seven years we have checked that FINRA data and witnessed JPMorgan Chase (as well as other banks) trading in the shares of their own bank stocks. We have repeatedly in the past asked the SEC to explain how this constitutes legal activity. We have yet to receive an answer.

In the most recent week reported by FINRA for Dark Pool trading, JPMorgan’s two Dark Pools traded a total of 518,277 shares of JPMorgan Chase stock in a total of 3,308 separate trades. As the chart below from FINRA data indicates, JPMorgan Chase’s own Dark Pool, JPM-X, was the third largest Dark Pool trader in the shares of its own stock for the week of August 2, 2021. In the four weeks from July 12 through the week of August 2, FINRA data shows that JPMorgan’s two Dark Pools made a total of 22,070 trades in its own stock.

JPMorgan’s federally-insured bank does not operate the Dark Pools. They are operated by another unit of the company, J.P. Morgan Securities LLC.

The Securities Exchange Act of 1934, which is still the law of the land, explains why it is a matter of national interest to protect U.S. markets from corruption by powerful players:

“Frequently the prices of securities on such exchanges and markets are susceptible to manipulation and control, and the dissemination of such prices gives rise to excessive speculation, resulting in sudden and unreasonable fluctuations in the prices of securities which (a) cause alternately unreasonable expansion and unreasonable contraction of the volume of credit available for trade, transportation, and industry in interstate commerce, (b) hinder the proper appraisal of the value of securities and thus prevent a fair calculation of taxes owing to the United States and to the several States by owners, buyers, and sellers of securities, and (c) prevent the fair valuation of collateral for bank loans and/or obstruct the effective operation of the national banking system and Federal Reserve System.

“National emergencies, which produce widespread unemployment and the dislocation of trade, transportation, and industry, and which burden interstate commerce and adversely affect the general welfare, are precipitated, intensified, and prolonged by manipulation and sudden and unreasonable fluctuations of security prices and by excessive speculation on such exchanges and markets, and to meet such emergencies the Federal Government is put to such great expense as to burden the national credit.”

The new Chair of the SEC, Gary Gensler, has promised to take a close look at Wall Street’s market structure. We can think of no better place to start than Wall Street’s Dark Pools.

-END-

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

END

OTHER PHYSICAL STORIES

COPPER

Copper Prices Slip Below Scrap For First Time Since April 2020

 
THURSDAY, AUG 26, 2021 – 01:10 PM

Industrial metals staged a comeback in the last five sessions as China’s containment of COVID infections has brought new optimism to the demand outlook. 

China has historically been the world’s largest buyer of copper on the physical market suggests its appetite for the valuable metal used in automobiles, electronics, and many other applications that power the global economy is growing. 

Colin Hamilton, managing director for commodities research at BMO, told Bloomberg that after months of slumping copper prices, it appears buyers are back in the market. He said, at the end of last week, high-grade copper scrap in China recorded a spot price at a premium to refined metal, a powerful indication that scrap supply is quickly dwindling. The same thing happened in early 2020 when central banks and governments injected trillions into the global economy. 

Hamilton said the dynamics at play with elevated scrap prices and waning demand could boost prices for the refined metal. 

“That dynamic is obviously unusual and doesn’t make economic sense, but it’s a sign that perhaps the selloff was getting ahead of fundamentals,” Colin Hamilton, managing director for commodities research at BMO, told Bloomberg.

“We do have some initial signs that Chinese buyers have stopped destocking and are coming back to the market,” Hamilton said. 

Goldman Sachs’s Christian Mueller-Glissmann recently told clients that copper prices could go higher by the end of the year.

“Our strategists think deficits can help copper break out of its range by Q4.” 

After a 126% upswing from the COVID lows, copper futures have remained in a holding pattern since the beginning of the year.

Bloomberg Industrial Metals Index remains range-bound as well. 

Premium subs may recall in a credit note titled “China’s Credit Impulse Just Bottomed With Profound Implications For Global Economies And Markets,” China’s credit impulse bottomed in June and is now poised for a rapid rebound, breathing a new life – with the usual 6 or so month lag – into the reflation trade.

So much for the Federal Reserve’s “transitory” narrative as it appears inflationary forces will be sticky around. 

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

i) Chinese yuan vs usa dollar/CLOSED UP AT 6.47820 

 

//OFFSHORE YUAN 6.4795  /shanghai bourse CLOSED DOWN 38.72 PTS OR 1.09% 

HANG SANG CLOSED DOWN 278.26 PTS OR 1.09 %

2. Nikkei closed UP 17.49 PTS OR 0.06% 

 

3. Europe stocks  ALL RED 

 

USA dollar INDEX UP TO  92.87/Euro FALLS TO 1.1776

3b Japan 10 YR bond yield: RISES TO. +.020/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110,07/ 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:: 67.80 and Brent: 71.55

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 DOWN for WTI and DOWN FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.405%/Italian 10 Yr bond yield RISE to 0.68% /SPAIN 10 YR BOND YIELD UP TO 0.32%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.09: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 0.69

3k Gold at $1787.70 silver at: 23.69   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 5/100 in roubles/dollar) 73.98

3m oil into the 67 dollar handle for WTI and  71 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 110.07 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 .9160 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0786 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 0.405%

The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.

4. USA 10 year treasury bond at 1.353% early this morning. Thirty year rate at 1.960%

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

6.  TURKISH LIRA:  UP  TO 8.37..  VERY DEADLY

Futures Coiled Ahead Of J-Hole As China Slumps, Bitcoin Slides

 
THURSDAY, AUG 26, 2021 – 07:46 AM

S&P futures continue to trade as if paralyzed in a tight 20-point range on dismal volumes just below 4,500 for the 3rd day in a row, and overnight they are fractionally in the red although off session lows, with the Nasdaq 100 down 0.2% and S&P 500 -0.1% amid a retreat in tech shares and commodities as markets remained on edge ahead of Friday’s Jackson Hole virtual gathering where Chairman Jay Powell is expected to speak at 10am and give clues on the upcoming taper. The dollar rose, yields were unchanged at 1.34%, oil dipped and bitcoin slumped.

Wall Street’s main indexes notched their latest record high on Wednesday but Asia’s session had been far more bumpy: Asia saw its first post-COVID outbreak interest rise in South Korea overnight, while Chinese markets tumbled after the country’s most indebted property developer Evergrande warned of a 39% slump in profits, Japan suspended Moderna’s COVID vaccine, while the mood of Germany’s consumers was darkening again. Cryptocurrency-exposed stocks fall, tracking a decline in Bitcoin after its recent rally. Bit Digital (BTBT) dropped 3.8% and Riot Blockchain (RIOT) was down 2.1%, while MicroStrategy (MSTR) slipped 3%.Here are some of the other notable U.S. movers today:

  • Amneal Pharmaceuticals (AMRX) rises 9.6% in premarket trading after a Parkinson’s drug trial met its its main goal, supporting plans for a new drug application. Piper Sandler reiterates an overweight rating, price target $9.
  • Joyy Inc. (YY) rallies 8.6% in the U.S. after Reuters reported itstwo top shareholders, Chairman David Li and Xiaomi founder Lei Jun, aim to take the Chinese social media company private in a deal that may value it at up to $8b.
  • Salesforce (CRM) gains 2.5% with analysts raising their price targets on the software giant, saying its quarterly results were strong across the board and that the acquisition of Slack should enhance its growth in future, even if it weighs on margins.
  • Selectquote (SLQT) slumps 24% after the insurance agency’s earnings missed estimates, prompting rating downgrades and price target cuts from RBC and KBW.
  • Snowflake (SNOW) rises 2.3% after the company reported better-than-expected earnings and a strong forecast for the third quarter. Analysts responded to the software firm’s results by raising their share price targets.

US-listed Chinese stocks resumed their slide in premarket trading Thursday after a four-day rally, as weak earnings out of Asia weighs on already fragile investor sentiment. Large-cap Chinese tech stocks are all lower this morning with Alibaba -1%, Pinduoduo -0.8%, JD.com -0.3%, NetEase -1.1%, Baidu -1.2% and Didi -0.4%. Electric-vehicle makers are also declining as Nio falls 0.6%, XPeng drops 2.9% and Li Auto loses 1.5%. China education names were also under pressure, including New Oriental -1.5%, Tal Education -1.9% and Gaotu Techedu -2.3%. Among the other China stocks traded in the U.S. that are sliding in premarket: Bilibili -1.8%, KE Holdings -2.1%, Lufax -1.8%, Tencent Music -1.8%, Futu -2.1%, iQiyi -2.3% and 360 DigiTech -2.4%.

“The most interesting thing we got was the euro sovereign bond market coming alive yesterday,” Saxo Bank’s head of FX strategy John Hardy said, pointing to Wednesday’s sharp pop up in yields that had also pushed up the euro. “It feels like the market is very complacent though (about the Jackson Hole symposium) and the bar for a surprise is pretty much non-existent.”

While we have covered the topic to death, investors and policymakers are particularly focused on what Fed Chair Jeremy Powell signals at Jackson Hole on Friday. “Ideally, the Fed would like to observe as long as possible, (and)…make sure that the economy is well on track towards growth,” Raghuram Rajan, former RBI governor and finance professor at the University of Chicago Booth School of Business, told the Reuters Global Markets Forum on Wednesday. “Of course, the problem is the Delta variant, plus whatever variants are lurking in the background.”

Views are split on whether Chairman Jerome Powell’s speech to the Jackson Hole meeting Friday will provide a clearer guide on tapering emergency Fed support. While the ongoing economic rebound and elevated inflation add to the case for starting policy normalization, the fast-spreading delta virus strain threatens a slower pace of recovery than some had expected.

“If the market starts to price in a more hawkish Fed hiking cycle, this would be consistent with upside for real bond yields over the coming months,” said Milla Savova, a strategist at Bank of America Corp. “Higher real bond yields would be a particular headwind for growth sectors such as tech.”

The European STOXX 600 index was down 0.4%, with mining, travel and leisure and retail stocks among the biggest losers. The return of risk aversion steadied euro zone government bond yields ahead of European Central Bank meeting minutes later in the day. FTSE 100 is down 0.4%, and the DAX is down ~0.6%. Here are some of the biggest European movers today:

  • Vivendi shares jump as much as 4.7% following Barclays upgrade to overweight from equal-weight, and after its Universal Music Group sets out financial targets ahead of listing.
  • Elmos Semiconductor shares surge as much as 8% to an almost one-month high after the German chip maker boosted its buyback offer price to EU39/share from EU36.
  • Fielmann shares climb as much as 4.5%, the most since June, after 2Q results that were “upbeat” about FY21 guidance, Bryan Garnier says in a note.
  • CRH shares rise as much as 2.4% after results that show strong and consistent operating leverage across the business as benefits of integrated model come through, according to Goodbody (buy) analyst David O’Brien.
  • Bouygues shares gain as much as 2.2% to their highest in almost 18 months after results. The infrastructure firm’s beat and group guidance raise is “reassuring,” Goldman Sachs says.
  • Elis shares drop as much as 4.4% after being downgraded to neutral from buy at Goldman Sachs, which cites the “relatively limited upside” to its price target compared with broader leisure, lodging and gaming coverage.
  • Eiffage gains the most in a month on 1H results that Citi says were ahead of expectations on increased margins in its concession business and higher contracting revenue.

“The easiest piece to write in global economics right now is the COVID tortoises and hares,” said Societe Generale’s Kit Juckes. “The zero COVID countries had a cracking start but now it is the others that are leading,” he said, pointing to how restaurant and airline bookings in Europe had been steadily improving whereas places like Australia were tough.

Earlier in the session, MSCI’s index of Asia-Pacific shares outside Japan dropped 0.65%, halting a three-day advance, with consumer discretionary and healthcare the biggest drags among industry groups as traders awaited further signals on China’s regulatory crackdown and the Federal Reserve’s plans to start scaling back stimulus. Chinese blue chips had fallen 2% and Hong Kong ended down 1%, as a tech rally ran out of steam.

The Hang Seng Tech Index, where many of the big Chinese tech firms are listed, fell 1.9%. Evergrande’s profit warning sent its shares down 7% and the shares of its electric vehicle unit tumbling nearly 20%. Chinese technology shares dropped as earnings from a number of firms missed analyst targets, while investors also offloaded shares of liquor makers including Kweichow Moutai. South Korean stocks slid after the Bank of Korea unexpectedly raised interest rates. China’s clampdown on industries from fintech to education to property has already started to hurt the nation’s economy, and Beijing has signaled there’s more regulation for businesses in years to come. 

The global inflationary pulse was in the headlines as the South Korean central bank lifted its base rate off a record low, the first major economy in Asia to do so. Governor Lee Ju-yeol maintained his hawkish tone and suggested the bank could further tighten policy as data showed Asia’s fourth-largest economy was overheating.

“The market might question the Fed’s timing if it were to decide to taper while macro data is in retreat, but tapering is necessary to quell cost-push inflation,” SMBC Nikko strategist Masashi Akutsu wrote in a note. “Once there is clarity on when tapering might start, it should not take markets long to finish pricing it in.”

Meanwhile, the 10-year Treasury yield rose 0.5bps to 1.344%, outperforming bunds and gilts by around 0.5bp each, with most yields remaining broadly within a basis point of Wednesday’s close. Calendar roll activity in futures continues to dominate, while cash markets were muted during Asia session. Focus on GDP data and 7-year auction, which follows solid 2- and 5-year sales so far this week. The week’s auction cycle concludes with $62b 7-year sale at 1pm ET; WI 7-year at ~1.13% is 8bp cheaper than July’s stop-out, which tailed the WI by 1bp. Japanese government bonds swung to gains after a 20-year bond sale attracted strong demand; the yen stayed in a narrow range.

In FX, the dollar gained 0.1%, with CHF, NZD and AUD the biggest G-10 decliners. The euro was little changed ahead of the ECB’s publication of the account of the monetary policy meeting of the Governing Council held June 21-22. The Aussie and kiwi were among the worst G-10 performers and both currencies fell for the first time in four days amid concern worsening coronavirus infections will prevent the two nations’ central banks from withdrawing stimulus.

In commodities, oil prices fell after three days of gains, with Brent crude down 0.9% at $71.56 per barrel but holding steady above $71/bbl, and U.S. crude dipped 1.2% to $67.5 a barrel. Most metals are falling, barring iron ore. Gold is down 0.2% to $1,787/Oz.

Bitcoin and the broader crypto space slid around 4% with selling emerging out of Asia, and dragging bitcoin from $49000 to $47000.

To the day ahead now, and central bank highlights include the minutes from the ECB’s July meeting, along with remarks from the ECB’s Rehn, Villeroy and Schnabel. Data releases from the US include the second estimate of Q2’s GDP, the weekly initial jobless claims, and the Kansas City Fed’s manufacturing activity for August. In Europe, there’s the Euro Area’s M3 money supply for July, French business confidence for August, and the German GfK consumer confidence measure for September. Finally, earnings reports today include Dollar General and HP.

Market Snapshot

  • S&P 500 futures little changed at 4,489.50
  • STOXX Europe 600 down 0.4% to 469.95
  • MXAP down 0.5% to 197.10
  • MXAPJ down 0.6% to 647.34
  • Nikkei little changed at 27,742.29
  • Topix little changed at 1,935.35
  • Hang Seng Index down 1.1% to 25,415.69
  • Shanghai Composite down 1.1% to 3,501.66
  • Sensex little changed at 55,993.50
  • Australia S&P/ASX 200 down 0.5% to 7,491.23
  • Kospi down 0.6% to 3,128.53
  • German 10Y yield rose 1.2 bps to -0.409%
  • Euro little changed at $1.1761
  • Brent futures down 1.0% to $71.53/bbl
  • Gold spot down 0.4% to $1,784.63
  • U.S. dollar index up 0.13% to 92.94

Top Overnight News from Bloomberg

  • President Xi Jinping said China will strive to hit key economic and social development targets set for this year, even as authorities maintain an aggressive approach to containing Covid-19
  • Chinese technology shares fell sharply, snapping a three-day rally as earnings from a number of firms failed to meet investor targets
  • China’s bond futures slid the most in two weeks amid concerns over wealth management rules, even after the central bank added cash to money markets to maintain interbank liquidity levels
  • Japan’s Yoshihide Suga moved closer to being re- elected ruling party leader and remaining prime minister after a powerful faction backed him, even as a record wave of Covid-19 infections pushed his public support rate to new lows

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks traded cautiously amid a deluge of earnings releases and as markets await the Jackson Hole Symposium, while US equity futures trickled lower overnight following another consecutive day of record highs on Wall St where financials led but tech lagged amid the rising yield environment. ASX 200 (-0.5%) was negative with the index dragged lower by underperformance in gold miners and defensive sectors, with price action also influenced by an overload of earnings releases and another daily record of COVID-19 infections in New South Wales where the regional lockdown will be extended to at least September 10th. Nikkei 225 (+0.1) wiped out opening gains with sentiment hampered by COVID-19 concerns which recently prompted a widening of the state of emergency and the KOSPI (-0.6%) also retraced early advances after the BoK became the first major Asian central bank to hike rates since the pandemic began. Hang Seng (-1.1%) and Shanghai Comp. (-1.1%) declined with stocks such as AAC Technologies and Xiaomi underperforming in Hong Kong despite their improved earnings releases and with Evergrande flagging a 29%-39% decline in profits. In addition, regulatory concerns lingered after China’s MIIT removed 67 apps from stores on Wednesday due to failures to conclude required rectifications around irregular collection of personal information. Finally, 10yr JGBs were lower as yields in the Asia-Pac region tracked their counterparts in where the curve bear steepened which was attributed to positioning for a hawkish Fed and roll activity, while the regional also digested the BoK rate hike and mixed results at the 20yr JGB auction.

Top Asian News

  • Asian Stocks Dip on Unease Over China Regulation, Fed Taper Risk
  • China Bonds Still Under Pressure Despite PBOC Cash Injection
  • Chinese Web Army’s ‘Cyber-Cultural Revolution’ Silences Critics
  • Japan’s Suga Firms Up Key Re-Election Support Despite Low Polls

European bourses trade predominantly lower (Stoxx 600 -0.6%) but off worse levels in what has been a choppy morning but quiet in terms of news flow. Losses in Europe accelerated at the cash open. US equity futures are also subdued but to a lesser extent than their peers across the pond – with the NQ (-0.2%) narrowly lagging vs ES (Unch) potentially on yield dynamics, ahead of several Fed speakers scattered throughout today and tomorrow in the run-up to Chair Powell’s address (full preview available in the Newsquawk Research Suite). Back to Europe, the SMI (+0.1%) narrowly outperforms its peers amid a robust performance in the defensive Healthcare sector, with gains spearheaded by pharma-giant Roche. Sectors overall do not portray a particular theme. Media opened as the outperformer and has retained that spot – largely on the back of Vivendi’s performance after a broker upgrade. Vivendi accounts for a substantial 13.4% of the Media sector. IT and Basic resources opened as the laggards, although the former has since trimmed losses and the latter remains subdued. In terms of individual movers, Deutsche Bank’s (-1.8%) DWS arm (-12%) slumped after the US SEC opened a probe into the asset management arm, amid claims it overstated how much it used sustainable investing criteria to manage its assets. Other movers remain somewhat uninteresting with CRH (+1.8%), Bouygues (+1.5%) and Hays (+1.9%) all firmer post-earnings. One to keep on the radar for automakers – China’s Securities Daily reportedly noted that the EV market is overheating and shows risks. Elsewhere, Tesla’s (-0.5% pre-market) Berlin Gigafactory will be subject to discussions on potential domestic objections today.

Top European News

  • The Best and Worst Places to Be as Delta Wrecks Reopening Plans
  • U.K. Carmakers Beset by Shortages in Worst July Since 1956
  • Billionaire Nixon’s Family Office Plans to Boost Crypto Bets
  • Delivery Hero Dips; RBC Says Reiterated Guidance as Expected

In FX, the Dollar remains firm relative to most majors, though off best levels following Wednesday’s rebound that appears to have been more ‘dead cat’ than decisive in terms of a real turning point as the clock continues to tick down Fed Chair Powell tomorrow. In the run up, IJC data will likely be far more influential than the 2nd Q2 GDP release, barring radical revisions, while commentary from Kaplan and Bulard could provide further insight about tapering intentions and the 7 year note auction concludes what has been a mixed bag of issuance from a demand perspective. Hence, Treasuries are still cautious and supportive for the Greenback to an extent as the DXY hovers just under 93.000 within a 92.968-807 range vs yesterday’s wider 93.135-92.801 extremes.

  • CHF/AUD/NZD/GBP/CAD – Not much to choose between biggest loser and those bearing up better to be honest, but the Franc is lagging behind and below 0.9150 against the Buck, while also retreating toward 1.0800 vs the Euro having caressed the round number below not long ago. Elsewhere, it’s a tight tussle down under amidst all the Aussie and NZ pandemic problems, but Aud/Usd is holding just above 0.7250 and Nzd/Usd around 0.6950, with the latter encouraged, if not boosted by stronger than expected Q2 Capex. The Pound has faded beyond 1.3750 in the ongoing absence of anything UK specific to offer independent impetus, and the Eur/Gbp cross seems stymied inside technical levels in the form of 50 and 100 DMAs at 0.8547 and 0.8589 respectively, while the Loonie is still under 1.2600 and loosening links with crude prices as focus switches Canadian average earnings, to a degree.
  • JPY/EUR – The Yen is striving to contain losses through 110.00 ahead of Tokyo CPI that might offer a distraction to Japan’s deteriorating COVID-19 situation and the UST-JGB yield spread vigil that is becoming more bullish for Usd/Jpy, but could find support via the 50 DMA at 110.15.. Conversely, the Euro extended just over 1.1770 to probe the 21 DMA that stands at 1.1772 today before waning in advance of ECB minutes (see 10.00BST post on the Headline Feed for a preview), then comments from GC members Villeroy and Schnabel.

In commodities, WTI and Brent October futures remain subdued, but choppy, with the complex seemingly tracking risk appetite in the absence of fresh catalysts. There is little new to report on the COVID front aside from increasing noise regarding the necessity of booster jabs – with US President Biden’s administration reportedly planning boosters at six months instead of eight months. Aside from the Fed, the focus will fall on the OPEC+ meeting slated for the 1st September, with the JTC meeting beforehand. Participants will be on the lookout for sources alongside hints as to whether the group will go ahead with the 400k BPD increase in output in the upcoming month. OPEC+ members have been quiet, whilst the US called for members to release more output in a bid to lower gasoline prices for consumers. In the interim, energy markets will likely take their cue from the overall market mood alongside Dollar influence. WTI Oct, at the time of writing, trades meanders around USD 67.50/bbl (vs high USD 68.15/bbl) while its Brent counterpart resides around USD 71.50/bbl (vs high USD 72.13/bbl). Precious metals are also modestly softer as the Buck remains choppy and yields higher. Spot gold sees several nearby DMAs, with the 21 at USD 1,785/oz, the 50 at USD 1,790/oz, and the 200 and 100 at SUD 1,809.50/oz and USD 1,810.50/oz. Meanwhile, LME copper subdued around the middle of a relatively tight range amid the cautious tone across markets. Dalian iron ore contacts traded higher but gave up most of their early gains, whilst ANZ bank forecasts iron ore demand to slump 87mln tons due to China curbs.

US Event Calendar

  • 8:30am: 2Q GDP Annualized QoQ, est. 6.7%, prior 6.5%
    • 2Q PCE Core QoQ, est. 6.1%, prior 6.1%
    • 2Q GDP Price Index, est. 6.0%, prior 6.0%
  • 8:30am: 2Q Personal Consumption, est. 12.2%, prior 11.8%
  • 8:30am: Aug. Initial Jobless Claims, est. 350,000, prior 348,000
    • Aug. Continuing Claims, est. 2.77m, prior 2.82m
  • 11am: Aug. Kansas City Fed Manf. Activity, est. 25, prior 30

DB’s Jim Reid concludes the overnight wrap

As investors looked forward to Fed Chair Powell’s speech tomorrow at the Jackson Hole symposium, risk assets put in another strong performance yesterday that saw global equity indices hit all-time highs once again, alongside a further advance in commodity prices. However, there was also a big move higher in sovereign bond yields, particularly in Europe, as investors considered the potential pace of tapering over the coming months, and other haven assets including gold (-0.66%) and the Japanese Yen (-0.34%) both struggled as well.

Looking at those moves in depth, the S&P 500 (+0.22%) advanced for a 5th consecutive session, and at one point in trading actually breached the 4,500 mark for the first time, before settling just beneath that at what was still a record high. Cyclical industries powered the advance, with banks (+1.80%) outperforming in particular thanks to the move higher in bond yields, and small-cap stocks were another beneficiary of the risk-on move as the Russell 200 rose +0.37%. Tech stocks were comparatively weaker as higher rates weighed slightly on growth industries, but that still didn’t stop the NASDAQ (+0.15%) from hitting another all-time high of its own.

In Europe, it was a far more subdued story for equities, with the STOXX 600 up just +0.01%, but for sovereign bonds it was a very different picture, as yields on 10yr bunds (+5.6bps), OATs (+6.2bps) and BTPs (+9.3bps) all saw sizeable moves higher. Indeed, by the close the 10yr bund yield had seen its biggest one-day move since early March. The dramatic shift higher was partly the result of a Reuters interview with ECB Chief Economist Philip Lane, which leant hawkishly in a few respects. The major headline was his openness on making an operational decision on the pace of PEPP purchases in September, which could potentially see the pace of purchases reduced at that meeting. In the interview, he said that the aim of purchases was “to maintain favourable financing conditions”, but pointed out that when it came to a potential September decision “in the grand scheme of things, this is a local adjustment”, and noted that even in Q1 at the slower pace of purchases, they were still high relative to historic norms. The comments come ahead of tomorrow’s heavily anticipated Jackson Hole speech from Fed Chair Powell, as Lane wanted to also note that the ECB stood prepared to respond to any market disruption that Fed tapering could cause. In addition to his remarks about PEPP purchases, Lane played down the impact of the slowdown in China and described the impact of the Delta variant on the overall economy as “quite limited so far.” US Treasury yields similarly moved higher on the day, with 10yr yields up a smaller +4.6bps to 1.339% – their highest closing level in nearly two weeks.

Overnight in Asia, markets in the region are continuing to struggle as concerns over China’s ongoing regulatory crackdown came back to the fore, and the Hang Seng (-1.48%), Shanghai Comp (-0.50%), Kospi (-0.77%) and the Nikkei (-0.03%) have all moved lower. In other news, the Bank of Korea raised its interest rate by 25bps to 0.75%, saying that they would “gradually adjust” the degree of support for the economy, as they also raised their inflation outlook for this year to 2.1%. Elsewhere, futures on the S&P 500 are down -0.18% while yields on 10y USTs are down -0.7bps to 1.332%.

On the political scene, there’s exactly one month to go until the German federal election today, which is now looking incredibly tight based on current opinion polls. Yesterday saw another poll from Civey for Der Spiegel with the CDU/CSU and the SPD tied on 22% each, which fits into the trend of a neck-and-neck race between the two, whilst the Greens weren’t far behind on 18%. This particular poll had a margin of error of +/- 2.5%, so it doesn’t stretch the realms of plausibility that any one of these three parties could end up in top position after the election, and very narrow swings in public opinion could have a big impact on the position of each party afterwards. Also, with the polls now indicating that 3 parties will be needed to form a majority coalition after the election, this also raises the prospect that there could be lengthy negotiations on forming a new administration. And this could be stretched out further if any decide to ask for their members’ support on any coalition agreement, just as took place with the SPD entering another grand coalition after the 2017 election. Indeed, last time it wasn’t until March 2018 that a new administration was in place, almost six months after the election in late September 2017.

Turning to the pandemic, cases are continuing to plateau at the global level according to data from John Hopkins University, although we’re yet to begin a sustained decline so far. That said, this masks a big variation between different countries, with New Zealand reporting a further 68 cases that brings the total number of community cases in the current outbreak to 277. Meanwhile in Australia, they’re continuing to see a worsening situation, with New South Wales reporting more than 1,000 daily cases for the first time, which has seen the state lockdown extended until September 10. Separately in Scotland, a record number of cases were reported for a second day running, which will add to nervousness that even an advanced vaccination programme (79% of over-16s are fully vaccinated there) might not be as effective as once hoped for given the delta variant and the potential for waning efficacy over time. In other news, there were further developments on booster jabs as Johnson & Johnson said that a second dose of their vaccine was found to trigger a strong jump in the number of antibodies. Separately on the topic of vaccine mandates, Delta Air Lines didn’t impose a mandate, but instead announced that they’d impose a $200 monthly surcharge on employees who weren’t vaccinated, which will take effect from November 1. Finally on travel restrictions, the EU is expected to discuss today whether travel restrictions should be brought back on visitors from the US as Covid-19 cases continuing to rise there.

Looking at yesterday’s data, the Ifo business climate indicator from Germany in August fell to 99.4 (vs. 100.4 expected), which marked the second consecutive decline in the measure. The current assessment measure actually rose to a post-pandemic high of 101.4 (vs. 100.8 expected), but the expectations measure fell back to a 6-month low of 97.5 (vs. 100.0 expected). As a reminder, our German economists downgraded their German GDP forecast for 2021 to 3.1% yesterday (link here), with supply-chain disruptions and the delta variant having an impact on the short-term outlook. Over in the US meanwhile, the preliminary release for durable goods orders in July showed a -0.1% contraction (vs. -0.3% expected).

To the day ahead now, and central bank highlights include the minutes from the ECB’s July meeting, along with remarks from the ECB’s Rehn, Villeroy and Schnabel. Data releases from the US include the second estimate of Q2’s GDP, the weekly initial jobless claims, and the Kansas City Fed’s manufacturing activity for August. Separately in Europe, there’s the Euro Area’s M3 money supply for July, French business confidence for August, and the German GfK consumer confidence measure for September. Finally, earnings reports today include Dollar General and HP.

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 38,72  PTS  OR 1.09%   //Hang Sang CLOSED DOWN 278.26 PTS OR 1.08%      /The Nikkei closed UP 17.49 PTS OR 0.06%   //Australia’s all ordinaires CLOSED DOWN .50%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4820  /Oil UP TO 67.80 dollars per barrel for WTI and 71.55 for Brent. Stocks in Europe OPENED ALL RED  /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4820. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4795/ONSHORE YUAN TRADING BELOW 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

South Korea unexpectedly hikes rates as their are experiencing huge  bubbles all over the place. You will see that all countries will experience huge price increases on goods and financial assets

(zerohedge)

South Korea Unexpectedly Hikes Rates On Growing Housing, Debt Bubble Fears

 
THURSDAY, AUG 26, 2021 – 08:59 AM

Overnight, South Korea became the first major Asian economy to raise interest rates since the start of the pandemic, as record household debt and soaring housing prices outweighed fears over Seoul’s struggle to contain the Delta coronavirus variant. In the closely watched decision on Thursday, the Bank of Korea raised its benchmark rate by 25bps to 0.75%, increasing the seven-day repurchase rate 25 basis points from a record low of 0.50% with a majority vote. One member cast a dissenting vote calling for an on-hold decision. The MPC statement kept the door open for further policy rate hikes, on the back of stable growth outlook and an upward revision to the headline inflation forecast.

The hike marked the country’s first rate rise since September 2018, while interest rates have remained unchanged since the BoK cut them by 50 basis points in May last year.  A minority, or 9 out of 20 economists, were expecting a hike in today’s meeting and as such the decision was a surprise to consensus and was only ~40% priced in. The unusual level of uncertainty stemmed from a months-long resurgence of coronavirus cases, which has forced South Korea into its toughest social-distancing controls since the start of the pandemic. Last week, New Zealand scrapped its plans for an imminent rate hike after the country entered a lockdown after just one covid case.

The governor kept a hawkish stance, noting that today’s hike is just the first step for policy normalization and overall monetary policy remains accommodative even with the 25bp policy rate hike.  He explained that real interest is in negative territory and overall liquidity remains ample considering robust private sector credit growth. In his view, the 25bp policy rate normalization would not deter the recovery trend in private consumption or robust private sector investments but would still be helpful in restraining demand for excessive borrowing from households. While the governor did not provide a direct answer to his view on the neutral rate for Korea, he responded that the current level of policy rate remained well below the neutral level.

“Despite today’s hike, financial conditions remain accommodative,” said Lee Ju-yeol, BoK governor. “We are seeing some side effects from the unusually loose conditions of the past year-and-a-half, so we will normalize interest rates in accordance with the economic recovery.”

The statement kept a broadly positive tone on the macro outlook, noting that the Korean economy has “continued its sound recovery” notwithstanding a slowdown in private consumption due to the coronavirus resurgence. The statement noted that GDP growth for this year will likely be around the central bank’s May forecast, while pointing to upside risks to headline inflation. During the press conference, the governor clarified that 2021 GDP growth forecast was unchanged at 4.0% and headline inflation forecast was raised 30bp to 2.1%, broadly in line with our forecast (GDP growth: 4.1%, headline inflation: 2.1%).

While South Korea is on track for gross domestic product growth of 4% this year as the export-led economy has benefited from robust demand for electronics products including computer chips and smartphones, as well as recovering markets for Korean-made ships and cars, economic planners in Seoul have grown increasingly concerned that chronic problems in the domestic economy have been masked by the booming export recovery, which helped rescue the country from the depths of a pandemic-induced recession last year

The forward-looking section of the MPC statement kept the door open for further policy rate adjustments. It added the wording that MPC will “gradually adjust the degree of monetary policy accommodation…” and decide “when to further adjust the degree” based on assessment of various macro risk factors, including growth, inflation and financial imbalance, as well as developments in coronavirus situations and changes in monetary policies in major economies.

Alex Holmes, an economist with Capital Economics, expected the BoK to tighten its monetary policy further to rein in financial risks.

“The financial stability issues troubling the BoK continue to build,” he said. “House prices rose by 14.3 per cent year on year in July, the most since 2002. Recent data show that household debt was up by 10.3 per cent year on year in [the second quarter], after posting its largest ever gain in the April to June period.”

There are also signs that many self-employed workers in Asia’s fourth-largest economy, who make up almost one-third of the labour force, were under mounting financial pressure after coronavirus restrictions sharply reduced their incomes.

Some more observations on the BOK decision from Goldman:

  • For future policy rate decisions, the governor explained that the largest risk factor was remaining uncertainties surrounding the global pandemic. Regarding the ongoing 4th wave of coronavirus infections, the governor’s overall assessment did not change meaningfully from the previous meeting. While stricter social distancing measures would undeniably have a temporary negative impact on private consumption, it remains unlikely to have meaningful impact on the broader economic recovery trend. Furthermore, high frequency data (such as credit card usage and mobility) suggest that the impact was also likely to be smaller than previous waves, consistent with our assessment. Going forward, the BOK will continue to closely watch coronavirus developments, especially changes to the government’s social distancing measures and their economic impact, rather than simply focusing on levels of new infections. For now, the central bank takes the government’s expectations as its base case assumption, which entails elevated new cases until September and some moderation in October which would allow for relaxation of social distancing measures.
  • On the macro outlook, the governor expected the temporary slip in private consumption to be offset by robust exports and investment and an upcoming fiscal boost. For inflation, the governor mentioned that even with the upward revision to the forecast for 2021, headline inflation was not at excessively high levels (2.4% for 2H) and is still expected to moderate in 2022. That said, the central bank remains mindful of upside risks of inflation staying at elevated levels for a longer-than-expected period, on the back of a broadening demand-side pressure in inflation and a pick-up in inflation expectations (2.4% based on BOK’s August survey, which is the highest since November 2018).
  • On potential growth, the governor mentioned that the central bank’s latest estimate for 2021-2022 was around 2%, which is meaningfully lower than the central bank’s previous estimate of 2.5%. The decline in potential growth reflects demographic changes, employment conditions and lowered service sector productivity following the global pandemic. The governor added that potential growth could recover in the short term by minimizing the scarring effects from the pandemic and improving investment conditions. He added that lower potential growth could, in principle, imply lower normal levels of interest rates.
  • On financial imbalances, he reiterated many of his previous views in the context of acceleration in household debt growth for July and continued rapid and broad increase in housing prices. He noted that tightening in macroprudential measures, the first line of defense, have not been successful in reigning in household debt growth, perhaps due to expectations for a sustained period of low interest rates. Hence, he noted that most MPC members think that now is the time monetary policy normalization, in addition to tight prudential measures, would be needed to reduce financial instability risks.

As the FT notes, the BoK’s move also sparked debate over whether central banks in Asia might soon follow suit earlier than expected. TD Securities strategist Mitul Kotecha said that while further easing in monetary policy in the region was “unlikely”, most Asian central banks were set to “maintain accommodative bias”.

“Perhaps only India is at risk of hiking in the region in the months ahead, though we think this will only take place in [the first quarter] next year. In contrast, we think the [People’s Bank of China] could cut its RRR in the weeks ahead,” he said, referring to the central bank’s reserve requirement ratio, or the amount of cash Chinese banks must hold as reserves.

Goldman kept its baseline scenario that the BOK will follow up with another 25bp rate hike on November 25, assuming that the coronavirus situation continues to stabilize. Key events and indicators to watch, other than regular activity, leverage and inflation data, include the pace of vaccination till end-October (full vaccination of 70% of population) and the pace and timing of Fed tapering.

 

end

b) REPORT ON JAPAN

JAPAN/TAIWAN

Japan and Taiwan discuss joint efforts as they are very concerned with Chinese aggression and invasion threats

(zerohedge)

Japan And Taiwan To Discuss China Aggression Amid Invasion Threats

 
 
WEDNESDAY, AUG 25, 2021 – 08:25 AM

The probabilities are increasing that China will try and seize Taiwan by force amid America’s disorganized exit from Afghanistan has tarnished U.S. prestige. Allies of the West, such as Japan and Taiwan, are set to hold a meeting about an increasingly aggressive China.

The Financial Times spoke with Masahisa Sato, a parliamentarian who manages foreign affairs for Japan’s ruling Liberal Democratic Party (LDP), on Tuesday, said discussions are needed about the implications of a China invasion of Taiwan because it would have “a serious impact” on Japan’s security and economy.

“That is how important we feel the situation in Taiwan is at the moment,” Sato said.

Sato wouldn’t be feeling this way if it wasn’t for America’s chaotic exit from Afghanistan has worried U.S. allies, such as Japan and Taiwan, if China attempts to seize Taiwan by force, even though the U.S. has a defense treaty with the island, America’s military might be too weak to support defense operations. 

We noted last week as Kabul, Afghanistan, collapsed, China immediately held war drills around Taiwan, with fighter jets, anti-submarine aircraft, and combat ships. 

Ruling parties of Japan and Taiwan will be holding their first bilateral security talks on Friday as the threat of China invading Taiwan increases. 

Vice President Kamala Harris on Tuesday traveled to southeast Asia, was held up due to an unnamed ‘health incident’ before departing from Singapore for Vietnam. Besides that, she scolded Beijing for its threatening actions to its neighbors. 

“Beijing continues to coerce, to intimidate and to make claims to the vast majority of the South China Sea,” Harris said in Singapore, describing China’s claims as “unlawful.” She added that “the United States stands with our allies and partners in the face of these threats.”

Japan and Taiwan currently do not have diplomatic relations, but that appears to change as the war threat increases. The dialogue between both countries coincides with U.S. and Japanese military officials preparing for a conflict in the Taiwan Strait or the South China Sea. 

Sato and Taku Otsuka, another LDP member heading defense issues, will hold Friday’s talks via teleconference with Taiwan’s ruling Democratic Progressive Party (DPP), such as Lo Chih-cheng, a lawmaker who heads the party’s international department. 

The initiative for direct communications between both countries would benefit the U.S but has angered China. 

“The Chinese side firmly opposes all forms of official interactions between Taiwan and countries having diplomatic ties with China,” said Hua Chunying, a spokeswoman for China’s foreign ministry.

Chinese leaders have long understood the military consequences of seizing Taiwan by force. But now, with the rapid deterioration of American hegemony, Beijing believes it could be the time to take back what’s rightfully their’s. 

America will remain a great power for many years, but its influence in the world and foreign policy is in rapid decline. 

end

JAPAN/VACCINE

1.6 MILLION Moderna doses have been withdrawn in Japan over contamination.

translated from Japanese to English.

 

 

COVID VACCINES

1.6m Moderna doses withdrawn in Japan over contamination

Company confirms reports of particulate matter in vials, but finds ‘no safety issues’

The Moderna vaccine against COVID-19 was cleared in May for emergency use in Japan.   © Reuters

TOKYO/ NEW YORK — About 1.6 million doses of Moderna’s coronavirus vaccine have been taken out of use in Japan because of contamination reported in some vials, the Ministry of Health, Labor and Welfare said early Thursday.

Several vaccination centers have reported that vaccine vials contained foreign matter, according to an announcement from the ministry, which added it will seek to minimize the impact of the withdrawal on the country’s inoculation program.

The ministry said later in the day that the substance that had been mixed in may have been metal. “It’s a substance that reacts to magnets,” a ministry official said. “It could be metal.”

 

Takeda Pharmaceutical handles distribution of the U.S.-developed Moderna vaccine in Japan.

Nasdaq-listed Moderna confirmed receiving “several complaints of particulate matter” in vaccine vials distributed in Japan but said it had found “no safety or efficacy issues” related to these reports.

“The company is investigating the reports and remains committed to working transparently and expeditiously with its partner, Takeda, and regulators to address any potential concerns,” a Moderna spokesperson told Nikkei, saying the drugmaker believed a “manufacturing issue” at a plant in Spain was the cause.

The vaccine lot in question and two adjacent lots have been put on hold “out of an abundance of caution,” the spokesperson said.

The Japanese ministry has not halted the use of Moderna vaccines in other batches, deeming them safe.

Prime Minister Yoshihide Suga told reporters on Thursday afternoon that he had instructed the ministry to look into the case with safety as the top priority, adding he had received reports that the withdrawal “won’t have a significant impact on the country’s vaccination campaign.”

The Moderna vaccine was granted emergency-use authorization in Japan in March

end

Toyko Metropolitan Medical Association recommends Ivermectin 

(translated from Japanese into English)

Tokyo Metropolitan Medical Association recommends ivermectin administration to prevent aggravation

 

Emphasized that medication can prevent aggravation (Chiyoda-ku, Tokyo)

Haruo Ozaki, chairman of the Tokyo Metropolitan Medical Association, recommended urgent use of the drug at a press conference on the 9th, mainly to prevent the aggravation of home caregivers in order to respond to the spread of the new coronavirus infection. He emphasized that antiparasitic drugs such as “ivermectin” should be administered to corona-infected persons, saying that they have been shown to be effective in preventing aggravation overseas.

In addition to ivermectin, he called for the government to approve the use of the steroidal anti-inflammatory drug dexamethasone. Mr. Ozaki said, “(Both) have few side effects. I would like the government to consider treatment at the level of the family doctor.”

Both ivermectin and dexamethasone are prescribed domestically. However, it has not been approved as a treatment for corona. As of the 8th, there are about 1,600 home recuperators in Tokyo, and about 1,600 infected people who are “under adjustment” because the hospitalization destination has not been decided. How to deal with sudden changes in the physical condition of home care patients who are often mild or asymptomatic is also an issue.

Mr. Ozaki emphasized that the number of newly infected people in Tokyo per day is “reducing the number to about 100 is the way to improve the situation from April to June.” On the 9th, 412 newly infected people were confirmed in Tokyo

end

Special thanks to my son Stephen for getting this for us:

His speech

 

 
 
 
 

3 C CHINA

 

CHINA/USA

end

 

CHINA/ECONOMY

 

CHINA/COVID ORIGINS

4/EUROPEAN AFFAIRS

UK//COVID
 
Award winning broadcaster died from vaccine (AZ)
(zerohedge)
 

 

BBC presenter died of brain haemorrhage ‘due to complications of AZ vaccine’, inquest finds

The inquest heard that Lisa Shaw was fit and healthy before receiving the AstraZeneca vaccination

 

 

Award-winning BBC radio presenter Lisa Shaw
Award-winning BBC radio presenter Lisa Shaw CREDIT: Family Handout/PA

 

An award-winning BBC radio presenter died due to complications of the AstraZeneca Covid-19 vaccination, a coroner has concluded.

Lisa Shaw died in May, just over three weeks after she had her first dose of the jab, an inquest in Newcastle heard on Thursday.

The 44-year-old, who was referred to by her married name, Lisa Eve, during the hearing, started to complain of a headache a few days after her vaccination and eventually went to A&E in Durham.

She was then diagnosed with a blood clot and was transferred for specialist treatment at Newcastle’s Royal Victoria Infirmary.

The inquest heard that, despite treatments including cutting away part of her skull to relieve pressure, nothing further could be done and Ms Shaw died on May 21.

At the end of a hearing which lasted less than an hour, Newcastle senior coroner Karen Dilks gave a narrative conclusion, which said: “Lisa died due to complications of an AstraZeneca Covid vaccine.”

Earlier, pathologist Tuomo Polvikoski told the coroner that Ms Shaw, who was a well-known presenter for BBC Newcastle, was fit and healthy before receiving the vaccination.

Asked about the underlying cause of the fatal clotting on her brain, Dr Polvikoski said the clinical evidence “strongly supports the idea that it was, indeed, vaccine-induced”.

The pathologist added: “Based on available clinical information, it seems to be the most likely explanation,”

Ms Shaw’s husband, Gareth Eve, attended the inquest with other members of the family.

They issued a statement, which said: “This is another difficult day in what has been a devastating time for us.

“The death of our beloved Lisa has left a terrible void in our family and in our lives.

“She truly was the most wonderful wife, mum, daughter, sister and friend.

“We have said all we want to say in public at this time and ask to be left alone to grieve and rebuild our lives in private. Thank you.”

UK/SUPPLY CHAIN

UK supermarket CEO is complaining that shortages are at their worst level in quite some time.  UK to witness huge inflation

(Veazey.EpochTimes)

UK Supermarket CEO Says Shortages At Worst Level He Has Seen

 
THURSDAY, AUG 26, 2021 – 03:30 AM

Authored by Simon Veazey via The Epoch Times,

A leading supermarket boss has warned that current UK food shortages are at a “worse level” than he has ever seen.

The food supply chain has been disrupted by a lack of lorry drivers, and by a shortage of labour in general.

Steve Murrells, chief executive of the Co-operative Group, told the Times that they had significantly reduced the range of some products. He blamed Brexit and pandemic-related fallout.

The road haulage industry says there is currently a shortfall of around 90,000 drivers.

Meanwhile, the boss of frozen food retailer Iceland, Richard Walker, told the BBC that unless the problems are resolved now, it could affect the all-important Christmas supplies.

“The driver shortage is impacting the food supply chain on a daily basis and leading to shortages on the shelves,” Walker said.

“We’ve had deliveries cancelled for the first time since the pandemic began, about 30 to 40 deliveries a day.”

British Meat Processors Association (BMPA) yesterday also said that supplies of Christmas favourites like pigs-in-blankets could be affected.

Industry groups say that training for new drivers is taking months, with a backlog of 40,000 missed HGV tests.

Walker says the solution is to add heavy goods vehicle (HGV) drivers to the skilled workers’ list, which would allow them to be recruited from overseas.

Walker said supply chain problems were a “self-inflicted wound,” from the handling of Brexit, “caused by the government’s failure to appreciate the importance of HGV drivers and the work they do for us.”

Retailers are starting to bring incentives to entice in drivers. Tesco has been offering lorry drivers a £1,000 ($1,370) joining bonus.

Morrisons and the Co-op have both said they will re-train staff to become lorry drivers.

Other high-street names, including McDonalds, Nandos, and Subway have been hit by supply problems in the last few days, caused by labour shortages in various industries.

The British Retail Consortium, along with haulage industry representatives Logistics UK, has also called for the government to change the HGV driver status to allow overseas recruitment, and to speed up testing.

Last week the government said it was bringing in plans to streamline the HGV licensing process and to increase the number of tests.

Yesterday, McDonald’s ran out of milkshakes in most of its UK restaurants.

There is also a broader shortage of labour, including for meat packing and fruit picking jobs.

Andrew Kuyk, the director general of the Provision Trade Federation, which speaks for the dairy and pig meat trade, told the Guardian that there was no problem with produce being made.

“Food is still being produced on farm and in factories, but it’s getting it to the consumer that is proving the challenge in lots of different ways,” he said. “There is a lack of lorry drivers, warehouse staff, staff in retail distribution centres, in the supermarket to put it on the shelves.”

end

UK/AFGHANISTAN/

total insanity!!

(zerohedge)

UK Defense Secretary Tells Afghans To Flee Across Borders Instead Of Going To Airport

 
THURSDAY, AUG 26, 2021 – 01:50 PM

Britain’s Defense Secretary Ben Wallace issued surprising and controversial statements during a meeting with members of parliament Wednesday. He urged Afghans who previously had been admitted to the UK on study or fellowship opportunities to escape by land across borders to a neighboring country rather than trying to make it to Kabul’s international airport at this point. 

“If they think they can make it to a third country, that may be a better option,” he was cited in The Guardian as saying. “I recommend that they try and make it to the border,” Wallace advised.

 

Source: Getty Images

He explained his rationale for offering the urgent directive, saying “it is higher profile going to the airport – that is where the Taliban will be focusing their efforts at the moment” – with the implication that the Taliban are actively trying to thwart the civilian rush to get to the airport, via lots of armed checkpoints.

“What we don’t want to do is trigger a surge or a stampede and we’ve already seen a number of people killed,” Wallace told the meeting further amid plans for continued airlifts, including non-British nationals who qualify under the Afghan Relocations and Assistance Policy (ARAP).

After Thursday’s double-bombing of crowded gates at the airport, there’s likely more Afghans that will take him up on the advice. One of the reported suicide attacks, now widely being blamed on ISIS-K terrorists, took place outside the Baron hotel, where the British army has a heavy presence and Afghan civilians are seeking entry for UK airlifts.

However, Afghanistan’s neighboring governments are likely not too pleased at such a top UK official actively telling Afghans to go directly to their countries. 

Afghanistan shares borders with Tajikistan, Turkmenistan, Uzbekistan Iran, Pakistan, and shares a tiny sliver with China.

Interestingly, Russia has of late helped Tajikistan and Uzbekistan in particular with border defense – even staging ‘counter-terror’ drills with both nations in recent weeks.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

END

ISRAEL/GAZA//IRAN

end
RUSSIA/CHINA/IRAN
 
END

AFGHANISTAN/TALIBAN//USA

 

END

TALIBAN//USA

24 California students on a summer trip stranded in Afghanistan as school officials are scrambling trying to locate the group

(zerohedge0

24 California Students On Summer Trip Stranded In Afghanistan, School Officials Scramble To Locate Group

 
WEDNESDAY, AUG 25, 2021 – 05:20 PM

Even in “better” times, Afghanistan is certainly an interesting place for a school summer trip for American students, and now dozens are said to be stranded there as the place unravels amid the US troop exit, American embassy closure, and civilian evacuations

More than 20 students and 16 parents from the Cajon Valley Union School District in El Cajon, Calif., visited Afghanistan on summer vacation. Now they are among thousands of people who are waiting to leave the country amid the chaotic U.S. withdrawal that has caused political unrest across the nation, according to the Los Angeles Times.

 

Students are from various schools in Cajon Valley Union School District. Image via Google Maps/NY Post

And making matters worse, it appears that community and school officials are only just now being made aware of it, and based on the latest briefing by White House Press Secretary Jen Psaki, the Biden administration may have little awareness of the school group’s exact whereabouts. Local San Diego reports put the total number of students stuck at 24.

All of this comes after Psaki herself claimed on Monday that there are no Americans stranded in Afghanistan, despite an avalanche of recent reports to the contrary. “I think it’s irresponsible to say Americans are stranded. They are not. We are committed to bringing Americans who want to come home, home,” Psaki said during the prior briefing.

The school year actually already commenced on August 17, and the group was expected home before that date, but likely were prevented from leaving as the Taliban advanced on the capital on “all hell broke loose” – resulting in the massive rush of panicked Afghans to the airport as the country collapsed.

And now on Wednesday there was this awkward exchange wherein it was clear Psaki had no clue as to the fate of the California students…

The school superintendent was widely quoted as confirming they remain stuck in Afghanistan as of late in the day Wednesday, and it’s uncertain where – or whether they are in Kabul:

Miyashiro told the news outlet that the families traveled to Afghanistan on special visas for U.S. military service and that the school district was able to provide government officials with information on the families as they work to locate them.

The trip was reportedly not sanctioned directly by the school, and was organized locally to enable students and their parents to visit relatives in Afghanistan. El Cajon in southern California has a large Middle East immigrant community.

According to reporting in The New York Post, “They are trying to make their way to the airport or board one of the US military flights out of Kabul before the Aug. 31 deadline to withdraw US troops arrives.”

It’s clear they’d better hurry, given also on Tuesday Pentagon Spokesman John Kirby said that while the US will keep trying to evacuate people from Kabul airport “until the last day” – it remains that it’s “up for the Taliban to decide” what happens after the Aug.31 troop pullout, indicating any remaining American’s fate would be deeply uncertain.

END

TALIBAN//LITHIUM DEPOSITS

This will hurt:  the Taliban now has the world’s largest lithium deposit and this will be essential in the years to come.

(zerohedge)

Taliban Secures World’s Largest Lithium Deposits After US Withdrawal From Afghanistan

 
THURSDAY, AUG 26, 2021 – 05:45 AM

It’s been more than a decade since we penned The US “Discovers” Nearly $1 Trillion In Mineral Deposits In Afghanistan” in which we highlighted the colossal untapped mineral deposits that reside in Afghanistan. 

President Joe Biden’s decision to rapidly and completely withdraw from Afghanistan makes even less strategic sense if readers go back to our 2010 post where we quoted “Confessions of an Economic Hit Man: Part 2, the 21st Century paradigm”? Which said, 

“Yet the American officials also recognize that the mineral discoveries will almost certainly have a double-edged impact. Instead of bringing peace, the newfound mineral wealth could lead the Taliban to battle even more fiercely to regain control of the country.”

We continued: 

“Which is why it will be best to have the US military not only stay in Afghanistan indefinitely but to get a million man reinforcement surge.”

Readers have known for a while Afghanistan was never about the opium trade or the war on terror but rather the massive deposit of minerals essential for renewable energies. 

So in the Economic Hit Man context, why would the Biden administration suddenly pull out of Afghanistan after 20 years if the play all along was about securing rare earth metals? 

We don’t want to speculate the Biden administration’s intentions, nor do we have any idea. Still, one thing is sure is that the Taliban now control the world’s largest lithium deposits is becoming friendly with China

Conservative media outlet Free West Media says new relations between the Taliban and China could increase its global dominance in green energies, such as the lithium-ion battery supply chain market. 

Unbeknownst to many, the blog points China and Afghanistan share a 130-mile stretch border. For more on this, here’s Free West Media’s latest piece titled “Taliban now control one of the world’s largest lithium deposits.” 

A Bloomberg New Energy Finance Limited report in 2020 highlighted China’s global dominance in the lithium-ion battery supply chain market, due to its grip on raw material mining and refining. In 2019, the US imported 80 percent of its rare earth minerals from China, while the EU states imported 98 percent of these materials from China.

China incidentally also shares a small border with Afghanistan called the Wakhan Corridor – 210km long. While the length of the border may appear insignificant, its location is crucial. Afghanistan is believed to have large deposits of gold, iron, copper, zinc, lithium and other rare-earth metals, valued at over $1 trillion. “Afghanistan may hold 60 million metric tons of copper, 2,2 billion tons of iron ore, 1,4 million tons of rare earth elements (REEs) such as lanthanum, cerium, neodymium, and veins of aluminium, gold, silver, zinc, mercury…” according to a 2020 report in The Diplomat.

But the Wakhan Corridor has been used by Islamic Uighur militants opposed to Chinese rule in Xinjiang. Chinese officials meeting with the newly installed Taliban are certainly aware of the risk that radical Islamists pose: “We hope the Afghan Taliban will make a clean break with all terrorist organisations including ETIM (East Turkestan Islamic Movement) and resolutely and effectively combat them to remove obstacles, play a positive role and create enabling conditions for security, stability, development and cooperation in the region,” said a high-ranking Chinese official.

Why is this important?

Global demand for lithium is projected to increase 40-fold by 2040, according to the International Energy Agency, along with rare earth elements, copper, cobalt, and other minerals also abundant in Afghanistan. And these minerals happen to be concentrated in only a small number of pockets around the world.

The Bolivian Andes may contain 70 percent of the planet’s lithium, and many analysts argue that extracting lithium from brine as in Bolivia is more environmentally friendly than extracting it from rock.

Interestingly, metallic lithium and its complex hydrides are used as high-energy additives to rocket propellants, thermonuclear weapons, or even as a solid fuel.

In 2010, the US Department of Defense called Afghanistan “Saudi Arabia of lithium” after American geologists then discovered that the country’s deposits amounted to at least a trillion dollars. Lithium is an essential ingredient to produce long-lasting batteries used in electric cars in particular. The battery of a Tesla Model S, for example, has about 12 kilograms of lithium in it.

Ten years later, these metals have not yet been extracted. The Taliban is unlikely to sell the metal to Americans, and the United States views China, the world’s largest lithium producer, as its main rival. And the US wants at least 40 percent of its cars to be electric by 2030. Thus the previous US-led government in Kabul had hoped that the promise of mineral wealth would entice President Trump into making a commitment to stay in the country.

“Afghanistan can be an appropriate place for US industry, and specifically the mining sector, to look at opportunities for investment,” Mohammad Humayon Qayoumi, the former chief adviser to Afghan President on infrastructure, human capital, and technology, once opined.

But Tom Benson, a PhD in the Department of Geological Sciences at Stanford University, has focused his research on a 16,3 million-year-old supervolcano on the Oregon-Nevada border which contains the largest lithium deposit in the United States. A number of other active volcanoes may hold the same deposits, and there is a particularly “exciting” one, called Bogoslof, in Alaska. That may be why the US has lost interest in Afghanistan.

“The Taliban are now sitting on a stockpile of one of the most strategic minerals in the world,” said Rob Schoonover, an ecology expert at the US think tank Center for Strategic Risks, in an interview with Quartz. “The question of whether they will be able to play this role will be important in the future.”

Could the Taliban benefit from this resource?

The exploitation of these rare earth metals could undoubtedly give the Taliban an economic advantage. Before the US retreat, the Afghan government had considered selling lucrative mining contracts to American companies. But such agreements were always discussed with the view of keeping the US military in the country and sharing the spoils. With the Taliban now leading the government, the option of involving American mining concerns is of course out of the question.

“As long as there are safer and more reliable sources (of metals, note) elsewhere, the use of Afghan minerals will remain low,” said Schoonover. However, the Taliban already have experience in extracting rare stones. By mining lapis lazuli, the Taliban earns at least $300 million per year.

Ashraf Ghani, the Afghan president now in exile, thought that the abundance of mineral deposits were a curse for his country. Indeed, many economists are aware of the fact that such rich deposits in developing countries generally become a source of corruption and violence, to the detriment of the locals.

The Taliban will have to find a way to participate in the global lithium trade, much larger than their lapis lazuli trade. Access to Afghan central bank reserves has been denied to the Taliban by the US. The new Afghan leadership could also have trouble in convincing Chinese investors who once lost $3 billion in 2007 in a Taliban copper mine that could not be exploited due to persistent administration blunders.

However, good reason for China to become involved in the extraction of lithium in Afghanistan may not only be the wealth it could generate, but also to avoid more ecological damage caused by lithium mining on its own soil and to limit the scope of Islamic infiltration. The extraction of this metal leads to water shortages and air pollution, but the rewards could coax Taliban leaders into addressing the Uighur headache.

So the question we ask readers: Did the Biden administration just give away Afghanistan’s rare earth minerals to China? There’s no way in hell that the Taliban will let Western countries mine the land. This would suggest China could soon secure mining deals and start extracting lithium, putting the country ahead of the US in the green energy space. 

end

AFGHANISTAN//USA

This is a must read;  Tom Luongo discusses what might happen in the USA in the next several months:

Biden and Harris to step down and be replaced by Janet Yellen.  Janet Yellen is a little smarter than Biden but not by much

Tom Luongo.

Luongo: Kabul ‘Planned Chaos’? Who Does Davos Turn To After Biden?

 
WEDNESDAY, AUG 25, 2021 – 10:20 PM

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

With the collapse of Afghanistan and the clear inability of Joe Biden to handle the situation the clock is winding down quickly on The Davos Crowd to figure out how to keep things from going completely off the rails.

Opposition to mandatory vaccination and the public use of private medical data is rising far quicker than they anticipated. It’s exposing the extent of the uselessness of the people installed by them in places of power around the world to effect the Great Reset.

From New Zealand to Canada, France to the White House, Davos thought they could basically pull an Emperor Palpatine and just ‘make The Great Reset legal’ and it would all work itself out. That is clearly not happening.

The stories coming out of Australia are as deeply disturbing as Biden’s bungling the retreat from Afghanistan. It highlights how quickly petty tyrants have turned into inhuman killers of the defenseless, i.e. rescue dogs in Australia.

But, then again, this is the fundamental problem with collectivists of all types. They hate those things they want to protect. The same people criminalize ‘animal abuse’ then lobby for, fund and create through taxes doggie concentration camps at the local county run shelter.

Life to them is cheap. So cheap that they abstract the value of it to zero in order to justify their lust to rule over others, masking their fear of a hostile and unpredictable world. What’s being done to dogs in New South Wales will escalate to unvaxxed humans if this isn’t stopped in its tracks.

Once the dehumanization starts it doesn’t end until the tyrants are overthrown and defeated. Moreover, when one group is pushed to the brink of extinction that puts them in the position to fight back harder than they have ever fought back before.

Existential threats are like that.

So, heaven help the tyrants Down Under, because there is a special place in Dante’s EZ-Bake Oven (H/T Dennis Miller) for people who gas rescue dogs.

To Every Season, Churn, Churn, Churn

The point of this is that this rising opposition to the New Normal as promoted by Davos is forcing an acceleration of their plans. I’ve talked about this before. And when you see a 180 degree shift in a media narrative you have to take it seriously.

Because it means something significant has changed.

The media and most of D.C. has turned on Biden in a complete 180, just like they did on the COVID-9/11 lab leak theory once it became useful for Davos to do so and Dr. Fauci was caught by Rand Paul red handed lying to Congress.

Now, I believe strongly that the mess in Kabul was planned chaos.  

It was designed to make the U.S. look like a bunch of bungling morons. I’ll lay aside, for now, the reality that the messy pull-out from Afghanistan was meant to sow chaos there, leaving behind billions in weapons to re-arm ISIS/Al-Qaeda to snipe at the Taliban and frustrate their ability to form a government.

Biden has been set up to take the blame for this. He’s neither prepared for it nor even capable of processing the speed at which this is happening. It’s almost like he’s as lost in The Churn from James S.A. Corey’s The Expanse series as the rest of us have been. To remind you …

… The Churn is that moment when, “the rules of the game change.” Which game?

Amos: {from The Expanse} “The only game. Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.”

Embedded in Amos’ idea of The Churn, however, is that while the rules change, society itself keeps on keeping on. So many people right now are trying to analyze the political situation in terms of The Churn, the normal ebb and flow of who has the upper hand in the power struggle.

So, from where I’m sitting the game has changed and who has the upper hand is the key to our surviving it or not.

Back to Biden, because he clearly isn’t a guy who will survive this. If he hadn’t spent his one lifetime in service of the most venal forms of corruption I’d almost feel sorry for him because elder abuse is an awful reflection on any society, just like gassing rescue dogs is. But, like I said, we’re dealing with people who have no soul, no center and only the unquenchable envy that resides in those without those things searching for meaning in their meaningless existence.

So, Biden is not long for this life in the public eye. He is quickly being pushed out of the picture, another dog put down to pave the road to global serfdom.

I Think I’m Turning Euro-cheese

Now, in contrast, have you noticed how the UK, France and Germany are all getting the big pass on getting their people out of Kabul even though they were in the know about the situation there?

Have you noticed the desperate bleats from people like Tony Blair and EU Foreign Minister Josef Borrell about the loss of Afghanistan?

Obviously, this is meant to distract from rising civil unrest at home, but the real takeaway is to further divide Europe from the US on everything

In their power-soaked, globalism-addled minds, how can Davos’ ideas survive if it can’t milk the U.S. tax-cow to spend trillions on protecting their interests in central Asia?

Boris Johnson’s government just voted to hold Biden in contempt for his Afghanistan debacle.

Biden’s team mismanaged the Afghanistan retreat knowing full well what was likely to happen. The knives are already out for his National Security Adviser Jake Sullivan, Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin.

Macron, Merkel, the truly feckless British all knew the situation in country. Admitting Biden’s failure in Afghanistan is the one thing neocons and neoliberals truly agree on.

So their turning on him through the media reveals clearly the rules of the game have changed again.

At the same time, Alex Mercouris was correct in his assessment that Kamala Harris is also being sidelined because she’s not in Afghanistan or at least overseas coordinating with these foreign allies to work through the situation and get the Americans trapped there out.  

She’s in Singapore and Vietnam getting hammered by the press and laughing about Americans being left behind.

What’s on display here is the tired old narrative, “We do everything better than the Yanks.” This also helps lessen the blow to the cognitive dissonance the Leftards are going through as this thing falls apart. They are rapidly coming to the conclusion that they ‘elected’ a sundowning fungus for President over a guy they hated for no other reason than because they were told by the very architects of this Afghanistan tragedy that he was a Nazi.

The programming is deep folks, on both sides of the political aisle.

There are plenty waking up but it may not be enough before everything explodes.  I’m serious now.

We are in the early moments of stage-managing Biden’s exit speech. But since we’ve also entered into a new game, the old rules don’t necessarily apply.

The big question now is, what happens next?

Kamala Chameleon

I have to believe Davos has already calculated what their best course of action is. I’m going to start by stating I don’t think Kamala Harris is the answer for them, unless the goal is for the next president to be so thoroughly hated by an angry, confused America that the country literally tears itself in two.

The problem is she may be the biggest problem they have now, because she’s not on anyone’s team but Team Harris and I think that’s why she’s in Singapore now to see if she can curry the right favors and be allowed to take over.

Getting rid of Biden will not be difficult at this point.

So, Harris, while she is hated by everyone, is also uniquely unqualified for the job as president. That being said, she’s not unqualified at being a schemer and a power-seeker. She and Obama must get along famously.

That said, I’m sure she’s game-planned out her course to the Presidency even if Davos, who, in my read, may want something different. Someone in these post-Churn times who is more predictable.

If public outrage over Afghanistan reaches any kind of fever pitch, because of, say, Benghazi-like images of Americans getting shot and dragged through the streets of Kabul blaring nightly on what passes for news in the U.S., then Biden will have to resign.

If we add in definitive proof through the audits that the Democrats cheated in the election during this, then we have maximum chaos and Harris doesn’t survive that either. Remember, Davos used the pivot on COVID-9/11’s origin to foment anti-China sentiment in the U.S.

Using the audits to pivot and delegitimize Harris at the same time seems both in character and very possible.

Now why wouldn’t that mean a restoration of Trump? Well, has the Supreme Court done anything notable since Davos put their full-court press on last summer?

When I say I think the U.S. is being liquidated, I’m serious folks.

I don’t see Kamala Harris, the ultimate political diversity hire, surviving that. In fact, the Democrats would be in complete disarray if the audits began causing real ground-level unrest. The mid-terms are already a lost cause. So, time is of the essence to get this operation done.

Maybe I’m being too reductionist here as Harris has plenty of cards to play within the Democratic party apparatus, but only if her position is considered legitimate and only if the Democrats are more than two steps ahead of the lynch mob.

25th Amendment Nervous Breakdown

That said, if we see a 25th Amendment challenge to Biden’s competence then all roads lead to President Harris, it’s the way the 25th reads, unless there’s no Vice-President. Harris would have to resign first, and she’s done nothing that would prompt that. In fact, her distancing herself from Afghanistan is the smartest move I’ve seen her make.

That leads to the expected scenario which is Harris ascends to the Presidency and likely choosing Speaker Nancy Pelosi to be Vice-President and President of the Senate. To get her confirmation through Nancy will make a deal with Mitch McConnell and that’s that. It’ll be a good deal for the Republicans.

Nancy gets the gold ice cream freezer and two more years in D.C. versus the one year left on her likely last term in Congress. At the same time, McConnell knows he’s neutering her when the Republicans win the mid-terms (assuming they happen at all). She lives the dream as the 2nd female Vice-President.

But, if Biden steps down in disgrace because of the combination of election fraud, Afghanistan and something else we haven’t game planned out yet, then Harris will have to go with him.

At that point things get weird. Going through the list of Democrats who could fit the bill available under that scenario is problematic because it’s so short it’s practically non-existent.

And if Harris is going to resign as well under threat of impeachment, then Biden’s last act as president would be to appoint a new vice-president per the 25th Amendment. resigned before Nixon did, which allowed him to nominate Gerald Ford who was confirmed, took office and pardoned Nixon.

Here are the relevant portions of the 25th Amendment.

Section 1In case of the removal of the President from office or of his death or resignation, the Vice President shall become President.

Section 2Whenever there is a vacancy in the office of the Vice President, the President shall nominate a Vice President who shall take office upon confirmation by a majority vote of both Houses of Congress.

So, if history repeats and Biden resigns alongside an unacceptable-to-Davos Harris then Biden’s last act will be to nominate a new Vice-President who then assumes the Presidency. And here I contend that Nancy Pelosi will not become the first female president.

They need someone competent to run things, young enough to last through the term and, most importantly loyal to Obama and Davos.  This person cannot spark revolt from the normies nor be overtly partisan to those in ‘Flyover Country.’

The goal is a neutral person who no one has a strong opinion on but who is well-versed in the ways of things which matter.

Hillary is out.  She’s depreciated goods. Davos has no use for her.

Pelosi is out because she would never survive a majority vote of the Senate. Mitch McConnell, who would see this as the ultimate opportunity to break the Democrats permanently for the next generation, might actually smile.

I don’t even see her wanting the job at this point. She’s got ice cream dreams.

So who does that leave?  No one who ran for President in the primaries.  They were all clowns, except for Tulsi Gabbard of course, but she’s out of politics in a rare showing of humanity by someone who spent time in D.C. The rest were chosen specifically to get us to a Biden/Harris or Harris/BetaCuck ticket.

This person can, however, be wholly unacceptable in the same corners of the U.S. population which is already being herded into the status of “domestic terrorist” and “sub-human semi-citizens”… that’d be libertarians, constitutionalists, refuse to get the vaccine and who see globalism for the corporatist nightmare it truly is…. in short, people like you reading this article.

Mitch McConnell would love nothing more than to stick it to us after what happened on January 6th. He gets to play kingmaker of a ‘neutral’ candidate.

Dammit, Janet Davos Loves You!

So who is this person? The answer came to me in a flash while replying to someone on Twitter and I’m ashamed to admit it took me this long to see it.

The answer, of course, is Treasury Secretary Janet Yellen.  Ticks all the boxes.

Female, seemingly apolitical, knows her way around Washington, former head of the Fed and a Davos troll to the tips of her fingernails.

And, just to put the cherry on top of this theory, she is the only person who could credibly stand up to Jay Powell at the Fed who has clearly gone off the Davos reservation by defending the dollar and the Fed. Per my last article, if the Fed is truly fomenting a dollar crisis to reassert its primacy in the pantheon of central banks, then Yellen would be the one person who would complete the Davos coup by firing Powell, neutering the Fed and ending the chaos created by Biden.

Davos has to reassert control here and restore our faith in The Churn. Yellen is just the person to make sure all of that happens.

I know what you’re thinking, though, it seems a stretch to put an unelected central banker at the head of a powerful country? What are you smoking, Tom?

I told you the Central Bankers were coming!

So, expect President Yellen in the next six months, effectively appointed by Davos like Mario Draghi was appointed in Italy. They don’t have a lot of time to pull any of this off, no less getting Biden out of office.

With President Yellen, the central banker takeover of the West would be complete with this arrangement.  I don’t know if it’d work out the way Davos plans, but it’s the cleanest solution to their current problem I see.

For this reason alone, I think this is the most likely scenario as things are quickly escalating with Biden.

If you don’t like it, there’s a dog kennel with your QR code on it.

*  *  *

end
 
KABUL APIRPORT//TALIBAN/TURKEY
USA allies halt evacuations form Kabul airport over another imminent ISIS threat. Taliban ask Turkey for help administrating the airport. Remember that ISIS has acquired courtesy of the USA huge amounts of weaponry left behind.
(zerohedge)

US Allies Halt Evacuations From Kabul Airport Over Another “Imminent” ISIS Threat

 
 
THURSDAY, AUG 26, 2021 – 07:00 AM

Update (0745ET): A spokesman for the Taliban has just revealed to the Russian press that the Taliban warned the west about the supposedly “imminent” ISIS threat lurking outside the Kabul airport.

Here’s more from RT, the outlet that broke the story.

Zabihullah Mujahid, who holds the office of Information Minister in the Taliban-installed government in Afghanistan, told the Russian media that his organization was the source of the information. The threat was not specific, he said in an interview, but the plan was to provoke chaos and violence at the airport and hurt the Taliban’s reputation.

“Over the last 20 years we have learned things and changed,” the official said in the interview. “We want to prove that we are not what anti-Taliban propaganda has portrayed us to be. We want to show that to the world.”

So, we’re just taking the Taliban at their word now? Sounds reasonable enough…

* * *

Once again, the US, UK and France are warning that ISIS might carry out an attack – perhaps a suicide bombing – at the Kabul airport to target crowds of departing westerners, and have thus halted evacuations once again on Thursday. This is particularly troubling news for more than 1,000 Americans who have yet to be evacuated, as well as the thousands of Afghans with special immigrant visas who will likely be left behind to face the wrath of the Taliban.

According to the NYT, several European nations announced on Thursday that they planned to halt their evacuations from Kabul airport following reports of the ISIS threat, despite the looming Aug. 31 deadline (which the Taliban have insisted must be met or the west will face “consequences). President Biden has reportedly been briefed on the matter.

Belgium, the Netherlands and Denmark all said they would no longer be able to facilitate airlifts from the Hamid Karzai International Airport, which continues to be surrounded by crowds of thousands of desperate Afghans (and foreigners) struggling to get through. The US embassy warned Americans on Wednesday to “leave immediately,” and stay away from the airport.

The UK and Australia issued similar warnings, with Australians describing an “ongoing and very high threat of terrorist attack”.

The warnings came as the last of the estimated 1.5K Americans and countless other foreigners still in Afghanistan scramble to board the last flights out of the country before the US withdrawal is officially complete on Aug. 31. Thousands of Afghan nationals are camped outside the perimeter of the airport in desperate attempts to escape on the last flights out, some with the special visas allowing them to leave.

Then again, we can’t help but wonder: is this “threat” actually credible? Or merely an excuse for Biden & Co. when they inevitably fail to get everybody out in time.

A senior U.S. official, who spoke on the condition of anonymity about confidential assessments, told the NYT that the US is monitoring a “specific” and “credible” ISIS threat. Apparently, ISIS has carried out dozens of attacks in Afghanistan in recent years (and a regional ISIS leader was one of the few prisoners executed by the Taliban following their takeover).

British armed forces minister James Heappey told the BBC radio that intelligence of a suicide bombing by ISIS had become “much firmer” since the weekend.

“I can’t stress the desperation of the situation enough. The threat is credible, it is imminent, it is lethal. We wouldn’t be saying this if we weren’t genuinely concerned about offering Islamic State a target that is just unimaginable,” Heappey said.

Australia also issued a warning for people to stay away from the airport while Belgium ended its evacuation operations because of the danger of attack. The Dutch government also issued a warning and said it expected to carry out its last evacuation flight on Thursday, leaving behind some who are eligible to travel to the Netherlands.

But despite the warnings, a Western diplomat in Kabul told Reuters that the areas outside the airport gates remained “incredibly crowded”.

Even the Taliban are reportedly worried about the prospect of an ISIS attack.

“Our guards are also risking their lives at Kabul airport, they face a threat too from the Islamic State group,” said a Taliban official, who spoke on condition of anonymity.

Civil aviation official Ahmedullah Rafiqzai told Reuters that people continued to crowd around the gates despite the attack warnings because “[p]eople don’t want to move, it’s their determination to leave this country that they are not scared to even die.”

An attack would put the remaining western forces in Afghanistan in a difficult position, since they’re not exactly prepared to attack or defend anything, or anyone.

“Western forces, under no circumstances, want to be in a position to launch an offensive or a defensive attack against anyone,” the diplomat added.

11 days have passed since the Taliban swept into Kabul, and in that time, the US and its allies have mounted one of the biggest air evacuations in history, bringing out more than 88K people, including 19K on Tuesday alone, out of the country. The American military says planes are taking off roughly every 39 minutes on average.

And as the evacuation winds down, western reporters have continued to report on rumors out of Panjshir, a mountainous district not far from Kabul where the last remnants of Taliban opposition have gathered. The Taliban claim their fighters are working on getting the situation under control, but on Thursday, the Huffington Post published a story about the “National Resistance Front” – a group made up of former Afghan National forces hiding out in the mountains.

At least 1,000 displaced people are currently hiding in the area. But it’s not clear how many soldiers are there to actually fight the Taliban, which already has 75K fighters.

The resistance is reportedly being led by Ahmad Massoud, son of the late Ahmad Shah Massoud, the famous guerrilla commander who helped fight off the Soviets.

Massoud is so brazen, he published an op-ed in the Washington Post last week calling for aid to the mujahideen resisting the Taliban.

Of course, Americans of a certain age likely remember how well arming the last two rounds of anti-government resistance fighters worked out for the US.

END

Taliban Ask Turkey For Help To Run Chaotic Kabul Airport

 
THURSDAY, AUG 26, 2021 – 02:45 AM

The chaotic airport is currently the locus of unprecedented chaos (not to mention a makeshift, and temporary, US embassy), but Afghanistan’s new rulers, the Taliban, are already looking beyond Aug 31 when the US is scheduled to evacuate its domestic presence, and according to Reuters they have asked Turkey for “technical help” to run the Kabul airport even as they demand that Ankara’s military also withdraw fully by the end-August deadline.

 

Crowds of people are seen on the tarmac at Kabul’s airport in Afghanistan August 16, 2021

The conditional request by the Islamist Taliban leaves Ankara – a current NATO member – with a difficult decision over whether to accept a hazardous job, a Reuters source said.

The mainly Muslim Turkey was part of a NATO mission in Afghanistan and still has hundreds of troops at Kabul airport. The officials say they are ready to withdraw at short notice. But President Tayyip Erdogan’s government has said for months that it could keep a presence at the airport if requested.

“The Taliban have made a request for technical support in running Kabul airport,” a senior Turkish official confirmed, adding however that the Taliban demand for all Turkish troops to leave would complicate any prospective mission. After the Taliban seized control of the country Turkey offered technical and security assistance at the airport.

“Ensuring the safety of workers without the Turkish Armed Forces is a risky job,” he said, speaking on condition of anonymity. Talks with the Taliban on the issue were ongoing and, in the meantime, preparations for a troop withdrawal had been completed, he said.

Reuters notes that it was unclear whether Turkey would agree to give technical assistance if its troops were not there to provide security. Another Turkish official said a final decision would be made by the Aug. 31 deadline for foreign forces to leave the country and end a 20-year military involvement in Afghanistan.

Keeping the airport open after foreign forces hand over control is vital not just for Afghanistan to stay connected to the world but also to maintain aid supplies and operations. “It’s going to be a critical lifeline for the humanitarian action in Afghanistan,” Mary Ellen McGroarty, World Food Programme director in Afghanistan, said last week.

That said, even if the Taliban manage to keep the airport open – it’s not immediately clear just how vibrant the Afghani tourism industry will be for the foreseeable future – the country faces a catastrophic humanitarian crisis, not to mention capital controls, economic collapse, hyperinflation, and a defunct currency. Since Turkey has experience with all of these, maybe Erdogan should just take over as lead economic advisor to the country.

end

 

6.Global Issues

CORONAVIRUS UPDATE

We told you this will happen: breakthrough infections are rising among the fully vaccinated

(Julie Steenhuysen/Reuters)

U.S. data show rising ‘breakthrough’ infections among fully vaccinated

 
 

 

By Julie Steenhuysen

CHICAGO (Reuters) – Some 25% of SARS-CoV-2 infections among Los Angeles County residents occurred in fully vaccinated residents from May through July 25, a period that includes the impact of the highly transmissible Delta variant, U.S. officials reported on Tuesday.

The data, published in the U.S. Centers for Disease Control and Prevention’s weekly report on death and disease, shows an increase in so-called “breakthrough” infections among fully vaccinated individuals.

The CDC is relying on data from cohorts, such as the Los Angeles County study, to determine whether Americans need a third dose of COVID-19 vaccines to increase protection. Government scientists last week laid out a strategy for booster doses beginning on Sept. 20, pending reviews from the U.S. Food and Drug Administration and the CDC.

The new data released on Tuesday involved more than 43,000 reported infections among Los Angeles County residents aged 16 and older. Of them, 10,895, or 25.3%, occurred in fully vaccinated persons, 1,431, or 3.3%, were in partially vaccinated persons, and 30,801, or 71.4%, were in unvaccinated individuals.

The vaccines did, however, protect individuals from more severe cases. According to the study, 3.2% of fully vaccinated individuals who were infected with the virus were hospitalized, just 0.5% were admitted to an intensive care unit and 0.2% were placed on a ventilator.

Among the unvaccinated who fell ill, 7.5% were hospitalized, 1.5% were admitted to an intensive care unit and 0.5% required breathing support with a mechanical ventilator.

In addition to the LA County data, the CDC on Tuesday released an update on the HEROES cohort study among healthcare workers that showed a significant drop in vaccine effectiveness among vaccinated frontline workers in eight states who became infected with the coronavirus.

Vaccine efficacy during the period of the study when Delta was predominant fell to 66% from 91% prior to the arrival of the Delta variant, according to the report.

(Reporting by Julie Steenhuysen, Editing by Mark Porter)

 
 
end
 
Amazing:  Arkansas is protecting inmates from the jab.  They are treating them with ivermectin
 
(special thanks to Milan Sabioncello for sending this for us):

Ivermectin Arkansas jail

 
 
 

Milan Sabioncello

7:45 AM (3 minutes ago)

 

 
to me
 
 
 
 
 
 
 
(special thanks to Robert H for sending this to us;)

More Vaccine Bloodwork: Blood Cells Reportedly Clotting After Vaccine

 
 
My god, what is happening to people?
What it not said here is which type of vaccination.
What is obvious is that where this occurs, activity and health levels of the person will diminish, especially if they are older with underlying conditions.
I wonder if anyone has considered the social and economic cost of increasing numbers of people with conditions occurring in a short timeframe.
With various elements colliding including increased health issues the future is not controllable by anyone. Rather the future will be shaped by events in motion where we will adapt to changing conditions or be swallowed by them. This is why people like the marxists we see in society always fail, as they think they can control the future. They have always been proven wrong in history and never learn.

 

https://www.bitchute.com/video/XhLaVUT9tGIw/

end
 
From my son Mark:
 
 

Oxford University study finds fully vaccinated Healthcare workers carry 251 times viral load compared to the unvaccinated proving the Covid-19 jabs make you worse

 
 
 
 
 
 
 
Michael Every on the major stories of the day!
 
 
 
Michael Every….
off this week
 

end

 

7. OIL ISSUES

 

END

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////COVID/VACCINES

Despite the huge draconian lockdowns and travel restrictions, cases and hospitalizations increasing.

special thanks to Robert H for sending this to us…

Even with draconian lockdowns and travel restrictions, Australia’s covid “cases” are now skyrocketing… is the science WRONG? – NaturalNews.com

 
 
 
This should be the wake up call to the world that lockdowns and destruction of society does not work. Politicians should take note because lockdowns cause severe economic and social damage.
Yesterday, Germany temporary halted vaccinations subject to further testing due to recorded fallout from the vaccinations. Why, because there is a real concern to availed skilled labor that maybe impacted by these vaccinations. Today, Austria is telling Russia that they will always be part of Europe and trade needs to increase not decrease between them. A clear indication of recognizing market need to offset a lower local consumption level which is due to previous ill advised political decisions that now require action to be corrected. And economic  realities trump political agendas if politicians wish to retain their positions.
Today, on Paris streets people are eating on blankets in front of near empty cafes. The Paris of yesterday is dying. The left bank is no more. Sadly, I doubt Paris will recover anytime soon. Demonstrations are growing across all of France, leading one to ponder what will happen to their economy. Once you break businesses, businesses no longer contribute to the velocity of capital movement with a nation eroding the ability of a nation to function as it once was. Clearly, France will lose standing as a force in the EU. It is only a matter time now to watch what happens. Capital even within the EU is already shifting.
Patience to observe, makes one think carefully about long term implications to capital safety and velocity because it pertains to capital returns. Capital investment is not a short term exercise. Capital invested into real estate or plant and equipment can not move quickly and decisions to invest or not is carefully considered. And one should recognize that ill advised political decisions will affect economies for a long time altering future outlook not just for the nations but for the people who live there.

 

https://www.naturalnews.com/2021-08-25-even-draconian-lockdowns-australias-covid-cases-skyrocketing.html

end

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

Euro/USA 1.1776 UP .0004 /EUROPE BOURSES /ALL RED  

USA/ YEN 109.07  UP  0.076 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3742  DOWN   0.0022  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2606  UP .0017  (  CDN DOLLAR DOWN 17 BASIS PTS )

 

Early THURSDAY morning in Europe, the Euro IS UP BY 4 basis points, trading now ABOVE the important 1.08 level RISING to 1.1776 Last night Shanghai COMPOSITE CLOSED DOWN 38.72 PTS OR 1.09%

 

//Hang Sang CLOSED DOWN 278.26 PTS OR 1.08%

 

/AUSTRALIA CLOSED DOWN 0.50-% // EUROPEAN BOURSES OPENED ALL RED 

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL RED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 278.26    PTS OR 1.08% 

 

/SHANGHAI CLOSED DOWN 38.72  PTS OR 1.09% 

 

Australia BOURSE CLOSED DOWN 0.50%

Nikkei (Japan) CLOSED UP 17.49 pts or 0.26% 

 

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1789.10

silver:$23.70-

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

The 30 yr bond yield 1.960 UP 1  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 92.87 UP 5  CENT(S) from WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  THURSDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.20%  UP 1  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.021%  UP 0/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

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

ITALIAN 10 YR BOND YIELD:  0.67  UP 0   points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 36 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO –.406% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.08% 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  THURSDAY

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

Euro/USA 1.1759  DOWN    0.0012 or 12 basis points

USA/Japan: 110.09  UP .113 OR YEN DOWN 11  basis points/

Great Britain/USA 1.3711 DOWN .0053 DOWN 53   BASIS POINTS)

Canadian dollar DOWN 68 basis points to 1.2657

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED DOWN).. 6.4815 

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED DOWN)..6.4796

TURKISH LIRA:  8.37  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.021%

Your closing 10 yr US bond yield UP 3 IN basis points from WEDNESDAY at 1.364 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.949 UP 3 in basis points on the day

 

Your closing USA dollar index, 93.01 UP 19  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 THURSDAY: 12:00 PM

London: CLOSED DOWN 25.14 PTS OR 0.35% 

 

German Dax :  CLOSED DOWN 67.04 PTS OR 0.42% 

 

Paris CAC CLOSED DOWN 10.45  PTS OR  0.16% 

 

Spain IBEX CLOSED  DOWN 84.70  PTS OR  0.94%

Italian MIB: CLOSED DOWN 198.75 PTS OR 0.76% 

 

WTI Oil price; 67.58 12:00  PM  EST

Brent Oil: 71.55 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    74.19  THE CROSS HIGHER BY 0.28 RUBLES/DOLLAR (RUBLE LOWER BY 28 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.406 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 : 67.84//

BRENT :  71.50

USA 10 YR BOND YIELD: … 1.3699.. UP 5 basis points…

USA 30 YR BOND YIELD: 1.951  UP 3 basis points..

EURO/USA 1.1771 UP 0.0018   ( 18 BASIS POINTS)

USA/JAPANESE YEN:109.99 UP .267 ( YEN DOWN 27 BASIS POINTS/..

USA DOLLAR INDEX: 93.05  UP  22  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3699  DOWN .0065  

the Turkish lira close: 8.39  DOWN 1 BASIS PTS

the Russian rouble 74.23   DOWN   .31 Roubles against the uSA dollar. (down 31 BASIS POINTS)

Canadian dollar:  1.2683 UP94 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.407%

The Dow closed DOWN 192.38 POINTS OR 0.34%

NASDAQ closed DOWN 90.40 POINTS OR 0.59%

VOLATILITY INDEX:  18,85 CLOSED UP 2.05

LIBOR 3 MONTH DURATION: 0.124

%//libor dropping like a stone

USA trading day in Graph Form

Stocks Slump On Kabul Blast, Kaplan Banter, & Crappy Data

 
THURSDAY, AUG 26, 2021 – 04:00 PM

Initial and continuing claims unexpectedly rose, GDP missed expectations with consumption weaker than expected, multiple f**king bombs went off in Kabul killing and injuring 100s, and Fed Speakers Bullard, George, & Kaplan all came out hawkishly pitching a taper earlier than the market wants…

  • *BULLARD: FINANCIAL STABILITY CONCERNS A GOOD REASON TO TAPER

  • *BULLARD SAYS FED SHOULD `GET GOING’ ON TAPER, FINISH IN 1Q 2022

  • *KAPLAN: CONCERNED BY UNINTENDED IMPACT OF FED BOND BUYING

  • *KAPLAN SAYS PREFERS TO CONDUCT TAPER IN PLUS OR MINUS 8 MONTHS

Kaplan is most notable (Bullard has been hawkish for a while) as just last Friday, Kaplan said may delay taper due to Delta, but now he appears to have reversed that more dovish lean.

But apart from that, dip-buyers still kept charging in during the day – terrible news is great news for markets right!? WTF is wrong with us.

Stocks did get real into the last hour as The Pentagon laid out the grisly details of what had occurred. Small Caps were hardest hit all the majors ended the day down hard…

It appears the short-squeeze is over as “Most Shorted” stocks – despite yet another attempt at the open, and at the European close to stage a ramp – ended lower on the day…

Source: Bloomberg

Short-term VIX spike dramatically relative to far-term VIX after a week of confident compression into tomorrow’s J-Hole speech…

Source: Bloomberg

Treasury yields roller-coastered on the day, but ended mixed with the long-end outperforming (30Y -1bps, 5Y +2bps) ahead of tomorrow’s likely vol-splosion from Powell…

Source: Bloomberg

The dollar rallied off support once again today…

Source: Bloomberg

Crypto was weaker today with Bitcoin sliding back to around $47,000…

Source: Bloomberg

Gold rallied up to $1800 intraday but faded back, but did end higher on the day…

Oil prices were very choppy today – war premium or no war premium? – with WTI testing down towards $67…

Finally, as the world and their pet rabbit contemplate Powell’s words tomorrow and whether ending The Fed’s balance sheet expansion should be done sooner than later, consider that maybe, just maybe QE ain’t f**king doing anything for the real economy…

Source: Bloomberg

But then again, what does that matter? All that appears to be on the minds of this new generation is stimmies in ma pocket and record highs for stonks…

Source: Bloomberg

This will not end well!

 

MORNING TRADING

A blast at the airport:

Stocks Slammed After Kabul Blast, VIX Spikes

 
THURSDAY, AUG 26, 2021 – 10:30 AM

Just as everyone was settling on for the long sleep through tomorrow’s J-Hole speech from J-Powell, a blast at Kabul’s airport has catalysed some fear and sent VIX exploding higher…

And that has sent stocks tumbling…

Gold also jumped on the reports…

Is this the beginning of the “instability cascade” that BofA warned about?

i) Important  data//morning/

Not good for the USA: the number of Americans still on the dole move back above 12 million

(zerohedge)

Total Number Of Americans On The Dole Rebounded Back Above 12 Million Last Week

 
THURSDAY, AUG 26, 2021 – 08:37 AM

Initial jobless claims rose very modestly last week from 349k to 353k, but remains very close to post-COVID-lockdown lows…

Source: Bloomberg

However, while continuing claims fell very modestly last week from 2.865mm to 3.862mm, it was worse than the 2.777m expected.

The number of Americans on Pandemic emergency aid has dropped notably as handouts have been suspended in various states, but over 8.6 million remain on that dole (with over 10 million job openings)…

Source: Bloomberg

The total number of Americans on some form of government jobless handout rose last week, back above 12 million…

Source: Bloomberg

Finally, as a reminder, continuing claims are plunging most positively in states that have ended supplemental jobless benefits.

Shocker!!

Wolf Richter specifically noted this last week in The Extra $300/Week Unemployment Benefits Encouraged Many to Not Work: Details about the “Labor Shortage” Pile Up

  • In the 27 states that have ended the extra $300 a week in federal unemployment benefits, paid on top of the regular state unemployment insurance, people are returning to work at a much faster rate than in states where the extra $300 a week are still being paid: this was further confirmed today by the unemployment insurance (UI) data from the Labor Department.

  • Continued claims by the states that kept the extra $300 a week (the Keepers) dropped by only 11%. In other words, continued UI over just those weeks since the end of June dropped over twice as fast in states that had ended the extra benefits.

  • The four-week moving average irons out some of the week-to-week ups-and-downs that tend to occur in every state, which, when it happens in one of the big states, can skew the national weekly data. Being a four-week moving average, it lags the weekly data, but it shows the trends:

Hiring managers and business owners who need to fill open positions have known this in their gut for months: Paying people as much or more to not work than they made while working encourages them to not work, even though the pay is now higher than it was before.

As Mike Shedlock recently concluded, that’s the latest advance in Progressive insanity.

end

New figures on revised Q2 GDP to 6.6% missing expectations.  Worse: inflation has hit its highest since 1983

(zerohedge)

Q2 GDP Revised To 6.6%, Missing Expectations; Core Inflation Hits Highest Since 1983

 
THURSDAY, AUG 26, 2021 – 08:49 AM

One month after the BEA shocked markets with its first estimate of Q2 GDP, which was a huge miss to expectations of 8.5%, printing at just 6.5%, moments ago there were far less fireworks when the BEA released its first estimate of Q2 GDP, which came in at 6.6% (6.560% to be precise), which was also a miss to estimates of 6.7% but far more modest.

According to the Dept of Commerce, the update to the first estimate reflects upward revisions to business investment and exports that were partly offset by downward revisions to private inventory investment, housing investment, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, were revised down.

These were the main revisions:

  • Personal consumption came in at 7.80%, virtually unchanged from the first estimate of 7.78%. On an annualized basis, Personal consumption came in at 11.9%, missing the estimate of 12.2%.
  • Fixed investment also rose modestly, contributing 0.62% of the bottom-line GDP, up from 0.57%.
  • Offsetting these increases, private inventories detracted -1.30% from the final number, more than the -1.13% initial estimate.
  • Net trade was a favorable offset, with net exports detracting only -0.24% from the bottom line number, less than the -0.45% initial estimate.
  • Finally, government subtracted 0.33% from the GDP number, a little more than the -0.27% initial estimate.

As the BEA noted, real disposable personal income (DPI) personal income adjusted for taxes and inflation decreased 31.0% in the second quarter after increasing 54.7% (revised) in the first quarter. The decrease in current-dollar DPI primarily reflected a decrease in government social benefits related to pandemic relief programs. Personal saving as a percent of DPI was 10.3 percent in the second quarter, compared with 20.5 percent (revised) in the first quarter.

The BEA also provided an update on corporate profits which rose 5.1% in prior quarter; Y/y corp. profits were p 43.4% in 2Q after rising 17.6% prior quarter. Of these, financial industry profits increased 11.1% Q/q in 2Q after rising 0.3% prior quarter; at the same time, federal Reserve bank profits up 36.4% in 2Q after falling 11.1% prior quarter. Nonfinancial sector profits rose 10.6% Q/q in 2Q after rising 9.1% prior quarter.

Last but certainly not least, and in fact the highest since 1983, core PCE came in at 6.1%, in line with expectations, and the highest since Q3 1983.

And with scorching inflation continuing to rise at a time when Wall Street is slashing its GDP estimates for Q4 GDP, the US economy is slowly but surely sliding into stagflation.

end

iii) Important USA Economic Stories

A Word About Tapering And Who The Fed Is In Bed With

 
THURSDAY, AUG 26, 2021 – 06:30 AM

Authored by Mike Shedlock via MishTalk.com,

Let’s discuss the relationship between tapering, Janet Yellen, Jerome Powell, and president Biden.

Tapering

At long last the world presumes the Fed will finally taper.

Hike After Tapering Complete? 

How long will that take?

What About Fed Chair Jerome Powell?

Hey, thanks for asking.

What’s the Troika?

My comment regarding the Troika pertains to a comment made by former Fed Chair Ben Bernanke.

He once stated the only three opinions that mattered were those of the Fed Chair, the Vice-Chair, and the President of the New York Fed.

Currently that would be Jerome Powell, Richard Clarida, and John Williams, respectively.

New Troika

Given there is no independent Fed and Powell may be replaced if he does not go along with Biden Administration wishes, it is more realistic to think of the Troika as Powell, Treasury Secretary and former Fed Chair Janet Yellen, and President Biden.

Powell will either hop into bed with Biden and Yellen or he will be replaced.”

Progressives right now are putting pressure on Biden to replace Powell with someone more to their liking.

end

Bullard:  Fed should start its tapering now

(zerohedge)

“Fed Should Get Going” – Stocks Stumble As Fed’s Bullard Says Taper Should Be Over By Q1 2022

 
THURSDAY, AUG 26, 2021 – 08:42 AM

Jim ‘bad cop’ Bullard is back on the tape, telling CNBC this morning that The Fed should “get going” on the taper and that he expects it to end its bond purchase scheme by Q1 2022.

Bullard also added that “getting taper done early gives The Fed options on raising rates.”

Interesting Bullard raised the fact that inflation hits the poorest in the country first and The Fed’s “inclusive employment” mandate means they should do more to control it.

Finally, Bullard warned that “financial stability concerns are a good reason to taper.”

And stocks didn’t like that…

Treasury yields spiked higher on the headlines…

And the dollar is on the rise too…

Remember what you’re told by the clever people on TV though, this market is driven by fundamentals, not merely The Fed.

 
USA////INFLATION WATCH//
Beef prices rise as demand soars!

US Beef Packers Margins Approach Record High As Demand Soars Ahead Of Labor Day

 
THURSDAY, AUG 26, 2021 – 09:53 AM

US live cattle prices in all regions are $128 per head Tuesday, but meat packer margins are somewhere out in orbit and continue to climb in the greatest squeeze since the beginning of the COVID-19 pandemic. 

Demand for beef is skyrocketing ahead of labor day. Bloomberg compiled ag data via HedgersEdge that showed increasing beef demand is pushing meat-packer margins to near the $1,000 per head mark last seen in May 2020 when the virus pandemic squeezed food supply chains. 

Bloomberg said, “restaurant reopenings, Labor Day grilling and more tourism around the world are boosting prices for the red meat. But with cattle prices lagging the eye-popping gains in meat, the profits that packers like Tyson Foods Inc. are making could bring more scrutiny in Washington for an industry that critics say is too concentrated.” 

With meatpackers, such as Tyson Foods raising its fiscal 2021 revenue forecast on strong beef demand, these companies are making hand over fist while raising retail prices. 

Tyson’s CEO Donnie King recently told investors that cost pressures would force the company to raise meat prices in the next two weeks. 

The notable trend within the food supply chain is that COVID disruptions continue to linger. Food prices have gone through the roof, and megacorporations like Tyson are handsomely profiting from market imbalances. 

No consumer is looking forward to this fall when supermarket prices are expected to spike even further. Perhaps, Labor Day cookouts will be the most expensive ever. 

 
USA COVID UPDATES
 
Abbott has figured things out perfectly: he now issues a new ban on vaccine mandates.  The FDA issued a fully approved Pfizer jab that is non existent.  This new approved product will be ready in 2025 only after extensive studies for safety have been implemented.  The approved Pfizer shot cannot be given to any child less than 16 years old. Pfizer loses its liability exemption in 2025. However the experimental vaccine  (ELU) is stay available and can be given to kids 12 years and up. Pfizer will maintain its liability exemption in the use of the jab.  The approved version will no doubt never come to market as Pfizer would not be able to pay for all of the damages that will occur. What an absolute fraud and crime against humanity!!
(zerohedge)

Texas Gov Issues New Ban On Vaccine Mandates As FDA Fully Approves Pfizer Jab

 
THURSDAY, AUG 26, 2021 – 08:21 AM

President Biden isn’t going to like this.

Texas Gov. Greg Abbott issued an executive order on Wednesday barring any state or local mandates requiring people to be vaccinated against COVID, before calling on Texas legislators to vote it into law during the ongoing special legislative session.

The order was intended to fill a loophole, since he previously banned vaccination requirements for jabs under emergency use authorization. He also banned state and local mask mandates.

“Vaccine requirements and exemptions have historically been determined by the Legislature, and their involvement is particularly important to avoid a patchwork of vaccine mandates across Texas,” Abbott said in a statement released along with his executive order.

Nine counties, dozens of school districts and the city of El Paso have already defied Gov. Abbott’s mask mandate ban, and some of the state’s most populous counties have asked for court orders to overturn or block its enforcement. On Wednesday, Dallas County became the latest to obtain a court order blocking enforcement of the mask mandate ban.

“Although this is an important victory, it’s really not a victory against a person or an entity,” Dallas County Judge Clay Jenkins, the county’s leading elected official, said at a news conference. “It’s a victory for humans who live in Dallas County against the virus.”

As COVID hospitalizations across the US top 100,000 for the first time since the winter, meanwhile, the number of new cases reported daily in Texas appears to be peaking, while deaths and hospitalizations have continued to climb. COVID-19 hospitalizations reached a record 14,255 on Wednesday, beating the Jan. 11 record of 14,218 reported by the Texas Department of State Health Services.

The Texas Supreme Court has declined to block restraining orders against Abbott’s mask mandate ban. Also, the Texas Education Agency has, for now, suspended enforcement of the mask mandate ban in the state’s public school systems.

The latest order comes after Abbott himself tested positive for COVID-19 earlier this month, one of a handful of “breakthrough” infections reported among American politicians.

Abbott’s orders have faced some resistance, and Texas officials say they have stopped enforcing his ban on mask mandates in schools in recent days amid a flurry of legal challenges. Though Abbott hopes to be able to enforce it state-wide soon.

END

From Robert H to us; a great view!!

WATCH: Los Angeles fire captain refuses covid vaccine in epic speech – NaturalNews.com

 
 
 
 
 
What happens if they simply do not respond in protest

 

https://www.naturalnews.com/2021-08-25-los-angeles-fire-captain-refuses-covid-vaccine.html

Cheers
Robert

end
 
USA SUPPLY CHAIN PROBLEMS
Port congestion at record highs amid trans-Pacific trad route disruptions
(zerohedge)

US West Coast Port Congestion At Record High Amid Transpacific Trade Route Disruptions

 
THURSDAY, AUG 26, 2021 – 10:20 AM

Peak shipping season is underway, and container ships anchored off California are on the verge of record congestion.

New data from Marine Exchange of Southern California & Vessel Traffic Service of Los Angeles and Long Beach ports shows port congestion outside the busiest US gateway for trade with Asia is rapidly building and rose to 40 vessels on Friday, tying the record high set on Feb. 1. 

According to the Port of Los Angeles, the average wait time for a vessel increased to 7.1 days, up from 6.2 days a week ago. 

Bloomberg notes, “the delays along key transpacific trade routes may be exacerbated by recent Covid outbreaks at Asian ports.” 

Readers may recall the collapse of the trans-pacific supply chains has been among the main reasons for soaring consumer goods prices. It’s also hardly a secret that the most vulnerable section of supply chains are West Coast ports where congestion remains off the charts and could soon reach uncharted territory in the coming weeks. 

The transpacific trade routes have experienced significant port delays in China in recent weeks because COVID outbreaks are shutting down terminals. 

We’ve discussed the latest meltdown down of the trans-pacific supply chains in “Supply-Chains Brace For Collapse: Port Of LA Fears Repeat Of “Shipping Nightmare” As China Locks Down” and “Shippers Frantic After China’s Busiest Port Shuts Container Terminal Due To Covid.” 

Goldman Sachs has explicitly warned that “port closures or stricter control measures at ports could also put further upward pressure on shipping costs, which are already very high.”

There is some good news in Asia, Chinese authorities are set to reopen the container terminal at the massive Port of Ningbo in the near term, as long as no COVID infections are detected. 

The timing of this bottleneck at US West Coast ports comes at an inopportune time for US importers who are ordering back-to-school and restocking goods ahead of the upcoming holiday season. Persisting trans-pacific supply chains disruptions means consumers may experience price rises of certain products and or shortages. 

Besides congestion in California, East Coast ports are also reporting increasing bottlenecks. 

end

iv) Swamp commentaries/

This has zero chance of succeeding because the police were part of the scam

(zerohedge)

Capitol Police Officers Sue Trump For Allegedly ‘Masterminding’ Jan. 6 “Attack”

 
THURSDAY, AUG 26, 2021 – 12:00 PM

A group of seven Capitol Police officers filed a lawsuit Thursday accusing President Trump and nearly 20 members of various (allegedly) “far-right” groups (including the Oath Keepers and Proud Boys, of course) of being part of a plot to disrupt the peaceful transition of power on Jan 6, when the officers were injured during the unrest on Capitol Hill. 

According to the NYT, this latest lawsuit is the “most expansive civil effort to date seeking to hold Mr. Trump and his allies legally accountable for the storming of the Capitol.”

Three other similar lawsuits have been filed in recent months, including one filed by two Capitol Police officers back in March which accused President Trump of being directly responsible for unleashing his followers on the officers for a violent confrontation. But Thursday’s lawsuit is the first to allege that Trump worked in concert with the “far-right extremists”, something the FBI has already shot down, as we noted last week.

“This is probably the most comprehensive account of Jan. 6 in terms of civil cases,” said Edward Caspar, a lawyer who is leading the suit for the Lawyers’ Committee for Civil Rights Under Law. “It spans from the former president to militants around him to his campaign supporters.”

So far, the most public venue available for the Capitol Police officers who were injured on Jan. 6 has been a Congressional Hearing in July where several officers testified about their injuries.

According to the lawsuit, one of the officer-plaintiffs, Governor Latson, was trying to secure the Senate chamber when a mob of rioters broke in and shoved him, beat him and hurled racial slurs at him, the lawsuit says

Another, Jason DeRoche, was beaten after being surrounded on the west front steps where rioters pelted him with batteries and doused him with mace and bear spray, causing his eyes to swell shut.

The suit also accuses Trump and the co-defendants of violating the Ku Klux Klan Act, an 1871 statute that includes protections against violent conspiracies that interfere with Congress’s constitutional duties. It also accuses the defendants of committing “bias-motivated acts of terrorism” in violation of District of Columbia law.

The lawsuit comes as the DoJ continues with its criminal investigation into those who participated in the attacks, hundreds of whom have been arrested after a review of photos and footage shared on social media, and by the news media.

Back in March, Democratic Rep. Eric Swalwell, a noted Trump antagonist, filed a similar complaint against the former president, while Rudy Giuliani, Donald Trump Jr. and Representative Mo Brooks of Alabama, a Trump ally, have also been targeted.

In each lawsuit, President Trump has sought to have the suit dismissed by arguing that he was acting in his official capacity as president on Jan. 6 and therefore cannot face civil litigation.

The new lawsuit appears to largely rely on news reports and details gleaned from criminal cases filed by the DoJ, it takes a broad view of the origins of the attack. It argues that the conspiracy to disrupt the election started as early as May 2020, when President Trump began complaining on social media that mail-in voting could “lead to fraud” and continued by accusing Roger Stone of echoing “false” claims on “right wing” news outlets like InfoWars. Finally, it ties the conspiracy together by claiming Trump was explicitly commanding the Proud Boys to attack as far back as September 2020, when he said during the second presidential debate that the Proud Boys should “stand back and stand by” (even though he hadn’t even lost the election, or contested anything, yet).

The surprisingly detailed lawsuit mentions other steps along the path to Jan. 6, including inlate November, when it claims a California-based political organizer named Alan Hostetter, who believed the election was stolen, posted a video on the internet claiming that people “at the highest levels” needed to be “made an example of with an execution or two or three.” Several “Stop the Steal” activists are accused in the suit of deliberately “spreading lies” to provoke a riot.

As far whether the lawsuit will succeed, legal experts are skeptical given the broad protections afforded by Trump’s office.

Interested parties can read the entire lawsuit below:

8 26 21 Smith v Trump Complaint (1) by Joseph Adinolfi Jr. on Scribd

 

end

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

Trudeau Vows 3% Surtax on Canada Bank Profits above C$ Billion – BBG

The Big Guy did a Teleprompter read on cyber security yesterday afternoon.  He appeared forlorn.

White House cuts off audio feed before Biden’s response to reporter on Afghanistan question
https://www.foxnews.com/media/white-house-audio-feed-bidens-response-on-afghanistan

NBC’s @PeterAlexander: I asked President Biden what he will do if Americans are still in Afghanistan after the 8/31 deadline. His response: “You’ll be the first person I call.”  Took no questions.

@TimMurtaugh: Biden’s first instinct was to be a wiseass to a reporter who asked an extremely important, legitimate question.  This is the “adult in charge.” (‘Tis why WH cut audio feed)

The price good men pay for indifference to public affairs is to be ruled by evil men.” – Plato

UK evacuation from Kabul to end within ‘24 to 36 hours’, defense sources say
The US president, Joe Biden, rejected pleas from the UK for the humanitarian airlift to continue beyond 31 August at a virtual meeting of G7 leaders on Tuesday, triggering claims from Conservative MPs that the “special relationship” is over and that US-UK relations were “about to enter their lowest point since Suez” (1956).  After the G7, UK defence sources told the Guardian that the US military is believed to need two to three days to close down its operations at Kabul airport, and British troops want to be at least 24 hours ahead of that – leaving a small window for RAF flights evacuating those at risk from the Taliban’s takeover…“UK-US relations are about to enter their lowest point since Suez,” one senior MP said. “The special relationship is very, very damaged.” Another said: “We have always pretended there’s a special relationship with the US and Washington has always let us.” A minister added: “Biden’s America seems to have chosen to back off just when it was obvious only they could step up.”…
https://www.theguardian.com/world/2021/aug/24/us-has-no-plans-to-delay-afghanistan-exit-beyond-31-august-pentagon-says

@disclosetv: U.S. military forces German crisis reporter and ten other international journalists to board planes under threat of military police to depart from Kabul airport to Doha (BILD) [WHY?].  Deputy Editor-in-Chief of BILD, Germany’s largest magazine, is at Kabul airport and reports on blatant attacks on freedom of the press by the U.S. military. [What is the US trying to cover up? Expected atrocities and other horrid optics?] https://twitter.com/disclosetv/status/1430549065230602242

CNN’s @kaitlancollins: Pentagon spokesman John Kirby confirms the US won’t control the Kabul airport after the 8/31 departure and says it’s up to the Taliban and international community to decide how it’s managed going forward.

Dozens of California students, parents stranded in Afghanistan after summer trip abroad
More than 20 students and 16 parents from the Cajon Valley Union School District in El Cajon, Calif., visited Afghanistan on summer vacation… (What the Sam hell is wrong with these ‘adults’?!?!?)
https://thehill.com/policy/international/middle-east-north-africa/569307-dozens-of-california-students-parents-stranded

The Telegraph: Joe Biden’s betrayal: Allies can never trust this president again
Pointless G7 meeting framed one of America’s most embarrassing retreats as a great success
https://www.telegraph.co.uk/world-news/2021/08/25/joe-bidens-betrayal-allies-can-never-trust-president/

There are unconfirmed reports that the virtual G7 meeting ended in 7 minutes because The Big Guy refused to extend his August 31 deadline.

Biden’s reputation has been forever tarnished – The president’s next test is likely to be Iran. His allies need assurances the Afghan debacle won’t be repeated
https://www.telegraph.co.uk/news/2021/08/24/bidens-reputation-has-forever-tarnished/

Military expert says General Scott Miller gets the lion’s share of blame for Afghanistan debacle, claiming by abandoning Bagram he prioritized politics instead of questioning Biden’s flawed decision to reduce US troops to just 700 – But Generals Kenneth Mackenzie and Joint Chiefs of Staff General Mark Milley and ultimately President Biden share in the blame, the defense analyst said
     As the US commander on the ground and facing the tight constraint, Miller chose Hamid Karzai International Airport in the middle of Kabul for the evacuation, telling US forces to abandon the nearby military airbase of Bagram outside the city…
https://www.dailymail.co.uk/news/article-9923259/General-Scott-Miller-Kenneth-McKenzie-blame-Afghanistan-military-expert-claims.html

@seanmdav: Over 80,000 people have been evacuated from Afghanistan, and only 4,400 were Americans? Complete insanity.  How many are still stranded?

Pelosi defends Biden on Afghanistan withdrawal deadline: “I trust his judgment”  http://hill.cm/v5ll2Nj

“US Troops Call It World War Z”: Shocking New Images Capture ‘Post-Apocalyptic’ Scenes Outside Kabul Airport – A Russian media correspondent, Murad Gazdiev, arrived at Kabul airport this week to report on the ground and was shocked by the deteriorating conditions and continued spiraling crisis. “We’ve just arrived at Kabul airport. American troops call what is happening here ‘World War Z,’ referring to the zombie movie starring Brad Pitt. It is clear why,” he narrated.
    “The situation is horrendous. The entire airport is littered with bullet casings and flash-bang grenades,” he continued. “Everything, absolutely everything is covered in barbed wire. The entire runway is lined with barbed wire.” And there are tragic scenes of desperate Afghan civilians standing outside the airport walls in knee-deep sewage… (US MSM sanitizing conditions for The Big Guy?)
https://www.zerohedge.com/geopolitical/american-troops-call-it-world-war-z-shocking-images-capture-post-apocalyptic-scenes

CNN: The State Dept estimates at least 4,100 Americans are still actively trying to get out of Afghanistan

@JacquiHeinrich: State Department now tells me the BRIEFER MISSPOKE on this call, and the 4100 number is not accurate. State did not provide an accurate number, said Blinken will speak to this later.

@joshdcaplan: BLINKEN: Taliban to allow Americans, at-risk Afghans to depart after August 31

@laralogan: Listening to Tony Blinken talk about the Taliban is like having your brain sucked out of your head. How can the US Sec of State say with a straight face that a government of terrorists is potentially an ally to the US in counter-terrorism efforts?

BBG’s @Rover829: Blinken says U.S. has evacuated about 4,500 Americans from Afghanistan since Aug. 14, another 1,500 U.S. citizens may remain in the country at present

@RichardGrenell: This information Blinken is giving was known weeks ago. He’s talking about Americans who registered with the Embassy months ago.  Why didn’t he know the number weeks ago? It should be updated regularly.  He’s only scrambling now.

@BlueBoxDave: The White House will claim it got “all Americans who wanted to leave” out and trust the media to play a semantics game about what that means.

China Vows to Retaliate If Blamed for Virus Leak
We will continue to cooperate with international organizations like the WHO in their research and in their search for the origins,” said Fu Cong, director-general of the Foreign Ministry’s Arms Control Department. “But we do not accept baseless and unfounded accusations that are politically motivated. And if they want to baselessly accuse China, so they better be prepared to accept the counterattack from China…  https://www.msn.com/en-us/money/markets/china-vows-to-retaliate-if-blamed-for-virus-leak-virus-update/ar-AANHOn6

Would China’s counterattack be the revelation of extensive US funding of the Wuhan Lab?  Hunter Biden stuff?  The usual 10% for The Big Guy stuff?

Samples From Early Wuhan COVID Patients Had Genetically Modified Henipah, One of Two Types of Viruses Sent from Canadian Lab   https://www.theepochtimes.com/samples-from-early-wuhan-covid-patients-had-genetically-modified-henipa-one-of-two-types-of-viruses-sent-from-canadian-lab_3963836.html

Biden’s US intel report on the origin of Covid is a nothing burger.  US intel says evidence is inconclusive.
https://www.dailymail.co.uk/news/article-9924529/Joe-Biden-handed-classified-intelligence-report-saying-COVID-origins-remain-inconclusive.html

If the US IC cannot ascertain what occurred at the Wuhan Lab, why did Congress grant them hundreds of billions of dollars over the last two decades to snoop around the globe?

DJT CoS @MarkMeadows: This isn’t surprising at all—it was the whole point. Biden canceled an independent investigation of COVID-19 origins, then handed it to his intelligence community who could do a performative report that does nothing and shields China from accountability. Pathetic.
@RepJimBanks: The Senate unanimously passed a bill to declassify intel related to the origins of COVID. Pelosi is blocking it from the House floor. Why is the top Dem in the House protecting the CCP?

Huawei gets U.S. approvals to buy chips for its growing auto business (‘10% for The Big Guy’?)
https://www.reuters.com/business/autos-transportation/exclusive-us-approves-licenses-huawei-buy-auto-chips-sources-2021-08-25/

GOP Sen. @tedcruz: Joe Biden just approved licenses for the Chinese Communist Party’s spy agency to buy auto chips, expanding their ability to conduct espionage & surveillance. It should be an unbelievable decision, but sadly from this President it’s not.

It is absurdly obscene how much China has gained geopolitically and economically under The Big Guy.

Former FBI Employee Sentenced in Manhattan Federal Court to 24 Months in Prison For Acting as an Agent of China – Kun Shan Chun, a/k/a “Joey Chun,” Provided Sensitive FBI Information to the Chinese Government (Only 24 months for these egregious crimes?  WTH is going on?)
https://www.justice.gov/usao-sdny/pr/former-fbi-employee-sentenced-manhattan-federal-court-24-months-prison-acting-agent

@Jkylebass: U.S. District Judge Victor Marrero and @PreetBharara sentenced a FBI employee who was a Chinese SPY who sent Top Secret data on FBI agents and their surveillance targets to the Chinese government for over a decade. Sentenced for 2 YEARS and $10K fine?!

@ggreenwald: * Number of people in the US under the age of 18: 74.2 million. * Number of people in the US under the age of 18 who have died of COVID since the pandemic began: 361.

AP: Gov. Kathy Hochul acknowledges nearly 12,000 more COVID-19 fatalities in NY than publicized by Cuomo administration.

@JackPosobiec: Cuomo covered up the deaths of thousands of people and it had zero effect on his political career.  Understand the dynamics here.

CDC reportedly using flawed COVID-19 breakthrough case data to make booster decisions
The CDC initially tried to track all infections, from mild to severe, in vaccinated people but in May changed its protocol to focus on the most severe cases… a dozen state officials told Politico they don’t have the bandwidth to match patients’ hospital admission data with their immunization records.  Those states instead are turning to hospital administrators to report breakthrough infections, which has resulted in data that often leaves out critical details, such as which vaccine a person received and whether they got two shots, the officials said…   https://www.beckershospitalreview.com/data-analytics/cdc-reportedly-using-flawed-covid-19-breakthrough-case-data-to-make-booster-decisions.html

@barnes_law: Past mRna vaccines failed because they couldn’t pass clinical 3 stage trials. FDA solved that by approving these vaccines before those trials can place.
     There is no *available* FDA approved licensed vaccine. Here’s what is happening. If FDA approved & licensed COVID19 vaccine, it would have to revoke the EUA vaccines & subject the vaccine maker to more liability risk. So, it only approved a future vaccine that isn’t “available”.

The Bizarre Refusal to Apply Cost-Benefit Analysis to COVID Debates – Are those who oppose a ban on cars or a radical reduction in speed limits sociopaths, given the huge number of people they are knowingly consigning to death or maiming?… The quickest and most guaranteed way to save hundreds of thousands of lives with policy changes would be to ban the use of automobiles… https://greenwald.substack.com/p/the-bizarre-refusal-to-apply-cost

Ex-DoD intel operative Tony Shaffer @T_S_P_O_O_K_Y: There are now 2 Americas. When I drive between the rural area where I now live & suburban VA/DC it’s clear. People outside urban areas are living their lives normally, while in the city people are paranoid, full of fear due to the constant @CDCgov fearmongering & contradictions.

Top economist @dlacalle_IA: Why the Infrastructure plan will fail? Because all government spending plans to artificially pump GDP do.  From Japan’s endless stimulus and Abenomics to the EU Growth & Jobs Plan, the Juncker Plan, the ghost cities in China… A trail of debt and malinvestment.

The Fed accepted $1.147 trillion of reverse repos, a new record, on Wednesday.  This means there is at least $1.147 trillion of excess reserves in the system or about 10 months of Fed QE.

On Wednesday night, the US State Department, U.S. Embassy in Afghanistan, warned US citizens at the Kabul airport to “leave immediately… security threats outside the gates… Because of security threats outside the gates of Kabul airport, we are advising U.S. citizens to avoid traveling to the airport and to avoid airport gates at this time unless you receive individual instructions from a U.S. government representative to do so… Follow the instructions of local authorities including movement restrictions related to curfews… (The local authorities are the Taliban!)
https://af.usembassy.gov/security-alert-embassy-kabul-afghanistan-august-25-2021/

The frantic State Department alert debunked the sanguine jabberwocky issued in the afternoon by Secretary of State Blinken and WH Press Sec Psaki.

Erik Prince, ex-Navy Seal and Blackwater founder, told Tucker Carlson that he rescued Joe Biden, John Kerry, and Chuck Hagel from Taliban controlled Afghanistan.  Prince said Biden’s withdrawal might have destroyed NATO and CIA recruiting.  Prince noted that the dollar is the world reserve currency due to US military strength.  So, Biden might have unleashed a dynamic that he never contemplated.

Things are never so bad they can’t be made worse!” — Humphrey Bogart

Biden to campaign for California Gov. Newsom ahead of recall vote – despite the unfolding crisis in Afghanistan, as well as the ongoing illegal immigration crisis playing out on California’s doorstep…
https://trib.al/p0lAtXv

 

Hundreds of released Guantanamo detainees return to killing Americans, report
Sixty-six percent of the 229 have not been recaptured and remain at large.
     U.S. intelligence documents show over 220 former detainees at the United States’ Guantanamo detention camp have returned to terrorism and are killing Americans, according to a recent news report… https://justthenews.com/government/security/sdfsadfsd

@laralogan: Everyone is talking about the US negotiating w terrorists as if it’s legal but it is not. Also, US code of justice 18 US, 2339B prohibits anyone providing support/material. The Taliban dep comm, Siraj Haqqani, is a designated terrorist, Haqqani network – designated FTO since 2012

Twitter Users Notice Tiny Detail on Airplane, Reveal Stunning Mistake Biden’s DOD Made
The Biden administration posted pictures of a plane that is not ours.  As many Twitter users pointed out, it certainly appears that the C-17s pictured are not American. One Twitter user zoomed in on the pictures of the aircraft to show the words “UAE Air Force” on the side
https://conservativebrief.com/notice-detail-49277/?utm_source=CB&utm_medium=DJD

@DavidJHarrisJr: Biden Political Prisoner with cancer has had medication denied to him for 166 days. He never entered the Capitol.
https://djhjmedia.com/steven/political-prisoner-chris-worrell-confirms-guards-have-not-given-him-access-to-his-cancer-drugs-for-166-days-video/

Jan. 6 Committee Issues Extremist Set of Demands for Trump’s Communications with Key Staff & Members of the Press  https://beckernews.com/jan-6-committee-issues-extremist-set-of-demands-for-trumps-communications-with-key-staff-member-of-the-press-41108/

@JackPosobiec: It’s clear they (Dems in Congress) are after my sources. Not giving them up. Don’t care what letter they send me. It’s not happening. Not afraid to take a stand to protect these patriots.
    Hi @SpeakerPelosi! I’d like to ask the committee a question.  Why did FBI Asst Director of Criminal Investigations Calvin Shivers and Capitol Police Intelligence Director Yogananda Pittman question why me, @ScottPresler, and several other “non-factors in J6” were on the list?
    Democrats think every patriot is involved in some deep secret organized plot orchestrated from the top bc that’s how they themselves operate.

FBI Palantir glitch allowed unauthorized access to private data (Keystone Kops, once again!)
A computer glitch in a secretive software program used by the FBI allowed some unauthorized employees to access private data for more than a year, prosecutors revealed in a new court filing…
https://nypost.com/2021/08/25/fbi-palantir-glitch-allowed-unauthorized-access-to-private-data/

@ColumbiaBugle: Tucker Carlson Calling Out @LindseyGrahamSC For Helping The Biden Administration Achieve Their Radical Agenda & The “Conservatives” Who Keep Promoting & Supporting Graham.  “So the most radical President of our lifetimes gets the most judges confirmed thanks to Lindsey Graham.”  https://twitter.com/ColumbiaBugle/status/1430339269629972485

Kamala Harris lays flowers at spot where John McCain was shot down over North Vietnam in the 1960s: Poses in the shadow of Ho Chi Minh’s stature in a reminder of America’s last disastrous evacuation https://www.dailymail.co.uk/news/article-9924689/Harris-Hanoi-Afghan-debacle-rumbles.html

TheBabylonBee: Biden’s Guest Hosting of ‘Jeopardy!’ A Disaster as He Flees Every Time A Contestant Puts an Answer in 

 
 

end

 

Well that is all for today
 
I will see you FRIDAY night
H

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