SEPTEMBER 1/GOLD DOWN $2.00 TO $1813.60//SILVER UP 20 CENTS TO $24.18//GOLD TONNAGE FOR SEPT: 3.6 TONNES/FOR SILVER: 28. MILION OZ//COVID UPDATES//VACCINE UPDATES/IVERMECTIN UPDATE//CHINA MAY BE REACHING ITS LEHMAN MOMENT WITH EVERGRANDE//AFGHANISTAN COMMENTARIES UPDATES//TALIBAN VS USA UPDATES//POOR PRIVATE ADP REPORT//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1813.60 DOWN $2.00   The quote is London spot price

Silver:$24.18 UP 20  CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1814.10 LONDON SPOT  4:30 pm

ii)SILVER:  $24.17//LONDON SPOT  4:30 pm

 
 

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

 

 

PLATINUM  $1004.00 DOWN  $13.50

PALLADIUM: $2444.05  DOWN $27.00  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 0/0

 

issued:  0

Goldman Sachs stopped: 0

 

NUMBER OF NOTICES FILED TODAY FOR  dept. CONTRACT: 0 NOTICE(S) FOR 0000 OZ  (0000 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  926 FOR 92,600 OZ  (2.880 TONNES)

 

SILVER//sept CONTRACT

516 NOTICE(S) FILED TODAY FOR  2,500,000   OZ/

total number of notices filed so far this month 4342  :  for 21,710,000  oz

 

BITCOIN MORNING QUOTE  $47,663 UP 1138  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$48,258  UP 1733  DOLLARS 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD UP down $2.00 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.46 TONNES FROM THE GLD.

 

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  1000.26 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 20 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: 

 

550.880  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 169.72 UP 0.03 OR 0.02%

XXXXXXXXXXXXX

SLV closing price NYSE 22.27 UP $.23 OR 1.04%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI FELL BY A VERY STRONG 2458 CONTRACTS TO 140,937, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE STRONG SIZED LOSS IN OI OCCURRED WITH OUR  $0.02 GAIN IN SILVER PRICING AT THE COMEX  ON TUESDAY. WE HAD OUR CONCLUSION TO OUR SPREADER LIQUIDATION WITH THE ENTIRE LOSS ON THE COMEX DUE TO IT.
 
 

OUR BANKERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT ROSE BY $0.02)

AND THEY WERE UNSUCCESFUL IN KNOCKING OUT SOME SILVER LONGS ASALTHOUGH WE  HAD A STRONG NET LOSS IN OUR TWO EXCHANGES EQUAL TO 2420 CONTRACTS OR 12.100 MILLION OZ, THE ENTIRE LOSS WAS DUE TO THE CONCLUSION OF SPREADER LIQUIDATION. WE  ALSO HADI) HUGE  BANKER SHORT COVERING AS THEY ARE VERY ANXIOUS TO GET OUT OF DODGE!!/WE ALSO HAD  SOME ii) REDDIT RAPTOR BUYING//.    iii)  A TINY ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  SMALL INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 27.64 MILLION OZ FOLLOWED BY A STRONG QUEUE JUMP OF 410,000 OZ//NEW STANDING 28.050 MILLION OZ  / v)  VI) CONSIDERABLE SPREADER LIQUIDATION; vi))VERY STRONG 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 – 4
 

 

 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
SEPTEMBER
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF SEPT:
 
38 CONTACTS  for 1 day, total 38 contracts or 0.190 million oz…average per day:  38 contracts or 0.190 million oz per day.

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

SEPT:  0.920 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON

LAST 4 MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONS OF OZ

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: 140.120 MILLION OZ 

 

 
RESULT: , ...WE HAD A VERY STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2458 WITH OUR 02 CENT GAIN SILVER PRICING AT THE COMEX ///TUESDAYTHE CME NOTIFIED US THAT WE HAD A TINY SIZED EFP ISSUANCE OF 38 CONTRACTS( 0 CONTRACTS ISSUED FOR SEPT AND 38 CONTRACTS ISSUED FOR DECEMBER) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.
 
TODAY WE HAD A VERY STRONG SIZED LOSS OF 2420 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR $0.02 GAIN/THE DOMINANT FEATURE TODAY: /HUGE BANKER SHORTCOVERING AS THEY GET OUT OF DODGE/HUGE CONCLUSION OF  SPREADER LIQUIDATION  AND WE HAVE A  SMALL INITIAL SILVER OZ STANDING FOR SEPTEMBER 27.640 MILLION OZ FOLLOWED BY A HUGE QUEUE JUMP OF 82,000 OZ TODAY//NEW STANDING 28.050 MILLION OZ//
 

WE HAD  516 NOTICES FILED TODAY FOR 2,500,000 OZ

 

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A GOOD SIZED 3864  CONTRACTS TO 507,113 _ ,,AND CLOSER TO  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. 

 

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: — -1449 CONTRACTS.

THE GOOD SIZED INCREASE IN COMEX OI CAME WITH OUR GAIN IN PRICE OF $5.60///COMEX GOLD TRADING/TUESDAY. AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALLED 6942 CONTRACTS..  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR SEPT AT 3.586 TONNES, FOLLOWED BY TODAY’S 400 OZ QUEUE JUMP//NEW STANDING 3.5987 TONNES// 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $5.60 WITH RESPECT TO TUESDAY’S TRADING

 

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

WE HAD A good SIZED GAIN OF 5499  OI CONTRACTS (17.08 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1629 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 0 & DEC 1629  ALL OTHER MONTHS ZERO//TOTAL: 1629 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 507,113. 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 INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5499  CONTRACTS: 3864 CONTRACTS INCREASED AT THE COMEX AND 1629 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 5499 CONTRACTS OR 17.08 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1629) ACCOMPANYING THE GOOD SIZED GAIN IN COMEX OI (3864 OI): TOTAL GAIN IN THE TWO EXCHANGES: 5499 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) GOOD INITIAL STANDING AT THE GOLD COMEX FOR SEPT. AT 3.586 TONNES//FOLLOWED BY TODAY’S 400 OZ QUEUE JUMP / 3) ZERO LONG LIQUIDATION, /// ;4)GOOD SIZED COMEX OI LOSS5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL

 

SPREADING OPERATIONS(/NOW SWITCHING TO GOLD)

 

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF OCT. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

 

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 SEPT HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF OCT, FOR GOLD:

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

 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

SEPTEMBER

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF SEPT : 1629, CONTRACTS OR 162,900 oz OR 5.066 TONNES (1 TRADING DAY(S) AND THUS AVERAGING: 1629 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 1 TRADING DAY(S) IN  TONNES: 5.066 TONNES

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

THUS EFP TRANSFERS REPRESENTS  5.066/3550 x 100% TONNES  0.1427% 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:   217.89 TONNES FINAL ISSUANCE.

SEPT          5.066 TONNES INITIAL ISSUANCE

 

 

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 2458 CONTRACTS TO 140,941 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 38 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: 0; DEC 38  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  38 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 2458 CONTRACTS AND ADD TO THE 38 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A VERY STRONG SIZED LOSS OF 2420 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH ALL OF THE LOSS DUE TO FINALIZATION OF SPREADER LIQUIDATION

 

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 12.200 MILLION  OZ, OCCURRED WITH OUR $0.02 GAIN IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 
 

3. ASIAN AFFAIRS

I)WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED UP 23.16  PTS  OR 0.65%   //Hang Sang CLOSED UP 149.30 PTS OR 0.58%      /The Nikkei closed UP 361.48 PTS OR 1.29%   //Australia’s all ordinaires CLOSED DOWN 0.13%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4669  /Oil DOWN TO 68.70 dollars per barrel for WTI and 71.68 for Brent. Stocks in Europe OPENED ALL GREEN   /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4669. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4631/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 ROSE BY A GOOD SIZED 3864 CONTRACTS TO 507,113 MOVING CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS COMEX INCREASE OCCURRED DESPITE OUR LOSS OF $3.70 IN GOLD PRICING TUESDAY’S COMEX TRADING.WE ALSO HAD A SMALL EFP ISSUANCE (1629 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 SEPT..  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 1629 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  & DEC.  1629  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1629  CONTRACTS 

 

WHEN WE HAVE BACKWARDATION,  EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!

ON A NET BASIS IN OPEN INTEREST WE GAINED  THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED 6942 TOTAL CONTRACTS IN THAT 1629 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A GOOD SIZED COMEX OI OF 3864 CONTRACTS.  WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR SEPT   (3.856),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 8 MONTHS OF 20201:

SEPT: 3.586 TONNES

AUGUST: 80.489 TONNES

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- AUGUST): 411.289 TONNNES

 

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $3.70).,BUT THEY WERE  UNSUCCESSFUL IN FLEECING SOME LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 17.08 TONNES. ….ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR SEPT. (3.586 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 -1449  CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 5499 CONTRACTS OR 549,900 OZ OR 17.08 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:  507,113 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 50.71 MILLION OZ/32,150 OZ PER TONNE =  15.77 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1577/2200 OR 71.69% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY:144,017 contracts//    / volume//awful///

CONFIRMED COMEX VOL. FOR YESTERDAY: 176,915 contracts//worse than awful ////  

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

 

SEPT 1

/2021

 
INITIAL STANDINGS FOR SEPT COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
159,404.657OZ
 
 
 
BRINKS
1 kilobars
 
JPMorgan 3100 kilobars
Manfra:
59,704.407 oz
1857 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
nil
OZ
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
nil
 
oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
0  notice(s)
000 OZ
 
000 TONNES
No of oz to be served (notices)
231 contracts
23100 oz
 
0.7185 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
926 notices
92600 OZ
2.880 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  0 deposit into the customer account
 
 
 
TOTAL CUSTOMER DEPOSITS nil  oz  
 
 
 
 
 
 
We had 3  customer withdrawals.

 

i) Out of Brinks:  32.15 oz

1kilobar

ii) Out of JPMorgan; 99,668.100 oz  (3100 kilbars)

iii) Out of Manfra:  59,704.407 oz  (1857 kilobars)

 
 
 
 
 
total customer withdrawals  159,404.6457  oz
     
 
 
 
 
 
 
 
 
 

We had 4  kilobar transactions 4 out of  5 transactions)

ADJUSTMENTS 1// both dealer to customer account

i) Delaware: 401.23 oz

ii) JPMorgan: 8,038.547 oz  250 kilobars

 

 
 
the front month of September has an open interest of 231 for a loss of 922 contracts. We had 926 notices served on Tuesday.  Thus we gained 4 contracts or an additional 400 oz will stand for delivery in this non active delivery month of September for gold.
 
 
 
 
OCTOBER GAINED 860 CONTRACTS UP TO 40,353
.
DEC GAINED 3819  TO STAND AT 419,027
 

We had 0 notice(s) filed today for NIL  oz

FOR THE SEPT 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 00  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 00 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 SEPT /2021. contract month, we take the total number of notices filed so far for the month (926) x 100 oz , to which we add the difference between the open interest for the front month of  (SEPT: 231 CONTRACTS ) minus the number of notices served upon today  0 x 100 oz per contract equals 115,700 OZ OR 3.5987 TONNES) the number of ounces standing in this active month of SEPTEMBER.  

 

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

No of notices filed so far (926) x 100 oz+( 231)  OI for the front month minus the number of notices served upon today (0} x 100 oz} which equals 115,700 oz standing OR 3.5987 TONNES in this  active delivery month of SEPTEMBER.

We gained 4 contracts or an additional 400 oz will stand for delivery over on this side of the pond.

TOTAL COMEX GOLD STANDING:  3.5987 TONNES

 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

104,945.541, oz Pledged August 21/regular account 3.164 tonnes JPMORGAN

54,250.898 oz International Delaware:  1.68 tonnes

169,535.980 oz Malca  5.28 TONNES

2,787.137 OZ  Loomis 0.08 tonnes // added August 27  

total pledged gold:  2,320,243.839oz                                     72.169 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 501.07 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 3.5987 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  18,421,369.942 oz or 572.98 tonnes
 
 
 
total weight of pledged: 2,320,243.83 oz or 72.169 tonnes
 
 
registered gold that can be used to settle upon: 16,101,126.0 (500.812 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes16,101,126.0 (500.812 tonnes)   
 
 
total eligible gold: 15,731,165.484 oz   (489.30 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  34,192,535.396 oz or 1,063.53 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  937.19 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

SEPT1/2021

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//SEPTEMBER

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
 
436,564.302  oz
Brinks
Delaware
HSBC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
1,070,993.300
 OZ
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
516
 
CONTRACT(S)
2,500,000  OZ)
 
No of oz to be served (notices)
1268 contracts
 6,340,000oz)
Total monthly oz silver served (contracts)  4342 contracts

 

21,710,000 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 deposits into customer account (ELIGIBLE ACCOUNT)

i) Into CNT:  1,070,993.300 oz

 

 
 
 

JPMorgan now has 186.173 million oz  silver inventory or 51.23% of all official comex silver. (186.17 million/362.706 million

total customer deposits today 1,070,993.300   oz

we had 3 withdrawals

i) out of Brinks:  1978.00

ii) Out of Delaware: 967.802 oz

iii) Out of HSBC: 433,618.00 oz

 

total withdrawal 436,564.302        oz

 

adjustments: 1 dealer to customer
 
i)Manfra:  128,169.620
 
 

Total dealer(registered) silver: 107.308 million oz

total registered and eligible silver:  362.706 million oz

a net 0,640 million oz enters  the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
For Sept. we have an open interest of 1784 for a loss of 3744 contracts.  We had 3826 notices served on Tuesday, so we gained 82 contracts or 410,000 additional oz will stand for delivery in this very active delivery month of September.
 
 
 

OCTOBER GAINED 8 CONTRACTS TO STAND AT 2350

NOVEMBER GAINED ITS FIRST CONTRACT TO STAND AT 1

DEC GAINED 1161 CONTRACTS UP TO 124,700

 
NO. OF NOTICES FILED:  516  FOR 2,500,000 OZ.

To calculate the number of silver ounces that will stand for delivery in SEPTEMBER. we take the total number of notices filed for the month so far at  4342 x 5,000 oz = 21,710,000 oz to which we add the difference between the open interest for the front month of SEPT (1784) and the number of notices served upon today 516 x (5000 oz) equals the number of ounces standing.

Thus the SEPT standings for silver for the SEPT./2021 contract month: 4342 (notices served so far) x 5000 oz + OI for front month of SEPT(1784)  – number of notices served upon today (516) x 5000 oz of silver standing for the SEPTEMBER contract month .equals 28,050,000 oz. ..

SEEMS OUR BANKERS ARE IN A HURRY FOR SILVER METAL..HE HAD A HUGE QUEUE JUMP OF 82 CONTRACTS OR AN ADDITIONAL 410,000 OZ WILL STAND OVER ON THIS SIDE OF THE POND.

 

TODAY’S ESTIMATED SILVER VOLUME  50,198 CONTRACTS // volume poor///

 

FOR YESTERDAY  647,496  ,CONFIRMED VOLUME/ /poor//

 

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO -1.64% (SEPT1/2021)

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   (SEPT1)/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!

SEPT 1/WITH GOLD DOWN $2.00 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.46 TONNES FORM THE GLD////INVENTORY RESTS AT 1000.26 TONNES.

AUGUST 31/WITH GOLD UP $5.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1001.72 TONNES./

AUGUST 30/WITH GOLD DOWN $7.15 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1001.72 TONNES/

AUGUST 27/WITH GOLD UP $23.79 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1001.72 TONNES

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/

 
 
 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

SEPT 1 / GLD INVENTORY 1000.26 tonnes

 

LAST;  1126 TRADING DAYS:   +75.45 TONNES HAVE BEEN ADDED THE GLD

 

LAST 976 TRADING DAYS// +  250.87. 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!)

SEPT 1/WITH SILVER UP 20 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.880 MILLION OZ.

AUGUST 31/WITH SILVER UP 2 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.002 MILLION OZ INTO THE SLV/////INVENTORY RESTS AT 550.880 MILLION OZ

 

AUGUST 30/WITH SILVER DOWN 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST S AT 545.878 MILLION OZ////

AUGUST 27/WITH SILVER UP 47 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 545.878 MILLION OZ/./

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//

 
 

SLV INVENTORY RESTS TONIGHT AT

SEPT1/2021      550.880 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES

Peter Schiff

 

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

 

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

LAWRIE WILLIAMS: China losing top gold producer slot to Australia?

The latest figures from Melbourne-based specialist gold consultancy, Surbiton Associates, suggest that China may have lost the global No.1 slot for gold output to Australia over the first half of 2021. Being based in the latter country, Surbiton monitors Australian domestic gold production extremely closely, so its latest figures are considered to be accurate and have been announced in a Surbiton press release. The Australian consultancy has compared its H1 assessed total for Australian new mined gold output with the latest total for Chinese domestic gold production announced by the China Gold Association.

The comparative figures are as follows: China 153 tonnes. While the Australian miners produced 74 tonnes in Q1 and 83 tonnes in Q2 making a total of 157 tonnes. It should be recognised however that the reported figure for China’s gold output may just relate to new mined gold and the country’s overall total would be boosted by byproduct gold from the country’s big base metals smelting and refining industry.

Surbiton Director, Dr. Sandra Close, notes “We shall have to see what happens to gold production in the next six months, both in Australia and in China. It was reported that Chinese gold output was adversely affected by work accidents including deaths, with shut-downs resulting while investigations took place.”

Surbiton says that according to the US Geological Survey (USGS), China has been the world’s largest producer of gold since 2007 when it overtook South African output. Australia has, according to Surbiton, remained the world’s second largest producer after China for over a decade, although London based specialist precious metals consultancy, Metals Focus, in its latest global gold production estimates reckons that in reality Russia was the world’s second largest gold producer in 2020 pipping Australian output by 3 tonnes. This production estimate puts Russia’s 2020 gold output at 331tonnes, compared with China’s 368 tonnes (See: Top 20 Gold producing nations in 2020).

Australia’s gold production was 321 tonnes for the financial year 2020/21 (the Australian financial year runs from and to end-June) and this is worth around A$26 billion at the current gold price of some A$2,500 per ounce,” Dr Close said. “Gold has certainly made a sizeable contribution to the economy in what has been a most challenging COVID year.”

Australia’s 2020/21 output fell seven tonnes, or two percent, compared with the previous financial year figure of 328 tonnes, which was an all-time record, whether on a financial or calendar year basis.

The nine tonne, or 12 percent, increase from the March 2021 to the June 2021 quarter was due to a number of existing and new operations recording higher gold production.

Dr Close said Kirkland Lake’s Fosterville mine in Victoria increased output by 49,000 oz (1.52 tonnes) in the June quarter, due to an increase in grade from almost 20 g/t gold in the previous quarter to almost 30 g/t. These are relatively high grades but nowhere near the grades of around 40 to 50 g/t treated at Fosterville from mid-2019 to mid-2020.

“Fosterville has certainly had an excellent few years and is currently Australia’s third largest single operation, for both the full 2020/21 financial year and the latest June quarter,” Dr Close said. “However, it took many years and several owners before its true worth was revealed.”

Additionally, in the June quarter 2021 Newmont’s Boddington operation in WA saw a rise of 36,000 oz (1.12 tonnes), while Evolution Mining’s Mount Carlton mine in Queensland increased output by 11,700 oz gold (0.36 tonnes).

“One of the new operations was Capricorn Resources’ Karlawinda project, in the Pilbara, south-east of Newman,” Dr Close said. “Its first gold was poured in the June quarter and it is ramping up to annual production of around 100,000 oz (3.1 tonnes).

It is interesting to look at the amount of money now being spent on gold exploration as a proportion of total mineral exploration expenditure. In 2001 gold exploration comprised around 55 percent of total mineral exploration expenditure. It had fallen to only 20 percent between 2008 and 2014 but has recovered now to around 50 percent.”

She said the local gold price remains encouraging and in the past few quarters this has driven expenditure on gold exploration to around A$375 million and total mineral exploration to around A$750 million, on a quarterly basis, according to the Australian Bureau of Statistics data

Australia’s largest gold producers for the 2020-21 financial year were:

Cadia East 23.8 tonnes Newcrest

Boddington 21.8 tonnes Newmont

Fosterville 18.4 tonnes Kirkland Lake Gold

Tanami 15.0 tonnes Newmont

Super Pit 14.9 tonnes Northern Star

01 Sep 2021

-END-

Gold Bullion Gains as E

ii) Important gold commentaries courtesy of GATA/Chris Powell

Craig Hemke outlines the pros and cons of the upcoming jobs report on Friday as to what Powell will do with respect to his supposed tapering.  Odds on favourite is that the jobs report will be not good for the economy

Craig Hemke

Craig Hemke at Sprott Money: After the Jackson Holedown

 

 

 Section: Daily Dispatches

 

5:26p ET Tuesday, August 31, 2021

Dear Friend of GATA and Gold:

Writing at Sprott Money, the TF Metals Report’s Craig Hemke says this Friday’s U.S. jobs report likely will be construed as a signal of whether the Federal Reserve will start slowing its bond purchases, and if observers think those purchases will diminish, the dollar will strengthen and gold will weaken.

But a poor jobs report, Hemke adds, could sink expectations of a bond “taper” and cause a sharp rally in gold.

Of course GATA’s view of these things is that regardless of job reports and any other reports, nucelar wars, worldwide plagues, and asteroid strikes, any day ending in “y” may be construed as cause to smash the gold price.

Hemke’s analysis is headlined “After the Jackson Holedown” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/After-The-Jackson-Holedown-Craig-Hemke-August-31-2021 

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

END

India has been and will always be the biggest smugglers of gold on the planet.  They do not want to pay tax on “money”

(MarketWatch)

Around $11 billion in gold was smuggled into India last year, stashed inside wigs, jeans, shoes

 

 

 Section: Daily Dispatches

 

By Lukas I. Alpert 
MarketWatch, New York
Tuesday, August 31, 2021

The man arriving at Kannur International Airport in Kerala in southern India caught the attention of customs officials right away. 

A quick search of his clothes revealed why — in between the two stitched-together pairs of jeans he was wearing was a thin layer of gold dust that had been made into a paste and applied like paint to the cloth. In all, the man was carrying some 302 grams of gold in his pants worth about $20,000, authorities said.

For customs officials in a country that has emerged as one of the biggest gold-smuggling centers in the world, this was a pretty normal day.

In 2020, Indian officials say, they seized $185 million worth of gold being smuggled into the country. But that’s a drop in the bucket. Experts estimate that around one-fifth of the 1,000 tons of gold that entered India last year arrived illegally. That’s equal to about $11 billion.

The reason is simple: India is one of the largest consumers of gold in the world but isn’t even in the top 50 in terms of production. High tariffs on gold imports have resulted in a booming smuggling industry, officials say. …

… For the remainder of the report:

https://www.marketwatch.com/story/customs-officials-in-india-find-smuggled-gold-in-hair-underwear-shoes-and-even-knitted-into-handbags-11630416761

end

OTHER PHYSICAL STORIES

 
 

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

i) Chinese yuan vs usa dollar/CLOSED UP AT 6.4669 

 

//OFFSHORE YUAN 6.4631  /shanghai bourse CLOSED UP 23.16 PTS OR 0.65% 

HANG SANG CLOSED UP 149.30 PTS OR 0.58 %

2. Nikkei closed UP 361.48 PTS OR 1.29% 

 

3. Europe stocks  ALL GREEN

 

USA dollar INDEX DOWN TO  92.65/Euro RISES TO 1.1815

3b Japan 10 YR bond yield: RISES TO. +.031/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110,36/ 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:: 68.62 and Brent: 71.77

3f Gold UP/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 -.357%/Italian 10 Yr bond yield RISES to 0.72% /SPAIN 10 YR BOND YIELD UP TO 0.35%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.08: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 0.78

3k Gold at $1815.65 silver at: 24.04   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 36/100 in roubles/dollar) 73.05

3m oil into the 68 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 110.36 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 .9175 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0839 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year RISING to 0.357%

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 1.324% early this morning. Thirty year rate at 1.939%

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

6.  TURKISH LIRA:  UP  TO 8.29..  VERY DEADLY

Futures Rise Toward Fresh Record High As PMIs Confirm Global Economy Slowing

 
WEDNESDAY, SEP 01, 2021 – 07:58 AM

After a somewhat soggy end to the otherwise spectacular month of August which saw 12 new all time highs in the S&P500, global stocks and US futures are solidly green to start the month of September despite another round of dismal global PMIs confirming the global economy is slowing, and especially China where the Caixin China manufacturing PMI came in at 49.2, missing expectations of 50.3, and the first contraction since April 2020. Of course, the coming global slowdown is great news for stocks as it means more stimmies in China, and a potential taper delay in the West (where hyperinflation is “transitory” after all) meanwhile the Fed’s QE cannon continues to blast billions in daily liquidity and naturally futures were solidly in the green, higher by 15 points to 0.34% to 4,536, Dow e-minis were up 106 points, while Nasdaq 100 e-minis were up 33.75 points, or 0.22%.ahead of U.S. ISM manufacturing data and ADP employment change.

Energy stocks led Wednesday’s gains, with oil majors Chevron Corp, Exxon Mobil and Schlumberger NV rising between 0.5% and 1.1% in premarket trading as crude prices rose ahead of today’s OPEC+ meeting. Rate-sensitive banks also rose with J.P.Morgan, Goldman Sachs and Citigroup up about 0.6% on support from higher bond yields.  U.S-listed shares of the world’s biggest miner BHP Group dropped 1.7%, while those in China-focused mining giant Rio Tinto fell 1.2% after tepid China factory data dented copper and iron ore prices. Shares of Calvin Klein and Tommy Hilfiger owner PVH Corp surged 7.8% after it raised its full-year earnings forecast. Here are some other notable movers:

  • Baudax Bio (BXRX) surges 19% after a director of the company bought 100,000 of the pharmaceutical company’s shares.
  • Crowdstrike (CRWD) shares fall 3.2% in premarket trading with analysts suggesting its 2Q results didn’t meet the most bullish expectations, but that the stock remains a top pick in the cybersecurity sector.
  • Focus Universal (FCUV) shares surge 38% following a share offering and the company’s listing on the Nasdaq Capital Market.
  • Luxury EV startup Lucid Group (LCID) drops 8% on the lock-up expiry date that allows some shareholders to sell stock for the first time since the SPAC deal closed.
  • Riot Blockchain (RIOT) is down 0.2% after filing for an at-the-market offering via Cantor Fitzgerald, B. Riley, BTIG, Roth.
  • Skillz (SKLZ) and AMC Entertainment (AMC) are among meme stocks gaining in premarket trading, rising 6.8% and 1.9% respectively, extending rallies fueled by retail investors in chatrooms like StockTwits, and on Reddit.
  • XPeng (XPEV) and Li Auto (LI) shares fall 1.7% and 0.1% respectively in U.S. premarket trading after Chinese EV peer Nio cut its delivery outlook. Nio drops 4.9%.
  • Wells Fargo (WFC) shares edge 0.7% higher in premarket trading after a 5.6% decline on Tuesday following a report that the bank could face regulatory action over the pace at which it is compensating victims of past scandals and shoring up its controls.

Still, while corporate results are strong, concerns about the delta variant, inflation spikes, supply bottlenecks and stimulus tapering could easily trigger a 10%-20% drop in stock prices, said Ipek Ozkardeskaya, senior analyst at Swissquote. “The markets are on path for more gains,” she wrote in a report. “Nobody can tell how healthy the trend is, where it will end, or how it will end.”

The ADP report, published ahead of the government’s more comprehensive and closely watched employment report on Friday, is expected to show private payrolls rose by 613,000 in August after 330,000 gain in July. The number is due at 8:15 a.m. ET. Separately, the Institute for Supply Management’s gauge of manufacturing sector activity is expected to have moderated to 58.6 in August from 59.5 in the previous month.

Earlier, surveys showed Asian and European factory activity lost momentum in August as the ongoing coronavirus pandemic-disrupted supply chains. Many firms reported logistical troubles, product shortages and a labor crunch which have made it a sellers’ market of the goods factories need, driving up prices.  Here is a snapshot of the overnight PMIs:

  • China Caixin Mfg PMI (August): 49.2, Exp. 50.2, previous 50.3
  • Euro Area Manufacturing PMI (Final, August): 61.4, flash 61.5, previous 62.8
  • Germany Manufacturing PMI (Final, August): 62.6, flash 62.7, previous 65.9
  • France Manufacturing PMI (Final, August): 57.5, flash 57.3, previous 58.0
  • Italy Manufacturing PMI (August): 60.9, GS 60.0, consensus 60.1, previous 60.3
  • Spain Manufacturing PMI (August): 59.5, GS 58.8, consensus 59.0, previous 59.0
  • UK Manufacturing PMI (Final, August): 60.3 flash 60.1, previous 60.4

While factory activity remained strong in the euro zone, IHS Markit’s final manufacturing Purchasing Managers’ Index (PMI) fell to 61.4 in August from July’s 62.8, below an initial 61.5 “flash” estimate. “Despite the strong PMI figures, we think that lingering supply-side issues and related producer price pressures might take longer to resolve than previously expected, increasing the downside risk to our forecast,” said Mateusz Urban at Oxford Economics. In Britain, where factories also faced disruptions, manufacturing output grew in August at the weakest rate for six months. The United States likely suffered a similar slowdown, data is expected to show later on Wednesday.

“We’re moving past the point of peak growth. The strongest period of the recovery now looks to be behind us, we’re seeing that in the economic data,” said Hugh Gimber, global market strategist at JP Morgan Asset Management. “The recovery is slowing, but it remains on track. And so that I think is what’s underpinning markets.”

Nothing like new all time highs to celebrate the slowdown.

European stocks also rose in the first trading session of September (because like the Fed, the ECB will be injecting billions in liquidity for a long, long time) after seven straight months of gains. The Stoxx 600 is up ~0.5%, led higher by travel, retail and banking industries. DAX took back some earlier gains, but was still up 0.1% on the day, while the FTSE 100 is up 0.6%.  French spirits maker Pernod Ricard gained 3.3% after reporting better-than-expected results. Carrefour slumped 4.4% in Paris as billionaire Bernard Arnault sold his remaining holding in the supermarket chain. European luxury shares rose after Bernstein says stock market movements in August have priced in the risk of potentially higher taxation in China, “at least in its milder form.” Among the gainers were Richemont +2.2%, LVMH +2.2%, Kering +2%, Burberry +1.8%, Hermes +1.3%, and Swatch +0.9%. While new taxation would prompt rich consumers to momentarily rein in their discretionary spending, it’s unlikely that there will be “highly disruptive action” from the Chinese authorities, analyst Luca Solca writes in a note. Here are some of the biggest European movers today:

  • Pernod Ricard shares rise as much as 3.9% after the French distiller’s FY results, which analysts say show a strong recovery with positive medium-term guidance.
  • Fluidra shares jump as much as 4.1%, after it acquired U.S. pool deck equipment manufacturer S.R. Smith in a deal valued at $240m.
  • EDP shares rise as much 4.3% as Berenberg raises its PT and says it remains a buy on upside from renewables growth and carbon prices.
  • BioMerieux’s shares gain as much as 7.7% after 1H earnings, which Jefferies analyst Peter Welford says beat consensus as costs declined.
  • WH Smith shares fall by as much as 7.2% after its FY results, with RBC saying that its outlook for a further recovery in its travel retail business seems “relatively cautious”
  • Carrefour shares drop by as much as 5.3% after billionaire Bernard Arnault, the world’s third-richest person, sold his remaining holding in the company, ending a 14- year largely unsuccessful investment in the French supermarket chain.

Earlier in the session, Asian stocks climbed for a fourth straight day as Chinese technology heavyweights extended their rebound from the massive rout seen earlier this year.  The MSCI Asia Pacific Index rose as much as 0.5%, with Tencent and Meituan the biggest individual contributors to the gauge’s advance. The financials sector gave the biggest boost, helped by Ping An Insurance’s bounce back from Tuesday’s losses. Equity benchmarks in China, Singapore and Japan were among the region’s biggest gainers. The Hang Seng Tech Index rallied for a third day as more investors grow confident that a bottom may have been reached following the selloff sparked by Beijing’s regulatory crackdown on private industry. A gauge of Asia’s software technology firms including Tencent also rose after capping its first monthly advance since April.  Asia’s stock benchmark is extending gains after rising 2.3% in August in what was its best monthly performance since December. Still, the rout in China and Hong Kong has meant that regional shares continue to underperform peers in the U.S. and Europe so far this year. “Many are starting to realize that the regulatory crackdown on large Internet platforms is becoming quite targeted in nature and isn’t creating existential threats to their business,” said Bloomberg Intelligence analyst Matthew Kanterman. “Coupled with relatively strong sector results the last few weeks and what appears to be a slowing cadence of bad regulatory developments vs July, sentiment may be starting to turn the corner for the sector.” Japan’s Topix closed at its highest level since April, while China’s CSI 300 Index climbed more than 1%.

Australian stocks pared declines after GDP beat expectations; the country’s S&P/ASX 200 index fell 0.1% to close at 7,527.10, trimming a loss of as much as 1% after Australia’s GDP report. The economy grew faster than expected last quarter as household’s tapped their savings to boost spending, underscoring the central bank’s view that the nation entered a renewed lockdown with solid momentum. Mesoblast was among the worst performers after Jefferies lowered its rating on the stock to “hold.” Alumina was among the top performers, extending its winning streak to a fourth day. In New Zealand, the S&P/NZX 50 index rose 0.2% to 13,243.49

In FX, the Euro trades around session high after the ECB’s Yannis Stournaras said inflation jump is temporary and the central bank should be cautious. Dollar was little changed for a third day. Commodity-linked currencies led gains while havens slipped; the euro and the pound were steady. The Aussie rallied amid short covering of AUD/USD and AUD/JPY positions after a strong close in Japanese stocks; bond yields in Australia and New Zealand jumped after hawkish comments from ECB officials spurred losses in global debt markets. The yen weakened a third day amid risk-positive sentiment and higher Treasury yields as traders positioned before the U.S. data.

In rates, 10-year Treasury yields are little changed at 1.31%. Treasuries were steady, off session lows, after facing slight pressure following block sale in Ultra 10-year note futures shortly after 6am ET. In Europe, bunds continue to underperform amid heavy debt sales in Germany. U.S. stock futures advance, still inside Tuesday’s range. Yields were cheaper across belly, remain broadly within a basis point of Tuesday’s close; in 10-year sector bunds lag by 1bp vs Treasuries while gilts trade broadly in line.

Government bond yields across the euro area touched their highest levels in around six weeks, pushed up by unease over the future pace of European Central Bank bond purchase after two ECB officials said the central bank needs to begin tapering soon. Germany’s 10-year Bund yield touched its highest level in just over six weeks, briefly rising above -0.36%.

In commodities, crude maintained a zigzag-trading pattern ahead of the upcoming OPEC ministers and allies meeting later Wednesday. Brent and WTI are little changed, with the global crude benchmark holding above $71/bbl. LME copper extends decline, down 2% after China released its third batch of metals from state reserves, vowing to sell more based on the market. The rest of the base metals complex is in red. In fixed income, bund yields gives back some gains, trading at the -0.38-handle, while peripheral spreads move wider to the core, the steepest at the longest end of the curve. 

Market Snapshot

  • S&P 500 futures up 0.4% to 4,537.50
  • STOXX Europe 600 up 0.8% to 474.73
  • MXAP up 0.3% to 202.44
  • MXAPJ up 0.2% to 666.43
  • Nikkei up 1.3% to 28,451.02
  • Topix up 1.0% to 1,980.79
  • Hang Seng Index up 0.6% to 26,028.29
  • Shanghai Composite up 0.7% to 3,567.10
  • Sensex little changed at 57,564.08
  • Australia S&P/ASX 200 down 0.1% to 7,527.13
  • Kospi up 0.2% to 3,207.02
  • Brent Futures up 0.5% to $72.01/bbl
  • Gold spot down 0.1% to $1,811.06
  • U.S. Dollar Index little changed at 92.68
  • German 10Y yield rose 0.5 bps to -0.377%
  • Euro little changed at $1.1810

Top Overnight News from Bloomberg

  • Short-term funding costs in the U.K are diverging from those in Europe as traders grow increasingly confident the Bank of England will deliver an interest-rate hike within the next year.
  • European factories saw unfilled orders rise to an unprecedented level in August as companies struggled to meet demand amid widespread bottlenecks in the global supply chain.There were “clear signs of strong capacity constraints,” according to an IHS Markit survey of purchasing managers
  • Manufacturing managers across Southeast Asia reported a heavy blow in August from one of the world’s worst Covid-19 outbreaks, while producers in North Asia continued to enjoy robust output, PMIs showed
  • Australia’s economy grew faster than expected last quarter as household’s tapped their savings to boost spending, underscoring the central bank’s view that the nation entered a renewed lockdown with solid momentum  

A more detailed look at global markets courtesy of Newsquawk

Asian stocks traded somewhat cautiously after further disappointing Chinese PMI data and following a soft handover from the US where sentiment was mired by disappointing Chicago PMI and US Consumer Confidence data, although the losses on Wall Street were only marginal and all major indices registered a seventh consecutive monthly gain for August. ASX 200 (-0.1%) was pressured as daily COVID-19 infections continued to ramp up in Australia’s most-populous states and with better-than-expected GDP doing little to brighten the mood, given that the strong economic growth for Q2 was made somewhat stale by the lockdowns throughout the entirety of Q3 so far. Nikkei 225 (+1.3%) outperformed amid reports PM Suga is to order the compiling of an economic package and additional budget within the week, while data also showed Japanese companies’ recurring profits nearly doubled Y/Y during the prior quarter. Hang Seng (+0.6%) and Shanghai Comp. (+0.7%) eventually weathered the miss on Chinese Caixin PMI data which slipped into contraction territory for the first time since April last year and effectively supported the argument for PBoC easing. However, price action was choppy as crackdown concerns also lingered amid the continued tightening of Beijing’s regulatory grip with China to curb overly fast growth in medicine expenses and the PBoC is to implement new disclosure measures for Chinese non-bank payment apps when they make new products or conduct foreign stock market listings. Finally, 10yr JGBs declined amid spillover selling from global counterparts including the bear steepening stateside and pressure in European bonds following the firm Eurozone inflation data, while the outperformance in Japanese stocks and lack of BoJ purchases in the market today also contributed to the headwinds for JGBs.

Top Asian News

  • India to Offer Indemnity to Flag Carrier Bidder Over Cairn Claim
  • China Bonds Shrug Off PBOC Cash Drainage to Jump on Weak PMI
  • Stocks, U.S. Futures Gain on Reopening Optimism: Markets Wrap
  • China Quants Pay $300,000 to Beat Wall Street to Graduates

Stocks in Europe trade with respectable gains across the board (Euro Stoxx 50 +1.2%; Stoxx 600 +0.9%), despite a somewhat mixed APAC lead and with little in terms of fresh fundamentals to sour risk appetite. US equity futures see gains of a lesser magnitude and have been waning off best levels, with the RTY (+0.6%) outpacing the ES (+0.3%), YM (+0.3%) and NQ (+0.2%), ahead of the ADP and ISM Manufacturing PMI later today before Friday’s pivotal jobs report. Back to Europe and sticking with PMIs where we have had the manufacturing finals across Europe – with the resonating theme being ongoing supply chain issues. The DAX (+0.7%) narrowly underperforms the region after the German manufacturing metric was slightly revised lower, deviating from the revision higher seen in France and the forecast beats printed in Italy and Spain – with the IBEX (+2.2%) the clear European outperformer at the time of writing, although more-so on the back of solid sectorial performances seen in Retail, Travel & Leisure and Banks. Sectors across Europe are predominantly in the green, with the only laggards the Basic Resources and Chemicals sectors. Sectors do not portray a clear theme nor bias. In terms of individual movers, Pernod Ricard (+3.5%) is firmer post-earnings where it announced the resumption of its EUR 500mln share buyback programme. Carrefour meanwhile trades at the foot of the Stoxx 600 after Billionaire Bernard Arnault’s Agache group announced the sale of its 5.7% stake in the Co. via accelerated bookbuilding. Meanwhile, Stoxx will announce the results of its annual review of the Euro Stoxx 50 Index at the close of business on 1 September, to be effective Friday, 17 September – JPM expects BBVA (+2.2%) and Stellantis (+0.3%) to replace Engie (+2.0%) and Amadeus (+2.6%).

Top European News

  • Billionaire Arnault Sells Carrefour Stake for $854 Million
  • KPMG Accused of Giving Regulator ‘False and Misleading’ Data
  • U.K. House Prices Surge in August Despite Ending of Tax Cut
  • EDF Slips as Path to Fresh France-EU Reform Talks Still Unclear

In FX, a marked change in fortunes for the Yen following its fleeting breach of 100 DMA resistance vs the Dollar yesterday, as Usd/Jpy rebounds sharply through 110.00 and the 50 DMA (110.10) towards 110.50 alongside US Treasury yields amidst further bear-steepening and renewed risk appetite. The Yen may also be factoring in reports that Japanese PM Suga is preparing an economic package and supplementary budget, plus pretty dovish/downbeat from BoJ’s Wakatabe, and the same could be said for the Franc in wake of SNB’s Zurbruegg saying that he expects low global interest rates will remain unchanged for some time to come, while noting vulnerabilities on the Swiss mortgage and real estate markets currently at a high level. Furthermore, the Bank sees clear signs of unsustainable mortgage lending on the one hand and heightened risks of a price correction on the other. Usd/Chf is back in the high 0.9100 area following its flirt with the round number on Monday, and with little downside reaction to a firmer Swiss manufacturing PMI. Conversely, Gold is coping relatively well with the rise in UST yields and risk-on environment on the Usd 1800/oz handle, albeit back below 100 and 200 DMAs after hurdling both and closing above yesterday, as the Greenback grinds higher and DXY attempts to form a base beyond 92.500 having bounced from a 92.395 low on Tuesday. The index is now hovering within a 92.790-640 band awaiting ADP, Markit’s final US manufacturing PMI, ISM and comments from Fed’s Bostic.

  • AUD/NZD/CAD – All firmer against their US counterpart, with the Aussie establishing a firmer platform over 0.7300 to stage another assault on 0.7350. Better than expected Q2 GDP did not really boost Aud/Usd overnight as COVID lockdowns have subsequently scuppered the economic recovery and China’s Caixin manufacturing PMI fell below the 50.0 growth/contraction threshold. However, the technical backdrop looks more constructive above a Fib retracement level at 0.7319 and Aud/Nzd crosswinds have turned in the run up to NZ terms of trade, import and export prices on a further bounce from 1.0350 to top 1.0400 again. Nevertheless, the Kiwi has reclaimed 0.7050+ status vs its US peer and the Loonie is paring more post-Canadian GDP declines with some traction from crude in advance of Markit’s manufacturing PMI, JMMC and OPEC+ meetings, with Usd/Cad probing 1.2600 compared to peaks just above 1.2650 yesterday.
  • EUR/GBP – Both narrowly mixed against the Greenback, but the Euro marginally outpacing the Pound as Eur/Gbp eyes 0.8600 irrespective of final Eurozone and UK manufacturing PMIs that were somewhat contrasting, but probably all too close to consensus or preliminary prints to prompt much reaction. Eur/Usd has regained 1.1800+ status, while Cable is straddling 1.3750.

In commodities, Crude futures have largely retraced their overnight gains, with WTI and Brent both back towards the bottom end of today’s ranges. The choppiness comes in the run-up to the JMMC meeting at 15:00BST/10:00EDT and the decision-making OPEC+ confab at 16:00BST/11:00EDT – subject to delays. Expectations have solidified around a 400k BPD hike, i.e., a continuation of the current plan, with all sources thus far pointing in that direction. That being said, it’s worth keeping in mind that OPEC+ has a tendency to massage expectations and then surprise markets. The full Newsquawk preview can be accessed here, and the exclusive Twitterdeck is available here. Elsewhere, spot gold and silver are uneventful and contained to recent ranges awaiting Tier 1 US data. Industrial metals are slightly more interesting following later-confirmed reports that China is releasing a third batch of metals totalling 150k tonnes, comprised of 30k tonnes of copper (prev. 30k), 70k tonnes of aluminium (prev. 90k) and 50k tonnes of zinc (prev. 50k). LME copper slumped back under USD 9,500/t and resides near session lows at the time of writing – with the disappointing Chinese Caixin manufacturing PMI also weighing on the red metal.

US Event Calendar

  • 7am: Aug. MBA Mortgage Applications, prior 1.6%
  • 8:15am: Aug. ADP Employment Change, est. 638,000, prior 330,000
  • 9:45am: Aug. Markit US Manufacturing PMI, est. 61.2, prior 61.2
  • 10am: July Construction Spending MoM, est. 0.2%, prior 0.1%
  • 10am: Aug. ISM Manufacturing, est. 58.5, prior 59.5
    • 10am: Aug. ISM Employment, prior 52.9
    • 10am: Aug. ISM New Orders, est. 61.0, prior 64.9
    • 10am: Aug. ISM Prices Paid, est. 84.0, prior 85.7

DB’s Jim Reid concludes the overnight wrap

So I now have 16 weeks holiday from looking after the kids which is a nice relief. After 2 weeks non stop with them that’s the bare minimum required. They are all lovely individually but together they are awful, especially the twins. A graph of the amount of fights I had to break up over the last couple of weeks would require a log scale. The biggest problem is they don’t bear grudges so this increases the number of fights. The pattern is a major bust up, five minutes of hysteria, move on, forget about it, play for a few minutes until the next conflict and then the loop starts up again.

So holidays are coming to an end and dark September mornings writing the EMR are well and truly here. Given it’s the start of the month today, Henry will shortly be releasing our monthly performance review for August. Normally the summer holidays are a relatively quiet period for markets, and last month very much fit into that pattern, but that didn’t stop equities powering ahead to fresh all-time highs as they advanced for a 7th successive month. In fact, both the S&P 500 and the STOXX 600 are now up by over +20% YTD on a total returns basis, with a third of the year still remaining. At the other end of the leaderboard however, oil prices saw their biggest decline so far this year in August, as fears of weakening economic demand and concerns about the delta variant of Covid took their toll. More details in the report out shortly.

It might be the start of September today, but investors will be grappling with a number of familiar themes this morning. The tapering and inflation debate was a hot topic yesterday but more from Europe for once rather than the US. This coupled with weak data served to dampen sentiment and spark a selloff across various asset classes. The most significant data yesterday came from the Euro Area, where the flash CPI estimate for August came in at a far stronger-than-expected +3.0% (vs. +2.7% expected), which is the highest since November 2011, and was also above every economists’ estimate on Bloomberg. Then we had some weak consumer confidence data from the US Conference Board, which backed up the weak reading from the University of Michigan earlier in the month.And both the European inflation reading and US consumer sentiment data came against the backdrop of weak PMIs out of China heading into yesterday’s session.

Looking at yesterday’s developments, that strong Euro Area inflation print was by some way the most impactful on markets, and gave further ammunition to the ECB’s hawks who’ve been calling for a withdrawal of emergency support. Although core inflation only exceeded expectations by 0.1%, the +1.6% reading marked the highest core inflation since July 2012, which was the month that former ECB President (and now Italian PM) Mario Draghi made his “whatever it takes” pledge. At a similar time to the inflation release, Dutch central bank governor Knot said that he believes in an immediate slowdown in ECB purchases and supports ending their pandemic emergency purchase programme in March. Furthermore, Austrian governor Holzmann said that he was in favour of reducing the pace of purchases in Q4. With both the strong inflation reading and the hawkish comments, European sovereign bonds witnessed a significant selloff, with yields on 10yr bunds climbing +5.6bps to -0.38%, which is their biggest one-day move since March, whilst those on 10yr BTPs (+9.9bps) saw their biggest one-day move higher since February.

With sovereign bond yields moving sharply higher in Europe, equities indices lost ground with the STOXX 600 closing the session -0.38% lower. In the US the S&P 500 similarly fell back, with the index down -0.13% from the previous day’s record highs after drifting lower in the US afternoon. This occurred as macroeconomic data continues to surprise to the downside as the Conference Board’s consumer confidence reading came in at a 6-month low of 113.8 in August (vs. 123.0 expected). Looking at the sectoral breakdowns, the FANG+ index of megacap tech stocks was an outperformer, managing to close +0.36% higher to just about achieve a new all-time closing high, its first since mid-February. Meanwhile, yields on 10yr US Treasuries were up +3.0bps to 1.309%, however US banks (-0.58%) reversed earlier gains as cyclicals largely lagged.

Asian markets are generally trading higher this morning with the Nikkei (+1.17%), Hang Seng (+0.62%), Shanghai Comp (+0.86%) and Kospi (+0.25%) all advancing. Meanwhile, yields on 10y USTs are up +2.2 bps to 1.332% and those on Australia and New Zealand’s 10y sovereign bonds are up +9.2bps and +9.3bps respectively after the global sell-off yesterday. Futures on the S&P 500 are up +0.29% and those on the Stoxx 50 are +0.65%. Elsewhere, oil prices are up c.+0.70% ahead of today’s OPEC+ meeting.

Overnight China’s Caixin manufacturing PMI came in at 49.2 (vs. 50.1 expected and 50.2 last month). This was in contrast to yesterday’s official manufacturing PMI reading of 50.1 which was relatively stable. The Caixin PMI is more representative of smaller and private companies while the official PMI covers larger, state owned enterprises. Given the weakness in the PMIs, our China economist Yi Xiong is of the view that the PBoC should soon cut the MLF rate to support growth (to read more click the link here). Looking at other Asian manufacturing PMIs, Japan’s final manufacturing reading got revised up +0.3pts from the flash to 52.7 while Australia’s final manufacturing PMI also saw a similar upward revision of 0.3pts to 52.0. Taiwan’s continued to remain well in expansionary territory with a reading of 58.5 (vs. 59.7 last month). Meanwhile, Vietnam’s dropped substantially to 40.2 from 45.1 last month and South Korea’s reading softened to 51.2 from 53.0 but Indonesia’s improved to 43.7 (vs. 40. 1 last month). These readings generally point to a slightly softer manufacturing activity in the region during the month as most countries imposed restrictions to curb the spread of the delta variant.

In other overnight news, the BoJ Deputy Governor Masazumi Wakatabe indicated in a speech that the central bank may revise down its economic assessment at this month’s policy meeting as the spread of the delta variant has caused the expansion and extension of the state of emergency.

With September having arrived, we’re now finally in the month of the German election, for which yet more polls yesterday showed the centre-left SPD in the lead. The first from Ipsos had them at 25%, ahead of the CDU/CSU on 21% and the Greens at 19%. And then another from Forsa had a slightly tighter race at the top, with the SPD on 23%, the CDU/CSU on 21%, and the Greens on 18%. The SPD’s candidate for chancellor, German finance minister and Vice-Chancellor Olaf Scholz, has sought to project himself as the heir to Chancellor Merkel, with whom he’s currently serving in the grand coalition with. But yesterday Chancellor Merkel herself took aim at this portrayal, saying that a major difference between the two is that she would never go into coalition with Die Linke, whereas she said it “remains an open question” whether Scholz was of this view.

Turning to the pandemic, there was some positive news as European Commission President von der Leyen confirmed that 70% of adults in the EU were now fully vaccinated. Meanwhile vaccine “passports” are becoming more widespread with Italy requiring travellers on planes, ferries and long-haul trains show proof of vaccinations or a negative Covid-19 test.

Looking at yesterday’s other data, inflation in France came in at a stronger-than-expected +2.4% (vs. +2.1% expected) in August, using the EU harmonised measure, whilst the Italian reading also surprised to the upside at +2.6% (vs. +2.1% expected). Over in the US, the MNI Chicago PMI for August fell to 66.8 (vs. 68.0 expected), though the S&P CoreLogic Case-Shiller national home price index was up +18.6% year-on-year in June, which is the fastest since that series begins in 1988.

To the day ahead now, and the main data highlight will be the release of the global manufacturing PMIs and the ISM manufacturing reading from the US, but there’s also the Euro Area unemployment rate for July, along with the ADP’s report of private payrolls from the US for August. Otherwise, central bank speakers include the ECB’s Weidmann and the Fed’s Bostic.

3A/ASIAN AFFAIRS

i)WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED UP 23.16  PTS  OR 0.65%   //Hang Sang CLOSED UP 149.30 PTS OR 0.58%      /The Nikkei closed UP 361.48 PTS OR 1.29%   //Australia’s all ordinaires CLOSED DOWN 0.13%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4669  /Oil DOWN TO 68.70 dollars per barrel for WTI and 71.68 for Brent. Stocks in Europe OPENED ALL GREEN   /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4669. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4631/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

 

end

b) REPORT ON JAPAN

JAPAN/TAIWAN

 

JAPAN/VACCINE/

I guess that they will never learn:  the entire Moderna vaccines have black graphene oxide in them and that is what causes the protection of the spike protein as it travels throughout the blood system

(zerohedge0

Fourth Case Of Contaminated Moderna Vaccine Reported In Japan

 
 
WEDNESDAY, SEP 01, 2021 – 09:50 AM

Yet another contaminated Moderna Covid-19 vaccine has been reported in Japan – the fourth in less than a week, according to Reuters, which reports that ‘several black particles’ were found in a Moderna vaccine vial in Kanagawa prefecture.

The remainder of the lot has been placed on hold.

Last week Japan suspended the use of 1.63 million Moderna doses after being notified of a contaminant which ‘could be metal’ and reacts to magnets.

Moderna and Spanish pharma company Rovi, which bottles the vaccines, says the cause could be a manufacturing issue.

Kanagawa prefecture said the vaccine’s domestic distributor, Takeda Pharmaceutical Co Ltd, had collected the vial with the suspected contaminant and that about 3,790 people had already received shots from the same lot.

More Moderna shots were temporarily halted in two other regions this week. In some cases, foreign substances have been found in unused vials, whereas others appear to be caused when bits of the vials’ rubber stopper break off when needles are incorrectly inserted. –Reuters

On Wednesday, Japan’s health ministry said that the vial sent to Kanagawa was from a different lot than the previous contamination reports, but has said that ‘rubber stopper material’ appears to have gone into it during the manufacturing process (which would contradict last week’s report that the material ‘reacts to magnets’).

Medical staff are being encouraged to perform visual inspections of vials for foreign materials or discoloration before use.

 
END
 

 

3 C CHINA

 

CHINA/USA

Good luck to China on this one.  China demands that it pay its share in Afghan reconstruction.

Needless to say they do not want to pay for what they have done with respect to COVID 19

(zerohedge)

China Insists The US “Pay Its Share” In Afghan Reconstruction While “Reflecting On Failure”

 
TUESDAY, AUG 31, 2021 – 08:30 PM

China is pledging support to the Taliban government now in charge of Afghanistan for reconstruction of the country, but is continuing to add insult to injury in the wake of the disastrous US evacuation and pullout from Kabul of the last two weeks.

“China has pledged to help reconstruction efforts in Afghanistan after American troops have completely withdrawn, but demands that Washington also pay its share,” The South China Morning Post writes in a Tuesday report. China’s foreign ministry went so far as to demand that Washington “reflect on its failure” after closing down its longest running war in history.

Foreign Ministry spokesman Wang Wenbin issued scathing criticism during a press briefing Tuesday, saying the United States’ starting the war in Afghanistan in the first place is ultimately “the reason for public livelihood and economic difficulty in the nation.”

Via SCMP

“The US has to take up responsibility and cannot just leave the chaos behind,” Wang emphasized. “The US has to work with the international community to provide economic and humanitarian assistance to Afghanistan, maintain the normal operations of the government, maintain social stability, stop the currency depreciation and inflation, and let Afghanistan go on the path of peace,” he said.

Alternately he touted China’s reconstruction efforts as part of a new ‘peaceful start’ for Afghanistan: “China will support the peaceful reconstruction of Afghanistan on the basis of respecting the wishes and demands of Afghanistan.” 

The stinging rebuke was laced with repeat comments on Washington’s need to ‘learn its lesson’ in the failure of the Afghan war:

The US had to learn that military intervention would only lead to failure and that China supported the building up of an inclusive government in Afghanistan that cut off ties with terrorist forces, he added.

Meanwhile, China is already flexing its diplomatic muscles at the United Nations, given that on Monday the UN Security Council passed a resolution demanding the Taliban ensure safe passage for people wanting the leave Afghanistan, while at the same time allowing humanitarian groups to provide aid inside the country.

Monday’s UN Security Council vote which saw China and Russia abstain…

Crucially China and Russia were the only countries that abstained, given that “the resolution failed to address terrorist organizations such as Islamic State and the East Turkestan Islamic Movement (ETIM), which Beijing has blamed for attacks in Xinjiang.”

The clear message was that the ‘hypocritical’ US cares neither about counter-terrorism nor humanitarian aid and thus backed the resolution merely as a face-saving ploy on the global stage – from Beijing’s perspective at least.

Diplomatic jockeying over ‘humanitarian motives’ and counter-terror concerns aside, as we and others have been highlighting lately, the Taliban now controls colossal untapped mineral deposits, in particular what’s likely the world’s largest lithium deposits. This fact alone likely explains China’s suddenly becoming “friendly” to the Taliban regime over the past weeks.

CHINA/ECONOMY

This is a biggy. I have been reporting that Evergrande, China’s huge property developer/owner is having massive problems.  Ownership is not the government but many private citizens and other non state corporations.  A failure will be systemic

(zerohedge)

China’s “Lehman Moment” Approaching: Evergrande Warns Of Default Risk From Cash Crunch

 
TUESDAY, AUG 31, 2021 – 10:00 PM

When even George Soros cautions that China is about to face a major financial crisis, writing in an FT op-ed that China‘s property boom is coming to an end, and that Evergrande – the largest real estate company which it over $300 billion in debt has been quietly dubbed China’s Lehman – “is over-indebted and in danger of default. This could cause a crash.”

But it’s not just Soros – overnight, the company itself, whose plight we have chronicled for the past 12 months while others have only recently woken up to its threat – warned that it risks defaulting on borrowings if its all-out effort to raise cash falls short, rattling bond investors in the world’s most indebted developer.

“The group has risks of defaults on borrowings and cases of litigation outside of its normal course of business,” the Shenzhen-based company said in an earnings statement on Tuesday. “Shareholders and potential investors are advised to exercise caution when dealing in the securities of the group.”

As previously reported, the cash-crunched company said it was exploring the sale of interests in its listed electric vehicle and property services units, as well as other assets, and seeking to bring in new investors and renew borrowings. But sharp discounts to swiftly offload apartments at a loss – the developer plans to sell its Hong Kong office tower HQ to Yuexiu Property Co. for just HK$10.5 billion ($1.3 billion), a third less than the HK$15.6 billion it sought – cut into margins, helping push net income down 29% to 10.5 billion yuan ($1.6 billion) in the first half of the year, in line with an earlier profit warning.

With Beijing refusing to come to the company’s assistance (unlike the recent bailout of bad debt giant Huarong which two weeks ago finally got a state rescue after months of speculation as to its fate) Evergrande’s bonds sank toward fresh lows as investor confidence in its ability to repay debts has continued to erode.

“Evergrande’s gross margin could compress further on the potential fire sale of its properties,” said Bloomberg Intelligence analyst Lisa Zhou. The gauge of profitability is the lowest among major developers tracked by BI due to aggressive promotions and price cuts, Zhou wrote in a note.

And in another blow to the imploding real-estate conglomerate, even long-term allies are signaling they’ve had enough. Chan Hoi-wan, chief executive officer of Chinese Estates Holdings Ltd. and wife of Hong Kong billionaire Joseph Lau, made her first sale of Evergrande shares, cutting her holdings to 8.96% from 9.01%, a filing showed.

Evergrande’s 8.75% note due 2025 fell 1.5 cents on the dollar to 33.7 cents, according to Bloomberg-compiled data. Its shares earlier closed 0.7% lower in Hong Kong trading, taking this year’s decline to 71%.

Adding to the confusion, company executives refrained from commenting on the results (perhaps in response to the recent urging from Beijing that the company should keep its mouth shut), leaving investors and analysts to parse through the statement for guidance on its financial health.

Revenue recognized from projects delivered plunged 17% to 222 billion yuan, the lowest for the same period in four years. Gross margin almost halved to 12.9% from six months earlier, the lowest since at least 2008.

More troubling is that Evergrande said some property development payables were overdue – i.e., in technical default – leading to the suspension of work on some projects, but it added that the company is negotiating with suppliers and construction contractors to resume the work.  “The group will do its utmost to continue its operations and endeavor to deliver properties to customers as scheduled,” it said.
For more details on the earnings, click here.

Additionally, while the company’s borrowing fell, total liabilities that include bills owing to suppliers edged up to 1.97 trillion yuan, near a record high. Evergrande’s debt shrank to 572 billion yuan, the lowest in five years, according to Bloomberg calculations. That’s down 20% from 717 billion yuan at the end of last year and 15% from 674 billion yuan in March. But in what appears to just be a case of reshuffling liabilities, trade and other payables climbed 15% from six months earlier to a record 951.1 billion yuan.

Separately, the company still falls short on two of China’s so-called three red lines – metrics imposed by regulators on developers as part of a crackdown on leverage in the industry. It has pledged to meet all three by December 2022. One measure — the ratio of cash to short-term borrowings, a gauge of liquidity — worsened in the period to 36% from 47% at the end of last year, as its cash and equivalents plunged to the lowest in six years, Bloomberg calculations based on the results show.

With banks, suppliers and homebuyers exposed to the real estate giant, any collapse could roil China’s economy, raising questions over whether it might receive state support. Regulators urged Evergrande to resolve its debt woes in a rare public rebuke earlier this month. The problem – as is becoming obvious – is that Evergrande will not be able to resolve its “debt woes” without a bankruptcy or state bailout.

But will Beijing bail out the company if it realizes that there are no more options?

Addressing this question, UBS analyst Kamil Amin wrotes last week that “increased defaults coupled with above-average spread volatility in the Asia credit market throughout this year had led us to believe that the notion of “too big to fail” was diminishing. Instead, the Huarong rescue package illustrates to us that the notion does in fact still hold but be likely limited to higher quality SOE names, where spillover risks are much more profound.”

Does Amin expect to see the same level for state support for Evergrande? “We are not yet convinced. Firstly, the issuer is a POE not an SOE and secondly, we expect the Chinese authorities to continue reigning in on excess leverage in the property sector and let defaults/restructurings drift higher. This view is consistent with the price action we have seen (Figure 2), with other higher quality SOE names across the financial sector having tightened post the Huarong news (China IG: -5bp), while China HY and Evergrande spreads have continued to trade >1150/5000bp.”

Judging by the continued selling of both Evergrande bonds and stocks, consensus agrees. Yet when faced with the task of cleaning up after what would be a huge shock to the system – and at $300 billion, Evergrande is orders of magnitude bigger than Lehman ever was – will China blink, or will Soros be right?

END

CHINA vs TAIWAN

New Taiwan Military Report Warns China Can “Paralyze” Island’s Defenses

 
WEDNESDAY, SEP 01, 2021 – 10:10 AM

It’s no secret the Chinese communist regime is preparing to invade Taiwan. The only question is when. 

A new annual report by the Defense Ministry in Taipei, seen by Bloomberg, offers a stark reality that China’s armed forces can “paralyze” Taiwan’s defenses. 

Beijing has been ratcheting up military maneuvers around the island. The document “offered a more alarming assessment than last year’s report, which had said China still lacked the capability to launch an assault,” Bloomberg said. 

Taiwan’s Defence Ministry explained in the report, addressed to lawmakers, that china can launch “soft and hard electronic attacks.” This means China can unleash electronic warfare weapons to degrade communications across the island and communications from Japan and the Philippines. 

On top of this, Beijing “can combine with its internet army to launch wired and wireless attacks against the global internet, which would initially paralyze our air defenses, command of the sea and counter-attack system abilities, presenting a huge threat to us.” 

With the probabilities increasing, China could attempt to seize Taiwan by force amid America’s disorganized exit from Afghanistan, which has tarnished U.S. prestige. Allies of the West, such as Japan and Taiwan, held talks about increasing aggression in the Taiwan Strait. 

Beijing views Taiwan as part of its territory, even though it has never ruled it, and has threatened invasion to prevent Taipei lawmakers from moving toward complete independence. 

We have noted countless times that Beijing’s war drills around Taiwan are dry runs in preparation for an invasion. 

U.S. Adm. Philip Davidson, head of the U.S. Indo-Pacific Command (INDOPACOM), recently said an invasion could come in the next three years. 

“If they haven’t done in 10 years, I think [Chinese leader] Xi [Jinping] will probably have been removed from office. I think even six years is pushing it,” Mills recently said. 

The Taiwanese Defense Ministry outlined to lawmakers some of the events that might trigger a Chinese invasion:

  • Taiwan declares independence.
  • Taiwan clearly heads toward independence.
  • Taiwan suffers internal turmoil.
  • Taiwan obtains nuclear weapons.
  • Dialogue on peaceful unification has been delayed.
  • Foreign forces intervene in Taiwan’s internal affairs.
  • Foreign troops are stationed in Taiwan.

end

CHINA/AUSTRALIA/CORONA ORIGINS

Figures!! China ramps up cyberattacks on Australia after Prime Minister Morrison asks for investigation into COVID  origins

(zerohedge)

China Ramped Up Cyberattacks On Australia After Prime Minister Morrison Asked For Investigation Into Covid

 
TUESDAY, AUG 31, 2021 – 11:00 PM

In case there was any doubt that new waves of hackers wreaking havoc around the world are often working in China’s best interest, look no further than Australia.

After the country’s relationship with China recently soured, it suffered from “wave after wave” of cyberattack, according to a new Bloomberg report.

The incidents started in April 2020 when Chinese bots “swarmed” Australian government networks after Prime Minister Scott Morrison called for an independent investigation into Covid’s origins. The bots undertook a “massive and noisy attack” with little attempt to hide what they were doing. 

“It was just a door knock, like someone walking up and ringing your doorbell,” said Robert Potter, chief executive officer of Internet 2.0, an Australian cybersecurity firm.

Following Morrison’s call, Australia dealt with “months of active hacks” at places like the parliamentary email network, the Bureau of Meteorology and the departments of defense and health.

Beijing denied involvement but experts tracked much of the activity to “systems used by China-based advanced persistent threat groups”, Bloomberg reported.

Potter continued: “China’s cyber reach is detectable on almost every government server. It isn’t subtle and it increases and decreases in a way that correlates to our overall relationship.” 

The campaign against Australia was one of the largest seen across the world over the last year, despite ubiquitous hacks, cracks and ransomware attacks that took place globally over the last 12 to 18 months.

It prompted Australia to announce in June 2020 that a “state-based cyber actor” was “targeting Australian organizations across a range of sectors, including all levels of government, industry,” the report says.

“There are not a large number of state-based actors that can engage in this type of activity,” Morrison said, alluding to China. China, of course, denied the allegations, stating: “Australian government and media have wrongly accused China of hacking many times before based on insufficient evidence.”

Australia’s director-general of security, Mike Burgess, didn’t seem too keen on placing blame on China, stating of the espionage. “we all do it”.

He said on Sky News back in March: “If I’m pointing my finger at you accusing you of espionage, I’ve got three fingers pointing back at me. Sometimes, though, it is right that governments do it because someone’s overstepped a line — it’s not just the theft of a military secret, it’s something else more offensive to our nation or damaging to our nation. And that’s the judgement governments are best placed to make.”

Meanwhile, China has accused Australia of pandering to Washington, and has quietly started to threaten Australia with the $16 billion in revenue it brought to the continent in 2019. 

Ambassador Cheng Jingye said: “It is up to the people to decide. Maybe the ordinary people will say “Why should we drink Australian wine? Eat Australian beef?”

Hugh White, a former intelligence official who is now an emeritus professor of strategic studies at the Australian National University, told Bloomberg: “China’s treatment of Australia has been distinctive if not unique. I haven’t been able to identify another country that had pressure placed on it over such a broad range of areas.”

White continued: “The Chinese have been eager to look for the opportunity to show the rest of Asia what’s at stake as they make their decisions about how they position themselves in relation to the US and China. Australia is the perfect victim for that.”

You can read Bloomberg’s full report here

end

4/EUROPEAN AFFAIRS

EU
NONE
 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

AFGHANISTAN///TALIBAN//

Not a chance:  Taliban in order to get acceptance from the west, states that it might ban opium production

(SouthFront)

Taliban Move To Ban Opium Production, But Could It Majorly Backfire?

 
TUESDAY, AUG 31, 2021 – 09:30 PM

Via South Front (emphasis ours),

The Taliban have vowed to reduce Afghanistan’s opium trade, according to a report by the WSJ.

This is incredibly suspect, as the movement’s primary bankrolling comes from poppy growing and opium production.

The Islamic group’s spokesman Zabihullah Mujahid vowed to crack down on the production of narcotics, saying “nobody can be involved” in the heroin trade.

Taliban leaders have been telling farmers in the southern province of Kandahar to stop cultivating opium poppies, according to the WSJ report.

Farmers are unhappy but have no choice but to comply should the Taliban begin to enforce the ban, the outlet cites a Kandahar grower as saying.

We can’t oppose the Taliban’s decision. They are the government,” said the farmer.

He added that the Taliban has assured people that they would have an “alternative crop,” such as saffron, to grow.

Saffron, however, is not nearly as lucrative as producing as producing narcotics.

The ban on a crop that has traditionally been a crucial part of the local economy has resulted in prices of raw opium skyrocketing across the country.

Local farmers in poppy-growing regions like Kandahar, Uruzgan, and Helman provinces said raw opium prices have tripled, from about $70 to about $200 per kilogram. In the northern city of Mazar-e-Sharif, the price of opium has doubled, according to locals.

The poppy-planting season is due start in about a month.

“If the Taliban prohibit the cultivation of poppy, people will die from starvation, especially when international aid stops. We still hope they will let us grow poppies. Nothing can compensate for the income we get from growing poppies,” a poppy farmer in the Chora district of Uruzgan was quoted as saying.

Afghanistan is the world’s leading producer of opium, with its share in the global market standing at over 80%.

Poppy cultivation offers the rural population in the war-torn country a much-needed lifeline. In 2017, annual opium production was valued at $1.4 billion, or 7.4 percent of Afghanistan’s gross domestic product, according to the UN.

The Taliban have used taxes on the drug business to bankroll they endeavors for a while. After seizing the country’s capital Kabul, the issue of the narcotics trade surfaced amid the Taliban’s new plans for governance.

“We are assuring our countrymen and women and the international community, we will not have any narcotics produced. From now on, nobody’s going to get involved (in the heroin trade), nobody can be involved in drug smuggling,” Taliban Spokesman Zabihullah Mujahid told reporters in Kabul at an August 18th press conference.

Before 2001, when the US invaded, Taliban had banned opium production. Production was down by 90%.

The Taliban eventually ceased to mete out punishment for cultivating drugs, cracking down only on use of drugs.

After 2001, during the two decades of deployment of Western forces in the country, the US spent some $9 billion in a crackdown on the drug trade. US efforts included paying farmers to destroy their poppies, funding Afghan eradication teams, and urging people to grow saffron, pistachios, or pomegranates instead.

This, however, pushed many of the local population to join the Taliban’s ranks.

The ban on the opium growing is a risky move, as the country is in an economic crisis, and a precarious one at that.

The US froze Afghanistan’s central bank assets and foreign aid, as well as the local currency – the afghani is reeling, on the brink of collapse.

Stopping the drug production and trade could be used as a bargaining chip to receive funds, and have resources released to be used by the Taliban government.

end

 

end

TALIBAN/AFGHANISTAN/AIRPORT

The Kabul airport to resume operations with zero international flights

(zerohedge0

Taliban Says Kabul Airport To Resume Operation Within Days

 
TUESDAY, AUG 31, 2021 – 10:30 PM

The Taliban has announced it plans to have Kabul’s international airport up and running again within a mere “days”. This just as Washington has formally declared its 20-year long war and occupation “over”. 

Senior Taliban leader Anas Haqqani told Al Jazeera at around the same time that the last American military plane departed Hamid Karzai International Airport overnight that “We are ready to resume the airport’s operation. We will do it within days.”

 

Source: AFP/Getty Images

In the statements he also called the US forces exit from the country a “great” event and said it was a “historical” day. 

Immediately after the last US military transport plane departed, Taliban fighters could be seen walking around and inspecting hangars where American Chinook helicopters were left behind, though US officials were widely cited as saying they and other aircraft left at Kabul airport had been “disabled” before the US departed.

The Taliban were seen celebrating into the night while flaunting American military uniforms and gear and posing for photographs.

Additionally, Haqqani told Al Jazeera that “The government will take shape in the following few days.” The report said further:

In a tweet following the US withdrawal, Haqqani said that “we made history again. The 20-year occupation of Afghanistan by the United States and NATO ended tonight.”

Haqqani had told Al Jazeera in an earlier interview that the overall aims of the new government will be “to maintain and be faithful to what we are fighting for. To serve the Afghan people and to serve Islam”.

“We have covered about 90 to 95 percent and we will announce the final outcome in the following few days,” he said of the new Taliban rule, though noted it remains too early to name who will be part of the cabinet.

end

AFGHANISTAN/USA/BIDEN

Biden tells the Afghan President to create the perception the Taliban is not winning whether true or not

(zerohedge)

Biden Told Afghan President To “Create Perception” Taliban Wasn’t Winning “Whether It Is True Or Not”

 
WEDNESDAY, SEP 01, 2021 – 07:01 AM

Despite all evidence to the contrary, President Biden appeared before the American people on Tuesday to try to sell his version of the American withdrawal from Afghanistan.

With a straight face, Biden half-shouted to the American people about the “extraordinary success” of the evacuation effort – an assessment that seemed completely at odds with the reality of the situation – before trotting out some equally specious stats: the US had successfully evacuated 90% of Americans who wanted to leave Kabul, and Biden committed to doing everything in his power to help those left behind.

But just as President Biden was delivering his prepared remarks, Reuters was quietly publishing a leaked transcript from the president’s final call with Ashraf Ghani, which took place in late July. The call offers a more realistic picture of a Biden Administration obsessed with the optics of the pullout, who was still pushing the Afghans to focus on an irrelevant strategy shift to try and make it look like they were doing something in the face of Taliban defeat.

A few weeks later, the Afghan president fled Kabul with sacks full of plundered cash just before the Taliban surrounded the city. He’s now believed to be hiding in the UAE.

Although Biden seemed aware that the situation on the ground appeared grim, Biden demanded that Ghani project “a different picture” to the press and the international community “whether or not it was true”.

“I need not tell you the perception around the world and in parts of Afghanistan, I believe, is that things are not going well in terms of the fight against the Taliban,” Biden said. “And there is a need, whether it is true or not, there is a need to project a different picture.”

Biden told Ghani that if Afghanistan’s prominent political figures were to give a press conference together, backing a new military strategy, “that will change perception, and that will change an awful lot I think.”

It’s also clear that Biden knew it was only a matter of time before the Taliban completed its takeover of the country. His main goal was making sure Ghani did everything in his power to try and manage the Afghan Army’s defeat with as little embarrassment as possible.

Despite probably knowing that details from his final call with Ghani would surface, Biden repeated his claims that nobody could have anticipated the Taliban’s rapid advance.

During the call, the Afghan president pleaded with Biden for more air support and a raise for Afghan soldiers who hadn’t received one in a decade, Biden offered mostly platitudes.

“We are going to continue to fight hard, diplomatically, politically, economically, to make sure your government not only survives, but is sustained and grows,” said Biden.

By the time the two leaders spoke on July 23, roughly 23 days before the fall of Kabul, Taliban insurgents controlled roughly half of Afghanistan’s district centers as the situation in the country rapidly deteriorated. Around this time, Biden insisted that the fall of Afghanistan to the Taliban wasn’t inevitable.

Although the situation in Afghanistan was already dire, and the American forces were withdrawing their air support, Biden continued to push Ghani about holding a press conference to announce a new military “strategy” that was really just window dressing.

“But I really think, I don’t know whether you’re aware, just how much the perception around the world is that this is looking like a losing proposition, which it is not, not that it necessarily is that, but so the conclusion I’m asking you to consider is to bring together everyone from [Former Vice President Abdul Rashid] Dostum, to [Former President Hamid] Karzai and in between,” he said.

“If they stand there and say they back the strategy you put together, and put a warrior in charge, you know a military man, Khan in charge of executing that strategy, and that will change perception, and that will change an awful lot I think.”

Ghani responded by saying Afghanistan was facing not just the Taliban, but their foreign backers.

“We are facing a full-scale invasion, composed of Taliban, full Pakistani planning and logistical support, and at least 10-15,000 international terrorists, predominantly Pakistanis thrown into this.”

In other words, the problem of defeating the Taliban wasn’t going to be fixed by a press conference. And the new “strategy” of abandoning rural areas to protect population centers was really the last available course of action, since the Taliban dominated the rural districts.

The bottom line is this: President Biden clearly knew the dissolution of the Afghan government and swift triumph of the Taliban was inevitable, but he was so preoccupied with managing the optics of the pullout, that he neglected to focus on planning for the final stages of the US withdrawal, all while appearing to believe his own BS about changing the strategy on the ground.

END
 
AFGHANISTAN/TALIBAN/USA
 
Leaked texts furious at Biden for abandoning American citizens
(zerohedge)

“We Are F**king Abandoning American Citizens” Says Livid Army Colonel In Leaked Afghanistan Texts

 
WEDNESDAY, SEP 01, 2021 – 09:10 AM

Encrypted text messages between an Army colonel and a former Special Forces soldier working on a private effort to extricate stranded Americans from Afghanistan reveal that the US evacuation was anything but the ‘extraordinary success’ President Biden declared on Tuesday.

“We are fucking abandoning American citizens,” said an Army colonel assigned to the 82nd Airborne Division in an encrypted Sunday text message to Michael Yon, who revealed the message to Just the News.

Yon told Just the News that a group of Americans were abandoned at the Kabul airport, pleading for help as military officials told them they were finished with evacuations.

We had them out there waving their passport screaming, ‘I’m American,'” Yon said Tuesday while appearing on the John Solomon Reports podcast. -Just The News

People were turned away from the gate by our own Army,” said Yon, the former Special Forces soldier and war correspondent.

 

Text messages between Michael Yon and an Army Colonel. “AMCITS” is shorthand for American Citizens.

Yon’s account, which he shared with JTN’s John Solomon, is backed by three dozen text and email exchanges with frontline Army officials in Afghanistan.

 

The stranded Americans eventually scattered to safe houses to avoid capture by the Taliban, after which Yon wrote a ‘stinging email’ to an Army major whose team abandoned the rescue effort.

“You guys left American citizens at the gate of the Kabul airport,” wrote Yon on Tuesday. “Three empty jets paid for by volunteers were waiting for them. You and I talked on the phone. I told you where they were. Gave you their passport images. And my email and phone number. And you left them behind.”

“Great job saving yourselves. Probably get a lot of medals,” he added.

While the helper group worked frantically to get the Americans through the gate, members texted one another to say they had seen National Security Advisor Jake Sullivan on CNN saying that neither he nor U.S. Central Command chief Gen. Kenneth McKenzie were told that Americans were abandoned.

“Hey did they end up just taking off?” one correspondent texted the helper group. “Because the National Security Advisor just told Tapper that neither he nor McKenzie had heard anything about Americans being left at the gates.” 

The correspondent noted that the private group heard differently from a lieutenant colonel (O-5): “Given we had comms with an O-5 on the ground, that means CENTCOM C3 is s–t, or someone is lying.”

According to the private rescue effort, the US Army was told by the State Department not to rescue the Americans.

“We get them to the gate, and the U.S. Army completely fails this saying, ‘Oh, we can’t do it, because the Department of the State tells us we can’t do it,” Yon told Just the News.

Read the rest of the report here.

end

Interpreter who helped save Biden from a helicopter crash in 2008 is stranded in Afghanistan

(Stieber/EpochTimes)

“Don’t Forget Me’: Interpreter Who Helped Save Biden In 2008 Stranded In Afghanistan

 
WEDNESDAY, SEP 01, 2021 – 10:30 AM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

 

President Joe Biden speaks at the National Response Coordination Center at FEMA headquarters in Washington, on Aug. 29, 2021. (Manuel Balce Ceneta/AP Photo)

Top White House officials are promising to get an Afghan interpreter who remains in Afghanistan out of the country.

The interpreter, who was identified only by his first name of Mohammed, helped rescue then-Sen. Joe Biden and two other U.S. lawmakers when their helicopter made an emergency landing in the Afghanistan mountains in 2008.

Mohammed is stuck in the Taliban-held country after U.S. troops withdrew on Aug. 30. He appealed to Biden for help.

Hello Mr. President: Save me and my family,” Mohammed told The Wall Street Journal. “Don’t forget me here.

Mohammed tried applying for a Special Immigrant Visa (SIV) and evacuating Afghanistan before the United States withdrawal, even earning a recommendation from Lt. Col. Andrew Till because of his assistance to the U.S. military.

But his application has not been approved, the paper reported, and an attempt to get into the Kabul airport this month wasn’t successful because American troops told him they would only let him through, not his wife or children.

Tens of thousands of SIV applicants remain in Afghanistan, according to aid groups. The Association of Wartime Allies has pegged the number as high as 118,000 when including the applicants’ family members.

Asked about the plea for help, senior administration officials said that assistance would be rendered.

We will get you out, we will honor your service, and we’re committed to doing exactly that,” White House press secretary Jen Psaki conveyed from the White House in Washington on Tuesday after expressing gratitude for Mohammed’s help to Biden over a decade ago.

 

Ron Klain, the White House chief of staff, said he read the story regarding the interpreter.

We’re going to cut through the red tape, we’re gonna find this gentleman, whose name is an assumed name in that story, and we’re going to get him and the other SIVs out,” Klain said on MSNBC’s “The Mehdi Hasan Show” later Tuesday.

Biden and his fellow senators at the time, John Kerry and Chuck Hagel, were traveling in Afghanistan in 2008 when a snowstorm forced the helicopter they were flying in to land in the mountains, a Biden spokesperson told news outlets at the time.

The senators were escorted by U.S. troops to Bagram Air base on foot.

Biden has referred to the trip over the years.

“If you want to know where al-Qaeda lives, you want to know where [Osama] bin Laden is, come back to Afghanistan with me,” he said while campaigning for president several months after the rescue, according to the Journal. “Come back to the area where my helicopter was forced down … in the middle of those mountains. I can tell you where they are.

Zachary Stieber covers U.S. news, including politics and court cases. He started at The Epoch Times as a New York City metro reporter
 
end
 
We are not making this up:  White House under bird brain Biden is mulling direct foreign aid to the Taliban
(zerohedge)
 

‘This Is Ransom’: White House Mulling Direct Foreign Aid To The Taliban

BY TYLER DURDEN
WEDNESDAY, SEP 01, 2021 – 01:55 PM

Is this what America’s “extraordinary success” in Afghanistan looks like? (In the words of President Biden on Tuesday).

White House National Security Advisor Jake Sullivan has offered blunt confirmation in a Wednesday “Good Morning America” interview with ABC’s George Stephanopoulos that the United States won’t rule out giving aid directly to the Taliban regime in Kabul

A somewhat incredulous looking Stephanopoulos questioned, “We’re gonna work with the Taliban… does that include the prospect of giving them aid?” 

Sullivan without missing a beat responded of the group which was long widely condemned as a terror organization after 9/11:

“Well first of all we do believe that there is an important dimension of humanitarian assistance that should go directly to the people of Afghanistan…”

“We do intend to continue that.”

Sullivan then actually used the unsettling phrase “our economic and development assistance relationship” with the Taliban. 

He continued: 

Secondly, when it comes to our economic and development assistance relationship with the Taliban, that will be about the Taliban’s actions. It will be about whether they following through on their commitments, Their commitments to safe passage for Americans and Afghan allies. Their commitment to not allow Afghanistan to be a base from which terrorists can attack the United States.”

It’s going to be up to them, and we will wait and see by their actions how we end up responding in terms of the economic and developmental assistance relationship.”

This is who US taxpayers will be forced to send “aid” to…

The subtext here is the ‘plan B’ after the US administration is confirmed to have left many Americans behind, with estimates ranging from a couple hundred to multiple hundreds still trapped in the war-torn country. 

Plan B appears to be to literally bribe the Taliban into allowing safe-passage for remaining Americans and local allies in the form of foreign aid, or essentially ransom money.

Sullivan later in the interview tried to clarify that “It’s not going to flow through the Taliban.” 

“As you know, George, when we send humanitarian assistance to countries, we do so through … international institutions like the World Health Organization or the World Food Program, and we do so through a nongovernmental organization who, George, are still operating on the ground in Afghanistan as we speak. It will not flow through the government.” However he clearly laid out that depending on the Taliban’s “actions” and ‘good behavior’ – aid may eventually go to them. “It’s going to be up to them,” he said.

At the same time it must be remembered that some top Taliban officials remain on Washington’s ‘most wanted’ terrorists lists, literally with bounties on their heads

.
TALIBAN/GLOBE
This will happen as the Taliban have no other source of income; they will double down on drug trafficking
(EpochTimes)

Amid Sanctions, Taliban Expected To Double Down On Drug Trafficking

 
WEDNESDAY, SEP 01, 2021 – 03:00 AM

By Emel Akan of The Epoch Times

As the world watches events in Afghanistan unfold, many have started to wonder what the Taliban rule means for the future of the country’s opium production.

Afghanistan is the world’s largest producer of the opium poppy, which is the raw material for heroin, one of the world’s deadliest drugs. The country accounted for nearly 83 percent of global opium production between 2015 and 2020, according to estimates of the U.N. Office on Drugs and Crime (UNODC). And it’s a key supplier for heroin markets across Europe and Asia.

The U.S. military presence failed to curtail opium production throughout the Afghan countryside. For two decades, opiate economy, which includes cultivation of the poppy, processing into heroin, and trafficking, has been a major source of cash for Afghanistan.

Despite its anti-heroin rhetoric, the Taliban has benefited greatly from this opium poppy economy and become a major player in the world’s drug trade.

In its first official press conference in Kabul, the Taliban pledged to end opium cultivation in Afghanistan, in an effort to gain acceptance from the international community.

“Today, when we entered Kabul, we saw a large number of our youth who was sitting under the bridges or next to the walls and they were using narcotics. This was so unfortunate,” Taliban spokesman Zabihullah Mujahid told reporters on Aug. 17.

“From now on, Afghanistan will be a narcotics-free country, but it needs international assistance,” he said, adding that foreign aid is needed to help Afghan farmers switch to alternative crops.

Afghanistan is noted for its high-quality fruits including pomegranates, grapes, and melons. Various international organizations in the past have helped Afghan families grow pomegranates, for example, as an important alternative to opium.

Despite its agriculture sector and rich mineral resources, the country has been critically dependent on foreign aid, which has dried up with the Taliban takeover.

International donors had been providing 75 percent of the Afghan government’s operating budget, Vanda Felbab-Brown, director of the Initiative on Nonstate Armed Actors at the Brookings Institution, wrote in a Chatham House report.

The Biden administration froze nearly $9 billion in Afghan government reserves that were held in the United States. The International Monetary Fund also blocked Afghanistan from receiving nearly $440 million in funds that were scheduled to be sent earlier. And the German government announced a suspension of $300 million in development aid budgeted for this year.

Financial sanctions will also make it difficult for international organizations to provide humanitarian aid to Afghan families.

Hence, the country is expected to drift into a humanitarian and financial crisis soon, according to experts, which may lead the new regime to increase illicit activities, including drug trafficking.

“The immediate effects of the financial squeeze in place is that cash liquidity in Afghanistan may drop, which will drive up inflation—including food prices—while disadvantaging Afghanistan’s poorest and the hundreds of thousands of internally displaced people,” Felbab-Brown wrote.

As in the past, she noted, those who attempt to ban poppy cultivation in rural areas can “find themselves facing significant losses of political capital and violent opposition.”

Gretchen Peters, executive director at the Center on Illicit Networks and Transnational Organized Crime, believes the Taliban shouldn’t be trusted when it comes to its promises to eradicate the poppy trade.

“They pulled a maneuver like that back in the ’90s. They did actually succeed in banning farmers from growing poppy for a year,” she told NPR.

“But the secret was the Taliban were actually sitting on these huge, vast stores of opium. The price of opium went through the roof, and they sold it and made a lot more money than they had the year previous.”

According to Peters, the Taliban will now have full access to the capacities and institutions of state, including its banking system, airlines, and border crossings, which would make its drug trafficking a lot easier.

Recently, poppy cultivation has expanded in most regions of the country, soaring 37 percent in the past year alone, according to UNODC.

END

//ISRAEL/USA/IRAN

USA and Israel working on Plan B if Iran nuclear talks fail

(Dave DeCamp/Antiwar.com)

US & Israel Working On ‘Plan B’ If Iran Nuclear Talks Fail

 
TUESDAY, AUG 31, 2021 – 09:00 PM

Authored by Dave DeCamp via AntiWar.com,

Israeli Defense Minister Benny Gantz said the US and Israel are working to develop a “Plan B” for if the indirect negotiations to revive the Iran nuclear deal fail. According to The Times of Israel, Gantz warned if Iran acquires nuclear weapons, it would trigger an “international arms race,” a comment that ignores the fact that Israel already has a nuclear arsenal and is the only nuclear-armed country in the Middle East.

“The United States and Israel share intelligence information, and the cooperation with the United States in this field is only getting stronger. We are working with them in order to establish a Plan B and to demonstrate that if there is no deal, other activities will begin, as President Biden said,” Gantz said.

 

Naftali Bennett, via The Times of Israel

During a meeting with Israeli Prime Minister Naftali Bennett on Friday, President Biden said if diplomacy with Iran fails, he was ready to “turn to other options.” Iran took Biden’s comment as an illegal threat.

Bennett presented Presented Biden with an Iran strategy described as a “death by a thousand cuts.” Ahead of the meeting, Bennett told The New York Timesthat he would continue Israel’s covert attacks against Iran, which the US tacitly endorses by never condemning them.

The constant threats from Israel are part of the country’s strategy to sabotage a US return to the JCPOA. When the JCPOA talks began in April, Israel carried out an attack on Iran’s Natanz nuclear facility. The attack led Tehran to increase some uranium enrichment to 60 percent, which is still lower than the 90 percent needed for weapons grade.

Israel uses Iran’s increase in enrichment as evidence Tehran is racing to develop a bomb when that is not the case. If Israel’s real concern was uranium enrichment, it would favor a JCPOA revival since the agreement restricts Iran’s enrichment levels to 3.67 percent.

The JCPOA talks have been on hold since June 20th. Iran’s new President Ebrahim Raisi has signaled that he is ready to return to the negotiating table, but it’s not clear when the talks might resume.

 

END

 
 
 

END

6.Global Issues

CORONAVIRUS UPDATE

Ohio judge orders hospital to treat ventilated COVID 19 patient with ivermectin

(Hai/EpochTimes)

Ohio Judge Orders Hospital to Treat Ventilated COVID-19 Patient With Ivermectin

BY LI HAI
 

A Butler County judge in Ohio has ordered a hospital to administer Ivermectin to a ventilated COVID-19 patient, granting an emergency relief filed by the patient’s wife.

Butler County Common Pleas Judge Gregory Howard ruled last week that West Chester Hospital, part of the University of Cincinnati’s health network UC Health, must “immediately administer Ivermectin” to patient Jeffrey Smith following his doctor’s prescription of 30 mg of Ivermectin for 21 days, the Ohio Capital Journal reported.

Smith, 51, is a Verizon Wireless engineer in Butler County. According to the lawsuit (pdf) filed by his wife Julie Smith, Smith tested positive for COVID-19 on July 9, and he was admitted to West Chester Hospital on July 15. On the same day, he was moved to an intensive care unit (ICU).

Smith’s condition continued to decline, and he was placed on a ventilator on Aug. 1. By Aug. 19, the ventilator was operating at 80 percent volume, with Smith’s chances of survival dropping to less than 30 percent, court documents read. At that time, the hospital claimed to have exhausted all options in its COVID-19 treatment protocol.

“At this point, there is nothing more the defendant can do, or will do, for my husband,” Julie wrote in an affidavit included in her complaint.

“However, I cannot give up on him, even if the defendant has,” Julie continued. “There is no reason why the defendant cannot approve or authorize other forms of treatments so long as the benefits outweigh the risks.”

Julie had read about some lawsuits reported by Chicago Tribune and The Buffalo News where patients in severe condition from COVID-19 later recovered after being given Ivermectin.

These patients had won lawsuits forcing their hospitals to treat them with Ivermectin. The plaintiffs in these cases were all represented by attorney Ralph Lorigo, chairman of New York’s Erie County Conservative Party, who later became one of Julie’s attorneys.

According to court documents, Julie requested that the hospital treat her husband with Ivermectin, but the hospital refused to even though she offered to release them from “any and all” responsibility.

Julie then sought medical advice from Dr. Fred Wagshul, who later prescribed Ivermectin to her husband. But the hospital still refused to do so, prompting her to file a lawsuit against the hospital.

“With absolutely nothing to lose, with little to no risk, and with the defendant likely to begin palliative care, there is no basis for it to refuse Dr. Wagshul’s order and prescription to administer Ivermectin,” Julie said in the affidavit.

Wagshul is a founding member of the Frontline COVID-19 Critical Care Alliance (FLCCC), a nonprofit organization that is working during the pandemic to develop effective treatment protocols to prevent COVID-19 infection as well as treat patients with COVID-19.

In October of 2020, FLCCC adopted Ivermectin as a core medication in its protocols for preventing and treating COVID-19. Its website references many recent studies reporting Ivermectin to be a safe, effective, and inexpensive drug against COVID-19, the disease caused by CCP (Chinese Communist Party) virus.

“Ivermectin is so safe,” Wagshul told Dayton247Now. “It essentially has no drug interactions and no side effects.”

The UC Health hasn’t responded to a request from The Epoch Times for comment. According to the Ohio Capital Journal, it hasn’t challenged the judge’s ruling.

Federal Agencies Oppose Ivermectin For COVID-19

Ivermectin is a drug that has been approved by the Food and Drug Administration (FDA) to treat certain infections caused by internal and external parasites. A Japanese scientist and an Irish-American scientist were awarded the Nobel Prize in 2015 for their discovery of Ivermectin, given the drug’s success at improving the health and wellbeing of millions of individuals infected with river parasites in the poorest regions of the world.

President Joe Biden’s top medical adviser, Dr. Anthony Fauci, has advised people against using Ivermectin to treat COVID-19.

“Don’t do it. There’s no evidence whatsoever that it works, and it could potentially have toxicity,” Fauci told CNN on Sunday. “There’s no clinical evidence that indicates that this works.”

Epoch Times Photo

 

Dr. Anthony Fauci responds to accusations by Sen. Rand Paul (R-Ky.) as he testifies before the Senate Health, Education, Labor, and Pensions Committee, on Capitol Hill in Washington on July 20, 2021. (J. Scott Applewhite-Pool/Getty Images)

Last Thursday, the Centers for Disease Control and Prevention (CDC) issued an official health advisory (pdf), reiterating its opposition to the use of Ivermectin for COVID-19 treatment.

“Ivermectin is not authorized or approved by FDA for prevention or treatment of COVID-19,” the advisory reads. “The National Institutes of Health’s (NIH) COVID-19 Treatment Guidelines Panel has also determined that there are currently insufficient data to recommend Ivermectin for treatment of COVID-19.”

“Adverse effects associated with Ivermectin misuse and overdose are increasing, as shown by a rise in calls to poison control centers reporting overdoses and more people experiencing adverse effects,” the advisory continued.

FDA warned on its website that taking large doses of Ivermectin is “dangerous and can cause serious harm.” The agency also stressed that Ivermectin products for animals are different from products for people because animal drugs are often highly concentrated.

“Such high doses can be highly toxic in humans,” FDA said.

Li Hai 

 

Li Hai
 
Li Hai is a New York-based reporter for The Epoch Times.
 
end
 
Mechanism of action of Fluvoxamine as it kills the virus entering the brain
 

Fluvoxamine: A Review of Its Mechanism of Action and Its Role in COVID-19

 

Abstract

Fluvoxamine is a well-tolerated, widely available, inexpensive selective serotonin reuptake inhibitor that has been shown in a small, double-blind, placebo-controlled, randomized study to prevent clinical deterioration of patients with mild coronavirus disease 2019 (COVID-19). Fluvoxamine is also an agonist for the sigma-1 receptor, through which it controls inflammation. We review here a body of literature that shows important mechanisms of action of fluvoxamine and other SSRIs that could play a role in COVID-19 treatment. These effects include: reduction in platelet aggregation, decreased mast cell degranulation, interference with endolysosomal viral trafficking, regulation of inositol-requiring enzyme 1α-driven inflammation and increased melatonin levels, which collectively have a direct antiviral effect, regulate coagulopathy or mitigate cytokine storm, which are known hallmarks of severe COVID-19.

Keywords: SARS-CoV-2, cytokine storm, acute respiratory distress syndrome, interleukins, inflammation

Introduction

Initially used to treat obsessive-compulsive disorder (OCD), fluvoxamine (FLV) has been shown to have the strongest activity of all SSRIs at the sigma-1 receptor (S1R) with low-nanomolar affinity (). FLV agonism on S1R potentiates nerve-growth factor (NGF)-induced neurite outgrowth in PC 12 cells (). S1R is a chaperone protein at the endoplasmic reticulum with anti-inflammatory properties (). FLV’s anti-inflammatory effects likely stem from its regulation of S1R, which modulates innate and adaptive immune responses (). S1R is also an important regulator of inositol-requiring enzyme 1α (IRE1)-driven inflammation () (Figure 1).

 

An external file that holds a picture, illustration, etc.
Object name is fphar-12-652688-g001.jpg

Potential anti-COVID-19 mechanisms of action of fluvoxamine. Figure created using Biorender.

FLV and other SSRIs regulate inflammatory cytokine activity and gene expression in both cell and animal models of inflammation (). The potential of FLV to dampen cytokine storm has implications in COVID-19. COVID-19 severity is associated with an increased level of inflammatory mediators including cytokines and chemokines (). Other S1R agonists like fluoxetine have been reported to have antiviral activity (). These studies have raised interest in the potential therapeutic role of FLV and S1R agonists in COVID-19 ().

This review illustrates mechanisms of action underlying anti-inflammatory and antiviral properties of FLV. It covers preclinical studies on effects of FLV and S1R agonists on inflammation, and summarizes currently available clinical data for FLV treatment in COVID-19.

Indications for Fluvoxamine

Fluvoxamine maleate is available as immediate release tablets and controlled-release capsules. FLV is indicated to treat obsessions and compulsions in patients with OCD. The half-life of FLV is 9–28 h depending on its formulation, and the recommended dosage is 100–300 mg/day ().

Original Mechanism of Action

Serotonin Transporter Inhibition

FLV blocks reuptake of serotonin at the sodium-dependent serotonin transporter (SERT) of the neuronal membrane, enhancing actions of serotonin on 5HT1A autoreceptors (). FLV has negligible affinity for α1-, α2-, β-adrenergic, muscarinic, dopamine D2, histamine H1, GABA-benzodiazepine, opiate, 5-HT1, or 5-HT2 receptors ()

 

end.

 
From my son Mark
 
Very interesting – as many have suspected, autoimmunity is a feature of both Covid and vaccine related disease. So not only is spike protein toxic, but the immune response to spike protein can also be toxic. Sucharit Bhakdi postulated this back in January. Now this has been found in mouse models.

 

https://www.theepochtimes.com/mkt_morningbrief/why-is-covid-so-severe_3970589.html

 
end
 
From my son Mark:

COVID cases rise at Duke University despite vaccine mandate | Raleigh News & Observer

 
 
 
 

END

From my son Mark:

‘We have seen a 25% increase in deaths of people who are FULLY Vaccinated’… – CITIZEN FREE PRESS

 
 
 
This winter is going to be so ugly. This is why the authorities are going nuts with their authoritarian tactics.

 

https://citizenfreepress.com/breaking/we-have-seen-a-25-increase-in-deaths-of-people-who-are-double-vaccinated/

end

Why Is COVID-19 Severe for Some?

 
 
 
 
Very interesting – as many have suspected, autoimmunity is a feature of both Covid and vaccine related disease. So not only is spike protein toxic, but the immune response to spike protein can also be toxic. Sucharit Bhakdi postulated this back in January. Now this has been found in mouse models.

 

https://www.theepochtimes.com/mkt_morningbrief/why-is-covid-so-severe_3970589.html

 
 
end

Fauci ADMITS “antibodies” from COVID-19 vaccines actually make the virus stronger – NaturalNews.com

 
 
 
 
This is going to end badly. We are so unprepared for the future.
While the current Covid narrative has been totally blown out of proportion, the reality is that a super variant is only a matter of time. By some time next year we will likely see such a variant come out of the wild, spreading. Any virus that jumps to animals with a ability to jump to humans cannot be contained, Covid will simply mutate to survive as all viruses attempt to do. And it will get stronger and smarter. Whereas current vaccinations are not a permanent solution and at best a temporary respite, with unproven long term consequences. 
So as we see all manner of effort to stifle the population from a ordinary existence, we need to consider what happens when the public simply says NO. In Chicago 73 school bus drivers have simply said NO to vaccinations by October 1 throwing transit to schools for kids into total disarray. So much for a orderly return to school. Social order and social relationships are being broken down and will create a new order of its’ own that will prevent a return to the previous norms. As both beliefs and relationships become altered. And will be augmented by the ability of people to cope with such changes. This will continue to cause labor disruptions.
Australia is seeing truckers halt traffic and the movement of goods in protest. All social media from facebook to telegram are trying to shut down truckers’ communications. So much for freedom of speech as clearly censorship is the domain of big tech and misguided government tyranny.  Unions are rising up to say no, on behalf of members, everywhere. This is a global trend that cannot and must not be ignored. As to ignore this will mean financial and social pain. Meanwhile Germany has stopped vaccinations and Denmark will do so by the end of September. Can it be they have seen the light 💡? I do not know, however what is clear is this current agenda is less to do about population safety and more about control. It has been evident to anyone looking and watching that low or non existent interest rates would impair bonds and lessen business activity and destroy needed returns for pensions.  As Europe dances with the prospect of default, it is clear that only prescribed fear and digital currencies will be their answer to a otherwise nasty default both on debt and pensions. To avoid this they need a support base to address their problem, as they cannot do this in isolation.  This is really what this is about. I expect the EU to break up as this program fails and falls flat. Europe is a mess that is getting worse and not better and it is not universal, as it differs by country. These differences are quickly becoming more pronounced and difficult to navigate. Foreign capital investment into Europe is gone and has been exiting over the last 7 months. Opportunities that would have been taken up a year ago, go without bid, as all interest wanes due to capital risk. Some nations are already seizing upon the malaise to chart new directions abandoning historic relationships for ones of future promise in a bid to survive and prosper. This will result in a new trade order that is not in public view as of yet. 
Expect a rising anger to spill over into public view across the western world and a shortage of capital investment as capital sits on a hair trigger to run to safety. And yes, expect the real coronavirus to stand up and come culling sometime next year and it will not care who it touches nor will it care about how many vaccinations are pushed to stop it.
The result will be that contrary to the inflation evident in rising prices due to product shortages and supply chain break down, what is becoming clear is that 2022 will be a year of deflation where price will be dictated entirely by demand and the ability and want to pay amongst shifting priorities and one should prepare for lower demand for all goods and services regardless of supply as economic activity is already sliding and we will see this show up in decreased spending as confidence wanes. 
 
Cheers
Robert
end
 

special thanks to John Barabe for sending this to us:

Canadian Lawyer explains problems in 8 minutes

 

https://www.youtube.com/watch?v=9TsAQs92wto

 

 

John D. Barabe CFP, CLU, CIM

 

Attachments area

Preview YouTube video Don’t Talk TV Episode 51: Vaccine Passports – Coercive and Unconstitutional

Don’t Talk TV Episode 51: Vaccine Passports – Coercive and Unconstitutional

 
Special thanks to G.G. for sending this to us:

Covid articles

 

Gijsbert Groenewegen

9:56 AM (12 minutes ago)

   

to Gijsbert

• Who’s Really Being Hospitalized? (Margulis) 

• 60% of Those Older Than 50 Who Die From Covid Are Double Vaxxed (Mercola) 

• ‘Get Sicker’: Anatomy Of A Failed Policy (Pfeiffer) 

• There’s An Off Ramp – But It Has A Price (Denninger) 

• The Case For Covid Vaccine Passports Was Just Demolished (Fee) 

• Key Vaccine Leaders Departing FDA As Covid-19 Booster Questions Linger (FPhar) 

• Greek Health Ministry Bracing For ‘Great Exodus’ (K.) 

• Pharmacy Customers Refuse To Say What Ivermectin Prescription Is For (G.) 

• Zero Covid, A Once Wildly Popular Ideology, Quietly Faces Extinction (Subs) 

• Singapore Gives Up Goal of Zero Covid Despite High Vaccination Rate (Gizmodo)

 

Gijsbert Groenewegen

Silverarrowpartners

+1.646.247.1000 

 
GLOBAL SUPPLY CHAIN ISSUES
 

end

 
Michael Every on the major stories of the day!
 
 
 
Michael Every….
 
 

7. OIL ISSUES

 

END

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////COVID/VACCINES

end

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

Euro/USA 1.1815 UP .0005 /EUROPE BOURSES /ALL GREEN   

USA/ YEN 110.36  UP  0.305 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3758  UP   0.0006  

 

USA/CAN 1.2590  DOWN .0026  (  CDN DOLLAR UP 26 BASIS PTS )

 

Early WEDNESDAY morning in Europe, the Euro IS UP BY 5 basis points, trading now ABOVE the important 1.08 level RISING to 1.1815 Last night Shanghai COMPOSITE CLOSED UP 26.16 PTS OR 0.65%

 

//Hang Sang CLOSED UP 149.30 PTS OR 0.58%

 

/AUSTRALIA CLOSED DOWN  .13% // EUROPEAN BOURSES OPENED ALL GREEN  

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL GREEN  

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED UP 149.30    PTS OR 0.58% 

 

/SHANGHAI CLOSED UP 23.16  PTS OR 0.65% 

 

Australia BOURSE CLOSED DOWN 0.13%

Nikkei (Japan) CLOSED UP 361.48 pts or 1.29% 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1812.30

silver:$23.94-

Early WEDNESDAY morning USA 10 year bond yr: 1.324% !!! UP 2 IN POINTS from TUESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.939 UP 1  IN BASIS POINTS from TUESDAY night.

USA dollar index early WEDNESDAY morning: 92.65 UP 3  CENT(S) from TUESDAY’s close.

This ends early morning numbers WEDNESDAY MORNING

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And now your closing  WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.21%  DOWN 1  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.031%  UP 5/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.34%//  UP 0  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.70 DOWN 1   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 –.370% IN BASIS POINTS ON THE DAY//

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

END

IMPORTANT CURRENCY CLOSES FOR  WEDNESDAY

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

Euro/USA 1.1850  UP    0.0041 or 41 basis points

USA/Japan: 110,01  DOWN .045 OR YEN UP 5  basis points/

Great Britain/USA 1.3788 UP .0037 UP 37   BASIS POINTS)

Canadian dollar UP 4 basis points to 1.2613

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The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED DOWN).. 6.4599 

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED DOWN)..6.4488

TURKISH LIRA:  8.31  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.031%

Your closing 10 yr US bond yield DOWN 1 IN basis points from TUESDAY at 1.302 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.921 DOWN 1 in basis points on the day

Your closing USA dollar index, 92.40 DOWN 20  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 30.14 PTS OR 0.42% 

 

German Dax :  CLOSED DOWN 10.80 PTS OR 0.07% 

 

Paris CAC CLOSED UP 78.51  PTS OR  1.18% 

 

Spain IBEX CLOSED  UP 144.90  PTS OR  1.64%

Italian MIB: CLOSED UP 172.37 PTS OR 0.66% 

 

WTI Oil price; 67.89 12:00  PM  EST

Brent Oil: 71.19 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    72.88  THE CROSS LOWER BY 0.56 RUBLES/DOLLAR (RUBLE HIGHER BY 56 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.370 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 : 68.33//

BRENT :  71.30

USA 10 YR BOND YIELD: … 1.300..  DOWN 1 basis points…

USA 30 YR BOND YIELD: 1.916  DOWN 2 basis points..

EURO/USA 1.1840 UP 0.0030   ( 30 BASIS POINTS)

USA/JAPANESE YEN:109.99 UP .069 ( YEN UP 7 BASIS POINTS/..

USA DOLLAR INDEX: 92.49 DOWN 14  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3769  UP .0017  

the Turkish lira close: 8.29  UP 3 BASIS PTS

the Russian rouble 72.99   UP   .45 Roubles against the uSA dollar. (UP 45 BASIS POINTS)

Canadian dollar:  1.2623 DOWN 6 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.370%

The Dow closed DOWN 48.20 POINTS OR 0.14%

NASDAQ closed UP 50.15 POINTS OR 0.33%

VOLATILITY INDEX:  16,15 CLOSED DOWN 0.33

LIBOR 3 MONTH DURATION: 0.119

%//libor dropping like a stone

USA trading day in Graph Form

Rally Fizzles As Banks And Energy Dump While FANGs Hit All-Time High; Cryptos Soar

 
 
WEDNESDAY, SEP 01, 2021 – 04:02 PM

For the second day in a row, stocks rushed out of the gate only to stumble late in the day.

On the first day of the month, following a stellar Aug which saw 12 all time highs in the S&P – the most since 1987, September started off with a whimper as a broad divergence emerged beneath the market surface as energy and banks slumped while duration-sensitive and small cap stocks traded in the green.

As a result, the S&P failed to hold on to gains and closed broadly unchanged.

The slumping reflation trade was once again offset by strength in gigacaps, as the NYSE FANG+ Index climbed about 1.5% to reach a new all time high….

… with utilities and real-estate sectors also rising. The benchmark gauge of American equities traded near its all-time high, while the Dow Jones Industrial Average fluctuated.

Helping the FANGs was an upgrade by Wolfe Research of Apple to peer perform from underperform on the back of strong demand trends for the iPhone. The stock hit an all time high briefly before fading much of its gains.

Tech outperformance was also driven by another day of declining rates, with the 10Y yield sliding as soon as the ugly ADP print showed a huge miss to expectations, sparking concerns about Friday’s payrolls report…

… which in turn dragged the broader curve lower.

“The private payrolls numbers have been all over the map during the pandemic, and often not the strongest indicator of how the rest of the jobs report will play out,” said Mike Loewengart, managing director of investment strategy at E*Trade Financial. “With so much pressure on improvement on the labor-market front coming from the Fed, this could send a signal that jobs growth is stagnating. That’s likely a good thing for the markets though, as it means easy-money policy continues.”

In short, good news is good but bad news is better, leading to a relentless meltup but while the market hasn’t had a 5% drawdown since November, it also hasn’t had a 3% drop since May as stocks become a one-way diagonal line higher.

There is debate on what happens next, with bulls and bears once again torn: For Linda Duessel, senior equity strategist at Federated Hermes, it’s still too early to get bearish on the market. While more Wall Street voices are predicting a pullback soon, she told Bloomberg TV Wednesday that the “unbelievable” landscape of strong earnings and fiscal stimulus means stocks can run higher for longer.

Meantime, Citigroup Inc.’s Tobias Levkovich is sticking to his bearish call. The bank’s chief U.S. equity strategist predicts the index will end the year at 4,000 before reaching 4,350 by June 2022. Both levels sit below its last close of 4,522.68. Underpinning his view are stretched valuations and a planned tax rise that will hurt corporate profits.

One thing which however appears quite likely is even more gains for cryptos: with the prospect of even more monetary easing on deck, and as the NFT craze finds a second and far more powerful wind, cryptos jumped with Ethereum surging to the highest level since May, with many expecting ETH to take out its May all time highs in the coming weeks.

Away from cryptos, commodities were flat with gold flatlining and oil paring steep earlier losses as traders found comfort from a bullish U.S. government oil inventory report which saw a more than 7mm bbl inventory draw. Nerves were also soothed by the speed with which OPEC and its partners agreed – with hardly any discussion  –  to continue with a plan to add about 400,000 barrels a day of supply the group had shut last year when the pandemic destroyed demand.

But if today was boring, expect even more muted volumes tomorrow when traders will refrain from taking any major positions ahead of Friday’s NFP which, however, as noted above will be bullish if it beats, and more bullish if it misses.

MORNING TRADING

IMPORTANT USA ECONOMIC DATA

Usually the private ADP jobs report is very bullish no matter what the real data!. This time the ADP private payrolls had a huge miss with only 374,000 jobs added.  If this carries onto Friday, with the big entire jobs report, we will not have tapering and gold and silver will skyrocket.

(zerohedge)

“The Job Market Recovery Is Dented” – ADP Private Payrolls Miss Huge, Only 374K Jobs Added In August

 
WEDNESDAY, SEP 01, 2021 – 08:27 AM

For the second month in a row, the ADP Private Payroll employment report has been a complete disaster, and one month after the the ADP missed by almost half printing at 330K in June (missing expectations of 683K), moments ago ADP reported that private payrolls in August rose just 374K, which while a modest improvement from July’s downward revised 326K (which was the lowest since February), was again a huge miss to the 638K expected, and was in fact below the lowest forecast by polled economists (+400K) .

“Our data, which represents all workers on a company’s payroll, has highlighted a downshift in the labor market recovery. We have seen a decline in new hires, following significant job growth from the first half of the year,” said Nela Richardson, chief economist, ADP.

“Despite the slowdown, job gains are approaching 4 million this year, yet still 7 million jobs short of pre-COVID-19 levels. Service providers continue to lead growth, although the Delta variant creates uncertainty for this sector. Job gains across company sizes grew in lockstep, with small businesses trailing a bit more than usual.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The Delta variant of COVID-19 appears to have dented the job market recovery. Job growth remains strong, but well off the pace of recent months. Job growth remains inextricably tied to the path of the pandemic.”

For the second month in a row, medium-sized businesses added the most jobs:

The Services economy continues to dominate the recovered jobs in June, with only 12k manufacturing jobs added.

More ominously, the only jobs added were waiters and bartenders (i.e., leisure and hospitality).

Finally, it is worth noting that ADP has under-guessed Nonfarm Payrolls in 5 of the last 7 months, and remember that Fed Governor Christopher Waller recently said the U.S. central bank could start to reduce its support for the economy by October if the next two monthly jobs reports show employment rising by 800,000 to 1 million, as he expects, adding that there’s “no reason” to go slow on tapering the Fed’s bond purchase program.

So if today’s ADP print is anything to go by, and if for once the ADP is predictive of what this Friday’s payrolls will reveal, then we may have a major taper problem, as inflation soars yet as the job market suddenly crumbles leading to the dreaded stagflation.

end

ISM up but contracting employment and prices paid is flashing warning signs ahead of Friday’s payrolls

(zerohedge)

ISM Manufacturing Unexpectedly Rebounds But Contracting Employment Flashes Warning Ahead Of Friday’s Payrolls

 
WEDNESDAY, SEP 01, 2021 – 10:19 AM

Amid the continued plunge in “hard” economic data as captured by the worst print in the Citi US Econ Surprise index since the covid pandemic, we are finally starting to lose “soft” survey data as well, with the final Markit August Manufacturing PMI dipping again, from a flash print of 61.2 to 61.1 (if just barely below its July all time high of 63.4) however unlike last month when the PMI jumped to record and the ISM dropped, this time it was the much more closely watched ISM Manufacturing survey’s turn to rebound, rising from 59.5 to 59.9, beating expectations of a small drop to 58.5.

A look at the components of the ISM reveals that the strength in the headline print was the result of an increase in New Orders, Production, Inventories and Backlogs offset by declines in Employment, Deliveries and especially Prices.

While the two key components of the ISM index were flat…

… two of the most closely watched components – Employment and Prices Paid – declined, with Employment actually dipping into contraction for the first time this year, and adding to concerns from this morning’s dismal ADP print.

A full breakdown in the ISM’s components is shown below courtesy of Bloomberg’s Michael McDonough.

Speaking of declining prices, we can officially declare that deflation is here – after all, lumber prices are down… just ignore everything else.

Despite the rebound in the ISM headline print on the back of New Orders, Inventories and Deliveries, ISM Chair Tom Fiore was anything but cheerful:

Business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented levels to meet increasing demand. All segments of the manufacturing economy are impacted by record-long raw-materials lead times, continued shortages of critical basic materials, rising commodities prices and difficulties in transporting products. The new surges of COVID-19 are adding to pandemic-related issues — worker absenteeism, short-term shutdowns due to parts shortages, difficulties in filling open positions and overseas supply chain problems — that continue to limit manufacturing-growth potential. However, optimistic panel sentiment remained strong, with eight positive comments for every cautious comment.

  • Demand expanded, with the (1) New Orders Index growing, supported by continued expansion of the New Export Orders Index, (2) Customers’ Inventories Index remaining at very low levels and (3) Backlog of Orders Index staying at a very high level.
  • Consumption (measured by the Production and Employment indexes) declined in the period, with a combined 2.3-percentage point decrease to the Manufacturing PMI® calculation. The Employment Index returned to contraction after one month of expansion; hiring difficulties at panelists’ companies were the most significant hurdle to further output in August, as validated by the growth in inventory accounts.
  • Inputs — expressed as supplier deliveries, inventories, and imports — continued to support input-driven constraints to production expansion, at slower rates compared to July. The Supplier Deliveries Index softened while the Inventories Index made a strong move into expansion territory due to improvements in raw material deliveries as well as work in progress inventory being held longer due to key part shortages.
  • The Prices Index expanded for the 15th consecutive month, indicating continued supplier pricing power and scarcity of supply chain goods.

“All of the six biggest manufacturing industries — Computer & Electronic Products; Fabricated Metal Products; Chemical Products; Food, Beverage & Tobacco Products; Transportation Equipment; and Petroleum & Coal Products, in that order — registered moderate to strong growth in August.

“Manufacturing performed well for the 15th straight month, with demand, consumption and inputs registering month-over-month growth, in spite of unprecedented obstacles. Panelists’ companies and their supply chains continue to struggle to respond to strong demand due to difficulties in hiring and a clear cycle of labor turnover as workers opt for more attractive job conditions. Disruptions from COVID-19, primarily in Southeast Asia, are having dramatic impacts on many industry sectors. Ports congestion in China continues to be a headwind as transportation networks remain stressed. Demand remains at strong levels, despite increased prices for nearly everything.”

The ISM respondents as usual, were complaining about massive supply chain bottlenecks:

  • “The chip shortage is impacting supply lines. So far, we’ve been able to manage it without impacting clients.” [Computer & Electronic Products]
  • “Some factories have been impacted by COVID-19 cases. Malaysian government says factories can operate at only 60 percent of capacity.” [Computer & Electronic Products]
  • “We continue to see extended lead times due to port delays and sea container tightness. Manufacturing capacities are impacted by a lack of workers reducing output. Several chemical facilities have experienced fires, explosions and spills, further challenging suppliers’ ability to deliver on time and in full.” [Chemical Products]
  • “Strong sales continue, but production is limited due to supply issues with chips.” [Transportation Equipment]
  • “Supply chain functions have been relentlessly challenging. All things from freight (both over the road and ocean), already constrained labor forces are further exacerbated by COVID-19 absenteeism. Also, high prices everywhere are wearing our employee base down.” [Food, Beverage & Tobacco Products]
  • “Oil prices have remained higher than planned and is helping to secure capital funds and project sanctions for 2021-22 projects.” [Petroleum & Coal Products]
  • “Bookings/sales continue to be strong. Persistent supply issues — including availability of materials, freight/logistics/containers, and allocation of key commodities — continue to hamper production ramp to meet demand. Also struggling with lack of labor in several factories. Commodities are still inflationary, but price increases have leveled.” [Furniture & Related Products]
  • “Business is strong. Part shortages are our largest business constraint. We cannot fulfill orders to customers in reasonable lead times. Now booking out into 2022, and it will get worse as we hit our cyclical high demand in the fourth quarter.” [Electrical Equipment, Appliances & Components]
  • “Business is going strong, but raw material prices still under increasing price pressure. Labor is still an issue.” [Plastics & Rubber Products]
  • “Continue to be unable to hire hourly personnel or machine operators due to few applicants. Steel and aluminum remain in short supply. New business continues to grow and come in. Unable to handle influx of orders without staff, both hourly and salaried.” [Fabricated Metal Products]
  • “Customer order backlog continues to climb because we are unable to raise production rates due to supplier parts and manpower challenges. Continue to see price increases with key commodities, and logistics is an ongoing challenge that has no end in sight.” [Machinery]

Meanwhile, Siân Jones, Senior Economist at IHS Markit was even more gloomy:

“US goods producers continued to register marked upturns in output and new orders in August, as demand flourished once again. That said, constraints on production due to material shortages exerted further pressure on capacity as backlogs of work rose at a near-record rate.

“Not only were firms facing difficulties trying to clear outstanding work, they also faced further hikes in supplier costs. The pace of cost inflation exceeded the previous series record amid a pervasive scarcity of inputs. Favourable demand conditions allowed finished goods prices to also rise at an unprecedented rate, as firms sought to protect their margins.

“Delivery times lengthened at the second-sharpest rate in over 14 years of data collection, with purchasing activity still rising markedly. It was not only producers who highlighted stockpiling, however, as reports of customers shoring up their holdings of finished items resulted in a substantial drop in post-production inventories. Challenges rebuilding such stocks, including material and labour shortages, and everburgeoning levels of incomplete work are likely to remain a feature for some time to come.”

All in all, there is something for everyone here – manufacturing dropping (PMI) in line with the global trend, but also rebounding as per the ISM on the back of new order and inventory strength… while record high prices are rolling over… while contracting employment – coupled with today’s poor ADP print – means Friday’s payrolls will likely be a dud, forcing the Fed to either minimize its upcoming taper or delay it entirely.

 

iii) Important USA Economic Stories

California port pileup shatters record 

(Greg Miller/Freightwaves)

California Port Pileup Shatters Record And Imports Still Haven’t Peaked

 
TUESDAY, AUG 31, 2021 – 07:30 PM

By Greg Miller of FreightWaves

From anchorage stats to forward arrivals, ocean bookings, and inventory-to-sales numbers, all the latest data paints the same picture: The U.S. congestion crisis has never been more severe than it is now — and it’s getting worse.

Hope for any relief this year has vanished. French carrier CMA CGM is the latest in a long line of market participants to push back its timeline on normalization. Capacity constraints “are expected to continue until the first half of 2022,” CMA CGM warned on Friday.

Alarmingly, America’s import system — which is already stretched to the limit — looks like it will have to handle even higher volumes next month.  The likely outcome: Carriers will be forced to cancel more sailings as terminal berths max out and ships get stuck at anchor, even more cargo will get “rolled” (pushed to a future sailing), and importers will face even longer delays and even less slot availability as they scramble to build inventories for holiday sales.

More ships stuck at anchor than ever before

According to the Marine Exchange of Southern California, there were 47 container ships at anchor or drifting off the ports of Los Angeles and Long Beach on Sunday, a new all-time high. The earlier high of 40 at anchor was set on Feb. 1 and matched several times last week. The tally rose to 44 on Friday and stood at 46 on Monday.

Pre-COVID, an average of 16 container ships were at berths or at anchor on any given day (with any ships at anchor being a rare occurrence). On Sunday, there were 76 box ships either at berths, at anchor or drifting — 4.8 times the pre-COVID level.

 

(Chart data: American Shipper based on data from Marine Exchange of Southern California. Data bi-monthly Jan 2019-Nov 2020; daily Dec 2020-present)

There are now almost 60% more container ships at anchor than at berth. The Marine Exchange data shows that Los Angeles/Long Beach terminals accommodated an average of 28 ships each day this month. All the rest is overflow that heads to the so-called “parking lot” in San Pedro Bay.

Automatic identification system (AIS) ship-positioning data from MarineTraffic revealed extreme congestion in Southern California on Monday, with more than a half-dozen ships forced to drift because anchorage spots were full.

 

Container-ship positions as of Monday afternoon (Map: MarineTraffic)

Even higher volumes on the way

“The expected spike in imports generated by the peak season and pre-shipped cargo is already here, making the operation more complex,” said Hapag-Lloyd on Friday, referring to congestion in Los Angeles and Long Beach. Hapag-Lloyd said that it does not expect California anchorages to clear in 2021.

The Port of Los Beach’s WAVE report, which estimates future arrivals, predicts volumes will rise in the weeks ahead. It forecast loaded import volumes of 120,928 twenty-foot equivalent units for the last week of September, up 34% from the estimated 89,980 TEUs of imports due to arrive next week.

Signal, the Port of Los Angeles’ planning tool, shows the same upward trend, with import volumes of 178,426 TEUs expected the week of Sept. 12-18, up 49% from an estimated 120,070 TEUs this week.

Another forward indicator is a proprietary index of shippers’ bookings on FreightWaves’ SONAR platform. The index has risen sharply in recent weeks, implying higher volumes arriving at U.S. ports in late September and into October.

 

Indexed to Jan. 2019; 10-day moving average of bookings as of date of departure. (Chart: FreightWaves SONAR. To learn more about FreightWaves SONAR, click here.)

Inventories not even close to being replenished

Despite record imports in the first eight months of this year, U.S. retail sales continue to outpace inventory replenishment. Assuming sales don’t collapse and businesses seek to reach pre-COVID inventory-to-sales levels, imports still have a long way to run due to restocking.

The Institute for Supply Management (ISM) produces a monthly report that includes an index of sentiment on customer inventories. That index fell to 25 points in July, the lowest level in its history.

 

(Chart: FreightWaves SONAR)

The Bureau of Economic Analysis publishes detailed monthly data on retail inventories and inventory-to-sales ratios. While there is a lag — the June numbers were published on Friday — the data underscores the magnitude of America’s inventory restocking challenge. 

Jason Miller, associate professor of supply chain management at Michigan State University’s Eli Broad College of Business, provided inflation-adjusted BEA figures excluding motor vehicles and automotive parts (which skew the data). This data shows that retail inventories are now substantially higher than pre-COVID, but sales have been so high that the inventory-to-sales ratio is far below where it was pre-COVID. The level of inventory to sales actually fell slightly in June, to 0.94 months of sales.

 

(Chart: Jason Miller)

Miller also compared the June sales and inventory figures for specific categories of wholesale and retail imports. 

 

(Chart: Jason Miller)

The rise in sales far outpaced the rise in inventories — in some categories, inventories fell — which helps explain the ongoing flood of cargo into U.S. ports and the unprecedented pileup of ships at anchor off Los Angeles/Long Beach.

end

50,000 People Evacuated As Firepocalypse Ravages South Lake Tahoe 

 
WEDNESDAY, SEP 01, 2021 – 03:30 PM

By the day, the fire situation on the ground of South Lake Tahoe continues to worsen, with more than 200,000 acres burned, 50,000 people evacuated, and a red flag warning that remains in effect for a swath of eastern California.

According to the California Department of Forestry and Fire Protection, otherwise known as CAL Fire, the Caldor Fire has burned 204,390 acres as of Wednesday morning and is only 20% contained. The fire is rapidly expanding because of favorable weather conditions, such as low humidity, hot temperatures, and winds. 

Evacuation orders for all residents in the South Lake Tahoe area began on Tuesday, and so far, 50,000 people have been relocated. Winds are expected to pick up Wednesday, adding more fuel to the fire as a red flag warning is in effect until Wednesday night. 

Military planes have been tracking the fire and guiding firefighters to hotspots hidden underneath the dense smoke.

“Very, very sensitive sensors can pick up any signature of heat,” said Joel Kerley, a Department of the Interior bureau aviation manager. “We’ll plot it, we’ll get that down to the firefighter on the ground, and they can go attack it.”

We showed yesterday probably the most shocking video from what is now being dubbed ‘Lake Tahell.’ 

Evacuee Glen Naasz told CBS News that he’s “afraid” the fire will “burn down the jewel of California,” referring to the Lake Tahoe area. 

The Sacramento Bee said the fire threatens 34,000 homes and buildings around Lake Tahoe. Gov. Gavin Newsom has said it’s the state’s “No. 1 priority” to extinguish the blaze. 

At least 4,000 firefighters and 1,000 National Guard members are battling the fire though Mother Nature has yet to offer any signs of relief. 

Another large wildfire burning in the state is the Dixie Fire, which has already scorched 844,000 acres across five counties and is a little more than half contained. 

The silver lining is that the fire will wipe out chipmunks infected with the plague.

END

iv) Swamp commentaries/

How is this for transparency

(Andrezejewski/Forbes.com)

Biden Administration Erased Afghan Weapons Reports From Federal Websites

 
WEDNESDAY, SEP 01, 2021 – 12:35 PM

By Adam Andrzejewski of Forbes.com

The War in Afghanistan has always been a black box, but the Biden administration just made matters worse.

According to an admission obtained from the State Department, Biden officials recently directed federal agencies to scrub their websites of official reports detailing the $82.9 billion in military equipment and training provided to the Afghan security forces since 2001.

The scrubbed audits and reports included detailed accounting of what the U.S. had provided to Afghan forces, down to the number of night vision devices, hand grenades, Black Hawk helicopters, and armored vehicles.

Reports further quantified 208 aircraft and helicopters; 75,000 war vehicles – including 22 Humvees, 50,000 tactical vehicles and nearly 1,000 mine resistant vehicles; and 600,000 weapons – including 350,000 M4 and M16 rifles, 60,000 machine guns, and 25,000 grenade launchers.

The State Department admitted to removing the reports but justified the move as a way to protect Afghan allies. According to a spokesperson:

“The safety of our Afghan contacts is of utmost importance to us. The State Department advised other federal agencies of to [sic] review their web properties for content that highlights cooperation/participation between an Afghan citizen and the USG or a USG partner and remove from public view if it poses a security risk.”

It’s worth noting that the Biden administration already put these partners at risk when officials provided lists of Afghan nationals to the Taliban in a misguided attempt to clear them for evacuation. The Taliban, a known terrorist organization with a history of murdering Afghan citizens working alongside U.S. forces, should never have been trusted with those names.

In addition, many of the removed audit reports merely quantified military equipment without identifying personnel. Here are two important examples:

  1. Government Accountability Office (GAO): OpenTheBooks.com reposted an audit of U.S. provided military gear in Afghanistan (August 2017) after it was removed from its official location.
  2. Special Inspector General For Afghanistan Reconstruction (SIGAR): OpenTheBooks.com reposted an audit of $174 million in lost ScanEagle drones (July 2020) after the report was removed from its official location.

U.S. taxpayers paid for these audits and the U.S.-provided equipment, and citizens should be able to follow the money and hold the Biden administration accountable.

A GAO spokesperson also confirmed in a request for comment its receipt of the directive: “the State Department requested we temporarily remove and review reports on Afghanistan to protect recipients of US assistance that may be identified through our reports and thus subject to retribution.”

One deleted GAO report was four years old and quantified U.S.-provided gear into Afghanistan between 2003 and 2016. It was delivered to the House Armed Services Committee on August 10, 2017. The report was pulled down only hours after we, and other news outlets like Sinclair Broadcast Group, highlighted the report’s existence.

A spokesperson for SIGAR also admitted via a request for comment that the agency pulled reports offline.

“In recent days, some SIGAR reports have been temporarily removed from the agency’s public website due to ongoing security concerns in accordance with guidance received from the U.S. Department of State. This is in line with actions taken by other U.S. federal agencies and is out of an abundance of caution.”

Again, to reiterate, these reports do not include recipient information, and the Taliban already likely controls the war chest in question.

This directive doesn’t seem to be designed to protect our Afghan allies—or, if it is, it’s been poorly executed. One U.S. entity that we will not name has failed to remove a report detailing the Afghan forces by rank. That report, one could argue, could be used as a tally sheet for retribution, but it’s still publicly available.

Here’s another example. One federal report did not include personnel info, but it did include the face of an Afghan pilot sitting in a U.S. Black Hawk helicopter. When we highlighted the report, we flagged the photo to an agency spokesman and chose not to post a link to protect the pilot’s safety. The report has remained online, but since we contacted the spokesman, the photo has been removed.

If the Trump administration started vanishing government reports and justifying their actions with weak, obviously political excuses, can anyone with a straight face say it wouldn’t lead the nightly news?

end

SUCH STUPIDITY!!

Chicago Judge Reverses Decision To Bar Unvaccinated Mom From Seeing Her Son

 
WEDNESDAY, SEP 01, 2021 – 04:25 PM

Following a flurry of news reports about the decision, a ruling barring a mother from seeing her child for refusing to get vaccinated has been reversed by a Chicago judge.

Judge James Shapiro has issued an order vacating portions of his prior order of Aug. 11 allowing Rebecca Firlit to see her son again, according to Rebecca Firlit’s attorney, Annette Fernholz, who gave an interview to Fox 32 Chicago on Monday.

Firlit said she has not seen her son since Aug. 10, and that Shapiro, a Cook County judge, initially revoked her parenting time with her son until she gets vaccinated. Firlit has been divorced from her husband for several years, and said she doesn’t want to get the vaccine due to previous adverse reactions to vaccines.

Shapiro reversed his decision on Monday after the story gained traction in the media, which Fernholz credits with helping Firlit’s case.

“I think there’s been a lot of media outcry,” Fernholz said. “The divorce bar here in Illinois has been responding when they saw it on the news.”

Firlit told Fox that she “was surprised” by the judge’s reversal, “but my reaction is I’m grateful.”

Others say the judge’s motive in reversing the order was more complex: an attorney representing Firlit’s son contends that the judge’s initial decision to bar Firlit from seeing her son was more complicated than her refusing the coronavirus vaccine.

“The judge needs to look out for the best interest of the child,” said attorney Michael Bender, saying Firlit’s behavior during the hearing was “volatile.”

“He was seeing something that clearly said to him, ‘There is an endangerment to the child right now.’ And we’re gonna act on it,” Bender said.

Of course, Firlit insists the judge’s initial decision was wrong, and that the notion that she’s an “endangerment” to her child is ridiculous. “It definitely was not a reason to take my child away from me,” Firlit said. “I’m not an endangerment to him. Nothing was filed about that. Nothing that we were in the hearing for had anything to do with it.”

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

The King Report for August 31, 2021 Issue 6584 Independent View of the News

China bans minors from playing video games on school days — and limits weekend hours
Monday’s new rules — which cut minors’ allowed gaming time from a maximum of 13.5 hours to just three hours most weeks — appear to have spooked investors.  New York-traded shares of Chinese computer and mobile game developer NetEase were down 8.8 percent at $84.59 when US markets opened Monday, while shares of more diversified tech giant Tencent fell 2.5 percent to $57.50…
https://trib.al/M6NCbeQ

Pending home sales fall (-1.8%, +0.4% exp) for second straight month https://yhoo.it/38mUIIH

The August Dallas Fed Manufacturing Index 9.0; expected 23.0; July 27.3

Gallup: 60% of U.S. Adults Say Economy is ‘Getting Worse’ – only 37% think it is “getting better.”
https://cnsnews.com/article/national/michael-w-chapman/gallup-60-us-adults-say-economy-getting-worse?s=02

German Inflation Climbs to Highest Since 2008 on Energy Costs
Consumer prices rose 3.4% in August… Spain reported a rate of 3.3%…
https://www.bloombergquint.com/global-economics/german-inflation-climbs-to-highest-since-2008-on-energy-costs

@CNBCnow: Robinhood, Charles Schwab, Virtu Financial shares hit session lows after Securities and Exchange Commission chairman Gary Gensler tells Barron’s that banning payment for order flow is ‘on the table’

@disclosetv: Corona not likely cause of death in 80 percent of official covid deaths reported in Germany since early Julyaccording to Prof. Dr. Bertram Häussler, head of the independent health research institute IGES in Berlin (Die Welt)  https://twitter.com/disclosetv/status/1432330620563300364?s=02

@SKMorefield: Johns Hopkins’ Dr. Marty Makary and Tucker Carlson discuss the latest slam-dunk evidence showing natural immunity to be superior. Yet, our completely discredited overlords continue to pretend it doesn’t exist(Dr. Makary emphasized that Covid and its treatments have become politicized so much that some truth is verboten.)   https://twitter.com/SKMorefield/status/1431434950897815558

@jimiuorio: Obesity is the biggest national health crisis of any of our lifetimes. It’s not even close…and we are making it worse.  https://twitter.com/jimiuorio/status/1431969613470912514?s=02

Changes in Body Mass Index Among Children and Adolescents During the COVID-19 Pandemic
Youths gained more weight during the COVID-19 pandemic than before the pandemic (Table). The greatest change in the distance from the median BMI for age occurred among 5- through 11-year-olds with an increased BMI of 1.57, compared with 0.91 among 12- through 15-year-olds and 0.48 among 16- through 17-year-olds… The absolute increase in overweight or obesity was 5.2% among 12- through 15-year-olds (relative increase, 13.4%) and 3.1% (relative increase, 8.3%) among 16- through 17-year-olds. Most of the increase among youths aged 5 through 11 years and 12 through 15 years was due to an increase in obesity…  https://jamanetwork.com/journals/jama/fullarticle/2783690

The destroy civil liberties and authoritarian control by invoking ‘public health’ gambit has worked so well, leftists are now applying it to other pet issues.  It is crystal clear what is occurring.

ESJ: Climate Change to Be Treated as Public-Health Issue
New federal office is likely to face pushback over actions that target health industry
   The Department of Health and Human Services is preparing to launch an office that will treat climate change as a public health issue, designed to address what the White House says are health risks including those that disproportionately affect poor and minority communities…
    It is expected to offer protections for populations most at risk—including the elderly, minorities, rural communities and children—and could eventually lead to policies compelling hospitals and other care facilities to reduce carbon emissions, the people said…
https://www.wsj.com/articles/climate-change-to-be-treated-as-public-health-issue-11630315800

Biden calls Black adviser ‘boy’ during FEMA briefing – I’m here with my senior adviser and boy who knows Louisiana very, very well and New Orleans, Cedric Richmond,” Biden said at a press briefing with FEMA after Hurricane Ida rocked Louisiana…  https://www.foxnews.com/politics/biden-calls-black-adviser-boy

Yesterday, about 16:25 ET, the last US C-17 departed Kabul airport, officially completing the US withdrawal.  Hundreds of Americans, Gen. McKenzie guesses, were left behind.

@KatiePavlich: How perfect. Secretary of State Antony Blinken, after confirming hundreds of Americans have been left behind in Afghanistan, turns and walks away. No questions.

Fox’s @Johnny_Joey (ex-Marine): This press conference by General McKenzie has done more to undermine our service and sacrifice than anything I’ve seen in the 11 years since my injury.

Biden breaks vow and leaves stranded Americans in the hands of the Taliban
Biden…on August 19: “If there are American citizens left, we’re going to stay until we get them all out.”
https://foxnews.com/politics/biden-breaks-promise-stay-afghanistan-every-american-evacuated

@ArthurSchwartz: Biden’s Pentagon spokesman John Kirby doesn’t know how many Americans are still stranded behind enemy lines in Afghanistan; punts to the State Department.
https://twitter.com/ArthurSchwartz/status/1432356786481283078

Retired Navy aviator labels Biden admin claim ‘false,’ says Americans denied entry into Kabul airport – Video reportedly shows Americans denied Kabul exit
https://www.foxnews.com/media/navy-aviator-odom-hegseth-evacuating-americans-kabul-biden

@JacquiHeinrich: No American citizens on last 5 military flights out of Kabul, Gen. McKenzie says.  The last U.S. citizens left 12 hours before the last five military flights. (WHY????)

@laralogan: From senior US source: house-to-house executions in Kabul following US mil departure. There are no words for what this administration has done to all of us – Afghan and American.

Taliban pins terrifying ‘night letters’ on doors of those who helped the West in Afghanistan… warning them to surrender or die
https://www.dailymail.co.uk/news/article-9941673/Taliban-night-letters-warn-helped-West-Afghanistan-surrender-die.html

@HeshmatAlavi: The Taliban flying American-made Blackhawks in Afghanistan.  The footage is not clear but a person is hanging outside the chopper. Reminder: The Biden administration left 33 UH-60 Blackhawks for the Taliban. https://twitter.com/HeshmatAlavi/status/1432416243462590464

@Resilient_Vet: The Taliban now actually flying US BlackHawk helicopters, hanging people by the throat from them!! The American President will never be forgiven for this!! (Disturbing pic at link)
https://twitter.com/Resilient_Vet/status/1432399047374086150

J. Christian Adams: 15 Million Mail Ballots Unaccounted For in 2020
The president of the Public Interest Legal Foundation (PILF) told Breitbart News Washington political editor Matt Boyle on Sirius XM’s Breitbart News Saturday that 15 million mail ballots were unaccounted for in the 2020 presidential election… This is not data that we are speculating about,” he added. “This is federal data, and that’s where we get the 15 million number. Fifteen million ballots were sent in the mail last year that never ever came back and were counted” (emphasis added)…
https://www.breitbart.com/politics/2021/08/28/j-christian-adams-15-million-mail-ballots-unaccounted-for-2020-election/amp/

GOP @RepAndyBiggsAZ yesterday: Yet again, Biden says he’ll get in “trouble” with his staff for taking questions. Let me repeat: The Leader of the Free World is more worried about getting a time-out then answering tough questions.

NBC’s Chief Foreign Correspondent: Biden’s Afghanistan Withdrawal is ‘Worst Capitulation’ In Our Lifetimes
https://beckernews.com/nbcs-chief-foreign-correspondent-bidens-afghanistan-withdrawal-is-worst-capitulation-in-our-lifetimes-41239/

@ggreenwald: The clearest and most compelling voices on Afghanistan now are the veterans who served there and know first-hand that, whatever your views of the withdrawal, the real issue is that the entire 20-year war (there and elsewhere) was a fraud and a lie, and they feel rightly betrayed:
https://twitter.com/ggreenwald/status/1432422605517172741

Convicted rapist reached the U.S. on Afghan evacuation flight
“They are bringing far too many people in far too quickly to be able to effectively vet them,” said Ken Cuccinelli, former deputy secretary at Homeland Security in the Trump administration…
https://www.washingtontimes.com/news/2021/aug/30/convicted-rapist-reached-us-afghan-evacuation-flig/

U.S. Central Command statement on defensive strike in Kabul
We are aware of reports of civilian casualties following our strike on a vehicle in Kabul today.
    We are still assessing the results of this strike, which we know disrupted an imminent ISIS-K threat to the airport. We know that there were substantial and powerful subsequent explosions resulting from the destruction of the vehicle, indicating a large amount of explosive material inside that may have caused additional casualties. It is unclear what may have happened, and we are investigating further.  We would be deeply saddened by any potential loss of innocent life.
https://www.centcom.mil/MEDIA/STATEMENTS/Statements-View/Article/2756293/update-us-central-command-statement-on-defensive-strike-in-kabul/

@ggreenwald: Having military leaders bomb a residential area and wipe out an entire family including children, then watch them & their media allies lie about it (we killed only ISIS planners, no civilian casualties) is the most fitting end to the war in Afghanistan:… In fact, here’s a 2012 article — when I was still at Salon — on how the corporate media protects Obama by always claiming everyone he killed was a “militant” or “terrorist” even when so many of those he killed were civilians: same behavior as yesterday.  https://www.salon.com/2012/06/02/deliberate_media_propaganda/

Pentagon prepared for ‘mass casualty’ attack at Kabul Airport hours before explosion – Politico
Detailed notes of three classified calls provided to POLITICO show top Pentagon officials knew of imminent threat, but struggled to close Abbey Gate… But the Americans decided to keep the gate open longer than they wanted in order to allow their British allies, who had accelerated their withdrawal timeline, to continue evacuating their personnel, based at the nearby Baron Hotel… (leaked on purpose?)
https://www.politico.com/news/2021/08/30/pentagon-mass-casualty-attack-kabul-507481

US ‘blames BRITAIN’ for making Kabul ISIS-K suicide attack death toll worse: Pentagon says airport gate at center of blast was kept open longer for more UK evacuees…
https://www.dailymail.co.uk/news/article-9939877/Report-Pentagon-prepared-mass-casualty-event-just-24-hours-Kabul-suicide-blast.html

@PhilipWegmann: Asked to comment on this (above Politico) story, John Kirby bristles: “I’m absolutely not going to speak to a press story that was informed by the unlawful disclosure of classified information and sensitive deliberations here at the Pentagon.”

Blinken Claims US Never Gave Taliban Lists of Names, Then Details Names US Gave the Taliban
(No accountability for lying or incompetence due to MSM bias!)
https://dailycaller.com/2021/08/29/blinken-us-never-gave-taliban-lists-names-then-details-lists-names-us-gave-taliban/

@abigailmarone: Asked about the threat posed by the Taliban having control $85bn of US military equipment, Psaki says “the world will be watching,” as if that means anything.  Beyond infuriating.

@emilymiller: They are creating websites with legitimate seeming ties and asking for tons if PII including exact current location. This is being used to target high up AFG officials… source is the retired special ops on the ground in Afghanistan trying to rescue Americans & Afghans but the USG stopped cooperating and on Sunday started actively blocking their efforts on Sunday – cited Biden.
    China is deeply involvedWe are experience tech attacks now and the TB don’t have that capability. I know China owns the mineral rights to all of Afghanistan and from what I heard we have to be gone before they can start mining so it does not look like we are connected to it.“… 

Time to Think the Unthinkable by ex-CIA operation officer Charles (Sam) Faddis
The Chinese have for decades put massive effort into buying American politicians and policymakers. The appearance was, to anyone who would bother to look at the evidence, that they may well have bought Biden… Consider what he has done in the seven months he has been in office:…
    Joe Biden is dispatching John Kerry to mainland China. Officially the talks concern climate change. The concern is high that Kerry, one of the architects of the disastrous Iran nuclear deal intends to negotiate away the independent status of the island of Taiwan. Kerry is on record as believing Taiwan “belongs” to China and supporting a “one China” policy.
    Secretary of State Tony Blinken has effectively invited the Communist Chinese to step into the vacuum left by our withdrawal from Afghanistan. He describes Chinese involvement in Afghanistan as a “positive thing.” The vast mineral wealth of Afghanistan now belongs to China, which already has a huge strategic advantage in terms of rare earth minerals… PS- Charles S. (Sam) Faddis, Senior Partner- Artemis, LLC is a former CIA operations officer with thirty years of experience in the conduct of intelligence operations in the Middle East, South Asia and Europe.
https://andmagazine.com/talk/2021/08/30/time-to-think-the-unthinkable/

The War in Afghanistan Is What Happens When McKinsey Types Run Everything
An Afghan General blames defense contractors for the collapse of the Afghan army. A government inspector blames the “the pervasiveness of overoptimism” by U.S. generals. It’s all that, and more.
    [Gen.] McChrystal and much of our military leadership is tight with consultants like McKinsey, and that whole diseased culture from Harvard Business School of pervasive over-optimism and finance-venture capital monopoly bro-a-thons. McKinsey itself had involvement in Afghanistan, with at least one $18.6 million contract to help the Defense Department define its “strategic focus,” though government watchdogs found that the “only output [they] could find” was a 50-page report about strategic economic development potential in Herat, a province in western Afghanistan.” It turns out that ‘strategic focus’ means an $18.6 million PowerPoint.
     In other words, the war in Afghanistan is like seeing management consultants come to your badly managed software company where everyone knows the problem is the boss’s indecisiveness and cowardice, except it’s violent and people die. I mean, U.S. military leaders, like bad consultants or executives, lied about Afghanistan to the point it was routine. Here are just a few quotes from generals and DOD spokesmen over the years on the strength of the Afghan military, which collapsed almost instantly after the U.S. left….
    None of these tens of thousands of Ivy league encrusted PR savvy highly credentialed prestigious people actually know how to do anything useful. They can write books on leadership, or do powerpoints, or leak stories, but the hard logistics of actually using resources to achieve something important are foreign to them, masked by unlimited budgets and public relations…
    It’s just remarkable that contractors removed software and weapons systems from the Afghan army as they left. Remember, U.S. generals constantly talked about the strength of the Afghan forces, but analysts knew that its air force – on which it depended – would fall apart without contractors..
https://mattstoller.substack.com/p/the-war-in-afghanistan-is-what-happens

@ColumbiaBugle: Tucker Carlson: “The experts, in the state department and the CIA, took trillions of dollars to install people in Afghanistan who are every bit as clueless as they are…They picked a college professor to run Afghanistan…When leaders refuse to hold themselves accountable, over time people revolt.”

The storms of August: Biden’s devastating month stokes midterm fears among Democrats
A Democratic member of the House, speaking on the condition of anonymity out of fear of retribution, said many in the caucus believe the lower chamber of Congress is already lost in the midterms. Other Democrats said they are bracing for the prospect of Republicans making double-digit seat gains…  Republicans have been laying a foundation for a midterm argument rooted in casting Biden as a weak leader who has lost control of a swirl of crises, from the surge in migrants at the southern border to a rise in violent crime and now the situation in Afghanistan…
https://www.washingtonpost.com/politics/biden-august-democrats-midterms/2021/08/28/2783e326-0797-11ec-a654-900a78538242_story.html

@ChadPergram: McConnell on Fox when asked about governors banning mask mandates in schools: I am kind of reluctant to give governors a voice about how to handle their responsibilities during the pandemic. (Do you trust Mitch’s judgement?  Mitch and his ilk need to go ASAP!)

How The GOP Committed Suicide Trying to Stop Trump
McConnell wanted Trump convicted, that’s for sure. He pushed that sham until it was clear that he didn’t have the votes. The GOP establishment wanted Trump dead and buried to clear the way for Their People in 2024. At the 11th hour, McConnell realized that he didn’t have the votes and so he told his Republican colleagues: he would no longer vote to convict President Trump. The entire pointless exercise had only served to enrage the GOP base. This time there was no ground cover to hide his double-dealing. The Turtle had been caught…
     Two months earlier, Mitch had told Americans that he would never be bullied into giving them any more stimulus money for COVID — one week after he told Americans that he was prepared to give the rest of the world $700 billion… It’s not particularly important why the GOP did next to nothing to block (or even delay) the most radical and unqualified people (Becerra, Levine, Gupta) that the Biden Administration nominated for high government positions. It’s more important to recall that the GOP establishment put up a lot more resistance to Trump’s nominations for high government positions
     What we’re witnessing right now in America is the two-party system collapse into a one-party system. On all the important issues in America like vaccines, lockdowns, spending bills, fake insurrections, big tech censorship, and election reform there’s no meaningful difference between the two parties. There’s just a different set of talking points
    As you watch the total collapse of the GOP establishment, it now seems obvious why so many GOP voters picked a flamboyant Manhattan real estate developer with a TV show about firing incompetent people to lead the party in 2016. Our corrupt political class is so out of touch that Donald J. Trump got elected to save us from them… https://emeralddb3.substack.com/p/how-the-gop-committed-suicide-trying

Family of Dead Marine Walk Out on Joe Biden, Says He Only Talked About Himself and His Son
The president brought up his son, Beau, according to her account, describing his son’s military service and subsequent death from cancer. It struck the family as scripted and shallowa conversation that lasted only a couple of minutes in “total disregard to the loss of our Marine,” Roice said…
https://trendingpolitics.com/pregnant-widow-who-lost-her-husband-from-kabul-attack-blasts-biden-after-their-conversation-didnt-feel-genuine-crugg/

FBI suffers another black eye, admits it hid payments to informant in white supremacist case
The Justice Department admits agents failed to disclose to a court that they had paid — to the tune of six figures — a white supremacist publisher for years to be an investigative source…
https://justthenews.com/government/courts-law/monfbi-suffers-another-black-eye-admits-it-hid-payments-informant-white

@bgmasters: Read this profile of California’s most powerful teachers union president. Terrifying.  “It’s OK that our babies may not have learned all their times tables…. They know the words insurrection and coup.”… “It’s not radical to do whatever we want to your children, social justice demands it.” 
https://www.lamag.com/citythinkblog/cecily-myart-cruz-teachers-union/

@TheBabylonBee: In Response to Afghanistan Disaster, Pelosi Begins Impeachment Proceedings against President Trump 

end

Let us close out tonight with this offering courtesy of Greg Hunter of USA watchdog with Steve Quayle

(Greg Hunter)

Drought, Famine & Vax = Depopulation – Steve Quayle

By Greg Hunter’s USAWatchdog.com 

Renowned radio host, filmmaker and book author Steve Quayle says America is under attack from many sides.  One is in our face, and many do not realize how dire the situation is in the western U.S.  Quayle says the so-called 1,200 year Megadrought is being manufactured with geoengineering.  The globalists are cutting off the water, and that means cutting food supplies.   Quayle explains, “We have got record low water levels that are being broken.  We have absolute power issues coming up. . . . I am trying to tell people this:  the days of taking water for granted are over.”

Quayle has a new film coming out at the end of September called “Megadrought: Vanishing Water.”  The water shortage and extreme drought is all fitting into the Great Reset.  Quayle explains, “He who controls the head waters controls life.  This is why you are going to begin to see water wars.  In this film, we are dealing with global shortages of water and not just the U.S.  The U.S. is the most pronounced drought. . . . This issue is seen globally and I believe part of the Great Reset . . . It’s about trying to get people controlled down to 1,500 calories a day.  Isn’t it interesting, the UN eats filet mignon, and they are telling you and me to get used to eating insect protein.  The idea is controlling the food, and if you control food, you control life. . . . I am being told that when the water crisis gets acute enough on the West Coast, California, Washington, and Nevada will have border lockdowns.  What is a border lockdown?  Any state that has water does not want to be rushed with 20 or 40 million people, and that’s what they are talking about.”

Quayle says, “The big reservoirs in the western U.S. are down more than 60%  . . . and there is no way to fill them back up quickly.”

It’s not just the USA conducting weather warfare.  Quayle says, “It’s not just the U.S. Airforce.  The Russians are doing it.  The Chinese are doing it. . . . These are weather wars.  Everybody is manipulating weather against everybody.  Look at the rains in China.”

Quayle says the Megadrought will all end up as a food shortage or worse.  Quayle says, “Drought them out or starve them out.  Drought equals famine.”  Quayle predicts, “We are going to have the biggest mass migration out of the western U.S. that we have ever seen.”

When will the public wake up to how bad the Megadrought situation really is?  Quayle says, “My sources are telling me the drought problems are going to get so acute by November of 2021, there will be no denial. . . .This is warfare against the American people. . . . drought, famine, ‘vax-sassination’ all add up to depopulation. . . . John Deagel predicted there would be only 100 million people in the USA by 2025. . . . We are undergoing an attempted communist takeover and take down.  When Stalin came to power, he starved the Ukrainians . . . and five million people died.  So, starvation is a weapon of the globalists and elitists of the New World Order.”

Join Greg Hunter as he talks to radio host, filmmaker and top selling author Steve Quayle as he talks about his upcoming film “Megadrought: Vanishing Water.”  9/1/21  (There is much more in the 58 minute interview.)

(To Donate to USAWatchdog.com click here)

 

 
 
 
 
 

After the Interview:

There is free information on SteveQuayle.com.

To see the “Megadrought: Vanishing Water” trailer, click her

 
Well that is all for today
 
I will see you THURSDAY night

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