SEPTEMBER 9/GOLD UP $7.10 TO $1798.30//SILVER UP 11 CENTS TO $24.13//GOLD STANDING AT THE COMEX RISES TO 3.73 TONNES//SILVER OZ STANDING RISES TO 27.5 MILLION OZ//COVID COMMENTARIES//VACCINE UPDATES/WHITE HOUSE ISSUES NEW RULES FOR PEOPLE WHO ARE UNVAXXED:THEY ARE FORCING ALL FEDERAL EMPLOYES, PUBLIC WORKERS, CONTRACTORS WHO DO FEDERAL WORK MUST GET VAXXED/ THIS WILL LEAD TO MASS PROTESTS AND A HUGE ESCALATION IN THE FIGHT TO PRESERVE WHAT GOES INTO SOMEONE’S BODY IS ONLY UP TO THEM!/ USA TO LIMIT USE OF MONOCLONAL ANTIBODIES TO COVID PATIENTS SHOWING UPPER RESPIRATORY DISTRESS//QUEBEC CANADA ISSUES THEIR EDICT TO VACCINATE ALL HEALTH CARE WORKERS//CHINA NEW RULES: THEY HALT ALL NEW ON LINE GAMES//THAT SHOULD KILL THEIR INDUSTRY//ECB ANNOUNCES A NON TAPER, TAPER//HUGE INCREASES IN ELECTRICITY PRICES AND NATURAL GAS PRICES IN EUROPE //CITIZENS ARE REVOLTING ON THIS//AUSTRALIA CONFISCATES BOOZE DELIVERED TO LOCKDOWNS!! NEW ZEALAND NOW A COMPLETE POLICE STATE WITH ONLY A FEW COVID CASES//LESS THAN 12 MILLION AMERICANS ON THE DOLE AS THE FEDS’ CUTS OFF MANY LAST WEEK//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1798.30 UP $7.10   The quote is London spot price

Silver:$24.13 UP 11  CENTS  London spot price ( cash market)

 
 
 
 

Closing access prices:  London spot

i)Gold : $1794.50 LONDON SPOT  4:30 pm

ii)SILVER:  $24.03

//LONDON SPOT  4:30 pm

 

 

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

 

 

PLATINUM  $980.70 down  $3.65

PALLADIUM: $2177.00  down $80.55   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 today5/19

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,790.700000000 USD
INTENT DATE: 09/08/2021 DELIVERY DATE: 09/10/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
657 C MORGAN STANLEY 12
661 C JP MORGAN 5
737 C ADVANTAGE 19 2
____________________________________________________________________________________________

TOTAL: 19 19
MONTH TO DATE: 1,051

 
 

issued:  0

Goldman Sachs stopped: 0

 

NUMBER OF NOTICES FILED TODAY FOR  SEPT. CONTRACT: 19 NOTICE(S) FOR 1900 OZ  (0.0590 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  1051 FOR 105,100 OZ  (3.269 TONNES)

 

SILVER//sept CONTRACT

20 NOTICE(S) FILED TODAY FOR  100,000   OZ/

total number of notices filed so far this month 5174  :  for 25,870,000  oz

 

BITCOIN MORNING QUOTE  $46,232 DOWN 159  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$46,584  UP 193  DOLLARS 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  UP $7.10 AND NO PHYSICAL TO BE FOUND ANYWHERE:

NO CHANGE IN GOLD INVENTORY AT THE GLD: 

 

WITH RESPECT TO GLD WITHDRAWALS:  (OVER THE PAST FEW MONTHS)

 

GOLD IS “RETURNED” TO THE BANK OF ENGLAND WHEN CALLING IN THEIR LEASES: THE GOLD NEVER LEAVES THE BANK OF ENGLAND IN THE FIRST PLACE. THE BANK IS PROTECTING ITSELF IN CASE OF COMMERCIAL FAILURE

ALSO INVESTORS SWITCHING TO SPROTT PHYSICAL  (phys) INSTEAD OF THE FRAUDULENT GLD//

THIS IS A MASSIVE FRAUD!!

GLD  998.52 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 11 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: 

 

547.866  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 168,01up  0.72 OR 0.43%

XXXXXXXXXXXXX

SLV closing price NYSE 22.28 up $.11 OR 0.52%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI FELL BY A SMALL 245 CONTRACTS TO 138,942, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE TINY SIZED LOSS IN OI OCCURRED WITH OUR  $0.30 LOSS IN SILVER PRICING AT THE COMEX  ON WEDNESDAY.

OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.30)

AND THEY WERE SUCCESFUL IN KNOCKING OUT SOME SILVER LONGS AS WE HAD A SMALL LOSS OF 87 CONTRACTS ON OUR TWO EXCHANGES.  WE  ALSO HAD I) HUGE  BANKER SHORT COVERING AS THEY ARE VERY ANXIOUS TO GET OUT OF DODGE!!/WE ALSO HAD  SOME ii) REDDIT RAPTOR BUYING//.    iii)  A SMALL 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 75,000 OZ//NEW STANDING 27.525 MILLION OZ  / v) VERY SMALL 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 – 33
 

 

 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
SEPTEMBER
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF SEPT:
 
3482 CONTACTS  for 6 days, total 3482 contracts or 17.410 million oz…average per day:  583 contracts or 2.901 million oz per day.

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

SEPT:  17.410 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 SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 245 WITH OUR 30 CENT LOSS SILVER PRICING AT THE COMEX ///WEDNESDAYTHE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 125 CONTRACTS( 0 CONTRACTS ISSUED FOR SEPT AND 125 CONTRACTS ISSUED FOR DECEMBER) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.
 
TODAY WE HAD A TINY SIZED LOSS OF 120 OI CONTRACTS ON THE TWO EXCHANGE/THE DOMINANT FEATURE TODAY:(WITH OUR $0.30 LOSS/HUGE BANKER SHORTCOVERING AS THEY GET OUT OF DODGE/  AND WE HAVE A  SMALL INITIAL SILVER OZ STANDING FOR SEPTEMBER 27.640 MILLION OZ FOLLOWED TODAY BY A GOOD QUEUE JUMP.  OF 75,000 OZ TODAY//NEW STANDING 27.525 MILLION OZ//
 

WE HAD  20 NOTICES FILED TODAY FOR 100,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 3586  CONTRACTS TO 503,186 _ ,,AND FURTHER FROM  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. 

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY:  –  29 CONTRACTS.

THE FAIR SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $4.90///COMEX GOLD TRADING/WEDNESDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE HAD SOME LONG LIQUIDATION AS THE TOTAL LOSS ON OUR TWO EXCHANGES TOTALLED 992 CONTRACTS..  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR SEPT AT 3.586 TONNES, FOLLOWED BY TODAY’S 1400 OZ QUEUE JUMP //NEW STANDING 3.7356 TONNES// 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $4.90 WITH RESPECT TO WEDNESDAY’S TRADING

 

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

WE HAD A SMALL SIZED LOSS OF 992  OI CONTRACTS (3.086 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 2594 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 0 & DEC 2594  ALL OTHER MONTHS ZERO//TOTAL: 2594 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 503,186. 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  SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 992  CONTRACTS: 3586 CONTRACTS DECREASED AT THE COMEX AND 2594 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 992 CONTRACTS OR 3.086 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2594) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (3586 OI): TOTAL LOSS IN THE TWO EXCHANGES: 992 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 1400 OZ QUEUE JUMP//NEW STANDING 3.7356 TONNES / 3) SOME LONG LIQUIDATION, /// ;4)FAIR SIZED COMEX OI LOSS 5) 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 : 10,513, CONTRACTS OR 1,051,300 oz OR 32.69 TONNES (6 TRADING DAY(S) AND THUS AVERAGING: 1752 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 6 TRADING DAY(S) IN  TONNES: 32.69 TONNES

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

THUS EFP TRANSFERS REPRESENTS  32.69/3550 x 100% TONNES  0.92% 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          32.69 TONNES INITIAL ISSUANCE (EXTREMELY LOW 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 SMALL 245 CONTRACTSTO 138,942 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  4 1/2 YEARS AGO.  

EFP ISSUANCE 125 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 125  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  125 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 245 CONTRACTS AND ADD TO THE 125 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A TINY SIZED LOSS OF 120 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 0.600 MILLION  OZ, OCCURRED WITH OUR $0.30 LOSS IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 
 

3. ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED UP 17.94  PTS  OR 0.49%   //Hang Sang CLOSED DOWN 604.93 PTS OR 2.30%      /The Nikkei closed DOWN 173.00 PTS OR 0.57%   //Australia’s all ordinaires CLOSED DOWN 1.90%

/Chinese yuan (ONSHORE) closed UP TO 6.4566  /Oil DOWN TO 68.45 dollars per barrel for WTI and 71.90 for Brent. Stocks in Europe OPENED ALL RED   /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4566. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4553/ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 3586 CONTRACTS TO 503,186 MOVING FURTHER FROM 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 DECREASE OCCURRED WITH OUR LOSS OF $4.90 IN GOLD PRICING WEDNESDAY’S COMEX TRADING.WE ALSO HAD A SMALL EFP ISSUANCE (2594 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 FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 2594 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  & DEC.  594 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2594  CONTRACTS 

 

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

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED 992 TOTAL CONTRACTS IN THAT 2594 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A STRONG SIZED COMEX OI OF 3586 CONTRACTS.WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR SEPT   (3.7356),

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

SEPT: 3.7356 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 $4.90).,AND THEY WERE  SUCCESSFUL IN FLEECING SOME LONGS AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED 3.086 TONNES.ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR SEPT. (3.7356 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 – 29 CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET LOSS ON THE TWO EXCHANGES :: 992 CONTRACTS OR 99200 OZ OR 3.0867 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:  503,186 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 50.32 MILLION OZ/32,150 OZ PER TONNE =  15.65 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1576/2200 OR 71.13% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY  157,041 contracts//    / volume//dreadful////

CONFIRMED COMEX VOL. FOR YESTERDAY: 169,914 contracts//poor

 

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

 

SEPT 9

/2021

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

 

Deposits to the Customer Inventory, in oz
 
 
 
 
678.698
 
oz
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
19  notice(s)
1900 OZ
 
0.0590 TONNES
No of oz to be served (notices)
150 contracts
15,000 oz
 
0.4665 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
1051 notices
105,100 OZ
3.269 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  1 deposit into the customer account
i) Into Delaware: 678.698 oz
 
TOTAL CUSTOMER DEPOSITS 689.698  oz  
 
 
 
 
 
 
We had 0  customer withdrawals.
 
 
 
 
 
 
total customer withdrawals nil    oz
     
 
 
 
 
 
 
 
 
 

We had 1  kilobar transactions 1 out of  2 transactions)

ADJUSTMENTS 1//  dealer to customer

Brinks:  385.812 oz (12 kilobars)

 

 
 
 
the front month of September has an open interest of 169 for a GAIN of 8 contracts. We had 6 notices served on Wednesday.  Thus we gained 14 contracts or an additional 1400 oz will stand for delivery in this non active delivery month of September for gold as they negated a fiat bonus for not accepting an EFP.
 
 
 
 
OCTOBER GAINED 678 CONTRACTS UP TO 39,150
NOVEMBER GAINED 2 CONTRACTS TO STAND AT 25
.
DEC LOST 4810  TO STAND AT 412,617
 

We had 19 notice(s) filed today for 1900  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 19  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 2 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 (1051) x 100 oz , to which we add the difference between the open interest for the front month of  (SEPT: 169 CONTRACTS ) minus the number of notices served upon today  19 x 100 oz per contract equals 120,100 OZ OR 3.7356 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 (1051) x 100 oz+( 169)  OI for the front month minus the number of notices served upon today (19} x 100 oz} which equals 120,100 oz standing OR 3.7356 TONNES in this  active delivery month of SEPTEMBER.

We GAINED 14 contracts or an additional 1400 oz will not stand for delivery over on this side of the pond.

TOTAL COMEX GOLD STANDING:  3.7356 TONNES

 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

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

260,194.748 PLEDGED  MANFRA 8.0931 TONNES

298,468.054, oz  JPM  9.28 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

total pledged gold:  2,340,661.384oz                                     72.804 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 498.17 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 3.7356 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  18,356,689.209 oz or 570.97 tonnes
 
 
 
total weight of pledged: 2,340,661.384 oz or 72.804 tonnes
 
 
registered gold that can be used to settle upon: 16,016,028.0 (498.17 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes16,016,40280 (498.17 tonnes)   
 
 
total eligible gold: 15,735,122.546 oz   (489.42 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  34,091,811.715 oz or 1,060.39 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  934.035 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

SEPT 9/2021

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
 
255,128.918  oz
 
Manfra
Brinks
 
 Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
39,997.416
 OZ
 
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
20
 
CONTRACT(S)
 
100,000  OZ)
 
No of oz to be served (notices)
331 contracts
 1,655,000oz)
Total monthly oz silver served (contracts)  5174 contracts

 

25,870,000 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 Delaware:  39,997.416 oz

 

 
 
 

JPMorgan now has 186.995 million oz  silver inventory or 51.23% of all official comex silver. (186.995 million/361.636 million

total customer deposits today 2974.000   oz

we had 3 withdrawals

i) out of Manfra  128,169.558  oz 

 

ii) Out of Brinks:  125,989.160 oz

iii) out of  Delaware; 397.200 oz

 

 

total withdrawal 255,128.918        oz

 

adjustments: 0 
 
 
 

Total dealer(registered) silver: 105.686 million oz

total registered and eligible silver:  361.635 million oz

a net.0.210 million oz  leaves  the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
For Sept. we have an open interest of 351 for a loss of 100 contracts.  We had 115 notices served on Wednesday, so we gained 15 contracts or 75,000 additional oz will  stand for delivery at the comex in this very active delivery month of September.
 
 
 

OCTOBER LOST 8 CONTRACTS TO STAND AT 2261

NOVEMBER GAINED 8 TO STAND AT  23

DEC LOST 405 CONTRACTS DOWN TO 122,536

 
NO. OF NOTICES FILED: 20  FOR 100,000 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  5174 x 5,000 oz = 25,870,000 oz to which we add the difference between the open interest for the front month of SEPT (351) and the number of notices served upon today 20 x (5000 oz) equals the number of ounces standing.

Thus the SEPT standings for silver for the SEPT./2021 contract month: 5174 (notices served so far) x 5000 oz + OI for front month of SEPT(351)  – number of notices served upon today (20) x 5000 oz of silver standing for the SEPTEMBER contract month .equals 27,525,000 oz. ..

We gained 15 contracts or 75,000 oz will  stand on this side of the pond 

 

 

TODAY’S ESTIMATED SILVER VOLUME  42,968 CONTRACTS // volume dreadful///

 

FOR YESTERDAY  47,842  ,CONFIRMED VOLUME/ /awful

 

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% (SEPT9/2021)

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   (SEPT9)/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 9/WITH GOLD UP $7.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 998.52 TONNES/

SEPT 8/WITH GOLD DOWN $4.90 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 998.52 TONNES

SEPT 7/WITH GOLD DOWN $35.35 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY REST AT 998.52 TONNES.

SEPT 3/WITH GOLD UP $22.00 TODAY: A HUGE  CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .74 TONNES FROM THE GLD.//INVENTORY RESTS AT 999.52 TONNES

SEPT 2/WITH GOLD DOWN $4.45 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1000.26 TONNES

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 9 / GLD INVENTORY 998.52 tonnes

 

LAST;  1128 TRADING DAYS:   +73.71 TONNES HAVE BEEN ADDED THE GLD

 

LAST 978 TRADING DAYS// +  249.13. 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 9/ WITH SILVER UP 11 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 547.866 MILLION OZ//

SEPT 8/WITH SILVE DOWN 30 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.037 MILLION OF FROM THE SLV///INVENTORY RESTS AT 547.866 MILLION OZ//

SEPT 7/WITH SILVER DOWN 32 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 549.903 MILLION OZ.

SEPT 3/WITH SILVER UP 83 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 549.903 MILLION OZ//

SEPT 2/WITH SILVER DOWN 29 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 977,000 OZ FROM THE SLV////INVENTORY RESTS AT 549.903 MILLION OZ

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/

AUGUST24/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

SEPT8/2021      547.866 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 silve

 

-END-

ii) Important gold commentaries courtesy of GATA/Chris Powell

She is a hero and should not go to jail for exposing the corrupt banks

(David Mack/BuzzFeed)

Ex-Treasury official whose leaks exposed corrupt banks goes to prison for it

 

 

 Section: Daily Dispatches

 

By David Mack
BuzzFeed News, New York
Friday, September 3, 2021

Natalie “May” Edwards has made a pact with her 16-year-old daughter: Every night before bed for the next six months, each will say a quiet prayer at the exact same time. Her daughter will be doing so from home in Virginia. Edwards will be doing so from a women’s federal prison in West Virginia.

“I am emotionally prepared as far as entering the facility and meeting the other people,” Edwards, 43, told BuzzFeed News in an interview on Thursday evening. “I am not emotionally prepared for being separated from my daughter and my husband and my immediate family.”

A former Treasury Department official, Edwards — whose decision to leak a trove of highly confidential government documents to BuzzFeed News prompted a massive investigation that exposed how dirty money moves through the global banking system and helped spur legislative action in the US and beyond — reported to Federal Prison Camp, Alderson, on Friday morning to begin her six-month sentence. The minimum-security prison is where Martha Stewart and Billie Holiday both served time.

The information she provided to BuzzFeed News formed the basis of the FinCEN Files, which was a finalist for the Pulitzer Prize, journalism’s highest honor.

But many across the US are not familiar with Edwards. Labeling her “the forgotten whistleblower,” the Washington Post described her in July as “one of the most important whistleblowers of our era, and yet hardly anyone remembers her name.” …

… For the remainder of the report:

https://www.buzzfeednews.com/article/davidmack/treasury-official-whistleblower-global-banking-prison

 

 END

Craig Hemke shows that inflation is not transitory and stagflation is coming our way

(Craig Hemke/TFMetals.//report

 

 

Craig Hemke at Sprott Money: Inflation is not ‘transitory’ and stagflation is on the way

 Section: Daily Dispatches

10:20p ET Wednesday, September 8, 2021

Dear Friend of GATA and Gold:

Inflation, the TF Metals Report’s Craig Hemke writes today, is far from “transitory” if the commodity charts he presents are any indication. Indeed, Hemke writes, the data is starting to scream “stagflation.”


Investors, Hemke says, will see through the Federal Reserve’s propaganda soon and the monetary metals will have their day.

Hemke’s analysis is headlined “Not Transitory” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/Not-Transitory-Craig-Hemke-September-08-2021

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

OTHER PHYSICAL STORIES

 
end
 
CRYPTOCURRENCIES/
 

CIA’s Bitcoin Heist

 

The CIA does much more than train Khost Protection Echelon terrorists and killers, https://foreignpolicy.com/2020/11/16/afghanistan-khost-protection-forces-cia-us-pullout-taliban/ the CIA is expert at money laundering, too.  World Banker Ashraf Ghani may have fled Afghanistan with only $300M US, but the CIA likely looted Afghanistan’s Central Bank reserves for much more via a favored US federal money laundering mechanism: bitcoin

 

In April the US announced its plan to withdraw from Afghanistan by September 11th, with some haggling yet to occur among the MIC and coup class. When Biden or a deputy pressed for the withdrawal to occur, a CIA plan was devised to loot the Afghanistan Central Bank by laundering funds via bitcoin, beginning in mid-July. How do we know?  Because the performance of bitcoin verifies the CIA caper as described by a source. From mid-July to present, bitcoin has proven to be a most exceptional haven for laundered funds of any origin – including funds which originate from the mad dog’s Warfare State. No, bitcoin does not threaten the dollar because bitcoin is a derivative of it.

 

Bitcoin is essential for State black ops and has proved its ethereal monetary worth again by laundering billions in US-seized Afghanistan Central Bank funds. But the seizure of Afghanistan’s Central Bank billions (along with Afghanistan’s 1,731 400oz gold bars which disappeared into Federal Reserve vaults in 1939) https://goldseek.com/article/afghanistans-gold-ny-fed-1731-old-bars-held-1939  and conversion to bitcoin, does not explain the $376B US increase in bitcoin cap since July. So, what does?

 

Figures vary, but expenditures of many billions find their way to Afghanistan every month — or did. Inflationary dollars of particularly large amounts flowed to Afghanistan in recent years, especially the last two years as galloping US inflation increased costs at all levels. Now that ‘hostilities have ended’ where will those inflationary billions go? The militarist money train cannot be stopped without a burst of the derivative bubble impacting Wall Street. For example, to (in part) pay down the Fed’s balance sheet with billions formerly destined for Afghanistan is unacceptable; such a pragmatic move will spook Wall Street, spook the MIC, and counter MMT. But most of all, such pragmatism must be accountable!

 

The Fed manufactures $120B in QE every month and the western monetary system has been awash with cash for almost two years, since the monetary powers bungled the ‘contagion recession’.  To simply end QE is anathema to the Money Cartel and gamed markets.  https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2021/07/26/awash-in-cash-state-lawmakers-ask-how-long-the-boom-will-last There must be somewhere for those excess inflationary dollars to go, opaque and unaccountable.    The need for opacity with regard to the sterilization of inflationary capital is such that the Fed ‘lost’ three of their QE programs, somewhere. https://wallstreetonparade.com/2021/08/three-of-the-feds-wall-street-bailout-programs-vanish-from-its-monthly-reports-to-congress/  Where? Bitcoin. As such, the governmental need for the bitcoin black hole becomes not just apparent, but essential.

 

Bitcoin’s black hole thus becomes the most convenient stop for former militarist and Fed-manufactured wayward billions. By laundering to bitcoin, there is no need to inform Congress about where the funds have come from, or where they have gone. There is no need to answer questions from the public. Or to provide a balance sheet. Bitcoin’s opacity is precisely what’s needed by the CIA’s Black-Ops State and Eagle Base CIA monetary shenanigans in Afghanistan just provided one great example.

 

The ESF and ‘desk’ bitcoin trades are opaque in accordance with their Central Bank, Primary dealers, Treasury, and BIS operations. Their attendant bitcoin dark pools and black ops funding cannot be exposed by any investigative journalist — much less by a slack-jaw, puerile, and totally corrupt US Congress. Even though the performance of bitcoin can’t match the trillion or so that the Fed’s repo market launders every night https://fred.stlouisfed.org/series/RRPONTSYD  the ESF has every capability to leverage inflationary QE dollars to bitcoin for their eventual elimination. In that way, bitcoin is replacing the battlefield as a means to exterminate inflationary dollars.

 

So let’s see bitcoin for what it is: a useful black hole for the Security State to exterminate billions in inflationary dark pool capital, when those billions have nowhere else to go. We’ve just seen the CIA’s laundering of Afghanistan’s frozen Central Bank funds into bitcoin.*  Ironically, on the back of that massive black ops dark pool is the legitimate use for bitcoin: to evade the very sanctions and weaponization of the US dollar that the very same Security State imposes…

 

 *funds into the real economy must be accountable; bitcoin is not.

Steve Brown

end

URANIUM

Japan hints at restarting nuclear power plants

(zerohedge_

“It Has Arrived”: Uranium ETF Sees Record Inflows Amid Retail Buying Frenzy; Japan Hints At Restart Of Nuclear Power Plants

 
THURSDAY, SEP 09, 2021 – 05:00 PM

One week ago, and about a year after we turned bullish on the uranium sector which has more than doubled since despite Democrats’ unwillingness to include uranium in their ESG umbrella…

… we presented readers with a unique take from Harris Kupperman, who explained how the Sprott Physical Uranium Trust could serve as a springboard to substantial further gains not only in the price of uranium itself but also uranium-linked stocks and ETFs. Comparing its action to the positive feedback loop that emerged in the Grayscale Bitcoin Trust, which served as the springboard allowing bitcoin to rise from $10,000 a year ago to over $60,000 earlier this year, Kupperman said that the Sprott Trust had the potential to “upend” the illiquid uranium market by creating an actual physical shortage that would then translate to much higher prices, to wit:

The Sprott Physical Uranium Trust commonly (known as SRUUF), is the entity that has upended the uranium market. Since launching its ATM 13 days ago, it has acquired 2.7 million pounds of uraniumThis is an average daily rate in excess of 200,000 pounds or roughly a third of global production on an annual basis. If GBTC is the roadmap to follow, as the price of uranium begins to appreciate, the inflows into the trust should accelerate. Interestingly, there are plenty of other entities also purchasing physical uranium, uranium that utilities were counting on for their future needs. The squeeze is on.

As expected, the utilities are blissfully unaware. Surprised?? I’m not. Utilities are quasi-governmental agencies, managed by the types of fukwits who’d work at your local DMV, except they enjoy stock options. The fact that they’ve ignored the coming squeeze shouldn’t be surprising. Inevitably, they’ll demand rate increases to buy back this uranium–it’s not their money anyway. This is your bid at some point in the future.

Kupperman summarized his bullish thesis as follows: “Uranium is a small market at roughly $6.3 billion in annual consumption (180 million pounds at $35/lb). SPUT has raised approximately $85 million in the 13 days since the ATM went live. It’s hoovering up supply and is already struggling to procure pounds, as shown by their increasing cash balance—cash that they’re legally forced to spend. Something is going to give here, and I suspect it’s the price of uranium.”

Since then, Uranium prices have risen as expected, while the price of both uranium stocks and the SRUUF has soared.

And while gains in the price of physical uranium are welcome for commodity speculators and producers such as Cameco, what was really needed for the Uranium thesis to take off in the capital markets, was similar euphoria in paper Uranium, namely ETFs which track the sector. That’s precisely what happened today.

As Bloomberg’s in-house ETF expert Eric Balchunas writes, the Uranium ETF URNM is having the “biggest flow week of its life after a 50%(!) move up in less then 3wks.” Indeed, URNM Is now up 82% YTD and 216% since launching 18mo ago. It’s now about half a billion and trading over $10m/day regularly.

As Balchunas summarized, “In short, it has arrived.

But while the mass retail investor has clearly discovered uranium on the “ETF table”, and more upside is assured if the SRUUF mechanism described above accelerates and especially if the upward momentum is picked up by the reddit daytrading army, another far bigger catalyst looms which few have noticed.

On Wednesday, shares of Japanese utility companies surged after after Taro Kono, the administrative reform minister and the most likely candidate to replace Yoshihide Suga as prime minister, said Japan needs to restart nuclear power plantsin order to realize its goal of achieving carbon neutrality by 2050.

“It’s necessary to some extent to restart nuclear plants that are confirmed to be safe, as we aim for carbon neutrality,” Kono, currently regulatory reform minister, told reporters according to Japan Times.

“Basically, our priority is to increase the use of renewable energy sources, but it would be possible to use nuclear plants whose safety is confirmed for now if there are power supply shortages,” Kono said, adding that while “nuclear plants will disappear eventually, I’m not saying that they should be scrapped immediately, like tomorrow or next year.”

Taro Kono

The comments are notable as Kono had been a vocal opponent of nuclear power in the past; some renewable energy stocks have surged on bets that he’ll win the race to become Japan’s next prime minister. And once the world realizes what a Japanese restart of NPPs would mean for uranium demand, uranium stocks could double from here purely on uranium supply/demand dynamics, returning to levels last seen before the 2011 Fukushima disaster which mothballed Japan’s nuclear energy.

And if that wasn’t enough, Sanae Takaichi, a former internal affairs minister who is also gunning for the newly vacant prime minister position, said that she would make small modular reactors a national project, read: more uranium demand. The comment was made during Wednesday’s press conference when she announced her formal bid for LDP leadership.

In short, after years of being left for dead, the uranium sector is not only vastly outperforming the broader market but its upside from here could be dramatic.

 

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

i) Chinese yuan vs usa dollar/CLOSED UP AT 6.4555 

 

//OFFSHORE YUAN 6.4553  /shanghai bourse CLOSED UP 17.94 PTS OR 0.49% 

HANG SANG CLOSED DOWN 604.93 PTS OR 2.30 %

2. Nikkei closed DOWN 173.00 PTS OR 0.57% 

 

3. Europe stocks  ALL RED

 

USA dollar INDEX DOWN TO  92.58/Euro RISES TO 1.1830

3b Japan 10 YR bond yield: FALLS TO. +.040/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 109.94/ 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:: 69.81 and Brent: 73.11

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.326%/Italian 10 Yr bond yield FALLS to 0.74% /SPAIN 10 YR BOND YIELD DOWN TO 0.35%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.06: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 0.85

3k Gold at $1800.80 silver at: 24.24   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 36/100 in roubles/dollar) 72.97

3m oil into the 69 dollar handle for WTI and  73 handle for Brent/

3n Higher foreign deposits out of China sees huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 109.94 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 .9194 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0877 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 0.326%

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 1.33% early this morning. Thirty year rate at 1.945%

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

6.  TURKISH LIRA:  UP  TO 8.47..  VERY DEADLY

Futures Slide Ahead Of ECB, Sentiment Hit By Latest China Crackdown

 
THURSDAY, SEP 09, 2021 – 07:44 AM

US index futures fell along with European stocks amid jitters that the ECB could taper its asset purchases today as well as growing concerns over the slowing economic recovery while China’s ongoing regulatory crackdown on the tech sector weighed on sentiment. Nasdaq 100 and S&P 500 futures were each down 0.2%, but off worst levels, hinting at further losses after the underlying indexes dropped on Wednesday. Europe’s equity benchmark headed for a five-week low, while 10Y Treasury yields dropped along with the dollar. The dollar dropped, the euro snapped three days of losses and European bond yields steadied ahead of a European Central Bank policy announcement in which investors will be looking for information about bond buying plans for the fourth quarter. Treasuries advanced.

Heavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.  In U.S. premarket trading, China’s tech stocks slid after Beijing officials told firms including Tencent and NetEase to end their focus on profit in gaming. The selloff extended to the U.S. premarket hours when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.

Lululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%. Here are some other notable movers this morning:

  • Cardiff Oncology (CRDF) soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”
  • GameStop (GME) declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.
  • Humanigen (HGEN) shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.

Investors are reassessing valuations in U.S. stock markets and are fretting over the implications of a slowing recovery. The (now fading) spread of the delta virus variant has taken its toll on the U.S. economy as well as global supply chains, depressing growth while boosting inflation (as does the Fed’s $120BN in monthly liquidity injections), while China’s regulatory crackdown on the technology sector worsens the macro outlook.

The fear of delta “is driving the downside risks to the U.S. economy, but also more broadly the global economy as that delta strain spreads around the world,” Kim Mundy, a currency strategist and international economist at the Commonwealth Bank of Australia, said on Bloomberg Television.

On Wednesday, the Fed’s Beige Book survey showed U.S. economic activity decelerated in the past two months as consumers pulled back on spending due to safety concerns. However, shortages meant inflationary trends remained stubborn, according to the findings. Further evidence of global price pressures came from China, where factory-gate inflation surged to a 13 year high.

European equities were under pressure for a third day as investors await the European Central Bank’s update on the timing of a possible reduction in stimulus. Euro Stoxx 50 dropped as much as 1% before halving losses. FTSE 100 and IBEX underperform, remaining off ~1% as European peers stage a modest bounce. Oil & gas, travel and mining stocks are the worst performers.  Miners were among the declining sectors as iron ore futures slipped on demand concerns. EasyJet shares fell as much as 14% after the low-cost airline announced it will raise GBP1.2b via a share sale and was said to have rejected a takeover offer from Wizz Air. The Stoxx 600 Health Care index sank to a session low following a report that the White House will release a plan to cut prescription-drug prices. Sub-group falls as much as 1.2%, touching the lowest intraday level since Aug. 6; heavyweight constituents Roche, Novartis, AstraZeneca, Sanofi and Norvo Nordisk all lower. Here are some of the biggest European movers today:

  • Assa Abloy shares rise as much as 7.3% after analysts gave the thumbs-up to the Swedish lockmaker’s plan to buy Spectrum Brands’ hardware & home improvement unit for $4.3 billion.
  • Hays gains as much as 4.1% as Barclays upgrades the employment- services company to overweight, citing a strong market rebound.
  • Beiersdorf climbs as much as 2.6% as Goldman Sachs upgrades to buy, saying the stock offers robust growth at an attractive valuation.
  • Genus tumbles as much as 11% after the breeding firm warned on its 2022 sales outlook amid a slump in the price of pork in China.
  • Prosus falls as much as 6.6% as China gaming concerns hit Tencent

Earlier in the session, Asia stocks closed lower for a second day, weighed down by declines in Chinese and Korean tech firms on concerns about how government regulations will affect earnings. The MSCI Asia Pacific Index slid as much as 1.2%, the most since Aug. 20, in a broad selloff led by benchmarks in Hong Kong and Australia. Tencent was the biggest drag on the regional gauge, as Chinese regulators took aim at gaming firms for focusing solely on profit. Kakao and Naver extended losses sparked by warnings from lawmakers about abuse of market dominance. Investors’ tech-sector worries widened after authorities in South Korea seemed to echo China’s months-long crackdown, with the Financial Services Commission in Seoul saying it would sternly respond if fintech firms show no efforts to correct practices that could violate local rules. Thursday’s decline in regional stocks followed hawkish comments made by some Federal Reserve officials overnight, with traders also focusing on the European Central Bank meeting later.

“The negative lead from Wall Street is being taken as an excuse for a bit of profit-taking in Asia after the strong rally in late August,” said Ilya Spivak, head of Greater Asia at DailyFX. Australia’s S&P/ASX 200 had its worst day since mid-May as iron ore miners slumped amid lower prices for the steel-making ingredient. The broad Asia selloff also saw Japan stocks snap their eight-day winning run.

In Fx, the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session. 

In rates, Treasuries held small gains from intermediate sector to long-end of the curve with S&P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.  The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps

In commodities, crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.

Looking at the day ahead now, and the main highlight will be the ECB meeting and President Lagarde’s subsequent press conference. Other central bank speakers include the Fed’s Daly, Evans, Bowman, Williams, Kaplan, Kashkari and Rosengren, and Bank of Canada Governor Macklem. In addition, data releases include the weekly initial jobless claims from the US.

Market Snapshot

  • S&P 500 futures down 0.3% to 4,500.75
  • MXAP down 1.0% to 204.62
  • MXAPJ down 1.3% to 662.15
  • Nikkei down 0.6% to 30,008.19
  • Topix down 0.7% to 2,064.93
  • Hang Seng Index down 2.3% to 25,716.00
  • Shanghai Composite up 0.5% to 3,693.13
  • Sensex little changed at 58,202.28
  • Australia S&P/ASX 200 down 1.9% to 7,369.53
  • Kospi down 1.5% to 3,114.70
  • STOXX Europe 600 down 0.5% to 465.53
  • German 10Y yield down 0.07 bps to -0.331%
  • Euro up 0.1% to $1.1829
  • Brent Futures down 0.1% to $72.51/bbl
  • Gold spot up 0.3% to $1,793.85
  • U.S. Dollar Index little changed at 92.59

Top Overnight News from Bloomberg

 

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stock markets were mostly negative as the downbeat mood rolled over from the US and Europe amid lingering global growth concerns, recent Fed taper rhetoric and China’s ongoing regulatory crackdown. ASX 200 (-1.9%) declined beneath the 7,500 level and was heavily pressured by the losses in mining names, with sentiment also clouded by the rampant COVID-19 infection rates and despite the announcement by NSW Premier Berejiklian of the recovery road map whereby restrictions will be relaxed when 70% of adults are fully vaccinated but with some parts of regional New South Wales are to end lockdowns on Saturday. Nikkei 225 (-0.6%) was subdued amid currency headwinds and with Japan confirming plans to seek an extension of the state of emergency for Tokyo and other areas through to at least month-end although other reports suggested November was being considered for the easing virus restrictions. Hang Seng (-2.3%) and Shanghai Comp. (+0.5%) traded mixed with notable losses in tech names including Tencent after the government and cyberspace regulator summoned gaming companies to instruct them to implement measures against gaming and entertainment, as well as warned of severe punishment for those not implementing regulations. China also reiterated it is to crackdown on illegal behaviour in the ride-hailing industry and banned private tutors from offering courses through online platforms, while debt concerns surrounding Evergrande and mixed inflation data that showed softer than expected consumer prices but firmer factory gate prices to suggest an uneven recovery, further added to the cautious mood. Finally, 10yr JGBs were steady with only minimal gains despite the mostly negative risk tone across the region and amid mixed results at the 5yr JGB auction in which a higher b/c was counterbalanced by lower accepted prices.

Top Asian News

  • Kim Oversees First Military Parade Since Biden Became President
  • Alibaba Sex Crime Suspect’s Release Shows China #MeToo Woes
  • Corn Hits Seven-Month Low as Traders Count Down to Key Crop Data
  • Solar Startup Born in Garage Is Beating China to Cheaper Panels

Eurozone bourses have rebounded off worst levels on ECB day but remain softer overall (Euro Stoxx 50 -0.5%; Stoxx 600 -0.4%) after experiencing pronounced downside at the cash open. The UK’s FTSE has failed to stage a rebound of a similar degree amid Sterling dynamics, and with mixed messaging out of the BoE regarding the conditions for a rate hike – which at face value could be perceived with a hawkish tilt – FTSE 100 futures tested 7k to the downside. US equity futures, meanwhile, trade softer across the board but in tighter ranges and off earlier lows after early weakness seeped from Europe – with the more cyclically-tailored RTY (-0.5%) narrowly lagging its ES (-0.3%), NQ (-0.3%) and YM (-0.3%) counterparts. There has been little in terms of fresh fundamental drivers behind the rebound in EZ cash/futures and US equity futures. However, the waters were choppy in early trade and in the run-up to the ECB (full preview available in the Newsquawk Research Suite), whilst participants also eye the weekly US jobless claims alongside a plethora of Fed speakers. Sectors in Europe are predominately in the red with clear underperformance experience in the Travel & Leisure sector, with losses led by easyJet (-10.8%), who announced a rights issue at a discount in a bid to raise USD 1.7bln. Furthermore, the airliner also announced that the Board recently received a prelim takeover approach (speculated to be Wizz Air), which was evaluated and then unanimously rejected. The bidder has since confirmed it is no longer considering an offer for the Co. Back to sectors, Oil & Gas and Retail also reside towards the bottom of the bunch, whilst Real Estate, Autos & Parts post the shallowest losses. In terms of individual movers, Morrisons (+0.2%) is cushioned after topping H1 revenue forecasts, whilst sources via UK press suggested a bidding war for the Co. could take the final offer above the highest current bid of GBP 7bln. Elsewhere, RWE (+1.5%) is bolstered amid reports. that activist ENKRAFT bought over 500k shares of the Co. and is calling for the Co. to divest its brown coal assets. Finally, Sanofi (-1.8%) holds onto losses as its phase 3 PEGASUS trial evaluating rilzabrutinib did not meet its primary or key secondary endpoints.

Top European News

  • Young U.K. Staff Have Forgotten How to Do Work Chat
  • 888 Holdings Shares Slip on New Equity to Fund William Hill Deal
  • Morrison Says U.K. Food Industry Faces More Price Pressure
  • Russian Inflation at Five-Year Peak Boosts Chances for Rate Hike

In FX, the Buck is waning after reaching new recovery highs on Wednesday and perhaps overextending its retracement when setting fresh m-t-d and/or multi-week peaks. In index terms, the DXY has slipped back into a narrower 92.762-528 range compared to yesterday’s 92.864-472 extremes, and the yield backdrop is less supportive in wake of another strong 10 year T-note auction, while the latest Fed Beige Book does little to enhance the prospects for tapering at the September FOMC as growth moderated last month, largely due to Delta-related factors. However, the Greenback and markets in general get more jobs data to assess substantial progress via claims, plus a raft of Fed speakers flanking the final leg of refunding in the form of Usd 24 bn long bonds.

  • JPY/GBP/NZD/CHF/AUD – It’s a close call, but the Yen is just outperforming a group of five majors and gleaning a bit more from the softer/flatter US Treasury dynamic allied to still suppressed levels of overall risk appetite. Hence, Usd/Jpy is retesting support and underlying bids sub-110.00, while Sterling is probing 1.3800 and rebounding further from lows under 0.8600 vs the Euro in response to BoE Governor Bailey’s hawkish MPC rate revelations in front of the TSC. Elsewhere, the Kiwi is trying to form a base around 0.7100, but gaining momentum against the Aussie as the Aud/Nzd cross inches nearer 1.0350 compared to 1.0450+ at one stage in the immediate aftermath of the RBA, and Aud/Usd lags Nzd/Usd between 0.7383-47 parameters. Meanwhile, the Franc has clawed back some ground conceded following verbal intervention from SNB’s Zurbruegg, with Usd/Chf back beneath 0.9200 and Eur/Chf towards the bottom of a 1.0870-97 band.
  • EUR/CAD – The Euro is holding above 1.1800 into the ECB and awaiting direction from the GC with all eyes on PEPP developments amidst very diverse opinions regarding the pace of purchases in Q4 and what happens when the emergency QE envelope is sealed at the end of March 2022 – check out the Research Suite for a full preview of the event. Note, options pricing has ticked up again for Eur/Usd, to 47 pips, and expiries are stacked mostly to the topside, bar 1 bn at the 1.1750 strike that may come into play on a very dovish outturn – see 7.27BST post on the Headline Feed for details and other G10 pairings that have hefty option expiry interest rolling off at the NY cut today, including Aud/Usd and Usd/Jpy. Back to Central Bank impulses, the Loonie has regrouped after the BoC and is pivoting 1.2700 ahead of Governor Macklem’s post-policy meeting speech and Canadian jobs data on Friday.
  • SCANDI/EM – The Nok is straddling 10.3000 against the Eur, as disappointing Norwegian monthly mainland GDP growth offsets some traction derived from the firm line in Brent beyond Usd 72/brl, while the Cny and Cnh are taking mixed Chinese inflation largely in stride along with latest Chinese efforts to crack the whip on tech and keep a lid on commodity prices.

In commodities, WTI and Brent front-month futures are choppy and caged in tight ranges, albeit the benchmarks came off best and worst levels in tandem with stocks. WTI October tested USD 69/bbl (vs high USD 69.55/bbl) while Brent November briefly dipped under USD 72.50/bbl (vs high 72.94/bbl). News flow for the complex has remained light as all eyes turn to the ECB and Fed commentary slated for the rest of the week. In terms of fundamentals, crude production in the Gulf of Mexico is slowly coming back online – but still, some 77% from GoM production remains shuttered (vs prev. 79%), according to the BSEE. Aside from that, supply updates have been minimal post-OPEC+, with attention in the East now turning to any developments on the Iranian nuclear deal. On the demand side, the COVID situation in APAC remains a concern, and Japan confirmed the extension of the Tokyo State of Emergency, whilst the latest EIA STEO cut its 2021 world oil demand forecast by 370k BPD to 4.96mln BPD Y/Y increase but raised forecast for 2022 world oil demand growth by 10,000 BPD to 3.63mln BPD Y/Y increase. Note, OPEC+ last week revised its 2022 oil demand growth up to 4.2mln BPD (prev. 3.28mln BPD), according to sources. In terms of data, the delayed Private Inventory report yesterday was largely bearish, but prices were unfazed. As a reminder, the DoEs today will be released at 16:00BST/11:00EDT. Over to metals, spot gold and silver were trading within narrow bands overnight and throughout the first half of the European morning before the softening Dollar provided prices with a mild lift. From a technical standpoint, the yellow metal sees its 21 DMA (1,794,85/oz) and 50 DMA (1,797.85/oz) in proximity. In terms of industrial metals, LME metals are firmer across the board with nickel and copper outpacing, with some tailwinds felt by the receding Buck. Aluminium hit a fresh 13yr peak amid the ongoing supply woes emanating from the coup in Guinea. Conversely, Dalian iron ore futures saw renewed weakness overnight – with traders citing the dampened demand from steel mills after China lowered its steel output target last month.

US Event Calendar

  • 8:30am: Aug. Continuing Claims, est. 2.73m, prior 2.75m
  • 8:30am: Sept. Initial Jobless Claims, est. 335,000, prior 340,000
  • 9:45am: Sept. Langer Consumer Comfort, prior 58.2

DB’s Jim Reid concludes the overnight wrap

If anyone has directions handy for DB’s main London building then I’d appreciate them ASAP as this morning I’m venturing back into the office for the first time in 18 months. I’m assuming I’ll find my way as I expect a ticker tape parade and a red carpet. Remembering what floor I work on will be the next challenge. At least now when I ask one of my team for a chat I’m unlikely to get “go away I’m too busy to talk” as I do at home. It will be nice to assert my authority again so apologies to my team today.

A final reminder that our latest monthly survey ends today. All responses gratefully received here. There’s a few themes but I’d be especially interested in your latest WFH thoughts and plans in a month where more people are getting back into the office even if the steady state won’t be here for a few months due to delta. The survey asks how many days you’ll likely to work from home after covid has gone. I get the sense that there’s been a push from many firms to get more people back into offices (post covid) since then so it’ll be interesting to see if this appears in the data. It may not or there may be an upcoming clash between workers and employees.

For those interested in the future of work Marion Laboure in my team put out a piece earlier this week (link here) looking at a part of this. It argues that cities will come roaring back. We will see.

Markets had another risk-off session yesterday as investors cast increasing doubt on the sustainability of current valuations. Upcoming central bank meetings (including today’s ECB decision) have added to these jitters, given the prospect that monetary stimulus might start to be withdrawn.

In light of this, global equities lost ground for a second day running, with investors instead moving into safe havens such as sovereign bonds and the US Dollar. By the close of trade, both the S&P 500 (-0.13%) and Europe’s STOXX 600 (-1.06%) had fallen back, thanks to an underperformance among cyclicals on both sides of the Atlantic. It was the third straight daily loss for the S&P, the longest losing streak since mid-July, but this still only amounts to a -0.50% pullback. Consumer durables (-1.67%) and energy (-1.30%) were among the largest laggards, while in Europe autos (-2.23%) and industrial goods (-1.66%) underperformed. In the US, both the small-cap Russell 2000 (-1.14%) and the FANG+ Index (-1.19%) of megacap tech stocks also saw relatively large declines. The former has remained range bound since recording it’s all-time high back in March, while the latter just closed at record highs on Tuesday after recently breaking out of its own 6-month trading range.

Looking ahead though, today’s main highlight will come from the ECB policy decision at 12:45 London time, where investors will be focused on what the Governing Council will decide about the pace of purchases under the Pandemic Emergency Purchase Programme. Previously, investors were much more focused on when the Fed would begin to taper, but comments from ECB Chief Economist Lane that didn’t rule out a move in September, along with a rise in inflation to +3.0% in August (the highest in almost a decade), have brought the decision today into focus. Our European economists are expecting that they will announce a reduction in the pace today, thinking it’s slightly more likely to happen now than in December, but there is still a risk that it could be stalled until then. They think that they’ll drop the word “significantly” from the guidance on the pace of PEPP purchases, and are also expecting that the ECB will raise their staff inflation forecasts relative to the last round in June.

With all that to look forward to, sovereign bonds in Europe were mostly steady yesterday, with yields moving just slightly lower at the long end of the curve. By the close of trade, yields on 10yr bunds (-0.1bps), OATs (-0.6bps) and BTPs (-0.1bps) had all seen modest declines, though that came in spite of a notable rise in inflation expectations. Indeed, the 5y5y forward inflation swap for the Euro Area was up +0.9bps to 1.75% yesterday, just short of its highest level in over 3 years, which was recorded earlier this week. Meanwhile, the 10yr German breakeven was up +1.2bps to 1.585%, its highest level since 2013. Over in the US, 10yr Treasuries saw a -3.6bps decline in yields to 1.338%, though as in Europe that came in spite of a rise in breakevens (+1.4bps), as 10yr real yields (-4.8bps) moved back below the -1% mark.

One of the key headlines overnight has come from the WSJ as it reported that a split in the Democrat camp is deepening over current Fed Chair Jerome Powell’s reappointment. The report added that progressive Democrats are pushing to replace him even though he has firm support elsewhere in the party. Earlier reports had indicated that we will likely hear from President Biden in the current week on the (re)appointment. We will see if this battle has slowed anything down.

Risk appetite has continued to remain weak overnight in Asia with the Nikkei (-0.82%), Hang Seng (-1.60%), CSI (-0.61%), Shenzhen Comp (-0.45%) and Kospi (-1.42%) all losing ground. Futures on the S&P 500 are also down -0.33% while those on the Stoxx 50 are -0.40%. In terms of overnight data releases, China’s August CPI printed at +0.8% yoy (vs. +1.0% yoy expected) while PPI came in at +9.5% yoy (vs. +9.0% yoy expected). So a decent discrepancy.

One asset class that put in a strong performance yesterday were commodities, with Brent Crude (+1.27%) and WTI (+1.39%) the highlight. We also saw natural gas prices in New York (+7.57%) climb to a 7-year high in light of supply concerns ahead of the winter, and aluminium prices rose (+1.4%) to their highest level since 2008 as political unrest in Guinea continued to coincide with rising global demand.

Elsewhere yesterday, we heard a bit more on the US debt ceiling, which is a potential issue coming up soon on the horizon, as Treasury Secretary Yellen said in a letter to Congress that “the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October.” So not long after government funding also runs out on September 30. This comes as Congress works to get the majority of the Biden Administration’s economic policy passed by the end of the month. Speaker Pelosi has promised a vote on the bipartisan infrastructure package by September 27 and has said repeatedly that she wants to pass the USD 3.5 trillion budget resolution that encapsulates the rest of President Biden’s agenda along with that package. While some moderates have balked at the price tag, Pelosi yesterday seemed open to negotiating, saying “I don’t know what the number will be… we will not go beyond ($3.5 trillion).” Her statement comes amidst Axios reporting yesterday that Democrat holdout Senator Joe Manchin has indicated to the White House and congressional leaders that he has specific policy concerns with President Biden’s $3.5 tn spending plan and he’ll support as little as $1tn of it. The report went on to add that at most he is open to supporting $1.5tn.

Meanwhile on the German election, a fresh poll from Allensbach yesterday pointed to a somewhat tighter race than other recent polls. That had the centre-left SPD on 27%, just 2 points ahead of Chancellor Merkel’s CDU/CSU bloc on 25%, while the Greens were much further behind on 15.5%. In addition, unlike most other polls recently, it still had the two major parties winning a majority of the votes between them.

On the data side, the main release yesterday was the US job openings for July, which rose by more than expected to a record 10.934m (vs. 10.049m expected), and just goes to illustrate the supply constraints firms are facing as the economy reopens from the pandemic. Job vacancies outnumbered hires by 4.3 million, the most since 2000 – when the data series began. In fact there were around 2 million more openings than people unemployed. This never happens so a remarkable US labour market at the moment and one only constrained by supply. Meanwhile the quits rate, which measures the number of people who voluntarily quit their job, and is often a good gauge of how much relative power workers have over their employees, remained at 2.7% – near the record high.

To the day ahead now, and the main highlight will be the ECB meeting and President Lagarde’s subsequent press conference. Other central bank speakers include the Fed’s Daly, Evans, Bowman, Williams, Kaplan, Kashkari and Rosengren, and Bank of Canada Governor Macklem. In addition, data releases include the weekly initial jobless claims from the US.

end

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED UP 17.94  PTS  OR 0.49%   //Hang Sang CLOSED DOWN 604.93 PTS OR 2.30%      /The Nikkei closed DOWN 173.00 PTS OR 0.57%   //Australia’s all ordinaires CLOSED DOWN 1.90%

/Chinese yuan (ONSHORE) closed UP TO 6.4566  /Oil DOWN TO 68.45 dollars per barrel for WTI and 71.90 for Brent. Stocks in Europe OPENED ALL RED   /ONSHORE YUAN CLOSED  UP AGAINST THE DOLLAR AT 6.4566. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4553/ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

3 a./NORTH KOREA/ SOUTH KOREA

/SOUTH KOREA

 

end

b) REPORT ON JAPAN

JAPAN/

 

END
 
 

3 C CHINA

CHINA/ECONOMY

China’s tech firms plunge again as Beijing halts approval for all new online games. That should kill off the industry

(zerohedge)

China Tech Firms Plunge As Beijing Halts Approval For All New Online Games

 
THURSDAY, SEP 09, 2021 – 07:05 AM

Technology stocks in China plunged (again) on Thursday after Beijing continued its assault on online gaming companies with a fresh round of government regulations. Tencent and NetEase crashed and dragged down the Hang Seng after the SCMP reported that China will suspend approval for new online games, heating up Beijing’s campaign against gaming addiction

The two gaming giants were already lower following news that Tencent and NetEase had been summoned to a meeting on Wednesday by regulators, led by the Communist Party’s publicity department and gaming watchdog the National Press and Publication Administration, to discuss new restrictions on video games for minors, SCMP sources said who gave a grim warning for the world’s largest video game market: Regulators are saying “everything is on hold”, with the decision to freeze new video game approvals revealed at the meeting.

Another source said new video game approvals would be on hold “for a while,” but there was no mention of a timeline. The reason behind regulation was to “cut the number of new games” and “reduce gaming addiction.” 

As a result of the meeting, Tencent and NetEase plunged as much as 8.4% and 11.7%, respectively, in Hong Kong.

The news was a sharp blow to a tentative rebound that had investors eyeing the return of bull market for Hong Kong-listed tech stocks. It also accelerated a selloff in the Hang Seng Tech Index, which tumbled 4.5%

After edging toward a bull market, the Hang Seng Tech Index is now has 11% up from its Aug. 20 low, and around 40% below its February peak.

“We can see the negative news on the gaming sector also dragging down other tech names, with investors starting to consider the regulatory risks again rather than bottom fishing,” said Bu Jiajie, an analyst at China Galaxy International Securities. “Some tech stocks have had a good rebound in recent days and there is profit taking at the moment.”

“This demonstrates the risk for those attempting to call the bottom with so much uncertainty still hanging,” said Bloomberg Intelligence analyst Matthew Kanterman. “I don’t think the overnight news is a big departure from that which we already knew, but the reaction clearly signifies the skittishness of investors around any regulatory news.” Investors remain torn between enticing valuations and China’s long-term economic prospects on the one hand, and on the other the difficulty of predicting how much further the government will go in its crackdown on private enterprise.

US-listed NetEase was down as much as 5% premarket. 

Bilibili falls 6.9%. 

The selloff spread to Alibaba which was down 5%. 

Beijing’s regulatory crackdown from industry to industry has resulted in hedge fund exposure to Chinese stocks to plunge to a two-year low, according to a new client note by Credit Suisse. 

Last week, the government announced new regulations for the industry, including restricting the amount of time minors play video games to just three hours per week. Cui Chenyu, a game analyst with global market intelligence firm Omdia in Shanghai, told Bloomberg that he is “concerned that the reported suspension is just the start of a broader crackdown on gaming, and about how bad this crackdown might be.” 

“The halt will definitely have a substantial impact on gaming companies. The number of new titles approved in the first half of this year may secure their revenue for 2021, but we would see adverse effect starting from late next year if approvals aren’t resumed quickly,” Chenyu said. 

This isn’t Beijing’s first rodeo in cracking down on the video game industry. In 2018, the communist government suspended new approvals, which resulted in a profit drop for Tencent. Last week, China limited children’s exposure to video games to just 3 hours per week.

SCMP’s source added that Tencent and NetEase are being forced to purge all video games that are toxic for children, including “worshipping money” and “gay love.” The two firms were also directed not to concentrate on maximizing profit at the expense of getting minors addicted to games. 

end

CHINA//AFGHANISTAN

 

China mulling the eventual takeover of Bagram Airbase in Afghanistan

(zerohedge)

China Mulling Eventual Takeover Of Bagram Airbase In Afghanistan: Report

 
WEDNESDAY, SEP 08, 2021 – 11:20 PM

A new bombshell report in US News & World Report claims that China’s military is looking to move into what was previously America’s single most important and iconic airbase in Afghanistan – Bagram airfield

“The Chinese military is currently conducting a feasibility study about the effect of sending workers, soldiers and other staff related to its foreign economic investment program known as the Belt and Road Initiative in the coming years to Bagram, according to a source briefed on the study by Chinese military officials, who spoke to U.S. News on the condition of anonymity,” the report says. 

Bagram Airfield, via US Air Force

The sprawling airfield, which goes all the way back to the Soviet occupation of Afghanistan, lies an hour outside Kabul and was considered the busiest US base in the world during the two-decade long US war.

The Chinese Foreign Ministry on Tuesday vehemently denied and condemned the allegation that China’s PLA military was poised to take the base over, essentially calling it ‘fake news’. “What I can tell everyone is that that is a piece of purely false information,” spokesman Wang Wenbin said.

US News’ sources suggested any such move would be at least two years out, and would require the invitation and consent of the Taliban government.

A week ago Taliban spokesman Zabihullah Mujahid told Italian newspaper La Repubblica that China will be Afghanistan’s “most important partner” as the new government is seeking infrastructure investments. “China is our most important partner and represents a fundamental and extraordinary opportunity for us, because it is ready to invest and rebuild our country,” Mujahid explained.

The spokesman added that there are “rich copper mines in the country, which, thanks to the Chinese, can be put back into operation and modernized. In addition, China is our pass to markets all over the world.” It’s long been no secret that wherever China sees an opportunity to expand its Belt and Road Initiative projects across Asia, it seeks to boost its security presence in the host nation. 

Despite Beijing’s denials, it’s clear that Chinese officials understand well the symbolic and strategic importance of possessing Bagram

Beijing has already recognized the geostrategic importance of Bagram overtly. Its state media almost immediately hopped on the sudden and surprise U.S. departure from the key logistics hub in July, sending a video crew, which gained easy access to it, to document the aftermath of what it described as a “hasty withdrawal” and “humiliating defeat.”

Indeed Chinese state media has taken every opportunity to point out that the US is an empire in retreat from the world stage, particularly after the chaos of the botched evacuation and final exit of last month. 

END

 

4/EUROPEAN AFFAIRS

EU/
 
Large cement manufacturer Lafarge is charged with “crimes against humanity” for funding ISIS.  Actually it looks like they paid off ISIS so that they could operate in Syria.
(zerohedge)

French Supreme Court Charges Lafarge with “Crimes Against Humanity” For Funding ISIS In Syria

 
THURSDAY, SEP 09, 2021 – 05:45 AM

On Tuesday, France’s top court overturned a decision by a lower court to dismiss charges against industrial giant Lafarge that it is guilty of “complicity in crimes against humanity” by funding terrorism in Syria, according to France24.

The ruling by the Court of Cassation, one of the four courts of last resort in France, is a significant setback for the cement manufacturer who is accused of paying terrorist groups, including ISIS, approximately 13 million euros ($15.3 million) so its cement factory in northern Syria could continue operating through the beginning of the country’s ongoing multi-sided civil war

In 2015, Swiss group Holcim merged with Lafarge and had to admit that its Syrian subsidiary paid “representatives” to negotiate with terrorist groups to allow the cement factory to remain open. The company has denied any responsibility for the money ending up in the hands of terrorists. 

The court ruled Lafarge should be prosecuted for violating an EU embargo, funding terrorism, and endangering the lives of others. 

France’s top court ruled Tuesday that “one can be complicit in crimes against humanity even if one doesn’t have the intention of being associated with the crimes committed.”

“Knowingly paying several million dollars to an organization whose sole purpose was exclusively criminal suffices to constitute complicity, regardless of whether the party concerned was acting to pursue a commercial activity,” the court added.

Meanwhile, the Turkish Anadolu Agency uncovered a treasure trove of documents that show Lafarge had secret relationships with the Daesh/ISIS terror group. It also revealed French spy agencies used Lafarge’s network of contacts in Syria to gather intel. None of the intelligence agencies notified the company it was committing a crime over funding the terror groups. 

According to the news agency, Lafarge’s security director Jean-Claude Veillard requested that France’s interior ministry’s intelligence directorate allow it to maintain relations with “local actors” to continue operations. A French intelligence officer asked the company: “Could you give more details about the cement provided to Daesh?”

Anadolu also obtained a 2018 court statement from a French intel officer, code-named AM 02, who said:  “We approached the situation purely opportunistically, taking advantage of Lafarge’s continued work,” adding that the cement company was sending terrorist groups cement between 2012-14. 

In 2018, Reuters pointed out that France asked the US not to bomb the cement plant in 2014. 

More recently, we noted defense contractor PlanetRisk, a data harvesting firm that discovered they could track American special ops, found that US military forces traveled to the cement factory in northern Syria more than once between 2017-18. 

Perhaps Lafarge’s operations extended well beyond cement in northern Syria and was possibly an intel post for US and allied forces? 

END

ECB//TAPERING

The ECB finally decides to taper its Pandemic bond buying to a moderately lower pace. Inflation is sstrong in the EU

(zerohedge)

ECB Tapers Pandemic Bond Buying To “Moderately Lower Pace” As Inflation Overheats

 
THURSDAY, SEP 09, 2021 – 07:56 AM

As noted in our ECB preview, where we discussed that the biggest question facing investors today would be whether the ECB would taper the pace of PEPP purchases in the fourth quarter, moments ago the ECB published its statement which confirmed that the central bank would indeed taper (but don’t call it that or else stonks can get spooked).

While keeping the bulk of its policy in place (rates unch, APP unch) the ECB said that “based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the PEPP than in the previous two quarters.

Some more highlights from the statement:

  • Deposit rate kept at -0.5%, main refinancing rate at zero
  • Inflation may moderately exceed goal for transitory period: “In support of its symmetric two per cent inflation target and in line with its monetary policy strategy, the Governing Council expects the key ECB interest rates to remain at their present or lower levels until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon, and it judges that realised progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilising at two per cent over the medium term. This may also imply a transitory period in which inflation is moderately above target.
  • Price pressures have sufficiently strengthened
  • Net purchases under the APP will continue at a monthly pace of €20 billion. The Governing Council continues to expect monthly net asset purchases under the APP to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end “shortly before” it starts raising the key ECB interest rates.
  • The Governing Council will continue to conduct net asset purchases under the PEPP with a total envelope of EUR 1,850 billion until at least the end of March 2022 and, in any case, until it judges that the coronavirus crisis phase is over.
  • Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the PEPP than in the previous two quarters.

And now attention turns to ECB President Christine Lagarde who will speak at 2:30 p.m. in Frankfurt.

Below is the key redline comparison of the ECB statements:

In kneejerk response, the EUR pushed higher, the Italy-Germany yield gap extended its drop, European stocks pared declines and Eminis jumped trading just below unchanged.

While the ECB tapering its PEPP bond buying to a “moderately lower” pace was priced in, the market appears to have been expecting a more hawkish commitment, which it did not get.

The full statement is below.

Monetary policy decisions

9 September 2021

Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the pandemic emergency purchase programme (PEPP) than in the previous two quarters.

The Governing Council also confirmed its other measures, namely the level of the key ECB interest rates, its forward guidance on their likely future evolution, its purchases under the asset purchase programme (APP), its reinvestment policies and its longer-term refinancing operations. Specifically:

Key ECB interest rates
The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively.

In support of its symmetric two per cent inflation target and in line with its monetary policy strategy, the Governing Council expects the key ECB interest rates to remain at their present or lower levels until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon, and it judges that realised progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilising at two per cent over the medium term. This may also imply a transitory period in which inflation is moderately above target.

Asset purchase programme (APP)
Net purchases under the APP will continue at a monthly pace of €20 billion. The Governing Council continues to expect monthly net asset purchases under the APP to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates.

The Governing Council also intends to continue reinvesting, in full, the principal payments from maturing securities purchased under the APP for an extended period of time past the date when it starts raising the key ECB interest rates, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation.

Pandemic emergency purchase programme (PEPP)
The Governing Council will continue to conduct net asset purchases under the PEPP with a total envelope of €1,850 billion until at least the end of March 2022 and, in any case, until it judges that the coronavirus crisis phase is over.

Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the PEPP than in the previous two quarters.

The Governing Council will purchase flexibly according to market conditions and with a view to preventing a tightening of financing conditions that is inconsistent with countering the downward impact of the pandemic on the projected path of inflation. In addition, the flexibility of purchases over time, across asset classes and among jurisdictions will continue to support the smooth transmission of monetary policy. If favourable financing conditions can be maintained with asset purchase flows that do not exhaust the envelope over the net purchase horizon of the PEPP, the envelope need not be used in full. Equally, the envelope can be recalibrated if required to maintain favourable financing conditions to help counter the negative pandemic shock to the path of inflation.

The Governing Council will continue to reinvest the principal payments from maturing securities purchased under the PEPP until at least the end of 2023. In any case, the future roll-off of the PEPP portfolio will be managed to avoid interference with the appropriate monetary policy stance.

Refinancing operations
The Governing Council will continue to provide ample liquidity through its refinancing operations. In particular, the third series of targeted longer-term refinancing operations (TLTRO III) remains an attractive source of funding for banks, supporting bank lending to firms and households.

***

The Governing Council stands ready to adjust all of its instruments, as appropriate, to ensure that inflation stabilises at its two per cent target over the medium term.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.

end

A good commentary on why Europe needs Nord Stream 2 more than they would like to admit

Irina Slav/OilPrice.com)

Europe Needs Nord Stream 2 More Than It Likes To Admit

 
THURSDAY, SEP 09, 2021 – 05:00 AM

Authored by Irina Slav via OilPrice.com,

When construction began on the second Nord Stream pipeline that was going to double the volume of natural gas ships to Europe – most of it to Germany – the European Union wasted no time in voicing its opposition to more Russian gas.

Led by Ukraine, which fears the transit fee losses that Nord Stream 2 would bring, and the Baltic States and Poland, which are too reliant on Russian gas supplies already, this opposition led to legal battles and threats of sanctions if Russia “tries to use the pipeline as a weapon against other countries,” according to German Chancellor Angela Merkel.

The project also attracted the attention of the new global gas export giant, the United States, for which the European market is a most lucrative one thanks to its repetitively stated desire to diversify gas supply sources.

The U.S. slapped sanctions on the Russian participants in Nord Stream 2 and threatened their Western European partners with sanctions, too. Germany opposed this, for which reason Nord Stream 2 has proceeded and is now nearing completion. And yet, Europe is facing a gas crunch this winter and is eager to see Nord Stream 2 go live.

Earlier this year, when Gazprom fulfilled its gas deliveries to Europe per long-term contracts, it was not enough to fill Europe’s empty storage and prepare it for winter. Ukraine immediately took the opportunity to accuse Moscow of “blackmail,” but the EU, in an unusual move, disagreed.

There were “no indications of specific behaviour by any of our suppliers to drive up prices,” one EC official told the Financial Times in July.

“The current situation is a reflection of global market dynamics. All EU regions now have access to more than one source of gas, so are less vulnerable to supply squeezes coming from an individual supplier,” he added.

It’s a love-hate relationship of the purest kind.

Europe has been desperate to diversify its gas suppliers, but the only diversification it has achieved is via liquefied natural gas and the Trans-Adriatic Pipeline, which at the time it was put into operation—last year—it was years behind schedule.

Yet the TAP, which carries Azeri gas, has only a fifth of the capacity that either Nord Stream pipe has: it can move 10 billion cubic meters annually, which equals 2 percent of Europe’s gas consumption. Also, most of the gas TAP brings into Europe goes to Italy. The pipeline could be expanded, but this is in the future.

Meanwhile, Europe is facing a gas shortage that prompted an executive from the UK’s Centrica, the utility that owns British Gas, to warn that Britons are facing higher electricity bills this winter and some businesses might be forced to curb activity, not only in the UK but in Europe, too.

“We haven’t seen a price situation like this before. If you can’t attract supply the only alternative is to cut demand to balance the market,” Cassim Mangerah told the FT earlier this month.

“If we do see a supply crunch this winter the other way to balance the market is through economic activity. If prices are really high then some gas-dependent businesses in the UK and Europe may simply decide not to produce.”

Meanwhile, Ukraine is still calling on Europe to stop Nord Stream 2 despite assurances from Chancellor Merkel personally that she would not allow Gazprom to deprive Ukraine of the transit fees it receives now for the Russian gas it ships via other pipelines to Europe.

So, Europe resents Russian gas for the influence it gives a country that the EU considers unfriendly, to put it mildly, but at the same time, it is increasingly thirsty for gas because of a prolonged winter last year that drained its reserves. That winter was unfortunately followed by a busy Asian summer that saw LNG cargoes getting diverted from Europe to Asia because Asian buyers were ready to pay higher prices. And here comes the twist: even if the attempts to stop Nord Stream 2 fail, the new pipe will not lead to an increase in European gas deliveries from Russia.

The reason is simple: whenever the pipeline starts, Gazprom’s planned deliveries to Europe for full-2021 are set at 183 billion cubic meters. And with or without Nord Stream 2, this figure will remain unchanged, the state company said at the end of August. The new pipe could ship an additional 5.6 billion cubic meters, the head of Gazprom’s finance department said during an earnings call. But this won’t make a big difference.

So, is Russia already wielding the gas weapon that the EU and Ukraine have feared for years? That may well be the case, according to some observers, per a recent article by Energy Intelligence’ Vitaly Sokolov. On the other hand, Gazprom is sticking to its long-term contract commitments to Europe, so it would be difficult to accuse the company of deliberately cutting supplies. There are no cuts.

Chancellor Merkel said recently that in twenty-five years, Europe will no longer need Russian gas. That would certainly make the continent a lot more energy independent and remove a major headache that is keeping officials in Brussels awake at night. As long as it happens.

end

EUROPE
 
Huge increases in electricity is causing Europeans to go ballistic. Also much higher natural gas prices are hurting. Just look at the charts and witness yourself the huge increases in both commodities
(zerohedge)
 

Furious Europeans Protest Electricity Hyperinflation: Lagarde Are You Watching?

 
THURSDAY, SEP 09, 2021 – 10:25 AM

While a faint glimpse of reality did sneak through into the ECB’s latest set of economic projections, with the central bank now projecting that for the first time in over a decade, Europe’s 2021 inflation will surpass the ECB’s stated target of 2.0%, rising to 2.2% from the June projection of 1.9%, the balance of the outlook remained troubling, with the ECB now predicting inflation drops to 1.7% in 2022 and then again to 1.5% in 2023.

As Bloomberg’s Ven Ram put it, “the key number in all of ECB President Christine Lagarde’s projections is the HICP inflation number of 1.5%, which shows a modest revision that was expected by the markets. In other words, there’s still no sight of 2% inflation over the medium term.   So after all these years of negative rates, APP and PEPP, there will be no end to yet-more accommodation and the ECB is saying its inflation target is still very much work-in-progress. And that against a backdrop where the ECB’s own estimates show growth this year and next will be better than it has been in a long, long time. Little wonder that BTPs and bunds are bid.”

Meanwhile, as Lagarde stakes the ECB’s reputation on the current burst of inflation once again being merely “transitory”, the reality on the ground is far uglier, and as the NYT writes overnight, soaring natural gas prices threaten to become a drag on the economies of Europe and elsewhere. Wholesale prices for the fuel are at their highest in years — nearly five times where they were at this time in 2019, before people started falling ill with the virus.

“The high costs feed into electric power prices and have begun showing up in utility bills, weighing on consumers whose personal finances have already been strained by the pandemic. The price jumps are unusual because demand is typically relatively low in the warmer summer months, raising alarms about the prospects for further increases when demand jumps in the winter.”

The explosive move – which has pushed European gas prices to fresh all-time highs today, also dragging electricity prices to fresh records highs in some countries – is shown below. Take Spain, with one-day ahead power prices at €152.32 per MWh.

Or Germany, where prices also hit a record…

… and in the Netherlands too.

Meanwhile, one-day ahead electricity prices in the UK just going hyperbolic:

Needless to say, in the “green” continent, all of these explosive moves are the direct result of nat gas prices which have similarly hit all time highs.

Putting the recent price surge in context, Spanish households are paying roughly 40% more than what they paid for electricity a year ago as the wholesale price has more than doubled, prompting angry protests against utility companies. Indeed, as Bloomberg’s Javier Blas writes, Spanish day-ahead electricity prices have hit a fresh record high of €141.71 per MWh, which means that “power prices are now front-page story in Spain. A huge political problem.”

“The electricity price hike has created a lot of indignation, and this is of course moving onto the streets,” said María Campuzano, spokeswoman for the Alliance against Energy Poverty, a Spanish association that helps people struggling to pay energy bills.

 

Spanish households are paying roughly double what they paid for electricity a year ago, prompting protests against utility companies

The pain is being felt across Europe, where gas is used for home heating and cooking as well as electric power generation. Citing record natural gas prices, Britain’s energy regulatory agency, Ofgem, recently gave utilities a green light to increase the ceiling on energy bills for millions of households paying standard rates by about 12 percent, to 1,277 pounds, or $1,763, a year.

Several trends are to blame for soaring prices, including a resurgence of global demand after pandemic lockdowns, led by China, and a European cold snap in the latter part of winter this year that drained storage levels. The higher-than-expected demand and crimped supply are “a perfect storm,” said Marco Alverà, chief executive of Snam, the large gas company in Milan.

The worry is that if Europe has a cold winter, prices could climb further, possibly forcing some factories to temporarily shut down.

“If it is cold, then we’re in trouble,” Mr. Alverà said.

It also means that Europe will be begging Putin’s Russia to accelerate the launch of its controversial Nord Stream pipeline; clearly without it European gas prices will go even more parabolic.

Amusingly, the jump has prompted some to call for an acceleration of the shift from fossil fuels to clean domestic energy sources like wind and solar power to free consumers from being at the mercy of global commodity markets. This, of course, is dead wrong because with the ongoing “green” shift across the developed world, existing utilities are mothballing capacity expansions in baseload facilities, meaning that prices will soar much higher until the new “green” regime is established. That could take place in 5 years… or 50.

Even the NYT admits as much noting that “the turbulence in prices may also be a harbinger of volatility if energy companies begin to give up on fossil fuel production before renewable sources are ready to pick up the slack, analysts say. In addition, the closure of coal-fired generating plants in Britain and other countries has reduced flexibility in the system, Mr. Alverà said.”

Meanwhile, in the US gas prices have also risen as well, and while Henry Hub briefly rose above $5/mBtu on Wednesday, the highest since 2014…

… US prices are only around a quarter of those being paid in Europe. The United States has a big price advantage over Europe because of its large domestic supply of relatively cheap gas from shale drilling and other activities, while Europe must import most of its gas.

The immediate worry for markets in Europe is that suppliers failed to follow their usual practice and used the summer months to fill storage chambers with cheap gas that will be used during the winter, when cold weather more than doubles the consumption of gas in countries like Britain and Germany. A sharp drop in Russian gas supplies via the Yama-Europe pipeline did not help.

Instead, suppliers responded to the cold weather late last winter by draining gas storage facilities. Subsequently, they have been reluctant to top them up with high-priced gas. As a result, and as we warned one month ago, European storage facilities are at the depleted levels usual in winter rather than the peaks of fall.

“The market is very nervous as we move into the winter season,” said Laura Page, an analyst at Kpler, a research firm. “We have very low storage levels for the time of year.”

Europe imports around 60 percent of its gas, with supplies coming by pipeline from Russia and to a lesser extent Algeria and Libya. In other words, how much more Europeans will spend on gas this winter, literally depends on Vladimir Putin.

And while liquefied natural gas, arriving by ship from the United States, Qatar and elsewhere, usually helps balance the market, this year, L.N.G. carriers have been drawn to higher prices in China, South Korea and Brazil, where a drought has caused a drop in power generated by dams. As a result, Italy, Spain and northwest Europe have seen a sharp decline in liquefied natural gas infusions, according to data from Wood Mackenzie, a market research firm.

Adding to the tight situation in Europe, Groningen, the giant gas field in the Netherlands that long served as a safety valve for both its home country and western Germany, is being gradually shut down because of earthquakes and environmental concerns. Over the last year European gas prices have risen from around $4 per million British thermal units to about $18.

Russia, the largest gas supplier to Europe, and Algeria have substantially increased their exports but not enough to ease market concerns. Some analysts question whether Gazprom, Russia’s gas company, is pursuing a high-price strategy or trying to persuade the West to allow the completion of its Nord Stream 2 pipeline project, which will deliver gas from Russia to Germany.

“On the face of it, it looks as though some sort of game is being played here,” said Graham Freedman, an analyst at Wood Mackenzie. On the other hand, Mr. Freedman said, it could be that Gazprom doesn’t have any more gas to export. A spokeswoman for Gazprom said: “Our mission is to fulfill contractual obligations to our clients, not to ‘reduce the concerns’ of an abstract market.” She added that Gazprom had increased supplies to near-record levels this year.

Construction of the 746-mile pipeline, which runs under the Baltic Sea, was halted last year just short of completion off Germany’s shores by the threat of sanctions from the United States. But in a deal with Germany in July, the Biden administration agreed to drop its threat to stop the pipeline. On Monday, the management company for the project said it aimed to have the pipeline operating this year.

In any case, whatever the reason behind the electricity hyperinflation, we suggest that the ECB and Christine Lagarde pay close attention to staple electricity prices which – more than anything – threaten to send inflation expectations sharply higher at a time when the ECB is also injecting roughly €100BN in liquidity into the market, and if protests accelerate – and/or turn ugly especially if they reach Frankfurt – the ECB will suddenly find itself in a very unpleasant situation.

 

 

end

 
GERMANY/ELECTIONS
Ren activists step up the pressure ahead of German elections.  Inflation is heating up and so are rents.  They want a 6 year freeze on rents.
(The local.de)

“Housing Is A Human Right”: Rent Activists Step Up Pressure Ahead Of German Elections

 
THURSDAY, SEP 09, 2021 – 02:00 AM

By Imogen Goodman of TheLocal.de,

In a demonstration taking place in the German capital on September 11th, 2021, numerous campaign groups will take to the streets, among them the Berlin-based Expropriate Deutsche Wohnen & Co. campaign, the national Rent Freeze campaign and the Mannheim-based Action Alliance Against Desperation and Rent Madness.

 

People protesting for Deutsche Wohnen & Co. enteignen at a demo in Berlin on August 21st.

They are demanding a national rent freeze for the next six years to halt rising rents, along with a focus on building more affordable homes and the transfer of property from private landlords into state hands.

“With this rents demonstration, we’re protesting against the massive, persistent pressure that renters are facing in the whole of Germany,” campaigners said in a statement announcing the upcoming protest.

“Whether it’s Frankfurt, Dresden, Munich, Leipzig, Berlin, Hamburg or Cologne, rents are incessantly rising or have already reached unreasonable levels – und not just in the big cities.

“In many places, the availability of affordable living space has sunk dramatically for those entering a new housing contract. Homelessness is rising further and with it, the number of people who live on the streets without any shelter at all.”

Sharp rise in rents

Of all the cities in Germany, Berlin has by far the fastest rising rents: a recent study by housing portal Immowelt found that asking rents in the capital have soared by more than 40 percent over the past five years alone. However, the same study also found that middle-sized German cities like Heidelberg and Kaiserslautern were experiencing significant rent hikes over the same period, while the country’s priciest cities like Munich and Stuttgart continued to see rents go up – though not quite as steeply as in previous years.

 

Not just Berlin: Medium-sized cities such as Heidelberg have seen steep rises in rents over the past half a decade. Photo: picture alliance/dpa

As Germany prepares to head to the polls on September 26th in both the federal and a number of state elections, the campaign is aiming to step up pressure on the next government to embark on a “radical change of course” in the country’s housing policy.

In Berlin, people with German citizenship will also be given a vote in a referendum on whether the state government should buy out thousands of flats owned by for-profit landlords with 3,000 or more properties – including Vonovia and Deutsche Wohnen – in order to better control rents and living standards.

“On September 26th, Berliners have a unique, historical chance to stand up against the selling off of our cities,” Rouzbeh Tehari, spokesman for the Expropriate Deutsche Wohnen & Co. campaign, told The Local.

“The referendum to nationalise large property firms offers the opportunity to remove hundreds of thousands of apartments from capitalist speculation and manage them as social housing.”

Even if the referendum passes, however, the campaign expects to face a fierce battle with the newly elected Berlin Senate to see the policy put into law.

“We won’t stop after the vote,” Tehari explained. “We know we’re facing strong opposition and it will be difficult to get it implemented.”

Either way, the success of the campaign – which managed to collect well over the 170,000 petition signatures needed to call a referendum – will have sent a strong message to the venture capitalists that speculating on Berlin housing is a “high risk” strategy, he said.  

A national rent cap?

The national Rent Freeze campaign, one of the key activist groups involved in Saturday’s demo, is calling for a new six-year rental cap – but says it must be done on a national level. Earlier this year, attempts to impose a six-year rent freeze in Munich and Berlin were both rejected by Germany’s Constitutional Court on the basis that such as move couldn’t be done on a state or regional level.

In the case of Berlin, the rent cap had been in place since 2018, but was removed after the court found the law to be unconstitutional.

At the time, renters were dealt a double blow as the court ruled that landlords also had the right to reclaim back-dated rent for the entire duration of the cap – leading some tenants to be presented with bills amounting to thousands of euros.  But the national Rent Freeze campaign, which started in Bavaria, has now amassed support from around 140 other organisations and activist groups, and is gaining momentum ahead of the elections.

“Many tenants are desperate,” said Matthias Weinzierl of the Rent Freeze campaign. “They’re legitimately afraid of losing their homes because rents continue to rise and Covid-19 hasn’t changed a thing. “That’s why we’re calling for a national six-year rent freeze now, which must be brought in directly after the new government has been elected. Such a rent freeze would be an acute help for tenants – and it’s also urgently needed.”

‘Existential threat’

The date of the demo is the national Day of the Homeless, and was selected to highlight what campaigners see as the real threat of the housing crisis.

“In many places, high rents are becoming a genuine poverty risk and loss of housing is becoming an existential threat,” said Ulrich Schneider, CEO of the Parity Welfare Association, which is also supporting the demo.

 

People sleeping rough in Berlin in February 2021. Campaigners believe the housing crisis and homelessness are closely linked. Photo: picture alliance/dpa | Kay Nietfeld

“It’s completely unreasonable to force single parents, people with disabilities or those in need of care, for example, to give up their homes and lose their entire social environment.” 

The protest on Saturday has also received support from the National Working Group for Help for the Homeless (BAGWH), who have linked unaffordable rents to a rise in the number of employed people losing their homes.  In one recent study, BAGWH found that 15 percent of people classified as ‘homeless’ are currently employed – suggesting that rents in Germany are now outstripping wages, especially for lower earners. Commenting on the findings, Werena Rosenke, CEO of BAGWH, said that the figures were “proof of the precarious living conditions in which many people find themselves in this country and the trends that are emerging in our society”. 

Any new government elected after September 26th must face this issue head on, she added.

 

end 

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

AFGHANISTAN///TALIBAN//USA

The Taliban allows the evacuation of 200 Americans and other foreigners.

(zerohedge)

Taliban Allows Evacuation Of 200 Americans And Other Foreigners

 
THURSDAY, SEP 09, 2021 – 07:20 AM

After more than a week of suspense where the only thing keeping Americans remaining in Afghanistan safe was the Taliban’s promise not to harm them, it looks like the Talibs have made good – at least so far as Americans are concerned. According to Al Jazeera and a flurry of other media reports, Afghanistan’s Taliban authorities are allowing some 200 Americans and other foreign citizens to leave the country on a flight to Qatar scheduled for Thursday afternoon (local time).

International travel resumed in Kabul when Qatar Airways Boeing 777 arrived Thursday afternoon, marking the resumption of international passenger operations at the Afghan capital’s Hamid Karzai International Airport. Guarded by a squad of Qatari special forces, it was expected to depart later in the day.

Qatari officials speaking to WSJ insisted it wasn’t an evacuation mission since all of those departing had foreign passports and permission from the Taliban to fly. Qatar even facilitated the passengers’ transportation to the airport with a parade of minibuses. Most of these foreign citizens hold dual citizenship and are still considered Afghans. But they’re far more fortunate than the tens of thousands of Afghans who remain in the country despite helping the American war effort.

During a Tuesday press briefing where they announced the new government, the Taliban said international travel would soon be revived. But he added that only those with lawful permission should leave (since the Taliban are working to stave off a brain drain.

“When Afghans and foreigners want to leave Afghanistan, they should do it lawfully, having a passport and visa,” a Taliban spokesman said.

One reason for the delay is the fact that American forces disabled the radar and other key equipment at Hamid Karzai International Airport on their way out the door. But Qatar sent technicians to fix the equipment and domestic flights to Khandahar, Herat and Mazar-e-Sharifn soon resumed.

The big question now is, with international flights open once again, how with the Taliban prevent the feared ‘brain drain’ they worry will sap the country of skilled workers needed to make it run. Taliban leaders were “furious with the evacuation of skilled and educated people, who are greatly needed to rebuild the country,” according to an internal UN readout from a recent meeting.

Put another way: if they don’t have dual citizenship, many Afghans should probably get used to the idea of staying in the country.

END

Taliban Allows First International Flight To Leave Kabul With 200 Westerners, Including Americans, On Board

 
THURSDAY, SEP 09, 2021 – 03:12 PM

Ten days after the US and Western countries concluded their chaotic evacuation from Kabul international airport, the previously severely damaged airport is now said to be “fully up and running” – according to a Qatari official who assisted the Taliban in getting it operational again. 

Qatari and Turkish technical teams have been assisting the Taliban in getting commercial flights going again, with Qatar’s special envoy to Afghanistan, Mutlaq al-Qahtani, announcing the airport is “about 90 per cent ready for operations but its reopening is planned gradually.”

A Qatar Airways plane had touched down at the airport earlier on Thursday carrying humanitarian aid inbound, while it later departed for Doha carrying passengers, “including a large group of foreigners on board,” according to Al Jazeera. It marks the first passenger flight departure since the US withdrew on August 30, taking the last American troops out of the twenty-year long war. 

First international flight out of Kabul airport, via AFP/Getty Images

Crucially, it sets up the ability to fly between 100 and 150 Westerners out from Kabul “in the coming hours” after the Taliban gave permission. This will include a group of Americans who have been seeking to leave the country, Al Jazeera reports. Other reports suggested as many as 200 mostly Westerners have been authorized to leave Thursday.

CNN observed that:

A US official and a source with knowledge of the matter had earlier said the Taliban had cleared around 200 people, including American citizens, to fly out.

Live pictures showed people boarding the flight on Thursday afternoon Kabul time; earlier, Qatari and Taliban officials were seen touring the airport tarmac, where the Qatar Airways Boeing 777 stood.

Qatari special envoy Qahtani said, “This is a historic day in the history of Afghanistan as Kabul airport is fully operational. We have been faced by huge challenges … but we can now say that the airport is fit for navigation.”

Taliban spokesman Zabihullah Mujahid issued a statement of appreciation to Qatar, saying, “In the very near future, the airport will be ready for all sorts of flights including commercial flights.” He issued the words while standing beside the Qatari delegation on the airport tarmac. 

As The Daily Caller reports, former White House press secretary Kayleigh McEnany responded to Taliban-grounded flights in Afghanistan, saying the U.S. is “at the mercy of terrorists.”

“We have left Americans behind. That is a hard, cold fact. Another fact is that we are at the mercy of terrorists right now. We are at the mercy of the Taliban. They are dictating terms,” McEnany said.

McEnany criticized the Secretary of State Antony Blinken for saying the Taliban are not letting Americans leave.

“It’s a stunning admission as to where we are.”

Days ago Kabul’s airport saw its first domestic flights depart, albeit without the use of radar or navigation systems. This served at the time to make “international civilian flights more difficult to resume” – as The Hill highlighted.

Given Thursday’s declaration that the airport has resumed international air traffic, radar and navigation systems have now presumably come back online. 

end

AFGHANISTAN/REFUGEES/PAKISTAN//IRAN

These three countries are bolstering their border security to halt Afghan refugee waves

(zerohedge)

Turkey, Iran & Pakistan Rapidly Bolster Border Security To Halt Afghan Refugee Wave

 
THURSDAY, SEP 09, 2021 – 02:45 AM

Regional countries near Afghanistan are busy bolstering their border security and sending troops to halt an expected explosion of Afghan refugees across their territories seeking to escape new Taliban rule. 

Turkey, for example, is rapidly expanding its three meter high wall it began constructing in 2017 along its over 330-mile long border with Iran, including adding razor wires, ditches, and thermal cameras along with additional troop presence. This after President Recep Tayyip Erdogan assessed last month as US troops were on their way out of Kabul that Turkey is “facing an increasingly intensifying Afghan migration wave coming via Iran.”

 

Border wall in Turkey, file image.

Nikkei reports that by all indicators, regional governments are doing everything possible to keep the Afghan waves out: “Governments from Islamabad to Ankara and Tehran have bolstered border restrictions in anticipation of hundreds of thousands of people fleeing the new regime in Kabul,” the report says

Historically, fleeing Afghans’ first stop en route to the West has been neighboring Iran, which shares a 570+ mile border with Afghanistan; however, the typically porous border was closed to all Afghans starting Aug.18 as it was clear the security situation inside the war-torn country was unraveling amid the US exit. Further some Iranian newspapers have reported that Iranian authorities are actively sending Afghans back to their country.

And further, “Pakistan’s army claims to have sealed all irregular crossings from Afghanistan, though domestic media have reported increased human trafficking across the border,” Nikkei writes. “Reluctance or refusal to allow in large numbers of refugees is widespread. In some cases — Turkey again a prime example — allowing such an inflow can create a serious domestic political backlash.”

Turkey is expected to feel the shock first of the beginning refugee wave coming out of Afghanistan, given it’s already long been for years a jumping-off point for Afghans making the arduous trip to Europe. The past decade alone has seen some 600,000 Afghans settle in Turkey – all the while a mass wave of Syrian refugees exited there as well, many which are still along Turkey’s southern border (over 3 million).

 

Via Nikkei

Nikkei also documents some offers from other regional countries to accept a meager number of refugees, unlikely to blunt the problem given the millions that are looking to get out:

Some countries in the region with interests in Afghanistan have offered limited, and short-term, help. The United Arab Emirates has agreed to temporarily host 5,000 evacuated nationals who will go to third countries, following a request from the U.S. The UAE, along with Qatar and Saudi Arabia, have called for peace and political stability in Afghanistan.

Another country that’s been involved in rebuilding Afghanistan over the past two decades is India, which hosts more than 15,000 Afghan refugees from long ago. As of March 2021, a total of 41,315 refugees and asylum-seekers were registered with the UNHCR India, with Afghans making up the second-largest subgroup, at 37%, behind those from Myanmar, at 54%.

All of this serves to highlight that the current climate of proclamations of international sympathy and support for the plight of Afghans is not resulting in any level of changed policies at borders on the ground, but is just stopping at mere rhetoric. 

end

IRAN/USA/ISRAEL

Bird Brain Blinken says the uSA is getting closer to giving up on Iran nuclear deal. The let’s see what Biden does?

(zerohedge)

Blinken Says US Getting ‘Closer’ To Giving Up On Iran Nuclear Deal

 
WEDNESDAY, SEP 08, 2021 – 06:25 PM

US Secretary of State Antony Blinken has warned Iran that Washington is getting ‘closer’ to giving up on hopes of returning to the restoration of the JCPOA nuclear deal. 

This after the International Atomic Energy Agency (IAEA) issued two confidential reports Tuesday which charged Iranian officials with blocking access to sites, all the while allegedly expanding its nuclear activity. The IAEA said its inspection efforts are being “seriously undermined”.

 

Source: AFP

The Vienna talks have been on hold since June 20th, after they had been temporarily suspended reportedly by the Iranian side pending the entry into office of the newly elected president, Ebrahim Raisi.

Blinken spoke to reporters while in Germany meeting with his German counterpart Heiko Mass: “I’m not going to put a date on it but we are getting closer to the point at which a strict return to compliance with the JCPOA does not reproduce the benefits that that agreement achieved,” after he was specifically asked about stalled negotiations and the point of no return. 

Foreign Minister Heiko Maas condemned Iran’s delay as “far too long” and said he had urged Iran’s foreign ministry to demand that Iran “return more swiftly to the negotiating table,” according to AFP.

Sensing the frustration of the West, on Monday Iranian Foreign Ministry spokesman Saeed Khatibzadeh attempted to lay all doubts to rest: “We will definitely continue the negotiations,” Khatibzadeh said according to state media. 

However, the Iranians have so far refused to set a date for the resumption of the next round of talks in Vienna. This is leading to suspicions that the new administration in Tehran is intentionally stalling as long as possible while covertly expanding its nuclear capabilities, as The Wall Street Journal explains:

European and U.S. officials have said the period for reviving the nuclear deal isn’t open-endedThey are concerned that with Iran expanding its nuclear activities and knowledge, it may soon be impossible to recreate a centerpiece of the 2015 deal, keeping Iran at least one year from being able to accumulate enough weapons-grade enriched uranium for one weapon.

Meanwhile the IAEA is still accusing the Islamic Republic of “stonewalling”. 

Tehran has consistently blamed the US for refusing to immediately provide sanctions relief, which the Iranians say is the reason for the collapse of the deal – after Trump initially took the US out of the deal in May 2018. 

end

6.Global Issues

CORONAVIRUS UPDATE

USA

What on earth will Biden do next as he signals new measures coming for people who are unvaccinated. They do not understand the science and it will not be good whatever they are planning

(Phillips)

White House Signals New COVID-19 Measures Coming For People Who Are Unvaccinated

 
WEDNESDAY, SEP 08, 2021 – 09:00 PM

Authored by Jack Phillips via The Epoch Times,

Ahead of President Joe Biden’s announcement Thursday about new COVID-19 measures, White House press secretary Jen Psaki said that there may be new measures that will be imposed on unvaccinated people.

“There are six steps the president’s announcing, there will be new components,” Psaki told reporters on Wednesday.

“Some of that will be related to access to testing, some will be related to mandates, some will be related to how we ensure kids will be protected in schools.”

When asked about how the new steps would impact Americans’ lives, Psaki said that “it depends on if you’re vaccinated or not.”

Psaki provided few details on what mandates could be imposed on unvaccinated Americans.

On Tuesday, she told reporters on Air Force One that the federal government lacks the authority to mandate vaccines for everyone.

“There will be new components that sure, will of course impact people across the country, but we’re also all working together to get the virus under control, to return to our normal lives,” Psaki also said, without elaborating, on Wednesday.

Biden, who was scheduled to meet with his COVID-19 advisers on Wednesday, delivered a speech about six months ago saying the United States has “made real progress” against the virus.

Since that date, about 142 million Americans have received COVID-19 vaccines and about 950,000 people are getting vaccinated each day, according to data provided by the Centers for Disease Control and Prevention (CDC).

Data released daily by the CDC’s COVID-19 tracker suggests that the United States’ new cases and deaths may have hit a plateau or is on the decline. The seven day-average for cases as of Tuesday was 140,000 and deaths were 1,022, respectively, while as of Sept. 1, the seven-day average for cases was 156,000 and deaths were 1,141, respectively.

The president’s speech on Thursday could make reference to a recent announcement from the heads of several federal health agencies that third doses of the Moderna and Pfizer vaccines, or booster shots, would be provided around Sept. 20. However, the Food and Drug Administration has yet to approve the booster doses.

Already, Biden required all federal employees and contractors to get the COVID-19 vaccine or adhere to strict testing and social distancing protocols. He also ordered nursing homes to require their staff to get the vaccine to continue getting Medicare and Medicaid funding.

One of Biden’s top confidants, White House chief of staff Ron Klain, during a CNN interview over the weekend, was reluctant to provide a specific date when the boosters would be made available to the public.

and

Here is Biden’s announcement. Biden is forcing all Federal employees, public workers and contractors to get vaccinated or get fired.  You will see massive protests on this similar to what we have witnessed in France and Germany.  Truckers will block all exits and stop deliveries on all goods.  The police forces are totally against the vaccine. Portland will exempt their police force from taking the vaccine. This is a significant escalation in this battle as they refuse to study the science.  It is the vaccinated that will be in trouble as blood clots continue to circulate throughout their bodies. This is why the Red Cross will not take blood from a vaccinated person

(zerohedge)

Biden To Eliminate ‘Testing Opt-Out’; Requires All Public Workers And Contractors To Get Vaccinated Or Get Fired

 
THURSDAY, SEP 09, 2021 – 09:31 AM

As resistance to President Biden’s booster-shot push grows, it appears the administration is – just as we expected – upping the pressure on federal workers who haven’t yet been vaccinated – while asking private businesses to do the same. According to CNN, the Biden Admin will no longer allow workers to get tested weekly instead of taking the vaccine. Instead, he’s signing an executive order Thursday requiring all workers to get the vaccine or face indefinite suspension.

What’s more, Biden’s order will extend to employees of government contractors. Per CNN, the same standard will be extended to employees of contractors who do business with the federal government. The Department of Defense, the Department of Veterans Affairs, Indian Health Service and National Institute of Health will also complete their previously announced vaccination requirements, which the White House believes has covered 2.5MM people.

This marks a significant escalation since earlier in the summer, when Biden unveiled a requirement that federal workers be vaccinated, but allowed for those who opted out to be subject to stringent mitigation measures like weekly tests.

But mostly the White House is relying on private industry to impose and enforce its vaccine requirements. But Biden also believes the White House has a responsibility to set an example.

We have one quick question though… What will the unions do?

They have already pushed back (herehere, and here) against various mandates (and Dem leadership need all the support they can get as Biden’s approval plummets).

And then there is Portland, whose city officials are preparing to exempt the police force from the “now legally dubious” vaccine mandates.

The president also plans to announce a major expansion to free testing, a step public health officials have said would be critical to containing the virus, particularly as children return to school and more workers return to the office. Plus, it would, in theory, combat claims that the administration didn’t make the vaccine “accessible” enough.

Thursday will impose more stringent vaccine rules on federal workers, and take steps to encourage private businesses to do the same, during a major speech meant to lay out a new approach to combating the coronavirus.

Biden will talk about all this and more tonight, when he unveils his plans to stop the delta variant.

end

First they stop Ivermectin and now a Texas doctor warns Florida and others that the Feds may ration monoclonal antibodies which works quite well if the virus gets into your lungs

Falkenstern//EpochTimes

Texas Doctor Warns Florida and Others: Feds May Ration Monoclonal Antibodies

 
THURSDAY, SEP 09, 2021 – 09:52 AM

Authored by Jannis Falkenstern via The Epoch Times,

News of monoclonal antibody therapy is spreading as fast as the COVID-19 virus in Florida, but one Texas physician warns of the federal government’s plans to “ration” the treatment, especially in states with low vaccination rates.

On Tuesday, Florida Governor Ron DeSantis opened up another infusion center in St. Cloud, making it the 23rd site for the stateMore than 63,000 doses of the treatment have been given to Floridians so far.

However, a new ordering protocol from the Department of Health and Human Services has one Texas doctor wondering why the federal government would want to ration treatments.

Jim Jackson, a Houston urgent care specialist, recently took to Twitter to voice concerns about the federal government’s interference in ordering Regeneron, the manufacturer of the monoclonal antibodies. Jackson orders his supply through Amerisource, a third-party affiliate for Regeneron. He was surprised to find out that he had to provide the company with other information besides ordering the product.

“This is what happens when government gets involved in things. Before I just told Amerisource how many doses I wanted and they sent them,” Jackson told The Epoch Times.

“Now I have to inventory my entire supply room to count masks and gloves.”

Creating Red Tape

Jackson said he has noticed since the Florida governor has gotten a lot of media attention for his state-sponsored sites, the federal government has stepped in and created a lot of “red tape” where there wasn’t any before. Last week, the doctor took to Twitter and vented his frustration.

“So now the government is getting involved in monoclonal antibody distribution,” Jackson said in a Twitter feed.

“Before I could just order as much as we needed and they shipped it next day air. Now a government commission will decide when, if, and how much I will be able to get for my patients.”

The Department of Health and Human Services website updated their COVID-19 Monoclonal Antibody (mAb) ordering process on Sept. 3.

The statement indicated the department had received a “surge in the utilization of monoclonal antibody drugs” and implemented changes to “help promote optimal and equitable use of the available supply.”

The use of the word “equitable” was what disturbed Jackson.

“This word suggests to me that they’re [federal government] trying to manipulate distribution of who they think should get this,” Jackson said.

“I think they will divert doses from under-vaccinated states like Texas and Florida.”

HHS, under the new ordering process, limits immediate orders and will only ship to administration sites with HHSProtect accounts and current utilization reporting. In addition, HHS will review all orders for alignment with utilization, currently estimated at 70 percent of orders. Although the department says that the measures are temporary and it will continue to “monitor product utilization rates, variant prevalence and overall availability of mAb” to determine when they would return to the “original ordering process.”

Jackson placed an order on Monday and said the site was not “user friendly” and he worries that health clinics like his will simply “give up” because of the lengthy process it takes to order the product.

“It took me almost two hours to navigate the form,” Jackson said. “It is very complex and I almost gave up.”

Jackson said that he hopes this doesn’t deter other physicians from getting the treatments for patients who need them and said that the form was “data driven.”

“I think the form was geared more toward hospitals because of the questions they were asking,” he said.

“They’re after data, I get that, but the length of the form was complex and I had to inventory my supply room just to answer the questions. They wanted to know how many hospital beds I had.  I’m a doctor’s office, not a hospital.”

Forty-eight treatments were ordered by Jackson on Monday, and he said that normally Amerisource sends them next day air, but he wonders what if the new form required by the government will slow down the process and delay treatment for his patients.

‘Ahead of the Curve’

Jackson gave praise to the Florida governor and said that because of his efforts, it put Florida “ahead of the curve.”

“Texans still don’t know about it (monoclonal antibodies),” he said.

“It has not been widely reported; this is a lifesaving treatment.”

“Today I estimate that for every 10 patients, nine of them were either positive for COVID or were worried they had the virus,” he said.

“Most of patients—more than half—has never heard of the monoclonals.”

Currently, Florida is utilizing the Regeneron monoclonal antibodies treatment. Regeneron’s treatment, called REGN-COV2, is a combination of two types of monoclonal antibodies. Monoclonal antibodies work by targeting the coronavirus spike protein, blocking the virus from entering your body’s cells, and stopping the infection from spreading, according to the Health and Human Services website.

Since August, DeSantis has been introducing Regeneron infusion centers for COVID-positive patients to seek treatment. On Tuesday, DeSantis opened up another monoclonal antibodies site he had targeted as a need area. More are scheduled to be opened this week. The governor said as time goes on, the sites will need to be “adjusted as the need for the treatments” increases or subsides.

“The state of Florida is working to ensure all the monoclonal antibody treatment sites have adequate supply to meet the needs of our communities,” said Christina Pushaw, DeSantis’s press secretary.

“At this time, the sites do have sufficient supply, and DOH will continue monitoring this closely.”

Regeneron’s Effectiveness

In January 2021 under Operation Warp Speed, an agreement between Regeneron and the U.S. government was reached in which 1.25 million additional doses of monoclonal antibodies cocktail were purchased, bringing the total supply to 1.5 million to be delivered by June 30, 2021.

The treatments, that the federal government pays for and makes free to patients, have been shown to sharply reduce hospitalizations and deaths when given to patients within a 10-day window of experiencing symptoms, via intravenous infusion or injections. That’s the timeframe in which they have been shown to cut rates of hospitalization and death by roughly 70 percent, according to DeSantis, who says he has “heavily researched and read data” on the virus and treatment options.

Currently, the governor reports that the hospital admission rates have decreased, indicating that vaccinations coupled with the monoclonal treatments have played a part in this reduction.

“COVID is not going away,” DeSantis said at the press conference.

“We just have to learn how to live with it; we are still dealing with the 1918 flu, so I know this will hang on as well.”

Tammy Allen, spokesperson for Regeneron, said she has seen a demand from not only Florida, but other states as well.

“We have seen an increase in demand in recent weeks,” she said in a written statement to The Epoch Times.

“They are largely located in the Southeast—Florida, Texas, Louisiana, Mississippi, and Alabama.”

Allen did not have the data on how many doses were distributed to each state, but said the product that has been distributed has a “shelf life and expiration date of 2023.”

At Tuesday’s press conference, the Florida governor promoted the vaccine but said it could take as long as six weeks to provide full protection.

“The antibody treatments can be given to patients who are already sick, with a more immediate effect,” DeSantis said.

The federal government has been distributing monoclonal antibody drugs to the states since last winter, but the treatments were underused due to a lack of awareness from physicians, low interest among the public, and the logistics of setting up areas to give them to patients via IV infusion. But DeSantis had different ideas and launched a monoclonal pilot program in Jacksonville. Because of its popularity and success rate, more sites were opened and now the governor and his team are marching closer to 32 site goals.

CANADA/QUEBEC

Quebec, which has jurisdiction on healthcare orders all health care workers to get vaccinated or be suspended without pay

(zerohedge)

Quebec Orders All Health-Care Workers To Get Vaccinated Or Be Suspended Without Pay

 
WEDNESDAY, SEP 08, 2021 – 08:40 PM

The province of Quebec has become the latest local government (and the first in Canada) to decree that all nurses working in the province will need to get vaccinated by Oct. 15, or they will be suspended without pay, according to the province’s health minister, Christian Dubé, who made the announcement on Tuesday.

The decision isn’t exactly a surprise. Dubé and Quebec Premier François Legault have said in recent weeks that they intended to make vaccination mandatory for health-care workers, but they didn’t specify a deadline or consequences for workers who didn’t follow the mandate until Tuesday, when Dubé made the announcement during a provincial update.

For weeks, such events have been led by Dubé, accompanied by Public Health Director Dr. Horacio Arruda. But given the gravity of the announcement, Legault returned to lead the news conference himself for the first time in weeks.

Legault noted the number of hospitalizations in the province had climbed to 171 from 55 a month ago. And when asked which workers will be affected by the mandate, Dubé responded: “Everybody … 100 per cent of employees.”

Vaccine passports will also be required for visitors to hospitals, he added.

It’s not just nurses who will be affected: doctors, midwives, professionals in private clinics and volunteers will all need to be vaccinated before entering a hospital.

With COVID cases rising once again in the province, Legault said Tuesday that Quebec would need to reorganize its hospital system: “For a while, we’re going to have to accept a certain amount of risk. We don’t want another lockdown, so we’re going to have to accept that there will be hospitalizations for COVID-19 for a while.” “We are going to have to reorganize the health-care system.”

One strategy is they are trying to convince people who have left the profession to return.

Others criticized the policy, saying they’re not sure it’s the right call.

Jeff Begley, head of the federation of health and social services union, said he wasn’t surprised by the government’s announcement, but he wasn’t sure they had made the best decision.

“We’re not sure that it’s the best means going forward,” he said.

Begley explained that most hospitals have eliminated their “hot” sections for COVID patients (since most people are vaccinated now). Begley believes this may have been a mistake, and that COVID patients must be quarantined in hospitals to avoid infecting others.

As of Tuesday, 87% of Quebecers have had at least one dose of the vaccine. Legault pleaded with those watching to try and convince at least one person who hasn’t been vaccinated to get the jab.

Still, if the province is trying to improve its ability to deal with the pandemic, suspending nurses and doctors from their jobs without pay doesn’t seem like the best way to go.

END

SWEDEN/COVID

Sweden announces it will remove most remaining COVID 19 restrictions

(Philips/Epoch Times)

Sweden Announces It Will Remove Most Remaining COVID-19 Restrictions

 
THURSDAY, SEP 09, 2021 – 03:30 AM

By Jack Phillips of Epoch Times

Sweden announced it will remove most of its remaining COVID-19 restrictions starting this month, according to a news release on Tuesday.

An announcement from the Swedish government said that restrictions on public venues such as restaurants, theaters, and stadiums will be removed on Sept. 29.

As most adults are vaccinated, Sweden has started to ease some restrictions during a summer lull in the pandemic. Deaths from COVID-19, the disease caused by the CCP (Chinese Communist Party) virus, have remained low in the country in recent weeks.

Vaccine passports, which are being rolled out in several U.S. cities, France, Italy, Switzerland, Israel, and in other areas, might be mandated in the future for “major public gatherings,” according to the government. Exceptions will be made for children below the age of 16 and for individuals who should not be vaccinated for medical reasons.

“The proposal means that any participation restrictions that may be needed for public gatherings and public events with 15,000 or more participants should not apply if the system of vaccination certificates is used,” said the statement. “This means that the organizer shall not be obliged to limit the number of participants in premises and delimited areas or spaces that the organizer has at its disposal if there are restrictions regarding this.”

Recommendations on “working from home will be removed and a gradual return to the workplace can begin,” the government said. “Those who have symptoms should continue to stay at home and test themselves, and employers should then facilitate homework.”

A few days before, the government announced it would bar travelers from Israel, which has one of the highest COVID-19 vaccination rates in the world, from entering Sweden due to a surge in cases in the country. Sweden also banned the entry of citizens from the United States, Kosovo, Lebanon, Montenegro, and North Macedonia.

According to a news release from the Swedish government, the travel ban affecting Israel, the United States, and the other countries was implemented on Sept. 6.

The sharp increases in virus infections are the reason why Israel and the other countries were removed from the travel ban exemption, said Interior Minister Mikael Damberg.

Even though Israel is one of the most vaccinated countries against COVID-19, cases have persistently risen. The small nation’s seven-day average for COVID-19 infections on Monday was over 1,000 per one million people, which is double the rate of numbers seen in the United States and the United Kingdom, says Oxford University’s Our World in Data.

Last month, officials in Israel said that around 60 percent of hospitalized COVID-19 patients in a recent outbreak are fully vaccinated. The most commonly used vaccine in Israel is the two-shot one made by Pfizer-BioNTech, which uses mRNA technology

end

From Robert to us:

Australia will go into free fall

 
 
 

ALL COMMUTER FLIGHTS IN AUSTRALIA GROUNDED

The Australian government has done the ultimate siege. No travel allowed. Quarantine in place. Get the jab or you cannot work. You cannot receive at least foreign mail. There are ZERO commuter flights over Australia at this time with a few military flights and a few courier flights. It is perfectly clear the Australian government has issued an ultimatum: Get double jabbed, or get genocided.

It is SO BAD that Americans trapped in Australia cannot even go to the embassy and even if they could, even the embassy cannot arrange a way for Americans to fly out.

USPS and other mail carriers are no longer delivering to Australia. Anything addressed to Australia is being sent back “return to sender”. 

The question is what will the Truckers do? And whatever happens Australia has fallen. God help us elsewhere, because if they succeed this agenda will augmented elsewhere. All we can do now is pray for the people of Australia.

END

Can vaccines be imposed on us

from Milan to us;

 
 
 

Hal Turner Radio Show – Indian Bar Association sues WHO scientist over Ivermectin; Says Ordering Withdrawal of Medicine KILLED People!

The Dishonesty Behind the Headlines – Politicians You Just Cannot Trust | Armstrong Economics

 
 
 
 
Writing by Armstrong worth reading, as even the Toronto Sun writes Trudeau  muzzled scientists from telling Canadians the truth. Mind you i thought he lost all credibility with the “We” charity scandal.
This morning i had a conversation with a General Manager i know of a major cemetery in Toronto, who is retiring early. Apparently deaths are up and during last winter for 3 months they were cremating 7 days a week 12 hour days and are still trying to catch up on ceremonies and burials. Apparently the stress and complaints and demands are so bad they decided to pack it in.
While it is hard to know how all this affects those around us, we need to ensure that we demand truth over lies and actions based on fact and not agenda.

 

https://www.armstrongeconomics.com/international-news/rule-of-law/the-dishonesty-behind-the-headlines-politicians-you-just-cannot-trust/

Cheers
Robert

 
GLOBAL  ISSUES/MEXICO
 

end

Michael Every on the days most important topics

Michael Every..

Rabobank: What Is Coming Is A Bigger Economic, Market, And Geopolitical Earthquake Than QE Tapering

 
THURSDAY, SEP 09, 2021 – 12:10 PM

By Michael Every of Rabobank

Where’s the beef? (And pork and chicken?)

Yesterday US stocks had the temerity to go down. Not a lot: S&P -0.13%, Dow -0.2%– but red, not green. It’s apparently headline news. More significantly, markets are worrying the all-time high in stocks might not last for all time. The chatter / whisper is of a possible correction which, to be fair, it has been for a long time as stocks have kept levitating regardless. Meanwhile, as Treasury yields dropped to reverse the previous day’s climb, 3-month USD LIBOR is still only just above the lowest level this year at 0.11% vs 0.24% at the start.

For markets, where is the beef? The LIBOR trend is nothing new, and reflects excess liquidity via QE, as already evident in reverse repo action, etc. On stocks, the issue is again QE: when does the music stop? On that front, the analogy of musical chairs is a good one. (As it is for the potential Fed Chairs, Powell and Brainard, too.)

Vis-à-vis QE, the Fed’s Beige Book was long “shortages”. “The US economy strengthened further from late May to early July, displaying moderate to robust growth,” beiged the book, an upgrade from “moderate” in the spring. However, “Supply-side disruptions became more widespread, including shortages of materials and labor, delivery delays, and low inventories of many consumer goods”; that as global shippers underline supply chain snarls will last well into 2022 at least. Indeed, as the ‘force majeure’ news in fertilizer production this week made clear further hefty US food-price increases can be expected well into 2022 too, the National Economic Council’s Deese was rolled out to explain that if you exclude beef, pork, and poultry, price increases “are more in line with historical norms. (No hedonic adjustment to chickpeas to solve the CPI problem?)

More directly worrying for markets was the New York Fed’s Williams saying that “it could be appropriate” for the Fed to start tapering this year, with Kaplan adding the announcement could come as soon as the September 21-22 FOMC meeting for an October start. More beef was that Williams said “right now, asset valuations are very high. Was it a boast or a problem? Perhaps if the QE timetable is as suggested, that won’t be an issue for much longer.

Then again, as is repeated often here, are the Fed really going to taper if the fiscal picture is unclear? On which, the question is not “where’s the beef?” but “where’s the pork?” And the latest news there is “stuck in a supply-chain snarl”. Indeed, Senator Manchin, for one, has made clear only $1.0-1.5 trillion of the $3.5 trillion stimulus proposed is acceptable to him, which shows just how far apart the Democrats are internally. But is this good news for stocks (and bonds) after a dip and the obligatory dip-buying referred to yesterday?

But back to beef, where the market is also fretting the ECB might take a hawkish turn today. Our ECBeebies believe the Bank will keep rates unchanged and the APP (“bond buying”, for those who don’t speak Euroacronym) steady at EUR 20bn/month, but with the target pace of PEPP purchases (“more buying”) to be slowed to EUR 60bn/month for Q4, and the PEPP envelope unchanged at EUR1,850bn. Any decisions regarding the 2022 policy mix will probably be postponed until December. Importantly, however, they also think the ECB will want to make clear that this is not the start of a taper or a signal that PEPP ends in March 2022. Let’s see if the ECB can make all things clear: the track record is not good – far more gristle than meat is often the case. Meanwhile, the latest German opinion polls suggest outgoing Chancellor Merkel’s CDU is slumping, and assembling a viable coalition after the upcoming election could be problematic. Then again, which major EU economy does have a strong functioning government at the moment? Which is why we all listen to the ECB so much.

And so to the next portion of animal protein: “where’s the chicken?” US Secretary of State Blinken is now stating that the US is getting ‘closer’ to giving up on Iran nuclear deal. So the US isn’t prepared to keep negotiating like Brian in ‘The Life of Brian’ forever(?): “How much, quick? It’s for the wife” “Oh, uh, 20 shekels.” “Right.” “What?” “There you are.” “Wait a minute!” “What?” “We’re supposed to haggle.” “No, no, no. I’ve got to get…” “What do you mean, no?” “I haven’t got time.” “Well, give it back, then!” “No, no. I just paid you!” “Burt, this bloke won’t haggle!” What comes next if the US-Iranian transaction does not end up with a nice gourd being thrown in?

On which, economic historian Adam Tooze argues in “The New Age of American Power” that some see the US debacle in Kabul marking the end of its global power projection: that as the AP reports “Taliban form all-male government of old guard members”, as if shocked this is what they meant by “diverse”, and whispers that the PLA is looking at Bagram airbase. However, Tooze posits the US is instead refocusing on Russia/China, and on two key areas it dominates: finance and tech, concluding: “They aim to secure US military dominance even as the centrifugal effect of global economic growth reduces America’s relative weight in the world economy. Ultra-advanced technology, not GDP, will be the decisive factor. As Washington torques the sinews of power, the entire world will feel the effect.” This comes on the back of increasingly bipartisan arguments for the adoption of US industrial policy, where one ambitious proposal is even a Factory Bill modelled after the Farm Bill that supports US agriculture and its supply chain.  

Moving in that direction — the US dollar as weapon, decoupling tech, and the US becoming a manufacturing power again to match its agricultural power — is more of a potential economic, market, and geopolitical earthquake than QE tapering. Dare the US act like that, given the impact? Post-Kabul, as hegemon, dare it not?

However, this is a longer term issue than QE or fiscal stimulus. For now, focus on the beef, or lack of beef, and the pork, or lack of pork. Just don’t forget the real game is actually chicken.

Meanwhile, very much related to this hypothetical discussion, Chinese inflation data today saw headline CPI up just 0.8% y/y, down 2 ticks from last month, while PPI was 9.5% y/y, 0.5ppts higher than expected and up from 9.0%. That is even more of a margin squeeze – and we now have to wait for the more detailed data breakdowns to be released so we can see what beef, pork, and chicken were doing. Mr Deese may want to take some notes.

end

7. OIL ISSUES

 

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////COVID/VACCINES

Draconian measures in Australia…they are now confiscating booze delivered to people forced into lockdowns.

(zerohedge)

Australia Is Now Confiscating Booze Delivered To People Forced Into Lockdown

 
WEDNESDAY, SEP 08, 2021 – 09:20 PM

In but the latest sign that Covid locked-down Australia has abandoned all pretenses of a democratic society and has effectively become a police state, Aussies are now having their booze confiscated in the name of ‘health monitoring’.

Apartment blocks subject to lockdown measures in New South Wales, which is home to Sydney and other large population centers, are reportedly being monitored by the government’s NSW Health agency. “Residents in apartment blocks locked-down by NSW Health are having their alcohol deliveries policed as part of a policy to limit the number of drinks being consumed each day,” according to https://news.com.au.

 

Image via AAP/The Guardian

Residents of one particular building have accused authorities of doing random searches of their private mail and care packages sent by family members and friends. “They are searching all bags and things coming into the building… They confiscated a series of gifts,” one resident of Mission Australia’s Common Ground building in Camperdown said. “So things like bottles of spirits, we weren’t allowed to have those and we still (aren’t).”

The complaints came after NSW Health took control of select apartment buildings ostensibly in order to monitor and limit the spread of the coronavirus, which means in some cases where infections have been found, all residents were forced into isolation. These buildings are deemed under strict lockdown and have a police presence around them, apparently even intercepting mail.

A statement in national media confirmed that health authorities are enforcing the following restrictions:

Residents are allowed to receive a ration of one of the following: six beers or pre-mixed drinks, one bottle of wine, or one 375ml bottle of spirits.

Excess alcohol is being confiscated until lockdown rules are lifted.

Throughout most of the pandemic pubs in large cities like Sydney have remained close, along with other public venues like gyms, hairdressers, and restaurants.

This fueled a rise in online alcohol sales and home deliveries. But apparently authorities are sweeping in to take this ‘option’ away too.

Australian health authorities are promising that pubs will once again soon open, but only after they implement a state vaccine passport app which will enable clients to be screened at the door over whether they’ve been double-jabbed yet. 

END

Australian health minister shocks Sydney with her “new world order” comment

(zerohedge)

Australian Health Official Shocks Sydney With “New World Order” Comment

 
THURSDAY, SEP 09, 2021 – 12:30 PM

Now that Sydney’s adult vaccination rate is finally nearing 70%, local officials have started to share plans for reopening the city’s economy, allowing patrons to return to bars, restaurants and gyms (in limited numbers, and with proof of vaccination). But they have also caused widespread concern by referring to a “new world order” in post-lockdown Australia.

New South Wales state Premier Gladys Berejiklian said during a media briefing in Sydney on Thursday that Sydney’s cafes, restaurants and pubs are set to reopen in the second half of October after months of strict COVID-19 lockdown.

In keeping with Australia’s modest shift away from the “COVID Zero” ideology, Berejiklian said leaders must “hold their nerve” as cases are almost guaranteed to rise after the reopening (though mostly continued to climb despite the lockdown, anyway). Some restrictions for the fully vaccinated will be lifted on Monday, as the first step toward reopening for businesses will arrive shortly afterward.

Despite its lockdown efforts, Australia has seen cases continue to climb in the two months since Sydney started what was supposed to be a temporary “snap” lockdown.

While this might seem like the light at the end of the tunnel, there’s a catch: Berejiklian said she expects cases to rise when restrictions ease, and warned that more “localized” lockdowns would follow.

“If there is a concentration of disease in any suburb.” Lockdown rules in several regions outside greater Sydney have been lifted from Saturday due to low case numbers out there.

Another NSW official triggered a backlash on Thursday when she referred to a “New World Order” that will be established after the lockdown conditions hsve been lifted. Dr. Kerry Chant, the Chief Health Officer of New South Wales made the remark while outlining new vaccine requirements for workers and customers when the city reopens.

Both parties at reopened businesses would have to be fully vaccinated against Covid-19, Dr. Chant announced, and workplaces would “have some system of checking that.” But it was her next comment that really stirred up a storm.

“We will be looking at what contact tracing looks like in the new world order,” she said.

The clip spread like wildfire on social media in Australia and the UK.

It definitely elicited a reaction.

Some users pointed out that this wasn’t the first time an NSW official had used the term during a COVID-related press conference. Minister for Health Brad Hazzard described the pandemic as a “new world order” in July 2020. “This is a world pandemic, it’s a one in a 100-year event, so you can expect that we will have transmission from time to time, and that’s just the way it is. We’ve got to accept that this is the new world order,” Hazzard said during a conference, following an outbreak of cases.

The ABC reported last month that Hazzard’s statements had sparked a wave of conspiracy theory videos on TikTok and other platforms. Sydney has been on continuous lockdown since June. And while Australians will be relieved to see some of their freedoms returned to them, in the post-COVID era, things will never be the same as they were – and new “localized lockdowns” can still be imposed at any time.

Not to worry, Twitter and YouTube are here to set conspiracy theorists straight about said thing that doesn’t exist.

67

NEW ZEALAND

New Zealand joins her neighbour Australia with draconian measures even though they have only a few

cases.  New Zealand is now a full blown police state

(Schachter/The Dossier)

 

“COVID Zero” New Zealand Has Completed Its Transformation Into A Full-Blown Police State

 
WEDNESDAY, SEP 08, 2021 – 11:00 PM

Authored by Jordan Schachtel via ‘The Dossier’ substack,

New Zealand, the last of the dedicated “COVID Zero” nations on earth, has completed its transformation into a full-blown tyrannical regime, and shockingly, it has come with the consent of the vast majority of Kiwis.

Once hailed as the media and “public health experts’” favorite COVID-19 managerial “success story,” the puff pieces have been increasingly hard to find, as Wellington has spawned a dystopian concoction of insane, despotic government edicts, claimed as an absolutely necessary part of their everlasting fight against a disease with a 99.8% recovery rate.

Just observe what has happened in the Five Eyes partner nation during this week alone:

1) Virtually the entire country is once again under an indefinite lockdown, after a few COVID-19 cases were reported throughout the nation.  A single case necessitates a “snap lockdown,” in which all rights of millions of citizens are immediately restricted and indefinitely subject to the containment of a seasonal respiratory disease. The current lockdown has been extended over Auckland until at least mid September, with many predicting a much lengthier sentence. According to past precedent, Kiwis will not receive their freedom back until — this is the truly insane part of Zero COVID — there is zero community spread of COVID-19.

And the second another case pops up on the radar, the entire country goes back to square one of the Zero COVID protocol.

2) A man is being shamed by his countrymen for having the audacity to “escape” from a government-sanctioned COVID internment camp. The camps have been described in a more positive, but false light by the press and government officials as “quarantine hotels,” but it is most certainly an internment facility, as leaving is not allowed, and it carries a fine and lengthy prison sentence.

The Hill reported: “The person was charged with failing to comply with New Zealand’s coronavirus health order. Under a new law passed last year, he could face a fine or up to six months in jail if convicted.”

3) The country’s police and military services are installing security checkpoints throughout New Zealand in an effort to make sure citizens are not traveling during the lockdown. Freely traveling during the lockdown now carries a massive fine and/or prison sentence as punishment.

New Zealand is now the only country in the world left that is dedicated to COVID Zero, the pursuit of the total elimination of a virus from their nation, which has been under a government-sanctioned self-siege since the beginning of 2020. All of the other nations that attempted to pursue the pseudoscience behind COVID Zero have failed in catastrophic fashion. New Zealand has transformed from a highly-touted COVID “success story” to a full-fledged house of horrors, and sadly, there is no end in sight to the ongoing madness.

END

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

Euro/USA 1.1830 UP .0012 /EUROPE BOURSES /ALL RED

USA/ YEN 109.84  DOWN  0.284 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3814  UP   0.0048  

 

USA/CAN 1.2691  UP .0002  (  CDN DOLLAR DOWN 2 BASIS PTS )

 

Early THURSDAY morning in Europe, the Euro IS UP BY 12 basis points, trading now ABOVE the important 1.08 level RISING to 1.1830 Last night Shanghai COMPOSITE CLOSED UP 17.94 PTS OR 0.49%

 

//Hang Sang CLOSED DOWN 604.93 PTS OR 2.30%

 

/AUSTRALIA CLOSED DOWN 1.90% // EUROPEAN BOURSES OPENED ALL RED 

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL RED  

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 604.93    PTS OR 2.30% 

 

/SHANGHAI CLOSED UP 17.94  PTS OR 0.49%

 

Australia BOURSE CLOSED DOWN  1.90%

Nikkei (Japan) CLOSED DON  173.00 pts or 0.57% 

 

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1799.60

silver:$24.20-

Early THURSDAY morning USA 10 year bond yr: 1.333% !!! DOWN 1 IN POINTS from WEDNESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.949 DOWN 2  IN BASIS POINTS from TUESDAY night.

USA dollar index early THURSDAY morning: 92.58 DOWN 7  CENT(S) from WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

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And now your closing  THURSDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.20%  DOWN 6  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.040% DOWN 6/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.31%//  DOWN 6  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.67  DOWN 9   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 –.360% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.03% AND NOW ABOVE   THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR  THURSDAY

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

Euro/USA 1.1826  UP    0.0008 or 08 basis points

USA/Japan: 109.77  DOWN .451 OR YEN UP 45  basis points/

Great Britain/USA 1.3853 UP .0086 UP 86   BASIS POINTS)

Canadian dollar DOWN 47 basis points to 1.2647

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The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP).. 6.4610 

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED UP)..6.4609

TURKISH LIRA:  8.44  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.040%

Your closing 10 yr US bond yield DOWN 3 IN basis points from WEDNESDAY at 1.319 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.934 DOWN 3 in basis points on the day

Your closing USA dollar index, 92.47 DOWN 17  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 71.32 PTS OR 1.01% 

 

German Dax :  CLOSED UP 12.87 PTS OR 0.38% 

 

Paris CAC CLOSED UP 15.83  PTS OR  0.24% 

 

Spain IBEX CLOSED  DOWN 38.10  PTS OR  0.43%

Italian MIB: CLOSED UP 32.94 PTS OR 0.13% 

 

WTI Oil price; 69.22 12:00  PM  EST

Brent Oil: 72.47 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    72.85  THE CROSS LOWER BY 0.37 RUBLES/DOLLAR (RUBLE HIGHER BY 27 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.360 FOR THE 10 YR BOND 1.00 PM EST EST

END

This ends the stock indices, oil price, currency crosses and interest rate closes for today 4:30 PM

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM : 67.96//

BRENT :  71.27

USA 10 YR BOND YIELD: … 1.2999.. DOWN 5 basis points…

USA 30 YR BOND YIELD: 1.892  DOWN 7  basis points..

EURO/USA 1.1825 UP 0.006   ( 6 BASIS POINTS)

USA/JAPANESE YEN:109.70 DOWN .520 ( YEN UP 52 BASIS POINTS/..

USA DOLLAR INDEX: 92.50 DOWN 15  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3837  UP .0071  

the Turkish lira close: 8.44  UP 3 BASIS PTS

the Russian rouble 72.98   UP   .32 Roubles against the uSA dollar. (UP 32 BASIS POINTS)

Canadian dollar:  1.2655 DOWN 39 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.360%

The Dow closed DOWN 151,69 POINTS OR 0.43%

NASDAQ closed DOWN 59.80 POINTS OR 0.38%

VOLATILITY INDEX:  18,72 CLOSED UP .76

LIBOR 3 MONTH DURATION: 0.116

%//libor dropping like a stone

USA trading day in Graph Form

Bonds, Bitcoin, & Bullion Bid; Big-Tech & Black Gold Skid

 
THURSDAY, SEP 09, 2021 – 04:00 PM

Today was supposed to be a buy the dip day… but that dip-buying effort failed in large part (Small Caps outperformed but suffered a big puke into the close)…

But all the majors remain red from last Friday…

“…as if millions of voices cried out in terror and were suddenly silenced…”

The Dow closed back below its 50DMA for the first time in 2 months…

Small Caps bounced off the 100DMA…

Mega-tech FANG stocks stumbled for a second day…

Source: Bloomberg

The flip-flopping rotation from cyclicals to defensives and back continued with defensives underperforming today…

Source: Bloomberg

Very strong 30Y auction, echoing yesterday’s very strong 10Y auction sent yields tumbling, erasing all the post-payrolls losses…

Source: Bloomberg

30Y yields back below 1.90% and 10Y yields fell below 1.30%…

Source: Bloomberg

The dollar reversed its brief rally after tagging the post-J-Hole plunge lows…

Source: Bloomberg

Bitcoin rebounded very modestly after Mastercard headlines, holding above $46k…

Source: Bloomberg

Wild ride in crude oil today, battered by China SPR release headlines, dip-bought, then inventory data and a super strong 30Y auction sent WTI reeling lower again…

Gold was just as choppy today but ended higher – testing back above $1800…

Finally, breadth stinks…

Source: Bloomberg

end

MORNING TRADING

USA/COMMODITY PROBLEMS

CHICKEN

Logistics is driving KFC crazy.  They lack chickens.

(zerohedge)

KFC Fried Over Lack Of Chicken, Can’t Advertise Tenders On TV

 
WEDNESDAY, SEP 08, 2021 – 08:00 PM

The entire restaurant industry continues to face massive supply chain issues. Taco Bell, Starbucks, KFC, and McDonald’s have been some of the most recent fast-food chains to warn customers about limited menu items or shortages.

KFC announced last month some menu items weren’t available for UK customers. Now the fried chicken chain has told Bloomberg that it cannot promote its breaded chicken tenders on US television because there’s a persisting chicken shortage

“On chicken tenders, we have enough to supply demand, but we would love to have more to be able to aggressively promote it on TV,” KFC US President Kevin Hochman told Bloomberg’s Leslie Patton.

“In terms of advertising and promotion, we’re going to focus on things we have abundant quantities of,” he said, noting that bone-in chicken is more plentiful now,” Hochman. 

The poultry industry has been in tight supply all year due to labor shortages of workers at slaughterhouses, making it difficult for KFC and other fast-food chains to stock enough chicken. 

While supply issues persist, the growing demand for chicken may force KFC to lose market share as customers seek chicken nuggets and sandwiches elsewhere. 

During COVID, the most popular meat in the US was broiler chicken, at roughly 96 pounds per capita in 2020. Demand for on-the-go chicken snacks at KFC has been on the rise as well. The first news of a chicken shortage to impact the fast-food chain was in April. 

However, there is some good news: Hochman notes the poultry supply chain for Yum! Brands Inc.-owned KFC is beginning to normalize. 

Untangling complex supply chains appears to be a challenging task that may persist well into 2022. At one point, the KFC shortage in the UK got so severe that people started calling police about unavailable menu items. 

end

IMPORTANT USA ECONOMIC DATA

Number of Americans on the dole falls below 12 million

(zerohedge)

The Number Of Americans On The Dole Fell Back Below 12 Million Last Week

 
THURSDAY, SEP 09, 2021 – 08:43 AM

While continuing claims disappointed last week (but did drop from revised higher numbers), initial jobless claims plunged to 310k (335k exp and 345k prior) – a new post-COVID-lockdown low…

Louisiana, California, and Michigan saw the biggest increases in claims while Missouri, Florida, and New York saw the biggest drops in initial jobless claims…

Overall, some relatively good news as the nation braces for 7-9 million people to drop off pandemic emergency benefits as almost 323k dropped off those claims last week…

And the total number of Americans on some form of government jobless benefits fell back below 12 million…

Taper time?

end

iii) Important USA Economic Stories

Atlanta Fed Bostic gets cold feet on tapering amid delta doubts

(zerohedge)

As ECB Tapers, Fed’s Bostic Gets Cold Feet Amid Delta Doubts

 
THURSDAY, SEP 09, 2021 – 08:25 AM

On the 27th of August (2021), Bostic said that the “economy’s strength calls for The Fed to reduce support,” implicitly backing a taper to the immense flood of liquidity that is floating every zombified boat in the world. The Atlanta Fed head added that it was “reasonable” to trim bond-buying in October.

Fast forward two weeks and things appear to have changed.

On the same day as The ECB announces the start of tapering (but don’t call it that) their bond purchase schemeReuters reports that Fed voting member Bostic is pushing back on the start date of The Fed’s taper amid dismal data, potentially driven by the Biden admin’s fearmongering over the Delta variant.

“As strong as the data was coming in the early part of the summer, I was really very much leaning into advocating for an earlier start than what many may have expected” on the bond buying taper, Bostic told WSJ in an interview published on Thursday.

The weaker data that we’ve seen more recently suggests to me that maybe there’s a chance for some play on this, but I still think that sometime this year is going to be appropriate (to slow the asset buying).”

There’s just one thing Raphael – what changed in the last two weeks? Because the divergent paths between reality and markets – enabled by your liquidity-gasm – has only grown wider…

Given the trend is crumbling economic data has been going on for months, why the sudden cold feet from Bostic? Was The Fed ever actually going to taper?

end

Fauci is right to fear for unvaxxed attending games but for the wrong reason!.  The vaccinated can slough off the protein and that can be dangerous to both the vaxxed and unvaxxed.

(zerohedge)

As NFL Season Kicks Off, Fearmongering Fauci Frets Over Unvaxx’d Attending Games

 
THURSDAY, SEP 09, 2021 – 04:20 PM

The 2021 NFL season kicks off tonight with the Dallas Cowboys at Tampa Bay Buccaneers. The league expects a post-pandemic season, but many virus-related challenges linger amid the spread of the delta variant. Fans have been waiting a year to return to full stadiums to see their favorite teams duke it out with opponents, but Dr. Anthony Fauci doesn’t believe that’s a good thing.

Entering the first week of the NFL season, about 93% of players and 99% of coaches and staffers are vaccinated, according to WaPo. The league has planned a 17th game season for each team with packed stadiums. 

“Our challenge right now … is certainly that we are in a major surge,” Allen Sills, the NFL’s chief medical officer, said recently.

“It’s no secret to any of you, nor is it a secret to any of us in medicine, with the impact that the delta variant is having.”

The continuing issue for the NFL is how to keep players healthy amid the spread of COVID variants. 

In August, the NFL attempted to make vaccines mandatory for all players, but the NFL Players Association refused to agree to that.

Leaguewide, unvaccinated players tested positive for COVID-19 at a rate seven times higher than unvaccinated players. One mandate the NFL did manage to make mandatory is vaccines for coaches and support staff. 

But, when it comes to football fans, Fauci is not happy.

The fearmonger-in-chief joined CNN’s Jim Sciutto in a television interview on Tuesday and was asked a series of questions about the upcoming football season in crowded college and NFL stadiums around the country amid outbreaks of COVID. He told Sciutto that he doesn’t think it’s a brilliant idea to attend these sporting events. 

“I don’t think it’s smart,” Fauci said. “Outdoors is always better than indoors, but even when you have such a congregate setting of people close together – first, you should be vaccinated. And when you do have congregate settings, particularly indoors, you should be wearing a mask.”

“We could be stuck in outbreak mode, and that’s why I think what you’re going to be seeing is…a lot more local mandates,” he warned.

“There are gonna be organizations, and there are gonna be universities, there are gonna be colleges, there are gonna be sports events, travel events, where the rule is going to be if you wanna participate – you get vaccinated,” Fauci added. “If not – sorry, you’re not going to be able to do it.”

Fauci’s appearance on CNN demonstrates what’s he’s good at: Fearmongering.  

After fans were denied access to stadiums in the 2020 season, people just want to have fun and enjoy a pre-pandemic life of tailgating at stadium parking lots ahead of games and cheering for their favorite team in a packed stadium with tens of thousands of other fans. 

Though Fauci’s comments ruin this for those, who have a natural immunity to the virus, it’s still mindblowing that the US’ top health official ignores science he doesn’t like and concentrates on science that benefits mega-biotech companies, such as the push for more vaccines and booster shots. 

For those who may have a natural immunity to the virus and don’t want Fauci to ruin their fun by discouraging them from attending a sporting event this fall, Harvard Medical School professor Martin Kulldorff makes the case that “natural immune protection that develops after a SARS-CoV-2 infection offers considerably more of a shield against the Delta variant of the pandemic coronavirus than two doses of the Pfizer-BioNTech vaccine.” 

Fauci is distraught that life for some is returning to normal.

Rand Paul calls for five years in jail

(Watson SummitNews)

end

iv) Swamp commentaries/

 

Hal Turner Radio Show – Arizona Election Canvas Shows Entire Election Fraudulent; Votes Thrown Away, replaced with non-existent “Ghost” votes

Biden DOJ Sues Texas Over Six-Week Abortion Ban

 
THURSDAY, SEP 09, 2021 – 03:30 PM

The Biden Justice Department filed suit against the state of Texas on Thursday in a bid to block the state’s new abortion law, which bans the procedure as early as six weeks into pregnancy, while also providing legal recourse for private citizens against anyone who assists a woman in killing her unborn child.

At a Thursday press conference, Attorney General Merrick Garland said the ban is “clearly unconstitutional under longstanding Supreme Court precedent.”

The suit, filed in a federal court in Austin, asks a judge to declare the measure unlawful and block its enforcement to “protect the rights that Texas has violated,” according to the Washington Post.

Garland said the law is invalid under the Supremacy Clause and the Fourteenth Amendment, is preempted by federal law, and violates the doctrine of intergovernmental immunity. The U.S. government has “an obligation to ensure that no state can deprive individuals of their constitutional rights,” he said.

The Biden administration’s decision to intervene comes after a divided Supreme Court last week refused to stop enforcement of the law, which prohibits most abortions in Texas at a stage when many women do not yet realize they are pregnant. -WaPo

Earlier this month, the Supreme Court decided in a 5-4 vote to let the law go into effect – with the court’s three liberal justices, Elena Kagan, Sonia Sotomayor and Stephen Breyer, joined by Chief Justice John Roberts in their dissent.

Constitutional scholar Jonathan Turley dissects what’s going on:

The announcement in the press release came after President Joe Biden promised a “whole government” response to the new Texas abortion law. However, Garland was pledging to enforce a law that has long been robustly enforced. The Freedom of Access to Clinic Entrances Act (FACE) to “protect those seeking to obtain or provide reproductive health services.” It specifically protects against the use or threat of force and physical obstruction that injures, intimidates, or interferes with a person seeking to obtain or provide reproductive health services or to exercise the First Amendment right of religious freedom at a place of religious worship.

That is not the basis of the new threat posed by the Texas law to abortion services. The Texas law exposes providers to private enforcement of a rule that sets an abortion bar during the pre-viability stage of a pregnancy.

The fanfare given by the DOJ to the use of the FACE reflects the limited range of possible options for the Justice Department. Indeed, as I previously wrote, efforts to create a new federal law or new federal enforcement effort to create a new basis for challenges by pro-life litigators.

The fact is that a greater challenge to Roe is not coming from Texas but Mississippi. The Court already has a case on the docket, Dobbs vs. Jackson Women’s Health Organization, that could roll back on Roe and allow for greater pre-viability limitations. Conversely, the Court could ultimately decline to review the Texas law which is likely to be declared unconstitutional under existing case law by the lower courts.

The new Texas law allows for private enforcement, not citizen action to barricade or attack clinics. FACE already protects against such threats and has been used in the past to maintain access to clinics. In the meantime, the law will be challenged in the courts, which are likely to declare it unenforceable pending a new ruling from the Supreme Court on pre-viability state limitations on abortions.

Garland was clearly under pressure from Biden to promise some action. To his credit, he did not make the situation worse by creating a federalism challenge in addition to the current challenges in the federal courts.

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

Natura Gas Tops $5 for First Time Since 2012, Rising 9.4% to $5.01 – BBG
 
Aluminum Hits Highest Since 2008 on Robust Demand, Supply Curbs – BBG
 
Uranium, the commodity used to fuel nuclear power plants, surges to a six-year high as a fund aggressively buys up physical supply https://trib.al/9A1JHfc
 
Force Majeure at Top Fertilizer Plant Has Prices Soaring
CF Industries Holdings Inc. said on Sept. 3 that it can’t fill orders from its Donaldsonville, Louisiana, nitrogen complex, which was closed ahead of Hurricane Ida… The giant Donaldsonville complex consists of 19 plants including six ammonia and five urea facilities, making nitrogen-based products for agricultural and industrial markets…  https://finance.yahoo.com/news/fertilizer-soars-top-nitrogen-plant-164207041.html
 
China’s cement prices climb significantly as demand strengthens while supply remains tight
Prices were raised by 30 – 50 yuan per tonne
https://www.yuantalks.com/chinas-cement-prices-climbs-significantly-as-demand-strengthens-while-supply-remains-tight/
 
White House Says Meatpacker Consolidation Raising Grocery Bills
The Justice Department is investigating big meatpacking companies to determine whether they are violating antitrust laws… https://www.bloombergquint.com/politics/white-house-says-meatpacker-consolidation-raising-grocery-bills
 
July JOLTS Job Openings are 10.934m, 10.0049m was expected.
 
Denmark tells some migrants to work for benefits – Some migrants in Denmark will now be required to work 37 hours a week in order to receive welfare benefits…  https://www.bbc.com/news/world-europe-58484953
 
Senate Democrats ‘seriously’ discussing national plastic tax: Schumer
The plastic tax could mirror a proposal from Sen. Sheldon Whitehouse, which would implement a 20-cent fee per pound on sale of new plastics
https://justthenews.com/government/congress/senate-democrats-seriously-discussing-national-plastic-tax-schumer
 
@jimiuorio: Ok so (Dallas Fed Pres) Robert Kaplan was trading s and p futures? Is anyone else as infuriated by this as I am?Williams Says It Could Be Appropriate for Fed to Taper This Year

  • New York Fed president assessing incoming labor-market data
  • Williams wants to see more improvement on employment goals

https://www.bloomberg.com/news/articles/2021-09-08/williams-says-it-could-be-appropriate-for-fed-to-taper-this-year
 
Dallas Fed President Kaplan spoke last night.  Here are his impact remarks per Bloomberg

  • Sees Near-Term Slowing in Economy, especially in 3Q
  • Would Not Be Surprised to See Slow Job Growth in September (Hurricane Ida?)
  • Plenty of Fiscal Stimulus Still in the Economy
  • Fed’s Asset Purchases Not Suited to Help Supply Issues
  • Data Now Suggest Sept. Taper Announcement, Oct. Start
  • Fed Asset Buying Not Doing Much to Aid Economy
  • Delaying Start of Taper to Give Fed Less Flexibility (Window is closing politically)
    Joe Biden’s Approval Rating Collapses to 39 Percent, Lowest of Presidency
    A Wednesday Economist/YouGov poll…49 percent disapprove, a drop of six points in one week..
    https://www.breitbart.com/politics/2021/09/08/poll-joe-bidens-approval-rating-collapses-to-39-percent-lowest-of-presidency/
     
    Biden Purges Trump Appointees from Fixed-Term Government Boards in ‘Unprecedented’ Departure from Norms (Let the lawsuits begin!) http://dlvr.it/S7C4gk
     
    State Department obstruction of private rescue flights from Afghanistan revealed in leaked email
    State Department ‘will not provide an approval’ of charter flights from Afghanistan, leaked email reveals – The Biden administration’s delaying of private evacuation efforts has been a widespread source of frustration, infuriating rescue organizers and even a prominent Democratic senator… No independent charters are allowed to land at [Al Udeid Air Base], the military airbase you mentioned in your communication with Samantha Power. In fact, no charters are allowed to land at an [sic] DoD base and most if not all countries in the Middle Eastern region, with the exception of perhaps Saudi Arabia will allow charters to land,” the official wrote.  “You need to find another destination country, and it can’t be the U.S. either.”… https://www.foxnews.com/politics/state-department-afghanistan-private-rescue-flights-leaked-email
     
    @bonchieredstate: (Fox’s) Peter Doocy just nails Jen Psaki when she tries to use the excuse that we don’t have personnel on the ground to facilitate the exit of the Americans being held hostage. “Who’s fault is that” he says, and she didn’t like it one bit.
     
    Congressman exposes Biden’s lies after rescuing stranded Americans
    Rep. MarkWayne Mullin said ‘It’s a bold-faced lie’ for the Biden administration to say this was a ‘successful evacuation’   https://www.foxnews.com/media/congressman-exposes-bidens-lies-rescuing-stranded-americans
     
    Fort McCoy hit by case of measles amid Afghan refugee resettlement effort
    The CDC says Afghanistan has the 7th highest number of measles cases in the world
    https://www.foxnews.com/politics/fort-mccoy-measles-afghan-refugee-resettlement-effort
     
    Afghan crisis wreaking havoc on Northern Virginia hospitals due to lack of federal planning, local officials say – The mass arrival of Afghan evacuees last month, many in need of medical care, wreaked havoc on Northern Virginia’s hospital system…
    https://www.washingtonpost.com/local/virginia-politics/afghan-crisis-wreaking-havoc-on-northern-virginia-hospitals-due-to-lack-of-federal-planning-local-officials-say/2021/09/07/5642a2aa-0fef-11ec-bc8a-8d9a5b534194_story.html
     
    @tomselliott: Biden at the end of his prepared remarks: “I‘m supposed to stop and walk out of the room.”
    https://twitter.com/tomselliott/status/1435640806610718720
     
    Jimmy Kimmel says unvaccinated people shouldn’t get ICU beds in his return to his late-night show
    https://www.foxnews.com/entertainment/jimmy-kimmel-unvaccinated-shouldnt-icu-beds-return-late-night
     
    @ggreenwald: The idea of prioritizing who gets medical care and who doesn’t based on a moral evaluation of their behavior is ethically sickening and increasingly acceptable.  ICU beds should go first to those with proof that they voted Democrat or donated to Biden’s campaign, followed by those who abstained with claims of difficultly in registering to vote, followed by those who abstained by choice, with GOP voters last in line for ICU beds.
     
    Democrats Warn if More States Pass Election Integrity Laws There Will Be a Devastating Decline in Cheating – Babylon Bee

 

end

 

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

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