SEPTEMBER 27/GOLD PRICE RISES $1.15 TO $1752.05//SILVER ADVANCES 27 CENTS TO $22.68//COVID 19 COMMENTARIES//VACCINE UPDATES/IVERMECTIN UPDATES: TWO IMPORTANT PIECES TO SEE ON THIS: 1) SPARTACUS AND NO 2 DR ROBERT MALONE DISCUSSION WITH GEERT VANDEN BOSSCHE//ISRAELI PROTEST LAST NIGHT AND TODAY WITH NEWS OF A 4TH VACCINATION..THEY HAVE NOW HAD ENOUGH!!//CHINA HAS BLACKOUTS OF ELECTRICITY DUE TO THE 3 GORGES DAM FALLOUT//CHINA’S NO 2 REAL ESTATE CONGLOMERATE, SUNAC, IN TROUBLE TONIGHT//UK OUT OF GASOLINE AS THEY FIRED ALL THE TRUCK DRIVERS WHO REFUSED VACCINATIONS//UPDATES ON THE LA PALMA VOLCANO ERUPTION//NEW YORK HOSPITALS IN CRISIS BECAUSE OF THE FIRING OF NURSES: MAY HAVE TO CLOSE//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1752.05 UP 0.95   The quote is London spot price

Silver:$22.68 UP 27  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1750.75
 
silver:  22.63
 
 
 
end
 

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

 

 

PLATINUM  $984.30 DOWN  $0.75

PALLADIUM: $1969.95 UP $.25/OZ 

 

END

Editorial of The New York Sun | February 1, 2021

end

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation.
 
COMEX DETAILS//NOTICES FILED

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

receiving today  25/30

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,749.700000000 USD
INTENT DATE: 09/24/2021 DELIVERY DATE: 09/28/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
657 C MORGAN STANLEY 2
661 C JP MORGAN 25
685 C RJ OBRIEN 30
737 C ADVANTAGE 1
905 C ADM 2
____________________________________________________________________________________________

TOTAL: 30 30
MONTH TO DATE: 2,949

issued:  30

Goldman Sachs stopped: 0

 

NUMBER OF NOTICES FILED TODAY FOR  SEPT. CONTRACT: 30 NOTICE(S) FOR 3000 OZ  (0.0933 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  2949 FOR 294900 OZ  (9.1726 TONNES) 

 

SILVER//sept CONTRACT

200 NOTICE(S) FILED TODAY FOR  1,000,000   OZ/

total number of notices filed so far this month 5582  :  for 27,910,000  oz

 

BITCOIN MORNING QUOTE  $43,708 DOWN 1364  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$43,165 DOLLARS  DOWN $1907. 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  UP $0.95 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A BIG CHANGE IN GOLD INVENTORY AT THE GLD:  A DEPOSIT  OF 0.87 TONNES OF GOLD INTO 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  993.52 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 27 CENTS

A HUGE  CHANGE  IN SILVER INVENTORY AT THE SLV:  A WITHDRAWAL OF 1.204 MILLION OZ FROM THE SLV//

 

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

THE SILVER WITHRAWALS ARE ACTUALLY “RETURNED” TO JPM, AS JPMORGAN CALLS IN ITS LEASES WITH THE SLV FUND.  (THE STORY IS THE SAME AS THE BANK OF ENGLAND’S GOLD). THE SILVER NEVER LEAVES JPMORGAN’S VAULT. THEY ARE CALLING IN THEIR LEASES FOR FEAR OF SOLVENCY ISSUES.

INVENTORY RESTS AT: 

 

545.504  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 163,66 UP 0.36 OR 0.22%

XXXXXXXXXXXXX

SLV closing price NYSE 20.95 UP $.24 OR 1.666%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI ROSE BY A SMALL SIZED 406 CONRACTST TO 144,047, AND CLOSER TO THE NEW RECORD OF 244,710, SET FEB 25/2020. THE GAIN IN OI OCCURRED DESPITE OUR STRONG  $0.26 LOSS IN SILVER PRICING AT THE COMEX  ON FRIDAY.

OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.26)

BUT THEY WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A FAIR GAIN OF 506 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 STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  SMALL INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 27.64 MILLION OZ FOLLOWED BY A 55,000 OZ  E.F.P. JUMP TO LONDON  //NEW STANDING 28.260 MILLION OZ  / v), SMALL SIZED COMEX OI GAIN
 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS – 49
 

 

 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
SEPTEMBER
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF SEPT:
 
14,303 CONTACTS  for 18 days, total 14,303 contracts or 71.515 million oz…average per day:  794 contracts or 3.973 million oz per day.

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

SEPT:  71.515 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON  (VERY SMALL ISSUANCE SO FAR)

 

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: , .. DESPITE OUR STRONG 26 CENT LOSS SILVER PRICING AT THE COMEX ///FRIDAY WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 406 CONTRACTSTHE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 100 CONTRACTS( 0 CONTRACTS ISSUED FOR SEPT AND CONTRACTS ISSUED FOR DECEMBER) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS
 
TODAY WE HAD A FAIR SIZED GAIN OF 506 OI CONTRACTS ON THE TWO EXCHANGE/THE DOMINANT FEATURE TODAY:/HUGE BANKER SHORTCOVERING AS THEY GET OUT OF DODGE/  ( DESPITE OUR STRONG $0.26 LOSSAND WE HAVE A SMALL INITIAL SILVER OZ STANDING FOR SEPTEMBER 27.640 MILLION OZ FOLLOWED TODAY BY AN EFP JUMP TO LONDON  OF 55,000 OZ TODAY//NEW STANDING 28.260 MILLION OZ//
 

WE HAD 200 NOTICES FILED TODAY FOR 1,000,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A TINY SIZED 91  CONTRACTS TO 498,005 _ ,,AND CLOSER TO  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. 

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: -123  CONTRACTS.

THE TINY SIZED DECREASE IN COMEX OI CAME DESPITE OUR GAIN IN PRICE OF $1.15///COMEX GOLD TRADING/FRIDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE  HAD ZERO LONG LIQUIDATION  AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALLED 2510 CONTRACTS…. WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR SEPT AT 3.586 TONNES, FOLLOWED BY TODAY’S 1700 OZ QUEUE JUMP //NEW STANDING 9.458 TONNES// 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $1.15 WITH RESPECT TO FRIDAY’S TRADING

 

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

WE HAD A FAIR SIZED GAIN OF 2387  OI CONTRACTS (7.424 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2419 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 0 & DEC 2419  ALL OTHER MONTHS ZERO//TOTAL: 32419 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 498,005. 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 FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2387 CONTRACTS: 32 CONTRACTS DECREASED AT THE COMEX AND 2419 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 2387 CONTRACTS OR 7.807 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2419) ACCOMPANYING THE TINY SIZED LOSS IN COMEX OI (32 OI): TOTAL GAIN IN THE TWO EXCHANGES: 2387 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 1700 QUEUE JUMP//NEW STANDING 9.458 TONNES / 3) ZERO LONG LIQUIDATION,4)TINY SIZED COMEX OI LOSS 5). FAIR 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 : 41,169, CONTRACTS OR 4,116,900 oz OR 128.05 TONNES (18 TRADING DAY(S) AND THUS AVERAGING: 2287 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 18 TRADING DAY(S) IN  TONNES: 128.05 TONNES

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

THUS EFP TRANSFERS REPRESENTS  128.05/3550 x 100% TONNES  3.60% 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          128.05 TONNES INITIAL ISSUANCE ( 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, ROSE BY A SMALL SIZED 406 CONTRACTS TO 144,096 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 100 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 100  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  100 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 406 CONTRACTS AND ADD TO THE 100 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A FAIR SIZED GAIN OF 506 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 2.530 MILLION  OZ, OCCURRED WITH OUR $0.26 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)FRIDAY MORNING/THURSDAY  NIGHT: 

SHANGHAI CLOSED DOWN 30.24 PTS OR .84%   //Hang Sang CLOSED UP 16.62 PTS OR 0.07%/The Nikkei closed DOWN 8.75 PTS OR 0.03%    //Australia’s all ordinaires CLOSED UP 0.54%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4626  /Oil UP TO 75.05 dollars per barrel for WTI and UP TO 79.15 for Brent. Stocks in Europe OPENED ALL GREEN   /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4626. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4659/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A GOOD SIZED 406 CONTRACTS TO 498,005 MOVING CLOSER TO  THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS COMEX INCREASE OCCURRED WITH OUR GAIN OF $1.15 IN GOLD PRICING FRIDAY’S COMEX TRADING.WE ALSO HAD A FAIR EFP ISSUANCE (2510 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 2510 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  & DEC.  2510 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2510  CONTRACTS 

 

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

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED 2387  TOTAL CONTRACTS IN THAT 2419 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A TINY SIZED COMEX OI OF 32 CONTRACTS.WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR SEPT   (9.458),

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

SEPT: 9.458 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 UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $1.15).,AND THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 7.424 TONNES, ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR SEPT. (9.458 TONNES)..I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE SMALL 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 -32   CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 2387 CONTRACTS OR 238,700 OZ OR 7.424 TONNES

COMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION.  IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCT.
 
THUS IN GOLD WE HAVE THE FOLLOWING:  498,005 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 49.80 MILLION OZ/32,150 OZ PER TONNE =  15.48 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1548/2200 OR 70.36% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY  143,338 contracts//    / volume//volume poor/

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 164,422 contracts//fair/raid/

 

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

 

SEPT 27

/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
 
 
385.812.
 
oz
Delaware
12 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
30  notice(s)
3000 OZ
 
0,0933 TONNES
No of oz to be served (notices)
92 contracts
9200 oz
 
0.2861 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
2949 notices
294,900 OZ
9.1726 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: 385.812 oz (12 kilobars)
 
TOTAL CUSTOMER DEPOSITS 385.812 oz
 
 
 
We had 0  customer withdrawals
)
 
 
total customer withdrawals nil    oz
     
 
 
 
 
 
 
 
 
 

We had 2  kilobar transactions 2 out of  2 transactions)

ADJUSTMENTS 2//  dealer to customer

Dealer to customer: Brinks   12,828.249 oz (399 kilobars)

 

 
 
 
 
the front month of September has an open interest of 122 for a GAIN of 17 contracts. We had 0 notices served on FRIDAY.  Thus we GAINED 17 contracts or an additional 1700 oz will stand for delivery in this non active delivery month of September for gold 
 
 
 
 
 
 
 
OCTOBER LOST 1318 CONTRACTS DOWN TO 28,772
NOVEMBER GAINED 51 CONTRACTS TO STAND AT 603
.
DEC GAINED 59  TO STAND AT 404,772
 

We had 30 notice(s) filed today for   3000  oz

FOR THE SEPT 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 30 notices were issued from their client or customer account. The total of all issuance by all participants equates to 30  contract(s) of which 25  notices were stopped (received) by j.P. Morgan dealer and 0 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 (2949) x 100 oz , to which we add the difference between the open interest for the front month of  (SEPT: 122 CONTRACTS ) minus the number of notices served upon today  30 x 100 oz per contract equals 304,100 OZ OR 9.458 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 (2949) x 100 oz+(122)  OI for the front month minus the number of notices served upon today (30} x 100 oz} which equals 304,100 oz standing OR 9.458 TONNES in this  active delivery month of SEPTEMBER.

We GAINED 17 contracts or an additional 1700 oz will not stand for delivery over on this side of the pond.

TOTAL COMEX GOLD STANDING:  9.458 TONNES

 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

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

284,899.652 PLEDGED  MANFRA 8.8615 TONNES

298,568.054, oz  JPM  9.28 TONNES

1,177,555.732 oz pledged June 12/2020 Brinks/36.50 TONNES

160,865.707, oz Pledged August 21/regular account 4.164 tonnes JPMORGAN

41,127.478 oz International Delaware:  1.27 tonnes

18,615.429 Loomis:  0.5790 tonnes

total pledged gold:  2,405,269.444oz                                     74.81 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 496.611 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 9.405 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  18,358,493.138 oz or 571.02 tonnes
 
 
 
total weight of pledged: 2,405,269.444   oz                                     74.81 tonnes
 
 
 
registered gold that can be used to settle upon: 15,953,244.0 (496.21 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes15,953,244..0 (496.21 tonnes)   
 
 
total eligible gold: 15,742,456.858 oz   (489.65 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  34,100,949.996 oz or 1,060.68 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  934.34 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 27/2021

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
 
626,192.272  oz
 
 
CNT
Brinks
Delaware
Manfra
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
612,177.039
 OZ
Manfra
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
200
 
CONTRACT(S)
 
1,000,000  OZ)
 
No of oz to be served (notices)
70 contracts
 350,000oz)
Total monthly oz silver served (contracts)  5582 contracts

 

27,910,000 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  2 deposits into customer account (ELIGIBLE ACCOUNT)

i) into Delaware:  23,700.384 oz

ii) Into Manfra:  588,476.655 oz

 
 
 

JPMorgan now has 183.706 million oz  silver inventory or 51.13% of all official comex silver. (183.706 million/360.444 million

total customer deposits today 612,177.039   oz

we had 4 withdrawals

 

ii) Out of CNT: 10,457.366 oz

i) Out of Brinks:  6929.100 oz

iii) Out of Delaware; 2000.500 oz

iv) Out of Manfra: 608,805.306 oz

 

 

total withdrawal  5626,192.272        oz

 

adjustments:  zero
 
 
 

Total dealer(registered) silver: 101.923 million oz

total registered and eligible silver:  360.44 million oz

a net   0.014 million oz  leaves  the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
For Sept. we have an open interest of 270 for a LOSS of 16 contracts.  We had 5 notices serve on FRIDAY, so we LOST 11 contracts or 55,000 additional oz will not stand for delivery at the comex in this very active delivery month of September.
There is no silver metal over on this side of the pond for our bankers to raid.
 
 
 

OCTOBER LOST 21 CONTRACTS TO STAND AT 1616

NOVEMBER GAINED 68 TO STAND AT 709  

DEC GAINED 249 CONTRACTS UP TO 125,223

 
NO. OF NOTICES FILED: 200  FOR 1,000,000 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  5582 x 5,000 oz = 27,910,000 oz to which we add the difference between the open interest for the front month of SEPT (270) and the number of notices served upon today 200 x (5000 oz) equals the number of ounces standing.

Thus the SEPT standings for silver for the SEPT./2021 contract month: 5582 (notices served so far) x 5000 oz + OI for front month of SEPT(270)  – number of notices served upon today (200) x 5000 oz of silver standing for the SEPTEMBER contract month .equals 28,260,000 oz. ..

We LOST 11 contracts or AN ADDITIONAL 55,000 oz will NOT stand on this side of the pond 

 

 

TODAY’S ESTIMATED SILVER VOLUME  35,198 CONTRACTS // volume poor///

 

FOR YESTERDAY 42,528 contracts  ,CONFIRMED VOLUME/ poor

 

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO -1.64% (SEPT27/2021)

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   (SEPT27)/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 27/WITH GOLD UP $.95 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .87 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 993.52 TONNES

SEPT 24/WITH GOLD $1.15 DOLLARS TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 8.14 TONNES FROM THE GLD///INVENTORY RESTS AT 992.65 TONNES

SEPT 23/WITH GOLD DOWN $28.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1000.79 TONNES

SEPT 22/WITH GOLD UP $.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1000.79 TONNES

SEPT 21/WITH GOLD UP $14.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1000.79 TONNES

SEPT 20/WITH GOLD UP $10.00 TODAY;A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES FOF GOLD INTO THE GLD/////INVENTORY RESTS AT 1000.79 TONNES/

SEPT 17/WITH GOLD DOWN $5.60 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .29 TONNES FROM THE GLD////INVENTORY RESTS AT 999.21 TONNES/

SEPT 15/WITH GOLD DOWN $11.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1000.21 TONNES

SEPT 14/WITH GOLD UP $12,90 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.04 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 1000.21 TONNES

SEPTEMBER 13//WITH GOLD UP $1.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 998.17 TONNES

SEPTEMBER 10//WITH GOLD DOWN $7.40//A SMALL CHANGES IN GOLD INVENTORY AT THE GLD”: A WITHDRAWAL OF .35 TONNES FROM THE GLD//INVENTORY RESTS AT 998.17

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

 
 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

SEPT 27 / GLD INVENTORY 993,52 tonnes

 

LAST;  1319 TRADING DAYS:   +69.58 TONNES HAVE BEEN ADDED THE GLD

 

LAST 989 TRADING DAYS// +  245.00 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 27/WITH SILVER UP 27 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.204 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 545.504 TONNES

SEPT 24/WITH SILVER DOWN 26 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 546.708 MILLION OZ//

SEPT 23/WITH SILVER DOWN 24 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 509,000 OZ FROM THE SLV////INVENTORY RESTS AT 546.708 MILLION OZ///

SEPT 22/WITH SILVER UP 30 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV/

INVENTORY RESTS AT 547.217 MILLION OZ/./

SEPT 21/WITH SILVER UP 39 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV..//INVENTORY RESTS AT 544.624 MILLION OZ.

SEPT 20/WITH SILVER DOWN 17 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.624 MILLION OZ/

SEPT 17/WITH SILVER DOWN 45 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.624 MILLION OZ//

SEPT 15/WITH SILVER DOWN 9 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.624 MILLION OZ/

SEPT 14/WITH SILVER UP 13 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.11 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 544.624 MILLION OZ

SEPT 13/WITH SILVER DOWN 12 CENTS; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.131MILLION OZ FORM THE SLV////INVENTORY RESTS AT 545.735 MILLION OZ/

SEPT 10 WITH SILVER DOWN 26 CENTS; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 547.866 MILLION OZ..

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.

 
 

SLV INVENTORY RESTS TONIGHT AT

SEPT 27/2021      545.504 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

 

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

Why Is Gold Not Rising?

 
 
SATURDAY, SEP 25, 2021 – 10:30 AM

Authored by Matthew Piepenburg via GoldSwitzerland.com,

Many are asking why gold is not rising, as just about every other commodity makes new highs in the backdrop of inflationary tailwinds.

That’s a very fair question.

Some are even saying gold is dead, a silly and “barbarous” old relic of ancient times, ancient math and ancient common sense.

Needless to say, we beg to differ, not because we are Swiss-based gold bugs, but simply…well… let’s explain.

Current Price vs. Current and Future Roles

For those who see history and math as guides rather than “barbarous” and outdated disciplines, their convictions regarding gold’s role, and even price trajectory, do not wane or rise simply due to the paper price of gold.

To some extent, and despite Basel 3, gold remains openly manipulated by a handful of central and bullion banks who are terrified of gold’s shine for no other reason than it embarrasses currencies (and mad monetary experiments) falling deeper into discredit.

But we track the movement of physical gold every day, and can say with blunt clarity that the paper trade in gold has zero to do with the those otherwise “barbarous” forces of the actual supply and demand of this precious metal.

Zero.

In short, the paper price of gold has become a fiction accepted as reality, which is not surprising in a financial landscape (i.e., historically over-valued stocks, negative yielding bonds and central bankers allergic to transparency) which defies every measure of honest price discovery or basic capitalism.

As for the never-ending gold vs. BTC debate, it would be wrong to say Bitcoin hasn’t taken (or continue to take) some market share away from gold, but at less than $1 trillion, BTC is not going to destroy gold’s $10T market share.

In short, the current gold price is a less important topic than its current and future role as historical insurance against mathematically-failing financial and economic systems around the globe.

That said, we are not apologists for the falling gold prices, nor do we doubt that by the end of this decade, gold will price well above $4000 per ounce and greatly reward informed investors playing the long game rather than putting green.

More on that later.

Gold’s Three Roles

For now, let’s consider gold’s historical role as a hedge against: 1) recession risk; 2) market volatility risk; and 3) inflation/currency risk.

1. Recession Hedging

As for recessions, gold is like an emotional and mathematical barometer testing the temperature of over-heated monetary expansion.

As such, it moves higher even before policy makers add more inevitable “stimulus” (i.e., mouse-click fiat currencies) into the system.

By the time policy makers officially announce a recession, it’s far too late for most investors to react.

Fortunately, gold acts more quickly, anticipating monetary expansion even before the money printers start churning.

Long before the “COVID recession” of 2020, for example, the writing was already on the wall that markets and central bankers were getting desperate.

By late 2019, debt levels were off the charts, liquidity was drying up, the repo markets were drinking hundreds of billions of Fed dollars per month and an un-official QE to the tune of $60 billion per month was in full-swing.

Then came COVID in March. Markets and GDP were tanking and gold was already on course to see (in dollar terms) a 25% rise in 2020, after a 19% rise in 2019.

In short, as a recession hedge, gold was ahead of the central bankers in protecting investors.

By the way, the Fed’s record for calling recessions and warning investors is 0 for 10…

2. Hedging Market Volatility

We all remember March of 2020, when markets puked and gold fell along with it, primarily sold-off as a liquidity source for players facing margin costs which they were forced to pay off with gold holdings.

As in 2008 and 2009, gold initially followed the stock ship below the waterline—though not nearly as far as BTC…

But as mentioned above, gold reacted quickly, anticipating the money printing (and hence dollar debasement) to come, rising steadily for the rest of that fiscal year.

Of course, stocks rose as well, thanks to the unbelievable and historically unprecedented money creation witnessed in 2020—more QE in less than a year than all of the combined QE1-QE4 and “Operation Twist” which we saw from 2009-2015.

But thankfully, gold doesn’t just follow stock markets, it hedges them, as the past shows and the future will once again confirm.

Such monetary stimulus creates what von Mises would call a “crack-up boom,” and near-term such liquidity is just wonderful for stocks and bonds.

As we’ve written elsewhere, COVID—and the policy measures which followed– literally saved the securities bubble and made this “boom” even bigger.

But the “boom”-to-volatility to sequence to come from such risk assets reaching price levels which have absolutely nothing to do with valuation will be infinitely more painful (“crack-up”) down the road for those assets than for gold the moment when, not if, this horrific financial system implodes under its own and historically un-matched weight.

In short, gold will zig when the markets zag.

The anti-gold crowd, of course, will smirk and hug their bonds, reminding us all that gold is a yield-less relic while forgetting to confess that the “no yield” of gold is ironically preferrable to over $19 trillion worth of negative yielding sovereign bonds…

3. Hedging Inflation & Currency Risk

Which brings us to the big question of the day, why is gold not rising when it should be ripping as a hedge against what is clearly an inflationary new normal?

Fair question.

We are asking this ourselves, as real rates (the ideal setting for gold) fall deeper into negative depths with each new day…

…as inflation, as well as inflation expectations, are on the objective rise:

Last year, for example, gold saw this inflation coming and thus its rising, double-digit price moves reflected the same.

But this year, with real rates still diving and inflation rising, gold is showing single single-digit losses rather than gains.

What gives?

The Market Still Believes the “Transitory” Meme

Our ultimate opinion boils down to this: We think the market still believes the central bank myth (i.e., propaganda) that the current inflation is indeed, only “transitory.”

We’ve written ad nauseum as to why inflation is anything but “transitory,” yet we can nevertheless respect the deflationists’ argument.

The Deflationists

The deflation camp, for example, rightly argues that recessionary forces, if left alone, are inherently deflationist, and the signs of economic (rather than market) declines are everywhere.

But the key mistake which such deflation (or dis-inflation) narratives make is that these natural forces have not, nor will be, “left alone.”

In other words, deflationists are somehow ignoring the monetary and fiscal elephant in the room.

That is, more, not less, unnatural monetary and fiscal liquidity is entering the system at historically unprecedented levels, levels that are more than enough to quash such otherwise natural deflationary forces.

Stated even more plainly, moderation at the fiscal and monetary level died long ago.

Simple Realism—Inflation as Necessity Rather than Debate

Central banks are desperate to reach higher inflation to inflate their way out of debt without admitting the same.

This is nothing new for fork-tongued policy makers who once “targeted” 2% inflation as a ceiling, but are now effectively “allowing” 2% inflation as the new floor.

Just as Nixon said the closing of the gold window was “transitory” in 1971, or as Bernanke promised that QE would be transitory in 2009, the current lie from on high about “transitory inflation” is no less a lie in 2021 as those other lies were in 1971 or 2009.

Again, we all just kina know this, right?

Furthermore, we just need to be realists rather than dreamers to see the inflation reality now and ahead.

Central bankers, for example, may be dishonest, but they aren’t entirely stupid, just desperate and realistic.

In the U.S., for example, a staggering as well as openly embarrassing $28.5 trillion public (i.e., national) debt level quickly limits one’s options at the White House or the Eccles Building.

Not Many Options Other than Inflation

In this realistic light, let’s consider their options. Policy makers have four tools to address such debt, namely: raise taxes, cut spending, declare bankruptcy, or devalue their currencies through inflation.

The first two are already in play in the U.S., namely political efforts to raise taxes and ‘talk’ of cutting spending, both politically difficult options.

Taking bankruptcy off the table, leaves devaluing the U.S. Dollar as the favored option, which is achieved by deliberately taking real interest rates to extreme negative levels.

Allowing inflation to run while keeping rates low reduces the number of dollars needed to repay the debt.

This hurts regular folks, but as we’ve said so many times, the Fed is not interested in regular folks.

In other words, by decreasing the value of the U.S. Dollar, the U.S. is effectively paying off its current debt with devalued money. There are no permission slips needed from Congress, nor taxpayers.

Given such realism, let us be repeatedly blunt and clear: Unlike gold not rising, inflation is not, nor will it be, “transitory.”

Instead, deliberate inflation is an inherently and deliberately necessary tool used by the same anti-heroes who put us in this debt hole.

More Fed-Speak, Less Honesty

This means the Fed will come up with whatever excuses, words, phrases and lies to justify being more dovish despite publicly flirting with hawkish talk about a Fed taper.

Already, Powell is taking the Fed way beyond its mandate and talking about social and environmental activism, as these are nice phrases to justify, you guessed it: More money creation and more (not “transitory”) inflation.

As for me, hearing Powell talk about “labor market inequality” after the Fed has spent years making the top 1% richer at the expense of an increasingly poorer bottom-90% is so rich in hypocrisy that it makes the eyes water.

In this opaque light, the notion of “Fed independence” is a complete and utter fiction.

Instead, the Fed is slowly crossing the line into becoming the direct financier to the entire nation—and the only way it can do this is via monetary expansion and deliberate (as well as much higher) inflation, which is a tax on the poor and bullet to the heart of the U.S. Dollar. Period. Full stop.

It’s All About Debt

Again, this all comes realistically back to debt.

When there’s too much unpayable debt (be it at the zombified corporate level or the embarrassed national level), rising rates becomes fatal.

The Fed has learned since 2018 that even a slight rise in rates kills the debt-saturated markets whose capital gains taxes are about all that Uncle Sam can declare as income in a nation whose GDP was sold to China years ago.

And yet… and yet… the markets somehow wish to believe the fantasy (and Fed-speak) that inflation is only “transitory.”

What’s Ahead?

We strongly think differently.

As blunt realists, we see the Fed perhaps raising rates nominally, but when adjusted by openly deliberate (yet openly denied) inflation, real rates will fall deeper as inflation rises higher.

This is because the simple reality (and choice) of nations with their backs against a debt wall is always the pursuit of inflation by design, not deflation.

As I recently wrote, nothing is real anymore, and all taboos are broken. The Fed, through QE and/or the Repurchase Program, will print more money as fiscal policy rises alongside—a veritable double-whammy for more “liquidity” to come.

This, of course, is crazy and ends badly.

The Fed, along with the White House, have tried since Greenspan to outlaw natural market forces and needed austerity in order to bloat markets, keep their jobs or win re-election.

Since we can never grow or default (?) our way out of the greatest debt hole in our history, the realistic playbook ahead is negative real rates—i.e., inflation rising higher and faster than repressed Treasury yields.

Once this becomes obvious rather than “debated,” gold will rise along side the money supply to levels well above it’s current, yet admittedly, low price.

Slowly, but surely, the $19 trillion in negative-yielding sovereign bonds will see outflows from that discredited asset and hence inflows into the “barbarous” asset: Gold.

For now, we are patient realists rather than apologists, as the market seemingly continues to price gold for only “transitory” inflation.

But once inflationary reality rises above the current “transitory” fantasy, gold will not only surge in price, but serve its far more important role of hedging against undeniable inflation and the equally undeniable (i.e., destructive) impact such inflation will have on global currencies in general and the U.S. Dollar in particular.

Gold: Biding Its Time

Despite such signposts from math, history and Real Politik, gold is currently under attack for not “doing enough,” despite two years of double-digit rises.

Gold investors, however, are not greedy, they are patient, and they hold this physical rather than paper asset for the long game, as previously described.

And as for that long game, the inflation ahead, as well destruction of the currency in your pocket today and tomorrow, means today’s gold price is not nearly as relevant an issue as gold’s role in protecting far-sighted investors from what’s ahead.

In the end, gold’s primary role is acting as insurance for a global financial and currency system already burning to the ground.

But for those naturally asking about price, forecasting and models, as any who worked in a bank know, such models are as complex as they are useless.

We keep things simpler and humbler.

By just tracking monetary growth rates with certain regressions, a realistic price target for gold based upon inevitable monetary expansion suggests gold at well past $4000 by the end of this decade.

That may or may not seem sexy enough for those chasing returns today, but when those returns convert into losses too hard to imagine as markets reach new highs, we must genuinely remind you that even with Fed “support,” all bubbles do the same thing: “Pop.”

We are not here to tell you when, as no one can.

We are simply suggesting you prepare, rather than react.

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

 

-END-

ii) Important gold commentaries courtesy of GATA/Chris Powell

Pam and Russ Martens: Woman who helped expose Wall Street mega-banks nominated as a top regulator

 

 

 Section: Daily Dispatches

 

By Pam and Russ Martens
Wall Street on Parade
Friday, September 24, 2021

Yesterday President Biden took the bold step of nominating Saule Omarova to head the Office of the Comptroller of the Currency, a top federal bank regulator. Omarova is a law professor at Cornell University and has written extensively on systemic risk containment. 

Prior to joining Cornell in 2014, Omarova was associate professor at the University of North Carolina School of Law. Prior to her academic career, Omarova worked for the corporate law firm Davis Polk & Wardwell, in their Financial Institutions Group. In 2006-07 she served at the U.S. Department of the Treasury as a Special Advisor for Regulatory Policy to the Under Secretary for Domestic Finance.

Omarova represents a triple threat to the insidious behavior of mega-banks on Wall Street: She has an in-depth knowledge of how they operate; she is not timid about explaining it to investigative bodies in the U.S. Senate; and, as head of the OCC she would have a bully pulpit to speak to the American people directly about the urgency of reining in the systemic risks on Wall Street.

Omarova has already demonstrated to Wall Street that it should not underestimate her. 

In 2013 and 2014 the U.S. Senate took testimony from witnesses on the matter of the mega banks on Wall Street quietly buying up unprecedented amounts of physical commodities and then trading on their inside information of those markets. Witnesses pointed to the Federal Reserve as aiding and abetting these egregious manipulations by its rewriting the rules governing such ownership interests. …

… For the remainder of the report:

https://wallstreetonparade.com/2021/09/woman-who-helped-expose-wall-street-mega-banks-vast-holdings-of-physical-commodities-is-nominated-as-a-top-bank-regulator/

 

END

Wealthy German rush assets to Switzerland

Reuters/GATA)

Wealthy Germans rush assets to Switzerland ahead of election

 

 

 Section: Daily Dispatches

 

By Oliver Hirt
Reuters
Friday, September 24, 2021

ZURICH — A potential lurch to the left in Germany’s election on Sunday is scaring millionaires into moving assets into Switzerland, bankers and tax lawyers say.

If the centre-left Social Democrats, hard-left Linke, and environmentalist Greens come to power, the reintroduction of a wealth tax and a tightening of inheritance tax could be on the political agenda.

“For the super-rich, this is red hot,” said a German-based tax lawyer with extensive Swiss operations. “Entrepreneurial families are highly alarmed.”

The move shows how many rich people still see Switzerland as an attractive place to park wealth, despite its efforts to abolish its image as a billionaires’ safe haven. …

… For the remainder of the report:

https://www.reuters.com/world/europe/german-millionaires-rush-assets-switzerland-ahead-election-2021-09-24/

 END

For your interest…

Roman emperors’ gold money holds value even as their sovereignty is long gone

 

 

 Section: Daily Dispatches

 

Hoard of Roman Gold Coins Recovered from Spanish Seabed

From Heritage Daily, Luton, England
Thursday, September 23, 2021

Archaeologists from the University of Alicante and the Spanish Civil Guard Special Underwater Brigade, in collaboration with the Town Council of Xàbia, have recovered a hoard of 53 gold coins from the 4th and 5th century AD.

The horde was identified after two amateur free divers discovered eight coins in the bay of Portitxol in Xàbia.

The bay of Portitxol is well known for the abundance of underwater archaeological remains, where studies have found anchors, amphora, ceramics, and artifacts associated with ancient navigation.

In a series of underwater studies, researchers recovered 53 Roman coins from the late Roman period around the 4th and 5th century AD, consisting of coins depicting Valentinian I (three coins), Valentinian II (seven coins), Theodosius I (15 coins), Arcadius (17 coins), Honorius (10 coins), and an unidentified coin. 

The team also discovered nails, in addition to deteriorated lead remains that may belong to a sea chest. …

… For the remainder of the report:

https://www.heritagedaily.com/2021/09/hoard-of-roman-gold-coins-recovered-from-seabed/141483

END

For your interest…

Ancient gold treasures from Kazakhstan shed light on mysterious Saka people

 

 

 Section: Daily Dispatches

 

From BBC News, London
Sunday, September 26, 2021

Astounding gold artifacts belonging to a prehistoric nomadic warrior horse people are going on display in the United Kingdom for the first time.

Many of the treasures were recently discovered in Saka burial mounds in East Kazakhstan — part of an ancient culture largely unknown outside the central Asian country.

They left no written accounts of their beliefs and culture, but the latest archaeological techniques are starting to reveal their secrets.

BBC News has been finding out more about the artefacts at the Fitzwilliam Museum in Cambridge, to discover who the Saka really were. …

… For the remainder of the report and its photos:

https://www.bbc.com/news/uk-england-cambridgeshire-58487544

END

For your interest..

Special ‘loonie’ coin commemorates gold rush and Yukon First Nation history

 

 

 Section: Daily Dispatches

 

By Haley Ritchie
Yukon News, Whitehorse, Yukon Territory, Canada
Sunday, September 26, 2021

Keep an eye on your pocket change — a Klondike scene will be replacing the loon on three million coins going into circulation this week.

The Royal Canadian Mint has released a special edition loonie that commemorates the 125th anniversary of the Klondike Gold Rush and the history of the Tr’ondëk Hwëch’in and Carcross/Tagish First Nations.

“We’ve been making commemorative circulation coins for years and they’re a very convenient vehicle for the government to put out these stories that are important for Canadians to either remember or to learn,” said public affairs manager Alex Reeves.

Reeves noted that the stories Canadians tell about the period of gold discovery starting in 1896 is often a selective one.

This time, the Mint partnered with the Tr’ondëk Hwëch’in and Carcross/Tagish First Nations to bring the coin to life.

“When we talked to those communities, we found out pretty quickly that their view and their experiences of the Klondike Gold Rush was not as positive as conventional history has told Canadians for generations,” he said. …

… For the remainder of the report:

https://www.yukon-news.com/life/special-edition-loonie-commemorates-the-gold-rush-and-yukon-first-nation-history/

END

For your interest….

CIA considered assassination and kidnapping as retaliation for exposure by Wikileaks

 

 

 Section: Daily Dispatches

 

Wikileaks has provided crucial documents revealing the U.S. government’s gold price suppression policy:

http://www.gata.org/node/10380

http://www.gata.org/node/10416

http://www.gata.org/node/17081

* * *

By Zach Dorfman, Sean D. Naylor, and Michael Isikoff
Yahoo News, Sunnyvale, California
Sunday, September 26, 2021

In 2017, as Julian Assange began his fifth year holed up in Ecuador’s embassy in London, the CIA plotted to kidnap the WikiLeaks founder, spurring heated debate among Trump administration officials over the legality and practicality of such an operation.

Some senior officials inside the CIA and the Trump administration even discussed killing Assange, going so far as to request “sketches” or “options” for how to assassinate him. Discussions over kidnapping or killing Assange occurred “at the highest levels” of the Trump administration, said a former senior counterintelligence official. “There seemed to be no boundaries.”

The conversations were part of an unprecedented CIA campaign directed against WikiLeaks and its founder. The agency’s multipronged plans also included extensive spying on WikiLeaks associates, sowing discord among the group’s members, and stealing their electronic devices.

While Assange had been on the radar of U.S. intelligence agencies for years, these plans for an all-out war against him were sparked by WikiLeaks’ ongoing publication of extraordinarily sensitive CIA hacking tools, known collectively as “Vault 7,” which the agency ultimately concluded represented “the largest data loss in CIA history.” …

… For the remainder of the report:

https://news.yahoo.com/kidnapping-assassination-and-a-london-shoot-out-inside-the-ci-as-secret-war-plans-against-wiki-leaks-090057786.html

END

III) OTHER PHYSICAL STORIES/COMMODITIES/PHYSICAL SHORTAGES //CRYPTOCURRENCIES

 

URANIUM

 

end

 
CRYPTOCURRENCIES/
 
end
 

Your early MONDAY 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 6.4626 

 

//OFFSHORE YUAN 6.4659  /shanghai bourse CLOSED DOWN 30.24 PTS OR .84% 

 

HANG SANG CLOSED UP 16.62 PTS OR 0.070% 

 

2. Nikkei closed DOWN 16.62 PTS OR 0.07%  

 

3. Europe stocks  ALL GREEN

 

USA dollar INDEX UP TO  93.42/Euro FALLS TO 1.1694

3b Japan 10 YR bond yield: RISES TO. +.056/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 110.52/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST ABOVE 17,000

3d USA/Yen rate now well below the important 120 barrier this morning

3e WTI:: 75.05 and Brent: 79.15

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

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

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

3h Oil 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 -.206%/Italian 10 Yr bond yield RISES to 0.81% /SPAIN 10 YR BOND YIELD UP TO 0.43%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.02: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 0.82

3k Gold at $1739.40 silver at: 22.61   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 12/100 in roubles/dollar) 72.63

3m oil into the 75 dollar handle for WTI and  79 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 110.99 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 .9279 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0850 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 0.204%

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 1.490% early this morning. Thirty year rate at 2.010%

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

6.  TURKISH LIRA:  UP  TO 8.83..  VERY DEADLY

Futures Slide On Growing Stagflation Fears As Treasury Yields Surge

 
MONDAY, SEP 27, 2021 – 08:09 AM

US index futures, European markets and Asian stocks all turned negative during the overnight session, surrendering earlier gains as investors turned increasingly concerned about China’s looming slowdown – and outright contraction – amid a global stagflationary energy crunch, which sent 10Y TSY yields just shy of 1.50% this morning following a Goldman upgrade in its Brent price target to $90 late on Sunday. At 745 a.m. ET, S&P 500 e-minis were down 4.75 points, or 0.1% after rising as much as 0.6%, Nasdaq 100 e-minis were down 83 points, or 0.54% and Dow e-minis were up 80 points, or 0.23%. The euro slipped as Germany looked set for months of complex coalition talks.

While the market appears to have moved beyond the Evergrande default, the debt crisis at China’s largest developer festers (with Goldman saying it has no idea how it will end), and data due this week will show a manufacturing recovery in the world’s second-largest economy is faltering faster. A developing energy crisis threatens to crimp global growth further at a time markets are preparing for a tapering of Fed stimulus. The week could see volatile moves as traders scrutinize central bankers’ speeches, including Chair Jerome Powell’s meetings with Congressional panels.

“Most bad news comes from China these days,” Ipek Ozkardeskaya, a senior analyst at Swissquote Group Holdings, wrote in a note. “The Evergrande debt crisis, the Chinese energy crackdown on missed targets and the ban on cryptocurrencies have been shaking the markets, along with the Fed’s more hawkish policy stance last week.”

Oil majors Exxon Mobil and Chevron Corp rose 1.5% and 1.2% in premarket trade, respectively, tracking crude prices, while big lenders including JPMorgan, Citigroup, Morgan Stanley and Bank of America Corp gained about 0.8%.Giga-cap FAAMG growth names such as Alphabet, Microsoft, Amazon.com, Facebook and Apple all fell between 0.3% and 0.4%, as 10Y yield surged, continuing their selloff from last week, which saw the 10Y rise as high as 1.4958% and just shy of breaching the psychological 1.50% level.

While growth names were hit, value names rebounded as another market rotation appears to be in place: industrials 3M Co and Caterpillar Inc, which tend to benefit the most from an economic rebound, also inched higher (although one should obviously be shorting CAT here for its China exposure). Market participants have moved into value and cyclical stocks from tech-heavy growth names after the Federal Reserve last week indicated it could begin unwinding its bond-buying program by as soon as November, and may raise interest rates in 2022. Here are some other notable premarket movers:

  • Gores Guggenheim (GGPI US) shares rise 7.2% in U.S. premarket trading as Polestar agreed to go public with the special purpose acquisition company, in a deal valued at about $20 billion.
  • Naked Brand (NAKD US), one of the stocks caught up in the first retail trading frenzy earlier this year, rises 11% in U.S. premarket trading, extending Friday’s gains. Among other so-called meme stocks in premarket trading: ReWalk Robotics (RWLK) +6.5%, Vinco Ventures (BBIG) +18%, Camber Energy (CEI) +2.9%
  • Pfizer (PFE US) and Opko Health (OPK US) in focus after they said on Friday that the FDA extended the review period for the biologics license application for somatrogon. Opko fell 3.5% in post-market trading.
  • Aspen Group (ASPU) climbed 10% in Friday postmarket trading after board member Douglas Kass buys $172,415 of shares, according to a filing with the U.S. Securities & Exchange Commission.
  • Seaspine (SPNE US) said spine surgery procedure volumes were curtailed in many areas of the U.S. in 3Q and particularly in August.
  • Tesla (TSLA US) and other electric- vehicle related stocks globally may be active on Monday after Germany’s election, in which the Greens had their best-ever showing and are likely to be part of any governing coalition.

Europe likewise drifted lower, with the Stoxx Europe 600 Index erasing earlier gains and turning negative as investors weighed the risk to global growth from the China slowdown and the energy crunch. The benchmark was down 0.1% at last check. Subindexes for technology (-0.9%) and consumer (-0.8%) provide the main drags while value outperformed, with energy +2.4%, banks +2% and insurance +1.3%.  The DAX outperformed up 0.5%, after German election results avoided the worst-case left-wing favorable outcome.  U.S. futures. Rolls-Royce jumped 12% to the highest since March 2020 after the company was selected to provide the powerplant for the B-52 Stratofortress under the Commercial Engine Replacement Program. Here are some of the other biggest European movers today

  • IWG rises as much as 7.5% after a report CEO Mark Dixon is exploring a multibillion-pound breakup of the flexible office-space provider
  • AUTO1 gains as much as 6.1% after JPMorgan analyst Marcus Diebel raised the recommendation to overweight from neutral
  • Cellnex falls as much as 4.3% to a two-month low after the tower firm is cut to sell from neutral at Citi, which says the stock is “priced for perfection in an imperfect industry”
  • European uranium stocks fall with Yellow Cake shares losing as much as 6% and Nac Kazatomprom shares declining as much as 4.7%. Both follow their U.S. peers down following weeks of strong gains as the price of uranium ballooned

For those who missed it, Sunday’s closely-watched German elections concluded with the race much closer than initially expected:

  • SPD at 25.7%,
  • CDU/CSU at 24.1%,
  • Greens at 14.8%,
  • FDP at 11.5%,
  • AfD at 10.3%
  • Left at 4.9%,

the German Federal Returning Officer announced the seat distribution from the preliminary results which were SPD at 206 seats, CDU/CSU at 196. Greens at 118, FDP at 92, AfD at 83, Left at 39 and SSW at 1.

As it stands, three potential coalitions are an option,

  • 1) SPD, Greens and FDP (traffic light),
  • 2) CDU/CSU, Greens and FDP (Jamaica),
  • 3) SPD and CDU/CSU (Grand Coalition but led by the SPD).

Note, option 3 is seen as the least likely outcome given that the CDU/CSU would be unlikely willing to play the role of a junior partner to the SPD. Therefore, given the importance of the FDP and Greens in forming a coalition for either the SPD or CDU/CSU, leaders of the FDP and Greens have suggested that they might hold their own discussions with each other first before holding talks with either of the two larger parties. Given the political calculus involved in trying to form a coalition, the process is expected to play out over several months. From a markets perspective, the tail risk of the Left party being involved in government has now been removed due to their poor performance and as such, Bunds trade on a firmer footing. Elsewhere, EUR is relatively unfazed due to the inconclusive nature of the result. We will have more on this in a subsequent blog post.

Asian stocks fell, reversing an earlier gain, as a drop in the Shanghai Composite spooked investors in the region by stoking concerns about the pace of growth in China’s economy.  The MSCI Asia Pacific Index wiped out an advance of as much as 0.7%, on pace to halt a two-day climb. Consumer discretionary names and materials firms were the biggest contributors to the late afternoon drag. Financials outperformed, helping mitigate drops in other sectors.  “Seeing Shanghai shares extending declines, investors’ sentiment has turned weak, leading to profit-taking on individual stocks or sectors that have been gaining recently,” said Shoichi Arisawa, an analyst at Iwai Cosmo Securities. “The drop in Chinese equities is reminding investors about a potential slowdown in their economy.”  The Shanghai Composite was among the region’s worst performers along with Vietnam’s VN Index. Shares of China’s electricity-intensive businesses tumbled after Beijing curbed power supplies in the country’s manufacturing hubs to cut emissions. The CSI 300 still rose, thanks to gains in heavily weighted Kweichow Moutai and other liquor makers. Asian equities started the day on a positive note as financials jumped, tracking gains in U.S. peers and following a rise in Treasury yields. Resona Holdings was among the top performers after Morgan Stanley raised its view on the stock and Japanese banks. The regional market has been calmer over the past few trading sessions after being whipsawed by concerns over any fallout from China Evergrande Group’s debt troubles. While anxiety lingers, many investors expect China will resolve the distressed property developer’s problems rather than let them spill over into an echo of 2008’s Lehman crisis.

Japanese equities closed lower, erasing an earlier gain, as concerns grew over valuations following recent strength in the local market and turmoil in China. Machinery and electronics makers were the biggest drags on the Topix, which fell 0.1%. Daikin and Bandai Namco were the largest contributors to a dip of less than 0.1% in the Nikkei 225. Both gauges had climbed more 0.5% in morning trading. Meanwhile, the Shanghai Composite Index fell as much as 1.5% as industrials tumbled amid a power crunch. “Seeing Shanghai shares extending declines, investors’ sentiment has turned weak, leading to profit-taking on individual stocks or sectors that have been gaining recently,” said Shoichi Arisawa, an analyst at Iwai Cosmo Securities Co. “The drop in Chinese equities is reminding investors about a potential slowdown in their economy. That’s why marine transportation stocks, which are representative of cyclical sectors, fell sharply.” Shares of shippers, which have outperformed this year, fell as investors turned their attention to reopening plays. Travel and retail stocks gained after reports that the government is making final arrangements to lift all the coronavirus state of emergency order in the nation as scheduled at the end of this month.

Australia’s commodity-heavy stocks advanced as energy, banking shares climb. The S&P/ASX 200 index rose 0.6% to close at 7,384.20, led by energy stocks. Banks also posted their biggest one-day gain since Aug. 2. Travel stocks were among the top performers after the prime minister said state premiers must not keep borders closed once agreed Covid-19 vaccination targets are reached. NextDC was the worst performer after the company’s CEO sold 1.6 million shares. In New Zealand, the S&P/NZX 50 index.

In FX, the U.S. dollar was up 0.1%, while the British pound, Australian dollar, and Canadian dollar lead G-10 majors, with the Swedish krona and Swiss franc lagging.

•    The Bloomberg Dollar Spot Index was little changed and the greenback traded mixed versus its Group-of-10 peers
o    Volatility curves in the major currencies were inverted last week due to a plethora of central bank meetings and risk-off concerns. They have since normalized as stocks stabilize and traders assess the latest forward guidance on monetary policy
•    The yield on two-year U.S. Treasuries touched the highest level since April 2020, as tightening expectations continued to put pressure on front-end rates and ahead of debt sales later Monday
•    The pound advanced, with analyst focus on supply chain problems as Prime Minister Boris Johnson considers bringing in army drivers to help. Bank of England Governor Andrew Bailey’s speech later will be watched after last week’s hawkish meeting
•    Antipodean currencies, as well as the Norwegian krone and the Canadian dollar were among the best Group-of-10 performers amid a rise in commodity prices
•    The yen pared losses after falling to its lowest level in six weeks and Japanese stocks paused their rally and amid rising Treasury yields

 

In rates, treasuries extended their recent drop, led by belly of the curve ahead of this week’s front-loaded auctions, which kick off Monday with 2- and 5-year note sales.  Yields were higher by up to 4bp across belly of the curve, cheapening 2s5s30s spread by 3.2bp on the day; 10-year yields sit around 1.49%, cheaper by 3.5bp and underperforming bunds, gilts by 1.5bp and 0.5bp while the front-end of the curve continues to sell off as rate-hike premium builds — 2-year yields subsequently hit 0.284%, the highest level since April 2020. 5-year yields top at 0.988%, highest since Feb. 2020 while 2-year yields reach as high as 0.288%; in long- end, 30-year yields breach 2% for the first time since Aug. 13. Auctions conclude Tuesday with 7-year supply. Host of Fed speakers due this week, including three scheduled for Monday.

In commodities, Brent futures climbed 1.4% to $79 a barrel, while WTI futures hit $75 a barrel for the first time since July, amid an escalating energy crunch across Europe and now China. Base metals are mixed: LME copper rises 0.4%, LME tin and nickel drop over 2%. Spot gold gives back Asia’s gains to trade flat near $1,750/oz

In equities, Stoxx 600 is up 0.6%, led by energy and banks, and FTSE 100 rises 0.4%. Germany’s DAX climbs 1% after German elections showed a narrow victory for social democrats, with the Christian Democrats coming in a close second, according to provisional results. S&P 500 futures climb 0.3%, Dow and Nasdaq contracts hold in the green. In FX, the U.S. dollar is up 0.1%, while the British pound, Australian dollar, and Canadian dollar lead G-10 majors, with the Swedish krona and Swiss franc lagging. Base metals are mixed: LME copper rises 0.4%, LME tin and nickel drop over 2%. Spot gold gives back Asia’s gains to trade flat near $1,750/oz

Investors will now watch for a raft of economic indicators, including durable goods orders and the ISM manufacturing index this week to gauge the pace of the recovery, as well as bipartisan talks over raising the $28.4 trillion debt ceiling. The U.S. Congress faces a Sept. 30 deadline to prevent the second partial government shutdown in three years, while a vote on the $1 trillion bipartisan infrastructure bill is scheduled for Thursday.

On today’s calendar we get the latest Euro Area M3 money supply, US preliminary August durable goods orders, core capital goods orders, September Dallas Fed manufacturing activity. We also have a bunch of Fed speakers including Williams, Brainard and Evans.

Market Snapshot

  • S&P 500 futures down 0.1% to 4,442.50
  • STOXX Europe 600 up 0.3% to 464.54
  • MXAP little changed at 200.75
  • MXAPJ little changed at 642.52
  • Nikkei little changed at 30,240.06
  • Topix down 0.1% to 2,087.74
  • Hang Seng Index little changed at 24,208.78
  • Shanghai Composite down 0.8% to 3,582.83
  • Sensex up 0.2% to 60,164.70
  • Australia S&P/ASX 200 up 0.6% to 7,384.17
  • Kospi up 0.3% to 3,133.64
  • German 10Y yield fell 3.1 bps to -0.221%
  • Euro down 0.3% to $1.1689
  • Brent Futures up 1.2% to $79.04/bbl
  • Gold spot little changed at $1,750.88
  • U.S. Dollar Index up 0.15% to 93.47

Top Overnight News from Bloomberg

  • House Speaker Nancy Pelosi put the infrastructure bill on the schedule for Monday under pressure from moderates eager to get the bipartisan bill, which has already passed the Senate, enacted. But progressives — whose votes are likely vital — are insisting on progress first on the bigger social-spending bill
  • Olaf Scholz of the center-left Social Democrats defeated Chancellor Angela Merkel’s conservatives in an extremely tight German election, setting in motion what could be months of complex coalition talks to decide who will lead Europe’s biggest economy
  • China’s central bank pumped liquidity into the financial system after borrowing costs rose, as lingering risks posed by China Evergrande Group’s debt crisis hurt market sentiment toward its peers as well
  • Global banks are about to get a comprehensive blueprint for how derivatives worth several hundred trillion dollars may be finally disentangled from the London Interbank Offered Rate
  • Economists warned of lower economic growth in China as electricity shortages worsen in the country, forcing businesses to cut back on production
  • Governor Haruhiko Kuroda says it’s necessary for the Bank of Japan to continue with large-scale monetary easing to achieve the bank’s 2% inflation target
  • The quant revolution in fixed income is here at long last, if the latest Invesco Ltd. poll is anything to go by. With the work-from-home era fueling a boom in electronic trading, the majority of investors in a $31 trillion community say they now deploy factor strategies in bond portfolios

A more detailed look at global markets courtesy of Newsquawk

Asian equity markets traded somewhat mixed with the region finding encouragement from reopening headlines but with gains capped heading towards month-end, while German election results remained tight and Evergrande uncertainty continued to linger. ASX 200 (+0.6%) was led higher by outperformance in the mining related sectors including energy as oil prices continued to rally amid supply disruptions and views for a stronger recovery in demand with Goldman Sachs lifting its year-end Brent crude forecast from USD 80/bbl to USD 90/bbl. Furthermore, respectable gains in the largest weighted financial sector and details of the reopening roadmap for New South Wales, which state Premier Berijiklian sees beginning on October 11th, further added to the encouragement. Nikkei 225 (Unch) was kept afloat for most of the session after last week’s beneficial currency flows and amid reports that Japan is planning to lift emergency measures in all areas at month-end, although upside was limited ahead of the upcoming LDP leadership race which reports noted are likely to go to a run-off as neither of the two main candidates are likely to achieve a majority although a recent Kyodo poll has Kono nearly there at 47.4% of support vs. nearest contender Kishida at 22.4%. Hang Seng (+0.1%) and Shanghai Comp. (-0.8%) were varied with the mainland choppy amid several moving parts including back-to-back daily liquidity efforts by the PBoC since Sunday and with the recent release of Huawei’s CFO following a deal with US prosecutors. Conversely, Evergrande concerns persisted as Chinese cities reportedly seized its presales to block the potential misuse of funds and its EV unit suffered another double-digit percentage loss after scrapping plans for its STAR Market listing. There were also notable losses to casino names after Macau tightened COVID-19 restrictions ahead of the Golden Week holidays and crypto stocks were hit after China declared crypto activities illegal which resulted in losses to cryptoexchange Huobi which dropped more than 40% in early trade before nursing some of the losses, while there are also concerns of the impact from an ongoing energy crisis in China which prompted the Guangdong to ask people to turn off lights they don’t require and use air conditioning less. Finally, 10yr JGBs were flat but have clawed back some of the after-hour losses on Friday with demand sapped overnight amid the mild gains in stocks and lack of BoJ purchases in the market. Elsewhere, T-note futures mildly rebounded off support at 132.00, while Bund futures outperformed the Treasury space amid mild reprieve from this month’s losses and with uncertainty of the composition for the next German coalition.

Top Asian News

  • Moody’s Says China to Safeguard Stability Amid Evergrande Issues
  • China’s Tech Tycoons Pledge Allegiance to Xi’s Vision
  • China Power Crunch Hits iPhone, Tesla Production, Nikkei Reports
  • Top Netflix Hit ‘Squid Game’ Sparks Korean Media Stock Surge

Bourses in Europe have trimmed the gains seen at the open, albeit the region remains mostly in positive territory (Euro Stoxx 50 +0.4%; Stoxx 600 +0.2%) in the aftermath of the German election and amid the looming month-end. The week also sees several risk events, including the ECB’s Sintra Forum, EZ CPI, US PCE and US ISM Manufacturing – not to mention the vote on the bipartisan US infrastructure bill. The mood in Europe contrasts the mixed handover from APAC, whilst US equity futures have also seen more divergence during European trade – with the yield-sensitive NQ (-0.3%) underperforming the cyclically-influenced RTY (+0.4%). There has been no clear catalyst behind the pullback since the Cash open. Delving deeper into Europe, the DAX 40 (+0.6%) outperforms after the tail risk of the Left party being involved in government has now been removed. The SMI (-0.6%) has dipped into the red as defensive sectors remain weak, with the Healthcare sector towards to bottom of the bunch alongside Personal & Household Goods. On the flip side, the strength in the price-driven Oil & Gas and yield-induced Banks have kept the FTSE 100 (+0.2%) in green, although the upside is capped by losses in AstraZeneca (-0.4%) and heavy-weight miners, with the latter a function of declining base metal prices. The continued retreat in global bonds has also hit the Tech sector – which resides as the laggard at the time of writing. In terms of individual movers, Rolls-Royce (+8.5%) trades at the top of the FTSE 100 after winning a USD 1.9bln deal from the US Air Force. IWG (+6.5%) also extended on earlier gains following reports that founder and CEO Dixon is said to be mulling a multibillion-pound break-up of the Co. that would involve splitting it into several distinct companies. Elsewhere, it is worth being cognizant of the current power situation in China as the energy crisis spreads, with Global Times also noting that multiple semiconductor suppliers for Tesla (Unch), Apple (-0.4% pre-market) and Intel (Unch), which have manufacturing plants in the Chinese mainland, recently announced they would suspend their factories’ operations to follow local electricity use policies.

Top European News

  • U.K. Relaxes Antitrust Rules, May Bring in Army as Pumps Run Dry
  • Magnitude 5.8 Earthquake Hits Greek Island of Crete
  • German Stocks Rally as Chances Wane for Left-Wing Coalition
  • German Landlords Rise as Left’s Weakness Trumps Berlin Poll

In FX, the Aussie is holding up relatively well on a couple of supportive factors, including a recovery in commodity prices overnight and the Premier of NSW setting out a timetable to start lifting COVID lockdown and restrictions from October 11 with an end date to completely re-open on December 1. However, Aud/Usd is off best levels against a generally firm Greenback on weakness and underperformance elsewhere having stalled around 0.7290, while the Loonie has also run out of momentum 10 pips or so from 1.2600 alongside WTI above Usd 75/brl.

  • DXY/EUR/CHF – Although the risk backdrop is broadly buoyant and not especially supportive, the Buck is gleaning traction and making gains at the expense of others, like the Euro that is gradually weakening in wake of Sunday’s German election that culminated in narrow victory for the SPD Party over the CDU/CSU alliance, but reliant on the Greens and FDP to form a Government. Eur/Usd has lost 1.1700+ status and is holding a fraction above recent lows in the form of a double bottom at 1.1684, but the Eur/Gbp cross is looking even weaker having breached several technical levels like the 100, 21 and 50 DMAs on the way down through 0.8530. Conversely, Eur/Chf remains firm around 1.0850, and largely due to extended declines in the Franc following last week’s dovish SNB policy review rather than clear signs of intervention via the latest weekly Swiss sight deposit balances. Indeed, Usd/Chf is now approaching 0.9300 again and helping to lift the Dollar index back up towards post-FOMC peaks within a 93.494-206 range in advance of US durable goods data, several Fed speakers, the Dallas Fed manufacturing business index and a double dose of T-note supply (Usd 60 bn 2 year and Usd 61 bn 5 year offerings).
  • GBP/NZD/JPY – As noted above, the Pound is benefiting from Eur/Gbp tailwinds, but also strength in Brent to offset potential upset due to the UK’s energy supply issues, so Cable is also bucking the broad trend and probing 1.3700. However, the Kiwi is clinging to 0.7000 in the face of Aud/Nzd headwinds that are building on a break of 1.0350, while the Yen is striving keep its head afloat of another round number at 111.00 as bond yields rebound and curves resteepen.
  • SCANDI/EM – The Nok is also knocking on a new big figure, but to the upside vs the Eur at 10.0000 following the hawkish Norges Bank hike, while the Cnh and Cny are holding up well compared to fellow EM currencies with loads of liquidity from the PBoC and some underlying support amidst the ongoing mission to crackdown on speculators in the crypto and commodity space.

In commodities, WTI and Brent front-month futures kicked the week off on a firmer footing, which saw Brent Nov eclipse the USD 79.50/bbl level (vs low 78.21/bbl) whilst its WTI counterpart hovers north of USD 75/bbl (vs low 74.16/bbl). The complex could be feeling some tailwinds from the supply crunch in Britain – which has lead petrol stations to run dry as demand outpaces the supply. Aside from that, the landscape is little changed in the run-up to the OPEC+ meeting next Monday, whereby ministers are expected to continue the planned output hikes of 400k BPD/m. On that note, there have been reports that some African nations are struggling to pump more oil amid delayed maintenance and low investments, with Angola and Nigeria said to average almost 300k BPD below their quota. On the Iranian front, IAEA said Iran permitted it to service monitoring equipment during September 20th-22nd with the exception of the centrifuge component manufacturing workshop at the Tesa Karaj facility, with no real updates present regarding the nuclear deal talks. In terms of bank commentary, Goldman Sachs raised its year-end Brent crude forecast by USD 10 to USD 90/bbl and stated that Hurricane Ida has more than offset the ramp-up in OPEC+ output since July with non-OPEC+, non-shale output continuing to disappoint, while it added that global oil demand-deficit is greater than expected with a faster than anticipated demand recovery from the Delta variant. Conversely, Citi said in the immediate aftermath of skyrocketing prices, it is logical to be bearish on crude oil and nat gas today and forward curves for later in 2022, while it added that near-term global oil inventories are low and expected to continue declining maybe through Q1 next year. Over to metals, spot gold and silver have fallen victim to the firmer Dollar, with spot gold giving up its overnight gains and meandering around USD 1,750/oz (vs high 1760/oz) while spot silver briefly dipped under USD 22.50/oz (vs high 22.73/oz). Turning to base metals, China announced another round of copper, zinc and aluminium sales from state reserves – with amounts matching the prior sales. LME copper remains within a tight range, but LME tin is the outlier as it gave up the USD 35k mark earlier in the session. Finally, the electricity crunch in China has seen thermal coal prices gain impetus amid tight domestic supply, reduced imports and increased demand.

US Event Calendar

  • 8:30am: Aug. Cap Goods Ship Nondef Ex Air, est. 0.5%, prior 0.9%
  • 8:30am: Aug. Cap Goods Orders Nondef Ex Air, est. 0.4%, prior 0.1%
  • 8:30am: Aug. -Less Transportation, est. 0.5%, prior 0.8%
  • 8:30am: Aug. Durable Goods Orders, est. 0.6%, prior -0.1%
  • 10:30am: Sept. Dallas Fed Manf. Activity, est. 11.0, prior 9.0

Central Banks

  • 8am: Fed’s Evans Speaks at Annual NABE Conference
  • 9am: Fed’s Williams Makes Opening Remarks at Conference on…
  • 12pm: Fed’s Williams Discusses the Economic Outlook
  • 12:50pm: Fed’s Brainard Discusses Economic Outlook at NABE Conference

DB’s Jim Reid concludes the overnight wrap

Straight to the German elections this morning where unlike the Ryder Cup the race was tight. The centre-left SPD have secured a narrow lead according to provisional results, which give them 25.7% of the vote, ahead of Chancellor Merkel’s CDU/CSU bloc, which are on 24.1%. That’s a bit narrower than the final polls had suggested (Politico’s average put the SPD ahead by 25-22%), but fits with the slight narrowing we’d seen over the final week of the campaign. Behind them, the Greens are in third place, with a record score of 14.8%, which puts them in a key position when it comes to forming a majority in the new Bundestag, and the FDP are in fourth place currently on 11.5%.

Although the SPD appear to be in first place the different parties will now enter coalition negotiations to try to form a governing majority. Both Olaf Scholz and the CDU’s Armin Laschet have said that they will seek to form a government, and to do that they’ll be looking to the Greens and the FDP as potential coalition partners, since those are the most realistic options given mutual policy aims. So the critical question will be whether it’s the SPD or the CDU/CSU that can convince these two to join them in coalition. On the one hand, the Greens have a stronger policy overlap with the SPD, and governed with them under Chancellor Schröder from 1998-2005, but the FDP seems more in line with the Conservatives, and were Chancellor Merkel’s junior coalition partner from 2009-13.  So it’s likely that the FDP and the Greens will talk to each other before talking to either of the two biggest parties.

For those wanting more information, our research colleagues in Frankfurt have released a post-election update (link here) on the results and what they mean. An important implication of last night’s result is that (at time of writing) it looks as though a more left-wing coalition featuring the SPD, the Greens and Die Linke would not be able for form a majority in the next Bundestag. So the main options left are for the FDP and the Greens to either join the SPD in a “traffic light” coalition or instead join the CDU/CSU in a “Jamaica” coalition. The existing grand coalition of the SPD and the CDU/CSU would actually have a majority as well, but both parties have signalled that they don’t intend to continue this. That said, last time in 2017, a grand coalition wasn’t expected after that result, and there were initially attempts to form a Jamaica coalition. But once those talks proved unsuccessful, discussions on another grand coalition began once again.

In terms of interesting snippets, this election marks the first time the SPD have won the popular vote since 2002, which is a big turnaround given that the party were consistently polling in third place over the first half of this year. However, it’s also the worst ever result for the CDU/CSU, and also marks the lowest combined share of the vote for the two big parties in post-war Germany, which mirrors the erosion of the traditional big parties we’ve seen elsewhere in continental Europe. Interestingly, the more radical Die Linke and AfD parties on the left and the right respectively actually did worse than in 2017, so German voters have remained anchored in the centre, and there’s been no sign of a populist resurgence. This also marks a record result for the Greens, who’ve gained almost 6 percentage points relative to four years ago, but that’s still some way down on where they were polling earlier in the spring (in the mid-20s), having lost ground in the polls throughout the final weeks of the campaign.

Markets in Asia have mostly started the week on a positive note, with the Hang Seng (+0.28%), Nikkei (+0.04%), and the Kospi (+0.25%) all moving higher. That said, the Shanghai Comp is down -1.30%, as materials (-5.91%) and industrials (-4.24%) in the index have significantly underperformed, which comes amidst power curbs in the country. In the US and Europe however, futures are pointing higher, with those on the S&P 500 up +0.37%, and those on the DAX up +0.51%.

Moving onto another big current theme, all the talk at the moment is about supply shocks and it’s not inconceivable that things could get very messy on this front over the weeks and months ahead. However, I think the discussion on supply in isolation misses an important component and that is demand. In short we had a pandemic that effectively closed the global economy and interrupted numerous complicated supply chains. The global authorities massively stimulated demand relative to where it would have been in this environment and in some areas have created more demand than there would have been at this stage without Covid. However the supply side has not come back as rapidly. As such you’re left with demand outstripping supply. So I think it’s wrong to talk about a global supply shock in isolation. It’s not as catchy but this is a “demand is much higher than it should be in a pandemic with lockdowns, but supply hasn’t been able to fully respond” world. If the authorities hadn’t responded as aggressively we would have plenty of supply for the demand and a lot of deflation. Remember negative oil prices in the early stages of the pandemic. So for me every time you hear the phrase “supply shock” remember the phenomenal demand there is relative to what the steady state might have been.

This current “demand > supply” at lower levels of activity than we would have had without covid is going to cause central banks a huge headache over the coming months. Should they tighten due to what is likely to be a prolonged period of higher prices than people thought even a couple of months ago or should they look to the potential demand destruction of higher prices? The risk of a policy error is high and the problem with forward guidance is that markets demand to know now what they might do over the next few months and quarters so it leaves them exposed a little in uncertain times. This problem has crept up fast on markets with an epic shift in sentiment in the rates market after the BoE meeting Thursday lunchtime. I would say they were no more hawkish than the Fed the night before but the difference is that the Fed are still seemingly at least a year from raising rates and a lot can happen in that period whereas the BoE could now raise this year (more likely February). That has focused the minds of global investors, especially as Norway became the first central bank among the G-10 currencies to raise rates on the same day. Towards the end of this note we’ll recap the moves in markets last week including a +15bps climb in US 10yr yields in the last 48 hours of last week.

One factor that will greatly influence yields over the week ahead is the ongoing US debt ceiling / government shutdown / infrastructure bill saga that is coming to a head as we hit October on Friday – the day that there could be a partial government shutdown without action by the close on Thursday. It’s a fluid situation. So far the the House of Representatives has passed a measure that would keep the government funded through December 3, but it also includes a debt ceiling suspension, so Republicans are expected to block this in the Senate if it still includes that.

The coming week could also see the House of Representatives vote on the bipartisan infrastructure bill (c.$550bn) that’s already gone through the Senate, since Speaker Pelosi had previously committed to moderate House Democrats that there’d be a vote on the measure by today. She reaffirmed that yesterday although the timing may slip. However, there remain divisions among House Democrats, with some progressives not willing to support it unless the reconciliation bill also passes. In short we’ve no idea how this get resolved but most think some compromise will be reached before Friday. Pelosi yesterday said it “seems self-evident” that the reconciliation bill won’t reach the $3.5 trillion hoped for by the administration which hints at some compromise. Overall the sentiment has seemingly shifted a little more positively on there being some progress over the weekend.

From politics to central banks and following a busy week of policy meetings, there are an array of speakers over the week ahead. One of the biggest highlights will be the ECB’s Forum on Central Banking, which is taking place as an online event on Tuesday and Wednesday, and the final policy panel on Wednesday will include Fed Chair Powell, ECB President Lagarde, BoE Governor Bailey and BoJ Governor Kuroda. Otherwise, Fed Chair Powell will also be testifying before the Senate Banking Committee on Tuesday, alongside Treasury Secretary Yellen, and on Monday, ECB President Lagarde will be appearing before the European Parliament’s Committee on Economic and Monetary Affairs as part of the regular Monetary Dialogue. There are lots of other Fed speakers this week and they can add nuances to the taper and dot plot debates.

Finally on the data front, there’ll be further clues about the state of inflation across the key economies, as the Euro Area flash CPI estimate for September is coming out on Friday. Last month’s reading showed that Euro Area inflation rose to +3.0% in August, which was its highest level in nearly a decade. Otherwise, there’s also the manufacturing PMIs from around the world on Friday given it’s the start of the month, along with the ISM reading from the US, and Tuesday will see the release of the Conference Board’s consumer confidence reading for the US as well. For the rest of the week ahead see the day-by-day calendar of events at the end.

Back to last week now and the highlight was the big rise in global yields which quickly overshadowed the ongoing Evergrande story. Bonds more than reversed an early week rally as yields rose for a fifth consecutive week. US 10yr Treasury yields ended the week up +8.9bps to finish at 1.451% – its highest level since the start of July and +15bps off the Asian morning lows on Thursday. The move saw the 2y10y yield curve steepen +4.5bps, with the spread reaching its widest point since July as well. However, at the longer end of the curve the 5y30y spread ended the week largely unchanged after a volatile week. It was much flatter shortly following the FOMC and steeper following the BoE. Bond yields in Europe moved higher as well with the central bank moves again being the major impetus especially in the UK. 10yr gilt yields rose +7.9bps to +0.93% and the short end moved even more with the 2yr yield rising +9.4bps to 0.38% as the BoE’s inflation forecast and rhetoric caused investors to pull forward rate hike expectations. Yields on 10yr bunds rose +5.2bps, whilst those on the OATs (+6.3bps) and BTPs (+5.7bps) increased substantially as well, but not to the same extent as their US and UK counterparts.

While sovereign debt sold off, global equity markets recovered following two consecutive weeks of declines. Although markets entered the week on the back foot following the Evergrande headlines from last weekend, risk sentiment improved at the end of the week, especially toward cyclical industries. The S&P 500 gained +0.51% last week (+0.15% Friday), nearly recouping the prior week’s loss. The equity move was primarily led by cyclicals as higher bond yields helped US banks (+3.43%) outperform, while higher commodity prices saw the energy (+4.46%) sector gain sharply. Those higher bond yields led to a slight rerating of growth stocks as the tech megacap NYFANG index fell back -0.46% on the week and the NASDAQ underperformed, finishing just better than unchanged (+0.02). Nonetheless, with four trading days left in September the S&P 500 is on track for its third losing month this year, following January and June.

European equities rose moderately last week, as the STOXX 600 ended the week +0.31% higher despite Friday’s -0.90% loss. Bourses across the continent outperformed led by particularly strong performances by the IBEX (+1.28%) and CAC 40 (+1.04%).

There was limited data from Friday. The Ifo’s business climate indicator in Germany fell slightly from the previous month to 98.8 (99.0 expected) from 99.4 on the back a lower current assessment even though business expectations was higher than expected. In Italy, consumer confidence rose to 119.6 (115.8 expected), up just over 3pts from August and at its highest level on record (since 1995).

3A/ASIAN AFFAIRS

i)MONDAY MORNING/SUNDAY  NIGHT: 

SHANGHAI CLOSED DOWN 30.24 PTS OR .84%   //Hang Sang CLOSED UP 16.62 PTS OR 0.07%/The Nikkei closed DOWN 8.75 PTS OR 0.03%    //Australia’s all ordinaires CLOSED UP 0.54%

/Chinese yuan (ONSHORE) closed DOWN TO 6.4626  /Oil UP TO 75.05 dollars per barrel for WTI and UP TO 79.15 for Brent. Stocks in Europe OPENED ALL GREEN   /ONSHORE YUAN CLOSED  DOWN AGAINST THE DOLLAR AT 6.4626. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4659/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

 

3 a./NORTH KOREA/ SOUTH KOREA

/NORTH KOREA//SOUTH KOREA

 
end

b) REPORT ON JAPAN

JAPAN/COVID/

 
 
 

3 C CHINA

CHINA

After Evergrande, now we witness another large Chinese property developer Sunac run in financial trouble.

“We Face Huge Pressure” – China’s Developer Cash Crunch Spreads To Sunac

 
SUNDAY, SEP 26, 2021 – 11:00 PM

By Sofia Horta e Costa, Bloomberg markets commentator and analyst, who follows up on our Friday article “The Housing Market Is Almost Frozen” – An Even Bigger Problem Emerges For China” in which we discussed the spread of Evergrande’s contagion to Sunac

Sunac has become the latest Chinese developer to run into liquidity issues, underscoring the challenging environment for the industry as the nation’s property slowdown deepens.

The Hong Kong-listed real estate firm asked authorities in the city of Shaoxing for assistance after local housing curbs affected sales at one of the company’s projects, according to a letter from a subsidiary seen by Bloomberg. The market is almost frozen, the company said in the letter, addressing the local government. “We face huge pressure.”

Sunac’s plea for help shows the urgency of the cash crunch affecting the country’s indebted developers as the central government maintains rules to cut leverage in the industry and cool housing activity. China’s home prices are at risk of “meaningful downside” regardless of what happens to Evergrande, Citigroup analysts wrote in a recent note.

Sunac’s dollar bonds slumped on Friday after the letter circulated among credit traders, with the 5.95% note due 2024 dropping to the lowest price on record. Sunac has the third-biggest weighting on a Bloomberg index of Chinese high yield dollar bonds, after Kaisa and a riskier note sold by ICBC this month.

Sunac’s shares have slumped 50% this year, cutting the wealth of billionaire founder and chairman Sun Hongbin. He had a 44% shareholding in the company as of June, according to the data compiled by Bloomberg. The Tianjin-based business reported revenue of 230.6 billion yuan ($33 billion) in 2020.

The property market fallout is hurting companies in a stronger financial position than Evergrande. Sunac, which has high speculative-grade ratings at the three global credit risk accessors, has about half the liabilities of its larger peer Evergrande. Sunac complies with two of China’s debt metrics known as the three red lines, and it’s looking to sell assets including its indoor ski parks business to raise cash.

The Sunac group as a whole has “run into big hurdles and difficulties in terms of cash flow and liquidity,” it said in the letter.

end

Now China may be experiecing a power supply shock

(zerohedge)

Power Supply Shock Looms: “Global Markets Will Feel The Pinch Very Soon” Of China’s Next Crisis

 
 
SUNDAY, SEP 26, 2021 – 08:30 PM

Distracted by the ‘grandness’ of the collapse of China’s property development market, many have missed the fact that China faces a crisis that could directly hit Asia’s economy just as hard as a financial collapse – a nationwide power supply shock.

After ramping up its coal-based power production earlier in the year, it appears Beijing has suddenly grown a conscience over its emissions and the ‘average joe’ could be about to feel the pain of that decision.

As Bloomberg reports, the crackdown on power consumption is being driven by rising demand for electricity and surging coal and gas prices as well as strict targets from Beijing to cut emissions.

It’s coming first to the country’s mammoth manufacturing industries: from aluminum smelters to textiles producers and soybean processing plants, factories are being ordered to curb activity or – in some instances – shut altogether.

“With market attention now laser-focused on Evergrande and Beijing’s unprecedented curbs on the property sector, another major supply-side shock may have been underestimated or even missed,” Nomura Holding Inc. analysts including Ting Lu warned in a note, predicting China’s economy will shrink this quarter.

As a reminder, China pollutes more than the US and all developed countries combined

More problematic for Greta and her pals, between the years 2000 and 2020, the amount of electricity generated by burning coal increased more than four-fold in China, hitting around 4,600 terrawatt hours in the past year.

Infographic: China’s Energy Demand Sees Coal and Renewables Soar | Statista

You will find more infographics at Statista

As the scene below suggests, this is not the first time China has faced winter power demand surges (which prompted many to turn to diesel generators to plug the shortages of power from the electricity grid).

However, this year is different.

The danger is that, as Zeng Hao, chief expert at consultancy Shanxi Jinzheng Energy, warns: government policies will significantly limit the energy industry’s potential to increase production to meet the demand increase.

2021’s worsening power crunch in China reflects three specific factors:

1) Extremely tight energy supply globally (that’s already seen chaos engulf markets in Europe);

2) The economic rebound from COVID lockdowns that has boosted demand from households and businesses (as lower investment by miners and drillers constrains production); and

3) President Xi Jinping tries to ensure blue skies at the Winter Olympics in Beijing next February (showing the international community for the first time that he’s serious about de-carbonizing the economy).

Simply put, it is the third factor – which is all of its own making – that has raised the risk of a severe shortage of coal and gas – used to heat homes and power factories – this winter; and more ominously, expectations of the need to ration power to those deemed worthy.

“The power curbs will ripple through and impact global markets,” Nomura’s Ting said.

“Very soon the global markets will feel the pinch of a shortage of supply from textiles, toys to machine parts.”

As we noted earlier in the yearChina needs to shutter 600 coal plants to meet its emissions goals of net zero greenhouse emissions by 2060.

If Xi’s recent actions in the interests of “common prosperity” are really about forestalling social unrest, we suspect his commitment to meeting self-imposed carbon emissions targets may quickly evaporate as the Chinese people are unlikely to stand sustained black-outs for long without upheaval.

end

CHINA/

It seems that the diagnosis that the 3 Gorges is not producing electivity is correct;

We are now seeing widespread unexpected blackouts in China. Power company warns tha this is the new normal.

(zerohedge) 

Millions Of Chinese Residents Lose Power After Widespread, “Unexpected” Blackouts; Power Company Warns This Is “New Normal”

 
MONDAY, SEP 27, 2021 – 12:40 PM

Just yesterday we warned that a “Power Supply Shock Looms” as the energy crisis gripping Europe – and especially the UK – was set to hammer China, and just a few hours later we see this in practice as residents in three north-east Chinese provinces experienced unannounced power cuts as the electricity shortage which initially hit factories spreads to homes.

People living in Liaoning, Jilin and Heilongjiang provinces complained on social media about the lack of heating, and lifts and traffic lights not working.

Local media in China – which is highly dependent on coal for power – said the cause was a surge in coal prices leading to short supply. As shown in the chart below, Chinese thermal coal futures have more than doubled in price in the past year.

There are several reasons for the surge in thermal coal, among them already extremely tight energy supply globally (that’s already seen chaos engulf markets in Europe); the sharp economic rebound from COVID lockdowns that has boosted demand from households and businesses; a warm summer which led to extreme air condition consumption across China; the escalating trade spat with Australia which had depressed the coal trade and Chinese power companies ramping up power purchases to ensure winter coal supply. Then there is Beijing’s pursuit of curbing carbon emissions – Xi Jinping wants to ensure blue skies at the Winter Olympics in Beijing next February, showing the international community that he’s serious about de-carbonizing the economy – that has led to artificial bottlenecks in the coal supply chain.

Whatever the reason, it’s just getting started: as BBC reported, one power company said it expected the power cuts to last until spring next year, and that unexpected outages would become “the new normal.” Its post, however, was later deleted.

At first, the energy shortage affected factories and manufacturers across the country, many of whom have had to curb or stop production in recent weeks. In the city of Dongguan, a major manufacturing hub near Hong Kong, a shoe factory that employs 300 workers rented a generator last week for $10,000 a month to ensure that work could continue. Between the rental costs and the diesel fuel for powering it, electricity is now twice as expensive as when the factory was simply tapping the grid.

“This year is the worst year since we opened the factory nearly 20 years ago,” said Jack Tang, the factory’s general manager. Economists predicted that production interruptions at Chinese factories would make it harder for many stores in the West to restock empty shelves and could contribute to inflation in the coming months.

Three publicly traded Taiwanese electronics companies, including two suppliers to Apple and one to Tesla, issued statements on Sunday night warning that their factories were among those affected. Apple had no immediate comment, while Tesla did not respond to a request for comment.

But over the weekend residents in some cities saw their power cut intermittently as well, with the hashtag “North-east electricity cuts” and other related phrases trending on Twitter-like social media platform Weibo.

The extent of the blackouts is not yet clear, but nearly 100 million people live in the three provinces.

In Liaoning province, a factory where ventilators suddenly stopped working had to send 23 staff to hospital with carbon monoxide poisoning.

There were also reports of some who were taken to hospital after they used stoves in poorly-ventilated rooms for heating, and people living in high-rise buildings who had to climb up and down dozens of flights of stairs as their lifts were not functioning. Some municipal pumping stations have shut down, prompting one town to urge residents to store extra water for the next several months, though it later withdrew the advice.

One video circulating on Chinese media showed cars travelling on one side of a busy highway in Shenyang in complete darkness, as traffic lights and streetlights were switched off. City authorities told The Beijing News outlet that they were seeing a “massive” shortage of power.

Social media posts from the affected region said the situation was similar to living in neighboring North Korea.

The Jilin provincial government said efforts were being made to source more coal from Inner Mongolia to address the coal shortage.

As noted previously, power restrictions are already in place for factories in 10 other provinces, including manufacturing bases Shandong, Guangdong and Jiangsu.

Of course, a key culprit behind China’s shocking blackouts is Xi Jinping’s recent pledge that his country will reach peak carbon emissions within nine years. As a reminder, two-thirds of China’s electricity comes from burning coal, which Beijing is trying to curb to address climate change. While coal prices have surged along with demand, because the government keeps electricity prices low, particularly in residential areas, usage by homes and businesses has climbed regardless.

Faced with losing more money with each additional ton of coal they burn, some power plants have closed for maintenance in recent weeks, saying that this was needed for safety reasons. Many other power plants have been operating below full capacity, and have been leery of increasing generation when that would mean losing more money, said Lin Boqiang, dean of the China Institute for Energy Policy Studies at Xiamen University.

“If those guys produce more, it has a huge impact on electricity demand,” Professor Lin said, adding that China’s economic minders would order those three industrial users to ease back.

Meanwhile, even as it cracks down on conventional fossil fuels, China still does not have a credible alternative “green” source of energy. Adding insult to injury, various regions have been criticized by the government for failing to make energy reduction targets, putting pressure on local officials not to expand power consumption, the BBC’s Stephen McDonell reports.

And while the blackouts starting to hit household power usage are at most an inconvenience, if one which may soon result in even more civil unrest if these are not contained, a bigger worry is that the already snarled supply chains could get even more broken, leading to even greater supply-disruption driven inflation.

As Source Beijing reports, several chip packaging service providers of Intel and Qualcomm were told to shut down factories in Jiangsu province for several days amid what could be the worst power shortage in years.

The blackout is expected to affect global semiconductor supplies – which as everyone knows are already highly challenged – if the power cuts extend during winter.

The NYT confirms as much, writing today that the electricity shortage is starting to make supply chain problems worse. The sudden restart of the world economy has led to shortages of key components like computer chips and has helped provoke a mix-up in global shipping lines, putting in the wrong places too many containers and the ships that carry them.

Nationwide power shortages have prompted economists to reduce their estimates for China’s growth this year. Nomura, a Japanese financial institution, cut its forecast for economic expansion in the last three months of this year to 3 percent, from 4.4 percent.

It is not clear how long the power crunch will last. Experts in China predicted that officials would compensate by steering electricity away from energy-intensive heavy industries like steel, cement and aluminum, and said that might fix the problem. State Grid, the government-run power distributor, said in a statement on Monday that it would guarantee supplies “and resolutely maintain the bottom line of people’s livelihoods, development and safety.”

Maybe China should just blame bitcoin miners for the crisis to avoid public anger… alas, it can’t do that since it already banned them and drove most of its technological innovators out of the country.

 

end

 

4/EUROPEAN AFFAIRS

GERMANY
 
Along with the election of the Social Democrats (Scholtz) we see that this referendum passed:
(Mish Shedlock)
 
Comment from Robert H on this subject:

Fwd: Shocker! Crazy ‘Afforable Housing’ Referendum Passes In German Election | ZeroHedge

 

 
 
 
 
A sad landmark day in Germany, and for Europe. If apartments can be forced out of private hands into government ones, what stops the government for expanding its’ reach?
As Klaus says at the WEF, you will own nothing and be happy, under the “Great Reset”. Seems Germany is going down this road. Now, watch capital fly for safe havens and resulting in a lack of investment capital. And this is Germany having been the lead in growth in the EU. This also begs the question of inherent value of the Euro itself. One does imagine that the Euro has seen its’ day in the sun and will decline in value in the future. Astute capital will factor in lessened currency value in all asset investment potential.
People easily forget that under communism there is no innovation or incentive for individuals and consequently economy dies to be held together by tyranny

Shocker! Crazy ‘Affordable Housing’ Referendum Passes In German Election

 
MONDAY, SEP 27, 2021 – 09:10 AM

Authored by Mike Shedlock via MishTalk.com,

A referendum in Berlin requiring large apartment complex owners to sell their their units to the government passed by a large margin.

Affordable Housing Referendum

Please consider Berliners to Vote on Expropriating Housing From Powerful Landlords

After years of rising rent forcing many Berliners out of the city, activists led by Deutsche Wohnen & Co Enteignen (Expropriate Deutsche Wohnen, or DWE) received nearly 350,000 signatures from Berliners and managed to force a vote on whether to allow the expropriation of housing owned by landlords with over 3,000 units on the Sept. 26 election ballot. 

While the movement to expropriate large real estate companies, who have made a fortune speculating on the housing market and causing rent increases over the past decade, has been active in Berlin for years, ironically it was the German Supreme Court’s ruling to overturn Berlin’s Mietendeckel (rent cap) law that was the catalyst for the current referendum. While this law would not impose a rent cap, DWE volunteer Dennis Rahmel thinks that it would still have a dramatic impact on rent prices in the city. “Prices would go down in the expropriated apartments, which would change the rent not [just for the socialized apartments] but for other people as well, no matter if they were in public apartments or not,” said Rahmel. “It would also mean that society could show that there is some power against investors, against big capital, and that housing is a human right… it would be a big sign for other cities, too.”

Kim Meyer with Bündnis gegen Verdrängung und Mietenwahnsinn Berlin (The Berlin Alliance against Displacement and Rent Madness) thinks that it will also discourage the kind of rampant speculation (and subsequent rent hikes) that real estate markets around the world have seen.  

While litigation, such as the kind that met the rent cap law, is likely to challenge this referendum if it passes, it is less likely to be successful because the German constitution specifically allows for such appropriation. “[Unlike] Mietendeckel, socialisation is a constitutional right in Germany. In fact, many houses were already expropriated (and afterwards destroyed) in order to build a motorway around the city,” said Meyer.

Meyer and other organizers think that the reason so many of the city’s establishment have come out against the law is because of its possible effectiveness in solving the housing crisis—not only in Berlin, but as an example to cities all over the world. “It might inspire people to question the current sellout of their land and cities to global investors and to [investigate] compulsory purchases of necessities by their administrations, like housing, water wells, power plants, et cetera, and to fight for their human right to housing,” said Meyer.

The Vote

Yes 56.9%, No 39%

The vote was nonbinding but human rights activists celebrate.

Housing Activists Celebrate Victory in Germany

Affordable Nonsense

The idea that government can create affordable housing at will is of course nonsense. 

The proposal, if followed (and it appears it started in advance), will either result in disrepair of property, higher taxes, or both.

Despite the obvious flaws, AOC and the US Progressives are sure to latch on to this idea. However, I doubt such an action in the US would ever pass constitutional muster.

 
end
Election results:  still in limbo
(zerohedge)

Germany In Limbo Post Elections: Kingmaker Greens & FDP To Decide “Jamaica Or Traffic Light”

 
MONDAY, SEP 27, 2021 – 10:20 AM

Germany’s Social Democrats edged fractionally ahead of the Christian Democrats in a tight election, which while a catastrophic turnout for Merkel’s bloc was modestly stronger than polls indicated heading into the elections. The center-left party took 25.7% of votes, versus 24.1% for its center-right rival, provisional results show. As Bloomberg notes, the country now faces a period of horse trading and coalition building to determine the next chancellor during which Angela Merkel will remain in office.

Taking a closer look at the outcome and the known unknowns, we know for example that a left-leaning coalition falling short of a majority while an SPD-led Traffic Light and a CDU-led Jamaica coalition (both with the Greens and the FDP) are the leading options for the next German government. According to Goldman, talks for both options will likely proceed in parallel, but the Greens and FDP have indicated that they will also hold bilateral talks as joint kingmakers. These will be key to watch. Efforts will be made to reach an agreement before Christmas and see a slight advantage for the SPD, although the outcome is difficult to call.

Main points:

1. The outcome was much tighter than implied by the polls. The social democratic SPD is currently projected to come first with close to 26% and the CDU/CSU trailing by around 1.5 percentage point. As expected, the Greens will be the third-largest party (around 14%) ahead of the liberal democratic FDP (slightly below 12%). The Left party is currently projected to clear the 5% threshold by a slim margin. Should it fail to do so it could drop out of parliament as it is unlikely that three candidates will win a direct mandate.

2. A left-leaning red-green-red government is short of a majority by slightly more than 1% of seats on current predictions. SPD-candidate Scholz and CDU-candidate Laschet both distanced themselves from the theoretical option of another cooperation, for example in a ‘grand coalition’. This leaves an SPD-led Traffic Light and a CDU-led Jamaica coalition, both with the Greens and FDP, as the leading options for the next German government.

3. Both the SPD and the CDU/CSU have declared that they will seek to form a government. The SPD’s bargaining position is likely to be significantly weaker without the outside option of a left government. This would make the coalition negotiation process more difficult and lengthy despite intentions to reach an agreement before Christmas.

4. FDP chief Lindner and the co-heads of the Greens Baerbock and Habeck have indicated that they could hold preliminary talks to seek compromises independent of negotiation offers by the SPD and the CDU/CSU. These talks between the joint kingmakers will be the key development to watch in coming weeks. The choice between a Traffic Light and a Jamaica coalition is a close call but Goldman sees a slight advantage for the SPD especially in light of CDU/CSU’s historic collapse.

Next, an election cheat sheet courtesy of Bloomberg showing how the various potential coalitions would impact Europe’s various markets.

Finally, courtesy of TheLocal.de, a bigger picture primer of what’s going on:

After the centre-left Social Democrats edged victory in the German federal elections, furious coalition talks are getting underway. Here’s what you need to know about Germany’s three possible coalition governments.

What exactly is going on in Germany?

Unlike the United Kingdom or United States of America where the winner takes all, Germany’s elections are far from over after the vote takes place.

Due to its proportional voting system, the largest party must secure 50 percent or more of the vote to govern by itself. Since parties rarely managed to achieve this feat, they’re generally forced to gather round the negotiation table to try and thrash out coalition agreements with those who can help them secure a majority.

This is precisely the case after Sunday’s nail-biting elections. After exit polls put the two big parties neck-and-neck in the early evening, the SPD finally squeaked through as the largest party on 25.7 percent of the vote to the CDU/CSU’s 24.1 percent.

Now, both are claiming their right to govern.

Speaking to his supporters as the vote count rolled in, Olaf Scholz declared that people had voted “a change in the government”, adding that he had a clear mandate to become the next Chancellor. Meanwhile, a bruised Armin Laschet told his battle-weary troops that CDU and its Bavarian sister party, the CSU, “will do everything we can to form a German government”.

As Tagesschau described it, this is an election “with two possible chancellors and two kingmakers”. What matters now is how those two potential chancellors – either the SPD’s Olaf Scholz or CDU’s Armin Laschet – approach the coming weeks as they enter coalition agreements. In many ways, it all depends how much they are willing to compromise.

The SPD may be buoyed by success as they enter this game of poker with the other parties – but the truth is, they could still come out empty handed.

Here are the three possible scenarios to look out for.

The ‘Traffic Light’ coalition: SPD, Greens and FDP

Named after the red (SPD), yellow (FDP) and green colours of its constituent parties, a ‘traffic light’ coalition – or Ampel in German – is one possible option for a future government.

After the final vote count, the Social Democrats had secured 206 seats of a possible 735 in parliament. If you add the Greens’ 118 seats and the liberal FDP’s 92 seats, an SPD-led coalition of this sort would have a total of 416 seats – enough to form a very comfortable majority.

So, what’s the problem? Well, put bluntly: the FDP.

Ahead of the September 26th elections, both the Greens’ Annalena Baerbock and the SPD’s Olaf Scholz made no secret of the fact that they would ideally like to go into a coalition with one another – and the message hasn’t changed.

Speaking to ARD’s Morning Magazine on Monday, Michael Kellner, the Greens’ executive director, emphasised the amount of overlap the party had with the SPD. They agree on policies like easing the tax burden on lower and middle-income earners while taxing higher earners more, introducing a €12 minimum wage, investing heavily in eco-friendly infrastructure, and switching to a more inclusive health insurance model.

The Greens and SPD have been flirting over a potential coalition for some time. Could the FDP derail their dreams? Photo: picture alliance/dpa | Kay Nietfeld

The FDP is on board with none of those things – preferring market innovation to state intervention.

In fact, the liberals’ leader, Christian Lindner, has been saying throughout the election that he “can’t imagine” what kind of offer the SPD could make his party that wouldn’t also alienate those on the left within the Social Democrats. After the initial election results were in, he reiterated his preference for a CDU-led coalition so many times his aides may have been tempted to press the ‘reset’ button.

However, the situation isn’t entirely hopeless: all three Ampel parties agree on a more permissive approach to immigration, including allowing dual citizenship in one way or another. Experienced negotiator Scholz is known for taking the centre line. And Lindner said on Sunday night that he wouldn’t be ruling out talks with the SPD and Greens on a potential coalition agreement, though he’s keen to bend the ear of the Greens before talking to either of the major parties.

One thing’s clear, however: any ‘traffic light’ would have to show a green light to enough of the FDP’s liberal economic and low-tax policies for this type of government to work. If the state of Rhineland-Palatinate, where there’s also a traffic-light coalition, is anything to go by, it could see each of the parties playing to its strengths, with the FDP taking the reigns of the country’s finances or business sector while the Greens take charge of the environmental ministry.

The ‘Jamaica’ coalition: CDU/CSU, Greens and FDP

According to a survey of political analysts ahead of the election, a ‘Jamaica’ coalition that combines the black, green and yellow colours of the CDU/CSU, Greens and FDP is the most likely option for Germany’s next government. But political analysts aren’t always renowned for their accurate predictions.

Nevertheless, with the CDU/CSU’s 196 seats, the Greens’ 118 and the FDP’s 92, the coalition named after the Jamaican flag would have a pretty healthy 406 seats in parliament. And early indications suggest that the FDP are very keen on this constellation.

Speaking to ZDF after the early vote projections on Sunday night, the FDP’s Lindner made no secret about his coalition preference: “I’ll say after the election what I said before it,” he told his interviewer. “I see the most internal agreement in a Jamaica coalition.”

With their pro-business, low-tax policies, the CDU/CSU and FDP have a lot in common. In fact, the liberals were the junior coalition partner to the conservatives way back in 2009-2013, before the former lost all their seats and ended up having a four-year hiatus from parliament.

All of which means the sticking point here could well be the Greens. How much will Annalena Baerbock’s party be willing to compromise on policies like going climate neutral by 2035, investing in energy grants and social support for families, and hiking up the minimum wage?

It’s also worth remembering that, when this coalition was on the cards back in 2017, the FDP walked out at the last minute citing disagreements over migration and energy policy, leaving the country to endure yet another Grand Coalition. What promises will the weakened Union have to make this time around to keep both the liberals and the Greens around the negotiating table? Watch this space…

The Grand Coalition: SPD and CDU/CSU

If the SPD’s Olaf Scholz is to be believed, his ultimate goal has always been to put the CDU/CSU back in opposition where they belong. If the CSU are to be believed, there’s no way in Helles that the CDU and CSU can contemplate being a junior coalition partner in another GroKo.

The question is: are both of them to be believed?

 

Neither the SPD nor CDU are keen on another Grand Coalition – but they haven’t ruled it out. Photo: picture alliance/dpa | Arne Dedert

There’s no doubt that both parties are tired of the endless compromises of the Grand Coalition, but with 402 seats between them, the maths of an SPD and CDU/CSU partnership do add up.

With limited options on the table, it would only take a breakdown of the fragile talks between the FDP and Greens breaking down to put Germany back where it started: in GroKo town. If that happens, Scholz would have slightly more leverage to enforce SPD policies as the larger coalition partner, but it would nonetheless be a distinct continuation of the status quo. And many voters would not be happy.

When will we know?

In the ‘elephants’ round’ discussions following the provision results on Sunday, both Scholz and Laschet said they were determined to form a government by Christmas.

The Düsseldorf political scientist Stefan Marschall told DPA that he thinks the coalition negotiations could drag on until the end of December, but “that the parties will make an effort to give us clarity” by then. 

Politicians are keen to give the country and its allies the stability and certainty in desperately needs. And, on a more selfish level, both Laschet and Scholz want to be the first man to declare that they’ve successful got the support they need to become the next Chancellor after Merkel.

Nevertheless, the coalition agreements are set to be a hard nut to crack, so it seems fitting that we’re likely to be enjoying festive performances of the Nutcracker before we have the first inkling of who our next Chancellor will be.  

end

UK/SUPPLY PROBLEMS/GOODS SHORTAGE

Hoarding of gasoline begins in the uK! reason: they fired all the drivers who refused to the take the jab.

(zerohedge)

Panic Hoarding Gasoline Begins As UK Plunges Towards “Winter Of Discontent”

 
SATURDAY, SEP 25, 2021 – 08:45 AM

One day after oil giant BP warned about rationing gasoline and diesel at UK service stations, Brits began to panic buy fuel as the government tried to calm fears. 

Lines of cars and trucks are spilling over into the streets at service stations across the country. A BP spokesperson said Thursday that a truck driver shortage has resulted in its inability to transport fuel from refineries to its network of service stations. These words spooked the public, which could cause a more severe shortage due to the hoarding. 

The scenes of long lines at gas stations bring back memories of the 1973 Opec Oil Crisis, the 2000 fuel shortage, and the virus pandemic disruptions amid fears the country is diving headfirst into a 1970s-style “winter of discontent” of shortages and socio-economic distress. 

On Friday afternoon, Transport Secretary Grant Shapps told Brits on Sky News that there was no fuel shortage and for “everyone to carry on as normal.” His soothing words weren’t enough to stop the buying panic, which is expected to continue into the weekend. 

Gasoline and diesel shortages will only stoke higher prices amid an expanding energy crisis that has resulted in another shortage: natural gas. This has caused power prices to erupt and disrupted chemical plants that halted fertilizer production, and has caused headaches for major food supply chains. Brits are also panic hoarding food

The Daily Mail provides a list of issues that threatens a winter of discontent: 

1. A shortage of natural gas causing a spike in gas bills for millions of Britons, along with the possibility of dozens of small energy firms going bust; 

2. However ministers say ‘there is question of the lights going out, of people being unable to heat their homes. There will be no three-day working week, or a throwback to the 1970s’; 

3. A shortage of natural gas leading to the closure of fertilizer plants, which produce the CO2 used in fizzy drinks and the meat industry; 

4. The Government has since agreed a deal with fertilizer firms to restart a factory in a bid to maintain CO2 production; 

5. A lorry driver shortage which is crippling the UK’s transport industry, leaving to empty shelves and slow delivery times; 

6. Bosses say this could impact both of Christmas dinners and have an impact on the number of toys on the shelves; 

7. Now bosses of major fuel firms have warned they will have to start shutting petrol stations because there are not enough lorry drivers to effectively distribute to all of its petrol stations;

8. It comes after the Bank of England warned on Thursday that surging household energy bills would send the cost of living spiralling by more than 4 percent this winter – the highest rate of growth for a decade

Worst still, there are now fears that shortages could bite households in the run-up to Christmas.  The classic Christmas dinner could be decimated, with turkey, pigs in blankets, potatoes and brussel sprouts all at risk.

END

Panic-Buying Could Leave 90% Of UK Gas Stations Dry; BoJo Considers Calling In Army To Resupply

 
MONDAY, SEP 27, 2021 – 07:50 AM

UK politicians panic as similarities to the 1970s-style “winter of discontent” of shortages and socio-economic distress have already materialized. Prime Minister Boris Johnson requested the Army to begin fuel deliveries to petrol stations. 

According to Reuters, 90% of petrol stations could run dry across major metro areas on Monday after buying panic accelerated the crisis of low fuel supplies due to a shortage of truck drivers. 

The buying panic began shortly after BP plc, a multinational oil and gas company, warned last Thursday that a shortage of truck drivers is inhibiting the oil company’s ability to transport fuel from refineries to its network of service stations. By Saturday, lines of cars spilled over into the streets at petrol stations and continued into the new week. The shortage has been made worse because of hoarding. 

The Petrol Retailers Association (PRA), which oversees about 5,500 independent petrol stations, said about two-thirds had run dry by Sunday night, and the Reuters figure is 90% by Monday. 

PRA chairman, Brian Madderson, said hoarding had worsened the crisis as it may take weeks to restock fuel supplies in the country. He said the government’s plan to increase heavy goods vehicle (HGV) drivers would not be a quick fix. 

Speaking with BBC Radio 4’s The World This Weekend, Madderson warned:  

“I’ve talked to a lot of our members… They serve the main roads, the rural areas, the urban roads, and anywhere in between 50% and 90% of their forecourts are currently dry, and those that aren’t dry are partly dry and running out soon.”

In a move to boost HGV drivers, the government is considering calling the military to transport fuel to petrol stations. The country needs at least 5,000 more HGV drivers after it lost drivers post-Brexit and after the COVID-19 pandemic, which adds even more woes not just to the fuel supply chain network but has also disrupted food supplies at supermarkets

The scenes playing out in the UK this weekend are spilling over into the new week. They are reminiscent of the US panic buying in May when the Colonial Pipeline ransomware attack created shortages at petrol stations.

end 

UK/EU FERTILIZER SHORTAGES//NATURAL GAS PRICES INCREASES

Surging natural gas prices is making the production of ammonia uneconomical

(zerohedge)

UK’s Fertilizer Crisis Spreads To EU After Another Firm Slashes Output

 
SATURDAY, SEP 25, 2021 – 09:55 AM

Europe’s energy crisis has claimed another victim, with Austrian fertilizer producer Borealis AG slashing the output of ammonia after the cost of the primary feedstock, natural gas, compresses margins in an industry already facing tight supplies, according to Bloomberg

Borealis’ ammonia-producing plant uses natural gas to make fertilizer. The high cost of natgas makes fertilizer uneconomical to make. This is yet another sign of deepening woes for the industry after the UK government said it would provide “limited financial support” to help CF Industries restart one of its fertilizer plants this week. 

The culprit behind surging natgas prices has been declining flows into Europe via Russia, though there are signs natgas shipments could increase in November. But that won’t alleviate high prices because stocks on the continent are well below average ahead of the winter season, indicating Europe’s energy crisis may drag on for months. 

Disruptions of ammonia supply and other fertilizers have had a significant impact on the production of carbon dioxide supply in the UK, sending the industry into a tizzy and rippling through food supply chains, such as slaughterhouses to packaging to carbonated drinks to dry ice production. 

Commodity analysts at CRU Group said half the continent’s ammonia capacity could be at risk due to dwindling production because of elevated natgas prices. Spot prices  of ammonia per ton in Western Europe have surged from around $225 per ton at the beginning of the virus pandemic to $700 per ton this month. 

Borealis’ reduction in ammonia production is a sign the fertilizer crisis continues to ripple across the continent. The company said Thursday it would analyze the situation” regarding its plants in Austria, France, and the Netherlands – not much detail was given. 

“This is an ongoing story. All the nitrogen producers in Europe will be reviewing what they do,” said Allan Pickett, head of analysis at IHS Markit’s fertilizer group, Fertecon. “With gas prices where they are, we would confidently expect that there will be significant pressure on many of the ammonia producers related to the fertilizer industry.”

Pickett said the fertilizer industry would remain under pressure as long as natgas prices remain high. There’s an increasing possibility that farmers may refuse to purchase fertilizer for the upcoming 2022 growing season because of high prices. 

Bloomberg Intelligence analyst Jason Miner said the move by Borealis suggests “they’re running close to margins; otherwise, they wouldn’t have shut down.” He warned that “other plants will shut down unless natural gas prices change.”

A perfect storm of events, such as declining Russian natgas into Europe, triggering an energy crisis that now bears down on food supply chains in the UK and possibly Europe, has the potential to create widespread disruptions. As for the 2022 growing season, farmers might become hesitant to plant with fertilizer prices at high levels.

 

end 

 

 

 

 
 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

IRAN//USA/YEMEN

 

Iran has surprise dialogue with the Saudi. Iran states that they will engage in nuclear talks very soon

(zerohedge)

Iran: Nuclear Talks To Resume “Very Soon”; Confirms Surprise Dialogue With Saudis On Yemen War

 
FRIDAY, SEP 24, 2021 – 05:40 PM

Despite fierce denunciations of the “US hegemon” for its using sanctions as a “new means of war” by Iranian President Ebrahim Raisi in his first international address before the UN General Assembly earlier in the week, Iran on Friday said it will return to Vienna nuclear negotiations “very soon” – but without giving a date.

This after repeat warnings from the Biden administration that its patience will only last so long, while blaming the Iranians for stalling in the wake of Raisi’s election. New Iranian Foreign Minister Hossein Amirabdollahian told a press briefing on Friday that “The Islamic Republic of Iran will return to the table of negotiations. We are reviewing the Vienna negotiations files currently and, very soon, Iran’s negotiations with the ‘four plus one’ countries will recommence.”

 

Via Shutterstock

Biden in his own speech before the UNGA said that he’s offering a full return to the deal “if Iran does the same”

Interestingly, and despite Raisi reported to be stacking his foreign ministry with ‘hardliners’ (in comparison to the Rouhani administration and former FM Javad Zarif), there were sideline conversations between the Iranians and Saudis at the UN meeting this week.

The dialogue appeared centered on Yemen, where Iran-backed Houthis are fighting the technologically superior Saudi military alliance:

Speaking on the sidelines of the U.N. General Assembly, the foreign minister also described conversations between Iranian and Saudi officials as “constructive” and he said Tehran had put forward dynamic proposals towards achieving peace in Yemen.

Meanwhile, Raisi’s newly appointed negotiating team is expected to hold a firmer line compared to the prior “moderates” under former president Rouhani:

A seasoned Iranian diplomat, who was a member of Iran’s nuclear negotiations team in the 2010s under President Mahmoud Ahmadinejad, says new appointments at the Foreign Ministry signal a tougher negotiating posture in nuclear talks.

Washington has in a slow, piecemeal way already relaxed some Trump-era sanctions on Iran, but it’s been Tehran’s consistent position that a restored JCPOA deal is not possible unless an immediate full rollback is in effect. 

 

end

Mystery fire at the IRGC research facility in Tehran

(zerohedge)

Fire At IRGC Research Facility In Tehran Injures 3 Revolutionary Guardsmen

 
SUNDAY, SEP 26, 2021 – 11:30 PM

A mysterious blaze broke out at one of Iran’s elite Revolutionary Guards (IRGC) research centers in the capital of Tehran on Sunday evening (local time), multiple international reports have said. 

Three IRGC members have been wounded in the fire, the cause of which is as yet unknown. Details as to its extend are also unknown – only that it was soon reported contained at that the injured were transported to a nearby hospital. 

 

Tehran file, source DreamsTime/National Geographic

Iran state TV quoted a statement from IRGC officials as confirming, “On Sunday evening a fire broke out in one of the IRGC … research centers in the west of Tehran. Three people were injured and the fire has been contained.”

The facility is located in western Tehran, and given the high security nature of IRGC locations, it’s unlikely that many details will be divulged. This naturally tends to lead to immediate speculation by observers about the possibility of an Israeli sabotage operation

Just days ago, it was revealed that top Israeli officials and the White House have resumed a ‘Plan B’ working group and intelligence sharing initiative focused on the Islamic Republic. The group is said to be planning ‘alternative’ actions against Iran should the currently stalled nuclear talks in Vienna fail.

This tends to be widely interpreted – at least from the Israeli side and in Israeli media – to mean clandestine operations involving sabotage and likely cyberattacks on Iranian nuclear facilities. Concerning the Sunday fire in Tehran, one Washington-based think tank analyst said“Oh the timing here is very interesting.”

In August Israeli Defense Minister Benny Gantz had hinted at possible ramped-up sabotage operations, which weren’t initially confirmed by the US side. Sounding threatening and ominous in statements which was a thinly veiled threat at military action, Gantz said at the time:

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

When Prime Minister Naftali Bennett was hosted for the first time at the White House in late August, both sides confirmed they would resume the secretive sessions, focused on intelligence planning and ‘alternate’ scenarios to jointly pursue of nuclear talks fail.

end

ISRAEL/Vaccine

Finally Israeli’s wake up!Last night on Dizengoff street.Tel Aviv

(Watson/SummitNews)

Watch: Israelis Rise-Up Against Vaxx Passports After Being Told More Shots Needed To Be Considered “Fully Vaccinated”

 
MONDAY, SEP 27, 2021 – 11:39 AM

Authored by Steve Watson via Summit News,

Protests have finally erupted in Israel as it has slowly dawned on people there that the goalposts for vaccine passports keep being shifted by the government.

It is now expected to be announced that at least FOUR vaccinations will be needed to be considered ‘fully vaccinated’ and able to engage in society.

Over the weekend marches took place in the streets of Tel Aviv against the so called ‘Green Pass’:

Predictably, the media labeled the protesters ‘right wing extremists’ and anti-vaxxers:

As we recently noted, despite over 61 per cent of its population being fully vaccinated and having implemented a vaccine passport system, the Israeli Health Ministry has expressed concern about the fact that a recent downtrend in COVID-19 infections is reversing, potentially surpassing any levels previously seen.

Israeli health minister Nitzan Horowitz was caught on a hot mic admitting that vaccine passports were primarily about coercing skeptical people to get the vaccine and not for medical reasons.

end

6.Global Issues

CORONAVIRUS UPDATE

This posted document has gone viral…

“Damn You To Hell, You Will Not Destroy America” – Here Is The ‘Spartacus COVID Letter’ That’s Gone Viral

 
MONDAY, SEP 27, 2021 – 12:00 AM

Via The Automatic Earth blog,

This is an anonymously posted document by someone who calls themselves Spartacus. Because it’s anonymous, I can’t contact them to ask for permission to publish. So I hesitated for a while, but it’s simply the best document I’ve seen on Covid, vaccines, etc. Whoever Spartacus is, they have a very elaborate knowledge in “the field”. If you want to know a lot more about the no. 1 issue in the world today, read it. And don’t worry if you don’t understand every single word, neither do I. But I learned a lot.

The original PDF doc is here: Covid19 – The Spartacus Letter

Hello,

My name is Spartacus, and I’ve had enough.

We have been forced to watch America and the Free World spin into inexorable decline due to a biowarfare attack. We, along with countless others, have been victimized and gaslit by propaganda and psychological warfare operations being conducted by an unelected, unaccountable Elite against the American people and our allies.

Our mental and physical health have suffered immensely over the course of the past year and a half. We have felt the sting of isolation, lockdown, masking, quarantines, and other completely nonsensical acts of healthcare theater that have done absolutely nothing to protect the health or wellbeing of the public from the ongoing COVID-19 pandemic.

Now, we are watching the medical establishment inject literal poison into millions of our fellow Americans without so much as a fight.

We have been told that we will be fired and denied our livelihoods if we refuse to vaccinate. This was the last straw.

We have spent thousands of hours analyzing leaked footage from Wuhan, scientific papers from primary sources, as well as the paper trails left by the medical establishment.

What we have discovered would shock anyone to their core.

First, we will summarize our findings, and then, we will explain them in detail. References will be placed at the end.

Summary:

  • COVID-19 is a blood and blood vessel disease. SARS-CoV-2 infects the lining of human blood vessels, causing them to leak into the lungs.

  • Current treatment protocols (e.g. invasive ventilation) are actively harmful to patients, accelerating oxidative stress and causing severe VILI (ventilator-induced lung injuries). The continued use of ventilators in the absence of any proven medical benefit constitutes mass murder.

  • Existing countermeasures are inadequate to slow the spread of what is an aerosolized and potentially wastewater-borne virus, and constitute a form of medical theater.

  • Various non-vaccine interventions have been suppressed by both the media and the medical establishment in favor of vaccines and expensive patented drugs.

  • The authorities have denied the usefulness of natural immunity against COVID-19, despite the fact that natural immunity confers protection against all of the virus’s proteins, and not just one.

  • Vaccines will do more harm than good. The antigen that these vaccines are based on, SARS-CoV- 2 Spike, is a toxic protein. SARS-CoV-2 may have ADE, or antibody-dependent enhancement; current antibodies may not neutralize future strains, but instead help them infect immune cells. Also, vaccinating during a pandemic with a leaky vaccine removes the evolutionary pressure for a virus to become less lethal.

  • There is a vast and appalling criminal conspiracy that directly links both Anthony Fauci and Moderna to the Wuhan Institute of Virology.

  • COVID-19 vaccine researchers are directly linked to scientists involved in brain-computer interface (“neural lace”) tech, one of whom was indicted for taking grant money from China.

  • Independent researchers have discovered mysterious nanoparticles inside the vaccines that are not supposed to be present.

  • The entire pandemic is being used as an excuse for a vast political and economic transformation of Western society that will enrich the already rich and turn the rest of us into serfs and untouchables.

COVID-19 Pathophysiology and Treatments:

COVID-19 is not a viral pneumonia. It is a viral vascular endotheliitis and attacks the lining of blood vessels, particularly the small pulmonary alveolar capillaries, leading to endothelial cell activation and sloughing, coagulopathy, sepsis, pulmonary edema, and ARDS-like symptoms. This is a disease of the blood and blood vessels. The circulatory system. Any pneumonia that it causes is secondary to that.

In severe cases, this leads to sepsis, blood clots, and multiple organ failure, including hypoxic and inflammatory damage to various vital organs, such as the brain, heart, liver, pancreas, kidneys, and intestines.

Some of the most common laboratory findings in COVID-19 are elevated D-dimer, elevated prothrombin time, elevated C-reactive protein, neutrophilia, lymphopenia, hypocalcemia, and hyperferritinemia, essentially matching a profile of coagulopathy and immune system hyperactivation/immune cell exhaustion.

COVID-19 can present as almost anything, due to the wide tropism of SARS-CoV-2 for various tissues in the body’s vital organs. While its most common initial presentation is respiratory illness and flu-like symptoms, it can present as brain inflammation, gastrointestinal disease, or even heart attack or pulmonary embolism.

COVID-19 is more severe in those with specific comorbidities, such as obesity, diabetes, and hypertension. This is because these conditions involve endothelial dysfunction, which renders the circulatory system more susceptible to infection and injury by this particular virus.

The vast majority of COVID-19 cases are mild and do not cause significant disease. In known cases, there is something known as the 80/20 rule, where 80% of cases are mild and 20% are severe or critical. However, this ratio is only correct for known cases, not all infections. The number of actual infections is much, much higher. Consequently, the mortality and morbidity rate is lower. However, COVID-19 spreads very quickly, meaning that there are a significant number of severely-ill and critically-ill patients appearing in a short time frame.

In those who have critical COVID-19-induced sepsis, hypoxia, coagulopathy, and ARDS, the most common treatments are intubation, injected corticosteroids, and blood thinners. This is not the correct treatment for COVID-19. In severe hypoxia, cellular metabolic shifts cause ATP to break down into hypoxanthine, which, upon the reintroduction of oxygen, causes xanthine oxidase to produce tons of highly damaging radicals that attack tissue. This is called ischemia-reperfusion injury, and it’s why the majority of people who go on a ventilator are dying. In the mitochondria, succinate buildup due to sepsis does the same exact thing; when oxygen is reintroduced, it makes superoxide radicals. Make no mistake, intubation will kill people who have COVID-19.

The end-stage of COVID-19 is severe lipid peroxidation, where fats in the body start to “rust” due to damage by oxidative stress. This drives autoimmunity. Oxidized lipids appear as foreign objects to the immune system, which recognizes and forms antibodies against OSEs, or oxidation-specific epitopes. Also, oxidized lipids feed directly into pattern recognition receptors, triggering even more inflammation and summoning even more cells of the innate immune system that release even more destructive enzymes. This is similar to the pathophysiology of Lupus.

COVID-19’s pathology is dominated by extreme oxidative stress and neutrophil respiratory burst, to the point where hemoglobin becomes incapable of carrying oxygen due to heme iron being stripped out of heme by hypochlorous acid. No amount of supplemental oxygen can oxygenate blood that chemically refuses to bind O2.

The breakdown of the pathology is as follows:

SARS-CoV-2 Spike binds to ACE2. Angiotensin Converting Enzyme 2 is an enzyme that is part of the renin-angiotensin-aldosterone system, or RAAS. The RAAS is a hormone control system that moderates fluid volume in the body and in the bloodstream (i.e. osmolarity) by controlling salt retention and excretion. This protein, ACE2, is ubiquitous in every part of the body that interfaces with the circulatory system, particularly in vascular endothelial cells and pericytes, brain astrocytes, renal tubules and podocytes, pancreatic islet cells, bile duct and intestinal epithelial cells, and the seminiferous ducts of the testis, all of which SARS-CoV-2 can infect, not just the lungs.

SARS-CoV-2 infects a cell as follows: SARS-CoV-2 Spike undergoes a conformational change where the S1 trimers flip up and extend, locking onto ACE2 bound to the surface of a cell. TMPRSS2, or transmembrane protease serine 2, comes along and cuts off the heads of the Spike, exposing the S2 stalk-shaped subunit inside. The remainder of the Spike undergoes a conformational change that causes it to unfold like an extension ladder, embedding itself in the cell membrane. Then, it folds back upon itself, pulling the viral membrane and the cell membrane together. The two membranes fuse, with the virus’s proteins migrating out onto the surface of the cell. The SARS-CoV-2 nucleocapsid enters the cell, disgorging its genetic material and beginning the viral replication process, hijacking the cell’s own structures to produce more virus.

SARS-CoV-2 Spike proteins embedded in a cell can actually cause human cells to fuse together, forming syncytia/MGCs (multinuclear giant cells). They also have other pathogenic, harmful effects. SARS-CoV- 2’s viroporins, such as its Envelope protein, act as calcium ion channels, introducing calcium into infected cells. The virus suppresses the natural interferon response, resulting in delayed inflammation. SARS-CoV-2 N protein can also directly activate the NLRP3 inflammasome. Also, it suppresses the Nrf2 antioxidant pathway. The suppression of ACE2 by binding with Spike causes a buildup of bradykinin that would otherwise be broken down by ACE2.

This constant calcium influx into the cells results in (or is accompanied by) noticeable hypocalcemia, or low blood calcium, especially in people with Vitamin D deficiencies and pre-existing endothelial dysfunction. Bradykinin upregulates cAMP, cGMP, COX, and Phospholipase C activity. This results in prostaglandin release and vastly increased intracellular calcium signaling, which promotes highly aggressive ROS release and ATP depletion. NADPH oxidase releases superoxide into the extracellular space. Superoxide radicals react with nitric oxide to form peroxynitrite. Peroxynitrite reacts with the tetrahydrobiopterin cofactor needed by endothelial nitric oxide synthase, destroying it and “uncoupling” the enzymes, causing nitric oxide synthase to synthesize more superoxide instead. This proceeds in a positive feedback loop until nitric oxide bioavailability in the circulatory system is depleted.

Dissolved nitric oxide gas produced constantly by eNOS serves many important functions, but it is also antiviral against SARS-like coronaviruses, preventing the palmitoylation of the viral Spike protein and making it harder for it to bind to host receptors. The loss of NO allows the virus to begin replicating with impunity in the body. Those with endothelial dysfunction (i.e. hypertension, diabetes, obesity, old age, African-American race) have redox equilibrium issues to begin with, giving the virus an advantage.

Due to the extreme cytokine release triggered by these processes, the body summons a great deal of neutrophils and monocyte-derived alveolar macrophages to the lungs. Cells of the innate immune system are the first-line defenders against pathogens. They work by engulfing invaders and trying to attack them with enzymes that produce powerful oxidants, like SOD and MPO. Superoxide dismutase takes superoxide and makes hydrogen peroxide, and myeloperoxidase takes hydrogen peroxide and chlorine ions and makes hypochlorous acid, which is many, many times more reactive than sodium hypochlorite bleach.

Neutrophils have a nasty trick. They can also eject these enzymes into the extracellular space, where they will continuously spit out peroxide and bleach into the bloodstream. This is called neutrophil extracellular trap formation, or, when it becomes pathogenic and counterproductive, NETosis. In severe and critical COVID-19, there is actually rather severe NETosis.

Hypochlorous acid building up in the bloodstream begins to bleach the iron out of heme and compete for O2 binding sites. Red blood cells lose the ability to transport oxygen, causing the sufferer to turn blue in the face. Unliganded iron, hydrogen peroxide, and superoxide in the bloodstream undergo the Haber- Weiss and Fenton reactions, producing extremely reactive hydroxyl radicals that violently strip electrons from surrounding fats and DNA, oxidizing them severely.

This condition is not unknown to medical science. The actual name for all of this is acute sepsis.

We know this is happening in COVID-19 because people who have died of the disease have noticeable ferroptosis signatures in their tissues, as well as various other oxidative stress markers such as nitrotyrosine, 4-HNE, and malondialdehyde.

When you intubate someone with this condition, you are setting off a free radical bomb by supplying the cells with O2. It’s a catch-22, because we need oxygen to make Adenosine Triphosphate (that is, to live), but O2 is also the precursor of all these damaging radicals that lead to lipid peroxidation.

The correct treatment for severe COVID-19 related sepsis is non-invasive ventilation, steroids, and antioxidant infusions. Most of the drugs repurposed for COVID-19 that show any benefit whatsoever in rescuing critically-ill COVID-19 patients are antioxidants. N-acetylcysteine, melatonin, fluvoxamine, budesonide, famotidine, cimetidine, and ranitidine are all antioxidants. Indomethacin prevents iron- driven oxidation of arachidonic acid to isoprostanes. There are powerful antioxidants such as apocynin that have not even been tested on COVID-19 patients yet which could defang neutrophils, prevent lipid peroxidation, restore endothelial health, and restore oxygenation to the tissues.

Scientists who know anything about pulmonary neutrophilia, ARDS, and redox biology have known or surmised much of this since March 2020. In April 2020, Swiss scientists confirmed that COVID-19 was a vascular endotheliitis. By late 2020, experts had already concluded that COVID-19 causes a form of viral sepsis. They also know that sepsis can be effectively treated with antioxidants. None of this information is particularly new, and yet, for the most part, it has not been acted upon. Doctors continue to use damaging intubation techniques with high PEEP settings despite high lung compliance and poor oxygenation, killing an untold number of critically ill patients with medical malpractice.

Because of the way they are constructed, Randomized Control Trials will never show any benefit for any antiviral against COVID-19. Not Remdesivir, not Kaletra, not HCQ, and not Ivermectin. The reason for this is simple; for the patients that they have recruited for these studies, such as Oxford’s ludicrous RECOVERY study, the intervention is too late to have any positive effect.

The clinical course of COVID-19 is such that by the time most people seek medical attention for hypoxia, their viral load has already tapered off to almost nothing. If someone is about 10 days post-exposure and has already been symptomatic for five days, there is hardly any virus left in their bodies, only cellular damage and derangement that has initiated a hyperinflammatory response. It is from this group that the clinical trials for antivirals have recruited, pretty much exclusively.

In these trials, they give antivirals to severely ill patients who have no virus in their bodies, only a delayed hyperinflammatory response, and then absurdly claim that antivirals have no utility in treating or preventing COVID-19. These clinical trials do not recruit people who are pre-symptomatic. They do not test pre-exposure or post-exposure prophylaxis.

This is like using a defibrillator to shock only flatline, and then absurdly claiming that defibrillators have no medical utility whatsoever when the patients refuse to rise from the dead. The intervention is too late. These trials for antivirals show systematic, egregious selection bias. They are providing a treatment that is futile to the specific cohort they are enrolling.

India went against the instructions of the WHO and mandated the prophylactic usage of Ivermectin. They have almost completely eradicated COVID-19. The Indian Bar Association of Mumbai has brought criminal charges against WHO Chief Scientist Dr. Soumya Swaminathan for recommending against the use of Ivermectin.

Ivermectin is not “horse dewormer”. Yes, it is sold in veterinary paste form as a dewormer for animals. It has also been available in pill form for humans for decades, as an antiparasitic drug.

The media have disingenuously claimed that because Ivermectin is an antiparasitic drug, it has no utility as an antivirus. This is incorrect. Ivermectin has utility as an antiviral. It blocks importin, preventing nuclear import, effectively inhibiting viral access to cell nuclei. Many drugs currently on the market have multiple modes of action. Ivermectin is one such drug. It is both antiparasitic and antiviral.

In Bangladesh, Ivermectin costs $1.80 for an entire 5-day course. Remdesivir, which is toxic to the liver, costs $3,120 for a 5-day course of the drug. Billions of dollars of utterly useless Remdesivir were sold to our governments on the taxpayer’s dime, and it ended up being totally useless for treating hyperinflammatory COVID-19. The media has hardly even covered this at all.

The opposition to the use of generic Ivermectin is not based in science. It is purely financially and politically-motivated. An effective non-vaccine intervention would jeopardize the rushed FDA approval of patented vaccines and medicines for which the pharmaceutical industry stands to rake in billions upon billions of dollars in sales on an ongoing basis.

The majority of the public are scientifically illiterate and cannot grasp what any of this even means, thanks to a pathetic educational system that has miseducated them. You would be lucky to find 1 in 100 people who have even the faintest clue what any of this actually means.

COVID-19 Transmission:

COVID-19 is airborne. The WHO carried water for China by claiming that the virus was only droplet- borne. Our own CDC absurdly claimed that it was mostly transmitted by fomite-to-face contact, which, given its rapid spread from Wuhan to the rest of the world, would have been physically impossible.

The ridiculous belief in fomite-to-face being a primary mode of transmission led to the use of surface disinfection protocols that wasted time, energy, productivity, and disinfectant.

The 6-foot guidelines are absolutely useless. The minimum safe distance to protect oneself from an aerosolized virus is to be 15+ feet away from an infected person, no closer. Realistically, no public transit is safe.

Surgical masks do not protect you from aerosols. The virus is too small and the filter media has too large of gaps to filter it out. They may catch respiratory droplets and keep the virus from being expelled by someone who is sick, but they do not filter a cloud of infectious aerosols if someone were to walk into said cloud.

The minimum level of protection against this virus is quite literally a P100 respirator, a PAPR/CAPR, or a 40mm NATO CBRN respirator, ideally paired with a full-body tyvek or tychem suit, gloves, and booties, with all the holes and gaps taped.

Live SARS-CoV-2 may potentially be detected in sewage outflows, and there may be oral-fecal transmission. During the SARS outbreak in 2003, in the Amoy Gardens incident, hundreds of people were infected by aerosolized fecal matter rising from floor drains in their apartments.

COVID-19 Vaccine Dangers:

The vaccines for COVID-19 are not sterilizing and do not prevent infection or transmission. They are “leaky” vaccines. This means they remove the evolutionary pressure on the virus to become less lethal. It also means that the vaccinated are perfect carriers. In other words, those who are vaccinated are a threat to the unvaccinated, not the other way around.

All of the COVID-19 vaccines currently in use have undergone minimal testing, with highly accelerated clinical trials. Though they appear to limit severe illness, the long-term safety profile of these vaccines remains unknown.

Some of these so-called “vaccines” utilize an untested new technology that has never been used in vaccines before. Traditional vaccines use weakened or killed virus to stimulate an immune response. The Moderna and Pfizer-BioNTech vaccines do not. They are purported to consist of an intramuscular shot containing a suspension of lipid nanoparticles filled with messenger RNA. The way they generate an immune response is by fusing with cells in a vaccine recipient’s shoulder, undergoing endocytosis, releasing their mRNA cargo into those cells, and then utilizing the ribosomes in those cells to synthesize modified SARS-CoV-2 Spike proteins in-situ.

These modified Spike proteins then migrate to the surface of the cell, where they are anchored in place by a transmembrane domain. The adaptive immune system detects the non-human viral protein being expressed by these cells, and then forms antibodies against that protein. This is purported to confer protection against the virus, by training the adaptive immune system to recognize and produce antibodies against the Spike on the actual virus. The J&J and AstraZeneca vaccines do something similar, but use an adenovirus vector for genetic material delivery instead of a lipid nanoparticle. These vaccines were produced or validated with the aid of fetal cell lines HEK-293 and PER.C6, which people with certain religious convictions may object strongly to.

SARS-CoV-2 Spike is a highly pathogenic protein on its own. It is impossible to overstate the danger presented by introducing this protein into the human body.

It is claimed by vaccine manufacturers that the vaccine remains in cells in the shoulder, and that SARS- CoV-2 Spike produced and expressed by these cells from the vaccine’s genetic material is harmless and inert, thanks to the insertion of prolines in the Spike sequence to stabilize it in the prefusion conformation, preventing the Spike from becoming active and fusing with other cells. However, a pharmacokinetic study from Japan showed that the lipid nanoparticles and mRNA from the Pfizer vaccine did not stay in the shoulder, and in fact bioaccumulated in many different organs, including the reproductive organs and adrenal glands, meaning that modified Spike is being expressed quite literally all over the place. These lipid nanoparticles may trigger anaphylaxis in an unlucky few, but far more concerning is the unregulated expression of Spike in various somatic cell lines far from the injection site and the unknown consequences of that.

Messenger RNA is normally consumed right after it is produced in the body, being translated into a protein by a ribosome. COVID-19 vaccine mRNA is produced outside the body, long before a ribosome translates it. In the meantime, it could accumulate damage if inadequately preserved. When a ribosome attempts to translate a damaged strand of mRNA, it can become stalled. When this happens, the ribosome becomes useless for translating proteins because it now has a piece of mRNA stuck in it, like a lace card in an old punch card reader. The whole thing has to be cleaned up and new ribosomes synthesized to replace it. In cells with low ribosome turnover, like nerve cells, this can lead to reduced protein synthesis, cytopathic effects, and neuropathies.

Certain proteins, including SARS-CoV-2 Spike, have proteolytic cleavage sites that are basically like little dotted lines that say “cut here”, which attract a living organism’s own proteases (essentially, molecular scissors) to cut them. There is a possibility that S1 may be proteolytically cleaved from S2, causing active S1 to float away into the bloodstream while leaving the S2 “stalk” embedded in the membrane of the cell that expressed the protein.

SARS-CoV-2 Spike has a Superantigenic region (SAg), which may promote extreme inflammation.

Anti-Spike antibodies were found in one study to function as autoantibodies and attack the body’s own cells. Those who have been immunized with COVID-19 vaccines have developed blood clots, myocarditis, Guillain-Barre Syndrome, Bell’s Palsy, and multiple sclerosis flares, indicating that the vaccine promotes autoimmune reactions against healthy tissue.

SARS-CoV-2 Spike does not only bind to ACE2. It was suspected to have regions that bind to basigin, integrins, neuropilin-1, and bacterial lipopolysaccharides as well. SARS-CoV-2 Spike, on its own, can potentially bind any of these things and act as a ligand for them, triggering unspecified and likely highly inflammatory cellular activity.

SARS-CoV-2 Spike contains an unusual PRRA insert that forms a furin cleavage site. Furin is a ubiquitous human protease, making this an ideal property for the Spike to have, giving it a high degree of cell tropism. No wild-type SARS-like coronaviruses related to SARS-CoV-2 possess this feature, making it highly suspicious, and perhaps a sign of human tampering.

SARS-CoV-2 Spike has a prion-like domain that enhances its infectiousness.

The Spike S1 RBD may bind to heparin-binding proteins and promote amyloid aggregation. In humans, this could lead to Parkinson’s, Lewy Body Dementia, premature Alzheimer’s, or various other neurodegenerative diseases. This is very concerning because SARS-CoV-2 S1 is capable of injuring and penetrating the blood-brain barrier and entering the brain. It is also capable of increasing the permeability of the blood-brain barrier to other molecules.

SARS-CoV-2, like other betacoronaviruses, may have Dengue-like ADE, or antibody-dependent enhancement of disease. For those who aren’t aware, some viruses, including betacoronaviruses, have a feature called ADE. There is also something called Original Antigenic Sin, which is the observation that the body prefers to produce antibodies based on previously-encountered strains of a virus over newly- encountered ones.

In ADE, antibodies from a previous infection become non-neutralizing due to mutations in the virus’s proteins. These non-neutralizing antibodies then act as trojan horses, allowing live, active virus to be pulled into macrophages through their Fc receptor pathways, allowing the virus to infect immune cells that it would not have been able to infect before. This has been known to happen with Dengue Fever; when someone gets sick with Dengue, recovers, and then contracts a different strain, they can get very, very ill.

If someone is vaccinated with mRNA based on the Spike from the initial Wuhan strain of SARS-CoV-2, and then they become infected with a future, mutated strain of the virus, they may become severely ill. In other words, it is possible for vaccines to sensitize someone to disease.

There is a precedent for this in recent history. Sanofi’s Dengvaxia vaccine for Dengue failed because it caused immune sensitization in people whose immune systems were Dengue-naive.

In mice immunized against SARS-CoV and challenged with the virus, a close relative of SARS-CoV-2, they developed immune sensitization, Th2 immunopathology, and eosinophil infiltration in their lungs.

We have been told that SARS-CoV-2 mRNA vaccines cannot be integrated into the human genome, because messenger RNA cannot be turned back into DNA. This is false. There are elements in human cells called LINE-1 retrotransposons, which can indeed integrate mRNA into a human genome by endogenous reverse transcription. Because the mRNA used in the vaccines is stabilized, it hangs around in cells longer, increasing the chances for this to happen. If the gene for SARS-CoV-2 Spike is integrated into a portion of the genome that is not silent and actually expresses a protein, it is possible that people who take this vaccine may continuously express SARS-CoV-2 Spike from their somatic cells for the rest of their lives.

By inoculating people with a vaccine that causes their bodies to produce Spike in-situ, they are being inoculated with a pathogenic protein. A toxin that may cause long-term inflammation, heart problems, and a raised risk of cancers. In the long-term, it may also potentially lead to premature neurodegenerative disease.

Absolutely nobody should be compelled to take this vaccine under any circumstances, and in actual fact, the vaccination campaign must be stopped immediately.

COVID-19 Criminal Conspiracy:

The vaccine and the virus were made by the same people.

In 2014, there was a moratorium on SARS gain-of-function research that lasted until 2017. This research was not halted. Instead, it was outsourced, with the federal grants being laundered through NGOs.

Ralph Baric is a virologist and SARS expert at UNC Chapel Hill in North Carolina. This is who Anthony Fauci was referring to when he insisted, before Congress, that if any gain-of-function research was being conducted, it was being conducted in North Carolina.

This was a lie. Anthony Fauci lied before Congress. A felony.

Ralph Baric and Shi Zhengli are colleagues and have co-written papers together. Ralph Baric mentored Shi Zhengli in his gain-of-function manipulation techniques, particularly serial passage, which results in a virus that appears as if it originated naturally. In other words, deniable bioweapons. Serial passage in humanized hACE2 mice may have produced something like SARS-CoV-2.

The funding for the gain-of-function research being conducted at the Wuhan Institute of Virology came from Peter Daszak. Peter Daszak runs an NGO called EcoHealth Alliance. EcoHealth Alliance received millions of dollars in grant money from the National Institutes of Health/National Institute of Allergy and Infectious Diseases (that is, Anthony Fauci), the Defense Threat Reduction Agency (part of the US Department of Defense), and the United States Agency for International Development. NIH/NIAID contributed a few million dollars, and DTRA and USAID each contributed tens of millions of dollars towards this research. Altogether, it was over a hundred million dollars.

EcoHealth Alliance subcontracted these grants to the Wuhan Institute of Virology, a lab in China with a very questionable safety record and poorly trained staff, so that they could conduct gain-of-function research, not in their fancy P4 lab, but in a level-2 lab where technicians wore nothing more sophisticated than perhaps a hairnet, latex gloves, and a surgical mask, instead of the bubble suits used when working with dangerous viruses. Chinese scientists in Wuhan reported being routinely bitten and urinated on by laboratory animals. Why anyone would outsource this dangerous and delicate work to the People’s Republic of China, a country infamous for industrial accidents and massive explosions that have claimed hundreds of lives, is completely beyond me, unless the aim was to start a pandemic on purpose.

In November of 2019, three technicians at the Wuhan Institute of Virology developed symptoms consistent with a flu-like illness. Anthony Fauci, Peter Daszak, and Ralph Baric knew at once what had happened, because back channels exist between this laboratory and our scientists and officials.

December 12th, 2019, Ralph Baric signed a Material Transfer Agreement (essentially, an NDA) to receive Coronavirus mRNA vaccine-related materials co-owned by Moderna and NIH. It wasn’t until a whole month later, on January 11th, 2020, that China allegedly sent us the sequence to what would become known as SARS-CoV-2. Moderna claims, rather absurdly, that they developed a working vaccine from this sequence in under 48 hours.

Stephane Bancel, the current CEO of Moderna, was formerly the CEO of bioMerieux, a French multinational corporation specializing in medical diagnostic tech, founded by one Alain Merieux. Alain Merieux was one of the individuals who was instrumental in the construction of the Wuhan Institute of Virology’s P4 lab.

The sequence given as the closest relative to SARS-CoV-2, RaTG13, is not a real virus. It is a forgery. It was made by entering a gene sequence by hand into a database, to create a cover story for the existence of SARS-CoV-2, which is very likely a gain-of-function chimera produced at the Wuhan Institute of Virology and was either leaked by accident or intentionally released.

The animal reservoir of SARS-CoV-2 has never been found.

This is not a conspiracy “theory”. It is an actual criminal conspiracy, in which people connected to the development of Moderna’s mRNA-1273 are directly connected to the Wuhan Institute of Virology and their gain-of-function research by very few degrees of separation, if any. The paper trail is well- established.

The lab-leak theory has been suppressed because pulling that thread leads one to inevitably conclude that there is enough circumstantial evidence to link Moderna, the NIH, the WIV, and both the vaccine and the virus’s creation together. In a sane country, this would have immediately led to the world’s biggest RICO and mass murder case. Anthony Fauci, Peter Daszak, Ralph Baric, Shi Zhengli, and Stephane Bancel, and their accomplices, would have been indicted and prosecuted to the fullest extent of the law. Instead, billions of our tax dollars were awarded to the perpetrators.

The FBI raided Allure Medical in Shelby Township north of Detroit for billing insurance for “fraudulent COVID-19 cures”. The treatment they were using? Intravenous Vitamin C. An antioxidant. Which, as described above, is an entirely valid treatment for COVID-19-induced sepsis, and indeed, is now part of the MATH+ protocol advanced by Dr. Paul E. Marik.

The FDA banned ranitidine (Zantac) due to supposed NDMA (N-nitrosodimethylamine) contamination. Ranitidine is not only an H2 blocker used as antacid, but also has a powerful antioxidant effect, scavenging hydroxyl radicals. This gives it utility in treating COVID-19.

The FDA also attempted to take N-acetylcysteine, a harmless amino acid supplement and antioxidant, off the shelves, compelling Amazon to remove it from their online storefront.

This leaves us with a chilling question: did the FDA knowingly suppress antioxidants useful for treating COVID-19 sepsis as part of a criminal conspiracy against the American public?

The establishment is cooperating with, and facilitating, the worst criminals in human history, and are actively suppressing non-vaccine treatments and therapies in order to compel us to inject these criminals’ products into our bodies. This is absolutely unacceptable.

COVID-19 Vaccine Development and Links to Transhumanism:

This section deals with some more speculative aspects of the pandemic and the medical and scientific establishment’s reaction to it, as well as the disturbing links between scientists involved in vaccine research and scientists whose work involved merging nanotechnology with living cells.

On June 9th, 2020, Charles Lieber, a Harvard nanotechnology researcher with decades of experience, was indicted by the DOJ for fraud. Charles Lieber received millions of dollars in grant money from the US Department of Defense, specifically the military think tanks DARPA, AFOSR, and ONR, as well as NIH and MITRE. His specialty is the use of silicon nanowires in lieu of patch clamp electrodes to monitor and modulate intracellular activity, something he has been working on at Harvard for the past twenty years. He was claimed to have been working on silicon nanowire batteries in China, but none of his colleagues can recall him ever having worked on battery technology in his life; all of his research deals with bionanotechnology, or the blending of nanotech with living cells.

The indictment was over his collaboration with the Wuhan University of Technology. He had double- dipped, against the terms of his DOD grants, and taken money from the PRC’s Thousand Talents plan, a program which the Chinese government uses to bribe Western scientists into sharing proprietary R&D information that can be exploited by the PLA for strategic advantage.

Charles Lieber’s own papers describe the use of silicon nanowires for brain-computer interfaces, or “neural lace” technology. His papers describe how neurons can endocytose whole silicon nanowires or parts of them, monitoring and even modulating neuronal activity.

Charles Lieber was a colleague of Robert Langer. Together, along with Daniel S. Kohane, they worked on a paper describing artificial tissue scaffolds that could be implanted in a human heart to monitor its activity remotely.

Robert Langer, an MIT alumnus and expert in nanotech drug delivery, is one of the co-founders of Moderna. His net worth is now $5.1 billion USD thanks to Moderna’s mRNA-1273 vaccine sales.

Both Charles Lieber and Robert Langer’s bibliographies describe, essentially, techniques for human enhancement, i.e. transhumanism. Klaus Schwab, the founder of the World Economic Forum and the architect behind the so-called “Great Reset”, has long spoken of the “blending of biology and machinery” in his books.

Since these revelations, it has come to the attention of independent researchers that the COVID-19 vaccines may contain reduced graphene oxide nanoparticles. Japanese researchers have also found unexplained contaminants in COVID-19 vaccines.

Graphene oxide is an anxiolytic. It has been shown to reduce the anxiety of laboratory mice when injected into their brains. Indeed, given SARS-CoV-2 Spike’s propensity to compromise the blood-brain barrier and increase its permeability, it is the perfect protein for preparing brain tissue for extravasation of nanoparticles from the bloodstream and into the brain. Graphene is also highly conductive and, in some circumstances, paramagnetic.

In 2013, under the Obama administration, DARPA launched the BRAIN Initiative; BRAIN is an acronym for Brain Research Through Advancing Innovative Neurotechnologies®. This program involves the development of brain-computer interface technologies for the military, particularly non-invasive, injectable systems that cause minimal damage to brain tissue when removed. Supposedly, this technology would be used for healing wounded soldiers with traumatic brain injuries, the direct brain control of prosthetic limbs, and even new abilities such as controlling drones with one’s mind.

Various methods have been proposed for achieving this, including optogenetics, magnetogenetics, ultrasound, implanted electrodes, and transcranial electromagnetic stimulation. In all instances, the goal is to obtain read or read-write capability over neurons, either by stimulating and probing them, or by rendering them especially sensitive to stimulation and probing.

However, the notion of the widespread use of BCI technology, such as Elon Musk’s Neuralink device, raises many concerns over privacy and personal autonomy. Reading from neurons is problematic enough on its own. Wireless brain-computer interfaces may interact with current or future wireless GSM infrastructure, creating neurological data security concerns. A hacker or other malicious actor may compromise such networks to obtain people’s brain data, and then exploit it for nefarious purposes.

However, a device capable of writing to human neurons, not just reading from them, presents another, even more serious set of ethical concerns. A BCI that is capable of altering the contents of one’s mind for innocuous purposes, such as projecting a heads-up display onto their brain’s visual center or sending audio into one’s auditory cortex, would also theoretically be capable of altering mood and personality, or perhaps even subjugating someone’s very will, rendering them utterly obedient to authority. This technology would be a tyrant’s wet dream. Imagine soldiers who would shoot their own countrymen without hesitation, or helpless serfs who are satisfied to live in literal dog kennels.

BCIs could be used to unscrupulously alter perceptions of basic things such as emotions and values, changing people’s thresholds of satiety, happiness, anger, disgust, and so forth. This is not inconsequential. Someone’s entire regime of behaviors could be altered by a BCI, including such things as suppressing their appetite or desire for virtually anything on Maslow’s Hierarchy of Needs.

Anything is possible when you have direct access to someone’s brain and its contents. Someone who is obese could be made to feel disgust at the sight of food. Someone who is involuntarily celibate could have their libido disabled so they don’t even desire sex to begin with. Someone who is racist could be forced to feel delight over cohabiting with people of other races. Someone who is violent could be forced to be meek and submissive. These things might sound good to you if you are a tyrant, but to normal people, the idea of personal autonomy being overridden to such a degree is appalling.

For the wealthy, neural laces would be an unequaled boon, giving them the opportunity to enhance their intelligence with neuroprosthetics (i.e. an “exocortex”), and to deliver irresistible commands directly into the minds of their BCI-augmented servants, even physically or sexually abusive commands that they would normally refuse.

If the vaccine is a method to surreptitiously introduce an injectable BCI into millions of people without their knowledge or consent, then what we are witnessing is the rise of a tyrannical regime unlike anything ever seen before on the face of this planet, one that fully intends to strip every man, woman, and child of our free will.

Our flaws are what make us human. A utopia arrived at by removing people’s free will is not a utopia at all. It is a monomaniacal nightmare. Furthermore, the people who rule over us are Dark Triad types who cannot be trusted with such power. Imagine being beaten and sexually assaulted by a wealthy and powerful psychopath and being forced to smile and laugh over it because your neural lace gives you no choice but to obey your master.

The Elites are forging ahead with this technology without giving people any room to question the social or ethical ramifications, or to establish regulatory frameworks that ensure that our personal agency and autonomy will not be overridden by these devices. They do this because they secretly dream of a future where they can treat you worse than an animal and you cannot even fight back. If this evil plan is allowed to continue, it will spell the end of humanity as we know it.

Conclusions:

The current pandemic was produced and perpetuated by the establishment, through the use of a virus engineered in a PLA-connected Chinese biowarfare laboratory, with the aid of American taxpayer dollars and French expertise.

This research was conducted under the absolutely ridiculous euphemism of “gain-of-function” research, which is supposedly carried out in order to determine which viruses have the highest potential for zoonotic spillover and preemptively vaccinate or guard against them.

Gain-of-function/gain-of-threat research, a.k.a. “Dual-Use Research of Concern”, or DURC, is bioweapon research by another, friendlier-sounding name, simply to avoid the taboo of calling it what it actually is. It has always been bioweapon research. The people who are conducting this research fully understand that they are taking wild pathogens that are not infectious in humans and making them more infectious, often taking grants from military think tanks encouraging them to do so.

These virologists conducting this type of research are enemies of their fellow man, like pyromaniac firefighters. GOF research has never protected anyone from any pandemic. In fact, it has now started one, meaning its utility for preventing pandemics is actually negative. It should have been banned globally, and the lunatics performing it should have been put in straitjackets long ago.

Either through a leak or an intentional release from the Wuhan Institute of Virology, a deadly SARS strain is now endemic across the globe, after the WHO and CDC and public officials first downplayed the risks, and then intentionally incited a panic and lockdowns that jeopardized people’s health and their livelihoods.

This was then used by the utterly depraved and psychopathic aristocratic class who rule over us as an excuse to coerce people into accepting an injected poison which may be a depopulation agent, a mind control/pacification agent in the form of injectable “smart dust”, or both in one. They believe they can get away with this by weaponizing the social stigma of vaccine refusal. They are incorrect.

Their motives are clear and obvious to anyone who has been paying attention. These megalomaniacs have raided the pension funds of the free world. Wall Street is insolvent and has had an ongoing liquidity crisis since the end of 2019. The aim now is to exert total, full-spectrum physical, mental, and financial control over humanity before we realize just how badly we’ve been extorted by these maniacs.

The pandemic and its response served multiple purposes for the Elite:

  • Concealing a depression brought on by the usurious plunder of our economies conducted by rentier-capitalists and absentee owners who produce absolutely nothing of any value to society whatsoever. Instead of us having a very predictable Occupy Wall Street Part II, the Elites and their stooges got to stand up on television and paint themselves as wise and all-powerful saviors instead of the marauding cabal of despicable land pirates that they are.

  • Destroying small businesses and eroding the middle class.

  • Transferring trillions of dollars of wealth from the American public and into the pockets of billionaires and special interests.

  • Engaging in insider trading, buying stock in biotech companies and shorting brick-and-mortar businesses and travel companies, with the aim of collapsing face-to-face commerce and tourism and replacing it with e-commerce and servitization.

  • Creating a casus belli for war with China, encouraging us to attack them, wasting American lives and treasure and driving us to the brink of nuclear armageddon.

  • Establishing technological and biosecurity frameworks for population control and technocratic- socialist “smart cities” where everyone’s movements are despotically tracked, all in anticipation of widespread automation, joblessness, and food shortages, by using the false guise of a vaccine to compel cooperation.

Any one of these things would constitute a vicious rape of Western society. Taken together, they beggar belief; they are a complete inversion of our most treasured values.

What is the purpose of all of this? One can only speculate as to the perpetrators’ motives, however, we have some theories.

The Elites are trying to pull up the ladder, erase upward mobility for large segments of the population, cull political opponents and other “undesirables”, and put the remainder of humanity on a tight leash, rationing our access to certain goods and services that they have deemed “high-impact”, such as automobile use, tourism, meat consumption, and so on. Naturally, they will continue to have their own luxuries, as part of a strict caste system akin to feudalism.

Why are they doing this? Simple. The Elites are Neo-Malthusians and believe that we are overpopulated and that resource depletion will collapse civilization in a matter of a few short decades. They are not necessarily incorrect in this belief. We are overpopulated, and we are consuming too many resources. However, orchestrating such a gruesome and murderous power grab in response to a looming crisis demonstrates that they have nothing but the utmost contempt for their fellow man.

To those who are participating in this disgusting farce without any understanding of what they are doing, we have one word for you. Stop. You are causing irreparable harm to your country and to your fellow citizens.

To those who may be reading this warning and have full knowledge and understanding of what they are doing and how it will unjustly harm millions of innocent people, we have a few more words.

Damn you to hell. You will not destroy America and the Free World, and you will not have your New World Order. We will make certain of that.

*  *  *

This PDF document contains 14 pages, followed by another 17 pages of references.

For those, please visit the original PDF file at Covid19 – The Spartacus Letter.

end

Over 3,000 Doctors and Scientists Sign Declaration Accusing COVID Policy-Makers of ‘Crimes Against Humanity’

A“Physicians’ Declaration” produced by an international alliance of physicians and medical scientists strongly condemns the global strategy to treat COVID, accusing policy-makers of potential “crimes against humanity” for preventing physicians from providing life-saving treatments for their patients and suppressing open scientific discussion.

The document states that “one size fits all” treatment recommendations have resulted in needless illness and death.

As of 1:00 Friday afternoon, the declaration had garnered over 3,100 signatures from doctors and scientists around the world.

A group of physicians and scientists met in Rome, Italy earlier this month for a three day Global Covid Summit to speak “truth to power about Covid pandemic research and treatment.”

The summit, which was held from September 12 to September 14,  gave the medical professionals an opportunity to compare studies, and assess the efficacy of the various treatments that have been developed in hospitals, doctors offices and research labs throughout the world.

The document, reprinted below in its entirety, sprang from that conference.

The Physicians’ Declaration was first read at the Rome Covid Summit, catalyzing an explosion of active support from medical scientists and physicians around the globe. These professionals were not expecting career threats, character assassination, papers and research censored, social accounts blocked, search results manipulated, clinical trials and patient observations banned, and their professional history and accomplishments altered or omitted in academic and mainstream media.

Dr. Robert Malone, architect of the mRNA vaccine platform, read the Rome Declaration at the summit.

 

Thousands have died from Covid as a result of being denied life-saving early treatment. The Declaration is a battle cry from physicians who are daily fighting for the right to treat their patients, and the right of patients to receive those treatments – without fear of interference, retribution or censorship by government, pharmacies, pharmaceutical corporations, and big tech. We demand that these groups step aside and honor the sanctity and integrity of the patient-physician relationship, the fundamental maxim “First Do No Harm”, and the freedom of patients and physicians to make informed medical decisions. Lives depend on it.

We the physicians of the world, united and loyal to the Hippocratic Oath, recognizing the profession of medicine as we know it is at a crossroad, are compelled to declare the following;

WHEREAS, it is our utmost responsibility and duty to uphold and restore the dignity, integrity, art and science of medicine;

WHEREAS, there is an unprecedented assault on our ability to care for our patients;

WHEREAS, public policy makers have chosen to force a “one size fits all” treatment strategy, resulting in needless illness and death, rather than upholding fundamental concepts of the individualized, personalized approach to patient care which is proven to be safe and more effective;

WHEREAS, physicians and other health care providers working on the front lines, utilizing their knowledge of epidemiology, pathophysiology and pharmacology, are often first to identify new, potentially life saving treatments;

WHEREAS, physicians are increasingly being discouraged from engaging in open professional discourse and the exchange of ideas about new and emerging diseases, not only endangering the essence of the medical profession, but more importantly, more tragically, the lives of our patients;

WHEREAS, thousands of physicians are being prevented from providing treatment to their patients, as a result of barriers put up by pharmacies, hospitals, and public health agencies, rendering the vast majority of healthcare providers helpless to protect their patients in the face of disease. Physicians are now advising their patients to simply go home (allowing the virus to replicate) and return when their disease worsens, resulting in hundreds of thousands of unnecessary patient deaths, due to failure-to-treat;

WHEREAS, this is not medicine. This is not care. These policies may actually constitute crimes against humanity.

NOW THEREFORE, IT IS:

RESOLVED, that the physician-patient relationship must be restored. The very heart of medicine is this relationship, which allows physicians to best understand their patients and their illnesses, to formulate treatments that give the best chance for success, while the patient is an active participant in their care.

RESOLVED, that the political intrusion into the practice of medicine and the physician/patient relationship must end. Physicians, and all health care providers, must be free to practice the art and science of medicine without fear of retribution, censorship, slander, or disciplinary action, including possible loss of licensure and hospital privileges, loss of insurance contracts and interference from government entities and organizations – which further prevent us from caring for patients in need. More than ever, the right and ability to exchange objective scientific findings, which further our understanding of disease, must be protected.

RESOLVED, that physicians must defend their right to prescribe treatment, observing the tenet FIRST, DO NO HARM. Physicians shall not be restricted from prescribing safe and effective treatments. These restrictions continue to cause unnecessary sickness and death. The rights of patients, after being fully informed about the risks and benefits of each option, must be restored to receive those treatments.

RESOLVED, that we invite physicians of the world and all health care providers to join us in this noble cause as we endeavor to restore trust, integrity and professionalism to the practice of medicine.

RESOLVED, that we invite the scientists of the world, who are skilled in biomedical research and uphold the highest ethical and moral standards, to insist on their ability to conduct and publish objective, empirical research without fear of reprisal upon their careers, reputations and livelihoods.

RESOLVED, that we invite patients, who believe in the importance of the physician-patient relationship and the ability to be active participants in their care, to demand access to science-based medical care

end

special thanks to Milan S

FLORIDA’S RADICAL NEW COVID PLAN | The HighWire

 
 
 
 
 
 
FLORIDA’S RADICAL NEW COVID PLAN | The HighWire

 

https://thehighwire.com/videos/floridas-radical-new-covid-plan/

 
 
 
 
end
 

Jerusalem Post

 

 

special thanks to Chris Powell for sending this to us:

Does eating healthy prevent people from getting, dying from COVID?

A new study claims that one-third of coronavirus cases could have been avoided if people had healthier eating habits. 

Fresh vegetables are sold at the shuk (market) (photo credit: MARC ISRAEL SELLEM)
Fresh vegetables are sold at the shuk (market)
(photo credit: MARC ISRAEL SELLEM)
 
 
We know that a daily diet that includes lots of fruit and vegetables is healthier, but now it seems that it can also help prevent one from being infected with COVID-19
 
A new study from Boston published in the journal Gut reports that consuming healthy food like produce may lower the risk of contracting the virus, in addition to lowering the severity of symptoms if one is infected. Although doctors have stated that metabolic conditions including obesity and type 2 diabetes can cause severe coronavirus complications, this study is among the first to add nutrition to the equation.
 
Researchers from Massachusetts General Hospital in Boston added that the effect of diet on COVID-19 risk, as well as on the severity of symptoms is particularly strong among those living in weakened socio-economic areas. Previous reports suggest that poor nutrition is a widespread trait among groups disproportionately affected by the epidemic, but data on the link between diet and the risk of getting the virus and then developing severe symptoms is lacking, said study editor Jordi Marino, a doctoral student and instructor at Harvard Medical School, in a press release.
.
The research team analyzed data collected on 592,571 people from the United States and United Kingdom between March and December 2020. Each participant completed a survey of their dietary habits, with study authors scoring people’s “diet quality,” with an emphasis on fruit and vegetable consumption.
 
 
 
During the follow-up period, 31,831 participants developed COVID-19. The findings showed that people who had a healthier diet had a 9% lower risk of contracting the virus compared to people who ate a poorer diet. Similarly, the results showed that those who ate healthier were 41% less likely to develop severe symptoms. 
 
“These findings have been consistent in a variety of analyses we performed that address other health habits, social welfare factors, and virus transmission rates in the community,” Marino added in the release.
 
Another one of the researchers, Dr. Andrew Chan, explained that while getting vaccinated and wearing a mass indoors and in crowded spaces is paramount, the research suggests that eating properly may reduce the risk of contracting COVID-19.

(Credit: Dror Katz)(Credit: Dror Katz)

 
The researchers also observed a cumulative link between poor nutrition, increased socioeconomic deprivation and COVID-19 risk. 
 
People who live in poor neighborhoods who rely heavily on fast food are much more susceptible to the virus than any of these conditions alone. Models estimate that nearly a third of virus cases would have been avoided if one of these two conditions didn’t exist, explained Dr. Marino.
 
 
In conclusion, the researchers believe that making healthy, plant-based foods more available and affordable can help advance the end of the epidemic. 
 
“Our findings are a call for governments and those who develop protocols to prioritize healthy eating and welfare with influential policies,” Dr. Marino concluded.
 
END
 
My goodness! Italy orders companies not to pay unvaccinated workers
(zerohedge)

Italy Orders Companies Not To Pay Unvaccinated Workers

 
SATURDAY, SEP 25, 2021 – 08:10 AM

Authored by Paul Joseph Watson via Summit News,

The Italian government has passed a decree applying to both the private and public sector ordering companies to withhold pay from workers who refuse to take the COVID-19 vaccine.

The decree mandates that all employees get the vaccine ‘green pass’, which led to questions about what would happen to the millions of Italians who remain unvaccinated.

The government is attempting to avoid potential legal action by directing companies not to fire the unvaccinated, but simply to not pay them while telling employees not to show up to work under threat of being fined if they do so.

“Instead, they should be considered to be on an unjustified absence and have their wages or salaries withheld,” writes Ken Macon.

“Those found to be working without a vaccine passport could be punished with fines of up to €1,500. Additionally, the government said it would not cater for the test costs for those who would prefer not to take the vaccine.”

Even those who have had the virus, recovered and developed anti-bodies will still have to get at least one dose of the vaccine, presumably just as a performative show of compliance.

Italy extended its vaccine passport scheme to schools and universities on September 1st.

Teachers were told they faced being fired if they didn’t take it and students were mandated to take it to attend classes.

The unvaccinated were also banned from using long distance public transport, meaning that holidays, travel for work and visiting relatives has become impossible for many.

Venues such as museums, stadiums, theaters gyms, and indoor seating spaces at bars and restaurants all require vaccine identification and businesses can be fined thousands of euros for not enforcing the rules.

The ‘green pass’ in Italy also tracks an individual’s location, once again emphasizing how it’s a digital ID card on steroids.

end

Three thousand New York Teachers ask for vaccination exemption

(Svab/EpochTimes)

3,000 NYC Teachers Asked For Vaccination Exemptions, Union Says

 
SATURDAY, SEP 25, 2021 – 02:00 PM

By Peter Svab of Epoch Times,

Around 3,000 New York City teachers have asked for medical and religious exemptions from the city’s COVID-19 vaccination mandate, according to the city’s teachers union.

 

Teachers rally at a demonstration against COVID-19 vaccination mandates

The city requires all school staff to be vaccinated or exempted by midnight on Sept. 27. The union, United Federation of Teachers (UFT) said on Sept. 24 that 90-95 percent of teachers have received the vaccine. That would leave about 4,000-8,000 unvaccinated, including those who have asked for the exemption.

The exemptions are largely medical, UFT President Michael Mulgrew told reporters during a Sept. 24 teleconference. He didn’t specify how many have been granted. Those rejected have an option to appeal, but Mulgrew said he didn’t know how many have done so.

With a pending appeal, a teacher can’t participate in instruction, but gets exempted from the mandate, which requires those unvaccinated after the deadline to either leave their jobs with a severance package or take unpaid leave.

Given the city’s total of some 78,000 teachers, about 4 percent have asked for exemptions.

Both Mulgrew and Mark Cannizzaro, president of the Council of School Supervisors and Administrators, warned that the mandate deadline could cause staffing shortages, despite the city’s assurances that there will be enough substitutes.

“Principals and superintendents have been reaching out consistently to tell us that they are concerned about not having enough staff come Tuesday morning,” Cannizzaro said during the teleconference.

The blamed the city administration for a lack of advanced planning and suggested the city should allow unvaccinated staffers to still come to work for as long as it’s needed to resolve staffing issues at their individual schools.

“Until there’s a plan to make sure schools are safe, we need to reevaluate what we’re doing going forward,” Cannizzaro said.

They also criticized the city for putting the deadline on Monday, leaving schools in a position where they may learn on Monday night, they need a substitute for somebody the following morning.

“Who’s the genius who decided to do it on a Monday by midnight?” Mulgrew said.

Cannizzaro suggested a better way would have been to place the deadline before the start of the school year, before a holiday, or before a long weekend.

“Perhaps we would have had enough time to make contingency plans to be ready to welcome students,” he said.

The municipal workers union has been fighting the mandate in court and initially managed to get it put on hold. But the court lifted the restraining order on Sept. 23.

“This case has already led to progress in protecting the rights of our members, since the city—in the wake of the court’s initial issuance of the restraining order—admitted that there can be exceptions to the vaccine mandate,” Municipal Labor Committee Chair Harry Nespoli said in a Sept. 22 statement.

“The court—while lifting the restraining order—has not made a final decision, and we are preparing additional material to support our case.”

The city explained the mandate as a way to reduce risk posed by the CCP (Chinese Communist Party) virus, which causes COVID-19, as well as to prevent school closures due to outbreaks. It imposed a slew of other restrictions including mandatory masks for both students and staff, 3-foot distancing between students when possible, and biweekly random testing (among students whose parents consented). The testing frequency was increased to weekly upon UFT’s request. Based on the rules, one student testing positive could lead to the whole class being relegated to remote learning for 7-10 days, regardless of whether the others test positive of not. Schools have also nixed supposedly riskier activities such as indoor eating and extracurriculars like choir, band, and sports.

Many have opposed the rules, questioning why children, who are at low risk of getting serious symptoms from COVID-19, are being forced to wear masks all day while celebrities and politicians have been seen attending numerous events maskless.

end

German concentration camps for unvaccinated?

(NaturalNews)

After throwing them in covid quarantine camps, German government also STRIPS prisoners of compensation payments to bankrupt them – NaturalNews.com

 

 
 
 
 
 
Any you thought racism and fascism died with Hitler? It is alive and well in Germany, it seems. Especially as Germany tilts more to the  left.
Tyranny and division of this nature always creates devastation of untold proportions. Add to this the talk of revoking private ownership of apartments in Berlin to make room for social housing smacks of asset confiscation and warns of potential asset risk.
Europe is quickly becoming a place that free flowing capital will avoid. And it would not surprise, to see capital controls in Europe next year as capital flees just like it did prior to the WWII. Some people may also see this as time to leave. As it is capital is moving to Switzerland and the like in hopes of finding safe harbor.
Young talented people will also leave Germany and other nations following in these footsteps for greener and more free lifestyle.

 

https://www.naturalnews.com/2021-09-25-covid-quarantine-camps-germany-strips-prisoners-compensation.html

end
For now the CDC will not change their definition for “fully vaccinated”
(Phillips/EpochTimes)

CDC Not Changing Definition Of “Fully Vaccinated”…For Now: Walensky

 
SUNDAY, SEP 26, 2021 – 11:03 AM

Authored by Jack Phillips via The Epoch Times,

Centers for Disease Control and Prevention (CDC) Director Rochelle Walensky said Friday that the definition of “fully vaccinated” won’t change when COVID-19 booster shots are rolled out—at least in the near future.

Currently, the CDC and other federal health agencies have defined one as fully vaccinated if they receive two doses of the Pfizer-BioNTech vaccine, two doses of Moderna’s vaccine, or one Johnson & Johnson shot.

In Israel, officials recently announced individuals who have not received a third dose of the Pfizer vaccine after six months will not be counted as fully vaccinated.

It means they won’t be able to use the “green pass” vaccine passport that is utilized for restaurants, gyms, and other venues in Israel.

When asked whether the CDC will change its definition, Walensky said that “we are not changing the definition right now of fully vaccinated.”

As the agency gathers more “experience with our third shot and have more people who are recommended” to get the shot, then the CDC may change its guidelines around boosters, Walensky said during the White House’s COVID-19 response team briefing.

Across the United States, some businesses and government agencies have made it mandatory for workers to get fully vaccinated against COVID-19. Should the CDC and other health agencies change its policy around who can be considered fully vaccinated, the rule would potentially impact tens of millions of people.

Several weeks ago, Israel, which has one of the most vaccinated populations in the world, set an expiration date for its vaccine passport. Now, a booster shot received within six months of the second dose extends the passport’s validity by six months.

That decision came just days after the country started offering COVID-19 boosters to all vaccinated people.

Walenksy’s remarks come just hours after a CDC panel on late Thursday recommended Pfizer boosters for individuals aged 65 and older. The panel also overwhelmingly voted for a booster for people between the ages of 50 and 64 who have underlying health issues, and voted in favor of providing the third dose for anyone who is being treated at a long-term care facility.

“Prevention of infection may protect health care capacity and other essential services for the COVID-19 response and maintain overall function for society,” said Dr. Kathleen Dooling, a CDC official on the panel.

The World Health Organization has sharply criticized the U.S., Israel, and other wealthy nations for trying to develop and approve booster doses for their populations, arguing that poorer countries are still in dire need of COVID-19 vaccines.

end

SPECIAL THANKS TO MILAN S FOR SENDING THIS TO US

AFFIDAVIT OF LTC. THERESA LONG M.D. IN SUPPORT OF A MOTION FOR A PRELIMINARY INJUNCTION ORDER – Deep Capture

 

 
AFFIDAVIT OF LTC. THERESA LONG M.D. IN SUPPORT OF A MOTION FOR A PRELIMINARY INJUNCTION ORDER – Deep Capture

 

https://www.deepcapture.com/2021/09/affidavit-of-ltc-theresa-long-m-d-in-support-of-a-motion-for-a-preliminary-injunction-order/

 
END
Death rates are impressively low in Haiti due to use of ivermectin
(zerohedge)

COVID-19 Death Rates Are Impressively Low In Haiti : Goats and Soda : NPR

 
 
 
Low vaccination rate, no lockdowns or masks = no covid.

 

Everywhere there is high vaccination and lockdown nonsense you see high covid cases and deaths.

They also have pretty high Ivermectin use in Haiti, not because of Covid but for anti-parasite use.

https://www.npr.org/sections/goatsandsoda/2021/05/04/992544022/one-of-the-worlds-poorest-countries-has-one-of-the-worlds-lowest-covid-death-rat

 
 
end
 
The booster shot will probably be very harmful to people.
(zero
hedge)

As Advisory Panel Warned, CDC Director’s Anti-Science Decision Makes Boosters ‘Available To Anyone Who Wants One’

 
SUNDAY, SEP 26, 2021 – 01:30 PM

Now that CDC chief Dr. Rochelle Walensky – possibly working on behalf of her political puppet masters – has overridden her agency’s advisory panel to expand the eligibility for Pfizer booster jabs to high-risk workers (a group that ACIP, the advisory panel, had decided to exclude given a paucity of efficacy and safety data), many employers are confused about whether the new guidance applies to them – and whether they might be left in a difficult situation with employees who didn’t get the first two vaccines.

At the end of the day, the big worry is that hundreds of thousands of shots allocated for workers might simply go unused, left to expire while dozens of poorer countries would be overjoyed to have them.

According to the Hill, chaotic and at times contradictory messaging from federal health officials has culminated in a confusing set of recommendations about who should, and shouldn’t receive booster jabs, and why?

Panel members initially said they had excluded approving jabs on an employment basis because there wasn’t enough evidence those people were losing protection. That decision was clearly a disappointment to the Biden Administration, which is possibly why Dr. Walensky interceded.

The depth of Dr. Walsensky’s contradiction of the science can be found in the exact wording of her decree: Starting immediately, anyone between the ages of 18 and 64 who is at increased risk of COVID-19 “exposure and transmission because of occupational or institutional setting” can get a third dose.

Legal experts told the Hill that those words are so vague, practically anyone could qualify. Already, many local level officials appear to be leaning toward simply giving boosters to anyone who asks.

“There’s going to be confusion. If we are going to create guidelines that are essentially making the vaccine available to almost everyone, the simplest solution is, make it available to everyone,” said Celine Gounder, an infectious disease specialist and epidemiologist at NYU and Bellevue Hospital. “The best public health programs are the ones that are simple and easy to understand and clear, and the more complexity you build into it, the more difficult it is to roll out.”

That statement above about not creating obstacles to the third shot – that’s coming from a scientist who doubted whether they were even necessary.

Gounder, who advised the Biden transition team on COVID-19, has been critical of the administration’s fervent push for boosters, and said the evidence for a third dose based on occupation was mixed at best.

“You have to step back and ask the question, why is it that we’re vaccinating people in high risk settings? Is it because they as individuals are at high risk, or is it because it would be disruptive to the workplace,” Gounder said.

As far as the dramatic conclusion to what was supposed to be a ‘staid’ scientific process – the CDC director overruling her advisory panel on the issue of occupancy-based eligibility in a late night statement – that should be enough to alert Americans that something strange is happening. Despite the panel’s claims, Dr. Walensky took to the White House press briefing on Friday to claim that she did not “overrule” the advisory committee and that she had listened to both sides on the issue of whether to approve boosters by occupational risk.

Amusingly, the assiduously pro-Democratic the Washington Post was willing to dismiss this usurpation of “the science” as simply another communications breakdown from the doddering Dems.

“Everyone is kind of confused,” he said. The current discontent has deep roots. In April, Pfizer chief executive Albert Bourla said a third coronavirus dose was “likely” to be needed. In late July, Pfizer-BioNTech announced that their vaccine’s efficacy waned over time. Data from Israel confirmed a drop. Then, last month, as the delta variant of the coronavirus surged and the World Health Organization decried the distribution of third shots in wealthy countries while poor countries were lacking first doses, President Biden announced that most Americans could begin getting boosters of the Pfizer and Moderna vaccines Sept. 20 — subject to the government’s regulatory processes, which unfolded in recent days and focused only on Pfizer. Regulators already allowed third shots for the immunocompromised who have received Pfizer or Moderna shots but have not yet made recommendations for all recipients of the Moderna and Johnson & Johnson vaccines.

The deluge of phone calls about booster shots to Primary Health clinics in Southwestern Idaho began weeks ago. On Friday morning, the group’s Garden City clinic, where Maddie Morris fields inquiries, saw an increase in calls, mostly from senior citizens.

“The calls seem pretty nonstop,” the customer service representative said. “It seems like a lot of people are anxious to get a booster.”

Doctors say confusion clouds patients’ willingness to receive boosters. In Idaho, the problem coincides with the primary health-care system’s struggle to meet the demands of the latest covid-19 crush, which earlier this month plunged the state into crisis standards of care — essentially the rationing of health care as demand overwhelms resources.

Unfortunately for them, it looks like the whole thing is back-firing…

Maybe they’ll think twice next time around (though we doubt it, since ‘next time’ is literally happening in the coming weeks when they do this all again with Moderna).

end

Canadian nurse whistleblowers say many people are dying after getting vaccines while hospitals are filled with the fully vaccinated

Bypass censorship by sharing this link:
 
Image: Canadian nurse whistleblowers say many people are dying after getting vaccines while hospitals are filled with the fully vaccinated
 

(Natural News) Two Canadian nurses have turned into whistleblowers and told reporters what they have seen during the Wuhan coronavirus (COVID-19) pandemic. This includes people dying after getting vaccinated and hospitals filled with fully vaccinated people suffering from COVID-19.

Erica Beardsley, from the small town of Pontiac in the Canadian province of Quebec, was a nurse for 11 years. She recently resigned after her employer mandated that she get vaccinated.

At an anti-vaccine mandate protest in Canada, she spoke with a reporter about the gruesome things she has seen as a nurse during the COVID-19 pandemic.

“I’ve physically seen people restraining the elderly and vaccinating them against their will while they scream ‘No,’” said Beardsley. “I’ve seen patients coming in with suicide and … once they’re dead, they are testing them for COVID. Why? Why are we testing them for COVID?”

“I’ve witnessed a lot of people dying of heart attacks shortly after the vaccine,” she continued. “I’ve witnessed miscarriages at full-term five days, four days, after the vaccine.”

Beardsley explained that this is a surprisingly common occurrence even though she comes from a town of just around 5,000 people.

“I’m in a little hospital, a small hospital. I’ve worked on every floor,” said Beardsley. She said she has worked in long-term care, general care, the emergency department and even for her hospital’s external clinic. “I saw it all.”

“I have nothing to lose, nothing to hide. They wanted to mandate the vaccine on me and I refused. (Related: Hawaii health care whistleblower says he has seen more people die from COVID-19 vaccines than from the virus.)

Another nurse working in St. Michael’s Hospital in Toronto claims the hospital is filled with fully vaccinated COVID-19 patients.

“Are the hospitals full of COVID patients,” asked one reporter.

“The hospitals are pretty much full of people that have been vaccinated,” answered the nurse. “They’re returning to the hospital due to their vaccinations.”

“So you’re telling me that people who got vaccinated are in the hospital right now?” asked the reporter.

“Yeah, not just in St. Michael’s, but all over the world,” said the nurse. “That’s what’s coming back to the hospitals this time of year, when the hospitals should be at their lowest, are people that are vaccinated.”

END

This is a must must view: Dr Robert Malone and Dr Geert VandenBossche

FYI-Covid-19

 
 
 
 
end
Antivaxxers bring streets of Newcastle to a standstill
(Daily Mail)
 
 
 
 

Anti-vaxxers bring streets of Newcastle to a standstill | Daily Mail Online

 
GLOBAL ISSUES
 
LA PALMA VOLCANO ERUPTION

“Take Cover” – Acid Rain From Canary Islands Volcano To Reach Europe

 
SATURDAY, SEP 25, 2021 – 07:35 AM

Acid rain caused by sulfur dioxide gas spewing from the volcano in Spain’s Canary Islands of La Palma will reach Europe this weekend. 

Lava flows from the Cumbre Vieja volcano is releasing thousands of tons of sulfur dioxide gas into the atmosphere, and mixing with clouds will fall downwind towards France and the Mediterranean basin. 

The volcanic eruption emits between 7,997 and 10,665 tons of sulfur dioxide per day and may last between one and three months. Areas downwind are at risk of acid rain, posing health issues for humans and animals by aggravating pre-existing respiratory illnesses. There’s also the risk it may damage crops and contaminate drinking water. 

The latest activity of Cumbre Vieja this week was a new fissure that emerged on Monday and produced additional lava flows that resulted in 500 islanders evacuating.

Volcanologists expect Cumbre Vieja to continue producing similar behavior in the coming days and weeks, which means Europe might receive additional rounds of acid rain. Once the pressure in the magma chamber goes down, lava will stop flowing. 

 
 
END
 
Hal Turner Radio
WorldNewsDesk
 

Heat Sources Detected off LaPalma Coast; Thousands Fleeing Island by Boat After Airport Closes

 
Heat Sources Detected off LaPalma Coast; Thousands Fleeing Island by Boat After Airport Closes

Thousands of people are now fleeing the Island of LaPalma as the volcanic eruption there continues to grow worse.  New heat sources appeared in the ocean off the island’s coast, and this expansion of the eruption is sending thousands to piers, trying to flee the island.

New heat reports from Europe’s “Sentinel 1” satellite show heat bloom coming from the ocean beneath LaPalma:

Island authorities are to install heat sensors to try to determine how vast the lava expulsion is, that’s taking place underwater.

The troubling aspect to this is clear: If the volcano is erupting a mile from shore up on the hill, and is now also erupting out in the ocean, then the entire area between those two points is clearly subject to the eruption, and that could cause the island to literally SPLIT APART.

Residents and tourists on LaPalma have been slowly and steadily leaving the island for days, via the airport.  But the airport had to close this week because smoke, volcanic ash, and sulfur dioxide vapor has made flying dangerous.

Once the airport had to shut down, people starting heading to the piers to leave by boat, but the flow was manageable . . . until today.

When the heat blooms registered in the ocean, it caused a very big uptick in people trying to leave.  Here is what the departure pier looks like today:

Better late than never, but things are only getting worse on the tiny island.

As shown above in the Municipality of El Paso, the only option for those who have seen their flights canceled and others who now want to leave, is to get on one of the boats that leave the port.

The surge of passengers has led the two shipping companies that operate with La Palma to increase the number of ships that cover the route between Santa Cruz de La Palma and the Los Cristianos dock, in the south of Tenerife.

Wil the eruption cause the island to split in half? No one knows.  These people are not staying to find out

 

end

Canary Islands Volcano Enters ‘New Explosive Phase’, Suspending All Flights

 
SATURDAY, SEP 25, 2021 – 11:45 AM

The volcano on the Spanish island of La Palma entered a new explosive phase as an eruption intensified Friday into Saturday, according to Reuters

The Cumbre Vieja volcano first began erupting last Sunday, so about a week ago, spewing thousands of tons of lava, destroyed hundreds of homes, and displaced more than 6,000 people. 

But while the news cycle for the volcano simmered down by mid last week – it appears to have regained attention due to La Palma officials warning: 

“Volcanic surveillance measurements carried out since the beginning of the eruption recorded the highest-energy activity so far during Friday afternoon.” 

A video shared on Twitter shows the volcano unleashing a massive shockwave. 

As a result of the smoke and ash, Spanish airport operator Aena announced that the island’s airport suspended all flights on Saturday. 

“La Palma airport is inoperative due to ash accumulation. Cleaning tasks have started, but the situation may change at any time,” it tweeted.

Spanish carrier Binter said, “it is not yet possible to say when we can resume flights.” 

No casualties have been reported so far, but building structures’ damage is expected to be nearly half a billion dollars and climbing. 

The latest round of heightening activity from Cumbre Vieja has sparked concerns from government officials, such as the committee spokesperson for the Canary Islands Volcanic Emergency Plan (Pevolca) and director of the National Geographic Institute (IGN) in the Canary Islands, Maria Jose Blanco, who warned a partial or total collapse of the volcanic cone is possible, according to The Canary News

There’s no telling how long the eruption could last, but some volcanologists have said anywhere between a few weeks to a couple of months. 

end

Small Landslides Beginning on LaPalma

 
Small Landslides Beginning on LaPalma

The west coast of the island of La Palma , where a week ago the eruption of a new volcano at Cumbre Vieja began, saw a SMALL, but spectacular, falling of rocks to the sea Sunday morning.

The event occurred at around 12:30 pm local time, on a cliff near the town’s port.

There was no earthquake at the time of the landslides, but there have been almost constant volcanic tremors and vibration caused by the massive movement of lava underground.

The fact that these small landslides are happening is a bad sign.  The fact they are happening on the coastline where there is NO LAVA FLOW, is a much worse sign, because it shows us how unstable the western flank of the island has actually become.

Lava is erupting about mid-altitude on the 6,000 foot tall sloping flank.  Now landslides are happening all the way down at the waters edge.  That might tell a logical person that the entire flank is beginning to shift toward the sea.

If that flank slides into the sea, it will generate s tsunami that can, about 7 hours later, hit the entire US east coast.

The size and duration of that tsunami is open to wide discussion, but the occurrence is not open for discussion.  If the land slides, a tsunami will take place.

Persons on the US east coast should keep very close watch on this situation today, and consider moving inland by 50 to 100 miles, in the event of a large landslide on LaPalma.  Don’t wait for authorities to tell you, do ti once you find out a large landslide ahs taken place.

Once authorities start telling the public to relocated, there will be panic and mayhem.  Roads will clog and become almost instantly impassable.

Have you car fueled-up, a “go-bag” with clothes, medicines, canned food and can opener, a map and some place to evacuate to.  Have this done in advance.

You DO NOT want to be one of the “masses” waiting in long lines to get gasoline in your car, or hurrying around looking for what to pack, while the roads fill up making it impossible for YOU to get out.

end

Michael Every on the most important stories of the day.
Michael Every…

Rabobank: The Supply-Chain Architecture Is Buckling Globally

 
MONDAY, SEP 27, 2021 – 02:31 PM

By Michael Every of Rabobank

There are decades where nothing happens; and there are weeks where decades happen.” – Lenin

The German election so far look like a stalemate, with a long period of wrangling to form a government – all very normal for the EU. However, the majority voted for ‘nothing happens’: multilateralism, rule by phytosanitary standards committees, a mostly balanced budget, and a vast trade surplus. Muddling-through-mercantilism may be welcome in Berlin, but it’s unhealthy for Europe: as one author argues“…bureaucratic excesses were precisely what Weber theorised and warned against, considering them as corrosive to democracy as fascist tendencies…. Angela Merkel’s legacy is that of a reliable, capable, dutiful ‘civil-servant-in-chief’, not that of an imaginative political leader.” Moreover, Germany is already strategically weaker than pre-Merkel —think Nord Stream 2, US relations, and whatever its China position is– which will make a continuation of the last 15 years of successful stagnation much harder to sustain going forwards.

Elsewhere, decades are happening. Friday saw the first Quad meeting, where the US, India, Japan, and Australia agreed on an agenda including: donating more than 1.2bn vaccine doses globally; a Quad Infrastructure Coordination Group; a new Green-Shipping Network; a Clean-Hydrogen Partnership; bringing exceptional STEM students to the US; collaboration on critical and emerging technologies via joint technical standards, 5G, technology supply chains and key mineral resources; and cybersecurity and space cooperation. Military cooperation goes without saying. Geostrategist Luttwak argues power is a function of scale (GDP, population, military, and R&D) multiplied by political cohesion. As last week’s ‘Orcs’ snapshot showed, the Quad (and the UK in AUKUS) has all four – and cohesion in key areas. The global architecture is changing, and rapidly shifting away from a Europe lacking both focus and cohesion.

Friday also saw the US allow Huawei CFO Meng Wanzhou to return to China in exchange for an admittance of wrong-doing, which will be used in the ongoing case against the firm; within minutes of that shock, it was announced the two Canadians who have been prisoners in China for three years were also on a plane back home. Notably, Meng arrived to a massive hero’s welcome, with tub-thumping nationalist mass-media coverage. Markets will try to shrug this off as, but as Rory Medcalf, professor and head of National Security College at ANU tweeted: “Is there any corporation or employer in the world that still pretends to itself and its staff that there is not a risk of hostage taking, when China has now proclaimed that reality?” Do you not think that this might just impact FDI, then trade flows, and then financial flows?

On the latter point, Friday also saw China make crypto illegal. Not possession – but any kind of transaction or service. The whisper: decks are being cleared for the entry of the digital CNY, which will be launched against a geopolitical backdrop full of talk of ‘launches’. (As the Evergrande crisis rolls on, Forbes talks of ‘China’s Myth of Infallibility’, and Niall Ferguson writes on ‘China’s Crisis’ via Bloomberg.) Again, the global architecture is changing.

Perhaps, so is the infrastructure. In the US, it appears that this is to be Build Back Better week – or maybe not. House Speaker Pelosi is apparently to try to pass both an increase to the debt ceiling, and a stop-gap spending bill, and the $1.2trn infrastructure bill, and the $3.5trn Build Back Better bill. Are the votes there? The extreme options appear to be either government shut down, or massive government expansion. Watch this space.

In the UK, it is a case of Anyone-Could-Do-Better, as fuel runs out, panic sets in, and supermarket shelves empty. The government is being blamed for not planning for the shortage of fuel caused by a global shift away from US shale that no expert saw the impact of ahead of time. (For more detail on this energy-price shock, see “Gasflation”.) They are also being blamed for not having recruited 100,000 new truck drivers to replace those who have retired due to long hours and a change in the tax system, or returned to Europe post-Brexit. Some also blame UK trucking firms for not increasing wages to fill a huge gap: cynics suspect the firms knew a crisis would occur, and moves then be made to bring in cheaper foreign drivers. Indeed, opposition Labour think new drivers can just be brought back in from the EU to fill gaps as needed, when there is a shortage of drivers there too, and in the US – and even China is seeing major power cuts in industrial areas. In the UK, it seems the army are going to be called in to keep the economy moving. Expect more that kind of thing in many places – as the Quad/AUKUS alludes to.

The supply-chain architecture is buckling globally: imagine what trillions of new US stimulus will do given no goods to supply to it, no free infrastructure to deliver them, and no cheap energy to back the production of such goods. No army would favour our globalised logistics given how vulnerable they have proven to be to a shock; and when even US tech giant Intel says ‘It’s Time to Build a More Geographically Diverse Supply Chain’, you know the zeitgeist is changing. However they, like Elon Musk, still see China as a key link regardless of talk of hostage taking or common prosperity Marxism-Leninism. That doesn’t mean we won’t see lots of different, localized supply chains though, rather than a single log-jammed global one – the message Germans least wanted to think about while voting.

Meanwhile, as the Fed says inflation is transitory because they have no idea how logistics operate, a senior Fed economist slams it for relying on propositions “that ‘everyone knows’ to be true, but that are actually arrant nonsense,” without “any sort of empirical foundation,” including inflation expectations; says it was a source of concern if “dubious but widely held theories” lead to consequential policy decisions; and adds in a footnote: “I leave aside the deeper concern that the primary role of mainstream economics in our society is to provide an apologetics for a criminally oppressive, unsustainable, and unjust social order.” Well, yes. But how about pointing out that neoclassical economic models excludes credit, so GDP ‘just happens’ without any money-flows? The whole edifice is “arrant nonsense” if you take a step back and look at it.

Yet against that backdrop, and despite recent experience with Covid’s outright monetary financing, the UK Labour party now agrees with the government that it is time to drop the “Magic Money Tree” (MMT) and “rebuild the public finances” – bang in line with predictions we made early last year that after every major war we get a recession, because politicians reign in spending and ‘lose the peace’; and that wasn’t the most surreal part of Andrew Marr’s interview with the Labour leader yesterday.

That particular lowlight was only matched by Friday’s official UN TikTok video explaining how the General Assembly works. I would love to now see the UN’s “interpretive dance” that explains to ‘the kids’ what is going on with supply-chain shocks, power cuts, food crises in poorer countries, Cold War struggles for new supply chains and tech supremacy, hostage taking, and fears over nuclear proliferation in the Middle East and Indo-Pacific.

You probe with bayonets: if you find mush, you push. If you find steel, you withdraw” – Lenin

end 

7. OIL ISSUES

 

end

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////  NEW ZEALAND//COVID/VACCINES

 

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

Euro/USA 1.1694 DOWN .0019 /EUROPE BOURSES /ALL RED

USA/ YEN 110.99  UP  0.399 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3695  UP   0.0032  

 

USA/CAN 1.2657  UP .0023  (  CDN DOLLAR DOWN 23 BASIS PTS )

 

Early MONDAY morning in Europe, the Euro IS DOWN BY 19 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1694 Last night Shanghai COMPOSITE CLOSED DOWN 30.24 POINTS OR .84% 

 

//Hang Sang CLOSED UP 16.62 PTS OR 0.07% 

 

/AUSTRALIA CLOSED UP 0.54% // EUROPEAN BOURSES OPENED ALL GREEN

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL GREEN

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED UP 16.62 PTS OR 0.07% 

 

/SHANGHAI CLOSED DOWN 20.24 POINTS OR .84% 

 

Australia BOURSE CLOSED UP 0.54%

Nikkei (Japan) CLOSED DOWN 8.75 PTS OR 0.03% 

 

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1749.65

silver:$22.60-

Early MONDAY morning USA 10 year bond yr: 1.490% !!! UP 4 IN POINTS from FRIDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.01 UP 3  IN BASIS POINTS from FRIDAY night.

USA dollar index early MONDAY morning: 93.42 UP 9  CENT(S) from FRIDAY’s close.

This ends early morning numbers MONDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  MONDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.32%  UP 0  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.056% UP 1/10   BASIS POINT from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.42%//  UP 1  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.80  UP 1    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 38 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.220% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 0.99% 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  MONDAY

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

Euro/USA 1.1703  DOWN    0.0011 or 11 basis points

USA/Japan: 110.97  UP .372 OR YEN DOWN 37  basis points/

Great Britain/USA 1.3712 UP .0049// UP 49   BASIS POINTS)

Canadian dollar DOWN  9 basis points to 1.2643

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP).. 6.4570 

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)..6.4588

TURKISH LIRA:  8.82  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.056%

Your closing 10 yr US bond yield UP 3 IN basis points from FRIDAY at 1.481 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.992 UP 1 in basis points on the day

Your closing USA dollar index, 93.39 UP 6  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 MONDAY: 12:00 PM

London: CLOSED UP 11.92 PTS OR 0.17% 

 

German Dax :  CLOSED UP 12.45 PTS OR 0.19% 

 

Paris CAC CLOSED UP 12.45  PTS OR  0.19% 

 

Spain IBEX CLOSED  UP 129.80  PTS OR  1.46%

Italian MIB: CLOSED UP 162.40 PTS OR 0.63% 

 

WTI Oil price; 75.46 12:00  PM  EST

Brent Oil: 79.46 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    72.45  THE CROSS LOWER BY 0.06 RUBLES/DOLLAR (RUBLE HIGHER BY 6 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.22 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 : 75.42//

BRENT :  79.45

USA 10 YR BOND YIELD: … 1.486.. UP 3 basis points…

USA 30 YR BOND YIELD: 2.002  UP 2  basis points..

EURO/USA 1.1698 DOWN 0.0015   ( 15 BASIS POINTS)

USA/JAPANESE YEN:110.99 UP .401 ( YEN DOWN 40 BASIS POINTS/..

USA DOLLAR INDEX: 93.40  UP 8  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3704 UP .0041  

the Turkish lira close: 8.83  UP 6 BASIS PTS//EXTREMELY DEADLY

the Russian rouble 72,55  DOWN .04  Roubles against the uSA dollar. (DOWN 4 BASIS POINTS)

Canadian dollar:  1.2627 UP 7 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.22%

The Dow closed UP 71.37 POINTS OR 0.21%

NASDAQ closed DOWN 77.73 POINTS OR 0.52%

VOLATILITY INDEX:  18.41 CLOSED UP 0.66

LIBOR 3 MONTH DURATION: 0.132

%//libor dropping like a stone

USA trading day in Graph Form

Bond Bloodbath Batters Big-Tech As Small Caps Surge On Short-Squeeze

 
MONDAY, SEP 27, 2021 – 04:01 PM

Futures were all positive overnight, but as the European session started, selling pressure in stocks began with Nasdaq notably underperforming into the US cash open. At the equity open, things went just a little bit turbo as Small Caps exploded higher and Big Tech tumbled…NOTE things weakened a little into the close (after Fed’s Kaplan joined Rosenburg in retirement)…

Today’s surge in Small Caps relative to Nasdaq was the largest divergence since March and pushed the pair up to significant resistance…

Biggest short-squeeze in 6 weeks today…

Source: Bloomberg

Just as we noted earlier, 4430 was the key level for the S&P today…

But it was the rotation from growth to value that really stood out – and it all happened at the open…

Source: Bloomberg

And if real yields are to be believed, we should expect considerably more underperformance of tech relative to small caps from here (or a collapse in yields)…

Source: Bloomberg

Nasdaq 100 is on course for its worst month since October 2020…

Source: Bloomberg

Energy and Financials outperformed while Tech and Utes were the laggards. BUT note that all the price action occurred around the open with no follow-through buying during the day

Source: Bloomberg

But we can still hear all the freshly minted stock trading experts cry…

Treasury yields made lots of headlines today, extending the carnage from last week with a wall of selling starting as Europe opened. Chaos hit the TSY market around the Durable Goods data and the cash equity open, but it was the belly that underperformed…

Source: Bloomberg

30Y Yields topped 2.00% (spiking to almost 2.05% intraday), but hit resistance there again and ended back below 2.00%…

Source: Bloomberg

10Y Yield rose above 1.50% – its highest since June – but was also unable to hold it and closed below 1.50%…

Source: Bloomberg

The dollar ended unchanged, having chopped around all day (remaining well within the range created during The Fed day moves)…

Source: Bloomberg

Cryptos have has a wild ride over the last few days, plunging on China’s “ban” then recovering most it and then fading a little today…

Source: Bloomberg

WTI continued to its rise, back up near early July highs at almost $76 for the front-month…

NatGas futures surged once again, topping the mid-month highs to its highest since Feb 2014…

Source: Bloomberg

And NatGas vols are exploding…

Source: Bloomberg

And gold was unchanged…

Finally, despite all the jawboning from Washington, Friday’s optimism about getting a debt ceiling done in a timely manner has evaporated with the kink in the Bill curve now at its widest in this cycle…

Source: Bloomberg

What will it take to get all the Democrats to line up? a 20% plus drop in stocks maybe?

Source: Bloomberg

i) MORNING TRADING

Bond Bloodbath Continues: 30Y Yield Tops 2.00%, 2Y Yield Highest Since March 2020

 
MONDAY, SEP 27, 2021 – 08:59 AM

Following the hotter than expected durable goods headline data, 30Y Yields briefly spiked up to almost 2.05%, but fell back on the core data – although they are still holding above 2.00%

Source: Bloomberg

This has been a key level to watch in recent months…

Source: Bloomberg

The short-end of the curve is really suffering with 2Y back above Fed Funds and at its highest level since March 2020 (and 10Y back above 1.50%)…

Source: Bloomberg

Notably, tech stocks are unhappy at this sudden surge in rates (growth) while value stocks are outperforming…

And have further to go if real yields are to be believed here…

So are rising rates a ‘good’ thing? Can the broad market hold up in the face of growth’s collapse? We are sure Eric Rosengren has the answers.

ii)  USA///INFLATION WATCH//SUPPLY ISSUES

end

USA ECONOMIC DATA

Core durable goods orders disappoint in August.

(zerohedge)

 

Core Durable Goods Orders Disappoint In August

 
MONDAY, SEP 27, 2021 – 08:38 AM

After July’s disappointing dip, US Durable Goods Orders were expected to rebound in early August data released today, and rebound they did with a big 1.8% MoM bounce (vs +0.7% expected), and July’s 0.1% drop was revised up to a 0.5% MoM rise..

Source: Bloomberg

That is the 4th straight monthly improvement in the headline durable goods orders print, and pushes it back above pre-COVID levels…

Source: Bloomberg

However, core durable goods (Ex Transports) disappointed, rising only 0.2% MoM vs +0.5% MoM expected – the weakest since February…

Source: Bloomberg

The headline print’s beat was dominated by a 77% surge in non-defense aircraft and parts new orders.

IMPORTANT USA/CONTAINER LOGJAMS//shortages

Containers Quickly Pile Up At US Rail Terminals, Add To Port Strains

 
FRIDAY, SEP 24, 2021 – 07:00 PM

The US continues to face an unprecedented shipping crisis as logjams at ports and railyards continue to worsen with no relief in sight. 

The increasing volume of containers, combined with a labor shortage of dockworkers and truck drivers, rail and storage capacity, have left shipping networks with huge congestion problems that continue to increase.

Currently, more than 100 container ships are waiting to enter US ports from coast to coast. Some of the largest congestion is in San Pedro Bay off the port of Los Angeles, with more than 61 vessels waiting to enter. Dwell time for vessels is six days, the wait time for on-dock rail is nearly 16 days, and then it takes an additional week to move the container on the street to warehouses. 

What’s caught our attention is import congestion at railyards. Using data from Hapag-Lloyd AG, one of the world’s top shippers, we find that container dwell time at 11 major railroad terminals averages 9.8 days this month, up from 6.7 days in May and 5.9 days in February. 

 

Source: Bloomberg

Noted above, the port of Los Angeles has the highest wait times out of all railyards. Delays are also increasing in Charleston and Detroit. 

We recently said port officials had extended operating hours at truck gates to reduce a massive backlog of containers piling up retail, manufacturing, and agricultural supply chains. 

Hapag-Lloyd said the delays at Los Angeles and Long Beach ports are the most extreme and would “continue for the remainder of the year.” 

Bloomberg points out that increasing demand for imports mixed with labor shortages of truck drivers is a very severe issue plaguing major companies’ supply chains, such as packaged good giant General Mills Inc.

“So we have hundreds of disruptions in our supply chain literally, and it really changes on a daily and weekly basis,” said Jonathon Nudi, group president of North America retail at General Mills. “The bulk of our discussions right now with retailers are really around service and making sure that we can ship the product that our consumers are ultimately looking for.”

Import congestion appears to be worsening, and the focus is now on railyards.

end 

iii)a) Important USA Economic Stories

Downtown images of Chicago Friday

Glennon//Wirepoints.org

“It’s A Ghost Town” – Shocking Images Show Downtown Chicago “Depressingly” Empty During Day

 
FRIDAY, SEP 24, 2021 – 06:40 PM

Authored by Mark Glennon via Wirepoints.org,

“Have you been downtown lately? It’s nearly empty.”

Canal Street

We hear comments like that more and more often from alarmed readers in the Chicago area. We see it, too, and it’s worsening. So we’re putting up a few pictures for those who haven’t visited lately, and adding the perspective of one downtown restaurant owner.

We took the pictures downtown on Thursday between 9:30 AM and 1:30 PM.

Things seemed to be improving a bit over the summer, but no longer.

Is it COVID, crime or the new trend to remote working?

The recent surge in COVID began in the first week in July, and that’s undoubtedly a major cause. The trend toward remote work is real and may be permanent. But crime seems to be increasingly on people’s minds.

Adams Street

I checked in with somebody who is a kind of real time barometer of downtown activity. That’s Jesse Boyle, who owns two restaurants in the Ogilvie Transportation Center – Station Restaurant and Bar and Vinny’s Pizza Bar. Ogilvie is the primary commuter train station in downtown Chicago, so Boyle has a pretty good feel of the pulse of downtown activity.

“In the spring and summer I was anticipating things to really come back after Labor Day,” Boyle told me.

“I was hearing a lot of companies were scheduling their employee returns for the fall, and my group was excited to get closer to normal,” he says.

And he had put his money where his hopes were, completing major renovations.

“But there are two things that have converged,” Boyle says, that have set things back.

“One is that the Delta variant has taken away a lot of that early enthusiasm for work gatherings and people getting reacquainted.”

“A very close second” is crime, as Boyle sees it.

“Overall crime is up again, and the stories we’re hearing and reading about suggest that downtown is not as safe as it used to be.

It’s confluence of those causes, and whatever else has drained people from downtown, that’s most deadly. You can feel it, and it feeds on itself.

“It’s a ghost town feeling that you have just walking down any downtown street,” as Boyle puts it.

“It makes you a little uneasy, and it’s kind of shocking to me that we continue to see this for such an extended period. The offices are empty, and the energy is gone.”

Jackson Street

Boyle went on:

It wasn’t like that prior to last year, and I’m hopeful that our city government pulls it together and helps us fix this. I’ve seen a sales dip from July to August, which is unusual.  Things in September continue to be flat or down from August.

Just having more people around downtown will make all of us feel better, but at this point I have no sense of direction on when that will happen.  As a business owner this is very dispiriting and depressing.

Our hearts are out to Boyle, his employees and all the others like them, in downtown Chicago and all places suffering like it.

State Street

This cannot go on. Chicago as we’ve known will not survive with as few people downtown as there are. And Illinois cannot survive without Chicago.

end

b)USA COVID/VACCINE UPDATES

This is to be expected:  New York hospitals are preparing for a staffing crisis as vaccination mandate forces mass firings.

(zerohedge)

“This Is Completely Avoidable” – New York Hospitals Prepare For Staffing Crisis As Vaccination Mandate Forces Mass Firings

 
SUNDAY, SEP 26, 2021 – 09:00 PM

With President Biden’s federal vaccine mandate set to take effect on Monday, health-care systems around the country are suspending elective in-patient surgeries and refusing to accept ICU patients from other hospitals as they brace for potentially hundreds of firings of nurses and other critical staffers, potentially even doctors.

According to the NYT, the Erie County Medical Center in Buffalo is planning to do all that and more, as it says it may soon fire about 400 employees who have chosen not to get the single job required by the edict (which was pushed through despite being blocked by a federal judge).

Similarly, officials at Northwell Health, the state’s largest health-care provider, estimate that NWH might be forced to fire thousands of people who have refused to get vaccinated.

In an economy with more job openings than workers – 2.2MM more, to be exact – forcing workers to choose between employment and their health or religious compunctions simply isn’t a smart idea.

Without even a hint of self-awareness, the governor apparently agrees: “What is looming for Monday is completely avoidable, and there’s no excuses,” Ms. Hochul said, pleading for those who have not done so to get vaccinated,” Hochul said during a weekend press briefing.

But we digress.

The situation is less dire in NYC, but there will still be plenty of hospitals left with massive staffing holes after mass-firings.

The city’s largest private hospital network, NewYork-Presbyterian, has more than 200 employees who may face termination because they haven’t received at least one jab.

Of course, as we have pointed out in recent posts, health-care workers are only a fraction of the worker who will be impacted by shortages across the economy. In California, nurse shortages have reached crisis levels in California, airlines are seeing flights frequently cancelled due to worker shortages.

As of late September, 84% of NY’s 450,000 hospital workers and 83% of nursing home workers – which number around 45,400 – remained unvaccinated. 

Despite being directly threatened by their superiors, most say they’re refusing the jab on religious or health grounds, or because they’re allergic to certain ingredients.

In an effort to scare workers into compliance, NY Gov. Kathy Hochul has threatened to find “foreign workers” to staff the Empire state’s hospitals and care homes (despite the fact that vaccination rates are much lower in most of the world outside the US).

She has also threatened to call in the National Guard or order a state of emergency in a plan unveiled over the weekend.

NY’s teachers are also facing a mandate to either get vaccinated or kiss their jobs goodbye. Roughly 10,000 public school workers, that’s compared to 75K teachers and tens of thousands of other employees from custodians to paraprofessioanls.

Circling back to hospitals and care homes, institutions like Northwell are being relatively parsimonious with their exemptions for religious and health reasons, But some are getting through .

NY’s emergency order doesn’t stipulate how exactly hospitals and nursing homes should enforce it, and there’s a good chance that hospitals serving communities in greater need will be forced to make exceptions. Black and Hispanic New Yorkers have gotten the jab in far lower numbers than white new Yorkers. The NYT points out in its story that some hospitals in the Bronx see unvaccinated rates among doctors and nurses reaching into double-digit territory.

At St. Barnabas Hospital in the Bronx, about 12 percent of the nearly 3,000 employees had not been vaccinated as of midday on Friday, the chief medical officer, Eric Appelbaum, said in an interview. The group includes roughly 3 important doctors, and plenty of badly eed studiws

Anecdotally hospitals are reporting a surge in vaccinations among hospital workers who haven’t yet been vaccinated. But who knows what to believe. All we know is that we wouldn’t want to be having an elective surgery or delivering a baby in NY right now.

end

Plans are being formed to protest against the vaccine mandate in Ohio.

Ohio State Police “Aware And Monitoring” Possible Truck Protest Against Vaccine Mandate

 
MONDAY, SEP 27, 2021 – 10:41 AM

The Ohio State Highway Patrol (OSHP) is preparing for a possible disruption Monday morning during rush hour of truck drivers shutting down parts of the interstate in protest over mask and vaccine mandates, according to local news Fox 19

Dubbed the “#patrioshutdown,” the movement has spread on various social media platforms and is expected to begin Monday morning and last for several hours on a stretch of highway in Ohio. 

“The Patrol is aware and monitoring the situation closely to ensure roadways are safe to travel. For security reasons we cannot go into further detail at this time,” Sgt. Christina Hayes with OSHP. 

Hamilton County Prosecutor Joe Deters said any trucker that takes part in the expected protested today with be charged with a felony:

“My office has learned there are plans to shut down the highways, nationwide, on Monday to protest vaccine mandates.

I want to be perfectly clear. Anyone who attempts to shut down the highways in Hamilton County will be removed from their vehicles, charged with felony Disrupting Public Services, and they will go to jail.

To those who claim to be supportive of law enforcement – law enforcement is not with you. This would pose a serious danger for our first responders and the community at large.

I have always been supportive of a citizen’s First Amendment right to protest. But, this is not lawful and it is reckless. It will not be tolerated.”

Truck drivers aren’t the only ones furious with their employers’ decision to enforce a vaccine mandate. Federal workers just recently sued the Biden administration over the vaccine mandate. 

end

Is this any surprise to you:  despite being over 95% vaxx’d Harvard business School sifts to online classes after a substantial outbreak of Delta.

(zerohedge)

Despite Over 95% Vaxx’d, Harvard Business School Shifts Classes Online After “Substantial Outbreak” Of COVID

 
MONDAY, SEP 27, 2021 – 02:50 PM

Is Zero-COVID come to the Ivy League?

Poets&Quants has learned that Harvard Business School (HBS) has moved its first-year and some second-year MBA students to remote learning after an outbreak of COVID. 

“In recent days, we’ve seen a steady rise in breakthrough infections among our student population, despite high vaccination rates and frequent testing,” Mark Cautela, head of communications for HBS, told Poets&Quants.

“Contact tracers which have worked with positive cases highlight that transmission is not occurring in classrooms or other academic settings on campus. Nor is it occurring among masked individuals.” 

Cautela continued:

“With the support of Harvard University leaders, advised by city and state public health officials, we have decided to move all first-year MBA students, and some in the second year, to remote learning for the week of 9/27 to 10/03.”

Howard Foreman, a professor in the practice of management at Yale School of Management and a medical doctor who also teaches in Yale’s School of Public Health, tweeted days ago that Harvard was facing a “substantial outbreak.” 

Foreman tweeted Sunday night that the “outbreak” continues to worsen with “11 new graduate students testing positive in the last batch of tests.” 

There is no data on whether any of the positive-tested students were symptomatic in any way… or if any were hospitalized.

What’s remarkable is that most college students and staff at Harvard (95% students and 96% employees) are vaccinated against the coronavirus.

Is Harvard therefore implicitly admitting that vaccine effectiveness has waned to the point of total ineffectiveness?

Harvard has requested students to limit in-person interactions with others outside their household, move all group meetings online, and cancel group activities.

So, despite all the promises of a ‘return to normal’ if only everyone were vaccinated (which in this case they are), it appears elite higher education in 2021 is no different from elite higher education in 2020… and certainly not any cheaper.

end

Penn State Unviersity suspends students who fail to get their weekly COVID 19 test which hardely works in the first place.

(Brelje/Epoch Times)

Penn State University Suspends Students Who Failed To Get Weekly COVID-19 Test

 
MONDAY, SEP 27, 2021 – 03:09 PM

Authored by Beth Brelje via The Epoch Times,

At Penn State University, 117 students have been placed on interim suspension for failure to comply with the university’s weekly COVID-19 testing requirement.

Students at University Park who are subject to required weekly COVID-19 testing and who have missed at least three weeks of testing have been notified by Penn State that they are out of compliance with the university’s health and safety policies and have been placed on interim suspension through the Office of Student Conduct, a statement from Penn State said.

Students on interim suspension may not participate in classes, in-person or remotely; are not allowed on university property; and may not attend any Penn State-sponsored events, programs, and activities, including football games. On-campus students on interim suspension also are temporarily removed from their residence halls.

Students who have not informed the university that they are fully vaccinated receive weekly emails instructing them to complete the required testing. Students who missed two weeks of tests had a registration hold placed on their records, which prohibits them from registering for future courses.

Last week, to keep as many students as possible from being placed on interim suspension, Penn State staff called every student who had three missed tests to assist with any issues the students might be experiencing, the statement said. These efforts brought several hundred students into compliance.

It’s important that both students and employees comply with our testing requirement, and we have done everything we reasonably can to ensure that these students are aware of their obligation and do what they must to honor it,” said Damon Sims, vice president for Student Affairs, in the statement.

The last thing we want is to suspend them. I’m sorry these students did not follow our repeated admonitions and warnings, and I hope they will make the correction necessary. Others should not repeat their mistake, and everyone who can be, should be vaccinated and should upload their data to us as soon as possible.”

Before the start of the fall semester, Penn State announced that students and employees who are not vaccinated for COVID-19 and those who have not shared with the University that they are vaccinated must test weekly throughout the semester, and warned of significant consequences for those who do not comply with required testing.

Human Resources is examining employee testing data to determine the number of faculty and staff who are not in compliance.

Throughout the pandemic, Penn State has strongly encouraged the campus community to get vaccinated for COVID-19, offering incentives to students and employees and hosting clinics for students, the statement said.

Students who have been placed on interim suspension can request that it be rescinded after uploading proof of vaccination status or completing a COVID-19 test on campus. After completing one of those two actions, students can submit an online form to request their interim suspension to be lifted. The interim suspension is in effect until a student is explicitly notified otherwise. It is essential that a student maintain compliance should the action be rescinded. Students will be not be allowed to have an interim suspension lifted a second time.

Students on interim suspension who plan to complete their COVID-19 testing on campus must take the most direct route to the testing site and leave immediately after finishing their test.

iv) Swamp commentaries/

Wells Fargo Tumbles After DoJ Lawsuit Over Fraudulent FX Services

 
MONDAY, SEP 27, 2021 – 01:11 PM

Update: After the initial headlines hit, it has been reported that Wells Fargo reached a $37 million settlement with the U.S. Justice Department over claims it overcharged commercial customers who used the bank’s foreign exchange services.

*  *  *

Just days after Senator Elizabeth Warren demands the bank be broken up, Wells Fargo is facing yet another fraud.

Bloomberg reports that the U.S. claims that from 2010 through 2017, Wells Fargo defrauded 771 customers – many of which were small or medium-size businesses and banks – by charging more than they claimed for foreign exchange transactions.

The government is seeking unspecified civil penalties in the suit, filed Monday in federal court in Manhattan.

WFC shares are down over 3% on the headlines…

And that is on a day when financials are outperforming as rates rise.

We suspect Senator Warren will be writing another letter soon.

end

Just what planet is this dovely doofus on?

Fed’s Evans says he’s worried about economy not generating enough inflation

Sept. 27, 2021 at 8:01 a.m. ET

Chicago Fed president suggests raising inflation target to ‘close to, but above 2%’

Chicago Federal Reserve President Charles Evans, a leading dove on the central bank, said Monday that he’s still worried the economy isn’t going to generate enough inflation in future years.

“I’m more uneasy about us not generating enough inflation in 2023 and 2024 than the possibility that we will be living with too much,” Evans said, in a speech to the National Association for Business Economics.

The Fed’s favorite inflation measure, the personal consumption expenditure index, is running at a 4.2% annual rate in July.

Economists viewed the Fed as shifting to a more hawkish stance at their meeting last week, with the central bankers signaling they will start tapering asset purchases in November and penciling-in the first rate hike coming next year.

Evans said it was likely that the tapering would start soon but said decisions about the path of interest rates “seem much less clear to me.”

Evans seemed to come out against such a quick tightening, warning that the Fed shouldn’t engineer “a quick deliberate retreat to 2%.”

Evans, who is a voting member of the Fed’s interest- rate committee this year, noted the Fed’s new policy framework aims for 2% inflation and will allow for periods of overshooting. It is designed to get the public to expect inflation will average 2% over the long term.

Evans said he doesn’t think the recent spike of inflation satisfies this new criterion.

He noted that financial markets SPX, +0.15% don’t seem to expect higher inflation in future years.

“A 10-year nominal Treasury rate in the range we’ve seen recently simply can’t have a whole lot of expectations of long-run inflation built into it,” he said.

The yield on the 10-year Treasury note TMUBMUSD10Y, 1.501% has been moving higher since the Fed meeting last week but remains well below the 1.75% rate seen in early April.

To convince investors that the Fed is serious about keeping inflation at its target. Evans suggested that the Fed should consider formally aiming for inflation “close to but above 2%.”

Many economists have been pressing for the central bank to raise its target above 2%.

-END-

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

 

 
end
 
Let us close out the week with this offering courtesy of Greg Hunter interviewing Gerald Celente
(Greg Hunter/Gerald Celente)
 

Fight for Freedom or It’s Hell on Earth – Gerald Celente

By Greg Hunter’s USAWatchdog.com (Saturday Evening Post)

Gerald Celente, a renowned trends researcher, is back this time to talk about uniting for the fight for freedom.  If we don’t, we will all be a “slave on the Slavelandia plantation” or worse.  Whether it’s the economic repression or coerced vaccinations, the problem comes from the elite masters and corporations running the world.  You are seeing this in the economy that, under the surface, is stalling out. Celente explains, “Drug store chains, grocery chains, stationery chains, hardware chains, chains, that’s all we are.  We are run by the chain.  So, they don’t care about the general economy.  All they are caring about is boosting the equities, and that’s all they are doing. . . .  The economy is going down already.  It’s not being shown because it not showing up in the markets. . . . Median household income has had its sharpest decline since they have been taking records. . . . The average price of a home now is $365,000, but where is the growth?”

Celente says that since the Covid crisis, mom and pops have been driven out of business leaving market share for big companies.  Celente also says, “Once upon a time, America was called the land of opportunity.  That’s gone, finito, finished.  The bigs are in control of everything.  They run our government.  They run our lives.  It’s banksters, the drug dealers (Big Pharma), the Military Industrial Complex and Big Tech.  So, the markets have nothing to do with reality.”

This is what I am concerned about.  The markets are going to crash, and the economy is in crash mode.  You look at the numbers and you look at the data, and the rich are getting richer.  The rich only got $8 trillion richer in 2020.  So, they are going to take us to war because this thing is going to collapse.  It’s collapsed already.”

There is only one way to fight this evil taking away our rights and forcing vaccines and poverty upon us.  Celente explains, “If we don’t unite under one umbrella to fight this, ‘United we stand, divided we fall,’ it’s the end. . . . I have been crying my heart out because as a visionary, I see the future, and it’s Hell on earth.  We have to unite, and we can’t stop.  That’s the only way I see it because the future that I see now is Hell on earth.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with the publisher of The Trends Journal, Gerald Celente.  (9.25.21)

(There is much more in the 41 min. interview.)

 

 

After the Interview:

There is free information on TrendsResearch.com.

If you want to become a subscriber of The Trends Journal (which is weekly) click here.

This segment is sponsored by Discount Gold and Silver Trading. Ask for Melody Cedarstrom, the owner, at 1-800-375-4188.