OCT 13//STRONG INFLATION NUMBERS SEND GOLD AND SILVER HIGHER: GOLD ROSE $35.35 TO $1793.65//SILVER UP 64 CENTS TO $23,13//GOLD TONNAGE STANDING FOR DELIVERY AT THE COMEX 50.861 TONNES//SILVER STANDING: 9.39 MILLION OZ//COVID COMMENTARIES//VACCINE UPDATES: TWO IMPORTANT COMMENTARIES ON THIS: 1)DELTA FLIGHT CAPTAIN DIES IN MID AIR SOON AFTER RECEIVING VACCINE AND STEW PETERS //MARIA ZACK AND WHISTLEBLOWER//LA PALMA UPDATES: GETTING WORSE BY THE MINUTE///SWAMP STORIES FOR YOU TONIGHT///

 

GOLD:$1793.65 UP $35.35   The quote is London spot price

Silver:$23.13 UP 64  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1756.00
 
silver:  22.61
 
 
 
end
 

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

 

 

PLATINUM  $1022.83 UP  $14.00

PALLADIUM: $2117.80 UP $68.00/OZ 

 

END

Editorial of The New York Sun | February 1, 2021

end

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COMEX DETAILS//NOTICES FILED

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

receiving today  0/0

____________________________________________________________________________________________

TOTAL: 00

 

issued:  0

Goldman Sachs stopped: 00

 

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

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  13,858 FOR 1,385,800 OZ  (43.104 TONNES) 

 

SILVER//OCT CONTRACT

5 NOTICE(S) FILED TODAY FOR  25,000   OZ/

total number of notices filed so far this month 1751  :  for 8,755,000  oz

 

BITCOIN MORNING QUOTE  $55,119 UP 1966  DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$57,167 DOLLARS  UP 4014. 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD  UP $35.35 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.82 TONNES FROM FRIDAY  

 

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  982.72 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 64 CENTS

A HUGE CHANGE  IN SILVER INVENTORY AT THE SLV:  A WITHDRAWAL OF 3.796 MILLION OZ FROM FRIDAY NIGHT

 

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: 

 

546.145  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 167.57 UP 2.91 OR 1,77%

XXXXXXXXXXXXX

SLV closing price NYSE 21.33 UP. 40 OR 1.91%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI FELL BY A FAIR 474 CONTRACTS TO 139,403, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. . WITH OUR $0.15 LOSS IN SILVER PRICING AT THE COMEX  ON TUESDAY
 

OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN , AND BUT WERE  UN(IT FELL BY $0.15)SUCCESSFUL IN KNOCKING OUT SOME SILVER LONGS AS WE HAD A TINY GAIN OF 61 CONTRACTS ON OUR TWO EXCHANGES.WE  ALSO HAD I) HUGE  BANKER SHORT COVERING AS THEY ARE VERY ANXIOUS TO GET OUT OF DODGE!!/WE ALSO HAD  SOME ii) REDDIT RAPTOR BUYING//.   iii)  A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 8.085 MILLION OZ FOLLOWED BY TODAY’S, 25,000 OZ QUEUE JUMP  / v), SMALL SIZED COMEX OI LOSS

 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS – 14
 
SPREADING OPERATIONS(/NOW SWITCHING TO SILVER)

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

WE ARE NOW INTO THE SPREADING OPERATION OF SILVER

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

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

 

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

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (NOV), 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
 
 
OCT
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF OCT:
 
5029 CONTACTS  for 10 days, total 5029 contracts or 25.145million oz…average per day:  503 contracts or 2.515 million oz per day.

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

OCT:  25.145 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON  

 

LAST 5 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 

SEPT. 28.230 MILLION OZ//

 

 
RESULT: , .. , WITH  OUR 15  CENT LOSS SILVER PRICING AT THE COMEX / TUESDAY WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 474  CONTRACTTHE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 535 CONTRACTS( 0 CONTRACTS ISSUED FOR OCT AND  535 CONTRACTS ISSUED FOR DECEMBER) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS
 
 
THE DOMINANT FEATURE TODAY:/TODAY WE HAD A SMALL SIZED GAIN OF 61 OI CONTRACTS ON THE TWO EXCHANGES AS WELL AS E/  HUGE BANKER SHORTCOVERING AS THEY GET OUT OF DODG/// WE HAVE A STRONG INITIAL SILVER OZ STANDING FOR OCT OF 8.085 MILLION OZ FOLLOWED BY TODAY’S 25,000 OZ QUEUE JUMP
 
 

WE HAD 5 NOTICES FILED TODAY FOR 25,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 1177  CONTRACTS TO 484,382 _ ,,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: -219  CONTRACTS.

THE SMALL SIZED DECREASE IN COMEX OI CAME WITH OUR GAIN IN PRICE OF $3.70///COMEX GOLD TRADING/TUESDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE  HAD ZERO LONG LIQUIDATION  AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALED 198 CONTRACTS…..  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 49.667 TONNES, FOLLOWED BY TODAY’S STRONG E.F.P. JUMP TO LONDON OF 3500 OZ//NEW TONNAGE STANDING:  50.8615 TONNES 
 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $3.70 WITH RESPECT TO THURSDAY’S TRADING

 

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

WE HAD A SMALL SIZED GAIN OF 61  OI CONTRACTS (0.615 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1306 CONTRACTS:

CONTRACT  AND JULY:  0; AUGUST: 0 & DEC 1306  ALL OTHER MONTHS ZERO//TOTAL: 1306 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 484,382. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 198 CONTRACTS: 1177 CONTRACTS DECREASED AT THE COMEX AND 1375 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 198 CONTRACTS OR 0.615 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (1177 OI): TOTAL GAIN IN THE TWO EXCHANGES: 198 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) GOOD INITIAL STANDING AT THE GOLD COMEX FOR SEPT. AT 49.667 TONNES FOLLOWED BY TODAY’S RFP JUMP TO LONDON OF 3500 OZ//NEW STANDING: 50.8615 TONNES/ / 3) ZERO LONG LIQUIDATION,4) SMALL SIZED COMEX OI LOSS 5). SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL 

 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

OCT

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF OCT : 17,655, CONTRACTS OR 1,765,500 oz OR 54.91 TONNES (10 TRADING DAY(S) AND THUS AVERAGING: 2035 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 10 TRADING DAY(S) IN  TONNES: 54.91 TONNES

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

THUS EFP TRANSFERS REPRESENTS  54.91/3550 x 100% TONNES  0.89% 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          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           54.91 TONNES

 

 

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

 

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A SMALL SIZED 474 CONTRACTS TO 139,194 AND FURTHER FORM 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 535 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 535  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  535 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 474 CONTRACTS AND ADD TO THE 535 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A SMALL SIZED GAIN OF 61 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 0.305 MILLION  OZ, OCCURRED WITH OUR  $0.15 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)WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED UP 14.83 PTS OR .42%     //Hang Sang CLOSED DOWN 362.50 PTS OR 1.43% /The Nikkei closed DOWN 90.33 PTS OR 0.33%    //Australia’s all ordinaires CLOSED DOWN 0.05%

/Chinese yuan (ONSHORE) closed UP 6.4419   /Oil DOWN TO 79.99 dollars per barrel for WTI and DOWN TO 82.82 for Brent. Stocks in Europe OPENED ALL MIXED   /ONSHORE YUAN CLOSED  UP AT 6.4419 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4490/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

 
 
 
 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 1177 CONTRACTS TO 484,382 MOVING FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS COMEX DECREASE OCCURRED WITH OUR GAIN OF $3.70 IN GOLD PRICING TUESDAY’S COMEX TRADING.WE ALSO HAD A SMALL EFP ISSUANCE (1375 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 OCT..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 1375 EFP CONTRACTS WERE ISSUED:  ;: ,  JULY 0 & AUGUST:  & DEC.  1375 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:   1375 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 TINY SIZED 198  TOTAL CONTRACTS IN THAT 1375 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED COMEX OI OF 1177 CONTRACTS..WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR OCT   (50.8615),

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

SEPT: 11.9160 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- SEPT): 423.205 TONNNES

 

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $3.70

.,AND THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 1.2970 TONNES,ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR OCT (50.8615 TONNES)…  I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.   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 -219   CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT. 

 

NET GAIN ON THE TWO EXCHANGES :: 198 CONTRACTS OR 19,800 OZ OR 0.615 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:  484,382 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 48.43 MILLION OZ/32,150 OZ PER TONNE =  15.07 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1507/2200 OR 68.47% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY 292,497 contracts//    / volume//volume fair/

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 178,942 contracts//poor

 

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

 

OCT 13

/2021

 
INITIAL STANDINGS FOR OCT COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
32,151.000OZ
 
Manfra
 
1000 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
nil
OZ
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
NIL
 
oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
0  notice(s)
0 OZ
 
NIL TONNES
No of oz to be served (notices)
2494 contracts
249400 oz
 
7.757 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
13,858 notices
1,385,800 OZ
43.104 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  0 deposit into the customer account
 
 
TOTAL CUSTOMER DEPOSITS nil oz
 
 
 
We had 1  customer withdrawals
 
Out of Manfra 32,151.000 oz (1000 kilobars)
 
 
total customer withdrawals 32,151.000    oz
     
 
 
 
 
 
 
 
 
 

We had 3  kilobar transactions 3 out of  3 transactions)

ADJUSTMENTS 0//   dealer to customer//

i)JPMorgan:  11,960.172 oz  (372 kilobars)

ii) Manfra: 7812.693 oz (243 kilobars)

 

 

 
 
 
 
the front month of OCT. has an open interest of 2494   contracts for a LOSS of 65 contracts. We had 30 notices served upon yesterday, so we LOST 35 contracts or 3500 oz will NOT stand for delivery in this active delivery month of October 
 
 
 
 
 
 
 
 
 
 
 
 
NOVEMBER LOST 72 CONTRACTS TO STAND AT 1039
.
DEC LOST 1079  TO STAND AT 394,232
 

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

FOR THE OCT 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0  contract(s) of which66  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 OCT /2021. contract month, we take the total number of notices filed so far for the month (13,858) x 100 oz , to which we add the difference between the open interest for the front month of  (OCT: 2494 CONTRACTS ) minus the number of notices served upon today  0 x 100 oz per contract equals 1,635,200 OZ OR 50.8615 TONNES) the number of ounces standing in this active month of OCT.  

 

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

No of notices filed so far (13,858) x 100 oz+(2494)  OI for the front month minus the number of notices served upon today (0} x 100 oz} which equals 1,635,200 oz standing OR 50.8615 TONNES in this  active delivery month of OCT.

We LOST 35 contracts or an additional 3500 oz will NOT stand for gold at the comex.

TOTAL COMEX GOLD STANDING:  50.8615 TONNES

 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

404,814.366, oz NOW PLEDGED  march 5/2021/HSBC  12.59 TONNES

285,319.695 PLEDGED  MANFRA 8.8746 TONNES

298,568.054, oz  JPM  9.28 TONNES

1,149,631,831 oz pledged June 12/2020 Brinks/35.76 TONNES

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

41,127.478 oz International Delaware:  1.27 tonnes

LOOMIS:  18,615.429   0.57900

total pledged gold:  2,358,833.560oz                                     73.36 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 477.20 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 50.8615 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  17,701,079.41 oz or 550.57 tonnes
 
 
 
total weight of pledged: 2,358,833.560   oz                                     73.37 tonnes
 
 
 
registered gold that can be used to settle upon: 15,342,246.0 (477.20 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes15,342,246.0 (477.20 tonnes)   
 
 
total eligible gold: 16,194,624.145 oz   (503.72 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  33,895,703.555 oz or 1,054.29 tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  927.95 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

OCT 13/2021

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//OCT

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
1,463,582.237  oz
 
CNT
Delaware
JPMorgan
HSBC
Manfra
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
 
599,953.860
 OZ
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
5
 
CONTRACT(S)
25,000  OZ)
 
No of oz to be served (notices)
127 contracts
 635,000 oz)
Total monthly oz silver served (contracts)  1751 contracts

 

8,755,000 oz)

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

total dealer deposits:  nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  1 deposits into customer account (ELIGIBLE ACCOUNT)

i)Into CNT:599,953.860 oz

 

 
 

JPMorgan now has 181.924 million oz  silver inventory or 50.68% of all official comex silver. (181.924 million/358.881 million

total customer deposits today 599,953.860   oz

we had 5 withdrawals

i) Out of Delaware: 5000.017 oz

ii) Out of CNT:  299,408.587 oz

iii) Out of JPM  586,098.283 oz

iv) Out of HSBC:  12,476.340 oz

v) Out of Manfra:  560,598.871 oz

 

 

total withdrawal   1,463,582.231        oz

 

adjustments:   0
 
 
 

Total dealer(registered) silver: 98.904 million oz

total registered and eligible silver:  358.881 million oz

a net   0.800 million oz leaves  the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
For October, we have an open interest of 132 contracts for a GAIN OF 5. we had O notices filed upon yesterday so we gained 5 contracts or an additional 25,000 oz will  stand for delivery at the comex 
 
 
 

NOVEMBER GAINED 34 TO STAND AT 882  

DEC LOST 1333 CONTRACTS DOWN TO 116,544

 
NO. OF NOTICES FILED: 0  FOR NIL OZ.

To calculate the number of silver ounces that will stand for delivery in OCT. we take the total number of notices filed for the month so far at  1751 x 5,000 oz = 8,755,000 oz to which we add the difference between the open interest for the front month of OCT (132) and the number of notices served upon today 5 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the OCT./2021 contract month: 1751 (notices served so far) x 5000 oz + OI for front month of OCT(132)  – number of notices served upon today (5) x 5000 oz of silver standing for the OCT contract month .equals 9,390,000 oz. .

We gained 5 contracts or an additional 25,000 oz will stand for delivery in this non active delivery month of OCTOBER.

 

 

TODAY’S ESTIMATED SILVER VOLUME  70,072 CONTRACTS // volume strong 

 

FOR YESTERDAY 45,647 contracts  ,CONFIRMED VOLUME/ awful

 

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

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

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO -3.06% (OCT 8/2021)

SILVER FUND POSITIVE TO NAV

No of oz of physical silver held:  Oct 1/2021   151,927,020 ( a gain of 1.001 MILLION OZ IN TWO MONTHS

no of oz of physical silver held  JULY 8.2021;  150,926,000  (GAIN OF 6.411 MILLION OZ IN 2 MONTHS)

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 12 months Sprott has added: 66.02 MILLION OZ OCT 4-SEPT 20)

 

2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.65% nav   (OCT 8)/2021 )

 

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

NAV $17.91 TRADING 17.20//NEGATIVE  3.95

 

END

 

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

 

OCT 13/WITH GOLD UP $35.35 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.82 TONNES FROM LAST FRIDAY/INVENTORY RESTS AT 982.72 TONNES

OCT 7/WITH GOLD DOWN $3.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 986.54 TONNES

OCT 6/WITH GOLD UP $.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 986.54 TONNES

OCT 5/WITH GOLD DOWN $5.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 986.54 TONNES

OCT 4/WITH GOLD UP $5.90 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.49 TONNES FROM THE GLD//INVENTORY RESTS AT 986.54 TONNES

OCT 1/WITH GOLD UP $3.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 990.03 TONNES

SPET 30.//WITH GOLD UP $32.75 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 990.03 TONNES

SEPT 29/WITH GOLD DOWN $14.70 TODAY: A SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .29 TONNES FROM THE GLD//

INVENTORY RESTS AT 990.03 TONNES

SEPT 28/WITH GOLD DOWN $14.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WIHTDRAWAL OF 3.2 TONNES FROM THE GLD////INVENTORY RESTS AT 990.32 TONNES

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:

 

OCT 13 / GLD INVENTORY 982,72 tonnes

Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them!)

OCT 13/WITH SILVER UP 64 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A LOSS OF 3.796 MILLION OZ FROM THE SLV SINCE FRIDAY NIGHT///INVENTORY RESTS AT 546.145 MILLION OZ/

OCT 7/WITH SILVER UP 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 549.941 MILLION OZ/

OCT 6/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 549.941 MILLION OZ 

OCT 5/ WITH SILVER UP 3 CENTS TODAY; A HUGE CHANGE  IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 503,000 OZ INTO THE SLV//INVENTORY RESTS AT 549.941 MILLION OZ

OCT 4/WITH  SILVER UP 1 CENT TODAY: A HUGE CHANGE IN SILVER INVENTORY: A DEPOSIT OF 8.425 MILLION OZ INTO THE SLV// //INVENTORY RESTS AT 549.438 MILLION OZ/

OCT 1/WITH  SILVER UP 52 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 541.013 MILLION OZ//

SEPT 30/WITH SILVER UP 54 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 541.013 MILLION OZ/

SEPT 29/WITH SILVER DOWN 98 CENTS TODAY// A SMALL CHANGES IN SILVER INVENTORY AT THE SLV//A WITHDRAWAL OF .509,000 OZ FROM THE SLV/ INVENTORY RESTS AT 541.013 MILLION OZ

SEPT 28/WITH SILVER DOWN 20 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 3.982 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 541.522 MILLION OZ

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 MILLION OZ

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.

 
 

OCT 13/2021  SLV INVENTORY RESTS TONIGHT AT 546.145 MILLION OZ

 

 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

 

end

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

OR LAWRIE WILLIAMS

LAWRIE WILLIAMS: Gold and silver

-END-

ii) Important gold commentaries courtesy of GATA/Chris Powell

Now Poland correctly wants to accelerate accumulation of gold

(Ronan Manly)

Ronan Manly: Poland’s central bank plans to accelerate accumulation of gold

 

 

 Section: Daily Dispatches

 

By Ronan Manly
Bullion Star, Singapore
Friday, October 8, 2021

Poland’s central bank, the National Bank of Poland (NBP), which stunned gold markets back in 2019 when it purchased 100 tonnes of gold bars in London and then promptly flew the gold back to Warsaw, has just confirmed that it now plans to buy another 100 tonnes of gold during 2022.

The news was confirmed this week by Adam Glapiński, president of Poland’s central bank, in a special interview with Polish magazine Strefa Biznesu in advance of the Congress 590 economic conference in Warsaw. As well as heading the Polish central bank, Glapiński is an economics professor.

While Poland holds 230 tonnes of monetary gold reserves and sits in 24th place in the world sovereign gold holdings table, the planned addition of 100 tonnes of gold during 2022 would boost the country’s gold reserves to 330 tonnes and catapult Poland up to 18th place in the rankings, ahead of major gold holders such as the UK, Saudi Arabia, Austria, Spain, and Thailand.

Glapiński’s interview with Strefa Biznesu was conducted by journalist Zbigniew Biskupski, and the interview is even titled by the Polish central bank as “Another 100 Tons of Gold in 2022″. …

… For the remainder of the report:

https://www.bullionstar.com/blogs/ronan-manly/poland-accelerates-gold-buying-plans-to-purchase-100-tonnes-during-2022/

 

END

Pam and Russ Martens: The Dallas Fed board is now complicit in the Robert Kaplan saga

 

 

 Section: Daily Dispatches

 

By Pam and Russ Martens
Wall Street on Parade
Tuesday, October 12, 2021

Last Wednesday the editorial board of the Financial Times of London penned an editorial under a headline that read: “The Fed’s Trading Scandal Undermines Public Trust.” The editorial noted that the president of the Dallas Fed, Robert Kaplan, “held stakes over $1 million each in 27 investments, and moved in and out of S&P 500 futures. The precise dates of his transactions are unknown as his form declaring financial interests merely gives ‘multiple’ as the timeframe.”

Last Friday this headline appeared at the Wall Street Journal: “Boston, Dallas Fed Banks Pledge Cooperation With Stock-Trading Probe.” But then the article revealed this:

“The Dallas Fed has declined multiple requests to fully disclose Mr. Kaplan’s extensive trading activity. For example, Mr. Kaplan’s disclosures list ‘multiple’ for trades in stocks and other investments without specifying the dates of the transactions.” …

… For the remainder of the report:

https://wallstreetonparade.com/2021/10/the-dallas-fed-board-is-now-complicit-in-the-robert-kaplan-saga/

 

end

For sure:  Comex gold ignores real yields

Sprott/Craig Hemke

Craig Hemke at Sprott Money: Comex gold ignores real yields

 

 

 Section: Daily Dispatches

 

By Craig Hemke
Sprott Money, Toronto
Tuesday, October 12, 2021

Inflation-adjusted interest rates remain sharply negative, yet the COMEX gold price remains down on the year. On a historical basis, this is a very odd divergence, and it sets up an interesting trade as we move toward 2022.

Much has been made of the current drop in inflation-adjusted or “real” interest rates. And what are real interest rates? The rate of return a bondholder sees once inflation and loss of purchasing power is taken into account. …

… For the remainder of the analysis:

https://www.sprottmoney.com/blog/COMEX-Gold-Ignores-Real-Yields-Craig-Hemke-October-12-2021

OTHER IMPORTANT GOLD/ECONOMIC COMMENTARIES

OTHER COMMODITIES//COAL

 

CRYPTOCURRENCIES/
 
 
 
end
 

Your early WEDNEDAY 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 6.4419  

 

//OFFSHORE YUAN 6.4490  /shanghai bourse CLOSED UP 14.83 PTS OR .42% 

 

HANG SANG CLOSED DOWN 362.50 PTS OR 1.43% 

 

2. Nikkei closed DOWN 90.33 PTS OR 0.33%  

 

3. Europe stocks  ALL MIXED

 

USA dollar INDEX UP TO  94.28/Euro RISES TO 1.1559

3b Japan 10 YR bond yield: RISES TO. +.09/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 111.34/ 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:: 77.99 and Brent: 82.82

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.116%/Italian 10 Yr bond yield RISES to 0.90% /SPAIN 10 YR BOND YIELD RISE TO 0.51%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.03: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.92

3k Gold at $1760. silver at: 22.68   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 3/100 in roubles/dollar) 71.84

3m oil into the 79 dollar handle for WTI and  82 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 113.57 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 .9273 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0719 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.116%

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 1.571% early this morning. Thirty year rate at 2.077%

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

6.  TURKISH LIRA:  UP  TO 9.07..  VERY DEADLY

Futures Reverse Losses Ahead Of Key CPI Report

 
WEDNESDAY, OCT 13, 2021 – 08:13 AM

For the second day in a row, an overnight slump in equity futures sparked by concerns about iPhone sales (with Bloomberg reporting at the close on Tuesday that iPhone 13 production target may be cut by 10mm units due to chip shortages) and driven be more weakness out of China was rescued thanks to aggressive buying around the European open. At 800 a.m. ET, Dow e-minis were up 35 points, or 0.1%, S&P 500 e-minis were up 10.25 points, or 0.24%, and Nasdaq 100 e-minis were up 58.50 points, or 0.4% ahead of the CPI report due at 830am ET. 10Y yields dipped to 1.566%, the dollar was lower and Brent crude dropped below $83.

JPMorgan rose as much as 0.8% in premarket trading after the firm’s merger advisory business reported its best quarterly profit. On the other end, Apple dropped 1% lower in premarket trading, a day after Bloomberg reported that the technology giant is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units due to prolonged chip shortages. Here are some of the biggest U.S. movers today:

  • Suppliers Skyworks Solutions (SWKS US), Qorvo (ORVO) and Cirrus Logic (CRUS US) slipped Tuesday postmarket
  • Koss (KOSS US) shares jump 23% in U.S. premarket trading in an extension of Tuesday’s surge after tech giant Apple was rebuffed in two patent challenges against the headphones and speakers firm
  • Qualcomm (QCOM US) shares were up 2.7% in U.S. premarket trading after it announced a $10.0 billion stock buyback
  • International Paper (IP US) in focus after its board authorized a program to acquire up to $2b of the company’s common stock; cut quarterly dividend by 5c per share
  • Smart Global (SGH US) shares rose 2% Tuesday postmarket after it reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate
  • Wayfair (W US) shares slide 1.8% in thin premarket trading after the stock gets tactical downgrade to hold at Jefferies
  • Plug Power (PLUG US) gains 4.9% in premarket trading after Morgan Stanley upgrades the fuel cell systems company to overweight, saying in note that it’s “particularly well positioned” to be a leader in the hydrogen economy

Wall Street ended lower in choppy trading on Tuesday, as investors grew jittery in the run-up to earnings amid worries about supply chain problems and higher prices affecting businesses emerging from the pandemic. As we noted last night, the S&P 500 has gone 27 straight days without rallying to a fresh high, the longest such stretch since last September, signaling some fatigue in the dip-buying that pushed the market up from drops earlier this year.

Focus now turn to inflation data, due at 0830 a.m. ET, which will cement the imminent arrival of the Fed’s taper.  “A strong inflation will only reinforce the expectation that the Fed would start tapering its bond purchases by next month, that’s already priced in,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “Yet, a too strong figure could boost expectations of an earlier rate hike from the Fed and that is not necessarily fully priced in.”

The minutes of the Federal Reserve’s September policy meeting, due later in the day, will also be scrutinized for signals that the days of crisis-era policy were numbered.

Most European equities reverse small opening losses and were last up about 0.5%, as news that German software giant SAP increased its revenue forecast led tech stocks higher. DAX gained 0.7% with tech, retail and travel names leading. FTSE 100, FTSE MIB and IBEX remained in the red. Here are some of the biggest European movers today:

  • Entra shares gain as much as 10% after Balder increases its stake and says it intends to submit a mandatory offer.
  • Spie jumps as much as 10%, the biggest intraday gain in more than a year, after the French company pulled out of the process to buy Engie’s Equans services unit.
  • Man Group rises as much as 8.3% after the world’s largest publicly traded hedge fund announced quarterly record inflows. 3Q21 net inflows were a “clear beat” and confirm pipeline strength, Morgan Stanley said in a note.
  • Barratt Developments climbs as much as 6.3%, with analysts saying the U.K. homebuilder’s update shows current trading is improving.
  • Recticel climbs 15% to its highest level in more than 20 years as the stock resumes trading after the company announced plans to sell its foams unit to Carpenter Co.
  • Bossard Holding rises as much as 9.1% to a record high after the company reported 3Q earnings that ZKB said show strong growth.
  • Sartorius gains as much as 5.9% after Kepler Cheuvreux upgrades to hold from sell and raises its price target, saying it expects “impressive earnings growth” to continue for the lab equipment company.
  • SAP jumps as much as 5% after the German software giant increased its revenue forecast owing to accelerating cloud sales.
  • Just Eat Takeaway slides as much as 5.8% in Amsterdam to the lowest since March 2020 after a 3Q trading update. Analysts flagged disappointing orders as pandemic restrictions eased, and an underwhelming performance in the online food delivery firm’s U.S. market.

Earlier in the session, Asian stocks posted a modest advance as investors awaited key inflation data out of the U.S. and Hong Kong closed its equity market because of typhoon Kompasu. The MSCI Asia Pacific Index rose 0.2% after fluctuating between gains and losses, with chip and electronics manufacturers sliding amid concerns over memory chip supply-chain issues and Apple’s iPhone 13 production targets. Hong Kong’s $6.3 trillion market was shut as strong winds and rain hit the financial hub.  “Broader supply tightness continues to be a real issue across a number of end markets,” Morgan Stanley analysts including Katy L. Huberty wrote in a note. The most significant iPhone production bottleneck stems from a “shortage of camera modules for the iPhone 13 Pro/Pro Max due to low utilization rates at a Sharp factory in southern Vietnam,” they added. Wednesday’s direction-less trading illustrated the uncertainty in Asian markets as traders reassess earnings forecasts to factor in inflation and supply chain concerns. U.S. consumer price index figures and FOMC minutes due overnight may move shares. Southeast Asian indexes rose thanks to their cyclical exposure. Singapore’s stock gauge was the top performer in the region, rising to its highest in about two months, before the the nation’s central bank decides on monetary policy on Thursday.

Japanese stocks fell for a second day as electronics makers declined amid worries about memory chip supply-chain issues and concerns over Apple’s iPhone 13 production targets.  The Topix index fell 0.4% to 1,973.83 at the 3 p.m. close in Tokyo, while the Nikkei 225 declined 0.3% to 28,140.28. Toyota Motor Corp. contributed the most to the Topix’s loss, decreasing 1.3%. Out of 2,181 shares in the index, 608 rose and 1,489 fell, while 84 were unchanged. Japanese Apple suppliers such as TDK, Murata and Taiyo Yuden slid. The U.S. company is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units as prolonged chip shortages hit its flagship product, according to people with knowledge of the matter

Australian stocks closed lower as banks and miners weighed on the index. The S&P/ASX 200 index fell 0.1% to close at 7,272.50, dragged down by banks and miners as iron ore extended its decline. All other subgauges edged higher. a2 Milk surged after its peer Bubs Australia reported growing China sales and pointed to a better outlook for daigou channels. Bank of Queensland tumbled after its earnings release. In New Zealand, the S&P/NZX 50 index rose 0.2% to 13,025.18.

In rates, Treasuries extended Tuesday’s bull-flattening gains, led by gilts and, to a lesser extent, bunds. Treasuries were richer by ~2bps across the long-end of the curve, flattening 5s30s by about that much; U.K. 30-year yield is down nearly 7bp, with same curve flatter by ~6bp. Long-end gilts outperform in a broad-based bull flattening move that pushed 30y gilt yields down ~7bps back near 1.38%. Peripheral spreads widen slightly to Germany. Cash USTs bull flatten but trade cheaper by ~2bps across the back end to both bunds and gilt ahead of today’s CPI release.

In FX, the Bloomberg Dollar Spot Index fell by as much as 0.2% and the greenback weakened against all of its Group-of-10 peers; the Treasury curve flattened, mainly via falling yields in the long- end, The euro advanced to trade at around $1.1550 and the Bund yield curve flattened, with German bonds outperforming Treasuries. The euro’s volatility skew versus the dollar shows investors remain bearish the common currency as policy divergence between the Federal Reserve and the European Central Bank remains for now. The pound advanced with traders shrugging off the U.K.’s weaker-than-expected economic growth performance in August. Australia’s sovereign yield curve flattened for a second day while the currency underperformed its New Zealand peer amid a drop in iron ore prices. The yen steadied after four days of declines.

In commodities, crude futures hold a narrow range with WTI near $80, Brent dipping slightly below $83. Spot gold pops back toward Tuesday’s best levels near $1,770/oz. Base metals are in the green with most of the complex up at least 1%.

To the day ahead now, and the main data highlight will be the aforementioned US CPI reading for September, while today will also see the most recent FOMC meeting minutes released. Other data releases include UK GDP for August and Euro Area industrial production for August. Central bank speakers include BoE Deputy Governor Cunliffe, the ECB’s Visco and the Fed’s Brainard. Finally, earnings releases include JPMorgan Chase, BlackRock and Delta Air Lines.

Market Snapshot

  • S&P 500 futures up 0.1% to 4,346.25
  • STOXX Europe 600 up 0.4% to 459.04
  • MXAP up 0.2% to 194.60
  • MXAPJ up 0.4% to 638.16
  • Nikkei down 0.3% to 28,140.28
  • Topix down 0.4% to 1,973.83
  • Hang Seng Index down 1.4% to 24,962.59
  • Shanghai Composite up 0.4% to 3,561.76
  • Sensex up 0.8% to 60,782.71
  • Australia S&P/ASX 200 down 0.1% to 7,272.54
  • Kospi up 1.0% to 2,944.41
  • Brent Futures down 0.4% to $83.12/bbl
  • Gold spot up 0.5% to $1,768.13
  • U.S. Dollar Index down 0.23% to 94.30
  • German 10Y yield fell 4.2 bps to -0.127%
  • Euro little changed at $1.1553
  • Brent Futures down 0.4% to $83.12/bbl

Top Overnight News from Bloomberg

  • Vladimir Putin wants to press the EU to rewrite some of the rules of its gas market after years of ignoring Moscow’s concerns, to tilt them away from spot-pricing toward long-term contracts favored by Russia’s state run Gazprom, according to two people with knowledge of the matter. Russia is also seeking rapid certification of the controversial Nord Stream 2 pipeline to Germany to boost gas deliveries, they said.
  • Federal Reserve Vice Chairman for Supervision Randal Quarles will be removed from his role as the main watchdog of Wall Street lenders after his title officially expires this week.
  • The EU will offer a new package of concessions to the U.K. that would ease trade barriers in Northern Ireland, as the two sides prepare for a new round of contentious Brexit negotiations.
  • U.K. Chancellor of the Exchequer Rishi Sunak is on course to raise taxes and cut spending to control the budget deficit, while BoE Governor Andrew Bailey has warned interest rates are likely to rise in the coming months to curb a rapid surge in prices. Together, those moves would mark a simultaneous major tightening of both policy levers just months after the biggest recession in a century — an unprecedented move since the BoE gained independence in 1997.
  • Peter Kazimir, a member of the ECB’s Governing Council, was charged with bribery in Slovakia. Kazimir, who heads the country’s central bank, rejected the allegations

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks were mixed following the choppy performance stateside with global risk appetite cautious amid the rate hike bets in US and heading into key events including US CPI and FOMC Minutes, while there were also mild headwinds for US equity futures after the closing bell on reports that Apple is set to reduce output of iPhones by 10mln from what was initially planned amid the chip shortage. ASX 200 (unch.) was little changed as gains in gold miners, energy and tech were offset by losses in financials and the broader mining sector, with softer Westpac Consumer Confidence also limiting upside in the index. Nikkei 225 (-0.3%) was pressured at the open as participants digested mixed Machinery Orders data which showed the largest M/M contraction since February 2018 and prompted the government to cut its assessment on machinery orders, although the benchmark index gradually retraced most its losses after finding support around the 28k level and amid the recent favourable currency moves. Shanghai Comp. (+0.4%) also declined as participants digested mixed Chinese trade data in which exports topped estimates but imports disappointed and with Hong Kong markets kept shut due to a typhoon warning. Finally, 10yr JGBs were steady with price action contained after the curve flattening stateside and tentative mood heading to upcoming risk events, although prices were kept afloat amid the BoJ’s purchases in the market for around JPY 1tln of JGBs predominantly focused on 1-3yr and 5-10yr maturities.

Top Asian News

  • Gold Edges Higher on Weaker Dollar Before U.S. Inflation Report
  • RBA Rate Hike Expectations Too Aggressive, TD Ameritrade Says
  • LG Electronics Has Series of Stock-Target Cuts After Profit Miss

The mood across European stocks has improved from the subdued cash open (Euro Stoxx 50 +0.5%; Stoxx 600 +0.3%) despite a distinct lack of newsflow and heading into the official start of US earnings season, US CPI and FOMC minutes. US equity futures have also nursed earlier losses and trade in modest positive territory across the board, with the NQ (+0.5%) narrowly outperforming owing to the intraday fall in yields, alongside the sectorial outperformance seen in European tech amid tech giant SAP (+4.7%) upgrading its full FY outlook, reflecting the strong business performance which is expected to continue to accelerate cloud revenue growth. As such, the DAX 40 (+0.7%) outperformed since the cash open, whilst the FTSE 100 (-0.2%) is weighed on by underperformance in its heavyweight Banking and Basic Resources sectors amid a decline in yields and hefty losses in iron ore prices. Elsewhere, the CAC 40 (+0.3%) is buoyed by LMVH (+2.0%) after the luxury name topped revenue forecasts and subsequently lifted the Retail sector in tandem. Overall, sectors are mixed with no clear bias. In terms of individual movers, Volkswagen (+3.5%) was bolstered amid Handelsblatt reports in which the Co was said to be cutting some 30k jobs as costs are too high vs competitors, whilst separate sources suggested the automaker is said to be mulling spinning off its Battery Cell and charging unit. Chipmakers meanwhile see mixed fortunes in the aftermath of sources which suggested Apple (-0.7% pre-market) is said to be slashing output amid the chip crunch.

Top European News

  • The Hut Shares Swing as Strategy Day Feeds Investor Concern
  • U.K. Economy Grows Less Than Expected as Services Disappoint
  • Man Group Gets $5.3 Billion to Lift Assets to Another Record
  • Jeff Ubben and Singapore’s GIC Back $830 Million Fertiglobe IPO

In FX, the Dollar looks somewhat deflated or jaded after yesterday’s exertions when it carved out several fresh 2021 highs against rival currencies and a new record peak vs the increasingly beleaguered Turkish Lira. In index terms, a bout of profit taking, consolidation and position paring seems to have prompted a pull-back from 94.563 into a marginally lower 94.533-246 range awaiting potentially pivotal US inflation data, more Fed rhetoric and FOMC minutes from the last policy meeting that may provide more clues or clarity about prospects for near term tapering.

  • NZD/GBP – Both taking advantage of the Greenback’s aforementioned loss of momentum, but also deriving impetus from favourable crosswinds closer to home as the Kiwi briefly revisited 0.6950+ terrain and Aud/Nzd retreats quite sharply from 1.0600+, while Cable has rebounded through 1.3600 again as Eur/Gbp retests support south of 0.8480 yet again, or 1.1800 as a reciprocal. From a fundamental perspective, Nzd/Usd may also be gleaning leverage from the more forward-looking Activity Outlook component of ANZ’s preliminary business survey for October rather than a decline in sentiment, and Sterling could be content with reported concessions from the EU on NI customs in an effort to resolve the Protocol impasse.
  • EUR/CAD/AUD/CHF – Also reclaiming some lost ground against the Buck, with the Euro rebounding from around 1.1525 to circa 1.1560, though not technically stable until closer to 1.1600 having faded ahead of the round number on several occasions in the last week. Meanwhile, the Loonie is straddling 1.2450 in keeping with WTI crude on the Usd 80/brl handle, the Aussie is pivoting 0.7350, but capped in wake of a dip in Westpac consumer confidence, and the Franc is rotating either side of 0.9300.
  • JPY – The Yen seems rather reluctant to get too carried away by the Dollar’s demise or join the broad retracement given so many false dawns of late before further depreciation and a continuation of its losing streak. Indeed, the latest recovery has stalled around 113.35 and Usd/Jpy appears firmly underpinned following significantly weaker than expected Japanese m/m machinery orders overnight.
  • SCANDI/EM – Not much upside in the Sek via firmer Swedish money market inflation expectations and perhaps due to the fact that actual CPI data preceded the latest survey and topped consensus, but the Cnh and Cny are firmer on the back of China’s much wider than forecast trade surplus that was bloated by exports exceeding estimates by some distance in contrast to imports. Elsewhere, further hawkish guidance for the Czk as CNB’s Benda contends that high inflation warrants relatively rapid tightening, but the Try has not derived a lot of support from reports that Turkey is in talks to secure extra gas supplies to meet demand this winter, according to a Minister, and perhaps due to more sabre-rattling from the Foreign Ministry over Syria with accusations aimed at the US and Russia.

In commodities, WTI and Brent front-month futures see another choppy session within recent and elevated levels – with the former around USD 80.50/bbl (80.79-79.87/bbl) and the latter around 83.35/bbl (83.50-82.65/bbl range). The complex saw some downside in conjunction with jawboning from the Iraqi Energy Minster, who state oil price is unlikely to increase further, whilst at the same time, the Gazprom CEO suggested that the oil market is overheated. Nonetheless, prices saw a rebound from those lows heading into the US inflation figure, whilst the OPEC MOMR is scheduled for 12:00BST/07:00EDT. Although the release will not likely sway prices amidst the myriad of risk events on the docket, it will offer a peek into OPEC’s current thinking on the market. As a reminder, the weekly Private Inventory report will be released tonight, with the DoE’s slated for tomorrow on account of Monday’s Columbus Day holiday. Gas prices, meanwhile, are relatively stable. Russia’s Kremlin noted gas supplies have increased to their maximum possible levels, whilst Gazprom is sticking to its contractual obligations, and there can be no gas supplies beyond those obligations. Over to metals, spot gold and silver move in tandem with the receding Buck, with spot gold inching closer towards its 50 DMA at 1,776/oz (vs low 1,759.50/oz). In terms of base metals, LME copper has regained a footing above USD 9,500/t as stocks grind higher. Conversely, iron ore and rebar futures overnight fell some 6%, with overnight headlines suggesting that China has required steel mills to cut winter output. Further from the supply side, Nyrstar is to limit European smelter output by up to 50% due to energy costs. Nyrstar has a market-leading position in zinc and lead. LME zinc hit the highest levels since March 2018 following the headlines

US Event Calendar

  • 8:30am: Sept. CPI YoY, est. 5.3%, prior 5.3%; MoM, est. 0.3%, prior 0.3%
  • 8:30am: Sept. CPI Ex Food and Energy YoY, est. 4.0%, prior 4.0%; MoM, est. 0.2%, prior 0.1%
  • 8:30am: Sept. Real Avg Weekly Earnings YoY, prior -0.9%, revised -1.4%
  • 2pm: Sept. FOMC Meeting Minutes

DB’s Jim Reid concludes the overnight wrap

So tonight it’s my first ever “live” parents evening and then James Bond via Wagamama. Given my daughter (6) is the eldest in her year and the twins (4) the youngest (plus additional youth for being premature), I’m expecting my daughter to be at least above average but for my boys to only just about be vaguely aware of what’s going on around them. Poor things. For those reading yesterday, the Cameo video of Nadia Comanenci went down a storm, especially when she mentioned our kids’ names, but the fact that there was no birthday cake wasn’t as popular. So I played a very complicated, defence splitting 80 yard through ball but missed an open goal.

Anyway ahead of Bond tonight, with all this inflation about I’m half expecting him to be known as 008 going forward. The next installment of the US prices saga will be seen today with US CPI at 13:30 London time. This is an important one, since it’s the last CPI number the Fed will have ahead of their next policy decision just 3 weeks from now, where investors are awaiting a potential announcement on tapering asset purchases. Interestingly the August reading last month was the first time so far this year that the month-on-month measure was actually beneath the consensus expectation on Bloomberg, with the +0.3% growth being the slowest since January.

Famous last words but this report might not be the most interesting since it may be a bit backward looking given WTI oil is up c.7.5% in October alone. In addition, used cars were up +5.4% in September after falling in late summer. So given the 2-3 month lag for this to filter through into the CPI we won’t be getting the full picture today. I loved the fact from his speech last night that the Fed’s Bostic has introduced a “transitory” swear jar in his office. More on the Fedspeak later.

In terms of what to expect this time around though, our US economists are forecasting month-on-month growth of +0.41% in the headline CPI, and +0.27% for core, which would take the year-on-year rates to +5.4% for headline and +4.1% for core.

Ahead of this, inflation expectations softened late in the day as Fed officials were on the hawkish side. The US 10yr breakeven dropped -1.9bps to 2.49% after trading at 2.527% earlier in the session. This is still the 3rd highest closing level since May, and remains only 7bps off its post-2013 closing high. Earlier, inflation expectations continued to climb in Europe, where the 5y5y forward inflation swap hit a post-2015 high of 1.84%. Also on inflation, the New York Fed released their latest Survey of Consumer Expectations later in the European session, which showed that 1-year ahead inflation expectations were now at +5.3%, which is the highest level since the survey began in 2013, whilst 3-year ahead expectations were now at +4.2%, which was also a high for the series.

The late rally in US breakevens, coupled with lower real yields (-1.6bps) meant that the 10yr Treasury yield ended the session down -3.5bps at 1.577% – their biggest one day drop in just over 3 weeks. There was a decent flattening of the yield curve, with the 2yr yield up +2.0bps to 0.34%, its highest level since the pandemic began as the market priced in more near-term Fed rate hikes. In the Euro Area it was a very different story however, with 10yr yields rising to their highest level in months, including among bunds (+3.5bps), OATs (+2.9bps) and BTPs (+1.0bps). That rise in the 10yr bund yield left it at -0.09%, taking it above its recent peak earlier this year to its highest closing level since May 2019. Interestingly gilts (-4.0bps) massively out-performed after having aggressively sold off for the last week or so.

Against this backdrop, equity markets struggled for direction as they awaited the CPI reading and the start of the US Q3 earnings season today. By the close of trade, the S&P 500 (-0.24%) and the STOXX 600 (-0.07%) had both posted modest losses as they awaited the next catalyst. Defensive sectors were the outperformers on both sides of the Atlantic. Real estate (+1.34%) and utilities (+0.67%) were among the best performing US stocks, though some notable “reopening” industries outperformed as well including airlines (+0.83%), hotels & leisure (+0.51%).

News came out after the US close regarding the global chip shortage, with Bloomberg reporting that Apple, who are one of the largest buyers of chips, would revise down their iPhone 13 production targets for 2021 by 10 million units. Recent rumblings from chip producers suggest that the problems are expected to persist, which will make central bank decisions even more complicated over the coming weeks as they grapple with increasing supply-side constraints that push up inflation whilst threatening to undermine the recovery.

Speaking of central bankers, Vice Chair Clarida echoed his previous remarks and other communications from the so-called “core” of the FOMC that the current bout of inflation would prove largely transitory and that underlying trend inflation was hovering close to 2%, while admitting that risks were tilted towards higher inflation. Atlanta Fed President Bostic took a much harder line though, noting that price pressures were expanding beyond the pandemic-impacted sectors, and measures of inflation expectations were creeping higher. Specifically, he said, “it is becoming increasingly clear that the feature of this episode that has animated price pressures — mainly the intense and widespread supply-chain disruptions — will not be brief.” His ‘transitory swear word jar’ for his office was considerably more full by the end of his speech. As highlighted above, while President Bostic spoke US 10yr breakevens dropped -2bps and then continued declining through the New York afternoon.

In what is likely to be Clarida’s last consequential decision on monetary policy before his term expires, he noted it may soon be time to start a tapering program that ends in the middle of next year, in line with our US economics team’s call for a November taper announcement. In that vein, our US economists have updated their forecasts for rate hikes yesterday, and now see liftoff taking place in December 2022, followed by 3 rate increases in each of 2023 and 2024. That comes in light of supply disruptions lifting inflation, a likely rise in inflation expectations (which are sensitive to oil prices), and measures of labour market slack continuing to outperform. For those interested, you can read a more in-depth discussion of this here.

Turning to commodities, yesterday saw a stabilisation in prices after the rapid gains on Monday, with WTI (+0.15%) and Brent Crude (-0.27%) oil prices seeing only modest movements either way, whilst iron ore prices in Singapore were down -3.45%. That said it wasn’t entirely bad news for the asset class, with Chinese coal futures (+4.45%) hitting fresh records, just as aluminium prices on the London Metal Exchange (+0.13%) eked out another gain to hit a new post-2008 high.

Overnight in Asia, equity markets are seeing a mixed performance with the KOSPI (+1.24%) posting decent gains, whereas the CSI (-0.06%), Nikkei (-0.22%) and Shanghai Composite (-0.69%) have all lost ground. The KOSPI’s strength came about on the back of a decent jobs report, with South Korea adding +671k relative to a year earlier, the most since March 2014. The Hong Kong Exchange is closed however due to the impact of typhoon Kompasu. Separately, coal futures in China are up another +8.00% this morning, so no sign of those price pressures abating just yet following recent floods. Meanwhile, US equity futures are pointing to little change later on, with those on the S&P 500 down -0.12%.

Here in Europe, we had some fresh Brexit headlines after the UK’s Brexit minister, David Frost, said that the Northern Ireland Protocol “is not working” and was not protecting the Good Friday Agreement. He said that he was sharing a new amended Protocol with the EU, which comes ahead of the release of the EU’s own proposals on the issue today. But Frost also said that “if we are going to get a solution we must, collectively, deliver significant change”, and that Article 16 which allows either side to take unilateral safeguard measures could be used “if necessary”.

Elsewhere yesterday, the IMF marginally downgraded their global growth forecast for this year, now seeing +5.9% growth in 2021 (vs. +6.0% in July), whilst their 2022 forecast was maintained at +4.9%. This masked some serious differences between countries however, with the US downgraded to +6.0% in 2021 (vs. +7.0% in July), whereas Italy’s was upgraded to +5.8% (vs. +4.9% in July). On inflation they said that risks were skewed to the upside, and upgraded their forecasts for the advanced economies to +2.8% in 2021, and to +2.3% in 2022.

Looking at yesterday’s data, US job openings declined in August for the first time this year, falling to 10.439m (vs. 10.954m expected). But the quits rate hit a record of 2.9%, well above its pre-Covid levels of 2.3-2.4%. Here in the UK, data showed the number of payroll employees rose by +207k in September, while the unemployment rate for the three months to August fell to 4.5%, in line with expectations. And in a further sign of supply-side issues, the number of job vacancies in the three months to September hit a record high of 1.102m. Separately in Germany, the ZEW survey results came in beneath expectations, with the current situation declining to 21.6 (vs. 28.0 expected), whilst expectations fell to 22.3 (vs. 23.5 expected), its lowest level since March 2020.

To the day ahead now, and the main data highlight will be the aforementioned US CPI reading for September, while today will also see the most recent FOMC meeting minutes released. Other data releases include UK GDP for August and Euro Area industrial production for August. Central bank speakers include BoE Deputy Governor Cunliffe, the ECB’s Visco and the Fed’s Brainard. Finally, earnings releases include JPMorgan Chase, BlackRock and Delta Air Lines.

3A/ASIAN AFFAIRS

i)WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED UP 14.83 PTS OR .42%     //Hang Sang CLOSED DOWN 362.50 PTS OR 1.43% /The Nikkei closed DOWN 90.33 PTS OR 0.33%    //Australia’s all ordinaires CLOSED DOWN 0.05%

/Chinese yuan (ONSHORE) closed UP 6.4419   /Oil DOWN TO 79.99 dollars per barrel for WTI and DOWN TO 82.82 for Brent. Stocks in Europe OPENED ALL MIXED   /ONSHORE YUAN CLOSED  UP AT 6.4419 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4490/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

 

3 a./NORTH KOREA/ SOUTH KOREA

/NORTH KOREA//SOUTH KOREA

 
end

b) REPORT ON JAPAN

JAPAN

 

 

3 C CHINA

4/EUROPEAN AFFAIRS

POLAND
Lots of fun here:  The Polish court overrules the EU’s Court of Justice stating that their goals are different to that of the EU
(Shedlock)

Polexit!? Polish Court Overrules EU’s European Court Of Justice

 
WEDNESDAY, OCT 13, 2021 – 02:00 AM

Authored by Mike Shedlock via MishTalk.com,

Poland and the EU are increasingly at odds. Let’s take a look at events to see where this is headed…

After the top Polish court overruled the ECJ, Fears Rose the Court Ruling Points to EU Exit.

Tens of thousands of protesters marched through Warsaw and other Polish cities late Sunday to oppose a court ruling that European Union legal judgments have become incompatible with the Polish constitution, a decision protesters fear could prompt Poland to follow the U.K. out of the bloc.

Waving EU and Polish flags, demonstrators held banners reading “I’m Staying in Europe” and “No Polexit!”

Unlike in the U.K., an overwhelming majority of Poles wish to stay members of the EU—as do Hungarians, another Central European country whose government is in regular conflict with the bloc over where the EU’s powers end and national sovereignty begins.

On Thursday, Poland’s Constitutional Tribunal ruled that the process of European integration encoded in EU treaty law has reached what it called a “new stage” that is incompatible with the Polish constitution, and that the latter should take precedence when the two conflict. When joining the EU in 2004, Poland agreed to implement EU treaties, also signing up a few years later to the bloc’s updated Lisbon Treaty. Poland’s ruling party says the EU has overstepped its authority.

In Brussels, a spokesman for the European Commission, the EU’s executive arm, on Monday gave no timeline for responding to Poland. EU officials fear a domino effect and gradual disintegration of the EU’s legal and political authority if one country can overrule EU rules and EU court decisions.

“If you allow all these fundamental principles of European integration to be hollowed out and ignored, then this is eventually the end of the EU,” said Piotr Buras, head of the European Council on Foreign Relations’ Warsaw office.

Fertile Ground for Secession

In Ultra Vires, a column on the situation in Poland, Eurointelligence founder Wolfgang Münchau places some of the blame for what’s happening in Poland on the German Constitutional Court located in Karlsruhe.

In its ruling last week, Poland’s constitutional court went beyond anything the German constitutional court ever did. It declared Art. 1 of the Treaty on European Union, the clause that establishes the EU, not compatible with certain chapters of the Polish constitution. It found the same for Art. 19 TEU, which establishes the CJEU. If sustained, this would constitute a legal Polexit. If a member states believes that the EU treaties violate their national constitution, they either have to change the constitution, get the other members to agree to a change in the treaties, or leave the EU. The EU could, if it wanted to, even make an argument under international law that this ruling automatically voids Poland’s accession treaty, and thus its EU membership

The role of the German constitutional court in all of this is indirect but nonetheless important. What it did was engage in a legal discourse that made the Polish outrage possible. Readers may recall that the CJEU was a big factor in the Brexit discussions. If only the remainers had known that they could have renationalised some of those powers? Despite the europhobia that led to Brexit, there was much less of a sense of secessionism in the legal profession, compared to with Germany or Poland.

Some of the arguments used during the Polish hearings were straight copies of arguments made by the German constitutional court. Karlsruhe, for example, popularised legal concepts such as ultra vires and the democracy principle. They sound more innocent than they are. Karlsruhe argues that sovereignty can be conferred but not shared. This implies that the CJEU cannot be the arbiter of its own remit. It also means that EU law does not override national law in areas outside the agreed perimeter, and that it is the national courts that decide the precise location of that perimeterFiscal policy and defence are not part of that remit. So, if you want a fiscal union or a European army, you cannot do this inside the existing treaty

The Polish ruling will almost surely end up in Poland backing down. I see Polexit as a possible but improbable outcome. But remember that Brexit, too, started out that way.

The Karlsruhe version of legal euroscepticism has been far more clever, and more effective. It managed to create legal facts out of thin air that informed the EU negotiating position of successive German governments. The Polish ruling, by contrast, is drafted as a deliberate provocation that might play into the hands of Law and Justice ahead of the 2023 elections. Karlsruhe is not responsible for what is happening in Poland. But it is responsible for starting a discourse that others take up and push to the limits.

No Polexit!?

Münchau opines there will not be a Polexit. 

OK, but what about changes to the existing treaties for Eurobonds, financial debt commingling, or a European army? 

It takes unanimous consent to change anything in the EU. Heck, it took nearly a decade just to work out something seemingly simple like a trade deal with Canada.

Half-Baked Union

Hungary and Poland are at odds with the EU over court rulings. Other countries are tangled up with EU disputes regarding immigration and borders.

The European Monetary Union (EMU) or Eurozone is in a similar situation.

It takes unanimous agreement to change anything or even do many things unless there were specifically established by treaty.

Germany demanded these unanimous consent rules out of fear of debt commingling. Now these rules hamper efforts by the EU to bring Poland, Hungary, the Czech Republic and other countries into line over anything not clearly spelled out.

The EU has a half-baked union and it will stay that way unless every country agrees to changes

Good luck with that.

 

end

UK/EUROPEAN / GAS PRICES//NATURAL GAS SHORTAGES

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

/IRAN//USA
Former Mossad chief stuns his audience by admitting the Iran is not even close to getting a nuclear bomb.
(zerohedge)

Former Mossad Chief Stuns Audience By Admitting Iran “Not Even Close” To Getting Nuclear Bomb

 
TUESDAY, OCT 12, 2021 – 08:35 PM

Foreign Minister Yair Lapid is in Washington D.C. to meet with top Biden administration officials for talks centered on Iran as well as the Gaza Strip and other security-related matters. As expected, Lapid warned US National Security Adviser Jake Sullivan that Iran is on brink of becoming a “nuclear threshold state”.

Lapid’s office issued this statement after the Sullivan meeting: “The foreign minister shared with the national security adviser Israel’s concerns about Iran’s race toward nuclear capabilities, as well as that Iran is becoming a nuclear threshold state,” according to The Times of Israel. “Lapid also discussed with the national security adviser the need for an alternative plan to the nuclear agreement.”

As nuclear talks between Tehran and world powers have remain stalled in Vienna, a key question at center of debate over whether the US should seek a restored JCPOA deal with Iran remains just how close is Iran to acquiring a nuke?

 

Yossi Cohen, via i24 News

Apparently even within the Israeli national security state, there’s a deep divide over the question, despite hawks sounding the alarm for decades that Iran is ever “on the brink” of obtaining a nuke. Or also, it could be that internally Israeli intelligence knows the Iranians are not actually close, while the politicians publicly take a very different position for propaganda purposes, and to keep up the international pressure on Tehran.

The influential former Mossad director Yossi Cohen suggested this precisely in Tuesday comments that raised eyebrows. The Israeli intelligence veteran commander said in reality that Iran is “not even close” to getting a nuclear weapon – though he chalked this up largely to Israeli’s sabotage and espionage efforts targeting the Iranians. 

“I think that Iran, to this day, is not even close to acquiring a nuclear weapon… This is due to longstanding efforts by some forces in the world,” he said in response to a question by Jerusalem Post intelligence reporter Yonah Jeremy Bob, which included references to Israeli covert actions in the Islamic Republic.

Cohen added that due to Israeli intelligence efforts, Iran has “less foreign support for what [it is] doing than in the past.”

He called for a “completely refurbished” nuclear deal, or else warned that the Islamic Republic would indeed become more likely to develop a bomb. Here’s more according to The Jerusalem Post:

If Iran develops a nuclear weapon, Israel must be able to stop it on its own, Cohen said.

Asked if that would be possible without bunker-buster bombs, he responded: “We have to develop capabilities to allow us to be absolutely independent, doing what Israel has done twice before” – bombing nuclear reactors in Syria and Iraq.

He further threatened that “They should not sleep quietly in Iran.” For much of the past few years Israel has been bombing what it frequently describes as ‘Iranian assets’ inside Syria. 

The nuclear reactor reference the former Mossad chief made is to the 2007 Israeli bombing of a suspected Syrian nuclear reactor that was under construction allegedly with the help of North Korea. The attack on the Al-Kubar facility near Deir al-Zor in eastern Syria was belatedly admitted to by Israeli officials in 2018.

end

6.Global Issues

CORONAVIRUS UPDATE

 

A double vaccinated Delta pilot dies in flight Monday night.  The plane has to undergo an emergency landing

 

special thanks to Robert for providing this to us: 

New Stew Peters: Heads Up! Vaxxed Delta Pilot Dies In Flight, Emergency Landing Required! | Prophecy | Before It’s News

 
 
 
This is completely nuts. How does anyone think we will return to normal when the people who make things run either get sick or quit, or retire.
In Toronto, this morning on the radio the announcer said that the Transit authority is going to retirees for personnel as they fear they will be short of people to keep the transit moving. Supposedly because people are quitting because they refuse vaccinations. Whether that is true, who knows.
Last week, the news reported dire shortages of truck drivers in the ten’s of thousands  in Canada, England and elsewhere. Supply chains are headed for the toilet as real scarcity approaches. And every time you order something now, the time it takes to arrive is noticeably longer. North America moves by truck and lose that capacity and true real problems will result.
Travel by air is becoming far more dangerous. And hospital care is becoming less available as people quit or get ill, or retire or move. I have seen all three.
Safety in travel is to the point where shipping your car so you travel with peace of mind to travel points is no longer a luxury, but a necessary action. And yes, wherever that point is; getting there becomes more expensive.

 

https://beforeitsnews.com/prophecy/2021/10/new-stew-peters-heads-up-vaxxed-delta-pilot-dies-in-flight-emergency-landing-required-2524584.html

end

An epidemic of small plane crashes

From my son:
 
 
 
After Dad mentioned yesterday that a Delta pilot had a stroke in mid air( and died), I did a search on small plane crashes. Holy cow, there have been at least dozens of them in the past month. Planes crashing into buildings, into trucks and houses, all over the US. This coincides with mass vaccination.

 

Commercial planes have 2-3 pilots on board, so if one is incapacitated the plane can still be landed safely. But small planes just have one pilot. If that pilot suffers a stroke because of vax driven deep vein thrombosis, then the plane is going to go down. High altitude is where the micro-clots that the vax creates can become acutely deadly.

This is why airline staffers like the Southwest pilots are pushing back against vax mandates. Their lives are on the line.

 
end

The following is a big story:

Stew Peters has now brought our French whistleblower who has documentation on the following:

  1. The deep state (consisting of 38 heads and 300 heads of state)
  2. The deep state decides who wins elections 
  3.  Joe Biden is an illegitimate President 
  4.  The pandemic is really a “Pandemic” planned in 2015 something of which Dr Martin has outlined to us previously 

New Stew Peters: Shadow Government: Databanks Expose Worldwide Evil and Corruption Says French Billionaire

 
 
 
 
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New Stew Peters: Shadow Government: Databanks Expose Worldwide Evil and Corruption Says French Billionaire

‘Shadow government’ may refer to: An opposition grouping in a parliamentary system that mimics the structure of the actual government, in particular its cabinet (see Shadow Cabinet) A term for plans for an emergency government that takes over in the event of a disaster, see continuity of government.

a must view:

https://beforeitsnews.com/prophecy/2021/10/new-stew-peters-shadow-government-databanks-expose-worldwide-evil-and-corruption-says-french-billionaire-2524582.htm

end

Texas governor now bars all COVID 19 vaccine mandates  and rips Biden for bullying

(Whitcomb/Reuters)

Texas governor bars all COVID-19 vaccine mandates in state, rips Biden for ‘bullying’

 

Oct 11 (Reuters) – Republican Texas Governor Greg Abbott, responding to what he called “bullying” by the Biden Administration, on Monday barred all COVID-19 vaccine mandates in the state by any entity, including private employers.

Abbott’s move sets him up for a clash with President Joe Biden, a Democrat who last month called on businesses nationwide to order their workers to be vaccinated or lose their jobs. At least several thousand people have since been fired for refusing to comply.

“In another instance of federal overreach, the Biden Administration is now bullying many private entities into imposing COVID-19 vaccine mandates, causing workforce disruptions that threaten Texas’ continued recovery from the COVID-19 disaster,” Abbott said in an executive order.

The White House had no immediate comment.

 

Abbott’s order states that “no entity in Texas” could compel proof of vaccination by any individual, including employees or customers. He called on state lawmakers to take up the issue in an upcoming special session.

Tech giants Facebook Inc and Alphabet Inc’s (GOOGL.O) Google have both told employees that they would need proof of vaccination to return to their offices. Both companies employ large numbers in Texas.

 

Texas Governor Greg Abbott speaks at the annual National Rifle Association (NRA) convention in Dallas, Texas, U.S., May 4, 2018. REUTERS/Lucas Jackson/File Photo

Read More
 

Fort Worth-based American Airlines (AAL.O), the largest U.S. carrier, last week told its 100,000 U.S.-based employees they must submit proof of full vaccination no later than Nov. 24 – or be fired. read more

United Airlines (UAL.O) imposed a vaccine mandate on its 60,000 employees, around 9,000 of whom are based in Texas.

 

The company is defending a lawsuit filed in Fort Worth, and a federal judge on Wednesday will hear a request by United employees for an injunction to prevent the carrier from firing those who requested exemptions.

Biden issued his mandate in September as his administration struggled to control the pandemic, which has killed more than 700,000 Americans.

Political leaders across the United States have ratcheted up pressure on the unvaccinated in recent weeks.

Laws requiring proof of vaccinations are deeply controversial in the United States, with many Americans criticizing them as unconstitutional and authoritarian.

 

Proponents of vaccine mandates see them as necessary to pull the nation out of the nearly two-year pandemic and return to normalcy.

Reporting by Dan Whitcomb; Additional reporting by Tom Hals and Mohammad Zargham; Editing by Sandra Maler and Peter Cooney

Our Standards: The Thomson Reuters Trust Principles.

end
The data is now in:  there are now more deaths in 2021 from COVID than 2020 after the introduction of the vaccine
(Horowitz/Blaze)

Horowitz: The data is in, and we are now worse off than before the experimental shots – TheBlaze

 
 
 

Horowitz: The data is in, and we are now worse off than before the experimental shots

Daniel HorowitzOctober 12, 2021

In October 2018, the Johns Hopkins Bloomberg School of Public Health published a report that, if one didn’t know better, might make readers think the authors were involved in the gain-of-function research that likely created this virus. The report, titled “Technologies to Address Global Catastrophic Biological Risks,” offers novel social control and mRNA vaccination ideas to deal with emerging pandemics “whether naturally emerging or reemerging, deliberately created and released, or laboratory engineered and escaped—that could lead to sudden, extraordinary, widespread disaster beyond the collective capability of national and international organizations and the private sector to control.”

One of the many bone-chilling sections in this publication (pp. 45-47) provides a blueprint for “self-spreading vaccines,” described as vaccines “genetically engineered to move through populations in the same way as communicable diseases, but rather than causing disease, they confer protection.”

After noting that such an idea would violate the rules of informed consent (the irony!), and possibly spread allergic reaction, they add this shocking prediction about the challenge of such technology:

Finally, there is a not insignificant risk of the vaccine virus reverting to wild-type virulence, as has sometimes occurred with the oral polio vaccine—which is not intended to be fully virulent or transmissible, but which has reverted to become both neurovirulent and transmissible in rare instances. This is both a medical risk and a public perception risk; the possibility of vaccine-induced disease would be a major concern to the public.

Whether this vaccine actually sheds the spike protein onto other people is still not yet proven (although Pfizer seems to indicate it can spread through skin-to-skin contact in “inhalation“), but the principle of mass vaccination with a faulty vaccine making a virus both more transmissible and more virulent is something that is hard to deny at this point. The reality is that more people have died from COVID-19 in 2021, with most adults vaccinated (and nearly all seniors), than in 2020 when nobody was vaccinated. Something is not adding up, and perhaps those who have been dabbling in gain-of-function research in recent years have the answer.

According to the latest Public Health England report, the only country with granular weekly data, the COVID-19 case rates are higher per capita among the vaccinated in every age group over 30. Among those in their 40s, the case rate is nearly double among the vaccinated, for a vaccine efficacy – at least against infection – of a stunning -86%.

Anyone who tells you this is normal and expected is simply lying to you. These numbers are getting worse every week. The bottom line is that cases are spreading quicker, including out of season, post-vaccine. It would be one thing if the virus became more transmissible and less deadly, which is what we typically experience with a natural pandemic. However, the opposite is true. This virus has taken a painful toll on both the vaccinated and unvaccinated over the past few months, a phenomenon that is very well explained with a leaky vaccine that fails to sterilize the virus but causes viral immune escape and a degree of vaccine mediated enhancement.

Moreover, the notion that somehow the vaccines stop death is simply not true, especially not after they began to leak in efficacy after the first few months. We simply find no correlation anywhere in the world with higher vaccination rates and better outcomes. In fact, Israel is practically a textbook example of a leaky vaccine creating a degree of viral enhancement.

I extracted weekly z-scores from EuroMOMO and mapped them against #Covid19 vaccination level. There’s no correlatio… https://t.co/01TnSJ55jF

— Ben M. (@Ben M.) 1633802085.0

After vaccinating over 85% of its population, Singapore 🇸🇬 finally flattened the curve, but along the wrong axis: https://t.co/jHjczPGooE

— Dr. Eli David (@Dr. Eli David) 1633724141.0

To blame this on the “Delta variant” makes no sense. When England got the first round of Delta in May, about two months before the American South got crushed and before Israeli research showed the vaccine leaking, Delta was actually much less virulent (described as a cold). At the time, I personally dismissed it as more of a cold because I was expecting this virus to continue behaving the way a natural virus would. Then the American South and Israel got hit hard. Now England is also experiencing a higher death rate. My friend who goes by “Gato” online provides this useful graphic on his Substack page, which shows the case fatality rate gradually rising, not falling, with higher vaccination rates in England.

Again, this makes no sense, according to the media narrative. There’s no way a tiny percentage of unvaccinated adults can be responsible for making the virus spread more prolifically and become more virulent, especially as we see there are more cases per capita among the vaccinated over 30. What is clear is that this virus took a turn for the worse right around the six-month mark after the vaccines began to leak transmission. Then, it first slammed the unvaccinated people – just as we saw with the leaky chicken vaccine with Marek’s disease – because the vaccinated still had a degree of preventive protection.

September 18, 2020 – no vaccine September 18, 2021 – vaccine https://t.co/XgNJadJ44P

— Emma “Rapid Rewards” Woodhouse 😁 (@Emma “Rapid Rewards” Woodhouse 😁1633959608.0

Just in the last 12 weeks, all-cause excess deaths have been up by 38% compared to the same time frame in 2020. Wha… https://t.co/WTC92tUHx3

— Ben M. (@Ben M.) 1633970327.0

However, now, unlike with the chicken vaccine, the COVID shots appear to have leaked so much that the protection against critical illness is rapidly waning too. In fact, a new Israeli study of hospital workers at Sheba Medical Centerpublished in the New England Journal of Medicine showed that around the six-month mark, the Pfizer shot wanes the most for people over 65 and those with health issues – the very people for whom we needed this protection.

Consider the following:

  • study prepared by Humetrix for the Department of Defense called “Project Salus” monitored 20 million Medicare beneficiaries from January to Aug. 21 and found that the vaccinated share of the COVID hospitalizations rose steadily with both vaccines after three to four months and sharply after six months (as the Israelis found). By late July, 71% of all cases and 61% of all hospitalizations were among the vaccinated individuals. While over 80% of seniors are vaccinated, the percentage of hospitalized COVID patients over 65 today who are vaccinated is likely a lot closer to their share of the population, given the accelerated waning every week. Also, like any other study, these data include those who have one shot or are within two weeks of the second shot to be “unvaccinated,” even though that is the most vulnerable period to catch the virus.
  • In an email to the Vermont Daily Chronicle, the Vermont Department of Health conceded that 76% of deaths in the state during September were among the vaccinated. They tried to excuse the number by noting that this is a very old population that was nearly universally vaccinated, but this is still a huge failure, for it was these people who needed the protection more than anyone else.
  • A new large study in the New England Journal of Medicine by Weil Cornell Medicine-Qatar found that the Pfizer vaccine waned very quickly after four months. By seven months, when adjusted for those in Qatar who already had prior infection, the Pfizer shot was -4% effective against transmission and just 44.1% effective against severe illness. Also, effectiveness against asymptomatic infection was -33% after seven months, which suggests that it is the vaccinated who have become the superspreaders. By now, many people have been vaccinated nine to ten months ago.

If we are going to lose our freedoms and suspend democracy over a shot made by a greedy private company, can we at least do so for one that works?

 
 
 
END
 
Data correctly shows the effectiveness of the vaccine dropped as Delta surged in New York during the summer.
 

Vaccine Effectiveness In New York Dropped As Delta Variant Surged During Summer, Study Shows

 
TUESDAY, OCT 12, 2021 – 05:15 PM

Authored by Ivan Pentchoukov via The Epoch Times (emphasis ours),

 

People wait to attend the Broadway musical “Hamilton” after showing their vaccination cards at the Richard Rodgers Theatre in New York on Sept. 14, 2021. (TIMOTHY A. CLARY/AFP via Getty Images)

The effectiveness of the three COVID-19 vaccines dropped significantly over the course of 10 weeks this summer when the Delta variant exploded to become the dominant strain of the CCP virus, according to a preprint study (pdf).

Scientists from the New York State Department of Health and the University at Albany School of Public Health studied the vaccination, testing, and hospitalization records of more than 8.8 million New Yorkers for the period between May 1 and July 10 this summer.

The analysis found that effectiveness dropped the sharpest for those under the age of 50.

The greatest decline in vaccine effectiveness occurred for the Pfizer-BioNTech shot, with a decline of 24.6 percent for people aged 49 and under, 19.1 percent for those 50 to 64 years old, and 14.1 percent for people 65 and over.

Effectiveness for the Moderna and Janssen vaccines likewise dropped, although less so than the Pfizer shot. Moderna effectiveness dropped 18 percent, 11.6 percent, and 9.0 percent for those under 50, those aged 50 to 64. and people 65 and over respectively. The effectiveness of the Janssen shot dropped 19.2 percent, 10.8 percent, and 10.9 percent for the same respective age groups.

The drop in effectiveness for all three vaccines occurred as the Delta variant of the CCP virus grew in prevalence from 1.8 percent on May 1 to over 85 percent on July 10. The CCP (Chinese Communist Party) virus, commonly known as the novel coronavirus, is the pathogen that causes COVID-19.

Our results provide evidence of immunity loss associated with time since completion of vaccination,” the study says.  “Irrespective of the cause or propensity for continued declines in [vaccine effectiveness], our findings have important implications for national vaccine policy. Pfizer-BioNTech booster doses have been demonstrated safe and to increase short-term protection against the Delta variant. Our findings align with the CDC recommendation for Pfizer-BioNTech boosters in persons [over] 65 years [old].”

The reduction in effectiveness recorded in New York, while significant, is far less than that recorded in Israel. The New York study’s authors say this “may be due to earlier vaccination, increased sensitivity definitions, or other methodological differences.”

All three vaccines remained effective at preventing COVID-19 related hospitalizations, with a small reduction effectiveness show for people 65 and over who took the Pfizer vaccine.

“This latest study conducted by our renowned scientists here at DOH is the largest to examine in-depth changes in vaccine effectiveness over time broken down by all three COVID-19 vaccines types currently authorized for use in the United States,” said senior author and New York Health Commissioner Howard Zucker in a statement.

END

Should have been done long along: Oregon senators call for investigation into alleged COVID 19 statistical manipulation

(Hung/EpochTimes)

Oregon Senators Call For Investigation Into Alleged COVID-19 Statistical Manipulation

 
TUESDAY, OCT 12, 2021 – 07:20 PM

Authored by Tammy Hung via The Epoch Times (emphasis ours),

 

An Oregon National Guardsman works with hospital staff at an intake station at Three Rivers Asante Medical Center in Grants Pass, Oregon, on Sept. 9, 2021. (Nathan Howard/Getty Images)

Oregon state Sens. Kim Thatcher and Dennis Linthicum, both Republicans, have petitioned Acting U.S. Attorney Scott E. Asphaug to launch a grand jury investigation into the measurement of COVID-19 statistics by the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA).

Thatcher and Linthicum submitted the petition in a letter (pdf) on Aug. 16 after gathering signatures from 1,718 Oregonians and 53,032 Americans.

In the petition, the senators expressed concerns over the measurement and reporting of COVID-19 vaccine adverse reactions including fatalities and injuries.

The lawmakers stated that a whistleblower, under sworn testimony, said the data reported under the CDC’s Vaccine Adverse Events Reporting System may have been underreported by a factor of five.

Regarding the diagnosis of COVID-19 through widely-used PCR tests, the senators said that the CDC and the FDA’s setting of one particular test parameter—the cycle threshold—generated “false positives resulting in inflated numbers of COVID cases, hospitalizations, and deaths.”

Harvard epidemiologist Dr. Michael Mina told The New York Times in August 2020 that tests with too high of a threshold may detect not just live viruses but also genetic fragments. Mina suggested setting the cut-off at 30 cycles or less.

Thatcher expressed concern over the cycle threshold of 28 when testing vaccinated individuals. According to the petition, a low cut-off is likely to “eliminate false positive results and thereby reduce the number of vaccine ‘breakthrough’ cases.”

Thatcher and Linthicum said that they consulted large groups of doctors, epidemiologists, and virologists on the subject of COVID-19 statistical reporting.

“Additionally, we are profoundly concerned that the scientific literature continues to provide empirical evidence that safe and effective treatments and management strategies for COVID infections exist but are not being made available to Americans most in need,” continued the letter.

Stand for Health Freedom (SHF), a non-profit organization that helped with the petition, said in a statement that the petition was submitted one month before public release to “protect those involved.”

SHF also cited a March 2020 study (pdf) alleging that the CDC over-emphasized COVID-19 as the cause of death in compiling its statistics while “circumvent[ing] multiple federal laws” in the process.

end
 
Finally the FDA makes the correct call: no more need for boosters for Moderna and J and j.
(zerohedge)

FDA Says No Need For Boosters As Moderna, J&J Plead Case

 
WEDNESDAY, OCT 13, 2021 – 07:00 AM

After a detailed review, the FDA’s scientists have decided to hold off on approving Moderna’s vaccine for a booster jab, the latest bad news for the company’s bottom line. Documents published Tuesday show that Moderna’s two-dose vaccine course generates enough immunity from the virus and the delta variant that a third dose is “unnecessary”.

The decision creates the possibility that the agency could approve Pfizer for a booster jab but not Moderna.

Modern submitted its data to the FDA’s Vaccines and Related Biological Products Advisory Committee asking for approval of a booster jab for most adults. The biotech upstart, which rose to prominence thanks to its mRNA technology that undergirds the most popular COVID jabs, argued that immunity provided by its jabs wanes over time, with some studies showing immunity starts to wane at around the six month mark. Some studies have suggested that natural immunity is more effective than immunity from the jabs.

In the report, the FDA said “… data indicate that currently US-licensed or authorized COVID-19 vaccines still afford protection against severe COVID-19 disease and death in the United States. There are many potentially relevant studies, but FDA has not independently reviewed or verified the underlying data or their conclusions.”

After detailing all the studies undertaken to try and assess the safety of the booster jab, namely whether it would increase the risk of dangerous heart inflammation in men, a rare side effect that has been documented in the mRNA jabs, the FDA said it believes a booster is safe.

“In adults 18 through 64 years of age, with the exception of axillary swelling or tenderness of the vaccination arm (indicating lymphadenopathy), solicited safety data do not show evidence of increased frequency or severity of local or systemic reactions after the booster dose…”

While the documents released by the FDA on Tuesday show that the agency is likely holding off on recommending a booster jab – for now, at least – the advisory committee will still meet to discuss the proposal on Thursday.

In September, the FDA granted emergency clearance for a third booster dose of the Pfizer-BioNTech two-shot vaccine for older people, as well as patients at particularly high risk, or who are at risk because of their job.

But the news isn’t all bad for Moderna: Earlier this month, an EU drug regulator signed off on booster jabs of Moderna’s vaccine, as well as Pfizer’s two-dose shot, for vulnerable patients, although the EU based the decision on patients who have weakened immunity due to having had an organ transplant.

J&J also just asked the FDA for approval of a booster jab for adults 18 and older, and both Moderna and J&J insist that they’ve gathered enough data showing that a booster jab should be justified for the general population.

That would be the best outcome for them, at least.

 

end
Not good!

Australia Building Quarantine Camps For “Ongoing Operations”

 
WEDNESDAY, OCT 13, 2021 – 03:30 AM

Authored by Paul Joseph Watson via Summit News,

Despite some states tentatively beginning to lift lockdown restrictions, Australian authorities are building quarantine camps that won’t be completed until next year in order to prepare for “ongoing operations” and to house those “who have not had access to vaccination.”

According to ABC Australia, one such 1,000-bed quarantine facility at Wellcamp Airport outside Toowoomba will be fully completed by the end of March 2022.

“At this stage, the cabins will be used by domestic travellers returning from COVID hotspots,” states the report.

However, it also makes clear that the camp will be used for “ongoing operations” and will be a source of employment for the local area.

The camps is split into different zones and accommodates singles, doubles, and family rooms while being patrolled by police and security guards 24/7.

Citing new strains of COVID and people “who have not had access to vaccination,” Queensland Deputy Premier Steven Miles told the media outlet, “We anticipate there to be a continuing need for quarantine facilities.”

The government is leasing the land on which the camp is being built from the Wagner Corporation for 12 months with an option for a further 12 months after that.

Another 1,000-bed quarantine facility is also being built on a 30-hectare Army barracks site in the industrial area of Pinkenba, near Brisbane Airport.

“Why anyone who had left Australia would come back again is unclear,” writes Dave Blount. “It is possibly the most repressive country in the world regarding Covid tyranny.”

As we previously highlighted, state authorities in America are also constructing new “quarantine facilities” for Americans who are “unable to quarantine at home.”

As we reported last year, Authorities in Quebec City, Canada announced they will isolate “uncooperative” citizens in a coronavirus facility, the location of which remains a secret.

 

New Zealand also announced plans to place COVID infectees and their family members in “quarantine facilities.”

Back in January, German authorities also announced they would hold COVID dissidents who repeatedly fail to properly follow the rules in what was described as a ‘detention camp’ located in Dresden.

end

Dutch Group Presents Evidence of Vaccine Dangers at the International Criminal Court in The Hague

 

In normal times, news that massive amounts of evidence of Covid-19 vaccine dangers was presented at the International Criminal Court in The Hague would be major news covered worldwide. These aren’t normal times, so the event was completely ignored by pretty much every major media outlet. As far as they’re concerned, the vaccines are “safe and effective” because they’ve all been instructed by the powers-that-be to declare that the vaccines are “safe and effective.”

Our readers know they’re not, but the message is having challenges reaching the masses. The powers-that-be have complete control over mainstream media, Big Tech, academia, and most governments. It should come as a shock to no one that pressure is being applied to keep any news that runs counter to their narrative from coming to light. We will continue to highlight as much of this news as we can, including this article from Free West Media:

New evidence showing harmfulness of Corona vaccinations presented to International Criminal Court

An independent Dutch Parliamentary Commission of Inquiry set up in 2020, has new evidence it presented to the International Criminal Court in The Hague about the harmfulness of the Corona vaccinations.

The BPOC 2020 is a committee set up by citizens and is completely separate from government, business and politics. The committee was set up by Pieter Kuit and his daughter Jade Kuit.

 

“It comes from a sense of justice. People have needlessly lost their freedoms. But everything the government says is widely reported in the media. You can hardly find any other information.” Kuit says he receives about 600 to 700 e-mails and 80 telephone calls a day from people who have the same concerns about the government’s lack of transparency. According to Kuit, the government “cannot provide any scientific substantiation”.

The committee has examined the proportionality of the policy and measures with regard to Covid-19 and also investigates whether the government is complying with the law. To this end, the committee hears experts such as doctors, scientists, lawyers and professors, who focus on the following question:

“Why have restrictive measures been imposed in our country since March 15, 2020 due to Covid19, are these measures effective and are the measures imposed in proportion to the disease caused by the SARS-CoV-2 virus?”

The interviews with experts are public, filmed and streamed. A written report is made of the information sessions. Interim reports and ultimately a final report with findings and conclusions are drawn up which are presented to the House of Representatives and all relevant social authorities such as youth care, trade unions and the National Ombudsman.

 

Right of Parliamentary Inquiry

The House of Representatives can independently conduct research into policy and projects and have that research carried out by MPs. Several instruments can be used for this. The most efficient means is research based on the Parliamentary Inquiry Act. Since 2016, the House of Representatives has also been able to hold a parliamentary inquiry.

Thus a large number of views from experts, doctors, virologists, mathematicians, economists, but also entrepreneurs have been videotaped without any editing and live-streamed on Facebook as befits a transparent parliamentary democracy.

Covid vaccines are not safe

The experts consulted by the BPOC2020 believe that the vaccines are not safe for use. This is also apparent from the reports received by the Committee’s Vaccination Reporting Center.

Until October 8, 2204 deaths and 2835 cases of serious injury after the Corona vaccine have been registered by the vaccine adverse reaction hotline. The government’s database on adverse events Lareb,  however refuses to process these reports.

 
GLOBAL ISSUES
 
 
LA PALMA VOLCANO ERUPTION
 
 
 
 
end

More La Palma today

 
 
 
 
end
 

La Palma thermal imaging shows much more destruction

 
 
 
 
When you see the ethereal imaging you start to realize just how unstable the area around the lava is.

 

https://youtu.be/rfdLL8LKoHE

Cheers
Robert

 
 
 
 
 
Michael Every on the major topics of the day
 
Michael Every…..
 

Rabobank: Today What Is Passing Is The Glorious Lie That Inflation Was Transitory

 
WEDNESDAY, OCT 13, 2021 – 10:10 AM

By Michael Every of Rabobank

Sic Transit Gloria Mundi in Latin, ‘Thus passes worldly glory’ in English, used to be said at papal coronation ceremonies. Today what is passing is the glorious promise that world inflation was transitory. The Fed’s Bostic is the first major central banker to openly admit that “Transitory is a dirty word.” Speaking with a glass jar labelled “transitory” at his side and depositing $1 each time he used the “swear word”, he underlined “It is becoming increasingly clear that the feature of this episode that has animated price pressures –mainly the intense and widespread supply-chain disruptions– will not be brief. By this definition, then, the forces are not transitory.” We get US inflation today, where the market is looking for a 0.3% m/m print, 5.3% y/y, and 0.2% core, 4.0% y/y, meaning negative real average earnings growth yet again.

The NFIB SME survey, which dipped again yesterday, likewise argued: “Small business owners are doing their best to meet the needs of customers, but are unable to hire workers or receive the needed supplies and inventories. The outlook for economic policy is not encouraging to owners, as lawmakers shift to talks about tax increases and additional regulations.” The report showed a record 51% of all small businesses reporting job openings they can’t fill, and a net 42% raising wages to help offset the shortage, which is a 48-year record high reading.

Does this imply a more hawkish stance is therefore needed from central banks? That remains to be seen: but we certainly saw a bearish US curve flattening yesterday, with 2-year yields up and 10-year yields down. That also says “Sic Transit Gloria Mundi” –or ‘policy error!’– regarding potential rate responses to a supply-side shock to inflation/the labor force that if *not* matched by at least some wage inflation means either businesses shutting down for lack of workers, or demand shutting down for those businesses.  

The Fed and Treasury may be busy elsewhere too, as the NFIB fret. It’s no longer ‘Quarles in Charge’ of our days and our nights and our wrongs and our rights within banking, with the deregulatory Fed Vice Chair for Supervision stepping down. At the same time, Treasury Secretary Yellen insists the IRS needs to step up, inspecting all transactions over $600: wouldn’t a central-bank digital currency make it easier, he asked, recognizing a Trojan horse when he sees one? Yellen also admitted in an interview that the $600 mark is not where tax evasion is happening. That’s in the Pandora Papers which, just as I expected, are fading from public view as rapidly as all the other piles of steaming elite malfeasance elephant-dung in the room.

Which leads us to the IMF’s Chief Executive Georgieva keeping her job despite being accused of rigging “Doing Business” indicators in favor of China while running the World Bank. This outcome is seen as yet another US foreign policy humiliation, with the Europeans siding with Beijing: indeed, for the EU, key principals were at stake – ensuring a European runs the IMF despite their declining world power; and doing the opposite of whatever the Americans want. This is as awkward an outcome as possible for the Fund given Georgieva still has to work with Yellen, who clearly wanted her gone given she would not even take her calls. It’s even worse given the World Bank has a second investigation into this matter ahead, which will re-open the wound (unless that is rigged too). The FT bewails this outcome besmirches the IMF’s credibility, which does looks transitory. It also underlines the fact that our global acronyms (WHO, WTO, IMF, etc.) are all now part of a US-China (and EU!) tug-of-war.

The IMF is meanwhile downgrading its global growth forecast, and warning of inflation and supply-chain disruptions. In typical IMF fashion, this would have been a great observation six months ago: today, it’s the last guy to join an angry crowd right at the back and ‘bravely’ say “Yeah!” Worse, the Fund is only downgrading its world GDP for 2021 from 6.0% to 5.9% despite energy and food prices leaping in the last few months, and Evergrande tumbling, hitting 30% of China’s GDP (as Chinese car sales were -17.3% y/y in September, and Chinese coal prices hit another record high, promising even higher electricity prices). For 2022, the IMF thinks things are the same now as they were in July, so is sticking with 4.9% GDP growth. The Fund also says:

  • “This is a time for careful policy calibration….Policymakers are now confronted with a challenging trade-off: They must continue to provide near-term support to the global economy, even as they must simultaneously try to avoid the build-up of medium-term financial-stability risks.” So, what to do, oh tax-exempt wise ones?

  • “Policymakers will need action plans that guard against unintended consequences.” Since when has any authority ever been able to do that, and how would they be able to start now?

  • “Monetary and fiscal policy support should be more targeted and tailored to country-specific circumstances, given the varying pace of the recovery across countries.” So you are all on your own, people. Smoke ‘em if you got ‘em!

  • “Central banks will need to provide clear guidance about their future approach to monetary policy, aiming to avoid an unwarranted or abrupt tightening of financial conditions. Monetary authorities should remain vigilant, and if price pressures turn out to be more persistent than anticipated, act decisively to avoid an unmooring of inflation expectations. Fiscal support can appropriately shift toward more targeted measures and be tailored to country-specific characteristics.” So, raise rates *and* loosen fiscal policy to compensate at a time of massive public debt build-ups?

  • “Policymakers should take early action and tighten selected macroprudential tools to target pockets of elevated vulnerabilities. This is critical for addressing the potential unintended consequences of their unprecedented measures, given the possible need for prolonged policy support to ensure a sustainable recovery.” So, deflate the housing and stock bubbles you deliberately blew, and your economies rely on – see Chinese property and car sales for how that is working out; and

  • “Policymakers in emerging and frontier markets should, where possible, begin to rebuild fiscal buffers and implement structural reforms.” So, tighten fiscal policy if you are poor, while loosening it if you are rich. Literally, smoke ‘em if you got ‘em. And Build Back Better, of course. Don’t forget to perform that mantra too.

Of course, this miasma of internally-contradictory econo-technobabble is the best we are going to get given the neoclassical IMF will not, cannot point out that structural supply-side problems require structural supply-side solutions – and these involve more resilience, spare capacity and/or, localization; which means massive geopolitical disruption; and, on the other side, higher inflation and rates, and less globalization – and so less need for an IMF. Sic Transit Gloria IMFundi.

 

7. OIL ISSUES

 

8 EMERGING MARKET& AUSTRALIA ISSUES

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

INDIA

From Robert:

Re: India facing massive, widespread power outages as worldwide shortage of coal takes plants offline – NaturalNews.com

 
 
We spoke about this last week. When you are down to several days of coal to run a plant you are in trouble. When the Chinese are buying all availed ships it is only a matter of time before your supply chain is disrupted if you do not play the same game.
China and India will run a contest to see whose economy will hurt more. This will have a impact on global supply chains and impact cash flows of resident companies and those importers reliant on supply. Even something mundane as Headstones for graves is challenged as much of such supply comes from both India and China and has been rising in price. 

 

4th quarter results across the board will be far worse than what starts to be reported this Friday 

 

Cheers

 

Robert

 

On Oct 13, 2021, at 9:03 AM, 

India facing massive, widespread power outages as worldwide shortage of coal takes plants offline

Image: India facing massive, widespread power outages as worldwide shortage of coal takes plants offline

(Natural News) What the Greenies in America and throughout the West don’t seem to understand when they rip the use of fossil fuels, especially coal, is that there is a vast part of the world that is still developing to our standards and as such, they require a lot of energy in order to convert their economies to scale with those of the developed world.

That takes a lot of power generation, and a lot of power generation can cost a lot of money — far more than the citizens of said developing country can afford.

So the alternative for these developing nations is to fund their growth with electric power generation that is as efficient as it is cheap, even if said power generation isn’t up to our environmental standards.

That generally means coal-fired power plants.

And do you know which countries have a lot of them? China and India, both of which are now facing power shortages this winter due to a global dearth of coal.

But India is looking to be especially hard-hit.

“If coal supply doesn’t improve, there will be a blackout in Delhi in two days,” said the national capital’s Power Minister Satyendra Jain this weekend. “The coal-fired power plants that supply electricity to Delhi have to keep a minimum coal stock of one month, but now it has come down to one day.”

More than half the country’s 135 coal-fired plants, which supply roughly three-quarters of India’s electricity, are watching their coal stocks be depleted to levels that can only guarantee power for three days before New Delhi is likely to suffer rolling blackouts, according to NDTV.

“Our request to the centre is that railway wagons should be arranged and coal should be transported to the plants soonest. All the plants are already running in only 55 percent capacity,” Chief Minister Arvind Kejriwal’s Aam Aadmi Party (AAP) government said.

Delhi has a 1,300 megawatt gas-fired power plant in Bawana on the city’s outskirts, but it wouldn’t be enough to power the city. “All three companies in Delhi are distributors and not power producers. We depend on the centre’s plants. If the supply does not come, then after two days there will be a blackout in the whole of Delhi,” Jain said.

NDTV notes further:

Energy supplies are under strain globally as prices surge and demand and supply chains are strained by the recovery of consumption following lockdowns to contain the pandemic.

Mr Kejriwal today tweeted he has written to Prime Minister Narendra Modi for his intervention in making adequate arrangements of coal and gas to power plants supplying electricity to the city.

“Delhi could face a power crisis. I am personally keeping a close watch over the situation. We are trying our best to avoid it. In the meanwhile, I wrote a letter to Hon’ble PM seeking his personal intervention,” he tweeted.

Jain went on to complain that the crisis is manufactured because screeching liberals in the U.S. and throughout the West are pushing unintelligent political leaders to wean their countries off of affordable, plentiful fossil fuels without having the resources and infrastructure in place (or the technology) to produce an equal amount of power using renewables.

The issue of not having enough coal in India is “a man-made crisis, just as the crisis of medical oxygen supplies during the COVID second wave,” he said.

“But if nothing else, India’s situation illustrates just how far away humanity is from being able to survive without coal, since global coal production accounts for 40% of energy produced, especially in major emerging economies like China and India,” Zero Hedge reported.

It may not be the best source of power, but without coal, there will be plenty of people who will freeze to death this winter.

Sources include:

 END

Euro/USA 1.1559 UP .0029 /EUROPE BOURSES /ALL MIXED

USA/ YEN 113.57  UP  0.039 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3608  UP   0.0032 

 

USA/CAN 1.2442  DOWN .0035  (  CDN DOLLAR UP 35 BASIS PTS )

 

Early WEDNESDAY morning in Europe, the Euro IS UP BY 29 basis points, trading now ABOVE the important 1.08 level RISING to 1.1559 Last night Shanghai COMPOSITE CLOSED UP 14.83 PTS OR .42% 

 

//Hang Sang CLOSED DOWN 362.50 PTS OR 1.43% 

 

/AUSTRALIA CLOSED DOWN 0.05% // EUROPEAN BOURSES OPENED ALL MIXED

 

Trading from Europe and ASIA

EUROPEAN BOURSES CLOSED ALL MIXED

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 362.50 pts or 1.43% 

 

/SHANGHAI CLOSED UP 14.83 PTS OR .42%

 

Australia BOURSE CLOSED UP 0.05%

Nikkei (Japan) CLOSED DOWN 90.33 PTS OR 0.33% 

 

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1776.45

silver:$22.86-

Early WEDNESDAY morning USA 10 year bond yr: 1.571% !!! DOWN 1 IN POINTS from TUESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.074 DOWN 3  IN BASIS POINTS from TUESSDAY night.

USA dollar index early WEDNESDAY morning: 94.28 DOWN 23  CENT(S) from TUESDAY’s close.

This ends early morning numbers WEDNESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.38%  UP 2  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.09% UP 5/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.48%//  UP 2  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.90  UP 1    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 42 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO –.124% IN BASIS POINTS ON THE DAY//

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

END

IMPORTANT CURRENCY CLOSES FOR  WEDNESDAY

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

Euro/USA 1.1519  UP    0.0038 or 38 basis points

USA/Japan: 113.46  DOWN .147 OR YEN UP 15  basis points/

Great Britain/USA 1.3539 UP .0063// UP 63   BASIS POINTS)

Canadian dollar UP 29 basis points to 1.2449

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP)..64281  

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)..6.4284

TURKISH LIRA:  8.90  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.090%

Your closing 10 yr US bond yield DOWN 2 IN basis points from TUESDAY at 1.554 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.055 DOWN 5 in basis points on the day

Your closing USA dollar index, 94.21 DOWN 36  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 15.43 PTS OR 0.22% 

 

German Dax :  CLOSED UP 106.71 PTS OR 0.70% 

 

Paris CAC CLOSED UP 52.06  PTS OR  0.80% 

 

Spain IBEX CLOSED  DOWN 47.30.50  PTS OR 0.53%

Italian MIB: CLOSED DOWN 16.19 PTS OR 0.06% 

 

WTI Oil price; 80.45 12:00  PM  EST

Brent Oil: 83.22 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    72.48  THE CROSS HIGHER BY 0.20 RUBLES/DOLLAR (RUBLE LOWER BY 20 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.124 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 : 80.55//

BRENT :  83,29

USA 10 YR BOND YIELD: … 1.546.. DOWN 3 basis points…

USA 30 YR BOND YIELD: 2.044 DOWN 6  basis points..

EURO/USA 1.1592 UP 0.0062   ( 62 BASIS POINTS)

USA/JAPANESE YEN:113.30 DOWN .239 ( YEN UP 24 BASIS POINTS/..

USA DOLLAR INDEX: 94.03  DOWN 49  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3658 UP .0082  

the Turkish lira close: 9.09  DOWN 11 BASIS PTS//EXTREMELY DEADLY

the Russian rouble 72.01  DOWN .14  Roubles against the uSA dollar. (DOWN 14 BASIS POINTS)

Canadian dollar:  1.2441 UP 37 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.124%

The Dow closed DOWN 0.53 POINTS OR 0.00%

NASDAQ closed UP 105.71 POINTS OR 0.73%

VOLATILITY INDEX:  18.58 CLOSED DOWN 1.27

LIBOR 3 MONTH DURATION: 0.127

%//libor dropping like a stone

USA trading day in Graph Form

Bitcoin & Bullion Bounce As Bonds Signal Fed Faux-Pas Imminent

BY TYLER DURDEN
WEDNESDAY, OCT 13, 2021 – 04:00 PM

Policy makers have “generally navigated the economic side of the COVID crisis decently well,” though they seem to have fallen “behind the curve in the last six months, or so,” Rieder said in a Wednesday note.

“It would be greatly disappointing to see the central bank not only not `stick the landing’ but in fact stumble in a way that injures the recovery.”

Well, judging by today’s CPI print, FOMC Minutes, and bond, bullion, and bitcoin market action, they are well on their way to more than a stumble.

A fifth straight month of high consumer price inflation suggests this is anything but transitory and traders are starting to bet that The Fed will have to act sooner rather than later.

The market is now pricing in a 90% chance of a Sept 2022 rate-hike (and a July 2022 end to the taper), followed by another hike becoming more priced-in for Dec 2022…

Source: Bloomberg

On the week (with Monday being a holiday), 30Y Yields are down around 12bps (helped by a well-bid auction today) while 2Y yields are up around 5bps…

Source: Bloomberg

As the yield curve begins to price in a massive policy error by The Fed (more aggressive rate-hikes not ending well)…

Source: Bloomberg

The inflation fears showed up in crypto with bitcoin surging back above $57k…

Source: Bloomberg

And gold spiking up to $1800…

Testing and breaking several key technical levels…

Source: Bloomberg

As fears of a policy error and flip-flop back to more easing sent the dollar down hard for the day – its worst day since August

Source: Bloomberg

Oil prices were flatish for a change…

Stocks were mixed on the day with Nasdaq the best performer and The Dow the biggest laggard. Things were going so well into the open and then everything puked which reflexively brought in the dip-buyers…

The S&P 500 algos managed to push it back to the 100DMA (again)…

Utes led the S&P sectors today while Financials lagged (after JPM’s results)…

Source: Bloomberg

Meanwhile, TSLA is in melt-up mode again…

But, The SMART Money ain’t buying it…

Source: Bloomberg

Finally, U.S. households lack the kind of confidence that usually goes along with higher stock prices, according to Morgan Stanley Wealth Management. The firm drew the conclusion in a report Monday after comparing 12-month changes in the Conference Board’s consumer confidence index and the S&P 500 Index.

“If consumer sentiment doesn’t quickly improve, it could be a signal of market weakness” as people choose to spend less and save more, the firm wrote.

i) MORNING TRADING

Inflation Anxiety? Bonds & Bullion Soar After CPI

 
WEDNESDAY, OCT 13, 2021 – 11:20 AM

This morning’s CPI suggested that The Fed’s “transitory” inflation is anything but and it appears fear is spreading across the markets of that realization.

The rates market is pricing in hikes earlier and earlier (and Fed policy error)…

Source: Bloomberg

And the ‘inflation hedge’ markets are soaring with gold nearing $1800…

Source: Bloomberg

Breaking several key technical levels…

Source: Bloomberg

And Bitcoin also soaring…

Source: Bloomberg

And at the same time, the dollar is fading…

Source: Bloomberg

Remember, nothing lasts forever.

end

ii)  USA///DEBT CEILING DEAL

 

USA DATA

The CPI has now edged up to 5.4% year /year.

Dear Bureau Of Labor Statistics, Explain This ‘Inflation’ Anomaly…

 
WEDNESDAY, OCT 13, 2021 – 08:38 AM

Having slowed for two straight months, whisper numbers predicted a slightly hotter than expected September CPI (edging up to 5.4% YoY, slightly above the consensus of 5.3%) on the back of a re-intensification of supply-chain bottlenecks due to a combination of natural disasters and COVID disruptions in the US and Asia kept pressure on manufactured goods in September.

Headline CPI did indeed come hotter than expected  (+0.4% MoM vs +0.3% exp) with the YoY spike edging back up to +5.4%…

Source: Bloomberg

That is equal to its highest since July 2008.

Fuel Oil and Gas Utility prices dominated the MoM gains with Used Car prices actually dropping modestly (which is odd given that Manheim used car prices are at record highs)…

Dear Bureau of Labor Statistics, explain this!!

Let us guess – hedonics? Or we would need a PhD to really understand?

Core CPI’s recent slowing picked up in September with a 0.2% MoM jump (vs +0.1% exp) leaving YoY flat around +4.0%.

Source: Bloomberg

Housing inflation is really ramping up with the shelter index increased over the month, rising 0.4 percent. The index for rent rose 0.5 percent in September, while the index for owners’ equivalent rent rose 0.4 percent over the month.

  • Shelter inflation jumped 3.14% Y/Y vs 2.84% in August, highest since Feb 2020

  • Rent inflation was up to 2.43% from 2.12% in August, highest since Nov 2020

Finally, we note that the index for airline fares continued to fall sharply, decreasing 6.4 percent over the month after falling 9.1 percent in August. The apparel index also decreased in September, declining 1.1 percent over the month after rising 0.4 percent in the previous month. The index for used cars and trucks fell 0.7 percent this month, continuing to decline after it decreased 1.5 percent in August.

end

Market Sees 90% Chance Of Rate-Hike By Sept 2022, Long-Bond Screams ‘Policy Error’

 
WEDNESDAY, OCT 13, 2021 – 09:47 AM

The last few days have seen short-term rate trajectories surge higher and this morning’s hotter than expected headline CPI pushed that one step further.

Source: Bloomberg

This has pushed the market’s expectation to the point where it sees a 90% chance of a rate-hike by September…

Source: Bloomberg

That is well ahead (more hawkish) of The Fed’s dot-plot expectations (and we also note that the market has caught UP to The Fed’s 2023 expectations, as it was previously more dovish than The Fed)…

Source: Bloomberg

Nomura’s Charlie McElligott notes that the global front-end is scrambling to pull-forward timing on potential hikes (thus adding risk premium), as Central Banks are forced to play “catch-up” and put the genie back in the bottle

  • For example, there are BIG short positionings being built in Dec22 ED$, which are pricing-in their most hawkish scenario of this cycle, which is corresponding with OI at highs

  • And it’s everywhere across the ED$ curve–ITC: “Since close of 7th Oct, largest changes and all look to be adding to or putting on new shorts: M2 +99k, U2 +34.2k, Z2 +107.5k, Z3 +52k and Z4 +25k”

  • Similarly, looking at systematic trend, we see the Nomura QIS CTA model with “-100% Short” signals established in Eurodollars, Euribor and Sterling contracts over the past 1w+ (only EuroYen as a “long”)—while CTA signals in G10 Bond futs is consensus “short” as well across USD 10Y, EUR, JPY, GBP, AUD, CAD, CHF, FRA and ESP (only ITA holding as a standout “+42% Long”)

  • So… bearish Rates / fixed-income is getting pretty crowded again.

However, while the front-end is leading The Fed down a hawkish rate-hike path, the back-end is screaming “policy error” as the yield curve bear-flattens

Source: Bloomberg

The Fed has a problem.

iii) a  IMPORTANT USA/CONTAINER LOGJAMS//shortages//inflation

Port Of Los Angeles Prepares For 24/7 Operations To Tackle Massive Cargo Backlog 

 
WEDNESDAY, OCT 13, 2021 – 10:29 AM

With more than 80 container ships at anchor and 64 at berths across the Ports of Los Angeles and Long Beach, congestion at the nation’s top ports continues to snarl supply chains. To alleviate bottlenecks threatening the holiday shopping season, the White House has released a memo stating the twin ports will be operating on a 24/7 basis to counter the backlog. 

The shipping industry is in complete chaos, and bottlenecks at Ports of Los Angeles and Long Beach, a point of entry for 40% of containers, continue to experience massive backlog that is disrupting the time it takes goods to reach store shelves, creating price inflation for consumer goods and shortages.

President Biden is expected to meet with “business leaders, port leaders, and union leaders to discuss the challenges at ports across the country and actions each partner can take to address the delays and congestion across the transportation supply chain,” according to the White House. 

“The President will meet with the leadership from the Ports of Los Angeles and Long Beach and the International Longshore and Warehouse Union (ILWU) to discuss the actions they are each taking to address these challenges in Southern California,” the White House continued. 

To solve such a crisis, it appears the Biden administration, businesses leaders, and port officials will “announce a series of public and private commitments to move more goods faster, and strengthen the resiliency of our supply chains, by moving towards 24/7 operations at the Ports of Los Angeles and Long Beach” at a press conference this afternoon. 

Snarled supply chains first became an issue earlier this year for the administration when automakers began to experience production difficulties because of the lack of semiconductor chips. This forced Biden to announce a review of the problem in February. 

Since then, the administration has done very little to alleviate shortages and bottlenecks as they push for more fiscal stimulus, one of the culprits of a massive demand-pull of overseas goods from Asia, straining logistical networks. The problem continues to worsen and adds inflation to the economy that is becoming more persistent than transitory. There’s also the issue of consumer goods shortages ahead of the holiday season. 

Here are the White House’s commitments to resolve the shipping crisis: 

The Port of Los Angeles is expanding to 24/7 operation. The Port of Long Beach expanded operations in mid-September. The Port of Los Angeles is now joining them by adding new off-peak night time shifts and weekend hours. This expansion means the Port of Los Angeles has nearly doubled the hours that cargo will be able to move out of its docks and on highways. 

The International Longshore and Warehouse Union (ILWU) has announced its members are willing to work those extra shifts. This will add needed capacity to put towards clearing existing backlogs. This is an important first step, now the private businesses along the supply chain need to move their operations to 24/7.

Large companies are announcing they will use expanded hours to move more cargo off the docks, so ships can come to shore faster. Unlike leading ports around the world, U.S. ports have failed to realize the full possibility offered by operation on nights and weekends. Moving goods during off-peak hours can help move goods out of ports faster. For example, at the Port of LA, goods move 25 percent faster at night than during the day. These commitments will help unlock capacity in the rest of the system—including highways, railroads and warehouses—by reducing congestion during the day.

The commitments being announced today include:

  • The nation’s largest retailer, Walmart, is committing to increase its use of night-time hours significantly and projects they could increase throughput by as much as 50% over the next several weeks. 
  • UPS is committing to an increased use of 24/7 operations and enhanced data sharing with the ports, which could allow it to move up to 20 percent more containers from the ports.
  • FedEx is committing to work to combine an increase in night time hours with changes to trucking and rail use to increase the volume of containers it will move from the ports. Once these changes are in place, they could double the volume of cargo they can move out of the ports at night.
  • Samsung is committing to move nearly 60% more containers out of these ports by operating 24/7 through the next 90 days. 72% of U.S. homes have at least one Samsung product, from appliances to consumer electronics.
  • The Home Depot is committing to move up to 10% additional containers per week during the newly available off-peak port hours at the Ports of L.A. and Long Beach.
  • Target, which is currently moving about 50 percent of its containers at night, has committed to increasing that amount by 10 percent during the next 90 days to help ease congestion at the ports.

Across these six companies over 3,500 additional containers per week will move at night through the end of the year.

Those boxes contain toys, appliances, bicycles, and furniture that Americans purchased online or at their local small business, and pieces and parts that are sent to U.S. factories for our workers to assemble into products. And this is just a start—these commitments provide a clear market signal to the other businesses along the transportation supply chain—rails, trucks, and warehouses—that there is demand to move additional cargo at off-peak hours.

Secretary Buttigieg and Port Envoy Porcari will continue to work with all stakeholders to help more businesses access these expanded hours, and move the rest of the supply chain towards 24/7 operations.

This effort is part of the ongoing work of the Biden-Harris Supply Chain Disruptions Task Force to continue to identify emerging bottlenecks to the economic recovery and take action to clear them to help families, workers, and businesses get the goods they need.

b) USA COVID/VACCINE UPDATES//VACCINE MANDATES

 

end

end

c) uSA economic commentaries

Quarles is no longer Chair Committee on supervision and that sets stage for Democrat Brainard ascent.

Fed’s Quarles To No Longer Chair Committee On Supervision, Setting Stage For Brainard Ascent

 
TUESDAY, OCT 12, 2021 – 06:30 PM

While Fed watchers are on edge over the fate of Fed vice chair Richard Clarida, and whether the recent revelations about his stock trades will make him the third senior Fed official to step down as a result of his potentially illicit stock trades (as a reminder, he traded out of $1-$5 million in a Pimco bond fund on Feb. 27, 2020, and on the same day bought between $1 and $5 million of the Pimco StocksPlus Fund, one day before an emergency market-moving announcement by Chair Powell), moments ago the Fed announced that Fed Vice Chairman for Supervision Randal Quarles will be removed from his role as the main watchdog of Wall Street banks after his title officially expires Wednesday. The Fed made the announcement in a statement that seeks to answer key questions for banks and Democrats about how the Trump appointee’s era of oversight will end.

“In light of the expiration of the vice chair’s term, he will no longer chair the committee on supervision and regulation,” the Fed said in a statement. The committee will meet “on an unchaired basis,” and only matters that all the members can agree on will be forwarded to the full board, the statement said.

Quarles – who also sits on the Fed’s board of governors – will cease to be chairman of the central bank’s supervisory committee, leaving the panel without a leader. That means Lael Brainard, the board’s lone Democrat who has more seniority at the Fed, and Governor Michelle Bowman will equally share responsibilities with Quarles. Joe Biden has yet to nominate a candidate for the supervision role, which would also be subject to Senate confirmation.

Quarles hasn’t said how long he will stay at the Fed as governor but it is likely he will step down shortly.

As Bloomberg previously reported, Biden’s advisers are considering a recommendation that the president renominate Chair Jerome Powell and appoint Brainard as the vice chair for supervision. The Fed’s bank-supervision chief is the regulator with the longest reach into Wall Street banking. The decision on the vice chair is entangled with Biden’s decision about whether to nominate Powell for a second term. 

With Quarles imminent departure, yet another hawk is set to part ways with the Fed. If he is replaced by Brainard it means that the balance of power will tip further toward the Doves.

 

END

iv) Swamp commentaries/

Garbage!

Watch: $100 Million Border Wall Discarded In Field While Biden Still Pays Contractors To Not Build It

 
WEDNESDAY, OCT 13, 2021 – 09:30 AM

Authored by Steve Watson via Summit News,

Video has emerged of miles of discarded heavy duty steel fencing left to corrode in a field even though the Biden administration is still paying contractors who were brought in under Trump’s presidency to build a border wall.

The fencing, thought to be worth more than $100 million in taxpayer dollars, was captured on video by a drone in Pharr, Texas.

There are estimated to be 10,000 steel panels just sitting on waste ground, enough for hundreds of miles of wall.

Watch:

Not only are contracted security being paid to guard the materials, with which nothing is being done, but as former chief of the Border Patrol Rodney Scott outlined last week, the Biden administration is still paying contractors who were supposed to build the border wall up to $5 million per day even though all construction has been halted.

“There are stacks and stacks of border wall panels, there’s hundreds of miles of fiber optic cabling, there’s hundreds of cameras that were being installed with that, that are just sitting, there’s no action being taken,” Scott noted.

“We’re not building more wall. There’s no conversation. There’s no there’s no adult dialogue, if you will,” Scott further urged, adding “It’s just a black and white decision. The administration said we’re not doing it. So we’re not doing it. That money is just trickling away to those contractors for not doing work each day.”

*  *  *

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

Tuesday

China Tech Stocks Extend Rebound on Relief Over Meituan Fine
Chinese technology stocks continued their rebound on Monday after Beijing slapped a smaller-than-expected fine on food delivery giant Meituan…
https://www.yahoo.com/now/china-tech-stocks-extend-rebound-023448959.html

WTI Oil rallied to $82.18; Brent Oil hit $84.60.

Fertilizer Prices Hit Record Highs, May Pressure Food Inflation Even Higher
https://www.zerohedge.com/commodities/fertilizer-hit-record-highs-which-may-pressure-food-inflation-even-higher
Merck asks FDA to authorize anti-COVID pill for emergency
If cleared by the Food and Drug Administration — a decision that could come in a matter of weeks — it would be the first pill shown to treat COVID-19. All other FDA-backed treatments against the disease require an IV or injection…  https://www.foxbusiness.com/lifestyle/merck-asks-fda-authorize-covid-pill

Pentagon’s First Software Chief Resigns, Says U.S. Has Already Lost to China On Cyber: ‘It’s Already a Done Deal’ – Chaillan blamed misallocation of military resources, overregulation, and the failure of U.S. tech companies to aid the federal government in tech research for the United States’ poor position on tech and cyber… He added US cyber defences in some government departments were at “kindergarten level”.  He also blamed the reluctance of Google to work with the US defence department on AI… By contrast, he said Chinese companies are obliged to work with Beijing, and were making “massive investment” into AI without regard to ethics…
https://www.dailywire.com/news/pentagons-first-software-chief-resigns-says-u-s-has-already-lost-to-china-on-cyber-its-already-a-done-deal

China’s bond markets slump again as new Evergrande deadline passes
High-yield Chinese bond markets were being routed once again as fears about fast-spreading contagion in the $5 trillion sector, which drives a sizable chunk of the Chinese economy, continued to savage sentiment… “It’s a disastrous day,” said Clarence Tam, fixed income portfolio manager at Avenue Asset Management in Hong Kong, highlighting how even some supposedly safer “investment grade” firms had now seen 20% wiped off their bonds
https://www.reuters.com/world/china/china-evergrande-bondholders-brace-mondays-coupon-deadline-2021-10-11/

Get used to higher food prices, says Kraft Heinz
Mr Patricio says that consumers will need to get used to higher food prices given that the world’s population is rising whilst the amount of land on which to grow food is not. In the longer term “there’s a lot to come in technology to improve the effectiveness of farmers” that will help…
https://www.msn.com/en-us/news/world/get-used-to-higher-food-prices-says-kraft-heinz/ar-AAPkTZg

Kamala Harris’s NASA video featured child actors
https://news.yahoo.com/kamala-harriss-widely-mocked-nasa-195400814.html

 

@TimMurtaugh: This just keeps getting better. The company producing Kamala Harris’ video featuring professional child actors, which is called *Sinking Ship Entertainment* …is based in Canada.

The Big Guy stages Teleprompter readings from a fake WH set.  Harris employs child actors in a (self) promotional video!!! – You can’t make this up!  Where is the MSM?  Can you imagine the MSM/Dem outrage and ridicule if Trump had done this?

Georgia asks DOJ to investigate largest county over alleged destruction of election documents
Fulton County’s elections chief fired two workers who were seen shredding the voter applications on Friday and then disclosed the problem to Secretary of State Brad Raffensperger’s office earlier Monday.
https://justthenews.com/politics-policy/elections/georgia-asks-doj-investigate-largest-county-over-alleged-destruction

Biden 2020 win ‘tainted,’ 56% say it was a cheater’s paradise
By a 65%-28% margin, likely voters told the polling outfit that they believe more mail-in voting options will boost cheating…
https://www.washingtonexaminer.com/opinion/washington-secrets/biden-2020-win-tainted-56-say-it-was-a-cheaters-paradise

I prefer dangerous freedom over peaceful slavery.” — Thomas Jefferson

end

Wednesday

The NY Fed: Consumers’ Inflation Expectations Remain Elevated for the Short- and Medium-Term
Median short-term (one-year-ahead) inflation expectations increased by 0.1 percentage point in September to 5.3%, the eleventh consecutive monthly increase and a new series high since the inception of the survey in 2013. Median medium-term (three-year-ahead) inflation expectations also increased, to 4.2% from 4.0%, representing the third consecutive monthly increase and a new series high…  https://www.newyorkfed.org/newsevents/news/research/2021/20211012
 
@macro_daily: According to the NFIB survey, more firms plan to raise wages than at any point in the past four decades.   https://twitter.com/macro_daily/status/1447949346268450818
 
Small Business Optimism Slips in September as Labor Shortages, Inflation Impact Business Operations – Key Findings include: The NFIB Uncertainty Index increased five points to 74.
    Owners expecting better business conditions over the next six months decreased five points to a net negative 33%.
    Fifty-one percent of owners reported job openings that could not be filled, a 48-year record high for the third consecutive month.
    A net 42% of owners reported raising compensation, a 48-year record high.
https://www.nfib.com/surveys/small-business-economic-trends/
 
@Schuldensuehner: Good Morning from Germany where inflation pressures keep rising. Germany’s wholesale prices jump 13.2% YoY in Sep vs +12.3% in Aug. This was highest monthly annual rate of change since June 1974 after 1st oil crisis. From Aug2021 to Sep2021 wholesale prices rose by 0.8% MoM.   https://twitter.com/Schuldensuehner/status/1447806225530359809
 
Job openings slip, quits rate hits record (2.9%)
The total number of job openings fell by 659,000 to a seasonally adjusted 10.439 million at the end of August, according to the Labor Department’s Job Opening and Labor Turnover Survey, or JOLTS. The number of job openings in July was revised higher by 164,000 to 11.098 million…Separations were little changed at 6 million.  https://www.foxbusiness.com/economy/jolts-job-openings-labor-turnover-survey-august-2021
 
Record 4.3 million Americans quit their jobs in August
The fact that the increase in quits was heavily concentrated in sectors that involve close contact with the public is a sign that fear of COVID also played a large role. Many people may have quit even without other jobs to take… https://wgntv.com/news/record-4-3-million-americans-quit-their-jobs-in-august/
 
Southwest cancels dozens more flights, apologizes for disruptions (~1800 cancellations over weekend)
https://www.upi.com/Top_News/US/2021/10/12/southwest-airlines-flights-canceled-apology/2701634049635/
https://www.kxan.com/news/local/southwest-airlines-cancels-dozens-of-austin-flights-during-busy-weekend/
 
@tomselliott: Southwest CEO blames Biden for vax mandate: “I’m not in favor of that, never have been. But the executive order from President Biden mandates that all federal employees, and then all federal contractors, which covers all the major airlines, have to have a mandate.”
https://twitter.com/tomselliott/status/1447924663372427288
 
@seanmdav: Another lie. There is no federal vaccine mandateThere’s no executive order, no federal regulation. It was a press release.
 
Yesterday afternoon, Southwest Air CEO Kelly said the airline would NOT fire unvaxxed employees.
 
@Rasmussen_Poll: @POTUS Approval Index is now at -30. (20 Strongly Approve / 50 Strongly Disapprove) https://bit.ly/3mOpctE  The last time our Presidential Approval Index was at -30 was in January of 2009 (End of W Bush’s term).

China denies WHO access to bat caves in search for COVID originshttps://trib.al/JweZoke

Why Are So Many People Still Dying from COVID?
Remember death count tickers on Fox News and CNN, excitedly chronicling each additional COVID fatality? There was hysteria about ventilator shortages and hospital ICUs busting at the seams, requiring makeshift hospitals and U.S. Navy hospital ships that Trump provided and that went mostly unused.
    The media criticized every Trump word, tweet, and initiative. Each death was blamed on Trump…
    Yet more are dead under the steady seasoned hand of Joe Biden, and the year is only three quarters over. How can this be?…
    A year ago, no one was vaccinated and far fewer had natural immunity, yet cases and deaths are up over a year ago. And it’s solely due to the remaining unvaccinated? Could the vaccines not be working as expected?…Are more people dying now from COVID, the vaccines, or both?…
    On the science side, the vaccines create antibodies to the COVID spike protein but not the other viral proteins including envelope, membrane, and nucleocapsid
    Just look at therapeutics. Japan and India introduced ivermectin as an early outpatient treatment option and their COVID cases promptly plummetedMembers of Congress and their staffs have reportedly been taking hydroxychloroquine and ivermectin for COVID while trashing the drugs publicly as dangerous or horse paste. Is this following the science?…
https://www.americanthinker.com/articles/2021/10/why_are_so_many_people_still_dying_from_covid.html

@MikeKBerg: Pelosi confirms Democrats plan to use IRS to track bank accounts with as little as $600 in deposits and withdrawals   https://twitter.com/MikeKBerg/status/1447957307179118592

@HouseGOP: Speaker Pelosi gets upset with reporters for not doing a better job selling the House Democrats’ $5.5 TRILLION tax and spend package to the American people.
https://twitter.com/HouseGOP/status/1447956856027111428

SEC reportedly opens inquiry into Wall Street banks’ communications
The Securities and Exchange Commission has opened a broad inquiry into how Wall Street banks are keeping track of employees’ digital communications, three people familiar with the matter told Reuters…
    In August, JPMorgan disclosed that it had been fielding regulatory inquiries concerning its “compliance with records preservation requirements in connection with business communications sent over electronic messaging channels” that the bank had not approved. It said it was discussing a “resolution” with regulators, without specifying which ones…
https://nypost.com/2021/10/12/sec-opens-inquiry-into-wall-street-banks-staff-communications/

Fed’s Bullard says bond purchases should be tapered quickly in case rate hikes are needed
https://www.cnbc.com/2021/10/12/feds-bullard-says-bond-purchases-should-be-tapered-quickly-in-case-rate-hikes-are-needed.html

Today – September CPI will dictate trading in the hour before the NYSE open and probably for some of the first hour of trading.  JPM’s results and guidance could also be a factor.

The first two sessions this week have been similar: ESZs decline sharply during Asian trading; rally sharply in early NYSE trading and then sink in the afternoon.  Can the supporting forces keep stocks buoyant during the Q3 results reporting season?

ESZs hit -14.50 at 19:55 ET; someone jazzed them to -2.00 by 20:45 ET.  ESZs are -11.50 at 21:22 ET.

Expected economic data: Sept CPI 0.3% m/m, Core 0.2% m/m; FOMC Minutes from 9/22 at 14:00 ET

Expected earnings: BLK 9.56, JPM 2.99, DAL .19, FRC 1.84

S&P 500 Index 50-day MA: 4437; 100-day MA: 4362; 150-day MA: 4270; 200-day MA: 4161
DJIA 50-day MA: 34,888; 100-day MA: 34,706; 150-day MA: 34,345; 200-day MA: 33,530

S&P 500 Index – Trender trading model and MACD for key time frames
MonthlyTrender and MACD are positive – a close below 3941.19 triggers a sell signal
Weekly: Trender is positive; MACD is negative – a close below 4337.30 triggers a buy signal
DailyTrender is negative; MACD are positive – a close above 4475.83 triggers a buy signal
Hourly: Trender and MACD are negative – a close above 4381.00 triggers a buy signal

Joe Biden could become embroiled in the FBI’s probe into Hunter’s finances, experts say: Emails reveal they SHARED bank accounts, paid each other’s bills and the president might have funded his son’s 2018 drug and prostitution binge

  • Emails between Hunter and Eric Schwerin, his business partner at consultancy Rosemont Seneca, show Schwerin was working on Joe’s taxes
  • The claim raises serious questions about whether funds from the joint accounts were used for Hunter’s May 2018 week-long bender with a prostitute…

https://www.dailymail.co.uk/news/article-10070093/amp/Joe-Biden-Hunters-shared-bank-accounts-make-president-target-FBI-probe.html

House Budget Committee Chair John Yarmuth announces he won’t seek re-election
https://www.nbcnews.com/politics/meet-the-press/blog/meet-press-blog-latest-news-analysis-data-driving-political-discussion-n988541/ncrd1281320

When an important committee chair announces a retirement, it’s because he/she believes their party is about to lose its majority.

Wisconsin’s election probe zeroes in on Democrat machine tactics, rule changes – Former Supreme Court justice signals focus on whether bureaucrats improperly hijacked election rules…a strong focus on the role election bureaucracies played in changing the rules — without legislative consent — for how ballots were sent out, filled out, collected and counted…
https://justthenews.com/politics-policy/elections/unlike-others-wisconsins-election-probe-zeroes-democrat-machine-tactics

AG’s office issues charges in 3 cases of voter fraud
The Michigan Attorney General and Michigan Secretary of State provided updates on three investigations related to attempted voter fraud, which led to charges against three people.  The three cases stem out of metro Detroit – with one in Macomb County, another in Oakland County and two in Wayne County…
https://www.wxyz.com/news/ags-office-issues-charges-in-3-cases-of-voter-fraud

Mollie Hemingway: What happened during the 2020 election must be investigated and discussed
The last time Democrats fully accepted the legitimacy of a presidential election they lost was in 1988
    “I know he’s an illegitimate president,” Clinton claimed of Trump a few months later. She even said during an interview with “CBS Sunday Morning” that “voter suppression and voter purging and hacking” were the reasons for her defeat.  Former president Jimmy Carter agreed. “[Trump] lost the election and was put into office because the Russians interfered on his behalf,” he told NPR in 2019. “Trump didn’t actually win the election in 2016.”…By 2017, one out of three Democrats in the U.S. House of Representatives boycotted Trump’s inauguration. Many said they refused to take part in the installation of an “illegitimate” president.
    The corporate media didn’t condemn leading Democrats’ refusal to accept the results of the 2016 election. In fact, the media amplified the most speculative claims of how Trump and Russia had colluded to steal the election from Clinton
    From 2016 through 2020, the easiest way to achieve stardom on the political left was to loudly proclaim one’s belief that the 2016 election was illegitimate—stolen by the Russians on behalf of a corrupt traitor. Conspiracy-mongering, up to and including the assertion that the president of the United States was a secret Russian spy, was the highest form of patriotism…
    And then 2020 happened. At the drop of a hat, America’s electoral system went from irredeemably corrupt and broken in 2016 to unquestionably safe in 2020. Voting methods that were allegedly used to steal elections in 2004 and 2016 suddenly became sacrosanct and unquestionable in 2020…
    What happened during the 2020 election must be investigated and discussed, not in spite of media and political opposition to an open inquiry, but because of that opposition. The American people deserve to know what happened… They deserve to know the effect flooding the system with tens of millions of mail-in ballots had on their vote.
    They deserve to know how and why Big Tech and the corporate political media manipulated the news to support certain political narratives while censoring stories they now admit were true.
    They deserve to know why courts were allowed to unilaterally rewrite the rules in the middle of the contest, often without the consent of the legislative bodies charged with writing election laws…
https://www.foxnews.com/opinion/2020-election-investigated-discussed-mollie-hemingway.amp?s=02

The 2020 Election Wasn’t Stolen, It Was Bought by Mark Zuckerberg
The true story of how Mark Zuckerberg privatized the government’s voter registration and vote counting for Democrats in 2020.
    The Center for Technology and Civic Life (CTCL) and The Center for Election Innovation and Research (CEIR) passed a staggering $419.5 million of Zuckerberg’s money into local government elections offices, and it came with strings attached. Every CTCL and CEIR grant spelled out in great detail the conditions under which the grant money was to be used… 
    Big CTCL and CEIR money had nothing to do with traditional campaign finance, lobbying, or other expenses that are related to increasingly expensive modern elections. It had to do with financing the infiltration of election offices at the city and county level by left-wing activists, and using those offices as a platform to implement preferred administrative practices, voting methods, and data-sharing agreements, as well as to launch intensive outreach campaigns in areas heavy with Democratic voters...
https://thefederalist.com/2021/10/12/the-2020-election-wasnt-stolen-it-was-bought-by-mark-zuckerberg/

Man shot driver in Oak Park while on electronic monitoring for *two* gun cases in Chicago, prosecutors say (But loitering or unauthorized demonstrating in the Capitol locks you up!)
https://cwbchicago.com/2021/10/man-shot-driver-in-oak-park-while-on-electronic-monitoring-for-two-gun-cases-in-chicago-prosecutors-sa1.html

Let us close out Wednesday with this offering courtesy of Greg Hunter inteviewing

Bill Holter

Just 72 Hours from Anarchy – Bill Holter

By Greg Hunter On October 12, 2021 In Market Analysis 41 Comments

By Greg Hunter’s USAWatchdog.com 

Financial writer and precious metals expert Bill Holter has long predicted the bloated indebted financial system, at some point, was going to go down.  According to Holter, the wait is over, and he says, “It’s imploding now.  When will it fully go down?  It could be few days a few weeks or maybe a few months, but the system is coming down now. ”

The $62 trillion “Ponzi scheme” real estate market in China is imploding and reportedly has at least $6 trillion in sour debt.  In America and the rest of the world, they are printing more just to keep the system afloat.  It’s in the process of sinking, and that could unleash a financial crash no one alive has ever seen before.  There is big unretractable inflation, labor shortages and severe supply chain disruptions, and it’s going to get worse.  It’s a nightmare of deflation and inflation at the same time.  Holter explains, “In Chinese real estate, the volume has dried up and prices are now following.  That’s obviously a deflation.  Just look worldwide at goods that people need like food and basics.  There is inflation everywhere throughout the entire world.  That inflation is a function of the money supply that has been pumped into the system. . . . Now, the problem is central banks have put too much money into the system, and you are obviously seeing the inflation . . . . 35% of all dollars outstanding today have been created in the last 12 months.”

Holter paints a picture of a near perfect storm for crashing the economy while inflation has been set on fire.  The labor situation is just throwing gas on the inflation fire.  Holter points out, “Of course, inflation is being exacerbated now by the supply chain problems.  You had economies start and stop and start and stop all over the world.  That hurt supply chains.  Now, you have these ridiculous mandates where people value their lives more than they value getting stuck with a clot shot.  So, you’ve got workers that are walking off in the middle of a supply chain crunch only making it worse.”

In closing, Holter says, “At this point, every day you wake up you are only 72 hours away from anarchy.  The reason being is 72 hours is three days.  A person can go three days without food and then pretty much lose it. . . . If you have a system that goes down and store shelves are empty or stores are closed or whatever, you are going to see anarchy. . . . Compared to two years ago, this is night and day.  We are on the doorstep of total tyranny, and at the same time, you have supply problems and obvious financial problems.  You have a broke U.S. Treasury talking about spending another $5 trillion.  Really?  Where is the $5 trillion going to come from?   Oh, we’ll just print it.”

Holter’s advice, “Buy real stuff now,” and “stock up on everything you think you are going to need for the next few years.” Holter also likes gold and silver, especially silver because “it is the most undervalued asset on the planet.” (There is much more in the 34 min. interview.)

See you tomorrow night

Harvey

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