NOV18/GOLD CLOSED DOWN $8.40 TO $1850.60//SILVER DOWN 27 CENTS TO $24.84//COMEX GOLD STANDING INCREASES TO 6.6469 TONNES AND SILVER OZ STANDING INCREASES TO 6.5 MILLION OZ//COVID COMMENTARIES// VACCINE MANDATE UPDATES: NOW AUSTRIA, GERMANY AND ITALY HAVE LOCKDOWN MANDATES FOR THE UNVACCINATED//NURSING HOME IN CONNECTICUT HAS 8 DEATHS AND 80 DELTA CASES DESPITE 100% VACCINATION (NO DOUBT ADE HIT THE HOME)//ALSO IRELAND WITH 93% VACCINATED, WILL INITIATE A PARTIAL LOCKDOWN//RANDY HILLIER MPP FOR OSHAWA HIGHLIGHTS 37 SUDDEN DEATHS AND FORWARDS THESE CASES AS A CRIMINAL CASE TO THE RCMP//UK ALARMED AT HUGE NUMBER OF DEATHS AT THE MORTUARIES//ONTARIO REPORTS OVER 500 CASES OF MYOCARDITIS//ALARM BELLS GOING OFF IN TURKEY AS THEIR LIRA PLUMMETS TO 11.1 TO THE DOLLAR//TURKEY’S USA DOLLAR RESERVES FALL TO EXTREME LOWS//TURKEY ARRESTS ISRAELI COUPLE FOR TAKING PICTURES OF A PALACE NOT IN USE FOR OVER 2 DECADES//STRANGELY THE NUMBER OF AMERICANS ON THE DOLE RISES TO OVER 3.1 MILLION SOULS//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1859.60 DOWN $8.40   The quote is London spot price

Silver:$24.84  DOWN  27  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1859.00
 
silver:  24,78
 
 
 
end
 
I am been informed from Andrew Maguire that sovereign Turkey who has never bought silver, bought the last
 
bastion of silver from refiners.  They paid triple premium to lay their hands on the silver.  The refiners now state that they are out
 
of metal until January.
 
 
 

 

 
 

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

 

 

PLATINUM  $1052.15 DOWN  $7.95

PALLADIUM: $2136.25 DOWN $54.75/OZ 

 

END

Editorial of The New York Sun | February 1, 2021

end

DONATE

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

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

receiving today  1/1

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,869.700000000 USD
INTENT DATE: 11/17/2021 DELIVERY DATE: 11/19/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
661 C JP MORGAN 1
737 C ADVANTAGE 1
____________________________________________________________________________________________

TOTAL: 1 1
MONTH TO DATE: 1,247

Goldman Sachs stopped:0

 

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 1 NOTICE(S) FOR 100 OZ  (0.00311 tonnes)  

 

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  1247 FOR 124,700 OZ  (3.8780 TONNES) 

 

SILVER//NOV CONTRACT

44 NOTICE(S) FILED TODAY FOR  220,000   OZ/

total number of notices filed so far this month 1222  :  for 6,110,000  oz

 

BITCOIN MORNING QUOTE  $59,599  DOLLARS DOWN 203 DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$56,801 DOLLARS  DOWN 3001.DOLLARS 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN $8.40 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .88 TONNES OF GOLD INTO THE GLD..

 

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

 

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

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

THIS IS A MASSIVE FRAUD!!

GLD  976.87 TONNES OF GOLD//

Silver

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

NO CHANGE  IN SILVER INVENTORY AT THE SLV:

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

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

INVENTORY RESTS AT: 

 

548.233  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 173.92  DOWN 0.58 OR 0.33%

XXXXXXXXXXXXX

SLV closing price NYSE 22.96 DOWN. 0.21 OR  0.91%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI ROSE BY A STRONG 847 CONTRACTS TO 153,251, AND CLOSER TO THE NEW RECORD OF 244,710, SET FEB 25/2020. WITH OUR $0.24 GAIN IN SILVER PRICING AT THE COMEX ON WEDNESDAY OUR BANKERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN) (IT ROSE BY $0.24) AND WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A VERY STRONG GAIN OF 1740 CONTRACTS ON OUR TWO EXCHANGES,.WE  ALSO HAD I) HUGE  BANKER SHORT COVERING AS THEY ARE VERY ANXIOUS TO GET OUT OF DODGE!!/WE ALSO HAD  SOME ii) REDDIT RAPTOR BUYING//.   iii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A  GOOD INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 4.34 MILLION OZ FOLLOWING TODAY’S QUEUE JUMP OF 100,000 OZ   / v), STRONG SIZED COMEX OI GAIN
 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS -243
 
 
 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
NOV
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:
 
13,191 CONTACTS  for 14 days, total 13,191 contracts or 65.955million oz…average per day:  942 contracts or 4.711 million oz per day.

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

NOV:  65.955 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON  

 

LAST 6 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//

OCT:  94.595 MILLION OZ

 

 
RESULT:WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1847 WITH OUR 24 CENT GAIN SILVER PRICING AT THE COMEX// WEDNESDAY.
 
THE CME NOTIFIED US THAT WE HAD A  STRONG SIZED EFP ISSUANCE OF 650 CONTRACTS( 0 CONTRACTS ISSUED FOR NOV AND 650 CONTRACTS ISSUED FOR DECEMBER) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS
 
 
 
 
THE DOMINANT FEATURE TODAY:/ AS WELL AS TODAY /HUGE BANKER SHORTCOVERING AS THEY GET OUT OF DODGE//// WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR NOV OF WE HAD A STRONG SIZED GAIN OF 1497 OI CONTRACTS ON THE TWO EXCHANGES4.2 MILLION OZ FOLLOWED BY TODAY’S 100,000 OZ QUEUE JUMP.
 
 
 
 

WE HAD 44 NOTICES FILED TODAY FOR 220,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 7501  CONTRACTS TO 620,113 ,,AND CLOSER TO  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. 

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: 46  CONTRACTS.

THE STRONG SIZED INCREASE IN COMEX OI CAME WITH OUR STRONG GAIN IN PRICE OF $14.10//COMEX GOLD TRADING//WEDNESDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR STRONG SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION  AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALED 12,992 CONTRACTS…..  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 1.444 TONNES, FOLLOWED BY TODAY’S QUEUE JUMP  OF 100 OZ//NEW STANDING 213,700 OZ (6.6469 TONNES) 
 
 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $14.10 WITH RESPECT TO WEDNESDAY’S TRADING

 

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

WE HAD  A STRONG SIZED GAIN OF 12,992  OI CONTRACTS (40.41 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCETHE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5,821CONTRACTS:

FOR DEC 5,491  ALL OTHER MONTHS ZERO//TOTAL: 5491 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 620,113. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A STRONG  SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 13,038 CONTRACTS: 7547 CONTRACTS INCREASED AT THE COMEX AND 5,491 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 13,038 CONTRACTS OR 40.55 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5,491) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (7501 OI): TOTAL GAIN IN THE TWO EXCHANGES: 12,992 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) GOOD INITIAL STANDING AT THE GOLD COMEX FOR NOV. AT 2.395 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 100 OZ  3)ZERO LONG LIQUIDATION,4) STRONG SIZED COMEX OI GAIN 5). STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL 

SPREADING OPERATIONS(/NOW SWITCHING TO GOLD)

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

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

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

 

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

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (DEC), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

NOV

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV : 70,051, CONTRACTS OR 7,005,100 oz OR 217.88 TONNES (14 TRADING DAY(S) AND THUS AVERAGING: 5003 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 14 TRADING DAY(S) IN  TONNES: 217.88 TONNES

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

THUS EFP TRANSFERS REPRESENTS  217.88/3550 x 100% TONNES  6.11% 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:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           217.88 TONNES INITIAL ISSUANCE (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS

 

 

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

 

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

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A STRONG SIZED 847 CONTRACTS TO 153,251AND  CLOSER TO OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  4 1/2 YEARS AGO.  

EFP ISSUANCE 650 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

DEC 650  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  650 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 847 CONTRACTS AND ADD TO THE 650 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A  VERY STRONG SIZED GAIN OF 1497 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 7.485 MILLION  OZ, OCCURRED WITH OUR  $0.24 GAIN IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 
 

3. ASIAN AFFAIRS

i) THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 16.65 PTS OR  0.47%     //Hang Sang CLOSED DOWN 330.36 PTS OR 1.29% /The Nikkei closed DOWN 89.67 PTS OR 0.30%    //Australia’s all ordinaires CLOSED UP 0.12%

/Chinese yuan (ONSHORE) closed DOWN  6.3859   /Oil DOWN TO 77.66 dollars per barrel for WTI and DOWN TO 79.90 for Brent. Stocks in Europe OPENED MOSTLY MIXED   /ONSHORE YUAN CLOSED  DOWN AT 6.3859 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3855/ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 
 
 
 
 
 
 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 7501 CONTRACTS TO 620,113 MOVING CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX INCREASE OCCURRED WITH OUR STRONG GAIN OF $14.10 IN GOLD PRICING  WEDNESDAY’S COMEX TRADING.WE ALSO HAD A STRONG EFP ISSUANCE (5,491 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 NON ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 5,491 EFP CONTRACTS WERE ISSUED:  ;: ,  NOV  :  & DEC. 5,491 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:   5,491 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 VERY STRONG SIZED 12,992  TOTAL CONTRACTS IN THAT 5,491 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A STRONG SIZED COMEX OI OF 7501CONTRACTS..WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR NOV   (6.6469),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 9 MONTHS OF 2021:

OCT.    57.707 TONNES

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- S0CT): 480.912 TONNNES

 

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $14.10)

BUT THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED A HUGE OF 40.41 TONNES,ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR NOV (6.6469 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 -46   CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES :: 12,992 CONTRACTS OR 1,299,200 OZ OR  40.41 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:  620,113 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 62.01 MILLION OZ/32,150 OZ PER TONNE =  19.29TONNES

THE COMEX OPEN INTEREST REPRESENTS 19.29/2200 OR 87,67% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY 229,076 contracts//    / volume//volume fair/

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 212,712 contracts//fair

 

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

 

NOV 18

 

/2021

 
INITIAL STANDINGS FOR NOV COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
5298.810
OZ
 
BRINKS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
NIL
OZ
 
 
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
80,108.037
 
oz
hsbc
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
1  notice(s)
100 OZ
0.100311 TONNES
No of oz to be served (notices)
890 contracts 89000 oz
2.768 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
1247 notices
124700 OZ
 
3.8780 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  1 deposit into the customer account
i) Into HSBC/customer:  80,108.037 oz
 
TOTAL CUSTOMER DEPOSITS 80,108.037 oz
 
 
 
We have 1  customer withdrawals
 
i) Out of Brinks: 5298.910 oz
 
 
 
 
total customer withdrawal   5298.910     oz
     
 
 
 
 
 
 
 
 
 

We had 0  kilobar transactions 0 out of  2 transactions)

ADJUSTMENTS i

Manfra:  removal of 64,147.25 oz  (no reason for removal given)

 

 
For the front month of November we had an open interest of 891 contracts having LOST 52 contracts on the day.
We had  53 notices served on WEDNESDAY so we GAINED  1 contract or an additional 100 oz will  stand for delivery for this very non active delivery month
 
 
 
 
 
 
 
 
 
.
DEC LOST 6,422 CONTRACTS  TO STAND AT 255,473
JANUARY GAINED 4 CONTRACT TO STAND AT 532
 

We had 1 notice(s) filed today for   100  oz

FOR THE NOV 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 1  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 1 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 NOV /2021. contract month, we take the total number of notices filed so far for the month (1247) x 100 oz , to which we add the difference between the open interest for the front month of  (NOV: 891 CONTRACTS ) minus the number of notices served upon today  1 x 100 oz per contract equals 213,600 OZ OR 6.6469 TONNES) the number of ounces standing in this active month of NOV.  

 

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

No of notices filed so far (1247) x 100 oz (891)  OI for the front month minus the number of notices served upon today (1} x 100 oz} which equals 213,500 ostanding OR 6.6469 TONNES in this  active delivery month of NOV.

We GAINED 1 contracts or an additional 100 oz will stand for delivery. 

 

TOTAL COMEX GOLD STANDING:  6.6438 TONNES

 
 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

260,725.414, oz NOW PLEDGED  march 5/2021/HSBC  8.10 TONNES

176,742.600 PLEDGED  MANFRA 5.497 TONNES

288,481,604, oz  JPM  8.97 TONNES

1,149,435.368 oz pledged June 12/2020 Brinks/35.75 TONNES

23,862.404 oz International Delaware:  0.7422 tonnes

LOOMIS:  18,615.429   0.57900

total pledged gold:  1,917,862.8211oz                                     59.65 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 485.73 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 6.6469 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  17,603,658.110 oz or 547.54 tonnes
 
 
 
total weight of pledged:1,917,862.791oz                                     59.65 tonnes
 
 
 
 
 
registered gold that can be used to settle upon: 15,685,796.0 (485.73 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes 15,685,797.0 (485.73 tonnes)   
 
 
total eligible gold: 15,649,313.924 oz   (486.75 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  33,252,972.034 oz or 1,034.31
tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  907.97 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

NOV 18/2021

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//NOV

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
636,987.506  oz
 
 
Delaware
 
 
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
1,457,829.450 oz
Brinks
CNT
HSBC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
44
 
CONTRACT(S)
220,000  OZ)
 
No of oz to be served (notices)
77 contracts
 (385,000 oz)
Total monthly oz silver served (contracts)  1222 contracts

 

6,110,000 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 3 deposits into customer account (ELIGIBLE ACCOUNT)

i) Into CNT  284,514.340 oz

ii) Into Brinks:  583,104.810 oz

iii) Into HSBC  590,210.300 oz

 
 

JPMorgan now has 179.612 million oz  silver inventory or 50.67% of all official comex silver. (179.612 million/354.44 million

total customer deposits today 1,456,829.450 oz

we had 2 withdrawals

i) Out of Delaware: 3012.959 oz

ii) out of CNT: 633,974.547 oz  

 

 

 

total withdrawal 636,987.506       oz

 

adjustments:   1
 
 
 
customer to dealer 1 
i) JPMorgan  2,498,238.400 oz
 
 
 
 
 

Total dealer(registered) silver: 98.339 million oz

total registered and eligible silver:  354.411 million oz

a net  0.820 million oz  enters  the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

For the front month of November we have an  amount of silver standing equal to 121 contracts a LOSS of 134 contracts on the day. We had 154 notices filed on WEDNESDAY so we gained 20 contracts or an additional 100,000 oz will stand in this non active delivery month of November.
 

DEC LOST  5783 CONTRACTS DOWN TO 57,182

JANUARY GAINED 59 CONTRACTS TO STAND AT 1398

 
NO. OF NOTICES FILED: 44  FOR 220,000   OZ.

To calculate the number of silver ounces that will stand for delivery in NOV. we take the total number of notices filed for the month so far at  1222 x 5,000 oz =6,110,000 oz to which we add the difference between the open interest for the front month of NOV (121) and the number of notices served upon today 44 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the NOV./2021 contract month: 1222 (notices served so far) x 5000 oz + OI for front month of NOV(121)  – number of notices served upon today (44) x 5000 oz of silver standing for the NOV contract month .equals 6,495,000 oz. .

We gained 20 contracts or an additional 100,000 oz will stand for silver in this non active delivery month of November.

 

TODAY’S ESTIMATED SILVER VOLUME  78,269 CONTRACTS // volume  fair 

 

FOR YESTERDAY 67,515 contracts  ,CONFIRMED VOLUME/ fair

 

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% (NOV18/2021)

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   (NOV 18)/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

NOV 18/WITH GOLD DOWN $8.40 TODAY:A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .88 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 976.87 TONNES

NOV 17/WITH GOLD UP $14.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.99 TONNES

NOV 16/WITH GOLD DOWN $10.30 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.99 TONNES

NOV 15/WITH GOLD DOWN $1.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORTY AT 975.99 TONNES//

NOV 12/WITH GOLD UP $4.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY AT 975.99 TONNES

NOV 11/WITH GOLD UP  $14.45 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .58 TONES OF GOLD INTO THE GLD////INVENTORY RESTS AT 975.99 TONNES

NOV 10/WITH GOLD UP $18.00 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.41 TONNES

NOV 9/WITH GOLD UP $1.85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.41 TONNES

NOV 8/WITH GOLD UP $11.75 TODAY;NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.41 TONNES

NOVEMBER 5/WITH GOLD UP $22.30 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.66 TONNES FROM THE GLD////INVENTORY RESTS AT 975.41 TONNES

NOV 4/WITH GOLD UP $29.05 TODAY;//A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD/INVENTORY RESTS AT 978.07 TONNES

NOV 3/WITH GOLD DOWN $ 24.10 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY REST AT 979.52 TONNES

NOV 2/WITH GOLD DOWN $6.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 979.52 TONNES

NOV 1/WITH GOLD UP $11.85 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.62 TONNES OF GOLD FROM THE GLD./INVENTORY REST AT 979.52. TONNES

OCT 29/WITH GOLD DOWN $18.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS TONIGHT AT 982.14 TONNES

OCT 28/WITH GOLD UP $3.10 TODAY: A BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES FROM THE GLD////INVENTORY RESTS AT 982.14 TONNES

OCT 27/WITH GOLD UP $7.55 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.20 TONNES INTO THE GLD//INVENTORY REST AT 983.01 TONNES.

OCT 26/WITH GOLD DOWN $13.00 TODAY: A  HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 979.81 TONNES

OCT 25/WITH GOLD UP $10.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 978.07 TONNES

OCT 22/WITH GOLD UP $13.45 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES FROM THE GLD///INVENTORY RESTS AT 978.07 TONNES

OCT 21/ WITH GOLD DOWN $3.20 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 980.10 TONNES

OCT 20/WITH GOLD UP $14.95 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 980.10 TONNES

OCT 19//WITH GOLD UP $4.95 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 980.10 TONNES

OCT 18/WITH GOLD DOWN $2.65 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 980.10 TONNES

OCT 15/WITH GOLD DOWN $28.85 TODAY; A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.62 TONNES FROM THE GLD////INVENTORY RESTS AT 982.72 TONNES.

OCT 14/WITH GOLD UP $3.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 982.72 TONNES

 

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

 
 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Inventory rests tonight at:

 

 

NOV 18 / GLD INVENTORY 976.87 tonnes

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

NOV 18/WITH SILVER DOWN 27 CENTS TODAY/ NO CHANGES IN SILVER STANDING AT THE SLV.//INVENTORY REST AT 548.233 MILLION OZ//

NOV 17/WITH SILVER UP 24 CENTS TODAY: NO  CHANGES IN SILVER STANDING AT THE SLV//INVENTORY RESTS AT 548.233 MILLION OZ//

NOV 16/WITH SILVER DOWN 17 CENTS TODAY: NO CHANGES IN SILVER STANDING AT THE SLV//INVENTORY RESTS AT 548.233 MILLION OZ//

NOV 15/WITH SILVER DOWN 25 CENTS TODAY: NO CHANGES IN SILVER AT THE SLV/ INVENTORY RESTS AT 548.233 MILLION OZ

NOV 12/WITH SILVER UP 8 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 3.933 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 548.233 MILLION OZ//

NOV 11/WITH SILVER UP 51 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.300 MILLION OZ//

NOV 10 WITH SILVER UP 45 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 544.300 MILLION OZ//

NOV 9/WITH SILVER DOWN 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.300 MILLION OZ.

NOV 8/WITH SILVER UP 38 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.300 MILLION OZ//

NOVEMBER 5/WITH SILVER UP 26 CENTS TODAY: A SMALL  CHANGE IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 507,000 OZ FROM THE SLV///INVENTORY RESTS AT 544.300 MILLION OZ//

NOV 4/WITH SILVER UP 52 CENTS TODAY/ A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.312 MILLION OZ INTO THE SL. //INVENTORY RESTS AT 544.807 MILLION OZ//

NOV 3/WITH SILVER DOWN 29 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: AWITHDRAWAL OF 2.777 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 542.495 MILLION OZ//

NOV 2/WITH SILVER DOWN 53 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 226,000 OZ FROM THE SLV///INVENTORY RESTS AT 545.272 MILLION OZ//

NOV 1/WITH SILVER UP 12 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.249 MILLION OZ////INVENTORY RESTS AT 545.498 MILLION OZ//

OCT 29/WITH SILVER DOWN $0.17 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 546.847 MILLION OZ/

OCT 28 WITH SILVER DOWN 5 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.2277 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 546.747 MILLION OZ/

OCT 27/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.520 MILLION OZ//

OCT 26/WITH SILVER DOWN 47 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 544,520 MILLION OZ.

OCT 25/WITH SILVER UP 16 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.036 MILLLION OZ//INVENTORY  RESTS AT 546.562 MILLION OZ//

OCT 22/WITH SILVER UP 26 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 546.562 MILLION OZ//

OCT 21/WITH SILVER DOWN 25 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.055 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 546.562 MILLION OZ

OCT 20/WITH SILVER UP 54 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.166 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 549.617 MILLION OZ//

OCT 19/WITH SILVER UP 52 CENTS TODAY; A SMALL CHANGE IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 232,000 OZ INTO THE SLV////INVENTORY RESTS AT 553.783 MILLION OZ

OCT 18/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.551 MILLION OZ/

OCT 15/WITH SILVER DOWN 13 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 553.551 MILLION OZ/

OCT 14/WITH SILVER UP 32 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 7.406 MILLION OZ//INVENTORY RESTS AT 553.551 MILLION OZ//

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//

 
 
 

NOV 18/2021  SLV INVENTORY RESTS TONIGHT AT 548.233 MILLION OZ

 

 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

Booming Retail Sales Don’t Necessarily Signal “Strong Economy”

 
THURSDAY, NOV 18, 2021 – 03:05 PM

Via SchiffGold.com,

Retail sales surged at a higher than expected rate in October, rising 1.7%.

The mainstream reported this as fantastic news signaling a strong economy.

American consumers are out there buying lots of stuff. The stock market rallied and gold fell.

But the mainstream narrative isn’t giving you the full picture.

There are two important factors to consider as you analyze these surging retail sales numbers.

First, retail sales aren’t inflation-adjusted. The data just reflects the amount of money Americans spent on retail goods. It is as much an inflation indicator as it is a sign of strong buying patterns.

For example, if consumers buy 100 widgets in a month at $1 per widget, and the next month, they only buy 75 widgets, but the price inflates to $2 per widget, retail sales would rise 50%. But consumers only bought 75 widgets. The number of actual units sold fell even while dollar sales went up.

This isn’t a sign of economic strength. It’s just inflation. Consumers are buying less, but they’re paying more.

The Consumer Price Index is sizzling. Rising prices are certainly factoring into the retail sales numbers and plumping them up. The Wall Street Journal claimed retail sales rose “despite high inflation.” No. Retail sales rose because of high inflation. And clearly, buying less and paying more isn’t great economic news.

But the mainstream can still spin this as a positive. They claim the fact that consumers are still spending lots of money despite inflation means they’re optimistic. It signals the economy is healthy. People wouldn’t spend if they didn’t have any money, right?

Or would they?

That brings us to the second point you need to keep in mind – consumer debt is on the rise. Americans might be spending, but they’re putting it on plastic.

Through the pandemic, Americans, by and large, kept their credit cards in their wallets and paid down balances. We saw a big drop in credit card debt with each round of stimulus. Some consumers used their stimmy checks to pay off credit cards. And Americans didn’t need to pull out the Visa since the government stuffed big wads of cash in their pockets.

We saw small upticks in credit card balances in February and March of this year as the recovery began, but a sharp drop in April as stimulus checks rolled out again. But Americans started borrowing in earnest again in May. In September, credit card balances rose by $9.9 billion, an 11.8% year-on-year increase. Americans now owe over $1.01 trillion in credit card debt.

Without stimulus money, Americans are buying stuff the old-fashioned way. They’re charging it.

Of course, it could be that Americans are running up their credit cards because they’re confident in the economy, as the mainstream narrative claims. But it could also be that they don’t have any choice. After all, you have to buy groceries and gas. If Americans don’t have enough cash to pay the higher prices, they have to charge it.

As Peter Schiff explained it, “Higher prices and an absence of stimulus checks forced Americans to borrow more to buy stuff they can’t afford.”

Clearly, this isn’t a sustainable economic model.

Don’t let the mainstream spin fool you. Booming retail sales don’t necessarily mean what they’re telling you. In reality, it’s just a predictable function of a post-pandemic “economic recovery” based on stimulus and debt.

end

LAWRIE WILLIAM//,//Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,James Rickards

Gold Breakout Imminent!

 
THURSDAY, NOV 18, 2021 – 06:30 AM

Authored by James Rickards via DailyReckoning.com,

This is getting ridiculous. And that’s a good thing.

By “this,” I mean the price of gold, and by “ridiculous,” I mean repetitive to the point of absurdity. That’s OK. The prospects for gold from here are highly positive.

By now, readers are tired of my description of gold trading as range-bound between $1,700 per ounce on the low side and $1,900 per ounce on the high side, with $1,800 per ounce as the central tendency. That’s completely accurate but also highly repetitive, since it has held true with only brief and minor exceptions for the past year.

This pattern emerged in November 2020 after gold fell from its all-time high of $2,069 per ounce on Aug. 6, 2020. The predictable question from investors is: “Fine, we get it. But, when does the pattern break either to the upside or downside? What’s next for gold?”

That’s where the good news begins. Yes, gold has been range-bound, but the range is getting smaller. While swings of 5% in a matter of days were common as recently as last summer, that volatility has cooled off. Gold still moves up and down in price, but the swings are much more compact.

The central tendency is still $1,800 per ounce, but the swings are more tightly bunched between $1,750 and $1,850 (again, with a few exceptions). That’s a 5.5% band to replace the prior 11.0% band.

We’re also seeing a pattern of lower highs and higher lows as compression continues. That’s a technical pattern called a pennant because it looks like a sports pennant if you draw converging lines through the highs and lows.

A pennant is a setup for a breakout. The breakout can occur in either direction, but it’s more common for the breakout to continue the trend that existed before the consolidation.

Whether we take the $1,685 price on March 30, 2021, the $1,725 price on Aug. 9, 2021, or the $1,722 price on Sept. 29, 2021, it’s clear that this pennant formed in the wake of an uptrend. This suggests that the breakout will be to the upside and it will occur soon.

There’s a run of fundamental data that supports this technical view.

The first piece of evidence is that the real price of physical bullion today is not $1,864 per ounce (according to the COMEX gold futures contract price), but closer to $2,000 per ounce according to my gold bullion dealer sources.

The difference between the two prices is about 8%.

The problem with this pricing method is that a normal dealer commission is around 2.5%. Any commission higher than that is not really a commission. It’s a reflection of scarcity, delivery delays and other logistical issues in getting actual physical bullion instead of paper gold contracts.

In other words, $1,925 per ounce is the real price of real physical bullion. Everything else is just paper.

The second fundamental factor is that Russia is back in the game. As readers know, Russia has increased its gold reserves by 1,700 metric tonnes since 2009. Gold reserves were 600 metric tonnes in 2009 and are 2,298.5 metric tonnes today, a 283% increase in the past twelve years.

The Central Bank of Russia has pursued this acquisition plan in a steady and incremental way under President Putin and Central Bank Chief Elvira Nabiullina. Acquisitions of gold were regular in amounts of about 5 to 30 metric tonnes per month like clockwork to avoid disrupting the market.

In April of last year, the clock stopped. Russia reduced its holdings slightly in April, July, August, September and October 2020 and January and April 2021. Holdings were unchanged in November and December 2020 and February, March, May and June of 2021.

Now, Russia is back on the buy side. It purchased 3.1 metric tonnes in July 2021 and another 3.1 metric tonnes in September 2021 (August was unchanged). Analysts should not mistake this renewed purchasing as a buying binge by Russia. It’s something more subtle.

Russia is running the world’s most sophisticated hedging operation inside its global reserve account of hard currencies and gold. The object is to maintain gold at about 20% of total reserves. This goal was achieved in early 2020, which accounts for the fact that purchases tailed off after that.

Russia’s reserves are now bulging because of the steeply higher price of oil. This increases Russia’s dollar reserves since oil is priced in dollars. If dollar reserves are increasing and Russia wants to maintain gold at 20% of total reserves, it has to buy more gold to maintain the allocation. This is no different than what everyday investors do when they rebalance target portfolios to account for large gains or losses in a particular asset class.

It’s also consistent with Russia’s hedging objectives. If the dollar retains its value, gold may not move much in price. Still, the allocation of gold in the portfolio acts as insurance. If the dollar crashes in value, the dollar price of gold will soar and Russia’s losses on its dollar portfolio will be offset by gains on its gold portfolio.

In its current form, the dollar is losing value, at least in relation to oil. The dollar price of gold has not moved much. So, that’s an opportune time to buy gold to maintain the hedge without paying a premium. The Russians are masters of this kind of dynamic hedging (unlike Americans). They just proved it again through the combination of expensive oil (generating revenue) and steady gold prices (offering an attractive entry point at which to maintain the hedge).

But Russia’s not alone. Other major central banks that have added materially to their gold reserves in recent months are Thailand (90.20 metric tonnes), Brazil (53.75 metric tonnes), Turkey (8.67 metric tonnes), India (8.4 metric tonnes) and Qatar (3.12 metric tonnes). Some central banks were net sellers, but the total sales of the top five were less than 25 metric tonnes, far smaller than the total additions.

And of course, China has acquired massive amounts of gold in recent years, which has been part of a concerted overall strategy. And recently, Chinese gold imports from Hong Kong hit a five-month high, up nearly 60% in September.

These central bank purchases were in anticipation of a declining dollar and higher dollar inflation. The central banks are buying gold to stay ahead of the curve. Shouldn’t you do the same?

end

ii) Important gold commentaries courtesy of GATA/Chris Powell

END

OTHER IMPORTANT GOLD///ECONOMIC COMMENTARIES

 

***

OTHER COMMODITIES/URANIUM

 
 

END

 

 
CRYPTOCURRENCIES/

Bitcoin Crashes Again…??

What’s the major attraction of crypto? To Wall Street and the Fed the attraction is a place to stash trillions in inflationary (near) bog roll $ Federal Reserve Notes. Next attraction to crypto is the difficulty in taxing profits made .

Many outside the crypto world have wondered about the whole crazy idea: something that is not there worth something that does not exist except by fiat decree. Yes, apparently the electric grid + internet metaverse is considered “existence”* to the extent that puerile slack-jaws Max Keiser and Michael Saylor can go on and on about the death of dollar, how bitcoin is superior to all that, etc etc, while basking in millions made in crypto via the very same derisory $.

Anyway, Fed-Treasury knows how to run their inflationary crypto stash via a raft of metaverse hodlers and associated primary dealers, but can still harass the same to keep a lid on any faint challenge to the primacy of King $. Three things: (1) Fed needs crypto to sterilize trillions in flash-trash. (2) Fed needs to keep the toilet reserve dominant with the world licking at the bowl. And (3) Fed-Treasury must also prepare for Fedcoin’s introduction. But how to balance all three?

Recently crypto appeared to pop by November 9th, but those new highs are increasingly uncomfortable to the Fed, because the Fed hopes to ease an unsuspecting public into adoption of the Fed’s Central Bank Digital Currency (CBDC) eventually. Nothing must challenge that, especially not an efficient means of sterilizing inflationary $ like crypto. Even though crypto provides a prototype assurance for Fedcoin (based on a blockchain model that is not limited in issuance**) the Fed-Treasury-OCC of course must not allow any form of crypto to usurp the dollar as reserve currency of the first order.

So… when crypto’s appeared to breakout – as bitcoin nearly did on November 9th (it reached $68K per unit) something had to be done to halt the rise. With the Fed tapering and scope of federal spending predicted to decline (even with two badly conceived infrastructure bills passed) the use of crypto as a Fed $ hodler stash must not eclipse the dollar use argument. Fact is, the infrastructure bills may not have any impact anyway, even after the current US regime has long since passed. And at the current time its passage seems quite eminent. Wall Street’s reaction to the bills has been lackluster + the possibility that either bill might contain anything that will be useful, or truly assist in rebuilding America’s rotten/financialized core, is just about nil. Exit stage left: infrastructure bill nonsense.

Second, there is an increase in spending by American consumers. They continue to play fast and loose with the inflation threat, where inflation is not enforced to the extent inflationists warn about. For inflationists, there is an embarrassing caveat that this credit-driven populace will find creative ways to avoid spending on the one hand, while spending lavishly on another. For example the property market has slowed while consumer discretionary spending has increased. It’s a game US consumers have played for many years via the boom-bust malaise typical of a global dollar reserve system, where the rest of the world lends and America still lavishly spends.

But the important point…? Well, perhaps some influential lackey of the Fed-governmental cartel has perhaps been reading Novus Confidential: Taxing Bitcoin? Virtually Unenforceable Okay, not really. But check out the infrastructure bill (section 6050IIwhich makes avoidance of tax on crypto a criminal offense. Linkhttps://cointelegraph.com/news/8-word-crypto-amendment-in-infrastructure-bill-an-affront-to-the-rule-of-law As Novus Confidential reported, bitcoin messiahs are primarily attracted to crypto because those profits are so hard to track and tax. 1099? Despite many billions in crypto market transactions in 2020 the US IRS processed only four hundred and seventy-five 1099 reports. Who in the crypto world even remotely touches on that subject? Certainly not Max, Mike, Raoul Pal, or the Winlevoss twins.

Now… in section 6050II of the infrastructure bill the central government says evasion of tax on crypto profits will be considered a criminal offense. But there is zero in the bill about how to detect such, or how to enforce that measure. Pretty typical. It means the current decline in crypto will be temporary because the crypto community will soon twig that 6050II is just more meaningless bullshit from a meaningless bullshit federal government.

*Based on our present reality, only the fantasy may be considered ‘real’ regarding a globe stricken by mass hysteria/ mass psychosis..

** That crypto is not truly of limited subscription is a matter for endless debate, that the crypto community seems loathe to address.

Steve Brown

END

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

i) Chinese yuan vs usa dollar/CLOSED DOWN 6.3859  

 

//OFFSHORE YUAN 6.3855  /shanghai bourse CLOSED DOWN 16.65 PTS OR 0.47% 

 

HANG SANG CLOSED DOWN 330.36 PTS OR 1.29% 

 

2. Nikkei closed DOWN 89.67 PTS OR 0.30% 

 

3. Europe stocks  MOSTLY MIXED

 

USA dollar INDEX DOWN TO  95.70/Euro RISES TO 1.1341-

3b Japan 10 YR bond yield: RISES TO. +.086/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 114.18/ 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//

 

3c Nikkei now JUST ABOVE 17,000

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

3e WTI:: 77.66 and Brent: 79.90

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.0.260%/Italian 10 Yr bond yield FALLS to 0.96% /SPAIN 10 YR BOND YIELD FALLS TO 0.47%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.22: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.21

3k Gold at $1864.25 silver at: 25.09   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 30/100 in roubles/dollar) 72.90

3m oil into the 77 dollar handle for WTI and  79 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 114.18 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 .9266 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0507 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 0.260%

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 1.593% early this morning. Thirty year rate at 1.982%

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

6.  TURKISH LIRA:  UP  TO 10.92..  EXTREMELY DEADLY

Futures Rise To 4,700 “Max Gamma” As Oil Slide Accelerates

 
THURSDAY, NOV 18, 2021 – 08:05 AM

U.S. index futures rose again, trading on top of the massive 4700 “max gamma” level despite downbeat data out of Chinese tech names, as investors awaited the latest batch of unemployment data and taking comfort from signals that central banks will stay far behind the curve and keep pledges to overlook faster inflation rather than rush into rate hikes.

European stocks were steady and Asian equities fell as Chinese tech stocks tumbled after poor results from Baidu and Bilibili. Treasury yields edged higher, the dollar was little changed and gold declined. Bitcoin retreated for a fifth straight day. Oil prices skidded to a six-week low on concern about a supply overhang and the prospect of China, Japan and the United States dipping in to their fuel reserves, with Brent futures last at $79.77, more than 8% off last month’s three-year high. Nasdaq futures rose 86.25 points or 0.53% outperforming S&P 500 futs which were up 11.50 points or 0.25% to 4697.75, after chip giant Nvidia jumped 7% after a sales forecast by the world’s largest chipmaker.

Elsewhere in premarket trading, Cisco dropped 6.6% after the computer networking equipment group’s growth and earnings forecast fell short of expectations while Alibaba slid after reporting sales that missed analyst estimates for a second straight quarter. Some other notable premarket movers:

  • EV makers are mixed in U.S. premarket trading, with Rivian Automotive (RIVN US), Lucid (LCID US) and Canoo (GOEV US) all declining and newly-listed Sono (SEV US) extending its bounce
  • Nvidia (NVDA US) shares gain 7% in U.S. premarket trading, with analysts saying the chipmaker delivered a strong enough quarter to justify its punchy valuation
  • Amtech (ASYS US) fell 22% in post-market trading after reporting fourth quarter revenue that missed estimates from two analysts. The semiconductor stock has risen 139% this year through Wednesday’s trading.
  • Kraft Heinz (KHC US) fell 1.6% in postmarket trading on Wednesday after announcing one of its top holders was selling a portion of its stake.
  • Victoria’s Secret (VSCO US) shares gain 13% in U.S. premarket trading as analysts highlight “better-than- feared” 3Q results for the lingerie retailer.
  • JD.com (JD US) shares advanced 2.2% premarket after it reported net revenue for the third quarter that beat the average analyst estimate.

“While companies are managing to report solid third-quarter numbers, the ability to do so is being tempered by concerns about slimmer margins,” said Michael Hewson, chief market analyst at CMC Markets in London. “One positive thing, aside from the concern over rising inflation, has been the resilience of labor markets, on both sides of the Atlantic.”

The Stoxx Europe 600 Index was little changed with most cash indexes giving back early gains or losses to trade flat as travel and consumer companies gained while the energy and minings industries retreated. FTSE 100 underperformed slightly. Oil & gas was the weakest sector followed by mining stocks. European metals and mining stocks fall 0.8%, the second worst performing sub-index on the benchmark Stoxx 600, amid sinking iron ore futures and copper prices. Iron ore retreated as investors weighed a top producer’s forecasts of a balanced market next year and the impact on miners amid a price collapse in recent months. Diversified miners drop, Glencore -0.8%, Anglo American -1%, BHP -0.7%, Rio Tinto -1.1%; the four stocks account for more than 60% of the SXPP.

Earlier in the session, Asian stocks fell, on track for a second day of losses, as Baidu helped lead a slump in Chinese technology giants.  The MSCI Asia Pacific Index dropped as much as 0.4%, extending its two-day slide to about 0.9%. The Hang Seng Tech Index lost about 3%, as search engine giant Baidu tumbled on worries over the advertising outlook and video-streaming firm Bilibili dropped after posting a larger-than-expected loss. Hong Kong’s Hang Seng Index and China’s CSI 300 benchmark were the worst performing national benchmarks Thursday, while Taiwan’s Taiex managed a small gain. Alibaba also fell, ahead of its highly awaited earnings report later today that may show the impact of Beijing’s regulatory curbs. Japan’s Nikkei was down 0.6% in early trade.

“We do seem to have stalled somewhat as we head into the year end,” said Jun Bei Liu, a portfolio manager at Tribeca Investment Partners in Sydney. “Investors perhaps are just taking a bit of pause,” she said, in the wake of a strong U.S. results season, but as inflation and China’s slowdown loom as macroeconomic headwinds.

“With a bout of earnings having been released and put behind the market, we’re in an environment where investors are inclined to take profits,” said Takashi Ito, an equity market strategist at Nomura Securities in Tokyo. “Investors are likely to cherry pick stocks that have high earnings and ROE and have strong momentum for growth.”  The region’s equities are now poised for a weekly drop after wiping out gains from earlier this week. Anxiety over global inflation has weighed on sentiment as investors search for clues on when central banks will start raising interest rates. Indonesia and the Philippines kept borrowing costs unchanged, as expected, to aid two economies that bore the brunt of Covid-19 outbreaks in Southeast Asia this year.

In rates, treasuries were slightly cheaper across long-end of the curve after S&P 500 and Nasdaq 100 futures breached Wednesday’s highs. Yields are higher by ~1bp in 30-year sector, with 2s10s steeper by ~1bp, 5s30s by ~0.5bp; 10-year is ~1.60%, trailing bunds by ~2bp as traders push back on ECB rate-hike pricing. Focal points Thursday include several Fed speakers and a potentially historic 10-year TIPS auction at 1pm ET – at $14BN, the 10Y TIPS reopening is poised to draw a record low yield near -1.14%; breakeven inflation rate at ~2.71% is within 7bp of Monday’s YTD high. Elsewhere, Gilts outperformed richening ~2.5bps across the curve. Peripheral spreads tighten, semi-core widens marginally.

In FX, the U.S. dollar erased an earlier modest loss and was flat, with majors mostly range-bound. Treasury yields stabilized from overnight declines; the greenback traded mixed versus its Group-of-10 peers, though most were confined to tight ranges, New Zealand’s dollar led G-10 gains after two-year ahead inflation expectations rose to 2.96% in the fourth quarter from 2.27% in the third, according to survey of businesses published by the Reserve Bank of New Zealand. Support in euro- Swiss franc at 1.0500 holds for now and consolidation for risk reversals this week suggests that a breach of the key level may not see a big follow through. The pound inched up and is on its longest winning streak in nearly seven months after this week’s jobs and inflation data fueled confidence that the Bank of England will hike rates.

The Turkish lira plunged to a new all time low, with the USDTRY rising to 10.93 after the central bank cut rates by 100bps.

Currency traders are also assessing a sharp downdraft in the Aussie/yen cross, often a barometer of market sentiment. It fell through its 200-day moving average on Tuesday and has lost almost 4% in a dozen sessions .

“You’ve got the perfect storm there for bears,” said Matt Simpson, senior analyst at brokerage City Index. “Fundamentally and technically Aussie/yen looks pretty good with lower oil prices.”

In commodities, crude futures remained in the red but bounce off worst levels as the potential for SPR releases remains center stage. WTI finds support near $77, recovering toward $78; Brent regains a $80-handle. Spot gold gives back Asia’s small gains, dropping ~$7 to trade near $1,860/oz. Base metals trade poorly, LME zinc and lead underperform.

Looking at the day ahead now, and data releases from the US include the weekly initial jobless claims, the Philadelphia Fed’s business outlook for November, the Kansas City Fed’s manufacturing index for November, and the Conference Board’s leading index for October. Central bank speakers include PBoC Governor Yi Gang, the ECB’s Centeno, Panetta and Lane, and the Fed’s Bostic, Williams, Evans and Daly. There’ll also be a number of decisions from EM central banks, including Bank Indonesia, the Central Bank of Turkey and the South African Reserve Bank. Finally, earnings releases include Intuit, Applied Materials and TJX.

Market Snapshot

  • S&P 500 futures up 0.4% to 4,703.25
  • STOXX Europe 600 up 0.1% to 490.50
  • MXAP down 0.3% to 199.31
  • MXAPJ down 0.6% to 650.79
  • Nikkei down 0.3% to 29,598.66
  • Topix down 0.1% to 2,035.52
  • Hang Seng Index down 1.3% to 25,319.72
  • Shanghai Composite down 0.5% to 3,520.71
  • Sensex down 0.4% to 59,755.91
  • Australia S&P/ASX 200 up 0.1% to 7,379.20
  • Kospi down 0.5% to 2,947.38
  • Brent Futures down 0.1% to $80.18/bbl
  • Gold spot down 0.2% to $1,863.45
  • U.S. Dollar Index little changed at 95.75
  • German 10Y yield little changed at -0.26%
  • Euro little changed at $1.1327

Top Overnight News from Bloomberg

  • More Wall Street banks are wagering that the Federal Reserve will hike rates at a faster-than-expected pace, with Citigroup Inc. joining Morgan Stanley in backing trades that will profit if the central bank does just that
  • China is releasing some oil from its strategic reserves days after the U.S. invited it to participate in a joint sale, suggesting the world’s two biggest oil consumers are willing to work together to keep a lid on energy costs
  • European countries are increasingly forcing reluctant companies to let employees work from home in an effort to break the rapidly spreading fourth wave of the coronavirus pandemic

A more in depth look at global markets courtesy of Newsqauwk

Asia-Pac stocks traded mostly negative with sentiment in the region subdued amid a lack of significant macro drivers and following the uninspired lead from the US – where the major indices finished a choppy session in the red and the DJIA gave up the 36k status. Nonetheless, the ASX 200 (+0.1%) remained afloat with notable strength in gold miners, as well as some consumer stocks, although advances in the index were limited by losses in the financial and energy sectors after similar underperformance stateside amid a decline in yields and oil prices. The Nikkei 225 (-0.3%) was initially dragged lower by unfavourable currency inflows which overshadowed reports that Japan wants to enhance tax breaks for corporations that raise wages, while shares in Eisai were hit after EU regulators placed doubts regarding the approval of Co. and Biogen’s co-developed Alzheimer’s drug and SoftBank also declined after the US regulator raised concerns regarding Nvidia’s acquisition of Arm. However, the index then briefly returned flat in late trade on reports that the Japanese stimulus package is to require JPY 55.7tln of fiscal spending which is higher than the previously speculated of around JPY 40tln. The Hang Seng (-1.3%) and Shanghai Comp. (-0.5%) weakened after another liquidity drain by the PBoC and with the declines in Hong Kong exacerbated by tech selling, while the losses in the mainland were to a lesser extent with China said to be mulling additional industrial policies aimed to support growth and SGH Macro sources suggested the US and China agreed there would be some substantial progress on trade such as the removal of some punitive tariffs by the US and increased purchases of US products by China, although the report highlighted that it was unclear if this would be from a high-profile announcement or a discrete relaxing of tariffs. Finally, 10yr JGBs were initially flat as prices failed to benefit from the subdued risk appetite in Japan and rebound in global peers, while firmer metrics at the 20yr JGB bond auction provided a mild tailwind in late trade although the support was only brief and prices were then pressured on news of the potentially larger than anticipated fiscal spending in PM Kishida’s stimulus package.

Top Asian News

  • China Property Stocks Sink, $4.2 Billion Rush: Evergrande Update
  • Japan’s Kishida Eyes Record Fiscal Firepower to Boost Recovery
  • China Property Firm Shinsun’s Shares and Bonds Slump
  • JD.com Sales Beat Estimates as Investments Start to Pay Off

Major bourses in Europe are choppy, although sentiment picked up following a subdued APAC session but despite a distinct lack of fresh catalysts. US equity futures have also been grinding higher in early European hours, with the NQ (+0.6%) outpacing the ES (+0.3%), RTY (+0.2%) and YM (+0.2%). Back to European cash – broad-based gains are seen across the Euro bourses – which lifted the CAC, DAX and SMI to notch record intraday highs, whilst upside in the UK’s FTSE 100 (-0.2%) has been hampered by hefty losses in today’s lagging sectors– the Energy and Basic Resources – amid price action in the respective markets. Tech names also see a strong performance thus far as chip names cheer NVIDIA (+6% pre-market) earnings yesterday. Overall, sectors have maintained a similarly mixed picture vs the cash open, with no overarching theme. In terms of individual movers, Swatch (+2.8%) and Richemont (+0.6) piggyback on the increase in Swiss Watch Exports vs 2020 and 2019. Metro Bank (-20%) plumbed the depths after terminating takeover talks with Carlyle.

Top European News

  • Royal Mail Hands Investors $540 Million Amid Parcel Surge
  • German Coalition Plans Stricter Rent Increase Regulation: Bild
  • HSBC Sees ECB Sticking With Easy Stance Despite Record Inflation
  • Astra Covid Antibody Data Shows Long-Lasting Protection

In FX, the Kiwi has extended its recovery on heightened RBNZ tightening expectations prompted by significant increases in Q4 inflation projections, with some pundits now assigning a greater probability to the OCR rising 50 bp compared to the 25 bp more generally forecast and factored in. Nzd/Usd is eyeing 0.7050 and the 50 DMA just above (at 0.7054 today) having breached the 100 DMA (0.7026), while the Aud/Nzd cross is probing further below 1.0350 even though the Aussie has found some support into 0.7250 against its US rival and will be encouraged by news that COVID-19 restrictions in the state of Victoria are on the verge of being completely lifted.

  • GBP/EUR/DXY – Notwithstanding Kiwi outperformance, the Dollar has lost a bit more of its bullish momentum to the benefit of most rivals, and several of those that compose the basket. Indeed, Cable has popped above 1.3500, while the Euro is looking more comfortable on the 1.1300 handle as the index retreats further from Wednesday’s new y-t-d peak and away from the psychological 96.000 level into a 95.840-642 range. Ahead, IJC and Philly Fed are due amidst another decent slate of Fed speakers, while Eur/Usd will also be eyeing the latest ECB orators for some direction and Eur/Gbp is back around 0.8400 where decent option expiry interest resides (1.1 bn), but perhaps more focused on latest talks between the UK and EU on the NI dispute.
  • CHF/CAD/JPY – The Franc has pared more declines vs the Buck from sub-0.9300 and remains firm against the Euro near 1.0500 in wake of Swiss trade data showing a wider surplus and pick-up in key watch exports, but the Loonie looks a bit hampered by a more pronounced fall in the price of oil as the US calls on other countries for a concerted SPR tap and China is said to be working on the release of some crude stocks. Usd/Cad is tethered to 1.2600 and highly unlikely to threaten 1.1 bn option expiries at the 1.2500 strike in contrast to the Yen that stalled above 114.00 and could be restrained by 1.4 bn between 113.90 and the round number or 1.3 bn from 114.20-25, if not reports that Japan’s stimulus package may require Jpy 55.7 tn of fiscal spending compared to Jpy 40 tn previously speculated.

In commodities, WTI and Brent front-month futures are off worst levels but still under pressure amid the prospect of looming crude reserves releases, with reports suggesting China is gearing up for its own release. There were also prior source reports that the US was said to have asked other countries to coordinate a release of strategic oil reserves and raised the oil reserve release request with Japan and China. Furthermore, the US tapping of the SPR could be either in the form of a sale and/or loan from the reserve, and the release from the reserve needs to be more than 20mln-30mln bbls to get the message to OPEC, while a source added that the US asked India, South Korea and large oil-consuming countries, but not European countries, to consider oil reserve releases after pleas to OPEC failed. This concoction of headlines guided Brent and WTI futures under USD 80/bbl and USD 78/bbl respectively with early selling also experienced as European players entered the fray. On the geopolitical front, US National security adviser Jake Sullivan raised with his Israeli counterpart the idea of an interim agreement with Iran to buy more time for nuclear negotiations, according to sources. However, two American sources familiar with the call said the officials were just “brainstorming” and that Sullivan passed along an idea put forward by a European ally. Next, participants should continue to expect jawboning from the larger economies that advocated OPEC+ to release more oil. OPEC+ is unlikely to react to prices ahead of next month’s meeting (barring any shocks). Elsewhere, spot gold and silver have been choppy within a tight range. Spot gold trades under USD 1,875/oz – with technicians flagging a Fib around USD 1,876/oz. Spot silver trades on either side of USD 25/oz. Base metals are on a softer footing amid the broader performance across industrial commodities – LME copper remains subdued under the USD 9,500/t level, whilst some reports suggest companies are attempting to arbitrage the copper spread between Shanghai and London.

US Event Calendar

  • 8:30am: Nov. Initial Jobless Claims, est. 260,000, prior 267,000; Continuing Claims, est. 2.12m, prior 2.16m
  • 8:30am: Nov. Philadelphia Fed Business Outl, est. 24.0, prior 23.8
  • 9:45am: Nov. Langer Consumer Comfort, prior 50.3, revised 50.3
  • 10am: Oct. Leading Index, est. 0.8%, prior 0.2%
  • 11am: Nov. Kansas City Fed Manf. Activity, est. 28, prior 31

Central banks

  • 8am: Fed’s Bostic Discusses Regional Outlook
  • 9:30am: Fed’s Williams speaks on Transatlantic responses to pandemic
  • 2pm: Fed’s Evans Takes Part in Moderated Q&A
  • 3:30pm: Fed’s Daly takes part in Fed Listens event

DB’s Jim Reid concludes the overnight wrap

After 9 weeks since surgery, yesterday I got the green light to play golf again from my consultant. Yippee. However he said that he’ll likely see me in 3-5 years to do a procedure called distal femoral osteotomy where he’ll break my femur and realign the leg over the good part of the knee. Basically I have a knee that is very good on the inside half and very bad on the outer lateral side. He’s patched the bad side up but it’s unlikely to last more than a few years before the arthritis becomes too painful. This operation would be aimed at delaying knee replacement for as long as possible! Sounds painful and a bit crazy! Meanwhile I also have a painful slipped disc in my back at the moment that I’m going to have an injection for to hopefully avoid surgery after years of managing it. As you might imagine from reading my posts last week I don’t get much sympathy at home at the moment for my various ailments. In terms of operations and golf I’m turning into a very very poor man’s Tiger Woods!

Markets have been limping a bit over the last 24 hours too as the inflation realities seemed to be a bit more in focus. Those worries were given additional fuel from the UK CPI release for October, which followed the US and the Euro Area in delivering another upside surprise, just as a number of key agricultural prices continued to show significant strength. Oil was down notably though as we’ll discuss below. To add to the mix, the latest global Covid-19 wave has shown no sign of abating yet, even if some countries are better equipped for it than others.

Starting with inflation, one of the main pieces of news arrived yesterday morning, when the UK reported that CPI came in at +4.2% year-on-year in October. That was above every economist’s estimate on Bloomberg, surpassing the +3.9% consensus expectation that was also the BoE’s staff projection in their November Monetary Policy Report. That’s the fastest UK inflation since 2011, and core inflation also surprised on the upside with a +3.4% reading (vs. +3.1% expected). In response to this, our UK economist (link here) is now expecting that CPI will peak at +5.4% in April, with the 2022 annual average CPI still at +4.2%, which is more than double the BoE’s 2% target. The release was also seen as strengthening the case for a December rate hike by the BoE, and sterling was the second best performing G10 currency after being top the day before in response, strengthening +0.45% against the US dollar.

Even as inflation risks mounted however, the major equity indices demonstrated an impressive resilience, with the STOXX 600 (+0.14%) rising for the 17th time in the last 19 sessions. This is the best such streak since June this year, when the index managed to increase 18 of 20 days. We’ll see if that mark is matched today That was a better performance than the S&P 500 (-0.26%). 342 stocks were in the red today, the most in three weeks. Energy (-1.74%) and financials (-1.11%) each declined more than a percent, on lower oil prices and yields, respectively. Real estate (+0.65%) and consumer discretionary (+0.59%) led the way, driven by a +3.25% increase in Tesla. In line with the broad-based retreat, small-caps continued to put in a much weaker performance, with the Russell 2000 shedding -1.16% as it underperformed the S&P for a 4th consecutive session.

Sovereign bonds also managed to advance yesterday, with yields on 10yr Treasuries (-4.5bps) posting their biggest decline in over a week, taking them to 1.59%. Declining inflation expectations drove that move, with the 10yr breakeven down -3.2bps to 2.71%, which was its biggest decline in over two weeks. For Europe it was a different story however, with yields on 10yr bunds only down -0.3bps, just as those on 10yr OATs (+0.1bps) and BTPs (+0.5bps) both moved higher. Most of the Treasury rally was after Europe closed though.

Those moves came against the backdrop of a fairly divergent performance among commodities. On the one hand oil prices fell back, with WTI (-2.97%) closing beneath $80/bbl for only the second time in the last month as speculation continued that the US would tap its strategic reserves. On the other hand, there was no sign of any relenting in European natural gas prices, which rose a further +0.79% yesterday to bring their gains over the last 7 days to +31.57%. That follows the German regulator’s decision to temporarily suspend certification for Nord Stream 2, which has added to fears that Europe will face major supply issues over the winter. And while we’re discussing the factors fuelling inflation, there were some fresh moves higher in agricultural prices as well yesterday, with wheat futures (+1.48%) hitting an 8-year high, and coffee futures (+4.75%) climbing to their highest level in almost a decade.

Central banks will be watching these trends closely. There’s still no word on who’s going to lead the Fed over the next 4 years, but yesterday’s news was that President Biden will make his pick by Thanksgiving. For those keeping track at home, on Tuesday the guidance was within the next four days. So, while it appears momentum toward an announcement is growing, take signaling of any particular day with a grain of salt. On the topic of the Fed, our US economists released their updated Fed outlook yesterday (link here) in which they brought forward their view of the expected liftoff to July 2022, with another rate increase following in Q4 2022. And although it’s not their base case, they acknowledge that incoming data could even push the Fed to speed up their taper and raise rates before June. They don’t see the choice of the next Fed Chair as having much impact on the broad policy trajectory, since inflation next year is likely to still be at high levels that makes most officials uncomfortable, plus the annual rotation of regional Fed presidents with an FOMC vote leans more hawkish next year. So that will constrain the extent to which a new chair could shift matters in a dovish direction, even if they wanted to.

Overnight in Asia stocks are trading mostly in the red outside of a flat KOSPI (+0.01%). The Shanghai Composite (-0.13%), CSI (-0.64%), Nikkei (-0.77%) and Hang Seng (-1.35%) are being dragged down by tech after a bout of Chinese IT companies missed earnings continuing a theme of this earnings season. Elsewhere in Japan, the Nikkei reported that the new economic stimulus package could be around YEN 78.9 tn ($691 bn). Prime Minister Fumio Kishida will announce the package on Friday. Elsewhere S&P 500 (+0.08%) and DAX futures (+0.01%) both fairly flat.

The House of Representatives is slated to begin debate on the Biden social and climate spending ‘build back better’ bill. Word from Congress suggested it could be tabled for a vote as soon as today, though the House has been as profligate missing self-imposed deadlines to vote on the bill as President Biden has been with the announcement of Fed Chair. In addition to the Build Back Better package, there’ll still be plenty of action in Congress over the next month, with another government shutdown looming on December 3, and then a debt ceiling deadline estimated on December 15. The House Budget Chair echoed Treasury Secretary Yellen’s exhortation, and urged Congress to raise the debt ceiling to avoid a government default. Treasury bills are pricing increasing debt ceiling uncertainty during December; yields on bills maturing from mid- to late-December are around double the yields of bills maturing in November and January.

Turning to the pandemic, cases have continued to rise at the global level over recent days, as alarm grows in a number of countries about the potential extent of the winter wave. In Germany, Chancellor Merkel and Vice Chancellor Scholz are taking part in a video conference with state leaders today on the pandemic amidst a major surge in cases. And Sweden’s government said that they planned to bring in a requirement for vaccine passports at indoor events with more than 100 people. In better news however, the UK’s 7-day average of reported cases moved lower for the first time in a week yesterday. Moderna also joined Pfizer in seeking emergency use authorization from the FDA for booster jabs of its Covid vaccines for all adults.

Looking at yesterday’s other data, US housing starts fell in October to an annualised rate of 1.520m (vs. 1.579m expected), whilst the previous months’ reading was also revised lower. Building permits rose by more than expected however, up to an annualised rate of 1.650m (vs. 1.630m expected). Finally, Canada’s CPI inflation reading rose to +4.7% in October as expected, marking the largest annual rise since February 2003.

To the day ahead now, and data releases from the US include the weekly initial jobless claims, the Philadelphia Fed’s business outlook for November, the Kansas City Fed’s manufacturing index for November, and the Conference Board’s leading index for October. Central bank speakers include PBoC Governor Yi Gang, the ECB’s Centeno, Panetta and Lane, and the Fed’s Bostic, Williams, Evans and Daly. There’ll also be a number of decisions from EM central banks, including Bank Indonesia, the Central Bank of Turkey and the South African Reserve Bank. Finally, earnings releases include Intuit, Applied Materials and TJX.

3A/ASIAN AFFAIRS

i) THURSDAY MORNING/WEDNESDAY  NIGHT: 

SHANGHAI CLOSED DOWN 16.65 PTS OR  0.47%     //Hang Sang CLOSED DOWN 330.36 PTS OR 1.29% /The Nikkei closed DOWN 89.67 PTS OR 0.30%    //Australia’s all ordinaires CLOSED UP 0.12%

/Chinese yuan (ONSHORE) closed DOWN  6.3859   /Oil DOWN TO 77.66 dollars per barrel for WTI and DOWN TO 79.90 for Brent. Stocks in Europe OPENED MOSTLY MIXED   /ONSHORE YUAN CLOSED  DOWN AT 6.3859 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3855/ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

3 a./NORTH KOREA/ SOUTH KOREA

/NORTH KOREA//SOUTH KOREA

 

 
 
end

b) REPORT ON JAPAN

JAPAN/

 

3 C CHINA

CHINA//USA

 

end

CHINA//TAIWAN/USA

Taiwan

SPECIAL THANKS TO ROBERT H FOR SENDING THIS TO US:
 

end.

4/EUROPEAN AFFAIRS

AUSTRIA//COVID//VACCINE MANDATE

Despite being highly vaccinated, and well into the lockdown, COVID cases hit a record high. Hospitals are under strain due to ADE like symptoms spreading throughout the country.

(zerohedge)

Days Into Lockdown For The Unvaccinated, Austria COVID Cases Hit Record High

 
THURSDAY, NOV 18, 2021 – 02:45 AM

As the debate rages over the effectiveness of lockdowns in combatting the spread of Covid-19, Austria is experiencing its biggest surge to date, hitting a record high number of confirmed infections three days into its government-imposed total ‘quarantine for the unvaccinated’. 

Daily infections surpassed 14,000 for the first time since the start of the pandemic. On Wednesday health authorities recorded 14,416 new infections, a fresh record, according to Reuters.

This is compared to the peak from a year ago of just under 10,000 daily infections. 

“Papers please!” Austrian police check citizens’ vaccination status, Getty Images

Austria has recently reported that about 65% of its population is now fully vaccinated. At the start of this week the government enacted a ban on any unvaccinated person going outside their home for reasons other than getting food, going to work, or attending health appointments – and even then they are subject to testing. 

In recent days images and footage have emerged of police literally patrolling streets and department stores asking random citizens for proof of vaccination. Those under the stay at home order number at least a couple million unvaccinated Austrians.

Reuters details that despite being days in to the draconian lockdown measures, hospitals in many regions are at capacity:

The situation is worst in two of Austria’s nine provinces, Upper Austria and Salzburg, where hospitals are coming under increasing strainSalzburg has said it is preparing for a triage situation when the number of people needing intensive care beds exceeds supply, though that stage has not yet been reached.

It remains to be seen whether the Austrian government’s plan to essentially “punish” the unvaccinated will actually allay the rapidly rising case numbers. As we previously detailed based on disturbing emerging videos of police in action:

Those caught outside without proof of vaccination face fines of up to $1,660.

Last week, Austria’s Chancellor Alexander Schallenberg said the lockdown was designed to make the unvaccinated “suffer” as everyone else had done during earlier lockdowns.

Whether these draconian patrols will continue remains to be seen.

Recall too that Israel was early on among the “most vaxxed nations”, and yet this summer the country experienced a huge surge as the Delta variant spread.

Israel even had ‘Covid green passes’ – or what amounted to a “vaccine passport” to control the movements of the populace, particularly the unvaxxed, which similar to Austria now were barred from restaurants, hotels, and other public venues. 

END

GERMANY//COVID/VACCINE MANDATE

Now Germany is preparing to impose Austria style lockdowns on the unvaxxed

(zerohedge)

Germany Preparing To Impose Austria-Style Lockdown On The Unvaxx’d

 
THURSDAY, NOV 18, 2021 – 05:00 AM

Authored by Paul Joseph Watson via Summit News,

Germany is preparing to follow the example of Austria by imposing new lockdown measures that will exclusively apply to the unvaccinated.

As we highlighted yesterday, Austrian authorities are enforcing the new measures by having police patrol supermarkets and highways, stopping people and checking their vaccination status.

Similar scenes could now be about to unfold in neighboring Germany.

The Guardian reports that the COVID situation in the country is worse now than it was before the vaccine was introduced.

“On Tuesday the country’s disease control agency, the Robert Koch Institute, recorded a seven-day incidence rate of 312 cases per 100,000 people, with several areas at more than 1,000.

A year ago, before the vaccine was introduced, the rate stood at 139,” reports the newspaper.

While “not as stringent” as the measures imposed on unjabbed Austrians, several states are now moving to exclude the unvaccinated from numerous venues.

The state of Saxony, where 85% of ICU beds are occupied by Covid patients, became the latest to introduce so-called 2G rules in all non-essential shops and facilities, meaning only people who can prove they have been vaccinated or have recovered from Covid will be allowed entry. Saxony’s social minister, Petra Köpping, said that in addition tests would be required if the incidence continued to rise to the extent that hospitals were unable to cope. 2G is a reference to the German words for vaccinated and recovered (geimpft and genesen).

North Rhine Westphalia is due to follow suit, with unvaccinated people to be excluded from entry to all non-essential facilities and events including football matches and Christmas markets. People wanting to attend carnival events as the season kicks off will be required to take a test in addition to being vaccinated or having recovered.

Berlin is also on track to introduced similar “2G-plus” rules, its mayor, Michael Müller, said on Tuesday. The city hopes to reopen vaccine centres, which were closed across the country at the end of the summer when they were deemed no longer necessary, but authorities have said this would happen in January or February at the earliest.

New measures that solely impact the unvaccinated will be imposed despite a choir concert earlier this month in Germany which only the fully vaccinated were allowed to attend ending in a substantial COVID outbreak that infected at least 24 people.

Meanwhile, an opinion poll in the UK found that a majority of Brits also want to impose a lockdown on the unvaccinated.

END

IRELAND/COVID/VACCINE//LOCKDOWNS

Ireland which is basically all vaccinated like Gibraltar is going back into partial lockdowns as new cases escalate.  We promised you that this will happen.  The vaccines only work for a couple of months according to the New England Journal of Medicine

(zerohedge)

93%-Vaccinated Ireland Has Gone Back Into ‘Partial Lockdown’, Including Midnight Curfew

 
THURSDAY, NOV 18, 2021 – 05:45 AM

Amid what’s being called a fourth wave of infections to hit highly vaccinated Ireland, the government on Tuesday unveiled new Covid-related restrictions at a moment many are now worried the country could be headed toward a full nationwide lockdown before Christmas

The new measures take effect Friday, despite government officials confirming that at least 93% of Ireland’s population of over 5 million people are fully vaccinated. This makes Ireland among the most vaccinated countries in the world, and yet similar to what the UK, Israel, and more recently Austria have experienced, infection rates are still exploding. 

The new Irish restrictions, which is being dubbed a semi-lockdown, include a nationwide midnight curfew, new ‘work from home’ guidelines encouraging all who are able to do their job from home, as well as stricter implementation of already existing Covid passes – which will now be required by law in cinemas and theaters. 

Entering the holiday season, it’s the midnight curfew that’s especially controversial – given it will disproportionately hit pubs, restaurants, and entertainment venues the hardest.

 

Image source: The Guardian

One bar industry organization, the Vintners’ Federation of Ireland (VFI), representing some 4,000 Irish pub-owners (or publicans), reacted as follows:

“The news that restricted trading hours are set to be reintroduced is a hugely disappointing development for the many late-night pubs and night clubs many of whom will now be forced to shut just three weeks after reopening.”

The statement spelled out that “The decision to introduce a new closing time of midnight will effectively close many late-night pubs and nightclubs. It will also seriously restrict other outlets at the most critical time of the year.”

Many of these have already survived over a year of on-and-off again forced closures since the start of pandemic, gutting the hospitality industry which is only just now starting to re-emerge. 

As has been the pattern, many Irish officials and pundits are blaming the unvaccinated, despite mainstream media outlets like Sky News pointing out the obvious

The 14-day incidence of the disease currently stands at 959 per 100,000 people.

This is despite having one of the most vaccinated populations, with around 93% of all adults fully vaccinated.

So once again we are seeing an ultra-vaxxed society experiencing an uncontrollable surge in the virus, but the refrain of government leaders remains the same simplistic “solutions”: more restrictions, more vaccines, less freedom.

END

ITALY//COVID.VACCINE MANDATES/LOCKDOWNS

Next on the list to countries to get it wrong: Italy Governors call for unvaccinated to be put under lockdown

(Watson SummitNews)

Italian Governors Call For Unvaccinated To Be Put Under Lockdown

 
THURSDAY, NOV 18, 2021 – 08:19 AM

Authored by Paul Joseph Watson via Summit News,

Five Italian Governors have called for lockdown measures to be imposed on the unvaccinated, following the example of Austria, while Czech Republic and Slovakia are also moving to enforce similar measures.

As we previously highlighted, after Austria placed the unjabbed under lockdown, preventing them from leaving their homes for anything other than “essential reasons,” police were seen patrolling supermarkets and highways checking resident’s vaccination status.

Several states in Germany also announced that they would ban the unvaccinated from numerous venues.

Now Italy’s unvaccinated population, which stands at around 7 million, could be about to face the same form of medical apartheid.

“Eventual new lockdowns should not have to be suffered by those who are vaccinated. Restrictions should only apply to those who are not immunized,” said Massimiliano Fedriga, the Governor of Friuli-Venezia Giulia in the northeast of the country.

The Telegraph reports that, “His stance is supported by the governors of Tuscany, Calabria, Liguria and Piedmont.”

Former Prime Minister Matteo Renzi echoed the demand, tweeting, “You’re not vaccinated? Then stay at home.”

Outgoing Czech Republic Prime Minister Andrej Babis has also announced that the the unvaccinated will be banned from shops and restaurants, with the option to provide a negative test removed (despite the fact that the vaccinated can still transmit the virus).

“The death toll is rising; the situation is serious. Vaccination is the only solution, there is no other,” said Babis.

Meanwhile, Slovakia will vote tomorrow on banning the unvaccinated from non-essential shops, hotels, big public gatherings, gyms and swimming pools.

As we reported earlier, despite the entirety of its adult population being vaccinated, Gibraltar is also urging people not to attend gatherings and has cancelled its official Christmas events.

end

UK

UK’s new 800 million barrel oilfield is in trouble as climate groups want this exploration project suspended.  Doorknobs!

(Bradstock/OilPrice.com) 

The 800 Million Barrel Oilfield Getting Boris Johnson In Trouble

 
THURSDAY, NOV 18, 2021 – 03:30 AM

Authored by Felicity Bradstock via OilPrice.com.

  • Having just hosted COP26 in Glasgow, Boris Johnson is now coming under pressure to cancel plans to explore the Cambo oilfield – a project that is thought to hold 800 million barrels of oil

  • Climate groups argue that the Cambo oilfield exploration contradicts all of the promises and work that was put into COP26

  • Scotland’s First Minister has yet to speak out against Cambo, with industry experts claiming it will produce much-needed low-carbon oil 

The planned Cambo oilfield in the U.K.’s North Sea, thought to hold 800 million barrels of oil, faced significant pressure in the lead up to COP26, as Prime Minister Boris Johnson appeared hypocritical in his promise for a clean energy transition while giving the go-ahead on a new oil exploration project.

Following the global climate summit, will Cambo go ahead?

The proposed exploration would take place in the Cambo oil field, located around 125km west of the Shetland Islands, at a depth of between 1,050m to 1,100m underwater. Johnson continues to back the project, stating that as licensing approval took place in 2001, well before recent considerations for new exploration licensing restrictions, there is no reason to cancel a project that will support the U.K.’s energy security in the coming years. If the project goes ahead, operations in the field could start as early as 2022, with Cambo remaining active for the following 25 years. The development could also help to provide over 1000 jobs, in an industry that suffered greatly during the pandemic. 

Climate activists are staunchly against the new development, suggesting that the first phase of the project alone, which will see the production of 150 million barrels of oil, could produce emissions equivalent to running a coal power plant for 16 years. This August, energy activists delivered an open letter addressed to Johnson in opposition to the project, which received 80,000 signatures

Greenpeace and other environmental groups used the COP26 summit as a stage to oppose Cambo, holding demonstrations outside of the Prime Minister’s Downing Street home as well as in Edinburgh and Glasgow. Activists believe the U.K.’s leading role in COP26, as host to the summit, is contradictory to Johnson’s plans to support Shell and private equity firm Siccar Point Energy’s Cambo development over the coming decades. 

Conversely, others argue it will bring in much-needed revenue and create jobs at a time when oil demand remains high and renewable alternatives are not yet well enough developed to meet this demand. For example, Alister Jack, the UK government’s Scottish secretary, stated that the Cambo oilfield should “100%” get the go-ahead, suggesting that it would be “foolish to think that we can just run away from oil and gas”, referring to the U.K.’s unpreparedness to make a full clean energy transition at this point in time. 

The U.K. government is using this lack of preparedness for the transition to justify the development of Cambo while suggesting that the oilfield will be designed to produce low-carbon oil, similar to projects being established by Norway’s Equinor. In addition, the field will be ‘electrification-ready’, so that it can be run on onshore renewable power once it becomes available. 

In addition, Alok Sharma, the president-designate of COP26, responded to questions over the hypocrisy of COP26 and the development of Cambo by stating, “The IEA report also makes clear that, even in a net zero scenario, there is some element of oil and gas in that.”, in reference to IEA pressure to shift away from fossil fuels to renewable alternatives. 

To date, Scotland’s First Minister, Nicola Sturgeon, has failed to speak in opposition of the Cambo development, to the dismay of many of Scotland’s youths and climate activists. With approximately 71,000 employed in Scotland’s oil and gas industry, Sturgeon must tread lightly when it comes to energy policy, with tens of thousands of jobs at risk as the clean energy transition moves forward. 

The Oil and Gas Authority’s (OGA) refusal to release briefing documents relating to Cambo, last month, only added to the controversy. OGA is the U.K. regulator that oversees the exploration and development of oil and gas fields in the region. The request for documentation relating to the project, using the Freedom of Information Act, came after rumors suggested drilling equipment was due to be installed at the oilfield, even before it has been signed off.

In addition, the unveiling this week of a document from Cambo’s co-owner Siccar Point stating that because of the UK’s “simplified and attractive tax regime… Siccar Point… is not forecasted to pay taxes for many years”, the U.K. government has once again come under fire. Despite Johnson’s post-COP26 statement, urging other countries to take action on climate change, the U.K. still offers some of the most favorable tax conditions for energy companies running oil and gas operations. 

With Cambo holding the potential for reduced reliance on energy imports, improving the U.K.’s energy security in the coming years, the controversial oilfield development looks set to go ahead. However, pressure from environmental activists and the international community could see the need for greater investment in CCS technology and the guarantee of low-carbon oil production if Johnson pushes through with plans.

END

 

ESTONIA/RUSSIA 

My goodness, they are targeting Russia despite the fact that Russia wants no part of war

(zerohedge)

Estonia Orders Snap Military Drill, Calls Up Reservists To Fortify Border With Russia

 
THURSDAY, NOV 18, 2021 – 04:15 AM

The Baltic European Union country of Estonia has ordered previously unannounced military exercises along its border with Russia, at a moment Latvia, Lithuania, and Poland to its south are locked in a standoff with Belarus over the migrant crisis. 

The drills are being interpreted in part as an act of solidarity with Poland and meant to send a message to Belarus and its main geopolitical backer Russia. In particular military reservists are being called up to fortify the border, just like is happening with Estonia’s EU allies, as Reuters reports, “The Estonian government summoned 1,700 reserve soldiers on Wednesday for an unannounced exercise which will include installing a razor wire barrier along 40 km of its border with Russia, as the migration crisis in nearby Belarus intensifies.”

 

Via Reuters

For the past week Poland, Lithuania, and Latvia have had states of emergencies in place at their borders with Belarus, allowing additional forces and reserve units to be called up, as the situation shows no signs of abating anytime soon.

Belarus and by extension Russia have been accused of orchestrating a crisis which has seen thousands of mostly Middle Eastern migrants camped out at key border crossings near northeast Poland, which has included scenes of throngs of migrants trying to forcibly break through the border fence. This has in recent days led to Polish police deployment of riot control measures from the other side of the crossing.

Commenting on the snap Estonian drills, the country’s chief over national Police and Border Guard units Elmar Vaher said, “What is happening in Poland, Lithuania and Latvia also requires the strengthening of the border infrastructure in Estonia.”

But given Estonia does not share a border with Belarus, it simply appears a political move to put continued pressure on Russia, at a moment Belarus has come under fresh EU sanctions over the crisis. Russian airlines (Aeroflot in particular) have also been targeted amid accusations they’ve helped Belarusian carriers in transporting migrants from the Middle East for the sole purpose of sending them to the Polish border for the standoff.

Meanwhile, on the Poland-Belarus border…

 

“The drill, which is planned to last until November 25, was called to test the national chain of command’s swift response, according to the Estonian government,” Reuters details further.

“The reserve solders will assist in the installation of 40 kilometers of razor wire along the Russian border, where the dangers of unlawful crossings are greatest, according to a statement issued by Estonian police and border guard,” notes the report.

Since the collapse of the Soviet Union, Estonia and Russia relations have remained icy, particularly since tiny Estonia’s admission as a full member of NATO. Tensions also rise on occasions when Russian military planes fly near or into Estonian airspace, alerting NATO command.

 

END 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

TURKEY

Turkish lira crashes to record lows after the stupid Turkey Central Bank cuts rates again

(zerohedge)

Turkish Lira Crashes To Record Low After Central Bank Cuts Rates Again

 
THURSDAY, NOV 18, 2021 – 07:18 AM

As was expected, moments ago the Turkish central bank cut its key interest rate for a third month but said it would consider ending the easing cycle from December amid a weakening currency and worsening inflation outlook. The lira crashed to a fresh all time low after staging a feeble rally overnight ahead of the rate cut.

Terrified of being fired by Erdogan, the Monetary Policy Committee heeded the president’s renewed push for lower borrowing costs, and cut its one-week repo rate by 100 basis points to 15%, in line with the median estimate in a Bloomberg poll of 24 economists and the central bank’s own monthly survey.

The cut pushed real yields further below zero as consumer inflation climbed to an annual 19.9% in October. And with inflation set to top 20%, even the lunatic that run the Turkish monetary asylum have to realize that -5% real rate will be devastating and as such, the bank hinted at an end to the rate cuts: “The Committee expects that the transitory effects of supply-side factors and other factors beyond monetary policy’s control on price increases will persist through the first half of 2022,” it said in a statement. The central bank would therefore consider ending the cuts next month, it said.  

That vague promise was not nearly enough to worst-performing major currency of the year, and the lira slumped to a new record low against the dollar after the decision, reversing earlier gains. It was trading 1.4% lower at 10.86 as of 3 pm local time. The lira has weakened more than 30% against the dollar this year, and over 15% this quarter alone, the worst performer among all major currencies tracked by Bloomberg.

Echoing what we have said all along, Piotr Matys, a senior currency analyst at InTouch Capital in London said that “today’s decision provides more evidence that the central bank simply doesn’t care about the value of the lira and rejects the notion that substantial depreciation will have serious negative consequences.” He added that “the market is unlikely to buy into the forward guidance that the easing cycle may end in December. It shouldn’t be called an easing cycle but a dangerous experiment in monetary policy that will have serious negative consequences.”

Yes, like hyperinflation but that’s good for stocks, and as a reminder, it was none other than Erdogan who yesterday was confused why people are complaining about the crashing lira when they can just invest in stonks.

At least today’s rate cut did not take traders by surprise unlike some of the central bank’s recent moves. Investors were bracing for another cut after Erdogan vowed yesterday to keep fighting for lower rates “to the end”. Evoking Islamic teachings that prohibit usury, the comments were the latest iteration of his unorthodox mantra that high borrowing costs cause inflation rather than curbing it.

And, as Bloomberg reminds us, facing imminent termination by the president should the central bank disappoint, the monetary authority had already slashed its policy rate by a total 300 basis points in two consecutive, and unexpected, moves before Thursday’s meeting.

Continuing his campaign to make a mockery of monetary policy, the president told reporters that the central bank would decide its policy independently, amid accusations of intense political pressure on policy makers. However, not heeding his calls has cost central bankers their jobs in the past. Sahap Kavcioglu is the fourth governor since 2019, with the president firing his three immediate predecessors and removing committee members who opposed cuts.

Erdogan’s ruling AK Party has for decades based its electoral success on rapid levels of economic growth, often driven by reducing borrowing costs to encourage credit expansion. When the economy sank during the pandemic, support for Erdogan and his party also fell to all-time lows, prompting him to redouble efforts to propel growth though rising prices are hurting his traditional working class base the most.

As Bloomberg notes, the statistics agency will publish third-quarter gross domestic product growth data on Nov. 30 and October inflation data on Dec. 3. The central bank raised its inflation projections for the end of this year to 18.4%.

END

TURKEY

Outrage after Turkey arrests two vacationing Israelis for photographing a palace of Erdogan, something that has not been in use for decades.

(zerohedge)

Outrage After Turkey Arrests Vacationing “Israeli Spies” For Photographing Erdogan’s Residence

 
WEDNESDAY, NOV 17, 2021 – 07:20 PM

“Every time the ruling regime is embattled at home, it creates a fake crisis,” The Jerusalem Post writes of the Tayyip Erdogan government at a moment of double-digit inflation, a spiraling economy, and international isolation, not to mention a continued low-point in US relations with Biden in the White House.

Israel is charging Ankara precisely with manufacturing a “fake crisis” to distract from problems at home after days ago Turkish authorities arrested an Israeli couple accused of spying. State-run Anadolu news reported last Friday the Israeli couple along with a Turkish citizen were detained after suspicious activity was reported by staff at a restaurant. 

The Turkish news outlet described that “An Israeli couple and a Turkish national are facing espionage charges after being arrested for taking pictures of President Recep Tayyip Erdogan’s residence from the Camlica Tower in Istanbul on Friday.” It’s reportedly illegal to photograph the compound.

 

Via Reuters

“Staff at the tower’s restaurant section saw the Israelis, identified by the initials N.O. and M.O., and Turkish citizen I.A. taking pictures of Erdogan’s residence,” the report said. But strangely the reported focus of their photographs, the waterfront Dolmabahce Palace, is a well-known landmark which hasn’t actively served as the president’s main office for decades.

A lawyer for the detained Israeli citizens told Israel’s Haaretz newspaper that “their only offence involves their photographing Erdogan’s palace during an innocent boat trip.”

Turkish Interior Minister Süleyman Soylu announced Tuesday that “The couple photographed Erdogan’s home; they focused on the house and marked it. “He told a press conference further: “The prosecutor’s office estimates that they committed a crime of military and political espionage, but the court will make the decision in the future.” All of this suggests it’s likely to be a long drawn-out affiar.

With the couple’s continued detention into this week, it’s created a diplomatic firestorm between Israel and Turkey. The Israeli prime minister is now directly involved, with PM Naftali Bennet saying their release is being sought “around the clock, led by the Foreign Ministry… with an aim to bring the problem to its resolution as soon as possible,” according to a statement this week.

 

Times of Israel/Facebook: Mordy and Natali Oknin were arrested in Turkey for photographing Erdogan’s palace.

An op-ed in The Times of Israel speculates that Ankara is looking to use the Israeli nationals’ detention to gain diplomatic and geopolitical leverage over Israel as bargaining chips. Recounting another very recent “spy ring” bust incident, the publication writes:

But the most compelling explanation for Turkey’s behavior ties the detention to an incident in October in which Turkey claimed it had arrested 15 Mossad agents — none of them Israelis — in the country.

“It seems that in exchange for the release of the 15, Turkey demanded something,” posited Hay Eytan Cohen Yanarocak, a Turkey scholar at the Jerusalem Institute for Strategy and Security. “And Israel apparently ignored them, apparently said, ‘What do we care? They’re not Israelis. We don’t know them.’”

In order to increase the pressure on Israel to cough up what Turkish intelligence was after, according to this perspective, Ankara found a Jewish Israeli couple to arrest, figuring they would make for more valuable bargaining chips.

Meanwhile Israeli officials also believe Turkey is merely “fishing” for Israeli intelligence information as well, and again – looking to create a distraction from the economic crisis at home.

One of the crucial details that makes it unlikely the couple are Israeli spies is that they’ve appeared in popular commercials for a bus company in Israel. Additionally

No part of the Turkish claims seems likely. Israel has far more sophisticated ways of attaining photographs of landmark buildings — which doesn’t seem like an especially pressing intelligence priority — than sending two Israeli citizens to openly take pictures in front of them, while speaking Hebrew and posting details of their trip on social media.

Still, Turkey and Israel have never had a good relationship, given especially Turkey gas remained an outspoken critic of Israeli policies in the West Bank and Gaza, particularly in periods with Tel Aviv orders bombing campaigns over the Gaza Strip in response to Hamas rocket fire.

 

IRAN

 

end

POLAND/RUSSIA/BELARUS

 
 

6.Global Issues

CORONAVIRUS UPDATE

This is important. Randy Hiller is an MPP for Oshawa.  He has been booted out of the party for objecting to vaccine mandates. He now sits as an independent.  He has gathered information of 37 sudden deaths and handed them over to the RCMP as a criminal probe.  He suspects that the vaccine has criminal overtones.

(Randy Hiller MPP)

Randy Hiller

 
 
 
 
 
 
[Forwarded from Randy Hillier, MPP]
Public Health Ontario is investigating 37 possible deaths following COVID-19 vaccinations, it is obvious from the many first hand testimonies I have shared that people are not being properly informed of the potential dangers or risks with the vaccine, and our medical system is obstructing, frustrating, or refusing to investigate these suspicious fatalities and injuries to determine their cause.

 

I have now provided this testimony to the OPP and RCMP commissioners, again requesting they open an investigation into these adverse effects and sudden deaths.

Read my letters re-requesting investigations and watch the many video testimonials on my website: https://www.randyhilliermpp.com/adverse_effects/

Share this post with everyone you know. It is important that we start an investigation, please share your stories with me at vaccines@randyhillier.com so that I can provide more evidence of these adverse reactions and deaths. You can also help by signing my petition: https://www.nomorelockdowns.ca/petition_the_opp/

 
 

end

Ontario Canada has now reported over 500 cases of myocarditis after the vaccinatio

(Countersignal.com)

Ontario reports over 500 cases of Myocarditis after vax

 
 
 
 

Ontario reached a new low last week after the government confirmed 521 cases of myocarditis/pericarditis following inoculation with the still-widely-mandated COVID vaccine.

“As of November 7, 2021, there have been 521 reports of myocarditis or pericarditis following receipt of COVID-19 mRNA vaccines in Ontario,” writes Public Health Ontario (PHO) in a report.

“These reports have been identified through case-level review of all reported AEFIs. Of these, 138 (26.5%) were diagnosed with myocarditis and 239 (45.9%) were diagnosed with pericarditis. The remaining 144 (27.6%) were diagnosed with perimyocarditis (n=21), myopericarditis (n=119) and myocarditis/pericarditis (n=4).”

Moreover, the rate of incidents of post-vaccine myocarditis appears to be increasing, as 45 new cases were reported in just the last week, marking a 9.45 per cent increase in a single week.

As PHO notes, young males between 12-24 are the most likely to suffer from post-vaccine myocarditis, usually after the second dose and usually after four to five days after vaccination.

The PHO’s data now shows that males in the 12-17 age group are now reporting myocarditis/pericarditis following the first dose at a rate of 65.3 per million and 133.5 per million following the second dose,  roughly 1 in 5,000 when both reports are combined.

Similarly, and even more damning, males in the 18-24 age group are now reporting myocarditis/pericarditis at a rate of 49.9 per million after the first dose and 181.7 per million after the second dose, roughly 1 report of myocarditis in 4,318 vaccine recipients.

It should be noted that on September 29, Ontario’s Chief Medical Officer Kieran Moore announced they would no longer recommend the Moderna vaccine because of a similar risk factor for males in these age groups.

“This recommendation was based on the advice of Ontario’s Children COVID-19 Vaccine Table, Ontario Vaccine Clinical Advisory Group, and Public Health Ontario and is due to an observed increase in Ontario of the very rare heart condition called pericarditis/myocarditis following vaccination with Moderna compared to Pfizer in the 18 to 24-year-old age group, particularly among males,” stated Moore at the time.

“The majority of reported cases have been mild with individuals recovering quickly, normally with anti-inflammatory medication. Symptoms have typically been reported to start within one week after vaccination, more commonly after the second dose.”

While Moore claims that myocarditis (heart inflammation) is mild, myocarditis is deadly and very often leads to lifetime disability for those who survive.

According to the National Center for Biotechnology, 20 per cent of those who develop myocarditis die in the first year. A full 50 per cent — yes, half — die within five years.

This means that the vaccine can be expected to kill over 250 otherwise healthy people (excluding those who die from other post-vaccine side effects).

Based on the available data, assuming that reports of myocarditis are accurate, if 1 in 4,318 males in the 18-24 year age group end up with post-vaccine myocarditis and 1 in 2 who are diagnosed with myocarditis will die within five years, we can expect the vaccine to kill 1 in 8,636 for those in this demographic who receive the vaccine — significantly higher than their risk from COVID-19 which is absolutely negligible.

end

from my son:

NHS panic as mortuaries fill with thousands of non-Covid deaths – urgent inquiry calls | UK | News | Express.co.uk

 
 
 
 
You don’t need “sketchy” sources any more. It’s out in the open now, the mainstream media can’t hide what is going on. There are a lot of people dying (including fetuses and newborns with cardiac issues) and it is not from Covid.

 

The best data to examine is not Covid data, it is excess death data. It is way above baseline and increasing daily.

 
 
 
end
 
Crooks!!
(Siri/Injecting Freedom)

FDA Wants Until 2076 To Fully Release Pfizer Vaccine Data: Lawsuit

 
THURSDAY, NOV 18, 2021 – 08:45 AM

Authored by attorney Aaron Siri via Injecting Freedom (emphasis ours),

The FDA has asked a federal judge to make the public wait until the year 2076 to disclose all of the data and information it relied upon to license Pfizer’s COVID-19 vaccine. That is not a typo. It wants 55 years to produce this information to the public. 

As explained in a prior article, the FDA repeatedly promised “full transparency” with regard to Covid-19 vaccines, including reaffirming “the FDA’s commitment to transparency” when licensing Pfizer’s COVID-19 vaccine. 

With that promise in mind, in August and immediately following approval of the vaccine, more than 30 academics, professors, and scientists from this country’s most prestigious universities requested the data and information submitted to the FDA by Pfizer to license its COVID-19 vaccine

The FDA’s response?  It produced nothing. So, in September, my firm filed a lawsuit against the FDA on behalf of this group to demand this information. To date, almost three months after it licensed Pfizer’s vaccine, the FDA still has not released a single page. Not one.

Instead, two days ago, the FDA asked a federal judge to give it until 2076 to fully produce this information. The FDA asked the judge to let it produce the 329,000+ pages of documents Pfizer provided to the FDA to license its vaccine at the rate of 500 pages per month, which means its production would not be completed earlier than 2076.  The FDA’s promise of transparency is, to put it mildly, a pile of illusions [ZH, we note that the FDA justifies this by claiming that the rate of 500 pages per month “is consistent with processing schedules entered by courts across the country in FOIA cases,” and blames the plaintiffs for “its own broad FOIA request”].

It took the FDA precisely 108 days from when Pfizer started producing the records for licensure (on May 7, 2021) to when the FDA licensed the Pfizer vaccine (on August 23, 2021).   Taking the FDA at its word, it conducted an intense, robust, thorough, and complete review and analysis of those documents in order to assure that the Pfizer vaccine was safe and effective for licensure. While it can conduct that intense review of Pfizer’s documents in 108 days, it now asks for over 20,000 days to make these documents available to the public. 

So, let’s get this straight. The federal government shields Pfizer from liability.  Gives it billions of dollars.  Makes Americans take its product.  But won’t let you see the data supporting its product’s safety and efficacy.  Who does the government work for? 

The lesson yet again is that civil and individual rights should never be contingent upon a medical procedure.  Everyone who wants to get vaccinated and boosted should be free to do so.  But nobody should be coerced by the government to partake in any medical procedure.  Certainly not one where the government wants to hide the full information relied upon for its licensure until the year 2076!

 

end

GLOBAL ISSUES/GLOBAL INFLATION ISSUES

Food giant Cargill ditches the “transitory” meme.  The CEO warns of persistent food inflation

(zerohedge)

Cargill CEO Ditches ‘Team Transitory’, Warns Of Persistent Food Inflation  

 
WEDNESDAY, NOV 17, 2021 – 06:40 PM

Cargill CEO David MacLennan has changed his mind about “transitory” inflation and now believes it will be more persistent with higher food prices in 2022. He blamed elevated food prices on snarled supply chains, labor shortages, and adverse weather conditions, among other things. 

MacLennan highlighted that labor shortages are a significant challenge for the food industry. He said food processing plants across the country operate at less than full capacity, which drives down food output and prices higher as demand remains robust. 

“I thought inflation in ags and food was transitory. I feel less so now because of continued shortages in labor markets,” MacLennan said during an interview at the Bloomberg New Economy Forum in Singapore. “That’s one of the inputs to the supply chain that we’re watching most carefully.” 

In September, MacLennan was on record saying soaring food costs would be temporary and should recede. Though in the last few months, world food prices hit a new decade high in October, supply chain woes worsened, labor shortages at food processing plants to transportation to ports expanded, adverse weather conditions hit harvests, and transportation and energy costs skyrocketed. It seems the food executive has ditched “team transitory” for a more logical understanding of today’s inflationary environment, one that is persistent. 

“When you have limited supply, that can lead to higher prices,” he said.

MacLennan is late to the party in abandoning the “transitory” narrative. 

Already, we’ve reported food inflation and shortages have hit supermarkets, not just in emerging markets but also in the developed world. In the US, Mondelez CEO Dirk Van de Put recently told CNBC that Oreo cookies, Ritz crackers, and Sour Patch Kids would be more expensive next year. There’s been chatter that Nabisco, PepsiCo, and Coca-Cola will be raising prices, and Kraft Heinz has told consumers that they must get used to “higher prices.” 

Consumers are spending more on food than a year ago. Some have blamed President Biden for the inflation eating away their real wages as polling numbers for the president sink. 

So what’s Biden’s plan to tackle soaring food costs as his administration runs from one crisis to another? Are price controls next?

end

The Media has been declaring that “climate lockdowns” are a conspiracy theory.  Guess again, take a look at India as they prepare to impose a climate lockdown

(Watson/Summitnews)

Media Declares ‘Climate Lockdowns’ A “Conspiracy Theory” As India Prepares To Impose Climate Lockdown

 
WEDNESDAY, NOV 17, 2021 – 10:20 PM

Authored by Paul Joseph Watson via Summit News,

While the media declares the notion of ‘climate lockdowns’ to be a fake news “conspiracy theory,” India is preparing to impose a climate lockdown to reduce pollution.

Yes, really.

NPR reports the details of the lockdown under the headline ‘New Delhi’s air pollution is so bad, officials are calling for a citywide lockdown’.

“India’s Supreme Court is calling for a lockdown in the capital, New Delhi. It’s because of a health emergency, but it’s not about COVID-19. It’s about air pollution,” states the piece.

Authorities are set to ban all nonessential travel on roads in the national capital region while ordering tens of millions of people to work from home.

Construction sites are also closing along with schools, many of which only recently opened after the COVID-19 lockdown.

Delhi’s chief minister is also calling on neighboring states to impose similar measures.

The announcement is timed perfectly given that UK broadcaster Sky News just published a lengthy article claiming that ‘climate lockdowns’ are a fake news conspiracy theory invented by COVID-19 deniers.

“The most common green conspiracy is the claim of an upcoming “climate lockdown”, where countries will be locked down for long periods to meet climate change targets,” states the article, labeling the idea a “”fake theory.”

The article quotes Callum Hood, from the Center for Countering Digital Hate, who says conspiracy theorists are pushing the false idea of climate lockdowns as a means of “justifying their conspiracy theories about the COVID pandemic.”

“As many COVID restrictions are lifted, some of these groups are instead claiming that ‘climate lockdowns’ will be used to achieve the same goals,” said Hood.

So you’re a dangerous conspiracy theorist for suggesting that ‘climate lockdowns’ may be used by governments as a tool of population control…while India is literally rolling out plans to do precisely that.

Note once more how the media and state-backed censors ring fence ideas by declaring them to be “conspiracy theories” and ‘fake news’ even as the second-most populous country in the world is literally about to implement that very agenda.

.

END

Disastrous flooding cuts off Vancouver, Canada from rail and road service

(Thomas/RailwayAge)

Disastrous Flooding Cuts Vancouver Off From Rail, Road Service

 
THURSDAY, NOV 18, 2021 – 10:45 AM

By David Thomas of Railway Age,

Food and toilet paper have been stripped from grocery store shelves across British Columbia as panic buying follows the realization Wednesday, Nov. 17 that the previous day’s Biblical flooding means road and rail connections with Vancouver and southwestern British Columbia could be disrupted for months.

There are now worries of imminent hunger and empty fuel stations in communities cut off from resupply by road or rail, with hundreds of people still marooned and waiting for evacuation by Canadian Forces helicopters. Some communities are without water, sewage power and natural gas as winter temperatures threaten to freeze homes.

Both the CN and Canadian Pacific main lines along the Fraser River are out of service and will require heavy reconstruction of bridges and railbeds. Vancouver, the country’s biggest port, is closed. Coal mined from the Rocky Mountains is piling up at loading terminals along the Continental Divide. Potash unit trains are backed up at mines in Saskatchewan. The Prairie grain harvest, which should be flowing West at peak seasonal volumes, is constrained to CN’s northerly route from Edmonton to Canada’s secondary Pacific port, Prince Rupert.

A trickle of train movements over CP’s Crowsnest Subdivision indicates some traffic may be moving from an interchange with Union Pacific at Eastport, Idaho, but flooding on the U.S. side of the 49th parallel has choked off access to alternative ports at Portland and Seattle.

Both CN and CP are surveying the damage to their shared parallel main lines along the Thompson and Fraser Rivers. On Nov. 16, a CN train derailed on CP track near Yale, B.C. and remains immobile.

“Crews continue to perform critical repair work following the mud slides and washouts that interrupted the movement of railway traffic through southern B.C.,” said CN spokesman Mathieu Gaudreault the afternoon of Nov. 17. “Northbound and eastbound traffic from Vancouver, as well as inbound traffic to Vancouver from east/north of Kamloops, is still impacted by the situation. Crews are working as quickly as they safely can.”

CP media manager Salem Woodrow said the railway “has deployed crews and equipment to the region, and CP engineering teams are working to repair the damaged rail corridor as quickly as possible where safe to do so. There is no time estimate for when service will resume.”

 
LA PALMA VOLCANO ERUPTION

Bushcraft Bear … 350 earthquakes 

 
 
 

Rabo: We Prefer Irrational Markets Under Conservatorship

 
THURSDAY, NOV 18, 2021 – 11:05 AM

By Michael Every of Rabobank

Being ‘rationally irrational’ one more time

It’s no longer a secret that markets are irrational due to central bank action, and where we see suggestions of less action, they are increasingly volatile. This is taken as a bad thing because we prefer markets under conservatorship, like poor old Britney Spears was until recently. (“Get out there and perform, stocks/yields!”) The establishment loves hearing “Oops, I did it again” and/or “Hit Me Baby One More Time,” and it is rationally irrational to do so given the money keeps flowing to them. Other headlines today also show the same rationally irrational thinking.

President Biden ‘asks the FTC to Examine Oil, Gas Companies’ Role in High Gasoline Prices,’ citing “mounting evidence of anti-consumer behavior” and possible illegal conduct. While fully supportive of the anti-cartel executive order passed in July, is Standard Oil or the White House’s shift away from fossil fuels more to blame? At the same time, after a judge blocked a proposed ban, it is moving ahead with an oil-drilling auction in the Gulf of Mexico that climate action groups call legally dubious, “dangerous”, and “hypocritical.

The EU has proposed a measure that would restrict imports to “deforestation-free” goods. Importers of coffee, cocoa, soy, beef, palm oil, and wood –as well as products made from them, such as furniture and chocolate– would be required to identify the geographic coordinates of the land where they were produced. To qualify as “deforestation-free,” the land cannot have been degraded since December 31, 2020. This shows ‘soft’ EU consumer power. However, it will surely increase price pressures in commodities further. At the same time, yesterday saw a leap in spot EU gas prices following Germany’s decision to stall Nord Stream 2 certification, which will keep fertiliser prices high, and so food prices with a lag.

Germany’s outgoing Chancellor Angela Merkel has stated regarding China, “Maybe initially we were rather too naive in our approach to some cooperation partnerships. These days we look more closely, and rightly so.” Not so much at Russian gas. But on China, she adds “Total decoupling wouldn’t be right in my view, it would be damaging for us.” Do we see *any* German decoupling? The EU just postponed a confidential plan to upgrade its trade ties with Taiwan, allegedly at the insistence of von der Leyen. Merkelcantilism is dead: long live Merkelcantilism!

The Edelman Institute have a study on Thought Leadership which says 81% of c-suite executives want provocative ideas which challenge their assumptions on topics. I can recommend a certain Daily to them if so…😉 Yet the survey also shows only 48% awarded new business to thought leaders. Here’s a thought: that’s a coin-toss. Edelman also have a survey of 7,000 global workers which shows most now feel more trust towards their employer than pre-Covid, while employers now see their employees as more important than customers. Yet this comes with quid pro quos.

  • First, job-quitting is universal, which muddies the waters for central banks telling assets to put on their glittery costume and get back on stage.
  • Second, employees are now seeing their firms as an extension of their core identity, with a majority saying: “I would never work in some industries because they are fundamentally immoral” (but oddly, Wall Street is fine?); “I will not work at a company if I disagree with their stand on social issues”; “Organizations I choose to work for are one important way I express my opinions on issues”; and “I’ve left my job solely because the organization remained silent on an issue they had an obligation to address.” In our increasingly polarized times, with a growing list of things we are all worried about, won’t that make our workplaces ‘interesting’.

For employers grappling with supply chains and struggling to retain workers, it certainly promises headaches. Indeed, with most populations split 50-50 on socio-economic issues, or 80-20, but the 20 doing all the shouting, how will this work? (“We just lost Dave from marketing. He quit because he is opposed to the loss of hedgehog habitat as part of the A53 bypass route.”) Do we slowly end up with ‘our’ firms vs. ‘your’ firms that reflect social values rather than the market price of a widget? I can think of a pillow company seen that way. In the same way the West’s liberal revolution was predicated on separation of church and state, the alternative endpoint is logically a separation of work and politics.

In the interim, the BIS makes Edelman’s point in tweeting “#GenderDiversity within an organisation can help combat #ClimateChange: a 1 percentage point increase in female managers in a firm leads to a 0.5% decrease in the firm’s CO2 emissions. #Cop26”, linking to a report that argues: “Our hypothesis finds support in the literature which suggests that women are more inclined to counter climate change as they may be more likely to consider overall societal well-being without focusing narrowly on shareholders’ interest.” Isn’t this “correlation = causation” or gender essentialism? It also runs counter to other research suggesting board diversity increases shareholder returns – unless reducing CO2 equals higher profits. Gender diversity is a good thing – full stop; so is fighting climate change; can we leave it at that?

And the implied impact of the Edelman survey also flows back to food, as Cargill’s CEO states at the Bloomberg New Economy Forum in Singapore that food prices will stay high through 2022 and, “I thought inflation in ags and food was transitory. I feel less so now because of continued shortages in labour markets. That’s one of the inputs to the supply chain that we’re watching most carefully.” He also noted the search for greener airplane fuel and biodiesel is pitting food against energy production –palm oil has soared about 50% in the past year, soybean oil 60%, and Canola is near a record– and the food-versus-fuel tension will become more intense: “The day will come when more agricultural products will be used for energy than food, so it will be incumbent upon the farmers of the world to innovate and become more productive,” he concluded.

Meanwhile, questions linger over what comes after all this stockpiling and inflationary demand: the over-stocking and deflationary collapse? Or the nice calm return to the 2% CPI world we didn’t have pre-Covid? I repeat that this is a metacrisis, which requires metasolutions. We are being offered no macro, and only micro and meso ones.

Now where did I put my sequined leotard? Somewhere near my copy of Lyotard, I think…

end

7. OIL ISSUES

 

8 EMERGING MARKET& AUSTRALIA ISSUES

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

AUSTRALIA

 
end

Euro/USA 1.1341 UP .00023 /EUROPE BOURSES //MOSTLY MIXED

 

USA/ YEN 114.18  DOWN  0.010 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3479  DOWN   0.0009 

 

USA/CAN 1.2602  DOWN 0.0004  (  CDN DOLLAR  UP 4 BASIS PTS )

 

Early THURSDAY morning in Europe, the Euro IS UP by 23 basis points, trading now ABOVE the important 1.08 level RISING to 1.1341

Last night Shanghai COMPOSITE CLOSED DOWN 16.65 PTS OR 0.47%

 

//Hang Sang CLOSED DOWN 330.36 PTS OR 1.29% 

 

/AUSTRALIA CLOSED UP 0.12% // EUROPEAN BOURSES OPENED MOSTLY MIXED

 

Trading from Europe and ASIA

EUROPEAN BOURSES  MOSTLY MIXED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 330.36 PTS OR  1.29%

 

/SHANGHAI CLOSED DOWN 16.65  PTS OR 0.47%

 

Australia BOURSE CLOSED UP 0.12%

Nikkei (Japan) CLOSED DOWN 89.67 POINTS OR 0.30% 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1865.75

silver:$25.02-

Early THURSDAY morning USA 10 year bond yr: 1.593% !!! UP 0 IN POINTS from WEDNESDAY night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.982 UP 0  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 95,70  DOWN 13  CENT(S) from WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  THURSDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.35%  DOWN 4  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.084% UP 1   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.45%// DOWN 5  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.93  DOWN 5    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 48 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –..277% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.21% AND NOW ABOVE   THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY

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

Euro/USA 1.1352  UP .0034    or 34 basis points

USA/Japan: 114.26  UP .072 OR YEN DOWN 7  basis points/

Great Britain/USA 1.3481 DOWN .0007// DOWN7   BASIS POINTS)

Canadian dollar DOWN 18 basis points to 1.2629

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED DOWN)..6.3861  

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)..6.3819

TURKISH LIRA:  11.04  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.084%

Your closing 10 yr US bond yield DOWN 1 IN basis points from WEDNESDAY at 1.584 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.973-  DOWN 1 in basis points on the day

Your closing USA dollar index, 95,71 DOWN12  CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 36.87 PTS OR 0.51% 

 

German Dax :  CLOSED DOWN 32.44 PTS OR 0.20% 

 

Paris CAC CLOSED DOWN  13.76  PTS OR  0.19% 

 

Spain IBEX CLOSED  DOWN 91.80  PTS OR 1.02%

Italian MIB: CLOSED DOWN 158.35 PTS OR 0.57% 

 

WTI Oil price; 78.63 12:00  PM  EST

Brent Oil: 80.87 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    73.26  THE CROSS HIGHER BY 0.66 RUBLES/DOLLAR (RUBLE LOWER BY 66 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.277 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 : 78.82//

BRENT :  81.13

USA 10 YR BOND YIELD: … 1.580..DOWN 1  basis points…

USA 30 YR BOND YIELD: 1.967 DOWN 1  basis points..

EURO/USA 1.1372 UP 0.0084   ( 84 BASIS POINTS)

USA/JAPANESE YEN:114.23 UP  0.042 ( YEN DOWN 4 BASIS POINTS/..

USA DOLLAR INDEX: 95.55 DOWN 28  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3489 UP .0065  

the Turkish lira close: 11.06  DOWN 44 BASIS PTS//HUGE LOSS

the Russian rouble 73.06  DOWN 46  Roubles against the uSA dollar. (DOWN 46 BASIS POINTS)

Canadian dollar:  1.2599 UP 11 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.275%

The Dow closed DOWN 60.10 POINTS OR 0.17%

NASDAQ closed UP 72.14 POINTS OR 0.45%

VOLATILITY INDEX:  17.39 CLOSE UP  0.28

LIBOR 3 MONTH DURATION: 0.1580

 

%//libor dropping like a stone

USA trading day in Graph Form

‘Growth’ Stocks Near Record Highs To ‘Value’, Bitcoin Battered To 2Mo Lows

 
THURSDAY, NOV 18, 2021 – 04:00 PM

A ‘smashing’ Philly Fed survey print (but disappointing Kansas City Fed survey) added to the recent exuberance in ‘soft’ survey data which has – once again – surged higher, stuffed full of hope while real ‘hard’ data barely budges…

Source: Bloomberg

Because ‘hope’ is now a strategy in America…

But stocks were mixed on the ‘good’ news with Nasdaq surging (helped by AAPL) as Small Caps stumbled again. NOTE the early puke was reportedly triggered by comments from Sen. Manchin..

S&P and Nasdaq record highs again.

Retail (Kohls, Manys) and Semis (Nvidia) soared today…

Source: Bloomberg

“Most Shorted” stocks have faded notably in the last two days…

Source: Bloomberg

Nasdaq rallied back to 2-month highs relative to Small Caps…

But remains quite way below the COVID-lockdown peaks…

Source: Bloomberg

But overall Growth stocks have soared back near record highs relative to Value stocks…

Source: Bloomberg

Here’s one more thing to ponder: “Stay at Home” stocks have been dramatically outperforming “Get Out and Party” stocks

Source: Bloomberg

As European COVID cases are literally exploding (and US cases starting to pick up again)…

Source: Bloomberg

AAPL spiked to a new record high intraday on EV headlines…

Salad fast-food joint IPO’d overnight, opening 86% above its IPO price today (and then scrambled to more than double before fading back). At its peak today the company was worth $6 billion, but it closed below its opening price…

Treasury yields were quiet today with a very modest bid for bonds pushing yields in the belly down around 1bps. On the week 2s and 5s are lower in yield, the rest of the curve higher…

Source: Bloomberg

30Y Yields traded in a 3bps range all day and held below 2.00%

Source: Bloomberg

The dollar whipsawed higher but ended lower on the day…

Source: Bloomberg

Interestingly, Swissy is at its strongest versus the Euro since 2015 – that’s quite a ‘safe-haven’ flow indicator…

Source: Bloomberg

Bitcoin tumbled to 2-month lows (and broke back below its 50DMA)…

Source: Bloomberg

Unable to hold $60,000…

Source: Bloomberg

Ethereum traded back below $4000 (but found support at its 50DMA)…

Source: Bloomberg

Gold dipped today…

WTI bounced back modestly today, but remains below $80…

Finding support at its 50DMA…

Source: Bloomberg

Finally, Powell looks to remain the odds-on favorite to keep his job as The Squad’s favorite contender appears to be fading again…

Source: Bloomberg

And we note a big ‘gamma unclench’ during tomorrow’s options expiration but after that, seasonals have your back (if you believe in Santa)…

Remember “you have to believe, to receive.”

END

i)  MORNING TRADING//

end

ii)  USA///DEBT

 

USA DATA

Mysteriously the number of Americans  on the dole climbs above 3 million

(zerohedge)

end

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

b) USA COVID/VACCINE UPDATES//VACCINE MANDATES

8 dead at a Connecticut nursing home  (Geer).  All of the dead were double vaccinated.

(zerohedge)

iii) important USA economic stories

This is important:  two Fed presidents hit the alarm bell over the broken Treasury market

(zerohedge)

(Jeffrey Tucker)

iv) Swamp commentaries/

Boebert is really good as she rips into Omar and Swalwell

(zerohedge)

“Brutal”: Rep. Boebert Rips ‘Jihad Squad’ Omar For ‘Paying Husband’ And Eric Swalwell For ‘Sleeping With The Enemy’

 
WEDNESDAY, NOV 17, 2021 – 10:00 PM

After House Democrats, Liz Cheney and Adam Kinzinger voted 223-207 to censure GOP Repo. Paul Gosar over a now-deleted tweet of the altered intro to “Attack on Titan” in which he appears to slay President Biden and Rep. Alexandria Ocasio-Cortez, Rep. Lauren Boebert took to the House floor on Wednesday to give Democrats a piece of her mind.

First, she ripped “Jihad Squad member” Rep. Ilhan Omar (D-MN) for allegedly paying her husband “and not her brother-husband” over $1 million in campaign funds, adding “this woman is on the foreign affairs committee while praising terrorists.

Boebert also laid into “my colleague, and three-month presidential candidate from California – who is on the intelligence committee – slept with feng-feng, a Chinese spy.”

Watch:

Both Swalwell and Omar responded Wednesday after the rant: 

Are you not entertained?

end
Ridiculous:  House censures Rep Gosar over his anime video
(zerohedge)
 

House Censures Rep. Gosar, Strips His Committee Seats Over AOC Animé Video

 
WEDNESDAY, NOV 17, 2021 – 05:20 PM

The House on Wednesday voted 223-207 to censure Republican Rep. Paul Gosar following a video he posted on Twitter (which has now been deleted) that features him as an animé character attacking President Joe Biden and Rep. Alexandria Ocasio-Cortez.

The video in question, which Gosar posted Sunday night, depicts Gosar’s face edited onto a character from popular anime show “Attack on Titan,” parodying the show’s opening credits. At one point in the video, Gosar’s character, wielding two swords, attacks characters with Ocasio-Cortez’s and Biden’s faces.

Gosar also posted a meme, mocking the backlash he received for the original video…

Ahead of the vote, AOC told reporters that “in a perfect world” Gosar would be expelled from the House, but, as RCP’s Carl Cannon noted, she’ll take what pound of flesh she can get — namely the neutering of the “creepy” congressman.

Her fellow Democrats were all in. Calling Gosar’s video “an insult to the institution of the House of Representatives,” Speaker Nancy Pelosi said, “We cannot have members joking about murdering each other as well as threatening the president of the United States.

Two of Pelosi’s fellow Californians, Reps. Adam Schiff and Ted Lieu, labeled the entire House GOP “sick” for not joining Democrats in their effort to expel Gosar over his crude spoof.

Did Rep. Ted Lieu, for example, consider Kathy Griffin a “sick” pariah? Did he call for her to be banned or censured or punished? In a word, no.

The resolution also strips Gosar of his main committee assignments which include House Oversight – which Ocasio-Cortez also serves on – as well as the Natural Resources Committee.

Two House Republicans joined the Democrats in censuring Gosar… Reps. Liz Cheney of Wyoming and Adam Kinzinger of Illinois.

end

“I Wish We Had A Real Border Czar”: Texas Dem Congressman Slams VP Kamala Harris

 
THURSDAY, NOV 18, 2021 – 09:44 AM

Right on the heels of Homeland Security Secretary Alejandro Mayorkas admitting that Vice President Kamala Harris has not been “directly” involved in the department’s key policy decisions since taking over as border czar, South Texas Congressman Rep. Henry Cuellar (D-TX) says he’s “moved on” from trying to deal with Harris over the issue of illegal immigration, and now wishes that the country had a competent border czar.

“I’ve moved on from the vice president to say, ‘OK, let’s work with the ambassadors and let’s work with the State Department. Let’s work with the homeland secretary’,” Cuellar said during a Wednesday conference call with reporters, adding “I wish we had a border czar. We’ve had border czars under different administrations.”

Cuellar, who has held office since 2004, noted that the media has “put a lot of focus on the vice president, but with all due respect, she was given that title. I don’t think she’s, with all due respect, put the effort in there… We’ve got to look at other folks that have the expertise on that.”

Cuellar’s Texas congressional district (28th) covers approximately 215 miles of border, and includes the Rio Grande, McAllen, Laredo and eastern San Antonio.

In March, Cuellar supplied the press with photographs of the neglected border facilities, which Rep. Ted Cruz (R-TX) referred to as “Biden Cages.”

Harris took over as border czar from former US ambassador to Mexico, Roberta Jacobson, who quit in April.

Unsurprisingly, Harris blames the Trump administration for the immigration problem.

5

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

Biden calls on FTC to probe anti-consumer behavior by energy companies as gas prices soar
In a letter to Chair Lina Khan Tuesday, Biden said there’s “mounting evidence of anti-consumer behavior by oil and gas companies.”… The letter added that the “two largest oil and gas companies in the United States” — which are Exxon and Chevron based on market capitalization — are on track to almost double their net income compared with 2019 levels, while the two companies have also announced stock buybacks and dividend hikes… (Team Biden diverting attention from its destructive policies.)
https://www.cnbc.com/2021/11/17/biden-calls-on-ftc-to-probe-anti-consumer-behavior-by-energy-companies-as-gas-prices-soar.html

 

US reduces stocks and strategic petroleum reserve by 3.2 million barrels and later this week
The reserves are now at the lowest level since June 2003
https://www.forexlive.com/news/!/us-reduces-strategic-petroleum-reserve-deposits-by-32m-barrels-20211117

U.S. Crude SPR Sees Biggest Draw in More Than a Decade – BBG 10:51 ET
This is the 10th straight week of drawdowns from the nation’s crude reserves, during which more than 15 million barrels of crude have been withdrawn.  At 606 million barrels, SPR is at its lowest since 2003, and it seem more declines are on the horizon.

Target shares tank as profit margins squeezed by price inflation https://trib.al/2bU5mKz

US Housing Starts Tumble for 2nd Straight Month as Homebuyer Sentiment Crashes
US housing starts unexpectedly fell for the second straight month (-0.7% MoM vs +1.5% MoM exp) but US building permits rose more than expected (+4.0% MoM vs +2.8%) from the downward revised 7.8% MoM slump in September) … Single-family Starts fell 3.9% MoM to 1.039mm SAAR – its lowest since Aug 2020 – while Multi-family (rental) unit Starts jumped 6.8% MoM to 470k SAAR… Single-family Permits rose 2.7% MoM while Multi-family unit Permits rose 6.6% MoM…
https://www.zerohedge.com/personal-finance/us-housing-starts-tumble-2nd-straight-month-homebuyer-sentiment-crashes

‘I warned Democrats about inflation. Why didn’t they listen?’ Obama economic advisor Steven Rattner tears into price rises and says the $1.9T American Rescue Plan was the ‘original sin’ because it focused on stimulus payments
https://www.dailymail.co.uk/news/article-10212891/Steven-Rattner-tears-inflation-says-1-9T-American-Rescue-Plan-original-sin.html

@ABC: The number of people who were hospitalized for eating disorders in the U.S. doubled during the COVID-19 pandemic, new research shows.
https://abcnews.go.com/GMA/Wellness/eating-disorder-hospitalizations-doubled-covid-19-pandemic-data/story

 

@ABC: An estimated 100,000 Americans died of drug overdoses in one year, a never-before-seen milestone that health officials say is tied to the COVID-19 pandemic and a more dangerous drug supply.
https://abcnews.go.com/Health/wireStory/us-overdose-deaths-topped-100000-year-officials-81227659

Sen. Ernst to Newsmax: Biden ‘Gave His Backbone Away’ to Xi Jinping… by not demanding answers about the origins of the COVID-19 pandemic… She added that Biden had the opportunity to make it clear to Xi that the United States will not tolerate China’s actions, including the testing of hypersonic missiles or invading Taiwan. “He had the opportunity to demand answers, and he failed,” said Ernst…  https://www.newsmax.com/newsmax-tv/ernst-biden-xi-jinping-covid/2021/11/17/id/1045025/

Putin is ready to gamble on war with the West – The Telegraph
The Russian president will do everything in his power to seek revenge for Russia’s humiliation
   Bosnia may be about to collapse into civil war. Belarus is throwing Middle Eastern refugees at the Polish border. Russia is building up forces on Ukraine’s eastern border….
https://www.telegraph.co.uk/news/2021/11/16/putin-ready-gamble-war-west/

Putin invaded Ukraine the last time Team Obama was in control of the US.  They are again in control.

FDA Asks Federal Judge to Grant it Until the Year 2076 to Fully Release Pfizer’s COVID-19 Vaccine Data – The fed gov’t shields Pfizer from liability. Gives it billions of dollars. Makes Americans take its product. But won’t let you see the data supporting its safety/efficacy. Who does the gov’t work for?https://aaronsiri.substack.com/p/fda-asks-federal-judge-to-grant-it?justPublished=true

Pentagon inspector general raises questions about former D.C. Guard commander’s Jan. 6 account
The D.C. National Guard’s commanding general was directed twice by Pentagon leadership to send in troops as violence engulfed the U.S. Capitol on Jan. 6, according to a newly released investigation that appears to undercut the now-retired general’s claim that he would have responded to the riot more quickly if Trump administration officials had allowedThree weeks later, House Speaker Nancy Pelosi (D-Calif.) appointed him House sergeant-at-arms, saying Walker was a “leader of great integrity” and that he would be “an important asset to the House, particularly in light of the January 6 insurrection.”… https://www.washingtonpost.com/national-security/2021/11/17/january-6-william-walker-national-guard/

 

Joe Biden was elected US senator in 1972.  How many staffers, associates, and pals has he employed over the past 49 years?  Yet, Biden’s administration is staffed almost exclusively, especially the top positions, with mostly Obamaites and some Clintonistas.  WHY?  Occam’s Razor: He is not in charge.

GOP defeats Obama-endorsed candidate in deep blue city that Biden won handily in 2020
Endorsements from former President Obama and House Majority Whip Jim Clyburn in reliably blue Columbia, South Carolina, were not enough to push the city’s Democratic mayoral candidate over the finish line.  Republican Daniel Rickenmann, a businessman and Columbia city council member, defeated Democrat Tameika Isaac Devine 52% to 48% on Tuesday night in Columbia, which sits in a county that President Biden carried by almost 40 points in 2020…
https://www.foxnews.com/politics/gop-defeats-obama-endorsed-candidate-deep-blue-city-biden

State Rep. Ryan Guillen switches to GOP in latest blow to South Texas Democrats
“The ideology of defunding the police, of destroying the oil and gas industry and the chaos at our border is disastrous for those of us who live here in South Texas.”… The district (80.2% Hispanic) saw a huge swing in the 2020 presidential election. Donald Trump won it by 13 percentage points, four years after Hillary Clinton carried it by the same margin…
https://www.chron.com/politics/article/ryan-guillen-texas-house-switch-party-16622274.php

Welcome packet shows how nonprofits help administration move Illegals across U.S., lawmaker says  – Hotels, free plane tickets, an airport escort and a plea for TSA to skip normal ID check.
https://justthenews.com/government/security/welcome-packet-shows-how-nonprofits-help-administration-move-illegals-across-us

Ex-federal prosecutor @shipwreckedcrew: WOW — Rittenhouse attorneys have the goods on prosecution having withheld evidence.  Pros. sent a compressed version of the drone video to defense, when they had the full resolution which they held until closing.  3.6 MB v. 11.5 MB.  Huge difference.
    Prevented the defense from making use of the video during the case because evidence was closed prior to the defense being told about 11.5 MB version.  Should be a mistrial and dismissal.  I think they might get it if the jury doesn’t acquit on all charges.  Not sure about bar disciplinary rules in Wisconsin, but it might be time from Binger and Kraus to track down some disciplinary attorneys to represent them.

@JonathanTurley: The defense filed a new motion for dismissal alleging that the prosecution withheld key video evidence. The defense was given a 3.6MB video while the prosecution used a 11.2MB. The larger file was not provided to the defense “until after the trial concluded.”  Given the continual complaints over the “grainy” quality of videos, the withholding of a high def version is astonishing. However, this case has been continual train wreck of evidentiary and tactical failures.

Tucker Carlson says Rittenhouse jurors are stalling on reaching a verdict because they fear the ‘mobs of Joe Biden voters’ will ‘burn, loot and destroy’ – Carlson said it’s an open-and-shut self-defense case and that ‘no honest person could reach a different conclusion.’…Hundreds of BLM supporters have gathered outside the courthouse in Kenosha…
https://www.dailymail.co.uk/news/article-10211699/Carlson-says-Rittenhouse-jurors-stalling-verdict-fear-mobs-Joe-Biden-voters.html

@BuckSexton: A manifestly innocent Rittenhouse still at this moment faces the prospect of life in prison because a jury knows he did nothing wrong but is terrified their lives could be ruined for finding him not guilty.  This is the America that the Left wanted to create, and it’s here.

@JackPosobiec: Judge was hoping for a quick acquittal but the holdouts didn’t want the media backlash Now the holdouts want an acquittal hut the judge doesn’t want the media backlash.  Everyone wants to pass the buck.  And an 18-year-old’s life hangs in the balance
     Judge very upset about media coverage of this case, including personal attacks on himself. Took a lot of time in court today expressing how upset he was about how media is portraying him.  Judge would have thrown this all out yet if not for the media attacking him relentlessly throughout the trial. He’s worried about his legacy. Are you paying attention yet?

Gallup: Stricter Gun Laws Less Popular in U.S.  (Mob rule and unpunished violence will do this.)
The decline in support for stricter gun laws last year was mostly due to a 14-point drop among Republicans, to 22% — the group’s lowest point on record. This year’s decrease is driven by a 15-point plunge among independents. For their part, Democrats’ desire for more restrictive gun laws ticked up to 91%…  https://news.gallup.com/poll/357317/stricter-gun-laws-less-popular.aspx

FBI corruption and politicization is so bad that even a New York Times op-ed columnist is slamming it.

The Federal Bureau of Dirty Tricks
This month’s bombshell indictment of Igor Danchenko, the Russian national who is charged with lying to the F.B.I. and whose work turns out to have been the main source for Christopher Steele’s notorious dossier, is being treated as a major embarrassment for much of the news media — and, if the charges stick, that’s exactly what it is.  Put media criticism aside for a bit. What this indictment further exposes is that James Comey’s F.B.I. became a Bureau of Dirty Tricks, mitigated only by its own incompetence — like a mash-up of Inspector Javert and Inspector Clouseau. Donald Trump’s best move as president (about which I was dead wrong at the time) may have been to fire himit turns out the bureau can be both incompetent and biased…
    Democrats who don’t want the vast power wielded by the bureau ever used against one of their own — as, after all, it was against Hillary Clinton — ought to use the Durham investigation as an opportunity to clean up, or clean out, the F.B.I. once and for all.
https://www.nytimes.com/2021/11/16/opinion/steele-dossier-fbi-trump.html?referringSource=articleShare

NPR slammed for calling Boston’s first female, Asian American mayor ‘a disappointment’
“While many are hailing it as a major turning point, others see it as more of a disappointment that the three Black candidates in the race couldn’t even come close,” the story still reads early Wednesday…
https://trib.al/kzmLRi6

@RNCResearch: Biden shakes hands maskless, but puts one on for a selfie
https://twitter.com/RNCResearch/status/1461118086216626177

Pelosi Reportedly Seen Maskless at Swingers Bar with Rep. Yvette Clarke, Breaking Mask Mandate  https://dailycaller.com/2021/11/17/nancy-pelosi-maskless-washington-dc-bar-swingers-yvette-clarke-breaking-mask-mandate/

end
 
 
 
Let us wrap up the week as always with this offering courtesy of Greg Hunter i
 
 
end
 
Well that is all for today
 
 

I will see you FRIDAY night.

Advertisement

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: