NOV19/MUCH TO THE ANGER FROM THE LEFT, RITTENHOUSE ACQUITTED//GOLD DONW $9.50 TO $1850.20//SILVER DOWN 14 CENTS TO $24.70//GOLD STANDING AT THE COMEX GROWS TO 6.675 TONNES//HUGE ADVANCE IN SILVER STANDING UP TO 7.315 MILLION OZ//COVID COMMENTARIES//VACCINE MANDATE UPDATES: PFIZER AND MODERNA BOOSTERS APPROVED AND REGULAR SHOTS FOR INFANTS 5 TO 11 APPROVED FOR PFIZER//LAW FIRM IN CALGARY REFERS A CRIMINAL COMPLAINT TO RCMP//AUSTRIA GOES FULL GAMBIT AND LOCKDOWN EVERYBODY //WILL MANDATE TO EVERYBODY THE JAB BY FEBRUARY: GERMANY MAY FOLLOW//UK OFFICIAL DATA SHOWS VAXXED SPREAD COVID MORE THAN UNVAXXED AND MORE ILLNESSES//

 

GOLD:$1850.20 DOWN $9.40   The quote is London spot price

Silver:$24.70  DOWN  14  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1845.85
 
silver:  24,62
 
 
 
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

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COMEX DETAILS//NOTICES FILED

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

receiving today  5/10

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,861.000000000 USD
INTENT DATE: 11/18/2021 DELIVERY DATE: 11/22/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
435 H SCOTIA CAPITAL 4
661 C JP MORGAN 10 5
905 C ADM 1
____________________________________________________________________________________________

TOTAL: 10 10
MONTH TO DATE: 1,257

Goldman Sachs stopped:0

 

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 10 NOTICE(S) FOR 1000 OZ  (0.0311 tonnes)  

 

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  1257 FOR 125,700 OZ  (3.909 TONNES) 

 

SILVER//NOV CONTRACT

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

total number of notices filed so far this month 1223  :  for 6,115,000  oz

 

BITCOIN MORNING QUOTE  $57,327  DOLLARS UP 526 DOLLARS 

 

BITCOIN AFTERNOON QUOTE.:$568,007 DOLLARS  UP 1026.DOLLARS 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN $9.40 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A MONSTER CHANGE IN GOLD INVENTORY AT THE GLD:  A DEPOSIT OF 8.13 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  985 ,00 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 14 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 2109 CONTRACTS TO 155,360, AND CLOSER TO THE NEW RECORD OF 244,710, SET FEB 25/2020. DESPITE OUR $0.17 LOSS IN SILVER PRICING AT THE COMEX ON THURSDAY OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN) )(IT FELL BY $0.17 BUT WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A HUGE GAIN OF 2841 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 820,000 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 -508
 
 
 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
NOV
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:
 
13,923 CONTACTS  for 15 days, total 13,923 contracts or 69.615million oz…average per day:  928 contracts or 4.64 million oz per day.

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

NOV:  69.615 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 2109 DESPITE OUR 17 CENT LOSS SILVER PRICING AT THE COMEX// THURSDAY.
 
THE CME NOTIFIED US THAT WE HAD A  STRONG SIZED EFP ISSUANCE OF 732 CONTRACTS( 0 CONTRACTS ISSUED FOR NOV AND 732 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 4.2 MILLION OZ FOLLOWED BY TODAYS QUEUE JUMP OF 820,000 OZ . WE HAD A STRONG SIZED GAIN OF 2841 OI CONTRACTS ON THE TWO EXCHANGES
 
 
 
 
 

WE HAD 1 NOTICES FILED TODAY FOR 5,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 1814  CONTRACTS TO 618,299 ,,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: — 1039  CONTRACTS.

THE SMALL SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $8.40//COMEX GOLD TRADING//THURSDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION  AS THE TOTAL LOSS ON OUR TWO EXCHANGES TOTALED A MINISCULE 136 CONTRACTS…..  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 1.444 TONNES, FOLLOWED BY TODAY’S QUEUE JUMP  OF 900 OZ//NEW STANDING 214,600 OZ (6.675 TONNES) 
 
 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $8.40 WITH RESPECT TO THURSDAY’S TRADING

 

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

WE HAD  A SMALL SIZED GAIN OF 903  OI CONTRACTS (2.808 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCETHE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 1,678CONTRACTS:

FOR DEC 1,678  ALL OTHER MONTHS ZERO//TOTAL: 1678 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 618,299. 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 MINISCULE  SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 136 CONTRACTS: 1814CONTRACTS DECREASED AT THE COMEX AND 1,678 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 136 CONTRACTS OR 0.4230 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1,678) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (1814 OI): TOTAL LOSS IN THE TWO EXCHANGES: 136 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 900 OZ  3)ZERO LONG LIQUIDATION,4) SMALL SIZED COMEX OI LOSS 5). SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL 

SPREADING OPERATIONS(/NOW SWITCHING TO GOLD)

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF 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 : 71,729, CONTRACTS OR 7,172,900 oz OR 223.10 TONNES (15 TRADING DAY(S) AND THUS AVERAGING: 4781 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 15 TRADING DAY(S) IN  TONNES: 223.10 TONNES

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

THUS EFP TRANSFERS REPRESENTS  223.10/3550 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:           223.10 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 HUGE SIZED 2109 CONTRACTS TO 155,360AND  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 732 CONTRACTS

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

DEC 732  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  732 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 2109 CONTRACTS AND ADD TO THE 732 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A  GIGANTIC  SIZED GAIN OF 2841 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 14.205 MILLION  OZ, OCCURRED WITH OUR  $0.17 LOSS IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 
 

3. ASIAN AFFAIRS

i) FRIDAY MORNING/THURSDAY  NIGHT: 

SHANGHAI CLOSED UP 39.66 PTS OR  1.33%     //Hang Sang CLOSED DOWN 269.75 PTS OR 1.07% /The Nikkei closed UP 147.21 PTS OR 0.50%    //Australia’s all ordinaires CLOSED UP 0.22%

/Chinese yuan (ONSHORE) closed DOWN  6.3894   /Oil DOWN TO 78.82 dollars per barrel for WTI and DOWN TO 78.26 for Brent. Stocks in Europe OPENED  ALL RED   /ONSHORE YUAN CLOSED  DOWN AT 6.3894 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3936/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 
 
 
 
 
 
 
 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 1814 CONTRACTS TO 618,299 MOVING FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX DECREASE OCCURRED WITH OUR LOSS OF $8.40 IN GOLD PRICING  THURSDAY’S COMEX TRADING.WE ALSO HAD A SMALL EFP ISSUANCE (1678 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 SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 1678 EFP CONTRACTS WERE ISSUED:  ;: ,  NOV  :  & DEC. 1678 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:   1678 CONTRACTS 

 

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

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY TINY SIZED 136  TOTAL CONTRACTS IN THAT 1678 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED COMEX OI OF 1814 CONTRACTS..WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR NOV   (6.675),

 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 SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $8.40)

BUT THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED A SMALL 0.4230 TONNES,ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR NOV (6.675 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 -1039   CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET LOSS ON THE TWO EXCHANGES :: 136 CONTRACTS OR 13,600 OZ OR  0.4230 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:  618,299 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 61.82 MILLION OZ/32,150 OZ PER TONNE =  19.22TONNES

THE COMEX OPEN INTEREST REPRESENTS 19.22/2200 OR 87,40% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY 267,812 contracts//    / volume//volume fair/

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 244,405 contracts//fair

 

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

 

NOV 19

 

/2021

 
INITIAL STANDINGS FOR NOV COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
192.91
OZ
 
BRINKS
 
6 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
NIL
OZ
 
 
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
96,453.000
 
oz
Brinks
3,000 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
10  notice(s)
100 OZ
0.0311 TONNES
No of oz to be served (notices)
889 contracts 88,900 oz
2.765 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
1257 notices
125700 OZ
 
3.909 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 Brinks/customer:  96,453.000 oz 3,000 kilobars
 
TOTAL CUSTOMER DEPOSITS 96,453.000 oz
 
 
 
We have 1  customer withdrawals
 
i) Out of Brinks: 192.91 oz  (6 kilobars)
 
 
 
 
total customer withdrawal   192.910     oz
     
 
 
 
 
 
 
 
 
 

We had 2  kilobar transactions 2 out of  3 transactions)

ADJUSTMENTS i

Manfra:  dealer to customer

 

6395.39 oz 

 

 
 
For the front month of November we had an open interest of 899 contracts having GAINED 8 contracts on the day.
 
We had  1 notices served on THURSDAY so we GAINED  9 contracts or an additional 900 oz will  stand for delivery for this very non active delivery month
 
 
 
 
 
 
 
 
 
.
DEC LOST 22,167 CONTRACTS  TO STAND AT 233,306
JANUARY GAINED 168 CONTRACTS TO STAND AT 700
 

We had 10 notice(s) filed today for   1000  oz

FOR THE NOV 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 10 notices were issued from their client or customer account. The total of all issuance by all participants equates to 10  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 5 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 (1257) x 100 oz , to which we add the difference between the open interest for the front month of  (NOV: 899 CONTRACTS ) minus the number of notices served upon today  10 x 100 oz per contract equals 213,600 OZ OR 6.675 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 (1257) x 100 oz (899)  OI for the front month minus the number of notices served upon today (10} x 100 oz} which equals 213,500 ostanding OR 6.675 TONNES in this  active delivery month of NOV.

We GAINED 9 contracts or an additional 900 oz will stand for delivery. 

 

TOTAL COMEX GOLD STANDING:  6.675 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 6.675 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  17,597,262.720 oz or 547.34 tonnes
 
 
 
total weight of pledged:1,917,862.791oz                                     59.65 tonnes
 
 
 
 
 
registered gold that can be used to settle upon: 15,679,400.0 (487.69 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes 15,679.400.0 (487.69 tonnes)   
 
 
total eligible gold: 15,751,969.404 oz   (489.95 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  33,349,232.124 oz or 1,037.011
tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  910.67 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 19/2021

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
1,550,491.210  oz
 
 
Brinks
Manfra
 
 
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
595,997.551 oz
 
Manfra
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
1
 
CONTRACT(S)
5,000  OZ)
 
No of oz to be served (notices)
240 contracts
 (1,200,000 oz)
Total monthly oz silver served (contracts)  1223 contracts

 

6,115,000 oz)

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

total dealer deposits:  nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 1 deposits into customer account (ELIGIBLE ACCOUNT)

i) Into Manfra: 595,997.551 oz

 
 

JPMorgan now has 179.612 million oz  silver inventory or 50.81% of all official comex silver. (179.612 million/353.457 million

total customer deposits today 595,997.551 oz

we had 3 withdrawals

i) Out of Brinks: 50,087.53 oz

ii) out of CNT: 897,606.03 oz

iii) Out of Manfra: 606,797.650 oz  

 

 

total withdrawal 1,550,491.210       oz

 

adjustments:   1
 
 
 
dealer to customer 1// Manfra 
i) Manfra  169,946.446 oz
 
 
 
 
 

Total dealer(registered) silver: 98.170 million oz

total registered and eligible silver:  353.457 million oz

a net  0.950 million oz  leaves  the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

For the front month of November we have an  amount of silver standing equal to 241 contracts a GAIN of 120 contracts on the day. We had 44 notices filed on THURSDAY so we gained A HUGE 164 contracts or an additional 820,000 oz will stand in this non active delivery month of November.
 

DEC LOST  6565 CONTRACTS DOWN TO 50,617

JANUARY GAINED 187 CONTRACTS TO STAND AT 1585

 
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  1223 x 5,000 oz =6,115,000 oz to which we add the difference between the open interest for the front month of NOV (241) and the number of notices served upon today 1 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the NOV./2021 contract month: 1223 (notices served so far) x 5000 oz + OI for front month of NOV(241)  – number of notices served upon today (1) x 5000 oz of silver standing for the NOV contract month .equals 7,315,000 oz. .

We gained 164 contracts or an additional 820,000 oz will stand for silver in this non active delivery month of November.

 

TODAY’S ESTIMATED SILVER VOLUME  81,955 CONTRACTS // volume  fair 

 

FOR YESTERDAY 83,463 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% (NOV19/2021)

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 19)/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 19/WITH GOLD DOWN $9.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 8.13 TONNES INTO THE GLD//INVENTORY RESTS AT 985.00 TONNES.

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 19 / GLD INVENTORY 985.00 tonnes

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

NOV 19/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER STANDING AT THE SLV//INVENTORY RESTS AT 548.233 MILLION OZ..

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 19/2021  SLV INVENTORY RESTS TONIGHT AT 548.233 MILLION OZ

 

 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

The Fed’s Artificially Low Interest Rates Are Eating Away At Social Security

 
FRIDAY, NOV 19, 2021 – 11:05 AM

Via SchiffGold.com,

The Federal Reserve has held interest rates artificially low for decades. This causes all kinds of distortions and misallocations in the economy.

And it’s creating quite a problem for the Social Security Administration.

The Social Security Trust Fund, also known as the Old-Age and Survivors Insurance (OASI) Trust Fund, closed fiscal 2021 with a balance of $2.76 trillion. That was down by 2.0% from a year earlier. It was the second annual decline of Trust Fun since 1990. The first occurred in 2018.

The fund balance had strong growth through the 1990s and early 2000s, but began to plateau after the 2008 financial crisis and Great Recession.

So, what is causing this dropoff in funding?

OASI invests exclusively in US Treasury securities. It primarily holds what are known as interest-bearing long-term special-issue Treasury securities. The Trust Fund purchases these instruments at face value, and the US Treasury redeems them at face value. The interest from these investments, along with Social Security taxes, funds OASI.

The trust fund is being hit with a double-whammy.

Payroll taxes are down. According to the 2021 Trustees Report, 55 million people drew Social Security retirement benefits at the end of 2020. That same year, 175 million people paid into Social Security via payroll taxes. That was down by 3 million from 2019. Changing demographics will likely continue to shrink payroll taxes unless Congress raises rates.

But the drop in payroll taxes is just one part of the problem.

The other issue is Fed interest rate suppression. OASI’s investment in Treasury securities isn’t kicking out enough interest to keep up with the fund’s outflows.

According to WolfStreet, the weighted average interest rate earned on the securities in the Trust Fund dropped to 2.40% in September. Before the 2008 Financial Crisis, the Fund was earning over 5%.

In fact, the average interest earned by the trust fund has been dropping since the 1990s. Cooling inflation in the 80s naturally pushed rates lower. But things really got hinky when the Fed started artificially driving down interest rates to “stimulate” the economy. In the midst of a mild recession in the early 90s, Alan Greenspan began cutting interest rates. This ultimately blew up the dot-com bubble. When it burst, the Fed cut rates again. With each subsequent crisis, the central bank pushed rates lower and during each recovery, rates failed returned to the previous level. After pushing rates to zero in the wake of the 2008 financial crisis, “normalization” only managed to raise rates to 2.5% — hardly “normal.”  The central bank began cutting rates in 2019, even before the coronavirus pandemic.

In effect, we have a downward ratchet effect on interest rates, and that is steadily eroding away interest income for OASI.

According to WolfStreet, despite the 13% growth of the Trust Fund assets since 2010, annual interest income has dropped by 35%, from $108.5 billion in 2010 to $70.5 billion in 2021. And the latest round of interest rate suppression is just starting to enter the pipeline.

The Fed’s interest rate repression since March 2020 is just starting to be reflected in the Trust Fund’s average interest rate and will hound it for years to come, even if long-term interest rates rise.”

As interest income continues to decline, at some point Congres will have to raise Social Security taxes, or benefits will get trimmed, or both.

The Social Security fund is in trouble. It was always inevitable that it would be. Ponzi schemes are unsustainable by their very nature. But the Fed’s artificially low interest rates are exacerbating the problem. A normal interest rate environment wouldn’t likely fix Social Security, but it would help stem the bleeding.

end

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

Von Greyerz: Gold-O-Mania Is Coming!

 
FRIDAY, NOV 19, 2021 – 06:30 AM

Authored by Egon von Greyerz via GoldSwitzerland.com,

The buoyancy of markets in recent years has lulled central bank heads into a false conviction that they had saved the world after the 2006-9 Great Financial Crisis.

But central bankers continue to navigate like drunken sailors between the evil forces of Scylla and Charybdis as in Homer’s Odyssey.

Few of the bankers have understood that printing unlimited and worthless paper money will not allow them a pass the strait of Messina without major, or more likely catastrophic, damage to the world economy.

As exuberance continues to dominate intoxicated stock market investors, they haven’t yet noticed that all is not well on the perilous seas.

Still, most markets continue to respond positively to the printing press rather than to the underlying fundamentals.

Printing presses don’t create real value, instead they create bubbles full of worthless air. But sadly intoxicated investors confuse air, which is free and has no value, with real, intrinsic values. 

To take an example, what is the intrinsic value of Bitcoin or BTC? How should BTC be valued?

Does the $60,000 price today reflect the real value or was the 10 cent price 10 years ago more correct?

BITCOIN-O-MANIA

Are we today seeing Bitcoin-O-Mania similar to Tulip-O-Mania in the 1630s?

If not, can someone tell me at what price Bitcoin is fully and properly valued?

The Bitcoin aficionados will tell us that BTC is modern money and superior to any other currency. Well maybe they are right, but history must prove that. The 11 year history of Bitcoin is hardly sufficient to prove that it will fare better than any other money. We must remember that so far in history no currency has ever survived in its original form except for gold.

And the 5,000 year history of gold as money certainly makes it superior to all fiat currencies as well as cryptocurrencies.

During 5 millennia gold has represented constant purchasing power in grammes or ounces. That can hardly be said about Bitcoin which is up over 650,000 times in the last 10 years with a volatility which is totally unsuitable to call it money or use as money.

Having said all the above, BTC has been and might continue to be a superb speculative investment which is totally unsuitable as money. History will tell if I am right.

CENTRAL BANK DIGITAL CURRENCIES – CBDC

Central banks are obviously seeing that this currency is destruction coming since they have caused it. This is why they are desperate to introduce CBDCs in order to yet another time fool the people. They will just tell us that the old debt in old dollars has remarkably  disappeared and now we have new miraculous monetary system.

So the more it changes, the more it stays the same. Another currency system dies and a new digital one will achieve miracles.

What we must understand is of course that making the old debt disappear has consequences. You can’t just let one side of the balance sheet disappear without affecting the other side.

So if debt is written down to zero, so will all the assets that were financed by this debt. And this is why we will see a collapse of all bubble asset markets of up to 90% in real terms. That will include stock, bond and property markets.

CBDCs are of course a wonderful way to control the spending of the people. Governments and central banks can in an instant flood the market with money by issuing their digital currency directly to everyone or also turn off access to your own money.

So CBDCs not only gives the government total control of your money. It also means you could be fined arbitrarily for anything you are alleged to have done and obviously be taxed at will.

This would be as horrible as it sounds and means the ultimate totalitarian state.

But we must remember that if CBDCs were introduced, it would just be another form of fiat money that would not survive. In my view it would fail quickly due to the fact that the old debt and $1.5-2 trillion of derivatives cannot magically disappear without massive consequences.

So whether it will be the old currency system which will collapse or the new one, it is still likely to happen in the next 5-7 years and maybe a lot faster.

GOLD ON ITS WAY TO NEW HIGHS AND BEYOND

Since the time we made substantial investments in the physical gold market in 2002 at $300, I have never worried one day about the value of gold. History told us that gold, with normal fluctuations, would always reflect constant purchasing power.

And since I back then predicted that risk in the financial system would increase dramatically, physical gold was, and still is, the obvious wealth preservation investment.

There was another crystal clear reason to buy gold at that time. After a 24x rise during the last gold mania between 1971 and 1980 (from $35 to $850) gold corrected for 20 years down to $250 in 1999. In 2002 we had technical confirmation that gold had bottomed, so $300 was clearly an attractive level to enter.

The best time to buy an asset is when it is unloved and undervalued which was the case in early 2002.

One of my favourite charts is the annual gold chart below which shows that gold closed up 12 years in a row between 2001 and 2012. Thereafter gold corrected for until 2015 and since 2016 it is up every year except a sideways move in 2018.

Thus, since the gold bull market resumed in 2001, gold will have closed up 19 out of 21 years (2 flat yrs) which is 90% of the time.  This is assuming 2021 will be an up-year which I am convinced it will be.

It is hard to find a clearer or stronger bull market of such an important asset class.

But we know of course that it isn’t gold going up but the value of paper money going down since all currencies have lost 97-99% of their value in relation to real money or gold since 1971. This we must of course thank Nixon for who closed the gold window in 1971.

Another of my very favourite charts is gold in relation to US money supply. The chart below shows that gold is as cheap today as it was in 1970 at $35 or 2000 at $300.

So gold has not yet reflected the massive growth in fiat money that the world has experienced in this century.

Gold in US dollars at currently $1,865 is slightly below the 2011 $1,920 peak. That is primarily due to a temporary and artificially high dollar. But in most currencies gold is substantially higher. See chart below.

More importantly, gold has now started the latest phase of the bull market which began in 1971 and resumed in 2000.

Or more correctly the currencies have now started their final journey to their intrinsic value of zero. With a 97-99% fall in the last 50 years, the final 1-4% is only a matter of time. But as I often point out we must remember that the next move down is 100% from today which means a total annihilation of paper money.

GOLD-O-MANIA

So will we have Gold-O-Mania next?

Yes, very likely in my view.

The central bankers are trying to convince the world and themselves that current inflation is transitory as I outlined in my recent article which instead predicts hyperinflation. 

Well, in the US consumer price inflation just surged to 6.2%, the highest since 1982!

The Fed must be over the moon! They have for years struggled to get the rate to 2% and they have now achieved over 6%. Isn’t it fantastic what you can achieve with unlimited money printing and zero interest rates! At the rate of 6.2% prices will double every 11 years which must really please the Fed.

So they have done everything they can to destroy the economy and the value of money. I don’t know what gives them the right to call it transitory.

Since the FED has never forecast anything before accurately, what tools do they now use to say it is transitory?

Anyone who understands the effect of unlimited credit expansion will know that this is extremely inflationary. So not only is the inflation not transitory but it will run out of control.

Most investors still don’t understand gold. This is why only 0.5% of world financial assets are invested in gold.

The current generation of institutional and private investors has not experienced inflation since the US last saw it over 40 years ago. They all thought that inflation was dead and buried when in fact all the actions of governments and central banks have created the most wonderful climate for inflation not just going up but surging to hyperinflationary levels.

As gold is now breaking out in all currencies, a very strong and sustained move to new highs and beyond will follow.

Also,over the next couple of years we are likely to see a stampede into gold by institutional investors which need to have some inflation protection in their portfolios.But even if they increased their assets in gold from 0.5% to 1.5%, there will not be enough gold in the world to satisfy the extra demand. This type of increase in gold demand can only be satisfied by much higher prices, creating a gold mania.

Today 10 tonnes of gold at $1900 per oz would cost $610 million.  An institution will still spend the same dollar amount when price goes up to say $10,000  But instead of getting 10 tonnes, the institution will get just under 2 tonnes. 

What price will gold reach in fiat money. Impossible to say of course. It all depends on how much money will be printed and what the real value of the dollar or euro will be at the time. If the dollar goes to zero as all other currencies have in history, gold will of course go to infinity, measured in useless fiat money. See my article “Will Gold Reach Unthinkable Heights”.

GOLD IS FOR WEALTH PRESERVATION

Gold must not be held for speculation or instant gratification. Instead, hold physical gold and some silver for wealth preservation purposes.

Physical gold and silver will not just preserve your wealth but substantially enhance it as the world economy enters a very troubled time.

So will we have Goldo-mania?

Yes, very likely.

This means that gold (and silver) could become overvalued and overloved at some point in the next 5-10 years like in all manias. That might be the time to swap some gold and silver to undervalued and unloved assets which could be stocks, or land or solid businesses. Such situations can create fantastic opportunities but first we must go though some cleansing and difficult times.

end

LAWRIE WILLIAMS: China gold demand highest for 3 years

The latest figures for October for gold withdrawals from the Shanghai Gold Exchange (SGE), which we equate to total Chinese gold demand, have come in at 136.62 tonnes. This is lower than for September, but October tends to be an anomalous month as it contains a week-long public holiday period when the SGE remains closed. In point of fact the latest October figure is the highest for that month since 2018 when October SGE gold withdrawals for that month totalled 142.94 tonnes and the full year figure was 2,054.54 tonnes. While we don’t see China’s full year 2021 SGE gold withdrawals coming in as high as this we do think there’s a strong chance of the full year total at least being the highest level for 3 years at over 1,650 tonnes which demonstrates how strong the recovery from the Covid outbreak has been in that country.

Source: Shanghai Gold Exchange, Sharps Pixley.

*Months incorporating Golden Week holidays when SGE closed for a week

** Cumulative totals as reported month by month by SGE for first ten months of the year.

Interestingly the cumulative gold withdrawals figure to date for the first 10 months of the current year is in excess of the full year 2020 withdrawals total and closing in on that for the pre-Covid 2019 full year amount. With Chinese demand tending to strengthen over the final two months of the year in the runup to increased demand ahead of the Lunar New Year, we do expect full year demand to carry on increasing to at least match. or probably exceed, the 2019 level. Next year’s Lunar New Year, a tiger year, falls on February 1st

Indian gold demand is still also apparently running strong, thus gold demand from the world’s two leading consuming nations looks like it should be well in excess of that for 2020. This should go a long way towards compensating from a probable fall-off in gold ETF accruals this year and perhaps an annual downturn in central bank gold buying too. With the gold price having picked up strongly last week in response to above expectation inflation data, there remains the prospect of further gold and silver consolidation around the $1,860s and $25s respectively prior to a possible further upwards price movement for both precious metals before the year end.

19 Nov 2021

ii) Important gold commentaries courtesy of GATA/Chris Powell

Get a load of this:  traders are fleeing JPMorgan like rats on a sinking ship

(Pam and Russ Martens)

Pam and Russ Martens: Traders flee JPMorganChase and Bloomberg can’t figure out why

 

 

 Section: Daily Dispatches

 

By Pam and Russ Martens
Wall Street on Parade
Thursday, November 18, 2021

Last Thursday, Hannah Levitt of Bloomberg News published a report about a large trader exodus at JPMorgan Chase. She wrote:

“… By this fall, many of the team’s heaviest hitters had gone.

“The setting wasn’t some struggling investment bank. It was the equity derivatives desk inside the mighty JPMorgan Chase & Co. — one of many pockets of employee turnover that have erupted there in recent months, keeping the company’s recruiters busy.”

That article was published at 8 a.m. By 11 a.m. Bloomberg News was finessing that negative article with another article by Brian Chappatta, which appeared to be an attempt to boost both the bank’s reputation as well as that of its chairman and CEO, Jamie Dimon. Chappatta wrote:

“Even with competitive pay and the bank’s prestige, departure rates in many of its businesses are reportedly up at least a few percentage points from pre-pandemic levels. It stands to reason that much of corporate America is dealing with similar issues. After all, if CEO Jamie Dimon isn’t impervious to labor market forces, no one is.”

If JPMorgan Chase has any “prestige” left, it’s in no small part because Bloomberg News has failed to adequately report on the seven-year crime spree at the bank that has garnered it five criminal felony counts to which it admitted and a rap sheet that is likely the envy of the Gambino crime family. Dimon was at the helm of the bank throughout these serial crimes. …

… For the remainder of the report:

https://wallstreetonparade.com/2021/11/traders-are-running-for-the-exits-at-jpmorgan-chase-bloomberg-news-cant-figure-out-why/

Traders Are Running for the Exits at JPMorgan Chase. Bloomberg News Can’t Figure Out Why

By Pam Martens and Russ Martens: November 18, 2021 ~

Billionaire Owner of Bloomberg News, Michael Bloomberg

 

Billionaire Owner of Bloomberg News, Michael Bloomberg

Last Thursday, Hannah Levitt of Bloomberg News published a report about a large trader exodus at JPMorgan Chase. She wrote:

“…By this fall, many of the team’s heaviest hitters had gone.

“The setting wasn’t some struggling investment bank. It was the equity derivatives desk inside the mighty JPMorgan Chase & Co. – one of many pockets of employee turnover that have erupted there in recent months, keeping the company’s recruiters busy.”

That article was published at 8:00 a.m. By 11:00 a.m., Bloomberg News was finessing that negative article with another article by Brian Chappatta, which appeared to be an attempt to boost both the bank’s reputation as well as that of its Chairman and CEO, Jamie Dimon. Chappatta wrote:

“Even with competitive pay and the bank’s prestige, departure rates in many of its businesses are reportedly up at least a few percentage points from pre-pandemic levels. It stands to reason that much of corporate America is dealing with similar issues. After all, if CEO Jamie Dimon isn’t impervious to labor market forces, no one is.”

If JPMorgan Chase has any “prestige” left, it’s in no small part because Bloomberg News has failed to adequately report on the seven-year crime spree at the bank which has garnered it five criminal felony counts, to which it admitted, and a rap sheet that is likely the envy of the Gambino crime family. Dimon was at the helm of the bank throughout these serial crimes.

For how Bloomberg’s publishing properties have ridiculously lavished praise on Dimon as the rap sheet grew, see our reporting here. Michael Bloomberg, majority owner of the publishing and data terminal empire, even co-authored an opinion piece with Dimon for the opinion section of Bloomberg News in 2016. The same year, the New York Post reported that JPMorgan Chase was the second largest customer of Bloomberg’s data terminal business with 10,000 leases, which at the time cost around $21,000 each per year or approximately $210 million being forked over by JPMorgan Chase to Michael Bloomberg’s company.

During JPMorgan Chase’s London Whale scandal, where the bank gambled with bank depositors’ money in derivatives in London and lost at least $6.2 billion, Michael Bloomberg was Mayor of New York City. Instead of condemning this outrageous risk-taking with federally-insured deposits, Bloomberg was quoted in the Wall Street Journal calling Dimon “a very smart, honest, great executive,” adding “The controls failed. He’ll look at that and fix it.” That statement appeared in May of 2012. The five felony counts followed from 2014 to 2020.

Traders throughout JPMorgan Chase have had queasy stomachs since 2019. On September 16, 2019, for the first time that anyone on Wall Street can remember, RICO charges were brought against traders at JPMorgan Chase by the U.S. Department of Justice. Its precious metals trading desk was characterized at the time as a racketeering enterprise. The Justice Department couldn’t bring itself to state the name of the bank where the traders were located, calling JPMorgan Chase simply “Bank A.”

Last year, on September 29, the Justice Department brought the fourth and fifth felony counts against JPMorgan Chase. One count involved traders rigging the precious metals markets and the other count for rigging the U.S. Treasury market.  As the Justice Department had done in all the previous felony charges against the bank, it settled them with large fines, deferred prosecution agreements, and a probation period. (The bank has had three probation periods since 2014 for criminal activity.) But the Justice Department did one thing on September 29 that was unprecedented for a felony charge involving the rigging of the U.S. Treasury market. The Justice Department announced the charges without holding its usual press conference and taking questions from reporters.

The Justice Department’s deal was so sweet for a criminal recidivist that it wrote in its deal with the bank that “an independent compliance monitor was unnecessary” despite also revealing that the bank “did not voluntarily and timely disclose to the Fraud Section and the Office the conduct described in the Statement of Facts.”

Traders that are not burying their heads in the sand like Bloomberg News now understand that you may be sitting on a trading desk at a five-count felony bank one day and perp-walked the next day. In addition to felony counts for rigging trading in precious metals and U.S. Treasuries in 2020, the bank received one felony count in 2015 for rigging foreign exchange trading. In July 2013, a unit of JPMorgan Chase agreed to pay $410 million to the Federal Energy Regulatory Commission to settle claims of rigging California and Midwest electricity markets. In December of 2013, JPMorgan Chase agreed to pay 79.9 million Euros to settle claims brought by the European Commission relating to illegal rigging of benchmark interest rates.

There is also growing buzz among JPMorgan Chase traders that trying to do the right thing has no upside and a lot of downside in terms of one’s career.

In April of this year, Donald Turnbull, a former Global Head of Precious Metals Trading at JPMorgan Chase, filed a federal lawsuit against the bank. Turnbull worked on the same precious metals desk that was deemed to be a racketeering enterprise by the U.S. Department of Justice when it handed down indictments in 2019.

Turnbull’s lawsuit, filed in the federal district court for the Southern District of New York, alleges that the bank trumped up false charges against Turnbull as a pretext to terminate him when it was actually terminating him for cooperating with the Department of Justice’s investigation.

Turnbull was not one of the traders that was indicted by the Department of Justice. Nonetheless, Turnbull charges in the lawsuit that the indicted traders received better benefits when they were released from employment than he did. Despite a seriously-ill wife, Turnbull states in the lawsuit that JPMorgan Chase cancelled his health insurance, did not pay him severance, and took away his unvested stock awards.

The lawsuit offers multiple examples of how indicted traders were treated in a far more favorable manner than was Turnbull. One example, of many cited in the lawsuit, reads as follows:

“Trader C was employed by JPMorgan between 2008 and 2019. JPMorgan recognized that Trader C’s trading practices ‘could be perceived as spoofing’ when it began an internal investigation of his conduct in 2016. JPMorgan—having concluded that his conduct did not meet company standards—issued a verbal warning. But Trader C’s conduct so obviously violated JPMorgan’s ‘could be perceived as spoofing’ ‘standard’ that the Bank used examples of his order sequences in employee training materials as illustrations of how not to trade— because the conduct looked like spoofing. Nevertheless, JPMorgan retained him in its employ until he resigned three years later to plead guilty to eight years of spoofing, and a related CFTC enforcement action acknowledged that he placed ‘thousands’ of spoof orders.”

The lawsuit offers the court this analysis of why Turnbull had to be “neutralized”:

“Mr. Turnbull’s account lent credibility to the notion that the Bank itself was the most culpable entity in the alleged conspiracy; the risk he posed had to be neutralized…JPMorgan sought to reframe the narrative as though the defendants operated in their allegedly manipulative manner without JPMorgan’s knowledge.”

This is not the first time that a trader has alleged that higher ups were culpable in corrupt trading practices but threw the individual trader under the bus. In 2016, the Wall Street Journal published an article indicating that Bruno Iksil, the man dubbed the London Whale in the JPMorgan Chase derivatives trading scandal, had stated that the bank made him a “scapegoat.” Iksil stated to the paper that the trades were “initiated, approved, mandated and monitored” by senior management.

In addition to the risk that traders at JPMorgan Chase may end up facing RICO charges, a statute typically reserved for organized crime, there are also bad feelings among traders about how the bank has handled the COVID-19 crisis.

The bank ordered all senior traders back to their desks by September 21, 2020. That announcement came despite an outbreak of COVID-19 on a JPMorgan Chase trading floor in April of 2020, when a reported 16 people became infected.

END

Dubai is going to be a major player at the physical gold exchange LME.  Now the LBMA are using false gold trading allegations against them.  The LBMA are nothing but crooks

(Bloomberg)

Dubai says gold-trading allegations are ‘lies’ and ‘attacks’

 

 

 Section: Daily Dispatches

 

By Verity Ratcliffe 
Bloomberg News
Thursday, November 18, 2021

Dubai’s commodities exchange rejected claims it doesn’t do enough to regulate its gold business, while the United Arab Emirates government announced new guidelines for trading the metal.

“I want to address the elephant in the room, namely the consistent and unsubstantiated attacks launched on Dubai by other trading centers and institutions,” the chief executive officer of the Dubai Multi Commodities Centre, Ahmed bin Sulayem, said today at a conference in the emirate.

He said they are “lies.”

Bin Sulayem’s comments come as concerns mount about Dubai’s role in the illicit gold business. Critics say regulatory loopholes allow bullion used for money laundering and smuggled out of war zones to be traded there. …

https://www.bloomberg.com/news/articles/2021-11-18/dubai-says-gold-trading-allegations-are-lies-and-attacks

end

More on the settlements against the banks

((Law 360)

Third London gold market rigging settlement brings total payments to $152 million

 

 

 Section: Daily Dispatches

 

By Dave Simpson, Rachel O’Brien, Dean Seal, Eric Kroh, and Jon Hill
Law360, New York
Saturday, November 13, 2021
 ·
LONDON — Barclays Bank PLC, Scotiabank, Societe Generale, and the London Gold Market Fixing Ltd. agreed to pay $50 million to end claims that they illegally fixed prices on the gold market, the putative class of gold traders told a New York federal court Friday.

The deal, if approved, would be the third and final settlement in the putative class action and would bring the total take for the plaintiffs to $152 million, according to the gold traders’ motion for preliminary approval

The motion also seeks certification of a class of “many thousands” who traded gold or financial instruments with gold as their underlying asset between January 2004 through June 2013.

“Studies have found that the median full-case antitrust recovery is 19% of single damages,” the plaintiffs said. “Thus, co-lead counsel would have to establish at trial a recoverable single damages figure of $800 million before the combined recovery from the three proposed settlements fall behind the pace of a median antitrust recovery rate. 

“Considering the risks and costs of continued litigation, both the combined result of all three settlements and this third settlement agreement even when viewed in isolation provide excellent results for the settlement class.”

The March 2014 putative antitrust class action represents 18 consolidated suits claiming that several banks were involved in a wide-ranging conspiracy to fix prices on the gold market.

London Gold Market Fixing members held secret meetings to share information on the real-time price of gold to set a rate beneficial to them, including Barclays, HSBC, and Deutsche Bank, according to the suit.

The deal is the third such settlement in the class action following one in December 2016 with Deutsche Bank AG for $60 million and another in December 2020 with HSBC Bank for $42 million. UBS AG was dismissed from the suit in 2018.

HSBC provided transaction data and discovery to help the plaintiffs continue pursuing the banks remaining in the suit — the ones that announced the settlement on Friday — according to the agreement.

HSBC, among other banks, tried unsuccessfully to get the claims tossed, arguing in 2017 that the data analysis used by a group of investors and traders doesn’t support claims of collusive trading once the flaws are corrected.

Barclays and Societe Generale got a partial win in 2019 when U.S. District Judge Valerie E. Caproni allowed them to redact some customer data from discovery but rejected similar requests from HSBC and ScotiaBank.

The gold traders are represented by Merrill G. Davidoff, Martin I. Twersky, Michael C. Dell’Angelo, and Zachary D. Caplan of Berger & Montague PC, and Daniel L. Brockett, Sami H. Rashid, Alexee Deep Conroy, and Christopher M. Seck of Quinn Emanuel Urquhart & Sullivan LLP.

Barclays is represented by Todd Fishman of Allen & Overy LLP.

SocGen is represented by Marc Gottridge of Herbert Smith Freehills New York LLP.

London Gold is represented by James Vincent Masella III of Patterson Belknap Webb & Tyler LLP.

ScotiaBank is represented by Stephen Ehrenberg of Sullivan & Cromwell LLP.

The case is In re: Commodity Exchange Inc., Gold Futures and Options Trading Litigation, case number 1:14-md-02548, in the U.S. District Court for the Southern District of New York.

end

Your reading material for the weekend

Alasdair Macleod//the returning to sound money

Alasdair Macleod: Returning to sound money

 

 

 Section: Daily Dispatches

 

By Alasdair Macleod
GoldMoney, Toronto
Thursday, November 18, 2021

With the threat of dollar hyperinflation now becoming a reality, it is time to consider what will be required to stabilise the currency, and by extension the other fiat currencies which regard the dollar as their reserve.

This article takes its cue from Ludwig von Mises’ 1952 analysis of what was required to return to a proper and enduring gold standard — metallic money, particularly gold, having been sound money for thousands of years, to which everyone has always returned when government fiat currency fail

When Mises wrote his 1952 article the dollar was nowhere near the state it is in today. But Mises had had practical experience of what was involved, having advised the Austrian government during and after its hyperinflation of the early 1920s, making his analysis doubly relevant.

As a remedy for the developing collapse of the dollar, this article can do little more than address the major issues. But it shows how an economic and monetary collapse of the dollar can be turned to advantage — the opportunity it creates through the destruction of Keynesian and other inflationist fallacies to secure long-term economic and monetary stability under which economic progress can be maximized. …

… For the remainder of the report:

https://www.goldmoney.com/research/goldmoney-insights/returning-to-sound-money?gmrefcode=gata

end

OTHER IMPORTANT GOLD///ECONOMIC COMMENTARIES

 

***

OTHER COMMODITIES/URANIUM

 
 

END

 

 
CRYPTOCURRENCIES/

END

Your early FRIDAY 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 6.3894  

 

//OFFSHORE YUAN 6.3936  /shanghai bourse CLOSED UP 39.66 PTS OR  1.13% 

 

HANG SANG CLOSED DOWN 269.75 PTS OR 1.07% 

 

2. Nikkei closed UP 147.21 PTS OR 0.50% 

 

3. Europe stocks  ALL RED

 

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

3b Japan 10 YR bond yield: FALLS TO. +.079/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 113.61/ 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:: 78.82 and Brent: 78.26

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 -.0.337%/Italian 10 Yr bond yield FALLS to 0.88% /SPAIN 10 YR BOND YIELD FALLS TO 0.39%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.22: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.16

3k Gold at $1861.25 silver at: 24.72   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 51/100 in roubles/dollar) 73.61

3m oil into the 78 dollar handle for WTI and  78 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 113.61 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 1.0450 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 0.337%

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 1.522% early this morning. Thirty year rate at 1.924%

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

6.  TURKISH LIRA:  UP  TO 11.08..  EXTREMELY DEADLY

Futures Tumble, Oil And Treasury Yields Plunge As Lockdowns Return

 
FRIDAY, NOV 19, 2021 – 08:11 AM

Having briefly touched new all time highs of 4,723.5 overnight, S&P futures tumbled shortly after Europe opened as a fourth wave of the pandemic in Europe resulted in a new lockdown in Austria and the prospect of similar action in Germany wiped out earlier gains and forced stock markets down close to 1% as it overshadowed optimism about corporate earnings and the economic recovery. Friday is also a major options-expiry day, which could trigger volatility in equities. Two progressive Democratic senators said they oppose the renomination of Federal Reserve Chair Jerome Powell to a second term, because he “refuses to recognize climate change” joining Elizabeth Warren in urging President Joe Biden to choose someone else.

S&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over rising inflation and the Federal Reserve’s tightening also kept demand for value stocks low. At 745am Dow e-minis were down 218 points, or 0.609%. S&P 500 e-minis were down 12.25 points, or 0.26% and Nasdaq 100 e-minis were up 68 points, or 0.41%.

With the lockdown trade storming back, Nasdaq futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden’s $1.75 trillion spending bill, while fears of Europe-wide lockdowns sent yields plunging. The U.S. House of Representatives early on Friday delayed an anticipated vote on passage of Biden’s social programs and climate change investment bill, and will instead reconvene at 8 a.m. EST (1300 GMT) to complete the legislation

“Everyone is holding his and her breath to find out who will be the next Fed Chair,” said Ipek Ozkardeskaya, senior analyst at Swissquote. “More or less dovish, will it really matter? The one that will take or keep the helm of the Fed will need to hike rates at some point.”

Among major premarket movers, Intuit Inc jumped 10.3% as brokerages raised their price targets on the income tax software company after it beat quarterly estimates and raised forecast. The stock was the top S&P 500 gainer in premarket trade. Chipmaker Nvidia also boosted Nasdaq futures, rising 1.7% in heavy trade after posting strong quarterly results late Wednesday.

On the other end, Applied Materials dropped 5.7% after the chipmaker forecast first-quarter sales and profit below market estimates on supply chain woes. Oil firms Exxon and Chevron slipped 2.1% and 1.8% as crude prices sank, while big banks including JPMorgan and Bank of America were down between 0.9% and 1.1%, tracking a fall in U.S. Treasury yields. Carriers Delta Air Lines, United Airlines and American Airlines and cruiseliners Norwegian Cruise Line and Carnival Corp fell between 1.4% and 2.3%. Here are all the other notable movers:

  • Farfetch (FTCH US) shares drop 23% after the online apparel retailer reported 3Q revenue that missed estimates and trimmed its FY forecast for digital platform gross merchandise value growth. Analysts see scope for the shares to stay in the “penalty box” in the near term, but recommend buying on weakness.
  • Workday (WDAY US) analysts say that the software firm’s strong quarterly results and guidance were not quite enough to meet high expectations. The stock dropped as much as 11% in extended trading on Thursday.
  • Intuit (INTU US) climbed 9.7% in premarket as analysts said the tax software company posted strong results that were ahead of expectations and raised its outlook. Several increased their price targets for the stock, including a new Street high at Barclays.
  • Palo Alto Networks (PANW US) shares rise 2.8% in U.S. premarket trading after the cyber- security firm reports results and hikes full-year sales guidance, with RBC saying co. saw a strong quarter.
  • Tesla (TSLA US) shares dip 0.5% in premarket trading. The EV maker’s price target is raised to a joint Street-high at Wedbush, with the broker saying that the EV “revolution” presents a $5t market opportunity over the next decade.
  • Datadog (DDOG US) rises 1.8% after it is upgraded to outperform from sector perform at RBC, with the broker saying that it has more conviction on the software firm following its TMIT conference.
  • Mammoth Energy (TUSK US) jumps as much as 34% in U.S. premarket trading after the energy-services company said a subsidiary has been awarded a contract by a major utility to help build electric-vehicle charging station infrastructure.
  • Ross Stores (ROST US) shares dropped 2.2% in postmarket trading on Thursday after its profit outlook for fourth quarter missed the average analyst estimate.

In Europe, banks and carmakers led the Stoxx Europe 600 Index down 0.3%, reversing early gains. Fears of fresh lockdowns have hit travel stocks, but boosted the delivery sector and other pandemic winners, with German meal-kit company HelloFresh jumping as much as 7.1% to a record. Stoxx Europe 600 index tumbled after Germany’s health minister said he couldn’t rule out a lockdown as infections surge relentlessly in the region’s largest economy. That came after Austria said it would enter a nationwide lockdown from Monday. Here are some of the biggest European movers today:

  • Ocado shares jump as much as 8.4%, the most intraday since November 2020, after a Deutsche Bank note on joint venture partner Marks & Spencer highlighted scope for a potential transaction.
  • VGP shares gain as much as 7.7% to a record after KBC raised its rating to accumulate from hold, based on a “strong” 10-month trading update.
  • HelloFresh shares surge as much as 7.1% and other lockdown beneficiaries including Delivery Hero, Logitech and Zalando gain after the German health minister says a lockdown can’t be ruled out. Mall landlords Unibail and Klepierre and duty-free retailer Dufry drop.
  • Truecaller shares rise as much as 14% after it received its first analyst initiations after last month’s IPO. Analysts highlighted the company’s potential for continued strong growth. JPMorgan called current growth momentum “unparalleled.”
  • Hermes shares jump as much as 5.2% to a fresh record, rising for a seventh day, amid optimism that the stock may be added to the Euro Stoxx 50 Index as soon as next month. Shares also rise after bullish current- trading comments of peer Prada.
  • Kingfisher shares drop as much as 5.8%, even after the home-improvement retailer said it expects profit to be toward the higher end of its forecast. Investor focus has probably shifted to 2022, and Friday’s update doesn’t have any guidance for next year, according to Berenberg.
  • GB Group shares tumble as much as 18%, the most since October 2016, after the identity-verification software company raised about GBP300m in a placing of new shares at a discount.
  • Mode Global shares sink as much as 19%, reversing most of this week’s gains, after it said some brands had withdrawn the company as an affiliate.

In Fx, the Bloomberg Dollar Spot Index jumped at the London open and the greenback was higher versus all of its Group-of-10 fears apart from yen. Norway’s krone was the biggest loser as energy prices prices dropped after Austria announced a nationwide lockdown starting on Monday, while Germany’s health minister refused to rule out closures in the country.  The pound fell on the back of a stronger dollar; data showed U.K. retail sales rose for the first time in six months as consumers snapped up toys, sports equipment and clothing, while the cost of servicing U.K. government debt more than tripled in October from a year earlier due to surging inflation

The euro plunged by 1% to a new YTD low of $1.1255 as the repricing in the front-end of euro options suggests the common currency is settling within a new range. The euro is also falling at the end of the week following the announcement that Austria will begin a 20-day full Covid-19 lockdown from Monday in response to surging case numbers which have far surpassed last year’s peak. While fatalities remains well below the peak, they are accelerating and the government is clearly keen to arrest it before the situation potentially becomes much worse. With Germany seeing a similar trend, the question now becomes whether the regions largest economy will follow the same path. Its Health Minister, Jens Spahn, today suggested nothing can be ruled out and that they are in a national emergency.

In rates, Treasury yields fell by around 4bps across the board and the bunds yield curve bull flattened, with money markets pushing back bets on a 10bps ECB rate hike further into 2023. Treasury 10-year yields richer by 4.5bp on the day at around 1.54% and toward lows of the weekly range — bunds, gilts outperform Treasuries by 1bp and 1.5bp in the sector as traders reassess impact of future ECB rate hikes. Treasuries rally across the curve, following wider gains across EGB’s and gilts as investors weigh the impact of further European lockdowns amid a fourth wave of Covid-19. Flight-to-quality pushes Treasury yields lower by up to 5bp across front- and belly of the curve, which slightly outperform.  Bunds and Treasury swap spreads widen, while gilts move tighter as risk assets mostly trade to the downside and demand for havens increases on news regarding coronavirus restrictions. German 10-year swap spreads climbed above 50bps for the first time since March 2020.

In commodities, spot gold is little changed around $1,860/oz, while base metals are in the green, with LME copper and aluminum leading peers. Oil tumbled with WTI and Brent contracts down well over 2%. 

Brent crudes brief dip below $80 was short-lived on Thursday and prices were continuing to recover on the final trading day of the week until Austria announced its lockdown. Brent crude quickly reversed course and trades almost 2% lower on the day as it takes another run at $80.
Oil has been declining over the last week as demand forecasts have been pared back, OPEC and the IEA have warned of oversupply in the coming months and the US has attempted to coordinate an SPR release with China and others.

The market still remains fundamentally in a good position but lockdowns are now an obvious risk to this if other countries follow Austria’s lead. A move below $80 could deepen the correction, perhaps pulling the price back towards the mid-$70 region. This looks more likely now than it did a day ago and if Germany announces similar measures, it could be the catalyst for such a move. Perhaps OPEC+ knows what it’s talking about after all.

Looking at To the day ahead now, there is no macro news; central bank speakers include ECB President Lagarde, Bundesbank President Weidmann, Fed Vice Chair Clarida, the Fed’s Waller and BoE Chief Economist Pill. Separately, data highlights include UK retail sales and German PPI for October.

Market Snapshot

  • S&P 500 futures down 0.09% to 4,696.25
  • STOXX Europe 600 up 0.2% to 488.66
  • MXAP little changed at 199.11
  • MXAPJ down 0.2% to 648.18
  • Nikkei up 0.5% to 29,745.87
  • Topix up 0.4% to 2,044.53
  • Hang Seng Index down 1.1% to 25,049.97
  • Shanghai Composite up 1.1% to 3,560.37
  • Sensex down 0.6% to 59,636.01
  • Australia S&P/ASX 200 up 0.2% to 7,396.55
  • Kospi up 0.8% to 2,971.02
  • Brent Futures little changed at $81.17/bbl
  • Gold spot up 0.1% to $1,860.34
  • U.S. Dollar Index up 0.43% to 95.96
  • German 10Y yield little changed at -0.32%
  • Euro down 0.6% to $1.1304

Top Overnight News from Bloomberg

  • Germany’s Covid crisis is about to go from bad to worse, setting the stage for a grim Christmas in Europe. With infections surging relentlessly and authorities slow to act amid a change in power, experts warn that serious cases and deaths will keep climbing
  • Austria will enter a nationwide lockdown from Monday as a record spike in coronavirus cases threatens to overwhelm the country’s health care system
  • The pundits are coming for the Fed and Chair Jerome Powell. Mohamed El-Erian, chief economic adviser to Allianz SE and a Bloomberg Opinion columnist, recently said the central bank has made one of the worst inflation calls in its history. Writing in the Financial Times, the economist Willem Buiter called on the Fed to abandon the more flexible inflation target it established last year
  • Bitcoin continued its slide Thursday, falling for a fifth consecutive day as it slipped below $57,000 for the first time since October, in a retreat from record highs. The world’s largest cryptocurrency hasn’t slumped that long since the five days that ended May 16
  • House Democrats pushed expected passage of President Joe Biden’s $1.64 trillion economic agenda to Friday as Republican leader Kevin McCarthy delayed a vote with a lengthy floor speech that lasted into the early morning hours
  • ECB President Christine Lagarde said policy makers “must not rush into a premature tightening when faced with passing or supply- driven inflation shocks”
  • Markets are increasingly nervous about the common currency with the pandemic resurgent, geopolitical tensions rising and gas supply issues mounting

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks traded mostly positive after the mixed performance stateside where the S&P 500 and Nasdaq notched fresh record closes, but cyclicals lagged as comments from Senator Manchin cast some uncertainty on the Build Back Better bill. The ASX 200 (+0.2%) was rangebound with upside in healthcare and consumer stocks offset by weakness in tech and a lacklustre mining sector. Crown Resorts (CWN AT) was the stellar performer after it received an unsolicited, non-binding takeover proposal from Blackstone (BX) valued at AUD 12.50/shr which boosted its shares by around 16%, although gains in the broader market were limited as COVID-19 concerns lingered following a further jump of cases in Victoria state. The Nikkei 225 (+0.5%) benefitted from a mostly weaker currency and after PM Kishida confirmed the details of the incoming stimulus package valued at a total JPY 79tln including JPY 56tln in fiscal spending. The KOSPI (+0.8%) was also positive but with gains initially capped as South Korean wholesale inflation surged to a 13-year high and further added to the case for the BoK to hike rates for the second time this year at next week’s meeting. The Hang Seng (-1.1%) and Shanghai Comp. (+1.1%) were mixed with the mainland kept afloat amid press reports that China is considering measures to reduce taxes and fees by up to CNY 500bln, although the mainland was initially slow to start after another liquidity drain by the PBoC and with stocks in Hong Kong spooked amid substantial losses in Alibaba following a miss on its earnings and Country Garden Services suffered on reopening from the announcement of a 150mln-share placement. Finally, 10yr JGBs were rangebound with mild gains seen after the modest bull flattening stateside, but with upside restricted amid the gains in Japanese stocks and lack of BoJ purchases, as well as the incoming fiscal spending and extra budget from the Kishida government.

Top Asian News

  • Bitcoin Falls Almost 20% Since Record as Crypto Bulls Retreat
  • Singapore’s Insignia Ventures Intensifies Push Into Healthtech
  • Binance Chief Zhao Buys His First Home in ‘Pro-Crypto’ Dubai
  • Property Stocks Surge; Land Sale Rules Eased: Evergrande Update

The earlier positive sentiment in Europe dissipated amid a string of back-to-back downbeat COVID updates – with Austria now resorting to a full-scale lockdown and Germany sounding alarms over their domestic COVID situation and not ruling out its own lockdown. European bourses flipped from the mostly positive trade at the open to a negative picture (Euro Stoxx 50 -0.5%; Stoxx 600 Unch), with headlines also flagging the European stock market volatility gauge jumping to three-week highs. It is also worth noting the monthly option expiries for stocks today, with desks pointing to the second-largest expiry day on record. US equity futures have also seen headwinds from the pullback in Europe, but US futures are mixed with the NQ (+0.4%) benefitting from the slide in yields. Back to Europe, Austria’s ATX (-1.0%) sit as the laggard after the Austrian Chancellor said a full domestic COVID lockdown will be imposed as of Monday for a maximum of 20 days with compulsory vaccination from 1st February 2022. Switzerland’s SMI (+0.2%) owes its gains to the defensive flows into healthcare propping up heavyweights Novartis (+0.5%) and Roche (+0.7%). Sectors overall are mostly negative with Healthcare the current winner, whilst Tech benefits from the yield slump and Basic Resources recover from yesterday’s slide as base metals rebound. The downside sees Banks on yield dynamics, whilst Oil & Gas lost the ranks as crude prices were spooked by the COVID headlines emanating from Europe. In terms of individual movers, Ocado (+6%) resides at the top of the FTSE 100 – with some citing a Deutsche Bank note which suggested shareholder Marks & Spencer could be mulling a buyout, although the note is seemingly speculation as opposed to chatter.

Top European News

  • Ryanair Drops London Listing Over Brexit Compliance Hassles
  • ECB Mustn’t Tighten Despite ‘Painful’ Inflation, Lagarde Says
  • Austria to Lock Down, Impose Compulsory Covid Vaccinations
  • German Covid Measures May Bolster ECB Stimulus Stance: El-Erian

In FX, it remains to be seen whether the Dollar can continue to climb having descended from the summit, and with no obvious fundamental drivers on the agenda in terms of US data that has been instrumental, if not quite wholly responsible for the recent bull run. However, external and technical factors may provide the Greenback and index with enough momentum to rebound further, as the COVID-19 situation continues to deteriorate in certain parts of Europe especially. Meanwhile, the mere fact that the DXY bounced off a shallower low and appears to have formed a base above 95.500 is encouraging from a chart perspective, and only the Yen as a safer haven is arguably capping the index ahead of the aforementioned w-t-d peak within 95.554-96.090 extremes. Ahead, more Fed rhetoric and this time via Waller and Clarida.

  • EUR – The Euro has been hit hardest by the Greenback revival, but also the latest pandemic waves that have forced Austria into total lockdown and are threatening to see Germany follow suit. Moreover, EGBs are front-running the latest squeeze amidst risk-off trade in stocks, oil and other commodities to widen spreads vs Treasuries and the divergence between the ECB/Fed and other more hawkishly or less dovishly positioned. Hence, Eur/Usd has reversed further from circa 1.1374 through 1.1350 and 1.1300, while Eur/Yen is eyeing 128.50 vs almost 130.00 at one stage and Eur/Chf is probing fresh multi-year lows around 1.0450.
  • NZD/GBP/AUD/CAD – All catching contagion due to their high beta, cyclical or activity currency stature, with the Kiwi back under 0.7000, Pound hovering fractionally above 1.3400, Aussie beneath 0.7250 and Loonie striving to contain declines beyond 1.2650 pre-Canadian retail sales against the backdrop of collapsing crude prices.
  • JPY/CHF – As noted above, the Yen is offering a bit more protection than its US counterpart and clearly benefiting from the weakness in global bond yields until JGBs catch up, with Usd/Jpy down from 114.50+ towards 113.80, but the Franc is showing its allure as a port in the storm via the Euro cross rather than vs the Buck as Usd/Chf holds above 0.9250.

In commodities, WTI and Brent front month futures retreated with the trigger point being back-to-back COVID updates – with Austria confirming a full-scale lockdown from Monday and Germany not ruling out its own lockdown. Crude futures reacted to the prospect of a slowdown in activity translating to softer demand. That being said, COVID only represents one factor in the supply/demand equation. Oil consuming nations are ramping up rhetoric and are urging OPEC+ to release oil. The White House confirmed the US discussed a possible joint release of oil from reserves with China and other countries, while it reiterated that it has raised the need for available oil supply in the market with OPEC. Meanwhile, the Japanese Cabinet said it will urge oil-producing nations to increase output and work closely with the IEA amid risks from energy costs. Further, energy journalists have also been flagging jitters of Chinese crude demand amid the likelihood of another tax probe into independent refiners. All in all, a day of compounding bearish updates (thus far) has prompted the contracts to erase all of their APAC gains, with WTI Dec just above USD 76/bbl (76.06-79.33/bbl range) and Brent Jan back under USD 79/bbl (78.75-82.24/bbl range). Elsewhere, spot gold saw a pop higher around the flurry of European COVID updates and despite a firmer Buck – pointing to haven flows into the yellow metal – which is nonetheless struggling to convincingly sustain a breach its overnight highs around USD 1,860/oz and we are attentive to a key fib at USD 1876/oz. Base metals prices are relatively mixed but have waned off best levels amid the risk aversion that crept into the markets, but LME copper holds onto a USD 9,500+/t status.

US Event Calendar

  • Nothing major scheduled

Central Banks

  • 10:45am: Fed’s Waller Discusses the Economic Outlook
  • 12:15pm: Fed’s Clarida Discusses Global Monetary Policy Coordination

DB’s Jim Reid concludes the overnight wrap

It was another mixed session for markets yesterday, with equities and other assets continuing to trade around their recent highs even as a number of risk factors were increasingly piling up on the horizon. By the close of trade, the S&P 500 had advanced +0.34% to put the index at its all-time high, whilst oil prices pared back their losses from earlier in the day to move higher. That said, there was more of a risk-off tone in Europe as the latest Covid wave continues to gather pace, with the STOXX 600 (-0.46%) snapping a run of 6 successive gains and being up on 17 out of the previous 19 days as it fell back from its all-time high the previous day, as haven assets including sovereign bonds were the beneficiaries.

Starting with those equity moves, it was difficult to characterise yesterday’s session in some ways, since although the S&P advanced +0.34%, it was driven by a relatively narrow group of sectors, with only a third of the index’s components actually moving higher on the day. Indeed, to find a bigger increase in the S&P 500 on fewer advancing companies, one needs to go back to March 2000 (though it came close one day in August 2020, when the index advanced +0.32% on 153 advancing companies). Consumer discretionary (+1.49%) and tech (+1.02%) stocks were the only sectors to materially advance. Nvidia (+8.25%), the world’s largest chipmaker, was a key outperformer, and posted very strong third quarter earnings and revised higher fourth quarter guidance. Following the strong day, Nvidia jumped into the top ten S&P 500 companies by market cap, ending yesterday at number eight.

The S&P gain may have been so narrow due to some negative chatter about President Biden’s build back better package, with CNN’s Manu Raju tweeting that Senator Joe Manchin “just told me he has NOT decided on whether to vote to proceed to the Build Back Better bill.” Manchin’s position in a 50-50 senate has given him an enormous amount of influence, and separate comments created another set of headlines yesterday on the Fed Chair decision, after The Hill reported Manchin saying that he’s “looking very favourably” at supporting Chair Powell if he were re-nominated, following a chat between the two about inflation. Mr Manchin is seemingly one of the most powerful people in the world at the moment.

While the Senate still presents a hurdle for the President’s build back better bill, House Democrats are close to voting on the bill but couldn’t last night due to a three hour speech by House Republican leader McCarthy. It will probably happen this morning. This follows the Congressional Budget Office’s ‘score’ of the bill, which suggested the deficit would increase by $367bn as a result of the bill, higher figures than the White House suggested, but low enough to garner support from moderate House Democrats.

Over in Europe there was a much weaker session yesterday, with the major equity indices falling across the continent amidst mounting concern over the Covid-19 pandemic. Germany is making another forceful push to combat the recent increase in cases, including expanded vaccination efforts, encouraging work from home, and restricting public transportation for unvaccinated individuals. Elsewhere, the Czech Republic’s government said that certain activities will be limited to those who’ve been vaccinated or had the virus in the last six months, including access to restaurants and hairdressers. Slovakia also agreed a similar move to prevent the unvaccinated accessing shopping malls, whilst Hungary is expanding its mask mandate to indoor spaces from Monday. Greece imposed further restrictions for its unvaccinated population. So a theme of placing more of the restrictions in Europe on the unvaccinated at the moment and trying to protect the freedoms of those jabbed for as long as possible.

That risk-off tone supported sovereign bonds in Europe, with yields on 10yr bunds (-3.0bps), OATs (-4.1bps) and BTPs (-5.5bps) all moving lower. That was a larger decline relative to the US, where yields on 10yr Treasuries were only down -0.3bps to 1.59%, with lower real yields driving the decline.

One asset class with some pretty sizeable moves yesterday was FX, where a bunch of separate headlines led to various currencies hitting multi-year records. Among the G10 currencies, the Swiss Franc hit its strongest level against the euro in over 6 years yesterday on an intraday basis. That came as the Covid wave has strengthened demand for haven assets, though it went on to weaken later in the day to close down -0.15%. Meanwhile, the Norwegian Krone was the weakest G10 performer (-0.72% vs USD) after the Norges Bank said it would be stopping its daily foreign exchange sales on behalf of the government for the rest of the month. Finally in EM there were some even bigger shifts, with the Turkish Lira falling to a record low against the US dollar, which follows the central bank’s decision to cut interest rates by 100bps, in line with expectations. And then in South Africa, the Rand also fell to its weakest in over a year, in spite of the central bank’s decision to hike rates, after the decision was interpreted dovishly.

Overnight in Asia stocks are trading mostly higher led by the Nikkei (+0.45%), KOSPI (+0.43%), Shanghai Composite (+0.34%) and CSI (+0.18%). The Hang Seng (-1.76%) is sharply lower and fairly broad based but is being especially dragged down by Alibaba which dived -11% after it downgraded its outlook for fiscal year 2022 and missed sales estimate for the second quarter. Elsewhere in Japan headline CPI for October came in at +0.1% year-on-year (+0.2% consensus & +0.2% previous) while core CPI matched expectations at +0.1% year-on-year. The numbers reflect plunging mobile phone fees offsetting a 21% surge in gas prices. If the low mobile phone costs are stripped out, core inflation would be at 1.7% according to a Bloomberg calculation. Prime Minister Fumio Kishida is expected to deliver a bigger than expected stimulus package worth YEN 78.9 trillion ($690 bn) according to Bloomberg. We should know more tomorrow. Moving on futures are pointing to a positive start in US and Europe with S&P 500 (+0.42%) and DAX (+0.39%) futures both up.

Turning to commodities, oil prices had been on track to move lower before paring back those losses, with Brent Crude (+1.20%) and WTI (+0.83%) both up by the close and edging up around half this amount again in Asia. That comes amidst continued chatter regarding strategic oil releases, and follows comments from a spokeswoman from China’s National Food and Strategic Reserves Administration, who Reuters reported as saying that they were releasing crude oil reserves.

New York Fed President, and Vice Chair of the FOMC, John Williams, upgraded his assessment of inflation in public remarks yesterday. A heretofore stalwart member of team transitory, he noted that they wouldn’t want to see inflation expectations move much higher from here, and that recent price pressures have been broad-based, driving underlying inflation higher. Williams is one of the so-called core members of FOMC leadership, so his view carries some weight and is a useful barometer of momentum within the FOMC. Indeed, Chicago Fed President Evans, one of the most resolutely dovish Fed Presidents, expressed similar sentiment, recognising that rate hikes may need to come as early as 2022 given the circumstances.

There wasn’t much in the way of data yesterday, though the weekly initial jobless claims from the US for the week through November 13 came in higher than expected at 268k (vs. 260k expected), and the previous week’s reading was also revised up +2k. That said, the 4-week moving average now stands at a post-pandemic low of 272.75k. Otherwise, the Philadelphia Fed’s manufacturing business outlook survey surprised to the upside at 39.0 in November (vs. 24.0 expected), the highest since April. That had signs of price pressures persisting, with prices paid up to 80.0, the highest since June, and prices received up to 62.9, the highest since June 1974. Finally, the Kansas City Fed’s manufacturing index for November fell to 24 (vs. 28 expected).

To the day ahead now, and central bank speakers include ECB President Lagarde, Bundesbank President Weidmann, Fed Vice Chair Clarida, the Fed’s Waller and BoE Chief Economist Pill. Separately, data highlights include UK retail sales and German PPI for October.

3A/ASIAN AFFAIRS

i) FRIDAY MORNING/THURSDAY  NIGHT: 

SHANGHAI CLOSED UP 39.66 PTS OR  1.33%     //Hang Sang CLOSED DOWN 269.75 PTS OR 1.07% /The Nikkei closed UP 147.21 PTS OR 0.50%    //Australia’s all ordinaires CLOSED UP 0.22%

/Chinese yuan (ONSHORE) closed DOWN  6.3894   /Oil DOWN TO 78.82 dollars per barrel for WTI and DOWN TO 78.26 for Brent. Stocks in Europe OPENED  ALL RED  /ONSHORE YUAN CLOSED  DOWN AT 6.3894 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3936/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

3 a./NORTH KOREA/ SOUTH KOREA

/NORTH KOREA//SOUTH KOREA

 

 
 
end

b) REPORT ON JAPAN

JAPAN/

 

3 C CHINA

CHINA//USA

 

end

CHINA//TAIWAN/USA

4/EUROPEAN AFFAIRS

AUSTRIA//COVID//VACCINE MANDATE

Austria’s Salzburg and Upper Austria expand their lockdowns now to include the entire population.

Boy, have they got this wrong! Cases are surging in this very high vaxxed nation.  The cases no doubt are ADE,

(zerohedge)  Last night..

Austria’s Salzburg And Upper Austria Expand Lockdown To Include Entire Population

 
FRIDAY, NOV 19, 2021 – 02:45 AM

It’s no longer just the unvaccinated who are subject to Austria’s draconian lockdowns: following the record surge in covid cases  in Austria which we discussed earlier,

… the regions of Salzburg and Upper Austria will introduce a lockdown for the entire population starting on Monday, which regional leaders said would last for “several weeks” but would hopefully be over by Christmas.

There is no longer any alternative than to order a full lockdown in the region, Salzburg’s governor Wilfried Haslauer told a press conference on Thursday afternoon: “We have considered a lockdown to be a significant infringement on the public, but now we are left with no other choice,” he said according to The Local.

The length of the lockdown is not yet confirmed, but Haslauer said it would last at least three weeks, and most likely four. As in previous lockdowns, it would be possible to leave home only for essential purposes including food shopping, exercise, and accessing medical care including vaccinations. Hotels, restaurants and retail stores will close.

He urged everyone in the region who is eligible to get their first vaccine doses as well as boosters, “so that we can get out of this lockdown as soon as possible, before Christmas if at all possible”. Salzburg this week followed Vienna in making booster doses possible from four months after the second dose.

Haslauer also said that all municipalities in Salzburg would be offering vaccination seven days a week. He noted that as of Monday, Salzburg already has the strictest measures in Austria, but said: “The time it takes for these to take effect is time that our hospitals do not have.”

“Lockdown is an effective short-term measure, but it is not a solution. Vaccination is the only solution,” he said, even though it clearly is not.

During the lockdown, schools will also be closed with a return to home-learning, although students with additional learning needs or who need to go to school (for example if their parents work in essential jobs) will still be able to attend in-person.

Just how widespread is this epic scourge that necessitated the lockdown of an entire city? Well, according to The Local as of Thursday afternoon, Salzburg has 31 Covid-19 patients receiving intensive care treatment in hospital, 27 of them unvaccinated, said Christian Stöckl, the region’s deputy governor and health councillor. The remaining four all had a higher than average risk of illness from Covid-19 due to their age or health conditions.

In other words, 31 patients means a city-wide lockdown for everyone.

Haslauer said that he preferred for consistent measures across the country, but would not comment on whether he wanted to see a nationwide lockdown, telling a reporter: “I would have preferred that we did not need this measure at all.”

Upper Austria governor Thomas Stelzer confirmed on Thursday morning that both regions would go into lockdown next week, regardless of what is decided on Friday for the national measures.

“We don’t have much leeway, to say the least. We have very, very little leeway,” Stelzer said. “If there is no nationwide lockdown, Upper Austria and Salzburg will go into lockdown from next week,” said Stelzer, adding that he would advocate for the measure to be imposed nationwide at Friday’s meeting between the government and regional leaders.

Stelzer did not give a specific timeframe for the lockdown, but said that it would last for multiple weeks. A press conference was scheduled for 5.30pm.

The announcement comes as Austria is in the first week of a nationwide ten-day lockdown for people without 2G (proof of either full vaccination against Covid-19 or recent recovery from the virus). This partial lockdown is enforced with police patrols, but has been criticised as being divisive and difficult to control.

The Green Party in Salzburg have called for a full lockdown in the region, as have several intensive care doctors, due to the severe level of the spread of the virus.

In the capital Vienna, which has the country’s lowest incidence rate but is still classed as “very high risk” by the Corona Commission, mayor Michael Ludwig said on Wednesday afternoon that he “could not rule out” another lockdown.

“I don’t want [Vienna] to end up in the same situation as other regions,” Ludwig told reporters when asked about a possible general lockdown.

On Thursday, Austria reported 15,145 new cases of Covid-19 in the past 24 hours, reaching another all-time high. That’s despite a strict mask mandate and the current lockdown of all unvaccinated people, which has sparked several major protests already.

END

Austria//COVID/VACCINE MANDATE

this morning…

Austria re imposes full lockdowns for the entire population and will penalize those who resist.  Neighbouring Germany may follow

(zerohedge)

Austria Re-Imposes Full Lockdown, Vow “Penalties” For Those Who Resist; Germany May Follow

 
FRIDAY, NOV 19, 2021 – 07:17 AM

Austria will become the first country in western Europe to reimpose a full COVID-19 lockdown starting Monday, November 22, it said on Friday as neighboring Germany warned it may follow suit, sending shivers through financial markets worried about the economic fallout of yet another round of lockdowns, even if some were cynical enough to ask if the whole point of this latest escalation is to greenlight even more stimmies.

Austria also said it would require the whole population to be vaccinated as of February 1. Austrian Chancellor Alexander Schallenberg made the announcements at a press conference on Friday,

Roughly two-thirds of Austria’s population is fully vaccinated against COVID-19, and yet its infections are among the highest on the continent, with a seven-day incidence of 991 per 100,000 people.

Following the previously announced lockdown of the unvaccinated, which failed to put a halt to soaring case numbers, the entire country will now be placed under a full lockdown lasting at least 10 days. Also, starting From February 1st, everyone will also be legally required to have been vaccinated. Austrian authorities also said they would make the COVID-19 vaccine mandatory, vowing “penalties” for those who continue to resist.

“We haven’t been able to convince enough people to vaccinate. For too long, I and others have assumed that you can convince people to get vaccinated,” said Chancellor Alexander Schallenberg. “It hurts that such measures still have to be taken.”

He also vowed to impose “penalties” on those who still refuse to get vaccinated, although these weren’t specified.

What are the main rules of the lockdown?

  • From Monday, November 22nd, Austria will go into a three-week lockdown, which will end on December 12th.
  • Shops and restaurants will be forced to close.
  • Working from home will be mandatory in any job where it is possible to do so.
  • FFP2 masks are mandatory in all enclosed rooms.
  • Schools will not be officially closed but will remain open for “those who need them”, although face-to-face lessons will not take place.
  • This mirrors rules from lockdowns in 2020, where schools moved to distance learning but still provided care for students whose parents were unable to do so, for example young children of parents working essential jobs or those with extra learning needs.
  • The government called on parents to return to home-learning if at all possible.
  • The suite of measures will be evaluated after ten days.

It’s likely that Austria will follow the United States in attempting to make vaccination compulsory for having a job, even though much of the Austrian public is highly sceptical about vaccines. It is planning a protest against coronavirus restrictions on Saturday.

Meanwhile, a fourth wave of infections has plunged Germany, Europe’s largest economy, into a national emergency, Health Minister Jens Spahn said. He urged people to reduce their social contacts, warning that vaccinations alone would not reduce case numbers.

Asked if Germany could rule out an Austrian-style full lockdown, Spahn said: “We are now in a situation – even if this produces a news alert – where we can’t rule anything out. “We are in a national emergency,” he told a news conference.

Numerous other countries, including Germany, Italy, Slovakia and the Czech Republic, are all about to implement new restrictions in an effort to combat a “fourth wave” of the virus.

Europe is currently experiencing its highest ever COVID surge, with 310,000 cases being registered across the continent over the last 24 hours. Ireland is also on a “war footing” and could be about to introduce a new lockdown despite having a 94% vaxxed population, mandatory mask mandates, and a vaccine passport scheme already in place.

One country which is coping noticeably better than the rest of Europe is Sweden, which never imposed any strict mask mandates or legal lockdown.

European stocks retreated from record highs, while government bond yields, oil prices and the euro tumbled as the spectre of a fresh COVID-linked lockdown in Germany and other parts of Europe cast a fresh shadow over the global economy. read more

As cases rises again across Europe, a number of governments have started to reimpose limits on activity, ranging from Austria’s full lockdown, to a partial lockdown in the Netherlands, to restrictions on the unvaccinated in parts of Germany, the Czech Republic and Slovakia.

Hungary reported 11,289 new COVID-19 cases on Friday, its highest daily tally, and will make booster shots mandatory for all healthcare workers and require mask wearing in most indoor places from Saturday.

While the new measures across Europe are not seen hitting the economy as much as the all-out lockdowns of last year, analysts say they could weigh on the recovery in the last quarter of the year, especially if they hit the retail and hospitality sectors.

A full lockdown in Germany would be more serious, however.

“A total lockdown for Germany would be extremely bad news for the economic recovery,” said Ludovic Colin, a senior portfolio manager at Swiss asset manager Vontobel. “It’s exactly what we saw in July, August of this year in parts of the world where the delta (variant) was big, it (COVID-19) came back and it slows down the recovery again,” he added.

The pressure on intensive care units in Germany had not yet reached its peak, Spahn said, urging people to reduce contacts to help break the wave.

“How Christmas will turn out, I dare not say. I can only say it’s up to us,” he added.

Chancellor Angela Merkel said on Thursday Germany will limit large parts of public life in areas where hospitals are becoming dangerously full of COVID-19 patients to those who have either been vaccinated or have recovered from the illness. Merkel said on Thursday the federal government would consider a request from regions for legislation allowing them to require that care and hospital workers be vaccinated.

Saxony, the region hardest hit by Germany’s fourth wave, is considering shutting theatres, concert halls and soccer stadiums, Bild newspaper reported. The eastern state has Germany’s lowest vaccination rate.

New daily infections have risen 14-fold in the past month in Saxony, a stronghold of the far-right Alternative for Germany (AfD) party, which harbours many vaccine sceptics and anti-lockdown protesters.

end

Where Will The Next Lockdown Strike?

 
FRIDAY, NOV 19, 2021 – 12:05 PM

This morning traders woke up shocked by the news that Austria announced a nationwide lockdown from Monday after a recent dramatic spike in Covid cases, as well as mandatory jabs starting February. Meanwhile the German health minister announced that he couldn’t rule one out after restrictions were announced yesterday for the unvaccinated even though the outgoing German foreign minister subsequently talked down this possibility.

As Deutsche Bank’s Jim Reid shows in his Chart of the Day, daily cases per million for a selection of large countries and regions plus interesting other countries are once again surging, especially those in eastern Europe that seem to be going through an aggressive wave.

That said, especially in the case of Austria, the spike in documented cases appears to be directly tied to a recent surge in tests almost as if the government wanted to show a jump in cases, similar to what happened over the summer.

As Reid notes, for most of the countries near the top, the spike in cases has occurred fairly rapidly over the last couple of weeks. The exception is the UK where cases have been high and steady since the summer as high vaccination rates plus high infection rates have seemingly provided some degree of herd immunity.

As in Austria, Reid points out that it is important to bear in mind that testing rates vary considerably (the UK does the most per person in the G7) and that can affect the relative rankings, but the overall trend higher is clear.

The news is hitting European markets hard this morning as fears mount that the virus and restrictions will spread across the continent again.

However according to the DB credit strategist, the curveball might be the US. As Deutsche Bank economist Robin Winkler has been pointing out, the vaccination rate in Austria (64%) is somewhat lower than the likes of Spain (79%), Italy (74%), France (69%), the UK (69%) and Germany (68%) but it is still higher than the US (58%).

So although all the headlines are in Europe at the moment, Reid asks whether the US be more vulnerable than many European countries over the course of the full winter? As he concludes, “recent history suggests the US have a higher bar for economic restrictions related to covid but it also has a lower vaccination rate than their European peers.”

UK//COVID/VACCINE MANDATE

This is interesting: the uK passed a vaccine payout scheme in 2019 and it included COVID 19 cases.  They did not think that the payouts would be so huge.  Guess again

(Evans/EpochTimes)

Vaccine Damage Payouts In UK Could Soar Next Year

 
FRIDAY, NOV 19, 2021 – 02:00 AM

Authored by Owen Evans via The Epoch Times,

The number of claims for the UK’s vaccine injury scheme is expected to be 18 times higher next year, according to a government-backed health body.

The number was revealed in a tender for a contract for Medical Assessments: Vaccine Damage Payment Scheme, published on Nov. 15, which runs until Dec. 16, 2022.

The Vaccine Damage Payment Scheme (VDPS) is a one-off tax-free payment of £120,000 ($160,000) if someone is proved to have been severely disabled as a result of vaccination from diseases such as measles, mumps, and rubella (MMR), swine flu, and more.

In December 2020, ministers agreed to add COVID-19 to the scheme, to demonstrate “government confidence in the safety profile” of any vaccine being used in the vaccination programme.

In the UK, the CCP (Chinese Communist Party) virus vaccines currently approved for use are the Moderna, AstraZeneca, and Pfizer-BioNTech vaccines. All three have legal indemnity protecting companies from being sued for damages.

Historically, the average number of annual assessments for the scheme has been 100. It is now estimated that there will be 1,500 to 1,800 claims, according to the tender document. There are currently around 500 cases and, according to the National Health Service Business Services Authority (NHSBSA), that number is increasing by 20 per week.

According to the UK Coronavirus Dashboard, 110,206,709 vaccine doses have been administered in the country as of Nov. 17.

“As new vaccinations are added, this is likely to increase the amount of claims made against the scheme. The estimated volume of claims has been calculated as a worst-case scenario projection on the basis of the new vaccinations being added to the scheme,” a government spokesperson told The Epoch Times.

The NHSBSA is an arm’s length body of the Department of Health and Social Care. It manages over £35 billion ($47 billion) of NHS spend annually, delivering a range of services to NHS organisations, contractors, patients, and the public. It added the VDPS to its portfolio of work from Nov. 1, 2021.

Any existing claims have been automatically transferred over to the NHSBSA from the Department for Work and Pensions.

A vial of the COVID-19 vaccine developed by Oxford University and UK-based drugmaker AstraZeneca is checked as they arrive at the Princess Royal Hospital in Haywards Heath, England, on Jan. 2, 2021. (Gareth Fuller/Pool via AP)

“VDPS aims to provide financial support to individuals where, on very rare occasions, vaccination has caused severe disablement. It is not a compensation scheme, as it does not preclude an individual from seeking damages through legal routes,” said the government spokesperson.

The government did not say how many claims for vaccine damage payments after a COVID-19 vaccination have been paid out.

“These are very new vaccines and the possible links between the vaccine and potential side effects are still being investigated. This means it will take longer before we can determine whether an individual’s claim meets the first legal test of causation,” said the spokesperson.

The system has been criticised as being slow and that it needs to be made easier to access. Affected families are often left with little support. The BBC reported in July that the government had received 145 claims for vaccine damage payments after a COVID-19 vaccination, but no payments had been made.

Duncan Fairgrieve, professor of comparative law at Paris Dauphine University in France, told The Epoch Times that the “problems with the current VDPS are well-known” and argued that a bespoke scheme should be set up for compensating adverse events from the COVID-19 vaccines.

Fairgrieve explained that the £120,000 was “far too little to provide proper financial support for families who have suffered the death of a main wage-earner; and/or the impairment of a loved one who requires ongoing care and support.”

The VDPS also requires that all eligible applicants in the UK must meet a 60 percent disablement criteria. This is a concept of “percentage disablement” derived from the Industrial Injuries and War Pension schemes dating from before World War II.

“This criterion is antiquated, counterproductive, and unfair,” Fairgrieve said.

“Many applicants will have significant injuries and may be disabled up to 59 percent and yet, on the basis of the current scheme, they will have no access to funds via the VDPS.”

He added that other countries including France, Germany, the United States, and Nordic countries like Finland, Norway, Sweden, and Denmark provide more substantive funds to those who suffer vaccine injury.

 

END

FRANCE/MIGRANTS/UK

France halts sales of canoes due to huge migrant channel crossings

(zerohedge)

French Canoe Retailer Halts Sales Due To Soaring Migrant Channel Crossings

 
FRIDAY, NOV 19, 2021 – 04:15 AM

File this story under “you know things are bad when…”

2021 has seen an unprecedented surge in migrants fleeing the devastating beauty, culture, and freedom of France, to take the extremely perilous journey across The English Channel to make their future homes in England’s green-and-pleasant (and welfare-heavy) land.

A recent survey found that most Britons support tougher measures on people entering the country illegally. In fact, 61% believed that a migrant who comes to the UK from a ‘safe country’ (for example France) shouldn’t be allowed to stay in the UK as an asylum seeker. Of course, the UK’s plans to stop people entering the country have been criticised by charities including Refugee Action, which has called them “extreme and nasty”. 

And still they come, despite UK Home Secretary Priti Patel providing funding for French officials to “respond by posting more security forces further up the coast, installing and utilising the latest surveillance equipment throughout northern France,” and Brexit has no effect at all (in fact it’s got worse).

A record 1,185 migrants crossed the Channel in small boats last Thursday, and, as The BBC reports, a day later three migrants were reported missing after trying to cross the Channel in canoes.

The UK government said the record number of crossings was “unacceptable” and called on France to do more to prevent migrants from making the often dangerous journey.

So now, as LaVoixDuNord.fr reportsEuropean sporting retailer Decathlon has pulled canoes from sale in northern France to stop migrants from using them to cross the English Channel.

“The purchase of canoes will no longer be possible… given the current context,” Decathlon told the AFP news agency, confirming local media reports.

It added that “people’s lives would be endangered” if they were used by those hoping to reach England.

Kayaks, light inflatable boats and even paddles are the means of crossing for the poorest migrants . 

This is confirmed by Bernard Barron, president of the National Society for Rescue at Sea (SNSM) in Calais .

 “Those who use these boats, which are less numerous than those equipped with an engine, are not associated with a network of smugglers, they buy an inflatable kayak for three people for € 300. We picked up a lot of migrants in difficulty on kayaks last summer . “

Decathlon Calais, which removed kayaks from its shelves on Friday, will however still sell safety equipment at sea (vests, oars, thermal protection, etc.).

It remains to be seen whether this exceptional measure, which can only concern Calais, will be followed by other brands on the coast.

end

UK

BOJO’s solution for Europe freezing from gas shortage…..start a hot war with Russia\\Cunningham/Strategic Culture Foundation

BoJo’s Solution For Europe Freezing From Gas Shortage… Start Hot War With Russia!

 
FRIDAY, NOV 19, 2021 – 03:30 AM

Authored by Finian Cunningham via The Strategic Culture Foundation,

Europe should give up supplies of natural gas from Russia and instead defend Ukraine and Poland. That’s the plucky advice of Britain’s Prime Minister Boris Johnson who counts wartime leader Winston Churchill as one of his political heroes.

Addressing a City of London banquet this week, Johnson warned Germany, France, Italy and other European governments:

“We hope that our friends [in Europe] may recognize that a choice is shortly coming between mainlining ever more Russian hydrocarbons in giant new pipelines and sticking up for Ukraine and championing the cause of peace and stability.”

Note the pejorative use of the word “mainlining” which implies Europe’s trade with Russia for gas is a sordid addiction, rather than a mutual commercial partnership.

Johnson also pointed to British troops being deployed to Poland helping that country construct barbed-wire barriers for halting the flow of refugees from Belarus as an example of “defending Europe”.

In the facile, elitist world of Boris, whose slapstick hairstyle is a reflection of disarray in the grey matter beneath, he has an “easy” solution for Europe’s energy supply shortages and soaring prices. That is, cut off potentially abundant, affordable exports of natural gas from Russia – which will plunge European households into freezing conditions and ramp up consumer inflation.

But don’t worry about that grim hardship. Boris’ noble defense of Poland and Ukraine against alleged Russian hybrid warfare and aggression will likely start a hot war that in turn will spiral into a thermonuclear conflagration engulfing the continent of Europe. That’s one way of “solving” freezing conditions, we may suppose.

Johnson’s advice to Europe is like listening to a clown smoking a reefer near a gasoline spigot.

His rosy British war history paints Poland and Ukraine as victims of aggression. The current scenario is contrived to evoke memories of Britain declaring war on Nazi Germany after the Third Reich invaded Poland in September 1939. Never mind that Britain and Poland’s fawning over the Fuhrer in the run-up to the Second World War was a major precipitating factor in eventually igniting that war.

Johnson’s cartoon-history speech at the City of London banquet implies that Russia is the contemporary incarnation of Nazi aggression. Those horrible Ruskies are supplying Europe with up to half of its natural gas fuel which is keeping European homes warm. How utterly fiendish of the Ruskies! So, in Boris’ logic, we must cut off this nefarious gas “weapon” used by the Russians to stop Europe from freezing.

While we’re on the subject of freezing, it is the Polish military with the help of British troops who are drenching hapless refugees in the middle of winter with water cannons to prevent them from entering the European Union from neighboring Belarus. The predominantly Middle Eastern refugees are in Belarus largely as a result of criminal wars waged by the United States, Britain, Poland and other NATO members over the past two decades.

Britain and its NATO partners have weaponized Poland and the Baltic states to antagonize Belarus, as well as Russia. While the Polish military erects razor-wire fences against freezing, huddled women and children, it is barbarous acts like this that evoke the heinous memory of fascism and aggression in Europe. Poland, the Baltic states of Lithuania, Latvia and Estonia, and Ukraine are steeped in complicity with past Nazi crimes, despite their obdurate denials. The cruelty being meted out to refugees today is shockingly consistent, although dimwits like Britain’s Johnson arrogantly pronounce on history with an upside-down distortion.

It’s not just Johnson though.

European Union leaders are decrying Russia for “masterminding hybrid warfare” with Poland, the Baltics and Ukraine. When it is the EU that is funding the rolling out of barbed wire concertinas and militarization of borders across Europe. This effete cowardice and duplicity of Europe’s political class have echoes of the past too in the face of fascism.

France’s President Emmanuel Macron this week reportedly warned Russian leader Vladimir Putin that NATO will defend Ukraine if the latter is invaded by Russia. Such hypothetical hyping is insulting.

Russia has no intention of invading Ukraine or any other European country. Where’s the evidence? Where’s the reasoning? This shrill scenario is entirely dreamt up by NATO propaganda and Russophobia.

The Ukraine has been a NATO spearhead for aggression towards Russia ever since the U.S.-led military bloc backed a coup d’état in Kiev in 2014. The Kiev Neo-Nazi regime is waging a low-intensity war against the ethnic Russian population of Southeast Ukraine. NATO is arming the regime to the teeth, the latest weaponry including attack drones from Turkey.

The U.S. and other NATO members are also increasingly conducting war drills in the Black Sea on Russia’s border. The tensions with Russia are compounded by the militarization of the refugee crisis between Belarus and Poland and the Baltic states.

If an analogy is to be made between the Second World War and the present it is that Russia is once again being subjected to aggression. Instead of the Nazi Wehrmacht over-running Poland, the Baltics and Ukraine it is the U.S.-led NATO axis.

Clowns like Britain’s Boris Johnson and France’s Emmanuel Macron are fanning aggression and the danger of war with fatuous speeches about “defending” Europe.

As the saying attributed to Karl Marx goes: history repeats itself first as tragedy then as farce. Another axiom cited by Boris’s hero Winston Churchill is: those who fail to learn from history are doomed to repeat it.

Lamentably, we are living in such a time.

end

END 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE
Robert H to us:
 
his is a body blow to the Zealots in Kiev and their enablers as this region will not flourish while the rest of the Ukraine sinks into the abyss of chaos and corruption as a failed state. And you know they will scream “ the Russians are coming”.

https://tass.com/politics/1363441

Putin’s decree on Donbass is response to Kiev’s refusal to honor Minsk accords — envoy

This document paves the way for the revival and recovery of the Donetsk and Lugansk economies, Russia’s Authorized Representative in the Contact Group Boris Gryzlov noted
Russian Authorized Representative in the Contact Group on Settling the Situation in Eastern Ukraine Boris Gryzlov Yulia Zyryanova/POOL/TASS
Russian Authorized Representative in the Contact Group on Settling the Situation in Eastern Ukraine Boris Gryzlov
© Yulia Zyryanova/POOL/TASS

MOSCOW, November 18. /TASS/. Russian President Vladimir Putin’s decree on supporting the population of the Donbass region not under Kiev’s control is a purely humanitarian response to Ukraine’s refusal to honor the Minsk accords, Russia’s Authorized Representative in the Contact Group on Settling the Situation in Eastern Ukraine Boris Gryzlov said on Thursday.

“The decree by President of Russia Vladimir Putin ‘On Rendering Humanitarian Assistance to the Population of Separate Districts of the Donetsk and Lugansk Regions of Ukraine’ contributes to overcoming the aggressive economic and humanitarian blockade of Donbass and stabilizing the social and economic situation in the region,” the Russian envoy stressed.

“This is a purely humanitarian response to Kiev’s non-fulfillment of the Minsk accords, the economic and transport blockade of the Donetsk and Lugansk regions that has been in place since 2017 and the liberation of the region’s residents from the economic stranglehold created by the Kiev regime,” the envoy stressed at Minsk format talks.

As the envoy explained, the decree stipulates equal access of Donbass goods to Russia’s state procurement tenders. It also removes quotas on the movement of goods across the customs border.

 

“This actually paves the way for the revival and recovery of the Donetsk and Lugansk economies that possess considerable resources and potential in the metals, energy and engineering sectors. This also means closer economic cooperation with Russian regions in compliance with the Package of Measures,” Gryzlov stressed.

Simplified customs procedures are intended to utilize Donbass enterprises’ capacity to a greater extent, keep jobs and improve the social and economic conditions of the local population, the envoy explained.

“This means cheaper goods, larger trade volumes and, as a result, a significant rise in the Donbass population’s purchasing power,” he said.

The Russian president’s decree “is a forced reply to Kiev’s actions that are intended to escalate the conflict and actually fall under the UN Genocide Convention,” Gryzlov pointed out.

The Russian envoy urged the Ukrainian authorities to honor their commitments for settling the situation in eastern Ukraine and bear responsibility for their aggressive actions.

“Ukraine’s deliberate escalation of the conflict is a deadlock with no way out,” Gryzlov said.

“We once again call on the Ukrainian delegation to start talks directly with Donetsk and Lugansk on a comprehensive political settlement as soon as possible in compliance with the Minsk accords for establishing peace in Ukraine’s southeast within the shortest time possible,” the Russian envoy stressed.

Decree on Donbass support

Russian President Vladimir Putin signed a decree on November 15 to provide humanitarian assistance to the population of the Donbass districts uncontrolled by Kiev. The head of state instructed the Russian government to take a series of measures within a month to ease the conditions for admitting goods from the Donetsk and Lugansk People’s Republics (DPR and LPR) to the Russian market. The decree stipulates that these goods may take part in state procurement tenders alongside Russian merchandise.

The Russian government has also been instructed to carry out work within a month for validating certificates of the origin of goods issued to businesses actually operating in the DPR and the LPR. As part of the package of support measures, the Russian leader instructed the government to lift qualitative restrictions for the export and import of goods moving to or from these territories across the Russian state border.

Donbass economic blockade

After Ukrainian President Viktor Yanukovich was ousted in a coup in February 2014, mass protests erupted in eastern Ukraine with the predominantly Russian-speaking population. In retaliation, the Kiev regime launched a military operation in Donbass in mid-April that year. Massive bombardments of residential quarters, including with the use of combat planes, led to a large-scale humanitarian disaster in the region.

Kiev unleashed its policy of the Donbass economic blockade in 2014. Starting from December 2014, Ukraine’s government halted all social allowance payments to Donbass pursuant to the Ukrainian president’s decree, including retirement benefits and bank services for accounts held by households and enterprises.

In 2017, following the Ukrainian radicals’ blockade of the traffic of freight trains with coal from Donbass and their demands to halt all trade ties with the Donetsk and Lugansk People’s Republics, the Donbass territories decided to introduce external administration at all the Ukrainian enterprises in the region and refocus deliveries on the market of Russia and other countries.

Since March 15, 2017, Kiev has halted all transport communication with the DPR and the LPR by the decision of Ukraine’s National Security and Defense Council.

6.Global Issues

CORONAVIRUS UPDATE

A biggy!! serious adverse events in professional athletes skyrocket 6,000% following the COVID vaccine rollout

(NaturalNews)

Serious adverse events in professional athletes skyrocket 6,000 percent following Covid “vaccine” rollout – NaturalNews.com

 
 
 
 

https://www.naturalnews.com/2021-11-17-covid-vaccine-adverse-events-professional-athletes-skyrocket.html

 

(Natural News) Young athletes all around the world are dropping dead in record numbers, and the obvious culprit is Wuhan coronavirus (Covid-19) “vaccines.”

Ever since these abominations were released under “Operation Warp Speed,” serious adverse events in otherwise healthy professional sports players have skyrocketed 60-fold.

Some of their stories you can watch in the following video tweeted by Dr. Robert Malone, M.D.:

 

“Now, in the comments of that tweet, you’ll see people say that ‘these events happen all the time,’” writes Steve Kirsch on his Substack. “True, they do.”

“But they don’t happen at this rate. No way. That’s the thing nobody can explain. The vaccine advocates find this super-irritating. They have no rational excuse on this. They can’t use ad hominem attacks. They can’t use goofball hand waving arguments. Nothing.”

Kirsch published a full list of all known cases of professional athletes who either dropped dead or suffered a heart attack while playing their sports (we also published a similar list).

One of the first things that sticks out is just how young most of these athletes were. Many were 15, 16 and 17 years old – still in high school, in other words.

Many others were in their 20s and 30s – basically the full gamut of ages in the professional realm of athleticism. These were healthy people, just to be clear, prior to taking the Fauci Flu jab regimen.

Older people are dropping dead from covid shots, too

Pro-vaccine fanatics are doing everything possible to divert attention away from this phenomenon, including by blaming it on cannabis use. The latest excuse, if you can even believe it, is that marijuana legalization is somehow responsible for teen athletes dropping dead on the field.

“Just one tiny little problem,” notes Kirsch. “[W]e’re talking a rate (of heart incidents) elevated by 6,428%.”

Cannabis has been around and in widespread use since the beginning of time, and yet this sudden phenomenon of heart attacks and other cardiovascular issues in young people only emerged at the current rate immediately after Chinese Virus injections were introduced.

Call me crazy, but the correlation in this case clearly translates to causation. There is only one factor that changed in all of these people’s lives and that is the fact that they took the shots as commanded by the government and paid the ultimate price.

While much of the media’s attention is focused on young athletes, Kirsch points out that older people are also getting sick and dropping dead from covid injections as well.

Data contained in VAERS (Vaccine Adverse Events Reporting System) shows that people young and old are developing heart problems at rates never before seen prior to Operation Warp Speed.

“What’s nice about the athletes is that it is right in front of everyone to see,” Kirsch says. “No arguments about under or over reporting. No arguments about causality. The control group is basically history.”

Many health care professionals have also come forward to verify these injuries and deaths, proving that they are not just anecdotes. Some say they have seen a 100-fold increase in cases of myocarditis and pericarditis, for instance.

“These monsters (big pharma, politicians and MSM) are killing people,” one person tweeted about all this. “Totally unconscionable to suppress this information, all for a vaccine that doesn’t work.”

A piece from The Exposé claims that teen deaths alone are up 125 percent compared to the five-year average in Ireland, all since Chinese Virus injections were introduced. So much for “safe and effective.”

The latest news about the wave of young people who are becoming seriously injured or dying from Wuhan coronavirus (Covid-19) “vaccines” can be found at ChemicalViolence.com.

Sources for this article include:

SteveKirsch.substack.com

NaturalNews.com

end

Criminals!! Pfizer and Moderna cleared for booster shots which wane after 60 days

(zerohedge)

Pfizer, Moderna Jump After FDA Clears Covid Booster Shot For Adults

 
FRIDAY, NOV 19, 2021 – 08:30 AM

Update (830am ET):  Pfizer has joined Modern in trading sharply higher – and hitting new record highs – when moments after the Moderna announcement, Pfizer and BioNTech also said the U.S. Food and Drug Administration has expanded the emergency use authorization of a booster dose of the Pfizer-BioNTech COVID-19 vaccine to include individuals 18 years of age and older.  The booster dose is to be administered at least six months after completion of the primary series, and is the same dosage strength as the doses in the primary series.

* * *

Outright bans across numerous (mostly Nordic) countries due to widespread reports it is causing myocarditis in children and adults? No problem: moments ago the FDA cleared Moderna’s Covid-19 booster shot for all Americans 18 and older, making millions more people eligible for extra protection as concern about a potential winter wave of infections grows. As to whether those millions will take the booster shot knowing that the “vaccine” doesn’t actually prevent them from catching covid, and at best mitigates the severity of the disease even as it creates risks of other, just as unpleasant side-effects, is unclear.

The U.S. Food and Drug Administration said adults who received their second dose of the company’s shot at least six months ago are now eligible to receive a third, according to a statement Friday from Moderna. The booster from Pfizer Inc. and BioNTech SE is expected to gain a similar clearance on Friday.

The FDA based the EUA on scientific evidence shared by the company including a data analysis from the Phase 2 clinical study of mRNA-1273, which was amended to offer a booster dose of mRNA-1273 at the 50 µg dose level to interested participants 6-8 months following their second dose (n=344)

A panel of experts who advise the Centers for Disease Control and Prevention on vaccine policies are expected to review the evidence and make further guidance for administering booster shots at a meeting on Friday afternoon; there will be no surprises as the CDC will side with the FDA.

Booster shots of mRNA vaccines – also called “gene therapy” by those who then see their twitter account be banned in perpetuity – have been available for people 65 and over, as well as others who could be at higher risk of severe disease, since mid-September. Under federal guidelines, recipients can receive any of the three authorized shots as a booster, regardless of the brand of their initial vaccine.

More than a third of fully vaccinated seniors had received a booster as of Thursday, according to the Centers for Disease Control and Prevention, and 17% of fully vaccinated adults overall have had an additional shot.

Worry that the effectiveness of initial inoculations could fade as the weather cools and more people socialize indoors has driven the most recent push for wider use of boosters. Data presented to U.S. drug regulators by Pfizer, Moderna and Johnson & Johnson suggested all three of the currently authorized vaccines in the U.S. have seen their efficacy diminish.

Pfizer asked the FDA to expand access to its booster to all adults earlier this month. The company and partner BioNTech SE said data from a large clinical trial demonstrated a relative vaccine efficacy of 95% for booster recipients when compared with those who didn’t get a booster.

Moderna shares surged as much as 6.8% to $268.70 in premarket trading

end

Official Public Health England data:

COVID infections rates higher in vaxxed than unvaxxed

(Watson//SummitNews

Official Public Health England Data Says COVID Infection Rates Higher In Vaxx’d Than Unvaxx’d

 
FRIDAY, NOV 19, 2021 – 09:05 AM

Authored by Paul Joseph Watson via Summit News,

The Spectator has published an article citing official data from Public Health England, which states that for the over 30’s, “the rates of Covid infection per 100,000 are now higher among the vaxxed than the unvaxxed.”

Well, this is awkward.

The article, written by Lionel Shriver, is titled ‘The absurd theatre of vaccine passports’.

It points out that according to official data, vaccines only offer about 17 per cent protection for the over-fifties.

“As I observed then, this would mean the vaxxed and unvaxxed pose a comparable danger to each other,” writes Shriver.

“All Covid apartheid schemes are therefore insensible.”

She then clearly explains how the official data undermines the entire argument behind vaccine passports, which ban the unvaccinated from entering innumerable venues.

“Fresher information has fortified this conclusion of the summer. In every age group over 30 in the UK, the rates of Covid infection per 100,000 are now higher among the vaxxed than the unvaxxed. Indeed, in the cohorts aged between 40 and 79, infection rates among the vaccinated are more than twice as high as among the unvaccinated. PHE’s fruitlessly rechristened body, the UK Health Security Agency, frantically clarifies that the data ‘should not be used to estimate vaccine effectiveness’, a caveat which I include for the sake of accuracy. But the differences in the infection rates are drastic enough for you to draw your own conclusions.”

Shriver then summarizes how that data demolishes the reason for implementing vaccine passport schemes.

“Gatekeeping of pleasure palaces promotes the wrong impression — statistically, the lie — that the unvaccinated riff-raff exiled to the pavement pose a far graver threat of communicable disease than the diners in the nearby banquette who, like you, have righteously got the shot. In truth, the double-jabbed airline passenger in 24A can be just as risky a seat-mate as the great unwashed banished from the flight.”

Meanwhile, the Times reports the results of another study which “found the double-jabbed are just as likely to pass on Covid-19 as unvaccinated people.”

After Public Health England published the data, government bureaucrats begin to panic that people would use it to suggest vaccines were not that effective.

Office for Statistics Regulation director Ed Humpherson called an urgent meeting with U.K. Health Security Agency during which he worried about the data having “the potential to mislead.”

“We noted that these data have been used to argue that vaccines are ineffective,” Humpherson subsequently wrote.

Isn’t it strange how the government and associated regulatory bodies appear to be afraid of raw data?

If the vaccines are as effective as they tell us, why would they be worried?

end.

Rand Paul goes on the warpath against Fauci’s casual disdain for human rights. He pounds the table that this is a recipe for totalitarianism

(Watson/SummitNews)

 

Watch: Rand Paul Warns “Authoritarian” Fauci’s “Casual Disdain” For Rights Is “Recipe For Totalitarianism”

 
THURSDAY, NOV 18, 2021 – 06:20 PM

Authored by Steve Watson via Summit News,

Appearing on Fox News Wednesday, Senator Rand Paul continued his long running exposition of Anthony Fauci, warning viewers that Fauci’s latest comments provide yet another example of how brazenly “authoritarian” he is.

Fauci stated earlier this week that Americans have a “misplaced perception” about individual rights as regards “societal safety”.

Paul urged that it is “alarming” to see such “casual disdain” for individual freedom, as well as science, calling Fauci an “authoritarian that doesn’t obey the science.”

“He’s a liar and he lies about natural immunity. He knows it works,” Paul added.

“This is a recipe for totalitarianism. It’s a recipe for something we don’t want in our country,” the Senator further warned.

 

end

This is big:  a request for investigation against Pfizer to the RCMP for the vaccination against our young children:

The request came from a big lawyer firm in Calgary.

(special thanks to Milan S who got this for us)

Request for investigation RCMP

 
 
end
 
As promised this Mayo clinic trained doctor says that the COVID vaccines are locking in suppressed immunity making people more prone to HIV and of course cancers.
Natural News/
 

Mayo Clinic-trained doctor says covid “vaccines” are locking in suppressed immunity, making people more prone to HIV, HPV, shingles, herpes – NaturalNews.com

 
 
 
 
 
 
My god, what have these folks done? This is genocide on a mass scale.

https://www.naturalnews.com/2021-11-19-covid-vaccines-suppressed-immunity-hiv-hpv-herpes.html
 
 
end
 
this is very important:
 
Robert H provides this commentary for us:

This making the rounds globally in many forms

 

You may recall many months ago, i wrote that these vaccinations are nothing less or more than a depopulation effort that would allow the fools behind the so called reset to destroy the current social fabric and what has made the western world what it became as the envy of the of the rest of the world. In America the every day good fortune is simply business. It is business that makes America what it is and gives all Americans the ability to rise. Other western countries followed this in varying degrees. 

Part of the program is to basically sterilize the population to make way for transhumance. Do not believe? Check out Klaus’s family interests in robotics. Gates is Dr. Depopulation whose efforts have seriously damaged many women from Central America to India. All this information is freely available on line if you take the time to look. The damage from vaccinations was not anticipated as it happened as it was a greater secondary impact to the prime objective. And what has happened to the our countries over this crazy globalist effort to remake society is tragic but all is not all lost as many changes are underway. Nor are health issues related to these so called vaccinations going to be as bad as people have wanted or imagined or are suffering. 

There are certain techniques and technology that will manage many of the problems but will likely require a lifetime of effort. Regrettably, for some people including family and friends time will be short. You will start to see this next year. 

But let’s look at what they tried to do because fertility is simply in collapse in all countries where there is a high level of vaccinations. This is true of men and women of all ages. Without reproduction of a species it’s  becomes extinct in a hurry. So do populations within countries as there has much written in the past about declining populations in the all societies where a higher standard of living is achieved. 

PZP is used to sterilize wild horses in America. The first 2 doses must be taken within 2 to 6 weeks apart with a 8 month to yearly booster follow up. This reduces pregnancy rate 80%-90%. Does this sound familiar? Listen to the noise about so called boosters.

Something about the schedule sounds familiar. Did you know that the Pfizer CEO is also a veterinarian… how convenient???? By way how is his wife doing???

While this  is a potential nail in the coffin for Pfizer – SpayVac’s DPX lipid nanoparticle delivery system is the actual problem. 

SpayVac produces the PZP infertility vaccine. They licensed their DPX lipid nanoparticle delivery technology to Pfizer for them to make the COVID vaccine. Rather shocking is it not? Not a issue for older men or women of non child age but there are inherent problems that were not anticipated nor addressed in the rush to produce these shots. 

The PZP vaccine doesn’t cause immediate sterility – it takes over a year to appear. (Funny, Pfizer only studied this a few months.) But PZP causes short term menstrual cycle changes as the immune system attacks the ovary cells. The SAME menstrual changes are being seen in women WORLDWIDE. And i have directly heard this from women of child bearing age. Just like the search at fertility clinics for fertile sperm donors. Soon enough sperm donations will pay as much as Bitcoin in value. 

END

GLOBAL ISSUES/GLOBAL INFLATION ISSUES

Global shortages of goods are happening across the globe.  Supermarkets alter their layout as they use decoys to fill gaps left by shortages.

(Market Trading Essentials)

“This Is Like Nothing I’ve Experienced Or Seen Before” – Supermarkets Alter Layouts, Use Decoys To Fill Gaps Left By Shortages

 
FRIDAY, NOV 19, 2021 – 05:00 AM

By Market Trading Essentials

While chaos reigns in supply chains, grocery stores are trying to present an appealing and seemingly organized front for customers. To do so, some are turning to age-old tricks of the trade, and developing new ones, to cover up gaps on the shelves.

That includes moving products to unlikely places in stores.

Shoppers in the U.K. said they have spotted bulky crates of beer piled into aisles reserved for prepackaged meals and boxes of chocolate filling crates usually stocked with fresh vegetables. One branch of Co-operative Group Ltd., which operates stores under Co-op, stocked refrigerated displays with shelf-stable HP Sauce and Heinz Salad Cream condiments so that shoppers wouldn’t see empty racks.

“We’ve been impacted by some patchy disruption to our deliveries,” a spokesperson for Co-op said. “Our teams are always trying to make sure our stores look as attractive as possible and sometimes managers come up with creative ways of making sure shelves are full.”

Businesses the world over are experiencing product shortages as demand for goods has rebounded faster than supply following the worst of the pandemic, which also disrupted labor availability at food suppliers. In the U.K., 17% of consumers said they couldn’t buy essential food items because they were unavailable between Sept. 22 and Oct. 3, according to figures from the Office of National Statistics.

Retailers say they need to maintain their customer experience as best they can to remain competitive.

Some 58% of consumers said supply-chain disruptions, product shortages and shipping delays have made shopping more stressful, and 41% said product shortages and significant shipping and delivery delays would cause them to abandon a brand, according to results from an October survey by New York-based trade association ICSC, which represents retail businesses.

For grocers, that means managing stores to at least look well-stocked, ordered and tidy.

Some have stacked whole aisles with items that ordinarily have a small space on one shelfOthers have filled gaps with cardboard “dummies,” including empty prepackaged sandwich boxes—a tactic that isn’t new, but one that shoppers are likely noticing is being employed more frequently, said Catherine Shuttleworth, founder and chief executive of retail consulting firm Get Savvy Marketing Ltd.

A spokesperson for British grocer Tesco PLC, which was spotted displaying cardboard photos of items in the place of merchandise in some stores, said the use of cutouts wasn’t connected to recent supply-chain challenges, and that the pictures are used by larger stores for various reasons, such as a layout reconfiguration. Meanwhile, supermarkets including Sainsbury’s PLC and the John Lewis Partnership PLC’s Waitrose & Partners, have been using signs to fill empty shelves. A spokesperson from Sainsbury’s said it had used signs to fill empty shelves in some stores before supply-chain issues began.

The use of cardboard placeholders makes operations easier for supermarkets, many of which are struggling to hire and retain staff, Ms. Shuttleworth said.

“It’s probably quicker and definitely cheaper to put bits of cardboard in than it is to do anything else,” such as reorganizing a store’s aisles or moving stock to fill the empty space, she said. Placeholders also can shield staff from shopper inquiries into the whereabouts of items, Ms. Shuttleworth said.

Grocery stores in the U.S. haven’t escaped product shortages, although larger companies with access to a wide network of suppliers, capital and space have had more success working around supply-chain issues without disrupting the shopper experience.

Kroger Co., the largest grocery chain in the U.S., said it increased its safety stock of items in more than 70 categories, sourced additional warehouse space to house the extra products and spread out the ports it uses for imports. Walmart Inc. also said it has diverted ships to less congested ports, while hiring 20,000 supply chain workers and further automating some warehouse operations.

But smaller grocery retailers with less flexibility have struggled to keep shelves full and to plan for what items may show up on any given day.

“I’ve had over a decade of retail experience and this is like nothing I’ve experienced or seen before,” said I’Talia McCarthy, general manager of the Dill Pickle Food Co-op in Chicago., which she said is dealing daily with deliveries arriving incomplete or not at all. “We have made a huge effort in making sure we’re not having these huge gaps.”

Dill Pickle has been filling fridges with surprising products in its cool section. That includes tofu, usually housed on shelves in the store’s Asian section, and shelf-stable products such as oat and soy milk.

“But there’s definitely a risk you take. Like, am I going to have to convince someone that they have to keep this refrigerated now?” Ms. McCarthy said.

Grocery store managers said they are deploying one of the oldest techniques usually used by stores running low on produce to other sections of the store: “Facing up,” or bringing the few items on a shelf to the front so customers can’t see the empty space behind. They are also increasing the number of “facings,” or rows, a certain item is given on a shelf to cover gaps.

Matt Santarpio, the owner of the Walnut Food Market in Newton, Mass., said some items that he previously gave one shelf spot to now are spread across two or three to cover up gaps left by sold-out or unobtainable goods. The Dill Pickle has also altered shelving layouts to avoid empty space, Ms. McCarthy said.

“If we see holes, we’ll all of a sudden make our bestsellers have three or four slots rather than just one or two,” she said.

But facing up doesn’t solve all problems, said Jon Roesser, the general manager of Weavers Way Cooperative Association in Philadelphia. “It gets to the point where it looks silly, say if you’re walking down the aisle and you see seven or eight facings of the same product,” he said.

Weavers Way isn’t troubled about leaving gaps, Mr. Roesser said. The store uses signs to indicate a product is out of stock and directs customers to ask staff about substitutes. The store also briefs staff on which items may be in or out at the start of each shift, Mr. Roesser said.

And for Mr. Santarpio, the owner of Walnut Food Market, leaving some shelves empty is a tactic designed to keep customers coming back.

He took over the business in January 2020, right before coronavirus measures closed down nearby offices, so many shoppers are visiting the store for the first time since it was remodeled.

Imports such as Smarties candy and Cadbury chocolate have been the hardest to come by, and the display boxes have been empty for months. But still, Mr. Santarpio keeps them on display.

“For certain things, I’m afraid people will come in, see it’s not here and wind up not coming back for it,” he said. “Keeping the box out shows I’m making an effort to get them in, and not giving up on them.”

END

 
 
LA PALMA VOLCANO ERUPTION
 

La Palma will affect not air quality in Western Europe but also result cooler temperatures

Rabobank: We’re About To Add A $1.8 Trillion Stimmy To A Logistics Network That Can’t Take It… Then We Are Really In Deep Ship

 
FRIDAY, NOV 19, 2021 – 09:56 AM

By Michael Every of Rabobank

The White House just reiterated its concerns at the monopoly global carriers hold over shipping: “This lack of competition leaves American businesses at the mercy of just three alliances. Retailers are charged fees for their container remaining on the docks, even if there is no way to move their containers. If the alliances decide to not accept exports, agricultural exporters will not be able to fulfil their contracts, and farmers’ perishable products may be left to rot.” It also argues laws do not require basic transparency of detention and demurrage fees carriers charge. This is why our ‘In Deep Ship’ report stressed the US has historically resisted such scenarios: as W. L. Marvin argued in 1903, A nation which is reaching out for the commercial mastery of the world cannot long suffer nine-tenths of its ocean-carrying to be monopolized by its foreign rivals.” More so when it has military control of the oceans but allows others to make the money from them.

In July 2020, the CSIS’s ‘Hidden Harbours’ argued: “The time is long overdue for the US to reinvigorate its maritime industries…The private-sector maritime industry cannot do this alone…The US and allied governments must bring to bear substantial and sustained political action, policies, and financial support. To do anything less is to cede control of the world’s maritime industry and global supply chains to China, and perhaps to force the US and its allies to enter their own ‘century of shame.’” An October 2021 Forbes op-ed bewailed the ‘Dwindling US Merchant Fleet is a Crisis Waiting to Happen’, stating mandating “a certain percentage of imports and exports be carried on US-flagged vessels.” As ‘In Deep Ship’ noted, the first Congressional legislation in 1789 was a 10% tariff on British shipping to build US industry and its maritime marine: it worked brilliantly.

This week, the White House says the Federal Maritime Commission (FMC) should “use all of the tools at its disposal to ensure free and fair competition,” and while the three carrier alliances receive statutory immunity from antitrust laws, the FMC can challenge those agreements if they “produce an unreasonable reduction in transportation service or an unreasonable increase in transportation cost or…substantially lessen competition.” That sounds like the White House backs the ‘Ocean Shipping Reform Act 2021’, which could flip demurrage charges from importers to the port or carrier: imagine if they were the ones facing massive bills, rather than massive profits. The carriers respond they are not to blame, and there is a shortage of trucks, chassis, truckers, rail, and warehouses. There is indeed – and truck drivers aside, they are also seeing vast profits by *not* investing more to resolve it. Welcome to capitalism.

The key point is we are not going to see a quick ‘return to normal’. A key fallacy of neoclassical economics is that ‘things mean revert’: covid has seen disruption to supply chains, so when Covid goes, supply chains will ‘revert’. But supply chains are complex, non-linear, dynamic systems with emergent –and political– properties. You can reach tipping points where they spiral upwards or downwards. If the US acts politically, the disruption could be deflationary, if shipping charges plunge, or inflationary, if carriers stop servicing US ports – and the US has no merchant marine to fill the gap. If the US does not act, we see structurally higher prices.

Now, this is not the same as y/y inflation rates. If the price of bread leaps from $1 to $2, that is 100% inflation. If it then goes up to $2.20, it is 10% inflation. If it then goes back to $2.10 it is deflation, as is going to $2.09 and $2.08 in following years. Yet anyone thinking that after a massive price spike, such ‘deflation’ means things are back to normal in a staple like bread needs their neoclassical head examined. In an actual complex, non-linear, dynamic system with emergent –and political—properties, wheat prices are soaring due to high fertilizer prices; most non-Russian oil exporters are major wheat importers, and want oil to move with wheat; and as oil moves higher, so does natural gas; and so does fertiliser; and then so does wheat. This system reverts with ‘Arab Springs’ among those who buy oil and wheat. Which is a segue to the financial economy’s tenuous relationship to the real one.

Bloomberg notes ‘Getting Inflation Right Is a Make-or-Break Trade on Wall Street’, which got inflation wrong this year by never having visited a warehouse or port. “After a three-decade hiatus, anxiety about rising consumer prices is testing the analytical skills of money managers and professional traders like nothing since the short-lived pandemic panic…For people working in finance, it’s a moment of extreme career risk – or a chance to be a hero to their bosses and their clients if they get it right. Many have never been here before.” Of course they haven’t. The last three episodes were 1948, when the US economy readjusted to post-WW2 demand vs. the shift from military to civilian production; the 1970’s oil shocks; and the pre-GFC commodity surge. Right now we have a mix of all three – with the caveat the US doesn’t have any civilian production.

Bond-meister Mohamed El-Erian on CNBC today argues while current inflationary pressure is led by deficient supply relative to demand, only part will likely prove transitory, while part may prove more persistent “due to longer-term structural changes in the economy…company after company is rewiring their supply chain to prioritize resilience over efficiency…US labor force participation is stuck at a low 61.6% even as unemployment benefits have expired, suggesting that people’s propensity to work may have changed…Survey-based inflation expectations are not well anchored; both short and long-term expectations compiled by the New York Federal Reserve have already risen above 4%. Companies are warning about inflationary pressures well into next year and potentially beyond.” He notes market-based expectations remain better anchored, but says this is distorted by the Fed. There is a very valid argument Fed QE has actually raised, not lowered yields via stimulus: but in the ECB’s case this is clearly the reverse with peripheral bonds – what if the Fed is now acting like the ECB, repressing yields, and what if it stops via tapering and rate hikes? El-Erian nonetheless argues the Fed has to do to so to deal with the non-transitory inflation pressures that are building.

I share this view not because it is gospel, but because it underlines what Bloomberg said: getting this right is make or break, “many have never been here before,” and it offers huge volatility and pain either way.

One wonders what the Fed Chair, whose name we should find out today, will think of an inflation dilemma which separates the wheat from the chaff. They will also note the CBO have scored the White House’s Build Back Better bill as adding $367bn to the federal deficit over time, as the legislation comes up for a vote.

If it fails, we move closer to a deflationary tipping point after an inflationary interregnum; if it passes, we add a $1.8 trillion stimulus on to a logistics network that can’t take it (and a Japanese promise of a record near $500bn package to boot): then we are really in Deep Ship. The two events may even be linked: if the BBB bill passes, I would wager Powell’s odds improve; if it fails, won’t the Democratic Progressives want some hope and change elsewhere, like the Fed?

Happy Friday.

end

7. OIL ISSUES

Oil crashes to 6 week lows

(zerohedge)

Oil Crashes To 6-Week Lows As COVID Crisis Re-Awakens

 
FRIDAY, NOV 19, 2021 – 07:50 AM

This was not supposed to happen!!

COVID cases are soaring exponentially higher across much of Europe, sparking lockdowns in Austria, Germany, Ireland, and calls for lockdowns in Italy and Greece (for now)…

Cases are also rising in the US, but dominated by ‘Blue’ states, so the messaging is likely more limited in the media…

However, the re-awakening of the COVID ‘Casedemic’ has sparked major concerns for investors, who have dramatically repriced ‘stay at home’ stocks relative to ‘reopening’ stocks in recent days…

Traditional safe-haven currency Swiss Franc has been soaring recently…

“As Covid spreads in Europe and restrictions are strengthened in places in Germany and Austria, there’s a general recognition that things may not be going the right way,” said Sebastien Galy, a macro strategist at Nordea Asset Management.

“This affects sentiment, both within markets and in households.”

This comes as stock valuations are at extremes, he added.

“We had a relief rally from earnings, but now people are concerned about what comes next.”

And that has, in turn, smashed into the energy complex as the spread of renewed lockdowns threatens the demand picture for oil. WTI reversed earlier gains this morning as Austria’s nationwide lockdown news hit, puking down to a $75 handle for the first time since early October…

Global benchmark Brent crude declined 3.4% and traded at $78.48, the lowest level since September.

Oil has been declining over the last week as demand forecasts have been pared back, OPEC and the IEA have warned of oversupply in the coming months and the US has attempted to coordinate an SPR release with China and others,” said Craig Erlam, senior market analyst at OANDA, in a note to clients.

“The market still remains fundamentally in a good position but lockdowns are now an obvious risk to this if other countries follow Austria’s lead,” Erlam said, adding that oil prices look more likely than a day ago to slide toward the mid-$70s region, especially if Germany announces similar measures.

end

8 EMERGING MARKET& AUSTRALIA ISSUES

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

AUSTRALIA

 
end

Euro/USA 1.1283 DOWN .00085 /EUROPE BOURSES //ALL RED

 

USA/ YEN 113.61  DOWN  0.659 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3433  DOWN   0.0064 

 

USA/CAN 1.2661  UP 0.0057  (  CDN DOLLAR  DOWN 57 BASIS PTS )

 

Early FRIDAY morning in Europe, the Euro IS DOWN by 85 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1283

Last night Shanghai COMPOSITE CLOSED UP 39.66 PTS OR 1.13%

 

//Hang Sang CLOSED DOWN 269.75 PTS OR 1.07% 

 

/AUSTRALIA CLOSED UP 0.22% // EUROPEAN BOURSES OPENED ALL RED

 

Trading from Europe and ASIA

EUROPEAN BOURSES ALL RED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 269.75 PTS OR  1.07%

 

/SHANGHAI CLOSED UP 39.66  PTS OR 1.13%

 

Australia BOURSE CLOSED UP 0.22%

Nikkei (Japan) CLOSED UP 147.21 POINTS OR 0.50% 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1862.20

silver:$24.76-

Early FRIDAY morning USA 10 year bond yr: 1.522% !!! DOWN 9 IN POINTS from THURSDAY night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.924 DOWN 9  IN BASIS POINTS from THURSDAY night.

USA dollar index early FRIDAY morning: 96,02  UP 48  CENT(S) from THURSDAY’s close.

This ends early morning numbers FRIDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  FRIDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.30%  DOWN 5  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.079% DOWN 5/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.39%// DOWN 6  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.86  DOWN 7    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 47 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –..340% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.20% 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 FRIDAY

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

Euro/USA 1.1317  DOWN .0051    or 51 basis points

USA/Japan: 113.80  DOWN .484 OR YEN UP 48  basis points/

Great Britain/USA 1.3469 DOWN .0029// DOWN  29   BASIS POINTS)

Canadian dollar DOWN 29 basis points to 1.2633

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED DOWN)..6.3872  

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)..6.3861

TURKISH LIRA:  11.20  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.079%

Your closing 10 yr US bond yield DOWN 8 IN basis points from THURSDAY at 1.527 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.910-  DOWN 9 in basis points on the day

Your closing USA dollar index, 95,83 UP 29   CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 28.32 PTS OR 0.39% 

 

German Dax :  CLOSED DOWN 47.56 PTS OR 0.29% 

 

Paris CAC CLOSED DOWN  24.20 PTS OR  0.34% 

 

Spain IBEX CLOSED  DOWN 138.50  PTS OR 1.56%

Italian MIB: CLOSED DOWN 313.98 PTS OR 1.14% 

 

WTI Oil price; 75.47 12:00  PM  EST

Brent Oil: 78.26 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    73.44  THE CROSS HIGHER BY 0.34 RUBLES/DOLLAR (RUBLE LOWER BY 34 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.340 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 :  78.39

USA 10 YR BOND YIELD: … 1.539..DOWN 7  basis points…

USA 30 YR BOND YIELD: 1.909 DOWN 7  basis points..

EURO/USA 1.1289 DOWN 0.0078   ( 78 BASIS POINTS)

USA/JAPANESE YEN:113.98 DOWN  0.297 ( YEN UP 30 BASIS POINTS/..

USA DOLLAR INDEX: 96.02 UP 47  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3442 DOWN .0054  

the Turkish lira close: 11.25  DOWN 16 BASIS PTS//HUGE LOSS

the Russian rouble 73.46  DOWN 36  Roubles against the uSA dollar. (DOWN 46 BASIS POINTS)

Canadian dollar:  1.2649 UP 45 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.340%

The Dow closed DOWN 268.97 POINTS OR 0.75%

NASDAQ closed UP 63.73 POINTS OR 0.40%

VOLATILITY INDEX:  18.19 CLOSE UP  0.60

LIBOR 3 MONTH DURATION: 0.1590

 

%//libor dropping like a stone

USA trading day in Graph Form

‘Recovery’ Bets Battered, Crude & Crypto Crushed As COVID Crisis Goes To ’11’

 
FRIDAY, NOV 19, 2021 – 04:00 PM

The week’s price action across almost every market was dominated by one theme – COVID! As lockdowns spread across Europe and cases surge in US Blue states, fears about the ‘recovery’ are roaring back…

WTF chart of the day… European COVID cases went to ’11’…

Source: Bloomberg

And that theme drove a huge wedge in US stocks this week with Small Caps and The Dow down while S&P and Nasdaq rallied. Boeing took 90 points off The Dow today…

The 5% spread between Nasdaq and Small Caps this week was the biggest weekly divergence since Sept 2020. Nasdaq is back its richest relative to Russell 2000 since Nov 2020 (vaccines/election)…

Source: Bloomberg

Value stocks underperformed Growth by almost 4% this week – the biggest weekly spread since June – pushing Value to its cheapest relative to Growth ever…

Source: Bloomberg

“Recovery” stocks were monkeyhammered this week relative to “Stay at Home” stocks (as COVID chaos sweeps across the world again). ‘Recovery’ is down 4 of the last 5 weeks relative to ‘stay home’, and down to its lowest since January’s scare…

Source: Bloomberg

Cyclicals outperformed Defensives on the week but both closed lower…

Source: Bloomberg

“Most Shorted” stocks tumbled for the second straight week (biggest weekly drop since July)…

Source: Bloomberg

After some volatility earlier in the week, US Treasury yields ended the week lower (down around 1-2bps across the entire curve)…

Source: Bloomberg

The COVID chaos sparked the biggest drop in 2-year Treasury yields since March 2020 but as the day wore on, the German health minister denied nationwide lockdown and that sparked a brief respite but it was Fed Vice-Chair Clarida that sent yields higher again. The 2Y Yield ended the day unchanged…

Source: Bloomberg

And Clarida’s comments erased all the earlier dovishness from STIRs…

Source: Bloomberg

The 30Y yield did not bounce, in fact, signaling more policy-error fears with a big curve flattening…

Source: Bloomberg

Erasing all the curve steepening from early in the week…

Source: Bloomberg

The dollar rallied for a 4th straight week, closing at its highest since September 2020…

Source: Bloomberg

Thanks to a decent bounce back today, this week’s crypto carnage doesn’t look quite as bad. BTC and ETH ended the week down around 9%…

Source: Bloomberg

Bitcoin broke below $60k but managed to bounce back above $58k today…

Source: Bloomberg

Ethereum bounced up to $4300 off the $4000 support…

Source: Bloomberg

 

Dollar strength, and recovery fears, sent commodities lower on the week…

Source: Bloomberg

WTI traded down near a $74 handle intraday – its lowest in 6 weeks…

Rounding top-like pattern this week in the yellow metal, but gold is holding well above $1800 still…

Finally, some potential good news for the average American. As gas-prices-at-the-pump always lag the supply chain from crude to wholesale to retail, the recent tumble in WTI and RBOB suggest gas prices are set to tumble in the next few weeks…

Source: Bloomberg

We wonder if Biden will take a victory lap?

END

i)  MORNING TRADING//

end

EARLY AFTERNOOON

Dollar & Bond Yields Spike After Clarida’s Hawkish Taper Comments

 
FRIDAY, NOV 19, 2021 – 12:53 PM

Fed Vice Chair Richard Clarida said it may be appropriate for policy makers to discuss next month whether to speed up the tapering of bond buying after inflation surged and job gains picked up.

“I’ll be looking closely at the data that we get between now and the December meeting,” Clarida said in response to questions during a virtual event Friday.

Clarida warned that there is upside risk to inflation.

That was enough to send 2Y Yields soaring

and the dollar spiked…

And this just as the market was starting to reprice its hawkishness due to the reawakened COVID crisis…

We wonder what kind of quid pro quo Powell being asked for to continue his term?

ii)  USA///DEBT

 

USA DATA

end

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

b) USA COVID/VACCINE UPDATES//VACCINE MANDATES

A must read..

The Whiteheads

iii) important USA economic stories

It begins: the house debates the huge $1.75 trillion pkg.  McCarthy talks for hours delaying the House vote.

 

(zerohedge) 

iv) Swamp commentaries/

end

Correct decision!!

Kyle Rittenhouse Acquitted On All Charges

 
FRIDAY, NOV 19, 2021 – 01:14 PM

Kyle Rittenhouse has been acquitted on all charges related to last year’s shooting in Kenosha, Wisconsin.

The 18-year-old was charged with five felonies; first-degree intentional homicide, first-degree reckless homicide, attempted first-degree intentional homicide, and two counts of first-degree recklessly endangering safety.

Rittenhouse hugged his attorney after the verdict was read.

The jury reached their decision after four days of deliberations, which lasted longer than anyone – including Judge Bruce Schroeder, had expected. It came amid two mistrial requests from the defense over high-definition video evidence which was withheld – possibly unintentionally – by the prosecution. Rittenhouse’s attorneys claimed that an inferior copy of a potentially crucial video could have affected their defense.

Prosecutors were visibly crestfallen after the verdict was read.

On Thursday, a juror asked Schroeder if she could take the jury instructions home, which was granted. The jury also asked to review the drone footage that was a ‘linchpin’ in the prosecution’s case, as well as the best views of all the shootings compiled from six video clips.

Rittenhouse, now 18, shot and killed two men who were pursuing him and injured a third during the 2020 riots in Kenosha. The former police youth cadet faces life in prison if convicted of the most serious charge against him.

Via the Daily Mail

On Thursday, Judge Schroeder banned MSNBC from the courthouse after a freelance employee was pulled over after running a red light while following the jury bus. The network acknowledged that the man was an employee, but said he “never photographed or intended to photograph them.”

And cue the riots…

 

 

end

“F**k This Murderer”: Left Becomes Unhinged After Rittenhouse Acquitted

 
FRIDAY, NOV 19, 2021 – 03:20 PM

Moments after a Kenosha, Wisconsin jury acquitted 18-year-old Kyle Rittenhouse on all charges related to the August 2020 self-defense shooting of three men, two fatally, leftists took to Twitter to spew venom at the teenager.

“This heartbreaking verdict is a miscarriage of justice,” tweeted Rep. Jerry Nadler (D-NY), who also thinks Antifa is a ‘myth.’

Rep. Cori Bush (D-MO) called Rittenhouse a “white supremacist,” saying the verdict was “white supremacy in action” despite the fact that everyone involved in the shooting was white. 

New York City Mayor Bill de Blasio tweeted “We can’t let this go. We need stronger laws to stop violent extremism from within our own nation,” adding “now is the time” – leading many to accuse him of incitement.

Keith Olbermann was predictably unhinged, tweeting “Fuck this murderer.”

The ACLU tweeted that “Despite Kyle Rittenhouse’s conscious decision to travel across state lines and injure one person and take the lives of two people protesting the shooting of Jacob Blake by police, he was not held responsible for his actions,” adding “Unfortunately, this is not surprising.”

The Southern Poverty Law Center wasn’t far behind.

MSNBC’s Joy-Ann Reid wanted followers to “spare a thought” for the families of the dead criminals who attacked Kyle, and said that the judge was the “13th juror.”

More:

A reminder of just how stacked the deck was against Rittenhouse – starting with the current POTUS calling him a white supremacist:

And of course, the media has no bias – right?

end

very damning!!

The New York Times Held Back Story On Kenosha Riot Damage Until After 2020 Election

 
FRIDAY, NOV 19, 2021 – 08:46 AM

Former New York Times contributor Nellie Bowles’ has relayed a disturbing accountof an incident at America’s ‘paper of record’ concerning coverage of the riots in Kenosha, Wisconsin following the August 2020 police shooting of Jacob Blake – where during just one evening of ‘protests,’ the Kenosha Fire Department responded to 37 fires, multiple shootings, assaults, and other acts of vandalism.

A protester in front of a burning truck in Kenosha, Wisconsin during unrest following the police shooting of Jacob Blake (EPA)

In her “TGIF” newsletter (which can be read at Bari Weiss’ substack here), Bowles explains how she traveled to Kenosha to cover the riots – and in particular to see whether the prevailing Democratic narrative that the destruction was “both good and healthy” for promoting racial justice was true (it wasn’t).

After writing a sobering take on how the riots devastated small businesses – many owned by minorities who would have little chance of recovering, the Times refused to publish it until after the 2020 US election. In fact, they ran it less than a week later.

Perhaps her coverage was a bit too… damning?

On the burned-out blocks hit by unrest since the killing George Floyd, an unarmed Black man, in Minneapolis in late spring, the reality is complicated. Mr. Floyd’s death was the start of months of protests for racial justice led by the Black Lives Matter movement that have left long-term economic damage, especially in lower-income business districts.

While large chains like Walmart and Best Buy have excellent insurance, many small businesses that have been burned down in the riots lack similar coverage. And for them, there is no easy way to replace all that they lost.

In Kenosha, more than 35 small businesses were destroyed, and around 80 were damaged, according to the city’s business association. Almost all are locally owned and many are underinsured or struggling to manage. –NYT

Bowles went deep – interviewing several affected small business owners who conveyed their “broadly felt” pain as a result of the riots – with much of the damage being committed by “white protesters destroying property in the name of Black Lives,” according to a local shop owner. “It’s some blue-haired, latte-drinking hippie in Seattle coming here to raise hell while they go home to their nice beds,” said the victim, adding “They don’t care about any of us.”

Not a good look for the racial justice movement, or Democrats in general who might be forced to address an uncomfortable truth on their side of the aisle right before an election.

The Times gave Bowles the runaround as to why they didn’t run the piece when she filed it – which we can only assume was meant to help Biden win. Read below for her first-hand account.

Authored by Nellie Bowles via Common Sense with Bari Weiss (emphasis ours),

A note on Kenosha in light of the Kyle Rittenhouse trial: Until quite recently, the mainstream liberal argument was that burning down businesses for racial justice was both good and healthy. Burnings allowed for the expression of righteous rage, and the businesses all had insurance to rebuild. 

When I was at the New York Times, I went to Kenosha to see about this, and it turned out to be not true. The part of Kenosha that people burned in the riots was the poor, multi-racial commercial district, full of small, underinsured cell phone shops and car lots. It was very sad to see and to hear from people who had suffered. Beyond the financial loss, small storefronts are quite meaningful to their owners and communities, which continuously baffles the Zoom-class.

Something odd happened with that story after I filed it. It didn’t run. It sat and sat.

Now it could be that the piece was just bad. I’ve sent in bad ones before, and I’ll do it again. A few weeks after I filed, an editor told me: The Times wouldn’t be able to run my Kenosha insurance debacle piece until after the 2020 election, so sorry.

There were a variety of reasons given—space, timing, tweaks here or there.

Eventually the election passed. Biden was in the White House. And my Kenosha story ran. Whatever the reason for holding the piece, covering the suffering after the riots was not a priority. The reality that brought Kyle Rittenhouse into the streets was one we reporters were meant to ignore. The old man who tried to put out a blaze at a Kenosha store had his jaw broken. The top editor of the Philadelphia Inquirer had to resign in June 2020 amid staff outcry for publishing a piece with the headline, “Buildings Matter, Too.” 

If you lived in those neighborhoods on fire, you were not supposed to get an extinguisher. The proper response — the only acceptable response — was to see the brick and mortar torn down, to watch the fires burn and to say: thank you.

*  *  *

(h/t Mark Hemingway)

end
 

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

he King Report November 19, 2021 Issue 6640 Independent View of the News
 U.S. jobless claims total 268,000, about as expected
Initial filings for the week ended Nov. 13, totaled 268,000, a decline of 1,000 from a week ago and slightly higher than the Dow Jones estimate for 260,000…Continuing claims, which run a week behind the headline number, declined by 129,000 to 2.08 million, also a pandemic-era low dating back to March 14, 2020… https://www.cnbc.com/2021/11/18/us-jobless-claims.html

 

Pfizer, US ink $5.29B deal for possible COVID-19 treatment (pills)
The U.S. government will pay drugmaker Pfizer $5.29 billion for 10 million treatment courses of its potential COVID-19 treatment if regulators authorize it…The price for Pfizer’s potential treatment amounts to about $529 per course. The U.S. has already agreed to pay roughly $700 per course of Merck’s drug for about 1.7 million treatments…
https://wgntv.com/news/coronavirus/pfizer-us-ink-5-29b-deal-for-possible-covid-19-treatment/

Nasdaq futures boosted by tech demand, Nvidia earnings   http://reut.rs/3co9LUa

 
Dems privately questioning Powell on how he’ll address inflation
Inflation has become an increasingly political issue in recent months… https://trib.al/SwymsjD

 

Chicago Fed President Evans: “We are looking at some pretty substantial increases in labor costs.”

Fed’s Williams defends central bank’s new average inflation targeting policy from criticism
In the fall of 2019, well before the pandemic, the Fed adopted a strategy, called “flexible average inflation targeting” to allow for inflation “overshoots.”… As inflation has soared these year, criticism of the Fed’s new strategy has also risen. Consumer price rises are now running above 6%, the strongest level in 30 years.  In a column Thursday, Martin Wolf, the noted economic correspondent at the Financial Times, called the Fed’s new framework nonsense.  “It has never made sense to me that the world’s leading central bank should respond to its past failures by deliberately making opposite mistakes in future,” Wolf wrote…This time, central bankers are making excuses for inflation, calling it transitory and saying it will go away, he added…
    Williams said the Fed is dealing with “a very unique set of circumstances…I do think our framework is well suited for this because it does start from this point that we really want to make sure inflation expectations are well anchored at 2%,” he said…   https://www.msn.com/en-us/money/markets/fed-s-williams-defends-central-bank-s-new-average-inflation-targeting-policy-from-criticism/ar-AAQRQjZ

NY Fed President Williams on Friday, BBG headlines 10:00 ET to 10:07 ET

  • Seeing Broader-Based Increases in Inflation
  • Seeing Pickup in Short, Medium-Term Price Expectations
  • Underlying Inflation in U.S. Has Picked UP
  • Don’t’ want to See Long-Run Price expectations Up Significantly
  • Very Hard to Measure Natural Rate of Interest

Williams is being disingenuous.  It’s a Fed obligation to determine the nature rate of interest. Williams is trying to mitigate Fed culpability for record negative interest rates and soaring inflation.  For decades, the accepted definition of ‘the nature rate of interest’ has used inflation as a main determinant.  Before central bank activism, when they were ‘lenders of last resort’, the classical definition of ‘the natural/neutral rate of interest’ was the rate of interest at which borrowers and lenders are in equilibrium.

You can imagine how high interest rates would need to jump to balance savers with borrowers.  Think of the US federal, state, and local governments, private equity, hedge funds, big banks, Street customers, traders of all classes, non-financial debtors, and households vying for funding!

The SF Fed: The Natural Rate of Interest
Economists generally focus on real interest rates… In this Letter, the natural rate is defined to be the real fed funds rate consistent with real GDP equaling its potential level… Thus, the natural rate of interest is the real fed funds rate consistent with stable inflation absent shocks to demand and supply
https://www.frbsf.org/economic-research/publications/economic-letter/2003/october/the-natural-rate-of-interest/

The IMF: The Long Economic Hangover of Pandemics   June 2020
History shows COVID-19’s economic fallout may be with us for decades
    As governments engage in large-scale counter-pandemic fiscal programs, it is important to understand what the economic landscape will look like in the years and decades to come. That landscape will shape monetary and fiscal policy in ways that are not yet fully understood.  A look at previous pandemics, going back to the Black Death in the 1300s, can help fill this gap by shedding light on their medium- to long-term economic effects…
   Economists speak of the natural, or neutral, rate of interest as the equilibrium level that would keep the economy growing at its potential rate with stable inflation. In the long run, the relative demand and supply of loanable funds by savers and borrowers determine the natural rate…
https://www.imf.org/external/pubs/ft/fandd/2020/06/long-term-economic-impact-of-pandemics-jorda.htm

The BIS: What anchors for the natural rate of interest?  March 2019
The interest rate is of immense importance in today’s highly financialised economy. It underpins borrowing and lending, thus acting as a speed regulator for activity. Ensuring that interest rates are at “appropriate” levels – a task largely delegated to central banks – is critical.  In making this judgment, the natural or equilibrium interest rate serves as the key benchmark in mainstream monetary policy analysis. This notional rate, a purely theoretical construct, is defined as the real (inflation-adjusted) interest rate that would prevail when actual output equals potential output. The evolution of this rate is seen as driven by changes in underlying saving-investment determinants…
The main takeaway from this analysis is that the natural rate of interest has a couple of limitationsas a monetary policy guidepost. First, as traditionally postulated, the definition of the concept neglects the state of the financial cycle and, as such, underestimates the role that monetary policy regimes may play. Put differently, a given real interest rate cannot be an equilibrium one if it generates costly boom-bust cycles, with persistent, if not long-run, effects on output. Second, the fact that the natural rate may be endogenous to monetary policy over the relevant policy horizon compromises its ability to act as a policy anchor. As a result, monetary policy may fail to take into account the collateral damage that comes from an unhinged financial cycle…
The experience of the classical gold standard is especially noteworthy. During this regime, central banks did not vary interest rates systematically with output and inflation as they do now. They simply tended to keep nominal interest rates constant unless the convertibility-into gold constraint came under threat (eg Flandreau (2008)).  Gold acted as a monetary anchor, but only over very long horizons. Still, inflation remained very much range-bound, with the price level gradually falling or rising over long periods. As a result, nominal and real interest rates were remarkably stable and did not deviate much from each other (Graph 4)… https://www.bis.org/publ/work777.pdf

The Fed Balance Sheet: +$11.853B  https://www.federalreserve.gov/releases/h41/20211118/

 

CBO says Democrat social spending bill to grow deficit by $367 billion, undercutting Biden claim
https://justthenews.com/government/congress/cbo-estimates-bidens-build-back-better-act-will-increase-deficit-367-billion

“You can’t fool all the people all the time,” but you can fool enough of them to rule a large country.”
― Will Durant, The Lessons of History

 

Voters increasingly think Biden not mentally or physically fit for office, poll finds
According to a poll from Politico/Morning Consult, just 40% of voters agreed that the president “is in good health,” 50% disagreed. The 10-percentage-point gap represents a 29-point shift since just over a year ago, when voters, by a 19-point margin believed Biden to be in good health…
https://justthenews.com/government/white-house/more-voters-think-biden-not-mentally-physically-fit-office-do-poll

More Prefer Republicans to Win Control of The House and Senate, Quinnipiac University (left leaning) National Poll Finds; 68% Say Higher Prices Are Changing Spending Habits
Americans give President Biden a negative 36 – 53 percent job approval rating…Among registered voters, Biden gets a negative 38 – 53 percent job approval rating…Roughly 6 in 10 Americans (61 percent) say the nation’s economy is getter worse, 21 percent say it’s staying about the same, and 16 percent say it’s getting better… Nearly 7 in 10 Americans (68 percent) say increased prices for things such as food and gasoline have caused them to change their spending habits…
https://poll.qu.edu/poll-release?releaseid=3827&s=02

@LisaMarieBoothe: Imagine if the media gave Biden the Trump treatment. Biden would be at 10%.

Biden skips traditional press conference with Trudeau and Obrador (People can surmise why)
Psaki blamed the lack of a press conference on a “change of schedule,”…
https://www.cbsnews.com/news/biden-skips-press-conference-trudeau-obrador/?ftag=CNM-00-10aab7e&linkId=140712467

@Liz_Wheeler: (Florida Gov) DeSantis is going to Brandon, FL today to sign bills banning Biden’s vaxx mandate hahahahahahahaha

@globaltimesnews China state-affiliated media: China and Russia held a human rights and democracy forum ahead of a US democracy summit, which observers said was a good opportunity to show that the meaning of the shared values of humanity is not decided by the West.

@Jkylebass: Hitler and Stalin held a human rights conference in 1937! It’s truly remarkable that we allow Chinese state-owned media to propagate this nonsense in the West. What a complete bag of $&@!

@disclosetv: Person reportedly followed a Rittenhouse juror home and was arrested by Kenosha police… Person allegedly from NBC/MSNBC was instructed to follow the jury bus in the Rittenhouse trial. Judge orders to exclude the two news outlets from the trial pending further investigation.

@JackPosobiec: Judge Schroeder says the reporter who was taken into custody was James J Morrison and he claimed to be working for Irene Byon of NBC in New York.  On LinkedIn, there is an Irene Byon who lists herself as an NBC producer in New York

@JonathanTurley: The seriousness of this incident cannot be overstated. It is not simply because the police suspected MSNBC was trying to take their pictures. If the jurors believed that they were being followed, it could add to their unease about voting in the case

@MorningAnswer: Clinical Professor of Law and Director… at Cornell Law School, William Jacobson: The media framed Kyle Rittenhouse — and won’t come clean. https://t.co/KtxG0H6De9

@charliekirk11: MSNBC is stalking jurors in the Kyle Rittenhouse trial.  Where is the Justice Department? Too busy stalking parents?

@drboycewatkins1: White kid shoots white protestors – everyone’s on the edge of their seat.
One black man killed by hillbillies – everyone’s outraged.
Dozens of black children killed in Chicago, Philly, & LA every week – Crickets.
That’s why we’re losing the game of racial justice.

@ggreenwald: Here’s the Columbia Journalism Review with an article on how the collapse of the Steele Dossier is an indictment of the entire media, not just a few scapegoats https://t.co/YDNyTvNiCV

DOJ Watchdog: Dept. Must Do More to Disprove Appearance of Political Bias
https://conservativebrief.com/doj-watchdog-54815/?utm_source=CB&utm_medium=JE

Two Iranians charged with cyber intimidation campaign targeting voters, Republicans in 2020
Iranian hackers accused of posing as extremist Proud Boys group members, targeting Trump campaign, GOP members of Congress and Democrat voters.
https://justthenews.com/politics-policy/elections/two-iranians-charged-cyber-intimidation-campaign-targeting-voters

 
end
 
 
 
Let us wrap up the week as always with this offering courtesy of Greg Hunter
This is a must view… 
 

CV19 Vax Wearing Off, OSHA Calling Off Mandates, Inflation Keeps On | Greg Hunter’s USAWatchdog

 
 

CV19 Vax Wearing Off, OSHA Calling Off Mandates, Inflation Keeps On

By Greg Hunter’s USAWatchdog.com(WNW 504 11.19.21)

Dr. Tony Fauci is warning the CV19 vax is wearing off, and says a third booster shot is “absolutely essential.”  What happened to “fully vaccinated” after shots from Pfizer, Moderna and J&J?  I guess “fully vaccinated” is a moving target or simply a lie and confirmation the shots do not work to stop Covid.  Bill Gates said similar things recently too.  I told you the narrative was unwinding, and it is and they know it.  This is the backdrop, and they still want you to be forced to get vaxed with an experimental drug.  mRNA pioneer Dr. Robert Malone calls this the biggest human drug trial in history.  What could go wrong?  Look at the data, and plenty has gone wrong with deadly and debilitating  events in the millions from the CV19 inoculations.  “Stop the Shots.”  Is President Trump listening?

There is good news on the vax mandate front.  The Fifth Circuit Federal Court has called the Biden vax mandate for CV19 shots unconstitutional, and OSHA has suspended implementation of the mandates.  The Fifth Circuit Court ripped to pieces the OHSA “Emergency Temporary Standard” (ETS) and basically said it was an overreach in a very big way.  Does this case make it to the Supreme Court?

There is some consensus that the Federal Reserve is making a huge policy mistake by keeping the easy money flowing and interest rates suppressed.  It all comes down to one very nasty word in the financial circles — inflation.  It is not “transitory” as the Fed says, and many think it is not just here to stay, but it’s getting worse and could destroy the real estate market, the bond market and the stock market all at the same time.  Former Treasury Secretary Larry Summers is sounding the alarm, and he is a big-time Democrat.  If he’s warning, you know it’s bad.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and much more in the Weekly News Wrap-Up. (11/19/21)

CV19 Vax Wearing Off, OSHA Calling Off Mandates, Inflation Keeps On | Greg Hunter’s USAWatchdog

 
 

After the Interview:

Renowned radio personality, filmmaker and book author Steve Quayle will be the guest for the Saturday Night Post.  He will talk about his new movie called “Mega-Drought: The Annihilation of the Human Race Accelerates.”The movie title says it all, and Quayle will explain in detail.

 

 
end
 
Well that is all for today
 
 

I will see you MONDAY night.

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