NOV24/GOLD STABLE IN PRICE AHEAD OF LBMA/BIS OPTIONS EXPIRY ON NOV 03//GOLD PRICE RISES 40 CENTS TO $1784.65//SILVER RISES BY 5 CENTS TO $23.47//GOLD TONNAGE STANDING FOR NOVEMBER RISES TO 7.50 TONNES//SILVER OZ STANDING FOR NOV RISES TO 8.045 MILLION OZ//COVID COMMENTARIES//VACCINE MANDATE TALES: THE BIG STORY OUT THERE AND WORTH REPEATING IS THE PEER REMOVED JOURNAL OF CIRCULATION REPORT ON THE HARM CAUSES BY THE VACCINES//COVID DEATHS IN 2021 SURPASS COVID DEATHS IN 2020 DESPITE THE HUGE VACCINATIONS ( I WONDER WHY?)//THIS YEAR WE HAVE A 5,000% INCREASE IN DEATHS OF SOCCER PLAYERS//TOM LUONGO ON THE VACCINE MANDATES IN EUROPE//TURKEY INFLATION RAMPANT!!//KAMALA HARRIS ON WHY THERE IS INFLATION: HER ANSWER: PRICES ARE GOING UP//SWAMP STORIES FOR YOU TONIGHT///

 

GOLD:$1784.65 UP $0.40   The quote is London spot price

Silver:$23.47  UP  5  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1789.00
 
silver:  $23.59
 
 
 
 

 

 
 

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

 

 

PLATINUM  $980.05 UP  $6.40

PALLADIUM: $1854.30 DOWN $18.35/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 219/249

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,783.500000000 USD
INTENT DATE: 11/23/2021 DELIVERY DATE: 11/26/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 2
363 H WELLS FARGO SEC 1
435 H SCOTIA CAPITAL 11
657 C MORGAN STANLEY 2
661 C JP MORGAN 20 219
661 H JP MORGAN 206
732 C RBC CAP MARKETS 16
905 C ADM 21
____________________________________________________________________________________________

TOTAL: 249 249
MONTH TO DATE: 2,339

Goldman Sachs stopped: 2

 

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 249 NOTICE(S) FOR 24,900 OZ  (0.7745 tonnes)  

 

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  2339 FOR 233,900 OZ  (7.2750 TONNES) 

 

SILVER//NOV CONTRACT

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

total number of notices filed so far this month 1608  :  for 8,040,000  oz

 

BITCOIN MORNING QUOTE  

no accurate reporting of price

 

BITCOIN AFTERNOON QUOTE.:

 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD UP $0.40 AND NO PHYSICAL TO BE FOUND ANYWHERE:

NO CHANGES IN GOLD INVENTORY AT THE GLD:

 

 

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

 

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

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

THIS IS A MASSIVE FRAUD!!

GLD  991 ,11 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 5 CENTS

NO CHANGES  IN SILVER INVENTORY AT THE SLV: 

 

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

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

INVENTORY RESTS AT: 

 

547.261  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 167.12  DOWN 0.16 OR 0.096%

XXXXXXXXXXXXX

SLV closing price NYSE 21.79 DOWN. 0.13 OR  0.595%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI FELL BY A STRONG 3285 CONTRACTS TO 149,642, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. WITH OUR $0.81 LOSS IN SILVER PRICING AT THE COMEX ON TUESDAY OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN) )(IT FELL BY $0.81 BUT WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A MINISCULE GAIN OF 1 CONTRACT 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 20,000 OZ   / v), STRONG SIZED COMEX OI LOSS
 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS -911
 
 
 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
NOV
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:
 
20,392 CONTACTS  for 18 days, total 20,392 contracts or 101.980million oz…average per day:  113.28 contracts or 5.664 million oz per day.

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

NOV:  101.980 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 DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 3285 WITH OUR 81 CENT LOSS SILVER PRICING AT THE COMEX// TUESDAY.
 
THE CME NOTIFIED US THAT WE HAD A  STRONG SIZED EFP ISSUANCE OF 3286 CONTRACTS( 0 CONTRACTS ISSUED FOR NOV AND 3286 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 20,000 OZ . WE HAD A TINY SIZED GAIN OF 1 OI CONTRACT ON THE TWO EXCHANGES. NOBODY LEFT THE SILVER ARENA.
 
 
 
 
 

WE HAD 44 NOTICES FILED TODAY FOR 220,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A HUMONGOUS SIZED 17,191  CONTRACTS TO 559,823 ,,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: — 1284  CONTRACTS.

THE STRONG SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $21.85//COMEX GOLD TRADING//TUESDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR STRONG SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD HUGE LONG LIQUIDATION  AS THE TOTAL LOSS ON OUR TWO EXCHANGES TOTALED A STRONG SIZED 11,119 CONTRACTS…..  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 1.444 TONNES, FOLLOWED BY TODAY’S QUEUE JUMP  OF 23,300 OZ//NEW STANDING 241,200 OZ (7.5023 TONNES) 
 
 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $21.85 WITH RESPECT TO TUESDAY’S TRADING

 

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

WE HAD  A STRONG SIZED LOSS OF 11,119  OI CONTRACTS (34.58 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCETHE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 6072CONTRACTS:

FOR DEC 6072  ALL OTHER MONTHS ZERO//TOTAL: 6072 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 559,823. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A STRONG  SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES  OF 11,116 CONTRACTS: 17,191 CONTRACTS DECREASED AT THE COMEX AND 6072 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 11,119 CONTRACTS OR 34.58 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (6072) ACCOMPANYING THE HUGE SIZED LOSS IN COMEX OI (17,191 OI): TOTAL LOSS IN THE TWO EXCHANGES: 11,119 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 23,300 OZ  3)HUGE LONG LIQUIDATION,4) HUGE SIZED COMEX OI LOSS 5). STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL 

SPREADING OPERATIONS(/NOW SWITCHING TO GOLD)

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

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

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

 

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

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

 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

NOV

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV : 86,452, CONTRACTS OR 8,645,200 oz OR 268.90 TONNES (18 TRADING DAY(S) AND THUS AVERAGING: 4802 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 18 TRADING DAY(S) IN  TONNES: 268.90 TONNES

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

THUS EFP TRANSFERS REPRESENTS  268.90/3550 x 100% TONNES  7.54% 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:           268.90 TONNES INITIAL ISSUANCE (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//CLOSING IN ON MARCH 2021 RECORD OF 276.50 TONNES

 

 

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

 

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 3285 CONTRACTS TO 150,553AND  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 3286 CONTRACTS

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

DEC 805  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  3286 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 3285 CONTRACTS AND ADD TO THE 3286 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A  MINISCULE SIZED GAIN OF 1 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 0.00 MILLION  OZ, OCCURRED WITH OUR  $0.81 LOSS IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 
 

3. ASIAN AFFAIRS

i) WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED UP 3.61 PTS OR  0.10%     //Hang Sang CLOSED UP 33,92 PTS OR 0.14% /The Nikkei closed DOWN 471.45 PTS OR 1.58%     //Australia’s all ordinaires CLOSED DOWN 0.21%

/Chinese yuan (ONSHORE) closed UP  6.3882   /Oil UP TO 78.61 dollars per barrel for WTI and UP TO 82.11 for Brent. Stocks in Europe OPENED  ALL MIXED  /ONSHORE YUAN CLOSED  UP AT 6.3882 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3925/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 
 
 
 
 
 
 
 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A HUGE SIZED 17,191 CONTRACTS TO 559,823 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 $21.85 IN GOLD PRICING  TUESDAY’S COMEX TRADING.WE ALSO HAD A STRONG EFP ISSUANCE (6072 CONTRACTS). …AS THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. LOOKS LIKE OUR BANKERS ARE FINALLY BAILING OUT!!

 

WE NORMALLY HAVE WITNESSED  EXCHANGE FOR PHYSICALS ISSUED BEING SMALL AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS. IT SEEMS THAT ARE BANKERS FRIENDS ARE EXERCISING EFP’S FROM LONDON AND NOW THEY ARE LOATHE TO ISSUE NEW ONES.  

 

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT   0

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW MOVING TO THE NON ACTIVE DELIVERY MONTH OF NOV..  THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 6072 EFP CONTRACTS WERE ISSUED:  ;: ,  NOV  :  & DEC. 6072 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:   6072 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 GOOD SIZED 11,119  TOTAL CONTRACTS IN THAT 6072 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A GIGANTIC SIZED COMEX OI OF 17,191 CONTRACTS..WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR NOV   (7.5023),

 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 $21.85)

AND THEY WERE SUCCESSFUL IN FLEECING HUGE NUMBERS OF LONGS AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED A GIGANTIC 34.58 TONNES,ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR NOV (7.5023 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 -1284   CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET LOSS ON THE TWO EXCHANGES :: 11,119 CONTRACTS OR 1,111,900 OZ OR  34.58 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:  559,823 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 55.98 MILLION OZ/32,150 OZ PER TONNE =  17.41 TONNES

THE COMEX OPEN INTEREST REPRESENTS 17.41/2200 OR 79,14% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY 297,656 contracts//    / volume//volume fair///

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 475,715 contracts//strong/raid

 

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

 

NOV 24

 

/2021

 
INITIAL STANDINGS FOR NOV COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
32.151
OZ
Brinks
1 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
nil
OZ
 
 
 
 
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
160,755.000
 
oz
JPMorgan
5,000 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
249  notice(s)
24,900 OZ
0.7745 TONNES
No of oz to be served (notices)
73 contracts 7300 oz
.2270 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
2339 notices
 
233,900 OZ
7.2752 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  0 deposit into the customer account
 
 
TOTAL CUSTOMER DEPOSITS NIL oz
 
 
 
We have 1  customer withdrawals
Out of Brinks/customer:  32.15 oz 1 kilobar
 
TOTAL CUSTOMER WITHDRAWALS 32.15 oz
 
 
 
 
 

We had 2  kilobar transactions 2 out of  4 transactions)

ADJUSTMENTS  2// 

customer to dealer JPMorgan:   228,021.091 oz

dealer to customer Brinks:  394.299 oz

 
 
For the front month of November we had an open interest of 322 contracts having GAINED 220 contracts on the day.
 
We had 13 notices served on TUESDAY so we GAINED 233 contracts or an additional 23,300 oz will  stand for delivery for this very non active delivery month
 
 
 
 
 
 
 
 
 
.
DEC LOST 49,904 CONTRACTS  TO STAND AT 94,890/  WE HAVE 3 MORE READING DAYS BEFORE FDN.
JANUARY GAINED 336 CONTRACTS TO STAND AT 1030
 

We had 249 notice(s) filed today for  24,900  oz

FOR THE NOV 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 20 notices were issued from their client or customer account. The total of all issuance by all participants equates to 249  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 219 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 2  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 (2339) x 100 oz , to which we add the difference between the open interest for the front month of  (NOV: 322 CONTRACTS ) minus the number of notices served upon today  249 x 100 oz per contract equals 241,200 OZ OR 7.5023 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 (2339) x 100 oz (322)  OI for the front month minus the number of notices served upon today (249} x 100 oz} which equals 241,200 ostanding OR 7.5023 TONNES in this  active delivery month of NOV.

We GAINED 13 contracts or an additional 1300 oz will stand for delivery. 

 

TOTAL COMEX GOLD STANDING:  7.5023 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 497.123 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 7.5023 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  17,903,980.972 oz or 556.88 tonnes
 
 
 
total weight of pledged:1,917,862.791oz                                     59.65 tonnes
 
 
 
 
 
registered gold that can be used to settle upon: 15,986,118.0 (497.123 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes 15,986,118.0 (497.123 tonnes)   
 
 
total eligible gold: 15,688,151.961 oz   (487.967 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  33,592,132.938 oz or 1,044.85
tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  918.51 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 24/2021

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
41,356.250  oz
 
 
 
Delaware
HSBC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
611,515.650 oz
 
CNT
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
44
 
CONTRACT(S)
220,000  OZ)
 
No of oz to be served (notices)
1 contracts
 (5,000 oz)
Total monthly oz silver served (contracts)  1608 contracts

 

8,040,000 oz)

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

total dealer deposits:  nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 2 deposits into customer account (ELIGIBLE ACCOUNT)

i) Into CNT:  602,797.650 oz 

ii) Into Delaware: 8718.000

 

 
 

JPMorgan now has 179.43 million oz  silver inventory or 50.93% of all official comex silver. (179.43 million/352.830 million

total customer deposits today 611,515.650- oz

we had 2 withdrawals

i) Out of  Delaware:  4000.95

ii) Out of HSBC  32,526.470 oz

 

 

 

total withdrawal 41,356.260       oz

 

adjustments:   2 dealer to customer 
Brinks: dealer to customer: 582,135.968 oz
and Manfra:   95,465.595 oz
 
 
 
 
 

Total dealer(registered) silver: 98,260 million oz

total registered and eligible silver:  352.832 million oz

a net  0.570 million oz  enters the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

For the front month of November we have an  amount of silver standing equal to 45 contracts a LOSS of 108 contracts on the day. We had 112 notices filed on TUESDAY so we gained  4 contracts or an additional 20,000 oz will stand in this non active delivery month of November.
 

DEC LOST 7001   CONTRACTS DOWN TO 30,132

JANUARY LOST 138 CONTRACTS TO STAND AT 1595

 
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  1608 x 5,000 oz =8,040,000 oz to which we add the difference between the open interest for the front month of NOV (45) and the number of notices served upon today 44 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the NOV./2021 contract month: 1604 (notices served so far) x 5000 oz + OI for front month of NOV(45)  – number of notices served upon today (44) x 5000 oz of silver standing for the NOV contract month .equals 8,045,000 oz. .

We gained 4 contracts or an additional 20,000 oz will stand for silver in this non active delivery month of November.

 

TODAY’S ESTIMATED SILVER VOLUME  83,978 CONTRACTS // volume good  

 

 

FOR YESTERDAY 133,920 contracts  ,CONFIRMED VOLUME/ very strong/raid

 

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% (NOV24/2021)

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 24)/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 24/WITH GOLD UP $.40 TODAY//NO CHANGES IN GOLD INVENTORY AT THE GLD..INVENTORY RESTS AT 991.11 TONNES

NOV 23/WITH GOLD DOWN $21.85 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 6.11 TONNES INTO THE GLD////INVENTORY RESTS AT 991.11 TONNES.

NOV 22/WITH GOLD DOWN 54.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 985.00 TONNES

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

XXXXXXXXXXXXXXXXXXXXXXXXX

Inventory rests tonight at:

 

NOV 24 / GLD INVENTORY 991.11 tonnes

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

NOV 24/WITH SILVER UP 5 CENTS //NO CHANGE IN SILVER INVENTORY AT THE SLV..INVENTORY RESTS AT 547.261 MILLION OZ

NOV 23.WITH SILVER DOWN 81 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 2.128 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 547.261 MILLION OZ//

NOV 22/ WITH SILVER DOWN 47 CENTS TODAY; A BIG  CHANGES IN SILVER INVENTORY AT THE SLV: A SURPRISE DEPOSIT OF 1.156 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 549.389 MILLION OZ/

NOV 19/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY 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 24/2021  SLV INVENTORY RESTS TONIGHT AT 547.261 MILLION OZ

 

 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

 

end

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

Latest Treasury, Fed, & BIS Reports Confirm: All Twisted Paths Lead To Gold

WEDNESDAY, NOV 24, 2021 – 06:30 AM

Authored by Matthew Piepenberg via GoldSwitzerland.com,

The facts keep piling up, and recent BIS, Treasury and Fed reports confirm that all twisted paths lead to gold.

In a recent article, I posed the rhetorical question of when will policy makers finally stop lying and allow honest facts and natural market forces to return?

Lying is the New Normal

Unfortunately, as we examine the two latest working papers from the Fed/Treasury Dept cabal and the Bank of International Settlements, each confirms that lies are officially the new normal.

Over the years, we’ve tracked popularized delusions masquerading as policy with evidence rather than awe, addressing such topics as the open fictions of CPI inflation reporting and its “transitory” myth to the latest sample of double-speak spewing out of the Fed or White House.

Frankly, these well-masked fibs happen so frequently we never run out of material, including Biden assuring us earlier—and once again last week– of an “independent Fed.”

He’s trying a bit too hard to convince us, no?

History (Debt) Repeating Itself

History’s patterns confirm that the more a system implodes under the weight of its own self-inflicted extravagance (typically fatal debt piles driven by years of war, wealth disparity, currency debasement and political/financial corruption), the powers-that be resort to increasingly autocratic controls, distractions and automatic lying.

The list of such examples, from ancient Rome, 18th century France, and 20th century Europe to 21st century America are long and diverse, and whether it be a Commodus, Romanov, Batista, Biden, Franco or Bourbon at the helm of a sinking ship, the end game for bloated leaders reigning over bloated debt always ends the same: More lies, more controls, less liberty, less truth and less free markets.

Seem familiar?

As promised above, however, rather than just rant about this, it’s critical to simply show you. As I learned in law school, facts, alas, are far more important than accusations.

Toward that end, let’s look at the facts.

The Latest Joint-Lie from the Treasury Department & Fed

Earlier this month, the Fed and Treasury Department came up with a report to discuss, well, “recent disruptions” …

The first thing worth noting are the various “authors” to this piece of fiction, which confirm the now open marriage between the so-called “independent” Fed and the U.S. Treasury Dept.

If sticking former Fed Chair, Janet Yellen, at the helm of the Treasury Department (or former ECB head, Mario Draghi, in the Prime Minister’s seat in Italy) was not proof enough of central banks’ increasingly centralized control over national policy, this latest evidence from the Treasury and Fed ought to help quash that debate.

In the report above, we are calmly told, inter alia, that the U.S. Treasury market remains “the deepest and most liquid market in the world,” despite the ignored fact that most of that liquidity comes from the Fed itself.

Over 55% of the Treasury bonds issued since last February were not bought by the “open market” but, ironically, by private banks which misname themselves as a “Federal Open Market Committee” …

The ironies (and omissions) do abound.

But even the authors to this propaganda piece could not ignore the fact that this so-called “most liquid market in the world” saw a few hiccups in recent years (i.e., September of 2019, March of 2020) …

Translated Confessions of a Fake Taper

The cabal’s deliberately confusing response (and solution), however, is quite telling, and confirms exactly what we’ve been forecasting all along, namely: More QE by another name.

Specifically, these foxes guarding our monetary hen house have decided to regulate “collateral markets and Money Market Funds into buying a lot more UST T-Bills” by establishing “Standing Repo Facilities for domestic and foreign investors” which are being expanded from “Primary Dealers” to now “other Depository Institutions going forward” to “finance growing US deficits” by making more loans “via these repo facilities (SRF and FIMA).”

Huh?

Folks, what all this gibberish boils down to is quite simple and of extreme importance.

In plain speak, the Fed and Treasury Department have just confessed (in language no one was ever intended to understand) that they are completely faking a Fed taper and injecting trillions more bogus liquidity into the bond market via extreme (i.e., desperate) T-Bill support.

Again, this is simply QE by another name. Period. Full stop.

The Fed is cutting down on long-term debt issuance and turning its liquidity-thirsty eyes toward supporting the T-Bill/ money markets pool for more backdoor liquidity to prop up an otherwise dying Treasury market.

Again, this proves that the Fed is no longer independent, but the near exclusive (and rotten) wind beneath the wings of Uncle Sam’s bloated bar tab.

Or stated more simply: The “independent” Fed is subsidizing a blatantly dependent America.

Biden Doubles Down on the Double-Speak

Of course, as evidence of increasingly Fed-centralized control over our national economy now becomes embarrassingly obvious (yet deliberately hidden in “market speak’), it was imperative to roll out Biden from his nap-time and compel him to say the exact opposite.

In other words: Cue the spin-selling.

No shocker there…

 Just 2 days after the foregoing and joint Fed/Treasury “report” went public, the U.S. President, talking points in extra-large font on his prompt-reader), announced that he is “committed to the independence of the Fed to monitor inflation and combat it.”   

That’s rich.

First, it’s now obvious that the Fed is anything but independent. They might as well share the same office space as the Treasury Dept.

Second, the way the Fed “monitors” (aka: lies about) inflation has been an open joke for years.

Inflation, as accurately measured by the 1980’s CPI scale, is not at the already embarrassing 6% reported today, but more honestly at 15%.

Ouch.

When compared against a current (and artificially suppressed) 1.6% yield on the 10-Year UST, that means the most important bond in the global economy is offering you a real yield of negative 13.4%.

Think about that for a moment…

Thirdly, the Fed is not about “combating” inflation, but rather encouraging more of the same to inflate away debt via negative real rates, as we’ve warned all year.

And boy are they getting a nice dose of negative real rates now…

In short, if Biden or other political puppets spoke plain truth as opposed to optic spin, his words would translate as follows:

 “We are committed to unfettered dependence on the Fed to subsidize our debt and lie about inflation while encouraging more of the same.”

Yellen—The Queen of Lies

Meanwhile, Yellen chirps in during that same week promising to never allow a repeat of the 1970’s inflation level.

Again, nice words; but when using the same CPI scale to measure inflation that was used in the 1970’s, the U.S. is already experiencing 1970’s like inflation.

Recently, of course, Yellen openly blamed all our inflation problems on COVID rather than her own reflection.

Again, the ironies do abound.

Now, on to more acronyms and more, well, lies from above…

Enter More BS from the IBS as to CBDC

As if the spin coming out of DC was not enough to upset one’s appetite for candor, the Bank of International Settlements (BIS) has been busy telegraphing its own move toward more globalized central controls under the guise of a Central Bank Digital Currency, or “CBDC.”

In a recent working paper, the BIS literally produced a graph whereby it foresees central banks issuing CBDC as legal tender issued directly to consumers.

Read that last line again.

And here’s the BIS’s own graph (or skunk in the woodpile) to prove we’re not making this crazy up:

This literally confirms that despite Yellen, Biden and Powell’s recent promises to “combat” inflation (which they hitherto denied even existed), the BIS is now anchoring a new (i.e., more fiat) digital currency system which will send inflation to the moon—not to mention control and monitor the way consumers receive, use and spend “money.”

Of course, this is quite convenient to the centralized power brokers. In one CBDC “swoop,” they can now create inflation while controlling consumers at the same time.

Welcome to the twisted new normal.

Thus, when it comes to the banking elite, it’s far safer to watch what they’re doing rather than trust what they’re saying.

As we’ve warned for months, the banking/political cabal want more not less inflation.

Why?

Because that’s what all historically debt-soaked and failed regimes have wanted and done for centuries—inflate their way out the debt-hole they alone dug.

All Twisted Roads Lead to Gold

Needless to say, more liquidity, and more inflation, joined by more rate repression, truth destruction and currency debasement means gold’s recent bump north is just the beginning of the ride up and to the right for this “barbourins relic.”

As we’ve said with consistent conviction and hard facts, not to mention spot-on inflation reporting, gold’s golden era has yet to even begin.

As global currencies fall deeper toward the ocean floor in a sea of excess liquidity, gold, like an historically faithful cork, makes its way to the surface to get the final word.

In short: It’s not that gold is getting stronger, it’s just that the currency in your wallet, bank and portfolio is getting weaker.

 

 

end

ii) Important gold commentaries courtesy of GATA/Chris Powell

For your interest….a very rare first century 67 68 AD Jerusalem silver coin unearthed

(Jerusalem post)

Ancient Jerusalem silver coin is reminder that ‘a currency is a sign of sovereignty’

 

 

 Section: Daily Dispatches

 

11-Year-Old Finds ‘Holy Jerusalem’ Silver Coin Likely Minted in the Temple

By Rossella Tercatin
Jerusalem Post
Tuesday, November 23, 2021

A rare silver coin from the first century was found by an 11-year-old girl volunteering in an archaeological project, the Antiquities Authority announced today. The coin was likely minted by a priest who joined the Jewish rebels against the Romans, which would make it one of the very few remains coming directly from the Temple.

“This is a rare find, since out of many thousands of coins discovered to date in archaeological excavations, only about 30 are coins made of silver from the period of the Great Revolt,” said Dr. Robert Kool, head of the Coin Department at the Antiquities Authority

The coin, made of pure silver, weighs 14 grams. On one side it features a cup and the inscription: “Israeli shekel” and “second year,” referring to the second year of the revolt (67-68 CE).

On the other side, another inscription reads “Holy Jerusalem” in ancient Hebrew script, accompanied by another word that according to the experts refers to the headquarters of the high priest in the Temple.

The coin was found by a participant in the Emek Tzurim Sifting Project, in which volunteers sift through the dirt excavated from the Pilgrimage Road.

Liel Krutokop came with her family from Petah Tikva to do archaeological sifting at the City of David.

“When I got to Emek Tzurim I thought there must be simple coins in the buckets, but I did not think I would find a coin myself, and certainly not such a rare coin from pure silver,” said the 11-year-old. “I was lucky to find it, but I also want to say thank you to my sister for choosing the bucket we sifted. If she had not chosen this particular bucket, I probably would not have found the coin.”

In the first century, coins were considered an important expression of sovereignty, and this was especially true for silver coins, much more valuable than bronze ones. A bronze coin would allow the purchase of a couple of loaves of bread, whereas a silver coin could be used for much more expensive items, including military equipment.

“A currency is a sign of sovereignty,” Kool said. “If you go into rebellion, you use one of the most obvious symbols of independence, and you mint coins.

The inscription on the coin clearly expresses the rebels’ aspirations. The choice to use ancient Hebrew script, which was no longer in use at the time, is not accidental. The use of this script came to express the longing of the people of the period for the days of David and Solomon and the days of a united Jewish kingdom — days when the people of Israel had full independence in the land.”

Huge reserves of silver were kept in the Temple, and Kool believes that the silver used to mint the coin likely came from those reserves, in light of its quality.

“If so, we can cautiously say that this coin is apparently one of the only items we can hold today that originated on the Temple itself,” he said. …

… For the remainder of the report and photos of the coin and its discoverer:

https://www.jpost.com/archaeology/11-year-old-finds-holy-jerusalem-silver-coin-likely-minted-in-the-temple-685758

 

END

Chris Powell…

GATA) The three unanswered questions that confirm gold price suppression policy

 
 
 
 
The three unanswered questions that confirm gold price
suppression policy

1:31p ET Wednesday, November 24, 2021

Dear Friend of GATA and Gold:

Interviewed a few days ago by Gold Newsletter’s Fergus Hodgson
and Brien Lundin, your secretary/treasurer presented the three
crucial questions that key government agencies refuse to answer
about surreptitious intervention in the gold market by
governments and central banks, refusals that effectively
confirm gold price suppression policy.

These questions also are avoided by market analysts who deny
that governments manipulate the gold market in pursuit of
knocking the monetary metal out of the world financial system,
and by mainstream financial news organizations that refuse to
commit journalism in regard to gold lest they get in trouble
with their governments and banking system advertisers.

The interview is 39 minutes long and can be seen at Gold
Newsletter’s internet site here:

ht tps://goldnewsletter.com/podcast/questions-gold-fixing-
deniers-refuse-to-answer/

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

OTHER IMPORTANT GOLD///ECONOMIC COMMENTARIES

 

end

OTHER COMMODITIES/IRON ORE

Iron ore price jump on supposed optimism on China property optimism

(zerohedge)

Iron Ore Prices Jump On China Property Optimism

 
TUESDAY, NOV 23, 2021 – 06:40 PM

Iron ore futures trading in Singapore have bounced back above $100/ton after a series of positive announcements over the last week, from potential loosening of monetary policy to easing of regulations for China’s property sector. This has sparked optimism that China’s troubled property sector could soon boost steel demand. 

Prices in Singapore have soared as high as 22% to $104 handle in just four sessions. As of Tuesday, prices faded and hovered around the $100 mark as a turnaround in the demand outlook is being priced in.

The surge in price is being led by increasing optimism that easing property-market curbs could soon lift steel demand and improve profitability for steelmakers. There’s also chatter the People’s Bank of China could unleash stimulus amid the economic growth slowdown in the world’s second-largest economy after this year’s vicious regulatory crackdown by Beijing. 

“The market has higher expectations for steel production to resume,” Huatai Futures Co. wrote in a note. Property is a leading source of steel demand in the country. 

Iron ore prices have been on a rollercoaster this year after surging to a record in May as Beijing unleashed steel output limits to curb pollution and emissions for smelters. The rally then faltered by late summer as Beijing unleashed a crackdown on the property sector — a key source of steel demand, in return, hurt the outlook for consumption.

On the macro front, positive developments are appearing as the PBoC could be close to easing and Beijing dials back on regulatory crackdowns. Institutional investors are also getting in on the action as China’s high-yield bonds have had a bid this month. 

It appears the Chinese government would prefer to have a healthy property market and economy (or at least one that isn’t imploding) ahead of the upcoming Beijing 2022 Olympics. 

 

END

 

 
CRYPTOCURRENCIES/

END

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

i) Chinese yuan vs usa dollar/CLOSED UP 6.3885  

 

//OFFSHORE YUAN 6.3925  /shanghai bourse CLOSED UP 7.01 PTS OR  0.20% 

 

HANG SANG CLOSED UP 33.92 PTS OR 0.14% 

 

2. Nikkei closed DOWN 471.45 PTS OR 1.58% 

 

3. Europe stocks  ALL RED

 

USA dollar INDEX UP TO  96.74/Euro FALLS TO 1.1214-

3b Japan 10 YR bond yield: RISES TO. +.086/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 115.11/ 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:: 78.61 and Brent: 82.11

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.0.223%/Italian 10 Yr bond yield RISES to 1.10% /SPAIN 10 YR BOND YIELD RISES TO 0.52%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.22: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 1.34

3k Gold at $1784.45 silver at: 23.47   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 35/100 in roubles/dollar) 74.86

3m oil into the 78 dollar handle for WTI and  82 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 115.11 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 .9361 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0497 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year RISING to 0.223%

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 1.664% early this morning. Thirty year rate at 2.015%

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

6.  TURKISH LIRA:  UP  TO 11.67..  EXTREMELY DEADLY

Futures Slide As Dollar Jumps, Yields Rebound Ahead Of Massive Data Dump

 
WEDNESDAY, NOV 24, 2021 – 08:07 AM

For the third day in a row, US equity futures have been weighed down by rising (real) rates even as traders moderated their expectations for monetary-policy tightening after New Zealand’s measured approach to rate hikes where the central banks hiked rates but not as much as some had expected. Traders also braced for an epic data dump in the US, which includes is an epic data dump which includes an update to Q3 GDP, advance trade balance, initial jobless claims, wholesale and retail inventories, durable goods, personal income and spending, UMich consumer sentiment, new home sales, and the FOMC Minutes The two-year U.S. yield shed two basis points. The dollar extended its rising streak against a basket of peers to a fourth day. At 730am, S&P 500 e-mini futures dropped 0.3%, just off session lows, while Nasdaq futures dropping 0.34%.

In premarket trading, Nordstrom sank 27% after the Seattle-based retailer posted third-quarter results featuring what Citi called a big earnings per share miss. The company reported higher labor and fulfillment costs in the third quarter while sales remained stubbornly below pre-pandemic levels and profit missed analyst estimates. Telecom Italia SpA surged in Europe on enhanced takeover interest. Oil prices fluctuated as producers and major consuming nations headed for a confrontation. Other notable premarket movers:

  • Gap (GPS US) sank 20% premarket after the clothing retailer reported quarterly results that missed estimates and cut its net sales forecast for the full year. Analysts lowered their price targets.
  • Nordstrom (JWN US) tumbles 27% in premarket after the Seattle-based retailer posted third-quarter results featuring what Citi called a big earnings per share miss. Jefferies, meanwhile, downgrades the stock to hold from buy as transformation costs are rising.
  • Guess (GES US) posted quarterly results which analysts say included impressive sales and margins, and showed the company navigating supply-chain issues successfully. The shares closed 9.2% higher in U.S. postmarket trading.
  • HP (HPQ US) shares are up 8.4% in premarket after quarterly results. Analysts note strong demand and pricing in the personal computer market.
  • Meme stocks were mixed in premarket after tumbling the most since June on Tuesday as investors bailed out of riskier assets.
  • Anaplan (PLAN US) slides 18% in premarket as a narrower-than-expected quarterly loss wasn’t enough to stem a downward trend. Analysts slashed price targets.
  • Autodesk (ADSK US) shares slump 14% in premarket after the building software maker narrowed its full-year outlook. Analysts are concerned that issues with supply chains and the pandemic could impact its targets for 2023.
  • GoHealth (GOCO US) gained 8.4% in postmarket trading after the insurer’s CEO and chief strategy officer added to their holdings.

As Bloomberg notes, investors are on the edge as they face a wall of worry from a resurgence of Covid-19 in Europe to signs of persistent consumer-price growth. Damping inflation is now center-stage for policy makers, with ultra-loose, pandemic-era stimulus set to be wound down. The slew of U.S. data as well as Federal Reserve minutes due today may provide the next catalysts for market moves.

In Europe, the Stoxx 600 Index erased earlier gains of up to 0.4% to trade down -0.1%, with tech and travel and leisure leading declines. Miners gained 0.8%, tracking higher copper prices on easing concerns over Chinese demand, while travel stocks slid over 1% on prospects of harsher travel curbs: Italy and France are debating new measures to cope with Covid’s resurgence while Germany isn’t ruling out fresh curbs. Oil stocks rose 1.2%, set for their biggest jump in over a month, with crude prices inching higher as investors remained sceptical about the effectiveness of a U.S.-led release of oil from strategic reserves. Here are some of the most notable European equity movers:

  • Mulberry shares surge as much as 24%, the most since March 12, after the U.K. luxury company swung to a 1H profit from a year earlier and reported an increase in sales.
  • Telecom Italia shares rise as much as 10% following a Bloomberg report that KKR is considering to raise its offer for the company after top investor Vivendi said the bid was too low. However, the stock is still trading below the initial non-binding offer from KKR.
  • Golden Ocean gains as much as 9.6%, most since Feb., after earnings. DNB says “Golden Ocean delivered solid Q3 results” and adds “Furthermore, guidance for Q4 should lift consensus estimates and solidify further dividend potential in our view.”
  • Intertek shares gain as much as 6.7%, the most since May 2020, after the company issued a trading update. UBS says the company’s accelerating momentum and reiterated targets are “reassuring.”
  • Aegon shares rise as much as 5.5% after Credit Suisse upgraded its recommendation to outperform from neutral and raised the PT to EU5.30 from EU4.00.
  • IQE shares slump as much as 21% for the biggest intraday drop since March 2020, falling to their lowest level since June 2020 after the semiconductor company said it sees softening demand in 4Q.
  • Genus shares fall as much 15% after the animal genetics firm lowered its FY22 earnings guidance, leading Peel Hunt and Liberum to cut estimates.

European stocks are on course for weekly losses, as the return of COVID-19 curbs, rate hike and inflation concerns sparked fears of a weaker economic growth outlook.

“There’s a two-way pull between macro concerns and what’s happening bottoms-up in terms of corporate profits,” said Nick Nelson, head of European equity strategy at UBS, adding that while the third quarter has been one of the decade’s best reporting seasons for Europe, macro concerns such as a rise in U.S. bond yields and COVID-19 cases have been holding stocks back.

Earlier in the session, Asian equities declined, on track for a third-straight session of losses, as higher U.S. Treasury yields continued to weigh on technology stocks in the region. The MSCI Asia Pacific Index slid as much as 0.6%, with Japan stocks leading losses as traders returned from a holiday to access the prospect of tighter U.S. monetary policy to curb inflation. TSMC and Tencent were among the biggest drags on the regional gauge. READ: Samsung Plans $17 Billion Texas Chip Plant, Creating 2,000 Jobs The renomination of Jerome Powell as Federal Reserve chair earlier this week has sent U.S. 10-year Treasury yields to about levels near 1.65%, implying higher borrowing costs. That’s adding to concerns about weak earnings growth in Asia as well as ongoing supply-chain constraints. Investors will now turn their attention to U.S. gross domestic product data and FOMC minutes due out after Asian markets close Wednesday.  “A cautious tone may still seem to prevail for now,” Jun Rong Yeap, a market strategist at IG Asia, said in a note. “Markets continue to shift their expectations towards a tighter Fed monetary policy.” New Zealand’s stock gauge added 0.6% after the central bank raised interest rates by 25 basis points, less than the 50 points that some economists had predicted. Singapore authorities, meanwhile, expect gross domestic product to expand 3% to 5% next year, a slower pace than this year as the country rebounds from the pandemic.

Indian stocks fell ahead of the November monthly expiry on Thursday, led by technology companies. The S&P BSE Sensex slipped 0.6% to 58,340.99 in Mumbai to close at its lowest level in two months. The gauge gained 0.3% on Tuesday, snapping four sessions of selloff.   The NSE Nifty 50 Index declined 0.5% on Wednesday, reversing intraday gains of as much as 0.6%. Software exporter Infosys Ltd. was the biggest drag on both gauges and slipped more than 2%. Of the 30 shares in the Sensex, 21 dropped and nine rose.  Investors roll over positions ahead of the expiry of derivatives contracts on the last Thursday of every month. Fourteen of 19 sub-indexes compiled by BSE Ltd. fell, led by a measure of IT companies. “The scheduled monthly expiry would keep the traders busy on Thursday,” Ajit Mishra, vice president research at Religare Broking Ltd. wrote in a note. “We suggest continuing with negative bias on the index while keeping a check on leveraged positions.”

In Fx, the most notable movers was the drop in the kiwi: New Zealand’s currency ironically slid to the weakest in nearly two months and the nation’s bond rallied as the central bank’s 25 basis-point rate hike disappointed traders betting on a bigger increase. The central bank projected 2% benchmark borrowing costs by the end of 2022. The Bloomberg Dollar Spot Index advanced a fourth consecutive day as the greenback gained versus all Group-of-10 peers apart from the yen, which reversed its losses after falling to the lowest since March 2017. The euro underperformed, nearing the $1.12 handle amid broad dollar strength even before data showing German business confidence took another hit in November and amid renewed fears that Germany may be considering a full lockdown and mandatory vaccines. RBNZ Governor Adrian Orr said policy makers considered a 50bps move before deciding on 25bps, and he sees the OCR climbing to around 2.5% by end-2023. 

Elsewhere, Turkey’s lira stabilized after Tuesday’s plunge. MSCI’s gauge of emerging-market stocks edged lower for a sixth session.  

In rates, Treasuries were richer by 1bp to 2bp across the curve, paced by European bonds ahead of a raft of U.S. data preceding Thursday’s market close. 10-year Treasury yields were richer by ~1bp on the day at around 1.655%, slightly trailing bunds; most curve spreads are within a basis point of Tuesday’s close with comparable shifts across tenors. During Asia session, Treasuries were supported by wider gains across Kiwi bonds after RBNZ hiked policy rates, but still erred on the dovish side. Bunds remain supported during European morning as haven demand stems from prospect of a nationwide German lockdown. Italian bonds snapped a two-day decline.

In commodities, oil futures in New York swung between gains and losses following an announcement by the U.S. and other nations of a coordinated release of strategic reserves. Focus now turns to OPEC+ on how the group will respond to the moves. The alliance has already said that such releases were unjustified by market conditions and it may reconsider plans to add more supply at a meeting next week.

Base metals are well bid with LME nickel adding over 2% to outperform peers. LME copper rises over 1% to best levels for the week. Crude futures fade a modest push higher fading after a brief push through Tuesday’s best levels. WTI trades flat, having briefly printed above $79; Brent prints highs of $83 before fading. Spot gold holds a narrow range close to $1,790/oz

To the day ahead now, and there’s a significant amount of US data ahead of tomorrow’s Thanksgiving holiday. That includes the weekly initial jobless claims, the second estimate of Q3 GDP, October’s personal income and personal spending, new home sales, and the preliminary October readings for durable goods orders and core capital goods orders. Over in Germany, there’s also the Ifo’s business climate indicator for November. Finally on the central bank side, there’s the release of the FOMC’s November meeting minutes, and speakers include the ECB’s Panetta and Schnabel, and the BoE’s Tenreyro.

Market Snapshot

  • S&P 500 futures down 0.1% to 4,683.50
  • STOXX Europe 600 up 0.3% to 480.66
  • MXAP down 0.5% to 196.76
  • MXAPJ down 0.1% to 643.18
  • Nikkei down 1.6% to 29,302.66
  • Topix down 1.2% to 2,019.12
  • Hang Seng Index up 0.1% to 24,685.50
  • Shanghai Composite up 0.1% to 3,592.70
  • Sensex down 0.3% to 58,499.84
  • Australia S&P/ASX 200 down 0.2% to 7,399.44
  • Kospi down 0.1% to 2,994.29
  • Brent Futures up 0.4% to $82.63/bbl
  • Gold spot up 0.1% to $1,791.37
  • U.S. Dollar Index little changed at 96.57
  • German 10Y yield little changed at -0.22%
  • Euro down 0.2% to $1.1231

Top Overnight News from Bloomberg

  • Olaf Scholz is set to succeed Angela Merkel as German chancellor after forging an unprecedented alliance that aims to revamp Europe’s largest economy by tackling climate change and promoting digital technologies
  • The European Commission is set to announce the recommendations for the entire EU as soon as Thursday, Politico’s Playbook newsletter reported, citing three unidentified officials and diplomats
  • Italy’s government is debating tough new measures to stem an increase in coronavirus cases, which could include restrictions on unvaccinated people and be approved as soon as Wednesday
  • The ECB’s pandemic purchasing program may enter a “waiting room” rather than be abolished completely once net purchases are set to end in March, Governing Council member Robert Holzmann said at briefing in Vienna
  • The U.K.’s biggest business lobby group has urged Prime Minister Boris Johnson to back down in its dispute with the European Union over Northern Ireland and not follow through with threats to suspend parts of the Brexit divorce deal
  • Polish central bank Governor Adam Glapinski said further weakening of the zloty wouldn’t be consistent with the country’s economic fundamentals, helping lift the embattled currency from 12-year lows
  • The supply crunch that’s helped drive inflation to multi- decade highs shows some signs of easing in the U.S. — but it’s still getting worse in Europe. That’s the takeaway from the latest readings on Bloomberg Economics’ new set of supply indicators
  • The unraveling of the Turkish lira threatens to erode Recep Tayyip Erdogan’s grasp on the economy and is already emboldening his political opponents. Small protests erupted in Istanbul and Ankara overnight, calling for an end to economic mismanagement that’s unleashed rapid inflation and triggered the currency’s longest losing streak in two decades

A more detailed breakdown of global news courtesy of newsquawk

Asia-Pac equity indices were mixed following the choppy performance of their US counterparts where energy rallied despite the SPR announcement and tech lagged as yields continued to gain, with the latest RBNZ rate hike, as well as looming FOMC Minutes and US data releases adding to the tentative mood. ASX 200 (-0.2%) was rangebound with the index subdued by losses in tech and gold miners which suffered from the rising yield environment, but with downside cushioned by strength in the largest weighted financials sector and with outperformance in energy after oil prices rallied in the aftermath of the widely anticipated SPR announcement. The strength in oil was attributed to several reasons including a “sell the rumour/buy the news” play and expectations of a response from OPEC+, while an administration official kept the prospect of an oil export ban on the table which is seen as bullish as it would remove US supply from the global market. Nikkei 225 (-1.6%) was the laggard on return from holiday amid flows into the local currency and with reports also suggesting the BoJ is considering tweaking its pandemic relief program. Hang Seng (+0.1%) and Shanghai Comp. (+0.1%) swung between gains and losses with early indecision due to the broad tech weakness tech which was not helped by reports that Chinese cyberspace regulators and police summoned Alibaba (9988 HK) and Baidu’s (9888 HK) cloud unit for telecoms network fraud, although the losses for Chinese bourses were eventually reversed amid gains in the energy heavyweights and after a mild PBoC liquidity injection. Finally, 10yr JGBs opened lower on spillover selling from global peers but gradually pared some of the losses after rebounding from support at 151.50 and with the BoJ in the market for nearly JPY 1.5tln of JGBs with up to 10yr maturities.

Top Asian News

  • Shinsei Drops Poison Pill Against SBI in Japan Takeover Saga
  • Morgan Stanley to Repay Hong Kong Staff $5,100 for Quarantine
  • KKR, Equinix Among Suitors for $11 Billion Global Switch
  • Japan to Issue $192 Billion in Debt for Stimulus: Nikkei

European equities attempted to claw back some of the week’s losses (Euro Stoxx 50 -0.2%; Stoxx 600 -0.2%) at the open with Monday and Tuesday’s session dominated by ongoing COVID angst in the region. Lockdown measures were enough to see investors shrug off yesterday’s better-than-expected PMI metrics for the Eurozone with today’s slightly softer than hoped for German Ifo report having little sway on price action. Despite the upside seen at the open, optimism has faded throughout the session as speculation mounts over whether the announcement of the German coalition deal (set to be unveiled at 14:00GMT) could prompt further lockdown measures for the nation. Furthermore, reports note that the Italian government is debating potential restrictions on the unvaccinated; measures could be approved as soon as today. On a more positive footing French Finance Minister Le Maire says at the moment he does not see any need for further COVID-related restrictions in France. However, it remains to be seen how long this viewpoint can be sustained. Stateside, futures are a touch softer with losses across the majors of a relatively equal magnitude (ES -0.1%) in the final full session of the week ahead of the Thanksgiving Holiday. Given the shortened week, today sees a deluge of data from the US with releases including key personal income, spending and PCE data for October, a second look at Q3 GDP, final Michigan consumer sentiment data, as well as weekly jobless claims and energy inventory data. All of which is followed by the FOMC minutes from the November meeting. In a recent note, BNP Paribas stated it is of the view that equities will go on to provide the highest returns across asset classes in 2022 with the French bank targeting 5100 (currently 4690) for the S&P 500 by the end of next year. From a European perspective, BNP expects the Euro Stoxx 50 to close 2022 out at 4500 (currently 4300) with the market “too pessimistic” on margins; albeit the Bank concedes that the resurgence of COVID presents a risk to its view. Sectors in Europe are mostly constructive with Oil & Gas and Basic Resources underpinned by gains in the underlying commodities with the former continuing to garner support post-yesterday’s SPR announcement. The Travel & Leisure sector lags peers with the Travel element of the group hampered by reports that the European Commission is preparing new COVID travel recommendations for the whole of the EU. For Leisure names, Entain (-5.0%) and Flutter Entertainment (-3.0%) have been hit by news that over 160 UK MPs and peers are said to be demanding that online gambling limits are lowered. Finally, Telecom Italia (+9.7%) is the best performer in the Stoxx 600 after source reports suggesting that KKR is considering a higher bid for the Co. in an attempt to win over support from Vivendi.

 

Top European News

  • Scholz Seals Coalition Deal to Become Next German Chancellor
  • Italy Readies Curbs on the Unvaccinated as Covid Cases Rise
  • Booking Agrees to Buy CVC’s Etraveli for About EU1.63b
  • Orange CEO Convicted in $453 Million Arbitration Fraud Case

In FX, the Dollar index has gained traction and continued its gains above 96.500+ status in early European hours before eclipsing resistance at 96.700 to a fresh YTD peak at 96.758, with US players also preparing to wind down for the long weekend. Before that, the Buck will be facing a plethora of Tier 1 US data, including Prelim GDP (Q3), weekly Jobless Claims, and monthly PCE in the run-up to the FOMC Minutes – which will be eyed for clues on what could warrant an adjustment of the pace of tapering (Full preview available in the Newsquawk Research Suite). On the downside, immediate support will likely be at yesterday’s 96.308 low before this week’s current 96.035 trough. In terms of early month-end FX flows (on account of the holiday-shortened week), Morgan Stanley’s model points towards USD weakness against most G10 peers.

  • EUR, GBP – The single currency dipped a 16-month low just before the release of the German Ifo survey, which unsurprisingly voiced cautiousness against the backdrop of COVID and supply chain issues – with Ifo forecasting a growth stagnation this current quarter, whilst ING believe that today’s Ifo signals that “The risk of stagnation or even recession in the German economy at the turn of the year has clearly increased.” The currency came under further pressure in what coincided with reports that Germany is mulling a full COVID lockdown and mandatory vaccinations, although the piece failed to cite any sources nor officials and seemed to be more an extrapolation of recent remarks from the German Health Minister. EUR/USD fell through pivotal support at 1.1210 to a current low at 1.1206 ahead of 1.1200. Traders should also be cognizant of several chunky OpEx clips including EUR 1.3bln between 1.1195-1.1200. Ahead, the SPD, Greens and FDP set to unveil their coalition deal at 14:00GMT. ECB speak today include from the likes Schnabel after Panetta and Holzmann failed to spur action across EU assets. Elsewhere, the GBP/USD is flat intraday and saw little reaction to BoE Governor Bailey yesterday, suggesting he does not think the MPC will go back to a hard form of guidance and stated that it is not off the table that they give no guidance at all on rates. Bailey also stated that decisions are made meeting by meeting and that they have a very tight labour market. From a political standpoint, European Commission VP Sefcovic said EU-UK talks on Northern Ireland trade rules will probably drag into 2022. Cable remains within a 1.3353-89 range whilst EUR/GBP trades on either side of 0.8400. Looking ahead, BoE’s Tenreyro speaking at the Oxford Economics Society – with early-Nov commentary from the MPC member suggesting that monetary policy will have to bite if there are signs of second-round inflation effects, but policy cannot fix energy price spikes.
  • NZD, AUD – The Kiwi stands as the G10 laggard following a dovish 25bps hike by the RBNZ, with the board citing optionality. Desks suggest that FX was clearly gearing for a hawkish surprise from the central bank, with markets pricing some 35% of a 50bps hike heading into the meeting given the inflation survey earlier this month. Money markets were also disappointed, with participants flagging that the 2yr swap fell over 15bps despite the RBNZ upping its 2023 OCR forecast to 2.3% (prev. 1.7%). NZD/USD fell further beneath the 0.7000 mark to a current 0.6957 low. AUD meanwhile sees its losses cushioned from another day of firm gains in iron ore, whilst cross-currency flows help the AUD/NZD test 1.0450 to the upside. Nonetheless, the cautious market mood keeps AUD/USD around the flat mark after the pair found support at 0.7200.
  • JPY – The traditional haven outperforms as risk aversion creeps into the market. USD/JPY pivots the 115.00 market after hitting an overnight high of 115.23. Some desks suggest that offers are seen from 115.30 on Wednesday, with more around the 115.50 area, according to IFR citing Tokyo sources. In terms of notable OpEx, USD/JPY sees USD 1.7bln between 115.00-10.

In commodities, WTI and Brent Jan futures consolidate following yesterday’s gains post-SPR announcement. The release disappointed the oil bears given the widely telegraphed nature of the announcement coupled with relatively small contributions from members. Desks have also highlighted that the reserves will need to be replenished at some time in the future, and thus, analysts have passed the effects from the SPR release as temporary; although, cautioning that if the desired impact is not achieved, then further action can be taken – with a temporary export ban still on the table. Meanwhile, on the demand side, futures dipped after CNBC reported that Germany could head into a full lockdown, but the piece did not make a mention of officials nor sources but seemed to be more an extrapolation of recent comments from the Germany Health Minister, with an announcement on this matter potentially to come today. Further, tomorrow could see revised travel guidance for the whole of the EU, according to Politico sources, although “The biggest overall change will be a move away from a country-based approach and to a person-based one, which takes into account a citizen’s individual COVID status.” Despite this month’s European COVID developments, JPMorgan sees global oil demand growing by another 3.5mln BPD next year to reach 99.8mln BPD (280k BPD above 2019 level); 2023 demand is expected to average around 101.5mln BPD (1.9mln BPD above pre-COVID levels) and suggested that global oil demand is on track to exceed 2019 levels by March 2022 and strengthen further. As a reminder, next week also sees the OPEC+ meeting whereby the group is expected to continue with plans of monthly output increases of 400k BPD, with a risk of a more dovish decision and/or commentary. WTI Jan trades around USD 78.50/bbl (vs high 79.23/bbl) and Brent Jan around USD 82.25/bbl (vs high 83.00/bbl). Elsewhere, spot gold is interestingly unfazed by the rampant Dollar as prices remain caged within a cluster of DMAs (100 around 1,793, 200 around 1,791 and 50 around 1,788). Copper prices are again on the grind higher with LME around USD 9,800/t at the time of writing – with participants citing underlying demand, particularly from China.

US Event Calendar

  • 8:30am: 3Q GDP Annualized QoQ, est. 2.2%, prior 2.0%
    • 8:30am: 3Q GDP Price Index, est. 5.7%, prior 5.7%
    • 8:30am: 3Q PCE Core QoQ, est. 4.5%, prior 4.5%
    • 8:30am: 3Q Personal Consumption, est. 1.6%, prior 1.6%
  • 8:30am: Oct. Durable Goods Orders, est. 0.2%, prior -0.3%
    • 8:30am: Oct. Cap Goods Orders Nondef Ex Air, est. 0.5%, prior 0.8%; – Less Transportation, est. 0.5%, prior 0.5%
    • 8:30am: Oct. Cap Goods Ship Nondef Ex Air, est. 0.5%, prior 1.4%
  • 8:30am: Oct. Retail Inventories MoM, est. 0.3%, prior -0.2%; Wholesale Inventories MoM, est. 1.0%, prior 1.4%
  • 8:30am: Oct. Advance Goods Trade Balance, est. – $95b, prior -$96.3b
  • 8:30am: Nov. Initial Jobless Claims, est. 260,000, prior 268,000; Continuing Claims, est. 2.03m, prior 2.08m
  • 9:45am: Nov. Langer Consumer Comfort, prior 50.7
  • 10am: Oct. Personal Income, est. 0.2%, prior -1.0%;
    • 10am: Oct. Personal Spending, est. 1.0%, prior 0.6%
    • 10am: Oct. Real Personal Spending, est. 0.6%, prior 0.3%
  • 10am: Oct. New Home Sales, est. 800,000, prior 800,000
    • 10am: Oct. New Home Sales MoM, est. 0%, prior 14.0%
  • 10am: Oct. PCE Deflator MoM, est. 0.7%, prior 0.3%
    • 10am: Oct. PCE Core Deflator MoM, est. 0.4%, prior 0.2%
    • 10am: Oct. PCE Deflator YoY, est. 5.1%, prior 4.4%
    • 10am: Oct. PCE Core Deflator YoY, est. 4.1%, prior 3.6%
  • 10am: Nov. U. of Mich. Sentiment, est. 67.0, prior 66.8
    • 10am: Nov. U. of Mich. 5-10 Yr Inflation, prior 2.9%
    • 10am: Nov. U. of Mich. 1 Yr Inflation, prior 4.9%
    • 10am: Nov. U. of Mich. Current Conditions, prior 73.2
    • 10am: Nov. U. of Mich. Expectations, prior 62.8
  • 2pm: Nov. FOMC Meeting Minutes

DB’s Jim Reid concludes the overnight wrap

We’ve had a number of requests to bring back our Covid tables in the EMR. At the moment I’m resisting as they take a considerable amount of time. While we work out an efficient form of articulating the current wave on a daily basis, in today’s EMR we show graphs of the daily rolling 7-day cases and fatalities per million in the population for the G7. We’ve also included Austria, given how topical that is, and also The Netherlands, given mounting problems there. These act as a useful reference point for some of the more stressed countries. The cases chart should be in the text below and the fatalities one visible when you click “view report”. Germany is probably the main one to watch in the G7 at the moment and overnight reported 66,884 new cases (a record) compared with 45,362 the day before.

A reminder that yesterday we published our 2022 credit strategy outlook. See here for the full report. Craig has also put out a more detailed HY 2022 strategy document here and Karthik a more detailed IG equivalent here. Basically we think spreads will widen as much as 30-40bps in IG and 120-160bps in HY due to a response to a more dramatic appreciation of the Fed being well behind the curve. This sort of move is consistent with typical mid-cycle ranges through history. We do expect this to mostly retrace in H2 as markets recover from the shock and growth remains decent and liquidity still high.

We also published the results of our ESG issuer and investor survey where around 530 responded. Please see the results here.

As we hit Thanksgiving Eve and a US data dump of a day given the holiday tomorrow, the big story over the last 2-3 business days has been real rates in the US. As recently as Friday, after the Austria lockdown news, 10yr real rates hit -1.2%. Yesterday they traded above -0.95% before closing at -0.97%, +4.0bps higher than the previous close. Our view in the 2022 credit strategy document is that credit is more tied to real rates than nominal rates and if the market attacks the Fed as we expect, then they should go up. However, note that I’ve also said I suspect they’ll stay negative for the rest of my career so while higher real yields are likely, I suspect that this is a trade rather than a structural long-term journey given likely long-term financial repression.

Anyway, rising real yields, a fresh covid wave and belief over a less dovish Fed post the Powell reappointment saw a tough day for equities, especially in Europe, before the US managed to eke out a gain into the close. The S&P 500 (+0.17%) was up for the first time in 3 days, whilst Europe’s STOXX 600 (-1.28%) posted its worst daily performance in nearly 2 months. On a sector level, it was the same story in the US, where energy (+3.04%) shares benefitted from climbing oil prices and financials (+1.55%) gained on steeper and higher yields. Larger tech firms retreated on the higher discount rates, with the Nasdaq declining -0.50%.

Meanwhile the VIX index of volatility was back above the 20-mark for the first time in over a month, coinciding with a broader tightening of financial conditions. However, we dipped back below 20 into the stronger close.

Honing in on bonds now and there was a major selloff yesterday that hit a number of European countries in particular. By the close of trade, yields on 10yr bunds were up +8.1bps, which is their single-biggest daily increase in over a year, actually since the day we found out that the Pfizer/BioNTech vaccine had proven successful in trials and was set to be rolled out. The move came about entirely due to higher real rates, with Germany 10yr inflation breakevens actually down -2.0bps on the day. Similar moves were seen elsewhere on the continent, with yields on 10yr OATs (+8.6bps) and BTPs (+10.5bps) seeing sharp rises of their own, which occurred in part on the back of stronger than expected flash PMI data raising the prospect of a quicker drawdown in monetary stimulus, not least with inflation still running some way ahead of the ECB’s target.

For US Treasuries, yields were a touch more subdued, and the yield curve twist steepened. 2yr yields declined -1.8bp whilst every other maturity increased, and all tenors out to 7 years are at post-pandemic highs. The 5yr nominal yield increased +2.2bps to 1.34%. The 10yr was up +4.1bps to 1.67% due, as we discussed above, to real yields. 10yr breakevens were flat (+0.2bp) at 2.63%. The 10 year is 7.5bps off of 2021 closing highs and in the 430 plus business days since the pandemic started there have only been 14 days with a higher close than last nights.

Elsewhere yesterday, we had an important piece of news on the energy front, as the US announced that it would be releasing 50m barrels of oil from the Strategic Petroleum Reserve, with the move occurring alongside similar decisions in China, India, Japan, South Korea and the UK. 32m of those 50m will be an exchange, whereby oil is released over the next few months that is then returned over the coming years, while another 18m are coming from an acceleration of an oil sale that Congress had already authorised. Oil prices rose following the release however, with Brent crude (+3.27%) and WTI (+2.28%) both seeing decent advances, in part because the contribution from other nations was smaller than many had anticipated, but also because the potential release from the SPR had been widely reported in advance, thus sending prices lower from their peak around a month ago.

Even with the news, there’s no sign that inflationary pressures will be going away just yet, since much of what happens next will depend on the reaction of the OPEC+ group. If they move to cancel plans to increase production, then that could put upward pressure on prices again and help counter the impact of the move from the various energy consumers. And as we’ve been discussing, inflationary pressures have been widening for some time now, stretching beyond specific categories like energy and used cars to an array of other areas.

Overnight in Asia stocks are trading mostly in the red with the CSI (-0.03%), Hang Seng (-0.06%), Shanghai Composite (-0.10%), KOSPI (-0.48%) and the Nikkei (-1.35%) all lower. The Reserve Bank of New Zealand has raised interest rates for the second consecutive month and lifted the official cash rate 25bps to 0.75%. There was some who expected 50bps so bonds are rallying with 2yr and 10yrs -5.5bps and -7.5bps lower, respectively. The central bank were pretty hawkish in their comments though. US Treasuries are 2-4bps lower across the curve overnight as well.

Staying on New Zealand, the country eased its travel restrictions by allowing fully vaccinated travellers (and other eligible travellers) from Australia without any isolation from Jan 17 and those from the rest of the world from February 14. Elsewhere, South Korea reported its highest ever daily new cases of 4,115 with 586 critical cases with the PM announcing the situation is “more serious than expected”. Futures are indicating a slightly weaker start in the US and Europe with the S&P 500 (-0.24%) and DAX (-0.09%) lower.

Over in Europe, there’s no sign of the pandemic letting up just yet, with French health minister Veran saying in parliament that “we are sadly well and truly in a fifth wave of the epidemic” as France announced 30,454 new cases yesterday. Austria has been the main country in the headlines recently as it moved into a nationwide lockdown, but the reality is that the trend lines have been moving higher across the continent, raising the prospect of fresh restrictions. In terms of yesterday’s developments, the Netherlands announced that social distancing would be reintroduced on a mandatory basis, and that people should stay 1.5m apart, and Poland saw the biggest daily increase in hospitalisations since April. Elsewhere, Slovakia’s PM said that he was considering following the steps adopted in Austria, and the outgoing Czech PM said that mandatory vaccines for the over-60s were being considered.

In spite of the growing Covid wave across Europe, the flash PMIs released yesterday actually proved better than the consensus was expecting, and even saw something of an uptick from the October readings. The Euro Area composite PMI ended a run of 3 successive declines as it rose to 55.8 (vs. 53.0 expected), with both manufacturing (58.6) and services (56.6) rising relative to a month ago. And both the German (52.8) and the French (56.3) composite PMIs were also better than expected. On the other hand, the US had somewhat underwhelming readings, with the flash services PMI down to 57.0 (vs. 59.0 expected), as the composite PMI fell to 56.5.

To the day ahead now, and there’s a significant amount of US data ahead of tomorrow’s Thanksgiving holiday. That includes the weekly initial jobless claims, the second estimate of Q3 GDP, October’s personal income and personal spending, new home sales, and the preliminary October readings for durable goods orders and core capital goods orders. Over in Germany, there’s also the Ifo’s business climate indicator for November. Finally on the central bank side, there’s the release of the FOMC’s November meeting minutes, and speakers include the ECB’s Panetta and Schnabel, and the BoE’s Tenreyro.

 

3A/ASIAN AFFAIRS

i) WEDNESDAY MORNING/TUESDAY  NIGHT: 

SHANGHAI CLOSED UP 3.61 PTS OR  0.10%     //Hang Sang CLOSED UP 33,92 PTS OR 0.14% /The Nikkei closed DOWN 471.45 PTS OR 1.58%     //Australia’s all ordinaires CLOSED DOWN 0.21%

/Chinese yuan (ONSHORE) closed UP  6.3882   /Oil UP TO 78.61 dollars per barrel for WTI and UP TO 82.11 for Brent. Stocks in Europe OPENED  ALL MIXED  /ONSHORE YUAN CLOSED  UP AT 6.3882 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3925/ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 

3 a./NORTH KOREA/ SOUTH KOREA

///SOUTH KOREA//CHINA

 
 
 
end

b) REPORT ON JAPAN

JAPAN/

end

3 C CHINA

//CHINA//COVID/VACCINE

Chinese doctors are urging Beijing to abandon the stupid zero Covid strategy.  Infections as promised continue to rise and yet the PBOC continues to double down.

(zerohedge)

 

Chinese Doctors Urge Beijing To Abandon “Zero-COVID” Strategy As Infections Rise, Government Doubles Down

 
TUESDAY, NOV 23, 2021 – 08:00 PM

As the world approaches the second anniversary of Beijing’s New Years’ Eve (at least, for Americans) report to the WHO about a mysterious new virus circulating in Wuhan, Bloomberg reports that China is officially facing its toughest battle with COVID since the early days of the outbreak, and in response, is doubling down on its “COVID Zero” pledge, just as Australia calls in its military to help forcibly remove people in the northern territories to quarantine camps.

The decision to “double down” comes “despite rising costs to Australia’s people and economy”, Bloomberg reports. Additionally, as the FT reports, at least three leading Chinese health scholars have challenged the government’s policy of monitoring of mobile phone location data to help identify close contacts of COVID-19 cases, “in a rare instance of public opposition to the nation’s draconian pandemic prevention strategy.”

Per the FT, whose reporting embraces the notion that Beijing has an obligation to accept that COVID will inevitably become “endemic”, China’s top public-health officials, led by Chen Fujun at Huaxi No 4 Hospital in the southwestern city of Chengdu (which imposes travel restrictions and mandatory tests for mobile phone users who strayed within 800 meters of a confirmed case for more than 10 minutes), believe that the program results in “an overuse of medical resources, growing public panic and the disruptions of people’s normal life and work”. “We should consider the sustainability of these measures,” the doctors said.

Source: BBG

The doctors’ criticism highlights the “growing challenges” faced by the Chinese government as it attempts to stick with its “zero COVID” containment strategy despite repeated outbreaks of the delta variant and other variants that have been repeatedly covered up by Beijing’s increasing restrictions on reporting.

Despite early resistance to the notion, the US and European mainstream media have apparently decided that a commitment to complete eradication of the virus is now “excessive” – at least when China does it.

Yanzhong Huang, a public health policy expert at the Council on Foreign Relations in New York, said Chengdu’s measures were “excessive” and reflected ‘poor risk assessments by the authorities’.

The Chinese government, Huang added, seems to believe that the country’s only two options are “zero cases or… [a] worst-case scenario where the entire healthcare system is overwhelmed and social stability is undermined.”

Does that sound familiar?

For context, Singapore, one of the world’s most active adopters of contact tracing, considers people “close contacts” of the infected only if they come within two meters of a confirmed case, a much smaller margin than Beijing’s 800M.

Although, before Beijing doubles down (publicly, at least) on its insistence that COVID cases can be brought completely to heel, perhaps they should tell their lab-hands in Wuhan to stop tinkering first.

end

TAIWAN/EU/CHINA

 

CHINA///USA

 

4/EUROPEAN AFFAIRS

 

EU//VACCINEMANDATES//EUROPEAN STATE OF AFFAIRS //TOM LUONGO

This is a must must read

(Tom Luongo)

Luongo: Have We Finally Reached Peak Davos?

 
 
WEDNESDAY, NOV 24, 2021 – 05:00 AM

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

If you look around the headlines from the past week or so, you will see a startling similarity among them.  Coming in from all over the world are mandates from one country’s government after another instituting medical apartheid over the COVID-9/11 jab.

Where these restrictions are the most draconian are within the walls of the European Union, that region where The Davos Crowd’s influence is undoubtedly the strongest.

Latvia will bar unjabbed legislators from voting.  Slovenia made the jab mandatory to go to the gas station. Austria’s new Chancellor, who’s been on the job for around a month, is now fining and arresting the unjabbed for even leaving their homes.

A month ago this guy was a minor political hack in a mostly irrelevant central European country, now he’s issuing orders like he owns the place. Unfortunately, for most of Europe, that is actually the case, if not in name but in practice.

The list goes on and on and on — Greece, Italy, the Netherlands, just to name a few.

To describe this behavior as Orwellian is a kindness.  We’re closer to Terry Gilliam’s nightmarish bureaucracy of Brazil than we are Orwell’s 1984.  

At the same time, you have to squint really hard to find any mention of the massive protests in these same countries against these mandates. But, the videos flow freely around the internet if you are willing to look for them.

The protests in Rotterdam turned violent on Friday when two people were shot dead by police during the mayhem. Rome was literally overflowing with people on the streets saying no to this arbitrary and indefensible stratification of society.

Vienna saw police stand down and join the protestors.

In short, I’m seeing a whole lotta #Ungovernables out there and they are growing in number not falling.

I’m pretty much incompetent when it comes to Twitter but this may be the most trafficked of any tweet of mine ever:

To even contemplate turning an entire country into a patchwork of leper colonies over a nasty cold is indicative of the sickest mind, to agree with doing so makes you a party to crimes against humanity, and to pull a paycheck to enforce it the very definition of evil itself.

These mandates are coming because of the massive uptick in COVID-9/11 cases in all of these places where the experimental mRNA gene therapies were deployed en masse. Where the jab is job one, the infection rates are growing exponentially.

The worry over COVID-9/11 and its destabilizing effects on society have infected even the most sober and thoughtful world leaders on the subject, like Russian President Vladimir Putin. Putin, in recent appearances, looks openly angry and puzzled that the virus was not defeated and the rate of mutation making public policy a difficult maze to navigate.

He just publicly offered himself up as a guinea pig for the latest booster for the country’s successful adenovirus therapy, Sputnik V, to help enhance Russia’s ability to fight off the disease. Unlike the mRNA therapies, the rate of complications with it are very low and if anything seem to, at worst, offer no added benefit.  (Harvey: the Sputnik V is a lousy vaccine with no benefit whatsoever, in stopping the virus)

Putin would be better served promoting prophylactics rather than the jab, but there it is.

The problem here is the authoritarian mindset. It cannot let go of the idea that some things are truly beyond their control and that some events like these are ‘in god’s hands.’ I hope Putin and others like him remember that in the coming days and restrain themselves leaving the jab, any jab, a choice out of respect for life itself.

But the title of this piece asks a question that seems incongruous given the full spectrum blitz for power that Davos and their minions are putting on.

Have we reached Peak Davos?

I think we have but that doesn’t mean things get better from here, only that this is as much pressure as they can bring to bear and it will either work or it will be clear that it will fail, albeit very messily.

So, let’s start with the obvious. Places like Austria, Australia, and even Italy will not go along with this. The sizes of the protests grow daily and as the desperation on both sides grows any further attempts at control will be met with violence, regrettably. Hopefully, we see more scenes like I linked above rather than what I fear is more likely.

But, let’s back out a bit further and discuss the failure of COP26.  This article by Rupert Darwall of RealClearEnergy.com focuses too much on the failure of Boris Johnson’s government to land the necessary body blows to gather the international cats to come together on Climate Change, but the results from Glasgow were pretty obvious.

No amount of schmoozing and glad-handing will overcome the enlightened self-interest of nations (or people) to destroy their energy production (society).  This time it was China and India watering down the language of the COP26 statement to the point of irrelevancy.

Because energy production is the basis for civilization itself. The entire Climate Change scam is nothing more than an attack on civilization.

The dissenters at COP26 showed their power within the global community and without their firm commitment to ending burning coal to produce a flow of electrons there was no way everyone else would fall into place.

That said, however, these same two countries are happy to go along with population control measures we’re seeing in Europe. Because both governments understand that the amount of economic damage done because of COVID-9/11 will bring inevitable social unrest. So they may not be implementing these controls in service of Davos per se, only to save their own miserable hides.

China is far more advanced on this front than even Europe is.  But to see India, as Martin Armstrong talked about recently, using Climate Change as an excuse to lock people down is outrageous.

It goes to show that while Prime Minister Narendra Modi may be Davos-affiliated, he’s also smart enough to know that he can pick and choose from their mandates to serve his interests best.

This is what I’ve meant in the past about seeing the fraying of Davos’ various factions (covered in this podcast from June).  When members of the cartel think for themselves eventually the cartel collapses.  India would only issue an order like this because, as Armstrong rightly points out, they are worried about civil unrest from economic collapse.

But that doesn’t mean that Modi will get rid of the coal plants because he knows that stable electricity and heat are the surest ways to minimize the civil unrest.   Catch meet 22 for Davos.

A lot of world leaders will begin seeing this same light as we move into 2022.  Their power still rests on the consent of the governed.  It’s a race against time now for Davos.  From the death of COVID-9/11 as a thing to justify our compliance to the various factions seeing their opportunities to take advantage for their own gain(Wall St. for example), the balance of power globally could shift quickly.

China’s Evergrande policies are a major source of market instability right now — See this interview with Mittdolcino.com I just published explaining how all these parts fit together. China forcing property developers into default, like Evergrande, is enhancing the demand for dollars and yuan and the best place to pull them from is Europe, whose leadership is on a collision course with hyperinflation and debt default.

The crashing euro alongside a strengthening dollar and yuan means that Europe is getting torn apart at the seams.  It means inflation there is going to skyrocket with the next round of CPI numbers and Christine Lagarde will look even sillier than the last time she tried to sell her bullshit to the world at the recent ECB policy presser.

Davos couldn’t pull the world together in Glasgow.  So, they are now going full court press for control where they can over COVID-9/11 jabs.  The two issues are inextricably linked.

Let’s take this one step further. They haven’t gotten rid of Powell at the Fed, yet.  They may not get the “Build Back Better” bill through this Congress. The rising dollar is torpedoing their plans for hyperinflation of energy prices.

Even the major oil companies see the writing on the wall.  

Royal Dutch Shell (NYSE:RDS.A) just announced a complete corporate restructuring to move the company’s domicile out of the European Union and fully into the U.K. to avoid the insanity of the EU’s ESG requirements.

Shell lost a recent court ruling from the Hague and it responded by taking its company out of its homeland and removing any traces of Dutch from its name.  The new company will be called Shell Energy.  Shell is playing a waiting game against Davos now. 

And when a company as politically connected as Shell makes a move like this you know the pressure is lifting.  I’ve covered them for years and they’ve always been ahead of the political curve, knowing where things were headed and where to pull out of.

So, while Shell may make noise publicly about phasing out ‘fossil fuels’ and all that rot to satisfy the ESG jackals, their actions were to extend the life of its primary business by avoiding the “pass a law, make reality” chaos of the unelected EUSSR Commissars.

This is why I’m now considering “Peak Davos” as potentially real.  If I’m right, this means their power is at its maximum, yet they still have tremendous inertia on their side.  Both China and Russia are taking full advantage of the chaos they are creating.

But, what’s clear to me now is this is what the worst case scenario looks like; chaos around the globe with a patchwork of mandates being implemented amidst massive resistance and enforced economic ruin driving world leaders to the brink of war.

Don’t think for a second both Xi and Putin don’t understand this dynamic.

At the same time, however, Davos has failed to overcome the enlightened self-interest of the developing powers they thought they could co-opt politically through the application of funny money. Remember George Soros recently calling Xi ‘the devil’ himself? Do you think he’s got money and agents in China he can’t extract from there?

That’s why I think the key here in the U.S. will be the next few weeks leading up to the December 3rd drop dead date for the debt ceiling.  Pelosi will try one last time to use it to blackmail Cocaine Mitch to cave and pass the Build Back Better bill, designed to destroy the U.S.’s economic future.

There seems to be just enough internal resistance within the U.S. political scene to keep this from happening. And McConnell has to know his days are numbered regardless.

The bond markets are beginning to smell a rat.

If Pelosi fails and has to raise it on her own without the BBB bill signed, then the Democratic party collapses completely in 2022 as all of their leverage over the Republicans and the Fed vanishes as we enter the primary season for the mid-term elections.

We will see defections within Congress as Pelosi’s speakership fails. If she succeeds then we push towards a future with a compromised U.S. facing a two-front war with Russia and China whom both feel the EUSSR is a party to and will punish accordingly.

If that isn’t a signal of Peak Davos, I don’t know what would be.

 

Categories

end

I brought this to your attention two days ago and I am working diligently trying to verify.

This will prove that Pfizer will be guilty of crimes against humanity.

Hal Turner …

Vaccine Scandal in Slovenia – Bottles have Code #’s for Placebo, Vax, or KILL SHOT

https://halturnerradioshow.com/index.php/en/news-page/world/vaccine-scandal-in-slovenia-bottles-have-code-s-for-placebo-vax-or-kill-shot

 
Vaccine Scandal in Slovenia - Bottles have Code #'s for Placebo, Vax, or KILL SHOT

Word is coming out of Slovenia that, if verified, will cause an unimaginable world reaction.

On Saturday 20 November, the Chief Nurse of the University Medical Center, Ljubljana Clinical Center, (pictured above, who deals with the administration of vaccine vials and manages everything, quit her job, went in front of TV cameras and took out vaccine bottles.

She showed the gathered journalists the codes on the bottles, each with the final number 1, 2, or 3 in the code, and then explained the meaning of these numbers:

Number 1 is placebo, saline.

Number 2 is the classic mRNA “vaccine”

Number 3 is an RNA stick containing the ONC gene, related to adenovirus, which contributes, among other things, to the development of cancer.

For these who get jabbed from vial whose code ends in the number 3, she says people who received them will have soft tissue cancer within 2 years.

She said that she had personally witnessed the vaccinations of all politicians and tycoons and that they all received the preparation number 1 

The media has been told to absolutely bury this story and fierce efforts at containing this information are underway right now.

More details if they become available.

AUSTRIA
 
SPECIAL THANKS TO JOHN B. WHO SEND THIS TO US

why aren’t people protesting the forced vax

JUST LOOKS AT THE HUGE TURNOUT IN VIENNA TODAY

 

end

 

GERMANY//

Olaf Scholz is to become Germany’s next Chancellor

(zerohedge)

Olaf Scholz To Become Germany’s Next Chancellor After Clinching “Traffic Light” Deal

 
WEDNESDAY, NOV 24, 2021 – 09:15 AM

After weeks of negotiations, the Germans have made a show of functioning democracy despite rumors that vaccinations will soon be made mandatory across Europe’s largest economy. According to the FT and a handful of other media outlets, the leaders of Germany’s three biggest parties are expected to form a “traffic light” coalition.

Assuming it is approved by the rank and file of all three parties, the deal will eventually lead to Social Democrat Olaf Scholz taking over as chancellor from the CDU’s Angela Merkel when her nearly two-decade reign comes to an end.

Fortunately, despite mockery in the German press about the degree to which the SPD and the FDP (the Free Democrats) have gone to show a united front, it looks like the peace has generally held, and talks that took more than 5 weeks and involved nearly 300 negotiators have finally reached a conclusion. As we said above, the new government will leave Scholz to take over as chancellor from Merkel, while the FDP’s leader Christian Lindner will be set to become the new finance minister, something many analysts believed would be required to win the FDP rank-and-file’s support for a deal.

Finally, the Greens are expected to be “rewarded” with two major ministries for their own leaders, Robert Habeck and Annalena Baerbock: A new economy and climate ministry for the former, and the prestigious foreign ministry for the latter.

The new government’s most urgent priority will be to stem a pandemic that is threatening to overrun Germany’s hospitals. Authorities reported 66,884 new coronavirus infections over the past 24 hours, a new record, while the incidence rate per 100K people over the last 7 days has exceeded 400 for the first time since the COVID outbreak began.

The “traffic light” coalition was named for the sake of the parties’ three colors – red for the SPD, yellow for the liberal Free Democrats FDP and green for the Greens.

According to the FT, this will be the first such alliance on a national level in Germany’s history and is expected to end squabbling over climate change at the top of its agenda. A key goal will be to bring forward Germany’s phase-out of coal, which is presently set for 2038.

All three parties said their chief negotiators would meet in Berlin on Wednesday for a final round of talks before unveiling their coalition agreement at 1500 local time.

After initially serving as mayor of Hamburg, Scholz became finance minister in 2018 and initially pursued the same fiscally cautious policies as his predecessor Wolfgang Schäuble. However, when the pandemic hit, he opened the spending taps to help industry and business in what was widely regarded as Europe’s most generous emergency aid program. Some praised the deal as a testament to Scholz’s skills as a negotiator.

Following the September elections, the Social Democrats finished first past the gate, leaving Scholz in pole position to lead the new government.

The SPD and FDP will hold party conferences to approve the coalition deal while the Greens will put it to a vote of all the party’s members. If all three parties give the deal the “green light” – so to speak – the new government will be sworn in by the Bundestag early next month.

end

GERMANY

German new leader Scholz has already rejected a Merkel request for a further 2 week lockdown

(zerohedge)

Germany’s New Leaders Shockingly Reject Merkel’s Request For 2-Week Covid Lockdown

BY TYLER DURDEN
WEDNESDAY, NOV 24, 2021 – 10:41 AM

Germany’s new “traffic light” coalition – which we discussed earlier – is not even a day old and yet it appears its new leader, current Merkel finance minister Olaf Scholz, has already made a decisive break with the previous boss over what Scholz has described as one of Germany’s most important domestic policy issues: the handling of the coronavirus pandemic particularly the “4th wave” of the virus that has sparked panic, leading to demonstrations in Germany and across the EU.

According to Bild, which is a tabloid so take it with a mountain of salt, Germany’s incoming government has turned down a request by Merkel to impose a two-week “lockdown for all” immediately following her departure.

The plea was rejected by representatives from the Social Democrats, Greens and fiscally conservative NFP who met with Merkel Tuesday evening in the chancellery, presumably after giving the Chancellor the signal that negotiations were just about to wrap up after more than 5 weeks of talks.

Most Germans have long presumed that Scholz would likely emerge from the talks as the new chancellor, after emerging from federal elections in September in what some described as “poll position” to lead the next government.

It now appears as if Germany finally has a leader who puts personal liberties and right over the demands of the pharma lobby and whatever The ScienceTM is paid to declare on any given day.

As we reported earlier on Wednesday, Scholz has managed to bridge the ideological divide between the Greens and the conservative FDP to create Germany’s most inclusive government in recent memory. With an unprecedented three-party coalition, Scholz has managed to bring about the end of nearly two decades of center-right rule by shifting Germany’s political framework all the way to the…center-left.

Although at this point, it’s difficult to say much about the perspective of Scholz’ new government, which already appears to be taking on a more centrist, utilitarian approach.

As we explained earlier, Scholz will take over as chancellor, while the FDP leader Christian Lindner will take over Scholz’s old job as finance minister. The greens expect to be “rewarded” with two major ministries for their own leaders, Robert Habeck and Annalena Baerbock: A new economy and climate ministry for the former, and the prestigious foreign ministry for the latter.

Scholz said Wednesday that Germany would consider a vaccination mandate for “some groups”, but he didn’t elaborate much on what he meant by that.

Demonstrations against new virus restrictions were observed in Austria, Croatia, Italy, Northern Ireland, the UK, France, Germany, and the Netherlands over the weekend.

UK/SCOTLAND/VACCINE MANDATE

How stupid can one get:  Scottish Government vax passport system is sending people’s private dat to Amazon and Microsoft

(Watson/SummitNews)

Scottish Government’s Vax Passport Sending People’s Private Data To Amazon, Microsoft; Report

 
WEDNESDAY, NOV 24, 2021 – 02:00 AM

Authored by Steve Watson via Summit News,

As if the liberty erasing connotations of vaccine passports were not enough on their own, it has been revealed that the Scottish government has allowed data from the scheme to be shared with private companies including Amazon.

The Daily Record reports, “We have learned the NHS mobile phone app which presents the personal medical information in the form of a QR Code shares data with companies including Amazon, Microsoft, ServiceNow, Royal Mail and an AI facial recognition firm.”

Users of the vaccine passport app were not informed their data would be shared, according to the report.

Commenting on the findings, Sam Grant of privacy advocate group Liberty warned “Vaccine passports create a two-tier society and already many people in Scotland have been coerced into getting a vaccine passport in order to attend events and access certain parts of society.”

Grant added, “It’s extremely concerning that, in doing so, data has been shared with third parties without people having the option to opt out or without even being made aware that this is happening. This only furthers the wide concerns people already have around vaccine passports.”

The leader of the Scottish Liberal Democrat party, Alex Cole-Hamilton, also stated that his party “have repeatedly warned the Government that data protection is virtually non-existent – a simple screenshot was enough to bypass whatever ‘security measures’ the system had in place.”

“The launch was a shambles and the IT system struggled to cope,” Cole-Hamilton explained, adding “Everyone has the right to medical privacy; nobody should ever have to provide part of their medical history to a bouncer or a series of private companies. That is just simply absurd.”

Silkie Carlo, the head of another Privacy advocate group, Big Brother Watch, explained Monday why the vaccine passports are a total failure in Scotland:

The British government has consistently lied about the introduction of vaccine passports:

Government data, and peer reviewed studies, show that the vaccinated are just as likely to spread the virus as the unvaxxed.

That being the case, the case for vaccine passports has been completely demolished:

*  *  *

END

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

 

RUSSIA/UKRAINE/USA

USA and Russia military chiefs hold a “deconflict” call as things start to heat up in the Ukraine.

(zerohedge)

US, Russia Military Chiefs Hold Urgent “Deconfliction” Call As Ukraine Crisis 2.0 Looms

 
TUESDAY, NOV 23, 2021 – 11:20 PM

The heads of the Russian and United States militaries held a rare and urgent phone call on Tuesday in efforts to deescalate soaring tensions in eastern Europe, with both sides cryptically confirming it was to discuss “current” international security issues. 

Russia’s most senior military general, Valery Gerasimov, held the call with US Chairman of the Joint Chiefs of Staff Mark Milley, in which the two top generals talked about “pressing issues of international security”. The past days have witnessed heightening rhetoric and threats being exchanged between Moscow and Washington over tensions in Ukraine and Belarus, especially given recent reports from US media over a Russian force build-up and planned “invasion” of eastern Ukraine, reports which the Kremlin has vehemently denied. 

The US side’s readout of the call acknowledged it was for the purpose of rapid “de-confliction” between the two superpowers, also coming the same day CNN reported the Biden administration is now mulling additional weapons and military trainers for Ukraine. 

Image via AFP

No additional details or specifics of the military-to-military call were revealed; however, it was without doubt related to a building new Ukraine crisis, following the US allegations of a massive Russian troop build-up near Ukraine for a potential imminent invasion

At the start of this week it was revealed that the Biden administration was reported to have briefed the European partners that Russia on the supposed planned invasion of eastern Ukraine. The Kremlin has been fierce in its response rejecting the accusations, with some thinly-sourced Western reports suggesting as many as 100,000 active duty Russian troops and reservists were being mustered for a major offensive operation. 

A report in US News and World Report that tensions are fast approaching a breaking point, leading to the potential for a ‘Ukraine crisis 2.0’ amid the tit-for-tat accusations

Through a series of public statements and posts through its state news services, leaders in Russia on Monday presented the unified case that Ukraine was needlessly deploying its military forces to challenge Russia’s sovereignty and its nearby interests, that rising concern in the West of military action by Moscow represents only an attempt by Kyiv to mask its own intentions to do so, that the Western-backed peace process for the conflict in Ukraine is broken and that Kyiv’s allies in Europe and North America are not prepared to back up their pledges of support.

Just prior to the Tuesday military deconfliction phone call between the US and Russia being revealed, on Tuesday Russian Defense Minister Sergey Shoigu said that US nuclear-capable bombers had drastically ramped up their flights across Eastern Europe, close to Russia’s border. 

Earlier this month, on Nov.10, Russia had sent its own strong message by flying a pair of Tu-22M3 bombers along Belarus’ border with the EU, amid the ongoing migrant crisis standoff between Belarus and Poland. This was combined with verbal warnings from Putin and Kremlin officials that NATO must not cross Russia’s “red lines” in Ukraine. 

end

RUSSIA//UKRAINE

Militaries on alert!

Russia & Ukraine’s Militaries ‘On Alert’, Raise Stakes With Rival Combat Drills

 
WEDNESDAY, NOV 24, 2021 – 01:00 PM

Both the Russian and Ukrainian armies have staged rival combat drills in and near the Black Sea on Wednesday as both countries and their allies are on edge over accusations coming from the West of a major Russian troop build-up readying for an offensive on eastern Ukraine, which the Kremlin is vehemently denying. Ukraine’s military days ago said a Russian offensive could come as early as January. 

“Russia staged military drills in the Black Sea, south of Ukraine, on Wednesday and said it needed to sharpen the combat-readiness of its conventional and nuclear forces because of heightened NATO activity near its borders,” Reuters reports of the new combat maneuvers. 

AP archive image: Ukrainian helicopters fly over a Russian warship during Sea Breeze 2021 maneuvers last July.

The drills were described by the Russian defense ministry as featuring fighter jets and naval ships repelling air assaults on naval bases on the black Sea, as well as countering with offensive strikes on mock enemy targets. 

Defense Minister Sergei Shoigu was cited as saying of the fresh drills meant to send a tough message not only to Kiev but to Washington and NATO that heightened military readiness in the region is needed due to “the complicated military and political conditions in the world and the growing activity of NATO countries near Russia’s borders“.

In particular the Russian defense ministry had on Tuesday described that the US had engaged in mock nuclear runs against Russia as a target. He said “this month, during US strategic forces exercise Global Thunder, ten strategic bombers practiced the option of using nuclear weapons against Russia almost simultaneously from the Western and Eastern directions.”

And on Ukraine’s side, it’s defense leaders earlier detailed of ongoing drills:

The drills involved airborne troops and armored personnel carriers and ​simulated an attack on an enemy target, Ukraine’s defense ministry said Monday. The ministry’s statement was accompanied by footage showing the landing of troops supported by helicopters and other aircraft.

Growing NATO military activity and flights have also been observed in relation to the EU standoff with the Alexander Lukashenko government of Belarus over the migrant crisis at the Polish border.

All of this muscle-flexing stems mostly from earlier allegations from both US and Ukrainian government officials of a major Russian troop build-up near the Ukrainian border, though the Kremlin has countered that it’s able to maneuver its troops within Russia’s own sovereign borders and it doesn’t mean anything threatening toward neighbors. As Reuters notes further, the accusations have grown more and more specific over the past week:

The head of Ukraine’s military intelligence told the Military Times outlet this weekend that Russia had more than 92,000 troops massed around Ukraine’s borders and was preparing for an attack by the end of January or beginning of February.

The Kremlin has lambasted the charge as a “smokescreen”, with a recent official statement from spokesman Dmitry Peskov saying the US and its allies are likely trying to “camouflage aggressive intentions in Kyiv to try to solve the problem of the southeast by force.”

Alarmingly, on Tuesday Russia’s defense ministry informed China that NATO’s military posturing over Ukraine and increased US nuclear-capable bomber flights over eastern Europe is a serious threat to China too.
END

What is wrong with these idiots?….

(zerohedge)

Biden Mulls Sending Extra Weapons & Trainers To Ukraine Amid Dubious Reports Of “Russian Invasion”

 
 
WEDNESDAY, NOV 24, 2021 – 03:47 PM

Here we go again: the ratcheting tit-for-tat threats currently being unleashed between Moscow and Washington arguably hasn’t been this intense since the height of the Donbass conflict of years ago, and the Crimea crisis. It’s leading to the Biden administration mulling ramping up arms transfers to Kiev.

CNN on Tuesday is citing multiple defense sources to report “The Biden administration is weighing sending military advisers and new equipment including weaponry to Ukraine as Russia builds up forces near the border and US officials prepare allies for the possibility of another Russian invasion.”

Image: Moscow Times

And yet as we’ve reviewed, there’s still as yet little to nothing in the way of hard evidence that Russia is setting in motion any kind of plans to “invade Ukraine” – as Bloomberg last week first reported based on anonymous US sources. Much of the speculation appears based on satellite images of Russian troop movements taking place significantly far from Ukraine’s border, with Moscow’s constant refrain to the West being that it can move its own troops within Russia’s sovereign borders wherever it wants to.

But this new US plan to not just send more military hardware – but also US military advisers – would mark a serious escalation, as the Kremlin has recently warned it would see any kind of NATO forces buildup inside Ukraine as violating its “red lines” which would require taking action.

According to the fresh CNN report, the proposed lethal aid package now under consideration by the White House could include stinger missiles – which Moscow would without doubt consider a severe escalation

The discussions about the proposed lethal aid package are happening as Ukraine has begun to warn publicly that an invasion could happen as soon as January. The package could include new Javelin anti-tank and anti-armor missiles as well as mortars, the sources said.

Air defense systems, such as stinger missiles, are also under consideration, and the Defense Department has been pressing for some equipment that would have gone to Afghanistan — like Mi-17 helicopters — to instead be sent to Ukraine. The Mi-17 is a Russian helicopter that the US originally purchased to give to the Afghans. The Pentagon is now weighing what to do with them after the US withdrawal from Afghanistan in August.

And in particular the Javelins are seen as deadly and effective against Russia’s T-80 tanks. Recently, Moscow has accused pro-Ukrainian forces of heightened attacks on pro-Russian separatists in Ukraine’s east over the past months, which has included multiple deaths from sporadic mortar fire.

The past year has seen NATO military exercises utilize closer Ukrainian army and naval participation…

Already in response to the rumors and reports of more US weapons and trainers sent to Ukraine, Russia is responding with threats of its own to send its weapons into eastern Ukraine. 

Kremlin spokesman Dmitry Peskov said, “we shouldn’t rule out the possibility of sending military advisers and weapons to Ukraine, because this is already taking place. Military advisers are arriving there, weapons are supplied there — not only from the United States, but also from other NATO countries. And all this, of course, leads to a further aggravation of the situation on the border line.”

Previously on Monday the Kremlin vehemently denied the Western reports of any planned-for “invasion”, with government spokesman Peskov explaining that currently the Russian military is merely engaged in the “usual background level” of military maneuvers – similar to the training drills that ended up generating false reports last April and May of a “planned Ukraine invasion”. That prior situation, like the current one, involved Russian troops and weaponry being observed at least 60km from the actual Ukrainian border, and not along it.

During the statement, Peskov actually turned the charges back on NATO, saying, that in Ukraine “The number of provocations has increased significantly and these provocations are conducted using weapons delivered by NATO.” He blamed Kiev and its backers for the soaring tensions, calling its own military build-up “alarming” – thus each side appears to be ramping up troop readiness based on accusing the other of a “build-up” of forces. 

* * *

Rabobank asks the necessary question, what could go wrong?…

One can see how this can easily go wrong: and by arming Ukraine,but with nowhere near enough to stop a determined Russian invasion(?), the West can be seen as incentivizing such action. Pray tell, what is the correct monetary-policy response if the worst happens, and energy and food prices soar further, while the US finds itself dragged into an expensive conflict? While Europe of course won’t fight in its own backyard (the very thought of it!), one hopes they have enough thick jumpers and blankets to get through a winter with no Russian gas while locked down.   

TURKEY

The crashing lira forces Apple Inc to no longer allow the purchase of devices from official stores

(zerohedge)

Apple Customers In Turkey Can No Longer Purchase Devices From Official Stores After Lira Crashes

 
WEDNESDAY, NOV 24, 2021 – 10:54 AM

Authored by Katabella Roberts via The Epoch Times,

Apple has temporarily halted online sales of some of its devices on official stores in Turkey after the country’s currency, the lira, crashed 15 percent on Tuesday against the dollar.

Currently, consumers looking to purchase Apple products including iPhones and Macs from the official Apple store in Turkey are able to view the products on the website. However, customers are unable to add the devices to their virtual shopping cart at this time.

Consumers can, however, still view and purchase such products from popular e-commerce sites in the country, including Hepsiburada and Trendyol. Apple has not officially announced that it has temporarily suspended sales in the country and it is unclear when consumers will be able to purchase the company’s products again.

The Epoch Times has contacted an Apple spokesperson for comment.

It comes after the Turkish lira nosedived 15 percent on Tuesday in its second-worst day ever after President Tayyip Erdogan, who has led the country since 2003, said that he would not be deterred by rising inflation and defended recent sharp rate cuts, declaring an “economic war of independence.”

The currency has fallen 45 percent this year, including a near 26 percent decline since the beginning of last week, largely in response to a series of interest rates cuts by the central bank governor, Sahap Kavcioglu.

Erdogan has put pressure on the central bank to slash interest rates in a move he firmly believes will boost exports, investment, and jobs within the country. But critics fear this will further erode the lira, and trigger further inflation, which currently stands near 20 percent in the country.

Many economists have called the rate cuts reckless and urged the president to reverse course, while opposition politicians have appealed for early elections, which are set to take place in 2023.

Soaring inflation levels have already had drastic impacts on everything from the cost of basic goods to rental prices in Turkey, the latter of which have surged to new heights—with some regions seeing average prices shoot up 100 percent—and left hundreds struggling to afford rent.

As a result of rising inflation and the subsequent increase in the cost of goods, Turkey’s population of roughly 85 million has also seen their local currency salaries severely devalued and many are now left searching for second jobs to keep themselves and their families afloat.

“There has not been such a catastrophe in the history of the Republic,” said Kemal Kilicdaroglu, leader of the opposition Republican People’s Party.

“At this point, you are a fundamental national security problem for the Republic of Turkey,” Kilicdaroglu said, referring to Erdogan.

The central bank, which has slashed rates by a total of 400 points since September, is yet to comment on the lira’s plunge.

Former central bank deputy governor Semih Tumen, who was dismissed by the president last month in yet another last-minute leadership overhaul, called for an immediate return to policies that protect the lira’s value.

“This irrational experiment which has no chance of success must be abandoned immediately and we must return to quality policies which protect the Turkish lira’s value and the prosperity of the Turkish people,” he said on Twitter.

On Monday, Erdogan defended his policy and vowed to stick with it, while maintaining that high interest rates would not lower inflation levels, an unorthodox view he has repeated for years.

“I reject policies that will contract our country, weaken it, condemn our people to unemployment, hunger, and poverty,” he said after a cabinet meeting.

end

TURKEY/HYPERINFLATION KINDLED

Hyperinflation In Turkey: Wine Prices Up 15% In One Day, Chicken And Cheese Up 10%

 
WEDNESDAY, NOV 24, 2021 – 03:22 PM

A few days ago we joked that with the lira collapsing at a record rate that would make Rudy von Havenstein and Gideon Gono blush, it was Turkish president Recep Erdogan’s secret grand plan to unleash hyperinflation in Turkey, and to wipe the country’s lira-denominated debt clean (foreign-denominated debt is a different matter).

Unfortunately, it turns out that this actually was not a joke, and as Turkey’s currency collapses – and will continue to collapse until either i) Erdogan is gone or ii) he reverses his uniquely insane brand of economic orthodoxy known as Erdoganomics according to which lower yields rates in lower inflation – Turkey’s prices are now literally hyperinflating with wine up 15% in a day, chicken by 10%, gasoline surging…

  • *TURKEY TO RAISE GASOLINE PRICE BY 1.02 LIRAS/LITER: EPGIS

… and virtually every other good and service up in the high single or double digits.

And not surprisingly, as a producer from Britain’s Sky found on the ground today, Istanbul’s sky is as gloomy as the mood in the households and on the streets of Turkey.

As Sky reports, prices had already hiked during the pandemic: over the past 18 months, while packaged goods shrunk and prices soared, there was not a single empty shelf. Compared to the western world, Turks prided themselves with not having to fight for toilet paper or masks.

But today the recent change in interest rates policy and the unorthodox economic strategy is impacting the exchange rate sinking the national currency to an all time low. Turks may not earn their wages in foreign currency but their currency is melting like ice on a summer day and prices increase by the week. And it feels like it is nearly every day.

As Sky’s Guldenay Sonumut reveals, “a bottle of wine I bought the day before had increased by 15%. It is hard to keep up.”

Ibrahim Koksal is a tiny shop owner in Yeniköy. He has a tiny “bodega” store that sells as many items as possible from cigarettes to batteries as well as fast food he cooks on the go. Running from his food stall to his cashiers’ desk all with a smile.

He has been a small shop owner since 1993 and admits the price increases have hit him, his household and his business as well as his customers.

“I cannot reflect the 10% increase from this morning on the chicken and cheese I use in my sandwiches.

“Because the business is so slow, it would scare off my last customers,” he tells me very honestly. “I have to create some turnover but I am losing from my profit”.

Ibrahim supports the president’s policy despite struggling to make a profit

Paradoxically, even though it means his financial ruin, Ibrahim supports Erdogan’s financial policies. When asked about what he thinks the reason for the current economic situation is, Ibrahim says: “Our neighbors are jealous. This is what I think”. He repeats President’s Erdoğan’s rhetoric of waging an independence war. It will demand time and sacrifice, a sacrifice he is prepared to make.

Actually it has nothing to do with Turkey’s jealous neighbors, and everything with Erdogan’s systematic plunder of his country which according to some is in the billions and which has left the country facing an all out financial, economic and monetary collapse coupled with bank runs and – now – hyperinflation.

Still, when one is brainwashed, nothing matters: Ibrahim does not believe in an early election or the ability of the opposition parties to handle the task. Ibrahim says Erdoğan is working for the country against everyone – and he stands by him.

Meanwhile, Turkey’s economy is disintegrating.

Sonumut then met 41-year old Özgür who owns a jewellery shop on the main Street in Yeniköy. The Sky producer was the second person who entered the shop in an hour. For Özgür, he is witnessing the slowest business since during the pandemic.

“I have made half of what I usually earn this last month. The price fluctuation between yesterday and today is over 10%.

“This is untenable. In my professional life I have never seen anything like the last 10 days we went through. Our customers do not know what to do. They are waiting to see what will happen.”

Jewellery shop owner Özgür says business is slower than during the pandemic

Özgür is slightly more rational than his bodega-running buddy: he says there is a definite need for stability, and a need to stop the obstinate stand with the interest rates. Does he think an election would be the solution: “I think we may see an election this summer. I think if the opposition gets elected there might be some easing of the tensions. But we need to come back to stability.”

It is a sentiment shared by everyone in supermarkets, shops, pharmacies – the conversations are one of worry of the unknown.

Many feel free to voice their worry like Özgür or Ibrahim, but the everyday housewife does not want to answer any questions, “Don’t you see what is happening?” they all say.

Indeed, it’s pretty clear what is happening – the economic death of a country because its authoritarian ruler will drag the entire country down with him.

As Sky concludes, in a matter of weeks, “shopping carts have suffered from the price hikes.” People feel they are paying twice the price and get half of what they used to buy. “They want to go back to how it was.”

According to Erdoğan, a positive impact will be felt in a few months but there is a very tough winter ahead.

6.Global Issues

CORONAVIRUS UPDATE

World leading cardiovascular journal, “CIRCULATION” has just published an extremely important paper showing the the vaccines dramatically increase inflammation of the heart.  I brought this to your attention two days ago but it is worth repeating. This is the first major journal in the mainstream to categorically state that the vaccines are killers. The article is peer reviewed!

(CIRCULATION/the American Heart Association)

 

World’s Leading Cardiovascular Journal Publishes Study Showing Covid Vaccines ‘Dramatically Increase’ Inflammation Of The Heart – Gemma O’Doherty Investigative Journalist Ireland

END

From Vaccine Impact//same story as above…

American Heart Association Journal Publishes Data that UK Medical Doctor Claims are “Proof” that COVID-19 Vaccines are “Murder”

end

USA COVID deaths in 2021 has surpassed 2020 despite high vaccination rates.  Interestingly enough low vaccination rate countries are experiencing lower Covid deaths.

(zerohedge)

US COVID Deaths In 2021 Have Surpassed 2020’s Total… Despite Vaccines, Treatments

 
TUESDAY, NOV 23, 2021 – 06:00 PM

COVID-19 has killed more people in 2021 than 2020.

The virus was reported as the underlying cause of death (or a contributing cause of death) for an estimated 377,883 people in 2020, accounting for 11.3% of deaths, according to the CDC. As of Monday, more than 770,000 people have died from the coronavirus, according to Johns Hopkins University data. That means over 15,000 more people have died in 2021 than last year from COVID-19 – and there’s still more than a month left.

This has happened despite the fact that last year no Americans were vaccinated (now 59% of all eligible Americans have had the “life-saving” jab) and some 17% have received booster shots…

The 2021 U.S. death toll caught some doctors by surprise. They had expected vaccinations and precautionary measures like social distancing and scaled-down public events to curb the spread of infections and minimize severe cases. But, The Wall Street Journal has its own explanation, suggesting lower-than-expected immunization rates as well as fatigue with precautionary measures like masks allowed the highly contagious Delta variant to spread, largely among the unvaccinated, epidemiologists say.

Among missteps, Dr. Abraar Karan, an infectious-diseases doctor at Stanford University, said, public-health officials failed to effectively communicate that the purpose of vaccines is to protect against severe cases of Covid-19 rather than to prevent the spread of infection entirely, which may have led some to doubt the effectiveness of the shots.

CDC has an excuse too, claiming that there was a larger undercount of Covid-19 deaths in 2020, when the disease was newer and a scarcity of tests made confirming some infections difficult.

Deaths remain concentrated in older people (81% of 2020 deaths were among people aged 65 and above, and 69% of the same cohort in 2021).

Still could be worse (and still could be if this latest trend continues in the US)…

“The vaccine is not a panacea,” said Ana Bento, an epidemiologist at Indiana University-Bloomington.

Well that’s pretty clear now, eh!?

This wasn’t supposed to happen…

END

A must view…Dr Zev Zelenko

Must Hear: This Video Might Save Lives! — Dr. Zev Zelenko | Alternative | Before It’s News

 
 
 

This is true:  a 5 x increase in cardiac deaths from professional soccer players in 2021 and the year is still not over

(from my son)

5x increase in cardiac deaths from professional soccer players in 2021

 
 
 
 
183+ people dead! DEAD! With many hundreds more with significant degrades in quality of life, most of whom will likely die from their injuries in the next few years.
 

And 2021 is not over yet – 5 weeks to go!

 
from Robert H to us: we must be watchful of this!
 

New Botswana variant with 32 ‘horrific’ mutations is the most evolved Covid strain EVER | Daily Mail Online

 
 
 
There is no way vaccinations or boosters will protect anyone from this.
Get healthy, stay healthy and research what is out there for what you need to do. All this balderdash coming from governments today will not stand in face of the mutations that are occurring.
And when traveling be astute and aware of what is going on around you with people. And for the sake of children let them fight with their immune systems; that is why they have them, because vaccinations stand no chance against the variants.
One must ask whether the variants are smart enough to recognize vaccinations because the last thing anyone wants to do is lower their immune levels.

https://www.dailymail.co.uk/news/article-10238113/New-Botswana-variant-32-horrific-mutations-evolved-Covid-strain-EVER.html

 

New Botswana variant with 32 ‘horrific’ mutations is the most evolved Covid strain EVER and could be ‘worse than Delta’ — as expert says it may have emerged in an HIV patient

  • Only 10 cases of the strain — dubbed B.1.1.529 — have been spotted to date
  • Variant has 32 mutations, many of which suggest it is more vaccine resistant
  • Scientists warn the variant could be worse ‘than nearly anything else about’ 

 

 

British experts have sounded the alarm over a new Covid variant believed to have emerged in Botswana that is the most mutated version of the virus yet.

Only 10 cases of the strain, which could eventually be named ‘Nu’, have been detected so far.

But it has already been spotted in three countries, suggesting the variant is more widespread. 

It carries 32 mutations, many of which suggest it is highly transmissible and vaccine-resistant, and has more alterations to its spike protein than any other variant.

Professor Francois Balloux, a geneticist at University College London, said it likely emerged in a lingering infection in an immunocompromised patient, possibly someone with undiagnosed AIDS.

Changes to the spike make it difficult for current jabs to fight off, because they train the immune system to recognise an older version of this part of the virus. 

Dr Tom Peacock, a virologist at Imperial College who first picked up on its spread, described the variant’s combination of mutations as ‘horrific’.

He warned that B.1.1.529, its scientific name, had the potential to be ‘worse than nearly anything else about’ — including the world-dominant Delta strain. 

Scientists told MailOnline, however, that its unprecedented number of mutations might work against it and make it ‘unstable’, preventing it from becoming widespread. 

They said there was ‘no need to be overly concerned’ because there were no signs yet that it was spreading rapidly.

Three infections have been detected in Botswana to date and six in South Africa — where variant surveillance is more robust.

One case has also been spotted in a 36-year-old man in Hong Kong who recently returned from the continent. 

There are no cases in Britain. But the UK Health Security Agency, which took over from Public Health England, said it was monitoring the situation closely. 

The Prime Minister’s official spokesman said the variant was ‘not seen as something that is an issue’ for the UK at present.

 

The mutant variant has sparked concern because of its ‘very extensive’ set of mutations. 

Professor Francois Balloux, a geneticist at University College London, said it was likely the variant would be much more able to dodge antibodies than Delta.

He told MailOnline: ‘For the time being, it should be closely monitored.

‘But there’s no need to be overly concerned, unless it starts going up in frequency.’

He said its many mutations suggested it could have emerged during a lingering infection in an immunocompromised person, such as an AIDS patient

Meanwhile, 722 Britons infected with the virus sought NHS care on Saturday, the latest date figures are available for, marking a 7.3 per cent drop week-on-week.

And daily Covid fatalities fell by a quarter, with 149 people dying within 28 days of testing positive for the virus.

Both measurements lag two to three weeks behind the trend in cases due to a delay between a person catching Covid and becoming severely unwell. 

Cases have been trending upwards in the UK for the past fortnight after schools went back from the half-term break at the start of the month.  

Infections are concentrated among younger age groups, while booster jabs are driving down cases among the over-60s.

A study by SAGE scientists found today England would only suffer 35,000 Covid hospitalisations if the entire population got infected right now compared to a quarter of a million in Germany.

The London School of Hygiene and Tropical Medicine (LSHTM) analysis suggested the NHS is unlikely to be overwhelmed by the virus even in the event of a major surge.

Researchers looked at vaccination rates and cumulative infection numbers in 18 countries in Europe to estimate levels of immunity and work out what would happen if everyone was suddenly exposed to the virus.

England would be the least affected in the hypothetical scenario with 34,720 admissions and 6,200 deaths. 

Even though the model only looked at England, there is nothing to suggest Scotland, Wales and Northern Ireland would be hit harder.

There have been more than 500,000 Covid hospitalisations in England alone in the last 18 months, for comparison, with just over 140,000 dying with the virus.

The study estimated around 280,000 people in Germany would be hospitalised with the virus — the most of any country in Europe — while Romania would suffer around 150,000.

The researchers include Dr Rosanna Barnard, Dr Nick Davies and Dr Adam Kucharski — three members of SAGE whose modelling has been instrumental in Government policy during the pandemic.

They said higher levels of prior infection and the success of the booster rollout in England meant the country is likely to be better protected than its neighbours this winter.

Britain was branded the ‘sick man of Europe’ this summer after it dropped all restrictions in England in July and saw cases spiral to as much as 50,000 a day. But experts now say opening up early allowed the country to frontload its cases, meaning more people now have immunity than in Europe.

Scientists also believe Britain’s longer dosage gap between vaccines — 12 weeks compared to three weeks on the continent — has afforded Brits longer lasting immunity from jabs.

GLOBAL ISSUES/GLOBAL INFLATION ISSUES

CANADA

end

 

 
LA PALMA VOLCANO ERUPTION
YESTERDAY//SPECIAL THANKS TO ROBERT H FOR BRING THESE TO US:

Bushcraft Bear … 2 new lava flows reached the Ocean, 1 in 4 hours

 END

Island residents evacuate over deadly volcanic gases — RT World News

 
You have to wonder why La Palma does not get the same treatment
https://www.rt.com/news/540987-vulcano-island-evacuated-lethal-gas/

 

END
 
TODAY

Bushcraft bear

 

Rabobank: As The “Haves” Become “Have Yachts”, The Dollar Tree Is Now The Dollar-Twenty-Five Tree

 
WEDNESDAY, NOV 24, 2021 – 08:57 AM

By Michael Every of Rabobank

Bazooka Joe (Jerome and Jamie)

Tuesday was what now passes for normal in global ‘markets’. For example, the currency of a major trading and geostrategic economy, Turkey, collapsed 16% on the day at one point, from what were already exceptionally low levels. For younger emerging market analysts afraid to make big calls on where FX can head even over the longer term, and clinging to ‘spot plus/minus’ – Exhibit A. The lira is down 40% this year and a third in November alone, as Turkey’s president promises “an economic war of independence.” From what/whom? “Unrealistic and completely detached from economic fundamentals,” was being bandied about at one point in official circles.

Unfortunately, one doesn’t know exactly where that applies. Look at the White House’s coordinated release of just 50m barrels of oil from its Strategic Petroleum Reserve (SPR), which saw energy prices handily up on the day. Hardly a bazooka, Joe: and neither was the ‘laugh-a-minute’ Energy Secretary not being able to answer a question about what US daily oil consumption is. Energy analysts point out this SPR policy can’t work against an official move away from funding fossil fuel production; and the US threw some late sanctions against Nord Stream 2, reversing the previous reversal, which contributed to a surge in European energy prices too.

Meanwhile, the US ultra-cheap goods store, the Dollar Tree, is now the Dollar-Twenty-Five Tree due to rising inflation. This is at least a change from the deflationary spiral of dismal British ‘pound stores’ becoming ‘99p stores’ and ‘98p stores’ in the New Normal, as the ‘haves’ became ‘have yachts’: but I doubt the people who rely on shopping in them will see this as an upgrade.

Yet here are two labour market stories you, and markets, may have missed. First, the strike at John Deere has seen a six-year pay deal signed: workers get a 10% raise, and 5% in years three and five; a 3% bonus in years two, four, and six; an $8,500 signing bonus; a preserved pension option for new employees; and no-premium health insurance eligibility sooner. It may just be an outlier for those 10,000 workers, but it is the kind of deal that means you don’t need a dollar-twenty-five store….if the price of energy, food, and rent are under control.

Second, an informal US Twitter real-estate survey asking “Have you or someone you know used profits from crypto and/or NFTs to help with the down payment of a home purchase?” saw 385 votes, and *20%* of respondents indicate, yes, they had. Twitter is not the US public in user-numbers (37m) or tech-savvy (and ideological lunacy). But if just 2% of the US public have enough crypto/digital flatulence/penguins-in-sunglasses to contribute to a house down-payment, then it shows two things: we are getting two bubbles for the price of one; and the drop in the US labor force participation rate may be structural.

For the Fed, that could mean having to use a far larger bazooka: I don’t mean against asset bubbles, which Bazooka Joe was designed to blow – just the unruly workers. Ironically, crypto/NFTs could be a rallying banner for non-workers of the world to unite, using “fictitious” capital as the ultimate Marxist revolutionary tool against the late-stage financial-capitalist system. Lenin would certainly have approved of this destabilising race to the top/bottom given he argued “The best way to destroy the capitalist system is to debauch the currency.” Or produce new ones named after stomach infections. One can imagine if he was alive today, he would be Tweeting and trolling non-stop. And probably launching ‘Bolshie-coin’. Oh, the fun he and Musk would be having, in-between their plans for world domination!

On which note, India looks like it may finally act against crypto, or at least most of them, using a bazooka on the regulatory front. The US Senate wants answers from Tether about its business asap too.

Another bazooka belongs to J P Morgan CEO Jamie Dimon – who may have just fired it into his own foot. When your bank has just been allowed to own 100% of its China securities business at a time when the ideological shift to Common Prosperity sees official reposting of claims that “the capital market will no longer become a paradise for capitalists to get rich overnight,” your press office does not want to see Bloomberg headlines such as: ‘Dimon Says JPMorgan Is Likely to Outlast China’s Communist Party’. However, the CEO is quoted as quipping“I made a joke the other day that the Communist Party is celebrating its 100th year – so is JPMorgan. I’d make a bet that we last longer….I can’t say that in China. They are probably listening anyway.” He will be here all week and is available for weddings and bar-mitzvahs: and Beijing is renowned for its sense of humor.

Dimon also added that while China’s unfair trade practices which the White House raises are valid, they ‘should have been addressed earlier,’ and the bank cannot leave countries just because it disagrees with a policy. Lenin would have fully expected to hear Wall Street say that given his view that “the capitalists will sell us the rope with which we will hang them.” Except today the capitalists no longer produce rope, so create complex mezzanine financing structures to channel you the money to buy it from those who still do. Lenin also argued that having one large State Bank to guide the economy was “nine tenths of the socialist apparatus…socialism is unthinkable without large-scale banking.” Which applies all over, if you are of the 37m people on US Twitter.

On a relatively much smaller scale, the RBNZ today hiked rates 25bp to 0.75% as expected, arguing that the employment level was “above the maximum sustainable level,” and not sounding too about the risks of “transitory” inflation becoming more generalised. How much more ammunition will they use, ask worried mortgage borrowers? More, “over time”, seems to be the general answer. At least NZD is not soaring – because USD is instead, showing us who has all the serious monetary artillery, even if they won’t necessarily use it.

Where finally, and more darkly, the US has sent two patrol boats to support the Ukrainian navy. However, they are of the not-enough-oil-barrels variety, both boats being a militarily token ‘Shooty McShootface’. On the other side, Moscow is allegedly encouraging the Russian population of the Ukrainian enclaves it already holds to sign up for military service and is releasing prisoners if they agree to do so; it is also using the same kind of diplomatic language as it did before moving against Georgia in 2008. As the ice hardens the ground (which better suits tanks, by the way), so attitudes seem to be matching.

In geopolitics, politics, economics, and markets, this is not the time for token popguns, whichever direction you think we should go on policy. Whether it is time for bazookas is open to question.

 

end

7. OIL ISSUES

To counter balance Biden’s use of SPDR, the Saudis and Russians are considering pausing oil production increases.

(zerohedge)

Saudis, Russians Consider Pausing Oil Production Increases In Retaliation To Biden SPR Release

 
WEDNESDAY, NOV 24, 2021 – 10:29 AM

When commenting on yesterday’s SPR release announcement by the Biden admin and several assorted hanger-on nations – which has backfired spectacularly sending the price of oil soaring now that the rumor can no longer be sold so the news has to be bought in line with every single SPR release in the past…

… we said that not only was the release far to smmal, but that in retaliation for the SPR release, “OPEC could easily consider halting its production hikes to offset the detrimental SPR impact of lower oil prices on the needed recovery in global oil capex, likely justifying such action as prudent in the face of COVID demand risks.

Well, fast forward just a few hours when moments ago the WSJ reported that the leaders of OPEC+ and the world’s two top oil producers Saudi Arabia and Russia, are considering a pause to their recent efforts to provide the world with more crude, citing to people familiar with those discussions. The move, as expected, is in retaliation to Washington releasing tens of millions of barrels of oil in an effort to lower prices.

As a reminder, OPEC+ is meeting next week to review the long-term deal they reached earlier this year to boost their collective oil output – the deal involves boosting output by 400,000 barrels a day each month through next year, until the group hits its pre-pandemic pumping level and follows a sharp cut in output in 2020 as demand evaporated amid Covid-19 lockdowns.

However, it now appears that OPEC+ may change its mind and not raise output at all; and while Biden is quick to note that oil prices have hovered near multiyear highs, OPEC and other forecasting agencies have struggled to predict demand amid the on-again-off-again nature of Covid-19 restrictions. Several countries in Europe, for instance, are moving ahead with, or considering, fresh restrictions that could sap economic activity—and by extension demand for oil.

Meanwhile, the elephant in the room – the Biden-led crude release of up to 70 million barrels threatens to further scramble the supply-demand balance. As a result, and to compensate for the new supply, the WSJ confirmed our prediction and writes that Riyadh and Moscow are now considering a pause of the group’s monthly collective increase, even as US lackey, UAE – an OPEC member that has clashed with Saudi Arabia over OPEC policy in the past, and Kuwait are resisting a pause. Then again, what Russia and Saudi Arabia want, they will get.

Saudi Arabia sees the released crude as potentially swelling global supply and threatening to reduce prices, according to people familiar with the country’s thinking.

The question then is what will Biden do after a potential escalation in the oil war, and whether the US will halt oil exports in counter-retaliation. Such a move, as Goldman explained yesterday, would lead to a historic surge in oil prices and all hell breaking loose. This is what we said yesterday:

One final point: while not even the Biden admin is dumb enough to consider it, some have speculated that once the SPR release is shown to be a total disaster, Biden may implement an oil export ban. The problem: this would have catastrophic consequences. As Goldman explains, a US export ban would significantly disrupt the US and global oil markets, and potentially be a counterproductive tool to attempt to lower oil prices.

The US exports 3 mb/d of crude and domestic pipelines would not be able to reroute these volumes to US refiners, which further don’t have enough capacity to process this much crude. This would leave excess US crude supply quickly reaching tank tops and forcing shut-in production, with investment and production soon to enter significant declines. At the same time, the global market would be deprived of 3 mb/d of US supply (light sweet crude that is Brent like in quality). Brent prices would therefore need to spike to push demand lower as there is simply not enough spare capacity (nor suitable crude) to replace US lost exports.

Finally, with the US an importer of gasoline from Europe, US gasoline prices would spike to curtail domestic demand, creating a negative hit to US economic activity.

Come to think of it, this is precisely what Biden will do next.

end

8 EMERGING MARKET& AUSTRALIA ISSUES

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

AUSTRALIA

end

AUSTRALIA  

 

 
 
end

Euro/USA 1.1214 DOWN .00031 /EUROPE BOURSES //ALL MIXED

 

USA/ YEN 115.11  DOWN  0.036 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3358  DOWN   0.0017 

 

USA/CAN 1.2700  UP 0.0024  (  CDN DOLLAR  DOWN 24 BASIS PTS )

 

Early WEDNESDAY morning in Europe, the Euro IS DOWN by 31 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1214

Last night Shanghai COMPOSITE CLOSED UP 3.61 PTS OR 0.10%

 

//Hang Sang CLOSED UP 33.92 PTS OR  0.14% 

 

/AUSTRALIA CLOSED DOWN 0.21% // EUROPEAN BOURSES OPENED ALL MIXED

 

Trading from Europe and ASIA

EUROPEAN BOURSES ALL MIXED 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED UP 33.92 PTS OR  0.14%

 

/SHANGHAI CLOSED UP 3.61  PTS OR 0.10%

 

Australia BOURSE CLOSED DOWN  0.21%

Nikkei (Japan) CLOSED DOWN 471.45 PTS OR 1.58% 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1784.45

silver:$23.40-

Early WEDNESDAY morning USA 10 year bond yr: 1.664% !!! UP 3 IN POINTS from TUESDAY night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.015 DOWN 1  IN BASIS POINTS from TUESDAY night.

USA dollar index early WEDNESDAY morning: 96,74  UP 25  CENT(S) from TUESDAY’s close.

This ends early morning numbers WEDNESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.45%  UP 1  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.086% UP 1 & 2/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.54%// UP 4  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD:  1.08  UP 3    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 54 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –..224% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.31% AND NOW ABOVE   THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.1195  DOWN .0050    or 50 basis points

USA/Japan: 115.37  UP .227 OR YEN DOWN 23  basis points/

Great Britain/USA 1.3329 DOWN .0046// DOWN  46   BASIS POINTS)

Canadian dollar UP 9 basis points to 1.2666

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED DOWN)..6.3923  

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)..6.3941

TURKISH LIRA:  12.24  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.086%

Your closing 10 yr US bond yield UP 2 IN basis points from TUESDAY at 1.648 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.98  DOWN5 in basis points on the day

Your closing USA dollar index, 96.87  UP 39   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 WEDNESDAY: 12:00 PM

London: CLOSED UP 19.63 PTS OR 0.27% 

 

German Dax :  CLOSED DOWN 58.61 PTS OR 0.37% 

 

Paris CAC CLOSED DOWN  2.39 PTS OR  0.03% 

 

Spain IBEX CLOSED  DOWN 23.10  PTS OR 0.28%

Italian MIB: CLOSED UP 119.90 PTS OR 0.63% 

 

WTI Oil price; 78,86 12:00  PM  EST

Brent Oil: 82,44 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    74,83  THE CROSS HIGHER BY 0.59 RUBLES/DOLLAR (RUBLE LOWER BY 59 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.225 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 : 78,26

BRENT :  82.11

USA 10 YR BOND YIELD: … 1.6380.   UP 1  basis points…

USA 30 YR BOND YIELD: 1,960 DOWN 7  basis points..

EURO/USA 1.1202  DOWN 0.0043   ( 43 BASIS POINTS)

USA/JAPANESE YEN:115.39 UP  0.246 ( YEN DOWN 24 BASIS POINTS/..

USA DOLLAR INDEX: 96.83 UP 34  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3327 DOWN .0048  

the Turkish lira close: 12.08  UP 65 BASIS PTS//

 

the Russian rouble 74.99  DOWN 0.68  Roubles against the uSA dollar. (DOWN 68 BASIS POINTS)

Canadian dollar:  1.2663 UP 13 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.225%

The Dow closed DOWN 9.42 POINTS OR 0.03%

NASDAQ closed UP 70.09 POINTS OR 0.44%

VOLATILITY INDEX:  18.63 CLOSE DOWN  0.75

LIBOR 3 MONTH DURATION: 0.1780

 

%//libor dropping like a stone

USA trading day in Graph Form

Stocks, Bonds, & The Dollar Bid As Fed Admits Stagflation Fears

 
WEDNESDAY, NOV 24, 2021 – 04:00 PM

The Fed came clean about its big fear today in the FOMC Minutes:

“The staff continued to judge that the risks to the baseline projection for economic activity were skewed to the downside and that the risks around the inflation projection were skewed to the upside.”

Weaker growth, stronger inflation – the definition of stagflation…

Source: Bloomberg

A 25bps rate-hike is now fully priced-in for June next year…

Source: Bloomberg

Stocks were mixed on the day. Nasdaq outperformed, The Dow lagged, scrambling to hold unch…

Growth stocks were hit at the open again today but found a bid for the rest of the day to close green (still notably underperforming Value on the week)…

Source: Bloomberg

Bonds were also mixed with the short-end underperforming (2Y +3bps, 30Y -6bps)

Source: Bloomberg

30Y Yields tumbled back below 2.00%…

Source: Bloomberg

As the yield curve (2s30s) flattened to new cycle lows (its flattest since Sept 2020)…

Source: Bloomberg

Real yields double-topped and slipped back lower…

Source: Bloomberg

The Dollar rose for the 4th straight day, with the same pattern playing out – bid during the European session only…

Source: Bloomberg

The dollar broke above the Sept 2020 high and is now at its highest since July 2020…

Source: Bloomberg

Bitcoin was choppy today, but ended back above $57,000…

Source: Bloomberg

Gold ended the day marginally higher, holding above the FOMC Statement level…

Oil prices held on to yesterday’s post-SPR-Release gains…

Was this how Biden felt as he announced the SPR release?

Finally, for a sense of the difference between the “real” and the “fake” economy, there’s this…

h/t @MichaelAArouet

Let’s all give thanks for The Fed’s matrix-creation.

END

i)  MORNING TRADING//

end

EARLY AFTERNOOON

 

ii)  USA///DEBT

 

USA DATA

end
 
Still close to 3.0 million Americans on the dole
(zerohedge)

US Durable Goods Orders Unexpectedly Suffer First Back-To-Back Drop Since April 2020

 
WEDNESDAY, NOV 24, 2021 – 08:47 AM

After disappointingly dropping 0.3% MoM in September, analysts expected Durable Goods Orders to rebound in preliminary October data. They were wrong.

Orders tumbled 0.5% MoM (vs +0.2% MoM expected) in October and September’s 0.3% MoM print was revised down to -0.4% MoM…

Source: Bloomberg

This is the first back-to-back drop in orders since April 2020.

Total durables orders were held down by a 14.5% drop in bookings for commercial aircraft, which were offset by a surge in motor vehicle new orders +4.8% and communication equipment +7.9%

Finally, on the bright side, the value of core capital goods orders, a proxy for business investment in equipment that excludes aircraft and military hardware, rose 0.6% after a upwardly revised 1.3% increase a month earlier.

Core capital goods shipments, a figure that is used to help calculate equipment investment in the government’s gross domestic product report, rose 0.3% after jumping an upwardly 1.3% in the prior month.

Additionally, Defense capital goods new orders -20.1% – the biggest MoM drop since April 2021.

We’re gonna need more war!

end

Q3 GDP Revised Slightly Higher But Still Misses Expectations

 
WEDNESDAY, NOV 24, 2021 – 08:50 AM

After the preliminary read of Q3 GDP disappointed bigly last month, when it came in at just 2.0%, missing expectations by a mile, moments ago the BEA disappointed data watchers (or what’s left of them today) again when it reported that its first revision of Q3 GDP data was 2.1%, below the 2.2% expected, if slightly better than the 2.0% initial estimate.

Of note, personal consumption rose a 1.7% annualized in 3Q after rising 12.0% prior quarter; this compares to expectations of 1.6%, or for the initial estimate to be unchanged.

Commenting on the data revision, the BEA said that the update reflects upward revisions to consumer spending, inventory investment, and state and local government that were partly offset by downward revisions to exports, business investment, housing investment, and federal government. Imports, which are a subtraction in the calculation of GDP, were revised down.

Here is a more detailed breakdown:

  • Personal consumption was revised from 1.09% to 1.18% of the total GDP of 2.11% or just over 50% of the final number.
  • Fixed investment subtracted -0.20% from the bottom line number, a deterioration to the initial print of -0.14%
  • The change in private inventories added 2.13% according to the latest data, up from 2.07%.
  • Net trade (exports less imports) subtracted -1.16% from the bottom line GDP, virtually unchanged from the -1.15% initial print
  • Finally, government’s contribution was also flat at 0.16%, unchanged from the 0.14% previously.

Visually:

Drilling further into the data, real disposable personal income – personal income adjusted for taxes and inflation – decreased 4.0% in the third quarter after decreasing 29.1% in the second quarter. Current-dollar DPI increased primarily reflecting an increase in compensation of employees. The increase was partly offset by a decrease in government social benefits related to pandemic relief programs, notably unemployment insurance. Personal saving as a percentage of DPI was 9.6 percent in the third quarter, compared with 10.9 percent (revised) in the second quarter.

On the inflation front, the GDP price index rose 5.9% in 3Q after rising 6.1% prior quarter; this was higher than the 5.7% expected. Meanwhile, Core PCE q/q rose 4.5% in 3Q after rising 6.1% prior quarter; this came in line with expectations.

Finally, looking at corporate profits, the BEA reports that profits increased 4.3% at a quarterly rate in the third quarter after increasing 10.5% in the second quarter. Profits of domestic nonfinancial corporations increased 3.7% after increasing 13.8%. Profits of domestic financial corporations increased 2.5% after increasing 10.9%. Profits from the rest of the world increased 8.7 percent after decreasing 1.3 percent. Corporate profits increased 20.7 percent in the third quarter from one year ago.

Of course, since this data is extremely stale, nobody will care what GDP did in the late summer with all eyes now fixed on Q4 GDP where the Atlanta Fed expects the number to come in above 8%, although we in turn expect this print to drop sharply in the coming weeks.

END

Fed’s Favorite Inflation Indicator At 30-Year-High As Savings Rate Plunges To Pre-COVID Levels

 
WEDNESDAY, NOV 24, 2021 – 10:08 AM

Despite sentiment slumping and buying attitudes crashing, retail sales outperformed this month (thanks to inflation driving nominal prices higher) and analysts expected spending to surge faster than incomes once again and they did with incomes rising 0.5% MoM (+0.2% MoM exp) and spending jumping 1.3% MoM (+1.0% MoM exp).

Source: Bloomberg

Purchases of goods and services, unadjusted for changes in prices, increased 1.3% following a 0.6% gain in September, Commerce Department figures showed Wednesday.

On the income side, Private worker wages rise to match all time high at 8.4% Y/Y, Government worker wages drop to 11.0%, the lowest since March 2021

All of which means the Personal Savings Rate tumbled back to pre-COVID levels: 7.3% in Oct. was 7.6% in Jan…

Finally, and perhaps most importantly, The Fed’s favorite inflation indicator – Core PCE Deflator – which jumped to its highest since 1991 (and headline PCE rose 5.0% YoY)...

Source: Bloomberg

Get back to work Mr.Powell!

END

UMich Sentiment Holds At 10-Year Lows, Inflation Expectations At 13 Year High

 
WEDNESDAY, NOV 24, 2021 – 10:18 AM

After plunging to decade-lows in preliminary data, analysts expected practically no bounce at all for the final November print of University Of Michigan’s Sentiment survey, but in fact the data did bounce a little.

  • The headline print rose from 66.8 prelim to 67.4 final but remains well below the 71.7 October print.

  • Current Conditions rose from 73.2 prelim to 73.6 final for November (still below October’s 77.7).

  • Expectations also rebounded modestly from 62.8 to 63.5 final, but well below the 67.9 final print from October.

However, despite the intramonth bounce (which was small), headline sentiment remains at its lowest since 2011…

Source: Bloomberg

Buying Attitudes all dropped in November to record lows…

Source: Bloomberg

“Rather than gradually easing along with diminished shortages, complaints about falling living standards doubled in the past six months,” Curtin said.

Finally, and perhaps most importantly, Americans’ expectations for the future path of inflation remain at their highest since 2008 fro the short-term and medium-term picked up as the month proceeded…

Source: Bloomberg

“While pandemic induced supply-line shortages were the precipitating cause, the roots of inflation have grown and spread more broadly across the economy,” Richard Curtin, director of the survey, said in a statement.

Not what Brainard wanted to see!

END

New Home Sales Data Suffers Huge Downward Revisions, Inventories Hit 13-Year-High

 
WEDNESDAY, NOV 24, 2021 – 10:28 AM

New home sale rose 0.4% MoM (better than the expected unchanged print), but this hid the dramatic downward revisions of prior data (September’s +14.1% MoM spike smacked down to +7.1% MoM). New home sales remain down over 23% YoY…

Source: Bloomberg

The downward revisions dominated the narrative…

This pushed the New Home Sales SAAR to 745k – the highest since April.

Source: Bloomberg

There were 389,000 new homes for sale as of the end of October, the most in 13 years — though 28% of those houses were not yet started. At the current sales pace, it would take 6.3 months to exhaust the supply of new homes, compared with 3.6 months at the start of the year.

Sales SAAR has been dropping as prices have soared…

As Mean and Median home prices hit record highs…

How are you going to let these homeowners down gently Mr.Powell?

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

b) USA COVID/VACCINE UPDATES//VACCINE MANDATES

Bill De Bozo de Blasio stupidly pushes for a no jab no subway travel in NYC

(zerohedge)

iii) important USA economic stories

This may turn out to be very interesting if she releases some of the data.

(zerohedge)

Pfizer Employee Stole 12,000 Files Including COVID-19 Vaccine Secrets, Lawsuit Claims

 
WEDNESDAY, NOV 24, 2021 – 01:20 PM

Pfizer claims that a “soon-to-be-former employee” uploaded more than 12,000 files – including “scores” with confidential information – to her personal Google Drive account and other personal devices, a lawsuit from the company claims.

The company has accused Chun Xiao Li (“Li”) and five potential co-defendants of corporate espionage, saying Li “decided to leave Pfizer for a competitor believed to be Xenocor, Inc.”

What’s more, Li apparently gave Pfizer a ‘decoy’ laptop to throw internal investigators off the trail.

Per the filing:

Had Ms. Li left Pfizer honorably, she would not be named in this Complaint. But she made a different choice: on her way out the door, she transferred onto personal accounts and devices over 12,000 files, scores of which contain Pfizer confidential and trade-secret information, and tried covering her tracks repeatedly.

She went so far as to provide Pfizer’s security team a decoy laptop, leading Pfizer to believe it was the one she used to download the 12,000 files from her Google Drive account. Forensic analyses confirmed it was not, and Ms. Li (or somebody else, including potentially DOES 1-5) likely remains in possession of the actual computer that contains those 12,000 files.

The lawsuit seeks a temporary restraining order to prevent Li from using, disclosing, transmitting or altering any confidential information she stole, per Bloomberg Law.

Li’s tenure with Pfizer began in 2006 at their Global Product Development Group in China, before transferring to the company’s La Jolla, California campus in 2016. She had signed a confidentiality agreement as part of her employment.

Her alleged theft was first detected as part of routine tracking of employee activity on company devices in October, when she transferred 12,000 files from her Pfizer laptop, per the complaint.

Read the complaint below:

Document by Zerohedge Janitor

END

If The Chaos In Our Streets Is This Bad Now, How Bad Will It Get In 2022 And Beyond?

Tyler Durden's Photo
BY TYLER DURDEN
WEDNESDAY, NOV 24, 2021 – 04:20 PM

Authored by Michael Snyder via TheMostImportantNews.com,

If crime and violence are wildly out of control when things are still relatively good, how nightmarish will things become when conditions get really bad in this country? 

Just think about it. 

Right now, anyone that wants a job can get one.  Millions of Americans have either died of have become seriously incapacitated over the last two years, and so now we are in the midst of the most epic worker shortage in the history of the United States.  Companies all over the nation are absolutely desperate to hire anyone with a pulse, and so there is no excuse for being unemployed.  In addition, we have invented literally millions of different ways to entertain ourselves.  There are hundreds of channels on television, new movies are constantly being released, we live in a golden era of video games, and there are millions of sites to visit and things to do on the Internet.

So we should all be able to make a living, and we should all have more than enough things to do in our free time.

In other words, crime should theoretically be extremely low right now.

But instead, crime rates are absolutely skyrocketing and we are seeing chaos in our streets on a nightly basis.

In fact, I just wrote about the chaos in our streets yesterday, and now I am writing about it again today.

When I was growing up, you weren’t taking your life into your hands by attending a parade.  Sadly, quite a few of those that attended the Christmas parade in Waukesha, Wisconsin on Sunday won’t be attending any parades ever again.

A career criminal/rapper/political activist/registered sex offender named Darrell Brooks ripped right through the center of the parade in his vehicle, and many of the victims that he hit were women and children

Father Corey Montiho recalled running between crumpled bodies in the streets of Waukesha, 20 miles from Milwaukee, in an attempt to find his wife and two daughters after the girls’ dance team was hit by a speeding red SUV which tore through the parade route around 4.40pm – leaving the streets littered with bodies, broken bones, and ‘fragments of brain’.

‘They were pom-poms and shoes and spilled hot chocolate everywhere. I had to go from one crumpled body to the other to find my daughter,’ he said. ‘My wife and two daughters were almost hit.

‘I saw bodies flying. I ran down the parade route to find my girls. Addison, my daughter, heard someone yell “car” and ran away. The girls right next to her were hit.

If the man behind the wheel had been a conservative, the mainstream media would undoubtedly be calling this an act of “domestic terrorism”.

But since Darrell Brooks absolutely hates conservatives and absolutely hates the police, the mainstream media are not using that particular label.

Meanwhile, stores in the San Francisco area were hit by highly organized looters for a third night in a row

San Francisco Bay has been hit by a third day of brazen looting, with a gang of thieves filmed smashing glass cases at a jewelry store and emptying them as staff screamed in terror.

The latest incident happened at a Sam’s Jewelers store at the Southland Mall in Hayward around 5:30pm PST Sunday evening, and was caught on camera.

Robbers – said to have been part of a gang of around 40 to 50 teens who entered the mall – wielded hammers to smash display cases at Sam’s, before making off with goods. Dramatic footage shot from a nearby store showed shop workers screaming with fear as the disturbing scene unfolded.

Other stores in that same mall were hit as well.

The thieves have learned that as long as they keep the value of what they steal under $950 they will never be charged with a felony.

So it is open season on retailers in northern California, and store owners desperately want the politicians to do something to protect them

Retailers who already suffered looting in the Black Lives Matter riots of 2020 have had enough, and are speaking out against the left-wing Mayor and other public officials who have failed to protect them. The San Francisco Chronicle reported:

“The mayor and her entire team should resign,” said John Chachas, whose family owns luxury retailer Gump’s on Post Street in Union Square. “You can’t really run a retail enterprise if you have to board up the windows five weeks before the critical Christmas selling season.”

Sadly, we are seeing similar scenes in the middle of the country.

For example, one gang of organized looters just got away with approximately $120,000 worth of merchandise from a Louis Vuitton store near Chicago

A group of over a dozen people stormed a Louis Vuitton store in a Chicago suburb and stole about $120,000 worth of merchandise, police said.

The suspects were caught on video wearing masks and sweatshirts as they grabbed bags and cleared out shelves in the store. The robbery resulted in about $120,000 in merchandise being stolen.

Of course these are not just isolated incidents.

As the National Fraternal Order of Police has pointed out, crime rates are absolutely skyrocketing all over the nation.

This is the end result of decades of moral collapse in America.

These young criminals are not stealing because they can’t find jobs and desperately need money.

At this point, all of them could go out and get jobs by the end of the week.

And they aren’t causing havoc because they are bored because there is nothing to do.

Rather, they are committing these crimes because our system never taught them right and wrong and now they have fully embraced evil.

As the chaos in our streets gets worse and worse, it is becoming increasingly difficult to be a police officer.  Many of our largest cities have greatly restricted what police departments can do to crack down on crime, law enforcement officers are being endlessly demonized by the corporate media, and violent attacks against police officers are on the rise.

In such an environment, it shouldn’t surprise anyone that so many officers regret ever becoming cops.  For instance, just check out these numbers from a recent survey that was conducted in New York

Not only did 56 percent of cops say they wouldn’t put on the badge if they had to do it all over again, but a majority feel the public disrespects (46 percent agree, 42 percent disagree) and distrusts (44 to 41 percent) them.

“There is no other profession that is scrutinized as much as we are,” said one NYPD sergeant, a 16-year-veteran. “The far-left leaning politics are absolutely destroying the city of New York.”

Countless officers have left their law enforcement careers behind over the past couple of years, and many more will leave in 2022.

And because we are in the midst of such a horrible labor shortage, it will not be easy to replace them.

This is yet another example of how core institutions are crumbling all over America, and it is only going to get worse in the years ahead.

As the violence in our streets continues to escalate, what will the streets of our major cities look like in 2022 and beyond?

If you live in or near one of our major cities, you may want to ask yourself that question, because the storm clouds on the horizon are becoming exceedingly clear at this point.

*  *  *

end

iv) Swamp commentaries/

Kamala explaining inflation:  “prices have gone up!”

My goodness is she brilliant.

“Prices…Have Gone Up” – Kamala Harris ‘Explains’ Decade-High Inflation In The US

 
WEDNESDAY, NOV 24, 2021 – 11:10 AM

President Biden and his VP Kamala Harris have tried their hardest this week to try and win back the approval of the American people by offering desperate handouts from the US strategic petroleum reserves as Americans brace for the highest pre-Thanksgiving prices for gasoline ever (which has been driving inflation higher more generally).

But the reality is that fewer Americans trust Biden to handle the economy now that they’re struggling with the results of Democrats’ free-spending ways, leaving the president’s approval rating to slide to the lowest levels yet (and VP Harris’ approval rating at the lowest of any VP in history).

And while President Biden has struggled to shift the blame for surging inflation while desperately trying to combat higher oil prices, his No. 2, VP Harris – who has already had her first taste of leadership, officially serving in Biden’s stead for several hours while he underwent anesthesia for a colonoscopy earlier this month – has offered her own overly simplistic take on why inflation seems to be surging during a recent interview.

It’s all because – to put it in Harris’s own words – “prices…have gone up…”

But why are Americans struggling with the highest prices in a decade this fall? Wasn’t this all supposed to be – to use the words repeatedly marshaled by the Fed’s newly renominated Jerome Powell – transitory?

Even when confronted by Democratic operatives posing as reporters (ABC News’s George Stephanopoulos is a former advisor to the Clinton’s), Harris has struggled to explain it all.

But this hasn’t stopped her from buying in expensive cookware during a recent diplomatic trip to the Louvre, as the Washington Free Beacon reveals.

Amid economic turmoil and calls to buy local in the United States, Vice President Kamala Harris dropped nearly $400 for a single pot at a boutique shop in Paris, the Washington Free Beacon has learned.

Overseas last week on a four-day diplomatic trip to mend the U.S. relationship with France, Harris stopped in at E. Dehillerin, a pricey cookware shop outside the Louvre museum, where she dropped hundreds of dollars on various kitchen items. The big-ticket items in the haul were a $375 serving dish and $160 frying pan, the Parisian specialty store told the Free Beacon. The vice president rounded out her purchase with various smaller accessories, such as a porcelain cocotte and egg dish, a copper cleaner, and various wooden spoons.

All together Harris spent 516 euros, which amounts to roughly 600 dollars at the current exchange rate. Reporters joined Harris in the store as she browsed but were kicked out before they could record details of her lavish purchase, according to C-SPAN video of the E. Dehillerin visit.

So, while millions of Americans struggle to pay for their own Thanksgiving dinner, Harris is spending $400 at a fancy Louvre gift shop.

Could there be a more appropriate symbol of the Democrats’ contemporary malaise?

end

What Elephant? The Media Again Buries A Hunter Biden Scandal On Foreign Deals During Biden Vice Presidency

 
WEDNESDAY, NOV 24, 2021 – 12:13 PM

Authored by Jonathan Turley,

I previously wrote a column on the one year anniversary of the Hunter Biden laptop story that marveled at the success of the Biden family in making the scandal vanish before that 2020 election. It was analogized to Houdini making his 10,000-pound elephant Jennie disappear in his act. The Biden trick however occurred live before an audience of millions. Now, in an encore, a new major story on Biden’s Chinese dealings has surfaced. Once again, poof!

The media has made the story disappear except for a couple of the usual outletsEven with the New York Times reporting on the story, the disclosure of Biden’s role in securing one of the world’s largest cobalt mines for China (a key component to electric battery production) has been ignored by the major networks and many other print outlets. Once again, ABC. NBC, CBS, CNN, MSNBC, and other media just cannot see the elephant.

What is most amazing about this continuing trick is that the story has all of the elements that the media longed to confirm during the Trump Administration on the financial dealings of the Trump children. The son of the President was involved in a successful effort to handover a strategically vital natural resource to the Chinese that would guarantee their dominance in one of the most important new industries of the “Green economy.” This occurred during a period when Hunter Biden and his uncle were accused of running a global influence peddling operation with foreign powers that cashed in on the Vice Presidency of Joe Biden. Then there is the fact that the story appears to contradict denials of continuing ownership in such foreign interests by the Bidens.

Finally, there is the fact that this windfall from the Chinese occurred in a field that Hunter Biden knew nothing about (much like his work on the board of the Ukrainian natural gas firm Burisma) and he was, by his own description, a hopeless addict. In his recent book, Hunter admits that he was a crack addict and alcoholic all the way up to the start of his father’s presidential campaign — in his words, “Drinking a quart of vodka a day by yourself in a room is absolutely, completely debilitating,” as well as “smoking crack around the clock.”

This elephant is truly difficult to unsee.

Hunter Biden established the firm Bohai Harvest RST (BHR) Equity Investment Fund Management Company with a few American and Chinese partners in 2013. He and his American associates controlled 30 percent of the Shanghai-based operation and served on the board. They then put together the purchase of the Congo cobalt and copper mine transfer from American company Freeport-McMoRan to China Molybdenum for the sum of $2.65 billion.

The Tenke Fungurume mine was considered a human rights nightmare. The Congolese military reportedly reduced workers to virtual slaves, torched homes, and killed dissenters. Amnesty International spokeswoman Sarah Jackson denounced “the long history of excessive use of force … unlawful killings.”

However, there was money to be made and Hunter Biden was there to lend the Biden name to the enterprise. BHR served as a minority stakeholder to buy out around $1.14 billion of shares from Lundin Mining of Canada, a partial owner of the mine. China Molybdenum then bought BHR’s shares two years later to give it 80% of ownership of the mine and control of the vital natural resources.

Biden controlled 10 percent of BHR through Skaneateles LLC but his lawyer reportedly insisted that, as of April 2020, he no longer had such interests in this foreign company. That may be untrue, according to the media reports. Chinese business records reviewed by Fox News in April 2021 allegedly show that Hunter Biden continued to hold a 10% stake.

If true, it means that through the election, Hunter Biden was still receiving money from a variety of companies with close ties to the Chinese, Russian, and Ukrainian governments. In this case, his alleged influence peddling was used to deliver a huge strategic advantage to the Chinese in the very area of electric cars that his father was making an American investment priority.

Of course, this is simply not the type of scoop that has drawn most of the media coverage.

None of these facts, however, can force the media to see the elephant. The key to the trick was involving the media in the original trick is that it invests reporters in the illusion. It is like calling audience members to the stage to assist in the performance. Reporters have to insist that there was nothing to see or they have to admit to being part of the original deception. The media cannot see the elephant without the public seeing something about the media in its past efforts to conceal it.

Fake It Till You Make It? Biden Energy Secretary Fumbles Two Simple Questions In One Day

 
WEDNESDAY, NOV 24, 2021 – 04:40 PM

Energy Secretary Jennifer Granholm on Tuesday biffed two simple questions that anyone in her position should have been able to answer.

Granholm – the former Democratic Governor of Michigan who has zero experience in the energy sector – was asked how many barrels of oil the US consumes in a day, to which she replied “I don’t have that number in front of me. Sorry.”

Next, Granholm couldn’t provide an answer as to when Americans can expect gas prices to drop, and how long she might expect a drop to last, to which she replied: “Yeah, I’m not going to make a prediction about how much and how long.”

Nothing like faking it till you make it (or don’t)…

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

Biden to release 50M barrels of oil from Strategic Petroleum Reserve amid gas price spike
China, India, Japan the Republic of Korea and the United Kingdom will also tap their reserves in a coordinated effort to drive down prices
https://www.foxbusiness.com/politics/biden-strategic-petroleum-reserve-release-gas-price-spike
 
@RNCResearch: Biden Energy Secretary Jennifer Granholm on rising gas prices: “We’re working through an energy transition…The reality is, we have to take some time to get off of oil and gas, we recognize this. This is a transition.”  https://twitter.com/RNCResearch/status/1462870579342622723
 
@townhallcom: REPORTER: “How many barrels of oil does the U.S. consume per day?”  Energy Sec. Granholm: “I don’t have that number in front of me. I’m sorry.” (You cannot make this up!)
https://twitter.com/townhallcom/status/1463243774860181520
 
Oil rallied 2.8% and gasoline surged 2.7% on The Big Guy’s futile gesture to arrest energy inflation.
 
@Jkylebass: Get ready for explosively higher oil. 7 years of dramatic underinvestment in hydrocarbons fueled by ignorance like this will inevitably generate $100+ crude oil and $5+ prices at the pump for years to come… A coordinated SPR release is a quick shot of morphine for a major infection. It fixes nothing and is evidence of a panic in DC… If anyone took the time to review US SPR data, the administration has been selling many millions of barrels each month for the last 90 days… the globe consumes 100 million PER DAY. A coordinated release of 50 million is nothing at all. Rounding error.
 
GOP Rep. @laurenboebert: Biden is opening the strategic oil reserves because he decided to destroy domestic energy production and OPEC rebuffed his nonsensical demands. He’s only releasing enough for about 2.5 days of usage.  This “help” is a big lie. He made the crisis!
 
@RepGregSteube: Our Strategic Reserve is for our nation’s emergency use not Biden’s strategic failure.
 
IHS Markit Flash US Composite PMI™     (Stagflation or worse in services is here!!!)
▪ Flash US Composite Output Index at 56.5 (57.6 in October). 2-month low.
▪ Flash US Services Business Activity Index at 57.0 (58.7 in October). 2-month low.
▪ Flash US Manufacturing PMI at 59.1 (58.4 in October). 2-month high.
▪ Flash US Manufacturing Output Index at 53.9 (52.1 in October). 2-month high.
Input cost inflation spiked sharply higher in November to reach a new survey high…”
https://www.markiteconomics.com/Public/Home/PressRelease/c4f8600b63124921b109fba93bf6d523
 
Breakfast is going to be more expensive next year
General Mills (GIS) notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands…  https://www.cnn.com/2021/11/23/business/cheerios-grocery-prices-general-mills/index.html
 
FT: Dollar Tree raises most prices to $1.25 as inflation sweeps retail sector
end
 
@disclosetv: Biden reads from the teleprompter incl. an “end of quote” notice. (Not a parody!)
https://twitter.com/disclosetv/status/1463239341845659656
Best Buy Tumbles as Increased Theft Worsens Margin Squeeze
“We are seeing more and more particularly organized retail crime,” (CEO) Barry said on a conference call with analysts. “You can see that pressure in our financials, and more importantly, frankly, you can see that pressure with our associates. It’s traumatizing.”…
https://www.bloomberg.com/news/articles/2021-11-23/best-buy-margin-disappoints-on-tough-comparisons-product-woes
 
@disclosetv: Biden: Happy Thanksgiving! I’m heading to a food kitchen… now. Reporters: When will you answer our questions, sir? Biden leaveshttps://twitter.com/disclosetv/status/1463230821628878850
 
8-year-old boy dies from injuries in Waukesha Holiday Parade tragedy
https://cbs58.com/news/8-year-old-boy-dies-from-injuries-in-waukesha-holiday-parade-tragedy
 
Darrell Brooks’ nephew begged a judge to order his uncle to stay away in a heartbreaking note after he SHOT him in a fight over a cell phone (US MSM doesn’t want to talk about Brooks.)
https://www.dailymail.co.uk/news/article-10234383/Darrell-Brooks-shot-nephew-fight-cell-phone.html
 
@MrAndyNgo: The affidavit against the Waukesha massacre suspect has been released. We learn new details, including that there were 62 injured, that the driver stopped then accelerated, & that witnesses said driver drove in zigzag to hit as many as possiblehttps://ngo.locals.com/post/1337952/a
 
Waukesha locals outraged over Christmas parade crash suspect’s $1,000 cash bail
https://www.foxnews.com/us/waukesha-christmas-parade-suspect-bail-locals
 
The ‘progressive’ and ‘bold reformer’ DA behind Waukesha parade suspect Darrell Brooks’ low bondtwo days before the carnage describes himself as a “bold reformer” and has taken credit for inspiring a wave of “progressive prosecutors” across the US.  Milwaukee County District Attorney John Chisholm, who was elected to the position in 2007, has spent his career supporting cash-bail system reform because he argues it criminalizes poverty…  https://t.co/MrMMnuFVMm
 
Milwaukee DA Refused to Prosecute Over 60% of Felony Cases Filed by Police Last Year. – WISN
 
Milwaukee BLM ‘militant’ says Waukesha Christmas parade attack may be start of ‘revolution’
Activist Vaun Mayes said, ‘It sounds possible that the revolution has started in Wisconsin’
https://www.foxnews.com/us/milwaukee-blm-activist-christmas-parade-attack-revolution-waukesha
 
@Cernovich: Every major corporate media outlet spread the false claim that the Waukesha massacre was due to the killer fleeing a “knight fight.” This claim was fabricated and designed to minimize the act of domestic terrorism as a “car accident.” This is a new low. There is no bottom.
 
@PollsandOdds: Fox News 2020 Polls Accuracy check: 1. National 2020 GE Polls (19), Fox inflated Dem support by 4.55%; 2. Battleground states Polls (52), Fox exaggerated Dem support by 7.1%; Total Polls Conducted 71, Overall: Fox Polls overestimated Dem support by 6.32% (Dem Bias)
Let us wrap up the week as always with this offering courtesy of Greg Hunter 

end

 
Well that is all for today
 
To all our American friends out there, a very happy Thanksgiving holiday weekend
 
 

I will see you FRIDAY night.

One comment

  1. Thank you very much. Be healthy.

    Like

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